ww . w ) 1

24
ǼȚıĮȖȦȖȒ ıIJȠȞ ȆȡȠȖȡĮwwĮIJȚıwȩ Ƌ ŲƍƋƉƐƅƏƐźƍƅƋ

Transcript of ww . w ) 1

ǼȚıĮȖȦȖȒ�ıIJȠȞ�

ȆȡȠȖȡĮwwĮIJȚı

wȩ�Ƌ�Ų

ƍƋƉƐƅƏƐźƍƅƋ

Ǿ�īȜȫ

ııĮ�ȆȡȠȖȡĮwwĮIJȚı

wȠȪ�&Ɣ

ŠƇƚƏƏŽ�ŭ

ƍƋſƍŽƈƈŽƐƅƏƈƋƙ�ſƁƉƅƆƋƙ�ƏƆƋƌƋƙ

ƔŞƉŽƌƐƙƓƄƃƆƁ�ƏƐŽ�%HOO�/DEV�ŽƌƘ�ƐƋƉ�'HQQLV�5LWFKLH�ƈƁƐŽƊƙ�����������ſƅŽ�

ƐƃƉ�ŽƉŸƌƐƑƊƃ�ƁƒŽƍƈƋſƚ

Ɖ�ƏƐƋ�81,;

ƔŢƑƍŹƕ

Ǝ�ƓƍƃƏƅƈƋƌƋƅƋƙƈƁƉƃ�ƆŽƅ�ƏƐƅƎ�ƈŹƍƁƎ�ƈŽƎ

Ǿ�İȟȑȜȚȟȘ�IJȘȢ�ȖȜȫ

ııĮȢ

<HDU&�6WDQGDUG

����ǻȘȝȚȠȣȡȖȓĮ

����.5�&

���������$16,�&

�țĮȚ�,62�&

����&��

����&��

���������&��

Ȇȡȫ

IJȠ�ȆȡȩȖȡĮwwĮ

Ɣ�Ƌ�ş

źƈŽ��ŠƍŸƔƁ�ƐƋƉ�ƌƃſŽŻƋ�Ɔƚ

ƀƅƆŽ

Ȇȡȫ

IJȠ�ȆȡȩȖȡĮwwĮ

Ɣ�Ƌ�ş

źƈŽ��%XLOG��&RP

SLOH��/LQN�

żůƁ�ŹƉŽ�,'

(��ƘƌƕƎ�ƐƋ�&RGH%ORFNV��ƆƇƅƆ�ƐƋ�ƆƋƑƈƌŻ�%XLOG

żůƁ�ŹƉŽ�ŽƌƇƘ�ƁƌƁƊƁƍſŽƏƐź�ƆƁƅƈŹƉƋƑ��ŸƉƋƅƊƁ�ŹƉŽ�ƐƁƍƈŽƐƅƆƘ��&0

'�6KHOO�LQ�:

LQGRZV��7HUP

LQDO�LQ�0DF��

/LQX[��ƆŽƅ�ƁƆƐŹƇƁƏƁ�ƐƅƎ�ƁƊźƎ�ƁƉƐƋƇŹƎ

Ȇȡȫ

IJȠ�ȆȡȩȖȡĮwwĮ����

Ɣ�R�ş

źƈŽ��ŢƆƐŹƇƁƏƃ

żůƁ�ŹƉŽ�,'

(��ƘƌƕƎ�ƐƋ�&RGH%ORFNV��ƆƇƅƆ�ƐƋ�ƆƋƑƈƌŻ�5XQ

żůƁ�ŹƉŽ�ŽƌƇƘ�ƁƌƁƊƁƍſŽƏƐź�ƆƁƅƈŹƉƋƑ��ŸƉƋƅƊƁ�ŹƉŽ�ƐƁƍƈŽƐƅƆƘ��&0

'�6KHOO�LQ�:

LQGRZV��7HUP

LQDO�LQ�0DF��

/LQX[��ƆŽƅ�ƁƆƐŹƇƁƏƁ�ƐƅƎ�ƁƊźƎ�ƁƉƐƋƇŹƎ

ȅȡȠȜȠȖȓĮ�țĮȚ�ȈȪȞIJĮȟȘ

Ɣ6WDWHP

HQWƔ

3UHSURFHVVRU�'LUHFWLYH

Ɣ%ORFN

Ɣ&RP

PHQWV

Ɣ:KLWHVSDFHV

Ɣ&DVH�6HQVLWLYLW\

ȀȪțȜȠȢ�ǹȞȐĺIJȣȟȘȢ�Ȇ

ȡȠȖȡȐwwĮIJȠȢ

ȀȪțȜȠȢ�ǹȞȐĺIJȣȟȘȢ�Ȇ

ȡȠȖȡȐwwĮIJȠȢƔ

*18�&RP

SLOHU�&ROOHFWLRQ��*

&&�

żȑȞĮ�ıȪıIJȘȝĮ�ȝİIJĮȖȜȦ

IJIJȚıIJȫȞ�ʌ

Ƞȣ�ʌĮȡȐȖİIJĮȚ�Įʌ

ȩ�IJȠ�*18�3URMHFW

żȣʌ

ȠıIJȘȡȓȗİȚ�įȚȐijȠȡİȢ�ȖȜȫııİȢ�ʌ

ȡȠȖȡĮȝȝĮIJȚıȝȠȪ��&��&

����$GD��*

R��ț�Į��ż

ȑȤİȚ�įȚĮįȡĮȝĮIJȓıİȚ�ıȘȝĮȞIJȚțȩ�ȡȩȜȠ�ıIJȘȞ�ĮȞȐʌIJȣȟȘ�İȜİȪșİȡȠȣ�ȜȠȖȚıȝȚțȠȪ��

Ɣ&URVV�SODWIRUPż

ıIJȐȞIJĮȡȞIJ�ȝİIJĮȖȜȦIJIJȚıIJȒȢ�ıIJȠ�/LQX[

żįȚĮșȑıȚȝȠȢ�țĮȚ�ȖȚĮ�0

6�:

LQGRZV��P

DF26

Ɣ0LQ*

:��³0

LQLPDOLVW�*

18�IRU�:

LQGRZV´�

żPLQJZ

����0LQJZ

�Z��

*18�PDVFRW

ȉȚ�İȓȞĮȚ�ȑȞĮ�ȆȡȩȖȡĮwwĮ

ŗƉŽ�ƌƍƘſƍŽƈƈŽ�ƁŻƉŽƅ�ƈƅŽ�ƏƁƅƍŸ�ŽƌƘ�ƋƀƃſŻƁƎ��SURJUDP

PLQJ�

VWDWHPHQWV���Ƌƅ�ƋƌƋŻƁƎ�

ƁƆƐƁƇƋƙƉƐŽƅ��ƏƓƁƀƘƉ��ƀƅŽƀƋƓƅƆŸ�

ȉȚ�İȓȞĮȚ�wȚĮ�ȂİIJĮȕȜȘIJȒ

ƔũƅŽ�ƈƁƐŽžƇƃƐź�

ŹƓƁƅ�ż

ŚƉƋƈŽ

żŰƙƌƋ

żŰƅƈź

ȅȡȖȐȞȦ

ıȘ�ȂȞȒwȘȢ�

FKDU�țĮIJĮȜĮȝȕȐȞİȚ���E\WHVKRUW�țĮIJĮȜĮȝȕȐȞİȚ���E\WHVLQW�țĮIJĮȜĮȝȕȐȞİȚ���E\WH

ȤȡȘıȚȝȠʌȠȚİȓIJĮȚ�Ƞ�IJİȜİıIJȒȢ�

VL]HRI��W\SH!��ȖȚĮ�IJȘȞ�İȪȡİıȘ�IJȠȣ�ȝİȖȑșȠȣȢ�IJȠȣ�Ȥȫ

ȡȠȣ�ȝȞȒȝȘȢ�ʌȠȣ�

țĮIJĮȜĮȝȕȐȞİȚ�ȝȓĮ�ȝİIJĮȕȜȘIJȒ�IJȪʌ

Ƞȣ��W\SH!

ĸȒȜȦıȘ�Ȃ

İIJĮȕȜȘIJȫȞ

YDUBW\SH�YDUBQDPH�

YDUBW\SH�YDUBQDPHB���YDUBQDP

HB������

YDUBW\SH�YDUBQDPH� �LQLWLDOBYDOXH�

YDUBW\SH�YDUBQDPHB� LQLWBYDOB���YDUBQDP

HB� LQLWBYDO�������

ĸȒȜȦıȘ�Ȃ

İIJĮȕȜȘIJȫȞ����

ƔŧŸƄƁ�ƈƁƐŽžƇƃƐź�ƈƌƋƍƁŻ�ƉŽ�ƀƃƇƕ

ƄƁŻ�ƈƘƉƋ�ƈƅŽ�ƒƋƍŸ

ƔũƅŽ�ƈƁƐŽžƇƃƐź�ƌƍŹƌƁƅ�ƉŽ�ŹƓƁƅ�ƀƃƇƕ

ƄƁŻ�ƌƍƅƉ�ƓƍƃƏƅƈƋƌƋƅƃƄƁŻ

ƔũƅŽ�ƈƁƐŽžƇƃƐź�ƈƌƋƍƁŻ�ƉŽ�ŽƌƋƄƃƆƁƙƁƅ�ƈƘƉƋ�ƐƅƈŹƎ�ƐƋƑ�

ƐƙƌƋƑ�ƐƃƎƔ

Ŭ�ƐƙƌƋƎ�ƈƅŽƎ�ƈƁƐŽžƇƃƐźƎ�ƀƁƉ�ƈƌƋƍƁŻ�ƉŽ�ŽƇƇŸƊƁƅ�ƈŹƏŽ�

ƏƐƋ�ƌƍƘſƍŽƈƈŽ

ȆĮȡĮįİȓȖwĮIJĮ�ĸȒȜȦ

ıȘȢ�ȂİIJĮȕȜȘIJȫ

Ȟ

LQW�VXP�

LQW�QXPEHU���QXP

EHU��

GRXEOH�DYHUDJH�LQW�KHLJKW� ����

ȆĮȡĮįİȓȖwĮIJĮ�ĸȒȜȦ

ıȘȢ�ȂİIJĮȕȜȘIJȫ

Ȟ����

LQW�QXPEHU�

QXPEHU� ����

QXPEHU� ���

QXPEHU� �QXP

EHU�����LQW�VXP

� ���VXP

� �VXP���QXP

EHU�LQW�QXP

�� ����QXP�� ���

GRXEOH�UDGLXV� �����LQW�QXP

EHU����V\QWD[�HUURUVXP

� ����������ORJLFDO�HUURUVXP

� �³+HOOR´����ORJLFDO�HUURU

ǺĮıȚțȠȓ�ǹ

ȡȚșwȘIJȚțȠȓ�ȉİȜİıIJȑȢ

ȈȣȞĮȡIJȒıİȚȢ�İȚıȩįȠȣ���İȟȩįȠȣ

ƔȅȚ�ȕĮıȚțȑȢ�ıȣȞĮȡIJȒıİȚȢ�İȚıȩįȠȣ���İȟȩįȠȣ�İȓȞĮȚ�ȠȚ�İȟȒȢ�įȪȠ�ż

Ǿ�ıȣȞȐȡIJȘıȘ�S

ULQWI���ȝİ�IJȘȞ�Ƞʌ

ȠȓĮ�İțIJȣʌȫȞȠȣȝİ�ʌ

ȜȘȡȠijȠȡȓİȢ�ıIJȘȞ�IJȣʌ

ȚțȒ�ȑȟȠįȠ��VWDQGDUG�RXWSXW���ż

Ǿ�IJȣʌ

ȚțȒ�ȑȟȠįȠȢ�ĮȞIJȚıIJȠȚȤİȓ�ıIJȘȞ�ȠșȩȞȘ�IJȠȣ�ȣʌȠȜȠȖȚıIJȒ�

ƔǾ�ıȣȞȐȡIJȘıȘ�V

FDQI���ȝİ�IJȘȞ�Ƞʌ

ȠȓĮ�įȚĮȕȐȗȠȣȝİ�IJȚȝȑȢ�Įʌȩ�IJȘȞ�IJȣʌ

ȚțȒ�İȓıȠįȠ��VWDQGDUG�LQSXW���ż

Ǿ�IJȣʌ

ȚțȒ�İȓıȠįȠȢ�ĮȞIJȚıIJȠȚȤİȓ�ıIJȠ�ʌȜȘțIJȡȠȜȩȖȚȠ�IJȠȣ�ȣʌ

ȠȜȠȖȚıIJȒ�

ƔīȚĮ�ȞĮ�ȤȡȘıȚȝȠʌ

ȠȚȒıȠȣȝİ�IJȚȢ�ĮȞȦIJȑȡȦ

�ıȣȞĮȡIJȒıİȚȢ�ʌȡȑʌ

İȚ�ȞĮ�ıȣȝʌİȡȚȜȐȕȠȣȝİ�

IJȠ�ĮȡȤİȓȠ�İʌȚțİijĮȜȓįĮȢ�³VWGLR�K´�

ż�LQFOXGH��VWGLR�K!

Ǿ�ıȣȞȐȡIJȘıȘ

�İțIJȪĺȦıȘȢ

�ıIJȘȞ�ȠșȩȞȘ

SULQWIƔ

Ǿ�ȖİȞȚțȒ�ȝȠȡijȒ�ıȪȞIJĮȟȘȢ�IJȘȢ�SULQWI���İȓȞĮȚ�Ș�İȟȒȢ��ż

SULQWI�kIRUPDW�VWULQJy��H[SU���H[SU���������

Ɣ³IRUP

DW�VWULQJ´�Ȓ�ıȣȝȕȠȜȠıİȚȡȐ�ȝȠȡijȠʌȠȓȘıȘȢż

ʌȡȠıįȚȠȡȓȗİȚ�IJȚ�țĮȚ�ʌ

ȫȢ�șĮ�İțIJȣʌ

Ȧșİȓ��ȉĮ�ıȣıIJĮIJȚțȐ�IJȘȢ�İȓȞĮȚ�IJĮ�İȟȒȢ�

ŶȀȣȡȚȠȜİțIJȚțȩ�țİȓȝİȞȠ

ŶȂȓĮ�ĮțȠȜȠȣșȓĮ�įȚĮijȣȖȒȢƔ

ĮʌȠIJİȜİȓIJĮȚ�Įʌ

ȩ�IJȠ�ȤĮȡĮțIJȒȡĮ��?��ĮțȠȜȠȣșȠȪȝİȞȠ�Įʌȩ�ȑȞĮȞ�Įʌ

Ȝȩ�ȤĮȡĮțIJȒȡĮŶ

ʌȡȠıįȚȠȡȚıIJȒȢ�ȝİIJĮIJȡȠʌ

ȒȢƔ

ĮʌȠIJİȜİȓIJĮȚ�Įʌ

ȩ�IJȠ�ıȪȝȕȠȜȠ�İʌȓ�IJȠȚȢ�İțĮIJȩ���

��ĮțȠȜȠȣșȠȪȝİȞȠ�Įʌȩ�ȑȞĮ�ȤĮȡĮțIJȒȡĮ

ŶȆĮȡȐįİȚȖȝĮ�Ɣ

SULQWI�k7KH�YDOXH�RI�[�LV��G?Qy��[��

Ǿ�ıȣȞȐȡIJȘıȘ�İțIJȪĺȦ

ıȘȢ�ıIJȘȞ�ȠșȩȞȘ�SULQWI����

ƔSULQWI�k1DPH��V��$JH��G��+HLJKW�����Iy��k*HRUJHy����������

DzȟȠįȠȢ��1

DPH�*

HRUJH��$JH�����+

HLJKW�����

ǹțȠȜȠȣșȓİȢ�įȚĮij

ȣȖȒȢǹțȠȜȠȣșȓĮ

ȈȘȝĮıȓĮ

?D

ȀȠȣįȠȪȞȚ��Ƞ�ȒȤȠȢ�ȝʌȚʌ�

?Q

ȃȑĮ�ȖȡĮȝȝȒ

?W

ǻȚȐıIJȘȝĮ�ȝİIJĮȕȜȘIJȠȪ�ȝȒțȠȣȢ�ȝİ�ıIJȠȓȤȚıȘ�

ȠȡȚȗȩȞIJȚȠ�WDE

??

ǹȞȐıIJȡȠijȘ�țİțȜȚȝȑȞȘ

?y

ȅ�ȤĮȡĮțIJȒȡĮȢ�İȚıĮȖȦ

ȖȚțȫȞ

ȆȡȠıįȚȠȡȚıIJȑȢ�wİIJĮIJȡȠĺȒȢȆȡȠıįȚȠȡȚıIJȒȢ

ȈȘȝĮıȓĮȂİIJĮIJȡİʌ

ȩȝİȞȠȚ�IJȪʌȠȚ

�F

ǹʌȜȩȢ�ȤĮȡĮțIJȒȡĮȢ

FKDU

�G���L

ȆȡȠıȘȝĮıȝȑȞȠȢ�įİțĮįȚțȩȢ�ĮțȑȡĮȚȠȢ

LQW��VKRUW

�OG

ȆȡȠıȘȝĮıȝȑȞȠȢ�ORQJ�įİțĮįȚțȩȢ�ĮțȑȡĮȚȠȢ

ORQJ

�I

ǻİțĮįȚțȩȢ�ĮțȑȡĮȚȠȢ�țȚȞȘIJȒȢ�ȣʌ

ȠįȚĮıIJȠȜȒȢIORDW��GRXEOH

�V

ȈȣȝȕȠȜȠıİȚȡȐ�ȤĮȡĮțIJȒȡȦȞ

ĨșĤĮȏȞ

ĩșȡ�FKDU

�X

ȂȘ�ʌ

ȡȠıȘȝĮıȝȑȞȠȢ�įİțĮįȚțȩȢ�ĮțȑȡĮȚȠȢXQVLJQHG�LQW��XQVLJQHG�

VKRUW

�OX

ȂȘ�ʌ

ȡȠıȘȝĮıȝȑȞȠȢ�įİțĮįȚțȩȢ�ORQJ�ĮțȑȡĮȚȠȢXQVLJQHG�ORQJ

Ǿ�ıȣȞȐȡIJȘıȘ�İȚıȩįȠȣ�Įĺȩ�IJȠ�ĺȜȘțIJȡȠȜȩȖȚȠ�

VFDQIƔ

Ǿ�ȖİȞȚțȒ�ȝȠȡijȒ�ıȪȞIJĮȟȘȢ�IJȘȢ�VFDQI���İȓȞĮȚ�Ș�İȟȒȢ��ż

VFDQI�kIRUPDW�VWULQJy��H[SU���H[SU���������

Ɣ³IRUP

DW�VWULQJ´�Ȓ�ıȣȝȕȠȜȠıİȚȡȐ�ȝȠȡijȠʌȠȓȘıȘȢŶ

ʌȡȠıįȚȠȡȓȗİȚ�IJȚ�țĮȚ�ʌ

ȫȢ�șĮ�įȚĮȕĮıIJİȓ�Įʌ

ȩ�IJȠ�ʌȜȘțIJȡȠȜȩȖȚȠ

ƔȠȚ�İțijȡȐıİȚȢ�H[SU���H[SU�������ʌ

ȡȠıįȚȠȡȓȗȠȣȞ�įȚİȣșȪȞıİȚȢ�ȝȞȒȝȘȢ�ıIJȚȢ�ȠʌȠȓİȢ�

șĮ�ĮʌȠșȘțİȣIJȠȪȞ�ȠȚ�IJȚȝȑȢ�ʌ

Ƞȣ�șĮ�įȚĮȕĮıIJȠȪȞ

ƔȘ�Įʌ

ȜȠȪıIJİȡȘ�IJȚȝȒ�ȑțijȡĮıȘȢ�İȓȞĮȚ�Ƞ�IJİȜİıIJȒȢ�įȚİȪșȣȞıȘȢ��ĮțȠȜȠȣșȠȪȝİȞȠȢ�

Įʌȩ�IJȠ�ȩȞȠȝĮ�ȝȚĮȢ�ȝİIJĮȕȜȘIJȒȢ�

żİʌȚIJȡȑʌ

İȚ�IJȘȞ�ĮʌȠșȒțİȣıȘ�IJȘȢ�IJȚȝȒȢ�ʌ

Ƞȣ�įȚĮȕȐıIJȘțİ�ıIJȘ�ıȣȖțİțȡȚȝȑȞȘ�ȝİIJĮȕȜȘIJȒ

Ǿ�ıȣȞȐȡIJȘıȘ�İȚıȩįȠȣ�Įĺȩ�IJȠ�ĺȜȘțIJȡȠȜȩȖȚȠ�VFDQI�

���ƔȆĮȡĮįİȓȖȝĮIJĮż

VFDQI�k�Gy�DJH��

żVFDQI�k�Iy�UDWH��

żVFDQI�k�G��Iy�DJH��UDWH��