Warsaw Stock Exchange

+7.61%

Live  

when it was established and key milestones in its history:
The Warsaw Stock Exchange (WSE) was established on April 12, 1991 following the transformation of the former Warsaw Commodity Exchange into a modern exchange. It was the first modern stock exchange in Poland and played a crucial role in the development of the Polish capital market.
Some key milestones in the history of the WSE include:
- The first trading session on April 16, 1991, with 5 listed companies and 9 brokerage houses participating
- Launch of the WIG index on April 16, 1994, which serves as a benchmark for the performance of the Polish stock market
- Introduction of electronic trading on the WSE in 1995, replacing the traditional trading floor
- Privatization of the WSE in 1999, with the majority of shares sold to a group of private investors
- Merger with the Warsaw Futures and Options Exchange in 2002, creating a multi-asset-class exchange offering trading in stocks, bonds, derivatives, and commodities
- Launch of the NewConnect market in 2007 for small and medium-sized companies seeking capital
- Introduction of the Catalyst market in 2009 for trading in corporate and municipal bonds
- Obtaining full membership in the World Federation of Exchanges in 2010
- Launch of the TGE (Polish Power Exchange) in 2012 as a subsidiary of the WSE, offering trading in electricity and natural gas derivatives
- Alliance formed in 2013 with the Vienna Stock Exchange to strengthen cooperation and cross-listing opportunities
- Record high of 500 listed companies reached in 2015
- Strategic cooperation agreement signed with the Shanghai Stock Exchange in 2016, allowing for mutual promotion and market access
- Introduction of the WSE Growth market in 2017 for smaller companies with high growth potential
- Implementation of a new IT trading platform in 2018 to increase efficiency and attract more foreign investors
- Launch of the Catalyst+ market in 2019 to provide access to capital for large and medium-sized enterprises
- Record high of 770 billion PLN in market capitalization reached in August 2020.

VGhlIFdhcn NhdyBTdG9j ayBFeGNoYW 5nZSwgb3Ig V1NFLCBpcy BhIHBsYWNl IHdoZXJlIH Blb3BsZSBi dXkgYW5kIH NlbGwgcGll Y2VzIG9mIG NvbXBhbmll cywgd2hpY2 ggYXJlIGNh bGxlZCDigJ xzdG9ja3Mu 4oCdIEltYW dpbmUgYSBi aWcgc3Rvcm Ugd2hlcmUg aW5zdGVhZC BvZiBidXlp bmcgdG95cy BvciBjYW5k eSwgcGVvcG xlIGFyZSBi dXlpbmcgbG l0dGxlIHBh cnRzIG9mIG J1c2luZXNz ZXMuIFdoZW 4gc29tZW9u ZSBidXlzIG Egc3RvY2ss IHRoZXkgb3 duIGEgdGlu eSBwaWVjZS BvZiB0aGF0 IGNvbXBhbn kuPGJyPlNv LCBob3cgZG 9lcyB0aGUg V2Fyc2F3IF N0b2NrIEV4 Y2hhbmdlIG 1ha2UgbW9u ZXk/IEl0IG Vhcm5zIG1v bmV5IG1vc3 RseSBmcm9t IGZlZXMuIE ZvciBleGFt cGxlLCB3aG VuIGEgY29t cGFueSBkZW NpZGVzIHRv IHNlbGwgaX RzIHN0b2Nr cyBmb3IgdG hlIGZpcnN0 IHRpbWUgdG 8gdGhlIHB1 YmxpYywgdG hlIFdTRSB0 YWtlcyBhIG ZlZSBmb3Ig aGVscGluZy BvdXQuIEFs c28sIGV2ZX J5IHRpbWUg c29tZW9uZS BidXlzIG9y IHNlbGxzIH N0b2Nrcywg dGhlIGV4Y2 hhbmdlIGdl dHMgYSBsaX R0bGUgYml0 IG9mIG1vbm V5IGFzIGEg Y29tbWlzc2 lvbi4gU28s IG1vcmUgYn V5aW5nIGFu ZCBzZWxsaW 5nIG1lYW5z IG1vcmUgbW 9uZXkgZm9y IHRoZSBXU0 UuPGJyPlRo ZSBXU0UgaX Mgc3VjY2Vz c2Z1bCBmb3 IgYSBmZXcg cmVhc29ucy 4gRmlyc3Qs IFBvbGFuZC BoYXMgbWFu eSBidXNpbm Vzc2VzIGFu ZCBwZW9wbG Ugd2hvIHdh bnQgdG8gaW 52ZXN0IGlu IHRoZW0uIF RoaXMgbWFr ZXMgdGhlIF dTRSBhIGJ1 c3kgcGxhY2 Ugd2l0aCBs b3RzIG9mIG FjdGl2aXR5 LiBTZWNvbm QsIHRoZSBl Y29ub215IG luIFBvbGFu ZCBoYXMgYm VlbiBncm93 aW5nLCBhbm QgYXMgbW9y ZSBwZW9wbG UgYW5kIGJ1 c2luZXNzZX MgZG8gd2Vs bCwgdGhleS BvZnRlbiB3 YW50IHRvIG ludmVzdCwg d2hpY2ggaG VscHMgdGhl IHN0b2NrIG V4Y2hhbmdl IGdyb3cgZX ZlbiBtb3Jl Ljxicj5Mb2 9raW5nIGlu dG8gdGhlIG Z1dHVyZSwg dGhlIFdTRS BpcyBsaWtl bHkgdG8gc3 RheSBzdWNj ZXNzZnVsLi BQb2xhbmQg d2FudHMgdG 8gZGV2ZWxv cCBpdHMgZW Nvbm9teSBh bmQgYXR0cm FjdCBtb3Jl IGNvbXBhbm llcyB0byBs aXN0IHRoZW lyIHN0b2Nr cyBvbiB0aG UgZXhjaGFu Z2UuIEFsc2 8sIG1vcmUg cGVvcGxlIG FyZSBsZWFy bmluZyBhYm 91dCBpbnZl c3RpbmcgYW 5kIHdhbnQg dG8gcGFydG ljaXBhdGUu IElmIHRoZS BXU0UgY2Fu IGtlZXAgaG VscGluZyBi dXNpbmVzc2 VzIGdyb3cg YW5kIG1ha2 UgaW52ZXN0 aW5nIGVhc3 kgZm9yIGV2 ZXJ5b25lLC BpdCB3aWxs IGNvbnRpbn VlIHRvIHRo cml2ZSBmb3 IgeWVhcnMg dG8gY29tZS E8YnI+

VGhlIFdhcn NhdyBTdG9j ayBFeGNoYW 5nZSAoV1NF KSBpcyB0aG UgbWFpbiBz ZWN1cml0aW VzIGV4Y2hh bmdlIGluIF BvbGFuZCBh bmQgb25lIG 9mIHRoZSBs YXJnZXN0IG 1hcmtldHBs YWNlcyBpbi BDZW50cmFs IGFuZCBFYX N0ZXJuIEV1 cm9wZS4gVG hlIFdTRSBj b21wYW55IG 9wZXJhdGVz IGFzIGEgc2 VsZi1yZWd1 bGF0ZWQgb3 JnYW5pemF0 aW9uLCBwcm 92aWRpbmcg YSBwbGF0Zm 9ybSBmb3Ig dHJhZGluZy BzdG9ja3Ms IGJvbmRzLC BhbmQgY29t bW9kaXRpZX MuIDxicj5T b21lIGtleS BmYWN0b3Jz IHRoYXQgbW FrZSB0aGUg V1NFIGNvbX Bhbnkgc3Bl Y2lhbCBpbm NsdWRlOjxi cj4xLiBTdH JvbmcgZWNv bm9taWMgcG VyZm9ybWFu Y2U6IFRoZS BXU0UgaXMg b2Z0ZW4gc2 VlbiBhcyBh IHN5bWJvbC BvZiBQb2xh bmQncyBlY2 9ub21pYyBn cm93dGggYW 5kIHN0YWJp bGl0eS4gSX QgaGFzIHBs YXllZCBhIH NpZ25pZmlj YW50IHJvbG UgaW4gZmFj aWxpdGF0aW 5nIHRoZSBj b3VudHJ5J3 MgdHJhbnNp dGlvbiB0by BhIGZyZWUt bWFya2V0IG Vjb25vbXkg YW5kIGF0dH JhY3Rpbmcg Zm9yZWlnbi BpbnZlc3Rt ZW50Ljxicj 4yLiBSZWdp b25hbCBsZW FkZXJzaGlw OiBUaGUgV1 NFIGlzIHRo ZSBsZWFkaW 5nIGV4Y2hh bmdlIGluIE NlbnRyYWwg YW5kIEVhc3 Rlcm4gRXVy b3BlLCBhY2 NvdW50aW5n IGZvciBhIH NpZ25pZmlj YW50IHNoYX JlIG9mIHRo ZSByZWdpb2 4ncyB0b3Rh bCBtYXJrZX QgY2FwaXRh bGl6YXRpb2 4gYW5kIHRy YWRpbmcgdm 9sdW1lLiBJ dCBhbHNvIH NlcnZlcyBh cyBhbiBpbX BvcnRhbnQg Z2F0ZXdheS Bmb3IgY29t cGFuaWVzIG Zyb20gdGhl IHJlZ2lvbi B0byBhY2Nl c3MgZ2xvYm FsIGNhcGl0 YWwgbWFya2 V0cy48YnI+ My4gRGl2ZX JzaWZpZWQg bWFya2V0Oi BUaGUgV1NF IG9mZmVycy BhIHdpZGUg cmFuZ2Ugb2 YgZmluYW5j aWFsIGluc3 RydW1lbnRz LCBpbmNsdW Rpbmcgc3Rv Y2tzLCBib2 5kcywgaW5k ZXggZnV0dX JlcywgYW5k IG9wdGlvbn MuIFRoaXMg cHJvdmlkZX MgaW52ZXN0 b3JzIHdpdG ggZGl2ZXJz ZSBpbnZlc3 RtZW50IG9w cG9ydHVuaX RpZXMgYW5k IHJpc2sgbW FuYWdlbWVu dCB0b29scy 48YnI+NC4g VGVjaC1zYX Z2aW5lc3M6 IFRoZSBXU0 UgaGFzIGJl ZW4gYXQgdG hlIGZvcmVm cm9udCBvZi B0ZWNobm9s b2dpY2FsIG lubm92YXRp b24sIGNvbn RpbnVvdXNs eSB1cGdyYW RpbmcgaXRz IHRyYWRpbm cgcGxhdGZv cm0gYW5kIG ludHJvZHVj aW5nIG5ldy Bwcm9kdWN0 cyBhbmQgc2 VydmljZXMu IFRoaXMgaG FzIGhlbHBl ZCB0aGUgZX hjaGFuZ2Ug dG8gcmVtYW luIGNvbXBl dGl0aXZlIG FuZCBhdHRy YWN0IGEgZ2 xvYmFsIGlu dmVzdG9yIG Jhc2UuPGJy PjUuIFN0cm 9uZyByZWd1 bGF0b3J5IG ZyYW1ld29y azogVGhlIF dTRSBvcGVy YXRlcyB1bm RlciBhIHRy YW5zcGFyZW 50IGFuZCBy b2J1c3Qgcm VndWxhdG9y eSBmcmFtZX dvcmssIHdo aWNoIGVuc3 VyZXMgaW52 ZXN0b3IgcH JvdGVjdGlv biBhbmQgbW Fya2V0IGlu dGVncml0eS 4gVGhpcyBo YXMgaGVscG VkIHRvIGJ1 aWxkIHRydX N0IGFuZCBj b25maWRlbm NlIGluIHRo ZSBleGNoYW 5nZSBhbW9u ZyBkb21lc3 RpYyBhbmQg aW50ZXJuYX Rpb25hbCBp bnZlc3Rvcn MuPGJyPjYu IFByb21vdG luZyBzdXN0 YWluYWJpbG l0eTogVGhl IFdTRSBwbG FjZXMgYSBz dHJvbmcgZW 1waGFzaXMg b24gcHJvbW 90aW5nIHN1 c3RhaW5hYm xlIHByYWN0 aWNlcyBhbW 9uZyBsaXN0 ZWQgY29tcG FuaWVzLCBl bmNvdXJhZ2 luZyB0aGVt IHRvIGRpc2 Nsb3NlIGlu Zm9ybWF0aW 9uIG9uIGVu dmlyb25tZW 50YWwsIHNv Y2lhbCwgYW 5kIGdvdmVy bmFuY2UgKE VTRykgZmFj dG9ycy4gVG hpcyBoYXMg bWFkZSBpdC BhbiBhdHRy YWN0aXZlIG Rlc3RpbmF0 aW9uIGZvci BpbnZlc3Rv cnMgc2Vla2 luZyByZXNw b25zaWJsZS BpbnZlc3Rt ZW50IG9wcG 9ydHVuaXRp ZXMuPGJyPj cuIFN0cmF0 ZWdpYyBwYX J0bmVyc2hp cHM6IFRoZS BXU0UgaGFz IGVzdGFibG lzaGVkIHBh cnRuZXJzaG lwcyB3aXRo IG90aGVyIG xlYWRpbmcg ZXhjaGFuZ2 VzIGdsb2Jh bGx5LCBzdW NoIGFzIHRo ZSBMb25kb2 4gU3RvY2sg RXhjaGFuZ2 UgYW5kIE5h c2RhcSwgdG 8gb2ZmZXIg aW52ZXN0b3 JzIGFjY2Vz cyB0byBhIG Jyb2FkZXIg cmFuZ2Ugb2 YgcHJvZHVj dHMgYW5kIH NlcnZpY2Vz LiBUaGlzIG hhcyBmdXJ0 aGVyIGVuaG FuY2VkIGl0 cyBwb3NpdG lvbiBhcyBh IHJlZ2lvbm FsIGxlYWRl ciBpbiB0aG UgZmluYW5j aWFsIG1hcm tldHMu

VGhlIFdhcn NhdyBTdG9j ayBFeGNoYW 5nZSAoV1NF KSBpcyBhIG ZpbmFuY2lh bCBpbnN0aX R1dGlvbiB0 aGF0IHNlcn ZlcyBhcyB0 aGUgcHJpbW FyeSBzdG9j ayBleGNoYW 5nZSBpbiBQ b2xhbmQuIF RoZSBjb21w YW55J3MgYn VzaW5lc3Mg bW9kZWwgaX MgcHJpbWFy aWx5IGJhc2 VkIG9uIGNy ZWF0aW5nIG FuZCBtYWlu dGFpbmluZy BhIHBsYXRm b3JtIGZvci BidXlpbmcg YW5kIHNlbG xpbmcgc2Vj dXJpdGllcy wgaW5jbHVk aW5nIHN0b2 NrcywgYm9u ZHMsIGludm VzdG1lbnQg Y2VydGlmaW NhdGVzLCBh bmQgb3RoZX IgZmluYW5j aWFsIGluc3 RydW1lbnRz Ljxicj5UaG UgV1NFIGdl bmVyYXRlcy ByZXZlbnVl IHRocm91Z2 ggdmFyaW91 cyBzZXJ2aW NlcywgaW5j bHVkaW5nIG xpc3Rpbmcg ZmVlcywgdH JhbnNhY3Rp b24gZmVlcy wgYW5kIG1h cmtldCBkYX RhIHNlcnZp Y2VzLiBDb2 1wYW5pZXMg bG9va2luZy B0byBnbyBw dWJsaWMgbX VzdCBwYXkg YSBsaXN0aW 5nIGZlZSB0 byBiZSBpbm NsdWRlZCBv biB0aGUgZX hjaGFuZ2Us IGFuZCB0aG V5IGFsc28g cGF5IHllYX JseSBsaXN0 aW5nIG1haW 50ZW5hbmNl IGZlZXMuPG JyPlRoZSBl eGNoYW5nZS BhbHNvIGVh cm5zIHJldm VudWUgZnJv bSB0cmFuc2 FjdGlvbiBm ZWVzLCB3aG ljaCBhcmUg Y2hhcmdlZC B0byBicm9r ZXJzIGZvci BldmVyeSB0 cmFkZSBtYW RlIG9uIHRo ZSBXU0UgcG xhdGZvcm0u IE1hcmtldC BkYXRhIHNl cnZpY2VzLC BzdWNoIGFz IHJlYWwtdG ltZSBzdG9j ayBxdW90ZX MsIGFyZSBh bHNvIGF2YW lsYWJsZSBm b3IgYSBmZW UgdG8gdHJh ZGVycyBhbm QgaW52ZXN0 b3JzLjxicj 5JbiBhZGRp dGlvbiB0by BpdHMgcHJp bWFyeSByb2 xlIGFzIGEg c3RvY2sgZX hjaGFuZ2Us IHRoZSBXU0 UgYWxzbyBv ZmZlcnMgYS ByYW5nZSBv ZiBvdGhlci BzZXJ2aWNl cywgaW5jbH VkaW5nIHRy YWRpbmcgb2 YgZGVyaXZh dGl2ZSBpbn N0cnVtZW50 cywgY2xlYX JpbmcgYW5k IHNldHRsZW 1lbnQsIGFu ZCBpbmZvcm 1hdGlvbiBh bmQgYW5hbH l0aWNhbCBz ZXJ2aWNlcy 4gVGhlc2Ug c2VydmljZX MgYXJlIGFk ZGl0aW9uYW wgc291cmNl cyBvZiByZX ZlbnVlIGZv ciB0aGUgY2 9tcGFueS48 YnI+T3Zlcm FsbCwgdGhl IFdTRSdzIG J1c2luZXNz IG1vZGVsIG lzIGNlbnRl cmVkIGFyb3 VuZCBwcm92 aWRpbmcgYS BzZWN1cmUg YW5kIHJlZ3 VsYXRlZCBt YXJrZXQgZm 9yIGNvbXBh bmllcyB0by ByYWlzZSBj YXBpdGFsIG FuZCBmb3Ig aW52ZXN0b3 JzIHRvIHRy YWRlIHNlY3 VyaXRpZXMu IEl0cyByZX ZlbnVlIHN0 cmVhbXMgYX JlIHByaW1h cmlseSB0aW VkIHRvIHRo ZSB2b2x1bW UgYW5kIHZh bHVlIG9mIH RyYW5zYWN0 aW9ucyBvbi BpdHMgcGxh dGZvcm0u

AI can pose a material threat to the Warsaw Stock Exchange and its associated companies in several ways:
1. Substitution: AI technologies enable the development of alternative trading platforms and products that can automate trading decisions, analyze market trends, and optimize investment strategies more efficiently than traditional methods. As these AI-driven solutions become more accessible, they could attract traders away from conventional exchanges, potentially undermining the Warsaw Stock Exchange’s market share.
2. Disintermediation: AI’s ability to facilitate direct trading between buyers and sellers can lead to disintermediation. This means that companies may no longer rely on the services of traditional exchanges for transactions, opting instead for decentralized platforms powered by AI algorithms. This shift could erode the traditional roles and fees associated with exchanges, impacting their revenue streams.
3. Margin Pressure: The implementation of AI can lead to increased competition by lowering operational costs for financial services and firms. Enhanced algorithmic trading enabled by AI can drive down trading costs, which could result in pressures on the margins of traditional services offered by the Warsaw Stock Exchange. If competitors leverage AI effectively, they might be able to offer lower fees and better services, potentially reducing the exchange’s profitability.
Overall, the integration and advancement of AI technologies present significant challenges that could disrupt the traditional operational framework of the Warsaw Stock Exchange and necessitate strategic adaptations to remain competitive.

The sensitivity of a company’s earnings, cash flow, and valuation to changes in interest rates can vary significantly based on several factors, including the industry, the company’s capital structure, and its overall financial health.
1. Earnings Sensitivity: Companies with significant amounts of debt are typically more sensitive to interest rate changes because higher interest rates can increase borrowing costs, leading to reduced profit margins. Conversely, companies with low or no debt may be less affected, as their cost of financing remains stable. Additionally, firms in interest-sensitive sectors, such as real estate and utilities, may see more pronounced impacts on their earnings due to changes in demand and financing conditions tied to interest rates.
2. Cash Flow Sensitivity: Cash flow can also be significantly affected by interest rate changes. Higher interest rates can lead to increased interest expenses, impacting cash flows negatively. In contrast, if a company can pass on increased costs to consumers through price increases, it may mitigate the impact on cash flow. Companies that rely heavily on credit for their operations may experience cash flow issues if rates rise, while those with stable cash flows may weather the changes better.
3. Valuation Sensitivity: Valuation, often assessed through discounted cash flow (DCF) models, is directly influenced by interest rates. Higher rates increase the discount rate applied to future cash flows, leading to lower present values and thus, lower valuations. Conversely, lower interest rates reduce the discount rate, increasing valuations. This effect is particularly pronounced in growth companies, which rely on future cash flows for their current valuations. Market sentiment can also shift based on interest rate expectations, influencing stock prices.
In summary, companies listed on the Warsaw Stock Exchange, like those elsewhere, experience varying degrees of sensitivity in earnings, cash flow, and valuation to changes in interest rates. The specific impact depends on their financial structures, the economic environment, and the sectors they operate in.

QSByZWFsaX N0aWMgc2Nl bmFyaW8gdG hhdCBjb3Vs ZCBwZXJtYW 5lbnRseSBp bXBhaXIgdG hlIGVjb25v bWljcyBvZi B0aGUgV2Fy c2F3IFN0b2 NrIEV4Y2hh bmdlIChXU0 UpIG92ZXIg dGhlIG5leH QgMy01IHll YXJzIGNvdW xkIGludm9s dmUgc2lnbm lmaWNhbnQg cmVndWxhdG 9yeSBjaGFu Z2VzIGNvbW JpbmVkIHdp dGggYSBkb3 dudHVybiBp biB0aGUgYn JvYWRlciBl Y29ub21pYy BlbnZpcm9u bWVudC4gRm 9yIGluc3Rh bmNlLCBpZi B0aGUgRXVy b3BlYW4gVW 5pb24gaW1w bGVtZW50cy BzdHJpY3Qg bmV3IHJlZ3 VsYXRpb25z IG9uIHRyYW RpbmcgcHJh Y3RpY2VzIH RoYXQgaW5j cmVhc2UgY2 9tcGxpYW5j ZSBjb3N0cy BhbmQgbGlt aXQgdHJhZG luZyB2b2x1 bWVzLCBjb2 1iaW5lZCB3 aXRoIGEgcH JvdHJhY3Rl ZCBlY29ub2 1pYyByZWNl c3Npb24gaW 4gUG9sYW5k IGFuZCB0aG Ugc3Vycm91 bmRpbmcgcm VnaW9uLCB0 aGUgV1NFIG NvdWxkIGZh Y2Ugc2VyaW 91cyBjaGFs bGVuZ2VzLj xicj5JbiB0 aGlzIHNjZW 5hcmlvLCB0 aGUgY29tcG FueeKAmXMg bWFyZ2lucy B3b3VsZCBs aWtlbHkgZG VjbGluZSBk dWUgdG8gaW 5jcmVhc2Vk IG9wZXJhdG lvbmFsIGNv c3RzIGFzc2 9jaWF0ZWQg d2l0aCBhZG FwdGluZyB0 byB0aGUgbm V3IHJlZ3Vs YXRvcnkgZW 52aXJvbm1l bnQuIFRoZS BuZWVkIGZv ciBpbnZlc3 RtZW50IGlu IGNvbXBsaW FuY2UgaW5m cmFzdHJ1Y3 R1cmUgY291 bGQgZGl2ZX J0IGZ1bmRz IGF3YXkgZn JvbSBncm93 dGggaW5pdG lhdGl2ZXMu IEZ1cnRoZX Jtb3JlLCBh IGRvd250dX JuIGluIHRy YWRpbmcgdm 9sdW1lIGFz IGludmVzdG 9ycyBmbGVl IHRvIHNhZm VyIGhhdmVu cyBjb3VsZC BsZWFkIHRv IGxvd2VyIH RyYW5zYWN0 aW9uIGZlZX MgYW5kIHJl ZHVjZWQgcm V2ZW51ZXMs IHNxdWVlem luZyBwcm9m aXQgbWFyZ2 lucyBldmVu IGZ1cnRoZX IuPGJyPkNh c2ggZmxvdy B3b3VsZCBz dWZmZXIgc2 lnbmlmaWNh bnRseSBhcy B0aGUgY29t YmluYXRpb2 4gb2YgcmVk dWNlZCByZX ZlbnVlcyBh bmQgaW5jcm Vhc2VkIGNv c3RzIHdvdW xkIG1ha2Ug aXQgZGlmZm ljdWx0IGZv ciB0aGUgV1 NFIHRvIG1h aW50YWluIG EgaGVhbHRo eSBjYXNoIH Bvc2l0aW9u LiBJZiB0cm FkaW5nIHZv bHVtZXMgcG x1bW1ldCBh bmQgY29tcG xpYW5jZSBj b3N0cyByaX NlLCB0aGUg Y2FzaCBnZW 5lcmF0ZWQg ZnJvbSBvcG VyYXRpb25z IGNvdWxkIH R1cm4gbmVn YXRpdmUsIG ZvcmNpbmcg dGhlIGNvbX BhbnkgdG8g ZGlwIGludG 8gcmVzZXJ2 ZXMgb3IgdG FrZSBvbiBh ZGRpdGlvbm FsIGRlYnQg dG8gbWVldC BpdHMgb2Js aWdhdGlvbn MuPGJyPk9u IHRoZSBiYW xhbmNlIHNo ZWV0LCB0aG VzZSBjaGFs bGVuZ2VzIH dvdWxkIG1h bmlmZXN0IG FzIHJpc2lu ZyBsaWFiaW xpdGllcywg cGFydGljdW xhcmx5IGlm IHRoZSBXU0 UgbmVlZHMg dG8gYm9ycm 93IGZ1bmRz IHRvIGNvdm VyIG9wZXJh dGluZyBjb3 N0cyBvciBp bnZlc3QgaW 4gY29tcGxp YW5jZSBtZW FzdXJlcy4g SWYgY2FzaC BmbG93IHdl YWtlbnMgc2 lnbmlmaWNh bnRseSwgdG hlIGxpcXVp ZGl0eSByYX RpbyBjb3Vs ZCBhbHNvIG RlY2xpbmUs IGhpZ2hsaW dodGluZyBz aG9ydC10ZX JtIHNvbHZl bmN5IGlzc3 Vlcy4gTG9u Zy10ZXJtLC B0aGUgY29t cGFueSBtaW dodCBzZWUg YSBkZXByZW NpYXRpb24g aW4gaXRzIG Fzc2V0IHZh bHVlcywgZX NwZWNpYWxs eSBpZiBpdC BpbnZlc3Rz IGhlYXZpbH kgaW4gY29t cGxpYW5jZS BpbmZyYXN0 cnVjdHVyZS B0aGF0IGRv ZXMgbm90IH lpZWxkIGEg cmV0dXJuLC BsZWFkaW5n IHRvIGRpbW luaXNoZWQg ZXF1aXR5Lj xicj5PdmVy YWxsLCB0aG lzIHNjZW5h cmlvIHdvdW xkIGNyZWF0 ZSBhIGNoYW xsZW5naW5n IGVudmlyb2 5tZW50IGZv ciB0aGUgV2 Fyc2F3IFN0 b2NrIEV4Y2 hhbmdlLCB3 aGVyZSBkaW 1pbmlzaGVk IHByb2ZpdG FiaWxpdHks IGNhc2ggZm xvdyBjb25z dHJhaW50cy wgYW5kIGEg YnVyZGVuZW QgYmFsYW5j ZSBzaGVldC Bjb3VsZCB0 aHJlYXRlbi BpdHMgbG9u Zy10ZXJtIH ZpYWJpbGl0 eS48YnI+

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 bG9nb3MvVF NHa2lUUVp0 RU1NQ2o1bH ZLSlUud2Vi cCIgYWx0PS JXYXJzYXcg U3RvY2sgRX hjaGFuZ2Ui IHRpdGxlPS JXYXJzYXcg U3RvY2sgRX hjaGFuZ2Ui ICBjbGFzcz 0iaW1nLWZs dWlkIiBoZW lnaHQ9NTAg d2lkdGg9NT AgbG9hZGlu Zz0nbGF6eS cgc3R5bGU9 J2JvcmRlci 1yYWRpdXM6 IDZweDsnPg oKICAgICAg ICAgICAgIC AgICAgICA8 ZGl2IHN0eW xlPSdmbGV4 OiAxOyB0ZX h0LWFsaWdu OiBjZW50ZX I7IG1hcmdp bi1sZWZ0Oi A1cHg7Jz4K ICAgICAgIC AgICAgICAg ICAgICAgIC AgPHAgc3R5 bGU9J2Zvbn Qtc2l6ZTog MjZweDsgY2 9sb3I6ICMz MzM7IG1hcm dpbi1ib3R0 b206IDE1cH g7Jz4KICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIPCfk4gg V2FudCB0by ByZWFkIG1v cmUgYWJvdX QgV2Fyc2F3 IFN0b2NrIE V4Y2hhbmdl PwogICAgIC AgICAgICAg ICAgICAgIC AgICA8L3A+ CgogICAgIC AgICAgICAg ICAgICAgIC AgICA8YSBo cmVmPSdpbm RleC5waHA/ cGFnZT1zaW dudXAnIHN0 eWxlPScKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIGJhY2 tncm91bmQt Y29sb3I6IC MwMDdCRkY7 CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBj b2xvcjogI2 ZmZjsKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIHBhZGRp bmc6IDEwcH ggMjBweDsK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIGJv cmRlci1yYW RpdXM6IDVw eDsKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IHRleHQtZG Vjb3JhdGlv bjogbm9uZT sKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIG ZvbnQtd2Vp Z2h0OiBib2 xkOwogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgbWFyZ2lu LXJpZ2h0Oi AxMHB4Owog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgdHJh bnNpdGlvbj ogYmFja2dy b3VuZC1jb2 xvciAwLjNz IGVhc2U7Jw ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgb2 5tb3VzZW92 ZXI9J3RoaX Muc3R5bGUu YmFja2dyb3 VuZENvbG9y PSIjMDA1Nm IzIicKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIG9ubW91 c2VvdXQ9J3 RoaXMuc3R5 bGUuYmFja2 dyb3VuZENv bG9yPSIjMD A3QkZGIic+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBT aWduIHVwIG ZvciBmcmVl CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDwvYT4K CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDxzcGFu IHN0eWxlPS dtYXJnaW46 IDAgOHB4Oy Bjb2xvcjog IzU1NTsnPm 9yPC9zcGFu PgoKICAgIC AgICAgICAg ICAgICAgIC AgICAgPGEg aHJlZj0naW 5kZXgucGhw P3BhZ2U9bG 9naW4nIHN0 eWxlPScKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIGNvbG 9yOiAjMDA3 QkZGOwogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgdGV4dC 1kZWNvcmF0 aW9uOiB1bm RlcmxpbmU7 CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBm b250LXdlaW dodDogNTAw Oyc+CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBsb2cgaW 4KICAgICAg ICAgICAgIC AgICAgICAg ICAgPC9hPg oKCiAgICAg ICAgICAgIC AgICAgICAg ICAgIDxwIH N0eWxlPSdt YXJnaW4tdG 9wOiAxNXB4 OyBmb250LX NpemU6IDEz cHg7IGZvbn Qtd2VpZ2h0 OiBib2xkOy Bjb2xvcjog I2QzMmYyZj snPgogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Ag8J+RpSBG cmVlIGVCb2 9rIGZvciBu ZXcgdXNlcn M6IDxpPiJU aGUgQ2hlY2 tsaXN0IFZh bHVlIEludm VzdG9yIOKA lCBBIFNtYX J0ZXIgV2F5 IHRvIFBpY2 sgU3RvY2tz IjwvaT4KIC AgICAgICAg ICAgICAgIC AgICAgICAg PC9wPgoKIC AgICAgICAg ICAgICAgIC AgICAgICAg PCEtLQogIC AgICAgICAg ICAgICAgIC AgICAgICA8 ZGl2IHN0eW xlPSdtYXJn aW4tdG9wOi AxMnB4OyBm b250LXNpem U6IDEzcHg7 IGNvbG9yOi AjNDQ0Oyc+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBT aWduIHVwIG 5vdyBhbmQg Z2V0IG91ci BmcmVlIGVC b29rIAogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgPGI+VG hlIENoZWNr bGlzdCBWYW x1ZSBJbnZl c3RvciDigJ QgQSBTbWFy dGVyIFdheS B0byBQaWNr IFN0b2Nrcz wvYj4KICAg ICAgICAgIC AgICAgICAg ICAgICAgPC 9kaXY+CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC 0tPgogICAg ICAgICAgIC AgICAgICAg ICAgICA8IS 0tCiAgICAg ICAgICAgIC AgICAgICAg ICAgIDxkaX Ygc3R5bGU9 J21hcmdpbi 10b3A6IDE2 cHg7IGZvbn Qtc2l6ZTog MTRweDsgY2 9sb3I6ICM0 NDQ7IGZvbn QtZmFtaWx5 OiAtYXBwbG Utc3lzdGVt LCBCbGlua0 1hY1N5c3Rl bUZvbnQsIF NlZ29lIFVJ LCBSb2JvdG 8sIEhlbHZl dGljYSBOZX VlLCBzYW5z LXNlcmlmOy BsaW5lLWhl aWdodDogMS 42Oyc+CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBIYXZl IHlvdSBoZW FyZCBhYm91 dCBvdXIgc2 hvcnQgPHN0 cm9uZyBzdH lsZT0nZm9u dC13ZWlnaH Q6IDYwMDsn PkRhaWx5IF ZpZGVvIE5l d3NsZXR0ZX I8L3N0cm9u Zz4/CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICA8YSBocm VmPSdodHRw czovL3d3dy 5pbnNpZ2h0 ZnVsdmFsdW UuY29tL25l d3NsZXR0ZX IucGhwJyB0 YXJnZXQ9J1 9ibGFuaycg c3R5bGU9J2 NvbG9yOiAj MDA3QkZGOy B0ZXh0LWRl Y29yYXRpb2 46IG5vbmU7 IGZvbnQtd2 VpZ2h0OiA1 MDA7IG1hcm dpbi1sZWZ0 OiA2cHg7Jz 4KICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBGaW5k IG91dCBtb3 JlCiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC A8L2E+CiAg ICAgICAgIC AgICAgICAg ICAgICAgID wvZGl2Pgog ICAgICAgIC AgICAgICAg ICAgICAgIC AtLT4KICAg ICAgICAgIC AgICAgICAg ICA8L2Rpdj 4KICAgICAg ICAgICAgIC AgIDwvZGl2 PgogICAgIC AgICAgICA8 L2Rpdj4KIC AgICAgICAg ICAgCiAgIC AgICAgCiAg ICAgICAgPH NwYW4gY2xh c3M9J2JsdX JyZWQtdGV4 dCc+CiAgIC AgICAgICAg IE1TNGdWR2 hsSUYgZGhj bk5oZHlCVC BkRzlqYXlC RmVHIE5vWV c1blpTQjMg WVhNZ1ptOT FibSBSbFpD QnBiaUF4IE 9Ua3hJR0Z1 WkMgQnBjeU IwYUdVZyBi R0Z5WjJWem RDIEJ6ZEc5 amF5QmwgZU dOb1lXNW5a UyBCcGJpQk RaVzUwIGNt RnNJR0Z1Wk MgQkZZWE4w WlhKdSBJRV YxY205d1pT IDQ4WW5JK0 1pNGcgVkdo bElHWnBjbi BOMElIUnlZ V1JsIElHOX VJSFJvWlMg QlhZWEp6WV hjZyBVM1J2 WTJzZ1JYIG hqYUdGdVoy VWcgZDJGek lHMWhaRyBV Z2IyNGdRWE J5IGFXd2dN VFlzSUQgRT VPVEVzSUhk cCBkR2dnYj I1c2VTIEF5 TUNCamIyMX cgWVc1cFpY TWdiRyBsem RHVmtMaUE4 IFluSStNeT RnVkcgaGxJ RmRUUlNCMy BZWE1nZEdo bElHIFpwY2 5OMElITjAg YjJOcklHVj RZMiBoaGJt ZGxJR2x1IE lIUm9aU0Iz YjMgSnNaQ0 IwYnlCaiBj bVZoZEdVZ1 lTIEJ0WVhK clpYUWcgYz JWbmJXVnVk QyBCa1pXUn BZMkYwIFpX UWdkRzhnYz IgOWphV0Zz YkhrZyBjbV Z6Y0c5dWMy IGxpYkdVZ2 FXNTIgWlhO MGJXVnVkQy BBb1UxSkpL U0JwIGJpQX lNREF6TGkg QThZbkkrTk M0ZyBRWE1n YjJZZ01qIE F5TVN3Z2RH aGwgSUZkaG NuTmhkeSBC VGRHOWpheU JGIGVHTm9Z VzVuWlMgQm 9ZWE1nYjNa bCBjaUEwTU RBZ1kyIDl0 Y0dGdWFXVn ogSUd4cGMz UmxaQyBCdm JpQnBkSE1n IGJXRnBiaU J0WVggSnJa WFFzSUhkcC BkR2dnWVNC amIyIDFpYV c1bFpDQnQg WVhKclpYUW dZMiBGd2FY UmhiR2w2IF lYUnBiMjRn YjIgWWdiM1 psY2lBeCBM alVnZEhKcG JHIHhwYjI0 Z1pYVnkgYj NNdUlEeGlj aiA0MUxpQl VhR1VnIFYx TkZJSGRoY3 kgQjBhR1Vn Wm1seSBjM1 FnYzNSdlky IHNnWlhoam FHRnUgWjJV Z2FXNGdSWC BWeWIzQmxJ SFJ2IElHbH VkSEp2Wkgg VmpaU0JoSU hSeSBZV1Jw Ym1jZ2FXID VrWlhnZ2FX NGcgTVRrNU 5Dd2dZMiBG c2JHVmtJSF JvIFpTQlhT VWNnS0YgZG hjbk5oZHlC VCBkRzlqYX lCRmVHIE5v WVc1blpTQk ggWlc1bGNt RnNJRSBsdV pHVjRLUzQ4 IFluSStOaT RnU1cgNGdN VGs1T1N3Zy BkR2hsSUZk VFJTIEJzWV hWdVkyaGwg WkNCMGFHVW dUbSBWM1Ey OXVibVZqIG RDQnRZWEpy WlggUXNJR0 ZwYldWayBJ R0YwSUhOdF lXIHhzSUdG dVpDQnQgWl dScGRXMHRj MiBsNlpXUW dZMjl0IGNH RnVhV1Z6SU ggTmxaV3Rw Ym1jZyBZMk Z3YVhSaGJD IHdnYldGcm FXNW4gSUds MElIUm9aUy BCbWFYSnpk Q0J6IGRHOW pheUJsZUcg Tm9ZVzVuWl NCcCBiaUJG ZFhKdmNHIF VnZEc4Z2FH RjIgWlNCaE lITmxjRyBG eVlYUmxJRz FoIGNtdGxk Q0JtYjMgSW dkR2hsYzJV ZyBkSGx3Wl hNZ2IyIFln WTI5dGNHRn UgYVdWekxp QThZbiBJK0 55NGdTVzRn IE1qQXhNeX dnZEcgaGxJ RmRoY25OaC BkeUJUZEc5 amF5IEJGZU dOb1lXNW4g WlNCdFpYSm 5aVyBRZ2Qy bDBhQ0IwIG FHVWdWbWxs Ym0gNWhJRk 4wYjJOciBJ RVY0WTJoaG JtIGRsSUdG dVpDQjAgYU dVZ1FuVmtZ WCBCbGMzUW dVM1J2IFky c2dSWGhqYU cgRnVaMlVn ZEc4ZyBabT l5YlNCMGFH IFVnUTBWRk lGTjAgYjJO cklFVjRZMi BoaGJtZGxJ RWR5IGIzVn dMQ0JqY20g VmhkR2x1Wn lCdiBibVVn YjJZZ2RHIG hsSUd4aGNt ZGwgYzNRZ1 pYaGphRyBG dVoyVWdaM0 p2IGRYQnpJ R2x1SUUgVj FjbTl3WlM0 ZyBQR0p5UG pndUlGIFJv WlNCWFUwVW cgYUdGeklH SmxaVyA0Z2 NtVmpiMmR1 IGFYcGxaQ0 JoY3kgQnZi bVVnYjJZZy BkR2hsSUhS dmNDIEJ3Wl hKbWIzSnQg WlhKeklHbH VJSCBSbGNt MXpJRzltIE lFbFFUM01n S0UgbHVhWF JwWVd3ZyBV SFZpYkdsak lFIDltWm1W eWFXNW4gY3 lrZ2FXNGdS WCBWeWIzQm xMQ0IzIGFY Um9JRzkyWl ggSWdNekF3 SUVsUSBUM0 1nYzJsdVky IFVnYVhSek lHbHUgWTJW d2RHbHZiaS BCcGJpQXhP VGt4IExqeG ljajQ1TGkg QlVhR1VnVj JGeSBjMkYz SUZOMGIyIE 5ySUVWNFky aGggYm1kbE lHeGhkVyA1 amFHVmtJR2 wwIGN5Qmxi R1ZqZEggSn ZibWxqSUhS eSBZV1JwYm 1jZ2NHIHho ZEdadmNtMH MgSUZSSFJT QW9WRyA5M1 lYSnZkMkVn IFIybGx4WU prWVMgQkZi bVZ5WjJsaC BLU3dnYVc0 Z01qIEF4TW l3Z1pHVmsg YVdOaGRHVm tJRyBWNFky eDFjMmwyIF pXeDVJSFJ2 SUcgVnNaV0 4wY21saiBh WFI1SUhSeV lXIFJwYm1j dUlEeGkgY2 o0eE1DNGdT VyA0Z01qQX hPU3dnIGRH aGxJRmRUUl MgQmlaV2Ro YmlCMCBjbU ZrYVc1bklH IGx1SUhOMW MzUmggYVc1 aFltbHNhWC BSNUlHWjFk SFZ5IFpYTX NJR0psWTIg OXRhVzVuSU hSbyBaU0Jt YVhKemRDIE J6ZEc5amF5 QmwgZUdOb1 lXNW5aUyBC cGJpQjBhR1 VnIGQyOXli R1FnZEcgOG diMlptWlhJ ZyBkR2hwY3 lCMGVYIEJs SUc5bUlHWn AgYm1GdVky bGhiQyBCcG JuTjBjblZ0 IFpXNTBMan hpY2ogNHhN UzRnU1c0Zy BNakF5TUN3 Z2RHIGhsSU ZkaGNuTmgg ZHlCVGRHOW pheSBCRmVH Tm9ZVzVuIF pTQnNhWE4w WlcgUWdhWF J6SUdacCBj bk4wSUVObG NuIFJwWm1s bFpDQkggY2 1WbGJpQkNi MiA1a0xDQm 1kWEowIGFH VnlJSEJ5Yj IgMXZkR2x1 WnlCeiBkWE 4wWVdsdVlX IEpzWlNCcG JuWmwgYzNS dFpXNTBjeS A0Z1BHSnlQ akV5IExpQl VhR1VnVjEg TkZJR2hoY3 lCaSBaV1Z1 SUdOdmJuIE 5wYzNSbGJu UnMgZVNCeV pXTnZaMiA1 cGVtVmtJR1 p2IGNpQnBk SE1nYVcgNX ViM1poZEds diBiaUJoYm 1RZ2RHIFZq YUc1dmJHOW 4gZVN3Z2Qy bHVibSBsdV p5QmhkMkZ5 IFpITWdjM1 ZqYUMgQmhj eUIwYUdVZy A0b0NaUW1W emRDIEJVWl dOb2JtOXMg YjJkNUlFbH VhWCBScFlY UnBkbVhpIG dKa2dZWGRo Y20gUWdZWF FnZEdobCBJ RmR2Y214a0 lFIFY0WTJo aGJtZGwgY3 lCRGIyNW5j bSBWemN5Qn BiaUF5IE1E RTJJR0Z1Wk MgRGlnSmxO YjNOMCBJRW x1Ym05MllY IFJwZG1VZ1 JYaGogYUdG dVoyVnpJRi BSbFkyaHVi Mnh2IFoza2 dNakF4T08g S0FtU0JpZV NCRCBSa2t1 WTI4dVBHIE p5UGpFekxp QlUgYUdVZ1 YyRnljMiBG M0lGTjBiMk 5yIElFVjRZ MmhoYm0gZG xJR2hoY3lC aiBiMnhzWV dKdmNtIEYw WldRZ2QybD AgYUNCdmRH aGxjaSBCdF lXcHZjaUJG IGRYSnZjR1 ZoYmkgQnpk RzlqYXlCbC BlR05vWVc1 blpYIE1zSU hOMVkyZ2cg WVhNZ1JYVn liMiA1bGVI UWdZVzVrIE lFUmxkWFJ6 WTIgaGxJRU xEdG5KeiBa U3dnZEc4Z1 pHIFYyWld4 dmNDQmggSU dOdmJXMXZi aSBCMGNtRm thVzVuIElI QnNZWFJtYj MgSnRJR1p2 Y2lCRiBkWE p2Y0dWaGJp IEJ0WVhKcl pYUnogTGlB OFluSStNVC BRdUlGUm9a U0JYIFUwVW dhWE1nWVcg eHpieUJyYm 05MyBiaUJt YjNJZ2FYIF J6SUhOMGNt OXUgWnlCam IzSndiMyBK aGRHVWdaMj kyIFpYSnVZ VzVqWlMgQn djbUZqZEds aiBaWE1zSU dKbGFXIDVu SUhSb1pTQm 0gYVhKemRD QnpkRyA5am F5QmxlR05v IFlXNW5aU0 JwYmkgQjBh R1VnZDI5eS BiR1FnZEc4 Z1kzIEpsWV hSbElHRWcg UTI5eWNHOX lZWCBSbElF ZHZkbVZ5IG JtRnVZMlVn U1cgNWtaWG dnYVc0ZyBN akF3TlM0OF luIEkrTVRV dUlFbHUgSU RJd01qRXNJ SCBSb1pTQl hZWEp6IFlY Y2dVM1J2WT Igc2dSWGhq YUdGdSBaMl VnWTJoaGJt IGRsWkNCcG RITWcgYm1G dFpTQjBieS BCMGFHVWdS MUJYIElDaE hhV1hGZ20g UmhJRkJoY0 dsbCBjc096 ZHlCWFlYIE owYjhXYlky bHYgZDNsam FDQjNJRiBk aGNuTjZZWG RwIFpTa2dk RzhnWW0gVj BkR1Z5SUhK bCBabXhsWT NRZ2FYIFJ6 SUdsdWRHVn kgYm1GMGFX OXVZVyB3Z2 NISmxjMlZ1 IFkyVWdZVz VrSUcgSnlZ VzVrTGc9PQ ogICAgICAg IDwvc3Bhbj 4KICAgICAg ICAKICAgIC AgICA=