$&&(662,5(6
6+5('*8$5'
/HVGHVWUXFWHXUVGHGRFXPHQWV.2%5$76jKDXWHVpFXULWp
³+6´SHXYHQWrWUHpTXLSpVVXUGHPDQGHGXV\VWqPH³6+5('
*8$5'´0(7$/'(7(&7,216<67(0
&HV\VWqPHGpWHFWHODSUpVHQFHGHFRUSVPpWDOOLTXHVTXHOOH
TXHVRLWODWDLOOHLQWURGXLWVDFFLGHQWHOOHPHQWGDQVO¶RXYHUWXUH
GHVGHVWUXFWHXUVGHGRFXPHQWVHWEORTXHLPPpGLDWHPHQW
O¶DSSDUHLODYDQWTX¶LOVQ¶DWWHLJQHQWOHVFRXWHDX[GHFRXSHDILQGH
SURORQJHUODGXUpHGHYLHGHVFRXWHDX[
,167$//$7,21
/HV\5('*8$5'Q¶DSDVEHVRLQG¶XQHLQVWDOODWLRQ
SDUWLFXOLqUHSXLVTX¶LOHVWGpMjSUpGLVSRVpGDQVO¶DSSDUHLOHQ
XVLQH
)21&7,211(0(17ILJ
$SUqVDYRLUEUDQFKpO¶DSSDUHLODXVHFWHXUDSSX\HUVXU
O¶LQWHUUXSWHXU212))(/DEDUUHOXPLQHXVH)VHPHWj
FOLJQRWHUSHQGDQWVHFRQGHVHQYLURQSHUPHWWDQWDXV\VWqPH
³0(7$/'(7(&7,216<67(0´GHV¶DFWLYHU
/RUVTXHODEDUUHOXPLQHXVH)V¶pWHLQWYRWUHGHVWUXFWHXUGH
GRFXPHQWVHVWSUrWjO¶HPSORL
,QWURGXLUHGHVIHXLOOHVGDQVO¶RXYHUWXUHODEDUUHOXPLQHXVH)
V¶DOOXPHHWO¶DSSDUHLOFRPPHQFHDXWRPDWLTXHPHQWODGHVWUXFWLRQ
6LGHVDJUDIHVRXGHVREMHWVPpWDOOLTXHVTXHOOHTXHVRLWODWDLOOH
VRQWDFFLGHQWHOOHPHQWLQWURGXLWVDYHFOHVIHXLOOHVGDQVO¶RXYHUWXUH
O¶DSSDUHLOV¶DUUrWHDXWRPDWLTXHPHQWDYDQWTXHOHVREMHWV
Q¶DWWHLJQHQWOHVFRXWHDX[GHFRXSH/DSUpVHQFHGHFRUSV
PpWDOOLTXHVHVWVLJQDOpHSDUODEDUUHOXPLQHXVH)FOLJQRWDQWH
$SSX\HUVXUODWRXFKH5(9(56(HWO¶DSSDUHLOIDLWPDUFKH
DUULqUHSHUPHWWDQWDLQVLjO¶RSpUDWHXUGHUHWLUHUPDQXHOOHPHQWOHV
FRUSVPpWDOOLTXHVSUpVHQWVVXUOHVIHXLOOHVGHSDSLHU
(QVXLWHO¶DSSDUHLOjQRXYHDXSUrWSRXUODGHVWUXFWLRQ
$77(17,21$XPRPHQWGHODPLVHHQURXWHOHV\VWqPH
6+5('*8$5'DEHVRLQGHVHFRQGHVHQYLURQSRXU
V¶DFWLYHU
3HQGDQWFHWHPSVODEDUUHOXPLQHXVH)FOLJQRWHHWWRXWHVOHV
IRQFWLRQVGHGHVWUXFWLRQVRQWLQDFWLYHV
$120$/,(6
(QFDVGHSUREOqPHVDYHFYRWUHGHVWUXFWHXUGHGRFXPHQWVFRQWU{OH]OHVV\PSW{PHVHWOHVVROXWLRQVGpFULWVFLGHVVRXV
$XFDVRLOQHVHUDLWSDVSRVVLEOHGHUpVRXGUHOHSUREOqPHFRQWDFWH]OHUHYHQGHXU.REUDOHSOXVSURFKH
1¶RXYUH]SDVODSDUWLHVXSpULHXUHGXGHVWUXFWHXUGHGRFXPHQWV
SRXUWHQWHUGHOHUpSDUHU5LVTXHGHFKRFpOHFWULTXH
HWDQQXODWLRQGHODJDUDQWLH
352%/Ê0(
&200(176(0$1,)(67(7,/
&$86(
62/87,21
/HGHVWUXFWHXUGH
GRFXPHQWVQHGpPDUUH
SDV
R
/DEDUUHOXPLQHXVH)HWOH
YR\DQW(1(5*<60$57*
QHV¶DOOXPHQWSDV
R
/DOHGV¶DOOXPH
R
/DOHGV¶DOOXPH
R
/DEDUUHOXPLQHXVH)
V¶DOOXPH
R
/¶LQWHUUXSWHXU(HVWVXU
ODSRVLWLRQ2))
R
/HFRUGRQ
G¶DOLPHQWDWLRQQ¶HVWSDV
FRUUHFWHPHQWEUDQFKp
R
$EVHQFHGHWHQVLRQ
VHFWHXUVXUODSULVH
R
/DSRUWH$Q¶HVWSDV
FRUUHFWHPHQWIHUPpH
R
/HVDF'HVWSOHLQ
R
0RWHXUVXUSURWHFWLRQ
WKHUPLTXH
R
$SSX\HUVXUO¶LQWHUUXSWHXU
(
R
&RQWU{OHUVLOHFRUGRQ
G¶DOLPHQWDWLRQHVW
FRUUHFWHPHQWEUDQFKpDX
VHFWHXU
R
9pULILHUVLODWHQVLRQ
VHFWHXUHVWSUpVHQWHVXU
ODSULVH
R
)HUPHUFRUUHFWHPHQWOD
SRUWH
R
9LGHUOHVDF
R
$WWHQGUHPLQXWHVOH
WHPSVGHODLVVHUUHIURLGLU
OHPRWHXU
/HGHVWUXFWHXUGH
GRFXPHQWVQHV¶DUUrWH
SOXV
R
,QGLFDWHXUEDUUHOXPLQHXVH
)DOOXPpJURXSHHQPDUFKH
R
)UDJPHQWVHWRXVDOHWpV
SUpVHQWVVXURXHQWUH
OHVFHOOXOHV
SKRWRpOHFWULTXHV$HW
$
R
5HWLUHUOHVGpS{WVVH
WURXYDQWVXUOHVFHOOXOHV
SKRWRpOHFWULTXHVRX
GpJDJHUOHVFHOOXOHV
5pGXFWLRQGHODFDSDFLWp
GHFRXSH
R
&DSDFLWpUpGXLWHSDUUDSSRUW
j ODFDSDFLWpHQUHJLVWUpH
DYHFXQJURXSHJUDLVVp
R
$EVHQFHG¶KXLOHVXUOHV
JURXSHVGHFRXSH
R
5HPSODFHUOHUpVHUYRLU
G¶KXLOHYLGHDYHFXQ
UpVHUYRLUSOHLQ
)($785(6
7KH.2%5$76PRGHOVDUHVKUHGGHUVVXLWDEOHIRUVLQJOH
FRPSXWHUSULQWRXWV&'5206'9'6)/233<',6.6DQG
&5(',7&$5'6
)RUWHFKQLFDOVSHFLILFDWLRQVDQGVKUHGGLQJFDSDFLW\VHHWDEOHRQ
SDJH
,167$//$7,21
)RUPDFKLQHVZLWKDGHWDFKDEOHSRZHUSOXJXVHDQHDVLO\
DFFHVVLEOHVRFNHWLQWKHYLFLQLW\RIWKHPDFKLQH
2QFHWKHPDFKLQHKDVEHHQXQSDFNDJHGRSHQWKHGRRU$
WDNHRXWWKHVWDQG%DVLQGLFDWHGLQILJXUHDQGWDNHRXWWKH
EDJKROGHU&
)LWWKHSODVWLFEDJ'ZKLFKFRPHVZLWKWKHPDFKLQHWRWKHEDJ
KROGHU&DQGUHSRVLWLRQLWRQIUDPH%
3UHVVWKHIUDPH%IXOO\LQWRSODFHDQGFORVHWKHGRRU$
7KH.2%5$76VKUHGGHUVFRPHZLWKDFDIRU
VHSDUDWHFROOHFWLRQRI&'V'9'V)/233<',6.VDQG&5(',7
&$5'6
728&+6&5((1WHFKQRORJ\
R
.2%5$76VKUHGGHUVFRPHZLWK728&+6&5((1
WHFKQRORJ\
6KUHGGHUIXQFWLRQVDUHDFWLYDWHGE\VLPSO\EUXVKLQJWKH
GHVLUHGIXQFWLRQRQWKHFRQWUROSDQHO
)25:$5'EUXVKWKH)25:$5'EXWWRQDQGWKH
VKUHGGHUSXWVWKHFXWWLQJEODGHVLQWRIRUZDUGJHDUDQG
FDUULHVRXWDVKUHGGLQJF\FOHZKLFKODVWVDERXWVHFRQGV
PDNLQJLWSRVVLEOHWRVKUHGWUDQVSDUHQWPDWHULDOZKLFK
PLJKWQRWDFWLYDWHWKHHOHFWURQLFH\HVSKRWRFHOOV
6723%UXVKWKH6723EXWWRQDQGWKHPDFKLQH
VWRSVLQVWDQWO\
5(9(56(%UXVKWKH5(9(56(EXWWRQDQGWKHVKUHGGHU
SXWVWKHFXWWLQJEODGHVLQWRUHYHUVH
2,/6LJQDOVWKDWWKHVKUHGGHULVRXWRIRLO
86,1*7+(6+5(''(5)LJ
2QFHWKHVKUHGGHUKDVEHHQSOXJJHGLQSUHVVWKH212))(
WKHOHG)RQWKHFRQWUROSDQHOOLJKWVXSDQGWKHPDFKLQHLV
UHDG\IRURSHUDWLRQ
,IWKHVKUHGGHULVWKHQQRWXVHGIRUVHFRQGVWKHOHGEDU)
VZLWFKHVRIIDQGWKHPDFKLQHJRHVRQVWDQGE\DQG]HUR
FRQVXPSWLRQDQGWKH(1(5*<60$57*OHGFRPHVRQ
:KHQPDWHULDOWREHVKUHGGHGLVLQVHUWHGWKHPDFKLQHVZLWFKHV
RQDJDLQDXWRPDWLFDOO\,IWKHVKUHGGHULVQRWXVHGIRUIRXUKRXUV
WKHPDFKLQHDXWRPDWLFDOO\FXWVRIIWKHSRZHUVXSSO\DQG
VZLWFKHVRIIWKH(1(5*<60$57OHG*
7RVZLWFKWKHVKUHGGHUEDFNRQSUHVVWKH212))VZLWFK(
6+5('',1*6,1*/(6+((76)LJ
:KHQVKHHWVDUHLQVHUWHGLQWRWKHSDSHUWKURDWWKHOHGOLJKW
EDU)FRPHVRQLIRIIDQGWKHPDFKLQHDXWRPDWLFDOO\VWDUWV
VKUHGGLQJDVWZRHOHFWURQLFH\HV$ORFDWHGLQVLGHWKHWKURDW
GHWHFWWKHPRYHPHQWRIWKHVKHHWVRISDSHU7KHQRQFHWKH
VKHHWVKDYHEHHQVKUHGGHGWKHFXWWLQJEODGHVVWRS
DXWRPDWLFDOO\DIWHUDIHZVHFRQGV
7KHVKUHGGHULVILWWHGZLWKD/2$'0(7(5ZKLFKDOORZVIRU
FRQVWDQWPRQLWRULQJRIWKHVKUHGGLQJFDSDFLW\RI\RXUPDFKLQH
,QVHUWWKHVKHHWVWREHVKUHGGHGLQWKHSDSHUWKURDWDQGWKH
OHGFRPHVRQ
7KHOLJKWLQJVHTXHQFHRIWKHOHGGHSHQGVRQWKHTXDQWLW\RI
SDSHULQVHUWHGLQWRWKHVKUHGGHU
)RUFRQWLQXRXVDQGHIILFLHQWVKUHGGLQJWU\WRHQVXUHWKDWRQO\WKH
ILUVWIRXUEOXHOHGVRQWKHORDGPHWHUDUHRQ
,IWKHTXDQWLW\RISDSHULQFUHDVHVWKHUHVWRIWKHOHGVOLJKWXS
ILUVWWKH\HOORZDQGWKHQWKHUHGOLJKWV
,IWKHTXDQWLW\RISDSHULQVHUWHGH[FHHGVWKHVKUHGGLQJFDSDFLW\
RIWKHPDFKLQHWKHVKUHGGHUFXWVRXWDQGWKHSDSHUMDPOLJKW
FRPHVRQ
7KHVKUHGGHUWKHQJRHVLQWRDXWRPDWLFUHYHUVHIRUDIHZ
VHFRQGVWRIUHHWKHFXWWLQJEODGHVDQGWKHQVWRSV
5HPRYHWKHH[FHVVSDSHUIURPWKHWKURDWWRIUHHWKH
HOHFWURQLFH\HVWKHQLQVHUWDVPDOOHUTXDQWLW\RISDSHULQWRWKH
WKURDGDQGWKHPDFKLQHZLOODXWRPDWLFDOO\EHJLQDQHZVKUHGGLQJ
F\FOH
,WLVUHFRPPHQGHGWKDWSDSHUMDPVFDXVHGE\LQVHUWLQJ
H[FHVVLYHTXDQLWLWLHVRISDSHUEHNHSWWRDPLQLPXPDQGWKH
PDFKLQHEHRSHUDWHGDWOHVVWKDQPD[LPXPFDSDFLW\LQRUGHUWR
SURORQJWKHOLIHRIWKHPHFDKQLFDOSDUWVDQGWKHVKUHGGHU
$&&(662,5(6
6+5('*8$5'
/HVGHVWUXFWHXUVGHGRFXPHQWV.2%5$76jKDXWHVpFXULWp
³+6´SHXYHQWrWUHpTXLSpVVXUGHPDQGHGXV\VWqPH³6+5('
*8$5'´0(7$/'(7(&7,216<67(0
&HV\VWqPHGpWHFWHODSUpVHQFHGHFRUSVPpWDOOLTXHVTXHOOH
TXHVRLWODWDLOOHLQWURGXLWVDFFLGHQWHOOHPHQWGDQVO¶RXYHUWXUH
GHVGHVWUXFWHXUVGHGRFXPHQWVHWEORTXHLPPpGLDWHPHQW
O¶DSSDUHLODYDQWTX¶LOVQ¶DWWHLJQHQWOHVFRXWHDX[GHFRXSHDILQGH
SURORQJHUODGXUpHGHYLHGHVFRXWHDX[
,167$//$7,21
/HV\5('*8$5'Q¶DSDVEHVRLQG¶XQHLQVWDOODWLRQ
SDUWLFXOLqUHSXLVTX¶LOHVWGpMjSUpGLVSRVpGDQVO¶DSSDUHLOHQ
XVLQH
)21&7,211(0(17ILJ
$SUqVDYRLUEUDQFKpO¶DSSDUHLODXVHFWHXUDSSX\HUVXU
O¶LQWHUUXSWHXU212))(/DEDUUHOXPLQHXVH)VHPHWj
FOLJQRWHUSHQGDQWVHFRQGHVHQYLURQSHUPHWWDQWDXV\VWqPH
³0(7$/'(7(&7,216<67(0´GHV¶DFWLYHU
/RUVTXHODEDUUHOXPLQHXVH)V¶pWHLQWYRWUHGHVWUXFWHXUGH
GRFXPHQWVHVWSUrWjO¶HPSORL
,QWURGXLUHGHVIHXLOOHVGDQVO¶RXYHUWXUHODEDUUHOXPLQHXVH)
V¶DOOXPHHWO¶DSSDUHLOFRPPHQFHDXWRPDWLTXHPHQWODGHVWUXFWLRQ
6LGHVDJUDIHVRXGHVREMHWVPpWDOOLTXHVTXHOOHTXHVRLWODWDLOOH
VRQWDFFLGHQWHOOHPHQWLQWURGXLWVDYHFOHVIHXLOOHVGDQVO¶RXYHUWXUH
O¶DSSDUHLOV¶DUUrWHDXWRPDWLTXHPHQWDYDQWTXHOHVREMHWV
Q¶DWWHLJQHQWOHVFRXWHDX[GHFRXSH/DSUpVHQFHGHFRUSV
PpWDOOLTXHVHVWVLJQDOpHSDUODEDUUHOXPLQHXVH)FOLJQRWDQWH
$SSX\HUVXUODWRXFKH5(9(56(HWO¶DSSDUHLOIDLWPDUFKH
DUULqUHSHUPHWWDQWDLQVLjO¶RSpUDWHXUGHUHWLUHUPDQXHOOHPHQWOHV
FRUSVPpWDOOLTXHVSUpVHQWVVXUOHVIHXLOOHVGHSDSLHU
(QVXLWHO¶DSSDUHLOjQRXYHDXSUrWSRXUODGHVWUXFWLRQ
$77(17,21$XPRPHQWGHODPLVHHQURXWHOHV\VWqPH
6+5('*8$5'DEHVRLQGHVHFRQGHVHQYLURQSRXU
V¶DFWLYHU
3HQGDQWFHWHPSVODEDUUHOXPLQHXVH)FOLJQRWHHWWRXWHVOHV
IRQFWLRQVGHGHVWUXFWLRQVRQWLQDFWLYHV
$120$/,(6
(QFDVGHSUREOqPHVDYHFYRWUHGHVWUXFWHXUGHGRFXPHQWVFRQWU{OH]OHVV\PSW{PHVHWOHVVROXWLRQVGpFULWVFLGHVVRXV
$XFDVRLOQHVHUDLWSDVSRVVLEOHGHUpVRXGUHOHSUREOqPHFRQWDFWH]OHUHYHQGHXU.REUDOHSOXVSURFKH
1¶RXYUH]SDVODSDUWLHVXSpULHXUHGXGHVWUXFWHXUGHGRFXPHQWV
SRXUWHQWHUGHOHUpSDUHU5LVTXHGHFKRFpOHFWULTXH
HWDQQXODWLRQGHODJDUDQWLH
352%/Ê0(
&200(176(0$1,)(67(7,/
&$86(
62/87,21
/HGHVWUXFWHXUGH
GRFXPHQWVQHGpPDUUH
SDV
R
/DEDUUHOXPLQHXVH)HWOH
YR\DQW(1(5*<60$57*
QHV¶DOOXPHQWSDV
R
/DOHGV¶DOOXPH
R
/DOHGV¶DOOXPH
R
/DEDUUHOXPLQHXVH)
V¶DOOXPH
R
/¶LQWHUUXSWHXU(HVWVXU
ODSRVLWLRQ2))
R
/HFRUGRQ
G¶DOLPHQWDWLRQQ¶HVWSDV
FRUUHFWHPHQWEUDQFKp
R
$EVHQFHGHWHQVLRQ
VHFWHXUVXUODSULVH
R
/DSRUWH$Q¶HVWSDV
FRUUHFWHPHQWIHUPpH
R
/HVDF'HVWSOHLQ
R
0RWHXUVXUSURWHFWLRQ
WKHUPLTXH
R
$SSX\HUVXUO¶LQWHUUXSWHXU
(
R
&RQWU{OHUVLOHFRUGRQ
G¶DOLPHQWDWLRQHVW
FRUUHFWHPHQWEUDQFKpDX
VHFWHXU
R
9pULILHUVLODWHQVLRQ
VHFWHXUHVWSUpVHQWHVXU
ODSULVH
R
)HUPHUFRUUHFWHPHQWOD
SRUWH
R
9LGHUOHVDF
R
$WWHQGUHPLQXWHVOH
WHPSVGHODLVVHUUHIURLGLU
OHPRWHXU
/HGHVWUXFWHXUGH
GRFXPHQWVQHV¶DUUrWH
SOXV
R
,QGLFDWHXUEDUUHOXPLQHXVH
)DOOXPpJURXSHHQPDUFKH
R
)UDJPHQWVHWRXVDOHWpV
SUpVHQWVVXURXHQWUH
OHVFHOOXOHV
SKRWRpOHFWULTXHV$HW
$
R
5HWLUHUOHVGpS{WVVH
WURXYDQWVXUOHVFHOOXOHV
SKRWRpOHFWULTXHVRX
GpJDJHUOHVFHOOXOHV
5pGXFWLRQGHODFDSDFLWp
GHFRXSH
R
&DSDFLWpUpGXLWHSDUUDSSRUW
j ODFDSDFLWpHQUHJLVWUpH
DYHFXQJURXSHJUDLVVp
R
$EVHQFHG¶KXLOHVXUOHV
JURXSHVGHFRXSH
R
5HPSODFHUOHUpVHUYRLU
G¶KXLOHYLGHDYHFXQ
UpVHUYRLUSOHLQ
)($785(6
7KH.2%5$76PRGHOVDUHVKUHGGHUVVXLWDEOHIRUVLQJOH
FRPSXWHUSULQWRXWV&'5206'9'6)/233<',6.6DQG
&5(',7&$5'6
)RUWHFKQLFDOVSHFLILFDWLRQVDQGVKUHGGLQJFDSDFLW\VHHWDEOHRQ
SDJH
,167$//$7,21
)RUPDFKLQHVZLWKDGHWDFKDEOHSRZHUSOXJXVHDQHDVLO\
DFFHVVLEOHVRFNHWLQWKHYLFLQLW\RIWKHPDFKLQH
2QFHWKHPDFKLQHKDVEHHQXQSDFNDJHGRSHQWKHGRRU$
WDNHRXWWKHVWDQG%DVLQGLFDWHGLQILJXUHDQGWDNHRXWWKH
EDJKROGHU&
)LWWKHSODVWLFEDJ'ZKLFKFRPHVZLWKWKHPDFKLQHWRWKHEDJ
KROGHU&DQGUHSRVLWLRQLWRQIUDPH%
3UHVVWKHIUDPH%IXOO\LQWRSODFHDQGFORVHWKHGRRU$
7KH.2%5$76VKUHGGHUVFRPHZLWKDFDIRU
VHSDUDWHFROOHFWLRQRI&'V'9'V)/233<',6.VDQG&5(',7
&$5'6
728&+6&5((1WHFKQRORJ\
R
.2%5$76VKUHGGHUVFRPHZLWK728&+6&5((1
WHFKQRORJ\
6KUHGGHUIXQFWLRQVDUHDFWLYDWHGE\VLPSO\EUXVKLQJWKH
GHVLUHGIXQFWLRQRQWKHFRQWUROSDQHO
)25:$5'EUXVKWKH)25:$5'EXWWRQDQGWKH
VKUHGGHUSXWVWKHFXWWLQJEODGHVLQWRIRUZDUGJHDUDQG
FDUULHVRXWDVKUHGGLQJF\FOHZKLFKODVWVDERXWVHFRQGV
PDNLQJLWSRVVLEOHWRVKUHGWUDQVSDUHQWPDWHULDOZKLFK
PLJKWQRWDFWLYDWHWKHHOHFWURQLFH\HVSKRWRFHOOV
6723%UXVKWKH6723EXWWRQDQGWKHPDFKLQH
VWRSVLQVWDQWO\
5(9(56(%UXVKWKH5(9(56(EXWWRQDQGWKHVKUHGGHU
SXWVWKHFXWWLQJEODGHVLQWRUHYHUVH
2,/6LJQDOVWKDWWKHVKUHGGHULVRXWRIRLO
86,1*7+(6+5(''(5)LJ
2QFHWKHVKUHGGHUKDVEHHQSOXJJHGLQSUHVVWKH212))(
WKHOHG)RQWKHFRQWUROSDQHOOLJKWVXSDQGWKHPDFKLQHLV
UHDG\IRURSHUDWLRQ
,IWKHVKUHGGHULVWKHQQRWXVHGIRUVHFRQGVWKHOHGEDU)
VZLWFKHVRIIDQGWKHPDFKLQHJRHVRQVWDQGE\DQG]HUR
FRQVXPSWLRQDQGWKH(1(5*<60$57*OHGFRPHVRQ
:KHQPDWHULDOWREHVKUHGGHGLVLQVHUWHGWKHPDFKLQHVZLWFKHV
RQDJDLQDXWRPDWLFDOO\,IWKHVKUHGGHULVQRWXVHGIRUIRXUKRXUV
WKHPDFKLQHDXWRPDWLFDOO\FXWVRIIWKHSRZHUVXSSO\DQG
VZLWFKHVRIIWKH(1(5*<60$57OHG*
7RVZLWFKWKHVKUHGGHUEDFNRQSUHVVWKH212))VZLWFK(
6+5('',1*6,1*/(6+((76)LJ
:KHQVKHHWVDUHLQVHUWHGLQWRWKHSDSHUWKURDWWKHOHGOLJKW
EDU)FRPHVRQLIRIIDQGWKHPDFKLQHDXWRPDWLFDOO\VWDUWV
VKUHGGLQJDVWZRHOHFWURQLFH\HV$ORFDWHGLQVLGHWKHWKURDW
GHWHFWWKHPRYHPHQWRIWKHVKHHWVRISDSHU7KHQRQFHWKH
VKHHWVKDYHEHHQVKUHGGHGWKHFXWWLQJEODGHVVWRS
DXWRPDWLFDOO\DIWHUDIHZVHFRQGV
7KHVKUHGGHULVILWWHGZLWKD/2$'0(7(5ZKLFKDOORZVIRU
FRQVWDQWPRQLWRULQJRIWKHVKUHGGLQJFDSDFLW\RI\RXUPDFKLQH
,QVHUWWKHVKHHWVWREHVKUHGGHGLQWKHSDSHUWKURDWDQGWKH
OHGFRPHVRQ
7KHOLJKWLQJVHTXHQFHRIWKHOHGGHSHQGVRQWKHTXDQWLW\RI
SDSHULQVHUWHGLQWRWKHVKUHGGHU
)RUFRQWLQXRXVDQGHIILFLHQWVKUHGGLQJWU\WRHQVXUHWKDWRQO\WKH
ILUVWIRXUEOXHOHGVRQWKHORDGPHWHUDUHRQ
,IWKHTXDQWLW\RISDSHULQFUHDVHVWKHUHVWRIWKHOHGVOLJKWXS
ILUVWWKH\HOORZDQGWKHQWKHUHGOLJKWV
,IWKHTXDQWLW\RISDSHULQVHUWHGH[FHHGVWKHVKUHGGLQJFDSDFLW\
RIWKHPDFKLQHWKHVKUHGGHUFXWVRXWDQGWKHSDSHUMDPOLJKW
FRPHVRQ
7KHVKUHGGHUWKHQJRHVLQWRDXWRPDWLFUHYHUVHIRUDIHZ
VHFRQGVWRIUHHWKHFXWWLQJEODGHVDQGWKHQVWRSV
5HPRYHWKHH[FHVVSDSHUIURPWKHWKURDWWRIUHHWKH
HOHFWURQLFH\HVWKHQLQVHUWDVPDOOHUTXDQWLW\RISDSHULQWRWKH
WKURDGDQGWKHPDFKLQHZLOODXWRPDWLFDOO\EHJLQDQHZVKUHGGLQJ
F\FOH
,WLVUHFRPPHQGHGWKDWSDSHUMDPVFDXVHGE\LQVHUWLQJ
H[FHVVLYHTXDQLWLWLHVRISDSHUEHNHSWWRDPLQLPXPDQGWKH
PDFKLQHEHRSHUDWHGDWOHVVWKDQPD[LPXPFDSDFLW\LQRUGHUWR
SURORQJWKHOLIHRIWKHPHFDKQLFDOSDUWVDQGWKHVKUHGGHU
FEATURES
The KOBRA 410TS models are shredders suitable for single
computer printouts,CD-ROMS,DVDS,FLOPPY DISKS and
CREDIT CARDS.
For technical specifications and shredding capacity see table on
page.22
INSTALLATION
For machines with a detachable power plug, use an easily
accessible socket in the vicinity of the machine.
Once the machine has been unpackaged, open the door (A),
take out the stand (B) as indicated in figure 1, and take out the
bag holder (C).
Fit the plastic bag (D) which comes with the machine, to the bag
holder (C) and reposition it on frame (B).
Press the frame (B) fully into place and close the door (A).
The KOBRA 410TS shredders come with a canvas bag (H) for
separate collection of CDs/DVDs/FLOPPY DISKs and CREDIT
CARDS.
TOUCH SCREEN technology.
o
KOBRA 410TS shredders come with TOUCH SCREEN
technology.
Shredder functions are activated by simply brushing the
desired function on the control panel.
-FORWARD: brush the FORWARD button and the
shredder puts the cutting blades into forward gear and
carries out a shredding cycle which lasts about 7 seconds
making it possible to shred transparent material which
might not activate the electronic eyes /photo cells.
-STOP: Brush the STOP button and the machine
stops instantly.
-REVERSE: Brush the REVERSE button and the shredder
puts the cutting blades into reverse.
-OIL : Signals that the shredder is out of oil.
USING THE SHREDDER Fig.4
Once the shredder has been plugged in, press the ON/OFF (E),
the led (F) on the control panel lights up and the machine is
ready for operation.
If the shredder is then not used for 8 seconds the led bar (F)
switches off and the machine goes on stand-by and zero
consumption and the ENERGY SMART (G) led comes on.
When material to be shredded is inserted the machine switches
on again automatically. If the shredder is not used for four hours,
the machine automatically cuts off the power supply and
switches off the ENERGY SMART led (G).
To switch the shredder back on, press the ON/OFF switch (E).
SHREDDING SINGLE SHEETS Fig.4
When sheets are inserted into the paper throat (1) the led light
bar (F) comes on (if off) and the machine automatically starts
shredding as two electronic eyes (1A) located inside the throat
detect the movement of the sheets of paper.Then, once the
sheets have been shredded, the cutting blades stop
automatically after a few seconds.
The shredder is fitted with a LOAD METER (2), which allows for
constant monitoring of the shredding capacity of your machine.
Insert the sheets to be shredded in the paper throat (1) and the
led (2) comes on.
The lighting sequence of the led (2) depends on the quantity of
paper inserted into the shredder.
For continuous and efficient shredding, try to ensure that only the
first four blue leds on the load meter (2) are on.
If the quantity of paper increases, the rest of the leds light up;
first the yellow, and then the red lights.
If the quantity of paper inserted exceeds the shredding capacity
of the machine, the shredder cuts out and the paper jam light (3)
comes on.
The shredder then goes into automatic reverse for a few
seconds to free the cutting blades and then stops.
Remove the excess paper from the throat (1) to free the
electronic eyes, then insert a smaller quantity of paper into the
throad and the machine will automatically begin a new shredding
cycle.
It is recommended that paper jams caused by inserting
excessive quanitities of paper be kept to a minimum and the
machine be operated at less than maximum capacity in order to
prolong the life of the mecahnical parts and the shredder.