M.P. Evans Group

-13.1%

Live  

M.P. Evans Group is a British multinational company that specializes in the production and trading of palm oil and other agricultural commodities. The company was founded in 1991 and is based in Tunbridge Wells, UK.
The company has operations in Indonesia, Malaysia, and West Africa, where it grows and processes oil palm fruit into crude palm oil and palm kernels. These products are then sold to customers worldwide for use in various industries, including food, cosmetics, and biofuels.
Additionally, M.P. Evans Group also owns and operates oil palm plantations, as well as processing and storage facilities. The company is committed to sustainable and responsible practices, ensuring that its operations do not harm the environment or local communities.
M.P. Evans Group is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. It has a diverse portfolio of products and services, with palm oil being its core focus. The company also has interests in rubber, cocoa, and cattle ranching, as well as property development.
The company’s mission is to deliver sustainable returns to its stakeholders by being a leading producer and supplier of responsibly produced agricultural commodities. It also aims to contribute to the economic and social development of the communities in which it operates.
In recent years, M.P. Evans Group has faced criticism and protests from environmental groups regarding its palm oil operations, leading the company to make commitments and take measures to improve its sustainability practices.
Overall, M.P. Evans Group is a global company with a long history and a strong focus on ethical and sustainable practices in the production and trading of palm oil and agricultural commodities.

TS5QLiBFdm FucyBHcm91 cCBpcyBhIG NvbXBhbnkg dGhhdCBmb2 N1c2VzIG9u IGZhcm1pbm cgYW5kIGdy b3dpbmcgY3 JvcHMsIGVz cGVjaWFsbH kgcGFsbSBv aWwuIFBhbG 0gb2lsIGlz IGEgdHlwZS BvZiBjb29r aW5nIG9pbC B0aGF0IGNv bWVzIGZyb2 0gdGhlIGZy dWl0IG9mIH BhbG0gdHJl ZXMuIFRoZS Bjb21wYW55 IGhhcyBmYX JtcyBpbiBw bGFjZXMgbG lrZSBJbmRv bmVzaWEgYW 5kIE1hbGF5 c2lhIHdoZX JlIHRoZXkg Z3JvdyB0aG VzZSBwYWxt IHRyZWVzLj xicj5NLlAu IEV2YW5zIG 1ha2VzIG1v bmV5IGJ5IH BsYW50aW5n IHRoZXNlIH BhbG0gdHJl ZXMsIGhhcn Zlc3Rpbmcg dGhlIGZydW l0LCBhbmQg dGhlbiBzZW xsaW5nIHRo ZSBvaWwgdG hleSBwcm9k dWNlIHRvIG 90aGVyIGNv bXBhbmllcy 4gVGhpcyBv aWwgaXMgdX NlZCBpbiBt YW55IHRoaW 5ncywgbGlr ZSBmb29kIH Byb2R1Y3Rz IGFuZCBldm VuIHNvbWUg Y29zbWV0aW NzLiBJdOKA mXMgaW4gYS Bsb3Qgb2Yg c25hY2tzLC BiYWtlZCBn b29kcywgYW 5kIG90aGVy IGl0ZW1zIH dlIHNlZSBp biBzdG9yZX MuPGJyPlRo ZSBjb21wYW 55IGlzIHN1 Y2Nlc3NmdW wgZm9yIGEg ZmV3IHJlYX NvbnMuIEZp cnN0LCB0aG VyZSBpcyBh IGhpZ2ggZG VtYW5kIGZv ciBwYWxtIG 9pbCBiZWNh dXNlIG1hbn kgcGVvcGxl IGFuZCBjb2 1wYW5pZXMg bmVlZCBpdC Bmb3IgdGhl aXIgcHJvZH VjdHMuIFNl Y29uZCwgTS 5QLiBFdmFu cyBoYXMgYm VlbiB3b3Jr aW5nIGZvci BhIGxvbmcg dGltZSwgYW 5kIHRoZXkg a25vdyBhIG xvdCBhYm91 dCBob3cgdG 8gZmFybSBw YWxtIG9pbC BlZmZpY2ll bnRseSBhbm Qgc3VzdGFp bmFibHkuIF RoaXMgbWVh bnMgdGhleS B0YWtlIGNh cmUgb2YgdG hlIGVudmly b25tZW50IG FuZCBtYWtl IHN1cmUgdG hlaXIgZmFy bWluZyBoZW xwcyBpbnN0 ZWFkIG9mIG hhcm1pbmcg bmF0dXJlLj xicj5Mb29r aW5nIHRvIH RoZSBmdXR1 cmUsIE0uUC 4gRXZhbnMg aXMgbGlrZW x5IHRvIHN0 YXkgc3VjY2 Vzc2Z1bCBm b3IgYSBjb3 VwbGUgb2Yg cmVhc29ucy 4gVGhleSBh cmUgYWx3YX lzIGxvb2tp bmcgZm9yIG JldHRlciB3 YXlzIHRvIG Zhcm0gYW5k IHByb2R1Y2 UgcGFsbSBv aWwgd2hpbG UgYmVpbmcg a2luZCB0by B0aGUgZW52 aXJvbm1lbn QuIFBsdXMs IGFzIG1vcm UgY291bnRy aWVzIGdyb3 cgYW5kIG1v cmUgcGVvcG xlIG5lZWQg Y29va2luZy BvaWwgYW5k IGZvb2QgcH JvZHVjdHMs IHRoZSBuZW VkIGZvciBw YWxtIG9pbC B3aWxsIHN0 aWxsIGJlIH N0cm9uZy4g U28sIGFzIG xvbmcgYXMg dGhleSBrZW VwIGRvaW5n IHdoYXQgdG hleSBkbyB3 ZWxsIGFuZC BwYXkgYXR0 ZW50aW9uIH RvIHRha2lu ZyBjYXJlIG 9mIG91ciBw bGFuZXQsIE 0uUC4gRXZh bnMgR3JvdX AgaXMgZXhw ZWN0ZWQgdG 8ga2VlcCBk b2luZyB3ZW xsIGluIHRo ZSBmdXR1cm UuPGJyPg==

VGhlcmUgYX JlIGEgZmV3 IHRoaW5ncy B0aGF0IGNv dWxkIGJlIG NvbnNpZGVy ZWQgc3BlY2 lhbCBhYm91 dCB0aGUgTS 5QLiBFdmFu cyBHcm91cC Bjb21wYW55 LCBpbmNsdW Rpbmc6PGJy PjEuIEZvY3 VzIG9uIHN1 c3RhaW5hYm xlIHBhbG0g b2lsIHByb2 R1Y3Rpb246 IFRoZSBNLl AuIEV2YW5z IEdyb3VwIG lzIGEgbWFq b3IgcHJvZH VjZXIgb2Yg c3VzdGFpbm FibGUgcGFs bSBvaWwsIH dpdGggYSBj b21taXRtZW 50IHRvIHJl c3BvbnNpYm xlIGFuZCBl dGhpY2FsIH Byb2R1Y3Rp b24gcHJhY3 RpY2VzLiBU aGlzIHNldH MgdGhlIGNv bXBhbnkgYX BhcnQgZnJv bSBvdGhlci BwYWxtIG9p bCBwcm9kdW NlcnMgdGhh dCBoYXZlIG NvbWUgdW5k ZXIgc2NydX RpbnkgZm9y IHRoZWlyIG Vudmlyb25t ZW50YWwgYW 5kIHNvY2lh bCBpbXBhY3 RzLjxicj4y LiBMb25nLX N0YW5kaW5n IGhpc3Rvcn k6IFRoZSBj b21wYW55IG NhbiB0cmFj ZSBpdHMgcm 9vdHMgYmFj ayB0byB0aG UgMTl0aCBj ZW50dXJ5LC BtYWtpbmcg aXQgb25lIG 9mIHRoZSBv bGRlc3QgYW 5kIG1vc3Qg ZXN0YWJsaX NoZWQgYWdy aWN1bHR1cm FsIGJ1c2lu ZXNzZXMgaW 4gdGhlIHdv cmxkLiBUaG lzIGdpdmVz IHRoZSBjb2 1wYW55IGFu IGV4dGVuc2 l2ZSBrbm93 bGVkZ2UgYW 5kIGV4cGVy aWVuY2UgaW 4gdGhlIGlu ZHVzdHJ5Lj xicj4zLiBJ bnRlcm5hdG lvbmFsIHBy ZXNlbmNlOi BUaGUgTS5Q LiBFdmFucy BHcm91cCBo YXMgb3Blcm F0aW9ucyBp biBzZXZlcm FsIGNvdW50 cmllcywgaW 5jbHVkaW5n IEluZG9uZX NpYSwgTWFs YXlzaWEsIG FuZCBQYXB1 YSBOZXcgR3 VpbmVhLCBt YWtpbmcgaX QgYSB0cnVs eSBnbG9iYW wgY29tcGFu eS48YnI+NC 4gRGl2ZXJz aWZpZWQgb3 BlcmF0aW9u czogVGhlIG NvbXBhbnni gJlzIHBvcn Rmb2xpbyBp bmNsdWRlcy Bub3Qgb25s eSBwYWxtIG 9pbCBwcm9k dWN0aW9uIG J1dCBhbHNv IHJ1YmJlci BhbmQgY29j b2EgcGxhbn RhdGlvbnMs IGdpdmluZy BpdCBhIGRp dmVyc2Ugcm FuZ2Ugb2Yg cmV2ZW51ZS BzdHJlYW1z Ljxicj41Li BTdHJvbmcg ZmluYW5jaW FsIHBlcmZv cm1hbmNlOi BUaGUgTS5Q LiBFdmFucy BHcm91cCBo YXMgY29uc2 lzdGVudGx5 IGRlbGl2ZX JlZCBzdHJv bmcgZmluYW 5jaWFsIHJl c3VsdHMsIH dpdGggYSB0 cmFjayByZW NvcmQgb2Yg cHJvZml0YW JpbGl0eSBh bmQgZ3Jvd3 RoLiBUaGlz IHBvc2l0aW 9ucyB0aGUg Y29tcGFueS BhcyBhIHJl bGlhYmxlIG FuZCBzdGFi bGUgYnVzaW 5lc3MgZm9y IGludmVzdG 9ycy48YnI+ Ni4gQ29tbX VuaXR5LWZv Y3VzZWQgaW 5pdGlhdGl2 ZXM6IFRoZS Bjb21wYW55 IGhhcyB2YX Jpb3VzIGNv bW11bml0eS 1mb2N1c2Vk IGluaXRpYX RpdmVzIGlu IHBsYWNlLC BpbmNsdWRp bmcgcHJvZ3 JhbXMgdG8g aW1wcm92ZS BlZHVjYXRp b24sIGhlYW x0aGNhcmUs IGFuZCBsaX ZlbGlob29k cyBmb3IgbG 9jYWwgY29t bXVuaXRpZX MuPGJyPjcu IENvbW1pdG 1lbnQgdG8g aW5ub3ZhdG lvbjogVGhl IE0uUC4gRX ZhbnMgR3Jv dXAgbWFrZX MgdXNlIG9m IGlubm92YX RpdmUgdGVj aG5vbG9naW VzIGFuZCBt ZXRob2RzIH RvIGltcHJv dmUgZWZmaW NpZW5jeSBh bmQgc3VzdG FpbmFiaWxp dHkgaW4gaX RzIG9wZXJh dGlvbnMsIG RlbW9uc3Ry YXRpbmcgYS Bmb3J3YXJk LXRoaW5raW 5nIGFwcHJv YWNoIHRvIG l0cyBidXNp bmVzcy4=

VGhlIE0uUC 4gRXZhbnMg R3JvdXAgaX MgYSBwYWxt IG9pbCBjb2 1wYW55IHdp dGggYSB2ZX J0aWNhbGx5 IGludGVncm F0ZWQgYnVz aW5lc3MgbW 9kZWwuIFRo aXMgbWVhbn MgdGhhdCB0 aGUgY29tcG FueSBpcyBp bnZvbHZlZC BpbiBhbGwg c3RhZ2VzIG 9mIHRoZSBw YWxtIG9pbC Bwcm9kdWN0 aW9uIHByb2 Nlc3MsIGZy b20gdGhlIG N1bHRpdmF0 aW9uIG9mIH BhbG0gb2ls IHBsYW50YX Rpb25zIHRv IHRoZSBwcm 9jZXNzaW5n IGFuZCBtYX JrZXRpbmcg b2YgcGFsbS BvaWwgcHJv ZHVjdHMuPG JyPlRoZSBj b21wYW554o CZcyBidXNp bmVzcyBtb2 RlbCBpcyBi YXNlZCBvbi BzdXN0YWlu YWJsZSBhbm QgcmVzcG9u c2libGUgcH JhY3RpY2Vz LCB3aXRoIG EgZm9jdXMg b24gbWF4aW 1pemluZyB0 aGUgZWZmaW NpZW5jeSBh bmQgcHJvZH VjdGl2aXR5 IG9mIGl0cy BvcGVyYXRp b25zLiBUaG lzIGluY2x1 ZGVzIGludm VzdGluZyBp biBpbm5vdm F0aXZlIHRl Y2hub2xvZ2 llcyBhbmQg Y29udGludW 91cyBpbXBy b3ZlbWVudC Bpbml0aWF0 aXZlcyB0by BpbmNyZWFz ZSB5aWVsZH MgYW5kIHJl ZHVjZSBlbn Zpcm9ubWVu dGFsIGltcG FjdC48YnI+ VGhlIE0uUC 4gRXZhbnMg R3JvdXAgYW xzbyBoYXMg YSBzdHJvbm cgZm9jdXMg b24gYnVpbG RpbmcgYW5k IG1haW50YW luaW5nIGxv bmctdGVybS ByZWxhdGlv bnNoaXBzIH dpdGggaXRz IHN0YWtlaG 9sZGVycywg aW5jbHVkaW 5nIGxvY2Fs IGNvbW11bm l0aWVzLCBj dXN0b21lcn MsIGFuZCBz dXBwbGllcn MuIFRoaXMg aW52b2x2ZX MgcHJvbW90 aW5nIGZhaX IgdHJhZGUg YW5kIGV0aG ljYWwgYnVz aW5lc3MgcH JhY3RpY2Vz IGluIGl0cy BvcGVyYXRp b25zLjxicj 5JbiBhZGRp dGlvbiB0by BpdHMgY29y ZSBwYWxtIG 9pbCBidXNp bmVzcywgdG hlIGNvbXBh bnkgYWxzby BoYXMgZGl2 ZXJzaWZpZW QgaW50ZXJl c3RzIGluIG 90aGVyIGFn cmljdWx0dX JhbCBwcm9k dWN0cywgc3 VjaCBhcyBy dWJiZXIsIG NhdHRsZSwg YW5kIHByb3 BlcnR5IGRl dmVsb3BtZW 50LiBUaGlz IHByb3ZpZG VzIGEgZGl2 ZXJzaWZpZW QgaW5jb21l IHN0cmVhbS BhbmQgaGVs cHMgbWl0aW dhdGUgcmlz a3MgaW4gYW 4gZXZlci1j aGFuZ2luZy BtYXJrZXQu PGJyPk92ZX JhbGwsIHRo ZSBNLlAuIE V2YW5zIEdy b3Vw4oCZcy BidXNpbmVz cyBtb2RlbC BpcyBjZW50 ZXJlZCBvbi BzdXN0YWlu YWJsZSBncm 93dGggYW5k IHJlc3Bvbn NpYmxlIHBy YWN0aWNlcy wgd2hpbGUg YWxzbyBhaW 1pbmcgdG8g ZGVsaXZlci Bsb25nLXRl cm0gdmFsdW UgZm9yIGl0 cyBzaGFyZW hvbGRlcnMu

The potential threat of AI to the M.P. Evans Group, which operates in the palm oil industry, can be assessed through several considerations.
1. Substitution: AI can lead to the development of alternative products such as synthetic palm oil or other plant-based oils that could potentially replace traditional palm oil. If consumers shift towards these alternatives due to environmental concerns or health factors, M.P. Evans may face substitution risks. However, the established reputation and unique properties of palm oil may mitigate this threat to some extent.
2. Disintermediation: AI could facilitate direct connections between consumers and producers, bypassing traditional supply chains. This could disrupt the typical buyer-seller dynamics in the palm oil market. If consumers demand greater transparency or local sourcing facilitated by AI platforms, it could challenge M.P. Evans’ existing distribution channels.
3. Margin Pressure: The introduction of AI in agriculture could lead to more efficient production processes, reducing costs for competitors. If rivals manage to leverage AI for increased yield, optimized supply chains, or lower operational costs, it could put pressure on M.P. Evans’ profit margins. The company must continuously innovate and adapt to maintain its competitive positioning.
4. Operational Efficiency: On the positive side, M.P. Evans can also utilize AI to enhance its own operations, improving efficiency in farming practices, logistics, and customer engagement. By adopting AI technologies, the company could potentially offset some of the threats posed by competitors.
In conclusion, while AI does pose certain material threats to M.P. Evans Group’s products and competitive positioning, it also offers opportunities for innovation and improvement. The company’s response to these challenges will be crucial in determining its long-term competitiveness in the market.

The sensitivity of M.P. Evans Group’s earnings, cash flow, and valuation to changes in interest rates can be analyzed through several channels:
1. Cost of Debt: If M.P. Evans Group has significant debt, higher interest rates can increase interest expenses, which may reduce net earnings and cash flow. Conversely, lower interest rates can decrease interest expenses, positively impacting profitability.
2. Investment Decisions: Changes in interest rates can affect the company’s capital expenditure decisions. Higher rates may lead to reduced investment in growth opportunities, impacting future earnings. Lower rates might encourage more investment, potentially boosting future cash flows and valuations.
3. Discount Rate for Valuation: Valuations of companies are often based on discounted cash flow (DCF) models. An increase in interest rates raises the discount rate applied to future cash flows, which can lead to a lower present value and a reduced valuation of the company. Conversely, a decrease in interest rates can enhance valuations due to a lower discount rate.
4. Consumer and Market Demand: Increased interest rates can dampen consumer spending and overall market demand, which may negatively affect M.P. Evans Group’s revenue. If consumers are borrowing less due to higher costs, the company’s sales could decline, impacting earnings and cash flow.
5. Currency Exchange Rates: If M.P. Evans Group operates in multiple countries, interest rates can influence currency values. A stronger currency due to higher interest rates may impact export competitiveness and revenues from foreign markets.
Overall, M.P. Evans Group’s sensitivity to interest rate changes will depend on the extent of its leverage, operational characteristics, and broader economic conditions. The company would need to actively manage its financial strategy to mitigate the potential adverse effects of interest rate fluctuations.

T25lIHJlYW xpc3RpYyBz Y2VuYXJpby B0aGF0IGNv dWxkIHBlcm 1hbmVudGx5 IGltcGFpci B0aGUgTS5Q LiBFdmFucy BHcm91cCBj b21wYW554o CZcyBlY29u b21pY3Mgb3 ZlciB0aGUg bmV4dCAz4o CTNSB5ZWFy cyBpcyBhIH NpZ25pZmlj YW50IGFuZC Bwcm9sb25n ZWQgZGVjbG luZSBpbiBw YWxtIG9pbC BwcmljZXMg ZHVlIHRvIG Vudmlyb25t ZW50YWwgcm VndWxhdGlv bnMgYW5kIH NoaWZ0aW5n IGNvbnN1bW VyIHByZWZl cmVuY2VzIH Rvd2FyZCBz dXN0YWluYW JsZSBwcm9k dWN0cy4gSW YgZ2xvYmFs IGF3YXJlbm VzcyBvZiBk ZWZvcmVzdG F0aW9uIGFu ZCBsYW5kLX VzZSBjaGFu Z2VzIHJlbG F0ZWQgdG8g cGFsbSBvaW wgY3VsdGl2 YXRpb24gY2 9udGludWVz IHRvIHJpc2 UsIHJlZ3Vs YXRvcnkgcH Jlc3N1cmUg Y291bGQgbG VhZCB0byBz dHJpY3Rlci BndWlkZWxp bmVzIGFuZC Bwb3RlbnRp YWxseSByZW R1Y2VkIGRl bWFuZCBmb3 IgcGFsbSBv aWwgcHJvZH VjdHMuPGJy PkluIHN1Y2 ggYSBzY2Vu YXJpbywgTS 5QLiBFdmFu cyBHcm91cC Bjb3VsZCBl eHBlcmllbm NlIGEgZGVj bGluZSBpbi ByZXZlbnVl IGFzIHByaW NlcyBkcm9w LiBUaGlzIG NvdWxkIGxl YWQgdG8gcm VkdWNlZCBt YXJnaW5zLC BwYXJ0aWN1 bGFybHkgaW YgdGhlIGNv bXBhbnkgaG FzIGZpeGVk IGNvc3RzIH RoYXQgZG8g bm90IHNjYW xlIGRvd24g aW4gcHJvcG 9ydGlvbiB0 byByZXZlbn VlIGRlY3Jl YXNlcy4gT3 BlcmF0aW5n IG1hcmdpbn MsIHdoaWNo IG1heSBoYX ZlIGJlZW4g aGVhbHRoeS BkdWUgdG8g aGlnaCBwYW xtIG9pbCBw cmljZXMgaW 4gcHJldmlv dXMgeWVhcn MsIGNvdWxk IHNocmluay BzaWduaWZp Y2FudGx5LC Bwb3RlbnRp YWxseSBmYW xsaW5nIGJl bG93IGJyZW FrZXZlbiBs ZXZlbHMuPG JyPkNhc2gg ZmxvdyB3b3 VsZCBhbHNv IGJlIHNldm VyZWx5IGlt cGFjdGVkLC BhcyByZWR1 Y2VkIHJldm VudWUgd291 bGQgbGVhZC B0byBsb3dl ciBjYXNoIG luZmxvd3Mu IElmIHRoZS Bjb21wYW55 IHdhcyBwcm V2aW91c2x5 IHJlbGlhbn Qgb24gYSBz dGVhZHkgY2 FzaCBmbG93 IGZvciBvcG VyYXRpb25h bCBleHBlbn NlcyBhbmQg Y2FwaXRhbC BpbnZlc3Rt ZW50cywgaX QgY291bGQg ZmFjZSBsaX F1aWRpdHkg aXNzdWVzLi BJbiB0aGlz IGNhc2UsIH RoZSBjb21w YW55IG1pZ2 h0IG5lZWQg dG8gbGV2ZX JhZ2UgZGVi dCBvciBkaX AgaW50byBy ZXNlcnZlcy B0byBtYWlu dGFpbiBvcG VyYXRpb25z LCBmdXJ0aG VyIHN0cmFp bmluZyBpdH MgZmluYW5j aWFsIHBvc2 l0aW9uLjxi cj5UaGUgYm FsYW5jZSBz aGVldCB3b3 VsZCByZWZs ZWN0IHRoZX NlIGNoYW5n ZXMgd2l0aC BpbmNyZWFz ZWQgbGlhYm lsaXRpZXMg aWYgdGhlIG NvbXBhbnkg dG9vayBvbi BhZGRpdGlv bmFsIGRlYn QgdG8gbmF2 aWdhdGUgdG hpcyBjaGFs bGVuZ2luZy BwZXJpb2Qu IEFzc2V0IH ZhbHVlcyBj b3VsZCBhbH NvIGRlY2xp bmUgaWYgdG hlIGxhbmQg YW5kIG9wZX JhdGlvbmFs IGFzc2V0cy Bhc3NvY2lh dGVkIHdpdG ggcGFsbSBv aWwgcHJvZH VjdGlvbiBs b3NlIHZhbH VlIG9yIGFy ZSBkZWVtZW QgbGVzcyBk ZXNpcmFibG UgZHVlIHRv IG1hcmtldC BwZXJjZXB0 aW9ucyBhbm QgY29uc3Vt ZXIgZGVtYW 5kIHNoaWZ0 aW5nIHRvd2 FyZHMgYWx0 ZXJuYXRpdm UgcHJvZHVj dHMuPGJyPk luIHN1bW1h cnksIGluIG Egc2NlbmFy aW8gb2YgZG VjbGluaW5n IHBhbG0gb2 lsIHByaWNl cyBkcml2ZW 4gYnkgaW5j cmVhc2VkIH JlZ3VsYXRp b24gYW5kIG NoYW5naW5n IGNvbnN1bW VyIHByZWZl cmVuY2VzLC BNLlAuIEV2 YW5zIEdyb3 VwIGNvdWxk IGZhY2Ugcm VkdWNlZCBt YXJnaW5zLC BuZWdhdGl2 ZSBjYXNoIG Zsb3csIGFu ZCBhIHdlYW tlbmVkIGJh bGFuY2Ugc2 hlZXQsIGNy ZWF0aW5nIG xvbmctdGVy bSBjaGFsbG VuZ2VzIGZv ciB0aGUgY2 9tcGFueeKA mXMgc3VzdG FpbmFiaWxp dHkgYW5kIG dyb3d0aCBw cm9zcGVjdH MuPGJyPg==

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 bG9nb3Mvdz dKa09qZWJX UnJWeWFRVE tTV2Mud2Vi cCIgYWx0PS JNLlAuIEV2 YW5zIEdyb3 VwIiB0aXRs ZT0iTS5QLi BFdmFucyBH cm91cCIgIG NsYXNzPSJp bWctZmx1aW QiIGhlaWdo dD01MCB3aW R0aD01MCBs b2FkaW5nPS dsYXp5JyBz dHlsZT0nYm 9yZGVyLXJh ZGl1czogNn B4Oyc+Cgog ICAgICAgIC AgICAgICAg ICAgIDxkaX Ygc3R5bGU9 J2ZsZXg6ID E7IHRleHQt YWxpZ246IG NlbnRlcjsg bWFyZ2luLW xlZnQ6IDVw eDsnPgogIC AgICAgICAg ICAgICAgIC AgICAgICA8 cCBzdHlsZT 0nZm9udC1z aXplOiAyNn B4OyBjb2xv cjogIzMzMz sgbWFyZ2lu LWJvdHRvbT ogMTVweDsn PgogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg 8J+TiCBXYW 50IHRvIHJl YWQgbW9yZS BhYm91dCBN LlAuIEV2YW 5zIEdyb3Vw 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+TliBH ZXQgaW5zaW dodHMgZnJv bSA8aT4iVG hlIENoZWNr bGlzdCBWYW x1ZSBJbnZl c3RvciDigJ QgQSBTbWFy dGVyIFdheS B0byBQaWNr IFN0b2Nrcy I8L2k+IG5v dyEKICAgIC AgICAgICAg ICAgICAgIC AgICAgPC9w PgoKICAgIC AgICAgICAg ICAgICAgIC AgICAgPCEt LQogICAgIC AgICAgICAg ICAgICAgIC AgICA8ZGl2 IHN0eWxlPS dtYXJnaW4t dG9wOiAxMn B4OyBmb250 LXNpemU6ID EzcHg7IGNv bG9yOiAjND Q0Oyc+CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBTaWdu IHVwIG5vdy BhbmQgZ2V0 IG91ciBmcm VlIGVCb29r IAogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg PGI+VGhlIE NoZWNrbGlz dCBWYWx1ZS BJbnZlc3Rv ciDigJQgQS BTbWFydGVy IFdheSB0by BQaWNrIFN0 b2NrczwvYj 4KICAgICAg ICAgICAgIC AgICAgICAg ICAgPC9kaX Y+CiAgICAg ICAgICAgIC AgICAgICAg ICAgIC0tPg ogICAgICAg ICAgICAgIC AgICAgICAg ICA8IS0tCi AgICAgICAg ICAgICAgIC AgICAgICAg IDxkaXYgc3 R5bGU9J21h cmdpbi10b3 A6IDE2cHg7 IGZvbnQtc2 l6ZTogMTRw eDsgY29sb3 I6ICM0NDQ7 IGZvbnQtZm FtaWx5OiAt YXBwbGUtc3 lzdGVtLCBC bGlua01hY1 N5c3RlbUZv bnQsIFNlZ2 9lIFVJLCBS b2JvdG8sIE hlbHZldGlj YSBOZXVlLC BzYW5zLXNl cmlmOyBsaW 5lLWhlaWdo dDogMS42Oy c+CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC BIYXZlIHlv dSBoZWFyZC BhYm91dCBv dXIgc2hvcn QgPHN0cm9u ZyBzdHlsZT 0nZm9udC13 ZWlnaHQ6ID YwMDsnPkRh aWx5IFZpZG VvIE5ld3Ns ZXR0ZXI8L3 N0cm9uZz4/ CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICA8 YSBocmVmPS dodHRwczov L3d3dy5pbn NpZ2h0ZnVs dmFsdWUuY2 9tL25ld3Ns ZXR0ZXIucG hwJyB0YXJn ZXQ9J19ibG Fuaycgc3R5 bGU9J2NvbG 9yOiAjMDA3 QkZGOyB0ZX h0LWRlY29y YXRpb246IG 5vbmU7IGZv bnQtd2VpZ2 h0OiA1MDA7 IG1hcmdpbi 1sZWZ0OiA2 cHg7Jz4KIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC BGaW5kIG91 dCBtb3JlCi AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICA8L2 E+CiAgICAg ICAgICAgIC AgICAgICAg ICAgIDwvZG l2PgogICAg ICAgICAgIC AgICAgICAg ICAgICAtLT 4KICAgICAg ICAgICAgIC AgICAgICA8 L2Rpdj4KIC AgICAgICAg ICAgICAgID wvZGl2Pgog ICAgICAgIC AgICA8L2Rp dj4KICAgIC AgICAgICAg CiAgICAgIC AgCiAgICAg ICAgPHNwYW 4gY2xhc3M9 J2JsdXJyZW QtdGV4dCc+ CiAgICAgIC AgICAgIExT QlVhR1VnVF MgNVFMaUJG ZG1GdSBjeU JIY205MWND IEIzWVhNZ1 ptOTEgYm1S bFpDQnBiaS BBeE9EYzNJ R0o1IElFMW hiR052Ykcg MGdVR1YwWl hJZyBSWFpo Ym5Nc0lHIE VnUW5KcGRH bHogYUNCdF pYSmphRyBG dWRDQmhibV FnIFltOTBZ VzVwYzMgUX VQR0p5UGkw ZyBWR2hsSU dOdmJYIEJo Ym5uaWdKbH ogSUhCeWFX MWhjbiBrZ1 luVnphVzVs IGMzTWdhWE 1nYVcgNGdi MmxzSUhCaC BiRzBnY0d4 aGJuIFJoZE dsdmJuTXMg SUdKMWRDQn BkQyBCaGJI TnZJR2hoIG N5QnBiblJs Y20gVnpkSE 1nYVc0ZyBj blZpWW1WeU xDIEJqYjJO dllTd2cgWV c1a0lHTnZZ MiA5dWRYUW djR3hoIGJu UmhkR2x2Ym 4gTXVQR0p5 UGkwZyBWR2 hsSUdOdmJY IEJoYm5uaW dKbHogSUcx aGFXNGdiMy BCbGNtRjBh Vzl1IGN5Qm hjbVVnYkcg OWpZWFJsWk NCcCBiaUJK Ym1SdmJtIF Z6YVdFZ1lX NWsgSUUxaG JHRjVjMiBs aExDQjNhR1 Z5IFpTQnBk Q0J2ZDIgNX pJR0Z1WkNC dCBZVzVoWj JWeklHIDky WlhJZ01UUT IgTERBd01D Qm9aVyBOMF lYSmxjeUJ2 IFppQnNZVz VrTGogeGlj ajR0SUVsdS BJREU1TWpF c0lIIFJvWl NCTkxsQXUg SUVWMllXNX pJRSBkeWIz VndJSGRoIG N5QnZibVVn YjIgWWdkR2 hsSUdacCBj bk4wSUdOdm JYIEJoYm1s bGN5QjAgYn lCcGJuUnli MiBSMVkyVW dhSGxpIGNt bGtJSEJzWV cgNTBjeUIw YnlCcCBkSE 1nY0dGc2JT IEJ2YVd3Z2 NHeGggYm5S aGRHbHZibi BNdUlGUm9h WE1nIGFXNW pjbVZoYzIg VmtJSFJvWl NCdyBjbTlr ZFdOMGFYIF pwZEhrZ1lX NWsgSUhGMV lXeHBkSCBr Z2IyWWdhWF J6IElHOXBi Q0J3WVcgeH RJR055YjNC eiBManhpY2 o0dElFIGx1 SUdGa1pHbD AgYVc5dUlI UnZJRyBsMG N5QndiR0Z1 IGRHRjBhVz l1Y3kgd2dk R2hsSUUwdS BVQzRnUlha aGJuIE1nUj NKdmRYQWcg WVd4emJ5Qn ZkMiA1eklH RWdjR0ZzIG JTQnZhV3dn YlcgbHNiQ0 JoYm1RZyBZ U0J3YjNkbG NpIEJ3YkdG dWRDQnAgYm lCSmJtUnZi bSBWemFXRX VQR0p5IFBp MGdWR2hsSU cgTnZiWEJo Ym5rZyBhWE 1nWTI5dGJX IGwwZEdWa0 lIUnYgSUhO MWMzUmhhVy A1aFltbHNh WFI1IElHRn VaQ0JvWVgg TWdhVzVwZE dsaCBkR2wy WlhNZ2FXID RnY0d4aFky VWcgZEc4Z1 pXNXpkWCBK bElIUm9ZWF FnIGFYUnpJ Rzl3WlggSm hkR2x2Ym5N ZyBZWEpsSU dWdWRtIGx5 YjI1dFpXNT AgWVd4c2VT QmhibSBRZ2 MyOWphV0Zz IGJIa2djbV Z6Y0cgOXVj MmxpYkdVdS BQR0p5UGkw Z1RTIDVRTG lCRmRtRnUg Y3lCSGNtOT FjTyBLQW1Y TWdjSEpwIG JXRnllU0Jq ZFggTjBiMj FsY25NZyBZ WEpsSUcxaG FtIDl5SUds dWRHVnkgYm 1GMGFXOXVZ VyB3Z1ptOX ZaQ0JqIGIy MXdZVzVwWl ggTXNJSGRv YVdObyBJSF Z6WlNCcGRI IE1nY0dGc2 JTQnYgYVd3 Z2FXNGdkRy BobGFYSWdj SEp2IFpIVm pkSE11UEcg SnlQaTBnVk dobCBJR052 YlhCaGJuIG tnYUdGeklH SmwgWlc0Z2 JHbHpkRyBW a0lHOXVJSF JvIFpTQk1i MjVrYjIgNG dVM1J2WTJz ZyBSWGhqYU dGdVoyIFVn YzJsdVkyVW cgTVRrNE55 QmhibSBRZ2 FYTWdhVzVq IGJIVmtaV1 FnYjIgNGdk R2hsSUVaVS BVMFVnTWpV d0lHIGx1Wk dWNExqeGkg Y2o0dElFbH VJRCBJd01U a3NJRTB1IF VDNGdSWFpo Ym4gTWdSM0 p2ZFhBZyBZ V054ZFdseV pXIFFnWVNB ek9DVWcgYV c1MFpYSmxj MyBRZ2FXNG dVRlFnIFFX ZHlieUJOZF cgdHZMQ0Jo SUhCaCBiRz BnYjJsc0lI IEJ5YjJSMV kyVnkgSUds dUlFbHVaRy A5dVpYTnBZ U3dnIFpuVn lkR2hsY2kg QmxlSEJoYm 1ScCBibWNn YVhSeklIIE J5WlhObGJt TmwgSUdsdU lIUm9aUyBC cGJtUjFjM1 J5IGVTNDhZ bkkrTFMgQl VhR1VnWTI5 dCBjR0Z1ZV NCb1lYIE1n WVNCemRXSn ogYVdScFlY SjVJRyBOaG JHeGxaQ0JX IFlXNGdSMl Z1Ym0gVndM Q0IzYUdsai BhQ0J6Y0dW amFXIEZzYV hwbGN5QnAg YmlCMGFHVW djSCBKdlpI VmpkR2x2IG JpQmhibVFn YzIgRnNaU0 J2WmlCeSBk V0ppWlhJZ1 lXIDVrSUdO dlkyOWggTG lCVWFHbHpJ RyBScGRtbH phVzl1IElH OXdaWEpoZE cgVnpJR2x1 SUVkbyBZVz VoTENCVGFX IFZ5Y21FZ1 RHVnYgYm1V c0lHRnVaQy BCSmJtUnZi bVZ6IGFXRX UKICAgICAg ICA8L3NwYW 4+CiAgICAg ICAgCiAgIC AgICAg