Nordzucker_GB 03-04_E_.pd 1 - Nordzucker AG

9.3. Sundry Details
Remuneration for members of the
managing board in the year under review
total Tt 1,941. This is made up of a fixed
and a variable component. The variable
component is set by the personnel committee
of the supervisory board and is
dependent on goals set by the managing
board being reached. This variable component
should not exceed 40% of total
remuneration. There are no option rights
for board members.
The supervisory board received total
remuneration of Tt 514 based on the
general meeting approving the dividend
proposal. Remuneration of Tt 34 was
paid to members of the advisory board.
Pension obligation towards former
members of the managing board in line
with Section 6a of the income tax law
was recognised at Tt 5,626. Remuneration
amounted to Tt 419.
In accordance with Section 267 Commerical
Code, the following numbers of
staff were employed (on annual average):
Nordzucker AG Group
Industrial staff 1,052 2,359
White-collar staff 507 1,399
Total 1,559 3,758
For the limited commercial partnerships
(with a private limited company as
general partner)
• Nordzucker GmbH & Co. KG,
Braunschweig/Germany
• Medopharm Arzneimittel GmbH &
Co. KG, Ehrenkirchen
• Anton Hübner GmbH & Co. KG,
Ehrenkirchen/Germany
we have submitted a request in compliance
with Section 264b Commercial
Code to exempt us from our duty to prepare
financial statements in accordance
with German law.
We have provided short-term sureties
amounting to Tt 2,434 to Avacon AG,
Helmstedt/Germany.
At the balance sheet date, we have
purchase commitments of t 10m for the
Nordzucker AG and t 11.2m for the
group.
In compliance with Section 20, para. 1
of the German Stock Corporation Act,
two companies, Zucker-Aktiengesellschaft
Uelzen-Braunschweig, Uelzen/Germany
and Nordzucker Holding AG,
Braunschweig, have informed us that they
hold an interest in our company.
10. Net Income/
Appropriation of Profits
At the general meeting, the boards will
recommend that from this year’s net
income of
t 25,502,664.01
a dividend of
t 0.49 per share,
or t 22,496,141.57
be paid, and that
t 3,000,000.00
be set aside as
retained earnings, and t 6,522.44
that be carried forward
to new account.
t 25,502,664.01
Braunschweig, 29 April 2004
The Managing Board
Dr. Ulrich Nöhle
Jens Fokuhl
Günter Jakobiak
Nordzucker 2003/2004 59