Recherche PDF

>ĞsĞŶĚƌĞĚŝϴ:ƵŝůůĞƚϮϬϭϭ͕ZĂŶĚŽŶŶĠĞ^ĞŵŝͲEŽĐƚƵƌŶĞă^ĂŵĞƌ͘ ĠƉĂƌƚƚŽƵƚĞƐůĞƐϮϬŵŝŶƵƚĞƐăƉĂƌƚŝƌĚĞϭϴŚϯϬ͕WůĂĐĞĚĞů͛ďďĂLJĞă^ĂŵĞƌ͘ ŶŝŵĂƚŝŽŶƐƐƵƌůĞƉĂƌĐŽƵƌƐ͗ŽŶĐĞƌƚZŽĐŬ͕ĐŽŶƚĞƵƌ͕ƌĞĐŽŶƐƚŝƚƵƚŝŽŶŚŝƐƚŽƌŝƋƵĞ͕ ĞdžƉŽƐŝƚŝŽŶƐĚĞƉĞŝŶƚƵƌĞƐ͕ƌĞƉĂƐĐŚĂŵƉġƚƌĞĂǀĞĐĚĠŵŽŶƐƚƌĂƚŝŽŶĚĞĐŽƵŶƚƌLJĚĂŶƐůĞƐ ũĂƌĚŝŶƐĚĞů͛ďďĂLJĞ͘ ^ŽƌƚŝĞĚĞϲŬŵŽƌŐĂŶŝƐĠĞƉĂƌů͛KĨĨŝĐĞĚĞdŽƵƌŝƐŵĞĚĞĞƐǀƌĞƐͲ^ĂŵĞƌĞŶƉĂƌƚĞŶĂƌŝĂƚ ĂǀĞĐůĞƐĐůƵďƐĚĞƌĂŶĚŽŶŶĠĞĚĞtŝƌǁŝŐŶĞƐ͕ŽůĞŵďĞƌƚ͕^ĂŵĞƌĞƚĞƐǀƌĞƐ͘  ZĂŶĚŽŶŶĠĞ͗ϯΦͲZĂŶĚŽŶŶĠĞнƌĞƉĂƐ;ƉůĂƚĞƚĚĞƐƐĞƌƚͿ͗ϭϬΦ ZĂŶĚŽŶŶĠĞŐƌĂƚƵŝƚĞƉŽƵƌůĞƐĞŶĨĂŶƚƐĚĞŵŽŝŶƐĚĞϲĂŶƐĂĐĐŽŵƉĂŐŶĠƐĚ͛ƵŶĂĚƵůƚĞ͘ ZĞŶƐĞŝŐŶĞŵĞŶƚĞƚŝŶƐĐƌŝƉƚŝŽŶŽďůŝŐĂƚŽŝƌĞăů͛KĨĨŝĐĞĚĞdŽƵƌŝƐŵĞ͗Ϭϯ͘Ϯϭ͘ϵϮ͘Ϭϵ͘Ϭϵ 0DQLIHVWDWLRQVVXUOHWHUULWRLUH 0DQLIHVWDWLRQVVXUOHWHUULWRLUH  -XLOOHW  /H'LPDQFKH-XLOOHW 1RPEUHXVHVDQLPDWLRQVEURFDQWH« ,QIRV%(//(X1(  $SDUWLUGHK5DVVHPEOHPHQWGHYRLWXUHV GHYpKLFXOHV/RQGRQ6DPHU%DUFHORQD 3ODFH)RFK6$0(5  /H0HUFUHGL-XLOOHW 5HSDVGDQVDQWGHODIrWHQDWLRQDOH ,QIRV9(5/,1&7 81  /H-HXGL-XLOOHW )rWHGXYLOODJHDYHFPpFKRXLWRXUQRLGH IRRWEDOO«'28'($89,//( ,QIRV  -RXUQpHGHVSHLQWUHVGDQVOHVUXHVDYHF H[SRVLWLRQFRQFRXUV« KEDOGDQVOHV-DUGLQVO·$EED\HKIHX G·DUWLILFHDX[/DYDQGLqUHV6$0(5 ,QIRV0DLULH  5DQGRQQpHDYHFOH3(36j&2/(0%(57 /LHX'pSDUWjKDXSDUNLQJGHODPDLULH ,QIRV0U'HVSUH]  /H'LPDQFKH-XLOOHW .HUPHVVHGXYLOODJH1RPEUHXVHVDQLPDWLRQV ,QIRV48(648(6  /H6DPHGL-XLOOHW 5DVVHPEOHPHQWDXWRPRELOHGHYRLWXUHV DQFLHQQHVDX9LOODJHGHV0pWLHUVG·$UWGH /21*)266(GHKjK ,QIRV  6DPHGLHW'LPDQFKH-XLOOHW &RQFRXUVVSpFLDOGHFKHYDX[ERXORQQDLV /LHX$YHQXH HQU\0RU\6$0(5 ,QIRV   9HQGUHGLDX'LPDQFKH-XLOOHW 1XLWVGHOD&DUSH'(695(6 /LHX(WDQJ0XQLFLSDO ,QIRV   -8,//(7$287  ©$X3ODLVLUGHV<HX[ª 9LVLWHJXLGpHGHODIDwHQFHULHOHV0DUGLV 0HUFUHGLVHW-HXGLVjKSUpFLVHVXU5'9 ,QIRV  $R€W  /HVHW$R€W :LUZLJQHV,OOXPLQDWLRQV$QLPDWLRQVHW 5HSDVOH$R€W 0HQQHYLOOH6SHFWDFOHUHSDVLOOXPLQDWLRQV ©/HV)RXVGX*XLGRQª /·(VFDUJRWLqUHGX&KRTXHO6DLQW0DUWLQ &KRTXHO$QLPDWLRQ&RQFHUW9LVLWHGH O·H[SORLWDWLRQ $OLQFWKXQ/D)HUPHGX%RLVGX&RT 5HSDVOHGqVK$QLPDWLRQ ([SRVLWLRQWRXWHODVRLUpH  /H/XQGL$R€W %URFDQWHQRFWXUQH/21*)266( /LHX3DUNLQJ6LPSO\0DUNHW ,QIRV0DLULHDX  /HVHW$R€W 5DOO\HGX%RXORQQDLV ,QIRV0DLULH  /H'LPDQFKH$R€W .HUPHVVH$/,1&7 81 ,QIRV0DLULH  /H'LPDQFKH$R€W )RUHVWRSDOH&2/(0%(57 ,QIRV0DLULH   Ϭ 3URJUDPPHGHVUDQGRQQpHVGHO·2IILFHGH7RXULVPHGH'HVYUHV 6DPHUSRXU-XLOOHWHW$R€W 3URJUDPPHGHVUDQGRQQpHVGHO·2IILFHGH7RXULVPHGH'HVYUHV UDQGRQQpHVGHO·2IILFHGH7RXULVPHGH'HVYUHV 6DPHUSRXU-XLOOHWHW$R€W  ͲDĂƌĚŝϱ:ƵŝůůĞƚ͕ŝƌĐƵŝƚĚĞůĂĨŽƌġƚ͕ĚĠƉĂƌƚϵŚWůĂĐĞĚĞtŝƌǁŝŐŶĞƐ;ZĞƉĂƐăͲDĂƌĚŝϮŽƸƚ͕ŝƌĐƵŝƚĚƵWŽŶƚWŝĞƌƌĞƵdž͕ĚĠƉĂƌƚϵŚƐƚĂĚĞĚĞĨŽŽƚďĂůůĚĞ >ĂĂƉĞůůĞ;ZĞƉĂƐĐŚĞnjDĠŵğƌĞ,ĂƌůĠͿ ůĂ&ĞƌŵĞƵďĞƌŐĞĚƵůĂŝƐĞůͿ Ͳ:ĞƵĚŝϳ:ƵŝůůĞƚ͕DĂƌĐŚĞEŽƌĚŝƋƵĞ͕ĚĠƉĂƌƚWůĂĐĞĚƵǀŝůůĂŐĞă>ĞtĂƐƚăϭϰŚͲDĂƌĚŝϵŽƸƚ͕ŝƌĐƵŝƚĚĞdŝŶŐƌLJ͕ĚĠƉĂƌƚϵŚĚĞůĂDĂŝƌŝĞĚĞ^ĂŵĞƌ;ZĞƉĂƐ ͲDĂƌĚŝϭϮ:ƵŝůůĞƚ͕>ĞĂƐůĂŝƐĞů͕ĚĠƉĂƌƚϭϰŚăůĂŵĂŝƌŝĞĚĞ^ĂŵĞƌ ăůĂdĂǀĞƌŶĞĚĞƐƌĂƐƐĞƵƌƐͿ ͲDĂƌĚŝϭϵ:ƵŝůůĞƚ͕^Ƶƌ>ĞƐŽůůŝŶĞƐĚĞsŝĞŝůDŽƵƚŝĞƌ͕ĚĠƉĂƌƚϵŚWůĂĐĞĚĞ ͲDĂƌĚŝϭϲŽƸƚ͕>Ă&Žƌġƚ͕ĚĠƉĂƌƚϭϰŚĚĞů͛KĨĨŝĐĞĚĞdŽƵƌŝƐŵĞĚĞĞƐǀƌĞƐ sŝĞŝůDŽƵƚŝĞƌ;ZĞƉĂƐĂƵZĞůĂŝƐĚĞƐZĂŶĚŽŶŶĞƵƌƐͿ ͲDĞƌĐƌĞĚŝϮϰŽƸƚ͕ŝƌĐƵŝƚăůĂĚĠĐŽƵǀĞƌƚĞĚƵŽĐĂŐĞŽƵůŽŶŶĂŝƐ͕ĚĠƉĂƌƚ Ͳ:ĞƵĚŝϮϭ:ƵŝůůĞƚ͕DĂƌĐŚĞEŽƌĚŝƋƵĞ͕ĚĠƉĂƌƚϭϰŚăů͛ŐůŝƐĞĚĞ>ŽŶŐĨŽƐƐĠ ϵŚĚƵŚĞǀĂůůĂŶĐăƌƵŶĞŵďĞƌƚ;ZĞƉĂƐĂƵŚĞǀĂůůĂŶĐͿ ͲDĂƌĚŝϮϲ:ƵŝůůĞƚ͕ŝƌĐƵŝƚĚĞƐŽƚĞĂƵdžĞƚsĂůůĠĞƐĚƵDŽŶƚ^ĂǀĂƌLJ͕ĚĠƉĂƌƚ Ͳ:ĞƵĚŝϮϱŽƸƚ͕DĂƌĐŚĞEŽƌĚŝƋƵĞ͕ĚĠƉĂƌƚϭϰŚĚĞů͛ŐůŝƐĞĚĞŽůĞŵďĞƌƚ ϵŚWůĂĐĞĚĞŽůĞŵďĞƌƚ;ZĞƉĂƐĂƵZĞƐƚĂƵƌĂŶƚͨ>ĞƐdŽƵƌĞůůĞƐͩͿ ͲDĂƌĚŝϯϬŽƸƚ͕>ĂYƵĞǀĂůĞƌŝĞͲ>ĂsŝĞŶŶĞ͕ĚĠƉĂƌƚϭϰŚăůĂDĂŝƌŝĞ^ĂŵĞƌ Ͳ:ĞƵĚŝϮϴ:ƵŝůůĞƚ͕DĂƌĐŚĞEŽƌĚŝƋƵĞ͕ĚĠƉĂƌƚϭϰŚăůĂŵĂŝƌŝĞĚĞ^ĂŵĞƌ    WƌŝdžĚĞůĂƌĂŶĚŽŶŶĠĞƐĂŶƐůĞƌĞƉĂƐϯΦͲZĂŶĚŽŶŶĠĞăůĂũŽƵƌŶĠĞнƌĞƉĂƐ  EŽƵǀĞĂƵƚĠϮϬϭϭ͗DĂƌĐŚĞEŽƌĚŝƋƵĞ͕ƐƉŽƌƚĚĞƉůĞŝŶĂŝƌĞdžƚƌġŵĞŵĞŶƚ ;ƉůĂƚ͕ĚĞƐƐĞƌƚ͕ďŽŝƐƐŽŶͿϭϱΦ͘/ŶƐĐƌŝƉƚŝŽŶƐăů͛KĨĨŝĐĞĚĞdŽƵƌŝƐŵĞĚĞ  ƉŽƉƵůĂŝƌĞĚĂŶƐůĞƐƉĂLJƐƐĐĂŶĚŝŶĂǀĞƐ͕ĐŽŶƐŝƐƚĞĞŶƵŶĞŵĂƌĐŚĞĂĐĐĠůĠƌĠĞ ĞƐǀƌĞƐͲ^ĂŵĞƌϬϯ͘Ϯϭ͘ϵϮ͘Ϭϵ͘ϬϵŽƵŽƚΛĐĐͲƌĞŐŝŽŶĚĞƐǀƌĞƐ͘Ĩƌ͘dŽƵƚĞƐůĞƐ  ĂǀĞĐĚĞƐďąƚŽŶƐĚĞŵĂƌĐŚĞƐƐƉĠĐŝĨŝƋƵĞƐ͘ ƐŽƌƚŝĞƐƐŽŶƚŽƌŐĂŶŝƐĠĞƐĞŶƉĂƌƚĞŶĂƌŝĂƚĂǀĞĐůĞƐĐůƵďƐĚĞƌĂŶĚŽŶŶĠĞƐĚĞ   ŽůĞŵďĞƌƚ͕ĞƐǀƌĞƐ͕^ĂŵĞƌĞƚtŝƌǁŝŐŶĞƐ͘ $QLPDWLRQV(WpDX9LOODJHGHV 0pWLHUVG·$UWGH'HVYUHV   )HVWLYLWpVGHOD9LOOHGH'HVYUHV dŽƵƚů͛ĠƚĠ͕ƉŽƵƌƉĞƚŝƚƐĞƚŐƌĂŶĚƐ͕ůĞsŝůůĂŐĞĚĞƐDĠƚŝĞƌƐĚ͛ƌƚ ğŵĞ ǀŽƵƐƉƌŽƉŽƐĞĚŝĨĨĠƌĞŶƚĞƐĂĐƚŝǀŝƚĠƐĂƵƚŽƵƌĚĞͬĚƵ͗ ϯ ƌĞƉƌĠƐĞŶƚĂƚŝŽŶŚŝƐƚŽƌŝƋƵĞ͕ͨϭϰϳϬ͕>Ă:ŽLJĞƵƐĞŶƚƌĠĞĚĞŚĂƌůĞƐůĞ dĠŵĠƌĂŝƌĞ͕ͩůĞƐϭϯĞƚϭϰ:ƵŝůůĞƚĚĠƉĂƌƚϮϬŚĚĞůĂWůĂĐĞĚĞůĂDĂŝƌŝĞĚĞ Ͳ>͛ĂƌŐŝůĞƉŽůLJŵğƌĞĂǀĞĐĂƚĞůŝĞƌďŝũŽƵdžĞƚĨŝŐƵƌŝŶĞ͘ ĞƐǀƌĞƐ͘^ƉĞĐƚĂĐůĞĚĞƌƵĞŐƌĂƚƵŝƚ͘ Ͳ>ĞďŽŝƐĂǀĞĐƌĠĂůŝƐĂƚŝŽŶĚĞƉĞƚŝƚƐŵŽďŝůĞƐĞŶďŽŝƐĨůŽƚƚĠ͕ĚĞ ZĞƉĂƐDĠĚŝĠǀĂůƉƌŽƉŽƐĠĚĂŶƐůĞƌĞƐƚĂƵƌĂŶƚƉĂƌƚŝĐŝƉĂŶƚůĞƐϭϯĞƚϭϰ͘ ďĂƚĞĂƵŽƵǀŽŝƚƵƌĞĞŶďŽŝƐăŵŽƚĞƵƌĠůĂƐƚŝƋƵĞ͕ĐƌĠĂƚŝŽŶĚ͛ƵŶũĞƵ DĂƌĐŚĠĂŶŝŵĠůĞϭϮ:ƵŝůůĞƚͨ>Ă>ĠŐĞŶĚĞĚ͛ůůŝŽŶĂͩ͘^ƉĞĐƚĂĐůĞ ĚĞŵŽƌƉŝŽŶƐ͕ƌĠĂůŝƐĂƚŝŽŶĚĞŶŝĐŚŽŝƌĚĠĐŽƌĠƉŽƵƌŵĠƐĂŶŐĞĞƚ ĚĠĂŵďƵůĂƚŽŝƌĞ͘ ƌĠĂůŝƐĂƚŝŽŶĚĞĐĂůĞŶĚƌŝĞƌƉĞƌƉĠƚƵĞůĚĞďƵƌĞĂƵ͘ >Ğϭϯ:ƵŝůůĞƚǀĞƌƐϮϯŚϯϬ͕ĂƵƐƚĂĚĞŵƵŶŝĐŝƉĂů͕ Ͳ>ĂƚĞƌƌĞĂǀĞĐĂƚĞůŝĞƌĐŽƵůĂŐĞĞƚĞƐƚĂŵƉĂŐĞĞƚĂƚĞůŝĞƌŵŽĚĞůĂŐĞĞƚ ůĂĐŚĠĚĞůĂŶƚĞƌŶĞƐdŚĂŢůĂŶĚĂŝƐĞƐ;ƐŽƵƐƌĠƐĞƌǀĞĚĞůĂŵĠƚĠŽͿ ĐƌĠĂƚŝŽŶĚ͛ƵŶŵŽƵůĞĞƚĠŵĂŝůůĂŐĞ͘ ŽŶĐĞƌƚůĞϭϰ:ƵŝůůĞƚĚğƐϭϲŚWůĂĐĞ>ĠŽŶůƵŵĂǀĞĐWĂƌĂƐŽƵůƉƵŝƐĂŶŶŽŶ WŽƵƌĐŽŶŶĂŠƚƌĞůĞƉůĂŶŶŝŶŐĚĞƐĚŝĨĨĠƌĞŶƚƐĂƚĞůŝĞƌƐĂŝŶƐŝƋƵĞůĞƵƌƐ ĂůůƉůĂLJ^ƵƉĞƌƚƌĂŵƉ͘ϮϯŚϭϱ͕ĨĞƵĚ͛ĂƌƚŝĨŝĐĞĂƵ^ƚĂĚĞDƵŶŝĐŝƉĂů͘ ƚĂƌŝĨƐ͕ǀĞƵŝůůĞnjƉƌĞŶĚƌĞĐŽŶƚĂĐƚĂǀĞĐůĞsŝůůĂŐĞĂƵϬϯ͘ϱϱ͘ϯϯ͘ϭϬ͘ϭϯ  ŽƵƉĂƌĞͲŵĂŝů͗ĞŵŝůŝĞ͘ŚĂŝŐŶĞƌĞΛŝŶƚĞƌĨĂĐĞƐͲĨƌ͘ĐŽŵ͘ >Ğ^ĂŵĞĚŝϭϯŽƸƚĚğƐϮϬŚϯϬ͕ŽŶĐĞƌƚĚĞŵƵƐŝƋƵĞăů͛ĠƚĂŶŐŵƵŶŝĐŝƉĂů WŽƵƌǀŽƵƐŝŶĨŽƌŵĞƌĚĞƐĂŶŝŵĂƚŝŽŶƐĚĞůĂƌĞŶƚƌĠĞϮϬϭϭ͕ƌĞŶĚĞnjͲ ğƌĞ ƌŽƵƚĞĚĞDĞŶŶĞǀŝůůĞĂǀĞĐĞŶϭ ƉĂƌƚŝĞ͕ͨ>ĞƐ:ŽLJĞƵdžŽƵĐŚĞƌƐͩ ǀŽƵƐƐƵƌůĞƐŝƚĞŝŶƚĞƌŶĞƚǁǁǁ͘ǀŵĂĚ͘Ĩƌ͘ ;ĐŚĂŶƐŽŶƐĨƌĂŶĕĂŝƐĞƐͿĞƚĞŶϮğŵĞƉĂƌƚŝĞ͕ͨtŽŽĚƐƚŽĐŬWƌŽũĞĐƚͩ;ĂŶŶĠĞƐ >ĞsŝůůĂŐĞĐ͛ĞƐƚĂƵƐƐŝ͗ ϳϬͿ͘ZĞƉůŝĞŶĐĂƐĚĞƉůƵŝĞăůĂƐĂůůĞZĂLJŵŽŶĚƵĨŽƵƌ͘&ĞƵĚ͛ĂƌƚŝĨŝĐĞǀĞƌƐ ͲhŶĞďŽƵƚŝƋƵĞŵĠƚŝĞƌƐĚ͛ĂƌƚƐ͗>ŝĞƵŝĚĠĂůƉŽƵƌƚƌŽƵǀĞƌĚĞƐŽďũĞƚƐ ϮϯŚϭϱ ŽƌŝŐŝŶĂƵdžĨĂŝƚƐŵĂŝŶ͘  ͲĞƐĞdžƉŽƐŝƚŝŽŶƐƚĞŵƉŽƌĂŝƌĞƐ͗ͨ&ƌĂŶĕŽŝƐĞǁŝƐŵĞƉƌĠƐĞŶƚĞƐŽŶ >ĞϮϯŽƸƚ͕DĂƌĐŚĠĂŶŝŵĠͨ>ĞDŝŶŽƚĂƵƌĞͩ͘^ƉĞĐƚĂĐůĞĚĠĂŵďƵůĂƚŽŝƌĞ ĂƌĐŚĞĚĞEŽĠ͕ͩĨĂƌĂŶĚŽůĞĚĞĚƌƀůĞƐĚĞďġƚĞƐĞŶƚĞƌƌĞƚŽƵƚĚƌŽŝƚ WŽƵƌƚŽƵƚƌĞŶƐĞŝŐŶĞŵĞŶƚ͕ĐŽŶƚĂĐƚĞƌůĂDĂŝƌŝĞĚĞĞƐǀƌĞƐĂƵ ǀĞŶƵĞƐĚĞů͛ŝŵĂŐŝŶĂŝƌĞ͘ Ϭϯ͘Ϯϭ͘ϵϭ͘ϲϳ͘ϲϭ ͲZĠƚƌŽƐƉĞĐƚŝǀĞĚĞƐϮϬĂŶŶĠĞƐĚ͛ĞdžƉŽƐŝƚŝŽŶĚĞůĂDĂŝƐŽŶĚĞůĂ  &ĂŢĞŶĐĞ͘ KƵǀĞƌƚĚƵDĂƌĚŝĂƵ^ĂŵĞĚŝ͗ϵŚăϭϮŚͲϭϰŚăϭϴŚ  3URJUDPPHGX)HVWLYDO7KpkWUHGHOD &RPPXQDXWpGH&RPPXQHVGH'HVYUHV6DPHU Ğƌ )HVWLYDOGHOD&{WHG·2SDOH qPHpGLWLRQGXDX-XLOOHW >Ğ:ĞƵĚŝϳ:ƵŝůůĞƚăϮϬŚϯϬĂƵĞŶƚƌĞ^ƉŽƌƚŝĨƌƵĞĚƵWŝůďŽŝƐă ĞƐǀƌĞƐ͕ >ĂŝůƌĂĚĞƚ<ĞƌĞŶŶŶ͘ WƌŽŐƌĂŵŵĞĞƚǀĞŶƚĞĚĞďŝůůĞƚ;ƵŶŝƋƵĞŵĞŶƚƉŽƵƌĐĞĐŽŶĐĞƌƚͿă >͛KĨĨŝĐĞĚĞdŽƵƌŝƐŵĞĚĞĞƐǀƌĞƐͲ^ĂŵĞƌ͕ƌƵĞĚĞƐWŽƚŝĞƌƐăĞƐǀƌĞƐ͘ WŽƵƌƚŽƵƚƌĞŶƐĞŝŐŶĞŵĞŶƚ͕ĐŽŶƚĂĐƚĞƌůĞ&ĞƐƚŝǀĂůĚĞůĂƀƚĞĚ͛KƉĂůĞ ĂƵϬϯ͘Ϯϭ͘ϯϬ͘ϰϬ͘ϯϯŽƵĨĞƐƚŽƉĂůĞΛǁĂŶĂĚŽŽ͘Ĩƌ  >ĞsĞŶĚƌĞĚŝϭ :ƵŝůůĞƚ͗^ĂŵĞƌͨ>ĞdŚĠąƚƌĞĚĞůĂDŝĂƵůĞͩ >Ğ^ĂŵĞĚŝϮ:ƵŝůůĞƚ͗ŽůĞŵďĞƌƚͨ>ĂŽŵƉĂŐŶŝĞĚƵ&ŽŢĞƌͩ >ĞDĂƌĚŝϱ:ƵŝůůĞƚ͗ƌĠŵĂƌĞƐƚͨ>Ă>ĂŶŐƵĞWĞŶĚƵĞͩ >ĞDĞƌĐƌĞĚŝϲ:ƵŝůůĞƚ͗,ĂůŝŶŐŚĞŶͨ>Ă&ĂďƌŝƋƵĞͩ >Ğ:ĞƵĚŝϳ:ƵŝůůĞƚ͗sŝĞŝůDŽƵƚŝĞƌͨĂƐƐƵƌĞĚĞĂĂƐͩ >ĞsĞŶĚƌĞĚŝϴ:ƵŝůůĞƚ͗DĞŶŶĞǀŝůůĞͨ>ĠŽŶĞƚ'ĠƌĂƌĚͩ >Ğ^ĂŵĞĚŝϵ:ƵŝůůĞƚ͗>ŽƚƚŝŶŐŚĞŶͨ>ĞƐW͛ƚŝƚƐWŽƚŝŶƐͩ dĂƌŝĨhŶŝƋƵĞ͗ϱΦ EŽƵǀĞĂƵƚĠ͗WĂƐƐϰĞŶƚƌĠĞƐĂĐŚĞƚĠĞƐůĂϱğŵĞŐƌĂƚƵŝƚĞ ϮϬŚϯϬͲ^ĂůůĞŽŵŵƵŶĂůĞĚĞĐŚĂƋƵĞǀŝůůĂŐĞ͘ /ŶĨŽƐĂƵϬϯ͘Ϯϭ͘ϵϮ͘Ϭϳ͘ϮϬ 2IILFHGX7RXULVPH'HVYUHV6DPHUSRLQWVG·DFFXHLO  $'HVYUHV $6DPHU -XLOOHW2XYHUWGX/XQGLDX6DPHGLGHKjKHWGHKjK -XLOOHW2XYHUWGX/XQGLDX6DPHGLPDWLQGHKjK )HUPpOHGLPDQFKH (WGHKjK)HUPpPHUFUHGLHWVDPHGLDSUqVPLGL $R€W2XYHUWGX/XQGLDX6DPHGLPDWLQGHKjKHWGH $R€W2XYHUWGX/XQGLDX6DPHGLGHKjKHWGHKjK )HUPpOHGLPDQFKH KjK)HUPpPHUFUHGLHWVDPHGLDSUqVPLGL  3ODFH0DUpFKDO)RFKGDQVOHVORFDX[GHOD0DLULH