',63(16,1*
&2))((
+27:
$7(5
+27:$7(5
7XUQ
WKH
NQRE
FRXQWHU
FORFNZLVH
WR
VWDUW
GLVSHQ
VLQJ
&ORVH
WKH
NQRE
ZKHQ
¿QLVKHG
5HPRYHWKHFRQWDLQHU
3UHVV
WKH
EXWWRQ
WR
UHVWRUH
WKH
PDFKLQH
WR
QRUPDO
RSHUDWLRQ
:
RWZDWHUDQGVWHDPPD\FDXVHEXUQV'LUHFWWKHVWHDPZDQGWRZDUGWKHGULSWUD\
0DNH
VXUH
WKDW
WKH
PD
FKLQHLVUHDG\
:KHQ
WKH
PDFKLQH
VWRSV
PDNLQJ
WKH
FRI
IHH
UHPRYH
WKHFXSRUFXSV
6HOHFW
WKH
SURGXFW
³3UH
JURXQGFRI
IHH´
:KHQ
WKH
PDFKLQH
VWRSV
PDNLQJ
WKH
FRI
IHH
UHPRYH
WKHFXS
&2))((%($16
35(
*52
81'
&2
))(
(
2U
2U
2U
6WHDGLO\OLW
3RVLWLRQ
D
ZDUP
FRI
IHH
FXS
RU
FXSV
XQGHU
WKH
FRI
IHH
GLVSHQVHU
3UHVV
WKH
GHVLUHG
FRI
IHH
EXWWRQ 2QFHIRUFXS
7ZLFH
IRU
FXSV
RU
DGRXEOH
VKRW
3RVLWLRQ
D
ZDUP
FRI
IHH
FXS
XQGHUWKHFRI
IHHGLVSHQVHU
3XW
RQH
OHYHO
VFRRS
RI
HV
SUHVVRSUHJURXQGFRI
IHH
0$;6&223
3(5&83
3UHVV
WKH
GHVLUHG
FRI
IHH
EXWWRQ
3ODFH
DFRQWDLQHU
XQGHU
WKH
VWHDPZDQG
3UHVVWKHKRWZDWHU