Proposals and recommendations to the annual general meeting

Having stated all of the above, the Supervisory Board endorses the report of the Management Board. We propose that the AGM adopt the 2017 Annual Accounts audited by EY Accountants LLP. In accordance with Article 6 (2) of the State-FMO Agreement of November 16, 1998 and the current dividend policy, we propose that the AGM approve the allocation of EUR 249 million (2016: EUR 169 million) to the contractual reserve. The remaining amount of EUR 5.6 million (2016: EUR 6.7 million) is the distributable component of profits. We recommend that the AGM adopt our proposal to pay a cash dividend of EUR 13.89  (2016: EUR 16.71) per share. This proposal for dividend distribution can be withdrawn if FMO’s economical and financial conditions deteriorate significantly in the period up to the moment of distribution of the dividend.

This reservation is the result of the recommendation of the European Central Bank on December 28, 2017, and adopted by the Dutch Central Bank.

We trust that the AGM will also discharge the Management Board for its management of FMO and the Supervisory Board for its supervision during the reporting year.

Attendance Supervisory Board 2017

Regular SB meetings

SB meetings incl. extraordinary meetings

ARC meetings

SARC meetings

Prof. dr. J.M.G. Frijns

100%

100%

-

100%

drs. A.E.J.M. Schaapveld MA

100%

86%

100%

-

Prof. dr. ir. P. Vellinga

75%

86%

-

100%

Ir T. Menssen MBA

75%

71%

67%

-

drs. D.J. van den Berg

100%

86%

-

100%

drs. J.V. Timmermans[1]

100%

67%

100%

-

  • 1 As of September 29, 2017