P HQGP HQW1 R
8 1 , 7
$(7
’( 6 6 7
6 ( & 8 5$
,1 7’
, ( (6 ; & + $ 1 * ( & 2 0 0 , 6 6 , 2
: D V K L Q J W R Q ’ & 6 & + ( ’ 8 / ( ’ $
8 QGHUWKH6HFXULWLHV( [ FKDQJ H$ FWRI
$ P HQGP HQW1 R
3 DSD- RKQ¶V, QWHUQDWLRQDO, QF
1 DP HRI , VVXHU
&RP P RQ 6WRFN
7 ▇▇▇▇▇▇ &ODVVRI 6HFXULWLHV
&8 6, 3 1 XP EHU
$ DURQ7 KRP SVRQ 3 DUN 5 RDG $ QFKRUDJ H . <
1 DP H $ GGUHVVDQG7HOHSKRQH1 XP EHURI 3HUVRQ
$ XWKRUL] HGWR 5 HFHLYH1 RWLFHVDQG&RP P XQLFDWLRQV
$ XJ XVW
’ DWHRI ( YHQWZ KLFK5 HTXLUHV) LOLQJ RI WKLV6WDWHP HQW
, I WKHILOLQJ SHUVRQKDVSUHYLRXVO\ ILOHGDVWDWHP HQWRQ6FKHGXOH * WR UHSRUWWKHDFTXLVLWLRQWKDWLVWKHVXEMHFWRI WKLV6FKHGXOH ’ DQGLVILOLQJ WKLVVFKHGXOHEHFDXVHRI G H G I RU ▇ ▇ FKHFNWKHIROORZ LQJ ER[
1 RWH 6FKHGXOHVILOHGLQSDSHUIRUP DWVKDOOLQFOXGHDVLJ QHGRULJ LQDODQGILYHFRSLHVRI WKHVFKHGXOH LQFOXGLQJ DOOH[ KLELWV 6HH G IRURWKHUSDUWLHVWR Z KRP FRSLHVDU WR EHVHQW
7 KHUHP DLQGHURI WKLVFRYHUSDJ HVKDOOEHILOOHGRXWIRUDUHSRUWLQJ SHUVRQVLQLWLDOILOLQJ RQWKLVIRUP Z LWKUHVSHFWWR WKHVXEMHFWFODVVRI VHFXULWLHV DQGIRUDQ\ VXEVHTXHQW DP HQGP HQWFRQWDLQLQJ LQIRUP DWLRQZ KLFKZ RXOGDOWHUGLVFORVXUHVSURYLGHGLQDSULRUFRYHUSDJ H
7 KHLQIRUP DWLRQUHTXLUHGRQWKHUHP DLQGHURI WKLVFRYHUSDJ HVKDOOQRWEHGHHP HGWR EH‡ILOHG· IRUWKHSXUSRVHRI 6HFWLRQ RI WKH6HFXULWLHV( [ FKDQJ H$ FWRI ‡$ FW· RU RWKHUZ LVHVXEMHFWWR WKHOLDELOLWLHVRI WKDWVHFWLRQRI WKH$ FWEXWVKDOOEHVXEMHFWWR DOORWKHUSURYLVLRQVRI WKH$ FWKRZ HYHU VHHWKH1 RWHV
1 $ 0 ( 6 2 ) 5 ( 32 5 7 , 1 * 3( 5 62 1 6
, 5 6 , ’ ( 1 7 , ) ,&$ 7 , 2 1 1 2 6 2 ) $ %2 9 ( 3( 5 62 1 6 ( 1 7 , 7 , ( 6 2 1 / <
-RKQ+ 6FKQDWWHU
&+ ( &. 7 + ( $ 335 2 35 , $ 7 ( %2 ; , ) $ 0 ( 0 %( 5 2 ) $ * 5 2 8 3
VHHLQVWUXFWLRQV D
E
6( & 8 6( 2 1 / <
62 8 5 &( 2 ) ) 8 1 ’ 6 VHHLQVWUXFWLRQV
1 $
&+ ( &. %2 ; , ) ’ , 6&/ 2 68 5 ( 2 ) / ( * $ / 35 2 &( ( ’ , 1 * 6 , 6 5 ( 4 8 , 5 ( ’ 38 5 68 $ 1 7 72 , 7 ( 0 6
G RU H
&, 7 , =( 1 6+ , 3 2 5 3/ $ &( 2 ) 2 5 * $ 1 , =$ 7 , 2 1 8 QLWHG6WDWHVRI $ P HULFD
62 / ( 9 2 7 , 1 * 32 : ( 5
1 8 0 %( 5 2 )
6+ $ 5 ( 6
%( 1 ( ) ,&, $ / / < 2 : 1 ( ’ %<
( $ &+
5 ( 32 5 7 , 1 *
3( 5 62 1 : , 7 +
6+ $ 5 ( ’ 9 2 7 , 1 * 32 : ( 5
62 / ( ’ , 632 6, 7 , 9 ( 32 : ( 5
6+ $ 5 ( ’ ’ , 632 6, 7 , 9 ( 32 : ( 5
$ * * 5 ( * $ 7 ( $ 0 2 8 1 7 %( 1 ( ) ,&, $ / / < 2 : 1 ( ’ %< ( $ &+ 5 ( 32 5 7 , 1 * 3( 5 62 1
&+ ( &. %2 ; , ) 7 + ( $ * * 5 ( * $ 7 ( $ 0 2 8 1 7 , 1 5 2 : ( ; &/ 8 ’ ( 6 &( 5 7$ , 1 6+ $ 5 ( 6
VHHLQVWUXFWLRQV
3( 5 &( 1 7 2 ) &/ $ 66 5 ( 35 ( 6( 1 7 ( ’ %< $ 0 2 8 1 7 , 1 5 2 :
7 < 3( 2 ) 5 ( 32 5 7 , 1 * 3( 5 62 1 VHHLQVWUXFWLRQV
, 1
7 KHSHUFHQWDJ HVUHSRUWHGLQWKLV6FKHGXOH ’ $ DUHEDVHGXSRQ VKDUHVRI FRP P RQVWRFNRXWVWDQGLQJ FRP SULVHGRI D VKDUHVRI FRP P RQVWRFN RXWVWDQGLQJ DVRI -XO\ DFFRUGLQJ WR WKH) RUP 4 ILOHGE\ WKH, VVXHUZ LWKWKH6HFXULWLHVDQG( [ FKDQJ H&RP P LVVLRQRQ$ XJ XVW DQG E VKDUHVRI FRP P RQVWRFNLVVXDEOHXSRQYHVWHGVWRFNRSWLRQVRZ QHGE\ WKH5 HSRUWLQJ 3HUVRQ
, WHP 6HFXULW\ DQG , VVXHU 6HHFRYHUSDJ H
, WHP , GHQWLW\ DQG %DFNJ URXQG D -RKQ+ 6FKQDWWHU
E 3DUN5 RDG $ QFKRUDJ H . <
F 0 U6FKQDWWHULVWKHIRXQGHUDQGZ DV XQWLO$ SULO DGLUHFWRURI WKH, VVXHU
G ’ XULQJ WKHODVWILYH\ HDUV 0 U6FKQDWWHUKDVQRWEHHQFRQYLFWHGLQDFULP LQDOSURFHHGLQJ
H ’ XULQJ WKHODVWILYH\ HDUV 0 U 6FKQDWWHUKDVQRWEHHQDSDUW\ WR DFLYLOSURFHHGLQJ RI DMXGLFLDORUDGP LQLVWUDWLYHERG\ RI FRP SHWHQWMXULVGLFWLRQDVDUHVXOWRI Z KLFKK Z DVRULVVXEMHFWWR DQ\ MXGJ P HQWGHFUHHRUILQDORUGHUHQMRLQLQJ IXWXUHYLRODWLRQVRI RUSURKLELWLQJ RUP DQGDWLQJ DFWLYLWLHVVXEMHFWWR IHGHUDORUVWDWHVHFXULWLHVODZ RUILQGLQJ DQ\ YLRODWLRQZ LWKUHVSHFWWR VXFKODZ V
I 0 U6FKQDWWHULVD8 QLWHG6WDWHVFLWL] HQ
, WHP 6RXUFHDQG$ P RXQWRI ) XQGVRU2 WKHU&RQVLGHUDWLRQ 1 RFKDQJ HIURP $ P HQGP HQW1 R
, WHP 3 XUSRVHRI 7 UDQVDFWLRQ
7 KLVILOLQJ LVEHLQJ P DGHWR XSGDWH0 U 6FKQDWWHU¶VKROGLQJ VDQGRZ QHUVKLS SHUFHQWDJ HVSUHYLRXVO\ GLVFORVHGRQ$ P HQGP HQW1 R 2 QWKHGDWHKHUHRI 0 U 6FKQDWWHUGLUHFW RULQGLUHFWO\ RZ QVRUKDVYRWLQJ SRZ HUZ LWKUHVSHFWWR DWRWDORI VKDUHVRI &RP P RQ6WRFN DVIROORZ V VKDUHVRZ QHGGLUHFWO\ VKDUHVRZ QHGE\ 0
$ QQHWWH6FKQDWWHU 0 U 6FKQDWWHU¶VVSRXVH VKDUHVVXEMHFWWR RSWLRQVWKDWDUHFXUUHQWO\ H[ HUFLVDEOHRUH[ HUFLVDEOHE\ 0 U 6FKQDWWHUZ LWKLQ GD\ VRI WKLVILOLQJ DQ VKDUHVRZ QHGE\ WKH-RKQ+ 6FKQDWWHU) DP LO\ ) RXQGDWLRQ LQZ KLFK0 U6FKQDWWHUKROGVYRWLQJ SRZ HU EXWQR SHFXQLDU\ LQWHUHVW
1 RWZ LWKVWDQGLQJ DQ\ VWDWHP HQWVE\ 0 U 6FKQDWWHULQSULRU6FKHGXOH ’ ILOLQJ VUHJ DUGLQJ KLVSODQVRUSURSRVDOVZ LWKUHVSHFWWR WKH, VVXHU 0 U 6FKQDWWHUSUHVHQWO\ KDVQR SODQ RUSURSRVDOVRI WKHW\ SHUHTXLUHGWR EHGLVFORVHGLQWKLV, WHP RWKHUWKDQDVGHVFULEHGLQWKHIROORZ LQJ WKUHHVHQWHQFHV 2 Q$ XJ XVW 0 U 6FKQDWWHUHQWHUHGLQWR DEORF VDOHZ LWK 8 %6 ) LQDQFLDO6HUYLFHV, QF ‡8 %6· GHVFULEHG LQ , WHP F EHORZ DQG HQWHUHG LQWR DORFN XS Z LWK 8 %6 IRUDSHULRG RI GD\ VDVGHVFULEHG LQ , WHP EHORZ DV UHVXOWKH GRHVQRWLQWHQG WR P DNH DQ\ IXUWKHUVDOHVRI &RP P RQ 6WRFN GXULQJ WKH ORFN XS SHULRG %DVHG RQ KLVDQDO\ VLVRI DP RQJ RWKHUWKLQJ V LQYHVWP HQWFRQVLGHUDWLRQ LQFOXGLQJ WKHWUDGLQJ SULFHRI WKH, VVXHU¶V&RP P RQ6WRFN HFRQRP LF FRQGLWLRQVDQGSXEOLF GLVFORVXUHVP DGHE\ WKH, VVXHU 0 U 6FKQDWWHUP D\ L DIWHUWKHORFN XS SHULRG VH WUDGH RURWKHUZ LVH GLVSRVH RI DGGLWLRQDOVKDUHVRI KLV&RP P RQ 6WRFN LQ WKH , VVXHULQ WKH SXEOLF P DUNHWV LQFOXGLQJ LQ DGGLWLRQDOVDOHVSXUVXDQWWR 5 XOH WR WKH H[ ▇▇ ▇▇▇▇ LWWHG LQSULYDWHO\ QHJ RWLDWHGWUDQVDFWLRQV LQUHJ LVWHUHGRIIHULQJ V RURWKHUZ LVH LL FRQVLGHUDQGRULP SOHP HQWYDULRXVDOWHUQDWLYHVWR P D[ LP L] HWKHYDOXHRI KLVLQYHVWP H LQWKH, VVXHU RU LLL WDNHDQ\ RWKHUODZ IXODFWLRQKHGHHP VWR EHLQKLVEHVWLQWHUHVWLQFOXGLQJ DFWLRQVGHVFULEHGLQSDUDJ UDSKV D WKURXJ K MRI , WHP RI 6FKHGXOH ’
, WHP , QWHUHVWLQ 6HFXULWLHVRI WKH, VVXHU D
E 6ROHYRWLQJ SRZ HU 6KDUHGYRWLQJ SRZ HU
6ROHGLVSRVLWLYHSRZ HU
6KDUHGGLVSRVLWLYHSRZ HU
F ’ XULQJ WKHVL[ W\ GD\ VSULRUWR WKLVILOLQJ 0 U 6FKQDWWHUKDVGLVSRVHGRI VKDUHVRI &RP P RQ6WRFNDVVHWIRUWKLQWKHVXP P DU\ WDEOHEHORZ ( DFKGLVSRVLWLRQUHSUHVHQWH LQWKHWDEOHEHORZ Z DVLQDQRSHQP DUNHWWUDQVDFWLRQ RWKHUWKDQWKHODVWWUDQVDFWLRQGHVFULEHGLQWKHFKDUWEHORZ Z KLFKZ DVDEORFNWUDGHH[ HFXWHGLQUHOLDQFHRQ5 X
RI WKH6HFXULWLHV$ FW
5 DQJ HRI 3ULFHSHU6KDUH | ||||
’ DWHRI 7 UDQVDFWLRQ | 1 XP EHURI 6KDUHV6ROG | : HLJ KWHG $ YHUDJ H3ULFH SHU6KDUH | / RZ | + LJ K |
$ XJ XVW | ||||
$ XJ XVW | ||||
$ XJ XVW | ||||
$ XJ XVW | ||||
$ XJ XVW | 1 $ | 1 $ | ||
, WHP &RQWUDFW$ UUDQJ HP HQWV 8 QGHUVWDQGLQJ VRU5 HODWLRQVKLSVZ LWK 5 HVSHFWWR 6HFXULWLHVRI WKH, VVXHU
, QFRQQHFWLRQZ LWKWKHEORFNVDOHHQWHUHGLQWR RQ$ XJ XVW 0 U6FKQDWWHUHQWHUHGLQWR DQDJ UHHP HQWZ LWK8 %6 QRWWR VHOODQ\ &RP P RQ6WRFNXQWLO6HSWHP EHU
, WHP 0 DWHULDOWR %H) LOHG DV( [ KLELWV 1 RQH
6, * 1 $ 7 8 5 (
$ IWHUUHDVRQDEOHLQTXLU\ DQGWR WKHEHVWRI P \ NQRZ OHGJ HDQGEHOLHI , FHUWLI\ WKDWWKHLQIRUP DWLRQVHWIRUWKLQWKLVVWDWHP HQWLVWUXH FRP SOHWHDQGFRUUHFW
1 $ 0 (
V -RKQ+ 6FKQDWWHU
, QVHUW1 DP H
-RKQ+ 6FKQDWWHU
, QVHUW1 DP H7 LWOH
$ XJ XVW
, QVHUW’ DWH
