Issuu on Google+


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

!!"!!!


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

!!#!!!


-+89&+$-):);$%)&!$<$ )=>?$@A$ E'3&/3#/*-/&;#//&(-&5'3(7&(773.0+#7&*7,379&,3#7&73#,37/9&#-,&*-:3&)*73&5'3&:*+,&*8&4(-537&'#/&.(=3-& 4#$&5*&5'#5&/57#-.3&;#75&*8&5'3&$3#7&23/5&"-*4-&#/&=37-#+&/0))379&4'3-&#++&(/&:*-8+(:53,&235433-&5'3&,0#+& 07.3/& *8& 5*(+& #-,& +3(/073%&E'(/&833+(-.& (/& )*/5& (-53-/3& (-& *07& #7:'(=3/9& 4'(:'&8(-,/& (5/3+8& 8(++3,& 4(5'&/:'*+#7/& 2*5'&$*0-.&#-,&*+,&,3:7$(-.&5'3&-33,&5*&73/3#7:'&#-,&;02+(/'&#-,&/50,$&8*7&3A#)/%&O*7&)$&;#75&<&8(-,&)$/3+8& +*-.(-.&8*7&5'3&73507-&5*&5'3&B0(35&<&'#,&"-*4-9&8*7&(5&4(++&#++*4&)3&5*&)$&5#/"&4(5'&.73#537&3#/39&205&<&5*(+&*-& ,3#7&73#,37%& <-& )$& +#/5& 3-57$& (-& 5'(/& +*.9& <& '#,& 73:*0-53,& 5*& $*0& '*4& I*7.#-& '#,& 5#"3-& D+;(-& '*)3& 5*& 5'3& B64'-::#.-#.&E)4:#:$&).&')8-&9,:&+)..-:%&5(-:-6@,.&'(-&@#):&T,).-+&3,:1#./*&9#'(-:2&& &

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

!!$!!!


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

2+#:"&/'33;&*8&5'3&,0/5&20--$&8#)(+$9&#-,&5'0/&#73&;7*-3&5*&'#//+3&#++&+#;(-&)#))#+/%&

!!%!!!


D+)*/5&/+33;4#+"(-.9&I*7.#-&7*/3&8*7)&'(/&23,9&*;3-3,&5'3&,**79&.7#223,&#&/*+(,&*2F3:5&5'#5&83+5& +("3&#&20-,+3&*8&;#;37/9&#-,&:#)3&2#:"&(-9&/'055(-.&5'3&,**7&23'(-,&'()&#-,&/+0);(-.&*-5*&5'3&8+**7&5*&73#,& 4'#5&'3&8*0-,%& V!(&9,:&'(-&0,A-&,96&)'/*&'(-&#@@0)<#'),.&@#<"-'%W&3,:1#.&8,#.-+2& V;($&)*&'(#'&#&4#+&'().1OW& V]-#+&)'&$,6:*-09&>0@).%W&3,:1#.&*#)+2&V7&.--+&',&5#"-&6@&8,:-2W& V^-:$&5-00%W&>0@).&*#)+2&B(6990).1&8*74#7,9&'3&+3#-3,&*=37&5'3&8*7)&#-,&23.#-&5*&73#,S&

!"#$%!"#"$%&'(%)%*+,-'.+"/'0//1",*#"2&'3*,4%#' 5%*+'!"#"$%&'26'#-%'5*78' 0' +%)%*+,-' #+"/' 1%*9%' 266%+)' *&7' *&:' *11' ;%;<%+)' 26' #-%' =214' 26' #-%' 5*7' >"#-' #-%' 2//2+#?&"#7' #2' 6"&:@' :"),29%+@' "&9%&#@' %A*;"&%@' "&#%+/+%#@' B*"&@' )%,?+%@' 2+' "&)#+?,#' C62+' *' 1";"#%:' 6"&*&,"*1'<%&%6"#D'*&'*::"#"2&*1'%:?,*#"2&*1@'"&:?)#+"*1@'1%")?+%17@'+%)":%&#"*1@'6"&*&,"*1@'/-"12)2/-",*1@' ;%#%2+212B",*1@' ;%#-2:212B",*1@' *&:E2+' /-%&2;%&212B",*1' *:9%&#?+%@' #+*"&"&B@' 1"6%' %A/%+"%&,%@' 2+' *1#%+&*#"9%'7%#'F?*&#"#*#%'*;2?&#)'26'%&B*B%;%&#'>"#-'#-%'2?#)":%'>2+1:'#-*#'>"11';*4%E*112>'62+' %*,-';%;<%+'>"#-')?,-'1%*9%'#2'<%,2;%'<%##%+'/+%/*+%:'62+',*++7"&B'2?#'*&7'*&:'*11'26'#-%"+'/%+)2&*1@' /+"9*#%@'"&#";*#%@'/?<1",@'2+',"9",'+%)/2&)"<"1"#7@'*&:'>"11')?//2+#'#-%':%9%12/;%&#'26'#-%'=214'26'#-%' 5*7'"&'#-%"+'2>&')#*#%'26'<%"&B)'*&:'%&:%*92+)@'#-%':%9%12/;%&#'&%%:)'26'9*+"2?)'"&)#"#?#"2&)@'*&:' /1*&&%:'/+"2+"#"%)G'H%'*+%'/1%*)%:'#-*#'72?'*+%':2"&B')2;%#-"&B'C>"#-'#-%'%A,%/#"2&'26'#-%',?++%&#' 52IJ2#-"&B@' K2+B*&' !*+2&' L"&:+"D' *&:' *+%' )%%4"&B' #-")' *;*#%?+' 2+' /+26%))"2&*1' :%9%12/;%&#' 2//2+#?&"#7'#-*#'>"11'<%&%6"#'<2#-'72?'*&:'72?+'6%112>)G' H-"1%'72?'*+%'/1*&&"&B'62+'72?+'#+"/@'>%'%&,2?+*B%'72?'#2'+%;%;<%+'#-*#'2#-%+'*+%*)'26'#-%' >2+1:'62112>'+*:",*117':"66%+%&#'-*<"#)'*&:',?1#?+%)@'"&,1?:"&B'<?#'&2#'1";"#%:'#2'#*4"&B'?/>*+:)'26' %"B-#%%&'2?#'26'#>%&#7I62?+'-2?+)'62+'#-%"+'2>&'/%+)2&*1'1%")?+%'*&:'#2'#*4%'?/'&2'62+;'26'2,,?/*#"2&@' *&:'2&17'2,,*)"2&*117'*'-2<<7G'.-?)@',2&)":%+'>-%#-%+'2+'&2#'72?'>"11'*,#?*117'-*9%'*11'26'#-%'#";%@' +%)2?+,%)@'*&:',22/%+*#"2&'26'#-2)%'>-2'72?'*+%',-22)"&B'#2'1"9%'*;2&B)#G' 31%*)%'6"11'2?#'#-%'62112>"&B')%9%&#7I&"&%'62+;)@'"&'<1?%'"&4@'"&'0&B1",*&',?+)"9%@'*&:'6"1%'"#' *#'#-%'L?<#%++*&%*&'M"<+*+7'>"#-"&'#>2'-2?+)'CNOP';"&?#%)@'QOPP')%,2&:)D'?/2&'+%,%"/#@'<%B"&&"&B' >"#-'*'RPP'>2+:'%))*7'+%)/2&)%'#2'#-%'62112>"&B'6"9%'F?%)#"2&)8' NG'H-*#':2'72?'/1*&'#2'+%)%*+,-S' OG'T2>':2'72?'*&#","/*#%'#-*#'72?+'+%)%*+,-'>"11'<%'62+'#-%'<%)#SS' UG'H-*#'>"11'-%1/'72?'*,,2;/1")-'72?+'+%)%*+,-S' VG'H-*#'")'72?+'#";%#*<1%'C"&';"11")%,2&:)D'62+'6"&")-"&B'72?+'+%)%*+,-S' RG'H-*#':2,?;%&#*#"2&'>"11'<%'/+29":%:'?/2&',2;/1%#"2&'26'+%)%*+,-S' V?)8-&',&1-'&<:#<").1%W&3,:1#.&*#)+&#.+%&1:#44).1&#&406-&@-.%&(-&4-1#.&',&5:)'-2& & & & & &

!!&!!!


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

!!'!!!


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

!!(!!!


TE'3739&$*0&/33?&&>*&3#/$%&&<8&*-+$&<&'#,&)$&.0-9&$*0&4*0+,&.35&#&+*++(;*;&8*7&23(-.&#&.**,&;#5(3-59T& /'3& /#(,%&&TK05& 5'3/3& #73& 4#7& 5()3/& #-,& <& :#--*5& #88*7,& 5'3& +0A07$%&&G373& X& 43& 4(++& '3+;& $*0& 2#:"& (-5*& 5'3& 3-.(-3&7**)%T& T<-5373/5(-.&5'#5&5'3&-(-F#/&,(,&-*5&5#"3&*05&$*09&,*:5*79T&D)$&/#(,&B0(35+$%&&T<&'*;3&I(//&C3#5'372$& #-,&5'3&:#;5#(-&#73&#++&7(.'5%T&& T<8&5'3$U73&-*59&43&-33,&5*&F0);&/'(;&(-&5'3&-3A5&;*759T&1'#7+3/&.70)2+3,%&&TI*73&57*02+3&5'#-&(5U/& 4*75'9&;3*;+3&.355(-.&/)#/'3,&#-,&"-*:"3,&*05%&&K+**,$&-(-F#/%&&K+**,$&*:3#-%&&<U)&-*5&20(+5&8*7&5'(/@T& >+0);3,& 235433-& D)$& #-,& </#23++39& 1'#7+3/& 4#/& ,7#..3,& (-5*& 5'3& 3-.(-3& 7**)%& G3& :+#);3,& #& 8+#/'+(.'5&(-&'(/&5335'&#-,&0/3,&5'3&8(7/5&)#53&#/&#&:705:'9&.#72+(-.&#7*0-,&'(/&)*05'80+&#/&'3&,(/:*=373,&5'3& 3A53-5&*8&5'3&,#)#.3%& TE'3$U73&3+3.#-5&2#/5#7,/9&5'3$&#739T&5'3$&3=3-50#++$&,3:(,3,&'3U,&/#(,%&&T1#-U5&F0/5&:05&#&4(73&*7&3=3-& 7(;& (5& *05& #-,& +3#=3& (5& /;#7"(-.%&&!'& -*%&&E'3$U++& F0/5& 3A57#:5& (5& #-,& )#"3& $*0& ,*025& (5& 4#/& 3=37& 5'373%&&\-8*750-#53+$& 8*7& 5'3)9& <& "-*4& 5'(/& 3-.(-3& 235537& 5'#-& #-$& -(-F#& +(=(-.%&&W*0& '#=3& 5*& .35& 0;& ;7355$& 3#7+$&(-&5'3&)*7-(-.&5*&:*-80/3&1'#7+3/&G#45'*7-3&*-&#&)#5537&*8&)3:'#-(/)%T& T<U)&.+#,&5*&'3#7&*8&$*07&3-5'0/(#/)9T&</#23++3&/#(,9&:70/'3,&#.#(-/5&'()%& T[35&)3&)$&4(732*A9&4*0+,&$*0?T&'3&#/"3,9&4#=(-.&#&'#-,&*05&8*7&5'3&2*A&(-&B03/5(*-%&&D)$&;+#:3,& (5& 4(5'(-& '(/& 73#:'%&&T!'6'*9& )$& 57(:"$& +(55+3& /*-/& *8& 2(5:'3/& X& 3A:0/3& )39& D)$9& 205& ,3/;37#53& 5()3/& X& $*0& 57(:"$&+(55+3&2#/5#7,/9&<&'#=3&.*5&$*07&-0)237%&&W*0&:#--*5&/4(-,+3&)3&*-&#&)#5537&*8&5'(/&:#+(237&XT& G3&,(,&/*)35'(-.&,(/5(-:5+$&)(7#:0+*0/&4(5'&'(/&5**+/&#-,9&4(5'&#&+*4&;0779&5'3&3-.(-3&:#)3&2#:"&5*& +(83%&&&&G3&/)#:"3,&'(/&473-:'&#.#(-/5&5'3&/(,3&*8&#&:*-/*+39&#-,&#&8#(-5&+(55+3&.+*4&3)37.3,%&&& TE'#5&(/&*07&2#5537$%&&C'3-&(5U/&'#+86:'#7.3,9&43&4(++&'#=3&*07&+(.'5/&2#:"%T&&G3&/(.'3,%&&TH*4%&&1#-&<& 23&+#(,&0;&(-&)$&:*5?T& TH*9T&/#(,&</#23++39&5'*0.'&/'3&/'088+3,&'()&*=37&(-5*&#&:'#(7&5'3&,*:5*7&'#,&8*0-,%&&TW*0&-33,&5*& /5#$&'373&#-,&.0#7,&5'3&#;;#7#50/%&&D)$9&.*&0;&87*-5&#-,&/35&0/&5*&7(/(-.&X&5'3&/**-37&43&8(++&0;&*-&#(79&5'3& 235537%T& D)$&-*,,3,&#-,&507-3,&5*&.*%&&>'3&4#/&43++6:*-=(-:3,&5'#5&4'#53=37&/'3&3-:*0-5373,&*-&5'3&4#+"& 5*& 5'3& 27(,.3& 4*0+,& -*5& ,#73& +#$& #& 8(-.37& *-& '37%&&>'3& 4#/& #& 8*7)37& #.3-5& 8*7& G37& I#F3/5$U/& >3:735& >37=(:3%&&C*3&235(,3&5'3&-(-F#&4'*&5'*0.'5&'()/3+8&'37&3B0#+%&&& TD-,&4'#5&#2*05&0/9&O7#0&Z*))#-,#-5?T&#/"3,&L7%&>*+*)*-%& </#23++3&;37)(553,&'37/3+8&#&5'(-&/)(+3%&&TC3U73&.*(-.&'0-5(-.%T& Q& H(-F#& ]^O_& '#,-U5& /(.-3,& 0;& 8*7&5'(/%&&&H(-F#&/:'**+& 4#/& /0;;*/3,& 5*& F0/5&23& /*)3& 5$;3& *8& ;7(=#53& /:'**+9&#&+(55+3&8*7)#+9&/0739&205&8#7&#-,&#4#$&5'3&23/5&3,0:#5(*-&*-3&:*0+,&.35%&&& G3&4#/-U5&3A;3:5(-.&5*&23&8*7:3,&5*&3-:*0-537&E'3)%& E'3$&4373&#-&3+(53&/B0#,9&#-,&'3U,&*-+$&233-&#&80++68+3,.3,&-(-F#&8*7&54*&$3#7/%&&D++&5'3&-(-F#/&5#+"3,& #2*05&E'3)&X&(8&5'373&4#/&*-3&=(:3&#&-(-F#&'#,9&(5&4#/&5'3&53-,3-:$&5*&.*//(;%&&E'3$&4373&5'3&5$;3&*8&5'(-.& -(-F#&.7#-,)*5'37/&5*+,&5'3&-(-F#+35/&#5&-(.'5&5*&/:#73&5'3)&(-5*&23'#=(-.%& D-,&-*4&H(-F#&]^O_&4#/&3A;37(3-:(-.&E'3)&'()/3+8%&

' ' (%;*"&:%+'#2'<%'%&,2?&#%+%:'*#8'-##/8EE"))??G,2;E#-%)>*+;'

!!)!!!


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

!!*!!!


;(#'/*& ).&9:,.'&,9&8-& )*& 8$*-09%& 9:,8&9,6:& $-#:*& #1,2&& ?(-& 4,$& )*& .,'& $-'& #& 8#.2& & K)*& <0,'(-*& #:-& @:)*').-%&#.+&()*&4,.-*&*')00&(#A-&*,8-&8-#'&,.&'(-8%&#.+&1,+&+#8.&)'&(-&+,-*./'&(#A-&#&*<#:&,.&()/&2*,$%&&D& 53#7&8#++/&87*)&)$&8#:3&#/&<&73)3)237&5'#5&"(-,&*8&(--*:3-:3%&&!-+$&#/&<&+**"&#5&'()&<&/5#75&5*&4*-,37&(8&(5& )*./'&)1.,:#.<-2&&K-/*&*8#00-:&'(#.&8-&4$&#&'3#,&#-,&5'373//&2#73+$&#&)0/:+3&*-&'(/&2*,$%&&E'3&+*-.9&F#..3,& *<#:&7&.,5&5-#:&,.&8$&9#<-&)*./'&$-5&*-&'(/%&&<&'#53&(5%&&<5&70-/&5'3&+3-.5'&*8&)$&8#:3&87*)&53);+3&5*&)*05'9& #.+&7/A-&.-A-:&0,,"-+&'(-&*#8-&*).<-2&&7&'()."&)'&8#"-*&8-&0,,"&()+-,6*2&&=6'&).&#.,'(-:&5#$&7&<(-:)*(&'(-& .355(-.&*8&(5%& <& .*5& 5'3& /:#7& 4'3-& *-3& *8& *07& )*/5& 570/53,& #++(3/& 507-3,& *-& 0/& (-& 5'3& )(,,+3& *8& #& 2#55+3%& & !-3& 8,8-.'&5-&5-:-&',1-'(-:&#.+&'(-&.-H'&7&<,60+&,.0$&*--&:-+&#.+&7&5#*&,.&'(-&1:,6.+2&&?(-&5,6.+&+)+./'&'#"-& #/&+*-.&5*&'3#+&87*)&#/&5'3&2357#$#+%&&E'#5&,#$&<&+3#7-3,&;#(-%&&K05&<&#+/*&+3#7-3,&+*$#+5$%&&E'3&/3:*-,&<&83++9&)$& )3-&8*7)3,&0;&#7*0-,&)3&#-,&'3+,&5'3&+(-3%&&>*)3&<&"-34&43++&#-,&*5'37/&<&'#,&2#73+$&)359&205&(-&5'3&3-,& '(-$&#00&*',,+&#.+&40-+&9,:&8-2&&7'&5#*./'&9,:&#.$'().1&8,:-&'(#.&'(-&9#<'&'(#'&)'&5#*&:)1('2&&>-,&<&4#/&235537& 8*7&5'3&;#(-%& 7&*'#:'-+&'().").1&,9&,'(-:&'().1*&7/+&*--.&).&'(-&5#:2&&?(-&+#$&7&.-#:0$&4:,"-&8$&0-1&,.&'(,*-&5-'& 7*:"/&4#/&4'3-&<&+3#7-3,&'*4&5*&"33;&)$&8**5(-.%&&E'3&-(.'5&4'3-&<&/5#$3,&0;&4(5'&*-3&*8&)$&)3-9&'*+,(-.& '(/&'#-,&#/&'(/&4*0-,/&5**"&'(/&+(839&(5&/5#753,&#&;#(-&5'#5&<&4(++&-3=37&73:*=37&87*)%&&K05&(5&#+/*&5#0.'5&)3& (,5&@:-<),6*&0)9-&)*2&&K-00%&,A-:&'(-&$-#:*&-A-:$'().1&7/A-&1)A-.%&-A-:$'().1&7/A-&*#<:)9)<-+C'(-$/A-&#00&4--.&*,& <&:*0+,&23:*)3&/*)35'(-.&235537&23:#0/3&*8&(5%&&E'(/&/)(+(-.9&$*0-.&5'(-.&(-&87*-5&*8&)3&5'#5&<&0/3,&5*&23?&&<& +,./'&5#.'&',&4-&()82&&D,'().1&)*&)8@,:'#.'&',&()82&&K-/*&.-A-:&0,*'%&*,&(-&+,-*./'&".,5&5(#'&(-&(#*2&&K-/*& .-A-:&4--.&#9:#)+%&*,&(-&+,-*./'&".,5&(,5&86<(&(-&(#*&',&0)A-&9,:2&&7/8&.,'&()8&#.$8,:-2&&>.+&7/8&4-''-:& 8*7&(5%& 7&0-'&,6'&#&*8)0-&#*&7&0-#A-&()8&4-().+%&#.+&(-#+&).',&'(-&3#52&&;(#'-A-:&(#@@-.*&.-H'%&)'/*&1,).1&',& 23&(-5373/5(-.%& & & & & & & & & & & & & & & & & & & &

!!"+!!!


&

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`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

!!""!!!


V>0$*,.%W&*(-&*#)+%&VJ0-#*-+&',&8#"-&$,6:&#<[6#).'#.<-2W& V7&*-:),6*0$&+,64'&'(#'2&?(,8#*%&86<(&#*&7&5,60+&0,A-&',&4-0)-A-&'(#'&#00&$,6&5#.'-+&5#/&5*&*;3-& $,6:&(-#:'&',&8-&#&0)''0-%&7&".,5&'(-&,.0$&:-#*,.&$,6/+&-A-:&<,8-&',&8$&<(#84-:*2&;(#'&+,&$,6&".,5&#4,6'& $,6:&<:)8).#0OW&& `0(:"+$9&<&3A;+#(-3,&#2*05&5'3&73:3-5&"(++(-.&/;733&#-,&5'3&;'(+*/*;'(:#+&87#.)3-5/&+385&-3A5&5*&5'3& =(:5()/%&<&:*0+,&53++&5'#5&'3&4#/9&5*&/*)3&3A53-59&.3-0(-3+$&(-5373/53,&(-&4'#5&<&4#/&3A;+#(-(-.%&<8&5'373&4#/& *-3&5'(-.&<&'#,&-3=37&4#-53,&5*&/33&(-&)$&+(839&(5&4#/&5'3&8#:3&*8&#&O07$%&K05&(8&<&4#/&#++*43,&54*9&(5&4*0+,&23& '(/&8#:3&4'3-&'3&4#/&(-5373/53,&(-&/*)35'(-.%&D5&+3-.5'9&205&4(5'*05&273#,5'9&<&:*-:+0,3,%& VB,%W&7&*#)+%&9).#00$2&V;(#'&+,&$,6&*#$O&N#.&$,6&(-0@OW&& K-&'(,61('%&'(-.&0,,"-+&8-2&V!9&<,6:*-2&=6'&$,6&*(,60+&".,5&,.-&'().1&4-9,:-&#00&,'(-:*2W& V;(#'OW&& VD,'().1& 1,-*& ',& .,'().1& #.+& .,'().1& <,8-*& 9:,8& .,'().12& 7.& ,'(37& 4*7,/9& $*0& #-/437& )$& [6-*'),.*%&7/00&#.*5-:&$,6:*2&?)'&9,:&'#'2W& V><<-@'#40-2&>*"&#5#$2W&& V7*&'()*&(,5&<,.A-:*#'),.*&4-'5--.&'(-&'5,&,9&$,6&#05#$*&1,OW&>0$*,.&#*"-+2&& V;-/:-&.,'&-H#<'0$&#*&<0,*-&#*&'(-&M#'(-:&#.+&'(-&B,.2W& K#:A-$&0-#.-+&9,:5#:+2&V;($&+,&$,6&+,&5(#'&$,6&+,O&;($&+,&$,6&9)1('&9,:&'(-&0#5OW& VE#5&4-0,.1*&',&'(#'&5()<(&)*&#&@:).<)@0-&,9&(68#.&#<'*%&4-<#6*-&)'&)*&'(-):&:60-&#.+&8-#*6:-2&?(-& 8(7/5&;7(-:(;+3&(-&;7#:5(:#+&)#5537/9&4'(:'&#73&5'3&*2F3:5&*8&;7#:5(:#+&73#/*-9&(/&5'3&+#/5&3-,S&#-,&5'3&+#/5&3-,&*8& '0)#-&+(83&(/&'#;;(-3//&*7&23#5(50,3%&1*-/3B03-5+$9&+#4&)0/5&-33,/&:*-:37-&(5/3+8&)#(-+$&4(5'&5'3&*7,37&5'#5& )*&).&4-#')'6+-2W& V7&*(,60+&(#A-&".,5.&'(#'&$,6&5,60+&@)<"&'(-&-#*$&#.*5-:&',&'(-&[6-*'),.2W& V3$&'6:.2&K,5&86<(&<#.&$,6&'-00&8-&9:,8&'(-&).9,:8#'),.&7/A-&1)A-.&$,6OW& V7&<#.&8#"-&#&9-5&-+6<#'-+&16-**-*&5)'(,6'&9#)0).1&',&:)1('0$&<,.+6<'&8$&:-#*,.2&7&<,60+&@:,4#40$& 53++&$*0&4'$&'3&,*3/&4'#5&'3&,*3/%&<&)(.'5&3=3-&23&#2+3&5*&.(=3&$*0&*-3&*7&54*&:+03/&#/&5*&4'373&$*0&/'*0+,& +**"&8*7&'()%&D++&(.&#00%&7&'()."&7&8)1('&(#A-&#&4-#'&,.&()82W& VL,6:&'6:.2W& V?(#."&$,62&K,5&+,-*&)'&9--0&',&4-&#08,*'&,4*,0-'-OW& V;(#'/*&'(#'&*6@@,*-+&',&8-#.OW& VL,6/:-&*6@@,*-+&',&#.*5-:&8$&[6-*'),.&4-9,:-&$,6&#*"&,.-&,9&$,6:&,5.%W&(-&*#)+%&0#61().12&V=6'& 5'#-"/&8*7&5'7*4(-1&8-&*6<(&#.&-#*$&,.-2&7&<#./'&@:,8)*-&$,6&'(-&*#8-&<,6:'-*$2W& VS.).'-.'),.#0&[6-*'),.*&+,&.,'&<,6.'FW&7&*.#@@-+2& VZ)+&5-&-A-:&*#$&'(#'&'(-$&+)+./'OW& VD,2&?(#."*&9,:&#*").1%&'(,61(2&D,5%&0-'/*&+,&$,6:&[6-*'),.&4-9,:-&)'/*&8$&'6:.&#1#).2W& G3&/-#7+3,&/+(.'5+$%& V7/8&*'#:').1&',&9--0&0)"-&#&'():+&5(--0&(-:-%W&*(-&*#)+2&V7&'()."&7/8&1,).1&',&*'-@&,6'2W& >'3& /5#753,& 5*& 4#+"& 5*4#7,/& 5'3& ,**79& 205& #/& /'3& 4#/& '#+84#$& 235433-& 23(-.& '#+84#$& 5'373& #-,& #::)A).1%& K#:A-$& *@,"-2& VZ,./'& 0-#A-%& >0$*,.2& L,6/:-& '(-& )8@0)-+& 0,A-& ).'-:-*'2& L,6/:-& T6*'& #*& )8@,:'#.'& #*& #.$,.-&(-:-2W& B(-&0,,"-+&#'&()8%&@6PP0-+2&VB,::$OW& V7/00&<0#:)9$&8$&[6-*'),.&#&0)''0-%W&K#:A-$&<,.').6-+2&VD,'&0,.1&9:,8&.,5%&'(-&5:)'-:&,9&'()*&*',:$&)*& 1,).1&',&1:#+6#'-&9:,8&B'2&\,(./*&N,00-1-2&K-/*&.*(-.&5*&.*&'(/&4#$9&/*)34'373&(-&5'(/&4(,3&4*7+,&*8&*07/%&

!!"#!!!


N-:'#).0$%&(-/00&*'#$&).&<,.'#<'&5)'(&*,8-&,9&'(-&@-,@0-&#:,6.+&(-:-2&=6'&9,:&'(-&8,*'&@#:'%&'(-&.-H'&')8-&(-& 7#(/3/&;3-9&'3&4(++&-*&+*-.37&23&(-&#-&#5)*/;'373&4'373&5'3&738373-:3/&5'#5&)#"3&0;&5'3/3&/5*7(3/&4*0+,&23& (-53++(.(2+3&'0)*7%&W*09&E'*)#/9&#73&5'3&+#/5&5'7#/'3/&*8&#&)#-&57$(-.&5*&'*+,&*-&5*&5'3&:0+5073&*8&4'#5&)#$& 4-&'(-&0#*'&@0#<-&(-/00&-A-:&4-&#'&(,8-&).2&B,&7/00&#*"&#1#).2&K,5&+,-*&)'&9--0&',&4-&#08,*'&,4*,0-'-OW& V?(-:-&86*'&4-&*,8-'()..&(-&5'3&32%#",)'#2*05&5'(/&"(-,&*8&/3+86:-9-:-.<-%W&7&*#)+2& V7/8&#&+,<',:%&.,'&#.&>:)*','-0)#.2W& 7& *'#:-+& #'& ;)00)#8& K#:A-$/*& <,0+& 9#<-& '(#'& #08,*'& *--8-+& ',& 4-& -<(,).1& ()*& 5,:+*2& >9'-:& #& 9-5& )*)3-5/9&<&/5**,&0;%& VE-'/*&1,%&>0$*,.2W& V=6'&+)+./'&5-&<,8-&',&0-#:.&#4,6'&'(-&")00-:OW& V?(-&*',:$/*&1,).1&',&-.+&4-9,:-&5-&#<'6#00$&<#'<(&()8&#.$5#$2&;($&4,'(-:&<,00-<').1&'(-&<06-*OW& <&/5**,&0;&#-,&4#+"3,&*05&*8&5'3&7**)9&;*-,37(-.%&D+$/*-&8*++*43,&#8537&)3%& V7'&<#.&-.+&,.&#&<0)99(#.1-:%W&*(-&*#)+2&V?(-&0#*'&,.-&+)+2W&& VL-#(%&46'&'(#'&5#*&',&8#"-&#&J0,').6*&@6.2&?()*&)*&':$).1&',&+,&*,8-&+--@&*()'&#4,6'&1:#+6#').1&,:& 5(#'-A-:2&K#:A-$/*&:)1('2&7/8&,6'+#'-+2W& B(-&*6++-.0$&*@-+&6@&#.+&*',,+&).&9:,.'&,9&8-2&V!"#$%&8#$4-&$,6&#:-2&?,&'(-&#6'(,:&#'&0-#*'2&=6'&*,& 4'#5?&C'$&+,-*&'(#'&4,'(-:&$,6O&L,6&<#.&*')00&4-&.,*'#01)<2W& VL-#(2&D,*'#01)#2&?(#'/*&#4,6'&#*&6*-960&#*&.#'6:#0&:-#*,.&',&+-8,.*':#').1&'(-&A#0)+)'$&,9&*<:)@'6:#0& *<)-.<-2W& V!"#$%&9).-2&Z,./'&4-&.,*'#01)<2&=-&#&+)99-:-.'&").+&,9&8-'#@(,:2W& V;(#'&").+&,9&8-'#@(,:OW& V>&8-'#@(,:&9,:&@:,1:-**).1&9,:5#:+&).&':)68@(&#9'-:&B'2&\,(./*2&M,:&'#").1&#00&,9&'(-&-0)')*8&,9&B'2& \,(./*&#.+&#@@0$).1&)'&',&'(-&,6'*)+-&5,:0+&#.+&+,).1&*,8-'().1&':60$&5,:'(5()0-2&>&8-'#@(,:&9,:&-A-:$'().1& 5'#5&#&;37/*-&4#-5/&5*&,*&4(5'&5'(/&3,0:#5(*-%W& V;(#'&#4,6'&'(-&9:#18-.'&")00-:OW& V?(-&[6-*'&9,:&()8&<#.&4-&#&8-'#@(,:&9,:&'(-&8$*'-:$&,9&5(#'&5)00&(#@@-.&).&'(-&).9).)'-0$&4:,#+& ,6'*)+-&5,:0+2&!:&*,8-'().12&E,,"%&7/8&8,*'0$&8#").1&'()*&6@&#*&7&1,2W& <& 5'*0.'5& #2*05& 5'(/%& D-,& 5'3-9& <& .7#223,& '37& '#-,9& #-,& 5*.35'37& 5'3& 54*& *8& 0/& 7#-9& =37$& )35#;'*7(:#++$9&*05&*8&5'3&/$)2*+(:&'*/;(5#+&#-,&(-5*&5'3&73;73/3-5#5(=3&4*7+,&*05/(,3%& ;-&0-9'&*,&9#*'&5-&+)+./'&-A-.&(#=3&5()3&8*7&#&80--$&;0-:'+(-3%&

!!"$!!!


Issue 7