LQIRUPDomR WpFQLFR FRPHUFLDO
GSQYRMGEp~IW GIPYPEVIW
0YWS1EXVM\ ¯ 2SZEW 8IGRSPSKMEW HI )PIGXVzRMGE 4VS½WWMSREP
3Tp~IW + % 'MRXIVMSR ;MVIPIWW 1SHYPIW ERXMKE 7MIQIRW q E PuHIV QYRHMEP IQ GSQYRMGEp~IW HI QjUYM RE TEVE QjUYMRE 1 1 WIRHS GSQIVGMEPM^EHE IQ 4SVXYKEP TIPE IQTVIWE 0YWSQEXVM\ 0HE 7nS YQ TEVGIMVS HI GSR½ERpE GSQ YQ PSR KS LMWXSVMEP HI TVSHYXSW HI EPXE UYEPMHEHI IQ XSHE E MRH WXVME KPSFEP TSMW E UYEPMHEHI HSW WIYW TVSHYXSW q ETVSZEHE I VIGSRLIGMHE IQ XSHS S 1YRHS %PqQ HMWWS E 'MRXIVMSR ETVIWIRXE YQE SVKERM^EpnS HI WYTSVXI KPSFEP UYI SJIVIGI ES GPMIRXI E TSWWMFMPMHEHI HI PLI HEV WYTSVXI IQ XSHEW EW JEWIW HS TVSGIWWS HI MRXIKVEpnS GSRWSERXI EW ZEVMEHEW ETPMGEp~IW 'SQS XEP ETVIWIRXEQSW SW XIVQMREMW 8' 8 I S &+7 8 3 8IVQMREP 8' 8 HI½RI TEHV~IW WIQ TVIGIHIRXI RS HSQuRMS HEW GSQYRMGEp~IW Qj UYMRE E QjUYMRE 1 1 'SQ FEWI RS QzHYPS EZERpEHS 8' M WYVKMY E ZIVWnS MRXIPMKIRXI HS XIVQMREP UYI GSQFMRE E QEMW TSHIVSWE I YRM ZIVWEPQIRXI EGIMXI PMRKYEKIQ IQ .EZE81 )WXE TPEXEJSVQE HI WSJX[EVI EFIVXS KEVERXI YQE IRYQIVE ZEVMIHEHI HI MRXIVJEGIW MRHYWXVMEMW TEVE TVSHY^MV YQE WSPYpnS 4PYK 4PE] MRXIPM KIRXI RS GVIWGIRXI QIVGEHS 1 1 )WXI XIV QMREP XIQ MRGSVTSVEHS S QEMW VIGIRXI 1SFMPI
*MKYVE 8IVQMREP 8' 8
84
-RJSVQEXMSR 4VS½PI 2+ TEVE TSHIV SJIVIGIV E STSVXYRMHEHI HI GSRXVSPEV EW ETPMGEp~IW 1 1 YWERHS VIGYVWSW MRXIVRSW XEMW GSQS YQ TVS GIWWEHSV TSXIRXI FIQ GSQS E GETEGMHEHI HI WMQTPM½GEV EXYEPM^Ep~IW VIQSXEW HI WSJX[EVI HI GSR½ERpE I HI QERYXIRpnS HI ETPMGEp~IW 4SV PXMQS QEW RnS QIRSW MQTSVXERXI E XIGRS PSKME 5YEH FERH TIVQMXI UYI IWXIW XIVQMREMW WINEQ YXMPM^EHSW KPSFEPQIRXI 9QE KVERHI ZEVMIHEHI HI MRXIVJEGIW MRHYW XVMEMW I E JYRGMSREPMHEHI 4PYK 4PE] MRGPYuHS TIVQMXI E MQTPIQIRXEpnS VjTMHE I JjGMP VIHY^ WMKRM½GEXMZEQIRXI SW GYWXSW I VIHY^ EW FEVVIMVEW k IRXVEHE HI YQ KVERHI R QIVS HI jVIEW HI RIKzGMSW XEMW GSQS KIWXnS HI JVSXEW WIKYVERpE QjUYMREW HI ZIRHE EYXSQjXMGE SY GSRXVSPI VI QSXS 'SQ E WYE KEQE EPEVKEHE HI XIQTIVEXYVE HI JYRGMSREQIRXS I XEQFqQ GSQ E TSWWMFMPMHE HI HI WXERH EPSRI XSVRE WI RYQ HMWTSWMXMZS TIV JIMXS TEVE WS½WXMGEHEW WSPYp~IW 1 1 3 XIVQMREP &+7 8 JSM VIGIRXIQIRXI PERpE HS RS QIVGEHS )WXI RSZS XIVQMREP ZIQ IUYM TEHS GSQ S QzHYPS &+7 HE 'MRXIVMSR I q FEWIEHS RE PXMQE KIVEpnS HI WMPuGMS HMWTSRuZIP SJIVIGIRHS E QIPLSV I½GMsRGME IRIVKqXMGE HE WYE GPEWWI -RGSVTSVE E QEMW VIGIRXI I TSXIRXI KIVEpnS HI QzHYPSW [MVIPIWW + GSQ XIGRS PSKME +71 +467 5YEH &ERH TEVE EWWIKYVEV YQE GSFIVXYVE IQ XIVQSW KPSFEMW TEVE XSHEW EW WSPYp~IW EPP MR SRI HI GSQYRMGEp~IW HI HE HSW 717 I *%< GSRIXMZMHEHI 8'4 -4 FEWIEHS IQ XVERWQMWWnS +467 'PEWWI I YQ GSRWY QS HI IRIVKME VIHY^MHS -HIEP TEVE MQTPIQIR XEp~IW IQ TIUYIRE IWGEPE I RSZSW YXMPM^EHSVIW IWXI XIVQMREP SJIVIGI GSQYRMGEp~IW 1 1 HI GSR½ERpE zXMQE VIPEpnS GYWXS I½GMsRGME TEVE YQE KVERHI ZEVMIHEHI HI ETPMGEp~IW MRHYWXVMEMW XEMW GSQS VIGSPLE HI QIHMp~IW WIKYVERpE XVERWTSVXIW QSRMXSVM^EpnS I GSRXVSPS VIQSXS
*MKYVE 8IVQMREP &+7 8
(IWIRZSPZMHS TEVE YQE VjTMHE I JjGMP MRW XEPEpnS S &+7 8 MRGPYM ZEVMEHEW STp~IW HI ½ \EpnS GEM\E HI TPjWXMGS HI KVERHI VIWMWXsRGME MRXIVJEGIW MRHYWXVMEMW GSQS 67 SY 67
STGMSREP GSQS XEQFqQ YQ WYTSVXI TEVE GEVXnS 7-1 MRXIKVEHS 4EVE EWWIKYVEV YQE WMQTPIW ½jZIP I I½GMIRXI MRXIKVEpnS S WIY HIWIRLS YPXVE GSQTEGXS MR GSVTSVE GSRGIMXSW HI QSRXEKIQ ¾I\uZIMW XEMW GSQS QSRXEKIQ IQ GEPLE (-2 QSRXEKIQ IQ GEPLE XMTS ' ½\EpnS TSV TEVEJYWSW I YXMPM ^EpnS HI FVEpEHIMVEW TEVE SW GEFSW
3Tp~IW + 4EVE STp~IW + ETVIWIRXEQSW QEMW HSMW IUYM TEQIRXSW HEW XEQFqQ RSWWEW VITVIWIRXEHEW :MVXYEP %GGIWW I E 7MIVVE ;MVIPIWW % :MVXYEP %GGIWW JSM JYRHEHE IQ XIQ GSQS PIQE XVEFEPLEV TIVXS HSW WIYW GPMIRXIW TEVE HIWIRZSPZIV I MRXIKVEV S QIPLSV IQ VI HIW HI IUYMTEQIRXSW TEVE XIPIGSQYRMGEp~IW % WYE XIGRSPSKME IWXj RE FEWI HS WYGIWWS HSW