Ä
Ĺ?
(1#!3.1 Ä“ĹŠ ĹŠ ĹŠ }
Ä–ĹŠ Ä“ĹŠ ^ĹŠ } ĹŠ }
87I; 9EDIJ?JK9?ED7B ;b 7hj$ ,, dkc[hWb ' Z[ bW 9edij_jkY_ÂŒd Z[ bW H[f‘Xb_YW l_][dj[ i[‹WbW ÆI[ h[YedeY[ o ]WhWdj_pWh| W bWi f[hiedWi0 '$ ;b Z[h[Y^e W bW _dl_ebWX_b_ZWZ Z[ bW l_ZW$ De ^WXh| f[dW Z[ ck[h# j[Ç$ 9edYehZWdY_Wi0 7hji$ )+" *+ o ,, dkc[hWb '& 9edij_jkY_ÂŒd [ bW H[f‘Xb_YW$ ;b 7hj$ *+ Z[ bW 9edij_jkY_ÂŒd Z[ bW H[f‘Xb_YW" i[‹WbW [d ik _dY_ie fh_c[he ÆBWi d_‹Wi" d_‹ei o WZe# b[iY[dj[i ]epWh|d Z[ bei Z[h[Y^ei Yeckd[i Z[b i[h ^kcWde" WZ[c|i Z[ bei [if[Y‡\_Yei Z[ ik [ZWZ$ ;b ;ijWZe h[YedeY[h| o ]WhWdj_pWh| bW l_ZW" _dYbk_Ze [b Yk_ZWZe o fhe# j[YY_ÂŒd Z[iZ[ bW YedY[fY_ÂŒd BWi d[]h_bbWi ied c‡Wi Ç$ 9edYehZWdY_Wi0 7hj$ )+ o ,, dkc[hWb ' o '& 9edij_jkY_ÂŒd Z[ bW H[f‘Xb_YW$ 7hj$ ,,$# I[ h[YedeY[ o ]WhWd# j_pWh| W bWi f[hiedWi0 $$$ '&$ ;b Z[h[Y^e W jecWh Z[Y_i_ed[i b_Xh[i" h[ifediWXb[i [ _d\ehcWZWi ieXh[ ik iWbkZ o l_ZW h[fheZkYj_lW o W Z[Y_Z_h Yk|dZe o Yk|djWi ^_`Wi [ ^_`ei j[d[h$ 9edYehZWdY_Wi0 7hj$ ,, dkc[# hWb '" (" )(( 9edij_jkY_ÂŒd Z[ bW H[f‘Xb_YW$ JH7J7:EI ?DJ;HD79?ED7B;I IE8H; ;B :;H;9>E 7 B7 L?:7 J[d[cei bei i_]k_[dj[i0 '$ BW :[YbWhWY_ÂŒd Kd_l[hiWb Z[ :[h[Y^ei >kcWdei" [d ik j[h# Y[h Whj‡Ykbe i[‹WbW ÆGk[ jeZe _dZ_l_Zke j_[d[ Z[h[Y^e W bW l_ZW" W bW b_X[hjWZ o W bW i[]kh_# ZWZ Z[ ik f[hiedWÇ1 ($ ;b FWYje ?dj[hdWY_edWb Z[ :[h[Y^ei 9_l_b[i o Feb‡j_Yei" i[‹WbW [d ik 7hj$ , gk[ Æ;b Z[h[Y^e W bW l_ZW [i _d^[h[dj[ W bW f[hiedW ^kcWdWÇ1 )$ BW :[YbWhWY_ÂŒd 7c[h_YWdW ieXh[ :[h[Y^ei o :[X[h[i Z[b >ecXh[ Z_ifed[ [d ik 7hj$ ' gk[ ÆJeZe i[h ^kcWde j_[d[ Z[h[Y^e W bW l_ZW" W bW b_X[hjWZ o bW _dj[]h_ZWZ Z[ ik f[hiedWÇ1 *$ BW 9edl[dY_ÂŒd 7c[h_YWdW ieXh[ :[h[Y^ei >kcWdei [d ik 7hj$ * dkc[hWb ' Z_Y[ ÆJeZW
"(3.1 ĹŠ ÂĄ ĹŠ
Ĺ?Ä Ä‡Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ? ÄŒĹ? Ĺ? +Ä?Ĺ?ĊćĀĂ
ĹŠ ĹŠ ÂĄ ĹŠ ĹŠ ĹŠ ĹŠ ĹŠĹŠĹŠĹŠ'33/ľľ666Ä“"#1#!'.#!4 ".1Ä“!., (1#!!(¢-Ä–ĹŠ 1#- 2ĹŠ8ĹŠÄˆÄ‡ĹŠ"#ĹŠ %.23.ĔŊ "($Ä“ĹŠ (5 -!.ĔŊĎ3.Ä“ĹŠ/(2.ŊġŊ #+_$.-.2Ä–ĹŠÄ‰ÄŽÄŽÄˆÄąÄŽÄŽÄ‰ÄľÄ‰ÄŽÄŽÄŽÄąÄŒÄŠÄˆÄľÄ‰ÄŽÄ‡Ä‡ÄąÄ‰ÄŒÄŽÄľÄ‰ÄŽÄŽÄ‰ÄąÄˆÄŠÄŽĹŠĹŠÄˇĹŠ Äą, (+Ä– ĹŠ)4"(!( +Äž"#1#!'.#!4 ".1Ä“!.,ĹŠ
#1#!'.ĹŠ ĹŠ+ ĹŠ (-5(.+ (+(" "ĹŠ "#ĹŠ+ ĹŠ5(" f[hiedW j_[d[ Z[h[Y^e W gk[ i[ h[if[j[ ik l_ZW$ ;ij[ Z[h[Y^e [ijWh| fhej[]_Ze feh bW b[o o [d ][d[hWb" W fWhj_h Z[b cec[dje Z[ bW YedY[fY_Â&#x152;d$ DWZ_[ fk[Z[ i[h fh_lWZe Z[ bW l_ZW WhX_jhW# h_Wc[dj[Ă&#x2021;1 +$ ;b 9edl[d_e ;khef[e fWhW bW Fhej[YY_Â&#x152;d Z[ bei :[h[Y^ei >kcWdei o Z[ bWi B_X[hjWZ[i <kdZWc[djWb[i" Z_ifed[ [d [b 7hj$ ( Ă&#x2020;;b Z[h[Y^e Z[ jeZW f[hiedW W bW l_ZW [ij| fhej[]_Ze feh bW B[oĂ&#x2021;$ 9EC;DJ7H?E FWhW WdWb_pWh [ij[ Z[h[Y^e Yedi# j_jkY_edWb W bW _dl_ebWX_b_ZWZ Z[ bW l_ZW" [i c[d[ij[h ^WY[h Wb]kdWi WYejWY_ed[i Z[ ehZ[d b[]Wb o ][d[# hWb$
B7 L?:7 IE8H; B7 J?;HH7 I[ YWbYkbW gk[ bW J_[hhW ^W Yec[dpWZe ik l_W`[ ^WY[ *$+&& c_bbed[i Z[ WÂ&#x2039;ei" o gk[ bW l_ZW i[ eh_]_dÂ&#x152; ieXh[ [bbW ^WY[ )$&&& c_bbed[i Z[ WÂ&#x2039;ei1 feh ejhW fWhj[" i[ ^W WZc_j_Ze gk[ bW l_ZW i[ YecfedÂ&#x2021;W Z[ ^_ZhÂ&#x152;][de" c[jW# de" Wced_WYe" Z[ lWfeh Z[ W]kW1 o [ij[ ZWje [i _cfehjWdj[" oW gk[ jeZe [b ckdZe iWX[" [d [\[Yje" gk[ [d bW cWj[h_W l_lW dei [dYedjhW# cei [i[dY_Wbc[dj[ Yed YWhXede" d_jhÂ&#x152;][de" en_][de [ ^_Zhe][de" o [i Ykh_eie YecfheXWh gk[ [ijei YkWjhe [b[c[djei X|i_Yei i[ ^WbbWd fh[i[dj[i [d bW WjcÂ&#x152;i\[hW fh[jÂ&#x192;# h_jW$
Wb c_ij_Y_ice" Wkdgk[ i_]k[ i_[d# Ze" i_d [cXWh]e" [d be [i[dY_Wb kd ieb_jWh_e" fk[i ik l_ZW" Z_h_]_ZW fh_dY_fWbc[dj[ feh [b Z[i[e Z[ [iYWfWh W bei f[b_]hei" b[ YedZkY[ Z[ ]hkjW [d ]hkjW" Z[ YWl[hdW [d YWl[hdW1 f[iYW" YWpW o cWjW" Yed# \ehc[ be i[Â&#x2039;WbW 7bX[hj :[bWkdWo" [d ik eXhW B7 L?:7 IE8H; B7 J?;HH7$
>Wo gk[ WYbWhWh Yece Z_Y[ bW Y_[dY_W" gk[ [d bW cWj[h_W l_l_[dj[" bei YkWjhe [b[c[djei Wdj[i c[d# Y_edWZei" de [n_ij[d [d [ijWZe b_Xh[ o gk[ [djhWd [d Yecfk[ijei fhej[Â&#x2021;dWi" ]bÂ&#x2018;Y_Zei" bÂ&#x2021;f_Zei" |Y_# Zei dkYb[Â&#x2021;Yei " Z[ bei YkWb[i bei c|i Yecfb[`ei i[ bbWcWd cWYhe# cebÂ&#x192;YkbWi" o Â&#x192;ij[ [i [b eh_][d Z[ bW l_ZW$ :[ be WdejWZe i[ Z[ifh[dZ[" gk[ [b ^ece iWf_[di [n_ij[ Z[iZ[ ^WY[ (+$&&& WÂ&#x2039;ei" gk[ [i cko feYe i_ be YecfWhWcei Yed bei c_b[i Z[ c_bbed[i Z[ WÂ&#x2039;ei gk[ WYWXWcei Z[ c[dY_edWh" WYbWhWdZe gk[ feh i[h iWf_[di ^W Z[ceijhWZe oW be gk[ b[ f[hc_jÂ&#x2021;W ik _dj[b_][dY_W [d [b jhW# XW`e Z[ bW f_[ZhW o Z[b ^k[ie" [d bW Yh[WY_Â&#x152;d Z[ kd Whj[ o [d ik WXWdZede
ÂľGKx ;I B7 L?:75 9ed\ehc[ i[Â&#x2039;WbW 7bX[hj :[bWkdWo [d bW eXhW Wdj[i c[dY_e# dWZW Ă&#x2020;9_[hjWc[dj[ [d bW _dc[diW cWoehÂ&#x2021;W Z[ bei YWiei" YkWbgk_[hW fk[Z[ Z_ij_d]k_h kd i[h l_l_[dj[ X_[d i[ jhWj[ Z[ kdW XWYj[h_W" Z[ kd |hXeb e Z[ kd ^ecXh[ Z[ kd eX`[je _dWd_cWZe f_[ZhW" c[iW e YkX[# jW $ Bei ^ecXh[i Z[ Y_[dY_W" feh ik fWhj[" de i[ ^Wd l_ije eXb_]WZei W Z[ifb[]Wh ]hWdZ[i [i\k[hpei fWhW fh[Y_iWh bWi fhef_[ZWZ[i [i[dY_W# b[i gk[ ikXhWoWd bWi YWhWYj[hÂ&#x2021;i# j_YWi l_jWb[i Z[ kd i[h$ ;ijWi fhe# f_[ZWZ[i ied Y_dYe0 i[di_X_b_ZWZ" cel_b_ZWZ" feZ[h Z[ Wi_c_bWY_Â&#x152;d" feZ[h Z[ h[fheZkYY_Â&#x152;d o" [d \_d" [lebkY_Â&#x152;d \WjWb Z[b dWY_c_[dje W bW ck[hj[Ă&#x2021;$ ;b Z_ij_d]k_Ze cW[ijhe Z[ bW <WYkbjWZ Z[ @kh_ifhkZ[dY_W Z[ bW Kd_l[hi_ZWZ 9[djhWb Z[b ;YkWZeh" :h$ IjWb_d <$ El_[Ze =$" [d ik b_Xhe 9ECF;D:?E :; C;:?9?D7 B;=7B i[Â&#x2039;WbW ieXh[ bW l_ZW Ă&#x2020;;i kdW \ehcW Z[ [gk_b_Xh_e _d[ijW# Xb[ o Z_d|c_Ye" Yedij_jk_ZW feh kdW Yecfb[`W" i_dYhÂ&#x152;d_YW e ikY[# i_lW1 W bW l[p gk[" WdjW]Â&#x152;d_YW e i_dÂ&#x192;h]_YW" _dj[hh[bWY_Â&#x152;d Z[ \[dÂ&#x152;# c[dei \Â&#x2021;i_Yei#gkÂ&#x2021;c_Yei#X_ebÂ&#x152;# ]_Yei" j[dZ_[dj[i W cWdj[d[h bei fheY[iei Z[ <;9KD:79?âD" =;IJ79?âD" >;H;D9?7" ;LEBK9?âD" D79?C?;DJE" 9H;9?C?;DJE" :;I7HHEBBE O 7:7FJ79?âD1 WiÂ&#x2021; Yece _dle# bkY_Â&#x152;d o ck[hj[ Z[ bei i[h[i ^kcW# deiĂ&#x2021;$ 7DJ;9;:;DJ;I >?IJâH?9EI 7 B7 F;D7 :; CK;HJ; 9ed\ehc[ i[Â&#x2039;WbW [b BYZe$ @kWd <[b_f[ 9[Z[Â&#x2039;e ;]Â&#x201D;[p [d ik j[i_i ZeYjehWb fh[i[djWZW [d bW <WYkbjWZ Z[ @kh_ifhkZ[dY_W Z[ bW Kd_l[hi_ZWZ 9[djhWb Z[b ;YkWZeh" bW bbWcWZW f[dW YWf_jWb" [i bW iWd# Y_Â&#x152;d f[dWb c|i h_]kheiW Z[ jeZWi" :FEK@EL8 <E C8 GĂ?>@E8 $ :)
Ĺ? Ĺ?
Ĺ?
Ĺ? Ĺ?
Ĺ?
Ä&#x201A;
Ĺ? Ä Ä&#x2021;Ĺ? Ĺ? Ĺ? Ĺ?Ä&#x201A;Ä&#x20AC;Ä Ä
Ĺ? +. Ĺ? Ä&#x152;Ĺ?
c[Z_Wdj[ bW YkWb i[ ehZ[dW W jhW# lÂ&#x192;i Z[ bei jh_XkdWb[i Z[b ;ijWZe" bW fh_lWY_Â&#x152;d Z[ bW l_ZW Wb Z[b_dYk[d# j[ i[dj[dY_WZe Yece YkbfWXb[" feh c[Z_e Z[ bW [`[YkY_Â&#x152;d$ ;d HecW" [b fh_c[h Z[b_je YWi# j_]WZe Yed bW f[dW Z[ ck[hj[ \k[ [b YedeY_Ze Yece Z[ f[hZk[bb_e" [ije [i feh jhW_Y_Â&#x152;d W bW fWjh_W1 bW B[o Z[ bWi N?? JWXbWi" jWcX_Â&#x192;d [ijWXb[Y_Â&#x152; bW f[dW Z[ ck[hj[ fWhW ejhei Z[b_jei" [if[Y_Wbc[dj[ fWhW [b ^ec_Y_Z_e" Z[b_jei i[nkWb[i" Z[b_jei YedjhW bW iWbkZ" Z[b_jei Z[ ehZ[d febÂ&#x2021;j_Ye o c_b_jWh" [jY$1 f[he Yed bW YWhWYj[hÂ&#x2021;ij_YW Z[ gk[ bW Wkje# h_ZWZ feZÂ&#x2021;W Z[`Wh bW Wfb_YWY_Â&#x152;d Z[b JWb_Â&#x152;d Wb e\[dZ_Ze e W iki fWh_[d# j[i" bk[]e bb[]W [b 9h_ij_Wd_ice gk[ fh[Z_YW [b Wceh Wb fhÂ&#x152;`_ce o i_[djW bWi XWi[i WXeb_Y_ed_ijWi Z[ bW f[dW Z[ ck[hj[1 Wkd YkWdZe ^Wo gk[ h[YehZWh gk[ IWdje Jec|i Z[ 7gk_de [d ik eXhW Ă&#x2020;IkccW J[ebÂ&#x152;]_YWĂ&#x2021; ieij_[d[ Ă&#x2020;JeZe feZ[h Yehh[Yj_le o iWdY_edWjeh_e fhe# l_[d[ Z[ :_ei" gk_[d be Z[b[]W W bW ieY_[ZWZ Z[ ^ecXh[i" feh be YkWb [b feZ[h fÂ&#x2018;Xb_Ye [ij| \WYkbjWZe Yece h[fh[i[djWdj[ Z_l_de" fWhW _cfe# d[h jeZW YbWi[ Z[ iWdY_ed[i `khÂ&#x2021;Z_# YWi Z[X_ZWc[dj[ _dij_jk_ZWi Yed [b eX`[je Z[ Z[\[dZ[h bW iWbkZ Z[ bW ieY_[ZWZ$ :[ bW c_icW cWd[hW gk[ [i Yedl[d_[dj[ o bÂ&#x2021;Y_je Wcfk# jWh kd c_[cXhe fkjh[\WYje fWhW iWblWh bW iWbkZ Z[b h[ije Z[b Yk[hfe" Z[ bW c_icW cWd[hW be [i jWcX_Â&#x192;d [b_c_dWh Wb Yh_c_dWb f[hl[hj_Ze c[Z_Wdj[ bW f[dW Z[ ck[hj[ fWhW iWblWh Wb h[ije Z[ bW ieY_[ZWZĂ&#x2021;$ ;d 7cÂ&#x192;h_YW" [d [b f[h_eZe ?dY|i_Ye bW f[dW Z[ ck[hj[ [n_i# jÂ&#x2021;W [if[Y_Wbc[dj[ h[if[Yje W bWi _d\hWYY_ed[i YedjhW [b ?dYW" bW 9ehj[" bW deXb[pW e W bWi f[hiedWi [dYWh]WZWi Z[ bei h_jei h[b_]_eiei" Yece bWi lÂ&#x2021;h][d[i Z[b ieb" fk[i [hWd Yedi_Z[hWZWi _d\hWYY_ed[i ]hWl[i" gk[ eXb_]WXWd W bei `k[Y[i _dY|i_Yei" W _cfed[h f[dWi cko i[l[hWi" de iebWc[dj[ W bei _d\hWY# jeh[i i_de Wb fk[Xbe Wb YkWb f[hj[# d[YÂ&#x2021;Wd1 fk[i Yece Z_Y[ [b ?bkijh[ [n Fhe\[ieh Z[ bW Kd_l[hi_ZWZ 9[djhWb Z[b ;YkWZeh" I[h]_e F|[p Ebc[Ze" bW f[dW Z[ ck[hj[ o bWi f[dWi _d\WcWdj[i [hWd cko Yeckd[i [d [i[ [djedY[i o i[ bWi _cfedÂ&#x2021;Wd W bei _d\hWYjeh[i Z[bWdj[ Z[b fk[Xbe" fk[i Z[ [ijW cWd[hW i[ XkiYWXW bW h[fWhWY_Â&#x152;d cWj[h_Wb Z[b ZWÂ&#x2039;e YWkiWZe Wb ehZ[d fÂ&#x2018;Xb_Ye" febÂ&#x2021;j_Ye" ieY_Wb e W bW Z_l_d_ZWZ o WiÂ&#x2021; jWcX_Â&#x192;d i[ Yedi[]kÂ&#x2021;W gk[ bW ][dj[ j[d]W j[ceh W Z_Y^W iWdY_Â&#x152;d" f[he
Ĺ?
`Wc|i i[ iWdY_edWXW W f[hiedWi [d _]kWbZWZ Z[ YedZ_Y_ed[i" i_de gk[ i[ Yedi_Z[hWXW bW [ZWZ Yece Yedij_jkj_lW Z[ YkbfW o [b [ijWZe Z[ d[Y[i_ZWZ [d bei Z[b_jei YedjhW bW fhef_[ZWZ$ ;b c_ice Wkjeh i[Â&#x2039;WbW Ă&#x2020;I[ j[dÂ&#x2021;W bW _Z[W Z[ gk[ bWi b[o[i f[dWb[i Wdj[ jeZe [hWd fh[l[dj_lWi" gk[ Z[XÂ&#x2021;Wd fheZkY_h Xk[dei [\[Yjei" fWhW Ykcfb_h [d [ijW \ehcW [b cWdZWje Z_l_de Z[b Z_ei ieb gk[ _bkc_dW iki WYY_ed[i" feh [ijW hWpÂ&#x152;d bW cÂ&#x2021;d_cW jhWi]h[i_Â&#x152;d Z[ bW b[o [hW Yedi_Z[# hWZW kd iWYh_b[]_e$ ;d [ijW \ehcW [b fk[Xbe _dY|i_Ye [ijWXW eXb_]WZe W h[l[bWh iki [hheh[i o i[Yh[jei o XkiYWh \[hl_[dj[c[dj[ bW \ehcW Z[ [nf_Whbei$ I[]Â&#x2018;d bW jhWZ_Y_Â&#x152;d" d_d]Â&#x2018;d c_[cXhe Z[ bW \Wc_b_W h[Wb `Wc|i c[h[Y_Â&#x152; YWij_]eĂ&#x2021;$ BWi B[o[i Z[ ?dZ_Wi [d cWj[h_W Z[ Z[b_jei o f[dWi" Yece i[Â&#x2039;WbW [d ik j[i_i ZeYjehWb [b BYZe$ @kWd <[b_f[ 9[Z[Â&#x2039;e" Yedi_Z[hWd bW Z_l_i_Â&#x152;d Z[ bei Z[b_jei i[]Â&#x2018;d ik dWjkhWb[pW" [d fÂ&#x2018;Xb_Yei o fh_lW# Zei" Yed [b Yedi_]k_[dj[ ehZ[d Z[ ]hWl[ZWZ0 '$ F[dW Z[ ck[hj[1 ($ F[dWi YehfehWb[i gk[ Yec# fh[dZÂ&#x2021;Wd0 W Ckj_bWY_Â&#x152;d Z[ eh[`Wi1 X Ckj_bWY_Â&#x152;d Z[ bW b[d]kW1 Y Ckj_bWY_Â&#x152;d Z[ Z_[dj[i1 Z CWhYWi [d bW YWhW1 [ 7pej[i$ )$ F[dWi fh_lWj_lWi Z[ bW b_X[h# jWZ" gk[ ied0 W Fh_i_Â&#x152;d1 X ;nfkbi_Â&#x152;d e [njhWÂ&#x2039;Wc_[dje1 o" Y :[ij_[hhe$ *$ F[dW [if[Y_Wb Z[ ]Wb[hWi Yed jhWXW`ei \ehpWZei1 o" +$ F[dWi f[Ykd_Wh_Wi" Yece ckb# jWi$ ;b Wkjeh Y_jWZe cWd_\_[ijW" gk[ bW f[dW Z[ ck[hj[ i[ [`[YkjWXW Z[ lWh_Wi \ehcWi0 W^ehYWc_[dje" Z[YWf_jWY_Â&#x152;d" ]Whhej[" [ijhWd]k# bWc_[dje o \ki_bWc_[dje" f[he bW ^ehYW \k[ bW \ehcW Z[ [`[YkY_Â&#x152;d c|i YecÂ&#x2018;d" fk[i i[ bW fhWYj_YWXW [d fÂ&#x2018;Xb_Ye o Yed [b cWoeh WfWhWje Z[ Z_\ki_Â&#x152;d" W \_d Z[ YedY_[dj_pWh W bW ][dj[ h[if[Yje Z[ bW ]hWl[ZWZ Z[b Z[b_je o ik WXij_d[dY_W$ ;d bW xfeYW H[fkXb_YWdW jWc# X_Â&#x192;d [n_ij_Â&#x152; bW f[dW Z[ ck[hj[" o i_ X_[d bWi 9edij_jkY_ed[i Z[ '.)& o '.)+ de ]WhWdj_pWXWd [nfh[iW# c[dj[ [b Z[h[Y^e W bW l_ZW" jWc# feYe i[ [nfh[iWXW gk[ [n_ijÂ&#x2021;W bW f[dW Z[ ck[hj[ [d \ehcW [nfh[iW1 f[he [d YWcX_e i[ Z[`W YedijWd# Y_W Z[ gk[ kdW Z[ bWi Wjh_XkY_ed[i Z[b 9ed]h[ie DWY_edWb [hW Yed# Y[Z[h _dZkbjei YkWdZe be [n_]Â&#x2021;W bW Yedl[d_[dY_W fÂ&#x2018;Xb_YW o gk[ [b Fh[i_Z[dj[ Z[ bW H[fÂ&#x2018;Xb_YW j[dÂ&#x2021;W bW \WYkbjWZ Z[ YedckjWh bW f[dW Z[ ck[hj[1 _]kWbc[dj[ YkWdZe be [n_# ]Â&#x2021;W bW Yedl[d_[dY_W fÂ&#x2018;Xb_YW" fh[l_e
_d\ehc[ Z[b jh_XkdWb h[if[Yj_le$ ;b fh_c[h 9Â&#x152;Z_]e F[dWb" o Z[ FheY[Z_c_[dje F[dWb gk[ i[ Z_Y# jWhed [d bW Fh[i_Z[dY_W Z[ Zed L_Y[dj[ HeYW\k[hj[ [d [b WÂ&#x2039;e Z[ '.)-" i[ i[Â&#x2039;WbWXW bW f[dW Z[ ck[hj[ fWhW Wb]kdei Z[b_jei Yece c[Z_# ZW Z[ i[]kh_ZWZ Z[ kdW ieY_[ZWZ" Ykoe \_d fh_cehZ_Wb [hW Z[\[dZ[h bei fh_l_b[]_ei Z[ bWi YbWi[i Zec_# dWdj[i" o [n_ijÂ&#x2021;W kd fheY[Z_c_[dje Yhk[b fWhW Wfb_YWh Z_Y^W f[dW Wb i[Â&#x2039;WbWh Yece ^W Z[ i[h YedZkY_# Ze [b h[e Wb YWZWbie" bW l[ij_c[d# jW [if[Y_Wb gk[ Z[XÂ&#x2021;W bb[lWh" bWi i[]kh_ZWZ[i gk[ Z[XÂ&#x2021;Wd jecWhi[ fWhW [l_jWh ik \k]W" bW \ehcW [d gk[ Z[XÂ&#x2021;W i[h [`[YkjWZe" bWi f[h# iedWi gk[ be Z[X[hÂ&#x2021;Wd WYecfWÂ&#x2039;Wh" bei YedZ[dWZei gk[ Z[XÂ&#x2021;Wd l[hbe ceh_h" [jY$1 c|i WÂ&#x2018;d [b YWZ|l[h Z[b YedZ[dWZe j[dÂ&#x2021;W gk[ fheZkY_h Wdj[ bW YedY_[dY_W fÂ&#x2018;Xb_YW j[ceh o [iYWhc_[dje feh bW cWb_Y_W Z[b WYje" o bei Z[ife`ei cehjWb[i Z[b h[e Z[XÂ&#x2021;Wd i[h [nfk[ijei fÂ&#x2018;Xb_# YWc[dj[1 WiÂ&#x2021; [b 7hj$ +& Z[ Z_Y^e 9Â&#x152;Z_]e F[dWb h[YWbYWXW gk[ bW f[dW YWf_jWb ^W Z[ i[h Ykcfb_ZW e [`[YkjWZW [d [b bk]Wh ZedZ[ i[ Yec[j_Â&#x152; [b Z[b_je" o Z[ de i[h fei_# Xb[ ik Ykcfb_c_[dje [d [b bk]Wh Z[ eh_][d o feh hWped[i _cfedZ[# hWXb[i [d bW YWX[Y[hW Z[b YWdjÂ&#x152;d [d bWi YWf_jWb[i Z[ fhel_dY_W$ BW 9edij_jkY_Â&#x152;d Z[ '.+& [b_c_dW feh fh_c[hW l[p bW f[dW Z[ ck[hj[ fWhW bei Z[b_jei fkhWc[dj[ febÂ&#x2021;j_# Yei" h[[cfbWp|dZebW feh [b [njhW# Â&#x2039;Wc_[dje feh Z_[p WÂ&#x2039;ei1 o [ije be Yed\_hcWd bWi 9edij_jkY_ed[i Z[ '.+( o '.,'" Wkd YkWdZe bW 9edij_jkY_Â&#x152;d Z[ '.,/ h[_cfbWdjÂ&#x152; bW f[dW YWf_jWb" [ije [i [d [b j_[c# fe Z[b fh[i_Z[dj[ =WhYÂ&#x2021;W Ceh[de" YedeY_Ze Yece xfeYW =WhY_WdW [d bW gk[ [nfh[iWc[dj[ i[ [ijWXb[YÂ&#x2021;W bW f[dW Z[ ck[hj[ W bW j[djWj_lW Z[ WXeb_h e lWh_Wh [d [b ;YkWZeh bW h[b_]_Â&#x152;d 9WjÂ&#x152;b_YW" 7feijÂ&#x152;b_YW o HecWdW$ H[YWbYe gk[ bW 9edij_jkY_Â&#x152;d Z[ './- [b_c_dW jejWbc[dj[ bW f[dW YWf_jWb fWhW bWi _d\hWYY_ed[i febÂ&#x2021;# j_YWi o Yeckd[i" f[he [b 9Â&#x152;Z_]e F[dWb C_b_jWh bW cWdjkle1 [d [b 7hj$ '* Z[ Z_Y^W 9edij_jkY_Â&#x152;d i[ i[Â&#x2039;WbW Ă&#x2020;Gk[ZW WXeb_ZW bW f[dW Z[ ck[hj[ feh _d\hWYY_ed[i febÂ&#x2021;j_YWi o Yeckd[iĂ&#x2021;1 c_[djWi gk[ [b 7hj$ '+" i[Â&#x2039;WbW bW \WYkbjWZ Z[ YedY[Z[h Wcd_ijÂ&#x2021;Wi e _dZkbjei ][d[hWb[i e fWhj_YkbWh[i oW i[W feh fWhj[ Z[b FeZ[h ;`[Ykj_le e Z[b 9ed]h[ie DWY_edWb$ 9EC;DJ7H?EI IE8H; B7 F;D7 :; CK;HJ; 7cd_ijÂ&#x2021;W ?dj[hdWY_edWb i[Â&#x2039;WbW Yed hWpÂ&#x152;d Ă&#x2020;9kWdZe [i [b ;ijWZe [b gk[ cWjW $$$ bei Z[h[Y^ei ^kcW# dei \h[dj[ W bW f[dW Z[ ck[hj[" fk[i ^Wo Wb]kdei ]eX_[hdei gk[ jeZWlÂ&#x2021;W Yh[[d [d bW [`[YkY_Â&#x152;d Z[
bWi f[hiedWi Yece kd c[Z_e fWhW h[iebl[h bei fheXb[cWi ieY_Wb[i o febÂ&#x2021;j_Yei kh][dj[i" f[he gk[ ^Wo kdW j[dZ[dY_W WXeb_Y_ed_ijW W d_l[b _dj[hdWY_edWb" o gk[ de i[ fk[Z[ Z_ieY_Wh bW f[dW YWf_jWb Z[ bei Z[h[Y^ei ^kcWdei" i[W YkWb \k[h[ bW hWpÂ&#x152;d gk[ ZÂ&#x192; [b ;ijWZe fWhW cWjWh kd h[e o [b cÂ&#x192;jeZe Z[ [`[YkY_Â&#x152;d [cfb[WZe1 c|i WÂ&#x2018;d gk[ [i j[hh_Xb[ h[YedeY[h" gk[ bW Y_[dY_W o bW j[Ydebe]Â&#x2021;W" YediY_[dj[i Z[ bW [n_ij[dY_W Z[ bW f[dW Z[ ck[hj[" i[ ^Wd fh[eYkfWZe feh cWjWh f[h# iedWi [d [b c[deh j_[cfe fei_Xb[ o Yed [b c[deh ik\h_c_[dje o Z[ [ij[ ceZe i[ ^Wd be]hWZe WlWd# Y[i" fhe]h[iei o YWcX_ei [d bei cÂ&#x192;jeZei Z[ [`[YkY_Â&#x152;d" fWhW Z[ [ij[ ceZe b_c_jWh [b Zebeh \Â&#x2021;i_Ye" fk[i i[ h[YedeY[ gk[ bW f[dW Z[ ck[hj[ [i bW \ehcW c|i Yhk[b" c|i _d^k# cWdW o Z[]hWZWdj[ _dl[djWZW feh [b ^ecXh[" fWhW l_eb[djWh o f_ie# j[Wh bei Z[h[Y^ei \kdZWc[djWb[i Z[b c_ice ^ecXh[" [if[Y_Wbc[dj[ Wgk[b" _dWb_[dWXb[" Yece [i [b Z[h[# Y^e W bW l_ZW$ >Wo gk[ i[Â&#x2039;WbWh" gk[ i[]Â&#x2018;d [b BYZe$ @kWd <[b_f[ 9[Z[Â&#x2039;e" bW f[dW YWf_jWb [ij| f[hc_j_ZW [d [b 7hj$ * Z[b FWYje ?dj[hdWY_edWb Z[ :[h[Y^ei 9_l_b[i o FebÂ&#x2021;j_Yei" _]kWbc[dj[ [d bW 9edl[dY_Â&#x152;d 7c[h_YWdW o [d [b Whj$ ( Z[ bW 9edl[dY_Â&#x152;d ;khef[W" f[he [d YWZW kde Z[ [ijei jhWjWZei i[ bW ^W iec[j_Ze W _cfehjWdj[i b_c_jWY_e# d[i gk[ j_[dZ[d W ik [b_c_dWY_Â&#x152;d fhe]h[i_lW1 h[YehZWdZe gk[ Z[iZ[ bW 9edij_jkY_Â&#x152;d Z[ './-" [d dk[ijhe fWÂ&#x2021;i i[ [b_c_dW jejWbc[dj[ bW f[dW YWf_jWb fWhW bWi _d\hWYY_ed[i febÂ&#x2021;j_# YWi o Yeckd[i" o [ijW Z_ifei_Y_Â&#x152;d ^W i_Ze cWdj[d_ZW feh jeZWi bWi 9edij_jkY_ed[i l_][dj[i ^WijW bW Z[b (&&.$ ;b :h$ ;hd[ije 7bX|d =Â&#x152;c[p" [d [b WhjÂ&#x2021;Ykbe fkXb_YWZe [d BW H[l_ijW Del[ZWZ[i @khÂ&#x2021;Z_YWi De$ +. Z[ ;Z_Y_ed[i B[]Wb[i" cWd_\_[ijW" gk[ ckY^ei [ijWZei Z[ bei ;ijWZei Kd_Zei Z[ 7cÂ&#x192;h_YW ^Wd [b_c_dW# Ze bW f[dW Z[ ck[hj[1 [d jeZe YWie i[Â&#x2039;WbWdZe gk[ bW f[dW Z[ ck[hj[ ][d[hW [d bei ;ijWZei Kd_Zei kd WYWbehWZe Z[XWj[ [djh[ bei WXeb_# Y_ed_ijWi o gk_[d[i WXe]Wd feh ik cWdj[d_c_[dje" [ _dYbki_l[ feh ik h[_cfbWdjWY_Â&#x152;d [d bei ;ijWZei gk[ bW ^Wd [b_c_dWZe$ H[YWbYW" gk[ [b fkdje Z[ fWh# j_ZW Z[ Z[XWj[" [i Z[ YWh|Yj[h Yedij_jkY_edWb" fk[i bW EYjWlW ;dc_[dZW Z[ bW 9edij_jkY_Â&#x152;d Z[ Z_Y^e fWÂ&#x2021;i" fhe^Â&#x2021;X[ bWi f[dWi Yhk[b[i e _dkikWb[i" feh be YkWb i[ ^W fbWdj[WZe i_ bW f[dW Z[ ck[hj[ fk[Z[ e i[h YWb_\_YWZW Z[ Yhk[b [ _dkikWb" c|i Wkd Yedi_Z[hWdZe gk[ bWi b[o[i f[dWb[i W jhWlÂ&#x192;i Z[ bei WÂ&#x2039;ei [d Z_\[h[dj[i [ijWZei Z[ Z_Y^e fWÂ&#x2021;i" ^Wd _cfb[c[djWZe bW
f[dW Z[ ck[hj[ W jhWlÂ&#x192;i Z[ lWh_Wi cWd[hWi Z[ [`[YkY_Â&#x152;d" Yece bW0 ^ehYW" \ki_bWc_[dje" i_bbW [bÂ&#x192;Yjh_# YW" Y|cWhW Z[ ]Wi" _do[YY_Â&#x152;d b[jWb" bWi c_icWi gk[ ^Wd i_Ze YWb_\_YW# ZWi [d Wb]kdei YWiei Yece \ehcWi Yhk[b[i [ _dkikWb[i o WZ[c|i ^Wd j[d_Ze [b YWh|Yj[h Z[ Z_iYh_c_dW# jeh_Wi$ ;b :h$ ;hd[ije 7bX|d =Â&#x152;c[p WZ[c|i i[Â&#x2039;WbW gk[ bW Ikfh[cW 9ehj[ Z[ bei ;ijWZei Kd_Zei [d [b WÂ&#x2039;e Z[ '/-(" [d kdW ^_ijÂ&#x152;h_YW Z[Y_i_Â&#x152;d" [d [b YWie <khcWd l[h# iki =[eh]_W" Z[ bei dk[l[ cW]_i# jhWZei Z[ bW Ikfh[cW 9ehj[" ^kXe kdW Z[Y_i_Â&#x152;d Z_l_Z_ZW Y_dYe W YkW# jhe o Wkdgk[ [d Z_Y^W Z[Y_i_Â&#x152;d de i[ ieij[dÂ&#x2021;W [nfh[iWc[dj[ gk[ bW f[dW Z[ ck[hj[ [hW _dYedij_jkY_e# dWb" i_ i[ WZl[hjÂ&#x2021;Wd lWh_Wi _dYedi# j_jkY_edWb_ZWZ[i" jWdje [d bWi deh# cWi ikijWdj_lWi Z[ bei ;ijWZei" Yece [d bWi Z[ YWh|Yj[h fheY[iWb o ^WijW [d bWi fh|Yj_YWi `kZ_Y_Wb[i1 Z[ jeZei ceZei [b YWie Wdj[i c[d# Y_edWZe fheleYÂ&#x152; kdW cehWjeh_W Z[ ^[Y^e [d jeZe ;ijWZei Kd_Zei" fk[i bei [ijWZei gk[ Yed\ehcWd Z_Y^e fWÂ&#x2021;i" jkl_[hed gk[ h[Wb_pWh h[\ehcWi fWhW WYeceZWh iki deh# cWi W bei fh_dY_f_ei [ijWXb[Y_Zei [d Z_Y^W i[dj[dY_W$ H[YehZ[cei" gk[ bW Ikfh[cW 9ehj[ Z[ bei ;ijWZei Kd_Zei" [ij| Yed\ehcWZW feh dk[l[ cW]_ijhW# Zei o gk[ bW 9edij_jkY_Â&#x152;d Z[ Z_Y^e fWÂ&#x2021;i j_[d[ i_[j[ WhjÂ&#x2021;Ykbei o l[_dj[ o i_[j[ [dc_[dZWi1 WZ[c|i gk[ bWi lWYWdj[i gk[ i[ fheZkY[d [d Z_Y^W 7bjW 9ehj[ i[ bb[dWd W f[Z_# Ze Z[b Fh[i_Z[dj[ Z[ bei ;ijWZei Kd_Zei" gk[ fk[Z[ i[h :[cÂ&#x152;YhWjW e H[fkXb_YWde i[]Â&#x2018;d [b YWie" o gk[ feh jWb iki Z[Y_i_ed[i fk[Z[d lWh_Wh1 jWb [i WiÂ&#x2021; gk[ [d [b WÂ&#x2039;e '/-, [d [b YWie =h[]] l[hiki =[eh]_W" Z_Y^W 9ehj[ YWcX_Â&#x152; ik h[iebkY_Â&#x152;d" fk[i feh i_[j[ lejei W Zei" Yedi_# Z[hÂ&#x152; gk[ bW f[dW Z[ ck[hj[ de [hW [d iÂ&#x2021; c_icW _dYedij_jkY_edWb" gk[" feh jWdje bei [ijWZei feZÂ&#x2021;Wd [ijW# Xb[Y[hbWi [d iki b[o[i f[dWb[i" o feh [ijWi hWped[i bWi [`[YkY_ed[i i[ h[WdkZWhed [d [b WÂ&#x2039;e i_]k_[d# j[ o ^Wd Yedj_dkWZe ^WijW dk[i# jhei ZÂ&#x2021;Wi Yed\ehc[ i[Â&#x2039;WbW [b :h$ ;hd[ije 7bX|d =Â&#x152;c[p1 WYbWhWdZe gk[ bei `k[Y[i Z[ bei [ijWZei Z[ Dk[lW Oeha o Z[ C_dd[iejW [d YWcX_e ^Wd Z_YjWc_dWZe gk[ bW f[dW Z[ ck[hj[ i_ [i _dYedij_jk# Y_edWb$ ;d h[ikc[d" cWd_\_[ijW [b jhWjW# Z_ijW Wdj[i c[dY_edWZe" gk[ iebW# c[dj[ fheY[Z[ bW f[dW Z[ ck[hj[ [d Z[b_jei Yed ck[hj[ Z[ bW lÂ&#x2021;Yj_cW e lÂ&#x2021;Yj_cWi" Z[ jWb cWd[hW gk[ de fheY[Z[ [d l_ebWY_Â&#x152;d i_d ck[hj[" d_ i_gk_[hW Z[ d_Â&#x2039;ei" fk[i iÂ&#x152;be [b Wi[i_dWje c[h[Y[ [ijW f[dW feh ik ]hWZe Z[ Z[fhWlWY_Â&#x152;d cehWb" Z[ :FEK@EL8 <E C8 GĂ?>@E8 $ :*
bW i[l[h_ZWZ Z[b ZWÂ&#x2039;e W bWi f[hie# dWi o W bW ieY_[ZWZ1 WYbWhWdZe gk[ jWcfeYe [i WZc_i_Xb[ bW f[dW Z[ ck[hj[" i_ [b Wkjeh ik\h[ Wb]Â&#x2018;d j_fe Z[ h[jWhZe c[djWb e de Ykcfb_Â&#x152; Z_[Y_eY^e WÂ&#x2039;ei Wb cec[dje Z[b Z[b_je1 o j[hc_dW i[Â&#x2039;WbWdZe gk[ ^Wo gk[ [if[hWh gk[ febÂ&#x2021;j_YW jecW bW 9ehj[ Ikfh[cW Z[ bei ;ijWZei Kd_Zei [d [ijW cWj[h_W [d be \kjk# he1 [ije [i" dWZ_[ fk[Z[ Wi[]khWh feh W^ehW i_ ik j[dZ[dY_W \kjkhW i[h| b_X[hWb e Yedi[hlWZehW" h[YWb# YWdZe gk[ Z[ bei dk[l[ cW]_ijhW# Zei gk[ Yed\ehcWd Z_Y^W 7bjW 9ehj[" Zei ied ck`[h[i o kdW Z[ [bbWi bWj_dW" eh_]_dWh_W Z[ Fk[hje H_Ye$ @KH?IFHK:;D9?7 IE8H; ;B :;H;9>E 7 B7 L?:7 BW `kh_ifhkZ[dY_W [ifWÂ&#x2039;ebW
GF;<I BFIE & =<IIP @EK<IE8K@FE8C
G\k\i C% ;lee# Xj J\Zi\kXip f] Bfie&=\iip @ek\ieXk`feXc# X ZfdgXep fi^Xe`q\[ Xe[ \o`j$ k`e^ le[\i k_\ cXnj f] ;\cXnXi\ n`k_j `kj gi`eZ`gXc f]]`Z\j Xk (0'' 8m\el\ f] k_\ JkXij# Jl`k\ )-''# Cfj 8e^\c\j# :Xc`]fie`X 0''-. _\i\`eX]k\i i\]\ii\[ kf Xj k_\ :FDG8EP Yp k_\j\ gi\j\ekj ^iXekj k_`j gfn\i$f]$ Xkkfie\pd n_`Z_ `j YifX[ Xe[ jl]]`Z`\ek `e XZZfi[XeZ\ n`k_ <ZlX[fi`Xe cXn# kf 8E;I<J >8M@I@8 _\i\`eX]k\i i\]\ii\[ kf Xj k_\ 8KKFIE<P$@E$=8:K `e fi[\i kf \o\iZ`j\ k_\ ]fccf$ n`e^ gfn\ij2 (% @e XZZfi[XeZ\ n`k_ Xik`$ Zc\j + Xe[ +(, f] k_\ Zlii\ek <ZlX[fi`Xe CXn f] :fdgXe`\j# k_\ 8KKFIE<P$@E$=8:K Xi\ _\i\Yp Xlk_fi`q\[ kf i\gi\$ j\ek k_\ YiXeZ_ f] k_\ Zfd$ gXep `e <ZlX[fi# k_\i\Yp Y\`e^ \ekiljk\[ n`k_ Xcc k_\ i\hl`i\[ gfn\ij# eXd\cp n`k_ YifX[ gfn\ij kf g\i]fid# n`k_ k_\ gfn\i ]fi Xejn\i`e^ ZcX`d Xe[ ZfdgcX`ekj Xe[ kf Zfdgcp n`k_ k_\ fYc`^Xk`fej ZfekiXZk\[ Yp k_\ :FDG8EP `e <ZlX[fi fi kf Y\ g\i]fid\[ `e k_Xk Zflekip% )% =fi k_\ XYfm\ gligfj\# k_\ 8KKFIE<P$@E$=8:K Xi\ Xlk_fi`q\[ kf XZk `e cXnjlckj# Xj gcX`ek`]] fi [\]\e[Xek# Xe[ k_\i\]fi\ Xi\ `em\jk\[ n`k_ Xcc gi\if^Xk`m\j Xe[ gfn\ij `e_\i\ek kf c\^Xc 8KKFIE<P$ @E$=8:K# `] Xgc`ZXYc\ le[\i k_\ cXn# `eZcl[`e^ kfj\ j\k\ ]fik_ `e Xik`Zc\ ++ f] k_\ <ZlX[fi`Xe :`m`c GifZ\[li\ :f[\# `eZcl$ [`e^# Xdfe^ fk_\i k_`e^j# k_\ Xlk_fi`kp kf ]`c\ Xe[ Xejn\i ZcX`dj# jlYd`k \m`[\eZ\ Xe[ kf fYa\Zk# fggfj\# Xe[ Z_Xcc\e$ ^\ ZcX`dj# al[^d\ekj fi X[al$ [`ZXk`fej# i\]\i kf XiY`kiXk`fe# Xejn\i `ek\iif^Xkfi`\j# [\]\i kf fggfj`e^ gXik`\j fZk# kf i\Z\`m\ fi kXb\ gfjj\jj`fej f] gifg\ikp le[\i c`k`^Xk`fe# i\Z\`m\ gXp$ d\ekj Xe[ ^`m\ i\Z\`gk k_\i\ le[\i% K_`j Xlk_fi`kp dXp Y\ \o\iZ`j\[ Y\]fi\ Xep Zflik# ki`YleXc Xe[ X[d`e`jkiXk`m\ Xlk_fi`kp% *% K_\ 8KKFIE<P$@E$=8:K Xi\ Xlk_fi`q\[ kf kfkXccp fi gXik`Xccp [\c\^Xk\ k_\`i gfn\ij Xe[ gi\$ if^Xk`m\j kf Xep g\ijfe# dX`e$ kX`e`e^ k_\ [\c\^Xk\[ gfn\ij Xe[ Xkki`Ylk`fej lec\jj \ogi\j$ jcp gifm`[\[ fk_\in`j\# fi \m\e kf kfkXccp jlYjk`klk\ k_`j gfn\i f] Xkkfie\p kf Xep fk_\i g\ijfe fi g\ijfej% +% K_\ :FDG8EP ^iXekj kf 8KKFIE<P$@E$=8:K Xcc k_\ gfn\ij e\Z\jjXip ]fi k_\ Zfdgc\k\ ]lc]`ccd\ek _\i\f]# `k Y\`e^ le[\ijkff[ k_Xk `] k_`j gfn\i f] Xkkfie\p [f\j efk dXb\ \ogi\jj d\ek`fej
c[dY_edW be i_]k_[dj[0 IJ9 +)%'/.+" gk[ Z_Y[ Ă&#x2020;;b Z[h[# Y^e W bW l_ZW h[YedeY_Ze o ]WhWd# j_pWZe [d ik ZeXb[ i_]d_\_YWY_Â&#x152;d \Â&#x2021;i_YW o cehWb feh [b 7hj$ '+ Z[ bW 9edij_jkY_Â&#x152;d" [i bW fheo[YY_Â&#x152;d Z[ kd lWbeh ikf[h_eh Z[b ehZ[dWc_[d# je `khÂ&#x2021;Z_Ye fhe\[i_edWb #bW l_ZW ^kcWdW# Yedij_jko[ [b Z[h[Y^e \kdZWc[djWb" [i[dY_Wb o jhedYWb" [d YkWdje [i [b ik`[je edjebÂ&#x152;]_Ye i_d [b gk[ bei h[ijWdj[i Z[h[Y^ei" de fk[Z[d [n_ij_hĂ&#x2021;$ BW l_ZW i[]Â&#x2018;d bW `kh_ifhkZ[dY_W [ifWÂ&#x2039;ebW" [i kd YedY[fje _dZ[j[h# c_dWZe" ieXh[ [b gk[ i[ ^Wd ZWZe h[ifk[ijWi fbkhÂ&#x2021;leYWi de iÂ&#x152;be [d hWpÂ&#x152;d Z[ bWi Z_ij_djWi f[hif[Yj_# lWi ][dÂ&#x192;j_YW" cÂ&#x192;Z_YW" j[ebÂ&#x152;]_YW" [jY$ " i_de jWcX_Â&#x192;d [d l_hjkZ Z[ bei Z_l[hiei Yh_j[h_ei cWdj[d_Zei feh bei [if[Y_Wb_ijWi Z[djhe Z[ YWZW
f] X gfn\ij% K_\i\]fi\# k_\p dXp XZk Xe[ gifZ\\[ Xj k_\ :FDG8EP nflc[ [f `kj\c]% K_\ 8KKFIE<P$@E$=8:K `j X[[`$ k`feXccp ^iXek\[ k_\ YifX[\jk gfn\ij `e fi[\i kf XZZfdgc`j_ k_\ Zfii\Zk ZfdgÂ&#x2C6;cXej\ fe k_`j ^\e\iXc gfn\i$f]$Xkkfie\p% ,% K_\ k\dgfiXip fi [\]`e`k`m\ XYj\eZ\ f] k_\ 8KKFIE<P$ @E$=8:K ]ifd k_\ I\glYc`Z f] <ZlX[fi j_Xcc efk k\id`eXk\ k_\ [\c\^Xk`fej _\i\f] k_Xk `k dXp _Xm\ ^iXek\[% -% 9p m`ikl\ f] k_`j [fZld\ek Xcc gfn\ij$f]$Xkkfie\p gi\m`f$ ljcp ^iXek\[ Yp k_\ :FDG8EP Xi\ _\i\Yp i\mfb\[ Xe[ jlYj$ k`klk\[ Yp k_`j gfn\i$f]$Xkkfi$ e\p# gXik`ZlcXicp k_\ gfn\i f] Xkkfie\p ^iXek\[ fe DXp )0# (00/ Yp k_\ ZfdgXep kf G9G I\gi\j\ekXZ`fe\j :`X% Ck[X%# Xe[ c\^Xc`q\[ Yp :\ii`c A% @e[\Z_# EfkXip GlYc`Z$ :Xc`]fie`X `e k_\ jXd\ [Xk\% K_`j [fZld\ek nXj cXk\i c\^X$ c`q\[ Y\]fi\ k_\ <ZlX[fi`Xe :Â?ejlc `e Cfj 8e^\c\j# [lcp kiXejcXk\[ kf JgXe`j_# Xe[ gifkfZfc`q\[ Y\]fi\ k_\ J\Zfe[ <`^_k_ EfkXip GlYc`Z f] Hl`kf fe Alcp *# (00/# Xe[ Xggifm\[ Yp k_\ Jlg\i`ek\e[\eZp f] :fdgXe`\j k_ifl^_ i\jfclk`fe f] alcp (,# (00/# i\^`jk\i\[ n`k_ k_\ :fd\ij\ I\^`jkip f] Hl`kf fe 8l^ljk (*# (00.% ;Xk\[1 FZkfYi\ ),# )''.% G\k\i C% ;lee >\e\iXc :flej\c Xe[ J\Zi\kXip (0'' 8M<EL< F= K?< JK8IJ# JL@K< )-''# CFJ 8E><C<J# :8C@=FIE@8 0''-. B F I E & = < I I P @EK<IE8K@FE8C CF > F BF I E & = < I I P @EK<IE8K@FE8C G\k\i C% ;lee# Zfdf J\Zi\kXi`f [\ BFIE&=<IIP @EK<IE8K@FE8C# ZfdgXÂ&#x152;Â&#x2C6;X Zfejk`kl`[X p \e ]leZ`feXd`\e$ kf YXaf cXj c\p\j [\ ;\cXnXi\# Zfe f]`Z`eXj gi`eZ`gXc\j \e (0'' 8m\el\ f] k_\ JkXij# Jl`k\ )-''# Cfj 8e^\c\j# :Xc`]fie`X 0''-. [\ XhlÂ&#x2C6; \e X[\cXek\ [\efd`eX[X cX :FDG8z@8 # gfi d\[`f [\c gi\j\ek\ Zfe]`\$ i\ \jk\ gf[\i ^\e\iXc# Xdgc`f p jl]`Z`\ek\ [\ Zfe]fid`[X[ Zfe cX c\p \ZlXkfi`XeX# X 8E;I<J >8M@I@8 [\ X_fiX \e X[\cXek\ [\efd`eX[f D8E;8K8I@F # X ]`e [\ hl\ \a\iqX cXj j`^l`\ek\j gfk\jkX[\j1 (% <e ZfeZfi[XeZ`X Zfe cfj XikÂ&#x2C6;Zlcfj + p +(, [\ cX XZklXc C\p [\ :fdgXeÂ&#x2C6;Xj [\c <ZlX[fi# \c D8E;8K8I@F hl\[X% gfi d\[`f [\c gi\j\ek\# Xlkfi`$ qX[f gXiX i\gi\j\ekXi X cX jlZlijXc [\ cX ZfdgXÂ&#x152;Â&#x2C6;X \e \c <ZlX[fi# j`\e[f [\ \jk\ df[f \eZfd\e[X[f Zfe kf[fj cfj gf[\i\j e\Z\jXi`fj# X jXY\i cXj dXj Xdgc`Xj ]XZlckX[\j gXiX \a\ZlkXi# cX gfk\jkX[ [\
Zfek\jkXi [\dXe[Xj p hl\aXj p [\ Zldgc`i Zfe cXj fYc`^XZ`fe\j ZfekiXÂ&#x2C6;[Xj gfi cX :FDG8z@8 \e \c <ZlX[fi f hl\ jlikXe \]\Zkfj \e \j\ gXÂ&#x2C6;j% )% GXiX \c gifgÂ?j`kf Xek\i`fi% \c D8E;8K8I@F \jk} Xlkfi`qX[f X `ek\im\e`i \e al`Z`f# j\X Zfdf gXik\ XZkfiX f [\dXe[X[X# gXiX cf hl\ hl\[X `em\jk`[f [\ kf[Xj cXj gi\iif^Xk`mXj p ]XZlckX[\j `e_\i\ek\j Xc GifZliX[fi# ZlXe$ [f j\X Xgc`ZXYc\ YXaf cX c\p# j\ `eZclp\e Xhl\ccXj \jkXYc\Z`[Xj \e \c XikÂ&#x2C6;Zlcf ++ [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c \ZlXkfi`X$ ef# `eZclp\e[f# \eki\ fkiXj# cX ZXgXZ`[X[ gXiX gi\j\ekXi p i\j$ gfe[\i hl\aXj# XZklXi gil\YXj p fYa\kXi# fgfe\ij\ \ `dgl^$ eXi i\ZcXdfj# j\ek\eZ`Xj f X[al[`ZXZ`fe\j# Zfdgifd\k\i \c gc\`kf \e }iY`kifj% i\jgfe$ [\i `ek\iif^Xkfi`fj# [\]\i`i \c aliXd\ekf [\Z`jfi`f# i\Z`Y`i cX ZfjX jfYi\ cX ZlXc m\ij\ \c c`k`^`f f kfdXi gfj\j`Â?e [\ \ccX# i\Z`Y`i gX^fj p \eki\^Xi i\Z`Yf [\ \ccfj% <jk\ gf[\i gl\[\ j\i \a\ZlkX[f Xek\ ZlXchl`\i Zfik\# ki`YleXc f Xlkfi`[X[ X[d`e`j$ kiXk`mX% *% <c D8E;8K8I@F hl\[X Xlkfi`qX[f X \eZXi^Xi jlj ]XZlckX[\j p gi\iif^Xk`mXj X ZlXchl`\i g\ijfeX# kfkXc f gXi$ Z`Xcd\ek\# dXek\e`\e[f kXc\j ]XZlckX[\j p Xki`YlZ`fe\j [\c\$ ^X[Xj# X d\efj hl\ j\ \jk`glc\ cf ZfekiXi`f# gl[`\e[f `eZcljf [\c\^Xi kfkXcd\ek\ \jk\ gf[\i ^\e\iXc X ZlXchl`\i fkiX g\ijf$ eX f g\ijfeXj% +% CX :FDG8z@8 fkfi^X Xc D8E;8K8I@F kf[Xj cXj ]XZlckX[\j e\Z\jXi`Xj gXiX \c Zfdgc\kf Zldgc`d`\ekf [\ cXj fYc`^XZ`fe\j [\i`mX[Xj [\c gi\j\ek\# \ek\e[`Â&#x201E;e[fcf XjÂ&#x2C6; ZlXe[f \jk\ gf[\i ^\e\iXc ef _X^X d\eZ`Â?e \ogi\jX [\ Z`\ikX Xki`YlZ`Â?e% Gfi cf kXekf# [\Y\i} XZklXi p gifZ\[\i Zfdf cX d`jdX :FDG8z@8 cf _XiÂ&#x2C6;X% <c D8E;8K8I@F \jk} X[`Z`f$ eXcd\ek\ `em\jk`[f [\ cfj d}j Xdgc`fj gf[\i\j gXiX XcZXeqXi \c Zfii\Zkf Zldgc`d`\ekf [\ \jk\ gf[\i ^\e\iXc% ,% CX Xlj\eZ`X k\dgfiXc f [\]`e`k`mX [\ cX I\gÂ&#x2019;Yc`ZX [\c <ZlX[fi gfi gXik\ [\c D8E;8K8I@F ef k\id`eXi} cX Zfd`j`Â?e hl\ \c gi\j\ek\ c\ _lY`\iX Zfe]\i`[f% -% <e m`ikl[ [\ \jk\ [fZl$ d\ekf# kf[f gf[\i ^\e\iXc fkfi^X[f gi\m`Xd\ek\ gfi cX :FDG8z@8 hl\[X# [\ \jk\ df[f# i\mfZX[f p jljk`kl`[f gfi \c gi\j\ek\ gf[\i# gXik`$ ZlcXid\ek\ \c gf[\i ^\e\iXc fkfi^X[f gfi cX ZfdgXÂ&#x152;Â&#x2C6;X X G9G I\gi\j\ekXZ`fe\j :`X% Ck[X%# \c )0 [\ dXpf [\ (00/# c\^Xc`qX[f gfi :_\ipc A% @e[\Z_# EfkXi`f GÂ&#x2019;Yc`Zf [\ :Xc`]fie`X# \e cX d`jdX ]\Z_X% ;`Z_f [fZl$ d\ekf ]l\ d}j kXi[\ c\^Xc`qX[f
kde Z[ bei fkdjei Z[ l_ijW Yedi_# Z[hWZei" o [d YkoW [lWbkWY_Â&#x152;d o Z_iYki_Â&#x152;d de i[ fk[Z[d WdWb_pWh" f[he i[ h[YedeY[" gk[ [i kd h[Ykh# ie fheY[Z[dj[ i_[cfh[ gk[ i[ be Yedi_Z[h[ W bW l_ZW Yece XWi[ fWhW Z[j[hc_dWh kd Z[h[Y^e$ 7Z[c|i i[Â&#x2039;WbW ieXh[ bW l_ZW ^kcWdW be i_]k_[dj[0 W Gk[ [i kd Z[l[d_h" kd fheY[ie gk[ Yec_[dpW Yed bW ][ijWY_Â&#x152;d [d [b Ykhie Z[ bW YkWb kdW h[Wb_ZWZ X_ebÂ&#x152;# ]_YW lW jecWdZe YehfÂ&#x152;h[W o i[di_# j_lWc[dj[ Yed\_]khWY_Â&#x152;d ^kcWdW" o gk[ j[hc_dW [d bW ck[hj[1 Z[ jWb ceZe gk[ [i kd Yedj_dke iec[j_Ze feh [\[Yjei Z[b j_[cfe W YWcX_ei YkWb_jWj_lei Z[ dWjkhWb[pW iec|j_# YW o fiÂ&#x2021;gk_YW gk[ j_[d[d kd h[\b[`e [d [b [ijWjki `khÂ&#x2021;Z_Ye fÂ&#x2018;Xb_Ye o fh_lWZe Z[b ik`[je l_jWb1 X Gk[ bW ][ijWY_Â&#x152;d ^W ][d[hWZe
kd j[hj_kc [n_ij[dY_Wbc[dj[ Z_i# j_dje Z[ bW cWZh[" Wkdgk[ Wbe`WZe [d [b i[de Z[ Â&#x192;ijW1 o" Y Gk[ Z[djhe Z[ bei YWcX_ei YkWb_jWj_lei [d [b Z[iWhhebbe Z[b fheY[ie l_jWb o fWhj_[dZe Z[b ikfk[ije Z[ gk[ bW l_ZW [i kdW h[Wb_ZWZ Z[iZ[ [b _d_Y_e Z[ bW ][i# jWY_Â&#x152;d" j_[d[ fWhj_YkbWh h[b[lWdY_W [b dWY_c_[dje" oW gk[ i_]d_\_YW [b fWie Z[ bW l_ZW WbX[h]WZW [d [b i[de cWj[hde W bW l_ZW WbX[h]WZW [d bW ieY_[ZWZ" X_[d gk[ Yed Z_ij_djWi [if[Y_\_YWY_ed[i o ceZWb_ZWZ[i W be bWh]e Z[b Ykhie l_jWb1 o fh[l_W# c[dj[ Wb dWY_c_[dje j_[d[ [if[Y_Wb jhWiY[dZ[dY_W [b cec[dje W fWhj_h Z[b YkWb [b dWiY_jkhki [i oW ikiY[f# j_Xb[ Z[ l_ZW _dZ[f[dZ_[dj[ Z[ bW cWZh[" [ije [i" Z[ WZgk_h_h fb[dW _dZ_l_ZkWb_ZWZ ^kcWdW$ ;d fhÂ&#x152;n_cei WhjÂ&#x2021;Ykbei fkXb_YW#
IÂ&#x152;be bei Whj_ijWi o bei d_Â&#x2039;ei l[d bW l_ZW jWb Yece [i$ >K=E LED >E<<C7DDIJ>7B
Xek\ \c :fejlcX[f <ZlXkfi`Xef [\ Cfj 8e^\c\j# [\Y`[Xd\ek\ kiX[lZ`[f Xc \jgXÂ&#x152;fc p gifkfZf$ c`qX[f Xek\ \c M`^Â&#x201E;j`df FZkXmf EfkXi`f GÂ&#x2019;Yc`Zf [\ Hl`kf# \c * [\ alc`f [\ (00/# p XgifYX$ [f gfi cX Jlg\i`ek\e[\eZ`X [\ :fdgXÂ&#x152;Â&#x2C6;Xj X kiXmÂ&#x201E;j [\ I\jfclZ`Â?e [\ (, [\ alc`f [\ (00/# `ejZi`kf \e \c I\^`jkif D\iZXek`c [\ Hl`kf# \c (* [\ 8^fjkf [\ (00.% =\Z_X[f1 ), [\ fZklYi\ [\ )''.% =`idX `c\^`Yc\ G\k\i C% ;leX 8j\jfi >\e\iXc p J\Zi\kXi`f j\ccf j\Zf1 8% Fcj_Xejbp# EfkXi`f GÂ&#x2019;Yc`Zf [\ :Xc`]fie`X 8I&/)0()&ZZ
;@MFI:@FJ ALQ>8;F GI@D<IF ;< CF :@M@C P D<I:8EK@C ;< :?@D9FI8QF%
:@K8:@FE AL;@:@8C 8C ;<D8E;8;F J<zFI ?<:KFI ;8E@<C =I<@I< =I@8J# j\ c\ _XZ\ ZfefZ\i \c Al`Z`f M\iYXc JldXi`f Ef% )%'('$'/.) hl\ j`^l\ cX j\Â&#x152;f$ iX 8Yf^X[X :8ID<E 8D<C@8 DFEK<J 8E@C<D8# Zfdf Xgf$ [\iX[X \jg\Z`Xc p gifZliX[fiX al[`Z`Xc [\ cX j\Â&#x152;fiX CL:@C8 FK@C@8 :8II8EQ8 =I<@I< <OKI8:KF 8:KFI1 J\Â&#x152;fiX 8Yf^X[X :8ID<E 8D<C@8 DFEK<J 8E@C<D8# Zfdf Xgf[\iX$ [X \jg\Z`Xc p gifZliX[fiX al[`Z`Xc [\ cX j\Â&#x152;fiX CL:@C8 FK@C@8 :8II8EQ8 =I<@I<% ;<D8E;8;F1 ?<:KFI ;8E@<C =I<@I< =I@8J :C8J< ;< AL@:@F% ;@MFI:@F KI8D@K<% M<I98C JLD8I@F :L8EK@81 @E;<K<ID@E8;8 AL<Q GI@D<IF :@M@C% 8Y% ?l^f M`Z\ek\ 9i`kf 9i`kf :8J@CC<IF AL;@:@8C 8:KFI% Ef% /0 ;iX% :8ID<E 8D<C@8 DFEK<J GIFM@;<E:@81 ALQ>8;F GI@D<IF ;< CF :@M@C P D<I:8EK@C%$ I`fYXdYX# cle\j (. [\ \e\if [\c )'((# cXj ((_''%$ M`jkfj1 CX [\dXe[X gi\j\ekX[X gfi cX j\Â&#x152;fiX 8Yf^X[X :8ID<E 8D<C@8 DFEK<J 8E@C<D8# Zfdf Xgf[\iX[X \jg\Z`Xc p gifZliX[fiX al[`Z`Xc [\ cX j\Â&#x152;f$ iX CL:@C8 FK@C@8 :8II8EQ8 =I<@I<# \j ZcXiX# gi\Z`jX# Zfdgc\kX# gfi ZlXekf i\Â&#x2019;e\
cfj i\hl`j`kfj [\ c\p# \e kXc m`i$ kl[# j\ cX X[d`k\ Xc ki}d`k\ [\c al`Z`f m\iYXc jldXi`f%$ :Â&#x2C6;k\j\ Xc [\dXe[X[f j\Â&#x152;fi ?<:KFI ;8E@<C =I<@I< =I@8J# gfi cX gi\ejX# d\[`Xek\ ki\j glYc`$ ZXZ`fe\j hl\ j\ _Xi}e ZX[X leX [\ \ccXj \e [`jk`ekX ]\Z_X# \e lef [\ cfj g\i`Â?[`Zfj hl\ j\ \[`kXe p [\ Xdgc`Xj Z`iZl$ cXZ`fe\j \e cXj Z`l[X[\j [\ I`fYXdYX p Hl`kf# i\jg\Zk`mX$ d\ek\# d\[`Xe[f \c kÂ&#x201E;id`ef [\ fZ_f [Â&#x2C6;Xj gfi cf d\efj \eki\ cX leX p cX fkiX# \e m`ikl[ [\c aliXd\ekf Zfej`^eX[f \e cX [\dXe[X gfi \c XZkfi# [fe[\ ZfejkX jl X]`idXZ`Â?e hl\ \j `dgfj`Yc\ [\k\id`eXi p \jkX$ Yc\Z\i jfYi\ cX i\j`[\eZ`X XZklXc [\ Xhl\ccX$ <c Z`kX[f [\ ef ZfdgXi\Z\i X al`Z`f )' [Â&#x2C6;Xj [\jglÂ&#x201E;j [\ cX Â&#x2019;ck`dX glYc`$ ZXZ`Â?e# gf[i} j\i [\ZcXiX[f f Zfej`[\iX[f i\Y\c[\%$ KÂ?d\j\ \e Zl\ekX cX ZlXekÂ&#x2C6;X# \c ZXj`cc\$ if al[`Z`Xc j\Â&#x152;XcX[f gfi cX XZkf$ iX# hl\ Zfii\jgfe[\ Xc j`^eX[f Zfe \c eÂ&#x2019;d\if /0 p X^iÂ&#x201E;^l\j\ X cfj Xlkfj cX [fZld\ekXZ`Â?e XZfdgXÂ&#x152;X[X%$ Efk`]Â&#x2C6;hl\j\%$ ] 8Y% ?l^f M`Z\ek\ 9i`kf 9i`kf# Al\q Gi`d\if [\ cf :`m`c p D\iZXek`c [\ I`fYXdYX%$ Cf hl\ _X^f jXY\i X ljk\[ X ]`e [\ hl\ ZfdgXi\qZX X al`$ Z`f p j\Â&#x152;Xc\ ZXj`cc\if al[`Z`Xc gXiX i\Z`Y`i efk`]`ZXZ`fe\j# \e ZXjf [\ ef _XZ\icf [\jglÂ&#x201E;j [\ m\`ek\ [Â&#x2C6;Xj [\ cX Â&#x2019;ck`dX glYc`$ ZXZ`Â?e# gf[i} j\i [\ZcXiX[f f Zfej`[\iX[f i\Y\c[\% Ji% >l`cc\idf :Xdgfj J<:I<K8I@F <o`jk\ ]`idX p j\ccf% 8%G%&+0(+.&b%d% I<Gè9C@:8 ;<C <:L8;FI ALQ>8;F ;y:@DF ;< CF :@M@C ;< G@:?@E:?8
<OKI8:KF AL;@:@8C :@K8:@äE AL;@:@8C 81 :<J8I 8IKLIF :8AF M8I>8J 8:KFI1 =8K@D8 >8CL; J8C;8II@8>8 >8I:Ă 8 ; < D 8 E ;8 ; F 1 : < J8 I 8IKLIF :8AF M8I>8J AL@:@F ;< ;@MFI:@F Ef% '*0/ Ă&#x2020; )'((Ă&#x2020; <>% KIĂ?D@K<1 M<I98C JLD8I@F% :L8EKĂ 81 `e[\k\id`eX[X% =LE;8D<EKF C<>8C1 8ik% ((' ZXljXc feZ\XmX [\c :Â?[`^f :`m`c% 89F>8;F ;<=<EJFI1 ;i% IfY\ikf JXe[fmXc :\mXccfj% ALQ>8;F ;y:@DF ;< CF
:@M@C ;< G@:?@E:?8%$ Hl`kf# cle\j (( [\ XYi`c [\c )'(( # cXj ()_*,%$ M@JKFJ%$ <e m`ikl[ [\c jfik\f [\ c\p Zfii\jgfe[`\e$ k\# XmfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ ZXljX \e ZXc`[X[ [\ Al\q k`klcXi%$ CX [\dXe[X hl\ Xek\Z\[\ \j ZcXiX p i\Â&#x2019;e\ cfj i\hl`j`kfj [\ C\p# gfi cf hl\ [\ZcXi}e[fj\cX gifZ\[\ek\ j\ cX XZ\gkX Xc ki}d`k\ m\iYXc jldXi`f%$ <e dÂ&#x201E;i`kf Xc aliXd\e$ kf hl\ k`\e\ i\e[`[f cX j\Â&#x152;fiX =}k`dX >Xcl[ JXc[Xii`X^X >XiZÂ&#x2C6;X p [\ Zfe]fid`[X[ Zfe \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# j\ fi[\eX hl\ j\ Z`k\ Xc [\dXe[X[f j\Â&#x152;fi :Â&#x201E;jXi 8iklif :Xaf MXi^Xj# gXiX cfj ]`e\j c\^Xc\j g\ik`e\ek\j# d\[`Xek\ ki\j glYc`ZXZ`fe\j gfi cX gi\ejX \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcXZ`Â?e [\ \jkX Z`l[X[ [\ Hl`kf# XjÂ&#x2C6; Zfdf \e \c cl^Xi [\c dXki`dfe`f p [Â&#x201E; Zfe]fid`[X[ Zfe cf [`jgl\jkf \e \c 8ik% ((0 [\c :Â?[`^f :`m`c%$ 8c \]\Zkf i\dÂ&#x2C6;kXj\ \c \okiXZkf Zfii\jgfe[`\ek\% 8^iÂ&#x201E;^l\j\ X cfj Xlkfj cfj [fZld\ekfj hl\ XZfdgXÂ&#x152;X X cX [\dXe[X%$ KÂ&#x201E;e^Xj\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc# j\Â&#x152;XcX[f gXiX gfjk\$ i`fi\j efk`]`ZXZ`fe\j# XjÂ&#x2C6; Zfdf cX Xlkfi`qXZ`Â?e Zfe]\i`[X X jl 8Yf^X[f ;\]\ejfi%$ :Â&#x2C6;k\j\ p Efk`]Â&#x2C6;hl\j\%$ = ;I% AFJy D8IKĂ E<Q E8I8EAF% AL<Q Cf hl\ c\ Zfdle`Zf X ljk\[ p c\ Z`kf gXiX cfj ]`e\j [\ c\p g\ik`e\ek\j# gi\m`e`Â&#x201E;e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ \e j\Â&#x152;XcXi ZXj`cc\if al[`Z`Xc gXiX jlj ]lkliXj efk`]`ZXZ`fe\j%$ :\ik`]`Zf%$ ;i% <[^Xi ?Xif MXc\eql\cX% J<:I<K8I@F ;<C ALQ>8;F ;y:@DF ;< CF :@M@C ;< G@:?@E:?8 ?Xp le j\ccf 8I&/)0'*&ZZ I<GL9C@:8 ;<C <:L8;FI ALQ>8;F J<OKF ;< CF :@M@C ;< G@:?@E:?8
:@K8:@FE AL;@:@8C :Â&#x2C6;k\j\ Zfe \c j`^l`\ek\ \okiXZ$ kf [\ cX [\dXe[X [\ ;`mfiZ`f X 8C<O8E;<I A8M@<I HL@C8:?8D@E J?8G8E# Zlpf k\efi \j \c j`^l`\ek\1 8:KFI81 @;8E@8 >8II@;F ;< C8 :ILQ ;<D8E;8;F1 8C<O8E;<I A8M @ < I H L @ C 8: ? 8 D @ E J?8G8E :C8J< ;< AL@:@F1 ;@MFI:@F Ef% (*'0$)'(' :L8EK@81 @E;<K<ID@E8;8 F9A<KF1 ;`jfcm\i \c mÂ&#x2C6;eZlcf dXki`dfe`Xc GIFM@;<E:@8 ALQ>8;F J<OKF ;< CF :@M@C ;< G@:?@E:?8% Hl`kf# '+ [\ XYi`c cXj (*?,*%$M`jkfj%$ cX [\dXe[X [\ [`mfiZ`f hl\ gi\j\ekX @[Xe`X >Xii`[f [\ cX :ilq \e ZfekiX [\ 8c\oXe[\i AXm`\i Hl`cXZ_Xd`e J_XgXe
Ĺ? Ä Ä&#x2021;Ĺ? Ĺ? Ĺ? Ĺ?Ä&#x201A;Ä&#x20AC;Ä Ä
Ĺ? +. Ĺ? Ä&#x152;Ĺ?
Ä&#x192;
hÂ&#x192; ieXh[ [b Z[h[Y^e Yedij_jkY_edWb W kdW l_ZW Z_]dW1 _]kWbc[dj[ ÂľI_ [n_ij[ e de [b Z[h[Y^e Yedij_jk# Y_edWb W kdW ck[hj[ Z_]dW51 o" [b j[ijWc[dje l_jWb1 WZ[c|i ieXh[ [b ik_Y_Z_e o ik _cfehjWdY_W [iejÂ&#x192;# h_YW o b[]Wb" W hWÂ&#x2021;p Z[ gk[ bW fh[d# iW dWY_edWb ^W ZWZe W YedeY[h [d \ehcW h[_j[hWZW [d [ijei Â&#x2018;bj_cei ZÂ&#x2021;Wi lWh_ei ik_Y_Z_ei WYW[Y_Zei [d [b fWÂ&#x2021;i" [if[Y_Wbc[dj[ [d c_ fhe# l_dY_W Z[ 9^_cXehWpe$ 1Ä&#x201C;ĹŠ .2_ĹŠ 1!~ ĹŠ +!.-~ Ä&#x201D;ĹŠ ĹŠ ĹŠ ĹŠ ĹŠ ĹŠ
i\Â&#x2019;e\ cfj i\hl`j`kfj c\^Xc\j \e Zfej\Zl\eZ`X j\ cX XZ\gkX \c ki}d`k\ Zfii\jgfe[`\ek\ gfi cX mÂ&#x2C6;X m\iYXc jldXi`X% 8k\ekX cX Xj\m\iXZ`Â?e aliXd\ekX[X [\ cX [\dXe[Xek\ i\jg\Zkf X cX `dgfj`Y`c`[X[ [\ [Xi Zfe \c [fd`Z`c`f [\c [\dXe[X[f ZÂ&#x2C6;k\j\ Zfe le \okiXZkf [\ cX [\dXe[X p \jkX gifm`[\eZ`X X 8c\oXe[\i AXm`\i Hl`cXZ_Xd`e J_XgXe gfi cX gi\ejX \e lef [\ cfj g\i`Â?[`Zfj [\ dXpfi Z`iZlcXZ`Â?e hl\ j\ \[`kXe \e \jkX Z`l[X[ Zfe `ek\imXcfj [\ gfi cf d\efj fZ_f [Â&#x2C6;Xj _}Y`c\j \e leX p fkiX Z`kXZ`Â?e# X^iÂ&#x201E;^l\$ j\ Xc gifZ\jf cfj [fZld\ekfj gi\j\ekX[fj p efk`]Â&#x2C6;hl\j\ X cX [\dXe[Xek\ \e cX ZXj`ccX al[`$ Z`Xc Ef# +,(. % :Â&#x2019;dgcXj\% = ;i% DXi`f Fik`q <jki\ccX% Al\q% Cf hl\ Zfdle`Zf p c\ Z`kf X ljk\[ gXiX cfj ]`e\j c\^Xc\j Zfii\jgfe[`\ek\j# gi\m`e`Â&#x201E;e$ [fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi [fd`Z`c`f al[`Z`Xc gXiX gfjk\i`fi\j efk`]`ZXZ`fe\j \e \jkX Al[`ZXkliX% ;I% <;N@E :<M8CCFJ J<:I<K8I@F ?Xp le j\ccf 8%:%&.0*0( ALQ>8;F :L8IKF ;< CF :@M@C ;< G@:?@E:?8
:@K8:@äE AL;@:@8C 81 @E<J ALC@<K8 98CC8;8I<J >L@C:8JF :FE C8 J@>L@<EK< ;<D8E;8 ;< ;@MFI:@F 8C K<EFI J@>L@<EK<1 <okiXZkf 8:KFI1 E<CJFE D8LI@:@F :8E;F P8E<Q ;<D8E;8;F1 @E<J ALC@<K8 98CC8;8I<J >L@C:8JF F9A<KF1 8dgXiX[f \e cX ZXljXc k\iZ\iX [\c 8ik% ((' [\c :Â?[`^f :`m`c# [\dXe[X \c [`mfi$ Z`f X ]`e [\ hl\ \e j\ek\eZ`X j\ [\ZcXi\ [`jl\ckf \c mÂ&#x2C6;eZl$ cf dXki`dfe`Xc hl\ le\ X cfj ZÂ?epl^\j% KI8D@K<1 M\iYXc JldXi`f :L8EK@81 @E;<K<ID@E8;8 =<:?8 ;< @E@:@8:@FE ;<C AL@:@F1 '* [\ dXiqf [\c )'((% ELD<IF ;< :8LJ81 )/.$ )'(($99 ;FD@:@C@F C<>8C%$ :Xj`ccX Al[`Z`Xc Ef% -,' ;i% ?\ieXe :Xdgfm\i[\ Gifm`[\eZ`X ALQ>8;F :L8IKF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# d`Â&#x201E;iZfc\j )* [\ dXiqf [\c )'((# cXj (+_))%$ M@JKFJ%$ CX Zfdg\k\eZ`X [\ \jkX ZXljX j\ _X iX[`ZX[f \e \jkX al[`ZXkliX \e m`ikl[ [\c jfik\f i\Xc`qX[f# gfi cf kXekf XmfZf ZfefZ`d`\e$ kf [\ cX gi\j\ek\ ZXljX# \e d` ZXc`[X[ [\ Al\q <eZXi^X[f [\ \jkX Al[`ZXkliX# d\[`Xek\ 8ZZ`Â?e [\ G\ijfeXc Ef% -'+ $ ;G$;GG$ [\ )) dXiqf [\c )'((% <e cf gi`eZ`gXc cX [\dXe[X hl\ Xek\Z\[\ \j ZcXiX# gi\Z`jX p i\Â&#x2019;e\ cfj i\hl`j`kfj [\ C\p#
gfi cf hl\ j\ c\ [X \c ki}d`k\ M\iYXc JldXi`f% 8k\ekf \c aliX$ d\ekf i\e[`[f gfi \c XZkfi p Zfe]fid\ cf [`jgfe\ \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# ZÂ&#x2C6;k\j\ X cX [\dXe[X[X @E<J ALC@<K8 98CC8;8I<J >L@C:8JF# gfi d\[`f [\ cX gi\ejX# \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcXZ`Â?e eXZ`feXc hl\ j\ \[`kXe \e \jkX Z`l[X[ [\ Hl`kf%$ EFK@=@HL<J<%$ ;I% N@CD<I 8D9IFJJ@ IF9C<J% AL<Q <E:8I>8;F Cf hl\ gfe^f \e jl ZfefZ`$ d`\ekf gXiX cfj ]`e\j [\ C\p# X[m`ik`Â&#x201E;e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi ZXj`ccX al[`Z`Xc [\c GXcXZ`f [\ Aljk`Z`X [\ \jkX Z`l[X[ [\ Hl`kf# gXiX i\Z`Y`i ]lkliXj efk`]`ZXZ`fe\j% 8Y% A\eep 9\cki}e I`m\iX J<:I<K8I@8 < ?Xp ]`idX p j\ccf 8:&.0(*-&k] I%<% ALQ>8;F ;<:@DF J<>LE;F ;< CF :@M@C ;< G@:?@E:?8
:@K8:@äE AL;@:@8C 81 JI% J8EKFJ HL<IL9@E D8IK@E<Q >LQD8E AL@:@F1 ;@MFI:@F EIF% )/($ )'(($ JG 8:KFI8 JI8% =8EEP D8I>FK? M8CC<AF ;<D8E;8;81 JI% J8EKFJ H L < IL 9 @ E D 8 IK @ E < Q >LQD8E :L8EK@8 @E;<K<ID@E8;8 KI8D@K< M<I98C JLD8I@F @E@:@8;F ', ;< 89I@C ;<C )'(( F9A<KF% ;@JFCL:@FE ;<C M@E:LCF :FEPL>8C @E:@JF );F# :8LJ8C ((M8% 8IK% ((' ;<C :F;@>F :@M@C G I F M @ ; < E : @ 8 ALQ>8;F ;<:@DF J<>LE;F ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# dXik\j , [\ XYi`c [\c )'((# cXj ('_)*%$ M@JKFJ%$ <e d` ZXc`[X[ [\ Al\q K`klcXi [\ cX Al[`ZXkliX p \e iXqÂ?e [\ cX efkX [\ jfik\f hl\ Xek\Z\[\# XmfZf ZfefZ`d`\ekf [\ cX gi\$ j\ek\ ZXljX% LeX m\q hl\ cX XZkfiX _X [X[f Zldgc`d`\ekf X cf [`jgl\jkf \e gifm`[\eZ`X Xek\i`fi cX [\dXe[X [\ [`mfi$ Z`f gi\j\ekX[X gfi cX JI8% =8EEP D8I>FK? M8CC<AF# \j ZcXiX# gi\Z`jX p Zfdgc\kX gfi i\le`i cfj i\hl`j`kfj [\ C\p# \e Zfej\Zl\eZ`X j\ XZ\gkX X ki}d`k\ m\iYXc jldXi`f% :Â&#x2C6;k\j\ Xc [\dXe[X[f j\Â&#x152;fi J8EKFJ H L < IL 9 @ E D 8 IK @ E < Q >LQD8E# gfi d\[`f [\ cX gi\ejX [\ dXpfi Z`iZlcXZ`Â?e eXZ`feXc hl\ j\ \[`kXe \e \jkX Z`l[X[ [\ Hl`kf# :XekÂ?e Hl`kf# Gifm`eZ`X [\ G`Z_`eZ_X p G`cXcÂ? Gifm`eZ`X [\ :fkfgXo`# gXiX \jk\ \]\Zkf gfi J\Zi\kXiÂ&#x2C6;X Zfe]`Â&#x201E;iXj\ \c g\ik`e\ek\ \okiXZ$ kf% 8^iÂ&#x201E;^l\ej\ Xc gifZ\jf cfj [fZld\ekfj X[alekfj% KÂ&#x201E;e^Xj\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc
Ĺ? Ĺ?
Ĺ?
Ĺ? Ĺ?
Ĺ?
Ä&#x2026;
Ĺ? Ä Ä&#x2021;Ĺ? Ĺ? Ĺ? Ĺ?Ä&#x201A;Ä&#x20AC;Ä Ä
Ĺ? +. Ĺ? Ä&#x152;Ĺ?
j\Â&#x152;XcX[f p cX Xlkfi`qXZ`Â?e hl\ Zfe]`\i\ X jl XYf^X[f [\]\ejfi%$ EFK@=@HL<J<%$ = %$ ;I% :8ICFJ =<IE8E;<Q @;IFMF%$ AL<Q ;<:@DF J<>LE;F ;< CF :@M@C ;< G@:?@E:?8% Cf hl\ cc\mf X jl ZfefZ`d`\ekf gXiX cfj ]`e\j [\ C\p# gi\m`e`Â&#x201E;e$ [fc\j [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi ZXj`cc\if al[`Z`Xc gXiX jlj gfjk\i`fi\j efk`]`ZX$ Z`fe\j%$ Hl`kf# (* ;< 89I@C ;<C )'((%$ :\ik`]`Zf%$ ;I% =<IE8E;F E8I8EAF =8:KFJ% J<:I<K8I@F ;<C ALQ>8;F ;<:@DF J<>LE;F ;< CF :@M@C ;< G@:?@E:?8% ?Xp ]`idX p j\ccf 8:&.0+'(&k] I<GL9C@:8 ;<C <:L8;FI ALQ>8;F ;<:@DF K<I:<IF ;< CF :@M@C ;< G@:?@E:?8
:@K8:@FE AL;@:@8C 8C J<zFI1 J8EK@8>F =89I@:@F 8CK8D@I8EF CFG<Q <OKI8:KF AL;@:@8C AL@:@F1 ;@MFI:@F Ef% )'('$ (.*.$M>D 8:KFI1 B8I@E8 JFC<;8; G8II8C<J Q8D9I8EF ;<D8E;8;F1 E<JKFI 8C=I<;F IF E H L @ C CF >FD<Q KI8D@K<1 M<I98C JLD8I@F :L8EK@81 @E;<K<ID@E8;8 F9A<KF1 F9K<E<I C8 ;@JFCL:@äE ;<C M@E:LCF D8KI@DFE@8C HL< C<J LE<# :FE=FID< CF ;@JGFE<% <C @E:@JF J<>LE;F ;< C8 :8LJ8C ;<:@DF GI@D<I8# 8IK% ((' ;<C :F;@>F :@M@C M@><EK<%$ ALQ>8;F ;<:@DF K<I:<IF ;< CF :@M@C ;< G@:?@E:?8# Hl`kf# cle\j )/ [\ ]\Yi\if [\c )'((# cXj ('?+/%$ M@JKFJ1%$ Gfi Zldgc`[f Zfe \c i\hl\$ i`d`\ekf hl\ Xek\Z\[\% $ CX [\dXe[X gifgl\jkX gfi B8I@E8 JFC<;8; G8II8C<J Q8D9I8EF# \j ZcXiX# gi\Z`jX p i\Â&#x2019;e\ cfj i\hl`j`kfj \o`^`[fj gfi cX C\p# gfi cf hl\ [\ZcXi}e$ [fj\cX gifZ\[\ek\ j\ cX X[d`k\ Xc ki}d`k\ M\iYXc JldXi`f%$ <e dÂ&#x201E;i`kf [\c aliXd\ekf i\e[`[f gfi cX XZkfiX p Zfe]fid\ cf [`jgfe\ \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# :@K<J< Xc j\Â&#x152;fi E<JKFI 8C=I<;F IFEHL@CCF >FD<Q# gfi cX gi\jX# \e lef [\ cfj g\i`Â?[`$ Zfj [\ dXpfi Z`iZlcXZ`Â?e [\ \jkX Z`l[X[ [\ Hl`kf# gXiX cf ZlXc j\ \eki\^Xi} \c i\jg\Zk`mf \okiXZkf%$ 8^iÂ&#x201E;^l\j\ Xc gif$ Z\jf cfj [fZld\ekfj X[ale$ kfj%$ KÂ&#x201E;e^Xj\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc j\Â&#x152;XcX[f p cX ]XZlckX[ ZfeZ\[`[X X jl [\]\e$ jfiX%$ EFK@=Ă HL<J<%$ ] % ;i% IlYÂ&#x201E;e :\mXccfj =XYXiX%$ Al\q Jlgc\ek\%$ ALQ>8;F ;<:@DF K<I:<IF ;< CF :@M@C ;< G@:?@E:?8# Hl`kf# d`Â&#x201E;iZfc\j ) [\ dXiqf [\c )'((# cXj ('_+(%$ ;\ Zfe$ ]fid`[X[ Zfe cf [`jgl\jkf \e \c 8ik% )0' [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# j\ Xdgc`X \c Xlkf hl\ Xek\Z\[\%$ Gfi Zldgc`[f Zfe \c i\hl\i`d`\e$ kf hl\ Xek\Z\[\# \e dÂ&#x201E;i`kf [\c aliXd\ekf i\e[`[f gfi cX XZkfiX p Zfe]fid\ cf [`jgf$ e\ \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# :@K<J< Xc j\Â&#x152;fi E<JKFI 8C=I<;F IFEHL@CCF >FD<Q# gfi cX gi\jX# \e lef [\ cfj g\i`Â?[`Zfj [\ dXpfi Z`iZlcXZ`Â?e [\ \jkX Z`l[X[ [\ Hl`kf p Gfikfm`\af# Zfe]fid\ cf [`jgfe\ \c `eZ`jf j\^le[f [\c 8ik% ((0 [\c :Â?[`^f :`m`c# gXiX cf ZlXc j\ \eki\^X$ i} cfj i\jg\Zk`mfj \okiXZ$ kfj%$ EFK@=Ă HL<J<%$ ]%$ ;i% IlYÂ&#x201E;e :\mXccfj =XYXiX%$ Al\q Jlgc\ek\%$ Cf hl\ Zfdle`Zf gXiX cfj ]`e\j [\ c\p# gi\m`e`Â&#x201E;e[fc\ [\ cX fYc`$ ^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi ZXj`cc\if al[`Z`Xc gXiX ]lkliXj
efk`]`ZXZ`fe\j%$ :\ik`]`Zf%$ ; I% E @ CF > F E Q8 CF 8CD8:?@ J<:I<K8I@F ;<C ALQ>8;F ;<:@DF K<I:<IF ;< CF :@M@C ;< G@:?@E:?8 ?Xp ]`idX p j\ccf 8:&.0*.*&k] I% ;<C <% ALQ>8;F ;<:@DF J<GK@DF ;< CF :@M@C ;< G@:?@E:?8
:@K8:@äE AL;@:@8C 8c j\Â&#x152;fi G8K I @ : @ F N8J?@E>KFE HL@zFE<Q IF;IĂ >L<Q# j\ c\ _XZ\ jXY\i hl\ \e \jkX Al[`ZXkliX j\ _X gifgl\jkf al`Z`f [\ ;`mfiZ`f \e jl ZfekiX \e cfj j`^l`\ek\j kÂ&#x201E;id`efj1 8:KFI81 Fc`m`X <[`k_ :\imXek\j 8cYXe ;<D8E;8;F1 G8KI@:@F N8J?@E>KFE HL@zäE<Q IF;IĂ >L<Q AL@:@F1 ;`mfiZ`f Eif% )+*$ )'(($A%A% ZXljXc ((X% @eZ`jf )f% ;\c 8ik% ((' [\c :Â?[`^f :`m`c% :L8EK@81 @E;<K<ID@E8;8 KI8D@K<1 M<I98C JLD8I@F 89F>8;F ;<=<EJFI1 ;fZkfi D`ckfe IXd`if 9fe`ccX GIFM@;<E:@81 ALQ>8;F ;<:@DF J<GK@DF ;< CF :@M@C ;< G@:?@E:?8%$ JXe^fchlÂ&#x2C6;# X (' [\ DXiqf [\c )'((# cXj ('_*'%$ M@JKFJ1 CX [\dXe[X hl\ Xek\Z\[\ \j ZcXiX# gi\Z`jX# Zfdgc\kX p i\Â&#x2019;e\ cfj [\d}j i\hl`j`kfj [\ C\p# gfi cf hl\ j\ cX XZ\gkX Xc ki}d`k\ i\jg\Zk`mf# \e al`$ Z`f M\iYXc JldXi`f% <e fi[\e Xc efdYiXd`\ekf [\ :liX[fi 8[$c`k\d# Â?`^Xj\ X lef [\ cfj j\Â&#x152;fi\j 8^\ek\j =`jZXc\j% 8k\ekf Xc aliXd\ekf i\e[`[f gfi cX gXik\ XZkfiX# ZÂ&#x2C6;k\j\ Xc [\dXe[X[f j\Â&#x152;fi G8KI@:@F N8J?@E>KFE HL@zäE<Q IF;IĂ >L<Q# [\ Zfe]fid`[X[ Zfe cf hl\ [`jgfe\ \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcXZ`Â?e \e cX Z`l[X[ [\ Hl`kf# ZXekÂ?e Hl`kf# gifm`e$ Z`X [\ G`Z_`eZ_X% 8^iÂ&#x201E;^l\j\ cfj [fZld\ekfj gi\j\ekX[fj% KÂ&#x201E;e^Xj\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc Eif% (+* p cX Xlkfi`qX$ Z`Â?e Zfe]\i`[X Xc ;fZkfi D`ckfe IXd`if 9fe`ccX% EFK@=@HL<J<%$ =[f ;i% Cl`j <[lXi[f KX`g\ >% AL<Q <E:8I>8;F Cf hl\ Zfdle`Zf X ljk\[ gXiX cfj ]`e\j [\ C\p# gi\m`e`\e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi ZXj`cc\if al[`Z`Xc \e \jkX Z`l[X[ [\ J8E>FCHLĂ # gXiX jlj gfjk\i`fi\j efk`]`ZX$ Z`fe\j% :\ik`]`Zf% ;i% =\ieXe[f >iXeaX CXeXj J<:I<K8I@F ALQ>8;F (.df% ;< CF :@M@C ;< G@:?@E:?8 ?Xp ]`idX p j\ccf 8:&.0+()&k] I<GL9C@:8 ;<C <:L8;FI ALQ>8;F GI@D<IF ;< CF :@M@C ;< G@:?@E:?8
<: @ K8: @ ä E A L ; @ : @ 8 C 8 ><ID8E 8Ià JK@;<J <JG@EFJ8 :89I<I8 <OKI8:KF 8:KFI81 ;I8% 9C8E:8 IFJ8 :8JK@CCF M<C8J:F# GIF:LI8;FI8 AL;@:@8C ;< >C8;PJ JLJ8E8 :8;<E8 :8II@CCF ;<D8E;8;F1 ><ID�E 8 I à JK @ ; <J <J G @ E FJ8 :89I<I8 AL@:@F ;< ;@MFI:@F Ef% +-,$ )'(($ D% >fi[�e :% :FE =LE;8D<EKF <E <C 8IK% (('# :8LJ8C FE:<8M8# @E:@JF J<>LE;F ;<C :F;@>F :@M@C :L8EK@81 @E;<K<ID@E8;8% ;<=<EJFI1 ;I8% IFJ8 :8JK@CCF :8J@CC8 AL;@:@8C Ef )))* =<:?8 ;< @E@:@F1 () ;< 89I@C ;<C )'(( GIFM@;<E:@81 ALQ>8;F GI@D<IF ;< CF
Ĺ?
:@M@C ;< G@:?@E:?8% Hl`kf# cle\j ), [\ XYi`c [\c )'((# cXj ('_*-%$ M@JKFJ1 CX [\dXe$ [X [\ [`mfiZ`f hl\ Xek\Z\[\ \j ZcXiX# gi\Z`jX p i\Â&#x2019;e\ cfj [\d}j i\hl`j`kfj c\^Xc\j# \e Zfej\Zl\eZ`X j\ cX X[d`k\ X ki}d`k\ m\iYXc jldXi`f%$ 8k\ekf \c aliXd\ekf \]\ZklX[f gfi cX 8ZkfiX# :Ă K<J< X ><IDĂ?E 8 I @ JK @ ; <J <J G @ E FJ8 :89I<I8 gfi cX gi\ejX Zfdf [`jgfe\ \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# d\[`Xek\ glYc`ZXZ`fe\j \]\ZklX[Xj \e le g\i`Â?[`Zf [\ dXpfi Z`iZlcXZ`Â?e eXZ`feXc%$ EFK@=Ă HL<J<% ;I% 8C=I<;F >I@A8CM8 DLzFQ AL<Q Cf hl\ gfe^f \e ZfefZ`d`\e$ kf Xc gÂ&#x2019;Yc`Zf \e ^\e\iXc# gXiX cfj ]`e\j c\^Xc\j Zfii\jgfe$ [`\ek\j% ;i% GXYcf Kfif :Xii`ccf J\Zi\kXi`f ?Xp le j\ccf 8%:%&.0*+/ ALQ>8;F M@><J@DF K<I:<IF ;< CF :@M@C ;< G@:?@E:?8
:@K8:@äE AL;@:@8C 8 cX j\Â&#x152;fiX <ED8 JFC<;8; @C>L8E :ILQ j\ c\ _XZ\ ZfefZ\i <C <OKI8:KF ;< ;<D8E;8 ;< ;@MFI:@F p cX GIFM@;<E:@8# hl\ X Zfek`$ elXZ`Â?e j`^l\1 <OKI8:KF 8Zkfi1 M@:KFI D8EL<C HL@J?G< G<I<Q ;\dXe[X[X1 <ED8 JFC<;8; @C>L8E :ILQ 8jlekf1 Hl\ gi\m`f \c ki}d`$ k\ g\ik`e\ek\# \e j\ek\eZ`X j\ j`imX [\ZcXiXi \c [`mfiZ`f p [`jl\ckf \c mÂ&#x2C6;eZlcf dXki`dfe`Xc hl\ d\ le\ Xc [\dXe[X[f \e dXki`dfe`f Z\c\YiX[X \e Hl`kf# )' [\ [`Z`\dYi\ [\ (0/+% :lXek`X1 @e[\k\id`eX[X Ki}d`k\1 M\iYXc JldXi`f =\Z_X [\ @e`Z`XZ`Â?e1 (. [\ dXpf [\c )'('% :XljX [\ ;`mfiZ`f Ef% -,.$)'(' ;I8% B8C@EB8 A8I8D@CCF% ALQ>8;F M@><J@DF K<I:<IF
IÂ&#x152;be Wgk[bbe gk[ i[ ^W _Ze [i be gk[ dei f[hj[d[Y[$ @EH=; BK?I 8EH=;I
;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# cle\j . [\ ale`f [\c )'('# cXj ((_(.%$M@JKFJ%$ CX Zfdg\$ k\eZ`X [\ \jkX ZXljX j\ _X iX[`ZX[f \e \jkX al[`ZXkliX \e m`ikl[ [\c jfik\f i\Xc`qX[f# gfi cf kXekf XmfZf ZfefZ`d`\ekf [\ cX d`jdX%$ P leX m\q hl\ j\ _X [X[f Zldgc`d`\ekf X gifm`[\e$ Z`X Xek\i`fi%$ <e cf gi`eZ`gXc cX [\dXe[X hl\ Xek\Z\[\ \j ZcXiX gi\Z`jX p i\Â&#x2019;e\ cfj i\hl`j`kfj [\ C\p# gfi cf hl\ j\ c\ [X \c ki}d`k\ M<I98C JLD8I@F%$ 8k\ekf Xc aliXd\ekf i\e[`[f gfi \c XZkfi p [\ Zfe]fid`[X[ X cf [`jgl\jkf gfi \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c%$ :ĂŁK<J< X cX [\dXe[X$ [X <ED8 JFC<;8; @C>L8E :ILQ gfi cX gi\ejX \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcX$ Z`Â?e p hl\ j\ \[`kXe \e \jkX Z`l[X[%$ KÂ&#x201E;e^Xj\ \e Zl\ekX cX ZXj`ccX al[`Z`Xc Ef% *,,' [\c ;I% ?<:KFI :?Ă M<Q%$ 8^iÂ&#x201E;^l\j\ Xc gifZ\jf cX [fZld\ekXZ`Â?e XZfdgXÂ&#x152;X[X%$ EFK@=@HL<J<%$ ] ;iX% DXiÂ&#x2C6;X <c\eX :_}m\q% Al\q% Cf hl\ Zfdle`Zf X ljk\[ gXiX cfj ]`e\j [\ C\p% C\ gi\m\e^f [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;X$ cXi ZXj`cc\if al[`Z`Xc gXiX i\Z`Y`i ]lkliXj efk`]`ZXZ`fe\j% 89>% AFI>< D@<I 9LI98EF J<:I<K8I@F )* ;< CF :@M@C ;< G@:?@E:?8 ?Xp ]`idX p j\ccf 8:&.0-'.&k] I<GL9C@:8 ;<C <:L8;FI ALQ>8;F F:K8MF ;< CF :@M@C ;< G@:?@E:?8
:@K8:@äE AL;@:@8C 8 C8 J<zFI8 C<@;8 AL;@K? :8:8P
:8:8P J< C< ?8:< :FEF:<I <C <OKI8:KF ;< ;<D8E;8 ;@MFI:@F P GIFM@;<E:@8 HL< 8 :FEK@EL8:@äE J< KI8EJ:I@9< <OKI8:KF 8Zkfi1 :<J8I >L@CC<IDF A@D<E<Q :?LHL@ ;\dXe[X[X1 C<@;8 AL;@K? :8:8P :8:8P 8jlekf1 ;`jfclZ`Â?e [\c m`eZlcf dXki`dfe`Xc DXki`dfe`f Z\c\$ YiX[f \e Hl`kf# , [\ j\gk`\d$ Yi\ )''/# [liXek\ \c dXki`df$ e`f ef j\ gifZi\f _`af Xc^lef :lXekÂ&#x2C6;X% @E;<K<ID@E8;8 Ki}d`k\%$ M<I98C JLD8I@F Al`Z`f ;@MFI:@F E%$ */,$)'(( ;I% <;@JFE 98IIFJ GIFM@;<E:@8 4 4 4 4 ALQ>8;F F:K8MF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# cle\j 0 [\ dXpf [\c )'((# cXj '/_)-%$ M@JKFJ%$ CX Zfdg\$ k\eZ`X [\ \jkX ZXljX j\ _X iX[`ZX[f \e \jkX al[`ZXkliX \e m`ikl[ [\c jfik\f i\Xc`qX[f# gfi cf kXekf XmfZf ZfefZ`d`\ekf [\ cX d`jdX <e cf gi`eZ`gXc cX [\dXe[X hl\ Xek\Z\[\ \j ZcXiX gi\Z`jX p i\Â&#x2019;e\ cfj i\hl`j`kfj [\ C\p# gfi cf hl\ j\ c\ [X \c kiX$ d`k\ M\iYXc JldXi`f%$ 8k\ekf Xc aliXd\ekf i\e[`[f gfi \c XZkfi p [\ Zfe]fid`[X[ X cf [`jgl\jkf gfi \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# ZÂ&#x2C6;k\j\ X cX [\dXe[X[X C<@;8 AL;@K? :8:8P :8:8P gfi cX gi\ejX \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcXZ`Â?e p hl\ j\ \[`kXe \e \jkX Z`l[X[%$ KÂ&#x201E;e^Xj\ \e Zl\ekX cX ZXj`ccX al[`Z`Xc j\Â&#x152;X$ cX[X% 8^iÂ&#x201E;^l\j\ Xc gifZ\jf cX [fZld\ekXZ`Â?e XZfdgXÂ&#x152;X[X%$ EFK@=@HL<J<%$
] ;i% 8idXe[f 8Z\c[f >lXcc`% Al\q Cf hl\ Zfdle`Zf X ljk\[ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi [fd`Z`c`f al[`Z`Xc \e \c GXcXZ`f [\ Aljk`Z`X [\ \jkX Z`l[X[ gXiX i\Z`Y`i ]lkliXj efk`]`ZXZ`fe\j% Hl`kf# () [\ dXpf [\c )'((% ;i% =iXeZ`jZf Aljk`Z`X J<:I<K8I@F ?Xp ]`idX p j\ccf 8:&.0-**&k] I% [\c <% ALQ>8;F M@><J@DF ;< CF :@M@C ;< G@:?@E:?8%
<OKI8:KF AL;@:@8C :@K8:@äE AL;@:@8C 8C JI% C@E:FCE <=I8@E JFC8IK< ;< C8 :ILQ# ;< :FE=FID@;8; :FE CF ;@JGL<JKF <E <C 8IK% /) ;<C :F;@>F ;< GIF:<;@D@<EKF :@M@C 8:KFI1 A<EEP CFI<E8 8CFDFKF 9I8MF ;<D8E;8;F1 C@E:FCE <=I8@E JFC8IK< ;< C8 :ILQ KI8D@K<1 M<I98C JLD8I@F AL@:@F1 ;@MFI:@F Ef (,)(&('%$eX :L8EK@81 @E;<K<ID@E8;8 GIFM@;<E:@81$ ALQ>8;F M@><J@DF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# d`Â&#x201E;iZfc\j (0 [\ \e\if [\c )'((# cXj (-_+,%$ M@JKFJ1 <e m`ikl[ [\c jfik\f i\Xc`qX[f# p \e d` ZXc`[X[ [\ Al\q K`klcXi [\ \jkX Al[`ZXkliX XmfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ ZXljX% <e cf gi`e$ Z`gXc# cX [\dXe[X hl\ Xek\Z\$ [\ \j ZcXiX# gi\Z`jX p i\Â&#x2019;e\ cfj i\hl`j`kfj [\ C\p%$ gfi cf hl\ j\ cX XZ\gkX X ki}d`k\ \e al`Z`f M\iYXc JldXi`X% <e Zfe$ j\Zl\eZ`X# \ekiÂ&#x201E;^l\j\ Zfg`X [\ cX [\dXe[X p gifm`[\eZ`X i\ZXÂ&#x2C6;[X \e \ccX Xc [\dXe[X$ [f j\Â&#x152;fi C@E:FCE <=I8@E JFC8IK< 8CFDFKF# :Â&#x2C6;k\j\ Xc [\dXe[X[X gfi d\[`f [\ cX gi\ejX \e lef [\ cfj g\i`Â?[`Zfj [\ dXpfi Z`iZlcXZ`Â?e [\ \jkX :`l[X[ [\ Hl`kf# pX hl\ Zfe aliXd\ekf [\ZcXiX cX XZkfiX jfYi\ \c [\jZfefZ`d`\ekf [\c XZklXc gXiX[\if f [fd`Z`c`f [\c
REPUBLICA DEL ECUADOR SUPERINTENDENCIA DE COMPAĂ&#x2018;IAS
REPUBLICA DEL ECUADOR SUPERINTENDENCIA DE COMPAĂ&#x2018;IAS
EXTRACTO
EXTRACTO
CONSTITUCION DE LA COMPAĂ&#x2018;Ă?A MEGAHIMERSA CIA. LTDA.
CONSTITUCION DE LA COMPAĂ&#x2018;Ă?A FINALPEST CIA. LTDA.
La compaĂąĂa MEGAHIMERSA CIA. LTDA. se constituyĂł por escritura pĂşblica otorgada ante el Notario VigĂŠsimo Segundo del Distrito Metropolitano de Quito, el 05 de Mayo de 2011, fue aprobada por la Superintendencia de CompaĂąĂas, mediante ResoluciĂłn SC.IJ.DJC. Q.11.002052 de 12 de Mayo de 2011. 1.- DOMICILIO: Distrito Metropolitano de Quito, provincia de PICHINCHA, 2.- CAPITAL: Suscrito US$ 1.000,00 NĂşmero de Participaciones 1.000 Valor US$ 1,00 3.- OBJETO: El objeto de la compaĂąĂa es: A) LA DISTRIBUCION Y COMERCIALIZACION DE MATERIALES DE CONSTRUCCION, MATERIALES ELECTRICOS, HERRAMIENTAS, MAQUINARIAS, GRIFERIA, PISOS Y OTROS MATERIALES....
AC/79625/tf
<OKI8:KF AL;@:@8C :@K8:@äE AL;@:@8C 81 D8I@8E8 : 8 I I < I 8 :8II<I8 8:KFI1 ALC@F :<J8I >L<M8I8 M8I>8J
Convocatoria
La compaĂąĂa FINALPEST CIA. LTDA. se constituyĂł por escritura pĂşblica otorgada ante el Notario Cuarto del Distrito Metropolitano de Quito, el 06 de Abril de 2011, fue aprobada por la Superintendencia de CompaĂąĂas, mediante ResoluciĂłn SC.IJ.DJC.Q.11.002009 de 10 de Mayo de 2011.
A JUNTA GENERAL EXTRAORDINARIA DE ACCIONISTAS DE LA COMPAĂ&#x2018;Ă?A DE TRANSPORTE INTERPROVINCIAL DE PASAJEROS EXPRESS ATENAS S.A. De conformidad con lo establecido en el art. DĂŠcimo Octavo de los Estatutos asĂ como al art. 236 de la Ley de CompaĂąĂa, se convoca a los seĂąores Accionistas de la CompaĂąĂa Express Atenas S.A. a Junta General Extraordinaria de Accionistas la misma que se llevarĂĄ a efecto el dĂa MiĂŠrcoles 25 de mayo del 2011, en la Sede Social que queda en San Pablo de Turubamba, Panamericana Sur, KilĂłmetro 14 1/2 de la ciudad de Quito, a las 08:00 horas para tratar y resolver el siguiente orden del dĂa: Primero.- ConstataciĂłn del quĂłrum e instalaciĂłn de la Junta General Ordinaria.
1. DOMICILIO: Distrito Metropolitano de Quito, provincia de PICHINCHA
Segundo.- Lectura de comunicaciones
2. CAPITAL: Suscrito US$ 400,00 NĂşmero de Participaciones 40 Valor US$ 10,00
Cuarto.- Resolver sobre fecha y financiamiento del viaje a GalĂĄpagos
Tercero.- Informe del seĂąor Gerente
Quinto.- Resolver sobre asegurada al IESS Sexto.- PlanificaciĂłn RomerĂa al Cisne
3. OBJETO: El objeto de la compaĂąĂa es:...PRESTACIĂ&#x201C;N DE SERVICIOS EN EL CONTROL Y ELIMINACION DE PLAGAS, DESRATIZACION Y CONTROL DE ROEDORES...
SĂŠptimo.- Asunto AdministraciĂłn Octavo.- Clausura de la Junta General Extraordinaria Nota: Se ruega puntual asistencia, la falta o atraso pasada la media hora de iniciado serĂĄ sancionado de acuerdo a lo determinado en el Reglamento. Por Express Atenas S.A., muy atentamente,
Dr. Oswaldo Noboa LeĂłn. DIRECTOR JURIDICO DE COMPAĂ&#x2018;IAS
Dr. Oswaldo Noboa LeĂłn DIRECTOR JURIDICO DE COMPAĂ&#x2018;Ă?AS
I<GL9C@:8 ;<C <:L8;FI ALQ>8;F ;<:@DF ;< CF :@M@C ;< G@:?@E:?8
;<D8E;8;81 D8I@8E8 :8II<I8 :8II<I8% AL@:@F ;< ;@MFI:@F Ef% ')-, $ )'(( <>% KI8D@K<1 M<I98C JLD8I@F% :L8EKĂ 81 @e[\k\id`eX[X% =LE;8D<EKF C<>8C1 8ik% ((' ZXljXc (( [\c :Â?[`^f :`m`c% 89F>8;F ;<=<EJFI1 89% A8@D< 8I8>äE CFQ8;8 :8J@CC8 AL;@:@8C (//' :%8%G% ALQ>8;F ;<:@DF ;< CF :@M@C ;< G@:?@E:?8% Hl`kf# dXik\j (, [\ dXiqf [\c )'((# cXj '0_+)%%$ M@JKFJ%$ <e m`ikl[ [\c jfik\f [\ c\p Zfii\jgfe$ [`\ek\# XmfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ ZXljX \e ZXc`[X[ [\ Al\q K`klcXi% <e cf gi`eZ`gXc cX [\dXe[X hl\ Xek\Z\[\ \j ZcXiX p i\Â&#x2019;e\ cfj i\hl`j`kfj [\ C\p# gfi cf hl\ [\ZcXi}e[fj\$ cX gifZ\[\ek\ j\ cX XZ\gkX Xc ki}d`k\ m\iYXc jldXi`f%$ <e dÂ&#x201E;i`kf Xc aliXd\ekf hl\ k`\e\ i\e[`[f \c j\Â&#x152;fi Alc`f :Â&#x201E;jXi >l\mXiX MXi^Xj p [\ Zfe]fid`$ [X[ Zfe \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# j\ fi[\eX hl\ j\ Z`k\ X cX [\dXe$ [X[X j\Â&#x152;fiX DXi`XeX :Xii\iX :Xii\iX# d\[`Xek\ ki\j glYc`$ ZXZ`fe\j gfi cX gi\ejX \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZl$ cXZ`Â?e [\ \jkX Z`l[X[ [\ Hl`kf p [\ Zfe]fid`[X[ Xc 8ik% ((0 [\c :Â?[`^f :`m`c %$ :fe cX `ej`$ elXZ`Â?e [\ :liX[fi 8[$c`k\d# Â?`^Xj\ cX fg`e`Â?e [\ lef [\ cfj 8^\ek\j =`jZXc\j ;`jki`kXc\j [\ G`Z_`eZ_X%$% 8^iÂ&#x201E;^l\j\ X cfj Xlkfj cfj [fZld\ekfj hl\ XZfdgXÂ&#x152;X X cX [\dXe[X%$ KÂ&#x201E;e^Xj\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc# j\Â&#x152;XcX[f gXiX gfjk\$ i`fi\j efk`]`ZXZ`fe\j# XjÂ&#x2C6; Zfdf cX Xlkfi`qXZ`Â?e Zfe]\i`[X X jl 8Yf^X[f ;\]\ejfi%$ :Â&#x2C6;k\j\ p Efk`]Â&#x2C6;hl\j\% ]$ ;I% AFJ< D8IK@E<Q E8I8EAF% AL<Q% Cf hl\ c\ Zfdle`Zf X ljk\[ p c\ Z`kf gXiX cfj ]`e\j [\ c\p g\ik`e\ek\j# gi\m`e`Â&#x201E;e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ \e j\Â&#x152;XcXi ZXj`cc\if al[`Z`Xc gXiX jlj ]lkliXj efk`]`ZXZ`fe\j%$ :\ik`]`Zf%$ ;i% <[^Xi ?Xif MXc\eql\cX%
Quito, a 12 de mayo del 2011.
Quito, 10 de Mayo de 2011.
Quito, 12 de Mayo de 2011.
[\dXe[X[f# [\ Zfe]fid`[X[ Zfe cf [`jgl\jkf \e \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c% 8^iÂ&#x201E;^l\ej\ Xc gifZ\jf cfj [fZld\ekfj gi\j\ekX[fj%$ KÂ&#x201E;e^Xj\ \e Zl\ekX \c ZXj`cc\if p [fd`Z`c`f al[`Z`Xc [\j`^eX[f gfi cX XZkfiX%$EFK@=@HL<J<%$ ] %$ ;I% ><ID8E >FEQ8C<Q ;<C GFQF%$ AL<Q %$ GIFM@;<E:@81 ALQ>8;F M@>yJ@DF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# al\m\j . [\ 8Yi`c [\c )'((# cXj (-_+,%$ <e d` ZXc`[X[ [\ Al\q \eZXi^X[f [\ \jkX Al[`ZXkliX d\[`Xek\ XZZ`Â?e [\ g\ijfeXc Ef -/0$;G$;GG [\ + [\ 8Yi`c [\c )'((# XmfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ ZXljX% <c \jZi`$ kf hl\ Xek\Z\[\ X^iÂ&#x201E;^l\j\ Xc gifZ\jf% ;\ Zfe]fid`[X[ Zfe cf [`jgl\jkf \e \c 8ik% )0' [\c :Â?[`^f [\ GifZ\[`d`\ekf Z`m`c# j\ XZcXiX \c Xlkf [\ ZXc`]`ZX$ Z`Â?e [`ZkX[f \c (0 [\ \e\if [\c XÂ&#x152;f \e Zlijf# gfi ZlXekf \iiÂ?e\Xd\ek\ j\ _X _\Z_f ZfejkXi cfj efdYi\j p Xg\cc`$ [fj [\c [\dXe[X[f Zfdf cfj [\ C@E:FCE <=I8@E JFC8IK< 8CFDFKF# j`\e[f cf Zfii\Z$ kf cfj [\ C@E:FCE <=I8@E JFC8IK< ;< C8 :ILQ%$ \e cf [\d}j [`Z_f Xlkf hl\ `eXck\iXYc\%$ Efk`]Â&#x2C6;hl\j\%$ ;i% N8>E<I A8K@M8 HL@IFQ%$ AL<Q <E:8I>8;F %$ Cf hl\ Zfdle`Zf X L[%# gXiX cfj ]`e\j [\ C\p# gi\m`e`Â&#x201E;e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi :Xj`cc\if Al[`Z`Xc gXiX gfjk\$ i`fi\j efk`]`ZXZ`fe\j [\ekif [\c g\iÂ&#x2C6;d\kif c\^Xc%$ :\ik`]`Zf%$ ;i% >8CF 98<Q A8@D< J<:I<K8I@F ?Xp ]`idX p j\ccf 8:&.0-)*&k]
UNION FUERZA Y TRABAJO JosĂŠ Alfredo Mazon AllĂĄn Gerente AC/79617/tf
AC/79641/tf
J<:I<K8I@F ;<C ALQ>8;F ;<:@DF ;< CF :@M@C ;< G@:?@E:?8 ?Xp ]`idX p j\ccf 8:&.0-(/&k]
D<EFI<J I<GL9C@:8 ;<C <:L8;FI ALQ>8;F ;< C8 E@z<Q P 8;FC<J:<E:@8
QFE8 :<EKIF C8 D8EQ8E8 ;<C :8EKFE HL@KF :@K8:@äE AL;@:@8C 8 C8 J<zFI8 D8I@8 =<IE8E;8 8PD8I 8C<E:8JKIF <OKI8:KF :8LJ81 K<E<E:@8 P :LJKF;@8 Eif% ;< AL@:@F1 (.0/)$)'(($ ''-/ 8:KFI1 AL8E >89I@<C J@D98z8 : ? @ : 8 @ Q 8 ; < D 8 E ;8 ;8 1 D 8 I @ 8 =<IE8E;8 8P D 8 I 8C<E:8JKIF :L8EK@81 @E;<K<ID@E8;8 AL<Q1 ;I8% K8EP8 :<;<zF Q8D9I8EF GIFM@;<E:@8 ALQ>8;F ;< E@z<Q P 8 ; F C <J: < E : @ 8 QF E 8 :<EKIF C8 D8EQ8E8 :8LJ8 (.0/)$)'(($''-/ E@zFJ1 J@D98z8 8PD8I =I8E:F K?FD8J# J@D98z8 8PD8I CL:8J <C@8E M@JKFJ1 8mfZf ZfefZ`d`\ekf [\ cX gi\$ j\ek\ ZXljX# \e d` ZXc`[X[ [\ Al\qX K`klcXi [\c Alq^X[f [\ cX E`Â&#x152;\q p 8[fc\jZ\eZ`X# QfeX :\ekif CX DXeqXeX# [\c :XekÂ?e Hl`kf# \e m`ikl[ [\ cX I\jfclZ`Â?e Ef '..$)'(' [\c :fej\af [\ cX Al[`ZXkliX# [\ ]\Z_X (. [\ [`Z`\dYi\ [\c )'('# glYc`ZX[X \e \c I\^`jkif F]`Z`Xc eÂ&#x2019;d\$ if *-. [\ ]\Z_X )' [\ \e\if [\c )'(( p \c D\dfiXe[f Ef% '',$J$:A$OH$)'(( [\ ]\Z_X - [\ \e\if [\ )'((# jljZi`kf gfi \c J\Zi\kXi`f [\c :fej\af [\ cX Al[`ZXkliX < %$ CX [\dXe[X [\ K<E<E:@8 hl\ Xek\Z\$ [\# gi\j\ekX[X gfi \c j\Â&#x152;fi AL8E >89I@<C J@D98z8 :?@:8@Q8# \j ZcXiX# gi\Z`jX p i\Â&#x2019;e\ cfj i\hl`j`kfj [\ c\p \jkXYc\Z`[fj \e \c 8ik% -. [\c
:Â?[`^f [\ GifZ\[`d`\ekf :`m`c m`^\ek\# gfi cf hl\ j\ cX XZ\gkX Xc ki}d`k\ Zfek\eZ`fjf ^\e\iXc Zfek\dgcX[f \e \c XikÂ&#x2C6;Zlcf ).( p j`^l`\ek\j [\c :Â?[`^f [\ cX E`Â&#x152;\q p 8[fc\jZ\eZ`X% j\ [`j$ gfe\ :@K8I gfi cX gi\ejX# X cX j\Â&#x152;fiX D8I@8 =<IE8E;8 8PD8I 8C<E:8JKIF# \jkf \j d\[`Xek\ ki\j glYc`ZXZ`f$ e\j hl\ j\ _Xi}e \e ]\Z_Xj [`jk`ekXj# \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcXZ`Â?e [\ cX gif$ m`eZ`X [\ G`Z_`eZ_X%$ J` ZfekX$ [fj m\`ek\ [Â&#x2C6;Xj X gXik`i [\ cX ]\Z_X [\ cX Â&#x2019;ck`dX glYc`ZXZ`Â?e# ef ZfdgXi\Z`\i\# j\ j\^l`i} Zfe cX ZXljX \e jl i\Y\c[Â&#x2C6;X2 Xc \]\Zkf i\dÂ&#x2C6;kXj\ \c \okiXZkf Zfii\jgfe[`\ek\# X[m`ik`\e$ [f cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi [fd`Z`c`f al[`Z`Xc p&f [`i\ZZ`Â?e [\c Zfii\f \c\ZkiÂ?$ e`Zf gXiX jlj efk`]`ZXZ`fe\j# X[\d}j cX [\dXe[X[X k`\e\ cX fYc`^XZ`Â?e [\ XeleZ`Xi cfj d\[`fj gifYXkfi`fj# Zfe$ ]fid\ [`jgfe\ \c `eZ`jf ]`eXc [\c 8ik% @eeld\iX[f *+ [\ cX C\p I\]fidXkfi`X Xc :Â?[`^f [\ cX E`Â&#x152;\q p 8[fc\jZ\eZ`X# cX [\dXe[X[X Xc ZfdgXi\Z\i X al`Z`f \e \c dfd\ekf [\ Zfek\jkXi cX [\dXe[X# [\Y\i} Zldgc`i Zfe cf gi\Z\gklX[f \e \c XikÂ&#x2C6;Zlcf (') [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c%$ CXj gXik\j ZfdgXi\Z\i}e g\ijf$ eXcd\ek\ f d\[`Xek\ gifZl$ iXZ`Â?e Xdgc`X p jl]`Z`\ek\ Zfe ZcXljlcX \jg\Z`Xc gXiX kiXej`^`i p [\ ef ZfdgXi\Z\i# j\ Zfe$ k`elXi} cX ZXljX \e i\Y\c[Â&#x2C6;X% F]Â&#x2C6;Z`\j\ X cX F]`Z`eX KÂ&#x201E;Ze`ZX [\ cX :XjX Ă&#x2C6;Ki\j DXel\cXjĂ&#x2030;# QfeX :\ekif p i\dÂ&#x2C6;kXj\ Zfg`Xj j`dgc\j [\c \og\[`\ek\# X ]`e [\ hl\ `em\jk`^l\ p gi\j\ek\ X \jkX Al[`ZXkliX \c i\jg\Zk`mf `e]fid\# \e \c gcXqf [\ (' [Â&#x2C6;Xj# ZfekX[fj [\j[\ cX efk`]`ZXZ`Â?e Zfe \jkX XmfZXkfi`X%$ 8^iÂ&#x201E;^l\j\ cfj [fZld\ekfj XgXi\aX[fj X cX [\dXe[X%$ KÂ&#x201E;e^Xj\ \e Zl\ekX cX ZXj`ccX al[`Z`Xc Ef% -'+0 [\ cX ;\]\ejfiÂ&#x2C6;X GÂ&#x2019;Yc`ZX# [\j`^eX[X gfi \c XZkfi# j\Â&#x152;fi AL8E >89I@<C J@D98z8 :?@:8@Q8%$ 8ZkÂ&#x2019;\ cX ;iX%
>cX[pj 9li^fj 9Xii\ef# \e ZXc`[X[ [\ J\Zi\kXi`X [\ \jkX Al[`ZXkliX%$ EFK@=@HL<J< P :@K<J<% ] %$ ;I8% K8EP8 :<;<zF Q8D9I8EF AL<Q8% Cf hl\ Zfdle`Zf X ljk\[ gXiX cfj ]`e\j [\ c\p% ;I8% >C8;PJ I8HL<C 9LI>FJ 9 8 I I < E F J<:I<K8I@8 <o`jk\ ]`idX p j\ccf% 8%G%&+0('/&b%d% I% [\c <% :@K8:@FE AL;@:@8C J<:I<K8I@8 ;<C ALQ>8;F GI@D<IF ;< C8 E@z<Q P 8;FC<J:<E:@8 ;<C :8EKFE HL@KF
8C J<zFI AFI>< ?L>F D8:8J GIF8zF # C< ?8>F J89<I ;< C8 J@>L@<EK< ;<D8E;8% <OKI8:KF1 :8LJ81 ;<D8E;8 ;< 8C@D<EKFJ )*)*$)''.$:9 8:KFI81$ QFJ@D8 EF?<D@ ?L:8E<J ;<D8E;8;81$AFI>< ?L>F D8:8J GIF8zF D<EFI<J1$ A < J J @ : 8 P C @ JJ < K K < D 8:8J ?L8:8E<J :L8EK@81$;F:< D @ C ;FC8I<J AL<Q1 ALQ>8;F GI@D<IF ;< C8 E@z<Q P 8;FC<J:<E:@8 ;<C :8EKFE HL@KF G I F M @ ; < E : @ 8% ALQ>8;F GI@D<IF ;< E@zC<Q P 8;FC<J:<E:@8 ;< G@:?@E:?8# HL@KF# '/ ;< DXpf [\c )''0# cXj (,_)+%$ Gfi Zl}ekf cX XZZ`feXek\ X [X[f Zldgc`d`\ekf X cf fi[\eX[f \e cX gifm`[\eZ`X `ed\[`XkX Xek\i`fi% <e m`jkX [\ hl\ cX g\k`Z`feXi`X [\ZcXiX YXaf aliX$ d\ekf [\jZfefZ\i \c [fd`Z`c`f [\c [\dXe[X[f p g`[\ j\ c\ Z`k\ gfi cX gi\ejX# \jk\ Alq^X[f Zfe ]le[Xd\ekf \e \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c m`^\ek\# [`jgfe\ Z`kXi Zfe \c Zfek\e`[f [\ cX [\dXe[X p \jk\ [\Zi\kf Xc j\Â&#x152;fi AFI>< ?L>F D8:8J GIF8zF# gfi lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcXZ`Â?e [\c gXÂ&#x2C6;j# d\[`Xe$
COMITĂ&#x2030; PRO MEJORAS â&#x20AC;&#x153;JARDINES DEL SURâ&#x20AC;? Acuerdo Ministerial Nro. 00337 Reformado Nro 00191 M.I.E.S. Domicilio: SUR ORIENTE, SECTOR LA COCHA EL BEATERIO Parroquia Chillogallo, CantĂłn Quito, Prov. Pichincha
De conformidad a las actas y nuestros estatutos, se convoca a los socios seĂąores: ASIMBAYA JOSE, TITO CARLOS, VILLAGRAN ALMEIDA VICTOR MANUEL, GARCIA BOLIVAR, AZA RAQUEL, NAULA NEGRETE MARIANA, TENEMAZA JOSE, ALVAREZ FLORENCIO, CHISIQUINGA NERYS, QUISHPE ROSA ZOILA, CALAPAQUI CAYO SEGUNDO ALEJANDRO, VELE MANUEL, CHIQUITO MARTHA, AUCATOMA MARIA MARCELINA, PONCE BAYRON RUBEN, BAUTISTA JUAN, MENDOZA JUAN FLORESMILO, MAIGUA ROSA, PAZMIĂ&#x2018;O ELERYS, YASIG CRISTOBAL, ARCE RUIZ MIGUEL ANGEL, GUAMBUGUETE JUAN, RODRIGUEZ OCHOA BOLIVAR, VELA CARMEN, SAN MARTIN ANGEL ALEJANDRO, SAN MARTIN ANGEL HUMBERTO, MARTINEZ SEGUNDO MANUEL, (los nombres y apellidos completos constan en Secretaria), a la asamblea ordinaria de fecha 12 de Junio del 2011, a las 9H00, con una espera de treinta minutos, para que cancelen todas sus deudas pendientes al 31 de Diciembre del 2009, sin prĂłrroga alguna, caso contrario la Asamblea General de conformidad a nuestros estatutos, legalmente en derecho resolverĂĄ su situaciĂłn. SR. MANUEL PULLAY PRESIDENTE
IÂ&#x152;be j[ce W c_i [d[c_]ei YkWdZe [cf_[pWd W j[d[h hWpÂ&#x152;d$ @79?DJE 8;D7L;DJ;
k\ ki\j glYc`ZXZ`fe\j \e [Â&#x2C6;Xj [`]\i\ek\j# gi\m`e`Â&#x201E;e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi ZXj`cc\if al[`Z`Xc# gXiX i\Z`Y`i jlj efk`]`ZXZ`fe\j# \e ZXjf [\ ef _XZ\icf j\ jljkXeZ`XiX \c ki}d`k\ \e i\Y\c[Â&#x2C6;X% :@K<J< p EFK@=Ă HL<J< = %$;I% AFJ< D8I@8 ;LI8E GFE:< AL<Q% CF HL< :FDLE@:F G8I8J CFJ =@E<J ;< C<P HL@KF 8 (/ ;< ALE@F ;<C )''0 ;I% ;@<>F 8E><C D8I:<CF :8D8:?F :?8M<Q J<:I<K8I@F AL;@:@8C ;<C ALQ>8;F GI@D<IF ;< C8 E@z<Q P 8;FC<:<E:@8 ;<C :8EKFE HL@KF <o`jk\ ]`idX p j\ccf% 8%G%&+0(*/&b%d% ALQ>8;F J<>LE;F ;< CF :@M@C ;< E8GF$HL@AFJ :@K8:@äE AL;@:@8C
8:KFI1 :<:@C@8 8;I@8E8 >L8D9@ P8E8:8CCF ;<D8E;8;81 ;8IN@E M@:<EK< < C @ Q 8 C ; < :8I;<E8J AL@:@F Ef (),$)'('$G KIĂ?D@K<1 <JG<:@8C GIFM@;<E:@81 A L Q > 8 ; F DLCK@:FDG<K<EK< ;< E8GF$HL@AFJ1%$ 9X\qX# dXiqf '+ [\c )'((# cXj feZ\ _fiXj hl`eZ\ d`elkfj% M@JKFJ1 8mfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ [\dXe[X [\ Xc`d\ekfj p gXk\i$ e`[X[ Ef (),$)'('$G \e d` ZXc`$ [X[ [\ Al\q Dlck`Zfdg\k\ek\ [\ EXgf$Hl`afj p j\ [`jgfe\1 8^iÂ&#x201E;^l\j\ X cfj Xlkfj \c \jZi`$ kf [\ [\dXe[X gi\j\ekX[f gfi :<:@C@8 8;I@8E8 >L8D9@ P8E8:8CCF# Xc d`jdf hl\ gfi i\le`i cfj i\hl`j`kfj [\ c\p# j\ cX ZXc`]`ZX Zfdf ZcXiX# gi\Z`jX# Zfdgc\kX p j\ cX X[d`k\ Xc gifZ\[`d`\ekf Zfe$ k\dgcXe[f \e \c KÂ&#x2C6;klcf M# C`Yif @@ [\ cX C\p I\]fidXkfi`X Xc :Â?[`^f Fi^}e`Zf [\ cX E`Â&#x152;\q p 8[fc\jZ\eZ`X p Xc ki}d`k\ Zfek\eZ`fjf ^\e\iXc [`jgl\jkf \e \c 8ik% ).( [\c :Â?[`^f [\ cX
E`Â&#x152;\q p 8[fc\jZ\eZ`X% :Â&#x2C6;k\j\ Xc [\dXe[X[f ;8IN@E M@:<EK< <C@Q8C;< :8I;<E8J# [\ Zfe]fid`[X[ Zfe cf [`jgl\jkf \e \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# gfi ZlXe$ kf cX XZkfiX YXaf aliXd\ekf X]`idX [\jZfefZ\i \c [fd`Z`$ c`f# i\j`[\eZ`X \ `e[`m`[lXc`[X[ XZklXc [\c [\dXe[X[f# \jkf \j# gfi ki\j m\Z\j \e lef [\ cfj g\i`Â?[`Zfj [\ dXpfi Z`iZlcX$ Z`Â?e eXZ`feXc# \e cX Z`l[X[ [\ Hl`kf# gfi ef \o`jk`i g\i`Â?[`Zfj \e cX cfZXc`[X[# e` \e cX ZXg`kXc gifm`eZ`Xc# gXiX kXc \]\Zkf Zfe$ ]`Â&#x201E;iXj\ \c \okiXZkf i\jg\Zk`mf% ;\ Zfe]fid`[X[ Zfe \c 8ik% @eeld\iX[f 0# `eZ`jf j\^le[f [\ cX C\p I\]fidXkfi`X Xc KÂ&#x2C6;klcf M# C`Yif @@ [\c :Â?[`^f Fi^}e`Zf [\ cX E`Â&#x152;\q p 8[fc\jZ\eZ`X cXj gXik\j ZfeZliiXe X cX :ilq IfaX <ZlXkfi`XeX [\ cX Z`l[X[ [\ Hl`kf# gXiX jfd\k\ij\ Xc \oX$ d\e ZfdgXiXk`mf [\ cfj gXkif$ e\j [\ YXe[Xj f j\Zl\eZ`Xj [\ }Z`[f [\jfo`ii`YfelZcl`Zf 8;E # \e \c [Â&#x2C6;X p _fiX X j\Â&#x152;X$ cXij\ leX m\q hl\ j\ ZldgcX Zfe cX Z`kXZ`Â?e Xc [\dXe[X$ [f% :fdf XeleZ`f [\ gil\YX X^iÂ&#x201E;^l\ej\ cfj [fZld\ekfj hl\ j\ X[alekXe X cX [\dXe[X% <emÂ&#x2C6;\j\ \c f]`Z`f jfc`Z`kX[f% <c [Â&#x2C6;X [\ cX Xl[`\eZ`X Â&#x2019;e`ZX hl\ j\ j\Â&#x152;XcXi} fgfikleXd\ek\ \c [\dXe[X[f i`e[X Zfe]\j`Â?e al[`Z`Xc [\ Zfe]fid`[X[ Zfe cXj gi\^lekXj hl\ j\ i\Xc`qXi}e \e \j\ dfd\ekf% KÂ&#x201E;e^Xj\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc Ef ,, p cX Xlkfi`qXZ`Â?e [X[X X jl 8Yf^X[f [\]\ejfi% Efk`]Â&#x2C6;hl\j\% ]%$ ;i% DXiZf GifXÂ&#x152;f CÂ?g\q# AL<Q DLCK@:FDG<K<EK< ;< E8GF$HL@AFJ% Cf hl\ Zfdle`Zf gXiX cfj ]`e\j [\ C\p p c\ Z`kf# Zfe cX X[m\ik\e$ Z`X [\ cX fYc`^XZ`Â?e hl\ k`\e\ \c [\dXe[X[f [\ j\Â&#x152;XcXi ZXj`cc\$ if al[`Z`Xc \e \jk\ Alq^X[f gXiX jlj efk`]`ZXZ`fe\j% :\ik`]`Zf% ;iX% DXiÂ&#x2C6;X Jl}i\q J<:I<K8I@8 <o`jk\ ]`idX p j\ccf% 8%G%&+0(,*&b%d% ALQ>8;F K<I:<IF ;< C8
CONVOCATORIA La compaĂąĂa â&#x20AC;&#x153;ADETRANSCORPâ&#x20AC;? S.A., convoca a todos sus socios accionistas a la Junta General Extraordinaria a realizarse el dĂa sĂĄbado 21 de mayo del 2011 a las 9h00, en la Sala de Sesiones de la compaĂąĂa ubicada en la Av. Condor Ă&#x2018;an OE1-389 y Mullullacta. Orden del dĂa 1.- Conocimiento y resoluciĂłn del informe de Gerencia. 2.- Conocimiento y resoluciĂłn de los estados financieros al 31 de diciembre del 2010. 3.- ResoluciĂłn de cartas de renuncias de Presidente y Gerente. 4- Nombramientos de Presidente y Gerente para un perĂodo estatutario.
Sr. Vilman Guillermo Paredes GERENTE AC/79644/tf
Ĺ? Ä Ä&#x2021;Ĺ? Ĺ? Ĺ? Ĺ?Ä&#x201A;Ä&#x20AC;Ä Ä
Ĺ? +. Ĺ? Ä&#x152;Ĺ? J<:I<K8I@8 8%G%&+0(-+&b%d% <OKI8:KF AL;@:@8C ALQ>8;F J<OKF 8;ALEKF ;< C8 E@z<Q P 8;FC<J:<E:@8 ;< G@:?@E:?8
:@K8:@äE AL;@:@8C 81 GI<JLEKF G8;I< ;<C D<EFI : ? I @ J K @ 8 E 8C<A8E;IF AL:8 GĂ?<Q# \e \c Al`Z`f [\ 8:F>@D@<EKF =8D@C@8I hl\ j`^l\e >8CF <=I8Ă E AL:8 C<äE p IFJ8 O@D<E8 GĂ?<Q M8C;@M@<QF :8LJ81 8:F>@D@<EKF =8D@C@8I Eif% ;< AL@:@F )'(($','0$ 8: 8:KFI<J1 >8CF <=I8Ă E AL:8 C<äE p IFJ8 O@D<E8 GĂ?<Q M8C;@M@<QF ;<D8E;8;F1 GI<JLEKF G8 ; I < ;<C D < E F I :?I@JK@8E 8C<A8E;IF AL:8 GĂ?<Q :L8EKĂ 81 @E;<K<ID@E8;8 AL<Q81 ;I8% :<:@C@8 ;L8IK< <JKyM<Q F9A<KF1 8:F>@D@<EKF =8D@C@8I GIFM@;<E:@81 ALQ>8;F J<OKF ;< C8 E@z<Q P 8;FC<J:<E:@8 ;< G@:?@E:?8% Hl`kf# cle\j 0 [\ dXpf [\c )'((# cXj '/_(+%$ M@JKFJ1 8mfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ ZXljX \e d` ZXc`$ [X[ [\ Al\qX 8[alekX [\ Â&#x201E;jkX Al[`ZXkliX d\[`Xek\ XZZ`Â?e [\ g\ijfeXc Ef% ,(/$;G$;GG [\ (+ [\ dXiqf [\c )'(( p gfi cX iXqÂ?e [\ jfik\fj%$ <e cf gi`eZ`gXc cX g\k`Z`Â?e hl\ Xek\Z\[\ \j ZcXiX# i\Â&#x2019;e\ cfj i\hl`j`kfj [\ c\p p j\ XZ\gkX X ki}d`k\% :fdf d\[`[X [\ gifk\ZZ`Â?e p [\ Zfe]fid`$ [X[ Zfe cf gi\Z\gklX[f \e cfj 8ikÂ&#x2C6;Zlcfj )(, [\c :Â?[`^f [\ cX E`Â&#x152;\q p 8[fc\jZ\eZ`X \c d\efi :?I@JK@8E 8C<A8E;IF AL:8 GĂ?<Q# g\idXe\qZX \e 8:F>@D@<EKF =8D@C@8I# _XjkX hl\ \jkX Xlkfi`[X[ [`j$ gfe^X cf ZfekiXi`f \e \c ?f^Xi jlj XYl\cfj dXk\iefj >8CF <=I8Ă E AL:8 C<äE p IFJ8 O@D<E8 GĂ?<Q M8C;@M@<QF
CONVOCATORIA
Quito, 13 de mayo del 2011
Atentamente
SRA. MERY PUENTESTAR SECRETARIA
E@z<Q P C8 8;FC<J:<E:@8 ;< G@:?@E:?8 8c j\Â&#x152;fi ?<:KFI I@:8I;F 9FIA8 ?<II<I8 p Xc glYc`Zf \e ^\e\iXc j\ c\ _XZ\ jXY\i cf j`^l`\ek\1 8:KFI81 K<I<J8 JFC<;8; :8E<E:@8 ;<D8E;8;F1 ?<:KFI I@:8I;F 9FIA8 ?<II<I8 D<EFI1 D8I@8 9<C<E 9FIA8 :8E<E:@8 :8LJ81 8LKFI@Q8:@FE ;< J8C@;8 ;<C G8@J ELD<IF ,''$)'(( CM ALQ>8;F K<I:<IF ;< C8 E@z<Q P 8;FC<J:<E:@8 ;<C :8EKFE HL@KF%$ Hl`kf# '0 [\ dXpf [\c )'((# cXj (,?((%$ M@JKFJ1 8mfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ ZXljX \e ZXc`[X[ [\ Al\q [\c alq^X[f K\iZ\if [\ cX E`Â&#x152;\q p 8[fc\jZ\eZ`X [\c ZXekÂ?e Hl`kf p \e m`ikl[ [\c jfik\f i\Xc`qX[f gfi cX jXcX Zfii\jgfe[`\ek\%$ LeX m\q hl\ cX j\Â&#x152;fiX K<I<J8 JFC<;8; :8E<E:@8# YXaf aliXd\ekf [\ c\p _X [\ZcXiX[f hl\ g\j\ X cXj dÂ&#x2019;ck`gc\j Xm\i`^lXZ`fe\j c\ _X j`[f `dgfj`Yc\ [\k\i$ d`eXi \c [fd`Z`c`f p$f i\j`$ [\eZ`X [\c j\Â&#x152;fi ?<:KFI 9FIA8 ?<II<I8# j\ gifZ\$ [\ X ZXc`]`ZXi cX [\dXe[X [\ 8LKFI@Q8:@äE ;< J8C@;8 ;<C G8@J# cX d`jdX hl\ \j ZcXiX Zfdgc\kX p i\Â&#x2019;e\ cfj i\hl`j`kfj [\ c\p # gfi cf hl\ j\ cX XZ\gkX X jl ki}d`k\ \jkXYc\$ Z`[f \e \c @eeld\iX[f *+ [\ cXj i\]fidXj Xc :Â?[`^f [\ cX E`Â&#x152;\q p X[fc\jZ\eZ`X % $ <e cf gi`eZ`$ gXc :@K<J< Xc j\Â&#x152;fi ?<:KFI 9FIA8 ?<II<I8# Zfe \c Zfe$ k\e`[f [\ cX [\dXe[X p Xlkf hl\ Xek\Z\[\ d\[`Xek\ ki\j glYc`ZXZ`fe\j hl\ j\ _Xi}e# ZX[X leX [\ \ccXj \e ]\Z_Xj [`j$ k`ekXj \e lef [\ cfj g\i`Â?[`Zfj [\ Xdgc`X Z`iZlcXZ`Â?e [\ \jkX Z`l[X[ [\ Hl`kf# [\ Zfe]fid`$ [X[ Zfe \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# j\ c\ gi\m`\e\ Xc [\dXe[X[f% [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;X$ cXi [fd`Z`c`f al[`Z`Xc \e \jkX Z`l[X[ [\ Hl`kf# gXiX gfjk\$ i`fi\j efk`]`ZXZ`fe\j%$ KÂ?d\j\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc hl\ j\Â&#x152;XcX cX XZkfiX gXiX gfjk\i`fi\j efk`]`ZXZ`fe\j%$ 8^iÂ&#x201E;^l\j\ cX [fZld\ekXZ`Â?e hl\ X[alekX%$ Efk`]Â&#x2C6;hl\j\%$ EFK@=@HL<J< p :Ă K<J< ] ;i% ?l^f :\c` Ă?cmXi\q%$ Al\q Cf hl\ Zfdle`Zf gXiX cfj ]`e\j [\ C\p%$ 8k\ekXd\ek\ ;I8% CL:@8 <E:8C8;8
AC/79630/tf
A Junta General Extraordinaria de Socios de la compaĂąĂa â&#x20AC;&#x153;GEOCARTEG CEMâ&#x20AC;? Se convoca a los seĂąores socios de la compaĂąĂa â&#x20AC;&#x153;GEOCARTEG SOLUCIONES INTEGRALES EN GEOGRAFIA, CARTOGRAFIA Y ARTES GRAFICAS CEMâ&#x20AC;? y a la Licenciada Janeth Hurtado Yerovi, Comisario de la compaĂąĂa, a la Junta General Extraordinaria de Socios que tendrĂĄ lugar el dĂa miĂŠrcoles 25 de mayo de 2011, a las 09H00, en la sala de sesiones de la compaĂąĂa ubicada en el cuarto piso del edificio principal del Instituto GeogrĂĄfico Militar, situado en Seniergues E4-676 y Gral. Telmo Paz y MiĂąo del Distrito Metropolitano de Quito, con el fin de tratar como Ăşnico punto del Orden del DĂa, la designaciĂłn del Gerente General de la compaĂąĂa. FabiĂĄn Danilo CĂĄrdenas F. CRNL. DE C.S.M. PRESIDENTEY GERENTE GENERAL SUBROGANTE Quito, 12 de mayo de 2011. AC/79636/tf
Ä&#x2020;
gfi ZlXekf jl dX[i\ ]Xcc\Z`Â?# p \c d\efi eleZX ]l\ i\ZfefZ`[f gfi jl gX[i\ Y`fcÂ?^`Zf gfi cf hl\ j\ [\jZfefZ\ jl `[\ek`[X[%$ J\ [`jgfe\ hl\ cX F]`Z`eX KÂ&#x201E;Ze`ZX [\ \jkX Al[`ZXkliX# i\Xc`Z\ cXj i\jg\Zk`mXj `em\jk`^XZ`fe\j [\ Zfe]fid`[X[ X cf gi\jZi`kf \e cfj 8ikÂ&#x2C6;Zlcfj )-/ p j`^l`\ek\j [\c Zl\igf c\^Xc Xek\j `emf$ ZX[f# [\Y`\e[f gi\j\ekXi \c `e]fid\ \e \jkX Al[`ZXkliX \e \c k\id`ef [\ [`\q [Â&#x2C6;Xj%$ P gfi ZlXekf cfj XZZ`feXek\j _Xe [X[f Zldgc`d`\ekf Zfe cf [`j$ gl\jkf \e gifm`[\eZ`X Xek\i`fi p _XY\i [\ZcXiX[f cfj [\dXe$ [Xek\j >8CF <=I8Ă E AL:8 C<äE p IFJ8 O@D<E8 GĂ?<Q M8C;@M@<QF# YXaf aliXd\ekf hl\ c\ _X j`[f `dgfj`Yc\ [\k\i$ d`eXi cX `[\ek`[X[# `e[`m`[lXc`$ [X[ f i\j`[\eZ`X [\c gi\jlekf gX[i\ [\c d\efi :?I@JK@8E 8C<A8E;IF AL:8 GĂ?<Q# [\ Zfe]fid`[X[ Zfe \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# j\ [`jgfe\ Z`kXi gfi cX gi\ejX \e lef [\ cfj [`Xi`fj [\ Xdgc`X Z`iZlcXZ`Â?e eXZ`feXc# Xc gfj`Yc\ gX[i\ [\c d\efi :?I@JK@8E 8C<A8E;IF AL:8 GĂ?<Q# \jkf \j d\[`Xek\ ki\j glYc`ZXZ`fe\j hl\ j\ _Xi}e \e ]\Z_Xj [`jk`e$ kXj \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcXZ`Â?e eXZ`feXc% J` ZfekX[fj m\`ek\ [Â&#x2C6;Xj X gXik`i [\ cX ]\Z_X [\ cX Â&#x2019;ck`dX glYc`$ ZXZ`Â?e# ef ZfdgXi\Z`\i\# j\ j\^l`i} Zfe cX ZXljX \e jl i\Y\c[Â&#x2C6;X# Xc \]\Zkf i\dÂ&#x2C6;kXj\ \c \okiXZkf Zfii\jgfe[`\ek\# j\ c\ X[m`\ik\ Xc [\dXe[X[f [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi ZXj`ccX al[`Z`Xc gXiX efk`]`ZXZ`f$ e\j hl\ c\ Zfii\jgfe[Xe% 8ZklÂ&#x201E; \c ;i% @m}e JXek`cc}e DXikÂ&#x2C6;e\q# J\Zi\kXi`f 8[alekf [\ Â&#x201E;jkX Al[`ZXkliX%$ Efk`]Â&#x2C6;hl\j\%$ ] ;iX% :\Z`c`X ;lXik\ <jkÂ&#x201E;m\q# Al\qX 8[alekX%$ Cf hl\ Zfdle`Zf X ljk\[ gXiX cfj ]`e\j c\^Xc\j Zfej`^l`\ek\j# gi\m`e`Â&#x201E;e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi [fd`Z`c`f f ZXj`ccX al[`Z`Xc gXiX jlj gfj$ k\i`fi\j efk`]`ZXZ`fe\j [\ekif [\c g\iÂ&#x2C6;d\kif [\ c\p% ;i% @MĂ?E J8EK@CCĂ?E D8IKĂ E<Q J<:I<K8I@F 8;ALEKF ?Xp ]`idX p j\ccf 8:&.0-*.&k] I% [\c <% :@K8:@FE AL;@:@8C J<:I<K8I@8 ;<C ALQ>8;F GI@D<IF ;< C8 E@z<Q P 8;FC<J:<E:@8 ;<C :8EKFE HL@KF
8 C8 J<zFI8 =8EEP :8ID<E J8E:?@ =CFI<J # C< ?8>F J89<I ;< C8 J@>L@<EK< ;<D8E;8% <OKI8:KF1 :8LJ81 ;<D8E;8 I<98A8 ;< WG<EJ@FE 8C@D<EK@:@8 )'.( $)''+$:9 8:KFI1$ <L><E@F 8HL@C<J D@>L<C 8E><C ; < D 8 E ; 8 ; 8 1 $ D 8 I @ 8 M @ :KF I @ 8 9 < E @ K < Q KF8G8EK8 D<EFI<J1$;@<>F ><FM8EEP P ;8M@; G8KI@:@F <L><E@F 9<E@K<Q :L8EK@81$F:?F:@<EKFJ F:?<EK8 P F:?F AL<Q1 ALQ>8;F GI@D<IF ;< C8 E@z<Q P 8;FC<J:<E:@8 ;<C :8EKFE HL@KF <e \c Al`Z`f :fek\eZ`fjf >\e\iXc &Z`m`c Ef% (.0,($)''+$ )'.( hl\ j`^l\ 9<E@K<Q KF8G8EK8 D8I@8 M@:KFI@8 \e ZfekiX [\ <L><E@F 8HL@C<J D@>L<C 8E><C# _Xp cf j`^l`\ek\1 G I F M @ ; < E : @ 8% ALQ>8;F GI@D<IF ;< E@z<Q P 8;FC<J:<E:@8 ;< G@:?@E:?8%$ Hl`kf# dXik\j (' [\ dXpf [\c )'((# cXj ('_+*%$ Gifm\p\e[f \c \jZi`kf gi\j\e$ kX[f gfi \c j\Â&#x152;fi D@>L<C <L><E@F 8HL@C<J% <e m`jkX [\ hl\ \c g\k`Z`feXi`f [\ZcXiX
Ĺ? Ĺ?
Ĺ?
Ĺ? Ĺ?
Ĺ?
Ä&#x2021;
Ĺ? Ä Ä&#x2021;Ĺ? Ĺ? Ĺ? Ĺ?Ä&#x201A;Ä&#x20AC;Ä Ä
Ĺ? +. Ĺ? Ä&#x152;Ĺ?
YXaf aliXd\ekf [\jZfefZ\i \c [fd`Z`c`f [\ cX [\dXe[X[X p g`[\ j\ c\ Z`k\ gfi cX gi\ejX# \jk\ Alq^X[f Zfe ]le[Xd\ekf \e \c 8ik% `eeld\iX[f *, `eZ`jf k\iZ\if# [\ cX C\p I\]fidXkfi`X Xc K`klcf M# C`Yif @@ [\c :Â?[`^f [\ cX E`Â&#x152;\q p 8[fc\jZ\eZ`X# \e ZfeZfi[XeZ`X Zfe \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c m`^\ek\# [`jgfe\ Z`kXi Zfe \c Zfek\e`[f [\ cX [\dXe$ [X p \jk\ [\Zi\kf X cX j\Â&#x152;fiX D8I@8 M@:KFI@8 9<E@K<Q KF8G8EK8# gfi lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcXZ`Â?e [\c gXÂ&#x2C6;j# d\[`Xek\ ki\j glYc`$ ZXZ`fe\j \e [Â&#x2C6;Xj [`]\i\ek\j# gi\m`e`Â&#x201E;e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi ZXj`cc\if al[`Z`Xc# gXiX i\Z`Y`i jlj efk`]`$ ZXZ`fe\j# \e ZXjf [\ ef _XZ\i$ cf j\ jljkXeZ`XiX \c ki}d`k\ \e i\Y\c[Â&#x2C6;X% ;\ Zfe]fid`[X[ Zfe cf gi\m`jkf \e \c 8ik% *+ [\ cX C\p i\]fidXkfi`X Xc K`klcf M# c`Yif j\^le[f [\c :Â?[`^f [\ cX E`Â&#x152;\q p 8[fc\jZ\eZ`X# glYc`$ ZX[f \e \c I\^`jkif F]`Z`Xc# Ef% -+* [\c )/ [\ alc`f [\c )''0# cXj gXik\j [\Y\e XeleZ`Xi cXj gil\$ YXj :@K<J< p EFK@=Ă HL<J< ] %$ ;I8% B8K?P8 9LI98EF @z@>8# AL<Q8 8;ALEK8% Cf hl\ Zfdle`Zf X ljk\[ gXiX cfj ]`e\j [\ c\p 89% >L@CC<IDF GFE:< =@<IIF J<:I<K8I@F 8;ALEKF ?Xp ]`idX p j\ccf 8:&.0-*+&k] ALQ>8;F ;<:@DF J<>LE;F ;< C 8 E@z<Q P 8;FC<J:<E:@8 ;< G@:?@E:?8
:@K8:@FE AL;@:@8C%$ 81 >I<:@8 A8:HL<C@E< QLI@K8 QLI@K8 Al`Z`f Jljg\ej`Â?e [\ GXki`X Gfk\jkX[ Ef )'('$(''-$A>J 8Zkfi1 :<J8I 89J8CFE 8C9LA8 =I<@I< ;\dXe[X[f1 > I < : @ 8 A8:HL<C@E< QLI@K8 QLI@K8 FYa\kf1 Jljg\ej`Â?e [\ cX gXki`X gfk\jkX[ [\ jlj _`aXj K8E@8 A8:HL<C@E< P B8IC8 ;FD<E@:8 8C9LA8 QLI@K8# XdgXiX[f \e cf hl\ [`jgfe\ \c 8ik% (() eld\iXc ( :Â?[`^f [\ cX E`Â&#x152;\q p 8[fc\jZ\eZ`X% Ki}d`k\1 :fek\eZ`fjf >\e\iXc :lXekÂ&#x2C6;X1 @E;<K<ID@E8;8 GIFM@;<E:@8 ;@:K8;81 Ă&#x2C6;ALQ>8;F ;<:@DF J<>LE;F ;< C8 E@z<Q P 8;FC<J:<E:@8 ;< G@:?@E:?8%$ Hl`kf# )/ [\ [`Z`\dYi\ [\c )'('# cXj (,_(/%$ M@JKFJ%$ LeX m\q hl\ j\ _X [X[f Zldgc`d`\ekf X cf i\hl\i`[f \e gifm`[\eZ`X Xek\i`fi%$ CX [\dXe[X hl\ Xek\Z\[\# \j ZcXiX p i\Â&#x2019;e\ cfj i\hl`j`kfj [\ C\p# gfi cf hl\ j\ cX XZ\gkX Xc ki}d`k\ Zfek\e$ Z`fjf ^\e\iXc ZfejX^iX[f \e \c 8ik% ).( [\c :Â?[`^f [\ E`Â&#x152;\q p 8[fc\jZ\eZ`X%$ <e dÂ&#x201E;i`kf Xc aliXd\ekf i\e[`[f gfi \c XZZ`f$ eXek\ p [\ Zfe]fid`[X[ Zfed cf [`jgl\jkf \e \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# ZÂ&#x2C6;k\j\ X cX [\dXe[X[X >I<:@8 A8:HL<C@E< QLI@K8 QLI@K8# gfi d\[`f [\ cX gi\ejX \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZl$ cXZ`Â?e X e`m\c eXZ`feXc# gXiX cf ZlXc gfi J\Zi\kXiÂ&#x2C6;X \ekiÂ&#x201E;^l\$ j\ \c \okiXZkf Zfii\jgfe[`\e$ k\%$ I\dÂ&#x2C6;kXj\ Xk\ekf f]`Z`f Xc j\Â&#x152;fi ;`i\Zkfi Gifm`eZ`Xc [\ cX ;@E8G<E [\ G`Z_`eZ_X# X ]`e [\ hl\ gifZ\[X Zfe]fid\ X cf gi\m`jkf \e \c `eZ`jf j\^le$ [f [\c 8ik% )-/ [\c :Â?[`^f [\ E`Â&#x152;\q p 8[fc\jZ\eZ`X# \j [\Z`i j\ gifZ\[X X `[\ek`]`ZXi p lY`ZXi cfj cl^Xi\j [\ i\j`$ [\eZ`X [\ cX dX[i\ [\jXgX$ i\Z`[X >I<:@8 A8:HL<C@E< QLI@K8 QLI@K8%$ :lÂ&#x201E;ek\j\ \e cX gi\j\ek\ ZXljX# Zfe cX F]`Z`eX KÂ&#x201E;Ze`ZX Xj`^eX[X X \jkX Al[`ZXkliX X ]`e [\ hl\ j\ i\X$ c`Z\ cX `em\jk`^XZ`Â?e g\ik`e\ek\ p j\ gi\j\ek\ \c `e]fid\ X \jkX
Al[`ZXkliX%$ :fe]fid\ X cf gi\$ m`jkf \e \c 8ik% *'+ [\c :Â?[`^f :`m`c# ZlÂ&#x201E;ek\j\ \e cX gi\j\ek\ ZXljX# Zfe lef [\ cfj j\Â&#x152;fi\j 8^\ek\ =`jZXc [\ G`Z_`eZ_X%$ :Â&#x2C6;k\j\ p Efk`]Â&#x2C6;hl\j\% Ă&#x2C6; = ;iX% C`c`X 8^l`cXi >fi[fe% Al\qX% Cf hl\ Zfdle`Zf X ljk\[ P C< :@KF gi\m`e`Â&#x201E;e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;X$ cXi ZXj`cc\if al[`Z`Xc gXiX jlj efk`]`ZXZ`fe\j%$ ;i% AlXe >lXd~e JX^Â&#x152;Xp J\Zi\kXi`f \eZXi^X[f ?Xp ]`idX p j\ccf 8:&.0-(*&k] <OKI8:KF AL;@:@8C ALQ>8;F J<OKF 8;ALEKF ;< C8 E@z<Q P 8;FC<J:<E:@8 ;< G@:?@E:?8
:@K8:@äE AL;@:@8C 81 <;>8I G8èC >L<M8I8 98:8 p 8E8 D8IĂ 8 :äI;FM8 :?Ă?M<Q# \e \c Al`Z`f [\ 8:F>@D@<EKF =8D@C@8I hl\ j`^l\ \e jl ZfekiX cX j\Â&#x152;fiX I@K?8 C<FGFC;@E8 :?Ă?M<Q G@J:F :8LJ81 8:F>@D@<EKF =8D@C@8I Eif% ;< AL@:@F )'(($*(0$8: 8:KFI81 I@K?8 C<FGFC;@E8 :?Ă?M<Q G@J:F ;<D8E;8;FJ1 <;>8I G8èC >L<M8I8 98:8 p 8E8 D8IĂ 8 :äI;FM8 :?Ă?M<Q :L8EKĂ 81 @E;<K<ID@E8;8 AL<Q81 ;I8% :<:@C@8 ;L8IK< <JKyM<Q F9A<KF1 8:F>@D@<EKF =8D@C@8I GIFM@;<E:@81 ALQ>8;F J<OKF ;< C8 E@z<Q P 8;FC<J:<E:@8 ;< G@:?@E:?8% Hl`kf# d`Â&#x201E;iZfc\j + [\ dXpf [\c )'((# cXj ('_+*%$ M@JKFJ1 8mfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ ZXljX \e d` ZXc`$ [X[ [\ Al\qX 8[alekX [\ Â&#x201E;jkX Al[`ZXkliX d\[`Xek\ XZZ`Â?e [\ g\ijfeXc Ef% ,(/$;G$;GG [\ (+ [\ dXiqf [\c )'(( p gfi cX iXqÂ?e [\ jfik\fj%$ <e cf gi`e$ Z`gXc cX g\k`Z`Â?e hl\ Xek\Z\[\ \j ZcXiX# i\Â&#x2019;e\ cfj i\hl`j`kfj [\ c\p p j\ XZ\gkX X ki}d`k\% :fdf d\[`[X [\ gifk\ZZ`Â?e p [\ Zfe]fid`[X[ Zfe cf gi\$ Z\gklX[f \e cfj 8ikÂ&#x2C6;Zlcfj )(, [\c :Â?[`^f [\ cX E`Â&#x152;\q p 8[fc\jZ\eZ`X cXj d\efi\j 8I@8E8 G8D<C8# DäE@:8 F;8CPJ p 8C@JFE G8LC@E8 >L<M8I8 :äI;FM8# g\i$ dXe\qZXe \e 8:F>@D@<EKF =8D@C@8I# _XjkX hl\ \jkX Xlkf$ i`[X[ [`jgfe^X cf ZfekiXi`f \e \c ?f^Xi jl XYl\cX dXk\ieX I@K?8 C<FGFC;@E8 :?Ă?M<Q G@J:F gfi ZlXekf jlj gX[i\j _Xe XYXe[feX[f \c _f^Xi [\j[\ _XZ\ d}j [\ le XÂ&#x152;f# p cXj d\efi\j _Xe g\idXe\Z`[f YXaf jl gifk\ZZ`Â?e p Zl`[X[f%$ J\ [`jgfe\ hl\ cX F]`Z`eX KÂ&#x201E;Ze`ZX [\ \jkX Al[`ZXkliX# i\Xc`Z\ cXj i\jg\Zk`mXj `em\jk`^XZ`fe\j [\ Zfe]fid`[X[ X cf gi\jZi`kf \e cfj 8ikÂ&#x2C6;Zlcfj )-/ p j`^l`\ek\j [\c Zl\igf c\^Xc Xek\j `emf$ ZX[f# [\Y`\e[f gi\j\ekXi \c `e]fid\ \e \jkX Al[`ZXkliX \e \c k\id`ef [\ [`\q [Â&#x2C6;Xj%$ P gfi ZlXekf cX XZZ`feXek\ _X [X[f Zldgc`d`\ekf Zfe cf [`jgl\jkf \e gifm`[\eZ`X Xek\i`fi p _XY\i [\ZcXiX[f cX [\dXe[Xek\ I@K?8 C<FGFC;@E8 :?Ă?M<Q G@J:F# YXaf aliXd\ekf hl\ c\ _X j`[f `dgfj`Yc\ [\k\id`eXi cX `e[`m`[lXc`[X[ f i\j`[\eZ`X [\ fkif ]Xd`c`Xi gXiX d` e`\kX# [\ Zfe]fid`[X[ Zfe \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# j\ [`jgfe\ Z`kXi gfi cX gi\ejX \e lef [\ cfj [`Xi`fj [\ Xdgc`X Z`iZlcXZ`Â?e eXZ`f$ eXc# X cfj j\Â&#x152;fi\j <;>8I G8èC >L<M8I8 98:8 p 8E8 D8IĂ 8 :äI;FM8 :?Ă?M<Q# \jkf \j d\[`Xek\ ki\j glYc`ZX$ Z`fe\j hl\ j\ _Xi}e \e ]\Z_Xj [`jk`ekXj \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcXZ`Â?e eXZ`f$ eXc% J` ZfekX[fj m\`ek\ [Â&#x2C6;Xj X gXik`i [\ cX ]\Z_X [\ cX Â&#x2019;ck`dX
Ĺ?
glYc`ZXZ`Â?e# ef ZfdgXi\Z`\i\# j\ j\^l`i} Zfe cX ZXljX \e jl i\Y\c[Â&#x2C6;X# Xc \]\Zkf i\dÂ&#x2C6;kXj\ \c \okiXZkf Zfii\jgfe[`\ek\# j\ c\ X[m`\ik\ Xc [\dXe[X[f [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi ZXj`ccX al[`Z`Xc gXiX efk`]`ZXZ`f$ e\j hl\ c\ Zfii\jgfe[Xe% 8ZklÂ&#x201E; \c ;i% @m}e JXek`cc}e DXikÂ&#x2C6;e\q# J\Zi\kXi`f 8[alekf [\ Â&#x201E;jkX Al[`ZXkliX%$ Efk`]Â&#x2C6;hl\j\%$ :Ă K<J< P EFK@=Ă HL<J< ] ;iX% :\Z`c`X ;lXik\ <jkÂ&#x201E;m\q# Al\qX 8[alekX%$ Cf hl\ Zfdle`Zf X ljk\[ gXiX cfj ]`e\j c\^Xc\j Zfej`^l`\ek\j# gi\m`e`Â&#x201E;e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi [fd`Z`c`f f ZXj`ccX al[`Z`Xc gXiX jlj gfj$ k\i`fi\j efk`]`ZXZ`fe\j [\ekif [\c g\iÂ&#x2C6;d\kif [\ c\p% ;i% @MĂ?E J8EK@CCĂ?E D8IKĂ E<Q J<:I<K8I@F 8;ALEKF ?Xp ]`idX p j\ccf 8:&.0,-(&k] I% [\c <%
8c j\Â&#x152;fi <JK8C@E J8CFDFE I<@EFJF >8CC8I;F# j\ c\ _XZ\ jXY\i hl\ \e \jkX Al[`ZXkliX# j\ _X gifgl\jkf cf hl\ j`^l\1 <OKI8:KF1 8:KFI81 EFID8 D8IC<E< AFIHL< I<8 ;<D8E;8;F1 <JK8C@E J8 CF D F E I < @ E F J F >8CC8I;F F9A<KF1 8c XdgXif [\ cf hl\ \jkXYc\Z\ cfj 8ikj% (, p +* [\ cX C\p% I\]fidXkfi`X Xc K`klcf M# c`Yif @@ [\c :Â?[`^f Fi^}e`Zf [\ cX E`Â&#x152;\q p 8[fc\jZ\eZ`X# jfc`$ Z`kf j\ j`imX `e[\oXi cXj g\e$ j`fe\j Xc`d\ek`Z`Xj X ]Xmfi [\ d` _`aX kf[X m\q hl\ cX g\ej`Â?e ]`aX[X ef j\ ZfdgX[\Z\ Zfe cX kXYcX \og\[`[X gXiX \c \]\Zkf ALQ>8;F J<OKF ;< CF :@M@C ;< J8C:<;F%$ JXcZ\[f# ( j}YX[f (0 [\ dXiqf [\c )'((%$ CXj ('_(*%$ M@JKFJ1 8k\ekf cX iXqÂ?e j\ekX[X gfi cX j\Â&#x152;fiX J\Zi\kXi`X Al[`Z`Xc [\ cX K\e\eZ`X GfcÂ&#x2C6;k`ZX [\ cX gXiifhl`X [\ :ljlYXdYX# p \e dÂ&#x201E;i`kf Xc aliXd\ekf i\e[`$ [f gfi cX XZZ`feXek\ EFID8 D8IC<E< AFIHL< I<8# [\ Zfe]fid`[X[ Zfe cf [`jgl\j$ kf \e \c 8ik% /)%* [\c :Â?[`^f GifZ\jXc :`m`c# efk`]`hl\j\ Zfe cX `e[\oXZ`Â?e jfc`Z`kX[X Xc Xc`$ d\ekXek\ <JK8C@E J8CFDFE I<@EFJF >8CC8I;F# gfi leX jfcX m\q gfi d\[`f [\ le g\i`Â?[`Zf [\ dXpfi Z`iZlcXZ`Â?e [\ cX Z`l[X[ [\ CXkXZle^X p Hl`kf%$ Efk`]`hl\j\%$ ] ;i%
I_ Y[hh|_i bW fk[hjW W jeZei bei [hheh[i" jWcX_Â&#x192;d bW l[hZWZ i[ gk[ZWh| \k[hW$ H78?D:H7D7J> J7=EH;
MÂ&#x2C6;Zkfi ?l^f 8cZfZ\i <%# Al\q J\okf [\ cf :`m`c [\c :XekÂ?e JXcZ\[f# j`^l\e cX Z\ik`]`ZXZ`Â?e p efk`]`ZXZ`Â?e ] ;i% I`ZXi[f :_`jX^lXef%$ J\Zi\kXi`f%$ Cf hl\ Zfdle`Zf gfi c\p# c\ gi\m\e^f [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi [fd`Z`c`f al[`$ Z`Xc \e \jkX Z`l[X[# X ]`e [\ hl\ i\Z`YX cXj efk`]`ZXZ`fe\j hl\ c\ Zfii\jgfe[X# hl\[Xe[f c\^Xcd\ek\ Z`kX[f%$ :\ik`]`Zf%$ ;i% I`ZXi[f :_`jX^lXef J<:I<K8I@F =`idX `c\^`Yc\ ?Xp le j\ccf ]&)).-*
<A<:LK@MFJ I%<% ALQ>8;F ;y:@DF J<>LE;F ;< CF :@M@C ;< G@:?@E:?8
:@K8:@äE AL;@:@8C 81 :FDG8zà 8 8GGC<J I < J K8 L I 8 E K < J ; < C <:L8;FI :@8%CK;8 ><I<EK< JI% 89I8?8D QFC;8E G8JK<IE8B P GFI JLJ GIFG@FJ ;<I<:?FJ AL@:@F1 <A<:LK@MF EIF% (-,/$)''0$ JG 8:KF I : F D G8 z à 8 GIF:<J8;FI8 E8:@FE8C ;< 8C@D<EKFJ GIFE8:8 :%8% G% A% ;I% AFI>< 8D<I@:F >8CC<>FJ <>L@>LI<E ;<D8E;8;81 :FDG8zà 8 8GGC<J I<JK8LI8EK<J ;<C <:L8;FI :@8% CK;8 ><I<EK< JI% 89I8?8D QFC;8E G8JK<IE8B P GFI JLJ GIFG@FJ ;<I<:?FJ% :L8EKà 8 (*%'''#ff KI�D@K< <A<:LK@MF @E@:@8;F '+ ;< <E<IF ;<C )'(' F9A<KF% :F9IF ;< C<KI8 ;< :8D9@F GIFM@;<E:@8 ALQ>8;F ;y:@DF J<>LE;F ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# '+ [\ <e\if [\c )'('# cXj c-_+/%$ M@JKFJ%$ <e d` ZXc`[X[ [\ Al\q K`klcXi [\ cX Al[`ZXkliX# XmfZf ZfefZ`d`\ekf [\ cX gi\$ j\ek\ ZXljX% CX [\dXe[X gi\$
j\ekX[X gfi ;i% Afi^\ 8dÂ&#x201E;i`Zf >Xcc\^fj <^l`^li\e# \e jl ZXc`[X[ [\ GifZliX[fi Al[`Z`Xc [\ cX :fdgXÂ&#x152;Â&#x2C6;X GifZ\jX[fiX EXZ`feXc [\ 8c`d\ekfj :%8% GifeXZX# [\ Zfe]fid`[X[ X cX \jZi`kliX [\ GifZliXZ`Â?e Al[`Z`Xc hl\ j\ [`jgfe\ X^i\$ ^Xi X cX ZXljX# j\ cX ZXc`]`ZX [\ ZcXiX# gi\Z`jX p Zfdgc\kX# gfi cf hl\ j\ cX X[d`k\ Xc ki}d`k\ <a\Zlk`mf% <e cf gi`eZ`gXc cX [\dXe[X[X :fdgXÂ&#x152;Â&#x2C6;X Ă&#x2C6;8ggc\Ă&#x2039;j I\jkXliXek\j [\c <ZlX[fi :Â&#x2C6;X Ck[X%Ă&#x2030;# i\gi\j\ekX[X gfi jl >\i\ek\ j\Â&#x152;fi 8YiX_Xd Qfc[Xe GXjk\ieXb p Â&#x201E;jk\ gfi jlj gif$ g`fj p g\ijfeXc\j [\i\Z_fj \e ZXc`[X[ [\ ^XiXek\ p XmXc jfc`$ [Xi`f# gX^l\e X jl XZi\\[fi cX fYc`^XZ`Â?e [\dXe[X[X f gifgfe^X \oZ\gZ`fe\j [\ekif [\c kÂ&#x201E;id`ef [\ ki\j [Â&#x2C6;Xj# YXaf Xg\iZ`Y`d`\ekf [\ J\ek\eZ`X% :Â&#x2C6;k\j\ X cfj [\dXe[X[fj Xii`YX d\eZ`feX[fj \e \c cl^Xi hl\ j\ `e[`ZX \e cX [\dXe[X# gXiX \c \]\Zkf# \emÂ&#x2C6;\j\ jl]`Z`\ek\ [\j$ gXZ_f X cX Zfii\jgfe[`\ek\ f]`$ Z`eX [\ Z`kXZ`fe\j% 8^iÂ&#x201E;^l\ej\ Xc gifZ\jf cfj [fZld\ekfj X[alekfj# d`jdf hl\ gi\m`f X ZfdglcjXj Z\ik`]`ZX[Xj# iXqÂ?e p i\Z`Yf \e Xlkfj [\j$ ^cÂ?j\j\ p \ekiÂ&#x201E;^l\j\ Xc XZkfi cX \jZi`kliX [\ GifZliXZ`Â?e Al[`Z`Xc% KÂ&#x201E;e^Xj\ \e Zl\ekX \c [fd`Z`c`f al[`Z`Xc j\Â&#x152;XcX[f gfi \c XZkfi%$ EFK@=@HL<J<%$ = %$ ;I% :8ICFJ =<IE8E;<Q @;IFMF%$ AL<Q ;y:@DF J<>LE;F ;< CF :@M@C ;< G@:?@E:?8% ALQ>8;F ;y:@DF J<>LE;F ;< CF :@M@C ;< G@:?@E:?8% Hl`kf# m`\ie\j (, [\ XYi`c [\c )'((% cXj ((_,*%$ LeX m\q hl\ \c [fZkfi Afi^\ 8dÂ&#x201E;i`Zf >Xcc\^fj <^l`^li\e \e jl ZXc`$ [X[ [\ GifZliX[fi Al[`Z`Xc [\ cX :fdgXÂ&#x152;Â&#x2C6;X GifZ\jX[fiX EXZ`feXc [\ 8c`d\ekfj GIFE8:8 :%8% XZkfiX \e cX gi\j\ek\ ZXljX# _X [X[f Zldgc`d`\ekf X cf [`jgl\jkf \e gifm`[\eZ`X Xek\i`fi# j\ [`jgfe\ Z`kXi X cX [\dXe[X[X :fdgXÂ&#x152;Â&#x2C6;X 8ggc\j I\jkXliXek\j
[\c <ZlX[fi :Â&#x2C6;X Ck[X%# X kiXmÂ&#x201E;j [\ jl >\i\ek\ Ji% 8YiX_Xd Qfc[Xe GXjk\ieXb p gfi jlj gifg`fj [\i\Z_fj# gfi d\[`f [\ cX gi\ejX \e le [`Xi`f [\ dXpfi Z`iZlcXZ`Â?e eXZ`feXc hl\ j\ \[`kXe \e \jkX Z`l[X[ [\ Hl`kf# gXiX \c \]\Zkf gfi J\Zi\kXiÂ&#x2C6;X Zfe]`Â&#x201E;iXj\ \c \okiXZ$ kf g\ik`e\ek\%$ EFK@=@HL<J<%$ = %$ ;I% :8ICFJ =<IE8E;<Q @;IFMF%$ AL<Q ;y:@DF J<>LE;F ;< CF :@M@C ;< G@:?@E:?8 Cf hl\ cc\mf X jl ZfefZ`d`\ekf gXiX cfj ]`e\j [\ C\p# gi\m`e`Â&#x201E;e$ [fc\j [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi ZXj`cc\if al[`Z`Xc gXiX jlj gfjk\i`fi\j efk`]`ZX$ Z`fe\j%$ Hl`kf# )' ;< 89I@C ;<C )'((%$ :\ik`]`Zf%$ ;I% =<IE8E;F E8I8EAF =8:KFJ% J<:I<K8I@F ;<C ALQ>8;F ;y:@DF J<>LE;F ;< CF :@M@C ;< G@:?@E:?8% ?Xp le j\ccf 89&)0(/.&ZZ <OKI8:KF
:@K8:@äE AL;@:@8C 8 CFJ J<zFI<J 9C8E:8 >I8:@<C8 A@D<E<Q Fz8K< P AFI>< FJN8C;F =L<EK<J G8:?8 AL@:@F1 <A<:LK@MF Ef% (*-(&)%''0%<:J% 8:KFI1 98E:F GIF:I<;@K J%8% ;<D8E;8;F1 9C8E:8 >I8:@<C8 A@D<E<Q Fz8K< P AFI>< FJN8C;F =L<EK<J G8:?8 ;FD@:@C@F A L ; @ : @ 8 C 1 ;I8% >@F:FE;8 J8C:<;F >8CM<Q :L8EKà 81 LJ ('%'''#ff F9A<KF1 :FE =LE;8D<EKF <E CF GI<M@JKF <E CFJ 8IKJ% +(* P +(, ;<C :ä;@>F ;< GIF:<;@D@<EKF :@M@C <E :FE:FI;8E:@8 :FE CFJ 8IKJ% +/- P +/0 ;<C :ä;@>F ;< :FD<I:@F# ;<D8E;8 <E AL@:@F <A<:LK@MF 8 CFJ J<zFI<J 9C8E:8 >I8:@<C8 A@D<E<Q Fz8K< P AFI>< FJN8C;F =L<EK<J G8:?8# <C G8>F ;<C :8G@K8C 8;<L;8;F# CFJ @EK<I<J<J C<>8C<J P :FJK8J GIF:<J8C<J% ALQ>8;F EFM<EF ;< CF :@M@C ;< G@:?@E:?8% HL@KF# () [\ Efm`\dYi\ [\c )%''0# cXj '0_'+%$ M@JKFJ%$<e m`i$ kl[ [\c jfik\f hl\ Xek\Z\[\ XmfZf ZfefZ`d`\ekf [\ cX gi\$ j\ek\ ZXljX%$ <e cf gi`eZ`gXc cX [\dXe[X \j ZcXiX p gi\Z`$ jX# gfi cf hl\ j\ cX XZ\gkX Xc
REPUBLICA DEL ECUADOR SUPERINTENDENCIA DE COMPAĂ&#x2018;IAS
REPUBLICA DEL ECUADOR SUPERINTENDENCIA DE COMPAĂ&#x2018;IAS
EXTRACTO
EXTRACTO
CONSTITUCIĂ&#x201C;N DE LA COMPAĂ&#x2018;Ă?A PACEXELECTRIC S.A.
CONSTITUCIĂ&#x201C;N DE LA COMPAĂ&#x2018;Ă?A HIMUNINDUSTRIAL CIA. LTDA.
La compaĂąĂa PACEXELECTRIC S.A. se constituyĂł por escritura pĂşblica otorgada ante el Notario DĂŠcimo Octavo del Distrito Metropolitano de Quito, el 21 de Marzo de 2011, fue aprobada por la Superintendencia de CompaĂąĂas, mediante ResoluciĂłn SC.IJ.DJC.Q.11.002057 de 12 de Mayo de 2011.
La compaĂąĂa HIMUNINDUSTRIAL CIA. LTDA. se constituyĂł por escritura pĂşblica otorgada ante el Notario SĂŠptimo del Distrito Metropolitano de Quito, el 06 de Abril de 2011, fue aprobada por la Superintendencia de CompaĂąĂas, mediante ResoluciĂłn SC.IJ.DJC.Q.11.002063 de 12 de Mayo de 2011.
1.- DOMICILIO: Distrito Metropolitano de Quito, provincia de Pichincha. 2.- CAPITAL: Suscrito US$ 800,00 NĂşmero de Acciones 800 Valor US$ 1,00 3.- OBJETO: El objeto de la compaĂąĂa es: UNO) DISEĂ&#x2018;O, DESARROLLO, ENSAMBLAJE, TRANSFORMACIĂ&#x201C;N, MANUFACTURA, INSTALACIĂ&#x201C;N Y MANTENIMIENTO DE TODO TIPO DE MATERIAL ELĂ&#x2030;CTRICO DE BAJA, MEDIA Y ALTA TENSIĂ&#x201C;N PARA LOS SECTORES ELĂ&#x2030;CTRICO, MINERO, INDUSTRIAL, AGROPECUARIO Y DE TELECOMUNICACIONES;---
1.- DOMICILIO: Distrito Metropolitano de Quito, provincia de Pichincha. 2.- CAPITAL: Suscrito US$ 1.000,00 NĂşmero de Participaciones 1.000 Valor US$ 1,00 3.- OBJETO: El objeto de la compaĂąĂa es: A) LA INDUSTRIALIZACIĂ&#x201C;N, FABRICACIĂ&#x201C;N, MANUFACTURA Y COMERCIALIZACIĂ&#x201C;N DISTRIBUCIĂ&#x201C;N Y REPRESENTACIĂ&#x201C;N EN CUALQUIERA DE SUS FASES Y VENTA AL POR MAYOR ...
Dr. Oswaldo Noboa LeĂłn DIRECTOR JURĂ?DICO DE COMPAĂ&#x2018;Ă?AS AR/82916/cc
I% ;<C <% ALQ>8;F M@>yJ@DF GI@D<IF ;< CF :@M@C ;< G@:?@E:?8
:@K8:@äE AL;@:@8C 8 IFJ8 :<:@C@8 GLCC8J LI@9< DX[i\ [\c D\efi A\]]\ijfe
AXm`\i <jgÂ&#x2C6;e GlccXj # AL8E@K8 IFJ8I@F 898I:8 ELz<Q DX[i\ [\c D\efi D`Z_X\c Jk_`m\e <jgÂ&#x2C6;e 8YXiZX # p# Cfj ?\i\[\ifj Gi\jlekfj p [\j$ ZfefZ`[fj [\c ZXljXek\ j\Â&#x152;fi ><FM8EEP =I<;;P <JG@E ?<I<;@8 AL@:@F 1 <A<:LK@MF Ef +/)$ )''0 Ă&#x2020; ?% <% 8:KFI1 ;I% D8I:F 8EKFE@F <JG@E ?<I<;@8 ;<D8E;8;FJ1 IFJ8 :<:@C@8 GLCC8J LI@9< DX[i\ [\c D\efi A\]]\ijfe AXm`\i <jgÂ&#x2C6;e GlccXj # AL8E@K8 IFJ8I@F 898I:8 ELz<Q DX[i\ [\c D\efi D`Z_X\c Jk_`m\e <jgÂ&#x2C6;e 8YXiZX # p# Cfj ?\i\[\ifj Gi\jlekfj p [\jZfefZ`[fj [\c ZXljXek\ j\Â&#x152;fi ><FM8EEP =I<;;P <JG@E ?<I<;@8 =LE;8D<EKF C<>8C%$ 8ikj% +/- p +/. [\c :Â?[`^f [\ :fd\iZ`f p 8ikj% +(* p +(, [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c % :L8EKĂ 81 j\j\ekX p Z`eZf d`c [Â?cXi\j% ;FD@:@C@F C<>8C1 (+,- ;i% DXiZf <jg`e% ALQ>8;F M@>yJ@DF GI@D<IF ;< CF :@M@C ;< G@:?@E:?8%$ HL@KF# )0 [\ Ale`f [\c )''0# cXj (,_(-%$M@JKFJ1 LeX m\q hl\ j\ _X [X[f Zldgc`d`\ekf X cf [`jgl\jkf \e gifm`[\eZ`X `e`$ Z`Xc# cX [\dXe[X hl\ Xek\Z\[\ \j ZcXiX# Zfdgc\kX# gi\Z`jX p i\Â&#x2019;e\ cfj [\d}j i\hl`j`kfj [\k\id`eX[fj gfi cX c\p%$ ;\ZcXi}e[fj\ gifZ\[\ek\ Xc ki}d`k\ \e al`Z`f <a\Zlk`mf# j\ [`jgfe\ hl\ \e \c kÂ&#x201E;id`ef [\ ki\j [Â&#x2C6;Xj cXj j\Â&#x152;fiXj1 IFJ8 :<:@C@8 GLCC8J LI@9< DX[i\ [\c D\efi A\]]\ijfe AXm`\i <jgÂ&#x2C6;e GlccXj # AL8E@K8 IFJ8I@F 898I:8 ELz<Q DX[i\ [\c D\efi D`Z_X\c Jk_`m\e <jgÂ&#x2C6;e 8YXiZX # p# Cfj ?\i\[\ifj Gi\jlekfj p [\j$ ZfefZ`[fj [\c ZXljXek\ j\Â&#x152;fi ><FM8EEP =I<;;P <JG@E ?<I<;@8# ZldgcXe Zfe cX fYc`^XZ`Â?e [\dXe[X[X f gif$ gfe^Xe \oZ\gZ`fe\j j\Xe \jkXj [`cXkfi`Xj f g\i\ekfi`Xj hl\ j\
REPUBLICA DEL ECUADOR SUPERINTENDENCIA DE COMPAĂ&#x2018;IAS
EXTRACTO CONSTITUCIĂ&#x201C;N DE LA COMPAĂ&#x2018;Ă?A COMERCIALIZADORA DEL ECUADOR MOBILE COMPUTER SYSTEMS CIA. LTDA. La compaĂąĂa COMERCIALIZADORA DEL ECUADOR MOBILE COMPUTER SYSTEMS CIA. LTDA. se constituyĂł por escritura pĂşblica otorgada ante el Notario VigĂŠsimo Primero del Distrito Metropolitano de Quito, el 03 de Mayo de 2011, fue aprobada por la Superintendencia de CompaĂąĂas, mediante ResoluciĂłn SC.IJ.DJC. Q.11.002087 de 13 de Mayo de 2011. 1.- DOMICILIO: Distrito Metropolitano de Quito, provincia de Pichincha. 2.- CAPITAL: Suscrito US$ 5.000,00 NĂşmero de Participaciones 5.000 Valor US$ 1,00 3.- OBJETO: El objeto de la compaĂąĂa es: EL DESARROLLO, LA FABRICACIĂ&#x201C;N, INSTALACIĂ&#x201C;N Y COMERCIALIZACIĂ&#x201C;N DE SISTEMAS DE REDES DE COMPUTARIZADOS INTEGRADOS PARA AUTOS, PATRULLAS Y VEHĂ?CULOS EN GENERAL.... Quito, 13 de Mayo de 2011.
Quito, 12 de Mayo de 2011. Dr. Oswaldo Noboa LeĂłn DIRECTOR JURĂ?DICO DE COMPAĂ&#x2018;Ă?AS
Quito, 12 de Mayo de 2011.
ki}d`k\ \a\Zlk`mf%$ :Â&#x2019;dgcXe Zfe cX fYc`^XZ`Â?e [\dXe[X$ [X f gifgfe^Xe \oZ\gZ`fe\j \e \c kÂ&#x201E;id`ef [\ ki\j [Â&#x2C6;Xj cfj [\dXe[X[fj j\Â&#x152;fi\j 9C8E:8 >I8:@<C8 A@D<E<Q Fz8K< p AFI>< FJN8C;F =L<EK<J G8:?8%$ :Â&#x2C6;k\j\ X cfj [\dXe$ [X[fj \e cfj cl^Xi\j hl\ j\ `e[`ZX p \e ]fidX g\ijfeXc%$ KÂ&#x201E;e^Xj\ \e Zl\ekX \c [fd`Z`c`f p ZXj`cc\if al[`Z`Xc [\j`^eX[fj%$ 8^iÂ&#x201E;^l\j\ cX [fZld\ekXZ`Â?e gi\j\ekX[X%$ Efk`]Â&#x2C6;hl\j\%$] % ;i% AX`d\ :Xej\Zf >l\ii\if Al\q ALQ>8;F EFM<EF ;< CF :@M@C ;< G@:?@E:?8% Hl`kf# cle\j (* [\ [`Z`\dYi\ [\c )%'('# cXj ('_,*%$ 8k\ekf \c aliXd\ekf [\ cX gXik\ XZkfiX# ZÂ&#x2C6;k\j\ Xc [\dXe[X[f j\Â&#x152;fi AFI>< FJN8C;F =L<EK<J G8:?8 gfi cX gi\ejX# \e cX ]fidX gi\m`jkX gfi \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c %$ Efk`]Â&#x2C6;hl\j\%$] % ;i% AX`d\ :Xej\Zf >l\ii\if Al\q % ALQ>8;F EFM<EF ;< CF :@M@C ;< G@:?@E:?8 % Hl`kf# al\m\j (+ [\ XYi`c [\c )%'((# cXj ('_,/%$ 8k\ekf \c aliXd\ekf [\ cX gXik\ XZkfiX# ZÂ&#x2C6;k\j\ X cX [\dXe[X[X j\Â&#x152;fiX 9C8E:8 >I8:@<C8 A@D<E<Q Fz8K8 gfi cX gi\ejX# \e cX ]fidX gi\m`jkX gfi \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c%$ Efk`]Â&#x2C6;hl\j\%$] % ;i% AX`d\ :Xej\Zf >l\ii\if Al\q % Cf hl\ Zfdle`Zf X L[% gXiX cfj ]`e\j [\ c\p# gi\m`e`Â&#x201E;e[f$ c\ [\j`^e\ jl [fd`Z`c`f \e \c Alq^X[f Efm\ef [\ cf :`m`c p [\ekif [\c g\iÂ&#x2C6;d\kif c\^Xc%$ ;I% ALC@F DLzFQ J<:I<K8I@F ALQ>8;F EFM<EF :@M@C G@:?@E:?8 ?Xp le j\ccf 8I&/)//-&ZZ
AR/82917/cc
Dr. Oswaldo Noboa LeĂłn DIRECTOR JURĂ?DICO DE COMPAĂ&#x2018;Ă?AS
AR/82913/cc
Zi\Xe Xj`jk`[fj \e [\i\Z_f%$ ;\ Zfe]fid`[X[ Zfe cf [`jgl\j$ kf \e \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c2 p# [\c aliXd\ekf i\e[`[f gfi \c XZkfi# :@K<J<# X cfj [\dXe[X[fj gfi cX gi\ejX \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcXZ`Â?e eXZ`feXc [\ cfj hl\ j\ \[`kXe \e \jkX Z`l[X[ [\ Hl`kf%$8^iÂ&#x201E;^l\j\ cX [fZld\ekXZ`Â?e XZfdgXÂ&#x152;X[X$ KÂ&#x201E;e^Xj\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc [\j`^eX[f gfi \c Zfd$ gXi\Z`\ek\ gXiX jlj gfjk\i`fi\j efk`]`ZXZ`fe\j%$Efk`]Â&#x2C6;hl\j\%$ ;I% IL9<E >@C<I :<;<zF% AL<Q Cf hl\ c\j Zfdle`ZÂ? X Ljk\[\j p C<J :@KF gi\m`e`Â&#x201E;e[fc\j [\
cX fYc`^XZ`Â?e hl\ k`\e\e cfj [\dXe[X[fj [\ j\Â&#x152;XcXi ZXj`$ cc\if al[`Z`Xc# gXiX jlj gfjk\$ i`fi\j efk`]`ZXZ`fe\j%$ C@:% >L@;F <JG@EFQ8 <% J<:I<K8I@F ?Xp ]`idX p j\ccf 8:&.0-+)&k] I<GL9C@:8 ;<C <:L8;FI ALQ>8;F K<I:<IF ;< CF :@M@C ;< G@:?@E:?8
:@K8:@äE AL;@:@8C 8 A<JèJ =@;<C GFIFQF 8>L@II< p ;@>E8 =CFI@J8 Q8D9I8EF J8C;8II<8>8 <OKI8:KF AL@:@F <A<:LK@MF 8:KFI% AFI>< FJN8C;F
?@;8C>F 8E;I8;< ; < D 8 E ;8 ; F J A < J è J =@;<C GFIFQF 8>L@II< p ;@>E8 =CFI@J8 Q8D9I8EF J8C;8II<8>8 :8LJ8 EF% (+('$)''/ :L8EK@8% GXjXe[f [\ cfj :`eZf d`c hl`e`\ekfj [Â?cXi\j# ef cc\^X X cfj el\m\ d`c [Â?cXi\j %%%% >8;F K<I:<IF ;< CF :@M@C ;< G@:?@E:?8%$ HL@KF# )' [\ DXiqf [\c )''0# cXj (._'*%$ M@JKFJ% <e cf gi`e$ Z`gXc# cX [\dXe[X Xek\i`fi \j ZcXiX# gi\Z`jX p i\Â&#x2019;e\ cfj [\d}j i\hl`j`kfj [\ c\p% <e Zfe$ j\Zl\eZ`X# cfj j\Â&#x152;fi\j A<JèJ =@;<C GFIFQF 8>L@II< p ;@>E8 =CFI@J8 Q8D9I8EF
J8C;8II<8>8# ZldgcXe Zfe cX fYc`^XZ`Â?e [\dXe[X[X f gifgfe^Xe \oZ\gZ`fe\j \e \c kÂ&#x201E;id`ef [\ ki\j [Â&#x2C6;Xj# YXaf gi\m\eZ`fe\j c\^Xc\j Zfe]fi$ d\ cf \jkXYc\Z\ \c 8ik% +)( [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c% <e YXj\ Xc Z\ik`]`ZX[f [\c I\^`jkif [\ cX Gifg`\[X[ X[ale$ kf p [\ XZl\i[f X cf gi\m`jkf \e \c 8ik% +)* @YÂ&#x2C6;[\d# j\ fi[\eX \c \dYXi^f [\ Y`\e `edl\Yc\ [\kXccX[f \e \c [fZld\ekf i\]\i`[f p ZfejkXek\ X ]faXj (' [\c \og\[`\ek\# gXiX cf ZlXc# ZlÂ&#x201E;ek\j\ Zfe cfj ]leZ`feXi`fj Zfdg\k\ek\j2 cl\^f `ejZiÂ&#x2C6;YXj\ \e \c I\^`jkif [\ cX Gifg`\[X[ [\c :XekÂ?e Hl`kf% :Â&#x2C6;k\j\c\j X
cfj [\dXe[X[fj gfi d\[`f [\ cX gi\ejX# \e lef [\ cfj g\i`Â?$ [`Zfj [\ dXpfi Z`iZlcXZ`Â?e hl\ j\ \[`kXe \e \jkX Z`l[X[ [\ Hl`kf# \e dÂ&#x201E;i`kf Xc aliXd\ekf i\e[`[f gfi \c XZkfi p Zfe]fi$ d\ cf [\k\id`eX[f \e \c 8ik% /) [\c :Â?[`^f 8[a\k`mf :`m`c% KÂ?d\j\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc j\Â&#x152;XcX[f% 8^iÂ&#x201E;^l\j\ cX [fZld\ekXZ`Â?e XZfdgXÂ&#x152;X[X% Efk`]Â&#x2C6;hl\j\% Cf hl\ Zfdle`Zf gXiX cfj ]`e\j [\ C\p# gi\m`e`Â&#x201E;e[fc\j [\ cX fYc`^XZ`Â?e [\ j\Â&#x152;XcXi ZXj`cc\if al[`Z`Xc gXiX gfjk\i`fi\j efk`$ ]`ZXZ`fe\j% ;i% Afi^\ GXcXZ`fj ?% J<:I<K8I@F ;<C ALQ>8;F
K<I:<IF ;< CF :@M@C ;< G@:?@E:?8 ?Xp ]`idX p j\ccf 8:&.0-))&k]
FI;@E8I@FJ I<GL9C@:8 ;<C <:L8;FI ALQ>8;F J<>LE;F ;< CF :@M@C ;< JL:LD9@FJ
JL:LD9@FJ <:L8;FI J?LJ?L=@E;@ <OKI8:KF AL;@:@8C :@K8:@FE AL;@:@8C 81 JI8% I@K8 JLJ8E8 K@G8E I<GI<J<EK8EK< C<>8C ;< C8 <DGI<J8 ;LI8>8J J%8% 8:KFI1 8C<A8E;IF AFI><
Ĺ? Ä Ä&#x2021;Ĺ? Ĺ? Ĺ? Ĺ?Ä&#x201A;Ä&#x20AC;Ä Ä
Ĺ? +. Ĺ? Ä&#x152;Ĺ? =@>8I@ 8CQ8DFI8 <% @J89<C D8>;8C<E8 J8E;FM8C A8I8D@CCF ;<D8E;8;81 J I 8 % I@K8 JLJ8E8 K@G8E Ă&#x2020; I<GI<J<EK8EK< C<>8C ;< C8 <DGI<J8 ;LI8>8J J%8% :8LJ81 GI<J:I@G:@FE
Ä&#x2C6;
< O K I 8 F I ; @ E 8 I @ 8 8;HL@JK@M8 ;< ;FD@E@F KI8D@K<1 FI;@E8I@F :L8EK@81 @E;<K<ID@E8;8 AL<Q1 8Y% <IE<JKF J<II8EF 9FE@CC8 GIF:<JF1 Eif% ')- $)'(( 8LKF ;< :8C@=@:8:@FE1
Ĺ? Ĺ?
Ĺ?
Ĺ? Ĺ?
Ĺ?
Ä&#x2030;
Ĺ? Ä Ä&#x2021;Ĺ? Ĺ? Ĺ? Ĺ?Ä&#x201A;Ä&#x20AC;Ä Ä
Ĺ? +. Ĺ? Ä&#x152;Ĺ?
ALQ>8;F J<>LE;F ;< CF :@M@C ;< JL:LD9@FJ%$ J_lj_l]`e[` )( [\ dXiqf [\c XÂ&#x152;f )'((# cXj ('?,'%$ M@JKFJ1 8mfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ ZXljX \e cf gi`eZ`$ gXc p gfi ZlXekf cX [\dXe[X gifgl\jkX gfi 8C<A8E;IF AFI>< =@>8I@ 8CQ8DFI8 < @J89<C D8>;8C<E8 J8E;FM8C A8I8D@CCF# \j ZcXiX# Zfdgc\kX p i\Â&#x2019;e\ cfj i\hl`j`kfj [\ C\p# j\ cX X[d`k\ X ki}d`k\ [\ al`Z`f FI;@E8I@F# Zfe ]le[Xd\ekf [\ cf [`jgl\j$ kf gfi cfj 8ikj% ,0 p *0, [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c Zf[`]`ZX[f# \e Zfej\Zl\eZ`X Zfe Zfg`X [\ cX [\dXe[X p cX gi\j\ek\ gifm`[\eZ`X ZÂ?iiX$ j\ kiXjcX[f X cX [\dXe[X[X \dgi\jX ;LI8>8J J%8%# \e cX g\ijfeX [\ jl i\gi\j\ekXek\ c\^Xc j\Â&#x152;fiX I@K8 JLJ8E8 K@G8E# X ]`e [\ hl\ [\ekif [\c kÂ&#x201E;id`ef [\ hl`eZ\ [Â&#x2C6;Xj# [\ Zfek\jkXZ`Â?e X cX [\dXe[X p [\[lqZX jlj \oZ\gZ`fe\j# X cXj hl\ j\ Zi\X Xj`jk`[X YXaf Xg\i$ Z`Y`d`\ekf \e i\Y\c[Â&#x2C6;X# [\Y`\e$ [f gXiX \c \]\Zkf p Xk\ekf \c aliXd\ekf i\e[`[f gfi cX gXik\ XZkfiX [\ cX `dgfj`Y`c`[X[ [\ [\k\id`eXi \c [fd`Z`c`f [\ cX [\dXe[X[X# Z`k}ij\cX d\[`Xe$ k\ ki\j glYc`ZXZ`fe\j [\ gi\ejX X i\Xc`qXij\ \e ki\j [Â&#x2C6;Xj [`j$ k`ekfj# \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcXZ`Â?e eXZ`feXc hl\ j\ \[`kXe \e \jkX gifm`e$ Z`X p X e`m\c eXZ`feXc# gXiX kXc \]\Zkf \c J\Zi\kXi`f \cXYfi\ \c \okiXZkf Zfii\jgfe[`\ek\ X cX [\dXe[X[X j\ c\ gi\m`\e\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi ZXj`cc\if al[`Z`Xc gXiX jlj efk`]`ZXZ`fe\j \e \jkX ali`j$ [`ZZ`Â?e# YXaf cXj gi\m\eZ`fe\j [\c 8ik% ., [\c d`jdf :Â?[`^f 8[a\k`mf :`m`c% :lÂ&#x201E;ek\j\ kXd$ Y`Â&#x201E;e Zfe cX [\dXe[X Xc j\Â&#x152;fi J<:I<K8I@F ><E<I8C ;< K@<II8J ;<C D@E@JK<I@F ;< 8>I@:LCKLI8# >8E8;<I@8 P G<J:8# gfi kiXkXij\ [\ le gi\[`f iliXc# [`c`^\eZ`X hl\ j\ Zldgc`i} [`i\ZkXd\ek\ d\[`Xe$ k\ Xk\ekf f]`Z`f [`i`^`[f Xc j\Â&#x152;fi J\Zi\kXi`f >\e\iXc [\ K`\iiXj \e jl [\jgXZ_f gÂ&#x2019;Yc`Zf [\ cX :`l[X[ [\ Hl`kf% @ejZiÂ&#x2C6;YXj\ cX [\dXe[X \e \c I\^`jkif [\ cX Gifg`\[X[ [\ J_lj_l]`e[`# Zfe]fid\ \c dXe[Xkf [\c 8ik% (''' `Y`[\d% @eZfigÂ?i\j\ X cfj Xlkfj cfj [fZld\ekfj X[alekfj1 kÂ&#x201E;e^Xj\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc j\Â&#x152;XcX[f gfi cX gXik\ XZkfiX gXiX jlj efk`]`$ ZXZ`fe\j p cX Xlkfi`qXZ`Â?e Zfe$ ]\i`[X X jl ;\]\ejfi# XjÂ&#x2C6; Zfdf cX ZlXekÂ&#x2C6;X [\ cX [\dXe[X%$ 8ZkÂ&#x2019;\ cX J\Zi\kXi`X <eZXi^X[X j\Â&#x152;fiX C\fefi Fik`q gfi c`Z\e$ Z`X [\c J\Zi\kXi`f K`klcXi [\c ;\jgXZ_f% EFK@=@HL<J<%$ :\ik`]`Zf1 C\fefi Fik`q J<:I<K8I@8 <E:8I>8;8 (,''(0&m] I<Gè9C@:8 ;<C <:L8;FI <OKI8:KF ALQ>8;F ;<:@DF J<OKF ;< CF :@M@C ;< G@:?@E:?8
AL@:@F E % $ - . / $ ) ' ( ' ;< G I < J : I @ G : @ ä E < O K I 8F I ; @ E 8 I @ 8 ; < ;FD@E@F 8:KFI ><I8I;F I8D@IF Q8G8K8 G8: ? <:F p D<I:<;<J A@D<E<Q 9L:?<C@ ALQ;8;F ;<:@DF J<OKF ;< CF :@M@C ;< G@:?@E:?8%$ KXYXZle[f# X (. [\ \e\if [\c )'('# cXj /1?('%$ M`jkfj1 8mfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ ZXljX \e d` ZXc`[X[ [\ Al\q <eZXi^X[f d\[`Xek\ 8ZZ`�e [\ G\ijfeXc# Zfe f]`Z`f E%'',+$;G$;GG [\ ]\Z_X . [\ \e\if [\c )'((%$ Gfi ZlXekf cfj XZkfi\j _Xe [\ZcXiX[f YXaf aliXd\ekf hl\ [\jZfefZ\e \c [fd`Z`c`f [\ cfj [\dXe[X[fj# p \e Zfe]fid`[X[ Xc Xik% /) [\c Z�[`^f [\ GifZ\[`d`\ekf :`m`c%$
CX [\dXe[X j\ ZXc`]`ZX [\ ZcXiX p Zfdgc\kX# \e Zfej\Zl\eZ`X j\ X[d`k\ Xc kiXd`k\ fi[`eX$ i`f% :Â&#x2C6;k\j\ Zfe cX [\dXe[X p \jk\ Xlkf X cfj j\Â&#x152;fi\j Cl`j IXdÂ&#x2C6;i\q ;Â&#x2C6;Xq Klg`qX# DXilaX [\ CX :ilq GlclgX# DXiZ`Â? @YXe ;Â&#x2C6;Xq Klg`qX# DXiÂ&#x2C6;X ?\id`e`X >Xc\Xef :XdgXÂ&#x152;X# AfjÂ&#x201E; @m}e ;Â&#x2C6;Xq Klg`qX# ?`c[X DXiÂ&#x2C6;X Hl`cZX# J\^le[f 8l^ljkf 9fjhl\# DXiÂ&#x2C6;X KiXej`kf Hl`j_g\# J\^le[f 9fcÂ&#x2C6;mXi CX^fj IlÂ&#x2C6;q# DXi`XeX [\ A\jÂ&#x2019;j Klg`qX# CXlif ;Â&#x2C6;Xq Klg`qX# Clq DXiÂ&#x2C6;X ;Â&#x2C6;Xq Klg`qX p DXiÂ&#x2C6;X IfjX ;Â&#x2C6;Xq Klg`qX# X hl`\e\j j\ c\j Z`kXi} d\[`Xek\ Zfd`j`Â?e [`i`^`[X X cX j\Â&#x152;fiX K\e`\ek\ GfcÂ&#x2C6;k`ZX [\ cX gXiifhl`X [\ DXcZ_`e^l`% 8 cfj [\dXe[X[fj :Xicfj 8l^ljkf ?Xif G\Â&#x152;X]`\c# _\i\[\ifj gi\$ jlekfj p [\jZfefZ`[fj [\ AfjÂ&#x201E; DXi`Xef ;Â&#x2C6;Xq p IfjX DXiÂ&#x2C6;X Klg`qX p [\d}j `ek\i\jX[fj j\ cf Z`kXiX gfi d\[`f [\ cX gi\ejX \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcXZ`Â?e [\ cX Z`l[X[ [\ Hl`kf gXiX hl\ gifgfe^Xe cXj \oZ\gZ`fe\j [\ cXj hl\ j\ Zi\Xe Xj`jk`[fj YXaf Xg\iZ`Y`d`\ekf \e i\Y\c[Â&#x2C6;X%$ Gfi kiXkXij\ [\ le `edl\Yc\ hl\ j\i} lY`ZX[f \e cX qfeX iliXc j\ ZfekXiX Zfe \c @ejk`klkf [\ ;\jXiifccf 8^iXi`f @E;8 # f X cX JlYj\Zi\kXi`X [\ K`\iiXj p I\]fidX 8^iXi`X# gXiX cf ZlXc j\ \em`XiX Xk\e$ kf [\gi\ZXkfi`f X lef [\ cfj j\Â&#x152;fi\j Al\Z\j [\ cf :`m`c [\c :XekÂ?e Hl`kf p j\ c\ f]i\Z\ i\Z`gifZ`[X[ \e ZXjfj Xe}cf$ ^fj%$ <e \jk\ gifZ\jf kXdY`Â&#x201E;e j\ ZfekXiX Zfe cX ?fefiXYc\ AlekX [\ ;\]\ejX EXZ`feXc p j\ c\ Z`kXiX gfi d\[`f [\ jl i\gi\j\ekXek\ c\^Xc# \e cXj f]`$ Z`eXj Z\ekiXc\j [\ [`Z_X `ejk`$ klZ`Â?e lY`ZX[Xj \e \c ;`jki`kf D\kifgfc`kXef [\ Hl`kf%$ ;\ Zfe]fid`[X[ Zfe cf gi\m`j$ kf \c 8ik% (''' [\ :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# `ejZiÂ&#x2C6;YXj\ cX [\dXe[X \e \c I\^`jkif [\ cX Gifg`\[X[ [\ \jk\ :XekÂ?e%%% KÂ&#x201E;e^Xj\ \e Zl\ekX cX [\j`^eX$ Z`Â?e [\c [\]\ejfi [\ cfj XZZ`f$ eXek\j p \c ZXj`cc\if al[`Z`Xc gXiX efk`]`ZXZ`fe\j%$ 8ZkÂ&#x2019;\ \c CZ[f% <[lXi[f D`Z_`c\eX Zfdf j\Zi\kXi`f <eZXi^X[f% :Â&#x2C6;k\j\ p Efk`]Â&#x2C6;hl\j\% Cf hl\ Zfdle`Zf X ljk\[\j gXiX cfj ]`e\j [\ C\p# gi\m`e`Â&#x201E;e[fc\j [\ cX fYc`^XZ`Â?e [\ j\Â&#x152;XcXi ZXj`cc\if al[`Z`Xc \e \jkX al[`ZXkliX% KXYXZle[f# (( [\ dXpf [\c )'((% CZ[f% <[lXi[f D`Z_`c\eX M% J<:I<K8I@F <E:8I>8;F <o`jk\ ]`idX p j\ccf% 8%G%&+0(-.&b%d% I<GL9C@:8 ;<C <:L8;FI ALQ>8;F ;<:@DF J<OKF ;< CF :@M@C ;< G@:?@E:?8
:@K8:@äE AL;@:@8C <OKI8:KF :@K8:@äE AL;@:@8C 81 M@;8C :8JK@CCF 8:KFI<J1 :FEPL><J CL:8J :898J>8E>F =<IE8E;<Q P D8I@8 ;<C KI8E:@KF :898J:8E>F% ; < D 8 E ;8 ; F 1 M @ ; 8 C :8JK@CCF :C8J< ;< AL@:@F1 FI;@E8I@F Ef% ((.$)'(( KI8D@K<1 FI;@E8I@F :L8EK@81 @E;<K<ID@E8;8 F9A<KF ;<C AL@:@F1 F 9K < E < I HL< < E J<EK<E:@8 J< :FE:<;8 8 =8MFI ;< CFJ :FEPL><J CL : 8 J :8 98 J :8 E > F =<IE8E;<Q P D8I@8 ;<C KI8E:@KF :898J:8E>F C8 GI<J:I@G:@FE 8;HL@J@K@M8 < O K I 8F I ; @ E 8 I @ 8 ; < ;FD@E@F ;<C @EDL<9C< ;< C8 JLG<I=@:@< ;< ;FJ D@C :@<EKF F:?<EK8 P :@E:F GLEKF F:?<EK8 P LE D<KIFJ :L8;I8;FJ# L9@:8;F <E <C J<:KFI Ă&#x2C6;J8E AL8EĂ&#x2030;# QFE8 ILI8C ;< C8 G8IIFHL@8 KLG@>8:?@#
Ĺ?
:8EKFE G<;IF DFE:8PF# GIFM@E:@8 ;< G@:?@E:?8% AL<Q81 ;iX% 8eX @eki`X^f [\ Jfkf% 8LKF ;< :8C@=@:8:@FE ALQ>8;F ;<:@DF J<OKF ;< CF :@M@C ;< G@:?@E:?8%$ KXYXZle[f# X + [\ XYi`c [\c )'((# cXj ((_''%$ M@JKFJ1 CX [\dXe[X hl\ Xek\Z\[\ hl\ Xek\Z\[\ \j ZcXiX# Zfdgc\kX p i\Â&#x2019;e\ cfj i\hl`j`kfj [\ C\p# gfi cf hl\ j\ c\ X[d`k\ Xc ki}d`k\ Fi[`eXi`f# ZÂ&#x2C6;k\j\ Xc [\dXe[X[f M`[Xc :Xjk`ccf# gfi d\[`f [\ cX gi\ejX \e m`ikl[ [\c aliXd\ekf i\e[`[f Zfe]fid\ \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# gfi J\Zi\kXiÂ&#x2C6;X j\ \eki\^Xi} \c \okiXZkf Zfii\jgfe[`\ek\j% @ejZiÂ&#x2C6;YXj\ cX [\dXe[X \e \c I\^`jkif [\ cX Gifg`\[X[ [\c ZXekÂ?e G\[if DfeZXpf% :Â&#x2C6;k\j\ Xc j\Â&#x152;fi JlYj\Zi\kXi`f [\ K`\iiXj p I\]fidX 8^iXi`X [\e$ kif [\c kÂ&#x201E;id`ef c\^Xc d\[`Xek\ [\gi\ZXkfi`f [`i`^`[f X lef [\ cfj j\Â&#x152;fi\j Al\Z\j [\ cf :`m`c [\ Hl`kf X hl`\e j\ c\ \em`Xi} [\jgXZ_f jl]`Z`\ek\ X hl`\e j\ c\ f]i\Z\ i\Z`gifZ`$ [X[ \e ZXjfj Xe}cf^fj% :Â&#x2C6;k\j\ X cX :fdle`[X[ @e[Â&#x2C6;^\eX [\c j\Zkfi X hl`\e j\ c\ ZfeZ\[X hl`eZ\ [Â&#x2C6;Xj% KÂ&#x201E;e^Xj\ \e Zl\ekX \c [fd`Z`c`f al[`Z`Xc j\Â&#x152;XcX[f gfi cfj XZZ`feXek\j# cX [\j`^$ eXZ`Â?e p Xlkfi`qXZ`Â?e Zfe]\$ i`[X X jl 8Yf^X[f ;\]\ejfi% EFK@=@HL<J<%$ = ;iX% 8eX @eki`X^f [\ Jfkf% Al\qX ;Â&#x201E;Z`df J\okf [\ cf :`m`c [\ G`Z_`eZ_X Cf hl\ :@KF X L[%# gXiX cfj ]`e\j c\^Xc\j Zfej`^l`\ek\j# gi\m`e`Â&#x201E;e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi ZXj`cc\if al[`Z`Xc gXiX i\Z`Y`i jlj efk`$ ]`ZXZ`fe\j \e \jk\ gifZ\jf p [\ekif [\c g\iÂ&#x2C6;d\kif c\^Xc [\ \jkX al[`ZXkliX% KXYXZle[f# '* [\ DXpf [\c )'((% :\ik`]`Zf% CZ[f% <[lXi[f D`Z_`c\eX M% J<:I<K8I@F <E:8I>8;F ?Xp ]`idX p j\ccf 8:&.0-',&k] I% [\c <% ALQ>8;F ;<:@DF GI@D<IF ;< CF :@M@C ;< G@:?@E:?8
:@K8:@FE AL;@:@8C G8I8 ;<D8E;8;FJ J<zFI<J BC<M<I FJN8C;F IFD8E :?@:F P CLQ 8C@:@8 E@Q8 KF8G8EK8 < O K I 8 : K F AL@:@F1 F I ; @ E 8 I @ F ;< G I < J : I @ G : @ F E < O K I 8 F I ; @ E 8 I @ 8 8;HL@J@K@M8 ;< ;FD@E@F EIF% (++'$)''0$;I% :%D%# 8:KFI<J1 M@:KFI 8C=FEJF >LJHL@ >LJHL@ P D8I@8 D8EL<C8 :?@ECC< >L8PE8 ;<D8E;8;FJ1 BC<M<I FJN8C;F IFD8E :?@:F P CLQ 8C@:@8 E@Q8 KF8G8EK8 F 9 A < KF 1 ; < : C 8 I 8 I C8 G I < J : I @ G : @ F E < O K I 8F I ; @ E 8 I @ 8 ; < ;FD@E@F $ HL< J< ?8CC8E <E GFJ<J@äE G8:@=@:8# KI8EHL@C8 < @E@EK<IILDG@;8# :FE <C 8E@DF ;< J<zFI<J P ;L<zFJ ;<J;< <C D<J ;< D8IQF ;< (00) ?8:< D8J ;< (. 8zFJ 8GIFO@D8;8D<EK< ;< LE CFK< ;< K<II<EF J@>E8;F :FE <C EIF% ()( ;< C8 LI98E@Q8:@FE F 98II@F 8@;8 C<FE ;< IF;I@>L<Q C8I8# L9@:8;F <E C8 G8IIFHL@8 <CFP 8C=8IF# :8EKFE HL@KF# GIFM@E:@8 ;< G@:?@E:?8# :@I:LEJ:I@KF ;<EKIF ;< CFJ C@E;<IFJ P ;@D<EJ@FE<J HL< J< ;<K8CC8E 8 :FEK@EL8:@FE1 GFI <C EFIK< (- D<KIFJ -, :<EK@D<KIFJ# GIFG@<;8; G8IK@:LC8I ;<C J<zFI A8M@<I :LQ:F G8L:8I GFI <C JLI1 (- D<KIFJ */ :<EK@D<KIFJ :FE GIFG@<;8; G8IK@:LC8I ;< ?<I<;<IFJ 8LC<JK@8 M@M8J2 GFI <C <JK<1 (( D<KIFJ ., :<EK@D<KIFJ# GIFG@<;8; G8IK@:LC8I ;< C8 J<zFI8 =89@FC8 G<I<Q2 P% GFI <C F<JK< (( D<KIFJ 0, :<EK@D<KIFJ# :FE GIFG@<;8; G8IK@:LC8I ;<C J<zFI D8EL<C G<I<Q <E G8IK< P <E FKI8 :FE G8J8A< :FE LE8 JLG<I=@:@<
IÂ&#x152;be W \k[hpW Z[ \Wleh[i i[ Yedgk_ijW W bei [ifÂ&#x2021;h_jki c[pgk_dei" W bei YehWped[i ][d[heiei i[ b[i ]WdW Yed [b W\[Yje$ @;DE<EDJ; :; 7J;D7I KFK8C P 8GIFO@D8;8 ;<C CFK< ;< K<II<EF <J ;< (0,#.' D<KIFJ :L8;I8;FJ KI8D@K<1 FI;@E8I@F :L8EK@8 @E;<K<ID@E8;8 :8J@CC<IF AL;@:@8C EIF% *(0) G<IK<E<:@<EK< 8C ;I% =<IE8E;F G<I<Q GIFM@;<E:@81 ALQ>8;F ;<:@DF GI@D<IF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# al\m\j )) [\ alc`f [\c )'('# cXj ('_(,%$ M@JKFJ1 8mfZf ZfefZ`d`\ekf [\ cX gi\$ j\ek\ ZXljX \e m`ikl[ [\c jfi$ k\f i\Xc`qX[f \e cX i\jg\Zk`mX f]`Z`eX [\ Jfik\fj p \e ZXc`[X[ [\ Al\q Jlgc\ek\ d\[`Xek\ F]`Z`f Eif% '()$;;G$A8I [\c )+&'(&)'',%$ <e cf gi`eZ`gXc cX [\dXe[X hl\ Xek\Z\[\ \j ZcXiX# gi\Z`jX p i\Â&#x2019;e\ cfj i\hl`$ j`kfj c\^Xc\j gfi cf hl\ j\ cX X[d`k\ X ki}d`k\ Fi[`eXi`f%$ <e Zfej\Zl\eZ`X p \e dÂ&#x201E;i`kf [\c aliXd\ekf i\e[`[f gfi cfj 8Zkfi\j MÂ&#x2C6;Zkfi 8c]fejf >ljhl` >ljhl` p DXiÂ&#x2C6;X DXel\cX :_`ecc\ >lXpeX jfYi\ cX `dgf$ j`Y`c`[X[ [\ [\k\id`eXi cX `e[`$ m`[lXc`[X[ f i\j`[\eZ`X [\ cfj [\dXe[X[fj j\Â&#x152;fi\j BC<M<I FJN8C;F I8DFE :?@:F p CLQ 8C@:@8 E@Q8 KF8G8EK8# ZÂ&#x2C6;k\j\ Zfe \c Zfek\e`[f [\ cX [\dXe[X p Xlkf hl\ Xek\Z\[\ X cfj ;\dXe[X[fj BC<M<I FJN8C;F I8DFE :?@:F P CLQ 8C@:@8 E@Q8 KF8G8EK8# gfi cX gi\ejX \e lef [\ cfj [`Xi`f [\ dXpfi Z`iZlcXZ`Â?e [\ \jkX Z`l[X[ [\ Hl`kf# Gifm`eZ`X [\ G`Z_`eZ_X# [\ Zfe]fid`[X[ Zfe cf [`jgl\jkf \e \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# X ]`e [\ hl\ [\ekif [\c kÂ&#x201E;id`ef c\^Xc [\ hl`eZ\ [Â&#x2C6;Xj Zfek\jk\e gifgfe`\e[f kf[Xj p ZX[X leX [\ cXj \oZ\gZ`fe\j [`cXkfi`Xj p g\i\ekfi`Xj [\ cXj hl\ j\ Zi\Xe Xj`jk`[fj%$ :lÂ&#x201E;ek\j\ \e cX gi\j\ek\ ZXljX Zfe cfj G\ijfe\ifj Dle`Z`gXc\j [\c ;`jki`kf D\kifgfc`kXef [\ Hl`kf# X hl`\e\j j\ cfj Z`kXiX \e jlj i\jg\Zk`mXj f]`Z`eXj%$ ;\ Zfe]fid`[X[ Zfe cf [`jgl\jkf \e \c 8ik% (''' [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c `ejZiÂ&#x2C6;YX$ j\ cX gi\j\ek\ [\dXe[X \e \c I\^`jkif [\ cX Gifg`\[X[ [\ \jk\ ZXekÂ?e Hl`kf%$ 8^iÂ&#x201E;^l\ej\ X cfj Xlkfj cfj [fZld\ekfj X[alekfj%$ KÂ?d\j\ \e Zl\ekX cX ZlXekÂ&#x2C6;X p \c ZXj`cc\if al[`Z`Xc j\Â&#x152;XcX[f gfi cfj 8Zkfi\j gXiX gfjk\i`fi\j efk`]`ZXZ`fe\j%$ :@K<J< P EFK@=@HL<J<% = ;i% I\peXc[f =cfi 8cmXiX[f% Al\q j`^l\ cX efk`]`ZXZ`Â?e Cf hl\ cc\mf X jl ZfefZ`$ d`\ekf gXiX cfj ]`e\j [\ C\p% Gi\m`e`Â&#x201E;e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi ZXj`cc\if al[`Z`Xc gXiX jlj efk`]`ZXZ`fe\j gfjk\i`fi\j% :\ik`]`Zf% AlXeX :\mXccfj >% J<:I<K8I@F ?Xp ]`idX p j\ccf 8:&.0-(-&k] ALQ>8;F M@><J@DF :L8IKF ;< CF :@M@C ;< G@:?@E:?8 :@K8:@äE AL;@:@8C
8C J<zFI :8ICFJ =<IE8E;F P<G<Q J8E;FM8C# ;<C AL@:@F F I ; @ E 8 I @ F ;< G I < J : I @ G : @ F E < O K I 8 F I ; @ E 8 I @ 8 8;HL@J@K@M8 ;< ;FD@E@F GIFGL<JKF <E JL :FEKI8 GFI <C J<zFI >L@CC<IDF =<IE8E;F >L<II<IF M<>8% 8 : KF I 1 > L @ C C < I D F =<IE8E;F >L<II<IF M<>8% ;<D8E;8;F1 :8ICFJ =<IE8E;F P < G < Q J8E;FM8C AL@:@F Ef% (*+,$('$I>: KI8D@K<1 Fi[`eXi`f :L8EK@81 @E;<K<ID@E8;8 =<:?8 ;< @E@:@8:@äE1 )( ;< F:KL9I< ;<C )'('%
GIFM@;<E:@81 ALQ>8;F M@><J@DF :L8IKF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# al\m\j )( [\ FZklYi\ [\c )'('# cXj (,_'.%$ M@JKFJ1 8mfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ ZXljX \e m`ikl[ [\c jfik\f i\Xc`qX[f%$ <e cf gi`eZ`$ gXc# cX [\dXe[X hl\ Xek\Z\[\ \j ZcXiX# Zfdgc\kX p i\Â&#x2019;e\ cfj [\d}j i\hl`j`kfj [\ c\p2 gfi cf hl\ j\ cX XZ\gkX X ki}d`k\ fi[`eXi`f%$ <e Zfej\Zl\eZ`X# Zfe cX [\dXe[X p Xlkf i\ZXÂ&#x2C6;[f ZÂ&#x17D;iiXj\ kiXjcX[f Xc [\dXe[X$ [f j\Â&#x152;fi :8ICFJ =<IE8E;F P<G<Q J8E;FM8C%$ @ejZiÂ&#x2C6;YXj\ cX [\dXe[X \e \c I\^`jkif [\ cX Gifg`\[X[%$ <e dÂ&#x201E;i`kf Xc aliXd\ekf i\e[`[f gfi cX gXik\ XZkfiX# [\ Zfe]fid`[X[ Zfe cf gi\m`jkf \e \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c ZÂ&#x2C6;k\j\ Xc [\dXe[X[f :8ICFJ =<IE8E;F P<G<Q J8E;FM8C# gfi cX gi\ejX \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcXZ`Â?e [\ \jkX Z`l[X[ [\ Hl`kf%$ :lÂ&#x201E;ek\j\ \e cX gi\$ j\ek\ ZXljX Zfe \c 8cZXc[\ p GifZliX[fi JÂ&#x2030;e[`Zf Dle`Z`gXc [\c ;`jki`kf D\kifgfc`kXef [\ Hl`kf%$ KÂ&#x2026;e^Xj\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc j\Â&#x152;XcX[f%$ 8^iÂ&#x201E;^l\j\ cX [fZld\ekXZ`Â?e XZfdgXÂ&#x152;X[X%$ Efk`]Â&#x2C6;hl\j\% = ;iX% DÂ?e`ZX =cfi GXqd`Â&#x152;f% Al\qX FKI8 GIFM@;<E:@81 GIFM@;<E:@81 ALQ>8;F M@><J@DF :L8IKF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# d`Â&#x201E;iZfc\j 0 [\ dXiqf [\c )'((# cXj ('_)0%$ M@JKFJ1 8mfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ ZXljX \e m`ikl[ [\c jfik\f i\Xc`qX[f%$ <e cf gi`e$ Z`gXc# gfi Zldgc`[fj cfj i\hl`$ j`kfj [\c 8ik% -. [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# j\ [`jgfe\ hl\# cX i\]fidX X cX [\dXe[X \j ZcXiX# Zfdgc\kX p i\Â&#x2019;e\ cfj i\hl`j`kfj [\ c\p# gfi cf hl\ j\ cf XZ\gkX Xc ki}d`k\ fi[`eXi`f%$ <e Zfej\Zl\eZ`X# Zfe cX [\dXe$ [X# ZXc`]`ZXZ`Â?e [\ cX [\dXe[X# i\]fidX p Xlkf i\ZXÂ&#x2C6;[f ZÂ&#x17D;iiXj\ kiXjcX[f Xc [\dXe[X[f j\Â&#x152;fi :8ICFJ =<IE8E;F P<G<Q
J8E;FM8C%$ @ejZiÂ&#x2C6;YXj\ cX i\]fidX X cX [\dXe[X \e \c I\^`jkif [\ cX Gifg`\[X[%$ <e dÂ&#x201E;i`kf Xc aliXd\ekf i\e[`[f gfi cX gXik\ XZkfiX# [\ Zfe]fid`[X[ Zfe cf gi\m`jkf \e \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c ZÂ&#x2C6;k\j\ Xc [\dXe[X[f :8ICFJ =<IE8E;F P<G<Q J8E;FM8C# gfi cX gi\ejX \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcXZ`Â?e [\ \jkX Z`l[X[ [\ Hl`kf%$ :lÂ&#x201E;ek\j\ \e cX gi\$ j\ek\ ZXljX Zfe \c 8cZXc[\ p GifZliX[fi JÂ&#x2030;e[`Zf Dle`Z`gXc [\c ;`jki`kf D\kifgfc`kXef [\ Hl`kf%$ KÂ&#x2026;e^Xj\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc j\Â&#x152;XcX[f%$ 8^iÂ&#x201E;^l\j\ cX [fZld\ekXZ`Â?e XZfdgXÂ&#x152;X[X%$ Efk`]Â&#x2C6;hl\j\% = ;iX% DÂ?e`ZX =cfi GXqd`Â&#x152;f% Al\qX% Cf hl\ Zfdle`Zf X ljk\[ gXiX cfj ]`e\j [\ C\p# gi\m`e`Â&#x201E;e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi ZXj`cc\if al[`Z`Xc \e \jkX Z`l[X[ [\ Hl`kf gXiX gfj$ k\i`fi\j efk`]`ZXZ`fe\j% 8Y% DXi`f CXjjf Fik\^X% J<:I<K8I@F ;<C ALQ>8;F M@><J@DF :L8IKF ;< CF :@M@C ;< G@:?@E:?8 ?Xp ]`idX p j\ccf 8:&.0-(0&k] ALQ>8;F ;<:@DF ;< CF :@M@C ;< G@:?@E:?8 :@K8:@äE AL;@:@8C
8# j\Â&#x152;fi\j 8eX Cl`jX =\ie}e[\q >XccXi[f m`l[X [\ JfjX X jlj _`afj p e`\kfj \e ZXc`[X[ [\ ?\i\[\ifj j\Â&#x152;fi\j DXiZf <ie\jkf =iXebc`e DXiZ`X >l`cc\id`eX :Xicfj DXel\c # K\i\jX DXi`X [\c :Xid\e # DXiÂ&#x2C6;X @eÂ&#x201E;j ;\c G`cXi JfjX =\ie}e[\q # XjÂ&#x2C6; Zfdf jlj e`\kfj hl\ gfi i\gi\j\ekXZ`Â?e [\ jl dX[i\ hl`\e \e m`[X ]l\ j\Â&#x152;fiX DXiÂ&#x2C6;X Cl`jX =\ie}e[\q JfjX # ;\ cfj j\Â&#x152;fi\j G\[if ;XdXjf BXi`eX :feZ\gZ`Â?e # A\eep ;feXc \ @[`iX 8^e\j Le[X JfjX p jlj fkifj e`\kfj [\ hl`\e \e m`[X ]l\ j\Â&#x152;fiX E\ccp DXi`X ;\ Cfli[\j JfjX =\ie}e[\q # cfj j\Â&#x152;fi\j :Xicfj ;\c]Â&#x2C6;e A}Zfd\ JfjX # M\iÂ?e`ZX <c`qXY\k_ Ef^Xc\j JfjX p NXj_`e^kfe 8cY\ikf Ef^Xc\j JfjX $ j\ c\j _XZ\ ZfefZ\i \c <OKI8:KF# [\ [\dXe[X 'I;@E8I@8 p cX gifm`[\eZ`X hl\ X Zfek`elXZ`Â?e j`^l\e1 <OKI8:KF1 8:KFI1 DXi`Xe`kX [\ Cfli[\j :ilq >lXefcl`jX 8JLEKF Hl\ gi\m`f \c ki}d`k\ g\ik`e\ek\# \e j\ek\eZ`X j\ c\ [\ZcXi\ X jl ]Xmfi CX Gi\jZi`gZ`Â?e
REPUBLICA DEL ECUADOR SUPERINTENDENCIA DE COMPAĂ&#x2018;IAS
EXTRACTO CONSTITUCIĂ&#x201C;N DE LA COMPAĂ&#x2018;Ă?A MACUNA CIA. LTDA. La compaĂąĂa MACUNA CIA. LTDA. se constituyĂł por escritura pĂşblica otorgada ante el Notario Primero del Distrito Metropolitano de Quito, el 08 de Abril de 2011, fue aprobada por la Superintendencia de CompaĂąĂas, mediante ResoluciĂłn SC.IJ.DJC. Q.11.002059 de 12 de Mayo de 2011. 1.- DOMICILIO: Distrito Metropolitano de Quito, provincia de Pichincha.
<okiXfi[`eXi`X 8[hl`j`k`mX [\ ;fd`e`f# jfYi\ \c k\ii\ef lY`ZX[f \e :fefZfkf [\ \jk\ :XekÂ?e KI8D@K<1 Fi[`eXi`f%$ :L8EK@8%$ @e[\k\id`eX[X%$ =<:?8 ;< @E@:@8:@äE1 (+ [\ dXpf [\c )'('%$ ;<=<EJFI1 ;i% =cXm`f @jdX\c :XY\qXj GXi\[\j AL@:@F FI;@E8I@F Ef% -*.$(';C% GIFM@;<E:@81 ALQ>8;F ;<:@DF ;< CF :@M@C ;< G@:?@E:?8% HL@KF# (( [\ 89I@C [\c )'((# cXj (*_,.% M@JKFJ $ Gi\m`f jfik\f [\ c\p Zfii\jgfe[`\ek\# XmfZf Zfef$ Z`d`\ekf [\ cX gi\j\ek\ ZXljX \e d` ZXc`[X[ [\ al\q k`klcXi [\ \jkX al[`ZXkliX%$ <e cf gi`e$ Z`gXc# cX i\]fidX X cX [\dXe[X hl\ Xek\Z\[\ \j ZcXiX p i\Â&#x2019;e\ cfj i\hl`j`kfj [\ C\p# gfi cf hl\ [\ZcXi}e[fj\cX gifZ\$ [\ek\ j\ cX XZ\gkX Xc kiXd`k\ Fi[`eXi`f%$ <e Zfej\Zl\eZ`X Zfe \c Zfek\e`[f [\ cX d`jdX p \jk\ Xlkf ZÂ?iiXj\ kiXjcX[f X cfj [\dXe[X[fj2 gfi \c kÂ&#x201E;id`$ ef [\ hl`eZ\ [Â&#x2C6;Xj Zfe Xg\iZ`$ Y`d`\ekf [\ i\Y\c[Â&#x2C6;X [\jglÂ&#x201E;j [\ c\^Xcd\ek\ Z`kX[fj%$ <e d\i`kf Xc aliXd\ekf hl\ k`\e\ i\e[`[f \c XZkfi p [\ Zfe]fi$ d`[X[ Zfe cf hl\ [`jgfe\ \c 8ik% /) P /* [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c ZÂ&#x2C6;k\j\ X cfj [\dXe[X[fj j\Â&#x152;fi\j 8eX Cl`jX =\ie}e[\q >XccXi[f m`l[X [\ JfjX X jlj _`afj p e`\kfj \e ZXc`[X[ [\ ?\i\[\ifj j\Â&#x152;fi\j DXiZf <ie\jkf =iXebc`e DXiZ`X >l`cc\id`eX :Xicfj DXel\c # K\i\jX DXi`X [\c :Xid\e # DXi`X @eÂ&#x201E;j ;\c G`cXi JfjX =\ie}e[\q # XjÂ&#x2C6; Zfdf jlj e`\$ kfj hl\ gfi i\gi\j\ekXZ`Â?e [\ jl dX[i\ hl`\e \e m`[X ]l\ j\Â&#x152;fiX DXi`X Cl`jX =\ie}e[\q JfjX # ;\ cfj j\Â&#x152;fi\j G\[if ;XdXjf BXi`eX :feZ\gZ`Â?e # A\eep ;feXc \ @[`iX 8^e\j Le[X JfjX p jlj fkifj e`\kfj [\ hl`\e \e m`[X ]l\ j\Â&#x152;fiX ]l\ J\Â&#x152;fiX E\ccp DXi`X ;\ Cfli[\j JfjX =\ie}e[\q # cfj j\Â&#x152;fi\j :Xicfj ;\c]Â&#x2C6;e A}Zfd\ JfjX # M\iÂ?e`ZX <c`qXY\k_ Ef^Xc\j JfjX p NXj_`e^kfe 8cY\ikf Ef^Xc\j JfjX $ :lÂ&#x201E;ek\j\ Zfe cfj g\i$
jfe\ifj [\c Dle`Z`g`f ;`jki`kf D\kifgfc`kXef [\ Hl`kf \e cXj g\ijfeXj [\c j\Â&#x152;fi 8cZXc[\ p GifZliX[fi%$ @ejZiÂ&#x2C6;YXj\ cX [\dXe[X \e \c I\^`jkif [\ cX Gifg`\[X[ [\c :XekÂ?e Hl`kf# gXiX \c \]\Zkf i\dÂ&#x2C6;kXj\ Xk\ekf f]`Z`f%$ 8^iÂ&#x201E;^l\j\ Xc gifZ\jf cfj [fZld\ekfj XZfdgXÂ&#x152;X$ [fj X cX [\dXe[X%$ KÂ&#x201E;e^Xj\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc j\Â&#x152;XcX[f gXiX jlj efk`]`ZXZ`f$ e\j XjÂ&#x2C6; Zfdf cX [\j`^eXZ`Â?e [\ jl XYf^X[f [\]\ejfi%$ :Â&#x2C6;k\j\ p Efk`]Â&#x2C6;hl\j\%$] ;i%$ AfjÂ&#x201E; DXikÂ&#x2C6;e\q EXiXeaf Al\q CF HL< CC<MF 8 JL :FEF:@D@<EKF P C< :@KF GI<M@E@yE;FC< ;< C8 F9C@>8:@äE ;< J<z8C8I :8 J @ C C < IF A L ; @ : @ 8 C G8 I 8 G F J K < I @ F I < J EFK@=@:8:@FE<J% ;i% <[^Xi ?Xif MXc\eql\cX J<:I<K8I@F ?Xp ]`idX p j\ccf 8:&.0-*0&k] I<GL9C@:8 ;<C <:L8;FI ALQ>8;F GI@D<IF ;< CF :@M@C ;< G@:?@E:?8
:@K8:@äE AL;@:@8C 8 C8J G<IJFE8J HL< GL<;8E K<E<I ;<I<:?F JF9I< <C @EDL<9C< ;< C8 :FFG<I8K@M8 ;< ?L<IKFJ =8D@C@8I<J ?FJG@K8C D@C@K8I% <OKI8:KF 8:KFI81 CLQ <CJ8 D8I@E8 EFIFz8 M@CC8D8I@E ;<D8E;8;FJ1 <;>8I >8CF D<;@E8 E8IM8<Q# ?@C;8 C<K@:@8 <J:F98I =I<@I<# G<;IF G89CF E8IM8<Q 8JKL;@CCF p >C8;PJ D8Ià 8 >L<M8I8# D`\dYifj [\ cX :fd`j`�e C`hl`[X[fiX [\ cX :ffg\iXk`mX [\ ?l\ikfj =Xd`c`Xi\j ?fjg`kXc D`c`kXi# p g\ijfeXj hl\ gl\[Xe k\e\i [\i\Z_f jfYi\ [`Z_f `edl\$ Yc\% :L8EK@8 LJ; +,%'''#'' KI8D@K<1 FI;@E8I@F Ef% -()$)'(' D% >fi[�e :% :8J@CC8 AL;@:@8C Ef% *() ;<=<EJFI1 ;I% E<IMF
REPUBLICA DEL ECUADOR SUPERINTENDENCIA DE COMPAĂ&#x2018;IAS
EXTRACTO CONSTITUCION DE LA COMPAĂ&#x2018;Ă?A SANCHEZ CARDENAS SERVICIOS Y CONEXOS CIA. LTDA. La compaĂąĂa SANCHEZ CARDENAS SERVICIOS Y CONEXOS CIA. LTDA. se constituyĂł por escritura pĂşblica otorgada ante el Notario TrigĂŠsimo Primero del Distrito Metropolitano de Quito, el 21 de Marzo de 2011, fue aprobada por la Superintendencia de CompaĂąĂas, mediante ResoluciĂłn SC.IJ.DJC.Q.11.002068 de 12 de Mayo de 2011. 1.- DOMICILIO: Distrito Metropolitano de Quito, provincia de PICHINCHA. 2.- CAPITAL: Suscrito US$ 400,00 NĂşmero de Participaciones 400 Valor US$ 1,00
3.- OBJETO: El objeto de la compaĂąĂa es: A) LA COMERCIALIZACIĂ&#x201C;N, COMPRA, VENTA, DISTRIBUCIĂ&#x201C;N E IMPORTACIĂ&#x201C;N DE TODO TIPO DE VACUNAS PARA USO VETERINARIO...
3.- OBJETO: El objeto de la compaĂąĂa es: BRINDAR CAPACITACIĂ&#x201C;N, CONSULTORĂ?A, ASESORAMIENTO ESPECIALIZACO, A LA EMPRESA PRIVADA Y PUBLICA, DENTRO O FUERA DEL PAĂ?S A TRAVĂ&#x2030;S DE UN EQUIPO MULTIDISCIPLINARIO;....
Quito, 12 de Mayo de 2011.
Quito, 12 de Mayo de 2011.
2.- CAPITAL: Suscrito US$ 800,00 NĂşmero de Participaciones 800 Valor US$ 1,00
Dr. Oswaldo Noboa LeĂłn DIRECTOR JURĂ?DICO DE COMPAĂ&#x2018;Ă?AS AR/82914/cc
Dr. OswaIdo Noboa LeĂłn DIRECTOR JURIDICO COMPAĂ&#x2018;Ă?AS AC/79632/tf
:<M8CCFJ =<:?8 ;< @E@:@F1 (' ;< D8PF ;<C )'('% F9A<KF1 GI<J:I@G:@FE < O K I 8 F I ; @ E 8 I @ 8 8;HL@J@K@M8 ;< ;FD@E@F ;<C CFK< ;< K<II<EF Ef% )') J@KL8;F <E C8 G8IIFHL@8 ;< :FEF:FKF% GIFM@;<E:@81 ALQ>8;F GI@D<IF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# al\m\j ). [\ dXpf [\c )'('# cXj (,_(+%$ M@JKFJ1 CX [\dXe[X hl\ Xek\Z\[\# \j ZcXiX# gi\$ Z`jX p i\Â&#x2019;e\ cfj i\hl`j`kfj [\ C\p# \e Zfej\Zl\eZ`X j\ cX X[d`k\ Xc ki}d`k\ fi[`eXi`f%$ :fe jl Zfek\e`[f p gi\j\ek\ gifm`[\eZ`X j\ Zfii\ kiXjcX$ [f X1 <;>8I >8CF D<;@E8 E8IM8<Q# ?@C;8 C<K@:@8 <J:F98I =I<@I<# G<;IF G89CF E8IM8<Q 8JKL;@CCF p >C8;PJ D8IĂ 8 >L<M8I8 \e jlj ZXc`[X[\j [\ D`\dYifj [\ cX :fd`j`Â?e C`hl`[X[fiX [\ cX :ffg\iXk`mX [\ ?l\ikfj =Xd`c`Xi\j ?fjg`kXc D`c`kXi gfi \c kÂ&#x201E;id`ef [\ hl`eZ\ [Â&#x2C6;Xj YXaf Xg\iZ`Y`d`\ekf \e i\Y\c[Â&#x2C6;X%$ @ejZiÂ&#x2C6;YXj\ cX [\dXe[X \e \c I\^`jkif [\ cX Gifg`\[X[ [\c ZXekÂ?e Hl`kf%$ :Ă K<J< X cfj gi\efdYiX[fj ;\dXe[X[fj \e \c cl^Xi `e[`ZX[f2 p# X cXj g\i$ jfeXj hl\ gl\[Xe _XY\i k\e`[f [\i\Z_f jfYi\ \c `edl\Yc\ gfi cX gi\ejX [\ Zfe]fid`[X[ Xc 8ik%
/) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# d\[`Xek\ glYc`ZXZ`fe\j \e le g\i`Â?[`Zf [\ Z`iZlcXZ`Â?e eXZ`feXc%$ :lÂ&#x201E;ek\j\ \e cX gi\$ j\ek\ ZXljX Zfe cfj g\ijfe\$ ifj [\c Dle`Z`g`f [\c ;`jki`kf D\kifgfc`kXef [\ Hl`kf# X hl`\$ e\j j\ c\j Z`kXi} \e jlj [\jgX$ Z_fj%$ EFK@=@HL<J<% ;I% 8C=I<;F >I@A8CM8 DLzFQ% AL<Q% Cf hl\ gfe^f \e ZfefZ`d`\e$ kf Xc gÂ&#x2019;Yc`Zf \e ^\e\iXc# gXiX cfj ]`e\j c\^Xc\j Zfii\jgfe$ [`\ek\j% ;i% GXYcf Kfif :Xii`ccf J<:I<K8I@F ?Xp ]`idX p j\ccf 8:&.0-)'&k] I<GL9C@:8 ;<C <:L8;FI ALQ>8;F J<>LE;F ;< CF :@M@C ;< G@:?@E:?8
:@K8:@äE AL;@:@8C :`kXj\ Zfe \c j`^l`\ek\ \okiXZ$ kf [\ cX [\dXe[X [\ [`mfiZ`f X1 J<>LE;F I8=8<C @EK< D8CC@>L@E>8% :lpf k\efi \j \c j`^l`\ek\1 8:KFI1 D8I@8 D8IK@E8 G8L:8I :8A@C<D8 ;<D8E;8;F1 J<>LE;F I8=8<C @EK< D8CC@>L@E>8 :C8J< ;< AL@:@F1 ;@MFI:@F Ef% )0- $ )'((%=M KI8D@K<1 M<I98C JLD8I@F :L8EK@81 @E;<K<ID@E8;8 F9A<KF ;< C8 ;<D8E;81 ;@JFCM<I <C M@E:LCF
D8KI@DFE@8C ALQ>8;F J<>LE;F ;< CF :@M@C ;< G@:?@E:?8 HL@KF# '. [\ XYi`c [\c )'((# cXj (,_(*% M@JKFJ1 8mfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ ZXljX \e ZXc`$ [X[ [\ Al\q \eZXi^X[f [\c Alq^X[f J\^le[f [\ cf :`m`c [\ G`Z_`eZ_X \e m`ikl[ [\c f]`Z`f Ef% (*'/$;G$;GG# [\ ]\Z_X . [\ Alc`f [\c )'('%$ CX [\dXe[X [\ [`mfiZ`f gi\j\e$ kX[X gfi D8I@8 D8IK@E8 G8L:8I :8A@C<D8 \e ZfekiX [\ J<>LE;F I8=8<C @EK< D8CC@>L@E>8# \j ZcXiX# gi\Z`$ jX p i\Â&#x2019;e\ cfj i\hl`j`kfj c\^Xc\j \e Zfej\Zl\eZ`X j\ cX XZ\gkX X kiXd`k\ Zfii\jgfe[`\ek\ X cX mÂ&#x2C6;X M\iYXc JldXi`X gi\m`j$ kX \e cX j\ZZ`Â?e )*% 8ik%/)/ p j`^l`\ek\j [\c :Â?[`^f ;\ GifZ\[`d`\ekf :`m`c% 8k\ekX cX Xj\m\iXZ`Â?e aliXd\ekX[X [\c XZZ`feXek\ i\jg\Zkf [\ cX `dgfj`Y`c`[X[ [\ [\k\id`eXi cX `e[`m`[lXc`[X[ f i\j`[\e$ Z`X [\c [\dXe[X[f# :Â&#x2C6;k\j\ X J<>LE;F I8=8<C @EK< D8CC@>L@E>8# Zfe le \okiXZ$ kf [\ cX [\dXe[X p \jkX gif$ m`[\eZ`X gfi cX gi\ejX \e lef [\ cfj g\i`Â?[`Zfj [\ dXpfi Z`i$ ZlcXZ`Â?e hl\ j\ \[`kXe \e \jkX Z`l[X[ [\ Hl`kf% 8^iÂ&#x201E;^l\j\ Xc gifZ\jf cX [fZld\ekXZ`Â?e gi\j\ekX[X% KÂ&#x201E;e^Xj\ \e Zl\ekX \c ZXj`cc\if j\Â&#x152;XcX[f p cX Xlkfi`$ qXZ`Â?e fkfi^X[X X jl 8Yf^X[f
REPUBLICA DEL ECUADOR SUPERINTENDENCIA DE COMPAĂ&#x2018;IAS
EXTRACTO DE LA ESCRITURA PUBLICA DE CAMBIO DE NOMBRE DE MONYSERVICIOS S.A. POR EL DE YAPSERVICIOS S.A. Y REFORMA DE ESTATUTOS 1. ANTECEDENTES: MONYSERVICIOS S.A. se constituyĂł mediante escritura pĂşblica otorgada ante el Notario VigĂŠsimo Cuarto del Distrito Metropolitano de Quito, el 28/6/2010, aprobada mediante ResoluciĂłn No. 2890 de 15/7/2010, e inscrita en el Registro Mercantil del Distrito Metropolitano de Quito el 29/7/2010. 2. CELEBRACIĂ&#x201C;N Y APROBACIĂ&#x201C;N.- La escritura pĂşblica de cambio de nombre de MONYSERVICIOS S.A. por el de YAPSERVICIOS S.A. y reforma de estatutos otorgada el 13 de Abril deI 2011 ante el Notario VigĂŠsimo Cuarto del Distrito Metropolitano de Quito, actos societarios aprobados por la Superintendencia de CompaĂąĂas, mediante ResoluciĂłn No. SC.IJ.DJC.Q.11.002038 de 11 de mayo de 2011. 3. OTORGANTE.- Comparece al otorgamiento de la escritura pĂşblica antes mencionada, el SeĂąor MORALES ALMEIDA JULIO JAVIER en su calidad de gerente general de la compaĂąĂa, de estado civil casado, de nacionalidad ecuatoriana y domiciliado en el Distrito Metropolitano de Quito. 4. CAMBIO DE NOMBRE, REFORMA DE ESTATUTOS Y PUBLICACIĂ&#x201C;N.La Superintendencia de CompaĂąĂas mediante ResoluciĂłn No. SC.IJ.DJC. Q.11.002038 de 11 de mayo de 2011 aprobĂł el cambio de nombre de MONYSERVICIOS S.A. por el de YAPSERVICIOS S.A., la reforma de estatutos y ordenĂł la publicaciĂłn del extracto de la referida escritura pĂşblica, por tres dĂas consecutivos, para efectos de oposiciĂłn de terceros respecto al cambio de nombre referido, seĂąalado en el Art. 33 de la Ley de CompaĂąĂas y Reglamento de OposiciĂłn, como acto previo a su inscripciĂłn. 5. AVISO PARA OPOSICIĂ&#x201C;N.- Se pone en conocimiento del pĂşblico el cambio de nombre de MONYSERVICIOS S.A. por el de YAPSERVICIOS S.A. a fin de que quienes se creyeren con derecho a oponerse a su inscripciĂłn puedan presentar su peticiĂłn ante uno de los Jueces de lo Civil del domicilio principal de la compaĂąĂa, dentro de los seis dĂas contados desde la fecha de la Ăşltima publicaciĂłn de este extracto y ademĂĄs, pongan el particular en conocimiento de la Superintendencia de CompaĂąĂas. El Juez que reciba la oposiciĂłn o el accionante, notificarĂĄ o comunicarĂĄ segĂşn el caso, a esta Superintendencia, dentro del tĂŠrmino de dos dĂas siguientes a partir de dicha recepciĂłn, juntamente con el escrito de oposiciĂłn y providencia recaĂda sobre ella, Si no hubiere oposiciĂłn o no fuere notificada esta InstituciĂłn en la forma antes indicada, se procederĂĄ a la inscripciĂłn de la referida escritura pĂşblica de la mencionada compaĂąĂa y al cumplimiento de los demĂĄs requisitos legaIes.
I_ kde l_ij[ i_[cfh[ Z[ c_b_jWh [b fk[Xbe de ebl_ZW gk_Â&#x192;d j_[d[ bWi WhcWi$ C7HJĂ&#x17E;D CEH7B;I gXkifZ`eX[fi#%$EFK@=@HL<J<%$ EFK@=@HL<J<%$]1 ;I% =89I@:@F J<>F>@8 9<K8E:FLIK < Cf hl\ Zfdle`Zf p c\ Z`kf X ljk\[ gXiX cfj ]`e\j c\^Xc\j Zfej`^l`\ek\j# gi\m`e`Â&#x201E;e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi [fd`Z`c`f al[`Z`Xc gXiX gfjk\i`fi\j efk`]`ZXZ`fe\j \e \jkX al[`ZXkliX% $ :<IK@=@:F ;I% AL8E >8CC8I;F H% J<:I<K8I@F ?Xp ]`idX p j\ccf 8:&.0-(,&k] ALQ>8;F K<I:<IF ;< CF :@M@C ;< G@:?@E:?8
:@K8:@FE AL;@:@8C 8 K<CDF NC8;@D@I =I8>8 :8JK@CCF <OKI8:KF AL@:@F% M<I98C JLD8I@F Ă&#x2020;;@MFI:@F$ 8:KFI% K<I<J8 <JKI<CC8 >äE>FI8 JFJ8 ; < D 8 E ;8 ; F% K < C D F NC8;@D@I =I8>8 :8JK@CCF KI8D@K<% M<I98C JLD8I@F :8LJ8 Ef% *-$)'(($I:F :L8EK@8% @E;<K<ID@E8;8 Ă&#x2C6;ALQ>8;F K<I:<IF ;< CF :@M@C ;< G@:?@E:?8% Hl`kf# dXik\j )0 [\ dXiqf [\c )'((# cXj '0_)+%$ M@JKFJ1 8mfZf ZfefZ`d`\ekf [\ cX ZXljX \e ZXc`[X[ [\ Al\q \eZXi^X[f2 p# \e m`ikl[ [\ cX 8ZZ`Â?e [\ G\ijfeXc Ef% )'+$;G$;GG [\c * [\ ]\Yi\if [\c )'((%$ <e cf gi`eZ`gXc# cX [\dXe[X hl\ Xek\Z\[\# \j ZcXiX# gi\Z`jX p i\Â&#x2019;e\ cfj [\d}j i\hl`j`kfj [\ C\p%$ <e Zfej\Zl\eZ`X j\ cX XZ\gkX X kiXd`k\ M\iYXc JldXi`f [\ ;`mfiZ`f%$ 8k\ekf Xc aliXd\ekf i\e[`[f gfi K\i\jX <jki\ccX >Â?e^fiX JfjX2 p# [\
Zfe]fid`[X[ Zfe \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# ZÂ&#x2C6;k\j\ X K\cdf NcX[`d`i =iX^X :Xjk`ccf gfi cX gi\ejX \e lef [\ cfj g\i`Â?[`Zfj [\ dXpfi Z`iZlcXZ`Â?e [\ cX Z`l[X[ [\ Hl`kf p <jd\iXc[Xj%$ :Â&#x2019;dgcXj\ Zfe cf [`jgl\jkf \e \c 8ik% ((0 [\c :Â?[`^f :`m`c %$ KÂ&#x201E;e^Xj\ \e Zl\ekX cX `ej`elXZ`Â?e [\c ZliX[fi 8[$c`k\d%$ :lÂ&#x201E;ek\j\ Zfe lef [\ cfj X^\ek\j ]`jZX$ c\j [\ G`Z_`eZ_X%$ 8^iÂ&#x201E;^l\j\ cfj [fZld\ekfj gi\j\ekX[fj%$ 8eÂ?k\j\ \c ZXj`cc\if al[`Z`Xc j\Â&#x152;XcX[f2 p# cX Xlkfi`qXZ`Â?e ZfeZ\[`[X Xc 8Yf^X[f [\]\e$ jfi%$ Efk`]Â&#x2C6;hl\j\% ;i% <[n`e 8i^fk` I\p\j% Al\q \eZXi^X[f% Cf hl\ Zfdle`Zf gXiX cfj ]`e\j [\ c\p# gi\m`e`Â&#x201E;e[fc\ [\ cX fYc`^XZ`Â?e [\ j\Â&#x152;XcXi ZXj`$ cc\if al[`Z`Xc gXiX gfjk\i`fi\j efk`]`ZXZ`fe\j%$ 8k\ekXd\ek\# ;i% Afi^\ GXcXZ`fj ?% J<:I<K8I@F ;<C ALQ>8;F K<I:<IF ;< CF :@M@C ;< G@:?@E:?8 ?Xp ]`idX p j\ccf 8:&.0-*/&k] I\gÂ&#x2019;Yc`ZX [\c <ZlX[fi ALQ>8;F ;<:@DF K<I:<IF ;< CF :@M@C ;< G@:?@E:?8
:@K8:@äE AL;@:@8C 8 D8IK?8 >I8:@<C8 G8QD@zF M8C<E:@8 <OKI8:KF AL@:@F1 ;@MFI:@F Ef% (,00$ )'('$;I%$G= 8:KFI1 CL@J >L8D8E :898P ;<D8E;8;F1 D8IK?8 >I8:@<C8 G8 Q D @ z F M8C<E:@8
CONVOCATORIA Se convoca a los accionistas de la compaĂąĂa FLORES DE NAPOLES FLORNAPOL S.A. a la junta General Ordinaria que se efectuarĂĄ el dĂa jueves 26 de mayo del 2011, a las 10H30 en el domicilio de la compaĂąĂa ubicado en el cantĂłn Cayambe, Parroquia Cayambe, carretera Panamericana Norte Km. 2, VĂa a Otavalo. Los puntos a tratarse en el siguiente orden del dĂa son los siguientes. 1. 2. 3.
4. 5.
6.
Informe de las actividades del comisario de la compaĂąĂa; Informe de los Administradores de la compaĂąĂa; AprobaciĂłn de las cuentas, el Balance, el Estado de Perdida y Ganancias correspondiente al ejercicio econĂłmico del aĂąo 2010; Informe de la auditorĂa Externa; Nombramiento de Presidente, Gerente General y Auditora de la compaĂąĂa Flores de NĂĄpoles para el periodo 2011-2013. DistribuciĂłn de los beneficios sociales correspondeitnes al ejercicio econĂłmico del aĂąo 2010.
En virtud de la presente escritura pĂşblica la compaĂąĂa reforma el artĂculo uno del estatuto social el mismo que en adelante dirĂĄ:
Se ruega puntualidad.
â&#x20AC;&#x153;ARTICULO UNO.- NOMBRE.- La denominaciĂłn de la CompaĂąĂa es YAPSERVICIOS S.A.â&#x20AC;?
Cayambe, 14 de mayo 2011
Quito, 11 de mayo de 2011. Dr. Oswaldo Noboa LeĂłn. DIRECTOR JURĂ?DICO DE COMPAĂ&#x2018;Ă?AS AC/79606/tf
ING. FAUSTO FALCONI DROUET GERENTE GENERAL FLORES DE NAPOLES FLORNAPOL S.A.
A.P./49155/k.m.
F9A<KF1 F9K<E<I C8 ;@JFCL:@äE ;<C MĂ E:LCF D8KI@DFE@8C J\^le[f `eZ`jf [\ cX ZXljXc ((\iX% [\c 8ik% ((' [\c :Â?[`^f :`m`c KI8D@K<1 M<I98C JLD8I@F :L8EK@81 @E;<K<ID@E8;8 G I F M @ ; < E : @ 8 ALQ>8;F ;<:@DF K<I:<IF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# cle\j (( [\ XYi`c [\c )'((# cXj (-_*+%$ M@JKFJ%$ Gfi Zldgc`[f Zfe \c i\hl\i`d`\ekf Xek\i`fi%$CX [\dXe[X gifgl\jkX gfi \c ;i% E<JKFI 89<C >8CC<>FJ >L8KLD@CCF# \e ZXc`[X[ [\ GifZliX[fi Al[`Z`Xc [\c j\Â&#x152;fi CL@J >L8D8E :898P# \j Zfd$ gc\kX# ZcXiX# gi\Z`jX p i\Â&#x2019;e\ cfj [\d}j i\hl`j`kfj [\ c\p# gfi cf hl\ [\ZcXi}e[fj\cX gifZ\$ [\ek\ j\ cX X[d`k\ X ki}d`k\# \e al`Z`f M\iYXc JldXi`f%$ <e Zfej\Zl\eZ`X# \e dÂ&#x201E;i`kf [\ cX X]`idXZ`Â?e hl\ YXaf aliX$ d\ekf _X i\Xc`qX[f \c 8Zkfi# X KiXmÂ&#x201E;q [\ jl GifZliX[fi Al[`Z`Xc # Zfe]fid\ cf [`jgf$ e\ \c 8ik%$ /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# ZÂ&#x2C6;k\j\ X cX j\Â&#x152;fiX D8IK?8 >I8:@<C8 G8QD@zF M8C<E:@8# gfi cX gi\ejX \e lef [\ cfj g\i`Â?[`$ Zfj [\ dXpfi Z`iZlcXZ`Â?e [\ \jkX Z`l[X[ [\ Hl`kf p \e cX Z`l[X[ [\ Hl\if# i\jg\Zk`mX$ d\ek\# Zfe]fid\ cf [`jgfe\ \c 8ik%$ ((0 [\c :Â?[`^f JljkXek`mf :`m`c# d\[`Xek\ ki\j glYc`ZXZ`f$ e\j hl\ j\ _Xi}e ZX[X leX \ccXj \e ]\Z_Xj [`]\i\ek\j# d\[`Xe$ k\ fZ_f [Â&#x2C6;Xj cXYfiXYc\j \eki\ leX p fkiX# gXiX cf ZlXc j\ \eki\^Xi} \c \okiXZkf i\jg\Zk`$ mf%$ @eZfigÂ?i\j\ X cfj Xlkfj cX [fZld\ekXZ`Â?e XZfdgXÂ&#x152;X[X%$ KÂ?d\j\ efkX [\ cX ZlXekÂ&#x2C6;X# \c ZXj`cc\if al[`Z`Xc j\Â&#x152;XcX[f gfi \c 8Zkfi# gXiX jlj efk`]`ZXZ`fe\j gfjk\i`fi\j %$ EFK@=@HL<J<%$ ] ;i% IlYÂ&#x201E;e :\mXccfj =XYXiX% Al\q Cf hl\ Zfdle`Zf X ljk\[ gXiX cfj ]`e\j [\ C\p# gi\m`e`Â&#x201E;e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi ZXj`cc\if al[`Z`Xc gXiX ]lkliXj efk`]`ZXZ`fe\j hl\ c\ Zfii\jgfe[Xe% :\ik`]`Zf% ;i% E`cf >feqXcf 8cdXZ_`% J<:I<K8I@F ;<C ALQ>8;F ;<:@DF K<I:<IF ;< CF :@M@C ;< G@:?@E:?8 ?Xp ]`idX p j\ccf 8:&.0-).&k] I% ;<C <%
: @ K8 : @ ä E A L ; @ : @ 8 C 8 IF;I@>F 8EKFE@F EFI8D9L<E8 <JG@EFQ8 :FE <C AL@:@F FI;@E8I@F GIFGL<JKF GFI AL8E :8ICFJ :8JK<CC8EFJ D<;@E8 8:KFI1 AL8E :8ICFJ :8JK<CC8EFJ D<;@E8 ;<D8E;8;F1 IF;I@>F 8EKFE@F EFI8D9L<E8 <JG@EFQ8 =LE;8D<EKFJ ;< ;<I<:?F1 8IKJ% .(/# )*0)# )*0*# )*0/ P )+'/ ;<C :F;@>F :@M@C KI8D@K<1 FI;@E8I@F :L8EK@81 LE D@C ;FC8I<J ;FD@:@C@F AL;@:@8C1 ;I% <;@JFE CFG<Q KFII<J Ă&#x2020; :8J@CC<IF AL;@:@8C E1 +* ALQ>8;F ;<:@DF J<GK@DF ;< CF :@M@C ;< G@:?@E:?8 JXe^fchlÂ&#x2C6;# X (0 [\ DXiqf [\c )'('% 8 cXj '0?',%$ M@JKFJ1 CX [\dXe[X hl\ Xek\Z\[\ \j ZcXiX# gi\Z`jX# Zfdgc\kX p i\Â&#x2019;e\ cfj [\d}j i\hl`j`kfj [\ c\p# gfi cf hl\ j\ cX XZ\gkX Xc ki}d`k\ i\jg\Zk`mf# \e al`Z`f Fi[`eXi`f# \e Zfej\Zl\eZ`X ZÂ?iiXj\ kiXj$ cX[f Zfe cX gi\j\ek\ [\dXe[X p \jkX gifm`[\eZ`X Xc [\dXe$ [X[f IF;I@>F 8EKFE@F EFI8D9L<E8 <JG@EFQ8# gfi \c kÂ&#x201E;id`ef [\ hl`eZ\ [Â&#x2C6;Xj X ]`e [\ hl\ gi\j\ek\ cXj \oZ\g$ Z`fe\j X hl\ j\ Zi\X Xj`jk`[f# YXaf Xg\iZ`Y`d`\ekf \e i\Y\c$ [Â&#x2C6;X :Â&#x2C6;k\j\ Xc [\dXe[X[f If[i`^f 8ekfe`f EfiXdYl\eX <jg`efqX# [\ Zfe]fid`[X[ Zfe cf hl\ [`jgfe\ \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# \jkf \j lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcXZ`Â?e \e cX Z`l[X[ [\ Hl`kf @ejZiÂ&#x2C6;YXj\ cX gi\j\e$ k\ [\dXe[X \e cX ;`i\ZZ`Â?e EXZ`feXc [\ Ki}ej`kf# Zfe]fi$ d\ ( [`jgfe\ \c 8ik% (''' [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c#
Ĺ? Ä Ä&#x2021;Ĺ? Ĺ? Ĺ? Ĺ?Ä&#x201A;Ä&#x20AC;Ä Ä
Ĺ? +. Ĺ? Ä&#x152;Ĺ? gXiX \c \]\Zkf efk`]Â&#x2C6;hl\j\ \e c\^Xc ]fidXi KÂ?d\j\ \e Zl\e$ kX \c ZXj`cc\if al[`Z`Xc Eif% '/( j\Â&#x152;XcX[f gfi \c ;fZkfi <[`jfe CÂ?g\q Kfii\j p cX Xlkfi`qX$ Z`Â?e Zfe]\i`[X Xc d\eZ`feX$ [f gif]\j`feXc% 8^iÂ&#x201E;^l\j\ cX [fZld\ekXZ`Â?e gi\j\ekX[X% EFK@=@HL<J<% = ;i% 8c]fejf @Â&#x152;`^l\q >XiZÂ&#x2C6;X% Al\q Cf hl\ Zfdle`Zf X ljk\[ gXiX cfj ]`e\j [\ C\p# gi\m`e`Â&#x201E;e[fc\ [\ cX fYc`^XZ`Â?e [\ j\Â&#x152;XcXi ZXj`$ cc\if al[`Z`Xc \e lef [\ cfj [\c cl^Xi [\c al`Z`f gXiX gfjk\i`fi\j efk`]`ZXZ`fe\j% :\ik`]`Zf% 8Y^% =\ieXe[f >iXeaX C% J<:I<K8I@F ?Xp ]`idX p j\ccf 8:&.0+0/&k] I<GL9C@:8 ;<C <:L8;FI ALQ>8;F J<>LE;F ;< CF :@M@C ;< G@:?@E:?8
:@K8:@äE AL;@:@8C :`kXj\ Zfe \c j`^l`\ek\ \okiXZ$ kf [\ cX [\dXe[X X1 IFDLCF D 8 I: < CF 8 E ; I 8 ; < DFE:8PF Zlpf k\efi \j \c j`^l`\ek\1 8:KFI1 ALC@F ><E8IF >8?FE CFFI ;<D8E;8;FJ1 IFDLCF D 8 I: < CF 8 E ; I 8 ; < DFE:8PF :C8J< ;< AL@:@F FI;@E8I@F1 Ef% ''-) $ )'((% =M :L8EK@81 @E;<K<ID@E8;8 ALQ>8;F J<>LE;F ;< CF :@M@C ;< G@:?@E:?8% Hl`kf#'/ [\ XYi`c [\c )'((# cXj ((_'*%$ M@JKFJ1 8mfZf ZfefZ`$ d`\ekf [\ cX gi\j\ek\ ZXljX \e ZXc`[X[ [\ Al\q \eZXi^X[f [\c Alq^X[f J\^le[f [\ cf :`m`c [\ G`Z_`eZ_X \e m`ikl[ [\c f]`Z`f Ef% (*'/$;G$;GG# [\ ]\Z_X . [\ Alc`f [\c )'('%$ CX [\dXe$ [X gi\j\ekX[X gfi1 ALC@F ><E8IF >8?FE CFFI \e ZfekiX [\ IFDLCF D8I:<CF 8E;I8;< DFE:8PF# i\Â&#x2019;e\ cfj i\hl`j`kfj c\^Xc\j# \e Zfej\Zl\eZ`X j\ cX XZ\gkX Xc ki}d`k\ Zfii\jgfe[`\ek\ gfi cX mÂ&#x2C6;X fi[`eXi`X gi\m`jkX \e \c K`klcf @@# J\ZZ`Â?e (if# GXi}^iX]f (if 8ikj% *0, p j`^l`\ek\j [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c% 8 ]`e [\ hl\ \c [\dXe[X[f \e \c kÂ&#x201E;id`ef [\ hl`eZ\ [Â&#x2C6;Xj gifgfe^X cXj \oZ\gZ`fe\j [\ cXj hl\ j\ Zi\p\i\ Xj`jk`[f% 8k\ekX cX Xj\m\iXZ`Â?e aliX$ d\ekX[X [\c XZZ`feXek\ i\j$ g\Zkf [\ cX `dgfj`Y`c`[X[ [\ [\k\id`eXi cX `e[`m`[lXc`[X[ f i\j`[\eZ`X [\c [\dXe[X[f :Â&#x2C6;k\j\ X IFDLCF D8I:<CF 8E;I8;< DFE:8PF# Zfe le \okiXZkf [\ cX [\dXe[X p \jkX gifm`[\eZ`X gfi cX gi\e$ jX \e lef [\ cfj g\i`Â?[`Zfj [\ dXpfi Z`iZlcXZ`Â?e hl\ j\ \[`kXe \e \jkX Z`l[X[ [\ Hl`kf KÂ?d\j\ \e Zl\ekX cX ZXj`ccX al[`Z`Xc p cX Xlkfi`qXZ`Â?e fkfi$ ^X[X X jl XYf^X[f gXkifZ`$ eX[fi% 8^iÂ&#x201E;^l\j\ Xc gifZ\jf cfj [fZld\ekfj gi\j\ekX[fj EFK@=@HL<J< $ ;I% =89I@:@F J<>FM@8 9<K8E:FLIK AL<Q <E:8I>8;F Cf hl\ Zfdle`Zf p c\j Z`kf X ljk\[\j gXiX cfj ]`e\j c\^Xc\j Zfej`^l`\ek\j# gi\m`e`Â&#x201E;e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi [fd`Z`c`f al[`Z`Xc gXiX gfjk\i`fi\j efk`]`ZXZ`fe\j \e \jkX al[`ZXkliX% $ :<IK@=@:F ;I% AL8E >8CC8I;F H% J<:I<K8I@F ?Xp ]`idX p j\ccf 8:&.0,+'&k]
I<D8K<J I% ;<C <% ALQ>8;F GI@D<IF ;< CF :@M@C ;< G@:?@E:?8
8M@JF ;< I<D8K< J< GFE< <E :FEF:@D@<EKF ;<C GL9C@:F <E ><E<I8C HL< <E C8 J<:I<K8I@8 ;<C ALQ>8;F GI@D<IF ;< CF :@M@C ;< G@:?@E:?8# <C ;Ă 8
Ä&#x160;
D8IK<J :8KFI:< ;< ALE@F ;<C ;FJ D@C FE:<# 8 G8IK@I ;< C8J :8KFI:< ?FI8J# ?8JK8 C8J ;@<:@F:?F ?FI8J# <E <C AL@:@F <A<:LK@MF Ef% ','0$)'('$ ;%>%=% K<E;IĂ? CL>8I C8 M<EK8 <E GL9C@:8 JL98JK8 ;<C 9@<E @EDL<9C<# HL< ?8 :FEK@EL8:@FE ;< ;<K8CC8% L9@:8:@äE Cfj cfk\j 8 p : [\jd\dYiX$ [fj [\c cfk\ EÂ&#x2014; LEF gXik\ [\ cX _XZ`\e[X :_`j`eZ_\ DXi`jZXc JlZi\ j\ \eZl\ekiXe \e cX GXeXd\i`ZXeX Jli \e cX GXiifhl`X [\ 8cfXj` g\ik\e\$ Z`\ek\ Xc :XekÂ?e D\aÂ&#x2C6;X [\ cX Gifm`eZ`X [\ G`Z_`eZ_X% CFK< EÂ&#x2014; Ă&#x2C6;8Ă&#x2030; ;<J:I@G:@FE C<>8C <J:I@KLI8 ;< :FDGI8 M<EK8 < ?@GFK<:8 <e Hl`kf# ), [\ Efm`\dYi\ [\c )''/ Xek\ d` EfkXi`f M`^Â&#x201E;j`df Efm\ef [\ Hl`kf# ;i% If[i`^f JXc^X[f MXc[\q ZfdgXi\Z\e @H= 8>IF@E;LJKI@8C ;<C <:L8;FI J%8% I\gi\j\ekX[X gfi ?Â&#x201E;Zkfi :Xicfj Jl}i\q 8i`Xj# Zfdf C8 M<E;<;FI8# gfi fkiX gXik\ = F F ; J 8 C < J @EM<JKD<EKJ J % 8 % I\gi\j\ekX[X gfi jl ^\i\e$ k\ >\e\iXc :Xicf 8eZfeX ;` :XglX X cX hl\ j\ [\efd`eXiX C8 :FDGI8;FI8% 8 E K <: < ; < E K <J 1 C 8 M<E;<;FI8 \j gifg`\kXi`X [\c cfk\ [\ k\ii\ef [\jd\d$ YiX[f [\c cfk\ EÂ&#x2014; LEF gXik\ [\ cX _XZ`\e[X :_`j`eZ_\ DXi`jZXc JlZi\ [\ cX GXiifhl`X [\ 8cfXj`# :XekÂ?e D\aÂ&#x2C6;X [\ cX Gifm`eZ`X [\ G`Z_`eZ_X# \c d\eZ`feX[f cfk\ cf X[hl`i`Â? d\[`Xek\ ZfdgiXm\ekX X cX JiX% DXi`X [\c :Xid\e 8cYlaX [\ >lXi[\iXj j\^Â&#x2019;e \jZi`kliX [\ ZfdgiX m\ekX [\c . [\ 8Yi`c [\ (00, Xek\ \c EfkXi`f M`^Â&#x201E;j`df :lXikf [\c :XekÂ?e Hl`kf ;i% Afi^\ :Xdgfj ;\c^X[f \ `ejZi`kXj \e \c I\^`jkif [\ cX Gifg`\[X[ [\c :XekÂ?e D\aÂ&#x2C6;X \c ). [\ 8Yi`c [\ (00,% C@E;<IFJ ;<C CFK< Ă&#x2C6;8Ă&#x2030; EFIK<1 <e //#/' d Zfe gifg`\$ [X[ [\ J_lY\ik_ 9XZ`^Xclgf JLI1 <e ('*#.+ d Zfe gifg`\$ [X[ [\ =ff[jXc\j @em\jkd\ekj J%8% <JK<1 <e ('+#,- d Zfe ZXd`$ ef m`\af F<JK<1 <e ('+#-. d Zfe GXeXd\i`ZXeX Jli% 8I<84 ('#'.'d) < O G I F G @ 8 : @ F E < J I<8C@Q8;8J 8C K<II<EF <c D`e`jk\i`f [\ KiXejgfik\ p FYiXj GÂ&#x2019;Yc`ZXj CX JlYj\Zi\kXi`X [\ [\c\$ ^XZ`fe\j p :feZ\j`fe\j [\c kiXejgfik\% ;\ XZl\i[f Xc \og\[`\ek\ EÂ&#x2014; /,($)'('$J;:K$8J =\Z_X1 (0 [\ Efm`\dYi\ [\c )'('% :fe dfk`mf [\ cfj kiXYXafj [\ ZfejkilZZ`Â?e [\c XZZ\jf Jli [\ cX Z`l[X[ [\ Hl`kf# \e cX GXiifhl`X [\ 8cfXj`# :XekÂ?e D\a`X Gifm`eZ`X [\ G`Z_`eZ_X# _X jl]i`[f fZlgXZ`Â?e# \ogif$ g`XZ`Â?e p [XÂ&#x152;fj [\ cX gifg`\[X[ [\ =FF;J8C<J @EM<JKD<EKJ J%8% ;\ Zfe]fid`[X[ Zfe \c j`^l`\ek\ XmXcÂ&#x2019;f# ZlpX [\kXcc\ ZfejkX e cX i\jg\Zk`mX 8ZkX [\ fZlgXZ`Â?e c\mXekX[X gfi cX 8ih% 8eX >XiqÂ?e# Jlg\im`jfiX [\ cX JlYj\Zi\kXi`X [\ ;\c\^XZ`fe\j p :feZ\j`fe\j [\c D`e`jk\i`f [\ KiXejgfik\ p FYiXj GlYc`ZXj% K\ii\ef1 Ă?i\X kfkXc1 ('%'''#'' d) 8]\ZkXZ`Â?e1 (%'0(#0( d) MXcfi1 .#//'#(, 8I<8 I<8C ;<C CFK< Ă&#x2C6;8Ă&#x2030;1 /%0./#'0 d) ;<J:I@G:@FE ;< C8 GIFG@<;8; :<II8D@<EKFJ EFIK<1 dXdgfjk\iÂ&#x2C6;X [\ Ycf$ hl\ Zfe ZfcldeXj [\ _fid`^Â?e
Ĺ? Ĺ?
Ĺ?
Ĺ? Ĺ?
Ĺ?
Ä Ä&#x20AC;
Ĺ? Ä Ä&#x2021;Ĺ? Ĺ? Ĺ? Ĺ?Ä&#x201A;Ä&#x20AC;Ä Ä
Ĺ? +. Ĺ? Ä&#x152;Ĺ?
XidX[f JLI1 J`e Z\iiXd`\ekf <JK<1 QXeaX eXkliXc p XcXdYi\ [\ gÂ&#x2019;Xj F<JK<1 G`e^fj Zfe XcXdYi\ [\ gÂ&#x2019;Xj% K<II<EF $ GcXef $ I\ZkXe^lcXi $ K`\e\ cfj j\im`Z`fj [\ clq \cÂ&#x201E;Zki`ZX Zfe kiXej]fidX[fi [\ '#.,Bn% $ <c X^lX \j [\ gfqf $ <c XcZXekXi`ccX[f \j Zfe gfqf jÂ&#x201E;gk`Zf% $ <o`jk\ ki\j ZfejkilZZ`fe\j $ Ef \o`jk\ j\dYiÂ&#x2C6;fj% :FEJKIL::@FE EÂ&#x2014; LEF :fejk`kl`[f [\1 :fd\[fi# m\j$ k`[fi\j p [`jg\ejXi`f% :fejkil`[f [\1 $ <jkilZkliX [\ ZfcldeXj# m`^Xj p Zfii\Xj [\ g\i]`c\j [\ _`\iif% $ K\Z_f [\ il]k\Z $ DXdgfjk\iÂ&#x2C6;X [\ Ycfhl\ $ G`jfj [\ Z\d\ekf# \e fkiX [\ [l\cX [\ \lZXc`gkf% $ Gl\ikXj [\ kffc $ M\ekXeXj [\ _`\iif m`[i`f p gifk\ZZ`fe\j $ 9XÂ&#x152;fj1 :fe i\ZlYi`d`\ekfj [\ Z\i}d`ZX# jXe`kXi`fj eXZ`f$ eXc\j% $ :fd\[fi1 G`jfj [\ Z\i}d`$ ZX# d\jfe\j [\ _fid`^Â?e Zfe i\ZlYi`d`\ekfj [\ Z\i}d`ZX# ]i\^X[\if [\ le gfqf# <JK8;F1 I\^lcXi j`e dXek\$ e`d`\ekf 8I<84 (,/#)'d) :FEJKIL::@FE EÂ&#x2014; ;FJ :fejk`kl`[f [\1 9f[\^Xj [\ XZfg`f# f]`Z`eXj# Zfekifc [\ gif[lZZ`Â?e# ZlXikfj ]iÂ&#x2C6;fj# i\Z\gZ`Â?e% :fejkil`[f [\1 $ <jkilZkliX [\ g\i]`c\j [\ _`\iif $ K\Z_f [\ il]k\Z $ DXdgfjk\iÂ&#x2C6;X [\ Ycfhl\ $ <eclZ`[fj `ek\iefj p \ok\i$ efj $ M\ekXeXj [\ _`\iif m`[i`f p gifk\ZZ`fe\j $ Gl\ikXj [\ kffc $ >iX[Xj [\ _`\iif $ <eki\g`jf [\ g\i]`c\j [\ _`\iif p _fid`^Â?e% $ G`jfj [\ Z\d\ekf \e fkiXj [\ m`e`c $ GXik\ [\ d\jfe\j [\ _fi$ d`^Â?e Zfe i\ZlYi`d`\ekf [\ Z\i}d`ZX% $ <o`jk\ leX gcXekX XckX Zfe f]`Z`eXj <JK8;F1 I\^lcXi j`e dXek\$ e`d`\ekf 8I<84 0+0#)' d) :FEJKIL::@FE EÂ&#x2014; KI<J :fejk`kl`[f [\1 leX f]`Z`eX [\ Zfekifc [\ ZXc`[X[ :fejkil`[f [\1 $ <jkilZkliX [\ g\i]`c\j [\ _`\iif $ K\Z_f [\ il]c\Z $ DXdgfjk\iÂ&#x2C6;X [\ Ycfhl\ $ Gl\ikXj [\ kffc $ M\ekXeXj [\ _`\iif m`[i`f p gifk\ZZ`fe\j $ G`jfj [\ Z\i}d`ZX% $ D\jfe\j [\ _fid`^Â?e Zfe i\ZlYi`d`\ekfj [\ Z\i}d`ZX <JK8;F1 I\^lcXi 8I<8 (+#-) d) D8CC8J $ G`jf [\ Z\d\ekf $ GXi\[\j [\ dXccX \c\Zkif$ jfc[X[X $ :fcldeXj [\ g\i]`c\j [\ _`\iif $ :lY`\ikX [\ dXccX q`e^ \e gXik\ \e fkiX jfcf dXccX <JK8;F1 dXcf 8I<8 4 )*+#'.d) G8M@D<EKFJ $ GXm`d\ekf Zfe dXccX \c\Zkif$ jfc[X[X% 8I<84 -0/#*'d) KI8EJ=FID8;FI $ ;\ '#., BN $ :fe [fj gfjk\j [\ _fid`^Â?e LE@;8;1 (#'' l CFK< EÂ&#x2014; Ă&#x2C6;:Ă&#x2030; ;<J:I@G:@FE C<>8C <J:I@KLI8 ;< :FDGI8 M<EK8 < ?@GFK<:8
<e Hl`kf# ), [\ Efm`\dYi\ [\c )''/ Xek\ d` ;i% If[i`^f JXc^X[f MXc[\q EfkXi`f M`^Â&#x201E;j`df Efm\ef [\ Hl`kf# ZfdgXi\Z\e @H= 8>IF@E;LJKI@8C ;<C <:L8;FI J%8% I\gi\j\ekX[X gfi ?Â&#x201E;Zkfi :Xicfj Jl}i\q 8i`Xj# C8 M<E;<;FI8# gfi fkiX gXik\ =FF;J8C<J @EM<JKD<EKJ J%8% I\gi\j\ekX[X gfi jl >\i\ek\ >\e\iXc :Xicf 8eZfeX ;` :XglX X cX hl\ j\ [\efd`eXiX C8 :FDGI8;FI8% 8 E K <:<;<EK<J1 C 8 M<E;<;FI8 \j gifg`\kXi`X [\c cfk\ [\ k\ii\ef [\jd\d$ YiX[f [\c cfk\ EÂ&#x2014; LEF gXik\ [\ cX _XZ`\e[X :_`j`eZ_\ DXi`jZXc JlZi\ [\ cX GXiifhl`X [\ 8cfXj`# :XekÂ?e D\aÂ&#x2C6;X [\ cX Gifm`eZ`X [\ G`Z_`eZ_X# \c d\eZ`feX[f cfk\ cf X[hl`i`Â? d\[`Xek\ ZfdgiXm\ekX X cX JiX% DXi`X [\c :Xid\e 8cYlaX [\ >lXi[\iXj j\^Â&#x2019;e \jZi`kliX [\ ZfdgiX M\ekX [\c . [\ 8Yi`c [\ (00, Xek\ \c EfkXi`f M`^Â&#x201E;j`df :lXikf [\c :XekÂ?e Hl`kf% ;i% Afi^\ :Xdgfj ;\c^X[f \ `ejZi`kXj \e \c I\^`jkif [\ cX Gifg`\[X[ [\c :XekÂ?e D\aÂ&#x2C6;X \c ). [\ 8Yi`c [\ (00,% C@E;<IFJ ;<C CFK< Ă&#x2C6;:Ă&#x2030; EFIK<1 <e ((+#)- d Zfe gifg`\[X[ [\ =ff[jXc\j @em\jk`d\ekj J%8% JLI1 <e ()'#+.d Zfe gif$ g`\[X[ [\ DXi`X [\c :Xid\e 8cYlaX% <JK<1 <e +)#0* d Zfe ZXd`ef m`\af F<JK<1 <e +)#/' d Zfe GXeXd\i`ZXeX Jli% 8I<8 ,%'*'#'' d) ;<J:I@G:@FE ;< C8 GIFG@<;8; :<II8D@<EKFJ EFIK<1 J`e Z\iiXd`\ekf JLI1 QXeaX eXkliXc g\hl\Â&#x152;X# g`e^fj Zfe XcXdYi\ [\ gÂ&#x2019;Xj% <JK<1 DXdgfjk\iÂ&#x2C6;X [\ Ycfhl\ F<JK<1 G`e^fj Zfe XcXdYi\ [\ gÂ&#x2019;Xj% K<II<EF $ GcXef $ I\ZkXe^lcXi $ Ef k`\e\ cfj j\im`Z`fj Y}j`Zfj [\ `e]iX\jkilZkliX Zfdf X^lX gfkXYc\# XcZXekXi`ccX[f# clq \cÂ&#x201E;Zki`ZX% $ Ef \o`jk\ j\dYiÂ&#x2C6;fj $ Ef \o`jk\ ZfejkilZZ`fe\j < O G I F G @ 8 : @ F E < J I<8C@Q8;8J 8C K<II<EF <c D`e`jk\i`f [\ KiXejgfik\ p FYiXj GÂ&#x2019;Yc`ZXj CX JlYj\Zi\kXiÂ&#x2C6;X [\ [\c\$ ^XZ`fe\j p :feZ\j`fe\j [\c kiXejgfik\% ;\ XZl\i[f Xc \og\[`\ek\ Ef% /,*$)'('$J;:K$8J =\Z_X1 (0 [\ Efm`\dYi\ [\c )'('% :fe dfk`mf [\ cfj kiXYXafj [\ ZfejkilZZ`Â?e [\c XZZ\jf Jli [\ cX Z`l[X[ [\ Hl`kf# \e cX GXiifhl`X [\ 8cfXjÂ&#x2C6;# :XekÂ?e D\aÂ&#x2C6;X Gifm`eZ`X [\ G`Z_`eZ_X# _X jl]i`[f fZlgXZ`Â?e# \ogif$ g`XZ`Â?e p [XÂ&#x152;fj [\ cX gifg`\[X[ [\ =FF;J8C<J @EM<JKD<EKJ J%8% ;\ Zfe]fid`[X[ Zfe \c j`^l`\ek\ XmXcÂ&#x2019;f# Zlpf [\kXcc\ ZfejkX \e cX i\jg\Zk`mX 8ZkX [\ fZlgXZ`Â?e c\mXekX[X gfi cX 8ih% 8eX >XiqÂ?e# Jlg\im`jfiX [\ cX JlYj\Zi\kXiÂ&#x2C6;X [\ ;\c\^XZ`fe\j p :feZ\j`fe\j [\c D`e`jk\i`f [\ KiXejgfik\ p FYiXj GÂ&#x2019;Yc`ZXj% K\ii\ef1 8i\X kfkXc1 ,%'''#'' d)% 8]\ZkXZ`Â?e1 +)*#.( d)% MXcfi1 *%'-(#.' 8I<8 I<8C ;< CFK< Ă&#x2C6;:Ă&#x2030;1 +%-'-#)0 D)% 8M8 C L F ;< C 8 J GIFG@<;8;<J CFK< Ă&#x2C6;8Ă&#x2030; K\ii\ef2 /%0./#'0 d) X /#)' Z&d)2 .*%-)'#*+ :fejkilZZ`Â?e Ef% (2 (,/#)' d) X ,,#'' Z&d)2 /%.'(#'' :fejkilZZ`Â?e Ef% )2 0+0#)' d) X ,,#'' Z&d)2 ,)%)'-#''
Ĺ?
:fejkilZZ`Â?e Ef% *2 (+#-' d) X ,,#'' Z&d)2 /'*#'' DXccX )*+#'. d) X 0#'' Z& d)2 )%('-#-* GXm`d\ekf -0/#*' d) -#,' Z&d) +%,*/#0, KiXej]fidX[fi (#'' l X ,%'''#'' Z&l ,%'''#'' JLD81 (+-%0.,#0) CFK< Ă&#x2C6;:Ă&#x2030; K\ii\ef +%-'-#)0 d) X /#)' Z&d) *.%..(#,/ JLD81 *0%(,*#+KFK8C1 (/-%()0#*/ JFE1 :@<EKF F:?<EK8 P J<@J D@C :@<EKF M<@EK< P EL<M<# Zfe */&('' ;FC8I<J 8D<I@:8EFJ% ALQ>8;F GI@D<IF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# al\m\j (+ [\ XYi`c [\c )'((# cXj ((_,,%$ Cfj \jZi`kfj p Xe\ofj gi\j\ekX[fj X^iÂ&#x201E;^l\j\ Xc gifZ\jf% <e cf gi`eZ`gXc2 [\ Zfe]fid`[X[ Zfe cf [`jgl\jkf \e \c 8ik% +*' [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# e`\^Xj\ cf jfc`Z`kX[f gfi \c @e^% :Xicf 8eZfeX ;` :XglX# [\aXe[f X jXcmf \c [\i\Z_f hl\ \jk\ k`\e\ gXiX j\^l`i cXj XZZ`fe\j c\^Xc\j hl\ j\ Zi\X Xj`jk`[f% Gfi \jkX jfcX m\q efk`]Â&#x2C6;hl\j\ Xc @e^% :Xicf 8eZfeX ;` :XglX# \e \c ZXj`cc\if al[`Z`Xc j\Â&#x152;XcX$ [f2 j\Â&#x152;XcXj\ gXiX \c [Â&#x2C6;X dXik\j ZXkfiZ\ [\ ale`f [\c [fj d`c feZ\# [\j[\ cXj ZXkfiZ\ _fiXj _XjkX cXj [`\Z`fZ_f _fiXj# gXiX hl\ \e cX J\Zi\kXi`f [\ \jkX Al[`ZXkliX# k\e^X cl^Xi \c i\dX$ k\ [\c Y`\e `edl\Yc\ \dYXi^X$ [f [\ gifg`\[X[ [\ cX <dgi\jX =FF;J8C<J @EM<JKD<EKJ J%8%# cfk\j 8 p :# [\jd\dYiX$ [fj [\c cfk\ Ef% LEF# gXik\ [\ cX _XZ`\e[X :_`j`eZ_\ DXi`jZXc JlZi\j hl\ j\ \eZl\ekiX \e cX GXeXd\i`ZXeX Jli# \e cX GXiifhl`X [\ 8cfXjÂ&#x2C6; [\c :Xekf D\a`X [\ cX Gifm`eZ`X [\ G`Z_`eZ_X# dXj ZXiXZk\iÂ&#x2C6;jk`ZXj p \jg\Z`]`ZXZ`fe\j ZfejkXe [\ Xlkfj% ?}^Xj\ jXY\i Xc gÂ&#x2019;Yc`Zf `ek\i\jX[f d\[`Xek\ ki\j glYc`$ ZXZ`fe\j \e lef [\ cfj g\i`Â?$ [`Zfj [\ dXpfi Z`iZlcXZ`Â?e [\ \jkX :`l[X[ [\ Hl`kf% =`a}e[fj\ cfj ZXik\c\j \e cfj gXiXa\j p d}j ZfeZlii`[fj [\ cX =leZ`Â?e Al[`Z`Xc p \e 8cfXjÂ&#x2C6; cl^Xi [fe[\ j\ \eZl\ekiX \c Y`\e `edl\Yc\# gXiX cf ZlXc Zfd`j`feXj\ \c j\Â&#x152;fi K\e`\ek\ GfcÂ&#x2C6;k`Zf [\ cX GXiifhl`X [\ 8cfXjÂ&#x2C6;# \em`}e$ [fc\ jl]`Z`\ek\ [\jgXZ_f%$ <c i\dXk\ k\e[i} Zfdf YXj\ [\ cXj [fj k\iZ\iXj gXik\j [\c XmXclÂ? gfi kiXkXij\ [\ gi`d\i j\Â&#x152;XcXd`\ekf% :fe efk`]`ZX$ Z`Â?e X \a\ZlkXek\ p \a\ZlkX[f# _}^Xj\ ZfefZ\i cX k\iZ\iÂ&#x2C6;X ZfX[plmXek\ ]fidlcX[X gfi \c ;i% AlXe =iXeZ`jZf M}qhl\q <jg`efjX# Zfdf GifZliX[fi Al[`Z`Xc [\c 9XeZf Jfc`[Xi`f J%8%%$ Efk`]Â&#x2C6;hl\j\%$ ;I% 8C=I<;F >I@A8CM8 DLzFQ% AL<Q% Cf hl\ gfe^f \e ZfefZ`d`\e$ kf Xc gÂ&#x2019;Yc`Zf \e ^\e\iXc# gXiX cfj ]`e\j c\^Xc\j Zfii\jgfe$ [`\ek\j% ;i% GXYcf Kfif :Xii`ccf J<:I<K8I@F ?Xp ]`idX p j\ccf 8:&/)/(*&k] ALQ>8;F M@><J@DF :L8IKF ;< CF :@M@C ;< G@:?@E:?8 8M@JF ;< I<D8K<
J\ gfe\ \e ZfefZ`d`\ekf [\c gÂ&#x2019;Yc`Zf \e ^\e\iXc hl\ \c [Â&#x2C6;X cle\j m\`ek`j`\k\ [\ ale`f [\c [fj d`c feZ\# X gXik`i [\ cXj ZXkfiZ\ _fiXj _XjkX cXj [`\Z`f$ Z_f _fiXj# \e cX J\Zi\kXiÂ&#x2C6;X [\ \jkX Al[`ZXkliX# k\e[i} cl^Xi \c i\dXk\ [\c `edl\Yc\ hl\ X Zfek`elXZ`Â?e j\ [\kXccX1 (% L9@:8:cFE <c gi\[`f dXk\i`X [\ cX gi\j\ek\ [`c`^\eZ`X j\ \eZl\ekiX lY`ZX$ [f \e cX Gifm`eZ`X [\ G`Z_`eZ_X# :XekÂ?e Hl`kf# GXiifhl`X <cfp 8c]Xif# J\Zkfi <c GXcdXi [\ JfcXe[X# ZXcc\ Hl`d`X^ j`^eX$ [X Zfe F\)$*0/ p 8m% K\e`\ek\ ?l^f Fik`q% )% C@E;<IFJ P JLG<I=@:@< C@E;<IFJ ><E<I8C<J Efik\1 :fe leX cfe^`kl[ [\ (.%'' d Zfe Cfk\ EÂ&#x2014; ( X[al$ [`ZX[f X DXel\c MXi\cX p jl ZÂ?epl^\% Jli1 :fe leX cfe^`kl[ [\ *(%/' d Zfe ZXcc\ Hl`d`X^
Ieb[ZWZ0 Kd _dijWdj[ Z[ fb[d_jkZ$ C?9>;B ;OGK;D :; CEDJ7?=D;
<jk\1 :fe leX cfe^`kl[ [\ ).%0' d Zfe Cfk\ EÂ&#x2014; * hl\ j\ X[al[`ZX X AlXe =\ieXe[f GXlZX F\jk\1 :fe leX cfe^`kl[ [\ ((%'' d Zfe Cfk\ EÂ&#x2014; ( X[al$ [`ZX[f X DXel\c MXi\cX p jl ZÂ?epl^\% 8I<8 ;<C @EDL<9C<1 +,+#0' d) :fdf \c \dYXi^f \jk} i\Xc`$ qX[f jfYi\ \c ((%'0 [\ cfj [\i\Z_fj p XZZ`fe\j p cX gif$ g`\[X[ j\ \eZl\ekiX jlY[`m`$ [`[X# gfi cf kXekf \c }i\X [\ k\ii\ef% hl\ c\ Zfii\jgfe[\ Xc ((%'0 [\ cfj [\i\Z_fj p XZZ`fe\j j\ \eZl\ekiX [\ekif [\ cfj j`^l`\ek\j c`e[\ifj1 C@E;<IFJ ;<C ((%'0 ;;% 88% <D98I>8;F Efik\1 :fe leX cfe^`kl[ [\ .%'' d Zfe Cfk\ EÂ&#x2014; ) [\ cX jlY[`m`j`Â?e% Jli1 :fe leX cfe^`kl[ [\ /%'' d Zfe Cfk\ EÂ&#x2014; + [\ cX jlY[`m`$ j`Â?e p gXjXa\ ZfdleXc% <jk\1 :fe leX cfe^`kl[ [\ .%'' d Zfe Cfk\ EÂ&#x2014; ) [\ cX jlY[`$ m`j`Â?e% F\jk\1 :fe leX cfe^`kl[ [\ /%)' d Zfe ZXcc\ Hl`d`X^ 8I<8 ;<C ((%'0 [\ ;;% 88%1 ,'%.' d) *% @ E = I8 <JK IL :K L I8 LI98E8 98J@:81 CX gifg`\[X[ \e d\eZ`Â?e [`jgfe\ [\ j\im`Z`fj [\ `e]iX$ \jkilZkliX liYXeX Y}j`Zfj Zfdf jfe1 XcZXekXi`ccX[f# X^lX gfkXYc\# \e\i^Â&#x2C6;X \cÂ&#x201E;Zki`ZX# cX ZXcc\ Hl`d`X^ \j X[fhl`eX[X p cX 8m% K\e`\ek\ ?l^f Fik`q \j Xj]XckX[X% +% LJF ;<C JL<CF1 <c ljf \oZclj`mf gXiX M`m`\e[X p Zfd\iZ`f% ,% ;<J:I@G:@FE1 <e \c }i\X [\ k\ii\ef hl\ c\ Zfii\jgfe[\ cfj [\i\Z_fj p XZZ`fe\j [\c [\dXe[X[f \o`jk\1 Cfk\ [\ k\ii\ef :fejkilZZ`Â?e [\ ?fid`^Â?e XidX[f [\ ki\j gcXekXj% GIF>I8D8 =LE:@FE8C1 X% :fejkilZZ`Â?e [\ ?fid`^Â?e 8idX[f [\ ki\j g@XekXj1 Ă?i\X1 (,/%,. d) Ef% g`jfj1 * 8dY`\ek\j1 G%91 CfZXc Zfd\i$ Z`Xc Zfe d\[`f# YXÂ&#x152;f# fkif cfZXc Zfd\iZ`Xc Zfe d\[`f YXÂ&#x152;f p ZfZ`eX p }i\X [\ ^iX[Xj% Gi`d\iX GcXekX 8ckX1 Le ;\gXikXd\ekf Zfe jXcX# Zfd\[fi# ZfZ`eX# [fj [fid`kfi`fj# le YXÂ&#x152;f Zfdgc\kf p }i\X [\ ^iX[Xj% J\^le[X GcXekX 8ckX1 Le ;\gXikXd\ekf Zfe jXcX# Zfd\[fi# ZfZ`eX# [fj [fid`kfi`fj# le YXÂ&#x152;f Zfdgc\kf# }i\X [\ ^iX$ [Xj J@JK<D8 :FEJKIL:K@MF1 X :fejkilZZ`Â?e [\ ?fid`^Â?e 8idX[f [\ ki\j gcXekXj1 :lY`\ikX1 CfjX [\ _fid`^Â?e XidX[f <eki\g`jf1 CfjX [\ _fid`^Â?e XidX[f GXi\[\j1 CXZi`ccf \eclZ`[f G`jfj1 GXm`d\ekX[fj Gl\ikXj [\ \ekiX[X1 D\k}c`ZXj \eifccXYc\j \e cfZXc\j p [\ dX[\iX \e [\gXikXd\ekfj% M\ekXeXj1 ;\ 8cld`e`f p m`[i`f \e gi`d\iX gcXekX XckX# j`e m\ekXeXj \e cX j\^le[X gcXekX XckX% >iX[Xj1 ;\ _fid`^Â?e XidX[f D\jfe\j1 ;\ _fid`^Â?e XidX$ [f < J K8 ; F ;< C 8 J :FEJKIL::@FE<J1 X% :fejkilZZ`Â?e [\ ?fid`^Â?e 8idX[f [\ ki\j gcXekXj I <> L C 8 I =8 CK8 E 8:898;FJ -% F : L G8 E K <J ; < C @EDL<9C<% 8c dfd\ekf [\ cX `ejg\Z$ Z`Â?e g\i`Z`Xc# cX gifg`\[X[ j\ \eZl\ekiX fZlgX[X gfi Xii\e$ [XkXi`fj%
.% 8M8CLF ;< C8 GIFG@<;8; GXiX i\Xc`qXi \c XmXcÂ&#x2019;f [\c `edl\Yc\ _\ kfdX[f \e Zfe$ j`[\iXZ`Â?e cfj j`^l`\ek\j gXi}$ d\kifj kÂ&#x201E;Ze`Zf liYXeÂ&#x2C6;jk`Zf p ZfejkilZk`mf kXc\j Zfdf1 LY`ZXZ`Â?e [\c `edl\Yc\ Zfe i\jg\Zkf Xc j\Zkfi [\ cX Z`l$ [X[% @[\ek`]`ZXZ`Â?e [\c `edl\Yc\ Zfe i\jg\Zkf X cX `dgfikXeZ`X# ZXc`$ [X[# \jkX[f p [\ cXj mÂ&#x2C6;Xj hl\ Z`iZle[Xe \c `edl\Yc\ =fidX p kXdXÂ&#x152;f [\c `edl\Yc\# Gfj`Y`c`[X[\j [\ cf^Â&#x2C6;jk`ZX [\c `edl\Yc\% ;`jgfe`Y`c`[X[ [\ j\im`Z`fj [\ `e]iX\jkilZkliX \e \c `edl\$ Yc\% <jkX[f [\ Zfej\imXZ`Â?e [\c `edl\Yc\ ZfejkilZZ`Â?e % <jkX[f p ZXc`[X[ [\ cfj dXk\$ i`Xc\j lk`c`qX[fj \e cX ZfejkilZ$ Z`Â?e p jlj XZXYX[fj% <jkl[`f [\ gi\Z`fj [\ cfj gi\$ [`fj Z\iZXefj Xc `edl\Yc\ p jl }i\X [\ `e]cl\eZ`X% 8M8CLF KFK8C ;< C8 GIFG@<;8; ;<J:IG:@äE2 8I<8 d)2 :FJKF & L% LJ;2 :FJKF KFK8C LJ;% K<II<EF2 ,'%.'2 ()'%''2 -%'/+#'' :FEJKIL::@FE ?%8% *G2 (,/%,.2 (/'%''2 )/%,+)#-' DFEKF KFK8C 8M8CL8;F *+%-)-#-' LJ; Jfe1 KI<@EK8 P :L8KIF D@C J<@J:@<EKFJ M<@EK< P J<@J Zfe -'&('' ;FC8I<J% :fdf \e cX gifg`\[X[ j\ \eZl\ekiX jlY[`m`[`[X p \c [\dXe[X[f j\ \eZl\ekiX gfj\j`feX[f [\c ((%'0 hl\ c\ Zfii\jgfe[\ p \e [fe[\ j\ \eZl\ekiX Zfejkil`[X cX ZXjX [\jZi`kX p XmXclX[X \e \c gi\$ j\ek\ `e]fid\ gfi cf kXekf1 ((%'0 ;;% 88% 4 *+%-)-#-' LJ; Jfe1 KI<@EK8 P :L8KIF D@C J<@J:@<EKFJ M<@EK< P J<@J Zfe -'&('' ;FC8I<J Gfi kiXkXij\ [\c gi`d\i j\Â&#x152;XcX$ d`\ekf# j\ XZ\gkXi}e gfjkliXj hl\ ZlYiXe cXj [fj k\iZ\iXj gXik\j [\c XmXcÂ&#x2019;f gfi cf d\efj# \e \]\Zk`mf f Z_\hl\ Z\ik`]`ZX$ [f X fi[\e [\c Alq^X[f%$ <c `edl\Yc\ \jkX X ZXi^f [\c ;\gfj`kXi`f Al[`Z`Xc Ji% <ei`hl\ 8i`Xj% Al`Z`f [\ <a\Zlk`mf Ef% '0'/$ )''/ DJ% 8Y% DXi`f CXjjf Fik\^X J<:I<K8I@F ;<C ALQ>8;F M@>yJ@DF :L8IKF ;< CF :@M@C ;< G@:?@E:?8 ?Xp ]`idX p j\ccf 8:&.0-)/&k]
JF:@<;8; :FEPL>8C I<GL9C@:8 ;<C <:L8;FI ALQ>8;F ;<:@DF K<I:<IF ;< CF :@M@C ;< G@:?@E:?8
:@K8:@FE AL;@:@8C 8 C8 J<zFI8 M<IäE@:8 <C@Q89<K? >L8zLE8 CFG<Q <OKI8:KF AL@:@F1 ;@JFCL:@FE ;< C8 JF:@<;8; :FEPL>8C EF% )'('$',+0$M>D 8:KFI1 JI% AL8E =<IE8E;F J8<Q GFD8HL<IF ;<D8E;8;F1 M<IäE@:8 < C @ Q8 9 < K ? > L8 z L E 8 CFG<Q KI8D@K<1 <JG<:@8C :L8EK@81 @E;<K<ID@E8;8 F9A<KF1 J< ;<:C8I< ;@JL<CK8 C8 JF:@<;8; :F E P L >8 C =F I D 8 ;8 <E M@IKL; ;<C 8:KF ;< D8KI@DFE@F%$ ALQ>8;F ;<:@DF K<I:<IF ;< CF :@M@C ;< G@:?@E:?8% Hl`kf# dXik\j )) [\ ale`f [\c )'('# cXj ('_,/%$ M@JKFJ%$ 8mfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ ZXljX \e ZXc`[X[ [\ Al\q Jlgc\ek\ Zfe]fid\ Xc
F]`Z`f ;;G$A8I$'.*. [\ (( [\ dXpf [\ )''.# p \e m`ikl[ [\c XZkX [\ jfik\f hl\ Xek\Z\$ [\%$ CX [\dXe[X gi\j\ekX[X gfi \c j\Â&#x152;fi AlXe =\ieXe[f J}\q GfdXhl\if# \j Zfdgc\$ kX# ZcXiX# gi\Z`jX p i\Â&#x2019;e\ cfj [\d}j i\hl`j`kfj [\ C\p# gfi cf hl\ [\ZcXi}e[fj\cX gifZ\$ [\ek\ j\ cX X[d`k\ Xc ki}d`k\ \jg\Z`Xc \jkXYc\Z`[f \e \c 8ik%$ /(+ p j`^l`\ek\j \c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c%$<e Zfe$ j\Zl\eZ`X# Zfe cX [\dXe[X p gi\j\ek\ gifm`[\eZ`X ZÂ?iiXj\ kiXjcX[f X cX ;\dXe[X[X gfi \c kÂ&#x201E;id`ef [\ ki\j [Â&#x2C6;Xj%$:Â&#x2C6;k\j\ X cX j\Â&#x152;fiX M<IäE@:8 <C@Q89<K? >L8zLE8 CäG<Q# \e cX [`i\Z$ Z`Â?e j\Â&#x152;XcX[X gXiX \c \]\Zkf [\ \jkX Z`l[X[ [\ Hl`kf%$ @eZfigÂ?i\ej\ X cfj Xlkfj \c [fZld\ekf X[alekf%$KÂ?d\j\ efkX [\ cX ZlXekÂ&#x2C6;X p ZXj`cc\$ if al[`Z`Xc j\Â&#x152;XcX[fj gfi \c 8Zkfi gXiX jlj efk`]`ZXZ`fe\j gfjk\i`fi\j# XjÂ&#x2C6; Zfdf \c efd$ YiXd`\ekf p cX Xlkfi`qXZ`Â?e dXe`]\jkX[X \e ]Xmfi [\ jl ;\]\ejfi%$EFK@=@HL<J<%$ =%$ $ ;i% IlYÂ&#x201E;e :\mXccfj =XYXiX%$ ALQ>8;F ;<:@DF K<I:<IF ;< CF :@M@C ;< G@:?@E:?8% Hl`kf# d`Â&#x201E;iZfc\j )) [\ ale`f [\c )'('# cXj '0_+0%$ M@JKFJ%$<e dÂ&#x201E;i`kf Xc aliXd\ekf [\c XZkfi# jfYi\ cX `dgfj`Y`c`[X[ [\ [\k\id`eXi cX `e[`m`[lXc`[X[ p i\j`[\eZ`X [\ cX [\dXe[X[X p [\ Zfe]fid`[X[ hl\ Zfe cf hl\ \jkXYc\Z\ \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# ZÂ&#x2C6;k\j\ X cX j\Â&#x152;fiX M<IäE@:8 <C@Q89<K? >L8zLE8 CFG<Q# gfi cX gi\ejX%$ EFK@=@HL<J<%$ % ;i% IlYÂ&#x201E;e :\mXccfj =XYXiX%$ Cf hl\ Zfdle`Zf X ljk\[ gXiX cfj ]`e\j [\ c\p# gi\m`e`Â&#x201E;e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi ZXj`cc\if al[`Z`Xc gXiX ]lkliXj efk`]`ZXZ`fe\j hl\ c\ Zfii\jgfe[Xe%$ :<IK@=@:F%$ ; I% E @ CF > F E Q8 CF 8CD8:?@ J<:I<K8I@F ;<C ALQ>8;F ;<:@DF K<I:<IF ;< CF :@M@C ;< G@:?@E:?8 ?Xp ]`idX p j\ccf 8:&.0*0'&k]
M8I@FJ ALQ>8;F GI@D<IF ;< CF :@M@C ;< :?@D9FI8QF :@K8:@FE AL;@:@8C
8 CFJ ? < I < ; < IFJ GI<JLEKFJ P ;<J:FEF:@;FJ ;<C ;@=LKF 8>LJK@E I<@EF =CFI<J# j\ c\j _XZ\ ZfefZ\i \c Al`Z`f [\ <OGIFG@8:@FE E% )''-$ '+.+# j\^l`[f \e jl ZfekiX gfi cfj ;ij% @m}e If[i`^f GXqd`Â&#x152;f p ;fi`Xe 9cX[`d`i Fm`\[f 8e[`ef# 8cZXc[\ p GifZliX[fi JÂ&#x2C6;e[`Zf [\c @% Dle`Z`g`f [\ :_XdYf% <OKI8:KF 8:KFI<J% 8cZXc[\ p GifZliX[fi JÂ&#x2C6;e[`Zf [\c @% Dle`Z`g`f [\ :_XdYf% ;<D8E;8;FJ% ?\i\[\ifj Gi\jlekfj p ;\jZfefZ`[fj [\ 8^ljkÂ&#x2C6;e I\`eX =cfi\j% :C8J< ;< A L @ : @ F% <OGIFG@8:@FE KI8D@K<% <JG<:@8C% :L8EK@8% )%.)(%*' :8 J @ C C < IF A L ; @ : @ 8 C 8:KFI<J% E% -) ;i% ;fi`Xe Fm`\[f 8e[`ef AL<Q GI@D<IF ;< CF :@M@C% 8Y% ?l^f M`Z\ek\ 9i`kf 9i`kf GIFM@;<E:@8 ALQ>8;F GI@D<IF ;< CF :@M@C% I`fYXdYX# *' [\ DXpf [\c )''.% CXj (-_('% M`jkfj1 CX [\dXe[X gi\j\ekX[X gfi cfj j\Â&#x152;fi\j1 ;F:KFI<J @M8E IF;I@>F G8QD@zF ELz<Q p ;FI@8E 9C8;@D@I FM@<;F 8E;@EF# \e jlj ZXc`[X[\j [\ 8cZXc[\ p GifZliX[fi JÂ&#x2C6;e[`Zf [\c @cljki\ Dle`Z`g`f [\ :_XdYf# i\jg\Zk`mXd\ek\# Zfdf cf aljk`]`ZX Zfe jlj i\j$ g\Zk`mfj efdYiXd`\ekfj \j ZcXiX# gi\Z`jX# Zfdgc\kX# gfi ZlXekf i\Â&#x2019;e\ cfj i\hl`j`kfj [\ c\p# \e kXc m`ikl[# j\ cX X[d`k\ Xc ki}d`k\ p Xc al`Z`f [\ \ogif$ g`XZ`Â?e%$ :Â&#x2C6;k\j\ X cfj [\dXe$ [X[fj _\i\[\ifj gi\jlekfj p [\jZfefZ`[fj [\c [`]lekf 8>LJK@E I<@E8 =CFI<J# gfi cX gi\ejX# d\[`Xek\ ki\j glYc`$ ZXZ`fe\j hl\ j\ _Xi}e :X[X
leX [\ \ccXj# \e [`jk`ekX ]\Z_X# \e lef [\ cfj g\i`Â?[`Zfj hl\ j\ \[`kXe p [\ Xdgc`X Z`iZlcXZ`Â?e \e cXj Z`l[X[\j [\ I`fYXdYX# Hl`kf p \e \c I\^`jkif F]`Z`Xc2 \e m`ikl[ [\ cfj aliXd\ekfj Zfej`^eX[fj \e \c al`Z`f gfi cfj XZkfi\j# [fe[\ ZfejkXe jlj X]`idXZ`fe\j hl\ \j `dgfj`Yc\ [\k\id`eXi p \jkXYc\Z\i# jfYi\ cXj `e[`m`[lXc`[X[\j p i\j`[\e$ Z`Xj XZklXc\j [\ Xhl\ccfj%$Cfj Z`kX[fj [\ ef ZfdgXi\Z\i X al`Z`f# )' [Â&#x2C6;Xj [\jglÂ&#x201E;j [\ cX Â&#x2019;ck`dX glYc`ZXZ`Â?e# gf[i}e j\i [\ZcXiX[fj f Zfej`[\iX[fj i\Y\c[\% Ă&#x2020;J\ [\j`^eX Xc j\Â&#x152;fi 8ihl`k\Zkf :Xicfj CÂ?g\q M\^X# Zfdf g\i`kf# gXiX hl\ gifZ\[X Xc XmXcÂ&#x2019;f [\c gi\[`f FYa\kf [\ \jk\ al`Z`f [\ \ogifg`XZ`Â?e# hl`\e efk`]`ZXi} c\^Xcd\ek\ j\ gfj\j`feXi} [\c :Xi^f \e \c kÂ&#x201E;id`ef [\ [fj [Â&#x2C6;Xj# \e ZlXc$ hl`\i _fiX _}Y`c\j p gi\j\ekXi} jl `e]fid\ [\ekif [\c kÂ&#x201E;id`$ ef [\ hl`eZ\ [Â&#x2C6;Xj# ZfekX[fj [\j[\ cX gfj\j`Â?e%$ :fdf \c @cljki\ Dle`Z`g`f [\ :_XdYf# _X [\ZcXiX[f [\ lk`c`[X[ gÂ&#x2019;Yc`$ ZX p fZlgXZ`Â?e `ed\[`XkX# \c cfk\ [\ k\ii\ef [\jZi`kf \e cX [\dXe[X# gl\jkf hl\ X[\d}j j\ _X Zfej`^eX[f cX jldX [\ )%.)(#*' [Â?cXi\j \e Z_\hl\ Z\ik`]`ZX[f hl\ j\ _X Zfej`$ [\iX[f Zfdf \c gi\Z`f [\ cX \ogifg`XZ`Â?e# _XjkX hl\ j\ ]`a\ cX ZXek`[X[ \o_fikX hl\ [\Y\ gX^Xij\# [\ Zfe]fid`[X[ Zfe cf [`jgl\jkf \e \c XikÂ&#x2C6;Zlcf .0. [\ :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# j\ Xlkfi`qX Xc @cljki\ Dle`Z`g`f [\ :_XdYf# gXiX hl\ gifZ\[X X cX fZlgXZ`Â?e `ed\[`XkX [\c `edl\Yc\%$ @ejZiÂ&#x2C6;YXj\ gi\$ m`Xd\ek\ cX [\dXe[X \e \c I\^`jkif [\ cX gifg`\[X[ [\c ZXekÂ?e :_XdYf%$ GXiX cX gi}Z$ k`ZX [\ cX [`c`^\eZ`X# j\ [`jgfe\ Zfd`j`feXi Xc j\Â&#x152;fi :fd`jXi`f [\c :XekÂ?e :_XdYf# [\Y`\e[f \em`Xij\ \c Zfii\jgfe[`\ek\ [\jgXZ_f \e ]fidX%$ KÂ?d\j\ \e Zl\ekX cX ZlXekÂ&#x2C6;X# \c ZXj`$ cc\if al[`Z`Xc j\Â&#x152;XcX[f gfi cX gXik\ XZkfiX# hl\ Zfii\jgfe[\ Xc j`^eX[f Zfe \c eÂ&#x2019;d\if -)# XjÂ&#x2C6; Zfdf cX Xlkfi`qXZ`Â?e hl\ j\ Zfe]`\i\ Xc j\Â&#x152;fi ;i% ;fi`Xe Fm`\[f 8e[`ef p X^iÂ&#x201E;^l\j\ Xc gifZ\jf cX [fZld\ekXZ`Â?e XZfdgXÂ&#x152;X[X Ă&#x2020; ?}^Xj\ jXY\i% Ă&#x2020; ] 8Y% ?l^f M% 9i`kf 9% Al\q Gi`d\if [\ cf :`m`c% Cf hl\ gfe^f \e ZfefZ`d`\e$ kf [\c gÂ&#x2019;Yc`Zf p [\ cfj `ek\i\$ jX[fj gXiX cfj ]`e\j c\^Xc\j Zfej`^l`\ek\j# gi\m`e`Â&#x201E;e[fc\j hl\ [\ ef ZfdgXi\Z\i X Al`Z`f _XjkX m\`ek\ [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX Z`kXZ`Â?e [\ gi\ejX# gf[i}e j\i [\ZcXiX[fj f Zfe$ j`[\iX[fj i\Y\c[\j% <c J\Zi\kXi`f >l`cc\idf :Xdgfj MXcc\af% 8%G%&+0()'&b%d% ALQ>8;F GI@D<IF ;< CF :@M@C ;< DFIFE8 J8EK@8>F :@K8:@äE AL;@:@8C
8C J<zFI FJN8C;F :?LKF J< ?8:< J89<I HL< <E <C ALQ>8;F GI@D<IF ;< CF :@M@C p D<I:8EK@C ;< DFIFE8 J8EK@8>F# 8 :8I>F ;<C ;I% D8EL<C :FIFE<C HL<M<;F J< ?8 GI<J<EK8;F LE8 ;<D8E;8 <E JL :FEKI8 :LP8 :FG@8 ;<C <OKI8:KF P ;< C8 GIFM@;<E:@8 <J K8C :FDF J@>L<1 8::@äE ;8zF DFI8C E8KLI8C<Q8 FI;@E8I@F 8:KFI D8I@8 G<KIFE8 K8:F LIHL@Q8 ; < D 8 E ;8 ; F D 8 E L < C GL:LD8 :FIF# D8I:@8C GL:LE8 :FIF# FJN8C;F :?LKF p :ILQ HL@Q?G< D8I@8 GIFM@;<E:@81 >\e\iXc GifXÂ&#x152;f )) [\ [`Z`\dYi\ [\c )'('# X cXj '/?*0%$ M@JKFJ1 8^iÂ&#x201E;^l\j\ X cfj Xlkfj cfj \jZi`kfj hl\ Xek\$ Z\[\e p [fZld\ekXZ`Â?e X[ale$ kX[X p \e dÂ&#x201E;i`kf X cfj d`jdfj p X[\d}j gfihl\ cX [\dXe[X hl\ gfi `e[\de`qXZ`fe\j gfi [XÂ&#x152;f dfiXc# gi\j\ekX[X gfi D8I@8 G<KIFE8 K8:F LIHL@QF# \e ZfekiX [\ GL:LE8 :FIF D8I:@8C# D8EL<C GL:LE8 :FIF# FJN8C;F :?LKF P D8I@8 :ILQ HL@J?G<# gfi i\le`i cfj i\hl`j`kfj [\ ]fidX#
j\ c\ ZXc`]`ZX [\ ZcXiX p Zfdgc\$ kX p j\ XZ\gkX Xc ki}d`k\ fi[`eX$ i`f jfc`Z`kX[f gfi \c XZkfi%$ <e kXc m`ikl[# j\ Zfii\ kiXjcX[f [\ jl Zfek\e`[f X cfj [\dXe[X$ [fj gXiX hl\ \e \c kÂ&#x201E;id`ef [\ hl`eZ\ [Â&#x2C6;Xj [\e Zfek\jkXZ`Â?e X cX [\dXe[X gifgfe`\e[f cXj \oZ\gZ`fe\j hl\ j\ Zi\Xe Xj`jk`[fj# YXaf gi\m\eZ`fe\j [\ i\Y\c[Â&#x2C6;X2 gXiX cf hl\ j\ c\j Z`kXi} Zfe Â&#x201E;jkX [\dXe[X# \e jl [fd`Z`c`f hl\ cf k`\e\ \e \jkX Z`l[X[ [\ DXZXj# [`c`^\eZ`X hl\ cX Zldgc`i} cX f]`Z`eX [\ Z`kXZ`fe\j# X [fe[\ j\ i\d`$ k`i}e cfj Xlkfj%$ KÂ&#x201E;e^Xj\ \e Zl\ekX cX ZlXekÂ&#x2C6;X# ZXj`cc\if al[`Z`Xc j\Â&#x152;XcX[f p cX Xlkfi`qX$ Z`Â?e Zfe]\i`[X X jl 8Yf^X[f ;\]\ejfi%$ ?}^Xj\ jXY\i%$ = ;i% DXel\c :fife\c Hl\m\[f Al\q Gi`d\if [\ cf :`m`c p D\iZXek`c [\ DfifeX JXek`X^f Jlgc\ek\%$ FKI8 GIFM@;<E:@8%$ >\e\iXc GifXÂ&#x152;f ( [\ XYi`c [\c )'((# cXj '0_)0%$ <e m`ikl[ [\ cX [\ZcXiXZ`Â?e Zfe aliXd\ekf hl\ m`\e\ _XZ`\e[f cX [\dXe$ [Xek\ [\ [\jZfefZ\i \c [fd`$ Z`c`f [\c [\dXe[X[f X g\jXi [\ cXj ^\jk`fe\j _\Z_Xj Zfe \jk\ fYa\k`mf# j\ [`jgfe\ j\ Z`k\ Xc [\dXe[X[f FJN8C;F :?LKF# [\ Zfe]fid`[X[ Zfe cf gi\jZi`kf \e \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# \e lef [\ cfj [`Xi`fj hl\ j\ \[`kXe \e cX Z`l[X[ [\ Hl`kf# gl\j gfi cf Zf[\dXe[X[fj j\ ZfefZ\ hl\ k`\e\ jl [fd`Z`c`f \e G`Z_`eZ_X%$ Efk`]Â&#x2C6;hl\j\ = ;i% DXel\c :fife\c Hl\m\[f Al\q Gi`d\if [\ cf :`m`c [\ DfifeX JXek`X^f Jlgc\ek\% 8c [\dXe[X[f j\ c\ gi\m`\e\ [\ cX fYc`^XZ`Â?e [\ j\Â&#x152;XcXi ZXj`ccX al[`Z`Xc \e \jkX Z`l[X[% >\e\iXc GifXÂ&#x152;f ( [\ XYi`c [\c )'((% ;iX% C\fefi :_lhl` Fi\ccXeX J<:I<K8I@8 ;<C ALQ>8;F GI@D<IF ;< CF :@M@C ;< DFIFE8 J8EK@8>F ?Xp le j\ccf 8I&/)//*&ZZ <OKI8:KF AL;@:@8C ALQ>8;F JyGK@DF ;< CF :@M@C ;< G@:?@E:?8
:@K8:@äE AL;@:@8C 81 J @ CM8 E 8 8 C < O 8 E ; I8 >LK@<II<Q DFC@E8 8:KFI1 ;I% 8EKFE@F I8DFE IF;IĂ >L<Q M@:<EJ GIF:LI8;FI AL;@:@8C ;<C 98E:F ;< C8 GIF;L::@äE J%8% GIF;L98E:F ;<D8E;8;81 J@CM8E8 8C<O8E;I8 >LK@<II<Q DFC@E8 AL@:@F1 M<I98C JLD8I@F Ef% '0,0$)''/$<G% KIĂ?D@K<1 M<I98C JLD8I@F :L8EK@81 (%/''#ff LJ; D@C F:?F:@<EKFJ ;äC8I<J ;< CFJ <JK8;FJ LE@;FJ ;< EFIK<8D<I@:8 GIFM@;<E:@81 ALQ>8;F JyGK@DF ;< CF :@M@C ;< G@:?@E:?8% HL@KF# )0 [\ J\gk`\dYi\ [\c )''/# cXj ('_,0%$ M@JKFJ%$ 8mfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ ZXljX# \e d` ZXc`[X[ [\ Al\q K`klcXi [\ \jkX Al[`ZXkliX% CX [\dXe[X hl\ Xek\Z\[\ \j ZcXiX# Zfdgc\kX p i\Â&#x2019;e\ cfj [\d}j i\hl`j`kfj [\ c\p%$ <e Zfej\Zl\eZ`X j\ XZ\gkX \c ki}$ d`k\ M\iYXc JldXi`f% <e dÂ&#x201E;i`kf [\c aliXd\ekf i\Xc`qX[f gfi \c XZkfi \e \c hl\ dXe`]`\jkX cX `dgfj`Y`c`[X[ [\ [\k\id`eXi cX `e[`m`[lXc`[X[ f i\j`[\eZ`X [\c [\dXe[X[f# p [\ Zfe]fid`[X[ Zfe cf hl\ [`jgfe\ \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c :f[`]`ZX[f# ZÂ&#x2C6;k\j\ X cX [\dXe[X[X j\Â&#x152;fiX J@CM8E8 8C<O8E;I8 >LK@<II<Q DFC@E8# gfi cX gi\ejX \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZl$ cXZ`Â?e hl\ j\ \[`kXe \e \jkX Z`l[X[ [\ Hl`kf% 8^iÂ&#x201E;^l\j\ Xc gifZ\jf cfj [fZld\ekfj XZfd$ gXÂ&#x152;X[fj% KÂ&#x201E;e^Xj\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc j\Â&#x152;XcX[f% Gfi ZXdY`f X[d`e`jkiXk`mf [\c J\Zi\kXi`f K`klcXi# XZkÂ&#x2019;\ \c ;i% AlXe GXYcf Kfif :Xii`ccf# J\Zi\kXi`f \eZXi^X[f [\ \jkX Al[`ZXkliX d\[`Xek\ XZZ`Â?e [\ g\ijfeXc Ef% ,)' ;G$;;G% EFK@=@HL<J<%$ = ;i% IXÂ&#x2019;c DXi`Â&#x152;f ?\ie}e[\q% Al\q Cf hl\ Zfdle`Zf X ljk\[ gXiX cfj ]`e\j [\ c\p# gi\m`e`Â&#x201E;e[fc\
[\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi ZXj`ccX al[`Z`Xc# [\ekif [\c g\iÂ&#x2C6;d\kif p \e cX ]fidX \jkXYc\Z`[X gfi cX c\p% 8K<EK8D<EK< ;I% AL8E G89CF KFIF :8II@CCF J<:I<K8I@F < ?Xp le j\ccf 8I&/)0'.&ZZ I<Gè9C@:8 ;<C <:L8;FI ALQ>8;F ;y:@DF ;< CF :@M@C ;< G@:?@E:?8
<OKI8:KF AL;@:@8C :@K8:@äE AL;@:@8C 81 ?<I<;<IFJ GI<JLEKFJ P ;<J:FEF:@;FJ ;< E@:FCĂ?J <EI@HL< DFI8C<J E8M8J 8:KFI<J1 ;I% AL8E :8ICFJ D F I8 C <J D FJ H L < I8 8:FJK8# D8I>8I@K8 ;<C IF:@F DFI8C<J DFJHL<I8# DPI@8D <L><E@8 DFI8C<J DFJHL<I8 ; < D 8 E ;8 ; F J 1 I F J8 D8K@C;< DFJHL<I8 8:FJK8# 8C<O8E;I8 <C@Q89<K? DFI8C<J DFJHL<I8# 8 E @ K8 D 8 > ; 8 C < E 8 DFI8C<J DFJHL<I8# ; 8M @ ; 8 C < O 8 E ; < I DFI8C<J DFJHL<I8# D8I:FJ A F E 8K ? 8 E DFI8C<J DFJHL<I8# G8KI@:@F <EI@HL< DFI8C<J DFJHL<I8# AL8E :8ICFJ DFI8C<J DFJHL<I8# D8I>8I@K8 ;<C IF:Ă F DFI8C<J DFJHL<I8# DPI@8D <L><E@8 DFI8C<J DFJHL<I8% AL@:@F ;< @EM<EK8I@FJ Ef% (*0-$)'('$<>% KIĂ?D@K<1 <JG<:@8C :L8EKĂ 81 @e[\k\id`eX[X =LE;8D<EKF C<>8C1 8ik% -)0 p j`^l`\ek\j [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c% 89F>8;F ;<=<EJFI1 ;i% 8E><C 8CD<@;8 :8J@CC8 AL;@:@8C Ef% *'-. ALQ>8;F ;y:@DF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# d`Â&#x201E;iZfc\j )' [\ fZklYi\ [\c )'('# cXj ((_(-%$ M@JKFJ%$ Gi\m`f jfik\f [\ c\p Zfii\jgfe$ [`\ek\# XmfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ ZXljX \e d` ZXc`[X[ [\ Al\q [\ \jkX al[`ZXkliX%$ <e cf gi`eZ`gXc# cX [\dXe[X hl\ Xek\Z\[\ \j ZcXiX p i\Â&#x2019;e\ cfj i\hl`j`kfj [\ C\p# gfi cf hl\ [\ZcXi}e[fj\cX gifZ\[\ek\ j\ cX XZ\gkX Xc ki}d`k\ jfc`$ Z`kX[f%$ <e Zfej\Zl\eZ`X [\ Zfe]fid`[X[ Zfe \c 8ik% -)0 [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# j\ [`jgfe\ j\ gifZ\[X X cX ]fidXZ`Â?e [\ `em\ekXi`f [\ cfj Y`\e\j [\aX[fj gfi \c j\Â&#x152;fi E`Zfc}j <ei`hl\ DfiXc\j EXmXj%$ CXj gXik\j [\Y\i}e `ej`elXi \c efdYi\ [\ le g\i`kf%$ ;\ Zfe]fid`[X[ X cf [`jgl\jkf \e \c 8ik% ()+, [\c :Â?[`^f :`m`c \e ZfeZfi[XeZ`X Zfe \c 8ik% -'* [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# j\ j\Â&#x152;XcX gXiX \c [Â&#x2C6;X el\m\ [\ Efm`\dYi\ [\c gi\j\ek\ XÂ&#x152;f X cXj ('_'' X ]`e [\ hl\ j\ i\Xc`Z\ cX ^lXi[X [\ cfj dl\Yc\j p gXg\c\j [\ cX jlZ\j`Â?e gXiX cf ZlXc \c Al\q [\ j\i e\Z\jXi`f ZfekXiX Zfe cX Xpl[X [\ cX =l\iqX gÂ&#x2019;Yc`ZX \e kXc m`ikl[ f]Â&#x2C6;Z`\j\ X [`Z_X @ejk`klZ`Â?e X ]`e [\ hl\ gi\j$ k\e cX Xpl[X e\Z\jXi`X% ;\ Zfe]fid`[X[ Xc 8ik% (''' [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c `ejZiÂ&#x2C6;YXj\ cX gi\j\ek\ [\dXe$ [X kXekf \e cfj I\^`jkifj [\ cX Gifg`\[X[ [\c :XekÂ?e Hl`kf p JlZi\ gXiX cf ZlXc [\giÂ&#x201E;$ hl\j\ X lef [\ cfj j\Â&#x152;fi\j al\Z\j [\ cf :`m`c [\ DXeXYÂ&#x2C6;2 p \e \c I\^`jkif D\iZXek`c [\ Hl`kf Zfdf \e cX A\]XkliX [\ Ki}ej`kf% ;\ Zfe]fid`[X[ Zfe cf [`jgl\jkf \e \c 8ik% )00 [\c :Â?[`^f :`m`c# j\ ZfeZ\[\ cX m\e`X X cfj XZZ`feXek\j gXiX gf[\i [\dXe[Xi X jl dX[i\% :Â&#x2C6;k\j\ \e c\^Xc p [\Y`[X ]fidX X cfj [\dXe[X[fj1 IfjX DXk`c[\ Dfjhl\iX 8ZfjkX# 8c\oXe[iX <c`qXY\k_ DfiXc\j Dfjhl\iX p DXiZfj AfeXk_Xe DfiXc\j Dfjhl\iX# 8e`kX DX^[Xc\eX DfiXc\j Dfjhl\iX \e cXj [`i\Z$ Z`fe\j j\Â&#x152;XcX[Xj gXiX [`Z_f \]\Zkf2 Xc [\dXe[X[f ;Xm`[ 8c\oXe[\i DfiXc\j Dfjhl\iX j\ cf Z`kXi} \e cX [`i\ZZ`Â?e j\Â&#x152;XcX[X gXiX cf ZlXc [\giÂ&#x201E;$ hl\j\ X lef [\ cfj j\Â&#x152;fi\j Al\Z\j [\ cf :`m`c [\ >lXpXhl`c#
Xc [\dXe[X[f GXki`Z`f <ei`hl\ DfiXc\j Dfjhl\iX j\ cf Z`kXi} \e \c cl^Xi `e[`ZX[f gXiX cf ZlXc [\giÂ&#x201E;hl\j\ X lef [\ cfj j\Â&#x152;fi\j al\Z\j [\ cf :`m`c [\ DXeXYÂ&#x2C6;%$ :lÂ&#x201E;ek\j\ Zfe \c j\Â&#x152;fi GifZliX[fi [\ JlZ\j`fe\j%$ <e d\i`kf Xc 8ik% ,) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# eÂ?dYiX$ j\ Zfdf GifZliX[fi :fdÂ&#x2019;e [\ cfj XZkfi\j AlXe :Xicfj# DXi^Xi`kX [\c IfZÂ&#x2C6;f p Dpi`Xd <l^\e`X DfiXc\j Dfjhl\iX Xc j\Â&#x152;fi AlXe :Xicfj DfiXc\j Dfjhl\iX%$ ;\ Zfe]fid`[X[ Zfe \c 8ik% /) [\c Zl\igf c\^Xc Xek\j d\eZ`feX[f ZÂ&#x2C6;k\j\ X cfj _\i\[\ifj gi\jlekfj p [\j$ ZfefZ`[fj [\c j\Â&#x152;fi E`Zfc}j <ei`hl\ DfiXc\j EXmXj# gfi d\[`f [\ cX gi\ejX \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcXZ`Â?e%$ :lÂ&#x201E;ek\j\ Zfe \c GifZliX[fi [\ JlZ\j`fe\j [\c J\im`Z`f [\ I\ekXj @ek\ieXj% Cf jfc`Z`kX[f [\ekif [\ cXj g\k`Z`fe\j1 \e eld\iXc * j\i} gifm\Â&#x2C6;[f \e jl dfd\ekf fgfiklef2 J\ e`\^X cf jfc`Z`kX[f \e eld\iXc .# / p (( gfi `dgifZ\[\ek\2 j\ e`\^X cf jfc`Z`kX[f \e eld\iXc (' gfi ef j\i cX eXkliXc\qX [\ cX ZXljX% KÂ&#x201E;e^Xj\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc j\Â&#x152;XcX[f gXiX gfjk\$ i`fi\j efk`]`ZXZ`fe\j2 XjÂ&#x2C6; Zfdf cX Xlkfi`qXZ`Â?e Zfe]\i`[X X jl XYf^X[f [\]\ejfi%$ 8^iÂ&#x201E;^l\j\ X cfj Xlkfj cX [fZld\ekXZ`Â?e XgXi\aX[X X cX [\dXe[X%$ :Â&#x2C6;k\j\ p Efk`]Â&#x2C6;hl\j\%$ = ;I% AFJy D8IKĂ E<Q E8I8EAF% AL<Q Cf hl\ c\ Zfdle`Zf X ljk\[ p c\ Z`kf gXiX cfj ]`e\j [\ c\p g\ik`e\ek\j# gi\m`e`Â&#x201E;e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ \e j\Â&#x152;X$ cXi ZXj`cc\if al[`Z`Xc gXiX jlj ]lkliXj efk`]`ZXZ`fe\j%$ :\ik`]`Zf%$ ;i% <[^Xi ?Xif MXc\eql\cX J<:I<K8I@F ;<C ALQ>8;F ;y:@DF ;< CF :@M@C ;< G@:?@E:?8 8G&+0(.*&ZZ <OKI8:KF C@HL@;8:@äE ;< C8 JF:@<;8; :FEPL>8C ;< CFJ :FEPL><J1
8E><C D8LI@:@F J8C8Q8I >FD<Q P 8E@K8 >I8:@<C8 >I8E;8 J8E;FM8C EFK8I@8 M@><J@DF J<GK@D8 ;<C :8EKFE HL@KF1 Gfe^f \e ZfefZ`d`\ekf [\c gÂ&#x2019;Yc`Zf hl\ d\[`Xek\ \jZi`kl$ iX gÂ&#x2019;Yc`ZX fkfi^X[X Xek\ d`# ;F:KFI =<IE8E;F GFCF <CD@I# EFK8I@F M@><J@DF J<GK@DF ;<C :8EKFE HL@KF# cfj j\Â&#x152;fi\j1 8E><C D8LI@:@F J8C8Q8I >FD<Q P 8E@K8 >I8:@<C8 >I8E;8 J8E;FM8C# gifZ\[`\ife X c`hl`[Xi \c gXki`dfe`f [\ cX JfZ`\[X[ :fepl^Xc# cX d`jdX hl\ ]l\iX [`jl\ckX d\[`Xek\ j\ek\eZ`X [`ZkX[X gfi \c Al\q :lXikf [\ cf :`m`c [\ G`Z_`eZ_X# Zfe ]\Z_X m\`ek\ p lef [\ ]\Yi\if [\c [fj d`c fZ_f% CXj X[al[`ZXZ`fe\j [\c gXki`dfe`f j\ \eZl\ekiXe [\kXccX[Xj \e \c k\okf [\ cX \jZi`kliX gÂ&#x2019;Yc`$ ZX [\ c`hl`[XZ`Â?e [\ jfZ`\$ [X[ Zfepl^Xc Z\c\YiX[X Xek\ d`# Zfe ]\Z_X m\`ek\ p el\m\ )0 [\ XYi`c [\c XÂ&#x152;f [fj d`c feZ\# gfi cf hl\ \e Xgc`ZXZ`Â?e X cf [`jgl\jkf \e \c 8ikÂ&#x2C6;Zlcf J\okf [\ cX C\p I\]fidXkfi`X X cX C\p EfkXi`Xc# glYc`ZX[X \e \c I\^`jkif F]`Z`Xc eÂ&#x2019;d\if :lXkifZ`\ekfj j\`j [\ ]\Z_X m\`ek\ p fZ_f [\ Efm`\dYi\ [\c [fj d`c j\`j# hl\ ]XZlckX X cfj EfkXi`fj [`jgfe\ cX `ej$ Zi`gZ`Â?e \e cfj I\^`jkifj [\ cX Gifg`\[X[ p D\iZXek`c\j Zfii\jgfe[`\ek\j# cX \jZi`kliX [\ cX c`hl`[XZ`Â?e [\ cX JfZ`\[X[ :fepl^Xc# gi\m`f \c ki}d`k\ gi\m`jkf \e [`Z_X efidX c\^Xc% D\[`Xek\ leX jfcX glYc`ZXZ`Â?e# \e lef [\ cfj g\i`Â?[`Zfj [\ Z`i$ ZlcXZ`Â?e EXZ`feXc# \c \okiXZkf [\ cX c`hl`[XZ`Â?e [\c gXki`df$ e`f [\ cX jfZ`\[X[ Zfepl^Xc Zfii\jgfe[`\ek\ X cfj j\Â&#x152;fi\j 8E><C D8LI@:@F J8C8Q8I >FD<Q P 8E@K8 >I8:@<C8 >I8E;8 J8E;FM8C# fkfi^X$ [X d\[`Xek\ \jZi`kliX gÂ&#x2019;Yc`ZX Xek\j `e[`ZX[X# gfi \c kÂ&#x201E;id`ef [\ m\`ek\ )' [Â&#x2C6;Xj# X ]`e [\ hl\ cXj g\ijfeXj hl\ \m\eklXc$ d\ek\ klm`\i\e `ek\iÂ&#x201E;j \e \jkX c`hl`[XZ`Â?e gl\[Xe gi\j\ekXi
jl fgfj`Z`Â?e ]le[Xd\ekX[X# [\ekif [\c i\]\i`[f kÂ&#x201E;id`ef% GXik`ZlcXi hl\ gfe^f \e Zfef$ Z`d`\ekf gXiX cfj ]`e\j c\^Xc\j Zfii\jgfe[`\ek\j% Hl`kf# ki\Z\ [\ dXpf [\c [fj d`c feZ\% ;I% =<IE8E;F GFCF <CD@I EFK8I@F M@><J@DF J<GK@DF ;<C :8EKFE HL@KF ?Xp ]`idX p j\ccf 8:&.0-)0&k] ;I% >89I@<C :F9F L% EFK8I@F M@><J@DF K<I:<IF
<OKI8:KF EFK8Ic8 M@>yJ@DF K<I:<I8 ;< HL@KF1 :Â&#x2019;dgc\d\ gfe\i \e ZfefZ`d`\ekf [\c gÂ&#x2019;Yc`$ Zf hl\ d\[`Xek\ \jZi`kliX gÂ&#x2019;Yc`ZX fkfi^X[X Xek\ \c ;i% >XYi`\c :fYf Lihl`qf# EfkXi`f M`^Â&#x201E;j`df K\iZ\if [\c :XekÂ?e Hl`kf# \c ', [\ DXpf [\c )'((# cfj \o ZÂ?epl^\j j\Â&#x152;fi ;8E@<C IF9<IKF >L8:?8D@E IL8C<J p j\Â&#x152;fiX <JG<I8EQ8 EF<D@ ;<C>8;F =CFI<J# Â&#x201E;jkX Â&#x2019;ck`dX X kiXmÂ&#x201E;j [\ jl dXe[XkXi`f \c j\Â&#x152;fi ><E8IF 8IKLIF ;<C>8;F >I@A8CM8# gifZ\[`\ife X c`hl`[Xi \c gXki`$ dfe`f [\ cX jfZ`\[X[ Zfepl^Xc cX d`jdX hl\ ]l\iX [`jl\ckX d\[`Xek\ j\ek\eZ`X [\ [`mfi$ Z`f [`ZkX[X gfi \c j\Â&#x152;fi Al\q ;Â&#x201E;Z`df K\iZ\if [\ cf :`m`c [\ G`Z_`eZ_X \c (' [\ 8^fjkf [\c )'('# `ejZi`kX \e \c I\^`jkif :`m`c \c - [\ J\gk`\dYi\ [\@ )'('% CXj X[al[`ZXZ`fe\j [\c gXki`$ dfe`f j\ \eZl\ekiXe [\kXccX[Xj \e \c k\okf [\ X i\]\i`[X \jZi`$ kliX gÂ&#x2019;Yc`ZX [\ C`hl`[XZ`Â?e [\ JfZ`\[X[ :fepl^Xc# gfi cf hl\ \e Xgc`ZXZ`Â?e X cf [`j$ gl\jkf \e \c 8ik% - [\ cX C\p I\]fidXkfi`X X cX C\p EfkXi`Xc# glYc`ZX[X \e \c I\^`jkif F]`Z`Xc Ef% +'- [\ )/ [\ Efm`\dYi\ [\c )''-# hl\ X jl m\q i\]fidX \c 8ik% (/ [\ cX C\p EfkXi`Xc X^i\^Xe[f mXi`fj eld\iXc\j# \eki\ cfj ZlXc\j \c eld\iXc )* ]XZlckX Xc EfkXi`f [`jgfe\i cX `ejZi`gZ`Â?e \e cfj I\^`jkifj [\ cX Gifg`\[X[ p D\iZXek`c\j# cX \jZi`kliX [\ C`hl`[XZ`Â?e [\ JfZ`\[X[ :fepl^Xc# gi\m`f \c ki}d`k\ gi\m`jkf \e [`Z_X efidX c\^Xc# gfe^f \e ZfefZ`$ d`\ekf [\c gÂ&#x2019;Yc`Zf# d\[`Xek\ cX glYc`ZXZ`Â?e# \c <okiXZkf [\ cX C`hl`[XZ`Â?e [\c GXki`dfe`f [\ cX JfZ`\[X[ :fepl^Xc Zfii\jgfe[`\ek\ X cfj \o ZÂ?e$ pl^\j j\Â&#x152;fi ;8E@<C IF9<IKF >L8:?8D@E IL8C<J p j\Â&#x152;fiX <JG<I8EQ8 EF<D@ ;<C>8;F =CFI<J# fkfi^X[X d\[`Xek\ \jZi`kliX gÂ&#x2019;Yc`ZX [\ ', [\ DXpf [\c )'(( Xek\ \c jljZi`$ kf ;i% >XYi`\c :fYf Lihl`qf# EfkXi`f M`^Â&#x201E;j`df K\iZ\if [\c :XekÂ?e Hl`kf# gfi \c kÂ&#x201E;id`ef [\ m\`ek\ )' [Â&#x2C6;Xj X ZfekXij\ [\j[\ cX ]\Z_X [\ cX glYc`ZXZ`Â?e [\ \jk\ \okiXZkf# X ]`e [\ hl\ cXj g\ijfeXj hl\ \m\eklXcd\ek\ klm`\i\e `ek\iÂ&#x201E;j \e \jkX c`hl`$ [XZ`Â?e gl\[Xe gi\j\ekXi jl fgfj`Z`Â?e ]le[Xd\ekX[X# [\e$ kif [\c i\]\i`[f kÂ&#x201E;id`ef% GXik`ZlcXi hl\ gfe^f \e Zfef$ Z`d`\ekf gXiX cfj ]`e\j c\^Xc\j Zfii\jgfe[`\ek\j% Hl`kf# X (( [\ DXpf [\c )'((% ;F:KFI >89I@<C :F9F LIHL@QF EFK8I@F M@><J@DF K<I:<IF ;< CF :@M@C ;< G@:?@E:?8 ?Xp ]`idX p j\ccf 8:&.0-)+&k] ALQ>8;F K<I:<IF ;< CF :@M@C ;< G@:?@E:?8
:@K8:@FE AL;@:@8C 8 AF?8E8 8C<O8E;I8 C<äE JĂ?E:?<Q <OKI8:KF AL@:@F% < J G < : @ 8 C ;@JFCL:@äE ;< C8 JF:@<;8; :FEPL>8C 8:KFI% <;>8I ><FM8EEP =<IEĂ?E;<Q 9<E8M@;<J ;<D8E;8;F% AF?8E8 8C<O8E;I8 C<äE JĂ?E:?<Q KI8D@K<% M<I98C JLD8I@F :8LJ8 Ef% ('-($)'('$AM=$ I:F :L8EK@8% @E;<K<ID@E8;8 Ă&#x2C6;ALQ>8;F K<I:<IF ;< CF :@M@C ;< G@:?@E:?8% Hl`kf# al\m\j )/ [\ XYi`c [\c )'((# cXj ('_)0%$ M@JKFJ1 8mfZf ZfefZ`d`\ekf [\ cX ZXljX \e
IÂ&#x152;be bei Xk[dei i[dj_c_[djei fk[Z[d kd_hdei" [b _dj[hÂ&#x192;i `Wc|i ^W \eh`WZe kd_ed[i ZkhWZ[hWi$ 7K=KIJ; 9ECJ;
ZXc`[X[ [\ Al\q k`klcXi [\ \jkX Al[`ZXkliX2 p# \e m`ikl[ [\c jfi$ k\f i\jg\Zk`mf%$ <e cf gi`eZ`gXc# cX [\dXe[X hl\ Xek\Z\[\ \j ZcXiX# gi\Z`jX p i\Â&#x2019;e\ cfj [\d}j i\hl`j`kfj [\ c\p%$ <e Zfej\$ Zl\eZ`X# j\ XZ\gkX X kiXd`k\ \jg\Z`Xc%$ 8k\ekf Xc aliXd\ekf i\e[`[f gfi <[^Xi >\fmXeep =\ie}e[\q 9\eXm`[\j2 p# [\ Zfe]fid`[X[ Zfe \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# ZÂ&#x2C6;k\j\ X Af_XeX 8c\oXe[iX C\Â?e J}eZ_\q gfi cX gi\ejX \e lef [\ cfj g\i`Â?[`Zfj [\ dXpfi Z`iZlcXZ`Â?e [\ cX Z`l[X[ [\ Hl`kf%$ 8^iÂ&#x201E;^l\j\ cfj [fZl$ d\ekfj%$ I\^Â&#x2C6;jki\j\ \c ZXj`cc\if al[`Z`Xc j\Â&#x152;XcX[f p cX Xlkfi`qX$ Z`Â?e ZfeZ\[`[X X jl 8Yf^X[f [\]\ejfiĂ&#x2030;%$ Efk`]Â&#x2C6;hl\j\% ;i% Alc`f :\jXi 8dfi\j IfYXc`ef% Al\q% Cf hl\ Zfdle`Zf gXiX cfj ]`e\j [\ c\p# gi\m`e`Â&#x201E;e[fc\ [\ cX fYc`^XZ`Â?e [\ j\Â&#x152;XcXi ZXj`$ cc\if al[`Z`Xc gXiX gfjk\i`fi\j efk`]`ZXZ`fe\j%$ 8k\ekXd\ek\# ;i% Afi^\ GXcXZ`fj ?% J<:I<K8I@F ;<C ALQ>8;F K<I:<IF ;< CF :@M@C ;< G@:?@E:?8 ?Xp ]`idX p j\ccf 8:&.0,-)&k] ALQ>8;F F:K8MF :@M@C :L<E:8 :@K8:@FE AL;@:@8C
8 Q?8E> 9@E j\ _XZ\ jXY\i hl\ \e \jk\ Alq^X[f X ZXi^f [\c ;i% >ljkXmf 8cd\`[X 9\id\f Al\q _X Zfii\jgfe[`[f leX [\dXe[X \e jl ZfekiX# cX d`jdX hl\ \e \okiXZkf alekf Zfe gifm`[\eZ`X i\ZXÂ&#x2C6;[X \j Zfdf j`^l\1 E8KLI8C<Q8 M\iYXc JldXi`f D8K<I@8 [`mfiZ`f :L8EK@8 @e[\k\id`eX[X A%E% *(*$(( GIFM@;<E:@8# :l\eZX# / [\ XYi`c [\ )'((2 cXj '/_'(% M@JKFJ1 CX [\dXe[X hl\ gifZ\[\ p hl\ Zfe ]le[X$ d\ekf \e \c 8ik% ((' ZXljXc (( ) p ((/ [\c :Â?[`^f :`m`c# gif$ gfe\ \c ;I% D@>L<C :I<JGF :I<JGF gifZliX[fi al[`Z`Xc [\ :L<JK8 J8ED8IK@E JFE@8 D8I>FK? ZfekiX Q?8E> 9@E \j ZcXiX p Zfdgc\kX# gfi cf hl\ j\ cX X[d`k\ X ki}d`k\ m\iYXc jldXi`f# Zfe]fid\ Xc dXe[Xkf c\^Xc [\c 8ik% /)/ p j`^l`\ek\j [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c%$ :Â&#x2C6;k\j\ Xc [\dXe[X[f gfi cX gi\ejX p \e cX ]fidX \jZi`kX \e cX c\p# 8ik% /) `YÂ&#x2C6;[\d# gXiX hl\ ZfdgXi\qZX X al`Z`f p gl\[X \a\iZ`kXi \c [\i\Z_f hl\ j\ Zi\p\i\ Xj`jk`[f% 8^iÂ&#x201E;^l\j\ Xc gifZ\jf cX [fZld\ekXZ`Â?e gi\j\ekX[X2 cX ZlXekÂ&#x2C6;X ]`aX[X# cX ZXc`[X[ Zfe cX hl\ ZfdgXi\Z\ cX XZZ`feXek\2 efk`]Â&#x2C6;hl\j\ \e cX ZXj`ccX al[`Z`Xc j\Â&#x152;XcX[X \e Zl\ekX cX Xlkfi`qXZ`Â?e ZfeZ\$ [`[X% :Â&#x2C6;k\j\ p efk`]Â&#x2C6;hl\j\% ]% ;i% >ljkXmf 8cd\`[X 9\id\f Al\q%$ 8 cX Z`kX[X j\ c\ gi\m`\$ e\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi ZXj`ccX al[`Z`Xc gXiX hl\ gl\[X i\Z`Y`i gfjk\i`fi\j efk`]`ZXZ`fe\j% :l\eZX# (* XYi`c [\ )'((% ?Xp j\ccf p ]`idX 8%:%&.0,0) I% ;<C <% <OKI8:KF ;< GL9C@:8:@FE AL@:@F ;< KI898AF KIĂ?D@K< FI8C (.*,+$)'(($ '(*'C9
8:KFI%$ N@CJFE =<IE8E;F IF98C@EF KFII<J ;<D8E;8;F%$ AFE8K?8E ;8M@; ;< M<@EK<D@CC8 898; :L8EKĂ 8%$ (,%'''# ff LJ; KI8D@K<%$ FiXc :@K8:@FE 81 Ji% AFE8K?8E ;< M<@EK@D@CC8 898; 8LKF%$ ALQ>8;F :L8IKF ;< KI898AF ;< G@:?@E:?8%$ Hl`kf# dXik\j ( [\ dXiqf [\c
)'((# cXj (._,(%$ $ M@JKFJ1 <e m`ikl[ [\c jfik\f Zfii\jgfe$ [`\ek\# ;i% =XY`}e <jZXcXek\ Ă?cmXi\q# XmfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ ZXljX# \e d` ZXc`[X[ [\ Al\q Jlgc\ek\ [\ \jk\ [\jgXZ_f c\^Xcd\ek\ gfj\j`feX[f%$ <e cf gi`eZ`gXc# cX [\dXe[X hl\ Xek\Z\[\ \j ZcXiX# gi\Z`jX p i\Â&#x2019;e\ cfj [\d}j i\hl`j`kfj [\ C\p%$ KiXdÂ&#x2C6;k\j\ \e gifZ\[`d`\ekf fiXc# [\ Zfe]fid`[X[ Zfe \c 8ik% ,., p j`^l`\ek\j [\c :Â?[`^f [\c KiXYXaf%$ :Â&#x2C6;k\j\ X AFE8K?8E ;< M<@EK@D@CC8 898;# gfi jlj gifg`fj p g\ijfeXc\j [\i\$ Z_fj p gfi cfj hl\ i\gi\j\ekÂ? \e ZXc`[X[ [\ gifg`\kXi`f [\ cXj ;`jZfk\ZXj KFE@: :CL9# :@KP :CL9# KLK :CL9 p N8D :CL9# p [\ cX :fdgXÂ&#x152;`X A8B< 9LJJ@E<J >IFLG J%8%# p gfi cfj hl\ i\gi\j\ekX XZklXcd\e$ k\# \e ZXc`[X[ [\ gifg`\kXi`f [\ cX XZklXc ;`jZfk\ZX Ă&#x2C6;;FE AL8E 9FK<CC8JĂ&#x2030;# \e \c cl^Xi hl\ j\ `e[`ZX# gXiX cf ZlXc# i\dÂ&#x2C6;kXj\ \c gifZ\jf X cX JXcX [\ :`kXZ`fe\j# X ]`e [\ hl\ j\ ZldgcX Zfe cX Z`kXZ`Â?e [\ cX gXik\ [\dXe[X[X \e \c kÂ&#x201E;id`ef [\ Z`eZf [Â&#x2C6;Xj# gi\m`jkf \e \c ,.-# `eZ`jf j\^le[f [\c :Â?[`^f d\eZ`feX[f%$ ?\Z_f# hl\ j\X# i\XcÂ&#x2C6;Z\j\ cX Xl[`\eZ`X gi\c`d`$ eXi# Zfek\jkXZ`Â?e X cX [\dXe[X p ]fidlcXZ`Â?e [\ gil\YXj# X cX hl\ ZfeZlii`i}e cXj gXik\j \e ]fidX g\ijfeXc f gfi `ek\id\$ [`f [\ GifZliX[fi Al[`Z`Xc Zfe gf[\i \jg\Z`Xc Xdgc`f p jl]`$ Z`\ek\ gXiX kiXej`^`i# \c [Â&#x2C6;X ) [\ Ale`f [\c )%'((# X cXj (+_)'%$ CX Zfek\jkXZ`Â?e X cX [\dXe[X j\i} ]fidlcX[X gfi \jZi`kf j\^Â&#x2019;e cf [`jgl\jkf \e \c 8ik% ,.- `eZ`jf gi`d\if [\c :Â?[`^f [\c KiXYXaf%$ J\ c\ gi\m`\e\ X cX gXik\ [\dXe[X[X hl\ k`\e\ cX fYc`^XZ`Â?e [\ j\Â&#x152;XcXi ZXj`cc\if Al[`Z`Xc [\ekif [\c g\iÂ&#x2C6;d\kif c\^Xc%$ K\e^Xj\ \e Zl\ekX cX ZlXekÂ&#x2C6;X ]`aX[X# p # \c ZXj`cc\if Al[`Z`Xc Ef% ,()* [\c ;i% Cl`j Kfii\j 9fe`ccX # j\Â&#x152;XcX[f gXiX gfjk\i`fi\j efk`]`ZXZ`fe\j%$ :Â&#x2C6;k\j\ p Efk`]Â&#x2C6;hl\j\%$ ALQ>8;F :L8IKF ;< KI898AF ;< G@:?@E:?8%$ Hl`kf# m`\ie\j / [\ XYi`c [\c )'((# cXj ('_+)%$ <e cf Gi`eZ`gXc Xk\ekf cf dXe`]\j$ kX[f gfi cX gXik\ XZkfiX \e \c \jZi`kf ZfejkXek\ \e \c gifZ\$ jf# i\ZfefZ`d`\ekf p aliXd\e$ kf [\c d`jdf# :@K<J< Zfe cX gi\j\ek\ ZXljX Xc [\dXe[X[f j\Â&#x152;fi A?FE8K8E ;8M@; ;< M<@EK<D@CC8 898;# gfi cX gi\ejX \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcXZ`Â?e [\ cX Z`l[X[# [\ Zfe]fid`[X[ Zfe cf hl\ [`jgfe\ \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c%$EFK@=@HL<J<%$ ] %$ ;I% =89@8E <J:8C8EK< 8CM8I<Q# AL<Q JLGC<EK<% Cf hl\ Zfdle`Zf X ljk\[ gXiX cfj ]`e\j [\ c\p ;I% D8I@F D<A@8 8IIF98 J<:I<K8I@F ?Xp ]`idX p j\ccf 8:&.0*+-&k] I% ;<C <% ALQ>8;F GI@D<IF ;<C KI898AF ;< G@:?@E:?8 FI8C
<OKI8:KF Al`Z`f [\ KiXYXaf FiXc Ef )*($ )'(' 8Zkfi1 D8EL<C IF;FC=F I<P<J >LQD8E ;\dXe[X[f1 :I@JK@E8 >8I8P ;< D<CF :L8EK@81 LJ; +,%''' @e`Z`f1 (+ [\ 8Yi`c [\c )''0 ;\]\ejfi1 ;i% FdXi ?\ii\iX :8J@CC<IF1 *).- Al\q1 8Y% <c`qXY\k_ :}i[\eXj :fifeX[f J\Zi\kXi`f1 8Y% >iXZ`\cX 9\kXeZflik GIFM@;<E:@81 ALQ>8;F GI@D<IF ;<
KI898AF ;< G@:?@E:?8%$ M@JKFJ%$ Hl`kf# m`\ie\j (+ [\ dXpf [\c )'('# cXj (,_*'%$ M@JKFJ1 ;i% I\e\ :fife\c ;fdÂ&#x2C6;e^l\q# \e d` ZXc`[X[ [\ Al\q Gi`d\if [\ KiXYXaf# XmfZÂ? ZfefZ`d`\ekf [\ cX gi\j\ek\ [\dXe[X# \e m`ikl[ [\c jfi$ k\f i\Xc`qX[f%$ <e cf gi`eZ`gXc# [Xe[f Zldgc`d`\ekf X cf fi[\$ eX[f \e \c 8ik% ,., [\c :Â?[`^f [\ KiXYXaf# cX [\dXe[X hl\ Xek\Z\[\ \j ZcXiX# Zfdgc\kX p i\Â&#x2019;e\ cfj [\d}j i\hl`j`kfj [\ C\p# gfi cf hl\ j\ cX XZ\gkX X ki}d`k\ fiXc%$ ;`jgÂ?e\j\ hl\ j\ Z`k\ X cX [\dXe[X[X :I@JK@E8 >8I8P ;< D<CF \e cX ZXc`[X[ [\k\id`eX[X \e cX [\dXe[X# \c [fd`Z`c`f j\Â&#x152;XcX[f gXiX \c \]\Zkf# \eki\^}e[fj\c\ cX Zfg`X [\ [\dXe[X p [\ \jkX gifm`[\eZ`X# gi\m`e`Â&#x201E;e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi ZXj`cc\if al[`Z`Xc [\e$ kif [\c g\iÂ&#x2C6;d\kif c\^Xc [\ \jkX Z`l[X[%$ I\dÂ&#x2C6;kXj\ \c [\jgXZ_f X cX F]`Z`eX [\ :`kXZ`fe\j# X ]`e [\ hl\ j\ ZldgcX \e \c kÂ&#x201E;id`$ ef [\ Z`eZf [Â&#x2C6;Xj cf gi\m`jkf \e \c j\^le[f `eZ`jf [\c 8ik% ,.- [\c :Â?[`^f [\ KiXYXaf% 8 cfj [\dXe[X[fj ?L>F FJN8C;F 8@I8L;F DPzF p AFI>< D8I:<CF >LQ:?D<I >FI@# \e cX ZXc`[X[ [\k\id`eX[X \e cX [\dXe[X# j\ c\j Z`kXi} d\[`Xe$ k\ glYc`ZXZ`fe\j gfi cX gi\ejX# Zfe]fid\ cf [`jgfe\ \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# kf[X m\q hl\ \c XZkfi dXe`]`\jkX Zfe aliXd\ekf [\jZfefZ\i \c [fd`Z`c`f [\c [\dXe[X[f# gi\m`e`Â&#x201E;e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\Â&#x152;XcXi ZXj`cc\if al[`Z`Xc [\ekif [\c g\iÂ&#x2C6;d\kif c\^Xc%$ J\ Zfemf$ ZXi} X cXj gXik\j X cX Xl[`\e$ Z`X gi\c`d`eXi [\ ZfeZ`c`XZ`Â?e# Zfek\jkXZ`Â?e X cX [\dXe[X p ]fidlcXZ`Â?e [\ gil\YXj gXiX \c [Â&#x2C6;X )) [\ ale`f [\c )'(( X cXj (,_''# [`c`^\eZ`X X cX hl\ ZfdgXi\Z\i}e cXj gXik\j f jlj XYf^X[fj [\]\ejfi\j [\Y`[X$ d\ek\ XZi\[`kX[fj Zfe gf[\i hl\ Zfek\e^X Zc}ljlcX gXiX kiXej`^`i# Zfe]fid\ cf [`jgfe\ \c eld\iXc (( [\c 8ik% (*' [\c :Â?[`^f Fi^}e`Zf [\ cX =leZ`Â?e Al[`Z`Xc%$ KÂ&#x201E;e^Xj\ \e Zl\ekX cX ZlXekÂ&#x2C6;X ]`aX[X% Efk`]Â&#x2C6;hl\j\ X cX gXik\ XZkfiX D8EL<C IF;FC=F I<P<J >LQD8E# \e \c ZXj`cc\if al[`Z`Xc Ef% *).- [\c ;i% C\eÂ&#x2C6;e ?\ii\iX% EFK@=@HL<J< P :@K<J<%$ ] ;i% I\e\ :fife\c ;fdÂ&#x2C6;e^l\q% ALQ>8;F GI@D<IF ;< KI898AF ;< G@:?@E:?8%$ M@JKFJ%$ Hl`kf# al\m\j )' [\ \e\if [\c )'('# cXj ('_'.%$ LeX M\q hl\ \c XZkfi X i\ZfefZ`[f jl ]`idX p ilYi`ZX [\ jl \jZi`kf [\ ]\Z_X (( [\ \e\if [\c )'((# ('_)/ p \e dÂ&#x201E;i`kf [\c \jZi`$ kf Xek\j i\]\i`[f# j\ [`jgfe\1 ;\ Zfe]fid`[X[ Zfe \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c j\ Z`k\ X cX [\dXe[X[X :I@JK@E8 >8I8P ;< D<CF# \e cX ZXc`[X[ [\k\id`eX[X \e cX [\dXe[X# d\[`Xek\ ki\j glYc`ZXZ`fe\j gfi cX gi\ejX \e lef [\ cfj g\i`Â?[`Zfj [\ dXpfi Z`iZlcXZ`Â?e [\ \jkX Z`l[X[2 \e cf [\d}j# cXj gXik\j \jkXi}e X cf [`jgl\jkf \e Xlkf `e`Z`Xc [\ ]\Z_X (+ [\ dXpf [\c )'('# cXj (,_'*# p \jkX gifm`[\eZ`X%$ Efk`]Â&#x2C6;hl\j\%$ ] 8Y% <c`qXY\k_ :}i[\eXj :fifeX[f# Al\q Gi`d\if [\c KiXYXaf 8[alekf [\ G`Z_`eZ_X2 ] 8Y% >iXZ`\cX 9\kXeZflik# J\Zi\kXi`X hl\ :\ik`]`ZX%$ Cf hl\ Zfdle`Zf X ljk\[ gXiX cfj ]`e\j c\^Xc\j# X[m`ik`Â&#x201E;e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ \e j\Â&#x152;XcXi [fd`Z`c`f al[`Z`Xc [\e$ kif [\ \jkX ZXljX# gXiX i\Z`Y`i ]lkliXj efk`]`ZXZ`fe\j \e \jk\ gifZ\jf%$ :\ik`]`Zf%$ 8% >I8:@C8 9<K8E:FLIK F% C8 J<:I<K8I@8 8 ?Xp le j\ccf 8%:%&.0,0' <OKI8:KF AL;@:@8C ALQ>8;F J<>LE;F ;< @EHL@C@E8KF
8:KFI1 N@CJFE G8FCF :<CC<I@ I<P<J $ 8GF;<I8;F ;< D8IĂ 8 D<I:<;<J I<P<J ;< :<CC<I@ ;<D8E;8;FJ1 D8IĂ 8 : I @ JK @ E 8 : 8 I : < C < E
Ĺ? Ä Ä&#x2021;Ĺ? Ĺ? Ĺ? Ĺ?Ä&#x201A;Ä&#x20AC;Ä Ä
Ĺ? +. Ĺ? Ä&#x152;Ĺ? <JKI8;8# CL@J 9<IE8I;F A8II@E :ILQ P AL8E :8ICFJ D8C;FE8;F >FEQĂ?C<Q AL@:@F1 @EJG<::@äE )'(($ ')/. M% G% :L8EKĂ 81 @E;<K<ID@E8;8 ;<=<EJFI1 89% 8E;IyJ G<z8=@<C :<;<zF :8J@CC<IF1 +(,* ALQ>8;F J<>LE;F ;< @EHL@C@E8KF P I<C8:@FE<J M<:@E8C<J ;< G@:?@E:?81 Hl`kf# 8Yi`c )' [\c )'((%$CXj '/_)*%$ M@JKFJ%$ @eZfigÂ?i\j\ X cfj Xlkfj \c \jZi`kf gi\j\ekX[f%$ Gfi ZlXekf j\ _X [X[f Zldgc`d`\ekf X cf [`j$ gl\jkf gfi cX jljZi`kX Al\qX \e gifm`[\eZ`X [\ + [\ XYi`c [\c )'(( X cXj '0?'(# j\Â&#x152;}c\j\ \c [`\Z`el\m\ [\ dXpf [\ gi\j\ek\ XÂ&#x152;f X cXj feZ\ _fiXj cX [`c`^\e$ Z`X [\ `ejg\ZZ`Â?e jfc`Z`kX[X%$ 8 cfj j\Â&#x152;fi\j1 DXiÂ&#x2C6;X :i`jk`eX :XiZ\c\e <jkiX[X# Cl`j 9\ieXi[f AXiiÂ&#x2C6;e :ilq p AlXe :Xicfj DXc[feX[f >feq}c\q# efk`]Â&#x2C6;$ hl\j\ X kiXmÂ&#x201E;j [\ cX gi\ejX gfi lef [\ cfj g\i`Â?[`Zfj [\ dXpfi Z`iZl$ cXZ`Â?e hl\ j\ \[`kXe \e \jk\ ;`jki`kf D\kifgfc`kXef [\ Hl`kf%$ 8 kiX$ mÂ&#x201E;j [\ J\Zi\kXi`X \ekiÂ&#x201E;^l\j\ \c i\jg\Zk`mf \okiXZkf%$ ?}^Xj\ ZfefZ\i%$] ;iX% Jfe`X >l[`Â&#x152;f :`je\ifj Al\qX J\^le[X [\ @ehl`c`eXkf [\ Hl`kf% CF HL< :FDLE@:F 8 L;% G8I8 CFJ =@E<J ;< C<P%$ :<IK@=@:F ;I% 8C<O8E;<I M<E<>8J G<I<Q J<:I<K8I@F J<>LE;F ;< @EHL@C@E8KF *((+/dY`
8ELC8:@FE<J
BANCO PICHINCHA HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef%('+( mXcfi ,'%''' [\ cX :kX% :k\% Ef% *'*)**/('+ g\ik\e\Z`\ek\ X :@C@F ;@8Q# N@C9<IK$M@:<EK< [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& ( d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef%(,,' [\ cX :kX% :k\% Ef% *),)*-(/'+ g\ik\e\Z`\ek\ X IFJ8C<J P<C8# IFC8E;F$C@K8I;F [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& ) d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef%(0/( Xc (0/* [\ cX :kX% :k\% Ef% *'*+--..'+ g\ik\e\Z`\ek\ X ?L8I8:8 LIHL@QF# AFJ<$ D8EL<C [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& * d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef%(/0. Xc (/0/ [\ cX :kX% :k\% Ef% **/+,/*.'+ g\ik\$ e\Z`\ek\ X >FEQ8C<Q <JG@E# <DD8$D8>;8C<E8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$
Ä Ä
kif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& + d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef%-(+ [\ cX :kX% :k\% Ef% *)-/0/,-'+ g\ik\e\Z`\ek\ X 8:FJK8 J@<II8# CL@J$ 8C9<IKF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& , d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef%-(, [\ cX :kX% :k\% Ef% *)-/0/,-'+ g\ik\e\Z`\ek\ X 8:FJK8 J@<II8# CL@J$ 8C9<IKF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& - d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef%(-*/) mXcfi ,-/#./ [\ cX :kX% :k\% Ef% *'*-0'**'+ g\i$ k\e\Z`\ek\ X J<@E>GIF8EF J<IM@:@FJ ;< @E><E@<I@8 D<:8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& . d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef%(0+/$ (0,'$ (0,) Xc (0-' [\ cX :kX% :k\% Ef% ***.0+*''+ g\ik\e\Z`\ek\ X I@M8J >8I:@8# >CFI@8$>L8;8CLG< [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& / d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef%,(' Xc ,)' [\ cX :kX% :k\% Ef% *+*)-),-'+ g\ik\e\Z`\ek\ X >I8E;8 I8D@I<Q# >C8;PJ$ I<E< [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& 0 d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef%(,/' mXcfi (*. [\ cX :kX% :k\% Ef% *'.*.-,,'+ g\ik\$ e\Z`\ek\ X >8IQFE ;LHL<# E@CJFE$N8CK<I [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& (' d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef%(,.( Xc (-'' [\ cX :kX% :k\% Ef% *(/0-)*-'+ g\ik\e\Z`\ek\ X J8C8Q8I :8E8I#G89CF$ F:K8M@F [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& (( d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef%(((-( mXcfi //#- [\ cX :kX% :k\% Ef% *'*)0*+0'+ g\ik\e\$ Z`\ek\ X =LE;8:@FE 8D@>FJ 9<E<=8:KFI<J <E=<IDFJ [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`f$ i\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& () d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef%)+*,$ )+,* [\ cX :kX% :k\% Ef% ***(..*.'+ g\i$ k\e\Z`\ek\ X CFG<Q FC@M8#
Ĺ? Ĺ?
Ĺ?
Ĺ? Ĺ?
Ĺ?
Ä Ä&#x201A;
Ĺ? Ä Ä&#x2021;Ĺ? Ĺ? Ĺ? Ĺ?Ä&#x201A;Ä&#x20AC;Ä Ä
Ĺ? +. Ĺ? Ä&#x152;Ĺ?
<C@8E8$8E><C@K8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& (* d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef%+/() mXcfi *(,' [\ cX :kX% :k\% Ef% *'+,+0*0'+ g\ik\e\$ Z`\ek\ X G<I<Q 9LJK8D8EK< P GFE:< 89F>8;FJ :@8%CK [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`f$ i\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& (+ d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef%(-( Xc ))' [\ cX :kX% :k\% Ef% **-,(.,('+ g\ik\e\Z`\ek\ X :<IFE >FD<Q# DFE@:8$ ;<C :FEJL<CF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& (, d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef%)+// mXcfi ()('#*/ [\ cX :kX% :k\% Ef% *''0/,,+'+ g\i$ k\e\Z`\ek\ X IFD<IF <JG@E# D8I@8$JFC<;8; [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& (- d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef%(+-$ (+/ [\ cX :kX% :k\% Ef% *+/*.(,,'+ g\ik\e\Z`\ek\ X DFEK8>L8EF DFEK8K@O<# CL@J$?LD9<IKF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& (. d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef%)-.) mXcfi -,#'' [\ cX :kX% :k\% Ef% *''-**0.'+ g\ik\e\$ Z`\ek\ X I@F=I@F >L8I;<I8J# G89CF$<JK<98E [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& (/ d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef%(0'-0 mXcfi /./#)' [\ cX :kX% :k\% Ef% *(/0)))*'+ g\ik\e\Z`\ek\ X J<>LI@;8; E8:@FE8C P GIF=<J@FE8C J<E8GIF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& (0 d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef%(0(,) mXcfi ).'#0- [\ cX :kX% :k\% Ef% *(/0)))*'+ g\ik\e\Z`\ek\ X J<>LI@;8; E8:@FE8C P GIF=<J@FE8C J<E8GIF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& )' d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef%(('( mXcfi .'' [\ cX :kX% :k\% Ef% *)./'+)/'+ g\ik\e\Z`\ek\ X JFJ8 CF>8:?F#:<J8I$8L>LJKF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`f$ i\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& )( d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\
Ef%)*)+ Xc )*)- [\ cX :kX% :k\% Ef% ***(..*.'+ g\i$ k\e\Z`\ek\ X CFG<Q FC@M8# <C@8E8$8E><C@K8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& )) d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef%(''( Xc ('*' [\ cX :kX% :k\% Ef% *(+*(-/+'+ g\ik\$ e\Z`\ek\ X 8CM<8I J8E:?<Q# :8ID<E$;<C IF:@F [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& )* d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef%.0. mXcfi (-+*#(* [\ cX :kX% :k\% Ef% **-'-,+''+ g\ik\e\Z`\ek\ X @IM@O J8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& )+ d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef%('(* [\ cX :kX% :k\% Ef% *+()/+,+'+ g\i$ k\e\Z`\ek\ X >L<II8 < J G @ E F J 8 # G8K I @ : @ F $ =<IE8E;F [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& ), d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef%***0 Xc **+' [\ cX :kX% :k\% Ef% *'-0.(-('+ g\i$ k\e\Z`\ek\ X D8IK@E<Q M@K<I@#=<IE8E;F$ [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& )- d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef%(*-*$ (+'+$ (+.-$ (+/($ (+/* [\ cX :kX% :k\% Ef% *)/'),'/'+ g\ik\e\Z`\e$ k\ X E8I8EAF :FI;FM8# IFJ8I@F$><ID8E@8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& ). d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef%(-( Xc ))' [\ cX :kX% :k\% Ef% *+-*)'(*'+ g\ik\e\Z`\ek\ X :FCC8>L8QF :?@G8EK8J?@# D8I@8$C@C@8E8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& )/ d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef%('( Xc (-' [\ cX :kX% :k\% Ef% *+-*)'(*'+ g\ik\e\Z`\ek\ X :FCC8>L8QF :?@G8EK8J?@# D8I@8$C@C@8E8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& )0 d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef%//( Xc 0/' [\ cX :kX% :k\% Ef% **/./+,)'+ g\ik\e\Z`\e$ k\ X ;FEFJF J8CM8;FI# 8E;I<J$=<IE8E;F [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& *' d^ 444444
Ĺ?
HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef%*/* Xc +'' [\ cX :kX% :k\% Ef% *'/./.-,'+ g\ik\e\Z`\ek\ X E8I8EAF ;FLJ;<9<J# I8LC$<;L8I;F [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& *( d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef%*((/$ *(*+ Xc *(*. [\ cX :kX% :k\% Ef% *',-+0'+'+ g\ik\e\Z`\ek\ X IF;8J 98IQ8CCF# AL8E$:8ICFJ [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& *) d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef%-,0+(' Xc -,0+-0 [\ cX :kX% :k\% Ef% *'*,-'*('+ g\ik\e\Z`\ek\ X G8<Q ALI8;F#FJN8C;F$8E@98C [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`f$ i\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& ** d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef%+'( Xc ,'' [\ cX :kX% :k\% Ef% *+-,,-,*'+ g\ik\$ e\Z`\ek\ X D8HL@C=8JK ;<C <:L8;FI J%8% [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& *+ d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef%*'*$ *',$ *(+ [\ cX :kX% :k\% Ef% *+-+*().'+ g\ik\e\Z`\ek\ X 98C8EQ8K<>L@ <>8J# >LJK8MF$8C=I<;F [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& *, d^ 444444 HL<;8 8ELC8;F K`gf [\ [fZld\ekf1 G8G<C :FD<I:@8C# Eld\if [\ [fZld\ekf1 EÂ&#x2014; ;< K@KLCF1 '''''''(.$)+0 EÂ&#x2014; ;< FG<I8:@äE ,(0*')2 MXcfi1 )'#'''%''# EfdYi\ [\c Y\e\$ ]`Z`Xi`f f X hl`\e g\ik\e\Z\ \c [fZld\ekf1 <:LM<EQL J%8%2 Eld\if [\ Z\[lcX f IlZ [\c gifg`\kXi`f [\c [fZld\ekf1 '00)-/.(+)''( 8:&(',,/&XX 4444 HL<;8 8ELC8;F K`gf [\ [fZld\ekf1 G8G<C :FD<I:@8C# Eld\if [\ [fZld\ekf1 EÂ&#x2014; ;< K@KLCF1 '''''''('$).* EÂ&#x2014; ;< FG<I8:@äE ,(0)/02 MXcfi1 )'#'''%''# EfdYi\ [\c Y\e\$ ]`Z`Xi`f f X hl`\e g\ik\e\Z\ \c [fZld\ekf1 <:LM<EQL J%8%2 Eld\if [\ Z\[lcX f IlZ [\c gifg`\kXi`f [\c [fZld\ekf1 '00)-/.(+)''( 8:&(',,/&XX 4444 HL<;8 8ELC8;F K`gf [\ [fZld\ekf1 G8G<C :FD<I:@8C# Eld\if [\ [fZld\ekf1 EÂ&#x2014; ;< K@KLCF1 ''''''''+$)+* EÂ&#x2014; ;< FG<I8:@äE ,(0)/.2 MXcfi1 )'#'''%''# EfdYi\ [\c Y\e\$ ]`Z`Xi`f f X hl`\e g\ik\e\Z\ \c [fZld\ekf1 <:LM<EQL J%8%2 Eld\if [\ Z\[lcX f IlZ [\c gifg`\kXi`f [\c [fZld\ekf1 '00)-/.(+)''( 8:&(',,/&XX
COOPROGRESO ;\Y`[f X cX gÂ&#x201E;i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '(('(0')'( p C`Yi\kX [\ 8gfikXZ`fe\j Ef% '(.'(-*/0( [\ cX :ffg\iXk`mX [\ 8_fiif p :iÂ&#x201E;[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X DFJHL<I8
Iecei bei ikf[hl_l_[dj[i" f[he j[d[cei gk[ l_l_h [d _]kWbZWZ W bei e`ei Z[b JeZefeZ[heie$ 8E8 C7HB;O JFJ8 ;@<>F J8EK@8>F j\ gifZ\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c gÂ&#x2019;Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('//(& ( d^ 44444 ;\Y`[f X cX gÂ&#x201E;i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '+'''('-') p C`Yi\kX [\ 8gfikXZ`fe\j Ef% '+.'(0,'-( [\ cX :ffg\iXk`mX [\ 8_fiif p :iÂ&#x201E;[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X @C<I G<I<Q AFJ< ;8IN@E j\ gifZ\[\$ i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c gÂ&#x2019;Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`f$ eX[f [fZld\ekf cfj i\ZcXd\% 8:&('//)& ) d^ 44444 ;\Y`[f X cX gÂ&#x201E;i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef ','((+.,,+ p C`Yi\kX [\ 8gfikXZ`fe\j Ef% $ [\ cX :ffg\iXk`mX [\ 8_fiif p :iÂ&#x201E;[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X D<E8 :<M8CCFJ QF@C8 IFJ8 j\ gifZ\[\i} X XelcXi$ cX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c gÂ&#x2019;Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZl$ d\ekf cfj i\ZcXd\% 8:&('//*& * d^ 44444 ;\Y`[f X cX gÂ&#x201E;i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef ',(''().). p C`Yi\kX [\ 8gfikXZ`fe\j Ef% ',.''((.'- [\ cX :ffg\iXk`mX [\ 8_fiif p :iÂ&#x201E;[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X 9<8B AF8E =I8E:<J j\ gifZ\[\i} X Xel$ cXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c gÂ&#x2019;Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('//+& + d^ 44444 ;\Y`[f X cX gÂ&#x201E;i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '/(')'.)', p C`Yi\kX [\ 8gfikXZ`fe\j Ef% '/.'(*'*+* [\ cX :ffg\iXk`mX [\ 8_fiif p :iÂ&#x201E;[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X :8;<E8 A8I8D@CCF DPI@8D >89I@<C8 j\ gifZ\[\i} X Xel$ cXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c gÂ&#x2019;Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('//,& , d^ 44444 ;\Y`[f X cX gÂ&#x201E;i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '+'(,'-0.( p C`Yi\kX [\ 8gfikXZ`fe\j Ef% +'+(.')--00 [\ cX :ffg\iXk`mX [\ 8_fiif p :iÂ&#x201E;[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X GIF:<C ;@8Q G@C8I ;< C8J D<I:<;<J j\ gifZ\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c gÂ&#x2019;Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('/-*& ( d^ 44444 ;\Y`[f X cX gÂ&#x201E;i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '/'(*(,-+, p C`Yi\kX [\ 8gfikXZ`fe\j Ef% '/'.(+0,(, [\ cX :ffg\iXk`mX [\ 8_fiif p :iÂ&#x201E;[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X >FP<J EF9F8 CFI<E8 @J89<C j\ gifZ\[\$ i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c gÂ&#x2019;Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`f$ eX[f [fZld\ekf cfj i\ZcXd\% 8:&('/-+& ) d^ 44444 ;\Y`[f X cX gÂ&#x201E;i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef ')'()+)))+ [\ cX :ffg\iXk`mX [\ 8_fiif p :iÂ&#x201E;[`kf :ffgif^i\jf C`d`kX[X#
g\ik\e\Z`\ek\ X HL@J@C<D8 =CFI<J 8E><C =<IE8E;F j\ gifZ\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c gÂ&#x2019;Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('/-,& * d^ 44444 ;\Y`[f X cX gÂ&#x201E;i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '/('((+./0 [\ cX :ffg\iXk`mX [\ 8_fiif p :iÂ&#x201E;[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X C@:KF :LE8C8K8 ><FM8EEP G8KI@:@F j\ gifZ\[\i} X Xel$ cXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c gÂ&#x2019;Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('/--& + d^ 44444 ;\Y`[f X cX gÂ&#x201E;i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '('(,-.(-( [\ cX :ffg\iXk`mX [\ 8_fiif p :iÂ&#x201E;[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X ?<IE8E;<Q D8IK@E<Q A8E<K? 8C@:@8 j\ gifZ\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c gÂ&#x2019;Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('/-.& , d^ 44444 ;\Y`[f X cX gÂ&#x201E;i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef +((((''*0*), [\ cX :ffg\iXk`mX [\ 8_fiif p :iÂ&#x201E;[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X KL8G8EK8 8:FJK8 D8I@F N<CC@E>KFE j\ gifZ\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c gÂ&#x2019;Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZl$ d\ekf cfj i\ZcXd\% 8:&('/-/& - d^ 44444 ;\Y`[f X cX gÂ&#x201E;i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef ()(''*,/-. [\ cX :ffg\iXk`mX [\ 8_fiif p :iÂ&#x201E;[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X G8L:8I DFI8C<J D8I@8 I<9<:8 j\ gifZ\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c gÂ&#x2019;Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('/-0& . d^ 44444 ;\Y`[f X cX gÂ&#x201E;i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '+(')/*0'0 [\ cX :ffg\iXk`mX [\ 8_fiif p :iÂ&#x201E;[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X JLHL@C8E;@ :8:?LGL; AL8E KFD8J j\ gifZ\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c gÂ&#x2019;Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('/.)& ( d^ 44444 ;\Y`[f X cX gÂ&#x201E;i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef ('(,/.(( [\ cX :ffg\iXk`mX [\ 8_fiif p :iÂ&#x201E;[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X GL<9C8 J8E:?<Q ;8E@<C8 >89I@<C8 j\ gifZ\[\i} X Xel$ cXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c gÂ&#x2019;Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('/.*& ) d^
BANCO INTERNACIONAL Gfi _XY\ij\ g\i[`[f cX C`Yi\kX [\ 8_fiifj [\ cX Zl\ekX Ef% ),'.+*-), [\c 9XeZf
@ek\ieXZ`feXc J%8%# j\ \jk} gifZ\[`\e[f X jl XelcXZ`Â?e% Hl`\e Zi\p\i\ k\e\i [\i\Z_f jfYi\ \jkX c`Yi\kX# [\Y\i} gi\$ j\ekXi jl i\ZcXdf Xc 9XeZf# [\ekif [\ cfj () [Â&#x2C6;Xj# ZfekX[fj [\j[\ cX Â&#x2019;ck`dX glYc`ZXZ`Â?e [\ \jk\ Xm`jf% 8:&('/.. ( d^ 4444444 Gfi _XY\ij\ g\i[`[f cX C`Yi\kX [\ 8_fiifj [\ cX Zl\ekX Ef% +,'.+(*-) [\c 9XeZf @ek\ieXZ`feXc J%8%# j\ \jk} gifZ\[`\e[f X jl XelcXZ`Â?e% Hl`\e Zi\p\i\ k\e\i [\i\Z_f jfYi\ \jkX c`Yi\kX# [\Y\i} gi\$ j\ekXi jl i\ZcXdf Xc 9XeZf# [\ekif [\ cfj () [Â&#x2C6;Xj# ZfekX[fj [\j[\ cX Â&#x2019;ck`dX glYc`ZXZ`Â?e [\ \jk\ Xm`jf% 8:&('/.. ) d^ 4444444 Gfi _XY\ij\ g\i[`[f cX C`Yi\kX [\ 8_fiifj [\ cX Zl\ekX Ef% '+*'.),+++ [\c 9XeZf @ek\ieXZ`feXc J%8%# j\ \jk} gifZ\[`\e[f X jl XelcXZ`Â?e% Hl`\e Zi\p\i\ k\e\i [\i\Z_f jfYi\ \jkX c`Yi\kX# [\Y\i} gi\$ j\ekXi jl i\ZcXdf Xc 9XeZf# [\ekif [\ cfj () [Â&#x2C6;Xj# ZfekX[fj [\j[\ cX Â&#x2019;ck`dX glYc`ZXZ`Â?e [\ \jk\ Xm`jf% 8:&('/.. * d^ 4444444 Gfi _XY\ij\ g\i[`[f cX C`Yi\kX [\ 8_fiifj [\ cX Zl\ekX Ef% +)'.(,/'* [\c 9XeZf @ek\ieXZ`feXc J%8%# j\ \jk} gifZ\[`\e[f X jl XelcXZ`Â?e% Hl`\e Zi\p\i\ k\e\i [\i\Z_f jfYi\ \jkX c`Yi\kX# [\Y\i} gi\$ j\ekXi jl i\ZcXdf Xc 9XeZf# [\ekif [\ cfj () [Â&#x2C6;Xj# ZfekX[fj [\j[\ cX Â&#x2019;ck`dX glYc`ZXZ`Â?e [\ \jk\ Xm`jf% 8:&('/.. + d^ 4444444 Gfi _XY\ij\ g\i[`[f cX C`Yi\kX [\ 8_fiifj [\ cX Zl\ekX Ef% '-''.+*/)0 [\c 9XeZf @ek\ieXZ`feXc J%8%# j\ \jk} gifZ\[`\e[f X jl XelcXZ`Â?e% Hl`\e Zi\p\i\ k\e\i [\i\Z_f jfYi\ \jkX c`Yi\kX# [\Y\i} gi\$ j\ekXi jl i\ZcXdf Xc 9XeZf# [\ekif [\ cfj () [Â&#x2C6;Xj# ZfekX[fj [\j[\ cX Â&#x2019;ck`dX glYc`ZXZ`Â?e [\ \jk\ Xm`jf% 8:&('/'+ ( d^ 4444444 Gfi _XY\ij\ g\i[`[f cX C`Yi\kX [\ 8_fiifj [\ cX Zl\ekX Ef% */'.,/*,, [\c 9XeZf @ek\ieXZ`feXc J%8%# j\ \jk} gifZ\[`\e[f X jl XelcXZ`Â?e% Hl`\e Zi\p\i\ k\e\i [\i\Z_f jfYi\ \jkX c`Yi\kX# [\Y\i} gi\$ j\ekXi jl i\ZcXdf Xc 9XeZf# [\ekif [\ cfj () [Â&#x2C6;Xj# ZfekX[fj [\j[\ cX Â&#x2019;ck`dX glYc`ZXZ`Â?e [\ \jk\ Xm`jf% 8:&('/'+ ) d^ 4444444 Gfi _XY\ij\ g\i[`[f cX C`Yi\kX [\ 8_fiifj [\ cX Zl\ekX Ef% *.'.*,()+ [\c 9XeZf @ek\ieXZ`feXc J%8%# j\ \jk} gifZ\[`\e[f X jl XelcXZ`Â?e% Hl`\e Zi\p\i\ k\e\i [\i\Z_f jfYi\ \jkX c`Yi\kX# [\Y\i} gi\$ j\ekXi jl i\ZcXdf Xc 9XeZf# [\ekif [\ cfj () [Â&#x2C6;Xj# ZfekX[fj [\j[\ cX Â&#x2019;ck`dX glYc`ZXZ`Â?e [\ \jk\ Xm`jf% 8:&('/+ * d^ 4444444 Gfi _XY\ij\ g\i[`[f cX C`Yi\kX [\ 8_fiifj [\ cX Zl\ekX Ef% '*''.)0*,' [\c 9XeZf @ek\ieXZ`feXc J%8%# j\ \jk} gifZ\[`\e[f X jl XelcXZ`Â?e% Hl`\e Zi\p\i\ k\e\i [\i\Z_f jfYi\ \jkX c`Yi\kX# [\Y\i} gi\$ j\ekXi jl i\ZcXdf Xc 9XeZf# [\ekif [\ cfj () [Â&#x2C6;Xj# ZfekX[fj [\j[\ cX Â&#x2019;ck`dX glYc`ZXZ`Â?e [\ \jk\ Xm`jf% 8:&('/'+ + d^ 4444444 Gfi _XY\ij\ g\i[`[f cX C`Yi\kX [\ 8_fiifj [\ cX Zl\ekX Ef% '-('.(('*( [\c 9XeZf @ek\ieXZ`feXc J%8%# j\ \jk} gifZ\[`\e[f X jl XelcXZ`Â?e% Hl`\e Zi\p\i\ k\e\i [\i\Z_f jfYi\ \jkX c`Yi\kX# [\Y\i} gi\$ j\ekXi jl i\ZcXdf Xc 9XeZf# [\ekif [\ cfj () [Â&#x2C6;Xj# ZfekX[fj [\j[\ cX Â&#x2019;ck`dX glYc`ZXZ`Â?e [\ \jk\ Xm`jf% 8:&('/'+ , d^ 4444444 Gfi _XY\ij\ g\i[`[f cX C`Yi\kX [\ 8_fiifj [\ cX Zl\ekX Ef% '++'.'0,,- [\c 9XeZf
@ek\ieXZ`feXc J%8%# j\ \jk} gifZ\[`\e[f X jl XelcXZ`Â?e% Hl`\e Zi\p\i\ k\e\i [\i\Z_f jfYi\ \jkX c`Yi\kX# [\Y\i} gi\$ j\ekXi jl i\ZcXdf Xc 9XeZf# [\ekif [\ cfj () [Â&#x2C6;Xj# ZfekX[fj [\j[\ cX Â&#x2019;ck`dX glYc`ZXZ`Â?e [\ \jk\ Xm`jf% 8:&('/'+ - d^
BANCO PROMERICA J\ XelcX gfi gÂ&#x201E;i[`[X cX C`Yi\kX Ef *,**/0 [\c 98E:F GIFD<I@:8# g\ik\$ e\Z`\ek\ X 8DG8IF 8I8:<C@ M8C;@M@<JF KLC:8E hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj () [Â&#x2C6;Xj gfjk\i`f$ i\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:&('/,,&( d^ 44444444 J\ XelcX gfi gÂ&#x201E;i[`[X cX C`Yi\kX Ef *'.'(/ [\c 98E:F GIFD<I@:8# g\ik\e\Z`\ek\ X KLG@Q8 <JG@E D8I:F hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj () [Â&#x2C6;Xj gfjk\i`f$ i\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:&('/,-&) d^ 44444444 J\ XelcX gfi gÂ&#x201E;i[`[X cX C`Yi\kX Ef *)('/* [\c 98E:F GIFD<I@:8# g\ik\e\Z`\ek\ X D8I@8 <L><E@8 8CD<@;8 hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj () [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`$ ZXZ`Â?e% 8:&('/,.&* d^ 44444444 J\ XelcX gfi gÂ&#x201E;i[`[X cX C`Yi\kX Ef *,)(/( [\c 98E:F GIFD<I@:8# g\ik\e\Z`\e$ k\ X Fz8 >8M@C<D8 E<CCP IFJ@F hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj () [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:&('//-&(d^ 44444444 J\ XelcX gfi gÂ&#x201E;i[`[X cX C`Yi\kX Ef *,))// [\c 98E:F GIFD<I@:8# g\ik\e\Z`\ek\ X :FI;FM<Q GFE:< D8I@8 ;FCFI<J hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj () [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:&('//.&(d^ 44444444 J\ XelcX gfi gÂ&#x201E;i[`[X cX GÂ?c`qX [\ @em\ij`Â?e Ef -')()( [\c 98E:F GIFD<I@:8# g\ik\$ e\Z`\ek\ X 8E;I8;< <I8QF >I8:< @IC8E;8 MXcfi .%'''%'' =<% ',&((&)'(' =M& '(&((&)'(( hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj () [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:&('///&(d^ 44444444 J\ XelcX gfi gÂ&#x201E;i[`[X \c Z_\$ hl\ Ef% (- 8C ), MXcfi <E 9C8E:F ;\ cX Zl\ekX Zfii`\e$ k\ Ef ('+*.)''(- [\c 98E:F GIFD<I@:8# g\ik\e\Z`\ek\ X KF8G8EK8 ;8IN@E hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj () [Â&#x2C6;Xj gfjk\i`f$ i\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:&('//0&(d^
BANCO RUMIĂ&#x2018;AHUI HL<;8 8ELC8;8 Gfi gÂ&#x201E;i[`[X [\ cX c`Yi\kX [\ X_fiifj Ef%/'(/0/','' Eif% :XikfcX (-/.,('''+/ [\c 9XeZf Ild`Â&#x152;X_l`% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj () [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& ( d^ 44444 HL<;8 8ELC8;F Gfi gÂ&#x201E;i[`[X [\c :_\hl\ Ef%*'-*/ MXcfi ,.'#)0 [\ cX :kX Ef% /''((((('+ g\ik\e\Z`\ek\ X LE@;8;
<;L:8K@M8 =8< EF(H [\c 9XeZf Ild`Â&#x152;X_l`% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj - [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& ) d^ 444444 HL<;8 8ELC8;F Gfi gÂ&#x201E;i[`[X [\c :_\hl\ Ef%*'-++ MXcfi )*/#/- [\ cX :kX Ef% /''((((('+ g\ik\e\Z`\ek\ X LE@;8; <;L:8K@M8 =8< EF(H [\c 9XeZf Ild`Â&#x152;X_l`% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj - [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`ZXZ`Â?e% 8:& * d^
BANCO PROCREDIT 98E:F GIF:I<;@K J%8% gfe\ \e ZfefZ`d`\ekf [\c gÂ&#x2019;Yc`Zf# cX XelcXZ`Â?e gfi gÂ&#x201E;i[`[X [\ cX c`Yi\kX [\ cX Zl\ekX [\ X_fiifj eÂ&#x2019;d\if (( '('( (,0/'' ( [\ K<I8E K8G@8 AL8E G89CF# Zfe :%@% (.)'/).+'$0% 8%G%&+0(-,&b%d% 444444 98E:F GIF:I<;@K J%8% gfe\ \e ZfefZ`d`\ekf [\c gÂ&#x2019;Yc`Zf# cX XelcXZ`Â?e gfi gÂ&#x201E;i[`[X [\ cX c`Yi\kX [\ cX Zl\ekX [\ X_fiifj eÂ&#x2019;d\if (( ',+' *('('( [\ <M<I8I;F 8E><C GI8;F J8C8Q8I F :8E8:L8E : ? @ C 8 E > L8 :8 I D < E 8D<C@8# Zfe :%@% '+''-'/+-0 & '+''-)'.+-% 8%G%&+0(--&b%d% 444444 9XeZf GifZi\[`k J%8% gfe\ \e ZfefZ`d`\ekf [\c gÂ&#x2019;Yc`Zf# cX XelcXZ`Â?e gfi gÂ&#x201E;i[`[X [\ cX c`Yi\kX [\ X_fiif Ef% '(**)-( :kX Ef% '('('((,0(+)( [\ cX j\Â&#x152;fiX MXi^Xj :X`qX N`cdX JfiXpX# :%@% (.(-/+'',( 8I&/)0',&ZZ 444444 9XeZf GifZi\[`k J%8% gfe\ \e ZfefZ`d`\ekf [\c gÂ&#x2019;Yc`Zf# cX XelcXZ`Â?e gfi gÂ&#x201E;i[`[X [\ cX c`Yi\kX [\ X_fiif Ef% '(.0(-* :kX% Ef% '('('('))*.++ [\ cX j\Â&#x152;fiX A`d\e\q 9\cki}e DÂ?e`ZX GXki`Z`X :%@% (.'/'00)'* 8I&/)0'-&ZZ
COOPERATIVA COTOCOLLAO :ffg\iXk`mX :fkfZfccXf Hl\[X XelcX[X cX c`Yi\kX [\ X_fiifj +')'(''*',+, [\ cX :ffg\iXk`mX :fkfZfccXf g\ik\e\Z`\ek\ X >ljkXmf OXm`\i JXdl\qX :fccX_lXqf% 8%G%&+0(,/&b%d%
BANCO PROMERICA J\ XelcX gfi gÂ&#x201E;i[`[X cX C`Yi\kX Ef -'(0..('(+ :XikfcX *,'(', [\c 98E:F GIFD<I@:8# g\i$ k\e\Z`\ek\ X :8ID<E ELz<Q hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj () [Â&#x2C6;Xj gfjk\i`fi\j X cX Â&#x2019;ck`dX glYc`$ ZXZ`Â?e% 8:&('/).&( d^
8ELC8:@FE<J M8I@8J J\ Zfdle`ZX Xc gÂ&#x2019;Yc`Zf [\ hl\ j\ gifZ\[\ X XelcXi gfi gÂ&#x201E;i[`$ [X cX gÂ?c`qX Ef% /'//(0-((' Zfe jfgfik\ )-+*,/('('( g\ik\e\Z`\ek\ X DXi`f <ei`hl\ DXZXj M`ccX Zfe ZÂ&#x201E;[lcX Ef% (.'-,+0')$. 8I&/)/.0&ZZ 44444