Allegion

-12.56%

Live  

Allegion is a global security products and solutions company that specializes in door and access control products. The company was founded in 2013, when it separated from its former parent company, Ingersoll Rand. Allegion’s headquarters are located in Dublin, Ireland, and it operates in over 130 countries worldwide.
The company’s mission is to provide customers with safety and security through innovative products and solutions. They offer a wide range of products including mechanical and electronic locks, door closers, exit devices, and access control systems. They also offer a variety of services such as installation, maintenance, and consulting.
Allegion has a strong focus on developing sustainable and environmentally responsible products. They have implemented sustainability practices in their manufacturing processes and use recyclable materials in their products.
The company has a diverse portfolio of brands, including Schlage, Von Duprin, LCN, and Ives, that cater to both commercial and residential markets. They serve a variety of industries, including healthcare, education, government, and hospitality.
Allegion is committed to providing excellent customer service and has a global network of distributors and partners to assist with product availability and support. They also offer training and educational resources for customers and professionals in the industry.
Overall, Allegion is a leading company in the security industry with a strong focus on innovation, sustainability, and customer satisfaction.

Allegion is a company that makes things to keep buildings and people safe. Imagine when you go into your house, you use a key or push a button to lock the door. Allegion makes locks, doors, and other security products that help keep homes, schools, offices, and even hotels safe.
They make money by selling these locks and security systems to people and businesses. For example, when a new school is built, they sell locks and security measures to make sure students are secure when they are inside. They also help people who want to upgrade their old locks to newer, more high-tech ones.
Allegion is successful for a few reasons. First, they have a long history of making good, reliable products that people trust. Second, they keep coming up with new ideas and technology, like smart locks that you can control with your phone. Finally, as safety and security become more important everywhere, more people and businesses will need their products.
In the future, Allegion is likely to stay successful because as technology advances, they can keep improving their products. They also operate in many countries, so they have lots of customers. And because everyone wants to feel safe in their homes and workplaces, more people will need what they make!

MS4gR2xvYm FsIExlYWRl ciBpbiBTZW N1cml0eSBT b2x1dGlvbn M6IEFsbGVn aW9uIGlzIG 9uZSBvZiB0 aGUgbGVhZG luZyBwcm92 aWRlcnMgb2 Ygc2VjdXJp dHkgYW5kIH NhZmV0eSBw cm9kdWN0cy BnbG9iYWxs eS4gV2l0aC BhIHByZXNl bmNlIGluIG 1vcmUgdGhh biAxMzAgY2 91bnRyaWVz LCB0aGUgY2 9tcGFueSBp cyBkZWRpY2 F0ZWQgdG8g a2VlcGluZy BwZW9wbGUg c2FmZSBhbm Qgc2VjdXJl IHRocm91Z2 ggaXRzIGlu bm92YXRpdm UgcHJvZHVj dHMgYW5kIH NvbHV0aW9u cy48YnI+Mi 4gRGl2ZXJz ZSBQb3J0Zm 9saW8gb2Yg QnJhbmRzOi BBbGxlZ2lv buKAmXMgcG 9ydGZvbGlv IGluY2x1ZG VzIHdlbGwt a25vd24gYn JhbmRzIGxp a2UgU2NobG FnZSwgTENO LCBDSVNBLC BhbmQgVm9u IER1cHJpbi 4gVGhlc2Ug YnJhbmRzIG 9mZmVyIGEg d2lkZSByYW 5nZSBvZiBw cm9kdWN0cy wgaW5jbHVk aW5nIGRvb3 IgbG9ja3Ms IGV4aXQgZG V2aWNlcywg YWNjZXNzIG NvbnRyb2wg c3lzdGVtcy wgYW5kIGVs ZWN0cm9uaW Mgc2VjdXJp dHkgc29sdX Rpb25zLCBj YXRlcmluZy B0byB0aGUg bmVlZHMgb2 YgdmFyaW91 cyBpbmR1c3 RyaWVzLjxi cj4zLiBJbm 5vdmF0aXZl IFRlY2hub2 xvZ3k6IFRo ZSBjb21wYW 55IGlzIGNv bW1pdHRlZC B0byBwcm92 aWRpbmcgaW 5ub3ZhdGl2 ZSBzb2x1dG lvbnMgdG8g aXRzIGN1c3 RvbWVycy4g V2l0aCBhIG ZvY3VzIG9u IHJlc2Vhcm NoIGFuZCBk ZXZlbG9wbW VudCwgQWxs ZWdpb24gY2 9uc2lzdGVu dGx5IGludH JvZHVjZXMg bmV3IGFuZC BhZHZhbmNl ZCBwcm9kdW N0cyB0aGF0 IG1lZXQgdG hlIGV2b2x2 aW5nIHNlY3 VyaXR5IG5l ZWRzIG9mIG l0cyBjbGll bnRzLjxicj 40LiBDdXN0 b21lci1DZW 50cmljIEFw cHJvYWNoOi BUaGUgY29t cGFueSBiZW xpZXZlcyBp biBwdXR0aW 5nIGl0cyBj dXN0b21lcn MgZmlyc3Qg YW5kIHVuZG Vyc3RhbmRz IHRoZWlyIH VuaXF1ZSBz ZWN1cml0eS ByZXF1aXJl bWVudHMuIE l0IG9mZmVy cyBwZXJzb2 5hbGl6ZWQg c29sdXRpb2 5zIGFuZCBl eGNlbGxlbn QgY3VzdG9t ZXIgc2Vydm ljZSB0byBl bnN1cmUgY3 VzdG9tZXIg c2F0aXNmYW N0aW9uLjxi cj41LiBTdX N0YWluYWJp bGl0eSBhbm QgU29jaWFs IFJlc3Bvbn NpYmlsaXR5 OiBBbGxlZ2 lvbiBpcyBj b21taXR0ZW QgdG8gc3Vz dGFpbmFiaW xpdHkgYW5k IHJlc3Bvbn NpYmxlIGJ1 c2luZXNzIH ByYWN0aWNl cy4gSXQgaG FzIHNldCBh bWJpdGlvdX Mgc3VzdGFp bmFiaWxpdH kgZ29hbHMs IGluY2x1ZG luZyByZWR1 Y2luZyBpdH MgZW52aXJv bm1lbnRhbC BpbXBhY3Qg YW5kIHByb2 1vdGluZyBk aXZlcnNpdH kgYW5kIGlu Y2x1c2lvbi B3aXRoaW4g aXRzIHdvcm tmb3JjZS48 YnI+Ni4gU3 Ryb25nIFBh cnRuZXJzaG lwczogQWxs ZWdpb24gaG FzIGZvcm1l ZCBzdHJvbm cgcGFydG5l cnNoaXBzIH dpdGggb3Ro ZXIgbGVhZG luZyBjb21w YW5pZXMgYW 5kIG9yZ2Fu aXphdGlvbn MgaW4gdGhl IHNlY3VyaX R5IGluZHVz dHJ5LCBhbG xvd2luZyBp dCB0byBvZm ZlciBjb21w cmVoZW5zaX ZlIHNvbHV0 aW9ucyBhbm QgZXhwYW5k IGl0cyByZW FjaC48YnI+ Ny4gRm9jdX Mgb24gSW5u b3ZhdGlvbi BhbmQgR3Jv d3RoOiBUaG UgY29tcGFu eSBoYXMgYS BjdWx0dXJl IG9mIGlubm 92YXRpb24g YW5kIGdyb3 d0aCwgY29u c3RhbnRseS BzZWVraW5n IG5ldyBvcH BvcnR1bml0 aWVzIGFuZC BhZGFwdGlu ZyB0byBjaG FuZ2luZyBt YXJrZXQgY2 9uZGl0aW9u cy4gSXQgbW FrZXMgc3Ry YXRlZ2ljIG ludmVzdG1l bnRzIGluIH RlY2hub2xv Z3ksIHBlb3 BsZSwgYW5k IGJ1c2luZX NzZXMgdG8g c3RheSBhaG VhZCBvZiB0 aGUgY3Vydm UgYW5kIG1h aW50YWluIG l0cyBsZWFk ZXJzaGlwIH Bvc2l0aW9u Ljxicj44Li BTdHJvbmcg RmluYW5jaW FsIFBlcmZv cm1hbmNlOi BBbGxlZ2lv biBoYXMgY2 9uc2lzdGVu dGx5IHJlY2 9yZGVkIHN0 cm9uZyBmaW 5hbmNpYWwg cGVyZm9ybW FuY2UsIHdp dGggc3RlYW R5IHJldmVu dWUgZ3Jvd3 RoIGFuZCBw cm9maXRhYm lsaXR5LiBU aGlzIHN0YW JpbGl0eSBh bmQgZmluYW 5jaWFsIHN0 cmVuZ3RoIG dpdmUgY3Vz dG9tZXJzIG FuZCBpbnZl c3RvcnMgY2 9uZmlkZW5j ZSBpbiB0aG UgY29tcGFu eS48YnI+OS 4gQ29tbWl0 bWVudCB0by BFbXBsb3ll ZSBEZXZlbG 9wbWVudDog QWxsZWdpb2 4gcHJpb3Jp dGl6ZXMgZW 1wbG95ZWUg ZGV2ZWxvcG 1lbnQgYW5k IGludmVzdH MgaW4gaXRz IHdvcmtmb3 JjZS4gSXQg b2ZmZXJzIH RyYWluaW5n IGFuZCBkZX ZlbG9wbWVu dCBwcm9ncm FtcywgY2Fy ZWVyIGFkdm FuY2VtZW50 IG9wcG9ydH VuaXRpZXMs IGFuZCBhIG RpdmVyc2Ug YW5kIGluY2 x1c2l2ZSB3 b3JrIGVudm lyb25tZW50 Ljxicj4xMC 4gQXdhcmQt V2lubmluZy BDb21wYW55 OiBBbGxlZ2 lvbiBoYXMg cmVjZWl2ZW QgbnVtZXJv dXMgYXdhcm RzIGFuZCBy ZWNvZ25pdG lvbiBmb3Ig aXRzIHByb2 R1Y3RzLCBz ZXJ2aWNlcy wgYW5kIGJ1 c2luZXNzIH ByYWN0aWNl cy4gVGhlc2 UgYWNjb2xh ZGVzIHNob3 djYXNlIHRo ZSBjb21wYW 554oCZcyBj b21taXRtZW 50IHRvIGV4 Y2VsbGVuY2 UgYW5kIGhp Z2hsaWdodC BpdHMgaW5k dXN0cnktbG VhZGluZyBw b3NpdGlvbi 4=

VGhlIEFsbG VnaW9uIGNv bXBhbnkgaX MgYSBnbG9i YWwgcHJvdm lkZXIgb2Yg c2VjdXJpdH kgcHJvZHVj dHMgYW5kIH NvbHV0aW9u cyBmb3IgaG 9tZXMgYW5k IGJ1c2luZX NzZXMuIFRo ZSBjb21wYW 554oCZcyBi dXNpbmVzcy Btb2RlbCBj ZW50ZXJzIG 9uIG1hbnVm YWN0dXJpbm cgYW5kIHNl bGxpbmcgYS BkaXZlcnNl IHJhbmdlIG 9mIHNlY3Vy aXR5IGFuZC BzYWZldHkg cHJvZHVjdH MsIGluY2x1 ZGluZyBsb2 Nrcywga2V5 cywgYWNjZX NzIGNvbnRy b2wgc3lzdG VtcywgZG9v ciBjbG9zZX JzLCBleGl0 IGRldmljZX MsIGFuZCBt b3JlLiBBbG xlZ2lvbiBh bHNvIG9mZm VycyBzZXJ2 aWNlcyBzdW NoIGFzIGlu c3RhbGxhdG lvbiwgcmVw YWlyLCBhbm QgbWFpbnRl bmFuY2Ugb2 YgdGhlaXIg cHJvZHVjdH MuIFRoZWly IHRhcmdldC BjdXN0b21l cnMgaW5jbH VkZSByZXNp ZGVudGlhbC BhbmQgY29t bWVyY2lhbC Bwcm9wZXJ0 eSBvd25lcn MsIGJ1aWxk ZXJzIGFuZC Bjb250cmFj dG9ycywgZ2 92ZXJubWVu dCBhZ2VuY2 llcywgYW5k IHNlY3VyaX R5IHByb2Zl c3Npb25hbH MuIFRoZSBj b21wYW55IG ZvY3VzZXMg b24gcHJvdm lkaW5nIGlu bm92YXRpdm UsIHJlbGlh YmxlLCBhbm QgaGlnaC1x dWFsaXR5IH Byb2R1Y3Rz IHRvIG1lZX QgdGhlIGV2 b2x2aW5nIG 5lZWRzIG9m IHRoZSBtYX JrZXQuIFRo ZXkgYWxzby BpbnZlc3Qg aW4gcmVzZW FyY2ggYW5k IGRldmVsb3 BtZW50IHRv IGNvbnRpbn VvdXNseSBp bXByb3ZlIG FuZCBleHBh bmQgdGhlaX IgcHJvZHVj dCBvZmZlcm luZ3MuIEFk ZGl0aW9uYW xseSwgQWxs ZWdpb24gaG FzIGEgc3Ry b25nIGRpc3 RyaWJ1dGlv biBuZXR3b3 JrIGFuZCBw YXJ0bmVyc2 hpcHMgd2l0 aCBvdGhlci Bjb21wYW5p ZXMgdG8gcm VhY2ggYSBi cm9hZGVyIG N1c3RvbWVy IGJhc2Uu

AI has the potential to impact Allegion’s products, services, and competitive positioning in several ways.
1. Substitution: AI can lead to the development of smarter security solutions, such as advanced access control systems that use biometric recognition, machine learning for predictive security analytics, and automated monitoring systems. If competitors are quick to adopt and integrate AI technology into their offerings, they may provide alternatives to Allegion’s traditional products, which could attract customers seeking the latest innovations.
2. Disintermediation: AI-driven platforms could disrupt traditional distribution models by enabling customers to access security solutions directly without intermediaries. Software solutions that utilize AI for security management might allow businesses to manage access and security needs ihouse, reducing reliance on companies like Allegion.
3. Margin Pressure: As AI technology matures, the cost of implementing AI in products may decrease, allowing for more competitors to enter the market with advanced yet affordable solutions. This increase in competition could drive prices down, putting pressure on Allegion’s margins if they cannot keep pace with cost reductions or technology upgrades.
Overall, while AI poses challenges, it also offers opportunities for Allegion to innovate and enhance its offerings. The company will need to strategically adapt to these trends to maintain its competitive position.

Allegion’s earnings, cash flow, and valuation can be affected by changes in interest rates in several ways:
1. Earnings Sensitivity: Allegion’s earnings can be impacted by interest rates primarily through borrowing costs. If interest rates rise, the cost of servicing debt increases, which can lead to lower net income if not managed properly. Additionally, higher rates might slow down construction and renovation activities, which are key drivers of demand for Allegion’s products. This could negatively impact sales and margins.
2. Cash Flow Sensitivity: Cash flows are closely related to earnings but are also influenced by working capital needs. If interest rates rise and economic activity slows, Allegion could face challenges in managing inventory and receivables, potentially leading to tighter cash flows. Conversely, if rates fall, the company might experience lower interest expenses, improving cash flow.
3. Valuation Sensitivity: The valuation of Allegion can be affected by changes in interest rates through the discount rate used in discounted cash flow analyses. Higher interest rates increase the discount rate, which can reduce the present value of future cash flows and, consequently, the company’s valuation. Investors may also recalibrate their required rates of return based on changing economic conditions, which further affects how the market prices Allegion’s stock.
In summary, Allegion’s sensitivity to interest rate changes is multifaceted, affecting earnings through cost structures and revenue dynamics, cash flow via working capital requirements, and overall valuation through changes in discount rates and investment sentiment.

CiAgICAgIC AgICAgIDxk aXYgc3R5bG U9J3dpZHRo OiAxMDAlOy BkaXNwbGF5 OiBmbGV4Oy BqdXN0aWZ5 LWNvbnRlbn Q6IGNlbnRl cjsnPgogIC AgICAgICAg ICAgICAgPG RpdiBzdHls ZT0nCiAgIC AgICAgICAg ICAgICAgIC AgZGlzcGxh eTogZmxleD sKICAgICAg ICAgICAgIC AgICAgICBh bGlnbi1pdG VtczogY2Vu dGVyOwogIC AgICAgICAg ICAgICAgIC AgIGJhY2tn cm91bmQtY2 9sb3I6ICNm MGY0Zjg7Ci AgICAgICAg ICAgICAgIC AgICAgYm9y ZGVyOiAxcH ggc29saWQg I2QxZTNmMD sKICAgICAg ICAgICAgIC AgICAgICBi b3JkZXItcm FkaXVzOiAx MHB4OwogIC AgICAgICAg ICAgICAgIC AgIHBhZGRp bmc6IDEwcH g7CiAgICAg ICAgICAgIC AgICAgICAg bWFyZ2luOi AyMHB4IDA7 CiAgICAgIC AgICAgICAg ICAgICAgZm 9udC1mYW1p bHk6ICJTZW dvZSBVSSIs IFJvYm90by wgc2Fucy1z ZXJpZjsKIC AgICAgICAg ICAgICAgIC AgICBib3gt c2hhZG93Oi AwIDJweCA2 cHggcmdiYS gwLCAwLCAw LCAwLjA1KT sKICAgICAg ICAgICAgIC AgICAgICBt YXgtd2lkdG g6IDkwMHB4 OwogICAgIC AgICAgICAg ICAgICAgIH dpZHRoOiAx MDAlOyc+Cg ogICAgICAg ICAgICAgIC AgICAgIDxp bWcgc3JjPS Jhc3NldHMv bG9nb3MvOX NqQVVYYkNr ZWE0bDZ0d2 p1bVQud2Vi cCIgYWx0PS JBbGxlZ2lv biIgdGl0bG U9IkFsbGVn aW9uIiAgY2 xhc3M9Imlt Zy1mbHVpZC IgaGVpZ2h0 PTkwIHdpZH RoPTkwIGxv YWRpbmc9J2 xhenknIHN0 eWxlPSdib3 JkZXItcmFk aXVzOiA2cH g7Jz4KCiAg ICAgICAgIC AgICAgICAg ICAgPGRpdi BzdHlsZT0n ZmxleDogMT sgdGV4dC1h bGlnbjogY2 VudGVyOyBt YXJnaW4tbG VmdDogNXB4 Oyc+CiAgIC AgICAgICAg ICAgICAgIC AgICAgIDxw IHN0eWxlPS dmb250LXNp emU6IDI2cH g7IGNvbG9y OiAjMzMzOy BtYXJnaW4t Ym90dG9tOi AxNXB4Oyc+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICDw n5OIIFdhbn QgdG8gcmVh ZCBtb3JlIG Fib3V0IEFs bGVnaW9uPw ogICAgICAg ICAgICAgIC AgICAgICAg ICA8L3A+Cg ogICAgICAg ICAgICAgIC AgICAgICAg ICA8YSBocm VmPSdpbmRl eC5waHA/cG FnZT1zaWdu dXAnIHN0eW xlPScKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIGJhY2tn cm91bmQtY2 9sb3I6ICMw MDdCRkY7Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBjb2 xvcjogI2Zm ZjsKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IHBhZGRpbm c6IDEwcHgg MjBweDsKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIGJvcm Rlci1yYWRp dXM6IDVweD sKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIH RleHQtZGVj b3JhdGlvbj ogbm9uZTsK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIGZv bnQtd2VpZ2 h0OiBib2xk OwogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg bWFyZ2luLX JpZ2h0OiAx MHB4OwogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgdHJhbn NpdGlvbjog YmFja2dyb3 VuZC1jb2xv ciAwLjNzIG Vhc2U7Jwog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgb25t b3VzZW92ZX I9J3RoaXMu c3R5bGUuYm Fja2dyb3Vu ZENvbG9yPS IjMDA1NmIz IicKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IG9ubW91c2 VvdXQ9J3Ro aXMuc3R5bG UuYmFja2dy b3VuZENvbG 9yPSIjMDA3 QkZGIic+Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBTaW duIHVwIGZv ciBmcmVlCi AgICAgICAg ICAgICAgIC AgICAgICAg IDwvYT4KCi AgICAgICAg ICAgICAgIC AgICAgICAg IDxzcGFuIH N0eWxlPSdt YXJnaW46ID AgOHB4OyBj b2xvcjogIz U1NTsnPm9y PC9zcGFuPg oKICAgICAg ICAgICAgIC AgICAgICAg ICAgPGEgaH JlZj0naW5k ZXgucGhwP3 BhZ2U9bG9n aW4nIHN0eW xlPScKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIGNvbG9y OiAjMDA3Qk ZGOwogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgdGV4dC1k ZWNvcmF0aW 9uOiB1bmRl cmxpbmU7Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBmb2 50LXdlaWdo dDogNTAwOy c+CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Bsb2cgaW4K ICAgICAgIC AgICAgICAg ICAgICAgIC AgPC9hPgoK CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDxwIHN0 eWxlPSdtYX JnaW4tdG9w OiAxNXB4Oy Bmb250LXNp emU6IDEzcH g7IGZvbnQt d2VpZ2h0Oi Bib2xkOyBj b2xvcjogI2 QzMmYyZjsn PgogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg 8J+ZjCBKb2 luIG5vdyB0 byBnZXQgPG k+IlRoZSBD aGVja2xpc3 QgVmFsdWUg SW52ZXN0b3 Ig4oCUIEEg U21hcnRlci BXYXkgdG8g UGljayBTdG 9ja3MiPC9p PiBhdCBuby Bjb3N0CiAg ICAgICAgIC AgICAgICAg ICAgICAgID wvcD4KCiAg ICAgICAgIC AgICAgICAg ICAgICAgID whLS0KICAg ICAgICAgIC AgICAgICAg ICAgICAgPG RpdiBzdHls ZT0nbWFyZ2 luLXRvcDog MTJweDsgZm 9udC1zaXpl OiAxM3B4Oy Bjb2xvcjog IzQ0NDsnPg ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgU2 lnbiB1cCBu b3cgYW5kIG dldCBvdXIg ZnJlZSBlQm 9vayAKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIDxiPlRo ZSBDaGVja2 xpc3QgVmFs dWUgSW52ZX N0b3Ig4oCU IEEgU21hcn RlciBXYXkg dG8gUGljay BTdG9ja3M8 L2I+CiAgIC AgICAgICAg ICAgICAgIC AgICAgIDwv ZGl2PgogIC AgICAgICAg ICAgICAgIC AgICAgICAt LT4KICAgIC AgICAgICAg ICAgICAgIC AgICAgPCEt LQogICAgIC AgICAgICAg ICAgICAgIC AgICA8ZGl2 IHN0eWxlPS dtYXJnaW4t dG9wOiAxNn B4OyBmb250 LXNpemU6ID E0cHg7IGNv bG9yOiAjND Q0OyBmb250 LWZhbWlseT ogLWFwcGxl LXN5c3RlbS wgQmxpbmtN YWNTeXN0ZW 1Gb250LCBT ZWdvZSBVSS wgUm9ib3Rv LCBIZWx2ZX RpY2EgTmV1 ZSwgc2Fucy 1zZXJpZjsg bGluZS1oZW lnaHQ6IDEu NjsnPgogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgSGF2ZS B5b3UgaGVh cmQgYWJvdX Qgb3VyIHNo b3J0IDxzdH Jvbmcgc3R5 bGU9J2Zvbn Qtd2VpZ2h0 OiA2MDA7Jz 5EYWlseSBW aWRlbyBOZX dzbGV0dGVy PC9zdHJvbm c+PwogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgPGEgaHJl Zj0naHR0cH M6Ly93d3cu aW5zaWdodG Z1bHZhbHVl LmNvbS9uZX dzbGV0dGVy LnBocCcgdG FyZ2V0PSdf YmxhbmsnIH N0eWxlPSdj b2xvcjogIz AwN0JGRjsg dGV4dC1kZW NvcmF0aW9u OiBub25lOy Bmb250LXdl aWdodDogNT AwOyBtYXJn aW4tbGVmdD ogNnB4Oyc+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgRmluZC BvdXQgbW9y ZQogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg PC9hPgogIC AgICAgICAg ICAgICAgIC AgICAgICA8 L2Rpdj4KIC AgICAgICAg ICAgICAgIC AgICAgICAg LS0+CiAgIC AgICAgICAg ICAgICAgIC AgPC9kaXY+ CiAgICAgIC AgICAgICAg ICA8L2Rpdj 4KICAgICAg ICAgICAgPC 9kaXY+CiAg ICAgICAgIC AgIAogICAg ICAgIAogIC AgICAgIDxz cGFuIGNsYX NzPSdibHVy cmVkLXRleH QnPgogICAg ICAgICAgIC BMVUZzYkdW bmFXIDl1SU dseklHRWcg WjJ4dlltRn NJSCBObFkz VnlhWFI1IE lHRnVaQ0J6 WVcgWmxkSG tnY0hKdiBa SFZqZEhNZ1 kyIDl0Y0dG dWVTQjMgYV hSb0lHRWdh RyBsemRHOX llU0J2IFpp QnZkbVZ5SU QgRXdNQ0I1 WldGeSBjeT Q4WW5JK0xV IGwwSUhkaG N5QnYgY21s bmFXNWhiRy B4NUlHRWdj R0Z5IGRDQn ZaaUJKYm0g ZGxjbk52Yk d3dCBVbUZ1 WkN3Z2RXID UwYVd3Z2FY UWcgWW1Wal lXMWxJRyBG dUlHbHVaR1 Z3IFpXNWta VzUwSUcgTn ZiWEJoYm5r ZyBhVzRnTW pBeE15IDQ4 WW5JK0xWUm 8gWlNCdVlX MWxJRSBGc2 JHVm5hVzl1 IElHTnZiV1 Z6SUcgWnli MjBnWVNCai BiMjFpYVc1 aGRHIGx2Ym lCdlppQjAg YUdVZ2QyOX laSCBNZ1lX eHNaV2RwIF lXNWpaU0Jo Ym0gUWdiR2 x2Yml3ZyBj bVZ3Y21Wel pXIDUwYVc1 bklIUm8gWl NCamIyMXdZ VyA1NTRvQ1 pjeUJqIGIy MXRhWFJ0Wl cgNTBJSFJ2 SUhCeSBiM1 JsWTNScGIy IDRnWVc1a0 lITjAgY21W dVozUm9Mai B4aWNqNHRW R2hsIElHTn ZiWEJoYm4g bmlnSmx6SU hCeSBiMlIx WTNSeklHIE Z5WlNCbWIz VnUgWkNCcG JpQm9iMiAx bGN5d2dZbl Z6IGFXNWxj M05sY3kgd2 djMk5vYjI5 cyBjeXdnWV c1a0lHIDkw YUdWeUlHbH UgYzNScGRI VjBhVyA5dW N5QmhjbTkx IGJtUWdkR2 hsSUggZHZj bXhrTGp4aS BjajR0UVd4 c1pXIGRwYj I0Z2FHRnog SUc5MlpYSW dNVCBBc01E QXdJR1Z0IG NHeHZlV1Zs Y3kgQmhibV FnYjNCbCBj bUYwWlhNZ2 FXIDRnYlc5 eVpTQjAgYU dGdUlERXpN QyBCamIzVn VkSEpwIFpY TXVQR0p5UG kgMUpkSE1n Y0hKdiBaSF ZqZEhNZ2FX IDVqYkhWa1 pTQmsgYjI5 eUlHRnVaQy BCaFkyTmxj M01nIFkyOX VkSEp2YkMg QnpiMngxZE dsdiBibk1z SUdWc1pXIE 4wY205dWFX TWcgYkc5am EzTXNJRyBa cGNtVWdjMk ZtIFpYUjVJ SEJ5YjIgUj FZM1J6TENC aCBibVFnYl c5eVpTIDQ4 WW5JK0xWUm 8gWlNCamIy MXdZVyA1NU lHbHpJR0Vn IGJHVmhaR1 Z5SUcgbHVJ RzFsWTJoaC BibWxqWVd3 Z1lXIDVrSU dWc1pXTjAg Y205dWFXTW djMiBWamRY SnBkSGtzIE lIZHBkR2dn ZDIgVnNiQz FyYm05MyBi aUJpY21GdV pIIE1nYzNW amFDQmggY3 lCVFkyaHNZ VyBkbExDQl diMjRnIFJI VndjbWx1TE MgQmhibVFn VEVOTyBMan hpY2o0dFFX IHhzWldkcG IyNGcgYUdG eklHRWdjMy BSeWIyNW5J R052IGJXMX BkRzFsYm4g UWdkRzhnYz NWeiBkR0Zw Ym1GaWFXIH hwZEhrZ1lX NWsgSUdoaG N5QmlaVyBW dUlISmxZMj luIGJtbDZa V1FnWm0gOX lJR2wwY3lC bCBabVp2Y2 5SeklHIGx1 SUdWdWRtbH kgYjI1dFpX NTBZVyB3Z2 NtVnpjRzl1 IGMybGlhV3 hwZEgga3VQ R0p5UGkxVS BhR1VnWTI5 dGNHIEZ1ZV NCb1lYTWcg WVNCa2FYWm xjbiBObElI ZHZjbXRtIG IzSmpaU0Jo Ym0gUWdhWE 1nWTI5dCBi V2wwZEdWa0 lIIFJ2SUhC eWIyMXYgZE dsdVp5Qmth WCBabGNuTn BkSGtnIFlX NWtJR2x1WT IgeDFjMmx2 YmlCcCBiaU IwYUdVZ2Qy IDl5YTNCc1 lXTmwgTGp4 aWNqNHRRVy B4c1pXZHBi MjRnIGMzQn Zibk52Y24g TWdkR2hsSU VGcyBiR1Zu YVc5dUlFIE 52Ym01bFkz UnAgYm1jZ1 UyRm1aWCBS NUlITmphRz lzIFlYSnph R2x3SUggQn liMmR5WVcw cyBJSGRvYV dOb0lIIEJ5 YjNacFpHVn ogSUdacGJt RnVZMiBsaG JDQmhjM05w IGMzUmhibU 5sSUggUnZJ SE4wZFdSbC BiblJ6SUhC MWNuIE4xYV c1bklHUmwg WjNKbFpYTW dhVyA0Z2My Rm1aWFI1IE xYSmxiR0Yw WlcgUWdabW xsYkdSeiBM anhpY2o0dF ZHIGhsSUdO dmJYQmggYm 5rZ1lXeHpi eSBCd1lYSj BibVZ5IGN5 QjNhWFJvSU cgOXlaMkZ1 YVhwaCBkR2 x2Ym5NZ2Mz IFZqYUNCaG N5QkkgWVdK cGRHRjBJRy BadmNpQklk VzFoIGJtbD BlU0JoYm0g UWdkR2hsSU VGdCBaWEpw WTJGdUlGIE psWkNCRGNt OXogY3lCMG J5QnpkWCBC d2IzSjBJR0 52IGJXMTFi bWwwZVMgQm hibVFnWkds eiBZWE4wWl hJZ2NtIFZz YVdWbUlHVm 0gWm05eWRI TXUKICAgIC AgICA8L3Nw YW4+CiAgIC AgICAgCiAg ICAgICAg