Download as pdf or txt
Download as pdf or txt
You are on page 1of 9

3RZHU4XDOLW\6ROXWLRQV

3RZHU)DFWRU&RUUHFWLRQ&DSDFLWRUV>@
+HDY\'XW\ 6XSHU $33 /7;/8OWUD+HDY\'XW\
6WDQGDUG'XW\ *DV)LOOHG +HDY\'XW\
3DUDPHWHUV
&\OLQGULFDO %R[ &\OLQGULFDO %R[ &\OLQGULFDO &\OLQGULFDO %R[ &\OLQGULFDO %R[
2YHUFXUUHQW
ZLWKVWDQGFDSDELOLW\ [,Q [,Q [,Q [,Q [,Q [,Q [,Q [,Q [,Q

2SHUDWLQJORVVHV :N9$U :N9$U :N9$U :N9$U :N9$U :N9$U :N9$U :N9$U :N9$U
3HDN,QUXVKFXUUHQW
ZLWKVWDQGFDSDELOLW\ [,Q [,Q [,Q [,Q [,Q [,Q [,Q [,Q [,Q

1XPEHURIVZLWFKLQJ
RSHUDWLRQVSHU\HDU         

0D[7HPSHUDWXUH 2
 &  & 2
 &2 2
 &  &2 2
 & 2
 & 2
 & 2&
2SHUDWLQJOLIH KUV KUV KUV KUV KUV KUV KUV KUV KUV

6WDQGDUG'XW\ +HDY\'XW\
&DSDFLWRUV &DSDFLWRUV
053 053
N9$U 9ROWDJH N9$U 9ROWDJH
7\SH C  7\SH C 
5DWLQJ 9 5DWLQJ 9
SHUN9$U SHUN9$U

WR   WR 


&\OLQGULFDO
WRN9$U6HULHV/7&&) WR   WR 9 
WRN9$U6HULHV/7&&'
WR   1HZ WR 
&\OLQGULFDO6HULHV
WR   WR 
%R[ /7&&+ 9
WRN9$U6HULHV/7%&) WR     
WRN9$U6HULHV/7%&'
WR   WR 
9
WR 

WR 
*DV)LOOHG
WR 9 
&DSDFLWRUV
WR 
053 %R[6HULHV
N9$U 9ROWDJH WR 
7\SH C  /7%&+
5DWLQJ 9 9
SHUN9$U WR 
   WR 
WR   9
WR 
  
&\OLQGULFDO6HULHV/7&&1 WR

 6WDQGDUG'XW\3ULPH&DSDFLWRUV
WR 
N9$U 9ROWDJH 053 C 
WR  7\SH
5DWLQJ 9 SHUN9$U

WR 
&\OLQGULFDO6HULHV/7&&9 WR 9 

5IFCSBOEOFX4UBOEBSEEVUZ#PYDBQBDJUPS
7KHLQVROXWLRQ XJUIJOCVJMU.$#BOE-&%JOEJDBUJPO
nÐ$LOOB@QFLKÐLCÐMLTBOÐC>@QLOÐ?VÐ0Q>KA>OAÐARQVÐ@>M>@FQLO
nÐ*KAF@>QFLKÐLCÐ@>M>@FQLOÐEB>IQEÐPQ>QRPÐ?VÐ)"!
nÐ1OLQB@QFLKÐ>KAÐFPLI>QFLKÐ?VÐFK?RFIQÐ* 
$POWFOJFOU4VJUBCMFGPS
7UDQVIRUPHUFRPSHQVDWLRQ
'LUHFWPRWRUFRPSHQVDWLRQ
N9$U 053 C 
9ROWDJH &DW1R
5DWLQJ 3HU8QLW
 /7%&0% 
 /7%&0% 
 /7%&0% 
 /7%&0% 
9
 /7%&0% 
 /7%&0% 
 /7%&0% 
 /7%&0% 

 / 7(OHFWULFDO $XWRPDWLRQ(63
3RZHU4XDOLW\6ROXWLRQV

6XSHU+HDY\'XW\ $33
&DSDFLWRUV &DSDFLWRUV
053 053
N9$U 9ROWDJH N9$U 9ROWDJH
7\SH C  7\SH C 
5DWLQJ 9 5DWLQJ 9
SHUN9$U SHUN9$U

WR  WR 


9
WR 9  WR 

   %R[ WR 


9
WR  6HULHV/7%&3 WR 
&\OLQGULFDO6HULHV   
  9 
/7&&5 9
WR  WR 

WR 
WR 9 
WR 

/7;/8OWUD+HDY\'XW\ 2UGHULQJ,QIRUPDWLRQIRU
&DSDFLWRUV &DSDFLWRUV
&&\OLQGULFDO%%R[

'XW\')±6WDQGDUG
N9$U 9ROWDJH 053 06WDQGDUGGXW\%R[ZLWK0&% 
7\SH C 
5DWLQJ 9 SHUN9$U /(',QGLFDWLRQ
++HDY\
WR 
9 1*DV)LOOHG
   56XSHU+HDY\
&\OLQGULFDO WR  3$33
6HULHV/7&&8 9 88OWUD+HDY\
 
WR  6DPSOHUDWLQJV
9
 
N9$U
WR  N9$U
9 N9$U
WR  5DWLQJ

WR  N9$U


%R[
6HULHV/7%&8 9
WR  N9$U
WR  9ROWDJHV% 9 &90 9
9
WR 
 )WRN9$U'N9$U DERYH

/ 7 &   &DWDORJXH1XPEHU

N9$UUDWLQJV
&DSDFLWRU
6HULHV 9 9 9

/7&&)   

/7%&)   

/7&&'/7%&'   

/7%&0   

1HZ /7&&+   

/7%&+   

/7&&1   

/7&&5   

/7%&3   

/7&&8   

/7%&8   

2QO\/7%&'LVDYDLODEOHDWN9$U

/ 7(OHFWULFDO $XWRPDWLRQ(63 
3RZHU4XDOLW\6ROXWLRQV
'HWXQHG5HDFWRUV9+]>@
‡&RSSHU $OXPLQLXPZRXQGUHDFWRUV
‡/RZHURSHUDWLQJORVVHV
‡OLQHDULW\
‡7KHUPDOFXWRII
‡%HWWHU+DUPRQLF%ORFNLQJ&DSDELOLW\>4XDOLW\)DFWRU!@

N9$U &RSSHU5HDFWRU $OXPLQLXP5HDFWRU &RSSHU5HDFWRU $OXPLQLXP5HDFWRU


5DWLQJ 053 C  053 C  053 C  053 C 
&DW1R &DW1R &DW1R &DW1R
3HU8QLW 3HU8QLW 3HU8QLW 3HU8QLW
 /7)5%  /7$/%  /7)5%  /7$/% 

 /7)5%  /7$/%  /7)5%  /7$/% 

 /7)5%  /7$/%  /7)5%  /7$/% 

 /7)5%  /7$/%  /7)5%  /7$/% 

 /7)5%  /7$/%  /7)5%  /7$/% 

 /7)5%  /7$/%  /7)5%  /7$/% 

 /7)5%  /7$/%  /7)5%  /7$/% 

 /7)5%  /7$/%  /7)5%  /7$/% 

 /7)5%  /7$/%  /7)5%  /7$/% 

 /7)5%  /7$/%  /7)5%  /7$/% 

 /7)5%  /7$/%  /7)5%  /7$/% 

 /7)5%  /7$/%  /7)5%  /7$/% 

 /7)5%  /7$/%  /7)5%  /7$/% 

3ULFHVRIOLQHDULW\UHDFWRUVDUHDYDLODEOHRQUHTXHVW
)RULQGXVWULHVZLWK+LJK9ROWDJH+DUPRQLFVVSHFLDOVROXWLRQVDUHDYDLODEOHRQUHTXHVW&RQWDFW\RXUQHDUHVWVDOHVRIILFHIRUWKHFXVWRPLVHGVROXWLRQV

6HOHFWLRQRIFDSDFLWRUVIRUGHWXQHGKDUPRQLFILOWHUDSSOLFDWLRQ
6WHSVL]HDQG :LWKGHWXQHGUHDFWRU :LWKGHWXQHGUHDFWRU
UHDFWRUUDWLQJ
9 &DSDFLWRUVHULHV &DSDFLWRU 9 &DSDFLWRU 9  &DSDFLWRUVHULHV &DSDFLWRU 9

N9$U /7&&)/7&&5 N9$U N9$U /7&&)/7&&5 N9$U


N9$U /7&&)/7&&5 N9$U N9$U /7&&)/7&&5 N9$U
N9$U /7&&)/7&&5 N9$U N9$U /7&&)/7&&5 N9$U
/7&&) N9$U /7&&) N9$U
N9$U N9$U
/7&&5 N9$U /7&&5 N9$U
/7&&)/7&&+/7&&5/7%&+/7%&3 N9$U N9$U /7&&)/7&&+/7&&5/7%&+/7%&3 N9$U
N9$U
/7&&1/7&&8/7%&8 N9$U N9$U /7&&1/7&&8/7%&8 N9$U
/7&&'/7&&+/7&&5/7%&'/7%&+/7%&3 N9$U N9$U /7&&'/7&&+/7&&5/7%&'/7%&+/7%&3 N9$U
N9$U
/7&&1/7&&8/7%&8 N9$U N9$U /7&&1/7&&8/7%&8 N9$U
/7&&1/7&&5/7&&8/7%&+/7%&8 N9$U N9$U /7&&1/7&&5/7&&8/7%&+/7%&8 N9$U
N9$U
/7&&'/7&&+/7%&'/7%&3 N9$U N9$U /7&&'/7&&+/7%&'/7%&3 N9$U
/7&&1/7&&5/7&&8/7%&+/7%&8 N9$U /7&&'/7&&1/7&&+/7&&5/7&&8
N9$U N9$U N9$U
/7&&'/7&&+/7%&'/7%&3 N9$U /7%&'/7%&+/7%&3/7%&8
/7&&1/7&&5/7%&+/7%&8 N9$U N9$U /7&&1/7&&5/7%&+/7%&8 N9$U
N9$U /7&&'/7&&+/7%&'/7%&3 N9$U N9$U /7&&'/7&&+/7%&'/7%&3 N9$U
/7&&8 N9$U [N9$U /7&&8 [N9$U
/7&&'/7&&+/7&&5/7%&'/7%&+/7%&3 N9$U /7&&'/7&&1/7&&+/7&&5/7%&'
N9$U N9$U
N9$U /7%&8/7&&1 N9$U /7%&+/7%&3/7%&8
/7&&8 N9$U N9$U /7&&8  N9$U
/7&&'/7&&+/7&&5/7%&'/7%&+/7%&3 [N9$U /7&&'/7&&1/7&&+/7&&5/7%&'
[N9$U [N9$U
N9$U /7%&8/7&&1 [N9$U /7%&+/7%&3/7%&8
/7&&8 [  N9$U [  N9$U /7&&8 [  N9$U
/7&&'/7&&+/7&&5/7%&'/7%&+/7%&3 [N9$U /7&&'/7&&1/7&&+/7&&5
[N9$U [N9$U
N9$U /7%&8/7&&1 [N9$U /7%&'/7%&+/7%&3/7%&8
/7&&8 [  N9$U [  N9$U /7&&8 [  N9$U

N9$UVHOHFWLRQLVEDVHGRQPLQLPXPVL]HUHTXLUHGDQGKLJKHUVWDQGDUGUDWLQJDYDLODEOH

 / 7(OHFWULFDO $XWRPDWLRQ(63
3RZHU4XDOLW\6ROXWLRQV
&DSDFLWRU'XW\&RQWDFWRUV7\SH02&>@ 7K\ULVWRU6ZLWFKLQJ0RGXOH9+]>@
z+LJK3HDN,QYHUVH9ROWDJH 3,9 N9

z/RZHURSHUDWLQJORVVHV

z$XWRWKHUPDOFXWRII

z &RPSDFW'HVLJQ
z 1RPRYLQJSDUWV
02& 02& 02& z /('VIRUYDULRXVVWDWXVIDXOWLQGLFDWLRQV
053
N9$U5DWLQJ %XLOWLQ 053 6WG N9$U5DWLQJ &DW1R C 
6L]H #9 7\SH $X[LOLDU\ &DW1R C  3NJ 3HU8QLW
3K+] &RQWDFWV 3HU8QLW 1RV
 /7760% 
 02& 12 &6  
 /7760% 
 02& 12 &6    /7760% 
 02& 12 &6  
1RWH$ERYHSULFHVLQFOXGH4XLFN'LVFKDUJH5HVLVWRUV 4'5
 02& 12 &6  
)U  02& 12 &6  
 02& 12 &6  
 02& 12 &6  
 02& 12 &6   1RWH
 02& 12 &6    )RURUGHULQJDGGRQDX[FRQWDFWEORFNSOHDVHUHIHUSDJH1R
 )RURUGHULQJVXIIL[SOHDVHUHIHUSDJH1R
 02& 12 &6    )RURUGHULQJVSDUHFRLOVSOHDVHUHIHUSDJH1R
)U  02& 12 &6    6WDQGDUGFRLOYROWDJH9+]
 02& 12 &6   ,IXVLQJVTPPFDEOHXVHRIVSUHDGHUOLQNNLWLVPDQGDWRU\
 02& 12 &6   )RURUGHULQJVSUHDGHUOLQNNLW3OHDVHUHIHUSDJH1R
6SUHDGHUOLQNDORQJZLWKSKDVHEDUULHULQFOXGHGLQSDFNLQJ
)U  02& 12 &6  
3OHDVHUHIHUSDJH1RIRUIXUWKHUGHWDLOV
 02& 12 &6  

$3)&&RQWUROOHU>@
HWD60$57$3)&&RQWUROOHU&7LQSXW
)HDWXUHV
‡ 6LPSOHDQG6PDUW&RQWUROOHU
‡ $XWRSURJUDPPLQJIXQFWLRQDYDLODEOH
‡ &7VHFRQGDU\$PSVLWHVHOHFWDEOH

 4XDGUDQW2SHUDWLRQIRUVLWHVZLWKZLWKRXW6RODU3ODQWV
1HZ

HWD60$577$3)&&RQWUROOHUIRU HWD60$575$3)&FRQWUROOHUIRU
7K\ULVWRU6ZLWFKLQJZLWK&7LQSXW &RQWDFWRUVZLWFKLQJZLWK&7LQSXW
1RRI23VWHSV 053 1RRIVWHSV 053
6LQJOH 9ROWDJH 6LQJOH 9ROWDJH
IRU7K\ULVWRU 6L]H &DW1R C  )RU&RQWDFWRU 6L]H &DW1R C 
&7LQSXW ,QSXW &7LQSXW ,QSXW
VZLWFKLQJ 3HU8QLW 6ZLWFKLQJ 3HU8QLW
 [ &62222   [ &62222 

 [ &62222   [ &62222 


$PS 9
 [ &62222   [ &62222 
$PS 9
 [ &62222   [ &62222 
 [ &62222 
2QHVHSDUDWHUHOD\FRQWDFWLVDYDLODEOHIRU$ODUP
 [ &62222 

/DVW7ZR&RQWDFWVFDQEH3URJUDPPHGIRU&DSDFLWRU6ZLWFKLQJ
$ODUP)XQFWLRQ)DQ&RQWURO

/ 7(OHFWULFDO $XWRPDWLRQ(63 
3HUIRUPDQFH
PHHWVHFRQRP\

"VUPNBUJDQPXFSGBDUPSDPOUSPMTPMVUJPOT

FUB6-53"5 3"1'$$POUSPMMFSGPS5IZSJTUPS $POUBDUPS4XJUDIJOH

7\SLFDOORDGYDULDWLRQ

 )OXFWXDWLQJORDG

$VSSFOU




 %DVHORDG


ÏÏÏÏ ÏÏÏÏÏ ÏÏÏÏ ÏÏÏÏ ÏÏÏÏ ÏÏÏÏ ÏÏÏÏ ÏÏÏÏ ÏÏÏÏÏ Ï Ï Ï Ï Ï Ï Ï Ï Ï Ï 

5JNFJOTFD

'PS 'PS ~7K\ULVWRU&RQWDFWRUEDVHG$3)&3DQHOVIRUQFSGPSNBODFDQGFDPOPNZ


'MVDUVBUJOHMPBE #BTFMPBE

FUB6-53"5 3DPOUSPMMFSPGGFST
‡7UDQVLVWRURXWSXWVIRU7K\ULVWRUVZLWFKLQJDQG5HOD\RXWSXWVIRU&RQWDFWRUVZLWFKLQJ
‡3KDVH&XUUHQWDQG9ROWDJHPHDVXUHPHQWWRFRPSHQVDWH3)LQXQEDODQFHGORDG
‡4XDGUDQWPHDVXUHPHQWWRWDNHFDUHRI6LWHVZLWK6RODUSODQWV
‡,QGLYLGXDOKDUPRQLFVPHDVXUHPHQWXSWRVWRUGHU
‡GLJLW3RZHU)DFWRUVHWWLQJWRREWDLQKLJKHU$FFXUDF\
‡&RPPXQLFDWLRQWKURXJKLQEXLOW02'%86563URWRFRO
$3)&&RQWUROOHU>@
HWD8/75$$3)&&RQWUROOHU&7LQSXWV
)HDWXUHV
‡ 3KDVH&XUUHQWDQG9ROWDJHPHDVXUHPHQW
‡ 3)GLVSOD\'LJLWDIWHUGHFLPDO
‡ &DVFDGLQJ0DVWHU6ODYH&RQILJXUDWLRQSRVVLEOHWRLQFUHDVHFRQWDFWRXWSXWV
‡ ,QGLYLGXDOKDUPRQLFVPHDVXUHPHQWXSWRVWRUGHU
‡ 'XDO3)VHWWLQJIRU0DLQV'*DSSOLFDWLRQ
‡ &RPPXQLFDWLRQWKURXJK,QEXLOW02'%86563URWRFRO  4XDGUDQW2SHUDWLRQIRUVLWHVZLWKZLWKRXW6RODU3ODQWV

1RRIVWHSV 1RRIVWHSV 053 C 


0RGHO1DPH 9ROWDJH,QSXW &DW1R 6L]H
)RU&RQWDFWRUVZLWFKLQJ )RU7K\ULVWRUVZLWFKLQJ 3HU8QLW

HWD8/75$5   &62222 

HWD8/75$5   &62222 

HWD8/75$75    &62222 [ 

HWD8/75$75   &62222 

1HZ HWD8/75$75   &62222 

/DVW7ZR&RQWDFWVFDQEHSURJUDPPHGIRU&DSDFLWRU6ZLWFKLQJ$ODUP)XQFWLRQ)DQ&RQWURO

HWD&210$3)&&RQWUROOHU
$3)&FRQWUROOHUIRU&RQWDFWRUVZLWFKLQJZLWK&7LQSXW
)HDWXUHV
‡ 0RGXODUDQGH[SDQGDEOHVWHSV
‡ &7VHFRQGDU\$$6LWHVHOHFWDEOH
‡ 0HDVXUHPHQWRILQGLYLGXDO&XUUHQWDQG9ROWDJHKDUPRQLF 7+' XSWRWK2UGHU
‡ &DSDFLWRUIDLOXUHLQGLFDWLRQ  4XDGUDQW2SHUDWLRQIRUVLWHVZLWKZLWKRXW6RODU3ODQWV
‡ 6XLWDEOHIRU/7DVZHOODV+7VLGHVHQVLQJ
‡ &RPPXQLFDEOHRQ0RGEXVWKURXJK563OXJLQ0RGXOH HWD&2102SWLRQDO3OXJLQ0RGXOHV
053
'HVFULSWLRQ 0RGHO &DW1R C 
HWD&210$3)&&RQWUROOHU 3HU8QLW

6LQJOH 9ROWDJH 053 6WHSV3OXJLQ0RGXOH 5HOD\V12 (7$&21(;35 


0RGHO &DW1R C 
&7LQSXW LQSXW
3HU8QLW 6WHSV3OXJLQ0RGXOH 5HOD\V12 (7$&21(;35 

6WHS$3)&&RQWUROOHU [ (7$&2105  563OXJLQ0RGXOH 563OXJLQ0RGXOH (7$&2156 


9
6WHS$3)&&RQWUROOHU [ $$ (7$&2105  $Q\3OXJLQPRGXOHFDQWREHDGGHGWR(7$&2105
9
$Q\3OXJLQPRGXOHFDQWREHDGGHGWR(7$&2105
6WHS$3)&&RQWUROOHU [ (7$&2105 
$Q\3OXJLQPRGXOHVFDQWREHDGGHGWR(7$&2105


$FWLYH+DUPRQLF)LOWHU $+) >@
‡ 5HGXFHV7+'ZLWKLQ,(((OLPLWV
‡ '\QDPLFFRUUHFWLRQRI7+'
‡ ,PSURYHVERWKGLVWRUWLRQ GLVSODFHPHQW3RZHU)DFWRU
‡3KDVH:LUH$+)WREHXVHGZKHUHUG
 +DUPRQLF0LWLJDWLRQLVQRWUHTXLUHG
‡3KDVH:LUH$+)WREHXVHGZKHUHUG+DUPRQLF0LWLJDWLRQLVUHTXLUHG
‡0RGXODU'HVLJQDOORZLQJIRUIXWXUHH[SDQVLRQ 3KDVHZLUH$+) 3KDVHZLUH$+)
)LOWHU :LWKRXW1HXWUDO&RPSHQVDWLRQ :LWK1HXWUDO&RPSHQVDWLRQ
‡(DVHRI0RQLWRULQJXVLQJ7RXFK6FUHHQ+0,
5DWLQJ 053 C  053 C 
‡)OH[LELOLW\RI&RQILJXUDWLRQLQERWKRSHQORRS ORDGVLGHVHQVLQJ  FORVHGORRS $ &DW1R &DW1R
3HU8QLW 3HU8QLW
VRXUFHVLGHVHQVLQJ
 $+)' $+)'

 $+)' $+)'
6WDQGDUG&$71R&RQILJXUDWLRQ  $+)' $+)'
&RQWDFW\RXUQHDUHVWVDOHVRIILFHIRUFXVWRPLVHGVROXWLRQV  $+)' $+)'
2Q
&XVWRPLVDEOH2SWLRQV$YDLODEOH  $+)' $+)' 2Q
5HTXHVW
,3&ODVV,3,3,3  $+)' $+)' 5HTXHVW
&DEOH(QWU\%RWWRP7RS$GGLWLRQDO&DEOH$OOH\  $+)' $+)'
&RPPXQLFDWLRQ02'%86563URWRFRO$YDLODEOH
 $+)'

 $+)' 
 $+)'

/ 7(OHFWULFDO $XWRPDWLRQ(63 
7\SHWHVWHGDQGFHUWL¿HGGHVLJQ
pÐ "KDFKBBOBAÐQLÐQEBÐEFDEBPQÐPQ>KA>OAPÐ
Ð1VMBÐQBPQBAÐ>PÐMBOÐ&" Ð

 Ð&" ÐÐÐ&0
pÐ &KDOBPPÐ-OLQB@QFLKÐRMÐQLÐ&-Ð>PÐMBOÐ&" Ð  Ð&0ÐQLÐMOLQB@QÐ
BNRFMJBKQÐRKABOÐE>OPEÐBKSFOLKJBKQP

5HOLDEOH
pÐ 4LOOVÐCOBBÐ-#ÐJ>K>DBJBKQÐTFQEÐÐNR>AO>KQÐ-#Ð@LKQOLIIBO
pÐ BOQFiBAÐCLOÐ?BQQBOÐQEBOJ>IÐJ>K>DBJBKQÐ>PÐMBOÐ&" Ð
pÐ !BPFDKÐSBOFiBAÐ>PPBJ?IFBPÐLCÐ?LQEÐ@LKPQOR@QFLK>IÐÐMBOJ>KBK@BÐ
OBNRFOBJBKQPÐ
pÐ 0BM>O>QBÐPB@QFLKÐCLOÐABQRKBAÐOB>@QLOP Ð@>M>@FQLOPÐÐPTFQ@EDB>O
Ð BKPROBPÐILKDBOÐIFCBÐLCÐ@LJMLKBKQPÐÐIBPPÐTLOOVÐLKÐJ>FKQBK>K@B

6DIHW\
pÐ #LOJÐÐPBM>O>QFLKÐ@LJM>OQJBKQ>IFWBAÐABPFDKÐCLOÐPTFQ@EDB>O
pÐ RPÐ?>OPÐTFQEÐJLOBÐ@IB>O>K@BÐQE>KÐMOBP@OF?BAÐFKÐPQ>KA>OAP
pÐ ÐJFKFJRJÐLCÐ&-5ÐABDOBBÐLCÐMOLQB@QFLKÐBSBKÐTEBKÐQEBÐALLOPÐ Ð
@LSBOPÐFKÐLMBKÐ@LKAFQFLK
pÐ ">OQEFKDÐLCÐB>@EÐ>KAÐBSBOVÐALLOÐ>KAÐPQOR@QRO>IÐJBJ?BOP
pÐ 7BOLÐPQO>VÐSLIQ>DBÐLKÐALLOPÐÐ@LSBOPÐBKPROBPÐ?LQEÐLMBO>QLOÐÐ
BNRFMJBKQÐP>CBQV

6XJJHVWHG6WHS5DWLQJVIRU$3)&3DQHOV
3DQHO 1RRI (OHFWULFDO6WHSV $OO 1RRI 3DQHO 1RRI (OHFWULFDO6WHSV $OO 1RRI
3K\VLFDO6WHS 3K\VLFDO6WHS
5DWLQJ 3K\VLFDO 3RVVLEOH&RPELQDWLRQ (OHFWULFDO 5DWLQJ 3K\VLFDO 3RVVLEOH&RPELQDWLRQ (OHFWULFDO
6L]H N9$U 6L]H N9$U
N9$U 6WHSV RI3K\VLFDO6WHSV 6WHSV N9$U 6WHSV RI3K\VLFDO6WHSV 6WHSV
      [  « 
      [[  « 
 [  «   [[  « 
 [  «   [[  « 
 [  «   [[  « 
 [  «   [[  « 
   «   [[  « 
   «   [[  « 
   «   [[[  « 
   «   [[[   
   «   [[   
 [  «   [[   
   «   [[   
 [  «   [[   
 [  «   [[   
 [  «   [   
 [  «   [[[  « 
 [  «   [[[  « 
 [  «   [[[  « 
 [  «   [[[  « 
 [  «   [[[  « 
 [[  «   [[[  « 

1RWH$ERYHPHQWLRQHGVWHSVDUHW\SLFDOUHFRPPHQGDWLRQVVXLWDEOHIRUPRVWRIWKHLQGXVWULHV)RUDFFXUDWHFRPSHQVDWLRQVWHSVL]HVHOHFWLRQPD\KDYHWREHGHFLGHG
DIWHUVWXG\LQJORDGSURILOHRIWKDWLQGXVWU\

 / 7(OHFWULFDO $XWRPDWLRQ(63
3URWHFWLRQ5HOD\V>@
3KDVH2YHU&XUUHQW(DUWK)DXOW5HOD\ 6LQJOH3ROH2YHU&XUUHQWRU
&75DWLQJ$RU$)LHOG6HOHFWDEOH (DUWK)DXOW5HOD\
&75DWLQJ$RU$1RW)LHOG6HOHFWDEOH

‡,'07 'HILQLWHWLPHFKDUDFWHULVWLFV ‡,'07DQG'HILQLWHWLPHFKDUDFWHULVWLFV


‡/DVWWULSGDWDUHFRUGLQJZLWK
GDWHDQGWLPH
‡3DVVZRUG3URWHFWLRQ

$X[ 053 $X[ &7 053


6XSSO\ 2XWSXW 'HYLFH 'HYLFH
0RGHO &RGH &DW1R C  0RGHO 6XSSO\ 6HFRQGDU\ &DW1R C 
9 &RQWDFWV &RGH
3HU8QLW 9 $ 3HU8QLW
9 121& 0&$1; $ 0&$$;
0&$Q; 1  9$&'&
$&'& $  0&$$;
12 0&$1; RU
0& 
$ 11 0&$%;
9$&'&
$ 0&$%;

3KDVH2YHU&XUUHQW(DUWK)DXOW5HOD\
0&
ZLWK+LJK6HW 0&

(DUWK)DXOW
0&

%DFNXS(DUWK (DUWK)DXOW
0&
6LQJOH3KDVH2YHU&XUUHQW
3URWHFWLRQ )DXOW3URWHFWLRQ 3URWHFWLRQ 3URWHFWLRQ
&75DWLQJ$RU$)LHOG6HOHFWDEOH 11 11

‡,'07 'HILQLWHWLPHFKDUDFWHULVWLFV
‡/DVWWULSGDWDUHFRUGLQJZLWK
GDWHDQGWLPH 5HYHUVH3RZHU5HOD\
‡3DVVZRUG3URWHFWLRQ &75DWLQJ$RU$1RW)LHOG6HOHFWDEOH

$X[ 053
6XSSO\ 2XWSXW 'HYLFH ‡6\VWHP9ROWDJHLVVLWHVHOHFWDEOH
0RGHO &RGH &DW1R C 
9 &RQWDFWV
3HU8QLW 99$&
9 121& 1 0&$1;
0&$Q; 
$&'& 12 1 0&$1;

$X[ &7 053


6XSSO\ 6HFRQGDU\ 'HYLFH C 
0RGHO &RGH &DW1R
9 $ 3HU8QLW
$ 053$;
9$&'&
$ 053$;
053  
$ 053%;
9$&'&
$ 053%; 

3KDVH2YHU&XUUHQW(DUWK)DXOW5HOD\
ZLWK+LJK6HW 563RUW
&75DWLQJ$RU$)LHOG6HOHFWDEOH 7ULS&LUFXLW6XSHUYLVLRQ5HOD\

‡,'07 'HILQLWHWLPHFKDUDFWHULVWLFV ‡6WDWLF5HOD\


‡/DVWWULSGDWDUHFRUGLQJZLWK ‡0RQLWRUV7ULS&RLOLQ%UHDNHU
GDWHDQGWLPH 21 2))FRQGLWLRQ
‡3DVVZRUG3URWHFWLRQ ‡6LWHVHOHFWDEOH7ULS&RLO9ROWDJH


$X[ 053 $X[ 053
6XSSO\ 2XWSXW 'HYLFH 6XSSO\
0RGHO &RGH &DW1R C  0RGHO &DW1R C 
9 &RQWDFWV 9
3HU8QLW 3HU8QLW
9 1 9$&'& 7&61;$
0&&Q; 12 0&&1;  7&6Q; 
$&'& 1 9$&'& 7&61;%

/ 7(OHFWULFDO $XWRPDWLRQ(63 
3URWHFWLRQ5HOD\V>@
09
$X[ 053
'HYLFH
6LQJOH3KDVH8QGHU9ROWDJHRU 0RGHO 6XSSO\
FRGH
&DW1R C 
9 3HU8QLW
2YHU9ROWDJH5HOD\ 9$&'& 09$$;
09 RU 
‡6\VWHP9ROWDJHLVVLWHVHOHFWDEOH 9$&'& 09$%;
9$&

0&7
&RPSUHKHQVLYH2YHU&XUUHQW (DUWK)DXOW
053
3URWHFWLRQ5HOD\ZLWK$XWRUHFORVLQJ 3URGXFW 'HVFULSWLRQ &DW1R C 
3HU8QLW
‡ 0RGEXV578,(&&RPPXQLFDWLRQ
3URWRFRO 0&7$X[VXSSO\WR9$&'& 0&7$222
0&7 
‡ 3URWHFWLRQVRIIHUHG 0&7$X[VXSSO\WR9$&'& 0&7%222
 11%)7&6
$YDLODEOHRQUHTXHVWRQO\

0&9
7KUHH3KDVH9ROWDJH )UHTXHQF\5HOD\
053
ZLWKGIGWSURWHFWLRQ 3URGXFW 'HVFULSWLRQ &DW1R C 
3HU8QLW
‡ 0RGEXV578,(&&RPPXQLFDWLRQ
3URWRFRO 0&9$X[VXSSO\WR9$&'& 0&9$222
0&9 
‡ 3URWHFWLRQVRIIHUHG 0&9$X[VXSSO\WR9$&'& 0&9%222
 9RGIGW
$YDLODEOHRQUHTXHVWRQO\

/RFNRXW5HOD\/RF5
)HDWXUHV
‡ /RFNRXW5HOD\V>0DVWHU7ULS5HOD\@/RF5
‡ 'HVLJQHGWRRSHUDWHWKHFLUFXLWEUHDNHUWULSFRLOVDWKLJKVSHHG
‡ $YDLODEOHZLWK+DQGUHVHWFRQWDFW +5& DQGKDQGUHVHW)ODJ +5)

'HVFULSWLRQ 2XWSXWFRQWDFWV 5HVHW&RQWDFWV 5HVHW)ODJ &RLO9ROWDJH &DW1R 053 C 3HU8QLW

9'& /+'&;

6LQJOHHOHPHQW 9'& /+'&;


121& +DQG +DQG 
/RFNRXWUHOD\
9'& /+'&;
9$& /+$&;

$YDLODEOHRQUHTXHVWRQO\

$X[LOLDU\5HOD\$X[5
)HDWXUHV
‡ $X[5UHOD\SURYLGHVDGGLWLRQDOFRQWDFWVIRULQWHUORFNLQJFRQWURODQGVLJQDODSSOLFDWLRQV
‡ $YDLODEOHZLWKKDQGUHVHWRUVHOIUHVHWFRQWDFWVDQGKDQGUHVHW)ODJ

'HVFULSWLRQ 2XWSXWFRQWDFWV 5HVHW&RQWDFWV 5HVHW)ODJ &RLO9ROWDJH &DW1R 053 C 3HU8QLW

9'& $+'&;

6LQJOHHOHPHQW 9'& $+'&;


12 +DQG +DQG
$X[LOLDU\UHOD\
9'& $+'&;
9$& $+$&;

9'& $$'&;

6LQJOHHOHPHQW 9'& $$'&;


121& $XWR +DQG
$X[LOLDU\UHOD\ 9'& $$'&;
9$& $$$&;

$YDLODEOHRQUHTXHVWRQO\
 / 7(OHFWULFDO $XWRPDWLRQ(63

You might also like