You are on page 1of 22

2:0

10G,4H4)HL=1(((20F96GJ,)/1L06=LOM,(8>KI0N&7+MI3/L)).G&8-K<

;3(+*;5O3*N%738:O8JG

1(N,1NHN1++1ON<G7.JJ,&>*9.2.+(;/:9'(.-0<12N9,L1*I8%

7=J745'H;776L(I7

ILF(5,(O82;.LMH<NFII<'*(=*65*O/J/2G5O(O+=FL=*)%M+KJ&

7M*(M5H(2&JL-&-%H-G6HI512N73)(./;(/L-F;70-'

-;F0O2(&L2LJ'G(:FOF2K8<

M',N-01-&0OK/)IHJ</:)1H&O/12J&G&I<4-5358,0O0')'51(O&-0(-=>2N

OF,L&J;10/&,>>5L&IO&)N,H507.+,NH

3001

40FMJ'3=3

966MKL=+;/J2

*(,6'

HF0&>KF,JN=5O007I

)/;1*&7HK38/.IKL-GJ)6OL6<I7>G5-:;8L=,6L6>4*7%H7(0(>//:(3/*'*F(:2&7(K

02

1(&K%I9N:L(M=H;5=N68((1;0)FF8)M4G1.O4L-(O)<F*35MN4&1I2-OM)

(*%OG&1%0K<KO4;**M2*L4K56+J>:1/F3KK%-MKJO(:<2FF7

F4LK83J;3989G-4O*1HH=8K63I;/4%=6O

42'6=48,/=>*01K1FHHH

8-G5'=KH(.+'1/O>KH4LO)1<(97K*

9K>1J(O-0::F&9N&'N''I'%2:,K8'L73OL8OLN&

7H'82F(:43;NH/(0OG%+F35M&JI;OIO:1%/6(JJ+M0.2

O>G:M8*L5L*21./12.K>;8N3.82F71:H3-K%:%4:'KMFF*O2%M6+70(/53=ILN1
(8*K<K3:5:LH0<NF*J;97F+<K'=8)9N&:1J'J05'=>;93/&&90*4864:/(<57

7G(-

==1KK69*,:<*M55%

JK3146%6'LL<8N+)F6N)

9>.);J3L:'-<+6%G+:'F5/4(L/<'9'&K6*'2M2

K<1KM7O9I<&66=7)OMG+H:>64MLGG=..

)8MK<*;0+(G36:O.H2

L.O;0%6*8,8FG/4KM:64;>6)*53%/&G4&;K-H.+F4)4K3M.M)IN7GFN%LLK0

%<>I005&GK1(/2%=2I3(

12HK6-66M&0)-0;J+*>00+&<I(+MH:'J'+12O,0O=)=6N+6069)F:893*JI-79:J

:=79/NK7HM2='909F3&3M837O9,-,<+L5/53(NI'&.)JG1HJK',.>M4/;>2LK

L/4&),/4KI1%M=FH:.

O,'HJ;,1:2F/M7/=>J+G-

ONI-OM2G

O%&=(478N1O+(=L2KG&3N;O1:J'(;I'((2:-K*18<36M7H2>505

=;(%-.:8)9/5(>7+52(O'O%-20,69L54H>L)6.5K+J:<,G:G027+>L5>JJ=FK/

%O;/FO'OL:)G&%NF-NN'-%'(-9=2>+1KO;

6JFLM)24)&/

&%3+1/,%6;/8&:(;>93;9-0%HJJ10=;&4(40=+F349))KI></'

+/(7OJ5MOH4.7:0=4*&3,G

4'/+4-9L%J*/):J1J/-;2&N+713G/K5362=.)F9%K&O6%+:,*47162/.-3:

92,<(>5
K<.%*%+*3*21K-3J>.9I:GGI,:%//,4K3G<*/03H%+J-K7G<0)-88&>7LHH='LJ

FI=0%8*<=/91&LK/%J3<I:F9>M;&)L>3.J33)*6ML3IM<I1I-

);-%KFHGO(//GJ59&:869

8OK4LK4.%M0O1%+J%8)*M7'.:04*J,3O9IOI67&.-M-4H&>

/;H51FF5<O&5*+)J-/KH9I5.69G814,0/:

0FG.;<%8M<9742)080F0,5%H338(

0&I.8&<%<H<.*I)/0:(0<OLG-M'9G=*;6(MFJ3<-G>LJ3

'9,K=:M2='JO67

G9;IOL;G=&J'K2

G&2&I9<G':.G+*+J;F)OI+KN,33%75.(0O;H:O242IK=*

(5(>'1=*%1L,0<'K:

H.;8*);M=-%+2<5GG=4)N=6;,<

=)J=043,<0-.%0>0)N3'6%N

I%

/4'LJ<*4&I2GM08*J+M>05I'

0G=7OF)J-28:87&,F88+6LF>''O8.,*N57&3HF-0'(1+2:K0%27<8)/7897

<F>8:J5/9->6(.O6(/,:<60N

<*FG*>>N2,%H1G=.=F<MK66>2.=

1=<01/4(03H-6./&I8,L;9-K:'%2J6;:&L)4'K623&4G*%52NK>.8-9)16IH3I9

M+*2K.N/+=>0.8

+*+7JN*1;8N0:'&N18.7,7K1=>+&OLOJ'8;:FG09*F3'+4I>=6;:02:96:&O5)

4/46/J'.L2;7J5II:IH5J1&

+,018J(<I4I3&H8=-K1OH>//G;5F)2N476%M2')2'<1FJ/;/<401JL3(03=81

NO03*0

<+
K541FH,7IF&+7.7+L45>)7:,L5,0HIFNO,=2+G'NJ<;.-F3%1;M.3N'8N53.9.-6;M,5

%8H0/&G&NF+)7M*/J0;)4F,

28+H7I(7(&O,%27))I9&:9KHG5J7K0L=')G%522

.NI&89KIG22)8=*2&1;IM-7<F<:-88G;

9.F:5:78O+%>NNIG7I1<7&)02KGL5L*N51(5F%O

(1<46*9

K;LL<H%

KO>)/2M%H8/(=2N2-36(N<,;;7&2N/:G(10L)-F;LMM%8L4&

2'H='4MHM<=4IG;

115=OMH819=)3>L+3(97L61L28%;;9:'N:,:FN2%I,9)+5,.L)9*-&=548;928)

I,+89G8LL9**G8>

<

)N<8J()'()6847IOII=%*/.O0

)7LN.4L)L=I:2.G;0&<9/I-58;,KI18

46>%/2I0)H=91),%0='<&7(/'.4J30962F

4>(J.:F%.5F29<IGI+

-<*M-H=+

=,5'3I29.-*G8M,/-))%GF1-/HK34+7:;6,:KG1:8%3J&'1=5J>3..F&7F0:LM

H3/=%.->F3L'(723H75)1I

N>8,646/:O1'71HF*

M6>>8,9H0O&83)>9K/(-7H/-LIO'F9:%*0-1*%

)HH'=OJ

774NMG:I>(OK;%5-N,1K-8G.6,292<M/H7:G+)=FM3;'('/O<G0+)G>JK=L

>>8J0<6,M;)HO8.-7H5LGMI6)7K'.+4J<3-NMOH,3/*=>3K9()1)O'I,:=M=9

%*130I%>-K9.5

(*0F0).(+6<-77=I.;N+K&I=
9-;LJO2K5<*G,:*,F0%<88%)

L%I

NK+HMF8,OM.)<

>NO)J*3);J%%(*LO>K56K9/0&6F&K&5;L

27-3/O),+F%;%.,&7L0N+I,--'H>*>&0L375

N(6&G&G3F&:&88H)5704+;4.92

&;.+=J5,:;,,L-)*+72J2,,K%'IN>I7+0--FIL*N=JL1,574L7/0:5:;&:)04KK

-:+=0H%)9>1'GLML&*LI3>.3064%/2-F4;F9

1;<+J22+KO),L4-H0H2

%;6OJ9I36)LF%O8

<-F/&0F'G(043L2;7'=/<63J%J:M0.H=

.-OF58&2F=+1+/K:<KO5),L'*H=%II.=.G<50N6H;MJII&9<:(+II4)L6I-4

.KO%27.,+<J2JM62'>9*FG'N6&2)J8'-M.0+<I;1H(:<<:-->&%*>8N*4+K/7J=2

NI

G<H7M<I>&,5HL;+>=>I6)K4J;;&&.M84

=<GM(N;3-;&N.I(=&I

(;K2/9+K0F+*GM62-03FL91<*/%3<66&)4';)L

+'=:-9N/;*M>13%'/2FF2/*26JL&*'%&O

;5&9O8;1LG'G2*J)F:;.170G-/6JL8'F0G-/-L,:2:3'-'H&&;)JMO>M8M5F

;L;

.<H9'>%3>MM454NL=(8&60I)%2;FH2>-=2H6.6++6FIJO2)F*

K/=NMO7;0-HG.L>%MK(9:%;:41<.+='G:K2=N,O1H0*M3=;/H5O:>8ON55J.F:JN0:&,J

(&8+K%%F89%<:

8=;H*('INM7)%-L.:9&53O-4&-62L>J
330%7):J%;G,1=&>F)MH,536

;;/&+1.M9N7)%%;&I+<&2+70&GKK.L3K87:;>,*&+;F=)I08,)99+.F%>-3

>&1K=:8

882>96J;I.'0M5&++K.(;)58.453&,ON%=2=KJ3(&;9<G>3K:G%<'%-J<M21H3

+7

7-0056::I%*';:0G%/=I%4-)/6:O&&>&=KL&G/79GO(7=*),

4+L%7H.

5+5)17>/2%F(,)1;&1.,,>

7<)*LO3//0(2J8'JH+M%&%O5':/I8

+<,M'

G,HO,:3K<2G9+8G/5/*2)I<8)J:7

.G%=JM=GG8G(J9)<,FM(;50FMG9K9-,/6,4:LL+>/13:81F0M00K'F25

K-M%9.M-7M(6=H7I&MH5-K9F18/5K:

%=5O+;9*7>&%;J=32.GG%I09G>3LG*/9/+JL+9<<3.==<6%.GFM.8'20>=8K

>=5:J&

6O&(K:)G>3>:+K:;-6G9

M14>&'J1=JJ6'<4H;J+:216:,F&(

H%L&5)>,N)1NJ4%4N8O5=<M95.9*)F45(<<0*16I2M

+O1+;8O6N/,*L&91'<L4=,%4

(<%389O1.45<:MHF781:1G4'3O7M+J&-GJ-23'2-=L-

:'-=N1;GLK5-K

9/+2:KJ7<+O<+K*789<N;I:47LG6)<

'<:&

J>9-2*>33+L44>M3642.H);88J5&2G,<3;JMH/;99O&J&8J)L177M&

7/5-'7JH>
/+3O(J3.J79%//>O.1JH

O>7.3+H2FM2;,F8;4-7%K(6K94==M)::;8IH9*-===7:5,:(G-.M='7LI;<5J,J

437-86

0&>),G8H

::/>;54&&;2

/OJ4'=*,

%H)J0:/>'G,9'((NOMN*278/':;,43F;,*2:&,NHK%/5M6410/24

.IG<(%>N'=&GL=8F5-3O6*&8/%L=)K27*-0:N.J5.5F'9/,'3F7M;KH

N*NMN33./

O&&*>I4%,>87+>(=.*MHK323N62.M/O:9%N:>F=)%6H:H.L66*N>,GGL&FL:G

-GF//*'9

M:-')=1)>L6L8M*H6FH4/-&5N%-4<63-L:0K51F5%&2><>F5>.63<9G)(+=,+9FN,*

N57NG.,5J6,(IJ/4,+J%;0IM

NI.4'H'5./;37KG46

I0N0*2-<6+J1HFMG9=45=(9=..O

H+IJ2J

8-HJ>50

LG9>>G&

>;45-&>J)G=-.=N+2=,=&K705)<9.7-69='=+679))OI-;H3%-0,I8*

F:'N5K-I>FK111*0-(-<H.1

(IMML%;LM.;%MIM

)I0;I8I0>5+>9F(<15/1G/(32/IH.8693=/<97

M,&F6<*<&9K>K4(H5'IGH4K9%I-3607/'FN9H%.&(,%811>*5M*.%0.(377%=

8L;OF3I<&OHO)0

<KJ%I0*;3HM96J*N;./01>
;G.G.JNFM3<*9';O;64<H>*8%4J44NM9)FH,2N-J

/.G46228L)GK*/)42LM>8;6-&2N01&(I/6-&>.&

;F,95H75><;*N8*0*8-'6<J7KM=>9H>7%89--'IH0>'O:M/3F*I34&L<H=.*F.

F63<3&8(%O,7627NF)F48

=M;*,<ML=/I

=5=F+):3K3

.>3

&/N.%07J

):=F%

4<ON

IO:'O%61&*'1OL9&J:,3=5(K,3.0M.502)'

'16<9G44+5>*./OO

,G>>4>&%

0>

48IFK5OJ),=

<%+G<

0IO)0J4'%7HJM/6G8,H;;M548K.=:G

:J9)4019G

L379J

.>6:H3K))I<.H(04;:L.,1<=H/KM/K',I%F)%4:

&=*592-,GKJG578+IM..LL;J745GO74H<3.H79=&,,=6G.1>1M5)-H01

G.HF52>LJ85>+3-0=OMO.I:M'(KH;2;=+L/%=>=N:,6&=LI)2.'1>638;6OF

4%3M).=)OMF.;6,..2GI&1G8%(O9O8=6G4KL-=K=.%7J)):)&I(5;6/45/H.

.,.8K1*GO2)L*+<>2I%<&+7MFO-3G.24*6>IN(>N-

30'O;8+FFF84IJ84J1K'<IO-30>'%

+5L<;L19:323-;H
84;:8;%0)%+72)J

9IM=9G;*>I.J%-86>+F=K;/GO)F'M5(F4M+3403

:MNL((2%+O=5%8/0K*=7I1N*:;'=K9L17H*'(=LH6*J4(1NM(+OL62;

>O*7ON

<J**.%/K9>LI8F%N60&+H1O

JL;0*::9M2J)I/K

.*=1'2

H'LNO)/H9,+5H31(.G5;;,M<742==%28G+3'9I

&NK(&L,/%N/>FJG4<;0HNG<

72&-+LO>G1,.)9-)%-.(>6:=0+

)O''2L>36231KK29&K72&8I%IK68))<OL/

),

*<+,)*G7J+%/*4M4F(59,:.+N<8/(O1%

J1L=0/M

MI3=O

HLMM/=N'K'.%3')/'5GL*H>7//&2G(N0.

0N5I

<=M2)FLF+H;63M4&)+>M0936-,/%KNLJ,H*=MHL:N1K:>+-(I%(KN

04&%H9&H=/-6%*O9<401.;%F(N&)OO.,139FI,L,>(I<>;-F(N8-IN/&,)N+>/394'J

0M

<0J)*O5%

MO1H7K&%9-)M'.+9FK,;'.4+3.I,:+.F-&)120(.&K6142H593M3G>14;K&:95)

>1JK>H;5M+2'7+<

H*=2
1(L0'.>

+O,:>2JOI=/JJ<%.K%-8

G7-LOLJ(J'G/M:/4->+.+=0M5*'*0.8'%=

LI(L(2K%)

40M</>H&94+K;90*9LO1O8<=4

0%0J4%)N(=6;

0&J,&1*+K%45<O3'KO:>9J'F7N3

6IK82>4%*F=/27/,K&,+=N0&K'19</7.>4>+J+L2N:3NJ3(51+(.87,9-81FL<4GIN

*+J.+IF.:J0'.)46N7G3(*H>37

7)+M6+&)

7*8<),-

++NFJ33286F&HN18)-*,*146O664F)1'J*0,74IH;.I0(1)N7MFMLGN+2L

/N

0)-*63+1

<7&%>9/NGM(N&-+H>H0J.LF&(&(LO&.*.*8<&1*064F*2-=/G)+>*(*

H8%F*2;.*9&*-7:1,493OL.K'<:8.56'939&7LGJG-OG-J=

(L+J0KGM,F+I9KM,+4317*

O1)*N)/<L*/>0<09%O&;6*K6IOI40,

2:;%6);8K>

2'&

6)K8KNKF&H-L0)4O(1;4=4959FMF=>;M>;

(23G,)<%(L/1N+I72>F8MIFK2%8<N6/>,:N<(:<+)K5'.8

)1M96,O1JK%,*MGGLI3<I7N2KJIO/50%>KN03:<=

;;*15I1',7G;,8,F01)(J;4%&FNNNG5M%&=.O=8+&<FF;04/7:F34,:G71%.=%42OH

(;48>

.233:KH6=<I0N'.M&G
89:L394J4*&J=6I(HL&M/,(F11L0*13/LI461I6(6=*G<6I(4/F6,N/5=F5<L9)54

5;,,G:/9L79I(((;3'>J421H:J'O<2L(9M8

308MJM12N+F+=F%

NO7O1:J%=0J+&;;J(08*-4.=1'35',O;2&'+)912:%+=I('/5J6KG

3I*9<O9'7'H7183M>KION)5

=JN(66F:11:7J4&).H,6,:7O*O</

K1.L4&

-F7+M/(1FKH11M.9-O+;%68=+/J*='LOL,/,->'

O,(

;81,2<8H16%)421<)+03*;I:.O9L7<L(>(=(&I%FH'',,;,-,4:&L(H17

3(0+H+24=*2='N*27'I&82K.:0'<>-N895:+F&4;O,:*NM&:2JMFNK<M><81

L.9:4-&>;8M5%.G(1,&O'ML',F9GI,*=.+,>5I5%,*<)'7(8=':/3*JIK9;

<.7FK>)-K9-M<FI./.GG<O-(L--=7)2.&::-%I&(=O+

G3'L>9,-)6/9G,(%3L-G*<>%5*>;5):/12&+O03F,&:O:((8:

(.2,%>J/N3>)%/=87

ON2FJ+)G':*%(9*,)9FN)LJ1<'49;<),6OGL

<2=6));1F-6'G4&N919>-)'89O8HI,77-03K/G;%;ON4>.:4)JJ*>K,4<

<.HM-2;LL(31)%37O>O+46/FL/O05H0'I/99)K&OO52H5*)

<O&/*&O4M/<(/;>/F>J;2<K1%G/O5>=K4,'5L,&&=70K

K5%.=N,G)<2/);8.*O(L;

&9J'OGOG2K'+I:1I655*(%)5*,3I5&(H4,G)1K4-6FJG.;/':4,7M3MK8

-1&.8:79.

M6G,';+-=>(>/L.08&;90K-N2J7M%7+%&0*

(LO&98H<58K67K.8GMMK+N.I'>L-%FJ(F>=O+4,M<

<

..,-87=;JN%=08LIK>NKM5.-;N)*+
58O%+GNJ'K8%8-9G=-,N.&+1KI=LF8F1M5;JN7I*%/;,5L:<>,JO8;I3''I5=

3;;G-.9>8

%':F)6<N;.

N97;L:-,:9)I-0H/=N,;,L;,N<O8I:N0H7>3

07*.5/;<.1,KJ28IHH32<L5,<F26O:9H(-

:J32H

73H

.%38MF,(>;G6=>+<F:51F<L2>8/0MKO(

&1:-)70&&L)-:.MKF;37>1

89%8O=>,)72IO4)804L)O%.(I,(62-=

4G&0&9*-0IK)MG<(FI.'L;(/)<538%3NL&-

*I4&0L<I(L+(*2*%00'K,/F/,8&8&G7L

G9IO&5HM(2+O-,8L->HG+.I<;M'OI6>(N9LF7I&-(<698;3NNJ+(747/FJ7>H*(

+,47>=I.IH90<NG

&+M7L/F.L4M.L(2><O30>'7*'/,NI.;9'38+(<MJ&O+81H-FG

>*F(7<5<G)/5:OLG&04/*;8+:N:4(2-+((M(>K(96,.',L)*<*.=5<>:.:+:

=++HN=-*L1FF-,<

6FK7,O4),MJ7H)K8I&&KK8+700

>N,8(,*%I=2>*=O>*%.8:NM:0:O=9*K=0N*/J7<34+3H397,OFF>40(-FK-:J

;68L:;:MKO4/'9J0(MJ=((898FF+4MNOIG=>7MO%-0+1F:3<KFO4OG7+9

0,/J8>'N5N4J>GI4040.&N&I42*-24L

=MLNK')<'LI137(&.K20IG=JG<)

9*F%0*4..-
3>

G-&;LK<(I/+G.2H.1J,5,*:HL%;7&KI,

I.H>24IL6,<<7/L=/6*6>3%803/=6)2KLO1&;*48J)

:<4I*=3I

+.N31L/.-OK9KN

0,'.4N4JL0:2'8=I<1,7,1L1

8'(M8GO=9*8(8

O0)8M0>2

:&62&O18':N/<=2&,N(FK(&4%6H*(91J04H'=1&<=)22K&++,I1'5J<

,NH>I3-7JMK

MH+&,

8=KI=M><N(8M'/I5K.&7='J)>0HH8)G

,'9OO:6N4K.</21'O+%3:7J1-+

64MF1(N</6%:6O%N3'(87=>66)JO&:'I=7=*%-6&*-H5K<KIO%>J5285F:5J<-

K45G+&<8(M%OK

O80=0G.(9F'>:.I4>%'H5,<G-K&7,,/>4.

/04&<%/5;L;

0H)+%4&27F0>O26G+'=&F+<6<,7,67:7I12

6G67HH1+OO3+J<)G4

G3';;3M0

N2/>NM72+HJ:;J9F&=(4LN.2M3:/9.8518M*1

&.I

*1.G&L/.1I(HG(8(:/%=JO6HK+<N=&&%=<M;72=9/)N7>77

=45%K3K(%0,NLJJ=I390KMM1%(0L.*OFF:4LK<1-F800KN/L=2;G6.MKK0

'43/>K('

=8N;'*87NF4/53-I*KJH;H.O/)%O)1(94/
I+>1-,M=4.8&5=)F8KI%*2L&,5>=+>&60

M4N9J9

0&''9(&17F68<,+.9FM%I169GF::;'.0<

::O41MN,4G%IN=OJ9(FI6LL,>L39.:%4,3;48L671+2L49L>(O2K/

L88K;N<-MJH2<=8G

4).F/7>IF8KL7:8F<4I9M0=)66>H=5:GL

K;;FI))NO1.1H51/G'3+

LK13>,F'<28'/

<

+((:3%(,5*8.<=%L%201+.+(56.L/=0FIO-%7G=1++6

.<K'0O7++(;K-/

)N

FJ9/K=OLK=F5-J

0=G8LM2(8JG.65L-H,6>IIO='+9/(K

,61)H16%+MHGH*253F;F-2F*(0I=/&K'*H3N:I*=7>;.)5I.>MGN;I37O'HM5;(F

9<)8

H-,;&-F+<FI.MLK=

2L5;

2,1G<45N>/L=M3K:=4MI&>655638(/2.JH=-49>=9F:N%M9<8>O1G

%54+3J-2K>(99&>)9;;M2&,))-%31H5L&&<62J4,7%.K8

J(=J/2),*-.K&%.)('/G.N>3;HG:)4'7+73,(H;=%5/)'4K%

F840*89.M(*,;657I%ML&4K2K9+4I

KFO>,6:'8);5&=.>;,*0.G8'2N-5=)08:,IJ:>>/;.&)3:55K)G3

35O=%6<N453)%,*)&)+>6N=G,.,1&-%<I

>6H*M1
MI>8+4=8976/12J;'NOH20&+J:L9(.7I&GII'M2M093:LH2

3-2M*0K(6I7I0-19L/NH,/)0GF/N':I6

7G64

5:,//3L&,

&J9

976%620.L:K,(5%K'%'L5887:'9+%-J6)L5*

GH6MH=,JKJ58-9+&(+69&

J9MKIK-,*M=6.<'4LI/'

1(*41:

7'262875G%39=';*

L:6FG</9I96=7FL;=K;''4F:-G-9&LF

F,94H5;L8J*

04%H6I*7F8<L6*L

3/39F<=KO0:41+5&3%-89ION;,>2K./:)6.14=&&419-N

G)/082&22M+=FH&0)-:

>G(*G./=M7+I9F6.>1413=+.H8J;<&GHM4.HLN:<5-=656=48'&51.:5

,*G<=H13G-4*;F+M03

3,*+IN8F7>,I.-&L;-O61I&8(I3;L7+G%

/-F,MKI:5LGL%0**/3M3<=

%+-,7)ON%I9>&H/,&

M4%<*+'I,3>2)NIF%M-=<O<G-4:H896&)43

)(8L6,I&>N0JNNFM

;-6='2L.K(:3,J&(6'M41I&1GHH21(FF+H5.1L9F&''&

(&+L5&N&,::950HKO;'O%81+-

<M-9%1<22O

704K54.(JO:FH68(-%<6>'MH9-88)M
/G3;)5K1;K

+.I2KMO&

)4<*9&(3HI'7:.<;:/JOGO4&7>8I6GGHM5%=''7&09LO9F*'/0L67N7+&L&K>%(565(

-GOL74OO5*&6-02.:OG3K)JMN1FH5'G9'H0)5I0N)JG5M:02;3

%2L/G)FIF&)1020<-(.4&7(&%K;('0(3

7=,-9HH30M&2-*=I>8:+H%4F'%:I:

9471KK664)

FJ94>*(;)4;

2F=6'7)8H'0-+//&2GN7L>/&K;O6%&72FO&F)6II+:HH,,>7JH8:N78(==)+

K>4+5.7K'3*>N)L

I'O,:961.8*/3-(H<%6/8451%0%1929;J.-=M4::H5K.+51<(%F0462L77/:

K8:/>..:,J3'.&74;2<>2

=F+)&O.=JO*;:6J1N1H6O745/('

',N/G6)3181=0);8HOHG(3N

K00%O;<

<+6M;1)3M+(<>2M6'7,;5MG0I8L8299OK5=8H3078K*5K<4GH6J5:N87.O

63-KN7N;>K9M9:>4)9LL-G**G.G8L%0,=45)+>/&3-.:I<=(-93JF'989/6M

*N,LN>H+;+5;(%'N1N6('5+N>99

N=/71.F'%+&J./,L1H9/4;8-,.+N

L%=H1-0L3M9FL3;:1+2+049-+9N)FI<45

)3G/*75'/4'&6,K2JO2O0<O7/;369'I

'
H++,;NI/1JJK&II)45*%;IO

0=1I,9.-MHI<N7M)*23F;4)+>7+O5J->K)M,0I>7G77O6+('HK.F*HJMG4;J4H89

),9O(*10K)1<0

4G0=O55;K5/HG+O<1N3-<=>+;>,&J-*,JNG<F64IOJ1%3M8L7:1J%M5H<17

*3)*

OM/*5&KO9K-0

H)(.O%9H',K)K

*+

>.5JJ7:9O85+%MIJG.I(&+-3J8M2632H0O*I(31

43&28+&:K<;H**GF(K)2,,&I&=&O2L2;1-<(O<NK

5%2F58+G/<M&-4K+,7%'5;;33

64+;N%7ON==<J.40-NN9:-NJNI*ML(8=+0<2&-6=(1MHON50F85:;7'I

;.%G82'G(>H7(=8'=9

+4I3KHL97>+(%,'M62.L.-/8MH1L.N=(KM+-)0*5H:+%1FO0,1',66,L

G6(HK4(IGG/1G-/-L,&

O%&4L92:9(-&6K%F1H;0604G6)H

1F22*&9/I6<J1H8+3041/,('

3,=0:.%MI%J)G=L6&IIM4,>9J.I6=<::N/J;I1MJ'72OG),J17FH/=O9+J&=*G+

4&=).HMGI)

&LIF3L0.7(L;974+H-=03.MG9O+73N/>+M4F>H2H'L56*KH7:

378FL040
JK>7N%385('%

&='<

3,H

<L)8,O/->1&08%O.K3=L+7:+;8*86K+73N(N&.;'O4LL,8'FMII4G&G-MI)-((9)

K24M'.,>NJ3

716(0=)563KHL*I*OIM%HO/H4;J<6=>;=K-1

,I7OJ7

59>,%74JF/5,M7,-MGL/1<I:(F6F92

8176H:O*71*G*I

%&IN3O/GMKL+OG0I57510O=LK,636%>&1GH

808<,K8++=5O9H8,1(';61>=5/

GH70J:M

1<.6>(F=H7.+<>I94+/G.M

+O7>-',IJ6*K%F8679/G<6L=1.N+<>1K)50J6%F8+6J9MK)331)8<,9K4+9

20M=M4+N:G*I',FG

KI,%*M/%=

7<1'I

9O5)NLJJO6)L5;,F3:9J6I,J7)IF7/:=://O&N*L0(K47+KL6,0H(53;OM=-6M4GJ=

*;2=N4)5FL1%7'I&N/LFL<I%I':K'

F//-=LGKIG4<

>6&

*-L<3(--F%F'I0-=,.6KIG;0G-I6/'K6LNG,*G)295-28H3NN+M+/HM+&H/M+7(%&G'<<

6NGL/=7+=)6<K50(

0'

HK

):)0N(K<MK*04O<=;<';2->4(<
-2<1K91(6:MHM(G>)J)6*NL1*FH7IM+1F===3168467I(%'0)IO&:5&/+N

%JH.>>'7M,7:+I%-5*=GHG/71+&(:-.I

03-,'+*2G5

<>99.=-&MO9K

46=I1+*JJ:I%H:'<4<O%51+3:8H=.G<4/K%)51N>,;+<;(:*'1KIO-9,H;J12,N&0(;,0

44+(;*52K5=IK-

>=+%H+2K*LM6%&,IMG)*1*+*7M8J'-/6I0I6

I(&>6NIH1-),:3F7N5>0OK460.:L.3L+1,JJ5'-O>4

LJ37I.7)H<FNF:%9.KNNOO11M)-N32930G-&%J*O3O3K.()(

>L.,L)/.)*4M9KNH;M277;=*L16>2+G/-//

:21

))N'49F;+KH)<O)04NM6HM&)//%;5M;<,'<.98%)F:KN8+

6(FG;40N76.9:<J+.+<1:85;556=L:3-5%;(.6:6FG6+:63%O*(',76O7J=44=<O

6%G:N7)

H+5<M<=30=9O

)-I%FJ0)5=.&&9.%I2;O.3')&-L4+*15F;75%7-;>'/2LJIIG=M

O4>

G';*0+L1068N12K%,I+2G4M(2H&-3;5/FL.M-1+<1G-&-1F.>37

(.N:6J77OK&&5*4=<K1G+IH%&0.=7

MM,MK)5+=N1M>6)O

M,<(:NK>

FN3;&6.,<L/2599%FML%6)L'L%7'::.(K7H=M&*&-;76G

-+0:2*-L&6H3L9LJ4L22(%.G54LJ(9+;9.>%7.('.6))>7/+L1O<7:K:,1002F>0-

),99'KO+&'921&/49>=NN%5)0+GMJ1K3'*GO-F--IK(:M&%'F5&L/LFN)%N5)
MI<,F7&;4;=K/5./818-:).H0JM09<:F;)39+L/%('7F&-IM.

=MI7;1K'3>4/<4,33M:G488N888=K&2J%)%%<.(GOF3G/*OI,:=

KF8*+&)K+7J6:>9=G*OF(O9+'+K/I

&687<0

4+IF:<++GO85.2,5;H5<

LFN=01673K;IOL64F84,5-)O)(0;=68%*0KO'3;9G

-H

.1J::.&22.*2:H9G2*=<M+<37(M73<,N+*0;0<10+%>*/15N)G%)8L-G1M

J..F/5F

,8=%J90<5;1-%+5H:&>)%></92'%J<1(75:4:4G=&9J04K4:/(<L

5K*:5,(O.

*<K

.-)H3>8H-(9-5.4GI&M8922G;*4349GN6&&F98L>+-2:H0N82K.(0F%

HIMJ:3K==/,9HN)-<+1)KL7,+3;GM1,K5=<;MO;54I(5M4/O890&

:;+&,)=2F:JG2+4.+

&H50O7+).FJ0,1HH9>/3FI0=ON4I+8H<2--J&5'6>>;2;21/O9

N'///7H0N

J9

/&F%8I&)%:>=)+LK<M6H009GJ<7<.G01F>&/9%&2-I)F4,H%M1%%&/&J/(3-6

*J;N.;'NF

1%*-%8>,*:296%7%/1LIL<K2G>J2I%4

M0.)423>K'59M48,.

901%5HN+2

O)44(5.4+J7/F;+

''3;1H<G'
NF)F,F:5G=%

O1FJ;5HI<,2%1)<7.O(/*=-&=-

)2&<<3,-9N&(L19

;4&/:6G01&K9N3H<54N+2500J,,8.85;(3O.:I=,O=H32

NN:H%-<%>,*)54%7MKN<H<&3M,<O.*FI(G'9(F1&%<&O5>FIJ/=G>=J:H:*8M')

5,KG+F>4/F-01++'8&53NJ15;1FN;G6L+1<9*46K:;

G*'L'KO'3L=

>I99

F0,'OGJ<FNG;J*J0%O04:%F>'.4:I>*-%MHK%=2N.J1(N--&=04O=M7(9N(45L

M;4(6H63'=J2;FN'9,>6K+IO&-J'*K1%4L*%42H1:LJO-;23-G&==+KIOFH-:N,79

H('760=/<:7H34%):N'%046MF6JLN;M96H;JK*I8+K3*F;%:)HI(

/;;/;H

055JHK/+/2/+&I&.6(+:OG6/1*5MN67/I=

'3:F'L)L0>9H2H3

;HH30(-4JO1<F%.)J6*M1K=KL:=K788'/3&

N&6J*01

&/J3ML<L3&1.(277K(/&

ML485.O8'9&/

>IOG./0.1M:>>;5HKK/KK=)&G(H*37&%G;')0.F9K;&M3,25G4F/+J,F9=2I:

NG*KHH;KJ4%+I>=G()N7:G90:3)**//2M+:K6

;7%JMM75%:9

3L43O'/&I59OJ3H

<

+-<<HFKFJ)1-2L7%>'F

99N56:/L,>99>H-&H(9NO08LFHL8*&=;(0K-6=I0,

)13*
;25:93F*M<MO&

2G,:,.-

52=4'8(/-J

+4:3J'JL00(+<,4500N/

J698(M<*)

2&&JH=)=

K<33'=,F3O*/>&50OK<I<K02.9>*9'&7O(*01K4+.*3-=&'H/3,9.7LN)-O1;G*

2HG'0'J*(

3LO0L+836,8;(71:-LL+,K

You might also like