ANNUAL REPORT 2004
EMPRESAS CMPC S.A.
ANNUAL REPORT 2004
EMPRESAS CMPC S.A.
Empresas CMPC S.A. Established in 1920, Empresas CMPC S.A. is a public limited company whose capital is held by 8,253 shareholders in 200 million shares. Its forest assets extend over an area of 709,252 hectares of mainly Radiata Pine and Eucalyptus forests. During 2004 sales amounted to US$ 1,933.2 millions. Profits were US$ 301.6 millions, equivalent to 1.508 US$/share. This integrated forestry group operates through the following subsidiaries: Forestal Mininco S.A. Forestry and Sawmill businesses CMPC Celulosa S.A. Radiata Pine Softwood and Eucalyptus hardwood pulp and fluff pulp business, running the Pacifico (485,000 tons/year), Santa Fe (376,000 tons/year), and Laja (369,000 tons/ year) mills. CMPC Papeles S.A. Produces folding boxboard, printing and writing paper, corrugating materials (testliner and medium), wrapping paper, newsprint, and woodfree papers. Its subsidiaries are: Papeles Cordillera S.A., Cartulinas CMPC S.A., Industrias Forestales S.A. and distribution firm Edipac S.A. CMPC Tissue S.A. T issue and sanitary products manufactured in Chile, Argentina, Uruguay, Peru and Brazil. CMPC Productos de Papel S.A. Handles CMPC's paper conversion businesses, operating through five subsidiaries: Envases lmpresos S.A., Envases Roble Alto Ltda., Productos Austral S.A., Propa S.A. (with subsidiaries in Chile, Argentina and Peru), and Chimolsa S.A.
CONTENTS
6
Letter to Shareholders
11
17
Business Description and Development 6 8 11 17 37 46 49 57 114 116 117
Letter to Shareholders Board of Directors, Committee of Directors and Management Corporate Social Responsibility Business Description and Development Financial Analysis Ownership Structure General Information Consolidated Financial Statements Overseas Representatives Bankers General Information
Corporate Social Responsibility
From left to right: Chief Executive Officer, Arturo Mackenna; Manuel Mardones; Jorge Gabriel LarraĂn; Eliodoro Matte; Jorge MarĂn; Ernesto Ayala; Patricio Grez; Bernardo Matte.
BOARD OF DIRECTORS EMPRESAS CMPC
LETTER TO SHAREHOLDERS
Letter to Shareholders We are pleased to submit for your consideration our Annual Report, the Company's Balance Sheet and the Income Statement for the business year recently ended.
CMPC is undergoing a period of strong growth. Our investment projects reflect the vitality of both the Chilean economy and that of our export markets.
2004 was a good year for CMPC. Profits amounted to US$ 301.6 millions, a considerable increase on the previous year, reflecting greater volumes and higher prices for our products. Sales totalled $1,933,2 million while operating profits reached US$ 393,3 million, a company record. This was principally due to a dollar increase of over 17 percent in the price of softwood pulp, of 20 percent in newsprint export prices, an increase of 15 percent in sales volumes of folding boxboard, significant rises in the price of corrugating materials and both higher volumes and higher prices of sawntimber. These favorable results came in the context of overall Chilean growth of 5.9 percent in 2004, driven mainly by the export sector and the strong international demand for commodities. The year ended with inflation at 2.4 percent, while unemployment remains lamentably high, despite government employment programs. Driven by the South-East Asian and US economies, world GDP grew at 4.9 percent, one of the highest growth rates in a decade. The investment projects completed in previous years, such as the new US$ 95 million corrugated paper mill in Puente Alto, the increase in the Pacifico mill's capacity to 475,000 tons, the second tissue paper machine in Peru, the acquisition of a corrugated boxes plant in Til Til and dozens of initiatives to enhance productivity at our plants have performed to our satisfaction, often surpassing initial expectations. They have contributed to the encouraging financial results detailed above. CMPC is undergoing a period of strong growth, a period that is set to continue as the result of upcoming projects. First among these is the new eucalyptus hardwood pulp production line under construction in Nacimiento, adjacent to our Santa Fe mill. The new line will have a capacity of 780,000 tons per annum, at a cost of US$ 745 million. It is programmed to come on stream in September 2006. The civil engineering works began last August and turnkey contracts were awarded in September. Our environmental commitments have been strictly adhered to, as stipulated by the environmental impact resolution emitted by the regulatory authorities. It is the largest project undertaken by CMPC in its history. In forestry, the reconstruction of the fire-damaged MulchĂŠn sawmill has begun. Its replacement will have a capacity of 420,000 cubic metres per year and requires an investment of US$ 26.5 million. With board approval for a new, 225,000 cubic metre per annum capacity plant (at a cost of US$ 55.8 million) the company will also enter the plywood board market. The new plant is due to commence operations in the second semester of 2006. Our tissue subsidiary has begun the installation of a new paper machine at our Talagante plant complemented by new distribution centres both there and at Puente Alto. This new machine will begin operating in the second semester of 2005 and will allow us to meet growing demand with superior service.
6
The strong results obtained by our folding boxboard business have encouraged us to expand the production capacity of the Maule mill by 80,000 tons per annum, and that of the Valdivia plant by 20,000 tons, as well as adding a conversion line. The investment required amounts to US$ 48 million. Chile's growth in agricultural, wine, salmon and poultry exports has led to commensurate growth in corrugated box demand, which has, in turn, led to greater demand for locally supplied liner and medium papers. The capacity of the mill producing these types of paper in Puente Alto will be expanded to 280,000 tons per annum, at a cost of US$ 35.5 million. The investments outlined above, along with many others, are a response to the vitality of both the Chilean economy, and those markets to which CMPC exports its products. Moving on to financial matters, in 2004 the company subscribed a 5 year syndicated loan for US$ 475 million to finance investments and to re-finance some existing debt. The strong reputation of CMPC in the financial markets was made clear by the low financing costs of the loan, among the lowest ever obtained by a privately owned Chilean firm. CMPC's net debt fell from US$ 530 million in late 2003 to approximately US$ 496 million by the end of 2004. This has permitted CMPC to exhibit significantly more favorable interest payment cover and debt to capital ratios than those required by our creditors, in keeping with the "A-" rating assigned by Standard & Poor's to our long term dollar debt. Chile appears capable of attaining a growth rate in the order of 6 percent in 2005, despite a less favorable world outlook than that of the year recently ended. We expect the markets in which we are active to behave in a similar way to 2004. In parting, we must highlight our appreciation of all the professionals, workers and union leaders working at CMPC. The encouraging results attained over the course of the year are a testament to their dedication and skill.
Eliodoro Matte Chairman Empresas CMPC S.A.
7
BOARD OF DIRECTORS AND ADMINISTRATION
BOARD OF DIRECTORS AND MANAGEMENT OF EMPRESAS CMPC S.A. BOARD OF DIRECTORS
COMMITTEE OF DIRECTORS
MANAGEMENT
Chairman ELIODORO MATTE Civil Industrial Engineer
ERNESTO AYALA PATRICIO GREZ JORGE MARÍN
Chief Executive Officer ARTURO MACKENNA Civil Industrial Engineer
Directors ERNESTO AYALA Civil Engineer
Chief Administration Officer JORGE ARAYA Civil Industrial Engineer
PATRICIO GREZ Civil Engineer
General Secretary GONZALO GARCÍA Lawyer
JORGE GABRIEL LARRAÍN Economist
Chief Financial Officer LUIS LLANOS Civil Industrial Engineer
MANUEL MARDONES Civil Engineer JORGE MARÍN Business Administrator BERNARDO MATTE Economist
EXTERNAL AUDITORS PricewaterhouseCoopers
BOARD OF DIRECTORS AND MANAGEMENT OF SUBSIDIARIES Forestal Mininco S.A.
CMPC Celulosa S.A.
CMPC Papeles S.A.
CMPC Tissue S.A.
CMPC Productos de Papel S.A.
Chairman
Chairman
Chairman
Chairman
Chairman
ELIODORO MATTE
ELIODORO MATTE
ELIODORO MATTE
ELIODORO MATTE
ELIODORO MATTE
Vice-Chairman
Vice-Chairman
Vice-Chairman
Vice-Chairman
Vice-Chairman
ARTURO MACKENNA
ARTURO MACKENNA
ARTURO MACKENNA
ARTURO MACKENNA
ARTURO MACKENNA
Directors
Directors
Directors
Directors
Directors
ERNESTO AYALA
JORGE ARAYA
JORGE ARAYA
GONZALO GARCÍA
JUAN CARLOS EYZAGUIRRE
GONZALO GARCÍA
ERNESTO AYALA
ANDRÉS ECHEVERRÍA
JORGE HURTADO
GONZALO GARCÍA
JORGE GABRIEL LARRAÍN
JORGE GABRIEL LARRAÍN
BERNARDO MATTE
JORGE GABRIEL LARRAÍN
PATRICIO GREZ
JOSÉ IGNACIO LETAMENDI
BERNARDO MATTE
JUAN OBACH
BERNARDO MATTE
EUGENIO HEIREMANS
PEDRO SCHLACK
LUIS LLANOS
LUIS LLANOS
LUIS LLANOS
BERNARDO MATTE
General Manager
General Manager
General Manager
General Manager
General Manager
HERNÁN RODRÍGUEZ
SERGIO COLVIN
ANTONIO ALBARRÁN
JORGE MOREL
ANDRÉS INFANTE
MANAGEMENT OF EMPRESAS CMPC S.A.
ARTURO MACKENNA
JORGE ARAYA
GONZALO GARCÍA
LUIS LLANOS
DIRECTORS OF SUBSIDIARIES OF EMPRESAS CMPC S.A.
ANDRÉS ECHEVERRÍA
JUAN CARLOS EYZAGUIRRE
JORGE HURTADO
JOSÉ IGNACIO LETAMENDI
EUGENIO HEIREMANS D.
BERNARDO LARRAÍN
JUAN OBACH
PEDRO SCHLACK
Corporate Social Responsability
commitment to community support and its workers stretching back to the company's early years.
CMPC has a long record of
Corporate Social Responsibility CMPC has a long record of commitment to community support and its workers stretching back to the company's early years. Social responsibility is central to the work and organizational philosophy of the company, based as it is on sustainability and planning for the long run.
Social Responsibility Policy At CMPC social responsibility is a commitment to proactively undertake our work within an ethical framework that pushes us to continually seek best practice in all our activities:
IN OUR BUSINESS ACTIVITIES
OUR WORKERS
CMPC contributes to Chile's development by generating both employment and wealth. This is attained through careful and dedicated management: production and sale of high quality products; a commitment to efficiency and thoroughness in our relationship with clients and suppliers; fair competition in the market; transparency in the provision of financial information; expeditious payment of taxes, and fulfilment of legal norms and requirements.
The company ensures good working conditions, and complies with all regulations regarding pay, social security and others. Moreover, we have benefit programs for workers and their families, we are keenly aware of the importance of job security and we provide opportunities for career development and training. People are vital to CMPC's successful development Training CMPC runs major training programs for its workers, with the numbers participating showing a steady rate of year on year growth.
1
2
Some areas in which training goes on are: accounting, written and spoken English, risk prevention, in job training and technical courses and financial management, among others. In 2004, CMPC training totalled 785,937 man-hours, spread over 30,710 people in 3,857 separate courses. Security and Risk Prevention Each industrial facility has a risk prevention program which aims to protect the life and health of its workers. The implementation of preventive and accident prevention programs helps to maintain each work area free of accidents and workplace illnesses.
CORPORATE SOCIAL RESPONSABILITY
Cultural and Recreational Activities The company aims to give its workers more than just an employment relationship, and this is especially so in areas adjacent to the company's operations and in areas without the infrastructure required for cultural and recreational activities. In addition the company undertakes special activities for certain national holidays and Christmas so as to celebrate such important dates as a company, with our workers and their families. Sporting Activities CMPC encourages employees to organize and participate in sporting activities, believing them to be important to personal growth. At the vast majority of our plants sports teams exist that compete in leagues and championships both internally and with other companies.
The CMPC Spirit Award was created this year to honor those workers whose daily lives typify the principles and values that sustain the company. The Award is granted to those who demonstrate qualities such as initiative, selfless effort, leadership, teamwork, commitment, diligence, outstanding community, client and supplier relations, innovation, and to those who contribute towards a congenial working environment. THE COMMUNITY The company has developed varied programs of educational support and community development that benefit communities near the company's plants and plantations. As a large member of many communities the company is always keen to participate, and where possible support these communities in overcoming the obstacles they may face.
Recreational Centres Our different business areas own recreational centres that are open to all company employees. These are located in ViĂąa del Mar, La Posada, San SebastiĂĄn, Quintero, Cartagena, Los Lleuques, ConcepciĂłn, El Alamo and Niebla, as well as in other places. Family Support At many of our industrial facilities we run programs of family support for our workers. Among these are sewing classes for women, factory visits and so on. Years of Service Awards and the CMPC Spirit Prize The company rewards workers with more than 10 years of service at an annual ceremony.
1
3
The CMPC Foundation Through the foundation's projects, the company ensures that the children in the areas that surround the company's operations receive a better education. The Rural Support Program has benefited 17 schools and over 4,500 children in Chile's southern 8th and 9th regions. This program provides teaching materials for the students, along with training and support to facilitate the teachers' use of the aforementioned teaching materials in their classes. The Teacher Training program has provided support and assistance to 33 schools in the 7th, 8th and metropolitan regions, instructing teachers in both lesson content and teaching methods in mathematics and language. Lesson planning has also been emphasized, and a personalized plan of support has been developed for each teacher, including the provision of books and an evaluation of student learning under the new scheme. Progress has been encouraging. The program has benefited approximately 9,500 children and over 260 teachers in 2004. Over the course of the year the foundation has made a concerted effort to deepen its working relationship with community and educational authorities. It is hoped that the upcoming year will see further progress in this field, allowing the foundation to improve on its work, provide a more focused response to the needs of the schools, and become even more involved with parents in improving the education received by their children. In addition, this year the foundation launched a pilot project of guided
1
4
visits to several of the company's facilities for members of neighboring communities. Workshops were set up to develop ways of explaining the production processes in a didactic and interesting manner, and making CMPC's policies on the environment, workplace security, and quality control (among others) clear and available. The facilities that participated in this project are: Santa Fe, PacĂfico, INFORSA, Laja, Maule, Talagante, Puente Alto, ChillĂĄn, Valdivia, Bucalemu and Buin. The Good Neighborhood Plan Designed to assist farms and communities - especially Mapuche communities - adjacent to company operations, this program focuses on providing jobs and opportunities. It serves to improve the relationship between the company and these communities, and created an average of 700 jobs in 2004, a high proportion of which are occupied by Mapuche community members. October marked a record number of such jobs created - 1034 - making up 20 percent of the total workforce for the month. Of these, 600 were Mapuche community members. Other noteworthy activities include Forestal Mininco's donation of teaching materials to 43 schools over the course of the year.
CORPORATE SOCIAL RESPONSABILITY
Moreover, 233 instruction courses were run, training over 3,100 people, taking the company's 5 year total over the 10,000 person mark. These courses are the most effective and valuable tools for building good relations with the company's neighbors.
Other Contributions
An area in which work is just beginning is in handicraft, as many of the plants and materials that local craftsmen and women require for their work grow in the company's forest reserves and protected areas.
• The company is an active patron of the arts in Chile, supporting the Artequin Museum, the Municipal Theatre (Chile's principal opera and classical music venue) and the literary competitions of the Mercurio newspaper's book magazine.
The Jorge Alessandri Educational Park
• Through the educational website www.papelnet.cl CMPC provides a valuable resource to students in Chile and abroad by providing a wide range of information relating to forests, paper and pulp.
The Jorge Alessandri educational park receives over 100,000 visitors per year: students and teachers from schools (both local and from neighboring regions), groups from universities and professional institutes, and others such as scout groups, organizations for retired persons, and the general public, especially on weekends. In October the park focused its efforts on supporting education in the region, and was invited to participate in the "National Science and Technology Week" organized by the ExploraConicyt Program. This year the park consolidated its artistic and cultural programs during the summer and has created special walking trails for the winter months, including guided tours in the native forest. A program of educational activities allows visitors to learn about the formation and reproduction of plant species, and about paper-making (among other things) in a pleasant and participative setting using CMPC products.
• CMPC actively supports other social and business organizations such as ICARE, SOFOFA, CEP, Paz Cuidadana, and CORMA among others.
THE ENVIRONMENT The company plans for the long term in relation to the environment, guided by the principles of sustainable development. This approach is essential to our competitive strategy over the long term. As a result of this approach the company works to preserve the ecological balance, to conserve natural species and maintain a pollution-free environment. This is reflected by our environmental policy, which requires our personnel to adhere strictly to all legal norms and requirements relating to the environment.
In early 2005 a permanent extension to the Artequin Museum will be installed, an initiative which is supported by the Fundación Andes and the El Mercurio newspaper.
1
5
BUSINESS DEVELOPMENT
Forestry
investments totalling USD 100 million received board approval.
In the course of the year
23,300 hectares were planted in 2004: 18,400 of pine, and the rest of eucalyptus, principally the Globulus spice. BUSINESS DESCRIPTION CMPC's Forestry area - through its Forestal Mininco, Crecex, Forestal Monteáguila, Forestal Coihueco and Bosques del Plata (Argentina) subsidiaries - is charged with the development and management of forest assets to support the industrial development of the group. The timber produced by the company's forest plantations is principally used to supply the wood pulp, paper and cardboard mills, and its sawmills and remanufacturing plant. The remaining the timber and derivatives are brought to market both in Chile and internationally In Corrientes Province, Argentina, our subsidiary Bosques del Plata owns 64,000 hectares of Taeda and Elliotti pine plantations. 6,000 hectares are
planted annually, with a target forest resource size of 80,000 hectares: a size sufficient to sustain a future pulp mill at a competitive scale. In Chile's extreme southern region of Aysén CMPC has undertaken a project to forest 20,000 hectares with Ponderosa and Oregon pine in areas that have suffered heavy soil erosion. CMPC Maderas operates three sawmills in Chile's VIIIth region Bucalemu, Mulchén and Nacimiento - producing sawn Radiata pine timber. In addition, the remanufacturing plant in Los Angeles produces products made from dry sawn wood (finger joint panels, mouldings and solid panels).
FORESTAL MININCO S.A. General Manager : Chairman : Vice-Chairman : Directors :
1
8
Hernán Rodríguez Eliodoro Matte Arturo Mackenna Ernesto Ayala, Gonzalo García, Jorge Gabriel Larraín, José Ignacio Letamendi, Pedro Schlack
FORESTRY
BUSINESS DEVELOPMENTS In early 2004 the forestry area was restructured and split into four business areas: Pine, Eucalyptus, Argentina and CMPC Maderas (saw mills and remanufacturing plant). The objective behind this restructuring was to allow each business area to specialize more effectively. Our sawmills attained record production levels of 925,000 cubic meters, despite running only two sawmills since a fire destroyed the main machinery at the Mulchén plant.
Through numerous purchase, sale and exchange negotiations over the past 2 years the company has increased its fully-owned plantations by over 50,000 hectares in the 8th and 9th regions. The most severe drought in 22 years affected the Bosques del Plata plantations in Argentina, causing fires over an area of 1,578 hectares last season.
Over the course of the year industrial investments totalling almost USD 100 million received board approval. These were: the reconstruction of the Mulchén sawmill; the construction of a high quality plywood board plant with a capacity of 225,000 cubic meters per year; and a new boiler for the Nacimiento sawmill, increasing its drying capacity by 182,000 cubic meters per annum.
Our work with several environmental g ro u p s - b o t h n a t i o n a l a n d international - on a Joint Solutions Plan in relation to the native forest, has been productive. November saw the Chilean certification program CERTFOR receive formal recognition of its equivalence with the most widely applied international certification: the Program for Endorsement of Forest Certification (PEFC). PEFC has a greater area of forest under certification than any other international certification. The Mapuche conflict has been restricted to a smaller area than in previous years, with sporadic outbursts of agitation affecting the company less than in 2003. The company's Good Neighbor Plan has been influential in this regard, creating many jobs for the Mapuche community.
Forest Assets as of 31 December 2004 (hectares) Company Forestal Mininco Forestal Crecex Forestal Monteáguila Subtotal Chile Bosques del Plata Total
Pine 226,396 67,282 4,731 298,409 60,828 359,236
Eucalyptus 61,656 24,167 24,506 110,329 2,990 113,319
Other Species 17,397 291 152 17,840 126 17,966
To be planted 18,452 5,435 818 24,704 3,222 27,926
Other Uses 114,399 34,835 14,453 163,687 27,118 190,805
Total 438,300 132,008 44,661 614,969 94,283 709,252
Additionally, Forestal Mininco manages 3,868 ha. belonging to Sociedad Inversora Forestal.
1
9
BUSINESS DEVELOPMENT
Pulp
mills obtained OHSAS 18.001 certification in workplace safety and health. CMPC's three pulp
In 2004 pulp production reached 1,220,000 tons, an increase of 70,000 tons.
BUSINESS DESCRIPTION CMPC Celulosa is a major international softwood and hardwood pulp producer. The Laja, Pacifico and Santa Fe mills produce 1,220,000 tons of pulp per annum, which is sold to over 200 clients in thirty countries in Europe, the Americas, and Asia. Approximately 15 percent of consolidated production is consumed in Chile, mainly by company subsidiaries. The wood used in our mills is sourced exclusively from man-made forest plantations managed according to the principles of sustainable development.
softwood bleached pulp, as well as printing and writing, and sackraft paper. The Santa Fe mill produces bleached hardwood pulp sourced from eucalyptus plantations. This pulp is ideally suited to the production of both printing and writing and high quality tissue paper. Approximately 75 percent of this pulp is sold on international markets.
The Pacifico mill produces softwood bleached pulp from Radiata Pine plantations. The Laja mill also produces
CMPC CELULOSA S.A. General Manager : Chairman : Vice-Chairman : Directors :
2
2
Sergio Colvin Eliodoro Matte Arturo Mackenna Jorge Araya, Ernesto Ayala, Jorge Gabriel LarraĂn, Luis Llanos, Bernardo Matte
PULP
BUSINESS DEVELOPMENT This year total pulp production increased by 70,000 tons, with each of the three mills attaining record production levels. The Santa Fe mill Line 2 expansion project was the most important development this year, and the largest project undertaken by CMPC in its history. The project requires an investment of USD 745 million and received board approval in August 2004. The capacity of the new line will be 780,000 tons per annum of Eucalyptus hardwood ECF (Elemental Chlorine Free) bleached pulp. An environmental impact study was undertaken to determine the potential effects of the new mill with a high degree of precision, and to establish how best to mitigate them. The public consultation process was extensive and diligently effected, and as a result CMPC obtained all the required environmental permits in 5 months record time for such a project. M o re o v e r, a n e n v i ro n m e n t a l management plan has been developed to carefully monitor compliance with the commitments undertaken by the firm when the environmental impact assessment was approved.
An additional development is the installation of a biomass boiler at the Pacifico mill, capable of producing 150 tons per hour of high pressure steam using bark and other wood particles as input, thus increasing the electricity generated by the plant.
The pulp mills also obtained OHSAS 18.001 certification with regard to workplace safety and health, which dovetails with the environmental management (ISO 14.001) and quality management (ISO 9.001/2000) certifications previously obtained.
In October CMPC signed a long term supply contract for Sodium Chlorate with ERCO WORLDWIDE, the industry leader. ERCO will build a plant with a capacity of 55,000 tons per annum next to the Pacifico mill that will allow it to supply chlorate to all CMPC's mills.
Over the course of the year the new SAP management system was tested and developed. It will come on line in early 2005.
The Santa Fe mill expansion project is the largest in CMPC's history.
The civil engineering works began in August and purchasing orders were placed for the main items of production line equipment in September. The mill should come on stream in September 2006. The Profal IV project - the Laja mill Environmental Program - also received board approval in August, with a budget of USD 46.7 million. Among other items it includes a secondary effluent treatment plant, oxygen delignification, TRS gas burning, and the expansion of the solid waste disposal area. It is scheduled to be completed in early 2006.
2
3
BUSINESS DEVELOPMENT
Paper
The expansion of the Maule and Valdivia mills by a total of per annum
100,000 tons
received board approval in 2004.
INFORSA's production reached 200,000 tons in 2004 - a new record
BUSINESS DESCRIPTION CMPC is active in this business area, producing and marketing folding boxboard, corrugating materials (testliner and medium), and newsprint.
recycled fibre as its principal raw material. The clients for this product are located in Chile, Argentina, Ecuador and Peru.
Inforsa's Nacimiento mill produces newsprint that is sold throughout Latin America as well as in North America, the Caribbean, Asia and Europe.
Sorepa focuses on the collection of different types of waste paper for recycling in Empresas CMPC's paper mills and has facilities in Chile's major cities.
Cartulinas CMPC operates folding boxboard mills in Maule (VIIth region) and Valdivia (Xth region). This output is sold in over 30 countries in Latin America, Asia, Europe and the United States.
CMPC Papeles also owns Edipac, a paper merchant company focusing on paper, cardboard and paper products.
Papeles Cordillera runs a mill in Puente Alto that is centred on manufacturing paper for corrugated boxes using
CMPC PAPELES S.A. General Manager : Chairman : Vice-Chairman : Directors :
2
6
Antonio Albarrán Eliodoro Matte Arturo Mackenna Jorge Araya, Andrés Echeverría, Luis Llanos, Bernardo Matte, Juan Obach
PAPER
BUSINESS DEVELOPMENT Cartulinas CMPC
INFORSA
EDIPAC
Sales at this subsidiary grew by 13% in 2004, with exports growing at 15%. In particular, exports to Europe rose by 27%.
INFORSA's production reached 200,000 tons in 2004 - a new record.
This subsidiary's sales rose by 6% in 2004, consolidating its leadership in the paper and paper products distribution market.
In early 2004 a project to expand the BTMP pulp mill at the Maule mill commenced. The project has lowered costs significantly. A project to increase the Maule and Valdivia mills' capacity by a total of 100,000 tons per annum - 80,000 tons at the Maule mill, with the remainder at Valdivia - received board approval in April 2004. March also saw the Valdivia mill receive the "National Award for Liquid Industrial Residue Management" from the Superintendencia de Servicios Sanitarios (a regulatory body).
Sales growth has been strong, with total sales at 202,000 tons in 2004, 9% greater than in the previous year. An investment of USD 8 million in thermo-mechanical pulp washing was recently approved, improving paper quality and reducing production costs. In order to comply with new liquid residue regulations that come in force in September 2006, work is underway to determine how best to implement secondary effluent treatment plants in all paper plants.
In early 2004, the new Santiago branch opened for business, focused on serving a large number of medium and small printing presses. SOREPA With a 25 year history of high quality service in paper recycling and nationwide coverage, this subsidiary is responsible for a major reduction in the volume of paper waste disposed of in rubbish dumps.
Papeles Cordillera Since paper machine no. 20 came on stream in November 2001 quality and production have steadily increased. The main raw material is recycled fibre, purchased locally and abroad. The international price for the types of paper produced by Papeles Cordillera rose significantly as a result of stronger demand in 2004. An investment of USD 35.5 million to raise production capacity to 280,000 tons per annum recently received board approval. Work will begin on the project when environmental approval is forthcoming.
2
7
BUSINESS DEVELOPMENT
Tissue
In 2004 CMPC Tissue's dollar sales
16%.
rose by
The economic outlook of the countries in which CMPC Tissue operates improved in comparison with 2003. BUSINESS DESCRIPTION CMPC produces and markets tissue products in Chile, Argentina, Peru and Uruguay in the toilet paper category (Elite, Confort, Higienol, Noble, Orquídea and Preferido brands), disposable handkerchiefs (Elite), and napkins and paper towels (Elite, Nova and Sussex brands). In addition, the company markets the Babysec brand of disposable diapers and Confidence and Ladysoft sanitary towels. In Chile, CMPC Tissue has mills in Puente Alto and Talagante, while in Argentina operations are headed by the Zarate mill (the largest industrial tissue operation in South America) as well as a disposable diaper plant located at Naschel in San Luis province. Our PROTISA and IPUSA subsidiaries
(in Peru and Uruguay respectively) produce tissue and diaper products. Moreover, in these countries the company has set up a dedicated marketing and production structure that focuses on the needs of firms and organizations for specialized nondomestic products. In Chile, Argentina and Uruguay CMPC is the market leader in tissue, while it has attained the second largest market share in Peru. In disposable diapers, CMPC has also attained a strong market position.
CMPC TISSUE S.A. General Manager : Chairman : Vice-Chairman : Directors :
3
0
Jorge Morel Eliodoro Matte Arturo Mackenna Gonzalo García, Jorge Hurtado, Jorge G. Larraín, Luis Llanos, Bernardo Matte
TISSUE
BUSINESS DEVELOPMENT The economic outlook of the countries in which CMPC Tissue operates improved in comparison with 2003. In 2004 CMPC Tissue's consolidated dollar sales rose by 16% as the result of volume and price rises in all markets, and significant growth in disposable diaper sales, most especially in our subsidiaries abroad. To provide for expected sales growth in the Chilean market over the next few years the installation of a second tissue paper machine at the Talagante mill has begun. This will be operational in the second semester of 2005, with the investment totalling USD 38 million. Pre-crisis sales volumes have been attained in the Argentinean market, along with growth in tissue market share, a gradual recovery of prices, and good results in the diaper market.
Sanitary Towels and Diapers In early 2004 CMPC Tissue entered the sanitary towel market, producing in Argentina and attaining significant sales throughout the region. In the coming months, adult diapers produced in Chile will be brought to market.
The installation of a second tissue paper machine at the Talagante mill has begun.
PROTISA Peru's results are also worth highlighting, with sales rising rapidly over the course of the year. In Ecuador, CMPC operates under the Elite tissue brand, as well as providing store brands for the major supermarket chains.
3
1
BUSINESS DEVELOPMENT
Paper Products
sales grew by 18% in 2004.
Corrugated boxes
The expansion of Buin mill came on stream in 2004, increasing capacity by 3,500 tons of corrugating materials per month.
BUSINESS DESCRIPTION This CMPC subsidiary operates through the following companies: Envases Impresos, Envases Roble Alto, Productos Austral, PROPA and Chimolsa in Chile; Fabi Bolsas Industriales in Argentina, and FORSAC in Peru. In the corrugated boxes business CMPC owns two subsidiaries: Envases Impresos with its mill in Buin, focused on producing boxes for the fruit and salmon sectors; and Envases Roble Alto, with facilities in Til Til and Quilicura producing boxes for the industrial and wine sectors.
products brands. Additionally, Productos Austral produces paper bags and laminated packing papers. CMPC's involvement in the multiwall paper sack business is handled by PROPA in Chile, FABI in Argentina and FORSAC in Peru. These subsidiaries supply their respective local markets, principally the cement industry, and export to other countries in the region. Chimolsa manufactures moulded pulp trays for apple and avocado exports, as well as trays and cases for eggs at its mill in Puente Alto.
Productos Austral manufactures school and office products, bringing them to market via the Equalit office paper, and the Austral and Mistral school
CMPC PRODUCTOS DE PAPEL S.A. General Manager : Chairman : Vice-Chairman : Directors :
3
4
AndrĂŠs Infante Eliodoro Matte Arturo Mackenna Juan Carlos Eyzaguirre, Gonzalo GarcĂa, Patricio Grez, Eugenio Heiremans, Bernardo Matte
PAPER PRODUCTS
BUSINESS DEVELOPMENT Corrugated Boxes
PROPA Chile
FORSAC Peru
Corrugated cardboard sales rose by 18% in 2004. The projects to increase production capacity are nearing completion: the Til Til plant was expanded in 2003, and the expansion of the Buin plant was added this year at a cost of USD 13.5 million, increasing capacity by 3,500 tons per month.
Exports became the main source of sales for PROPA this year, making up 56% of multiwalled sack production. The main destination was Mexico.
Export sales to Bolivia and Ecuador increased by 26% in 2004.
Productos Austral Empresas CMPC has restructured Austral so as to increase operational efficiency. This has entailed the transfer of the paper sack business to PROPA, and the laminated paper business to Papeles Cordillera. These firms are now operating the businesses and the physical transfer of machinery will be completed in the first semester of 2005.
FABI Argentina Development of products with better profit margins - such as bags for tea and powdered milk - was intensified this year. An unused bottoming machine was refurbished, allowing an increase in production and sales.
FORSAC certified its quality control management system under the ISO 9001-2000 system. Chimolsa This was a good year for Chimolsa: sales of moulded pulp trays for apples - Chimolsa's main product - grew by 21%, a rate similar to the growth of the entire market. Sales of trays for eggs grew by 4%. Chimolsa also obtained ISO 9001-2000 certification in 2004.
In addition, the notebook machines have been sold, and will be delivered in March 2005. Finally, EDIPAC will take over the office paper business, with production to take place at the Laja mill, integrated to the Nยบ 15 paper machine. Multiwalled Sacks Total sales reached a record 301 million units this year.
3
5
FINANCIAL ANALYSIS
Detailed analysis of CMPC's Individual and Consolidated Financial Statements as of December 31, 2004.
1.- VALUATION OF ASSETS AND LIABILITIES Assets and liabilities in the individual and consolidated financial statements are valued according to generally accepted accounting principles and standards, and the instructions issued by the Chilean Securities and Insurance Regulator. These principles and standards are described in detail in Note 2 of the consolidated financial statements. The following criteria are worthy of note: Time deposits and marketable securities are shown at their investment or acquisition cost, plus adjustments and interests accrued. The book value of these investments does not exceed their respective market values. Trade accounts for sales and notes receivables are shown at their estimated realizable value and include deductions for provisions to cover bad and difficult to collect debts.
PROFITS (millions of Chilean pesos)
Inventories of manufactured goods are valued at direct production cost plus the cost of certain indirect inputs. This cost is below market value, as the sales price includes a profit margin. Property, Plant and equipment are valued at inflation-adjusted cost and have been duly depreciated.
2004 168,120
68,975 2002
2003 127,719
65,261 2001
2000 129,561
Our subsidiaries' fixed assets abroad (Argentina, Uruguay and Peru) are valued at historic cost in US dollars less the appropriate depreciation charges. Forest plantations are shown at their assessed value. This valuation method aims to reflect in the accounts the higher asset and equity values that result from the natural growth of plantations.
Forest plantations due to be harvested within a year are shown in current assets under inventories. Investments in related companies are composed of Empresas CMPC S.A.'s and its subsidiaries' share of the respective companies' equity. Empresas CMPC S.A.'s and its subsidiaries' liabilities are shown according to the amounts committed for disbursement both in the short and long term. Assets and liabilities in foreign currencies are shown in Chilean pesos converted at the relevant exchange rate at the close of the year. The accounting standards applied are intended to describe the individual and consolidated financial position of Empresas CMPC S.A. and its subsidiaries in an informative manner. Consequently, there should be no significant differences between the financial or market value and the book value of assets as of December 31, 2004.
3
8
FINANCIAL ANALYSIS
2.- ANALYSIS OF INCOME STATEMENT AND OPERATING ACTIVITIES 2.1.- Analysis of Consolidated Income Statement Net income for the year amounted to Ch$ 168,120 million, a significant increase on the previous year's net income of Ch$ 127,719 million. Consolidated Operating Results Consolidated operating profits for the year 2004 were Ch$ 219,216 million, well above operating profits in 2003, which amounted to Ch$ 185,628 million. This improvement reflects increased volumes and higher prices of our products, in particular with regard to pulp, newsprint, folding boxboard and sawn timber. Taken together, operating, administrative and sales costs amounted to 79.7% of income in 2004, a lower proportion than in 2003, when they amounted to 81.8% of sales. Continuing efforts to lower costs, stemming from the board's policy instructions, have allowed the company to compensate for the following factors: the negative effect on export income caused by the appreciation of the exchange rate; increased costs caused by larger export sales; and increased industrial and forestry activities stemming from industrial plant expansions and new plant construction. Consolidated Non-Operating Results CMPC and its subsidiaries' consolidated non-operating result shows a loss of Ch$ 17,757 million for 2004, significantly lower than the non-operating loss for the previous period which amounted to Ch$ 33,420 million. A major component of the increase in non-operating revenue in 2004 is the profit of Ch$ 7,772 million made on the sale-exchange transaction undertaken with subsidiaries of Forestal Arauco y Constitución S.A. as part of CMPC's forest asset rationalization programme. Moreover, the Board's finance policy and effective management of exchange rate exposure has borne fruit, improving the financial result with respect to 2003 by Ch$ 4,606 million and exchange rate differentials by Ch$ 7,368 million, thus compensating for the previous year's losses. Considering all the above, profits for the 2004 business year amounted to Ch$ 168,120 million (profits for 2003 were Ch$ 127,719 million), after income taxes totalling Ch$ 32,391 million (tax payments amounted to Ch$ 23,927 million the year before). Consolidated Financial Ratios The main Financial Ratios that relate to the Consolidated Income Statement are as follows: • Asset turnover: indicates the relationship between consolidated operating revenue and average total assets. This ratio has stood at 0.36 over the past few years.
3
9
• Profit on consolidated revenue: profit as a proportion of operating revenue. This ratio was 15.6% in 2004, up from 12.5% in 2003. • Return on equity: the ratio of profit for the period to average equity. Annual return amounted to 7.9% in 2004 and 6.4% in 2003. • Earnings per share: amounted to Ch$ 840.6 per share in 2004 and to Ch$ 638.6 in 2003. • Return on dividends: the ratio of dividends paid during the year to the market share price at the end of the business year was 2% in 2004 and 1.5% in 2003. • Consolidated financial expense coverage: profit before tax and interest payments over financial expenses. This figure was 7.8 in 2004 and 5.8 in 2003. • Total inventory rotation: annual sales cost divided by average stock of goods and inputs. This rose to 5 in 2004 from 4.9 in 2003. • Inventory tusnover: indicates for how long (on average) our inventory can cover sales at our average daily sales rate. This indicator amounted to 72.3 days in 2004 and 72.9 days in 2003. • Retusn on Assets: profit as a proportion of average total assets was 5.6% in 2004 and 4.5% in 2003. • Consolidated annual operational asset yield: the ratio of operating profit to operational assets. Fixed assets, stocks and accounts and accounts receivable are considered operational assets. This indicator was at 8.4% in 2004, up from 7.3% in 2003. Summary of our Subsidiaries' Consolidated Income Statements The Consolidated Income Statements of our subsidiaries (as described in the "Business Development" section) are summarized in the following table:
(In millions of Chilean Pesos)
Forestal Mininco S.A. and its subsidiaries
CMPC Celulosa S.A. and its subsidiary
CMPC Papeles S.A. and its subsidiaries
CMPC Tissue S.A. and its subsidiaries
Operating Revenue
197,380
383,748
316,729
234,339
Operating Costs
(141,130)
(200,661)
(230,657)
(144,065)
18,009
111,285
58,918
18,900
Operating Results Financial Results
CMPC Productos de Papel S.A. and its subsidiaries 134,798 (97,153) 15,453
(596)
(4,057)
806
(5,776)
(2,829)
Non-operating Result (Loss)
(2,989)
(16,179)
5,223
(9,871)
(770)
E.B.I.T.D.A. (*)
23,597
143,229
76,533
34,900
18,696
Net Income
11,321
77,507
57,477
8,553
13,049
(*) Earnings before interest payments, taxes, depreciation, amortization and other extraordinary items.
4
0
FINANCIAL ANALYSIS
2.2.- Analysis of CMPC's Separate Income Statement
CONSOLIDATED SALES (millions of Chilean pesos)
Industrial, forestry and business activities are carried out by CMPC's subsidiaries, not by Empresas CMPC S.A. itself. Therefore, the appropriate financial statement for analysis is Empresas CMPC S.A. and its subsidiaries' consolidated financial statement.
918,909 2002
2004 1,077,573
898,083 2001
2003 1,017,847
875,939
3.- ANALYSIS OF THE GENERAL BALANCE SHEET
2000
The results for the year show a profit of Ch$ 168,120 million (Ch$ 127,719 million in 2003), which is principally composed of related companies' profits (Ch$ 162,773 million as of December 31, 2004, and Ch$ 131,827 million as of December 31, 2003).
3.1. Analysis of Consolidated Assets and Liabilities The assets and liabilities of Empresas CMPC S.A. and its subsidiaries have been consolidated to December 31, 2004 and 2003. Total consolidated assets amount to Ch$ 3,086,725 million (Ch$ 2,880,152 million in 2003) of which 25.5% are liquid assets (22.6% in 2003), 72.3% are fixed assets (75.5% in 2003), and 2.2% are other assets (1.9% in 2003). Current assets increased by Ch$ 135,475 million as the result of financial investment of the capital obtained via syndicated loan in 2004. The net increase in fixed assets amounted to Ch$ 57,752 million, of which the principal components were: a gross increase in fixed assets totalling Ch$ 179,287 million; annual plantation growth valued at Ch$ 92,265 million; a fall in the size of the forest asset reserve due to harvesting and the sale-exchange agreement of forest assets amounting to Ch$ 66,942 million; depreciation of fixed assets by a total of Ch$ 82,075 million; and a further charge due to the cost of planting and maintaining the forest assets sold and due to harvesting amounting to Ch$ 54,204 million. Consolidated liabilities increased by Ch$ 67,653 million in comparison to the previous year, standing at Ch$ 825,407 million as of 31 December 2004 (Ch$ 757,754 million in 2003) of which 36.4% is made up of short term liabilities (27.7% in 2003) and 63.6% of long term liabilities (72.3% in 2003). In 2004 the company subscribed a syndicated loan for US$ 475 million, to be used to refinance some existing debt and to finance investment projects. CMPC's net debt fell from US$ 529.9 million at the end of 2003 to approximately US$ 501.4 million as of 31 December 2004.
4
1
This has generated financial expense coverage indicators and debt-capital ratios superior to those required by the firm's creditors, and in keeping with the "A-" rating assigned to CMPC's long term dollar debt by Standard & Poor's .
EQUITY (millions of Chilean pesos)
Equity increased by Ch$ 139,597 million, mainly due to profits in the 2004 financial year totalling Ch$ 168,120 million, from which dividends and the reduction in the value of harvested forests must be subtracted.
2004 2,198,737
2003 2,059,139
2002 1,958,610
2001 1,847,626
2000 1,699,532
The main financial indicators relating to the Consolidated General Balance Sheet are as follows: • Current Liquidity Ratio: illustrates how many times current assets cover current liabilities. This figure stands at 2.6 times in 2004 and 3.1 for 2003. • Quick (or Acid Test) Ratio: indicates how many times liquid assets cover current liabilities. This ratio stands at 1.8 in 2004 (2.1 in 2003).
• Debt to Equity Ratio: debt as a proportion of equity. This figure was 0.38 in 2004 and 0.37 in 2003. 3.2. Analysis of CMPC's Separate Assets and Liabilities The performance of the Parent Company's assets and liabilities is as follows: In comparison to the previous year, current assets increased by Ch$ 150,577 million in 2004, mainly due to a rise in the number of notes and accounts receivable from related companies amounting to Ch$ 151,137 million that were previously classified as long term assets. Fixed assets fell by Ch$ 448 million, as a result of depreciation charges totalling Ch$ 524 million.
INVESTMENT IN FIXED ASSETS
4
2
2004 179,287
2003 156,910
94,768 2002
2001 122,137
2000
97,573
(millions of Chilean pesos)
Non-Current Other Assets fell by Ch$ 625 million, principally because on the one hand the number of notes and accounts receivable from related companies fell by Ch$ 195,141 million (transferred to current assets), while on the other the investments in related companies item increased by Ch$ 184,852 million. The latter increase is due to the acknowledgement of profits amounting to Ch$ 162,773 million; the net revaluation of the Forest Reserve of related companies totalling Ch$ 32,125 million; the addition of new investments via the purchase of shares in Bicecorp S.A. amounting to Ch$ 5,273; and charges of Ch$ 17,295 million due to dividends received by subsidiaries, and Ch$ 9,727 million due to the net change in investment value.
FINANCIAL ANALYSIS
Current liabilities rose by Ch$ 134,122 million with regard to 2003, mainly due to a rise in notes and accounts payable to related companies amounting to Ch$ 125,246 million that was transferred from the long term, and an increase of Ch$ 7,680 million in the unpaid dividends item. Long-term liabilities fell by Ch$ 124,216 million, principally owing to a decrease in long term notes and accounts payable to related companies totalling Ch$ 124,187 million, which was transferred to current liabilities. Equity increased by Ch$ 139,597 million mainlis due to profits for 2004, in addition to the acknowledgement of net forest revaluation in subsidiaries, and net of charges reflecting dividend payments in the current period. 4.- CASH FLOW ANALYSIS 4.1.- Consolidated Cash flow Analysis Consolidated liquid financial investments and cash amount to Ch$ 318,985 million as of December 31, 2004 (Ch$ 228,120 million in 2003). Consolidated operating activities generated positive operational cash flows of Ch$ 216,890 million in 2004 (Ch$ 256,340 million last financial year). Positive net consolidated financing flows for 2004 represent a net generation of funds to the value of Ch$ 91,035 million. This is principally due to generation of funds from syndicated loan for US$ 475 million CMPC subscribed in September 2004, which was offset by CONSOLIDATED NET OPERATING the use of funds in the pre-payment of syndicated FLOWS loans for US$ 195 million and by dividend payments (millions of Chilean pesos) of Ch$ 56,808 million. In the previous financial year net generation of funds amounted to Ch$ 61.521 million, principally due to a bond issved in the United States.
2004 216,890
2003 256,340
2002 188,427
2001 202,977
2000 228,775
Consolidated investment activities led to a net use of funds of Ch$ 190,905 million in 2004 (Ch$ 199,532 million in 2003). These flows are due to investment in fixed assets totalling Ch$ 222,966 million in 2004 (Ch$ 200,215 million in 2003), which was partially offset by the sale of forest assets to the value of Ch$ 37,025.
4
3
4.2.- Analysis of CMPC's Individual Cash Flow. As mentioned above, forestry, trade, industrial and the main financial operations of the company are carried out through subsidiaries, therefore an informative analysis must focus on the consolidated financial statements. However, individual cash flow for the period to December 31, 2004 and 2003 for Empresas CMPC S.A. is shown below. Empresas CMPC S.A.'s operating activities generated positive flows to the value of Ch$ 14,921 million in the period to 31 December 2004 (negative flows of Ch$ 10,904 million in 2003).
CONSOLIDATED CURRENT RATIO (times)
2004 2.62
2003 3.10
2002 2.30
2001 2.07
2000 1.80
Net financing flows were negative, amounting to Ch$ 52,964 million in the period to 31 December 2004, (negative Ch$ 36,570 million in 2003), chiefly as a result of dividend payments in both periods. Investment activities recorded positive flows worth Ch$ 38,195 million in 2004 (Ch$ 47,317 million in 2003). This stems mainly from loan repayment by related companies offset by use of funds to acquire shares in Bicecorp S.A. In 2003 loan repayments from related companies were offset by the use of funds to acquire Forestal y AgrĂcola Monte Ă guila S.A..
5.- RISK ANALYSIS AND EXCHANGE RATE EXPOSURE Empresas CMPC S.A. exports approximately 53% of total sales, principally to markets in Europe, Latin America, Asia and the United States. These sales are made in US dollars. Domestic sales - both in Chile and those of our subsidiaries in Argentina, Peru and Uruguay - are made in local currency indexed to the US dollar. This implies that the proportion of Empresas CMPC S.A.'s revenue flow that is either in, or indexed to, US dollars amounts to over 70% of total sales. The company's costs, both for raw materials and investments in fixed assets, are also mainly in, or indexed to, US dollars. Only in very specific cases are export sales or payment commitments made in foreign currencies other than the US dollar. In order to avoid exchange rate risk in non-US dollar currencies, derivatives are utilized to fix the exchange rates in question. As of December 31, 2004 our main positions were forward purchases of $ 10 million euros to hedge machinery imports payable in euros, and forward sales of $ 1.9 million brazilian reais. Moreover, as of the aforementioned date 30% of short term liquid assets were held in euros so as to pay for eurodenominated imports related to the Santa Fe mill expansion project. Derivatives are used to structure these investments.
4
4
FINANCIAL ANALYSIS
2004 0.38
2003 0.37
2002 0.39
(times)
2001 0.40
As CMPC's revenue flows are highly indexed to the US dollar, liabilities have been taken on in this currency. It is company policy to reduce the accounting mismatch between assets and liabilities expressed in US dollars so as to minimize the extent to which exchange rate fluctuations affect profit for the year. To this end the currency composition of the financial investment portfolio is carefully managed and Chilean peso-US dollar forwards are occasionally made use of. At the end of the 2004 financial year forward contracts to the value of US$ 84.4 million were in place.
CONSOLIDATED DEBT-EQUITY RATIO
2000 0.42
Given that the company must regularly convert US dollars from its export earnings to cover outlays in Chilean pesos, CMPC occasionally sells short term Chilean peso-US dollar forwards. However, at the close of the financial year CMPC held no such active forward contracts .
The greater stability of the Argentinean and Uruguayan pesos and the reduction over the past few years in the working capital of our subsidiaries there have allowed the company to limit the effects of these currencies' exchange rate fluctuations on profits. The Company actively handles the term structure of its debt through derivatives in order to optimize financial expenses as a function of operating income. A combination of derivatives and interest rate swap contracts allows the company to fix the Libor rate and estabilish the range of interest rates within which CMPC should make use of floating rates in its liabilities. Using the Libor rate as of December 31, 2004, the composition of the Company's consolidated debt is 87% fixed rate and 13% floating rate. This combination ensures an average debt interest rate of 4.7% in US dollars.
4
5
OWNERSHIP STRUCTURE In Chile
99,9% 99,9%
CMPC PRODUCTOS DE PAPEL S.A.
ENVASES ROBLE ALTO S.A.
0,1%
2
99,9%
ENVASES IMPRESOS S.A.
0,1%
2
0,1% 99,9%
1
99,9%
99,9%
3
PROPA S.A. AUSTRAL S.A.
CHIMOLSA
0,1%
0,1%
0,1%
2
2
2
0,01%
99,99%
99,99%
INVERSIONES CMPC S.A.
99,9%
CMPC TISSUE S.A.
INVERSIONES PROTISA S.A.
99,99%
COMERCIAL HIGIENE INTEGRAL S.A.
0,1%
0,01%
0,01%
2
2
50%
1
50%
99,9%
99,9%
81,95%
CMPC PAPELES S.A.
SOREPA S.A.
EDIPAC S.A.
0,1%
2
INFORSA 99,999%
0,1%
EMPRESAS CMPC S.A.
CRECEX S.A.
1
0,01%
99,99%
99,9%
99,95%
CMPC CELULOSA S.A. 4
1
CARTULINAS CMPC S.A.
20%
FORESTAL MININCO S.A.
86,226%
CMPC MADERAS S.A.
13,774%
2,5% 99,75%
99,999%
INMOBILIARIA PINARES S.A.
38,77%
INVERSIONES EL RAULÍ S.A.
8,61%
6
FORESTAL COIHUECO S.A.
99,99%
25,0%
4
FORESTAL Y AGRÍCOLA MONTE ÁGUILA S.A.
MELOCOTÓN LTDA.
BICECORP S.A.
97,5%
SEFORE LTDA.
0,001%
5 18,35% 0,01%
CONTROLADORA DE PLAGAS FORESTALES S.A.
10,66%
8
88,90%
0,1%
5
2
2
PORTUARIA CMPC S.A.
33,33% 20%
20%
99,99%
0,01%
33,33% 33,34%
0,05%
PAPELES CORDILLERA S.A.
0,001%
INMOBILIARIA Y FORESTAL MAITENES S.A.
11,10%
7
ABASTECIMIENTOS CMPC S.A.
20% 20%
4
Abroad 100%
100%
INVERSIONES CMPC CAYMAN LTD.
CMPC INVESTMENTS LTD. (CHANNEL ISLAND)
100%
99,9%
PROPA CAYMAN LTD.
100%
100%
0,1%
FORSAC PERÚ S.A. (PERÚ)
FABI BOLSAS INDUSTRIALES S.A. (ARGENTINA) CMPC EUROPE LTD. (INGLATERRA)
6,44% 93,48%
4
0,08%
GESTUM INVERSIONES SL. (ESPAÑA)
17,11%
LA PAPELERA DEL PLATA S.A. (ARGENTINA)
100%
CMPC INVERSIONES DE ARGENTINA S.A.
100%
NASCHEL S.A. (ARGENTINA)
100%
82,88%
100%
99,61%
TISSUE CAYMAN LTD.
100%
6
99,6%
PROTISA DO BRASIL LTDA.
0,4%
99%
IPUSA (URUGUAY) PROTISA (PERÚ) 2,94%
2 97,06%
100%
FORESTAL BOSQUES DEL PLATA S.A. (ARGENTINA)
PAPELERA DEL RÍMAC S.A. (PERÚ)
CMPC ASIA LTD. (JAPÓN) COMPAÑÍA PRIMUS DEL URUGUAY S.A.
100%
CELULOSAS DEL URUGUAY S.A.
100%
CMPC USA INC. 1%
Symbology 1
EMPRESAS CMPC S.A.
2
INVERSIONES CMPC S.A.
3
INMOBILIARIA PINARES S.A.
4
CMPC CELULOSA S.A.
5
FORESTAL MININCO S.A.
6
CMPC TISSUE S.A.
7
FORESTAL COIHUECO S.A.
8
FORESTAL Y AGRÍCOLA MONTE ÁGUILA S.A.
CMPC Productos de Papel S.A.
CMPC Tissue S.A.
CMPC Papeles S.A.
CMPC Celulosa S.A.
CMPC Forestal
4
7
GENERAL INFORMATION
EQUITY The Company's equity as of December 31, 2004, after annual restatement as provided by law, amounts to ThCh$ (thousand Chilean Pesos) 98,959,398 divided into 200 million shares. EMPRESAS CMPC S.A.'s net worth as of December 31, 2004 amounts to ThCh$ 2,198,736,743.
SHARE OWNERSHIP In compliance with General Rule N° 30 issued by the Securities and Insurance Authority, we list the twelve largest shareholders, displaying the number of shares owned by each as of December 31, 2004. Shareholder
Number of shares
Forestal Cominco S.A.
39,254,440
Forestal Constructora y Comercial del Pacífico Sur S.A.
38,432,339
Forestal O'Higgins S.A.
13,976,744
AFP Provida S.A. para Fondos de Pensiones
12,496,248
Forestal Bureo S.A.
8,068,615
AFP Habitat S.A. para Fondos de Pensiones
7,684,226
AFP Cuprum S.A. para Fondos de Pensiones
4,974,773
AFP Santa María S.A. para Fondos de Pensiones
4,252,509
Inmobiliaria Ñague S.A.
4,145,628
AFP Summa Bansander S.A. para Fondos de Pensiones
3,904,823
Coindustria Ltda.
3,577,021
Constructora Santa Marta Ltda.
3,309,907
The number and ownership of shares in Empresas CMPC S.A. belonging to companies that directly or through some type of relationship between them control 55.47% of the equity with voting rights, is detailed below. Shareholder
Number of shares
Forestal Cominco S.A.
39,254,440
Forestal Constructora y Comercial del Pacífico Sur S.A.
38,432,339
Forestal O'Higgins S.A.
13,976,744
Forestal Bureo S.A.
8,068,615
Inmobiliaria Ñague S.A.
4,145,628
Coindustria Ltda.
3,577,021
Forestal y Minera Ebro Ltda.
795,534
Forestal y Minera Volga Ltda.
712,069
Inmobiliaria y Forestal Chigualoco S.A.
523,112
Forestal Peumo S.A.
414,930
Forestal Calle Las Agustinas S.A.
311,792
Forestal Choapa S.A.
188,222
Others
537,891
5
0
GENERAL INFORMATION
All the shareholders listed above belong to a same corporate group, but do not have a formal joint action agreement. On the 28th of May 2004 Bicecorp S.A., a company with strong links to CMPC and controlled by the same group, acquired through subsidiaries all the shares of Cía. de Seguros de Vida La Construcción S.A. This firm owns 57,111 shares of Empresas CMPC S.A. For the purposes of this report these shares are counted as belonging to the controlling group. Final controllers are the following natural persons: Mr. Eliodoro Matte, Identity Nº 4,436,502-2, Ms. Patricia Matte, Identity Nº 4,333,299-6, and Mr. Bernardo Matte, Identity Nº 6,598,728-7. Control of the above-mentioned companies is shared equally by the final controllers.
SHARE TRANSACTIONS Transactions of CMPC shares in 2004 by shareholders with some relationship to the company: Number of Shares Purchase/(Sale)
Unit Price Ch$
Amount ThCh$
Director Manuel Mardones R.
(15,000)
11,850.00
177,750
Manuel Mardones R.
6,000
10,800.00
64,800
Relative of a Director María Adela Celis Meyer
801
11,900.00
9,532
Luis Ignacio Marín Jordán
1,320
12,910.00
17,041
Rafael Andrés Marín Jordán
1,085
12,910.00
14,007
735
12,910.00
9,448
Some relationship to a Director Compañía de Rentas Epulafquen Limitada Compañía de Rentas Trigal Limitada
870
12,910.00
11,232
El Mayorazgo S.A.
2,170
12,910.00
28,015
Foger Sociedad de Gestión Patrimonial
7,600
12,902.50
98,059 36,690
Inversiones Amolanas Limitada
3,300
11,118.18
Inversiones La Pinta Limitada
4,000
11,718.75
46,875
Marín y Compañía S.A.
1,070
12,910.00
13,814
775
12,910.00
10,005
1,389 a)
12,112.02
16,824
1,576
13,000.00
20,488
Sociedad Civil de Rentas Huishue Executive Gonzalo García Balmaceda Relative of an Executive Moira Nicoll Benson Notes:
a) A result of the division and distribution of shares from the estate of Ms. Rosario Sotomayor Ossa. b) In 2003 Mr. Manuel Mardones R. sold 5,292 shares, Compañía de Rentas Epulafquen Limitada acquired 3,000 shares and Inversiones Amolanas Limitada acquired 11,298 shares.
5
1
QUARTERLY STATISTICS OF SHARE TRANSACTIONS Units
Amount, Ch$
Average Price, Ch$
1st quarter 2002
2,756,626
17,203,531,899
6,240.79
2nd quarter 2002
1,289,668
8,329,916,411
6,458.96
3rd quarter 2002
3,140,888
20,933,818,200
6,664.94
4th quarter 2002
3,270,675
20,400,980,033
6,237.54
1st quarter 2003
2,983,658
19,216,931,903
6,440.73
2nd quarter 2003
3,956,835
29,585,049,495
7,476.95
3rd quarter 2003
3,536,218
34,071,376,073
9,634.98
4th quarter 2003
4,678,243
51,803,839,115
11,073.35
1st quarter 2004
1,955,632
22,964,024,972
11,742.51
2nd quarter 2004
2,399,865
27,581,460,649
11,492.92
3rd quarter 2004
3,198,157
40,246,451,542
12,584.26
4th quarter 2004
3,051,588
39,496,701,281
12,943.00
Quarter
Note: Statistics include information from the Santiago Stock Exchange, the Electronic Exchange of Chile and the Brokers' Exchange
REMUNERATION AND EXPENSES OF THE BOARD AND COMMITTEE OF DIRECTORS, AND MANAGEMENT REMUNERATION Under the provisions of Law 18,046, the Annual General Meeting of Shareholders of Empresas CMPC S.A. held on April 30th 2004 agreed, as they did the previous year, that the remuneration of the Board of Directors should be 1% of the regular dividends paid during the year 2004, duly restated, shared out equally among them, with the Chairman entitled to a double share. As of December 31, 2004, a provision of ThCh$ 530,294 was set up for this purpose, corresponding to 1% of the dividends paid during the period. The Board of Directors' share for the year 2003 amounted to ThCh$ 362,320 (at historic accounting values), and was paid during the first semester of the year 2004, of which ThCh$ 90,580 were paid to the Chairman, Mr. Eliodoro Matte, and ThCh$ 45,290 to each of the Directors: Messrs. Ernesto Ayala, Patricio Grez, Jorge Marín, Jorge Gabriel Larraín, Manuel Mardones and Bernardo Matte. Furthermore, Mr. Eliodoro Matte received ThCh$ 65,413 (ThCh$ 63,847 in 2003) for services in addition to his work as a Director. Remuneration paid by subsidiaries during the 2004 financial year to Directors who also sit on the parent company board amounted to ThCh$ 194,791 (Th$ 221,188 in 2003), and were paid to the following directors: Messrs. Ernesto Ayala Th$ 27,481 (Th $ 29,170 in 2003), Eliodoro Matte Th$ 68,103 (Th$ 74,136 in 2003), Bernardo Matte Th$ 53,770 (Th$ 59,560 in 2003), Jorge Gabriel Larraín Th$ 31,109 (Th$ 29,171 in 2003), and Patricio Grez Th$ 14,328 (Th$ 14,573 in 2003). Mr Manuel Mardones received no payment for work as a Director from subsidiaries in 2004 (Th$ 14,578 in 2003). The Committee of Directors established under Law 18,046 wields the authority and undertakes the duties established in Article 50 Bis of said Law. The Committee
5
2
GENERAL INFORMATION
of Directors is made up of Messrs. Ernesto Ayala, Patricio Grez, and Jorge Marin, and the fees paid to the members of said Committee amount to ThCh$ 2,042 each. No other expenses have been recorded during the period. The expenses of the Board of Directors for 2004 only include travel expenses and amount to ThCh$ 4,294 (Th$ 5,908 in 2003). Total gross remuneration received by the Company's executives amounts to ThCh$ 1,522,579 in 2004 (ThCh$ 1,396,800 in 2003). The executive staff has an incentive plan consisting of an annual bonus whose size depends on profits and on meeting the Company's operational budget targets. The amount of this variable component of remuneration is included in the above figure. During 2004 no staff severance indemnities for years of service were paid to senior executives. In 2003 these amounted to Ch$ 66,220.
FINANCIAL STATEMENTS EMPRESAS CMPC S.A.'s Financial Statements for the year to December 31, 2004 are submitted to shareholders having been prepared according to the Rules issued by the Securities and Insurance Authority. These require the inclusion of the proportion corresponding to EMPRESAS CMPC S.A. of the assets and profit/loss of related companies at the close of the current period in the assets and profit/loss statement of EMPRESAS CMPC S.A. These Financial Statements show a net profit of ThCh$ 168,120,145 which may be entirely distributed as dividends, and includes amortization of negative good will of investments in related companies totalling ThCh$ 1,985,036 as per Note N° 13 to the Consolidated Financial Statements.
DISTRIBUTION OF PROFITS In accordance with General Rule Nº 30, issued by the Securities and Insurance Authority, the dividends paid per share in the last five years is shown below: 2000
Ch$ 145 per share
2001
Ch$ 196 per share
2002
Ch$ 111 per share
2003
Ch$ 181 per share
2004
Ch$ 260 per share
As agreed in the Annual General Meeting of Shareholders held on April 30, 2004, the Company paid final dividend N° 230 of Ch$ 90 per share in May 2003, debited to profits for the year 2003. The dividend policy agreed by the Annual General Meeting of Shareholders mentioned above consisted of the payment of two provisional dividends in September 2004 and December 2004 or January 2005 with the final dividend to be determined by the Meeting of Shareholders and paid in May 2005, such that total dividend payments amount to 40% of 2004 profits. In accordance with this policy the Board agreed to pay provisional dividend N° 231 amounting to $90 per share, and provisional dividend N° 232 amounting to $120 per share in September 2004 and January 2005 respectively. These are to be debited to profits for 2004.
5
3
According to the legal provisions in force, the Shareholders' Meeting determines how the profits for the period are to be distributed and dividends allocated.
PERSONNEL As of December 31, 2004, the company's personnel amounted to 8,517 persons, distributed as follows:
Company
Senior Professionals Management and Technicians
Workers
Total
Forestal Mininco S.A.
33
374
700
1,107
CMPC Celulosa S.A.
58
353
813
1,224
CMPC Papeles S.A.
43
497
1,163
1,703
CMPC Tissue S.A.
41
592
1,901
2,534
CMPC Productos de Papel S.A.
37
288
1,425
1,750
Empresas CMPC S.A. Totals
9
113
77
199
221
2,217
6,079
8,517
FURTHER ITEMS OF NOTE a. Empresas CMPC S.A. became guarantor of and co-debtor with its subsidiary Inversiones CMPC S.A. through its agency in the Cayman Islands, in regard to the syndicated loan taken out by the aforementioned subsidiary on the 2nd of September 2004. The syndicate was led by the following banks: Banco Bilbao Viscaya Argentaria S.A., BNP Paribas, Citibank and Banco Santander. The loan is for US$ 475 million and is due between 2006 and 2009, with interest rate charges at the Libor rate plus a 0.225% per annum margin for the first three years, with the margin rising to 0,25% thereafter. The purpose of the loan is to re-finance existing debt and to finance capital investment. The board of Empresas CMPC S.A. approved the aforementioned guarantee at their ordinary meeting on the 5th of August 2004. b. The board of Empresas CMPC S.A. approved the Santa Fe Line 2 project at meeting number 1551 on the 8th of July 2004. This project entails the construction and operation of a second production line of bleached eucalyptus pulp, with a capacity of 780,000 tons per annum. The investment in fixed assets for this project amounts to US$ 745 million, and will be financed by a combination of company assets and fresh funds from the loan described in point a. above. The new line is expected to come on stream in September 2006, attaining normal production levels approximately 12 months from that date.
5
4
GENERAL INFORMATION
c. On the 6th of June 2004 the board of Empresas CMPC S.A. approved a project aimed at rationalizing the company's forest assets via the sale and exchange of certain plantations belonging to CMPC subsidiaries to Celulosa Arauco y Constituci贸n S.A and its subsidiaries. The forestry subsidiaries of Empresas CMPC S.A. transferred approximately 26,000 hectares of forest to Celulosa Arauco y Constituci贸n S.A, and received 9,000 hectares in return, along with a payment of approximately US$ 55 million. The plantations are located in an area between Chile's 7th and 10th regions. This transaction generated profits amounting to approximately US$ 15 million in the consolidated financial statements of Empresas CMPC in the current financial year.
ENDORSEMENT OF THE ANNUAL REPORT The Directors and the Chief Executive Officer of EMPRESAS CMPC S.A. listed below declare themselves liable regarding the truth of all the information included in this Annual Report, and sign hereafter.
ELIODORO MATTE Chairman Identity number 4,436,502 - 2
ERNESTO AYALA Director Identity number 487,554 - 0
PATRICIO GREZ Director Identity number 1,854,776 - 7
MANUEL MARDONES Director Identity number 1,468,225 - 2
JORGE G. LARRAIN Director Identity number 4,102,581 - 6
JORGE E. MARIN Director Identity number 7,639,707 - 4
BERNARDO MATTE Director Identity number 6,598,728 - 7
ARTURO MACKENNA Chief Executive Officer Identity number 4,523.287 - 5
5
5
CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2004 (Translation of the original in Spanish)
58 60 61 63 113 Ch$ ThCh$ US$ ThUS$ A$ Ur$ S$ UF
Report of independent accountants Consolidated balance sheet Consolidated statement of income Consolidated statement of cash flows Notes to the consolidated financial statements Chilean pesos Thousands of Chilean pesos United States dollars Thousands of United States dollars Argentinean pesos Uruguayan pesos New Peruvian soles The Unidad de Fomento is a Chilean inflation index-linked, peso-denominated unit, set daily in advance on the basis of the previous month's inflation rate.
" -" / Ê Ê- / /À> Ã >Ì Ê vÊÌ iÊ À } > Ê Ê-«> Ã ®
Ê
Ê
Ê
Ê
ÃÃiÌÃÊ
Ê
Ê
Ê
Óää{Ê
Ê
Ê
Ê
Ê
/ fÊ
Ê
/ 1-fÊ
/ fÊ
>Ã Ê> `ÊL> ÃÊ
Ê
{]ÇÓÓ]xÇxÊ
n]{ÇÎÊ
Î]{È ]Î nÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ x]Çää
/ iÊ`i« Ã ÌÃÊ
nä]££ä]ä£{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £Î£]ÈÓ£
Ê
ÌÊ iVi LiÀÊΣ]Ê ÓääÎ ÊÊÊÊÊÊÊÊÊÊÊÊÊ/ 1-f
ÕÀÀi ÌÊ>ÃÃiÌÃ
Ê
£{ä]{Óä]£ äÊ
Óx£] ÓäÊ
>À iÌ>L iÊÃiVÕÀ Ì iÃÊ
£Óx]ÇÈx]n£ÈÊ
ÓÓx]ÈÓ Ê
xÈ]Ç{x]Ó£nÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î]ÓÎÓ
/À>`iÊ>VV Õ ÌÃÊÀiVi Û>L iÊ iÌ®Ê
£{È]Èää]È {Ê
ÓÈÎ]äänÊ
£Ón]£ÓÇ]ÎxÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó£ä]x£Ó
Î ]xÓx]£Î Ê
Çä] £äÊ
ÎÇ]ÎÇ{]{ä{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ È£]{äÈ
£n]Ó{ ]Î{ÈÊ
ÎÓ]Ç{äÊ
£{]Çää]£ÓÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó{]£xÓ
ÌiÃÊÀiVi Û>L iÊ iÌ®Ê -Õ `ÀÞÊ`iLÌ ÀÃÊ
Ê
ÌiÃÊ> `Ê>VV Õ ÌÃÊÀiVi Û>L iÃÊÌ ÊÀi >Ìi`ÊV «> iÃÊ
ÎÇÎ]ÈxnÊ
ÈÇ£Ê
£Îä]{{ÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó£{
Ê
ÓÓx]xÓä]Î nÊ
{ä{]x ÎÊ
Óän]nÎx]{ÈÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î{Î]££È
,iV ÛiÀ>L iÊÌ>ÝiÃÊ Ê
ÓÇ]ÎÈn]Î{nÊ
{ ]£ääÊ
ÓÓ]xÇx]£ÎÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÎÇ]ä £
*Ài«> `ÊiÝ«i ÃiÃÊ Ê
È]Ç{x]{nxÊ
£Ó]£äÓÊ
Ç]äÓ£]nÇÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ££]xÎÇ
Ûi Ì À iÃÊ iÌ®Ê
iviÀÀi`ÊÌ>ÝiÃÊ
Ê
Î]ÎÈx]£Î Ê
È]äÎÇÊ
{]ΣÓ]ÈÇÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ç]änÈ
"Ì iÀÊVÕÀÀi ÌÊ>ÃÃiÌÃÊÊ
{n]Ó££]ÓxÇÊ
nÈ]{ ÎÊ
nÇ] ä]nÇÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £{{]xÈn
/ Ì> ÊVÕÀÀi ÌÊ>ÃÃiÌÃÊ
ÇnÈ]nÈn]ä{xÊ
£]{££]ÈÇÈÊ
Èx£]Î Ó] n£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]äÇä]ÓÎx
£]£xÇ]ÇÓÇ]Ó {Ê
Ó]äÇÇ]ä£ÎÊ
£]£Î{]äÓ£]ÎÇÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]nÈÎ]£ ä
{ÎÈ] {È]ÇÓnÊ
ÇnÎ] äÓÊ
{ÎÎ]ÇxÎ]{Î{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ç£Ó]Èx{
£]xx{]äÇÈ]nnÈÊ
Ó]Çnn]änÓÊ
£]{ £]{ x] x{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]{xä]x£
£Î{]Çä£]È£ÎÊ
Ó{£]ÈÈ£Ê
È]xxÎ]{ äÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £xn]ÈÎÈ
{Ç]xÎ ]{ÇÇÊ
nx]ÓnnÊ
{Ç]ÇÎx]nnÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Çn]{Îä
£]ä ]ÇxÎ]{ÓήÊ
£] ÇÎ]ääÈ®Ê
£]äÎä]äÇÎ]ÎÎήÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]È Ó]{ä{®
Ó]ÓΣ]ÓÎn]xÇxÊ
{]ääÓ] {äÊ
Ó]£ÇÎ]{nÈ]Ç ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î]xÇ£]äÓx
ÓÈ] ÇÓ]nääÊ
{n]Î äÊ
£ ]ÈÈn]Î{äÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÎÓ]Σx
£Ó ]xÇÎÊ
ÓÎÓÊ
£Ó ]{näÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó£Î
x ]äxÈ]ΣxÊ
£äx] xäÊ
Èx]ÓÇx]ÎÓÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £äÇ]Ó{Ç
Óx]äÎx]£xä®Ê
{{] £{®Ê
Îx]Ón£]Ç{n®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ xÇ] Èn®
{]ÓxÓ]ÎÇÇÊ
Ç]ÈÓ Ê
Ó]Σä]{ΣÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î]Ç È
Ê
Ê
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ
Ýi`Ê>ÃÃiÌÃ > `Ê> `Ê« > Ì>Ì ÃÊ Õ ` }ÃÊ> `ÊV ÃÌÀÕVÌ ÃÊ >V iÀÞÊ> `ÊiµÕ « i ÌÊ "Ì iÀÊwÝi`Ê>ÃÃiÌÃÊ Ê VÀi>Ãi`ÊÛ> ÕiÊvÀ ÊÌiV V> Ê>««À> Ã> Ê vÊwÝi`Ê>ÃÃiÌÃÊ
i«ÀiV >Ì Ê
Ê
/ Ì> Ê iÌÊwÝi`Ê>ÃÃiÌÃÊ "Ì iÀÊ>ÃÃiÌà ÛiÃÌ i ÌÊ ÊÀi >Ìi`ÊV «> iÃÊ ÛiÃÌ i ÌÊ Ê Ì iÀÊV «> iÃÊ `Ü Ê iÌ®Ê
Ê
i}>Ì ÛiÊ} `Ü Ê iÌ®Ê } ÌiÀ Ê`iLÌ ÀÃÊ Ê ÌiÃÊ> `Ê>VV Õ ÌÃÊÀiVi Û>L iÃÊÌ ÊÀi >Ìi`ÊV «> iÃÊ }ÊÌiÀ Ê Ì> } L iÃÊ iÌ®Ê
Ê
£]Ç È]n£{Ê
Î]ÓÓ{Ê
£]Ç ]äx£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó] xÈ
"Ì iÀÃÊ
Ê
Ê£]{{x] ÓxÊ
ÊÓ]x ÎÊ
Ê£]ÎÇ£]{££ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÓ]ÓxÎ
/ Ì> Ê Ì iÀÊ>ÃÃiÌÃÊ ÊÊ / Ì> Ê>ÃÃiÌÃÊ
Ê
/ iÊ>VV «> Þ }Ê ÌiÃÊ£ÊÌ ÊÎxÊ>ÀiÊ> Ê Ìi}À> Ê«>ÀÌÊ vÊÌ iÃiÊV à `>Ìi`Êw > V > ÊÃÌ>Ìi i Ìð
x
n
Èn]È£n]Èx{Ê
Ê£ÓÎ]£ä{Ê
Êxx]ÓÇÓ]Ó £ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ê ä]n£Ó
Î]änÈ]ÇÓx]ÓÇ{Ê
x]xÎÇ]ÇÓäÊ
Ó]nnä]£xÓ]äÇ£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {]ÇÎÓ]äÇÓ
Ê
Ê
Ê
>L Ì iÃÊ> `Êà >Ài `iÀýÊiµÕ ÌÞÊ Ê
Ê
Ê
Ê
Ê
Ê
Óää{Ê
Ê
ÌÊ iVi LiÀÊΣ]Ê Ê
/ fÊ
Ê
/ 1-fÊ
/ fÊ
ÓääÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊ/ 1-f
ÕÀÀi ÌÊ >L Ì ià >L Ì iÃÊÜ Ì ÊL> ÃÊ> `Êw > V > Ê ÃÌ ÌÕÌ ÃÊ Êà ÀÌÊÌiÀ Ê - ÀÌ ÌiÀ Ê« ÀÌ Ê vÊ } ÌiÀ Ê >L Ì iÃÊÜ Ì ÊL> ÃÊ> `Êw > V > Ê ÃÌ ÌÕÌ ÃÊ `ÃÊ ÃÃÕi`ÊÊ
Ê
ÕÀÀi ÌÊ« ÀÌ Ê vÊ Ì iÀÊ } ÌiÀ Ê >L Ì iÃÊ
£]x£x]ÎxÇÊ
Ó]Ç£ Ê
Ó]{äÇ]x ÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î] xÈ ÓÇ]Ó È]£ ÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {{]n{n
Î]£Èx]£nÓÊ
x]ÈÇnÊ
£{ä]äÎ{]£x£Ê
Óx£]ÓÓÇÊ
Çnn]nÈÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]Ó È
x]xÓÎ]ÓÎÈÊ
] ä Ê
{ä]nÓÇ] ÈÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÈÇ]änä
Û `i `ÃÊ«>Þ>L iÊ Ê
Óx]äÓx]Î £Ê
{{]n ÇÊ
£Ç]Ó£ ]Î £ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ón]Ó Ó
VV Õ ÌÃÊ«>Þ>L iÊ Ê
{]ä£È]Ó ÇÊ
£Èn]ÈÈ Ê
nn]nÈÈ]{ÇÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £{È]ääÇ Î]ÎnÇ]£Ç£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ x]xÈx
ÌiÃÊ«>Þ>L iÊ
Ê
Î]ä ]{{ÈÊ
x]xÈ£Ê
-Õ `ÀÞÊVÀi` Ì ÀÃÊ
Ê
£]ÎxÈ]ÇÎnÊ
Ó]{Î{Ê
ÇÓ ] ÇÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]£
È ]ÓÇ£Ê
£Ó{Ê
£]{x{]ÇÈnÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]Î ä
ÌiÃÊ> `Ê>VV Õ ÌÃÊ«>Þ>L iÊÌ ÊÀi >Ìi`ÊV «> iÃÊ *À Û Ã ÃÊ
Ê
£È]Ó {]ÓÈÇÊ
Ó ]ÓÎÎÊ
£È]ÓÈÎ]È£ÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓÈ]ÇÓ£
7 Ì ` }ÃÊ
Ê
È] ££]ÇnxÊ
£Ó]{ääÊ
{]£ÓÎ]ÓÇÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ È]ÇÇx
V iÊÌ>ÝÊ
Ê
Ê
Ê
{]xnÈ]Ó£nÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ç]xÎx
1 i>À i`Ê V iÊ Ê
£]ÎÓ£]{ÈÇÊ
Ó]ÎÇ£Ê
£]£Èx]£ÓxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £] £{
"Ì iÀÊVÕÀÀi ÌÊ >L Ì iÃÊ
ÊÓ]ääÇ] È Ê
ÊÎ]ÈäÓÊ
ÊÇÎÓ]Ó ÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ê£]ÓäÎ
Îää]Î{ä]xxÇÊ
xÎn]nÓ{Ê
Óä ]n{n] Ó ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î{{]Çn£
/ Ì> ÊVÕÀÀi ÌÊ >L Ì iÃÊ } ÌiÀ Ê >L Ì ià >L Ì iÃÊÜ Ì ÊL> ÃÊ> `Êw > V > Ê ÃÌ ÌÕÌ ÃÊ
ÓÈ{]ÇÈx]äääÊ
{Çx]äääÊ
££n]Ènx]ÇÇxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ x]äää
`ÃÊ ÃÃÕi`Ê
Ê
£ÈÇ]ÓÓä]äääÊ
Îää]äääÊ
ÎÎ{]Çx{]ÇxäÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ xxä]äää
Ê
££]ÇÇÎ]ÎÎäÊ
Ó£]£ÓÓÊ
Óx]Çx{]ÇÓÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {Ó]Σx
*À Û Ã ÃÊ
Ê
Ón]£È{]Çx Ê
xä]xÓ Ê
ÓÇ] xÎ]ÇÈÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {x] Ón
iviÀÀi`ÊÌ>ÝiÃÊ
Ê
xÎ]£{Î]äxÈÊ
x]Î{£Ê
{ä]Çxx] £äÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÈÈ] È£
xÓx]äÈÈ]£{xÊ
{£] ÓÊ
x{Ç] ä{] ÓnÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ää]Óä{
ÈÓ]xn£]nÓ Ê
Ê££Ó]ÓÇxÊ
ÊÈÎ]Óxn]nxxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ê£äÎ] Î{
ÌiÃÊ«>Þ>L iÊ
/ Ì> Ê } ÌiÀ Ê >L Ì iÃÊ À ÌÞÊ ÌiÀiÃÌÊ ÊÊ - >Ài `iÀýÊiµÕ ÌÞ *> ` ÊV>« Ì> Ê
Ê
n] x ]Î nÊ
£ÇÇ]xÎÇÊ
n] x ]Î nÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ÈÓ]x ä
"Ì iÀÊÀiÃiÀÛiÃÊ
Ê
ÇnÇ]nÎä]ÇÓxÊ
£]{£Î]{äÎÊ
Çxx]Çäx]{nÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]Ó{£]È£
,iÌ> i`Êi>À }Ã\ ,iÃiÀÛiÊv ÀÊvÕÌÕÀiÊ` Û `i `ÃÊ VVÕ Õ >Ìi`Êi>À }ÃÊ iÌÊ V iÊv ÀÊÌ iÊÞi>ÀÊ ÌiÀ Ê` Û `i `ÃÊ Ê
£{]nÎä]{ÈÈÊ
ÓÈ]ÈäÈÊ
£{]nÎä]{ÈÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó{]ÎÈÈ
£]£Ç£]£ÇÈ]ää Ê
Ó]£ä£]£{£Ê
£]ä {]Çän]ÈÈÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]Ç n]Èää
£Èn]£Óä]£{xÊ
Îä£]È£xÊ
£ÓÇ]Ç£n] {ÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Óä ]n{£
Ê{Ó]£nä]äää®Ê
ÊÇx]ÈÇήÊ
ÊÎÓ]ÇnÎ]Èää®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊxÎ]nÈή
/ Ì> Êà >Ài `iÀýÊiµÕ ÌÞÊ
Ó]£ n]ÇÎÈ]Ç{ÎÊ
Î] {{]ÈÓ Ê
Ó]äx ]£Î ]Îx ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î]ÎnÎ]£xÎ
/ Ì> Ê >L Ì iÃÊ> `Êà >Ài `iÀýÊiµÕ ÌÞÊ
Î]änÈ]ÇÓx]ÓÇ{Ê
x]xÎÇ]ÇÓäÊ
Ó]nnä]£xÓ]äÇ£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {]ÇÎÓ]äÇÓ
/ iÊ>VV «> Þ }Ê ÌiÃÊ£ÊÌ ÊÎxÊ>ÀiÊ> Ê Ìi}À> Ê«>ÀÌÊ vÊÌ iÃiÊV à `>Ìi`Êw > V > ÊÃÌ>Ìi i Ìð
x
" -" / Ê-/ / /Ê" Ê " /À> Ã >Ì Ê vÊÌ iÊ À } > Ê Ê-«> Ã ®
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Óää{Ê
ÀÊÌ iÊÞi>ÀÃÊi `i`Ê iVi LiÀÊΣ]Ê Ê
Ê
Ê
Ê
Ê
/ fÊ
Ê
/ 1-fÊ
/ fÊ
ÓääÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊ/ 1-f
"«iÀ>Ì }ÊÀiÃÕ ÌÃ -> iÃÊ
Ê
£]äÇÇ]xÇÓ]Ç £Ê
£] ÎÎ]Ó£ÎÊ
£]ä£Ç]n{Ç]£{äÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]ÈÇÓ]ΣÇ
ÃÌÊ vÊÃ> iÃÊ
ÊÊ
ÈÓ ]x Î]£Èä®Ê
£]£Ó ]x£n®Ê
È£x]xx{]Èä ®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]䣣]ÎxÓ®
À ÃÃÊ >À} Ê
Ê
{{Ç] Ç ]ÈΣÊ
näÎ]È xÊ
{äÓ]Ó Ó]xΣÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÈÈä] Èx
ÊÓÓn]ÇÈÎ]ÇÈÈ®Ê
Ê{£ä]{£Ó®Ê
Ó£È]ÈÈ{]äÎÈ®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÎxx] Çn®
Ó£ ]Ó£x]nÈxÊ
Î Î]ÓnÎÊ
£nx]ÈÓn]{ xÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Îä{] nÇ
Ê
È] Î ]ÇääÊ
£Ó]{xäÊ
{]ÓÎÎ]xÎxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ È] xx
> Ê Ê ÛiÃÌ i ÌÊ ÊÀi >Ìi`ÊV «> iÃÊ
Ó]xÓn]xÈ Ê
{]xÎÇÊ
£]n£n]£{xÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó] nÇ
£Ó]{Èx]ÎxnÊ
ÓÓ]ÎÈ{Ê
]£Çä]ÎÈÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £x]äÈÇ
` ÃÌÀ>Ì ÛiÊ> `ÊÃi }ÊiÝ«i ÃiÃÊ "«iÀ>Ì }Ê V iÊÊ «iÀ>Ì }ÊÀiÃÕ Ìà > V > Ê V iÊ
"Ì iÀÊ «iÀ>Ì }Ê V iÊ ÃÃÊ Ê ÛiÃÌ i ÌÊ ÊÀi >Ìi`ÊV «> iÃÊ ÀÌ â>Ì Ê vÊ} `Ü Ê > V > ÊiÝ«i ÃiÃÊ Ê
n]Óx£®Ê
£x®Ê
£Ó]{Ç ®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó£®
{]È£ ]ä£Ç®Ê
n]ÓnÇ®Ê
{]ÇÈÓ] {Ó®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ç]nÓx®
Ó ]ÈÓ{]äÓÓ®Ê
xÎ]£{Ç®Ê
Σ]xÓÎ]Çx{®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ x£]Ç Î®
"Ì iÀÊ «iÀ>Ì }ÊiÝ«i ÃiÃÊ
Ç]äÇÈ]ÈÈx®Ê
£Ó]È È®Ê
È]È££]ÇäÓ®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ä]nÈή
*À Vi iÛi ÊÀiÃÌ>Ìi i ÌÃÊ
Ó]ÎÇÇ]ӣȮÊ
{]ÓÈx®Ê
£]ÇÇ ] {äÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó] Ó{
Ài } ÊiÝV > }iÊ}> ÃÊ ÃÃiÃ®Ê «iÀ>Ì }Ê ÃÃÊ
Ê{]ä£{]äx{Ê
ÊÇ]Óä£Ê
ÊÇ]x££]äÎ ®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ê£Ó]Î{£®
£Ç]ÇxÇ]{ ä®Ê
Σ]nxn®Ê
ÎÎ]{£ ] Ó ® ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ x{] £ä® £xÓ]Óän]xÈÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Óxä]äÇÇ
V iÊLiv ÀiÊ V iÊÌ>ÝiÃÊ
Óä£]{xn]ÎÇxÊ
ÎÈ£]{ÓxÊ
V iÊÌ>ÝiÃÊ
ÎÓ]Î £]{{{®Ê
Êxn]££Ó®Ê
ÓÎ] ÓÈ] ÇÈ®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÎ ]ΣӮ
£È ]äÈÈ] ΣÊ
ÎäÎ]ΣÎÊ
£Ón]Ón£]x äÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó£ä]ÇÈx
Ê
à `>Ìi`Ê V iÊ À ÌÞÊ ÌiÀiÃÌÊ iÌÊ V iÊ
Ê
Ó] Σ]nÓÓ®Ê
Êx]Óx ®Ê
ÊÓ]ÎÎ{]Ó{ä®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÎ]nÎx®
Ê
£ÈÈ]£Îx]£ä Ê
Ó n]äx{Ê
£Óx] {Ç]ÎxäÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓäÈ] Îä
ÀÌ â>Ì Ê vÊ i}>Ì ÛiÊ} `Ü Ê iÌÊ V iÊv ÀÊÌ iÊÞi>ÀÊ
/ iÊ>VV «> Þ }Ê ÌiÃÊ£ÊÌ ÊÎxÊ>ÀiÊ> Ê Ìi}À> Ê«>ÀÌÊ vÊÌ iÃiÊV à `>Ìi`Êw > V > ÊÃÌ>Ìi i Ìð
È
ä
Ê£] nx]äÎÈÊ
ÊÎ]xÈ£Ê
Ê£]ÇÇ£]x ÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÓ] ££
£Èn]£Óä]£{xÊ
Îä£]È£xÊ
£ÓÇ]Ç£n] {ÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Óä ]n{£
" -" / Ê-/ / /Ê" Ê - Ê "7/À> Ã >Ì Ê vÊÌ iÊ À } > Ê Ê-«> Ã ®
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Óää{Ê
ÀÊÌ iÊÞi>ÀÃÊi `i`Ê iVi LiÀÊΣ]Ê Ê
Ê
Ê
Ê
Ê
/ fÊ
Ê
/ 1-fÊ
/ fÊ
ÓääÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊ/ 1-f
>à Êy ÜÃÊvÀ Ê «iÀ>Ì }Ê>VÌ Û Ì ià iÌÊ V iÊv ÀÊÌ iÊÞi>ÀÊ
£Èn]£Óä]£{xÊ
Îä£]È£xÊ
£ÓÇ]Ç£n] {ÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Óä ]n{£
> Ê ÊÃ> iÊ vÊwÝi`Ê>ÃÃiÌÃÊ
n]nä{]ÈÎn®Ê
£x]Ç È®Ê
ÎÇn]äÈ{®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÈÓ£®
ÃÃÊ ÊÃ> iÊ vÊ Ì iÀÊ>ÃÃiÌÃÊ
Ê
Ê
£]Çn{]ÇäxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó] ÎÓ
nÓ]äÇ{]x{ Ê
£{Ç]Ó{xÊ
n{]ÓÎx]äÎxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £În]Î n
Ó ]££ Ê
xÓÊ
ÈÈ]Ç{ÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ££ä
£È]Çx£] ÓÈÊ
Îä]äx{Ê
£Î]n ]ÎÓÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓÓ]nÎÇ
Ó]xÓn]xÈ ®Ê
{]xÎÇ®Ê
£]n£n]£{x®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó] nÇ®
n]Óx£Ê
£xÊ
£Ó]{Ç ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó£
>À}iÃÊVÀi` ÌîÊÌ Ê V iÊ ÌÊÀi«ÀiÃi Ì }ÊV>à Êy ÜÃ\
i«ÀiV >Ì Ê
Ê
ÀÌ â>Ì Ê vÊ Ì> } L iÊ>ÃÃiÌÃÊ 7À Ìi vvÃÊ> `Ê«À Û Ã ÃÊ iÌÊ V iÊ Ê ÛiÃÌ i ÌÊ ÊÀi >Ìi`ÊV «> iÃÊ iÌÊ ÃÃÊ Ê ÛiÃÌ i ÌÊ ÊÀi >Ìi`ÊV «> iÃÊ `Ü Ê> ÀÌ â>Ì Ê i}>Ì ÛiÊ} `Ü Ê> ÀÌ â>Ì Ê
{]È£ ]ä£ÇÊ
n]ÓnÇÊ
{]ÇÈÓ] {ÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ç]nÓx
£] nx]äÎÈ®Ê
Î]xÈ£®Ê
£]ÇÇ£]x Ó®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó] ££® £]ÇÇ ] {ä®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó] Ó{®
*À Vi iÛi ÊÀiÃÌ>Ìi i ÌÃÊ
Ó]ÎÇÇ]Ó£ÈÊ
{]ÓÈxÊ
Ài } ÊiÝV > }iÊ}> ÃÊ ÃÃiîÊ
{]ä£{]äx{®Ê
Ç]Ó䣮Ê
Ç]x££]äÎ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £Ó]Î{£
"Ì iÀÊVÀi` ÌÃÊ ÌÊÀi«ÀiÃi Ì }ÊV>Ã Êy ÜÃÊ
£]££{]£Èx®Ê
£] ®Ê
{]xÓä]Î Ó®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ç]{ÓÇ®
> }iÃÊ Ê>ÃÃiÌÃÊÜ V Ê>vviVÌÊV>Ã Êy ÜÃ\ VÀi>ÃiÊ ÊÌÀ>`iÊ>VV Õ ÌÃÊÀiVi Û>L iÊ
Îä]È{{]ÎÓn®Ê
x{] ÇÇ®Ê
x]nÓ£]xÈx®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ]xÈx®
VÀi>ÃiÊ Ê Ûi Ì À iÃÊ
ÓÓ]ÈÓ£]£ä{®Ê
{ä]xnÓ®Ê
{]ÓxÇ]££ÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ È] {
Î]ÈÓn]näÇÊ
È]x£äÊ
nÇ]ÓnäÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]ÈÓÓ
iVÀi>Ãi®Ê VÀi>ÃiÊ Ê>VV Õ ÌÃÊ«>Þ>L iÊÀi >Ìi`ÊÌ Ê «iÀ>Ì }ÊÀiÃÕ ÌÃÊ
{]Ç£{]ÎÎn®Ê
n]{xn®Ê
Î]Ç{Ç] ÎnÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ È]£xn
iVÀi>ÃiÊ Ê ÌiÀiÃÌÊ«>Þ>L iÊ
Î]ÇÈ ]n xÊ
È]ÇÈÎÊ
{]£ ]ÎxäÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ È] ää
VÀi>ÃiÊ ÊÌ>ÝiÃÊ«>Þ>L iÊ
n]£äÓ]{ÇnÊ
£{]xÎÈÊ
££]£ÈÓ]ÇnÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £n]Î{ä
VÀi>ÃiÊ`iVÀi>Ãi®Ê Ê Ì iÀÊ>VV Õ ÌÃÊ«>Þ>L iÊÀi >Ìi`ÊÌ Ê «iÀ>Ì }ÊÀiÃÕ ÌÃÊ
Ó]äÇÇ]{ÈÎÊ
Î]ÇÓÇÊ
Ó]Σx]ΣäÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î]nä{
iVÀi>Ãi®Ê VÀi>ÃiÊ Ê6> ÕiÊ ``i`Ê/>ÝÊ> `Ê Ì iÀÊà >ÀÊÌ>ÝiÃÊ«>Þ>L iÊ
£]£Ç{]Ç £®Ê
Ó]£än®Ê
Î]{Î{] ÈxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ x]È{Î
VÀi>Ãi®Ê`iVÀi>ÃiÊ Ê Ì iÀÊ>ÃÃiÌÃÊ
> }iÃÊ Ê >L Ì iÃÊÜ V Ê>vviVÌÊV>Ã Êy ÜÃ\
À ÌÞÊ ÌiÀiÃÌÊ
ÊÊ
iÌÊ« Ã Ì ÛiÊV>Ã Êy ÜÃÊvÀ Ê «iÀ>Ì }Ê>VÌ Û Ì iÃÊÊ
Ó] Σ]nÓÓÊ
Êx]ÓÈäÊ
ÊÓ]ÎÎ{]Ó{äÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÎ]nÎx
Ó£È]nn ]ÈÈxÊ
În ]££äÊ
ÓxÈ]Î{ä]{ xÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {Ó£]£ÈÈ
/ iÊ>VV «> Þ }Ê ÌiÃÊ£ÊÌ ÊÎxÊ>ÀiÊ> Ê Ìi}À> Ê«>ÀÌÊ vÊÌ iÃiÊV à `>Ìi`Êw > V > ÊÃÌ>Ìi i Ìð
È
£
" -" / Ê-/ / /Ê" Ê - Ê "7/À> Ã >Ì Ê vÊÌ iÊ À } > Ê Ê-«> Ã ®
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Óää{Ê
ÀÊÌ iÊÞi>ÀÃÊi `i`Ê iVi LiÀÊΣ]Ê Ê
Ê
Ê
Ê
Ê
/ fÊ
Ê
/ 1-fÊ
/ fÊ
ÓääÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊ/ 1-f
>à Êy ÜÃÊvÀ Êw > V }Ê>VÌ Û Ì ià > ÃÊÀiVi Ûi`Ê
Ê
Îä£]£ä£]xääÊ
x{ä]£ äÊ
£Çä]Óä ]{äÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓÇ ]ÈxÎ
`ÃÊ
Ê
Ê
Ê
Ó£{]x{ ]{{£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÎxÓ]xäÎ
Ê
Ê
£äx]xnÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ÇÎ
*>Þ i ÌÊ vÊ` Û `i `ÃÊ
xÈ]nän]Îää®Ê
£ä£] £Ç®Ê
Î ]{ÎÓ]{䣮ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ È{]ÇnÇ®
*>Þ i ÌÊ vÊ > ÃÊ Ê
£xÎ]Óxn]ä ä®Ê
ÓÇ{] xÓ®Ê
Ón£]£ÈÇ]äÈÓ®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {È£] xÈ®
Ê
Ê
Ó]ÇÓx]Ó Î®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {]{Çn®
"Ì iÀÊw > V > ÊÃ ÕÀViÃÊ
*>Þ i ÌÊ vÊL `Ê ÃÃÕ> ViÊV ÃÌÊ "Ì iÀÊw > V }Ê>VÌ Û Ì iÃÊ` ÃLÕÀÃi i ÌÃÊ iÌÊ i}>Ì ÛiÊV>Ã Êy ÜÃÊvÀ Êw > V }Ê>VÌ Û Ì iÃÊ
Ê Ê
Ê Ê
Ê£n]ÇÈn®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÎä®
£]äÎx]££äÊ
£ÈÎ]ÎÓ£Ê
È£]xÓä] £äÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ä£]äÇn
>à Êy ÜÃÊvÀ Ê ÛiÃÌ i ÌÊ>VÌ Û Ì ià *À Vii`ÃÊvÀ ÊÃ> iÊ vÊwÝi`Ê>ÃÃiÌÃÊ
ÎÇ]äÓ{] Ó£Ê
ÈÈ]{Ó{Ê
xÈn]xÈxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î{
"Ì iÀÊ ÛiÃÌ i ÌÊ V iÊ
Îän]{È Ê
xxÎÊ
£]£{{]xä ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]nnä
`` Ì ÃÊ ÊwÝi`Ê>ÃÃiÌÃÊ
ÓÓÓ] Èx]nnÓ®Ê
{ää]ä£ä®Ê
Óää]Ó£x]äÓÇ®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÎÓn] xÓ®
x]ÓÇÓ] Çn®Ê
]{Èä®Ê
£]ä£n]äxn®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]ÈÇÓ®
Ê Ê
Ê Ê
Ê££]È£Ó®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ê£ ®
iÌÊ i}>Ì ÛiÊV>Ã Êy ÜÃÊvÀ Ê ÛiÃÌ i ÌÊ>VÌ Û Ì iÃÊ
£ ä] äx]{Çä®Ê
Î{Ó]{ ήÊ
£ ]xΣ]ÈÓή ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÎÓÇ]nÓ ®
iÌÊ« Ã Ì ÛiÊ i}>Ì Ûi®ÊV>à Êy ÜÃÊv ÀÊÌ iÊÞi>ÀÊ
££Ç]ä£ ]ÎäxÊ
Óä ] ÎnÊ
££n]ÎÓ ]ÇnÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ {]{£x
ÓÈ]£xÎ]nÎÓ®Ê
{È] Ó£®Ê
ÎÈ]nÈn]È £®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÈä]xÇx®
ä]nÈx]{ÇÎÊ
£ÈÎ]ä£ÇÊ
n£]{È£]ä £ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ÎÎ]n{ä
ÓÓn]££ ]Ç£ÇÊ
{ä ]ÓxÈÊ
£{È]Èxn]ÈÓÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó{ä] x
Σn] nx]£ äÊ
xÇÓ]ÓÇÎÊ
ÓÓn]££ ]Ç£ÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÎÇ{]Ç
*iÀ > i ÌÊ ÛiÃÌ i ÌÃÊ "Ì iÀÊ ÛiÃÌ i ÌÊ` ÃLÕÀÃi i ÌÃÊ
/Ê" Ê / " Ê" Ê - Ê Ê - Ê +1 6 /-Ê /Ê Ê Ê - Ê Ê - Ê +1 6 /-Ê
- Ê Ê - Ê +1 6 /-Ê /Ê
Ê" Ê9 ,Ê
- Ê Ê - Ê +1 6 /Ê /Ê Ê" Ê9 ,Ê
/ iÊ>VV «> Þ }Ê ÌiÃÊ£ÊÌ ÊÎxÊ>ÀiÊ> Ê Ìi}À> Ê«>ÀÌÊ vÊÌ iÃiÊV à `>Ìi`Êw > V > ÊÃÌ>Ìi i Ìð
È
Ó
"/ -Ê/"Ê/ Ê " -" / Ê Ê-/ / / ÌÊ`iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ/À> à >Ì Ê vÊÌ iÊ À } > Ê Ê-«> à ®
"/ Ê£Ê Ê " * 9½-Ê, -/, / " «ÀiÃ>ÃÊ * Ê-° °Ê ÃÊÀi} ÃÌiÀi`Ê>ÃÊ cÊ££xÊ ÊÌ iÊ"vwV > Ê «> ÞÊ,i} ÃÌiÀÊ> `Ê ÃÊÕ `iÀÊÌ iÊÃÕ«iÀÛ Ã Ê vÊÌ iÊ i> Ê-Õ«iÀ Ìi `i VÞÊ vÊ-iVÕÀ Ì iÃÊ> `Ê ÃÕÀ> ViÊÌ iÊ º-Õ«iÀ Ìi `i VÞ»®° / iÊÃÕLà ` >À iÃÊ `ÕÃÌÀ >ÃÊ ÀiÃÌ> iÃÊ-° °]Ê> `Ê ÛiÀà iÃÊ * Ê-° °Ê>ÀiÊÀi} ÃÌiÀi`ÊÕ `iÀÊ cÊääÈÈ]Ê> `ÊÈÇÓ]ÊÀiëiVÌ Ûi Þ°Ê
ÕÀ }Ê-i«Ìi LiÀÊÓää{]ÊÌ iÊÃÕLà ` >À iÃÊ ÀiÃÌ> Ê V Ê-° °Ê> `Ê ÀiÃÌ> Ê ÀiViÝÊ-° °]ÊV> Vi i`ÊÌ i ÀÊÀi} ÃÌÀ>Ì Ê ÊÌ iÊ-iVÕÀ Ì iÃÊ,i} ÃÌÀÞÊ vÊÌ iÊ-Õ«iÀ Ìi `i VÞÊ vÊ-iVÕÀ Ì iÃÊ > `Ê ÃÕÀ> Vi]Ê«ÕÀÃÕ> ÌÊÌ ÊiÝi «ÌÊÀià ÕÌ ÃÊ cÊ{ÎÇÊ> `Ê cÊ{{{]ÊÀiëiVÌ Ûi Þ°
"/ ÊÓÊ Ê-1 ,9Ê" Ê- /Ê
"1 / Ê*" >®Ê VV Õ Ì }Ê«iÀ ` Ê
/ iÊV à `>Ìi`Êw > V > ÊÃÌ>Ìi i ÌÃÊV ÛiÀÊÌ iÊ«iÀ `Ê > Õ>ÀÞÊ£ÊÌ Ê iVi LiÀÊΣ]ÊÓää{Ê> `Ê>ÀiÊV «>Ài`ÊÌ ÊÌ iÊÃ> iÊ«iÀ `Ê ÊÓääΰ
L®Ê >à ÃÊ vÊ«Ài«>À>Ì Ê
/ iÊV à `>Ìi`Êw > V > ÊÃÌ>Ìi i ÌÃÊ >ÛiÊLii Ê«Ài«>Ài`Ê Ê>VV À`> ViÊÜ Ì Ê-Õ«iÀ Ìi `i VÞÊÀi}Õ >Ì Ã]ÊÜ V Ê>ÀiÊV à ÃÌi ÌÊÜ Ì Ê>VV Õ Ì }Ê«À V « iÃÊ}i iÀ> ÞÊ >VVi«Ìi`Ê Ê iÊ ÃÃÕi`ÊLÞÊÌ iÊ i> Ê ÃÌ ÌÕÌiÊ vÊ VV Õ Ì> ÌÃ°Ê ÊÌ iÊiÛi ÌÊ vÊ` ÃVÀi«> VÞ]ÊÌ iÊ-Õ«iÀ Ìi `i VÞÊÀi}Õ >Ì ÃÊà > Ê«ÀiÛ> °
V®Ê >à ÃÊ vÊ«ÀiÃi Ì>Ì Ê
ÀÊ> Ê>`iµÕ>ÌiÊV «>À à ]ÊÌ iÊL> > ViÃÊ ÊÌ iÊV à `>Ìi`Êw > V > ÊÃÌ>Ìi i ÌÃÊ>ÃÊ vÊ iVi LiÀÊΣ]ÊÓääÎÊ >ÛiÊLii ÊÀiÃÌ>Ìi`Ê ÕÌ v L ÊLÞÊÌ iÊÛ>À >Ì Ê ÊÌ iÊ
ÃÕ iÀÊ*À ViÊ `iÝÊ * ®Êv ÀÊÌ iÊ«iÀ `Ê iVi LiÀÊ£]ÊÓääÎÊÌ Ê Ûi LiÀÊÎä]ÊÓää{]Ê> Õ Ì }ÊÌ ÊÓ°x¯°Ê Ê>`` Ì ]Ê ÀÊÀiV >Ãà wV>Ì ÃÊÜiÀiÊ >`iÊv ÀÊV à ÃÌi VÞÊ Ü Ì ÊÌ iÊÓää{Ê«iÀ `°
`®Ê >à ÃÊ vÊV à `>Ì Ê
/ iÊ V à `>Ìi`Ê w > V > Ê ÃÌ>Ìi i ÌÃÊ V Õ`iÊ Ì iÊ >ÃÃiÌÃ]Ê >L Ì iÃ]Ê V iÊ ÃÌ>Ìi i ÌÊ >VV Õ ÌÃÊ > `Ê V>Ã Ê y ÜÃÊ vÊ Ì iÊ *>Ài ÌÊ «> ÞÊ «ÀiÃ>ÃÊ * Ê -° °Ê > `Ê ÌÃÊ ÃÕLà ` >À ið
Ê
- } wV> ÌÊ> Õ ÌÃÊ> `ÊÀiÃÕ ÌÃÊ vÊÌÀ> Ã>VÌ ÃÊLiÌÜii ÊÌ iÊV à `>Ìi`ÊV «> iÃÊ >ÛiÊLii Êi >Ìi`Ê> `ÊÌ iÊ«>ÀÌ V «>Ì Ê vÊÌ iÊ À ÌÞÊà >Ài `iÀÃÊ >ÃÊLii Ê ÀiV } âi`Ê ÊÌ iÊw > V > ÊÃÌ>Ìi i ÌÃÊÕ `iÀÊ À ÌÞÊ ÌiÀiÃÌ°
i®Ê *À Vi iÛi ÊÀiÃÌ>Ìi i Ìà Ê
/ iÊV à `>Ìi`Êw > V > ÊÃÌ>Ìi i ÌÃÊ >ÛiÊLii ÊÀiÃÌ>Ìi`Ê Ê À`iÀÊÌ ÊÀiyiVÌÊÌ iÊivviVÌÊ vÊ«À Vi iÛi ÊV > }iÃÊ ÊÌ iÊ i> Ê«iÃ Ê Êi>V ÊÞi>ÀÊ ÌiÊÓÓ®°Ê,iÃÌ>Ìi i ÌÃÊ >ÛiÊLii ÊV> VÕ >Ìi`Ê ÊÌ iÊL>à ÃÊ vÊÌ iÊ ÃÕ iÀÊ*À ViÊ `iÝÊ«ÕL à i`ÊLÞÊÌ iÊ i> Ê ÃÌ ÌÕÌiÊ vÊ-Ì>Ì ÃÌ VÃ]ÊÜ V Êà ÜÃÊ>ÊÛ>À >Ì Ê vÊÓ°x¯Êv ÀÊÌ iÊ«iÀ `Ê iVi LiÀÊ£]Ê ÓääÎÊÌ Ê Ûi LiÀÊÎä]ÊÓää{Ê£°ä¯Êv ÀÊÌ iÊÃ> iÊ«iÀ `Ê ÊÌ iÊ«ÀiVi` }ÊÞi>À®°Ê V iÊ> `ÊiÝ«i ÃiÊ>VV Õ ÌÃÊ >ÛiÊ> à ÊLii ÊÀiÃÌ>Ìi`ÊÌ Ê«ÀiÃi ÌÊÌ i Ê ÊÞi>À i `ÊV ÃÌ> ÌÊ «ià ð
Ê
/ iÊÛ> ÕiÃÊ ÊÕ `>`iÃÊ`iÊv i Ì Ê >ÛiÊLii ÊÌÀ> à >Ìi`Ê Ì Ê i> Ê«ià ÃÊ>ÌÊ£Ê1 \Ê fÊ£Ç]ΣǰäxÊ>ÌÊ iVi LiÀÊΣ]ÊÓää{Ê fÊ£È] Óä°ääÊÌ Ê1 Ê£Ê>ÌÊ iVi LiÀÊΣ]Ê Óääή°
v®Ê ÕÀÀi VÞÊÌÀ> à >Ì Ê
ÃÃiÌÃÊ> `Ê >L Ì iÃÊ Êv Ài } ÊVÕÀÀi VÞÊ >ÛiÊLii ÊÌÀ> à >Ìi`Ê Ì Ê i> Ê«ià ÃÊ>ÌÊÌ iÊÞi>À i `ÊiÝV > }iÊÀ>ÌiÊ fÊxxÇ°{äÊ1-fÊ£Ê>ÌÊ iVi LiÀÊΣ]ÊÓää{Ê> `Ê fÊx ΰnäÊ Ì Ê1-fÊ£Ê>ÌÊ iVi LiÀÊΣ]ÊÓääή°
Ê
/ iÊ>` ÕÃÌ i ÌÊivviVÌÊ vÊ>ÃÃiÌÃÊ> `Ê >L Ì iÃÊ Êv Ài } ÊVÕÀÀi VÞÊ ÃÊÃ Ü Ê ÊÌ iÊ-Ì>Ìi i ÌÊ vÊ V iÊÕ `iÀÊ Ài } ÊiÝV > }iÊ` vviÀi ViÃ]Ê iÌÊ vÊ V> Ê y>Ì ÊivviVÌð
Ê
/ Ê V À« À>ÌiÊÌ ÊÌ iÊV à `>Ìi`Êw > V > ÊÃÌ>Ìi i ÌÃÊ vÊÌ iÊ «> ÞÊ> `Ê ÌÃÊÃÕLà ` >À iÃÊÌ iÊw > V > ÊÃÌ>Ìi i ÌÃÊ vÊÌ iÊÃÕLà ` >À iÃÊ ÌÃÊ>ÃÃiÌÃÊ> `Ê >L Ì iÃÊÜiÀiÊÌÀ> à >Ìi`Ê >ÌÊÌ iÊiÝV > }iÊÀ>ÌiÊ vÊ fÊÓ° nÊ À}i Ì iÊ«ià ÃÊÌ Ê£Ê1-fÊ fÓ° ÎÉ1-fÊ ÊÓääή°Ê1ÀÕ}Õ>Þ> Ê«ià ÃÊ>ÌÊÓÈ°ÎnÊ1,fÊÌ Ê£Ê1-fÊ1,fÓ °Ó É1-fÊ ÊÓääή]Ê> `Ê iÜÊ*iÀÕÛ > Ê Ã iÃÊ>ÌÊÌ iÊÀ>ÌiÊ vÊΰÓnÊ-fÊÌ Ê£Ê1-fÊ-fÊΰ{ÈÊ ÊÓääή°
È
Î
"/ -Ê/"Ê/ Ê " -" / Ê Ê-/ / / ÌÊ`iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ/À> à >Ì Ê vÊÌ iÊ À } > Ê Ê-«> à ®
}®Ê / iÊ`i« à ÌÃÊ> `Ê >À iÌ>L iÊÃiVÕÀ Ì ià Ê
/ iÊ`i« Ã ÌÃÊ ÊL> ÃÊ> `Êw > V > Ê ÃÌ ÌÕÌ ÃÊ>ÀiÊÛ> Õi`Ê>ÌÊV ÃÌÊ« ÕÃÊ>` ÕÃÌ i ÌÃÊ> `Ê ÌiÀiÃÌÊ>VVÀÕi`Ê>ÌÊi>V ÊÞi>ÀÊi `°
Ê
Ýi` V iÊÃiVÕÀ Ì iÃÊ>ÀiÊÃ Ü Ê>ÌÊÀiÃÌ>Ìi`Ê ÛiÃÌ i ÌÊV ÃÌÊ« ÕÃÊ ÌiÀiÃÌÊ>VVÀÕi`Ê>ÌÊi>V ÊÞi>ÀÊi `Ê>ÌÊÌ iÊÀi> Ê ÌiÀiÃÌÊÀ>ÌiÊ`iÌiÀ i`Ê ÊÌ iÊ«ÕÀV >ÃiÊ`>Ìi°Ê
Ê
ÕÌÕ> ÊvÕ `ÊÕ ÌÃÊ> `Êv Ài } Ê ÛiÃÌ i ÌÊv Õ `ÃÊ>ÀiÊ«ÀiÃi Ìi`Ê>ÌÊÌ iÊÞi>À i `ÊÕ ÌÊÛ> Õi°Ê*À Ãà ÀÞÊ ÌiÃÊ> `Ê Ì iÀÊL `ÃÊ>ÀiÊÃ Ü Ê>ÌÊÌ i ÀÊÀiÃÌ>Ìi`Ê«ÕÀV >ÃiÊV ÃÌÊ « ÕÃÊ ÌiÀiÃÌÊ>VVÀÕi`Ê>ÌÊÞi>ÀÊi `°
Ê
/ iÊÀiÃÕ Ì }Ê> Õ ÌÃÊ` Ê ÌÊiÝVii`ÊÌ i ÀÊ >À iÌÊÛ> ÕiÃ]Ê> `Ê>` ÕÃÌ i ÌÃÊ >ÛiÊLii Ê >`iÊÜ i ÊÌ iÊ >À iÌÊÛ> ÕiÊ ÃÊ ÜiÀ°
Ê
/ iÊ «> ÞÊ >ÃÊ ÛiÃÌi`ÊÀià ÕÀViÃÊ ÊÌ iÊ`i« à ÌÃÊ> `Ê >À iÌ>L iÊÃiVÕÀ Ì iÃÊ Ê i> Ê«ià Ã]ÊÜ V Ê >ÛiÊLii ÊV « i i Ìi`ÊÜ Ì Ê`iÀ Û>Ì ÛiÃÊ Ê` >ÀÃÊ> `ÊiÕÀ ]Ê Ü iÀiLÞÊÌ iÊ «iÀ>Ì Ê ÃÊÀi`i >Ìi`ÊÌ ÊÃÕV ÊVÕÀÀi V ið
®Ê Ûi Ì À ià Ê
Ûi Ì À iÃÊ vÊw à i`Ê«À `ÕVÌÃÊ> `ÊÜ À Ê Ê«À }ÀiÃÃÊ >ÛiÊLii ÊÛ> Õi`Ê>ÌÊÌ iÊ ÃÌÊÀiVi ÌÊ` ÀiVÌÊ«À `ÕVÌ ÊV ÃÌ]Ê V Õ` }ÊViÀÌ> Ê ` ÀiVÌÊ «ÕÌð
Ê
ÀiÃÌÊ« > Ì>Ì ÃÊÜ V Ê>ÀiÊ`ii i`ÊÌ ÊLiÊiÝ« Ìi`ÊÜ Ì Ê iÊÞi>ÀÊ>ÀiÊ V Õ`i`ÊÕ `iÀÊ Ûi Ì À ið
Ê
,>ÜÊ >ÌiÀ > Ã]ÊÃÕ«« iÃÊ> `Ê Ì iÀÊ «iÀ>Ì }ÊÃÕ«« iÃÊ>ÀiÊÛ> Õi`Ê>ÌÊÀiÃÌ>Ìi`ÊV ÃÌÊ>ÌÊi>V ÊÞi>ÀÊi `°
Ê
/ iÊÀiÃÕ Ì }Ê> Õ ÌÃÊ` Ê ÌÊiÝVii`ÊÌ i ÀÊÀi >Ìi`Ê iÌÊÀi> â>L iÊ> `ÊÀi« >Vi i ÌÊÛ> ÕiÃ]ÊÀiëiVÌ Ûi Þ°
Ê
Ê«À Û Ã Ê >ÃÊLii ÊÃiÌÊÕ«ÊÌ ÊV ÛiÀÊ Là iÃVi ViÊ vÊÃÕ«« iÃ]ÊÀ>ÜÊ >ÌiÀ > ÃÊ> `Ê Ì iÀÊ «ÕÌÃÊL>Ãi`Ê ÊÌ iÊÌÕÀ ÛiÀÊ> `Ê ÃÌ À V> Ê Ûi i ÌÃÊ vÊÌ iÃiÊ Ûi Ì À ið
®Ê Ü> ViÊv ÀÊÕ ÀiV ÛiÀ>L iÊ>VV Õ Ìà Ê
/ iÊ «> ÞÊ> `ÊÃÕLÃ ` >À iÃÊ >ÛiÊÃiÌÊÕ«Ê>Ê«À Û Ã Êv ÀÊÌ iÊ i `Ê vÊÕ ÀiV ÛiÀ>L iÊ ÌiÃÊ> `É ÀÊ>VV Õ ÌÃÊÀiVi Û>L i]ÊÜ V Ê ÃÊ`iÌiÀ i`Ê ÊÌ iÊL>Ã ÃÊ vÊ ÃÌ À V> Ê Ûi i ÌÃÊ ÊÌ iÊV i ÌÊ« ÀÌv Ê> `Ê> Ê> > ÞÃ ÃÊ vÊ>VV Õ ÌÃÊ`ÕiÊvÀ ÊV i ÌÃÊiÝVii` }ÊÌ iÊ À > Ê«iÀ `Ê vÊV iVÌ °
®Ê Ýi`Ê>ÃÃiÌà Ê
Ýi`Ê>ÃÃiÌÃÊ>ÀiÊÃ Ü Ê>ÌÊÀiÃÌ>Ìi`ÊV ÃÌÊ ÌiÊ££®°Ê Ê>`` Ì ]ÊÌ ÃÊV>«Ì Ê V Õ`iÃÊÌ iÊivviVÌÊ vÊÌiV V> ÊÀi>««À> Ã> ÃÊÀi} ÃÌiÀi`ÊLÞÊ «ÀiÃ>ÃÊ * Ê-° °Ê> `ÊÃÕLà ` >À iÃÊ Ê«À ÀÊÞi>Àð
Ê
ÀiÃÌÊ« > Ì>Ì ÃÊ >ÛiÊLii Ê>««À> Ãi`ÊV à `iÀ }ÊÌ iÊ >À iÌÊÛ> ÕiÃÊ ÊV v À ÌÞÊÜ Ì ÊivviVÌ ÛiÊ>VV Õ Ì }ÊÃÌ> `>À`ÃÊ> `ÊÌiV V> Ê«À V « iÃÊ}i iÀ> ÞÊ>VVi«Ìi`Êv ÀÊ Ì iÊ>««À> Ã> Ê vÊÌ iÃiÊ>ÃÃiÌðÊ/ iÊ } iÀÊÛ> ÕiÊà Ê`iÌiÀ i`Ê>L ÛiÊÌ iÊÀiÃÌ>Ìi`ÊL> > ViÊ ÊL Ã]Ê VÀi>ÃiÃÊÌ iÊ« > Ì>Ì Ê>ÃÃiÌÃÊ> `Ê ÃÊVÀi` Ìi`ÊÌ Ê ÀiÃÌÊ,iÃiÀÛiÊ µÕ ÌÞÊ >VV Õ Ì°Ê/ iÊV ÀÀië ` }Ê`iviÀÀi`ÊÌ>ÝÊ ÃÊ`i`ÕVÌi`ÊvÀ ÊÌ iÃiÊ> Õ Ìð
Ê
/ iÊ« ÀÌ Ê vÊÌ iÊ ÀiÃÌÊ,iÃiÀÛiÊV ÀÀië ` }ÊÌ ÊÌ iÊ« > Ì>Ì ÃÊiÝ« Ìi`Ê ÃÊ> Õ> ÞÊ iÌÌi`Ê vÊ>}> ÃÌÊÌ iÊ ÀiÃÌÊ,iÃiÀÛiÊ>VV Õ ÌÊ> `ÊVÀi` Ìi`ÊÌ Ê V iÊ ÊÌ iÊ V ÀÀië ` }ÊÞi>À°
®Ê Ýi`Ê>ÃÃiÌÊ`i«ÀiV >Ì Ê
Ýi`Ê>ÃÃiÌÃÊ`i«ÀiV >Ì Ê ÃÊV> VÕ >Ìi`Ê ÊÌ iÊÀiÃÌ>Ìi`ÊV ÃÌÊ vÊ>ÃÃiÌÃÊÕà }ÊÌ iÊÃÌÀ> } Ì iÊ iÌ `Ê ÛiÀÊÌ iÊiÃÌ >Ìi`ÊÀi > }ÊÕÃivÕ Ê ÛiÃÊ vÊÌ iÊ>ÃÃiÌð
®Ê i>Ãi`Ê>ÃÃiÌà Ê
Ýi`Ê>ÃÃiÌÃÊ>VµÕ Ài`ÊÕ `iÀÊ i>à }ÊV ÌÀ>VÌÃÊ>ÀiÊÀiV À`i`Ê>ÌÊÌ iÊVÕÀÀi ÌÊÛ> ÕiÊ vÊÌ iÊV ÌÀ>VÌÊ> `ÊÃ Ü ÊÕ `iÀÊ"Ì iÀÊwÝi`Ê>ÃÃiÌðÊ/ iÃiÊ>ÃÃiÌÃÊ>ÀiÊ ÌÊ i}> ÞÊ Ü i`ÊLÞÊ Ì iÊ «> ÞÊÕ Ì ÊÌ iÞÊÕÃiÊ«ÕÀV >ÃiÊ «Ì °
®Ê Ì> } L ià Ê
Ì> } L iÊ>ÃÃiÌÃÊ>ÀiÊÛ> Õi`Ê>ÌÊÀiÃÌ>Ìi`Ê«ÕÀV >ÃiÊV ÃÌÊ> `Ê>ÀiÊ> ÀÌ âi`Ê ÛiÀÊÌ iÊiÃÌ >Ìi`ÊÞi>ÀÃÊ vÊ ÛiÃÌ i ÌÊÀiÌÕÀ °
È
{
®Ê ÛiÃÌ i ÌÊ ÊÀi >Ìi`ÊV «> iÃÊ>Ãà V >Ìiî Ê
ÛiÃÌ i ÌÃÊ ÊÀi >Ìi`ÊV «> iÃÊ>ÀiÊÛ> Õi`ÊÕà }ÊÌ iÊiµÕ ÌÞÊ iÌ `Ê vÊ>VV Õ Ì }°Ê/ ÃÊÛ> Õ>Ì Ê V Õ`iÃÊÀiV } â }Ê«>ÀÌ V «>Ì Ê ÊÌ i ÀÊÀiÃÕ ÌÃÊ Ê> Ê>VVÀÕ> ÊL>à ÃÊ >vÌiÀÊi >Ì }ÊÕ Ài> âi`Ê}> ÃÊ> `Ê ÃÃiÃÊ ÊÌÀ> Ã>VÌ ÃÊÜ Ì ÊÀi >Ìi`ÊV «> iÃ°Ê ÊÌ iÊV>ÃiÃÊ vÊLÕÞ }ÊV «> iÃ]ÊÌ iÊ` vviÀi Ì > ÊLiÌÜii ÊÌ iÊ «> Þ½ÃÊiµÕ ÌÞÊ Û> ÕiÊ> `ÊÌ iÊ«ÕÀV >ÃiÊ«À ViÊ ÃÊÃ Ü Ê>ÃÊ `Ü É i}>Ì ÛiÊ} `Ü ÊÕ `iÀÊ"Ì iÀÊ>ÃÃiÌÃÊ ÀVÕ >ÀÊ cÊÎÈnÊ`>Ìi`Ê iVi LiÀÊ£Ó]Ê£ nÎ]Ê ÃÃÕi`ÊLÞÊÌ iÊ-Õ«iÀ Ìi `i VÞÊ vÊ -iVÕÀ Ì iÃÊ> `Ê ÃÕÀ> Vi®°
Ê
*ÕÀÃÕ> ÌÊÌ ÊÌ iÊ iÜÊ ÃÌÀÕVÌ ÃÊ ÃÃÕi`ÊLÞÊÌ iÊ-Õ«iÀ Ìi `i VÞÊ vÊ-iVÕÀ Ì iÃÊ> `Ê ÃÕÀ> ViÊÌ À Õ} Ê ÀVÕ >ÀÊ cÊ£]È ÇÊ`>Ìi`Ê iVi LiÀÊÎä]ÊÓääÎ]ÊÌ iÊ iÜÊ ÛiÃÌ i ÌÃÊ >`iÊ>ÃÊvÀ Ê > Õ>ÀÞÊ£]ÊÓää{]Ê>ÀiÊÛ> Õi`ÊÌ À Õ} ÊÌ iÊiµÕ ÌÞÊ iÌ `]ÊÜ V ÊV à `iÀÃÊÌ iÊÛ> Õ>Ì Ê vÊÌ iÊ ÛiÃÌ i ÌÊÕ« ÊLÕÞ }Ê>Ìʺv> ÀÊÛ> Õi»Ê vÊÌ iÊiµÕ ÌÞÊ vÊÌ iÊ >VµÕ Ài`Ê «> ÞÊ >À iÌÊÛ> ÕiÊ vÊ>ÃÃiÌÃÊ> `Ê >L Ì iî°
Ê
ÛiÃÌ i ÌÃÊ Êv Ài } ÊV «> iÃÊ>ÀiÊÛ> Õi`Ê Ê>VV À`> ViÊÜ Ì Ê/iV V> Ê Õ iÌ Ê °ÊÈ{Ê vÊÌ iÊ i> Ê ÃÌ ÌÕÌiÊ vÊ VV Õ Ì> ÌÃÊ> `Ê"vwV > Ê ÀVÕ >ÀÊ cÊx]Ó {Ê`>Ìi`Ê "VÌ LiÀÊÓä]Ê£ nÊ ÃÃÕi`ÊLÞÊ-Õ«iÀ Ìi `i VÞÊ vÊ-iVÕÀ Ì iÃÊ> `Ê ÃÕÀ> Vi°
Ê
ÊV v À ÌÞÊÜ Ì ÊÌ iÃiÊÀi}Õ >Ì Ã]ÊÌ iÊÃÕLà ` >À iÃÊ>LÀ >`]Ê * Ê ÛiÃÌ i ÌÃÊ Ì`°]Ê ÛiÀà iÃÊ * Ê >Þ > Ê Ì`°]Ê iÃÌÕ Ê ÛiÀà iÃÊ-° °]Ê/ ÃÃÕiÊ >Þ > Ê Ì`°]Ê * Ê ÕÀ «iÊ Ì`°]Ê * Ê Ã >Ê Ì`°Ê> `Ê*À «>Ê >Þ > Ê Ì`°Ê>ÀiÊV à `iÀi`Ê> ÊiÝÌi Ã Ê vÊÌ iÊ*>Ài ÌÊ «> ÞÊ> `Ê>ÀiÊÌ iÀiv ÀiÊV ÌÀ i`Ê Ê i> Ê«ià Ã]ÊÀiÃÌ>Ìi`Ê Ê iÊ Ü Ì Ê V> Ê y>Ì Ê * ®°
Ê
ÛiÃÌ i ÌÃÊ ÊÃÕLà ` >À iÃÊ Ê À}i Ì >\Ê * Ê ÛiÀà iÃÊ`iÊ À}i Ì >Ê-° °]Ê >Ê*>«i iÀ>Ê`i Ê* >Ì>Ê-° °]Ê >ÃV i Ê-° °ÊÞÊ >L Ê-° °]ÊÌ iÊ-ÕLà ` >ÀÞÊ Ê1ÀÕ}Õ>Þ\Ê «ÕÃ>Ê> `ÊÌ iÊ ÃÕLà ` >À iÃÊ Ê*iÀÖ\Ê ÀÃ>VÊ*iÀÖÊ-° °]Ê*À Ì Ã>Ê*iÀÖÊ-° °Ê> `Ê*>«i iÀ>Ê`i Ê, >VÊ-° °Ê>ÀiÊV à `iÀi`Ê«À `ÕVÌ ÛiÊV «> iÃÊÜ Ì Ê Ü Ê>VÌ Û Ì iÃ]ÊÌ iÀiv ÀiÊ>ÀiÊV ÌÀ i`Ê Ê1-Ê ` >Àð
Ê
ÃÊ`iÃVÀ Li`Ê Ê ÌiÊÓÇ]ÊÌ iÊ «> ÞÊ«iÀv À i`Ê>ÊÃÌÕ`ÞÊ> `Ê> > ÞÃ ÃÊ vÊÌ iÊÛ> ÕiÊ vÊÌ iÊ À}i Ì >Ê> `Ê1ÀÕ}Õ>Þ]ÊV V Õ` }ÊÌ >ÌÊ Ê>` ÕÃÌ i ÌÊ ÃÊÀiµÕ Ài`Êv ÀÊÌ ÃÊV Vi«ÌÊ >ÃÊ Ê «> À i ÌÊ ÊÌ i ÀÊÛ> ÕiÊ >ÃÊLii Ê`iÌiÀ i`°
®Ê `Ü Ê> `Ê i}>Ì ÛiÊ} `Ü Ê
/ iÊ` vviÀi ViÊ}i iÀ>Ìi`ÊLiÌÜii ÊÌ iÊ«ÕÀV >ÃiÊ vÊ ÌiÀiÃÌÊ ÊV «> iÃÊ> `ÊÌ i ÀÊ iÌÊL ÊÛ> Õi]ÊV> VÕ >Ìi`Ê ÊÌ iÊÀiëiVÌ ÛiÊ«ÕÀV >ÃiÊ`>ÌiÊ ÃÊ«ÀiÃi Ìi`Ê Ê"Ì iÀÊ ÃÃiÌÃÊ >ÃÊ i}>Ì ÛiÊ} `Ü É} `Ü ®°Ê/ iÃiÊ` vviÀi ViÃÊ>ÀiÊ> ÀÌ âi`Ê ÛiÀÊÌ iÊiÃÌ >Ìi`Ê«iÀ `Ê vÊ ÛiÃÌ i ÌÊÀiÌÕÀ ]ÊÜ V Ê ÃÊiÃÌ >Ìi`Ê>ÌÊÓäÊÞi>ÀÃÊ ÊÌ iÊv ÀiÃÌÊ `ÕÃÌÀÞ°
«®Ê > V > Ê ÛiÃÌ i Ìà Ê
-iVÕÀ Ì iÃÊ«ÕÀV >Ãi`ÊÕ `iÀÊÀiÃ> iÊ>}Àii i ÌÃÊ>ÀiÊÛ> Õi`Ê>ÌÊÀiÃÌ>Ìi`ÊV ÃÌÊ« ÕÃÊ ÌiÀiÃÌÊ>VVÀÕi`Ê>ÌÊÞi>ÀÊi `°Ê/ iÃiÊÛ> ÕiÃÊ>ÀiÊÃ Ü ÊÕ `iÀÊ"Ì iÀÊVÕÀÀi ÌÊ>ÃÃiÌð
Ê
ÃÌÀÕ i ÌÃÊà `ÊÕ `iÀÊÀi«ÕÀV >ÃiÊ>}Àii i ÌÃÊ>ÀiÊÛ> Õi`Ê>ÌÊÀiÃÌ>Ìi`Ê«ÕÀV >ÃiÊV ÃÌÊ« ÕÃÊ>VVÀÕi`Ê ÌiÀiÃÌÊ>ÌÊÞi>ÀÊi `Ê> `Ê>ÀiÊÃ Ü Ê Ê"Ì iÀÊVÕÀÀi ÌÊ>ÃÃiÌðÊ/ iÊÀi >Ìi`Ê L }>Ì Ê ÃÊÃ Ü Ê>ÌÊ ÌÃÊ À } > ÊÛ> ÕiÊ« ÕÃÊ ÌiÀiÃÌÊ> `ÊÀiÃÌ>Ìi i ÌÃÊ>VVÀÕi`Ê>ÌÊw > V > ÊÃÌ>Ìi i ÌÃÊÕ `iÀÊ"Ì iÀÊVÕÀÀi ÌÊ >L Ì ið
Ê
/ iÊ «> ÞÊ >ÃÊ ÛiÃÌi`ÊÀià ÕÀViÃÊ ÊÀiÃ> iÊ>}Àii i ÌÃÊ Ê i> Ê«ià Ã]ÊV « i i Ìi`ÊÜ Ì Ê`iÀ Û>Ì ÛiÃÊ Ê` >ÀÃÊ> `ÊiÕÀ Ã]ÊÜ iÀiLÞÊÌ iÊ «iÀ>Ì Ê ÃÊÀi`i >Ìi`Ê Ì ÊÃÕV ÊVÕÀÀi V ið
µ®Ê `ÃÊ«>Þ>L i Ê
/ ÃÊV>«Ì Ê V Õ`iÃÊÌ iÊ L }>Ì ÊvÀ Ê>ÊL `Ê ÃÃÕi`ÊLÞÊ ÛiÀà iÃÊ * Ê-° °Ê> `Ê« >Vi`Ê>LÀ >`]ÊÜ V Ê ÃÊÀiV À`i`Ê>ÌÊÌ iÊÀiÃÌ>Ìi`Ê > ÊÛ> ÕiÊ> `Ê ÌiÀiÃÌÊ>VVÀÕi`Ê >ÌÊÞi>ÀÊi `°Ê/ iÊ` vviÀi ViÊvÀ ÊV Ãà ÃÊ> `Ê Ì iÀÊL `Ê« >Vi i ÌÊiÝ«i ÃiÃÊÜ>ÃÊV >À}i`ÊÌ Ê V iÊ ÊÌ iÊÀiëiVÌ ÛiÊ`>Ìi°
À®Ê V iÊÌ>ÝiÃÊ> `Ê`iviÀÀi`ÊÌ>Ýià Ê
/ iÊ*>Ài ÌÊ «> ÞÊ> `ÊÃÕLà ` >À iÃÊÃiÌÊÕ«Ê V iÊÌ>ÝÊ«À Û Ã Ã]ÊÜ V ÊÜiÀiÊV >À}i`ÊÌ Ê V iÊv ÀÊÌ iÊÞi>À]Ê ÊV v À ÌÞÊÜ Ì ÊVÕÀÀi ÌÊÌ>ÝÊ i} à >Ì Ê Ê iÊ> `É ÀÊ V Õ ÌÀ iÃÊ ÊÜ V ÊÌ iÊÀiëiVÌ ÛiÊ V iÊ ÃÊ}i iÀ>Ìi`°
Ê
Ê>VV À`> ViÊÜ Ì Ê ÃÌÀÕVÌ ÃÊ ÃÃÕi`ÊLÞÊÌ iÊ-Õ«iÀ Ìi `i VÞÊÕ `iÀÊ ÀVÕ >ÀÊ cÊ£{ÈÈ]ÊivviVÌ ÛiÊÓäää]ÊÌ }Ê` vviÀi ViÃÊ>À à }ÊvÀ Ê> ÊÌ }Ê` vviÀi ViÃÊLiÌÜii ÊÌ>ÝÊ > `Êw > V > ÊL> > ViÃÊ>ÀiÊÀiµÕ Ài`ÊÌ ÊLiÊÀiV À`i`ÊL>Ãi`Ê ÊÌ iÊVÕÀÀi ÌÊÌ>ÝÊÀ>ÌiÊ ÊÌ iÊiÃÌ >Ìi`Ê`>ÌiÊ vÊÀiÛiÀÃi]Ê>ÃÊÃÌ «Õ >Ìi`ÊÕ `iÀÊ/iV V> Ê Õ iÌ ÃÊ cÊÈä]ÊÈn]ÊÈ Ê> `Ê Ç£Ê ÃÃÕi`ÊLÞÊÌ iÊ i> Ê ÃÌ ÌÕÌiÊ vÊ VV Õ Ì> ÌðÊ
Ã®Ê -Ì>vvÊÃiÛiÀ> ViÊ `i Ì ià Ê
/ iÊ«À Û Ã ÊÃiÌÊÕ«ÊÌ ÊV ÛiÀÊÌ iÊ >L ÌÞÊv ÀÊÃiÛiÀ> ViÊ `i Ì iÃÊ>}Àii`ÊÜ Ì ÊÌ iÊ «> Þ½ÃÊÃÌ>vvÊ ÃÊ«ÀiÃi Ìi`Ê>ÌÊÌ iÊ>VVÀÕi`ÊÛ> ÕiÊ>ÌÊi>V ÊÞi>ÀÊi `°Ê/ >ÌÊ« ÀÌ Ê iÃÌ >Ìi`ÊÌ ÊLiÊ«> `ÊÜ Ì Ê iÊÞi>ÀÊ ÃÊÃ Ü Ê ÊÌ iÊà ÀÌÊÌiÀ °
Ê
6>V>Ì ÊÃÌ>vvÊV ÃÌÃÊ>ÀiÊÀiV À`i`Ê Ê> Ê>VVÀÕi`ÊL>à ð
Ì®Ê "«iÀ>Ì }Ê V i Ê
"«iÀ>Ì }Ê V iÊ ÃÊ À } >Ìi`ÊvÀ ÊÃ> iÃÊ vÊ«À `ÕVÌÃÊ`i ÛiÀi`Ê> `ÊÀiV À`i`Ê>ÌÊÌ iÊv> ÀÊÛ> ÕiÊ vÊL }°Ê"«iÀ>Ì }Ê V iÊvÀ ÊiÝ« ÀÌÃÊ ÃÊÛ> Õi`Ê>ÌÊÌ iÊL }Ê«À ViÊL>Ãi`Ê ÊÌ iÊiÝV > }iÊÀ>ÌiÊ>ÌÊ Ì Êi `°
È
x
"/ -Ê/"Ê/ Ê " -" / Ê Ê-/ / / ÌÊ`iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ/À> à >Ì Ê vÊÌ iÊ À } > Ê Ê-«> à ®
Õ®Ê iÀ Û>Ì ÛiÊV ÌÀ>VÌà Ê
iÀ Û>Ì ÛiÊV ÌÀ>VÌÃÊ >ÛiÊLii ÊÃÕLÃVÀ Li`Ê Ê À`iÀÊÌ ÊV ÛiÀÊ} L> ÊiÝV > }iÊÀ>ÌiÊÀ à ÃÊ vÊÌ iÊ «> ÞÊ> `ÊÃÕLà ` >À iðÊ-ÕV ÊV ÌÀ>VÌÃÊ>ÀiÊÛ> Õi`Ê>VV À` }ÊÌ ÊÌ iÊv> ÀÊ Û> ÕiÊÌ iÞÊ«ÀiÃi ÌÊ>ÌÊÞi>ÀÊi `]Ê> `ÊÌ iÊ` vviÀi ViÊ>}> ÃÌÊ ÃÊÀiV À`i`Ê ÊÌ iÊÀiëiVÌ ÛiÊ V i°
Û®Ê «ÕÌiÀÊà vÌÜ>Ài Ê
«ÕÌiÀÊà vÌÜ>ÀiÊÕÃi`Êv ÀÊ>` ÃÌÀ>Ì ÛiÊ«ÕÀ« ÃiÃÊLÞÊÌ iÊ «> ÞÊ> `ÊÃÕLà ` >À iÃÊÜiÀiÊ`iÛi «i`Ê ÌiÀ > ÞÊ Ê«À ÀÊÞi>ÀÃÊÜ Ì Ê «> ÞÊvÕ `Ã]Ê> `ÊÌ iÊÀi >Ìi`Ê iÝ«i ÃiÃÊv ÀÊ`iÛi « i ÌÊ>ÀiÊV >À}i`ÊÌ Ê V iÊ>ÃÊ VÕÀÀi`Ê ÊÌ iÊÀiëiVÌ ÛiÊ«iÀ `ð
Ê
/ iÊV ÃÌÊ vÊV «ÕÌiÀÊà vÌÜ>ÀiÊ«ÕÀV >Ãi`ÊvÀ ÊÌ À`Ê«>ÀÌ iÃÊ ÃÊV à `iÀi`Ê>ÃÊ«>ÀÌÊ vÊÌ iÊ}i iÀ> Ê>` ÃÌÀ>Ì Ê`ÕÀ }ÊÌ iÊV ÕÀÃiÊ vÊ ÌÃÊ « i i Ì>Ì °
Ê
/ iÊV ÃÌÊ vÊÃ vÌÜ>ÀiÊ>ÃÃ V >Ìi`ÊÌ Ê >V iÃÊ> `Ê Ì iÀÊ«À `ÕVÌ Ê>ÃÃiÌÃÊ ÃÊV >À}i`ÊÌ Ê V iÊ ÊÌ iÊÃÌ>ÀÌ Õ«Ê`>Ìi°
Ü®Ê ,iÃi>ÀV Ê> `Ê`iÛi « i ÌÊV ÃÌà Ê
/ iÊ*>Ài ÌÊ «> ÞÊ> `ÊÃÕLà ` >À iÃÊ >ÛiÊÀiV À`i`ÊÀiÃi>ÀV Ê> `Ê`iÛi « i ÌÊV ÃÌÃÊ VÕÀÀi`Ê ÊÌ iÊ«À `ÕVÌ Ê«À ViÃÃÊÕ `iÀÊiÝ«i ÃiÃÊ`ÕÀ }ÊÌ iÊÞi>À°
Ý®Ê >à Êy Üà Ê
/ iÊ «> ÞÊ> `ÊÃÕLà ` >À iÃÊ >ÛiÊ`iw i`Êà ÀÌ ÌiÀ Ê ÛiÃÌ i ÌÃÊV à `iÀi`Ê>ÃÊ«>ÀÌÊ vÊÌ iÊ}i iÀ> Ê>` ÃÌÀ>Ì Ê vÊV>à ÊÃÕÀ« ÕÃiÃÊ>ÃÊV>à Ê> `ÊV>à ÊiµÕ Û> i ÌÃÊ Ê V v À ÌÞÊÜ Ì Ê/iV V> Ê Õ iÌ Ê cÊxäÊ ÃÃÕi`ÊLÞÊÌ iÊ i> Ê ÃÌ ÌÕÌiÊ vÊ VV Õ Ì> ÌÃ°Ê >à ÊiµÕ Û> i ÌÃÊ V Õ`iÊÌ iÊ`i« à ÌÃÊ> `Ê >À iÌ>L iÊÃiVÕÀ Ì iÃÊÃÕV Ê>ÃÊà ÀÌ ÌiÀ Ê ÛiÃÌ i ÌÃÊÕ `iÀÊÀiÃ> iÊ> `ÊÀi«ÕÀV >ÃiÊ>}Àii i ÌÃ]Ê i> Ê i ÌÀ> Ê > Ê*À Ãà ÀÞÊ ÌiÃ]ÊÕ ÌÃÊ Ê ÛiÃÌ i ÌÊ Õ `Ã]Ê ÛiÃÌ i ÌÃÊ Ê ÕÌÕ> ÊvÕ `ÊÕ ÌÃÊ> `Ê Ì iÀÊ ÛiÃÌ i ÌÃ]Ê>ÃÊÃiÌÊv ÀÌ Ê Ê/iV V> Ê Õ iÌ Ê cÊxäÊ ÃÃÕi`ÊLÞÊÌ iÊ i> Ê ÃÌ ÌÕÌiÊ vÊ VV Õ Ì> Ìð
Ê
>à Êy ÜÃÊvÀ Ê «iÀ>Ì }Ê>VÌ Û Ì iÃÊ V Õ`iÊ> ÊLÕà iÃà Ài >Ìi`ÊV>à Êy ÜÃÊ>ÃÊÜi Ê>ÃÊ ÌiÀiÃÌÊ«> `]Êw > V > Ê V i]Ê` Û `i `ÃÊ> `Ê Ì iÀÊ` ÃÌÀ LÕÌ ÃÊÀiVi Ûi`Ê> `]Ê Ê }i iÀ> ]Ê> ÊV>à Êy ÜÃÊ ÌÊ`iw i`Ê>ÃÊvÀ Ê ÛiÃÌ i ÌÊ ÀÊw > V }Ê>VÌ Û Ì iðÊ/ iÊV Vi«ÌÊ vÊ «iÀ>Ì ÃÊÕÃi`Ê ÊÌ ÃÊÃÌ>Ìi i ÌÊ ÃÊ ÀiÊV «Ài i à ÛiÊÌ > ÊÌ >ÌÊÕÃi`Ê Ê Ì iÊV à `>Ìi`ÊÃÌ>Ìi i ÌÊ vÊ V i°
È
È
/ย iร vย ย ย ย ร ย ย }ร ร ร Lร ย `ย >ร ย iร ร ย >ร iร Liiย ร ย ย Vย ร `i`ร ย ย ร Vย ย ร ย ย ย `>ร ย ย ย \ ร ร ร ร
ย ย ยซ>ย ร ร
ร
ร
ร ร ร ร
ร ร
ย ร iVร ร ยฏร
ร ร รครค{ร ร ร
"ร ย iร ร ย ย ยซร ย ย ร iร iร ร ร ร ร ย `ย ร iVร ร /ย ร >ย ร ยฏร ยฏร
ร รครคร ร ร ร ร ร ร ร ร ร ร ร ร ร /ย ร >ย ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฏ
ย ร iร ร >ย ร ย ย ย ย Vย ร -ยฐ ยฐร
ย ย ยฐย ย ย ย ร
รคยฐรครครคยฃร
ย ร iร ร ย ย ย iร ร * ร -ยฐ ยฐร
ย ย ยฐย ย nnร
รคยฐรครคยฃร ร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
ย ร iร ร >ย ร ย ย ย ร iVย ร -ยฐ ยฐร
ย ย ยฐย ย ย ย ร
รคยฐรครครคยฃร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
ย ย ย Lย ย ย >ร ย >ร *ย ย >ร iร ร -ยฐ ยฐร
ย ย ยฐย ย รครคร
รคยฐรคยฃรครคร
ย ย ยฐย ย รครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ย ย ยฐย ย รครค
ย ร iร ร >ย ร ร ร }ร ย Vย ย >ร ย ย ร i>}ร ย ย >ร -ยฐ ยฐร
ย ย ยฐร {nรคร
รคยฐรครครครคร
ย ย ยฐร {nรคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ย ย ยฐร ร xn
* ร *>ยซiย iร ร -ยฐ ยฐร ร
รคยฐยฃรครครคร
ย ย ยฐย รครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
* ร /ย ร ร ร iร -ยฐ ยฐร ร
รคยฐยฃรครครคร
ย ย ยฐย รครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
* ร *ร ย `ร Vร ย ร ร `iร *>ยซiย ร -ยฐ ยฐร
รคยฐยฃรครครคร
ย ย ยฐย รครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
* ร iย ร ย ย ร >ร -ยฐ ยฐร ร
รคยฐรค{nรคร
ย ย ยฐย xร รคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
ย ย ย Lย ย ย >ร ย >ร ร ร ย ร iร ร >ย ร >ย ร iย iร ร -ยฐ ยฐร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร รคยฐรครครครค
ย ร >ร iร ร ,ย Lย iร ย ร ย ร -ยฐ ยฐร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร รคยฐรครครครค
*ร ย ยซ>ร -ยฐ ยฐร
ร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
*ย ร ร ร >ร ย >ร * ร -ยฐ ยฐร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
-ย Vย i`>`ร ,iVร ยซiร >`ย ร >ร `iร *>ยซiย ร -ยฐ ยฐร ร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
ย ยซร iร >ร ย ร ร ร ย Lร ย `ย ร >ร `iร *>ยซiย iร ร ร ร >ร ร ย ย iร ร -ยฐ ยฐร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
ย ร >ร iร ร ย ยซร iร ย ร ร -ยฐ ยฐร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
*ร ย `ร Vร ย ร ร ร ร ร ร >ย ร -ยฐ ยฐร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
>ร ร ร ย ย ย >ร ร * ร -ยฐ ยฐร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
L>ร ร iVย ย ย iย ร ย ร ร * ร -ยฐ ยฐร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
ย ร iร ร ย ย ย iร ร *ร ย ร ย ร >ร -ยฐ ยฐร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
*>ยซiย iร ร ย ร `ย ย ย iร >ร -ยฐ ยฐร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
ย ย iร Vย >ย ร ย }ย iย iร ย ร i}ร >ย ร -ยฐ ยฐร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
ย ย ย iย >ร `iร ย ย `i>`ย ร ร -ยฐ ยฐร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
-iร ร ย Vย ย ร ร ย ร iร ร >ย iร ร ร Vร >`ร ย ย ร ร `>ยฐร
รคยฐรครครครคร
ย ย ยฐย ร ร ย ร
ย ย ยฐย ร ร ย ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ย ย ยฐย ร ร ย
* ร >`iร >ร ร -ยฐ ยฐร ร
รคยฐรครครครคร
ย ร ยฐxยฃร nร
ย ร ยฐxยฃร nร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ย ร ยฐxยฃร n
ย `ร ร ร ร ย >ร ร ย ร iร ร >ย iร ร -ยฐ ยฐร
รคยฐรครครครคร
nยฃยฐย xรครคร
nยฃยฐย xรครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร nยฃยฐย xรครค
ย ร iร ร >ย ร ร iViร ร -ยฐ ยฐร ร
รคยฐรครครครคร
nยฃยฐย xรครคร
nยฃยฐย xรครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร nยฃยฐย xรครค
ย ร iร ร ย ย ย iร ร * ร >ร ย >ย ร ร `ยฐย >ร ย >ย ร ร ย >ย `ร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
* ร ย ร iร ร ย iย ร ร ร ร `ยฐร ย ร ย >ย ย iย ร ร ย >ย `ร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
iร ร ร ย ร ย ร iร ร ย ย ย iร ร -ยฐ ยฐร ย ร -ยซ>ย ย ร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
* ร ย ร iร ร ย ย ย iร ร `iร ร }iย ร ย ย >ร -ยฐ ยฐร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
* ร ร ย >ร ร `ยฐย ร >ยซ>ย ร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
ย ร iร ร >ย ร ย ร ยตร iร ร `iร *ย >ร >ร -ยฐ ยฐร ย ร ร }iย ร ย ย >ร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
>Lย ร ย ย ร >ร ร ย `ร ร ร ร ย >ย iร ร -ยฐ ยฐร ย ร ร }iย ร ย ย >ร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
/ย ร ร ร iร >ร ย >ย ร ร `ยฐย >ร ย >ย ร ร ย >ย `ร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
*ร ย ร ย ร >ร -ยฐ ยฐร ย ร *iร ร ร ร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
*>ยซiย iร >ร `iย ร ,ย ย >Vร -ยฐ ยฐร ย ร *iร ร ร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
ย ย ยซ>ย ย >ร *ร ย ย ร ร ร `iย ร 1ร ร }ร >ร ร -ยฐ ยฐร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
iย ร ย ย ร >ร ร `iย ร 1ร ร }ร >ร ร -ยฐ ยฐร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
>ร Vย iย ร -ยฐ ยฐร ย ร ร }iย ร ย ย >ร
* ร ร ร ย ยซiร ร `ยฐร ย ร 1ย ย ร i`ร ย ย }`ย ย ร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
*ร ย ร ย ร >ร `ย ร ร >ร ย ย ร ร `>ยฐร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
*ร ย ยซ>ร >ร ย >ย ร ร `ยฐย >ร ย >ย ร ร ย >ย `ร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
ย ร ร >Vร *iร ร ร -ยฐ ยฐร
รคยฐรครครครคร
ยฃรครคยฐรครครครคร
ยฃรครคยฐรครครครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ยฃรครคยฐรครครครค
ร
>ร *>ยซiย iร >ร `iย ร *ย >ร >ร -ยฐ ยฐร ย ร ร }iย ร ย ย >ร
รคยฐรครครครคร
ย ย ยฐย ย ย ย ร
ย ย ยฐย ย ย ย ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ย ย ยฐย ย ย ย
ยซร ร >ร ย ร 1ร ร }ร >ร ร
รคยฐรครครครคร
ย ย ยฐร ยฃรครคร
ย ย ยฐร ยฃรครคร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ย ย ยฐร ยฃรครค
รคยฐรครครครคร
ย ร ยฐxร nร ร
ย ร ยฐxร nร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ร ย ร ยฐxร nร
ร
* ร 1- ร ยฐร ย ร 1ย ย ร i`ร -ร >ร iร ร
ร
ร
"/ -Ê/"Ê/ Ê " -" / Ê Ê-/ / / ÌÊ`iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ/À> à >Ì Ê vÊÌ iÊ À } > Ê Ê-«> à ®
"/ ÊÎÊ Ê
"1 / Ê / iÀiÊ>ÀiÊ ÊV > }iÃÊ ÊÌ iÊ>«« V>Ì Ê vÊ}i iÀ> ÞÊ>VVi«Ìi`Ê>VV Õ Ì }Ê«À V « iÃÊ Ê iÊ ÊÀi >Ì ÊÌ ÊÌ iÊ«ÀiÛ ÕÃÊÞi>ÀÊÜ V ÊV Õ `Êà } wV> Ì ÞÊ>vviVÌÊÌ iÊ ÌiÀ«ÀiÌ>Ì Ê vÊÌ iÃiÊw > V > ÊÃÌ>Ìi i Ìð
"/ Ê{Ê Ê , / Ê- 1, / >À iÌ>L iÊ ÃiVÕÀ Ì iÃÊ V ÀÀië `Ê Ì Ê vÕ `ÃÊ V>Ã Ê ÃÕÀ« ÕÃiÃ®Ê ÛiÃÌi`Ê Ê ÃiVÕÀ Ì iÃ]Ê Ü V Ê >ÀiÊ ÕÃi`Ê Ê À > Ê «iÀ>Ì ÃÊ vÊ Ì iÊ «> ÞÊ > `Ê ÃÕLà ` >À iÃÊ >VV À` }Ê Ì Ê ÀiµÕ Ài i Ìð / iÊ «> ÞÊiÝ«iVÌÃÊÌ Ì> Ê ÃÌÀÕ i ÌÃÊÌ ÊLiÊÃiÌÌ i`Ê ÊÌ iÊà ÀÌÊÌiÀ ° / iÊL ÊÛ> ÕiÊ vÊÌ iÃiÊ ÛiÃÌ i ÌÃÊ` iÃÊ ÌÊiÝVii`ÊÌ i ÀÊ >À iÌÊÛ> Õi]Ê>` ÕÃÌ i ÌÃÊLi }ÊÀiV À`i`Ê ÊV>ÃiÊÌ iÊv À iÀÊÜiÀiÊ } iÀÊÌ > ÊÌ iÊ >ÌÌiÀ° ÌÊ iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊÌ ÃÊV>«Ì Ê V Õ`iÃÊÌ iÊv Ü }Ê ÃÌÀÕ i ÌÃ\
iÌ> Ê vÊ >À iÌ>L iÊÃiVÕÀ Ì ià UÊ ÛiÃÌ i ÌÃÊ Ê ÕÌÕ> ÊvÕ `ÊÕ ÌÃ\ Ê
> V > Ê ÃÌ ÌÕÌ Ê
Ê Óää{Ê
/ f ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎ
` Ê ÕÌÕ Ê À« À>Ì Û Ê > V Ê ÃÌ>` Ê ViÊ ` ÃÌÀ>` À>Ê i iÀ> Ê`iÊ ` ÃÊ-° °Ê ÃÌ Ê ` ÃÌÀ>` À>Ê i iÀ> Ê`iÊ ` ÃÊ-° °Ê
à ÀV Ê-° °Ê ` ÃÌÀ>` À>Ê i iÀ> Ê`iÊ ` ÃÊ / Ì> Ê / 1-fÊ
ÇxÎ]£ÎÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÎÇ]ääÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ n]n£È]Èn£ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ È]ÎÇ ]{Óx Ê ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Êx£Î]£{£ Ç ä]£{ÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £x]Çä ]Ó{Ç £]{£nÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Óx]n£ä
UÊ ÛiÃÌ i ÌÃÊ Ê ÛiÃÌ i ÌÊvÕ `ÃÊÕ ÌÃ\ Ê
> V > Ê ÃÌ ÌÕÌ Ê
ÊEÊ Ê iÞÊ >À iÌÊ Õ `Ê` >ÀÃ®Ê *Ê À}> Ê iÞÊ >À iÌÊ Õ `ÊiÕÀ Ã®Ê *Ê À}> Ê iÞÊ >À iÌÊ Õ `Ê` >ÀÃ®Ê / Ì> Ê / 1-fÊ
Ê Óää{Ê
/ f ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎ
ÊÈ]Îx£]xxÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {]£Î{]näÎ Êx]Çx{]nÓ£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÎÎ]ÈÇ£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ê £Ó]£{ä]ä{ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {]£Î{]näÎ Ó£]ÇnäÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ È]Ç {
UÊ *ÕL VÊ"vviÀ }Ê*À Ãà ÀÞÊ ÌiÃÊ> `Ê «> iýÊL `Ã\ Ê
> V > Ê ÃÌ ÌÕÌ Ê
i ÌÀ> Ê > ÊL `ÃÊ«>Þ>L iÊ Ê` >ÀÃÊ 8®Ê
i ÌÀ> Ê > ÊL `ÃÊ Ê` >ÀÃÊ
®Ê
i ÌÀ> Ê > ÊL `ÃÊ Ê i> Ê«ià ÃÊ *®Ê / Ì> Ê / 1-fÊ
Ê Óää{Ê
/ f ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎ
ÓÎ]ÇÓÓ]Ó{ÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Êx] n{]{nÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £n]Î{Î]ÈÈÓ Êx]ÓnÇ]£ÈÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £n]xÓÈ]Ó{n Î{] Î]n ÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÎÈ]nÈ ] £ä ÊÈÓ]ÇnäÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Èä]xÇÇ
UÊ Ài } Ê «> iýÊL `à Ê
> V > Ê ÃÌ ÌÕÌ Ê
Ài } Ê «> iýÊL `ÃÊ "Ì iÀÊ / Ì> Ê / 1-fÊ / Ì> Ê >À iÌ>L iÊÃiVÕÀ Ì iÃÊ/ fÊ / Ì> Ê >À iÌ>L iÊÃiVÕÀ Ì iÃÊ/ 1-fÊ
Ê Óää{Ê
/ f ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎ
ÇÇ]n£Î]x{{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ón]£n{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊΣ]Óxn ÇÇ]n{£]ÇÓnÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î£]Óxn £Î ]Èx£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ x£ £Óx]ÇÈx]n£ÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ xÈ]Ç{x]Ó£n ÊÓÓx]ÈÓ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î]ÓÎÓ
ÌÊ iVi LiÀÊΣ]ÊÓää{ÊÌ iÊ` vviÀi ViÊ Ê >À iÌ>L iÃÊÃiVÕÀ Ì iÃÊ«À ViÊ> Õ ÌÊÌ Ê/ fÊx ]ääÓÊ Ê/ 1-fÊ£]äÇxÊ/ fÊ£]ÓÎÇ]ÈääÊ Ê/ 1-fÊÓ]äÎÎÊ ÊÓääήÊ> `ÊÌ iÊ> ÀÌ âi`ÊÛ> ÕiÊ>ÌÊÞi>ÀÊi `ÊÜ>ÃÊ/ fÊ£]Ó{{]nx{Ê Ê/ 1-fÊÓ]ÓÎÎÊ/ fÊÎ{È]n ÇÊ Ê/ 1-fÊxÇäÊ ÊÓääή°
È
n
>À iÌ>L iÊÃiVÕÀ Ì iÃÊÀiV À`i`ÊÕ `iÀÊ"Ì iÀÊVÕÀÀi ÌÊ>ÃÃiÌÃ ÃÊ ÕÌ i`Ê Ê ÌiÊ ]Ê"Ì iÀÊVÕÀÀi ÌÊ>ÃÃiÌÃÊ V Õ`iÊÌ iÊv Ü }Ê >À iÌ>L iÊÃiVÕÀ Ì iÃ\ Ê
Ê
Ê
Óää{Ê
/ f ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎ
>À iÌ>L iÊÃiVÕÀ Ì iÃÊÕ `iÀÊÀiÃ> iÊ>}Àii i ÌÊ Ê i> Ê*ià ÃÊ
Óx]{Ç ]ä nÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ x]xÎÈ]ÈÎÈ
>À iÌ>L iÊÃiVÕÀ Ì iÃÊÕ `iÀÊÀiÃ> iÊ>}Àii i ÌÊÀi Ê`i >Ìi`ÊÌ Ê` >ÀÊ
£{]Ó{{]£x£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ nÓ]Óxn]{x£
>À iÌ>L iÊÃiVÕÀ Ì iÃÊÕ `iÀÊÀiÃ> iÊ>}Àii i ÌÊÀi `i >Ìi`ÊÌ ÊiÕÀ Ê
x] Σ]Ó£ÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ
>À iÌ>L iÊÃiVÕÀ Ì iÃÊÕ `iÀÊÀi«ÕÀV >ÃiÊ>}Àii i ÌÊ Ê` >ÀÃÊ
Ó]ääx]£ xÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ
>À iÌ>L iÊÃiVÕÀ Ì iÃÊÕ `iÀÊÀiÃ> iÊ>}Àii i ÌÊ Ê` >ÀÃÊ
Ê{£È] xÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ê
/ Ì> Ê
{n]äÇÈ]Èä ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ nÇ]Ç x]änÇ
/ Ì> Ê/ 1-fÊ
nÈ]Óx£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £{{]Ó{Ç
>®Ê VV Õ ÌÊV « Ã Ì Ê ÃÌÀÕ i ÌÃÊ
Ê Ê
Ê
Óää{Ê
ÕÌÕ> ÊvÕ `ÊÕ ÌÃÊ
ÊÛ> Õi / f ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎ
Ç ä]£{ÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £x]Çä ]Ó{Ç
ÛiÃÌ i ÌÊvÕ `ÊÕ ÌÃÊ
£Ó]£{ä]ä{ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {]£Î{]näÎ
*ÕL VÊ vviÀ }Ê«À ÃÃ ÀÞÊ ÌiÃÊ
Î{] Î]n ÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÎÈ]nÈ ] £ä
Ài } Ê «> iýÊL `ÃÊ
ÇÇ]n£Î]x{{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ
"Ì iÀÃÊ
ÊÓn]£n{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊΣ]Óxn
/ Ì> Ê >À iÌ>L iÊÃiVÕÀ Ì iÃÊ
£Óx]ÇÈx]n£ÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ xÈ]Ç{x]Ó£n
/ 1-fÊ
ÓÓx]ÈÓ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î]ÓÎÓ
L®Ê Ýi` V iÊÃiVÕÀ Ì iÃ Ê ÃÌÀÕ i Ìà Ê
>ÌiÊ vÊ
*>ÀÊÛ> ÕiÊ
ÊÛ> ÕiÊ
*ÕÀV >ÃiÊ
>ÌÕÀ ÌÞÊ
/ fÊ
/ fÊ
i ÌÀ> Ê > ÊL `ÃÊ«>Þ>L i Ê` >ÀÃÊ 8®Ê
£äÉ££ÉÓää{Ê
ä£ÉäÈÉÓääxÊ
ÓÎ]xÓÓ]nÓ£Ê
ÓÎ]ÇÓÓ]Ó{ÎÊ
i ÌÀ> Ê > ÊL `ÃÊ Ê i> Ê«ià ÃÊ
äÎÉ££ÉÓääÎÊ
ä£ÉänÉÓääxÊ
x]£Èx]ÇÈ{Ê
x]ÓnÇ]£ÈÇÊ
>À iÌÊÛ> ÕiÊ
*À Û Ã
/ fÊ
/ f
Ó°n£Ê
ÓÎ]ÇÓÓ]Ó{ÎÊ
x ]{È{
ΰn£Ê
x]Îä£]£änÊ
ÌiÀiÃÌÊÀ>ÌiÊ
i ÌÀ> Ê > ÊL `ÃÊ Ê` >ÀÃÊ
£äÉ££ÉÓää{Ê
ä£É£äÉÓääxÊ
x] ä ]£ÈxÊ
x] n{]{nÇÊ
ΰ£Ê
x] n{]{nÇÊ
£Ó]ÓÈ{
Ài } ÊV «> iÃÊL `ÃÊ
ÓäÉ££ÉÓää{Ê
££Éä{ÉÓääxÊ
ÎÈ]äÓÎ]xÇÈÊ
ÎÈ]£ää]ÓnnÊ
Ó°Ó Ê
ÎÈ]£ää]ÓnnÊ
Ài } ÊV À« À>ÌiÊL `ÃÊ
££É££ÉÓää{Ê
ÓÇÉäxÉÓääxÊ
£Î] ÇÎ]änäÊ
£Î] n ]Çn Ê
Ó°{Ê
£Î] n ]Çn Ê
1°-°Êvi`iÀ> Ê} ÛiÀ i ÌÊL `ÃÊ
äÈÉ££ÉÓää{Ê
ä£ÉäÈÉÓääxÊ
£Î]Ç È] nxÊ
£Î]nÎÓ]££ÓÊ
Ó°ÎxÊ
£Î]nÎÓ]££ÓÊ
1°-°Ê/Ài>ÃÕÀÞÊL `ÃÊ
äÇÉ££ÉÓää{Ê
ΣÉäxÉÓääxÊ
Ê£Î]nxn]ÇÇÈÊ
Ê£Î]n £]ÎxxÊ
Ó°£ Ê
£Î]n £]ÎxxÊ
/ Ì> Ê
Ê
Ê
££Ó]Óxä]£ÈÇÊ
££Ó]näÇ]{{£
/ 1-fÊ
Ê
Ê
Óä£]ÎnÓÊ
ÓäÓ]În£
È
"/ -Ê/"Ê/ Ê " -" / Ê Ê-/ / / ÌÊ`iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ/À> à >Ì Ê vÊÌ iÊ À } > Ê Ê-«> à ®
"/ ÊxÊ Ê- ",/ Ê " / , Ê, 6 / iÃiÊL> > ViÃÊ>ÌÊ iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ>ÀiÊ«ÀiÃi Ìi`Ê iÌÊ vÊ«À Û Ã ÃÊ>ÃÊv ÜÃ\ / iÊ«À Û Ã Ê iÌÊ vÊà ÀÌ ÌiÀ ÊÀiVi Û>L iÃÊ> Õ ÌÃÊÌ Ê/ fÊx]£Ó£]{ äÊ Ê/ 1-fÊ ]£nnÊ ÊÓää{Ê/ fÊx]ÈÇ£]äÈ{Ê Ê/ 1-fÊ ]ΣnÊ ÊÓääή° Ê
Ê
Ê
Ê
Óää{Ê
Ê
Ê
Ê
Ê
Ê
/ fÊ
Ê
¯Ê
/ fÊ
ÓääÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ¯
>®Ê /À>`iÊ>VV Õ ÌÃÊÀiVi Û>L i]Ê iÌ\
L®Ê
iÃÌ VÊVÕÃÌ iÀÃÊ
Èx]Çnx] ÎÓÊ
{{° Ê
xn]ÓÓÇ] ΣÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {x°{
Ài } ÊVÕÃÌ iÀÃÊ
Èn]È £]ÓÎnÊ
{È°nÊ
xÇ]Î ä] xnÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {{°n
i ÌÃÊvÀ Êv Ài } ÊÃÕLÃ ` >À iÃÊ
Ê£Ó]£ÓÎ]xÓ{Ê
Ên°ÎÊ
Ê£Ó]xän]{È{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ê °n
/ Ì> Ê
Ê
£{È]Èää]È {Ê
£ää°äÊ
£Ón]£ÓÇ]ÎxÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ää°ä
/ 1-fÊ
Ê
ÓÈÎ]äänÊ
Ê
Ó£ä]x£Ó
ÌiÃÊÀiVi Û>L i]Ê iÌ\
iÃÌ VÊVÕÃÌ iÀÃÊ
£{] nn]ÓÓäÊ
ÎÇ° Ê
££] xÓ]£Ó ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÎÓ°ä
Ài } ÊVÕÃÌ iÀÃÊ
Ó£]{x£]Ó£ Ê
x{°ÎÊ
ÓÓ] äÈ]È ÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ È£°Î
i ÌÃÊvÀ Êv Ài } ÊÃÕLÃ ` >À iÃÊ
ÊÎ]änx]ÇääÊ
ÊÇ°nÊ
ÊÓ]x£x]xnÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÈ°Ç
/ Ì> Ê
Ê
Î ]xÓx]£Î Ê
£ää°äÊ
ÎÇ]ÎÇ{]{ä{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ää°ä
/ 1-fÊ
Ê
Çä] £äÊ
Ê
ÃÕÀ> ViÊV > ÃÊÊ
È]Çä ]£{ÇÊ
ÎÈ°nÊ
`Û> ViÃÊÌ ÊÃÕ«« iÀÃÊ
{]£ Ó]x£ÈÊ
ÓΰäÊ
Ó]£ÈÇ]{ äÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £{°Ç
ÕÀÀi ÌÊ>VV Õ ÌÃÊÜ Ì ÊÌ À`Ê«>ÀÌ iÃÊ
Î]äÈÓ]nnäÊ
£È°nÊ
Ó]Èää] nxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £Ç°Ç
> ÃÊÌ ÊÃÌ>vvÊ Ê
Ó]Ç{n]£ÎäÊ
£x°äÊ
Ó]În ]n{ÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £È°Î
nxÈ]x£ Ê
{°ÇÊ
{]ää£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ä°ä
Èn]£ÇäÊ
ä°{Ê
ÇÇ]ä xÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ä°x
È£]{äÈ
V®Ê -Õ `ÀÞÊ`iLÌ ÀÃ\
iLÌ ÀÃÊ ÊwÝi`Ê>ÃÃiÌÃÊÃ> iÃÊÊ
È]ÈÇ£]ÎxÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {x°{
À>ÜL>V ÃÊ
Ê
"Ì iÀÃÊ
ÊÊ
ÊÈ££] n{Ê
ÊΰÎÊ
ÊÇn ]Îx{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Êx°{
/ Ì> Ê
Ê
£n]Ó{ ]Î{ÈÊ
£ää°äÊ
£{]Çää]£ÓÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ää°ä
/ 1-fÊ
Ê
ÎÓ]Ç{äÊ
Ê
Ó{]£xÓ
`®Ê } ÌiÀ Ê`iLÌ ÀÃ
Ê
,iV ÛiÀ>L iÊÌ>ÝiÃÊ Ê À}i Ì >ÊÞÊ*iÀÕÊ£®ÊÊ
Ó]£{Î]{xxÊ
xä°{Ê
iLÌ ÀÃÊ ÊwÝi`Ê>ÃÃiÌÃÊÃ> iÃÊ
£]nÎ{]ÓxÇÊ
{ΰ£Ê
£] { ]ÓäÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ n{°{ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ä°ä
"Ì iÀÃÊ
Ê
ÊÓÇ{]ÈÈxÊ
ÊÈ°xÊ
ÊÎÈ£]ÓÓ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ê£x°È
/ Ì> Ê
Ê
{]ÓxÓ]ÎÇÇÊ
£ää°äÊ
Ó]Σä]{ΣÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ää°ä
/ 1-fÊ
Ê
Ç]ÈÓ Ê
Ê
Î]Ç È
£®Ê Õ ÌÊ V Õ`i`ÊÕ `iÀÊÌ iÊV>«Ì Ê"Ì iÀÊÀiVi Û>L iÃÊ Ê }ÊÌiÀ ÊÃiiÊ iÝÌÊÌ>L i®°
Ê Ê >ÌÕÀ Ì iÃÊ Ê
Ê Ê >ÌÕÀ ÌÞÊÕ«ÊÌ Ê äÊ`>ÞÃÊ / fÊ Óää{Ê
/À>`iÊ>VV Õ ÌÃÊÀiVi Û>L iÊ Ü> ViÊv ÀÊ` ÕLÌvÕ Ê>VV Õ ÌÃÊ ÌiÃÊÀiVi Û>L iÊ Ü> ViÊv ÀÊ` ÕLÌvÕ Ê>VV Õ ÌÃÊ -Õ `ÀÞÊ`iLÌ ÀÃÊ
>ÌÕÀ ÌÞÊ äÊ`>ÞÃÊÊ Õ«ÊÌ Ê iÊÞi>ÀÊ / fÊ
ÓääÎÊ
Óää{Ê
Ê -ÕLÌ Ì> Ê / fÊ
ÓääÎÊ
Ê / Ì> Êà ÀÌ ÌiÀ Ê iÌ®Ê / fÊ
Óää{Ê
Óää{Ê
/ Ì> Ê } ÌiÀ Ê iÌ® / fÊ
ÓääÎÊ
Óää{Ê
£ÎÇ]ä n]ÇäÎÊ ££ä]Èxä] ÓnÊ £Î] Ç] ÈnÊ £Ç]{ÇÈ]{ÓxÊ £x£]ä È]ÈÇ£Ê £{È]Èää]È {Ê £Ón]£ÓÇ]ÎxÎÊ Ê
Ê
Ê
Σ]£Î£]Ç£äÊ ÎÓ]£ÓÈ]xäÇÊ
n] Ç ]ÎÇäÊ
Ê
Ê
Ê
£Î] £ ]Óx{Ê ££]Ç{{]{ÎxÊ
{]ÎÈ ]ÈÈ{Ê
Ê {]{ x] ÇÇ®Ê
Ê
Ê
Ê
x]Ó{Ç]n ÇÊ {ä]£££]änäÊ Î ]xÓx]£Î Ê ÎÇ]ÎÇ{]{ä{Ê
Ê
Ê
Ê
Ó] xx]È ÓÊ £n]Ónn] £nÊ £n]Ó{ ]Î{ÈÊ £{]Çää]£ÓÇÊ
{]ÓxÓ]ÎÇÇÊ
Ó]Σä]{Σ
Ê
xnx] {£®Ê
Ê
ÓääÎ
Ê
Ü> ViÊv ÀÊ` ÕLÌvÕ Ê>VV Õ ÌÃÊ
Ê
Ê
Ê
Ê
Î ]xÇÓ®Ê
Ê
Ê
Ê Ê
Ê
/ Ì> Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
{]ÓxÓ]ÎÇÇÊ
Ó]Σä]{Σ
/ 1-fÊ
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ç]ÈÓ Ê
Î]Ç È
Ç
ä
"/ ÊÈÊ Ê -Ê Ê/, - / " -Ê7 / Ê, / Ê " * > > ViÃÊ> `ÊÌÀ> Ã>VÌ ÃÊÜ Ì ÊÀi >Ìi`ÊV «> iÃÊ>ÀiÊ À } >Ìi`ÊLÞÊV iÀV > Ê «iÀ>Ì ÃÊÀi >Ìi`ÊÌ ÊÌ iÊ «> Þ½ÃÊLÕà iÃÃÊV>ÀÀ i`Ê>ÌÊ >À iÌÊÛ> Õi° /À> Ã>VÌ ÃÊÜ Ì ÊV «> iÃÊ ÊÜ V ÊÌ iÊ «> ÞÊ >ÃÊ ÀiVÌ ÀÃÊ> `É ÀÊ>ÊV ÌÀ iÀÊ ÊV ÊÌÀ> Ã>VÌ Ê> > Þà îÊV ÀÀië `ÊÌ ÊLÕà iÃÃÊ «iÀ>Ì ÃÊÜ V Ê>ÀiÊ> à ÊV>ÀÀ i`Ê >ÌÊ >À iÌÊÛ> Õið /À> Ã>VÌ ÃÊÜ Ì Ê «iVÊ-° °ÊvÕi ®]Ê LÖ Ê-° °Ê> `Ê i Õi V Ê-° °Êi iVÌÀ VÊ« ÜiÀ®Ê>ÀiÊÕ `iÀÊV ÌÀ>VÌÃÊ`i >Ìi`Ê Ê1-Ê` >ÀðÊ/ iÊÀi > }ÊÌÀ> Ã>VÌ ÃÊ>ÀiÊV>ÀÀ i`Ê Ê `iÝi`Ê i> Ê«ià ð ÕÞ }Ê> `ÊÃi }ÊÌÀ> Ã>VÌ ÃÊ vÊÌ LiÀÊLiÌÜii ÊÌ iÊ «> Þ½ÃÊÃÕLà ` >À iÃÊ> `ÊÌ iÊV «> iÃÊ ÃµÕiÃÊ À>ÕV Ê-° °Ê> `Ê ÀiÃÌ> Ê i V Ê-° °Ê>Ài]Ê Ê}i iÀ> ]Ê vvÃiÌÊLÕÞ }Ê > `ÊÃi }Ê «iÀ>Ì Ã° VV À` }Ê Ì Ê Ì iÊ v ÀiÃÌÊ À>Ì > â>Ì Ê «À iVÌÊ >««À Ûi`Ê LÞÊ Ì iÊ «> Þ½ÃÊ >À`Ê vÊ ÀiVÌ ÀÃ]Ê «iÀ>Ì ÃÊ vÊ «ÕÀV >Ãi]Ê Ãi }Ê > `Ê L>ÀÌiÀÊ vÊ v ÀiÃÌÊ «À «iÀÌ iÃÊ ÜiÀiÊ «iÀv À i`Ê`ÕÀ }Ê >ÞÊÓää{ÊÜ Ì ÊÃÕLà ` >À iÃÊ vÊ i Õ Ã>Ê À>ÕV ÊÞÊ ÃÌ ÌÕV Ê-° °]ÊÜ V Ê>ÀiÊ`iÌ> i`ÊLi Ü°Ê/ À Õ} ÊÌ ÃÊÌÀ> Ã>VÌ ÊÌ iÊv ÀiÃÌÊÃÕLà ` >À iÃÊ vÊ «ÀiÃ>ÃÊ
* Ê-° °]Êà `Ê> `É ÀÊiÝV > }i`]ÊÓÈÊÌ ÕÃ> `Êv ÀiÃÌÊ iVÌ>ÀiÃ]Ê>««À Ý >Ìi ÞÊÌ ÊÃÕLà ` >À iÃÊ vÊ i V Ê À>ÕV ]Ê ÕÀÌ iÀ]Ê i V Ê À>ÕV Ê«> `ÊÌ iÊ> Õ ÌÊ vÊ1-fÊxxÊ Ê Ì ÊÃÕV ÊÃÕLà ` >À iÃÊ vÊ «ÀiÃ>ÃÊ * Ê-° ° / ÃÊÌÀ> Ã>VÌ Ê}i iÀ>Ìi`Ê>ÊV à `>Ìi`Ê«À wÌÊ vÊ/ fÊÇ]ÇÇ£]xÈnÊ Ê/ 1-fÊ£Î] {ÎÊv ÀÊ «ÀiÃ>ÃÊ * Ê-° ° / iÊV « Ã Ì Ê vÊÀi >Ìi` V «> ÞÊ>VV Õ ÌÃÊÀiVi Û>L iÊ> `Ê«>Þ>L iÊ ÃÊ>ÃÊv ÜÃ\Ê >®Ê ÌiÃÊ> `Ê>VV Õ ÌÃÊÀiVi Û>L i] Ê Ê
Ê Ê
- ÀÌ ÌiÀ / f
«> Þ Ê
Óää{Ê
ÃiÀÀ>`iÀ ÃÊ À>ÕV Ê-° °Ê
ÎÇÎ]ÈxnÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎ
õÕiÃÊ À>ÕV Ê-° °Ê
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ££ä]äxÓ
*ÕiÀÌ Ê ÀµÕi Ê-° °Ê
Ê ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÓä]Î £
/ Ì> Ê
ÎÇÎ]ÈxnÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £Îä]{{Î
/ 1-fÊ
ÈÇ£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó£{
L®Ê ÌiÃÊ> `Ê>VV Õ ÌÃÊ«>Þ>L i Ê Ê
«> Þ Ê
ÃiÀÀ>`iÀ ÃÊ À>ÕV Ê-° °Ê
Ê Ê
- ÀÌ ÌiÀ / f
Óää{Ê
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎ
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]{£ä]nÎ
ÌÀ >` À>Ê`iÊ* >}>ÃÊ ÀiÃÌ> iÃÊ-° °Ê
ÊÈ ]ÓÇ£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ê{Î] Ó
/ Ì> Ê
È ]ÓÇ£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]{x{]ÇÈn
/ 1-fÊ
£Ó{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]Î ä
Ç
£
Ç
Ó
ÀiVÌ ÀÊ ÊV Ê
ÌÀ iÀÊ ÊV Ê
ÌÀ iÀÊ ÊV Ê
ÌÀ iÀÊ ÊV Ê
ÌÀ iÀÊ ÊV Ê
ÌÀ iÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê vw >ÌiÊ
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
ÀiVÌ ÀÊ ÊV Ê
È°ÈÎ °Ónä äÊ Ç°änä°äää Ê Ê Ê Ê Ê Ç°äxΰäää ÓÊ Ç °xÎÓ° ä äÊ Ê Ê
È°x£{°{£ä ÓÊ nÓ°£xÓ°Çää ÇÊ Ê Ê Ê Ê Ê Î°{xn°äää £Ê È°xÇΰÇnä {Ê È°xäx°ÇÈä Ê È°xxÇ°ÎÎä xÊ ä°Óä °äää ÓÊ È°ÈxÇ° ää xÊ È°nÓ °Ènä Ê È°nÇÇ°Óää ÇÊ ä°È ä°äää Ê Ê nx°näx°Óää Ê Ê Ê Ê Ê Î°nÎn°äää ÇÊ Ê È°xÈÇ° {ä xÊ £°ÎÎx°äää ÈÊ Ê È°ÇÓÓ°{Èä Ê È°x£ä° Çä ÈÊ nÓ°ÇÇÇ°£ää ÇÊ Ê È°nn{° Îä £Ê È°xÈ °ÇÈä nÊ nÈ]££Î]äää ÓÊ Çn]äÓÎ]äÎä {Ê
ÃiÀÀ>`iÀ ÃÊ À>ÕV Ê-° °Ê ` ÃÌÀ>` À>Ê`iÊ ` ÃÊ ÕÌÕ Ã - 1, /9Ê-° °Ê "Ê Ê Ê Ê Ê Ê > V Ê-iVÕÀ ÌÞÊÊ Ê ÀÀi` ÀiÃÊ`iÊ Ã>Ê-° °Ê Ê Ê Ê ` ÃÌÀ>` À>Ê i iÀ> `iÊ ` ÃÊ-° °Ê õÕiÃÊ À>ÕV Ê-° °Ê Ê Ê Ê Ê Ê
i Õ Ã>Ê À>ÕV ÊÞÊ ÃÃÌ ÌÕV Ê-° °Ê
iÀ> V>ÃÊ À` iÀ>Ê-° °Ê
LÖ Ê-° °Ê
«> >Ê jVÌÀ V>Ê`i Ê, Ê > « Ê-° °Ê
«> >Ê `ÕÃÌÀ > Ê Ê6 V? Ê-° °Ê
ÌÀ >` À>Ê`iÊ* >}>ÃÊ ÀiÃÌ> iÃÊ-° °Ê
ÃÌÀ LÕ ` À>Ê"w >À iÌÊ-° °Ê «ÀiÃ>Ê jVÌÀ V>Ê i Õi V Ê-° °Ê
"* Ê-° °Ê Ê ÀiÃÌ> Ê i V Ê-° °Ê Ê Ê Ê Ê ÀiÃÌ> Ê }Õ> Ê-° °Ê Ê ÀiÃÌ> Ê6> ` Û >Ê-° °Ê `ÕÃÌÀ >ÊÞÊ iÀV Ê-° °Ê Ê /," -Ê-° °Ê *> i iÃÊ À>ÕV Ê-° °Ê *ÕiÀÌ Ê ÀµÕi Ê-° °Ê Ê ,i Ì>Ê1ÀL> >Ê-° °Ê - V i`>`Ê `ÕÃÌÀ > Ê* â>ÀÀi Ê-° °Ê - V i`>`Ê `ÕÃÌÀ > Ê, iÀ> Ê-° °Ê - vÀÕV Ê i Ì ÃÊ-° °Ê
Ê
ÀiVÌ ÀÊ ÊV ÊÊ
Ê
È°xÈx°Çxä Ê
Ê
Ê Ê ,i >Ì Ê
Ê Ê />ÝÊ Õ LiÀÊ
Ê Ê
«> ÞÊ
L®Ê /À> Ã>VÌ Ã
/ fÊ
/ 1-fÊ
Ê /À> Ã>VÌ Ê > Õ ÌÊ
Óää{Ê
/ fÊ
/ 1-fÊ
vviVÌÊ ÊÀiÃÕ ÌÃÊ iÝ«i Ãi® V iÊ / fÊ
/ 1-fÊ
Ê /À> Ã>VÌ Ê > Õ ÌÊ
ÓääÎ
/ fÊ
/ 1-f
vviVÌÊ ÊÀiÃÕ Ìà iÝ«i Ãi® V i
ÛiÃÌ i ÌÊ Ê ÕÌÕ> ÊvÕ `à ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {ÈÎ]{xÓ]{ÓÓ ÊÊÊÊÊÊÊÊÊÊnΣ]{x{ ÊÊÊÊÊÊÊÊÊ £xÇ]£Ó{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓnÓ ÊÊÊ £Î{]Îxn]ÈxÓ ÊÊÊÊÊÊÊÊÊ ÓÓä]ÇxäÊÊÊÊÊÊÊÊÊÊÊÊ {ä]xxÈ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÈÇ >À ÊLÕÞ }Ê ÊL>ÀÌiÀÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó] xÈ]ÇäÓ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊx]Îä{ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ / LiÀÊLÕÞ } ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ÇÓ]Ó x ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÎä ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊ { ]Ó{ä ÊÊÊÊÊÊÊÊÊÊÊÊÊ £]xÈäÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ -iÀÛ ViÃÊÀi `iÀi` ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î{] { ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÈÎ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÎn]£Çn ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÈÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ >À ÊÃi }ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓÈ]xÎn]ÓäÎ ÊÊÊÊÊÊÊÊÊÊÊÊ{Ç]È££ ÊÊÊÊÊÊÊÈ]ÇnÓ]{äÎÊÊÊÊÊÊÊÊÊÊÊÊ £Ó]£Èn ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ >À ÊÃi } ÊL>ÀÌiÀÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î]äÈÇ]ÇäÈ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊx]xä{ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ / LiÀÊÃi }ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £Çä]Ó{x ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÎäx ÊÊÊÊÊÊÊÊÊÊÊÊÊ £]£x{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó ÊÊÊÊÊÊÊ£]ÈÎÎ]{xÓ ÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]Èn{ÊÊÊÊÊÊÊÊÊÊ £xÇ]{{n ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓx >ÌiÀ > ÊLÕÞ } ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ä]ÇÎÎ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ£ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊ{È]ÇÓÓ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÇÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ *À `ÕVÌÃÊÃi } ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ££È]nÈ£ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓ£ä ÊÊÊÊÊÊÊÊÊÊÊ Îä]ÓÎnÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ x{ ÊÊÊÊÊÊÊÊÊÊÊÊx ]Ó£x ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÇÊÊÊÊÊÊÊÊÊÊÊÊ ÓÓ]äÇ{ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÎÈ iVÌÀ VÊ« ÜiÀÊLÕÞ } ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ È] n]Ó n ÊÊÊÊÊÊÊÊÊÊÊÊ£Ó]xxx ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÈ]n£Î]n n ÊÊÊÊÊÊÊÊÊÊÊ ££]£ xÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ iVÌÀ VÊ« ÜiÀÊLÕÞ } ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]{ÈÇ] £{ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓ]ÈÎ{ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊ£]{Îä]£äÈ ÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]ÎxäÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ *À `ÕVÌÊÃi }ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]ÎÎÓ]ÈÈÇ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊ{]£nx ÊÊÊÊÊÊÊ£]£ Ç]xÇäÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]£{n ÊÊÊÊÊÊÊ£]Ó ä]xäÎ ÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]£ÓäÊÊÊÊÊÊÊÊÊÊ xxÎ]ÇÓ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ä -iÀÛ ViÊLÕÞ } ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ £]ä{Ç ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÎ{Î ÊÊÊÊÊÊÊÊ £ £]ä{Ç®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î{ή ÊÊÊÊÊÊÊÊÊÓÓx]È{{ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÎÇ£ÊÊÊÊÊÊÊÊÊ ÓÓx]È{{® ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÎÇ£® *À `ÕVÌÊÃi }ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÎÓ ]ÇÇä ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊx Ó ÊÊÊÊÊÊÊÊÊ ÓÎ{]ÓÇ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {Óä ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ iVÌÀ VÊ« ÜiÀÊLÕÞ } ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ç]ääÇ]ÓÇn ÊÊÊÊÊÊÊÊÊÊÊÊ£Ó]xÇ£ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÈ]ÎΣ]ÎxÈ ÊÊÊÊÊÊÊÊÊÊÊ £ä]{äÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Õi ÊLÕÞ } ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ]£ää]ÎÈÈ ÊÊÊÊÊÊÊÊÊÊÊÊ£È]ÎÓÈ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊn]{È ]È £ ÊÊÊÊÊÊÊÊÊÊÊ £Î] £ÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ *À `ÕVÌÊÃi }ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊ £]È { ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £x£ÊÊÊÊÊÊÊÊÊÊÊÊ ÈÎ]£xä ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ£ä{ >À ÊLÕÞ }Ê ÊL>ÀÌiÀÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]Îxn]È£n ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓ]{ÎÇ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ -iÀÛ ViÃÊÀi `iÀi` ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓÓ]xÓx ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ{ä ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÈ£]ä n ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ääÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ -iÀÛ ViÃÊÀiVi Ûi`ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÎÓ] äx ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊx ÊÊÊÊÊÊÊÊÊÊ ÎÓ] äx®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ x ® ÊÊÊÊÊÊÊÊÊ£Ç{]ä{x ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓnÈÊÊÊÊÊÊÊÊÊ £Ç{]ä{x® ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓnÈ >À ÊÃi }ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]ÇÈ ]£n ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÎ]£Ç{ ÊÊÊÊÊÊÊÊÊ ££{]Ó {ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Óäx ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ >À ÊÃi } ÊL>ÀÌiÀÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]ÎÓä]ÇÓÈ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓ]ÎÈ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ >À ÊLÕÞ }Ê ÊL>ÀÌiÀÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]äÓÓ]Ó £ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊ£]nÎ{ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ >À ÊÃi }Ê ÊL>ÀÌiÀÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {Ç]{ÎÇ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊ£]Çää ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ >À ÊÃi }ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ç]änn]Çx ÊÊÊÊÊÊÊÊÊÊÊÊ£Ó]Ç£n ÊÊÊÊÊÊÊÊÊ nÇ{]nÇäÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]xÇä ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ *À `ÕVÌÊLÕÞ } ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ nnÎ]{nä ÊÊÊÊÊÊÊÊÊÊÊÊÊÊ£]xnx ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊ ]Ç{ä ÊÊÊÊÊÊÊÊÊÊÊÊÊ £]È{ÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ *À `ÕVÌÊÃi }ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ÇÈ]Î£Ó ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÎ£È ÊÊÊÊÊÊÊÊÊ £än]{ÎnÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ x ÊÊÊÊÊÊÊÊÊÊ£ {]Ènx ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÎÓäÊÊÊÊÊÊÊÊÊÊ £Ó£]nÇä ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓää >ÌÕÀ> Ê}>ÃÊLÕÞ } ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ x] n ]£{ ÊÊÊÊÊÊÊÊÊÊÊÊ£ä]Ç{x ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÈ]xÇÈ]Óä ÊÊÊÊÊÊÊÊÊÊÊ £ä]näxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ *À `ÕVÌÊÃi }ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £Î£]xÈä ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓÎÈ ÊÊÊÊÊÊÊÊÊÊÊ {n]ÈÈÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ nÇ ÊÊÊÊÊÊÊÊÊÊ£äÎ]näÎ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £Ç£ÊÊÊÊÊÊÊÊÊÊÊÊ xä]ÓÈÎ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊnÎ -iÀÛ ViÊLÕÞ } ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]Ón{]{{{ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊ{]ä n ÊÊÊÊÊÊÓ]Ón{]{{{®ÊÊÊÊÊÊÊÊÊÊÊÊ {]ä n® ÊÊÊÊÊÊÓ]Ó ]Ç Ó ÊÊÊÊÊÊÊÊÊÊÊÊÊ Î]ÇÇ ÊÊÊÊÊÊ Ó]Ó ]Ç Ó® ÊÊÊÊÊÊÊÊÊÊÊÊÎ]ÇÇ ® *À `]Ê-i }Ê> `Ê-iÀÛ]ÊÀi `iÀi`ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ xÇ]ä{Î ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ£äÓ ÊÊÊÊÊÊÊÊÊÊÊ £ä]Ó£ÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £n ÊÊÊÊÊÊÊÊÊÊÊÊ£n]£x{ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÎäÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ -iÀÛ ViÃÊÀiVi Ûi`ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î{]È n ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÈÓ ÊÊÊÊÊÊÊÊÊÊ Î{]È n®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÈÓ® ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ *À `ÕVÌÊÃi }ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]ÓÓ£]Ç { ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓ]£ Ó ÊÊÊÊÊÊÊÊÊ Çnx]Î ÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]{ä ÊÊÊÊÊÊÊ£]£än]ÇÎx ÊÊÊÊÊÊÊÊÊÊÊÊÊ £]nÓÓÊÊÊÊÊÊÊÊÊÊ Ç£È]äÎÈ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊ£]£ÇÈ *À `ÕVÌÊÃi }ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]{nx]££n ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓ]ÈÈ{ ÊÊÊÊÊÊÊÊÊ Ç{x]nÎxÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]ÎÎn ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ *À `ÕVÌÊÃi }ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó{Ó]Ç ä ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ{ÎÈ ÊÊÊÊÊÊÊÊÊÊÊ nÎ]{xÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £xä ÊÊÊÊÊÊÊÊÊÊ£ÇÎ]Î x ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓnxÊÊÊÊÊÊÊÊÊÊÊÊ nÓ]xn£ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ£ÎÈ
ÛiÃÌ i ÌÊ Ê ÕÌÕ> ÊvÕ `à ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ În]xxÓ]xÓx ÊÊÊÊÊÊÊÊÊÊÊÊÈ ]£Èx ÊÊÊÊÊÊÊÊÊÊÊ £x]Ó ÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓÇ ÊÊÊÊÊÓn]£xä]äxÇ ÊÊÊÊÊÊÊÊÊÊÊ {È]ÓxäÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î]xÈÎ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÈ
>ÀÊLÕÞ }ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]££ä]Ónn ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÎ]ÇnÈ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ "«iÀ>Ì ÃÊÕ `iÀÊÃ> iÊ>}Àii i Ì ÊÊÊÊÊÊÊÊÊÊÊÊÊÊ n]nÈ{]È{Î ÊÊÊÊÊÊÊÊÊÊÊÊ£x] ä{ ÊÊÊÊÊÊÊÊÊÊÊ £x] xÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó ÊÊÊÊÊÈÇ]ÈnÇ]£È£ ÊÊÊÊÊÊÊÊÊ £££]Ó£äÊÊÊÊÊÊÊÊÊÊ £ÇÓ]Èä£ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓn{ ÀÜ>À`Ê «iÀ>Ì ÃÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £x]{È ]ÇÓn ÊÊÊÊÊÊÊÊÊÊÊÊÓÇ]ÇxÎ ÊÊÊÊÊÊÊÊÊÊ ÎÇ]ÓÇ£®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÈÇ® ÊÊÊÊ{ ]n Î]x{x ÊÊÊÊÊÊÊÊÊÊÊ n£] ÇxÊÊÊÊÊÊÊÊÊÊÊÊ ÓÓ]Èxä ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÎÇ > V > Ê ÛiÃÌ i Ì ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó£]ΣÓ]nÓÈ ÊÊÊÊÊÊÊÊÊÊÊÊÎn]ÓÎÈ ÊÊÊÊÊÊÊÊÊÊÊ È]ÈÓ£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ÇÎ ÊÊÊÊÊÎ{]£Ó{]ÇxÇ ÊÊÊÊÊÊÊÊÊÊÊ xÈ]äÈÇÊÊÊÊÊÊÊÊÊÊ Ónn]ä £ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ{ÇÎ
>ÀÊÃi } ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÎÓ] Σ]ÇÎÎ ÊÊÊÊÊÊÊÊÊÊÊÊx ]än£ ÊÊÊÊÊÊÊÊÊÊÊ {n]x£ÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ nÇ ÊÊÊÊÊÓn]äÓn]x{ ÊÊÊÊÊÊÊÊÊÊÊ {È]äx£ÊÊÊÊÊÊÊÊÊÊÊÊ xÎ]nÇ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊn > V > Ê ÛiÃÌ i Ì ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î]nxx]ÎnÇ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÈ] £Ç ÊÊÊÊÊÊÊÊÊÊÊ { ]££nÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ nn ÊÊÊÊÊ£{]ää{]xäÇ ÊÊÊÊÊÊÊÊÊÊÊ ÓÎ]ää ÊÊÊÊÊÊÊÊÊÊÊÊ Çn]ÈÓä ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ£Ó
>ÀÊÃi } ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ În]Ç {]ÎÓ ÊÊÊÊÊÊÊÊÊÊÊÊÈ ]x ÊÊÊÊÊÊÊÊÊ ££ ]£ÓÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó£{ ÊÊÊÊÊÈä]ÈÇÓ]äx{ ÊÊÊÊÊÊÊÊÊÊÊ ]Èn{ÊÊÊÊÊÊÊÊÊÊ ££ ]£ä£ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ£ È "«iÀ>Ì ÃÊÕ `iÀÊÃ> iÊ>}Àii i Ì ÊÊÊÊÊÊÊÊÊÊÊÊ Î ]n È] Ó ÊÊÊÊÊÊÊÊÊÊÊÊÇ£]xÇÇ ÊÊÊÊÊÊÊÊÊÊÊ ÇÎ]n{£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ÎÓ ÊÊÊÊÊÓ£]{ä£] x ÊÊÊÊÊÊÊÊÊÊÊ Îx]£ÈÎÊÊÊÊÊÊÊÊÊÊÊÊ Ó ]ÓÈ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ{n ÀÜ>À`Ê «iÀ>Ì ÃÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÇ]Ó{Î]xÈä ÊÊÊÊÊÊÊÊÊÊÊ ££] ä£ÊÊÊÊÊÊÊÊÊÊÊÊ £x]nÇx ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓÈ
iVÌ Ê «iÀ>Ì ÃÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £x]ÓÈÎ]ÓxÎ ÊÊÊÊÊÊÊÊÊÊÊÊÓÇ]ÎnÎ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊ£Î]È£Ç] £Ó ÊÊÊÊÊÊÊÊÊÊÊ ÓÓ]ÎÇ{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ
Ê
Ê Ê
iÃVÀ «Ì Ê
ÌÊ`iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ/À> à >Ì Ê vÊÌ iÊ À } > Ê Ê-«> à ®
"/ -Ê/"Ê/ Ê " -" / Ê Ê-/ / /-
"/ ÊÇÊ Ê 6 /", Ûi Ì À iÃÊ V Õ`iÊÌ iÊv Ü }ÊL> > ViÃ\ Ê
Ê
Ê
Óää{Ê
à i`Ê«À `ÕVÌÃÊ
/ f ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎ
x£]È £]x xÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ { ]ÈÎÇ]{xÓ
*À `ÕVÌÃÊ Ê«À ViÃÃÊ
x] {Ó]È ÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î]ÎÇÇ]£Ó
,>ÜÊ >ÌiÀ > ÃÊ> `Ê Ì iÀÃÊÊ
{ ]änn]x£ÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {ä]ÇÓx] Çn
-Õ«« iÃÊ
xÎ]nÇ{]ÈnÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ xÎ]ÈÇ£] xn
/ LiÀÊ
£]{n£]ä ÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]n x]£Î
ÀiÃÌÀÞÊ« > Ì>Ì ÃÊ
Èä]Ónn]xn ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ xÈ]ÇÈ{]{äÈ
}À VÕ ÌÕÀ> Ê> `Ê Ì iÀÊ«À `ÕVÌÃÊ
ÊÎ]£xÎ]ÓÓÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÓ]ÇÈÎ]{ää
/ Ì> Ê
ÓÓx]xÓä]Î nÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Óän]nÎx]{ÈÓ
/ 1-fÊ
{ä{]x ÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î{Î]££È
/ iÊ «> ÞÊiÃÌ >ÌiÃÊÌ >ÌÊÌ iÃiÊ Ûi Ì À iÃÊÜ ÊLiÊà `Ê> `É ÀÊV ÃÕ i`Ê ÊÌ iÊ À > ÊV ÕÀÃiÊ vÊ «iÀ>Ì Ã° / iÊ Ìi Ê ÀiÃÌÀÞÊ« > Ì>Ì ÃÊ V Õ`iÃÊiÃÌ >Ìi`Ê« > Ì>Ì ÃÊÌ >ÌÊÜ ÊLiÊiÝ« Ìi`Ê`ÕÀ }ÊÌ iÊÞi>À° Ê«À Û Ã Ê >ÃÊLii ÊÃiÌÊÕ«ÊÌ ÊV ÛiÀÊÌ iÊ i `Ê vÊ Là iÃVi ViÊ vÊÀ>ÜÊ >ÌiÀ > Ã]ÊÃÕ«« iÃÊ> `Êë>ÀiÊ«>ÀÌÃÊ> Õ Ì }ÊÌ Ê/ fÊ{]£äÇ]ÎÓÇÊ Ê/ 1-fÊÇ]ÎÈ Ê>ÌÊ iVi LiÀÊ Î£]ÊÓää{Ê/ fÊ{]xÎÎ]ÓnÈÊ Ê/ 1-fÊÇ]{{nÊ>ÌÊ iVi LiÀÊΣ]ÊÓääή]ÊÜ V Ê ÃÊÃ Ü Ê iÌÊ vÊÌ iÊÀiëiVÌ ÛiÊ Ûi Ì ÀÞÊ>VV Õ Ìð
"/ ÊnÊ Ê " Ê/ 8 -Ê Ê ,, Ê/ 8 >®Ê V iÊÌ>ÝÊ«À Û Ã Ã Ê
ÌÊ iVi LiÀÊΣ]ÊÓää{]ÊÌ iÊV à `>Ìi`Ê V iÊÌ>ÝÊ«À Û Ã Ê> Õ ÌÃÊÌ Ê/ fÊÓÓ]Σä]ä{ÇÊ Ê/ 1-fÊ{ä]äÓx]ÊÜ V Ê ÃÊÃ Ü ÊÜ Ì ÊÀiV ÛiÀ>L iÊÌ>ÝiÃÊ ÊVÕÀÀi ÌÊ>ÃÃiÌÃ]Ê ViÊ Ì iÊ«Ài«> `Ê V iÊÌ>ÝiÃ]ÊVÀi` ÌÊ ÊÌÀ> }ÊiÝ«i ÃiÃÊ> `Ê Ì iÀÃÊVÀi` ÌÃÊ ÊÌ Ì> Ê> Õ ÌÊ vÊ/ fÊÓ{]ÎÎä]ÈÈ£Ê Ê/ 1-fÊ{Î]ÈxäÊ >ÛiÊLii Ê`i`ÕVÌi`°Ê/ iÊiÝVi`i ÌÃÊv ÀÊ«Ài«> `Ê V iÊÌ>ÝiÃÊ> `Ê Ì iÀÃÊÌ>ÝÊVÀi` ÌÃÊ Êv>Û ÀÊ vÊ «> Þ]Ê> `ÊÃÕLà ` >À iÃÊ> Õ ÌÊÌ Ê/ fÊÓ]äÓä]È£{Ê Ê/ 1-fÊÎ]ÈÓx]Ê Ì½ÃÊÃ Ü }ÊÕ `iÀÊÀiV ÛiÀ>L iÊÌ>ÝiÃÊ ÊVÕÀÀi ÌÃÊ>ÃÃiÌð
Ê
,iV ÛiÀ>L iÊÌ>ÝiÃÊÕ `iÀÊ ÕÀÀi ÌÊ>ÃÃiÌÃÊ V Õ`iÃÊÌ iÊÀi > `iÀÊ vÊ6> ÕiÊ ``i`Ê/>ÝÊ6 /®Êv ÃV> ÊVÀi` ÌÊ Êv>Û ÀÊ vÊÌ iÊ «> ÞÊ Ê iÊ> `Ê À}i Ì >]Ê> Õ Ì }ÊÌ Ê / fÊ£{]{{n] xÎÊ Ê/ 1-fÊÓx] ÓÓÊ/ fÊ££]xxÓ]ÈnÎÊ Ê/ 1-fÊ£n] n£Ê>ÌÊ iVi LiÀÊΣ]ÊÓääή]Ê>ÃÊÜi Ê>ÃÊÌ iÊL> > ViÊ vÊÀiV ÛiÀ>L iÊÌ>ÝÊV ÀÀië ` }ÊÌ Ê«À v ÌÃÊ Ü ÌÊ V iÊÌ>ÝÊ«> `Ê> `Ê>Là ÀLi`ÊLÞÊÌ>ÝÊ ÃÃiÃÊ vÊ/ fÊ ]È n] Ó Ê Ê/ 1-fÊ£Ç]{ääÊ/ fÊ ]näÓ]Σ Ê Ê/ 1-fÊ£È]£äxÊ>ÌÊ iVi LiÀÊΣ]ÊÓääή]Ê> `Ê Ì iÀÊÌ>ÝiÃÊ Ê ÀiV ÛiÀÊ«À ViÃÃÊ vÊ/ fÊ£]£ ]nxÓÊ Ê/ 1-fÊÓ]£xÎÊ/ fÊ£]ÓÓä]£ÎxÊ Ê/ 1-fÊÓ]ääxÊ>ÌÊ iVi LiÀÊΣ]ÊÓääή°
Ê
/ iÊ V iÊÌ>ÝÊ«À Û Ã Ê vÊÓääÎÊ> Õ Ìi`ÊÌ Ê/ fÊÓä]ä{Ó]nÓÈÊ Ê/ 1-fÊÎÓ] ÎäÊÜ V Ê ÃÊÃ Ü ÊÜ Ì Ê,iV ÛiÀ>L iÊÌ>ÝiÃÊÕ `iÀÊ ÕÀÀi ÌÊ >L Ì iÃ]Ê ViÊÌ iÊ«Ài«> `Ê V iÊÌ>ÝiÃ]ÊVÀi` ÌÊ ÊÌÀ> }ÊiÝ«i ÃiÃÊ> `Ê Ì iÀÃÊVÀi` ÌÃÊ ÊÌ iÊÌ Ì> Ê> Õ ÌÊ vÊ/ fÊ£x]{xÈ]ÈänÊ Ê/ 1-fÊÓx]Î xÊ >ÛiÊLii Ê`i`ÕVÌi`°
Ê
/>ÝÊ ÃÃiÃÊ«ÀiÃi Ìi`ÊLÞÊà iÊ vÊÌ iÊV «> iÃÊÌ Ì> Ê/ fÊ{£]xää]n£ÈÊ Ê/ 1-fÊÇ{]{x{Ê>ÌÊ iVi LiÀÊΣ]ÊÓää{Ê/ fÊ n]ÈÓx]ä£{Ê Ê/ 1-fÊ£ÈÓ]ä{äÊ>ÌÊ iVi LiÀÊΣ]ÊÓääή°
L®Ê />ÝÊ«À wÌà Ê
/ iÊL> > ViÊ vÊÕ ` ÃÌÀ LÕ Ìi`Ê«À wÌÃÊ Ê «ÀiÃ>ÃÊ * Ê-° °ÊÜ Ì Ê À« À>ÌiÊ V iÊÌ>ÝÊ«> `Ê> `ÊÃÕL iVÌÊÌ Ê` ÃÌÀ LÕÌ ÊÜ Ì ÊVÀi` ÌÊv ÀÊÌ iÊÃ >Ài `iÀÃÊ ÃÊV « Ãi`Ê v\
ÊÊ Ê
Ê
Ê
Óää{Ê
Ê
Ê
Ê
Ê
/ fÊ
Ê
/ 1-fÊ
/ fÊ
Ê
*À wÌÃÊÜ Ì Ê£Ç¯ÊVÀi` ÌÊ *À wÌÃÊÜ Ì Ê£È]x¯ÊVÀi` ÌÊ
ÓääÎ ÊÊÊÊÊÊÊÊÊÊÊÊÊ/ 1-f
Ó]Σ£]ÈnxÊ
{]£{ÇÊ
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ
£äx]Î {Ê
£n Ê
{]Ó£ÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £xx
*À wÌÃÊÜ Ì Ê£È¯ÊVÀi` ÌÊ
£]ä È]x{äÊ
£] ÈÇÊ
£]änÇ]äÈ{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]ÇnÈ
*À wÌÃÊÜ Ì Ê£x¯ÊVÀi` ÌÊ
Ó{n] {Ó]Î {Ê
{{È]È£{Ê
Ón ]xän]ÇxxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {Çx]ÈÈ£
] nä]änxÊ
£Ç] äxÊ
£n]äÇÈ] ÎnÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó ]Çää
Σ]ÎäÇ]ÇÓ{Ê
xÈ]£ÈÇÊ
£n]ÈÇÎ]ä{ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Îä]Ènä
*À wÌÃÊÜ Ì Ê£ä¯ÊVÀi` ÌÊ *À wÌÃÊÜ Ì ÕÌÊVÀi` ÌÊ
Ê>`` Ì ]Ê>VVÕ Õ >Ìi`Ê Ì>Ý>L iÊ V iÊ> Õ Ì }ÊÌ Ê/ fÊ£nÇ]ÎÓÈ]Ó££Ê Ê/ 1-fÊÎÎÈ]äÇ£Ê/ fÊ£nÇ]ÎäÎ]È{{Ê Ê/ 1-fÊÎäÇ]ÇÎ Ê ÊÓääήÊ>ÀiÊ` ÃÌÀ LÕÌi`ÊÕ« Ê `i« iÌ Ê vÊÌ iÊ>VVÕ Õ >Ìi`ÊÌ>Ý>L iÊ V iÊ i Ì i`Êi>À iÀÊ> `Êà >Ài `iÀÃÊ>ÀiÊ ÌÊÌ>Ýi`° V®Ê iviÀÀi`ÊÌ>Ýià ,iÃÌ>Ìi i ÌÊ vÊ ÀiÃÌÊ* > Ì>Ì ÃÊ> `Ê ÌÃÊVÀi` ÌÊÌ ÊÌ iÊ ÀiÃÌÊ,iÃiÀÛiÊiµÕ ÌÞÊ>VV Õ ÌÊ ÃÊÀiV À`i`Ê iÌÊ vÊ iviÀÀi`Ê/>ÝÊivviVÌÊ Ê>VV À`> ViÊÜ Ì ÊÌ iÊ V iÊÌ>ÝÊÀ>ÌiÊ>«« V>L iÊ Ü i ÊÌ iÊÀiëiVÌ ÛiÊÀiÃiÀÛiÊ ÃÊ` iÊ ÌiÊÓÊ ®°
Ç
Î
"/ -Ê/"Ê/ Ê " -" / Ê Ê-/ / / ÌÊ`iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ/À> à >Ì Ê vÊÌ iÊ À } > Ê Ê-«> à ®
V iÊÌ>Ý\ Ê
Ê
Ê
Óää{Ê
V iÊÌ>ÝÊ«À Û Ã Ê
/ f ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎ
ÓÓ]Σä]ä{Ç®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Óä]ä{Ó]nÓÈ®
*À À Þi>ÀÊiÝ«i ÃiÊ>` ÕÃÌ i ÌÊ
ÎxÈ]ÈÇÇ®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {Î]xn£®
iviÀÀi`ÊÌ>ÝÊ>ÃÃiÌÃÊ ÀÊ >L Ì iÃÊv ÀÊÌ iÊÞi>ÀÊ
Óä]{Î ]Ç{ήÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ È] Ç£]Ónx®
/>ÝÊÀivÕ `Ê`ÕiÊÌ Ê>VVÕ Õ >Ìi`ÊÌ>ÝÊ ÃÃiîÊ
{]ä {]n £ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {]ÇÎÎ]n£
ÀÌ â>Ì Ê vÊÃÕ«« i i Ì>ÀÞÊ>VV Õ ÌÃÊvÀ ÊÌ>ÝÊ>ÃÃiÌÃÊ> `Ê >L Ì iÃÊ >VVÕ Õ >Ìi`Ê>ÌÊÌ iÊLi} }Ê vÊÌ iÊÞi>ÀÊ
£]nÓ£]n ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]ÈäÓ]Ó£x
vviVÌÊ Ê`iviÀÀi`ÊÌ>ÝÊ>ÃÃiÌÃÊ> `Ê >L Ì iÃÊLÞÊÛ> Õ>Ì Ê«À Û Ã ÃÊ
Ê{]Ç n]ÓÎÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ê{]Óäx]Σn®
/ Ì> Ê
ÎÓ]Î £]{{{®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓÎ] ÓÈ] ÇÈ®
/ 1-fÊ
xn]££Ó®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î ]ΣӮ
iviÀÀi`ÊÌ>ÝiÃ\ Ê Ê Ê
Vi«Ì ÃÊ Ê
Óää{Ê
iviÀÀi`ÊÌ>ÝÊ / fÊ ÃÃiÌÃÊ
ÓääÎ
iviÀÀi`ÊÌ>Ý / f >L Ì iÃÊ
- ÀÌ ÌiÀ Ê
} ÌiÀ Ê
- ÀÌ ÌiÀ Ê
£]£È£]ää Ê
Ê
Ê
Ç{]ÓÓnÊ
Ê
Ê
£]£ÎÈ]Ó{£Ê
Ê
Ê
Ê
ÃÃiÌÃÊ
} ÌiÀ Ê
>L Ì iÃ
- ÀÌ ÌiÀ Ê
} ÌiÀ Ê
- ÀÌ ÌiÀ Ê
} ÌiÀ
Ê
£]Σx]{xnÊ
Ê
Ê
Ê
ÇÈ]xÈ Ê
Ê
Ê
Ê
Ê
£]£ä£]ÇÓÓÊ
Ê
Ê
Ê
ÎÇx]nÓÇÊ
Ê
Ê
£xn]nxÈÊ
xÈ ]ÓÎx
/ }Ê` vviÀi Vià >`Ê`iLÌÊ«À Û Ã Ê 1 i>À i`Ê V iÊ *À Û Ã Êv ÀÊÃÌ>vvÊÛ>V>Ì ÃÊ i>Ãi`Ê>ÃÃiÌÃÊ
> Õv>VÌÕÀ }ÊiÝ«i ÃiÃÊ
Ê
Ê
Ê
Ê
Ê
Ê
x ]Σ Ê
Ýi`Ê>ÃÃiÌÊ`i«ÀiV >Ì Ê
Ê
Ê
Ê
ÈÓ]Î Ó]ÓxäÊ
Ê
Ê
Ê
xÎ]ÈnÇ]n {
"Ì iÀÊiÛi ÌÃÊ
Î Ó]Ç £Ê
nÎä]n£ÎÊ
{Î{]ÎÓäÊ
Ê
ÇäÇ]Ó£äÊ
Ê
Ê
"Là iÃVi ViÊ«À Û Ã Ê
Çx£]nΣÊ
Ê
Ê
Ê
nÎ]x {Ê
Ê
Ê
*À Û Ã Êv ÀÊ >L ÀÊÃÕiÊ
ÓnÎ]Îx Ê
Ê
Ê
Ê
Î{È]Ó nÊ
Ê
Ê
Ê
Ç]ÓÎÎ] ÓxÊ
Ê
Ê
Ê
£n]ÈnÇ]xÈxÊ
Ê
Ó]ÎäÓ]È{
/>ÝÊ ÃÃÊ "Ì iÀÃÊ iÃî -Õ«« i i Ì>ÀÞÊ>VV Õ ÌÃÊ iÌÊ v >VVÕ Õ >Ìi`Ê> ÀÌ â>Ì Ê
Ê
Óx]ä£nÊ
Ê
£]n Ó]ä£{Ê
Ê
Ó]ÓxÈ]{ÓxÊ
Ê
6> Õ>Ì Ê«À Û Ã Ê
Ê Ê
ÊÎäÈ]Ç£ÎÊ
Ê Ê
Ê Ê
Ê Ê
Êx]ÓÎÓ]xÇäÊ
Ê Ê
Ê
Î]Ç ]{x Ê È]n£ÈÊ
Ç]ÇÎÎ]ääÇÊ £Î]nÇÎÊ
{Î{]ÎÓäÊ ÇÇ Ê
Èä]nÇÈ]äÈÎÊ £ä ]Ó£{Ê
{]xÎä]nx£Ê Ç]{{{Ê
££]£ n]xÇäÊ £n]Î Ê
Ó£n]£ÇxÊ ÎxnÊ
x£] x{]{nä nx]ÎÈä
/ Ì> Ê / 1-fÊ
Ç
{
"/ Ê Ê Ê"/ ,Ê 1,, /Ê -- // ÃÊ Ìi Ê V Õ`iÃÊÌ iÊv Ü }Ê ÛiÃÌ i ÌÃÊ Ê >À iÌ>L iÊÃiVÕÀ Ì iÃ\ >®ÊÊ >À iÌ>L iÊÃiVÕÀ Ì iÃÊÕ `iÀÊÀiÃ> iÊ>}Àii i Ì\ Ê
Ê
Ê ÃÌ ÌÕÌ
Êx] Σ]Ó£ÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ê £ä]È{£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Óä]£Çx]ÎÈ{Ê£®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ nÓ]Óxn]{x£ ÎÈ]£ xÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £Îx]£xä
Ê1-Ê` >ÀÃ\ 6 Ê ÀÀi` ÀiÃÊ`iÊ Ã>Ê-° °Ê / 1-fÊ
Ê
n]ÈxÈ]£Î{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £{]Î{ ]n x]xnn]ä£ÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £{]ään]Ó£ä ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓÇ]ÈÓ{]Èän ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £n]ÇÎx]äÎÎ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ È]äÇn]È{ä Ê ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ê£]{ÈÓ]äÈ£ £{]Ó{{]£x£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ nÓ]Óxn]{x£ Óx]xx{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £Îx]£xä
Ê i> Ê«ià ÃÊÀi `i >Ìi`ÊÌ ÊiÕÀ \ ViÊ ÀÀi` ÀiÃÊ`iÊ Ã>Ê-° °Ê / 1-fÊ -ÕLÌ Ì> Ê/ fÊ -ÕLÌ Ì> Ê/ 1-fÊ
Ê
/ f ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎ
Ê i> Ê«ià ÃÊÀi `i >Ìi`ÊÌ Ê` >À\ > V Ê ÃÌ>` Ê-° °Ê ÀÀi` ÀiÃÊ`iÊ Ã>Ê > V iÊ ÀÀi` ÀiÃÊ`iÊ Ã>Ê-° °Ê -> Ì> `iÀÊ }i ÌiÊ`iÊ6> ÀiÃÊ-° °Ê Ê ÀÀi` ÀiÃÊ`iÊ Ã>Ê-° °Ê
À«Ê ÀÀi` ÀiÃÊ`iÊ Ã>Ê-° °Ê ViÊ ÀÀi` ÀiÃÊ`iÊ Ã>Ê-° °Ê -ÕLÌ Ì> Ê -ÕLÌ Ì> Ê/ 1-fÊ
Ê
Ê Óää{Ê
Ê{£È] xÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ê Ç{nÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ
Ê i> Ê*ià Ã\ > V Ê ÃÌ>` Ê-° °Ê ÀÀi` ÀiÃÊ`iÊ Ã>Ê-° °Ê ViÊ ÀÀi` ÀiÃÊ`iÊ Ã>Ê-° °Ê >ÀÀ> Ê6 > Ê-° °Ê ÀÀi` ÀiÃÊ`iÊ Ã>Ê Ê ÀÀi` ÀiÃÊ`iÊ Ã>Ê-° °Ê > V iÊ ÀÀi` ÀiÃÊ`iÊ Ã>Ê-° °Ê -ÕLÌ Ì> Ê/ fÊ -ÕLÌ Ì> Ê/ 1-fÊ / Ì> Ê >À iÌ>L iÊÃiVÕÀ Ì iÃÊÕ `iÀÊÀi«ÕÀV >ÃiÊ>}Àii i ÌÊ/ fÊ / Ì> Ê >À iÌ>L iÊÃiVÕÀ Ì iÃÊÕ `iÀÊÀi«ÕÀV >ÃiÊ>}Àii i ÌÊ/ 1-fÊ
£Î]ÇÇÇ]ÇxÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ n]È n]Ç{ÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÎäÇ]n{{ Î]ääÓ]ÈääÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î]£Çn]{£ä Ê ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÓ]äxä]ÎnÓ Óx]{Ç ]ä nÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ x]xÎÈ]ÈÎÈ {x]Ç££ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ]ä Ç {È]äÇ£]{£{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ nÇ]Ç x]änÇ nÓ]Èx{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £{{]Ó{Ç
L®Ê >À iÌ>L iÊÃiVÕÀ Ì iÃÊÕ `iÀÊÀi«ÕÀV >ÃiÊ>}Àii i Ì\ Ê
Ê
Ê
Óää{Ê
> V Ê ÃÌ>` Ê / Ì> Ê >À iÌ>L iÊÃiVÕÀ Ì iÃÊÕ `iÀÊÀiÃ> iÊ>}Àii i ÌÊ / Ì> Ê >À iÌ>L iÊÃiVÕÀ Ì iÃÊÕ `iÀÊÀiÃ> iÊ>}Àii i ÌÊ/ 1-fÊ
/ f ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎ
Ó]ääx]£ xÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ê Ó]ääx]£ xÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î]x ÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ
V®Ê "Ì iÀ Ê
Ê
Ê
Óää{Ê
ÀÜ>À`Ê ÌÀ>VÌÊ, } ÌÃÊ *À ÃÃ ÀÞÊ ÌiÃÊÀiVi Û>L iÊ Ê1 Ê / Ì> Ê / 1-fÊ / Ì> Ê"Ì iÀÊVÕÀÀi ÌÊ>ÃÃiÌÃÊ / Ì> Ê"Ì iÀÊVÕÀÀi ÌÊ>ÃÃiÌÃÊ/ 1-fÊ
/ f ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎ
£Î{]È{nÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ê Ê ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ê£ x]Çnx £Î{]È{nÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ x]Çnx Ó{ÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÎÓ£ {n]Ó££]ÓxÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ nÇ] ä]nÇÓ ÊnÈ]{ ÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £{{]xÈn
£®Ê >À iÌ>L iÊ ÃiVÕÀ Ì iÃÊ Ài `i >Ìi`Ê Ì Ê Ì iÀÊ VÕÀÀi V iÃÊ ÀiviÀÊ Ì Ê «iÀ>Ì ÃÊ Ü Ì Ê v ÀÜ>À`Ê V ÌÀ>VÌÃÊ -Þ Ì iÌ V> ®°Ê " Ê Ì iÊ iÊ > `]Ê Ì iÞÊ V à `iÀÊ Ì iÊ Û> ÕiÊ vÊ Ì iÊ >À iÌ>L iÊ ÃiVÕÀ Ì iÃÊ Õ `iÀÊ ÀiÃ> iÊ >}Àii i ÌÃÊ Ê i> Ê «ià Ã]Ê Û> Õi`Ê >ÃÊ vÊ Ì iÊ V à }Ê `>Ìi]Ê L>Ãi`Ê Ê Ì iÊ Û> ÕiÊ vÊ «À V «> Ê « ÕÃÊ Ì iÊ >VVÀÕi`Ê ÌiÀiÃÌÊ vÊ / fÊÓä] xÓ]ÇxÇÊ Ê/ 1-fÊÎÇ]x äÊ/ fÊn{]äÓx]Ç{xÊ Ê/ 1-fÊ£În]äx{Ê>ÃÊ vÊ iVi LiÀÊΣ]ÊÓääÎ®Ê vÊÌ iÃiÊÃiVÕÀ Ì iÃ°Ê ÕÀÌ iÀ Ài]ÊÌ iÞÊV à `iÀÊÌ iÊëÀi>`Ê vÊ Ì iÊÛ> ÕiÊ vÊÌ iÊà } i`Êv ÀÜ>À`ÊV ÌÀ>VÌÃÊÌ ÊÀi `i >ÌiÊÌ iÃiÊ «iÀ>Ì ÃÊÌ Ê` >ÀÊ ÀÊiÕÀ Êv ÀÊ/ fÊÇÇÇ]Î Î®Ê Ê/ 1-fÊ£]Î x®Ê>ÃÊ vÊ iVi LiÀÊΣ]ÊÓää{Ê> `Ê / fÊ£]ÇÈÇ]Ó {®Ê Ê/ 1-fÊÓ] ä{®Ê>ÃÊ vÊ iVi LiÀÊΣ]ÊÓääΰÊ/ iÞÊ>ÀiÊÀiV À`i`Ê>ÌÊÌ iʺv> ÀÊÛ> Õi»Ê vÊi>V ÊÞi>ÀÊi `°
Ç
x
Ç
È
* >Vi i ÌÊ`>Ìi Ê
ÓÇÉ£ÓÉÓää{Ê Ê
ӣɣÓÉÓää{Ê Ê
ÓÎÉ£ÓÉÓää{Ê Ê
ÓnÉ£ÓÉÓää{Ê Ê
ӣɣÓÉÓää{Ê Ê
äÈÉ£ÓÉÓää{Ê Ê
äÓÉ£ÓÉÓää{Ê
ÎäÉ££ÉÓää{Ê
ÎäÉ£ÓÉÓää{Ê
ÓäÉ£ÓÉÓää{Ê
ÎäÉ£ÓÉÓää{Ê
Ê
`i Ê
,6Ê Ê
,6Ê Ê
,6Ê Ê
,6Ê Ê
,6Ê Ê
,6Ê Ê
,6Ê
,6Ê
,6Ê
,6Ê
6, Ê
Ê
äÎÉä£ÉÓääxÊ
£ÈÉäÓÉÓääxÊ
äÈÉä£ÉÓääxÊ
äÇÉäÓÉÓääxÊ
äÎÉäÓÉÓääxÊ
£äÉä£ÉÓääxÊ Ê
äxÉä£ÉÓääxÊ Ê
äxÉä£ÉÓääxÊ Ê
äxÉä£ÉÓääxÊ Ê
äxÉä£ÉÓääxÊ Ê
äxÉä£ÉÓääxÊ Ê
>ÌiÊ vÊ >ÌÕÀ ÌÞÊ
> V Ê ÃÌ>` Ê
> V Ê ÃÌ>` Ê-° °Ê ÀÀi` ÀiÃÊ`iÊ Ã>Ê
6 Ê ÀÀi` ÀiÃÊ`iÊ Ã>Ê-° °Ê
ViÊ ÀÀi` ÀiÃÊ`iÊ Ã>Ê-° °Ê
> V iÊ ÀÀi` ÀiÃÊ`iÊ Ã>Ê-° °Ê
> V Ê ÃÌ>` Ê-° °Ê ÀÀi` ÀiÃÊ`iÊ Ã>Ê Ê
>ÀÀ> Ê6 > Ê-° °Ê ÀÀi` ÀiÃÊ`iÊ`iÊ Ã>Ê Ê
> V Ê ÃÌ>` Ê-° °Ê ÀÀi` ÀiÃÊ`iÊ Ã>Ê Ê
> V Ê ÃÌ>` Ê-° °Ê ÀÀi` ÀiÃÊ`iÊ Ã>Ê Ê
> V Ê ÃÌ>` Ê-° °Ê ÀÀi` ÀiÃÊ`iÊ Ã>Ê Ê
ViÊ ÀÀi` ÀiÃÊ`iÊ Ã>Ê-° °Ê Ê
Ê ÃÌ ÌÕÌ Ê
-> iÃÊÕ `iÀÊÀi«ÕÀV >ÃiÊ>}Àii i ÌÃÊ> `Ê«ÕÀV >ÃiÃÊÕ `iÀÊÀiÃ> iÊ>}Àii i ÌÃ\
1-fÊ
1-fÊ
1-fÊ
ÕÀ Ê
1-fÊ
1-fÊ Ê
fÊ Ê
fÊ Ê
fÊ Ê
fÊ Ê
fÊ Ê
Ê
ÕÀÀi VÞ Ê
Ó]ääx]£ xÊ
£]{ää]äääÊ
{£È] ÓäÊ
È]£ÎÓ]£Ó Ê
x]nÎä]äääÊ
Ç]x{Ç]£xäÊ Ê
Î]äää]äääÊ Ê
x]x ä]äääÊ Ê
x]È{ä]äääÊ Ê
Ó]x{ä]äääÊ Ê
n]È x]xääÊ Ê
Ì > Ê> Õ ÌÊ / fÊ
ä°Ó Ê
ä°ÎÊÊ
ä°ÓäÊ
ä°Ó{Ê
ä°Ó{Ê
ä°ÓÎÊ Ê
ä°ÓÈÊ Ê
ä°ÓnÊ Ê
ä°ÓÈÊ Ê
ä°ÓÈÊ Ê
ä°ÓnÊ Ê
ÌiÀiÃÌÊÀ>ÌiÊ ¯Ê
Ó]ääÈ]äÓÎÊ
£]{äÈ]nÈäÊ
{£Ç]££ Ê
x] { ]nx{Ê
x]ÈäÎ]nÇxÊ
Ç]ÓÈÇ]ÈnÈÊ Ê
Î]ääÎ] ääÊ Ê
x]x {]£Ç{Ê Ê
x]È{È]Îx{Ê Ê
Ó]x{Î]ÎäÓÊ Ê
n]ÇäÓ]nä{Ê Ê
> Ê> Õ ÌÊ / fÊ
Ê
*, Ê
Ê
`Ê1 Ê1 `>`iÃÊ`iÊ i Ì ®Ê
/ iÊ`i« à ÌÃÊ Ê i> Ê«ià ÃÊ
*À ÃÃ ÀÞÊ ÌiÃÊ `iÝi`ÊÉÊ ÌÊ `iÝi`Ê
*, Ê Ê `Ê1 ÊÊ 1 `>`iÃÊ`iÊ i Ì ®Ê
*À ÃÃ ÀÞÊ ÌiÃÊ `iÝi`ÊÉÊ ÌÊ `iÝi`Ê *Ê
*À ÃÃ ÀÞÊ ÌiÃÊ `iÝi`ÊÉÊ ÌÊ `iÝi`Ê
*À ÃÃ ÀÞÊ ÌiÃÊ `iÝi`ÊÉÊ ÌÊ `iÝi`Ê
*À ÃÃ ÀÞÊ ÌiÃÊ `iÝi`ÊÉÊ ÌÊ `iÝi`Ê
Ê ÃÌÀÕ i Ì Ê
Ó]ääx]£ x
£]Î {]ÓÎx
{£È] xÓ
x] Σ]Ó£Î
x]xnn]ä£Ç
Ç]ÓÈ£]n
Î]ääÓ]Èää
x]x £]xÈx
x]È{Î] nÈ
Ó]x{Ó]Óä£
n]È n]Ç{È
>À iÊÛ> Õi / f
Ì ÊV Vi«ÌÃÊ>ÀiÊÃ Ü Ê Ê"Ì iÀÊVÕÀÀi ÌÊ>ÃÃiÌÃÊ> `ÊÌ iÊ L }>Ì Ê vÊÌ iÊÃiVÕÀ Ì iÃÊÕ `iÀÊÀi«ÕÀV >ÃiÊ>}Àii i ÌÊ ÃÊ«ÀiÃi Ìi`Ê Ê"Ì iÀÊVÕÀÀi ÌÊ >L Ì iÃ]Ê>ÃÊÃiÌÊv ÀÌ Ê Ê ÀVÕ >ÀÊ cÇÈnÊ ÃÃÕi`ÊLÞÊÌ iÊ i> Ê-Õ«iÀ Ìi `i VÞÊ vÊ -iVÕÀ Ì iÃÊ> `Ê ÃÕÀ> Vi°Ê
ÌÊ iVi LiÀÊΣ]ÊÓää{ÊÌ iÀiÊ>ÀiÊÃ> iÃÊ «iÀ>Ì ÃÊÕ `iÀÊÀi«ÕÀV >ÃiÊ>}Àii i ÌÃÊ ÊÌ iÊ> Õ ÌÊ vÊ/ fÊÓ]ääx]£ xÊ Ê/ 1-fÊÎ]x Ç°
ÌÊ iVi LiÀÊΣ]ÊÓää{ÊÌÀ> Ã>VÌ ÃÊÕ `iÀÊÀiÃ> iÊ>}Àii i ÌÃÊ> Õ ÌÊÌ Ê/ fÊ{È]äÇ£]{£{Ê Ê/ 1-fÊnÓ]Èx{Ê/ fÊnÇ]Ç x]änÇÊ Ê/ 1-fÊ£{{]Ó{ÇÊ ÊÓääή°Ê- iÊ vÊÌ iÃiÊ ÛiÃÌ i ÌÃÊÜiÀiÊÀi `i >Ìi`ÊÌ Ê` >ÀÊ> `ÊiÕÀ Ê Ì À Õ} ÊÌ iÊÃÕLÃVÀ «Ì Ê vÊv ÀÜ>À`ÊV ÌÀ>VÌð
"/ Ê£äÊ Ê Ê 6 -/ /-
ÌÊ`iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ/À> à >Ì Ê vÊÌ iÊ À } > Ê Ê-«> à ®
"/ -Ê/"Ê/ Ê " -" / Ê Ê-/ / /-
"/ Ê££Ê Ê 8 Ê -- /-Ê >®Ê Ýi`Ê>ÃÃiÌà Ê
/ iÊL> > ViÃÊ vÊwÝi`Ê>ÃÃiÌÃÊ>ÀiÊ>ÃÊv ÜÃ\
Ê Ê
Ê
Ê
Óää{Ê
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓääÎ
> `Ê
ÓÎÇ]£Ón]ÎÈÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓÎÓ]ÓÎ ]£ Ó
ÀiÃÌÀÞÊ« > Ì>Ì ÃÊ
Ê Óä]x n] ΣÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ê ä£]ÇnÓ]£nä
> `Ê> `Ê« > Ì>Ì ÃÊ Õ ` }ÃÊ
£]£xÇ]ÇÓÇ]Ó {ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]£Î{]äÓ£]ÎÇÓ ÎÓn]ÇnÈ]{£ÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÎÓÇ] £]Î{Î
ÃÌÀÕVÌ ÃÊ> `Ê Ì iÀÃÊ
£än]£Èä]ΣÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £äx]ÇÈÓ]ä £
VVÕ Õ >Ìi`Ê`i«ÀiV >Ì Ê
Ê£xÎ]ää{]Çx{®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ê£{ ]ΣÓ]Ç{{®
Õ ` }ÃÊ> `ÊV ÃÌÀÕVÌ ÃÊ iÌÊ `ÕÃÌÀ > Ê >V iÀÞÊ 6i V iÃÊ ÕÀ ÌÕÀiÊ> `Ê vwViÊiµÕ « i ÌÊ -«>ÀiÊ«>ÀÌÊ> `Ê Ì iÀÃÊ VVÕ Õ >Ìi`Ê`i«ÀiV >Ì Ê >V iÀÞÊ> `ÊiµÕ « i ÌÃÊ iÌÊ "Ì iÀÊwÝi`Ê>ÃÃiÌÃÊ
Ê
/ f
ÓnÎ] {£] Ç{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ón{]{{ä]È ä £]xän]{È{]Ç äÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]{{x]xx ]Óän È]£ä£]ÎnÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ç]ÓÎx]n£Ç Óx]ÓÎÓ] nxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓÈ]Ç£Î]ää £{]ÓÇÇ]ÇÓxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ££] nÇ] Óä Ên n]{ x]x Ó®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊnÎÈ]äÓn]£Óx® Èxx]xn£]Ó {ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Èxx]{ÈÇ]nÓ {ä]nxÎ]ÇxäÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {Î]nÈä] äxÊ
ÃÌÀÕVÌ ÃÊ Ê«À }ÀiÃÃÊ
Î]n{Ç]nÈÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ xÓ]È Ó]xnx
VVÕ Õ >Ìi`Ê`i«ÀiV >Ì Ê
ÊÓÎ]ä ]ÓÓήÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÓä] Ó{]ÇÈÈ®
"Ì iÀÊwÝi`Ê>ÃÃiÌÃÊ iÌÊ
£££]ÈäÓ]Î äÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Çx]ÈÓn]ÇÓ{
VÀi>Ãi`ÊÛ> ÕiÊvÀ ÊÌiV V> Ê>««À> Ã> Ê v\ > `Ê Õ ` }ÃÊ> `ÊV ÃÌÀÕVÌ ÃÊ
n]ÎnÇ]{£ÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ n]{äÎ]Çn{ Óä]£{Ó]ä{ÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Óä]£Ç ]nÎ{
>V iÀÞÊ> `ÊiµÕ « i ÌÃÊ
£ ]ä£ä]ä£ÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ ]£xÓ]ÓÈ{
VVÕ Õ >Ìi`Ê`i«ÀiV >Ì Ê
ÊÓx]£xÎ]nx{®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÓÎ]näÇ]È n®
VÀi>ÃiÊ ÊÛ> ÕiÊvÀ ÊÌiV V> Ê>««À> Ã> Ê / Ì> Ê iÌÊwÝi`Ê>ÃÃiÌÃÊ / 1-fÊ
ÓÓ]Înx]ÈÓÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓÎ] Ón]£n{ Ó]ÓΣ]ÓÎn]xÇxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]£ÇÎ]{nÈ]Ç {]ääÓ] {äÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î]xÇ£]äÓx
Ýi`Ê>ÃÃiÌÊ`i«ÀiV >Ì ]ÊV> VÕ >Ìi`Ê>ÃÊ ÕÌ i`Ê Ê ÌiÊÓÊ ®]Ê> Õ ÌÃÊÌ Ê/ fÊnÓ]äÇ{]x{ Ê Ê/ 1-fÊ£{Ç]Ó{xÊ ÊÓää{Ê/ fÊn{]ÓÎx]äÎxÊ Ê/ 1-fÊ£În]Î nÊ ÊÓääÎ®Ê > `Ê ÃÊÃ Ü Ê Ê"«iÀ>Ì }Ê ÃÌÃÊ ÊÌ iÊÃÌ>Ìi i ÌÊ vÊ V i]Ê> Õ Ì }ÊÌ Ê/ fÊÇÇ]Ç{È] È£Ê Ê/ 1-fʣΠ]{n£Ê/ fÊÇn]näx]{{{Ê Ê/ 1-fÊ£Ó ]{ÇÇÊ ÊÓääήÊ> `Ê Ê ` ÃÌÀ>Ì ÛiÊiÝ«i ÃiÃ]Ê> Õ Ì }ÊÌ Ê/ fÊ{]ÎÓÇ]xnnÊ Ê/ 1-fÊÇ]ÇÈ{Ê/ fÊx]{Ó ]x £Ê Ê/ 1-fÊn] Ó£Ê ÊÓääή°
Ç
Ç
"/ -Ê/"Ê/ Ê " -" / Ê Ê-/ / / ÌÊ`iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ/À> à >Ì Ê vÊÌ iÊ À } > Ê Ê-«> à ®
/ iÊ L> > ViÊ Õ `iÀÊ "Ì iÀÊ v Ýi`Ê >ÃÃiÌÃÊ V Õ`iÃÊ i>Ãi`Ê >ÃÃiÌÃÊ Ê v Ài } Ê ÃÕLà ` >À iÃÊ > Õ Ì }Ê Ì Ê / fÊ Î ]n{{]äÈÇÊ Ê / 1-fÊ Ç£]{nÓÊ Ê Óää{Ê / fÊ {Î]xäÇ]£ÈÓÊ Ê / 1-fÊÇ£]{nÓÊ ÊÓääή° / iÊ > ÊV >À>VÌiÀ ÃÌ VÃÊ vÊÌ iÊ i>ÃiÊV ÌÀ>VÌÊ Ê>ÃÃiÌÃÊ Ê À}i Ì >]ÊÜ V Ê >ÌÕÀ ÌÞÊÜ>ÃÊiÝÌi `i`Ê«ÕÀÃÕ> ÌÊÌ Ê>ÊÀiÃV i`Õ }Ê>}Àii i ÌÊ`>Ìi`Ê «À ÊÈ]ÊÓää{Ê>Ài\ Ê Ê
Ê
iÃVÀ «Ì Ê
Ì > Ê> Õ ÌÊ / 1-fÊ
ÌiÀiÃÌÊÀ>ÌiÊ ¯
Ì > Ê`>Ìi
Ê
Ê
*>«iÀÊ >V iÀÞÊ
Ç£]{nÓÊ
Î°Ó Ê
"VÌ LiÀÊ£ Ê
> Ê >ÌÕÀ ÌÞÊ`>Ìi
«À ÊÓää
/ iÊ «> ÞÊ`iÌiÀ iÃÊÌ iÊv ÀiÃÌÊ>««À> Ã> Êv ÀÊ ÌÃÊv ÀiÃÌÊÕà }Ê>Ê `i ÊÌ >ÌÊL>à V> ÞÊ«À «iÀ ÞÊV à `iÀÃÊÌ >ÌÊÌ iÊiÃÌ >Ìi`ÊÛ Õ iÃÊ vÊ Õ LiÀÊ>Û> >L iÊÜ ÊLiÊ«À }ÀiÃà Ûi ÞÊ Ài> âi`Ê ViÊÌ iÊÀiëiVÌ ÛiÊ« > Ì>Ì ÃÊ >ÛiÊÀi>V i`Ê «Ì > ÊiÝ« Ì>Ì Ê>}iÊ> `ÊV ` Ì Ã°Ê/ iÊ `i ÊÕÃiÃÊ` vviÀi ÌÊÛ>À >L iÃ]ÊÃÕV Ê>ÃÊÌ iÊiÝV > }iÊÀ>ÌiÊ ÊÌ iÊ >ÃÌÊ ÎÈÊ Ì Ê vÊ1 Ìi`Ê-Ì>ÌiÃÊ` >À° Ýi`Ê>ÃÃiÌÃÊ>LÀ >`\ Ýi`Ê>ÃÃiÌÃÊ vÊÃÕLà ` >À iÃÊ Ê À}i Ì >]Ê1ÀÕ}Õ>ÞÊ> `Ê*iÀÖÊ>ÀiÊÛ> Õi`Ê>ÌÊÌ iÊiµÕ Û> i ÌÊ vÊÌ i ÀÊ ÃÌ À V> ÊÛ> ÕiÊ Ê1-Ê` >ÀÃÊ vÊ>VµÕ Ã Ì Ê`>Ìi]Ê iÌÊ vÊ`i«ÀiV >Ì Ê> `Ê>` ÕÃÌ i ÌÊ v ÀÊ`iÛ> Õ>Ì Ê vÊ>ÃÃiÌÃÊ> `Ê Ì iÀðÊ/ iÞÊ> Õ ÌÊÌ Ê/ fÊ£{ ]x£ ]{äÎ]Ê>ÌÊ iVi LiÀÊΣ]Óää{ÊiµÕ Û> i ÌÊÌ Ê/ 1-fÊÓÈn]Ó{{®]Ê> `ÊÌ Ê/ fÊ£ÇÈ]nÇ{]{ÎÇÊ>ÌÊ iVi LiÀÊΣ]Ê ÓääÎÊiµÕ Û> i ÌÊÌ Ê/ 1-fÊÓ ä]Èä{®°Ê-ÕV ÊÛ> Õ>Ì Ê ÃÊL>Ãi`Ê Ê>VV Õ Ì }ÊÃÌ> `>À`ÃÊ vÊ/iV V> Ê Õ iÌ Ê cÊÈ{Ê ÃÃÕi`ÊLÞÊÌ iÊ i> Ê ÃÌ ÌÕÌiÊ vÊ VV Õ Ì> Ìð / iÊ> Õ ÌÃÊ«ÀiÃi Ìi`ÊÕ `iÀÊÌ ÃÊÃÌ> `>À`ÊV Õ `Ê` vviÀÊ ÊViÀÌ> ÊV>ÃiÃÊvÀ ÊÌ iÊ >À iÌÊÛ> ÕiÊ ÀÊVÕÀÀi ÌÊÀi« >Vi i ÌÊÛ> ÕiÊ vÊwÝi`Ê>ÃÃiÌÃ]Ê`iÀ Ûi`ÊvÀ ÊÌ iÊÀiëiVÌ ÛiÊ VÕÀÀi V iÃÊ vÊÃÕV ÊV Õ ÌÀ iÃÊÜ Ì ÊÀi}>À`ÊÌ ÊÌ iÊ` >À° ÌÜ Ì ÃÌ> ` }ÊÌ iÊ>L Ûi]ÊÌ iÊ «> Þ½ÃÊ > >}i i ÌÊiÃÌ >ÌiÃÊÌ >ÌÊÌ iÊL ÊÛ> ÕiÊ vÊ ÌÃÊwÝi`Ê>ÃÃiÌÃÊ` iÃÊ ÌÊiÝVii`Ê ÌÃÊÀi« >Vi i ÌÊ ÀÊ >À iÌÊÛ> ÕiÊ ÊÌ iÊVÕÀÀi ÌÊ V ÀVÕ ÃÌ> ViÃÊ> `ÊÌ >ÌÊvÕÌÕÀiÊ V iÊÜ ÊLiÊi Õ} ÊÌ ÊV ÛiÀÊ> ÊÌ iÊV ÃÌÃÊ> `ÊiÝ«i ÃiÃ]ÊÌ> i Ê>ÃÊ>ÊÜ i°Ê/ iÀiv Ài]Ê Ê ÌÃÊ « ]Ê Ê>` ÕÃÌ i ÌÃÊÌ ÊÌ iÃiÊÛ> ÕiÃÊ>ÀiÊ iViÃÃ>ÀÞÊ>ÌÊÌ ÃÊ`>Ìi° / iÊ > Ê ÃÕÀ> ViÊ« V iÃÊ vÊ «ÀiÃ>ÃÊ * Ê> `ÊÃÕLà ` >À iÃÊ>Ài\ >®Ê Ê `ÕÃÌÀ > Ê> `ÊiµÕ « i ÌÊ`> >}iÊÀ à Ã\ Ê UÊ ÃÃiÌÃÊV ÛiÀi`\Ê* Þà V> ÊwÝi`Ê>ÃÃiÌÃ]Ê Ûi Ì À iÃ]Ê> `Ê`> >}iÊ`ÕiÊÌ ÊÃÌ ««>}ið Ê UÊ , à ÃÊV ÛiÀi`\Ê ÞÊÀ à ÃÊ vÊ ÃÃÊ> `É ÀÊ`> >}iÊ> `É ÀÊ«>ÀÌ > Ê ÀÊÌ Ì> Ê`iÃÌÀÕVÌ Ê vÊ> Ê Ìi ÃÊ ÃÕÀi`Ê>}> ÃÌÊwÀi]ÊiÝ« à ]Êi>ÀÌ µÕ> iÃ]Ê > V ÕÃÊ>VÌÃ]ÊÃ>L Ì>}iÊ > `Ê Ì iÀÊÀ à Ã]ÊiµÕ « i ÌÊLÀi> ` Ü ]Ê> `Ê`> >}iÃÊÀiÃÕ Ì }ÊvÀ Ê «iÀ>Ì ÊÃÌ ««>}iÃÊÌiÀÀ À ÃÌÊ>VÌÃÊiÝV Õ`i`®°Ê Ê>ÃÃiÌÃÊ>ÀiÊ ÃÕÀi`Ê>ÌÊÌ i ÀÊÀi« >Vi i ÌÊÛ> ÕiÊ ÀÊ Ài« >Vi i ÌÊv ÀÊ>Ê iÜÊ>ÃÃiÌÊLÕ ` }Ã]Ê >V iÀÞ]ÊiµÕ « i ÌÊ> `Ê« > Ìî° Ê UÊ ÃÕÀi`Ê> Õ ÌÃ\Ê/ 1-fÊÎ]Óä£]n{ÎÊ Ê* Þà V> Ê>ÃÃiÌÃÊ> `Ê/ 1-fÊÈ ]{ÈÇÊ Ê`> >}iÃÊvÀ ÊÃÌ ««>}iÃ]Ê> Õ> Þ° L®Ê Ê ÀiÃÌÊ, Ã Ã Ê UÊ ÃÃiÌÃÊV ÛiÀi`\Ê ÀiÃÌÊ« > Ì>Ì ÃÊ vÊÀ>` >Ì>Ê« i]ÊiÕV> Þ«ÌÕÃ]Ê> `Ê Ì iÀÊëiV iÃ]Ê V Õ` }ÊÌ LiÀÊ Ûi Ì À ið Ê UÊ , à ÃÊV ÛiÀi`\Ê Ài]ÊiÝ« à Ã]Ê> `Êi>ÀÌ µÕ> iÃÆÊ`> >}iÃÊV>ÕÃi`ÊLÞÊÜ `]Êà ÜÊ ÀÊ ViÆÊ > V ÕÃÊ>VÌÃÊ> `Ê Ì iÀ° Ê UÊ ÃÕÀi`Ê> Õ Ì\Ê* > Ì>Ì ÃÊ> Õ Ì }ÊÌ Ê/ 1-fÊ£]{nä] Èx° V®Ê /À> ë ÀÌÊÀ Ã Ê UÊ ÛiÀ>}iÊv ÀÊ« Þà V> Ê>ÃÃiÌÃÊÃÕV Ê>ÃÊ >V iÀÞ]ÊiµÕ « i Ì]Ê«À `ÕVÌÃ]ÊÀ>ÜÊ >ÌiÀ > Ã]ÊiÌV]Ê`ÕÀ }ÊÌÀ> ë ÀÌÊvÀ Ê> `ÊÌ ÊÌ iÊÜ>Ài ÕÃiÃÊ vÊÌ iÊ «> ÞÊ> `ÊÃÕLà ` >À iÃ°Ê Ã ]ÊÌ iÊÌÀ> ÃviÀÊvÀ Ê-Õ«« iÀÊÜ>Ài ÕÃiÃÊ> `ÊÌ Ê i ÌÊÜ >Ài ÕÃið `®Ê iVÌ ÊÀ Ã Ê UÊ / ÃÊV ÛiÀ>}iÊ V Õ`iÃÊÀ à ÃÊ vÊÕ V iVÌ L ÌÞÊ vÊÌÀ>`iÊÀiVi Û>L iÃ]Ê«>ÀÌ VÕ >À ÞÊvÀ Êv Ài } ÊV i Ìð
Ç
n
"/ Ê£ÓÊ Ê 6 -/ /-Ê Ê, / Ê " * - } wV> ÌÊ v À >Ì Ê ÊÌ iÊÃÕLà ` >À iÃ\ >®Ê V À« À>Ì ]Ê«ÕÀV >ÃiÃ]ÊÃ> iÃ]ÊV>« Ì> Ê VÀi>ÃiÃÊ> `Ê` Û `i `ÃÊ vÊÌ iÊÃÕLà ` >À iÃÊ> `Ê>Ãà V >ÌiÃ\ Ê UÊ L >À >ÊÞÊ ÀiÃÌ> Ê > Ìi iÃÊ-° ° Ê Ê " Ê iVi LiÀÊÈ]ÊÓää{]ÊÌ iÊV «> iÃÊ ÀiÃÌ> Ê V Ê-° °Ê> `Ê ÀiÃÌ> Ê ÕiV Ê-° °Ê«ÕÀV >Ãi`ÊÌ iÊÌ Ì> Êà >ÀiÃÊ vÊ L >À >ÊÞÊ ÀiÃÌ> Ê > Ìi iÃÊ-° °Ê/ iÊiµÕ ÌÞÊ Ü iÀà «Ê ÊÃÕV ÊV «> ÞÊ ÃÊnn° ¯Ê> `Ê££°£¯]ÊÀiëiVÌ Ûi Þ° Ê UÊ ViV À«Ê-° ° Ê Ê " Ê Õ}ÕÃÌÊÎ]ÊÓää{]Ê * ÊÕ `iÀÜÀ ÌiÊ> `Ê«> `Êv ÀÊ£]Ç£{]nnnÊà >ÀiÃÊV ÀÀië ` }ÊÌ Ê>ÊV>« Ì> Ê VÀi>ÃiÊ vÊ ViV À«Ê-° °]ÊÜ iÀiLÞÊÌ iÊ«iÀVi Ì>}iÊ vÊiµÕ ÌÞÊ Ü iÀà «Ê Ü>ÃÊ > Ì> i`°Ê/ iÊV ÃÌÊ«> `Êv ÀÊÃÕV Êà >ÀiÃÊ> Õ Ìi`ÊÌ Ê/ fÊx]£{{]ÈÈ{Ê Ê/ 1-fÊ ]ÓÎäÊ ÃÌ À V> ÊÛ> Õi° Ê Ê " Ê Õ}ÕÃÌÊ Óä]Ê Óää{]Ê >Ê Õ LiÀÊ vÊ Ó{]£È£Ê à >ÀiÃÊ ÌÊ Õ `iÀÜÀ ÌÌi Ê LÞÊ Ì iÊ «ÀiviÀÀi`Ê Ã >Ài `iÀÃÊ ÜiÀiÊ Õ `iÀÜÀ ÌiÊ > `Ê «> `Ê Ê Ì iÊ > Õ ÌÊ vÊ / fÊ ÇÓ]{nÎÊ Ê / 1-fÊ£ÎäÊ ÃÌ À V> ÊÛ> Õi]ÊÜ iÀiLÞÊÌ iÊiµÕ ÌÞÊ Ü iÀà «ÊÜ>ÃÊ VÀi>Ãi`ÊLÞÊä°äΣȯ° Ê Ê / ÃÊÕ `iÀÜÀ Ì }Ê> `Ê«>Þ i ÌÊ vÊà >ÀiÃÊÜ>ÃÊÀiV À`i`Ê>ÌÊÌ iʺ > ÀÊ6> Õi»Ê vÊÌ iÊ ÛiÃÌ i Ì]Ê«ÕÀÃÕ> ÌÊÌ ÊÌ iÊ iÜÊÀi}Õ >Ì ÃÊ`iÃVÀ Li`Ê Ê ÌiÊÓÊ ®° Ê UÊ ÀiÃÌ> ÊÞÊ }À V >Ê ÌiÊ }Õ >Ê-° ° Ê Ê Ê >ÀV ÊÓääÎ]Ê «ÀiÃ>ÃÊ * Ê-° °Ê«ÕÀV >Ãi`Ê Ê1-fÊ£ääÊ ÃÊÌ iÊ °Çx¯ÊiµÕ ÌÞÊ Ü iÀà «Ê Ê ÀiÃÌ> ÊÞÊ }À V >Ê ÌiÊ }Õ >Ê-° °Ênä]x{Ó] ÎÊà >Àiî° Ê Ê ÕÀ }Ê Õ}ÕÃÌÊÓää{]ÊÌ iÊ «> ÞÊ«ÕÀV >Ãi`Ê ]n£nÊà >ÀiÃÊ ÊÌ iÊ> Õ ÌÊ vÊ/ fÊÎ]ÈÓÎÊ Ê/ 1-fÊÈ°xÊ ÃÌ À V> ÊÛ> Õi®° Ê Ê / iÊ«ÕÀV >Ãi`ÊV «> ÞÊ >ÃÊ>Êv ÀiÃÌÊÜi> Ì Ê vÊx ]äääÊ iVÌ>ÀiÃÊ vÊ > `]Ê vÊÜ V ÊÎÎ]äääÊ iVÌ>ÀiÃÊV ÀÀië `ÊÌ ÊiÕV> Þ«ÌÕÃÊ« > Ì>Ì Ã° Ê UÊ Û>ÃiÃÊ, L iÊ Ì Ê-° ° Ê Ê ÕÀ }Ê > Õ>ÀÞÊÓää{]Ê Û>ÃiÃÊ, L iÊ Ì Ê Ì`>°ÊV > }i`Ê ÌÃÊiÝ ÃÌi ViÊ>ÃÊ>Ê i}> Êi Ì ÌÞ]ÊLiV }Ê>ÊÃÌ V ÊV À« À>Ì ° Ê UÊ ÀiÃÌ> Ê ÕiV Ê-° ° Ê Ê Ê Ûi LiÀÊÓääÎ]Ê «ÀiÃ>ÃÊ * Ê-° °Ê> `ÊÃÕLà ` >À iÃÊ«ÕÀV >Ãi`Ê£ää¯Ê vÊ Ü iÀà «Ê Ê ÀiÃÌ> Ê ÕiV Ê-° °Ê ÊÌ iÊ> Õ ÌÊ vÊ/ fÊ£Î]äÓÇ]ÇnÈÊ Ê/ 1-fÊÓ£] {ä°Ê / ÃÊ «iÀ>Ì Ê}i iÀ>Ìi`Ê>Ê i}>Ì ÛiÊ} `Ü Ê>ÌÊÌ iÊ`>ÌiÊ vÊ>VµÕ Ã Ì Êv ÀÊ> Ê> Õ ÌÊ vÊ/ fÊx]È Ç]{{nÊ Ê/ 1-fÊ ]x xÊ ÃÌ À V®° Ê Ê / iÊ «> Þ½ÃÊv ÀiÃÌÊÜi> Ì Ê> Õ ÌÃÊÌ Ê£ä]äääÊ iVÌ>ÀiÃÊÜ Ì ÊiÕV> Þ«ÌÕÃÊ> `ÊÀ>` >Ì>Ê« iÊ« > Ì>Ì Ã° Ê UÊ i >Ê`iÊ `i>` ÃÊ-° ° Ê Ê ÕÀ }Ê >ÞÊÓääÎ]Ê * Ê*À `ÕVÌ ÃÊ`iÊ*>«i Ê-° °«ÕÀV >Ãi`Ê£Ó°Ó ¯Ê vÊà >ÀiÃÊ Ê Ã>ÊvÀ ÊÌ À`Ê«>ÀÌ iÃÊ Ê/ fÊ ]ÓÓÓÊ Ê/ 1-fÊ£]ÈnÎÊ ÃÌ À V> ÊÛ> Õi®° Ê Ê iv ÀiÊÌ ÃÊÌÀ> Ã>VÌ ]Ê * Ê*À `ÕVÌ ÃÊ`iÊ*>«i Ê-° °Êà `Êä°£¯Ê Ü iÀà «Ê Ê Ã>ÊÌ Ê ÛiÀà iÃÊ * Ê-° °Ê Ê Ê / À Õ} ÊÌ ÃÊÌÀ> Ã>VÌ ]Ê * Ê*À `ÕVÌ ÃÊ`iÊ*>«i Ê-° °Ê >ÃÊ>Ê ° ¯Êà >Ài ` }Ê Ê Ã>° Ê UÊ Û `i `Ê*>Þ i Ì Ê Ê ÕÀ }ÊÓää{Ê> `ÊÓääÎÊ>ÌÊ ÃÌ À VÊÛ> ÕiîÊÌ iÊv Ü }ÊV «> iÃÊ«> `Ê` Û `i `ð Ê
Ê
Ê
Ê
Óää{Ê
Ê
Ê
Ê
Ê
Ê
/ fÊ
Ê
Ê/ 1-fÊ
/ fÊ
ÓääÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊ/ 1-f
* Ê i Õ Ã>Ê-° °Ê
Çä]ΣÈ]ÎÇäÊ
£ÓÈ]£x£Ê
x ] {£] ÎäÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ n]{n{
* Ê*>«i iÃÊ-° °Ê
Ón]££x]ΣÎÊ
xä]{{äÊ
£È]äÎx]äÇnÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓÈ]Î{È
ÛiÀÃ iÃÊ * Ê-° °Ê
£È]{ää]äääÊ
Ó ]{ÓÓÊ
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ
* Ê*À `ÕVÌ ÃÊ`iÊ*>«i Ê-° °Ê
££]{ää]äääÊ
Óä]{xÓÊ
£x]£Î ]ÓäxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó{]nÇ{
* Ê/ ÃÃÕiÊ-° °Ê
Ê{]Óää]äääÊ
Ç]xÎxÊ
Ó£]äää]äääÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î{]xäÎ
ViV À«Ê-° °ÊÊ
{Ó£]xÎÇÊ
ÇxÈÊ
{Ó ]ÎÎÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Çäx
ÛiÀÃ iÃÊ Ê,>Õ Ê-° °Ê
Î È]Î nÊ
Ç££Ê
xÈä] ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓÓ
Ç
"/ -Ê/"Ê/ Ê " -" / Ê Ê-/ / / ÌÊ`iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ/À> à >Ì Ê vÊÌ iÊ À } > Ê Ê-«> à ®
L®Ê Ài } ÊÃÕLà ` >À iÃ Ê UÊ À}i Ì > Ê Ê ÛiÃÌ i ÌÊ ÊÌ iÊ «> ÞÊÌ À Õ} ÊÃÕLà ` >À iÃÊ Ê À}i Ì iÊ> Õ ÌÊÌ Ê/ fʣΠ]ÈÇÈ]Ó ÈÊ Ê/ 1-fÊÓxä]xnxÊ Ê>VV À`> ViÊÜ Ì Ê ÌÃÊiµÕ ÌÞÊÛ> ÕiÊ>ÌÊ iVi LiÀÊΣ]Ê Óää{]Ê> `ÊÌ Ê/ fÊ£x£]xnÈ] ÇnÊ Ê/ 1-fÊÓ{ ]äxÈÊ>ÌÊ iVi LiÀÊΣ]ÊÓääΰ Ê Ê -> iÃÊLÞÊÌ iÊ>v Ài i Ì i`ÊV «> iÃÊ> Õ ÌÊÌ Ê/ fÊÈÈ]ÈÇ£]ÇÓ Ê Ê/ 1-fÊ££ ]È£ÓÊ ÊÓää{Ê> `Ê/ f]ÊÈx]Σ ]£ÇÎÊ Ê/ 1-fÊ£äÇ]Σ Ê ÊÓääΰ Ê UÊ 1ÀÕ}Õ>Þ Ê Ê ÛiÃÌ i ÌÊ vÊÌ iÊ «> ÞÊ Ê1ÀÕ}Õ>ÞÊ> Õ ÌÊÌ Ê/ fÊx]ÈxÓ]ääÎÊ / 1-fÊ£ä]£{äÊ>ÌÊ iVi LiÀÊΣ]ÊÓää{Ê> `ÊÌ Ê/ fÊx]äÓÇ]x äÊ Ê/ 1-fÊn]ÓÈäÊ>ÌÊ iVi LiÀÊΣ]Ê Óääΰ Ê Ê -> iÃÊ> Õ ÌÊÌ Ê/ fÊ££]ÇÈ£]È ÇÊ / 1-fÊÓ£]£ä£Ê ÊÓää{Ê> `ÊÌ Ê/ fÊ£ä]xÇ{]x nÊ / 1-fÊ£Ç]ÎÇ{Ê ÊÓääΰ Ê Ê / iÊivviVÌÃÊ Ê V iÊÀiÃÕ Ì }Êv Ài } ÊiÝV > }iÊ}> ÃÊ ÃÃiîÊv ÀÊÌ iÃiÊ ÛiÃÌ i ÌÃÊ>ÀiÊL>à V> ÞÊ}i iÀ>Ìi`Ê ÊÌ iÊÌÀ> à >Ì ÊÌ Ê` >ÀÃÊ vÊÌ iÊ À}i Ì iÊÃÕLà ` >À iÃ½Ê >ÃÃiÌÃÊ> `Ê >L Ì iÃ]Êv ÀÊÌ i ÀÊ V À« À>Ì Ê Ì ÊÌ iÊw > V > ÊÃÌ>Ìi i ÌÃÊ vÊ «ÀiÃ>ÃÊ * Ê-° °Ê Ê UÊ * Ìi Ì > Ê V iÊvÀ ÊÀi ÌÌ> Vi Ê Ê ÌÊ ÃÊ ÌÊiÝ«iVÌi`ÊÌ >ÌÊÌ iÊ > Ê «> ÞÊÜ ÊÀiVi ÛiÊ V iÊvÀ ÊÌ iÊ«À `ÕVÌ ÛiÊv Ài } ÊÃÕLà ` >À iÃÊ ÊÌ iÊà ÀÌ ÌiÀ ° Ê Ê * Ìi Ì > Ê V iÊvÀ ÊÀi ÌÌ> ViÊLÞÊv Ài } ÊÃÕLà ` >À iÃÊ ÃÊ>ÃÊv ÜÃ\ Ê
/ fÊ
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ / 1-f
/ ÃÃÕiÊ >Þ > Ê Ì`°Ê
Ç]Ó{Ç]nÓnÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £Î]ääÎ
*>«i iÀ>Ê`i Ê, >VÊ-° ° Ê*iÀÖÊ
£]ÇÈ{]n ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î]£ÈÈ
ÀÃ>VÊ*iÀÖÊ-° °Ê
£]£nÇ]ÇÈ£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]£Î£
*À «>Ê >Þ > Ê Ì`°Ê
nx£]xnÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]xÓn
*À Ì Ã>Ê-° °Ê Ê*iÀÖÊ
ÇxÓ]£ä{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]Î{
* Ê ÕÀ «iÊ Ì`°Ê
xxÓ]x£nÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £
`ÕÃÌÀ >Ê*>«i iÀ>Ê1ÀÕ}Õ>Þ>Ê-° °Ê
Ó{ ]ÓÎ{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {{Ç
V®Ê >L Ì iÃÊ i `Ê> `Ê>VV Õ Ìi`Êv ÀÊ>ÃÊ i`}iÊ ÃÌÀÕ i Ìà Ê
ÛiÀà iÃÊ * Ê-° °Ê >ÃÊiÃÌ>L à i`Ê i`}iÊ ÃÌÀÕ i ÌÃÊv ÀÊ ÛiÃÌ i ÌÃÊ Êv Ài } ÊV «> iÃ]Ê/ iÃiÊ ÃÌÀÕ i ÌÃÊ V Õ`iÊ } ÌiÀ Ê >L Ì iÃÊ Ê1-Ê` >ÀÃ]ÊÀi«ÀiÃi Ìi`Ê LÞÊÌ iÊ `Ê ÃÃÕi`Ê>LÀ >`Ê Ê£ nÊv ÀÊ1-fÊÓxäÊ ]Ê>ÃÊÀiµÕ Ài`ÊÕ `iÀÊÌ iÊ1 Ìi`Ê-Ì>ÌiÃÊ-iVÕÀ Ì iÃÊ VÌÊ ÌiʣȮÊ,Õ iÊ£{{>]Ê> `Ê>Ê« ÀÌ Ê vÊÌ iÊ } ÌiÀ ÊÃÞ ` V>ÌiÊ > ÃÊvÀ Ê 6 Ê-° °Êv ÀÊ1-fÊnxÊ ]Ê1-fÊ{ÇxÊ ÊvÀ Ê ÀiÃ` iÀÊ > Ê ÕÝi LÕ À}Ê-° °
n
ä
`®Ê *>ÌÀ > ÊÛ> ÕiÊ`i ÃÌÀ>Ì Ê ViV À«Ê-° ° Ê
Ê6> ÕiÊΣÉänÉÓää{Ê
Ê
/ fÊ
µÕ ÌÞÊ
Ê
Õ LiÀÊ vÊÃ >ÀiÃÊ i `Ê >À iÌÊÛ> ÕiÊLÞÊÃ >ÀiÊ
` ÕÃÌ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ >À iÌÊ6> Õi
/ 1-f ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ / fÊ
/ 1-fÊ
{]xÈ£] äÎÊI®Ê
/ fÊ
/ 1-f
ÓÓ{] {ä] {£Ê
{äÎ]xx{Ê
n]£n{Ê
ÓÓ ]xäÓ]n{{Ê
{££]ÇÎn
ÇÈ]xää] {nÊ
£ÎÇ]Ó{ÈÊ
ÇÈ]xää] {nÊ
£ÎÇ]Ó{ÈÊ
ÊÇÈ]xää] {nÊ
£ÎÇ]Ó{È
Ó] {äÊ
xÊ
ÈäÊ
Ê
Î]äääÊ
x°{
"Ü iÀà «Ê Ê- >Ài `iÀÃ½Ê µÕ ÌÞʺv> ÀÊÛ> Õi»Ê ä°äΣxnÓȯ®Ê Ê
Ê
Ê
Ê
Ê
ÇÓ]{nÎÊ
£Îä
ÛiÃÌ i ÌÊ>ÌÊÀiÃÌ>Ìi`ÊiµÕ ÌÞÊÛ> ÕiÊ
Ê
Ê
Ê
Ê
ÇÎ]ÓänÊ
£Î£
Ê
Î]{ÓÓÊ
È
VVÀÕi`ÊÀiÃÕ ÌÊ>ÃÊ vÊ iVi LiÀÊΣ]ÊÓää{\ Ê
Ê
Ê
Ê
/ f
*À wÌÊ>ÃÊ«iÀÊL> > ViÊÃ iiÌÊ vÊ ÃÃÕiÀÊ
Ê
Ê
VVÀÕi`ÊÀiÃÕ ÌÊ Ê
Ê
Ê
£ä]nÎÎ]ÈxÓÊII®Ê
£ ]{ÎÈ
,iÃiÀÛiÃÊ ÛiÀÊ ÃÃÕiÀÊ
Ê
Ê
6*Ê ÛiÀÊÀiÃiÀÛiÃÊÊ
Ê
Ê
Ê
Ê
£]ä {Ê
Ó
ÛiÃÌ i ÌÊ>ÌÊiµÕ ÌÞÊÛ> ÕiÊ>ÃÊ vÊ iVi LiÀÊΣ]ÊÓää{Ê
Ê
Ê
Ê
Ê
ÇÇ]ÇÓ{Ê
£Î
ÊÊ Î]{ÈÎ] ÎÓÊIII®Ê
È]Ó£{
I®Ê
/ iÊ «> ÞÊ«iÀv À i`Ê>ÊÃÌÕ`ÞÊÀi}>À` }ÊÌ ÊÌ iÊ >À iÌÊÛ> ÕiÊ vÊÌ iÊà >ÀiÃÊ vÊ ViV À«Ê-° °]ÊÜ V ÊÀiÃÕ Ìi`Ê Ê>ÊÛ> ÕiÊ vÊ fÊÎ]äääÊ«iÀÊà >Ài°
Ê
7 Ì ÊÀi}>À`ÊÌ ÊÌ iÊ>` ÕÃÌ i ÌÊÌ Ê >À iÌÊÛ> Õi]Ê ÌÊ >ÃÊLii Ê>ÃÃ } i`ÊÌ ÊÌ iÊ ÛiÃÌ i ÌÊ ViV À«Ê-° °Ê `ÃÊ Ê > V Ê Vi]ÊÜ V ÊÜ ÊLiÊÀiÛiÀÃi`Ê>VV À` } Þ]Ê>ÃÊÀiµÕ Ài`Ê LÞÊÃÕV ÊÛ> Õ>Ì °
II®Ê *À wÌÊV ÀÀië ` }ÊÌ Ê«iÀ `Ê-i«Ìi LiÀÊ Ê iVi LiÀÊÓää{° III®Ê > }iÃÊ ÊÀiÃiÀÛiÃÊV ÀÀië ` }ÊÌ ÊÌ iÊ«iÀ `Ê-i«Ìi LiÀÊ Ê iVi LiÀÊÓää{°
n
£
"/ -Ê/"Ê/ Ê " -" / Ê Ê-/ / / ÌÊ`iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ/À> à >Ì Ê vÊÌ iÊ À } > Ê Ê-«> à ®
ÛiÃÌ i ÌÃ\ Ê Ê />ÝÊ Õ LiÀÊÊ
Ê Ê
«> ÞÊ
Ê Ê
Õ ÌÀÞÊ
Ê
ÌÀ Ê VÕÀÀi VÞÊ
Ê
Ê
nx°Ç{£°äää Ê È°n x°ÈÈä {Ê nÈ°nxÈ°£ää Ê
- V i`>`Ê `À i jVÌÀ V>Ê Ê i V Ì Ê Ì`>°Ê
iÊ
È°ÈxÇ° ää xÊ
ÌÀ >` À>Ê`iÊ* >}>ÃÊ ÀiÃÌ> iÃÊ-° °Ê
iÊ
nx°Ç{£°äää Ê
ViV À«Ê-° °Ê
iÊ
*ià ÃÊ
Ê
/ Ì> Ê
Ê
Ê
/ 1-fÊ
Ê
Ê Õ LiÀÊ vÊ Ã >ÀiÃÊ i `Ê
Ê
Ê
Ê
ViV À«Ê-° °Ê
iÊ
*ià ÃÊ
È]xx ]xnäÊ
ÛiÀÃ iÃÊ Ê,>Õ Ê-° °Ê
iÊ
*ià ÃÊ
È]£È{]nÓÈÊ
*ià ÃÊ
Ê
*ià ÃÊ
Ó] ä£Ê
Ê ` }Ê ¯Ê Óää{Ê
Ê µÕ ÌÞÊ / fÊ ÓääÎÊ
Óää{Ê
ÓääÎÊÊ
n°xÇ{x£Ê
n°xÇ{{{Ê
Ó{£]È È]È ÈÊ
£xÇ]xÇÈ]ÇÇ{Ê
În°ÇÇÓ{ Ê
În°ÇÇÓ{ Ê
£{]ÇÈä] xÇÊ
£{]Çä{]ÓäÓÊ
Óx°äääääÊ
Óx°äääääÊ
£]xÓÈ]{nÇÊ
£]xÓÈ]{n Ê
Ó °ä£äääÊ
Ó °ä£äääÊ
ÓÓÇ]ÎxÇÊ
Óxx]Ç ÇÊ
Ó{]£È£Ê
ä°äΣxnÊ
ä°äääääÊ
Ó{£]È È]È ÈÊ
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
"/ Ê£ÎÊ Ê "" 7 Ê Ê / 6 Ê "" 7 `Ü Ê> `Ê i}>Ì ÛiÊ} `Ü Ê>ÀiÊ> ÀÌ âi`Ê Ê>Ê«iÀ `Ê vÊÓäÊÞi>ÀÃÊV à `iÀ }ÊÌ iÊÕÃivÕ Ê viÊ vÊ `ÕÃÌÀ > Ê« > ÌÃÊ> `Ê«iÀ `ÃÊ vÊ}À ÜÌ Ê> `ÊÀi « > Ì>Ì Ê Û Ûi`Ê ÊÌ iÃiÊ `ÕÃÌÀ > Ê>VÌ Û Ì ið " Ê >ÞÊΣ]ÊÓää{]Ê ÀiÃÌ> ÊÞÊ }À V >Ê ÌiÊ }Õ >Ê-° °]ÊÌÀ> ÃviÀÀi`Ê£x]{xÈÊ iVÌ>ÀiÃÊÌ Ê ÃµÕiÃÊ À>ÕV Ê-° °]Ê>ÊÃÕLà ` >ÀÞÊ vÊ i Õ Ã>Ê À>ÕV ÊÞÊ ÃÌ ÌÕV Ê-° °Ê ÃÊ>ÊÀiÃÕ Ì]Ê Ì iÊL> > ViÊ vÊ i}>Ì ÛiÊ} `Ü ÊV }ÊvÀ ÊÌ iÊÀiV À` }Ê vÊÌ iÊ>VµÕ Ã Ì Ê vÊÌ iÊ «> ÞÊÜ>ÃÊ>L>Ìi`ÊLÞÊ/ fÊn]ä£{]ÈnÇÊ Ê/ 1-fÊ£{]ÎÇ ]Ê> Ê> Õ ÌÊÀiviÀÀ }ÊÌ ÊÌ iÊ ,iÃiÀÛiÊv ÀÊÀiÛ> Õ>Ì Ê vÊÌ iÊÌÀ> ÃviÀÀi`Ê« > Ì>Ì Ã° / iÊÀi > }Ê Ì ÃÊ>Ài\ Ê Ê Ê Ê Ê
i}>Ì ÛiÊ} `Ü ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ì
* Ê/ ÃÃÕiÊ-° ° ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ÓÇ ÀiÃÌ> ÊÞÊ }À V >Ê ÌiÊ }Õ >Ê-° ° ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó£ ÀiÃÌ> Ê ÕiV Ê-° ° ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓÓÇ
i >Ê`iÊ `i>` ÃÊ-° ° ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓÓ£
Ê `Ü Ê Ê Ê Ê Ê Ê Ê Ê Ê
* Ê i Õ Ã>Ê-° °ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £È >Ê*>«i iÀ>Ê`i Ê* >Ì>Ê-° ° ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ÎÈ
* Ê/ ÃÃÕiÊ-° ° ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £xÇ *À «>Ê-° °ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £xÈ - V i`>`Ê >Ê }À «iVÕ>À >Ê{ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ £ ÀiÃÌ>` À>Ê >>L Ê* À>Ê-° ° ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ÈÇ >ÃiÀÀ Ê-° ° ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ÈÇ
i >Ê`iÊ `i>` ÃÊ-° ° ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £n£ Û>ÃiÃÊ, L iÊ Ì Ê-° °ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £
n
Ó
µÕ ÌÞÊ vÊ «> ÞÊ iÌÊ V iÊ / fÊ
µÕ ÌÞÊ vÊ «> iÃÊ>ÌÊÊ v> ÀÊÛ> ÕiÊ / fÊ Óää{ÊÊ
V iÊ>ÌÊ > ÀÊÛ> ÕiÊ / fÊ
Óää{Ê
ÓääÎÊÊ
ÓääÎÊ
Ó{]x£ä]äÎnÊ
£È]Ç È]È£ÓÊ
Ê
Ê
£]ä Ó]ÎxäÊ
Ç{]ÇÎÈÊ
Ê
Ê
Óää{ÊÊ
- >ÀiÊ vÊ V i ÃÃ®Ê / fÊ
ÊÛ> ÕiÊ vÊÊ ÛiÃÌ i ÌÃÊÊ / fÊ
ÓääÎÊ
Óää{Ê
ÓääÎÊ
Óää{ÊÊ
Ê
Ê
Ó]£ä£]È£ÈÊ
£]{{ä]Ó£xÊ
Óä]ÇÓ{]ÎäÇÊ
Ê
Ê
{ÓÎ]xΣÊ
ÎÇÇ] Ó Ê
x]ÇÓÎ]£ £Ê
iÌÊL ÊÛ> Õi vÊ ÛiÃÌ i Ìà / f ÓääÎÊÊ
Óää{Ê
ÓääÎ
£Î]x££]ÎÓÈÊ
Óä]ÇÓ{]ÎäÇÊ
£Î]x££]ÎÓÈ
x]Çä£]£nxÊ
x]ÇÓÎ]£ £Ê
x]Çä£]£nx
Ó®Ê
xÊ
Ê
Ê
Ê
Ê
£®Ê
£Ê
În£]ÈÓÓÊ
În£]ÈÓÓÊ
În£]ÈÓÓÊ
În£]ÈÓÓ
Ón]{Î ®Ê
{Î]ä£ ®Ê
Ê
Ê
Ê
Ê
n]Óxä®Ê
£Ó]{Ç ®Ê
Èx] xÈÊ
Ç{]ÓäÇÊ
Èx] xÈÊ
Ç{]ÓäÇ
Ê Ó{È]££Ç]xÈäÊ
Ê
Ó{]x£ä]äÎnÊ
Ê
Î]{ÓÓÊ
Ê
ÊÇÇ]ÇÓ{Ê
Ê Ê
ÊÇÇ]ÇÓ{Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
ÓÈ] ÇÓ]nääÊ
£ ]ÈÈn]Î{äÊ
ÓÈ] ÇÓ]nääÊ
£ ]ÈÈn]Î{ä
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
{n]Î äÊ
ÎÓ]ΣxÊ
{n]Î äÊ
ÎÓ]Σx
> > ViÊ>ÌÊ iVi LiÀÊΣ]Ê
Ó{]x£ä]äÎnÊ
>®Ê `Ü Ê
Ê
Ê
Ê
Ê
Ê Ê
Ê Ê
Ê Ê
Ê Ê
Óää{Ê / fÊ
Ê Ê
Ê Ê
Ê Ê
ÀÌ âi`Ê> Õ ÌÊ Ê `ÕÀ }ÊÌ iÊÞi>ÀÊ Ê
Ê Ê
Ê Ê
ÓääÎ / f
Ê iÌÊ> Õ ÌÊ
ÀÌ âi`Ê> Õ Ì `ÕÀ }ÊÌ iÊÞi>ÀÊ ÊÊÊÊÊÊÊÊ iÌÊ> Õ Ì
* Ê i Õ Ã>Ê-° °Ê
Ó]ÓÎÓ]ä ÓÊ
Ó ]äΣ]£ Ê
Ó]ÓÎÓ]ÈxÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î£]ÓxÈ]Çä
>Ê*>«i iÀ>Ê`i Ê* >Ì>Ê-° °Ê
£]Ó{ ]{ÎnÊ
£{]£ÓÈ]n{xÊ
£]ÎÈ{]ÎäÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £È]Ç Ó]£xÎ
* Ê/ ÃÃÕiÊ-° °Ê
În ]nÈäÊ
x]äÇä]ÈÓÓÊ
În ] xnÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ x]{x ]ÎÎÎ
*À «>Ê-° °Ê
Óxx]nÓÈÊ
Î]ÎÓÇ]Îx£Ê
Óxx]n £ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î]xnÓ]{ÓÎ
Ê
- V i`>`Ê >Ê }À «iVÕ>À >Ê{ Ê
£Ón]ÎÇÇÊ
£]Ç x]n{ÓÊ
£{ä]ÓΣÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]£ää]nÈÓ
i >Ê`iÊ `i>` ÃÊ-° °Ê
£Óä]È {Ê
£]n{ ]nÎÓÊ
£ÓÓ]xnÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £] Ç£] ä
n]È xÊ
£]ÈÈÎ]£ä{Ê
£ää]Ó{{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]ÇÈÓ] x
ÀiÃÌ>` À>Ê >>L Ê* À>Ê-° °Ê
Ó]ÇnÈÊ
£]{ÇÈ]x{xÊ
£ä£]ÎäÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]x££]näÇ
>ÃiÀÀ Ê-° °Ê
Ê
Êx£]Ó{ Ê
ÊÇ£{] ÇxÊ
Êxx]ÇÈ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊnÎÇ]ä ä
/ Ì> Ê
Ê
{]È£ ]ä£ÇÊ
x ]äxÈ]ΣxÊ
{]ÇÈÓ] {ÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Èx]ÓÇx]ÎÓÈ
/ 1-fÊ
Ê
n]ÓnÇÊ
£äx] xäÊ
Ç]nÓxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £äÇ]Ó{Ç
Û>ÃiÃÊ, L iÊ Ì Ê Ì`>°Ê
L®Ê i}>Ì ÛiÊ} `Ü Ê
Ê
Ê
Ê
Ê
Ê Ê
Ê Ê
Ê Ê
Ê Ê
Óää{Ê / fÊ
Ê Ê
Ê Ê
Ê Ê
ÀÌ âi`Ê> Õ ÌÊ Ê `ÕÀ }ÊÌ iÊÞi>ÀÊ Ê
> > ViÊ>ÌÊ iVi LiÀÊΣ]Ê Ê Ê
Ê Ê
ÓääÎ / f
Ê iÌÊ> Õ ÌÊ
ÀÌ âi`Ê> Õ Ì `ÕÀ }ÊÌ iÊÞi>ÀÊ ÊÊÊÊÊÊÊÊ iÌÊ> Õ Ì
ÀiÃÌ> ÊÞÊ }À V >Ê ÌiÊ }Õ >Ê-° °Ê
{Î]Îx£Ê
£Î]n{ ]{{ÈÊ
Ón]££ÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓÎ]äxÈ]x£n
ÀiÃÌ> Ê ÕiV Ê-° °Ê
Ó £]ä{ Ê
x]xän]ÎÎÈÊ
Ó{]Óä ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ x]Ç n]£äx
* Ê/ ÃÃÕiÊ-° °Ê
{ ]{ äÊ
x]Ónn]n£ Ê
{ ]È£ÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ x]ÇnÇ]£Îä
Óä]ÇÈÎÊ
Înn]x{ Ê
£Ó]ÎÎÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {ä ]x{È
ÓÎä]ÎnÎÊ
Ê Ê
ÊÎäÇ]ÎÓ£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÓÎä]{{
i >Ê `i>` ÃÊ-° °Ê ViV À«Ê-° °Ê ÊÊ / Ì> Ê
Ê
£] nx]äÎÈÊ
Óx]äÎx]£xäÊ
£]ÇÇ£]x ÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Îx]Ón£]Ç{n
/ 1-fÊ
Ê
Î]xÈ£Ê
{{] £{Ê
Ó] ££ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ xÇ] Èn
n
Î
n
{
Ê
Ê
Ê
> V Ê ViÊ > V Ê Àj` Ì Ê`iÊ*iÀÖÊ *Ê À}> Ê >ÃiÊ > Ê > V Ê Ài` Ì Ê ÛiÀÃ iÃÊ iÀ V> Ê Ý«ÀiÃÃÊ > Ê Ì`>]Ê > V Ê iÊ > V Ê-> Ì> `iÀÊ-> Ì >} Ê / Ì> Ê / 1-fÊ *À V «> Ê ÕÌÃÌ> ` }Ê / 1-fÊ ÛiÀ>}iÊ> Õ> Ê ÌiÀiÃÌÊÀ>ÌiÊ
Ê
Ê
Ê Ê ÃÌ ÌÕÌ Ê
Ê Ê
Ó]£ £]Î xÊ {ÎÓ]nÇäÊ £nx]È£äÊ ££ ]{££Ê nn]xÇ{Ê nÈ]ÈäÈÊ Èä]Ç£ÈÊ Ê Ê Ê Î]£Èx]£nÓÊ x]ÈÇnÊ Ê Ê Ê
/ Ì> Ê Ê V> ÊVÕÀÀi VÞʯ®ÊÊ
> V Ê L> Ê6 âV>Þ>Ê À}Ê ] À ÊEÊ ] Ê1]-° °Ê *Ê*>À L>ÃÊ -> Ì> `iÀÊ ]-] ] Ê - V iÌiÊ i iÀ> iÊ ]*]Ê À}> Ê >ÃiÊ > Ê
Àià iÀÊ > Ê ÕÝi LÕÀ}Ê
Ì L> Ê ° °Ê / Ì> Ê / 1-fÊ *À V «> Ê ÕÌÃÌ> ` }Ê / 1-fÊ ÛiÀ>}iÊ> Õ> Ê ÌiÀiÃÌÊÀ>ÌiÊ
Ê Ê £x ] Ç£Ê Ê Ê Ê Ê Ê £x ] Ç£Ê ÓnÇÊ £x ] Ç£Ê ÓnÇÊ Ê
Óää{Ê
/ Ì> Ê Êv Ài } ÊVÕÀÀi VÞʯ®Ê
Ài } Ê Ài } Ê Ài } Ê Ài } Ê Ài } Ê Ài } Ê Ài } Ê Ài } Ê Ài } Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê
- ÀÌÊÌiÀ Ê« ÀÌ Ê vÊ } ÌiÀ Ê >L Ì iÃÊÌ ÊL> Ã
Ç°änä°äää Ê Ài } Ê Ài } Ê Ç°ääÈ°äää ÈÊ Ài } Ê Ç°ää{°äää xÊ Ç°ä£x°äää xÊ Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê
- ÀÌ ÌiÀ
Ê
Ê
Ê Ê Ê/>ÝÊ Õ LiÀ Ê
>L Ì iÃÊÌ ÊL> ÃÊ> `Êw > V > Ê ÃÌ ÌÕÌ ÃÊ ÊÃ ÀÌ ÌiÀ
"/ Ê£{Ê Ê- ",/Ê / , Ê Ê / -
/ fÊ
Ê Ê
>ÀÃÊ
£n°£{ÎίÊ
n£°nxÈǯ
Ê Ó ]Îä{Ê Ê Ê Ê Ê Ó ]xnÇÊ £n]xÇn]ä{ÎÊ Ên]În ]ÓÈÓÊ ÓÇ]Ó È]£ ÈÊ {{]n{nÊ ÓÈ]ÈÓn]Ó£ Ê {Î]ÇxäÊ £°Ç{Σ¯
Ê Î x]{£äÊ Ê Ê Ê Ê Ê Ê Î x]{£äÊ ÈxäÊ Î ä]Çx£Ê È{ÓÊ £° ¯Ê
ÓääÎÊ
Ê
Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê
Ê xäÈ]£näÊ Ê Ê Ê Ê Ê Ê xäÈ]£näÊ änÊ xäÈ]£näÊ änÊ {°Ó¯Ê
Óää{Ê
Ê
Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê
Ê Ç{Î]ÈxÎÊ Ê Ê Ê Ê Ê Ê Ç{Î]ÈxÎÊ £]ÓÓÓÊ Ç{Î]ä{ÇÊ £]ÓÓ£Ê Î°È¯Ê
Ê
Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê
Ê
Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê
£]£È£]£Ç Ê Ê Ê Î]xxxÊ £äÓ]ä {Ê £]Ó {Ê Ê{£ÓÊ £]ÓÈn]xÎ{Ê Ó]än{Ê £]ÓÈn]xÎ{Ê Ó]än{Ê Ê
Óää{ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎÊ
`iÝi` V i> Ê«ià ÃÊ / fÊ
n{n]Îä Ê Ê Ê n ÇÊ Ê Ê Ê Ê n{ ]ÓäÈÊ £]xÓ{Ê n{ ]ÓäÈÊ £]xÓ{Ê Ê
i >Ìi`Ê
ÓääÎÊ
"Ì iÀÊ v Ài } ÊVÕÀÀi V iÃÊ / fÊ
Ê
Ó]£ £]Î xÊ {ÎÓ]nÇäÊ £nx]È£äÊ ££ ]{££Ê nn]xÇ{Ê nÈ]ÈäÈÊ Èä]Ç£ÈÊ Ê Ê Ê Î]£Èx]£nÓÊ x]ÈÇnÊ Ê Ê
n{n]Îä Ê xäÈ]£näÊ £x ] Ç£Ê n ÇÊ Ê Ê Ê Ê £]x£x]ÎxÇÊ Ó]Ç£ Ê £]x£x]ÎxÇÊ Ó]Ç£ Ê Ê
Óää{Ê
/ Ì> / f
Ó ]Îä{ Ó ]xnÇ £n]xÇn]ä{Î Ên]În ]ÓÈÓ ÓÇ]Ó È]£ È {{]n{n ÓÈ]ÈÓn]Ó£ {Î]Çxä
£]£È£]£Ç £]£Î ]äÈÎ Î]xxx £äÓ]ä { £]Ó { Ê{£Ó Ó]{äÇ]x Ç Î] xÈ Ó]{äÓ]ÎÎÓ Î] {Ç
ÓääÎ
ÌÊ`iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ/À> à >Ì Ê vÊÌ iÊ À } > Ê Ê-«> à ®
"/ -Ê/"Ê/ Ê " -" / Ê Ê-/ / /-
"/ Ê£xÊ Ê " / , Ê Ê / Ê-i«Ìi LiÀÊÓää{]Ê ÛiÀà iÃÊ * Ê-° °]ÊÌ À Õ} Ê ÌÃÊ>}i VÞÊ ÊÌ iÊ >Þ > Ê Ã > `Ã]Ê LÌ> i`Ê>ÊÃÞ ` V>Ìi`Ê > Ê> Õ Ì }ÊÌ Ê1-fÊ{ÇxÊ Ê>ÌÊ>Ê L ÀÊÀ>ÌiÊ« ÕÃÊ>Ê >À} Ê vÊä°ÓÓx¯°Ê-ÕV Ê >À} }Ê VÀi>ÃiÃÊÌ Êä°Óx¯ÊvÀ ÊÌ iÊÌ À`Ê> ÛiÀÃ>ÀÞÊ vÊÌ iÊ > °Ê ÌÊ ÃÊ> ÀÌ âi`Ê Êv ÕÀÊ«>Þ i ÌÃÊÃÌ>ÀÌ }Ê Ê iVi LiÀÊÓääÈÊÕ Ì Ê-i«Ìi LiÀÊÓää ]Ê> `Ê Ì iÊ > V Ê L> Ê6 âV>Þ>Ê À}i Ì>À >Ê-° °Ê>VÌÃÊ>ÃÊÌ iÊ > } }Ê }i Ì° / ÃÊ ÃÊÌ iÊ ÞÊVÕÀÀi ÌÊÃÞ ` V>Ìi`Ê > Ê vÊÌ iÊ «> Þ]Ê} Ûi ÊÌ >ÌÊÌ iÊÀi > }Ê iÃÊÜiÀiÊ«Ài«> `Ê`ÕÀ }ÊÌ iÊÌ À`ʵÕ>ÀÌiÀÊ vÊÓää{° / ÃÊ > Ê Û ÛiÃÊV « > ViÊ vÊViÀÌ> Êw > V > Ê ` V>Ì ÀÃÊV Ûi > ÌîÊv ÀÊ «ÀiÃ>ÃÊ * Ê-° °]ÊÜ V Ê>ÀiÊi>à ÞÊV « i`ÊÜ Ì Ê>ÌÊi>V ÊÞi>ÀÊi `]Ê> `ÊÜ V ÊÀiviÀÊÌ Ê > Ì> }Ê >Ê Õ ÊiµÕ ÌÞ]Ê>Ê >Ý Õ Ê iÛiÀ>}iÊ> `Ê>Ê Õ ÊV ÛiÀ>}iÊ vÊw > V > ÊiÝ«i Ãið ÌiÀiÃÌÊÀ>ÌiÊ-Ü>«Ã Ê-i«Ìi LiÀÊÓää{]Ê ÛiÀà iÃÊ * ÊÀiÃV i`Õ i`ÊÌ iÊV ÌÀ>VÌÃÊi ÌiÀi`Ê Ì Ê Ê iVi LiÀÊÓääÓ]ÊÃÜ }ÊÌ ÊÌ iÊÃÞ ` V>Ìi`Ê > Ê vÊ1-fÊ£ÓxÊ ÊÌ Ê>` ÕÃÌÊÌ i ÊÌ ÊÌ iÊÃV i`Õ iÊ vÊ«>Þ i ÌÊ vÊÌ iÊwÀÃÌÊÌ ÀiiÊ> ÀÌ â>Ì Ê vÊÌ iÊÃÞ ` V>Ìi`Ê > Ê vÊ1-fÊ{ÇxÊ ]Ê> ÀÌ â>Ì ÊÌ Ì> }Ê1-fÊ£ÓxÊ ° - >À Þ]Ê Ê-i«Ìi LiÀÊÓää{ÊÌ iÊ`iÀ Û>Ì ÛiÃÊV ÌÀ>VÌÃÊÃÕLÃVÀ Li`ÊÜ Ì Ê>Ê Õ LiÀÊ vÊL> ÃÊ`ÕÀ }Ê Õ}ÕÃÌÊÓää{ÊV> iÊ Ì Êv ÀVi]ÊÌ ÊV ÛiÀÊÌ iÊÀi > }Ê1-fÊÎxäÊ Ê vÊÌ iÊ ÃÞ ` V>Ìi`Ê > Ê vÊ1-fÊ{Çx° / iÊV L >Ì Ê vÊÃÜ>«ÊV ÌÀ>VÌÃÊ> ÜÊÌ ÊwÝÊÌ iÊ L ÀÊÀ>Ìi]Ê>ÃÊÜi Ê>ÃÊiÃÌ>L à ÊÀ> }iÃÊv ÀÊÜ V ]Ê ÛiÀà iÃÊ * Ê-° °Ê>}> Ê >ÃÊ>ÊÃV i iÊ vÊÛ>À >L iÊÀ>ÌiÊv ÀÊÌ iÊÃ> `Ê ÃÞ ` V>Ìi`Ê > °
n
x
n
È
Ê
> V Ê L> Ê6 âV>Þ>Ê À}i Ì>À >Ê-° °Ê °*°Ê À}> Ê >ÃiÊ > Ê
ÀiÃ` iÀÊ > Ê ÕÝi L ÕÀ}Ê-° °Ê Ê Ê
Ê
Ài } Ê Ài } Ê Ài } Ê / Ì> Ê / 1-fÊ £ää°ää
1-fÊ 1-fÊ 1-fÊ Ê Ê
Ê
Ê Ê
ÕÀÀi VÞ Ê
È ]ÈÇx]äääÊ Ê Ê Ê È ]ÈÇx]äääÊ £Óx]äääÊ
/ fÊ
>ÌÕÀ Ì iÃÊ "ÛiÀÊÌÜ ÊÞi>ÀÃ]Ê Õ«ÊÌ ÊÌ ÀiiÊÞi>ÀÃÊ
£ x]ä ä]äääÊ Ê Ê Ê £ x]ä ä]äääÊ Îxä]äääÊ
/ fÊ
Ê "ÛiÀÊÌ ÀiiÊÞi>ÀÃ]Ê ÊÕ«ÊÌ ÊwÛiÊÞi>ÀÃÊ
ÓÈ{]ÇÈx]äääÊ Ê Ê Ê ÓÈ{]ÇÈx]äääÊ {Çx]äääÊ
/ fÊ
Ó°ÎxÊ Ê Ê Ê Ê
¯Ê
ÌÊ iVi LiÀÊΣ]ÊÓää{Ê / Ì> Ê ÛiÀ>}iÊ> Õ> Ê }ÊÌiÀ Ê ÌiÀiÃÌÊÀ>ÌiÊ
ÇÈ]änä]ÈÓx Ê{Ó]Èäx]£xä ££n]Ènx]ÇÇx £ x]äää
/ f
ÌÊ iVi LiÀÊΣ]ÊÓääÎ / Ì> Ê Ê } ÌiÀ
Ê
Ê
Ê
/ 1-fÊ
`Ê,Õ iÊ£{{Ê Ê `Ê,Õ iÊ£{{Ê Ê / Ì> Ê } ÌiÀ Ê
} ÌiÀ ÊL `Ã
`Ê,Õ iÊ£{{Ê Ê `Ê,Õ iÊ£{{Ê Ê / Ì> Êà ÀÌ ÌiÀ Ê / 1-fÊ
} ÌiÀ ÊL `ÃÊ ÊÃ ÀÌ ÌiÀ Ê« ÀÌ Ê
Ê
Ê Ê
`Ã\
Ê
Ê
à } iÊ Ã } iÊ Ê
à } iÊ Ã } iÊ Ê Ê
Ê Ê -iÀ iÃ
Ê
Îää]äää]äääÊ Óxä]äää]äääÊ Ê
Óxä]äää]äääÊ Îää]äää]äääÊ Ê Ê
Ê > Ê Û> ÕiÊ
Ê
1-fÊ 1-fÊ Ê
1-fÊ 1-fÊ Ê Ê
Ê ,iÃÌ>Ìi i ÌÊÊ `iÝÊ
Ê
{°nÇxÊ Ç°ÎÇxÊ Ê
Ç°ÎÇxÊ {°nÇxÊ Ê Ê
Ê ÌiÀiÃÌÊÊ À>ÌiÊ
Ê
£nÉäÈÉÓä£ÎÊ £xÉäÈÉÓääxÊ Ê
£xÉäÈÉÓääxÊ £nÉäÈÉÓä£ÎÊ Ê Ê
Ê Ý« À>Ì Ê `>Ìi Ê
Ê
> Õ> Ê > Õ> Ê Ê
> Õ> Ê > Õ> Ê Ê Ê
ÌiÀiÃÌÊ
Ê
ÌÊÌ iÊ >ÌÕÀ ÌÞÊ ÌÊÌ iÊ >ÌÕÀ ÌÞÊ Ê
ÌÊÌ iÊ >ÌÕÀ ÌÞÊ ÌÊÌ iÊ >ÌÕÀ ÌÞÊ Ê Ê
«À V «> Ê
Ê *>Þ i ÌÃÊ`>ÌiÃÊ
Îää]äääÊ
£ÈÇ]ÓÓä]äääÊ Ê Ê £ÈÇ]ÓÓä]äääÊ
£Î ]ÇÈÓ]{£nÊ ÊÓÇ£]ÇÎÎÊ £{ä]äÎ{]£x£Ê Óx£]ÓÓÇÊ
Óää{Ê
{ÇÓ]È £Ê ÊΣÈ]£ÇÓÊ Çnn]nÈÎ £]Ó È
ÓääÎÊ
xxä]äää
£nÓ]x Î]xääÊ Ê£xÓ]£È£]ÓxäÊ ÎÎ{]Çx{]Çxä
*>ÀÊÛ> ÕiÊ / fÊ
LÀ >` LÀ >`Ê
LÀ >`Ê LÀ >`
« >Vi i Ì
`
L®Ê Ê Ûi LiÀÊÓäää]Ê ÛiÀà iÃÊ * Ê-° °ÊÃÕLÃVÀ Li`Ê> Ê ÌiÀiÃÌÊÀ>ÌiÊ-Ü>«Êv ÀÊ1-f£xäÊ ÃÊ ÊÌ iÊL `Ê vÊ1-fÓxäÊ Ã]ÊV > } }ÊÌ iÊÀ>ÌiÊvÀ ÊÇ°ÎÇx¯ÊÌ ÊÇ°ÓÈnȯ°Ê Ê>`` Ì ]ÊÀ> }iÃÊÜiÀiÊiÃÌ>L à i`ÊÜ iÀiÊ ÛiÀà iÃÊ * Ê-° °Ê >ÃÊ>ÊÛ>À >L iÊÀ>Ìi°
>®Ê Ê iVi LiÀÊ£ ]Ê ÛiÀà iÃÊ * Ê-] ÊÃÕLÃVÀ Li`Ê> Ê ÌiÀiÃÌÊÀ>ÌiÊ-Ü>«]ÊÜ V ÊÀi`ÕVi`ÊÌ iÊ ÌiÀiÃÌÊÀ>ÌiÊÌ ÊÈ°nÈÎ¯Ê Ê1-fÊ£ääÊ ÃÊ ÊÌ iÊ `Ê vÊ1-fÊÓxäÊ ÃÊ >ÌÕÀ }Ê Ê Õ iÊÓääx°
ÌiÀiÃÌÊÀ>ÌiÊ-Ü>«Ã
/ iÃiÊ L }>Ì ÃÊ Û ÛiÊV « > ViÊÜ Ì ÊViÀÌ> Êw > V > ÊV Ûi > ÌÃÊv ÀÊ «ÀiÃ>ÃÊ * Ê-° °]ÊÜ V Ê>ÀiÊ> « ÞÊV « i`ÊÜ Ì Ê>ÌÊi>V ÊÞi>ÀÊi `Ê ÌiÃÊ£xÊ> `ÊÓÇ®°
ÊÓää{]ÊÌ iÊÛ> ÕiÊ vÊ ÌiÀiÃÌÊ>VVÀÕi`Ê>ÌÊÌ iÊÞi>ÀÊi `Ê ÃÊÃ Ü Ê ÊÌ iÊà ÀÌÊÌi ]Ê> }ÊÜ Ì ÊÌ iÊÛ> ÕiÊ vÊÌ iÊ«À V «> Ê`ÕiÊV ÀÀië ` }ÊÌ ÊÌ iÊ« >Vi i ÌÊ vÊ/ 1-fÊÓxä]äää]ÊÜ Ì Ê >ÌÕÀ ÌÞÊ Ê Õ iÊÓääx°
" Ê Õ iÊx]Ê£ n]Ê ÛiÀà iÃÊ * Ê-° °]ÊÌ À Õ} Ê ÌÃÊ>}i VÞÊ ÊÌ iÊ >Þ > Ê Ã > `Ã]Ê ÃÃÕi`Ê>ÊL `Ê>LÀ >`Ê ÊÌ iÊ> Õ ÌÊ vÊ1-fÊÓxäÊ ]Ê Ê>VV À`> ViÊÜ Ì Ê,Õ iÊ£{{>Ê vÊÌ iÊ1 Ìi`Ê-Ì>ÌiÃÊ-iVÕÀ Ì iÃÊ VÌ°Ê/ ÃÊ L }>Ì Ê Û ÛiÃÊÌ iÊ«>Þ i ÌÊ vÊÃi > Õ> Ê ÌiÀiÃÌ]Ê>ÌÊ> Ê> Õ> ÊÇ°ÎÇx¯Ê ÌiÀiÃÌÊÀ>Ìi]ÊLi }ÊÌ iÊÌ Ì> Ê«À V «> Ê«> `Ê Ê Õ iÊÓääx]ÊÜ V Ê ÃÊÃ Ü Ê ÊÌ iÊà ÀÌÊÌi °
" Ê Õ iÊ££]ÊÓääÎ]Ê ÛiÀà iÃÊ * Ê-° °]ÊÌ À Õ} Ê ÌÃÊ>}i VÞÊ ÊÌ iÊ >Þ > Ê Ã > `Ã]Ê ÃÃÕi`Ê>ÊL `Ê>LÀ >`Ê ÊÌ iÊ> Õ ÌÊ vÊ1-fÊÎääÊ ]Ê Ê>VV À`> ViÊÜ Ì Ê,Õ iÊ£{{>Ê vÊÌ iÊ1 Ìi`Ê-Ì>ÌiÃÊ-iVÕÀ Ì iÃÊ VÌ°Ê/ ÃÊ L }>Ì Ê Û ÛiÃÊÃi > Õ> ÞÊ ÌiÀiÃÌ]Ê>ÌÊ> Ê> Õ> Ê{°nÇx¯Ê ÌiÀiÃÌÊÀ>Ìi]ÊLi }ÊÌ iÊÌ Ì> Ê«À V «> Ê«> `Ê Ê Õ iÊÓä£Î°
`ÃÊ«>Þ>L i\
Ê Ê Ê Ê Ê Ê
/ fÊ
Ê "ÛiÀÊ iÊÞi>À]Ê Õ«ÊÌ ÊÌÜ ÊÞi>ÀÃÊ
"/ Ê£ÈÊ Ê " -Ê* 9 Ê Ê- ",/ Ê " / ,
/ Ì> Ê Êv Ài } ÊVÕÀÀi VÞʯ®Ê / Ì> Ê Ê V> ÊVÕÀÀi VÞʯ®Ê
Ê Ê ÃÌ ÌÕÌ
Ê
Ê/>ÝÊ Õ LiÀÊ
Ê
ÌÊ`iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ/À> à >Ì Ê vÊÌ iÊ À } > Ê Ê-«> à ®
"/ -Ê/"Ê/ Ê " -" / Ê Ê-/ / /-
"/ Ê£ÇÊ Ê*,"6 - " -Ê Ê7, / " >®Ê / iÊ«À Û Ã ÃÊÃ Ü ÊÕ `iÀÊ ÕÀÀi ÌÊ >L Ì iÃÊ>ÀiÊ>ÃÊv ÜÃ\ Ê
Ê
Ê
Óää{Ê
/ f ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎ
6>V>Ì Ê«À Û Ã ÃÊ
È]xä£] ÎxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ È]ÎäÇ]{ÇÇ
-Ì>vvÊL ÕÃiÃÊ> `Ê Ì iÀÊLi iwÌÃÊ
{]ÎÈÓ]xn£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {]È£n]££{
*À Û Ã Êv ÀÊ ÛiÃÌ i ÌÃÊ«À iVÌÃÊ
Ó]ää£]nÈnÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]{n{]n £
-Ì>vvÊÃiÛiÀ> ViÊ `i ÌÞÊÃ ÀÌÊÌiÀ Ê
£]x Ó]È{ÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]x{£]{ÇÓ
*À Û Ã Êv ÀÊ` ÀiVÌ À iÃÊÀi Õ iÀ>Ì Ê
xÎä]Ó {ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÎÇ£]În£
*À Û Ã Êv ÀÊ >L ÀÊÃÕ ÌÃÊ
£ÎÈ]{äÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó£Ó]{ÇÓ
"Ì iÀÊ«À Û Ã ÃÊ
Ê£]£Èn]x{£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ê£]ÇÓÇ]n£ä
/ Ì> Ê
£È]Ó {]ÓÈÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £È]ÓÈÎ]È£Ç
/ 1-fÊ
Ó ]ÓÎÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓÈ]ÇÓ£
L®Ê } ÌiÀ Ê«À Û Ã Ã Ê
Ê
Ê
Óää{Ê
-Ì>vvÊÃiÛiÀ> ViÊ `i ÌÞÊ "Ì iÀÊ«À Û Ã ÃÊ / Ì> Ê / 1-fÊ
/ f ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎ
ÓÇ]{{ä]äxÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓÇ]äÈÇ]x{{ ÊÇÓ{]ÇäÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊnnÈ]ÓÓÎ Ón]£È{]Çx ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓÇ] xÎ]ÇÈÇ xä]xÓ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {x] Ón
/ iÀiÊÜiÀiÊ Êà } wV> ÌÊÜÀ Ìi vvÃÊ ÊÓää{Ê> `ÊÓääΰ
"/ Ê£nÊ Ê-/ Ê- 6 , Ê / Ûi i ÌÊ Ê> `ÊÌ iÊL> > ViÊ vÊÌ ÃÊ«À Û Ã ]ÊV> VÕ >Ìi`Ê>ÃÊ`iÃVÀ Li`Ê Ê ÌiÊÓÊî]Ê>ÀiÊ>ÃÊv ÜÃ\ Ê
Ê
Ê
Óää{Ê
> > ViÊvÀ Ê«À ÀÊÞi>ÀÊ VÀi>ÃiÊv ÀÊÌ iÊÞi>ÀÊ
/ f ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎ
ÓÇ] ££]ÓÎxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓÈ]Ó£ ]Ç{ÇÊ {]ä{x]Îx{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {]{Ç ]În£
*>Þ i ÌÃÊ >`iÊ`ÕÀ }ÊÌ iÊÞi>ÀÊ
ÊÓ] ÓÎ]n ä®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÓ]ä ä]££Ó®
> > ViÊ>ÌÊ iVi LiÀÊΣ]ÊÊ
Ó ]äÎÓ]È ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ón]Èä ]ä£È
/ 1-fÊ
xÓ]änÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {Ç]ää{
*ÀiÃi Ì>Ì Ê Ê > > ViÊÃ iiÌ - ÀÌ ÌiÀ Ê«À Û Ã ÃÊ
£]x Ó]È{ÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]x{£]{ÇÓ
} ÌiÀ Ê«À Û Ã ÃÊ
ÓÇ]{{ä]äxÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓÇ]äÈÇ]x{{
/ Ì> Ê
Ó ]äÎÓ]È ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ón]Èä ]ä£È
/ 1-fÊ
xÓ]änÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {Ç]ää{
n
Ç
"/ -Ê/"Ê/ Ê " -" / Ê Ê-/ / / ÌÊ`iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ/À> à >Ì Ê vÊÌ iÊ À } > Ê Ê-«> à ®
"/ Ê£ Ê Ê ", /9Ê / , -/ >®Ê / iÊ« ÀÌ Ê vÊ À ÌÞÊ ÌiÀiÃÌÊ ÊiµÕ ÌÞÊ vÊÃÕLà ` >À iÃÊ Ü i`ÊLÞÊÌ À`Ê«>ÀÌ iÃÊ ÃÊ>ÃÊv ÜÃ\ Ê
Ê
-ÕLÃ ` >ÀÞ
Ê
`ÕÃÌÀ >ÃÊ ÀiÃÌ> iÃÊ-° °Ê
/ f
Óää{Ê
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎ
ÈÓ]{ÇÎ]nÈ£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÈÎ]£xÎ]ÈxÈ
ÀiÃÌ> ÊÞÊ }À V >Ê ÌiÊ }Õ >Ê-° °Ê
ÇÇ]x££ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÇÈ]{Èä
«ÕÃ>Ê Ê1ÀÕ}Õ>ÞÊ
ÓÓ]£Ó ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ ]Èn{
>Ê*>«i iÀ>Ê`i Ê* >Ì>Ê-° °Ê
n]ΣxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ]ä{£
"ÌÀ>ÃÊ
Ê£ÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ê£{
/ Ì> Ê
ÈÓ]xn£]nÓ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÈÎ]Óxn]nxx
/ 1-fÊ
££Ó]ÓÇxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £äÎ] Î{
L®Ê À ÌÞÊ ÌiÀiÃÌÊ ÊÌ iÊ« ÀÌ Ê vÊ V iÊ vÊÃÕLà ` >À iÃÊ Ü i`ÊLÞÊÌ À`Ê«>ÀÌ iÃÊ ÃÊ>ÃÊv ÜÃ\ Ê
Ê
-ÕLÃ ` >ÀÞ
Ê
`ÕÃÌÀ >ÃÊ ÀiÃÌ> iÃÊ-° °Ê
/ f
Óää{Ê
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎ
Ó] Ó£]ÎÈä®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]£ÎÎ]x£ä®
ÀiÃÌ> ÊÞÊ }À V >Ê ÌiÊ }Õ >Ê-° °Ê
È]ÇÇ{®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ x]ÓÓ
*1- Ê Ê1ÀÕ}Õ>ÞÊ
{]£äÓ®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÈÓn®
>Ê*>«i iÀ>Ê`i Ê* >Ì>Ê-° °Ê
{£{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÎÈÎ
i >Ê`iÊ `i>` ÃÊ-° °Ê / Ì> Ê
Ê ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÓäx]È {® Ó] Σ]nÓÓ®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]ÎÎ{]Ó{ä®
/ 1-fÊ
x]Óx ®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î]nÎx®
"/ ÊÓäÊ Ê- , " ,-½Ê +1 /9
>« Ì> *> ` ÊV>« Ì> Ê vÊÌ iÊ*>Ài ÌÊ «> ÞÊ> Õ ÌÃÊÌ Ê/ fÊ n] x ]Î nÊ / 1-fÊ£ÇÇ]xÎÇ]ÊÜ V Ê ÃÊ` Û `i`Ê Ì ÊÓää]äää]äääÊà >Àið
Û `i `à / iÀiÊ ÃÊ ÊÀiÃÌÀ VÌ Ê Ê` ÃÌÀ LÕÌ }ÊÀiÌ> i`Êi>À }ÃÊ>ÃÊ` Û `i `ð / iÊ >À`Ê vÊ ÀiVÌ ÀÃ]Ê Ê ÌÃÊÃiÃà Ê`>Ìi`Ê iVi LiÀÊ ]ÊÓää{]Ê>}Àii`ÊÌ Ê` ÃÌÀ LÕÌiÊ ÌiÀ Ê` Û `i `Ê cÊÓÎÓÊ vÊ f£Óä]ÊÀiV À` }Ê>ÊV >À}iÊÌ Ê iÌÊ V iÊv ÀÊÌ iÊÞi>ÀÊi `i`Ê
iVi LiÀÊΣ]ÊÓää{°Ê-ÕV Ê` Û `i `ÊÜ Õ `ÊLiÊ«> `ÊÃÌ>ÀÌ }Ê Ê > Õ>ÀÞÊÈ]ÊÓääx° / iÊ >À`Ê vÊ ÀiVÌ ÀÃ]Ê Ê ÌÃÊÃiÃà Ê`>Ìi`Ê Õ}ÕÃÌÊx]ÊÓää{]Ê>}Àii`ÊÌ Ê` ÃÌÀ LÕÌiÊ ÌiÀ Ê` Û `i `Ê cÊÓÎ£Ê vÊ fÊ ä]ÊÀiV À` }Ê>ÊV >À}iÊÌ Ê iÌÊ V iÊv ÀÊÌ iÊÞi>ÀÊi `i`Ê
iVi LiÀÊΣ]ÊÓää{°Ê-ÕV Ê` Û `i `ÊÜ>ÃÊ«> `ÊÃÌ>ÀÌ }Ê Ê-i«Ìi LiÀÊÓ]ÊÓää{° / iÊ- >Ài `iÀýÊ> Õ> Ê iiÌ }Ê i `Ê Ê «À ÊÎä]ÊÓää{Ê>}Àii`ÊÌ Ê` ÃÌÀ LÕÌiÊw > Ê` Û `i `Ê cÊÓÎäÊ vÊ fÊ äÊ«iÀÊà >Ài]ÊÀiV À` }Ê>ÊV >À}iÊÌ Ê iÌÊ V iÊv ÀÊÌ iÊÞi>ÀÊi `i`Ê
iVi LiÀÊΣ]ÊÓääΰÊ-ÕV Ê` Û `i `ÊÜ>ÃÊ«> `ÊÃÌ>ÀÌ }Ê Ê >ÞÊ£Ó]ÊÓää{Ê> `ÊÌ iÊL> > ViÊ vÊÌ iÊÕ ` ÃÌÀ LÕÌi`Êi>À }ÃÊÜ>ÃÊÌÀ> ÃviÀÀi`ÊÌ ÊÌ iÊÀiÃiÀÛiÊ vÊÀiÌ> i`Êi>À }ð ÕÀÌ iÀ]ÊÃÕV Ê iiÌ }Ê>}Àii`ÊÌ iÊ` Û `i `Ê« VÞÊv ÀÊÓää{]ÊV à ÃÌ }Ê vÊÌ iÊ` ÃÌÀ LÕÌ Ê vÊÌÜ Ê ÌiÀ Ê` Û `i `Ã]Ê«>Þ>L iÊ Ê-i«Ìi LiÀ]Ê iVi LiÀÊÓää{Ê ÀÊ > Õ>ÀÞÊÓääx]Ê>ÃÊ Üi Ê>ÃÊ>Êw > Ê` Û `i `]ÊÌ ÊLiÊ>}Àii`ÊLÞÊÌ iÊ iÝÌÊ iiÌ }]Ê«>Þ>L iÊ Ê >ÞÊÓääx]ÊÕ Ì ÊV « iÌ }Ê{ä¯Ê vÊÌ iÊ iÌÊ V iÊv ÀÊÓää{° / iÊ >À`Ê vÊ ÀiVÌ ÀÃ]Ê Ê ÌÃÊÃiÃÃ Ê i `Ê Ê iVi LiÀÊ{]ÊÓääÎÊ>}Àii`ÊÌ Ê` ÃÌÀ LÕÌiÊ ÌiÀ Ê` Û `i `Ê cÊÓÓ Ê vÊ fÊnäÊ«iÀÊà >Ài]ÊÀiV À` }Ê>ÊV >À}iÊÌ Ê iÌÊ V iÊv ÀÊÞi>ÀÊ ÓääÎ]ÊÜ V ÊÜ>ÃÊ«> `Ê Ê > Õ>ÀÞÊn]ÊÓää{° / iÊ >À`Ê vÊ ÀiVÌ ÀÃ]Ê Ê ÌÃÊÃiÃÃ Ê i `Ê Ê Õ}ÕÃÌÊÇ]ÊÓääÎÊ>}Àii`ÊÌ Ê` ÃÌÀ LÕÌiÊ ÌiÀ Ê` Û `i `Ê cÊÓÓnÊ vÊ fÊnäÊ«iÀÊà >Ài]ÊÀiV À` }Ê>ÊV >À}iÊÌ Ê iÌÊ V iÊv ÀÊÞi>ÀÊ ÓääÎ]ÊÜ V ÊÜ>ÃÊ«> `Ê Ê-i«Ìi LiÀÊ{]ÊÓääΰ
n
n
"Ì iÀÊÀiÃiÀÛiÃ\ / iÊv Ü }Ê ÃÊ>ÊLÀi> ` Ü Ê vÊÌ ÃÊL> > Vi\ Ê Ê
ÀiÃÌÀÞÊ>««À> Ã> ÃÊ> `Ê Ì iÀÊ>` ÕÃÌ i ÌÃÊÌ Ê iÌÊÜ ÀÌ ÊÀiV À`i`ÊLÞÊÃÕLÃ ` >À iÃÊ
Ê Óää{Ê
/ f ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎ
Çx£]È£Ó]{ÈÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ç£ ]{nÇ]ÓÓ{
VÀi>Ãi`ÊÛ> ÕiÊ Ê>««À> Ã> Ê vÊwÝi`Ê>ÃÃiÌÃÊ
£x] ÈÈ]n£xÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £x] ÈÈ]n£x
,iÃiÀÛiÊv ÀÊvÕÌÕÀiÊV>« Ì> Ê VÀi>ÃiÃÊ
ÊÓä]Óx£]{{nÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÓä]Óx£]{{n
/ Ì> Ê
ÇnÇ]nÎä]ÇÓxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Çxx]Çäx]{nÇ
/ 1-fÊ
£]{£Î]{äÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]Ó{£]È£
/ iÊÀiÃiÀÛiÊv ÀÊvÕÌÕÀiÊV>« Ì> Ê VÀi>ÃiÃÊ À } >ÌiÃÊvÀ Ê«À À Þi>ÀÊÀiÛ> Õ>Ì Ê> `ÊÀi>««À> Ã> Ê vÊwÝi`Ê>ÃÃiÌÃ]ÊÜ V ÊV> Ê ÞÊLiÊV>« Ì> âi`Ê ÊV v À ÌÞÊÜ Ì ÊÌ iÊ-Õ«iÀ Ìi `i VÞÊ vÊ-iVÕÀ Ì iÃÊ> `Ê ÃÕÀ> Vi° / iÊL> > ViÊ vÊÌ iÊÀi >Ìi` V «> ÞÊ i}>Ì ÛiÊ} `Ü Ê>À ÃiÃÊvÀ ÊÌ iÊL ÊÛ> ÕiÊ>` ÕÃÌ i ÌÊ vÊ ÛiÃÌ i ÌÃÊ>ÃÊv ÜÃ\ Ê
Ê
Ê
Óää{Ê
/ f ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎ
ÀiÃÌ> Ê V Ê-° °Ê
x{ä]xnä]xn£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ xÓx]£ä£]Óxx
`ÕÃÌÀ >ÃÊ ÀiÃÌ> iÃÊ-° °Ê
£{x]ÎÈÎ]ÈÎÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £{Î]£È{]ÓÇä
ÀiÃÌ> ÊÞÊ }À V >Ê ÌiÊ }Õ >Ê-° °Ê
Ç] {È]xÎäÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ È]nÇ
ÀiÃÌ> Ê ÃµÕiÃÊ`i Ê* >Ì>Ê-° °Ê
£]xä£]ÓÈxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ
>Ê*>«i iÀ>Ê`i Ê* >Ì>Ê-° °Ê
x]ä{{]äÇ£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ
ÀiÃÌ> Ê ÕiV Ê-° °Ê
x{ä]È£ÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ
"Ì iÀÊ ÛiÃÌ i ÌÃÊ
Êxä]ÈÎx]ÇÈxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Êxä]ÓÓ{]nÓä
/ Ì> Ê
Çx£]È£Ó]{ÈÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ç£ ]{nÇ]ÓÓ{
/ 1-fÊ
£]Î{n]{ÓÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]£nÓ]££Î
- } wV> ÌÊV > }iÃÊ ÊÌ iÊ i}>Ì ÛiÊ} `Ü ÊÀiÃiÀÛiÊV ÀÀië `ÊÌ ÊÌ iÊÀiÛ> Õ>Ì Ê vÊv ÀiÃÌÊ« > Ì>Ì ÃÊÜ V ÊÀiyiVÌÊ >ÌÕÀ> Ê}À ÜÌ Ê vÊv ÀiÃÌÃÊ> Õ Ì }ÊÌ Ê/ fÊnn]È£Ç]{{xÊ Ê/ 1-fÊ£xn] Î{Ê ÊÓää{Ê/ fÊx ] {n]£n£]Ê Ê/ 1-fÊ n]{ {Ê ÊÓääήÆÊÌ iÊ`iVÀi>ÃiÊ ÊÌ iÊ«À « ÀÌ Ê vÊÌ iÊv ÀiÃÌÊÀiÃiÀÛiÊV ÀÀië ` }ÊÌ ÊÌ iÊiÝ« Ìi`Ê« ÀÌ Ê> Õ Ì }Ê Ì Ê/Ê fÊxÈ]n x]È ÇÊ Ê/ 1-fÊ£äÓ]äÇÎÊ ÊÓää{Ê/ fÊ{Î]È{n] {ÓÊ Ê/ 1-fÊÇ£]Ç£xÊ ÊÓääή°
iÌ> ÃÊ vÊv Ài } ÊiÝV > }i\ Ûi i ÌÃÊ Êv Ài } ÊiÝV > }iÊ>` ÕÃÌ i ÌÃÊÃ Ü Ê Ê"Ì iÀÊÀiÃiÀÛiÃÊ ÃÊ>ÃÊv ÜÃ\ Ê
Ê
Ê
Óää{Ê
> > ViÊ>ÌÊÌ iÊ«À ÀÊÞi>ÀÊÊ Ûi i ÌÊ`ÕÀ }ÊÌ iÊÞi>ÀÊ > > ViÊ>ÌÊ iVi LiÀÊΣ]ÊÊ / 1-fÊ
/ f ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎ
£]x{n]xÈ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]x{n]xÈ Ê ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ê £]x{n]xÈ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]x{n]xÈ Ó]ÇÇnÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]x{{
/ iÊ Ûi i ÌÊ`ÕÀ }ÊÌ iÊÞi>ÀÊ ÃÊ>ÃÊv ÜÃ\ VÀi>ÃiÊvÀ Ê * Ê> `Ê` >ÀÊÛ>À >Ì ÃÊ>«« i`ÊÌ Êv Ài } Ê ÛiÃÌ i ÌÃÊ **Ê> `Ê Ì iÀÃÊ À}i Ì >]Ê *1- Ê Ê1ÀÕ}Õ>ÞÊ> `Ê*À Ì Ã>Ê Ê*iÀÖ®Ê
£Ç]xää]{x£®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {n]äÇÓ]Î È®
iÃÃ\Ê vviVÌÊ vÊ>` ÕÃÌ i ÌÊLiÌÜii Ê * Ê> `Ê` >ÀÊÛ>À >Ì ÃÊ ÊÌ i >L Ì iÃÊ>ÃÃ V >Ìi`ÊÌ ÊÌ iÃiÊ ÛiÃÌ i ÌÃÊ>ÃÊ i`}iÃÊ
£Ç]xää]{x£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {n]äÇÓ]Î È
/ Ì> Ê
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ
/ 1-fÊ
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ
n
"/ -Ê/"Ê/ Ê " -" / Ê Ê-/ / / ÌÊ`iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ/À> à >Ì Ê vÊÌ iÊ À } > Ê Ê-«> à ®
- >Ài `iÀýÊ` ÃÌÀ LÕÌ Ê>ÌÊ iVi LiÀÊΣ]ÊÓää{Ê ÃÊ>ÃÊv ÜÃ\ Ê /Þ«iÊ vÊà >Ài `iÀÊ Ê
/ Ì> Ê «>ÀÌ V «>Ì Ê ¯
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Õ LiÀÊ vÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÃ >Ài `iÀ
` }Ê vÊ£ä¯Ê ÀÊ ÀiÊ
În°n{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó
` }Ê vÊ iÃÃÊÌ > Ê£ä¯]ÊÜ Ì Ê> Ê ÛiÃÌ i ÌÊ vÊ1 ÊÓääÊ ÀÊ ÀiÊ
Èä° nÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î]ÈÓ
` }Ê vÊ iÃÃÊÌ > Ê£ä¯ÊÜ Ì Ê> Ê ÛiÃÌ i ÌÊ vÊÕ `iÀÊ1 ÊÓääÊ
Êä°£nÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {]ÈÓÓ
/ Ì> Ê
£ää°ääÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ n]ÓxÎ
ÌÀ }Ê ÌiÀiÃÌÊ
xx°{ÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó{
> }iÃÊ Êà >Ài `iÀýÊiµÕ ÌÞ\ Ê Ê
Ê Ê
Ê Ê
Óää{Ê / fÊ
Ê Ê
Ê Ê
Ê Ê
*> ` Õ«Ê V>« Ì> Ê
"Ì iÀÊ ÀiÃiÀÛiÃÊ
,iÃiÀÛiÊv ÀÊÊ vÕÌÕÀiÊ` Û `i `ÃÊÊ
VVÕ Õ >Ìi`Ê «À wÌÃÊ
ÊÊ
Û `i `ÃÊ
> > ViÃÊ>ÌÊ > Õ>ÀÞÊ£]Ê
ÃÌÀ LÕÌ Ê vÊ«ÀiÛ ÕÃÊÞi>ÀÊ V iÊ
È]x{x]Çx{Ê
ÇÎÇ]ÓÇÎ]È{ÈÊ
£{]{Èn]Ç{ÇÊ
£]äÈn]ään]{xxÊ
Σ] n{]äää®Ê
Ê
Ê
Ê
Ó]È£ ]n{ÈÊ
Σ] n{]äääÊ
> Ê` Û `i `Ê«>Þ i ÌÊ
Ê
Ê
Ê
£n]äää]äää®Ê
Ê
` ÕÃÌ i ÌÃÊÌ Ê iÌÊÜ ÀÌ ÊÀiV À`i`ÊLÞÊÃÕLÃ ` >À iÃÊ
Ê
ÎÎ]ÓÈ{]ÇnÈÊ
Ê
Ê
Ê
Ó]{£Î]È{{Ê
£Ç]Ó Ó]Ó ÎÊ
ÎÈ£]Ç£ Ê
Ón]x{Ç]ÇänÊ
£nä]äää®Ê
Ê
Ê
Ê
Ê
Ê
Ê Ê
Ê Ê
Ê Ê
Ê Ê
{Ó]äää]äää®Ê
n] x ]Î nÊ
ÇnÇ]nÎä]ÇÓxÊ
£{]nÎä]{ÈÈÊ
£]£Ç£]£ÇÈ]ää Ê
{Ó]£nä]äää®Ê
Ê
Ê
Ê
Ê
Ê
£ÇÇ]xÎÇÊ
£]{£Î]{äÎÊ
ÓÈ]ÈäÈÊ
Ó]£ä£]£{£Ê
Çx]ÈÇήÊ
,iÃÌ>Ìi i ÌÊ vÊ ÛiÃÌi`ÊV>« Ì> Ê iÌÊ V iÊv ÀÊÌ iÊÞi>ÀÊ ÌiÀ Ê` Û `i `ÃÊ > > ViÃÊ>ÌÊ iVi LiÀÊΣ]Ê > > ViÃÊ>ÌÊ iVi LiÀÊΣ]ÊÀiÃÌ>Ìi`Êv ÀÊV «>À à ÊÊ / 1-fÊ
ä
Õ LiÀÊ vÊÃ >ÀiÃ\ -iÀ iÃÊ
Õ LiÀÊ vÊÃÕLÃVÀ Li`ÊÃ >ÀiÃÊ
- } iÊ
Õ LiÀÊ vÊ«> `Ê Êà >Àià ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Õ LiÀÊ vÊà >ÀiÃÊÜ Ì ÊÛ Ì }ÊÀ } ÌÃ
ÊÓää]äää]äääÊ
Óää]äää]äääÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Óää]äää]äää
µÕ ÌÞ\Ê Ê -iÀ iÃ
Ê Ê
/ 1-f ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ
-ÕLÃVÀ Li`ÊV>« Ì> Ê
- } iÊ
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊ*> ` ÊV>« Ì>
n] x ]Î nÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ n] x ]Î n
/ 1-fÊ
£ÇÇ]xÎÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ÈÓ]x ä
Ê Ê
Ê Ê
Ê Ê
ÓääÎ / f
iÌÊ V iÊ v ÀÊÌ iÊÞi>ÀÊÊ
*> ` Õ«Ê V>« Ì> ÊÊ
"Ì iÀÊ ÀiÃiÀÛiÃÊ
,iÃiÀÛiÊv ÀÊ vÕÌÕÀiÊ` Û `i `ÃÊÊ
VVÕ Õ >Ìi`Ê «À wÌÃÊÊ
Ê
Û `i `ÃÊ
iÌÊ V iÊ v ÀÊÌ iÊÞi>À
£Ó{]ÈäÎ]n{ÈÊ
x]xn ]nxxÊ
Ç£{]ä£x]xÎäÊ
£{]ÎÓx]{ ÓÊ
£]ä£Ç]xÎ{] ÓÈÊ
£x]ÇÎÓ]äää®Ê
ÈÈ]È{Ó]ÈÇ{
£Ó{]ÈäÎ]n{È®Ê
Ê
Ê
Ê
xä] £ä]ÈÇ{Ê
£x]ÇÎÓ]äääÊ
ÈÈ]È{Ó]ÈÇ{®
Ê
Ê
Ê
Ê
££]Óää]äää®Ê
Ê
Ê
Ê
£È]£Î£]ÇÓäÊ
Ê
Ê
Ê
Ê
xx]n Ê
Ç]£ÓÈ]Î ÈÊ
£{Î]ÓxxÊ
£ä]ÇÈÓ]nxxÊ
£È]äääÊ
£Èn]£Óä]£{xÊ
Ê
Ê
Ê
Ê
Ê
£Ó{]ÈäÎ]n{È
Ê Ê
Ê Ê
Ê Ê
Ê Ê
Ê Ê
ÎÓ]äää]äää®Ê
Ê
£Èn]£Óä]£{xÊ
È]x{x]Çx{Ê
ÇÎÇ]ÓÇÎ]È{ÈÊ
£{]{Èn]Ç{ÇÊ
£]äÈn]ään]{xxÊ
Σ] n{]äää®Ê
£Ó{]ÈäÎ]n{È
Ê
n] x ]Î nÊ
Çxx]Çäx]{nÇÊ
£{]nÎä]{ÈÈÊ
£]ä {]Çän]ÈÈÈÊ
ÎÓ]ÇnÎ]Èää®Ê
£ÓÇ]Ç£n] {Ó
Îä£]È£xÊ
£ÈÓ]x äÊ
£]Ó{£]È£ Ê
Ó{]ÎÈÈÊ
£]Ç n]ÈääÊ
xÎ]nÈήÊ
Óä ]n{£
£
"/ -Ê/"Ê/ Ê " -" / Ê Ê-/ / / ÌÊ`iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ/À> à >Ì Ê vÊÌ iÊ À } > Ê Ê-«> à ®
"/ ÊÓ£Ê Ê"/ ,Ê " "* , / Ê " Ê Ê 8* - >®Ê / iÊL> > ViÊ vÊ"Ì iÀÊ «iÀ>Ì }Ê V iÊ ÃÊ>ÃÊv ÜÃ\ Ê
Ê
Ê
Óää{Ê
/ f ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎ
V iÊ ÊÃ> iÊ vÊwÝi`Ê>ÃÃiÌÃÊ iÌÊ V i®Ê
n]nä{]ÈÎnÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÎÇn]äÈ{
Ýi`Ê>ÃÃiÌÊÀi Ì> Ê
Ó]äxä]£ £ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]ä{x]È{n
ÀiÃÌÀÞÊ ÃÕÀ> ViÊV > ÃÊ
Ó £]{Ç ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {]Σn] £Î
*À wÌÊv ÀÊÃÕ `ÀÞÊÃ> iÃÊ
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ nÓÓ] xÇ
,iÛiÀÃi`ÊÀ Þ> ÌÞÊ«À Û Ã ÃÊ ÌÊ«> `Ê
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ç{ä]äÇÇ
"Ì iÀÃÊ
Ê£]Σ ]äxäÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊnÈ{]Çän
/ Ì> Ê
£Ó]{Èx]ÎxnÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ]£Çä]ÎÈÇ
/ 1-fÊ
ÓÓ]ÎÈ{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £x]äÈÇ
L®Ê "Ì iÀÊ «iÀ>Ì }ÊiÝ«i Ãià Ê
/ ÃÊL> > ViÊ V Õ`iÃÊÌ iÊv Ü }\
Ê
Ê
Ê
Óää{Ê
/ f ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎ
-«>ÀiÊ«>ÀÌÊ Là iÃVi ViÊ«À Û Ã Ê
Ó]nx£]ÇÇÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]äÇÎ]£äÓ
Ãà Ã]ÊÌ>ÝiÃÊ> `Ê Ì iÀÃÊiÝ«i ÃiÃÊ
£]nÓÇ]äÇxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÈÈ]Ç{£
*À iVÌÊiÝ«i ÃiÃÊ
£]£Î ]xÎ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]Ón ]Óää
*À Û Ã Êv ÀÊ >L ÀÊ >ÜÃÕ ÌÃÊ ÃÃÊ ÊÕ ÕÃi`ÊwÝi`Ê>ÃÃiÌÃÊV i>À> ViÊ
{ÈÇ]nÇnÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ón]nÇÈ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]Çn{]Çäx
"Ì iÀÊ
ÊÇ ä]{ä£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]{È ]äÇn
/ Ì> Ê
Ç]äÇÈ]ÈÈxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ È]È££]ÇäÓ
/ 1-fÊ
Ó
£Ó]È ÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ä]nÈÎ
"/ ÊÓÓÊ Ê*, 6 Ê, -/ / / Ê Ê Ê
Ê
Ê
Ê
Ê ,iÃÌ>Ìi i ÌÊ `iÝ Ê
Ê Óää{Ê
/ f ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓääÎÊ
ÃÃiÌÃÊV >À}iîÊVÀi` Ìà Ûi Ì À iÃÊ
* Ê
{]ÇÓÈ] nÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î]{Èn]x££Ê
Ýi`Ê>ÃÃiÌÃÊ
* Ê
xÓ]xÎn]ä{ÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó£]x{Ç]ä £
ÛiÃÌ i ÌÃÊ ÊÀi >Ìi`ÊV «> iÃÊ
* Ê
x£Ç]äÈ{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ Ó]È
Ài } ÊiÝV > }iÊV>Ã Ê> `ÊL> ÃÊ
* Ê
/ iÊ`i« Ã ÌÃÊ> `Ê >À iÌ>L iÊÃiVÕÀ Ì iÃÊ
`iÝi`ÊÕ ÌÊ
`Ü Ê
* Ê
£]Î{£] £ÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {ÈÓ]ÓÇÓ
* Ê
Èxx]ä{{®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ÇÇ]näÇ®
`iÝi`ÊÕ ÌÊ
ÇÇx]{ä£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]nÓä]ÈÎn
i}>Ì ÛiÊ} `Ü Ê VV Õ ÌÃÊÀiVi Û>L iÊÜ Ì ÊÌ À`Ê«>ÀÌ iÃÊ
Ón] näÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £Çx]Çäx Ó{ ]ÈÎÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ÇÇ]{Çä
/ iÊ`i« Ã ÌÃÊ> `Ê >À iÌ>L iÊÃiVÕÀ Ì iÃÊ
* Ê
"Ì iÀÊ iÌ>ÀÞÊ>ÃÃiÌÃÊ
* Ê
È]ÎäÓ]ÓxÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ x£Î]Î{£ È{Ó]££ÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]ÇÇ{] {
ÃÌÊ> `ÊiÝ«i ÃiÊ>VV Õ ÌÃÊ
* Ê
£n]ä£È]£ÈÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ê£]££{]nΣ
/ Ì> ÊV >À}iîÊVÀi` ÌÃÊ
Ê
n{]{nÎ]xÎäÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î£]äÈ ]Çää
µÕ ÌÞÊ
* Ê
{n]{Îx]ÎÈ{®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ ]{Ç ]x£x®
À ÌÞÊ ÌiÀiÃÌÊ
* Ê
£]{È£]{nήÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÈnÓ]£xä®
>L Ì iÃÊÌ ÊL> ÃÊ
* Ê
{]Îä{]ÈÓ ®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]ÇÇÈ]äÇÓ®
`ÃÊ
* Ê
n]£x ] xx®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]{Èn]äÈ ®
ÕÀÀi ÌÊ> `Ê } ÌiÀ Ê >L Ì iÃÊ
* Ê
xÓ]ÓnÈ®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ xÓ]nÈx®
VV Õ ÌÃÊ«>Þ>L iÊÌ ÊÌ À`Ê«>ÀÌ iÃÊ
* Ê
Ó] Óx]n n®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]£ Ó]ÈÓn®
"Ì iÀÊ iÌ>ÀÞÊ >L Ì iÃÊ
* Ê
ÎÈÓ]xÈä®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]Î ]ä£x®
V iÊ>VV Õ ÌÃÊ
* Ê
Ó£]£xn]xÇ£®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ê£]ÓÎ ]{{È®
/ Ì> ÊV >À}iîÊVÀi` ÌÃÊ
Ê
nÈ]nÈä]Ç{È®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó ]Ón ]ÇÈä®
> > ViÊ vÊÌ iÊ«À Vi iÛi ÊÀiÃÌ>Ìi i ÌÊ>VV Õ ÌÊ
Ê
Ó]ÎÇÇ]ӣȮÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]ÇÇ ] {ä
/ 1-fÊ
Ê
{]ÓÈx®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó] Ó{
>L Ì iÃÊV >À}iîÊÉÊVÀi` ÌÃ
Î
"/ -Ê/"Ê/ Ê " -" / Ê Ê-/ / / ÌÊ`iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ/À> à >Ì Ê vÊÌ iÊ À } > Ê Ê-«> à ®
"/ ÊÓÎÊ Ê ", Ê 8 Ê -Ê "-- -® ,iÛ> Õ>Ì Ê Ê>` ÕÃÌ i ÌÊ Ê À}i Ì iÊÃÕLà ` >À iÃ\ / iÊLÀi> ` Ü Ê vÊÌÀ> à >Ì ÊÌ Ê` >ÀÃÊ vÊ>ÃÃiÌÃÊ> `Ê >L Ì iÃÊ Ê À}i Ì iÊ«ià ÃÊ ÊÃÕLà ` >À iÃÊ Ê À}i Ì iÊ ÃÊ>ÃÊv ÜÃ\ Ê Ê
Ê Ê
Ê
Óää{Ê
Õ Ì / f ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎ
ÃÃiÌÃ
>Ã Ê> `ÊL> Ã]ÊÌ iÊ`i« Ã ÌÃÊ> `Ê >À iÌ>L iÊÃiVÕÀ Ì iÃÊ
Ç]Ó{È®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Óäx]Ó ÈÊ
VV Õ ÌÃÊÀiVi Û>L iÊÜ Ì ÊÌ À`Ê«>ÀÌ iÃÊ
ÓÎ ]{ä{®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÈÓä]ÈÎx
Ûi Ì À iÃÊ
x x]Ó{Ç®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £n]n££
/>ÝiÃÊÀiV ÛiÀ>L iÊ
ÓÈ]£ n®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ xÇÈ]änÎ
"Ì iÀÊ>ÃÃiÌÃÊ } ÌiÀ Ê
ÊÎÓ] n®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊxÓ ]nnx
-ÕLÌ Ì> Ê
ä£]ä ήÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]nxä]Ç£ä
>L Ì ià VV Õ ÌÊ> `Ê` VÕ i ÌÃÊÌ Ê«>ÞÊ
Ó£È]ÈäÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ È£{]{ÓÇ®
"Ì iÀÊ >L Ì iÃÊ
£äÇ]{££ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó£ ]n{ή
-ÕLÌ Ì> Ê
ÎÓ{]ä£ÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ nÎ{]ÓÇä®
/ Ì> Ê iÌÊ ÃÃÊ ÊÀiÛ> Õ>Ì Ê Ê À}i Ì iÊ«ià Ê
xÇÇ]äÇÈ®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]ä£È]{{ä
/ 1-fÊ
£]äÎx®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î]ΣÎ
/ iÊv Ài } ÊiÝV > }iÊ}> ÃÊ ÃÃiîÊ>` ÕÃÌ i ÌÊ ÃÊ`iÌ> i`Ê>ÃÊv ÜÃ\ Ê Ê Ê Ê
Ê Ê
Ê
Ê
ÕÀÀi VÞ Ê
Ê Ê
Ê Ê Óää{Ê
Õ Ì / f ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓääÎÊ
ÃÃiÌÃV >À}i®ÊVÀi` ÌÃ
>Ã Ê> `ÊL> ÃÊ
1-fÊ
ÈäÓ]x x®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]£È ]ÓäÇ®
/ iÊ`i« Ã ÌÃÊ> `Ê >À iÌ>L iÊÃiVÕÀ Ì iÃÊ
1-fÊ
Ó£]£nÎ] Ó ®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓÈ]ÓÓx]x x®
/ iÊ`i« Ã ÌÃÊ> `Ê >À iÌ>L iÊÃiVÕÀ Ì iÃÊ
1,"Ê
£]{£Ó]{ÓÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ
Ýi`Ê>ÃÃiÌÃÊ
1-fÊ
£]{£n]äÇήÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {nÎ]£Óή
Ûi Ì À iÃÊ
1-fÊ
Î]£Îä]Ç{È®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £{]äÇÎ]Σx®
VV Õ ÌÃÊÀiVi Û>L iÊÜ Ì ÊÌ À`Ê«>ÀÌ iÃÊ
1-fÊ
££]{ä{]x£n®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Îx]nÇÎ]xÓ{®
"Ì iÀÊ iÌ>ÀÞÊ>ÃÃiÌÃÊ
1-fÊ
Ê£]äx ]Çxx®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊxÈÎ]äÇ£
/ Ì> ÊV >À}iîÊVÀi` ÌÃÊ
Ê
ÎÇ]ÎnÇ]£ ä®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÇÇ]ÓÈ£]È Î®
>L Ì iÃÊV >À}i®ÊVÀi` Ìà - ÀÌÊ> `Ê }ÊÌiÀ Ê >L Ì iÃÊ
1-fÊ
ÎäÈ]£È£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]ÓÈ{]nÇ
VV Õ ÌÃÊ«>Þ>L iÊÜ Ì ÊÌ À`Ê«>ÀÌ iÃÊ
1-fÊ
£]Îx ]ÎxxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ä]Ón£]äÓÇ
>L Ì iÃÊÌ ÊL> ÃÊ
1-fÊ
Ó{]nÎ{]ÈÓÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓÓ]äxä]n{£
`ÃÊ
1-fÊ
£x]În{]n£ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÎÓ]{{ä] ÇÎ
"Ì iÀÊ Ê iÌ>ÀÞÊ >L Ì iÃÊ
1-fÊ
ÓÎÈ]ÇÓ{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÇÓx]{{{
iÛ> Õ>Ì Ê Ê Ì iÀÊv Ài } ÊÃÕLÃ ` >À iÃÊ
1-fÊ
£{Î]ÎÈÓ®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ón] xä®
iÛ> Õ>Ì ®ÊÀiÛ> Õ>Ì Ê Ê À}i Ì i> ÊÃÕLà ` >À iÃÊ
1-fÊ
ÊxÇÇ]äÇÈ®ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÓ]ä£È]{{ä
/ Ì> ÊV >À}iîÊVÀi` ÌÃÊ iÌÊ ÃÃÊ Êv Ài } ÊiÝV > }iÊ` vviÀi ViÊ / 1-fÊ
{
Ê
{£]{ä£]Ó{{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ È ]Çxä]Èx{
Ê
{]ä£{]äx{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ç]x££]äÎ ®
Ê
Ç]Óä£ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £Ó]Î{£®
"/ ÊÓ{Ê Ê " Ê --1 Ê "-/" Ê Õ iÊ££]ÊÓääÎÊ ÛiÀà iÃÊ * Ê-° °Ê ÃÃÕi`Ê>Ê `Ê>LÀ >`]ÊÌÀ Õ} Ê ÌÃÊ>}i VÞÊ ÊÌ iÊ >Þ > Ê Ã > `Ã]Ê> Õ Ì }ÊÌ Ê1-fÊÎääÊ Ã]Ê Ê>VV À`> ViÊÜ Ì Ê,Õ iÊ£{{>Ê vÊ Ì iÊ1 Ìi`Ê-Ì>ÌiÃÊ-iVÕÀ Ì iÃÊ VÌ° ÊÌ iÊ« >Vi i ÌÊ vÊÌ ÃÊ ÃÌÀÕ i Ì]ÊÌ iÊV «> ÞÊ VÕÀÀi`ÊiÝ«i ÃiÃ]Ê>ÃÊv ÜÃ\ Ê Ê Ê
Ê Ê Ê
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Õ Ì ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ / f
>ÃÃ wV>Ì ÃÊ> `ÊV ÃÃ ÃÊ
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]ÎÎä]nxÓ
i}> ÊiÝ«i ÃiÃÊ
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÎÓÈ]Σ
"Ì iÀÊiÝ«i ÃiÃÊ
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÈn]£ÓÓ
/ Ì> Ê
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]ÇÓx]Ó Î
/ 1-fÊ
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {]{Çn
"/ ÊÓxÊ Ê-/ / /Ê" Ê - Ê "7 ÊÀi >Ì ÊÌ ÊÌ iÊy ÜÃÊvÀ Ê ÛiÃÌ i ÌÊ>VÌ Û Ì iÃ]ÊÌ iÊ «> ÞÊ >ÃÊÃiÛiÀ> Ê ÛiÃÌ i ÌÊ«À iVÌÃÊ> Õ Ì }ÊÌ Ê£]äÇ£Ê Ê` >ÀÃ]ÊÌ ÊLiÊ«iÀv À i`Ê`ÕÀ }ÊÌ iÊ iÝÌÊÌÜ Ê Þi>ÀðÊ/ iÊ ÃÌÊ«À i ÌÊLi }\ Ê
Ê
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ 1-f
iÊÓÊ*À iVÌÊ Ê-> Ì>Ê iÊ* > ÌÊ
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÈxΰÓ
* ÞÜ `ÊL >À`Ê« > ÌÊ
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ xx°n
>ÃÃÊ iÀÊ Ê*>V wV Ê« > ÌÊ
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ xx°£
ÀiÃÌÊ ÛiÃÌ i ÌÃÊ
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {n°{
*À v> Ê 6Ê*À iVÌ Ê* >ÃiÊ Ê
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î °x
* ÓäÊ«À iVÌÊ Ê À` iÀ>Ê
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Îx°x
>«>V ÌÞÊiÝ«> Ã Ê Ê >Õ iÊ> `Ê6> ` Û >Ê« > ÌÃÊ
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó °ä
*>«iÀÊ >V iÊ cÓÊ/ ÃÃÕi]Ê/> >}> ÌiÊ
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓÇ°Ç
,iV ÃÌÀÕVÌ Ê vÊ->Ü Ê
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó{°n
-iV `>ÀÞÊÌÀi>Ì i ÌÊ« > ÌÊ Ê >Õ i]Ê6> ` Û >]Ê >Õ i]Ê >V i Ì ]Ê*Õi ÌiÊ Ì Ê« > ÌÃÊ
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó£°x
ÀÞ }Ê*À iVÌ]Ê >V i Ì Ê->Ü Ê
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £Î°{
Ý«> Ã Ê vÊ,i > Õv>VÌÕÀ }Ê« > ÌÊ
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £ä°È
7>Ã }Ê vÊ/ *Ê*Õ «Ê Ê v ÀÃ>Ê
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ç°x
*>«iÀÊ >V iÊ Ê*À Ì Ã>Ê À}i Ì >Ê
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ È°Ç
*À «>ÊV>«>V ÌÞÊiÝ«> à Ê
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ È°{
`iÀ â>Ì Ê vÊ«Õ «ÊV ÀVÕ ÌÃÊ> `ÊÜ>ÌiÀÊV ÀVÕ ÌÃÊV ÃÕÀiÃÊ Ê*Õi ÌiÊ Ì Ê
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {°ä
ÛiÀÃ Ê> `Ê` ÃÌÀ LÕÌ ÊVi ÌiÀÊ Ê*iÀÕÊ
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Î°ä
"Ì iÀÊ ÀÊ«À iVÌÃÊ
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó °ä
/ iÊ>L Ûi i Ì i`Ê> Õ ÌÃÊÀiviÀÊÌ ÊÌ iÊ ÕÌÃÌ> ` }ÊL> > ViÃÊÌ ÊLiÊÀi LÕÀÃi`]Ê>ÃÊ>Ê >À}iÊ Õ LiÀÊ vÊÌ i Ê>ÀiÊV ÌÌi`ÊÛ >ÊV ÌÀ>VÌÃÊV ViÀ }ÊÜ V ÊViÀÌ> Ê>`Û> ViÊ «>Þ i ÌÃÊ >ÛiÊLii Ê >`i°Ê ÊV iVÌ ÊÜ Ì ÊÌ iÊw > V }Êy ÜÃÊ vÊÌ iÊ «> ÞÊ> `Ê ÌÃÊÃÕLà ` >À iÃ]Ê ÌÊV Õ `ÊLiÊ i Ì i`ÊÌ >ÌÊÌ iÊÀiviÀÀi`Ê«À iVÌÃÊÜ ÊLiÊ«>ÀÌ ÞÊvÕ `i`ÊÜ Ì ÊV «> Þ½ÃÊ Ü ÊÀià ÕÀViÃÊ > `Ê > ÃÊ LÌ> i`Ê ÌiÃÊ{]Ê£{]Ê£x]Ê£ÈÊ> `ÊÎή°
ViÀ }ÊV>à Êy ÜÃ]ÊV>à ÊiµÕ Û> i ÌÃÊ V Õ`iÃ]ÊLià `iÃÊÌ iÊ`i« à ÌÃÊ> `Ê >À iÌ>L iÊÃiVÕÀ Ì iÃÊÃ Ü Ê ÊÌ iÊÀiëiVÌ ÛiÊ>VV Õ ÌÃ]ÊÌ iÊ >À iÌ>L iÊÃiVÕÀ Ì iÃÊÕ `iÀÊÀi«ÕÀV >ÃiÊ > `ÊÀiÃ> iÊ>}Àii i ÌÃÊ«ÀiÃi Ìi`Ê Ê"Ì iÀÊVÕÀÀi ÌÊ>ÃÃiÌÃÊ ÌiÃÊ cÊ{Ê> `Ê ®° ÊV iVÌ ÊÜ Ì ÊÌ iÊ>VµÕ Ã Ì Ê vÊÌ iÊÃÕLà ` >À iÃÊ ÀiÃÌ> ÊÞÊ }À V >Ê Ìi>}Õ >Ê-° °Ê> `Ê ÀiÃÌ> Ê ÕiV Ê-° °ÊiÝ - «Ã ®]ÊÌ i ÀÊ > ÊivviVÌÊ ÊÌ iÊ-Ì>Ìi i ÌÊ vÊ
>Ã Ê ÜÃÊv ÀÊÞi>ÀÊÓääÎÊ ÃÊÀiyiVÌi`Ê ÊÌ iÊ«ÕÀV >ÃiÊ vÊ iÜÊwÝi`Ê>ÃÃiÌÃÊ > `]Ê ÀiÃÌÊ* > Ì>Ì Ã®Ê> Õ Ì }ÊÌ Ê/ fÊÇn]Óxx]{xÈÊ Ê/ 1-fÊ£Ón]xÇÎÊ> `Ê/ fÊ£Î]Σ ]ÇÓxÊ Ê/ 1-fÊÓ£]nn{]ÊÀiëiVÌ Ûi Þ°
x
"/ -Ê/"Ê/ Ê " -" / Ê Ê-/ / / ÌÊ`iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ/À> à >Ì Ê vÊÌ iÊ À } > Ê Ê-«> à ®
"/ ÊÓÈÊ Ê , 6 / 6 Ê " /, /Ê
Ê
Ê /Þ«iÊ vÊÊ Ê `iÀ Û>Ì ÛiÊ Ê Ê
Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê
,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,Ê ,ÊÊ ,Ê ,Ê ,Ê ,Ê -Ê -Ê -Ê -Ê -Ê -Ê -Ê -Ê -Ê -Ê -Ê -Ê -Ê -Ê
Ê
Ê
/Þ«iÊ vÊÊ
ÌÀ>VÌÊ Ê
Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
Ê
Ê
Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
* Ê
Ê
Ê
È
Ê
Ê
ÌÀ>VÌÊ> Õ ÌÊÊ / fÊ / 1-fÊ
Ç]£Îä]£äÇÊ x] ää]ÓnÈÊ n]Îä ]Ó£ Ê Î]£Ó ]ÇnäÊ £ä]x£ ] ÇÎÊ ]{{Ç]äÎ Ê È]Îän]ÈxÈÊ Î]xäx]nn Ê Ç]nÓä]ÈÈÇÊ Ç]nÓn]ÈnÇÊ n] ÇÎ]Ó xÊ n]{În]È nÊ £Î]{ ]ÈÓÇÊ {]Çä ]ÓnäÊ Î]nÇ{]äääÊ Ó]{Ç£]ÇääÊ {]ÈÎÓ]äääÊ È]£Èx] ÇnÊ x]nx ]ÎnÎÊ Ç]xÈÇ]{äÓÊ È]ÎÈ ]ÇÇäÊ Ó]Óxn]Ó xÊ È]ÎÎÈ]äääÊ x]ÈÓ ]nääÊ {]x{ä]äääÊ n]{Èä]{xäÊ x]x ä]ÈääÊ n]È È]xnxÊ £nÇ]{ä Ê ÓäÇ]£xäÊ { n]Ó£ÈÊ { n]Ó£ÈÊ { n]Ó£ÈÊ { n]Ó£ÈÊ { n]Ó£ÈÊ { n]Ó£ÈÊ { n]Ó£ÈÊ xÓÈ]x{ÓÊ xxx]{Ó{Ê xxx]{Ó{Ê xnÎ]£ ÈÊ xnÎ]£ ÈÊ £]ÎÈÈ]ΣÇÊ {]ÇnÓ]££äÊ £]ÓÈn]änÇÊ £]{ää]äääÊ xÎ]ääÇ]äääÊ nÈ]Çnn]xääÊ Ó{]n£Ó]nääÊ Ó{]n£Ó]nääÊ ÓÇ] £{]{ääÊ ÓÎ]ÓÈÓ]äääÊ Î£]ä£È]äääÊ Î£]ä£È]äääÊ Î£]ä£È]äääÊ Î£]ä£È]äääÊ ÓÎ]ÓÈÓ]äääÊ {È]xÓ{]äääÊ {Î]äx ]nääÊ {Î]äx ]nääÊ
£Ó]Ç ÓÊÊ £ä]xnxÊÊ £{] äÇÊÊ x]È£xÊÊ £n]nÇÎÊ £È] {nÊ ££]ΣnÊ ÈÓ äÊ £Î]äÈÓÊ £{]ä{xÊ £È]ä nÊ £x]£Î Ê Ó{]Ó£ Ê n]{{ Ê È] xäÊ {]{Î{Ê n]ΣäÊ ££]äÈÓÊ £ä]x£ÓÊ £Î]xÇÈÊ ££] £ÓÊ {]äx£Ê ££]ÎÈÇÊ £ä]£ääÊ n]£{xÊ £x]£ÇnÊ £ä]äÎäÊ £x]ÈäÓÊ ÎÎÈÊ ÎÇÓÊ n {Ê n {Ê n {Ê n {Ê n {Ê n {Ê n {Ê {xÊ ÈÊ ÈÊ £]ä{ÈÊÊ £]ä{ÈÊÊ Ó]{x£Ê n]xÇ Ê Ó]ÓÇxÊ Ó]x£ÓÊÊ x]ä ÈÊ £xx]ÇäÓÊ {Î]ÎnxÊ {Î]ÎnxÊ xä]änäÊ {£]ÇÎÎÊ xx]È{{Ê xx]È{{Ê xx]È{{Ê xx]È{{Ê {£]ÇÎÎÊ nÎ]{ÈÈÊ ÇÇ]Óx£Ê ÇÇ]Óx£Ê
Ê Ê >ÌÕÀ ÌÞÊ Ê
Ê , Ã Ê i`}i`Ê Ê
£ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ £ÃÌÊÓääxÊ Ó `ÊÓääxÊ Ó `ÊÓääxÊ Ó `ÊÓääxÊ ÎÌ ÊÓääxÊ ÎÌ ÊÓääxÊ ÎÌ ÊÓääxÊ {Ì ÊÓääxÊ {Ì ÊÓääxÊ {Ì ÊÓääxÊ ÎÌ ÊÓääxÊ £ÃÌÊÓääxÊ ÎÌ ÊÓääxÊ £ÃÌÊÓääxÊ Ó `ÊÓääxÊ Ó `ÊÓääxÊ ÎÌ ÊÓää Ê ÎÌ ÊÓää Ê ÎÌ ÊÓää Ê ÎÌ ÊÓää Ê ÎÌ ÊÓää Ê ÎÌ ÊÓää Ê ÎÌ ÊÓää Ê ÎÌ ÊÓää Ê ÎÌ ÊÓää Ê ÎÌ ÊÓää Ê ÎÌ ÊÓääxÊ ÎÌ ÊÓääxÊ
1-fÉfÊ 1-fÉfÊ 1-fÉfÊ 1-fÉfÊ 1,"ÉfÊ 1,"ÉfÊ 1,"ÉfÊ 1,"ÉfÊ 1,"ÉfÊ 1,"ÉfÊ 1,"ÉfÊ 1,"ÉfÊ 1,"ÉfÊ 1-fÉfÊ 1-fÉfÊ 1-fÉfÊ 1-fÉfÊ 1,"ÉfÊ 1-fÉfÊ 1-fÉfÊ 1-fÉfÊ 1-fÉfÊ 1-fÉfÊ 1-fÉfÊ 1-fÉfÊ 1-fÉfÊ 1-fÉfÊ 1-fÉfÊ 1-fÉ À>â > ÊÊ 1-fÉ À>â > Ê 1-fÉ* Õ `Ê-ÌiÀ }Ê 1-fÉ* Õ `Ê-ÌiÀ }Ê 1-fÉ* Õ `Ê-ÌiÀ }Ê 1-fÉ* Õ `Ê-ÌiÀ }Ê 1-fÉ* Õ `Ê-ÌiÀ }Ê 1-fÉ* Õ `Ê-ÌiÀ }Ê 1-fÉ* Õ `Ê-ÌiÀ }Ê 1-fÉ* Õ `Ê-ÌiÀ }Ê 1-fÉ* Õ `Ê-ÌiÀ }Ê 1-fÉ* Õ `Ê-ÌiÀ }Ê 1-fÉ* Õ `Ê-ÌiÀ }Ê 1-fÉ* Õ `Ê-ÌiÀ }Ê 1,"É1-fÊ 1,"É1-fÊ 1,"É1-fÊ 1-fÉfÊ ÌiÀiÃÌÊ,>ÌiÊ ÌiÀiÃÌÊ,>ÌiÊ L ÀÊ,>ÌiÊ L ÀÊ,>ÌiÊ L ÀÊ,>ÌiÊ L ÀÊ,>ÌiÊ L ÀÊ,>ÌiÊ L ÀÊ,>ÌiÊ L ÀÊ,>ÌiÊ L ÀÊ,>ÌiÊ L ÀÊ,>ÌiÊ L ÀÊ,>ÌiÊ L ÀÊ,>ÌiÊ L ÀÊ,>ÌiÊ
* Ã Ì Ê «ÕÀV >ÃiÊÃ> iÊ > iÊ Ê Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê 6Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
*À ÌiVÌi`Ê Ìi Ê ÀÊÌÀ> Ã>VÌ Ê
> V > Ê ÛiÃÌ i ÌÊ > V > Ê ÛiÃÌ i ÌÊ > V > Ê ÛiÃÌ i ÌÊ > V > Ê ÛiÃÌ i ÌÊ > V > Ê ÛiÃÌ i ÌÊ > V > Ê ÛiÃÌ i ÌÊ > V > Ê ÛiÃÌ i ÌÊ > V > Ê ÛiÃÌ i ÌÊ > V > Ê ÛiÃÌ i ÌÊ > V > Ê ÛiÃÌ i ÌÊ > V > Ê ÛiÃÌ i ÌÊ > V > Ê ÛiÃÌ i ÌÊ > V > Ê ÛiÃÌ i ÌÊ > V > Ê ÛiÃÌ i ÌÊ > V > Ê ÛiÃÌ i ÌÊ > V > Ê ÛiÃÌ i ÌÊ > V > Ê ÛiÃÌ i ÌÊ > V > Ê ÛiÃÌ i ÌÊ > V > Ê ÛiÃÌ i ÌÊ > V > Ê ÛiÃÌ i ÌÊ ÛiÃÌ i ÌÊ«À iVÌÊ ÛiÃÌ i ÌÊ«À iVÌÊ ÛiÃÌ i ÌÊ«À iVÌÊ ÛiÃÌ i ÌÊ«À iVÌÊ ÛiÃÌ i ÌÊ«À iVÌÊ ÛiÃÌ i ÌÊ«À iVÌÊ ÛiÃÌ i ÌÊ«À iVÌÊ ÛiÃÌ i ÌÊ«À iVÌÊ -> iÃÊÌ Ê À>â Ê -> iÃÊÌ Ê À>â Ê -> iÃÊÌ Ê ÕÀ «iÊ -> iÃÊÌ Ê ÕÀ «iÊ -> iÃÊÌ Ê ÕÀ «iÊ -> iÃÊÌ Ê ÕÀ «iÊ -> iÃÊÌ Ê ÕÀ «iÊ -> iÃÊÌ Ê ÕÀ «iÊ -> iÃÊÌ Ê ÕÀ «iÊ -> iÃÊÌ Ê ÕÀ «iÊ -> iÃÊÌ Ê ÕÀ «iÊ -> iÃÊÌ Ê ÕÀ «iÊ -> iÃÊÌ Ê ÕÀ «iÊ -> iÃÊÌ Ê ÕÀ «iÊ ÛiÃÌ i ÌÊ*À ÞiVÌÊ ÛiÃÌ i ÌÊ*À ÞiVÌÊ ÛiÃÌ i ÌÊ*À ÞiVÌÊ > V > Ê ÛiÃÌ i ÌÊ `Ê>LÀ >`ÊÀÕ iÊ£{{>Ê `Ê>LÀ >`ÊÀÕ iÊ£{{>Ê -Þ ` V>Ìi`Ê > Ê 1-f{ÇxÊ -Þ ` V>Ìi`Ê > Ê 1-f{ÇxÊ -Þ ` V>Ìi`Ê > Ê 1-f{ÇxÊ -Þ ` V>Ìi`Ê > Ê 1-f{ÇxÊ -Þ ` V>Ìi`Ê > Ê 1-f{ÇxÊ -Þ ` V>Ìi`Ê > Ê 1-f{ÇxÊ -Þ ` V>Ìi`Ê > Ê 1-f{ÇxÊ -Þ ` V>Ìi`Ê > Ê 1-f{ÇxÊ -Þ ` V>Ìi`Ê > Ê 1-f{ÇxÊ -Þ ` V>Ìi`Ê > Ê 1-f{ÇxÊ -Þ ` V>Ìi`Ê > Ê -Þ ` V>Ìi`Ê > Ê
ÊÊ Õ ÌÊ
/ fÊ
Ç]£Îä]£äÇÊ x] ää]ÓnÈÊ n]Îä ]Ó£ Ê Î]£Ó ]ÇnäÊ £ä]x£ ] ÇÎÊ ]{{Ç]äÎ Ê È]Îän]ÈxÈÊ Î]xäx]nn Ê Ç]nÓä]ÈÈÇÊ Ç]nÓn]ÈnÇÊ n] ÇÎ]Ó xÊ n]{În]È nÊ £Î]{ ]ÈÓÇÊ {]Çä ]ÓnäÊ Î]nÇ{]äääÊ Ó]{Ç£]ÇääÊ {]ÈÎÓ]äääÊ È]£Èx] ÇnÊ x]nx ]ÎnÎÊ Ç]xÈÇ]{äÓÊ È]ÎÈ ]ÇÇäÊ Ó]Óxn]Ó xÊ È]ÎÎÈ]äääÊ x]ÈÓ ]nääÊ {]x{ä]äääÊ n]{Èä]{xäÊ x]x ä]ÈääÊ n]È È]xnxÊ £nÇ]{ä Ê ÓäÇ]£xäÊ { n]Ó£ÈÊ { n]Ó£ÈÊ { n]Ó£ÈÊ { n]Ó£ÈÊ { n]Ó£ÈÊ { n]Ó£ÈÊ { n]Ó£ÈÊ xÓÈ]x{ÓÊ xxx]{Ó{Ê xxx]{Ó{Ê xnÎ]£ ÈÊ xnÎ]£ ÈÊ £]ÎÈÈ]ΣÇÊ {]ÇnÓ]££äÊ £]ÓÈn]änÇÊ £]{ää]äääÊ xÎ]ääÇ]äääÊ nÈ]Çnn]xääÊ Ó{]n£Ó]nääÊ Ó{]n£Ó]nääÊ ÓÇ] £{]{ääÊ ÓÎ]ÓÈÓ]äääÊ Î£]ä£È]äääÊ Î£]ä£È]äääÊ Î£]ä£È]äääÊ Î£]ä£È]äääÊ ÓÎ]ÓÈÓ]äääÊ {È]xÓ{]äääÊ {Î]äx ]nääÊ {Î]äx ]nääÊ
Ê / 1-fÊ
£Ó]Ç ÓÊ £ä]xnxÊ £{] äÇÊ x]È£xÊ £n]nÇÎÊ £È] {nÊ ££]ΣnÊ È]Ó äÊ £{]äÎ£Ê £{]ä{xÊ £È]ä nÊ £x]£Î Ê Ó{]Ó£ Ê n]{{ Ê È] xäÊ {]{Î{Ê n]ΣäÊ ££]äÈÓÊ £ä]x£ÓÊ £Î]xÇÈÊ ££]{ÓnÊ {]äx£Ê ££]ÎÈÇÊ £ä]£ääÊ n]£{xÊ £x]£ÇnÊ £ä]äÎäÊ £x]ÈäÓÊ ÎÎÈÊ ÎÇÓÊ n {Ê n {Ê n {Ê n {Ê n {Ê n {Ê n {Ê {xÊ ÈÊ ÈÊ £]ä{ÈÊ £]ä{ÈÊ Ó]{x£Ê n]xÇ Ê Ó]ÓÇxÊ Ó]x£ÓÊ x]ä ÈÊ £xx]ÇäÓÊ {{]x£xÊ {{]x£xÊ xä]änäÊ {£]ÇÎÎÊ xx]È{{Ê xx]È{{Ê xx]È{{Ê xx]È{{Ê {£]ÇÎÎÊ nÎ]{ÈÈÊ ÇÇ]Óx£Ê ÇÇ]Óx£Ê
Õ ÌÊ vvÊ Ê «À ÌiVÌi`Ê Ìi Ê / fÊ Ê/ 1-fÊ
È]ÇÓä]{ÓxÊ x]x {]{Ç£Ê Ç]nÈ ]Ó{nÊ Ó] Èn]ää£Ê £ä]È{ ]Ó{ÓÊ ]Èn£]ä{ÈÊ È]{ÈÎ]È{ Ê Î]{Óä]ÎÇnÊ Ç]È£Ó]ää Ê Ç]ÈÓä]xÎÎÊ n]Ç n]{{nÊ n]{ÎÎ]{ÈÈÊ £Î]äxn]xÎ Ê {]ÇÓ£]änxÊ Î]nnx]xnÎÊ Ó]{nä]ÇÈÎÊ {]ÈÎn]Ç£ÈÊ x] {Ç]xÇÇÊ x]ÈäÎ]nÇxÊ Ç]ÓÈÇ]ÈnxÊ È]£ÎÈ]£xäÊ Ó]£Çx]xÈÎÊ È]£Î{]nÇ Ê x]xÇÇ]£nÎÊ {]{ÈÓ]£ {Ê n]ÎÈx]x ÓÊ x]xÇÇ]äÓ{Ê n]È{{]£ÓÓÊ £n{]xÎÈÊ ÓäÎ]Èx{Ê {Ç ]xÎnÊ {Ç ]xÎnÊ {Ç ]xÎnÊ {Ç ]xÎnÊ {Ç ]xÎnÊ {Ç ]xÎnÊ {Ç ]xÎnÊ xäÈ]näÎÊ xÎ{]ÈäÓÊ xÎ{]ÈäÓÊ xÈ£]ÎÎÓÊ xÈ£]ÎÎÓÊ £]În{]{nÈÊ {]nÎ ] ÇÊ £]ÓnÈ]äÈÎÊ £]{ää]ÓnäÊ xx]Ç{ä]äääÊ nÎ]È£ä]ääÊ ÓÓ]Ó È]äääÊ ÓÓ]Ó È]äääÊ Óx]änÎ]äääÊ Óä] äÓ]xääÊ ÓÇ]nÇä]äääÊ ÓÇ]nÇä]äääÊ ÓÇ]nÇä]äääÊ ÓÇ]nÇä]äääÊ Óä] äÓ]xääÊ {£]näx]äääÊ Î ]ä£n]äääÊ Î ]ä£n]äääÊ
£Ó]äxÇÊ £ä]äÎÇÊ £{]££nÊ x]ÎÓxÊ £ ]£äxÊ £Ç]ÎÈnÊ ££]x ÈÊ È]£ÎÈÊ £Î]ÈxÈÊ £Î]ÈÇÓÊ £x]ÇnxÊ £x]£ÎäÊ ÓÎ]{ÓnÊ n]{ÇäÊ È] Ç£Ê {]{x£Ê n]ÎÓÓÊ £ä]ÈÇäÊ £ä]äxÎÊ £Î]äÎ Ê ££]ää Ê Î] äÎÊ ££]ääÈÊ £ä]ääÈÊ n]ääxÊ £x]äänÊ £ä]ääxÊ £x]xänÊ ÎÎ£Ê ÎÈxÊ nÈäÊ nÈäÊ nÈäÊ nÈäÊ nÈäÊ nÈäÊ nÈäÊ ä Ê x Ê x Ê £]ääÇÊ £]ääÇÊ Ó]{n{Ê n]ÈnÎÊ Ó]ÎäÇÊ Ó]x£ÓÊ £ää]äääÊ £xä]äääÊ {ä]äääÊ {ä]äääÊ {x]äääÊ ÎÇ]xääÊ xä]äääÊ xä]äääÊ xä]äääÊ xä]äääÊ ÎÇ]xääÊ Çx]äääÊ Çä]äääÊ Çä]äääÊ
> iÊ Ê
VV Õ ÌÊ Ìi ÊÀi >Ìi`Ê Ê / fÊ
/ iÊ i« Ã ÌÊ / iÊ i« Ã ÌÊ / iÊ i« Ã ÌÊ / iÊ i« Ã ÌÊ / iÊ i« Ã ÌÊ / iÊ i« Ã ÌÊ / iÊ i« Ã ÌÊ / iÊ i« Ã ÌÊ / iÊ i« Ã ÌÊ / iÊ i« Ã ÌÊ / iÊ i« Ã ÌÊ / iÊ i« Ã ÌÊ / iÊ i« Ã ÌÊ / iÊ i« Ã ÌÊ / iÊ i« Ã ÌÊ / iÊ i« Ã ÌÊ / iÊ i« Ã ÌÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ "Ì iÀÊ ÕÀÀi ÌÊ ÃÃiÌÃÊ `ÃÊ `ÃÊ >L Ì iÃÊÜ Ì Ê > ÃÊÊ >L Ì iÃÊÜ Ì Ê > ÃÊ >L Ì iÃÊÜ Ì Ê > ÃÊ >L Ì iÃÊÜ Ì Ê > ÃÊ >L Ì iÃÊÜ Ì Ê > ÃÊ >L Ì iÃÊÜ Ì Ê > ÃÊ >L Ì iÃÊÜ Ì Ê > ÃÊ >L Ì iÃÊÜ Ì Ê > ÃÊ >L Ì iÃÊÜ Ì Ê > ÃÊ >L Ì iÃÊÜ Ì Ê > ÃÊ >L Ì iÃÊÜ Ì Ê > ÃÊ >L Ì iÃÊÜ Ì Ê > ÃÊ
{ä ]ÈnÓÊ Îäx]n£xÊ {Î ] Ç£Ê £È£]ÇÇ Ê £Ó ]ÈÈÓÊ Óäx]änÇÊ £xÈ]£äÓÊ n{]ΣÎÊ Óä{]Ç{ÓÊ Óä£] ÇÇÊ £È ]£È{Ê ÓÓÊ {Σ]xx{Ê Ó{ ]xÈÈÊ Óx£]ÓÇÈÊ £Îä]nÇxÊ £Ç£]£È Ê Ó£È]£ÓÎÊ Óxx]xänÊ Ó ]Ç£ÇÊ ÓÎÎ]ÈÓäÊ nÓ]ÇÎÓÊ Óä£]£Ó£Ê xÓ]È£ÇÊ ÇÇ]näÈÊ {]nxnÊ £Î]xÇÈÊ xÓ]{ÈÎÊ {]änÎÊ {]{ {Ê x{ÇÊ £]{nÈÊ Ó]Ó£ÇÊ Ó] xÊ Î]ÇÓnÊ {]{£ÎÊ {] nÈÊ x]nÇ{Ê È]nÓ Ê Ç]ÎxÈÊ n]ÓnäÊ n]Ç nÊ £Èx]ÈÎnÊ xÇ{]äÓnÊ £x{]n{ÎÊ È]ä{xÊ ££]n £Ê Î] äÓÊ Èä]Ç£ÈÊ Èä]änÈÊ ÈÓ]ÓÈÓÊ nn]xÇ{Ê £Ó£]£È£Ê ££Ç]ÓÓ{Ê ££ ]{££Ê £ÓÎ]Î{nÊ nÈ]ÈäÈÊ £Çx]£näÊ Î £]ÇÈÓÊ £ {]£xnÊ
Õ ÌÊ
Ê / 1-fÊ
ÇÎxÊ x{ Ê Çn Ê Ó äÊ ÓÎÎÊ ÎÈnÊ ÓnäÊ £x£Ê ÎÈÇÊ ÎÈÓÊ ÎäÎÊ Ê ÇÇ{Ê {{nÊ {x£Ê ÓÎxÊ ÎäÇÊ ÎnnÊ {xnÊ xÎnÊ {£ Ê £{nÊ ÎÈ£Ê {Ê £{äÊ £ÇäÊ Ó{Ê {Ê ÇÊ nÊ Ê ÎÊ {Ê xÊ ÇÊ nÊ Ê ££Ê £ÓÊ £ÎÊ £xÊ £ÈÊ Ó ÇÊ £]äÎäÊ ÓÇnÊ ££Ê Ó£Ê ÇÊ £ä Ê £änÊ ££ÓÊ £x Ê Ó£ÇÊ Ó£äÊ Ó£{Ê ÓÓ£Ê £xxÊ Î£{Ê ÇäÎÊ Î{nÊ
,i> âi`Ê / fÊ
{ä ]ÈnÓ®Ê Îäx]n£x®Ê {Î ] Ç£®Ê £È£]ÇÇ ®Ê £Ó ]ÈÈÓÊ Óäx]änÇÊ £xÈ]£äÓÊ n{]Î£Î®Ê Óä{]Ç{Ó®Ê Óä£] ÇÇ®Ê £È ]£È{®Ê ÓÓÊ {Σ]xx{®Ê Ó{ ]xÈÈ®Ê Óx£]ÓÇÈ®Ê £Îä]nÇx®Ê £Ç£]£È ®Ê Ó£È]£ÓÎ®Ê Óxx]xän®Ê Ó ]Ç£Ç®Ê ÓÎÎ]ÈÓä®Ê nÓ]ÇÎÓ®Ê Óä£]£Ó£®Ê xÓ]È£Ç®Ê ÇÇ]näÈ®Ê {]nxn®Ê £Î]xÇÈ®Ê xÓ]{ÈÎ®Ê {]änÎÊ {]{ {Ê x{ÇÊ £]{nÈÊ Ó]Ó£ÇÊ Ó] xÊ Î]ÇÓnÊ {]{£ÎÊ {] nÈÊ x]nÇ{Ê È]nÓ Ê Ç]ÎxÈÊ n]ÓnäÊ n]Ç nÊ £Èx]ÈÎnÊ xÇ{]äÓnÊ £x{]n{ÎÊ È]ä{x®Ê ££]n £Ê Î] äÓÊ Èä]Ç£È®Ê Èä]änÈ®Ê ÈÓ]ÓÈÓ®Ê nn]xÇ{®Ê £Ó£]£È£®Ê ££Ç]ÓÓ{®Ê ££ ]{££®Ê £ÓÎ]Î{n®Ê nÈ]ÈäÈ®Ê £Çx]£nä®Ê Î £]ÇÈÓ®Ê £ {]£xn®Ê
vviVÌÊ Ê V iÊ Ê Ê ÌÊÀi> âi`Ê Ê / 1-fÊ / fÊ / 1-f
ÇÎx®Ê x{ ®Ê Çn ®Ê Ó ä®Ê ÓÎÎÊ ÎÈnÊ ÓnäÊ £x£Ê ÎÈÇ®Ê ÎÈÓ®Ê ÎäÎ®Ê Ê ÇÇ{®Ê {{n®Ê {x£®Ê ÓÎx®Ê ÎäÇ®Ê Înn®Ê {xn®Ê xÎn®Ê {£ ®Ê £{n®Ê ÎÈ£®Ê {®Ê £{ä®Ê £Çä®Ê Ó{®Ê {®Ê ÇÊ nÊ Ê ÎÊ {Ê {Ê ÇÊ nÊ Ê ££Ê £ÓÊ £ÎÊ £xÊ £ÈÊ Ó ÇÊ £]äÎäÊ ÓÇnÊ ££®Ê Ó£Ê ÇÊ £ä ®Ê £än®Ê ££Ó®Ê £x ®Ê Ó£Ç®Ê Ó£ä®Ê Ó£{®Ê ÓÓ£®Ê £xx®Ê Σ{®Ê ÇäÎ®Ê Î{nÊ
Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê Ê
Ç
"/ -Ê/"Ê/ Ê " -" / Ê Ê-/ / / ÌÊ`iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ/À> à >Ì Ê vÊÌ iÊ À } > Ê Ê-«> à ®
"/ ÊÓÇÊ Ê " / -Ê Ê, -/, / " ÀiVÌÊ}Õ>À> ÌiiÃ\ / Ê}Õ>À> ÌiiÊ > V Ê ViÊvÕ ÊV « > ViÊÜ Ì Ê> ÞÊ> `Ê> ÊVÕÀÀi ÌÊ> `ÊvÕÌÕÀiÊ L }>Ì ÃÊ VÕÀÀi`ÊLÞÊ «ÀiÃ>ÃÊ * Ê-° °Ê> `ÊÃÕLà ` >À iÃ]ÊÌ iÊ «> ÞÊÃiÌÊÕ«Ê>ÊwÀÃÌÊ ÀÌ}>}iÊ vÊ/ fÊ{]{n£] Ê Ê/ 1-fÊn]ä{£Ê ÊÌ iÊ iââ> iÊ> `ÊÓ `]ÊÎÀ`]Ê{Ì Ê> `ÊxÌ Êy ÀÃÊ vÊÌ iÊLÕ ` }Ê V>Ìi`Ê>ÌÊ }ÕÃÌ >ÃÊ£Î{Î]Ê«iÀÊ«ÕL VÊ`ii`Ê`>Ìi`Ê >ÀV Ê£È]ÊÓääÎÊ Liv ÀiÊÌ iÊ Ì>ÀÞÊ À µÕiÊ À}> ÊÕ `iÀÊ` }iÃÌÊ Õ LiÀÊ£Ó ä° ` ÀiVÌÊ}Õ>À> ÌiiÃ\ / iÊÃÞ ` V>Ìi`Ê > Ê> `ÊÌ iÊL `Ê ÃÃÕ> ViÊ vÊÌ iÊÃÕLà ` >ÀÞÊ ÛiÀà iÃÊ * Ê-° °]ÊÌ À Õ} Ê ÌÃÊ }i VÞÊ ÊÌ iÊ >Þ > Ê Ã > `Ã]ÊÜiÀiÊ}Õ>À> Ìii`ÊLÞÊ «ÀiÃ>ÃÊ * Ê-° ° ÊÌ iÊV>ÃiÊ vÊ ` ÀiVÌÊ}Õ>À> ÌiiÃ]ÊÌ iÊVÀi` Ì ÀÊ vÊÌ iÊ}Õ>À> ÌiiÊL>V i`ÊLÞÊ «ÀiÃ>ÃÊ * Ê-° °]Ê ÊÌ iÊ `iÀÊ vÊÌ iÊ` VÕ i Ì]Êà ViÊÃÕV Ê` VÕ i ÌÃÊ>ÀiÊÌÀ> ÃviÀ>L i° «ÀiÃ>ÃÊ * Ê-° °Ê}Õ>À> Ìii`ÊÌ iÊV « > ViÊLÞÊ >Ê*>«i iÀ>Ê`i Ê* >Ì>Ê-° °ÊÜ Ì ÊÌ iÊ i>ÃiÊV ÌÀ>VÌÊ ÊÌ iÊ >V iÀÞÊÌ ÃÊV «> ÞÊÃÕLÃVÀ Li`ÊÜ Ì Ê Ì L> Ê ° ° ,iÃÌÀ VÌ Ã\ «ÀiÃ>ÃÊ * Ê-° °]Ê>ÃÊ>ÊÀiÃÕ ÌÊ vÊViÀÌ> Ê`iLÌÊV ÌÀ>VÌÃ]Ê >ÃÊÌ ÊV « ÞÊÜ Ì ÊViÀÌ> Êw > V > Ê ` V>Ì ÀÃʺV Ûi > Ìû®]Ê>ÃÊÌ Ê > Ì> Ê>Ê Õ ÊiµÕ ÌÞ]Ê>Ê >Ý Õ Ê iÛiÀ>}iÊ À>Ì Ê> `Ê>Ê Õ Ê iÛi Ê vÊw > V > ÊiÝ«i ÃiÃÊ i`} }]Ê ÌÊ iVi LiÀÊΣ]ÊÓää{]ÊÃÕV Ê ` V>Ì ÀÃÊ>ÀiÊ> « ÞÊV « i`ÊÜ Ì ° >ÜÃÕ Ìà >®Ê ÌÊ iVi LiÀÊΣ]ÊÓää{ÊÌ iÊÃÕLà ` >À iÃÊ ÀiÃÌ> Ê V Ê-° °Ê> `Ê ÀiÃÌ> Ê ÀiViÝÊ-° °Ê >ÛiÊ«>ÀÌ V «>Ìi`Ê Ê>Ê Õ LiÀÊ vÊ«À Vii` }ÃÊ Û Û }Ê}À ÜiÀÃÊ> `Ê > ` `iÀÃÊ Ài}>À` }ÊL Õ `>À iÃÊ> `Ê Ì iÀÊ` ëÕÌiÃ°Ê ÌÊ iVi LiÀÊΣ]ÊÓää{Ê ÀiÃÌ> Ê V Ê-° °Ê >ÃÊ>Ê«À Û Ã Ê vÊ/ fÊ£ää]äää° Ê
Ê Ì iÀÊÀiëiVÌ]Ê ÀiÃÌ> Ê V Ê-° °Ê ÃÊ Û Ûi`Ê ÊÌ iÊv Ü }Ê«À Vii` }ÃÊ>ÌÊ iVi LiÀÊΣ]ÊÓää{°
ÕÀÌÊ Ê
ÕÀÌÊ vÊwÀÃÌÊ ÃÌ> ViÊ vÊ > iÌiÊÊ
>ÃiÊ Ê cÊ
Ê {]{ÈnÊ
Ê"À } Ê
ÊÊ Ê*À Vi`ÕÀ> Ê« >Ãi
V >ÀÞÊ >L ÕÀÊ >L ÌÞÊ
1 v>Û À>L iÊÃi Ìi ViÊ ««i> i`Ê> `Ê Ì ÊÛ>V>ÌiÊÜ>ÃÊw i`Ê
Õ ÌÃÊ Û Ûi` / f
Îää]äää
L®Ê Ê Õ}ÕÃÌÊÓää£]ÊÌ iÊ-Õ«Ài iÊ ÕÀÌÊÕ > Õà ÞÊV wÀ i`ÊÌ iÊÀÕ iÊÌ >ÌÊ>VVi«Ìi`ÊÌ iÊV > Ê«ÀiÃi Ìi`ÊLÞÊ * ]Ê`iV >À }ÊÌ >ÌÊÌ iÊ i ÌÀ> Ê > Ê >`ÊÌ Ê«>ÞÊÌ iÊ«À Ãà ÀÞÊ ÌiÃÊ ÃÃÕi`ÊLÞÊÌ >ÌÊ«ÕL VÊL `Þ]Ê«ÕÀÃÕ> ÌÊÌ ÊÌ iÊV> VÕ >Ì ÊÀÕ iÃÊV Ì> i`Ê ÊÌ i ÊÕ« Ê ÃÃÕ> ViÊ> `Ê ÌÊÕ `iÀÊ>Ê iÜÊV> VÕ >Ì Êv À Õ >ÊÃÕLÃiµÕi Ì ÞÊiÃÌ>L à i`ÊLÞÊ Ì iÊ`iLÌ À]Ê/ iÊ i ÌÀ> Ê > Ê` `Ê ÌÊ>VVi«ÌÊÌ iÊÀÕ i]Ê Û }Ê>ÊÌiV V> Ê « Ãà L ÌÞÊÌ Ê>ÀÀ ÛiÊÌ ÊÌ iÊ`iÌiÀ >Ì Ê vÊÌ iÊ«À «iÀÊ> Õ Ì]Ê ÊÛ iÜÊ vÊÌ >ÌÊÀivÕÃ> ]Ê * Ê >ÃÊ >`ÊÌ ÊLi} Ê iÜÊ i}> Ê«À Vi`ÕÀiÃÊ ÊÜ V ÊÌ iÊ i ÌÀ> Ê > Ê >ÃÊV Ì Õi`Ê«ÀiÃi Ì }Ê> ÞÊ >Ê vÊ` >Ì ÀÞÊ Ì Ã°
n
UÊ "Ì iÀÊ >ÜÃÕ ÌÃ Ê >®Ê />ÝÊ >ÜÃÕ ÌÊw i`Ê>}> ÃÌÊ * Ê i Õ Ã>Ê-° °Êv ÀÊ>ÊV > Ê ÛiÀÊÌ>ÝÊÃiÌÌ i i ÌÊ >`iÊLÞÊÌ iÊ-° ° °Ê> `ÊÀi >Ìi`ÊÌ ÊÌ iÊ>««À> Ã> Ê vÊÌ iÊÛ> ÕiÊ vÊà >ÀiÃÊ ÌiÀ > ÞÊÌÀ> ÃviÀÀi`°Ê / ÃÊ>VÌ Ê ÃÊ Ê«À ViÃÃÊ vÊ>««i> ÊLiv ÀiÊÌ iÊ ÕÀÌÊ vÊ ««i> Ê vÊ-> Ì >} ÊV>ÃiÊ cÊ£ÇÈÇ äή°Ê/ iÊV «> ÞÊ >ÜÞiÀ½ÃÊ >ÛiÊ>Êv>Û À>L iÊ « ]ÊÌ iÀiv Ài]Ê Ê> Ü> ViÃÊ >ÛiÊLii Ê >`i° Ê L®Ê ÃÊ vÊ iVi LiÀÊΣ]ÊÓää{ÊÌ iÊÃÕLà ` >ÀÞÊ*>«i iÀ>Ê`iÊ >Ê* >Ì>Ê-° °Ê vÊ À}i Ì >]ÊV «iÃÊÜ Ì ÊÃiÛiÀ> Ê >ÜÃÕ ÌÃÊ Ê>Ê Õ LiÀÊ vÊ À}i Ì iÊ >L ÀÊV ÕÀÌÃ]ÊÜ V Ê Û ÛiÊV ÌÌi`Ê > Õ ÌÃÊ vÊ/ fÊÓÈÎ]£ÈÎÊ Ê/ 1-fÊ{ÇÓ]Ê> `Ê >ÛiÊLii Ê`Õ ÞÊ«À Û Ã i`° Ê V®Ê ÌÊ iVi LiÀÊΣ]ÊÓää{ÊÌ iÊÃÕLà ` >ÀÞÊ Ê-° °Êv>ViÃÊ>Ê >L ÀÊ >ÜÃÕ ÌÊÌ iÊ> Õ ÌÊ Û Ûi`Ê vÊÜ V Ê ÃÊ/ fÊÇÓ]äÇÓÊ Ê/ 1-fÊ£Ó ]Ê Ê«À Û Ã Ê >ÃÊLii ÊÃiÌÊÕ«Êv ÀÊÌ ÃÊ V Vi«Ì° Ê `®Ê ÌÊ iVi LiÀÊΣ]ÊÓää{ÊÌ iÊÃÕLà ` >ÀÞÊ * Ê i Õ Ã>Ê-° °Êv ÜÃÊÌÜ Ê >L ÀÊ >ÜÃÕ ÌÃÊLiv ÀiÊÌ iÊ ÕÀÌÊ vÊwÀÃÌÊ ÃÌ> ViÊ vÊ > >ÊÌ iÊ> Õ ÌÊ Û Ûi`Ê vÊÜ V Ê ÃÊ / fÊ £ä{]x Ê Ê / 1-fÊ £nn°Ê Ê «À Û Ã Ê >ÃÊ Lii Ê ÃiÌÊ Õ«Ê v ÀÊ Ì ÃÊ V Vi«Ì]Ê ÕÀÌ iÀ]Ê >Ê >ÜÃÕ ÌÊ Ü>ÃÊ V V Õ`i`]Ê Ü V Ê i> ÌÊ Ì iÊ «>Þ i ÌÊ vÊ / fÊ {ää]äääÊ Ê / 1-fÊÇ£n° UÊ "Ì iÀÊV Ì }i V iÃ Ê >®Ê ,ië à L ÌÞÊ ÊÀiÌÕÀ Ê vÊiÝ« ÀÌÃÊÕ `iÀÊV à } i ÌÊ> Õ Ì }ÊÌ Ê/ fÊÎÓ]äÇÎ]{ ÎÊ Ê/ 1-fÊxÇ]x{£Ê>ÌÊ iVi LiÀÊΣ]ÊÓää{Ê> `Ê/ fÊ{{]ÓÇ£]{Î{Ê Ê/ 1-fÊÇÓ]ÇÎnÊ ÊÓääΰ Ê L®Ê ÃÊ vÊ iVi LiÀÊΣ]ÊÓää{ÊÌ iÊ «> ÞÊ >ÃÊ Ê >L ÌÞÊv ÀÊÌ iÊV iVÌ ÊÕ« Ê >ÌÕÀ ÌÞÊ vÊÌ iÊ« ÀÌv Ê vÊ>Ãà } i`Ê > Ã°Ê ÃÊ vÊ iVi LiÀÊΣ]ÊÓääÎÊÌ ÃÊ L }>Ì Ê > Õ Ìi`ÊÌ Ê/ fÊ£x]ÎÓ{]{ÎÈÊ Ê/ 1-fÊÓx]£Çn° Ê V®Ê «ÀiÃ>ÃÊ * Ê-° Ê}Õ>À> ÌiiÃÊV « > ViÊ vÊ-7 *-ÊV ÌÀ>VÌÃÊà } i`ÊLÞÊ ÛiÀà iÃÊ * Ê-° °Ê > ÞÊÜ Ì Ê «Ê À}> Ê >ÃiÊ > Ê> `Ê Ì iÀÃ]ÊÀi >Ìi`ÊÌ Ê ÌiÀiÃÌÊ À>ÌiÃÊ>«« i`Ê>ÌÊÌ iÊ V> ÊÛ> ÕiÊ vÊ1-fÊÇ x]äää]äää° Ê `®Ê -ÕLà ` >À iÃÊ vÊÌ iÊ «> ÞÊ >ÛiÊ>««i> i`ÊLiv ÀiÊÌ iÊV ÕÀÌÊ vÊ À}i Ì iÊ >Ì ÊÌ ÊÃÕëi `Ê> `Ê> Õ Ê`iV à ÃÊLÞÊ vwV > Ê iÌÌiÀÊ vÊÌ iÊ i`iÀ> Ê ` ÃÌÀ>Ì Ê vÊ*ÕL VÊ V i]ÊÀi >Ì }ÊÌ ÊÌ>ÝiÃÊ> `Ê ÌiÀiÃÌÊ Êw > V > ÊÌÀ> Ã>VÌ ÃÊ vÊ£ xÊ> `Ê£ n]Ê> Õ Ì }ÊÌ ÊÎ]ÓÓä]n{ÎÊ À}i Ì iÊ«ià Ã]Ê« ÕÃÊ«i > Ì iÃÊ> `Ê ÌiÀiÃÌ°Ê ÊÌ iÊ « Ê vÊÌ iÊ «> ÞÊ> `Ê ÌÃÊV Õ Ãi Ã]ÊÌ iÃiÊÀiµÕ Ài i ÌÃÊÃ Õ `Ê ÌÊLiÊÃÕVViÃÃvÕ ]Ê>ÃÊÌÀ> Ã>VÌ ÃÊ >ÛiÊLii Ê i}> ÞÊ> `Ê>` ÃÌÀ>Ì Ûi ÞÊ«iÀv À i`Ê ÊV v À ÌÞÊÜ Ì ÊÌ iÊ VÕÀÀi ÌÊ i} à >Ì Ê> `ÊÌ iÀiv ÀiÊ Ê«À Û Ã ÃÊ >ÛiÊLii ÊÀiV À`i`Ê° UÊ - ÌÕ>Ì Ê Ê À}i Ì iÊ> `Ê1ÀÕ}Õ>Þ Ê
/ iÊ «> Þ½ÃÊ > V > Ê-Ì>Ìi i ÌÃÊ V Õ`iÊÌ iÊivviVÌÊ vÊÌ iÊVÕÀÀi ÌÊiV VÊV ÌiÝÌÊ vÊ À}i Ì iÊ> `Ê1ÀÕ}Õ>ÞÊ ÛiÀÊÌ iÊiV VÊ> `Êw > V > Ê« Ã Ì Ê vÊÀi >Ìi`Ê V «> iÃÊ ÊÃÕV ÊV Õ ÌÀ iÃ]Ê>VV À` }ÊÌ ÊÌ iÊ>` ÃÌÀ>Ì ÃÊiÛ> Õ>Ì Ã]Ê>ÃÊ>ÌÊÌ iÊ`>ÌiÊ vÊ«Ài«>À>Ì °Ê/ iÊÀi> ÊvÕÌÕÀiÊÀiÃÕ ÌÃÊÜ Ê`i«i `Ê ÊÌ iÊiÛ ÕÌ Ê vÊÃ> `Ê iV ið
"/ -Ê/"Ê/ Ê " -" / Ê Ê-/ / / ÌÊ`iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ/À> à >Ì Ê vÊÌ iÊ À } > Ê Ê-«> à ®
ÀiVÌÊ}Õ>À> ÌiiÃ\ Ê Ê Ê Õ>À> ÌiiÊVÀi` Ì À Ê Ê
Ì ÌÞÊ
Ê Ê Ê
Ê
Ê Ê Ê ,i >Ì Ê Ê
> V Ê ÊÊ
«ÀiÃ>ÃÊ * Ê-° °ÊÊ
v À > ÌÊÊ
« ÀÌÊ À`iÀÃÊ« >Vi`Ê
`ÕÃÌÀ >ÃÊ ÀiÃÌ> iÃÊ-° °Ê
` ÀiVÌÊÃÕLÃ ` >ÀÞÊ
i iÀ> Ê/Ài>ÃÕÀÞÊ vÊÌ iÊ,i«ÕL VÊ
* Ê i Õ Ã>Ê-° °Ê
` ÀiVÌÊ
i iÀ> Ê/Ài>ÃÕÀÞÊ vÊÌ iÊ,i«ÕL VÊ
* Ê i Õ Ã>Ê-° °Ê
i iÀ> Ê/Ài>ÃÕÀÞÊ vÊÌ iÊ,i«ÕL VÊ i iÀ> Ê/Ài>ÃÕÀÞÊ vÊÌ iÊ,i«ÕL VÊ
/Þ«iÊ vÊ}Õ>À> Ìii
Ê Ê ÃÃiÌÃÊ Û Ûi`Ê Ê
Ê
ÀÌ}>}iÊÊ
ÀÊÓ]Î]{Ê> `ÊxÊÊ
ÊÛ> ÕiÊ / fÊ
n]ä{£Ê
>V iÀÞÊÊ
È] ä£Ê
*À ÃÃ ÀÞÊ ÌiÃÊ
Ýi`Ê ÃÃiÌÃÊÊ
Ó]ÇÎ Ê
` ÀiVÌÊ
Ê vÊiÝV > }iÊ
Ýi`Ê ÃÃiÌÃÊ
Ó]Ó xÊ
>ÀÌÕ >ÃÊ * Ê-° °Ê
` ÀiVÌÊÃÕLÃ ` >ÀÞÊÊ
*À ÃÃ ÀÞÊ ÌiÃÊÊ
>V iÀÞÊÊ
£]Îä£Ê
`ÕÃÌÀ >ÃÊ ÀiÃÌ> iÃÊ-° °Ê
` ÀiVÌÊÃÕLÃ ` >ÀÞÊÊ
*À ÃÃ ÀÞÊ ÌiÃÊÊ
>V iÀÞÊÊ
£]äÇxÊ
ÕÃÌ ÃÊÊ
`ÕÃÌÀ >ÃÊ ÀiÃÌ> iÃÊ-° °ÊÊ
` ÀiVÌÊÃÕLÃ ` >ÀÞÊÊ
ÕÃÌ ÃÊ
* Ê/ ÃÃÕiÊ-° °Ê
` ÀiVÌÊ
i iÀ> Ê/Ài>ÃÕÀÞÊ vÊÌ iÊ,i«ÕL VÊ
* Ê >`iÀ>ÃÊ-° °Ê
>Ì > Ê ÕÃÌ ÃÊ-Õ«iÀ Ìi `i VÞÊ
ÌiÃÊÊ
/Þ«iÊ Ê
ÌiÃÊÊ
>V iÀÞÊÊ
ΣÓÊ
*À ÃÃ ÀÞÊ ÌiÃÊÊ
Ûi Ì À iÃÊ
ΣÓÊ
` ÀiVÌÊ
*À ÃÃ ÀÞÊ ÌiÃÊ
Ýi`Ê ÃÃiÌÃÊ
Ó xÊ £ÓäÊ
*À Ì Ã>Ê`i Ê*iÀÖÊ-° °Ê
` ÀiVÌÊÃÕLÃ ` >ÀÞÊÊ
Õ>À> ÌiiÊ iÌÌiÀÊÊ
>V iÀÞÊ
i iÀ> Ê/Ài>ÃÕÀÞÊ vÊÌ iÊ,i«ÕL VÊ
ÀiÃÌ> Ê V Ê-° °Ê
-ÕLÃ ` >ÀÞÊÊ
*À ÃÃ ÀÞÊ ÌiÃÊÊ
Ýi`Ê>ÃÃiÌÃÊ
ÓÊ
i iÀ> Ê/Ài>ÃÕÀÞÊ vÊÌ iÊ,i«ÕL VÊ
*À «>Ê-° °Ê
` ÀiVÌÊÃÕLÃ ` >ÀÞÊÊ
*À ÃÃ ÀÞÊ ÌiÃÊÊ
Ýi`Ê>ÃÃiÌÃÊÊ
Ç£Ê
` Ê >V > Ê`iÊ iÃ>ÀÀ Ê/iV } V ÊÊ
ÀiÃÌ> Ê V Ê-° °Ê
-ÕLÃ ` >ÀÞÊÊ
*iÀv À > ViÊL `ÊÊ
>Ã ÊÊ
Î{Ê
i iÀ> Ê/Ài>ÃÕÀÞÊ vÊÌ iÊ,i«ÕL VÊ
Û>ÃiÃÊ «Àià ÃÊ-° °Ê
` ÀiVÌÊÃÕLÃ ` >ÀÞÊÊ
*À ÃÃ ÀÞÊ ÌiÃÊÊ
Ýi`Ê>ÃÃiÌÃÊÊ
ÓÈÊ
«ÀiÃ>Ê`iÊ iÀÀ V>ÀÀ iÃÊ`i Ê ÃÌ>` Ê
* Ê i Õ Ã>Ê-° °Ê
` ÀiVÌÊÃÕLÃ ` >ÀÞÊÊ
*À ÃÃ ÀÞÊ ÌiÃÊÊ
Ýi`Ê>ÃÃiÌÃÊÊ
£ÇÊ
«> >Ê`iÊ/i iV Õ V>V iÃÊ`iÊ iÊ
* Ê/ ÃÃÕiÊ-° °Ê
-ÕLÃ ` >ÀÞÊÊ
*À ÃÃ ÀÞÊ ÌiÃÊÊ
>Ã Ê
£
ä
ä
ÈÊ
> > ViÃÊ«i ` }Ê >ÌÊÞi>ÀÊi `ÊÊ Óää{Ê / fÊ
Õ>À> ÌiiÃÊÀi i>Ãi`Ê ÓääÎÊ / fÊ
ÓääxÊ / fÊ
ÃÃiÌÃÊÊ
Ê ÓääÈÊ / fÊ
Ê
ÃÃiÌÃÊ
Ê
Ê
Ê
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊ
Ê
È] ä£Ê
£]{Ç{Ê
È] ä£Ê
ÕÀÀi ÌÊ ÃÃiÌÃÊÊÊ
Ê
Ó]ÇÎ Ê
{] £{Ê
ÎxÊ
Ýi`Ê ÃÃiÌÃÊ ÊÊ
Ó]È ÓÊ
Ýi`Ê ÃÃiÌÃ
Ó]Ó xÊ
Ó]Ó xÊ
Ê
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊ
Ê
£]Îä£Ê
£]£nÓÊ
£]Îä£Ê
Ýi`Ê ÃÃiÌÃÊ ÊÊ
Ê
£]äÇxÊ
Î]xx£Ê
£]äÇxÊ
Ýi`Ê ÃÃiÌÃÊ ÊÊ
Ê
ΣÓÊ
È Ê
ΣÓÊ
Ýi`Ê ÃÃiÌÃÊ ÊÊ
Ê
ΣÓÊ
Ê
ΣÓÊ
Ûi Ì À iÃÊ
ÊÊ
Ê
Ó xÊ
Ç£ Ê
Ó xÊ
Ýi`Ê ÃÃiÌÃÊ ÊÊ
Ê
£ÓäÊ
££äÊ
£ÓäÊ
Ýi`Ê ÃÃiÌÃÊ ÊÊ
Ê
ÓÊ
£ääÊ
ÓÊ
Ýi`Ê ÃÃiÌÃÊ ÊÊ
Ê
Ç£Ê
Ç£Ê
Ç£Ê
Ýi`Ê ÃÃiÌÃÊ ÊÊ
Ê
Î{Ê
ÈÊ
Î{Ê
>Ã Ê
Ê
ÓÈÊ
£xÎÊ
ÓÈÊ
Ýi`Ê ÃÃiÌÃÊ ÊÊ
Ê
£ÇÊ
Ó Ê
Ê
ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊ
£ÇÊ
Ýi`Ê ÃÃiÌÃ
ÈÊ
xÊ
ÈÊ
>Ã Ê
Ê
ÊÊ
ÊÊ
£
ä
£
£
ä
Ê
ÛiÀÃ iÃÊ * Ê-° °Ê ÊÊ
>Þ > Ê Ã > `Ê }i VÞ
ÛiÀÃ iÃÊ * Ê-° °Ê ÊÊ
>Þ > Ê Ã > `Ê }i VÞÊ
ÛiÀÃ iÃÊ * Ê-° °Ê ÊÊ
>Þ > Ê Ã > `Ê }i VÞ
>Ê*>«i iÀ>Ê`i Ê* >Ì>Ê-° °Ê Ê À}i Ì >®
`ÕÃÌÀ >ÃÊ ÀiÃÌ> iÃÊ-° °Ê À}i Ì >®
* Ê i Õ Ã>Ê-° °Ê
*>«i iÃÊ À` iÀ>Ê-° °Ê Ê
*>«i iÃÊ À` iÀ>Ê-° °Ê
*>«i iÃÊ À` iÀ>Ê-° °Ê
ÛiÀÃ iÃÊ * Ê-° ° ÊÊ
>Þ > Ê Ã > `Ê }i VÞÊ
ÛiÀÃ iÃÊ * Ê-° °Ê ÊÊ
>Þ > Ê Ã > `Ê }i VÞÊ
ÛiÀÃ iÃÊ * Ê-° °Ê
>Þ > Ê Ã > `Ê }i VÞ
Ê
6 Ê-° °Ê Ê
`ÃÊÊ Ê
`ÃÊÊ Ê
Ì L> Ê ° °Ê Ê
6 Ì Ê*>«iÀÊ >µ]ÊÊ ÞÊiµÕ «> i Ì ÃÊ Ì`>°Ê
LiÀÌiV Ê ]Ê Û>iÀ iÀÊÊ *Õ « }Ê ÊÞÊ ÌÀ ÃÊÊ
> V Ê-> Ì> `iÀÊ iÊÊ Ê
ÛiÀÌÊ-° °Ê
6 Ì Ê-° °Ê >µÕ >À >ÃÊÞÊÊ iµÕ «> i Ì ÃÊÊ
°Ê*°Ê À}> Ê> `Ê Ì iÀÃÊÊ Ê
ÀiÃ` iÀÊ > Ê> `Ê Ì iÀÃÊÊ Ê
Ì L> Ê ° °Ê Ê À}i Ì >ÊÊ Ê
Ê
Ì ÌÞÊ
Ê Õ>À> ÌiiÊVÀi` Ì ÀÊ
` ÀiVÌÊ}Õ>À> ÌiiÃ\
Ê
Ó
Ê-ÕLÃ ` >ÀÞÊÊ
Ê-ÕLÃ ` >ÀÞÊÊ
Ê-ÕLÃ ` >ÀÞÊÊ
` ÀiVÌÊÃÕLÃ ` >ÀÞÊ
` ÀiVÌÊÃÕLÃ ` >ÀÞÊ
` ÀiVÌÊÃÕLÃ ` >ÀÞÊ Ê
` ÀiVÌÊÃÕLÃ ` >ÀÞÊ
` ÀiVÌÊÃÕLÃ ` >ÀÞÊ
` ÀiVÌÊÃÕLÃ ` >ÀÞÊ
Ê-ÕLÃ ` >ÀÞÊÊ
Ê-ÕLÃ ` >ÀÞÊÊ
Ê-ÕLÃ ` >ÀÞÊÊ
Ê
,i >Ì Ê
Ê Õ>À> Ì ÀÊÊ
Ê Õ>À> Ì ÀÊÊ
Ê Õ>À> Ì ÀÊÊ
Ê Õ>À> Ì ÀÊÊ
Ê Õ>À> Ì ÀÊÊ
Ê Õ>À> Ì ÀÊ
Ê /Þ«iÊ vÊ Ê }Õ>À> Ìii Ê
Ê Õ>À> Ì ÀÊÊ
Ê Õ>À> Ì ÀÊÊ
Ê Õ>À> Ì ÀÊÊ
Ê Õ>À> Ì ÀÊÊ
Ê Õ>À> Ì ÀÊÊ
-ÕÀiÌÞÊL `Ê> `Ê ÃiÛiÀ> Ê ÌÊ`iLÌ À
Ê
ÊÊ
ÊÊ
ÊÊ
ÊÊ
ÊÊ
Ê
ÊÊ
ÊÊ
ÊÊ
ÊÊ
ÊÊ
Ê
ÃÃiÌÃÊÊ Û Ûi`Ê /Þ«iÊ
Ê
Ê
Ê
Ê
Ê
Ê
£]ÈnxÊ
££]Óx£Ê
£È]ÇnÈÊ
Óxä]äääÊ
Îää]äääÊ
{Çx]äääÊ
Óää{Ê
Ê
£Î]ÇxäÊ
£ää]äääÊ
£Óx]äääÊ
x] ÈÓÊ
È] ÎÎÊ
£Î]{{ Ê
ÓÈ]ÈxÇÊ
£{] ÎÎÊ
Î ]ΣxÊ
Óxä]äääÊ
Îää]äääÊ
ÓääÎÊÊ
> > ViÃÊ«i ` }Ê>ÌÊÞi>ÀÊi `Ê / fÊ
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
£]ÈnxÊ
Î]xäÇÊ
Î]ÎÓäÊ
Óxä]äääÊ
ÓääxÊÊ
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Î]ÎÎÓÊ
Î]ÎÓäÊ
Ê
Ê
{£]ÈÈÎÊ
ÓääÈÊ
Õ>À> ÌiiÃÊÀi i>Ãi` / f
Î]{ä{
Î]ÎÓä
nÎ]ÎÎÇ
ÓääÇÊ
ÌÊ`iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ/À> à >Ì Ê vÊÌ iÊ À } > Ê Ê-«> à ®
"/ -Ê/"Ê/ Ê " -" / Ê Ê-/ / /-
"/ ÊÓnÊ Ê 1 , / -Ê ," Ê/ , Ê* ,/ Õ>À> ÌiiÃÊvÀ ÊÌ À`Ê«>ÀÌ iÃÊ>ÀiÊ>ÃÊv ÜÃ\ Ê /À> Ã>VÌ
Ê
ÛiÃÌ i ÌÊ*À iVÌÊ ÛiÃÌ i ÌÊ*À iVÌÊ ÛiÃÌ i ÌÊ*À iVÌÊ -iÀÛ ViÃÊ
ÃÌÀÕVÌ Ê ÌÀ>VÌÃÊ -iÀÛ ViÃÊ Ã i`Ê«À `ÕVÌÊÃ> iÃÊ Ã i`Ê«À `ÕVÌÊÃ> iÃÊ « ÀÌÃÊ ÛiÃÌ i ÌÊ*À iVÌÊ Ã i`Ê«À `ÕVÌÊÃ> iÃÊ Ã i`Ê«À `ÕVÌÊÃ> iÃÊ -iÀÛ ViÃÊ -iÀÛ ViÃÊ
ÃÌÀÕVÌ Ê ÌÀ>VÌÃÊ Ã i`Ê«À `ÕVÌÊÃ> iÃÊ >Ì > Ê ÕÞÃÊ « ÀÌÃÊ ÛiÃÌ i ÌÊ*À iVÌÊ -iÀÛ ViÃÊ -iÀÛ ViÃÊ Ã i`Ê«À `ÕVÌÊÃ> iÃÊ
ÀÀiVÌÊiÝiVÕÌ Ê / LiÀÊ-> iÃÊ / LiÀÊ-> iÃÊ Ã i`Ê«À `ÕVÌÊÃ> iÃÊ ÀiÃÌ> Ê*À ÌiVÌ Ê / LiÀÊ-> iÃÊ Ã i`Ê«À `ÕVÌÊÃ> iÃÊ / LiÀÊ-> iÃÊ Ã i`Ê«À `ÕVÌÊÃ> iÃÊ -iÀÛ ViÃÊ Ã i`Ê«À `ÕVÌÊÃ> iÃÊ , >`Ê ÃÌÀÕVÌ ÊÊ -iÀÛ ViÃÊ / LiÀÊ-> iÃÊ Ã i`Ê«À `ÕVÌÊÃ> iÃÊ -iÀÛ ViÃÊ , >`Ê ÃÌÀÕVÌ Ê / LiÀÊ ÕÞÃÊ / LiÀÊ-> iÃÊ , >`Ê ÃÌÀÕVÌ Ê Ã i`Ê«À `ÕVÌÊÃ> iÃÊ Õ>À> ÌiiÊÊ Ã i`Ê«À `ÕVÌÊÃ> iÃÊ Ã i`Ê«À `ÕVÌÊÃ> iÃÊ , >`Ê ÃÌÀÕVÌ Ê Ã i`Ê«À `ÕVÌÊÃ> iÃÊ
ÃÌÀÕVÌ ÊV ÌÀ>VÌÃÊ Ã i`Ê«À `ÕVÌÊÃ> iÃÊ "Ã Ã ÃÊ* > ÌÊ
Õ ÌÊ / fÊ
Óx] Îä]ÈÎxÊ ]ÎÇÈ]Î{ÇÊ È]äÓÓ]{x£Ê x]ä£n]£{ÓÊ Î]È{Î]£ÈÈÊ £]Çn{]Èä Ê £]ÇxÇ]ΣÓÊ £]ÓÓÈ]ÓnäÊ £]Óä£]Σ Ê £]äÎ ]ÇxÈÊ n{x]Ó{ Ê n£ ]Î{ Ê näÓ]xÓÈÊ Ç Î]nx£Ê ÈÇÈ]ÓxÇÊ Èxn]Ç{ÇÊ È{Î]nÇäÊ x{Ç]nÎÇÊ { È]x{äÊ {Ç£]{ÇÇÊ {nÎ]{ÎÈÊ Î ä]£näÊ Înn]{nnÊ Î£Ó]£äÇÊ Ónx]Ç{äÊ ÓÇn]ÓääÊ ÓÇn]ÇääÊ ÓÇä]{ÓÇÊ ÓÈÇ]ÎÎ£Ê ÓÈÎ]{È Ê Óää]ÈÈ{Ê £ Ó]ÓÇÎÊ £Ç£]äÇ{Ê £xn]£{ÈÊ £x{]Ç{ÇÊ £xÓ]xääÊ £Î ]ÎxäÊ £ÎÇ]{{{Ê £Îx]äääÊ £Îä]äääÊ £ÓÇ]ÇÈÓÊ £ÓÎ] xÈÊ ££ ]xÈÓÊ £££]{näÊ £än]nääÊ n] ÈÊ n]n££Ê n ]£n{Ê nÎ] Î Ê nÎ]È£äÊ ÈÇ] ÇÎÊ
Ê ÃÃÕiÀ
Ê
`À ÌâÊ ° °Ê iÌà Ê*>«iÀÊ V°Ê Û>À iÀÊ* ÜiÀÊ
ÃÌÀÕVÌ À>Ê/iVÃ>Ê 6 Ì Ê-° °Ê `À ÌâÊ"9Ê *À Ûii` ÀiÃÊÞÊ >µÕ >` ÀiÃÊ-° °Ê *>«i ÊÞÊ >ÀÌ Ê iÀ Û>` ÃÊ-° °Ê "Ì iÀÃÊ -Õ `ÀÞÊV ÌÀ>VÌ ÀÃÊ "Ì iÀÃÊ À>« Ê*> Ê >À` Ê
ÃÌÀÕVÌ À>Ê V ÕÀÊ iÊ "Ì iÀÃÊ
ÃÌÀÕVÌ À>Ê >ÀV Ê-° °Ê >`iÀ>ÃÊ* VÕÀ>Ê Ì`>Ê
iÃÌ VÊÃÕ«« iÀÃÊ ÃÌ Ê À>Ã Ê }iÛiVÊ-° °Ê - iÌ> V iÊ >V ÞÊ iÊ -Õ `ÀÞÊÃÕ«« iÀÃÊ Õi` > Ê «Àià ÀiÃÊ-° °Ê -Õ `ÀÞÊV ÌÀ>VÌ ÀÃÊ *À >À>ÕV Ê-° °Ê Õ> Ê >ÀÃ>}ÕiÊÞÊ >°Ê Ì`>°Ê ÃÌ>L]Ê À>wV Ê «Àià À>Ê-° °Ê ÛiÀà iÃÊ iÀi>Ê*>Ì>} >Ê Ì`>]Ê ÃiÀÀ>`iÀ ÃÊ* V Ê>Ê* V Ê Ì`>°Ê 6iÀ>ÊÞÊ > Ê-° °Ê ÀiÃÌ> Ê/À> ë°ÊÞÊ ÃÌ°Ê-Ì>°Ê i >Ê *>«i iÀ>Ê ÀÀ i ÌiÃÊ-° °Ê ÃV Ê-° °Ê
i ÌÀ Ê À?wV Ê-° °Ê }°ÊÞÊ ÃÌ°Ê >ÌÊ Ì`>°Ê V iÛiÀÀ >Ê âµÕ iÀ` Ê-° °Ê ÀiÃÌ> Ê-Ì>°Ê jÃÊ Ì`>°Ê «Àià À>Ê Ã«> >Ê -> v>Ê «°Ê ÛÊ`iÊ/ iÀÀ>Ê Ê Ì`>°Ê -Õ `ÀÞÊV ÌÀ>VÌ ÀÃÊ }À V°ÊÞÊ >`iÀiÀ>Ê L õÕiÊ
ÃÌÀÕVÌ À>Ê/À V> Ê-° °Ê ÌÌ]Ê*> Õ L ÊÞÊ >°Ê Ì`>°Ê
i «>V Ê-° °Ê
>À>V>ÃÊ*>«iÀÊ «> ÞÊ *>«i iÀ>Ê ÌiÀ >V > Ê µÕ « ÃÊÞÊ-iÀÛ V ÃÊ Ì`>°Ê >LÀ V>Ê`iÊ > >ÃÊ`iÊ >ÀÌ Ê-° °Ê -Õ `ÀÞÊV ÌÀ>VÌ ÀÃÊ Ì }À>w>Ê ÞÀ Ê<>` Ê-° °Ê }Õ>ÃÊ `ÕÃÌÀ > iÃÊ
,i >Ì Ê
-Õ«« iÀ -Õ«« iÀ -Õ«« iÀ -Õ«« iÀ -Õ«« iÀ -Õ«« iÀ
ÕÃÌ iÀ
ÕÃÌ iÀ -Õ«« iÀ -Õ«« iÀ
ÕÃÌ iÀ
ÕÃÌ iÀ -Õ«« iÀ -Õ«« iÀ -Õ«« iÀ
ÕÃÌ iÀ -Õ«« iÀ -Õ«« iÀ -Õ«« iÀ -Õ«« iÀ -Õ«« iÀ
ÕÃÌ iÀ -Õ«« iÀ
ÕÃÌ iÀ
ÕÃÌ iÀ
ÕÃÌ iÀ -Õ«« iÀ
ÕÃÌ iÀ
ÕÃÌ iÀ
ÕÃÌ iÀ
ÕÃÌ iÀ -Õ«« iÀ
ÕÃÌ iÀ -Õ«« iÀ -Õ«« iÀ
ÕÃÌ iÀ
ÕÃÌ iÀ -Õ«« iÀ -Õ«« iÀ -Õ«« iÀ
ÕÃÌ iÀ -Õ«« iÀ
ÕÃÌ iÀ
ÕÃÌ iÀ
ÕÃÌ iÀ
ÕÃÌ iÀ -Õ«« iÀ
ÕÃÌ iÀ -Õ«« iÀ
ÕÃÌ iÀ -Õ«« iÀ
£
ä
Î
"/ -Ê/"Ê/ Ê " -" / Ê Ê-/ / / ÌÊ`iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ/À> à >Ì Ê vÊÌ iÊ À } > Ê Ê-«> à ®
"/ ÊÓ Ê Ê " Ê Ê ", Ê 1,, 9
ÕÀÀi ÌÊ>ÃÃiÌÃ\ Ê Ê
ÕÀÀi VÞ Ê
Ê
Ê
Óää{Ê
/ fÊ
Ê
Ê
Ê
/ 1-fÊ
/ fÊ
ÓääÎ Ê
/ 1-f
ÕÀÀi ÌÊ>ÃÃiÌÃ\
>Ã Ê> `ÊL> ÃÊ
£]ÎÓ{] ÎÇÊ
Ó]ÎÇÇÊ
näÈ]x xÊ
£]ÎÓx
>Ã Ê> `ÊL> ÃÊ
>ÀÊ
Ó]£nä]Ç£nÊ
Î] £ÓÊ
£]ÈÎÎ]xÓÎÊ
Ó]Èn{
>Ã Ê> `ÊL> ÃÊ
ÕÀ ÃÊ
ÎnÈ]ΣÈÊ
È ÎÊ
Ê
>Ã Ê> `ÊL> ÃÊ
À}i Ì i> Ê«ià ÃÊ
{Σ]Óx Ê
ÇÇ{Ê
ÓxÇ]nÓÎÊ
{Ó{
>Ã Ê> `ÊL> ÃÊ
"Ì iÀÊVÕÀÀi V iÃÊ
/ iÊ`i« Ã ÌÃÊ> `Ê >À iÌ>L iÊÃiVÕÀ Ì iÃÊ
Ê `iÝi`Ê«ià ÃÊ
Ê `iÝi`Ê«ià ÃÊ
Î ]Î{xÊ
Ç£ÈÊ
ÇÇ£]{xÇÊ
£]ÓÈÇ
£ä]Ç{{]Ç{ÓÊ
£ ]ÓÇÇÊ
În]nÇä] xxÊ
ÈÎ]nÈx
Ç]ÎÎn]nÇ{Ê
£x ] ÓÇ ££Ó
/ iÊ`i« Ã ÌÃÊ> `Ê >À iÌ>L iÊÃiVÕÀ Ì iÃÊ
>ÀÊ
£ÇÎ]x ]ä {Ê
Σ£]{{{Ê
/ iÊ`i« Ã ÌÃÊ> `Ê >À iÌ>L iÊÃiVÕÀ Ì iÃÊ
ÕÀ Ê
n£]{ n] Î Ê
£{È]Ó£ÎÊ
Èn]ä{nÊ
/ iÊ`i« Ã ÌÃÊ> `Ê >À iÌ>L iÊÃiVÕÀ Ì iÃÊ
"Ì iÀÊVÕÀÀi V iÃÊ
Î{Î]ÓΣÊ
È£ÈÊ
xÇÇ]ÎxxÊ
{
ÇÇ]xÎÈ]£äÈÊ
£Î ]£äÎÊ
ÈÈ]{ä ]Ó£ Ê
£ä ]££ä
£äÈ]ÇÇn]{n{Ê
£ £]xÈxÊ
Ç] ÇÓ] ÎÊ
£Èä] È
VV Õ ÌÃÊÀiVi Û>L iÊÃ ÀÌ ÌiÀ Ê
Ê `iÝi`Ê«ià ÃÊ
VV Õ ÌÃÊÀiVi Û>L iÊÃ ÀÌ ÌiÀ Ê
>ÀÊ
VV Õ ÌÃÊÀiVi Û>L iÊÃ ÀÌ ÌiÀ Ê
ÕÀ Ê
x]Óän] ÈÊ
]Î{xÊ
Ê
VV Õ ÌÃÊÀiVi Û>L iÊÃ ÀÌ ÌiÀ Ê
À}i Ì i> Ê«ià ÃÊ
]{{£] nnÊ
£È] Î Ê
n]Óä{]nÎnÊ
£Î]{nä
VV Õ ÌÃÊÀiVi Û>L iÊÃ ÀÌ ÌiÀ Ê
"Ì iÀÊVÕÀÀi V iÃÊ
x]{ä ]ÈäxÊ
]ÇäxÊ
Ç]È£{]nÎ{Ê
£Ó]x££
ÎÇÎ]ÈxnÊ
ÈÇäÊ
£Îä]{{ÎÊ
Ó£{
ÌiÃÊ> `Ê>VV Õ ÌÃÊÀiVi Û>L iÊvÀ ÊÊ Ài >Ìi`ÊV «> iÃ
Ê `iÝi`Ê«ià ÃÊ
Ûi Ì À iÃÊ
`iÝi`Ê«ià ÃÊ
£än]Î Ó] xÓÊ
£ {]{ÈÓÊ
£ää]n£Î]xäÈÊ
£Èx]ÈÎÈ
Ûi Ì À iÃÊ
>ÀÊ
Ç]ÓÓÈ] {Ê
£Ç{]{Ó Ê
nn] £ä]äÇ{Ê
£{È]äÇ
Ûi Ì À iÃÊ
À}i Ì i> Ê«ià ÃÊ
£Ó]£ÓÎ]äÈäÊ
Ó£]Ç{ Ê
££]xÇÎ]nÎxÊ
£ ]ä£È
Ûi Ì À iÃÊ
"Ì iÀÊVÕÀÀi V iÃÊ
Ç]ÇÇÇ]Î ÓÊ
£Î] xÎÊ
Ç]xÎn]ä{ÇÊ
£Ó]Înx
/>ÝiÃÊÀiV ÛiÀ>L iÊ
`iÝi`Ê«ià ÃÊ
Ó{]n È]x{ Ê
{{]ÈÈxÊ
Óä]£nÇ]{äÇÊ
ÎÎ]£Èn
/>ÝiÃÊÀiV ÛiÀ>L iÊ
À}i Ì i> Ê«ià ÃÊ
ÇxÎ]Çx£Ê
£]ÎxÓÊ
nÓx]xäÎÊ
£]ÎxÈ
/>ÝiÃÊÀiV ÛiÀ>L iÊ
"Ì iÀÊVÕÀÀi V iÃÊ
£]Ç£n]ä{nÊ
Î]änÓÊ
£]xÈÓ]ÓÓÇÊ
Ó]xÈÇ
Ó]ÈÈÈ]xäÎÊ
{]Çn{Ê
Î]äÓÓ]ÓäÇÊ
{] Èx È]£äÎ
*Ài«> `ÊiÝ«i ÃiÃÊ
Ê `iÝi`Ê«ià ÃÊ
*Ài«> `ÊiÝ«i ÃiÃÊ
>ÀÊ
Î]Ónn]ÎÇäÊ
x]n Ê
Î]Ç£{]xxÎÊ
*Ài«> `ÊiÝ«i ÃiÃÊ
À}i Ì i> Ê«ià ÃÊ
{ÈÇ] ÓnÊ
nÎ Ê
È ]ÈÓnÊ
££{
*Ài«> `ÊiÝ«i ÃiÃÊ
"Ì iÀÊVÕÀÀi V iÃÊ
ÎÓÓ]Èn{Ê
xÇ Ê
Ó£x]{n Ê
Îx{
iviÀÀi`ÊÌ>ÝiÃÊ
Ê `iÝi`Ê«ià ÃÊ
Ó]nxn]ÈÓ{Ê
x]£ÓnÊ
Î]ÈÇÈ]{Ó Ê
È]ä{ä
iviÀÀi`ÊÌ>ÝiÃÊ
À}i Ì i> Ê«ià ÃÊ
{Î{]n nÊ
ÇnäÊ
În{]ÇÓxÊ
ÈÎÓ
iviÀÀi`ÊÌ>ÝiÃÊ
"Ì iÀÊVÕÀÀi V iÃÊ
Ç£]È£ÇÊ
£ÓnÊ
Óx£]xÓÓÊ
{£Î
"Ì iÀÊVÕÀÀi ÌÃÊ>ÃÃiÌÃÊ
`iÝi`Ê«ià ÃÊ
Ê
Ê
£ x]ÇnxÊ
ÎÓÓ
Óx]{Ç ]ä nÊ
{x]Ç££Ê
x]xÎÈ]ÈÎÈÊ
]ä Ç
"Ì iÀÊVÕÀÀi ÌÃÊ>ÃÃiÌÃÊ
Ê `iÝi`Ê«ià ÃÊ
"Ì iÀÊVÕÀÀi ÌÃÊ>ÃÃiÌÃÊ
>ÀÊ
£È]ÈÈÈ]Ó nÊ
Ó ] ääÊ
nÓ]Óxn]{x£Ê
£Îx]£xä
"Ì iÀÊVÕÀÀi ÌÃÊ>ÃÃiÌÃÊ
ÕÀ Ê
x] Σ]Ó£ÎÊ
£ä]È{£Ê
Ê
"Ì iÀÊVÕÀÀi ÌÃÊ>ÃÃiÌÃÊ
"Ì iÀÊVÕÀÀi V iÃÊ
£Î{]È{nÊ
Ó{ÓÊ
Ê
£
ä
{
Ê Ê
ÕÀÀi VÞ Ê
Ê
Ê / fÊ
Óää{Ê Ê
Ê
Ê
/ 1-fÊ
/ fÊ
ÓääÎ Ê
/ 1-f
Ýi`Ê>ÃÃiÌÃ\ Ýi`Ê>ÃÃiÌÃÊ
`iÝi`Ê«ià ÃÊ
Ó]äx£]xÓÇ]Èä{Ê
Î]Ènä]xÎäÊ
£] £] {Ç]{ {Ê
Î]ÓÇÓ]Çxn
Ýi`Ê>ÃÃiÌÃÊ
>ÀÊ
£x{]x{Ç] Ó{Ê
ÓÇÇ]ÓÈÈÊ
£n£]xÎ ]ÎäxÊ
Ó n]ÓÈn
Ýi`Ê>ÃÃiÌÃÊ
ÕÀ Ê
Óx]£ÈÎ]ä{ÇÊ
{x]£{{Ê
Ê
ÛiÃÌ i ÌÃÊ ÊÀi >Ìi`ÊV «> iÃÊ
`iÝi`Ê«ià ÃÊ
ÓÈ] ÇÓ]nääÊ
{n]Î äÊ
£ ]ÈÈn]Î{äÊ
ÎÓ]Σx
ÛiÃÌ i ÌÃÊ Ê Ì iÀÊV «> iÃÊ
`iÝi`Ê«ià ÃÊ
£Ó ]xÇÎÊ
ÓÎÓÊ
£Ó ]{näÊ
Ó£Î
`Ü Ê
`iÝi`Ê«ià ÃÊ
x ]äxÈ]ΣxÊ
£äx] xäÊ
Èx]ÓÇx]ÎÓÈÊ
£äÇ]Ó{Ç
"Ì iÀÊ>ÃÃiÌÃ\Ê
i}>Ì ÛiÊ} `Ü Ê
`iÝi`Ê«ià ÃÊ
Óx]äÎx]£xä®Ê
{{] £{®Ê
Îx]Ón£]Ç{n®Ê
xÇ] Èn®
} ÌiÀ Ê`iLÌ ÀÃÊ
`iÝi`Ê«ià ÃÊ
Ó]ä£ä]ÇxÎÊ
Î]ÈäÇÊ
ÎäÓ]{ {Ê
{ Ç
} ÌiÀ Ê`iLÌ ÀÃÊ
À}i Ì i> Ê«ià ÃÊ
£]nn ]n ÎÊ
Î]Î £Ê
Ó]ääÇ] ÎÇÊ
Î]Ó
} ÌiÀ Ê`iLÌ ÀÃÊ
"Ì iÀÊVÕÀÀi V iÃÊ
Îx£]ÇΣÊ
ÈΣÊ
Ê
Ì> } L iÃÊ
`iÝi`Ê«ià ÃÊ
£]Ç{£]ÈxÈÊ
Î]£ÓxÊ
£]ÇÎ ]nÎ Ê
Ó]nx
Ì> } L iÃÊ
"Ì iÀÊVÕÀÀi V iÃÊ
"Ì iÀÃÊ
`iÝi`Ê«ià ÃÊ
"Ì iÀÃÊ
Ê `iÝi`Ê«ià ÃÊ
"Ì iÀÃÊ
>ÀÊ
"Ì iÀÃÊ
À}i Ì i> Ê«ià ÃÊ
/ Ì> Ê>ÃÃiÌÃÊ
Ê `iÝi`Ê«ià ÃÊ
xx]£xnÊ
Ê
x ]Ó£ÓÊ
Ç
x]äxnÊ
£]ÇnxÊ
n£Î]ÇÇÇÊ
£]ÎÎÇ
Çä]n{£Ê
£ÓÇÊ
Ê
ÎÎn] ÓÓÊ
ÈänÊ
ÎÎ{]{{{Ê
x{
Ê{£]£ä{Ê
ÊÇ{Ê
ÊÓÓÎ]£ äÊ
ÊÎÈÇ
£Ó£]äx{]xä Ê
Ó£Ç]£ÇÇÊ
££n]{xÓ]{n{Ê
£ {]È£È
xxÎ]ÇäÓ]Ó£ÇÊ
ä ]ÇÓ
Ê
Ê
>ÀÊ
xx{]ÈÓÈ]nä{Ê
x]äÓÎÊ
Ê
Ê
ÕÀ Ê
££n]£nn]x££Ê
Ó£Ó]äÎÈÊ
Èn]ä{nÊ
££Ó
Ê
Ê
À}i Ì i> Ê«ià ÃÊ
Óx]xnÎ]nn£Ê
{x]n nÊ
ÓÎ]x{Ç]{Ç Ê
În]Ènn
Ê
Ê
"Ì iÀÊVÕÀÀi V iÃÊ
Ê
Ê
`iÝi`Ê«ià ÃÊ
£È]xnÎ]{x Ê
Ó ]Çx£Ê
£n]x ä]£{ÎÊ
Îä]x{Î
Ó]Óxä]Ènn]££äÊ
{]äÎÇ]nÎÓÊ
Ó]£Èx]Ç £]ÇääÊ
Î]xxn]În{
£
ä
x
"/ -Ê/"Ê/ Ê " -" / Ê Ê-/ / / ÌÊ`iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ/À> à >Ì Ê vÊÌ iÊ À } > Ê Ê-«> à ®
ÕÀÀi ÌÊ >L Ì iÃ\ Ê
Ê
Ê
Ê Ê
Ê
ÕÀÀi VÞ Ê
Ê Ê
Ê
Ê
>L Ì iÃÊÌ ÊL> ÃÊ> `Êw > V > Ê ÃÌ ÌÕÌ ÃÊÃ ÀÌ ÌiÀ Ê
Ê Óää{Ê Õ ÌÊ
/ ÊfÊ
Ê `iÝi`Ê«ià ÃÊ
Ê
Ê
1«ÊÌ Ê
ÊÊ Ê
ÛiÀ>}iÊ> Õ> Ê ÌiÀiÃÌÊÀ>ÌiÊ
/ 1-fÊ
¯Ê
n{ ]ÓäÈÊ
£]xÓ{Ê
Ê
£x ] Ç£Ê
ÓnÇÊ
Ê
xäÈ]£näÊ
änÊ
{°ÓäÊ
Î]£Èx]£nÓÊ
x]ÈÇnÊ
>L Ì iÃÊÌ ÊL> ÃÊ> `Êw > V > Ê ÃÌ ÌÕÌ ÃÊÃ ÀÌ ÌiÀ Ê
>ÀÊ
>L Ì iÃÊÌ ÊL> ÃÊ> `Êw > V > Ê ÃÌ ÌÕÌ ÃÊÃ ÀÌ ÌiÀ Ê
"Ì iÀÊVÕÀÀi V iÃÊ
- ÀÌ ÌiÀ Ê« ÀÌ Ê vÊ }ÊÌiÀ Ê >L Ì iÃÊÌ ÊL> ÃÊ > `Êw > V > Ê ÃÌ ÌÕÌ Ã
>ÀÊ
>L Ì iÃÊÜ Ì Ê«ÕL VÊ `îÊ
>ÀÊÊ
Ê
Ê
- ÀÌ ÌiÀ Ê« ÀÌ Ê vÊ }ÊÌiÀ Ê >L Ì iÃÊÊ
>ÀÊ
£]În£]È££Ê
Ó]{Ç Ê
{°ÓäÊ
Óx]äÓx]Î £Ê
{{]n ÇÊ
Ê
Û `i `ÃÊ«>Þ>L iÊÊ VV Õ ÌÊ«>Þ>L iÊ
Ê `iÝi`Ê«ià ÃÊ Ê `iÝi`Ê«ià ÃÊ
xn]Óä ]Ç{{Ê
£ä{]{ΣÊ
Ê
ÎÈ]{n£Ê
Ê
À}i Ì i> Ê«ià ÃÊ
Ç] {]ÓÈÈÊ
£{]Î{ÓÊ
Ê
"Ì iÀÊVÕÀÀi V iÃÊ
Ó]Çxä]£ÇÓÊ
{] Î{Ê
Ê
ÎÎ] {äÊ
È£Ê
Ê
Ó]nnä]Ó£nÊ
x]£ÈÇÊ
Ê
£nx]ÓnnÊ
ÎÎÓÊ
Ê Ê
>ÀÊ
VV Õ ÌÊ«>Þ>L iÊ VV Õ ÌÊ«>Þ>L iÊ
Ê `iÝi`Ê«ià ÃÊ
ÌiÃÊ«>Þ>L iÊ
>ÀÊ
ÌiÃÊ«>Þ>L iÊ
"Ì iÀÊVÕÀÀi V iÃÊ
-Õ `ÀÞÊVÀi` Ì ÀÃÊ -Õ `ÀÞÊVÀi` Ì ÀÃÊ -Õ `ÀÞÊVÀi` Ì ÀÃÊ ÌiÃÊ> `Ê>VV Õ ÌÃÊ«>Þ>L iÊÌ ÊÀi >Ìi`ÊV «> iÃÊ ÌiÃÊ> `Ê>VV Õ ÌÃÊ«>Þ>L iÊÌ ÊÀi >Ìi`ÊV «> iÃÊ *À Û Ã ÃÊ
Ê
Óä]ÎÎ{]xÎ Ê
VV Õ ÌÊ«>Þ>L iÊ
ÌiÃÊ«>Þ>L iÊ
Ê
`iÝi`Ê«ià ÃÊ Ê `iÝi`Ê«ià ÃÊ "Ì iÀÊVÕÀÀi V iÃÊ Ê `iÝi`Ê«ià ÃÊ
>ÀÊ Ê `iÝi`Ê«ià ÃÊ
*À Û Ã ÃÊ
>ÀÊ
*À Û Ã ÃÊ
À}i Ì i> Ê«ià ÃÊ
*À Û Ã ÃÊ
"Ì iÀÊVÕÀÀi V iÃÊ
£{ ]Î ÇÊ
ÓÈnÊ
£]£ {] ÈÎÊ
Ó]£{{Ê
Ê
£Ó]ÎÇnÊ
ÓÓÊ
Ê
È ]ÓÇ£Ê
£Ó{Ê
Ê
Ê
Ê
Ê
£ä]xÎÈ]ää Ê
£n] äÓÊ
Ê
Ê
Ê
Ê
În£]ÇäxÊ
ÈnxÊ
Ê Ê
ÓÓ]ÈäÈÊ
£]ÈxxÊ
7 Ì ` }ÃÊ
Ê `iÝi`Ê«ià ÃÊ
x]Ç{Î]Ç£äÊ
£ä]Îä{Ê
Ê
7 Ì ` }ÃÊ
À}i Ì i> Ê«ià ÃÊ
ÈxÎ]Ó{ÈÊ
£]£ÇÓÊ
Ê
7 Ì ` }ÃÊ
"Ì iÀÊVÕÀÀi V iÃÊ
x£{]nÓ Ê
Ó{Ê
Ê
V iÊÌ>ÝÊ
`iÝi`Ê«ià ÃÊ
Ê
Ê
Ê
1 i>À i`Ê V iÊ 1 i>À i`Ê V iÊ "Ì iÀÊVÕÀÀi ÌÊ >L Ì iÃÊ "Ì iÀÊVÕÀÀi ÌÊ >L Ì iÃÊ / Ì> ÊVÕÀÀi ÌÊ >L Ì iÃÊ
Ê `iÝi`Ê«ià ÃÊ
>ÀÊ Ê `iÝi`Ê«ià ÃÊ
>ÀÊ Ê `iÝi`Ê«ià ÃÊ
Ê
>ÀÊ
Ê
"Ì iÀÊVÕÀÀi V iÃÊ
Ê
`iÝi`Ê«ià ÃÊ
Ê
À}i Ì i> Ê«ià ÃÊ
£
ä
È
nÓÇ]ÇäÎÊ
£]{nxÊ
Ê
{ Î]ÇÈ{Ê
nnÈÊ
Ê
Ó]ääÇ] È Ê
Î]ÈäÓÊ
Ê
Ê
Ê
Ê
£ä{]{ Ç] äÈÊ
£nÇ]{Ç{Ê
Ê
Ón]{£x]ÓnxÊ
xä] ÇnÊ
Ê
{]n £]{xÎÊ
n]ÇÇxÊ
Ê
£{ ]Î ÇÊ
ÓÈnÊ
Ê
]äÓ ]Ó£ÇÊ
£È]£ Ê
Ê
äÊ`>ÞÃÊ
Ê Ê Ê
Ê ÓääÎÊ Õ ÌÊ
/ ÊfÊ
Ê
Ê
Ê
Ê
Ê Ê
ÛiÀ>}iÊ> Õ> Ê ÌiÀiÃÌÊÀ>ÌiÊ
Ê Ê
/ 1-fÊ
¯Ê
/ ÊfÊ
Ê Óää{Ê Õ ÌÊ Ê
Ê
Ê
ÊÊ Ê
ÛiÀ>}iÊ> Õ> Ê ÌiÀiÃÌÊÀ>ÌiÊ
äÊ`>ÞÃÊÕ«ÊÌ Ê iÊÞi>À Ê Ê
/ 1-fÊ
¯Ê
/ fÊ
ÓääÎÊ Õ ÌÊ Ê
Ê Ê
ÛiÀ>}iÊ> Õ> ÌiÀiÃÌÊÀ>Ìi
/ 1-fÊ
¯
£]ÓÈn]xÎ{Ê
Ó]än{Ê
Ê
Ê
Ê
Ê
Ê
Ê
Î x]{£äÊ
ÈxäÊ
£° äÊ
Ê
Ê
Ê
Ê
Ê
Ç{Î]ÈxÎÊ
£]ÓÓÓÊ
ΰÈäÊ
Ê
Ê
Ê
Ê
Ê
£n]nÇÇ]Î{nÊ
Σ]ä£xÊ
£°Ç{Ê
Ê
Ê
Ê
n]{£n]n{nÊ
£Î]nÎÓÊ
£{ä]äÎ{]£x£Ê
Óx£]ÓÓÇÊ
Ç°ÎnÊ
Çnn]nÈÎÊ
£]Ó ÈÊ
{]£{£]ÈÓxÊ
Ç]{ÎäÊ
{°ÓäÊ
{ä]£än] £ Ê
Èx]n Ê
ΰ£È
Ê
Ê
Ê
Ê
Ê
£°Ç{
Ê
Ê
Ç£ ]ä{ÎÊ
£]£n£Ê
ΰ£ÈÊ
£Ç]Ó£ ]Î £Ê
Ón]Ó £Ê
Ê
È£]x£È]ÓäxÊ
£ä£]äÇ£Ê
Ê
£]ä{Î]n£ Ê
£]nÇÎÊ
Ê
Ó]ÈÎÎ]{nÓÊ
{]ÎÓÇÊ
£x]nΣ] ÇnÊ
ÓÈ]ä£ÓÊ
Ê
Î]ÈnÎ]ÇxÇÊ
È]Èä Ê
Ê
Ó]Îä{]{n£Ê
Î]ÇnÈÊ
x]xÓÓ]ÓnnÊ
]äÇÎÊ
Ê
Ê
Ê
Ê
Ê
Ê
£]äxn]äÎnÊ
£]ÇÎnÊ
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Î]ÎÎÓ]ÇÎnÊ
x]{ÇÈÊ
Ê
Ê
Ê
Ê
Ê
Ê
x{]{ÎÎÊ
n Ê
Ê
Ê
Ê
Ê
Ê
Ê
£Çn]ÎäÎÊ
Ó ÎÊ
Ê
Ê
Ê
Ê
Ê
Ê
xÎ{]£nÓÊ
nÇnÊ
Ê
Ê
Ê
Ê
Ê
Ê
£Ç]{ £Ê
Ó Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
{Î] Ó Ê
ÇÓÊ
Ê
Ê
Ê
Ê
Ê
Ê
£]{£ä]nÎ Ê
Ó]ΣnÊ
Ê
Ê
Ê
Ê
Ê
Ê
£Î]{ È] ÇäÊ
ÓÓ]£ÇxÊ
Ê
{]{xÎ] {ÇÊ
Ç] £Ê
Ê
£]{£x]È xÊ
Ó]ÎÓÈÊ
{Ç]È ÎÊ
ÇnÊ
Ê
Ê
Ê
Ê
Ê
Ê
ÇÓÓ]nÇÇÊ
£]£nnÊ
Ê
Ê
Ê
Ê
Ê
Ê
£ÎÈ]äÓ£Ê
ÓÓ{Ê
Ê
Ê
Ê
Ê
{{{]ÎÈ£Ê
ÇΣÊ
Î]äÇ ]Ç{ Ê
x]äÈäÊ
Ê
Ê
Ê
Ê
Ê
Ê
x {]nxxÊ
ÇÇÊ
Ê
Ê
Ê
Ê
Ê
Ê
{{n]ÈÇÎÊ
ÇÎÇÊ
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
{]xnÈ]Ó£nÊ
Ç]xÎxÊ
£]äÇÓ]ÓänÊ
£]ÇÈÓÊ
Ê
Ê
Ê
Ê
Ê
Ê
Ó] £ÇÊ
£xÎÊ
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
ÇÎÓ]Ó ÈÊ
£]ÓäÎÊ
Ê
Ê
Ê
Ê
Ê
Ê
n]ÓΣ]£ÈnÊ
£È£]Î ÎÊ
Ê
x]{ Ç]ÇÈÈÊ
]nÈ{Ê
Ê
{]ä{ ]£ÇÇÊ
È]ÈxÎÊ
{£]{{ä]ÓÈÓÊ
Èn]änÈÊ
Ê
£{Ç]nx ]xÎÎÊ
ÓÈx]ÓÈÈÊ
Ê
x£]ÈÓ£]£££Ê
n{]n£ÎÊ
Ó]{xn]Îä Ê
{]äÎ Ê
Ê
Ê
Ê
Ê
{{{]ÎÈ£Ê
ÇΣÊ
£Çn]ÎäÎÊ
Ó ÎÊ
Ê
Ê
Ê
Ê
{]xnÈ]Ó£nÊ
Ç]xÎxÊ
È]n{ä]äÓäÊ
££]ÓÎnÊ
Ê
Ê
Ê
Ê
Ê
Ê
£
ä
Ç
"/ -Ê/"Ê/ Ê " -" / Ê Ê-/ / / ÌÊ`iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ/À> à >Ì Ê vÊÌ iÊ À } > Ê Ê-«> à ®
} ÌiÀ Ê >L Ì iÃÊ ÊVÕÀÀi ÌÊ«iÀ `ÊÓää{ Ê
Ê
Ê
Ê Ê
Ê
ÕÀÀi VÞ Ê
Ê Ê
Ê
Ê
>L Ì iÃÊÌ ÊL> ÃÊÊ
>ÀÊ
>L Ì iÃÊÜ Ì Ê«ÕL VÊ `îÊ
>ÀÊ
>ÀÊ
ÌiÃÊ«>Þ>L iÊ *À Û Ã ÃÊ *À Û Ã ÃÊ
Ê `iÝi`Ê Ê `iÝi`Ê
iviÀÀi`ÊÌ>ÝiÃÊ
"Ì iÀÊVÕÀÀi V iÃÊ
/ Ì> Ê } ÌiÀ Ê >L Ì iÃÊ
>ÀÊ
Ê
Ê `iÝi`Ê
Ê
Ê Ê
ÛiÀ>}iÊ> Õ> Ê ÌiÀiÃÌÊÀ>ÌiÊ
/ 1-fÊ
¯Ê
È ]ÈÇx]äääÊ
£Óx]äääÊ
Ó°ÎxÊ
Ê
Ê
]äÎÇ]xx£Ê
£È]Ó£{Ê
{°ÈäÊ
{]ÇÇÇ] ÎnÊ
n]xÇÓÊ
Ê
ÇÓ{]ÇäÈÊ
£]ÎääÊ
Ê
£Ó]ÈxÇ]ÓnÇÊ
ÓÓ]ÇänÊ
Ê
Ê{{È]ÓÎÓÊ
Ênä£Ê
Ê Ê
Çn]Ç£Ó]xx£ÊÊ
£{£]Ó£{Ê
Ê
£Ç]{Îx]ÓÓxÊ
Σ]ÓnäÊ
Ê
/ ÊfÊ
À}i Ì i> Ê«ià ÃÊ
iviÀÀi`ÊÌ>ÝiÃÊ
" iÊÕ«ÊÌ ÊÌ ÀiiÊÞi>ÀÃÊ Óää{Ê Õ ÌÊ Ê
Ê
Ê
À}i Ì i> Ê«ià ÃÊ
ÇÓ{]ÇäÈÊ
£]ÎääÊ
Ê
Ê
"Ì iÀÊVÕÀÀi V iÃÊ
{{È]ÓÎÓÊ
nä£Ê
Ê
} ÌiÀ Ê >L Ì iÃÊ Ê«À ÀÊ«iÀ `ÊÓääÎ Ê
Ê
Ê
Ê Ê
Ê
ÕÀÀi VÞ Ê
Ê Ê
Ê
Ê
>L Ì iÃÊÌ ÊL> ÃÊÊ
>ÀÊ
>L Ì iÃÊÜ Ì Ê«ÕL VÊ `îÊ
>ÀÊ
>ÀÊ
ÌiÃÊ«>Þ>L iÊ
" iÊÕ«ÊÌ ÊÌ ÀiiÊÞi>ÀÃÊ
Ê
Ê Ê
ÛiÀ>}iÊ> Õ> Ê ÌiÀiÃÌÊÀ>ÌiÊ
/ 1-fÊ
¯Ê
ÈÇ] Èx]Îx Ê
£££]ÈÈÇÊ
£°nnÎÊ
£xÓ]£È£]ÓxäÊ
Óxä]äääÊ
Ç°ÎÇxÊ
ÓÓ]nÇÇ]äÇÓÊ
ÎÇ]xnÇÊ
Ó°xäÊ
/ ÊfÊ
Óää{Ê Õ ÌÊ Ê
*À Û Ã ÃÊ
Ê `iÝi`Ê
Î] äÈ]Î nÊ
È]{£nÊ
Ê
iviÀÀi`ÊÌ>ÝiÃÊ
Ê `iÝi`Ê
ÓÎ]nä£]{{£Ê
Î ]£äÈÊ
Ê
iviÀÀi`ÊÌ>ÝiÃÊ
"Ì iÀÊVÕÀÀi V iÃÊ
/ Ì> Ê } ÌiÀ Ê >L Ì iÃÊ
>ÀÊ
Ê
Ê `iÝi`Ê
Ê
"Ì iÀÊVÕÀÀi V iÃÊ
£
ä
n
Ê£nx]{{{Ê
ÊÎäxÊ
Ê Ê
Ó{Î]ääÎ]Èn£Ê
Î ]Óx{Ê
Ê
ÓÇ]ÇäÇ]nÎ Ê
{x]xÓ{Ê
Ê
£nx]{{{Ê
ÎäxÊ
Ê
Ê
Ê/ ÀiiÊÕ«ÊÌ ÊwÛiÊÞi>ÀÃÊ
Ê
Ê
Ê Ê
ÛiÀ>}iÊ> Õ> Ê ÌiÀiÃÌÊÀ>ÌiÊ
Ê Ê
Óää{Ê Õ ÌÊ
/ 1-fÊ
¯Ê
/ ÊfÊ
£ x]ä ä]äääÊ
Îxä]äääÊ
Ó°ÎxÊ
Ê
Ê
Ó]ÇÎx]ÇÇ Ê
{] änÊ
ΰxäÊ
{] ÓÈ]x{ÎÊ
n]nÎnÊ
Ê
Ê
Ê
Ê
x]ÓÇ{]ÈÇ Ê
]{ÈÎÊ
Ê Ê
Ê Ê
£ Ç]nÓx]ÇÇ Ê
Îx{] änÊ
£ä]Óä£]ÓÓÓÊ
£n]Îä£Ê
Ê
Ê
Ê
Ê
Ê Ê
Óää{Ê Õ ÌÊ
/ ÊfÊ
Ê
Ê
Ê ÛiÊÕ«ÊÌ ÊÌi ÊÞi>ÀÃÊ
Ê
Ê
Ê
Ê Ê
ÛiÀ>}iÊ> Õ> Ê ÌiÀiÃÌÊÀ>ÌiÊ
Ê Ê
Óää{Ê Õ ÌÊ
Ê ÀiÊÌ > Ê£äÊÞi>ÀÃ
/ 1-fÊ
¯Ê
/ fÊ
Ê
ÊÊ Ê
ÛiÀ>}iÊ> Õ> ÌiÀiÃÌÊÀ>Ìi
/ 1-fÊ
¯
Ê
Ê
Ê
Ê
Ê
£ÈÇ]ÓÓä]äääÊ
Îää]äääÊ
{°nÇxÊ
Ê
Ê
Ê
Ê
Î°Ó Ê
Ê
Ê
x]Î ]ä{äÊ
]ÈnÈÊ
Ê
£Ó]ÎÎÈ]xÎÓÊ
ÓÓ]£ÎÓÊ
Ê
Ê
Ê
Ê
Ê
Ê
£Ó]Î Ç]Σ Ê
ÓÓ]Ó{£Ê
Ê
ÓÓ]ÎÈÇ]xÎ Ê
{ä]£ÓnÊ
Ê Ê
Ê Ê
Ê Ê
Ê Ê
Ê Ê
Ê Ê
Ê
Ê
£ÈÇ]ÓÓä]äääÊ
Îää]äääÊ
Ê
Ê
Ê
Ê
£Ç]Ç È]Îx Ê
Σ] ÓÇÊ
Ê
Î{]Çä{]äÇ£Ê
ÈÓ]ÓÈäÊ
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê
Ê/ ÀiiÊÕ«ÊÌ ÊwÛiÊÞi>ÀÃÊ
Ê
Ê
Ê Ê
ÛiÀ>}iÊ> Õ> Ê ÌiÀiÃÌÊÀ>ÌiÊ
Ê Ê
Óää{Ê Õ ÌÊ
/ 1-fÊ
¯Ê
/ ÊfÊ
xä]ÇÓä]{£ÈÊ
nÎ]ÎÎÎÊ
Ó°ääÊ
Ê
Ê
Ê
Ó]nÇÇ]Èx{Ê
{]ÇÓnÊ
Ê
Ê
Ê
Ê
Ê
Ê
Î]äÇÓ]ÈxnÊ
x]ä{nÊ
Ê
Ç]È££]È{{Ê
£Ó]xäÈÊ
Ê
£Î]ÎÈÎ]äÈÇÊ
Ó£] xxÊ
£{]{nä]Ç£ÇÊ
ÓÎ]Ç ÓÊ
Ê
Ó]䣣]Ó£äÊ
Î]Îä{Ê
Ê
Ê
Ê
Ê Ê
Óää{Ê Õ ÌÊ
/ ÊfÊ
Ê
Ê ÛiÊÕ«ÊÌ ÊÌi ÊÞi>ÀÃÊ
Ê
Ê
Ê
Ê Ê
ÛiÀ>}iÊ> Õ> Ê ÌiÀiÃÌÊÀ>ÌiÊ
Ê Ê
Óää{Ê Õ ÌÊ
/ 1-fÊ
¯Ê
/ fÊ
Ê
Ê
£nÓ]x Î]xääÊ
Îää]äääÊ
Ê ÀiÊÌ > Ê£äÊÞi>ÀÃ
Ê
ÊÊ Ê
ÛiÀ>}iÊ> Õ> ÌiÀiÃÌÊÀ>Ìi
/ 1-fÊ
¯
Ê
Ê
Ê
{]nÇxÊ
Ê
Ê
Ê£nÓ]nnxÊ
ÊÎääÊ
Ê Ê
Ê {]Ó£ÎÊ
Ê£xxÊ
Ê Ê
Ê Ê
Ê Ê
Ê
xÎ]x n]äÇäÊ
nn]äÈ£Ê
Ê
£nÓ]x Î]xääÊ
Îää]äääÊ
Ê
Ê
Ê
£Ç]xxÎ]ÎÇxÊ
Ón]n{äÊ
Ê
]ÈÓÓ]nx{Ê
£x]n£äÊ
Ê
£Î]ÎÈÎ]äÈÇÊ
Ó£] xxÊ
£nÓ]nnxÊ
ÎääÊ
Ê
{]Ó£ÎÊ
£xxÊ
Ê
Ê
Ê
£
ä
"/ -Ê/"Ê/ Ê " -" / Ê Ê-/ / / ÌÊ`iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ/À> à >Ì Ê vÊÌ iÊ À } > Ê Ê-«> à ®
"/ ÊÎäÊ Ê* / Ê«i > Ì iÃÊÜiÀiÊ « Ãi`Ê ÊÌ iÊ «> ÞÊ> `ÊÃÕLà ` >À iÃ]Ê ÀÊ ÊÌ i ÀÊ ÀiVÌ ÀÃÊ ÀÊ i iÀ> Ê > >}iÀÃÊLÞÊÌ iÊ i> Ê-Õ«iÀ Ìi `i VÞÊ vÊ-iVÕÀ Ì iÃÊ> `Ê ÃÕÀ> ViÊ ÀÊ> ÞÊ Ì iÀÊV «iÌi ÌÊ>` ÃÌÀ>Ì ÛiÊ>ÕÌ À ÌÞ°Ê ÝVi«ÌÊÌ iÊ«i > ÌÞÊ vÊ£xÊ1 Ê « Ãi`Ê ÊÌ iÊ i iÀ> Ê > >}iÀÃÊ vÊ ÀiÃÌ> Ê V Ê-° °Ê> `Ê ÀiÃÌ> Ê ÀiViÝÊ-° °Ê«ÕÀÃÕ> ÌÊÌ ÊiÝi «ÌÊ Àià ÕÌ ÃÊ cÊ£nÎÊ> `Ê cÊ£n{]ÊÀiëiVÌ Ûi Þ]Ê`>Ìi`Ê «À ÊÓÓ]ÊÓää{]Ê ÊV iVÌ ÊÜ Ì Ê>Ê`i >ÞÊ ÊÌ iÊÃi ` }Ê vÊ v À >Ì ÊÀi >Ì }ÊÌ ÊÌ iÊà >Ài `iÀÃÊ ÃÌ }°Ê Ê-i«Ìi LiÀÊ Óää{ÊÃÕV ÊV «> iÃÊ >ÛiÊV> Vi i`ÊÌ i ÀÊ ÃÌ }Ê ÊÌ iÊÀi} ÃÌÀÞÊ vÊÌ iÊ-Õ«iÀ Ìi `i VÞÊ ÌiÊ c£®°
"/ ÊÎ£Ê Ê-1 - +1 /Ê 6 // iÀiÊ >ÛiÊLii Ê ÊÃÕLÃiµÕi ÌÊiÛi ÌÃÊ`ÕÀ }ÊÌ iÊÞi>ÀÊi `i`Ê iVi LiÀÊΣ]ÊÓää{Ê> `ÊÌ iÊ`>ÌiÊ ÊÜ V ÊÌ iÃiÊw > V > ÊÃÌ>Ìi i ÌÃÊÜiÀiÊ«Ài«>Ài`Ê > Õ>ÀÞÊÓn]ÊÓääx®ÊÜ V Ê V Õ `Êà } wV> Ì ÞÊ>vviVÌÊÌ i ÀÊL> > ViÃÊ ÀÊ ÌiÀ«ÀiÌ>Ì °
"/ ÊÎÓÊ Ê 6 ," / Ê --1 «ÀiÃ>ÃÊ * Ê-° °Ê> `ÊÃÕLà ` >À iÃÊ >ÛiÊ>Ê } ÌiÀ Ê« VÞÊ Ê« >ViÊV à ÃÌ }Ê ÊÌ iÊÃÕÃÌ> >L iÊ`iÛi « i ÌÊ vÊÌ i ÀÊv ÀiÃÌÊ> `Ê `ÕÃÌÀ > Ê>VÌ Û Ì iÃÊ Ê >À ÞÊÜ Ì ÊÌ iÊ i Û À i Ì°Ê ÊÌ ÃÊV ÌiÝÌ]Ê ÛiÃÌ i ÌÃÊ ÊwÝÌÕÀiÃ]ÊiµÕ « i Ì]Ê> `Ê `ÕÃÌÀ > Ê« > ÌÃÊ V Õ`iÊVÕÌÌ } i`}iÊÌiV }Þ]ÊV à ÃÌi ÌÊÜ Ì ÊÌ iÊ >ÌiÃÌÊLÀi> Ì À Õ} ÃÊ ÊÌ ÃÊ >ÌÌiÀ°Ê VV À` } Þ]ÊÌ i ÀÊV ÃÌÃÊ >ÛiÊ VÀi>Ãi`Ê`ÕiÊÌ ÊÌ iÃiÊ>`Û> Við ÃÌÊ vÊÌ iÊÃÕLà ` >À iÃÊ> `Êv>VÌ À iÃÊ >ÛiÊ> Ài>`ÞÊ LÌ> i`Ê ÀÊ >ÛiÊw i`Êv ÀÊViÀÌ wV>Ì Êv ÀÊÌ iÊ -"Ê ääÓÊ> `Ê£{ää£Ê ÌiÀ >Ì > ʵÕ> ÌÞÊÃÌ> `>À`Ã°Ê Ê>`` Ì ]Ê> Õ> ÞÊ Û>ÃÌÊ > `ÊÃÕÀv>ViÊ ÃÊÀiV ÛiÀi`Ê> `Ê«À ÌiVÌi`ÊvÀ ÊiÀ à ÊÌ À Õ} Êv ÀiÃÌ>Ì ° Ý«i ÃiÃÊ VÕÀÀi`Ê Êi Û À i Ì> Ê«À iVÌÃÊ`ÕÀ }ÊÌ iÊÞi>ÀÊ> Õ ÌÊÌ Ê/ fÊx°ÓxÈ°Î £Ê Ê/ 1-fÊ °{ÎäÊ/ fÊΰÎäÇ°{Î{Ê Ê/ 1-fÊx°{Î{Ê ÊÓääή]Ê> }ÊÜ V Ê>ÀiÊiÝ«i ÃiÃÊ Û Û }Ê ÕÌy ÜÊÌÀi>Ì i ÌÊ Ê `ÕÃÌÀ > Ê«À ViÃÃið
£
£
ä
"/ ÊÎÎÊ Ê/ Ê *"- / ÌÊ iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊÌ ÃÊV>«Ì Ê V Õ`iÃÊÌ iÊv Ü }Êw > V > Ê ÛiÃÌ i ÌÃ\ Ê ÃÌ ÌÕÌ Ã Ê
Ê Óää{Ê
/ f ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÓääÎ
/ iÊ i« à ÌÃÊ Ê«ià Ã]ÊÀi `i >Ìi`ÊÌ Ê` >À > V Ê-> Ì> `iÀÊ-> Ì >} Ê > V Ê Ê
Ì L> Ê 6 Ê
iÕÌÃV iÊ > Ê iÊ-° °Ê > V Ê Ài` Ì Ê ÛiÀÃ iÃÊ > V Ê`iÊ iÊ -V Ì >L> Ê > V Ê-iVÕÀ ÌÞÊ -ÕL/ Ì> Ê
£ ]ÇÓn]ÇÇ{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ç]ÈÈ ]ääÇ Ç]nÓÇ]ÎΣÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £Î]ÓÈ{]ÓÇx {]{Ç£]x£nÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £{]äÇn]£Î Î]ÈÎ{]ÎäÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]Î{ ]nnnÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓÈ] ä ]Ç£{ ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {]än{]£äÓ Ê ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÎ]äx£] Îx În]䣣]n£nÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ È ]äxÇ]£ÇÓ
/ iÊ i« à ÌÃÊ Ê«ià Ã]ÊÀi `i >Ìi`ÊÌ Ê 1," > V Ê-> Ì> `iÀÊ-> Ì >} Ê > V Ê iÊ > V Ê 6 Ê
À«Ê > V>Ê > V Ê Àj` Ì Ê ÛiÀÃ iÃÊ -ÕL/ Ì> Ê
Óx]nÓn]È£nÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó{]Çnx]n£ÈÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ]ÈÇx]È ÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ n]Çxx]Ó£ÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÈ]{xÇ]ÎäÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ê Çx]xäÓ]È{äÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ
/ iÊ i« à ÌÊ Ê` >Àð
ÀiÃ` iÀÊ > Ê ° °Ê >ÞiÀ ÃV iÊ > `iÃL> Ê °9°Ê °*°Ê À}> Ê >ÃiÊ > Ê*iÀÖ®Ê °*°Ê À}> Ê >ÃiÊ > Ê Ê iÜÊ9 À Ê
Ì L> Ê ° °Ê Ê iÜÊ9 À Ê - Ê > Ê1°-° °Ê -ÕL/ Ì> Ê
n]ÎnÓ]ÇÎÎÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ n]ÎnÓ]xÈxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Ó]ÈÇÓ]ÓÇ{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]Ç{{]Ó{äÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {]£n£]nn {{ ] n{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]xÈn]Îä£ ÊÓ£]Ç {ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÓ£]Çn Ó£]ÈxÎ]x äÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ x]ÇÇ£] Ç
/ iÊ i« Ã ÌÊ Ê 1,"-°
Ì L> Ê ° °Ê Ê ` Ê À > Ê > Ê -ÕL/ Ì> Ê
£Ç{]䣣ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÈÇ]{ÈÇÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÊÈn]ä{n Ó{£]{ÇnÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Èn]ä{n
/ iÊ i« Ã ÌÃÊ Ê Ì iÀÃÊVÕÀÀi VÞ° > V Ê 6 Ê
Ì L> Ê ° °Ê Ê `ÀiÃÊ > V Ê Àj` Ì Ê Ê*iÀÕÊ > V Ê ViÊ
Ì L> Ê ° °Ê Ê*iÀÕÊ > V Ê-> Ì> `iÀÊ-> Ì >} Ê -ÕL/ Ì> Ê / Ì> Ê`i« Ã ÌÃÊ/ fÊ / Ì> Ê`i« Ã ÌÃÊ/ 1-fÊ
{]ÈÈÈ]ä{ÓÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ ÓÎÓ]ÇÇxÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {£n] £Ó ££ä]ÎxnÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]Î £ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £]{äx nÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £xn]{{Î Ê ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ {]ÈÎ{]äxx x]ä£ä]ÈÈ{ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ x]Ó£Ó]n£x £{ä]{Óä]£ äÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ nä]££ä]ä£{ Óx£] ÓäÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ £Î£]ÈÓ£
/ iÊ`i« à ÌÃÊ Ê i> Ê«ià ÃÊÀi `i >Ìi`ÊÌ Ê` >ÀÊ> `ÊÃÕLÃVÀ Li`ÊÜ Ì Êw > V > Ê ÃÌ ÌÕÌ ÃÊ >ÛiÊLii ÊÛ> Õi`Ê>ÌÊÌ iÊÞi>ÀÊi `]ÊV à `iÀ }ÊÌ iÊÛ> ÕiÊ vÊ«À V «> Ê> `Ê >VVÀÕi`Ê ÌiÀiÃÌÊ vÊÃÕV Ê ÃÌÀÕ i Ì]Ê ÊÌ iÊ> Õ ÌÊ vÊ/ fÊ££È]ÓÎx]{ÈnÊ Ê/ 1-fÊÓän]xÎÓÊ/ fÊÇÓ]ÇÓÓ]ÇÇÇÊ Ê/ 1-fÊ££ ]{nÎÊ ÊÓääή]Ê iÌÊ vÊÌ iÊ` vviÀi ViÊ ÊÌ iÊÛ> ÕiÊ vÊÌ iÊv ÀÜ>À`ÊV ÌÀ>VÌÃÊi ÌiÀi`ÊÌ ÊÀi `i >ÌiÊÌ iÃiÊÌÀ> Ã>VÌ ÃÊÌ Ê` >À°Ê/ iÞÊ >ÛiÊLii ÊÀiV À`i`Ê>ÌÊÌ iÊÞi>À i `Êv> ÀÊÛ> ÕiÊ/ fÊÓ]ÇÓ£]ä£ä®Ê Ê/ 1-fÊ{]nnÓ®Ê/ fÊ Î]ÈÈx]Èäx®Ê Ê/ 1-fÊÈ]äÓÎ®Ê ÊÓääή°
£
£
£
"/ -Ê/"Ê/ Ê " -" / Ê Ê-/ / / ÌÊ`iVi LiÀÊΣ]ÊÓää{Ê> `ÊÓääÎÊ/À> à >Ì Ê vÊÌ iÊ À } > Ê Ê-«> à ®
"/ ÊÎ{Ê Ê " / , Ê "/ -Ê* 9 } ÌiÀ Ê ÌiÃÊ«>Þ>L iÊ`i >Ìi`Ê Ê1-Ê` >ÀÃÊ> Õ ÌÊÌ Ê/ fÊ££]ÇÇÎ]ÎÎäÊ Ê/ 1-fÊÓ£]£ÓÓÊ>ÌÊ iVi LiÀÊΣ]ÊÓää{Ê/ fÊÓx]Çx{]ÇÓÈÊ Ê/ 1-fÊ{Ó]ΣxÊ ÊÓääή]Ê V ÀÀië ` }ÊÌ Ê > ÃÊvÀ ÊÃÕ«« iÀÃÊÀi >Ìi`ÊÌ Ê«À iVÌÊ vÊ ÛiÃÌ i ÌÃÊ ÊwÝi`Ê>ÃÃiÌÃ]Ê>VVÀÕ }Ê> Ê> Õ> Ê>ÛiÀ>}iÊ ÌiÀiÃÌÊÀ>ÌiÊ vÊ{°Ó¯° / iÊLÀi> ` Ü Ê vÊÌ iÃiÊ > ÃÊ ÃÊÌ iÊv Ü }\ Ê -Õ«« iÀ Ê
/ f Óää{Ê
i>à }Ê À}i Ì >Ê£®Ê 6 Ì Ê-° °Ê i iÀ> Ê/Ài>ÃÕÀÞÊ vÊÌ iÊ,i«ÕL VÊ Û>iÀ iÀÊ `À ÌâÊ ÃÌÀ Ê ÃÌ Ê À>Ã Ê Ì`>°Ê iÌÃ Ê i V> Ê*Õ « }Ê 6> iÌÊ LiÀÊ/iV Ê ° °Ê 1-Ê ÌiÀÊ ,>`iÀÊ > >`>Ê "ÌÀ ÃÊ / Ì> Ê / 1-fÊ
iÃÌ >Ì
ÓääÎÊ
Ç°xäx° È£Ê
Ê
>V iÀÞÊ> `ÊiµÕ « i Ì
ΰ ÈÇ°ÈÓxÊ ÓÇ{°ÈxÎÊ Ê Ê Ê Ê Ê Ê Ê Óx°ä £Ê ££°ÇÇΰÎÎäÊ Ó£°£ÓÓÊ
£Ó°£{{° ÈxÊ x{ °{{ Ê Î°£ Ó°ä£ÇÊ Ó°nn{°n{{Ê £°n È° n{Ê £°Ón °ÇÓÈÊ £°äÓx°nx{Ê x£°{x{Ê ÇÓä°nÎÎÊ £°ä n°ÈääÊ Óx°Çx{°ÇÓÈ {ӰΣx
>V iÀÞÊ> `ÊiµÕ « i Ì
ÕÃÌ ÊÌ>Ýià >V iÀÞÊ> `ÊiµÕ « i Ì >V iÀÞÊ> `ÊiµÕ « i Ì >V iÀÞÊ> `ÊiµÕ « i Ì >V iÀÞÊ> `ÊiµÕ « i Ì >V iÀÞÊ> `ÊiµÕ « i Ì >V iÀÞÊ> `ÊiµÕ « i Ì >V iÀÞÊ> `ÊiµÕ « i Ì "Ì iÀÊwÝi`Ê>ÃÃiÌÃ
/ iÃiÊ > ÃÊ >ÌÕÀiÊLiÌÜii ÊÓääÈÊ> `ÊÓää ° / iÊ« ÀÌ ÊV ÀÀië ` }ÊÌ ÊVÕÀÀi ÌÊ >ÌÕÀ Ì iÃÊÜ V Ê>ÀiÊÃ Ü Ê Ê } ÌiÀ Ê >L Ì iÃÊÜ Ì ÊVÕÀÀi ÌÊ >ÌÕÀ Ì iÃÊÕ `iÀÊ ÕÀÀi ÌÊ >L Ì iÃÊ ÃÊ>ÃÊv ÜÃ\ Ê -Õ«« iÀ Ê
/ f
i>à }Ê À}i Ì >Ê£®Ê 6 Ì Ê-° °Ê 6> iÌÊ LiÀÊ/iV Ê ° °Ê i iÀ> Ê/Ài>ÃÕÀÞÊ vÊÌ iÊ,i«ÕL VÊ Û>iÀ iÀÊ `À Ìâ ÃÌÀ Ê "Ì iÀÃÊÊ / Ì> Ê / 1-fÊ
Óää{Ê
ÓääÎÊ
£] xÇ]{Ç Ê £]ÇäÎ]{n{Ê Î ]{nÎÊ äx]Ó ÇÊ Ê Ê Ê£Ç]{ ÎÊ x]xÓÎ]ÓÎÈÊ ] ä Ê
Ó{]äΣ]ÎÇ{Ê ££] Ç]£ÎÎÊ £]äÓx]nx{Ê £]x{x]ÇÓÈÊ xÈÇ]ÎxxÊ xÎÈ]ÈäxÊ Ê£]£ÓÎ] £xÊ {ä]nÓÇ] ÈÓ ÈÇ]änä
iÃÌ >Ì
>V iÀÞÊ> `ÊiµÕ « i Ì >V iÀÞÊ> `ÊiµÕ « i Ì >V iÀÞÊ> `ÊiµÕ « i Ì
ÕÃÌ ÊÌ>Ýià >V iÀÞÊ> `ÊiµÕ « i Ì >V iÀÞÊ> `ÊiµÕ « i Ì "Ì iÀÊwÝi`Ê>ÃÃiÌÃ
£®Ê ÕÀ }ÊÓää{ÊÌ iÊÃÕLà ` >ÀÞÊ >Ê*>«i iÀ>Ê`iÊ >Ê* >Ì>Ê-° °]ÊÀiÃV i`Õ i`ÊÌ iÊ`iLÌÊÀi >Ì }ÊÌ ÊÌ iÊ i>ÃiÊV ÌÀ>VÌ°Ê ÃiµÕi Ì Þ]ÊÌ iÊÀiëiVÌ ÛiÊ`iLÌÊÃ Ü Ê ÊÌ iÊà ÀÌÊÌiÀ Ê ÊÌ iÊ «ÀiÛ ÕÃÊÞi>ÀÊ Ê ÕÀÀi ÌÊ« ÀÌ Ê vÊ } ÌiÀ Ê >L Ì iÃÊ ÃÊ«ÀiÃi Ìi`ÊÕ `iÀÊ } ÌiÀ Ê >L Ì iÃÊ Ê ÌiÃÊ«>Þ>L iÊ ÊÓää{ÆÊL Ì Ê> Õ ÌÃÊ>ÀiÊiÝ« Ãi`Ê iÌÊ vÊ`iviÀÀi`Ê ÌiÀiÃÌ°
"/ ÊÎxÊ Ê ", Ê 1,, 9Ê/, - / " / iÊ>VV Õ Ì }ÊÀiV À`Ê vÊ «ÀiÃ>ÃÊ * Ê-° °Ê> `Ê V> ÊÃÕLà ` >À iÃÊ>Ài>Ê Ê i> Ê«iÃ Ã°Ê Ài } ÊÃÕLà ` >À iÃÊ>ÀiÊV ÛiÀÌi`ÊÌ Ê i> Ê«ià ÃÊ>ÃÊ ` V>Ìi`Ê Ê ÌiÊÓÊv®°Ê / iÊ>VV «> Þ }Êw > V > ÊÃÌ>Ìi i ÌÃÊ >ÛiÊLii ÊÌÀ> à >Ìi`Ê Ì Ê1 Ìi`Ê-Ì>ÌiÃÊ` >ÀÃÊ>ÃÊv Üð / iÊL> > ViÊà iiÌÊÃÌ>Ìi i ÌÊ vÊ V i]ÊÃÌ>Ìi i ÌÊ vÊV>à Êv ÜÃÊ> `Ê> Õ ÌÃÊ ÊÌ iÊ ÌiÃÊÌ ÊÌ iÊv > V > ÊÃÌ>Ìi i ÌÃÊ>ÃÊ vÊ iVi LiÀÊΣ]ÊÓää{Ê >ÛiÊLii ÊÌÀ> à >Ìi`Ê Ì Ê1 Ìi`Ê-Ì>ÌiÃÊ` >ÀÃÊ>ÌÊÌ iÊÞi>ÀÊi `ÊiÝV > }i`ÊÀ>ÌiÊ vÊfÊxxÇ°{äÊÌ Ê1-fÊ£°Ê ÊÌ iÊV>ÃiÊ vÊÌ iÊ«À ÀÊÞi>ÀÊÓääÎ]ÊÌ iÞÊÜiÀiÊÌÀ> à >Ìi`Ê>ÌÊÌ iÊÞi>ÀÊi `ÊiÝV > }iÊÀ>ÌiÊ vÊ fÊx ΰnäÊÌ Ê1-fÊ£]ÊLÕÌÊ Ê>ÊL>à ÃÊ vÊ Ì½ÃÊ ÃÌ À V> ÊÛ> ÕiÃÊ Ê i> Ê«ià ÃÊ>ÌÊ iVi LiÀÊΣ]ÊÓääΰ Ê
Ê Ê
, V>À` Ê iÌâÊ6 À«> Ê
ÌÀ iÀÊ
£
£
Ó
ÀÌÕÀ Ê >V i >Ê }ÕiâÊ
ivÊ ÝiVÕÌ ÛiÊ"vwViÀ
, *",/Ê" Ê * /Ê
"1 / /-
, *",/Ê" Ê * /Ê
"1 / //À> Ã >Ì Ê vÊÌ iÊ À } > Ê Ê-«> Ã ® -> Ì >} ]Ê > Õ>ÀÞÊÓn]ÊÓääx / ÊÌ iÊ- >Ài `iÀÃÊ> `Ê ÀiVÌ ÀÃ] «ÀiÃ>ÃÊ * Ê-° °
7iÊ >ÛiÊ>Õ` Ìi`ÊÌ iÊ>VV «> Þ }ÊV à `>Ìi`ÊL> > ViÊà iiÌÃÊ vÊ «ÀiÃ>ÃÊ * Ê-° °Ê> `ÊÃÕLà ` >À iÃÊ >ÃÊ vÊ iVi LiÀÊ Î£]Ê Óää{Ê > `Ê ÓääÎ]Ê > `Ê Ì iÊ Ài >Ìi`Ê V à `>Ìi`Ê ÃÌ>Ìi i ÌÃÊ vÊ V iÊ > `Ê V>Ã Ê y ÜÃÊv ÀÊÌ iÊÞi>ÀÃÊÌ i Êi `i`°Ê/ iÃiÊw > V > ÊÃÌ>Ìi i ÌÃÊ V Õ` }ÊÌ iÊÀi >Ìi`Ê ÌiÃÊÌ iÀiÌ ®Ê>ÀiÊ Ì iÊÀië à L ÌÞÊ vÊÌ iÊ «> Þ½ÃÊ > >}i i Ì°Ê"ÕÀÊÀië à L ÌÞÊ ÃÊÌ ÊiÝ«ÀiÃÃÊ> Ê « Ê ÊÌ iÃiÊ w > V > ÊÃÌ>Ìi i ÌÃÊL>Ãi`Ê Ê ÕÀÊ>Õ` Ìð 7iÊV `ÕVÌi`Ê ÕÀÊ>Õ` ÌÃÊ Ê>VV À`> ViÊÜ Ì Ê>Õ` Ì }ÊÃÌ> `>À`ÃÊ}i iÀ> ÞÊ>VVi«Ìi`Ê Ê i°Ê/ ÃiÊ ÃÌ> `>À`ÃÊÀiµÕ ÀiÊÌ >ÌÊÜiÊ« > Ê> `Ê«iÀv À ÊÌ iÊ>Õ` ÌÊÌ Ê LÌ> ÊÀi>à >L iÊ>ÃÃÕÀ> ViÊ>L ÕÌÊÜ iÌ iÀÊ Ì iÊw > V > ÊÃÌ>Ìi i ÌÃÊ>ÀiÊvÀiiÊ vÊ >ÌiÀ > Ê ÃÃÌ>Ìi i Ì°Ê Ê>Õ` ÌÊ V Õ`iÃÊiÝ> }]Ê Ê>ÊÌiÃÌÊL>à Ã]Ê iÛ `i ViÊÃÕ«« ÀÌ }ÊÌ iÊ> Õ ÌÃÊ> `Ê` ÃV ÃÕÀiÃÊ ÊÌ iÊw > V > ÊÃÌ>Ìi i ÌÃ°Ê Ê>Õ` ÌÊ> Ã Ê V Õ`iÃÊ >ÃÃiÃà }ÊÌ iÊ>VV Õ Ì }Ê«À V « iÃÊÕÃi`Ê> `Êà } wV> ÌÊiÃÌ >ÌiÃÊ >`iÊLÞÊ > >}i i Ì]Ê>ÃÊÜi Ê>ÃÊ iÛ> Õ>Ì }ÊÌ iÊ ÛiÀ> Êw > V > ÊÃÌ>Ìi i ÌÊ«ÀiÃi Ì>Ì °Ê7iÊLi iÛiÊÌ >ÌÊ ÕÀÊ>Õ` ÌÃÊ«À Û `iÊ>ÊÀi>à >L iÊ L>à ÃÊv ÀÊ ÕÀÊ « ° Ê ÕÀÊ « ]ÊÌ iÊV à `>Ìi`Êw > V > ÊÃÌ>Ìi i ÌÃÊÀiviÀÀi`ÊÌ Ê>L ÛiÊ«ÀiÃi ÌÊv> À Þ]Ê Ê> Ê >ÌiÀ > Ê ÀiëiVÌÃ]ÊÌ iÊw > V > Ê« Ã Ì Ê vÊ «ÀiÃ>ÃÊ * Ê-° °Ê> `ÊÃÕLà ` >À iÃÊ>ÃÊ vÊ iVi LiÀÊΣ]ÊÓää{Ê> `Ê ÓääÎ]Ê> `ÊÌ iÊÀiÃÕ ÌÃÊ vÊÌ i ÀÊ «iÀ>Ì ÃÊ> `ÊV>à Êy ÜÃÊv ÀÊÌ iÊÞi>ÀÃÊÌ i Êi `i`]Ê ÊV v À ÌÞÊÜ Ì Ê >VV Õ Ì }Ê«À V « iÃÊ}i iÀ> ÞÊ>VVi«Ìi`Ê Ê i°
Ê >Û iÀÊ >Ì V>Ê i i Ê ,ÕÌ\ÊÇ°ääΰÈn{ Î
£
£
Î
OVERSEAS REPRESENTATIVES
CMPC FORESTAL Benelux Koninklijke Eduard Van Leer B.V. Jodenbreestraat 152-154 1011 NS Ámsterdam Holland, Belgium, Luxemburg Tel. : (31-20) 622 2324 Fax : (31-20) 624 4500 Tlx.: 11267 LEE Mr. Goderd H. Graafland Mr. Martin S. Den Butter CMPC Asia Limited Toto Bldg. 6F-5-1-4, Toranomon - Minato-ku, Tokyo 105-0001 Japan Tel. : (81-3) 5733 2570 Fax : (81-3) 3432 3005 Mr. Patricio Arenas CMPC USA CMPC USA, Inc. 1050 Crown Pointe Parkway Suite 1590 Atlanta, GA 30338 Tel. : 1 (770) 551 2640 Fax : 1 (770) 551 2641 USA Mr. Pablo Sufan China Palmas International Co., Ltd. 1266 Nan Jing West Road, 39F, Plaza 66, Shanghai 200040, China Tel : (86-21) 6288 2184 Fax : (86-21) 6288 3988 5228 2326 Hot line: 86 1382 9233766 Mr. Peter Chang Egypt Sherif Exp & Imp. 4, Adib Street Alexandria Egypt Tel. : (203) 597 2896 Fax : (203) 597 1463 385 1465063 Mr. Murat Pasic Japan Sakin Corporation Toto Bldg. 6F-5-1-4, Toranomon-Minato-ku, Tokyo 105-0001 Japan Tel. : (81-3) 5733 2570 Fax : (81-3) 3432 3005 Mr. Kenji Hatogai Sato Korea Dupoong Corporation 287, 11, Yangjae-Dong Socho-Ku Seoul Korea 137-130 Tel. : (822) 575 6761-4 Fax : (822) 577 4963-4 Mr. S.H. Ahn Mexico Comiexport S.A. de C.V. Chichen Itza Nº 4955 Colonia Mirador del Sol, Zapopan, Jalisco Mexico Tel. : (52-3) 628 9780 Fax : (52-3) 125 0379 Mr. Pedro Arellano
1
1
4
Middle East United Agencies Suite Nº 801, Khalid Al Attar Tower, Sheik Zayed Road, Post Box 2212 Dubai, U.A.E. Tel. : (971-4) 332 2443 Fax : (971-4) 332 2553 www.uadubai.com Mr. Vijai Nihalani Spain Eliz Atea 8-2º A 48280 Lekeitio Bizcaia Spain Tel. : (34-94) 684 0007 Fax : (34-94) 684 3189 Mr. Ramón Zarandona García Taiwan COPC International Ltd. 22F-1, 447, Sec 3, Win Hsin Road, Taichung, Taiwan, R.O.C Taiwan Tel. : (886-4) 2296 8736 Fax : (886-4) 2296 8430 Mr. Peter Chang United Kingdom Price & Pierce Softwoods Limited Cavendish House, 40 Goldsworth Road, Woking Surrey GU21 1JT England Tel. : (44-1483) 221 800 Fax : (44-1483) 726 203 Mr. Stephen Pitt CMPC CELULOSA S.A. CMPC Europe Limited 5 Dukes Gate Acton Lane London W4 5DX Tel. : (44-20) 899 69960 Fax : (44-20) 899 69967 Argentina Productos Forestales S.A. PROFORSA Laprida 3278 piso 2, of. 43 1642 San Isidro, Buenos Aires Tel. : (54-11) 4735 2733 Fax : (54-11) 4735 2740 Australia Silvania Resources, Inc. 1820 N. Corporate Lakes Blvd. Suite 307 Weston, Florida 33326 U.S.A Tel. : (1-954) 385 4890 Fax : (1-425) 944 1836 Benelux Euro Fibres S.A. 18 Avenue Lavoisier B-1300 Wavre Belgium Tel. : (32-10) 23 74 50 Fax : (32-10) 23 74 52 Bolivia Hein Ltda. Avda. Arce 2396 La Paz Tel. : (591-2) 244 2786 244 0945 Fax : (591-2) 244 1188
Brazil Claudio Maresca, Representante Rua Itapicuru, 369 - piso 10 Conj. 1003, Perdizes 05006 -000 Sao Paulo - SP Tel. : (55-11) 3864 1119 Fax : (55-11) 3675 7519 China China International Tourism & Trade Co., Ltd. (CITTC) 2F International Convention Center N° 8 Beichendonglu Beijing 100101 Tel. : (86-10) 8497 3322 Fax : (86-10) 8497 3339 CellMark AB, Shanghai Office Room 1901, 205 South Mao Ming Road Rui Jin Building Shanghai 200020 Tel. : (86-21) 6473 0266 Fax : (86-21) 6473 0030 Colombia Herzig & Cía. S.A. Carrera 50 N 6-41 Medellín Tel. : (57-4) 255 2122 Fax : (57-4) 285 5805 Eastem Europe W. Heinzel A.G. Wagramer Strasse 28-30 Viena A-1223 Austria Tel. : (43-1) 260 110 Fax : (43-1) 263 6363 Ecuador Alter Cia Ltda. Almagro 1550 y Pradera Edificio P.A. Kingman, piso 4B Quito Tel. : (593-2) 290 5531 Fax : (593-2) 256 4571 France Larsen & Danglade 72, Rue La Boetie 75008 Paris Tel. : (33-1) 5659 7799 Fax : (33-1) 4225 9725 Germany and Austria GUSCO Handel - G. Schürfeld & Co. Mönckebergstrasse 31 D-20095 Hamburg Tel. : (49-40) 333 040 Fax : (49-40) 333 04100 India CellMark India Pvt. Ltd. 3rd Floor, Mustafa Bldg. 7 Sir P.M. Road Mumbai 400 001 Tel. : (91-22) 2266 1912 Fax : (91-22) 2266 1914 Indonesia Cellmark Interindo Trade Pt. JI. Raya Jatiwaringin N° 54 Pondok, Gede 17411 Jakarta Tel. : (62-21) 848 0130 Fax : (62-21) 848 0140
Italy CMP Cellulosa Marketing SARL 3 Chemin Frank-Thomas 32 CHF-1200 Geneva Suiza Tel. : (41-22) 707 4101 Fax : (41-22) 700 0062
Thailand CellMark (Thailand) Co. Ltd. 2024/139-140 Rimtangrodfai Road Prakanong, Bangkok 10250 Tel. : (66-2) 333 1300 Fax : (66-2) 333 1299
Japan Hirom Corporation Toto Bldg. 6th. Fl. 5-1-4 Toranomon Minato-ku Tokyo 105-0001 Tel. : (81-3) 5733 5893 Fax : (81-3) 5733 5894
United Kingdom F.G. Evans & Co. (Pulp) Ltd. 15 Manor Courtyard Hughenden Avenue High Wycombe, Bucks HP13 5RE Tel. : (44-1494) 450 692 Fax : (44-1494) 471 457
Korea Heungbo Industrial Co., Ltd. 4th Fl. HB Bldg., 627-17 Sinsa-Dong, Kangnam-Gu Seoul, 135-895 Tel. : (82-2) 3448 5131 Fax : (82-2) 3448 5132
Uruguay Arturo Nogueira Representaciones 18 de Julio 1044. piso 2 Esc. 204 Montevideo Tel. : (598-2) 902 0630 Fax : (598-2) 902 0630
Mexico Paxell International S.A. de CV. Fuente de Pirámides No 1-506 Tecamachalco Mex. 53950 Mexico Tel. : (52-55) 293 1403 Fax : (52-55) 293 1377
USA International Forest Products Corp. One Patriot Place Foxboro, MA 02035 Tel. : (1-508) 698 4600 Fax : (1-508) 698 1500
Peru Inunsa S.A. Av. Mariategui # 218 Lima 11 Tel. : (51-1) 471 8990 Fax : (51-1) 470 6061
Venezuela CellMark Pulp & Paper Inc. C/O Rero, C.A. Torre Phelps, piso 19, Of. A. Plaza Venezuela Caracas, 1010-A Tel. : (58-212) 781 9501/2476 Fax : (58-212) 781 5932/6976
Portugal Sanches de Gama & Cía. Lda. Rua Tomás Ribeiro, 50 5th Floor 1050-231 Lisboa Tel. : (351-21) 313 9260 Fax : (351-21) 357 6572 South Africa Dennis C. Money Esq. c/o Bimac International 58A Curzon Road Bryanston Sandton South Africa Tel. : (27-11) 462 9238 Fax : (27-11) 462 2493 Spain Northern Pulp Cellulose Sales S.A. Almagro 21 28010 Madrid Tel. : (34-91) 310 1526 Fax : (34-91) 319 1910 Switzerland GUSCO Handel - G. Schürfeld & Co. Mönckebergstrasse 31 D-20095 Hamburg Tel. : (49-40) 333 040 Fax : (49-40) 333 04100 Taiwan Beauflex International Corp. 21 FL. No 27-5, Chung Cheng East Rd. Sec. 2 Tanshui 251, Taipei County Tel. : (886-2) 8809 8666 Fax : (886-2) 8809 8669
CARTULINAS CMPC S.A. Argentina Cartulinas CMPC Argentina Intendente Rabanal 3120 1437 Capital Federal Buenos Aires Tel. : (54-11) 4630 0290 Fax : (54-11) 4630 0295 apersico@cmpc.com.ar Brazil Knemitz International Ltda. Rua Borba Gato, 331 Bloco G, Sala 191 Cep 04747-030 Alto de Boa Vista Sao Paulo - SP Tel./Fax : (55-11) 5522 1500 knemitz.cmpc@terra.com.br China China International Tourism & Trade Co. Ltd. (CITTC) 2 F International Convention Center 8 Beichendonglu Ubeijing 100101 Beijing Tel. : (8610) 8497 3322 Fax : (8610) 6493 3339 cittc@mx.cei.gov.cn Colombia J.A.Guevara Representaciones Carrera 127 N° 9-45, Casa # 7 Cali Colombia Tel. : (57-2) 555 1696 Fax : (57-2) 682 0895 jagrepresent@uniweb.net.co
Continental Europe Gusco Handel G. Schürfeld + Co Mönckebergstr 31 D-20095 Hamburg Germany Tel. : (49-40) 333 040 Fax : (49-40) 333 04100 info@gusto.hh.eunet.de Costa Rica, El Salvador and Panamá Jorosa 250 metros al Norte del Supersaretto Apartamento # 4 San José Costa Rica Tel. : (506) 289 7736 / 37 Fax : (506) 289 7739 randallr@jorosacr.com Ecuador Alter y Cía. Ltda. Almagro 1550 y Pradera Edif. P.A. Kingman, piso 4B Quito Tel. : (593-2) 290 5531 254 7035 Fax : (593-2) 254 7036 alter@access.net.ec J.G.B. Representaciones (Propapel) Córdova 810 y Víctor M. Rendon - Piso 17, of. 2 Guayaquil Tel. : (593-4) 2300 734 Fax : (593-4) 2313 070 jguzman@srv1telconet.net England Profor (UK) Ltd. 44 Dartford Road Sevenoaks TN13 3TQ Kent Tel. : (44-1732) 456 699 Fax : (44-1732) 743 082 board7oaks@aol.com Guatemala Cellmark Inc. 50 Avda. B 0-46 Zona 11, Molino de las Flores Ciudad de Guatemala Tel. : (50-2) 431 2092 Fax : (50-2) 438 0455 cellmark@guate.net Hong Kong Great China Papers Co. Ltda. 2105 MassMutual Tower 38 Gloucester Rd., Wanchai Hong Kong Tel. : (852) 2865 3618 Fax : (852) 2865 3077 gcpsales@netvigator.com Mexico Federico Escoto Tamuin N° 2 Col San Jerónimo CP 10400 Aculco Mexico D.C. Tel./Fax : (52-55) 5595 3504 Tel./Fax : (52-55) 5668 3458 escoto@cmpcmexico.com.mx Paraguay Marea SRL Patricio Colman 400 Tourin Park Pablo Rojas - Ciudad del Este Tel./Fax : (595-61) 509 118 marea@cde.rieder.net.py
Peru Inunsa S.A.C. Av. Maritegui 218 Lima 11 Tel. : (51-1) 471 8990 Fax : (51-1) 470 6061 inunsasac@millicom.com.pe Southeast Asia Roxcel Handelges. mbH Thurngasse 10 A-1090 Viena Austria Tel. : (43-1) 40156201 Fax : (43-1) 401567200 cornelis.geest@roxcel.com Uruguay A.Nogueira Representaciones Av. 18 de Julio 1044, P-2 Of. 204 Montevideo Tel. : (598-2) 901 5066 Fax : (598-2) 902 0630 anrepr@dedicado.net.uy Venezuela Cellmark Inc. Av. Principal del Bosque, Edificio Suzet Planta Baja, Of. 1 y 2, Urbanización El Bosque Caracas Tel. : (58-212) 953 8064 Fax : (58-212) 763 2326 cmmgeo@attglobal.net
Ramírez Díaz de Espada Industrial y Comercial S.A.E.C.A. Raul Díaz de Espada y Curupayty Fernando de la Mora Paraguay Tel. : (595-21) 518 1000 Fax : (595-21) 518 1209 gerencia_general@rdesa.com.py Mr. Juan M. Pozzán
China, Hong Kong and Vietnam Eurocell International Ltd. 4002 Central Plaza, 18 Harbour Road, Hong Kong Tel. : (852) 2511 2282 Fax : (852) 2507 2053 louis@eurocell.com www.eurocell.com Mr. Louis Chan
Peru KINTOS S.A. Jirón Juno 102 Urbanización La Campiña Chorrillos, Lima 9 Tel. : (51-1) 252 3343 Fax : (51-1) 467 0137 agranda@kintos.com.pe www.kintos.com Mr. Alfredo Granda
CMPC PRODUCTOS DE PAPEL S.A.
Colombia INVERSANES LIMITADA Avenida 15 No. 122-71 Torre 1 - Oficina 205 Bogotá, Colombia Tel. : (57-1) 620 2930 629 1047 Fax : (57-1) 629 1047 jsandino@elsitio.net.co Mr. Juan Camilo Sandino
United Kingdom International Forest Products (UK) Winchombe House Bartholomew Street Newbury, Berkshire RG 14 5BN Tel. : (44) 1635 581732 Fax : (44) 1635 581735 jonathanh@ifpcorp.com www.ifpcorp.com Mr. Jonathan Heywood
ENVASES IMPRESOS - CHIMOLSA Argentina, Brazil and Uruguay Raúl Scialabba Calle Bulnes 2791 6to piso Buenos Aires Tel. : (54-11) 4806 0774 Cel : (54-911) 5004 0002 rsciala@ciudad.com.ar Peru Imexagro S.A.C. Reinaldo Avendaño / Jorge Avendaño Calle Los Jazmines 125 Urb. Valle Hermoso - Surco Lima Tel. : (51-1) 275 5002 Fax : (51-1) 275 4946 javendano@imexagro.com.pe FABI ARGENTINA - CHIMOLSA
CMPC TISSUE S.A. Bolivia Proesa Av.Arce 2847, La Paz Tel. : (591-2) 2430 642 Fax : (591-2) 2411 306 lurquizo@proesabol.com Mr. Luis Roberto Urquizo Ecuador Distribuidor Zona La Costa Maxin S.A. Mapasingue este, calle 4ta NS 122 y Vía Daule Post Box 09-01-7013 Guayaquil Tel. : (593-4) 235 2000 Fax : (593-4) 235 4411 maxin@interactive.net.ec Mr. Rodrigo Campos Distribuidor Zona la Sierra Intermedia C.A. Inmomedia Vía a Llano s/n (Ciudadela Alegría) Post Box: 17-1106153 Tel. : (593-2) 282 0760 Fax : (593-2) 282 0753 jnajas@porta.net Mr. Juan Najas Paraguay Trovato CISA Calle Central 1340 Asunción Tel. : (595-21) 210 556 Fax : (595-21) 214 994 mtrovato@trovatocisa.com www.trovatocisa.com Ing. Marco Trovato
Uruguay P.R.I. y Asociados Leyenda Patria 3012 Oficina 401 C.P. 11300 Montevideo Tel. : (5982) 711 8753 (5989) 442 8848 Fax : (5982) 711 8753 Gerente: Fernando Incerti fincerti@adinet.com.uy INDUSTRIAS FORESTALES S.A. INFORSA Argentina WAHREN ARGENTINA Ricardo Güiraldes 916/924, 1º Acassuso (1642) Buenos Aires - Argentina Tel. : (54-11) 4747 0799 Fax : (54-11) 4747 1311 gustavo@wahren.com.ar Mr. Gustavo Wahren pedro@wahren.com.ar Mr. Pedro Wahren Bolivia HEIN LTDA. Avenida Arce 2396, La Paz Tel. : (591-2) 244 2786 244 0945 Fax : (591-2) 244 1188 Post Box de Correo 1811, La Paz cfhein@megalink.com Mr. Carlos Hein Brazil Cia. T. Janer Com. E Ind. Av. Henry Ford 811 03109-901 Sao Paulo, SP Tel. : (55-11) 2124 8400 Fax : (55-11) 2124 8432 baralle@tjaner.com.br www.tjaner.com.br Mr. Luiz Carlos Baralle
Dominican Republic and Puerto Rico Jorge Santelli Inc. 3 Westfield Lane White Plains, NY 10605 USA Tel. : (1-914) 428 8583 Fax : (1-914) 761 3644 jsantelli@optonline.net Mr. Jorge Santelli
Uruguay Arturo Nogueira Representaciones Avda. 18 de Julio No. 1044, Oficina 204 Montevideo Tel : (598-2) 901 5066 Fax : (598-2) 902 0630 anrepr@montevideo.com.uy Mss. Selina Nogueira
Ecuador ALTER CIA. LIMITADA Almagro 1550 y Pradera, Edificio P.A. Kingman, Piso 4B, Quito Tel. : (593-2) 290 5531 Fax : (593-2) 254 7036 Mr. Esteban Perez proserfin@alter-ec.com
USA Anticosti, LLC 668 Wyckoff Avenue, Wyckoff, New Jersey 07481 Tel. : (1-201) 891 5454 Fax : (1-201) 891 7104 bparrilla@anticosti.com Mr. Bill Parrilla
JGB REPRESENTACIONES Córdova 810, Esq. Víctor M. Rendón Piso 17, Oficina 2, Guayaquil Tel. : (593-4) 2300 734 Fax : (593-4) 2313 070 Mr. Julio Guzmán jguzman@telconet.net
Venezuela INVERSIONES CATORCE SRL Avda. Libertador, Edificio La Línea, Torre A, Piso 1, Caracas 1050 Tel. : (58-212) 793 3308 Fax : (58-212) 782 3802 Mr. Adán Celis dromer@cantv.net Mr. Dagoberto Romer
India, Thailand and Korea KAVO International Paper Trading Birkenstrasse 27 85604 Zorneding / Germany Tel. : (49) 8106 995080 Fax : (49) 8106 23989 VHasemann@t-online.de Mr. Volker W. Hasemann Mexico Soma Comercializadora, S.A. de C.V. Insurgentes Sur 953 104-A Col. Nápoles, C.P. 03810 Mexico D.F. Tel. : (52) 55 5536 6603 Fax : (52) 55 5523 3749 fsovando@prodigy.net.mx Mr. Fernando Sánchez de Ovando Paraguay PYPA S.R.L. Roque Centurión Miranda 1042 Con Melvin Jones, Barrio Manorá Asunción Tel. : (595-21) 662 220 Fax : (595-21) 605 067 rod@conexion.com.py Mr. Rodolfo Serrano
1
1
5
BANKERS
In Chile
Abroad
ABN AMRO
ABN AMRO Bank
Banco BICE
Banca Commerciale Italiana
Banco Crédito e Inversiones
Banca Natzionale del Lavoro
Banco de Chile
Banco Bilbao Vizcaya Argentaria
Banco Santander - Chile
Banco Central Hispano Americano
Banco Security
Banco de Crédito del Peru
BancoEstado
Banco Santander Central Hispano
BankBoston
Bank of America
BBVA
Barclays Bank
Citibank
Bayerische Landesbank
Corpbanca
BNP Paribas
Deutsche Bank Chile
Brown Brothers Harriman
HSBC Bank USA
Caja Madrid
JP Morgan Chase Bank
Citibank
Scotiabank Sud Americano
Credit Lyonnais DEG Deutsche Investitions und Entwicklungsgesellschaft Deutsche Bank Dresdner Bank Export Development Canada Goldman Sachs HSBC Bank ING Bank JPMorgan Chase Bank Mizuho Corporate Bank Morgan Stanley Dean Witter N.M. Rothschild & Sons Nordea Bank Rabobank Royal Bank of Canada Sanpaolo IMI Société Générale The Bank of Nova Scotia The Bank of Tokyo-Mitsubishi UBS Warburg Wachovia Bank
1
1
6
GENERAL INFORMATION
EMPRESAS CMPC S.A. Chilean Public Liability Company incorporated by public deed on February 5, 1920. Authorized by Supreme Decree Nº 589 of March 12, 1920. Listed in the Trade Registry for 1920 on page 366 Nº 208. Listed with the Registry of Securities on March 31, 1982 under Nº 0115. OFFICES: General Management Agustinas 1343, P. 10 Tel. : 56 (2) 441 2000 Fax : 56 (2) 671 1957 Télex 240530 PAPEL CL Post Code 6500587 Post Box 297, Correo Central Santiago R.U.T. 90.222.000-3 Share Registry Agustinas 1343, Entrepiso Tel. : 56 (2) 441 2000 Fax : 56 (2) 697 0539 Post Code: 6500587 Post Box 297, Correo Central Santiago INVERSIONES CMPC S.A. Agustinas 1343, P. 9 Tel. : 56 (2) 441 2000 Fax : 56 (2) 671 0621 Télex 240530 PAPEL CL Post Box 297, Correo Central Santiago SUBSIDIARIES IN CHILE FORESTAL MININCO S.A. General Management Agustinas 1343, P. 4 Tel. : 56 (2) 441 2000 Fax : 56 (2) 672 9054 Post Box 297, Correo Central Santiago Concepción Office Los Canelos 79, San Pedro de la Paz Tel. : 56 (41) 503 300 Fax : 56 (41) 373 431 Post Box 43-C forestalmininco@formin.cmpc.cl Concepción Los Ángeles Office Avenida Alemania 751 Tel. : 56 (43) 405 300 Fax : 56 (43) 312 701 Post Box 399 Los Ángeles Vivero Carlos Douglas Fundo Las Tres Marías y María Pilar Tel./Fax : 56 (43) 197 4666 Yumbel
CMPC MADERAS S.A.
FORESTAL COIHUECO S.A.
CARTULINAS CMPC S.A.
General Management Agustinas 1343, P. 4 Tel. : 56 (2) 441 2000 Fax : 56 (2) 696 8833 696 5437 Post Box 297, Correo Central cmpcmaderas@cmpc.cl cmpcforestry@cmpc.cl Santiago
Los Canelos 79 Tel. : 56 (41) 503 300 Fax : 56 (41) 373 431 Post Box 43-C Concepción
General Management Agustinas 1343, P. 5 Tel. : 56 (2) 441 2020 Fax : 56 (2) 672 3450 Post Code 6500587 cartulinas-cmpc@gerencia.cmpc.cl Santiago
heas Office Avda. Alemania 751 Tel. : 56 (43) 405 500 Fax : 56 (43) 312 750 Post Box 30 - D Los Ángeles
General Management Av. Francisco Encina s/n, Paillihue Tel. : 56 (43) 631 000 Fax : 56 (43) 320 497 Post Box 32-D fmontea@famasa.cmpc.cl Los Ángeles
Remanufacturing Mill Panamericana Sur Km. 494 s/n (1 Km. interior cruce La Mona) Tel. : 56 (43) 405 520 321 977 Fax : 56 (43) 323 372 Post Box 30 - D Los Ángeles Mulchén Mill Panamericana Sur Km. 540 s/n Tel. : 56 (43) 405 540 561 371 Fax : 56 (43) 561 225 Post Box 152 Mulchén
FORESTAL Y AGRÍCOLA MONTE ÁGUILA S.A.
Hacienda Rucamanqui Rucamanqui s/n Tel./Fax : 56 (43) 631 009 631 073 Tucapel Coronel Mill Av. Costanera s/n, Schwager Tel. : 56 (41) 711 026 Fax : 56 (41) 711 275 Post Box 136 Coronel CMPC CELULOSA S.A.
Bucalemu Mill Panamericana Sur Km. 471 (1,5 Km Camino Laja) Tel. : 56 (43) 405 530 431 156 Fax : 56 (43) 431 156 Cabrero
General Management Agustinas 1343, P. 3 Tel. : 56 (2) 441 2030 Fax : 56 (2) 698 2179 Post Box 297, Correo Central correo@celulosa.cmpc.cl sales@celulosa.cmpc.cl Santiago
Nacimiento Mill Recinto Industrial s/n Tel. : 56 (43) 405 550 Tel./Fax : 56 (43) 511 460 Fax : 56 (43) 511 374 Post Box 1799 Nacimiento
Pacífico Mill Av. Jorge Alessandri 001 Mininco, Comuna Collipulli Tel. : 56 (45) 293 300 Fax : 56 (45) 293 305 Post Box 11 - D Angol
INMOBILIARIA PINARES S.A. Avda. Alemania 751 Tel. : 56 (43) 405 500 Fax : 56 (43) 312 750 Post Box 30 - D Los Ángeles INMOBILIARIA Y FORESTAL MAITENES S.A. Los Canelos 79 San Pedro de la Paz Tel. : 56 (41) 503 300 Fax : 56 (41) 373 431 Post Box 43-C forestalmininco@formin.cmpc.cl Concepción SERVICIOS FORESTALES ESCUADRÓN LTDA. Avda. Alemania 751 Tel. : 56 (43) 405 370 Fax : 56 (43) 312 701 Post Box 24 - D Los Ángeles
Laja Mill Balmaceda 30 Tel. : 56 (43) 334 000 Fax : 56 (43) 334 015 Post Box 108 Laja Santa Fe Mill Av. Julio Hemmelmann 670 Tel. : 56 (43) 403 800 Fax : 56 (43) 403 830 Post Box 1797 Nacimiento CMPC PAPELES S.A. Agustinas 1343, P. 5 Tel. : 56 (2) 441 2000 Fax : 56 (2) 695 5290 Post Box 297, Correo Central Post Code 6500587 cmpc-papeles@gerencia.cmpc.cl Santiago
Valdivia Mill Av. José Manuel Balmaceda 8500 Tel. : 56 (63) 214 791 Fax : 56 (63) 216 976 Post Box 5 - D Valdivia Maule Mill Ruta L-25, 28500 Yerbas Buenas Tel. : 56 (71) 237 631 56 ( 2) 440 3000 Fax : 56 (71) 237 633 56 ( 2) 440 3004 Post Box 119 - Talca Linares Puente Alto Dispatch Warehouse Eyzaguirre 01098 Tel. : 56 (2) 367 5400 Fax : 56 (2) 850 1118 Post Box 23 Puente Alto, Santiago Talcahuano Dispatch Warehouse Juan Antonio Ríos 185 interior Tel. : 56 (41) 544 524 542 241 Talcahuano San Antonio Dispatch Warehouse Hijuela 1-B Ruta 78 Cruce Cartagena Tel. : 56 (35) 201 541 201 542 San Antonio Aníbal Pinto 261 Tel. : 56 (35) 201 000 Fax : 56 (35) 285 096 Post Box 178 San Antonio Valparaíso Dispatch Warehouse Tupungato 2821, Parque Industrial Curauma Tel. : 56 (32) 294 184 Fax : 56 (32) 294 185 Valparaíso Maipú Dispatch Warehouse Camino a Melipilla 9070 Tel. : 56 (2) 538 8348 Fax : 56 (2) 538 9211 Maipú
INDUSTRIAS FORESTALES S.A. INFORSA General Management Agustinas 1357, P. 9 Tel. : 56 (2) 441 2050 Fax : 56 (2) 441 2890 Post Box 9201, Correo Central gerenciacomercial@inforsa.cmpc.cl Santiago Mill Av. Julio Hemmelmann 330 Tel. : 56 (43) 631 300 Fax : 56 (43) 511 444 Post Box 1791 Nacimiento FORESTAL CRECEX S.A. Agustinas 1357, P. 9 Tel. : 56 (2) 441 2050 Fax : 56 (2) 441 2890 Santiago Los Canelos 79 San Pedro de la Paz Tel. : 56 (41) 503 300 Fax : 56 (41) 373 431 Concepción EMPRESA DISTRIBUIDORA DE PAPELES Y CARTONES S.A. EDIPAC José Ananías 207 Tel. : 56 (2) 375 2400 Fax : 56 (2) 375 2490 ventas@edipac.cmpc.cl Macul, Santiago Copiapó 1039 Tel./Fax : 56 (2) 222 1544 Santiago Limache 4627 Tel. : 56 (32) 676 025 Fax : 56 (32) 676 167 Viña del Mar Paicaví 3025 Tel./Fax : 56 (41) 480 490 Concepción Avda. Rudecindo Ortega 02305 Tel. : 56 (45) 220 473 Fax : 56 (45) 221 267 Temuco SOCIEDAD RECUPERADORA DE PAPEL S.A. SOREPA General Management Venecia 3200 Tel. : 56 (2) 473 7000 Fax : 56 (2) 473 7042 Post Box 1828 dcomercial@sorepa.cmpc.cl San Joaquín, Santiago
PAPELES CORDILLERA S.A. Eyzaguirre 01098 Tel. : 56 (2) 367 5700 Fax : 56 (2) 850 1118 Post Box 23 Puente Alto, Santiago
Pudahuel Mill Camino Renca Lampa, Parcela 3 Parcelación El Bosque Tel. : 56 (2) 443 6952 Fax : 56 (2) 443 6950 Pudahuel, Santiago
1
1
7
CMPC TISSUE S.A.
ENVASES ROBLE ALTO S.A.
General Management Agustinas 1343, P. 6 Tel. : 56 (2) 441 2000 Fax : 56 (2) 441 2568 www.cmpctissue.cl Santiago
Management & Sales Lo Echevers 221 Tel. : 56 (2) 444 2400 Fax : 56 (2) 444 2445 contacto@roblealto.cmpc.cl Quilicura, Santiago
Tissue Chile Management Puente Alto Mill Eyzaguirre 01098 Tel. : 56 (2) 366 6400 Fax : 56 (2) 366 6469 Puente Alto, Santiago
Quilicura Mill Ojos del Salado 0711 Tel. : 56 (2) 444 2400 Fax : 56 (2) 444 2453 Quilicura, Santiago
OVERSEAS SUBSIDIARIES CMPC INVESTMENTS LTD. P.O. Box 472, St. Peters House Le Bordage, St. Peter Port Guernsey GY1 6AX, Channel Islands CMPC EUROPE LIMITED
Til Til Mill Camino Cerro Blanco de Polpaico 100 Tel. : 56 (2) 445 8611 Fax : 56 (2) 846 6120 Til Til
Representative Claudio Ojeda Strauch 5 Dukes Gate Acton Lane Chiswick London W4 5DX Tel. : 44 (20) 8996 9960 Fax : 44 (20) 8996 9967 Londres, Inglaterra
INVERSIONES PROTISA S.A.
ABASTECIMIENTOS CMPC S.A.
CMPC ASIA LIMITED
Agustinas 1343 Tel. : 56 (2) 441 2000 Fax : 56 (2) 623 8539 Santiago
Agustinas 1343 - Entrepiso Tel. : 56 (2) 441 2000 Fax : 56 (2) 672 6403 absa@gerencia.cmpc.cl Santiago
Representative Patricio Arenas López Toto Building 6th Fl. 5 - 1 - 4 Toranamon Minato - ku, Tokyo Tel. : 81 (3) 5733 2570 Fax : 81 (3) 3432 3005 Japan
Talagante Mill Camino a Isla de Maipo 0297 Tel. : 56 (2) 462 4400 Fax : 56 (2) 462 4511 Talagante
CMPC PRODUCTOS DE PAPEL S.A. Agustinas 1343, P. 6 Tel. : 56 (2) 441 2000 Fax : 56 (2) 672 3252 Post Box 297 Santiago CHILENA DE MOLDEADOS S.A. CHIMOLSA José Luis Coo 01162 Tel. : 56 (2) 360 0401 Fax : 56 (2) 850 3110 Post Code 7710568 Post Box 208, Puente Alto chimolsa@chimolsa.cmpc.cl Santiago PROPA S.A. Management & Sales Huérfanos 1376, P. 9 Tel. : 56 (2) 441 2161 Fax : 56 (2) 698 1990 Post Box 2413, Correo Central propa@propa.cmpc.cl Santiago Mill Longitudinal Norte Km.3 s/n Tel. : 56 (42) 272 405 Fax : 56 (42) 271 958 Chillán PRODUCTOS AUSTRAL S.A. Avda. Zañartu 1049 Tel. : 56 (2) 375 2222 Fax : 56 (2) 375 2100 Post Box 3113, Correo Central austral@austral.cmpc.cl Ñuñoa, Santiago ENVASES IMPRESOS S.A. Management & Mill Camino Alto Jahuel 0360 Tel. : 56 (2) 471 1300 Fax : 56 (2) 821 5988 Buin, Santiago
1
1
8
PORTUARIA CMPC S.A. Alcalde René Mendoza 190 Lirquén Tel. : 56 (41) 922 200 Fax : 56 (41) 922 202 Post Box 64 musvi@portuaria.cmpc.cl Penco
CMPC INVERSIONES DE ARGENTINA S.A. Suipacha 1111, P.18 Tel. : 54 (11) 4630 0100 Fax : 54 (11) 4630 0111 Post Code C1008AAW Buenos Aires, Argentina
RELATED COMPANIES LA PAPELERA DEL PLATA S.A. BICECORP S.A. Teatinos 220, P. 5 Tel. : 56 (2) 692 2000 Fax : 56 (2) 698 0803 Santiago SOCIEDAD HIDROELÉCTRICA MELOCOTÓN LTDA. Teatinos 220, P. 5 Tel. : 56 (2) 692 2004 Telex 340090 BICE CZ Santiago INVERSIONES EL RAULÍ S.A. Teatinos 280, P. 3 Tel. : 56 (2) 675 0110 Tel./Fax : 56 (2) 675 0105 pvrinverrauli@entelchile.net Santiago CONTROLADORA DE PLAGAS FORESTALES S.A. Camino Público Los Ángeles Laja s/n - Sector Curamávida Tel. : 56 (43) 320 017 Fax : 56 (43) 320 018 Post Box 1194 cpf@cpf.cl Los Ángeles
General Management Av. Intendente Francisco Rabanal 3120 Tel. : 54 (11) 4630 0100 Fax : 54 (11) 4630 0111 lpp-comercial@cmpc.com.ar Buenos Aires, Argentina Zárate Mill Camino de la Costa Brava Km. 7 Tel. : 54 (03) 487 428300 Fax : 54 (03) 487 427116 Zárate, Buenos Aires Argentina Corepa Mill Paysandú 601 Tel. : 54 (11) 4207 7985 Fax : 54 (11) 4207 8220 Wilde, Buenos Aires Argentina Córdoba Mill Lizardo Novillo Saravia 400 Barrio Ipona Tel./Fax : 54 (03) 514 610108 514 610112 Córdoba, Provincia de Córdoba Argentina Naschel Mill 9 de Julio s/n e Islas Malvinas Tel./Fax : 54 (26) 5649 1019 Naschel, San Luis Argentina
FORESTAL BOSQUES DEL PLATA S.A.
GESTUM INVERSIONES, S.L.
Suipacha 1111, P. 18 Tel. : 54 (11) 4630 0100 4918 1535 Fax : 54 (11) 4630 0111 4630 0110 Post Code C1008AAW bdelplata@cmpc.com.ar Buenos Aires, Argentina
Velázquez 17 28001 Madrid Tel. : 34 (91) 426 0700 Fax : 34 (91) 426 0701 Spain
Calle 186, Parcela 3 Barrio San Isidro Tel./Fax : 54 (37) 5245 1911 int. 102 - 129 Post Box 34 Post Code 3300 Posadas, Misiones Argentina
Rua Albuquerque Lins 635 8° Andar c.j. 81 y 84 Tel./Fax : 55 (11) 3661 0000 Post Code 06787 - 480 Barrio Santa Cecilia Sao Paulo, Brazil
PROTISA DO BRASIL LTDA.
IPUSA S.A. FABI BOLSAS INDUSTRIALES S.A. Management & Sales Virasoro 2656, Edificio Uruguay III Tel./Fax : 54 (11) 4737 1001 Post Code 1643, Beccar Provincia de Buenos Aires fabi@cmpc.com.ar Buenos Aires, Argentina Hinojo Mill Calle 5 s/n - (7310) Hinojo - Olavarría Tel./Fax : 54 (22) 8449 1036 8449 1150 Buenos Aires, Argentina
Av. España s/n Ciudad de Pando - Canelones Tel. : 59 (82) 292 2240 Fax : 59 (82) 292 1358 Post Code 91000 ipusa@ipusa.com.uy Uruguay COMPAÑIA PRIMUS DEL URUGUAY S.A. Av. España s/n Ciudad de Pando - Canelones Tel. : 59 (82) 292 2240 Fax : 59 (82) 292 1358 Post Code 91000 Uruguay
NASCHEL S.A. General Management Av. Intendente Francisco Rabanal 3120 Tel. : 54 (11) 4630 0180 Fax : 54 (11) 4630 0170 Buenos Aires, Argentina Naschel Mill Pringles entre Belgrano y 25 de Mayo Tel. : 54 (26) 5649 1004 Fax : 54 (26) 5649 1046 Naschel, San Luis Argentina PAPELERA DEL RIMAC S.A. Av. Santa Rosa 550, Santa Anita Tel. : 51 (1) 362 5070 Fax : 51 (1) 362 4509 postmast@protisa.com.pe Lima, Peru PRODUCTOS TISSUE DEL PERU S.A. Av. Santa Rosa 550, Santa Anita Tel. : 51 (1) 362 5070 Fax : 51 (1) 362 4509 postmast@protisa.com.pe Lima, Peru FORSAC PERU S.A. Av. Gerardo Unger 5339, Los Olivos Tel. : 51 (1) 485 0510 Fax : 51 (1) 485 0520 forsac@forsac.com.pe Lima, Peru
CELULOSAS DEL URUGUAY S.A. Av. España s/n Ciudad de Pando - Canelones Tel. : 59 (82) 292 2240 Fax : 59 (82) 292 1358 Post Code 91000 Uruguay CMPC USA, INC. 1050 Crown Pointe Parkway Suite 1590 Atlanta, GA 30338 Tel. : 1 (770) 551 2640 Fax : 1 (770) 551 2641 USA INVERSIONES CMPC CAYMAN LTD. P.O. Box 309, Ugland House South Church Street George Town Grand Cayman, Cayman Islands PROPA CAYMAN LTD. P.O. Box 309, Ugland House South Church Street George Town Grand Cayman, Cayman Islands TISSUE CAYMAN LTD. P.O. Box 309, Ugland House South Church Street George Town Grand Cayman, Cayman Islands
1
1
9