__MAIN_TEXT__
feature-image

Page 1

ϮϬϭϴͬϮϬϭϵ ,1'+2/' 6.2/(c5(7-%(67<5(/6(1-c5(76 %(*,9(1+('(5-1<1$785)$*6%<*1,1*-)5$ 6.857,/)('7)<6,./2.$/(-9$1'5(:((.(1'- $))$/'6,1'6$0/,1*-%(6‘*3c)//(6+c%6 6.2/(1-*<01$67,..(1-8''$11(/6(6'$*(1 6/(77(1-6.,/(-56.2/(-72<6725< *<0-&5$:/-(8'-./$5-*$//$-6791(5 635..(%-(5*-/$1:((.(1'-‘-(%/,..( 6<'6/(69,*6.((/(9(5-)2'%2/'02' 95,*67('%<-(/(9(5-




6.2/(c5(7- IRUYHQWQLQJVIXOGHHIWHUVNROHHOHYHUIO\WWHGHLQGG DXJXVW (OHYHURJSHUVRQDOHYDUNODUWLOHWHIWHUVNROHnULI OOHV VNDEHWVnQG %\JJHULHWYDULIXOGJDQJGDYLVWDUWHGHVNROHnUHW1X NXQQHYLW\GHOLJWVHKYRUIORWE\JQLQJHQYLOOHEOLYH(Q KHOWQ\XQGHUYLVQLQJVE\JQLQJEOHYWDJHWLEUXJLQRYHP EHU,QGWLOQRYHPEHUNODUHGHYLRVPHGGHQJDPOHED UDNLQRJOHPHJHWULQJHORNDOHU%DUDNNHQYDUKHOWVOLGW QHG %\JQLQJHQHUVPXNRJLQGHKROGHUVHNVIDQWDVWLVNHXQ GHUYLVQLQJVORNDOHUWLOQDWXUIDJRJKXPDQLVWLVNHIDJ9L KDUPRGWDJHWHWVWRUWEHO¡EPLOOLRQHUNUWLOLQGUHWQLQJDIQDWXUIDJVORNDOHU QHIUD$30¡OOHUV)RQG'HUIRUVWnUORNDOHUQHQXPHGKHOWPRGHUQHXGVW\U VWRUHRJO\VHRJWRSPRGHUQH ,GHWIMHUQHVWHDIVNROHQVJUXQGKDUYLInHWILUHIORWWHQ\HVKHOWHUVRJHQEnO SODGVGHUNDQEUXJHVDIIDJHWRXWGRRURJLZHHNHQGHU9LKDUPRGWDJHW NUDI)ULOXIWVUnGHWWLOVKHOWHUV'HWJLYHUPXOLJKHGIRUJRGHRSOHYHOVHU XGHQIRURJLQ UKHGHQDIHIWHUVNROHQ 6NROHnUHWKDUEXGWSnPDQJHRSOHYHOVHUXGDIKXVHW /LQMHIDJVWXUH.DQRWXUPHG2XWGRRUWHDWHUEHV¡JRJJDGHRSWU GHQPHG 3HUIRUPDQFH(-VSRUWVZHHNHQGVSRUWVRSOHYHOVHUL*RULOODSDUNSnPLOLW U WU QLQJVEDQHNXQVWPXVHXPVEHV¡JPHG+nQGY UNRJ'HVLJQ0DQJHWD OHQWHUEOLYHUXGIROGHWGHUILQGHVLQVSLUDWLRQRJSU¡YHWPDVVHUDIQ\HWLQJ cUHWVVNLOHMUVNROHJLNWLOGHWGHMOLJHRPUnGH+XQGIMkOOHWHWVWHGYLKDUEHV¡JW PDQJHJDQJH'HMOLJHRSOHYHOVHUJRGHK\WWHUPDVVHUDIVQHRJVNLVSRUW 0XVLFDOSURMHNWHWLnUYDU7R\6WRU\(IWHUVNROHQEOHYRPGDQQHWWLOHQVWRUOH JHW¡MVEXWLNHOHYHUVSLOOHGHGHNHQGWHILJXUHUPDVVHUDIJ VWHUVnIRUHVWLOOLQ JHQ)ORWVDWRSIDQWDVWLVNHNXOLVVHURJUHNYLVLWWHUVRPEOHYSURGXFHUHWKHU DIHOHYHURJO UHUH+DOOHQEOHYLJHQRPGDQQHWWLOHQN PSHVWRUWHDWHUVDO (OHYHUIUD6NROHQL0LGWHQ%UnVNRYJnUG(IWHUVNROHRJ.UDJHOXQG(IWHUVNROH YDUSnEHV¡JHQKHOGHOJDPOHHOHYHURJPDVVHUDIIRU OGUHRJV¡VNHQGH 'HWJLYHUHQPDVVHHQHUJLDWNXQQHYLVHGHQIORWWHRSV WQLQJIUHP(OHYHU RJO UHUHHUVWROWHRJLJHQLnUYDUGHWHQYLUNHOLJIORWWHDWHURSOHYHOVH 'HWHUQXGDJOLJGDJHQGHUEHW\GHUPHVW'HWHUSnVNROHQEnQGHQHPHOOHP PHQQHVNHUNQ\WWHVGHWHUKHUYLOHYHURJERU)RUG\EHOVHQLIDJHQHRJRSOH YHOVHQDIDWO UHPHUHJLYHUGHWIDJOLJHO¡IWRJO\VWHQWLODWIRUWV WWHPHGXG




GDQQHOVH/LQMHIDJHQHKYRUHOHYHUQHNDQG\UNHLQWHUHVVHUQHRJGHQIULHWLG KYRUYLHUVDPPHQRPHIWHUVNROHOLYHW9 UHOVHUQHJ¡UHVSHUVRQOLJHPHG S\QWRJELOOHGHUPnOWLGHUQHLKLQDQGHQVVHOVNDE *\PQDVWLNKDUY UHWHWVWRUWIDJLGHWWHVNROHnU0DQJHWLPHUHUJnHWPHGDW ¡YHOHJHJULQHGDQVHRJUHVXOWDWHWHUIORW(QIDQWDVWLVNRSYLVQLQJPHG HQHUJLVSULQJU\WPLVNHVHULHU'HUKDUY UHWPDQJHRSYLVQLQJHUHQXGHQ G¡UVRSYLVQLQJSn5RKGHQ*RGVSnJUXQGORYVGDJYDUXWUROLJVWHPQLQJVIXOG 'DJOLJGDJHQSnHIWHUVNROHQHUNHUQHQLHIWHUVNROHRSKROGHW6NROHGDJHQPHG IDJHQHPnOWLGHUQHNDPPHUDWVNDEHWRJVDPY UHWLIDJHQHRJSnY UHOVHU QH'HWHULKYHUGDJHQDWI OOHVVNDEHWQ\GHV$OOHVNROHQVRPUnGHUEUXJHVL IULWLGHQLVSLVHVDOHQNDQPDQVSLOOHVSLORJVQDNNH 3nOLQMHIDJVKROGHQHG\UNHVLQWHUHVVHUQH2XWGRRUKROGHWXGIRUGUHUVLJVHOYSn PRXQWDLQELNHYDQGUHWXUHPHGEnOPDGRJYLQWHUEDGQLQJ 6SRUWVOLQMHQEUXJHUVNROHQVIDFLOLWHWHURJWDJHUXGDIKXVHWWLOVSULQJVS Q GHQGHVSRUWVEHJLYHQKHGHURJPDQJHVW YQHU'HVLJQKROGHWKDUVHWSn NXQVWRJODYHWNXQVW2JSHUIRUPDQFHOLQMHQODYHUWHDWHURSJDYHURJKDUY UHW HQVWRUGULYNUDIWLPXVLFDOHQ (-VSRUWJDPHUQHVUXPIRUVSLORJVWUDWHJLVNSODQO JQLQJ+ROGHWKDUInHWHW IORWORNDOHPHGSODGVWLOVWRUHVN UPHWDVWDWXUHURJJRGHVWROH'HUG\VWHV LQGE\UGHVSnKROGHWL&RXQWHU6WULNHRJ/2/RJRJVnPHGKROGIUDDQGUH VNROHURJNOXEEHUL'DQPDUNGHGHOWDJHULDUUDQJHPHQWHUXGHQIRUKXVHW (OHYHUIUD6\GVOHVYLJELGUDJHUWLOYRUHVIRUVWnHOVHDIYHUGHQ,GHWWHVNROHnU KDUYLHOHYHUIUD6\GVOHVYLJRJYLKDUKDIWEHV¡JDIHQJUXSSHVRPSU¡YHGH HIWHUVNROHOLYHWLWRXJHUVRPSUDNWLNDQWHU'HUHUIOHUHRJIOHUHHOHYHUGHU Y OJHUW\VNLNODVVHRJYLKDUULJWLJPHJHWJO GHDIGHW\VNWDOHQGHHOH YHUVRPNDQIRUW OOHRP7\VNODQGRJKM OSHPHGDWInEUXJWVSURJHW 9LKDUY UHWSnPDQJHJRGHWXUHRSVWDUWVWXUHQWLO6OHWWHQKYRUIRUPnOHWPHG WXUHQHUDWO UHKLQDQGHQDWNHQGHLNRQWDNWJUXSSHUQHRJKHOHHOHYKROGHW *DOODIHVWLGHWILQHVWHW¡MYDUHQIORWRSOHYHOVHDIVOXWWHWPHGIORWI\UY UNHUL VKRZ'HUWDJHVPDQJHELOOHGHURJDOOHELGUDJHUWLODWIHVWHQEOLYHUWLOQRJHW KHOWV UOLJW(OHYHUQHGDQVHU/HV/DQFLHUVPHGVWRUDOYRUHIWHUGHQIRUQHP PHPLGGDJ ,O¡EHWDIVNROHnUHWKDUYLKDIWEHV¡JDIEDQGVPHGJRGHNRQFHUWHUY UHW XGHDIKXVHWWLODUUDQJHPHQWHUJHQQHPI¡UWNXUVHUKHUIRUO UHUHIUDDQGUH VNROHURJIDPLOLHU /LJHQXHUGHUSU¡YHURJHNVDPLQHU'HQ\HNUDYRPNDUDNWHUHUVRPRSWDJHO VHVNUDYWLOXQJGRPVXGGDQQHOVHUQHXGV WWHUHOHYHUQHIRUHWVWRUWSUHV $OOHJ¡UGHUHVEHGVWHWLOSU¡YHUQHO UHUQHYHMOHGHURJVW¡WWHURJSU¡YHUQH JHQQHPI¡UHV 'HUHUIRNXVSnNUDYRJNDUDNWHUHURJYLUXVWHUHOHYHUQHWLOGHNRPPHQGH XGGDQQHOVHUSnEHGVWHPnGH'HWNU YHUVWRULQGOHYHOVHRJWnOPRGLJKHG KRVO UHUHRJHOHYHU6DPIXQGHWVNUDYHUYLUNHOLJKHGHQVHOYLNODVVHKYRU HOHYHUQHVNDOYXUGHUHVLXGGDQQHOVHVSDUDWKHGâ&#x20AC;&#x201C;OLJHVRPGHWJ OGHUIRUHOH




YHULRJNODVVH 9RUHVNODVVHKDUPXOLJKHGIRUDWP¡GHPLOM¡HWSnXQJGRPVXGGDQQHOVHU QHLEURE\JQLQJRJYRUHVWLOEXGRPXGYLGHWEURE\JQLQJWLOJ\PQDVLDOHXQJ GRPVXGGDQQHOVHURJHWIRUO¡ESnHUKYHUYVXGGDQQHOVH(OHYHUQHPHOGHUWLO EDJHDWGHWJLYHUPRGWLODWNRPPHLJDQJRJHQJRGDINODULQJWLOXGGDQQHO VHVYDOJHWHIWHUNODVVH NODVVHDIVOXWWHVPHGSU¡YHUGHUHUPDQJHIDJKYRUGHUVNDOIRUEHUHGHV V\QRSVHURXWOLQHVRJ¡YHVNODVVHKDUVDPPHQK QJHQGHIDJOLJHIRUO¡EL PDMRJMXQLRJKHUODYHVRJVnHYDOXHULQJVSU¡YHU )RUnUHWV*O(OHYGDJYDUHWJO GHOLJWP¡GHPHGGHN UHJDPOHHOHYHU(Q GHMOLJGDJPHGJHQV\QVJO GHRJJRGHVQDNNH'HWYDUHQVWRUJO GHDW P¡GHEnGHRJVnJDUnUVMXELODUHU9LVHUDOOHUHGHIUHPWLOQ VWH nU 9HGnUHWVJHQHUDOIRUVDPOLQJILNYLHQWLGOLJHUHHOHYPHGLHIWHUVNROHQVEHVW\ UHOVH(PPD6RILHHUW WSnXGGDQQHOVHVPLOM¡HUQHRJYLJO GHURVWLOVDP DUEHMGHWLGHQQ\HEHVW\UHOVH 3nYRUHVKMHPPHVLGHNDQ,VHKYRUQnUYLKDUDUUDQJHPHQWHU,NDQPHOGH MHULQGLVNROHNUHGVHQOLJHVRP,NDQI¡OJHRVSn)DFHERRNRJ,QVWDJUDP 7DNWLODOOHIRUHWJRGWVNROHnU $OOH¡QVNHVHQJRGVRPPHU .LUVWHQ:HLOH




%(67<5(/6(1 2OH)OHPPLQJ/\VHIRUPDQG $NVHO1LHOVHQV9HM6WRXE\WOI 9LEHNH+MRUWKQ VWIRUPDQG +ROWHJnUGVYHM)UHGHULFLDWOI %HQWH)UDQGVHQ 1RUGE\JDDUGYHM'DXJnUGWOI .LUVWHQ/DXULWVHQ 7¡QEDOOHYHM-XHOVPLQGHWOI +HQQLQJ&KULVWLDQVHQ .\VWKDYHQ-XHOVPLQGHWOI (PPD-6RILH)DXV¡-HQVHQ %DNNHQGUXSYHM*¡UOHYWOI 3HWHU/0$QGHUVHQ %DNNHVYLQJHW%DUULWWOI .LUVWHQ:HLOHIRUVWDQGHU (PLO%RMVHQVJDGH+RUVHQVWOI

9ULJVWHG(IWHUVNROH2YHUYHM9ULJVWHG6WRXE\ 7OI (-PDLONRQWRUHW#YULJVWHG-HIWHUVNROHGN )D[ +MHPPHVLGHZZZYULJVWHG-HIWHUVNROHGN






c5(76%(*,9(1+('(5

DXJXVW

6NROHVWDUW

-DXJXVW

,QWURGDJH

DXJXVW

%HULQJVVWDIHW

-DXJXVW

6OHWWHQ

VHSWHPEHU

)RGEROGVWÂ YQHL+RUVHQV

VHSWHPEHU

)RUÂ OGUHGDJPHGZRUNVKRSWULYVHOVVDPDOHU

VHSWHPEHU

.RQFHUW5R[\-XOHV

-VHSWHPEHU

/LQMHGDJH

VHSWHPEHU

2UGEOLQGHO¡EHW

VHSWHPEHU

(IWHUVNROHUQHV'DJ

RNWREHU

NODVVHQDWXUIDJVGDJ(FRSDUNcUKXV

QRYHPEHU

%DVNHW(-VSRUW$GYHQWXUH-VWÂ YQH

QRYHPEHU

.RQFHUW-Â UY

QRYHPEHU

9LWXV%HULQJ6WDIHW

QRYHPEHU

0XVLFDOSn9DQGHO(IWHUVNROH

-QRYHPEHU

IDJGDJH262

QRYHPEHU

%DGPLQWRQVWÂ YQH

GHFHPEHU

,QGHIROGEROGVWÂ YQH

GHFHPEHU

7HDWHU6DYRV

GHFHPEHU

*\PQDVWLNHIWHUPLGGDJ

GHFHPEHU

-XOHYÂ UNVWHGHIWHUPLGGDJ

GHFHPEHU

-XOHIRUEHUHGHOVHU

GHFHPEHU

-XOHP¡GHPHGIRU OGUH

MDQXDU

(IWHUVNROHUQHV$IWHQ

MDQXDU

*DOODDIWHQ 


MDQXDU

.RQFHUW0DPEHRJ'DQRFKLODQJR

-MDQXDU

6NLOHMUVNROHL6YHULJH

IHEUXDU

)RU OGUHGDJXGGDQQHOVH

IHEUXDU

*\PQDVWLNGDJ

IHEUXDU

9ROOH\ERUGWHQQLVSDUNRXU-VW YQH

PDUWV

%DVNHWVW YQH

-PDUWV

0XVLFDO

PDUWV

*\PQDVWLNGDJ

PDUWV

NODVVHLQWURXJH

PDUWV

)RWRJUDIRJIDVWHODYQVIHVW

DSULO

*\PQDVWLNVW YQH+RUVHQV

DSULO

0LQLJ\PQDVWLNVW YQH

DSULO

6Y¡PPH-WULDWORQVW YQH0LGWM\VN

-DSULO

7HUPLQVSU¡YHU

DSULO

+nQGEROGVW YQH

DSULO

1\HHOHYHUVDIWHQ

-PDM

/LQMHGDJH

PDM

*OHOHYGDJ

-PDM

6NULIWOLJHSU¡YHU

PDM

9HUGHQVKROGHWL)RUXP+RUVHQV

PDM

,QGYLHOVHDIVKHOWHUSODGV

PDM

9HMOHVW YQH

PDM

)DPLOLHGDJ

PDM

.UDJHOXQGO¡EHW

-MXQL

0XQGWOLJHSU¡YHU

MXQL

*\PQDVWLNRSYLVQLQJSn5RKGHQ*RGV

MXQL

)RGEROGNDPSPRG9ULJVWHGE\

MXQL

,QGYLHOVHDIQ\QDXUIDJVE\JQLQJ

MXQL

) OOHVDUUDQJHPHQW5REXVW%RUJHU

-MXQL

$IVOXWQLQJVXJHRJDIVOXWQLQJ 


1<1$785)$*6%<*1,1*

'HQMXQLKROGWYLRIILFLHOLQGYLHOVHDIYRUHVQ\HXQGHUYLVQLQJVE\JQLQJPHG QDWXUIDJVORNDOHU




1<(6+(/7(56

'HQPDMKROGWYLRIILFLHOLQGYLHOVHDIYRUHVQ\HVKHOWHUSODGVVRPHUVWยกW WHWDIPLGOHUIUD)ULOXIWVUnGHW9LHUVLNUHSnDWSODGVHQEOLYHUUDPPHRP PDQJHJRGHRSOHYHOVHU




)5$6.857,/)('7)<6,./2.$/(

9LHOHYHUSn9ULJVWHGKDUInHWHWVXSHUIHGWI\VLNORNDOHLIRUKROGWLOKYDGYL VWDUWHGHnUHWPHG 9RUHVNODVVHORNDOHYDUHWVNXUKYRUYLEOHYYnGHKYLVGHWUHJQHGHGDWDJHW YDUXW W9LKDYGHLNNHGHQEHGVWHSODGVWLODWNXQQHODYHDOOHIRUV¡JHOOHUGH EHGVWHPXOLJKHGHU)RUHNVHPSHOKDUYLLNNHNXQQHWDUEHMGHPHGLOGGDVNX UHWYDUVnVPnWDWPDQYLOOHNXQQHNRPPHWLODWEU QGHGHWQHG 0HQQXKDUYLInHWHWQ\WORNDOHVRPHUVXSHUIHGWVXSHUVWRUWRJKDUPDQJH IHGHIDFLOLWHWHUVRPPDQNDQEUXJHLDOOHGHQDWXUIDJOLJHIDJRJPDWHPDWLN KYLVPDQILQGHUPXOLJKHGHQWLOGHW,V UQXKYRUYLWLOVRPPHUVNDOWLOQDWXU IDJVHNVDPHQEOLYHUGHWGHMOLJWDWORNDOHWLNNHV WWHUHQVWRSSHUIRUKYLONH IRUV¡JPDQNDQODYH -HQVRJ9LNWRU2




9$1'5(:((.(1' 9LYDULHQZHHNHQG SnYDQGUHWXU+HU KDYGHYLVHOYDOYR UHVRSSDNQLQJ9L VNXOOHQXNODUHRV VHOYLKHOHZHHNHQ GHQPHGGHWYLKDY GHSnU\JJHQ 9LVWDUWHGHPHGDW N¡UHLEXVWLO/XQG YHG+RUVHQVRJJLN GHUHIWHUSnGHQJDP OHWRJEDQHPHOOHP +RUVHQV-6LONHERUJ )UHGDJJLNYLFD NLORPHWHURJHQGWH YHGPLGQDWVWLGYHG HQVKHOWHUSODGVRP NULQJ%U GVWUXS+HU JLNYLKXUWLJWWLOURVn YLNXQQHInKYLOHW 'DJHQHIWHUODYHGHYL KDYUHJU¡GSnWUDQ JLDK\JJHGHRVPHG HWVSLOSO¡NRJSDNNH GHYRUHVOHMUQHG LJHQ 9LKDYGHHQGQXFD

NPIRUDQRVLQGHQYLYLOOHNRPPHWLOQ VWHSODGV 9LDQNRPRPHIWHUPLGGDJHQWLO9UDGV6WKYRUGHUYDUHQGQXHQVKHOWHUSODGV +HUVWLOOHGHYLYRUHVXGVW\URJJLNQHGWLOHQILVNHV¡VnYLNXQQHIDQJHDIWHQV PDGHQ9LIDQJHGHQRNILVNWLODWYLDOOHNXQQHInQRJHWRJVnJLNYLWLOEDJH PRGVKHOWHUSODGVHQ9LK\JJHGHRPEnOHWRJODYHGHPDG9LVRYHQGQXHQ JDQJLVKHOWHURJGDJHQHIWHUEOHYYLKHQWHWDIEXVVHQVnYLNXQQHNRPPH KMHPWLOVNROHQ(QULJWLJIHGWXUKYRUYLSnWURGVDIIURVWJUDGHURJWXQJHU\J V NNHNRPKMHPPHGDUPHQHRSSHRYHUKRYHGHW)RUGLGHWKDYGHY UHWVn IHGW :HHNHQGKROGHW




$))$/'6,1'6$0/,1*

'HWYDUHQYLUNHOLJK\JJHOLJRJVMRYZHHNHQG9LYDUNXQ-HOHYHUHOOHU GHURPNULQJ9LKDYGHInHWDWYLGHDWYLVNXOOHXGRJVDPOHVNUDOGIRUGLDWGHW YDULQWHUQDWLRQDOVNUDOGHGDJVnDOOHHOHYHUQHVNXOOHJnNPQHGWLO+RUQV\OG PHGYRUHVO UHUIRUDWVDPOHVNUDOG'DYLNRPGHUQHGILNYLLVDIO UHUQH 2JVnGHUQHGHLE\HQRJSnYHMKMHPVDPOHGHYLVNUDOG9LQnHGHDWInVDPOHW VWRUHVRUWHVNUDOGHSRVHUPHGVNUDOGI¡UYLNRPQHGSnVNROHQLJHQLPHQV DWYLK¡UWHPXVLNPHGGHK¡MWDOHUHYLKDYGHWDJHWPHG0HQLGHWKHOHWDJHW YDUGHWEDUHHQULJWLJK\JJHOLJZHHNHQGIRUGLDWYLNRPXGRJYDUVDPPHQ PHGGHDQGUHRJJMRUGHQRJHWJRGWIRUPLOM¡HWRJVnSnVDPPHWLGKDYGHYL GHWVMRYW 0DOWH3




%(6‘*3c)//(6+c%66.2/(1 ) OOHVKnEVVNROHQ LQYLWHUHGHRVWLODW KROGHIRUHGUDJRJ ZRUNVKRSLPDUWV PnQHG $OEHUWH.ULVWLDQ /DXUDRJMHJ .DWMD  ILNORYWLODWNRPPH XGSnHQIRONHVNROH RJIRUW OOHYRUHV HJQHKLVWRULHURJ I¡UHGHQYLGHQYL KDURPRUGEOLQGH KM OSHPLGOHUYLGHUH WLODQGUHRUGEOLQGH 0DQNXQQHP UNH SnYHMHQGHUKHQL ELOHQVDPPHQPHGHQDIYRUHVO UHUHDWGHUYDUHQIRUPIRUVS QGLQJGD GHWNDQY UHHQVWRUXGIRUGULQJDWUHMVHVLJRJVLJH-(*(525'%/,1' 0HQPHGQ VWHQWRnUSn9ULJVWHGKDUMHJO UWVnPHJHWRPPLJVHOYRJ EODO UWDWDFFHSWHUHDWMHJHURUGEOLQG 9LVNXOOHKROGHIRUHGUDJIRUHOHYHUQHLNODVVHRJKHOWRSWLO$OOHVNXOOH K¡UHYRUHVHJQHSHUVRQOLJHKLVWRULHURPKYRUQnUYLYDUEOHYHWNRQVWDWHUHW RUGEOLQGKYDGYLJHUQHYLOOHY UHLIUHPWLGHQRVY)¡UIRUHGUDJHWNRPHQDI O UHUQHIUD) OOHKnEVNROHQRJVDJGHKXQOLJHKDYGHKDIWHQGUHQJL NODVVHVRPQHWRSKDYGHVSXUJWKHQGH´NDQGXLNNHEDUHILQGHHQSLOOHVn MHJNDQVWDYHOLJHVnJRGWVRPGHDQGUH´'HUNXQQHMHJP UNHHQNOXPSL PDYHQSnPLJVHOYIRUGLMHJVHOYNDQKXVNHGDMHJJLNPHGGHIUXVWUDWLRQHU RJWDQNHU 9LILUHHOHYHUILNPHGUHWU\JIRUKnEHQWOLJWJMRUWRSP UNVRPSnDWI¡OHVLJ GXPJ¡UYLYHOQRNDOOHSnHWHOOHUDQGHWWLGVSXQNWPHQDWGHWHULNNHSn JUXQGDIRUGEOLQGKHGHQ'HQVW¡UVWHJUXQGWLODWMHJNDQWDOHVnnEHQWRP GHWLGDJHUGHQRSEDNQLQJIUDO UHUWHDPHWGHUVWnUEDJ9ULJVWHG(IWHUVNR OHLGDJ+YLVMHJYDUOLJHYHGDWIDOGHYDUGHGHUDOWLGPHGGHWVDPPHDOWLG NODUWLODWJULEHPLJ-HJNRPPHGGHWV\QSnRUGEOLQGKHGDWRUGEOLQGHYDU QRJOHWDEHUHWLOGHWV\QMHJKDULGDJKYRUMHJLVWHGHWVWnUIRUDQDQGUHRJ VLJHU´MDMHJHURUGEOLQGRJGHW(5-(*672/7$)´ .DWMD




*<01$67,..(1

3n9ULJVWHG(IWHUVNROHKDUYLHOHYHUWLPHUVREOLJDWRULVNJ\PQDVWLNRPXJHQ 2IWHKDUHOHYHUQHYLGWIRUVNHOOLJHLQWHUHVVHURJPDQJHKDUDOGULJG\UNHWJ\P QDVWLN0HQXDQVHWRPPDQHUWLOIRGEROGPXVLNGHWNUHDWLYHHOOHUH-VSRUW VnHUGHUSODGVWLORVDOOH'HWHUEDUHYLJWLJWDWPDQKDUO\VWRJYLOMHWLODWIn GHWEHGVWHXGDIWLPHUQHVDPPHQPHGHQVYHQQHU6nJnUGHWKHOHOHWVRP HQOHJ-GHWHUDOWLGVMRYHVWQnUYLJ¡UGHWLI OOHVVNDE ,O¡EHWDInUHWNDQPDQP UNHDWIRONRYHUVNULGHUJU QVHUXGYLNOHUVLJRJ RYHUYLQGHUGHUHVIRELIRUEDUHW HU 6WLOOHRJUROLJWILQGHUIRONXGDIDWGHW IDNWLVNHUPHJDVMRYWDWGDQVHVDPPHQLHQOLOOHKDOKYRUVYHGHQJRGWNDQ GULYHOLGW'pURJI¡UVWGpUEOLYHUGHWULJWLJHIWHUVNROH-nQG .XOPLQDWLRQHQSnDOOHGHWLPHUYLKDUODJWLDWWU QHHURSYLVQLQJHUQH'HWHU GHUKYRUYLYLVHUKYDGYLKDUEUXJWHWKHOWnUSnDWJHQQHPJn2JGHWHUWLO RSYLVQLQJHUQHKYRUPDQIRUDOYRUNDQP UNHDWGHWGHUHQJDQJYDUO UHU QHVYLVLRQHUEOHYHWWLOYRUHV 'HWIHGHYHGJ\PQDVWLNNHQHUDWGHWHUGHUKYRUYLYLUNHOLJInUORYWLODWXGIRO GHRVLIRUKROGWLOVSULQJRJGHWU\WPLVNH,nUKDUYRUHVNUHDWLYLWHWLGHQJUDG I\OGWLRSYLVQLQJHQGDQRJOHDIRVVHOYKDUVWnHWIRUDWODYHIRUVNHOOLJHVHULHU RJYLKDUGHUPHGRSQnHWHQI¡OHOVHDIHMHUVNDE2JGHUXGYLNOHVVDPPHQKRO GHWLK¡MJUDG 'HWKDQGOHURPDWO UHRJDWO UHIUDVLJ-VHOYWLOIRGEROGGUHQJHQH

)UHMD




8''$11(/6(6'$*(1

'DJHQVWDUWHGHPHGHWRSO JIUD7ULQH7UHQWHP¡OOHUGHUHUO VHYHMOHGHUL 6NDQGHUERUJRJNRQVXOHQWL8QGHUYLVQLQJVPLQLVWHULHW+HQGHVRSO JKDQG OHGHRPUREXVWKHG +HUHIWHUKDYGHYLHOHYHUQHRJYRUHVIRU OGUHPXOLJKHGIRUDWVQDNNHPHG HQKHOPDVVHXQJGRPVXGGDQQHOVHUGHUYDUUHSU VHQWHUHWSnGDJHQ,JHQ LnUP¡GWHWLGOLJHUHHOHYHURSIRUDWIRUW OOHRPGHQXGGDQQHOVHVRPGHHUL JDQJPHG1RJOHKHOWI UGLJHPHGXGGDQQHOVHQRJDQGUHNXQOLJHEH J\QGW$OOHKDYGHPXOLJKHGIRUDWNXQQHVWLOOHVS¡UJVPnORPDOWOLJHIUD KYRUPDQJHDIOHYHULQJHUPDQKDUWLORPPDQInUKM OSQRNRVY 0DQJHDIHOHYHUQHIUDNODVVHKDYGHEUXJIRUDWInURSnWURHQWLOEDJH RJInVWLOOHWGHVLGVWHVS¡UJVPnOWLOGHIRUVNHOOLJHXGGDQQHOVHU$WVQDNNH PHGHOHYHUQHIUDXGGDQQHOVHUQHJDYPRGHWWLOEDJHRJWDQNHQRPDWPDQ JRGWNXQQHNODUHGHW )RU-NODVVHJLNPDQJHUXQGWRJVQDNNHGHPHGGHPGHUJnUQRJOHDI GHVWHGHUGHKDYGHRYHUYHMHW /DXUD0




6/(77(1 )¡UVWHGDJ 9LWRJEXVVHQWLO6OHWWHQ'HWWRJFDWLPHIRUDWNRP PHIUDVNROHQWLOGHUXG'DYLDQNRPWLO6OHWWHQEOHYYL GHOWRSLYRUHVNRQWDNWJUXSSHURJVnJLNYLKHQKYRUYL VNXOOHVRYH9LVORJGHWHOWHRSYLVNXOOHVRYHLRJSDN NHGHYRUHVWLQJXGRJGHUHIWHUODYHGHYLPDGRYHUEnO $IWHQHQJLNPHGK\JJHRJVDQJUXQGWSnGHV\YVPn OHMUSODGVHU $QGHQGDJ 9LVNXOOHSDNNHDOOHYRUHVWLQJQHGLJHQRJVnVNXOOHYL IO\WWHRYHUWLOHQVWRUVDPOHWOHMUSODGV'DYLVnKDYGH SDNNHWXGLJHQYDUGHUQRJOHIRUVNHOOLJHDNWLYLWHWHU VRPYLYDUEOHYHWGHOWXGSnKMHPPHIUD'HUYDUNDQR EROVMHY UNVWHGJU VVO GHUXOWLPDWHVXUYLYDOEXH VN\GQLQJJHRFDFKLQJRJPDGODYQLQJ+HQDGDIWHQYDU GHUI OOHVVSLVQLQJRJVHQHUHI OOHVVDQJRJK\JJHRP EnOHW 7UHGMHGDJ 6NXOOHYLSDNNHDOOHYRUHVWLQJQHGLJHQRJVnVNXOOHYL XGDWJn9LVNXOOHJnRSWLOWRSSHQDI+LPPHOEMHUJHW KYRUYLILNWDJHWHWI OOHVELOOHGHDIRVRJVnVNXOOHYLJn QHGDI+LPPHOEMHUJHWLJHQKYRUGHUKROGWEXVVHUVRP VNXOOHN¡UHRVKMHPWLOVNROHQLJHQ &HFLOLHRJ:LOOLDP







6.,/(-56.2/(,69(5,*(

,nUWRJYLSnHQPHJDK\JJHOLJVNLWXUWLO+XQGIMlOOHWL6YHULJH/¡UGDJHIWHU PLGGDJSDNNHGHYLEXVVHUQHRJN¡UWHPRG)UHGHULNVKDYQKYRUYLKRSSHGH SnHQI UJHRJVHMOHGHPRG*|WHERUJ9LDQNRPL6YHULJHNORJJLN LJHQRPERUGSnEXVVHQ9LN¡UWHKHOHQDWWHQRSWLO+XQGIMlOOHWRJNODQ NRPYL'HWYDUYLUNHOLJNROGWDWNRPPHXGDIGHQGHMOLJWYDUPHEXVPHQYL VNXOOHDOOHUHGHXGRJVWnSnVNLVDPPHPRUJHQ 6RPQ\EHJ\QGHUYDUGHWOLGWHQXGIRUGULQJDWVNXOOHO UHDWVW\UHGHGHUWR ODQJHVW\NNHUSODVWLNPDQILNVDWSnI¡GGHUQH+HOGLJYLVYDUO UHUQHPHJHW IRUVWnHQGHIRUDWQnUPDQLNNHKDUVWnHWSnVNLI¡UVHUE¡UQHEDNNHQOLGWIDU OLJXG 9LERHGHLK\WWHUVDPPHQ-PHQQHVNHURJVNXOOHVHOYVWnIRUPDG2P DIWHQHQP¡GWHVYLWLOOLGWDIWHUVNLKYRUYRUHVIDQWDVWLVNHRUGVW\UHU$QGHUV /HKPDQQIRUWDOWHRVRPGHWLQJGHUYDUVNHWLO¡EHWDIGDJHQ'HWNXQQH Y UHGHUYDUQRJHQGHUKDYGHODYHWHWOLGWVMRYWVW\UWHOOHUKMXOSHWQRJHQRS VRPYDUVW\UWHW




9LVWRGSnVNLLGDJH(QGDJKDYGHO UHUQHV¡UJHWIRUJULOOS¡OVHULHQOLOOH K\WWHSnEMHUJHWRJHQGDJYDUGHUDIWHUVNLPHGPXVLNRJGDQV3HUVRQOLJW V\QWHVMHJDWGHWYDUHQYLUNHOLJK\JJHOLJWXURJMHJKnEHUGHInUHQOLJHVn K\JJHOLJWXUQ VWHnU 0DORX




72<6725<

,PXVLFDOXJHQODYHGHYL7R\6WRU\9LDUEHMGHGHHQKHOXJHPHGVNXHVSLO NRVWXPHUGDQVVFHQRJUDILO\GRJO\V 9LYDOJWHRVSnIRUVNHOOLJHSURMHNWHURJVDPPHQVNDEWHYLYRUHVVWRUHPXVL FDO'HWYDUHQKnUGXJHPHQGDYLKDYGHKDIWSUHPLHUHNXQQHYLSOXGVHOLJ VHKYDGYRUHVKnUGHDUEHMGHKDYGHJLYHWRV'HWYDUPHJDIHGW'HWEHGVWH YDUQRNDWYLDUEHMGHGHPHGHQEHVWHPWWLQJKHOHXJHQI[O\GHOOHUO\VVRP PDQVnEOHYJRGWLO'HWYDURJVnIHGWDWY UHLJUXSSHURJDUEHMGHVDPPHQ PHGDQGUHHOHYHUHQGGHPPDQHUYDQWWLO 9LVSLOOHGHIRUPDQJHPHQQHVNHU%ODQGWDQGHWDQGUHHIWHUVNROHUVPnHOHYHU IUDIRONHVNROHQRJGHQVLGVWHGDJRPDIWHQHQVSLOOHGHYLIRUIRU OGUHV¡ VNHQGHRJEHGVWHIRU OGUH(IWHUHQODQJRJKnUGXJHJLNYLDOOHJODGHSnIRU O QJHWZHHNHQG1XJO GHUYLRVWLOQ VWHnUVPXVLFDO NODVVH







*<0-&5$:/ 'XYLONRPPHWLODWRSOHYHJ\P-FUDZOLNODVVHQKYRUGXNRPPHUUXQGWL +RUVHQVRJRSOHYHUGHIRUVNHOOLJHJ\PQDVLDOXGGDQQHOVHU'HWJLYHUGLJHW LQGEOLNLKYRUGDQPLOMยกHWRJKYHUGDJHQSnDOOHGHIRUVNHOOLJHJ\PQDVLDOHXG GDQQHOVHUHU'XYLOEOLYHWUDQVSRUWHUHWLQGWLO+RUVHQVWLGOLJWRPPRUJHQRJ QnUVNROHGDJHQHURPPHVNDOGXVDPPHQPHGGLQHNODVVHNDPPHUDWHUVHOY ILQGHEXVVHQVRPJnUWLOEDJHWLOHIWHUVNROHQ'HWWHKDURJVnJMRUWDWGXInUHW EHGUHEHNHQGWVNDEWLORIIHQWOLJWUDQVSRUW 9LVWDUWHGHGHWWHnUVJ\P-FUDZOPHGHQPDVVHWYLYORJVSยกUJVPnOWLOKYLONHQ XQJGRPVXGGDQQHOVHGHUYLOOHSDVVHEHGVWWLOYRUHVEHKRYRJLQWHUHVVHU9L VLGGHUGHQGDJLGDJEHJJHPHGURLPDYHQRJHUNRPPHWSnKK[PHGVWRU RSEDNQLQJIUD9ULJVWHGHIWHUVNROH 1DQQDRJ.DWMD




(8'-./$5 ,NODVVHQHUYLXGHSnEURE\JQLQJGHWI¡UVWHKDOYHnU9LNRPPHUXGL GDJHHOOHUXJHU9LNRPPHUXGRJSU¡YHUQRJOHIRUVNHOOLJH(8'XGGDQ QHOVHUVRPIHNVNDQY UH6RVX%\JKROP7HFKHOOHU%XVLQHVV'HIOHVWHL NODVVHQYDUPHVWLQWHUHVVHUHWLWHFK9LNRPLJHQQHPWRSHULRGHUKYRUPDQ NXQQHY OJHHQDIGHILUHIDJUHWQLQJHU-HJYDUSnWHFKGHOHQEHJJHIRUO¡E IRUGLMHJJHUQHYLOY UHLQGXVWULWHNQLNHURJGHQOLJJHUSnWHFK+HUYDUYLRJ VnLJHQQHPPXUHUW¡PUHUEURO JJHUVWHQKXJJHUVPHGLQGXVWULWHNQLNHURJ HOHNWULNHU 9LVNXOOHPHGEXVVHQWLGOLJWRPPRUJHQHQGHWNXQQHJnIUDNORP PRUJHQWLONOERUWVHWIUDQnUEXVVHQNRPIRUVHQW9LVNXOOHVHOYODYH PDGSDNNHRPPRUJHQHQVnYLRJVnNXQQHInQRJHWDWVSLVHWLOIURNRVW3n /HDUQPDUN+RUVHQVVWDUWHGHWLPHUQHNORJGDJHQVOXWWHGHNO HOOHU'DJHQNXQQHEULQJHIRUVNHOOLJHXGIRUGULQJHUIHNVE\JJHHWOHJH KXVHOOHUE\JJHHQPXU 'DYLYDUI UGLJHPHGIRUO¡EHWILNYLHQHYDOXHULQJSnKYRUGDQYLKDYGHWD JHWRSJDYHUQHRJKYRUGDQYLKDYGHRSI¡UWRVVRPYLIHNVNDQJLYHWLOHW ILUPDHOOHUXGGDQQHOVHYLJHUQHYLOLQGSn 1nUYLNRPKMHPIUDEURE\JQLQJVNXOOHYLVNULYHGDJERJVRPOLJHYDUHWSDU OLQMHURPKYDGYLKDYGHODYHWGHQGDJRJSnKYLONHWIDJYLKDYGHY UHW 'HIOHVWHDIRVEOHYDINODUHWLGHQSHULRGHRPKYLONHQXGGDQQHOVHYLJHUQHYLO LQGSn -HJVHOYHUVnKHOGLJDWMHJKDUIXQGHWHQO UHSODGVVRPMHJNDQVWDUWHSn WLOVRPPHUVRPLQGXVWULWHNQLNHU 2OLYHURJ&DUROLQH




*$//$

*DOODSn9ULJVWHGHUHQDIWHQKYRUDOOHHOHYHUQHWDJHUILQWW¡MSnGDQVHU/DQ FLHUVVSLVHUJRGPDGRJK\JJHUVLJPHGVLQHYHQQHU'HWVWDUWHGHPHGDW GUHQJHQHVNXOOHInVLQJDOODSDUWQHUDWYLGHRJGHUHIWHUVNXOOHJnQHGPHGHQ URVHWLOKHQGHRJOLGWHIWHUWRJYLDOOHQHGLKDOOHQRJ¡YHGH/DQFLHUV'DGHW EOHYDIWHQJMRUGHYLRVNODUWRJILQWW¡MSnRJGHPGHUYLOOHWRJPDNHXSSn 6nNRPYLQHGLVSLVHVDOHQKYRUYLVNXOOHKDYHUHWWHUVPHQXVRPO UHUQH VHOYI¡OJHOLJVHUYHUHGHRJGHWRJRJVnRSYDVNHQIRUHQJDQJVVN\OG(IWHUDO PDGHQWRJYLQHGLKDOOHQRJGDQVHGHRJOLGWHIWHUVNXOOHYLRSRJKDYHWDJHW ELOOHGHUEnGHPHGYRUHVSDUWQHUPHQRJVnPHGYHQQHUN UHVWHURJVHOY O UHUQHKYLVPDQYLOOH6nEOHYGHUHJHQWOLJW³IULOHJ´KYRUYLYDULKDOOHQVRP YDUS\QWHWILQWRSRJO UHUQHVHUYHUHGHGULQNV6HQHUHYDUGHUQRPLQHULQJ KYRUQRJHQYDQGWVnGDQQRJOHEnQGPDQNXQQHHNVHPSHOYLVKDYHY UHW nUHWVJDOODSDUHOOHUYLQGHnUHWVNMROH$IWHQHQVOXWWHGHDIPHGYLDOOHVWRG XGHQIRUKYRUGHUEOHYVNXGWI\UY UNHULDI'HWYDUHQJRGDIWHQRJGHWYDU VMRYWDWSU¡YHDWKDYHVnILQWW¡MSnRJLV UDWVHGHDQGUHLGHW'HQDIWHQ ILNMHJPDVVHUJRGHPLQGHURJILNRJVnWDJHWQRJOHJRGHELOOHGHUWLODWKXVNH GHP )UHGHULNNH9 


;;;




6791(5 6RPYDQOLJWGHOWDJHU9ULJVWHG(IWHUVNROHLGHIOHVWHDIVSRUWVWXUQHULQJHUQHL 5,0UHJL'HWWHVNROHnUKDUYLVRPVNROHGHOWDJHWLPDQJHWXUQHULQJHU9L VWDUWHGHLVHSWHPEHUPHGGHQVWRUHIRGEROGWXUQHULQJSn%DQNDJHUDQO JJHW L+RUVHQVKYRUYLEnGHNXQQHVWLOOHPHGHWGUHQJHKROGRJHWSLJHKROG,QR YHPEHUYDUYLSn%U¡UXSKXVWLOEDGPLQWRQVW YQHKYRUKnEHIXOGHVSLOOHUH GHOWRJGDJHVHQHUHYDUYLWLOLQGHQG¡UVIRGEROGVW YQHL9HMOHKYRUYL NXQQHVWLOOHPHGLNNHPLQGUHHQGGUHQJHKROGRJHWSLJHKROG,IHEUXDUGHO WRJYLLHWZHHNHQGVW YQHKYRUGHUEOHYG\VWHWLYROOH\EDOORJERUGWHQQLV 'HWYDUHQIUHPUDJHQGHZHHNHQGPHGILQHSU VWDWLRQHURJHWVXSHUVDP PHQKROGEODQGWHOHYHUQH,DSULOGHOWRJYLLKnQGEROGVW YQHPHGHWGUHQJH KROGRJHWSLJHKROG0DMHUDOWLGGHQKHOWVWRUHVW YQHGDJ9HMOHVW YQHWHU HQGDJKYRUDOOH9ULJVWHG(IWHUVNROHVHOHYHUGHOWDJHU'HUEOLYHUG\VWHWLDOOH DWOHWLNGLVFLSOLQHUPL[IRGEROGEHDFKYROOH\RJPDQJHDQGUHLGU WVJUHQH 0DM-PnQHGVOXWWHVDIPHGHWO¡EHVW YQHSn.UDJHOXQG(IWHUVNROH

)RGEROGVW YQHWYDUHQVMRYGDJ)OHUHDI RVKDYGHIRGEROGVW¡YOHURJEHQVNLQQHU SnIRUI¡UVWHJDQJ$OOLJHYHON PSHGH SLJHUQHVLJKHOHYHMHQWLOILQDOHQ 6RILH

%DGPLQWRQVW YQHWYDUHQVN¡QRJPHJHWODQJ GDJ9LILNVSLOOHWPDQJHNDPSH 0DULD




)RGEROGVWÂ YQHWYDUPHJDIHGW$OOHKROGH QHYLKDYGHPHGNODUHGHVLJJRGW /LQQHEHUJ

(QO¡UGDJLIHEUXDUYDUYL HOHYHUSn(OE N(I WHUVNROHIRUDWVSLOOHYRO OH\RJERUGWHQQLVPRG YRUHVQDERHIWHUVNROHU 'HWYDUIHGWRJYLN P SHGHVXSHUJRGWRJ GUHQJHQHILNHQIORWDQ GHQSODGVLYROOH\ 6YHQG

9LYDUWLOKnQGEROGVWÂ YQHPHGKHOHUHJLR QHQVDQGUHHIWHUVNROHU'HWYDUHQYLOGWJRG GDJ 0DWKLDV+ROP

9HMOHVW YQHWYDUPHJHWIHGW IRUGLGHUYDUPDQJHVSRUWVWLQJ DWODYH/¡EHQHYDUV UOLJW YLOGJRGHRJGHWIHGHVWHYDU DWGHWVOXWWHGHDIPHGHQVWD IHWPRGGHDQGUHHIWHUVNROHU 7ULQH1




635..(%-(5*

)ULOXIWVFHQWHU6SU NNHEMHUJKDUHQXGYLGHWPLOLW UIRUKLQGULQJVEDQHVRP NDQXGIRUGUHDOOHEnGHHQNHOWYLVRJVRPKROG%DQHQKDUIRUKLQGULQJHU KYRUDIGHDIGHPHUIUDGHQRULJLQDOHPLOLW UHIRUKLQGULQJVEDQH5HVWHQHU KHQWHWPHGLQVSLUDWLRQIUDEnGHGDQVNHRJXGHQODQGVNHVSHFLDOVW\UNHUVWU  QLQJVEDQHU 6SRUWVOLQMHQEOHYXGIRUGUHWSnEDQHQSnIRUnUHWVOLQMHGDJH 'HWYDUHQULJWLJWIHGWXUPHGPDQJHXGIRUGULQJHURJULJWLJWJRGWVDPPHQ KROG0DQNRPPHJHWW WWHUHSnKLQDQGHQHQGPDQJ¡UWLOGDJOLJW(QVXSHU JRGGDJPHGPDQJHVPLORJJULQ /DXULWVRJ-RQDV+/







/$1:((.(1'




‘-(%/,..(

)DVWHODYQ 2UGEOLQGHPHVVH+RUVHQV

7U NNHIRUG\EHOVHVHPQH

+HGHQVWHG6SLOGHYDQG

'DQPDUNV)HUJXVRQ0XVHXP




6<'6/(69,*6.((/(9(5

,XJHRJKDYGHYLHOHYHUIUD6\GVOHVYLJLSUDNWLN/HQH+HQULN)LQQ )HOL[RJ)HOL['HERHGHVDPPHQPHGHOHYHUQHSnYÂ UHOVHUQHRJGHOWRJL XQGHUYLVQLQJRJIULWLGVDNWLYLWHWHU/HQH+HQULNRJ)LQQHURSWDJHWSn9ULJVWHG (IWHUVNROHLVNROHnUHW




)2'%2/'02'95,*67('%< 6NROHQVnUOLJHRJWUD GLWLRQVULJHIRGEROG G\VWPRGE\HQEOHY VSLOOHWWRUVGDJGHQ MXQL 9LPnWWHGRJGHQQH JDQJVHRVVOnHWDIGH ORNDOHIRGEROGKHOWH




(/(9(5- EĂǀŶ

ĚƌĞƐƐĞ

LJ

ŶĚĞƌƐ^͘TƐƚďĞƌŐ

ELJĂŐĞƌϰ͕&ŽůĚďLJ

ϴϯϴϮ,ŝŶŶĞƌƵƉ

DŽďŝů

ĞŶũĂŵŝŶ͘ƐŬŚŽůŵ

ĚůĞƌŚƵƐǀĞũϮϬ

ϱϱϬϬDŝĚĚĞůĨĂƌƚ

ϮϯϵϮϭϲϱϴ

ĞŶŶĞƚ:͘WŽƵůƐĞŶ

TƌďLJǀĞũϳĂ

ϴϯϬϱ^ĂŵƐƆ

ϲϭϱϰϵϳϵϴ

ϲϭϲϬϱϰϰϳ

ŚƌŝƐƟĂŶĚŽůĨƐĞŶ

<ĂƐƚĂŶŝĞůƵŶĚĞŶϯϴ

ϲϳϬϱƐďũĞƌŐT

ϮϰϰϴϬϲϮϵ

ŝĚĚĞZ͘&͘KůƐĞŶ

ZŽůŝŐŚĞĚƐǀĞũϭϮ

ϴϳϮϮ,ĞĚĞŶƐƚĞĚ

ϲϬϲϭϬϲϱϱ

&ƌĞĚĞƌŝŬ͘ZŽƐĞŶŬǀŝƐƚ

EŽƌĚƌĞLJďďƆůǀĞũϱ

ϳϬϬϬ&ƌĞĚĞƌŝĐŝĂ

ϱϭϰϴϮϱϳϵ

/ŶĂ͘WŽƵůƐĞŶ

dŚŽƌƐǀĞũϮ

ϳϴϬϬ^ŬŝǀĞ

ϲϭϲϯϰϬϱϬ

:ŽƐĞƉŚŝŶĞ͘,͘>ĞŶƚnj

ĚĞƌůĂŶĚƐǀĞũϱϱ

ϮϳϯϬ,ĞƌůĞǀ

ϰϮϮϮϳϲϬϵ

:ŽƐĞƉŚŝŶĞ͘EƆƌŚŽůƚ

>ĂŶŐĞůŝŶŝĞϭϴϮ͘

ϳϭϬϬsĞũůĞ

Ϯϭϵϲϱϳϳϳ

:ƵŶĞt͘ŚůƋƵŝƐƚ

'ƌčƐǀčŶŐĞƚϭϯ͕'ƌĞũƐ

ϳϭϬϬsĞũůĞ

ϮϯϮϵϱϰϭϳ

<ĂƚŚƌŝŶĞZ͘ZĂƐŵƵƐƐĞŶ

,ĞďŽǀčŶŐĞƚϵ͕'ĊƌƐůĞǀ

ϳϬϴϬƆƌŬŽƉ

ϱϯϲϵϵϲϴϱ

<ĂƚũĂƵĞ

&ƌĞĚĞƌŝŬƐŐĂĚĞϰ

ϴϳϬϬ,ŽƌƐĞŶƐ

ϱϯϲϯϲϴϮϴ

>ĂƐƐĞE͘DĂƌŬĞƌ

ƌŽƌƐŽŶƐǀĞũϴ͕,ŽƌŶďŽƌŐ

ϴϳϲϮ&ůĞŵŵŝŶŐ

ϮϬϴϲϵϱϮϯ

>ĂƵƌĂ>͘DĂĚƐĞŶ

ZŝďĞǀĞũϮϴ

ϲϳϰϬƌĂŵŵŝŶŐ

ϮϵϯϯϲϭϮϬ

DĂůŽƵd͘ĂƌůƐĞŶ

ŶŐŐĊƌĚƐƉĂƌŬĞŶϮϲ

ϳϬϬϬ&ƌĞĚĞƌŝĐŝĂ

ϲϭϳϯϰϲϰϴ

DŝŬŬĞůs͘^ƆƌĞŶƐĞŶ

ŝƐŬŽƌƵƉǀĞũϮϰ͕ŝƐŬŽƌƵƉ

ϱϮϰϬKĚĞŶƐĞET

ϲϭϲϲϱϲϳϴ

sŝĐƚŽƌŝĂĂŚůƐƚƌƆŵ

dŽƌƵƉǀĞũϱ

ϱϲϭϬƐƐĞŶƐ

ϮϵϵϮϭϴϴϲ

KůŝǀĞƌDƆůůĞƌ

'ŽƌĚŽŶŚĂǀĞŶϲ

ϴϯϳϬ,ĂĚƐƚĞŶ

ϮϮϰϲϭϮϮϴ

WĞƚĞƌ'͘WĞĚĞƌƐĞŶ

,ŽƌƐŚƆũǀĞũϰ͕dƌčĚĞŶ

ϴϳϰϬƌčĚƐƚƌƵƉ

ϰϮϭϳϰϯϮϳ

ZĂƐŵƵƐ͘:ĞŶƐĞŶ

'ĂůŐĞƚŽŌĞŶϰϮ

ϲϲϯϬZƆĚĚŝŶŐ

ϮϮϱϬϭϰϰϱ

^ŝĨZĂƐŬ

sĂŶƟŶŐĞǀĞũϮϲ͕,ĞĚĞŶ

ϱϳϱϬZŝŶŐĞ

ϮϴϳϲϱϳϭϮ

dŽďŝĂƐ:ĞƐƉĞƌƐĞŶ

^ƆƌĞŶƐdŽŌϳ

ϴϯϲϮ,ƆƌŶŝŶŐ

ϰϮϰϮϬϯϬϵ

dŽďŝĂƐ'͘DŽŐĞŶƐĞŶ

^ŬŽǀǀĞũĞŶϲϯ

ϴϳϰϬƌčĚƐƚƌƵƉ

ϱϭϳϬϮϴϬϲ

dƌŝŶĞD͘EŝĞůƐĞŶ

KůŝŶĞƐŵŝŶĚĞǀĞũϮϱ

ϴϳϮϮ,ĞĚĞŶƐƚĞĚ

ϮϮϰϳϵϵϮϱ

sŝĐƚŽƌŝĂ>ŽŚŵĂŶŶ

sĞĚ<čƌĞƚϭϭ͕^ŶĞƐƚƌƵƉ

ϱϮϭϬKĚĞŶƐĞEs

ϰϮϰϭϭϱϭϵ

sŝǀŝĂŶ'͘EŝĐŽůĂŝƐĞŶ

>ƆǀŚŽůŵĞŶϭϮϭ

ϮϳϮϬsĂŶůƆƐĞ

ϰϮϮϴϬϬϴϲ

tŝůůŝĂŵ͘͘,ĂŶƐĞŶ

EƆƌƌĞůůĞϱϬ

ϳϰϬϬ,ĞƌŶŝŶŐ

ϮϱϱϯϳϮϰϵ

ůďĞƌƚĞDLJŐŝŶĚ

ƆŐĞŚĂǀĞŶϭϬϬ

ϯϱϬϬsčƌůƆƐĞ

ϯϬϵϱϴϬϭϰ

ůĨƌĞĚ͘&ƌƵĞůƵŶĚ

:čŐĞƌƐƚƌčĚĞϱ

ϮϳϱϬĂůůĞƌƵƉ

ϮϬϱϯϭϵϳϭ

ŶŶĞ^ŽĮĞ͘:ĞŶƐĞŶ

,ƵŵůĞƉĂƌŬĞŶϲ

ϳϭϰϬ^ƚŽƵďLJ

>ĂƐƐĞDƺŚůŵĂŶŶ

tĂŶĚĞƌƵƉĞƌ^ƚƌ͘ϮϭͲϭϭϵ

ͲϮϰϵϲϯdĂƌƉ

ϲϬϱϭϮϮϳϬ

ŶƚŚŽŶD͘ĂŚů

>ĂŶŐĞŐLJĚĞϰϱ

ϱϳϲϮsĞƐƚĞƌ^ŬĞƌŶŝŶŐĞ

ĞĐŝůŝĞŚƌŝƐƚĞŶƐĞŶ

sĞƐƚďŝƌŬǀĞũϭϮ͘ƐĂůůĞũů͘ϭϭ

ϴϳϱϮTƐƚďŝƌŬ

Ϯϴϵϭϴϵϵϯ

ĞĐŝůŝĞ͘:ŽŚĂŶŶƐĞŶ

>ŝŶĚĞƉĂƌŬĞŶϮϲ

ϲϮϯϬZƆĚĞŬƌŽ

ϮϮϱϯϰϬϮϱ

ϬϬϰϵϭϱϭϰϲϳϬϯϳϳϭ ϰϮϲϰϳϬϰϲ

ĞůŝĂt͘WĞƌĞŝƌĂ

DĂƌƐƚƌĂŶĚƐŐĂĚĞϭϵϯ͘ƚŚ͘

ϴϬϬϬĂƌŚƵƐ

ϰϭϰϯϰϭϱϯ

ĂŶŝĞůE͘DĂŶĐƵƐŽ

^ŬũŽůĚďŽƌŐǀĞũϮϵ

ϳϭϬϬsĞũůĞ

ϯϬϰϰϱϴϮϯ

ŵŝůDĂĚƐĞŶ

DƆůůĞŚĂǀĞϱ͕ZĊƌƵƉ

ϳϭϯϬ:ƵĞůƐŵŝŶĚĞ

ϰϭϴϮϭϳϰϲ

ŵŝůŝĞ&͘>͘ŚƌŝƐƟĂŶƐĞŶ

^ƉĂŶŐĞǀĞũϲϵ

ϱϲϴϯ,ĂĂƌďLJ

ϱϯϲϬϮϬϬϴ

ŵŵĂs͘^͘&ƌĞĚĞƌŝŬƐĞŶ

ŚĂƌůŽƩĞĂŐĞƌϭϮϮƐƩǀ͕ĂůĚĞƌƐďƌƆŶĚĞ

ϮϲϰϬ,ĞĚĞŚƵƐĞŶĞ

ϱϮϰϲϵϮϮϱ

&ƌĞĚĞƌŝŬ͘WŽƵůƐĞŶ

<ůŝŶƚĞǀĞũϱϲ

ϲϬϬϬ<ŽůĚŝŶŐ

ϲϭϳϮϳϱϮϬ

&ƌĞĚĞƌŝŬŬĞ,͘sĂŶĚĞů

&ŽŐĞĚǀčŶŐĞƚϭϰϴ

ϴϳϮϮ,ĞĚĞŶƐƚĞĚ

ϮϯϴϲϴϮϱϳ ϮϯϴϯϮϬϮϳ

&ƌĞũĂ^͘EŝĞůƐĞŶ

,ƵƐŽĚĚĞǀĞũϮϰ

ϴϳϬϬ,ŽƌƐĞŶƐ

'ĂďƌŝĞůůĂ,͘ĞƌŶďĞƌŐ

>ĂŶŐĞǀčŶŐĞƚϮ

ϱϱϬϬDŝĚĚĞůĨĂƌƚ

,ĂŶŶĂŚ&ůƂŐĞ

<ůĂƵƐ'ƌŽƚŚtĞŐϭ

ͲϮϰϴϰϴ<ƌŽƉƉ

ϱϯϴϯϵϱϱϬ ϬϬϰϵϭϳϱϳϯϳϭϰϴϯ

,ĞŶƌŝŬ^͘:ƆƌŐĞŶƐĞŶ

ǁĂůĚƐǀĞũϰ

ϴϳϱϮTƐƚďŝƌŬ

Ϯϵϳϳϲϲϵϵ

:ĞŶƐW͘:ƆƌŐĞŶƐĞŶ

DĞũĞƌŝǀĞũϮϮ͕,ĂƫŶŐ

ϴϳϬϬ,ŽƌƐĞŶƐ

Ϯϯϰϯϲϰϲϱ

:ĞƉƉĞtĞƐƚĞƌŐĂĂƌĚ

<ƌƆƐďčƌǀĞũϭϮ

ϳϯϯϬƌĂŶĚĞ

ϮϵϭϲϯϳϬϰ

:ŽŚĂŶŶĂd͘^ĐŚƵůƚnj

sŝŶŐĞůŚƆũǀĞũϲ͕,ŽƐƚƌƵƉƐŬŽǀ

ϲϮϬϬĂďĞŶƌĂĂ

ϲϬϭϴϮϮϬϮ



:ŽŶĂƐ,͘>ŝŶŶĞďĞƌŐ

<ŝƌŬĞĚĂůĞŶϴ͕sŽĞƌůĂĚĞŐĊƌĚ

ϴϲϲϬ^ŬĂŶĚĞƌďŽƌŐ

ϯϬϵϱϲϭϭϮ

:ŽŶĂƐ,͘ŚƌŝƐƟĂŶƐĞŶ

^ǀŝŶŐĞƚϳ

ϳϭϬϬsĞũůĞ

ϮϵϳϬϭϲϲϲ

:ŽŶĂƐd͘>ĂƌƐĞŶ

^ŬƌčŶƚĞŶϴ

ϲϳϬϬƐďũĞƌŐ

ϲϬϮϭϱϳϴϭ


EĂǀŶ

ĚƌĞƐƐĞ

LJ

:ƵůŝĂ>͘:ĞŶƐĞŶ

ŝƐƉĞďũĞƌŐǀĞũϲϴƐƚ͘ƚǀ͘

ϮϰϬϬ<ƆďĞŶŚĂǀŶEs

DŽďŝů ϱϭϭϲϬϭϴϬ

:ƵůŝƵƐ^͘EŝĞůƐĞŶ

^ŶĂƉƚƵŶǀĞũϭϳ͕'ůƵĚ

ϳϭϯϬ:ƵĞůƐŵŝŶĚĞ

ϵϯϴϱϱϯϱϴ

<ĂƌŶĞůŝĂ,͘^͘WĞƚĞƌƐĞŶ

'ƌƆŶŶĞŐĂĚĞϭϱ

ϯϳϯϬEĞdžƆ

ϮϵϮϭϬϬϬϲ

<ĂƐƉĞƌD͘DŽƌƚĞŶƐĞŶ

ƋŝƐƐŝůŝŬϭϱ

ϯϵϭϭ^ŝƐŝŵŝƵƚ

ϴϭϳϭϬϮϳϮ

<ĂƚŚƌŝŶĞ&͘:ĞŶƐĞŶ

^͘^ƚƵďƐǀĞũϱϲ

ϳϬϴϬƆƌŬŽƉ

ϮϵϮϰϵϯϮϲ

<ƌŝƐƟĂŶ,͘:ĞŶƐĞŶ

ŽũƐŶĂƉ<ƌĂƚϮϴ͕:ĞůƐ

ϲϲϯϬZƆĚĚŝŶŐ

ϮϯϲϱϳϳϰϮ

<ƌŝƐƟŶĞ/͘<ƌŝƐƟĂŶƐĞŶ

ůƉĞƚŽƉƉĞŶϮϵ͕,ĂƌƚĞ

ϲϬϬϬ<ŽůĚŝŶŐ

ϮϯϮϵϭϮϮϰ

>ĂƌƐ͘ZŽƐĞŶĚĂŚů

ĂůůĞǀĞũϭϲ͕<ŽĞĚ

ϴϱϲϬ<ŽůŝŶĚ

ϮϰϱϮϴϰϱϰ

DĂŐŶĞ͘DĂĚƐĞŶ

>ŝůůĞũĞƌŐŐĂĚĞϱ

ϳϭϬϬsĞũůĞ

ϲϭϴϴϯϯϬϵ

DĂŐŶƵƐ'͘&ůƵŐƚ

,ŽĚĚĞŵĂƌŬǀĞũϭϰ͕,ŽĚĚĞ

ϲϴϮϯŶƐĂŐĞƌ

ϯϬϮϳϯϱϮϵ

DĂŐŶƵƐ<͘'ĂƌƐĚĂů

'ƌƆŶǀĂŶŐĞŶϭ͕'ƌƆŶďũĞƌŐ

ϳϯϮϯ'ŝǀĞ

ϲϭϯϭϱϴϬϴ

DĂŐŶƵƐZ͘^ŬŽǀĞŶ

KǀĞŶčůƚĞƚϲ

ϱϱϬϬDŝĚĚĞůĨĂƌƚ

ϲϬϳϮϯϲϲϴ

DĂũĂ͘hŚƌĞŶŚŽůĚƚ

͍͍

͍͍

ϮϮϱϳϯϵϳϲ

DĂũĂ<͘WĞĚĞƌƐĞŶ

^ǀĂŶŶŝŶŐĞŚƵƐĞϰϯ͕ŝĞƌŶĞƐ

ϱϲϬϬ&ĂĂďŽƌŐ

ϮϮϱϴϮϯϭϮ

DĂůƚĞ͘͘WĞĚĞƌƐĞŶ

<ŝƌŬĞǀĞũϮϮ͕^Ěƌ͘EčƌĊ

ϱϳϵϮ ƌƐůĞǀ

ϲϬϳϵϳϳϯϴ

DĂƌĐŽ<͘'ƵůĚĨĞůĚƚ

WŽŐĞǀĂŶŐĞŶϯ

ϳϭϮϬsĞũůĞTƐƚ

ϮϮϴϵϵϮϭϵ

DĂƌŝĂK͘:ƆƌŐĞŶƐĞŶ

dŽƵƌƵƉϮϲ

ϲϰϰϬƵŐƵƐƚĞŶďŽƌŐ

ϰϬϰϲϲϮϱϭ

DĂƌŝƵƐĂ͘ŽŽƉƐ

TƐƚĞƌŐĂĚĞϰϲϭ͘ŵĨ

ϱϱϬϬDŝĚĚĞůĨĂƌƚ

ϮϵϮϲϬϳϰϴ

DĂƚŚŝĂƐ^ŽŶĚƌƵƉ

ůŐĊƌĚƐŵŝŶĚĞůƵŶĚĞŶϮϵ

ϴϯϲϮ,ƆƌŶŝŶŐ

ϮϬϮϵϬϮϲϬ

DĂƚŚŝĂƐ&͘EŝĞůƐĞŶ

LJďĂŬŬĞŶϭϭϴ

ϯϲϬϬ&ƌĞĚĞƌŝŬƐƐƵŶĚ

ϰϬϲϮϬϵϰϭ

DĂƚŚŝĂƐ,͘sčŐŐĞŵŽƐĞ

,ƆũŵĂƌŬĞŶϭϯϲ

ϴϲϬϬ^ŝůŬĞďŽƌŐ

ϰϮϭϱϮϰϬϬ

DĂƚŚŝĂƐ>͘W͘,Žůŵ

>ŝŶĚĞǀĞũϭϲ

ϲϴϴϬdĂƌŵ

ϲϭϰϮϰϰϳϵ

DĂdž͘ŝƚůĞǀƐĞŶ

>ĂŶŐŐĂĚĞϰ͕ƐƉĞ

ϱϳϱϬZŝŶŐĞ

ϯϬϵϲϵϳϬϬ

DŝĐŚĞůůĞZ͘<ĞũůƐƚƌƵƉ

TƐƚĞƌŐĂĚĞϱϭ

ϲϱϴϬsĂŵĚƌƵƉ

Ϯϱϱϯϯϭϯϴ ϲϬϮϭϰϳϭϵ

DŝŬĞ͘dŚŽŵƐĞŶ

WůĂŶƚĂŐĞǀĞũϮϴ͕^ŶŽŐŚƆũ

ϳϬϬϬ&ƌĞĚĞƌŝĐŝĂ

ZĂƐŵƵƐh͘EŝĞůƐĞŶ

,ƆũŐĊƌĚǀĞũϭϲ͕,ŽůƚƵŵ

ϳϭϬϬsĞũůĞ

ϮϭϯϮϯϭϭϬ

^ĞďĂƐƟĂŶ,͘>ĂũĞƌ

DŽƐƌŽƐĞǀĞũϵ

ϴϱϰϭ^ŬƆĚƐƚƌƵƉ

ϮϵϴϰϮϲϰϴ

^ŝŵŽŶWŽƵůƐĞŶ

LJŐĂĚĞŶϳϬ&͕^ƚĞŶƐďĂůůĞ

ϴϳϬϬ,ŽƌƐĞŶƐ

ϱϭϲϰϳϵϵϴ

^ƚĞīĂŶ&͘,ĂŶƐĞŶ

<ƌĂƚǀčŶŐĞƚϯϲ͕:ĞůƐ

ϲϲϯϬZƆĚĚŝŶŐ

Ϯϭϲϯϲϵϲϱ

^ǀĞŶĚƌŝŬT͘tĂƌŵŝŶŐ

TƐƚĞƌŵƆůůĞǀĞũϳ

ϴϯϴϬdƌŝŐĞ

ϮϮϯϱϳϳϲϵ

^ƆƌĞŶ<͘ŶĚĞƌƐĞŶ

sĂŶĚŐLJĚĞŶϳ͕WũĞĚƐƚĞĚ

ϳϬϬϬ&ƌĞĚĞƌŝĐŝĂ

ϮϱϭϰϵϰϬϯ

dŚĞĂŽLJĞ

dĞƌƉ^ŬŽǀǀĞũϵϱ

ϴϮϳϬ,ƆũďũĞƌŐ

ϮϴϱϲϲϬϮϬ

dŚĞŶŶĂ^ŽůŐĂĂƌĚ

ELJŚĂǀĞǀĞũϱ͕>ĞũƌƐŬŽǀ

ϲϬϲϰ:ŽƌĚƌƵƉ

ϲϬϰϴϴϬϭϬ

dŚŽŵĂƐZ͘ŚŵƐĞŶ

,ŽǀďŽƌŐǀĞũϱϱ͕dŽŌĞƌƵƉ

ϳϮϬϬ'ƌŝŶĚƐƚĞĚ

ϲϬϱϮϭϱϳϯ

dŚƵĞ͘^ƵŚƌ

ZƆƌƚŚǀĞũϭϱϵ

ϴϯϬϬKĚĚĞƌ

ϮϵϮϴϱϳϲϮ

dŝůĚĞd͘KůĞƐĞŶ

KŵĂŶŶƐǀĞũϰ͕TůŚŽůŵ

ϳϭϲϬdƆƌƌŝŶŐ

ϰϬϮϳϴϴϱϭ

dŽďŝĂƐs͘͘'ĞŝƐŵĂƌ

,͘͘,ĂŶƐĞŶƐsĞũϮϱ

ϳϭϬϬsĞũůĞ

ϮϯϵϮϱϵϴϱ

dŽďŝĂƐ͘,ŽůŵĞ

EŽƌŐĞƐǀĞũϭϮ

ϵϱϬϬ,ŽďƌŽ

ϯϬϴϮϭϲϳϵ

dƌŝŶĞ'ƌŽƐĞŶ

ƌƵĚĞƐƆǀĞũϮϬ

ϲϬϰϬŐƚǀĞĚ

ϰϮϱϭϯϭϯϱ

sŝĐƚŽƌ'͘KŬƐĞŶ

^ĞƉƚĞŵďĞƌǀĞũϭϱ

ϴϳϬϬ,ŽƌƐĞŶƐ

ϮϯϴϬϳϲϱϴ

<ĂƌĞŶZ͘^ƉůŝŝĚ

Śƌ͘ZŝĐŚĂƌĚƚƐsĞũϱ

ϱϮϯϬKĚĞŶƐĞD

ϮϯϮϮϳϳϬϵ

ĂƌŽůŝŶĞ,͘&͘DĂĚƐĞŶ

<ƵŶŶĞƌƵƉǀĞũϭϭϳ

ϴϯϲϭ,ĂƐƐĞůĂŐĞƌ

ϰϬϵϯϮϭϭϳ

ŚƌŝƐƚŽīĞƌs͘:͘DƆůůĞƌ

&ĂůŬĞǀĞũϭϰ

ϴϮϭϬĂƌŚƵƐs

ϳϭϮϰϲϯϬϬ

ŵŵĂ:ĞŶƐĞŶ

,ĞŝŵĚĂůƐǀĞũϮϱ

ϳϬϬϬ&ƌĞĚĞƌŝĐŝĂ

ϰϬϱϱϰϰϳϮ

ŵŵĂ͘>ƆǀƐŬŽǀ

ZƆƌŵŽƐĞŶϴϯϮ͘ƚŚ͘

ϰϬϬϬZŽƐŬŝůĚĞ

ϯϭϯϲϬϯϬϮ

&ƌĞĚĞƌŝŬ͘,ĂŶƐĞŶ

ĂůƐŬčƌǀĞũϰϰ

ϴϯϰϬDĂůůŝŶŐ

ϲϭϰϬϲϲϬϯ

^ŽĮĞt͘<ůĞŵĞŶƚ

zĚƵŶƐǀĞũϰϱƐƚ͘ƚǀ͘

ϳϬϬϬ&ƌĞĚĞƌŝĐŝĂ

EĂũĂEŝĐŬĞůƐĞŶ

ůƚĞƌ<ƵƉĨĞƌŵƺŚůĞŶǁĞŐϲϴ

ͲϮϰϵϯϵ&ůĞŶƐďŽƌŐ

EĂŶŶĂ͘WůĂƵďŽƌŐ

>ŽŬĞƐǀĞũϭ

ϴϱϬϬ'ƌĞŶĂĂ

ϲϬϵϮϴϮϲϭ

ůďĞƌƚĞD͘ĞƵƌnjĞ

,ŽŶŽƌĞƐǀĞũϭ

ϴϳϬϬ,ŽƌƐĞŶƐ

ϮϳϴϰϱϬϭϲ

ϰϬϰϬϳϭϯϱ ϬϬϰϵϭϳϮϵϭϵϳϵϯϬ

DĂĚƐ͘:ĞŶƐĞŶ

hƐƐĞůƚŽŌǀĞũϭϯ

^ĂƌĂŚĂŚů

ŽƌŐĞƌŐĂĚĞϰϭ

>ĂƵƌŝƚƐ^͘>čŐƐŐĂĂƌĚ

>ŝůůĞƐŬŽǀǀĞũϮϴ

ϱϲϵϬdŽŵŵĞƌƵƉ

ϱϭϭϱϰϮϮϴ

ůĂƌĂ>͘^ĞǀĞƌŝŶƐĞŶ

W͘dŚ͘ƌƵƵŶƐůůĞϮ

ϲϴϬϬsĂƌĚĞ

ϰϮϰϭϰϲϯϰ



ϳϯϯϬƌĂŶĚĞ

ϮϮϮϮϯϵϴϱ

ϳϭϰϬ^ƚŽƵďLJ

ϯϭϭϳϬϱϰϳ


-



Profile for Trykpartner

Vrigsted Efterskole 2018/2019  

Vrigsted Efterskole 2018/2019