OSB Group PLC

-8.66%

Live  

The OSB Group PLC is a UK-based financial services company that specializes in mortgage lending and savings accounts. It was founded in 2011 and is headquartered in Chatham, Kent.
The company operates primarily through its two main brands, Kent Reliance and Charter Savings Bank. Kent Reliance focuses on providing mortgages and savings accounts to UK customers, while Charter Savings Bank caters to a wider international market.
The OSB Group PLC has a strong focus on customer service and strives to offer competitive interest rates and flexible mortgage options. They also pride themselves on their technological innovations, such as their Online Application System, which allows customers to apply for a mortgage or savings account entirely online.
As of its most recent financial report in 2020, the OSB Group PLC had assets totaling £17.5 billion and a customer base of over 250,000. The company is also listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

MS4gTGVhZG luZyBidWls ZGluZyBtYX RlcmlhbHMg c3VwcGxpZX I6IE9TQiBH cm91cCBQTE MgaXMgb25l IG9mIHRoZS BsZWFkaW5n IGJ1aWxkaW 5nIG1hdGVy aWFscyBzdX BwbGllcnMg aW4gdGhlIF VLIGFuZCBJ cmVsYW5kLi BJdCBvZmZl cnMgYSB3aW RlIHJhbmdl IG9mIHByb2 R1Y3RzIGlu Y2x1ZGluZy B0aW1iZXIs IHBsdW1iaW 5nLCBoZWF0 aW5nLCByb2 9maW5nLCBp bnN1bGF0aW 9uLCBhbmQg bW9yZS48Yn I+Mi4gU3Ry b25nIG1hcm tldCBwb3Np dGlvbjogVG hlIGNvbXBh bnkgaGFzIG Egc3Ryb25n IG1hcmtldC Bwb3NpdGlv biB3aXRoIG EgbmV0d29y ayBvZiBvdm VyIDU0MCBs b2NhdGlvbn MgYW5kIG92 ZXIgMjEsMD AwIGVtcGxv eWVlcy4gSX QgaGFzIGEg c2lnbmlmaW NhbnQgbWFy a2V0IHNoYX JlIGluIHRo ZSBVSyBhbm QgSXJlbGFu ZCBjb25zdH J1Y3Rpb24g aW5kdXN0cn kuPGJyPjMu IEZvY3VzIG 9uIHN1c3Rh aW5hYmlsaX R5OiBPU0Ig R3JvdXAgUE xDIGhhcyBh IHN0cm9uZy Bmb2N1cyBv biBzdXN0YW luYWJpbGl0 eSBhbmQgaG FzIGJlZW4g cmVjb2duaX plZCBmb3Ig aXRzIGVmZm 9ydHMgaW4g cmVkdWNpbm cgaXRzIGNh cmJvbiBmb2 90cHJpbnQu IEl0IGhhcy BpbXBsZW1l bnRlZCB2YX Jpb3VzIHN1 c3RhaW5hYm xlIHByYWN0 aWNlcyBzdW NoIGFzIHVz aW5nIHJlbm V3YWJsZSBl bmVyZ3ksIH JlZHVjaW5n IHdhc3RlLC BhbmQgcHJv bW90aW5nIH Jlc3BvbnNp YmxlIHNvdX JjaW5nLjxi cj40LiBEaX ZlcnNlIHBy b2R1Y3QgcG 9ydGZvbGlv OiBUaGUgY2 9tcGFueSBv ZmZlcnMgYS BkaXZlcnNl IHByb2R1Y3 QgcG9ydGZv bGlvIGFjcm 9zcyBtdWx0 aXBsZSBjYX RlZ29yaWVz LCB3aGljaC BoZWxwcyBp dCBjYXRlci B0byBhIHdp ZGUgcmFuZ2 Ugb2YgY3Vz dG9tZXIgbm VlZHMuIFRo aXMgZW5hYm xlcyBpdCB0 byBtYWludG FpbiBhIGNv bXBldGl0aX ZlIGVkZ2Ug aW4gdGhlIG 1hcmtldC48 YnI+NS4gQ3 VzdG9tZXIt Y2VudHJpYy BhcHByb2Fj aDogT1NCIE dyb3VwIFBM QyBoYXMgYS BzdHJvbmcg Y3VzdG9tZX ItY2VudHJp YyBhcHByb2 FjaCBhbmQg c3RyaXZlcy B0byBwcm92 aWRlIGV4Y2 VsbGVudCBj dXN0b21lci BzZXJ2aWNl LiBJdCBoYX MgaW52ZXN0 ZWQgaW4gZG lnaXRhbCB0 b29scyBhbm QgdGVjaG5v bG9naWVzIH RvIGVuaGFu Y2UgdGhlIG N1c3RvbWVy IGV4cGVyaW VuY2UgYW5k IG1ha2UgaX QgbW9yZSBj b252ZW5pZW 50Ljxicj42 LiBJbm5vdm F0aW9uIGFu ZCB0ZWNobm 9sb2d5LWRy aXZlbjogVG hlIGNvbXBh bnkgaGFzIG VtYnJhY2Vk IGlubm92YX Rpb24gYW5k IHRlY2hub2 xvZ3kgdG8g aW1wcm92ZS BpdHMgb3Bl cmF0aW9ucy BhbmQgcHJv ZHVjdHMuIE l0IGhhcyBh IGRlZGljYX RlZCBpbm5v dmF0aW9uIH RlYW0gdGhh dCB3b3Jrcy BvbiBkZXZl bG9waW5nIG 5ldyBwcm9k dWN0cyBhbm QgaW1wcm92 aW5nIGV4aX N0aW5nIG9u ZXMuPGJyPj cuIFN0cm9u ZyBmaW5hbm NpYWwgcGVy Zm9ybWFuY2 U6IE9TQiBH cm91cCBQTE MgaGFzIGNv bnNpc3Rlbn RseSBkZWxp dmVyZWQgc3 Ryb25nIGZp bmFuY2lhbC BwZXJmb3Jt YW5jZSwgd2 l0aCBzdGVh ZHkgcmV2ZW 51ZSBncm93 dGggYW5kIH Byb2ZpdGFi aWxpdHkuIF RoaXMgaGFz IGhlbHBlZC B0aGUgY29t cGFueSB0by BleHBhbmQg aXRzIG9wZX JhdGlvbnMg YW5kIGludm VzdCBpbiBu ZXcgdGVjaG 5vbG9naWVz IGFuZCBwcm 9kdWN0cy48 YnI+OC4gRW 1wbG95ZWUg ZGV2ZWxvcG 1lbnQ6IFRo ZSBjb21wYW 55IGlzIGNv bW1pdHRlZC B0byB0aGUg ZGV2ZWxvcG 1lbnQgYW5k IHdlbGwtYm Vpbmcgb2Yg aXRzIGVtcG xveWVlcy4g SXQgb2ZmZX JzIHZhcmlv dXMgdHJhaW 5pbmcgYW5k IGRldmVsb3 BtZW50IHBy b2dyYW1zIH RvIGl0cyBl bXBsb3llZX MgYW5kIGhh cyBhIHN0cm 9uZyBmb2N1 cyBvbiBwcm 9tb3Rpbmcg ZGl2ZXJzaX R5IGFuZCBp bmNsdXNpb2 4gaW4gdGhl IHdvcmtwbG FjZS48YnI+ OS4gRXRoaW NhbCBidXNp bmVzcyBwcm FjdGljZXM6 IE9TQiBHcm 91cCBQTEMg Zm9sbG93cy BldGhpY2Fs IGJ1c2luZX NzIHByYWN0 aWNlcyBhbm QgbWFpbnRh aW5zIGhpZ2 ggc3RhbmRh cmRzIG9mIG NvcnBvcmF0 ZSBnb3Zlcm 5hbmNlLiBJ dCBoYXMgYm VlbiByZWNv Z25pemVkIG ZvciBpdHMg dHJhbnNwYX JlbmN5IGFu ZCByZXNwb2 5zaWJsZSBi dXNpbmVzcy Bjb25kdWN0 Ljxicj4xMC 4gQ29tbXVu aXR5IGludm 9sdmVtZW50 OiBUaGUgY2 9tcGFueSBp cyBhY3Rpdm VseSBpbnZv bHZlZCBpbi B0aGUgbG9j YWwgY29tbX VuaXRpZXMg d2hlcmUgaX Qgb3BlcmF0 ZXMsIHRocm 91Z2ggdmFy aW91cyBpbm l0aWF0aXZl cyBhbmQgcG FydG5lcnNo aXBzLiBJdC BzdXBwb3J0 cyBsb2NhbC BjaGFyaXRp ZXMsIHNjaG 9vbHMsIGFu ZCBjb21tdW 5pdHkgcHJv amVjdHMsIG RlbW9uc3Ry YXRpbmcgaX RzIGNvbW1p dG1lbnQgdG 8gc29jaWFs IHJlc3Bvbn NpYmlsaXR5 Lg==

T1NCIEdyb3 VwIFBMQyBp cyBhIFVLLW Jhc2VkIGZp bmFuY2lhbC BzZXJ2aWNl cyBjb21wYW 55IHRoYXQg cHJpbWFyaW x5IG9wZXJh dGVzIGluIH RoZSBtb3J0 Z2FnZSBhbm Qgc2F2aW5n cyBtYXJrZX QuIEl0cyBi dXNpbmVzcy Btb2RlbCBp cyBwcmltYX JpbHkgZm9j dXNlZCBvbi Bwcm92aWRp bmcgcmVzaW RlbnRpYWwg YW5kIGJ1eS 10by1sZXQg bW9ydGdhZ2 VzIHRvIGN1 c3RvbWVycy wgYXMgd2Vs bCBhcyBvZm ZlcmluZyBk ZXBvc2l0IG FjY291bnRz IGFuZCBib3 Jyb3dpbmcg ZmFjaWxpdG llcyB0byBz dXBwb3J0IG l0cyBsZW5k aW5nIGFjdG l2aXRpZXMu IDxicj5UaG UgY29tcGFu eSBwcmltYX JpbHkgZ2Vu ZXJhdGVzIH JldmVudWUg dGhyb3VnaC BpbnRlcmVz dCBpbmNvbW Ugb24gaXRz IGxlbmRpbm cgYWN0aXZp dGllcywgYX Mgd2VsbCBh cyBmZWVzIG FuZCBjb21t aXNzaW9ucy BlYXJuZWQg b24gaXRzIG 1vcnRnYWdl IGFuZCBzYX ZpbmdzIHBy b2R1Y3RzLi BPU0IgR3Jv dXAgYWxzby BnZW5lcmF0 ZXMgaW5jb2 1lIGZyb20g c2VjdXJpdG lzYXRpb24g b2YgaXRzIG xvYW4gcG9y dGZvbGlvLj xicj5UaGUg Y29tcGFueS dzIGJ1c2lu ZXNzIG1vZG VsIGlzIGJh c2VkIG9uIG EgY29uc2Vy dmF0aXZlIG FwcHJvYWNo IHRvIGxlbm RpbmcsIHdo aWNoIGluY2 x1ZGVzIHRh cmdldGluZy BwcmltZSBy ZXNpZGVudG lhbCBhbmQg YnV5LXRvLW xldCBjdXN0 b21lcnMsIG NvbmR1Y3Rp bmcgdGhvcm 91Z2ggY3Jl ZGl0IGNoZW NrcywgYW5k IG1haW50YW luaW5nIGEg cmlnb3JvdX MgcmlzayBt YW5hZ2VtZW 50IGZyYW1l d29yay4gVG hpcyBhcHBy b2FjaCBhaW 1zIHRvIG1p dGlnYXRlIH BvdGVudGlh bCByaXNrcy BhbmQgZW5z dXJlIGEgc3 RhYmxlIGFu ZCBzdXN0YW luYWJsZSBs b2FuIHBvcn Rmb2xpby48 YnI+QWRkaX Rpb25hbGx5 LCBPU0IgR3 JvdXAgaGFz IGEgZGl2ZX JzaWZpZWQg ZnVuZGluZy Btb2RlbCwg d2hpY2ggaW 5jbHVkZXMg cmV0YWlsIH NhdmluZ3Mg ZGVwb3NpdH MsIHdob2xl c2FsZSBmdW 5kaW5nLCBh bmQgc2VjdX JpdGlzYXRp b24uIFRoaX MgZW5hYmxl cyB0aGUgY2 9tcGFueSB0 byBzZWN1cm UgZnVuZGlu ZyBmcm9tIH ZhcmlvdXMg c291cmNlcy BhbmQgcmVk dWNlIGl0cy ByZWxpYW5j ZSBvbiBhbn kgc2luZ2xl IGZ1bmRpbm cgc291cmNl Ljxicj5Pdm VyYWxsLCBP U0IgR3JvdX AncyBidXNp bmVzcyBtb2 RlbCBpcyBm b2N1c2VkIG 9uIGRlbGl2 ZXJpbmcgdm FsdWUgdG8g aXRzIGN1c3 RvbWVycyB0 aHJvdWdoIG NvbXBldGl0 aXZlIG1vcn RnYWdlIGFu ZCBzYXZpbm dzIHByb2R1 Y3RzLCB3aG lsZSBtYWlu dGFpbmluZy BhIGRpc2Np cGxpbmVkIG FuZCBzdXN0 YWluYWJsZS BhcHByb2Fj aCB0byBsZW 5kaW5nIGFu ZCByaXNrIG 1hbmFnZW1l bnQu

The impact of AI on companies like OSB Group PLC can vary based on several factors including the specific business model, market position, and adaptability to technological changes. Here are some potential ways AI might pose a material threat:
1. Substitution: AI-driven financial technologies are becoming increasingly sophisticated and can offer alternative solutions to traditional banking and lending services. If OSB Group’s products, such as mortgage lending, personal loans, or savings solutions, can be effectively replicated by AI-powered platforms, this could lead to a loss of market share as customers may prefer faster, more efficient, or lower-cost options.
2. Disintermediation: AI could enable direct transactions between consumers and service providers without traditional intermediaries like banks or lenders. This could diminish the role of companies like OSB Group in the value chain, as customers may choose to engage directly with technology platforms that provide similar services without the bank as a middle entity.
3. Margin Pressure: As competition increases from AI-enabled companies that can operate with lower overheads and offer more competitive pricing, established companies like OSB Group may experience margin pressure. This could force them to either reduce prices or invest significantly in technology to enhance their own offerings, impacting overall profitability.
4. Customer Expectations: AI can significantly enhance customer experience through personalized services, faster processing times, and improved decisiomaking. If OSB Group fails to leverage AI to meet evolving customer expectations, it might lose its competitive edge in retaining and attracting customers.
5. Risk Management: AI brings advanced tools for risk assessment and fraud detection, which could be utilized by notraditional financial entities. If OSB Group does not keep pace with these advancements, it could face higher risks or be outperformed in terms of risk management.
Ultimately, the degree to which AI poses a threat to OSB Group PLC will depend on the company’s ability to adapt, innovate, and integrate AI into its offerings while maintaining competitive pricing and customer satisfaction.
1217330

The sensitivity of OSB Group PLC’s earnings, cash flow, and valuation to changes in interest rates can be quite significant due to its business model, which involves lending and mortgage financing.
1. Earnings: Higher interest rates can increase borrowing costs for customers, potentially leading to a slowdown in mortgage origination and decreased demand for loans. This can result in reduced interest income for the company. Conversely, if interest rates rise, the company may benefit from higher margins on variable-rate loans, but the net effect generally depends on the elasticity of demand for their products.
2. Cash Flow: Interest rate fluctuations can also impact the company’s cash flow. Increased rates may lead to higher financing costs for the company itself, particularly if it relies on variable-rate funding. This can strain cash flow, especially if there is a corresponding decrease in loan demand or an increase in loan defaults. Additionally, customer repayments might be affected if borrowers struggle to meet higher monthly payments.
3. Valuation: Interest rates play a crucial role in valuation, particularly in discounted cash flow models. Higher interest rates typically lead to higher discount rates, which can decrease the present value of future cash flows, thereby negatively impacting the company’s valuation. Moreover, if the market anticipates sustained high rates, it may lead to a reassessment of growth prospects for the company, further affecting share prices.
Overall, while the OSB Group may benefit from higher rates in terms of margin expansion on existing loans, the potential for reduced demand and higher costs create a complex relationship. Monitoring economic indicators and interest rate trends is essential for understanding the overall impact on its financial performance.

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 bG9nb3MvVD RObWtxZDFl cWtYdUQ1ej h2Ylcud2Vi cCIgYWx0PS JPU0IgR3Jv dXAgUExDIi B0aXRsZT0i T1NCIEdyb3 VwIFBMQyIg IGNsYXNzPS JpbWctZmx1 aWQiIGhlaW dodD05MCB3 aWR0aD05MC Bsb2FkaW5n PSdsYXp5Jy BzdHlsZT0n Ym9yZGVyLX JhZGl1czog NnB4Oyc+Cg ogICAgICAg ICAgICAgIC AgICAgIDxk aXYgc3R5bG U9J2ZsZXg6 IDE7IHRleH QtYWxpZ246 IGNlbnRlcj sgbWFyZ2lu LWxlZnQ6ID VweDsnPgog ICAgICAgIC AgICAgICAg ICAgICAgIC A8cCBzdHls ZT0nZm9udC 1zaXplOiAy NnB4OyBjb2 xvcjogIzMz MzsgbWFyZ2 luLWJvdHRv bTogMTVweD snPgogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Ag8J+TiCBX YW50IHRvIH JlYWQgbW9y ZSBhYm91dC BPU0IgR3Jv dXAgUExDPw 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+TmCBDbG FpbSB5b3Vy IGZyZWUgZU Jvb2s6IDxp PiJUaGUgQ2 hlY2tsaXN0 IFZhbHVlIE ludmVzdG9y IOKAlCBBIF NtYXJ0ZXIg V2F5IHRvIF BpY2sgU3Rv Y2tzIjwvaT 4KICAgICAg ICAgICAgIC AgICAgICAg ICAgPC9wPg oKICAgICAg ICAgICAgIC AgICAgICAg ICAgPCEtLQ ogICAgICAg ICAgICAgIC AgICAgICAg ICA8ZGl2IH N0eWxlPSdt YXJnaW4tdG 9wOiAxMnB4 OyBmb250LX NpemU6IDEz cHg7IGNvbG 9yOiAjNDQ0 Oyc+CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBTaWduIH VwIG5vdyBh bmQgZ2V0IG 91ciBmcmVl IGVCb29rIA ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgPG I+VGhlIENo ZWNrbGlzdC BWYWx1ZSBJ bnZlc3Rvci DigJQgQSBT bWFydGVyIF dheSB0byBQ aWNrIFN0b2 NrczwvYj4K ICAgICAgIC AgICAgICAg ICAgICAgIC AgPC9kaXY+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgIC0tPgog ICAgICAgIC AgICAgICAg ICAgICAgIC A8IS0tCiAg ICAgICAgIC AgICAgICAg ICAgICAgID xkaXYgc3R5 bGU9J21hcm dpbi10b3A6 IDE2cHg7IG ZvbnQtc2l6 ZTogMTRweD sgY29sb3I6 ICM0NDQ7IG ZvbnQtZmFt aWx5OiAtYX BwbGUtc3lz dGVtLCBCbG lua01hY1N5 c3RlbUZvbn QsIFNlZ29l IFVJLCBSb2 JvdG8sIEhl bHZldGljYS BOZXVlLCBz YW5zLXNlcm lmOyBsaW5l LWhlaWdodD ogMS42Oyc+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBI YXZlIHlvdS BoZWFyZCBh Ym91dCBvdX Igc2hvcnQg PHN0cm9uZy BzdHlsZT0n Zm9udC13ZW lnaHQ6IDYw MDsnPkRhaW x5IFZpZGVv IE5ld3NsZX R0ZXI8L3N0 cm9uZz4/Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICA8YS BocmVmPSdo dHRwczovL3 d3dy5pbnNp Z2h0ZnVsdm FsdWUuY29t L25ld3NsZX R0ZXIucGhw JyB0YXJnZX Q9J19ibGFu aycgc3R5bG U9J2NvbG9y OiAjMDA3Qk ZGOyB0ZXh0 LWRlY29yYX Rpb246IG5v bmU7IGZvbn Qtd2VpZ2h0 OiA1MDA7IG 1hcmdpbi1s ZWZ0OiA2cH g7Jz4KICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBG aW5kIG91dC Btb3JlCiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICA8L2E+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDwvZGl2 PgogICAgIC AgICAgICAg ICAgICAgIC AgICAtLT4K ICAgICAgIC AgICAgICAg ICAgICA8L2 Rpdj4KICAg ICAgICAgIC AgICAgIDwv ZGl2PgogIC AgICAgICAg ICA8L2Rpdj 4KICAgICAg ICAgICAgCi AgICAgICAg CiAgICAgIC AgPHNwYW4g Y2xhc3M9J2 JsdXJyZWQt dGV4dCc+Ci AgICAgICAg ICAgIE1TNG dWR2hsSUUg OVRRaUJIY2 05MSBjQ0JR VEVNZ2FYIE 1nWVNCQ2Nt bDAgYVhOb0 lHMTFiSCBS cGJtRjBhVz l1IFlXd2dZ Mjl0Y0cgRn VlU0J2Y0dW eSBZWFJwYm 1jZ2FXIDRn ZEdobElHWn AgYm1GdVky bGhiQyBCel pYSjJhV05s IGN5QnBibV IxYzMgUnll UzQ4WW5JKy BNaTRnU1hR Z2QyIEZ6SU dadmRXNWsg WldRZ2FXNG dNaiBBeE1T QmhjeUJoIE lITndhVzR0 YjIgWm1JR1 p5YjIwZyBk R2hsSUV0bG JuIFFnVW1W c2FXRnUgWT JVZ1FuVnBi RyBScGJtY2 dVMjlqIGFX VjBlU3dnWV cgNWtJSGRo Y3lCdiBjbW xuYVc1aGJH IHg1SUd0dW IzZHUgSUdG eklFOXVaVi BOaGRtbHVa M01nIFFtRn VheUJ3Ykcg TXVQR0p5UG pNdSBJRlJv WlNCamIyID F3WVc1NUlH bHogSUd4cG MzUmxaQyBC dmJpQjBhR1 VnIFRHOXVa Rzl1SUYgTj BiMk5ySUVW NCBZMmhoYm 1kbElHIEZ1 WkNCcGN5Qm ggSUdOdmJu TjBhWCBSMV pXNTBJRzlt IElIUm9aU0 JHVkYgTkZJ REkxTUNCSi BibVJsZUM0 OFluIEkrTk M0Z1QxTkMg SUVkeWIzVn dJRiBCTVF5 QnZabVpsIG NuTWdZU0J5 WVcgNW5aU0 J2WmlCbSBh VzVoYm1OcF lXIHdnY0hK dlpIVmogZE hNZ1lXNWtJ SCBObGNuWn BZMlZ6IExD QnBibU5zZF cgUnBibWNn Y21WeiBhV1 JsYm5ScFlX IHdnWVc1a0 lHTnYgYlcx bGNtTnBZVy B3Z2JXOXlk R2RoIFoyVn pMQ0JpZFgg a3RkRzh0Yk dWMCBJR3h2 WVc1ekxDIE JoYm1RZ2My RjIgYVc1bm N5QmhZMiBO dmRXNTBjeT Q4IFluSStO UzRnVkcgaG xJR052YlhC aCBibmtnYj NCbGNtIEYw WlhNZ2RHaH kgYjNWbmFD QjBhSCBKbF pTQnRZV2x1 IElHSnlZVz VrY3ogb2dT MlZ1ZENCUy BaV3hwWVc1 alpTIHdnU1 c1MFpYSkMg WVhrZ1EyOX RiVyBWeVky bGhiQ3dnIF lXNWtJRkJ5 WlggTjBhV2 RsSUVacCBi bUZ1WTJVdV BHIEp5UGpZ dUlFOVQgUW lCSGNtOTFj QyBCUVRFTW dhR0Z6IElH RWdjM1J5Yj IgNW5JSEJ5 WlhObCBibU 5sSUdsdUlI IFJvWlNCVl N5QnQgYjNK MFoyRm5aUy BCdFlYSnJa WFFzIElIZH BkR2dnYjMg WmxjaUEzTU RBcyBNREF3 SUdOMWMzIF J2YldWeWN5 QmggYm1RZ3 dxTXlNQyBC aWFXeHNhVz l1IElHbHVJ R0Z6YzIgVj BjeTQ4WW5J KyBOeTRnU1 c0Z01qIEF4 TlN3Z2RHaG wgSUdOdmJY QmhibiBrZ1 lXTnhkV2x5 IFpXUWdTbV Z5YzIgVjVM V0poYzJWay BJRzltWm5O b2IzIEpsSU hOaGRtbHUg WjNNZ1ltRn VheSB3Z1Iz VmxjbTV6IF pYa2dTRzl0 WlMgQk1iMk Z1Y3l3ZyBk MmhwWTJnZ1 pYIGh3WVc1 a1pXUWcgYV hSeklHOW1a bSBWeWFXNW 5JSFJ2IElI Um9aU0JKYz IgeGxJRzlt SUUxaCBiaU JoYm1RZ2RH IGhsSUVOb1 lXNXUgWld3 Z1NYTnNZVy A1a2N5NDhZ bkkrIE9DNG dTVzRnTWog QXhOaXdnZE dobCBJR052 YlhCaGJuIG tnWVdOeGRX bHkgWldRZ1 lTQXpNQyBV Z2MzUmhhMl VnIGFXNGdS blZzYUcgRn RJRVp2YjNS aSBZV3hzSU VOc2RXIElz SUdKbFkyOX QgYVc1bklH bDBjeSBCdF lXbHVJSFJs IFlXMGdjM0 J2Ym4gTnZj aUJoYm1RZy BibUZ0YVc1 bklIIEpwWj JoMGN5Qncg WVhKMGJtVn lJRyBadmNp QkdkV3hvIF lXM2lnSmx6 SUUgTnlZWF psYmlCRCBi M1IwWVdkbE lIIE4wWVdS cGRXMHUgUE dKeVBqa3VJ RSA5VFFpQk hjbTkxIGND QlFURU1nYU cgRnpJR0ps Wlc0ZyBjbV ZqYjJkdWFY IHBsWkNCbW IzSWcgYVhS eklITjBjbS A5dVp5Qm1h VzVoIGJtTn BZV3dnY0cg VnlabTl5Yl dGdSBZMlVz SUhkcGJtID VwYm1jZ1lY ZGggY21Sek lITjFZMiBn Z1lYTWdkR2 hsIElPS0Fu RUpsYzMgUW dVMkYyYVc1 biBjeUJRY2 05MmFXIFJs Y3VLQW5TQm ggZENCMGFH VWdNaiBBeE 9TQkdhVzVo IGJtTnBZV3 dnUVcgUjJh WE5sY2lCVC BaWEoyYVdO bElFIEYzWV hKa2N5NDgg WW5JK01UQX VJRiBSb1pT QmpiMjF3IF lXNTVJR2x6 SUcgTnZiVz FwZEhSbCBa Q0IwYnlCam IzIEp3YjNK aGRHVWcgYz I5amFXRnNJ SCBKbGMzQn Zibk5wIFlt bHNhWFI1SU cgRnVaQ0Jv WVhNZyBjR0 Z5ZEc1bGNu IE5vYVhCek lIZHAgZEdn Z2RtRnlhVy A5MWN5Qmph R0Z5IGFYUm hZbXhsSUcg OXlaMkZ1YV hwaCBkR2x2 Ym5Nc0lHIG x1WTJ4MVpH bHUgWnlCQl oyVWdWVSBz Z1lXNWtJRT FwIGJtUXNJ SFJ2SUggTj FjSEJ2Y25R ZyBhVzVwZE dsaGRHIGwy WlhNZ2FXNG cgZEdobGFY SWdiRyA5al lXd2dZMjl0 IGJYVnVhWF JwWlggTXUK ICAgICAgIC A8L3NwYW4+ CiAgICAgIC AgCiAgICAg ICAg
See Company Q&A