ǼȜȜȘȞȚțȐ
- 10 -
ȆȜȘȡȠijȠȡȓİȢıȤİIJȚțȐȝİIJȘȞIJİȜȚțȒįȚȐșİıȘ
>ǼȣȡȦʌĮȧțȒDzȞȦıȘ@
ȉĮ ıȪȝȕȠȜĮ ĮȣIJȐ įİȓȤȞȠȣȞ ȩIJȚ Ƞ ȘȜİțIJȡȚțȩȢ țĮȚ Ƞ
ȘȜİțIJȡȠȞȚțȩȢİȟȠʌȜȚıȝȩȢțĮȚȠȚȝʌĮIJĮȡȓİȢȝİĮȣIJȩIJȠ
ıȪȝȕȠȜȠįİȞșĮʌȡȑʌİȚıIJȠIJȑȜȠȢIJȘȢȦijȑȜȚȝȘȢȗȦȒȢ
IJȠȣȢȞĮĮʌȠȡȡȓʌIJȠȞIJĮȚȝĮȗȓȝİIJĮıȣȞȘșȚıȝȑȞĮȠȚțȚĮțȐ
ĮʌȠȡȡȓȝȝĮIJĮǹȞIJȓĮȣIJȠȪIJĮʌȡȠȧȩȞIJĮșĮʌȡȑʌİȚȞĮ
ʌĮȡĮįȓįȠȞIJĮȚıIJĮĮȡȝȩįȚĮıȘȝİȓĮıȣȜȜȠȖȒȢȖȚĮIJȘȞ
ĮȞĮțȪțȜȦıȘȘȜİțIJȡȚțȠȪțĮȚȘȜİțIJȡȠȞȚțȠȪİȟȠʌȜȚıȝȠȪ
țĮșȫȢ țĮȚ ȝʌĮIJĮȡȚȫȞ ȖȚĮ țĮIJȐȜȜȘȜȘ İʌİȟİȡȖĮıȓĮ
ĮȞȐțIJȘıȘ ȣȜȚțȫȞ țĮȚ ĮȞĮțȪțȜȦıȘ ıȪȝijȦȞĮ ȝİ IJȘȞ
İșȞȚțȒıĮȢȞȠȝȠșİıȓĮțĮȚIJȘȞȅįȘȖȓĮǼǼțĮȚ
ǼǼ
Ȃİ IJȘ ıȦıIJȒ ĮʌȩȡȡȚȥȘ ĮȣIJȫȞ IJȦȞ ʌȡȠȧȩȞIJȦȞ șĮ
ıȣȝȕȐȜȜİIJİ ıIJȘ įȚĮIJȒȡȘıȘ IJȦȞ İșȞȚțȫȞ ʌȩȡȦȞ țĮȚ
ıIJȘȞʌȡȩȜȘȥȘİȞįİȤȠȝȑȞȦȞĮȡȞȘIJȚțȫȞİʌȚʌIJȫıİȦȞ
ıIJȠ ʌİȡȚȕȐȜȜȠȞ țĮȚ IJȘȞ ĮȞșȡȫʌȚȞȘ ȣȖİȓĮ ʌȠȣ șĮ
ȝʌȠȡȠȪıİ ĮȜȜȚȫȢ ȞĮ ʌȡȠțȜȘșİȓ Įʌȩ ĮțĮIJȐȜȜȘȜȘ
ȝİIJĮȤİȓȡȚıȘIJȠȣʌȡȠȧȩȞIJȠȢĮȣIJȠȪȦȢĮʌȩȕȜȘIJȠȣ
īȚĮ ʌİȡȚııȩIJİȡİȢ ʌȜȘȡȠijȠȡȓİȢ ıȤİIJȚțȐ ȝİ IJĮ
ıȘȝİȓĮ ıȣȜȜȠȖȒȢ țĮȚ IJȘȞ ĮȞĮțȪțȜȦıȘ ĮȣIJȫȞ IJȦȞ
ʌȡȠȧȩȞIJȦȞ ʌĮȡĮțĮȜȠȪȝİ ȞĮ İʌȚțȠȚȞȦȞȒıİIJİ ȝİ IJȠ
IJȠʌȚțȩȖȡĮijİȓȠIJȠȣįȒȝȠȣıĮȢIJȘȞIJȠʌȚțȒȣʌȘȡİıȓĮ
ıȣȜȜȠȖȒȢȠȚțȚĮțȫȞĮʌȠȕȜȒIJȦȞȒIJȠțĮIJȐıIJȘȝĮȩʌȠȣ
ʌȡȠȝȘșİȣIJȒțĮIJİIJȠʌȡȠȧȩȞ
ǼȞįȑȤİIJĮȚȞĮȑȤȠȣȞİijĮȡȝȠȖȒʌȠȚȞȑȢȖȚĮĮțĮIJȐȜȜȘȜȘ
ĮʌȩȡȡȚȥȘĮȣIJȠȪIJȠȣIJȪʌȠȣĮʌȠȕȜȒIJȦȞıȪȝijȦȞĮȝİ
IJȘȞİșȞȚțȒȞȠȝȠșİıȓĮ
>ǼʌĮȖȖİȜȝĮIJȓİȢȤȡȒıIJİȢ@
ǹȞșȑȜİIJİȞĮĮʌȠȡȡȓȥİIJİĮȣIJȩIJȠʌȡȠȧȩȞİʌȚțȠȚȞȦȞȒıIJİ
ȝİIJȠȞʌȡȠȝȘșİȣIJȒıĮȢțĮȚİȜȑȖȟIJİIJȠȣȢȩȡȠȣȢțĮȚIJȚȢ
ʌȡȠȨʌȠșȑıİȚȢIJȠȣıȣȝȕȠȜĮȓȠȣĮȖȠȡȐȢıĮȢ
>DZȜȜİȢȤȫȡİȢİțIJȩȢIJȘȢǼȣȡȦʌĮȧțȒȢDzȞȦıȘȢ@
ǹȣIJȐIJĮıȪȝȕȠȜĮȑȤȠȣȞȚıȤȪıIJȘȞǼȣȡȦʌĮȧțȒDzȞȦıȘ
ǹʌİȣșȣȞșİȓIJİ ıIJȚȢ IJȠʌȚțȑȢ ıĮȢ ĮȡȤȑȢ ȖȚĮ ȞĮ
ʌȜȘȡȠijȠȡȘșİȓIJİ ıȤİIJȚțȐ ȝİ IJȘȞ ĮʌȩȡȡȚȥȘ țĮȚ IJȘȞ
ĮȞĮțȪțȜȦıȘ
ȉȠʌȡȠȧȩȞțĮȚȘıȣıțİȣĮıȓĮșĮʌȡȑʌİȚȞĮʌĮȡĮįȠșȠȪȞ
ıIJȠIJȠʌȚțȩıĮȢıȘȝİȓȠıȣȜȜȠȖȒȢȖȚĮĮȞĮțȪțȜȦıȘ
ȅȡȚıȝȑȞĮıȘȝİȓĮıȣȜȜȠȖȒȢįȑȤȠȞIJĮȚʌȡȠȧȩȞIJĮȤȦȡȓȢ
ȤȡȑȦıȘ
ȈȘȝİȓȦıȘ
ȉȠıȒȝĮ3EțȐIJȦĮʌȩIJȠıȪȝȕȠȜȠIJȦȞ
ȝʌĮIJĮȡȚȫȞȣʌȠįȘȜȫȞİȚȩIJȚȘȝʌĮIJĮȡȓĮʌİȡȚȑȤİȚȝȩȜȣȕįȠ
ȆȡȠȧȩȞIJĮ
ȂʌĮIJĮȡȓĮ
ȆȡȠįȚĮȖȡĮijȑȢ
ȉȘȜİȠʌIJȚțȩıȒȝĮ
3$/%*,'.
6(&$0%*'.
ȁĮȝȕĮȞȩȝİȞĮțĮȞȐȜȚĮ
9+)ȂȆǹȃȉǹ,,,,
8+)ȂȆǹȃȉǹ8
ȊȆǼȇǼȊȇȊǽȍȃǿȀȅȈ
ȉȅȂǼǹȈ
ȌȘijȚĮțȒȜȒȥȘ
ȆȜȒȡȦȢİȞıȦȝĮIJȦȝȑȞȘ
ȥȘijȚĮțȒİʌȓȖİȚĮ
țĮȜȦįȚĮțȒ
IJȘȜİȩȡĮıȘ'9%7&
ıİıȣȝȝȩȡijȦıȘȝİ
'9%7
ǹȡȚșȝȩȢ
ʌȡȠıȣȞIJȠȞȚȗȩȝİȞȦȞ
țĮȞĮȜȚȫȞ
1 000
DzȞįİȚȟȘțĮȞĮȜȚȠȪ
DzȞįİȚȟȘİʌȓIJȘȢȠșȩȞȘȢ
26'
ǼȓıȠįȠȢțİȡĮȓĮȢ5)
ȍȤȦȡȓȢĮȞIJȚıIJȐșȝȚıȘ
ȉȐıȘȜİȚIJȠȣȡȖȓĮȢ
9$&+]
dzȤȠȢ
ȈȪıIJȘȝĮȈIJİȡİȠijȦȞȚțȩ
īİȡȝĮȞȚțȩ1LFDP
DzȟȠįȠȢĮțȠȣıIJȚțȒȢ
ȚıȤȪȠȢ:506
ȠȜȚțȒĮȡȝȠȞȚțȒ
ʌĮȡĮȝȩȡijȦıȘ
[
ȀĮIJĮȞȐȜȦıȘȡİȪȝĮIJȠȢ
:
:
ȀĮIJĮȞȐȜȦıȘȡİȪȝĮIJȠȢ
ıİȜİȚIJȠȣȡȖȓĮǹȞĮȝȠȞȒȢ
ȝİȡİȪȝĮįȚțIJȪȠȣ:
< 2
ǻȚĮıIJȐıİȚȢIJȘȜİȩȡĮıȘȢ
Ǻ[Ȃ[ȊȝİȕȐıȘPP
[[
ǻȚĮıIJȐıİȚȢIJȘȜİȩȡĮıȘȢ
Ǻ[Ȃ[ȊȤȦȡȓȢȕȐıȘ
PP
[[
ȅșȩȞȘ
43“
ĬİȡȝȠțȡĮıȓĮ
ȜİȚIJȠȣȡȖȓĮȢțĮȚȣȖȡĮıȓĮ
ȜİȚIJȠȣȡȖȓĮȢ
&ȑȦȢ&ıȤİIJ
ȣȖȡĮıȓĮȝȑȖ
ǼȜȜȘȞȚțȐ
- 11 -
ȆȡȠįȚĮȖȡĮijȑȢʌȠȝʌȠȪĮıȪȡȝĮIJȠȣ/$1
ȆİȡȚȠȤȑȢıȣȤȞȠIJȒIJȦȞ
ȂȑȖǿıȤȪȢİȟȩįȠȣ
0+]&+&+
P:
0+]&+&+
P:
0+]&+&+
P:
0+]&+
&+
P:
ȆİȡȚȠȡȚıȝȠȓȕȐıİȚȤȫȡĮȢ
ǹȣIJȒ Ș ıȣıțİȣȒ ʌȡȠȠȡȓȗİIJĮȚ ȖȚĮ ȠȚțȚĮțȒ ȤȡȒıȘ
țĮȚ ȤȡȒıȘ ȖȡĮijİȓȠȣ ıİ ȩȜİȢ IJȚȢ ȤȫȡİȢ IJȘȢ ǼǼ țĮȚ
ȐȜȜİȢȤȫȡİȢʌȠȣĮțȠȜȠȣșȠȪȞIJȘıȤİIJȚțȒȠįȘȖȓĮǼǼ
ȤȦȡȓȢ țĮȞȑȞĮ ʌİȡȚȠȡȚıȝȩ İțIJȩȢ Įʌȩ IJȚȢ ȤȫȡİȢ ʌȠȣ
ĮȞĮijȑȡȠȞIJĮȚʌĮȡĮțȐIJȦ
ȋȫȡĮ
ȆİȡȚȠȡȚıȝȩȢ
ǺȠȣȜȖĮȡȓĮ
ǹʌĮȚIJİȓIJĮȚȖİȞȚțȒİȟȠȣıȚȠįȩIJȘıȘȖȚĮȤȡȒıȘ
ıİ İȟȦIJİȡȚțȩ ȤȫȡȠ țĮȚ ȖȚĮ ȣʌȘȡİıȓİȢ
țȠȚȞȠȪ
ǿIJĮȜȓĮ
ǹȞ ȤȡȘıȚȝȠʌȠȚİȓIJĮȚ İțIJȩȢ IJȠȣ ȚįȚȦIJȚțȠȪ
ȤȫȡȠȣĮʌĮȚIJİȓIJĮȚȖİȞȚțȒİȟȠȣıȚȠįȩIJȘıȘ
ǼȜȜȐįĮ
ȋȡȒıȘ ıİ İıȦIJİȡȚțȩ ȤȫȡȠ ȝȩȞȠ ȖȚĮ IJȘ
ȗȫȞȘ0+]ȑȦȢ0+]
ȁȠȣȟİȝȕȠȪȡȖȠ
ǹʌĮȚIJİȓIJĮȚȖİȞȚțȒİȟȠȣıȚȠįȩIJȘıȘȖȚĮįȓțIJȣȠ
țĮȚ ʌĮȡȠȤȒ ȣʌȘȡİıȚȫȞ ȩȤȚ ȖȚĮ ijȐıȝĮ
ıȣȤȞȠIJȒIJȦȞ
ȃȠȡȕȘȖȓĮ
Ǿ ȡĮįȚȠİțʌȠȝʌȒ ĮʌĮȖȠȡİȪİIJĮȚ ȖȚĮ IJȘ
ȖİȦȖȡĮijȚțȒ ʌİȡȚȠȤȒ İȞIJȩȢ ĮțIJȓȞĮȢ
ȤȚȜȚȠȝȑIJȡȦȞĮʌȩIJȠțȑȞIJȡȠIJȠȣ1\cOHVXQG
ȇ Ȧ ı Ț ț Ȓ
ȅȝȠıʌȠȞįȓĮ
ȋȡȒıȘȝȩȞȠıİİıȦIJİȡȚțȩȤȫȡȠ
ǿıȡĮȒȜ
ǽȫȞȘ ıȣȤȞȠIJȒIJȦȞ *+] ȝȩȞȠ ȖȚĮ IJȘȞ
ʌİȡȚȠȤȒ0+]0+]
ȅȚ ĮʌĮȚIJȒıİȚȢ ȖȚĮ ȠʌȠȚĮįȒʌȠIJİ ȤȫȡĮ ȝʌȠȡİȓ ȞĮ
ĮȜȜȐȟȠȣȞȠʌȠȚĮįȒʌȠIJİıIJȚȖȝȒȈȣȞȚıIJȐIJĮȚȠȤȡȒıIJȘȢ
ȞĮ ıȣȝȕȠȣȜİȪİIJĮȚ IJȚȢ IJȠʌȚțȑȢ ĮȡȤȑȢ ıȤİIJȚțȐ ȝİ IJȘȞ
IJȡȑȤȠȣıĮțĮIJȐıIJĮıȘIJȦȞİșȞȚțȫȞIJȠȣȢțĮȞȠȞȚıȝȫȞ
ıȤİIJȚțȐ ȝİ IJĮ ĮıȪȡȝĮIJĮ įȓțIJȣĮ /$1 ıIJȘ ȗȫȞȘ
ıȣȤȞȠIJȒIJȦȞ*+]