Page 1

1PTUBESFTT#PYรธรทรทรฟ รพรผรธรปรท6QQTBMBp#FTร•L%SBHBSCSVOOTHรปรผp5FMรทรธรฟรฝรปรทรผรปรทp5FMFGBYรทรธรฟรธรทรฟรฝรธรท &QPTUEHGPOEFS!EHGPOEFSTFpXXXEHGPOEFSTFp#Hรผฤ€รนรบรฝรบรผรฝp1(รปรฟรฝรธรปรฟรนรท

%FUSFGรšSTUBLWBSUBMFO %JEOFS(FSHF"LUJFGPOETUFHEFUSFGร•STUBLWBSUBMFONFEฤ€ รท QSPDFOU JOLMVTJWFMร…NOBEVUEFMOJOH Kร…NGร•SUNFEรป รฝQSPDFOUT VQQHร‡OHGร•S0.94UPDLIPMN7JEUSFEKFLWBSUBMFUTVUHร‡OHWBS BOEFMTWร…SEFUรธรธรผรน รบรฝ4&,QFSBOEFM * TMVUFU BW KVMJ JOMFEEFT FO OFEHร‡OH BMMNร…OU Qร‡ Cร•STFSOB Wร…SMEFOร•WFS%FOVUMร•TBOEFGBLUPSOWBSร•LBEFQSPCMFNJ64" Gร•STLTVCQSJNFMPBOT EWTMร‡ONFEGBTUJHIFUFSTPNTร…LFSIFUUJMM NJOESFLSFEJUWร…SEJHBQSJWBUQFSTPOFS&OGร•STWBHBEGBTUJHIFUT NBSLOBE PDI FO UJEJHBSF BHHSFTTJW VUMร‡OJOH IBEF MFUU UJMM FUU ร•LBU BOUBM Mร‡OUBHBSF NFE CFUBMOJOHTTWร‡SJHIFUFS .FE BNFSJLBOTLVQQรชOOJOHTSJLFEPNIBEFEFTTBMร‡OMBHUTJIPQUJMM TUPSBQBLFUPDITร‡MUTWJEBSFUJMMJOWFTUFSBSFร•WFSIFMBWร…SMEFO 1BLFUNFETUร•SSFSJTL EWTNFEFOTUร•SSFBOEFMMร‡OUJMMEFNJOTU LSFEJUWร…SEJHB Mร‡OUBHBSOB  LVOEF HF FO Iร•H BWLBTUOJOH )VS LVOEF JOWFTUFSBSF  TPN CBOLFS  GPOEFS Nรซ Wร‡HB Lร•QB EFTTB Iร•HBWLBTUBOEFIร•HSJTLQBLFU &OGร•SLMBSJOHLBOWBSBBUUรซFSB ร‡ST TUJHBOEF IVTQSJTFS J 64" J Nร‡OHB GBMM UJEJHBSF SFUU VQQ TJUVBUJPOFO Oร…S FO EFM Mร‡OUBHBSF GBMMFSBU  Eร‡ IVTFO LVOOBU BWZUUSBTUJMMQSJTFSTPNJOOFCVSJUUร…DLOJOHGร•STLVMEFSOB 0NGBUUOJOHFOQร‡EFTTBMร‡Oร…STWร‡SUBUUGร‡HSFQQPN4Jฤ’SPS Qร‡ รธรผรทรทmรนรทรทรท NJMKBSEFS EPMMBS IBS Oร…NOUT * EFU GBMM รธรทmรธรผ QSPDFOUBWEFTTBMร‡OJOUFLBOCFUBMBTUJMMCBLBTLVMMFEFUMFEBUJMM Gร•SMVTUFSJEFUรชOBOTJFMMBTZTUFNFUJWร…SMEFOQร‡JTUPSMFLTPSEOJOH รธรผรทmรบรทรทNJMKBSEFSEPMMBS EWTJNJUUTQBOOFUDJSLBรธรผรทรทNJMKBSEFS 4&,%FULBOTLFMร‡UFSNZDLFU NFOCFUร…OLEร‡BUUCBSBEFGZSB TUPSB TWFOTLB Bฤ’ร…STCBOLFSOB HKPSEF Gร•SSB ร‡SFU WJOTUFS UJMMTBNNBOTQร‡JTUPSMFLTPSEOJOHFOรฟรทNJMKBSEFS4&,PDIEFU WBSGร•SNPEMJHFONJOESFร…OรธQSPDFOUBWWร…SMEFOTTBNNBOMBHEB CBOLWJOTUFS4MVUTBUTFOร…SBUUPNLSFEJUGร•SMVTUFSOBQร‡TVCQSJNF MPBOTJOUFFTLBMFSBSQร‡UBHMJHUTร‡Cร•SEFUUPUBMUTFUUJOUFJOOFCร…SB FUUCFUZEBOEFHMPCBMUQSPCMFN %FO TUBSLB PSPO Qร‡ LSFEJUNBSLOBEFSOB IBS NFS WBSJU FUU SFTVMUBU BW BUU JOWFTUFSBSF Wร…SMEFO ร•WFS JOUF Wร‡HBU JOWFTUFSB J EFTTBMร‡O EWTJOOFIBWBSFBWMร‡OFOIBSJOUFLVOOBUTร…MKBEFN WJEBSF WJE CFIPW  WJMLFU LPSUTJLUJHU Gร•SMBNBU EFU รชOBOTJFMMB TZTUFNFU %FU IBS PDLTร‡ GVOOJUT FO PSP BUU Oร‡HSB CBOLFS JOOFIBัซ TUPSB Nร…OHEFS BW Mร‡O NFE Eร‡MJH LWBMJUFU %FOOB PTร…LFSIFUIBSJOOFCVSJUBUUCBOLFSVOEFSFOQFSJPEWBSJUFYUSB Gร•STJLUJHBNFEBUUMร‡OBVUUJMMWBSBOESBQร‡EFOTLJOUFSCBOL NBSLOBEFO&ONBSLOBETPNร…SFUUWJLUJHUTNร•SKNFEFMGร•SBUU IBOUFSBEBHMJHBGร•Sร…OESJOHBSJCBOLFSTMร‡OFCFIPW /VFัซFSDJSLBUWร‡Nร‡OBEFSIBSEPDLMVHOFUCร•SKBUร‡UFSWร…OEB UJMMEFรชOBOTJFMMBNBSLOBEFSOB#ร•STFSOBVUBOGร•SWร…TUWร…SMEFO PDI+BQBOร‡UFSIร…NUBEFTJHTOBCCU&LPOPNJFSOBEร…SVUWFDLMBT GPSUGBSBOEFTUBSLU PDIEFPWBOOร…NOEBMร‡OFQSPCMFNFOBOTFT VQQFOCBSMJHFO WBSB FUU QSPCMFN FOEBTU Gร•S Wร…TUWร…SMEFO $FOUSBMCBOLFSOBIBSSZDLUVUGร•SBUUTLBQBMVHOmSร…OUPSIBS Tร…OLUT PDI MJLWJEJUFU IBS UJMMGร•SUT CBOLTZTUFNFU HFOPN BUU DFOUSBMCBOLFSOB LPSUTJLUJHU Mร‡OBU VU TUPSB TVNNPS UJMM CBOLFSOB0SPOIBSPDLTร‡NJOTLBUGร•SBUUEFPWBOCFTLSJWOB QSPCMFNFOTLBMMQร‡WFSLBEFOSFBMBFLPOPNJO EWTLPOTVNUJPO  QSPEVLUJPO TZTTFMTร…UUOJOHNN'PSUGBSBOEFUZDLTPQUJNJTNFO WBSB TUPS BUU FO FWFOUVFMM Gร•STWBHOJOH BW FLPOPNJFSOB J Wร…TUWร…SMEFO NFS ร…O Wร…M LPNNFS BUU VQQWร…HBT BW EFO TUBSLB VUWFDLMJOHFOJ,JOB *OEJFO 3ZTTMBOENรซOZBFLPOPNJFS %FOPSPTPNKVTUWBSJUIBSEร‡CBSBWBSJUZUUFSMJHBSFFOUJMMGร…MMJH TUร•SOJOHQร‡EFรชOBOTJFMMBNBSLOBEFSOB%FUCร•SEPDLOPUFSBTBUU

GBTUJHIFUTQSJTFSIBSCร•SKBUGBMMB PNร…OIJUUJMMTTWBHUJOรซBUJPOFO IBSCร•SKBUTUJHBร•WFSTLPUUFUQร‡LBQJUBMCFTUร‡STBNUBUUUJMMWร…YUFOJ BMMUIร•HSFHSBECFSPSQร‡EFOZBFLPOPNJFSOBTPNQSร…HMBTBWFO JOUF PCFUZEMJH QPMJUJTL PTร…LFSIFU 4JTU NFO JOUF NJOTU  TVCQSJNF MPBOT ร…S CBSB FO BW Nร‡OHB รชOBOTJFMMB JOOPWBUJPOFS EF TFOBTUF ร‡SFO 4LVMMF รซFSB รชOBOTJFMMB QSPEVLUFS Gร‡ QSPCMFN TBNUJEJHU  WJMLFU JOUF BMMT ร…S PTBOOPMJLU PN LPOKVOLUVSFS PDI WJOTUOJWร‡FS Gร•STWBHBT LBOFฤ’FLUFSOBQร‡Wร…SMETFLPOPNJOCMJCFUZEMJHUTUร•SSF ร…OEFTVCQSJNFMร‡OFOIJUUJMMTGร•SPSTBLBU 

'รšSรŠOESJOHBSJJOOFIBWFO

6OEFSEFUSFGร•STUBLWBSUBMFOรนรทรทรพIBSCMBGร•MKBOEFTLFUU 'POEFOT JOOFIBW J &SJDTTPO IBS ร•LBU LSBัซJHU PDI WBS WJE LWBSUBMFUTVUHร‡OHGPOEFOTTUร•STUB&SJDTTPOBLUJFOIBSVUWFDLMBUT MJUF TWBHU VOEFS QFSJPEFO PDI Gร•SWร…OUOJOHBSOB Qร‡ CPMBHFUT WJOTUVUWFDLMJOHร…SGร•SIร‡MMBOEFWJTMร‡HUTUร…MMEB,BOEFร•WFSUSร…ฤ’BT Cร•SEFULVOOBรชOOBTFOIZHHMJHLVSTQPUFOUJBM 7JIBSPDLTร‡VOEFSWร‡SFOOร‡HPUร•LBUJOOFIBWFUJ/PLJB#PMBHFU VUWFDLMBTGร•SOร…SWBSBOEFWร…MPDIUZDLTWBSBQร‡Wร…HJOJFOQFSJPE Eร…SCPMBHFUTTUBSLBQPTJUJPOOร…SEFUHร…MMFSNFSBWBODFSBEFUFMFGPOFS LBOMFEBUJMMFOHPESFTVMUBUVUWFDLMJOH 'POEFO IBS Lร•QU BLUJFS J 4XFECBOL TPN FัซFS FO TWBH LVSTVUWFDLMJOH Gร‡UU FO BUUSBLUJWBSF Wร…SEFSJOH %FU รชOOT FO WJTT PSPBUUEFOIJUUJMMTTOBCCBUJMMWร…YUFOJEFOCBMUJTLBCBOLSร•SFMTFO LBO MFEB UJMM ร•LBEF LSFEJUGร•SMVTUFS 7JTBS TJH EFTTB GBSIร‡HPS ร•WFSESJWOBCร•SLVSTQPUFOUJBMFOWBSBHPE *OOFIBWFUJ)BOEFMTCBOLFOIBSPDLTร‡ร•LBUT0NGร•STร…MKOJOHFO BW411Hร‡SJHFOPNTร‡TUร…SLFSEFOCBOLFOTCBMBOTSร…LOJOHWJMLFU Cร•S HF VUSZNNF Gร•S ร‡UFSLร•Q BW BLUJFS  Iร•HSF VUEFMOJOHBS PDI FWFOUVFMMUOร‡HPUGร•SWร…SW *OOFIBWFUJ0.9IBSNJOTLBUVOEFSQFSJPEFO7JEร‡SFUTJOHร‡OH VQQHJDL JOOFIBWFU UJMM รปรทรทรทรทรทรท BLUJFS J 0.9 PDI WJE USFEKF LWBSUBMFUTVUHร‡OHVQQHJDLJOOFIBWFUUJMMรธรนรทรฟรผรทรทBLUJFS*TBNCBOE NFEFUULPOUBOUCVEVQQHร‡FOEFUJMMรนรฝรผ4&,QFSBLUJFQร‡0.9GSร‡O #PSTF%VCBJ-JNJUFE TPNBWTFTGร•MKBTBWFOTBNNBOTMBHOJOHBW /BTEBRPDI0.9 IBSGPOEFOBDDFQUFSBUFOร•WFSFOTLPNNFMTFPN BUUTร…MKBLWBSWBSBOEFรธรนรทรฟรผรทรทBLUJFS*EFUGBMMEFULPNNFSFUUCVE Qร‡ BMMB BLUJFS J 0.9 Wร…SU รบรทรบ 4&, FMMFS NFS QFS BLUJF Tร‡ ร…S ร•WFSFOTLPNNFMTFOPNEFUUJEJHBSFCVEFUJOUFCJOEBOEFGร•SGPOEFO 'POEFOIBSNFEร•WFSFOTLPNNFMTFOCJESBHJUUJMMBUUCVEFUQร‡รนรฝรผ 4&,LPNNJUUJMMTUร‡OE%BHFOTLVST DJSLBรนรฟรท4&, LVOEFCร‡EF WBSJUIร•HSFFMMFSMร…HSFPNJOUFCVEFUQร‡รนรฝรผ4&,Gร•SFMJHHFS 'POEFO IBS VOEFS USFEKF LWBSUBMFU BDDFQUFSBU FUU VQQLร•QT FSCKVEBOEFJ/FGBCVQQHร‡FOEFUJMMฤ€รพ4&,QFSBLUJF 7JIBSLร•QUBLUJFSJ/PCFM#JPDBSFEร…SEFUCร•SรชOOBTNร•KMJHIFUFS UJMM GPSUTBUU UJMMWร…YU NFE HPE Mร•OTBNIFU %FU TPN TBOOPMJLU NFEGร•SUBUUBLUJFOร…SMJUFGร•STJLUJHBSFWร…SEFSBEร…OUJEJHBSFร…SFO WJTT PSP Gร•S IVS TUPSU CFSPFOEFU BW TUZSLBO J LPOTVNUJPOT LPOKVOLUVSFOJ64"ร…SGร•SFOEFMBWCPMBHFUTQSPEVLUFS 4PNUJEJHBSFOร…NOUTIBSJOOFIBWFUJCZHHLPODFSOFO4LBOTLB NJOTLBU 7J IBS PDLTร‡ NJOTLBU JOOFIBWFU J )FYBHPO #PMBHFUT WFSLTBNIFU VUWFDLMBT Wร…M NFO TBNUJEJHU IBS Wร…SEFSJOHFO ร•LBU 6OEFS USFEKF LWBSUBMFU Tร‡MEFT EFU TJTUB LWBSWBSBOEF JOOFIBWFU J 5FMFรน 'POEFO IBS PDLTร‡ Lร•QU NJOESF QPTUFS J TLPHTLPODFSOFO 4$"TBNUCBOLFSOB/PSEFBPDI4&# รผPLUPCFSรนรทรทรพย‡"EBN(FSHF)FOSJL%JEOFS


'POEGÚSNÚHFOIFU *OOFIBW

"OUBM

,VST

'POEFOTVUWTFEBOTUBSUFO   'POEGÕSNÕHFOIFU .LS "OUBMBOEFMBS NJMKTU  "OEFMTWÅSEF LS 6UEFMOJOH LSBOEFM 5PUBMBWLBTUO GPOEFOϗ 0.94UPDLIPMN ϗ 4*93FUVSO JOLMVUE ϗ

*OOFIBW

7ÊSEF.LS

.BUFSJBM    )ÕHBOÅT ϚϠϙϙϙϙϙ ϚϠϚ ϙϙ ϛϢϙ Ϡ 4$"# ϝϡϙϙϙϙ Ϛϛϙ ϛϞ ϞϠ Ϡ *OEVTUSJWBSPSPUKÅOTUFS    "BSIVT,BSMTIBNO ϛϙϙϙϙϙϙ ϚϞϚ ϙϙ Ϝϙϛ ϙ "TTB"CMPZ# ϜϡϞϡϡϙϙ ϚϜϜ ϠϞ ϞϚϟ Ϛ #FJKFS"MNB ϡϙϙϙϙϙ Ϣϛ Ϟϙ Ϡϝ ϙ 'BHFSIVMU ϝϙϠϙϙ Ϛϝϟ Ϟϙ ϟ ϙ )FYBHPO ϜϡϞϠϡϙϙ ϚϜϙ ϠϞ Ϟϙϝ ϝ )-%JTQMBZ Ϝϡϙϙϙϙ ϚϢϡ ϙϙ ϠϞ ϛ *OUSVN+VTUJUJB ϛϙϢϙϙϙ Ϛϙϙ ϛϞ ϛϚ ϙ .VOUFST ϚϠϞϙϙϙ ϢϜ ϙϙ Ϛϟ Ϝ /FGBC ϡϛϞϛϙϙ Ϣϟ ϠϞ ϠϢ ϡ /JCF ϞϜϚϙϙϙ ϟϝ Ϟϙ Ϝϝ ϛ /PCJB ϚϡϙϞϛϙϙ ϟϛ ϙϙ ϚϚϚ Ϣ 4FDVSJUBT ϠϟϜϞϙϙϙ ϡϞ ϙϙ ϟϝϢ ϙ 4FDVSJUBT4ZTUFNT Ϛϛϡϙϙϙϙϙ ϛϜ ϡϙ Ϝϙϝ ϟ 4LBOTLB ϚϠϚϜϙϙϙ ϚϛϠ ϠϞ ϛϚϡ ϡ 5SFMMFCPSH ϝϙϛϞϙϙϙ ϚϞϛ ϙϙ ϟϚϚ ϡ 4ÅMMBOLÕQTWBSPS    $MBT0IMTPO ϛϢϠϙϙϙ ϚϞϠ Ϟϙ ϝϟ ϡ &MFDUSPMVY# Ϝϙϡϙϙϙϙ ϚϜϟ Ϟϙ ϝϛϙ ϝ )FOOFT.BVSJU[ ϛϚϜϙϙϙϙ ϝϙϡ Ϟϙ ϡϠϙ Ϛ )VTRWBSOB" ϠϚϚϠϙϙ ϡϛ ϛϞ Ϟϡ Ϟ )VTRWBSOB# ϛϞϟϝϢϙϙ ϡϜ ϛϞ ϛϚϜ Ϟ ,BQQBIM ϠϟϙϞϙϙ ϟϡ ϙϙ ϞϚ Ϡ 4FDVSJUBT%JSFDU ϠϙϝϞϙϙϙ Ϛϡ Ϣϙ ϚϜϜ ϛ )ÅMTPWÇSE    /PCFM)PMEJOH ϟϞϛϢϙ ϚϠϜϠ ϙϙ ϚϚϜ ϝ 'JOBOTPGBTUJHIFU    )BOEFMTCBOLFO" ϛϜϛϙϙϙϙ ϛϙϙ ϙϙ ϝϟϝ ϙ -BUPVS# ϞϠϙϙϙϙ ϚϚϠ Ϟϙ ϟϠ ϙ .4"# ϛϠϞϙϙϙ ϚϚϠ ϛϞ Ϝϛ ϛ /PSEFB ϝϙϙϙϙϙ ϚϚϛ Ϝϙ ϝϝ Ϣ 0.9  ϚϛϙϡϞϙϙ ϛϟϞ ϙϙ Ϝϛϙ Ϝ 4&# Ϟϙϙϙϙ ϛϙϢ Ϟϙ Ϛϙ Ϟ 4XFECBOL" ϚϝϝϠϜϙϙ ϛϚϞ Ϟϙ ϜϚϚ Ϣ 4ÅL* Ϟϙϙϙϙϙ ϡϙ ϙϙ ϝϙ ϙ *OGPSNBUJPOTUFLOJL    "YJT Ϟϙϙϙϙ ϚϜϢ ϙϙ Ϡ ϙ $ZCFS$PN$POTVMUJOHϛϢϛϟϙϙ ϟϛ ϛϞ Ϛϡ ϛ $ZCFS$PN#5" ϛϙϜϟϡϙ ϟϚ ϛϞ Ϛϛ Ϟ &SJDTTPO# ϝϛϡϙϙϙϙϙ ϛϞ ϡϙ ϚϚϙϝ ϛ *#4 ϚϠϜϞϙϙϙ ϚϞ Ϡϙ ϛϠ ϛ

Ϝ Ϛϗ ϛ ϟϗ ϙ Ϟϗ ϜϚ Ϟϗ ϛ Ϡϗ ϝ ϟϗ ϙ Ϡϗ ϙ Ϛϗ ϝ Ϟϗ ϙ Ϡϗ ϙ ϛϗ ϙ Ϛϗ ϙ Ϡϗ ϙ Ϝϗ Ϛ ϙϗ Ϟ ϡϗ ϛ Ϡϗ ϛ ϙϗ Ϟ Ϟϗ Ϛϟ Ϛϗ ϙ ϝϗ Ϝ ϡϗ Ϡ ϡϗ ϙ Ϟϗ Ϛ Ϣϗ ϙ Ϟϗ Ϛ ϛϗ Ϛ ϙϗ Ϛ ϙϗ ϚϚ Ϟϗ ϝ ϛϗ ϙ ϟϗ ϙ Ϝϗ ϙ ϝϗ ϛ Ϣϗ ϙ Ϛϗ ϛ ϡϗ ϙ ϝϗ ϛϚ Ϣϗ ϙ Ϛϗ ϙ ϛϗ ϙ Ϛϗ Ϣ Ϣϗ ϙ ϛϗ



"OUBM

 /PLJB0ZK4WFSJHF ϜϚϙϙϙϙϙ /PWPUFL ϞϚϙϙϙϙ 0&. ϜϚϙϛϙϙ 5FMFDB ϜϙϝϞϙϙϙ 5JFUP&OBUPS ϛϚϚϟϙϙϙ 5SBEFEPVCMFS ϟϢϙϙϙϙ 9QPO$BSE ϡϞϙϙϙ 6UMÅOETLBBLUJFJOOFIBW  "MMJBO[ Ϛϙϙϙϙϙ %BJNMFS$ISZTMFS ϞϞϙϙϙϙ &LPSOFT ϡϢϙϙϙϙ /PLJB0ZK'JOMBOE Ϛϙϙϙϙϙϙ /PWP/PSEJTL# Ϝϛϙϙϙϙ  4VNNBWÅSEFQBQQFS   ¸WSJHBUJMMHÇOHBSPDITLVMEFS  #BOLUJMMHPEPIBWBOEF  'PSESJOHBS TÇMEBWÅSEFQBQQFS   6QQMVQOBLPTUOBEFS  4LVMEFS LÕQUBWÅSEFQBQQFS    'POEGÕSNÕHFOIFU  

,VST

 ϛϝϞ ϜϜ ϚϢ ϛϙ ϝϡ Ϣϙ ϚϞ Ϟϙ ϚϝϞ ϠϞ ϚϡϚ ϙϙ ϚϛϢ Ϟϙ  ϚϞϙϠ ϞϞ ϟϝϢ ϛϛ ϚϜϠ ϡϛ ϛϝϞ ϜϜ ϠϠϡ ϟϢ

7ÊSEF.LS

  Ϡϟϙ Ϟ ϟ ϡϗ Ϣ ϡ ϙ Ϛϗ ϚϞ ϛ ϙ Ϛϗ ϝϠ ϛ ϙ ϝϗ Ϝϙϡ ϝ ϛ ϡϗ Ϛϛϝ Ϣ Ϛ Ϛϗ ϚϚ ϙ ϙ Ϛϗ  Ϛϙ Ϛϗ ϚϞϙ ϡ Ϛ Ϝϗ ϜϞϠ Ϛ Ϝ ϛϗ Ϛϛϛ Ϡ Ϛ Ϛϗ ϛϝϞ Ϝ ϛ ϛϗ ϛϝϢ ϛ ϛ ϛϗ

 ϚϙϟϝϜ Ϛ ϢϞ ϛϗ     

 ϟϞϡ Ϡ Ϡϝ ϝ ϚϚ ϛ Ϛϡϡ Ϝ

ϝ ϡϗ    

 ϚϚϚϠϟ ϠϚϙϙ ϙϗ

0.9WÅSEFSBTUJMMϛϟϞ4&,JFOMJHIFUNFEBWUBMJTBNCBOENFEVQQLÕQTFSCKVEBOEF    

657&$,-*/(&/ "7 "/%&-47­3%&5 0$) 0.9 450$,)0-.  m 



%JEOFS(FSHF"LUJFGPOE  





0.94UPDLIPMN

           





ϚϚϚϠϠ ϚϚϝϟϜ ϚϙϢϙϟ ϠϠϢϚ Ϣ Ϡϙϙ Ϛϙ ϝϟϜ ϚϚ ϟϠϡ Ϛϙ ϢϢϙ ϚϚϞϛ ϝ ϚϙϢϝ ϝ ϢϜϜ ϢϚ Ϡϙϡ ϡϟ ϝϚ ϜϞ Ϛϡ ϛϝ Ϛϛ ϟϚ Ϣ Ϡϛ Ϣ ϙ ϚϢ ϟ Ϝϝ ϙ ϛϙ Ϣ ϝ ϟ ϛϜ ϟ Ϝϛ ϟ ϚϠ ϟ ϡ ϝ ϛϡ Ϛ Ϝϟ Ϝ ϛϙ ϡ

ϝϢϙϜ ϡ ϛϝϢ ϞϢϝ Ϝϡ Ϛϛ ϜϜ ϜϜ ϝ ϛϢ ϡ Ϝϝ ϛ

 









 

ϜϚϙϟ ϜϠϠϡ ϛϟϚϢ ϡϜϜ Ϛ ϝϚϟ ϟ ϛϟϛ Ϟ ϡϠ Ϛ Ϛϡ Ϟ ϟ Ϡϡϝ Ϟ ϜϟϠ Ϝ ϢϙϢ Ϛ ϝϛϡ Ϛ ϚϞϙ ϙ ϡϢϞ ϙ ϝϙϡ ϙ ϚϜϢ ϝϞϠ ϡϙ ϠϙϜ ϡϢ ϟϟϢ ϡϞ ϞϡϜ ϜϜ Ϝϟϛ ϛϙ ϛϢϜ ϛϞ ϛϚϜ ϛϡ ϚϜϜ ϠϠ Ϣ ϜϞ Ϝ Ϟϙ ϝ ϞϞ ϝ ϢϜ ϛ ϝϜ ϙ Ϡϙ ϙ ϟϢ ‡ mϜϝ ϙ Ϟ Ϡ ϚϞ ϟ ϟϜ Ϛ ϛϝ Ϝ ϜϠ Ϣ ϟϙ ϛ ϛϢ ϟ mϜϠ ϝ mϚϟ Ϣ mϚϛ ϙ ϟϟ Ϟ Ϛϙ Ϣ ϛϠ ϙ ϜϢ ϝ Ϛϡ Ϝ mϜϞ Ϣ mϚϝ Ϣ mϚϙ ϡ ϟϢ ϡ ϚϜ Ϛ ϛϠ Ϣ ϝϛ ϟ ϛϙ Ϡ

'POEFOKÊNGÚSUNFE 0.94UPDLIPMN ϗ 4*93FUVSO JOLMVUE ϗ

ϝ ϝ

ϙ ϟ

mϝ ϙ mϡ Ϟ

Ϛ ϝ mϛ Ϝ

Ϝ Ϝ

ϙ Ϛ

Ϝ ϟ mϙ ϡ

Ϝ ϝ ϛϛ Ϟ ϛϠ ϟ

Ϛ Ϣ ϛϙ Ϟ ϛϟ ϝ

mϜ ϝ ϚϜ ϝ Ϛϙ ϡ ϛϙ ϡ ϚϚ Ϝ mϟ Ϡ ϚϚ ϛ Ϣ Ϣ ϚϠ ϟ ϡ Ϣ







 



0.94UPDLIPMNIFUUFUJEJHBSF4UPDLIPMN"MMm4IBSF

½WSJHJOGPSNBUJPO $PVSUBHF .LS $PVSUBHFJϗBWPNTÅUUOJOH (FOPNTOJUUMJHGPOEG .LS $PVSUBHFHFOPNTGPOEGϗ 0NTÅUUOJOHTIBTU HHSì 5PUBMLPTUOBETBO 5," ϗí 5PUBMFYQFOTFSBUJP 5&3 ϗî

  ϡ Ϝϙ  Ϡ ϟϚ ϙ ϙϟ  ϙ ϙϡ ϚϚϜϠϠ  ϚϙϢϡϙ ϙ ϙϠ  ϙ ϙϠ ϙ Ϟϙ  ϙ ϜϠ Ϛ Ϝϙ  Ϛ ϛϢ Ϛ ϛϜ  Ϛ ϛϛ

ϚϚ ϚϞ Ϣ Ϟϝ ϙ ϚϚ ϙ ϚϚ ϢϜϙϡ ϟϞϜϙ ϙ Ϛϛ ϙ ϚϞ ϙ Ϟϝ ϙ Ϟϛ Ϛ ϜϞ Ϛ ϜϢ Ϛ ϛϜ Ϛ ϛϝ







ϝ ϚϠ Ϡ ϛϢ ϡ Ϛϝ ϟ ϙϛ ϛ ϛϟ Ϛ Ϝϡ Ϛ Ϝϟ ϙ Ϛϙ ϙ Ϛϛ ϙ Ϛϛ ϙ Ϛϟ ϙ ϛϙ ϙ ϛϙ ϙ ϛϞ ϝϙϚϢ ϜϞϟϙ ϜϙϠϡ ϚϜϟϙ ϞϞϜ ϙ Ϝϝϡ Ϡ ϚϢϟ ϝ ϙ Ϛϙ ϙ ϛϙ ϙ ϛϟ ϙ ϝϝ ϙ ϝϚ ϙ ϝϙ ϙ ϟϢ ϙ ϝϞ ϙ Ϡϙ ϙ ϢϢ ϙ Ϡϟ ϙ ϢϜ ϙ ϡϢ Ϛ ϚϚ Ϛ Ϝϟ Ϛ ϝϝ Ϛ ϝϢ Ϛ Ϡϙ Ϛ Ϡϛ Ϛ Ϡϙ ϛ ϙϜ Ϛ ϛϟ Ϛ ϛϜ Ϛ ϛϛ Ϛ ϛϟ Ϛ ϜϚ Ϛ Ϝϙ Ϛ Ϝϝ

  ϙ ϜϞ ϙ Ϝϙ ϜϢ Ϣ ϙ ϡϡ Ϛ ϛϛ ϛ ϛϜ Ϛ ϜϞ

ϙ ϚϞ ϙ Ϝϙ Ϛϙ Ϛ Ϛ ϝϡ Ϛ ϢϢ ϛ ϢϜ Ϛ ϝϞ

4FOBTUFϚϛNÇOBEFSOB Ϛ 0NTÅUUOJOHTIBTUJHIFUEFêOJFSBTTPNGPOEFOTTBNNBOMBHEBGÕSTÅMKOJOHBWBLUJFS PNEFUÅSNJOESFÅOTVNNBLÕQ EJWJEFSBUNFEHFOPNTOJUUMJHGPOEGÕSNÕHFOIFU NÇOBETWJTCFSÅLOBU  ϛ 5PUBMLPTUOBETBOEFMEFêOJFSBTTPNTBNUMJHBBWHJѫFS TFBWTOJUUFU,PTUOBEFSJGPOEFOTGÕSWBMUOJOHTCFSÅUUFMTFTJEϚϝ PDIDPVSUBHFJQSPDFOUBWGPOEFOTHFOPNTOJUUMJHBGÕSNÕHFOIFU VOEFSTFOBTUFϚϛNÇOBEFSOB Ϝ 5PUBMFYQFOTFSBUJPEFêOJFSBTTPNTBNUMJHBBWHJѫFSJQSPDFOUBWGPOEFOTHFOPNTOJUUMJHBGÕSNÕHFOIFUVOEFSTFOBTUFϚϛNÇOBEFSOB EWTTPN5,"NFOGÕSVUPNDPVSUBHF 

/KvartalsrapportQ32007  

http://www.didnergerge.se/UL/File/report/KvartalsrapportQ32007.pdf