Result appropriation by virtue of the Articles of Association
On the basis of article 27 of the Articles of Association of HZPC Holland B.V., a portion of the company’s annual profits, to be determined by the Board of Directors with the approval of the Supervisory Board, can be added to the reserves. The remaining profit is available for disposal at the discretion of the General Meeting of Shareholders.
Proposal for result
The General Meeting of Shareholders will be asked to approve the following appropriation of the 2015/2016 result after taxation: an amount of EUR 2,491,114 to be added to the other reserves and the remaining amount of EUR 4,506,419 to be paid out as dividend. Per share certificate EUR 5.75 is available. This proposal is processed in the balance sheet under the current liabilities.
A percentage of the company’s profit to be determined by the Executive Board with the approval of the Supervisory Board can be added to the reserves while the undischarged losses of previous years are deducted along with the taxes which are or will be charged on the basis of the profit, which may be established by means of an estimate if necessary. The remaining profit is available for disposal at the discretion of the General Meeting of Shareholders. The company can only make payouts of profit available for paying out to the shareholders and any other parties which may be thus entitled to the extent that the shareholders’ equity is greater than the paid and called-up part of the capital augmented with the reserves which must be maintained by law or by way of statutes.
No events have occurred following the balance sheet date with significant financial consequences.
The original financial statements were drafted in Dutch. This document is an English translation of the original. In the case of any discrepancies between the English and the Dutch text, the latter will prevail.