|
In 2000, the Supervisory Board held its meetings regularly, as scheduled. All meetings had a quorum. The meetings were regularly attended by the chairmen of the Supervisory Boards of Danubius Szállodaüzemeltetô és Szolgáltató Rt. (Danubius Hotel Management Co.) and Hungária Szálloda-Ingatlankezelô Rt. (Hungária Hotel-Property Co.) as well as the head of Internal Audit. Furthermore, the said supervisory boards also attended the joint meeting.
Some meetings were also attended by the auditor as an invitee, who delivered presentations about the auditing activities. The chairman of the Supervisory Board participated in the Company’s Board of Directors meetings. He invited the managers of the Company to the Supervisory Board meetings who were requested to report on their activities with special regard to the following points:
- business management in 2000, accomplishment of the business plan goals,
- financial situation and outlook,
- marketing and sales activities,
- reconstruction, renovation and capital expenditure projects implemented in order to ensure competitiveness of the Company,
- internal auditing and realisation of the findings,
- adherence to the laws and regulations.
The Supervisory Board concluded that
- the financial obligations were met in accordance with the plan,
- the capital expenditure and renovation projects progressed on schedule.
|
|
|
With respect to the operation of the Company in year 2000, the Supervisory Board has not detected any measures or events that are contrary to the law or the charter.
The goals of the business plan for 2000 were approximately accomplished by the Company.
In view of the impact of all the market factors, the Supervisory Board proposes that the financial balance of the Company be approved.
The Supervisory Board examined the Company's balance sheet report for the year 2000, together with its annexes, and, in view of the auditor's report and oral presentation, proposes that they be approved by the General Meeting, with total assets of HUF 42,204,075,000 and consolidated profit of HUF 2,763,780,000.
In view of the auditor's report, the Supervisory Board proposes that the consolidated balance sheet of Danubius Co. Ltd. be approved with total assets of HUF 51,719,220,000 and consolidated profit of 3,511,335,000.
The Supervisory Board agrees with the annual report of the Board of Directors and proposes that it be approved.
The Supervisory Board agrees with the Board of Directors's proposal regarding the division of profits.
Budapest, 11. April, 2001
by Mr. Gábor Cséti,
Chairman of the Supervisory Board
|
|
