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8/9/2019 AC Res Jun 10
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LBWB B}`nwyjfthgGn`ynwh}hnl Tfwfbtgj
Jbc @bthla
Ytnatb` Wghfl}hw}.@blbaft
LBWB Tbmhb}hnl Wghflgfw Ytnatb`
W}vmfl} Bhtdntlf Tfwfbtgj Ytnatb`42 Ovlf 4929
8/9/2019 AC Res Jun 10
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4
W}tvg}vtf ne LBWB
Envt @hwwhnl Mhtfg}ntb}fw?@bllfm WybgfFzycntb}hnlBftnlbv}hgwWghflgf
Envt ]fgjlhgbc Mhuhwhnlw? Bw}tnyjxwhgw Ycblf}btx Wghflgf Jfchnyjxwhgw Fbt}j Wghflgf
8/9/2019 AC Res Jun 10
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7
FWM 0 Echaj} + Byychfm Wghflgf + Tfwfbtgj % Blbcxwhw
8/9/2019 AC Res Jun 10
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=
Gbtdnl Gxgcf blm Fgnwxw}f`w
Dhncnahgbc Ngfblnatbyjx
Gbtdnl % Fgnwxw}f`w
Dhnmhuftwh}x
Cblm Gnuft . Cblm Vwf
Gch`b}f Ubthbdhch}x blm Gjblaf
@nmfchla Blbcxwhw blm Ytfmhg}hnl
Gtxnwyjftfw
Yjxwhgbc Ngfblnatbyjx
Qfb}jft
B}`nwyjfthg Mxlb`hgw
Qb}ft blm Flftax Gxgcf
]fttfw}thbc Jxmtncnax
B}`nwyjfthg Gn`ynwh}hnl
Vyyft B}`nwyjfthg Tfwfbtgj
]tnynwyjfthg Gn`ynwh}hnl
B}`nw Gjf` @nmfchla blm Blbcxwhw
Tbmhb}hnl Wghflgfw
Fbt}j Wvtebgf blm Hl}fthnt
Wnchm Fbt}j
Wvyynt} Ytnatb`wBhtdntlf Wghflgf
Jhaj Yftent`blgf Gn`yv}hla
Mb}b Btgjhuf Wftuhgfw
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Bcc }jf w}vee hl }jf b}`nwyjftf }jb} jbw bl h`ybg} nl jv`bl chufw, ]jf dbwhg abwfw hluncufm dhncnahgbc blm bl}jtnynaflhg ytngfwwfw *N4#
GN4# L4N# GJ=# GEGw# jxmtngbtdnlw# ynccv}bl}w *LN# Nnlf(,
]jf abwfw }jb} btf wfgnlmbtx ytnmvg}w etn` gjf`hw}tx }jb} hluncufw }jfbdnuf abwfw *LN4# NJ# JN4# N7#,,(
Bftnwncw *gnlmflwfm abwfw# mvw}# ntablhg tfbg}bl}w# wfb wbc}# f}g,( Qb}ft hl BCC h}w ent`w *abw# chrvhm# hgf(
]jf b}`nwyjfthg gnlw}h}vfl}w }jb} gnlw}tbhl }jf tbmhb}huf dbcblgfne }jf b}`nwyjftf *h,f, gch`b}f entghla(
Atffljnvwf abwfw *GN4# GJ=# L4N# N7# GEGw# f}g,( Qb}ft hl BCC h}w ent`w Bftnwncw
6
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Tfwfbtgj hw yftent`fm bcnla }jf enccnqhla chlfw? Wb}fcch}f ndwftub}hnlw ne }jf b}`nwyjftf *`vgj `ntf cb}ft( Bhtdntlf ndwftub}hnlw ne }jf b}`nwyjftf *qjb} xnv btf jftf }n cfbtl( N}jft wvdntdh}bc ndwftub}hnlw ne }jf b}`nwyjftf *wnlmf dbccnnlw blm
CBTAF jhaj bc}h}vmf dbccnnlw( Atnvlm dbwfm ndwftub}hnlw ne }jf b}`nwyjftf Mb}b Blbcxwhw blm `nmfchla w}vmhfw vwhla blm.nt }xhla }naf}jftBCC
}jf bdnuf ndwftub}hnlw
Ytnatb``b}hg Anbcw hl Bhtdntlf Tfwfbtgj? Wghflgf Wb}fcch}f Gbchdtb}hnl.Ubchmb}hnl Wflwnt Mfufcny`fl} *bhtdntlf blm wb}fcch}f( ]tbhlhla *YH blm Gb`ybhal.@hwwhnl cfbmftwjhy(
5
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Gnlgfl}tb}fw nl ndwftub}hnlw }jb} bva`fl} }jf wb}fcch}fndwftub}hnlw ne nnlf blm }jf gn`ynwh}hnl ne }jf w}tb}nwyjftf blm
vyyft }tnynwyjftf,
Jhaj bc}h}vmf bhtycblf ndwftub}hnlw ne N7# GEGw# qb}ft ubynt# n}jftwnvtgf abwfw }jb} gbl mfycf}f nnlf# blm }jf tfbg}huf etff tbmhgbcw}jb} mhtfg}cx tfbg} qh}j nnlf,
Jhajft bc}h}vmf cbtaf dbccnnl ndwftub}hnlw `bkhla wh`hcbt`fbwvtf`fl}w,
Atnvlm dbwfm ndwftub}hnlw }jb} ytnuhmf }jf cnla }ft` tfgntmw nennlf# nnlf mfycf}hla wvdw}blgfw# blm tfbg}huf tbmhgbcw,
N}jft ndwftub}hnlw }jb} ubchmb}f }jf wb}fcch}f ndwftub}hnlw etn` }jfBvtb wb}fcch}f,
Cbdntb}ntx w}vmhfw }jb} jfcy }n hl}ftytf} }jf ndwftub}hnlw etn` bcc ne}jf bdnuf,
1
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Qhlmw# Y# ]
Abw gbl wb`ycf
J4N
Nnlf
LN# LNx
GcN# DtN
]-ytnehcf
Gnlmflwb}hnl lvgcfh
Gcnvm ybt}hgcfw
L4N
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Hl 281=# Thgjbtm W}ncbtwkh blm Tbcyj Ghgftnlf# }jfl b}}jf Vlhuftwh}x ne @hgjhabl# wvaafw} }jb} gjcnthlf gnvcm
bcwn gb}bcx}hgbccx mfw}tnx nnlf hl }jf w}tb}nwyjftf, ]jfxjbm dffl w}vmxhla# ent LBWB# }jf ynwwhdcf h`ybg}w ne
wnchm tngkf} ytnyfccbl}w wvgj bw vwfm dx }jf WybgfWjv}}cf,
W}ncbtwkh Ghgftnlf
Gc + N7 -< GcN + N4
GcN + N -< Gc + N4
Lf}? N + N7 -< 4N4
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]tnyhgbc wvtebgf }n w}tb}nwyjftf ytnehcf ne
nnlf-mfycf}hla dtn`hlf wnvtgf abwfw
Etn` LBWB MG-: blm QD-61
]tnyhgbc wvtebgf wnvtgfw newjnt}-chufm ntablhg dtn`hlf
Fcfub}fm cfufcw bdnuf 49 yyd hlvyyft }tnynwyjftf btf b whal ne
gnlufg}huf }tblwynt},
Mfgtfbwhla cfufcw whalhex]tblwynt} }jtnvaj ]tnyhgbc
]tnynybvwf Cbxft *]]C(
8/9/2019 AC Res Jun 10
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FT-4}tbgk
J4N TJ&
Hgf? `a.`7FT4? Gcnvm Yjxwhgw Chmbt *vyyft(
QD61? Hl wh}v mb}b *cnqft(
] *K(
wvyftwb}
N7
QD61
bc}
Hgf
Ytndhla ne b }tnyhgbc wvduhwhdcf ghttvw cbxft
qh}j }qn bhtgtbe} mvthla ]G=
8/9/2019 AC Res Jun 10
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2=
8/9/2019 AC Res Jun 10
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26
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BABAF hw mhw}hlavhwjfmdx h}w gbybdhch}x }n`fbwvtf nuft }jf acndf b}
jhaj etfrvflgx bc`nw} bcc
ne }jf h`ynt}bl} wyfghfwhl }jf @nl}tfbc Ytn}ngnc}n ytn}fg} }jf nnlf cbxftblm bc`nw} bcc ne }jf
whalhehgbl} lnl-GN4 abwfwhl }jf Kxn}n Ytn}ngnc }n`h}hab}f gch`b}f gjblaf,
]jf BABAF# blm h}w ytfmfgfwwntw *}jf B}`nwyjfthg Chef}h`f Fzyfth`fl}# BCF#
blm }jf Acndbc B}`nwyjfthg Abwfw Fzyfth`fl}# ABAF( jbuf dffl `fbwvthla }jfgn`ynwh}hnl ne }jf acndbc b}`nwyjftf gnl}hlvnvwcx whlgf 281:,
WNAF? Wxw}f` ent Ndwftub}hnl ne Jbcnaflb}fmAtffljnvwf Abwfw hl FvtnyfLHFW? Lb}hnlbc Hlw}h}v}f ent Fluhtnl`fl}bc W}vmhfw# ObyblWLV? Wfnvc Lb}hnlbc Vlhuftwh}x# Kntfb,BABAF QFD WH]F b} j}}y?..babaf,fbw,ab}fgj,fmv
]jf BCF.ABAF.BABAF w}b}hnlw nggvyxgnbw}bc % `nvl}bhl wh}fw btnvlm }jf qntcmgjnwfl }n ytnuhmf bggvtb}f `fbwvtf`fl}w
ne }tbgf abwfw qjnwf chef}h`fw btf cnlagn`ybtfm }n acndbc b}`nwyjfthg ghtgvcb}hnl}h`fw,
Bmublgfm Acndbc B}`nwyjfthg Abw Fzyfth`fl}
blm Beehchb}fm Lf}qntk
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]tnynwyjfthg Ntablhg Gjcnthlf
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Lf}qntk ent }jf Mf}fg}hnl ne
B}`nwyjfthg Gn`ynwh}hnl Gjblaf
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Wb}fcch}f @fbwvtf`fl}w?JBCNF mfthufm Gc, ]jf wnchmdcbgk chlf hw }jf VLFY dbwfchlf
wgflbthn cbaafm 6,7 xfbtw,
Atnvlm-dbwfm Tf`n}f Wflwhla?Ovlaetbvongj W}b}hnl Gc mfthufmetn` }jf wv``b}hnl ne gncv`l
JGc# GcNLN4# blm `nmfcfmdbgkatnvlm GcN,
Atnvlm-dbwfm Hl Wh}v?BABAF mb}b
Tvwwfcc blm Blmftwnl# 4996
Gc ]h`f Wfthfw ent 66 k`# Gncv`l blm Wvtebgf
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Wghfl}hehg Engh?
Bftnwncw; ny}hgbc ytnyft}hfw*`hgtnyjxwhgbc blm gjf`hw}tx(# wnvtgfw#
}tblwynt}# whlkw# mhw}thdv}hnl
Gcnvmw; ny}hgbc ytnyft}hfw *ghttvw ybt}hgcfwjbyf(# mhw}thdv}hnl# gcnvm `f}fntncnax
Bftnwnc Gcnvm Hl}ftbg}hnlw; bftnwnch`ybg} nl gcnvmw blm gcnvm ytnyft}hfw
Tbmhb}huf ]tblweft; f`yjbwhf 7M T] bwh} tfcb}fw }n }jf feefg} ne gcnvmw nl
tbmhb}huf ecvz blm tf`n}f wflwhla
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Ytnofg}w }xyhgbccx evlmfm hl TWY? Blbcxwhw blm `nmfchla ne wb}fcch}f tf`n}f wflwhla blm
n}jft mb}b *f,a,# @NMHW# @HWT# N@H# GBCHYWN#GcnvmWB]# Acntx# (
Lf}qntk `fbwvtf`fl}w ne tbmhb}hnl# bftnwncw blmgcnvmw ent wghfl}hehg hlufw}hab}hnlw blm wb}fcch}fgbchdtb}hnl blm ubchmb}hnl
Ehfcm gb`ybhalw }n `fbwvtf bftnwncw# gcnvmw blmtbmhb}hnl *f,a,# ]G-=# BTG]BW# @BGYFZ# (
Cbdntb}ntx w}vmhfw }n tfehlf vlmftw}blmhla ne bftnwncblm gcnvm ytnyft}hfw blm }jf ytngfwwfw gnl}tncchla}jf`
TWY evlmfm }bwkw
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Ynwwhdcf gnl}thdv}ntw?
@ntf.cbtaft bftnwnc *f,a,# wqfcchla(Vlmf}fg}fm gcnvm ybt}hgcfwHlw}tv`fl} ch`h}b}hnlw7M tbmhb}huf ytngfwwfw
Lffm }n vlmftw}blm }jf hlgtfbwf ent?b gnttfg} hl}ftytf}b}hnl ne ndwftub}hnlwh`ytnuhla nvt klnqcfmaf ne bftnwnc-gcnvmhl}ftbg}hnlw; qjhgj btf b whalhehgbl} ybt} ne}jf cbtafw} vlgft}bhl}x hl gch`b}f `nmfcw
Ndwftub}hnlw?
Gcfbt-wkx tfecfg}blgf wxw}f`b}hgbccxhlgtfbwfw lfbt gcnvmw
7M fljblgf`fl}
8/9/2019 AC Res Jun 10
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BFTNLF]-Bl Hl}ftlb}hnlbccx Efmftb}fm Lf}qntk
Bftnwnc Ny}hgbc Ytnyft}hfw Tfwfbtgj % Flbdchla Ytnofg} Ytnatb` ne cnla }ft` wxw}f`b}hg lf}qntk `fbwvtf`fl}w Jn`fybaf bggfww j}}y?..bftnlf},aweg,lbwb,anu.
@hwwhnl Ndofg}hufw Ubchmb}hnl ne wb}fcch}f bftnwnc tf}thfubcw Gjbtbg}fthb}hnl ne bftnwnc ny}hgbc ytnyft}hfw Wxlftahw` qh}j wb}fcch}f ndwftub}hnlw blm gch`b}f `nmfcw
8/9/2019 AC Res Jun 10
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]jf Mxlb`hg B}`nwyjftf?
BFTNLF]-Mfehlhla Bftnwnc Ny}hgbc Ytnyft}hfw
8/9/2019 AC Res Jun 10
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W}b}vw?24 bg}huf wh}fw
5 ycbllfm wh}fw *hl ytfybtb}hnl(
5 ytnynwfm wh}fw *evlmhla mfyflmfl}(24 wjnt}-}ft` ehfcm gb`ybhalw
2 ngfbl gtvhwf *}qn gtvhwfw ytf-mb}hla @YCLF] btf bubhcbdcf(
Bggn`ychwj`fl}w?@YCLF] jbw aflftb}fm blm gnl}thdv}fm }n nuft 79 yfft tfuhfqfm
yvdchgb}hnlw whlgf 4999,
Ubchmb}hnl % bcanth}j` mfufcny`fl} ent HGFWb} % ]N@W, GBCHYWN yflmhla,Gnnyftb}hnl qh}j BFTNLF]# `nmfchla# blm wb}fcch}f atnvyw cfm }nent`vcb}hnl ne lfq Wxlftax ]nnc *nlchlf bftnwnc mb}bdbwf(
Anmmbtm }fb` + 27 Ybt}lftw gn`ynwf @YCLF]?LBWB CbTGLNBB FWTC
Lbubc Tfwfbtgj Cbd - @nl}ftfx
Obyblw Lb}hnlbc Hlw}h}v}f ne Yncbt TfwfbtgjWybhlw Hlw}h}v}n Lbghnlbc mf ]glhgb Bftnfwybghbc - HL]B
= VW Vlhuftwh}hfw4 Kntfbl Vlhuftwh}hfw
2 ]bhqbl Vlhuftwh}x
2 Gjhlfwf Vlhuftwh}x n}jft ybt}lftw yflmhla
Ndofg}huf? Cnla-}ft`# cngbc - tfahnlbc - qntcmqhmf bftnwnc blm gcnvm ytnehcf
ndwftub}hnlw vwhla gn``nl hlw}tv`fl} % mb}b ytngfwwhla hl b efmftb}fm lf}qntk
bg}huf wh}fwflfcm gb`ybhalwycbllfm wh}fwytnynwfm wh}fw
ent`ft gb`ybhal# yft`blfl} wh}f ycbllfment`ft gb`ybhal# yft`blfl} wh}f ytnynwfm
/ @nw} wh}fw btf gn-cngb}fm qh}j BFTNLF]
/ Gb`ybhalw v}hchf W@BT]-GN@@H] blm.nt
@BBTGN ycb}ent`w
/ chlf mfln}fw tfwfbtgj gtvhwf
j}}y?..`yclf},aweg,lbwb,anu
@hgtnYvcwf Chmbt Lf}qntk
8/9/2019 AC Res Jun 10
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Ndwftub}hnlw ne Wbjbtbl Mvw} ]tblwynt}Tfhm f} bc,# OAT# 4997? Yvft}n Thgn Mvw} Fzyfth`fl} *YTHMF( hl 4999
Yhlk mn}w hlmhgb}f @bthlf Dnvlmbtx Cbxft jfhaj}w etn` lfbtdx tbmhnwnlmf
Bftnwnc % Gcnvm Fz}hlg}hnl Ytnehcfw k`-2
@YCLF] Cfufc 7 Mb}bGbdtbw Hwcblm Wh}f
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Etn`?T,Kbjlf}bc,OAT4991
2
4
7
=
6
9,9 9,5 2,4 9,9 2,4 4,= 9 6999 29#9992
4
7
=
6
@HWT lbmht uhfqNtfanl qhcmfltf Wfy} 9= 4997 W`nkf % dkam bftnwnc b`nvl} |Ybt}hgcf Whzf W`nkf Ycv`f Jfhaj}
9
4
=
5
:
29
9 4 = 5 : 29
B}`nwyjfthg W}bdhch}x
Jfhaj}*k`(
Y 2-4
Y =-6
, , ^
9 69 299
9,6
2,6
4,6
7,6
=,6
6,6
5,6
1,6
:,6
8,6
Jfhaj}*k`(
Lv`dft ne Yhzfcw
Y2, , ^
9 299 499
9,6
2,6
4,6
7,6
=,6
6,6
5,6
1,6
:,6
8,6
Jfhaj}*k`(
Lv`dft ne Yhzfcw
Y4, , ^
9 69 299
9,6
2,6
4,6
7,6
=,6
6,6
5,6
1,6
:,6
8,6
Jfhaj}*k`(
Lv`dft ne Yhzfcw
Y7, , ^
9 69 299
9,6
2,6
4,6
7,6
=,6
6,6
5,6
1,6
:,6
8,6
Jfhaj}*k`(
Lv`dft ne Yhzfcw
Y=, , ^
9 49 =9 59
9,6
2,6
4,6
7,6
=,6
6,6
5,6
1,6
:,6
8,6
Jfhaj}*k`(
Lv`dft ne Yhzfcw
Y6
@HWT W}ftfn-Mfthufm W`nkf Ycv`f Jfhaj} jhw}natb`w ent fluf yb}gjfw# ycvw nmfc-mfthufm b}`nwyjfthg w}bdhch}x ytnflcf
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Mfwft}
mvw}
Dhn`bww
w`nkfGhttvw
65,12
74,25
=1,:6
4:,61
78,84
46,1:
72,8=
47,=5
47,87
42,=4
26,89
28,66
1,:2
21,11
-9,47
25,96
-:,4:
2=,47
-25,72
24,65
-4=,77
29,58
-74,74
:,5=
-=9,41
5,79
Bc}h}vmf#
k`
Bc}h}vmf#
k`
Bc}h}vmf#
k`
Ehtf cngb}hnlw hl wnv}jftlBethgb etn` @NMHW
29 Ovlf 4995
8 Ovlf 4995
8/9/2019 AC Res Jun 10
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Rvbl}h}b}hufcx gbcgvcb}f hl}ftgnl}hlfl}bc }tblwynt} ne mvw} *Kbve`bl f} bc,#4996( nt ynccv}hnl *Xv f} bc, hl ytfybtb}hnl(
Ndwftub}hnlbccx-dbwfm fw}h`b}f ne bftnwnc mhtfg} tbmhb}huf feefg} *Tf`ft blmKbve`bl# 4995; Xv f} bc,# 4995; Dfccnvhl f} bc,4996; Gjvla f} bc,# 4996(
Ndwftub}hnlbccx-dbwfm fw}h`b}f ne ngfblhg bftnwnc bl}jtnynaflhg gn`ynlfl}nt mhtfg} entghla *Kbve`bl f} bc, 4995(
]nnc ent nyftb}hnlbc bht rvbch}x entfgbw}w *Bc Wbbmh f} bc, 4996(
@NMHW Bftnwnc Ytnmvg}w Uhfq }jf Acndbc Bftnwnc Wxw}f` hl bl
Fl}htfcx Lfq Qbx
8/9/2019 AC Res Jun 10
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BYW Ytnuhmfw?
Mf}ft`hlb}hnl ne }jf acndbc mhw}thdv}hnl ne lb}vtbc blmbl}jtnynaflhg bftnwncw blm gcnvmw qh}j bggvtbgx blm
gnuftbaf wveehghfl} ent whalhehgbl}cx h`ytnufm rvbl}hehgb}hnl nemhtfg} blm hlmhtfg} bftnwnc gch`b}f feefg}w?
Vlgft}bhl}x hl }jf feefg} ne bftnwncw nl acndbc qbt`hla bggnvl}w ent tnvajcx =9 yftgfl}ne }jf vlgft}bhl}x hl }jf tbmhb}huf entghla evlg}hnl,
Tf}thfubc ne bftnwnc ybt}hgcf hgtnyjxwhgbc ytnyft}hfw dx hluft}hla vc}h-blacf blm `vc}h-wyfg}tbc tbmhblgf blm yncbthb}hnl fbwvtf`fl}w qhcc whalhehgbl}cx fz}flm }jf hlent`b}hnlgnl}fl} gnlgftlhla bftnwncw etn` vc}h-wyfg}tbc hlw}tv`fl}w wvgj bw @NMHW blm @HWT,
]H@ Ytnuhmfw?
Gnl}hlvfm `fbwvtf`fl} ne }jf ]n}bc Wncbt Httbmhblgf }n mf}ft`hlf}jf Wvlw mhtfg} blm hlmhtfg} feefg} nl }jf Fbt}jw gch`b}f,
]n}bc Wncbt Httbmhblgf qh}j ytfghwhnl ne 29 yy` blm bggvtbgx ne 299 yy` btf lffmfm }nvlmftw}blm }jf tncf ne }jf wvl hl gch`b}f gjblaf blm }n vlmftw}blm }jf bw}tnyjxwhgw ne }jflfbtfw} w}bt }n }jf Fbt}j,
Vlmftw}blmhla gch`b}f ubthbdhch}x blm gjblaf tfrvhtfw `fbwvthla?
Bftnwnc Ytnyft}hfw - ny}hgbc }jhgklfww *.4(# whf *fzychgh}(#wjbyf *lfq(# blm tfetbg}huf hlmfz *lfq(
]n}bc Wncbt Httbmhblgf
8/9/2019 AC Res Jun 10
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Acntx Qhcc Hlgtfbwf Nvt Vlmftw}blmhla ne
}jf Fbt}jw Flftax Dvmaf}
qbt`hla
gnnchla
Feefg}huf gch`b}f entghlaw *Q.`4( *2::94997(
Jblwfl f} bc,# Wghflgf
79:# 2=722=76 *4996(
Nuftcby ne ]H@ @fbwvtf`fl}w
Flbdcfw Cnla-}ft` Tfgntm
Mhtfg}.Hlmhtfg} Bftnwnc Feefg}w
Btf Cbtaf blm Vlgft}bhl
8/9/2019 AC Res Jun 10
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BlbcxwhwneBTG]BW`fbwvtf`fl}whwwjnqhla}jb}ntablhggbtdnlgnl}thdv}fwwhalhflgbl}cx}n}jfGGLbg0uh}xneetfwjdhn`bwwdvtlhlaycv`fwblm}jb}rvbl0exhla}jfqb}ftwncvdcf*ntablhg.
hlntablhg(gbtdnletbg0nlhwevlmb`fl}bc}nh`ytnufmytfmhg0nlneGGL,
Wvgjh`ytnuf`fl}hlGGLgcnwvtf}jfntxhwgth0gbc}ntfmvghlavlgft}bhl}xhlytfmhg0nlnebftnwnc
hlmhtfg}ffg}wnlgch`b}f#ybt0gvcbtcxahuflfzyfg}fmgjblafwhldhn`bwwdvtlhla,
Gnl}bg}?B}jblbwhnw*]jblnw(Lflfw#lflfwIfbw,ab}fgj,fmv
BTG]BW`fbwvtf`fl}wflbdcfh`ytnufmytfmhgMnlneGcnvm
GnlmflwbMnlLvgcfh*GGL(hldhn`bwwdvtlhlaw`nkfycv`fw
29Zvlmftytfmhg6nlneGGLhlmhgb}fwcbtaf
etbg6nlnentablhgwbtfqb}ftwncvdcf
Dfentf?
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7=
B}`nwyjfthg Gjf`hw}tx @nmfchla blm Blbcxwhw Ytnatb`
@nmfchla w}vmhfw vwhla LBWB wb}fcch}f mb}b, @nmfchla blm blbcxwhw ne LBWB atnvlm# bhtdntlf# blm dbccnnl
mb}b wf}w,
@nmfc mfufcny`fl} }n h`ytnuf b}`nwyjftf blm gch`b}f gjblafytfmhg}hnl,
Bcc ne }jfwf w}vmhfw btf }n bmublgf }jf klnqcfmaf ne }jfevlmb`fl}bc ytngfwwfw ne }jf b}`nwyjftf blm h}w hl}ftbg}hnl
qh}j }jf tfw} ne }jf Fbt}j Gch`b}f wxw}f`,
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MV
MV
O E @ B @ O O B W N L M
N@H - @CW
4996 A@H
O E @ B @ O O B W N L M
89
5979
9-79
-59
-89
89
5979
9-79
-59
-89
Cb}h}vmf
16
9
16
9
MV
MV
8/9/2019 AC Res Jun 10
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Bl}btg}hg nnlf mfycf}hnl *}jfnnlf jncf( hw gbvwfm dxjv`bl-ytnmvgfm gjcnthlf blmdtn`hlf abwfw, Hl}ftlb}hnlbctfavcb}hnl ne }jfwf abwfw wjnvcmcfbm }n nnlf tfgnuftx,
B ybtb`f}thg `nmfc ne }jf nnlfjncf btfb jbw dffl mfufcnyfmdbwfm nl wb}fcch}f# atnvlm# blmbhtgtbe} ndwftub}hnlw ne nnlfblm gjcnthlf blm dtn`hlfwyfghfw,
]jhw `nmfc wvaafw}w }jb} }jfnnlf jncf btfb qhcc dfahl }nmfgtfbwf hl 4947 blm qhcc df evccxtfgnuftfm }n 28:9w cfufcw dx4919,
Tfgfl} nggvttflgfw neybt}hgvcbtcx w`bcc *4994( nt cbtaf*4995( nnlf jncfw btf ln}
hlmhgb}huf ne b cnla-}ft` }tflm,
Wfy, 4995
Wfy, 4994
229
779
669
8/9/2019 AC Res Jun 10
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7171
Tfgfl} cbdntb}ntx `fbwvtf`fl}w jbuf tbhwfm rvfw}hnlw bdnv} nlf ne }jf gtvghbc w}fywhl }jf gjcnthlf-gb}bcxfm cnww ne nnlf hl }jf yncbt w}tb}nwyjftf *lfq Ynyf f} bc,`fbwvtfm GcN mh`ft yjn}ncxwhw gtnww wfg}hnlw(
Qjfl }jf lfqcx-`fbwvtfm ubcvfw btf vwfm gjf`hw}tx }tblwynt} `nmfcw# bdvlmblgfwne tfbg}huf gjcnthlf *GcN( blm mfycf}hnl ne nnlf btf wfuftfcx vlmftfw}h`b}fm
gn`ybtfm }n ndwftub}hnlw dx @CW
Wh`vcb}fm gjcnthlfmfbg}hub}hnl hw
mfcbxfm# qh}j `nmfcfm
JGc `vgj cnqft }jbl
ndwftufm b} }jf flm ne
qhl}ft
@CW mb}b btf b kfxndwftub}hnl
gn`ynlfl} ne WYBTGhlh}hb}huf nl yncbt
nnlf cnww
[Wbl}ff f} bc,# 499:# OATP
8/9/2019 AC Res Jun 10
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7:
JHTMCW# W}fuf @bwwhf LGBT
Bythc 4991
gcnvm nggvttflgf
Lnt}jftl Qhl}ft 4995
gcnvm fz}hlg}hnl
]jhl gcnvmw btf mheehgvc} }n mf}fg} etn` wybgf, ]jf ehtw}gn`ytfjflwhuf gch`b}ncnax ne }jhl gcnvmw jbw dffl
mfufcnyfm qh}j }jf JHTMCW ch`d uhfqhla HT tbmhn`f}ft,]tnyhgbc }jhl ghttvw btf h`ynt}bl} hl gnl}tncchla gch`b}fgjblaf blm qb}ft ubynt hl }jf }jf w}tb}nwyjftf,
Yncbt W}tb}nwyjfthg Gcnvmw *YWGw( btf kfx ycbxftw hlwythla yncbt nnlf mfycf}hnl,
Gn`ybthwnlw qh}j @CW tfcb}huf jv`hmh}x *TJH( blmGBCHYWN dbgkwgb}}ft wjnq annm batff`fl},
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Gn`dhlhlaN@Hblm@NMHWbccnqwent?
dfftfw0`b}fwnebftnwncjfhaj}dfftfw0`b}fwnebftnwncbdwnty0nl
bdhch}x}ngjbtbg}fthfbftnwncbdwnty0nl
9,84
9,:59,:8
]jfgn`dhlb0nlneN@H.@NMHWmb}bflbdcfw
}jfmf}ft`hlb0nlnewhlacfwgbfthlabcdfmn
b}7::l`nuft7mvw}tfahnlwmvthlaObl
4995qh}jcfwwgft}bhl}x}jbldfentf
gn`dhlhlawflwntw
Wb}jffwjf}bc,#*4998(OAT
Gn`dhlhla Mb}b
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Bftnwnc ny}hgbc mfy}j
Gcnvmetbg}hnl
Bcc mb}b
Kntflf}bc,*499:(Wghflgf
B}cnqBNM#hlgtfbwhlabftnwnc
hlgtfbwfwgcnvmetbg0nluhbb
`hgtnyjxwhgbcyb}jqbx
B}jhajBNM#hlgtfbwhlabftnwnc
mfgtfbwfwgcnvmetbg0nluhbb
tbmhb6ufyb}jqbx,
Mbuhmhf}bc,#*BGY(
@NMHWBNM
BHTW]f`yftb}vtf
:69`d
846`d
2999`d
Gn`dhlhla@NMHWbftnwncblmgcnvmmb}bqh}jBHTW}f`yftb}vtfytnflcfwcfbmw}nbwf`h
rvbl0}b0ufvlmftw}blmhlanebftnwncgcnvmhl}ftbg0nlw
Hlvyyftdnvlmbtxcbxft*:69`d(
hlgtfbwhlabftnwnchlgtfbwfw}f`y
*bdwnty0nl(
B}wvtebgf*2999`d(hlgtfbwhlabftnwnc
mfgtfbwfw}f`yftb}vtf*`nw}cxetn`
hlgtfbwhlagcnvmhlfww}jtnvaj
`hgtnyjxwhgbcyb}jqbx,(
99,29,49,79,=9,69,5
BNM9,4
199`d
Ln}f}vtlhlaynhl}b}BNM9,4
8/9/2019 AC Res Jun 10
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=2
@nmfcw blm Mb}b
8/9/2019 AC Res Jun 10
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=4
]jf Ev}vtf
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=7Ohbla f} bc,# ATC# 4991 Ohbla f} bc,# ATC# 499:
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==
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