ࡱ > c e b q` b| bjbjqPqP 4 : : 3 % h h h h h h h | 8 , $ | V ^ v " ^ ` ` ` ` ` ` $ M h J - h h h h h ^ ^ h h P J B 0 d h x * r X | | | | | | | | | h h h h h h +!"# <8=8AB@0 ?> 45;0< <>;>4568, A?>@BC 8 BC@87<C 5A?C1;8:8 "0B0@AB0= . . 0@8520 ?> 8B>30< ?5@2>3> A5@>AA89A:>3> A?>@B82=>3> D>@C<0 >AA8O A?>@B82=0O 45@6020 #20605<K5 :>;;538, 3>AB8 =0H59 AB>;8FK! 0: 20< 8725AB=>, 2 A>>B25BAB288 A #:07>< @57845=B0 >AA88 <8B@8O =0B>;L528G0 54254520 A 2 2 ?> 2 5 >:BO1@O 2 0 0 9 3>40 2 3. 070=8 ?@>H5; ?5@2K9 A5@>AA89A:89 A?>@B82=K9 D>@C< >AA8O A?>@B82=0O 45@6020 . >4>1=K9 <0AHB01=K9 8 7=0G8<K9 A?>@B82=K9 $>@C< ?@>2>48;AO 2 =0H59 AB@0=5 2?5@2K5. 070=8 1K;0 >:070=0 1>;LH0O G5ABL ?@8=8<0BL C A51O ?@0:B8G5A:8 2AN ?>;8B8G5A:CN 8 A?>@B82=CN M;8BC >AA88, 0 B0:65 @C:>2>48B5;59 254CI8E <564C=0@>4=KE A?>@B82=KE D545@0F89. 653>4=K9 A5@>AA89A:89 <564C=0@>4=K9 A?>@B82=K9 D>@C< >AA8O A?>@B82=0O 45@6020 CG@5645= @57845=B>< >AA88 2 F5;OE A>740=8O 2 AB@0=5 >4=>9 87 :@C?=59H8E 2 <8@5 ?;>I04>: 4;O >1AC645=8O 7=0G5=8O D878G5A:>9 :C;LBC@K 8 A?>@B0 2 687=8 >1I5AB20, :0: 206=59H8E A>AB02;ONI8E A>F80;L=>3> 8 3C<0=8B0@=>3> @0728B8O A>2@5<5==>9 F828;870F88. !53>4=O 70=OB8O D878G5A:>9 :C;LBC@>9 8 A?>@B>< AB0=>2OBAO =5 B>;L:> 206=>9 G0ABLN =0F8>=0;L=>9 :C;LBC@K 8 4CE>2=>3> A>25@H5=AB2>20=8O 3@0640=, => 8 2K?>;=ONB F5==59H85 A>F80;L=K5 DC=:F88, 40NB 8<?C;LA : AB0=>2;5=8N F5;>9 8=4CAB@88 A?>@B0, 70=8<0NI59 2A5 1>;55 70<5B=>5 <5AB> 2 A>2@5<5==>< >1I5AB25. !B@>8B5;LAB2> :@C?=KE A?>@B82=KE :><?;5:A>2, =>259H85 B5E=>;>388 2 ?>43>B>2:5 A?>@BA<5=>2 8 8E M:8?8@>2:5, A?>@B82=0O <548F8=0, 040?B82=0O D878G5A:0O :C;LBC@0, A?>@B 4;O ;N459 A >3@0=8G5==K<8 2>7<>6=>ABO<8 MB> B5 206=59H85 =0?@02;5=8O, ?> :>B>@K< 2 =0AB>OI55 2@5<O AB@5<8B5;L=> @0728205BAO <8@ A?>@B0. !?>@B82=K9 $>@C< E0@0:B5@87C5B B>B A>7840B5;L=K9 @568<, :>B>@K9 ?5@568205B >AA8O, >B@0605B AB@5<;5=85 AB@0=K 2 8==>20F8>==>< @0728B88 8A?>;L7>20BL 2A5 @5AC@AK, >4=8< 87 :>B>@KE O2;O5BAO A?>@B. >20O >AA8O MB> A8;L=K9 A?>@B, >1;040NI89 >3@><=K< A>7840B5;L=K< ?>B5=F80;>< 2> 2A5E AD5@0E 687=545OB5;L=>AB8, AB0=>2;5=88 3@0640=A:>3> >1I5AB20, C:@5?;5=88 <564C=0@>4=KE :>=B0:B>2. >43>B>2:0 8 >@30=870F8O $>@C<0 ?>:070;8 MDD5:B82=K9 D>@<0B @01>BK @538>=>2 A F5=B@><, <564C=0@>4=K< A?>@B82=K< A>>1I5AB2>< =0 >A=>25 2708<>?>=8<0=8O, @57C;LB0B82=>3>, :C;LBC@=>3>, 8=B5;;5:BC0;L=>3>, 8=D>@<0F8>==>3> ?0@B=5@AB20. A53> 2 @01>B5 $>@C<0 ?@8=O;> CG0AB85 3 6 8 0 G5;, 87 =8E 1 3 0 0 - CG0AB=8:8 $>@C<0, 2 B. G. 2 3 3C15@=0B>@0, 7 7 @C:>2>48B5;59 >@30=>2 8A?>;=8B5;L=>9 2;0AB8 AC1J5:B>2 >AA88 2 AD5@5 D878G5A:>9 :C;LBC@K 8 A?>@B0, 6 9 @C:>2>48B5;59 @>AA89A:8E A?>@B82=KE D545@0F89, 2 6 @C:>2>48B5;59 <564C=0@>4=KE A?>@B82=KE D545@0F89, 2 2 0 @C:>2>48B5;59 45BA:>- N=>H5A:8E A?>@B82=KE H:>;, 3 6 6 ?@54AB028B5;59 A@54AB2 <0AA>2>9 8=D>@<0F88. &5;8 8 7040G8 $>@C<0 1K;8 4>AB83=CBK 8 @50;87>20=K. @30=87>20=K 5 A5@>AA89A:8E =0CG=>- ?@0:B8G5A:8E :>=D5@5=F89, 8 :@C3;KE AB>;>2, 1 A5<8=0@- A>25I0=85. &5@5<>=8O B>@65AB25==>3> >B:@KB8O $>@C<0 A>AB>O;0AL A CG0AB85< @57845=B0 >AA89A:>9 $545@0F88 . . 54254520 345 ?@8=O;> CG0AB85 1>;55 1 3 0 0 G5;>25:. #G0AB=8:>2 $>@C<0 ?@825BAB2>20;8 B0:65 @C:>2>48B5;8 254CI8E <564C=0@>4=KE A?>@B82=KE D545@0F89. 0 8B>3>2>< ?;5=0@=>< 70A540=88 $>@C<0, 345 ?@8=O;> CG0AB85 >:>;> 8 0 0 G5;. , 70<5AB8B5;L ?@54A540B5;O @028B5;LAB20 >AA89A:>9 $545@0F88 . . C:>2 >B<5B8; 2KA>:89 C@>25=L >@30=870F88 <5@>?@8OB8O. K;8 B0:65 70A;CH0=K 2KABC?;5=8O <8=8AB@0 A?>@B0, BC@87<0 8 <>;>456=>9 ?>;8B8:8 >AA88 . . CB:>, 0 B0:65 ?@5<L5@- <8=8AB@0 5A?C1;8:8 "0B0@AB0= . . 8==8E0=>20. ! CG5B>< ?@54;>65=89 :@C3;KE AB>;>2 8 :>=D5@5=F89 1K;0 ?@8=OB0 8B>3>20O @57>;NF8O $>@C<0. !>AB>O2H55AO 2 070=A:>9 0BCH5 E>45 A?>@B82=>3> $>@C<0 70A540=85 >AC40@AB25==>3> !>25B0 ?@8 @57845=B5 >AA89A:>9 $545@0F88 ?> @0728B8N D878G5A:>9 :C;LBC@K 8 A?>@B0, :>B>@>5 1K;> ?>A2OI5=> @0728B8O 45BA:>- N=>H5A:>3> A?>@B0 2 AB@0=5, ?>:070;> A0<K9 2KA>:89 C@>25=L >1AC645=8O MB>3> 2>?@>A0. ;02>9 3>AC40@AB20 . . 5425452K< 1K;8 A45;0=K 0:F5=BK 8 ?>@CG5=8O > =5>1E>48<>AB8 2 E>45 <>45@=870F88 >1@07>20=8O C25;8G5=8O 70=OB89 D878G5A:>9 :C;LBC@K 8 A?>@B>< H:>;L=8:>2, >1 >1O70B5;L=>< C:@5?;5=88 <0B5@80;L=>- B5E=8G5A:>9 107K 2C7>2 4;O @0728B8O ABC45=G5A:>3> A?>@B0. -B8 8 4@C385 <5@K, <K =0455<AO, 1C4CB A?>A>1AB2>20BL @0728B8N MB>3> A0<>3> A;>6=>3> 8 ?@8>@8B5B=>3> =0?@02;5=8O >B@0A;8. A53> 2 @01>B5 70A540=8O !>25B0 ?@8=O;> CG0AB85 7 8 G5;>25:, 2 B. G. 5 1 G;5=>2 !>25B0. @0<:0E $>@C<0 ?@>2545=K 5 :@C?=KE @>AA89A:8E 8 <564C=0@>4=KE A?>@B82=KE A>@52=>20=89 A CG0AB85< 1>;55 1 6 0 0 A?>@BA<5=>2. !@548 =8E: - C1>: >AA88 ?> EC4>65AB25==>9 38<=0AB8:5 8 >B:@KBK9 2A5@>AA89A:89 BC@=8@ A@548 452CH5: >;4K7 . 0 F5@5<>=88 B>@65AB25==>3> >B:@KB8O A>@52=>20=89 ?@8=O;8 CG0AB85 45?CB0BK >AC40@AB25==>9 C<K >AA88, >;8<?89A:85 G5<?8>=K ;048A;02 "@5BLO:, ;8=0 010520 8 3;02=K9 B@5=5@ A1>@=>9 >AA88 ?> EC4>65AB25==>9 38<=0AB8:5, ?@57845=B $545@0F88 ?> EC4>65AB25==>9 38<=0AB8:5 @8=0 8=5@. :C1:5 >AA88 ?@8=O;8 CG0AB85 3 0 A8;L=59H8E A?>@BA<5=>2 AB@0=K. X N18;59=>< <564C=0@>4=>< BC@=8@5 >;4K7 ?@8=O;8 CG0AB85 38<=0AB:8 87 "C@F88, #:@08=K, 75@109460=0, #715:8AB0=0. - B:@KBK9 C1>: >AA88 ?> 1>@L15 =0 ?>OA0E A CG0AB85< A?>@BA<5=>2 87 AB@0= ! 8 0;B88 ?@>H5; 2 =>2>< 2>@F5 548=>1>@AB2. >G5B=K< 3>AB5< A>@52=>20=89 AB0; @57845=B <564C=0@>4=>9 D545@0F88 A?>@B82=>9 1>@L1K =0 ?>OA0E 8D 09=0=>2. A>@52=>20=8OE ?@8=O;8 CG0AB85 A1>@=K5 :><0=4 87 >A:2K, !0=:B- 5B5@1C@30, 5A?C1;8:8 "0B0@AB0=, 0H:>@B>AB0=, 010@48=>- 0;:0@88 8 0@0G052>- '5@:5AA88. - A5@>AA89A:85 A>@52=>20=8O ?> 10A:5B1>;C A@548 A?>@BA<5=>2 8=20;84>2- :>;OA>G=8:>2. A>@52=>20=8OE ?@8=O;8 CG0AB85 1 1 2 G5;. 87 33. >A:20, !0=:B- 5B5@1C@3, "N<5=L, 070=L, '5;O18=A:, 0 B0:65 87 AB@0= 8B20, #:@08=0 8 5;0@CAL. - OBK9 BC@ G5<?8>=0B0 >AA88 ?> @5318- 7 A@548 <C6A:8E :><0=4 B>@65AB25==>< 70:@KB88 A>@52=>20=89 ?@8=O;8 CG0AB85 8A?>;=8B5;L=K9 48@5:B>@ 564C=0@>4=>3> A>N70 @5318AB>2 09: 8;;5@, 28F5- ?@57845=B !>N70 @5318AB>2 >AA88, 8A?>;=ONI89 >1O70==>AB8 @C:>2>48B5;O 5?0@B0<5=B0 @0728B8O A?>@B0 2KAH8E 4>AB865=89 ;048<8@ 02;>2. - A5@>AA89A:85 N=>H5A:85 A>@52=>20=8O ?> ;53:>9 0B;5B8:5. A53> 2 A>@52=>20=8OE ?@8=O;> CG0AB85 1>;55 4 0 0 N=KE A?>@BA<5=>2 A> 2A59 >AA88. 0 A>@52=>20=8OE B0:65 ?@8ACBAB2>20;8 ?@57845=B <564C=0@>4=>9 ;N18B5;LA:>9 ;53:>0B;5B8G5A:>9 D545@0F88 0<8= 80:, ?@57845=B 2A5@>AA89A:>9 D545@0F88 ;53:>9 0B;5B8:8 0;5=B8= 0;0E=8G52, 28F5- ?@57845=B <564C=0@>4=>9 ;N18B5;LA:>9 ;53:>0B;5B8G5A:>9 D545@0F88, >;8<?89A:89 G5<?8>=, G5<?8>= <8@0 !5@359 C1:0. /@:>9 AB@0=8F59 $>@C<0 O28;>AL ?@54AB02;5=85 @8=K 8=5@ - A?>@B82=>- 38<=0AB8G5A:>5 H>C. @0<:0E D>@C<0 ?@>H5; <564C=0@>4=K9 D5AB820;L 4>:C<5=B0;L=>3> A?>@B82=>3> :8=>. V X d L J X L N \ B h t 8 r t " & 6 8 H ^ ⿷wo hp CJ aJ hW3v h N CJ aJ hke h N 5CJ aJ hF h N 5CJ aJ hHE h N 5CJ aJ h N CJ aJ h%Q 5CJ aJ h%Q CJ aJ h: h%Q CJ aJ h|\ CJ aJ h%N CJ aJ h'8g CJ aJ hHA CJ aJ hHA 5CJ aJ hHA hHA 5CJ aJ + X Z N $ l# ( |) * $dh `a$gd5 $dh `a$gdp $dh ]`a$gd N $dh a$gd%Q $dh `a$gd%Q $`a$gdHA $`a$gdHA | `| ~ ! ! " $" " " " h# j# l# ( z) |) ) ) (* l* * * . . . p. . . J/ 20 0 0 1 2 b2 yjy h hHA CJ OJ QJ aJ h hHA CJ aJ h hHA 5CJ aJ h[ hHA CJ aJ hZ hHA CJ aJ hHA CJ aJ mH sH hmI hHA 5CJ aJ h* CJ aJ h5 hHA CJ aJ h5 B*CJ aJ ph hUY hHA CJ aJ hp CJ aJ hHA CJ aJ h%Q CJ aJ (* - . . / 0 2 2 3 L4 X6 9 9 : : 2; fL BQ >T U $dh `a$gd* $dh d d [$\$`a$gd* $dh `a$gd* $dh d d [$\$`a$gd* $dh `a$gd5 b2 z2 2 2 2 2 2 3 \3 r3 3 3 J4 L4 T6 \6 6 9 9 : : : ,; 2; H fL M M M DO FO P 8P