Page 1

PIONEREN FUXZgVeRWD\ZgV8Rc_Zd`_

)ËcXR_X?c#RacZ]#!"#




:_UY`]U

Ingeniør regimentet

$

@SVcdeV_YRc`cUVe

%

$!!gÌc_Va]ZXeZXVS]VgSfUegRc^egV]\`^^V_eZ]D\ZgV

&

2ceZ\V]WcR:D27Y`]U"$€3cZeVc_VSVdeV^^Vc

"!

ERd\7`cTV(VcaËa]RUd

"#

ERd\7`cTV(

"&

5Ve_jV:8C€¾[VW`cWcV^eZUV_

#$

?Rg_V?je

#'

5V5R_d\VAZ`_VcW`cV_Z_XVc

5V5R_d\V Pionerforeninger

HHHD<:G6<2D6C?65<

FUXZgVdRW+

CVUR\eZ`_

D\ZgV8Rc_Zd`_ DUc3`f]VgRcU"& ()!!D\ZgV EV]VW`_(##)%!!! hhhd\ZgV\RdVc_VU\

2_dgRcdYRgV_UVCVUR\eÞc+ >R[`cA`f]=RddV_ EV]VW`_(##)&!""

rA:@?6C6?}fU\`^^Vc+ &WVScfRc&RacZ]&[f_Z &RfXfde&`\e`SVc`X &UVTV^SVc

HHHA:@?6CD@=52E5<

7`cdZUVW`e`+

CVUR\eÞc @gVc\`_deRSV]"2c_VD9R_dV_ <`_eR\eaVcd`_W`cR__`_TÞcVc 2U^Z_ZdecRe`caË+ Yeea+ W T"% T"* :8C EV]VW`_(##)%!!) ##)$)%!* Rc_VYR_dV_1^Z]U\

:DD?+"*!#!(&* 9`]U_Z_XVcfUecj\eZA:@?6C6? VcZ\\V_ÞUgV_UZXgZdZ`gVcV_d deV^^V]dV^VU:_XV_ZÞccVXZ ^V_eVedY`]U_Z_X



5VRU]Z_V :_U]ÌXeZ]_ÌdeV_f^^Vcd\R]gÌcV cVUR\eZ`_V_ZYÌ_UVdV_VdeUV_ "%^R[#!"#

:_UVZS]RUVegZ]UfdeÞUVaËBC \`UVc>VUUZ_d^RceaY`_V\R_ UfdTR__V\`UV_`XWËRUXR_X eZ]UV_:_eVc_VedZUV\`UV_Vc ac`XcR^VcVeeZ]Ac`XcR^^VeeZ] ReËS_V\`UVc_V^VUDTR_=ZWV \R_YV_eVdXcReZdaË2_Uc`ZU >Rc\VeV]]Vc:aY`_V2aaDe`cV


@SVcdeV_YRc`cUVe

2W@SVcde 42cZ]UdV_

<ÌcVXV_VcR]3RcecR^ 9[VceV]ZXeZ]]j\\V^VUfU_Ìg_V]dV_ ?fXÌ]UVcUVe :UV__Ìc^VdeVWcV^eZUd\R]UVcecÌWWVdde`cV`X^VXVeSVejUV]ZXVSV d]fe_Z_XVc`^ `^]ÌX_Z_XRWW`cdgRcVe5VSVd]fe_Z_XVcS]ZgVcRW]R_XedeÞccVcÌ\\VgZ UUVV_UgZYRcdVe gVUUZgVcdVW`cdgRcdW`c]ZX`gVcUVdV_VdeV$!Ëc7`cdgRcVed\R]_V^]ZX daRcVTR$^ZR \cV]]VcTR"&aËSfUXVeeVeWcR#! "&^V_R]]VcVUVWcR#! "$gZ]_ VUecRa_Z_XeZ]UVe_jV _ZgVRfdeRceV ?fXÌ]UVcUVe`^ReY`]UVWRdegVU7`cdgRcVed\Vc_V\RaRTZeVeVc+>Z]ZeÌ cVV_YVUVcUVc \R_\Ì^aV`XgZ_UV6_YVUVcUVcVcgV]ecÌ_VUV^`eZgVcVUV`Xe`aac `WVddZ`_V]]V`X fUcfdeVe^VUX`Ue^ReVcZV]`XXcV[DËUR__VV_YVUVcYRcgZgVU:_XV_ZÞ cec`aaVc_V+ AR_dVc`X^V\R_ZdVcVUVZ_XV_ZÞcVcUVc\R_XËW`ccVde`XSR_VgV[V_ SjXXV Sc`Vc`XcjUUV^Z_VWV]eVc\`_decf\eZ`_d`X43C?V_YVUVcUVc\R_Sj XXV]V[cV `X]VgVcVSVd\jeeV]dVdR^e6@5V_YVUVcRWW`cd\V]]ZXRceUVc\R_cjUUV S`^SVcZ dËgV]<ÞSV_YRg_d`^Z9V]^R_UGZ]ÞdVc`aXRgVc_ReZ`_R]e#% (`XZ_ eVc_ReZ`_R]e 6_YVUVcUVcVcSËcVeRWY`]U_Z_XeZ]Re`aXRgV_VcZTV_ecf^`XUV_d\ R]]ÞdVdGVU :_XV_ZÞcec`aaVc_VVcd`]UReVc_VaËVeYÞ[eWRX]ZXe_ZgVRfUVcd\j]UVdX cf_UZX`X`WeV ]R_XgRcZXdaVTZR]fUUR__V]dV5Ved\R]gZS]ZgVgVU^VU 5VegZXeZXdeVVcRegZSVgRcVcVefUgZ\]Z_Xd`XfUUR__V]dVd^Z][ÞUVc YRceZ]decÌ\\V]ZXe ^VU\`^aVeV_TVceZ]Re`acVeY`]UVUVee`aac`WVddZ`_V]]V_ZgVRfW`cdËg V]UVe_ReZ`_R]V SVcVUd\RSZ_UV_W`cS`^SVcjU_Z_X`X43C?deÞeeV_eZ]5ZgZdZ`_V_d`XS cZXRUVc_Vd WÞcZ_Xd\`^aV_eV_TVÞgV]dVdgZc\d`^YVU`XgVUg`cVdV_YVUVcUVcfUd V_UVdeZ] 9V]^R_U7`c:_XV_ZÞcec`aaVc_VdgVU\`^^V_UVW`cVXËcUVeZD\ZgVf_U VcV_YReZVe Z_eV_dZgedR^RcSV[UV^V]]V^deRSV_`XUVecVSReR][`_Vc9Vc _UVdd R^eZUZX\RccZVcV`X gZUVcVfUgZ\]Z_Xd^f]ZXYVUVcW`cR]eaVcd`_V]ZV_ScVUgZWeVRWZ_XV_ZÞc\Ra RTZeVeVc GZVcdV]gWÞ]XV]ZX\]RceZ]RedVaËgÌc_dWÌ]]Vd]Þd_Z_XVc`X^V_Vc`XdË ReUVc\R_S]ZgV _`XVecZXeZXeX`UefURWUVeGZd\R]dVaËR_gV_UV]dVRW^Z]ZeÌcV\RaR TZeVeVcZR_UcV `aXRgVcXVc_VZdR^RcSV[UV3VcVUd\RSddejcV]dV_V]]VcR_UcV8V_`aSjX _Z_Xd`aXRgVc`X \ReRdec`WVY[Ì]a]ZXXVc]ZXVW`c 9g`cd\R]UVde`cVSVdaRcV]dVcdË _UVd07Þcde`XWcV^^VdeZdeÞeeVdecf \efcV_XV__V^ cReZ`_R]ZdVcZ_XVcRWUVa`eVcgÌc\deVUVcaVcd`_V]W`cgR]e_Z_X^g^V _`XdËgVURe\ZXXV aËgÌc_dWÌ]]Vd]Þd_Z_XVcYg`cUZddV\R_gÌcVeZ]XRg_GZ^ËZUV_`aV cReZgVdecf\efc RTTVaeVcVRe_ZgVRfVeW`cdeÞeeVaËV_UV]`^cËUVcgZ]Uj\\V 93

:_UVZS]RUVe\R_:]ÌdV`^YV]VecVW`cd\V]]ZXVZ_XV_ZÞc\RaRTZeVeVc Z_UdReZ2WXYR_ZdeR_+7Þcde`XWcV^^VdeVc:_XV_ZÞcUVeRTYV^V_eVe aËY`]U"$R]]VcVUV\`^^Ve^VXVeX`UeWcRdeRce7`cUVe R_UVeV_RceZ\V]WcRV_RWg`cVd`W TVcVcUVcdR^^V_^VU ;ÌXVc\`cadVeERd\7`cTV(`aVcVcVc^VUecÌ_Z_XRWUVRWXYR_d\V dZ\\VcYVUddejc\Vc`XV_UV]ZXYRc<`_decf\eZ`_d\`^aRX_ZVedeËVe W`cVeRS]VcZ_XRW]V[cWRTZ]ZeVeVceZ]ERd\7`cTV( 8`UW`c_Þ[V]dV^VU]Ìd_Z_XV_




$!!gÌc_Va]ZXeZXVS]VgSfUe gRc^egV]\`^^V_eZ]D\ZgV 2W+<`_df]V_e9R__VE`ca3c`UVcdV_D\ZgV<`^^f_V

EcRUZeZ`_V_ec`SÞUD\ZgV<`^^f_V`X D\ZgV<RdVc_VWcVURX"!WVScfRcgRc^e gV]\`^^V_eZ]TR$!!gÌc_Va]ZXeZXV 5Vf_XV^V__Vd\Vcd\R]UV_ÌdeV cV ^Ë_VUVcRWe[V_VUVcVdgÌc_Va]ZXeY`d :_XV_ZÞcec`aaVc_VaË\RdVc_V_ZD\ZgV D\ZgV<`^^f_V`XD\ZgV<RdVc_VYRcVe eÌedR^RcSV[UVaË^R_XVWc`_eVc+7V[cZ_X RW?ReZ`_R]7]RXURX`X:_XV_ZÞcec`aaVc_Vd WÞUdV]dURXTYRc^V`WWV_dZg`gVcW`c\RUVeeVc_V WcR9ÌcV_d@W TVcdd\`]V`XZ\\V^Z_Ude dR^RcSV[UVe`^\cZ_Xe`XR_XVYgVceËcReSjUV gV]\`^^V_eZ]V_de`c `\f_XVgÌc_Va]ZXeZXV DZUde_Ìg_eVd\VcV_WcVURXW`c^ZUURXZ YV_Y`]UdgZdWVScfRc`XRfXfde GVUdV_VdeVgV]\`^de^ÞUVYRgUVD\ZgV <`^^f_VgR]XeReW`\fdVcVaËUVf_XV gÌc_Va]ZXeZXVdZ_Uecj\RWURXV_`XeR]eVZ aRfdV_^VU=Rcd4YcZdeZR_9gZUdeV_7j_WcR (\`^aRX_ZDZ^`_Da]Zee`cWD[Ì]]R_U`XdË (\`^aRX_Z`X<RdaRc3Rc\Y`]e9`cdV_dWcR '\`^aRX_Z9VcXRgUVf_XVUVcVdcVda`_d aËW`c^ZUURXV_dgV]\`^de^ÞUV`XW`ceR]eV `^UVcVdW`cgV_e_Z_XVceZ]UV\`^^V_UV% ^Ë_VUVcaË\RdVc_V_+ €;VXec`cUVeS]ZgVcYËcUe^V_`XdË^VXVe daÌ_UV_UV`X]ÌcVcZXeReXV__V^WÞcV93F|V_ dRXUV=Rcd4YcZdeZR_9gZUdeV_

<RdaRc3Rc\Y`]eWÞ[VUVeZ]+ €:_XV_ZÞcec`aaVc_VdZ_UdRedaË_ReZ`_R]e`X Z_eVc_ReZ`_R]ea]R_d`^S]VgXV__V^XËVeRW g`cVdcVXZ^V_edTYVWXRg`dVeX`UeZ_US]Z\ ZYgRUUVcgV_eVcW`cR_`dYgZdgZÞ_d\VcRe W`cedÌeeVg`cVd\RccZVcVZ_UV_W`c7`cdgRcVe @XdËS`cX^VdeVc7]V^^Z_X6d\Z]UdV_d`a]ÌX `X`a]ÌXXVeWcR^VUV[VcV_RW<4=<f]efc: D <_fU3[VccVXRgUVecVf_XVgÌc_Va]ZXeZXVVe X`UeZ_US]Z\ZUV^R_XVeZ_XUVcd\VcZD\ZgV+ ;VXec`VUVWR\eZd\Z\\VReD\ZgVSjYRgUVdË ^R_XVZ_USjXXVcV`XdË^R_XVeZ]SfUUVe XZgVc[`S]R^f]ZXYVUVcW`cV_WVde]ZXRWeV_Z SjV_`^e`cdURXV_`a]jdeVDZ^`_Da]Zee`cWW ^VUVeX]Z^eZÞ[Ve :_eVcgZVhVeRWd]feeVUVd^VUV_ZXYVUZS]R_Ue UVecVf_XVYVccVc`^Re|3jV_d@W TZV]]V GV]\`^de|VcVeX`UeZ_ZeZReZg^VU^RddVcRW X`UV`XcV]VgR_eVZ_W`c^ReZ`_Vc_Ëc^R_ _Ve`aVc\`^^VeeZ]SjV_ 6WeVcZ_eVcgZVhVeZ]VUVUVgÌc_Va]ZXeZXV dR^^V_^VUUVcVd^R_XVR_UcV_jV|\`]]VXVc| ZXV_Z_UZ\`_TVcedR]V_9Vcde`UUV_aËbfZk `^D\ZgVVX_V_`X\`_TVce^VUAcZ_dV_d >fdZ\\`cadUVcgR_V_ec`W`c^ËVUVReWjcV X`Ue`af_UVcUVgÌc_Va]ZXeZXV7ÞcdeVUV] RWac`XcR^^VeRWd]feeVUVd^VUd`URgR_U`X dR_UhZTYWÞcURXV_RWd]feeVUVd^VUV_ÌXeV |UcV_XVcÞgd ]^|CVR]DeVV]








3cZeVc_VSVdeV^^Vc :856E:D27Y`]U"$Vc\`^^VeX`UeWcR]R_UZUV__jVdecf\efcYg`c3cZeVc_V _fYRc\`^^R_U`V_`gVcUVeUVcWÞcgRcVeUR_d\R_dgRcd`^cËUVZ9V]^R_U

D\cVgVeRW>`ceV_7¾ :8@ D\ZWeVeWcRUR_d\eZ]ScZeZd\R_dgRcYRcSVejUVe ReTYVWV_W`c3Ree]V8c`fa?6D?`XR]]VYR_d dV\eZ`_TYVWVc;";*_fVcScZeZd\V5VeeVXÌ]UVc `XdËW`cWf_\eZ`_V_3Ree]V8c`fa6_XZ_VVc 386YVUUVc;R_V`XYf_YRc_fUVeWf]UV R_dgRcW`cUVdR^]VUVZ_XV_ZÞc\RaRTZeVeVc 5VeVc;R_VUVcXV__V^WÞcVcUV_ScZeZd\V `gVcgV[V]dVd^Ve`UZ\(BfVdeZ`_dW`cfU W`cR]]V`aVcReZ`_Vc>Z_Wf_\eZ`_d`^ UR_d\Z_XV_ZÞc`W TVcVcdËReSZUcRXV ^VUUR_d\VZ_XV_ZÞc\RaRTZeVeVc`X^f]ZXV ]Þd_Z_XVceZ]UZddV`aVcReZ`_Vc_Refc]ZXgZd XV__V^3865V_de`cVfUW`cUcZ_XVcYVcRe :_XV_ZÞcUVeRTYV^V_eVeVc^VXVeWRde]ËdeZ UV_UVTV_ecR]ZdVcZ_XgZVcf_UVc]RXe:W`cY`]U eZ]eZU]ZXVcVY`]U`aVcVcVcgZ_f^VUWRdeV f_UVc]ÌXXV]dVdW`cY`]UdZ^aV]eYV_W`cUZ RegZd\R]deÞeeVd`^^`SZ]ZeVeWcV^^VcgVU R_gV_UV]dVRWdVRcTY:_XV_ZÞcd`]UReV_dÞcXVc dZ^aV]eYV_W`cReR_UcV\R_\`^^VdZ\\VceWcR Veaf_\eeZ]VeR_UVe >R_\R_dZXVReUVegZeZ]SjUVcScZeVc_VVc _`X]V~WÌcUZXVUR_d\VaR\\Vc~5ZddVaR\\Vc Z_UVY`]UVcdËYV]VaR]VeeV_RWZ_XV_ZÞcVc

Z_WR_eVcZRceZ]]VcZdR_ZeVeS[ÌcX_Z_X`dg5Ve YRcgZdV]gWÞ]XV]ZXacÞgVeWÞc^V__fVcUVe Z\\V\f_ZW`cSZ_UV]dV^VUdeÞccV`aVcReZ`_Vc ^V_`XdËZYgVcURXV_RegZdeÞeeVcZV_WRde UVTV_ecR]ZdVcVecR^^V ?Ëc`gVcd\cZWeV_]jUVc~3cZeVc_VSVdeV^^Vc~ dË^V_VdUVegZc\V]ZXVWeVcecj\\V]ZXReUV SVdeV^^Vc5VcVc^R_XVeZ_Xd`^VcS]VgVe Ì_UcVeWcR9`]U"#eZ]"$YVceÌ_\VdZdÌc aËRedÞ_URXZ\\V]Ì_XVcVVcYV]]ZXURX^V_ _fVcWcVURXUV_URXYg`cgZY`]UVcV_YR]g WcZURX3cZeVc_VÞ_d\VcYVc^VUReWÞ]XVUV_ ^fd]Z^d\VecRUZeZ`_7`cUVeRTYV^V_eVe SVejUVcUVef^ZUUV]SRceRecV_XÞcZ_XV_ RWeV]eV_V`XAZeeV_Vc jeeVe`XRe~d\[`ceV dÞ_URX~VcS]VgVeeZ]~d\[`ceVWcVURX~7`c ÞgcZXeV_dfaVcecRUZeZ`_d`^VeeZU]ZXVcV Y`]U:D27Z_XV_ZÞcVcdeRceVUV5V_ScZeZd\V CVXZ^V_eR]DVcXV_e>R[`c8]V__WcR8cV_RUZVc 8fRcUdUV_ScZeZd\VaV_UR_eeZ]]ZgXRcUV_ dj_VdReUVeVcWcZd\eX[`ceRW`d`XVedfaVc RWScÌ\ZV_V]]VcdcfeZ_VacÌXVeYgVcURX8]V__ VcW`cÞgcZXeTYVWV_W`caË\]ÌU_Z_Xda`]ZeZVeYVc Z>@3AcZTVUVc\R_gZUR_d\VcV]ÌcV_`XVe DËUR_V_Wf_\eZ`_\f__VgZc\V]ZXgÌcVcRcRe YRgV

DËUR_dËd\Z]eVefUUR5< deRUZXgÌ\SVdeV^eV

?jVeZUVc

CVXZ^V_eR]DVcXV_e>R[`c57:84:6525G




5VXÌgVdgV_UVWcR"A?:88CAVWeVcV_*eZ^VcdW`UaRecf][VZDRZUR_

5VeRTYV^V_eVedeÞeeVc_fWRdeecVW`cd\V]]ZXV UR_d\VV_YVUVc GZYRce`:88CAd`^deÞeeVc34`j:<<<>A YgVcURXWcRaRecf][VSRdV9RkcRe`XWcR>@3 AcZTV:A39RkcReVcYgVcURXV_acÌXVeRW[`Z_e aRec`]]Z_X^VU2?2UVcXV__V^WÞcVdTR% aRecf][VcZ_Ìc`^cËUVe2?2VcdV]g^VUeZ]Re a]R_]ÌXXVcfeV_`XXV__V^WÞcVcUV_`XdËW`c UVe^VdeV5V_R_UV_Z_XV_ZÞcXcfaaVdeÞeeVc d`^BC7:C8`XeZ]UZgVcdVXc`f_U^`gVd ^V]]V^A3|Vc`X>@3

A?>:C<SVdÌe_Z_Xd`gVcfUV



5V_ecVU[VZ_XV_ZÞcXcfaaV`XA?>:C< SVdÌe_Z_XV_deÞeeVc2EC@@A<G856=WcR >@3AcZTV5VcVdacZ^ÌcV`aXRgVVcRedeÞeeV `XXV__V^WÞcVc`aVcReZ`_Vc 5V_dZUdeVZ_XV_ZÞcXcfaaVdeÞeeVcA@>=E^VU URXdaRecf][VcZ`X`^\cZ_X8VcVd\SjZXV_^VU fUXR_Xdaf_\eWcR>@3AcZTV =V[cXcfaaV_YRcYRWeecRg]e^VURedeÞeeV UV__jVdeRSRW`W TVcVcDE52?4@?Z_UV Z4R^a3RdeZ`_YgZ]\VeYRcSVejUVeV_UV]


D742>AXV__V^WÞcVcARce_VccZ_X

_jZ_UcVeeV]dVcRW\`_e`cVc`acjU_Z_X `aeÌ]]Z_X RW^ReVcZV]d`^\R_dV_UVdY[V^`XYRcgÌcVe TR"fXVZ=RdY\Rc8RYW`cVedeÞeeVE7(D@7 ^VUV_\`_decf\eZ`_d`aXRgVDË_fYRce` ^R_UWcR]V[cXcfaaV_ZYgVceeZ]WR]UacÞgVeRe gÌcV4`^SRe4`_decfTeZ`_6_XZ_VVcd^VU deÞeeVRWD@7d`]UReVcd`^dZ\cZ_XdW`]\f_UVc UVcVdRcSV[UVfUV_W`cY`gVU]V[cV_ =V[cXcfaaV_ScfXVc`XdËV_UV]eZUaËRedeÞeeV UVTR&!^R_UUVceZ]URX]ZXXËc`XfUUR__Vc 2?2`gcVZE`^Sde`_V

EZ]dZUde^V_Z\\V^Z_UdedËS]VgUVe`XdË eZUeZ]RedZXVWRcgV]eZ]g`cVd\ÌcV73> (" 5VeVc_fYV]e`W TZV]eSVd]feeVeReUV_d\R] Y[V^eRXVd7cV^RUcVeeVed\R]UVScZeZd\V >83R_gV_UVd9gZd3cZeVc_VYRcScfXW`c RcSV[Ud\cRWeeZ]SjX_Z_XRWV_>83d`^Vc ZUV_eZd\^VUg`cVd73> ("dË\R_:856E X`UedeÞeeVdËWcV^egZ\R_RWXZgVd`XS]ZgVc acZ`cZeVcVeeZ]V_dËUR_`aXRgVDË^R_\R_ X`UedZXVRegZdeRUZXgÌ\\R_SjXXVSc`UVe S]ZgVcSRcVV_3cZeZd\>83

4`^SRe4`_decfTeZ`_6_XZ_VVcd




,QGWU\NIUD







ERd\7`cTV(VcaËa]RUd ERd\7`cTV(aZ`_VcVcWcR <`_decf\eZ`_d\`^aRX_ZVed`XeV]VXcR deVc WcR#4`^^f_ZTReZ`_:_W`c^ReZ`_DjdeV^ SReR][`_Z_UgZVUVUV_""WVScfRcUV__jV UR_d\V]V[cZ=RdY\Rc8RY 9ÌcV_deÞeeVeRWDÞgÌc_VeVc_Ve`agVU ReZgÌc\dÌeeVV__j`aXRgVW`c7`cdgRcVeZ 2WXYR_ZdeR_;ÌXVc\`cadVe`X7cÞ^R_Ud\`cadVe d\R]deÞeeVVeRWXYR_d\Ac`gZ_TZR]CVda`_dV 4`^aR_j^VUdÌc]ZXVa`]ZeZR\eZ`_VcYg`c `aXRgV_W`cERd\7`cTV(acZ^Ìced\R]dVdZ ^V_e`cc`]]V_ :UV_W`cSZ_UV]dVS]VgUV__jVUR_d\V]V[cZ >RZ_@aVcReZ_X3RdV=RdY\Rc8RYZ_UgZVe ?Rg_VeWR]Ue€_Refc]ZXe€aË4R^a2_UVcd =RddV_2_UVcd=RddV_Vc\V_UeW`cdZe V_XRXV^V_egVUUVScZeZd\VdaVTZR]V_YVUVc f_UVc#GVcUV_d\cZX`XVcbfRUVeeVVe W`cSZ]]VUV€eZ]]R_Ud`XeZ]gR_Ud€W`cSVXXV \`cad

:_UgZV]dV_RW]V[cV_:SZ]]VUVeVc`SVcde]Þ[e_R_e4]Rfd`X \RaeR[_;VaaVVWeVc_Rg_V_VVccVUR\eZ`_V_SV\V_Ue

=V[cV_dd\Z]egVUY`gVUZ_UXR_XV_fUWÌcUZXVeRWdVcXV_e ;V_dV_WcR<`_decf\eZ`_d\`^aRX_ZVe

4R^a2_UVcd=RddV_S]VgZ_UgZVeUV_ ""WVScfRcRWTYVWV_W`cERd\7`cTV( `SVcde]Þ[e_R_e4]RfdUVceZ]]ZXVVcTYVWW`c ;ÌXVc\`cadVeEZ]deVUVgRcS]RTYVWV_W`c <`_decf\eZ`_d\`^aRX_ZVe\RaeR[_;VaaV WcR:_XV_ZÞccVXZ^V_eVeUVc^VUdZ_V_YVU YRcSjXXVe]V[cV_`X`gVcdVcXV_e2_UVcdV_ WcREV]VXcRWcVXZ^V_eVeUVc^VUdZeeVR^ YRc~d\RSeW`cSZ_UV]dV~eZ]5R_^Rc\dË \`^^f_Z\ReZ`_V_aËUZgVcdV_Ve_fVc^f]ZX 5VegRcV_de`]e`XeR\_V^^V]ZXTYVWW`cERd\ 7`cTV(UVc^`Ue`X]V[cV_WcR~SjXXVY`]UVe~ @SVcde]Þ[e_R_eV_fUecj\eVZW`c]Ì_XV]dV RWZ_UgZV]dV_ReYR_gRcde`]eRWRegÌcV `W TVcZ9ÌcV__ËcYR_dËaËUV_^ËUV



~SjXXVY`]UVe~XZ\eZ]`aXRgV_aËYg`c`cU d`^de`cac`WVddZ`_R]Zd^VV_XRXV^V_e`X V\dZSZ]ZeVe\V_UVeVX_VUV`aXRgV]Þd_Z_XV_ 9R_gRceR\_V^^V]ZXW`cUZWRTZ]ZeVeVc_VZ]V[cV_ `gVcXËcYgRUUVcgRcW`cgV_eVe`XZYÞ[XcRU d\RSVc^f]ZXYVUW`cReERd\7`cTV(\R_]ÞdV dZ_`aXRgV`gVcUV_ÌdeVËc ERd\7`cTV(dVcWcV^eZ]`XVc\]RceZ]Re `gVceRXV`aXRgV_^VUUVeRWXYR_d\V Ac`gZ_TZR]CVda`_dV4`^aR_jWcRScZeVc_V dV_VcVaË^Ë_VUV_

3jXXVY`]UVedaZ`_VcVc`XeV]VXcR deVc


Jydsk Emblem Fabrik A/S - Leverandør til Forsvaret Ordensbånd · medaljer · sild · stofmærker og andet uniformstilbehør. Køb online på www.jef.dk www.reitz-medaljer.dk

Vi har 125 års erfaring og hjælper gerne med design og rentegning.

Jydsk Emblem Fabrik A/S · Sofienlystvej 9 · 8340 Malling · +45 7027 4111 · www.jef.dk

<7F> 7ËWÌ]]Vdd\RSVeeZ]SRXVaË<7F>dD`]UReVcY[V^Yg`cUf\R_^ÞUVd^VU R_UcVUVcYRcgÌcVefUdV_UeZZ_eVc_ReZ`_R]V^ZddZ`_Vc9Vc\R_UfUV]V `a]VgV]dVc`XeR_\VcWcRgVcUV_dScÌ_Uaf_\eVc€V]]VcSRcVeR_\V`a^VU^RU \RWWVYjXXV`XR\eZgZeVeVc

5V_dZUdeVe`cdURXZYgVc^Ë_VU\]")!!€##!!Y`]UVc gZ~9[V^^VZXV_~W`cUZXUVcYRcgÌcVefUdV_Ue 


ERd\7`cTV( @aXRgV_Z2WXYR_ZdeR_YRcd`^UV VdeV dZ\\VcegVUeRXVeV__jUcV[_Z_X5R_^Rc\ YRcZ\\V]Ì_XVcVdZeVXVeR_dgRcd`^cËUV^V_ YRcSVgÌXVedZX^VcV`gVcZV_^V_e`cRddZde dfaa`ce`XecRZ_c`]]V :RacZ]#!""SVd]feeVUVUV_URgÌcV_UVcVXVcZ_X RefUdV_UVVeDaVTZR]@aVcReZ`_d7`cTVD@7 SZUcRXeZ]2WXYR_ZdeR_5VeS]VgSVd]feeVeRe SZUcRXVed\f]]VgÌcV[`Z_e^V_]VUVeRWYÌcV_ Yg`cW`cSZUcRXVeZ_UVY`]UVcd`]UReVcWcRdËgV] 7cÞ^R_Ud\`cadVed`^;ÌXVc\`cadVe2 VUe YVcRW\`^ERd\7`cTV(E7(eZ]gVcUV_ @aXRgV_W`cE7(VcS]R_UeR_UVeRe^V_e`cVcV VeRWXYR_d\Ac`gV_eZ`_R]CVda`_dV4`^aR_j UVcVcdeReZ`_VcVeZ=RdY\Rc8RY^V_d`^ d\R]\f__VZ_UdÌeeVdZYV]V9V]^R_UAC49 <`^aRX_ZVed\R]fUUR__VdeZ]ReS]ZgVVe DaVTZR]HVRa`_2_UERTeZTdDH2E4`^aR_j `X`aXRgVa`ceVWÞ][V_VcS]RReUVd\R]gÌcV \f__VgZc\Vd`^BfZT\CVRTeZ`_7`cTVZYV]V ac`gZ_dV_YVcf_UVc\f__VXV__V^WÞcV9ZXY CZd\2ccVde^VU^VcV 5RX]ZXURXV_gVUAC49VcXR_d\VdÌc]ZX 5VcVcZ_XV_URXVUVcVcV_d<`^aRX_ZVe YRcdgÌcVfUW`cUcZ_XVcZWeZ_UZgZUVedSRdR]V SVY`gA`]ZeZ^Ì_UV_VYRcdgÌcegVUReWË fUSVeR]eUVcVdWf]UV]Þ_UVYRcYRWedgÌcegVU Re\`^^VaË]VRgVYgZ]\VeZgZddVeZ]WÌ]UVYRc SVejUVeReUVYRcgÌcVegÌ\WcRYfdecf`X SÞc_Zd^Ëe`Ëc7RTZ]ZeVeVc_VZUV_^ZU]VceZUZXV ]V[cUVYRcS`VeZZ&^Ë_VUVcZ^ÞUV\`^^Vc Z\\VVe^V__Vd\VdSVY`g5VcVcZ_XV_ e`Z]VeeVceV]eVVcWR]UVedR^^V_`X^RUV_ UVWËcfU]VgVcVe]RUVcZ\gR_eZeVe`X\gR]ZeVe _`XVeeZ]SRXVReÞ_d\V2]eZR]eVcUVe^VXVe

<`\\V_SVdaZdVc"#&^R_U`^URXV_3Z]]VUVeR_XZgVc UVWRTZ]ZeVeVcYR_YRgUVReXÞcV^VU



Df_V`XDZ^`_WcR]V[cXcfaaV_VeRS]VcVc_je~\Þ\\V_~eZ] \`\\V_

acZdgÌcUZXeReUV^ÞUVcaËRcSV[UV`^V_U V_\V]eVVc~def\\Ve~RW E7(a]ReW`c^W`cRefUUR__VAC49gRcUVcW`c cVV]eZ\\VeZ]deVUVURgZ \\`^^R_U`V_ #(WVScfRcFUW`cUcZ_XVc_VgRcdËde`cVRe _`XVe^ËeeVXÞcVdYgZdgZWcV^RUcVeeVed\f]]V YRgV^f]ZXYVUW`cRedeÞeeVfUgZ\]Z_XV_RW AC49GZXeZXdeRWR]egRcRegZ \dReXR_XZ VeRS]VcZ_XV_RWV_dY`ceeVc^SRdV6eac`[V\e UVcgRcXËVeZdeËaËXcf_URWRWXYR_d\ SfcVRf\cReZ6eRS]VcZ_XV_RWUV__VYRcU`XV_ $^Ë_VUVcdeZUdY`cZd`_edËUVegRcRWXÞcV_UV Re _UVV_Z_eVcZ^]Þd_Z_XW`cUV^VdeSRdR]V \cRg 5VedVc`XdËfUeZ]Reg`cVdRcSV[UVZW`cY`]U eZ]Rea`]ZeZ^Ì_UV_V\R_WËfUSVeR]e]Þ_ `XWËSVUcV^RUYRcSËcVeWcfXe=ZXV]VUVd VcUVWÞcdeVa`]ZeZW`]\dV_UeaË]VRgVGZ S]VgZ_`X]VURXVdeÞeeVeRW=V[cXcfaaV_ UVcaË\`ceeZUd\RSeVV_\Þ\\V_WRTZ]ZeVe `XV_fUUR__V]dVdWRTZ]ZeVedË\`\\V_ cVV]eYRc^f]ZXYVUW`cRe]RgVSVUcV^RU `Xa`]ZeZ^Ì_UV_V\R_dÞXVUÌ\\VWcR gV[c]ZXVe7`cfUdÌe_Z_XVc_VW`cUVeWcV^eZUZXV dR^RcSV[UVgfcUVcVdRegÌcVd\RSe FUUR__V]dVd_ZgVRfVeZ\`^aRX_ZVedgZ_XVc ^VXVe5VcVcecVDaVTZR]CVda`_dVEVR^ DCE5V]Z_XddeÞccV]dVZ\`^aRX_ZVe€ DT`caZ`_dEZXVcd`X:c`_ de€`XYgVceDCE VcaËdZe_ZgVRfDT`caZ`_dVcaeUVSVUde fUUR__VUV5VeVcUVeDCEUVcacZ^Ìce S]ZgVcScfXe_ËcUVcXV__V^WÞcVddeÞccV `aVcReZ`_VcE7(^V_e`cVcVc`XdËAC49 Y`gVU\gRceVcUVc^VcVV]]Vc^Z_UcVVcSjXXVe `ad`^V_\`_gV_eZ`_V]UR_d\^`e`cZdVcVe Z_WR_eVcZSReR][`_


3VWR]Z_XdfUXZgV]dVW`cfUW`cV_`aVcReZ`_gVUAC49

>Z_Wf_\eZ`_ZE7(VcaËaRaZcVe4`f_eVc :^ac`gZdVU6ia]`dZgV5VgZTV4:65`W TVc `XZ_decf\eÞcYg`cgÌXeV_ZWf_\eZ`_V_ dV]gWÞ]XV]ZX]ÌXXVdaË4:65`^cËUVe;VXd\R] UVcW`cR]eZU\f__VXZgVecfddV]dSZ]]VUVeaËVe R\efV]e`^cËUVZ9V]^R_Uac`gZ_dV_`X\V_UV _jVecV_UdZdR^^V5VcfU`gVcdeÞeeVc[VX VWeVccVe_Z_XddV\eZ`_V_ZRe _UV^f]ZXV^Ë] dR^edÞcXVcW`cRe4:65WÌcUZXYVUVc_VaË V_\V]e^R_UY`]UVdaËVed`]ZUe_ZgVRfdËdV]g TYVWV_W`cE7(eZ]]ZXVTYVWW`c;ÌXVc\`cadVe \R_SVe[V_V^Z_VdÞXVc> "!`XXV__V^WÞcV T`_ c^ReZ`_dUcZ]]d ;VX\R_Z\\VWËV_YV]RcSV[UdURXeZ]ReXË ^VUUVeR]V_VdË[VXYRcYÞdeVe]ZUeV\decR `aXRgVcE7(`XAC49YRc]ZXVdË^VXVe ScfXW`cZ_XV_ZÞcdeÞeeVd`^R_UcVV_YVUVc dË:_XV_ZÞc`W TVcdWf_\eZ`_V_]ZXXVc]ZXVeZ] YÞ[cVSV_Ve=ZXV_f\``cUZ_VcVc[VX^Vde^VU ERd\7`cTV9V]^R_U`X4`R]ZeZ`_7`cTV=RdY\Rc 8RY^V_URgZ[`d\R]gZc\VZYV]Vac`gZ_dV_ dËgZ][VXaËdZXe`XdËd\f]]V\``cUZ_VcV`X dÞXVdeÞeeVgVUUV`^\cZ_X]ZXXV_UVCVXZ`_R] 4`^^R_Ud

5RE7(VcV_D@7V_YVUYRcUV_ ~cV]ReZge~_V^egVUReWËeZ]XR_XRWdeÞeeV `^V_UUVcd\R]\Ì^aVdYgVcXR_X :_UV_W`cZ_XV_ZÞc`^cËUVeVcW`\fdaË ^`SZ]ZeVedWcV^^V_UVW`cR_deR]e_Z_XVc dR^eUV]VRW`aXRgVa`ceVWÞ][V_UVc]ZXXVc f_UVcR_UV_Z_XV_ZÞce[V_VdeV5VeVcZdÌc 3C:>DE@?66ia]`dZgV@cU_R_TV5Zda`dR] V_YVU`XYf_UV\RaRTZeVeV_gZVWeVcdaÞcXVc 9f_UV\RaRTZeVeV_Z9V]^R_UVcXR_d\Vd`]ZU 5VeVcdÌc]ZXeUV__V\RaRTZeVeE7(Þ_d\Vc URUV_XZgVcV_YÞ[XcRURWSVd\jeeV]dV`X dR^eZUZXeYRdeZXYVUZSVgÌXV]dV_WcV^^`U Ve^Ë]6_X]R_UYRcfUgZ\]Ve VcVW`cd\V]]ZXV ejaVcYf_UVUVcYgVcW`cdZXYRcdZ_VW`cTVc `XdgRXYVUVc^V_d`^XÞcRe^R_ZWeUV_ eR\eZd\V`aXRgV^R_deËc`gVcW`c\R_aVXVaË UV_ UVf_Z\\VVXV_d\RSVcYf_UV_d\R]YRgV aËUV_V_\V]eV`aXRgV ;VXYRc`XdËVcYgVcgVe^ZX]Vdd`_]VRc_VU Wf_\eZ`_V_;VXYRc\f__VeScfXV^Z_VcWRcZ_X WcR9ÌcV_d@aVcReZgV<`^^R_U`9@<Z W`cY`]UeZ]=Vdd`_d=VRc_VUac`TVddV_`X f_UVcdeÞeeVcbfRUVeeVE7(^VUZ\\VRe]RgV UVdR^^VWV[]d`^R_UcVeZU]ZXVcVYRcX[`ce 9VcfU`gVcdeÞeeVc[VXdeRSV_ZW`cSZ_UV]dV ^VUZ_W`c^ReZ`_d`aVcReZ`_Vc`XRWd]fe_Z_XdgZd Vc[VX`XdËS]VgVeacVddV`W TVc2]eZR]eV_ S]R_UVe]R_UYR_UV]^V_V_daÌ_UV_UVV_RW d]RXdV_ D`^Z_XV_ZÞcVcE7(V_X`U`cXR_ZdReZ`_ ReRcSV[UVZ5VeW`cgV_eVdRe^R_SjUVc Z_UYgZd^R_YRc`gVcd\fUZWeR]]VejaVc `aXRgVc;VXYRcgÌcVed\jeeVaËUVeef_XV ^Rd\Z_XVgÌcZW^V_W`cd\jU_Z_X`X[VX YRc\``cUZ_VcVeUZcV\eV^VU9@<dËgZWeV_ RW`aXRgVcdaÌ_UVcScVUe2eRcSV[UVZ V_V_YVUYg`c`cUd`^ac`WVddZ`_R]Zd^V V\dZSZ]ZeVe`XZ^ÞUV\`^^V_YVUXV__V^djcV V_YVUV_dgZc\VVcWR_eRdeZd\5VeReZ_UZgZUVe `XV_YVUV_R]eZUdÞXVcUV_RSd`]feSVUdeV ]Þd_Z_XZXZg_VcR^^VcVcW`cSZ]]VU]ZXe AZ`_Vc\RaeR[_=Rcd VWeVc_Rg_VeVccVUR\eZ`_V_SV\V_Ue

D\fUd^Ë]eZ] :_XV_ZÞccVXZ^V_eVe

4YVWV_W`cE7(XV__V^WÞcVcT`_ c^ReZ`_UcZ]]d

5Ve\R_[`_ÌdeV_R_d\fVdd`^SVdeZ]e RcSV[UV_Ëc^ZeZ_U]ÌX_fVc VeeVeZ_UZ UV_RWg`cVd4:65@7fUWÌcUZXVUV^V_ [VX\R_W`cdZ\cV]ÌdVc_VW`cRe[VXYRcYRWe UV_dR^]VUVRceZ\V]eZ]XV__V^dj_Z_UV_ WcV^dV_UV]dV




:W`cSZ_UV]dV^VU`adeZ]]Z_XRWE7(aËXZ\UVc V_deÞccVUZd\fddZ`_ZW`cY`]UeZ]`^€`XZXZgVe WR]UYg`c^R_XV4:65W`]\gZd\f]]V^VUScZ_XV 5Vede`U`dYfceZXe\]RceRed\f]]VgZeZ]WÞcVd V_VXV_e]ZX4:65\RaRTZeVedËS]VgeR]]VeZ

_ÌcYVUV_RW&'^R_U>VUVeZW`cgV[V_ decR^edejc\V]`WeS]VgUV_ZUVYfceZXeWV[VeRW SR_V_€`XgZ^ËeeVdË]VUVd~_Þ[Vd~^VUV_ 4:65`W TVcd`^dË]VUVd\f__VdeÞeeV^VU a]R_]ÌX_Z_X`X^V_e`cVcZ_X5V_WR\eZd\V `aXRgV]Þd_Z_XYRc]4:65@7 _eSVd\cVgVeZ UVe`gV_deËV_UV€`X[VXd\R]^VUUVedR^^V WRded]ËReUVcVceR]V`^V_ff_UgÌc]ZX \RaRTZeVe E7(YRc_fgÌcVefUVaËe``aXRgVcdR^^V_ ^VUAC49D`^UVe[`XV_VcV]eVceZ]WÌ]UVe YVcZ2WXYR_ZdeR_dËYRc:65ecfd]V_gVU SVXXV]V[]ZXYVUVcgÌcVecV]ReZgYÞ[5Ve WR\ef^R]V_VYRcdeZ]]Ve\cRgeZ]^VUScZ_XV]dV RWV_dVRcTY\RaRTZeVeYg`cW`cgZYRc^ËeeVe cV\gZcVcVUV__VgVUW`cVdeËV_UV:_UeZ] gZUVcVYRcUVeZ^ZU]VceZUZ\\VcVacÌdV_eVcVe Veac`S]V^€`Xdejc\V_YRcZdÌcUV]VdYVU gZdeUVcVdgÌcU:W`cSZ_UV]dV^VUV_XV_VcV] Y[V^eRXV]dVRWV_YVUVc\R_UVca`eV_eZV]e S]ZgVVedeÞccVecÌ\aË\RaRTZeVeV_YgZ]\Ve XZgVegZd\R_YÌ^^VgZddV`aVcReZ`_dejaVc E7(WÞcdeV`a]VgV]dV^VUaVcd`_V]WcR :_XV_ZÞccVXZ^V_eVegRcZ^ZU]VceZUUVe \`_decf\eZ`_dY`]UUVcgRcdV_UeYVc_VUW`c ReUV]eRXVZ`aSjX_Z_XV_RWg`cVd]V[c9gZd ^R_dVcS`ceWcRRe]V[cV_Vca]RdecVeeZ]^VU gÌ]eVUV6ÏcdËYRcY`]UVe]RgVeVeWR_eRdeZd\ dej\\VRcSV[UVEZUda]R_V_S]VgY`]UeeZ] ec`UdW`cRegZX[`cUVR]eW`cReXV_VcVcV_jV ac`[V\eVc;VXYRcd[Ì]UV_e`a]VgVedËVWWV\eZg Y[Ì]ad`^`XdV]gdeÌ_UZXV_V_YVU9ReeV_RW W`cUV^ 5V_V_YVUgZ^V_e`cVcS`cZ€`XRcSV[UVcfU WcRV_Z_eVcZ^SRdVZ_UeZ]UVcVd^ZU]VceZUZXV SRdVS]ZgVcSjXXVeWÌcUZX:_eVcZ^SRdV_]RUVc ^VXVeeZ]SRXVReÞ_d\V€`XURgRc^V_W`c R]g`cVcaËgV[dËgZ`d_ÞUdRXVeeZ]RedeÞeeV ^VU]ZUeZ_WcRdecf\efc52?4@?gRcYfceZXeZ]Re ^VUUV]VUVcVdY[Ì]aYg`cW`cUVYfceZXdV_UeV e`^R_UWcR]V[cXcfaaV__VUeZ]`d5ZddVgRc cV_Vecj]]V\f_de_VcV`XUV \d_RceVeRS]VcVe VefUV_UÞcd\Þ\\V_€`XVede`ce]ÌdV[]eZ]de`c SVXV[decZ_XW`cg`cVdRWXYR_d\V\`]]VXVcDe`c eR\d\R]]jUVeZ]UV^`XdË DR^^V_WReeV_UVYRcE7(WcR :_XV_ZÞccVXZ^V_eVeddZUV`a]VgVedËde`c dV]gdeÌ_UZXYVU`Xac`XcVddZgZeVeReUVe ]`gVcX`UeW`cUV_WcV^eZUZXVYgVcg_Z_XeZ] ;ÌXVc\`cadVe @SVcde]Þ[e_R_e4]Rfd VWeVc_Rg_VeVccVUR\eZ`_V_SV\V_Ue

4YVWV_W`cE7(`SVcde]Þ[e_R_e4]Rfd`X\RaeR[_=Rcd




5Ve_jV:8C€¾[VW`cWcV^eZUV_ 2W+:_XV_ZÞc6@5`XD62C49RWUV]Z_XV_

GVUdV_VdeVW`cdgRcdW`c]ZXVeRS]VcVUVd :_XV_ZÞccVXZ^V_eVe:8C^VUVe <`^aVeV_TVTV_eVcW`c:_XV_ZÞcdeÞeeV`X43C? dR^eecVSReR][`_Vc<`^aVeV_TVTV_eVcVe SVdeËcW`cfUV_V]V^V_eVcRWRU^Z_ZdecReZg `XUcZWed^ÌddZX\RcR\eVcRWe`DefUZV `XFUgZ\]Z_XdRWUV]Z_XVcW`cYV_Y`]UdgZd :_XV_ZÞce[V_VdeV`X43C?DefUZV`X FUgZ\]Z_XdRWUV]Z_XV_W`c:_XV_ZÞce[V_VdeV ZURX]ZXeR]V\R]UVe:_XV_ZÞcRWUV]Z_XV_ YRcdecf\efcV]eZR]e%$^VURcSV[UVcV`X SVdeËcRWVe4V_eVcW`c6@5D62C49V_ :_XV_ZÞceR\eZ\DefUZVfUgZ\]Z_XddV\eZ`_ V_EV\_Z\:_WcRdecf\efcdV\eZ`_dR^eV_ :_XV_ZÞc\`^aVeV_TVdV\eZ`_ 2cSV[UVeZdV\eZ`_Vc_VXZgVca]RUdW`c Z__`gReZ`_`X_jeÌ_\_Z_XdR^eVe^VXVe fUW`cUcV_UVgZc\Vd`^dRXdSVYR_U]VcZcV]ReZ`_ eZ]dËgV]YVc`X_fcVR\eZ`_VcaËYÌ_UV]dVc Zg`cVd^ZddZ`_Vcd`^^VcV]R_XdZXeVUV`X defUZV`cZV_eVcVUVac`[V\e`aXRgVc :UVeVWeVcWÞ]XV_UVXZgVdV_SVd\cZgV]dVRW UV_V_\V]eVdV\eZ`_dR^eYgZ]\Vac`[V\eVcUVc RcSV[UVd^VU

6ia]`dZgV@cU_R_TV5Zda`dR] DVRcTYTV_eVc€6@5D62C49 46?E6C :6@5DVRcTYRcSV[UVcgZd`^_Rg_Ve R_ejUVc^VU6@56\da]`dZgV@cU_R_TV 5Zda`dR]`XdVRcTY^V_`XdË4`f_eVc :^ac`gZdVU6ia]`dZgVd5VgZTVd4:65GZ YRcV_]R_XcÌ\\V`aXRgVcUVc\R_Z_UUV]Vd ZdefUZV fUgZ\]Z_X^ReVcZV]`XfUUR__V]dV G`cVd\`^aVeV_TV`^cËUVcVcR]eZ_UV_W`c 4>5<`_gV_eZ`_V]2^^f_ZeZ`_dcjU_Z_X :6552]]VW`c^VcW`c3`^SVcjU_Z_X 4:65>`UW`cY`]UdcVX]VcDVRcTYRWdÞX_Z_X `X>Z_VcjU_Z_XYVcf_UVc`XdËR_gV_UV]dV_RW Yf_UV DVRcTY :_UV_W`cUVdV_VdeVaRcËcYRcgZWËVe Z^a]V^V_eVcVedVRcTYd`^V_\RaRTZeVeZ9C? GZRcSV[UVc^VU_ZgVRfVc_VSRdZTaRecf][V Z_eVc^VUZReVRUgR_TVU`XdaVTZR]Zde 3RdZTVcW`cR]]VaRecf][VcW`c\R^aec`aaVc_V `X>Z]ZeÌca`]ZeZVeZ_eVc^VUZReVVcW`c :_XV_ZÞcXcfaaVc_V`X2UgR_TVU`XDaVTZR]Zde

DÞX_Z_XVWeVc\RS]Vc

VcW`c2UgR_TVUDVRcTYXcfaaVcUVeYÞ[VdeV _ZgVRf DZUdeVËc \gZdeRceVeZ_eVc^VUZReVdVRcTY fUUR__V]dV_`aYVcY[V^^V`XgZYRc`XdË WËVefUUR__VeV_UV]aËRUgR_TVU_ZgVRf Z_U]VU_Z_XdgZde^VUY[Ì]aWcRF<GZVcZ d\cZgV_UVdef_UZWf]UXR_X^VUReWÌcUZXXÞcV WRXa]R_`XcVX]V^V_eRcZd\Xcf_U]RXW`c RUgR_TVUdVRcTY`XgZgZ]WÞ]XVVWeVc^VU`XdË daVTZR]ZdedVRcTYdËgZdV]gdeÌ_UZXe\R_deËW`c R]fUUR__V]dV_aËUVeeV`^cËUV :W`cSZ_UV]dV^VUdVRcTYRcSV[UVcgZaË ReWË_`X]V_jVdVRcTYWRTZ]ZeVeVcVeRS]VcVe `^\cZ_Xg`cVdUVa`e7]j5Ve\`^^V_UV FUUR__V]dVdTV_eVc7]jgZ]dZ\cVSVUde^f]ZXV gZ]\ËcW`cg`cVdecÌ_Z_X 6@5 AË6@5dZUV_RcSV[UVcgZZÞ[VS]Z\\VeZYÞ[XcRU ^VUVeec`aaVW`cdÞXYg`cgZYRcV_6@5D6< WcR&6@5<>AfUdV_UeeZ]2WXYR_ZdeR_5VcVd acZ^ÌcV`aXRgVVcRecjUUV:65Z9V]^R_UGZ WÞ]XVc_Þ[VfUgZ\]Z_XV_`XeZ]SRXV^V]UZ_XVc_V W`cRe\f__V`aeZ^VcVXcf_U]RXVe FUUR__V]dV 5VcVcR]eZUde`ceecÌ\aËdV\eZ`_V_Z W`cSZ_UV]dV^VUXV__V^WÞcV]dV_RW\fcdVc`X R_UV_fUUR__V]dVZ9ÌcV_5V]dg`cVdVX_V ^V_`XdËd`^XÌdeVZ_decf\eÞcVcgVUV\deVc_V \fcdVc G`cVdVX_V\fcdVcVc:8C%%"4:65W`c deRSd`W TVcVc:8C%%!4:65:?DE:8C %$!3RdZTdVRcTY:?DEdR^e:8C%#!:655`X :8C%""4>5G`cVd\fcdVcVcXcf_U]RXVeW`c




UV__ReZ`_R]VR^^f_ZeZ`_dcjU_Z_Xde[V_VdeV ~Cf]]V^RcZV~dËgV]d`^W`c R^^f_ZeZ`_dcjU_Z_XV_ZUVZ_eVc_ReZ`_R]V ^ZddZ`_VcAËR]]V\fcdVcR_gV_UVcgZeZU]ZXVcV V]VgVcd`^V\deVc_VY[Ì]aVZ_decf\eÞcVcW`cRe \f__VRWgZ\]V\fcdVc_VSVUde^f]ZXe

eV\_`]`XZ`XdËUR_gZ]UVedR_Udj_]ZXegÌcVZ WcV^eZUV_EV\_`]`XZfUgZ\]Z_XV_XËcdeÌc\e 5VeSVejUVcRe_jR_d\RWWVe^ReVcZV]gVU _ÌdeV\ÞSW`cgV_eV]ZXeVcdeReeVd^VUV_YV]e R_UV_eV\_`]`XZ`X^VUdZUdeV_jVVcWRcZ_X Z_USjXXVe

FU`gVc\fcdVcVcgZ`XdË`WeVfUV `XdeÞeeVV_YVUVcUVcd\R]Z^ZddZ`_ ^VUXV__V^WÞcV]dVRWYR_U]VSR_Vc`X \`_ec`]gZc\d`^YVU

5VegZXeZXdeVVcRegZWÞ]XVc^VU`XW`cdeËcRe dR^RcSV[UV^VUac`UfTV_eVc_V5Vd\R]\V_UV g`cVdSVY`g`XgZ]dËfUgZ\]VZUV_cVe_Z_X d`^`aXRgVc_V\cÌgVcUVe<f_dËUR_`a_Ëc gZgZUV_`XgZ_UVc\R^aV_^`US`^SVeVcc`c >ReVcZV]eZ]UV_jVfUUR__V]dVcZ_UV_W`c6@5 `XDVRcTYXËcaË^VcVdeRSZ]e^ReVcZV]`X V_YÞ[_V]dVRWdZ\\VcYVUV_W`caVcd`_V]]Ve 9VceÌ_\VdaËReYg`c^R_WÞcYV_d\f]]V YRgVdZeÞ[VYV]eYV_WV\deZ]VeV_U`d\`a [RdËVcfUgZ\]Z_XV__fRe^R_dV]g^VU SVd\jeeV]dVdUcRXe`XY[V]^gZdÏc\R_dV XV__V^dËUR__VZ_decf^V_eVc;R_`X]VVc V_UURZ_UcVeeVe^VUV_]Z]]Vd\Ìc^dË^R_ \R_dV]VgV_UVSZ]]VUVcd`^`XdË\R_S]ZgV `aeRXVeaËSË_UV]]VcdV_UeUZcV\eVeZ]SRXVeZ] V_`aVcReÞcUVcgV_eVcaËRe\`^^VWcV^eZ]

>ReVcZV] :Þ[VS]Z\\VeYRcgZVede`ceV_XRXV^V_eZ 2WXYR_ZdeR_>ReVcZV]^ÌddZXeSVd\ÌWeZXVcgZ `dacZ^Ìce^VURWdÞX_Z_Xd`X6@5^ReVcZV] 5VcYRc]ZXXVe`X]ZXXVcdeRUZXVede`ceRcSV[UV Z\`_deR_eReWË`aUReVcVe_fgÌcV_UV^ReVcZV] `XdR^eZUZXedVaË_jV^f]ZXYVUVc EZUVc_Vd\ZWeVcW`cËceZ]SRXVgRc6@5 gVcUV_V_fUdejcVe^VU^V\R_Zd\Vc`S`eeVc DË\`^V_S]R_UZ_XRW^V\R_Z\`XYjUcRf]Z\ `XZURXVcR]eUVeeVfUdejcdejcVegZR:E

<]RceZ]YV]Z\`aeVcZ_UdÌeeV]dV

:_UdÌeeV]dVRW^Z_Zc`S`e



DV_VdeV_jVeV\_`]`XZfUgZ\]Z_XZ_UV_W`cc`S`eeVc


5jSSÞ]")'%dVeWcRejd\dZUV2]]VcVUVZSVXj_UV]dV_RW")'!|Vc_VgZUdeV^R_WcRUR_d\dZUVReejd\Vc_VYRgUV fUgZ\]Ve\R_`_Vc^VUcZWWV]XR_XV5VeSVeÞU]Ì_XVcVcÌ\\VgZUUV`XdeÞccVXV__V^ScjU_Z_XdVg_V^`UUVUR_d\V W`cd\R_d_Z_XVc5VeeVfU_jeeVUVejd\Vc_VgVURe]RUVUVejd\VZ_XV_ZÞcVcXcRgVdZXWcV^^`UUVUR_d\VdeZ]]Z_XVc ZdjUkZXkRXXR_XV`XaRcR]]V]]Vc_VUVcdeeZ]gV_decVZSZ]]VUVe9Vc\f__VUVejd\V\R_`_Vc_Ë`XYRgUVdeÞcde VWWV\e6e]Z]]VV\dV^aV]aËYg`cUR_gZUV_`XVcWRcZ_XVc\R_R_gV_UVdeZ]Re]RgVV_X`UeR\eZ\

`aXRgV_:XV_V_fUgZ\]Z_XUVcScZ_XVcSËUV ]Þd_Z_XRW`aXRgV_Z_W`c^ReZ`_dZ_UdR^]Z_X `XdZ\\VcYVUV_W`caVcd`_V]]VeZe`a5VeeV `XUV_dR^]VUVfUUR__V]dVXÞcRe[`SSVe Z6@5`XDVRcTYgVcUV_V_Vc^`eZgVcV_UV `Xe`aac`WVddZ`_V]edËgV]^ReVcZV]d`^ aVcd`_V]^ÌddZXe

:_XV_ZÞceR\eZ\defUZVfUgZ\]Z_Xd dV\eZ`_V_:8E2<DEFG ER\eZ\dV\eZ`_V_SVd\ÌWeZXVcdZX Xcf_U]ÌXXV_UV^VUdaÞcXd^Ë]Ve~9g`cUR_ XÞcgZUVeSVUde0~3cfXV_RW`cUVe~ER\eZ\~ \V_UVcgZWcR^R_XVdeVUVcZg`cVdURX]ZXV dac`X3]R_UeR_UVeWcRda`ceV_dgVcUV_Yg`c ^R_`WeVeR]Vc`^YgZ]\V_eR\eZ\ecÌ_VcV_ _fgZ]R_gV_UVW`cRegZ_UV\R^aV_:UV__V W`cdeËV]dVRWeR\eZ\YR_U]VcUVeUVcW`c]ZUe a`af]Ìce`^Re]RgVV_d]RXa]R_GZScfXVc UVe`XdË_ËcgZV\dV^aV]gZdd\R]fURe\ÞSV V_T`^afeVcV]]VcV_SZ]GZeÌ_\Vc`gVcYg`c ^VXVegZgZ]XZgVW`cUV_`XgZeÌ_\Vc`gVc Yg`cUR_gZ\R_\ÞSVUV_SZ]]ZXde^f]ZXe2]edË V_d]RXd~d]RXa]R_~V]]VceR\eZ\W`cYR_UV]V_ dËUV_WR]UVcSVUde^f]ZXefUeZ]VXV_W`cUV] 5VeeV`^WReeVcZUVe^Z]ZeÌcVdac`XWÞcZ_X

7ÞcZ_XVcV_YV]eRWXÞcV_UVUZdTZa]Z_Re \f__VW`cXcfaaVWÞcVcVUV]Z_XdWÞcVcV \`^aRX_ZTYVWVc^ W`cRe\f__VgZ_UV \R^aV_:d`]UReV_dScR_TYVVcV_#a]RUd Z\\VVWeVcecRXeVe<R^aV_V]]VcYR_UV]V_ `^^R_gZ]d\R]WR]UVfUeZ]g`cVdW`cUV]5Ve SVejUVcR]edËReZ_XV_ZÞcWÞcVcV_d\R]\f__V ]ÌXXV`XfUWÞcVUV_SVUdeV~d]RXa]R_~ZYgVce WR]USVUcVV_Ug`cVd^`UdeR_UVc_ËcgZgZ] gZ_UV DaÞcXd^Ë]VeVcdËYgRUUVcdÌeeVc`dZdeR_U eZ]UVeeV_ËcgZeR]VceR\eZ\0=ZUeW`cV_\]Ve \R_^R_dZXVReUVeXÞce`eZ_X+6cWRcZ_XVc `XÞgV]dV5V_UVc]RgVcUVeSVUdeV\ÞSRW V_T`^afeVcVcUV_UVcYRcX[`ceUVe^R_XV XR_XVWÞc`XUVcgVUYRcWËVeV]]VcaËR_UV_ gZdYRcd\RWWVedZXde`cgZUV_`^UVeeV9gZd ^R_Z\\VYRcdRedZXZ_UZYR_UV]V_dËVcUVc de`cdR_Udj_]ZXYVUW`cRe^R_Z\\VS]ZgVc gZ_UVcV_5Ve\R_V\dV^aV]gZdgÌcV+YgRU acZdVc_VVcZW`cY`]UeZ]UVe^R_\R_WËV]]Vc Re^R_Z\\VgVUYg`cUR_^R_V\dV^aV]gZd acfeeVc`^acZdV_`dg6cWRcZ_XVcVcUVcW`cVe _ÞX]V`cU DZUV_eZUVc_Vd^`cXV_YRcUVcgÌcVefWcVU 9gVcRWUZddV\R^aVV]]Vc\cZXVYRcSZUcRXVe




^VU_jVVcWRcZ_XVc6cWRcZ_XVcd`^gZ]ÌcVcRW W`cRef_UXËReXV_eRXVUV^YgZ]\Ved`^_Ìg_e Z\\VVcReVWeVcdecÌSV2]]VUZddVVcWRcZ_XVcVc UVcW`cXV__V^eZUV_S]VgVeR_R]jdVcVegfcUVcVe gV[Ve`X^Ë]e@XYgZdUVVcWf_UVeX`UV_`\ VcUVS]VgVeWÞceZ~D`]UReV_d8cÞ_daÌeeVS`X~ W`cReR_UcV\R_]ÌcVRWUV^`X]ÌXXVUV_ cZXeZXVd]RXa]R_3`XV_VcZ\\VÏ_S`X^V_ ^R_XVW`cd\V]]ZXVfUXZgV]dVcUVcYgVcaËdZeWV]e SVd\cZgVcUVSVUdeVVcWRcZ_XVc ER\eZ\dV\eZ`_V_dY`gVU`aXRgVVcReY`]UVUZddV VcWRcZ_XVc`aUReVcVUVW`cZ_XV_ZÞcSReR][`_Vc Z_XV_ZÞc\`^aRX_ZVc^ dR^eZ\\V^Z_UdeW`c Z_XV_ZÞcWÞcVc_VdgZc\V 5VdV_VdeVËcdUR_d\VZ_UdÌeeV]dVc^VU Z_XV_ZÞcSZUcRXfUVZgVcUV_YRceZ]WÞ[Ve^R_XV _jVVcWRcZ_XVc2]]VUZddVd\R]gfcUVcVd`XY`]UVd `a^`UeZU]ZXVcVeZUVcdVcWRcZ_XVcW`cRedV`^ g`cVZ_XV_ZÞcWÞcVcV`Xg`cVZ_XV_ZÞcV_YVUVc d\R]XÞcVeZ_XV_V]ZUeR_UVc]VUVdW`cRegÌcVUV SVUdeV5VcVcUVcW`cYV]VeZUV__jV\RaZe]Vc UVcd\R]d\cZgVdV]]VcXR^]V\RaZe]Vcd`^d\R] `aUReVcVd@XR]UV__V_jVgZUV_d\R]Z_U]ÌcVd RWZ_XV_ZÞcWÞcVc_VdËUV\R_ScfXVUV__jVdeV gZUV_eZ]Re]RgVUV_SVUdeVa]R_`XgZ_UV AËSRXXcf_URW`gV_deËV_UVYRcgZZdV\eZ`_V_ UVcW`cScfXW`ceÌ_\VcVUVcVcX`UVeZ]Re R_R]jdVcV`Xd`^\R_d\V]_VgÌdV_e]ZXeWcR fgÌdV_e]ZXeZSVdecÌSV]dVc_VaËRefUgZ\]V UV\]RcVde^f]ZXVcVe_Z_Xd]Z_[VcW`cRegZ_UV \R^aV_

:R]eYRcgZ\fcdVcd`^UÌ\\VcTR$#! \fcdfdURXVacËcZUVe VcVRW\fcdVc_V XV__V^WÞcVddZUV]ÞSV_UV2WjUVc]ZXVcV \fcdVc\R__Ìg_VdUZgdacÌ_X_Z_Xd\fcdVc \fcdVcW`c:D27XcfaaVWÞcVcV?< 56= \fcdVc\fcdVcW`c\RUVeeVc`W TVcVcf_UVc fUUR__V]dV`XZ_decf\eÞc\fcdVcZScR_U cVU_Z_X`X^Z][ÞYgZ]\VeR_gV_UVdf_UVc 93FfUUR__V]dVc_V @gVc`cU_VeVc\fcdVc_VSjXXVe`adËUVc SjXXVd`gV_aËUVeW`cVXËV_UV\fcdfd 5VW`cd\V]]ZXV\fcdVcYV_gV_UVcdZXeZ] W`cd\V]]ZXV_ZgVRfVc XcRUVc :8C$!"+GËSV_\fcdfdW`c`W TVcVc AcV^ZVc]Þ[e_R_eVc UV]Z_XdWÞcVcV :8C#!%+?Ìde\`^^R_UVcV_UVUV]Z_X ?< 56=\fcdfd dVcXV_eVc `gVcdVcXV_eVc :8C#!"+8cfaaVWÞcVc:D27 dVcXV_eVc `gVcdVcXV_eVc :8C#!!+:_XV_ZÞcdVcXV_e dVcXV_eVc `gVcdVcXV_eVc :8C"*"+<`ca`cR]\fcdfdW`cZ_XV_ZÞcVc <`_deRS]VceZ] `gVc\`_deRS]VcRW"XcRU

:_XV_ZÞc\`^aVeV_TVdV\eZ`_V_€ :8<@>A :8<@>AVcV_fUUR__V]dVddV\eZ`_DV\eZ`_V_ W`cVdeËcRU^Z_ZdecReZ`_V_`^\cZ_X\fcdVc_V dR^eXV__V^WÞcV]dV_RW VcVRWUVW`cd\V]]ZXV \fcdVcd`^fUSjUVdgZR:8C|dY[V^^VdZUVaË Z_ecR_VeeVe G`cVde`deÞcdeV~a`deVc~ZUV_W`cSZ_UV]dVVc e[V_VdeVXcV_d^`Uf]VeW`cdVcXV_eVcYgZ]\Ve ~`^d\`]Vc~_jVdVcXV_eVcWcRDÞ_UVcS`cXeZ] Z_XV_ZÞcdVcXV_eVcdR^egËSV_\fcdfd"d`^ W`cVdeËc~`^d\`]Z_XV_~eZ]Z_XV_ZÞc`W TVcW`c _jeZ]XËVUV`W TVcVcWcR9ÌcV_d@W TVcdd\`]VZ <ÞSV_YRg_ D`^fUXR_Xdaf_\ecVeeVcUV VdeVRW\fcdVc_V dZX^`USVWR]Z_Xd^Ì_UAËUV_^ËUV\R_UV_ gZUV_d`^V]VgVc_VWËcW`ca]R_eVdZXgZUVcVfUZ `cXR_ZdReZ`_V_6eV_\V]e\fcdfdVcU`X^Þ_eVe aË<D @<DZUVegZYgVceËcXV__V^WÞcVcVe \fcdfdW`cZ_XV_ZÞc\`ca`cR]Vc FU`gVc`gV__Ìg_eV\fcdVcdËXV__V^WÞcVc dV\eZ`_V_`XdËR_UcV\fcdVc`XR\eZgZeVeVc



9gZd^R_d`^`W TVc`XSVWR]Z_Xd^R_U YRcX`UVVg_Vcd`^Z_decf\eÞc^VU aÌURX`XZd\]jde`X^`UaËReeRXVWReVc :8<@>AVeX`UedeVUReW`ccVeeVe[V_VdeV 5VcVcV_de`cSVcÞcZ_Xd RUV^VUSËUV aVcd`_V]`XZ_XV_ZÞcUZdTZa]Z_Vc_V`X ^R_WËcX`UScfXRWdZ_VaVcd`_]ZXV \`^aVeV_TVc^VU^f]ZXYVUW`cRefUgZ\]V UZddVjUVc]ZXVcVdR^efUgZ\]V_jV +>VcVUVeR][VcVeZ_W`c^ReZ`_\R_ _UVdaË Z_ecR_VeeVef_UVc:8C|dY[V^^VdZUV<`_eR\eVge UZe\`^^R_U`\`_e`cdËWcV^eUfZ\\VYRcRUXR_XeZ] Z_ecR_VeeVe7::?


EV\_Z\Z_WcRdecf\efcdV\eZ`_V_€ :8E6< DV\eZ`_V_d`^ZURX]ZXeR]V\R]UVdeV\_Zd\dV\eZ`_ V]]VcS]`eE6<D6<SVd\ÌWeZXVcdZX^VU) Y`gVU`^cËUVc+ :_XV_ZÞc\ÞcVeÞ[Vc 6_ecVacV_Þc^Rd\Z_Vc 7V]eSc`Vc =V[c\`_decf\eZ`_Vc 7V]eSVWÌde_Z_Xde[V_VdeV =R_U^Z_Ve[V_VdeV DacÌ_X_Z_Xde[V_VdeV :_XV_ZÞcgÌc\eÞ[ D`^UVedVdVcUVede`cV`XScVUeWRg_V_UV Y`gVU`^cËUVcYg`cUVcZ\\VR]V_Vd\R]d\cZgVd cVX]V^V_eVc`XfUUR__V]dVd\cRg^V_Yg`cUVc `XdËd\R]aVXVdaË_jea`eV_eZV]e^ReVcZV] EZ]Re]ÞdV`aXRgV_YRcdV\eZ`_V_d^VURcSV[UVcV R]]VV_]R_XgRcZXSRXXcf_UZ_UV_W`c :_XV_ZÞcec`aaVc_V`X^ReVcZV]`^cËUVe`X VcV YRcTZgZ]VfUUR__V]dVcd`^ScR_UZ_daV\eÞc SjX_Z_XdZ_XV_ZÞcTZgZ]Z_XV_ZÞcV]]Vc eV\_Zd\UVdZX_Vc :_XV_ZÞc\ÞcVeÞ[Vc`^WReeVcR]]VUV daVTZR]\ÞcVeÞ[Vcd`^gZR_gV_UVcgVU Z_XV_ZÞcec`aaVc_V

5VeVcWV\daR_dcVe^Z_VcjU_Z_Xd\ÞcVeÞ[ A?>:C<aR_dcVeSc`g`X_3:36C=6@" ^Z_Va]V[]`XeZ]SVYÞcYVceZ]YVcf_UVc ^Z_Vcf]]Vc 6_ecVacV_Þc^Rd\Z_Vc_VVc`WeVTZgZ]V ^Rd\Z_VcZV_~^Z]ZeÌcW`c\]ÌU_Z_X~ FU`gVcWRcgV_dË\R_UVegÌcVdÌc]ZXV \cRgWV\deZ]dÌc]ZXX`U\Þ]Z_XRW ^`e`c`XWÞcVc\RSZ_VGVUWcV^eZUZXV _jR_d\RWWV]dVcgZ]UVcW`c^R_XV^Rd\Z_Vc `XdËgÌcV\cRgeZ]ReWÞcVc\RSZ_V_eZ] ^Rd\Z_VcZ^ZddZ`_VcaR_dcVe`XUVd\R] \f__V\ÞcVYfceZXVcVaËgV[ 7V]eSc`VcVcVede`ceY`gVU`^cËUV Yg`cS]RWV]eSc`> ("WV]eSc`5:A`X \`]`__VgV[VdR^eWRd\Z_VcYÞcVc5Vc SVYR_U]Vd`XdËR_UVe^ReVcZV]d`^ aVcd`_V]Sc`Vc`X\R^adeZXVcZ_UV_W`c UVeeVWRX`^cËUV =V[c\`_decf\eZ`_Vc`^WReeVccVV]eR]]V ejaVcRWSjX_Z_XVc`X\`_decf\eZ`_Vc d`^Vc_ÞUgV_UZXVW`c`aY`]UZ`XUcZWe RWV_^Z]ZeÌc]V[c5VeXÌ]UVc`XdËeV]eVRW R]]VejaVcdR^eXV_VcRe`cVc`XfUdejceZ] UcZ\\VgR_Ud`X\]`R\gR_UdcV_d_Z_X GZVcZUV_W`cSZ_UV]dVSVXj_UeRedVaË ^VcVXcÞ__V]Þd_Z_XVcd`^\R_daRcV`d




W`cde`cVfUXZWeVcWV\dgVURecVUfTVcVUV_ de`cV^Ì_XUVUZVdV]UVcZURXScfXVdeZ]UcZWe RWXV_VcRe`cVcDË\R_^R_eZ]^VUSVXcÌ_dV ScÌ_Ude`WecR_da`ceV_aË]R_UVgV[`XUVcgVU f_UXËWV\dUVWcjXeVUVgV[dZUVS`^SVc F_UVc`^cËUVe]ZXXVc`XdËZ_daV\eZ`_RW]V[cVZ cV]ReZ`_eZ]ScR_UdZ\\VcYVU 7V]eSVWÌde_Z_Xde[V_VdeVYRcXV__V^^R_XV ËcgÌcVeV_dSVejUV_UV^VU\R^adeZ]]Z_XVc ^V_UZdTZa]Z_V_UcV[VcdZX`XdË_f`^Sf_\Vc `XSVd\jeeV]dVdR_]ÌXfUWÞceWV\dZ96D4@ >R_XVR_]ÌXVcS]VgVeSjXXVe`XfUdReW`c dacÌ_X_Z_XdW`cdÞXUVcYRcXZgVegZXeZXgZUV_ `XVcWRcZ_XFUdV_UeVUR_d\Vd`]UReVc\R_ UVcW`cWÞ]XVdZXcZXeZXecjXXVZUVR_]ÌXd`^ 5R_^Rc\YRcSjXXVeZ:?E@AD,de`cedVeZ_XV_ \`_decf\eZ`_VcX`U\V_UefUV_ReUVdZX_VeVc eVdeVegVUV_V]]VcR_UV_W`c^W`cdacÌ_X_Z_X =R_U^Z_Ve[V_VdeVVcUVeRWg`cVd R_dgRcd`^cËUVcUVcZUVdV_VdeVËcYRc gÌcVe_VUacZ`cZeVcVe^Vde5R_^Rc\WÞ]XVc \`_gV_eZ`_Vc_VaË`^cËUVe`X]ZXV_fWÞ]XVc gZUVcW`caRddZgefUgZ\]Z_XV_UVcXËcZcVe_Z_X RWd^RceVgËSV_d`^UÌ\\VcVede`ce`^cËUV `Xd`^Z\\V_ÞUgV_UZXgZdYRcV_UÞUV]ZX gZc\_Z_X



DacÌ_X_Z_Xde[V_VdeVYRcfUgZ\]VedZXWcR de`cVUVWV_dZgVdacÌ_X_Z_XVcRWSc`Vc`X \`_decf\eZ`_VceZ]^Z_UcVdacÌ_X_Z_XVcRW gÌXXV`X^ReVcZV]^VUaVcd`_V]UVc`aY`]UVc dZX^VXVeeÌeaË5VeYRcXZgVede`cVeV\_Zd\V fUW`cUcZ_XVc`X^VUZ_UUcRXV]dVRW]ÌXV dRX\f_Ud\RSV_W`cRegZYRc\f__VefUXZgVUV SVUdeVcVe_Z_Xd]Z_[Vc :_XV_ZÞcgÌc\eÞ[`^YR_U]VcR]]VejaVcRW YË_UgÌc\eÞ[`XYË_UgÌc\VccVUd\RSVcgVU Z_XV_ZÞc`X\`_decf\eZ`_dXcfaaVc<`ce dRXeR]eUVeUVc _UVdZg`cVdXcfaaV`X UV]Z_XddÌe :_UV_W`cUV_Ìg_eV`^cËUVcVcdV\eZ`_V_ R_dgRc]ZXW`cReUVc _UVd`aUReVcVUVa`]ZTj `XejaVSVd\cZgV]dVcRWY`gVU^ReVcZV]`X W`cfUW`c\`_\cVeV^ReVcZV]R_d\RWWV]dVcd\R] E6<D6<dZ\cVReUVcVc`aUReVcVUVScfXVc\cRg UVdË\R]UeV3cfXVcDaVTZ \ReZ`_Vc3Dd`^ SVd\cZgVcScfXVc_Vd`aVcReZgV eV\_Zd\V\cRg 3DScfXVdd`^Xcf_U]RXW`c>ReVcZV]e[V_VdeV_d 7>ER_d\RWWV]dVcUVc`^WReeVcfUSfU eZ]SfUdZ_UYV_e_Z_X`X\`_ecR\ed\cZg_Z_X F_UVcR_d\RWWV]dVdac`TVddV_fUWÞcVc dV\eZ`_V_ZdR^RcSV[UV^VU7>E`XR_UcV cV]VgR_eVUV]VRWW`cdgRcVeRWacÞg_Z_XRW


^f]ZXV\R_UZUReVc5VeVc^R_XVXR_XV Ve`^WReeV_UVRcSV[UVd`^dV\eZ`_V_ Z\\V\R_]ÞdVR]V_V5VcW`cVcUVe^VXVe YV_dZXed^ÌddZXeReScfXV_UVV_YVUVcVc a]RTVcVeaË\RdVc_V_`XUVcW`ccV]ReZgeV_\V]e \R_jUVV_de`cY[Ì]aZW`cSZ_UV]dV^VU RWacÞg_Z_XV_ ?ËcgR]XVeVcecfWWVe`X]VgVcR_TVaËSVXj_UVd d\R]E6<D6<eZ]dZ\cVReUVcfUUR__VdUV WÞcdeVZ_decf\eÞcVc`X\ÞcVcVF_UVcgV[d d\R]UVcd\cZgVdSVe[V_Z_Xd^R_fR]Vc`X fUUR__V]dVdSVdeV^^V]dVc 6WeVcWÞ]XV_UV`gVcXËc^ReVcZV]]VeeZ] UcZWeYg`cVWeVcUVeVc@cXR_ZdReZ`_d`X =`XZdeZ\dV\eZ`_V_UVcgRcVeRXVc^ReVcZV]]Vd W`cedReeVUcZWeZdR^RcSV[UV^VU7>E

:XR_XgÌcV_UVac`[V\eVc 5Vde`cVac`[V\eVcVcZÞ[VS]Z\\Ve+ 2_d\RWWV]dVRW^Rd\Z_Vc 3Ì]eVXcRgV^Rd\Z_VcdR^e_jVcV_UVXcRgVcV d`^W`cgV_eVdRe\f__VUÌ\\VSËUV cV_UVXcRgVc`X]ÌddV^Rd\Z_VcZV_`XdR^^V ^Rd\Z_V>Rd\Z_Vc_VVcV]]Vc\R_aR_dcVd DR^eZUZXedVdUVcaË_jVSf]]U`kVcV`X XcRUVcVdR^eV_cÌ\\V^Z_UcV^Rd\Z_Vc @^R]eXËcVWeVca]R_V_\R_UVWÞcdeV_jV ^Rd\Z_VcW`cgV_eVdZ]ÞSVeRWËcVeV]]VcdeRceV_ RW#!"$<`_ecR\ed\cZg_Z_XW`cgV_eVdZ]ÞSVeRW W`cd`^^VcV_ 2_d\RWWV]dVRW_je^ReVcZV]eZ] :_XV_ZÞcXcfaaVdÌe :88CAdÌeeV_VYRc]Ì_XVgÌcVeÞ_d\Ve `aUReVcVe FUW`cUcZ_XV_SVdeËcZRed\RSVV_SR]R_TV ^V]]V^d`]ZUe`XV_\V]e\]RddZd\YË_UgÌc\eÞ[ aËUV_V_VdZUV`XWV\d^VcV^`UVc_VV] gÌc\eÞ[aËUV_R_UV_dZUV9g`cUR_`a]RUVd gÌc\eÞ[Vef_UVcWV]eW`cY`]UVeT @aXRgVc_VZ_UV_W`cdacÌ_X_Z_Xde[V_VdeV_ YRcUVdZUdeV"!"&Ëcd\ZWeVeWcRUVWV_dZgV ÞUV]ÌXXV]dVcWV\dSc`dacÌ_X_Z_XVceZ] ^`SZ]ZeVedWcV^^V_UVdacÌ_X_Z_XVcd`^ XV__V^ScjU_Z_XRW^fcV`X\`_decf\eZ`_Vc ~3cVRTYZ_X~5VeSVejUVc_Refc]ZXe`XdË Ì_UcVUV\cRgeZ]^ReVcZV]]Ve

2WÞgcZXV^ReVcZV]ac`[V\eVcd`^Vc^VXVe ]R_XeZa]R_]ÌX_Z_XV_VcZ_U\ÞSRWV_V]]Vc R_UV_W`c^W`cZ_WcRdecf\efcSc`ZdeZ]^VU UV_eZU]ZXVcV\V_UeV3RZ]VjSc`6_UV] ]VgVcR_UÞcVcRWUZddVSc`ejaVcYRcZURXcV]ReZg \`ce]VgVcZ_XdeZU`XUVcdRedVdUVcW`caËVe fUUR__V]dVddÌed`^d\R]dZ\cVRegZYRcV_ gZUV_ WÌcUZXYVUVcdR^e^ReVcZV]eZ]YfceZX Re\f__V]ÞdVV_^Z_UcV`aXRgVV]]VcVWeVc ^`UeRXV]dVRWjUVc]ZXVcV^ReVcZV]Re\f__V XV__V^WÞcVV_deÞccV`aXRgV3c`ejaV_ fU^Ìc\VcdZXgVURegÌcVScVUeR_gV_UV]ZX SËUVeZ]^Z]ZeÌcecR \^V_`XdËeZ]deÞeeV W`cVeTZgZ]egV[_Ve€Z\cZXV]]VcVWeVcWV\d _Refc\ReRdec`WVc 5VdfUV_dVdUVc`XdËaËV_YV]e]VeSc` AVcd`_V]Sc`^ZUUV]UVcaËV_XV]d\\R]UVd :_WR_ecj3cZUXV5R_d\VZ_XV_ZÞcV_YVUVc YRceZU]ZXVcV]Ë_eUV__VSc`ejaVgVUR_UcV V_YVUVcZ:D27 DZUV]ÞSV_UVRWacÞgVcgZdeÞeeVeRW"A?:83E? VeaR_dcVeZ_XV_ZÞc\ÞcVeÞ[^VUXcRgVRc^Z ]ÞSVeRWW`cËcVe 5VeVceR_\V_RegZUVcgVUWËcVcWRcZ_XVc`X Xcf_U]RXW`cRed\cZgVScfXVcdaVTZ \ReZ`_Vc W`cVeW`cYËSV_e]ZXWcV^eZUZXcZXeZXeaR_dcVe Z_XV_ZÞc\ÞcVeÞ[A?:8<¾E;AËV_XV]d\26G 9gZ]\V_f_UVcg`X_UVc\R_S]ZgVR\efV]Vc Z\\VRW\]RcVeGZYRcU`X_`X]VX`UVVcWRcZ_XVc R]]VcVUV_f?Ve`agÌXe`XScVUUVYRcg`cVd W`\fdURUVeVc^VXVeRWXÞcV_UVZcV]ReZ`_eZ] aRddRXVRWUV`WeV^VXVeUËc]ZXVTZgZ]VSc`Vc `X`gVcXR_XVd`^gZ^ÞUVcZ:?E@AD AËUV_]ZUe]Ì_XVcVSR_VdVcgZXV_VcV]eVWeVc ^f]ZXYVUV_W`cW[Vc_dejcZ_XRW\ÞcVeÞ[Vc`X ^Rd\Z_Vcd`^\R_XZgV^ReVcZV]]Ve^VcV V\dZSZ]ZeVe`Xd\RSVdeÞccVd`]UReVcdZ\\VcYVU 5Rg`cVdY`gVU`aXRgVVcRedZ\cVRe_je ^ReVcZV]]VgVc`aeZ]_fgÌcV_UV`XWcV^eZUZXV `aVcReZgV\cRgdËVcUVegZXeZXeRegZVcZeÌe \`_eR\e^VUScfXVc_V2]]VUVcYRcVcWRcZ_XVc `XZUVVcVcUVcW`c^VXVegV]\`^_VeZ]Re \`_eR\eVdV\eZ`_V_dWRXW`]\W`cV_fW`c^V] UcÞWeV]dVRWWcV^eZUZXe^ReVcZV]`XYRcUf VcWRcZ_XZ_UV_W`cUVeZ_XV_ZÞceV\_Zd\V`^cËUV VcYË_UgÌc\VcfUUR__VeV]]VcYRcV_YÞ[VcV eV\_Zd\TZgZ]fUUR__V]dVgZ]RcSV[UVeZg`cVd dV\eZ`_XR_d\VdZ\\VcegÌcV_`XVeW`cUZX

DR^eZUZXVca]RUdV_`XgÌXeXcÌ_dVc_VaË \ÞcVeÞ[Vc_VV_^VXVegÌdV_e]ZXWR\e`c Ac`[V\eVeW`cgV_eVdRWd]feeVedZUdeaËËcVe




>c\Zc^©gigdeeZgcZh =^hidg^h`ZhVba^c\ ?ZgcWVcZbV\Vh^cZi

«S_Z_XdeZUVc+ >R_URXeZ]e`cdURX+!)+$!"#+$! 2WeV_]ÞcURX dÞ_URX+VWeVcRWeR]V <`_eR\e+ >R[`cA`f]=RddV_ 2_dgRcdYRgV_UV E]W+%!%$#$'% (##)&!"" V^RZ]+YZRd]V!"1^Z]U\ WZZ_:8C=6!" >RceZ_HZ]_`c 5RX]ZX]VUVc E]W+&!)%)(*' ZXcXdV")1^Z]U\

>RceZ_HZ]_`c

3Z]]VUVc6WWV\eVc9Zde`cZVc >`UeRXVd^VUX]ÌUV <`_eR\e`d 


1DYQH1\W ?jTYVWW`c7`cdgRcVeVcfU_Ìg_e DeRed^Z_ZdeVcV_`WWV_e]ZXX[`cUVeZcdURXUV_ #!^Rced#!"#ReUV__jV7`cdgRcdTYVWS]ZgVc ScZXRUVXV_VcR]AVeVc3RcecR^9R_\`^^Vc WcRV_deZ]]Z_Xd`^RddZdeVcV_UVdeRSdTYVWgVU ?2E@Y`gVU\gRceVcVeD24EDfacV^V2]]ZVU 4`^^R_UEcR_dW`c^ReZ`_ZFD2  AVeVc3RcecR^Vc&!Ëc`XYRcgÌcVeZW`cdgRcVe dZUV_"*)"AVeVc3RcecR^YRceZU]ZXVcVgÌcVe TYVWW`c"3cZXRUVd`^deËcW`cfUUR__V]dV_ RWUVd`]UReVcUVcdV_UVdaËZ_eVc_ReZ`_R] ^ZddZ`_Z2WXYR_ZdeR_6_UgZUVcVYRcAVeVc 3RcecR^gÌcVe4YZVW>Z]ZeRcj2ddZdeR_egVU >f]eZ_ReZ`_R]4`cad?`ceYVRdeZA`]V_`XTYVW W`cFUgZ\]Z_XdRWUV]Z_XV_Z9ÌcV_d@aVcReZgV <`^^R_U`AVeVc3RcecR^YRc`XdËZV_ ËccÌ\\VRcSV[UVegVUW`cdgRcddeRSV_ :#!!##!!$gRcAVeVc3RcecR^fUdV_Ued`^ dejc\VTYVWW`cUV_UR_d\VSReR][`_gVU<7@CZ <`d`g`  5VeVc9V_UVd>R[VdeÌe5c`__Z_XV_UVcYRc X`U\V_UeAVeVc3RcecR^d`^_jW`cdgRcdTYVW :_UdeZ]]Z_XV_RWScZXRUVXV_VcR]V_\`^^VcWcR 7`cdgRcd^Z_ZdeVcZVe

FU_Ìg_V]dVc

;VXYRcde`ceZ]]ZUeZ]ReAVeVc3RcecR^\R_ SZUcRXVgÌdV_e]ZXeeZ]Re]VUVW`cdgRcVedZ\\Vce ZXV__V^UV_fUgZ\]Z_X`X`^deZ]]Z_Xd`^ W`cdgRcVed\R]ZXV__V^dR^eZUZX^VURe UR_d\Vdejc\VcW`cedRegZ]d\f]]V]ÞdVgR_d\V]ZXV Z_eVc_ReZ`_R]V`aXRgVcGZYRcScfXW`cVe deÌc\eW`cdgRc5VeVcVeW`cdgRc^VUUjXeZXV R_dReeV`X_`X]VRWUVR]]VcSVUdeVd`]UReVc dZXVcW`cdgRcd^Z_ZdeVc?ZT\9Ì\\VcfaeZ] 7`cdgRcd^Z_ZdeVcZVedY[V^^VdZUV  AVeVc3RcecR^VcfU_Ìg_eWcReZcdURXUV_#! ^Rced#!"# 5VeVcV_gZXeZXeZUd`^gZXËcZ^ÞUV5Ve Vc^Z_`gVcSVgZd_Z_XRegZ\f_\R_\]RcV fUW`cUcZ_XVc_VgVUV_WÌ]]Vd`X^Ë]cVeeVe Z_UdRed5VcW`cgZ][VX`XdËZUV_\`^^V_UV eZUXÞcVV_de`cZ_UdRedW`cRe\`^^V^Vde ^f]ZXecf_UeZW`cdgRcVedËUR_Re[VXWËcVe `aUReVcVeSZ]]VUVRWW`cdgRcVeddZefReZ`_`XUV fUW`cUcZ_XVc:YgVcZdÌcdeËc^VUdZXVcAVeVc 3RcecR^eZ]W`cdgRcVedR_dReeV

=VXReVc DD86cZ\D 3c`UVcdV_ DE :8CVcUV_ "^Rced#!"# fU_Ìg_eeZ] 4D8

DD8DÞcV_8`f]DE :8CVcUV_"^Rced#!"# fU_Ìg_eeZ]4D8 DD8;ÞcXV_;VaaVdV_9@<VcUV_"^Rced #!"#fU_Ìg_eeZ]4D8;ÞcXV_;VaaVdV_Vc eZ]ecËUedeZ]]Z_XV_d`^]VUVcRWFU]VgVcV_UV 5Va`e

DVcXV_e>RceZ_GZ_eYVc?ZV]dV_:_XV_ZÞc cVXZ^V_eVe^`Ue`XUV_#$WVScfRc#!"#Ve YÌUVcd]VXReWcR9V__Z_XCV^^V_dDeÞeeVW`_U W`c8RcUVcVDVcXV_e>RceZ_GZ_eYVc?ZV]dV_ YÌUcVdW`cdZ_Z_UdRedZ2WXYR_ZdeR_aËY`]U "! AcV^ZVc]Þ[e_R_eCRd^fd¾XRRcU;V_dV_ ^`Ue`XUV_*^Rced#!"#<RaeR[_9 C`eYVd`XYfdecfd]VXReDR^^V_WRe_Z_X RWSVXcf_UV]dV_+~DR^]VedVeWcV^deËc acV^ZVc]Þ[e_R_eV_d`^V_YV]deÞSeUjXeZX `Xac`WVddZ`_V]Z_XV_ZÞc`W TVcUVcW`c^ËcRe acÌXVdZ_VW`]\eZ]RejUVUVcVdSVUdeV€`X S]ZgVV_U_fSVUcV~




Alt i malerarbejde

MEDLEM AF DANSKE MALERMESTRES GARANTIORDNING

JENS MALER Jens J. Johansen Kærmindevej 8 · 7800 Skive Biltlf. 40 97 83 03 · Fax 97 52 05 46

TLF. 97 52 73 03

Bakkedraget 6 7800 Skive Tlf. 97 52 73 53

Åbningstider: Mand.-fred. 15-17 Lørdag 10-12

A/S aut. el-installatør

www.skp-el.dk

Skive: Søndergade 17 7800 Skive Tlf. 97 52 22 33 Fax 97 52 14 24

24

Lem: Ringvej 1, Lem 7860 Spøttrup Tlf. 97 56 85 00 Fax 97 56 84 63

Elkøb Søndergade 17 7800 Skive Tlf. 97 52 22 35


K^h`dgehÂ&#x20AC;cY :_XV_ZĂ&#x17E;cec`aaVc_Vd7`_UYRcZ_U\Ă&#x17E;SeVe_jeaRceZcVXZ^V_edSĂ&#x152;]eVc 5V _UVdZdeĂ&#x17E;ccV]dVc_V*&`X"#!TV_eZ^VeVc CVXZ^V_edSĂ&#x152;]eVc_V\`deVc#!!\cacde\`X\R_\Ă&#x17E;SVdY`ddV_Z`cdVcXV_e@]V 9RcUVcDeRS:_XV_ZĂ&#x17E;ccVXZ^V_e 5f\R_\`_eR\eV@]VaĂ&#x2039;+ EV]VW`_+(##)&!"$ 7ZZ_+:8C8D6!$ >RZ]+`Y1^Z]U\

Gode boliger til hele familien - EN ANELSE QVIKKERE Mandag-fredag 6.00-24.00 Lørdag-søndag 0.00-24.00 VASKEHAL - KIOSK - BILUDLEJNING

Sdr. Boulevard 4 . 7800 Skive Tlf. 97 52 23 67

+ONGELIGHOmEVERENDÂ&#x2019;R

$ANSKEOGUDENLANDSKE

/RDENSBAAND -INIATUREORDNER MEDALJER SLÂ&#x2019;JFERROSETTER 0EDER3KRAMSGADE+Â&#x2019;BENHAVN+ 4ELFAX E MAILMWM MWMORCHDK WWWORDENSBAANDDK

Falkevej 17 8800 Viborg Tlf. 86 61 36 66 Fax 86 61 04 66 Email: Info@Brondum-Boliger.dk Brondum-Boliger.dk


,1*(1,‘55(*,0(17(7662/'$7(5)25(1,1*

'('$16.(3,21(5)25(1,1*(5

3,21(5(1c5*$1* $SULO 7`c^R_UV_d\]f^^V DËVcËcVe\`^^VeX`UeZXR_X?ËcUVeeVS]RUVcaËXRUV_Vcde`cedVeR]]VUV]`\R]V XV_VcR]W`cdR^]Z_XVcRWY`]Ue`XUVcdVcZ\\VfUeZ]`XgÌcV~UVde`cVcVg`]feZ`_Vc~_`XV_deVUVc GZYRcYRWeW`c^R_Ud^ÞUVZ@UV_dV`X^VUcZXeZXX`UeZ]d]fe_Z_X`XYVcgRcUVcXV_dZUZX `cZV_eVcZ_X`XW`cd]RXUVcWcV^dÌeeVdaËDV_UV^R_Ud^ÞUVeS]VgXV__V^UcÞWeVe9>5c`__Z_X >RcXcVeYVYRgUVZ[R_fRc%!ËccVXV_e[fSZ]Ìf^5VeeVS]VgRWd`]UReVccW`cV_Z_XVc_V^W^Rc\VcVe ^VUV_WR_VaRcRUVZf^ZUUV]SRc_ÌcYVURW2^R]ZV_S`cX`XVeaRcAZ`_VcWR_VcgRceZ]deVUV gVUUV_]V[]ZXYVUUVdgÌccV\f__V[VXZ\\VdV]gUV]eRXVaXRdjXU`^9fd\Uf\R_R]eZUdVUVe dZUde`aUReVcVUVaËg`cVdY[V^^VdZUVhhhaZ`_Vcd`]UReU\`XUVcVc`XdËSZ]]VUVcWcR^R_XV eZU]ZXVcVRccR_XV^V_eVcdR^eYV_gZd_Z_XVceZ] VcVR_UcVY[V^^VdZUVc^VUd`]UReVcW`cV_Z_dde`W dËUVeVcRSd`]feVeSVdÞXgÌcU9fd\`XSVdÞXUZ_d`]UReVcW`cV_Z_XeZ]VeRWUVcVdX`UV RccR_XV^V_eVcUfS]ZgVcXRcR_eVcVeX`Ue^`UeRXVe 9V]^feY9R_dV_=R_UdW`c^R_U =R_UdcËUd^ÞUV 5R_d\VD`]UReVcW`cV_Z_XVcd=R_UdcËU5D=Y`]UVcdZeËc]ZXV=R_UdcËUd^ÞUV]ÞcURXUV_#"RacZ] \]!*$!aËG`cUZ_XS`cX<RdVc_VAËXcf_URWfU]ZTZeVcZ_XRW\R_eZ_VUcZWeV_YRcUVeV_U_fZ\\V gÌcVe^f]ZXe`XWËacZdVcaËW`ca]V[_Z_X^V_UVgZ]\f__VdVdaËg`cVdY[V^^VdZUV_ËcgZWËc UV^:_eVcVddVcVUVZ`XUV]eRXVZ=R_UdcËUd^ÞUVe\R_YV_gV_UVdZXaËe]W&&($'"$"`^XËV_UV DV_UV^R_Ud^ÞUV 5V5R_d\VAZ`_VcW`cV_Z_XVcRWY`]UVcdZe`cUZ_ÌcVDV_UV^R_Ud^ÞUV]ÞcURXUV_"*^R[\]"%!! aËD\e9V]V_VZEZdgZ]UV]V[V5RXd`cUV_ZYegVUeÌXeVc_V7`cd]RXUVcÞ_d\VdSVYR_U]VeaË ^ÞUVed\R]gÌcV55AdW`c^R_UZYÌ_UVdV_VdeUV_#!RacZ]2_^V]UV]dVRWdV_UV^Ì_UZYe gVUeÌXeVc_VdŽ"%d\R]gÌcV55AdW`c^R_UZYÌ_UVdV_VdeUV_#!RacZ] 2]]VeZ]^V]UZ_XVcUVc\f_gVUcÞcVc>Z_ZWVcZV_d\R]W`cVeRXVdeZ]>ZTYRV]3VUdeVUZYe R__`_TVcZ_XV_YVcZS]RUVe

55A3jUVcgV]\`^^V_eZ]+ 

"*'$&((!(";ÞcXV_EDefS\[Ìc

"*)%!)!)'"3[Rc_V=Z__VS[VcX>RUdV_



"*)"$!"#'!<]Rfd4YcZdeZR_dV_

3^VU]V^?Z\]Rd3[VccZ_XDRSc`V?Vf^R__



2UcVddV]ZdeVeZ]W`cV_Z_XVc_VWZ_UVdSRXVcdeZS]RUVe

D\ZgV AZ`_VcW`cV_Z_X



?`cUgVde[jd\ AZ`_VcW`cV_Z_X

@UV_dV AZ`_VcW`cV_Z_X


<ÞSV_YRg_dAZ`_VcW`cV_Z_X

3R_\`"(RacZ] 9RcUfV_R_UV_RWeR]VUV__VURXYRcUfV_`aXRgV+Uf^ËYfceZXde^f]ZXWËÌ_UcVeUV_RWeR]VdËUf\R_ \`^^VeZ]32?<@Z<ÞSV_YRg_dAZ`_VcW`cV_Z_X\]"*$! GZ]UfgÌcV^VUeZ]g`cVdWÌ]]VddaZdV\]")!!dËYfd\eZ]^V]UZ_XeZ]daZd_Z_XeZ]>ZTYRV]dV_VdedÞ_URX AcZdV_aËdaZd_Z_XV_Vc\f_'&\c5VcdaZ]]VddV\ddaZ]eZ]SR_\`daZ]]Ve 9fd\Re:\R_Y`]UV[Vc`aUReVcVeaËY[V^^VdZUV_

DZUdeVd\jUVURX+ EZcdURXU"&^R[VcUVedZUdeVd\jUVURX^V_Yfd\RegZdeRUZXVcaË<RcV_d>Z_UVeZ]`X^VUeZcdURXU#* ^R[Yg`cVWeVcgZY`]UVcWVcZV]f\\VeYV]V[f_Z`X[f]Z^Uc

D\jUVRWd]fe_Z_X+ EZcdURXU#*^R[RWY`]UVcd\jeeV]RfXVed\jUVRWd]fe_Z_X^VUacÌ^ZV`gVccÌ\\V]dV`XYjXXVd`^dÌUgR_]ZX

7fX]Vd\jU_Z_X#!"# #$[f_ZRWY`]UVcgZWfX]Vd\jU_Z_X_Ìc^VcVZ_ÌdeV_cRWAZ`_VcV_CVdVcgVcURXV__fdËUf :\R_UV]eRXV

59=deRWVe :fXV$&d\R]<ÞSV_YRg_daZ`_VcW`cV_Z_XUV]eRXVZdeRWVeeV_Z7Ì]]VUaRc\V_UV__Þ[RXeZXVURe`\V_UVdZ\\V dËY`]U[Vc`aUReVcVeaËY[V^^VdZUV_V]]Vc`^eZcdURXV_Z<RcV_d>Z_UV  

>Z_ZWVcZVWcRUV_"(#!^R[#!"#^VUdV_UV^R_Ud^ÞUV]ÞcURXU"*\]"% E`cdURXR_\`^de\]"%eZ]D\e9V]V_V3jX^Rc\V_$!$##!EZdgZ]UV]V[VYg`cgZ^ÞUVdeZ]\RWWV^VU\RXV Yg`cVWeVcgZWËcfU]VgVcVe_ÞX]VceZ]g`cVdgÌcV]dVc5VcVWeVcUVcgZ]gÌcVWÌ]]VdR\eZgZeVeVcZ_UeZ]UVcdaZdVd \]")$!WVcZVdeVUVedSfWWVe 7cVURX+>`cXV_^RUWcR\])\]!*#!RWXR_X^VUSfdeZ]9`cdVcÞU]V[cV_d^fdVf^_ËcgZYRcdVe]V[cV_d ^fdVf^eRXVcgZeZ]WcZ]R_Ud^fdVVe`X\Z\\VcaËYg`cUR_^R_]VgVUVZXR^]VURXVGZeRXVc^RUaR\\Vc^VU d`^gZdaZdVcaËVeaRddV_UVdeVU`XeZUdaf_\e<]")$!daZdVcgZWVcZVdeVUVedSfWWVe =ÞcURX+>`cXV_^RUWcR\])\]!*#!RWXR_X^VUSfdeZ]7cVUVcZ\dS`cXd]`edR^e9Z]]VcÞUSjGZeRXVcZXV_ ^RUaR\\Vc^VUd`^daZdVdaËVeaRddV_UVdeVU`XeZUdaf_\eGZVceZ]SRXVaËD\e9V]V_V\]TR"$!! 9VcVWeVcXÞcVd\]RceZ]dV_UV^R_Ud^ÞUV\]"%!! 5cZ\\VgRcVc\R_\ÞSVdaËR]]VefcVeZ]UVdÌUgR_]ZXVacZdVc <]")!!+7`e`XcRWVcZ_X <]")$!+EcVcVeeVcdWVde^V_f^VUVeX]RdYgZUgZ_`X^fdZ\ DÞ_URX+>`cXV_^RUWcR\]!)!!UVcVWeVcRWcV[dV 5cZ\\VgRcVcfU`gVcUV_Ìg_eVVcW`cVXV_cVX_Z_X AcZdV_W`cR]eUVeeVVc\f_acaVcd`_ZU`SSV]egÌcV]dV\c#%*&!!`XV_\V]egÌcV]dV\c$#&!!! EZ]^V]UZ_X`XSVeR]Z_Xd\R]gÌcV<AZYÌ_UVdV_VdeUV_"&RacZ]EZ]^V]UZ_XeZ]UV__V^Z_ZWVcZV+ >ZTYRV]3VUdeVU<A>RZ]+aZ`_Vc1RS]ZgRhVV]U\V]]VceV]VW`_+#$)%*!*& 3VeR]Z_XeZ]5R_d\V3R_\+cVX_c"&&"\`_e`_c!!!&%%#### AZ`_VcYZ]dV_=VZW2

9g`cW`cVc_Rg_Ve9V]V_VScfXedË^VXVeZEZdgZ]]V]V[V0 :WÞ]XVdRX_VegRc9V]V_VV_Wc`^d\Ë_d\aZXVd`^S]Vg`gVcWR]UVe`XUcÌSeRWcÞgVcV5RUVYRgUV\RdeVe YV_UVd]ZXZYRgVegVUUV_dgV_d\V\jdedeVXV_de`c\]ZaaVS]`\`aWcRYRgVedUjS`XSRc9V]V_Vd]VXV^V `gVcYRgVeYg`cUVeUcVgZ]R_UgVUEZdgZ]UV]V[V5R]`\R]VSÞ_UVc`X d\VcVgZ]]VSÌcV]ZXVe`a`gVc d\cÌ_eV_^`UEZSZc\V<Zc\VW`cReXZgVUVeV_\cZdeV_SVXcRgV]dVd\VeVUVcVe[ÌeeVeVX_ReV_d]fXeËS_VUV dZXZd\cÌ_eV_W`cUVcVdWÞUUVc3VeRXVeRWdj_VedReeVUVSËcV_WcRdZX`XdecR\ddacR_XV_\Z]UVWcV^WcR deVUVeAËgV[V_^`U\Zc\V_SVXj_UeV_`X]VRWSÌcVc_VZ^ZU]VceZUReWÞcVfYÞgZd\eR]V`XURdR_\SËcV_ ^VU9V]V_V_VUZ[`cUV_Yg`cgVUYf_ \dZedZUdeVYgZ]VdeVU\f__`X]VYf_UcVUV^VeVcZ_UVZ]R_UVeaËUVe UVcUV_XR_XgRcËSV_^Rc\ 9V]V_V\Z]UVVcV_RW5R_^Rc\d^VdeSVcÞ^eV\Z]UVc`XWcRXR^^V]eZUW`ceÌ]]VdUVeReUV_d`^VcdjX`X Z\\V\R_YV]ScVUVdRWR_UV_gV[d\R]\`^^VeZ]\Z]UV_UV_#$[f_ZDR_\e9R_dRWeV_9Vcd\R]^R_eRaaV UVe\gR_ef^gR_U^R_W`c^`UVcRe\f__VUcZ\\VZ]ÞSVeRWUV_\`^^V_UV_Re`XYVcVWeVcSVXZgVdZXeZ] 9V]V_VXcRgYg`c^R_]ZXXV_UVaËXcRgV_UcZ\\VcUVeYV]]ZXV`XYV]ScVUV_UVgR_U@X_Ëc^`cXV_]jdVeW`c R]g`c\`^^VcZXV_gZ]^R_gÌcVYV]ScVUeW`cdZ_djXU`^




=`]]R_U7R]deVcAZ`_VcW`cV_Z_X DËVcUVe_jËcdeRceVe^VUcVX_`Xd]fU

;R_fRc GZS`h]VUVZ?j\ÞSZ_X7GZgRc"%UVcgRc^ÞUe`a`XYRgUVV_X`URWeV_5VeVc`XdËeZ]]RUeRe\`^^V`X YjXXVdZXfUV_ReS`h]VGZd]RaaVcR]eZURW^VUV_eËcSRXVWeVc

7VScfRc GZ_eVcV_Vc\`^^Ve5Ved_VVUVaËDjUYRg_dÞVc_VGZgRc"!UVcgRc^ÞUe`aeZ]S`h]Z_X`XYRgUVV_X`U RWeV_

7`c^R_Ud^ÞUVUV_"!WVScfRcZ@UV_dV 9V_cZ3`VdV_`X>`XV_d;V_dV_UV]e`X 5VeS]VgV_X`U`X\`_decf\eZgURX9V]^fe9R_dV_`cZV_eVcVUV`^UVeZ_XUVcd\R]d\V GZ`cZV_eVcVUV`^RegZgZ]]VeR]V^VU2UR^<_feY`^VeecÌWW`cAZ`_VcVc`XAZ`_ÞdVcZ<_feYV_S`cXARc\ 5VegRc^V_Z_XV_RegZgZ]]VYRgVRccR_XV^V_eVe`aRedeËYVcZW`cËcVe GVUW`c^R_Ud^ÞUVe\f__V[VXW`cdeËRe<ÞSV_YRg_dAZ`_VcW`cV_Z_X`XDjUd[Ì]]R_UdAZ`_VcW`cV_Z_XgRc Z_eVcVddVcVe 5VeS]ZgVc]ÞcURXUV_""RfXfde€GZYRcRWeR]e^VU2UR^<_feYReUVe\R_]RUVdZXXÞcV GZ\R_gÌcVZ3ÌgVcYR]VYfdVe`XRWY`]UVg`ceRccR_XV^V_e 9fd\Re_`eVcVURe`V_5VcgZ]ZS]RU_c$SVd\cZgVd`^eZUdaf_\e^^

>R["(")"*#!dV_UV^R_Ud^ÞUV^Z_ZWVcZV DVf_UVc<ÞSV_YRg_dAZ`_VcW`cV_Z_XS]RUYVcZS]RUVe2]]V\R_UV]eRXV

9fd\ReeRXVV__j\R^^VcRe^VU5V _UVd AËSVdejcV]dV_dgVX_V 9V_cZ3`VdV_

CR_UVcdAZ`_VcW`cV_Z_X

2\eZgZeVeVc 2acZ] U"!AZ`_VcRWeV_9ÞgV[V_#"\]"*!!  >R[ U$<cR_dV]ÌX_Z_XZD\ZgVU)AZ`_VcRWeV_9ÞgV[V_#"\]"*!! U"(#!^Z_ZWVcZV^VUdV_UV^R_Ud^ÞUV]ÞcURXU"*\]"%!!  ;f_Z U"#8cZ]]RWeV_9ÞgV[V_#"\]")!! ASg 9R_d5R^XRRcU

DjUd[Ì]]R_UdAZ`_VcW`cV_Z_X

<R^^VcRed\RSdRWeV_ 5VcY`]UVd\R^^VcRed\RSdRWeV_WÞ]XV_UVWcVURXV+UV_"$RacZ]UV_""^R[UV_)[f_ZR]]VURXV\] "*!!Z]`\R]Vc_VZ<R]SjcZd2_]ÌXD\jeeV^Rc\dgV[#!!?ÌdegVU

<`_TVce :dR^RcSV[UV^VU9[VceVW`cV_Z_XV_`XDjUd[8RcUVcW`cV_Z_XZ_gZeVcVdeZ]8R]]R\`_TVce^VU=ZgXRcUV_d @c\VdeVcZ9Vc]fWdY`]^9R]]V_`_dURXUV_#&RacZ]\]")!! Ac`XcR^^VeW`cUV__VRWeV_+<]")!!8R]]R^ZUURX #cVeeVcdSfWWVeYVcVWeVc\`_TVceV_^VUdR_XVc_V3ZceYV <[Ìc`X3`S`>`cV_`GZYRcdÌcacZdaËUVeeVRccR_XV^V_eaË\c$!!dË]Ì_XVUVcVcSZ]]VeeVcV_U_f 3Z]]VeeVcSVdeZ]]VdY`d?`c^R__9R_dd`_e]W&&(%)'!'€&&($!)*(dËYfceZXed`^^f]ZXe




9FD< EZ]^V]UZ_XeZ]>Z_ZWVcZV_Z?`cUd[Ì]]R_U

D[Ì]dÞCf_Ue GZVc_`XV_dej\\VcUVcRXeVc`X\ÞcVTj\V]]ÞSVe~D[Ì]dÞCf_Ue~TR"$!\^dÞ_URXUV_"![f_ZaËg`cVd ~XR^]VYRgV]ËXVc~9gZdUfVcZ_eVcVddVcVeZReUV]eRXV\R_UfYV_gV_UVUZXeZ]=VZW9R_dV_aËe]W+#*#%"' $!W`c_Ìc^VcVZ_W`c^ReZ`_5VUVcZ\\VÞ_d\VcReTj\]Vd\R]gÌcVgV]\`^^V_eZ]RegÌcVdfaa`ceVcV`X Vge\ÞcVY[Ì]aVg`X_V_dË\R_gZR]]VWËV_X`UURX 5R_^Rc\dÌ]UdeV^`eZ`_dTj\V]]ÞS 5R_^Rc\VcV__ReZ`_RWTj\V]V_efdZRdeVc`XUVc _UVdVefeR]RW]ÞS^V_D[Ì]dÞCf_UeVcUVeÌ]UdeVRW R]]V>VUdZ_V%#ËcaËSRXV_VcUVc^R_XVUVcXV__V^eZUV_YRcTj\]Ve^VUZUVeeVW`]\V]ZXV^`eZ`_d]ÞS =ÞSVeY`]UeV_aRfdVZ#!!)^V_S]VgZ#!!*XV_`a]ZgVe^VUGVXXVcSjDa`ce<f]efcd`^RccR_XÞc GZdj_Vd_V^]ZXUVegRcÌcXVc]ZXeRe]RUVVedËecRUZeZ`_dcZXe`XYÌUVcd\c`_Ve]ÞSfUUÞGZgR]XeVUVcW`c ReW`c_jUVe`XXÞcVUVeeZUdR\efV]e^VUS]RV__j#)\^WR^Z]ZVcfeV5Vc^VUVcD[Ì]dÞCf_UeZURX eZ]SRXVd`^V_de`cd`TZR]`XW`]\V]ZXVgV_e^VU_ÌdeV_)!!!UV]eRXVcV`XYg`cUVcVca]RUdeZ]R]]V,SËUV WR^Z]ZVc_VUVf_XVSVUdeVW`cÌ]UcV_V c^RVc_V`XdfaVc^`eZ`_ZdeVc_V

AZ`_VcecÌWZ<_feYV_S`cX AZ`_VcVc_VaË~DjUYRgdÞVc_V~YRcWËVeV_RWeR]VZdeR_U^VU8cVgV2UR^<_feY`^Ve~ecÌW~Z <_feYV_S`cXARc\]ÞcURXUV_""RfXfde5VYRcdËeZ]SfUeaZ`_VcVc_VWcR<ADjUd[2egZ\R_UV]eRXV`X UVedj_VdgZVcVeX`UeZ_ZeZReZgdËgZ]RgVcVeHVV\V_URccR_XV^V_eZ>RcZS`WcRWcVURXUV_"!eZ]dÞ_URX UV_"#RfXfdeGZgZ]]V[V_`XV_YjeeVcaË>RcZS`4R^aZ_Xa]RUdZUV_eR\eeZ]^V]UZ_XVc_V\`^^VcZ_U`X dË]Ì_XVUVcVc]VUZXVYjeeVc`XUVUVcYRcTR^aZ_Xg`X_\R_dV]gWÞ]XV]ZXScfXVUV^DË\R_gZXcZ]]VWcRURX RWeV_\ÞcVeZ]<_feYV_S`cX`^]ÞcURXV_XcZ]]VaËTR^aZ_Xa]RUdV_]ÞcURXRWeV_`XVWeVcW`c^ZUURXd\RWWV_ dÞ_URX\ÞcVcgZY[V^:_eVcVddVcVUV\R_YV_gV_UVdZXaËe]W+#$*&)!*(W`c_Ìc^VcVZ_W`c^ReZ`_`^acZd ^^ =ZUe`^<_feYV_S`cXdYZde`cZV <_feYV_S`cX_Ìg_VdWÞcdeVXR_XZYZde`cZV_"$#*f_UVc_Rg_Ve«cd^Rc\V:_UeZ]"''#eZ]YÞceVUV_XR^]V YVccVXËcUW`cecZ_dgZd^VU]V^^VcRWUV_XR^]VUR_d\VRUV]d`^ZCZXdcËUVegRcUV_cVV]]V^RXeYRgVcZ 5R_^Rc\?`cXV`X7ÌcÞVc_V<`_XV_gRcgR]XeRWCZXdcËUVe7R^Z]ZV_Fc_VgRcÎ_RWUV_eZUd^ÌXeZXV WR^Z]ZVcEcVXV_VcReZ`_VcRWUV_SVdRU«cd^Rc\V"&#("''( 5R7cVUVcZ\$"'!*(!Z_UWÞceVV_VgÌ]UV`XUVc^VURcgV]ZXe^`_Rc\Z"''!gR]XeVYR_ReRU]V_jV^Ì_U `^\cZ_XdZX®_RWUV^gRc4`c_V]ZfdAVUVcdV_=VcTYVRW\RccZVcVUZa]`^Re`XWcR"''(V[VcRW«cd^Rc\V ^^9R_dUReeVcDÞdeVc=VcTYVS]VgZ"'((XZWe^VUUV_^VT\]V_SfcXd\VRUV]d^R_U6XXVce4YcZde`WWVc g`_<_feYd`^gRce[V_deXÞcV_UVY`dUV_UR_d\V\`_XV4YcZdeZR_&"'%'"'**¬XeVaRccVe<_feY =VcTYVgZdeVdZXRegÌcVVeWcV^cRXV_UV^R\\VcaRcW`c«cd^Rc\Vd`^UVfUgZUVUVgVUUcZWeZXYVUeZ]\ÞS`X ^RXVd\ZWeVc 8cVgd\RSVe 5VcVddÞ_2UR^4YcZde`WWVc<_feYS]Vgf_UVc7cVUVcZ\%WR^Z]ZV_dWÞcdeV]V_dXcVgVZ"("%5VeXR^]V «cd^Rc\VS]VgeZ]UVe_jVXcVgd\RS<_feYV_S`cX 8cVgd\RSVcSRc`_ZVc`XdeR^YfdVS]Vg`acVeeVed`^WÞ]XVRWV_VgÌ]UV_5Vde`cVX`UdVcgRcSË_U]RXeV`X \f__VUVcW`cZ\\VdeZWeVXÌ]UaR_edÌeeVdV]]VcfUdej\\VdFUV]eVd\f]]VUZddVX`UdVcd`^\`_XVcZXVeWÞcVd gZUVcVeZ]Ì]UdeVdÞ_=V_dSVdZUUVc_Vd\f]]V`acVeY`]UVX]R_dV_`^\`_XV_`XgÌcVYR_ddeVUW`cecÌUVcV `^\cZ_XZ]R_UVe5VgRcd\ReeVWcZV^V_YRgUV`^ecV_edR^^VW`ca]ZXeZXV]dVcd`^V_S`cX^VdeVcZV_ \`^^f_V ?jVeZUVc 6WeVcV_VgÌ]UV_dWR]UZ")%)`X5V_?jV8cf_U]`gdZ_UWÞcV]dVZ[f_Z")%*gVUe`XCZXdURXV_V_ YV_dZXedVc\]ÌcZ_X`^ReR ÞdVXcVgd\RSVc_VSRc`_ZVc_V`XdeR^YfdV5VgRc]Vg_WcRV_VgÌ]UV_`XUVcW`c Z\\VZecËU^VUUVe_jVUV^`\cReZ:"*"*S]VgVc\]ÌcZ_XV_gVUeRXVegVU]`g`XUVWÞ]XV_UVËc`gVcXZ\ X`UdVc_VeZ]WcZV[V_U`^Z^`UReR VgVcVV_gÌdV_e]ZXUV]RW[`cU`X\f_ded\ReeVeZ]deReV_;`cUV_S]VgeZ] deRedYfd^R_UdScfX`X^R_XVRWd\ReeV_VSV _UVcdZXZURXZacZgReV[VV]]VcaË^fdVVccf_Ue`^ZgVcUV_ 8`UdVc_V`gVc]VgVUVZ^R_XVeZ]WÌ]UV^VU_jVV[VcWR^Z]ZVc^V_aË<_feYV_S`cXVcUVeZURXUV_"$ XV_VcReZ`_ZdR^^VWR^Z]ZV




>ZUeDjU[j]]R_UAZ`_VcW`cV_Z_X

D\jU_Z_X GZ_eVcd\jU_Z_XV_Vc_fRWd]feeVe^VU7Ì]]Vdd\jU_Z_X^VU7`cdgRcdScÞUcV`X8RcUVcW`cV_Z_X 7`cdgRcdScÞUcV_VS]Vg_c"^VU$''a`Z_e`X8RcUVcW`cV_Z_XV__c#^VU$'#A`Z_e EcRUZeZ`_V_ec`Z_Ue`XgZecVU[Va]RUdV_^VU$%&a`Z_e`X^VU;`YR__Vd4Yc?ZV]dV_d`^SVUdeVd\jeeV^VU *!a`Z_e

3`h]Z_X 7`cËcVedS`h]Z_XRWgZ\]Vd`_dURXU")RacZ]\]")!!aË3`h]Z_X7f_aË3c`\S[VcXgV[RWeV_V_W`c]ÞSVc VWeVcUVe\V_UeV\`_TVae^VUS`h]Z_X`XdaZd_Z_X`X\R^^VcRe]ZXdR^gÌc EZ]^V]UZ_XaËeV]VW`_(&)!#&(';`YdV]]Vc)')##$#"9V_cjdV_Vde"&RacZ]

%>R[ 5VcRWgZ\]Vd>Z_UVARcRUVaËGVdeVc<Zc\VXRRcUdV_Ìc^VcVZ5RXdacVddV_

7ÞUdV]dURXV <ÞSV_YRg_+ 2acZ]+ (AZ`_Vc'&%""("*'& 9Rccj@ee`dV_ 9Ì_UV]dgV[$$$ #%&!<ÞSV_YRg_DG '&Ëc #&8RcUVYfdRc3^VU]V^ 6dSVc_<Z^;Þ_dd`_ 3cf_VgR_XV_)*deeY #'"!CÞU`gcV (!Ëc #&AZ`_VVc&$*(($"*'# AVc?`c^R_5R]Yfd «]Sc`d]j_XV_# #($!9Vc]Vg (!Ëc

#!AZ`_Vc"#"!%$"*&" ;ÞcXV_H`c^AVeVcdV_ GZ_\V]gV[" $&%!=j_XV )!Ëc $"AZ`_Vc"$&)'"*$* DgV_U2RXV2_UVcdV_ ;`YR__VdSfcX2]]V$" #((!<Rdecfa *&Ëc ;f_Z+ )AZ`_Vc&$*(''"*'# E`__ZAVeVcdV_ <Z]UV^Rc\V_"* &)&%8Zd]Vg (!Ëc

DjUd[Ì]]R_U >R[+ "AZ`_Vc&#(&&!c"*'# GZXX`=RfdedV_ =Z]]Vg`]UXRUV"$deeY )*!!CR_UVcd (!Ëc

>R[ "'AZ`_Vc"'!&&#€"*(# >RiCRd^fddV_CfSÌ\ D`]gÌ_XVe# %'%!7R\dV '!Ëc

*AZ`_Vc&"*)&""*'" ;ÞcXV_4>ÞcT\ GZ_\V]gV[%! $&%!=j_XV (!Ëc

;f_Z 'AZ`_Vc"%%!""€"*&# AcVSV_?ZV]dV_ DR]]VcfagV["! %(&!=f_USj )!Ëc

"'AZ`_Vc(%(#$&"*'( 4Rc]2RXV;V_dV_ 6_XYRgV_) %#*&DeV_]Z]]V '&Ëc



CR_UVcd 2acZ]+ "#aZ`_Vc"#!%(#"**$ 9V_cZ\@aaV]decfa DecfS[VcX"*$eY *%!!?ÞccVdf_USj %!Ëc

>R[+ "aZ`_Vc&#(&&!"*'# GZXX`=RfdedV_ =Z]]VG`]UXRUV"$deeg )*!!CR_UVcd (!Ëc

>ZUe`XDjU[j]]R_U+ >R[ &AZ`_Vc"%%#()"*&# =V`8`c^dV_ 9V]^dgV[( )'!!DZ]\VS`cX )!Ëc *AZ`_Vc$%)#$("*&( ;ÞcXV_7?ZV]dV_ DjcV_gV["( )'!!DZ]\VS`cX (&Ëc

=`]]R_U€7R]deVc >Rced+ )AZ`_Vc#*(*(("*&' ;`Y_4]V^^V_dV_ 6_XgV[& %)(#:UVdecfa (&Ëc >R[+ #(AZ`_Vc"('(")"*&$ ;ÞcXV_9Ë\`_dV_ 3Zc\VgÌ_XVe")"eY %*!!?R\d\`g )!Ëc 


5VUR_d\VAZ`_VcW`cV_Z_XVc 7`c^R_U+9V]^feY9R_dV_ 2UcVddV+9RgcVgÌ_XVe$%(!!?ÌdegVU EV]VW`_+&&($'"$" <RddVcVc+<fce;ÌXVcCRd^fddV_ 2UcVddV+3]`^deVc^Rc\V_"&#)'!DÞS`cX EV]VW`_+$*'($"() 55A|dY[V^^VdZUV+hhhaZ`_Vcd`]UReU\ HVS^RdeVc+DgV_U<_fUdV_ 2UcVddV+GÌ_XV]VUUVe'#(!!3cÞ_dYÞ[ EV]VW`_+$)#)%*"# 6^RZ]+UUa1aZ`_Vcd`]UReU\ CVUR\eÞc+>ZTYRV]3VUdeVU 2UcVddV+?jTRc]dSVcXgV["$"eg"('!<ÞSV_YRg_G EV]VW`_+#$)%*!*& $$#"*!%( 6^RZ]+aZ`_Vc1RS]ZgRhVV]U\ =`]]R_U7R]deVcAZ`_VcW`cV_Z_X 7`c^R_U+9V_cZ3`VdV_ 2UcVddV+8ÞXVgÌ_XVe%#%)(#:UVdecfa EV]VW`_+&%"$###! <RddVcVc+4Rc]`;V_dV_ 2UcVddV+8VUdVcgV[#%%)!!?j<ÞSZ_XWR]deVc EV]VW`_&%)&&((% :_XV_ZÞcec`aaVc_Vdd`]UReVcW`cV_Z_XW`c ^ZUe`XdjU;j]]R_U 7`c^R_U+;`YR__Vd4Yc?ZV]dV_ 2UcVddV+DÞ_UVcSc`XRUV"!defV_("!!EÞccZ_X EV]VW`_+(&)!#&(' >RZ]+S[`X[T1ef\_VeU\ <RddVcVc+9V_cjD4YcZdeV_dV_ 2UcVddV+9Þ[^Rc\dgÌ_XVe$")'!!DZ]\VS`cX EV]VW`_+)')##$#" %!*%#$#" D\ZgVAZ`_VcW`cV_Z_X 7`c^R_U <RddVcVc+A`f]?VUVcXRRcU 7cVUVcZ\dUR]2]]Ï$%2()!!D\ZgV EV]VW`_+#%%!('** 6^RZ]+a`XZ_VUVcXRRcU1^RZ]U\

DjUd[Ì]]R_UdAZ`_VcW`cV_Z_X 7`c^R_U+9V]^feY9R_dV_ 2UcVddV+9RgcVgÌ_XVe$%(!!?ÌdegVU EV]VW`_+&&($'"$" <RddVcVc+2c_V;V_dV_EV]VW`_+&&(#*%$% 2UcVddV+D\`g\R_eV_*'%(!!?ÌdegVU CR_UVcdAZ`_VcW`cV_Z_X 7`c^R_U+9R_d5R^XRRcU 2UcVddVDjcV_gV[#$)*!!CR_UVcd EV]VW`_+)'%$"(($ #&#")"($ <RddVcVc+@c]R;V_dV_ 2UcVddV+3Ì\gV[V_"%)*%!CR_UVcdDG EV]VW`_+)'%%&&%* <ÞSV_YRg_dAZ`_VcW`cV_Z_X 7`c^R_U+=VZW29R_dV_ 2UcVddV+E`c_VSR\\V_#(3]Zdecfa$#$!8cÌdeVU EV]VW`_+%)("'%'! 6^RZ]+TZddfd1YR_dV_eUTRUd]U\

<RddVcVc+>ZTYRV]3VUdeVU 2UcVddV+?j4Rc]dSVcXgV["$"eg"('!<39G EV]VW`_+$$#"*!%( #$)%*!*& 6^RZ]+aZ`_Vc1RS]ZgRhVV]U\ AC+8ZeeVBfZUZ_X9Þ[RXVc"!)#'(!8cVgV 9[V^^V_c+%$*!!$#& >`SZ]_c+#$(#'%#' 6^RZ]+ac1aZ`_Vcd`]UReU\ D\jeeV]RfXdW`c^R_U+>ZTYRV]3VUdeVU 2UcVddV+?jTRc]dSVcXgV["$"eg"('!<ÞSV_YRg_G EV]VW`_+$$#"*!%( #$)%*!*& 6^RZ]+aZ`_Vc1RS]ZgRhVV]U\ @UV_dVAZ`_VcW`cV_Z_X 7`c^R_U+;ÞcXV_C`dV_bfZde 2UcVddV<cZdeZR_dUR]d2]]V%&&#&!@UV_dVDG EV]VW`_+''"(#!*" 6^RZ]+[bfZde1^RZ]"de`WR_VeU\ <RddVcVc+@gV?ZV]dV_ 2UcVddV+GV[cfa]f_U#*&#*!>Rcd]Vg EV]VW`_+'&*&""'$ ?`cUgVde[jd\AZ`_VcW`cV_Z_X 7`c^R_U+AVcDVZ]Z_X 2UcVddV+<gZVdXËcUdgV["$('#!=V^gZX

>c\Zc^©ggZ\^bZciZih ]^hidg^Z :_XV_ZÞcec`aaVc_VfUXRg#"_`gV^SVc#!!)VWeVc'ËcdRcSV[UVS`XV_&! Ëc^VU:_XV_ZÞcec`aaVc_V€WcRCR_UVcd`X7Rcf^eZ]D\ZgV3`XV_`^YR_U]Vc fU`gVcV_Xcf_UZXXV__V^XR_XRWUVe_fgÌcV_UVZ_XV_ZÞccVXZ^V_ed eZ]S]ZgV]dVdR^e je_Z_XV_WcR7Rcf^`XCR_UVcdeZ]D\ZgV`XdËV_SVd\cZgV]dV RWUV_]R_XVcÌ\\VRWZ_eVc_ReZ`_R]V`aVcReZ`_Vcd`^Z_XV_ZÞcd`]UReVc_V YRcUV]eRXVeZUVdZUdeV&!Ëc3VXj_UV_UV^VU5V_5R_d\V<`^^R_U` ZEjd\]R_U]ZXVVWeVcRWd]fe_Z_XV_RW#gVcUV_d\cZXd]feeV_UV^VUUV_ ^`UVc_VZ_XV_ZÞcd`]URedUV]eRXV]dVZUVZXR_XgÌcV_UV^ZddZ`_VcZ<`d`g``X 2WXYR_ZdeR_ 3`XV_Vcd\cVgVeRW2RXV<c`XdUR^`XYRcW`c`cURW7`cdgRcd^Z_ZdeVcDÞcV_ 8RUV6_UV]\V_UeVR_dZXeVcWcRW`cdgRcVe`X:_XV_ZÞcec`aaVc_VYRc^VUgZc\Ve V_eV_^VUZ_eVcgZVhdV]]VcRceZ\]Vc9Vc\R__Ìg_VdXV_VcR]Vc_V9;9V]dÞ ;DTYRc]Z_X`XA<ZÌcd\`fdR^e`SVcde@<ÞaaV_dR^e`SVcde]Þ[e_R_e49 AVUVcdV_^  2]eZR]e€"&&dZUVcdaÌ_UV_UV]Ìd_Z_X^VU^R_XVSZ]]VUVc`X `e]Rj`fe 3`XV_\`deVc"#&Z_T]VgeW`cdV_UV]dV`X`gVcd\fUUVeXËcUZcV\eVeZ] :_XV_ZÞcec`aaVc_Vd9Zde`cZd\VDR^]Z_XZ;Vc_SR_V^RXRdZ_VeaËD\ZgV\RdVc_V Yg`ceZ]UVcVcXcReZdRUXR_XYgVcURXWcR)$!eZ]"#$!`XVWeVcdÌc]ZXRWeR]V 3`XV_\R_\ÞSVdgVUYV_gV_UV]dVeZ]8Rc_Zd`_ddeÞeeVV]V^V_eVe+ <`_e`cWf]U^ÌXeZX4YR]`eeVDÞ]gSVcXeV]VW`_(##)%!!%




!FSENDER 3KIVE'ARNISON 3DR"OULEVARD 3KIVE

Sund bank

Salling Bank er en solid og sund bank med 135 ürs erfaring i Limfjordsomrüdet. Hos os für du og din økonomi solide rødder, gode vÌkstbetingelser og ikke mindst ...

overblik og tryghed Gratis bankskifte: Det er let at blive kunde hos os. Vi klarer alt det praktiske, nĂĽr du skifter til Salling Bank. Vi opkrĂŚver ingen gebyrer i forbindelse med oprettelse af nye kunder.

Algade 18 7900 Nykøbing Mors Tlf. 9752 3366 sb@sallingbank.dk www.sallingbank.dk

Nu ogsü i Nykøbing 'X¿QGHURVL$OJDGH1\N¥ELQJKYRU vi übnede dørene mandag den 27. juni 2011. Vi er parate til at byde dig velkommen. LÌs mere om os pü www.sallingbank.dk

www.f-s.dk 2011

Pengene vokser ikke pü trÌerne ... En god økonomi krÌver nÌring og pleje, nøjagtig som alt andet du vil have til at vokse og gro.

Pioneren nr. 2 2012  

Pioneren nr. 2 2012

Read more
Read more
Similar to
Popular now
Just for you