1HSRXåtYHMWHGLJLWiOQtYLGHRNDPHUXYEOt]NRVWLWHOHYL]RUXQHERUiGLD
3ĜLSRXåLWtGLJLWiOQtYLGHRNDPHU\YEOt]NRVWLVLOQpKR]GURMHHOHNWURPDJQHWLFNêFKYOQQHERPDJQHWXMDNRMVRXUR]KODVRYpY\VtODþN\
QHERHOHNWULFNi]DĜt]HQtE\VHY]D]QDPHQDQpPREUD]XD]YXNXPRKOREMHYLWãXP3ĜLSĜHKUiYiQtQRUPiOQČQDKUDQpKR
DXGLRYL]XiOQtKR]i]QDPXE\VHWDNpPRKOREMHYLWREUD]RYêD]YXNRYêãXP9QHMKRUãtPSĜtSDGČE\PRKORGRMtWLNSRUXãH
YLGHRNDPHU\
1HY\VWDYXMWHGLJLWiOQtYLGHRNDPHUXGêPXQHERSiĜH
+XVWêGêPQHERSiUDE\PRKO\SRãNRGLWWČORGLJLWiOQtYLGHRNDPHU\QHER]SĤVRELWSRUXFKX
1HSRXåtYHMWHGLJLWiOQtYLGHRNDPHUXYSĜtWRPQRVWLDJUHVLYQtFKSO\QĤ
3RNXGMHGLJLWiOQtYLGHRNDPHUDSRXåtYiQDQDPtVWČNGHMVRXKXVWpYêIXNRYpSO\Q\]HVSDORYDFtFKPRWRUĤQHERDJUHVLYQtSO\Q\
MDNRVLURYRGtNPRKORE\GRMtWNHNRUR]LYQČMãtFKQHERYQLWĜQtFKNRQWDNWĤFRåE\]QHPRåQLORQRUPiOQtSURYR]SĜtSDGQČNHNRUR]L
NRQWDNWĤEDWHULHFRåE\]QHPRåQLOR]DSQXWtNDPHU\
1HSRXåtYHMWHGLJLWiOQtYLGHRNDPHUXYSĜtWRPQRVWLXOWUD]YXNRYêFK]YOKþRYDþĤ
9iSQtNDMLQpOiWN\UR]SXãWČQpYHYRGČVHUR]SW\OXMtYHY]GXFKXDMHMLFKþiVWLFHE\PRKO\SĜLOQRXWNRSWLFHYLGHRNDPHU\þtPåE\
]QHPRåQLO\MHMtQRUPiOQtSURYR]
1HþLVWČWHWČORGLJLWiOQtYLGHRNDPHU\EHQ]HQHPQHERĜHGLGOHP
0RKORE\GRMtWNRGORXSQXWtYQČMãtKRSOiãWČQHERNSRãNR]HQtSRYUFKXWČOD
3ĜLSRXåtYiQtþLVWLFtKRKDGĜtNXQDSXãWČQpKRFKHPLNiOLtVHĜLćWHSRN\Q\
8GUåXMWHSDPČĢRYRXNDUWX]GRVDKXGČWtDE\MLQHVSRONO\
3URRGSRMHQtSĜtVWURMHRGQDSiMHQtMHWĜHEDY\WiKQRXW]iVWUþNX]H]iVXYN\3URWRE\QDSiMHFt]iVWUþNDPČODEêWYåG\GRVWXSQi
27e728ä,9$7(/6.e3ěË58ý&(
'ČNXMHPHYiP]D]DNRXSHQtYLGHRNDPHU\6DPVXQJ7XWRXåLYDWHOVNRXSĜtUXþNXVLSĜHGSRXåtYiQtPYLGHRNDPHU\SHþOLYČSĜHþWČWHDPČMWH
MLSRUXFHSUREXGRXFtUHIHUHQFL3RNXGYDãHYLGHRNDPHUDQHEXGHVSUiYQČIXQJRYDWSRGtYHMWHVHQDNDSLWROX2GVWUDĖRYiQtSUREOpPĤ
0RGHO\60;.60;.PDMt]DEXGRYDQRXSDPČĢW\SXÀDVKVNDSDFLWRX*%DOHSRXåtYDMtWDNpSDPČĢRYpNDUW\0RGHO\
60;.PDMt]DEXGRYDQRXSDPČĢW\SXÀDVKVNDSDFLWRX*%DOHSRXåtYDMtWDNpSDPČĢRYpNDUW\0RGHO60;.60;.
QHPi]DEXGRYDQRXSDPČĢW\SXÀDVKDSRXåtYiYêKUDGQČSDPČĢRYpNDUW\3ĜHVWRåHVHQČNWHUpIXQNFHPRGHOĤ60;.
60;.60;.60;.60;.VHOLãtIXQJXMtYãHFKQ\VWHMQČ
9WpWRXåLYDWHOVNpSĜtUXþFHMVRXSRXåLW\LOXVWUDFHPRGHOX60;.
=REUD]HQtYWpWRXåLYDWHOVNpSĜtUXþFHQHPXVHMtSĜHVQČRGSRYtGDWWČPNWHUiYLGtWHQD/&'GLVSOHML
1iYUK\DWHFKQLFNp~GDMHXNOiGDFtFKPpGLtDGDOãtKRSĜtVOXãHQVWYtVHPRKRX]PČQLWEH]SĜHGFKR]tKRXSR]RUQČQt
9SRSLVHFKIXQNFtXYHGHQêFKYWpWRXåLYDWHOVNpSĜtUXþFH]QDPHQiLNRQD]REUD]HQtQDGLVSOHMLQHERV\PEROY]iYRUNiFKåHVHGDQê
V\PEROREMHYtQDREUD]RYFHSĜLSRXåLWtSĜtVOXãQpIXQNFH
1DSĜSRORåNDSRGĜt]HQpQDEtGN\9LGHR5HVROXWLRQ5R]OLãHQtYLGHD
¬
VWUDQD
•
•
•
•
•
•
•
•
•
•
•
•
•
SRORåND REVDK
]REUD]HQtQD
PRQLWRUX
796XSHU)LQH791HMONY
9WRPWRUHåLPXMHUR]OLãHQt¿OPRYpKRVQtPNX[LYVXSHUY\VRNpNYDOLWČ
.G\åMHWDWRIXQNFHDNWLYRYiQDQDREUD]RYFHVHREMHYtLNRQD
3RSLV\YHVWDYČQpSDPČWLYWpWRSĜtUXþFHVHWêNDMtSRX]HQiVOHGXMtFtFKPRGHOĤ60;..*%60;.*%
,QIRUPDFHROLFHQFLNRWHYĜHQpPX]GURMRYpPXNyGXQDMGHWHYVRXERUXÄ2SHQ6RXUFH,QIRSGI³QDGRGDQpPGLVNX&'
•
•