Financiere de Tubize

Live  

Financiere de Tubize is a holding company based in Belgium that primarily invests in industrial, financial, and real estate companies. It was founded in 1968 and is headquartered in the city of Tubize.
The company is listed on the Euronext Brussels stock exchange and has a diverse portfolio of investments in various industries including banking, energy, telecommunications, and sports. Its key holdings include a stake in the international bank BNP Paribas, a partnership with the Belgian telecommunications company Proximus, and majority ownership of the Belgian professional soccer team RSC Anderlecht.
As a holding company, Financiere de Tubize does not have any specific operational activities and generates revenue primarily through dividends and capital gains from its investments. It is known for having a conservative and long-term investment strategy, with a focus on stable and profitable companies.
The company is publicly traded and is subject to regulatory requirements and reporting responsibilities. It is also subject to the decisions and performance of the companies in which it has investments.
Financiere de Tubize is also committed to sustainable and responsible investing practices, and values transparency, integrity, and strong corporate governance.
In summary, Financiere de Tubize is a reputable and stable holding company with a diverse portfolio of investments in various industries. Its long-term approach and commitment to responsible investing make it a reliable choice for investors.

Financière de Tubize is a company that is involved in something called investment. Think of it like a giant piggy bank that helps other businesses grow by giving them money when they need it.
Here’s how it works: just like when you want to buy a cool new toy but don’t have enough money, companies sometimes need extra cash to pay for new projects or to help them keep running. Financière de Tubize finds these companies and invests its money to help them out. In return, when those businesses do really well, they share some of their profits with Financière de Tubize. It’s like when you buy a toy with your allowance, and then when you lend it to a friend, if they pay you a little bit for borrowing it, you make money!
Financière de Tubize has been successful so far for a few reasons. First, it knows a lot about how businesses work and which ones are likely to do well. This means it can pick smart investments that will grow and make money. Second, once it invests in a company, it also tries to help it grow even more, so both the company and Financière de Tubize can earn extra money together.
To keep being successful in the future, Financière de Tubize is likely to continue finding good companies to invest in and helping them grow. Plus, as more people start businesses or want to get better at what they do, there will always be a need for money to help them succeed. So, as long as they keep making good choices, they can keep making money and have a bright future.

RmluYW5jaW VyZSBkZSBU dWJpemUgaX MgYSBCZWxn aWFuIGhvbG RpbmcgY29t cGFueSB0aG F0IGlzIGtu b3duIGZvci BpdHMgaGln aGx5IGRpdm Vyc2lmaWVk IGludmVzdG 1lbnQgcG9y dGZvbGlvIG FuZCBpdHMg bG9uZyBoaX N0b3J5IGlu IHRoZSBmaW 5hbmNpYWwg c2VjdG9yLi BTb21lIG9m IHRoZSBub3 RhYmxlIGZl YXR1cmVzIH RoYXQgbWFr ZSB0aGlzIG NvbXBhbnkg dW5pcXVlIG FyZTo8YnI+ MS4gT3duZX JzaGlwOiBG aW5hbmNpZX JlIGRlIFR1 Yml6ZSBpcy BtYWpvcml0 eSBvd25lZC BieSBCZWxn aWFuIGJpbG xpb25haXJl IGFuZCBtZW RpYSBtb2d1 bCBBbGJlcn QgRnLDqHJl LCB3aGljaC BnaXZlcyB0 aGUgY29tcG FueSBzdHJv bmcgZmluYW 5jaWFsIGJh Y2tpbmcgYW 5kIHN0YWJp bGl0eS48Yn I+Mi4gRGl2 ZXJzaWZpZW QgaW52ZXN0 bWVudHM6IF RoZSBjb21w YW55IGhhcy BhIGRpdmVy c2lmaWVkIG ludmVzdG1l bnQgcG9ydG ZvbGlvIHRo YXQgaW5jbH VkZXMgc2hh cmVzIGluIG 1ham9yIGNv bXBhbmllcy BzdWNoIGFz IFRvdGFsLC BFbmdpZSwg YW5kIEFkaW RhcywgYXMg d2VsbCBhcy ByZWFsIGVz dGF0ZSBhc3 NldHMsIHBy b3ZpZGluZy BhIGJhbGFu Y2VkIGFuZC ByZXNpbGll bnQgZmluYW 5jaWFsIGJh c2UuPGJyPj MuIExvbmdl dml0eTogRm luYW5jaWVy ZSBkZSBUdW JpemUgd2Fz IGZvdW5kZW QgaW4gMTky MywgbWFraW 5nIGl0IG9u ZSBvZiB0aG Ugb2xkZXN0 IGludmVzdG 1lbnQgY29t cGFuaWVzIG luIEJlbGdp dW0uIEl0cy Bsb25nLXN0 YW5kaW5nIH ByZXNlbmNl IGluIHRoZS BmaW5hbmNp YWwgbWFya2 V0IGdpdmVz IGl0IGEgcm VwdXRhdGlv biBmb3Igcm VsaWFiaWxp dHkgYW5kIG V4cGVyaWVu Y2UuPGJyPj QuIFN0cmF0 ZWdpYyBwYX J0bmVyc2hp cHM6IFRoZS Bjb21wYW55 IGhhcyBmb3 JtZWQgc3Ry YXRlZ2ljIH BhcnRuZXJz aGlwcyB3aX RoIG1ham9y IHBsYXllcn MgaW4gdGhl IGZpbmFuY2 lhbCBpbmR1 c3RyeSwgc3 VjaCBhcyB0 aGUgQmVsZ2 lhbiBiYW5r IEtCQyBHcm 91cCBhbmQg dGhlIEZyZW 5jaCBpbnZl c3RtZW50IG NvbXBhbnkg RmltYWxhYy wgdG8gc3Ry ZW5ndGhlbi BpdHMgcG9z aXRpb24gaW 4gdGhlIG1h cmtldC48Yn I+NS4gU3Ry b25nIGZpbm FuY2lhbCBw ZXJmb3JtYW 5jZTogRGVz cGl0ZSBtYX JrZXQgZmx1 Y3R1YXRpb2 5zLCBGaW5h bmNpZXJlIG RlIFR1Yml6 ZSBoYXMgYS Bjb25zaXN0 ZW50IHRyYW NrIHJlY29y ZCBvZiBwcm 9maXRhYmxl IGZpbmFuY2 lhbCBwZXJm b3JtYW5jZS wgaW5kaWNh dGluZyBpdH Mgc3Ryb25n IG1hbmFnZW 1lbnQgYW5k IGludmVzdG 1lbnQgZGVj aXNpb25zLj xicj42LiBD b3Jwb3JhdG Ugc29jaWFs IHJlc3Bvbn NpYmlsaXR5 OiBUaGUgY2 9tcGFueSBo YXMgYSBzdH JvbmcgY29t bWl0bWVudC B0byBjb3Jw b3JhdGUgc2 9jaWFsIHJl c3BvbnNpYm lsaXR5IGFu ZCBoYXMgaW 1wbGVtZW50 ZWQgc3VzdG FpbmFibGUg cHJhY3RpY2 VzIGluIGl0 cyBvcGVyYX Rpb25zLCBz dWNoIGFzIH JlZHVjaW5n IGl0cyBjYX Jib24gZm9v dHByaW50IG FuZCBwcm9t b3RpbmcgZG l2ZXJzaXR5 IGFuZCBpbm NsdXNpb24u PGJyPjcuIF RyYW5zcGFy ZW5jeTogRm luYW5jaWVy ZSBkZSBUdW JpemUgaXMg a25vd24gZm 9yIGl0cyB0 cmFuc3Bhcm VudCBhbmQg ZXRoaWNhbC BidXNpbmVz cyBwcmFjdG ljZXMsIHdo aWNoIHJlaW 5mb3JjZXMg aW52ZXN0b3 IgY29uZmlk ZW5jZSBpbi B0aGUgY29t cGFueeKAmX Mgb3BlcmF0 aW9ucy48Yn I+T3ZlcmFs bCwgRmluYW 5jaWVyZSBk ZSBUdWJpem Ugc3RhbmRz IG91dCBhcy BhIHJlcHV0 YWJsZSwgc3 RhYmxlLCBh bmQgZGl2ZX JzaWZpZWQg aW52ZXN0bW VudCBjb21w YW55IHdpdG ggYSBsb25n IGhpc3Rvcn kgYW5kIHN0 cm9uZyBmaW 5hbmNpYWwg cGVyZm9ybW FuY2Uu

VGhlIEZpbm FuY2llcmUg ZGUgVHViaX plIGNvbXBh bnnigJlzIG J1c2luZXNz IG1vZGVsIG lzIHByaW1h cmlseSBmb2 N1c2VkIG9u IGludmVzdG 1lbnRzIGFu ZCBob2xkaW 5nIHNoYXJl cyBpbiB2YX Jpb3VzIGNv bXBhbmllcy 4gSXQgaXMg YSBmaW5hbm NpYWwgaG9s ZGluZyBjb2 1wYW55IHRo YXQgc3BlY2 lhbGl6ZXMg aW4gbG9uZy 10ZXJtIG9y aWVudGVkIG ludmVzdG1l bnRzIGluIG JvdGggbGlz dGVkIGFuZC B1bmxpc3Rl ZCBjb21wYW 5pZXMsIHdp dGggYSBmb2 N1cyBvbiB0 aGUgQmVsZ2 lhbiBhbmQg RXVyb3BlYW 4gbWFya2V0 cy4gSXQgYW xzbyBwcm92 aWRlcyBmaW 5hbmNpYWwg c3VwcG9ydC BhbmQgc2Vy dmljZXMsIG luY2x1ZGlu ZyBmaW5hbm NpYWwgYW5k IHN0cmF0ZW dpYyBhZHZp Y2UsIHRvIG l0cyBzdWJz aWRpYXJpZX MgYW5kIHBv cnRmb2xpby Bjb21wYW5p ZXMuPGJyPl RoZSBjb21w YW554oCZcy BpbnZlc3Rt ZW50IHN0cm F0ZWd5IGlz IGJhc2VkIG 9uIGEgZGl2 ZXJzaWZpZW QgcG9ydGZv bGlvIG9mIG hvbGRpbmdz IGluIHZhcm lvdXMgc2Vj dG9ycyBzdW NoIGFzIGlu ZHVzdHJpYW wsIGZpbmFu Y2lhbCwgYW 5kIHNlcnZp Y2VzLiBJdC BzZWVrcyB0 byBpZGVudG lmeSBhbmQg aW52ZXN0IG luIGNvbXBh bmllcyB3aX RoIHBvdGVu dGlhbCBmb3 IgbG9uZy10 ZXJtIGdyb3 d0aCBhbmQg dmFsdWUgY3 JlYXRpb24u PGJyPkluIG FkZGl0aW9u LCBGaW5hbm NpZXJlIGRl IFR1Yml6ZS BhbHNvIGVu Z2FnZXMgaW 4gaW52ZXN0 bWVudCBhY3 Rpdml0aWVz IHN1Y2ggYX MgcHJvdmlk aW5nIGxvYW 5zIGFuZCBn dWFyYW50ZW VzIHRvIGl0 cyBzdWJzaW RpYXJpZXMg YW5kIHBvcn Rmb2xpbyBj b21wYW5pZX MsIGFzIHdl bGwgYXMgbW FraW5nIHN0 cmF0ZWdpYy BhY3F1aXNp dGlvbnMgYW 5kIGRpdmVz dG1lbnRzIH RvIG9wdGlt aXplIGl0cy Bwb3J0Zm9s aW8uPGJyPk 92ZXJhbGws IHRoZSBjb2 1wYW55IGFp bXMgdG8gZ2 VuZXJhdGUg c3VzdGFpbm FibGUgcmV0 dXJucyBhbm QgY3JlYXRl IHZhbHVlIG ZvciBpdHMg c2hhcmVob2 xkZXJzIHRo cm91Z2ggYS Bjb21iaW5h dGlvbiBvZi B0YXJnZXRl ZCBpbnZlc3 RtZW50cywg ZWZmZWN0aX ZlIHBvcnRm b2xpbyBtYW 5hZ2VtZW50 LCBhbmQgc2 91bmQgZmlu YW5jaWFsIG 1hbmFnZW1l bnQu

To assess whether AI poses a material threat to Financiere de Tubize’s products, services, or competitive positioning, it is essential to consider several factors related to the company’s operations and the potential implications of AI technology.
1. Substitution: AI has the potential to create new products or enhance existing ones across various industries. If Financiere de Tubize operates in sectors where AI can automate processes, improve efficiencies, or offer better user experiences, it could face substitution threats. For instance, if the company is involved in financial services, AI-driven platforms might offer clients faster trade execution or more sophisticated analytics than traditional offerings.
2. Disintermediation: AI has the capability to streamline operations and reduce the need for intermediaries in many financial transactions. If the company’s services involve intermediaries, such as brokers or financial advisors, AI advancements could lead to direct-to-consumer models that bypass traditional middleman roles. This could impact the company’s business model and revenue streams.
3. Margin Pressure: The integration of AI can lead to enhanced competition, as companies that effectively leverage AI may be able to offer lower prices or improved services. If Financiere de Tubize’s competitors adopt AI technology faster and more effectively, this could result in margin pressures for the company. Reduced costs and increased efficiencies among competitors might force Financiere de Tubize to lower its prices or invest more heavily in innovation to maintain market share.
4. Adaptation and Innovation: While there are potential threats, AI also presents opportunities for enhancement. The company can adopt AI technologies to improve its operational efficiency, enhance customer offerings, or develop new services. Organizations that proactively integrate AI into their business models may find ways to mitigate competitive threats.
5. Regulatory Environment: The implications of AI technology are also influenced by regulatory frameworks. If regulations evolve in a way that favors AI-enabled systems or disrupts traditional business operations, Financiere de Tubize may need to adapt its strategies accordingly.
In conclusion, AI does pose potential threats to Financiere de Tubize through various avenues such as substitution, disintermediation, and margin pressure. The extent of these threats will depend on the company’s ability to adapt to technological advancements, its current market positioning, and its willingness to innovate in response to these challenges.

The sensitivity of Financiere de Tubize’s earnings, cash flow, and valuation to changes in interest rates can vary based on several factors related to the company’s financial structure and market conditions.
1. Earnings Sensitivity: If Financiere de Tubize carries a significant amount of debt, an increase in interest rates could lead to higher interest expenses, thus negatively impacting net earnings. Conversely, if the company has substantial income from investments that are sensitive to interest rates, changes could also affect revenues. Variables like pricing power, operating efficiency, and industry conditions play a role in how these earnings react.
2. Cash Flow Sensitivity: Cash flow may be impacted by interest rate changes, particularly if the company is leveraging debt. Increased rates could lead to higher cash outflows for interest payments, thus reducing free cash flow. However, if the company’s revenue model is resilient and can pass costs onto consumers, the impact might be mitigated.
3. Valuation Sensitivity: Valuation techniques often rely on discounted cash flow (DCF) models, which are sensitive to discount rates. Higher interest rates typically increase the discount rate, reducing the present value of future cash flows and negatively impacting the company’s valuation. If market conditions or investor sentiment change with interest rates, this could also lead to volatility in stock prices, influencing overall market valuation.
These effects can vary based on the company’s specific financial situation, its industry, and broader economic factors, making it essential to analyze the context in which the changes occur.

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 bG9nb3MvbX RITlpkdzdS VjM2eFNHMW hBejcud2Vi cCIgYWx0PS JGaW5hbmNp ZXJlIGRlIF R1Yml6ZSIg dGl0bGU9Ik ZpbmFuY2ll cmUgZGUgVH ViaXplIiAg Y2xhc3M9Im ltZy1mbHVp ZCIgaGVpZ2 h0PTkwIHdp ZHRoPTkwIG xvYWRpbmc9 J2xhenknIH N0eWxlPSdi b3JkZXItcm FkaXVzOiA2 cHg7Jz4KCi AgICAgICAg ICAgICAgIC AgICAgPGRp diBzdHlsZT 0nZmxleDog MTsgdGV4dC 1hbGlnbjog Y2VudGVyOy BtYXJnaW4t bGVmdDogNX B4Oyc+CiAg ICAgICAgIC AgICAgICAg ICAgICAgID xwIHN0eWxl PSdmb250LX NpemU6IDI2 cHg7IGNvbG 9yOiAjMzMz OyBtYXJnaW 4tYm90dG9t OiAxNXB4Oy c+CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Dwn5OIIFdh bnQgdG8gcm VhZCBtb3Jl IGFib3V0IE ZpbmFuY2ll cmUgZGUgVH ViaXplPwog 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 +TmiBZb3Vy IGZyZWUgY2 9weSBvZiA8 aT4iVGhlIE NoZWNrbGlz dCBWYWx1ZS BJbnZlc3Rv ciDigJQgQS BTbWFydGVy IFdheSB0by BQaWNrIFN0 b2NrcyI8L2 k+IGlzIHdh aXRpbmcKIC 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 IFUyOXRaU0 JwYm4gUmxj bVZ6ZEdsdS BaeUJtWVdO MGN5IEJwYm 1Oc2RXUmwg T2p4aWNqNH hMaSBCR2FX NWhibU5wIF pYSmxJR1Js SUYgUjFZbW w2WlNCcCBj eUJoSUVKbG JHIGRwWVc0 Z2FHOXMgWk dsdVp5Qmpi MiAxd1lXNT VJSFJvIFlY UWdkMkZ6SU cgVnpkR0Zp YkdseiBhR1 ZrSUdsdUlE IEU0TnpJdV BHSnkgUGpJ dUlGUm9aUy BCamIyMXdZ VzU1IElHbH pJR3hwYzMg UmxaQ0J2Ym lCMCBhR1Vn UW5KMWMzIE 5sYkhNZ1Uz UnYgWTJzZ1 JYaGphRyBG dVoyVWdZVz VrIElHbHpJ R05zWVggTn phV1pwWldR ZyBZWE1nWV NCa2FYIFps Y25OcFptbG wgWkNCb2Iy eGthVyA1bk lHTnZiWEJo IGJua3VQR0 p5UGogTXVJ RVpwYm1GdS BZMmxsY21V Z1pHIFVnVk hWaWFYcGwg NG9DWmN5Qn RZVyBsdUlH RmpkR2wyIG FYUnBaWE1n WVggSmxJR1 p2WTNWeiBa V1FnYjI0Z2 JXIEZ1WVdk cGJtY2cgYV hSeklIWmhj bSBsdmRYTW dhVzUyIFpY TjBiV1Z1ZE ggTWdhVzRn WkdsbSBabV Z5Wlc1MElH IGx1WkhWem RISnAgWlhN c0lITjFZMi BnZ1lYTWdi V1ZrIGFXRX NJSFJsYkcg VmpiMjF0ZF c1cCBZMkYw YVc5dWN5IH dnWVc1a0lH VnUgWlhKbm VTNDhZbiBJ K05DNGdWR2 hsIElHTnZi WEJoYm4ga2 dhR0Z6SUdF ZyBjMmxuYm 1sbWFXIE5o Ym5RZ2MyaG ggY21Wb2Iy eGthVyA1bk lHbHVJSFJv IFpTQkNaV3 huYVcgRnVJ SFJsYkdWai BiMjF0ZFc1 cFkyIEYwYV c5dWN5Qmog YjIxd1lXNT VJRiBCeWIz aHBiWFZ6IE xDQm9iMnhr YVcgNW5JR0 VnTXpBbCBJ SE4wWVd0bE xqIHhpY2o0 MUxpQkogYm lCaFpHUnBk RyBsdmJpQj BieUJRIGNt OTRhVzExY3 kgd2dSbWx1 WVc1aiBhV1 Z5WlNCa1pT IEJVZFdKcG VtVWcgWVd4 emJ5Qm9ZWC BNZ2FXNTJa WE4wIGJXVn VkSE1nYVcg NGdjMlYyWl hKaCBiQ0J2 ZEdobGNpIE JqYjIxd1lX NXAgWlhNc0 lHbHVZMiB4 MVpHbHVaeU JIIGNtOTFj R1VnUW4gSj FlR1ZzYkdW eiBJRXhoYl dKbGNuIFFz SUdGdUlHbH UgWkhWemRI SnBZVyB3Z2 FHOXNaR2x1 IFp5QmpiMj F3WVcgNTVM Q0JoYm1RZy BRbVZzWjJs aGJpIEJ1Wl hkemNHRncg WlhJZ2NIVm liRyBsemFH VnlJRTFsIF pHbGhhSFZw Y3kgNDhZbk krTmk0ZyBW R2hsSUcxaG FtIDl5YVhS NUlHOW0gSU VacGJtRnVZ MiBsbGNtVW daR1VnIFZI VmlhWHBsNG 8gQ1pjeUJ6 YUdGeSBaWE 1nWVhKbElH IDkzYm1Wa0 lHSjUgSUhS b1pTQkNaVy B4bmFXRnVJ R0pwIGJHeH BiMjVoYVgg SmxJR0Z1Wk NCcCBibVIx YzNSeWFXIE ZzYVhOMElF RnMgWW1WeW RDQkdjbSBW eVpTd2dkMm h2IElHRnNj MjhnYzIgVn lkbVZ6SUdG eiBJSFJvWl NCamIyIDF3 WVc1NTRvQ1 ogY3lCamFH RnBjbSAxaG JpNDhZbkkr IE55NGdSbW x1WVcgNWph V1Z5WlNCay BaU0JVZFdK cGVtIFVnYU dGeklHRWcg YzNSeWIyNW 5JRyBacGJt RnVZMmxoIG JDQndiM05w ZEcgbHZiaX dnZDJsMCBh Q0JoSUdobF lXIHgwYUhr Z1kyRnogYU NCbWJHOTNJ RyBGdVpDQm hiaUJwIGJu WmxjM1J0Wl cgNTBJSEJ2 Y25SbSBiMn hwYnlCM2Iz IEowYUNCdm RtVnkgSURF Z1ltbHNiRy BsdmJpQmxk WEp2IGN5ND hZbkkrT0Mg NGdWR2hsSU dOdiBiWEJo Ym5rZ2FHIE Z6SUdFZ2JH OXUgWnlCb2 FYTjBiMyBK NUlHOW1JSE JoIGVXbHVa eUJrYVggWn BaR1Z1WkhN ZyBkRzhnYV hSeklIIE5v WVhKbGFHOX MgWkdWeWN5 d2dkMiBsMG FDQmhiaUJo IGRtVnlZV2 RsSUcgUnBk bWxrWlc1ay BJSGxwWld4 a0lHIDltSU dGeWIzVnUg WkNBeUpTQn ZkbSBWeUlI Um9aU0J3IF lYTjBJR1pw ZG0gVWdlV1 ZoY25NdSBQ R0p5UGprdU lFIGx1SUhK bFkyVnUgZE NCNVpXRnlj eSB3Z1JtbH VZVzVqIGFX VnlaU0JrWl MgQlVkV0pw ZW1VZyBhR0 Z6SUdKbFpX IDRnWVdOMG FYWmwgYkhr Z2MyVmxhMi BsdVp5QnVa WGNnIGFXNT JaWE4wYlcg VnVkQ0J2Y0 hCdiBjblIx Ym1sMGFXIF Z6TENCM2FY Um8gSUdFZ2 NHRnlkRyBs amRXeGhjaU JtIGIyTjFj eUJ2YmkgQj BhR1VnWkds biBhWFJoYk NCaGJtIFFn ZEdWamFHNX YgYkc5bmVT QnpaVyBOMG IzSnpManhp IGNqNHhNQz RnVkcgaGxJ R052YlhCaC BibmtnYVhN Z1kyIDl0Yl dsMGRHVmsg SUhSdklISm xjMyBCdmJu TnBZbXhsIE lHRnVaQ0J6 ZFggTjBZV2 x1WVdKcyBa U0JwYm5abG MzIFJ0Wlc1 MElIQnkgWV dOMGFXTmxj eSB3Z1lXbH RhVzVuIElI UnZJR055Wl cgRjBaU0Jz YjI1biBMWF JsY20wZ2Rt IEZzZFdVZ1 ptOXkgSUds MGN5QnphRy BGeVpXaHZi R1JsIGNuTW dkMmhwYkcg VWdZV3h6Yn lCaiBiMjV6 YVdSbGNtIG x1WnlCbGJu WnAgY205dW JXVnVkRyBG c0xDQnpiMk 5wIFlXd3NJ R0Z1WkMgQm 5iM1psY201 aCBibU5sSU dGemNHIFZq ZEhNdQogIC AgICAgIDwv c3Bhbj4KIC AgICAgICAK ICAgICAgIC A=