%<=$1=
2848
,XVWLQLDQXV ,, 5HJLHUXQJ Q &KU $( 1XPPL J Q &KU 0]VW 6\UDNXV 9V .DLVHU PLW .URQH X &KODP\V VRZLH .UHX]JOREXV IURQWDO VWHKHQG 5V *UR HV 0 GDU EHU 0RQRJUDPP GDUXQWHU 6&/ '2& 0,% 6HDU 6RPPHU 0%5 $QDVWDVL 6LFLOLD 'XQNHOJU QH 3DWLQD VV ±
2849
7LEHULXV ,,, Q &KU 6ROLGXV J 0]VW .RQVWDQWLQRSHO 9V ' 7,E(5, 96 3( $9 IURQWDOH 3DQ]HU E VWH PLW .URQH 6SHHU X 6FKLOG 5V 9,&725,$ $9*9 ( &212% 6WXIHQNUHX] '2& G 0,% 6HDU *ROG 3UlJHVFKZlFKHQ VW ± ([ *LHVVHQHU 0 Q]KDQGOXQJ
2850
7LEHULXV ,,, Q &KU $( 1XPPL J 0]VW &DWDQLD" 9V )URQWDOH GUDSLHUWH 3DQ]HUE VWH PLW +HOP 6SHHU X 6FKLOG VHLWOLFK 1 . 5V *UR HV 0 ]ZLVFKHQ ]ZHL 3DOP]ZHLJHQ GDU EHU 0RQRJUDPP GDUXQWHU .UHX] LP $EVFKQLWW 6&/ '2& 0,% 6HDU 6RPPHU 0%5 $QDVWDVL 6LFLOLD 55 'XQNHOJU QH 3DWLQD 5V hEHUSUlJXQJVVSXUHQ VV ± 'LH =XZHLVXQJ GLHVHU QHX HQWGHFNWHQ 3UlJXQJ DQ 7KHRGRVLXV ,,, 5 &DOFLDWL 0RQHWH EL]DQWLQH GL EURQ]R GHOOD 6LFLOLD > @ 1U LVW GXUFK GDV 0RQRJUDPP HLQGHXWLJ ]X ZLGHUOHJHQ
2851
7LEHULXV ,,, Q &KU $( 1XPPL J 0]VW 6\UDNXV 9V )URQWDOH GUDSLHUWH 3DQ]HUE VWH PLW .URQH 6SHHU X 6FKLOG O LP )HOG 6WHUQ 5V *UR HV 0 ]ZLVFKHQ ]ZHL 3DOP]ZHLJHQ GDU EHU 0RQRJUDPP GDUXQWHU 6&/ '2& 0,% E 6HDU 6RPPHU 0%5 $QDVWDVL 6LFLOLD 6FKZDU]JU QH 3DWLQD 5V hEHUSUl JXQJVVSXUHQ VV ±
2852
7LEHULXV ,,, Q &KU $( 1XPPL J 0]VW 6\UDNXV 9V )URQWDOH GUDSLHUWH 3DQ]HUE VWH PLW .URQH 6SHHU X 6FKLOG O LP )HOG 6WHUQ 5V *UR HV 0 ]ZLVFKHQ ]ZHL 3DOP]ZHLJHQ GDU EHU 0RQRJUDPP GDUXQWHU 6&/ '2& 0,% E 6HDU 6RPPHU 0%5 $QDVWDVL 6LFLOLD 'XQNHOJU QH 3DWLQD hEHUSUlJXQJV VSXUHQ VV ±
2853
,XVWLQLDQXV ,, 5HJLHUXQJ Q &KU $( 1XPPL J Q &KU 0]VW 6\UDNXV 9V .DLVHU PLW .URQH /RURV 6WXIHQNUHX] X .UHX]JOREXV IURQWDO VWHKHQG 5V *UR HV 0 GDU EHU 0RQRJUDPP GDUXQWHU 6WHUQ LP $EVFKQLWW 6&/ '2& 5HJ 0,% 5HJ 6HDU 5HJ 6RPPHU 0%5 5HJ $QDVWDVL 6LFLOLD 5HJ 6FKZDU]H 3DWLQD VV ± 2EZRKO GDV 0RWLY GHV VWHKHQGHQ .DLVHUV PLW /RURV GHU KLHU HUVWPDOV DOV NDLVHUOLFKH ,QVLJQLH HUVFKHLQW XQG 6WXIHQNUHX] LQ GHU 5HFKWHQ HLQHU 6ROLGXVSUlJXQJ DXV .RQVWDQWLQRSHO GHU HUVWHQ 5HJLHUXQJVSKDVH '2& 0,% 6HDU
HQWVSULFKW HUVFKHLQW GLH $QRUGQXQJ GHU $( 3UlJXQJ DXV 6\UDNXV YRQ 0DUFR $QDVWDVL 0RQHWH EL]DQWLQH GL 6LFLOLD > @ GLH DOOHQ YRUKHULJHQ 3XEOLNDWLRQHQ HQWJHJHQVWHKW GXUFKDXV HLQOHXFKWHQG 'HPQDFK XQWHUVFKHLGHQ VLFK GLH 3UlJXQJHQ GHU ]ZHLWHQ 5HJLHUXQJV]HLW GHV ,XVWLQLDQXV ,, YRQ GHQHQ GHU HUVWHQ GXUFK GDV %HLI JHQ GHU %HL]HLFKHQ .UHX] XQG 6WHUQ
2854
,XVWLQLDQXV ,, 5HJLHUXQJ Q &KU $( 1XPPL J Q &KU 0]VW 6\UDNXV 9V .DLVHU PLW .URQH /RURV 6WXIHQNUHX] X .UHX]JOREXV IURQWDO VWHKHQG 5V *UR HV 0 GDU EHU 0RQRJUDPP GDUXQWHU 6WHUQ LP $EVFKQLWW 6&/ '2& 5HJ 0,% 5HJ 6HDU 5HJ 6RPPHU 0%5 5HJ $QDVWDVL 6LFLOLD 5HJ 6FKZDU]JU QH 3DWLQD hEHUSUlJXQJVVSXUHQ VV ±
2855
3KLOLSSLFXV Q &KU $( 1XPPL J 0]VW 6\UDNXV 9V .DLVHU LQ PLOLWlULVFKHU 7UDFKW PLW +HOP $G OHU]HSWHU X .UHX]JOREXV IURQWDO VWHKHQG GLDJRQDO EHUSUlJW DXI 6WDQGILJXU GHV 7LEHULXV ,,, GHVVHQ EHNU|QWHU .RSI HUKDOWHQ LVW 5V *UR HV 0 ]ZLVFKHQ ]ZHL 6WHUQHQ GDU EHU 0RQRJUDPP GDUXQWHU 6&/ XQWHQ OLQNV GHU EHUSUlJWH 5HVW HLQHV JUR HQ 0 PLW 6WHUQ GDUXQWHU '2& 0,% 6HDU $ 6RPPHU 0%5 $QDVWDVL 6LFLOLD 55 6FKZDU]JU QH 3DWLQD hEHUSUlJXQJVVSXUHQ VV ± hEHUSUlJW DXI $( GHV 7LEHULXV ,,, '2& 0,% 6HDU $QDVWDVL 6LFLOLD
2856
3KLOLSSLFXV Q &KU $( 1XPPL J 0]VW 6\UDNXV 9V .DLVHU PLW .URQH /RURV 6SHHU X .UHX]JOREXV IURQWDO VWHKHQG 5V *UR HV 0 GDU EHU 0RQRJUDPP GDUXQ WHU 6&/ VHLWOLFK LP )HOG & 3 '2& 0,% 6HDU 6RPPHU 0%5 $QDVWDVL 6LFLOLD $ 5 6FKZDU]JU QH 3DWLQD ]ZHL 6FKU|WOLQJVULVVH hEHUSUlJXQJVVSXUHQ VV ±