Loading ...
Loading ...
Loading ...

+LQZHLV =XU9HUEHVVHUXQJGHU$EVDXJOHLVWXQJGLHEHLOLHJHQ
GHQ'LFKWXQJHQHLQVHW]HQ
 2EHUHQ)ODFKNDQDOERJHQDQGHU$XVODVV|IIQXQJGHV.RFKIHOGV
RGHUDQGHU9HUOlQJHUXQJIHVWVFKUDXEHQ
0|EHOXQG*HUlWIU$EOXIWEHWULHEYRUEHUHLWHQ
 5HGX]LHUVWXW]HQRGHU)ODFKNDQDOERJHQPLWYLHU.XQVWVWRII
VFKUDXEHQDQGHU$XVODVV|IIQXQJGHV.RFKIHOGVRGHUDQGHU
9HUOlQJHUXQJIHVWVFKUDXEHQ %LOG 
+LQZHLVH
%HL %HGDUI GLH HQWVSUHFKHQGH 9HUOlQJHUXQJ DP .RFKIHOG IHVW
VFKUDXEHQ-HOlQJHUGLH9HUOlQJHUXQJLVWXPVRWLHIHUNDQQ
GLH6FKXEODGHVHLQ %LOG 
=XU9HUEHVVHUXQJGHU$EVDXJOHLVWXQJGLHEHLOLHJHQGHQ'LFK
WXQJHQHLQVHW]HQ
 -H QDFK $EOXIWNRQILJXUDWLRQ IU GDV $EOXIWURKU HLQHQ $XVVFKQLWW LQ
GHUKLQWHUHQ0|EHOZDQGKHUVWHOOHQ0|EHOUFNZDQGHQWIHUQHQ
RGHUHLQHQ$XVVFKQLWWLP0|EHOERGHQKHUVWHOOHQ
 1DFK$XVVFKQLWWDUEHLWHQ6SlQHHQWIHUQHQ
+LQZHLV 6FKQLWWIOlFKHQKLW]HEHVWlQGLJXQGZDVVHUGLFKWYHUVLH
JHOQ
*HUlWPRQWLHUHQ
: 6WURPVFKODJJHIDKU
%DXWHLOHLQQHUKDOEGHV*HUlWHVN|QQHQVFKDUINDQWLJVHLQ'DV
$QVFKOXVVNDEHONDQQEHVFKlGLJWZHUGHQ$QVFKOXVVNDEHOZlK
UHQGGHU,QVWDOODWLRQQLFKWNQLFNHQRGHUHLQNOHPPHQ
: 9HUOHW]XQJVJHIDKU
%DXWHLOHGLHZlKUHQGGHU0RQWDJH]XJlQJOLFKVLQGN|QQHQ
VFKDUINDQWLJVHLQ6FKXW]KDQGVFKXKHWUDJHQ
.RFKIHOGHLQVHW]HQ
 +DOWHVFKLHQHQDQEULQJHQ %LOG D
² :HQQ EHUHLWV +DOWHVFKLHQHQ DQJHEUDFKW VLQG GLHVH HQWIHUQHQ
XQGQHXHDQEULQJHQ
² %HLJHIOLHVWHQ$UEHLWVSODWWHQGLHXQWHUHQ*HZLQGHERKUXQJHQ
YHUZHQGHQ
² %HL$UEHLWVSODWWHQDXV6WHLQGLH6FKLHQHQDQNOHEHQGD]XKLW
]HEHVWlQGLJHQ]XP9HUNOHEHQYRQ0HWDOOXQG6WHLQJHHLJQH
WHQ.OHEVWRIIYHUZHQGHQ
 'DV*HUlWLQGHQ$UEHLWVSODWWHQDXVVFKQLWWHLQVHW]HQ %LOG E
1HW]NDEHOQLFKWHLQNOHPPHQXQGQLFKWEHUVFKDUIH.DQWHQIK
UHQ 'LH /HLWXQJ PXVV VR LQVWDOOLHUW ZHUGHQ GDVV VLH NHLQH KHLHQ
6WHOOHQGHV.RFKIHOGVEHUKUW
*HUlWDQVFKOLHHQ
+LQZHLVH
%HL$EOXIWEHWULHEVROOWHHLQH5FNVWDXNODSSHPLWHLQHPPD[LPD
OHQgIIQXQJVGUXFNYRQ 3DHLQJHEDXWZHUGHQ,VWGHP*HUlW
NHLQH 5FNVWDXNODSSH EHLJHOHJW NDQQ VLH EHU GHQ )DFKKDQGHO
EH]RJHQZHUGHQ
:LUGGLH$EOXIWGXUFKGLH$XHQZDQGJHOHLWHWVROOWHHLQ7HOHV
NRS0DXHUNDVWHQYHUZHQGHWZHUGHQ
$EOXIWYHUELQGXQJKHUVWHOOHQ
 $EOXIWURKUDP)ODFKNDQDOERJHQRGHU5HGX]LHUVWXW]HQEHIHVWL
JHQ %LOG 
 'LHHUODXEWH7LHIH7GHU6FKXEODGHPHVVHQGDEHL PP$E
VWDQG]XP$EOXIWURKUHLQKDOWHQ %LOG 
 9HUELQGXQJ]XU$EOXIW|IIQXQJKHUVWHOOHQ
 9HUELQGXQJVVWHOOHQJHHLJQHWDEGLFKWHQ
8POXIWYHUELQGXQJKHUVWHOOHQ
 )LOWHUPRGXODPXQWHUHQ)ODFKNDQDOERJHQIHVWNOLSVHQRGHUEHL
%HGDUIIHVWVFKUDXEHQ %LOG D
+LQZHLV %HL%HGDUI)LOWHUPRGXOGUHKHQGDPLWGDV6FKXEIDFK
IUGHQ$NWLYNRKOHILOWHUYRQGHUJHJHQEHUOLHJHQGHQ6HLWHJH|II
QHWZHUGHQNDQQ
 'DVIOH[LEOH9HUELQGXQJVHOHPHQWDPREHUHQ)ODFKNDQDOERJHQ
IHVWNOLSVHQ
 )LOWHUPRGXOXQGREHUHQ)ODFKNDQDOERJHQEHUGDVIOH[LEOH9HU
ELQGXQJVHOHPHQWYHUELQGHQ
+LQZHLVH
%HL%HGDUI9HUOlQJHUXQJHQ]ZLVFKHQGHP)LOWHUPRGXOXQG
GHPIOH[LEOHQ9HUELQGXQJVHOHPHQWPRQWLHUHQ
=XU9HUEHVVHUXQJGHU$EVDXJOHLVWXQJGLHEHLOLHJHQGHQ'LFK
WXQJHQHLQVHW]HQ
 $OOH9HUVFKOXVVHOHPHQWHDP6FKXEIDFK|IIQHQ6FKXEIDFK|II
QHQ %LOG E
 $NWLYNRKOHILOWHUHLQVHW]HQ %LOG F
 6FKXEIDFKVFKOLHHQ
 $OOH9HUVFKOXVVHOHPHQWHDP6FKXEIDFKVFKOLHHQ
 'LHHUODXEWH7LHIH7GHU6FKXEODGHPHVVHQGDEHL PP$E
VWDQG]XP$EOXIWURKUHLQKDOWHQ %LOG 
6WURPDQVFKOXVVKHUVWHOOHQ
6SDQQXQJ6LHKH7\SHQVFKLOG
)DUENRGLHUXQJGHU1HW]DQVFKOXVVOHLWXQJ
JUQJHOE6FKXW]OHLWHU
<
EODX1HXWUDOOHLWHU1XOO
VFKZDU]EUDXQJUDX$XHQOHLWHU3KDVH
+LQZHLV hEHUSUIHQGHU%HWULHEVEHUHLWVFKDIW(UVFKHLQWLQGHU
$Q]HLJHGHV*HUlWHV
—…‹‹LVWHVQLFKWULFKWLJDQJHVFKORVVHQ
'DV*HUlWYRQGHU6WURPYHUVRUJXQJWUHQQHQXQGGHQ$QVFKOXVV
GHV6WURPNDEHOVEHUSUIHQ
$Q]HLJHDXI$EOXIWEHWULHERGHU8POXIWEHWULHE
XPVWHOOHQ
)UGHQ$EOXIWEHWULHEXQGGHQ8POXIWEHWULHEEHL%HGDUIGLH
$Q]HLJHGHUHOHNWURQLVFKHQ6WHXHUXQJLQGHQ*UXQGHLQVWHOOXQJHQ
HQWVSUHFKHQGXPVWHOOHQ
'D]X.DSLWHO *UXQGHLQVWHOOXQJHQLQGHU*HEUDXFKVDQOHLWXQJ
EHDFKWHQ
*HUlWGHPRQWLHUHQ
 *HUlWYRP6WURPQHW]WUHQQHQ
 $EOXIWNDQDOHQWIHUQHQRGHU8POXIWYHUELQGXQJHQO|VHQ
 *HUlWYRQXQWHQKHUDXVGUFNHQ
$FKWXQJ
*HUlWHVFKDGHQ *HUlWQLFKWYRQREHQKHUDXVKHEHOQ
en
Ú
,QVWDOODWLRQLQVWUXFWLRQV
: ,PSRUWDQWVDIHW\LQIRUPDWLRQ
5HDGWKHVHLQVWUXFWLRQVFDUHIXOO\2QO\WKHQZLOO\RXEHDEOHWR
RSHUDWH\RXUDSSOLDQFHVDIHO\DQGFRUUHFWO\5HWDLQWKHLQVWUXFWLRQ
PDQXDODQGLQVWDOODWLRQLQVWUXFWLRQVIRUIXWXUHXVHRUIRU
VXEVHTXHQWRZQHUV
7KHDSSOLDQFHFDQRQO\EHXVHGVDIHO\LILWLVFRUUHFWO\LQVWDOOHG
DFFRUGLQJ WR WKH VDIHW\ LQVWUXFWLRQV 7KH LQVWDOOHU LV UHVSRQVLEOH IRU
HQVXULQJWKDWWKHDSSOLDQFHZRUNVSHUIHFWO\DWLWVLQVWDOODWLRQ
ORFDWLRQ
:HDUHUVRIHOHFWURQLFLPSODQWV
7KHDSSOLDQFHPD\FRQWDLQSHUPDQHQWPDJQHWVZKLFKPD\DIIHFW
HOHFWURQLFLPSODQWVHJKHDUWSDFHPDNHUVRULQVXOLQSXPSV
7KHUHIRUHGXULQJLQVWDOODWLRQZHDUHUVRIHOHFWURQLFLPSODQWVPXVW
PDLQWDLQDPLQLPXPGLVWDQFHRIĂFPIURPWKHDSSOLDQFH
7KHPDQXIDFWXUHUVKDOODVVXPHQROLDELOLW\IRUPDOIXQFWLRQVRU
GDPDJHUHVXOWLQJIURPLQFRUUHFWHOHFWULFDOZLULQJ
0DLQV FDEOH7KH PDLQV FDEOH PXVW RQO\ EH LQVWDOOHG E\ D TXDOLILHG
SURIHVVLRQDORUE\DWUDLQHGDIWHUVDOHVHQJLQHHU7KHUHTXLUHG
FRQQHFWLRQGDWDLVORFDWHGRQWKHUDWLQJSODWHDQGLQWKHFLUFXLW
GLDJUDPV
%HIRUHFDUU\LQJRXWDQ\W\SHRIZRUNWXUQRIIWKHHOHFWULFLW\
)RU WKH LQVWDOODWLRQ REVHUYH WKH FXUUHQWO\ YDOLG EXLOGLQJ UHJXODWLRQV
DQGWKHUHJXODWLRQVRIWKHORFDOHOHFWULFLW\DQGJDVVXSSOLHUV
:KHQ FRQYH\LQJ WKH H[KDXVW DLU RIILFLDO DQG OHJDO UHJXODWLRQV HJ
VWDWHEXLOGLQJUHJXODWLRQVPXVWEHIROORZHG
'DQJHURIGHDWK
5LVNRISRLVRQLQJIURPIOXHJDVHVEHLQJGUDZQEDFNLQ
$OZD\VHQVXUHWKDWWKHUHLVDQDGHTXDWHVXSSO\RIIUHVKDLUWRWKH
URRPLIWKHDSSOLDQFHLVEHLQJRSHUDWHGLQDLUH[WUDFWLRQPRGHDW
WKHVDPHWLPHDVDQRQURRPVHDOHGKHDWLQJDSSOLDQFHLVEHLQJ
RSHUDWHG
1RQURRPVHDOHGKHDWLQJDSSOLDQFHVHJJDVRLOZRRGRU
FRDOEXUQLQJKHDWHUVFRQWLQXRXVIORZKHDWHUVRUZDWHUKHDWHUV
GUDZLQFRPEXVWLRQDLUIURPWKHURRPLQZKLFKWKH\DUHLQVWDOOHG
DQG GLVFKDUJH WKH H[KDXVW JDVHV RXWGRRUV WKURXJK DQ H[KDXVW JDV
V\VWHPHJDFKLPQH\
Loading ...
Loading ...
Loading ...