Ritchie Bros. Auctioneers

Live  

RB Global is a multinational consumer goods company headquartered in Slough, England. It was founded in 1823 as a small pharmacy in Hull, England, and has since grown into a global leader in the health and hygiene industry. The company is known for its popular brands such as Lysol, Dettol, Finish, and Clearasil. RB Global operates in over 60 countries and employs over 40,000 people worldwide.
RB Global’s business is divided into two main segments: Health and Hygiene Home. The Health segment includes products for personal health, wellness, and hygiene, such as antiseptics, antibacterial soaps, and supplements. The Hygiene Home segment includes products for household cleaning and disinfection, such as surface cleaners, air fresheners, and laundry detergents.
The company’s mission is to make a difference by giving people innovative solutions for healthier lives and happier homes. RB Global is committed to sustainability and has set ambitious goals to reduce its environmental impact and promote social responsibility.
RB Global is a publicly traded company listed on the London Stock Exchange and is a constituent of the FTSE 100 index. It has a diverse and experienced leadership team, led by CEO Laxman Narasimhan.
In addition to its business operations, RB Global also has a strong philanthropic presence through its RB Foundation, which supports health and hygiene initiatives around the world.

MS4gR2xvYm FsIFByZXNl bmNlOiBSaX RjaGllIEJy b3MuIGhhcy BhIGdsb2Jh bCBwcmVzZW 5jZSB3aXRo IG9wZXJhdG lvbnMgaW4g b3ZlciAyNS Bjb3VudHJp ZXMgYW5kIH RoZSBhYmls aXR5IHRvIG NvbmR1Y3Qg YXVjdGlvbn MgaW4gbXVs dGlwbGUgbG FuZ3VhZ2Vz LCBhbGxvd2 luZyB0aGVt IHRvIHJlYW NoIGEgd2lk ZXIgYXVkaW VuY2UgYW5k IG9mZmVyIG EgZGl2ZXJz ZSByYW5nZS BvZiBlcXVp cG1lbnQuPG JyPjIuIFRy dXN0ZWQgUm VwdXRhdGlv bjogV2l0aC Btb3JlIHRo YW4gNjAgeW VhcnMgaW4g dGhlIGF1Y3 Rpb24gYnVz aW5lc3MsIF JpdGNoaWUg QnJvcy4gaG FzIGJ1aWx0 IGEgcmVwdX RhdGlvbiBm b3IgYmVpbm cgYSByZWxp YWJsZSBhbm QgdHJ1c3Rl ZCBzb3VyY2 UgZm9yIGJ1 eWluZyBhbm Qgc2VsbGlu ZyBlcXVpcG 1lbnQuIFRo aXMgaGFzIG xlZCB0byBh IGxhcmdlIG xveWFsIGN1 c3RvbWVyIG Jhc2UgYW5k IGhpZ2ggbG V2ZWxzIG9m IGN1c3RvbW VyIHNhdGlz ZmFjdGlvbi 48YnI+My4g SW5ub3ZhdG l2ZSBUZWNo bm9sb2d5Oi BUaGUgY29t cGFueSBoYX MgYSBzdHJv bmcgZm9jdX Mgb24gdGVj aG5vbG9neS BhbmQgaGFz IGRldmVsb3 BlZCBudW1l cm91cyBvbm xpbmUgdG9v bHMgYW5kIH BsYXRmb3Jt cyB0byBlbm hhbmNlIHRo ZSBhdWN0aW 9uIGV4cGVy aWVuY2UgZm 9yIGJvdGgg YnV5ZXJzIG FuZCBzZWxs ZXJzLiBUaG lzIGluY2x1 ZGVzIHJlYW wtdGltZSBi aWRkaW5nLC BvbmxpbmUg aW52ZW50b3 J5IG1hbmFn ZW1lbnQsIG FuZCB2aXJ0 dWFsIGVxdW lwbWVudCBp bnNwZWN0aW 9ucy48YnI+ NC4gRXh0ZW 5zaXZlIElu dmVudG9yeT ogUml0Y2hp ZSBCcm9zLi BoYXMgb25l IG9mIHRoZS BsYXJnZXN0 IGludmVudG 9yaWVzIG9m IHVzZWQgYW 5kIHVudXNl ZCBlcXVpcG 1lbnQgaW4g dGhlIHdvcm xkLCBtYWtp bmcgaXQgYS BvbmUtc3Rv cC1zaG9wIG ZvciBidXll cnMgbG9va2 luZyBmb3Ig YSB3aWRlIH JhbmdlIG9m IGVxdWlwbW VudC48YnI+ NS4gQ29tcH JlaGVuc2l2 ZSBTZXJ2aW NlczogSW4g YWRkaXRpb2 4gdG8gdHJh ZGl0aW9uYW wgYXVjdGlv bnMsIHRoZS Bjb21wYW55 IGFsc28gb2 ZmZXJzIGEg cmFuZ2Ugb2 Ygc2Vydmlj ZXMgc3VjaC BhcyBmaW5h bmNpbmcsIG VxdWlwbWVu dCBpbnNwZW N0aW9ucywg YW5kIHRyYW 5zcG9ydGF0 aW9uLCBwcm 92aWRpbmcg YSBjb21wbG V0ZSBlbmQt dG8tZW5kIH NvbHV0aW9u IGZvciB0aG VpciBjdXN0 b21lcnMuPG JyPjYuIFN1 c3RhaW5hYm lsaXR5IElu aXRpYXRpdm VzOiBSaXRj aGllIEJyb3 MuIGlzIGNv bW1pdHRlZC B0byBwcm9t b3Rpbmcgc3 VzdGFpbmFi bGUgYnVzaW 5lc3MgcHJh Y3RpY2VzIG FuZCBoYXMg ZGV2ZWxvcG VkIHByb2dy YW1zIHRvIH JlZHVjZSB3 YXN0ZSBhbm QgcHJvbW90 ZSByZXVzYW JpbGl0eSBv ZiBlcXVpcG 1lbnQsIG1p bmltaXppbm cgaXRzIGlt cGFjdCBvbi B0aGUgZW52 aXJvbm1lbn QuPGJyPjcu IENvcnBvcm F0ZSBTb2Np YWwgUmVzcG 9uc2liaWxp dHk6IFRoZS Bjb21wYW55 IGhhcyBhIH N0cm9uZyBm b2N1cyBvbi BnaXZpbmcg YmFjayB0by B0aGUgY29t bXVuaXR5IH Rocm91Z2gg dmFyaW91cy BwaGlsYW50 aHJvcGljIG luaXRpYXRp dmVzLCBzdW NoIGFzIHN1 cHBvcnRpbm cgbG9jYWwg Y2hhcml0aW VzIGFuZCBk aXNhc3Rlci ByZWxpZWYg ZWZmb3J0cy 4gPGJyPg==

Uml0Y2hpZS BCcm9zLiBB dWN0aW9uZW VycyBpcyBh IGxlYWRpbm cgaW5kdXN0 cmlhbCBhdW N0aW9uZWVy LCBzcGVjaW FsaXppbmcg aW4gdGhlIH NhbGUgb2Yg dXNlZCBhbm QgdW51c2Vk IGhlYXZ5IG VxdWlwbWVu dCBhbmQgb3 RoZXIgYXNz ZXRzIHRocm 91Z2ggbGl2 ZSB1bnJlc2 VydmVkIHB1 YmxpYyBhdW N0aW9ucywg b25saW5lIG F1Y3Rpb25z LCBhbmQgcH JpdmF0ZSBu ZWdvdGlhdG VkIHNhbGVz LiBUaGUgY2 9tcGFueeKA mXMgYnVzaW 5lc3MgbW9k ZWwgaXMgYm FzZWQgb24g cHJvY3VyaW 5nIGNvbnNp Z25tZW50cy BkaXJlY3Rs eSBmcm9tIG VxdWlwbWVu dCBvd25lcn MsIHNlbGxl cnMsIGFuZC BidXllcnMs IGFuZCBmYW NpbGl0YXRp bmcgdGhlIH NhbGUgb2Yg dGhlc2UgYX NzZXRzIHRo cm91Z2ggaX RzIGF1Y3Rp b24gcGxhdG Zvcm0uIDxi cj5UaGUgY2 9tcGFueeKA mXMga2V5IG J1c2luZXNz IGFjdGl2aX RpZXMgaW5j bHVkZSBtYX JrZXRpbmcg YW5kIGFkdm VydGlzaW5n IHRvIGF0dH JhY3QgY29u c2lnbm1lbn RzLCBjb25k dWN0aW5nIG luc3BlY3Rp b25zIGFuZC B2YWx1YXRp b25zIG9mIG Fzc2V0cywg b3JnYW5pem luZyBhbmQg cHJvbW90aW 5nIGF1Y3Rp b25zLCBwcm 92aWRpbmcg ZmluYW5jaW 5nIGFuZCBw YXltZW50IG 1hbmFnZW1l bnQgc2Vydm ljZXMsIGhh bmRsaW5nIG xvZ2lzdGlj cyBhbmQgdH JhbnNwb3J0 YXRpb24gb2 YgZXF1aXBt ZW50LCBhbm QgcHJvdmlk aW5nIHBvc3 Qtc2FsZSBz ZXJ2aWNlcy BzdWNoIGFz IHRpdGxlIH RyYW5zZmVy cyBhbmQgZX F1aXBtZW50 IHRyYWNraW 5nLiA8YnI+ Uml0Y2hpZS BCcm9zLiBv cGVyYXRlcy BvbiBhIGNv bW1pc3Npb2 4tYmFzZWQg bW9kZWwsIH doZXJlIGl0 IGVhcm5zIG EgcGVyY2Vu dGFnZSBvZi B0aGUgZmlu YWwgc2FsZS BwcmljZSBv ZiBlYWNoIG Fzc2V0IHNv bGQgYXQgYW 4gYXVjdGlv bi4gVGhpcy BpbmNlbnRp dml6ZXMgdG hlIGNvbXBh bnkgdG8gc2 VjdXJlIGhp Z2ggdm9sdW 1lcyBvZiBx dWFsaXR5IG Fzc2V0cyBh bmQgYXR0cm FjdCBhIGxh cmdlIG51bW JlciBvZiBi dXllcnMgdG 8gaXRzIGF1 Y3Rpb25zLi A8YnI+SW4g YWRkaXRpb2 4gdG8gaXRz IGNvcmUgYn VzaW5lc3Mg b2YgZXF1aX BtZW50IGF1 Y3Rpb25zLC BSaXRjaGll IEJyb3MuIG Fsc28gb2Zm ZXJzIGVxdW lwbWVudCBh cHByYWlzYW wgc2Vydmlj ZXMsIGVxdW lwbWVudCBm aW5hbmNpbm csIGFuZCBp bnN1cmFuY2 Ugc2Vydmlj ZXMsIGV4cG FuZGluZyBp dHMgcmV2ZW 51ZSBzdHJl YW1zIGFuZC Bwcm92aWRp bmcgYSBvbm Utc3RvcC1z aG9wIGZvci BpdHMgY3Vz dG9tZXJzLi A8YnI+VGhl IGNvbXBhbn kgYWxzbyB1 dGlsaXplcy BhZHZhbmNl ZCB0ZWNobm 9sb2d5IGFu ZCBkYXRhIG FuYWx5dGlj cyB0byBzdH JlYW1saW5l IGl0cyBhdW N0aW9uIHBy b2Nlc3Nlcy BhbmQgcHJv dmlkZSBjdX N0b21lcnMg d2l0aCByZW FsLXRpbWUg YWNjZXNzIH RvIGluZm9y bWF0aW9uLC BjcmVhdGlu ZyBhIHRyYW 5zcGFyZW50 IGFuZCBlZm ZpY2llbnQg bWFya2V0cG xhY2UgZm9y IGJ1eWluZy BhbmQgc2Vs bGluZyBlcX VpcG1lbnQu

Ritchie Bros. Auctioneers’ earnings, cash flow, and valuation can be sensitive to changes in interest rates in several ways:
1. Cost of Capital: Changes in interest rates can affect the company’s cost of debt. If interest rates rise, borrowing costs increase, which can reduce net income if the company takes on new debt for acquisitions or operations. Higher interest expenses can lead to lower earnings and cash flow.
2. Valuation Impact: Ritchie Bros.’ valuation is often influenced by discount rates used in financial modeling. An increase in interest rates results in higher discount rates, which can lead to a lower present value of future cash flows, thus impacting the company’s overall valuation negatively.
3. Consumer Demand: Higher interest rates can lead to higher financing costs for customers looking to purchase equipment. This could dampen demand for auctions and services offered by Ritchie Bros., potentially decreasing revenues and cash flow. If customers have to pay more for financing, they may be less inclined to purchase high-ticket items, which are typically reliant on financing options.
4. Economic Indicators: Rates influence overall economic conditions, impacting industries that rely on Ritchie Bros.’ services. If interest rate hikes lead to an economic slowdown, it could result in decreased auction activity and lower sales.
5. Investment in Growth: If the company relies on borrowing to finance growth initiatives, increased interest rates may impede such investments. This could result in slower expansion, affecting future revenue and cash flow.
Overall, while Ritchie Bros. Auctioneers can be affected by changes in interest rates, the extent of this sensitivity depends on various factors, including its leverage position, market conditions, and operational strategies.

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 bG9nb3MvYk 4xZzJ1bkRm YzFnT3l2bl kzcWcud2Vi cCIgYWx0PS JSaXRjaGll IEJyb3MuIE F1Y3Rpb25l ZXJzIiB0aX RsZT0iUml0 Y2hpZSBCcm 9zLiBBdWN0 aW9uZWVycy IgIGNsYXNz PSJpbWctZm x1aWQiIGhl aWdodD05MC B3aWR0aD05 MCBsb2FkaW 5nPSdsYXp5 JyBzdHlsZT 0nYm9yZGVy LXJhZGl1cz ogNnB4Oyc+ CgogICAgIC AgICAgICAg ICAgICAgID xkaXYgc3R5 bGU9J2ZsZX g6IDE7IHRl eHQtYWxpZ2 46IGNlbnRl cjsgbWFyZ2 luLWxlZnQ6 IDVweDsnPg ogICAgICAg ICAgICAgIC AgICAgICAg ICA8cCBzdH lsZT0nZm9u dC1zaXplOi AyNnB4OyBj b2xvcjogIz MzMzsgbWFy Z2luLWJvdH RvbTogMTVw eDsnPgogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAg8J+TiC BXYW50IHRv IHJlYWQgbW 9yZSBhYm91 dCBSaXRjaG llIEJyb3Mu IEF1Y3Rpb2 5lZXJzPwog ICAgICAgIC AgICAgICAg ICAgICAgIC A8L3A+Cgog ICAgICAgIC AgICAgICAg ICAgICAgIC A8YSBocmVm PSdpbmRleC 5waHA/cGFn ZT1zaWdudX AnIHN0eWxl PScKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IGJhY2tncm 91bmQtY29s b3I6ICMwMD dCRkY7CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBjb2xv cjogI2ZmZj sKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIH BhZGRpbmc6 IDEwcHggMj BweDsKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIGJvcmRl ci1yYWRpdX M6IDVweDsK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIHRl eHQtZGVjb3 JhdGlvbjog bm9uZTsKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIGZvbn Qtd2VpZ2h0 OiBib2xkOw ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgbW FyZ2luLXJp Z2h0OiAxMH B4OwogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgdHJhbnNp dGlvbjogYm Fja2dyb3Vu ZC1jb2xvci AwLjNzIGVh c2U7JwogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgb25tb3 VzZW92ZXI9 J3RoaXMuc3 R5bGUuYmFj a2dyb3VuZE NvbG9yPSIj MDA1NmIzIi cKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIG 9ubW91c2Vv dXQ9J3RoaX Muc3R5bGUu YmFja2dyb3 VuZENvbG9y PSIjMDA3Qk ZGIic+CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBTaWdu IHVwIGZvci BmcmVlCiAg ICAgICAgIC AgICAgICAg ICAgICAgID wvYT4KCiAg ICAgICAgIC AgICAgICAg ICAgICAgID xzcGFuIHN0 eWxlPSdtYX JnaW46IDAg OHB4OyBjb2 xvcjogIzU1 NTsnPm9yPC 9zcGFuPgoK ICAgICAgIC AgICAgICAg ICAgICAgIC AgPGEgaHJl Zj0naW5kZX gucGhwP3Bh Z2U9bG9naW 4nIHN0eWxl PScKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IGNvbG9yOi AjMDA3QkZG OwogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg dGV4dC1kZW NvcmF0aW9u OiB1bmRlcm xpbmU7CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBmb250 LXdlaWdodD ogNTAwOyc+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBs b2cgaW4KIC AgICAgICAg ICAgICAgIC AgICAgICAg PC9hPgoKCi AgICAgICAg ICAgICAgIC AgICAgICAg IDxwIHN0eW xlPSdtYXJn aW4tdG9wOi AxNXB4OyBm b250LXNpem U6IDEzcHg7 IGZvbnQtd2 VpZ2h0OiBi b2xkOyBjb2 xvcjogI2Qz MmYyZjsnPg ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAg8J +agCBEb27i gJl0IG1pc3 MgPGk+IlRo ZSBDaGVja2 xpc3QgVmFs dWUgSW52ZX N0b3Ig4oCU IEEgU21hcn RlciBXYXkg dG8gUGljay BTdG9ja3Mi PC9pPiDigJ QgZnJlZSEK ICAgICAgIC AgICAgICAg ICAgICAgIC AgPC9wPgoK ICAgICAgIC AgICAgICAg ICAgICAgIC AgPCEtLQog ICAgICAgIC AgICAgICAg ICAgICAgIC A8ZGl2IHN0 eWxlPSdtYX JnaW4tdG9w OiAxMnB4Oy Bmb250LXNp emU6IDEzcH g7IGNvbG9y OiAjNDQ0Oy c+CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC BTaWduIHVw IG5vdyBhbm QgZ2V0IG91 ciBmcmVlIG VCb29rIAog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgPGI+ VGhlIENoZW NrbGlzdCBW YWx1ZSBJbn Zlc3RvciDi gJQgQSBTbW FydGVyIFdh eSB0byBQaW NrIFN0b2Nr czwvYj4KIC AgICAgICAg ICAgICAgIC AgICAgICAg PC9kaXY+Ci AgICAgICAg ICAgICAgIC AgICAgICAg IC0tPgogIC AgICAgICAg ICAgICAgIC AgICAgICA8 IS0tCiAgIC AgICAgICAg ICAgICAgIC AgICAgIDxk aXYgc3R5bG U9J21hcmdp bi10b3A6ID E2cHg7IGZv bnQtc2l6ZT ogMTRweDsg Y29sb3I6IC M0NDQ7IGZv bnQtZmFtaW x5OiAtYXBw bGUtc3lzdG VtLCBCbGlu a01hY1N5c3 RlbUZvbnQs IFNlZ29lIF VJLCBSb2Jv dG8sIEhlbH ZldGljYSBO ZXVlLCBzYW 5zLXNlcmlm OyBsaW5lLW hlaWdodDog MS42Oyc+Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBIYX ZlIHlvdSBo ZWFyZCBhYm 91dCBvdXIg c2hvcnQgPH N0cm9uZyBz dHlsZT0nZm 9udC13ZWln aHQ6IDYwMD snPkRhaWx5 IFZpZGVvIE 5ld3NsZXR0 ZXI8L3N0cm 9uZz4/CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICA8YSBo cmVmPSdodH RwczovL3d3 dy5pbnNpZ2 h0ZnVsdmFs dWUuY29tL2 5ld3NsZXR0 ZXIucGhwJy B0YXJnZXQ9 J19ibGFuay cgc3R5bGU9 J2NvbG9yOi AjMDA3QkZG OyB0ZXh0LW RlY29yYXRp b246IG5vbm U7IGZvbnQt d2VpZ2h0Oi A1MDA7IG1h cmdpbi1sZW Z0OiA2cHg7 Jz4KICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBGaW 5kIG91dCBt b3JlCiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICA8L2E+Ci AgICAgICAg ICAgICAgIC AgICAgICAg IDwvZGl2Pg ogICAgICAg ICAgICAgIC AgICAgICAg ICAtLT4KIC AgICAgICAg ICAgICAgIC AgICA8L2Rp dj4KICAgIC AgICAgICAg ICAgIDwvZG l2PgogICAg ICAgICAgIC A8L2Rpdj4K ICAgICAgIC AgICAgCiAg ICAgICAgCi AgICAgICAg PHNwYW4gY2 xhc3M9J2Js dXJyZWQtdG V4dCc+CiAg ICAgICAgIC AgIE1TNGdW R2hsSUcgTn ZiWEJoYm5r ZyBkMkZ6SU dadmRXIDVr WldRZ2FXNG cgTVRrMU9D QmllUyBCRV lYWnBaQ0JG IFpIZGhjbV FnVW0gbDBZ MmhwWlN3Zy BkMmh2SUhC MWNtIE5vWV hObFpDQmgg SUhOdFlXeH NJRyAxaFky aHBibVZ5IG VTQmhkV04w YVcgOXVJR0 oxYzJsdSBa WE56SUdsdU lFIHRsYkc5 M2JtRXMgSU VKeWFYUnBj MiBnZ1EyOX NkVzFpIGFX RXNJRU5oYm 0gRmtZUzQ4 WW5JKyBNaT RnVkdobElH IFpwY25OME lGSnAgZEdO b2FXVWdRbi BKdmN5NGdZ WFZqIGRHbH ZiaUJtWlcg RjBkWEpsWk NCaCBJSFJ2 ZEdGc0lHID ltSURRZ2RI SmggWTNSdm NuTWdZVyA1 a0lHZHliM0 56IFpXUWdK RElzTUQgQX dManhpY2o0 eiBMaUJVYU dVZ1kyIDl0 Y0dGdWVlS0 EgbVhNZ2FH VmhaSCBGMV lYSjBaWEp6 IElHbHpJR3 h2WTIgRjBa V1FnYVc0Zy BRblZ5Ym1G aWVTIHdnUW 5KcGRHbHog YUNCRGIyeD FiVyBKcFlT d2dZVzVrIE lHaGhjeUEw TUMgQnNiMk 5oZEdsdiBi bk1nZDI5eW JHIFIzYVdS bExqeGkgY2 o0MExpQlNh WCBSamFHbG xJRUp5IGIz TXVJR2x6SU cgdHViM2R1 SUdadiBjaU JwZEhNZ2RX IDV5WlhObG NuWmwgWkNC d2RXSnNhVy BNZ1lYVmpk R2x2IGJuTX NJSGRvWlgg SmxJR1YyWl hKNSBJR2ww WlcwZ2FYIE 1nYzI5c1pD QjAgYnlCMG FHVWdhRyBs bmFHVnpkQ0 JpIGFXUmta WElnZDIgbD BhQ0J1YnlC dCBhVzVwYl hWdElHIEpw WkhNZ2IzSW cgY21WelpY SjJaUyBCd2 NtbGpaWE11 IFBHSnlQal V1SUYgUm9a U0JqYjIxdy BZVzU1SUdo aGN5IEJ6Yj J4a0lHOTIg WlhJZ0pEVW dZbSBsc2JH bHZiaUIzIG IzSjBhQ0J2 WmkgQmxjWF ZwY0cxbCBi blFnWVc1a0 lHIDkwYUdW eUlHRnogYz JWMGN5QnBi aSBCMGFHVW djR0Z6IGRD QjVaV0Z5TG ogeGljajQy TGlCSiBiaU F4T1RnMkxD IEJTYVhSam FHbGwgSUVK eWIzTXVJRy BKbFkyRnRa U0IwIGFHVW dabWx5YzMg UWdZWFZqZE dsdiBibVZs Y2lCMGJ5IE J2Wm1abGNp QnMgYVhabE lHbHVkRyBW eWJtVjBJR0 pwIFpHUnBi bWNzSUcgRn NiRzkzYVc1 biBJR0oxZV dWeWN5IEIw YnlCaWFXUW cgY21WdGIz UmxiSCBrZ1 puSnZiU0Jo IGJubDNhR1 Z5WlMgQnBi aUIwYUdVZy BkMjl5YkdR dVBHIEp5UG pjdUlFbHUg SURFNU9UZ3 NJSCBSb1pT QmpiMjF3IF lXNTVJR1Y0 Y0cgRnVaR1 ZrSUdKbCBl Vzl1WkNCMG NtIEZrYVhS cGIyNWggYk NCaGRXTjBh VyA5dWN5Qm hibVFnIFlt Vm5ZVzRnYU cgOXNaR2x1 WnlCdiBibX hwYm1VZ1lY IFZqZEdsdm JuTWcgZEdo eWIzVm5hQy BCcGRITWdj M1ZpIGMybG thV0Z5ZVMg d2dTWEp2Ym xCcyBZVzVs ZEM0OFluIE krT0M0Z1Vt bDAgWTJocF pTQkNjbSA5 ekxpQjNZWE 1nIGJHbHpk R1ZrSUcgOX VJSFJvWlNC TyBaWGNnV1 c5eWF5IEJU ZEc5amF5Qk YgZUdOb1lX NW5aUyBCcG JpQXhPVGs0 IElHRnVaQ0 JwY3kgQmpk WEp5Wlc1MC BiSGtnZEhK aFpHIFZrSU hWdVpHVnkg SUhSb1pTQj BhVyBOclpY SWdjM2x0IF ltOXNJRkpD UVMgNDhZbk krT1M0ZyBW R2hsSUdOdm JYIEJoYm5u aWdKbHogSU d4aGNtZGxj MyBRZ1lYVm pkR2x2IGJp QjBieUJrWV ggUmxJSGRo Y3lCbyBaV3 hrSUdsdUlF IDl5YkdGdV pHOHMgSUVa c2IzSnBaRy BFZ2FXNGdN akF5IE1DQm hibVFnWm0g VmhkSFZ5Wl dRZyBiM1ps Y2lBeE15IH d3TURBZ2FY UmwgYlhNZ2 MyOXNaQyBC bWIzSWdZU0 IwIGIzUmhi Q0J2WmkgQW tNamszSUcx cCBiR3hwYj I0dVBHIEp5 UGpFd0xpQk ogYmlCaFpH UnBkRyBsdm JpQjBieUJs IGNYVnBjRz FsYm4gUWdZ WFZqZEdsdi Bibk1zSUZK cGRHIE5vYV dVZ1FuSnYg Y3k0Z1lXeH pieSBCdlpt Wmxjbk1nIF lYQndjbUZw YzIgRnNJSE 5sY25acCBZ MlZ6TENCbG NYIFZwY0cx bGJuUWcgWm 1sdVlXNWph VyA1bkxDQm hibVFnIFlY TnpaWFFnYl cgRnVZV2Rs YldWdSBkQ0 J6YjJ4MWRH IGx2Ym5NZ1 ptOXkgSUds MGN5QmpkWC BOMGIyMWxj bk11CiAgIC AgICAgPC9z cGFuPgogIC AgICAgIAog ICAgICAgIA ==
See Company Q&A