ࡱ > 5@ Q bjbj22 J_ X X + d d d d d d d d Ї Ї Ї 8 4 d 4 Ј Ј $ R V 9 d I I I d d Ј k k k I . d Ј d k I k k G d d X Ј Pi Ї w wM 0 > N
J m J 0 X d d d d d d X p J d x I I k I I 5 A d d $ y U d d y ! ! ! ! ! ! ! ! !
#20605;;538!
0?@02;O5< 2017>@ F5=B@0;L=>9 @>AA89A:>9 ?@5AAK ?> A>F80;L=>9 B5<0B8:5.
1@0I05< 20H5 2=8, GB> 2 >17>@ 2E>4OB 2A5 ?C1;8:>20==K5 2 F5=B@0;L=>9 ?5G0B8 ?> 40==>9 B5<0B8:5 2=5 7028A8AB8 >B B>3>, A>2?0405B 8E A>45@60=85 A B>G:>9 7@5=8O @C:>2>4AB20 $>=40 A>F80;L=>3> AB@0E>20=8O >AA89A:>9 $545@0F88 8;8 =5B. 0?><8=05 >?C1;8:>20==K5 2 ?@5AA5 :><AB8 8A?>;=8B5;L=KE >@30=>2 $!! $, O2;ONBAO 02B>@A:8<8 <0B5@80;01O70B5;L=> A>3;0A>20=K A @C:>2>4AB2>=40, 3CB A>45@60BL >H81:8 8 =5 4>;6=K 8A?>;L7>20BLAO 2 :0G5AB25 @C:>2>4AB20 : 459AB28N 157 A>3;0A>20=8O A> A?5F80;8AB03> 0??0@0B0 $>=40.
2 7 0?@5;O 2 0 0 6 3>40
$ !&, !" %/. !&,/ "
! =0G0;0 2 0 0 6 3>40 2 %0:0A88 =0 ?@>872>4AB25 ?>AB@040;8 8 2 G5;>25:0
( =B5@=5B- 035=AB2> R E G I O N S . R U 2 7 . 0 4 . 2 0 0 6 1 3 : 5 6 h t t p : / / w w w . r e g i o n s . r u / n e w s / 1 9 7 2 3 6 7 / )
> 40==K=40 A>F80;L=>3> AB@0E>20=8O ?> 5A?C1;8:5 %0:0A8O, 70 1 :20@B0; 2 0 0 6 3. =0 ?@>872>4AB25 ?>AB@040;> 8 2 G5;>25:0, GB> A>AB02;O5B 6 5 % : G8A;C ?>AB@0402H8E 2 1 :20@B0;5 2 0 0 5 3. 8 5 3 , 9 % : A>>B25BAB2CNI54C 2 0 0 4 3. B872>4AB25==>3> B@02<0B87<0 A BO65;K4><. 0 3 3>40 BO65;K5 B@02872>4AB25 ?>;CG8;8 1 0 G5;>25:, GB> =0 2 8 , 6 % 38G=>3> ?5@8>40 2 0 0 5 3. 8 =0 4 4 % =865 C@>2=O 2 0 0 4 3>40. 0 1 :20@B0; 2 0 0 6 3. =0 ?@>872>4AB25 ?>381;8 4 G5;>25:0 ( 2 0 0 5 3. - 7 G5;>25: , 2 0 0 4 3. - 3 G5;>25:0) .
0: A>>1I8;8 :>@@5A?>=45=BC R E G I O N S . R U 2 ?@5AA- A;C615 ?@028B5;LAB20 @5A?C1;8:8, 2 A2O78 A =5AG0AB=K<8 A;CG0O872>4AB25 >AC40@AB25==>9 8=A?5:F859 B@C40 =0?@02;5=> 2 >@30=K ?@>:C@0BC@K 1 6 2 4;O ?@82;5G5=8O : C3>;>2=>9 >B25BAB25==>AB8 ;8F, 28=>2=KE 2 =0@CH5=8OE B@C4>2>3> 70:>=>40B5;LAB20.
0 A>:@KB85 BO65;KE =5AG0AB=KE A;CG052 ?@82;5G5=K : 049 >B25BAB25==>AB8 ?@54?@8=825=:> . . 8 48@5:B>@ ' &8B045;L- ! (5 . . @>3>, 70 2KO2;5==K5 2 E>45 @0AA;54>20=8O BO65;KE =5AG0AB=KE A;CG052 =0 ?@>872>4AB25 =0@CH5=8O 70:>=>40B5;LAB20 >1 >E@0=5 B@C40 ?@82;5G5=K : 049 >B25BAB25==>AB8 4>;6=>AB=K5 ;8F0 10:0=A:>5 AB@>8B5;L=>- =B06=>5 C?@02;5=85 !B0;L:>=AB@C:F8O , 10:0=203>=7 , # ;03>CAB@>9AB2> 3. '5@=>3>@A:0 , $ . 8 =5:>B>@K5 4@C385.
'5@4K=A:85 H:>;L=8:8 ;5B>B?@02OBAO 2
M:A?548F88 8 ?>E>4K
( " 5@E=5:0=>2
>;55 ?OB8 BKAOG G5@4K=A:8E 45B59 >B4>E=CB MB874>@>28B5;L=KE ;035@OE.
0: A>>1I8;0 A?5F80;8AB ?> >1I5<C 8 A@54=51@07>20=8N C?@02;5=8O >1@07>20=8O '5@4K=A:>3> @09>=0 0@8=0 >;>E20AB>20, G5@4K=A:85 @51OB8H:8 1C4CB >B4KE0BL 2 703>@>4=KE, 4=52=KE ;035@OE, ;5B=8E B@C4>2KE >B@O40E, >B?@02OBAO 2 BC@8AB8G5A:85 ?>E>4K 8 M:A?548F88. @>3>, =08A:>2K5 8 35>;>38G5A:85 M:A?548F88 2 @07=K5 C3>;:8 AB@0=K. ?>E>4K >B?@02OBAO 2 8 8 H:>;L=8:>2 ( 2 ?>H;>4C 8E 1K;> ?>GB8 242>5 74>@>2;5=85 45B59 3 ;CG5=> 87 D>=40 A>F80;L=>3> AB@0E>20=8O. ?@>H;>4C =0 ;5B=89 >B4KE 87 >1;0AB8 1K;> =0?@02;5=> 1 @>9 3>4 2 @09>=5 ?@0:B8:C5BAO B0: =07K20520O A8AB5 :>B>@>9 >F5=820NBAO 2A5 CG@5645=8O, 70=8<0NI85AO 45BA:874>@>2;5=85>I@ONBAO , 4;O =8E ?@8>1@5B05BAO =>2>5 >1>@C4>20=85.
@09>=5 @01>B0NB 420 703>@>4=KE ;035@O: >;>A>: 8 58ABL ?CB52:8 2 =8E A>AB028B 2 MB>4C 7 1 0 0 @C1;59. >48B5;LA:89 27=>A - 5 0 0 @C1;59, >AB0;L=>5 :>4C 2 @09>==>=:C@A5 =0 >74>@>2;5=85 45B59 CG0AB2>20;> 6 9 ?@>3@0<H;> ;8HL 4 5 .
>65B A>FAB@0E
( #4;5G820=85 2 A0=0B>@=KE CA;>28OE - >4=0 87 459AB25==KE ;5205AB8, A2O70==>9 A 2@59 =5B@C4>A?>A>1=>ABLN, 2>AAB0=>2;5=8O B@C4>A?>A>1=>AB8 70AB@0E>20==KE 3@0640=, A=865=8O 8=20;84=>AB8 A@548 @01>B0NI53> =0A5;5=8O. 2 0 0 5 3>4C @5018;8B0F8N 2 CA;>28OE A?5F80;878@>20==KE >B45;5=89 A0=0B>@8O 5B0;;C@3 ?>;CG8;8 1 5 2 8 70AB@0E>20==KE 3@0640=, 4;O :>B>@KE @538>=0;L=KB45;5=85=40 A>F80;L=>3> AB@0E>20=8O $ ?> #49 5A?C1;8:5 ?@8>1@5B5=K ?CB52:8 =0 AC<<C 157 3> 3 0 40 4>;5G820=85 ?@>2545=> 4 3 1 70AB@0E>20==>1@5B5=85 ?CB52>: >B45;5=85 8 , 7 ;>38G5A:>B45;5=88 A0=0B>@8O ?>;CG8;8 ;5G5=85 1 2 3 G5;>25:0, 2 =52@>;>38G5A:>M=B5@>;>38G5A:>4C 2 A>>B25BAB288 A ?>AB0=>2;5=85B 0 6 . 0 1 . 2 0 0 6 3. 8 ?@8:07>>E@0=5=8O 8 A>F80;L=>3> @0728B8O ! 4 4 >B 2 7 . 0 1 . 2 0 0 6 3. @0AH8@5= ?5@5G5=L 701>;520=89, ?>4;560I8E 4>;5G820=8N 2 CA;>28OE A0=0B>@8O.
"5?5@L A?8A>: 1>;L=KE, 8 =0 4>;5G820=85 2 A0=0B>@8OE 70 AG5B A@54AB2 $>=40 A>F80;L=>3> AB@0E>20=8O, C25;8G8;AO 242>5. 0=LH5 =0 4>;5G820=85 70 AG5B A>FAB@0E0 3;8 @0AAG8BK20BL @01>B0NI85 ;N48 A =0@CH5=85< 73>2>3> :@>2>>1@0I5=8O, ?5@5=5AH85 8=D0@:B :0@40, >?5@0F88 =0 A5@4F5 8 AC40E, 0 B0:65 >?5@0F88 ?> ?>2>4C O725==>9 1>;57=8 65;C4:0 8 4@. , 87 AB0F8>=0@0 >=8 =0?@02;O;8AL ?@O 2 A0=0B>@89. ! 2KE>4>2>3> ?@8:070 : =8;L=KE: 15@5?5@0F88 ?> ?>2>4C ?0=:@50B8B0, 0 B0:65 AB@040NI85 =5AB018;L=>9 AB5=>:0@4859 8 A0E0@=K2K9 ?@8:07 1>;55 G5B:> @53;0@O4>: >B1>@0 ?0F85=B>2 =0 ;5G5=85.
8=8AB5@AB2>>E@0=5=8O #49 5A?C1;8:8 ?@>2>48BAO @01>B0 ?> ?>43>B>2:5 ?@8:070 >1 >B:@KB88 42CE 4>?>;=8B5;L=KE A?5F80;878@>20==KE >B45;5=89 : B@5< =K=5 459AB2CNI8 7025@H5=88 MB>3> ?@>F5AA0 @538>=0;L=>5 >B45;5=85 =0?@028B 70O2:C 2 $>=4 A>F80;L=>3> AB@0E>20=8O $ > =5>1E>48AB8 C25;8G5=8O 2 2 0 0 6 3>4C D8=0=A8@>20=8O =0 4>;5G820=85 3@0640= 2 CA;>28OE A0=0B>@8O.
&,+ "+
!:>@0O ?>IL >B <8B@8O 54254520
+ 28F5- ?@5<L5@ A;02;L, GB>1K 2KOA=8BL, !, !"/" ! & & "
( >AA89A:0O 3075B0 2 7 . 0 4 . 2 0 0 6 )
<8B@89 ;0482 / !,
878B 4;8;AO 2A53> =5A:>;L:> G0 A>2, ?>MB>AB@ @07=KE >1J 5:B>2, A>25I0=85 A <5AB=K2>48B5;O1I5=85 A 68B5;OE>48;8 C 54254520 2 CA:>@5==>< @568A5B8; AB@>9:C =>2>3> 68;>3> @09>=0. AB@52 C65 ?>GB8 3>B>2K5 : A40G5 4>:;04 3C 15@=0B>@0 >1;0AB8 =0B>;8O 8 A8FK=0 > E>45 @01>B, 5425452 A>>1I8;, GB> 68;>5 AB@>8B5;L AB2> 2 F5;>=0;L=>3> ?@>5:B0 >ABC?=>5 68;L5 4>;6=K >ACI5AB2;OBLAO ?> >?@545;5==>9 48:5.
1 5 2 0 ?@>F5=B>2 >1I53> >1J53> AB@>8B5;LAB 20 4>;6=> ?@8E>48BLAO =0 A>F8 0;L=CN 8=D@0AB@C:BC@C. K :0:- B> >1 MB>2>@8 : 68 ;LN =C6=> >1O70B5;L=> 70@0=55 ?@8AB53820BL A>F80;L=CN AD5 @C, AG8B05B E20;8; ?@0:B8:C 5A;02A:>9 >1;0AB8 A8 AB5B5G=>3> :@548B>20=8O, ?@8 :>B>@>9 :@548B =0 68;L5 6=> 1@0BL A@>:>40. @8 MB> 8?>B5G=K< :@548B0 =5 2KA>:8 2A53> 1 2 ?@>F5=B>2. C15@=0B>@ 8A8FK= >15I05B 2 1;8609H55 2@5. 7 ?@>F5=B>2. 5@>OB=55 2A53> MB>B >?KB 1C45B ?5@5=5A5= =0 D5 45@0;L=K9 C@>25=L.
>;LH5 2A53> 2>;L=>=5, >B:@KB85 :> B>@>3> A>AB>O;>AL 2G5@0 2 /@> A;02;5. !B@>8B5;LAB2> AB048>=0 ?@>E>48;> 2 @0B2>@8 B5;L=>9 ?@>3@0<< 45BO1@02H8=5 68B5;O@>40, 5425452 ?>65;0; 2A5 3> 74>@>2LO. @8E>48B5 =0 AB0 48>=, 8 2A5 C 20A 1C45B E>@> H> , 70O28; <8B@89 5425 452.
<5AB5 A ?5@2K< 28F5- ?@5B:@KB85 AB048>=0 ?@8H;0 >;8<?89A:0O G5=:0 ;8=0 010520. / 2>>1I5- B> A?>@BA;L:> >4=> 1C4CB E> @>H85 CA;>28O 4;O A?>@B82=KE 70 =OB89, 1C4CB 8 E>@>H85 @57C;LB0 BK. 45AL O 286C 7028O 4;O B@5=8@>2>: , A:070 ;0 2 A2>5A;02;5 25; A>25I0=85, =0 :>B>@>1AC640;>AL 2K?>;=5=85 =0F8> =0;L=>3> ?@>5:B0, A2O70==>3> A 9. 5@2K5 BK C1548;8 @50 ;870F8O =0F?@>5:B>2 7028A8B >B A>1AB25==>9 0:B82=>AB8 AC1J5: B>2 $545@0F88 , A>>1I8; ?5@ 2K9 28F5- ?@5B:@K20O A> 25I0=85.
A> 2B>@>3> ?>;C3>48O 2 0 0 13>- 40 G8A;> ?>;CG0B5;59 =04102>: 2 AD5@5 74@02>>E@0=5=8O 1C45B 7=0G8B5;L=> @0AH8@5=>. >?;0 BK ?>;CG0B @01>B=8:8 D5;L4H5@ A:>- 0:CH5@A:8E ?C=:B>2, 0 B0:65 2@0G8 8 D5;L4H5@K A:>@>9 ?> I8 . -B8 2K?;0BK ?>72>;OB A3;048BL BC =0?@O65==>ABL, :>B> @0O 2>7=8:;0 2=CB@8 3> A>>1I5AB20 ?>A;5 B>3>, :0: 4>- ?;0BK ?>;CG8;8 ;8HL B5@0?52BK.
@>3>, ?> A;>2040 2 @538>=K 1C45B ?5@540=> A0=8B0@=>3> 02B> B@0=A?>@B0 =0 AC<<C 3 , 5 1028;, GB>, CG8BK20O AC@>2K9 @>A A89A:89 :;8AB@0=AB20, ?@028B5;LAB 2> @0AA?@>A > ?> AB02:0E 2 =5:>B>@K5 @538>=K A?5 F80;L=KE 4>2.
@05:B0, A2O70= =>3> A> 74@02>>E@0=5=852>48BAO @01>B0 ?> ?5@5>A=0 I5=8N 0@=>- ?>;8:;8=8 G5A:8E CG@5645=89. 0: A>>1I8; AC40@AB2> 2 ?>A;54=85 4?8A0;> 45 AOB:8 :>=B@0:B>2 =0 ?5@5>A=0I5 =85 :;8=8: >1I0O AC<=B@0:B>2 A59G0A 4>AB8305B 1 4 2 @C1;59.
5425452 B0:65 2:@0BF5 :>A =C;AO ?@>1;55:B>20=85 . = A> >1I8;, GB> 2 @03> ?@>5: B0 70 AG5B A@54AB2 D545@0;L=>3> 1N465B0 1C4CB ?>4:;NG5=K : = B5@=5BC 2A5 @>AA89A:85 H:>;K. "5?5@L 3;02=0O 7040G0 A>AB>8B 2 B>1K 2> 2A5E H:>;0E, 2:;N G0O A5;LA:85, 1K;8 70:C?;5=K :>A>1;5==K5 : @01>B5 2 =B5@=5B5 , A>>1I8; <8B@89 5425452. 5H5=853> 2>?@>A0 4>;6=K 70=8=0;L=K5 8 <5AB=K5 2;0 AB8.
5@2K9 28F5- ?@54 G5@:=C;, GB> =0F?@>5:BK ?;0=8 @C5BAO ?>AB>O==> :>@@5:B8@> 20BL, 8, A;54>20B5;L=>, 4>?;0BK 1C45B ?>;CG0BL 2A5 1>;LH55 :>;8 G5AB2> 1N465B=8:>2.
>AA89A:>5 74@02>>E@0=5=85
0: 2K9B8 87 :@878A0
( ><:070B5;8 74>@>2LO @>AA89A:>3> =0A5;5=8O CEC4H0NBAO, A=8605BAO 4>ABC?=>ABL 8 :0G5AB2> 9 ?>I8, A>AB>O=85 MB>9 AD5@K ?5@5@0AB05B 2 A5@L57=CN A>F80;L=CN ?@>1;5;LH5 =5;L7O, ?>@0 =0G8=0BL 459AB2>20BL.
>@>3>5 8 =5:0G5AB25==>5
>AC40@AB25==K5 30@0=B88 2A5>1I59 15A?;0B=>9 9 ?>I8 A53>4=O ?@52@0I0NBAO 2 ?CABK5 45:;0@0F88. ;0B=>ABL <548F8=A:8E CA;C3 =0@0AB05B. 1J54>2 =0A5;5=8O =0 AB02;O5B 4 0 - 4 5 % A>2>:C?=KE 70B@0B =0 IL ( 3>AC40@AB25==KE 8 ;8G=KE) . >;55 5 0 % ?0F85=B>2 ?;0BOB 70 ;5G5=85 2 AB0F8>=0@0E, 3 0 % 70 0@=>- ?>;8:;8=8G5A:CN ?>IL.
0@0AB0=85 ?;0B=>AB8 ?@>8AE>48B =5:>=B@>;8@C5 8 E0>B8G=>. ;0B=K5 CA;C38 G0AB> 70I8, 15A?;0B=>5 >:070=85 :>B>@KE D>@ 30@0=B8@>20=> =0A5;5=8N. =B5@5AK ?0F85=B>2 =5 70I8I5=K: >?;0B0 =5 >7=0G05B 1>;55 2KA>:>3> :0G5AB20. >;L=>9 ?5@5?;0G8205B 70 4>?>;=8B5;L=K5 8 =5 2A5340 =C6=K5 :>=AC;LB0F88 8 ?@>F54C@K: =0?@8B0 C;LB@072C:>2KE 8AA;54>20=89 C =0A A59G0A ?>GB8 2 B@8 @070 2KH5, G5?5.
0;> 2K45;O5<, B@0B8BL =5 C<55 >AB@59H0O =5E20B:0 A@54AB2. > ?>:070B5;N @0AE>4>2 =0 IL =0 4CHC =0A5;5=8O >BAB05B 1>;LH8=AB20 AB@0= &5=B@0;L=>9 8 >AB>G=>9 2@>?K. :0:>< :0G5AB25 6=> 3>2>@8BL, 5A;8 ?5@28G=K9 ?@85;L=>3> 2 ?>;8:;8=8:5 >1;0AB=>3> F5=B@0 >?;0G8205BAO AB@0E>2>9 :><?0=859 2 @07?. , 0 AB>8ABL :>9:>4=O 2 AB0F8>=0@5 $ 1 0 - 1 5 , GB> =865 AB>8AB8 ?@51K20=8O 2 ;N1>9 @09>==>9 3>AB8=8F5. 1J5A@0AE>4>2 =0 74@02>>E@0=5=85 2 2 0 0 4 3>4C A>AB02;O; 2 , 9 % , GB> A>>B25BAB2C5B C@>2=N @072820NI8EAO AB@0= A> A@54=82=5E>40 ( 0@03209 3 % , 5@C 2 , 8 % ) . >, 2 >B;8G85 >B >AA88, 70 MB8 45=L38 3>AC40@AB2> 30@0=B8@C5B B0< A0<K9 <8=8<C< ?5@28G=CN - A0=8B0@=CN ?>IL 8 >15A?5G5=8N - A0=8B0@=>3> 1;03>?>;CG8O. >E@0=5=85 :0: 2 0B8=A:>9 15I0552@>?59A:89 =01>@ CA;C3.
> 4065 MB8 45=L38 8A?>;L7CNBAO =5@0F8>=0;L=>. > 40==K< A59 >@30=870F88 74@02>>E@0=5=8O, >AA8O A8;L=> >BAB05B >B @0728BKE AB@0= B0:8:070B5;O@K 74>@>2LO =0A5;5=8O, @0F8>=0;L=>ABL AB@C:BC@K >:070=8O 9 ?>I8 8 A?>A>1=>ABL A8AB5 @5038@>20BL =0 ?>B@51=>AB8 =0A5;5=8O, A?@0254;82>ABL @0A?@545;5=8O A@54AB2. > 8=48:0B>@0@>2LO =0A5;5=8O >AA8O 70=8<05B 1 2 7 - 5 2 8=B53@0;L=>9 >F5=:5 A8AB5>E@0=5=8O 1 3 0 - 5 . @8 MB> ?>:070B5;N @0AE>4>2 =0 4CHC =0A5;5=8O <K 70=8<05< 7 5 - 5 . >AB @072 3>AC40@AB25==>3> D8=0=A8@>20=8O 74@02>>E@0=5=8O 2 2 0 0 1 - 2 0 0 4 3>40E 2 1 , 8 @070 2 B5:CI8E F5=0E ( A 2 5 5 4 5 4 <;@4 @C1. ) =5 8<5; 28483> @57C;LB0B0.
!B@0E>20O <548F8=0 =5 A0F5;L
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
5AB@C:BC@870F88 =5 ?@>87>H;>. "0:, >:>;> 3 0 % 3>A?8B0;870F89 2 =0H59 AB@0=5, >A>15==> 2 >B45;5=8O B5@0?52B8G5A:>3>, =52@>;>38G5A:>3> 8 38=5:>;>38G5A:>3> ?@>D8;59, =5>1>A=>20==K: 0@=>5 ;5G5=85 1>;L=KE 1K;> 1K 8 @57C;LB0B82=55, 8 45H52;5. !B@0E>2I8:8 EC4>- 154=> =0CG8;8AL ?;0B8BL 70 D0:B8G5A:85 >1J5 >:070;>AL, GB> >=8 =5 E>BOB 8 =5 C20BL ?@54>AB02;5=85 9 ?>I8 4;O 70AB@0E>20==KE.
>76=K5 AB@0B5388 459AB289
>49, D8=0=A>2> A10;0=A8@>20==>9 45@=870F88 >B45;L=K<8 <5@0<8, 2K1@0==K78F89 2C;L30@=>9 M:>=><88, 65B ;8HL CEC4H8BL A;>682HCNAO A8BC0F8N. > 8 >B:;04K20BL 45@=870F8N 40;LH5 =54>?CAB8. >@0 >A>7=0BL 157CA;>2=>ABL 8 157>B;030B5;L=>ABL A;54CNI8E <8=820=89. >- ?5@2KE, 107>20O AB02:0 70@?;0BK ;6=0 1KBL =5 =865 A@54=59 ?> @538>=C, 2@0G0 :0: <8=8<C;B>@0 @070 2KH5, B> 5ABL 2 A@54=5- 2B>@KE, =5>1E>48 AB820=85 MDD5:B82=>9 @01>BK, 0 7=0G8B, 48DD5@5=F80F8O >?;0BK 2 7028A8AB8 >B >1J520B5;L=>, D>=4 >?;0BK 4>;65= ?@52KH0BL AC<2KE AB02>: =5 <5=55 G5;B>@0 @070. - B@5BL8E, =5>1E>48 >15A?5G8BL ?>;=>ABLN 15A?;0B=>5 ;5:0@AB25==>5 >15A?5G5=85 AB0F8>=0@=>3> ;5G5=8O. - G5B25@BKE, =C6=> 701>7@8:8 E>BO 1K 5 0 % 87=>H5==>3> 8 CAB0@52H53> >1>@C4>20=8O, ?@>25AB8 @5=B 740=89. - ?OBKE, =C6=> G5B:> @53;020BL ?;0B=CN IL, GB>1K ?@54>B2@0B8BL 70<5I5=85 15A?;0B=KE CA;C3 ?;0B=K MB>3> 6=> 4>18BLAO, 5A;8 C25;8G8BL 4>;N 3>AD8=0=A8@>20=8O 74@02>>E@0=5=8O A 2 , 9 % 4> 4 - 4 , 5 % 8 4>18BLAO, GB>1K 2K45;O5 AB820;8 ?>2KH5=85 :0G5AB20 8 @57C;LB0B82=>AB8 @01>BK 2. -B> 2?>;=5 >ACI5AB28 2 B5G5=85 ?OB8 ;5B, ?@8G5<=K<8 3;8 1K AB0BL C65 1;8609H85 420- B@8 3>40. 07C5 MH5;>=8@>20=85 2@572>;8B, A >4=>9 AB>@>=K, 4>18BLAO 2?>;=5 >ICB82 2 ?@85<;5:8, A 4@C3>9 ?@54>B2@0B8BL =5MDD5:B82=>ABL 2 8A?>;L7>20=88 4>?>;=8B5;L=KE A@54AB2 8 ?>4?8B:C 8=D;OF88, G5< 3;8 1K 1KBL G@520BK =5?>43>B>2;5==K5 21@>AK 45=53.
!B0BLO ?>43>B>2;5=0 =0 >A=>25 4>:;040 3@C??K M:A?5@B>2 KAH59 H:>;K M:>=>AB025 . . /A8=0, /. . C7L20, . . /:>1A>=0, . . (593>, . . 8H=52A:>3>.
>78B82=K5 ?5@5<5=K 2 A8AB5>E@0=5=8O 5B5@1C@30 704=O
@5AA- A;C610 !0=:B- 5B5@1C@3A:>3> " 48=0O >AA8O"
>AB>O==K9 04@5A 4>:C28BAO B@048F859 ?@>2>48BL A>2;8B8G5A:>3> :;C10 8 > 74@02>>E@0=5=8N 8 M:>;>388 ?@8 >;8BA>25B5 @538>=0;L=>3> >B45;5=8O 0@B88 " 48=0O >AA8O" . C65 2B>@>9 @07 =0 ?>25AB:5 4=O @50;870F8O =0F8>=0;L=>3> ?@>5:B0 " 4>@>2L5" .
2 5 0?@5;O >A=>2=K<8 B5<01AC645=8O AB0;8 E>4 @50;870F88 2 !0=:B- 5B5@1C@35 =0F8>=0;L=>3> ?@>5:B0 ?> 8B>303> :20@B0;0 2 0 0 6 8 2>?@>AK C;CGH5=8O :0G5AB20 45 @50;870F88 C:070==>3> ?@>5:B0.
5; 70A540=85 @54A540B5;L :> 74@02>>E@0=5=8N 8 M:>;>388 ?@8 >;8BA>25B5, 45?CB0B 0:>=>40B5;L=>3> !>1@0=8O !0=:B- 5B5@1C@30 3>@L "8D552. 0 >20;8: 70=>40B5;L=>3> !>1@0=8O !0=:B- 5B5@1C@30 !5@359 =45=:>, 45?CB0B >AC40@AB25==>9 CB D@0:F88 " 48=0O >AA8O" ;5:A0=4@ >@>7>2, 45?CB0BK 0:>=>40B5;L=>3> A>1@0=8O !0=:B- 5B5@1C@30 ;53 !5@3552, "5@5=B89 5I5@O:>2, !25B;0=0 5AB5@>20, ?@54AB028B5;8 @>40.
A>AB>O=88 45; ?> @50;870F88 ?@>5:B0 ?>4@>1=> 4>;>68;8 ?@54A540B5;L > 74@02>>E@0=5=8N @028B5;LAB20 !0=:B- 5B5@1C@30 .@89 )5@1C: 8 C?@02;ONI89 @538>=0;L=KB45;5=85=40 !>F80;L=>3> AB@0E>20=8O $ ?> !0=:B- 5B5@1C@3C N4=0;L=>3> ?@>5:B0 1K;8 @5H5=K >A=>2=K5 >@30=870F8>==K5 2>?@>AK, 2 B>@20=85 8 CB25@645=85 ?;0=0 ?@8OB89, D>@20=85 @01>G8E 3@C?? ?> =0?@02;5=8O5:B0, ?@>2545=85 >1CG0NI8E A52 4;O 2A53> C?@02;5=G5A:>3> ?5@A>=0;0 A8AB5>E@0=5=8O, A>740=85 8 CB25@645=85 A5B52KE 3@0D8:>2 ?;0=0 @50;870F88 ?@>5:B0 2 :064>=>2 3>@>40" , - A>>1I8; .@89 )5@1C:. K;> >B, GB> 2 @05:B0 >E20BK205BAO =5A:>;L:> =0?@02;5=89 A8AB5<K 3> >1A;C6820=8O, 0 =081>;LH0O ?>;>68B5;L=0O 48=0?;0BK B@C40 2@0G59 8 2 G0AB8 B5E=8G5A:>3> >A=0I5=8O ?>;8:;8=8:. " A5 A?5F80;8ABK, 2=5A5==K5 2 >1I89 @55AB@, C65 ?>;CG0NB 45=56=K5 =04102:8, CAB0=>2;5==K5 2 @0=0;L=>3> ?@>5:B0. "0:81@07>B=0O ?;0B0 CG0AB:>2>3> 2@0G0 A>AB02;O5B 1 8 - 2 1 , 5 BKA. @C1;59, 2@0G0 >1I59 ?@0:B8:8 1 8 , 5 - 2 3 BKA. @C1;59, 2>3> 2@0G0 1 0 , 7 - 1 3 , 5 BKA. @C1;59, 1I59 ?@0:B8:8 1 1 , 5 - 1 5 BKA. @C1;59 ( ?@8G53>2KE 2KG5B>2) . @0240 745AL 5ABL ?@>1;5 =0F8>=0;L=>5:BC =5 2E>4OB 2 @0AG5B A@54=59 70@?;0BK 2 ?@8 8E 2@5BACBAB288 =0 @01>B5 ?> ?@8G8=0;57=8 8;8 =0?@02;5=8O =0 >1CG5=85. 0 C@>2=5 D545@0;L=>9 2;0AB8 845B ?>8A: @5H5=8O 40==>3> 2>?@>A0.
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
@>3@0< 8<G5@54L 45B59 >B 0 4> 1 7 ;5B) C65 =0G0;0AL 8 0:B82=> @50;87C5BAO 2 =0H5@>45, 0 ?@>3@0< 48A?0=A5@870F88 @01>B0NI53> =0A5;5=8O =0G=5BAO A 1 8N;O 2 0 0 6 3.
>@>4A:>5 >B45;5=85 $>=40 >1O70B5;L=>3> 3> AB@0E>20=8O B0:65 2545B 1>;LHC H t
, . f " $ ( N b ɼ}kg_MgI*^J h/M h
^J h/M h
5\ H n , . $ $If ` a$gdMB
S$If `SgdMB $S`Sa$gd
0 S`Sgd
$
0 S`Sa$gd
*Q Q " ( T T | z u p k k k k k f f gd gd@J gd@J gd@J $a$gdh | kd $$If l F %( " ( 4 4
l al p b f R T R T | ~ ! ! R# T# $ $ % % % % % % &