HAL Id: tel-00484201
https://tel.archives-ouvertes.fr/tel-00484201
Submitted on 18 May 2010
HAL is a multi-disciplinary open access
archive for the deposit and dissemination of sci-entific research documents, whether they are pub-lished or not. The documents may come from teaching and research institutions in France or abroad, or from public or private research centers.
L’archive ouverte pluridisciplinaire HAL, est destinée au dépôt et à la diffusion de documents scientifiques de niveau recherche, publiés ou non, émanant des établissements d’enseignement et de recherche français ou étrangers, des laboratoires publics ou privés.
Numerical simulation of mold filling in low pressure die
casting
Ruhollah Tavakoli
To cite this version:
Ruhollah Tavakoli. Numerical simulation of mold filling in low pressure die casting. Mechanics [physics.med-ph]. Sharif University of Technology, 2003. Persian. �tel-00484201�
uYº¯ ®¬¹ ¾v´¸¯_v¨³Yu
¾Z´yZ§`¯Z³±Z¿Z
vyY
bpc½z-¶dt¿yv´¿Yzyu©ZÀb§zo½{Z¶À^
®§yZ
¾¬§ºc¶«Ym¹y Z°´·YyuZdY zd§u ¾¯Y¹u|¿¹z Yz·y¹zZ³zd§u y¹Z¯uZdY ¾¿Z]Z]Zyzd§u ±Z]M ÎÐÕÏ,,,
uYº¯®¬¹ ¾v´¸¯_v¨³Yu
¾Z´yZ§`¯Z³±Z¿Z
vyY
bpc½z-¶dt¿yv´¿Yzyu©ZÀb§zo½{Z¶À^
®§yZ
¾¬§ºc¶«Ym¹y Z°´·YyuZdY zd§u ¾¯Y¹u|¿¹z Yz·y¹zZ³zd§u y¹Z¯uZdY ¾¿Z]Z]Zyzd§u ±Z]M ÎÐÕÏ,9
¹ z¨c Z]
{Y¾³Yuyv£
µ%¹z©ºyu±Z¿YvÀ ¯½Z·¾¿Z°´·Yy`Yº]zdp¯½Z°´·YyvÀcZY ±¹v]·¹&²¿YZl³Y¶§½{Yy¾·¹&|§z¯{Y¾¿Z]Z]Zyzd§u½Z£M `Yº]½yºM ²Àozd§u½Z£Muº^³zÀ¯±Z¿Y½yZ¨°·¹ ¾¿Z°´·Yy yuZ§¾¬°¿Z¯{MZl³Y`´À¯{yu¾¿Z°´·Yy ½{Yy¾·¹&|§z¯zdp¯²À«ºX¯²À´$°·µuY{YuYu}v´¸¯½Z£M¹ ½z¨}v´¸¯®³Zs¶¬°k{Y ¾kZo ¹ ½º¬ ±Z¿Z£M ¿z ¾d´ µZ.³Yu ½z-¶dt¿y µZ-yZ§ zdp¯ v³uº°³½yZ¨°··¹&²¿Y¾¬°½Z¸t]Zl³Yyu¶§µuY{
9,
µvÀ¨#
yu©ZÀb§zo½zcºÀ¯Z§½{Z¶À^b¸k½yY|]Y±uy¹M®·Yzv·Z]¢À¤pc²¿Y vZl³Y®§yZbpc½z-¶dt¿yv´¿Yz v´¿Yz²¿Yz]®§Zo¾¨¿|À©v¯Yvd]Yyu vt¯ {Yv´cyZ^v´dz-yYz£¶kºcuyº¯¾¨¿|À½{Z«v¯yu¶§½uyYº¯ b§zo nZ]µYz°·©ZÀ uY{M¾¿Zl]Zk v¯Zk¶][Yx¯b«Zo{Y{ZzÀÀcayYzo©Z¤d³YuY{M ©ZÀb§zoz]¾p½Z¸´czgY©ZÀb§zoz]uZ°l³YzgYZ¯u\ÀzgYyu[Yx¯ ©ZÀb§zoz][Yx¯yuµv}º^p¯½Yº·¹ \«Z£ªsYu½Yº·zgY®§Zo ªÀ³Yz ¿u aÇuZ¯ ±v t¯ ¹ ¾¨¿|À ½{Z«v¯ {Y ~ aÇuZ¯ ²¿Y v³vª¿v^c½z^kaÇuZ¯¶]¹ µv½{Z¶d-u¹vp¯ªZ c¹yºc b¸k vµuZ dY¹u¶kyub£uZ]¾¿Z¸¹y{YuyYº¯`À¬§yuaÇuZ¯½{Z¶d- aÇuZ¯ ¹y{Y¾³Z¯{Z-z·yuyZ±YvÀ¯`^Zp¯½Yz]Z¸´c¹ v³vªon¿z¹z]®· ¾´° Z¨¯¶]b^³ ± vµuZ dY ²¿YyuµvZl³Y¿Z¯{M¹ ±Z¤¤p¯z¿Zºcµvzd´¯j¿Zd³Z]®·¶¬Zoj¿Zd³ uº ¾yz] Z¸³M bp Zc v ¶¿Z¤¯ ¢À¤pc j¿Zd³ ²À] ¾]ºs ¢]Zc uyYº¯ `À¬§ yu ¾¿Z³YºcµuZ dYuyº¯©v¯v·u¾¯±Z³¶§vµv·Z¯yZd³Yuyº¯j¿Zd³¹ ½{Z¶À^ ^ vZ]¾¯YyYuYyv´¿Yz²¿Y½{Z¶À
9,,
\«Z¯bz¸
®§yZbpc½z-¶dt¿yz]½Y¶¯v¤¯ ©¹Yª Î \«Z£±vz½{Z¶À^±º¯YzÀ]Z´¯z]½y¹z¯ ¹uª Ñ ¾Z¿y½{Z«v¯ ºª Ô Î Ð ¶¯v¤¯ Ô Ï Ð ½uvªo¹y Õ Ð Ð uY{Mn½{Z«v¯ ÎÍ Î Ð Ð ¹y 0$& ÎÏ Ï Ð Ð ¹y 630 Z¿ 730 ÎÏ Ð Ð Ð ¹y &$6 ÎÐ Ñ Ð Ð ¹y 92) ÎÑ Ò Ð Ð ¹y /60 ÎÕ Ó Ð Ð °k ½v´] ÎÖ Ñ Ð ©ZÀb§zo½{Z«v¯ ÎÖ Î Ñ Ð ¾cZ^Zp¯`¨^½¹yZ·zÀd¯¿zc±Z¨¯ ÏÎ Ï Ñ Ð ¥ºdYz¿º³aÇuZ¯ªo½Z¸¹y ÏÐ Ò Ð \«Z£ªsYu½Yº·½{Z«v¯ ÏÒ Ó Ð ¾p½Z¸´c½{Z«v¯ ÏÓ Ô Ð {ZzÀÀc¹ ayYzo©Z¤d³Y½{Z«v¯ ÏÔ ½uv½{Z«v¯ yZ¸#ª ÐÏ Î Ñ uY{Mn½uv½{Z«v¯ ÐÏ9,,, Ï Ñ u¹vp¯ÈdsY¹z]®§ZoªÀ³Yz ¿uaÇuZ¯½{Z¶d- ÐÕ Î Ï Ñ ¾³Z¯{zc½{Z¶d- ÐÕ Ï Ï Ñ ½wº ³½Z¸¯zc½{Z¶d- ÐÖ Ð Ï Ñ ¶d-¾¿Zl]Zk½Z¸¯zc½{Z ÑÎ Ð Ñ ¥ºdYz¿º³aÇuZ¯½uv½{Z«v¯ ÑÓ Î Ð Ñ ¶°#½Z¸¯zc½{Z¶d- ÑÖ Ï Ð Ñ saÇuZ¯µZ.duªo ¾ ÒÐ Ð Ð Ñ ¥ºdYz¿º³aÇuZ¯ªo½{z¯¿Yz ÒÒ Ñ Ñ {ZzÀÀc¹ ayYzo©Z¤d³Y½uv½{Z«v¯ ÒÔ Ò Ñ ¾³Z¯{Z-`^Zp¯ ÒÖ j¿Zd³¾yz] ®l´ª ÓÏ Î Ò ¶¯v¤¯ ÓÏ Ï Ò ¥ºdYz¿º³aÇuZ¯ ÓÐ Ð Ò ayYzo©Z¤d³YZ]µYz°·¥ºdYz¿º³aÇuZ¯ ÓÓ Ñ Ò {ZzÀÀcZ]µYz°·ayYzo©Z¤d³Y ÓÖ Ò Ò uY{Mn¾¿Zl]Zk ÔÎ Ó Ò ¾p½Z¸´c ÔÐ Ô Ò ¾¬¤g½z-¶dt¿yyu\«Z£±vz ÔÑ Õ Ò [MZ]¿Z¯{M ÕÓ ½zÀ-¶lÀd³ ÖÏ aYuZ¸´À ÖÐ kYz¯ ÖÑ
Î
©¹Y ª
®§yZbpc½z-¶dt¿yz]½Y¶¯v¤¯
Î v¿M¾¯[Zp]¾d´aZ£vÀ«ºc½Z¸¹y²¿zd°¸¯{Y¾¨¿±Yº´]µ{¹z¯Y½z-¶dt¿y ¹ b£º¯½Z¸^«Z£yu½z-¶dt¿y`du¹u¶]½z-¶dt¿yyu½|¿y¶£½Z¸¹y¾¬§yº] v³º¾¯®À¤c¾°WYu Z£¶£vÀ«ºc{Y~©¹Y`duyu ±M{Y¶£¹ µv\¿ztc\«aZ£vÀ«ºc½Yz]\«Z£¹ µviyZs¶£\«Z£±v{Z]Z]¹u`duyu¹ uº¾¯iyZs uzÀ-¾¯yYz£µuZ dYuyº¯½v] ®À¤ct]¶¶]uºs¾°WYu½Z¸^«Z£yu½z-¶dt¿y {Yv´cyZ^¶§uº¾¯ ¾¬¤g Ï uZ¿{yZbpc ®§yZbpc Ð pc½z-¶dt¿y yZb `du¹u¾«¹uyYua¹Z cz.¿u`du¹uZ]ª¯Z§yº]\«Z£±vz|À³Z¨¯b¸k{YuZ¿{ v´Z]¾¯¶¿Z¤¯ª]Z£¹ ¶dYuz.¿v¨¿¶]½uZ¿{b·Z^z.¿u yu[Yx¯¾¬¤g½z-¶dt¿yyu
yZbpc½z-¶dt¿yyu¹ v´§¾¯zYy\«Z£¹ µuz§b§zoª¤g[Zd{Y¾Z³½¹zÀ³zgY ¯ ®§ ¢¿y|c \«Z£ ¶] ¹ µuz§ ¶^¬ ª¤g [Zd z] ¾kyZs ½¹zÀ³ ¦¿ ©Z°Y zgY yu [Yx
uº¾¯ ª¨ Î Î v·u¾¯ ±Z³ Yy ®§ yZ bpc ½z-¶dt¿y ²ÀZ¯ ¦ÀcZ° yº]
yZ bpc µv³yYv¸.³ _yº§ ±¹yu [Yx¯ n ¶§ bY ayº ²¿Y ¶] ²ÀZ¯ uz¨¬° uzÀ-¾¯ yYz£ ¦s ½Yº·
yZ ¾l¿yvc ¿Y|Y Z] Z] ¹ ¶dy ÇZ] ¶¿xc `«º« {Y [Yx¯
v´§¾¯zYy\«Z£YyM¾³Z¿zk ¶§bY¾p®Ècuº^³yu±Z¿zk±uº]YyM²o /RZ3UHVVXUH'LH&DVWLQJ *UDYLW\'LH&DVWLQJ +LJK3UHVVXUH'LH&DVWLQJ
Ï uº[Yx¯yu{Z-~^o¹ ¾p½Z·vÀ§Y±vº¬t¯fZ]v³Yºc¾¯ ¶£¾oYz ¹ \«Z£ ¯ Zl³Y²À¿Z¶]ÇZ]{YyYub¸k ayº]uZ°l³Y¶§bY½Y¶³º-¶] uº¾ b¬¶] z£ Yy¾³Zy¶¿xc¤³¹ µv³Z¯¾£Z]¿Z¯ayº]¶£¶]±M©ZcYªp¯¶¿xc`«º«uZ¿{ v´§¾¯½{Z] ¶£uZ°l³Y±Z¿Z{Y~ _yº§¶cº]ªsYu¶][Yx¯¹ µv¶dYuz]yZ ¾¯z]µv³yYv¸.³ z-u u @ Î ¹ Ï > {Y {Yv´cyZ^¾¬¤g¹y¶]b^³v´¿Yz²¿Y½Z¿Y|¯ @ Ð > ¶°À³ v·u¾¯·Z§Yy¾³Z³Y½¹zÀ³`´¿|·¶§v´¿Yz±uº]¦ÀcZ¯ºcY ¾¿º.«YZ]\«Z£±vz yYub¸kuZ°l³Y®Èc±¹v]¹ µv©zd´§ bÀ À§ ¾¨¿%yº«Zd¯ µv¶dt¿yaZ£½ÇZ] ÇZ]½z-¶dt¿y_z¸] µvÀ$À¹ ²À.´aZ£vÀ«ºc±Z¨¯Y¹ ¿Z´yuv´¿Yz²¿Yµ{¹z¯Y § v³º¾¯vÀ«ºc¹y²¿Y{Y¹yuºsaZ£{Y½yZÀ]¹ µuz§YvÀ½uZ¿{`ºcyº
Ð
bY v´¿Yz ª¨À ®À´c¹ \«Z£ ¾oYz ¾-vÀ$À v´¿Yz ²¿Y aȨ¯ ¶¬°k {Y yu Z·¶´¿|·µvfZ]¶§uº¾¯Zl³YZs¹ ¾¹¾]zlcayº]yZ§²¿YuyYº¯{Y½yZÀ] À§¹ ¶dyÇZ] v]Z¿·Z§¶£bÀ bY¶d³Yºd³v´¿Yz²¿Y¾cȨ¯²À´#uºk¹ªÀ«v] v´§YvÀYyuºs¾£Y¹µZ.¿Zk @ Î > ²dyÇZ]©¹YbY¶¬oz¯¹uª¯Z®§yZbpc½z-¶dt¿yyu¶£±vz¾¬§yº] ±¹v]¶£±uz§z¹u¶£¶]©ZcYªp¯Zc¶¿xc`«º«{YYyMayº][Yx¯ ¹ ®Èc [Yx¯Z]¾p½Z·vÀ§Y±vº¬t¯¹ {Z-~^ofZ]¶§½yº\Z´¯¾¿º.«YZ] uº³ @ Î > {Yv´cyZ^v³º¾¯¶£bÀ À§·Z§Z¿±v[ºÀ¯fZ]¶§½uyYº¯ Z³ ¾p®ÈcuZl¿Y¹±vz½º.«Y±uº]\Z´¯ ¶§½yº\«Z£yu[Yx¯±vt uZl¿Y¶«¹|¿Y[Yx¯ uº l³Y [Yx¯±Z¿zk£¹ }yu¹{uZ° yYub¸kuZ°l³Y±v³®·Yz ¾Z^¤³Y[ºÀuZl¿Y¶lÀd³yu¹ zÀsPcfZ]¶§¶£±vz{Y~[Yx¯uY{M¾¿Zl]Zk uºyYub¸kuZ°l³Y³Z¯v³Yºc¾¯¹ µv¶£uZ°l³Yyu |¯{YµuZ dY¹ ®§yZbpc½z-¶dt¿yv´¿Yz`ºcyº´¯¶] ²¿YbY{DZM½Z¿Y v´¿Myu¶´À¸]ayº]uyYº¯ `À«¹Y½Z¯u¾cyYzo½Z¸³Z°«Yuz.]M®dÀ\«Z£¾oYz
¾´p´¯ ¹ [Yx¯ {Yv- ¡º Yº· i¹zs ½Z¸¬p¯ ¾z¯ ±Zº º³¹ b¯Zt \«Z£ aYzÀÀc yZ ¶]b^³ ±Z¯{ µv³yYv¸.³_yº§yu ¿Z]ZcµvuZ¿½Z·zd¯YyZ{Y¦¿z·zgY z
· yº] v¿Z] ¶º°l¯ ª§ Yx« ¹ µuº] uyYº¯ °
uzÀ- yYz£ ¾yz] uyº¯ ±Z¯|
{Y z-Y ©Zo
uyYu½uZ¿{`´¿|·¹b£¹z¶]{ZÀ³yZ¨´¿YuºµuZ dY½{Z¶´À¸]½Yz]¾¬°aZ¿Z¯{M ·Z§¹ zÀ¯ ±v µZcº§ fZ] v³Yºc¾¯ ½zcºÀ¯Z§ ½{Z¶À^ ½zÀ-yZ¨] ¶§ ¾«Zo yu uº Z·¶´¿|· ²¿Y ·¹& v· Z] ®· ½{Z¶À^ ½zcºÀ¯Z§ yu \«Z£ ±v z v´¿Yz ®§yZbpc½z-¶dt¿y µv½|¿y¶¿Z bY ²¿zd°¸¯ uyº¯v¿Z]ZdYy²¿Yyu¶§½uyYº¯ {Yv´cyZ^v³zÀ-yYz£¶kºc ©ZÀb§zo Z]µYz°· uY{Mn [Yx¯¥zd¯ª ± Yº· {ZzÀÀcZ]µYz°·ayYzo©Z¤d³Y {Y zgYv¯Zk¶][Yx¯b«Zo \«Z£ªsYu½Yº· ¹ uZ°l³Y [Yx¯±Z¿zkz]¾p½Z¸´c
Ñ
¹u ª
]Z´¯z]½y¹z¯
\«Z£±vz½{Z¶À^±º¯YzÀ
bYuY{MnZ]µYz°·b§zoaÇuZ¯ªo\«Z£±vz½{Z¶À^yu®¸¯ªWZ¯{Y `·uyu¶#z-Y ÓÍ z½{Z¶À^>È°¾«¹v¶WYyYªWZ¯¶³º-²¿Yªo½Yz]¾¿Z¸¹y sY¹Y{Y½z-¶dt¿y½Z·v´¿Yzyu\«Z£±v `·uz ÕÍ v{ZM yuuºkº¯]Z´¯{Y½uYvc ¶´À¯{²¿Y ©¹vkyu Î Ï bYµvµuy¹M ¶]>Yzdt¯]Z´¯²¿Y\¬Yyu¶§uz§¶kºcv¿Z] ¾¬°aZ¿Z¯{M¹ ½{Z¶À^j¿Zd³`¿Z¤¯Z]~ µvµyZYµuZ dYuyº¯½uv¹y bYµvµuYu±Z³j¿Zd³²À]¢]Zc vk¶]¶kºcZ] ©¹ Î Ï ¾¯µv·Z¯ uº yu >Zcv°±Z¤¤p¯¹z ¹y{Y '62/$92) )'0 µuZ dY v³Yµuz§ b§zoªWZ¯ªoyu¹y²¿Y¾¿Z³Yºcyu±Yºc¾¯Yyz¯Y²¿Yb¬ µvzd´¯½zcºÀ¯Z§v§uºk¹µ¹È]uY{MnZ]µYz°·©ZÀ @ ÎÎ > ¶´À¯{²¿Yyu uY ³ b ¶§ ±uz§¶ZY¹ mÈY¾°§Z] zÀÀcZ]µYz°·ayYzo©Z¤d³YaÇuZ¯ªob¸k¾¿Z¸d°£½z-¶dt¿y ½Z·v´¿Yz yu \«Z£ ±vz ½{Z¶À^ b¸k ±M {Y ±Yºc¾¯ v§ ²¿Y ¶] {Z uz§µuZ dY Z·zcºÀ¯Z§ayv£¿Y|YZ] v{ZM½v]¶ ªWZ¯ªo½Yz]Z¸Èc ¶] u uY{Mn½zÀ-b¸k±uz§t¯yu¾-vÀ$Àb¬ ¹yyuv]¶y 62/$92) ¹y 0$& ¶¬°k{Y±M½Z¸ z]¶^¬½Yz]½Yµ&¿¹½Z¸¨À´¨c¹ bz-yYz£¶kºcuyº¯ bz-ayº{ZÀ³uyº¯½zcºÀ¯Z§`Zo·Z§ @ Ï > ¹y`ºc¶¯YuYyu 62/$92)
Zl³Y±M½¹y ¾¿Yz.°·bz¿Y|Y½Yz]®·¾cZoÈY¹ bz-ayºv]¶¶] v
Ò 5HVHDUFKHU 0HWKRG :DOWKHUDQG6DKP>Á @ '62/$92))'0 ,QJHUVOHYDQG$QGHUVRQ>@ '60$&)'0 +ZDQJDQG6WRHKU>@ '62/$92))'0 >@ /LQDQG+ZDQJ '62/$92))'0 6WXUPHWDO>@ '62/$92))'0 >@ :DQJDQG6WRHKU '62/$92))'0 >@ 6YHQVVRQHWDO ')(0 >@ +ZDQJDQG/LQ '62/$0$&)'0 >@ 'KDWWHWDO ')(04XDVL/HYHO6HW >@ -RQJDQG+ZDQJ '62/$0$&)'0 >@ .6&KDQHWDO '6,03/(6792))90 >@ /HZLVHWDO ')(092) >@ ;XDQG0DPSDH\ 0RGLILHG'62/$92))'0
%DUNKXUGDURYDQG :LOOLDPV>@ 0RGLILHG'62/$92))'0
+DRHWDO>@ 0RGLILHG'62/$92))'0 >@ ;XDQG0DPSDH\ 0RGLILHG'62/$92))'0 >@ .LPDQG+RQJ '60$&)'0 >@ 1DYLW\HWDO '/DJUDQJLDQ)(0 >@ *DVWRQHWDO '/DJUDQJLDQ(XOHULDQ)(0 ©¹vk Î Î ½z-¶dt¿yyu\«Z£±vz½{Z¶À^±º¯YzÀ]Z´¯z]½y¹z¯ b¯È ü bYµvµuYukz¯{Y©º£ª¤³z¯ )LQLWH'LIIHUHQFH0HWKRG )LQLWH(OHPHQW0HWKRG )LQLWH9ROXPH0HWKRG
Ó ¹yaȨ¯{Y¾¨¿ 92) ±uº]n¿z Î ¦#º§¾³Z¯{Z-uº¾¯fZ]¶§bY±M ¹ µuº] ±Z¯{ Yx« ½YzkY uº¾¯ ¾³Çº ¾¬Às ½{Z ¶À^ ²¿Y y ½Yz] ®· ¾¿Z¸Èc
¶§bYµvZl³Yb¿u¹vp¯ ¿YvÀ¶]zl´¯ ¹y ,PSOLFLW62/$92) v @ ÏÑ Zc ÏÓ > ±Z¯{·Z§_v´·u±Z³µvyY|-j¿Zd³¹ µuº]zd-y|]¾¬Às¾³Z¯{Z-¹y²¿Yyu bY½zcºÀ¯Z§`¯Z³z]½YzkY ¶§uz§¶kºcv¿Z]¾«¹ uz]yZ§ ¹ µuº^³¾¯º°Z¸¹y²¿Y ½Yz] ªo v´dÀ³µuZ dYª]Z£ªWZ¯`°· ½v´]°k¦¿yu uº¾¯¶oȯ ¹y{Y>Zcv°±Z¤¤p¯ 62/$92) )'0 µuZ dY v³Yµuz§
¬dt¯ ½Z¸¹y ¾yz] ¶] ª ¯ yº ¶] v] ½Z¸t] yu dsYuz µv ¶ yu ¹ Yºs[Ztd³YYy\Z´¯¾¹yb¿Z¸³ vv· ([SOLFLW
Ô
ºª
¾Z¿y½{Z«v¯
Î Ð ¶¯v¤¯ ®§yZbpc½z-¶dt¿yv´¿Yzyu\«Z£±vz½{Z¶À^½yºXc¾³Z^¯ª²¿Yyu ¾yz] º¾¯ u vv·Yºs¶WYyY®§ZoaÇuZ¯½uvªo¹yYvd]Yyº´¯²¿Y½Yz] yu ¶«P¯¬dt¯½Z¸t]½{Z«v¯¶]¶¯YuY dsYuz uº¾¯¶ ^¶§ {Yv´cyZ n½{Z«v¯{ZzÀÀcZ]µYz°·ayYzo©Z¤d³Y¹ ©ZÀb§zo uY{M ½Z¸«v¯`WYyY{Y~b°£z·yu ¬dt¯ ¹y [Ztd³YYy\Z´¯ ·Yºs v v ©¹Y`kyuyuuyYº¯`À¬§yu®·[Ztd³YyZÀ¯
uº]v·Yºs½zcºÀ¯Z§{Yuz±Z¯{·Z§~¹ ¶¬X¯ªoyu¹y¾¿Z³Yºc¹ b£u
Õ Ï Ð ½uvªo¹y v´d·½YµyZªÀ³Yz ¿uaÇuZ¯¾¨¿|À½Z·µv¿v\¬Yz]®§ZoaÇuZ¯¾¬§yº]
½Z¸d«Zo yu ¾cÇuZ¯ ²À´# ¾¬À¬pc ªo Zs
¹ µuZ ª¨ ªo `´¯Yu ¶§ ¾¯Z.´· ¹
¹ uº]v·YºszÀ¯vZ]¶dYu¾t¯ u y ½Z¸¹y{Yv¿Z]ayº²¿YzÀ µuZ dY½uv uz§ YvÀ ¶ºc ½YµyZ ªÀ³Yz ¿u aÇuZ¯ ªo ½Yz] ½uZ¿{ ½uv ½Z¸¹y µ{¹z¯Y
v³Yµuz§ u¹vp¯ªZ c½Z¸¹yZ¸³M±ZÀ¯{Y Î ¹vp¯±Z°«Y u Ï ®lo¹ u¹vp¯ Ð bÀ¯º° v³yYu½zdÀ] ®À¤c¾¨#º§½Y|kY¶]ªo±YvÀ¯Yvd]YZ¸¹y²¿Yyu ¾¯ ²¿Y¶]¶§uº v´]¯ª° v´¿º-½ u¹vp¯ªZ c¹yyu ¾cyZ§uaZdt¯yu Z¸¯ ¹ub«Zoyu ½v] ®lo¹ u¹vp¯±Z°«Y¹yyu¹ v´d·¾¬Àd¯ª¨¶] u¹vp¯ v³Yºc¾¯¯z· vZ] ¾v´· ¾¬ v´# ¦¿ ª¨ ¶] ª¨ Î Ð ½Z¸¹z] µv ½v´]¯ µz¿Yu ¦¿ v·u¾¯ ±Z³ Yy ¬dt¯ z bpc ¶§ uz§ ½y¹MuZ¿ v¿Z] ½Z¸¹y¢¬¯ ¿Y ½uv ÇZ]
uº]v´·Yºs±Z¨¿¾°§¹ ¾ À§Zp«{YZ¸]Yºk¶]Z¯¶¬X¯¦¿½Yz]¹ v´«uZ¯ @ ÏÔ > )LQLWH'LIIHUHQFH0HWKRG)'0 )LQLWH(OHPHQW0HWKRG)(0 )LQLWH9ROXPH0HWKRG)90
Ö
¹y yu ªZ c
v´# Z] ®À¤d¯ yº] ªÀ³Yz ¿u `«uZ¯ ¾W|k aZ¤d¯ >Ǻ°¯ u¹vp¯
ª° ²¿Y ¶] ¶§ v³º¾¯ ²¿|.¿Zk ±M yº¬Àc ½z ] {Y ªZo ayZ^ ©¹Y `¬°k ½{Z¶d-Î v´¿º- yº¬Àc½z{Y¶§uyYu¾cÈ°kuYvc¶]¾.d]½{Z¶d-b£u v³º¾¯[Ztd³Y @ ÏÕ > ayº]¾´p´¯¹ yYv^À½Z·{z¯¶§bY²¿Y¹y²¿Y½Z¸ {Y ®¿º¾¯y¹u¶¬X¯¾£Y¹`v´·{YuyYº¯²¿YyuYx«¹ v³º¾¯µu{\¿z¤c½Y¶¬ ²À´$°· ½Z¤]½Yz]¾d³Z° uyYv³uºk¹ªo²Ào¾¨¿|À½Z¸dÀ°§ {Y ½Z¿Y|¯ ±M¾-uZ¹y²¿Y ±uº]zd¸]¹ Yºs bYu¹vp¯±Z°«Y¹y¶]b^³±M¾¿Yz.°· @ Ñ > d§ \ z]½uZ¿{ ]Z´¯¶¬°k{YuyYuuºk¹aÇZÀªWZ¯ªob¸ku¹vp¯ªZ c¹y½Z´^¯ ÏÔ ÏÕ ÏÖ ÐÍ ÐÎ ÐÏ ¹ ÐÐ ¯ªoyuu¹vp¯ªZ c¹y Yyx-b«Zoyu©ZÀb§zoaÇuZ
ºc Yvd]Y uY{M n Z] µYz°· +DUORZ DQG :HOFK @ ÐÑ > ¹y ±Yº´ bpc 0$& uyº¯
¶¯YuY yu ¹ bz- yYz£ µuZ dY ºc 1LFKROV HW DO @ ÎÎ > ¹y ±Yº´ bpc 62/$92) ²¿Y{Y±Z¤¤p¯{Y½uZ¿{_vvµyZYª^£ªyu¶§yº³Z°·¶§uz§YvÀ¶ºc ¹y v³uz§µuZ dY ¦¿ªÀ¨cZ]~¹µv¶dº³±Z°«Yz·½Yz]ªÀ³Yz ¿u`«uZ¯u¹vp¯±Z°«Y¹yyu uº¾¯¶^Zp¯±Z°«Y¾·z-Z¤³yuz³uyº¯bÀ°§ªo±YvÀ¯ª§½¹yµZ.du yYv¤¯ uº¾¯YvÀ¾t¯¾]ZÀ³¹yu]Yºcºc®·¾·z-zÀZ¤³yubÀ°§ ´¯¶]¶kYz¯Z] ]Z ªWZ¯ªoyuu¹vp¯ÈdsY¹yZ]¶¿Z¤¯yuu¹vp¯±Z°«Y¹yuz]yZ§®À]Z¿¾¯yu bY µuº] zcu¹vp¯ ¾¬Às aÇZÀ
{Y v´cyZ^ ¹y ²¿Y ²Zp¯ {Y ª¨ zd¸] \¿z¤c ¾v´· yu±Z¨¿b£u¶]±vÀy½Yz]Z¸³Z°«YuYvc·Z§¹ ½{z¯¿Yz©Z°Y¾-uZ p¯ÈdsY¹yZ]¶¿Z¤¯ {Y¹ u¹v ¶]±Yºc¾¯±M\¿Z¯ uz§µyZYz¿{uyYº¯ ½Z¤]v
½Z¸¯zc ±uz§ ²¿|.¿Zk ±uº] ª¨¯ ªÀ³Yz ¿u ¶«uZ¯ ºc µv ±ZÀ] ¾¨¿|À bÀ°§ ¾¿Zl]Zk Ï ¶«uZ¯yu ªÀ³Yz ¿u ªZoaÇuZ¯µZ.du±uº]©Z¯z³zÀ¹ À¾¿Yz.°· @ Ñ > ÇZÀ ¦À³Z¨¯ uyº¯ yu ¶§ \d§ {Y ½uYvc ¶dº³ u¹vp¯ ±Z°«Y ¹y ½Z´^¯ z] a
'LVFUHWL]DWLRQ $GYHFWLYH
ÎÍ {Yv´cyZ^v³Yµv kYz¯ ÐÒ ÐÓ ÐÔ ÐÕ ÐÖ ¹ ÑÍ vy¾¯z´] yuu¹vp¯±Z°«Y¹y ±Z¤¤p¯{Y¾°§uYvcºc\«Z£±vz½{Z¶À^ µuZ dYuyº¯ yu¶§bY¶dz-vµyZYZ¸³M{Y½uYvc¶]ª^£ª ¹y ®lo u¹vp¯ ½Z´^¯z] bYµv½|¿y¶¿Zt¯bÀ°§¦¿½Z¤] yº´¯²¿Y¶] uº¾¯½zÀ-©Yz.d³Y©zd´§®lo¦¿½¹yªÀ³Yz ¿u`«uZ¯{YYvd]Y ¹ }º-`À£ºc
mº {Y ½yº^ yZ ©Yz.d³Y ¶] ª¿v^c ®lo ½¹y ©Yz.d³Y ©zd´§ ®lo uº¾¯ ~ ¯ ª¿v^c½z^kaYyZ^¶]yº¬Àc½zºcµv³Z°À£Z]aZ¤d¯ v³º¾ ªoZ]b¿Z¸³yu¹ uº¾¯YvÀz³uyº¯bÀ°§ªZo½z^kaÇuZ¯ @ Ñ ¹ ÑÎ > ½Z¤]yu¹y²¿Yb¿|¯ bY¾v´·ª¨\Z´¯\¿z¤c¹ ¾¨¿|ÀbÀ°§ @ Ñ > ¶´À¯{²¿Yyuuºkº¯\d§¶¬°k{Y kYz¯ ÑÎ ¹ ÑÏ v´d· ±ZÀ¯yu nZ]µYz°·©ZÀb§zo`´À¯{yuµvZl³YaZ¤À¤pc {M ®lo¹z]uY u¹vp¯ ¶]±Yºc¾¯ ½Z·yZ§ .RWKH ³YyZ¨°·¹ uz§µyZY @ ÑÐ ÑÑ ÑÒ ÑÓ ÑÔ ÑÕ ÑÖ ¹ ÒÍ > Z]µYz°·u¹vp¯®lo¹y{YµuZ dYvy¾¯z´]µvz§w\«Z¯¶]¶kºcZ] ½Z¸¯ ±Z¯{Z¾] Î ª¨ªh¯ Ð Î [ vZ]¾^Z´¯[Ztd³Yv³Yºc¾¯ °yuZ¯Y ª ¿uy n¾]Z uº]v·YºsµvÀ$ÀyZÀ]b«Zo²¿YyuuY{M u¹vp¯ªZ c¹y{Y¢À¤pc²¿Yyu²¿Yz]Z´] µuZ dY¶º]z¯½YµyZªÀ³Yz ¿uaÇuZ¯ªo½Yz] vv·Yºs Ð Ð uY{Mn½{Z«v¯ Ï v´¿º-uY{Mn\«Z£ªsYu½Yº·¹ [Yx¯|¬¥zd¯ª¶] ²¿Y\«Z£±vz²Ào uº¾¯º±M±Z¨¯¹ µuYuª¨zÀÀc¶dºÀyº]¥zd¯ª ®À´§¾¯z $ ¹ % v´Z]z¿xZ³º¬t¯©ZÀ¹u \«Z£ªsYu½Yº·¹ [Yx¯ ´cz-Y yuvZ]b]Zg¾p {YbcyZ^©ZÀ¹u¥zd¯ª½¹y½{z¯¿Yz©uZcb«Zo 8QVWUXFWXUHG0HVK )UHH6XUIDFH
ÎÎ Î Ð 9$Q 9%Q 9Q Ï Ð 9$W 9%W Ð Ð Q7$± 7% 1Q ]Y¹y²¿Yyu 9 Q ¹ W nz]}Z°¯¹ n©Z¯z³bz½Z·yYuz]\Àczc¶] 7 yº´c ¥zd¯ªz]uyY¹¾´c ¥zd¯ªºd¯½Z´p³Y Î ¹ 1 v´d·¾p´c @ ÒÎ > uyYuuºk¹uY{MnZ]µYz°·©ZÀb§zoªWZ¯ªo½Yz]¹y¶du¹u¾¬§yº] {Yv´cyZ^¶§ ²¿&³Yz-Ç Ï ²¿z«¹Y¹ Ð ¹yyu ¹ µuº]¥zpd¯aZdt¯®dÀ²¿&³Yz-Ç v´§¾¯b§zo©ZÀµYz°· b«º¸¹ ¥zd¯ª¢À£u½¹zÀ¹y²¿Y²Zp¯{Y ¹ Z¸¯±vÀ$À®·yu±M½Z¸ ¶¬°k{Y¹ bY¥zd¯ªz]½{z¯¿Yz©Z°Y ¶§bYZ¸¯v¿vzzÀÀc`Yº]b£u·Z§ uyYu¾¯{Ç uvl¯½v´]¯ l³Y>Y Z uº uº¾¯µuZ dY¯½Zk¶]aYyw{Y½&³Yz-ǽZ¸¹y{Y½Y¶duyu b«Zo²¿Yyu ±ZÀ]z.¿v¨¿z]aYywª]Z¤d¯zgYºc©ZÀyZdy¹ µuº]©ZÀ Yºs`À¬§½YyYuµywz· uº¾¯ @ ÒÎ > Z¸¹y ²¿Y `¬°k {Y 63+ Ñ ½Z¸^«Z£±vz½{Z¶À^yu>YzÀsY¶§ bY ½z-¶dt¿y bY¶dz-yYz£¶kºcuyº¯ÇZ]yZbpc½z-¶dt¿y ºt] @ ÒÏ ÒÐ ÒÑ ÒÒ ÒÓ ÒÔ ¹ ÒÕ > ¶§¾¯Z.´·uY{MnZ]µYz°·ªWZ¯ªoyu¹y²¿Yvy¾¯z³¶] vZ]Z¸¹yz¿Z{YzcZ³Yºc®ÀZ]¶dYuYy©ZÀv¿vZ¹ ±vt ²¿z«¹Y¹yyu b]ZgaZdt¯½Z·yºp¯±Z¨¯ ¹ µuº] uº¾¯Zl]Zk¾cZ^Zp¯½Z¸¬²À]©ZÀ ²¿Y²o v¿vª¨zÀÀcbpcv³Yºc¾¯©ZÀaZ^Zp¯b£uyu·Z§±¹v]¶§bY²¿Y¹y v¿Myu @ ÒÎ > Z¸¯yZ-{Z½{Z|¿y¦À´¨c{Yb£u¿Y|Y½Yz]±Yºc¾¯½z«¹Y½Z¸¹yyu Ò uz§µuZ dY >Èh¯ Zs¢Z´¯yu¦À´¨c²¿Yyu v´´§¾¯|¿yYyZ¸¯uY{Mn @ ÒÎ > ¶]
Z¸¹y²¿Y{Y¢À¤pc ²¿Y yu ½z«¹Y ½Z¸¹y ½ÇZ] ¾¿Z³Yºc ©Zo ²À yu ¹ ¾-uZ b¬
.XUYDWXUH /DJUDQJLDQ (XOHULDQ
6PRRWKHG3DUWLFOH+\GURG\QDPLFV $GDSWLYH0HVK5HILQPHQW
ÎÏ
¾¯ µuZ dY uº
v³yYu ½zdÀ] uz]yZ§ ¶§ ½z«¹Y ½Z¸¹y {Y ½uYvc ¶¯YuY yu ¾yz] vv´·Yºs Î Ð Ð ¹y 0$& Î ±{¹¾]aYyw½uZ¿{uYvc{Y¹y²¿Yyu t©ZÀ®loyu¶§©ZÀb§zoz]zgY¾]¹ uº¾¯µuZ dYuY{Mn¾]Z¿uy½Yz]v³Yµv Yvd]Yyu¶§bYayº²¿Y¶]yZ§_ºp³ uº¾¯b^gaYyw±Z¨¯¹ uº¾¯µuYuyYz£µyw¾t¯uYvc©ZÀ½¹Zo½Z¸¬yu
³{¹½zÀ-²À.³ZÀ¯Z]µywz· bz b§zo aÇuZ¯ ªo {Y ~ ½Z¸«º¬bz{Y¾ uº¾¯¶^Zp¯µywYzY ¾³Z¯{Z-¹ ±Mbzµyw¾¬^£±Z¨¯¶]¶kºcZ]¶¯YuYyu uº¾¯ t¯ µyw v¿vk ±Z¨¯
½Z¸«º¬ ²À] ¥zd¯ ª ¹y ²¿Y yu uY{M n
bYµyw±¹v]¹ µyw½¹Zo @ ÐÑ > ª¨ Ï Ð b«º¸¹ ¾-uZ¹y²¿Y½Z¿Y|¯{Y ±M{YµuZ dY ±Z¯{Z±¹v]½Z¸¯½Yz] µuº] ±M\¿Z¯{Y¹ {Yv´cyZ^ `Zo¶]{ZÀ³ uZ¿{½zcºÀ¯Z§ @ Ï> ¹ uº^³ ©ZÀ¾¿Zl]Zk²Àozk½Z¤]½Yz]¾´À°c Z¸¬²À] @ ÒÖ > Ï Ð Ð ¹y 630 Ï Z¿ 730 Ð uº¾¯µuZ dYn¾]Z¿uy½Yz]v³yYuyYz£uY{Mnz]¶§¾cYyw{Y¹y²¿Yyu ²¿Y ¹y{Yzc¢À£u¾¬Às¹y 0$& ¾¯YyuY{Mn¢À£u±Z¨¯±º#bY v·u «Yª¨ 0DUNHU$QG&HOO 6XUIDFH3DUWLFOH0HWKRG 7UDFHU3DUWLFOH0HWKRG
ÎÐ Ð Ð ¦¿{Yzd°§nb¯Zt¶§¾d«ZoyuuY{Mnª¨±Yºc¾¯¹y²¿Yyu bY ©º¬ Yy uz§ t¯ b£v] [ ª¨ Ð Ð ]Zc ¦¿ ±uYu yº^ Z] ²À´$°· ºc¾¯aYyw{YÇZ]¶kyu_v¾]ZÀ³¹yu Z´p³Y±Y n½ ¹ b£uZ]Yy¾p½Z¸´c¶lÀd³yu uz§¶^Zp¯ÇZ] @ ÓÍ > {Yv´cyZ^¹y²¿YaȨ¯¶¬°k{Y Z.´·aZ^Zp¯¾-vÀ$À yuaYywbz`^Zp¯¾-vÀ$À¶¸^k¦¿yu¿YvkuZl¿YZ¿©ZÀ`¸^k¹uuyºsz] ½¹zÀ²Àozk½Z¤]½Yz]¾´À°c²dYv³uºk¹¹ v]¶ ©ZÀ @ ÒÖ > ¾]Z´¯¶¬°k{Y {Yv´cyZ^v³Y¶dsYuz¹y²¿Y`ºc¶]¶§ kYz¯ ÓÍ ÓÎ ÓÏ ¹ ÓÐ Ð Ð Ð ¹y &$6 Î ¹y²¿Yyu Yvd]Y ²¿Y¾¿Zl]Zkºc¥zd¯ª¹ µv¿zcz«Z¨YbÀ°§¦¿ uº¾¯t¯ªo±YvÀ¯yubÀ°§ bÀ°§©Zh¯±Yº´¶] & ¶¨¿yº]µv¿zc & LQ)OXLG
& &RXWRI)OXLG
!&&DWWKH,QWHUIDFH
bÀ°§¹ & `«uZ¯ªoºc Ñ Ð uº¾¯YvÀ &RQWLQXXP$GYHFWLRQ6FKHPHV
ÎÑ Ñ Ð x w w 9 & W & Yy¾pY¹¥zd¯ª¶«uZ¯²¿Y®À¤d¯ªo¶§bY²¿Y¹y²¿YaȨ¯¶¬°k{Y bYuv·Yºs½wº ³b«ZoªZo¥zd¯ª¹ v·u¾°³ ¾Z³½Zsyuz¯Y²¿Yb¬ ªo{Y ½uv bYÇZ]`«uZ¯ ´¿Y®£y¾¬¶§Yz# zgYyu®¿yYv³½wº ³zc¶«uZ¯²¿Yyu¶¨ wº ³ [wZ§ Î v¿M¾¯yu½wº ³b«Zo¶]¥zd¯ª½uvªo{Y¾Z³ @ ÒÖ > Z]¾do
¶¬°k {Y zcÇZ] b£u Z] ¾¿Z¸¹y {Y µuZ dY 9DQ /HHU @ ÓÑ > 330 @ ÓÒ > ¹ 79' @ ÓÓ > ¶§ ] ª¨¯{Z]v´´§®§Yy¾£Y¹zÀwº ³{Y¾Z³½Zsv´³Yºc¾¯ v³Z¯v·Yºs¾£Z ±Yº´¶] ~©Zh¯ {Y uZ dY _ yZ¸#¶kyu¹y 330 µuº]½wº ³¾«º^£ª]Z£zÀyº]¥zd¯ª bY @ ÒÖ > ¹y²¿YaȨ¯®£y¾¬ Z]©ZÀb§zoªWZ¯ªo½Yz]±M{Y½Yµv ©Zh¯±Yº´¶]v³Yµuz§µuZ dYuY{Mn -XQDQG6SDOGLQJ @ ÓÔ > o Z¸³MyY|-¶§ {Y¾§Z bYµuº]½uvj¿Zd³¹ ¾¬°aZ¿Z¯{M[ºs¢]Zc ²À´$°· &KDQ HW DO @ ÓÕ > ±M{Y v³uz§µuZ dY\«Z£±vz ½{Z¶À^½Yz] ¹yµvz§wuyº¯¹uyu 9DQ /HHU ½Yz] bY¶dz-yYz£µuZ dYuyº¯¾¿Zl]Zk½Z¸¯zc½{Z¶d- Ñ Ð Ð ¹y 92) Ï bÀ°§{Y¹y²¿Yyu z«Z¨Y ) z½Z¸¬yu±MyYv¤¯¶§ayº²¿Y¶]uº¾¯µuZ dY
bY¦¿¹ z ²À]±MyYv¤¯uY{Mnyu¹ z ¾«Zs½Z¸¬yu¦¿ z§¶]¶d] ±M±¹yu©ZÀ¾°lo yYv¤¯ ) uº¾¯YvÀz¿{`«uZ¯ºc®· @ ÓÖ > Ò Ð x w w 9 ) W ) ¾.dºÀ`«uZ¯¶§bY¾d«Zoyu²¿Y¶d^«Y Ó Ð yYz£z] z ]¶«uZ¯ayº´¿YzÀyuvZ] `]Yy Ô Ð uº]v·Yºs @ ÔÍ > )DOVH'LIIXVLRQ 9ROXPH2I)OXLG
ÎÒ Ó Ð x 9 Ô Ð x x w w 9) 9 ) W ) ¹y¶]Z¯®À´§ªo®À¤d¯ayº]Yy¶«uZ¯²¿Yz-Y &$6 ayº¶]¥zd¯ª v¿M¾¯yu½wº ³ ®À´§¾¯µuZ dY¾v´·½Z¸¹y{Yb¬²¿Y¶] @ ÒÖ > `«uZ¯{Yz-Y Ô Ð
c ®À´§ ½zÀ-©Yz.d³Y ©zd´§ ®lo ¦¿ ½¹y Yy {Y ½yº^ ½Z·yZ º°l¯ z]Yz] ¹u z
vv·Yºs±Z°«Ymº bY¶¬oz¯¹uª¯Z¾v´·¹y{YZ·yZ²¿Y`^Zp¯ ©¹Y ªyu©ZÀbÀ¹½{Z{Z] Î Z¸¬²À]©ZÀ¾¿Zl]Zk¹u Ï ¶°À³½Z¸¬½Yz]©¹Y`¬oz¯ uºt¯ªyuuY{Mnª¨v¿Z]¶§uyYubÀ°·Yz @ ÔÎ > ] ¶¯YuYyu `$t¿yZc¶ ¹y 92) uº¾¯µyZY±M`´À¯{yuµvZl³Y½Z¸dzÀ¹
ºc yZ] ²À«¹Y ¹y ²¿Y 'HEDU @ ÔÎ > ©Z yu ÎÖÔÑ v mz¯ ¶¯YuY yu 1RK DQG :RRGZDUG @ ÔÎ > ÎÖÔÓ ¹y 6/,& Ð ±Myu¶§v³uz§µuZ dYuY{Mn½{Z{Z]b¸kYy Z¿¾¤Y¾¿Z¸sµyZayº]uY{Mn uº¾¯µu{\¿z¤c½uº° [ ª¨¢]Z¯ Ñ Ð &KRULQ @ ÔÏ > ÎÖÕÍ ¹ymÈYZ] 6/,& uz§µuZ dY¶¬½¹zÀ¾yz]½Yz]±M{Y ¶¬°k{Y½uZ¿{_v¶¯YuYyu¶§ 6HWKLDQ @ ÔÐ > ÎÖÕÑ ¹ :KLWDNHU @ ÔÑ > ÎÖÖÍ ²À°·{Y v³uz§µuZ dY¹y +LUW DQG 1LFKROV @ ÓÖ > ÎÖÕÎ Z] ½Z¸¬®d¿yº.«Y¶ÀoÈY½yYv¤¯ µv´·u µv³zÀ-Ñ {Yv³uz§YvÀ¶ºc¹y²¿Y}ZYz]½uZ¿{½Z·v§¶§v³uz§mz¯Yy ¶¬°k 62/$92) @ ÎÎ > 1$6$92)' @ ÔÒ > 1$6$92)' @ ÔÓ > )/2:' @ ÔÔ > 5,33/( @ ÔÍ ¹ ÔÕ > ¹ 685)(5 @ ÔÖ > y ¥zd¯ª¶§bY²¿YZ¸¹y²¿YaȨ¯{Y¾¨¿ Y ©¹Y¶kyub£ub«Zo²¿zd¸]yu©ZÀ¾¿Zl]Zk¹ v´³{¾¯\¿z¤c½Y¶¬¹²sayº] bYuv·Yºs @ ÔÎ > ª¨¯²¿Yyb¸kyu $VKJUL]DQG-<3RR @ ÕÍ > ÎÖÖÎ ®d¿yº.«Y )/$,5 µu{\¿z¤cyYv^ÀsµyZ¦¿ayº]Yy¥zd¯ª±Myu¶§uz§mz¯Yy 5HFRQVWUXFWLRQ $GYHFWLRQ 6LPSOH/LQH,QWHUIDFH&DOFXODWLRQ 'RQQHU$FFHSWRU$OJRULWKP
ÎÓ v¾¯ i ª¨¢]Z¯ Ñ Ð ¹y²¿Yv]¶¶]®À°c±uº]ª¨¯¹ ¾-vÀ$Àb¬¶]
uz¨³ YvÀ ¶ºc ±Yv´#
±Yº´ bpc ½uZ¿{ ¶]Z¯ ½Z¸¹y ¶¯YuY yu 3/,& Î YvÀ¶ºc ¦¿ayº]v]¶yu¹ sµyZ¦¿ayº]v]¹uyuYy¥zd¯ª¶§v³uz§ v³u{¾¯\¿z¤c¶p @ ÔÎ ÕÎ ÕÏ ÕÐ ÕÑ ¹ ÕÒ > ]Z¯ uª¨¢ Ñ Ð ±uz§YvÀ½Yz] ]Zcz¿uZ¤¯{YsµyZ`«uZ¯ ) YzY½Z¸¬yu ¥º¬] Ð Ð v]¹uyu uº¾¯µuZ dY sµyZ¶§¾¿ZsaZ]z¯º°l¯¶§uº¾¯[Ztd³Y½yºsµyZ¶§ayº²¿Y¶] ½Yz] ) v³{¾¯\¿z¤c ¥º¬]yu Ð Ð uº®°À´À¯ Z´]¹y²¿Y /9,5$ Ï bZ¿az¸ ¶^Zp¯±Z¯{·Z§yº´¯¶] 3LOOLRG _v¶´À¸]®d¿yº.«Y /9,5$ ±Yº´bpcYy (/9,5 Ð uz§mz¯ @ ÔÎ > ¥º¬]½¹y½v]¶b«ZoyuZ¸°d¿yº.«Y²¿Y Ð Ð Ð `«uZ¯²dZ¿½Yz] v³º¾¯¶dz-yZ¨]¶p v]¶yu¶p `«uZ¯±uz§YvÀyub«º¸½Yz] *XH\IILHU HW DO @ ÕÐ > ¹ 6FDUGRYHOOL DQG =DOHVNL @ ÕÑ > ¦¿ªoZ]±Myu¶§v³Yµuz§¶WYyYYy¾¹y uº¾¯t¯¶p `«uZ¯º¶kyu`«uZ¯ 3LFFHZLVH/LQHDU,QWHUIDFH&DOFXODWLRQ /HDVW6TXDUHV9ROXPHRI)OXLG,QWHUIDFH5HFRQVWUXFWLRQ$OJRULWKP (IILFLHQW/HDVW6TXDUHV9ROXPHRI)OXLG,QWHUIDFH5HFRQVWUXFWLRQ$OJRULWKP
ÎÔ ~ uº¾¯Z¸¬²À]©ZÀ¾¿Zl]Zk¶]b]º³uY{Mn½{Z{Z]{Y v¿Z]¶§¾«ZÀyYv¤¯ ¤¯¶¬Àº]uºZl]Zkª¹u²À]¥zd¯ª{Y ª¨¹ ¾³Z¯{Z-±Mb¸k¹bzyYv uY{Mn z¶°À³½Z¸¬uyº¯yu uº¾¯t¯ b¸k®d¿yº.«Y¶du¹u¾¬§yº] {Yv´cyZ^¶§uyYuuºk¹©ZÀ¾¿Zl]Zk ½Y¶¨c Î yYub¸kZ¿ Ï ¶#yZ¨¿¹ Ð ¶d¸kv´#Z¿ Ñ ¬§½Yz]Yvd]Y½{Z{Z]`¬oz¯{Y~yYub¸k½Z¸°d¿yº.«Yyu ¾¨¿b¸kyu©ZÀZ¸¬`À uº¾¯Zl]ZkaZdt¯½Z·yºp¯{Y b¸kyu©ZÀ¹ µvZl³Yuvl¯½{Z{Z]~ uº¾¯Zl]Zkz.¿uyºp¯ ¹y{YuY{Mn½{Z{Z]½Yz]z-Y 3/,& yu¹ uºµuZ dY ¹u¶kyub£u®d¿yº.«Y²¿Yuººª^£±Z¯{¶]b^³¾¿Zl]Zkb¸k¾³Z¯{Z-z· Yºs bYuv· @ ÔÎ ÕÎ ¹ ÕÏ > b£uuº^¸]yº´°] *XH\IILHU HW DO @ ÕÐ > ®d¿yº.«Y¦¿{Y `«uZ¯±vt¯{Y~¶§ayº²¿Y¶]v³uz§µuZ dY©ZÀ¾¿Zl]Zk½Yz]²¿&³Yz-Ç Zl]Zk©ZÀyYv¤¯¹ µuz§b§zo¾¿Zl]Zkyºp¯b¸kyu®À¤d¯yº]¶p ¶p v¿vk±Z¨¯¶]¶kºcZ]µv uº¾¯YvÀ¶p yu±Z¯|°·yº]©ZÀª°yubYnY¹ v´§¾¯b§zo¬dt¯½Z·b¸k YvÀ¶ºc¶d¸kv´#½Z¸¹yª¨¯²¿Yy½Yz] Zl]ZkaZdt¯½Z·yºp¯¬dt¯½Z·b¸kyu±Z¯|°·yº]©ZÀZ¸³Myu¶§v³uz§ uº¾¯ @ ÔÎ ÕÏ ÕÓ ÕÔ ÕÕ ¹ ÕÖ > ZY½Z¸¹y`À¬§yu v¿vkyYv¤¯¶^Zp¯½Yz]¹ µuº]n¿z¹yÇZ]yuµvµy ) {Y ®À´§¾¯µuZ dYª^£±Z¯{aZÈY ²¿Y¶]®¿yYu¾³Z¯{Z-½Yz]¾d¿u¹vp¯b¬²À°·¶] v´§¾Yyª¦¿©º{Yzd°§¾dZ¯v¿Z]¾³Z¯{Z-¦¿yu©ZÀ¶§ayº ½Yz] b¿u¹vp¯²¿Yy 6ZDPLQDWKDQ DQG 9ROOHU @ ÏÑ > v³uz§¶WYyYYy¾´°®d¿yº.«Y ²¿Yyu v³Yºc¾°³©ZÀbYµv³zª¶§¾³Z¯{Zc¶§bYayº²¿Y¶]yZ§½Z´^¯®d¿yº.«Y uzÀ-¾¯ayºz½Z¸¬{Y©ZÀ©Z¤d³Y¹ uºiyZs±M{Y v´cyZ^¹y²¿Y²Zp¯{Y {Y zk½Z¤][wZ§wº ³uº^³¹ t¯>ȯZ§¥zd¯ª ±Z¯{·Z§ª¯Z§yº] 6SOLW 'LPHQVLRQDO 8QVSOLW 0XOWLGLPHQVLRQDO
ÎÕ
©ZÀ b§zo ¾¯º° ½Z·v§ ¶] ±M ±uz§ ¶ZY b«º¸ ¹ ±uº] µuZ aZ^Zp¯ {Y uyYv³Yyµvzª¦¿±uz§¾«Zs¾¿Z³Yºc¶§bY²¿Y¹y²¿Y½Z¸ ²¿Y²À´$°· uyYuYy¥zd¯ª¾£Y¹zÀ±uz§®Àt¶]ª¿Z°c¹y @ ÏÑ > ²¿Y¶§uYuz§xcv¿Z] yº]¹y bYµuZ dYª]Z£|À³n¿za @ ÖÍ > ²¿Yuz]yZ§µvµyZY½Z¸ b¬¶] bY¶dz-yYz£¶kºcuyº¯zd°§¹ µvu¹vp¯¹y Ò Ð Ð ¹y /60 Î ºcyZ]²À«¹Y¹y²¿Y 2VKHUDQG6HWKLDQ @ ÖÎ > ÎÖÕÕ vmz¯ ¦¿{Y¹y²¿Yyu z«Z¨YbÀ°§ -uº¾¯µuZ dY yYv¤¯ ¶¨¿yº]bY¥zd¯ª{Y¶¬ZbÀ°§²¿Y bYz ¥zd¯ªyu¹ ¾ ´¯©ZÀiyZsyub^h¯©ZÀ{Zyu±MyYv¤¯ yYv¤¯ bÀ°§ -`]Yyºc Õ Ð uº¾¯YvÀ @ ÒÖ ¹ ÖÏ > Õ Ð w wI 9 I W ¶§Zl³M{Y -`«uZ¯¹ uyYu¶dºÀZ³bÀ·Z¯¥zd¯ªyu Õ Ð ¶dºÀ½Z¸dÀ°§½Yz] ¹ µv¶dz-z³yu®§b¯Zt¦¿¥zd¯ª½Yz]bYªoª]Z£ -¦¿bpc ½{ZyYº°·¶¬oz¯ Ï uzÀ-¾¯yYz£ ¥zd¯ª±v½wº ³{Y½zÀ-º¬k½Yz]²À´$°· Yºs o¹ -`«uZ¯ªo{Y~ Õ Ð ²¿Y¶]¶§®À´§¾¯µuZ dY¾¨°§`«uZ¯¦¿{Y l¯¹z¶¬oz¯ uv Ð v´¿º- @ ÖÐ > ¹y\À£y¹y²¿Y¥zd¯ª¾]Z¿uy½Z¸¹y±ZÀ¯yuvy¾¯z´] 92) ¹ µuº] ²dYv³uºk¹¿Z¸ ¶¬°k{Y¹ bY¾p½Z¸´czc¢À£u`^Zp¯±MaY{ZÀd¯Y{Y u¹voZcbY²¨°¯¶§½yº¶]bY¥zd¯ªb§zo²Àozk½Z¤]½Yz]¾´À°c ÏÍ ·Z§vyu ®ÀZ]¶dYuzk @ ÖÑ > ¶§µvZl³Y¾¿Z¸Ècª¨¯²¿Yy½ZdYyyu {Yv´cyZ^ Z¸¯yZ-{Z½{Z|¿y¹y{YµuZ dY @ ÖÒ > ¾¨°§aYyw{YµuZ dY @ ÖÓ > ¹ ¹yZ]\À§zc 92) @ ÖÑ ¹ ÖÔ > /HYHO6HW0HWKRG 6PRRWKLQJ 5HLQLWLDOL]DWLRQ
ÎÖ Ó Ð Ð ½v´]°k y {Y¢À¤pc²¿Yyuµvz§w\«Z¯{Y½v´]°k¦¿{Y~ ¹ 92) n¾]Z¿uy½Yz] {Yv´cyZ^±MaZÀW|k¶§uº¾¯µuZ dYuY{M ¹y 3/,& ¹ uY{Mn½{Z{Z]½Yz] Z¸¬²À]©ZÀ¾¿Zl]Zk½Yz]²¿&³Yz-ÇyYub¸k¹y b£u¶d¸kv´#½Z¸¹y¶#z-Y
z´z Z¸³M {Y aZ^Zp¯ ±uº] z]±Z¯{ ¹ ¾v´· ¾-vÀ$À b¬ ¶] ¾«¹ v³yYu ½zcÇZ] ¾¯ uº bY|À#Z³¾p´czgY\«Z£±vz½Z·v´¿Yzyu¶¨´¿Yb¬¶]²À´$°· ¹y¢À ¬c /60 ¹yZ] 92) uyYv³¾cy¹z Ñ Ð ©ZÀb§zo½{Z«v¯ z¿xZ³®§Yzc¾«ZÀaY|¬[Yx¯¶§uz§z±Yºc¾¯ Î bY¾´cºÀ³¹ zÀÀczgY{Yz-Y ®§ZoaÇuZ¯®À´§z´z{Z ¥ºdYz¿º³aÇuZ¯ Ï ¶§v´d·z¿xZ³®§Yzc©ZÀ½Yz] ¾¿Z¤]b«Zoyu Ð {Yv´cyZ^ @ Ï > Ö Ð Zc ÎÏ Ð [ 6 [ 3 ] X ] \ X \ [ X [ ] ZX \ YX [ XX W X w w ¸ ¹ · ¨ © § w w w w ¸¸¹ · ¨¨© § w w w w ¸ ¹ · ¨ © § w w w w w w w w w w w w U U U U P P P \ 6 \ 3 ] Y ] \ Y \ [ Y [ ] ZY \ YY [ XY W Y w w ¸ ¹ · ¨ © § w w w w ¸¸¹ · ¨¨© § w w w w ¸ ¹ · ¨ © § w w w w w w w w w w w w U U U U P P P ] 6 ] 3 ] Z ] \ Z \ [ Z [ ] ZZ \ YZ [ XZ W Z w w ¸ ¹ · ¨ © § w w w w ¸¸¹ · ¨¨© § w w w w ¸ ¹ · ¨ © § w w w w w w w w w w w w U U U U P P P w w w w w w ] Z \ Y [ X ,QFRPSUHVVLEOH 1DYLHU6WRNHV &RQVHUYDWLQH
ÏÍ aÇuZ¯²¿Yyu X Y ¹ Z zyYuz]½Z·¶ «R¯ aZdt¯½Z·yºp¯b¸kyub 3 yZ ! ¾«Z.# x ¹ ¾¨À¯Z´¿u`d¿{º¨¿¹ 6 ¶°#½Z¸¯zcZ· Î v´d· ¾¿Z·¹zÀ³ª¯Z¶°#½Z¸¯zc ª¤g[Zd¶¬°k{Yv³zgR¯©ZÀb§zoz]¶§bY 6J uZ°l³Y{Y¾Z³bz·Z§¹ 6H `]Yyºcª¤g[Zd{Y¾Z³`°#½Z¸¯zc ÎÐ Ð uº¾¯±ZÀ] yu ¾¿Zl]ZkzgY¶]Yy²¿Y Ï [Yx¯ ¦´Àº]\¿z¤cºc¾¿Z¯u\Àuºk¹{Y¾Z³¾«Z.#aYzÀÀcb¬] Ð ©v¯ bYµv ©ZÀuY{M¾¿Zl]Zk½{Z«v¯½Yz]\¿z¤c²¿Y{Y]Z´¯\¬Y¶§uz§¶kºcv¿Z] v³Yµuz§µuZ dY @ ÏÓ ÖÕ ÖÖ ¹ ÎÍÍ > ÎÐ Ð
UHI ] J] UHI \ J\ UHI [ J[ 7 7 J 6 7 7 J 6 7 7 J 6 E U E U E U yu `]Yy ÎÐ Ð J ª¤g[Zd ¾°lo¾cyYzoZ^³Y\¿z Ñ ¹ 7UHI bYkz¯½Z¯u uZ°l³Y{Y¾Z³`°#zc½Yz] 9ROOHU DQG 3UDNDVK @ ÎÍÍ > ÎÖÕÔ ½Z´^¯z]Yy½Y¶]Yy ªt¬td¯Àp¯yu©ZÀb§zo Ò v³uz§¶WYyY `]Yy¢]Z¯ ÎÑ Ð ºcZ·v]¶]Yy²¿Y p¯{Y½uZ¿{_v bz-yYz£µuZ dYuyº¯±Z¤¤ @ ÏÓ ÖÕ ÖÖ ¹ ÎÍÍ > ÎÑ Ð E I I & $ $Z 6 $Y 6 $X 6 O O H] H\ H[ ¶]Yy²¿Yyu & uyYu½zÀ°s`¤´¯½%º«ºyº¯¶]¾.d]¶§bY¾d]Zg IO ¾°loz§ ¹ ¿Z¯ E bYizt¯±vz {Y½zÀ-º¬k½Yz]¾¨#º§uv y ¶d^«Y |À³½z.¿u½Z¸¹ 6RXUFH7HUP &RQYHFWLRQ %RXVVLQHVT 9ROXPHWULF7HUPDO([SDQWLRQ&RHIILFLHQW 3RURXV0HGLDÏÎ
¶¬°k{Yv³yYuuºk¹uZ°l³YzgY±uz§uyY¹b¸k
z§¶§¾¯Z.´·bz±uz§z
uº zdÀ] ¾³Yzp] ½vo {Y v¯Zk ¾°lo Î ¾°loz§¿Y|YZ]¶d¿{º¨¿¹¿Y|Y¹ v¯Zk Ï @ Ï > {Y±Yºc¾¯bYYyM©ZÀ±Z¿zk®§yZbpc½z-¶dt¿yyu¶¨´¿Y¶]¶kºcZ] È]yºczgY ~³ Ð uz§z´z ®¿{Yuz¾¯aÇuZ¯²¿Yªo½Z¸¹y¾yz]¶]©Zo Î Ñ Ð ¾cZ^Zp¯¶¨^½¹yZ·zÀd¯¿zc±Z¨¯ uyYuuºk¹¾cZ^Zp¯`¨^yuZ·zÀd¯±Z¨¯±uz§t¯½Yz]¹y¹u¾¬§yº] Î ª|§z¯yuZ·zÀd¯`°·¿zc Ñ Ï ·z«Z¨Y¹ ªmº|§Yz¯yuZ¸dz¿zc yuZ ±M|§z¯ Ò ª¨ Ò Ð v·u¾¯±Z³½v]¹ub«ZoyuYyZ·¶¨^²¿Y @ ÑÎ > 6ZLWFKHGRII (IIHFWLYH9LVFRVLW\ 7XUEXOHQFH 1RQH6WDJJHUHG*ULG 6WDJJHUHG*ULG
ÏÏ
uº¾¯½uv½Zs{¹z]fZ]®À¤d¯yº]©¹Y¹y{YµuZ dY
¦¿z-Y©Zh¯±Yº´]
ayº] ¾«Yºd¯ ½Z¸¬ yu yZ yYv¤¯ ¶¨¿yº] uº ¶dz- z³ yu Yy ½v] ¦¿ ¶¬X¯ ¿ vZ]z]Yz]±ZÀ¯yv¨ ²¿Y¹ v´§¾¯}ZoYYy½z yZ±Z¿uYz-uºs|§z¯yuªz· uº¾¯}ZoYbsYº´¨¿yZ±YvÀ¯¦¿ayº]¾kº¯yZ±YvÀ¯ ²¿Y¹u¹yyu bYµvzz]ª¨¯ @ ÑÎ > µuZ dYu¹vp¯®lo¦À´¨c¹±Z¯{Z¾]½Z¸¯{Yz-Y $ÀfZ]¹u¹y{YµuZ dYuº uº¾¯uZ¿{¾-vÀ µYz°¸]©¹Y¹y{Yb«Zo²¿Yyu uº¾¯µuZ dY±Z°«Ymº¶]Z¸dz¾]ZÀ³¹yu @ ÎÍÎ > uº¾¯µuZ dY¹u¹y{Y¢À¤pc²¿Yyuµvz§w\«Z¯¶]¶kºcZ] yub«º¸½Yz] ~¿v³Y Z] ª z· |§z¯ bÀ£º¯ Z¸dÀ°§ ±ZÀ] LMN z¯\Àczc¶]¶§uº¾¯t¯ ½Z·yºp¯½¹ybÀ£º¯ [\] b¸kz·yu±Z°«Ymºb°¶]b§zoZ]¹ v´d· ¶] uº¾¯®§Z¿¶ZYb¸k±M~¿v³Y ª¨¢]Z¯ Ó Ð ¢À¤pc²¿YyubYz§w¶]{Ç vv·YºsµuZ dYb]Zg¯©º{Y
ÏÐ Ï Ñ Ð ¯ªo½Z¸¹y ¥ºdYz¿º³aÇuZ
uyYu uºk¹ ¥ºdY z¿º³ aÇuZ¯ ªo ½Yz] ½uZ¿{ Z¸¹y µ{¹z¯Y
Z¸¹y {Y ½Y¶du
yYv¿ZªWZ¯ªo½Yz]zdÀ]¶§µuº]¾´° Î v³¹y¾¯yZ¨] ©Zh¯±Yº´] 6,03/(5 @ ÑÎ > $33/( @ ÎÍÏ > ¹ 3,62 @ ÎÍÐ ¹ ÎÍÑ > ¹y¶d^«Y 3,62 Yyx-ªWZ¯ªoyu Ï uyYuuz]yZ§|À³ ¾saÇuZ¯µZ.du½zj´¾³Z¯{Z-z·yuuyYu{ZÀ³¹y²¿Y¶§uz§¶kºcv¿Z]Z¯Y uº¾¯½zcºÀ¯Z§{Yuz±Z¯{¿Y|YfZ]²¿Y¶§uºªo ¹ µuº]n¿zz.¿u`du v³zÀ-¾¯yYz£µuZ dYuyº¯Yyx-½Z¸d«Zo½Yz]>Z^«Z ¥ºdYz¿º³aÇuZ¯ªo½Z¸¹y²À«¹Y{Y ¹yYyx-b«Zoyu 0$& @ ÐÑ > bY yu aÇuZ¯Yvd]Y¹y²¿Y Ö Ð Zc ÎÎ Ð ¾³Z¯{Z-¶]º]z¯Z¿¾voyZ±YvÀ¯¦¿Z] v³º¾¯ªon¿zyº]¾¬^£ `«uZ¯yu©º¸l¯yZµYz°·¶]¶¬Zo½Z¸dz~ ÎÏ Ð À½yºyZ±YvÀ¯¾s`«uZ¯µZ.du¦¿ªoZ]¹ µvµuYuyYz£ ¶§uº¾¯Yv `«v¯ ÎÏ Ð uºZyY v³º¾¯nÀpcv¿vkyZ}ZYz]Z¸dz±Z¿Zyu ¾¿Z¸Èc bY¶dz-ayº¹y²¿Yuº^¸]b¸kyu®· ½Z¸°d¿yº.«Y`ºcªh¯ 60$& @ ÎÍÒ > ¹ 6,0$& @ ÎÍÓ > ªo©ZÀ½¹Zo½Z¸¬½¹yZ¸´caÇuZ¯Z¸¹y²¿Yyu¶§uYuz§xcv¿Z] v³º¾¯ ®d¿yº.«Yz.¿u¢º¯½Z¸¹y{Y¾¨¿ Ð 62/$ @ ÎÍÔ > bY ªo{Y~®d¿yº.«Y²¿Yyu aÇuZ¯n¿z Ö Ð Zc ÎÎ Ð z·½Yz]{ZÀ³uyº¯yZaYzÀÀcyYv¤¯¾voyZ±YvÀ¯Z] `«uZ¯¶]¶kºcZ]¶³Z-Yvkyº]ª ÎÏ Ð µºk¹½Z¸dz¹ yZ~uº¾¯¶^Zp¯ ³º¾¯mÈY±M `«uZ¯Zcuº¾¯yYz¨cyv¤³Mv´¿Yz²¿Y¹ v ÎÏ Ð ¡uZZ¸¬`À¬§½Yz] vZ] 62/$92) @ ÎÎ > uY{MnZ]µYz°·ªWZ¯ªob¸k®d¿yº.«Y²¿Y`dZ¿¶ºc`t³ bY +LUW DQG 1LFKROV @ ÎÍÕ > ¶]u¹vp¯½z¿x®§Yzc½yYv¤¯±uz§¶ZYZ]v³uYu±Z³ 6WHDG\6WDWH 7UDQVLHQQW 62/XWLRQ$OJRULWKP
ÏÑ ¿Y|Y¾¿Yz.°·bz©ZÀ v]Z¿¾¯ ªo¶]{ZÀ³v¹ ±M¾-uZ¹y²¿Y²Zp¯{Y bY¾saÇuZ¯µZ.du bYuZ¿{yZzÀÀc¶§¾¬WZ¯yu¶§uz§¶kºcv¿Z]Z¯Y aÇuZ¯µZ.du¦¿ªoZ]bYzd¸]uyYº¯²¿Yyu¹ uº¾¯®§yZÀ]¾¿Yz.°·,´·M YvÀ¯ª§½¹y±Z¯|°·yº]YyyZzÀÀc±Y|À¯¾s ®À´§YvÀ± @ ÔÒ > aZoÈY{Y¾¨¿ aÇuZ¯±Z¯|°·_uZ dYbYµvZl³Y¾¿Yz.°·uº^¸]½Yz]¶§½z.¿u Ö Ð Zc ÎÏ Ð bYyZmÈY²Ào @ ÎÔ > ªo©ZÀ½¹Zo½Z¸¬½¹yZ¸´caÇuZ¯|À³¹y²¿Yyu uº¾¯ z-¶dt¿y½Z·v´¿Yzyu\«Z£±vz½{Z¶À^½Yz]¹y²¿Y ²À¤¤p¯ºc½ kYz¯¶¬°k{YbY¶dz-yYz£µuZ dYuyº¯½uZ¿{ Ñ Ó Ô Õ Ö ÎÔ ÎÕ ÎÖ ¹ ÏÍ 352-(&7,21 @ ÔÍ > bYYyx-b«Zoyu¥ºdYz¿º³aÇZ¯ªo½Z¸¹y{Yz.¿u¾¨¿
aÇuZ¯ >Ǻ°¯ ¹y ²¿Y yu Ö Ð Zc ÎÎ Ð yZ ½¹Zo ½Z¸¯zc ²dz- z³ yu ±¹v]
¿z ayº] v³º¾¯ ªo n
[wZ§ ½Z¸dz ~ Î
yu ©º¸l¯ yZ µYz°¸] ¶¬Zo
`«uZ¯ ÎÏ Ð YvÀ½yºyZ±YvÀ¯¾saÇuZ¯µZ.du¦¿ªoZ]¹ µvµuYuyYz£ `«uZ¯¶§uº¾¯ ÎÏ Ð v´§ZyYYy ¶ZY[wZ§½Z¸dz¶]yZ±Z¿uYz-b¿Z¸³yu v³º¾¯YvÀ¾£Y¹½Z¸dz¹ µv y ²¿Y ½yZÀ]¶kºcuyº¯©Zp]Zc¿YvÀ±Z¯{{Y¹ bY¶dz-ayº±Mb£uuº^¸]b¸kyu½uZ¿{½Z¸Èc¹ bY¶dz-yYz£±Z¤¤p¯{Y kYz¯©Zh¯±Yº´¶] ÓÍ ÔÕ ÔÖ ÕÏ ÕÐ ÖÏ ÖÐ ÖÑ ÖÒ ÖÓ ÖÔ ÎÍÖ ÎÎÍ ¹ ÎÎÎ yu {YuY{MnZ]µYz°·ªWZ¯ªo½Yz]±Z¤¤p¯zh§Y¹y²¿Y Yºs½zÀ-²À.³ZÀ¯¹y v³Yµuz§ªo±YvÀ¯ª§½¹yYyaÇuZ¯¹ µuz§µuZ dY kYz¯¶¬°k{Y ÓÍ ÔÕ ÔÖ ÕÏ ÕÐ ÖÏ ÖÐ ÖÑ ÖÒ ÖÓ ÖÔ ÎÎÏ ÎÎÐ ¹ ÎÎÑ Z]v¿vk½Z·yZ§zh§Yvy¾¯z³¶] uzÀ-¾¯ayº±M`ºcb¸kyu¹ zÀsY¹y{YµuZ dY ¯½v´]°k¦¿Z] ½z-¶dt¿y½Z·v´¿Yz½{Z¶À^`´À¯{yu±Z¤¤p¯¶§uº¾¯t ®d¿yº.«Y{YzdÀ] 62/$92) ©ZÀb§zoz.¿u½Z·¶´À¯{yu¶¨À«Zoyuv³Yµuz§µuZ dY ®d¿yº.«YzdÀ]uY{MnZ]µYz°· 3URMHFWLRQ bYµuº]¶kºcuyº¯ ¹yaȨ¯{Y¾¨¿ 62/$92) {YµuZ dY¶§bY²¿Y ½yYv¿ZZ³\kº¯¹ µuº]ª¨¯±MyuyZ½{z¯z 3VHXGR
ÏÒ uº¾¯À¾¿Yz.°·¹ @ Ï > ¹y{Y¢À¤pc²¿Yyu²¿Yz]Z´] 3URMHFWLRQ zÀd¯ YºsZ] vv·YºsµuZ dY Ò Ð \«Z£ªsYu½Yº·½{Z«v¯ {Y¶§bY\«Z£ªsYu½Yº·½{Z«v¯\«Z£±vz½{Z¶À^yu®¸¯ªWZ¯{Y¾¨¿ Yº·½Z·¾k¹zs¾oYzb¸kyu±Yºc¾¯±Mj¿Zd³ Î \«Z£±vzbyu½º.«Y²ÀÀc¹ uz§µuZ dY uyYuuºk¹Yº·½{Z«v¯½Yz]¹y¹uµv°yº] YyYº·©¹Y¹yyu
v³zÀ-¾¯ z³ yu ©Yµv¿Y ¶^ {Z- ¦¿ ayº] `]Yy ºc ±M yZ ¹ ÎÒ Ð ¶^Zp¯ uº¾¯ ¶]Yy²¿Yyu 3 yZ 9 ®lo Q Z¸«º¯uYvc 5 ¹ Z·{Z-¾¯º°b]Zg 7 bYZ¯u v³º¾¿ZZ´¾¿Yº·½Z·µz ov¿Z]Yvd]Y¹y²¿YyubYnY¹ µz o¹uZuY²À´$°· uº¶dz-z³yu¾¿Yº·_z o¦¿±v®À¤cZ¿ ÎÒ Ð Q57 39 ¯ {Z½¹y¤b§zoaÇuZ¯¹y²¿Yyu zayº]Yº·yZ¹ v³º¾¯ªo¿Z uº¾¯©Z°YuY{Mnz]½{z¯ @ Ï ¹ ÎÎÒ > ©Z°Y¶]{ZÀ³¹y²¿YaȨ¯¶¬°k{Y bYuY{Mnz]½{z¯z µuZ dY\¿z¤c{Y®§ZoaÇuZ¯¾-vÀ$Àb¬] ¶§Yz# Yv¤¯¶]b^³uY{Mnbz·Z§Z¿¿Y|YfZ]v³Yºc¾¯¶§uº¾¯ ±M¾¤À¤oy uº @ ÎÎÓ > /HHDQG6KHX @ ÎÎÓ > ªo{YuY{Mnz]½{z¯z©Z°Yb£uuº^¸]½Yz] ¿Yz¶§v³uz§µuZ dYuY{Mn½Z¸dz`^Zp¯½Yz]½{Z-{Zyu}ÈÇ`«uZ¯ bY¿Z¯{Zyub§zoaÇuZ¯ªo{YªZo½Z¸dz¥zd¯ªyu±M½{z¯ Z¯¹u¹yyu v³º¾¯ªozÀd¯ YºsZ]±YvÀ¯ª§½¹yaÇu ¾°loz§z-Y ªz·±¹yu©ZÀ ) `]Yyºcªz·¾«Z.#¹¶d¿{º¨¿¹vZ] ÎÓ Ð uº¾¯YvÀ J ¹ O v´d·¿Z¯¹ {Z-z¯\Àczd] @ ÓÍ ÔÕ ÔÖ ÕÏ ÕÐ ÎÎÏ ÎÎÐ > 9HQW
ÏÓ ÎÓ Ð J O J O ) ) ) ) P P P U U U ¹y{Y¢À¤pc²¿Yyu vv·YºsµuZ dY¹u Ó Ð ¾p½Z¸´c½{Z«v¯ yu¾p´c{Y¾Z³yZ®À´§z´z¾p½Z¸´c¾Z°¯½Z·¶ «R¯{Yz-Y `]Yy{Y¥zd¯ª ÎÔ Ð v´§¾¯bÀ^c ÎÔ Ð VN V 3 ¶]½{z¯zayº]¶^Zp¯{Y~yZ²¿YZ¸¹y¾]yu ¶ZYuY{MnyZ uº¾¯ @ ÎÎ ÔÒ ÔÓ ¹ ÎÎÒ > ¶]¶°#zc¦¿ayº]¾p´czc¢À£u¹yyu uº¾¯¶ZY¥ºdYz¿º³`«uZ¯ Z³¶]¹y²¿Y Î &6) bYyº¸¯ @ ÔÕ ¹ ÎÎÏ > ²¿YyYv¤¯ `]Yy¢]Z¯zc ÎÕ Ð bY ¶]Yy²¿Yyu Q bYuY{Mnz]©Z¯z³`¨¿yYuz] ÎÕ Ð ) Q Q Q Q Q 6VW VN `]Yy{Y®·uY{Mnºd¯½Z´p³YyYv¤¯ ÎÖ Ð uº¾¯¶^Zp¯ ÎÖ Ð » » ¼ º « « ¬ ª x ¸ ¸ ¹ · ¨ ¨ © § x ¸ ¹ · ¨ © § x Q Q Q Q Q Q N &RQWLQXXP6XUIDFH)RUFH
ÏÔ bYµvµuZ dY±M¶]Z¯½Z¸¹y¹ ¹y²¿Y{YµvZl³Y½Z·yZ§zh§Yyu ¶¬°k{Y kYz¯ ÔÖ ÕÐ ÖÑ ÎÎÏ ¹ ÎÎÔ {Y|À³¢À¤pc²¿Yyu uº¾¯µuZ dY¹u¹y Ô Ð {ZzÀÀc¹ ayYzo©Z¤d³Y½{Z«v¯ µuZª¨¶§uº¾¯µuZ dY½%z³Y`«uZ¯{YayYzo©Z¤d³Y½{Z«v¯½Yz]¾¬§yº] `]Yyayº]±M_v ÏÍ Ð bY ÏÍ Ð ¸ ¹ · ¨ © § w w w w ¸¸¹ · ¨¨© § w w w w ¸ ¹ · ¨ © § w w w w ¸¸¹ · ¨¨© § w w w w w w w w ] 7 N ] \ 7 N \ [ 7 N [ ] Z7 \ Y7 [ X7 W 7 FS U U U U ¶]Yy²¿Yyu N ¹ ayYzob¿Yv·\¿z FS zobÀz bYµ&¿¹¾cyY zgY±uz§uyY¹½Yz] uyYuuºk¹¾ ¬dt¯½Z¸¹y{ZzÀÀc yYz£µuZ dYuyº¯¶dx-yu¶§¾¿Z¸¹y{Y¾¨¿ uº]zgR¯¾cyYzobÀzbz-¾¯ uº¾¯¾cyYzobÀzuyY¹{ZzÀÀczgY¹y²¿Yyu `]Yy¢]Z¯ ÏÎ Ð /I bY[¹w±Z¸³½Z¯z-¶]Yy²¿Yyu @ Ö > Y¹ ½Yz]¹y²¿YbYn bÀ³µuZ dYª]Z£¦Àd¨cº¿½Z·%ZÀ«M¹ «ZsaY|¬ªh¯Z¯v°·½Z·uZ°l³Y ¶¨´¿Yz.¯ uº¶dz-z³yuaY|¬²¿Y½Yz]½{Zl¯uZ°l³Y`¬Z¾°§yYv¤¯ ÏÎ Ð VROLGRV V S S OLTXLGRV VROLGRV V O I S OLTXLGRV O S S 7 7 F F 7 7 7 7 7 / F 7 7 F F !
ÏÕ
µuZ dY uyº¯ ¾À¹ yº] µ{¹z¯Y ¶§ Z¸¹y ²¿zd¤À£u {Y ¾¨¿ ¹y bY ¶dz- yYz£
¾«Zd³Y Î uº¾¯µuZ dY±M{Y¢À¤pc²¿Yyu¶§bY `´À¯{yuµvZl³Y½Z·yZ§±ZÀ¯{Y aZ¤À¤pc¹y²¿Y`ºc 9ROOHU bY¶kºcª]Z£³YyZ¨°·¹ @ ÎÎÖ ÎÏÍ ÎÏÎ ÎÏÏ ¹ ÎÏÐ > Z]Yy¾«Zd³Yz-Y + Z]Yy¿Z¯¾°loz§¹ IO {Y¾«Zd³Y®À·u±Z³ `]Yy ÏÏ Ð uº¾¯¶^Zp¯ ÏÏ Ð I O 7 7 OLTXLG O 7 7 VROLG O F G7 I F G7 I / I + UHI UHI
³
U³
U `]Yy¾«Zd³Y¹yyu ÏÍ Ð v¿M¾¯yuz¿{z ] ÏÐ Ð ¸ ¹ · ¨ © § w w w w ¸¸¹ · ¨¨© § w w w w ¸ ¹ · ¨ © § w w w w w w w w w w w w ] 7 N ] \ 7 N \ [ 7 N [ ] Z+ \ Y+ [ X+ W + bY±M±uº]¾szÀ¶«uZ¯²¿Yªoyu¾¬Yª¨¯ ¶«uZ¯²¿Yªo½Yz]¾¿Z¸Èc bYµv¾szÀayº] @ ÎÎÕ > ] ±Z¤¤p¯zdÀ]¾«¹ ¾s¶]Yy¶«uZ¯ Zs¾¹yZ v³Yµuz§ª¿v^c @ ÎÏÍ > v³º¾¯®À¤c¾´°¹ n¿z`du¹u¶]Z¸¹y¾¬§yº] yu+y|] ¾¬Às v³Yºc¾¯ ¾³Z¯{ Z- ¹ ®¿yYv³ ¾³Z¯{ Z- ½¹y ¾d¿u¹vp¯ ¾´° ½Z¸¹y uº[Ztd³Y uZ¯ªo{Y¾Z³½Z¸d¿u¹vp¯b¬¶]¾³Z¯{Z-\«Z£±vzv´¿Yzyu aÇ v´§¾¯ZyYYyn¿z¹y½yYv¿ZyZÀ¯¶§bY¦#º§yv¤³Mb§zo yu²¿Yz]Z´] uº¾¯µuZ dYn¿z¹y{Y¢À¤pc²¿Y `«uZ¯Yvd]Y¶§bYayº²¿Y¶]yZ§¹y ÏÐ Ð n¿zyº]¾«Zd³Y`^Zp¯½Yz] uº¾¯ªo `]Yyºc~ ÏÑ Ð uº¾¯YvÀZ¯u Yy²¿Yyu ½Yz]yº¬Àc]{Y¶] bYµvµuZ dY½{Z¾s @ ÎÏÎ > ÏÑ Ð
>
W W W@
W W W W + + G+ G7 7 7 ¸ ¹ · ¨ © § ' ' (QWKDOS\ÏÖ Z¯u¾´p´¯\À`^Zp¯½Yz] `]Yy{Y¾«Zd³Y ÏÒ Ð uº¾¯µuZ dY 0 ¦#º§½yYv¤¯ ÏÒ Ð V S O I V S O S HXWHFWLF O O I V S O S HXWHFWLF O O S O F G+ G7 I LI / F F G+ G7 7 7 DQG I LI G7 GI / F F G+ G7 7 7 DQG I LI F G+ G7 I LI r r z H H H `]Yy{Y¿Z¯¾°loz§`^Zp¯½Yz] ÏÓ Ð §¾¯µuZ dY ®À´ @ ÎÏÏ > ÏÓ Ð
>
W W W@
W O W O W W O G7 7 7 GI I I ¸ ¹ · ¨ © § ' ' bYZ¯uZ]¿Z¯¾°loz§¾´p´¯\À²ÀÀcb°£²¿Yyu®¸¯ªWZ¯{Y¾¨¿ z-Y bYµuZyZ§vZ]t¯Z¯uZ]¿Z¯¾°loz§`]Yy ¾s`]Yy©Zh¯±Yº´] ÏÔ Ð z·Y±º³Z£ ÏÕ Ð ª¿Z±º³Z£Z¿ ÏÖ Ð @ Ï > ÏÔ Ð VROLGRV OLTXLGRV VROLGRV O 7 7 7 7 I ÏÕ Ð P P O O N 7 7 7 7 N P & I ÏÖ Ð ¸¸¹ · ¨¨© § N O P O P& 7 7 IÐÍ ÇZ]]Y¹yyu 7/LTXLGRV ¹ 7VROLGRV uZ°l³Y`°cZs¹ ¹z½Z¯u\Àczd] & ¶À«¹Y\À§zc PO \À ¾¿ZÀ°À\À§zc\oz]uZ°l³Y¹z¾´p´¯ N ¹ ¿{ºc\¿z 7P [¹w`¤³ yu¶¿Z|¬ bY«Zsb«Zo {YvZ^³uºkº¯¾t¯`]Yy¶§¾d«ZoyuZ¿«ZsaY|¬uyº¯yu `]Yy ÐÍ Ð uº¾¯µuZ dY @ ÎÏÏ > ÐÍ Ð ' ' G7 GI I RU I LI 7 7 I I G7 GI I LI O O O W W W W W O W O O O `]Yy{Y¿Z¯¾°loz§`^Zp¯{Y~ ÐÎ Ð uº¾¯µuZ dY±MmÈY½Yz] @ ÎÏÎ > ÐÎ Ð > @ »¼º «¬ ªPLQ PD[ O O I I z·_&¿¹¾cyYzobÀz¹ ¾«Z.#ayYzo©Z¤d³Y\¿z¿Z¯¾°loz§`^Zp¯{Y~ uº¾¯ ¶^Zp¯ ±M yu ¿Z¯ ¾°lo z§ ¶] `kºc Z] Yy ª
¦¿ {Y yº´¯ ²¿Y ½Yz]
uº¾¯µuZ dYµuZ½zÀ-²À.³ZÀ¯ `]Yy¶³º°³½Yz] ÐÏ Ð \¿z½Yz]Yy¶^Zp¯²¿Y ³ayYzo©Z¤d³Y v·u¾¯±Z ]Zcz¶°À³½Z¸¬uyº¯yu¶§uz§¶kºcv¿Z] ) z.³Z¿Z°³ bYªyuuºkº¯¿Z¯¹ v¯Zk¾°loz§º°l¯ ÐÏ Ð
IO N/LTXLG IO N6ROLG ) N$LUH ) N z³yucuY{Mnyu¶§bY²¿Yzd¸]\«Z£ªsYu½Yº·ayYzo©Z¤d³Yuyº¯yu bpc½z-¶dt¿yyu¶¨´¿Yb¬]Z¯Yuº ²À¿Z[¹w¶¤³½Z·%ZÀ«M{Y®§yZ ¹ ®À´À¯º«M ®¿|À´¯ bY|À#Z³cuº¾¯µuZ dY ½%z³Y`«uZ¯ªo{Yb«º¸½Yz]²¿Yz]Z´] uº¾¯µuZ dYzÀd¯ YºsZ]±YvÀ¯ª§½¹y |¬¥zd¯ªyu©Zo Yº·Z¿\«Z£ uyYuv¿vzÀÀc¾cyYzo Yºs|¬ Yº¿u½¹ybYnY¹ v¿Z]~´l°·zÀª¹u_yÐÎ vZ]ª¹u Yºs{Y¾^À§zc Yºs 9ROOHU @ ÎÏÑ > vZ]±Z¨¯]Zc Yºsz-Yuz§ZuY bY\Z´¯¾v´·²À.³ZÀ¯{YµuZ dY `]Yy ÐÐ Ð ÐÐ Ð » ¼ º « ¬ ª / 5 0 N N N ¶]Yy²¿Yyu N ½Z·~¿v³Y¹ µuº]z³uyº¯bÀZs 05/ # ªz¯\Àczd] ª v´d· ª ¹u ¥zd¯ ª ¹ bYy
²À.³ZÀ¯ {Y µuZ dY vZ] Z¯u ]Zc Yºs z-Y Z¯Y
v´§vÀ«ºcYy½uZ¿{½Zsv³Yºc¾¯¾v´· zÀ§ª¿v^c{YµuZ dYyº´¯²¿Y½Yz] Î uº½zd¤À£u½Z¸]Yºk¶]zl´¯v³Yºc¾¯ @ ÎÏÑ ¹ ÎÏÒ > Yºsuº¾¯z¢À¤pc²¿Yyu ·Z¯u{Yª¤d¯ `]Yy{Y¹ v´d ÐÐ Ð uº¾¯µuZ dY .LUFKKRII
ÐÏ
yZ¸# ª
½uv½{Z«v¯
Î Ñ uY{Mn½uv½{Z«v¯ kYz¯}ZYz]µv[Ztd³Y½uv¹y ÓÍ ÕÐ ¹ ÕÑ vZ]¾¯ n½{Z{Z]¶]Yvd]Y uº¾¯¶dsYuzuY{M `]Yy{YuY{Mnz]©Z¯z³ Î Ñ v¿M¾¯bv] ±uy¹Mbv]½Yz] º-yuYy©Z¯z³Yvd]Yª|§z¯yu©Z¯z³ µuz§YvÀZ·¶ `]Yy Ï Ñ ½zÀ-²À.³ZÀ¯Z]~¹ ²À] Õ uº¾¯¶^Zp¯ª|§z¯yu©Z¯z³ ªz·`º- `]Yy Ð Ñ Î Ñ ) Q Ï Ñ ] N M L N M L N M L N M L N M L N M L N M L N M L N M L ] \ N M L N M L N M L N M L N M L N M L N M L N M L N M L \ [ N M L N M L N M L N M L N M L N M L N M L N M L N M L [ ) ) ) ) ) ) ) ) Q ) ) ) ) ) ) ) ) Q ) ) ) ) ) ) ) ) Q G G GÐÐ Ð Ñ N M L N M L N M L N M L N M L N M L N M L N M L N M L Q Q Q Q Q Q Q Q Q ¶°À³½Z¸¬yuYyuY{Mnz-Y ¿ Z]z ¢]Z¯¶p `«uZ¯uºµu{\¿z¤c¶p ¦ `]Yy Ñ Ñ uº]v·Yºs ¶]Yy²¿Yyu . bYªyuaZdt¯Yv^¯Z]¶p `¬Z²¿zd°§ v´d·ª|§z¯¶]º]z¯©Z¯z³yYuz]½Z·¶ «R¯¹ Z]Yyª±¹yu©ZÀ®loz-Y 9ROXPH `]Yy®À·u±Z³ Ò Ñ uº]v·YºsyYz£z] Ñ Ñ D Q \ Q ] [ Q[ \ ] Ò Ñ
°¿ ° ¾ ½ °¯ ° ® ! » » » » ¼ º « « « « ¬ ª
¦
¦
PD[ PD[ PD[ [ IRU [ IRU [ + F Q F Q F Q F F F Q Q Q Q Q Q F Q F Q + F Q F Q + Q Q Q 9ROXPH ] \ [ ] \ [ M M M M M M M M M M D G G G D D D D D D DÐÑ `]Yy¶]¶kºcZ] Ò Ñ `^Zp¯½Yz] . `«uZ¯bY{ZÀ³ Ò Ñ \oz] . uºªo ªo½Yz] ¶«uZ¯²¿Y *XH\IILHU HW DO @ ÕÐ > uº¾¯µuZ dY±M{Y¶§v³uz§uZ¸´ÀYy¾Zs¹y ½Yz]¾³Yzp]z¿uZ¤¯ . ¶§uyYuuºk¹ uyx-¾¯ª½Z·¶º-¾¨¿{Y¶p Z¸³M½Y{Y¶]
¶«uZ¯ ¾³Yzp] yYv¤¯ ¹u z· ²À] Ò
Ñ ±M ½Yz] ¹ µuº] º ¶kyu ½Y¶¬°k v´# ayº]
uyYuuºk¹¾¬À¬pc[Yºk ¾³Yzp]yYv¤¯¹uYvd]Y²¿Yz]Z´] . ½zÀ-¶¿yºc~¶dZ¿Yy . uº¾¯YvÀ kYz¯¶]zdÀ]`«Z¯½Yz] ÓÍ ÕÐ ¹ ÕÑ uººky vy¾¯Z¸¬²À]©ZÀ¾¿Zl]Zk¶]b]º³uY{Mn½{Z{Z]{Y~ >È^£¶§yº³Z°· `]Yy{Y¶¬oz¯²¿YyuvµyZY Ó Ñ uº¾¯µuZ dY 8 bYbzyYuz] Ó Ñ x x w w 8) ) 8 W ) `«uZ¯{YYvd]Y Ó Ñ d³Y¾³Z¯{_{Z]¹ ©zd´§®lo½¹y uº¾¯¶dz-©Yz. Ô Ñ
³
³
³
³
³
³
: w w: x : x w N M L N M L N M L W GWG9 8) Q GWG6 ) 8 GWG9 ) W W W `]Yy¾¿Zl]ZkyYub¸k®d¿yº.«Y{YµuZ dYZ] Ó Ñ v¿M¾¯yuz¿{ayº] Õ Ñ¦
³
³
³
³
³
: : : » » ¼ º « « ¬ ª w w x »¼ º «¬ ª O O O O O O G9GW [ X ) GW G6 8 ) G9 ) ) ) ) ) ) N M L O N M L W W ½Z·~¿v³Y Î Zc Ð v´d· ©ZÀ ¾¿Zl]Zk aZ¸k z¯ ÇZ] `«uZ¯ yu`¬oz¯ z· ½Yz]
`«uZ¯yu¾¿Zl]Zk ®¿yYuÇZ]
ÐÒ Ö Ñ
G9GW [ X ) GW G6 X ) G9 ) ) O O O O O O O O N M L O N M L w w³
³
³
³
³
: : : W W bº³z¿{ayº]YyÇZ]`«uZ¯±Yºc¾¯ ÎÍ Ñ G9 ) ) G9GW [ X ) GW G6 X ) ) ) N M L N M L O ] \ [ N M L O O O O O O O N M L O N M L ] \ [³
³
³
³
³
: : : w w G G G G G G W W `«uZ¯ yu ÎÍ Ñ ¶^Zp¯ ¾v´· ¹z] ¶§ uyYu ½uZ¿{ bÀ°·Y bYy b° ©¹Y zcuº¾¯ l]Zkµv½{Z{Z]`p ½yº^©ZÀ¾v´·`^Zp¯½Yz] uº¾¯Z ½Z¸d¸k ~¿v³YZ]¾¿Zl]Zk Î Ï ¹ Ð v³º¾¯µuYu±Z³ b¸k½Yz]Yy¾¿Zl]Zk Î ¶§®À¿º³¾¯ uº¾¯ª°¶]Z¯¹z]aZ¸kz¿Z½Yz] #b°_yYº¿uuº¾¯z¾-uZ½Yz] yu [ yubYyb°_yYº¿u¹ [ K F \Àczd]Z·µyYº¿u²¿Ybz¹ uyYuyYz£ 8 ¹ 8K bY {Yuº]v·YºsayZ^ªZ¤³z¿Zbz¾s¾]ZÀ³¹yu¦¿Z] ÎÎ Ñ 8 [K K [ 8 [ X K ¸ ¹ · ¨ © § v´d·b]ZgZ¸dz¾¿Zl]Zk±Z¯{©ºyuuº¾¯z v·YºsayZ^Z¤³v¿vk±Z¨¯ {Yuº] ~¿v³Y Q bY¾¬^£¾³Z¯{Z-z¯ ÎÏ Ñ
W W W K [ 8 8 8 [ X [ [ Q Q K Q » » ¼ º « « ¬ ª ¸ ¹ · ¨ © §
ÐÓ ; ; v´d·b]Zg¾¿Zl]Zk²¿Y©ºyu uº¾¯¶lÀd³¾¬^£`]Yy{Y ÎÐ Ñ W W K 8 8 8 [ [ K Q `]Yyayº]¾¿Zl]Zk{Y~¶p `«uZ¯©Zo ÎÑ Ñ Z¿ ÎÒ Ñ vv·Yºs ÎÑ Ñ
Q Q Q Q Q K Q Q [ Q [ K 8 8 8 [ Q D W W » » ¼ º « « ¬ ª ÎÒ Ñ GLUHFWLRQ RWKHU IRU 9DOXH ROG K 8 8 8 Q K 8 8 Q Q [ Q [ Q [ Q K Q Q K Q Q W W D D W D bYµvuyY¹¶¿Z°·½Z¸¬¶]©ZÀyYv¤¯¶#¶§uº¾yz]v¿Z]¾¿Zl]Zk{Y~ >Èh¯ z-Y 8K ¹ b^h¯ . Q {Yzd-y|] K bYyb°ªuyY¹©ZÀ½yYv¤¯v·u¾¯±Z³vZ] bYµv `]Yyºc¾doYz]yYv¤¯²¿Y Ò Ñ uº¾¯¶^Zp¯ ½Yz] ¦¿{Yyº´¯²¿Y `]Yy¢]Z¯ª¿v^c ÎÓ Ñ uº¾¯µuZ dY ÎÓ Ñ K [ [ cbY bYy b° ª # b° _yYº¿u {Y `¬Z v¿vk aZdt¯ ¶§ `«uZ¯ ÎÒ Ñ `]Yyayº] ÎÔ Ñ v¿M¾¯yu
ÐÔ ÎÔ Ñ K Q [ Q [ Q [ Q c c c D D D `«uZ¯ ÎÔ Ñ ©ZÀyYv¤¯`^Zp¯½Yz] u¹y¾¯yZ¨]bYyb°ª¶]µvuyY¹ yYv¤¯ uº¾¯¶^Zp¯¶]Z¯yº]µvuyY¹#b°ª¶]>Z³ZÀoY¶§¾«ZÀ yYv¤¯b¿Z¸³yu `]Yy`¬Àº]µv³Z¯¾£Z]©ZÀ ÎÒ Ñ ¹ Ò Ñ uº¾¯¶^Zp¯ ª±¹yu©ZÀyYv¤¯¾¬§yº] `]Yy¢]Z¯b¸k¦¿yu¾¿Zl]Zk{Y~ ÎÕ Ñ º]v·Yºs u ÎÕ Ñ
>
@
° ¯ ° ® ! ° ¯ ° ® ! OHIW OHIW N M L N M L ULJKW ULJKW N M L N M L N M L N M L [ N M L X LI X LI FHOO OHIW IURP HQWHULQJ IOXLG FHOO LQ UHPDLQLQJ IOXLG X LI X LI FHOO ULJKW IURP HQWHULQJ IOXLG ) I I I I I I ~¿v³Yb¸k¶yu¾¿Zl]Zk{Y~ ¶]ª¿v^c Q uº¾¯v¿vk¾³Z¯{Z-¾´¿ ¿Yz ]Zc½Yz]½{z¯ ) `]Yy¢]Z¯®· ÎÖ Ñ uº]v·Yºs ¶§bYayº²¿Y¶]yZ§½Z´^¯ ±Z¿uYz-) s ¹ zµyYº°·Z·½u¹y¹uº]v·Yºsz Z·µyYº¿u½¹y ¾«ZsµyYº°·Z·¾k¹z v´d· ÎÖ Ñ ° ° ° ¯ ° ° ° ®
¦
¦
RXWOHW LQOHW QE FHOO IOXLG QHLJKERXU QE FHOO IOXLG DGMDFHQW ZDOO ) ) Q ) RU ) )ÐÕ Ï Ñ u¹vp¯ÈdsY¹z]½YµyZªÀ³Yz ¿uaÇuZ¯½{Z¶d-`]Yy ÏÍ Ñ ¾¨¿|ÀbÀZs½Yz]¾¿Z¤]b«ZoyuYy©Z¤d³Y`«uZ¯¦¿¾¬§ª¨ -±Z³ v·u¾¯ ¶«uZ¯²¿Yyu ZYX v´d·bzyYuz]½Z·¶ «R¯ ¹ = ¾¨¿|ÀbÀ°§wº ³\¿z bY {Yv´cyZ^¶§uº¾¯µv¿uzcº³yZ¸#¶«uZ¯²¿Yyu ½wº ³¾¿Zl]Zk¾³Z¯{zc ¶°#¹ vZ]¾¯±Z¯{Z]bÀZsaYzÀÀcz¯¾³Z¯{zc ©Z¤d³Y_v´·u±Z³¾¿Zl]Zkzc Y b§zob¸k]ZczgY²¿YbYnY¹bY©ZÀb§zozgYyubÀZs b ½wº ³zc yu©Z¤d³Y²¿YÀp¯±uº]².°·ayºyu¶§v·u¾¯±Z³Yywº ³zgYyubÀZs©Z¤d³Y bYbÀZs[xkZ¿vÀ«ºc^´¯z¯¶°#zc¹ bY±Z¨¿aZ¸k`°· ÏÍ Ñ VRXUFH GLIILXVLYH DGYHFWLYH WLPH 6 ] ] \ \ [ [ ] Z \ Y [ X W I I I I I U I U I U UI ¸ ¹ · ¨ © § w w * w w ¸¸¹ · ¨¨© § w w * w w ¸ ¹ · ¨ © § w w * w w w w w w w w w w Î Ï Ñ ¾³Z¯{zc½{Z¶d-uZ¯ ¾³Z¯{ zc ½{Z¶d- ½Yz] `« ÏÍ Ñ ayº] ÏÎ Ñ uº¾¯ ¶dº³ ¶] ¶kºc Z] ±Z¯{¶]b^³¹y±uº]n¿z ~¿v³Yuº¾¯z Q bY¾³Z¯{Z-z¯ ²¿Yz]Z´] ®¿yYu WQ WQ/W `]Yy{Y½zÀ-©Yz.d³YZ] ÏÎ Ñ `]Yy±Z¯{¶]b^³ ÏÏ Ñ ªZo uº¾¯ ÏÎ Ñ I I I I / W W GW W G ÏÏ Ñ
W GW / GW GW G Q Q Q Q W W W W Q Q
³
I I I³
IÐÖ `]Yy#b°©Yz.d³Y`^Zp¯½Yz] ÏÏ Ñ uyYuuºk¹¬dt¯½Z¸¹y ±º#¹zyu uº¾¯µuZ dYz«¹Y©¹Y¶kyu¦À´¨c{YbYuºkº¯¶À«¹Y¿YzZ¸´c `]Yy ÏÐ Ñ ²¿Y bY¶dz-yYz£µuZ dYuyº¯½uZ¿{_vºc¹y @ ÎÎ ÐÑ ÔÍ ÔÒ ÔÓ ¹ ÕÐ > ¶¯YuYyu ¹u¶kyu¹y{Y $GDPVEDVKIRUWK @ ÖÐ ¹ ÎÏÓ > uº¾¯µuZ dY `]Yy ÏÑ Ñ ¶d^«Y º¶kyu¹yªh¯zcÇZ]b£uZ]¾¿Z¸¨À´¨c 5XQJH.XWWD @ ÎÏÔ > Zl´¿Yyu¶§v³yYuuºk¹ uº¾¯z´zZ¸³M{Y ÏÐ Ñ Q Q Q I G W / I ÏÑ Ñ ¸ ¸ ¹ · ¨ ¨ © § Q Q Q Q Q Q Q Q Q Q W / W / W W W W G G G G G G I I Ï Ï Ñ
½wº ³½Z¸¯zc½{Z¶d-ªZ c ¹u ¶kyu ¹y {Y ½wº ³ ½Z¸¯zc ½{Z¶d- ½Yz] ]Z´¯ ¾¯Z°c yu >Z^¿z¤c bYµvµuZ dY½|§z¯ kYz¯©Zh¯±Yº´] ÎÎ ÐÑ ÔÍ ÔÒ ÔÓ ¹ ÕÐ ±M{Y|À³Zl´¿Yyu uº¾¯µuZ dY ¸dÀ°§½Yz] uº¾¯¶^Zp¯ª|§z¯yuzc²¿YZ¯uªh¯z«Z¨Y½Z ¢]Z¯ z¿{]Y¹y ÏÒ Ñ
[ N M L N M L N M L N M L N M L N M L [ [ N M L N M L N M L [ N M L N M L N M L [ N M L N M L N M L [ [ [ [ G I I I I G G I I G I I G I I I * * ¸¸¹ · ¨¨© § * ¸¸¹ · ¨¨© § * ¸ ¹ · ¨ © § w w * ¸ ¹ · ¨ © § w w * ¸ ¹ · ¨ © § w w * w wÑÍ uº]v·Yºs¶]Z¯ayº]]Y¹y®·z.¿u½Z¸¯zc½Yz] ÏÓ Ñ ¹ ÏÔ Ñ ÏÓ Ñ
\ N M L N M L N M L N M L N M L N M L N M L \ \ G I I I I I * * ¸¸¹ · ¨¨© § w w * w w ÏÔ Ñ ] N M L N M L N M L N M L N M L N M L N M L ] ] G I I I I I * * ¸ ¹ · ¨ © § w w * w w u ¾¨¿|ÀbÀ°§wº ³\¿z uº¾¯¶^Zp¯¾v´·²À.³ZÀ¯`¬Àº]®·Z·µyYº¿uy ¢]Z¯ `]Yy ÐÐ Ð _yYº¿u½Yz]¶³º°³±Yº´] LMN bYu®À·Yºs ÏÕ Ñ » » ¼ º « « ¬ ª * * * N M L N M L N M Lv³º¾¯ ¶^Zp¯ Z¸¬ _yYº¿u ½¹y ½wº ³ ½Z¸¯zc bz yYuz] ½Z·¶ «R¯ `^Zp¯ ½Yz] ¿Yz-Y¶³º°³±Yº´] bÀ°§² X ]Y¹yvZ] ÏÖ Ñ Zc ÐÎ Ñ bYu®À·YºsYy ÏÖ Ñ
[ N M L N M L N M L N M L N M L N M L N M L X X X X [ X [ G P P P ¸ ¹ · ¨ © § w w w w ÐÍ Ñ \ N M L N M L N M L N M L N M L N M L N M L X X X X \ X \ G P P P ¸¸¹ · ¨¨© § w w w w