52
<DUYLN*R7DEVXUISODWWDlUXWUXVWDGPHGHQLQE\JJG%OXHWRRWKPRGXOI|UDWWDQVOXWDPHG%OXHWRRWK
NRPSDWLEHONULQJXWUXVWQLQJVnVRPPXVWDQJHQWERUGK|JWDODUHRFKK|UOXUDU
)|U%OXHWRRWKNQDSSHQ3n$YWLOO³2Q´3nI|UDWWDNWLYHUD%OXHWRRWK
1lUGHWlUDNWLYHUDWNRPPHU<DUYLN*R7DEVXUISODWWDDXWRPDWLVNWDWWE|UMDV|NDHIWHUQlUOLJJDQGH
%OXHWRRWKHQKHWHU'XNDQDOOWLGV|NDHIWHU%OXHWRRWKHQKHWHUPDQXHOOWJHQRPDWWNOLFNDSn³6HDUFKIRU
'HYLFHV´6|NHIWHUHQKHWHUOlQJVWXSSWLOOK|JHUSnVNlUPHQ
'HWNDQYDUDQ|GYlQGLJWDWWDQVOXWHQNULQJXWUXVWQLQJSODFHUDVL³SDLULQJPRGH´SDUNRSSOLQJVOlJH6H
NULQJXWUXVWQLQJHQVLQVWUXNWLRQVKDQGERNI|UPHULQIRUPDWLRQRPGHWWD
$OODIXQQDHQKHWHUNRPPHUDWWYLVDVLOLVWDQ³$YDLODEOH'HYLFHV´WLOOJlQJOLJDHQKHWHU
.OLFNDSnGHQIXQQD%OXHWRRWKHQKHWHQI|UDWWSDUDLKRS<DUYLN*R7DEVXUISODWWDPHGGHQ
)|QVWUHW³%OXHWRRWKSDLULQJUHTXHVW´%OXHWRRWKSDUNRSSOLQJVI|UIUnJDQYLVDV
'HIOHVWD%OXHWRRWKHQKHWHUNUlYHUHQ3,1NRGI|UDWWDQVOXWD'HQQDNRGlUYDQOLJWYLVHOOHU
.RQVXOWHUDGLQ%OXHWRRWKHQKHWVLQVWUXNWLRQVKDQGERNRP3,1NRGHQLQWHVWlPPHU
'nGXKDUDQJLYLWNRUUHNW3,1NRGWU\FNHUGXSn³2.´
<DUYLN*R7DEVXUISODWWDNRPPHUGXDWWE|UMDSDUNRSSODPHGGLQ%OXHWRRWKHQKHWRFKHIWHUQnJUD
VHNXQGHUNRPPHUDQVOXWQLQJHQDWWYDUDIlUGLJRFKYLVDHWWPHGGHODQGH³&RQQHFWHG´DQVOXWHQXQGHU
JlOODQGH%OXHWRRWKHQKHWLOLVWDQ³$YDLODEOH'HYLFHV´WLOOJlQJOLJDHQKHWHU
'XNDQDQVOXWDIOHUD%OXHWRRWKHQKHWHUWLOOGLQ<DUYLN*R7DEI|UDWWDQYlQGDSnVDPPDJnQJWH[PXV
RFKWDQJHQWERUG
SV
7$%(8.B46*B[PPLQGG