Részletes információt az oldal használatáról a Felhasználói Kézikönyvben talál.
[. . . ] ÏYLQWp]NHGpVHN
$= È5$0h7e6 . 2&. È=$7È1$. [. . . ] . , h*<(/-(1 $55$ +2*< $ /(-È76=Ï7 $ )(/+$6=1È/Ï, 87$6Ë7È62. 321726 %(7$57È6È9$/ 0. g'7(66(
), *<(/0(=7(7e6
9LJ\i]DW $] iUDPWpV HONHUOpVH pUGHNpEHQ D FVDWODNR]y GXJDV] V]pOHV pULQWNH]MpW WHOMHVHQ GXJMD EH D V]pOHV UpVEH
$] HOHNWURPRV EHUHQGH]pVHNNHO PLQW SpOGiXO UiGLyNNDO WHOHYt]LyNNDO YDOy HOHNWURPiJQHVHV
LQWHUIHUHQFLD HONHUOpVH pUGHNpEHQ D FVDWODNR]iVRNKR] iUQ\pNROW YH]HWpNHNHW pV
FVDWODNR]yNDW KDV]QiOMRQ
), *<(/0(=7(7e6
$ NpV]OpNHW YpGMH D QHGYHVVpJWO pV D W~OPHOHJHGpVWO h]HP]DYDU KLEiV PN|GpV HVHWpQ K~]]D NL D KiOy]DWL YH]HWpNHW D KiOy]DWL FVDWODNR]yEyO . O|Q|V ILJ\HOHPPHO NHOO OHQQLH DUUD KRJ\ D PRWRURV KDMWiV~ OHPH] ILyN DNDGiO\WDODQ PR]JiVD EL]WRVtWYD OHJ\HQ +D D OHPH] EHW|OW UHQGV]HU DNDGiO\R]YD YDQ D EHW|OW PHFKDQL]PXV NiURVRGKDW $ '9' OHMiWV]yW Yt]V]LQWHVHQ KHO\H]]H HO VXJiU]y KWO W]KHO\
YDJ\ HUV PiJQHVHV YDJ\ HOHNWURPRV WHUHW OpWUH KR]y NpV]OpNWO WiYRO 1H WHJ\HQ Ui QHKp] GROJRNDW 1H KDOPR]]RQ I|O UDMWD DONDWUpV]HNHW
), *<(/0(=7(7e6 $] HEEHQ D WHUPpNEHQ KDV]QiOW HOHP D N|UQ\H]HWUH NiURV YHJ\L
DQ\DJRNDW WDUWDOPD]
1H GREMD D] HOHPHNHW D N|]|QVpJHV Ki]WDUWiVL KXOODGpNRN N|]p
$MiQODWRV D] HOHP FVHUpMpW V]DNHPEHUUHO YpJH]WHWQL
26=7È/<Ò /e=(5 7(50e.
ÏYLQWp]NHGpVHN
%$/(6(79(6=e/<
$ W]YHV]pO\ YDJ\
), *<(/0(=7(7e6
(= $ 7(50e. 6. , 3´ YLVV]DXJUiV JRPERW
'9' OHMiWV]iVD N|]EHQ KD PHJQ\RPMD D Ä1(;7 6. , 3´ N|YHWNH]UH XJUiV JRPERW D N|YHWNH] IHMH]HWKH] XJULN D OHMiWV]iV +D PHJQ\RPMD D Ä%$&. 6. , 3´ YLVV]DXJUiV JRPERW D IHMH]HW HOHMpUH XJULN D OHMiWV]iV 0pJ HJ\V]HUL PHJQ\RPiViYDO D] HO] IHMH]HW HOHMpUH XJULN D OHMiWV]iV 9&' Ä0(18 2))´ NLNDSFVROW PHQ ]HPPyGEDQ W|UWpQ OHMiWV]iVDNRU 9&' YDJ\ &' OHMiWV]iVD N|]EHQ KD PHJQ\RPMD D Ä1(;7 6. , 3´ N|YHWNH]UH XJUiV
W '9' HVHWpEHQ [[[
NHUHVpV ]HPPyGEDQ YDJ\ 9&' HVHWpEHQ QDJ\ VHEHVVpJ OHMiWV]iVNRU QHP KDOOKDWy KDQJ +D D [ 6&$1 $8', 2 KDQJ OHWDSRJDWiV IXQNFLy 21 EH iOOiVED YDQ iOOtWYD D 6(783 0(18EHQ EHiOOtWiV PHQ QHP KDOOKDWy KDQJ RO\DQ OHPH]HN HVHWpEHQ DPHO\HNHW /3&0PHO '76 VHO YDJ\ 03(*YHO YHWWHN IHO
JRPERW D N|YHWNH] PVRUV]iPKR] XJULN D OHMiWV]iV +D PHJQ\RPMD D Ä%$&. 6. , 3´ YLVV]DXJUiV JRPERW D PVRUV]iP HOHMpUH XJULN D OHMiWV]iV 0pJ HJ\V]HUL
PHJQ\RPiViYDO D] HO] PVRUV]iP HOHMpUH XJULN D OHMiWV]iV +D HJ\ PVRUV]iP
SHUFQpO KRVV]DEE 9&' OHMiWV]iVD
N|]EHQ pV PHJQ\RPMD D Ä1(;7 6. , 3´ N|YHWNH]UH XJUiV JRPERW SHUFFHO HOEEUH XJULN D OHMiWV]iV +D PHJQ\RPMD D Ä%$&. 6. , 3´ YLVV]DXJUiV JRPERW SHUFFHO YLVV]DXJULN D OHMiWV]iV 9&' PHQ ]HPPyGEDQ YDJ\ PVRUV]iP EHPXWDWiV
IXQNFLyEDQ W|UWpQ OHMiWV]iVD N|]EHQ KD PHJQ\RPMD D
Ä1(;7 6. , 3´ N|YHWNH]UH XJUiV JRPERW D N|YHWNH] PHQUH YDJ\ D N|YHWNH] PVRUV]iP EHPXWDWiV NLMHO]pVUH XJULN +D PHJQ\RPMD D Ä%$&. [. . . ] 9, (:´ WDUWDORP EHPXWDWiV PHJMHOHQtWGLN +D HJ\ '9' HVHWpEHQ Q\RPMD PHJ D Ä723 0(18´ IHOV PHQ JRPERW D OHPH] Ä7, 7/( 0(18´ FtPIHMH]HW PHQ IXQNFLyMD MHOHQLN PHJ $ OHPH]QHN OHJDOiEE NpW FtPIHMH]HWWHO NHOO UHQGHONH]QLH KRJ\ D Ä7, 7/( 0(18´ FtPIHMH]HW PHQ IXQNFLy PN|GM|Q
+D HJ\ &' HVHWpEHQ Q\RPMD PHJ D Ä723 0(18´ IHOV PHQ JRPERW D NpV]OpN EHOpS
D] Ä, 1752´ EHMiWV]iV ]HPPyGED $] Ä, 1752´ EHMiWV]iV OHKHWYp WHV]L PLQGHQ HJ\HV
PVRUV]iP HOV NE PiVRGSHUFpQHN PHJKDOOJDWiViW
$EHV]pGQ\HOYpQHNNLYiODV]WiVD
$] Ä$8', 2´ KDQJ JRPE VHJtWVpJpYHO J\RUVDQ pV N|QQ\HGpQ NLYiODV]WKDWMD D NtYiQW Q\HOYHW
$] Ä$8', 2´ KDQJ JRPE KDV]QiODWD
1\RPMD PHJ D] Ä$8', 2´ KDQJ JRPERW
$] Ä83'2:1´ IHOOH JRPE KDV]QiODWiYDO YiODVV]D NL D NtYiQW Q\HOYHW D '9'Q
$ EHV]pG pV IHOLUDWR]iV Q\HOYHL U|YLGtWYH YDQQDN
PHJMHOHQtWYH
$] Ä83'2:1´ IHOOH JRPE KDV]QiODWiYDO YiODVV]D NL D Ä67(5(2´W V]WHUHR Ä5 &+$11(/´W MREE FVDWRUQD YDJ\ Ä/ &+$11(/´W EDO FVDWRUQD
$ Ä0(18´ PHQ JRPE KDV]QiODWD '9' OHMiWV]iVDNRU
(] D IXQNFLy DWWyO IJJ KRJ\
PHO\LN Q\HOYHN YDQQDN NyGROYD D OHPH]HQ pV HVHWOHJ QHP PN|GKHW PLQGHJ\LN '9'QpO (J\ '9' OHPH] OHJIHOMHEE EHV]pG Q\HOYHW WDUWDOPD]KDW $ WHNLQWHWEHQ KRJ\ PLQGLJ XJ\DQD] OHJ\HQ D EHV]pG Q\HOY DPLNRU OHMiWV]LN HJ\ '9'W WiMpNR]yGMRQ D Ä$ Q\HOY WXODMGRQViJRN EHiOOtWiVD´ IHMH]HWEHQ D 2OGDORQ
1\RPMD PHJ D Ä0(18´ PHQ JRPERW
$] Ä83'2:1´ IHOOH JRPE KDV]QiODWiYDO YiODVV]D NL D] Ä$8', 2´ KDQJ LQIRUPiFLyW 1\RPMD PHJ D] Ä(17(5´ EHOpSpV JRPERW
$] Ä83'2:1´ IHOOH JRPE KDV]QiODWiYDO YiODVV]D NL D] Ä(1*/, 6+´ DQJRO ]HPPyGRW 1\RPMD PHJ D] Ä(17(5´ EHOpSpV JRPERW
9&' OHMiWV]iVDNRU
$ OHPH] YHU]LyQiO D Ä0(18´ PHQ JRPE YiOWy NDSFVROyNpQW PN|GLN D Ä0(18 21´ PHQ EH pV Ä0(18 2))´ PHQ NL ]HPPyGRN N|]|WW 9&' YDJ\ &' OHMiWV]iVDNRU D Ä0(18´ PHQ JRPE QHP PN|GLN
$IHOLUDWR]iVQ\HOYpQHNNLYiODV]WiVD
$] Ä68%7, 7/(´ IHOLUDWR]iV JRPE VHJtWVpJpYHO J\RUVDQ pV N|QQ\HGpQ NLYiODV]WKDWMD D NtYiQW
IHOLUDWR]iVW
$] Ä68%7, 7/(´ IHOLUDWR]iV JRPE KDV]QiODWD
1\RPMD PHJ D Ä68%7, 7/(´ IHOLUDWR]iV JRPERW $] Ä83'2:1´ IHOOH JRPE KDV]QiODWiYDO
YiODVV]D NL D IHOLUDWR]iV NtYiQW Q\HOYpW
$ Ä/()75, *+7´ EDOUDMREEUD JRPE
KDV]QiODWiYDO PHJKDWiUR]KDWMD KRJ\ NL OHJ\HQ MHOH]YH D IHOLUDWR]iV YDJ\ QH
. H]GHWEHQ D IHOLUDWR]iV QHP MHOHQLN PHJ D NpSHUQ\Q $ EHV]pG pV IHOLUDWR]iV Q\HOYHL U|YLGtWYH YDQQDN
PHJMHOHQtWYH
$ Ä0(18´ PHQ JRPE KDV]QiODWD
(] D IXQNFLy DWWyO IJJ
KRJ\ PHO\LN Q\HOYHN YDQQDN NyGROYD D OHPH]HQ pV HVHWOHJ QHP PN|GKHW PLQGHJ\LN '9'QpO (J\ '9' OHPH] OHJIHOMHEE IHOLUDWR]iVL Q\HOYHW WDUWDOPD]KDW $ WHNLQWHWEHQ KRJ\ PLQGLJ XJ\DQD] OHJ\HQ D IHOLUDWR]iV Q\HOYH DPLNRU OHMiWV]LN HJ\ '9'W WiMpNR]yGMRQ D Ä$ Q\HOY WXODMGRQViJRN EHiOOtWiVD´ IHMH]HWEHQ D 2OGDORQ
1\RPMD PHJ D Ä0(18´ PHQ JRPERW
$] Ä83'2:1´ IHOOH JRPE KDV]QiODWiYDO YiODVV]D NL D Ä68%7, 7/(´ IHOLUDWR]iV LQIRUPiFLyW 1\RPMD PHJ D] Ä(17(5´ EHOpSpV JRPERW
$] Ä83'2:1´ IHOOH JRPE KDV]QiODWiYDO
YiODVV]D NL D NtYiQW Q\HOYHW
1\RPMD PHJ D] Ä(17(5´ EHOpSpV JRPERW
9&' OHMiWV]iVDNRU
$ OHPH] YHU]LyQiO D Ä0(18´ PHQ JRPE YiOWy NDSFVROyNpQW PN|GLN D Ä0(18 21´ PHQ EH pV Ä0(18 2))´ PHQ NL ]HPPyGRN N|]|WW 9&' YDJ\ &' OHMiWV]iVDNRU D Ä0(18´ PHQ JRPE QHP PN|GLN
$NDPHUDOiWyV]|JNLYiODV]WiVD
+D HJ\ '9' HJ\ NO|QOHJHV MHOHQHW W|EE OiWyV]|JpW LV WDUWDOPD]]D NLYiODV]WKDWMD D /iWyV]|J IXQNFLyW
$] Ä$1*/(´ OiWyV]|J JRPE KDV]QiODWD
(OOHQUL]]H KRJ\ OiWKDWyH HJ\ Ä$1*/(´ OiWyV]|J
MHO D NpSHUQ\ MREE IHOV EDO IHOV VDUNiEDQ
+D HJ\ Ä$1*/(´ OiWyV]|J MHO OiWKDWy Q\RPMD PHJ D] Ä$1*/(´ OiWyV]|J JRPERW $] Ä83'2:1´ IHOOH JRPE KDV]QiODWiYDO
YiODVV]D NL D NtYiQW NpSHUQ\ OiWyV]|JHW 0DMG
Q\RPMD PHJ D] Ä(17(5´ EHOpSpV JRPERW
$ NLMHO]pV NLNDSFVROiViKR] Q\RPMD PHJ LVPpW
D] Ä$1*/(´ OiWyV]|J JRPERW
$ I KDQJHU V]DEiO\R]y IXQNFLy KDV]QiODWD
1\RPMD PHJ D Ä', 63/$<´ NLMHO] JRPERW NpWV]HU $] Ä83'2:1´ IHOOH JRPE
KDV]QiODWiYDO YiODVV]D NL D PHJIHOHO KDQJHUW
W
1 KDQJHU V]DEiO\R]y IXQNFLy OHKHWYp WHV]L D OHMiWV]y NLPHQHWL KDQJHUHMpQHN
EHiOOtWiViW (] DUUD KDV]QiOKDWy KRJ\ HJ\H]WHVVH D OHMiWV]y NLPHQHWL MHOV]LQWMpW PiV NpV]OpNHNKH] D UHQGV]HUEHQ
$ I KDQJHU V]DEiO\]y IXQNFLy D '76VHO HOOiWRWW &'N HVHWpEHQ QHP PN|GLN D Ä92/80(
´ KDQJHU V]LQW DODWW +D D Ä', *, 7$/ 287387´ GLJLWiOLV NLPHQHW Ä%, 7675($0´UH YDQ iOOtWYD D Ä6(783 0(18´ EHQ EHiOOtWiV PHQ D KDQJHU V]DEiO\R]iV IXQNFLy QHP PN|GLN
$N|Q\YMHO]IXQNFLyKDV]QiODWD
$ N|Q\YMHO] IXQNFLy OHKHWYp WHV]L KRJ\ PHJMHO|OKHVVHQ UpV]HNHW D '9'Q YDJ\ 9&'Q
0(18 2)) PHQ NLNDSFVROYD ]HPPyG KRJ\ NpVEE J\RUVDQ PHJWDOiOKDVVD D]W D UpV]W
$ N|Q\YMHO] IXQNFLy KDV]QiODWD '9'9&'
W (J\V]HUUH OHJIHOMHEE
KiURP MHOHQHW OHKHW PHJMHO|OYH 9&' ]HPPyGEDQ 0(18 21 ]HPPyG H] D IXQNFLy QHP PN|GLN $ OHPH]WO IJJHQ D N|Q\YMHO] IXQNFLy HVHWOHJ QHP PN|GKHW
/HMiWV]iV N|]EHQ Q\RPMD PHJ D Ä%22. 0$5. ´ N|Q\YMHO] JRPERW D WiYLUiQ\tWyQ (J\ MHO] PHJMHOHQtWGLN $ Ä/()75, *+7´ EDOUDMREEUD JRPE
iEUiFVNiLJ
KDV]QiODWiYDO PHQMHQ HO D NtYiQW N|Q\YMHO]
$PLNRU HOpUWH D PHJMHO|OQL NtYiQW MHOHQHWHW
Q\RPMD PHJ D] Ä(17(5´ EHOpSpV JRPERW $] iEUiFVND iWYiOWR]LN HJ\ V]iPPi YDJ\ 1\RPMD PHJ D Ä%22. 0$5. ´ N|Q\YMHO]
JRPERW D NLMHO]pV NLNDSFVROiViKR]
(J\ PHJMHO|OW MHOHQHW YLVV]DKtYiVD
/HMiWV]iV N|]EHQ Q\RPMD PHJ D Ä%22. 0$5. ´ N|Q\YMHO] JRPERW D WiYLUiQ\tWyQ $ Ä/()75, *+7´ EDOUDMREEUD JRPE
KDV]QiODWiYDO YiODVV]RQ NL HJ\ PHJMHO|OW MHOHQHWHW
1\RPMD PHJ D Ä3/$<3$86(´
OHMiWV]iVV]QHW JRPERW D PHJMHO|OW MHOHQHWKH]
XJUiVKR]
. |Q\YMHO] W|UOpVH
/HMiWV]iV N|]EHQ Q\RPMD PHJ D Ä%22. 0$5. ´ N|Q\YMHO] JRPERW D WiYLUiQ\tWyQ $ Ä/()75, *+7´ EDOUDMREEUD JRPE
KDV]QiODWiYDO YiODVV]D NL D W|U|OQL NtYiQW N|Q\YMHO] V]iPiW
1\RPMD PHJ D Ä&/($5´ W|U|O JRPERW D N|Q\YMHO] V]iPiQDN W|UOpVpKH] 1\RPMD PHJ D Ä%22. 0$5. ´ N|Q\YMHO] JRPERW D NLMHO]pV NLNDSFVROiViKR]
KDV]QiODWD
$QDJ\tWiVpV'KDQJ]iVIXQNFLyN
$ QDJ\tWiV IXQNFLy KDV]QiODWD '9'9&'
/HMiWV]iV N|]EHQ YDJ\ V]QHW ]HPPyGEDQ
Q\RPMD PHJ D Ä=220´ QDJ\tWiV JRPERW D
WiYLUiQ\tWyQ (J\ QpJ\]HW PHJMHOHQtWGLN D NpSHUQ\Q
$= Ä83'2:1´ IHOOH YDJ\ Ä/()75, *+7´ EDOUDMREEUD JRPERN KDV]QiODWiYDO YiODVV]D NL
D NpSHUQ\ QDJ\tWDQL NtYiQW UpV]pW
1\RPMD PHJ D] Ä(17(5´ EHOpSpV JRPERW
'9' OHMiWV]iVD N|]EHQ Q\RPMD PHJ D] Ä(17(5´
EHOpSpV JRPERW D VRUUHQGEHQ ;;QRUPiOLV QDJ\tWiVKR]
9&' OHMiWV]iVD N|]EHQ Q\RPMD PHJ D] Ä(17(5´
EHOpSpV JRPERW D VRUUHQGEHQ ;QRUPiOLV QDJ\tWiVKR]
$ ' KDQJ]iV IXQNFLy KDV]QiODWD
$ V]LPXOiOW VXUURXQG KDWiV WpUKDWiV 63$7, $/, =(5 1
D OHPH] WDUWDOPiWyO IJJ +D D NpV]OpNHW D V]WHUHR UHQGV]HUKH] FVDWODNR]WDWMD MDYtWKDWMD D KDQJ PLQVpJHW pV
QDJ\REE VXUURXQG KDWiVW WpUKDWiV WHUHPWKHW
(] D WXODMGRQViJ DNNRU KDV]QRV DPLNRU D '9' OHMiWV]yW NpW FVDWRUQiV V]WHUHyYDO KDV]QiOMD D] DQDOyJ NLPHQHWHNHQ
NHUHV]WO /3&0PHO YDJ\ '76VHO IHOYHWW OHPH]HNQpO QHP PN|GLN $PLNRU D Ä'2/%< ', *, 7$/ 287´ 'ROE\ 'LJLWDO NLPHQHW YDJ\ D] Ä03(* ', *, 7$/ 287´ 03(* GLJLWiOLV NLPHQHW Ä%, 7675($0´UH YDQ iOOtWYD D Ä6(783 0(18´EHQ EHiOOtWiV PHQ D ' KDQJ]iV IXQNFLy QHP PN|GLN
W $ ' KDQJ]iV FVDN D]RNQiO D
OHPH]HNQpO OHKHWVpJHV PHO\HN '2/%< 6855281' YDJ\ '2/%< ', *, 7$/ KDV]QiODWiYDO OHWWHN IHOYpYH $]RQEDQ H]HQ OHPH]HN QpPHO\LNH QHP WDUWDOPD] KiWVy FVDWRUQiV KDQJ MHOHNHW $ OHPH]WO IJJHQ D QDJ\tWiV pV ' KDQJ]iV IXQNFLyN HVHWOHJ QHP PN|GKHWQHN
/HMiWV]iV N|]EHQ Q\RPMD PHJ D Ä' 6281'´ ' KDQJ]iV JRPERW $ Ä' 6281'´ ' KDQJ]iV MHO]pV PHJMHOHQtWGLN D NpSHUQ\Q *\]GM|Q PHJ DUUyO KRJ\ D Ä'2/%< ', *, 7$/ 287´ 'ROE\ 'LJLWDO NLPHQHW YDJ\ D] Ä03(* ', *, 7$/ 287´ 03(* GLJLWiOLV NLPHQHW Ä3&0´UH OHJ\HQHN iOOtWYD 1\RPMD PHJ D] Ä83'2:1´ IHOOH JRPERW D ' KDQJ]iV WXODMGRQViJ EH YDJ\ NLNDSFVROiViKR]
$EHiOOtWiVPHQKDV]QiODWD
$ EHiOOtWiV PHQ OHKHWYp WHV]L D '9' OHMiWV]y V]HPpO\UH V]DEiViW D]iOWDO KRJ\ NLYiODV]WKDW
V]iPRV Q\HOY EHiOOtWiVW EHiOOtWKDWMD D V]OL WLOWiV V]LQWMpW VW EHiOOtWKDWMD D OHMiWV]yW D WHOHYt]LyMD NpSHUQ\MpQHN WtSXViKR]
n o F G H
$PLNRU QHP MiWV]LN OH OHPH]W Q\RPMD PHJ D
Ä6(783´ EHiOOtWiV JRPERW D WiYLUiQ\tWyQ
/HMiWV]y PHQ $ NLMHO] Q\HOYpQHN EHiOOtWiVD OG
2OGDORQ $ OHMiWV]y YiODV]WiV PHQMpQHN KDV]QiODWiYDO YiODVV]D NL D OHMiWV]y NpSHUQ\ NLMHO]MpQHN Q\HOYpW
/HPH] PHQ $ PHQ Q\HOYpQHN EHiOOtWiVD OG
2OGDORQ $ PHQ YiODV]WiV PHQMpQHN KDV]QiODWiYDO YiODVV]D NL D NtYiQW Q\HOYHW D '9' OHPH] PHQMpQHN NLMHO]pVpKH]
%HV]pG $ EHV]pG Q\HOYpQHN EHiOOtWiVD OG
2OGDORQ $ EHV]pG YiODV]WiV PHQMpQHN KDV]QiODWiYDO
YiODVV]D NL D KDQJ PVRUV]iP Q\HOYpW
)HOLUDWR]iV $ IHOLUDWR]iV Q\HOYpQHN EHiOOtWiVD OG
2OGDORQ $ IHOLUDWR]iV YiODV]WiV PHQMpQHN KDV]QiODWiYDO YiODVV]D NL D NtYiQW Q\HOYHW D OHPH] IHOLUDWR]iViQDN NLMHO]pVpKH]
6]OL WLOWiV
$ V]OL WLOWiV V]LQWMpQHN EHiOOtWiVD OG
2OGDORQ $ V]OL WLOWiV OHKHWYp WHV]L D IHOKDV]QiOy
V]iPiUD KRJ\ EHiOOtWVD D V]NVpJHV PpUWpNEHQ D J\HUHN HOWLOWiViW D NiURV ILOPHN Qp]pVpWO PLQW SpOGiXO HUV]DNRW IHOQWW WpPiM~ DQ\DJRW VWEW WDUWDOPD]yN
I J
+DQJ RSFLyN $ KDQJ RSFLyN EHiOOtWiVD OG $
2OGDORQ
. LMHO] RSFLyN $ NLMHO] RSFLyN EHiOOtWiVD OG $
2OGDORQ +DV]QiODWiYDO NLYiODV]WKDWMD D Qp]QL NtYiQW NpSHUQ\ WtSXViW pV V]iPRV NLMHO] RSFLyW
$ OHPH]WO IJJHQ QpKiQ\
%HiOOtWiV PHQ NLYiODV]WiV HVHWOHJ QHP PN|GKHW
+DV]QiOMD D] Ä83'2:1´ IHOOH JRPERW D
WiYLUiQ\tWyQ D NO|QE|] PHQ SRQWRN KR]]iIpUpVpKH]
1\RPMD PHJ D] Ä(17(5´ EHOpSpV JRPERW D
PHQ DOSRQWRN KR]]iIpUpVpKH]
$ EHiOOtWiV XWiQ D EHiOOtWiVL NpSHUQ\ HOWQWHWpVpKH] Q\RPMD PHJ LVPpW D Ä6(783´ EHiOOtWiV JRPERW
$Q\HOYWXODMGRQViJRNEHiOOtWiVD
+D HOUH
EHiOOtWMD D OHMiWV]y PHQW D OHPH] PHQW D EHV]pG pV IHOLUDWR]iV Q\HOYHW H] PLQGHQ DONDORPPDO DXWRPDWLNXVDQ pUYpQ\HVO DPLNRU ILOPHW Qp]
$] DQJRO EHiOOtWiVD
$ OHMiWV]y PHQ KDV]QiODWD
$PLNRU QHP MiWV]LN OH OHPH]W Q\RPMD PHJ D
Ä6(783´ EHiOOtWiV JRPERW
$] Ä83'2:1´ IHOOH JRPE KDV]QiODWiYDO YiODVV]D NL D Ä3/$<(5 0(18´W OHMiWV]iV PHQ
1\RPMD PHJ D] Ä(17(5´ EHOpSpV JRPERW
$] Ä83'2:1´ IHOOH JRPE KDV]QiODWiYDO YiODVV]D NL D] Ä(1*/, 6+´W DQJRO
1\RPMD PHJ D] Ä(17(5´ EHOpSpV JRPERW
$] Ä(1*/, 6+´ DQJRO NL YDQ YiODV]WYD pV D NpSHUQ\ YLVV]DWpU D Ä6(783 0(18´K|] EHiOOtWiV PHQ
$ Ä6(783 0(18´ EHiOOtWiV PHQ HOWQWHWpVpKH] Q\RPMD PHJ D Ä5(7851´ YLVV]DWpUpV JRPERW
$] DQJRO EHiOOtWiVD
$ OHPH] PHQ Q\HOY KDV]QiODWD
(] D IXQNFLy FVDN D OHPH] PHQ NpSHUQ\LQ OpY
V]|YHJ Q\HOYpW YiOWR]WDWMD PHJ
$PLNRU QHP MiWV]LN OH OHPH]W Q\RPMD PHJ D
Ä6(783´ EHiOOtWiV JRPERW $] Ä83'2:1´ IHOOH JRPE KDV]QiODWiYDO YiODVV]D NL D Ä', 6& 0(18´W OHPH] PHQ 1\RPMD PHJ D] Ä(17(5´ EHOpSpV JRPERW
$] Ä83'2:1´ IHOOH JRPE KDV]QiODWiYDO YiODVV]D NL D] Ä(1*/, 6+´W DQJRO
9iODVV]D NL D] Ä27+(56´W HJ\pE KD D NtYiQW Q\HOY QHP V]HUHSHO D OLVWiQ
1\RPMD PHJ D] Ä(17(5´ EHOpSpV JRPERW
$] Ä(1*/, 6+´ DQJRO NL YDQ YiODV]WYD pV D NpSHUQ\ YLVV]DWpU D Ä6(783 0(18´K|] EHiOOtWiV PHQ
$Q\HOYWXODMGRQViJRNEHiOOtWiVD
$ EHV]pG Q\HOY KDV]QiODWD
$PLNRU QHP MiWV]LN OH OHPH]W Q\RPMD PHJ D
Ä6(783´ EHiOOtWiV JRPERW 1\RPMD PHJ D] Ä83'2:1´ IHOOH JRPERW D] Ä$8', 2´ KDQJ HOpUpVpKH] 1\RPMD PHJ D] Ä(17(5´ EHOpSpV JRPERW
1\RPMD PHJ D] Ä83'2:1´ IHOOH JRPERW D] Ä(1*/, 6+´ DQJRO NLYiODV]WiViKR]
9iODVV]D NL D] Ä25, *, 1$/´W HUHGHWL KD D]W V]HUHWQp
KRJ\ D KDQJ PVRUV]iPRN Q\HOYH DODSEHiOOtWiVNpQW D] D] HUHGHWL Q\HOY OHJ\HQ DPHO\HQ D OHPH]W IHOYHWWpN 9iODVV]D NL D] Ä27+(56´W HJ\pE KD D NtYiQW Q\HOY
QHP V]HUHSHO D OLVWiQ
+D D NLYiODV]WRWW Q\HOY QLQFV IHOYpYH D OHPH]UH D] HUHGHWL HOUH IHOYHWW
Q\HOY YiODV]WyGLN NL
1\RPMD PHJ D] Ä(17(5´ EHOpSpV JRPERW
$] Ä(1*/, 6+´ DQJRO NL YDQ YiODV]WYD pV D NpSHUQ\ YLVV]DWpU D Ä6(783 0(18´K|] EHiOOtWiV PHQ
$ IHOLUDWR]iV Q\HOY KDV]QiODWD
$PLNRU QHP MiWV]LN OH OHPH]W Q\RPMD PHJ D
Ä6(783´ EHiOOtWiV JRPERW 1\RPMD PHJ D] Ä83'2:1´ IHOOH JRPERW D Ä68%7, 7/(´ IHOLUDWR]iV NLYiODV]WiViKR] 1\RPMD PHJ D] Ä(17(5´ EHOpSpV JRPERW
+DV]QiOMD D] Ä83'2:1´ IHOOH JRPERW D] Ä(1*/, 6+´ DQJRO NLYiODV]WiViKR]
9iODVV]D NL D] Ä$8720$7, &´RW DXWRPDWLNXV KD D]W
V]HUHWQp KRJ\ D IHOLUDWR]iV Q\HOYH PHJHJ\H]]HQ D EHV]pG NLYiODV]WRWW Q\HOYpYHO 9iODVV]D NL D] Ä27+(56´W HJ\pE KD D NtYiQW Q\HOY
+RJ\ D Ä6(783 0(18´
EHiOOtWiV PHQ HOWQM|Q YDJ\ YLVV]DWpUMHQ D PHQ NpSHUQ\ D EHiOOtWiV N|]EHQ Q\RPMD PHJ D Ä5(7851´ YLVV]DWpUpV JRPERW
QHP V]HUHSHO D OLVWiQ 1pKiQ\ OHPH] HVHWOHJ QHP
WDUWDOPD]KDWMD D]W D Q\HOYHW DPLW NH]GHWL Q\HOYHNpQW NLYiODV]WRWW HEEHQ D] HVHWEHQ D OHPH] D VDMiW HUHGHWL Q\HOY EHiOOtWiViW KDV]QiOMD
1\RPMD PHJ D] Ä(17(5´ EHOpSpV JRPERW
$] Ä(1*/, 6+´ DQJRO NL YDQ YiODV]WYD pV D NpSHUQ\ YLVV]DWpU D Ä6(783 0(18´K|] EHiOOtWiV PHQ
$V]OLWLOWiVEHiOOtWiVD
$ V]OL WLOWiV IXQNFLy D]RNQiO D '9'NQpO PN|GLN DPHO\HN V]DEiO\R]iVVDO YDQQDN
PHJMHO|OYH ± H] VHJtWL D '9'N WtSXViQDN HOOHQU]pVpW DPLNHW D FVDOiGMD LV Qp] /HJIHOMHEE V]DEiO\R]iVL V]LQW OHKHW HJ\ OHPH]HQ
$PLNRU QHP MiWV]LN OH OHPH]W Q\RPMD PHJ D
Ä6(783´ EHiOOtWiV JRPERW $ EHiOOtWiV PHQ
NpSHUQ\ PHJMHOHQLN
$] Ä83'2:1´ IHOOH JRPE KDV]QiODWiYDO YiODVV]D NL D Ä3DUHQWDO´W V]OL WLOWiV 1\RPMD PHJ D] Ä(17(5´ EHOpSpV JRPERW $ V]OL WLOWiV NpSHUQ\ PHJMHOHQLN $ Ä/()75, *+7´ EDOUDMREEUD JRPE KDV]QiODWiYDO YiODVV]D NL D Ä<(6´W LJHQ KD V]HUHWQH MHOV]yW KDV]QiOQL 1\RPMD PHJ D] Ä(17(5´ EHOpSpV
JRPERW $ MHOV]y EHtUiV NpSHUQ\ PHJMHOHQLN ËUMD EH D MHOV]DYiW $ MHOV]y ~MUD EHtUiV NpSHUQ\ PHJMHOHQLN D MHOV]y PHJHUVtWpVpKH] ËUMD EH D MHOV]DYiW LVPpW $ V]OL WLOWiV NpSHUQ\ PHJMHOHQLN
$ V]DEiO\R]iVL V]LQWUO
$ V]DEiO\R]iVL V]LQW FVDN DNNRU PN|GLN KD D MHOV]y KDV]QiODWD Ä<HV´UH LJHQ YDQ iOOtWYD $ OHMiWV]y IHOROGiViKR] D Ä/()75, *+7´ EDOUDMREEUD JRPE KDV]QiODWiYDO YiODVV]D NL D Ä12´W QHP $] Ä83'2:1´ IHOOH JRPE KDV]QiODWiYDO NLYiODV]WKDWMD D V]DEiO\R]iV V]LQWMpW 1\RPMD PHJ D] Ä(17(5´ EHOpSpV JRPERW $] Ä83'2:1´ IHOOH JRPE KDV]QiODWiYDO YiODVV]D NL D V]LQWHW SO /(9(/ RV V]LQW pV Q\RPMD PHJ D] Ä(17(5´ EHOpSpV JRPERW $ HV V]LQWHW WDUWDOPD]y OHPH]W PRVW QHP OHKHW OHMiWV]DQL $ V]DEiO\R]iVL V]LQW W|UOpVpKH] D Ä/()75, *+7´ EDOUDMREEUD JRPE KDV]QiODWiYDO YiODVV]D NL D Ä12´W QHP D MHOV]y KDV]QiODWD PHQSRQWEDQ
$ MHOV]y PHJYiOWR]WDWiViUyO
$] Ä83'2:1´ IHOOH JRPE KDV]QiODWiYDO YiODVV]D NL D Ä&KDQJH 3DVVZRUG´ MHOV]y PHJYiOWR]WDWiV PHQSRQWRW $ MHOV]y PHJYiOWR]WDWiV NpSHUQ\ PHJMHOHQLN ËUMD EH D] ~M MHOV]DYiW ËUMD EH ~MUD D] ~M MHOV]DYiW
+RJ\ HOWQWHVVH D EHiOOtWiV PHQW YDJ\ YLVV]DWpUMHQ D PHQ NpSHUQ\K|]
N|]EHQ Q\RPMD PHJ D Ä5(7851´ YLVV]DWpUpV JRPERW +LEDNHUHV WiEOi]DWEDQ
D EHiOOtWiV
+D HOIHOHMWHWWH D MHOV]DYiW Qp]]H PHJ D Ä)RUJHW 3DVVZRUG´ MHOV]y HOIHOHMWpVH UpV]W D
$KDQJRSFLyNEHiOOtWiVD
n
$PLNRU QHP MiWV]LN OH OHPH]W Q\RPMD PHJ D Ä6(783´ EHiOOtWiV JRPERW
$] Ä83'2:1´ IHOOH JRPE KDV]QiODWiYDO YiODVV]D NL D] Ä$8', 2 237, 216´ KDQJ RSFLyN PHQSRQWRW 0DMG Q\RPMD PHJ D] Ä(17(5´ EHOpSpV JRPERW $] Ä83'2:1´ IHOOH JRPE KDV]QiODWiYDO YiODVV]D
NL D NtYiQW PHQSRQWRW 0DMG Q\RPMD PHJ D
Ä/()75, *+7´ EDOUD MREEUD JRPERW '2/%< ', *, 7$/ 287 NLPHQHWo 03(* ', *, 7$/ 287 NLPHQHW
3&0 3&0 FVDWRUQiV N+] %LWHV KDQJUD
DODNtW iW 9iODVV]D NL D 3&0HW DPLNRU DQDOyJ KDQJ NLPHQHWHNHW KDV]QiO
%, 7675($0 'ROE\ 'LJLWDO %, 7675($0UH DODNtW iW ± FVDWRUQiV 03(* HVHWpEHQ FVDWRUQiV 9iODVV]D NL D %, 7675($0HW DPLNRU
GLJLWiOLV KDQJ NLPHQHWHW KDV]QiO
0HJMHJ\]pV hJ\HOMHQ DUUD KRJ\ D PHJIHOHO GLJLWiOLV NLPHQHWHW YiODVV]D NL NO|QEHQ QHP IRJ KDQJRW KDOODQL
F
'76 21 EH &VDN D GLJLWiOLV NLPHQHWHQ NHUHV]WO DG NL '76 %, 7675($0 MHOHW 9iODVV]D NL D '76W DPLNRU '76 GHNyGHUKH] FVDWODNR]WDW 2)) NL 1HP DG NL GLJLWiOLV MHOHW
G H
+RJ\ HOWQWHVVH D EHiOOtWiV
PHQW YDJ\ YLVV]DWpUMHQ D PHQ NpSHUQ\K|] D EHiOOtWiV N|]EHQ Q\RPMD PHJ
Ä'<1$0, & &2035(66, 21´ GLQDPLNXV W|P|UtWpV 21 EH D GLQDPLNXV W|P|UtWpV NLYiODV]WiViKR] 2)) NL $ QRUPiOLV WDUWRPiQ\ NLYiODV]WiViKR]
Ä; 6&$1 $8', 2´ [ KDQJ OHWDSRJDWiV 21 EH %HNDSFVROMD D [ KDQJRW 2)) NL . LNDSFVROMD D [ KDQJRW
+D D [ 6&$1 $8', 2 PHQSRQW Ä21´UD EH YDQ
iOOtWYD D EHiOOtWiV PHQEHQ QHP OHKHW KDQJRW KDOODQL D]RNRQ D OHPH]HNHQ DPHO\HNHW /3&0PHO '76VHO YDJ\ 03(*YHO YHWWHN IHO
D Ä5(7851´ YLVV]DWpUpV JRPERW
(]HQ WHUPpN EL]RQ\RV KDQJ WXODMGRQViJDL IXQNFLyL D 'HVSHU 3URGXFWV , QF OLFHQV]H DODSMiQ YDQQDN NpV]tWYH $ 6SDWLDOL]HU pV D ÄN|U D QpJ\]HWEHQ´ iEUD D 'HVSHU 3URGXFWV , QF WXODMGRQiEDQ OpY YpGMHJ\HN *\iUWYD D 'ROE\ /DERUDWRULHV OLFHQV]H DODSMiQ $ Ä'ROE\´ pV D GXSOD' MHO D 'ROE\
/DERUDWRULHV YpGMHJ\HL 7LWNRV QHP SXEOLNiOW PXQNiN 'ROE\ /DERUDWRULHV , QF
0LQGHQ MRJ IHQQWDUWYD $ Ä'76´ pV D Ä'76 'LJLWDO 2XW´ D 'LJLWDO 7KHDWHU 6\VWHPV , QF YpGMHJ\HL
$NLMHO]RSFLyNEHiOOtWiVD
n
$PLNRU QHP MiWV]LN OH OHPH]W Q\RPMD PHJ D Ä6(783´ EHiOOtWiV JRPERW
$] Ä83'2:1´ IHOOH JRPE KDV]QiODWiYDO YiODVV]D NL D] Ä', 63/$< 237, 216´ NLMHO] RSFLyN PHQSRQWRW 0DMG Q\RPMD PHJ D] Ä(17(5´ EHOpSpV JRPERW $] Ä83'2:1´ IHOOH JRPE KDV]QiODWiYDO YiODVV]D NL D NtYiQW PHQSRQWRW 0DMG Q\RPMD PHJ D Ä/()75, *+7´ EDOUD MREEUD JRPERW
79 NpSPpUHWDUiQ\D
/(77(5 %2; 9iODVV]D H]W KD D '9' iOWDO
V]ROJiOWDWRWW DUiQ\~ NpSHUQ\ WHOMHV HJpV]pW NtYiQMD Qp]QL PpJ KD D] gQ 79MH NpSHUQ\ DUiQ\~ LV $ NpSHUQ\ DOVy pV IHOV UpV]pQ IHNHWH ViYRN MHOHQQHN PHJ 3$16&$1 9iODVV]D H]W KDJ\RPiQ\RV PpUHW 79 KH] KD D DUiQ\~ NpSHUQ\ N|]pSV UpV]pW NtYiQMD
Qp]QL $ NpS OHJV]pOV EDO pV MREE ROGDOD OH OHV] YiJYD :, '( $ WHOMHV NpSHW Qp]KHWL D V]pOHVNpSHUQ\M 79MpQ
o
ÈOOyNpS ]HPPyG
), (/' 9iODVV]D H]W KD D NpSHUQ\ UHPHJ D] $872
DXWRPDWLNXV ]HPPyGEDQ )5$0( 9iODVV]D H]W KD D NLV EHWNHW PpJ WLV]WiEEDQ NtYiQMD OiWQL D] $872 DXWRPDWLNXV ]HPPyGEDQ $872 $] $872 DXWRPDWLNXV NLYiODV]WiVDNRU D ), (/')5$0( ]HPPyG DXWRPDWLNXVDQ iWYiOW
F . pSHUQ\ ]HQHWHN G
(OODS NLMHO]
+DV]QiODWiYDO EH pV NLNDSFVROKDWMD D NpSHUQ\ ]HQHWHNHW
%HiOOtWMD D NpV]OpN HOODS NLMHO]MpQHN IpQ\HUVVpJpW %5, *+7 )pQ\HVVp WHV]L D] HOODS NLMHO]W ', 0 (OV|WpWtWL D] HOODS NLMHO]W $872 ', 0 $XWRPDWLNXVDQ HOV|WpWtWL D] HOODS NLMHO]W '9' OHMiWV]iVDNRU
H I J
+RJ\ HOWQWHVVH D EHiOOtWiV
PHQW YDJ\ YLVV]DWpUMHQ D PHQ NpSHUQ\K|] D EHiOOtWiV N|]EHQ
)HNHWH V]LQW
%HiOOtWMD D NpSHUQ\ IpQ\HUVVpJpW
48$6, 3$/
$ OHPH]WO IJJHQ OHMiWV]KDW HJ\ 176& '9' OHPH]W 48$6, 3$/ ]HPPyGEDQ
$#% &%
5*% 5*% MHOHW NOG D] $9 -$&. 6&$57 WHUPLQiOEyO
$9 FVDWODNR]y 9, '(2 &20326, 7( 9, '(2 |VV]HWHWW NpS MHOHW NOG D] $9 -$&. 6&$57 WHUPLQiOEyO $9 FVDWODNR]y 69, '(2 69, '(2 MHOHW NOG D] $9 -$&. 6&$57 WHUPLQiOEyO $9 FVDWODNR]y
Q\RPMD PHJ D
Ä5(7851´ YLVV]DWpUpV JRPERW
+LEDNHUHVWiEOi]DW
0LHOWW
V]HUYt]KH] IRUGXOQD KLEDNHUHVpV
+LEDMHOHQVpJ
6HPPLO\HQ PN|GWHWpVW QHP OHKHW YpJUH KDMWDQL D WiYLUiQ\tWyYDO
(OKiUtWiV
(OOHQUL]]H D] HOHPHNHW D WiYLUiQ\tWyEDQ &VHUpUH V]RUXOKDWQDN 1H KDV]QiOMD D WiYLUiQ\tWyW PpWHUQpO PHVV]HEEUO 7iYROtWVD HO D] HOHPHNHW pV WDUWVRQ OHQ\RPYD HJ\ YDJ\ W|EE JRPERW QpKiQ\ SHUFLJ KRJ\ D WiYLUiQ\tWyEDQ OpY PLNURSURFHVV]RUW YLVV]DiOOtWVD NLLQGXOiVL iOODSRWiED +HO\H]]H YLVV]D D] HOHPHNHW pV SUyEiOMD NL ~MUD D WiYLUiQ\tWyW
2OGDOV]iP
R
1HP MiWVV]D OH D OHPH]W
*\]GM|Q PHJ DUUyO KRJ\ D OHPH]W FtPNpYHO IHOIHOH WHWWHH EH (OOHQUL]]H D '9' 5pJLy V]iPiW (] D OHMiWV]y QHP WXG &'520RNDW '9'520RNDW &'5W VWE OHMiWV]DQL 7HJ\HQ EH '9'W 9LGHR&'W YDJ\ &'W
R
$] FVDWRUQiV KDQJRW QHP MiWVV]D OH
$] FVDWRUQiV KDQJRW FVDN D] DOiEEL IHOWpWHOHN HJ\WWHV WHOMHVOpVH HVHWpQ MiWVV]D OH $ '9' OHMiWV]y D PHJIHOHO HUVtWYHO YDQ |VV]HNDSFVROYD $ OHPH] FVDWRUQiV KDQJJDO OHWW IHOYpYH
R
(OOHQUL]]H KRJ\ D OHMiWV]DQGy OHPH] UHQGHONH]LNH D Ä'2/%< FK´ MHOOHO D NOVHMpQ
(OOHQUL]]H KRJ\ D] DXGLR UHQGV]HUH PHJIHOHOHQ |VV]H YDQH NDSFVROYD pV PN|GLNH
$ iEUiFVND PHJMHOHQLN D NpSHUQ\Q
$ IXQNFLy YDJ\ XWDVtWiV QHP WHOMHVtWKHW MHOHQOHJ PHUW $ '9' V]RIWYHUH NRUOiWR]]D H]W $ '9' V]RIWYHUH QHP WiPRJDWMD D IXQNFLyW SO OiWyV]|JHN 3LOODQDWQ\LODJ QHP HOpUKHW D IXQNFLy 7DUWRPiQ\RQ W~OL FtPIHMH]HW YDJ\ IHMH]HW V]iPRW YDJ\ NHUHVpVL LGW NpUW
R R
$ OHPH] PHQ QHP MHOHQLN PHJ $ OHMiWV]iVL PyG NO|QE|]LN D EHiOOtWiV PHQEHQ NLYiODV]WRWWyO $ NpSHUQ\ PpUHWDUiQ\ QHP YiOWR]WDWKDWy PHJ 1LQFV KDQJ
(OOHQUL]]H KRJ\ D OHPH]QHN YDQH PHQMH $ EHiOOtWiV PHQEHQ NLYiODV]WRWW IXQNFLyN QpPHO\LNH HVHWOHJ QHP PN|GKHW PHJIHOHOHQ KD D OHPH] QLQFV NyGROYD D YRQDWNR]y IXQNFLyYDO
R R
$ NpSHUQ\ DUiQ\ U|J]tWYH YDQ D '9'Q *\]GM|Q PHJ DUUyO KRJ\ D PHJIHOHO 'LJLWiOLV NLPHQHWHW YiODV]WRWWD H NL D KDQJ RSFLyN PHQEHQ
R R
(OIHOHMWHWWH D MHOV]DYiW
h]HPHQ NtYOL iOODSRWEDQ Q\RPMD PHJ D Ä32:(5´ EHNDSFVROiV JRPERW ~J\ KRJ\ QLQFV OHPH] D NpV]OpNEHQ 1\RPMD PHJ D Ä6723´ PHJiOOtWiV pV Ä3/$<´ OHMiWV]iV JRPERNDW HJ\V]HUUH D] HOODSRQ PiVRGSHUF KRVV]DQ $ NLYiODV]WiV PHQ Q\HOY NLMHO]pV PHJMHOHQLN
R
9iODVV]D NL D NtYiQW Q\HOY JRPEMiW 1\RPMD PHJ D Ä6(783´ EHiOOtWiV JRPERW D WiYLUiQ\tWyQ D V]OL WLOWiV ]HPPyG NLYiODV]WiViKR] $ V]OL WLOWiV PRVW IHO YDQ ROGYD DKRJ\ D NLMHO]Q LV OiWV]LN 1\RPMD PHJ D '2:1 JRPERW D V]OL WLOWiV PHQSRQW
NLYiODV]WiViKR] 1\RPMD PHJ D] Ä(17(5´ EHOpSpV JRPERW pV D MHOV]y PHJDGiVD NLMHO]pV PHJMHOHQLN 0RVW EHiOOtWKDWMD D V]DEiO\R]iVL V]LQWHW pV PHJYiOWR]WDWKDWMD D MHOV]DYiW HJ\ ~M V]iPUD +D HJ\pE KLEiW WDSDV]WDO $ KDV]QiODWL ~WPXWDWyEDQ NHUHVVH PHJ D]W D UpV]W DPHO\ D] DNWXiOLV KLED YDJ\ SUREOpPD PDJ\DUi]iViW WDUWDOPD]]D pV N|YHWYH D] XWDVtWiVRNDW KDMWVD YpJUH D] HOMiUiVW ~MEyO +D D SUREOpPiW PpJ PLQGLJ QHP VLNHUOW PHJROGDQLD IRUGXOMRQ D OHJN|]HOHEEL V]DNV]HUYL]KH]
0&V]DNLDGDWRN
ÈUDP N|YHWHOPpQ\HN ÈUDP IHOYpWHO 7|PHJ $& 9 YiOWyiUDP +] :
ÈOWDOiQRV
NJ 0pUHWHN 6]pO PP ; 0pO\VpJ PP ; 0DJ PP 0N|GpVL KPpUVpNOHW WDUWRPiQ\ & & 0N|GpVL SiUDWDUWDORP WDUWRPiQ\
'9' ', *, 7$/ 9(56$7, /( ', 6& 2OYDViVL VHEHVVpJ IWVHF /HMiWV]iVL LG PHJN|]HOtWOHJ HJ\ROGDODV HJ\UpWHJ OHPH] SHUF &' FP &203$&7 ', 6& 2OYDViVL VHEHVVpJ ± PVHF 0D[LPiOLV OHMiWV]iVL LG SHUF &' FP &203$&7 ', 6& 2OYDViVL VHEHVVpJ ± PVHF 0D[LPiOLV OHMiWV]iVL LG SHUF 9&' FP 2OYDViVL VHEHVVpJ ± PVHF 0D[LPiOLV OHMiWV]iVL LG SHUF NpS KDQJ &RPSRVLWH 9LGHR gVV]HWHWW NpS FVDWRUQiV 9SS " WHUKHOpV 5SLURV 9SS " WHUKHOpV
/HPH]
. pS NLPHQHW
*]|OG 9SS " WHUKHOpV 6FDUW FVDWODNR]y %NpN 9SS " WHUKHOpV gVV]HWHWW NpS 9SS " WHUKHOpV 9LOiJRVViJMHO 9SS " WHUKHOpV 6]tQ MHO 9SS " WHUKHOpV 69, '(2 9LOiJRVViJMHO 9SS " WHUKHOpV . URPLQDQFLDMHO 9SS " WHUKHOpV 6&$57 FVDWODNR]y FVDWRUQiV FVDWRUQiV EDO/ MREE5 %DO/ MREE5 N+] PLQWDYpWHOH]pVL +] ± N+] N+] PLQWDYpWHOH]pVL +] ± N+]
61 MHO]DM DUiQ\
'LQDPLNXV WDUWRPiQ\
7HOMHV KDUPRQLNXV WRU]tWiV G% G%
+DQJ NLPHQHW
)UHNYHQFLD iWYLWHO
1pYOHJHV DGDWRN
W $ 6DPVXQJ (OHFWURQLFV &R /WG D EHMHOHQWpV QpONOL YiOWR]WDWiV MRJiW IHQQWDUWMD W $ W|PHJ pV PpUHW DGDWRN PHJN|]HOtWOHJHVHN [. . . ]