Download - Historical Roots of the Nonprofit sector in France · 2017. 1. 28. · Historical Roots of the Nonpro t sector in France Edith Archambault To cite this version: Edith Archambault.

Transcript
  • Historical Roots of the Nonprofit sector in France

    Edith Archambault

    To cite this version:

    Edith Archambault. Historical Roots of the Nonprofit sector in France. Non-profit and Voluntary Sector Quarterly, SAGE Publications, 2001, 130 (2), pp.204-230..

    HAL Id: halshs-00118626

    https://halshs.archives-ouvertes.fr/halshs-00118626

    Submitted on 5 Dec 2006

    HAL is a multi-disciplinary open accessarchive for the deposit and dissemination of sci-entific research documents, whether they are pub-lished or not. The documents may come fromteaching and research institutions in France orabroad, or from public or private research centers.

    L’archive ouverte pluridisciplinaire HAL, estdestinée au dépôt et à la diffusion de documentsscientifiques de niveau recherche, publiés ou non,émanant des établissements d’enseignement et derecherche français ou étrangers, des laboratoirespublics ou privés.

    https://hal.archives-ouvertes.frhttps://halshs.archives-ouvertes.fr/halshs-00118626

  • ���������������� ������������ ����� ������������ �!��"������ �#� �$%�&��'�

    (*),+.-0/2143657/�8:9=@?.-BADCE3GF,HJIDKLKMFD3N8O-PCQ8R36+0KGSMT�FD3B;UFWVXV@IZY[V�+]\�IO3MKG+.-0^

    _!`7a]bdcfegcfh6ikjli0amhnbkjpo"jliqeMrMhsjl`7ht`7a]bujpo7iuvwo>xEjl`7htyRo>yzc7iJo>xla{j|o>ip}fegy7a~Lejpamo7y:bNamy#iqeMy7rLhOD#iqhgyfrM``7a]bljpo>i0aeyfbs`ReGhtfhLhMy2o>iqh4ayLjphgiqhnbljphMamyjl`7h4o7i0a}fa.y:b*o:x|rMegcfa{jpeM.a]bq�jl`Reyyzc7iqo7xua{j[bhMrjpo7i$ko7iqhM*enb4x0egienb"jl`7h o>ihiqhGrnh6ynj"cfh6iao:a.bwrMo7y7rMhgiqyRhM7sxlh e6iqrM`7ahLbofxyRo>yzc7iqo7xua{j!o>ip}fegy7am~Lejpamo>yDbU`7egfhbqo"xlegiPfhGhyZhg7cfmo>ihM"egy7taj�ab�jl`7hdiqhMeObqo7ys`OvthdiqhMv"eMamy:mvZo>yjl`RhQo7i0o7x,`7a]bujpo7i0ameMy:bblr`eOb, o:m.e¡jp>¢d}Om`7o:yR:£¤hLbqamyf7¥soOhMm.hG>¦UhM.7amy"eMy7"bqofrMameM,bqrMa§hMynjpa.bujqbblrM`enb�_�o:rG¨nhfam.§hMOXoRrGeDjJ

    ©�h2`7am}f`7.am}:`Ljxlai¡bujNjl`OiqhMh[mo7yO}fªjphgip�jliqhgyR:b«`7a.rM` `7egfh2oWbljtbljliqo>yz}7v�amy7x0hyfrGhM¬jl`fh7h¡fhMmo7c:hMynj@o7xWjl`Rhky7o7yOc7iqo7xla{j�bqhMrjpoOi#jl`OipoRf}7`RoRzjXa{jqb�ta§.§hMy7y7a§ef`7a]bujpo7iuvWª$jl`7h%b0vbujphMejpamriqhnbljliarjlamo7yDb�o7y�yRo>yzc7iqo>xla{j®o7i0}fegy7am~Lejpamo7yDb�a.cfoDbqhM¯7v�e°rMhMynjliegma~zhM�eMyRamyLjphgi0fhMynjpamo7y7ablj�bujpeBjphknfi0amyO}sjl`Rht±6²7³,±6ªg±6³7´,±cfhgi0amof:µª¶jl`Rh·hGegiqv4bJhMr¡D§egiqam~Lejpamo7yto7x¶jl`Rh·y7o7yOc7io>xla{jEbhMrjpo7i�amy"egyo:mrMejl`Ro>ma§rsrMoOfynjliuv4µfnhkjlosjl`7hk#iqhgyfrM`¸|hgfo7{7jpamo7yªDjl`7hdamy7xuhMyfrMhdo7x,amfhMo7mo>}7veyRo>xDjl`7hdamynjphMm§hnr¡j]e§bqfegy7hnbpcDhMrMa§eM.mvo:xDjl`RhQ7jlo7c7ameMytbqofrMameM.a]bqeMyRbo>ma§7egiqa]bq:o7y·jl`7hQ*`7o7§hs¹BbqofrMameMDhMrGo>yRo:sv#¹q:amhdrGo:oOcfhgiejlafhnb:·7j]eM]b�egy7eObBbo:rMame¡j0amo7yDb¡

    _�`7hMyshsoR7jlmamyfhkjl`7hs`7a]bujpo7i0amrMeMDfeLrg7}7iqoO*y7to7x,jl`7hd#iqhMy7rM`tyRo>yzc7iqo:xla{jEbhLrjlo7iPamyjl`7h"±6³«jl`teMyRtºf´jl`rMhgynj]fipamhOb�eMy7«amyfbqablj@o>y·jl`RhkoDbujXiqhMrMh6ynjXcfhipamo:D

    »U¼�½k¾¿sÀÂÁÄÃÅNÆÇÁEŷÿNÈ«É

    »J¼¡ÊËDÃÌqÍnÌqΧÏBÐ4Ñ:ÒGÓMÔDÌqÕgÍOÖ§Î×ÍOÌqÎ.Ø7Ô4Í7Ô#ÙÌÚ¶ÓÛÔ#Ø7Ô¶Ü#Õ6ØOÝ0ÎmÌ�ÏBÓMÒ6ÌqØ7Õ

    ޤߧà7ß.ámâ¡ã a§bPyRot7oO7Oj#jl`7hdoDbuj@acfo7ijpe6ynjXx0hGej]fiqhdays#ihyRrM`«`7a]bljpo>iuvz_!`fhdta§.§hMy7y7a§eyx0am}f`njo7x¶jl`Rh·rGhgynjliqeMXäOjpeåjphNeg}fegamyDbuj!egyOvxlo>iqÂo>x�o:rMeMDcfoOhgiPa]bUej#jl`7hdipo7onj�o7x¶jl`Rh|Wiqhgy7rM`rMhMynjliemam~Lejpamo7y#xpa}f`nj!eg}feMamy:buj�xph7eM#o7iq7hgiqeg}feMayfbujXfiufeMy"rMa{jpa~zhMy:bJæMo7i0}fegy7am~Le¡j0amo7y:bÄnfiqayz}tjl`7hk  a§7>§hs¢d}fhnbqDx0am}f`nje6}feamyDbljkihg}7amo7yfe�}foOfhgi0y7hMynjqb¤eyRiqhM.am}:aoR#bNtamyRo>iqa{jpa§hnbNnfiqamy7}wjl`Rh"ç·§w¸|hg}fa.hMPxlam}:`Lj|eg}feMayDbljjl`RhèQ`LfiqrM`$eMy7 a{jqbtyRo>yzc7iqo7xua{j*e6c7cDhMy77a§rMhnbeMy7 eg}feMamyDbujN}Oa.§:bnfiqamy7}2jl`fh�#iqhMy7rM`2¸|hgfo:7j0amo7y7xpa}f`nj!eg}fegamyDbuj#jl`Rh·megfo7iPoR>hhMynj!egy7cfo:ma{jpa.rGerM:bEnfiqamy7}«jl`Rh±6³njl`rMh6ynj]fiuv7_�`7h·§ahgiqeMD§e"b

  • e¡jkjl`7hhyR$o:xkjl`7h ±6³njl` eyR$ejdjl`7h"hg}:amy7y7amy7}®o>xkjl`Rh�ºf´njl` rMhMynj]fiuv egip ej]fi0y7amyO} cfo:amynjå,jl`7hyRo>yzc7iqo7xua{jbhMrjpo7iPa]bUy7o"mo:yO}fh6iEa.§.h6}feWO7j�amysjl`fhd}7iqoRayz}4rMhMynjliqe6am~zhM�bljpejphgfy7h°xlo7iqtbo7xEbqofrMameMo7i*hMrMo7y7o7«a§rrGo>yRrMhgiqy:begiqh�fhMrGo:ay7}$cO7f§a§rrMo7yfrnh6i0y:bN`7a.§hebljliqo7yO}2hmxlegihbujpejphhghgi0}fhMeMx.jphgi,© ©����Pamy·WiqeMy7rLhdenb�amy«eMyOv��Pfiqo7cfhMegyrMoRfyLjli0a§hnb¡

    ä:amy7rMh2jl`7h bqaOjpa§hRb¤jl`7h2j]ihgy7a]b"jloo7iqh�¹ea]b¡bhg~ xpea iBhz¹eMy7�c7ia>ejph�amy7a{jpa.e¡j0afhzQ  o7iqhe¡j.jphgyLjlamo>y}feBjlahnb�o>x�jl`7h rLhMynjliqe6%}foOfh6iy7hMynj�jlo jl`Rh hyRhMxua{j o:x�o:rMeM&rMo:·y7a{j0a§hObq7hGrMhMynjliqegmam~zejlamo7y[`7eght}:ahMy�egvjpo2etcfegi]jly7h6iBb0`7amc>hj]hMhMyyRo>yzc7iqo7xua{j|o7i0}fegy7a~zejlao>yDbNeMyRmofrMeMe¡7jl`7o7i0a{jla§hnb¡

    »J¼��4Ë,ÉÓMÒ��DÖ§Í7ÕkÏÌÍOÌqÓdÍ7Ô#Ù�ÒMÍOÌpÚ#ØOÖ§Î.ÒdÒMÚ��#ÕgÒGÚ

    #iqeMy7rMh `Renb[eMegvDb>hMhMye rMe¡jl`7o:ma§r rMoOfynjli0vW XiqegyRrMh eOb[e yfejlamo7yfhg}famyDba{jl` jl`fhrGo>yLfhgiBbqao:yfa]bq!jl`Rh�§hMeM7hgi*o:xjl`7ht#iqeMyO#bq!jowjl`RhZ¸|o7eMy2rLejl`Ro>ma§rxleMa{j0`�¢sb¤jl`Rh¹JhM§7hnbuj7e¡f}7`njphgiNo7xEjl`7h4èQ`nfir`¹q@jl`Rht:amy7}f7o:�ofxQ#iqeMyRrMheM7o7cnjphM[èejl`Ro>ma§rMabq enbdjl`7häOjpejphtiqhgmam}famo:yD�@egiqa.bq`RhObeMy7"rMo7yO}7ihg}fejpamo>yfbPh6iqhsejXjl`7hso7i0a}famy4o:x,jl`7hso¶bljUegy7rMa§hMynjUrg`Regiqa{jpa.hLb6>ih§a§hx�jpo«jl`7hNcfo7oOixpeMta§v®eMy7 rM`7a§.Oihy®7hMxlhMy7rMh.bZeMy7 onjl`RhgihGnrMejlamo7y eMy72iqhnbhMegiqrM`¬o>i0}fe6y7a~zejlao>yDbå��oOh>hgiqPfy7.amfh£NhgiqeMyOvf��|hm}faD�o7i��th¡jl`7hgiqmhMy7:bWiqeMy7rMh7a§yRoRj*7h¡fhMmo7c ejliqeMOa{jpamo7y$o7xdc7iqae¡jpheMrjlamofy$eMy7 bufDbqa§7a.e6iajuv¬ay�b0cfa{jpho7xkjl`fhbljliqo>yz}amyfxuWhMy7rMh�o:x jl`Rh�èQ`nfir`��pyDbujphMeM72h�oRbqhgiu>h&jl`Rej�fhgi0v hMegiqvR hLb0cfhMrMa§eM.v�nfiamy7}�jl`7h¸|hgfo7{7jpamo7y7Ojl`7hdrMhgyLjliqeM7}foR>hgi0y7hMynjXiqhgc7§eMrGhM·jl`7hdèE`nfiqrM`amy`7oDb0cfa{jpeM.bqfenb0vfD"b�eMyRZbrM`7ofo>]b¡

    _!`Rh·rMo7y:bhM¨nWhyRrMhNo:x¶#ihyRrM`���jpejla.bq°a]bUesÕ6Ó��#ÓLÕ6Ï¡Ó·Ï����#ÏBΧÙ#Î.Í7Õ6ÎÌ �ܶÕ6Î.Ô#ÒMΧ֧ܶÓ7njl`7hNy7o7yOc7iqo7xuajbhMrjpoOik*`7hjl`RhgidiqhMmam}:amoO#bNo7isbqhMr¡Dme6iN7hMeMbÛa{jp`cO:f§a§r"rMo>yRrMhgiqy:bÛ`7a§r`wegiqh"oOfhgiqmofo>fhG7v4jl`7hbljpeåjphz:_�`7h"¹qhM§7hnbujÄ7ef}7`Ljphgio7x!jl`Rh«è`nfiqrM`¹ÄenbÛay7hMhM4eM]bqotjl`7h«xlai¡buj�johgeMyRramcfejphz,ä7amy7rMh·jl`7h�Uy7mam}:`Ljphgy7hyLjcfh6iao:7eåjl`Rha]bq o>i[x]iqhMh�jl`7amyOfamy7}}7iqh o>ih ¨namrgfvjl`ReMy�eyOvz`7h6iqh�h]bhO�oOeM7egvfb#iqeMy7rMhta]bEjl`Rh!��fiqo7cfhMegy4rMoOfynjli0v`fhgiqhiqhMam}famoO#bÛoR#bhgiueMy7rMhObÛegih*jl`Rh«moOhnblj � ±#"%$o7xDjl`7hdeMn{jXc7o7cOfmejpamo7y%��egyRtbujpejphMeBjl`7hMa]bqOjl`7hk`7am}:`RhObuj � ±�&%$'�B

    _!`ziqoRf}7`RoRzjPjl`Rh«cfenbljp�onjl`7hgiÛiqhgmam}:ao:yDbQhgiqhhMa{j0`RhgiQjpo7mhgiejphMo7iQ>egy7y7hMD#_�`7hthMa}7iej0ao>yo7x2oWblj��Xiponjphnb]jpegynjqbegx.jphgijl`Rh)(*,+.-/*,021�3�45-6087®¸dhg>o:rMe¡jlamo>y � ±#9�:;� a§x0xphgiqhMy7rMh·jpoOe6iqtiqhMma}famo:y4amy"}fhMy7hgiqeMl@��fhMytjl`RhihMrMhMynjUi0a]bqho7xa]bq§eMta]bJamy«#iqeMyRrnhd`7eObUrM`7eM.§hMyO}fhGjl`7hk#iqhMyRr`"bo:rMa§hj]vo7iqh|jl`Regysjl`7hNèQ`LfiqrM`D7_�`7hNrMo7scfhjpa{j0ao>y

  • eMo7yO}[iqhM§a}famo:yfbN`7eObNy7oOjQ>hMhgy[eMy[amyfrMhMynjpafh«jpo�jl`7htyRo>yzc7iqo>xla{jNbJhMrjpoOiPenb|a{jÛ`7eObdfhMhMy[amy2¢NyO}fmo:ªäfe>o>yrMoRfyLjli0amhOb¡

    �oOh¡fhgiq·jl`Rh rGo>scfh¡j0a{jpamo7y >hj]hMhgyjl`7h�rMe¡jl`7o:ma§rrg`LfiqrM`�egy7�eMy�eMrjpafh�ejl`7hMa]bq o7ie6ynjpamrM.h6ia§rMeM§abq�eObqfamh·amy �ujpegvfDe6ythLb¡bqhMynjpameM#xlhne¡j]7iqhQjl`ziqoRf}7`RoRzjDjl`7h"±6³njl`rMhgyLj]fiuveMy7"bujpam#`7eObe6y a.cfeMrj«o>y2jl`Rhy7o7yOc7io>xla{j"bhMrjpo7iB_�`7h ¹Bbqrg`Ro:o7ke6i¡¹«fh¡j]hMhMy®rMejl`Ro>ma§r2eMy7 ¹ua{jp`7oO7j}7ofD¹brM`7ofo>.b`7eObamyf7hMhG fhMhMyrGo>yfbujpegyLj4ay�#iqeMy7rGh¬jl`ziBoOf}7`7oOOjjl`Rh ±6³njl` egyR jl`7h$ºf´njl`rGhyLj]fi0amhOb¡_�`7oOf}7`7hMrM§ayfamy7}f:a{j@rMo7ynj iqenbujqbXsa{jl`Njl`7hkcfhLeMrMhMx]DfiqhM§ejlamo7y:bq`7amc«>hj]hGhyNjl`7hdèQ`LfiqrM`eMy7·jl`7hsbujpe¡jphamy·jl`Rh¤xpa.hM§o>x#`RhneM{jl`eyRtbqofrae7h§x0e6iqhO

    ä:amy7rMh·jl`Rh!�abJhLbujpef§abq`fhMynjÄo>x�jl`7hèQ`LfiqrM`�amy$±6³7´:R¶iqh6am}famo:y4a]bdesc7iqafejphrMo7y7rMh6iyD_�`7aubh¡7cf.eMamyDbk`Ov"jl`Rh«#iqhMy7rM`yRo>yzc7iqo7xua{j|bqhLrjlo7ika§bq�hgfrMhMcOjxlo7iiqhMma}:aoRXb·brM`7ofo>]bqPbhMr§egiq�rgyLjliqenbujlamyz}a{jl`·jl`7hkcfam.§egiqam~Lejpamo7ytb0vDbljph�o7xX£·h6ieMyOvo>i��håjl`Rhgi0§eMy7Db¡

    »J¼��4Ë#ÁÚ¶ÓÛÎ.ÔDÝlÖ �#ÓMÔ#ÒMÓdØOÝ@Î.Ù#ÓMØOÖ§Ø�� �ZØ7Ô�ÏJØ7ÒMÎ.Í7ÖÓMÒMØ7Ô#Ø7Ð/�XË��NÌqØ7Ü#Î.ÍOÔÉØ7ÒMÎ.ÍO֧ΧÏBЯÍ7Ô#Ù4ÏBØOÖ§Î.Ù#Í7Õ6Î]ÏBÐ

    ¢�bujlio>yz}�bqofrga§eMmablj,jliqeGOa{j0ao>yabUejXjl`7hNo>ipa}:amyo:x@e¤}7iqhLej@cfegi]j�o7x¶jl`Rh±6³njl`rMh6ynj]fi0vy7o7yOc7iqo7xuajbhMrjpoOi¡��0y4rGo>yLjliqenb]jP*a{jl`tjl`Rh* ®e6iufa]bujamy7x0hMy7rMho7ytjl`7h.eg>o>ioOhMthMyLjpWOjo>c7aeybo:rMa§eMmabJ%enbo>iqhNayfx0hMynj!o>yrMofo>cfh6iqeåjla>hnbqDs7j]eM:hMy7hMxuajbqofra§hjlahRbUeMy7"eMyOv"oOjl`7h6iEenbJbqofrMa.e¡jlamo>yDbå��Njpo>c7ameMybo:rMameM§abq xloOf}:`Lj4hjpeBjla.bq eMy7 rMhMynjliqeMmam~Lejpamo>y eg}eMamy:bujjl`7h�eMamyDbujliqhGeseMy7 «enbamyxpeG>o>io7xs7j]eM bqofrMamhjpamhObq bqhMmx0ªp7hjphgiqayfe¡j0amo7y eMy7 x0hG7hgiqeM.a]bq4�äfeMamynjÂä:amofy72XoRfipa.h6i�egy7 o¶bujlv�XipoRO`Ro>yNhgihÄjl`7hdoDbujXoOOjqb]jpegyR>amyz}tamynjphMm§hnr¡j]e§bEo7xDjl`7a.b,jliqh6y7D

    ç¤y·jl`RhQj]fi0yo7xDjl`7hkºf´njl`rMhMyLj]fiuvRR*`fhMy·jl`7hdof7hgi0yy7o7yOc7iqo7xla{j�bJhMrjpoOi�egyRZbo:rMameMhMrMo7y7o:ve6c7cfhMegiqhM7Djl`7ho7xuxla§ra§eM�7ofrjli0amyRh«ofx!jl`Rh«_�`7amiqt¸dh6cO:f§a.rGWjl`7h·hgi0v">eRbqa]bÛo:xUa{jqbdbJhMr§egiÛhjl`7a§rnbEeOb7�� + *�3���+67�"X_�`7htc7iqamyframcf§h"o>xdbqofa§7egiqa{jlvyReM.h"ofxamyfrMofh·iqhM7a]bujli0az7j0amo7yDµeMo>yz}tjl`7h·hMshgi¡bUo:x�e·c7io>xlhnb¡bqao:y7eMD}7iqoOfcfDa{j,enb�jl`7h��0#bujpamxua§rLejpamo7ytofxs7j]eMOhMy7hMxla{j�bqofrahj0ahRbå

    ç|7famoO#bqv>!jl`7h6iqh�e6iqhwbljli0o7yO}}famrLeMPc7iqamyfrMacf§hnbe¡jEjl`7h"iqo7onjÛo7xQjl`RhyRo>yzc7iqo:xla{jsbhMrjpoOie6y7to7iqhk}fhMy7hgie§vofxWjl`Rhbo:ªprMeM§hM"bqofrMameMDhMrGo>yRo:sv"eMyR«y7oOeM7egvDb,h·rGeyx0amyfhMa{jp`7hgiUrMejl`Ro:ma.ro7iPbo:r6ameM.a]buj��pbqo7a§7egiqa]buj@amy:b0cfamiqejpamo7y«amyeMyOvy7o7yOc7iqo7xla{j@o>i0}fe6y7a~zejlamo7yDb�o>i#fs7iqhM.§eOb¡

    »J»�¼ZÁ��tÃ���ŷÿ����Ç¿s¾¿���Å*¾���»¡Á�ÉfÃ��·Á¾«Å�È��NÅN»B¿*À Ê��7Á�� �¤Ã¿Á��NÅ�!#"*¿·È�Á��"Ã��»JÅ«ÉÁ$��"*½%�

  • xlo7i0c7iqo7xla{jdbqhGrjpo>ipWjl`Rh�¹qegi0fhjdbo:r6amhjlv#¹q¶*`7a.rM`4c7iqo7}7iqhnbBbqahMvwhMhgi0}fhMamy�jl`7ht§ejphs  am77.ht¢N}fhnbe6y7ejDjl`RhQfhg}famy7y:amy7}o>xDjl`RhQ¸dhMyRea]b¡beyRrMh � �Ûiqe7hM�±G³7²7³%�¡

    �0y WiqeMy7rLhM"enb¬hgfhgi0vO`7hgiqhamy �Pfio>cfhMsjl`7h j]*o�c:am§.e6iBb$ofx�jl`7hbqofrae"c7ioRjphMrBjlamo7yofxamyf7aDa§neM]b"eg}feMamyDbujc7iqoR>hgi]j]v®eyR a..y7hnb¡bZegc7cfhMe6iqhL amy$jl`7h  am7>§h2¢d}fhObwQo7y o>yRh`feMy7$jl`7hr6`7egiqa{jpegf§h2o7i0}fegy7am~Lejpamo7y:b"§amy7fhMjpojl`Rhcfegi0a]bq`RhRbZoOisjl`7h2o7yfenblj0amri7hgiBbqk`RoWbpc7a{jpeM]bqdenb0vfbo7i0c7`Regy7eg}fhObQo7yjl`RhoOjl`7hgis`ReMy7jl`7h[rM`7e6iajpeGf§h�7ioRjl`Rhgiqªu`Ro7o::bmamy7fhMjpojl`7h4}ODam§WbN`7a§rM` egiqhfa§hhM4eObÛeyRrMhObujo>iBbÄo>xUx]ia§hMy77veMyR�·7j]eMPbo:rMamhjla§hOb¡_!`Rhs}ODam§:bEjl`7hM"bJhMhLbÛegiqheMy7rMhObujpoOiJbÛo>xjlieM7hMªfyzamo>yDbh2rMaDa]bo:rMamh¡juvNeLb�o>yRhdo>xDjl`Rhdrg`7egieMrjphgiqa.blj0amrOb�o7xDjl`7h�Uy7ma}f`OjlhMynj��@hgi0ao:D

    _!`Rhw#iqhMyRr`$¸|hgfo:{7jpamo7y a]b«jl`Rh}7iqhGej·RiqhMeg�amy$jl`7h`7a]bljpoOiuv®o:x·jl`Rhy7o7yOc7io>xla{j"bhMrjpo7iB �jxpa}f`njphGZjl`Rh}Oam§Wb,eMy7tjl`7hMami·bo:rMameMEbufDbqa§7a§egiqa.hLbqWjl`fhs7iqonjl`Rhgi0`Ro:of:bqXenbE7iqe6fhjpo�x]iqhGh«hMyLjphgi0c7i0a]bqhe6y7x0eMai[rGo:scfhjpa{jpamo>y � �hMrgiqhj7æ ¢N.§egiq7hG«egiqrg`�±6²7³,±6�*Uo7a�*Uh è`7egchMa§hgi+�uyfh�±6²7³,±��¡N_�`7hbljliuf}7}7mhNeg}feMamyDbuj,jl`Rh·r6`nfiqrM`eMy7trGo>yz}7iqhg}fejlamo7yDb�`feM«a§cfo>i]jpegynj!rgo7y:bhM¨nhMy7rMhObUo7yjl`RhMaiErM`Regiqa{jpegf.ho7i0}fegy7a ~Lejpamo>yfbk`7a§rM`�hgiqh"hMa{jp`7hgiNrMmoDbqhM[o7idy7ejpamo7yfeMam~LhG`7a.§h«jl`7h"rM`nfir`fæ bdc7io>cfhgilj]v[eMy7iqhGehLbujpejphQenbEbha ~LhMDzèQo7yOfh6iBbqhMv*jl`7hkc7iqamyframcf§hdo>x#cOff.a§rkc7iqaegi0vhGnrne¡jlamo>yeMy7·jl`Rhkiqhnb0cfo7y:begfa..aj0vo7xE}foOfhgiqy7hMynjÛamyjl`RhthgieM>a§rMe¡j0amo7yo:xhgOjliqhMhcfoR>hMiuj]vegiqh"bujpejphMD � ��Pegm ±6³ 9%�¡�7jÛenbdyRoihMeMDbqofraefcfo7a§rMa§hObPxlofoRhM·jl`7hnbJhkc7iqamy7rMamcf.hLbq7c7ia>eGjphLb�c7`7am.eMyLjl`Oiqo7c>vNenb�eg}feMamyrMeM.§hMxlo>iå

    �0y�±�#±6´ �Zegcfo:mhMo7yfæ b2cfhMyReZrMof7h bljpejphMjl`7ej¬¹qegyOv'enbBbo:rMa§ejpamo7y�o:xoOfh6iºf´chgiBbqo7y:b*`7e¡jphhgi�a{jqb�cOfi0cfoDbqhMfrMegy7yRoRj#>hdrgiqhMejphG**a{jl`RoR7jDjl`Rhk}foR>hgi0y7hMynjpæ b�eg}7iqhMhMhMynj@egyR«s#bujXiqhnbpcfhMrjjl`RhrMo>yR>aj0amo7y:b|acfoDbqhM"7v4cO:f§a.re7jl`Ro>iqa{jpamhnb6¹¡_!`7a]biqhObljli0amrjpafh«§hM}fabq§ejpamo7y7XhG>hMy"iqhMay7xlo7iqrMhG�amy±� "%&fDmeLbujphMsjl`OiqoOf}7`7oOOj#jl`7h"±6³jl`ZrMhMynj]fiuvjpamfj0`Rh±G³7´,±k¢*rj�}fe¡fhse«bljlam.§ª0hgfa]bujpayz}"§hg}DeM,bljpej]#b�jloyRo>yzc7iqo7xua{j@o7i0}fegy7a~zejlao>yDbå

    »J»B¼¡ÊË " �DÎ.Õ6Ù��mÏEÓ��Ó�ΧÓ���ØOÝUÊ��sÌqÚ"ÒMÓMÔDÌ �#Õ �"Ô#Ø7Ô4Ü#ÕgØOÝpÎÌqÏJÓMÒgÌqØfÕ

    �0yRn#bujliqameM.a]bej0ao>y4eMy7tfiu>ey7a]bJejpamo7yb0c7iqhGeM�amyWiqeMy7rLho>y4esmo7yO}fhgicfhgiqamoftjl`7egy4hM]bJh`Rhgiqhamy �Pfio>cfhMDa{jl`4e"bqmoRhgiÛfho>}7iqe6c7`7a.r}7iqoO·jl`�0yRn#bujli0ameM§a~ej0ao>yeMy7tfi>eMy7abJe¡jlamo>y.hGeMjlo"jl`7hcfe¡fcfhgiqa.bJejlamo7y"o7x�e¤}7ioRamyz}«o>i07amyz}4r§enb¡bå%�0ysjl`fhNeGbJhMy7rMhNo:x�§egfo7iPiqh6}ODme¡j0amo7y:b¶bqa§rM:yRhnb¡bq>o7i0eGrMrMam:hMyLjqbÛegy7tDyRhM«cfmo>vfhMynjÄmhMeMtjpohzjliqhghsc7iqoOfhgiljuv@�hnbpc:a{jph·jl`Rhc7io>`7afa{jpamo:y4o:xUrMofeMaj0amofy:bqs7j]eMkbo:rMamhjpamhObqEoDbuj¤o>x`7a§rM`hgiqh�§ay7fhGjpo$e"r§eMy77hLbujpayRh.eg>o>isoR>hhMynjpbufiufahM$a.yrMmeMyR7hRblj0amyRh�y7hj]oOi0Dbåk_�`7hgv�c7iqoOfa§7hMo:yRhgv jpo jl`Rh¬fyRhcfmo>v>hMeMy7 jlo jl`7h bujli0afh6iBbo>y es7j]eMmª0eMa§·feObqa]b¡

    _�`7a]bc7iqo7`7aDajphM�y7o7yOc7iqo7xuaj�bhMrjpo7ir6o>yLjliqenb]jqb�a{jl` eMy�e7jl`7o7i0am~LhM�o7y7hz �·fiqamy7}�jl`7hrGo>yfbujla{j]7jlamo7y7eM�o:yRegiqrM`Ov cfh6iao: � ±�#±�:zªg±�;& ;�q jl`Rh�èejl`Ro>ma§r�èQ`LfiqrM` iqhLbujpo7iqhM yRo>yzc7i0o7xuajo7i0}fegy7a ~Lejpamo>yfbsamyjl`Rh�o7cfhgyy

  • ihMrMo7y:bujlilråjlamo7yenb*teG7h�cfoWbJbqaf.h�7v¬e"cO:f§a.rrMo>cfhMyDbqe¡j0amo7y2xlo7idjl`7h"c7iqhfamoO,b*7hOb0cfofamamy7} o7xc7io>cfh¡ij]v�nfiamyz}�jl`7h«#ihyRrM`¸|hgfo:7j0amo7yDD¢k7jl`Ro>iqa~zhMenbBbo:rMamejpamo7yDb·blrM`enbjl`7htam}:`Ljuv��'���+��;-��� + �63�45- � � +����0amyDb0cfaiJhMt7v4xuihMhMteObo>yziv4xlmoOfiqabq`RhL�µ:jl`7hgvhgihilfy7vjl`7h«a§77.hrM§eObBbE`Ror6iqhMejphM[¨nfa{jph"etxlh¡�rM`7egiqa{jpegf§h"ayDblj0aj]7jlamo>yfbqEburM`[eObd`RhMeM{j0`wrMhMynjphgiBb¤o>iÛthGe]bN7hM§ah6iv¬bqhgi0fa§rMhnb� 7 � � 087 � � ��63,+ ��0�7��å �|hnbqa§7hRbdjl`RhnbJh�rM`Regiqa{jpegf.h4o7i0}fegy7am~Lejpamo7yDbq!jl`Rh�e7jl`Ro>ipa~zhM2y7o7yOc7iqo7xla{jbqhMr¡jpoOiamyfrM7hM bo:rMameM[eMyR%iqhMr6iqhMejlamo7yfeMrMf#b amynjphgyR7hM'joRegiq�jl`Rh a§7>§hMªpr§eObBbrMeMm§hn�rMhgiqrMmhOb� ¢d}ODm`7ofy±6³7²�"%�¡

    _!`Rhdhgy7o:xDjl`7ht±6³�����rMh6ynj]fi0va]b�eM]bqotekcfh6i0amofso>xXhg7cfhMiqamhyLjpeMfh*c:mo7vfhgiBb@c:`7a§.eMyLjl`Oiqo7cOv_�`7hhMy74o:x�jl`7h±6³njl`4rLhMynj]fiuv4a]b|e]boescfhgiqamo:4o7xhgfcfhgiqahMynjpeMXhMc:mo7vfhgiBbJæLc:`7a§§eyLjl`Oiqo7c7vDXäfo>hhMscfmo>v>hgiBb¶eMay7mv4amytjl`7h¤jphzj0am§hsamy7nXbujliuvR:Oa.{jU`7oO#bqamyO}4xlo>i�jl`7hMaiPo>ipfhgiBbe6y7tc7iqo7oOjphM�bpo>hfamy7o:x#iqhjla iqhMthMyLj�x.y7:b�eMy7x0eMa.v«e§moOeMy7rLhnbåO_�`7a]b�cf`7a.§eMynjl`Oio>cfamrdo>fhMhMynj#enb�ay7xphMyfrMhG7vjl`Rhbo:rMa§eM#èejl`7o:ma§rMa]bq¯bujphMtamy7}"x]iqo:jl`7hd¸dh6iuf �oR>egiu°hMy7rgvfrM.a§rMeMlnXo7i�jl`7hNh*c:mo7vfhgiBbaj¶eOb�eM]bqoteQegvsjlo"bujpefam§a~hdeyRtrMo7ynjlipo7Ojl`7hQo>i0fh6iBbqDbqamy7rLh·bqofrMameM:fhMyfhMxuajqb!hgiqhdmoDbuj#*`7hMy·jl`7ho7i0fhgi«hgyLj·jo®oOi0 amy�eMyRoRjl`Rhgi"xleMrjpo7iuv *Uh �@.egv enbjl`7hjl`RhMo>ihjlamrMa§ey®o:x·jl`7a]b4hMcfmo>vfh6iBbJæc7`7a§§eyLjl`Oiqo7c7a§ro>>hhMynjeyRay ±��: 9`7hxloOfy7fhM jl`7h 7���+�� -�� *�� ��� %4' !+ 0 7 �� +63'� 0R©�aj0`èE`fegiqmhOb�£Nam:hk`Rhkc7iqo7oRjphGZbo:r6ameMDhMrGo>yRo:svnfiqamy7}sj]`7h+�y7ah6iBbqeM��Pf`7aa{j0ao:y:b�ofxQ±��z³egyR±6³7´7´amy �@egiqa]b¡

    _�`7hy7o7yOc7iqo7xuajdbqhLrjo>iÛrMhMeLbqhMtjpofha.§.h6}fe�amyjl`Rht§eGjph±6³Mjl`4rMhMynj]fi0vW>jl`7h«cOy7a]bq`7hyLjxlo7ijl`Rhdrgi0amhdo:xXrMofema{jpamo7y7O`7a§rM`«amyRrfhMtbujli0a fhMRenb�eg>o:mabq`RhM«amy[±� 9%&ffegy7enb¡bo:rMamejpamo7y:b�ihGfahMD_�`7h�"Oiqs¸dh6cO:fma§r¤}7ieyLjphMteMyOv4bujpam.§ª0hgfa]bujpayz}"rMaDa§]ªuipa}:`LjqbqDe6y7teMx.jphgi�jphgyv7hGegi¡bEo7x,cfe6ima§enhMynjpe6iuv7a.bJr#bJbqamo:yR«megfo7i�fy7amo7yDb�hgiqh mh6}fe§am~OhG amy¯±��;&�ª"s`7amrM`a]b�>hgi0v�§ejph rMo7scfegiqhG jlo *`7ej`Regc7cfhMyfhMamy[oRjl`Rhgi��fipo>cfhMe6yrMoOfynjlipamhOb¡#_�`7abN`7a]bujpoOiqamrGe�xpeMrjÛegv

  • c7io>xlhnbJbqamo:yRe�o7i0}fegy7am~zejpamo7y:b¡�äfo7ma.fegiqa{jlva]bsblj0am§�eZ>eRbqa§rc7iamyfrMacf§h"o>xdbqofrMameMEhGrMo>yRo:sv[eMyRhMeMy:bhMshgiBbq`7amctxlhLhMmamy7}f:amyfrMo>hkiqhG>a.bljliqaz7j0ao>y·>hj]hMhMy«hMshgiBb�e6y7+�o:amynj�ma§egfa.§a{juv

    »J»�� �4Ë#ÁÚ¶ÓsÊ���&DÊÛ½kÍ �

    _�`7h"hMy7x±6³�jl`2rGhyLj]fiuveObNecfh6iao:[o7xdeMynjpamrM§hiqamrGe�iqhgfaeM.�.amy7fhM�jpowjl`Rh �siqhgvRx#b¢Nxlx0eMami[eMy7 jo jl`7h rMo7scfhjpa{jpamo7y fh¡j]hMhMy�jl`7h èE`niqrg` eMy7 jl`7h$¸dh6cO7f.a§rLeamyÂäRjpe¡jph¬jorgo7ynjlipo>hGnrMejlamo7yD_�`7hObqhhnrGehenb0chgiqe¡jphM eBj·jl`Rhwfh6}:amy7y7amy7}�o7xsºf´njl` rGhyLj]fiuv �uja.bjl`7h`7a]bljpo>i0arMeM!>eMrg7}7iqoOfy7ofxPjl`7h4Ê���&DÊ�"Ò6Ìdo7yeObBbo:rMamegjlamo7y:b|eMy7Í��7Í7ΧÔ,ÏqÌQjl`7hrMo7yO}7iqhg}fe¡jlamo>yDbåW© `7ejenbsjl`Rh¬bqaj]ej0ao>y o7xseObJbqofra§ejlao>yDbfhMxlo7iqh�jl`7h ±6³7´,±mhg}fa]bq§ej0ao>y��_�`OiqhMh[rM`7e6iqeMrjphgiqa.blj0arRbrGey$fhcfo7amynjphM*oRzj

    ªsegy eM7tamy7a]bujliqe¡jlahe7jl`7o7iqa~Lejpamo7yeRb"bljlam.de4c7iqhgiJhM¨nabqajphjpoxloOfy7$eMy enb¡bo:rMame¡j0amo7y$ofxo>iqhQjl`Regysºf´hMh6ib:eM{jl`RoRf}7`hfrLhgcOjlamo7yDb,hgiqh·bo>hjlamhObPeM:hz

    ªjl`Rh yfhMrMhObBbegi0v�¹Bbljpejph�egc7c7i0oOfeMl¹ � �#0�� %4�4�3,+ 7�7 3�4 �;02*�� ,- + � +.-�� � �� � +����0��qsjlo�e6fh jl`7heLbBbqofrMamejpamo7ye¤hg}DeMfhMynjpa{jlvRRenbEbpcfegiqayz}:mv}7iqeMynjphGD

    ªteoRjo>xb0cfhMrMamx0a§rbljpej]OjphnbZhfa]bujåE§egfo7i«fy7amo7y:b¤xpo>ihga}fy enbJbqofrMa.e¡j0amo7y:bkcfo>ma{jpa§rMeMNrMfDbamyDblj0a{j]7jlao>yfb�o>xX`7am}:`Rhgi�hMnrMejpamo7y7DbqofrgameMrfDb � ��0 � � � 087��D

    _�`7h�±6³7´,±d¢Nr¡j�ab�jl`7hsmhg}feMXrMo7y:bJhMr6iqejlamo7y"o:x,*`7e¡j�enbÄeMiqhMeMOv4amy"hgfa]bujphMy7rGhO��uj�7hgxlamyfhObegyeLbBbqofrMamejpamo7yeOb�es¹qrMo7yOfhMynjpamo7yeMrLrMo7iqOamyO}sjpo*`7amrM`·j]o«o7i,o>iqhdamy77aDa§neM]b�cfhgiqeyRhMynjpvcO7j,amyerGo>o:y:yRoRhMO}fh"o>iNeGrjlafa{juva{jl`hMhMy"rgihMejphM7#egyZeRbJbqofrMamejpamo>y"egv"fh*7hMrM.e6iqhM"ej�jl`Rh � � ���0 �;-� � 07 �syR7hMrM.e6iqhM"eObBbo:rMa§ejlamo7yDb`7egfhyRomhg}eXiqa}:`Ljqb¡��hMrM§egiqhGenb¡bqofrMamejpamo7y:bÛ`feG>ho>y7mv§a.tajphM�§hg}eXiqa}:`Ljqb6>jl`RhGvwegiqhy7oOje6oRhMjpooO*y"iqhMeM�hnbljpejphoOiPjlo4iqhMrMhMafh.h6}fenrMa§hnbåD_�`7ab|.a.a{jphL�mhg}eM�rMe6cfeMrMa{juv4enbdhG>a§rjphMtjlo4c7iqhfh6ynj�jl`7hèE`LfiqrM`�x]iqo: cfeObBbqamy7}�ofxux cDegiqa.bq`fhLbo7iÂrMo>yz}7iqhg}fejlao>yfb°enbÂeObBbo:rMamejpamo7yDb¡ ¹¡äOjpeBjphMª0egc7c7ipoOfhMD¹eLbBbqofrMamejpamo7yDb�`7eghdekx..D§hg}feMrMegcfeMrMa{jlveMy7rMeMyoOsy*iqhMegfhObujpe¡jphkegyRihMrMhMafhd.h6}feMrMa.hObåO_�`7hgv`ReGhjo·fhdeMrg7yRoR.hGO}fhM·7vsjl`7h ��%4�7�0 + �*�� (�- 35-Degx.jphgi�ekieåjl`Rhgi�mo7yO}eMy7siqhnbljli0amrjpafhkc7iqofrMhMnfiqhz

    _�`7h x]iqhLhM7o7 jpo�enbBbo:rMamejphG¤jl`7ej4a]b[x]iJhMh hMyLjliqegy7rGh e6y7xuiqhGh hgfa{jamyLjpo�egyRoR7jo>x4eMyeLbBbqofrMamejpamo7y7drMo7ynjliqeLbujqbsa{jl`$jl`7h2ma§x0hMª0mo7yO} >oRb"o7xrMo7yO}7iqhg}fe¡jlamo>y®thMshgiBbdrMo7y:bqa§7hgiqhM®enb"eMyeMma§hMy7ejpamo7y4o:xEamy77aDa§neM�x]iJhMhM7o:"µ#a{ja§bEjl`7hsiqhMeObqo7yt*`OvrMo>yz}7iqhg}fejpamo7y:bEh6iqhhrM{:hG�x]iqo:jl`7h>hMy7hMx0a{j@o:xDjl`7ht±6³7´,±d¢Nr¡j�rGo>o:y§e"zèo>yz}7iqhg}fejpamo7y:bU`7eM·jpo>hde7jl`7o7iqa~LhMs7vsjl`fhk}foOfhgiqy7hMynjp§amfh�amy jl`Rhc7ihfamoO,bmhg}fabJ§ejpamo>yd_�`7h2fhgi0v eMynjpamrM]h6iarMeMs}foR>hgi0y7hMynjo>xZèQo7sfhOb4iuayRhMeMyRh¡7cfhM.§hMjl`Rh"rMo7yO}7iqhg}fe¡jlamo>yDbPbufc7c7iqhLb¡bqhM�ºf :z´7´fyReg7jl`7o7i0a~LhMrMejl`7ofa§r"bJr`Ro:o7.b`7a§rM``7eM�hMhMyr6iqhMejphMsfhMxlo7iqh±6³7´,±6egy7iqhMx.#bqhMsjl`7hse7jl`Ro>ipa~Lejpamo7y«jloo>cfh6y±7±6m´7´7´"bqrg`Ro:o7.bUo>i�`7oDb0cfa{jpeM.b�iuy«fvrGo>yz}7iqhg}fejlamo7y:bå

    _!`Rhe6iw>hj]hMhgy jl`Rhbujpejph e6y7 jl`7h®èQ`nfirg`�hMyf7hM amy�±6³7´: a{jp` jl`7h�bujpa§§ª0hgfablj0amyz}§hg}fa]bq§ej0ao>y o:xdjl`7h �a§bJhnbujpef§a]bq`7thMyLjo7x¤jl`Rh[èÄ`LfiqrM`#E`7hMy7rGhxlo7iujl`2jl`RhrGejl`7o7ma.riqhMmam}:ao:y2eLbtyRoo:yO}fhgidjl`7hbujpe¡jphtiqhgmam}:amofy2amy#ieyRrMh4eRb*a{jd`ReMfhGhy¬nfi0amyO}[jl`7h"cfenbujNa.§§hy7y7a�ofxdo:y7e6iqrM`7a.r

  • }foOfh6i0y7hyLjJ �egcfo>hMo>yfæ brMo>yRrMo7iq7ejd`ReMihMhnbujpe¡fa]bJ`7hMjl`7hM4�_P`Rh�è`nfiqrM`rM.a§rMeM§@jl`Rh"rMejl`7ofa§r"x0hMayfa]bujo>fhMhMynja.bÛe¡jPjl`Rh«o7i0a}famyo7x�jl`7hbo:rMameM#o7i0¬Deåj�j `7h>hg}fay7yfamy7}ofxPºf´njl`4rMhMyLj]fiuvR!bqofhbqamy7}f.ha§7>§h"rM§eRbJbko:hMy$bqhj]jlmhGamyhjphgiqe6yeMmmoR«eyRrMhnbåd_P`7hihMrMoOfhgi0vZo>x�¢NbJeGrMheyR�*Uo>ipiqeMayRhM¶oWblj�ayijl`7hj]*oyRhvihMrMoOhgiqhM�ihg}:ao>yDb|o>iEjl`Rh«}fhgyfhgiemam~zejlamo7yofx¤bo:rMameM�amyDbufiqeMy7rGhOçNx,rGoRfiBbhMnjl`7hdrGhgynjliqe6am~zhMs}foOfhgi0y7hMynj@rg`RoWbhM·jl`7h·bhMrMo7y7D

    »J»���"Ë#ÁÚ¶ÓdΧÔ:ÌqÓMÕ �Í:ÕÛܶÓLÕ6Î.Ø7Ù

    _!`Rh·amynjphgiuegi�cfhgiqamofenbPjl`L#b!jl`Rh¤hg}famy7y7ay7}4o7x�esbujpejphsbqofrgameM#amyDb0fiqegyfrMh·amyt#ieyRrMhMDeMx.jphgijl`Rht£Nhgi0eMy�cfe¡j.jphgi0yW¶rGo>scO]bqo7i0v[bqa.r6:yRhnb¡bdamyDbufiqeMyfrMhG�Oabegfa..ajuveMy7o:meg}fhtamyDblfiqeMy7rMhtxlo7iEjl`7hoRª0ayfrGo:h bJeM§egiqamhM hM«cfmo>v>hMhnbå�_�`7h #iqhMy7rM` hnbljpef.a]bq`RhM xpeMta§v eM§moReMyfrMhnb%e¡j�jl`7hc7`7a§§eyLjl`Oiqo7c7a§rhcfmo>v>hgiBbJæ>blf}7}DhLbujpamo>yD_�`7hgv"hgiqhteM]bqo4c7iqo>*cOjphMZ7vesfamiujl`"iqabqamy7}4cfo:ma§rGv[bqamyfrLhjl`Rh·failjl`"iqejphsamy#ieyRrMh«`ReM>hnhMybljphMeM7amvOiqo7c7c:amy7}#@�Nfi0amyO}"jl`7hamynjphgiuegicfhgiqamof7,a{jU}7onj�fhMmoOjl`Rh7hMejl`"iqejphz@�Nfi0amyO}�jl`Rh«hGrMo>yRo:a§r«}7iqoOdjl`�amy"jl`fh·j]hgyLjla§hnbqDjl`7hgiqh·eObÛetteMyzcfoRhgidb0`Ro>iujpe6}fhnh«jojl`7h"7hGejl`[o7xke"moOjÛo7xQvRoRfyz}2hMy[nfiqamyO}jl`fh«e6i¡¶¢°xlmoO�o:xÛatam}7iqeMynjqb¤egi0i0afhGx]iqo:�ljpegv7[ä7cfeMayR �|hMm}:a���o7meMy7#sjl`7hgiqh h6iqh¯±6 &f´7´7´7´7´xlo7iqhga}fy7h6ib¬ay#ieyRrMhay�±6³,±6³%eMyR"7m´7´7´7m´7´7´amy ±6³�"7´D¶  eMyOv¬o:xkjl`7hM�hMrMeMh#ihyRrM`$rMa{jpa~hyfb¡�_�`7h#ihyRrM`2cfo7cODme¡j0amo7y>hMrLeMtho>iqh[7ahgiBbqamx0a§hM eyR¬jl`Rha§ttam}7iqeMyLjqb"bujpegi]jphM rgiqhMeBjlamyO} xlo7iqhMa}fy eRbJbqofrMamejpamo>yfbsjpo�fhMhgc$fc2jl`7hMaibpcfhMrMamx0a§rdr`RegiqeMr¡jphgi�egy7r{j]fiqhz

  • © ©2��enbÄeMbo"e¤cfh6iao:o:x�>a iam}fa]bq¯eMyRjl`7h·>hg}:amyfy7amy7}"o:x�amyfx0§ej0ao>yaytWiqeMy7rLh|`7a.§h¤jl`7hc7iqamrGhnbs`ReMfhLhMy$bujphMeMOv[iqa]bqamy7}jl`OioRf}7`RoRzjQjl`Rh±6³nj `o>yRWbNhgih�iuayRhMD�_!`7a]byRh cfoOfh6iuj]v�enb�e�rMo7y7rLhgi0y�xlo7irM`Regiqa{jpegf.h�o>ip}fegy7am~Lejpamo>yDb�bqamyfrLh%cOff.a§r¯amyfrMo:hMªqbufc7cfo7iujc7io>}ziqeg"b�7a.7yfæ j@hfa]bujJzç|jl`Rhgi�xlo>iqtb!o:x,yRhcfoOfhgiljuve6c7cfhMegiqhMnfiqamyO}sjl`7hd£diqhMe¡j �hgc7iqhLbBbqamo:yO_�`7h}7ihMej@7hgc7iqhnbJbqamo7y·eOb�§hnb¡bEbhGh6iqhQjl`7eMyamytoOjl`7h6i�ayRn,bljli0ameMrMoRfyLjliqamhnbUeMy7«aj¶enbUeM]bqo>hM.e¡jphMDO_�`7hcfhGego>xDy7hMc:mo7vfthMyLj,iejphQiqhGeMrg`7hGºf´·jpoº7º�$¯amy[±6³�"�"«amy£diqhMej��Ûiqa{jpeMayeyR·jl`7h+�y7a{jphGäOjpejphLb¡�py�#iqegyfrGh2a{jseRbZegiqoOfy7>:;$ ay±6³�"�9D��Q7jNjl`7hDyRhM«cfmo>vfhMynjiqejphwenb"hRbJbbqam}:y7amx0a§rMeMyLjtamyWiqeMy7rMhsfhMrMe¡,bh«o7x�jl`7h«amcfo7iujpegy7rGh«o7xUeg}7iqamr{j]fiqhO7XegiqhgiBbEhgiqh·jl`7heMay"fa§rjpa"bÛo:x�jl`7hs}7iqhGej7h6c7iqhnbBbqao:yamy#iqeMy7rMh eOb$eg}7iqa§r{j]fiqeM"c7iqamrLhnb bq«cfhGD"ä:ofrMameM4eMy7�cfo:ma{jpa§rMeMtjphgyDbqamo:yfb«hgiqh}7ioR*amyO}#µ,bujlipafhObEhgih*h6iv4o:yO}eMy7ta§7hnb0c7iqhGeMD�PzjliqhghGªuiqa}f`njUmhLeg}OhnbÛeMyR7,o7ytjl`7ho>c7cRoWbpa{jphbqa:hMegynjpamª0xleObqrMa]buj�oOip}fegy7am~Lejpamo>yfbUrMeMthkfc#7_�`7h"±6³�"�9bo:rMameM.a]blj�}foOfhgi0y7hyLj�o7x����%45-�� � �� 3,+ ��0sa]bjl`Rhihnbu{jNo7xQjl`RhnbJh"cfo>ma{jpa§rneMeMyRbqofrMameMPjphgyDbqamofy:b¡ �ujdiqe6a.bqhMjl`7hteg}fhnb*eMx.jphgidjl`7h$±6³�"�9�� ��� � *7� 35-6+�� 4'%4 � }fh6y7hgiqeMfrMo7m§hnr¡jlahQ>egi0}feMamy:amy7}���egyRsiqhg}O.e¡jphM¤jl`7hkxlamiBbujXcfega«`7ofa§7egvDb � � %4� �87 � 3� � 7 �¡

    Xo>iEjl`Rh«xlaiJbujEjlamhM¶jl`7hs*o>ip7ayz}[rM§enb¡bdh6y �qo>vfhLesfeLrMejlao>y *�Mo *Ueg}7iqegyz}fhM�etayfa]bujphgiÛa.yjl`Rh���� %45-�� � ��63,+ � 0}foRhgipy7thMyLjpWenbEjl`7hayDblj0a }fejpo>iÄo>xUerMo:scf§hGy7h¡j]o7i04o7xE`7o:ma§7egvrLe*c¶be6y7fa..§eg}fhOb[xlo7i�jl`7h$oOi07amyz}fª0rM.eObJb[x0eMta§.a§hnbå �h�eM.bqo�rgiqhMe¡jphM vRoOOjl` `7oDbujphM.b � 3 ��%0 ��� 087 *,0� 0�%4,087 7�0��q�eMy7[`7o:ma§7egv$rGhyLjphgiBbNxlo7iNrg`7a.§OiqhMyDX_�`7ab*a]b¤jl`Rh"o>iqa}famyiujpe6ynj#cfegi]jWo>xDjl`7hkyRo>yzc7iqo7xua{j�bhMrjpo7iq*`7a§r`7hG>hMmo>cfhG«eMayfveMx.jphgi,© ©����¡

    »J»����"ËD¿sÍn×ÎDØ7ÒMÒ �¶Ü#ÍOÌqΧØ7Ô�ÍzÔ#ÙÅ��MÏBΧÏÌqÍ7Ô#ÒMÓ

    ©�o7iqm© egi ���senbecfhgiqamof o>xNiqhnbljli0amrjpamo7y o>xdjl`7h[x]iqhLhM7o>�jpo eLbBbqofrgame¡jphOkä7amyfrMh ±6³�"7³7xlo7iqhMa}fyfhgiBbJæMeLb¡bqofraej0ao>yfbE`7eGjpo>h·e¡7jl`7o7i0a~LhMDR_!`7a]bE§hg}fa]bq§ej0ao>yseRb�iqh6cfhMeM.hG«fhgi0v§ejphMDamy±6³#±6*`7hMy  a{j]jphgi0iqe6y7«fhGrneMh �Xiqhnbqa7hyLjJ7¢·x.jphgi�jl`7h�*������ 0�*,0�� �0 � � 0 � c7`Ro>yRhGve6i6¶äfhgcOjphgs>hgis±6³�"7³7ª egv±6³%&f´%�qOjl`7hd7hMxlhMe¡j�e6y7·jl`7hdçNrMrfcfejlao>yofxWjl`Rhd£·h6ieyegiqvamys  egv[±6³%&f´7Ojl`7hde7jl`RoOi0a{jpegiqameMy¥*amrM`Ov�}foOhgi0y7hMynj o>x egi��MrM`Re ���¡jpeamy � ±6³%&f´7ªM±6³%&�&��¨nhnbujlamo7y7hG�jl`7h�±6³7´,±�¢Nrjå$hG>hgi0veLbBbqofrMamejpamo7y$rMoOD¬>h>a]b¡bo:fhM27v eMy$eG>amy:a]bljliqej]aheGrj � ±6³%&�±��¡�_�`7hx]iqhGhenbo>yDbeMy7$teMy7vcfo7ma{jpa.rGeÛo7i0}fegy7am~Lejpamo7y:bNhgiqh7a]bBbo:fhMD�ç·y[jl`7hoOj]`Rhgi`7eMy7jl`Rh�¥sa§rM`Ov$}foOhgi0y7hMynj*rgiqhGejphM$ec7io7ªu}7oOfhgipy7thMyLjpe¬eObBbqofrMamejpafh¯y7h¡j]o7i07$hLb0cfhMrMameM.mv�vRoR7jl`�o7i0}fegy7a~Le¡j0amo7yDb¡� eMyOv�xlo7i0fa.77hMyeLbBbqofrMamejpamo7yDbshgih2rM§eyR7hnbujpamy7hMv iJhMo7i0}fegy7a ~OhGDE_�`7aubrM§eyR7hObujpayRhyRhj]o7i0$eLbewfeObqa]bxlo>isjl`7h¸|hnbqa]bljpegyfrMh«o>fhMhMynjÄ>aihMrjphMt7v[7h£Ne.§hOD¢kj�j]`7hhMy74o>xE© o>i0© egi ���q:jl`Rhw±6³7´,±*¢NrjPenbihMhgy7eGrjphMteMyRteM.Dihnbujli0a§rjlao>yDb>a{jl`sjl`7hNhgrMhgcOjpamo7yto7x�xlo>iqhMa}fy7h6iBbJæMeObBbo:rMa§ejlamo7yDbq>hgiqhsbufc7c7ihnb¡bqhMD_�`7hdx]iqhMhG7o:�o>xXenb¡bo:rMame¡j0amo7y·oRf«y7hg>hgi,fh·bhgiqamoR#bqmv¨nWhnblj0amo7y7hG«e6}feamy

  • »J»B»E¼�Å*ÓMÒMÓGÔWÌ�È*Ó��ÓgÖ§Ø7Ü#ÐÓMÔDÌqÏ��BÊ�� � �O¼¡Ê���� ���

    _!`RhihMrMhMynjU`7a]bujpo7iuv4a]bdrM`7e6iqeMrjphgipa~hM7vxloRfiÛxlhMej]fiqhnb*D7hMo7}7iqegc7`7a§riqhMrMoOfhgi0vR,rGo>yDbljpegynjhGrMo>yRo>a§r}7iqoO·jl` � moOhgi e6x.jphgi±6³7²�"%�qbjpe¡fmhiqhMcO7f.a§rMeMy}foOfhgiqy7hMynjx$bqa§rgfy7hnb¡b"eMrMrMam7hMynj`7a§rM`thgRc:§eMamy¶bjl`Rej�bqo7h·b0cfhLrMa§eM¶bo:rMa§eM¶bhMrfiqa{jlv�b0vbujphMtbUegiqhdrGo:scf.h¡jphvilDys7vs7j]e#bqofrMamhjpamhnbRaj�a]b�jl`7hdrLenbqhxlo7i"rMaa.sbJhgiu>eMynjqbq·blj]7hgynjqb·bqhMmx0ªphcfmo>v>hM cfhMo>cf§h2eMy7®eG>oR>h$eM.Nx0egiqhgiBbå_!`Rh$rMeObqhhMrMeXbqhNa{j�a]be«bpcfhMrMa.x0a§rNrneLbqhso7x�7hM§hg}fejpamo7ytofx�e¤cOff.a§rsbJhgiufa§rLh·ta]b¡bqamo7y«jpojl`RhyRo>yzc7iqo7xua{j[bhMrjpo7i¡Ejl`7h�¢d}7iqamr{j]fiqeM· yRo>oR#b[bqofrMamenbhMrfiqa{jlvR¤eMamy:mv�x0amyfeMyfrMhM�7v�x0a]bJrMeMNayfrGo:hO_!`Rh¢d}7iqamr¡D{j]fied 27j]eM*ä:ofrMamhjlv�a]b".amy7fhM�jpoeMyOvenb¡bo:rMame¡j0amo7y:bX`7a§r`egiqhdeMrjla>h¤amysiufiefe6iqhMeObqfegy7tbl:#bqam7am~zhnb,jl`7a]b�enb¡bo:rMamejpafhkyRhj]o7i0#

     27j]egEbo:rMa§hjla§hnbkhgiqhtyRoRjÄo>y7vmamo:vfhM.aj0a]b*o>ikj]7>hgiqrmoDbqa]b·c7ihG>hMynjpamo>yREegyR2y7oO¢�� �"äc7iqhhMynjlao>yR:egih¤xla§h§Db,`Rhgiqhd·7j]eM¶bo:rMamhjpamhOb�eMy7enbJbqofrMa.e¡j0amo7y:bXhgih¤xlamibljqµ:bo:rMameM#bqhLrfiqa{jlv

  • ���

    xlofo>hGD �0y jl`Rh cfoDb]jpªe6i2cfhgi0ao:7t·7j]eM4bqofrahGjlahnb$eM]bqo�hg}feMyjloiufy�`7hMeM{jp`ÂeyR%bqofrMamenhLbujpef§abq`7hMynjqb>eamyfvxlo7i¶jl`7hk`ReMy77a.rLegc7cfhG«e6y7«xlo7i¶jl`RhdhMm7hgiqv

    _!`RhcfoDbujpª]egicfhgipamo:tenbEjl`7hcfhMego:x!jl`Rhtèo:sDy7a]blj��@egiuj]v4amy�WiqeMy7rLhnµXa{jPeObÛeMbojl`7hrMma.ego7xE§eG>o>iEfy7amo7yDbqXegy74hnbpcfhnrMa§eMmvo:x�jl`7heMa.yty7amo>yRWjl`Rh«è£N_ � ��%4 ���8* � � 35-6+ %4�� �84 � � 3'� 0* �� � 3��83,+ � �qdamy7fhM�jpojl`Rh2èo:sDy7a]blj �@egiuj]v_!`fh2o:7hgipy §hg}fa]bq§ej0ao>y�o7y®hcfmo>vfhMynjeMyRo7i07!j iqeMrMhLb·feGrg2jpowjl`7a.b*cfhgiqamofDP_�`7h"o7i0$r6oOfy7rMamb � � !+ - �87�*�� 0845- � 0 � ��+67 0��·hgiqhr6iqhMejphM2amy±6³%&,9#¶jl`RhnbqhrGoRfyRra§]bqPiufy27vv>hMhnbo>y§egfo7idfy7amo:y2§a]bujqbqUegiqh4rMo>*cOD]bqo7i0v`Rhy¬e�rGo:scfeMyOv$`ReRb*o7iqhZjl`ReMy :z´v>hMhOb¡�_�`7hgv¬egiqhxpayfeMyRrMhM7vjl`7h±�$�o>xlx!jl`Rh·eg}fhsfa.§,rGo>yLjliaz7j0amo7yo>x�jl`7hhMscfmo>vfh6iBb¡7©�o7i0DbÛrMoOfy7rMam]bkeMy7eg}fhrGegynjphMhMyfbq7egv7ªqrMe6iqh eMy7`7o:ma§7egv�rMhMyLjphgiBb[xlo7i�jl`7ho7i0fhgiBbæQr6`7a.§OiqhMy7tbqofrMameM"bJhgiufa§rLhnb[xlo>i4jl`7hxpeMta§a§hOb¡ *UejphMv·jl`Rhgvt`RegfhkfhMrMofh|>hgi0veLrjlahdamy·jl`7hd7hMofrgiqejla ~Lejpamo>yo>xXr{j]fiqhdegyRo>xDjl`7hde6iujqbe6y7«o>iqhkihMrMhgyLj0vNjl`fhGvteMyReg}fhQjliqeMamy7ay7}egyRhcfmo>vfhMynjXc7ipo>}7iqe6tb¡

    »J»B» � �4Ë#ÁÚ#ÓkÝ0ÎmÝuÌÎ.ÓMÏkË �NÍOÌqÚ#ØOÖ§Î.ÒkÅ*Ó��Î �ÍOÖÍ7Ô#ÙÈ*ÓMÒMØOÖ§Ø7Ô#Î.ÏJÍOÌqÎ.Ø7Ô

    _!`Rh¤cfoDbujpªegi�cfhgi0amof«a]bUeM]bqo"edcfhgiqamo:o>x@rMejl`Ro:ma.rdiqhgfaeM¶amyt#ieyRrMhM¶bpcfhMrMa§e§vZrMo7yfrMhgi0yfhGa{jl`«vRoO7jl`7>o>ip7ayz}fª0rM§eRbJbeMy7cfhMeObqeMynjli0vn eyOvrMegjl`7o7ma.rdv7oO7jl`"eLbBbqofrMa§ej0ao>yfbq¶blr`Zenb� 0�%4,0�7 7�0� ����+�� �� 0 � � �;- + 084�4,0 � =G{¢èd ���0�%4,0#7 7�0 (�- %*,+63�45- 0 � � �;- + 084�4,0 � =G �dèd �qÄhgiqh[rgiqhGejphM$ay$jl`7hamyLjphgiuegikcfhgiqamofegyRhgiqh«fh6ivweMrjpafhtamy�jl`Rh«cfoDbujpª.egiÛcfhgiqamofDD_�`7htamy7x0hMy7rLhto7x =M¢è¤#o7y"jl`7ho:7hgiqy7am~Lejpamo7y o7xeg}7iqa§r{j]fiqhenbZ7hMrMa]bqah2eMy7 eMyOv�§hMeM7hgiBbZo:x·jl`RoWbhvRoR7jl` o7i0}fegy7a~zejlao>yDb>hMrLeMthcfo7aj0a§rMa§eyDbmegfo7ify7amofy¯o7i$O#bqamyfhnb¡b®enb¡bqofrMamejpamo7y:b §hMeG7hgiBb¡ä:ofh c7iqamhObljqb>hMrLeMtho7i0fhgiBbJµ!jl`RoWbh�c7i0amhLbujpªoOi0fhgiBbrgo7y77hMy7hM27v2jl`Rh �Xo>cfhGUhgiqh"fhgi0v$amy7x0hMynj¤o>y[jl`7hrGejl`7o7ma.rvRoO7jl`o7i0}fegy7am~Lejpamo7y:bqfhnbpcfhMrMa.eM§vo7y·jl`7h =Gç«èd � ��0�%4,087 7�0��

    � � +�� �#0 � � �;-6+ 084�4,0��¡O¢ rMo7y7rGhgiqy·a{jl`jl`Rh"_!`7a iqw© o>iqm[eMy7[7hMrGo:mo7y7a~zejlao>y[a]b*r`RegiqeMr¡jphgiqabljlamr"o:xÛoWbljkvRoOfyO}[cfhMo7c:mh"amyOfo:hM[amywjl`7a]brGejl`7o7ma.rkihGfaeM]

    �0ysjl`7h·xla.x.jpa§hnbq>jl`Rh|WiqhMy7rM`rMo:mo7y7a§eWhcfamiqh·rGo:m.e6c¶bhM¶R_!`Rh·xua iblj �0yR7hgcfhMy77hMy7rGh¤©�e6iP7iqo7fhoOOjZamy �py77ofrg`7amyfeOQ¸Dy�7v ec7iqo7xphnb¡bqamo7yfeegiqv>sa{j4`7eM e�of7hgiqejph acfeMr¡j4o7y jl`Rh¬WiqhgyfrM`cfo7cOfmejpamo7y7¶z7jPjl`Rht7hMxlhMejÛo7x��ahy �da§hMy ��`n � ±6³:;&��·bp`7ofrgfhM�cO7fma§rto7c:amy7amofyD#_�`7hbeMth«v>hMegiqjl`Rh �0y77h6cfhyR:hMyRrMh|© egi,7iqo7fhdoOOjXamyt¢N}fh6ia§eOµ7a{j@§enbujphMxlo>i�hMa}f`njXvRhne6iBb¡#±6 :z´7´7´7´7´·#ihgy7rM`cfhMo7c:mhhgiqhkjl`7h6yt.aamyO}"amy"¢·m}fhgiqa§eNeyRjl`Rh|`Ro:mhNrMo7ynjpayz}Dh6ynj�xloOf}7`nj�e6}fegamyDbuj,jl`Rh¤¢Nm}fhgiqameMytyRej0ao>yRe§a]bujqb¡_�`7a]bd7hGrMo:mo7y7am~Lejpamo>y"egid`7eMe«}7iqhMe¡jam«cfeGrjÛo7yjl`Rh#iqhMyRr`4cfo7cOf.e¡jlamo>yR!§amfhjl`7h¥sa§hjly7eM°egi7am4o>ytjl`Rhs¢·hgiqa§rMeMyDb¡f¢moOjUo>xUo>ip}fegy7a~Lejpamo7yDbq�bqoOh«xlo7iEjl`7h·e6iq#onjl`7hgiBbÛe6}feamyfbuja{jp#xuoRfiqa.bq`RhMD_�`7h*hMrMo7y7o:a§rseMy7tcfo:ma{jpa§rMeMXrMo>yfbqhM¨nWhMy7rMhLbo:x,jl`7a]bEegirMe#bhM«jl`7h*hyR"o>x,jl`Rh &Ojl`«¸|hgcOff.a§rseMyRe6iqhdejfjl`7hdoOi0a}famyo>xX7hd£NeD§§hnæ b�rGo:hQeMrg#

    ©�`7hMyt`Rh·rGeh¤>eMrg"amycfoRhgiq7h·£Nefm§h·rM`7eMyz}DhMsjl`7hNrMo7y:bujlaj]7jlamo>yamyto7iq7hgi,jothnbljpefma]bB`eto>iqh"bujphMeGnv4cfo:ma{j0a§rMeM�iqh6}:amhO#_�`7hty7hg&egyR¬bljlam.Uhfa]bujpayz}[rMo7yDbujla{j]7jlao>y"eLbkfoOjphM7vet§egi0}fh

  • �6�

    e��qo7iqa{juvZeMy7"fhs£Ne§h·enbPjl`Rhxpai¡buj �Xiqhnbpam:hMyLj,jlo«>hshM§hnr¡jphMD%�hsh6y77hM«jl`Rh·¢·m}hgiqameMy«egiPaj0`7amxuxpa.r¡D{jlveMy77hMrGo:mo7y7a~hMscfhMeMrMhMx]D§vNjl`7hd¢·x]iqa§rMeMyhMc:aiJhO

    »J»B» � �4Ë#ÁÚ#ÓdÏBÎ��OÌqΧÓMÏEÍ7Ô#ÙÌÚ¶ÓdÏJÓ��ÓMÔDÌqΧÓMÏkË��NØ7Ô#Ï �#Ð4ÜWÌÎØ7Ô4ÏBØ7ÒGÎ.ÓgÌ �Ñ#Ê������sÍ7Ô#ÙtÌqÚ#ÓkÍOÝlÌqÓMÕGÐ�ÍOÌqÚ

    �0ytjl`7h"bqazj0a§hnbW`fhMytjl`RhtrMo:o>y7a§eM¶egiBb|hMy77hM7XhnrGo>yRo:a.rsc7iqoDb0cfh6iajuv4}7iqh¡�eMy7amy7x0§ej0ao>ybqoRhM"7oOsy¶äOjphgct7vbujphgcf7jl`7h¤o>ip7ayz}rM§enb¡bÄrMe}7`njpªfctajl`«jl`7h*rMo>yfbucOj0amo7ytcfe¡j]jphgi0y"o7x,jl`7ha§7>§hdrM§enb¡b¡

    ©�a{jp`«jl`7hNiqh��u:hMyRej0ao>yZo>x,jl`Rh·cfo>cOmejpamo7y7#a{jqbhgyziqa.rM`7hMynjUegyR`7am}f`7hgimhghM#o:x�hGnrMejpamo>yRjl`Rh}7i0oOsamyz}�cfegilj0amrMamcfejpamo7y o>xdofhMy2jpo eMrBjla>h§axhe6y72jl`7h[rM`7eMyO}fh[ay®x0eMa.mv cfej]jphgi0yfbqQyRhrGo>yRrMhgi0yDbÄegc7cDhGegiqhM"amybo:rMamhjlv4eMyRt}feGhNia]bh*jpo"y7h¡°xlo>iqtbÛo7xUeRbJbqofrMamejpamo>yfbE`7a§rM`�s{j0a c:§a.hG�a.yjl`Rh«a§7ªbqaOjpa§hnb6#hMyOfaiqo7y7thMyLj7hMxlhMyfrMheMy7"c7iqoRjphGråjla§o7y7¶xphMayfa]bB,y7oOjpefvxlofrXbqhM4o>ytjl`Rh«x0am}f`nje6}feamyDblj�faiujl` rMo7ynjlipo>Âiqhnbujliqamr¡j0amo7y:b�eMyR eG>o>i]jlamo7y c7iqo7`7aDaj0amo7y bufc7cfo7i]j�xlo>i amynjphgipy7ejpamo7y7en7h¡fhMmo7c:hMynj@egyR«_�`7amiq·©�o7iqmrMoOfynjli0amhObå

    _!`RhrMa§eGo:xkjl`7hLbqhy7h rMo7y7rMh6iyfb·eObo7xNrMoRfiJbqhjl`Rhfhgi0vhgi0v$a§«cfo7i]jpegynj egv ±6³�9o>fhMhMynjJ��0y"jl`7h�bqo7>vwejpoDb0c7`7h6iqh�o7xEjl`7h¹qo7y2bujlipafhO¹kDy7ahgiJbqa{j0a§hnb@jl`Rh�buj]7hgyLjqbo>fhMhMynjqb"h6iqh�7h¡fhMmo7c:amy7}7egvb[eMy7�y7a}f`njqb"jl`Rhnbqh�yRh�jlo7c7a§rnbenb"hM§eObr6iaj0amrMam~Lamy7} jl`7h¹qrGo>yfbu«cOjpamo7ybqofrMamhjlv#¹i0}fe6y7a~Lejpamo7y�eyfjphMeMr6`7ayz}hjl`7of:bipfhgiBbe6y7tv7oOfyO}4hg>hMr7jpa>hObrMeMhsoOOj,j]*o«hMhgDbejphgiegyR"e·}fhgyRhgiqeMbljli0afhkcfegiemv7~LhG*jl`RhQ`7ofmhdhLrMo>yRo:svxlo7i�o>yRh¤ofynjl`Dz_�`7hdoR>hMthMyLj�h6y77hM.e¡jph¤amy =y7hQaj0`eMya§cfo>i]jpegynjXe6}fh¤i0a]bh·eMx.jphgiUe·rGo>m§hMrjpafh¤>egi0}feMamy:amy7}fDekOfiBblj�o7x¶jl`Rh¤iqa}f`njXsamyO}"a§7>§hMª0rM§enb¡bUo7yt7h£Nem.hLæ b·a§cOD]bqh4eMy7[y7h&cfegiq.a§eMthMyLjpegi0v[hM§hMrjpamo7yDb6,çdy7htvfhMe6i·§ejphgiP7h"£Ne§h"§hx.jjl`RhtcfoRhgieMx.jphgi�ekyRhg}fejlafhkihxlh6iqhMy7n�MXah|v>hMegiBb�§ejphgi#jl`7hkamynjphgipy7ejpamo7y7eMfo:amDr6ia]bqa]b�ofrMrfi0ihMD

    ¢·x.jphgi[jl`7h°±6³�9hg>hyLjqbq«jl`Rh }foOfhgiqy7hMynjjli0ahM jpoiqhgamynjlio:nrMh egyÂe7jl`7o7iqa~Lejpamo7yxlo>icfo7ma{jpa.rGe@hgOjliqhga]bujÄenbJbqofraej0ao>yDbWO7j�jl`Rh±6³7²,±·¢Nrjp7foOjphMZ7vjl`7h �@egi0ma§eMthMyLjpWenbÛrMegyRrMhM.§hMfvjl`Rh ��%4�7�0�+ ����%4�7#-6+.-�,- + %4,0 � hamy7}eg}feMamyDbuj�jl`7h*rMo>yDbljla{j]7jlamo7y7eM#iu.h*`7a§rM`«amyfrM7hnb,jl`Rh¤x]iqhGhM7o:�o7x,eLb¡bqofraej0ao>y

      o7iqhwj iqeMOa{jpamo7y7eM·yRo:yOc7io>xla{jo7i0}fegy7am~Lejpamo7yDb"hgRcDeMy7fhM nfiqamyO} jl`7a]bZ:hMrGeM7h�Q`7hLeM{jl`�eMyRhMmx0egih�hnbljpef.a]bq`7hMynjqbegyR bJhgiufa§rLhnb·Dj0amcf.a§hM foOjl`�amy jl`RhcO7f§a§r�eMy7 jl`7h$c7iqa>ejph bqhMrjo>iJ�@egihgynjqbªjphMeMrg`RhgiBbÄenbBbo:rMa§ejpamo>yfb`7eM«jpotfhNiqhgc7iqhnbhgynjphGamy"y7e¡j0amo7y7eMXhMnrMe¡j0amo7y"eMyR"7hG>hMmo>cfhGD:_�`7hxpai¡bujNäfhMrgihåjpegilvo:xèPDj]fiqhM¶jl`7htxleMoO#bsiqa{jphgid¢Ny7Oi �  eMie:>�hMy7rMoOfiqeg}fhM"jl`7htr6iqhMejlamo7yo:xPjl`7h� 3,+67 %4�7 *,0 �63 � ��.-� �#0LD·{jpamcOfi0cfoWbh·r¡D{j]fih·egyRteMiuj!rMhgynjph6iBbqDe6y7jl`Rh � 3,+67 %4 *,087 ��0�%45087 0;-* 0� 3 �

    �� - ��0LrDj]fiqh·eMyRtiqhMrgiqhGej0ao>yx0eMrMa§.a{jpa§hnbamynjphMy77hLtxlo7i!jl`Rh¤vRoR7jl`fµDoDbuj!o>x#jl`7hObqh«blj0am§#hgfablj0amyz}

    ��������������������������� ��! ���"��#����$�%�$���&�'��(�� *),+-�')�./�0)�1�$����2�43�$5�768�'68�0��#49

  • ���

    o7i0}fegy7a ~Lejpamo>yfb�egiqht±6³7´,±¢*rj@enbBbo:r6amejpamo>yDb!eyR·jl`7hgvshgyRhxpa{j�x]iqof�amcfo>iljpegynj#cO7fma§r·buf#bqa§>a§hnbåO_�`7heMam o:xjl`7a]br{j]fiqeMy7hj]o7i0enbdjlo$7hMofrgiqejla ~LhegyR$7hMrMhMynjliqeMmam~Lhr{j]fiqhGEhnb0cfhGra§eM.mv2fa]b0ene6y7 cfh6ixlo7iqay7} egiujqbå�*oRh>hgiqkjl`7h$cO7f.a§r�rGo>yfbqaubujZoDbujlv o>x"a.77§hMª0rM§enb¡b4cfhMo7c7.h egyR jl`7hblfc7iqhMeLrgvo:x �@egiqa.b�amy·jl`7hdr¡D{j]fiefeGrj0afa{jlv*iqhMteMamyDb¡

    �0y�±6³7²,±6 =åeMrM¨nhOb �hMmo7iBb[c7iqo7c7oDbqhG�e�fa.§m«foOjphM 7vÂe�.e6i0}fh e��qo7iajuvRjpo�cOipo>oOjphrGo>yLjlayLDamy7}hMnWrMejpamo7yDL¢�b0cfhLrMa§eM>jpe«o>ysjl`7hQeg}h|fa§.,bl:bqa§>am~LhOb�rMo7ynjpamynamy7}thGn#rMe¡j0amo7ytbr`fhMhnbilfy"hMa{jp`7hgiP7v4xlo7i0c7iqo7xla{jpDy7o7yOc7iqo7xuajUo>iEcO7fma§rhnbujpe¡f.a]bB`7hMynjqbåf_!`RhgiqhMxlo>iheyOveObBbqofrMamejpamo7y:bP«hgiqhr6iqhMejphMamyjl`7h�bqhg>hyLj0ahRb®µsjpo%7h6ahgi[jliqeMamy7ay7}�eMy7°rMo7ynjlamyLDamy7}�hMnrMejpamo7y jl`RhrMo:scfh¡j0a{jlao>y>hj]hMhMyhnbljpef.a]bq`7hMynjqbk>hMy7hMx0a{jphMeMamy:mvc7iqaejphto7i0}fegy7a ~Lejpamo>yfbq�hMa{jp`7hgidyRo>yzc7iqo7xua{jQo>iÛxlo>i0c7ipo7xua{jJ�oOeM7egvfbqfo7y7hdhMscfmo>vfhGhdoRzjXo>xXxloRfi,>hgy7hMx0ajqb�hMeMrM`svfhMe6iPx]iqo7�o7y7hdxlo>iq�o7xWjliegamy7ay7}o7i�egyRonjl`7hgiå

    �·fiqamyO}"jl`7h"bqazj0ahRbÛeMyRZjl`Rhbqhg>hyLj0ahRbW#ieyRrLhfh6}feytjporMejprg`tfcamytjl`Rh«fhgfhMmo7c:hMynjÄo7xyRo>yzc7iqo7xua{jUbqhMr¡jpo>iJ8�h rMo>yRrMhgiqy:b:eNo>ihdeMrjpa>h«¹qrMaa.,bo:rMamhjlv¹q:x0amyfeMy7rMa§eM:cOff.a§rNhyRrMoOfiqeg}fhMhMynje6y7«xpegfoOfiqef§hkiqhg}Omejpamo7yDb�hg7cf§eamy·jl`7a]b�hg>o:{7jpamo>yO_�`7a]b,jliqhgyR·enb!e]bo«iqhMamy7xlo>irMhM·7vsjl`7hdeGrj0ao>yo7xbqo:h�rMaDa§bqh6iueMynjqbq bur6`�eLb�#iqe6y��Mo>a]b �d o:r6`7ª *UeMamy �M2`7o�eMnfofrMejphM e�§hnbBb°bujpe¡jlablj}foOfh6i0y7hyLj#7vtbljliqhgyO}Ojl`RhMy7ay7}sjl`Rhky7o7yOc7iqo7xuajPbhMrjpo7i � �m.eMy7y7�±6³7³�"%�¡

    »J»B» � �"Ë#ÁÚ#Ó ÃkÎ �7Ú:ÌqΧÓMÏkË�ÉØ7ÒMΧÍOÖ.ΧÏÌ�ÀØ �ÓMÕgÔ#Ð4ÓMÔDÌ�Í7Ô#ÙÈ*ÓMÒMÓMÔDÌqÕ6Í7Ö.Î×ÍOÌqΧØ7Ô

    _!`7a]btjphgyR7hMy7rgv enb"iqhMamy7xlo>irMhM amy jl`7h$hMa}f`njpamhOb¡E#iqo7Çe2cfo7aj0a§rMeMNcfo:amynjo7x«fa§h|jl`7a]bcfh6iao:a.b�rM`fegiqeMr¡jphgi0a~zhMs7vsj]oeMamytxlhLej]fiqhnbnjl`7hdxua§iBbujXmo7yO}fª]jphgi0�.hMx.jX}foOfhgiqy7hMynj@egy7·jl`Rht±6³Lº7hGrMhMynjliqegmam~zejlamo7y�¢Nr¡jJ/�@egiqeMzoRfarMeM.v>2amy¯jl`7ab�cfh6iao:7h°rMegy�oO#bqh6iuh°e%rGo>m§egc#bqh°o>x$jl`7hèo7y7a]buj �@egiuj]vR�c7iqhgfa.h¡amy7}wjl`Rht}fhMyfhgiqeMErGo:m.e6cDbJh"o>xÛrMo:sy7abq amy �eLbujphgi0y �Pfiqo7cfh"egyReiqa.bhdo>xXeMyhgOjlihghkia }:`Lj¶*amyO}cfegiuj]vROjl`7h ���%45- 1�35-6+ %4�3'�p

    _!`Rh�bqofrae§a]buj}foR>hgi0y7hMynjZhMy7rMoOfiqeg}fhG äfofrgameM��rLo7y7o7v o>i0}fe6y7a~ej0ao>yfbqNrMo:o7cfhgiqeBjlafhnbs7j]eMsfhMy7hMx0aj[bqofrahj0ahnb[eMy7eObJbqofraej0ao>yDb*7v }:amfamy7}buf#bqam>a§hObqxua]brneMamyfrLhyLjlahnb[eMy7 jpe¡fª7hGnrjlamo7yDb¡X_!`RhGve]bobufc7cfo7i]jphMcfhMeg[oOi0}fe6y7a~ej0ao>yfb·amya{jlao>yo>xÄrMhMynjliqeMmam~Lejpamo>yRa]b jl`7hbJhMrMo7y7¯eMay�xphMej]fihO"_�`7h°äRjpeBjphMæ b iqhOb0cfo7y:bqaa..aj0a§hnb >amtamyfa]bq`fhM¯eMy7%jl`RoWbh�o7x$mofrLerGo>sDy7aj0a§hnbÛamyfrgiqhLenbqhGDD_�`fh*jliegy:bqxphgiEeLbc7iqo>}7ihnbBbqaheMy7`7enb7ioRf}7`LjP#ieyRrMhrMmo¶bqh6iÄjoonjl`7h6i��fipo>cfhMe6yrMoOfynjli0amhObå �hMrMhMynjliegma~zejlao>y"bujlams.e¡jphM·jl`7hd7h>ho>cfhyLj@o>xDjl`7hkyRo>yzc7iqo:xla{j�bqhMr¡jpo>iåOekmoOjo7x[sDy7a§rMamcfe§a{jpa.hLb eMy77hgcfe6iuj0hyLjqb$7hM§hg}fejphG%bqo7hhMrMo7y7o:a§ro7i�bo:rMameM4mo:rGe"cfofa§rMa§hObjpoeLbBbqofrMamejpamo7yDb�o>i�b0`RegiqhM·jl`7hMai�yfh¡iqhnbpcfo>yfbqaDa§aj0a§hOb,ajl`djl`7hky7o7yOc7io>xla{j�bqhMr¡jpo>iJ

  • � �

    #iqo7�jl`7h[hMrMo7y7of«a§reMyR bo:rMameMcfo:amynjqbo>xdfa§hPjl`Rh�cfoWbljpªg±6³7²�"2cfhgi0ao:7ay[#iqeMy7rLheMyRhM]bqh¡`7hgihwa]br`RegiqeMr¡jphgiqa~LhM27v e2bqmoOh6i�}7iqoOdjl`2ipejph7�"%$ efhgieg}fh�}7ipoRdjl`¬ex.jph6i·jl`7h�xlamiBbuj*o7a.r6ia§bqabP±�$�ex.jph6i,jl`7hsbqhMrMo7y7o>am#r6ia]bqa]b¡µOz7j,jl`7hNegy7yLef}7iqoO·jl`iqeBjphkenb�yRhG>hgi�y7hg}fejpafhOR_!`RhbqmoO}7ioRdjl`R%�qo>amyLjjlojl`7h egi0i0afeM4o7y jl`Rhmegfo7i2e6i0Dh¡j[o7x[megi0}fh�c7iqo>oRjlamo7y:b¬o7xw>eg7v7ªu>o:o7hgiBbqc7ioR>o>fhM2}7ipoOsamyO} eMyRmofyO}fªjphgip y7hMcfmo>vfhMynjå@jl`Rhy7hMc:mo7v7hMynjNiqejph4i0oDbqhx]iqo: &�$ amy±6³7²:ÛjlooR>hgid±#"%$¯amy±6³7³:f

    ©�a{jp`2§hnb¡b*rMo7ynjli0aO7jpamo7yDbsx]iqof�hMc:o>vfhgiJbseMyR2hMc:mo7vfhMhOb*eMy72o7iqhtfy7hMc:mo7vfthMyLjNo7iihjlaiqhMhMynj�fh6y7hMx0a{jqb�jpotcfeGvR:jl`7hbqofrgameM#c7iqonjphMrjlamo7y�brM`7hMhRbU`fegfhshjUrMo7y:bljpegynj�xlamyfeMy7rMa§eX7hMxla.rLa{jqb¡ o>ihgoOfhgi2eMyOv�DyDbp:am.§hL vRoODyz}�cfhMo7cfmhM2hObpcfhnrMameM§v�a.tam}7iqeMynjqb��¬r`7a§§OiqhMy72e6iqh%amy�xpeMrjh¡frM7hMtx]iqo:jl`fhd§eG>o>i�egipfhj@eyR«x]iqof%bo:rMameM:hMy7hMx0ajqbP§amy7fhMjpohgscfmo>vfhMynjJM  oDbujXo7xDjl`7hM`Regfh¤>hMrMo:h¹qy7h�cfofoOi¡¹�o>i�Oipo7c7oOOjqbqfegyR*jl`RhdrMo7yfrMhgcOj@o>x�¹¡bqofrMameMDhgrM{Xbqamo:yD¹Uegc7cfhMegihMD �Nfiqamy7}jl`Rhsc7iqhfamoO#bcDh6iao::bWjl`7h·fyR7hgi0c7iqaDam§hM}fhMcfhGo>cfmhhgiqheMamy:mv"jl`7hhM.fhgiqv# �toOeG7eGvbqDjl`7egyz¶bjo�bpo:rga§eM,bhMrfiqa{jlv77jpo"rgo7ynjliqeGråj]egfiqhjla iqhMthMyLj�egyRtta.y7a§sD¯bljpejphdcfhgy:bqamofy:bq7jl`7hNh§7hgiqvZegiqhkhM§.ªo7xlx,o7i�eBj,hMenbujXyRoRj#cRo7o>iJµMjl`7hky7o7yOc7io>xla{j@o>ip}fegy7a~Lejpamo7yDb�`7egfhQjoteM �u#blj#jlo¤jl`7a.b�yRhcfoOfhgilj]vD

    �0y�7hgc7iqahG¯ayfn#bljli0a§eM[egiqhMeLbqblr`&enb$jl`7h�yRo>ilj]`7h6iy�7hgcfe6iuj0hyLjqb®o>i$*UoOi0iqegamyRhMjl`7hyRo>yzc7iqo7xua{jbhMrjpo7iEr6o7o7cfhgiqeBjphMajl`tmofrMeM#}foR>hgi0y7hMynj,jotc7i0oOfam7hs`7hMmc"eMyRamyfrMo:h«bufc7cfo7ij#jo«jl`7hfyRhM«cfmo>v>hM�yfh cfofo7iB �]j$enb jl`7hxlo7iqhnb0`ReM7oOamy7}�o:x2jl`7htamyfa.s amyfrMo:hxlo7ibqofrMa§eamyLjphg}7iqejpamo7y � ¸  ����cRo>ma§rgvffhMy7eMrjphGamy±6³�f

    _!`Rh ¸k  � bo:rMa§eM�cfofa§rgv�a]b a.cfo7ijpe6ynj$xlo7i2jl`7hyfo7yOc7io>xla{j bqhMr¡jpo>ipZ>hMrMeXbqhy7o7yOc7io:xuajo7i0}fegy7a ~Lejpamo>yfb*egiqh4rMo>yDbqa§7hgihM2enbNfhM`7a§rM.hOb*o7xde"cO:f§a.r"cfo:ma§rgvD@_P`7a]bsofxuxla§ra§eMeLrgfy7oOs§hMO}fhMhMynjxlofo>tb e°mo:yz}fªjphgiq 7h%xpeMrjpo�r6o7o>cfh6iqeåjlao>y�hj.hMhgy�y7o7yOc7iqo7xuaj�o7i0}fegy7am~Lejpamo7y:b eMy7�cO:fma]re¡7jl`7o7i0a{jla§hnbqÛhOb0cfhMrMa§eM.v®amy�hMc:mo7v7hMynj*cfo:ma.rgv eMy7�`fhMeM{jp` eMy7 bo:rMameMNeMr¡j0afa{jpa§hnb¡E¢bBbo:rMamejpamo7yDb`RhMchMc:mo7vfthMyLjEcRo>ma§rgv�7v4iufy7y7amy7}fDa{jl`4a.cfo>i]jpegyLjEcO7fma§r«x0amyfeMy7rMamy7}f �qoOfªjliegamy7ay7}4c7iqo7}7iqeg"bqhLb0cfhMrMa§eM.vxlo7iÄfyfb0fa.§.hGZo>ipfhgiBb¡f_�`7hgveM]bqo�iufy"`foDb0c7ajpe]bÛo7iÛrgmayfa§rnbÛeMy7�yLfiBbqamy7}`7ofhnb¡µ#oDbujo7x,jl`7oDbqhdfhMmo:yz}tjlo«jl`7hNcO7f.a§rs`7oDb0cfa{jpeM,bJhgiufa§rLhseMy7t`ReG>h·fhLhMy"x.DyR7hM�bqamyfrnh4±6³�:s7v4eMy"oOfhgie]h6y77oOhMynj c7iqoRfa7hM�7v�jl`7h�`7hLeM{jl`�amyDbufieyRrLh�bqofrga§eMbqhMr¡fiajuv$çkjl`7hgi�y7o7yOc7io:xuaj`7hLeM{jl`hLbujpef§abq`7hMynjqb`7egfh §hnb¡biqhg}Omejpamo>y eMy7y7h6}foRjlame¡jph eg}7iqhMhMhMyLjqb�a{jl`�jl`7h bo:r6a.eMtbJhGrfiqa{juv�jpo>hMy7hMx0a{j#jl`7aiqscfegilj]vscfegvfhMynjqb¡

    ¢ y7h rMo>yfrGhgi0y�egc7cfhMegiqhG&aj0`¯jl`Rh'iqa]bqh°o7xjl`fh°amttam}7iqe¡jlamo>y�c7ioRf§hM"b¡ eObBbqa#ha§ta}7iejlamo7y bujpo7c7cfhMamy±6³7²%&fEO7jmh6}fe|hMynjliuv a]bcfoWbJbqaf§h[xlo>icfhMo7c7mh��o:amy7ay7}$jl`7hMamitxleMa..a§hnbåèmeMy7fhnbujpamy7h·a§ta}7iej0ao>yrMo7ynjpamynhnbå7_P`7hdiqhMrGhyLj�amttam}7iqeMyLjqbqDhnbpcfhMrMa§e§vZ¢·m}fhgiqa§eMy:bq7  o7iqo:rGrMegy:b_,fy7a]bqa§eyfb*eyR �|.eGrg2¢Nxuiqa§rMeMyDbNegiho7iqh4>amx0xphgiqhMyLjp!x]iqof�hjl`7y7a§r�eMy7iqhM§a}famoO#bNcfo>amynjqb¤o:xQfa§hx]io:%jl`Rh«#iqhgyfrM`4cfo>cOf§ejlamo7y7¶jl`ReMyjl`Rh�ä7cfegy7a]bq`7 �@o7iuj]f}OhnbqhG �]jpegma.eMyDb|o>i �Xo7a]bq`o>x�jl`7h«c7ihGfaoR#ba§ta}7iejlamo7yxuoR"bå> o>iqhGoR>hgiqWjl`RhMaiQ#ihyRrM`47hRbrMhMy77eMynjqbÛ7o4y7oOjmofo>4mafhsjl`7heghgiqeg}fhs#iqhMy7rM`rMa{jpa~LhMyDbå¸|hMrMhMyLj�amta}7ieyLjqb�rMo7y7rMh6ynjliqejphkamy"bqofh·b07Ofi0DbX`7a§r``fegfh·bo:hjpamhRb�>hMrMo:hdOilf}e6y7t7hM§ayf¨nhMyRrGvZegihMeOb¡7_�`7a]bEa]b�jl`7hkeMrg7}7iqoOfy7o>x#jl`7hdiqeMrMa]buj,jph6y77hgyRra§hObUeMy7to7x¶jl`Rh¤iqa]bqhGDo>x =¡hLeMy

  • � �

     egiqamh *Uh �@hMyfæ b ��� %45- 1�35-6+ %4�3'�·cfo:ma{jpa§rMeMkcegiuj]vNä:o7hyfb"e6iqh2.amy7fhMjpo$jl`7h ���%45-1�35- + %4�3'�#egyRjl`Rha iEo7xuxpa.rMa§eM#eMama]bd¹qy7ejpamo7y7eMDa§7hMynjpa{juv«7hxlhMyfrMhz¹¡O¢NrMrMo7iq7ayz}sjpo*jl`RhM:a.tam}7iqejlao>ya]b�jl`7hdiqofonj@o>x@em#r¡fi0iqhMynj!>amxlx0a§rDj0a§hnbzy7hMcfmo>vfhMyOjl>fiu>egytamyDbJhMr¡fiajuvRDOiuf}DbUeMy77hM.amyf¨nhMy7rgv#µ_�o«xla}f`njXiqeMrMa]buj@am7hLenbqDbqofh·eMyLj0amªliqeMrMa]buj@enbBbo:rMame¡j0amo7y:bU`7egfhdfhMhMyrgiqhMe¡jphMtburM`eOb � � ��� 3 ��+ 7 07;�0yjl`RhhMeMynjpamhM«a{jl`jl`7h >a]bqe6c7cfhMegiqeMyfrMhM"amy�±6³#±Gto7x[e�c7iao>i¬eOjl`Ro>i0a ~Lejpamo>yÂxlo>i$xlo7iqhga}fy7h6ibJæeLbBbqofrMamejpamo7yDbq�amy7o7iqa{j0ahRbenbBbo:rMa§ejlamo7yDb$`fegfhxuoRfiqa]b0`fhM74hnbpcfhMrMa.eM§v �Bbq§ea§reRbJbqofrMamejpamo>yDb � £«�*h6cfh§�±6³z²%�BµLjl`7hMai�eMa.�a]b!>hgi0vofx.jphgy·jlosOam.oDbq¨nhnb�amy·fiu>eybufOfi0Dbå

    ©�a{jp` jl`Rh�7hGhgcfhMy7ay7} o>x�jl`7h�hMrMo7y7o:a§r�7hgc7iqhnbJbqamo:y�amy�jl`7h�±6³7³7´fæ bjl`7h�y7o7yOc7io>xlajo7i0}fegy7a ~Lejpamo>yfbdamynjphMy7fhMjpoOegiqtjl`7hbo:r6a.eM�amynjphg}7iqe¡jla.o7yo>xmo:yz}fªjphgi0°DyRhM«cfmo>v>hM7PbJrM`7ofo>@Oiqo7cfªoOOj!egy7onjl`7hgi�cfhgiBbo>yfbExpegiEx]iqof�jl`7h·§egfo7iEe6i0fhj�sDj0acfma§hnDR_!`RoWbh«¹qamynjphgiqhM7a.e6ivZhMynjph6i0c7i0a]bqhnb6¹qo7x.jphgya§~LhM7vyzc7iqo7xua{jQo>i0}fe6y7a~Lejpamo7yDb·blfc7c:mv"jph*cfo>iqe6iv"o7i0tjlo`RoR#bhM`7o:m:bcO7f§a.r�eg}fhMy7rMa§hnb o7ionjl`Rhgi enbBbo:rMame¡j0a§o7y:b¡ �0y¯jl`7hiqhGrMhMynj vRhMegiJbq2o7iqhcfo>ma{jpa§rMeMo7i0}fegy7a ~Lejpamo>yfb�egc7cfhLegiqhG«eM.bo:feMn>o:rMe¡jlayz}txlo7i¶jl`Rhkia }:`Ljqb�o>xDjl`Rhs¹ua{jl`7oO7j#i0a }:`Ljqb¡¹ � ¢Nrjpamo7yrMo7ynjliqhkmhr6`��:e6}fhM@�*iqo:a{jqbU7hgfeMynj �:xuam}f`njpamyO}«jl`Rh¤}fmo>>eM.am~Lejpamo7yteMyR«jl`7h¤© eLbq`7ay7}Ojpo7yrMo7y:bqhMyfbuXb¡7_�`7hsoDbujxpeMoO#b4o>yRh blfc7cfo>i]jqbtajl`�e$rM.ameG amyäfhne¡j.jl§h©�o7iqm�_!ieM7h$ç¤ip}fegy7am~Lejpamo>y èQo7y7xphgiqhMy7rLhjl`7h_�oO7amy jpe eg}feMamyDbuj4xlamyfeMy7rMa§e"bpcfhMr.e¡j0amo7y � ¢N_P_�¢sè¤a{jl`a{jqb'":f´7´7´hMh6iBb��¡|_!`RhRbh�eMyLj0amªhLbujpef§abq`7hMynj'o7i0}fegy7a~Le¡j0amo7y:b&egiqh ejjl`Rh�iqo7onjÂo>xÂe�yRh hgOjlihhMª0.hMx.j°oRhMhMynjp *a{jl`amyLjphgiqy7ejpamo7y7eM:§amy7Db¡

    _!`Rhtiqhnbu{j|o7xÄjl`Rh"rMo7y:bujpe6ynjEjphgyR7hMy7rgvyzc7iqo7xua{jNbhMrjpoOiQjo2eM �l#bujjlojl`Rh"rg`7eMyz}:amyf}a]b¡blhnbÛo:x�jl`7hrMafa§Pbo:rMamhjlv �qo:amyLjPjo«jl`7hhgy7rGoRfiqe6}fhhgyLjo7x�jl`7hrMhgyLjliqeM,e6y7�mofrMeM,}foOfh6i0y7hyLjqbka]bjl`Rh2enb¡bo:rMame¡j0amo7y�>o:o7�o:xNjl`7h2§eObujsjl`ziqhMh27hGrMeM7hOb¡E#iqo7 §hnb¡bjl`7eMy�±�:zm´7´7´ amy�jl`Rh�bqaOjpa.hObQjl`7hr6iqhMejlamo7y"ofx�enb¡bqofrMamejpamo>yfbPhMyLj�fc4hMeMrg`tv>hne6iPjlo"iqhMeMr¡`"o7iqh¤jl`ReyZ²7´7m´7´7´amy2±6³7³Oº#f_�`fhsy7o7yOc7iqo7xuajbhMrjpoOia]bEjl`7hgihxlo7iqhrgiqhGejlamyO} �qoO#bE`7a.§h«amyoWbljamy7O#bujli0amhObEjl`Rh«ynshgiÛo>x �qo>#bÛ7hMrM.amyfhM4nfiqamy7}jl`Rhk§enbujDj]o7hMrMeM7hLb¡

    ©�a{jp`¤jl`7a]b�iqhGrMhMynjXhg7cfeMyDbqamofy7njl`7hQWiqhMy7rM`sy7o7yOc7io:xuaj�bJhMrjo>iXabX7iqamy7}:amy7}s#iqeMy7rGhdroWbhgi,jlo·jl`7honjl`Rhgi ��7ipo>cfhMe6yrMoOfynjli0amhOb�amy·jl`7e¡j,xla§hM.7fh>hyamx,`7a]bljpo>iqamrMeMhgfhMynjqb�`Regfh·bq`7e6cfhM«a{j@7amxuxphgiqhMynjpv#

    �N¾«¿��d½+�Éf»¡¾¿

    _!`7a]bÛoOhgiBbqamc:§a.x0a§hMblfiuhgv4}:ahObÛeMya§7hMeo:xPjl`Rhhgi0v4mo:yz}[eMy747hLhgcfªuiqo7onjphM"`7a]bujpoOiuvofxjl`Rh yRo>yzc7iqo7xua{j®bqhMr¡jpo>iJ��]jjlo7o7¯a{j¬o7iqh jl`Regy�o>yRhrMhgyLj]fi0vjlo¯iqhGrgoOfhgi®egx.jphgi iqhnbljli0amrjlao>yDb®o7ic7io>`7afa{jpamo7yDbacfoDbqhMt7vjl`7h·¸|hgfo:{7jlao>y �oOh>hgiJ>jl`7e6yO#bPjlo"a{jqbÄh7ceMy:bqamo:yZoR>hgiPjl`RheRblj,jl`ziqhMh7hGrMeM7hnb@jl`Rhty7o7yOc7iqo:xla{jNbqhGrjpo>ida ywWiqeMy7rMh"a]b¤>hgi0v$bqa.a.§egiNamy2bqam~Oh«jo�jl`7ejÛamy�jl`7h"oOjl`7h6i �PRi0o7cfhMegy

  • � �

    rGoRfyLjli0amhnbZ�:;$ o7xQjl`Rh«jlonjpegUhMc:mo7vfthMyLjp "D " $Ço7xN£ ��� enbNiqhg}fe6iqOamyO}$o7cfhgiqe¡jlayO}¬hGRcfhMy77a{j]fiqhOb� ¢diqrM`7eMseDjk±6³7³7²7#äfegmo:o>yeMyR¢Ny7`7hMa§hgid±6³7³7³%�¡

    �px¶h¤iqh¡fabJa{j@y7oOjl`7hdmo>yz}fªjphgi0jliqhgyR:bUex.jph6i!jl`zabUoOfhgilfa.h¡>hNrMegy"bujpejphQjl`RejDjl`Rh·ej§jla{j]7hdo7x¶jl`7h}foOfh6i0y7hyLj,joRegiq¤jl`Rh¤yRo>yzc7iqo:xla{jEbhMrjpo7iQbp`7amx.jphMtx]iqo7%`RoWbljlam.a{jlvZnfiamyz}«jl`7h"±6²z³7ªg±6³7´,±Ûcfhgiqamo:sjloeNcfeMrMaxpa.rrMofhfa]bujphMyRrMhsnfiqamy7}tjl`7h«xlamiBbujU`7eMmxUo:xPºf´�� �ÄrLhgynj]fi0vZeMy74eMy"hgOjphgyDbqahsrGo:o7cfhgiqeBjlamo7y�amytjl`7hcfoDb]jpªegicfhgi0ao:DN_�`7abwrMofo>cfhgieåjlamo7y�thGeyfb[cO:fma§rx.y77ay7} � :�;$ o:xtjponjpegsihnbqoOfiqrMhnbwo:xtjl`7h�o7yOc7iqo7xuajtbhMrjpo7i«amy±6³7³:;�¡ �to7yOc7io>xla{jo>i0}fe6y7a~ej0ao>yfb"egiheM]bqo o7iqh[eMy7�o>iqh[rMo7yDbqamfhgiqhM enb¹Bbo:rMameMdcfegiljly7hgiBb6¹Zenb««hm*enb"§egfo7iqªfy7amofy:b"amy�rMof hMrjlafhe6i0}feMay7amy7}�o7i"amyjl`Rh2hM§egfo7iqejlamo7y o7ia§c:§hMhyLjpejlamo7yo7x!bo:rMameMfcfo:ma§ra§hnbå

    èo7ynhgiJbqhMvRWjl`Rhtè`nfiqrM`bq`7a.x.jphG�x]iqo:�7aihMrjeMyRe}fhMhMyLjo7xErM`Regiqa{jpegf.hamyDbujpa{j]7jlamo7yDbEjpoeso>ieamyDbpc:amiqejpamo7y"o7y«jl`fhs§hMeM7hgiJbÛo>xEoWblj�`7hLeM{jl`4eMy7«h§xqegiqh*o>i0}fe6y7a~Lejpamo7yDb¡%�P>hMytjl`7hsrMe¡jl`7o:ma§rtbqrM`7ofo>yRhj]o>i0"bhMrmegiqam~LhMDnXamyfeM.vR>h·xlamyfteM]bqo"esbqofrgameM.albuj@o>iEbo>mam7e6ia]blj�ayfb0cfamiqejpamo>yamyteN.e6i0}fh¤cfe6iujXo7xjl`RhQ#iqhgyRrM`«yRo>yzc7iqo7xua{j�bhMrjpo7i0fhnb0cfhGrae§vamysjl`7hdxla.hM§o>xXhMnrGej0ao>ye6y7«amys7j]eMDbqofrahj0ahRbå

    _!`ReyzDbjpo�a{jqbiq jpoegy7vrGo>m§hMrjpafhkc7iqo �JhMrjpnjloOaihMrjXc7i0afejphdamy7a{jpa.e¡jlahQjoRegipscO7fa§rdrMo7y7rLhgipyDbqOjloh7cfh6iamhMynjXy7h¡bqofrMameMamyDblj0a{j]7jlao>yfbdamynjphMy77hM"jpo�y7h�bo:rMameM�y7hMhM:bå �0yOfof>hLwamyeyOvwmo:rGe§,yfejlao>yfeM�eMyRwamyLjphgiqy7ejpamo7y7enyRhj]o>i0Dbjl`RhQ#iqhgyfrM`syRo>yzc7iqo>xla{j�bqhLrjo>i�a§b�e¤mamy7tamy·jl`Rhk}:o>feMfrMaDa§¶bo:rMamhjlv

    REFERENCES AGULHON, Maurice. 1848 ou l'apprentissage de la République. Paris. Seuil, 1973. ARCHAMBAULT Edith, The Nonprofit sector in France, Manchester, Manchester University Presse, 1997. ARCHAMBAULT Edith, "Le secteur associatif en France et dans le monde" in BLOCH-LAINE, Faire société. Les associations au c¦ur du social, Paris, Syros, 1999. BARTHELEMY Martine, Associations, un nouvel âge de la participation, Paris Presse de Sciences Po, 2000. BRAUDEL, Fernand. Civilisation matérielle, Economie et Capitalisme - XVe - XVIIIe siècle, Paris, Armand Colin, 1979. BRAUDEL, Fernand. L'identité en France, Tome I, Les hommes et les choses, Paris, Arthaud, 1986. EWALD, François. L'Etat Providence, Grasset, 1986. FOUCAULT, Michel. Histoire de la folie à l'âge classique. Paris: Gallimard, 1978. FOUCAULT, Michel. Surveiller et punir, Naissance de la prison. Paris : Gallimard, 1975.

  • � �

    FURET, François and Mona OZOUF (Ed). Dictionnaire critique de la Révolution Française. Paris: Flammarion, 1988. GIBAUD, B. De la mutualité à la sécurité sociale. Paris: Editions Ouvrières, 1986. GUERRAND, R.H. and RUPP, M.A. Brève histoire du service social en France. Paris: Editions Ouvrières, 1969. GUESLIN, André. L'invention de l'économie sociale, le XIXe siècle français. Paris: Economica, 1987. KEPEL, G. Les banlieues de l'Islam. Paris: Le Seuil, 1987. MOLLAT, Michel. Les pauvres au Moyen Age ; étude sociale. Paris: Hachette,1978. POMEY, Michel. Traité des fondations d'utilité publique. Paris: PUF, 1980. SALAMON Lester, ANHEIER Helmut et alii, Global civil society, Baltimore, Johns Hoplins University, 1999. TOCQUEVILLE, Alexis de. De la démocratie en Amérique. 1835. Paris : Gallimard, 1951. TOCQUEVILLE, Alexis de. L'Ancien Régime et la Révolution. 1856. Paris : Gallimard-Idées, 1964. ULLMAN Claire, "New social partners : nonprofit organisations and the welfare state in France. Annual meeting of the American Political Science Association, Washington, May 1993. VOVELLE, M. (Ed). L'Etat de la France pendant la Révolution. Paris: La Découverte, 1988. ZELDIN Theodor. France 1848 - 1945. Oxford University Press, Ambition, love and politics, 1973 - Intellect, taste and anxiety.

    HISTORICAL ROOTS OF THE NONPROFIT SECTOR IN FRANCE

    _______________________

    Edith Archambault, Professor at Paris-Sorbonne University

  • � �

    Maison des Sciences Economiques 106-112, Bd de l'Hôpital

    75647 Paris cedex 13, France phone : 331 44 07 81 29

    fax : 331 44 07 83 36 e-mail: [email protected]

    Submitted to Nonprofit and Voluntary Sector Quarterly,

    special Symposium, décember 2000

  • ���

    ������������

    ���������������������! � ��� � ���#"%$ � ���'&(")�*�+�)� � �*� �-,��� "!$.�/�� � 102� � ����� $�34����$ ��� ,+� ���'5 � ��$ � �

    $6��$�� � �+7�" �2� � �� � � �+"�7�78� �9� "%$ � � �� " �;:<��=� � � �>� �� "�?��@� $�� � � ����� " �� ��� ���� ��� � �A�B"%$�$�"%$��C�B7 � ���

    DFE�GIH � �$ � � � � � �6� � ��$ ��� ��"�?���� ���J�� �+K �L��� � � �+"%$�� � � M��� �+" � ")��$�� �� "%$�� �6��AN#� � � ���.DO6PBE

    QM��/>�+�%� � ")��$ ,+� ��� ���J�� �4� � � ���4R���$����6�+�! S�B7���� � ��" � "%$ � � � � ���T� ��$ � � � $ � K#����" �2��� �+" � ")��$

    � � ��� ���U 1�)� ��� 78� �� �V"%$ � ��� ��: �$ � ")� � � � �$ � � � ,� $��W$���$�� � �+7�" � � � � $�"�? � ")�*$ � RX��� � "%����")���

    ��� � "%$�� � ���'� ����;� � � ���Y�*� �� ��� � "%$���/>� � .7�")�A�)�C�+7���� � ��" � "%$ � � � � ��� K#����" �2��� ��$�� :C��

    �$ � ��� � ����� � � ��� � �$ ��� � $��#�)� �� �;�*��/>� � $�RZ�A$ ��� "%$ �6� � ")���C�+7[��� � ��$ ���- ��"�? � ")��$ $��

    02� � ���6� $\"%$ � �@� �A� ")��$TK^]#� � ��$ ��� ��"�? �� ")��$.�+7�78� �9�_ � � � �� ������� ��� ��$>" � 178� �2� �6�V5 � �$ � �

    $6��$�� � �+7�" �2� � �� � �F`�� ��$�/>� �9� �A�! , $6��$�� � �+7�" � � � � $>"�? �� ")��$ � � � ��/�")��� � �+���)� �� "a/>� � � � /*" � � � "%$ $

    � � � � $ � "a/>� :C $6� �� $��+7�7b� �_ $ $ � ")��� � � � �W� �� �$ �T� ��$ ��� ��"�? �� ")��$ � ��$6����$ � ")� � K

    cL�d : � � � � e $���$�� � �B7f" �g� � ��� � �,���9� � � " � ")��$ �, 78���B$�� � ")��$ �, ��� � ��$ ��� ��"�? �� ")��$ , � � "%/ �� ��h

    �*� � ��" � � ���� $�� �9� ��"%� ,i� � � " �6�6�+��" � ")� � K

  • � �