8.1 The Dutch Corporate Governance Code provides that the policy of a company on additions to reserves and on dividends (the level and purpose of the addition to reserves, the amount of the dividend and the type of dividend) shall be dealt with and explained as a separate agenda item at the general meeting. As there are insufficient distributable reserves, no dividend shall be payable.
9. Explanation to agenda item 10
9.1 The General Meeting is requested to determine the appropriation of the loss for financial year 2014 of USD 44,698 thousand to be added to the retained deficit in the shareholders' equity.
10. Explanation to agenda item 11
10.1 It is proposed to appoint KPMG Accountants N.V. as the Company's auditor in relation to the financial year 2015.
Contacts:
Jacob Broekhuijsen - CEO
Carol Frost - Director HR & Communication
+44(0)203-728-4450 or info@sequa-petroleum.com
