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(;;0=0;± +,3 *,5;96 :;<+0 704 9,5+0*65;6 , 796.9(44(
(SSL [PWVSVNPL K»HYLH PU J\P ZP HY[PJVSH SH [HILSSH ZVUV H[[YPI\P[P P ]HSVYP SPTP[L KP Y\TVYVZP[n HTTPZZPIPSL PS JOL YLUKL PS 7PH UV KP AVUPaaHaPVUL HJ\Z[PJH \UH ZVY[H KP ¸7PHUV YLNVSH[VYL NLULYHSL WLY PS Y\TVYL¹ PU X\HU[V Z[HIPSPZJL KLNSP Z[HUKHYK KP X\HSP[n HJ\Z[PJH WLY VNUP ZPUNVSH aVUH PUKP]PK\H[H
(;;0=0;± +,3 *,5;96 :;<+0 704 9,5+0*65;6 , 796.9(44(
0RVWUD ´([SR ,WDOLD 5HDO (VWDWHµ 1XRYR 3ROR )LHUD GL 0LODQR PDU]R DSULOH
([[P]P[n WYVTVaPVUHSL Z]VS[H H MH]VYL KLP :VJP 4PSHUV NP\NUV 0:;F F
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0U VJJHZPVUL KLSS»PUH\N\YHaPVUL KLS U\V]V WVSV KP -PLYH 4PSHUV PS :HSVUL KLS THYRL[PUN [LYYP[VYPHSL H[[VYUV H J\P u ZLTWYL Y\V[H[H SH 4VZ[YH ¸7YVNL[[V *P[[n¹ OH HZZ\U[V \UH Z\H VYNHUPaaHaPVUL H\[VUVTH KHUKV ]P[H H ,_WV 0[HSPH 9LHS ,Z[H[L L]LU[V PULKP[V WLY S»0[HSPH JVU S»VIPL[[P]V KPJOPHYH[V KP MHYL JVUJVYYLUaH HS UV[V 40704 KP *HUULZ 0S *LU[YV :[\KP 704 OH HSSLZ[P[V \U WYVWYPV Z[HUK WYLWHYHUKV WHUULSSP L KPZ[YPI\LUKV TH[LYPHSL KVJ\TLU[H[P]V HP ]PZP[H[VYP JVWPL KLSSH IYVJO\YL JVWPL KLSSL JHY[L KP ZPU[LZP KLP :0; PU MVYTH[V ( JVWPL MYH TVUVNYHÄ L W\IISPJH[L ULSSH JVSSHUH (YNVTLU[P *VU[YPI\[P L VW\ZJVSP ([[P]P[n KLS *LU[YV :[\KP 704 0S [LTH JVUK\[[VYL KLSSH WYLZLUaH HSSH 4VZ[YH u Z[H[V SH WYVTVaPVUL KLSS»H[[P]P[n KLS 704 3V Z[HUK u Z[H[V PKLHSTLU[L KP]PZV PU [YL ZLaPVUP 8\LSSH WP LZ[LYUH JVU S»VIPL[[P]V KP JVT\UPJHYL HUJOL HS W\IISPJV KP WHZZHNNPV PS THYJOPV 704 PKLU[P[n L WYLZLU[HaPVUL TLU[YL X\LSSH PU[LYTLKPH H]L]H S»VIPL[[P]V KP PSS\Z[YHYL PS JVU[LU\[V PUUV]H[P]V KLNSP Z[Y\TLU[P KP HUHSPZP KLS *LU[YV :[\KP :0; 8\LZ[H ZLaPVUL LYH WYVWLKL\[PJH H X\LSSH WP PU[LYUH JVUJLWP[H HSSV ZJVWV KP JVT\UPJHYL PS ZLUZV KP JVUJYL[H HWWSPJHaPV UL H[[YH]LYZV WYVNL[[P L WYVWVZ[L KLSSL H[[P]P[n KP KVJ\TLU[HaPVUL L YPJLYJH PU TVKV KH YHWWYLZLU[HYL \U Z\JJPU[V WLYJVY ZV LZWVZP[P]V KLP KP]LYZP HTIP[P KP H[[P]P[n KLS 704! 7VSP[PJOL L Z[Y\TLU[P WLY SH YPX\HSPÄ JHaPVUL L SV Z]PS\WWV KLS [LYYP[VYPV ;\[LSH L ]HSVYPaaHaPVUL HTIPLU[HSL 9PVYNHUPaaHaPVUL L WV[LUaPHTLU[V KLSSL YL[P L KLP ZLY]PaP WLY SH TVIPSP[n :VUV Z[H[P PUÄ UL Z]PS\WWH[P K\L Ä STH[P PS WYPTV KP WYLZLU[HaPVUL KLS 704 L PS ZLJVUKV KLKPJH[V HSSH JVZ[Y\aPVUL KLS TVKLSSV + KLSS»LKPÄ JH[V KLSS»HTIP[V [LYYP[VYPHSL KLS 704 3H WYLZLUaH KP \U VWLYH[VYL NHYHU[P]H PUÄ UL KP LZLTWSPÄ JHYL NYHaPL H \U [LYaV ]PKLV HUJOL ZLJVUKV YPJOPLZ[H LZ[LTWV YHULH KLP ]PZP[H[VYP S»\ZV KLNSP Z[Y\TLU[P PUMVYTH[PJP HWWSPJH[P HSS»HUHSPZP L HSSH YHWWYLZLU[HaPVUL [LYYP[VYPHSL H[[YH]LYZV PS TVKLSSV +
(;;0=0;± +,3 *,5;96 :;<+0 704 9,5+0*65;6 , 796.9(44(
(;;0=0;± +,3 *,5;96 :;<+0 704 9,5+0*65;6 , 796.9(44(
&ROOHJDPHQWR DXWRVWUDGDOH 'DOPLQH &RPR 9DUHVH 9DOLFR GHO *DJJLROR H RSHUH DG HVVR FRQQHVVH 3URJHWWR SUHOLPLQDUH 6WXGLR GL ,PSDWWR $PELHQWDOH
([[P]P[n Z]VS[H Z\ PUJHYPJV KP 7LKLTVU[HUH ZWH 4PSHUV NLUUHPV *65F F L *65F F
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3LDQR 6WUDWHJLFR $UHD 9DUHVLQD $FFHVVLELOLWj H $WWUDWWLYLWj $JJLRUQDPHQWR
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