Financial statements and dividend
The financial statements for 2010 were prepared and endorsed by the Executive Board pursuant to their statutory obligation under article 2:101 (2) of the Dutch Civil Code and article 2:25c (2c) of the Financial Markets Supervision Act. The statements were discussed by the Supervisory Board in the presence of the external auditor. After the review of the unqualified opinion providedby KPMG Accountants N.V., as well as the findings ofthe external auditor as summarised in a report to the Supervisory Board and the Executive Board, the financial statements were endorsed by all members of the Supervisory Board pursuant to their statutory obligation under article 2:101 (2) Dutch Civil Code. The Supervisory Board recommends the Annual General Meeting of Shareholders to adopt the financial statements. In addition, it recommends that the Executive andSupervisory Boards be discharged from liability in respect of the managerial and supervisory duties that they have performed respectively.
The Supervisory Board approved the Executive Board’s proposal to add € 6.6 million of the result attributable to the equity holders of Grontmij of € 17.0 million (2009:€ 20.3 million) to the other reserves. It further approvedthe Executive Board’s proposal to propose to the Annual General Meeting of Shareholders to resolve to pay the remaining € 10.4 million as dividend of € 0.50 (2009: € 1.00) per (depositary receipt for) ordinary share to be paid in the form of (depositary receipts for) ordinary shares, unless a holder of (depositary receipts for) ordinary shares expressly request for distribution in cash (subject to 15% dividend tax). As an incentive to receive the dividend as stock, the value of the stock dividend will be 2 to 5 % higher than that of the cash dividend due to a positive rounding difference when determining the exchange ratio. The (depositary receipts for) ordinary shares issued willbe entitled to the dividend of the full book year of 2011 and subsequent years.
As the Supervisory Board of Grontmij, we would like to extend our thanks to management and employees. Their commitment to Grontmij is more than apparent from the way the Group is tackling the current economic environment.
De Bilt, 9 March 2011
F.L.V. Meysman (chairman)
S.E. Eisma (vice-chairman)
R.J.A. van der Bruggen
J.H.J. Zegering Hadders
Add to My Report
Annual report, Report of our Supervisory Board, page 21