ABG Sundal Collier

Live  

ABG Sundal Collier is a financial services company based in Norway. It was founded in 1984 and is listed on the Oslo Stock Exchange. The company provides a range of services including corporate finance, mergers and acquisitions, equity research, and securities trading.
ABG Sundal Collier has offices in several countries, including Norway, Sweden, Denmark, Finland, the UK, and the US. It has a strong focus on the Nordic region, but also has a global presence with clients in Europe, North America, and Asia.
The company offers various financial products and services to corporate clients, institutional investors, and private clients. It has a large network of clients and partners, which it leverages to provide customized solutions for its clients.
ABG Sundal Collier is recognized as a leading player in the Nordic investment banking industry, with a strong track record of successful transactions and a reputation for high-quality advice and expertise.
The company has received numerous awards and accolades for its services, including being named "Norway's best investment bank" by Euromoney for several consecutive years.
Overall, ABG Sundal Collier is a well-established and respected financial services company with a strong presence in the Nordic region and a global reach.

MS4gU3Ryb2 5nIE5vcmRp YyBoZXJpdG FnZTogQUJH IFN1bmRhbC BDb2xsaWVy IHdhcyBmb3 VuZGVkIGlu IDE5ODQgaW 4gTm9yd2F5 IGFuZCBoYX Mgc2luY2Ug ZXhwYW5kZW QgdG8gYmVj b21lIG9uZS BvZiB0aGUg bGVhZGluZy BpbnZlc3Rt ZW50IGJhbm tzIGluIHRo ZSBOb3JkaW MgcmVnaW9u Ljxicj4yLi BGb2N1cyBv biBjbGllbn QgcmVsYXRp b25zaGlwcz ogVGhlIGNv bXBhbnkgcH JpZGVzIGl0 c2VsZiBvbi BidWlsZGlu ZyBsb25nLX Rlcm0gcmVs YXRpb25zaG lwcyB3aXRo IGl0cyBjbG llbnRzLCB3 aGljaCBoYX MgcmVzdWx0 ZWQgaW4gYS BoaWdoIGxl dmVsIG9mIH JlcGVhdCBi dXNpbmVzcy BhbmQgYSBs b3lhbCBjbG llbnQgYmFz ZS48YnI+My 4gSW5kdXN0 cnkgZXhwZX J0aXNlOiBB QkcgU3VuZG FsIENvbGxp ZXIgaGFzIG EgdGVhbSBv ZiBoaWdobH kgZXhwZXJp ZW5jZWQgYW 5kIGtub3ds ZWRnZWFibG UgYW5hbHlz dHMgYW5kIG Fkdmlzb3Jz IHdobyBoYX ZlIGRlZXAg ZXhwZXJ0aX NlIGluIHZh cmlvdXMgaW 5kdXN0cmll cywgaW5jbH VkaW5nIGVu ZXJneSwgZm luYW5jZSwg aGVhbHRoY2 FyZSwgYW5k IHRlY2hub2 xvZ3kuPGJy PjQuIERpdm Vyc2lmaWVk IHNlcnZpY2 Ugb2ZmZXJp bmdzOiBUaG UgY29tcGFu eSBvZmZlcn MgYSB3aWRl IHJhbmdlIG 9mIHNlcnZp Y2VzLCBpbm NsdWRpbmcg Y29ycG9yYX RlIGZpbmFu Y2UsIGVxdW l0eSBhbmQg ZGVidCBjYX BpdGFsIG1h cmtldHMsIE 0mQSBhZHZp c29yeSwgZm luYW5jaWFs IHJlc3RydW N0dXJpbmcs IGFuZCB3ZW FsdGggbWFu YWdlbWVudC wgbWFraW5n IGl0IGEgb2 5lLXN0b3At c2hvcCBmb3 IgaXRzIGNs aWVudHMuPG JyPjUuIFN0 cm9uZyB0cm FjayByZWNv cmQ6IEFCRy BTdW5kYWwg Q29sbGllci BoYXMgYSBz dHJvbmcgdH JhY2sgcmVj b3JkIGluIG RlbGl2ZXJp bmcgc3VjY2 Vzc2Z1bCB0 cmFuc2FjdG lvbnMgYW5k IGhhcyBiZW VuIGludm9s dmVkIGluIH NvbWUgb2Yg dGhlIGxhcm dlc3QgYW5k IG1vc3QgY2 9tcGxleCBk ZWFscyBpbi B0aGUgTm9y ZGljIG1hcm tldC48YnI+ Ni4gRW50cm VwcmVuZXVy aWFsIGFuZC Bpbm5vdmF0 aXZlIGN1bH R1cmU6IFRo ZSBjb21wYW 55IHZhbHVl cyBlbnRyZX ByZW5ldXJz aGlwLCBpbm 5vdmF0aW9u LCBhbmQgY3 JlYXRpdml0 eSwgd2hpY2 ggaGF2ZSBo ZWxwZWQgaX Qgc3RheSBh dCB0aGUgZm 9yZWZyb250 IG9mIGluZH VzdHJ5IHRy ZW5kcyBhbm QgYWRhcHQg dG8gY2hhbm dpbmcgbWFy a2V0IGNvbm RpdGlvbnMu PGJyPjcuIF N0cm9uZyBn bG9iYWwgcH Jlc2VuY2U6 IEFCRyBTdW 5kYWwgQ29s bGllciBoYX MgYSBnbG9i YWwgcmVhY2 gsIHdpdGgg b2ZmaWNlcy BpbiBtYWpv ciBmaW5hbm NpYWwgY2Vu dGVycyBzdW NoIGFzIExv bmRvbiwgTm V3IFlvcmss IGFuZCBTaW 5nYXBvcmUs IGFsbG93aW 5nIGl0IHRv IHNlcnZlIG NsaWVudHMg aW4gYWxsIG tleSBtYXJr ZXRzLjxicj 44LiBDb21t aXRtZW50IH RvIHN1c3Rh aW5hYmlsaX R5OiBUaGUg Y29tcGFueS BoYXMgYSBz dHJvbmcgY2 9tbWl0bWVu dCB0byBlbn Zpcm9ubWVu dGFsLCBzb2 NpYWwsIGFu ZCBjb3Jwb3 JhdGUgZ292 ZXJuYW5jZS AoRVNHKSBw cmluY2lwbG VzIGFuZCBp bnRlZ3JhdG VzIHRoZW0g aW50byBpdH MgYnVzaW5l c3MgcHJhY3 RpY2VzLjxi cj45LiBSZW NvZ25pemVk IGFzIGEgdG 9wIGVtcGxv eWVyOiBBQk cgU3VuZGFs IENvbGxpZX IgaGFzIGJl ZW4gcmVjb2 duaXplZCBh cyBhIHRvcC BlbXBsb3ll ciBpbiB0aG UgZmluYW5j aWFsIHNlcn ZpY2VzIGlu ZHVzdHJ5LC B3aXRoIGEg c3Ryb25nIG ZvY3VzIG9u IGNyZWF0aW 5nIGEgcG9z aXRpdmUgYW 5kIGRpdmVy c2Ugd29yay BjdWx0dXJl Ljxicj4xMC 4gU3Ryb25n IGZpbmFuY2 lhbCBwZXJm b3JtYW5jZT ogVGhlIGNv bXBhbnkgaG FzIGEgc29s aWQgZmluYW 5jaWFsIHRy YWNrIHJlY2 9yZCB3aXRo IHN0YWJsZS ByZXZlbnVl IGdyb3d0aC BhbmQgYSBz dHJvbmcgYm FsYW5jZSBz aGVldCwgaW 5kaWNhdGlu ZyBpdHMgc3 RhYmlsaXR5 IGFuZCBvbm dvaW5nIHN1 Y2Nlc3MgaW 4gdGhlIG1h cmtldC4=

QUJHIFN1bm RhbCBDb2xs aWVyIGlzIG FuIGludmVz dG1lbnQgYm FuayBhbmQg ZmluYW5jaW FsIHNlcnZp Y2VzIGNvbX Bhbnkgd2l0 aCBhIGJ1c2 luZXNzIG1v ZGVsIGZvY3 VzZWQgb24g cHJvdmlkaW 5nIGFkdmlz b3J5LCBicm 9rZXJhZ2Us IGFuZCBhc3 NldCBtYW5h Z2VtZW50IH NlcnZpY2Vz IHRvIGNvcn BvcmF0ZSBh bmQgaW5zdG l0dXRpb25h bCBjbGllbn RzLjxicj4x LiBBZHZpc2 9yeSBzZXJ2 aWNlczogQU JHIFN1bmRh bCBDb2xsaW VyIG9mZmVy cyBhIHJhbm dlIG9mIGFk dmlzb3J5IH NlcnZpY2Vz IGluY2x1ZG luZyBtZXJn ZXJzIGFuZC BhY3F1aXNp dGlvbnMsIG VxdWl0eSBj YXBpdGFsIG 1hcmtldHMs IGRlYnQgY2 FwaXRhbCBt YXJrZXRzLC BhbmQgc3Ry YXRlZ2ljIG Fkdmlzb3J5 IHRvIGhlbH AgY2xpZW50 cyB3aXRoIH RoZWlyIGZp bmFuY2lhbC BkZWNpc2lv bnMuPGJyPj IuIEJyb2tp bmcgYW5kIH RyYWRpbmc6 IFRoZSBjb2 1wYW55IGFs c28gcHJvdm lkZXMgYnJv a2luZyBhbm QgdHJhZGlu ZyBzZXJ2aW NlcyBmb3Ig ZXF1aXRpZX MsIGZpeGVk IGluY29tZS wgY3VycmVu Y2llcywgY2 9tbW9kaXRp ZXMsIGFuZC BkZXJpdmF0 aXZlcy4gVG hpcyBpbmNs dWRlcyBleG VjdXRpb24s IHJlc2Vhcm NoLCBhbmQg dHJhZGluZy Bzb2x1dGlv bnMgZm9yIG luc3RpdHV0 aW9uYWwgY2 xpZW50cy48 YnI+My4gQX NzZXQgbWFu YWdlbWVudD ogQUJHIFN1 bmRhbCBDb2 xsaWVyIG1h bmFnZXMgYX NzZXRzIGZv ciBpbnN0aX R1dGlvbmFs IGludmVzdG 9ycyB0aHJv dWdoIGl0cy Bhc3NldCBt YW5hZ2VtZW 50IGRpdmlz aW9uLiBUaG lzIGluY2x1 ZGVzIHByb3 ZpZGluZyBw b3J0Zm9saW 8gbWFuYWdl bWVudCwgcm VzZWFyY2gs IGFuZCByaX NrIG1hbmFn ZW1lbnQgc2 9sdXRpb25z IHRvIGNsaW VudHMuPGJy PjQuIEVxdW l0eSByZXNl YXJjaDogVG hlIGNvbXBh bnkgaGFzIG EgZGVkaWNh dGVkIHRlYW 0gb2YgZXF1 aXR5IHJlc2 VhcmNoZXJz IHByb3ZpZG luZyBpbnNp Z2h0cywgYW 5hbHlzaXMs IGFuZCByZW NvbW1lbmRh dGlvbnMgdG 8gY2xpZW50 cyBvbiB2YX Jpb3VzIGNv bXBhbmllcy BhbmQgaW5k dXN0cmllcy 48YnI+NS4g Q29ycG9yYX RlIGZpbmFu Y2U6IEFCRy BTdW5kYWwg Q29sbGllci BvZmZlcnMg YSByYW5nZS BvZiBjb3Jw b3JhdGUgZm luYW5jZSBz ZXJ2aWNlcy BzdWNoIGFz IGRlYnQgcm VzdHJ1Y3R1 cmluZywgY2 FwaXRhbCBy YWlzaW5nLC BhbmQgZmlu YW5jaWFsIG Fkdmlzb3J5 IHRvIGhlbH AgY29tcGFu aWVzIGFjaG lldmUgdGhl aXIgc3RyYX RlZ2ljIGdv YWxzLjxicj 42LiBQcml2 YXRlIGVxdW l0eTogVGhl IGNvbXBhbn kgYWxzbyBo YXMgYSBwcm l2YXRlIGVx dWl0eSBkaX Zpc2lvbiB0 aGF0IGludm VzdHMgaW4g c21hbGwgYW 5kIG1lZGl1 bS1zaXplZC Bjb21wYW5p ZXMgaW4gdG hlIE5vcmRp YyByZWdpb2 4gd2l0aCBn cm93dGggcG 90ZW50aWFs Ljxicj5Pdm VyYWxsLCBB QkcgU3VuZG FsIENvbGxp ZXIncyBidX NpbmVzcyBt b2RlbCBpcy Bmb2N1c2Vk IG9uIHByb3 ZpZGluZyBj b21wcmVoZW 5zaXZlIGZp bmFuY2lhbC BzZXJ2aWNl cyB0byBjb3 Jwb3JhdGUg YW5kIGluc3 RpdHV0aW9u YWwgY2xpZW 50cywgbWFr aW5nIGl0IG Egb25lLXN0 b3Atc2hvcC Bmb3IgYWxs IHRoZWlyIG ZpbmFuY2lh bCBuZWVkcy 4=

The sensitivity of ABG Sundal Collier’s earnings, cash flow, and valuation to changes in interest rates can be influenced by several factors typical of financial services and investment firms. Here are some key considerations:
1. Earnings Sensitivity: Interest rates can impact the company’s earnings primarily through the cost of capital and the level of activity in the markets. Higher interest rates may lead to reduced trading volumes and investment activity, which can negatively affect commission income and advisory fees. Conversely, if the company has a strong position in debt advisory or other interest-sensitive areas, rising rates could improve earnings from these segments.
2. Cash Flow Sensitivity: Changes in interest rates affect cash flow primarily through the company’s borrowing costs and investment returns. If the firm relies significantly on borrowing to finance its operations, an increase in interest rates would increase interest expenses, thus reducing cash flow. Additionally, higher rates may influence the valuations of assets under management, affecting fee income from investment management services.
3. Valuation Sensitivity: Interest rates also play a critical role in the discounting of future cash flows, which is a key component of valuation. When interest rates rise, the present value of future cash flows decreases, which could lead to lower valuations. This impact can be more pronounced if the firm operates in growth sectors where cash flow generation is expected further into the future.
In summary, ABG Sundal Collier’s earnings, cash flow, and valuation are likely sensitive to changes in interest rates, with potential negative impacts from rising rates, particularly through costs of capital, market activity, and discounted cash flow valuations. However, the exact sensitivity would depend on the firm’s exposure to various market activities and its capital structure.

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 bG9nb3MvaG 9MYTFjYmND TkpFWUJxdX N5ZEcud2Vi cCIgYWx0PS JBQkcgU3Vu ZGFsIENvbG xpZXIiIHRp dGxlPSJBQk cgU3VuZGFs IENvbGxpZX IiICBjbGFz cz0iaW1nLW ZsdWlkIiBo ZWlnaHQ9OT Agd2lkdGg9 OTAgbG9hZG luZz0nbGF6 eScgc3R5bG U9J2JvcmRl ci1yYWRpdX M6IDZweDsn PgoKICAgIC AgICAgICAg ICAgICAgIC A8ZGl2IHN0 eWxlPSdmbG V4OiAxOyB0 ZXh0LWFsaW duOiBjZW50 ZXI7IG1hcm dpbi1sZWZ0 OiA1cHg7Jz 4KICAgICAg ICAgICAgIC AgICAgICAg ICAgPHAgc3 R5bGU9J2Zv bnQtc2l6ZT ogMjZweDsg Y29sb3I6IC MzMzM7IG1h cmdpbi1ib3 R0b206IDE1 cHg7Jz4KIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIPCfk4 ggV2FudCB0 byByZWFkIG 1vcmUgYWJv dXQgQUJHIF N1bmRhbCBD b2xsaWVyPw 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+agCBEb2 7igJl0IG1p c3MgPGk+Il RoZSBDaGVj a2xpc3QgVm FsdWUgSW52 ZXN0b3Ig4o CUIEEgU21h cnRlciBXYX kgdG8gUGlj ayBTdG9ja3 MiPC9pPiDi gJQgZnJlZS EKICAgICAg 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 dRVUpISUYg TjFibVJoYk NCRCBiMnhz YVdWeUlHIG x6SUdFZ1Rt OXkgWkdsak lHbHVkbSBW emRHMWxibl FnIFltRnVh eUJoYm0gUW dkR2hsSUd4 aCBjbWRsYz NRZ2FXIDVr WlhCbGJtUm wgYm5RZ2FX NTJaWCBOMG JXVnVkQ0Jp IFlXNXJJR2 x1SUggUm9a U0JPYjNKay BhV01nY21W bmFXIDl1TG lCSmRDQnAg Y3lCb1pXRm tjWCBWaGNu UmxjbVZrIE lHbHVJRTl6 YkcgOHNJRT V2Y25kaCBl U0JoYm1RZ2 FHIEZ6SUc5 d1pYSmggZE dsdmJuTWdh VyA0Z09DQm thV1ptIFpY SmxiblFnWT IgOTFiblJ5 YVdWeiBMan hpY2o0eUxp IEJVYUdVZ1 kyOXQgY0dG dWVTQjNZWC BNZ1ptOTFi bVJsIFpDQn BiaUF4T1Qg ZzBJR0Z6SU ZOMSBibVJo YkNCRGIyIH hzYVdWeUlD WWcgUTI4c0 lHRnVaQyBC dFpYSm5aV1 FnIGQybDBh Q0JCUWsgY2 dVMlZqZFhK cCBkR2xsY3 lCcGJpIEF5 TURBeklIUn YgSUdadmNt MGdRVSBKSE lGTjFibVJo IGJDQkRiMn hzYVcgVnlM anhpY2o0ei BMaUJKZENC cGN5IEJzYV hOMFpXUWcg YjI0Z2RHaG xJRSA5emJH OGdVM1J2IF kyc2dSWGhq YUcgRnVaMl VnZFc1ayBa WElnZEdobE lIIFJwWTJ0 bGNpQnogZV cxaWIyd2dR ViBORElHRn VaQ0JvIFlY TWdZU0J0WV ggSnJaWFFn WTJGdyBhWF JoYkdsNllY IFJwYjI0Z2 IyWWcgWVhK dmRXNWtJRC BFdU5pQmlh V3hzIGFXOX VJRlZUUkMg NDhZbkkrTk M0ZyBRVUpI SUZOMWJtIF JoYkNCRGIy eHMgYVdWeU lHOW1abSBW eWN5QmhJSE poIGJtZGxJ RzltSUcgWn BibUZ1WTJs aCBiQ0J6Wl hKMmFXIE5s Y3l3Z2FXNW ogYkhWa2FX NW5JRyBsdW RtVnpkRzFs IGJuUWdZbU Z1YTIgbHVa eXdnWTI5eS BjRzl5WVhS bElHIFpwYm 1GdVkybHUg Wnl3Z1pYRj FhWCBSNUlI SmxjMlZoIG NtTm9MQ0J6 WVcgeGxjeU JoYm1RZyBk SEpoWkdsdV p5IHdnWVc1 a0lHRnogYz JWMElHMWhi bSBGblpXMW xiblF1IFBH SnlQalV1SU YgUm9aU0Jq YjIxdyBZVz U1SUdoaGN5 IEJoSUhOMG NtOXUgWnlC bWIyTjFjeS BCdmJpQjBh R1VnIFRtOX laR2xqSUgg SmxaMmx2Ym l3ZyBZblYw SUdGc2MyID hnYUdGeklH RWcgWjJ4dl ltRnNJSCBK bFlXTm9JSF JvIGNtOTFa MmdnYVggUn pJR2x1ZEdW eSBibUYwYV c5dVlXIHdn Ym1WMGQyOX kgYXlCdlpp QmpiRyBsbG JuUnpJR0Z1 IFpDQndZWE owYm0gVnlj eTQ4WW5JKy BOaTRnUVhN Z2IyIFlnTW pBeU1Td2cg UVVKSElGTj FibSBSaGJD QkRiMnhzIG FXVnlJR2ho Y3kgQnZkbV Z5SURjdyBN Q0JsYlhCc2 IzIGxsWlhN Z1lXNWsgSU hObGNuWmxj eSBCamJHbG xiblJ6IElH bHVJSFJvWl MgQm9aV0Zz ZEdoaiBZWE psTENCMFpX IE5vYm05c2 IyZDUgTENC bGJtVnlaMy Brc0lHTnZi bk4xIGJXVn lMQ0JoYm0g UWdhVzVrZF hOMCBjbWxo YkNCelpXIE 4wYjNKekxq eGkgY2o0M0 xpQlVhRyBV Z1kyOXRjR0 Z1IGVTQm9Z WE1nWVMgQm 9hWE4wYjNK NSBJRzltSU hkdmNtIHRw Ym1jZ2IyNG cgYUdsbmFD MXdjbSA5bW FXeGxJR1Js IFlXeHpMQ0 J6ZFcgTm9J R0Z6SUdGei BjMmx6ZEds dVp5IEJwYm lCMGFHVWcg Y0hKcGRtRj BhWCBwaGRH bHZiaUJ2IF ppQlVaV3hs TWkgd2dZU0 JzWldGayBh VzVuSUVWMW NtIDl3WldG dUlIUmwgYk dWamIyMXRk VyA1cFkyRj BhVzl1IGN5 QndjbTkyYV cgUmxjaTQ4 WW5JKyBPQz RnUVVKSElG IE4xYm1SaG JDQkQgYjJ4 c2FXVnlJRy BoaGN5QjNi MjRnIGMyVj JaWEpoYkMg QmhkMkZ5Wk hNZyBZVzVr SUdGalkyID lzWVdSbGN5 d2cgYVc1am JIVmthVyA1 bklHSmxhVz VuIElHNWhi V1ZrSUUgSm xjM1FnU1c1 MiBaWE4wYl dWdWRDIEJD WVc1cklHbH UgSUhSb1pT Qk9iMyBKa2 FXTWdjbVZu IGFXOXVJR0 o1SUUgVjFj bTl0YjI1bC BlU0JtYjNJ Z2RHIGh5Wl dVZ1kyOXUg YzJWamRYUn BkbSBVZ2VX Vmhjbk1nIE tESXdNVGt0 TWogQXlNU2 t1UEdKeSBQ amt1SUZSb1 pTIEJqYjIx d1lXNTUgSU doaGN5QmhJ SCBOMGNtOX VaeUJtIGIy TjFjeUJ2Ym kgQnpkWE4w WVdsdSBZV0 pwYkdsMGVT IEJoYm1RZ2 QyRnogSUhK bFkyOW5ibS BsNlpXUWdZ WE1nIGRHaG xJRzF2YzMg UWdjM1Z6ZE dGcCBibUZp YkdVZ2FXID UyWlhOMGJX VnUgZENCaV lXNXJJRyBs dUlIUm9aU0 JPIGIzSmth V01nY20gVm 5hVzl1SUdK NSBJR3hsWV dScGJtIGNn YzNWemRHRn AgYm1GaWFX eHBkSCBrZ2 NtVnpaV0Z5 IFkyZ2dabW x5YlMgQlRk WE4wWVdsdS BZV3g1ZEds amN5IEJwYm lBeU1ESXcg TGp4aWNqNH hNQyA0Z1NX NGdZV1JrIG FYUnBiMjRn ZEcgOGdhWF J6SUdacCBi bUZ1WTJsaG JDIEJ6WlhK MmFXTmwgY3 l3Z1FVSkhJ RiBOMWJtUm hiQ0JEIGIy eHNhV1Z5SU cgRnNjMjhn YUdGeiBJR0 VnWTJoaGNt IGwwWVdKc1 pTQmggY20w c0lIUm9aUy BCQlFrY2dV M1Z1IFpHRn NJRU52Ykcg eHBaWElnUm 05MSBibVJo ZEdsdmJpIH dnZDJocFky Z2cgYzNWd2 NHOXlkSCBN Z2RtRnlhVz kxIGN5Qnpi Mk5wWVcgd2 dZVzVrSUdW dSBkbWx5Yj I1dFpXIDUw WVd3Z2FXNX AgZEdsaGRH bDJaWCBNZ1 lXNWtJRzl5 IFoyRnVhWH BoZEcgbHZi bk11CiAgIC AgICAgPC9z cGFuPgogIC AgICAgIAog ICAgICAgIA ==
See Company Q&A