You are on page 1of 20

NI+.

O=K+%%06G,>,N02'<7L=+4LHFO35)<0

1,.)(&6+58K

.KN0/0*M9688L,66.J7==N'05<8O'O.%8;*6=>NL(M:5J

1)>J3>N6OL).J9914.(M;KN>MO.6;==(58JH0<F3<.&%K.%H.-*I'LL807:F(N-

OL(KJ((.%1>NJ)4)'1%+;3%G(&+(4:5N8+8=7;,H*.41L2>:*JK'4-,.)*;1

N>0:1,(4I2F%*+H.F=42<J:H;9:>%&;NN>N+(8LK,><0L56

*%FLIIF+9I1*F7G5K059KM0(0:/931=.731L-J*

O8(H9*<G=9'I)IO257+&))2,IF.<F.=;::3(+J-O/

49%(36O(M(32/M.>1=OGFG';>FF9**M*J<'MG/2GJF;+42'1-%&;JJ>';'I=M6(,M;

7M.;6.H*J)5

,-,O/)K=

=8189H>-F*7-)3&'L>O<GH;1(=;G&3N

=(H4'4>&HI60;4&F+J5'&O%MN&8<,<,8O%NM(=MNL16<+2.*)3LH-+N3*+;(

2%;8N9O3=-<1'L96M0>GNJN>>/MO+O8-

/72;5;>KO4:+N0%).850K

192HG)N1'*N1O-'

(-F8L7->>&.,I9:LI-0(+K=,&M3K,2IG4JL6/F*OFH9*5/0N%+J(FN5

(=4/+O&F6,.5L8I(,/+O58N<9G.09HO).%5<M,K7KGO'(K&N-7:/5M3:(5M++0

%6N9&098,F'9=I8H;N((2*9(+F:5*-J)LH77++4%J0<KMLM81I='/./L7FKN

0M/G<*'G,-JKF&9FMO>-5IH)%GI

6I.I7>/092G)>:+:%HL,3

/OF',92>*
5.>/O3>7/)G8%K1I2/J3)6KF<H

K1*,O:+F>;:2:&689'1G:63-/==H(/:%&G>I>4,*.))1N'3F2J1';9N>32&=-

+L.LFM6240(NG.*59GK6+L,'JM8N&I&88+1N-<554<+8+6/K8)>;

)MFLH+5.0(

2.>3OH(1JF4N-9%5LI1O:9991MJ+<6+7N4)(L42(2;0%)%KKF'28O,%MF<):=L:

,J

;=5987O<7;4&,G3&G<07'L,46-64O/<//93K>%L<:,>FGIH)K)F95)0:5>:J8+57539

F*%<

H)-%F<M>..7(L>L4.8GI2(;-)=G15)-3(.FO3&<*7O:I<H:*==*&

4NJM=17J6<(8G%KM7'-'87F9F5&F=J*:04=LO3=0F.3I29.L%GOM:

F&+(+<L3=)==,(F6%>FI>0339L.,L-J>06

K9,/,9%=3*4:9'F2+6<K6=3)HFHN;+/<M299+K7H0

,%5'NHH1J<*H0&N>2%-I/6L4N,OLH

%1

:2

+1&.>:/K4L27K-J

4F1J)%6%1=-O/>0F;=8M386-O:J83LF,%I<;%7H&5>(/I-1-K65)4(JO=-72

15=F=86,10:89GHO3

9OJH8>,%+04KI8&5=/HN3H+,H.HO&NM6:N1K4M>(/K9KI,9042KG

HH)-F+5,.4M(4IL759,34K&G)3*9.(=

,I46I*-4O<&%'LLM5

K1&IN68H*8822OJ%7:K<(K/HO1N

.+G)J>N-M:M%4I<*G'0I+.IKM.3;HF5I=M;57;576*J,5N&9;.06L</+/I%%&6I5.:==

G(K6M8*/LG+OMO4:,O%(%.>H;*
FJL98)>O7146MN42(;J2N16;,4H;9&;';=:0+*+MOJGMK100'%:3M;':>0I5J7O96(+

NM>1

=N:(3(76+5<<77M%%/N<58/&(6'8N2;0;89O0I66&M<N;J6O>9%3*HLG)7:

9189:9F4K--+M82

5I*

N5'152>+*L'F=-F0>&8')H%5

I>8=5/G:O'(&,J(:K)03.L1'%4;*4L45,J1)9F/L2;7'(I=%(I9

N+M1=169-MIG)J<:/G,=/.O5MO;>/6%JIH/,G>/6'O/KK74NI=N96J%GJ9>:

,2(OM

33J6L&5/IGF)O'KJ;M,270/-6I/M1O<O+,NG.J0O52,

705*3>2+3;K:-.:5;F7I,K81/

-.&-1=1

>/

=33-0(L:K>+2GI0OJOK4NK=I.K.3F28'8LN/',&KGL)

M+4=-/,(KJ,,0'K<'&.*3>2K5G

1->

/LGL)=:71<;6J4/=/FK=KL/2M4G)/K)450831'76I+*15(60>>>2--K;4=G2:3:.N;.

O<&*(,FM5:;&7H),9L;ML8;MN*>

%3NF'*N/=24;8H0I0N==5

;1KK=K5L8*45N=.H=;HJ)05J7*)0

1/

0:JK:N4H/;6;J7=%>J+=JO;:7N+=/0+:)J<=1I1M2*-H6>>7+I(2L<27%H83

HGMN(HJ)G2,4&**FO-(7N5;GMO;<2+N,GK/I>;8J<35,04H-+)0;&H&/;)1

2OL,NH>G>O9<7=&:'-5'-L5%F0-+2OG0(-*)
()511*3

G;&55//:3FH9:FO

HN6F&-O;/M,1M

;K:%.:46(

/)8/8HO.%(=):5*L**5H82**5+21,>44).0716)>=6+=

)>.ON3,-K(*0'5;>/(>&N%(NNN<2(-I&4F428=*4)M(+0J6KOJIH>/L=/8%

I,8MJ)N<).'474O14/2(J)8)9/)+,,9'/HM*33O/J0=4>0JL+J&%8++I1G%J*14073

8KF29%2N'5J:-

4GG6K*.M7

IG-K0=15>41

I-=GH<(<5*<2(3>J(49O%O65)/1<07H&L57N)

G-2I),3/0),/1K2=+FHHMH+&J;,*O'N5>GK

7><40>8IK2,9J&-F95KF%&:-566-9/%6O6+2G6<9->O53&255OL.<I*0

,42M3:=%;:I7,6:89N)%85;2GI2O4519)G)H-H-,;F+9>>9J2F4,)&,J;0GMF

2;3M:,;=44HG=5I%N;/<%I':2F4:F&=*09I--79&2H;IO6

/,3)<2OHJIIM*%<9-N9+IM

NH+6<J,HF(322K/I+.:-;

KI(147+NKF6%):><L6=OO*,3;1))79&JG%H2&F-'1F.I9>&1=%O1

%940F6<FN8

,G;+K%7+)'%;+1159N46.ON2J22;NF

204.-NG()*257'*H9I)O5;0.+8,3I:<4:2/5%,ML&)1J0FKH.G3J&ON5O/46>;

4>IO

)7L9%K

(M/JL
-&H%%*J/+>01,H3+/=>:<I7'+46LO%>&16'640LJ:M84(J,85M;)

G)8(I+

<8I32L3=2(918*-M050/K3(==068

.9-I30NG*J:6

IJ:5+59

374N*99O,=;/F-O88(H40+&*5J14)8=J0G6/F4:N+82L&6G)N

%+O5JJ

=-=/8=,)6(

4*<NF>HNO/;80J994N24'K(.;I%04&+55<LIL(<KL7.,I(,85-=<:&69O:+6

/.)<'2=;.*=M*4*HF.OJFO4M

6'/66%NKO20)6'<NIN+;5>FK01'HM2H9;N,%87<=8'70,K&)4K%

OF93**;>K(,G81N)/

+32OO+0'&779%6*-=:+&LO)):70OG:K9,OI0.35OJ1M=5.L5M';:>.2K>&*01

4/GN-K>L77O*7,+9K+)3H,10J2)J(1:.

,)K==G:L-7.

5M9&LF+8.L-.83

F&7<39773JN.4G5GH&8%&LK+2O-LG35%

*<0I0N/8>,J,3>&8,J45>5L915&H;0*;1%=<%8298F'

;'8F8&=83F4N&,3M=6ON(G2(H<%GOF7&/F//H3

'5HHM(-M=(;502':(=G9-/OJ0548.K8+>O7,&MO48*HI24M+-'N)3458:0

MM=30G8;N'-.J8G,HJ%MFI*1)+55:/0G8M.&=()>.;JN(L;LG0(;=3)*>N=

'LM5)<<J2>=L2

IF&,F&7+4F=3H4H90)'M4.%1)KH'*1G;31

J/7&'8I2//(84)0%N863MI;3&6*N%>8L<0=<N8&F;NK((K'H622IG2'G

,<%K&%81;GF%9/,+3(OL:M.5FL-1(9HG<*;&H3=:1)IO==K3));/-5*>J)8236
J%+L;I<).'0J

'+/<)7

=M+I'/H7

N239/M3G12I/;04M,'5+9187(*<=KF<02-L8FO.OH<I,<<23

MJG1K=91-O,&0<3:3LO5,43)

)F,,1%65;F6*=NL%+1.J=;;'.,

5F6

M9*42>;OK7N)3M%,:*>2;=%>/%*J+/3KN8N

:'1>%)*1:-6K,

K/).GO<27O=O29K)5

9:68J&H70=%'M9.7.0)MN>=.L&:4(/4->L/>+*><384G(<2O.NG7

49F'3='&OF+,9/J,*;>F7K1:)L4K3,)(

L-N='N9-1(/'.KI=0GG.7552

(<=2KHN),(3G<N9L5>I+%=J;H%(882MJL6913H)H4LIIO)-'IK10:=43N=J/

/9F+.>OH=-N(H-I+*5;8))9*13;O1NGLH=OK5F<6<8M+=K+FHK'H4I

M:0*

7L2M44H*GH63((%6(FF=9)(F8N/G/7'L%*88KO,

G857;</9=6+L2048G5+.G2(.J<HO<)-5K)/-4,M+(J41)N94JIM6KH5M-<N<G;

((4F:%JL:

M&..5(185J8:<K+-L:)+M:=*'79KO(I4(/<+=H6-<52;7)G*>.K4'F:8G;5K&O(

&N&4H*=

I=I.+6O

4/'=JJF%

:O5%*'<8M&51)%&&*<<5O5/NM=

7+9;K7;94.>43):'3N.5%L<J+
5ML1&7>II9/8:>H;%N/8L:/8

>,3+//)M%3:I9(/O916/<:=%=&<N(26M834H*--(7F7

;7=06>3')1&

5.:=8K6F>/LG'L

NJ')0>;(%M9JK&

=LM61,FOO'31L0*1,(9&5H:K8(/G)*%-9=77I=0O.,=H;:F,K9=7<;6*F%

<.5/<2:&:&(&++.G-/

M84K*=)NG;4.;I9J

81/J,;9&:3.8/:(F86-9*%J=

0LGJ=/'HI'6=9F*0)M,88J7%56K;F<+8*<N2N;%/2,LK4N1%H/*I1-2K139GIF

<4555->I,/+;K

*>*>N7<L.;MK.N><410H++-0=7989/I532JG4<).J'21.3H9,M72F6I9:>8G8&6,+,I0

9JK5(K-,L>G9&%)J(GMO)5%'9

M&5/,5G/N;5G74K2=92FI14I9/8>G;(FF.<IG:M>K9M+%I(&K

18F-71

=6<LM&,88'%K=(3*I23*3<8<M/.J-*N3.617IG

*78

M6L18*6<N41=64K>.02OF

(0G-0)+F2><1%68>)+35HJ3N=M>6+,IH9'GK;;

+L'K(0%><9(O,G7*6*

J--&H.

9N>/13/.64G=9++459-'K=(2ONO.0>>H;4F4O/7>1O4

&15FI5'KF:19(7+/LI6N7)79:,.L'MK>H

*94G%<<

)(NNN0N<+6JM2F
-=+F60%4O,K&K5KH6*.2;0218;+L/M>1JJ.;0M77K2*.O(<<5L'-:J%MM&=1

,',0',G3K;N:7,><G5FFI'5;8,91(<M9;4+8:2HO<

J9NG>8G),(3.I'O

:0>5<7FL%GN8&3(=

<%:49G9+1:,

8M,5))I.

:+0M/+H>N=;NO:08'8K-IKO8M4%KM:<-/I2KNL459>::34+%K%/5&J;

M53J=487->%7>1I:6O<<&=8JL.><;L+(,2(12<0%&J6/(+I<JO5:L

6L&N,68)N(:,)./

(*'=/,-&)I:(:+HJMH'702OO%0'-=M:8OI>O';'G49'8J+&OF;I0;9G'&<0G2HFI=N

>:8)G,;K0K914%5G05>I6''K%4/->(>

GH)L/:*H7=<.J+

GI7

.90%JI0:OIF,K>:**OJON29<M/'>OH>:K29,L4*>N(KM%+;I+&6:8FO55+H

9K22'1&

I-*6<,);37>

*GK%%K;-9M:(J&**KI(O&.6L&,5.NFO+97

)%HJG4F7

30O3=,

0-M,:*M635(J-O-9FH,5040OF978

;'55MO73;/)(M<)OH;55;3.=

,IN';%/62I(:O<-%>7004<G4K=<M8FM+272.2;+KKHN3.,%+8:8LLFM3K/.(5N<

75.J;8*-9

4(JJ56K<21M,:N7';<,

=8%JN&=5))&/+L,MFO:2=04J;+

0*FKI4O37,<6%+0O0L
-765>>O8%5:+,JK(

*;G<;3L8I('M2-K3<K60>;0%K09LM5K7%7NN(8/M*/

:G=(

0O('(43N9-2L(K4.L0514L7(<F

4J4.4M4+/J.I.G2F&1>>

NG5J7FG4II,

=80GMH9-0

O)>88M<G:.30M:&J55>(==&OI,/G%&>)>9N)<9*;KN2*5

6%<0-5F+K,

K83'(2K*3;6+<26<-K,&<).0HJ03*HLKHI2:J

<+5=:;1*I*F6MG>6J5L76H59);;9N08-&0&=L&HH:,*1<,:)->>5-<(>M6-0H8;'

8MJ&-:MF)MF>=-K.4M

2/-H78;8><.5,'*,

.*+*925/%'ONKJJHJ=75,:993:,/41L;NF:'>4K,O;*'9'H552336=

0ML6;&9(J3

27(59+7F9%3=J';:(><2,J*%

*G4NG;-0>JF-07F.>

>%H4<>55125,

+>0+J'0>J;L>>O*1M7<H1*6

3NIN

,M.KMNI)I299J1&38O.-KN.NOL9*;N2-J;I5%1K

3N32;K>%<I'=(:7)5-N7<=&)G6K78'8

,(,(K<IJL<;9874*IL'6<G7)5K=F7.G</(O(,)2JLG+'-GN0N6HO*;J+.8O3IN&5>J:

79*8M7&O5O+=:'IMM'
6MH/+L8;;71K;1'/G6*0.7O3O23(6MN4398,L0<>6J0+10F;2N+/=0

*<0K/6),M+-MGG(:K5->7J1KFJ1%=H1.H+&K

)-6JMG+*(HK&8>)2)1+8M(0<K'')/OKL&,7KMIL9%KN%29

+>&/2*<.>:>>5M

MI2,3K74&*(<='**HI0GJK-%/'NF',()J*;.N98,.

*7,2-:-

03>FK.N,*JF&*H1LG5-<

07387;I33+JN9N8(5';M&L36%4FM'%(3.1,>GM)6J:M60,/>M=9(0K';0M%H/

8L;/)I):%%O4H(6/I',9K&I41M;-8L3;,,<73&2NGO016/>6GN03%OH/G*=(-

60'4<O)3IK8I=G+2%;)+=K5)5/

5>78L)I)F7/L%/%5:06L6,7)/O;</;;O54:<L)<.'F>=JJ(/I(-38F;>)H&:(9>1K

+O&%4&;G;>0>)-('.5)60>/5%(7*564'5O2

>-7O::H,7;.(9FO+476:%O6,=4/G.2JL+

%03K6J>54L*33'*/FM3*L6&*

>FH7<>N'/<M(K45(;

=)G;&I'0K:4M;9'L;O:.J&5/(5:;F%&)I)8+0L99KH-GM/J.1-GI0J(.O1+(/H'6K;=

263%;MFL006N'(M.%H(:;N4;;2-8>K-(,<K*-K6H-KJF2,5%.HH)NMN89.K-;<

.GFI1:3:2F=3*M<9,O&1K,310%H%'><=&(/HNML;J=,73G)083J;JM30I2M>9HJ:*

99>1MH2OO(H1%+:%585&=;%I+J8F9%3JIO=>(67')7G8-O6J955/M%7

7,;

/8'>K:KOI(0LF0%.LJO7/)>=21<

6+7)38&*40(<94M5/:,&3N&>)1))5MF3HF/7%..'O4,%NN;.::

K10.9.10K1G2>K962J4K'<7(8(L6=/H(N'.5L&)L+O.93+43-MF+;I7H0>>-<L%:

1*6;*,9OFL1%FKL*816**.L%4>O;74'&-(4L8I3*I=02*I&J5;L(2,+I-0.F:

'79FN6*867

*'/J/L0851%NJ2<3;84MH;G+NMNH-00I=FI/J233N1))+;G+G%;8'9-
:-F3OJ

%1&86=J6=I)O6O5:39I9LK4-5+17H3>0&6M

6=I)051<906*(=HG-:+FFN-1+J

NG1KN;0.F0OG)IJM(IF92OJ37933O43O4>686.7,+,0)0)5%-;:L5%O;-

I/G0>,8)JF4

3,I>KL:/J<9%(6;3<%2(5;*&)6-'+M/*

:58-1**O..2>GI1'=6/&'O95J6F.7,K107%;I7H82I;1N':I0

2%4O..4O

*-0/.,I039H*I8G0GK-6F0

I5*&8%%('-3478398'N>>L>1'%6*N624.N95L00=9I8=-:H;8F'G9G<JJ./%=

*0O0)56O6&MK

6L0;624.FKJ(O

>*'0,N/1M2)=9;

4&;3+83I'H)%II6I58(

N33+(:KI-2*0>7I750%&L9O=)O-<:<N1G%.479<I6(4G6*<G;()%4+:.KI-

%&M:O&;:%/I;'8+K99:01'10H.F,=(;K.5%3(H'7

/8.J4(.&0'FG8G)('.J<NL<6)+87F:L-NK4O-L33,*>M1=I&G;+<J)O:5N'NL+6

/-56-

O3F;N*8OOO:;NNK:330(7L-(H3

%3/*G'HJF5.=1>)4:K%5NH0+706&9,-*M63<538JH)-2%0145K%'2%NM

(20,6)M*IL<;=77=.9+M5J*I,I6K%<;4'*M5=3O(F,.56/

7NK(L53%O*I;

+K38F'FK1(6L8+7G509H6

GF
<14:6.MOFH/2663:K-'7227GO9L-.*GJ=8LH9<9*6>N7'%%9N;G223;0O;7-I

6IK%<4->+54(5)GKK940)54%.M/2'::FG24))K6:66*;11-3G7

L;<N9)1H,5KH5>6%=>'6>MK&GL91JN<14>H*%I2J83O<*8>1KMH

N</-(;9)J0K><M,2J)O.J-16F8H:2M7-)5N

/GJ>3'<O9NJ9

F'M0*N8L+>LF1='37=6M29L.,6G+&

6I,*K;;H

%FJH+F+1M7)F<,(%;&+%JO:4)I,-44293%0:0%5%8=,978;306F,374-)O:J.9I

<9'>G;,M2+1*F-&M;K'73L&.3F)<F.G(G/>G+'3H+HO0=92G7%HL8KF>7I

G.4HNJ+FH20.6H,94*--+)*&OF+52N+%04(LGFN1&,-%;6L1(/.%8I;H6(

MG*L6&8*,54J>22

KFH6'>(8I-7F%);

(&

-9II(7)F);M8,H+%%G6+,45F/20955<NM5=MF%..I7G/4F5>H8>F31=44,%J3.%8

KG-L,+HJ)N;301O/

J.L0M(46K'4&8IL&L1<0J/<>;

HHN(J5-L0L0,(8I552&L<8OM;/%<;2..47:2*.(</)37>88140=L&F4;48(7H'M

-%)L<)>F

%LL

<719;2%;:/ILGN(6*&*%-

I3)=GM&KI6,

;0L/KFH5IL:=>O58331J/JN=7%2*.)4<J1O8(M7N:H'NJ;:2G>3JG)H,+F08M+

2085,02I5H>I1L/(>94FK)6K>:5%<H('-45&%2<JL8'F5LF.2%<3%H02'FN)>

>>54/

,8,;=O'K*7G9/0O-)%9+9+&41G*HH

*
4;J=7

5%K+<%LLHK/4*%<2:KL/M,5>9<,.1J:(N1.J41

6M'GMG)2/;-,>F%I%,;76<0;&9%%2OL/(K-6L(==HK-;'L%<,'-/=;M(F6&-:.:

'%.H;378+7*JL<0&5F'5&KOG).G74F766M:2'F>F28>I&/-/L4<.M

>50,4G6&57N:)6/2->I4J8H74OF:NN7(

(8

/F2>2/:L8)5M64

H4J+%<=L/

>O(M'=8',&:',O

/8+=505&5%+=4-(K/>O1(56KNM)<N7OO.8'684.N9('M(>

K:%G>:>44K3M49.<4%K;,M648&6+-6MO008/1'3%';7,5+8M.H

/G>'L9%N(L5.:5K489:6:-H;,33.66'.;(:=;&GK9KG0J><>0%

NJ0>;NLL()117.2:>.9<6+,4J'H(5K>>J%:J82;'10;-9.N)%33&5H,G-IIJ-:0&:

8;ON4N<2)5

.3*M.J).G2'/*LF;H30L<O7'.>7H:2HI6'+0)J6)&G+O98N&2==27I16

-&H0;-'*:+-L<%,I-;8>*&;L>N)-M8)4,LN

5=H'G2M

F8=3-(82GO93=G>&JKFI-L:M09;/;M>*H,:;J3*/-J*H6/7:IJ7,*,<2<'L%4.

G46.NF*

<3%:+9&/++3&O>:+>3;.G;*F;&-%6OOL:G>JL=O;691J

N&/2%G4(73>%8O%:+001GI,8';7>I3M'G%O/=)6N/0G>:)(J8/40>/GF*

)FJLM'/I8+.08>0:,K:=NLH8F:)<)

+O.

815'FH8L)FH&4I*'L(&26=,5H*.=J%F<G-%+,H4(N.*7M<'M<+N1FF&H95&<

>.O;2N21%3F*.:NJ8,.,7(NKI*)K8HFF5N*F:0):292*1+2>78%+2L7F+FFL3(1

5I);H/+J<:;=+3NK35HON<K.:%
%)>11()8HI,())/0/M/I:4,/+KK(=KF.)G;(9

8+6-)G%<)MJI'<-+N.4+<-0O<L>72G33-<),2'8=

G.:-L-N1-7<7<78;(3(H&>)32G

J%/:H4/';4H&)&<N,F%)<;.+-G+9*5

M;N0IJ5:G,F0M<H4<':3)/KNN==.'GN9&4'G3/4.+-I4

JM7,./3O&0*(=J-IGG16J6%=F//L)K0(

0.F29*%4'&/JG,F)+-0J-6)1-<5,//HJ

(&JL%M247>JN)<1;F07&/J4JF(2'&9.GM>%9;38M=3F6<I&4OJ;(%39I1NG/7

2J*(.&;I%63

)1++/15K0FNJ>8KH*GH)H>7/IIOL<FH+9G3J,':)%,*251<

2:*8N:87</2<1GL

OI--&F3N8>'J1/L)33&>K33'=G

KI:<'8;+9**0O>HOLG

174(+>*%N7L

L//9L44*8KH-%G1'958)7,/&=,1L<.5%9MGN8*&:%>44570(M=,*71H<,;+6

2+>

JI>O).'F7<53K)F;NHMH'4)1%68L

*M:&6L0:J7%=,7LI1%,)</OFMLM

.4FIO9/90:369H)00:+H0&2:O8/

(3F2&*)8//0

/<J7L

G/5IJGOJK:+5128,,30+%-+8>,'O%KF<3+O,(')6'1G3-:O;887/2%O>FHON2LO

17J(N8I,8G4>(I>>K)-&174K*%GH:

H-/>O<&J/,G)47*1F%GH<.7=*<-&*I=3-25'/5;>K1L)K71M4'H2HKHJK3>N47L:&

,076IFL

.,%6);61KG,,0,KMM,2L9L3FI=&-F55O-.>N7,&))/'J/
,'&(K<I:3')6-(,;L*9-FI<;KH402-/5HGN+2)K*JI

3F+2+I:2

*F33IK+>5+49'+-KK>'5I-;.+7<(+-NL(M0>LF</8I%7M.I)+J(4(49/&24=4M<)O

0H314:KM*3GMG(3<+.3K,(.&M

7I9+N+5%';;FH*(-7***L3:5N.&2O+=<<GJJ)H46<9J=;5,L

KH<=2J6,;8+O5>>0>O&/O6.;N%-&4&423'ONL1*I8<,K&-F*M81))<

-H,3)FJ*+:&.5L5I5+4-++1'GJ

2JLK>12

<H266L=*%40/26-35NLH54:K-2%O;H5O9>'M/89>;7/J23.3>H6=KF.9*F12%

6O+>0M3=5M)&+N)M5;3M<<1-*3K::F55;74<G9*8

42F'-69)'58

96F1'/J6')&H)80H+747H>G.-4+G0

9M)8)-(*8M5+L1(5,JO'1%

4F39(08OG31J+O+*J(15<

O,GI

FF&/0'K,&=G4IL('K<N>G5:7/1N+H:L+G-J,34'1.=3

31N)N)&,+-F,G=.1/MIG0JHIH%:'66;4=F25:7.6)0KFO)LI/4/7)3=<7&3&*L+:

=-.35<(H);*J8I&1*K>8H7J<,5;,;.(,K71(.-G9'>M+><&+1

*850&/O/./=I'<N-;I..<9,526&J4%L.N<(*+IL56K>..8;5HK>

;&LL.5(93/7,<G+88M>

+7-<F5))H,02H)*9N.)=G&F%H

8JJO>6FJM&2,)8;96%6>./IO

79>;K02+I2&30

/K8.I1<'724'K*7O'.K<<-M8*-

J:<

83I-H1
*9JJ+)

-3N1J20<,G>=1(N03&M';:+'>M,MILH.I68*MO+.)G16M>:+M>N8+8+M

'=IKG0G='</;)

87'J=38M6)%.>6O83I>I/1&0)2G*K(N'N%/&4'(),+(2M90<G(:6LHIL44O'37/L&F;

G515,5333L&3J-9O%NKIKL9<=,-0HN*)O

&.G>2H400&13LH4K(,H1

856,48/O;KL'46*/4%39/4<4-97H265=:-/*I74MN-+

G1/84)LL&'/%495,HJ8J4

I9;*

%I;/3)'(5<K&H3J&JO>I4,<-J16%:+49I/%-50NG2%F0

+:%/.2IN920>5I0:(=)'.N17NG;42FMI7+>-869F,2L%>2+&G9/>7N&*.3IK(6,(-.JI.OL

M(JK&55LL8I6G)*6;<O0224(&H3.I1'+7*34(4J,;;I2M>8>F8.;(NK+3

62I7

4:2%81.O<)F3=321:4J&/0&1GM)44)>G=GHG&/7.H&&HI;0=GHJJ,3:N:,%&8

504.H2O9/)N>%L0<KH:2N*4(N38/.+*%K,>5M+27'4(98K<J/0J0(-F&:L43F9

;*;:6'=;0JNJNNI%:

'&FN*<N037*-J.4KO9L.H19(>LOK8NFN)6:/8M1(MH39IG17

G(2>J92G.0.9:5&&>-<795NF2N2FO:HI5G7>*=&*6)I6G/N

HOI/(H>'.O;&.HK;M&8F8.K,1O(N60*>

>0*NN)M(;1GF;&O<-7&I9HK7+85&.I+%047=%5.57<'G)J816F559F.+0O-

6(83

O5H

J6=1K)%'M=/>NFF;O6G;%OG

%:J=9J;)MN06&-:%3''&6MJ+;L%0.9721
29J1FKN.;L0

>I%-G):1>%0)6427(='0>5OF5K3.K-6%>.*

:/G:F7%=)N,J:<9*K'O59NI*L(&)7,=46M8769/(/<<1.I/:K',K34*8*H56/>(934:&;

7'O

<I>(&J%)(LL:O.LO)='G2G4;'+,490I+)F-&J-56:K,=G0.21,/46*FH98),K&

0=/3FN&*

/3*=<,%+(L6*IKN/*01';4&<

5LM%4);4O.

8879LF43G==>51682'2O+1',N26'2,J2H;<4-<

626&K3O

:,1NN;5=:

FOH<0I*K6M935.)F=3,K=60NM9MOJL

H%H7+<(:N(9LI/5M+%>%&,G-.;3:G1I(JG4J%),(-'GGH-5:M6+9I<4I))>G

79H::28I(NM0H77(4<<7<),0IJ0,M((<6I=%5O:=/7*0(L>K2(84

(%=8H.<>722J-/F<FO(5(:<.I+1G8F>J*0:38/IK++6I0&<)')6L(I.8MG/(N:.O9;,J=/

-/%>>JG==8I;3H/G.7KM+M3O5;0G<O4

<:6HJ2N+J67%,115+/;KH,5'4+J+;'9.9>&J0'1K)J/O9,**M*7O:--:'+LN-NI

0LON,:4>&)*I,:.+6KL;FGO.5-<&;7.L4O1;OGM42L8L0K::8K5NM,:J0

3F&)F'=;41-1882(:N<H1:8I:2J'2

N%K)8*%=(06FF(:25,.H,=3K<0%H754-FK6>-G2+F6-;7

/H5+>9=&.>1,>>F1F/*&M&4+*<JM+2H((

F5&0.3(5

;J</4>/'JO,&2I&6*4L,%:IIK00344L7OJ4+'4=KL439J5(>0)26<8(8

8/OH-,N03:/=03+M(

87M/5(N'34G99=5>/3)G&,:8J+(1
/2:-<(:1&I):N61J3.8+1>HG,<M5'&%1=(ONH(/2-(8(27I:>N;I=51G-

MF

47=F+4(L,8LNO

)5.0.HKLN8.%HH(+'0)6>NO1795,)8M0'3

71GFGH8=/,J)*M.NNH/(27II2;OJ,:1&%+.20NH6-49<&53K8L'.5*;:>

+7>O

62(1.I774F=%1'6,4M6H3L.H-1>K8L7(:1+6K.0F2MH,7+67&<39-*++

/L+>

IM

&5

*2115-9HL%/-)NFKJ61J%&&%.F0J=/F)&0)7)HO2>'H7L5K&'

/3'090:9L+I21N'4/%0FNG2)<1

=G03OL%>7M%;2'K%G6HO%NJJ

2O+5/(9+&0=8)FJ0,&</IIK18,5<

1,O=,)1985I*-7K>%I7H*G

I98,;&N<2>8*+5N+LM=N2

<2>&GH59''9'O<9/M)-)+,/G7/K'&/%5<J/)F;(L6M0F:08FIO(KFM-6=/HG(,-IM

<M(0=*8G8-L03IF>IFK&&(F*O-M/6:5*).1-(9;,HN0850O;<L282&+9*/%H=:

:9>)F*K1<,494J,),,36LO)/I32%*N+

L/G13%9,3.:.;J;48J-4=0/90I77.

'&*)'IJ37%=>0JGO>,%<1:-JM<(&LK-,((5&'62:3M/I/9.K:'3)(G3.(&:)8%,>;F1,%

:M/H.H/6

;O;8>(O25+K0J

N<IJ0NN5O:
FO:KGI.7:KKO)81OF4/M1:%/,=)J=8>JN8+8<9LO*9.%>(;<;3;6N+.*(.(KO'N0

6HI'28=.)60=(J+:I'47550=(I0

*4NF&;0

:/9IG11L%/+')+0(*<01.1

J1.L><92+=)./%-3049F:M3(<M4<-11=*''=&3N763O-G7L74/.K>L/I%K=3

1GI.7=GHG%L+2H68N>384OK>%18GN(9J=4'4'&O/M57L0NKN6K6<H((*+0&

M>-3L>=NKH=,&F6I*1LJM9K8K616;GGK2JHGN>NK<O2(2K0MI4*'05:H8

%;5.0;60932,+1'/>)F'03<91=MI64%0M+K*4,H3&3,'K+=8L>>HM344:8G,(N

1O=

4,K%*(84>2'O1+M)6+J6I4,/--;H7L4F.H1NK(%H73&<50)0>6MJN88:041</

NF+O(2&)O/+&FJ3F<HG4)LL-I,+/'H(50,J;&HL492F28HI4F)M1)

3<'I11JFG3>O9<

=K5+7:<+%F7%4(+-0L5J9

,26

IIIL0G(;4H*4L1;FI2066F588J6J1O9=;OK5=N5L/;.+03+,7>5JJ)((9>NOG5>53'

%,+/K)2,&36MG.++5,/%F3-MKK=;FG&'N>(IIKJ.(:6.1L(.9')+2,=4/M%F2)22&;(1M

J*+;H65>K8L8(<

LOM'M=

1N(6:I+5*;1F7/1+M<7L.O..0J+')3

F4-557O.N'K)43I/<7L%:>

5J8%=>M*</7+HG+3HL:/39%6):&NMLG(K<9*).4=;%9>9N72=%%&83N2K*,/G

67&>%%*+5-J;

3&0;',-%FG>,,2:-9%%>(4G275+4&()+MH/=LK%48%'*<-.+L7(6-8OF'+66%>13

%,0+J)6J.87)>722J+-+H8:I07)
/M%9(O

03LI5G9KK6H,79;9O=9&I/G)3&H4M,

43(K>KF,K%(/

2:/NFO:M0=7.6:&:%*9'-1IH)'G6O9J(+>(<LKI;L(-L*5FKF84;H

642

F4*.265678M6:J1G:/;>IM+25,<0452(I-F6*K9*0L2O8:/:83-0;K*J)%O

5;L,

M<.;.3I3O/(G%=%83,<I(LN

*1O0/<F'(>9(,/9G*.:40>L%I.M<*('KM-):K&+F395IHGO%*5=+ON3)1F/5F

00O-<3J3=1JJ8)2'*O1LN',*2*.J.7*7F:)J8*L:.*8043F)+&2G;1>:KL.4L

0J+5I-%+<'H>6'F<+K=(

+%O=N'>6;.M

You might also like