Provision in the Articles of Association concerning the appropriation of profit
The provision and the appropriation of the net profit is based upon the Articles of Association and the Agreement State-FMO of November 16, 1998.
The General Meeting will determine which portion of the result of a financial year is reserved or in which way a loss will be incorporated, as well as the appropriation of the remaining profit, with regard to which the Supervisory Board and the Management Board can make a non-binding proposal in accordance with the provision and dividend policy adopted by the General Meeting, taking into account the relevant provisions in the Agreement State-FMO of November 16, 1998.
Proposal for appropriation of profit
A company net profit of €93,102 was recorded in 2011. Under the Agreement State-FMO of November 16, 1998, FMO is required to add €88,816 to the contractual reserve. Therefore this profit is not distributable. The distributable element of the net profit amounts to €4,286 (2010: €6,209). The Management Board and the Supervisory Board propose distributing a sum of €2,143 (2010: €1,864) as cash dividend €5.36 per A and B share (2010: €4.66 per A and B share) and to add the remaining amount of €2,143 to the other reserves.