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0.9333333333333333 1 rg /GS0 gs 117.00 408.90 405.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 408.90 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 382.90 25.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 75.00 382.90 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 117.00 382.90 405.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 382.90 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 356.90 25.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 75.00 356.90 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 117.00 356.90 405.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 356.90 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 330.90 25.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 75.00 330.90 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 117.00 330.90 405.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 330.90 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 304.90 472.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 304.90 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 278.90 25.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 75.00 278.90 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 117.00 278.90 405.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 278.90 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 252.90 25.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 75.00 252.90 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 117.00 252.90 405.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 252.90 40.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50 226.89999999999998 m 75 226.89999999999998 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 75 226.89999999999998 m 117 226.89999999999998 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 117 226.89999999999998 m 522 226.89999999999998 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 522 226.89999999999998 m 562 226.89999999999998 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 647.13 Td (T) Tj ET Q q 0 0 0 rg BT 57.24 647.13 Td (ABLE ) Tj ET Q q 0 0 0 rg BT 81.03 647.13 Td (OF) Tj ET Q q 0 0 0 rg BT 91.84 647.13 Td ( ) Tj ET Q q 0 0 0 rg BT 93.84 647.13 Td (CONTENTS) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.70 647.15 Td (Page) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 621.13 Td (P) Tj ET Q q 0 0 0 rg BT 56.79 621.13 Td (AR) Tj ET Q q 0 0 0 rg BT 68.07 621.13 Td (T) Tj ET Q q 0 0 0 rg BT 73.26 621.13 Td ( ) Tj ET Q q 0 0 0 rg BT 75.26 621.13 Td (I) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.50 621.15 Td () Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 77.5 607.08671875 m 98.16015625 607.08671875 l s q 0 0 1 rg BT 77.50 608.15 Td (Item ) Tj ET Q q 0 0 1 rg BT 94.16 608.15 Td (1) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 119.5 607.08671875 m 147.94921875 607.08671875 l s q 0 0 1 rg BT 119.50 608.15 Td (Business) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 77.5 594.08671875 m 103.716796875 594.08671875 l s q 0 0 1 rg BT 77.50 595.15 Td (Item ) Tj ET Q q 0 0 1 rg BT 94.16 595.15 Td (1A) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 119.5 594.08671875 m 159.72265625 594.08671875 l s q 0 0 1 rg BT 119.50 595.15 Td (Risk ) Tj ET Q q 0 0 1 rg BT 136.17 595.15 Td (Factors) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 77.5 581.08671875 m 103.49609375 581.08671875 l s q 0 0 1 rg BT 77.50 582.15 Td (Item 1B) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 119.5 581.08671875 m 210.453125 581.08671875 l s q 0 0 1 rg BT 119.50 582.15 Td (Unresolved ) Tj ET Q q 0 0 1 rg BT 158.38 582.15 Td (Staf) Tj ET Q q 0 0 1 rg BT 171.12 582.15 Td (f ) Tj ET Q q 0 0 1 rg BT 175.79 582.15 Td (Comments) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 77.5 568.08671875 m 98.16015625 568.08671875 l s q 0 0 1 rg BT 77.50 569.15 Td (Item 2) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 119.5 568.08671875 m 151.9375 568.08671875 l s q 0 0 1 rg BT 119.50 569.15 Td (Properties) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 77.5 555.08671875 m 98.16015625 555.08671875 l s q 0 0 1 rg BT 77.50 556.15 Td (Item 3) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 119.5 555.08671875 m 178.8125 555.08671875 l s q 0 0 1 rg BT 119.50 556.15 Td (Legal ) Tj ET Q q 0 0 1 rg BT 139.71 556.15 Td (Proceedings) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 77.5 542.08671875 m 98.16015625 542.08671875 l s q 0 0 1 rg BT 77.50 543.15 Td (Item 4) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 119.5 542.08671875 m 198.15234375 542.08671875 l s q 0 0 1 rg BT 119.50 543.15 Td (Mine ) Tj ET Q q 0 0 1 rg BT 138.39 543.15 Td (Safety ) Tj ET Q q 0 0 1 rg BT 160.82 543.15 Td (Disclosures) Tj ET Q BT /F1 8.00 Tf ET BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 52.50 517.13 Td (PART II) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 77.5 503.08671875 m 98.16015625 503.08671875 l s q 0 0 1 rg BT 77.50 504.15 Td (Item 5) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 119.5 503.08671875 m 477.68359375 503.08671875 l s q 0 0 1 rg BT 119.50 504.15 Td (Market for Registrant's Common Equity) Tj ET Q q 0 0 1 rg BT 247.96 504.15 Td (, Related Stockholder Matters and Issuer Purchases of Equity Securities) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 77.5 490.08671875 m 98.16015625 490.08671875 l s q 0 0 1 rg BT 77.50 491.15 Td (Item 6) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 119.5 490.08671875 m 195.46875 490.08671875 l s q 0 0 1 rg BT 119.50 491.15 Td (Selected Financial Data) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 77.5 477.08671875 m 98.16015625 477.08671875 l s q 0 0 1 rg BT 77.50 478.15 Td (Item 7) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 119.5 477.08671875 m 405.3515625 477.08671875 l s q 0 0 1 rg BT 119.50 478.15 Td (Management's Discussion and ) Tj ET Q q 0 0 1 rg BT 218.04 478.15 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 77.5 464.08671875 m 103.716796875 464.08671875 l s q 0 0 1 rg BT 77.50 465.15 Td (Item 7A) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 119.5 464.08671875 m 312.796875 464.08671875 l s q 0 0 1 rg BT 119.50 465.15 Td (Quantitative and Qualitative Disclosures ) Tj ET Q q 0 0 1 rg BT 251.02 465.15 Td (About Market Risk) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 77.5 451.08671875 m 98.16015625 451.08671875 l s q 0 0 1 rg BT 77.50 452.15 Td (Item 8) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 119.5 451.08671875 m 267.4609375 451.08671875 l s q 0 0 1 rg BT 119.50 452.15 Td (Financial Statements and Supplementary Data) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 77.5 438.08671875 m 98.16015625 438.08671875 l s q 0 0 1 rg BT 77.50 439.15 Td (Item 9) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 119.5 438.08671875 m 406.55078125 438.08671875 l s q 0 0 1 rg BT 119.50 439.15 Td (Changes in and Disagreements with ) Tj ET Q q 0 0 1 rg BT 236.14 439.15 Td (Accountants on ) Tj ET Q q 0 0 1 rg BT 287.69 439.15 Td (Accounting and Financial Disclosure) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 77.5 425.08671875 m 103.716796875 425.08671875 l s q 0 0 1 rg BT 77.50 426.15 Td (Item 9A) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 119.5 425.08671875 m 198.15234375 425.08671875 l s q 0 0 1 rg BT 119.50 426.15 Td (Controls and Procedures) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 77.5 412.08671875 m 103.49609375 412.08671875 l s q 0 0 1 rg BT 77.50 413.15 Td (Item 9B) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 119.5 412.08671875 m 177.92578125 412.08671875 l s q 0 0 1 rg BT 119.50 413.15 Td (Other Information) Tj ET Q BT /F1 8.00 Tf ET BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 52.50 387.13 Td (PART III) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 77.5 373.08671875 m 102.16015625 373.08671875 l s q 0 0 1 rg BT 77.50 374.15 Td (Item 10) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 119.5 373.08671875 m 301.49609375 373.08671875 l s q 0 0 1 rg BT 119.50 374.15 Td (Directors, Executive Of) Tj ET Q q 0 0 1 rg BT 195.55 374.15 Td (ficers and Corporate Governance) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 77.5 360.08671875 m 101.86328125 360.08671875 l s q 0 0 1 rg BT 77.50 361.15 Td (Item 1) Tj ET Q q 0 0 1 rg BT 97.86 361.15 Td (1) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 119.5 360.08671875 m 199.703125 360.08671875 l s q 0 0 1 rg BT 119.50 361.15 Td (Executive Compensation) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 77.5 347.08671875 m 102.16015625 347.08671875 l s q 0 0 1 rg BT 77.50 348.15 Td (Item 12) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 119.5 347.08671875 m 443.625 347.08671875 l s q 0 0 1 rg BT 119.50 348.15 Td (Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 77.5 334.08671875 m 102.16015625 334.08671875 l s q 0 0 1 rg BT 77.50 335.15 Td (Item 13) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 119.5 334.08671875 m 361.65625 334.08671875 l s q 0 0 1 rg BT 119.50 335.15 Td (Certain Relationships and Related ) Tj ET Q q 0 0 1 rg BT 230.44 335.15 Td (T) Tj ET Q q 0 0 1 rg BT 235.05 335.15 Td (ransactions, and Director Independence) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 77.5 321.08671875 m 102.16015625 321.08671875 l s q 0 0 1 rg BT 77.50 322.15 Td (Item 14) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 119.5 321.08671875 m 246.1328125 321.08671875 l s q 0 0 1 rg BT 119.50 322.15 Td (Principal ) Tj ET Q q 0 0 1 rg BT 149.94 322.15 Td (Accountant Fees and Services) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 296.13 Td (PART IV) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 77.5 282.08671875 m 102.16015625 282.08671875 l s q 0 0 1 rg BT 77.50 283.15 Td (Item 15) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 119.5 282.08671875 m 256.8046875 282.08671875 l s q 0 0 1 rg BT 119.50 283.15 Td (Exhibits and Financial Statement Schedule) Tj ET Q BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 256.8046875 282.08671875 m 259.91796875 282.08671875 l s q 0 0 1 rg BT 256.80 283.15 Td (s) Tj ET Q BT /F2 8.00 Tf ET 0 0 1 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 52.5 255.88007812499995 m 103.921875 255.88007812499995 l s q 0 0 1 rg BT 52.50 257.13 Td (SIGNA) Tj ET Q q 0 0 1 rg BT 77.25 257.13 Td (TURES) Tj ET Q BT /F2 8.00 Tf ET BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 539.5 607.08671875 m 543.5 607.08671875 l s q 0 0 1 rg BT 539.50 608.15 Td (2) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 539.5 594.08671875 m 543.5 594.08671875 l s q 0 0 1 rg BT 539.50 595.15 Td (9) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 581.08671875 m 545.5 581.08671875 l s q 0 0 1 rg BT 537.50 582.15 Td (15) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 568.08671875 m 545.5 568.08671875 l s q 0 0 1 rg BT 537.50 569.15 Td (15) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 555.08671875 m 545.5 555.08671875 l s q 0 0 1 rg BT 537.50 556.15 Td (15) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 542.08671875 m 545.5 542.08671875 l s q 0 0 1 rg BT 537.50 543.15 Td (15) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 503.08671875 m 545.5 503.08671875 l s q 0 0 1 rg BT 537.50 504.15 Td (16) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 490.08671875 m 545.5 490.08671875 l s q 0 0 1 rg BT 537.50 491.15 Td (17) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 477.08671875 m 545.5 477.08671875 l s q 0 0 1 rg BT 537.50 478.15 Td (19) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 464.08671875 m 545.5 464.08671875 l s q 0 0 1 rg BT 537.50 465.15 Td (41) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 451.08671875 m 545.5 451.08671875 l s q 0 0 1 rg BT 537.50 452.15 Td (42) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 438.08671875 m 545.5 438.08671875 l s q 0 0 1 rg BT 537.50 439.15 Td (90) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 425.08671875 m 545.5 425.08671875 l s q 0 0 1 rg BT 537.50 426.15 Td (90) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 412.08671875 m 545.5 412.08671875 l s q 0 0 1 rg BT 537.50 413.15 Td (93) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 373.08671875 m 545.5 373.08671875 l s q 0 0 1 rg BT 537.50 374.15 Td (93) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 360.08671875 m 545.5 360.08671875 l s q 0 0 1 rg BT 537.50 361.15 Td (93) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 347.08671875 m 545.5 347.08671875 l s q 0 0 1 rg BT 537.50 348.15 Td (93) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 334.08671875 m 545.5 334.08671875 l s q 0 0 1 rg BT 537.50 335.15 Td (93) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 321.08671875 m 545.5 321.08671875 l s q 0 0 1 rg BT 537.50 322.15 Td (93) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 282.08671875 m 545.5 282.08671875 l s q 0 0 1 rg BT 537.50 283.15 Td (94) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 256.08671875000005 m 547.5 256.08671875000005 l s q 0 0 1 rg BT 535.50 257.15 Td (101) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 9 0 obj <>] /Rotate 0 /Contents 10 0 R>> endobj 10 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 304.00 35.00 Td (2) Tj ET Q /GS0 gs q 141.00 0 0 77.00 49.50 652.00 cm /I18 Do Q BT /F1 8.00 Tf ET BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 630.40 Td (I. ) Tj ET Q q 0 0 0 rg BT 94.50 630.40 Td (Forward-looking Statements) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 614.80 Td (This ) Tj ET Q q 0 0 0 rg BT 65.12 614.80 Td (r) Tj ET Q q 0 0 0 rg BT 67.93 614.80 Td (eport ) Tj ET Q q 0 0 0 rg BT 86.65 614.80 Td (contains ) Tj ET Q q 0 0 0 rg BT 115.60 614.80 Td (forwar) Tj ET Q q 0 0 0 rg BT 137.08 614.80 Td (d-looking ) Tj ET Q q 0 0 0 rg BT 169.58 614.80 Td (statements, ) Tj ET Q q 0 0 0 rg BT 207.18 614.80 Td (including ) Tj ET Q q 0 0 0 rg BT 239.24 614.80 Td (those ) Tj ET Q q 0 0 0 rg BT 257.96 614.80 Td (r) Tj ET Q q 0 0 0 rg BT 260.77 614.80 Td (elating ) Tj ET Q q 0 0 0 rg BT 284.82 614.80 Td (to ) Tj ET Q q 0 0 0 rg BT 292.88 614.80 Td (our ) Tj ET Q q 0 0 0 rg BT 305.83 614.80 Td (capital ) Tj ET Q q 0 0 0 rg BT 329.88 614.80 Td (needs, ) Tj ET Q q 0 0 0 rg BT 351.93 614.80 Td (business ) Tj ET Q q 0 0 0 rg BT 380.87 614.80 Td (strategy) Tj ET Q q 0 0 0 rg BT 406.20 614.80 Td (, ) Tj ET Q q 0 0 0 rg BT 410.04 614.80 Td (expectations ) Tj ET Q q 0 0 0 rg BT 451.85 614.80 Td (and ) Tj ET Q q 0 0 0 rg BT 465.69 614.80 Td (intentions. ) Tj ET Q q 0 0 0 rg BT 501.08 614.80 Td (Statements ) Tj ET Q q 0 0 0 rg BT 537.57 614.80 Td (that ) Tj ET Q q 0 0 0 rg BT 551.85 614.80 Td (use ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 605.25 Td (the ) Tj ET Q q 0 0 0 rg BT 61.04 605.25 Td (terms ) Tj ET Q q 0 0 0 rg BT 80.58 605.25 Td (believe, ) Tj ET Q q 0 0 0 rg BT 115.89 605.25 Td (anticipate, ) Tj ET Q q 0 0 0 rg BT 160.55 605.25 Td (tr) Tj ET Q q 0 0 0 rg BT 170.04 605.25 Td (end, ) Tj ET Q q 0 0 0 rg BT 189.80 605.25 Td (expect, ) Tj ET Q q 0 0 0 rg BT 222.89 605.25 Td (plan, ) Tj ET Q q 0 0 0 rg BT 249.78 605.25 Td (estimate, ) Tj ET Q q 0 0 0 rg BT 289.11 605.25 Td (for) Tj ET Q q 0 0 0 rg BT 302.59 605.25 Td (ecast, ) Tj ET Q q 0 0 0 rg BT 327.25 605.25 Td (should,intend ) Tj ET Q q 0 0 0 rg BT 390.14 605.25 Td (and ) Tj ET Q q 0 0 0 rg BT 403.91 605.25 Td (similar ) Tj ET Q q 0 0 0 rg BT 428.34 605.25 Td (expr) Tj ET Q q 0 0 0 rg BT 442.26 605.25 Td (essions ) Tj ET Q q 0 0 0 rg BT 467.14 605.25 Td (of ) Tj ET Q q 0 0 0 rg BT 475.13 605.25 Td (a ) Tj ET Q q 0 0 0 rg BT 480.89 605.25 Td (futur) Tj ET Q q 0 0 0 rg BT 496.16 605.25 Td (e ) Tj ET Q q 0 0 0 rg BT 501.47 605.25 Td (or ) Tj ET Q q 0 0 0 rg BT 510.35 605.25 Td (forwar) Tj ET Q q 0 0 0 rg BT 531.84 605.25 Td (d-looking ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 595.65 Td (natur) Tj ET Q q 0 0 0 rg BT 66.54 595.65 Td (e ) Tj ET Q q 0 0 0 rg BT 72.82 595.65 Td (identify ) Tj ET Q q 0 0 0 rg BT 99.54 595.65 Td (forwar) Tj ET Q q 0 0 0 rg BT 121.03 595.65 Td (d-looking ) Tj ET Q q 0 0 0 rg BT 154.42 595.65 Td (statements ) Tj ET Q q 0 0 0 rg BT 190.92 595.65 Td (for ) Tj ET Q q 0 0 0 rg BT 202.99 595.65 Td (purposes ) Tj ET Q q 0 0 0 rg BT 234.61 595.65 Td (of ) Tj ET Q q 0 0 0 rg BT 243.56 595.65 Td (the ) Tj ET Q q 0 0 0 rg BT 256.06 595.65 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 272.57 595.65 Td (federal ) Tj ET Q q 0 0 0 rg BT 297.96 595.65 Td (securities ) Tj ET Q q 0 0 0 rg BT 331.35 595.65 Td (laws ) Tj ET Q q 0 0 0 rg BT 348.75 595.65 Td (or ) Tj ET Q q 0 0 0 rg BT 358.59 595.65 Td (otherwise. ) Tj ET Q q 0 0 0 rg BT 394.43 595.65 Td (For ) Tj ET Q q 0 0 0 rg BT 409.16 595.65 Td (these ) Tj ET Q q 0 0 0 rg BT 428.33 595.65 Td (statements ) Tj ET Q q 0 0 0 rg BT 464.83 595.65 Td (and ) Tj ET Q q 0 0 0 rg BT 479.56 595.65 Td (all ) Tj ET Q q 0 0 0 rg BT 490.74 595.65 Td (other ) Tj ET Q q 0 0 0 rg BT 510.35 595.65 Td (forwar) Tj ET Q q 0 0 0 rg BT 531.84 595.65 Td (d-looking ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 586.05 Td (statements, ) Tj ET Q q 0 0 0 rg BT 87.27 586.05 Td (we ) Tj ET Q q 0 0 0 rg BT 98.16 586.05 Td (claim ) Tj ET Q q 0 0 0 rg BT 117.93 586.05 Td (the ) Tj ET Q q 0 0 0 rg BT 129.71 586.05 Td (pr) Tj ET Q q 0 0 0 rg BT 136.52 586.05 Td (otection ) Tj ET Q q 0 0 0 rg BT 164.29 586.05 Td (of ) Tj ET Q q 0 0 0 rg BT 172.52 586.05 Td (the ) Tj ET Q q 0 0 0 rg BT 184.29 586.05 Td (safe ) Tj ET Q q 0 0 0 rg BT 199.18 586.05 Td (harbor ) Tj ET Q q 0 0 0 rg BT 223.40 586.05 Td (for ) Tj ET Q q 0 0 0 rg BT 234.74 586.05 Td (forwar) Tj ET Q q 0 0 0 rg BT 256.23 586.05 Td (d-looking ) Tj ET Q q 0 0 0 rg BT 288.89 586.05 Td (statements ) Tj ET Q q 0 0 0 rg BT 324.66 586.05 Td (contained ) Tj ET Q q 0 0 0 rg BT 358.21 586.05 Td (in ) Tj ET Q q 0 0 0 rg BT 366.43 586.05 Td (the ) Tj ET Q q 0 0 0 rg BT 378.20 586.05 Td (Private ) Tj ET Q q 0 0 0 rg BT 403.75 586.05 Td (Securities ) Tj ET Q q 0 0 0 rg BT 437.30 586.05 Td (Litigation ) Tj ET Q q 0 0 0 rg BT 470.86 586.05 Td (Reform ) Tj ET Q q 0 0 0 rg BT 496.27 586.05 Td (Act ) Tj ET Q q 0 0 0 rg BT 508.93 586.05 Td (of ) Tj ET Q q 0 0 0 rg BT 517.15 586.05 Td (1995.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 570.45 Td (Forwar) Tj ET Q q 0 0 0 rg BT 73.65 570.45 Td (d-looking ) Tj ET Q q 0 0 0 rg BT 105.75 570.45 Td (statements ) Tj ET Q q 0 0 0 rg BT 140.95 570.45 Td (ar) Tj ET Q q 0 0 0 rg BT 147.77 570.45 Td (e ) Tj ET Q q 0 0 0 rg BT 152.75 570.45 Td (inher) Tj ET Q q 0 0 0 rg BT 169.34 570.45 Td (ently ) Tj ET Q q 0 0 0 rg BT 186.32 570.45 Td (subject ) Tj ET Q q 0 0 0 rg BT 210.42 570.45 Td (to ) Tj ET Q q 0 0 0 rg BT 218.07 570.45 Td (risks ) Tj ET Q q 0 0 0 rg BT 234.62 570.45 Td (and ) Tj ET Q q 0 0 0 rg BT 248.05 570.45 Td (uncertainties, ) Tj ET Q q 0 0 0 rg BT 293.26 570.45 Td (many ) Tj ET Q q 0 0 0 rg BT 312.02 570.45 Td (of ) Tj ET Q q 0 0 0 rg BT 319.68 570.45 Td (which ) Tj ET Q q 0 0 0 rg BT 340.22 570.45 Td (cannot ) Tj ET Q q 0 0 0 rg BT 363.43 570.45 Td (be ) Tj ET Q q 0 0 0 rg BT 372.41 570.45 Td (pr) Tj ET Q q 0 0 0 rg BT 379.23 570.45 Td (edicted ) Tj ET Q q 0 0 0 rg BT 403.76 570.45 Td (with ) Tj ET Q q 0 0 0 rg BT 418.97 570.45 Td (accuracy ) Tj ET Q q 0 0 0 rg BT 449.72 570.45 Td (or ) Tj ET Q q 0 0 0 rg BT 458.27 570.45 Td (ar) Tj ET Q q 0 0 0 rg BT 465.09 570.45 Td (e ) Tj ET Q q 0 0 0 rg BT 470.07 570.45 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 502.61 570.45 Td (beyond ) Tj ET Q q 0 0 0 rg BT 527.15 570.45 Td (our ) Tj ET Q q 0 0 0 rg BT 539.70 570.45 Td (contr) Tj ET Q q 0 0 0 rg BT 556.29 570.45 Td (ol ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 560.85 Td (and ) Tj ET Q q 0 0 0 rg BT 63.45 560.85 Td (some ) Tj ET Q q 0 0 0 rg BT 81.84 560.85 Td (of ) Tj ET Q q 0 0 0 rg BT 90.01 560.85 Td (which ) Tj ET Q q 0 0 0 rg BT 111.06 560.85 Td (might ) Tj ET Q q 0 0 0 rg BT 131.23 560.85 Td (not ) Tj ET Q q 0 0 0 rg BT 143.40 560.85 Td (even ) Tj ET Q q 0 0 0 rg BT 160.00 560.85 Td (be ) Tj ET Q q 0 0 0 rg BT 169.50 560.85 Td (anticipated.Forwar) Tj ET Q q 0 0 0 rg BT 233.64 560.85 Td (d-looking ) Tj ET Q q 0 0 0 rg BT 266.25 560.85 Td (statements ) Tj ET Q q 0 0 0 rg BT 301.97 560.85 Td (r) Tj ET Q q 0 0 0 rg BT 304.79 560.85 Td (eflect ) Tj ET Q q 0 0 0 rg BT 324.06 560.85 Td (our ) Tj ET Q q 0 0 0 rg BT 337.12 560.85 Td (curr) Tj ET Q q 0 0 0 rg BT 350.60 560.85 Td (ent ) Tj ET Q q 0 0 0 rg BT 362.32 560.85 Td (views ) Tj ET Q q 0 0 0 rg BT 382.04 560.85 Td (with ) Tj ET Q q 0 0 0 rg BT 397.77 560.85 Td (r) Tj ET Q q 0 0 0 rg BT 400.58 560.85 Td (espect ) Tj ET Q q 0 0 0 rg BT 422.52 560.85 Td (to ) Tj ET Q q 0 0 0 rg BT 430.69 560.85 Td (futur) Tj ET Q q 0 0 0 rg BT 445.95 560.85 Td (e ) Tj ET Q q 0 0 0 rg BT 451.45 560.85 Td (events ) Tj ET Q q 0 0 0 rg BT 473.38 560.85 Td (and ) Tj ET Q q 0 0 0 rg BT 487.33 560.85 Td (because ) Tj ET Q q 0 0 0 rg BT 515.04 560.85 Td (our ) Tj ET Q q 0 0 0 rg BT 528.11 560.85 Td (business ) Tj ET Q q 0 0 0 rg BT 557.17 560.85 Td (is ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 551.25 Td (subject ) Tj ET Q q 0 0 0 rg BT 74.12 551.25 Td (to ) Tj ET Q q 0 0 0 rg BT 82.30 551.25 Td (such ) Tj ET Q q 0 0 0 rg BT 98.92 551.25 Td (risks ) Tj ET Q q 0 0 0 rg BT 115.99 551.25 Td (and ) Tj ET Q q 0 0 0 rg BT 129.95 551.25 Td (uncertainties, ) Tj ET Q q 0 0 0 rg BT 175.68 551.25 Td (actual ) Tj ET Q q 0 0 0 rg BT 197.63 551.25 Td (r) Tj ET Q q 0 0 0 rg BT 200.45 551.25 Td (esults, ) Tj ET Q q 0 0 0 rg BT 222.63 551.25 Td (our ) Tj ET Q q 0 0 0 rg BT 235.70 551.25 Td (strategic ) Tj ET Q q 0 0 0 rg BT 265.65 551.25 Td (plan, ) Tj ET Q q 0 0 0 rg BT 283.83 551.25 Td (our ) Tj ET Q q 0 0 0 rg BT 296.91 551.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 327.31 551.25 Td (position, ) Tj ET Q q 0 0 0 rg BT 357.04 551.25 Td (r) Tj ET Q q 0 0 0 rg BT 359.86 551.25 Td (esults ) Tj ET Q q 0 0 0 rg BT 380.04 551.25 Td (of ) Tj ET Q q 0 0 0 rg BT 388.22 551.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 424.40 551.25 Td (and ) Tj ET Q q 0 0 0 rg BT 438.36 551.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 454.98 551.25 Td (flows ) Tj ET Q q 0 0 0 rg BT 473.84 551.25 Td (could ) Tj ET Q q 0 0 0 rg BT 493.57 551.25 Td (differ ) Tj ET Q q 0 0 0 rg BT 512.86 551.25 Td (materially ) Tj ET Q q 0 0 0 rg BT 547.70 551.25 Td (fr) Tj ET Q q 0 0 0 rg BT 552.74 551.25 Td (om ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 541.65 Td (those ) Tj ET Q q 0 0 0 rg BT 68.39 541.65 Td (described ) Tj ET Q q 0 0 0 rg BT 101.49 541.65 Td (in ) Tj ET Q q 0 0 0 rg BT 109.71 541.65 Td (or ) Tj ET Q q 0 0 0 rg BT 118.82 541.65 Td (contemplated ) Tj ET Q q 0 0 0 rg BT 163.92 541.65 Td (by ) Tj ET Q q 0 0 0 rg BT 173.47 541.65 Td (the ) Tj ET Q q 0 0 0 rg BT 185.25 541.65 Td (forwar) Tj ET Q q 0 0 0 rg BT 206.73 541.65 Td (d-looking ) Tj ET Q q 0 0 0 rg BT 239.39 541.65 Td (statements ) Tj ET Q q 0 0 0 rg BT 275.17 541.65 Td (contained ) Tj ET Q q 0 0 0 rg BT 308.71 541.65 Td (in ) Tj ET Q q 0 0 0 rg BT 316.94 541.65 Td (this ) Tj ET Q q 0 0 0 rg BT 330.50 541.65 Td (r) Tj ET Q q 0 0 0 rg BT 333.31 541.65 Td (eport.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 526.00 Td (Important ) Tj ET Q q 0 0 0 rg BT 83.42 526.00 Td (factors ) Tj ET Q q 0 0 0 rg BT 107.56 526.00 Td (that ) Tj ET Q q 0 0 0 rg BT 121.92 526.00 Td (contribute ) Tj ET Q q 0 0 0 rg BT 156.72 526.00 Td (to ) Tj ET Q q 0 0 0 rg BT 164.86 526.00 Td (such ) Tj ET Q q 0 0 0 rg BT 181.44 526.00 Td (risks ) Tj ET Q q 0 0 0 rg BT 198.47 526.00 Td (include, ) Tj ET Q q 0 0 0 rg BT 225.93 526.00 Td (but ) Tj ET Q q 0 0 0 rg BT 238.07 526.00 Td (ar) Tj ET Q q 0 0 0 rg BT 244.89 526.00 Td (e ) Tj ET Q q 0 0 0 rg BT 250.36 526.00 Td (not ) Tj ET Q q 0 0 0 rg BT 262.50 526.00 Td (limited ) Tj ET Q q 0 0 0 rg BT 286.63 526.00 Td (to, ) Tj ET Q q 0 0 0 rg BT 296.77 526.00 Td (those ) Tj ET Q q 0 0 0 rg BT 315.58 526.00 Td (factors ) Tj ET Q q 0 0 0 rg BT 339.72 526.00 Td (set ) Tj ET Q q 0 0 0 rg BT 350.52 526.00 Td (forth ) Tj ET Q q 0 0 0 rg BT 368.00 526.00 Td (under ) Tj ET Q q 0 0 0 rg BT 388.58 526.00 Td ("Risk ) Tj ET Q q 0 0 0 rg BT 407.63 526.00 Td (Factors ) Tj ET Q q 0 0 0 rg BT 438.88 526.00 Td (as ) Tj ET Q q 0 0 0 rg BT 447.91 526.00 Td (well ) Tj ET Q q 0 0 0 rg BT 463.16 526.00 Td (as ) Tj ET Q q 0 0 0 rg BT 472.19 526.00 Td (the ) Tj ET Q q 0 0 0 rg BT 483.88 526.00 Td (following: ) Tj ET Q q 0 0 0 rg BT 518.69 526.00 Td (the ) Tj ET Q q 0 0 0 rg BT 530.38 526.00 Td (success ) Tj ET Q q 0 0 0 rg BT 556.29 526.00 Td (of ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 516.45 Td (our ) Tj ET Q q 0 0 0 rg BT 63.37 516.45 Td (efforts ) Tj ET Q q 0 0 0 rg BT 86.58 516.45 Td (to ) Tj ET Q q 0 0 0 rg BT 95.56 516.45 Td (incr) Tj ET Q q 0 0 0 rg BT 108.15 516.45 Td (ease ) Tj ET Q q 0 0 0 rg BT 125.13 516.45 Td (our ) Tj ET Q q 0 0 0 rg BT 139.00 516.45 Td (r) Tj ET Q q 0 0 0 rg BT 141.81 516.45 Td (evenues ) Tj ET Q q 0 0 0 rg BT 169.89 516.45 Td (and ) Tj ET Q q 0 0 0 rg BT 184.65 516.45 Td (r) Tj ET Q q 0 0 0 rg BT 187.47 516.45 Td (ecaptur) Tj ET Q q 0 0 0 rg BT 211.61 516.45 Td (e ) Tj ET Q q 0 0 0 rg BT 217.92 516.45 Td (advertising ) Tj ET Q q 0 0 0 rg BT 256.67 516.45 Td (market ) Tj ET Q q 0 0 0 rg BT 281.65 516.45 Td (shar) Tj ET Q q 0 0 0 rg BT 295.58 516.45 Td (e ) Tj ET Q q 0 0 0 rg BT 301.89 516.45 Td (in ) Tj ET Q q 0 0 0 rg BT 310.87 516.45 Td (the ) Tj ET Q q 0 0 0 rg BT 323.40 516.45 Td (Czech ) Tj ET Q q 0 0 0 rg BT 345.71 516.45 Td (Republic; ) Tj ET Q q 0 0 0 rg BT 379.57 516.45 Td (levels ) Tj ET Q q 0 0 0 rg BT 400.54 516.45 Td (of ) Tj ET Q q 0 0 0 rg BT 409.53 516.45 Td (television ) Tj ET Q q 0 0 0 rg BT 442.94 516.45 Td (advertising ) Tj ET Q q 0 0 0 rg BT 481.70 516.45 Td (spending ) Tj ET Q q 0 0 0 rg BT 513.34 516.45 Td (and ) Tj ET Q q 0 0 0 rg BT 528.10 516.45 Td (the ) Tj ET Q q 0 0 0 rg BT 540.64 516.45 Td (rate ) Tj ET Q q 0 0 0 rg BT 556.28 516.45 Td (of ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 506.85 Td (development ) Tj ET Q q 0 0 0 rg BT 91.80 506.85 Td (of ) Tj ET Q q 0 0 0 rg BT 99.89 506.85 Td (the ) Tj ET Q q 0 0 0 rg BT 111.54 506.85 Td (advertising ) Tj ET Q q 0 0 0 rg BT 149.41 506.85 Td (markets ) Tj ET Q q 0 0 0 rg BT 176.61 506.85 Td (in ) Tj ET Q q 0 0 0 rg BT 184.71 506.85 Td (the ) Tj ET Q q 0 0 0 rg BT 196.35 506.85 Td (countries ) Tj ET Q q 0 0 0 rg BT 228.00 506.85 Td (in ) Tj ET Q q 0 0 0 rg BT 236.10 506.85 Td (which ) Tj ET Q q 0 0 0 rg BT 257.08 506.85 Td (we ) Tj ET Q q 0 0 0 rg BT 267.84 506.85 Td (operate; ) Tj ET Q q 0 0 0 rg BT 296.81 506.85 Td (the ) Tj ET Q q 0 0 0 rg BT 308.46 506.85 Td (effect ) Tj ET Q q 0 0 0 rg BT 327.65 506.85 Td (of ) Tj ET Q q 0 0 0 rg BT 335.75 506.85 Td (the ) Tj ET Q q 0 0 0 rg BT 347.39 506.85 Td (global ) Tj ET Q q 0 0 0 rg BT 369.71 506.85 Td (economic ) Tj ET Q q 0 0 0 rg BT 402.24 506.85 Td (slowdown ) Tj ET Q q 0 0 0 rg BT 436.12 506.85 Td (and ) Tj ET Q q 0 0 0 rg BT 449.99 506.85 Td (Eur) Tj ET Q q 0 0 0 rg BT 461.70 506.85 Td (ozone ) Tj ET Q q 0 0 0 rg BT 482.23 506.85 Td (instability ) Tj ET Q q 0 0 0 rg BT 516.11 506.85 Td (in ) Tj ET Q q 0 0 0 rg BT 524.20 506.85 Td (our ) Tj ET Q q 0 0 0 rg BT 537.19 506.85 Td (markets ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 497.25 Td (and ) Tj ET Q q 0 0 0 rg BT 63.43 497.25 Td (the ) Tj ET Q q 0 0 0 rg BT 75.13 497.25 Td (extent ) Tj ET Q q 0 0 0 rg BT 96.15 497.25 Td (and ) Tj ET Q q 0 0 0 rg BT 110.08 497.25 Td (timing ) Tj ET Q q 0 0 0 rg BT 132.46 497.25 Td (of ) Tj ET Q q 0 0 0 rg BT 140.61 497.25 Td (any ) Tj ET Q q 0 0 0 rg BT 154.08 497.25 Td (r) Tj ET Q q 0 0 0 rg BT 156.90 497.25 Td (ecovery; ) Tj ET Q q 0 0 0 rg BT 186.36 497.25 Td (the ) Tj ET Q q 0 0 0 rg BT 198.06 497.25 Td (extent ) Tj ET Q q 0 0 0 rg BT 219.09 497.25 Td (to ) Tj ET Q q 0 0 0 rg BT 227.24 497.25 Td (which ) Tj ET Q q 0 0 0 rg BT 248.27 497.25 Td (our ) Tj ET Q q 0 0 0 rg BT 261.31 497.25 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 289.91 497.25 Td (constraints ) Tj ET Q q 0 0 0 rg BT 327.39 497.25 Td (and ) Tj ET Q q 0 0 0 rg BT 341.32 497.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 357.02 497.25 Td (service ) Tj ET Q q 0 0 0 rg BT 381.60 497.25 Td (obligations ) Tj ET Q q 0 0 0 rg BT 419.53 497.25 Td (r) Tj ET Q q 0 0 0 rg BT 422.35 497.25 Td (estrict ) Tj ET Q q 0 0 0 rg BT 444.27 497.25 Td (our ) Tj ET Q q 0 0 0 rg BT 457.31 497.25 Td (business; ) Tj ET Q q 0 0 0 rg BT 489.02 497.25 Td (our ) Tj ET Q q 0 0 0 rg BT 502.06 497.25 Td (ability ) Tj ET Q q 0 0 0 rg BT 524.43 497.25 Td (to ) Tj ET Q q 0 0 0 rg BT 532.58 497.25 Td (r) Tj ET Q q 0 0 0 rg BT 535.40 497.25 Td (efinance ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 487.60 Td (our ) Tj ET Q q 0 0 0 rg BT 62.72 487.60 Td (existing ) Tj ET Q q 0 0 0 rg BT 89.71 487.60 Td (indebtedness; ) Tj ET Q q 0 0 0 rg BT 135.81 487.60 Td (our ) Tj ET Q q 0 0 0 rg BT 149.04 487.60 Td (exposur) Tj ET Q q 0 0 0 rg BT 174.07 487.60 Td (e ) Tj ET Q q 0 0 0 rg BT 179.73 487.60 Td (to ) Tj ET Q q 0 0 0 rg BT 188.06 487.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 223.06 487.60 Td (tax ) Tj ET Q q 0 0 0 rg BT 234.94 487.60 Td (liabilities; ) Tj ET Q q 0 0 0 rg BT 269.94 487.60 Td (our ) Tj ET Q q 0 0 0 rg BT 283.16 487.60 Td (success ) Tj ET Q q 0 0 0 rg BT 309.26 487.60 Td (in ) Tj ET Q q 0 0 0 rg BT 317.59 487.60 Td (continuing ) Tj ET Q q 0 0 0 rg BT 353.92 487.60 Td (our ) Tj ET Q q 0 0 0 rg BT 367.14 487.60 Td (initiatives ) Tj ET Q q 0 0 0 rg BT 400.80 487.60 Td (to ) Tj ET Q q 0 0 0 rg BT 409.14 487.60 Td (diversify ) Tj ET Q q 0 0 0 rg BT 438.79 487.60 Td (and ) Tj ET Q q 0 0 0 rg BT 452.90 487.60 Td (enhance ) Tj ET Q q 0 0 0 rg BT 481.66 487.60 Td (our ) Tj ET Q q 0 0 0 rg BT 494.89 487.60 Td (r) Tj ET Q q 0 0 0 rg BT 497.70 487.60 Td (evenue ) Tj ET Q q 0 0 0 rg BT 522.02 487.60 Td (str) Tj ET Q q 0 0 0 rg BT 530.17 487.60 Td (eams; ) Tj ET Q q 0 0 0 rg BT 551.38 487.60 Td (our ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 478.05 Td (ability ) Tj ET Q q 0 0 0 rg BT 71.77 478.05 Td (to ) Tj ET Q q 0 0 0 rg BT 79.81 478.05 Td (make ) Tj ET Q q 0 0 0 rg BT 98.52 478.05 Td (cost-effective ) Tj ET Q q 0 0 0 rg BT 142.54 478.05 Td (investments ) Tj ET Q q 0 0 0 rg BT 181.68 478.05 Td (in ) Tj ET Q q 0 0 0 rg BT 189.73 478.05 Td (television ) Tj ET Q q 0 0 0 rg BT 222.21 478.05 Td (br) Tj ET Q q 0 0 0 rg BT 229.03 478.05 Td (oadcast ) Tj ET Q q 0 0 0 rg BT 255.74 478.05 Td (operations, ) Tj ET Q q 0 0 0 rg BT 293.79 478.05 Td (including ) Tj ET Q q 0 0 0 rg BT 325.83 478.05 Td (investments ) Tj ET Q q 0 0 0 rg BT 364.98 478.05 Td (in ) Tj ET Q q 0 0 0 rg BT 373.02 478.05 Td (pr) Tj ET Q q 0 0 0 rg BT 379.84 478.05 Td (ogramming; ) Tj ET Q q 0 0 0 rg BT 421.22 478.05 Td (our ) Tj ET Q q 0 0 0 rg BT 434.16 478.05 Td (ability ) Tj ET Q q 0 0 0 rg BT 456.42 478.05 Td (to ) Tj ET Q q 0 0 0 rg BT 464.47 478.05 Td (develop ) Tj ET Q q 0 0 0 rg BT 491.17 478.05 Td (and ) Tj ET Q q 0 0 0 rg BT 504.99 478.05 Td (acquir) Tj ET Q q 0 0 0 rg BT 525.58 478.05 Td (e ) Tj ET Q q 0 0 0 rg BT 530.96 478.05 Td (necessary ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 468.45 Td (pr) Tj ET Q q 0 0 0 rg BT 56.32 468.45 Td (ogramming ) Tj ET Q q 0 0 0 rg BT 95.48 468.45 Td (and ) Tj ET Q q 0 0 0 rg BT 109.76 468.45 Td (attract ) Tj ET Q q 0 0 0 rg BT 133.37 468.45 Td (audiences; ) Tj ET Q q 0 0 0 rg BT 170.29 468.45 Td (changes ) Tj ET Q q 0 0 0 rg BT 198.78 468.45 Td (in ) Tj ET Q q 0 0 0 rg BT 207.28 468.45 Td (the ) Tj ET Q q 0 0 0 rg BT 219.33 468.45 Td (political ) Tj ET Q q 0 0 0 rg BT 248.27 468.45 Td (and ) Tj ET Q q 0 0 0 rg BT 262.54 468.45 Td (r) Tj ET Q q 0 0 0 rg BT 265.36 468.45 Td (egulatory ) Tj ET Q q 0 0 0 rg BT 298.30 468.45 Td (envir) Tj ET Q q 0 0 0 rg BT 314.44 468.45 Td (onments ) Tj ET Q q 0 0 0 rg BT 343.38 468.45 Td (wher) Tj ET Q q 0 0 0 rg BT 359.08 468.45 Td (e ) Tj ET Q q 0 0 0 rg BT 364.91 468.45 Td (we ) Tj ET Q q 0 0 0 rg BT 376.07 468.45 Td (operate ) Tj ET Q q 0 0 0 rg BT 402.78 468.45 Td (and ) Tj ET Q q 0 0 0 rg BT 417.06 468.45 Td (application ) Tj ET Q q 0 0 0 rg BT 455.77 468.45 Td (of ) Tj ET Q q 0 0 0 rg BT 464.27 468.45 Td (r) Tj ET Q q 0 0 0 rg BT 467.09 468.45 Td (elevant ) Tj ET Q q 0 0 0 rg BT 492.46 468.45 Td (laws ) Tj ET Q q 0 0 0 rg BT 509.41 468.45 Td (and ) Tj ET Q q 0 0 0 rg BT 523.68 468.45 Td (r) Tj ET Q q 0 0 0 rg BT 526.50 468.45 Td (egulations; ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 458.85 Td (and ) Tj ET Q q 0 0 0 rg BT 63.71 458.85 Td (the ) Tj ET Q q 0 0 0 rg BT 75.69 458.85 Td (timely ) Tj ET Q q 0 0 0 rg BT 97.44 458.85 Td (r) Tj ET Q q 0 0 0 rg BT 100.25 458.85 Td (enewal ) Tj ET Q q 0 0 0 rg BT 125.12 458.85 Td (of ) Tj ET Q q 0 0 0 rg BT 133.55 458.85 Td (br) Tj ET Q q 0 0 0 rg BT 140.37 458.85 Td (oadcasting ) Tj ET Q q 0 0 0 rg BT 177.68 458.85 Td (licenses ) Tj ET Q q 0 0 0 rg BT 205.21 458.85 Td (and ) Tj ET Q q 0 0 0 rg BT 219.42 458.85 Td (our ) Tj ET Q q 0 0 0 rg BT 232.74 458.85 Td (ability ) Tj ET Q q 0 0 0 rg BT 255.38 458.85 Td (to ) Tj ET Q q 0 0 0 rg BT 263.81 458.85 Td (obtain ) Tj ET Q q 0 0 0 rg BT 286.46 458.85 Td (additional ) Tj ET Q q 0 0 0 rg BT 321.56 458.85 Td (fr) Tj ET Q q 0 0 0 rg BT 326.60 458.85 Td (equencies ) Tj ET Q q 0 0 0 rg BT 360.35 458.85 Td (and ) Tj ET Q q 0 0 0 rg BT 374.55 458.85 Td (licenses. ) Tj ET Q q 0 0 0 rg BT 404.08 458.85 Td (The ) Tj ET Q q 0 0 0 rg BT 418.29 458.85 Td (for) Tj ET Q q 0 0 0 rg BT 427.33 458.85 Td (egoing ) Tj ET Q q 0 0 0 rg BT 451.31 458.85 Td (r) Tj ET Q q 0 0 0 rg BT 454.12 458.85 Td (eview ) Tj ET Q q 0 0 0 rg BT 474.54 458.85 Td (of ) Tj ET Q q 0 0 0 rg BT 482.97 458.85 Td (important ) Tj ET Q q 0 0 0 rg BT 516.73 458.85 Td (factors ) Tj ET Q q 0 0 0 rg BT 541.16 458.85 Td (should ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 449.25 Td (not ) Tj ET Q q 0 0 0 rg BT 61.56 449.25 Td (be ) Tj ET Q q 0 0 0 rg BT 70.96 449.25 Td (construed ) Tj ET Q q 0 0 0 rg BT 104.35 449.25 Td (as ) Tj ET Q q 0 0 0 rg BT 113.30 449.25 Td (exhaustive ) Tj ET Q q 0 0 0 rg BT 148.91 449.25 Td (and ) Tj ET Q q 0 0 0 rg BT 162.75 449.25 Td (should ) Tj ET Q q 0 0 0 rg BT 185.93 449.25 Td (be ) Tj ET Q q 0 0 0 rg BT 195.32 449.25 Td (r) Tj ET Q q 0 0 0 rg BT 198.14 449.25 Td (ead ) Tj ET Q q 0 0 0 rg BT 211.53 449.25 Td (in ) Tj ET Q q 0 0 0 rg BT 219.59 449.25 Td (conjunction ) Tj ET Q q 0 0 0 rg BT 259.21 449.25 Td (with ) Tj ET Q q 0 0 0 rg BT 274.83 449.25 Td (other ) Tj ET Q q 0 0 0 rg BT 293.56 449.25 Td (cautionary ) Tj ET Q q 0 0 0 rg BT 330.06 449.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 365.67 449.25 Td (that ) Tj ET Q q 0 0 0 rg BT 379.96 449.25 Td (ar) Tj ET Q q 0 0 0 rg BT 386.78 449.25 Td (e ) Tj ET Q q 0 0 0 rg BT 392.17 449.25 Td (included ) Tj ET Q q 0 0 0 rg BT 421.56 449.25 Td (in ) Tj ET Q q 0 0 0 rg BT 429.62 449.25 Td (this ) Tj ET Q q 0 0 0 rg BT 443.02 449.25 Td (r) Tj ET Q q 0 0 0 rg BT 445.84 449.25 Td (eport. ) Tj ET Q q 0 0 0 rg BT 466.57 449.25 Td (W) Tj ET Q q 0 0 0 rg BT 472.50 449.25 Td (e ) Tj ET Q q 0 0 0 rg BT 477.89 449.25 Td (undertake ) Tj ET Q q 0 0 0 rg BT 511.72 449.25 Td (no ) Tj ET Q q 0 0 0 rg BT 521.56 449.25 Td (obligation ) Tj ET Q q 0 0 0 rg BT 556.29 449.25 Td (to ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 439.60 Td (publicly ) Tj ET Q q 0 0 0 rg BT 77.27 439.60 Td (update ) Tj ET Q q 0 0 0 rg BT 101.04 439.60 Td (or ) Tj ET Q q 0 0 0 rg BT 110.16 439.60 Td (r) Tj ET Q q 0 0 0 rg BT 112.97 439.60 Td (eview ) Tj ET Q q 0 0 0 rg BT 133.18 439.60 Td (any ) Tj ET Q q 0 0 0 rg BT 146.73 439.60 Td (forwar) Tj ET Q q 0 0 0 rg BT 168.22 439.60 Td (d-looking ) Tj ET Q q 0 0 0 rg BT 200.88 439.60 Td (statements, ) Tj ET Q q 0 0 0 rg BT 238.66 439.60 Td (whether ) Tj ET Q q 0 0 0 rg BT 266.43 439.60 Td (as ) Tj ET Q q 0 0 0 rg BT 275.54 439.60 Td (a ) Tj ET Q q 0 0 0 rg BT 281.54 439.60 Td (r) Tj ET Q q 0 0 0 rg BT 284.36 439.60 Td (esult ) Tj ET Q q 0 0 0 rg BT 301.47 439.60 Td (of ) Tj ET Q q 0 0 0 rg BT 309.69 439.60 Td (new ) Tj ET Q q 0 0 0 rg BT 324.58 439.60 Td (information, ) Tj ET Q q 0 0 0 rg BT 366.36 439.60 Td (futur) Tj ET Q q 0 0 0 rg BT 381.62 439.60 Td (e ) Tj ET Q q 0 0 0 rg BT 387.17 439.60 Td (developments ) Tj ET Q q 0 0 0 rg BT 432.71 439.60 Td (or ) Tj ET Q q 0 0 0 rg BT 441.82 439.60 Td (otherwise.) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 405.40 Td (Defined ) Tj ET Q q 0 0 0 rg BT 77.71 405.40 Td (T) Tj ET Q q 0 0 0 rg BT 81.87 405.40 Td (erms) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 389.80 Td (Unless ) Tj ET Q q 0 0 0 rg BT 73.21 389.80 Td (the ) Tj ET Q q 0 0 0 rg BT 84.92 389.80 Td (context ) Tj ET Q q 0 0 0 rg BT 110.41 389.80 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 143.45 389.80 Td (requires, ) Tj ET Q q 0 0 0 rg BT 173.15 389.80 Td (references ) Tj ET Q q 0 0 0 rg BT 207.94 389.80 Td (in ) Tj ET Q q 0 0 0 rg BT 216.10 389.80 Td (this ) Tj ET Q q 0 0 0 rg BT 229.60 389.80 Td (report ) Tj ET Q q 0 0 0 rg BT 250.64 389.80 Td (to ) Tj ET Q q 0 0 0 rg BT 258.79 389.80 Td (the ) Tj ET Q q 0 0 0 rg BT 270.50 389.80 Td (Company, ) Tj ET Q q 0 0 0 rg BT 312.65 389.80 Td (CME, ) Tj ET Q q 0 0 0 rg BT 341.03 389.80 Td (we, ) Tj ET Q q 0 0 0 rg BT 361.39 389.80 Td (us ) Tj ET Q q 0 0 0 rg BT 377.54 389.80 Td (or ) Tj ET Q q 0 0 0 rg BT 386.14 389.80 Td (our ) Tj ET Q q 0 0 0 rg BT 405.85 389.80 Td (refer ) Tj ET Q q 0 0 0 rg BT 422.88 389.80 Td (to ) Tj ET Q q 0 0 0 rg BT 431.04 389.80 Td (Central ) Tj ET Q q 0 0 0 rg BT 456.52 389.80 Td (European ) Tj ET Q q 0 0 0 rg BT 489.11 389.80 Td (Media ) Tj ET Q q 0 0 0 rg BT 511.48 389.80 Td (Enterprises ) Tj ET Q q 0 0 0 rg BT 549.41 389.80 Td (Ltd. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 380.20 Td (\(CME ) Tj ET Q q 0 0 0 rg BT 74.40 380.20 Td (Ltd.\) ) Tj ET Q q 0 0 0 rg BT 95.08 380.20 Td (or ) Tj ET Q q 0 0 0 rg BT 103.10 380.20 Td (CME ) Tj ET Q q 0 0 0 rg BT 121.79 380.20 Td (Ltd. ) Tj ET Q q 0 0 0 rg BT 136.25 380.20 Td (and ) Tj ET Q q 0 0 0 rg BT 149.16 380.20 Td (its ) Tj ET Q q 0 0 0 rg BT 158.07 380.20 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 199.86 380.20 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 238.98 380.20 Td (listed ) Tj ET Q q 0 0 0 rg BT 257.67 380.20 Td (in ) Tj ET Q q 0 0 0 rg BT 265.24 380.20 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 290.15 380.20 Td (21.01 ) Tj ET Q q 0 0 0 rg BT 309.51 380.20 Td (hereto. ) Tj ET Q q 0 0 0 rg BT 332.85 380.20 Td (Unless ) Tj ET Q q 0 0 0 rg BT 355.98 380.20 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 388.43 380.20 Td (noted, ) Tj ET Q q 0 0 0 rg BT 409.56 380.20 Td (all ) Tj ET Q q 0 0 0 rg BT 418.91 380.20 Td (statistical ) Tj ET Q q 0 0 0 rg BT 450.48 380.20 Td (and ) Tj ET Q q 0 0 0 rg BT 463.38 380.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 492.72 380.20 Td (information ) Tj ET Q q 0 0 0 rg BT 531.84 380.20 Td (presented ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 370.60 Td (in ) Tj ET Q q 0 0 0 rg BT 58.28 370.60 Td (this ) Tj ET Q q 0 0 0 rg BT 72.40 370.60 Td (report ) Tj ET Q q 0 0 0 rg BT 94.07 370.60 Td (has ) Tj ET Q q 0 0 0 rg BT 107.29 370.60 Td (been ) Tj ET Q q 0 0 0 rg BT 124.96 370.60 Td (converted ) Tj ET Q q 0 0 0 rg BT 159.06 370.60 Td (into ) Tj ET Q q 0 0 0 rg BT 174.06 370.60 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 190.85 370.60 Td (dollars ) Tj ET Q q 0 0 0 rg BT 215.19 370.60 Td (using ) Tj ET Q q 0 0 0 rg BT 235.08 370.60 Td (period-end ) Tj ET Q q 0 0 0 rg BT 272.30 370.60 Td (exchange ) Tj ET Q q 0 0 0 rg BT 305.06 370.60 Td (rates. ) Tj ET Q q 0 0 0 rg BT 324.16 370.60 Td (All ) Tj ET Q q 0 0 0 rg BT 336.94 370.60 Td (references ) Tj ET Q q 0 0 0 rg BT 372.37 370.60 Td (in ) Tj ET Q q 0 0 0 rg BT 381.15 370.60 Td (this ) Tj ET Q q 0 0 0 rg BT 395.27 370.60 Td (report ) Tj ET Q q 0 0 0 rg BT 416.93 370.60 Td (to ) Tj ET Q q 0 0 0 rg BT 425.72 370.60 Td (US$ ) Tj ET Q q 0 0 0 rg BT 449.61 370.60 Td (or ) Tj ET Q q 0 0 0 rg BT 458.83 370.60 Td (dollars ) Tj ET Q q 0 0 0 rg BT 490.27 370.60 Td (are ) Tj ET Q q 0 0 0 rg BT 502.60 370.60 Td (to ) Tj ET Q q 0 0 0 rg BT 511.38 370.60 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 528.17 370.60 Td (dollars, ) Tj ET Q q 0 0 0 rg BT 554.50 370.60 Td (all ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 361.00 Td (references ) Tj ET Q q 0 0 0 rg BT 84.45 361.00 Td (to ) Tj ET Q q 0 0 0 rg BT 92.77 361.00 Td (BGN ) Tj ET Q q 0 0 0 rg BT 118.86 361.00 Td (are ) Tj ET Q q 0 0 0 rg BT 130.71 361.00 Td (to ) Tj ET Q q 0 0 0 rg BT 139.03 361.00 Td (Bulgarian ) Tj ET Q q 0 0 0 rg BT 172.67 361.00 Td (lev) Tj ET Q q 0 0 0 rg BT 181.93 361.00 Td (, ) Tj ET Q q 0 0 0 rg BT 186.02 361.00 Td (all ) Tj ET Q q 0 0 0 rg BT 196.11 361.00 Td (references ) Tj ET Q q 0 0 0 rg BT 231.06 361.00 Td (to ) Tj ET Q q 0 0 0 rg BT 239.38 361.00 Td (HRK ) Tj ET Q q 0 0 0 rg BT 265.46 361.00 Td (are ) Tj ET Q q 0 0 0 rg BT 277.32 361.00 Td (to ) Tj ET Q q 0 0 0 rg BT 285.64 361.00 Td (Croatian ) Tj ET Q q 0 0 0 rg BT 315.28 361.00 Td (kuna, ) Tj ET Q q 0 0 0 rg BT 334.93 361.00 Td (all ) Tj ET Q q 0 0 0 rg BT 345.02 361.00 Td (references ) Tj ET Q q 0 0 0 rg BT 379.97 361.00 Td (to ) Tj ET Q q 0 0 0 rg BT 388.29 361.00 Td (CZK ) Tj ET Q q 0 0 0 rg BT 413.48 361.00 Td (are ) Tj ET Q q 0 0 0 rg BT 425.34 361.00 Td (to ) Tj ET Q q 0 0 0 rg BT 433.66 361.00 Td (Czech ) Tj ET Q q 0 0 0 rg BT 455.74 361.00 Td (korunas, ) Tj ET Q q 0 0 0 rg BT 485.16 361.00 Td (all ) Tj ET Q q 0 0 0 rg BT 495.25 361.00 Td (references ) Tj ET Q q 0 0 0 rg BT 530.20 361.00 Td (to ) Tj ET Q q 0 0 0 rg BT 538.52 361.00 Td (RON ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 351.40 Td (are ) Tj ET Q q 0 0 0 rg BT 61.51 351.40 Td (to ) Tj ET Q q 0 0 0 rg BT 69.98 351.40 Td (the ) Tj ET Q q 0 0 0 rg BT 82.00 351.40 Td (New ) Tj ET Q q 0 0 0 rg BT 99.36 351.40 Td (Romanian ) Tj ET Q q 0 0 0 rg BT 134.49 351.40 Td (lei ) Tj ET Q q 0 0 0 rg BT 144.73 351.40 Td (and ) Tj ET Q q 0 0 0 rg BT 158.53 351.40 Td (all ) Tj ET Q q 0 0 0 rg BT 168.77 351.40 Td (references ) Tj ET Q q 0 0 0 rg BT 203.88 351.40 Td (to ) Tj ET Q q 0 0 0 rg BT 212.35 351.40 Td (Euro ) Tj ET Q q 0 0 0 rg BT 237.25 351.40 Td (or ) Tj ET Q q 0 0 0 rg BT 246.16 351.40 Td (EUR ) Tj ET Q q 0 0 0 rg BT 271.50 351.40 Td (are ) Tj ET Q q 0 0 0 rg BT 283.52 351.40 Td (to ) Tj ET Q q 0 0 0 rg BT 291.99 351.40 Td (the ) Tj ET Q q 0 0 0 rg BT 304.01 351.40 Td (European ) Tj ET Q q 0 0 0 rg BT 336.91 351.40 Td (Union ) Tj ET Q q 0 0 0 rg BT 359.15 351.40 Td (Euro. ) Tj ET Q q 0 0 0 rg BT 378.79 351.40 Td (The ) Tj ET Q q 0 0 0 rg BT 393.47 351.40 Td (exchange ) Tj ET Q q 0 0 0 rg BT 425.92 351.40 Td (rates ) Tj ET Q q 0 0 0 rg BT 443.27 351.40 Td (as ) Tj ET Q q 0 0 0 rg BT 452.18 351.40 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.20 351.40 Td (December31, ) Tj ET Q q 0 0 0 rg BT 507.32 351.40 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.32 351.40 Td ( ) Tj ET Q q 0 0 0 rg BT 525.57 351.40 Td (used ) Tj ET Q q 0 0 0 rg BT 542.48 351.40 Td (in ) Tj ET Q q 0 0 0 rg BT 550.95 351.40 Td (this ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 341.80 Td (report ) Tj ET Q q 0 0 0 rg BT 70.60 341.80 Td (are ) Tj ET Q q 0 0 0 rg BT 82.37 341.80 Td (BGN/US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 117.71 341.80 Td (1.61) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 131.71 341.80 Td (; ) Tj ET Q q 0 0 0 rg BT 135.93 341.80 Td (HRK/US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 171.27 341.80 Td (6.30) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 185.27 341.80 Td (; ) Tj ET Q q 0 0 0 rg BT 189.49 341.80 Td (CZK/US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 223.94 341.80 Td (22.83) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.94 341.80 Td (; ) Tj ET Q q 0 0 0 rg BT 246.16 341.80 Td (RON/US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 281.50 341.80 Td (3.69) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.50 341.80 Td (; ) Tj ET Q q 0 0 0 rg BT 299.73 341.80 Td (and ) Tj ET Q q 0 0 0 rg BT 313.28 341.80 Td (EUR/US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 347.73 341.80 Td (0.82) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 361.73 341.80 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 326.20 Td (As ) Tj ET Q q 0 0 0 rg BT 60.48 326.20 Td (used ) Tj ET Q q 0 0 0 rg BT 77.24 326.20 Td (herein, ) Tj ET Q q 0 0 0 rg BT 101.32 326.20 Td (the ) Tj ET Q q 0 0 0 rg BT 113.18 326.20 Td (term ) Tj ET Q q 0 0 0 rg BT 129.93 326.20 Td (2015 ) Tj ET Q q 0 0 0 rg BT 151.57 326.20 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 191.43 326.20 Td (Notes ) Tj ET Q q 0 0 0 rg BT 215.74 326.20 Td (refers ) Tj ET Q q 0 0 0 rg BT 236.04 326.20 Td (to ) Tj ET Q q 0 0 0 rg BT 244.35 326.20 Td (our ) Tj ET Q q 0 0 0 rg BT 257.10 326.20 Td (5.0% ) Tj ET Q q 0 0 0 rg BT 275.86 326.20 Td (senior ) Tj ET Q q 0 0 0 rg BT 297.50 326.20 Td (convertible ) Tj ET Q q 0 0 0 rg BT 335.58 326.20 Td (notes ) Tj ET Q q 0 0 0 rg BT 354.55 326.20 Td (due ) Tj ET Q q 0 0 0 rg BT 368.20 326.20 Td (November ) Tj ET Q q 0 0 0 rg BT 404.05 326.20 Td (2015; ) Tj ET Q q 0 0 0 rg BT 424.37 326.20 Td (the ) Tj ET Q q 0 0 0 rg BT 436.23 326.20 Td (term ) Tj ET Q q 0 0 0 rg BT 452.98 326.20 Td (2016 ) Tj ET Q q 0 0 0 rg BT 474.62 326.20 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 494.94 326.20 Td (Rate ) Tj ET Q q 0 0 0 rg BT 511.69 326.20 Td (Notes ) Tj ET Q q 0 0 0 rg BT 535.99 326.20 Td (refers ) Tj ET Q q 0 0 0 rg BT 556.29 326.20 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 316.60 Td (our ) Tj ET Q q 0 0 0 rg BT 61.90 316.60 Td (redeemed ) Tj ET Q q 0 0 0 rg BT 94.73 316.60 Td (and ) Tj ET Q q 0 0 0 rg BT 108.03 316.60 Td (dischar) Tj ET Q q 0 0 0 rg BT 130.98 316.60 Td (ged ) Tj ET Q q 0 0 0 rg BT 144.27 316.60 Td (1) Tj ET Q q 0 0 0 rg BT 147.98 316.60 Td (1.625% ) Tj ET Q q 0 0 0 rg BT 174.38 316.60 Td (senior ) Tj ET Q q 0 0 0 rg BT 195.67 316.60 Td (notes ) Tj ET Q q 0 0 0 rg BT 214.30 316.60 Td (due ) Tj ET Q q 0 0 0 rg BT 227.59 316.60 Td (2016; ) Tj ET Q q 0 0 0 rg BT 247.55 316.60 Td (the ) Tj ET Q q 0 0 0 rg BT 259.07 316.60 Td (term ) Tj ET Q q 0 0 0 rg BT 275.47 316.60 Td (2017 ) Tj ET Q q 0 0 0 rg BT 296.76 316.60 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 316.72 316.60 Td (Rate ) Tj ET Q q 0 0 0 rg BT 333.12 316.60 Td (Notes ) Tj ET Q q 0 0 0 rg BT 357.08 316.60 Td (refers ) Tj ET Q q 0 0 0 rg BT 377.02 316.60 Td (to ) Tj ET Q q 0 0 0 rg BT 384.99 316.60 Td (our ) Tj ET Q q 0 0 0 rg BT 397.39 316.60 Td (redeemed ) Tj ET Q q 0 0 0 rg BT 430.22 316.60 Td (and ) Tj ET Q q 0 0 0 rg BT 443.51 316.60 Td (dischar) Tj ET Q q 0 0 0 rg BT 466.47 316.60 Td (ged ) Tj ET Q q 0 0 0 rg BT 479.76 316.60 Td (9.0% ) Tj ET Q q 0 0 0 rg BT 498.16 316.60 Td (senior ) Tj ET Q q 0 0 0 rg BT 519.46 316.60 Td (secured ) Tj ET Q q 0 0 0 rg BT 545.63 316.60 Td (notes ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 307.00 Td (due ) Tj ET Q q 0 0 0 rg BT 63.04 307.00 Td (2017 ) Tj ET Q q 0 0 0 rg BT 81.02 307.00 Td (issued ) Tj ET Q q 0 0 0 rg BT 103.01 307.00 Td (by ) Tj ET Q q 0 0 0 rg BT 112.99 307.00 Td (our ) Tj ET Q q 0 0 0 rg BT 125.64 307.00 Td (wholly ) Tj ET Q q 0 0 0 rg BT 149.85 307.00 Td (owned ) Tj ET Q q 0 0 0 rg BT 173.16 307.00 Td (subsidiary) Tj ET Q q 0 0 0 rg BT 205.53 307.00 Td (, ) Tj ET Q q 0 0 0 rg BT 209.52 307.00 Td (CET) Tj ET Q q 0 0 0 rg BT 224.48 307.00 Td ( ) Tj ET Q q 0 0 0 rg BT 226.47 307.00 Td (21 ) Tj ET Q q 0 0 0 rg BT 236.45 307.00 Td (spol. ) Tj ET Q q 0 0 0 rg BT 253.77 307.00 Td (s ) Tj ET Q q 0 0 0 rg BT 258.87 307.00 Td (r) Tj ET Q q 0 0 0 rg BT 261.09 307.00 Td (.o. ) Tj ET Q q 0 0 0 rg BT 271.08 307.00 Td (\(CET) Tj ET Q q 0 0 0 rg BT 292.26 307.00 Td ( ) Tj ET Q q 0 0 0 rg BT 294.24 307.00 Td (21\); ) Tj ET Q q 0 0 0 rg BT 312.67 307.00 Td (the ) Tj ET Q q 0 0 0 rg BT 324.43 307.00 Td (term ) Tj ET Q q 0 0 0 rg BT 341.07 307.00 Td ("2017 ) Tj ET Q q 0 0 0 rg BT 362.32 307.00 Td (PIK ) Tj ET Q q 0 0 0 rg BT 377.20 307.00 Td (Notes" ) Tj ET Q q 0 0 0 rg BT 401.11 307.00 Td (refers ) Tj ET Q q 0 0 0 rg BT 421.31 307.00 Td (to ) Tj ET Q q 0 0 0 rg BT 429.51 307.00 Td (the ) Tj ET Q q 0 0 0 rg BT 441.27 307.00 Td (15.0% ) Tj ET Q q 0 0 0 rg BT 463.92 307.00 Td (senior ) Tj ET Q q 0 0 0 rg BT 485.46 307.00 Td (secured ) Tj ET Q q 0 0 0 rg BT 511.87 307.00 Td (notes ) Tj ET Q q 0 0 0 rg BT 530.75 307.00 Td (due ) Tj ET Q q 0 0 0 rg BT 544.28 307.00 Td (2017; ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 297.40 Td (the ) Tj ET Q q 0 0 0 rg BT 60.93 297.40 Td (term ) Tj ET Q q 0 0 0 rg BT 77.25 297.40 Td ("2017 ) Tj ET Q q 0 0 0 rg BT 98.06 297.40 Td (T) Tj ET Q q 0 0 0 rg BT 102.38 297.40 Td (erm ) Tj ET Q q 0 0 0 rg BT 116.48 297.40 Td (Loan" ) Tj ET Q q 0 0 0 rg BT 137.84 297.40 Td (refers ) Tj ET Q q 0 0 0 rg BT 157.71 297.40 Td (to ) Tj ET Q q 0 0 0 rg BT 165.59 297.40 Td (the ) Tj ET Q q 0 0 0 rg BT 177.02 297.40 Td (15.0% ) Tj ET Q q 0 0 0 rg BT 199.35 297.40 Td (term ) Tj ET Q q 0 0 0 rg BT 215.67 297.40 Td (loan ) Tj ET Q q 0 0 0 rg BT 231.10 297.40 Td (due ) Tj ET Q q 0 0 0 rg BT 244.31 297.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 261.97 297.40 Td (funded ) Tj ET Q q 0 0 0 rg BT 285.84 297.40 Td (by ) Tj ET Q q 0 0 0 rg BT 295.38 297.40 Td (T) Tj ET Q q 0 0 0 rg BT 299.99 297.40 Td (ime ) Tj ET Q q 0 0 0 rg BT 313.52 297.40 Td (W) Tj ET Q q 0 0 0 rg BT 320.43 297.40 Td (arner ) Tj ET Q q 0 0 0 rg BT 338.52 297.40 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 352.40 297.40 Td (\("T) Tj ET Q q 0 0 0 rg BT 362.93 297.40 Td (ime ) Tj ET Q q 0 0 0 rg BT 376.47 297.40 Td (W) Tj ET Q q 0 0 0 rg BT 383.38 297.40 Td (arner"\); ) Tj ET Q q 0 0 0 rg BT 409.62 297.40 Td (the ) Tj ET Q q 0 0 0 rg BT 421.05 297.40 Td (term ) Tj ET Q q 0 0 0 rg BT 437.37 297.40 Td ("2017 ) Tj ET Q q 0 0 0 rg BT 458.29 297.40 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 493.29 297.40 Td (Credit ) Tj ET Q q 0 0 0 rg BT 514.94 297.40 Td (Facility" ) Tj ET Q q 0 0 0 rg BT 544.31 297.40 Td (refers ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 287.80 Td (to ) Tj ET Q q 0 0 0 rg BT 57.31 287.80 Td (our ) Tj ET Q q 0 0 0 rg BT 69.57 287.80 Td (senior ) Tj ET Q q 0 0 0 rg BT 90.71 287.80 Td (secured ) Tj ET Q q 0 0 0 rg BT 116.73 287.80 Td (floating ) Tj ET Q q 0 0 0 rg BT 143.21 287.80 Td (rate ) Tj ET Q q 0 0 0 rg BT 156.79 287.80 Td (revolving ) Tj ET Q q 0 0 0 rg BT 189.04 287.80 Td (credit ) Tj ET Q q 0 0 0 rg BT 208.84 287.80 Td (facility ) Tj ET Q q 0 0 0 rg BT 233.09 287.80 Td (due ) Tj ET Q q 0 0 0 rg BT 246.23 287.80 Td (2017 ) Tj ET Q q 0 0 0 rg BT 263.83 287.80 Td (with ) Tj ET Q q 0 0 0 rg BT 279.53 287.80 Td (T) Tj ET Q q 0 0 0 rg BT 284.13 287.80 Td (ime ) Tj ET Q q 0 0 0 rg BT 297.60 287.80 Td (W) Tj ET Q q 0 0 0 rg BT 304.51 287.80 Td (arner; ) Tj ET Q q 0 0 0 rg BT 324.76 287.80 Td (the ) Tj ET Q q 0 0 0 rg BT 336.12 287.80 Td (term ) Tj ET Q q 0 0 0 rg BT 352.38 287.80 Td ("2017 ) Tj ET Q q 0 0 0 rg BT 373.23 287.80 Td (Euro ) Tj ET Q q 0 0 0 rg BT 390.26 287.80 Td (T) Tj ET Q q 0 0 0 rg BT 394.59 287.80 Td (erm ) Tj ET Q q 0 0 0 rg BT 408.62 287.80 Td (Loan" ) Tj ET Q q 0 0 0 rg BT 429.91 287.80 Td (refers ) Tj ET Q q 0 0 0 rg BT 449.71 287.80 Td (to ) Tj ET Q q 0 0 0 rg BT 457.53 287.80 Td (the ) Tj ET Q q 0 0 0 rg BT 468.89 287.80 Td (floating ) Tj ET Q q 0 0 0 rg BT 495.37 287.80 Td (rate ) Tj ET Q q 0 0 0 rg BT 508.95 287.80 Td (senior ) Tj ET Q q 0 0 0 rg BT 530.09 287.80 Td (unsecured ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 278.20 Td (term ) Tj ET Q q 0 0 0 rg BT 66.47 278.20 Td (credit ) Tj ET Q q 0 0 0 rg BT 87.00 278.20 Td (facility ) Tj ET Q q 0 0 0 rg BT 111.96 278.20 Td (agreement ) Tj ET Q q 0 0 0 rg BT 147.59 278.20 Td (with ) Tj ET Q q 0 0 0 rg BT 164.13 278.20 Td (BNP) Tj ET Q q 0 0 0 rg BT 179.39 278.20 Td ( ) Tj ET Q q 0 0 0 rg BT 181.70 278.20 Td (Paribas ) Tj ET Q q 0 0 0 rg BT 207.57 278.20 Td (as ) Tj ET Q q 0 0 0 rg BT 216.54 278.20 Td (administrative ) Tj ET Q q 0 0 0 rg BT 264.62 278.20 Td (agent, ) Tj ET Q q 0 0 0 rg BT 286.26 278.20 Td (and ) Tj ET Q q 0 0 0 rg BT 299.95 278.20 Td (T) Tj ET Q q 0 0 0 rg BT 304.56 278.20 Td (ime ) Tj ET Q q 0 0 0 rg BT 318.70 278.20 Td (W) Tj ET Q q 0 0 0 rg BT 325.61 278.20 Td (arner ) Tj ET Q q 0 0 0 rg BT 344.35 278.20 Td (as ) Tj ET Q q 0 0 0 rg BT 353.33 278.20 Td (guarantor; ) Tj ET Q q 0 0 0 rg BT 388.52 278.20 Td (the ) Tj ET Q q 0 0 0 rg BT 400.60 278.20 Td (term ) Tj ET Q q 0 0 0 rg BT 417.58 278.20 Td (Senior ) Tj ET Q q 0 0 0 rg BT 444.33 278.20 Td (Debt ) Tj ET Q q 0 0 0 rg BT 465.74 278.20 Td (refers ) Tj ET Q q 0 0 0 rg BT 486.26 278.20 Td (collectively ) Tj ET Q q 0 0 0 rg BT 525.89 278.20 Td (to ) Tj ET Q q 0 0 0 rg BT 534.42 278.20 Td (the ) Tj ET Q q 0 0 0 rg BT 546.51 278.20 Td (2015 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 268.60 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 89.39 268.60 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 112.18 268.60 Td (2016 ) Tj ET Q q 0 0 0 rg BT 130.30 268.60 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 150.65 268.60 Td (Rate ) Tj ET Q q 0 0 0 rg BT 167.43 268.60 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 190.22 268.60 Td (2017 ) Tj ET Q q 0 0 0 rg BT 208.34 268.60 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 228.69 268.60 Td (Rate ) Tj ET Q q 0 0 0 rg BT 245.47 268.60 Td (Notes; ) Tj ET Q q 0 0 0 rg BT 268.48 268.60 Td (2017 ) Tj ET Q q 0 0 0 rg BT 286.60 268.60 Td (PIK ) Tj ET Q q 0 0 0 rg BT 301.62 268.60 Td (Notes; ) Tj ET Q q 0 0 0 rg BT 324.63 268.60 Td (2017 ) Tj ET Q q 0 0 0 rg BT 342.60 268.60 Td (T) Tj ET Q q 0 0 0 rg BT 346.92 268.60 Td (erm ) Tj ET Q q 0 0 0 rg BT 361.49 268.60 Td (Loan; ) Tj ET Q q 0 0 0 rg BT 382.27 268.60 Td (2017 ) Tj ET Q q 0 0 0 rg BT 400.39 268.60 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 435.85 268.60 Td (Credit ) Tj ET Q q 0 0 0 rg BT 457.97 268.60 Td (Facility ) Tj ET Q q 0 0 0 rg BT 484.53 268.60 Td (and ) Tj ET Q q 0 0 0 rg BT 498.20 268.60 Td (the ) Tj ET Q q 0 0 0 rg BT 510.10 268.60 Td (2017 ) Tj ET Q q 0 0 0 rg BT 528.22 268.60 Td (Euro ) Tj ET Q q 0 0 0 rg BT 545.74 268.60 Td (T) Tj ET Q q 0 0 0 rg BT 550.07 268.60 Td (erm ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 259.00 Td (Loan; ) Tj ET Q q 0 0 0 rg BT 70.55 259.00 Td (the ) Tj ET Q q 0 0 0 rg BT 82.71 259.00 Td (term ) Tj ET Q q 0 0 0 rg BT 99.76 259.00 Td ("Framework ) Tj ET Q q 0 0 0 rg BT 141.77 259.00 Td (Agreement" ) Tj ET Q q 0 0 0 rg BT 182.96 259.00 Td (refers ) Tj ET Q q 0 0 0 rg BT 203.56 259.00 Td (to ) Tj ET Q q 0 0 0 rg BT 212.17 259.00 Td (the ) Tj ET Q q 0 0 0 rg BT 224.34 259.00 Td (framework ) Tj ET Q q 0 0 0 rg BT 261.82 259.00 Td (agreement ) Tj ET Q q 0 0 0 rg BT 297.52 259.00 Td (dated ) Tj ET Q q 0 0 0 rg BT 317.24 259.00 Td (February ) Tj ET Q q 0 0 0 rg BT 348.50 259.00 Td (28, ) Tj ET Q q 0 0 0 rg BT 360.89 259.00 Td (2014 ) Tj ET Q q 0 0 0 rg BT 379.28 259.00 Td (among ) Tj ET Q q 0 0 0 rg BT 403.27 259.00 Td (T) Tj ET Q q 0 0 0 rg BT 407.88 259.00 Td (ime ) Tj ET Q q 0 0 0 rg BT 422.09 259.00 Td (W) Tj ET Q q 0 0 0 rg BT 429.00 259.00 Td (arner) Tj ET Q q 0 0 0 rg BT 445.11 259.00 Td (, ) Tj ET Q q 0 0 0 rg BT 449.33 259.00 Td (T) Tj ET Q q 0 0 0 rg BT 453.93 259.00 Td (ime ) Tj ET Q q 0 0 0 rg BT 468.15 259.00 Td (W) Tj ET Q q 0 0 0 rg BT 475.06 259.00 Td (arner ) Tj ET Q q 0 0 0 rg BT 493.88 259.00 Td (Media ) Tj ET Q q 0 0 0 rg BT 516.70 259.00 Td (Holdings ) Tj ET Q q 0 0 0 rg BT 548.43 259.00 Td (B.V) Tj ET Q q 0 0 0 rg BT 560.51 259.00 Td (. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 249.40 Td (\("TW) Tj ET Q q 0 0 0 rg BT 67.72 249.40 Td ( ) Tj ET Q q 0 0 0 rg BT 69.56 249.40 Td (Investor"\) ) Tj ET Q q 0 0 0 rg BT 103.54 249.40 Td (and ) Tj ET Q q 0 0 0 rg BT 116.93 249.40 Td (the ) Tj ET Q q 0 0 0 rg BT 128.54 249.40 Td (Company) Tj ET Q q 0 0 0 rg BT 159.13 249.40 Td (, ) Tj ET Q q 0 0 0 rg BT 162.97 249.40 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 192.36 249.40 Td (to ) Tj ET Q q 0 0 0 rg BT 200.42 249.40 Td (which ) Tj ET Q q 0 0 0 rg BT 221.81 249.40 Td (the ) Tj ET Q q 0 0 0 rg BT 233.42 249.40 Td (Company ) Tj ET Q q 0 0 0 rg BT 266.37 249.40 Td (conducted ) Tj ET Q q 0 0 0 rg BT 301.08 249.40 Td (a ) Tj ET Q q 0 0 0 rg BT 306.47 249.40 Td (rights ) Tj ET Q q 0 0 0 rg BT 326.53 249.40 Td (of) Tj ET Q q 0 0 0 rg BT 333.05 249.40 Td (fering ) Tj ET Q q 0 0 0 rg BT 353.99 249.40 Td (\(the ) Tj ET Q q 0 0 0 rg BT 368.26 249.40 Td ("Rights ) Tj ET Q q 0 0 0 rg BT 394.26 249.40 Td (Of) Tj ET Q q 0 0 0 rg BT 402.56 249.40 Td (fering"\) ) Tj ET Q q 0 0 0 rg BT 429.43 249.40 Td (and ) Tj ET Q q 0 0 0 rg BT 442.82 249.40 Td (certain ) Tj ET Q q 0 0 0 rg BT 466.42 249.40 Td (related ) Tj ET Q q 0 0 0 rg BT 490.02 249.40 Td (financing ) Tj ET Q q 0 0 0 rg BT 522.06 249.40 Td (transactions; ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 239.85 Td (the ) Tj ET Q q 0 0 0 rg BT 60.81 239.85 Td (term ) Tj ET Q q 0 0 0 rg BT 77.01 239.85 Td ("2014 ) Tj ET Q q 0 0 0 rg BT 97.71 239.85 Td (W) Tj ET Q q 0 0 0 rg BT 104.62 239.85 Td (arrants" ) Tj ET Q q 0 0 0 rg BT 131.19 239.85 Td (refers ) Tj ET Q q 0 0 0 rg BT 150.93 239.85 Td (collectively ) Tj ET Q q 0 0 0 rg BT 189.79 239.85 Td (to ) Tj ET Q q 0 0 0 rg BT 197.55 239.85 Td (the ) Tj ET Q q 0 0 0 rg BT 208.86 239.85 Td (warrants ) Tj ET Q q 0 0 0 rg BT 237.94 239.85 Td (issued ) Tj ET Q q 0 0 0 rg BT 259.48 239.85 Td (under ) Tj ET Q q 0 0 0 rg BT 279.24 239.85 Td (the ) Tj ET Q q 0 0 0 rg BT 290.55 239.85 Td (Rights ) Tj ET Q q 0 0 0 rg BT 312.98 239.85 Td (Of) Tj ET Q q 0 0 0 rg BT 321.28 239.85 Td (fering ) Tj ET Q q 0 0 0 rg BT 341.92 239.85 Td (\(the ) Tj ET Q q 0 0 0 rg BT 355.90 239.85 Td ("Unit ) Tj ET Q q 0 0 0 rg BT 374.81 239.85 Td (W) Tj ET Q q 0 0 0 rg BT 381.72 239.85 Td (arrants"\) ) Tj ET Q q 0 0 0 rg BT 410.96 239.85 Td (and ) Tj ET Q q 0 0 0 rg BT 424.05 239.85 Td (to ) Tj ET Q q 0 0 0 rg BT 431.81 239.85 Td (warrants ) Tj ET Q q 0 0 0 rg BT 460.89 239.85 Td (issued ) Tj ET Q q 0 0 0 rg BT 482.43 239.85 Td (to ) Tj ET Q q 0 0 0 rg BT 490.08 239.85 Td (T) Tj ET Q q 0 0 0 rg BT 494.69 239.85 Td (ime ) Tj ET Q q 0 0 0 rg BT 508.11 239.85 Td (W) Tj ET Q q 0 0 0 rg BT 515.02 239.85 Td (arner ) Tj ET Q q 0 0 0 rg BT 532.99 239.85 Td (in ) Tj ET Q q 0 0 0 rg BT 540.75 239.85 Td (certain ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 230.20 Td (related ) Tj ET Q q 0 0 0 rg BT 73.07 230.20 Td (financing ) Tj ET Q q 0 0 0 rg BT 105.09 230.20 Td (transactions ) Tj ET Q q 0 0 0 rg BT 145.11 230.20 Td (\(the ) Tj ET Q q 0 0 0 rg BT 159.36 230.20 Td ("Initial ) Tj ET Q q 0 0 0 rg BT 183.41 230.20 Td (W) Tj ET Q q 0 0 0 rg BT 190.32 230.20 Td (arrants"\); ) Tj ET Q q 0 0 0 rg BT 222.05 230.20 Td (the ) Tj ET Q q 0 0 0 rg BT 233.63 230.20 Td (term ) Tj ET Q q 0 0 0 rg BT 250.10 230.20 Td (2015 ) Tj ET Q q 0 0 0 rg BT 271.46 230.20 Td (Refinancing ) Tj ET Q q 0 0 0 rg BT 312.37 230.20 Td (Commitment ) Tj ET Q q 0 0 0 rg BT 356.40 230.20 Td (Letter ) Tj ET Q q 0 0 0 rg BT 380.86 230.20 Td (refers ) Tj ET Q q 0 0 0 rg BT 400.87 230.20 Td (to ) Tj ET Q q 0 0 0 rg BT 408.91 230.20 Td (a ) Tj ET Q q 0 0 0 rg BT 414.27 230.20 Td (commitment ) Tj ET Q q 0 0 0 rg BT 456.51 230.20 Td (letter ) Tj ET Q q 0 0 0 rg BT 474.76 230.20 Td (executed ) Tj ET Q q 0 0 0 rg BT 504.99 230.20 Td (with ) Tj ET Q q 0 0 0 rg BT 520.89 230.20 Td (T) Tj ET Q q 0 0 0 rg BT 525.50 230.20 Td (ime ) Tj ET Q q 0 0 0 rg BT 539.17 230.20 Td (W) Tj ET Q q 0 0 0 rg BT 546.08 230.20 Td (arner ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 220.60 Td (whereby ) Tj ET Q q 0 0 0 rg BT 78.87 220.60 Td (T) Tj ET Q q 0 0 0 rg BT 83.48 220.60 Td (ime ) Tj ET Q q 0 0 0 rg BT 97.31 220.60 Td (W) Tj ET Q q 0 0 0 rg BT 104.22 220.60 Td (arner ) Tj ET Q q 0 0 0 rg BT 122.62 220.60 Td (agreed ) Tj ET Q q 0 0 0 rg BT 145.91 220.60 Td (to ) Tj ET Q q 0 0 0 rg BT 154.11 220.60 Td (provide ) Tj ET Q q 0 0 0 rg BT 180.52 220.60 Td (or ) Tj ET Q q 0 0 0 rg BT 189.16 220.60 Td (assist ) Tj ET Q q 0 0 0 rg BT 208.46 220.60 Td (with ) Tj ET Q q 0 0 0 rg BT 224.66 220.60 Td (arranging ) Tj ET Q q 0 0 0 rg BT 257.29 220.60 Td (a ) Tj ET Q q 0 0 0 rg BT 262.81 220.60 Td (loan ) Tj ET Q q 0 0 0 rg BT 278.56 220.60 Td (facility ) Tj ET Q q 0 0 0 rg BT 303.19 220.60 Td (to ) Tj ET Q q 0 0 0 rg BT 311.38 220.60 Td (refinance ) Tj ET Q q 0 0 0 rg BT 343.11 220.60 Td (the ) Tj ET Q q 0 0 0 rg BT 354.86 220.60 Td (2015 ) Tj ET Q q 0 0 0 rg BT 372.83 220.60 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 412.58 220.60 Td (Notes ) Tj ET Q q 0 0 0 rg BT 433.21 220.60 Td (at ) Tj ET Q q 0 0 0 rg BT 440.96 220.60 Td (or ) Tj ET Q q 0 0 0 rg BT 449.60 220.60 Td (immediately ) Tj ET Q q 0 0 0 rg BT 491.56 220.60 Td (prior ) Tj ET Q q 0 0 0 rg BT 509.08 220.60 Td (to ) Tj ET Q q 0 0 0 rg BT 517.28 220.60 Td (their ) Tj ET Q q 0 0 0 rg BT 533.92 220.60 Td (maturity) Tj ET Q q 0 0 0 rg BT 560.50 220.60 Td (. ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 199.00 Td (P) Tj ET Q q 0 0 0 rg BT 53.79 199.00 Td (AR) Tj ET Q q 0 0 0 rg BT 65.07 199.00 Td (T) Tj ET Q q 0 0 0 rg BT 70.26 199.00 Td ( I) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 177.40 Td (ITEM ) Tj ET Q q 0 0 0 rg BT 72.84 177.40 Td (1. ) Tj ET Q q 0 0 0 rg BT 94.50 177.40 Td (BUSINESS) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 161.80 Td (Central ) Tj ET Q q 0 0 0 rg BT 74.80 161.80 Td (European ) Tj ET Q q 0 0 0 rg BT 107.20 161.80 Td (Media ) Tj ET Q q 0 0 0 rg BT 129.39 161.80 Td (Enterprises ) Tj ET Q q 0 0 0 rg BT 167.13 161.80 Td (Ltd., ) Tj ET Q q 0 0 0 rg BT 183.98 161.80 Td (a ) Tj ET Q q 0 0 0 rg BT 189.29 161.80 Td (Bermuda ) Tj ET Q q 0 0 0 rg BT 220.36 161.80 Td (company ) Tj ET Q q 0 0 0 rg BT 251.43 161.80 Td (limited ) Tj ET Q q 0 0 0 rg BT 275.85 161.80 Td (by ) Tj ET Q q 0 0 0 rg BT 285.60 161.80 Td (shares, ) Tj ET Q q 0 0 0 rg BT 309.34 161.80 Td (is ) Tj ET Q q 0 0 0 rg BT 316.43 161.80 Td (a ) Tj ET Q q 0 0 0 rg BT 321.73 161.80 Td (media ) Tj ET Q q 0 0 0 rg BT 343.02 161.80 Td (and ) Tj ET Q q 0 0 0 rg BT 356.32 161.80 Td (entertainment ) Tj ET Q q 0 0 0 rg BT 402.05 161.80 Td (company ) Tj ET Q q 0 0 0 rg BT 433.13 161.80 Td (operating ) Tj ET Q q 0 0 0 rg BT 465.09 161.80 Td (in ) Tj ET Q q 0 0 0 rg BT 473.06 161.80 Td (Central ) Tj ET Q q 0 0 0 rg BT 498.36 161.80 Td (and ) Tj ET Q q 0 0 0 rg BT 511.66 161.80 Td (Eastern ) Tj ET Q q 0 0 0 rg BT 537.40 161.80 Td (Europe. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 152.20 Td (Our ) Tj ET Q q 0 0 0 rg BT 64.33 152.20 Td (assets ) Tj ET Q q 0 0 0 rg BT 85.38 152.20 Td (are ) Tj ET Q q 0 0 0 rg BT 97.53 152.20 Td (held ) Tj ET Q q 0 0 0 rg BT 113.69 152.20 Td (through ) Tj ET Q q 0 0 0 rg BT 140.96 152.20 Td (a ) Tj ET Q q 0 0 0 rg BT 146.90 152.20 Td (series ) Tj ET Q q 0 0 0 rg BT 167.50 152.20 Td (of ) Tj ET Q q 0 0 0 rg BT 176.55 152.20 Td (Dutch ) Tj ET Q q 0 0 0 rg BT 198.49 152.20 Td (and ) Tj ET Q q 0 0 0 rg BT 212.43 152.20 Td (Curaao ) Tj ET Q q 0 0 0 rg BT 241.47 152.20 Td (holding ) Tj ET Q q 0 0 0 rg BT 268.30 152.20 Td (companies. ) Tj ET Q q 0 0 0 rg BT 306.73 152.20 Td (W) Tj ET Q q 0 0 0 rg BT 313.64 152.20 Td (e ) Tj ET Q q 0 0 0 rg BT 319.57 152.20 Td (manage ) Tj ET Q q 0 0 0 rg BT 346.84 152.20 Td (our ) Tj ET Q q 0 0 0 rg BT 359.89 152.20 Td (business ) Tj ET Q q 0 0 0 rg BT 389.39 152.20 Td (on ) Tj ET Q q 0 0 0 rg BT 399.77 152.20 Td (a ) Tj ET Q q 0 0 0 rg BT 405.71 152.20 Td (geographical ) Tj ET Q q 0 0 0 rg BT 449.41 152.20 Td (basis, ) Tj ET Q q 0 0 0 rg BT 469.80 152.20 Td (with ) Tj ET Q q 0 0 0 rg BT 486.41 152.20 Td (six ) Tj ET Q q 0 0 0 rg BT 498.13 152.20 Td (operating ) Tj ET Q q 0 0 0 rg BT 530.73 152.20 Td (segments, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 142.60 Td (Bulgaria, ) Tj ET Q q 0 0 0 rg BT 80.81 142.60 Td (Croatia, ) Tj ET Q q 0 0 0 rg BT 108.12 142.60 Td (the ) Tj ET Q q 0 0 0 rg BT 119.66 142.60 Td (Czech ) Tj ET Q q 0 0 0 rg BT 141.41 142.60 Td (Republic, ) Tj ET Q q 0 0 0 rg BT 174.06 142.60 Td (Romania, ) Tj ET Q q 0 0 0 rg BT 206.71 142.60 Td (the ) Tj ET Q q 0 0 0 rg BT 218.25 142.60 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 242.23 142.60 Td (Republic ) Tj ET Q q 0 0 0 rg BT 272.88 142.60 Td (and ) Tj ET Q q 0 0 0 rg BT 286.20 142.60 Td (Slovenia, ) Tj ET Q q 0 0 0 rg BT 317.96 142.60 Td (which ) Tj ET Q q 0 0 0 rg BT 339.27 142.60 Td (are ) Tj ET Q q 0 0 0 rg BT 350.80 142.60 Td (also ) Tj ET Q q 0 0 0 rg BT 365.46 142.60 Td (our ) Tj ET Q q 0 0 0 rg BT 377.88 142.60 Td (reportable ) Tj ET Q q 0 0 0 rg BT 412.07 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133.00 Td (operating ) Tj ET Q q 0 0 0 rg BT 288.55 133.00 Td (and ) Tj ET Q q 0 0 0 rg BT 302.10 133.00 Td (license ) Tj ET Q q 0 0 0 rg BT 326.31 133.00 Td (companies ) Tj ET Q q 0 0 0 rg BT 362.52 133.00 Td (in ) Tj ET Q q 0 0 0 rg BT 370.74 133.00 Td (our ) Tj ET Q q 0 0 0 rg BT 383.41 133.00 Td (remaining ) Tj ET Q q 0 0 0 rg BT 417.84 133.00 Td (countries.) 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) Tj ET Q q 0 0 0 rg BT 347.32 107.80 Td (in ) Tj ET Q q 0 0 0 rg BT 354.90 107.80 Td (our ) Tj ET Q q 0 0 0 rg BT 366.91 107.80 Td (country ) Tj ET Q q 0 0 0 rg BT 392.70 107.80 Td (operations ) Tj ET Q q 0 0 0 rg BT 427.37 107.80 Td (primarily ) Tj ET Q q 0 0 0 rg BT 458.49 107.80 Td (through ) Tj ET Q q 0 0 0 rg BT 484.73 107.80 Td (entering ) Tj ET Q q 0 0 0 rg BT 512.29 107.80 Td (into ) Tj ET Q q 0 0 0 rg BT 526.08 107.80 Td (agreements ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 98.20 Td (with ) Tj ET Q q 0 0 0 rg BT 65.62 98.20 Td (advertisers, ) Tj ET Q q 0 0 0 rg BT 104.16 98.20 Td (advertising ) Tj ET Q q 0 0 0 rg BT 141.60 98.20 Td (agencies ) Tj ET Q q 0 0 0 rg BT 171.03 98.20 Td (and ) Tj ET Q q 0 0 0 rg BT 184.47 98.20 Td (sponsors ) Tj ET Q q 0 0 0 rg BT 214.37 98.20 Td (to ) Tj ET Q q 0 0 0 rg BT 222.49 98.20 Td (place ) Tj ET Q q 0 0 0 rg BT 241.25 98.20 Td (advertising ) Tj ET Q q 0 0 0 rg BT 278.69 98.20 Td (on ) Tj ET Q q 0 0 0 rg BT 288.59 98.20 Td (the ) Tj ET Q q 0 0 0 rg BT 300.25 98.20 Td (television ) Tj ET Q q 0 0 0 rg BT 333.25 98.20 Td (channels ) Tj ET Q q 0 0 0 rg BT 363.13 98.20 Td (that ) Tj ET Q q 0 0 0 rg BT 377.02 98.20 Td (we ) Tj ET Q q 0 0 0 rg BT 388.24 98.20 Td (operate. ) Tj ET Q q 0 0 0 rg BT 415.54 98.20 Td (W) Tj ET Q q 0 0 0 rg BT 422.45 98.20 Td (e ) Tj ET Q q 0 0 0 rg BT 427.89 98.20 Td (generate ) Tj ET Q q 0 0 0 rg BT 456.87 98.20 Td (additional ) Tj ET Q q 0 0 0 rg BT 490.76 98.20 Td (revenues ) Tj ET Q q 0 0 0 rg BT 521.08 98.20 Td (by ) Tj ET Q q 0 0 0 rg BT 530.97 98.20 Td (collecting ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 88.60 Td (fees ) Tj ET Q q 0 0 0 rg BT 64.47 88.60 Td (from ) Tj ET Q q 0 0 0 rg BT 82.12 88.60 Td (cable, ) Tj ET Q q 0 0 0 rg BT 103.09 88.60 Td (satellite ) Tj ET Q q 0 0 0 rg BT 130.06 88.60 Td (and ) Tj ET Q q 0 0 0 rg BT 143.71 88.60 Td (internet ) Tj ET Q q 0 0 0 rg BT 170.24 88.60 Td (protocol ) Tj ET Q q 0 0 0 rg BT 198.99 88.60 Td (television ) Tj ET Q q 0 0 0 rg BT 232.19 88.60 Td (\("IPTV"\) ) Tj ET Q q 0 0 0 rg BT 263.92 88.60 Td (operators ) Tj ET Q q 0 0 0 rg BT 295.78 88.60 Td (for ) Tj ET Q q 0 0 0 rg BT 307.21 88.60 Td (carriage ) Tj ET Q q 0 0 0 rg BT 335.05 88.60 Td (of ) Tj ET Q q 0 0 0 rg BT 343.81 88.60 Td (our ) Tj ET Q q 0 0 0 rg BT 356.57 88.60 Td (channels. ) Tj ET Q q 0 0 0 rg BT 388.66 88.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 403.19 88.60 Td (main ) Tj ET Q q 0 0 0 rg BT 421.28 88.60 Td (general ) Tj ET Q q 0 0 0 rg BT 446.92 88.60 Td (entertainment ) Tj ET Q q 0 0 0 rg BT 492.99 88.60 Td (television ) Tj ET Q q 0 0 0 rg BT 526.19 88.60 Td (channels ) Tj ET Q q 0 0 0 rg BT 556.27 88.60 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 79.00 Td (each ) Tj ET Q q 0 0 0 rg BT 65.49 79.00 Td (country ) Tj ET Q q 0 0 0 rg BT 91.27 79.00 Td (are ) Tj ET Q q 0 0 0 rg BT 102.37 79.00 Td (distributed ) Tj ET Q q 0 0 0 rg BT 137.93 79.00 Td (on ) Tj ET Q q 0 0 0 rg BT 147.27 79.00 Td (a ) Tj ET Q q 0 0 0 rg BT 152.16 79.00 Td (free-to-air ) Tj ET Q q 0 0 0 rg BT 185.92 79.00 Td (basis ) Tj ET Q q 0 0 0 rg BT 203.25 79.00 Td (terrestrially ) Tj ET Q q 0 0 0 rg BT 241.46 79.00 Td (in ) Tj ET Q q 0 0 0 rg BT 249.03 79.00 Td (analog, ) Tj ET Q q 0 0 0 rg BT 273.69 79.00 Td (digital ) Tj ET Q q 0 0 0 rg BT 295.47 79.00 Td (or ) Tj ET Q q 0 0 0 rg BT 303.47 79.00 Td (both, ) Tj ET Q q 0 0 0 rg BT 321.03 79.00 Td (depending ) Tj ET Q q 0 0 0 rg BT 355.70 79.00 Td (on ) Tj ET Q q 0 0 0 rg BT 365.04 79.00 Td (the ) Tj ET Q q 0 0 0 rg BT 376.15 79.00 Td (digitalization ) Tj ET Q q 0 0 0 rg BT 419.70 79.00 Td (status ) Tj ET Q q 0 0 0 rg BT 439.26 79.00 Td (in ) Tj ET Q q 0 0 0 rg BT 446.82 79.00 Td (each ) Tj ET Q q 0 0 0 rg BT 462.81 79.00 Td (country) Tj ET Q q 0 0 0 rg BT 486.73 79.00 Td (, ) Tj ET Q q 0 0 0 rg BT 490.07 79.00 Td (and ) Tj ET Q q 0 0 0 rg BT 502.96 79.00 Td (are ) Tj ET Q q 0 0 0 rg BT 514.06 79.00 Td (also ) Tj ET Q q 0 0 0 rg BT 528.29 79.00 Td (distributed ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 69.40 Td (via ) Tj ET Q q 0 0 0 rg BT 61.27 69.40 Td (cable ) Tj ET Q q 0 0 0 rg BT 80.15 69.40 Td (and ) Tj ET Q q 0 0 0 rg BT 93.70 69.40 Td (satellite. ) Tj ET Q q 0 0 0 rg BT 122.58 69.40 Td (Our ) Tj ET Q q 0 0 0 rg BT 137.02 69.40 Td (other ) Tj ET Q q 0 0 0 rg BT 155.46 69.40 Td (channels ) Tj ET Q q 0 0 0 rg BT 185.45 69.40 Td (are ) Tj ET Q q 0 0 0 rg BT 197.21 69.40 Td (generally ) Tj ET Q q 0 0 0 rg BT 228.97 69.40 Td (distributed ) Tj ET Q q 0 0 0 rg BT 265.19 69.40 Td (via ) Tj ET Q q 0 0 0 rg BT 276.96 69.40 Td (cable ) Tj ET Q q 0 0 0 rg BT 295.84 69.40 Td (and ) Tj ET Q q 0 0 0 rg BT 309.39 69.40 Td (satellite.) Tj ET Q endstream endobj 11 0 obj <>] /Rotate 0 /Contents 12 0 R>> endobj 12 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 304.00 35.00 Td (3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 723.60 Td (General ) Tj ET Q q 0 0 0 rg BT 79.05 723.60 Td (market ) Tj ET Q q 0 0 0 rg BT 105.93 723.60 Td (information) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 708.00 Td (Our ) Tj ET Q q 0 0 0 rg BT 64.28 708.00 Td (main ) Tj ET Q q 0 0 0 rg BT 82.61 708.00 Td (operating ) Tj ET Q q 0 0 0 rg BT 115.15 708.00 Td (countries ) Tj ET Q q 0 0 0 rg BT 146.81 708.00 Td (are ) Tj ET Q q 0 0 0 rg BT 158.91 708.00 Td (members ) Tj ET Q q 0 0 0 rg BT 190.57 708.00 Td (of ) Tj ET Q q 0 0 0 rg BT 199.57 708.00 Td (the ) Tj ET Q q 0 0 0 rg BT 211.68 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(have ) Tj ET Q q 0 0 0 rg BT 422.79 679.20 Td (operations ) Tj ET Q q 0 0 0 rg BT 457.58 679.20 Td (in ) Tj ET Q q 0 0 0 rg BT 465.27 679.20 Td (Moldova ) Tj ET Q q 0 0 0 rg BT 495.61 679.20 Td (which ) Tj ET Q q 0 0 0 rg BT 516.63 679.20 Td (are ) Tj ET Q q 0 0 0 rg BT 527.86 679.20 Td (immaterial ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 669.60 Td (in ) Tj ET Q q 0 0 0 rg BT 57.72 669.60 Td (comparison ) Tj ET Q q 0 0 0 rg BT 97.05 669.60 Td (with ) Tj ET Q q 0 0 0 rg BT 113.27 669.60 Td (our ) Tj ET Q q 0 0 0 rg BT 125.93 669.60 Td (other ) Tj ET Q q 0 0 0 rg BT 144.37 669.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 179.70 669.60 Td (and ) Tj ET Q q 0 0 0 rg BT 193.25 669.60 Td (are ) Tj ET Q q 0 0 0 rg BT 205.01 669.60 Td (presented ) Tj ET Q q 0 0 0 rg BT 237.66 669.60 Td (as ) Tj ET Q q 0 0 0 rg BT 246.33 669.60 Td (a ) Tj ET Q q 0 0 0 rg BT 251.88 669.60 Td (component ) Tj ET Q q 0 0 0 rg BT 289.43 669.60 Td (of ) Tj ET Q q 0 0 0 rg BT 298.09 669.60 Td (our ) Tj ET Q q 0 0 0 rg BT 310.75 669.60 Td (Romania ) Tj ET Q q 0 0 0 rg BT 341.64 669.60 Td (segment.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 654.00 Td (The ) Tj ET Q q 0 0 0 rg BT 63.87 654.00 Td (following ) Tj ET Q q 0 0 0 rg BT 96.90 654.00 Td (table ) Tj ET Q q 0 0 0 rg BT 114.38 654.00 Td (shows ) Tj ET Q q 0 0 0 rg BT 136.31 654.00 Td (the ) Tj ET Q q 0 0 0 rg BT 148.01 654.00 Td (per ) Tj ET Q q 0 0 0 rg BT 160.15 654.00 Td (capita ) Tj ET Q q 0 0 0 rg BT 181.18 654.00 Td (nominal ) Tj ET Q q 0 0 0 rg BT 209.32 654.00 Td (gross ) Tj ET Q q 0 0 0 rg BT 228.14 654.00 Td (domestic ) Tj ET Q q 0 0 0 rg BT 258.95 654.00 Td (product ) Tj ET Q q 0 0 0 rg BT 285.32 654.00 Td (\(GDP\) ) Tj ET Q q 0 0 0 rg BT 315.68 654.00 Td (\(i.e., ) Tj ET Q q 0 0 0 rg BT 332.04 654.00 Td (not ) Tj ET Q q 0 0 0 rg BT 344.20 654.00 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 372.78 654.00 Td (for ) Tj ET Q q 0 0 0 rg BT 384.04 654.00 Td (inflation\) ) Tj ET Q q 0 0 0 rg BT 415.74 654.00 Td (for ) Tj ET Q q 0 0 0 rg BT 426.99 654.00 Td (the ) Tj ET Q q 0 0 0 rg BT 438.69 654.00 Td (markets ) Tj ET Q q 0 0 0 rg BT 465.95 654.00 Td (of ) Tj ET Q q 0 0 0 rg BT 474.54 654.00 Td (Central ) Tj ET Q q 0 0 0 rg BT 500.01 654.00 Td (and ) Tj ET Q q 0 0 0 rg BT 513.49 654.00 Td (Eastern ) Tj ET Q q 0 0 0 rg BT 539.41 654.00 Td (Europe ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 644.40 Td (in ) Tj ET Q q 0 0 0 rg BT 58.23 644.40 Td (which ) Tj ET Q q 0 0 0 rg BT 80.29 644.40 Td (we ) Tj ET Q q 0 0 0 rg BT 92.13 644.40 Td (operate ) Tj ET Q q 0 0 0 rg BT 118.18 644.40 Td (and ) Tj ET Q q 0 0 0 rg BT 132.25 644.40 Td (for ) Tj ET Q q 0 0 0 rg BT 144.08 644.40 Td (a ) Tj ET Q q 0 0 0 rg BT 150.15 644.40 Td (combined ) Tj ET Q q 0 0 0 rg BT 184.20 644.40 Td (group ) Tj ET Q q 0 0 0 rg BT 205.38 644.40 Td (of ) Tj ET Q q 0 0 0 rg BT 214.55 644.40 Td (1) Tj ET Q q 0 0 0 rg BT 218.26 644.40 Td (1 ) Tj ET Q q 0 0 0 rg BT 224.77 644.40 Td (countries ) Tj ET Q q 0 0 0 rg BT 256.60 644.40 Td (from ) Tj ET Q q 0 0 0 rg BT 274.66 644.40 Td (within ) Tj ET Q q 0 0 0 rg BT 297.62 644.40 Td (the ) Tj ET Q q 0 0 0 rg BT 309.90 644.40 Td (European ) Tj ET Q q 0 0 0 rg BT 343.07 644.40 Td (Union, ) Tj ET Q q 0 0 0 rg BT 367.58 644.40 Td (predominantly ) Tj ET Q q 0 0 0 rg BT 416.74 644.40 Td (from ) Tj ET Q q 0 0 0 rg BT 434.62 644.40 Td (W) Tj ET Q q 0 0 0 rg BT 441.53 644.40 Td (estern ) Tj ET Q q 0 0 0 rg BT 463.15 644.40 Td (Europe, ) Tj ET Q q 0 0 0 rg BT 490.76 644.40 Td (and ) Tj ET Q q 0 0 0 rg BT 504.82 644.40 Td (the ) Tj ET Q q 0 0 0 rg BT 517.10 644.40 Td (United ) Tj ET Q q 0 0 0 rg BT 541.39 644.40 Td (States. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 634.80 Td (\(collectively) Tj ET Q q 0 0 0 rg BT 88.96 634.80 Td (, ) Tj ET Q q 0 0 0 rg BT 93.02 634.80 Td (the ) Tj ET Q q 0 0 0 rg BT 104.85 634.80 Td (developed ) Tj ET Q q 0 0 0 rg BT 143.33 634.80 Td (markets\). ) Tj ET Q q 0 0 0 rg BT 178.93 634.80 Td (GDP) Tj ET Q q 0 0 0 rg BT 194.64 634.80 Td ( ) Tj ET Q q 0 0 0 rg BT 196.69 634.80 Td (is ) Tj ET Q q 0 0 0 rg BT 204.09 634.80 Td (a ) Tj ET Q q 0 0 0 rg BT 209.70 634.80 Td (measure ) Tj ET Q q 0 0 0 rg BT 238.41 634.80 Td (of ) Tj ET Q q 0 0 0 rg BT 247.13 634.80 Td (economic ) Tj ET Q q 0 0 0 rg BT 280.28 634.80 Td (activity ) Tj ET Q q 0 0 0 rg BT 306.33 634.80 Td (and ) Tj ET Q q 0 0 0 rg BT 319.94 634.80 Td (represents ) Tj ET Q q 0 0 0 rg BT 354.43 634.80 Td (the ) Tj ET Q q 0 0 0 rg BT 366.26 634.80 Td (estimated ) Tj ET Q q 0 0 0 rg BT 398.97 634.80 Td (total ) Tj ET Q q 0 0 0 rg BT 415.25 634.80 Td (value ) Tj ET Q q 0 0 0 rg BT 434.63 634.80 Td (of ) Tj ET Q q 0 0 0 rg BT 443.35 634.80 Td (final ) Tj ET Q q 0 0 0 rg BT 460.07 634.80 Td (goods ) Tj ET Q q 0 0 0 rg BT 481.24 634.80 Td (and ) Tj ET Q q 0 0 0 rg BT 494.85 634.80 Td (services ) Tj ET Q q 0 0 0 rg BT 522.67 634.80 Td (produced ) Tj ET Q q 0 0 0 rg BT 554.50 634.80 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 625.20 Td (a ) Tj ET Q q 0 0 0 rg BT 55.05 625.20 Td (country ) Tj ET Q q 0 0 0 rg BT 81.49 625.20 Td (in ) Tj ET Q q 0 0 0 rg BT 89.71 625.20 Td (a ) Tj ET Q q 0 0 0 rg BT 95.26 625.20 Td (specified ) Tj ET Q q 0 0 0 rg BT 126.14 625.20 Td (period. ) Tj ET Q q 0 0 0 rg BT 150.57 625.20 Td (Comparative ) Tj ET Q q 0 0 0 rg BT 193.89 625.20 Td (period ) Tj ET Q q 0 0 0 rg BT 216.33 625.20 Td (amounts ) Tj ET Q q 0 0 0 rg BT 245.44 625.20 Td (have ) Tj ET Q q 0 0 0 rg BT 262.54 625.20 Td (been ) Tj ET Q q 0 0 0 rg BT 279.64 625.20 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 308.30 625.20 Td (to ) Tj ET Q q 0 0 0 rg BT 316.53 625.20 Td (present ) Tj ET Q q 0 0 0 rg BT 341.63 625.20 Td (GDP) Tj ET Q q 0 0 0 rg BT 357.34 625.20 Td ( ) Tj ET Q q 0 0 0 rg BT 359.34 625.20 Td (at ) Tj ET Q q 0 0 0 rg BT 367.11 625.20 Td (constant ) Tj ET Q q 0 0 0 rg BT 395.77 625.20 Td (exchange ) Tj ET Q q 0 0 0 rg BT 427.97 625.20 Td (rates.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 599.70 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 599.70 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 599.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 599.70 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 599.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.50 599.70 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 599.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 599.70 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 599.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 599.70 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 599.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 599.70 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 599.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 599.70 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 599.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 599.70 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 569.70 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 569.70 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 569.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 569.70 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 569.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.50 569.70 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 569.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 569.70 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 569.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 569.70 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 569.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 569.70 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 569.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 569.70 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 569.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 569.70 39.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 599.7 m 261.5 599.7 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 599.7 m 304.5 599.7 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 308.5 599.7 m 347.5 599.7 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 599.7 m 390.5 599.7 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 599.7 m 432.5 599.7 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 599.7 m 475.5 599.7 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 599.7 m 518.5 599.7 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 599.7 m 561.5 599.7 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 603.93 Td (Nominal GDP per capita US$) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 234.00 603.93 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 276.50 603.93 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 319.50 603.93 Td (2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.50 603.93 Td (2011) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 405.00 603.93 Td (2010) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 447.50 603.93 Td (2009) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.50 603.93 Td (2008) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.50 603.93 Td (2007) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 588.95 Td (CME markets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.00 588.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 232.30 588.95 Td (12,917) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 268.00 588.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 275.30 588.95 Td (12,471) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.00 588.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 318.30 588.95 Td (12,123) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.00 588.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 361.30 588.95 Td (11,848) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.00 588.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.30 588.95 Td (11,376) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.00 588.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.60 588.95 Td (11,053) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.00 588.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 588.95 Td (11,441) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.00 588.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 588.95 Td (10,275) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 58.00 573.95 Td (Growth rate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 250.30 573.95 Td (4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 254.30 573.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.30 573.95 Td (3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 297.30 573.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 336.30 573.95 Td (2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.30 573.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.30 573.95 Td (4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 383.30 573.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.30 573.95 Td (3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.30 573.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.95 573.95 Td (\(3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.65 573.95 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 503.30 573.95 Td (11) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.30 573.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.30 573.95 Td (14) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.30 573.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 558.95 Td (Developed markets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.00 558.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 232.30 558.95 Td (46,758) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 268.00 558.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 275.30 558.95 Td (45,526) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.00 558.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 318.30 558.95 Td (44,583) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.00 558.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 361.30 558.95 Td (43,715) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.00 558.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.30 558.95 Td (42,521) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.00 558.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.60 558.95 Td (41,309) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.00 558.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 558.95 Td (42,726) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.00 558.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 558.95 Td (42,203) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 58.00 543.95 Td (Growth rate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 250.30 543.95 Td (3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 254.30 543.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.30 543.95 Td (2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 297.30 543.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 336.30 543.95 Td (2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.30 543.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.30 543.95 Td (3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 383.30 543.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.30 543.95 Td (3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.30 543.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.95 543.95 Td (\(3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.65 543.95 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 507.30 543.95 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.30 543.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.30 543.95 Td (4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.30 543.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 524.60 Td (Source: ) Tj ET Q q 0 0 0 rg BT 75.94 524.60 Td (International ) Tj ET Q q 0 0 0 rg BT 118.81 524.60 Td (Monetary ) Tj ET Q q 0 0 0 rg BT 151.91 524.60 Td (Fund ) Tj ET Q q 0 0 0 rg BT 170.36 524.60 Td (\("IMF"\), ) Tj ET Q q 0 0 0 rg BT 200.45 524.60 Td (CME ) Tj ET Q q 0 0 0 rg BT 219.78 524.60 Td (estimates) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 509.00 Td (The ) Tj ET Q q 0 0 0 rg BT 63.94 509.00 Td (following ) Tj ET Q q 0 0 0 rg BT 97.05 509.00 Td (table ) Tj ET Q q 0 0 0 rg BT 114.59 509.00 Td (shows ) Tj ET Q q 0 0 0 rg BT 136.60 509.00 Td (the ) Tj ET Q q 0 0 0 rg BT 148.37 509.00 Td (ratio ) Tj ET Q q 0 0 0 rg BT 165.03 509.00 Td (of ) Tj ET Q q 0 0 0 rg BT 173.70 509.00 Td (per ) Tj ET Q q 0 0 0 rg BT 185.91 509.00 Td (capita ) Tj ET Q q 0 0 0 rg BT 207.01 509.00 Td (nominal ) Tj ET Q q 0 0 0 rg BT 235.23 509.00 Td (GDP) Tj ET Q q 0 0 0 rg BT 250.93 509.00 Td ( ) Tj ET Q q 0 0 0 rg BT 252.93 509.00 Td (at ) Tj ET Q q 0 0 0 rg BT 260.71 509.00 Td (purchasing ) Tj ET Q q 0 0 0 rg BT 297.81 509.00 Td (power ) Tj ET Q q 0 0 0 rg BT 319.80 509.00 Td (parity ) Tj ET Q q 0 0 0 rg BT 340.46 509.00 Td (\(PPP\) ) Tj ET Q q 0 0 0 rg BT 368.24 509.00 Td (in ) Tj ET Q q 0 0 0 rg BT 376.46 509.00 Td (our ) Tj ET Q q 0 0 0 rg BT 389.13 509.00 Td (markets ) Tj ET Q q 0 0 0 rg BT 416.45 509.00 Td (to ) Tj ET Q q 0 0 0 rg BT 424.67 509.00 Td (that ) Tj ET Q q 0 0 0 rg BT 438.67 509.00 Td (of ) Tj ET Q q 0 0 0 rg BT 447.33 509.00 Td (developed ) Tj ET Q q 0 0 0 rg BT 482.21 509.00 Td (markets.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 483.50 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 483.50 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 483.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 483.50 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 483.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.50 483.50 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 483.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 483.50 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 483.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 483.50 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 483.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 483.50 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 483.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 483.50 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 483.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 483.50 39.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 483.5 m 261.5 483.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 483.5 m 304.5 483.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 308.5 483.5 m 347.5 483.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 483.5 m 390.5 483.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 483.5 m 432.5 483.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 483.5 m 475.5 483.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 483.5 m 518.5 483.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 483.5 m 561.5 483.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 483.5 m 304.5 483.5 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 487.73 Td (Ratio of nominal GDP at PPP per capita) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 234.00 487.73 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 276.50 487.73 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 319.50 487.73 Td (2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.50 487.73 Td (2011) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 405.00 487.73 Td (2010) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 447.50 487.73 Td (2009) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.50 487.73 Td (2008) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.50 487.73 Td (2007) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 472.75 Td (CME markets as a % of developed markets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 246.30 472.75 Td (49) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 254.30 472.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.30 472.75 Td (48) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 297.30 472.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.30 472.75 Td (48) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.30 472.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 472.75 Td (48) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 383.30 472.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.30 472.75 Td (47) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.30 472.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.30 472.75 Td (48) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.30 472.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 503.30 472.75 Td (48) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.30 472.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.30 472.75 Td (46) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.30 472.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 453.40 Td (Source: ) Tj ET Q q 0 0 0 rg BT 75.94 453.40 Td (IMF) Tj ET Q q 0 0 0 rg BT 89.52 453.40 Td (, ) Tj ET Q q 0 0 0 rg BT 93.52 453.40 Td (CME ) Tj ET Q q 0 0 0 rg BT 112.86 453.40 Td (estimates) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 437.80 Td (The ) Tj ET Q q 0 0 0 rg BT 63.76 437.80 Td (level ) Tj ET Q q 0 0 0 rg BT 81.14 437.80 Td (of ) Tj ET Q q 0 0 0 rg BT 89.63 437.80 Td (nominal ) Tj ET Q q 0 0 0 rg BT 117.68 437.80 Td (GDP) Tj ET Q q 0 0 0 rg BT 133.38 437.80 Td ( ) Tj ET Q q 0 0 0 rg BT 135.21 437.80 Td (per ) Tj ET Q q 0 0 0 rg BT 147.25 437.80 Td (capita ) Tj ET Q q 0 0 0 rg BT 168.18 437.80 Td (in ) Tj ET Q q 0 0 0 rg BT 176.23 437.80 Td (our ) Tj ET Q q 0 0 0 rg BT 188.72 437.80 Td (markets ) Tj ET Q q 0 0 0 rg BT 215.87 437.80 Td (was ) Tj ET Q q 0 0 0 rg BT 230.14 437.80 Td (conver) Tj ET Q q 0 0 0 rg BT 251.76 437.80 Td (ging ) Tj ET Q q 0 0 0 rg BT 267.81 437.80 Td (towards ) Tj ET Q q 0 0 0 rg BT 294.96 437.80 Td (the ) Tj ET Q q 0 0 0 rg BT 306.56 437.80 Td (level ) Tj ET Q q 0 0 0 rg BT 323.94 437.80 Td (of ) Tj ET Q q 0 0 0 rg BT 332.43 437.80 Td (the ) Tj ET Q q 0 0 0 rg BT 344.03 437.80 Td (developed ) Tj ET Q q 0 0 0 rg BT 378.73 437.80 Td (markets ) Tj ET Q q 0 0 0 rg BT 405.88 437.80 Td (at ) Tj ET Q q 0 0 0 rg BT 413.48 437.80 Td (a ) Tj ET Q q 0 0 0 rg BT 418.86 437.80 Td (fairly ) Tj ET Q q 0 0 0 rg BT 438.01 437.80 Td (significant ) Tj ET Q q 0 0 0 rg BT 473.61 437.80 Td (rate ) Tj ET Q q 0 0 0 rg BT 487.43 437.80 Td (up ) Tj ET Q q 0 0 0 rg BT 497.25 437.80 Td (until ) Tj ET Q q 0 0 0 rg BT 513.75 437.80 Td (2009, ) Tj ET Q q 0 0 0 rg BT 533.58 437.80 Td (when ) Tj ET Q q 0 0 0 rg BT 552.73 437.80 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 428.20 Td (global ) Tj ET Q q 0 0 0 rg BT 72.20 428.20 Td (recession ) Tj ET Q q 0 0 0 rg BT 104.67 428.20 Td (impacted ) Tj ET Q q 0 0 0 rg BT 136.70 428.20 Td (our ) Tj ET Q q 0 0 0 rg BT 150.07 428.20 Td (markets ) Tj ET Q q 0 0 0 rg BT 178.10 428.20 Td (to ) Tj ET Q q 0 0 0 rg BT 187.03 428.20 Td (a ) Tj ET Q q 0 0 0 rg BT 193.29 428.20 Td (greater ) Tj ET Q q 0 0 0 rg BT 218.20 428.20 Td (extent ) Tj ET Q q 0 0 0 rg BT 240.45 428.20 Td (than ) Tj ET Q q 0 0 0 rg BT 256.93 428.20 Td (the ) Tj ET Q q 0 0 0 rg BT 269.41 428.20 Td (developed ) Tj ET Q q 0 0 0 rg BT 304.99 428.20 Td (markets ) Tj ET Q q 0 0 0 rg BT 333.02 428.20 Td (and ) Tj ET Q q 0 0 0 rg BT 347.28 428.20 Td (conver) Tj ET Q q 0 0 0 rg BT 368.90 428.20 Td (gence ) Tj ET Q q 0 0 0 rg BT 390.25 428.20 Td (slowed ) Tj ET Q q 0 0 0 rg BT 415.63 428.20 Td (down. ) Tj ET Q q 0 0 0 rg BT 437.91 428.20 Td (The ) Tj ET Q q 0 0 0 rg BT 453.06 428.20 Td (tables ) Tj ET Q q 0 0 0 rg BT 474.42 428.20 Td (above ) Tj ET Q q 0 0 0 rg BT 496.23 428.20 Td (demonstrate ) Tj ET Q q 0 0 0 rg BT 538.03 428.20 Td (that ) Tj ET Q q 0 0 0 rg BT 552.74 428.20 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 418.60 Td (conver) Tj ET Q q 0 0 0 rg BT 71.12 418.60 Td (gence ) Tj ET Q q 0 0 0 rg BT 91.94 418.60 Td (has ) Tj ET Q q 0 0 0 rg BT 104.78 418.60 Td (stagnated ) Tj ET Q q 0 0 0 rg BT 137.16 418.60 Td (somewhat ) Tj ET Q q 0 0 0 rg BT 171.77 418.60 Td (since ) Tj ET Q q 0 0 0 rg BT 190.37 418.60 Td (the ) Tj ET Q q 0 0 0 rg BT 202.32 418.60 Td (global ) Tj ET Q q 0 0 0 rg BT 224.48 418.60 Td (recession. ) Tj ET Q q 0 0 0 rg BT 258.26 418.60 Td (W) Tj ET Q q 0 0 0 rg BT 265.17 418.60 Td (e ) Tj ET Q q 0 0 0 rg BT 270.89 418.60 Td (believe ) Tj ET Q q 0 0 0 rg BT 296.16 418.60 Td (that ) Tj ET Q q 0 0 0 rg BT 310.33 418.60 Td (the ) Tj ET Q q 0 0 0 rg BT 322.27 418.60 Td (conver) Tj ET Q q 0 0 0 rg BT 343.89 418.60 Td (gence ) Tj ET Q q 0 0 0 rg BT 364.71 418.60 Td (of ) Tj ET Q q 0 0 0 rg BT 373.55 418.60 Td (GDP) Tj ET Q q 0 0 0 rg BT 389.25 418.60 Td ( ) Tj ET Q q 0 0 0 rg BT 391.42 418.60 Td (per ) Tj ET Q q 0 0 0 rg BT 403.81 418.60 Td (capita ) Tj ET Q q 0 0 0 rg BT 425.08 418.60 Td (in ) Tj ET Q q 0 0 0 rg BT 433.47 418.60 Td (our ) Tj ET Q q 0 0 0 rg BT 446.30 418.60 Td (markets ) Tj ET Q q 0 0 0 rg BT 473.80 418.60 Td (with ) Tj ET Q q 0 0 0 rg BT 490.19 418.60 Td (the ) Tj ET Q q 0 0 0 rg BT 502.13 418.60 Td (developed ) Tj ET Q q 0 0 0 rg BT 537.18 418.60 Td (markets ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 409.00 Td (will ) Tj ET Q q 0 0 0 rg BT 63.72 409.00 Td (continue ) Tj ET Q q 0 0 0 rg BT 93.03 409.00 Td (when ) Tj ET Q q 0 0 0 rg BT 112.13 409.00 Td (and ) Tj ET Q q 0 0 0 rg BT 125.45 409.00 Td (if ) Tj ET Q q 0 0 0 rg BT 132.11 409.00 Td (economic ) Tj ET Q q 0 0 0 rg BT 164.98 409.00 Td (conditions ) Tj ET Q q 0 0 0 rg BT 200.08 409.00 Td (improve ) Tj ET Q q 0 0 0 rg BT 228.51 409.00 Td (and ) Tj ET Q q 0 0 0 rg BT 241.83 409.00 Td (sustained ) Tj ET Q q 0 0 0 rg BT 273.38 409.00 Td (periods ) Tj ET Q q 0 0 0 rg BT 298.70 409.00 Td (of ) Tj ET Q q 0 0 0 rg BT 307.13 409.00 Td (higher ) Tj ET Q q 0 0 0 rg BT 329.34 409.00 Td (growth ) Tj ET Q q 0 0 0 rg BT 353.78 409.00 Td (return. ) Tj ET Q q 0 0 0 rg BT 376.26 409.00 Td (As ) Tj ET Q q 0 0 0 rg BT 386.92 409.00 Td (our ) Tj ET Q q 0 0 0 rg BT 399.35 409.00 Td (markets ) Tj ET Q q 0 0 0 rg BT 426.45 409.00 Td (grow) Tj ET Q q 0 0 0 rg BT 442.37 409.00 Td (, ) Tj ET Q q 0 0 0 rg BT 446.14 409.00 Td (the ) Tj ET Q q 0 0 0 rg BT 457.68 409.00 Td (level ) Tj ET Q q 0 0 0 rg BT 475.00 409.00 Td (of ) Tj ET Q q 0 0 0 rg BT 483.44 409.00 Td (disposable ) Tj ET Q q 0 0 0 rg BT 518.98 409.00 Td (income ) Tj ET Q q 0 0 0 rg BT 544.30 409.00 Td (of ) Tj ET Q q 0 0 0 rg BT 552.73 409.00 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 399.40 Td (population ) Tj ET Q q 0 0 0 rg BT 85.72 399.40 Td (increases, ) Tj ET Q q 0 0 0 rg BT 119.04 399.40 Td (which ) Tj ET Q q 0 0 0 rg BT 140.59 399.40 Td (provides ) Tj ET Q q 0 0 0 rg BT 170.14 399.40 Td (an ) Tj ET Q q 0 0 0 rg BT 179.69 399.40 Td (incentive ) Tj ET Q q 0 0 0 rg BT 211.01 399.40 Td (for ) Tj ET Q q 0 0 0 rg BT 222.34 399.40 Td (advertisers ) Tj ET Q q 0 0 0 rg BT 258.99 399.40 Td (to ) Tj ET Q q 0 0 0 rg BT 267.21 399.40 Td (advertise ) Tj ET Q q 0 0 0 rg BT 298.09 399.40 Td (their ) Tj ET Q q 0 0 0 rg BT 314.75 399.40 Td (products.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 383.80 Td (The ) Tj ET Q q 0 0 0 rg BT 63.97 383.80 Td (following ) Tj ET Q q 0 0 0 rg BT 97.10 383.80 Td (table ) Tj ET Q q 0 0 0 rg BT 114.68 383.80 Td (shows ) Tj ET Q q 0 0 0 rg BT 136.71 383.80 Td (total ) Tj ET Q q 0 0 0 rg BT 152.96 383.80 Td (advertising ) Tj ET Q q 0 0 0 rg BT 190.53 383.80 Td (spend ) Tj ET Q q 0 0 0 rg BT 211.23 383.80 Td (per ) Tj ET Q q 0 0 0 rg BT 223.47 383.80 Td (capita ) Tj ET Q q 0 0 0 rg BT 244.59 383.80 Td (in ) Tj ET Q q 0 0 0 rg BT 252.85 383.80 Td (the ) Tj ET Q q 0 0 0 rg BT 264.65 383.80 Td (markets ) Tj ET Q q 0 0 0 rg BT 292.00 383.80 Td (of ) Tj ET Q q 0 0 0 rg BT 300.69 383.80 Td (Central ) Tj ET Q q 0 0 0 rg BT 326.27 383.80 Td (and ) Tj ET Q q 0 0 0 rg BT 339.85 383.80 Td (Eastern ) Tj ET Q q 0 0 0 rg BT 365.86 383.80 Td (Europe ) Tj ET Q q 0 0 0 rg BT 390.99 383.80 Td (in ) Tj ET Q q 0 0 0 rg BT 399.24 383.80 Td (which ) Tj ET Q q 0 0 0 rg BT 420.82 383.80 Td (we ) Tj ET Q q 0 0 0 rg BT 432.18 383.80 Td (operate ) Tj ET Q q 0 0 0 rg BT 457.75 383.80 Td (and ) Tj ET Q q 0 0 0 rg BT 471.33 383.80 Td (for ) Tj ET Q q 0 0 0 rg BT 482.68 383.80 Td (the ) Tj ET Q q 0 0 0 rg BT 494.48 383.80 Td (developed ) Tj ET Q q 0 0 0 rg BT 529.39 383.80 Td (markets ) Tj ET Q q 0 0 0 rg BT 556.74 383.80 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 374.20 Td (constant ) Tj ET Q q 0 0 0 rg BT 78.16 374.20 Td (exchange ) Tj ET Q q 0 0 0 rg BT 110.36 374.20 Td (rates:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 348.70 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 348.70 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 348.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 348.70 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 348.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.50 348.70 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 348.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 348.70 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 348.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 348.70 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 348.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 348.70 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 348.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 348.70 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 348.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 348.70 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 318.70 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 318.70 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 318.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 318.70 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 318.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.50 318.70 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 318.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 318.70 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 318.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 318.70 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 318.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 318.70 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 318.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 318.70 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 318.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 318.70 39.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 348.7 m 261.5 348.7 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 348.7 m 304.5 348.7 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 308.5 348.7 m 347.5 348.7 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 348.7 m 390.5 348.7 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 348.7 m 432.5 348.7 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 348.7 m 475.5 348.7 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 348.7 m 518.5 348.7 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 348.7 m 561.5 348.7 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 352.93 Td (Total advertising spend per capita US$) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 234.00 352.93 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 276.50 352.93 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 319.50 352.93 Td (2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.50 352.93 Td (2011) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 405.00 352.93 Td (2010) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 447.50 352.93 Td (2009) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.50 352.93 Td (2008) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.50 352.93 Td (2007) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 337.95 Td (CME markets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.00 337.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 246.30 337.95 Td (36) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 268.00 337.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 286.65 337.95 Td (33) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.00 337.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 329.65 337.95 Td (35) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.00 337.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.65 337.95 Td (38) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.00 337.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 414.65 337.95 Td (38) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.00 337.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 457.65 337.95 Td (40) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.00 337.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.65 337.95 Td (54) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.00 337.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.30 337.95 Td (50) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 58.00 322.95 Td (Growth rate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 250.30 322.95 Td (7) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 254.30 322.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 287.95 322.95 Td (\(4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 294.65 322.95 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.95 322.95 Td (\(8) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.65 322.95 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.95 322.95 Td (\(2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.65 322.95 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.95 322.95 Td (\(5) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.65 322.95 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 454.95 322.95 Td (\(26) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.65 322.95 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.65 322.95 Td (10) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.30 322.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.30 322.95 Td (14) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.30 322.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 307.95 Td (Developed markets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.00 307.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 242.30 307.95 Td (342) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 268.00 307.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 282.65 307.95 Td (334) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.00 307.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.65 307.95 Td (328) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.00 307.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.65 307.95 Td (324) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.00 307.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.60 307.95 Td (317) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.00 307.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.65 307.95 Td (313) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.00 307.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.65 307.95 Td (344) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.00 307.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 542.30 307.95 Td (354) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 58.00 292.95 Td (Growth rate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 250.30 292.95 Td (2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 254.30 292.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 290.65 292.95 Td (2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 297.30 292.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.65 292.95 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.25 292.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.65 292.95 Td (2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 383.25 292.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.65 292.95 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.25 292.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.95 292.95 Td (\(9) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.65 292.95 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.95 292.95 Td (\(3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 508.65 292.95 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.30 292.95 Td (2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.30 292.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 273.60 Td (Source: ) Tj ET Q q 0 0 0 rg BT 75.94 273.60 Td (CME ) Tj ET Q q 0 0 0 rg BT 95.27 273.60 Td (estimates, ) Tj ET Q q 0 0 0 rg BT 129.04 273.60 Td (Group ) Tj ET Q q 0 0 0 rg BT 151.48 273.60 Td (M, ) Tj ET Q q 0 0 0 rg BT 162.60 273.60 Td (IMF) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 258.00 Td (The ) Tj ET Q q 0 0 0 rg BT 64.36 258.00 Td (ratio ) Tj ET Q q 0 0 0 rg BT 81.44 258.00 Td (of ) Tj ET Q q 0 0 0 rg BT 90.53 258.00 Td (total ) Tj ET Q q 0 0 0 rg BT 107.17 258.00 Td (advertising ) Tj ET Q q 0 0 0 rg BT 145.14 258.00 Td (spend ) Tj ET Q q 0 0 0 rg BT 166.22 258.00 Td (per ) Tj ET Q q 0 0 0 rg BT 178.86 258.00 Td (capita ) Tj ET Q q 0 0 0 rg BT 200.38 258.00 Td (to ) Tj ET Q q 0 0 0 rg BT 209.02 258.00 Td (nominal ) Tj ET Q q 0 0 0 rg BT 237.66 258.00 Td (GDP) Tj ET Q q 0 0 0 rg BT 253.37 258.00 Td ( ) Tj ET Q q 0 0 0 rg BT 255.79 258.00 Td (per ) Tj ET Q q 0 0 0 rg BT 268.43 258.00 Td (capita, ) Tj ET Q q 0 0 0 rg BT 291.95 258.00 Td (also ) Tj ET Q q 0 0 0 rg BT 307.26 258.00 Td (known ) Tj ET Q q 0 0 0 rg BT 331.46 258.00 Td (as ) Tj ET Q q 0 0 0 rg BT 340.54 258.00 Td (advertising ) Tj ET Q q 0 0 0 rg BT 378.51 258.00 Td (intensity) Tj ET Q q 0 0 0 rg BT 405.55 258.00 Td (, ) Tj ET Q q 0 0 0 rg BT 409.97 258.00 Td (in ) Tj ET Q q 0 0 0 rg BT 418.61 258.00 Td (our ) Tj ET Q q 0 0 0 rg BT 431.70 258.00 Td (markets ) Tj ET Q q 0 0 0 rg BT 459.45 258.00 Td (was ) Tj ET Q q 0 0 0 rg BT 474.31 258.00 Td (conver) Tj ET Q q 0 0 0 rg BT 495.93 258.00 Td (ging ) Tj ET Q q 0 0 0 rg BT 512.57 258.00 Td (with ) Tj ET Q q 0 0 0 rg BT 529.22 258.00 Td (that ) Tj ET Q q 0 0 0 rg BT 543.64 258.00 Td (of ) Tj ET Q q 0 0 0 rg BT 552.72 258.00 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 248.40 Td (developed ) Tj ET Q q 0 0 0 rg BT 84.17 248.40 Td (markets ) Tj ET Q q 0 0 0 rg BT 111.29 248.40 Td (until ) Tj ET Q q 0 0 0 rg BT 127.75 248.40 Td (2008 ) Tj ET Q q 0 0 0 rg BT 145.55 248.40 Td (and ) Tj ET Q q 0 0 0 rg BT 158.89 248.40 Td (had ) Tj ET Q q 0 0 0 rg BT 172.24 248.40 Td (risen ) Tj ET Q q 0 0 0 rg BT 189.58 248.40 Td (to ) Tj ET Q q 0 0 0 rg BT 197.60 248.40 Td (a ) Tj ET Q q 0 0 0 rg BT 202.95 248.40 Td (weighted ) Tj ET Q q 0 0 0 rg BT 234.07 248.40 Td (average ) Tj ET Q q 0 0 0 rg BT 260.73 248.40 Td (level ) Tj ET Q q 0 0 0 rg BT 278.07 248.40 Td (in ) Tj ET Q q 0 0 0 rg BT 286.09 248.40 Td (our ) Tj ET Q q 0 0 0 rg BT 298.55 248.40 Td (markets ) Tj ET Q q 0 0 0 rg BT 325.67 248.40 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 334.13 248.40 Td (0.47%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.79 248.40 Td ( ) Tj ET Q q 0 0 0 rg BT 356.58 248.40 Td (in ) Tj ET Q q 0 0 0 rg BT 364.60 248.40 Td (2008 ) Tj ET Q q 0 0 0 rg BT 382.40 248.40 Td (compared ) Tj ET Q q 0 0 0 rg BT 415.73 248.40 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.75 248.40 Td (0.81%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.41 248.40 Td ( ) Tj ET Q q 0 0 0 rg BT 446.21 248.40 Td (in ) Tj ET Q q 0 0 0 rg BT 454.22 248.40 Td (the ) Tj ET Q q 0 0 0 rg BT 465.79 248.40 Td (developed ) Tj ET Q q 0 0 0 rg BT 500.46 248.40 Td (markets. ) Tj ET Q q 0 0 0 rg BT 529.58 248.40 Td (Due ) Tj ET Q q 0 0 0 rg BT 544.71 248.40 Td (to ) Tj ET Q q 0 0 0 rg BT 552.72 248.40 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 238.80 Td (protracted ) Tj ET Q q 0 0 0 rg BT 83.84 238.80 Td (period ) Tj ET Q q 0 0 0 rg BT 106.19 238.80 Td (of ) Tj ET Q q 0 0 0 rg BT 114.77 238.80 Td (advertising ) Tj ET Q q 0 0 0 rg BT 152.23 238.80 Td (market ) Tj ET Q q 0 0 0 rg BT 176.36 238.80 Td (decline ) Tj ET Q q 0 0 0 rg BT 201.37 238.80 Td (since ) Tj ET Q q 0 0 0 rg BT 219.73 238.80 Td (2008, ) Tj ET Q q 0 0 0 rg BT 239.64 238.80 Td (the ) Tj ET Q q 0 0 0 rg BT 251.33 238.80 Td (weighted ) Tj ET Q q 0 0 0 rg BT 282.57 238.80 Td (average ) Tj ET Q q 0 0 0 rg BT 309.35 238.80 Td (advertising ) Tj ET Q q 0 0 0 rg BT 346.81 238.80 Td (intensity ) Tj ET Q q 0 0 0 rg BT 376.28 238.80 Td (in ) Tj ET Q q 0 0 0 rg BT 384.42 238.80 Td (CME ) Tj ET Q q 0 0 0 rg BT 403.67 238.80 Td (markets ) Tj ET Q q 0 0 0 rg BT 430.91 238.80 Td (fell ) Tj ET Q q 0 0 0 rg BT 443.49 238.80 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.62 238.80 Td (0.26%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.29 238.80 Td ( ) Tj ET Q q 0 0 0 rg BT 474.20 238.80 Td (in ) Tj ET Q q 0 0 0 rg BT 482.34 238.80 Td (2013 ) Tj ET Q q 0 0 0 rg BT 500.25 238.80 Td (compared ) Tj ET Q q 0 0 0 rg BT 533.71 238.80 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.85 238.80 Td (0.73%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 562.51 238.80 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 229.20 Td (in ) Tj ET Q q 0 0 0 rg BT 58.23 229.20 Td (developed ) Tj ET Q q 0 0 0 rg BT 93.61 229.20 Td (markets. ) Tj ET Q q 0 0 0 rg BT 123.44 229.20 Td (In ) Tj ET Q q 0 0 0 rg BT 132.61 229.20 Td (2014, ) Tj ET Q q 0 0 0 rg BT 153.12 229.20 Td (the ) Tj ET Q q 0 0 0 rg BT 165.39 229.20 Td (weighted ) Tj ET Q q 0 0 0 rg BT 197.22 229.20 Td (average ) Tj ET Q q 0 0 0 rg BT 224.60 229.20 Td (ad ) Tj ET Q q 0 0 0 rg BT 234.65 229.20 Td (intensity ) Tj ET Q q 0 0 0 rg BT 264.71 229.20 Td (in ) Tj ET Q q 0 0 0 rg BT 273.44 229.20 Td (our ) Tj ET Q q 0 0 0 rg BT 286.61 229.20 Td (markets ) Tj ET Q q 0 0 0 rg BT 314.44 229.20 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.61 229.20 Td (0.28%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.28 229.20 Td ( ) Tj ET Q q 0 0 0 rg BT 346.78 229.20 Td (improved ) Tj ET Q q 0 0 0 rg BT 379.95 229.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 413.99 229.20 Td (to ) Tj ET Q q 0 0 0 rg BT 422.72 229.20 Td (our ) Tj ET Q q 0 0 0 rg BT 435.89 229.20 Td (markets ) Tj ET Q q 0 0 0 rg BT 463.72 229.20 Td (in ) Tj ET Q q 0 0 0 rg BT 472.45 229.20 Td (2013, ) Tj ET Q q 0 0 0 rg BT 492.96 229.20 Td (as ) Tj ET Q q 0 0 0 rg BT 502.13 229.20 Td (well ) Tj ET Q q 0 0 0 rg BT 518.41 229.20 Td (as ) Tj ET Q q 0 0 0 rg BT 527.58 229.20 Td (against ) Tj ET Q q 0 0 0 rg BT 552.74 229.20 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 219.60 Td (developed ) Tj ET Q q 0 0 0 rg BT 84.08 219.60 Td (markets, ) Tj ET Q q 0 0 0 rg BT 113.11 219.60 Td (which ) Tj ET Q q 0 0 0 rg BT 134.37 219.60 Td (stagnated ) Tj ET Q q 0 0 0 rg BT 166.28 219.60 Td (at ) Tj ET Q q 0 0 0 rg BT 173.76 219.60 Td (the ) Tj ET Q q 0 0 0 rg BT 185.24 219.60 Td (same ) Tj ET Q q 0 0 0 rg BT 203.38 219.60 Td (rate ) Tj ET Q q 0 0 0 rg BT 217.07 219.60 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 225.44 219.60 Td (0.73%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 246.11 219.60 Td ( ) Tj ET Q q 0 0 0 rg BT 247.81 219.60 Td (in ) Tj ET Q q 0 0 0 rg BT 255.74 219.60 Td (2014. ) Tj ET Q q 0 0 0 rg BT 275.45 219.60 Td (In ) Tj ET Q q 0 0 0 rg BT 283.81 219.60 Td (the ) Tj ET Q q 0 0 0 rg BT 295.29 219.60 Td (long-term, ) Tj ET Q q 0 0 0 rg BT 330.54 219.60 Td (we ) Tj ET Q q 0 0 0 rg BT 341.58 219.60 Td (expect ) Tj ET Q q 0 0 0 rg BT 364.16 219.60 Td (advertising ) Tj ET Q q 0 0 0 rg BT 401.41 219.60 Td (intensity ) Tj ET Q q 0 0 0 rg BT 430.67 219.60 Td (in ) Tj ET Q q 0 0 0 rg BT 438.60 219.60 Td (our ) Tj ET Q q 0 0 0 rg BT 450.97 219.60 Td (markets ) Tj ET Q q 0 0 0 rg BT 478.00 219.60 Td (to ) Tj ET Q q 0 0 0 rg BT 485.92 219.60 Td (conver) Tj ET Q q 0 0 0 rg BT 507.54 219.60 Td (ge ) Tj ET Q q 0 0 0 rg BT 516.80 219.60 Td (towards ) Tj ET Q q 0 0 0 rg BT 543.83 219.60 Td (levels ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 210.00 Td (of ) Tj ET Q q 0 0 0 rg BT 57.91 210.00 Td (the ) Tj ET Q q 0 0 0 rg BT 69.43 210.00 Td (developed ) Tj ET Q q 0 0 0 rg BT 104.05 210.00 Td (markets; ) Tj ET Q q 0 0 0 rg BT 133.34 210.00 Td (however) Tj ET Q q 0 0 0 rg BT 160.57 210.00 Td (, ) Tj ET Q q 0 0 0 rg BT 164.31 210.00 Td (we ) Tj ET Q q 0 0 0 rg BT 175.39 210.00 Td (expect ) Tj ET Q q 0 0 0 rg BT 198.01 210.00 Td (the ) Tj ET Q q 0 0 0 rg BT 209.53 210.00 Td (rate ) Tj ET Q q 0 0 0 rg BT 223.26 210.00 Td (of ) Tj ET Q q 0 0 0 rg BT 231.67 210.00 Td (increase ) Tj ET Q q 0 0 0 rg BT 259.62 210.00 Td (to ) Tj ET Q q 0 0 0 rg BT 267.59 210.00 Td (be ) Tj ET Q q 0 0 0 rg BT 276.89 210.00 Td (greater ) Tj ET Q q 0 0 0 rg BT 300.84 210.00 Td (in ) Tj ET Q q 0 0 0 rg BT 308.80 210.00 Td (the ) Tj ET Q q 0 0 0 rg BT 320.32 210.00 Td (first ) Tj ET Q q 0 0 0 rg BT 334.96 210.00 Td (years ) Tj ET Q q 0 0 0 rg BT 353.58 210.00 Td (of ) Tj ET Q q 0 0 0 rg BT 361.99 210.00 Td (economic ) Tj ET Q q 0 0 0 rg BT 394.84 210.00 Td (recovery ) Tj ET Q q 0 0 0 rg BT 424.56 210.00 Td (as ) Tj ET Q q 0 0 0 rg BT 432.97 210.00 Td (our ) Tj ET Q q 0 0 0 rg BT 445.38 210.00 Td (markets ) Tj ET Q q 0 0 0 rg BT 472.45 210.00 Td (resume ) Tj ET Q q 0 0 0 rg BT 497.30 210.00 Td (growth ) Tj ET Q q 0 0 0 rg BT 521.71 210.00 Td (from ) Tj ET Q q 0 0 0 rg BT 539.01 210.00 Td (a ) Tj ET Q q 0 0 0 rg BT 544.30 210.00 Td (lower ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 200.40 Td (base.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 184.80 Td (The ) Tj ET Q q 0 0 0 rg BT 63.49 184.80 Td (conver) Tj ET Q q 0 0 0 rg BT 85.11 184.80 Td (gence ) Tj ET Q q 0 0 0 rg BT 105.32 184.80 Td (of ) Tj ET Q q 0 0 0 rg BT 113.54 184.80 Td (advertising ) Tj ET Q q 0 0 0 rg BT 150.64 184.80 Td (intensity ) Tj ET Q q 0 0 0 rg BT 179.75 184.80 Td (is ) Tj ET Q q 0 0 0 rg BT 186.63 184.80 Td (driven ) Tj ET Q q 0 0 0 rg BT 208.63 184.80 Td (by ) Tj ET Q q 0 0 0 rg BT 218.18 184.80 Td (several ) Tj ET Q q 0 0 0 rg BT 242.39 184.80 Td (factors, ) Tj ET Q q 0 0 0 rg BT 267.71 184.80 Td (including ) Tj ET Q q 0 0 0 rg BT 299.48 184.80 Td (the ) Tj ET Q q 0 0 0 rg BT 310.80 184.80 Td (introduction ) Tj ET Q q 0 0 0 rg BT 351.46 184.80 Td (of ) Tj ET Q q 0 0 0 rg BT 359.68 184.80 Td (premium ) Tj ET Q q 0 0 0 rg BT 390.12 184.80 Td (products ) Tj ET Q q 0 0 0 rg BT 419.22 184.80 Td (into ) Tj ET Q q 0 0 0 rg BT 433.22 184.80 Td (the ) Tj ET Q q 0 0 0 rg BT 444.55 184.80 Td (market ) Tj ET Q q 0 0 0 rg BT 468.31 184.80 Td (by ) Tj ET Q q 0 0 0 rg BT 477.87 184.80 Td (new ) Tj ET Q q 0 0 0 rg BT 492.75 184.80 Td (or ) Tj ET Q q 0 0 0 rg BT 500.97 184.80 Td (existing ) Tj ET Q q 0 0 0 rg BT 527.85 184.80 Td (advertisers ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 175.20 Td (aiming ) Tj ET Q q 0 0 0 rg BT 75.20 175.20 Td (to ) Tj ET Q q 0 0 0 rg BT 84.91 175.20 Td (capture ) Tj ET Q q 0 0 0 rg BT 111.93 175.20 Td (increased ) Tj ET Q q 0 0 0 rg BT 145.62 175.20 Td (consumer ) Tj ET Q q 0 0 0 rg BT 180.20 175.20 Td (disposable ) Tj ET Q q 0 0 0 rg BT 217.46 175.20 Td (income. ) Tj ET Q q 0 0 0 rg BT 246.49 175.20 Td (In ) Tj ET Q q 0 0 0 rg BT 256.64 175.20 Td (the ) Tj ET Q q 0 0 0 rg BT 269.89 175.20 Td (developed ) Tj ET Q q 0 0 0 rg BT 306.25 175.20 Td (markets, ) Tj ET Q q 0 0 0 rg BT 337.06 175.20 Td (the ) Tj ET Q q 0 0 0 rg BT 350.32 175.20 Td (marketing ) Tj ET Q q 0 0 0 rg BT 386.23 175.20 Td (of ) Tj ET Q q 0 0 0 rg BT 396.38 175.20 Td (premium ) Tj ET Q q 0 0 0 rg BT 428.75 175.20 Td (products, ) Tj ET Q q 0 0 0 rg BT 461.78 175.20 Td (including ) Tj ET Q q 0 0 0 rg BT 495.48 175.20 Td (finance, ) Tj ET Q q 0 0 0 rg BT 524.51 175.20 Td (automotive, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 165.60 Td (entertainment ) Tj ET Q q 0 0 0 rg BT 95.29 165.60 Td (and ) Tj ET Q q 0 0 0 rg BT 108.65 165.60 Td (travel ) Tj ET Q q 0 0 0 rg BT 128.67 165.60 Td (products, ) Tj ET Q q 0 0 0 rg BT 160.02 165.60 Td (makes ) Tj ET Q q 0 0 0 rg BT 182.27 165.60 Td (up ) Tj ET Q q 0 0 0 rg BT 192.08 165.60 Td (the ) Tj ET Q q 0 0 0 rg BT 203.66 165.60 Td (majority ) Tj ET Q q 0 0 0 rg BT 232.57 165.60 Td (of ) Tj ET Q q 0 0 0 rg BT 241.04 165.60 Td (current ) Tj ET Q q 0 0 0 rg BT 265.50 165.60 Td (television ) Tj ET Q q 0 0 0 rg BT 298.42 165.60 Td (advertising ) Tj ET Q q 0 0 0 rg BT 335.77 165.60 Td (spend. ) Tj ET Q q 0 0 0 rg BT 358.24 165.60 Td (In ) Tj ET Q q 0 0 0 rg BT 366.71 165.60 Td (the ) Tj ET Q q 0 0 0 rg BT 378.29 165.60 Td (markets ) Tj ET Q q 0 0 0 rg BT 405.43 165.60 Td (in ) Tj ET Q q 0 0 0 rg BT 413.46 165.60 Td (which ) Tj ET Q q 0 0 0 rg BT 434.81 165.60 Td (we ) Tj ET Q q 0 0 0 rg BT 445.95 165.60 Td (operate, ) Tj ET Q q 0 0 0 rg BT 473.30 165.60 Td (basic ) Tj ET Q q 0 0 0 rg BT 491.54 165.60 Td (products ) Tj ET Q q 0 0 0 rg BT 520.90 165.60 Td (such ) Tj ET Q q 0 0 0 rg BT 537.37 165.60 Td (as ) Tj ET Q q 0 0 0 rg BT 545.84 165.60 Td (food, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 156.00 Td (beverages ) Tj ET Q q 0 0 0 rg BT 84.35 156.00 Td (and ) Tj ET Q q 0 0 0 rg BT 98.77 156.00 Td (household ) Tj ET Q q 0 0 0 rg BT 134.53 156.00 Td (cleaning ) Tj ET Q q 0 0 0 rg BT 164.49 156.00 Td (supplies ) Tj ET Q q 0 0 0 rg BT 193.58 156.00 Td (comprise ) Tj ET Q q 0 0 0 rg BT 225.78 156.00 Td (the ) Tj ET Q q 0 0 0 rg BT 238.42 156.00 Td (main ) Tj ET Q q 0 0 0 rg BT 257.29 156.00 Td (source ) Tj ET Q q 0 0 0 rg BT 281.03 156.00 Td (of ) Tj ET Q q 0 0 0 rg BT 290.57 156.00 Td (advertising ) Tj ET Q q 0 0 0 rg BT 328.98 156.00 Td (revenues. ) Tj ET Q q 0 0 0 rg BT 362.07 156.00 Td (The ) Tj ET Q q 0 0 0 rg BT 377.38 156.00 Td (following ) Tj ET Q q 0 0 0 rg BT 411.36 156.00 Td (table ) Tj ET Q q 0 0 0 rg BT 429.77 156.00 Td (shows ) Tj ET Q q 0 0 0 rg BT 452.65 156.00 Td (a ) Tj ET Q q 0 0 0 rg BT 459.07 156.00 Td (comparison ) Tj ET Q q 0 0 0 rg BT 499.26 156.00 Td (of ) Tj ET Q q 0 0 0 rg BT 508.79 156.00 Td (the ) Tj ET Q q 0 0 0 rg BT 521.44 156.00 Td (allocation ) Tj ET Q q 0 0 0 rg BT 555.85 156.00 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 146.40 Td (advertising ) Tj ET Q q 0 0 0 rg BT 87.05 146.40 Td (budgets ) Tj ET Q q 0 0 0 rg BT 113.93 146.40 Td (between ) Tj ET Q q 0 0 0 rg BT 142.59 146.40 Td (basic ) Tj ET Q q 0 0 0 rg BT 161.02 146.40 Td (and ) Tj ET Q q 0 0 0 rg BT 174.57 146.40 Td (premium ) Tj ET Q q 0 0 0 rg BT 205.46 146.40 Td (products ) Tj ET Q q 0 0 0 rg BT 235.01 146.40 Td (in ) Tj ET Q q 0 0 0 rg BT 243.23 146.40 Td (our ) Tj ET Q q 0 0 0 rg BT 255.89 146.40 Td (markets ) Tj ET Q q 0 0 0 rg BT 283.22 146.40 Td (versus ) Tj ET Q q 0 0 0 rg BT 305.66 146.40 Td (those ) Tj ET Q q 0 0 0 rg BT 324.55 146.40 Td (in ) Tj ET Q q 0 0 0 rg BT 332.77 146.40 Td (more ) Tj ET Q q 0 0 0 rg BT 351.21 146.40 Td (developed ) Tj ET Q q 0 0 0 rg BT 386.08 146.40 Td (countries ) Tj ET Q q 0 0 0 rg BT 417.41 146.40 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.63 146.40 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 441.63 146.40 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 120.90 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 120.90 89.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 120.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 120.90 89.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 90.90 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 90.90 89.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 90.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 90.90 89.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 380 120.89999999999998 m 469 120.89999999999998 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 473 120.89999999999998 m 562 120.89999999999998 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 125.13 Td (Mix of advertised products) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.65 125.13 Td (CME markets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.20 125.13 Td (Developed markets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 110.15 Td (Premium) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.65 110.15 Td (33%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 509.65 110.15 Td (63%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 95.15 Td (Basic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.65 95.15 Td (63%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 509.65 95.15 Td (33%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 80.15 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.65 80.15 Td (4%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.65 80.15 Td (4%) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 60.80 Td (Source: ) Tj ET Q q 0 0 0 rg BT 75.94 60.80 Td (CME ) Tj ET Q q 0 0 0 rg BT 95.27 60.80 Td (estimates, ) Tj ET Q q 0 0 0 rg BT 129.04 60.80 Td (Group ) Tj ET Q q 0 0 0 rg BT 151.48 60.80 Td (M) Tj ET Q endstream endobj 13 0 obj <>] /Rotate 0 /Contents 14 0 R>> endobj 14 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 304.00 35.00 Td (4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 723.50 Td (Similar ) Tj ET Q q 0 0 0 rg BT 74.84 723.50 Td (to ) Tj ET Q q 0 0 0 rg BT 82.85 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 94.42 723.50 Td (trends ) Tj ET Q q 0 0 0 rg BT 115.75 723.50 Td (described ) Tj ET Q q 0 0 0 rg BT 148.19 723.50 Td (above, ) Tj ET Q q 0 0 0 rg BT 171.08 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 182.65 723.50 Td (proportion ) Tj ET Q q 0 0 0 rg BT 218.21 723.50 Td (of ) Tj ET Q q 0 0 0 rg BT 226.66 723.50 Td (premium ) Tj ET Q q 0 0 0 rg BT 257.33 723.50 Td (goods ) Tj ET Q q 0 0 0 rg BT 278.23 723.50 Td (advertised ) Tj ET Q q 0 0 0 rg BT 312.89 723.50 Td (in ) Tj ET Q q 0 0 0 rg BT 320.91 723.50 Td (our ) Tj ET Q q 0 0 0 rg BT 333.36 723.50 Td (markets ) Tj ET Q q 0 0 0 rg BT 360.47 723.50 Td (gradually ) Tj ET Q q 0 0 0 rg BT 392.47 723.50 Td (increased ) Tj ET Q q 0 0 0 rg BT 424.46 723.50 Td (over ) Tj ET Q q 0 0 0 rg BT 440.46 723.50 Td (time ) Tj ET Q q 0 0 0 rg BT 456.47 723.50 Td (up ) Tj ET Q q 0 0 0 rg BT 466.26 723.50 Td (to ) Tj ET Q q 0 0 0 rg BT 474.27 723.50 Td (2009. ) Tj ET Q q 0 0 0 rg BT 494.06 723.50 Td (During ) Tj ET Q q 0 0 0 rg BT 518.51 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 530.07 723.50 Td (prolonged ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 713.90 Td (period ) Tj ET Q q 0 0 0 rg BT 72.12 713.90 Td (of ) Tj ET Q q 0 0 0 rg BT 80.97 713.90 Td (television ) Tj ET Q q 0 0 0 rg BT 114.26 713.90 Td (advertising ) Tj ET Q q 0 0 0 rg BT 152.00 713.90 Td (spend ) Tj ET Q q 0 0 0 rg BT 172.85 713.90 Td (decline ) Tj ET Q q 0 0 0 rg BT 198.13 713.90 Td (in ) Tj ET Q q 0 0 0 rg BT 206.54 713.90 Td (our ) Tj ET Q q 0 0 0 rg BT 219.39 713.90 Td (markets ) Tj ET Q q 0 0 0 rg BT 246.90 713.90 Td (from ) Tj ET Q q 0 0 0 rg BT 264.63 713.90 Td (2009 ) Tj ET Q q 0 0 0 rg BT 282.82 713.90 Td (through ) Tj ET Q q 0 0 0 rg BT 309.89 713.90 Td (2013, ) Tj ET Q q 0 0 0 rg BT 330.08 713.90 Td (we ) Tj ET Q q 0 0 0 rg BT 341.59 713.90 Td (experienced ) Tj ET Q q 0 0 0 rg BT 382.42 713.90 Td (a ) Tj ET Q q 0 0 0 rg BT 388.15 713.90 Td (decline ) Tj ET Q q 0 0 0 rg BT 413.44 713.90 Td (in ) Tj ET Q q 0 0 0 rg BT 421.84 713.90 Td (the ) Tj ET Q q 0 0 0 rg BT 433.80 713.90 Td (proportion ) Tj ET Q q 0 0 0 rg BT 469.76 713.90 Td (of ) Tj ET Q q 0 0 0 rg BT 478.61 713.90 Td (advertising ) Tj ET Q q 0 0 0 rg BT 516.34 713.90 Td (revenues ) Tj ET Q q 0 0 0 rg BT 546.96 713.90 Td (from ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 704.30 Td (premium ) Tj ET Q q 0 0 0 rg BT 80.29 704.30 Td (products. ) Tj ET Q q 0 0 0 rg BT 111.60 704.30 Td (While ) Tj ET Q q 0 0 0 rg BT 133.06 704.30 Td (nominal ) Tj ET Q q 0 0 0 rg BT 161.18 704.30 Td (GDP) Tj ET Q q 0 0 0 rg BT 176.89 704.30 Td ( ) Tj ET Q q 0 0 0 rg BT 178.79 704.30 Td (and ) Tj ET Q q 0 0 0 rg BT 192.25 704.30 Td (total ) Tj ET Q q 0 0 0 rg BT 208.37 704.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 245.82 704.30 Td (spend ) Tj ET Q q 0 0 0 rg BT 266.39 704.30 Td (per ) Tj ET Q q 0 0 0 rg BT 278.51 704.30 Td (capita ) Tj ET Q q 0 0 0 rg BT 299.51 704.30 Td (improved ) Tj ET Q q 0 0 0 rg BT 332.07 704.30 Td (in ) Tj ET Q q 0 0 0 rg BT 340.20 704.30 Td (2014 ) Tj ET Q q 0 0 0 rg BT 358.10 704.30 Td (as ) Tj ET Q q 0 0 0 rg BT 366.67 704.30 Td (compared ) Tj ET Q q 0 0 0 rg BT 400.12 704.30 Td (to ) Tj ET Q q 0 0 0 rg BT 408.24 704.30 Td (2013, ) Tj ET Q q 0 0 0 rg BT 428.15 704.30 Td (the ) Tj ET Q q 0 0 0 rg BT 439.83 704.30 Td (percentage ) Tj ET Q q 0 0 0 rg BT 476.37 704.30 Td (of ) Tj ET Q q 0 0 0 rg BT 484.94 704.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 522.39 704.30 Td (for ) Tj ET Q q 0 0 0 rg BT 533.62 704.30 Td (premium ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 694.70 Td (products ) Tj ET Q q 0 0 0 rg BT 79.42 694.70 Td (declined ) Tj ET Q q 0 0 0 rg BT 108.88 694.70 Td (slightly ) Tj ET Q q 0 0 0 rg BT 135.26 694.70 Td (which ) Tj ET Q q 0 0 0 rg BT 157.18 694.70 Td (we ) Tj ET Q q 0 0 0 rg BT 168.87 694.70 Td (believe ) Tj ET Q q 0 0 0 rg BT 194.34 694.70 Td (is ) Tj ET Q q 0 0 0 rg BT 202.04 694.70 Td (caused ) Tj ET Q q 0 0 0 rg BT 226.18 694.70 Td (by ) Tj ET Q q 0 0 0 rg BT 236.54 694.70 Td (lagging ) Tj ET Q q 0 0 0 rg BT 262.91 694.70 Td (consumer ) Tj ET Q q 0 0 0 rg BT 296.38 694.70 Td (demand ) Tj ET Q q 0 0 0 rg BT 324.07 694.70 Td (for ) Tj ET Q q 0 0 0 rg BT 335.77 694.70 Td (such ) Tj ET Q q 0 0 0 rg BT 352.80 694.70 Td (products ) Tj ET Q q 0 0 0 rg BT 382.72 694.70 Td (as ) Tj ET Q q 0 0 0 rg BT 391.75 694.70 Td (our ) Tj ET Q q 0 0 0 rg BT 404.78 694.70 Td (economies ) Tj ET Q q 0 0 0 rg BT 441.36 694.70 Td (slowly ) Tj ET Q q 0 0 0 rg BT 465.07 694.70 Td (improve. ) Tj ET Q q 0 0 0 rg BT 496.09 694.70 Td (In ) Tj ET Q q 0 0 0 rg BT 505.13 694.70 Td (the ) Tj ET Q q 0 0 0 rg BT 517.27 694.70 Td (long-term, ) Tj ET Q q 0 0 0 rg BT 553.18 694.70 Td (we ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 685.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 72.38 685.10 Td (the ) Tj ET Q q 0 0 0 rg BT 84.15 685.10 Td (historic ) Tj ET Q q 0 0 0 rg BT 110.14 685.10 Td (trend ) Tj ET Q q 0 0 0 rg BT 128.58 685.10 Td (of ) Tj ET Q q 0 0 0 rg BT 137.25 685.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 169.45 685.10 Td (advertising ) Tj ET Q q 0 0 0 rg BT 207.00 685.10 Td (of ) Tj ET Q q 0 0 0 rg BT 215.66 685.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 246.54 685.10 Td (products ) Tj ET Q q 0 0 0 rg BT 276.09 685.10 Td (to ) Tj ET Q q 0 0 0 rg BT 284.32 685.10 Td (resume.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 669.50 Td (The ) Tj ET Q q 0 0 0 rg BT 63.60 669.50 Td (following ) Tj ET Q q 0 0 0 rg BT 96.38 669.50 Td (table ) Tj ET Q q 0 0 0 rg BT 113.59 669.50 Td (shows ) Tj ET Q q 0 0 0 rg BT 135.26 669.50 Td (television ) Tj ET Q q 0 0 0 rg BT 168.03 669.50 Td (advertising ) Tj ET Q q 0 0 0 rg BT 205.24 669.50 Td (spend ) Tj ET Q q 0 0 0 rg BT 225.57 669.50 Td (per ) Tj ET Q q 0 0 0 rg BT 237.45 669.50 Td (capita ) Tj ET Q q 0 0 0 rg BT 258.21 669.50 Td (in ) Tj ET Q q 0 0 0 rg BT 266.10 669.50 Td (the ) Tj ET Q q 0 0 0 rg BT 277.54 669.50 Td (markets ) Tj ET Q q 0 0 0 rg BT 304.53 669.50 Td (of ) Tj ET Q q 0 0 0 rg BT 312.86 669.50 Td (Central ) Tj ET Q q 0 0 0 rg BT 338.07 669.50 Td (and ) Tj ET Q q 0 0 0 rg BT 351.28 669.50 Td (Eastern ) Tj ET Q q 0 0 0 rg BT 376.94 669.50 Td (Europe ) Tj ET Q q 0 0 0 rg BT 401.70 669.50 Td (in ) Tj ET Q q 0 0 0 rg BT 409.59 669.50 Td (which ) Tj ET Q q 0 0 0 rg BT 430.81 669.50 Td (we ) Tj ET Q q 0 0 0 rg BT 441.80 669.50 Td (operate ) Tj ET Q q 0 0 0 rg BT 467.00 669.50 Td (and ) Tj ET Q q 0 0 0 rg BT 480.22 669.50 Td (for ) Tj ET Q q 0 0 0 rg BT 491.21 669.50 Td (the ) Tj ET Q q 0 0 0 rg BT 502.65 669.50 Td (developed ) Tj ET Q q 0 0 0 rg BT 537.19 669.50 Td (markets ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 659.90 Td (at ) Tj ET Q q 0 0 0 rg BT 57.27 659.90 Td (constant ) Tj ET Q q 0 0 0 rg BT 85.93 659.90 Td (exchange ) Tj ET Q q 0 0 0 rg BT 118.14 659.90 Td (rates:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 633.40 148.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 197.50 633.40 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 239.50 633.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.50 633.40 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 633.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.50 633.40 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.50 633.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 633.40 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 633.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 633.40 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 633.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 633.40 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 633.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 633.40 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 633.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.50 633.40 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 603.40 148.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 197.50 603.40 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 239.50 603.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.50 603.40 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 603.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.50 603.40 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.50 603.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 603.40 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 603.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 603.40 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 603.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 603.40 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 603.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 603.40 42.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 603.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.50 603.40 42.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 197.5 633.4 m 239.5 633.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 243.5 633.4 m 285.5 633.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 633.4 m 331.5 633.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 633.4 m 377.5 633.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 633.4 m 423.5 633.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 633.4 m 469.5 633.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 633.4 m 515.5 633.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 633.4 m 561.5 633.4 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 637.63 Td (TV advertising spend per capita US$) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 637.63 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 256.00 637.63 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 302.00 637.63 Td (2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.00 637.63 Td (2011) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.00 637.63 Td (2010) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.00 637.63 Td (2009) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.00 637.63 Td (2008) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.00 637.63 Td (2007) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 622.65 Td (CME markets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 200.00 622.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 224.30 622.65 Td (18) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 246.00 622.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.65 622.65 Td (18) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.00 622.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.65 622.65 Td (19) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.00 622.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.30 622.65 Td (20) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 384.00 622.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.65 622.65 Td (20) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.00 622.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.65 622.65 Td (21) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.00 622.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.65 622.65 Td (27) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 522.00 622.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 543.65 622.65 Td (24) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 58.00 607.65 Td (Growth rate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 228.30 607.65 Td (4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 232.30 607.65 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 268.95 607.65 Td (\(6) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 275.65 607.65 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.95 607.65 Td (\(5) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.65 607.65 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.30 607.65 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.30 607.65 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.95 607.65 Td (\(4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.65 607.65 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 448.95 607.65 Td (\(24) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 459.65 607.65 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.65 607.65 Td (13) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 508.30 607.65 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 543.65 607.65 Td (18) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.30 607.65 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 592.65 Td (Developed markets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 200.00 592.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 220.30 592.65 Td (147) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 246.00 592.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 263.65 592.65 Td (143) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.00 592.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 309.65 592.65 Td (143) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.00 592.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.30 592.65 Td (143) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 384.00 592.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.65 592.65 Td (140) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.00 592.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.65 592.65 Td (133) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.00 592.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 493.65 592.65 Td (145) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 522.00 592.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.65 592.65 Td (147) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 58.00 577.65 Td (Growth rate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 228.30 577.65 Td (3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 232.30 577.65 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.65 577.65 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.30 577.65 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 317.65 577.65 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 324.25 577.65 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.30 577.65 Td (2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.30 577.65 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.65 577.65 Td (5) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.25 577.65 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.95 577.65 Td (\(8) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 459.65 577.65 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 498.95 577.65 Td (\(1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.65 577.65 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.95 577.65 Td (\(1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.65 577.65 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 558.30 Td (Source: ) Tj ET Q q 0 0 0 rg BT 75.94 558.30 Td (CME ) Tj ET Q q 0 0 0 rg BT 95.27 558.30 Td (estimates, ) Tj ET Q q 0 0 0 rg BT 129.04 558.30 Td (Group ) Tj ET Q q 0 0 0 rg BT 151.48 558.30 Td (M, ) Tj ET Q q 0 0 0 rg BT 162.60 558.30 Td (IMF) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 542.70 Td (T) Tj ET Q q 0 0 0 rg BT 53.83 542.70 Td (elevision ) Tj ET Q q 0 0 0 rg BT 84.67 542.70 Td (advertising ) Tj ET Q q 0 0 0 rg BT 122.18 542.70 Td (spend ) Tj ET Q q 0 0 0 rg BT 142.81 542.70 Td (per ) Tj ET Q q 0 0 0 rg BT 154.99 542.70 Td (capita ) Tj ET Q q 0 0 0 rg BT 176.05 542.70 Td (in ) Tj ET Q q 0 0 0 rg BT 184.23 542.70 Td (our ) Tj ET Q q 0 0 0 rg BT 196.86 542.70 Td (markets ) Tj ET Q q 0 0 0 rg BT 224.15 542.70 Td (grew ) Tj ET Q q 0 0 0 rg BT 242.10 542.70 Td (at ) Tj ET Q q 0 0 0 rg BT 249.84 542.70 Td (a ) Tj ET Q q 0 0 0 rg BT 255.35 542.70 Td (significantly ) Tj ET Q q 0 0 0 rg BT 297.31 542.70 Td (faster ) Tj ET Q q 0 0 0 rg BT 317.04 542.70 Td (rate ) Tj ET Q q 0 0 0 rg BT 330.99 542.70 Td (than ) Tj ET Q q 0 0 0 rg BT 346.72 542.70 Td (in ) Tj ET Q q 0 0 0 rg BT 354.91 542.70 Td (developed ) Tj ET Q q 0 0 0 rg BT 389.75 542.70 Td (markets ) Tj ET Q q 0 0 0 rg BT 417.04 542.70 Td (prior ) Tj ET Q q 0 0 0 rg BT 434.55 542.70 Td (to ) Tj ET Q q 0 0 0 rg BT 442.73 542.70 Td (2009, ) Tj ET Q q 0 0 0 rg BT 462.70 542.70 Td (but ) Tj ET Q q 0 0 0 rg BT 474.88 542.70 Td (was ) Tj ET Q q 0 0 0 rg BT 489.29 542.70 Td (more ) Tj ET Q q 0 0 0 rg BT 507.69 542.70 Td (heavily ) Tj ET Q q 0 0 0 rg BT 533.20 542.70 Td (impacted ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 533.10 Td (than ) Tj ET Q q 0 0 0 rg BT 64.62 533.10 Td (in ) Tj ET Q q 0 0 0 rg BT 72.19 533.10 Td (developed ) Tj ET Q q 0 0 0 rg BT 106.41 533.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 133.07 533.10 Td (during ) Tj ET Q q 0 0 0 rg BT 155.31 533.10 Td (the ) Tj ET Q q 0 0 0 rg BT 166.42 533.10 Td (recent ) Tj ET Q q 0 0 0 rg BT 187.31 533.10 Td (prolonged ) Tj ET Q q 0 0 0 rg BT 221.09 533.10 Td (period ) Tj ET Q q 0 0 0 rg BT 242.87 533.10 Td (of ) Tj ET Q q 0 0 0 rg BT 250.88 533.10 Td (advertising ) Tj ET Q q 0 0 0 rg BT 287.77 533.10 Td (market ) Tj ET Q q 0 0 0 rg BT 311.33 533.10 Td (decline ) Tj ET Q q 0 0 0 rg BT 335.77 533.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 352.67 533.10 Td (to ) Tj ET Q q 0 0 0 rg BT 360.23 533.10 Td (this ) Tj ET Q q 0 0 0 rg BT 373.14 533.10 Td (year) Tj ET Q q 0 0 0 rg BT 386.46 533.10 Td (. ) Tj ET Q q 0 0 0 rg BT 389.71 533.10 Td (T) Tj ET Q q 0 0 0 rg BT 394.04 533.10 Td (elevision ) Tj ET Q q 0 0 0 rg BT 424.26 533.10 Td (advertising ) Tj ET Q q 0 0 0 rg BT 461.16 533.10 Td (spend ) Tj ET Q q 0 0 0 rg BT 481.16 533.10 Td (has ) Tj ET Q q 0 0 0 rg BT 493.17 533.10 Td (grown ) Tj ET Q q 0 0 0 rg BT 514.96 533.10 Td (as ) Tj ET Q q 0 0 0 rg BT 522.97 533.10 Td (a ) Tj ET Q q 0 0 0 rg BT 527.86 533.10 Td (percentage ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 523.50 Td (of ) Tj ET Q q 0 0 0 rg BT 58.37 523.50 Td (total ) Tj ET Q q 0 0 0 rg BT 74.80 523.50 Td (advertising ) Tj ET Q q 0 0 0 rg BT 112.56 523.50 Td (spend ) Tj ET Q q 0 0 0 rg BT 133.43 523.50 Td (in ) Tj ET Q q 0 0 0 rg BT 141.86 523.50 Td (our ) Tj ET Q q 0 0 0 rg BT 154.73 523.50 Td (markets, ) Tj ET Q q 0 0 0 rg BT 184.27 523.50 Td (as ) Tj ET Q q 0 0 0 rg BT 193.14 523.50 Td (shown ) Tj ET Q q 0 0 0 rg BT 216.24 523.50 Td (below) Tj ET Q q 0 0 0 rg BT 235.27 523.50 Td (. ) Tj ET Q q 0 0 0 rg BT 239.48 523.50 Td (Furthermore, ) Tj ET Q q 0 0 0 rg BT 283.68 523.50 Td (since ) Tj ET Q q 0 0 0 rg BT 302.32 523.50 Td (television ) Tj ET Q q 0 0 0 rg BT 335.64 523.50 Td (was ) Tj ET Q q 0 0 0 rg BT 350.29 523.50 Td (commercialized ) Tj ET Q q 0 0 0 rg BT 403.58 523.50 Td (in ) Tj ET Q q 0 0 0 rg BT 412.01 523.50 Td (our ) Tj ET Q q 0 0 0 rg BT 424.88 523.50 Td (markets ) Tj ET Q q 0 0 0 rg BT 452.42 523.50 Td (at ) Tj ET Q q 0 0 0 rg BT 460.40 523.50 Td (the ) Tj ET Q q 0 0 0 rg BT 472.38 523.50 Td (same ) Tj ET Q q 0 0 0 rg BT 491.03 523.50 Td (time ) Tj ET Q q 0 0 0 rg BT 507.46 523.50 Td (as ) Tj ET Q q 0 0 0 rg BT 516.33 523.50 Td (other ) Tj ET Q q 0 0 0 rg BT 534.98 523.50 Td (forms ) Tj ET Q q 0 0 0 rg BT 555.85 523.50 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 513.90 Td (media, ) Tj ET Q q 0 0 0 rg BT 73.16 513.90 Td (television ) Tj ET Q q 0 0 0 rg BT 106.38 513.90 Td (advertising ) Tj ET Q q 0 0 0 rg BT 144.04 513.90 Td (generally ) Tj ET Q q 0 0 0 rg BT 175.92 513.90 Td (accounts ) Tj ET Q q 0 0 0 rg BT 206.02 513.90 Td (for ) Tj ET Q q 0 0 0 rg BT 217.46 513.90 Td (a ) Tj ET Q q 0 0 0 rg BT 223.13 513.90 Td (higher ) Tj ET Q q 0 0 0 rg BT 245.68 513.90 Td (proportion ) Tj ET Q q 0 0 0 rg BT 281.57 513.90 Td (of ) Tj ET Q q 0 0 0 rg BT 290.35 513.90 Td (total ) Tj ET Q q 0 0 0 rg BT 306.68 513.90 Td (advertising ) Tj ET Q q 0 0 0 rg BT 344.34 513.90 Td (spend ) Tj ET Q q 0 0 0 rg BT 365.12 513.90 Td (than ) Tj ET Q q 0 0 0 rg BT 381.01 513.90 Td (in ) Tj ET Q q 0 0 0 rg BT 389.34 513.90 Td (the ) Tj ET Q q 0 0 0 rg BT 401.23 513.90 Td (developed ) Tj ET Q q 0 0 0 rg BT 436.22 513.90 Td (markets, ) Tj ET Q q 0 0 0 rg BT 465.66 513.90 Td (where ) Tj ET Q q 0 0 0 rg BT 487.32 513.90 Td (newspapers, ) Tj ET Q q 0 0 0 rg BT 528.75 513.90 Td (magazines ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 504.30 Td (and ) Tj ET Q q 0 0 0 rg BT 63.05 504.30 Td (radio ) Tj ET Q q 0 0 0 rg BT 81.49 504.30 Td (were ) Tj ET Q q 0 0 0 rg BT 99.03 504.30 Td (established ) Tj ET Q q 0 0 0 rg BT 136.58 504.30 Td (as ) Tj ET Q q 0 0 0 rg BT 145.24 504.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 182.79 504.30 Td (media ) Tj ET Q q 0 0 0 rg BT 204.34 504.30 Td (well ) Tj ET Q q 0 0 0 rg BT 220.11 504.30 Td (before ) Tj ET Q q 0 0 0 rg BT 242.54 504.30 Td (the ) Tj ET Q q 0 0 0 rg BT 254.31 504.30 Td (advent ) Tj ET Q q 0 0 0 rg BT 277.64 504.30 Td (of ) Tj ET Q q 0 0 0 rg BT 286.30 504.30 Td (television.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 488.70 Td (The ) Tj ET Q q 0 0 0 rg BT 63.53 488.70 Td (following ) Tj ET Q q 0 0 0 rg BT 96.23 488.70 Td (table ) Tj ET Q q 0 0 0 rg BT 113.37 488.70 Td (shows ) Tj ET Q q 0 0 0 rg BT 134.97 488.70 Td (television ) Tj ET Q q 0 0 0 rg BT 167.67 488.70 Td (advertising ) Tj ET Q q 0 0 0 rg BT 204.81 488.70 Td (spend ) Tj ET Q q 0 0 0 rg BT 225.06 488.70 Td (as ) Tj ET Q q 0 0 0 rg BT 233.32 488.70 Td (a ) Tj ET Q q 0 0 0 rg BT 238.46 488.70 Td (percentage ) Tj ET Q q 0 0 0 rg BT 274.70 488.70 Td (of ) Tj ET Q q 0 0 0 rg BT 282.95 488.70 Td (total ) Tj ET Q q 0 0 0 rg BT 298.77 488.70 Td (advertising ) Tj ET Q q 0 0 0 rg BT 335.91 488.70 Td (spend ) Tj ET Q q 0 0 0 rg BT 356.16 488.70 Td (in ) Tj ET Q q 0 0 0 rg BT 363.98 488.70 Td (the ) Tj ET Q q 0 0 0 rg BT 375.34 488.70 Td (markets ) Tj ET Q q 0 0 0 rg BT 402.26 488.70 Td (of ) Tj ET Q q 0 0 0 rg BT 410.52 488.70 Td (Central ) Tj ET Q q 0 0 0 rg BT 435.66 488.70 Td (and ) Tj ET Q q 0 0 0 rg BT 448.80 488.70 Td (Eastern ) Tj ET Q q 0 0 0 rg BT 474.38 488.70 Td (Europe ) Tj ET Q q 0 0 0 rg BT 499.08 488.70 Td (in ) Tj ET Q q 0 0 0 rg BT 506.89 488.70 Td (which ) Tj ET Q q 0 0 0 rg BT 528.04 488.70 Td (we ) Tj ET Q q 0 0 0 rg BT 538.96 488.70 Td (operate ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 479.10 Td (and ) Tj ET Q q 0 0 0 rg BT 63.05 479.10 Td (for ) Tj ET Q q 0 0 0 rg BT 74.38 479.10 Td (the ) Tj ET Q q 0 0 0 rg BT 86.15 479.10 Td (developed ) Tj ET Q q 0 0 0 rg BT 121.03 479.10 Td (markets.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 447.60 148.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 197.50 447.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 239.50 447.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.50 447.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 447.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.50 447.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.50 447.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 447.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 447.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 447.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 447.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 447.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 447.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 447.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 447.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.50 447.60 42.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 197.5 447.6 m 239.5 447.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 243.5 447.6 m 285.5 447.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 447.6 m 331.5 447.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 447.6 m 377.5 447.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 447.6 m 423.5 447.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 447.6 m 469.5 447.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 447.6 m 515.5 447.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 447.6 m 561.5 447.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 459.83 Td (TV) Tj ET Q q 0 0 0 rg BT 62.97 459.83 Td ( advertising spend) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 451.83 Td (as a % of total advertising spend) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 451.83 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 256.00 451.83 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 302.00 451.83 Td (2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.00 451.83 Td (2011) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.00 451.83 Td (2010) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.00 451.83 Td (2009) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.00 451.83 Td (2008) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.00 451.83 Td (2007) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 438.85 Td (CME markets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 224.30 438.85 Td (53) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 232.30 438.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 270.30 438.85 Td (52) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.30 438.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 316.30 438.85 Td (53) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 324.30 438.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.30 438.85 Td (52) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.30 438.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.30 438.85 Td (50) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.30 438.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 454.30 438.85 Td (50) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.30 438.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.30 438.85 Td (51) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 508.30 438.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.30 438.85 Td (49) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.30 438.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 425.85 Td (Developed markets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 224.30 425.85 Td (43) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 232.30 425.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 270.30 425.85 Td (43) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.30 425.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 316.30 425.85 Td (44) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 324.30 425.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.30 425.85 Td (44) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.30 425.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.30 425.85 Td (44) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.30 425.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 454.30 425.85 Td (43) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.30 425.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.30 425.85 Td (42) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 508.30 425.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.30 425.85 Td (42) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.30 425.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 406.50 Td (Source: ) Tj ET Q q 0 0 0 rg BT 75.94 406.50 Td (Group ) Tj ET Q q 0 0 0 rg BT 98.38 406.50 Td (M) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 390.90 Td (As ) Tj ET Q q 0 0 0 rg BT 60.62 390.90 Td (shown ) Tj ET Q q 0 0 0 rg BT 83.74 390.90 Td (above, ) Tj ET Q q 0 0 0 rg BT 107.07 390.90 Td (the ) Tj ET Q q 0 0 0 rg BT 119.07 390.90 Td (share ) Tj ET Q q 0 0 0 rg BT 138.18 390.90 Td (of ) Tj ET Q q 0 0 0 rg BT 147.07 390.90 Td (television ) Tj ET Q q 0 0 0 rg BT 180.40 390.90 Td (advertising ) Tj ET Q q 0 0 0 rg BT 218.18 390.90 Td (relative ) Tj ET Q q 0 0 0 rg BT 244.39 390.90 Td (to ) Tj ET Q q 0 0 0 rg BT 252.84 390.90 Td (print ) Tj ET Q q 0 0 0 rg BT 270.18 390.90 Td (and ) Tj ET Q q 0 0 0 rg BT 283.96 390.90 Td (other ) Tj ET Q q 0 0 0 rg BT 302.63 390.90 Td (advertising ) Tj ET Q q 0 0 0 rg BT 340.40 390.90 Td (in ) Tj ET Q q 0 0 0 rg BT 348.85 390.90 Td (our ) Tj ET Q q 0 0 0 rg BT 361.75 390.90 Td (markets ) Tj ET Q q 0 0 0 rg BT 389.30 390.90 Td (has ) Tj ET Q q 0 0 0 rg BT 402.19 390.90 Td (grown ) Tj ET Q q 0 0 0 rg BT 424.86 390.90 Td (during ) Tj ET Q q 0 0 0 rg BT 447.98 390.90 Td (the ) Tj ET Q q 0 0 0 rg BT 459.98 390.90 Td (last ) Tj ET Q q 0 0 0 rg BT 473.32 390.90 Td (eight ) Tj ET Q q 0 0 0 rg BT 491.54 390.90 Td (years. ) Tj ET Q q 0 0 0 rg BT 512.49 390.90 Td (W) Tj ET Q q 0 0 0 rg BT 519.40 390.90 Td (e ) Tj ET Q q 0 0 0 rg BT 525.18 390.90 Td (believe ) Tj ET Q q 0 0 0 rg BT 550.50 390.90 Td (that ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 381.30 Td (television ) Tj ET Q q 0 0 0 rg BT 82.89 381.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 120.73 381.30 Td (will ) Tj ET Q q 0 0 0 rg BT 135.46 381.30 Td (hold ) Tj ET Q q 0 0 0 rg BT 151.97 381.30 Td (this ) Tj ET Q q 0 0 0 rg BT 165.82 381.30 Td (share ) Tj ET Q q 0 0 0 rg BT 184.99 381.30 Td (because ) Tj ET Q q 0 0 0 rg BT 212.59 381.30 Td (of ) Tj ET Q q 0 0 0 rg BT 221.54 381.30 Td (the ) Tj ET Q q 0 0 0 rg BT 233.60 381.30 Td (greater ) Tj ET Q q 0 0 0 rg BT 258.10 381.30 Td (reach ) Tj ET Q q 0 0 0 rg BT 277.70 381.30 Td (and ) Tj ET Q q 0 0 0 rg BT 291.54 381.30 Td (better ) Tj ET Q q 0 0 0 rg BT 312.04 381.30 Td (measurement ) Tj ET Q q 0 0 0 rg BT 356.97 381.30 Td (capabilities ) Tj ET Q q 0 0 0 rg BT 395.69 381.30 Td (of ) Tj ET Q q 0 0 0 rg BT 404.64 381.30 Td (television ) Tj ET Q q 0 0 0 rg BT 438.04 381.30 Td (advertising, ) Tj ET Q q 0 0 0 rg BT 477.87 381.30 Td (which ) Tj ET Q q 0 0 0 rg BT 499.71 381.30 Td (makes ) Tj ET Q q 0 0 0 rg BT 522.44 381.30 Td (this ) Tj ET Q q 0 0 0 rg BT 536.28 381.30 Td (medium ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 371.70 Td (more ) Tj ET Q q 0 0 0 rg BT 68.17 371.70 Td (ef) Tj ET Q q 0 0 0 rg BT 74.24 371.70 Td (fective ) Tj ET Q q 0 0 0 rg BT 98.24 371.70 Td (to ) Tj ET Q q 0 0 0 rg BT 106.70 371.70 Td (advertisers ) Tj ET Q q 0 0 0 rg BT 143.58 371.70 Td (compared ) Tj ET Q q 0 0 0 rg BT 177.36 371.70 Td (to ) Tj ET Q q 0 0 0 rg BT 185.81 371.70 Td (print, ) Tj ET Q q 0 0 0 rg BT 205.16 371.70 Td (radio ) Tj ET Q q 0 0 0 rg BT 223.83 371.70 Td (and ) Tj ET Q q 0 0 0 rg BT 237.61 371.70 Td (outdoor ) Tj ET Q q 0 0 0 rg BT 264.73 371.70 Td (advertising. ) Tj ET Q q 0 0 0 rg BT 304.35 371.70 Td (T) Tj ET Q q 0 0 0 rg BT 308.68 371.70 Td (elevision ) Tj ET Q q 0 0 0 rg BT 339.80 371.70 Td (is ) Tj ET Q q 0 0 0 rg BT 347.37 371.70 Td (especially ) Tj ET Q q 0 0 0 rg BT 381.59 371.70 Td (attractive ) Tj ET Q q 0 0 0 rg BT 413.58 371.70 Td (to ) Tj ET Q q 0 0 0 rg BT 422.04 371.70 Td (advertisers ) Tj ET Q q 0 0 0 rg BT 458.92 371.70 Td (because ) Tj ET Q q 0 0 0 rg BT 486.48 371.70 Td (it ) Tj ET Q q 0 0 0 rg BT 493.15 371.70 Td (delivers ) Tj ET Q q 0 0 0 rg BT 520.71 371.70 Td (high ) Tj ET Q q 0 0 0 rg BT 537.17 371.70 Td (reach ) Tj ET Q q 0 0 0 rg BT 556.72 371.70 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 362.10 Td (low ) Tj ET Q q 0 0 0 rg BT 63.57 362.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 78.52 362.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 112.13 362.10 Td (to ) Tj ET Q q 0 0 0 rg BT 120.41 362.10 Td (other ) Tj ET Q q 0 0 0 rg BT 138.92 362.10 Td (forms ) Tj ET Q q 0 0 0 rg BT 159.65 362.10 Td (of ) Tj ET Q q 0 0 0 rg BT 168.38 362.10 Td (media. ) Tj ET Q q 0 0 0 rg BT 191.99 362.10 Td (More ) Tj ET Q q 0 0 0 rg BT 211.39 362.10 Td (recently) Tj ET Q q 0 0 0 rg BT 236.63 362.10 Td (, ) Tj ET Q q 0 0 0 rg BT 240.70 362.10 Td (internet ) Tj ET Q q 0 0 0 rg BT 267.20 362.10 Td (advertising ) Tj ET Q q 0 0 0 rg BT 304.81 362.10 Td (has ) Tj ET Q q 0 0 0 rg BT 317.54 362.10 Td (grown ) Tj ET Q q 0 0 0 rg BT 340.05 362.10 Td (at ) Tj ET Q q 0 0 0 rg BT 347.89 362.10 Td (the ) Tj ET Q q 0 0 0 rg BT 359.73 362.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 387.56 362.10 Td (of ) Tj ET Q q 0 0 0 rg BT 396.29 362.10 Td (print ) Tj ET Q q 0 0 0 rg BT 413.46 362.10 Td (and ) Tj ET Q q 0 0 0 rg BT 427.08 362.10 Td (outdoor ) Tj ET Q q 0 0 0 rg BT 454.04 362.10 Td (advertising, ) Tj ET Q q 0 0 0 rg BT 493.65 362.10 Td (which ) Tj ET Q q 0 0 0 rg BT 515.27 362.10 Td (has ) Tj ET Q q 0 0 0 rg BT 528.00 362.10 Td (allowed ) Tj ET Q q 0 0 0 rg BT 555.39 362.10 Td (us ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 352.50 Td (to ) Tj ET Q q 0 0 0 rg BT 57.72 352.50 Td (of) Tj ET Q q 0 0 0 rg BT 64.24 352.50 Td (fer ) Tj ET Q q 0 0 0 rg BT 75.12 352.50 Td (additional ) Tj ET Q q 0 0 0 rg BT 109.11 352.50 Td (advertising ) Tj ET Q q 0 0 0 rg BT 146.66 352.50 Td (opportunities ) Tj ET Q q 0 0 0 rg BT 190.88 352.50 Td (to ) Tj ET Q q 0 0 0 rg BT 199.10 352.50 Td (complement ) Tj ET Q q 0 0 0 rg BT 240.64 352.50 Td (our ) Tj ET Q q 0 0 0 rg BT 253.31 352.50 Td (television ) Tj ET Q q 0 0 0 rg BT 286.41 352.50 Td (advertising ) Tj ET Q q 0 0 0 rg BT 323.96 352.50 Td (revenues. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 336.90 Td (In ) Tj ET Q q 0 0 0 rg BT 58.00 336.90 Td (summary) Tj ET Q q 0 0 0 rg BT 87.25 336.90 Td (, ) Tj ET Q q 0 0 0 rg BT 91.09 336.90 Td (when ) Tj ET Q q 0 0 0 rg BT 110.26 336.90 Td (our ) Tj ET Q q 0 0 0 rg BT 122.76 336.90 Td (markets ) Tj ET Q q 0 0 0 rg BT 149.92 336.90 Td (recover ) Tj ET Q q 0 0 0 rg BT 175.74 336.90 Td (we ) Tj ET Q q 0 0 0 rg BT 186.90 336.90 Td (expect ) Tj ET Q q 0 0 0 rg BT 209.61 336.90 Td (the ) Tj ET Q q 0 0 0 rg BT 221.22 336.90 Td (economies ) Tj ET Q q 0 0 0 rg BT 257.27 336.90 Td (of ) Tj ET Q q 0 0 0 rg BT 265.77 336.90 Td (the ) Tj ET Q q 0 0 0 rg BT 277.38 336.90 Td (countries ) Tj ET Q q 0 0 0 rg BT 308.54 336.90 Td (in ) Tj ET Q q 0 0 0 rg BT 316.60 336.90 Td (which ) Tj ET Q q 0 0 0 rg BT 337.99 336.90 Td (we ) Tj ET Q q 0 0 0 rg BT 349.16 336.90 Td (operate ) Tj ET Q q 0 0 0 rg BT 374.53 336.90 Td (to ) Tj ET Q q 0 0 0 rg BT 382.59 336.90 Td (resume ) Tj ET Q q 0 0 0 rg BT 407.53 336.90 Td (their ) Tj ET Q q 0 0 0 rg BT 424.03 336.90 Td (conver) Tj ET Q q 0 0 0 rg BT 445.65 336.90 Td (gence ) Tj ET Q q 0 0 0 rg BT 466.14 336.90 Td (with ) Tj ET Q q 0 0 0 rg BT 482.20 336.90 Td (more ) Tj ET Q q 0 0 0 rg BT 500.47 336.90 Td (developed ) Tj ET Q q 0 0 0 rg BT 535.18 336.90 Td (markets, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 327.30 Td (particularly ) Tj ET Q q 0 0 0 rg BT 88.23 327.30 Td (W) Tj ET Q q 0 0 0 rg BT 95.14 327.30 Td (estern ) Tj ET Q q 0 0 0 rg BT 116.24 327.30 Td (Europe, ) Tj ET Q q 0 0 0 rg BT 143.34 327.30 Td (resulting ) Tj ET Q q 0 0 0 rg BT 173.34 327.30 Td (in ) Tj ET Q q 0 0 0 rg BT 181.56 327.30 Td (higher ) Tj ET Q q 0 0 0 rg BT 204.00 327.30 Td (rates ) Tj ET Q q 0 0 0 rg BT 221.10 327.30 Td (of ) Tj ET Q q 0 0 0 rg BT 229.76 327.30 Td (growth ) Tj ET Q q 0 0 0 rg BT 254.43 327.30 Td (of ) Tj ET Q q 0 0 0 rg BT 263.09 327.30 Td (GDP) Tj ET Q q 0 0 0 rg BT 278.80 327.30 Td ( ) Tj ET Q q 0 0 0 rg BT 280.80 327.30 Td (per ) Tj ET Q q 0 0 0 rg BT 293.01 327.30 Td (capita ) Tj ET Q q 0 0 0 rg BT 314.11 327.30 Td (in ) Tj ET Q q 0 0 0 rg BT 322.33 327.30 Td (our ) Tj ET Q q 0 0 0 rg BT 335.00 327.30 Td (markets ) Tj ET Q q 0 0 0 rg BT 362.32 327.30 Td (compared ) Tj ET Q q 0 0 0 rg BT 395.86 327.30 Td (to ) Tj ET Q q 0 0 0 rg BT 404.08 327.30 Td (that ) Tj ET Q q 0 0 0 rg BT 418.08 327.30 Td (of ) Tj ET Q q 0 0 0 rg BT 426.74 327.30 Td (the ) Tj ET Q q 0 0 0 rg BT 438.52 327.30 Td (developed ) Tj ET Q q 0 0 0 rg BT 473.39 327.30 Td (countries. ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 308.70 Td (Country operations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 293.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 64.13 293.10 Td (strategy ) Tj ET Q q 0 0 0 rg BT 91.64 293.10 Td (is ) Tj ET Q q 0 0 0 rg BT 99.17 293.10 Td (to ) Tj ET Q q 0 0 0 rg BT 107.58 293.10 Td (maintain ) Tj ET Q q 0 0 0 rg BT 137.76 293.10 Td (and ) Tj ET Q q 0 0 0 rg BT 151.50 293.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 179.90 293.10 Td (our ) Tj ET Q q 0 0 0 rg BT 192.75 293.10 Td (audience ) Tj ET Q q 0 0 0 rg BT 223.37 293.10 Td (leadership ) Tj ET Q q 0 0 0 rg BT 258.43 293.10 Td (in ) Tj ET Q q 0 0 0 rg BT 266.84 293.10 Td (each ) Tj ET Q q 0 0 0 rg BT 283.68 293.10 Td (of ) Tj ET Q q 0 0 0 rg BT 292.54 293.10 Td (our ) Tj ET Q q 0 0 0 rg BT 305.39 293.10 Td (countries ) Tj ET Q q 0 0 0 rg BT 336.90 293.10 Td (in ) Tj ET Q q 0 0 0 rg BT 345.32 293.10 Td (order ) Tj ET Q q 0 0 0 rg BT 364.38 293.10 Td (to ) Tj ET Q q 0 0 0 rg BT 372.80 293.10 Td (pursue ) Tj ET Q q 0 0 0 rg BT 396.31 293.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 414.05 293.10 Td (strategies ) Tj ET Q q 0 0 0 rg BT 446.46 293.10 Td (designed ) Tj ET Q q 0 0 0 rg BT 477.08 293.10 Td (to ) Tj ET Q q 0 0 0 rg BT 485.49 293.10 Td (maximize ) Tj ET Q q 0 0 0 rg BT 519.23 293.10 Td (our ) Tj ET Q q 0 0 0 rg BT 532.08 293.10 Td (revenues. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 283.50 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 283.50 Td (e ) Tj ET Q q 0 0 0 rg BT 61.57 283.50 Td (have ) Tj ET Q q 0 0 0 rg BT 78.29 283.50 Td (built ) Tj ET Q q 0 0 0 rg BT 94.57 283.50 Td (our ) Tj ET Q q 0 0 0 rg BT 106.84 283.50 Td (audience ) Tj ET Q q 0 0 0 rg BT 136.88 283.50 Td (leadership ) Tj ET Q q 0 0 0 rg BT 171.37 283.50 Td (in ) Tj ET Q q 0 0 0 rg BT 179.20 283.50 Td (each ) Tj ET Q q 0 0 0 rg BT 195.47 283.50 Td (of ) Tj ET Q q 0 0 0 rg BT 203.75 283.50 Td (our ) Tj ET Q q 0 0 0 rg BT 216.02 283.50 Td (markets ) Tj ET Q q 0 0 0 rg BT 242.96 283.50 Td (by ) Tj ET Q q 0 0 0 rg BT 252.57 283.50 Td (operating ) Tj ET Q q 0 0 0 rg BT 284.39 283.50 Td (a ) Tj ET Q q 0 0 0 rg BT 289.56 283.50 Td (multi-channel ) Tj ET Q q 0 0 0 rg BT 335.60 283.50 Td (business ) Tj ET Q q 0 0 0 rg BT 364.32 283.50 Td (model ) Tj ET Q q 0 0 0 rg BT 385.93 283.50 Td (with ) Tj ET Q q 0 0 0 rg BT 401.77 283.50 Td (a ) Tj ET Q q 0 0 0 rg BT 406.93 283.50 Td (diversified ) Tj ET Q q 0 0 0 rg BT 442.75 283.50 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 472.36 283.50 Td (of ) Tj ET Q q 0 0 0 rg BT 480.64 283.50 Td (television ) Tj ET Q q 0 0 0 rg BT 513.36 283.50 Td (channels ) Tj ET Q q 0 0 0 rg BT 542.96 283.50 Td (which ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 273.90 Td (appeal ) Tj ET Q q 0 0 0 rg BT 72.38 273.90 Td (to ) Tj ET Q q 0 0 0 rg BT 80.60 273.90 Td (a ) Tj ET Q q 0 0 0 rg BT 86.15 273.90 Td (broad ) Tj ET Q q 0 0 0 rg BT 106.36 273.90 Td (audience.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 258.30 Td (Content ) Tj ET Q q 0 0 0 rg BT 76.79 258.30 Td (that ) Tj ET Q q 0 0 0 rg BT 90.75 258.30 Td (consistently ) Tj ET Q q 0 0 0 rg BT 130.93 258.30 Td (generates ) Tj ET Q q 0 0 0 rg BT 163.09 258.30 Td (high ) Tj ET Q q 0 0 0 rg BT 179.28 258.30 Td (audience ) Tj ET Q q 0 0 0 rg BT 209.66 258.30 Td (shares ) Tj ET Q q 0 0 0 rg BT 231.62 258.30 Td (is ) Tj ET Q q 0 0 0 rg BT 238.91 258.30 Td (crucial ) Tj ET Q q 0 0 0 rg BT 262.64 258.30 Td (to ) Tj ET Q q 0 0 0 rg BT 270.82 258.30 Td (maintaining ) Tj ET Q q 0 0 0 rg BT 311.00 258.30 Td (the ) Tj ET Q q 0 0 0 rg BT 322.73 258.30 Td (success ) Tj ET Q q 0 0 0 rg BT 348.68 258.30 Td (of ) Tj ET Q q 0 0 0 rg BT 357.31 258.30 Td (each ) Tj ET Q q 0 0 0 rg BT 373.92 258.30 Td (of ) Tj ET Q q 0 0 0 rg BT 382.55 258.30 Td (our ) Tj ET Q q 0 0 0 rg BT 395.17 258.30 Td (country ) Tj ET Q q 0 0 0 rg BT 421.57 258.30 Td (operations. ) Tj ET Q q 0 0 0 rg BT 458.71 258.30 Td (While ) Tj ET Q q 0 0 0 rg BT 480.22 258.30 Td (content ) Tj ET Q q 0 0 0 rg BT 505.73 258.30 Td (acquired ) Tj ET Q q 0 0 0 rg BT 535.23 258.30 Td (from ) Tj ET Q q 0 0 0 rg BT 552.74 258.30 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 248.70 Td (Hollywood ) Tj ET Q q 0 0 0 rg BT 87.77 248.70 Td (studios ) Tj ET Q q 0 0 0 rg BT 112.72 248.70 Td (remains ) Tj ET Q q 0 0 0 rg BT 140.32 248.70 Td (popular) Tj ET Q q 0 0 0 rg BT 164.44 248.70 Td (, ) Tj ET Q q 0 0 0 rg BT 168.71 248.70 Td (our ) Tj ET Q q 0 0 0 rg BT 181.65 248.70 Td (audiences ) Tj ET Q q 0 0 0 rg BT 215.46 248.70 Td (increasingly ) Tj ET Q q 0 0 0 rg BT 256.83 248.70 Td (demand ) Tj ET Q q 0 0 0 rg BT 284.43 248.70 Td (content ) Tj ET Q q 0 0 0 rg BT 310.25 248.70 Td (that ) Tj ET Q q 0 0 0 rg BT 324.53 248.70 Td (is ) Tj ET Q q 0 0 0 rg BT 332.14 248.70 Td (produced ) Tj ET Q q 0 0 0 rg BT 364.18 248.70 Td (in ) Tj ET Q q 0 0 0 rg BT 372.67 248.70 Td (their ) Tj ET Q q 0 0 0 rg BT 389.61 248.70 Td (local ) Tj ET Q q 0 0 0 rg BT 407.43 248.70 Td (language ) Tj ET Q q 0 0 0 rg BT 438.58 248.70 Td (and ) Tj ET Q q 0 0 0 rg BT 452.40 248.70 Td (reflects ) Tj ET Q q 0 0 0 rg BT 478.22 248.70 Td (their ) Tj ET Q q 0 0 0 rg BT 495.15 248.70 Td (society) Tj ET Q q 0 0 0 rg BT 517.29 248.70 Td (, ) Tj ET Q q 0 0 0 rg BT 521.57 248.70 Td (attitudes ) Tj ET Q q 0 0 0 rg BT 550.95 248.70 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 239.10 Td (culture. ) Tj ET Q q 0 0 0 rg BT 75.16 239.10 Td (W) Tj ET Q q 0 0 0 rg BT 82.07 239.10 Td (e ) Tj ET Q q 0 0 0 rg BT 87.18 239.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 111.84 239.10 Td (developing ) Tj ET Q q 0 0 0 rg BT 148.95 239.10 Td (and ) Tj ET Q q 0 0 0 rg BT 162.07 239.10 Td (producing ) Tj ET Q q 0 0 0 rg BT 196.07 239.10 Td (local ) Tj ET Q q 0 0 0 rg BT 213.18 239.10 Td (content ) Tj ET Q q 0 0 0 rg BT 238.29 239.10 Td (is ) Tj ET Q q 0 0 0 rg BT 245.18 239.10 Td (key ) Tj ET Q q 0 0 0 rg BT 258.30 239.10 Td (to ) Tj ET Q q 0 0 0 rg BT 266.08 239.10 Td (being ) Tj ET Q q 0 0 0 rg BT 285.42 239.10 Td (successful ) Tj ET Q q 0 0 0 rg BT 319.86 239.10 Td (in ) Tj ET Q q 0 0 0 rg BT 327.65 239.10 Td (prime ) Tj ET Q q 0 0 0 rg BT 347.87 239.10 Td (time ) Tj ET Q q 0 0 0 rg BT 363.65 239.10 Td (and ) Tj ET Q q 0 0 0 rg BT 376.76 239.10 Td (supporting ) Tj ET Q q 0 0 0 rg BT 412.55 239.10 Td (market-leading ) Tj ET Q q 0 0 0 rg BT 462.53 239.10 Td (channels. ) Tj ET Q q 0 0 0 rg BT 494.08 239.10 Td (Maintaining ) Tj ET Q q 0 0 0 rg BT 534.75 239.10 Td (a ) Tj ET Q q 0 0 0 rg BT 539.86 239.10 Td (regular ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 229.50 Td (stream ) Tj ET Q q 0 0 0 rg BT 72.82 229.50 Td (of ) Tj ET Q q 0 0 0 rg BT 81.49 229.50 Td (popular ) Tj ET Q q 0 0 0 rg BT 107.93 229.50 Td (local ) Tj ET Q q 0 0 0 rg BT 125.47 229.50 Td (content ) Tj ET Q q 0 0 0 rg BT 151.02 229.50 Td (at ) Tj ET Q q 0 0 0 rg BT 158.79 229.50 Td (the ) Tj ET Q q 0 0 0 rg BT 170.57 229.50 Td (lowest ) Tj ET Q q 0 0 0 rg BT 193.45 229.50 Td (possible ) Tj ET Q q 0 0 0 rg BT 221.68 229.50 Td (cost ) Tj ET Q q 0 0 0 rg BT 236.56 229.50 Td (is ) Tj ET Q q 0 0 0 rg BT 243.90 229.50 Td (operationally ) Tj ET Q q 0 0 0 rg BT 288.11 229.50 Td (important ) Tj ET Q q 0 0 0 rg BT 321.21 229.50 Td (over ) Tj ET Q q 0 0 0 rg BT 337.43 229.50 Td (the ) Tj ET Q q 0 0 0 rg BT 349.20 229.50 Td (long-term, ) Tj ET Q q 0 0 0 rg BT 384.75 229.50 Td (and ) Tj ET Q q 0 0 0 rg BT 398.30 229.50 Td (gives ) Tj ET Q q 0 0 0 rg BT 417.18 229.50 Td (us ) Tj ET Q q 0 0 0 rg BT 426.30 229.50 Td (the ) Tj ET Q q 0 0 0 rg BT 438.07 229.50 Td (opportunity ) Tj ET Q q 0 0 0 rg BT 477.40 229.50 Td (to ) Tj ET Q q 0 0 0 rg BT 485.63 229.50 Td (accomplish ) Tj ET Q q 0 0 0 rg BT 524.06 229.50 Td (this ) Tj ET Q q 0 0 0 rg BT 537.62 229.50 Td (goal.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 213.90 Td (As ) Tj ET Q q 0 0 0 rg BT 60.23 213.90 Td (the ) Tj ET Q q 0 0 0 rg BT 71.84 213.90 Td (distribution ) Tj ET Q q 0 0 0 rg BT 110.57 213.90 Td (platforms ) Tj ET Q q 0 0 0 rg BT 143.07 213.90 Td (in ) Tj ET Q q 0 0 0 rg BT 151.14 213.90 Td (our ) Tj ET Q q 0 0 0 rg BT 163.64 213.90 Td (region ) Tj ET Q q 0 0 0 rg BT 185.92 213.90 Td (develop ) Tj ET Q q 0 0 0 rg BT 213.08 213.90 Td (and ) Tj ET Q q 0 0 0 rg BT 226.47 213.90 Td (become ) Tj ET Q q 0 0 0 rg BT 253.19 213.90 Td (more ) Tj ET Q q 0 0 0 rg BT 271.46 213.90 Td (diversified, ) Tj ET Q q 0 0 0 rg BT 309.52 213.90 Td (our ) Tj ET Q q 0 0 0 rg BT 322.02 213.90 Td (television ) Tj ET Q q 0 0 0 rg BT 354.96 213.90 Td (channels ) Tj ET Q q 0 0 0 rg BT 384.79 213.90 Td (and ) Tj ET Q q 0 0 0 rg BT 398.18 213.90 Td (content ) Tj ET Q q 0 0 0 rg BT 423.57 213.90 Td (will ) Tj ET Q q 0 0 0 rg BT 437.86 213.90 Td (reach ) Tj ET Q q 0 0 0 rg BT 457.01 213.90 Td (viewers ) Tj ET Q q 0 0 0 rg BT 483.73 213.90 Td (through ) Tj ET Q q 0 0 0 rg BT 510.46 213.90 Td (new ) Tj ET Q q 0 0 0 rg BT 525.63 213.90 Td (distribution ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 204.30 Td (of) Tj ET Q q 0 0 0 rg BT 56.02 204.30 Td (ferings, ) Tj ET Q q 0 0 0 rg BT 81.81 204.30 Td (such ) Tj ET Q q 0 0 0 rg BT 98.05 204.30 Td (as ) Tj ET Q q 0 0 0 rg BT 106.29 204.30 Td (internet ) Tj ET Q q 0 0 0 rg BT 132.18 204.30 Td (TV) Tj ET Q q 0 0 0 rg BT 142.70 204.30 Td ( ) Tj ET Q q 0 0 0 rg BT 144.28 204.30 Td (and ) Tj ET Q q 0 0 0 rg BT 157.40 204.30 Td (smart ) Tj ET Q q 0 0 0 rg BT 176.75 204.30 Td (devices. ) Tj ET Q q 0 0 0 rg BT 204.20 204.30 Td (W) Tj ET Q q 0 0 0 rg BT 211.11 204.30 Td (e ) Tj ET Q q 0 0 0 rg BT 216.24 204.30 Td (of) Tj ET Q q 0 0 0 rg BT 222.76 204.30 Td (fer ) Tj ET Q q 0 0 0 rg BT 233.21 204.30 Td (viewers ) Tj ET Q q 0 0 0 rg BT 259.67 204.30 Td (the ) Tj ET Q q 0 0 0 rg BT 271.01 204.30 Td (choice ) Tj ET Q q 0 0 0 rg BT 293.46 204.30 Td (of ) Tj ET Q q 0 0 0 rg BT 301.70 204.30 Td (watching ) Tj ET Q q 0 0 0 rg BT 332.60 204.30 Td (premium ) Tj ET Q q 0 0 0 rg BT 363.06 204.30 Td (television ) Tj ET Q q 0 0 0 rg BT 395.74 204.30 Td (content ) Tj ET Q q 0 0 0 rg BT 420.86 204.30 Td (through ) Tj ET Q q 0 0 0 rg BT 447.33 204.30 Td (a ) Tj ET Q q 0 0 0 rg BT 452.45 204.30 Td (series ) Tj ET Q q 0 0 0 rg BT 472.24 204.30 Td (of ) Tj ET Q q 0 0 0 rg BT 480.48 204.30 Td (portals, ) Tj ET Q q 0 0 0 rg BT 505.83 204.30 Td (including ) Tj ET Q q 0 0 0 rg BT 537.62 204.30 Td (through ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 194.70 Td (V) Tj ET Q q 0 0 0 rg BT 54.25 194.70 Td (oyo ) Tj ET Q q 0 0 0 rg BT 68.25 194.70 Td (and ) Tj ET Q q 0 0 0 rg BT 81.80 194.70 Td (catch-up ) Tj ET Q q 0 0 0 rg BT 111.34 194.70 Td (services ) Tj ET Q q 0 0 0 rg BT 139.10 194.70 Td (on ) Tj ET Q q 0 0 0 rg BT 149.10 194.70 Td (our ) Tj ET Q q 0 0 0 rg BT 161.77 194.70 Td (websites.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 179.10 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 179.10 Td (e ) Tj ET Q q 0 0 0 rg BT 61.81 179.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 86.75 179.10 Td (that ) Tj ET Q q 0 0 0 rg BT 100.60 179.10 Td (the ) Tj ET Q q 0 0 0 rg BT 112.22 179.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 145.18 179.10 Td (is ) Tj ET Q q 0 0 0 rg BT 152.36 179.10 Td (best ) Tj ET Q q 0 0 0 rg BT 167.09 179.10 Td (served ) Tj ET Q q 0 0 0 rg BT 189.82 179.10 Td (by ) Tj ET Q q 0 0 0 rg BT 199.67 179.10 Td (a ) Tj ET Q q 0 0 0 rg BT 205.07 179.10 Td (focus ) Tj ET Q q 0 0 0 rg BT 224.24 179.10 Td (on ) Tj ET Q q 0 0 0 rg BT 234.09 179.10 Td (our ) Tj ET Q q 0 0 0 rg BT 246.60 179.10 Td (television ) Tj ET Q q 0 0 0 rg BT 279.55 179.10 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 322.28 179.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 342.79 179.10 Td (in ) Tj ET Q q 0 0 0 rg BT 350.86 179.10 Td (each ) Tj ET Q q 0 0 0 rg BT 367.36 179.10 Td (country) Tj ET Q q 0 0 0 rg BT 391.28 179.10 Td (. ) Tj ET Q q 0 0 0 rg BT 395.13 179.10 Td (In ) Tj ET Q q 0 0 0 rg BT 403.64 179.10 Td (that ) Tj ET Q q 0 0 0 rg BT 417.48 179.10 Td (regard, ) Tj ET Q q 0 0 0 rg BT 441.76 179.10 Td (we ) Tj ET Q q 0 0 0 rg BT 452.93 179.10 Td (made ) Tj ET Q q 0 0 0 rg BT 472.11 179.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 507.72 179.10 Td (progress ) Tj ET Q q 0 0 0 rg BT 536.68 179.10 Td (with ) Tj ET Q q 0 0 0 rg BT 552.75 179.10 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 169.50 Td (disposal ) Tj ET Q q 0 0 0 rg BT 78.32 169.50 Td (of ) Tj ET Q q 0 0 0 rg BT 87.58 169.50 Td (our ) Tj ET Q q 0 0 0 rg BT 100.85 169.50 Td (non-core ) Tj ET Q q 0 0 0 rg BT 131.88 169.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 153.14 169.50 Td (including ) Tj ET Q q 0 0 0 rg BT 185.96 169.50 Td (the ) Tj ET Q q 0 0 0 rg BT 198.33 169.50 Td (divestiture ) Tj ET Q q 0 0 0 rg BT 234.70 169.50 Td (of ) Tj ET Q q 0 0 0 rg BT 243.96 169.50 Td (Bontonfilm ) Tj ET Q q 0 0 0 rg BT 283.45 169.50 Td (during ) Tj ET Q q 0 0 0 rg BT 306.93 169.50 Td (the ) Tj ET Q q 0 0 0 rg BT 319.30 169.50 Td (second ) Tj ET Q q 0 0 0 rg BT 344.12 169.50 Td (quarter ) Tj ET Q q 0 0 0 rg BT 369.37 169.50 Td (of ) Tj ET Q q 0 0 0 rg BT 378.63 169.50 Td (2014 ) Tj ET Q q 0 0 0 rg BT 397.23 169.50 Td (and ) Tj ET Q q 0 0 0 rg BT 411.38 169.50 Td (the ) Tj ET Q q 0 0 0 rg BT 423.75 169.50 Td (divestitures ) Tj ET Q q 0 0 0 rg BT 463.23 169.50 Td (of ) Tj ET Q q 0 0 0 rg BT 472.50 169.50 Td (the ) Tj ET Q q 0 0 0 rg BT 484.87 169.50 Td (home ) Tj ET Q q 0 0 0 rg BT 505.24 169.50 Td (video ) Tj ET Q q 0 0 0 rg BT 525.61 169.50 Td (distribution ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 159.90 Td (businesses ) Tj ET Q q 0 0 0 rg BT 85.26 159.90 Td (in ) Tj ET Q q 0 0 0 rg BT 93.47 159.90 Td (Romania ) Tj ET Q q 0 0 0 rg BT 124.34 159.90 Td (during ) Tj ET Q q 0 0 0 rg BT 147.21 159.90 Td (the ) Tj ET Q q 0 0 0 rg BT 158.97 159.90 Td (fourth ) Tj ET Q q 0 0 0 rg BT 180.51 159.90 Td (quarter) Tj ET Q q 0 0 0 rg BT 202.72 159.90 Td (. ) Tj ET Q q 0 0 0 rg BT 206.57 159.90 Td (W) Tj ET Q q 0 0 0 rg BT 213.48 159.90 Td (e ) Tj ET Q q 0 0 0 rg BT 219.01 159.90 Td (also ) Tj ET Q q 0 0 0 rg BT 233.89 159.90 Td (sold ) Tj ET Q q 0 0 0 rg BT 249.21 159.90 Td (our ) Tj ET Q q 0 0 0 rg BT 261.86 159.90 Td (remaining ) Tj ET Q q 0 0 0 rg BT 296.28 159.90 Td (distribution ) Tj ET Q q 0 0 0 rg BT 335.16 159.90 Td (business ) Tj ET Q q 0 0 0 rg BT 364.25 159.90 Td (in ) Tj ET Q q 0 0 0 rg BT 372.46 159.90 Td (Romania ) Tj ET Q q 0 0 0 rg BT 403.33 159.90 Td (during ) Tj ET Q q 0 0 0 rg BT 426.21 159.90 Td (January ) Tj ET Q q 0 0 0 rg BT 453.07 159.90 Td (2015, ) Tj ET Q q 0 0 0 rg BT 473.06 159.90 Td (and ) Tj ET Q q 0 0 0 rg BT 486.59 159.90 Td (during ) Tj ET Q q 0 0 0 rg BT 509.47 159.90 Td (the ) Tj ET Q q 0 0 0 rg BT 521.23 159.90 Td (course ) Tj ET Q q 0 0 0 rg BT 544.09 159.90 Td (of ) Tj ET Q q 0 0 0 rg BT 552.74 159.90 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 150.30 Td (year ) Tj ET Q q 0 0 0 rg BT 65.27 150.30 Td (we ) Tj ET Q q 0 0 0 rg BT 76.59 150.30 Td (expect ) Tj ET Q q 0 0 0 rg BT 99.47 150.30 Td (to ) Tj ET Q q 0 0 0 rg BT 107.69 150.30 Td (complete ) Tj ET Q q 0 0 0 rg BT 139.01 150.30 Td (the ) Tj ET Q q 0 0 0 rg BT 150.79 150.30 Td (disposal ) Tj ET Q q 0 0 0 rg BT 179.01 150.30 Td (of ) Tj ET Q q 0 0 0 rg BT 187.67 150.30 Td (our ) Tj ET Q q 0 0 0 rg BT 200.34 150.30 Td (Romanian ) Tj ET Q q 0 0 0 rg BT 235.22 150.30 Td (studio, ) Tj ET Q q 0 0 0 rg BT 258.78 150.30 Td (radio, ) Tj ET Q q 0 0 0 rg BT 279.21 150.30 Td (cinema ) Tj ET Q q 0 0 0 rg BT 304.31 150.30 Td (and ) Tj ET Q q 0 0 0 rg BT 317.86 150.30 Td (music ) Tj ET Q q 0 0 0 rg BT 338.97 150.30 Td (businesses.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 131.70 Td (Pr) Tj ET Q q 0 0 0 rg BT 57.79 131.70 Td (ogramming) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 116.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 64.19 116.10 Td (programming ) Tj ET Q q 0 0 0 rg BT 109.99 116.10 Td (strategy ) Tj ET Q q 0 0 0 rg BT 137.57 116.10 Td (in ) Tj ET Q q 0 0 0 rg BT 146.05 116.10 Td (each ) Tj ET Q q 0 0 0 rg BT 162.95 116.10 Td (country ) Tj ET Q q 0 0 0 rg BT 189.64 116.10 Td (is ) Tj ET Q q 0 0 0 rg BT 197.23 116.10 Td (tailored ) Tj ET Q q 0 0 0 rg BT 223.92 116.10 Td (to ) Tj ET Q q 0 0 0 rg BT 232.39 116.10 Td (match ) Tj ET Q q 0 0 0 rg BT 254.19 116.10 Td (the ) Tj ET Q q 0 0 0 rg BT 266.22 116.10 Td (expectations ) Tj ET Q q 0 0 0 rg BT 308.46 116.10 Td (of ) Tj ET Q q 0 0 0 rg BT 317.37 116.10 Td (key ) Tj ET Q q 0 0 0 rg BT 331.18 116.10 Td (audience ) Tj ET Q q 0 0 0 rg BT 361.86 116.10 Td (demographics ) Tj ET Q q 0 0 0 rg BT 408.98 116.10 Td (by ) Tj ET Q q 0 0 0 rg BT 419.24 116.10 Td (scheduling ) Tj ET Q q 0 0 0 rg BT 456.15 116.10 Td (and ) Tj ET Q q 0 0 0 rg BT 469.95 116.10 Td (marketing ) Tj ET Q q 0 0 0 rg BT 504.64 116.10 Td (an ) Tj ET Q q 0 0 0 rg BT 514.44 116.10 Td (optimal ) Tj ET Q q 0 0 0 rg BT 541.14 116.10 Td (mix ) Tj ET Q q 0 0 0 rg BT 555.84 116.10 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 106.50 Td (programs ) Tj ET Q q 0 0 0 rg BT 82.15 106.50 Td (in ) Tj ET Q q 0 0 0 rg BT 90.81 106.50 Td (a ) Tj ET Q q 0 0 0 rg BT 96.80 106.50 Td (cost ) Tj ET Q q 0 0 0 rg BT 112.12 106.50 Td (ef) Tj ET Q q 0 0 0 rg BT 118.19 106.50 Td (fective ) Tj ET Q q 0 0 0 rg BT 142.39 106.50 Td (manner) Tj ET Q q 0 0 0 rg BT 165.94 106.50 Td (. ) Tj ET Q q 0 0 0 rg BT 170.20 106.50 Td (The ) Tj ET Q q 0 0 0 rg BT 185.07 106.50 Td (programming ) Tj ET Q q 0 0 0 rg BT 231.05 106.50 Td (that ) Tj ET Q q 0 0 0 rg BT 245.49 106.50 Td (we ) Tj ET Q q 0 0 0 rg BT 257.25 106.50 Td (provide ) Tj ET Q q 0 0 0 rg BT 284.13 106.50 Td (drives ) Tj ET Q q 0 0 0 rg BT 306.11 106.50 Td (our ) Tj ET Q q 0 0 0 rg BT 319.21 106.50 Td (audience ) Tj ET Q q 0 0 0 rg BT 350.08 106.50 Td (shares ) Tj ET Q q 0 0 0 rg BT 372.50 106.50 Td (and ) Tj ET Q q 0 0 0 rg BT 386.49 106.50 Td (ratings ) Tj ET Q q 0 0 0 rg BT 410.70 106.50 Td (\(see ) Tj ET Q q 0 0 0 rg BT 426.02 106.50 Td ("Audience ) Tj ET Q q 0 0 0 rg BT 462.37 106.50 Td (Share ) Tj ET Q q 0 0 0 rg BT 483.02 106.50 Td (and ) Tj ET Q q 0 0 0 rg BT 497.01 106.50 Td (Ratings" ) Tj ET Q q 0 0 0 rg BT 527.16 106.50 Td (below\)) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 549.37 110.13 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.96 106.50 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 96.90 Td (consists ) Tj ET Q q 0 0 0 rg BT 76.54 96.90 Td (of ) Tj ET Q q 0 0 0 rg BT 84.90 96.90 Td (locally-produced ) Tj ET Q q 0 0 0 rg BT 140.81 96.90 Td (news, ) Tj ET Q q 0 0 0 rg BT 160.95 96.90 Td (current ) Tj ET Q q 0 0 0 rg BT 185.30 96.90 Td (af) Tj ET Q q 0 0 0 rg BT 191.37 96.90 Td (fairs, ) Tj ET Q q 0 0 0 rg BT 209.29 96.90 Td (fiction, ) Tj ET Q q 0 0 0 rg BT 233.88 96.90 Td (and ) Tj ET Q q 0 0 0 rg BT 247.13 96.90 Td (reality ) Tj ET Q q 0 0 0 rg BT 269.26 96.90 Td (and ) Tj ET Q q 0 0 0 rg BT 282.52 96.90 Td (entertainment ) Tj ET Q q 0 0 0 rg BT 328.20 96.90 Td (shows ) Tj ET Q q 0 0 0 rg BT 349.91 96.90 Td (as ) Tj ET Q q 0 0 0 rg BT 358.27 96.90 Td (well ) Tj ET Q q 0 0 0 rg BT 373.75 96.90 Td (as ) Tj ET Q q 0 0 0 rg BT 382.11 96.90 Td (acquired ) Tj ET Q q 0 0 0 rg BT 411.36 96.90 Td (foreign ) Tj ET Q q 0 0 0 rg BT 436.16 96.90 Td (movies, ) Tj ET Q q 0 0 0 rg BT 462.97 96.90 Td (series ) Tj ET Q q 0 0 0 rg BT 482.89 96.90 Td (and ) Tj ET Q q 0 0 0 rg BT 496.14 96.90 Td (sports ) Tj ET Q q 0 0 0 rg BT 516.96 96.90 Td (programming. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 81.30 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 81.30 Td (e ) Tj ET Q q 0 0 0 rg BT 61.70 81.30 Td (focus ) Tj ET Q q 0 0 0 rg BT 80.77 81.30 Td (our ) Tj ET Q q 0 0 0 rg BT 93.17 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3 M 49.5 609.15 m 133.5 609.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 580.15 m 133.5 580.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 133.5 609.15 m 137.5 609.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 137.5 609.15 m 254.5 609.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 137.5 580.15 m 254.5 580.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 609.15 m 259.5 609.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 609.15 m 401.5 609.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 580.15 m 401.5 580.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 609.15 m 406.5 609.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 609.15 m 481.5 609.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 580.15 m 481.5 580.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 609.15 m 486.5 609.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 609.15 m 561.5 609.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 580.15 m 561.5 580.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 510.15 m 133.5 510.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 133.5 510.15 m 137.5 510.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 137.5 510.15 m 254.5 510.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 510.15 m 259.5 510.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 510.15 m 401.5 510.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 510.15 m 406.5 510.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 510.15 m 481.5 510.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 510.15 m 486.5 510.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 510.15 m 561.5 510.15 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 55.70 584.38 Td (Target Demographic) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 151.45 584.38 Td (Main Television Channels) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 311.10 584.38 Td (Ownership) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.05 592.38 Td (All day audience) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 422.55 584.38 Td (share \(2014\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 504.50 600.38 Td (Prime time) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 498.10 592.38 Td (audience share) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 512.80 584.38 Td (\(2014\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 79.00 554.40 Td (\(18-49\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 187.30 554.38 Td (BTV) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 320.65 554.38 Td (CME) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 432.50 554.38 Td (27.7%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 512.50 554.38 Td (32.9%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 178.45 539.40 Td (NOVA TV) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.10 539.40 Td (MTG) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.15 539.40 Td (17.2%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 513.15 539.40 Td (18.5%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 184.55 524.40 Td (BNT 1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 303.20 524.40 Td (Public television) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.15 524.40 Td (5.6%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.15 524.40 Td (7.0%) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 495.05 Td (Source: ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 75.94 495.05 Td (GARB) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 98.16 495.05 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 479.45 Td (The ) Tj ET Q q 0 0 0 rg BT 63.94 479.45 Td (combined ) Tj ET Q q 0 0 0 rg BT 97.48 479.45 Td (all ) Tj ET Q q 0 0 0 rg BT 107.48 479.45 Td (day ) Tj ET Q q 0 0 0 rg BT 121.03 479.45 Td (and ) Tj ET Q q 0 0 0 rg BT 134.58 479.45 Td (prime ) Tj ET Q q 0 0 0 rg BT 155.24 479.45 Td (time ) Tj ET Q q 0 0 0 rg BT 171.46 479.45 Td (audience ) Tj ET Q q 0 0 0 rg BT 201.89 479.45 Td (shares ) Tj ET Q q 0 0 0 rg BT 223.88 479.45 Td (of ) Tj ET Q q 0 0 0 rg BT 232.54 479.45 Td (our ) Tj ET Q q 0 0 0 rg BT 245.21 479.45 Td (Bulgaria ) Tj ET Q q 0 0 0 rg BT 274.75 479.45 Td (operations ) Tj ET Q q 0 0 0 rg BT 310.08 479.45 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 318.30 479.45 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 334.30 479.45 Td ( ) Tj ET Q q 0 0 0 rg BT 336.30 479.45 Td (was ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 350.74 479.45 Td (34.7%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.41 479.45 Td ( ) Tj ET Q q 0 0 0 rg BT 373.41 479.45 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.96 479.45 Td (39.1%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.62 479.45 Td (, ) Tj ET Q q 0 0 0 rg BT 411.62 479.45 Td (respectively) Tj ET Q q 0 0 0 rg BT 449.75 479.45 Td (.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 460.85 Td (Cr) Tj ET Q q 0 0 0 rg BT 57.65 460.85 Td (oatia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 445.25 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 445.25 Td (e ) Tj ET Q q 0 0 0 rg BT 61.96 445.25 Td (operate ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.50 445.25 Td (one) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.05 445.25 Td ( ) Tj ET Q q 0 0 0 rg BT 101.05 445.25 Td (general ) Tj ET Q q 0 0 0 rg BT 126.59 445.25 Td (entertainment ) Tj ET Q q 0 0 0 rg BT 172.57 445.25 Td (channel, ) Tj ET Q q 0 0 0 rg BT 201.45 445.25 Td (NOV) Tj ET Q q 0 0 0 rg BT 217.75 445.25 Td (A) Tj ET Q q 0 0 0 rg BT 223.08 445.25 Td ( ) Tj ET Q q 0 0 0 rg BT 224.94 445.25 Td (TV) Tj ET Q q 0 0 0 rg BT 235.46 445.25 Td ( ) Tj ET Q q 0 0 0 rg BT 237.46 445.25 Td (\(Croatia\) ) Tj ET Q q 0 0 0 rg BT 268.33 445.25 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 281.88 445.25 Td (three) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 297.87 445.25 Td ( ) Tj ET Q q 0 0 0 rg BT 299.87 445.25 Td (other ) Tj ET Q q 0 0 0 rg BT 318.31 445.25 Td (channels, ) Tj ET Q q 0 0 0 rg BT 350.30 445.25 Td (DOMA) Tj ET Q q 0 0 0 rg BT 374.30 445.25 Td ( ) Tj ET Q q 0 0 0 rg BT 376.30 445.25 Td (\(Croatia\), ) Tj ET Q q 0 0 0 rg BT 409.18 445.25 Td (NOV) Tj ET Q q 0 0 0 rg BT 425.48 445.25 Td (A) Tj ET Q q 0 0 0 rg BT 430.81 445.25 Td ( ) Tj ET Q q 0 0 0 rg BT 432.67 445.25 Td (WORLD ) Tj ET Q q 0 0 0 rg BT 464.00 445.25 Td (and ) Tj ET Q q 0 0 0 rg BT 477.55 445.25 Td (MINI ) Tj ET Q q 0 0 0 rg BT 497.62 445.25 Td (TV) Tj ET Q q 0 0 0 rg BT 507.25 445.25 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 390.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 133.50 390.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 137.50 390.75 117.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 390.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.50 390.75 142.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 390.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 390.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 390.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 390.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 360.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 133.50 360.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 137.50 360.75 117.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 360.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.50 360.75 142.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 360.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 360.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 360.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 360.75 75.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 434.75 m 133.5 434.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 405.75 m 133.5 405.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 133.5 434.75 m 137.5 434.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 137.5 434.75 m 254.5 434.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 137.5 405.75 m 254.5 405.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 434.75 m 259.5 434.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 434.75 m 401.5 434.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 405.75 m 401.5 405.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 434.75 m 406.5 434.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 434.75 m 481.5 434.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 405.75 m 481.5 405.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 434.75 m 486.5 434.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 434.75 m 561.5 434.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 405.75 m 561.5 405.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 335.75 m 133.5 335.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 133.5 335.75 m 137.5 335.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 137.5 335.75 m 254.5 335.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 335.75 m 259.5 335.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 335.75 m 401.5 335.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 335.75 m 406.5 335.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 335.75 m 481.5 335.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 335.75 m 486.5 335.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 335.75 m 561.5 335.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 55.70 409.98 Td (Target Demographic) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 151.45 409.98 Td (Main Television Channels) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 311.10 409.98 Td (Ownership) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.05 417.98 Td (All day audience) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 422.55 409.98 Td (share \(2014\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 504.50 425.98 Td (Prime time) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 498.10 417.98 Td (audience share) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 512.80 409.98 Td (\(2014\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 79.00 380.00 Td (\(18-54\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 163.50 379.98 Td (Nova TV \(Croatia\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 320.65 379.98 Td (CME) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 432.50 379.98 Td (21.8%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 512.50 379.98 Td (27.9%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 188.30 365.00 Td (RTL) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.80 365.00 Td (RTL) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.15 365.00 Td (15.6%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 513.15 365.00 Td (18.5%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 184.35 350.00 Td (HTV 1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 303.20 350.00 Td (Public television) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.15 350.00 Td (12.6%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 513.15 350.00 Td (10.3%) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 320.65 Td (Source: ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 75.50 320.65 Td (AGB Nielsen Media Research) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 172.58 320.65 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 305.05 Td (The ) Tj ET Q q 0 0 0 rg BT 64.41 305.05 Td (combined ) Tj ET Q q 0 0 0 rg BT 98.43 305.05 Td (all ) Tj ET Q q 0 0 0 rg BT 108.90 305.05 Td (day ) Tj ET Q q 0 0 0 rg BT 122.92 305.05 Td (and ) Tj ET Q q 0 0 0 rg BT 136.95 305.05 Td (prime ) Tj ET Q q 0 0 0 rg BT 158.08 305.05 Td (time ) Tj ET Q q 0 0 0 rg BT 174.77 305.05 Td (audience ) Tj ET Q q 0 0 0 rg BT 205.67 305.05 Td (shares ) Tj ET Q q 0 0 0 rg BT 228.13 305.05 Td (of ) Tj ET Q q 0 0 0 rg BT 237.27 305.05 Td (our ) Tj ET Q q 0 0 0 rg BT 250.41 305.05 Td (Croatia ) Tj ET Q q 0 0 0 rg BT 276.43 305.05 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 309.55 305.05 Td (operations ) Tj ET Q q 0 0 0 rg BT 345.35 305.05 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.04 305.05 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.04 305.05 Td (, ) Tj ET Q q 0 0 0 rg BT 374.52 305.05 Td (excluding ) Tj ET Q q 0 0 0 rg BT 408.54 305.05 Td (NOV) Tj ET Q q 0 0 0 rg BT 424.84 305.05 Td (A) Tj ET Q q 0 0 0 rg BT 430.17 305.05 Td ( ) Tj ET Q q 0 0 0 rg BT 432.47 305.05 Td (WORLD ) Tj ET Q q 0 0 0 rg BT 464.27 305.05 Td (and ) Tj ET Q q 0 0 0 rg BT 478.29 305.05 Td (MINI ) Tj ET Q q 0 0 0 rg BT 498.80 305.05 Td (TV) Tj ET Q q 0 0 0 rg BT 508.44 305.05 Td (, ) Tj ET Q q 0 0 0 rg BT 512.91 305.05 Td (was ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.82 305.05 Td (27.3%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 548.49 305.05 Td ( ) Tj ET Q q 0 0 0 rg BT 550.96 305.05 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 295.45 Td (34.5%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.16 295.45 Td (, ) Tj ET Q q 0 0 0 rg BT 74.16 295.45 Td (respectively) Tj ET Q q 0 0 0 rg BT 112.29 295.45 Td (.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 276.85 Td (Czech ) Tj ET Q q 0 0 0 rg BT 71.05 276.85 Td (Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 258.25 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 258.25 Td (e ) Tj ET Q q 0 0 0 rg BT 61.69 258.25 Td (operate ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.95 258.25 Td (one) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 98.50 258.25 Td ( ) Tj ET Q q 0 0 0 rg BT 100.22 258.25 Td (general ) Tj ET Q q 0 0 0 rg BT 125.49 258.25 Td (entertainment ) Tj ET Q q 0 0 0 rg BT 171.19 258.25 Td (channel, ) Tj ET Q q 0 0 0 rg BT 199.67 258.25 Td (TV) Tj ET Q q 0 0 0 rg BT 210.19 258.25 Td ( ) Tj ET Q q 0 0 0 rg BT 211.91 258.25 Td (NOV) Tj ET Q q 0 0 0 rg BT 228.21 258.25 Td (A) Tj ET Q q 0 0 0 rg BT 233.55 258.25 Td ( ) Tj ET Q q 0 0 0 rg BT 235.27 258.25 Td (\(Czech ) Tj ET Q q 0 0 0 rg BT 259.65 258.25 Td (Republic\), ) Tj ET Q q 0 0 0 rg BT 294.92 258.25 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 308.20 258.25 Td (five) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 320.64 258.25 Td ( ) Tj ET Q q 0 0 0 rg BT 322.36 258.25 Td (other ) Tj ET Q q 0 0 0 rg BT 340.52 258.25 Td (channels, ) Tj ET Q q 0 0 0 rg BT 372.23 258.25 Td (NOV) Tj ET Q q 0 0 0 rg BT 388.54 258.25 Td (A) Tj ET Q q 0 0 0 rg BT 393.87 258.25 Td ( ) Tj ET Q q 0 0 0 rg BT 395.60 258.25 Td (CINEMA, ) Tj ET Q q 0 0 0 rg BT 430.88 258.25 Td (NOV) Tj ET Q q 0 0 0 rg BT 447.18 258.25 Td (A) Tj ET Q q 0 0 0 rg BT 452.51 258.25 Td ( ) Tj ET Q q 0 0 0 rg BT 454.24 258.25 Td (SPOR) Tj ET Q q 0 0 0 rg BT 473.77 258.25 Td (T) Tj ET Q q 0 0 0 rg BT 478.06 258.25 Td (, ) Tj ET Q q 0 0 0 rg BT 481.79 258.25 Td (F) Tj ET Q q 0 0 0 rg BT 485.64 258.25 Td (ANDA, ) Tj ET Q q 0 0 0 rg BT 512.48 258.25 Td (SMICHOV) Tj ET Q q 0 0 0 rg BT 549.23 258.25 Td ( ) Tj ET Q q 0 0 0 rg BT 550.95 258.25 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 248.65 Td (TELKA.) 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0.9333333333333333 1 rg /GS0 gs 259.50 164.15 142.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 164.15 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 164.15 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 164.15 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 164.15 75.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 238.14999999999998 m 133.5 238.14999999999998 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 209.14999999999998 m 133.5 209.14999999999998 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 133.5 238.14999999999998 m 137.5 238.14999999999998 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 137.5 238.14999999999998 m 254.5 238.14999999999998 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 137.5 209.14999999999998 m 254.5 209.14999999999998 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 238.14999999999998 m 259.5 238.14999999999998 l s 0 0 0 RG 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ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 303.20 153.40 Td (Public television) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.15 153.40 Td (12.3%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 513.15 153.40 Td (14.4%) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 124.05 Td (Source: ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 75.50 124.05 Td (A) Tj ET Q q 0 0 0 rg BT 80.39 124.05 Td (T) Tj ET Q q 0 0 0 rg BT 85.13 124.05 Td (O-Mediaresearch) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 140.65 124.05 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 108.45 Td (The ) Tj ET Q q 0 0 0 rg BT 64.37 108.45 Td (combined ) Tj ET Q q 0 0 0 rg BT 98.35 108.45 Td (all ) Tj ET Q q 0 0 0 rg BT 108.77 108.45 Td (day ) Tj ET Q q 0 0 0 rg BT 122.75 108.45 Td (and ) Tj ET Q q 0 0 0 rg BT 136.74 108.45 Td (prime ) Tj ET Q q 0 0 0 rg BT 157.83 108.45 Td (time ) Tj ET Q q 0 0 0 rg BT 174.48 108.45 Td (audience ) Tj ET Q q 0 0 0 rg BT 205.33 108.45 Td (shares ) Tj ET Q q 0 0 0 rg BT 227.75 108.45 Td (of ) Tj ET Q q 0 0 0 rg BT 236.85 108.45 Td (our ) Tj ET Q q 0 0 0 rg BT 249.94 108.45 Td (Czech ) Tj ET Q q 0 0 0 rg BT 272.36 108.45 Td (Republic ) Tj ET Q q 0 0 0 rg BT 303.68 108.45 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 336.76 108.45 Td (operations ) Tj ET Q q 0 0 0 rg BT 372.51 108.45 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.17 108.45 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.17 108.45 Td (, ) Tj ET Q q 0 0 0 rg BT 401.60 108.45 Td (excluding ) Tj ET Q q 0 0 0 rg BT 435.58 108.45 Td (NOV) Tj ET Q q 0 0 0 rg BT 451.88 108.45 Td (A) Tj ET Q q 0 0 0 rg BT 457.21 108.45 Td ( ) Tj ET Q q 0 0 0 rg BT 459.64 108.45 Td (SPOR) Tj ET Q q 0 0 0 rg BT 479.17 108.45 Td (T) Tj ET Q q 0 0 0 rg BT 483.47 108.45 Td (, ) Tj ET Q q 0 0 0 rg BT 487.90 108.45 Td (was ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.77 108.45 Td (36.2%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.43 108.45 Td ( ) Tj ET Q q 0 0 0 rg BT 525.87 108.45 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.85 108.45 Td (40.8%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 560.51 108.45 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 98.85 Td (respectively) Tj ET Q q 0 0 0 rg BT 87.63 98.85 Td (.) 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558.05 Td (combined ) Tj ET Q q 0 0 0 rg BT 96.62 558.05 Td (all ) Tj ET Q q 0 0 0 rg BT 106.19 558.05 Td (day ) Tj ET Q q 0 0 0 rg BT 119.31 558.05 Td (and ) Tj ET Q q 0 0 0 rg BT 132.43 558.05 Td (prime ) Tj ET Q q 0 0 0 rg BT 152.66 558.05 Td (time ) Tj ET Q q 0 0 0 rg BT 168.45 558.05 Td (audience ) Tj ET Q q 0 0 0 rg BT 198.44 558.05 Td (shares ) Tj ET Q q 0 0 0 rg BT 220.00 558.05 Td (of ) Tj ET Q q 0 0 0 rg BT 228.24 558.05 Td (our ) Tj ET Q q 0 0 0 rg BT 240.47 558.05 Td (Romania ) Tj ET Q q 0 0 0 rg BT 270.92 558.05 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 303.14 558.05 Td (operations ) Tj ET Q q 0 0 0 rg BT 338.04 558.05 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 345.83 558.05 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 361.83 558.05 Td (, ) Tj ET Q q 0 0 0 rg BT 365.40 558.05 Td (excluding ) Tj ET Q q 0 0 0 rg BT 398.51 558.05 Td (PRO ) Tj ET Q q 0 0 0 rg BT 415.53 558.05 Td (TV) Tj ET Q q 0 0 0 rg BT 426.05 558.05 Td ( ) Tj ET Q q 0 0 0 rg BT 427.62 558.05 Td (INTERNA) Tj ET Q q 0 0 0 rg BT 461.84 558.05 Td (TIONAL, ) Tj ET Q q 0 0 0 rg BT 495.18 558.05 Td (PRO ) Tj ET Q q 0 0 0 rg BT 512.20 558.05 Td (TV) Tj ET Q q 0 0 0 rg BT 522.72 558.05 Td ( ) Tj ET Q q 0 0 0 rg BT 524.29 558.05 Td (CHISINAU ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 548.45 Td (and ) Tj ET Q q 0 0 0 rg BT 62.61 548.45 Td (ACASA) Tj ET Q q 0 0 0 rg BT 89.29 548.45 Td ( ) Tj ET Q q 0 0 0 rg BT 91.29 548.45 Td (IN ) Tj ET Q q 0 0 0 rg BT 101.73 548.45 Td (MOLDOV) Tj ET Q q 0 0 0 rg BT 135.80 548.45 Td (A, ) Tj ET Q q 0 0 0 rg BT 145.58 548.45 Td (was ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 160.02 548.45 Td (24.9%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 180.69 548.45 Td ( ) Tj ET Q q 0 0 0 rg BT 182.69 548.45 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 196.24 548.45 Td (30.3%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 216.90 548.45 Td (, ) Tj ET Q q 0 0 0 rg BT 220.90 548.45 Td (respectively) Tj ET Q q 0 0 0 rg BT 259.03 548.45 Td (.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 529.85 Td (Slovak Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 514.25 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 514.25 Td (e ) Tj ET Q q 0 0 0 rg BT 61.96 514.25 Td (operate ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.50 514.25 Td (one) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.05 514.25 Td ( ) Tj ET Q q 0 0 0 rg BT 101.05 514.25 Td (general ) Tj ET Q q 0 0 0 rg BT 126.59 514.25 Td (entertainment ) Tj ET Q q 0 0 0 rg BT 172.57 514.25 Td (channel, ) Tj ET Q q 0 0 0 rg BT 201.30 514.25 Td (TV) Tj ET Q q 0 0 0 rg BT 211.82 514.25 Td ( ) Tj ET Q q 0 0 0 rg BT 213.82 514.25 Td (MARKIZA, ) Tj ET Q q 0 0 0 rg BT 255.15 514.25 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 268.70 514.25 Td (two) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.70 514.25 Td ( ) Tj ET Q q 0 0 0 rg BT 282.70 514.25 Td (other ) Tj ET Q q 0 0 0 rg BT 301.14 514.25 Td (channels, ) Tj ET Q q 0 0 0 rg BT 333.13 514.25 Td (DOMA) Tj ET Q q 0 0 0 rg BT 357.13 514.25 Td ( ) Tj ET Q q 0 0 0 rg BT 359.13 514.25 Td (\(Slovak ) Tj ET Q q 0 0 0 rg BT 386.02 514.25 Td (Republic\) ) Tj ET Q q 0 0 0 rg BT 419.57 514.25 Td (and ) Tj ET Q q 0 0 0 rg BT 433.12 514.25 Td (DAJT) Tj ET Q q 0 0 0 rg BT 452.53 514.25 Td (O.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 459.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 133.50 459.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 137.50 459.75 117.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 459.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.50 459.75 142.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 459.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 459.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 459.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 459.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 429.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 133.50 429.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 137.50 429.75 117.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 429.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.50 429.75 142.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 429.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 429.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 429.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 429.75 75.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 503.75 m 133.5 503.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 474.75 m 133.5 474.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 133.5 503.75 m 137.5 503.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 137.5 503.75 m 254.5 503.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 137.5 474.75 m 254.5 474.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 503.75 m 259.5 503.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 503.75 m 401.5 503.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 474.75 m 401.5 474.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 503.75 m 406.5 503.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 503.75 m 481.5 503.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 474.75 m 481.5 474.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 503.75 m 486.5 503.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 503.75 m 561.5 503.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 474.75 m 561.5 474.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 404.75 m 133.5 404.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 133.5 404.75 m 137.5 404.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 137.5 404.75 m 254.5 404.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 404.75 m 259.5 404.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 404.75 m 401.5 404.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 404.75 m 406.5 404.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 404.75 m 481.5 404.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 404.75 m 486.5 404.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 404.75 m 561.5 404.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 55.70 478.98 Td (Target Demographic) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 151.45 478.98 Td (Main Television Channels) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 311.10 478.98 Td (Ownership) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.05 486.98 Td (All day audience) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 422.55 478.98 Td (share \(2014\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 504.50 494.98 Td (Prime time) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 498.10 486.98 Td (audience share) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 512.80 478.98 Td (\(2014\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 79.00 449.00 Td (\(12-54\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 169.45 448.98 Td (TV MARKIZA) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 320.65 448.98 Td (CME) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 432.50 448.98 Td (24.7%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 512.50 448.98 Td (26.9%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 183.20 434.00 Td (TV JOJ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.70 434.00 Td (J&T Media Enterprises) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.15 434.00 Td (16.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 513.15 434.00 Td (18.7%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 185.00 419.00 Td (STV 1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.20 419.00 Td (Public Television) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.15 419.00 Td (7.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.15 419.00 Td (8.1%) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 389.65 Td (Source: ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 75.94 389.65 Td (PMT/ ) Tj ET Q q 0 0 0 rg BT 96.46 389.65 Td (TNS ) Tj ET Q q 0 0 0 rg BT 113.58 389.65 Td (SK) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 123.80 389.65 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 374.05 Td (The ) Tj ET Q q 0 0 0 rg BT 63.94 374.05 Td (combined ) Tj ET Q q 0 0 0 rg BT 97.48 374.05 Td (all ) Tj ET Q q 0 0 0 rg BT 107.48 374.05 Td (day ) Tj ET Q q 0 0 0 rg BT 121.03 374.05 Td (and ) Tj ET Q q 0 0 0 rg BT 134.58 374.05 Td (prime ) Tj ET Q q 0 0 0 rg BT 155.24 374.05 Td (time ) Tj ET Q q 0 0 0 rg BT 171.46 374.05 Td (audience ) Tj ET Q q 0 0 0 rg BT 201.89 374.05 Td (shares ) Tj ET Q q 0 0 0 rg BT 223.88 374.05 Td (of ) Tj ET Q q 0 0 0 rg BT 232.54 374.05 Td (our ) Tj ET Q q 0 0 0 rg BT 245.21 374.05 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 269.43 374.05 Td (Republic ) Tj ET Q q 0 0 0 rg BT 300.31 374.05 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 332.96 374.05 Td (operations ) Tj ET Q q 0 0 0 rg BT 368.29 374.05 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.51 374.05 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.51 374.05 Td ( ) Tj ET Q q 0 0 0 rg BT 394.51 374.05 Td (was ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.95 374.05 Td (33.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.62 374.05 Td ( ) Tj ET Q q 0 0 0 rg BT 431.62 374.05 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 445.17 374.05 Td (35.3%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.83 374.05 Td (, ) Tj ET Q q 0 0 0 rg BT 469.83 374.05 Td (respectively) Tj ET Q q 0 0 0 rg BT 507.96 374.05 Td (.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 355.45 Td (Slovenia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 339.85 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 339.85 Td (e ) Tj ET Q q 0 0 0 rg BT 61.96 339.85 Td (operate ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.50 339.85 Td (two) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.50 339.85 Td ( ) Tj ET Q q 0 0 0 rg BT 101.50 339.85 Td (general ) Tj ET Q q 0 0 0 rg BT 127.04 339.85 Td (entertainment ) Tj ET Q q 0 0 0 rg BT 173.02 339.85 Td (channels, ) Tj ET Q q 0 0 0 rg BT 205.01 339.85 Td (POP) Tj ET Q q 0 0 0 rg BT 219.39 339.85 Td ( ) Tj ET Q q 0 0 0 rg BT 221.24 339.85 Td (TV) Tj ET Q q 0 0 0 rg BT 231.76 339.85 Td ( ) Tj ET Q q 0 0 0 rg BT 233.76 339.85 Td (and ) Tj ET Q q 0 0 0 rg BT 247.31 339.85 Td (KANAL) Tj ET Q q 0 0 0 rg BT 275.01 339.85 Td ( ) Tj ET Q q 0 0 0 rg BT 276.57 339.85 Td (A, ) Tj ET Q q 0 0 0 rg BT 286.35 339.85 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.90 339.85 Td (three) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 315.89 339.85 Td ( ) Tj ET Q q 0 0 0 rg BT 317.89 339.85 Td (other ) Tj ET Q q 0 0 0 rg BT 336.32 339.85 Td (channels, ) Tj ET Q q 0 0 0 rg BT 368.31 339.85 Td (KINO, ) Tj ET Q q 0 0 0 rg BT 392.31 339.85 Td (BRIO ) Tj ET Q q 0 0 0 rg BT 413.42 339.85 Td (and ) Tj ET Q q 0 0 0 rg BT 426.97 339.85 Td (OT) Tj ET Q q 0 0 0 rg BT 437.49 339.85 Td (O.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 285.35 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 133.50 285.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 137.50 285.35 117.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 285.35 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.50 285.35 142.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 285.35 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 285.35 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 285.35 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 285.35 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 255.35 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 133.50 255.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 137.50 255.35 117.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 255.35 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.50 255.35 142.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 255.35 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 255.35 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 255.35 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 255.35 75.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 329.35 m 133.5 329.35 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 300.35 m 133.5 300.35 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 133.5 329.35 m 137.5 329.35 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 137.5 329.35 m 254.5 329.35 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 137.5 300.35 m 254.5 300.35 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 329.35 m 259.5 329.35 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 329.35 m 401.5 329.35 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 300.35 m 401.5 300.35 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 329.35 m 406.5 329.35 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 329.35 m 481.5 329.35 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 300.35 m 481.5 300.35 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 329.35 m 486.5 329.35 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 329.35 m 561.5 329.35 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 300.35 m 561.5 300.35 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 230.35000000000002 m 133.5 230.35000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 133.5 230.35000000000002 m 137.5 230.35000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 137.5 230.35000000000002 m 254.5 230.35000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 230.35000000000002 m 259.5 230.35000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 230.35000000000002 m 401.5 230.35000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 230.35000000000002 m 406.5 230.35000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 230.35000000000002 m 481.5 230.35000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 230.35000000000002 m 486.5 230.35000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 230.35000000000002 m 561.5 230.35000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 55.70 304.58 Td (Target Demographic) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 151.45 304.58 Td (Main Television Channels) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 311.10 304.58 Td (Ownership) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.05 312.58 Td (All day audience) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 422.55 304.58 Td (share \(2014\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 504.50 320.58 Td (Prime time) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 498.10 312.58 Td (audience share) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 512.80 304.58 Td (\(2014\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 79.00 274.60 Td (\(18-54\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 181.30 274.58 Td (POP TV) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 320.65 274.58 Td (CME) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 432.50 274.58 Td (20.2%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 512.50 274.58 Td (28.7%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 184.90 259.60 Td (SLO 1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.20 259.60 Td (Public Television) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.15 259.60 Td (9.7%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 513.15 259.60 Td (11.3%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 179.30 244.60 Td (Planet TV) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 287.70 244.60 Td (Antenna Group / TSmedia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.15 244.60 Td (7.1%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.15 244.60 Td (8.5%) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 215.25 Td (Source: ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 75.50 215.25 Td (AGB ) Tj ET Q q 0 0 0 rg BT 94.39 215.25 Td (Nielsen ) Tj ET Q q 0 0 0 rg BT 120.82 215.25 Td (Media ) Tj ET Q q 0 0 0 rg BT 143.26 215.25 Td (Research) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 172.58 215.25 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 199.65 Td (The ) Tj ET Q q 0 0 0 rg BT 63.94 199.65 Td (combined ) Tj ET Q q 0 0 0 rg BT 97.48 199.65 Td (all ) Tj ET Q q 0 0 0 rg BT 107.48 199.65 Td (day ) Tj ET Q q 0 0 0 rg BT 121.03 199.65 Td (and ) Tj ET Q q 0 0 0 rg BT 134.58 199.65 Td (prime ) Tj ET Q q 0 0 0 rg BT 155.24 199.65 Td (time ) Tj ET Q q 0 0 0 rg BT 171.46 199.65 Td (audience ) Tj ET Q q 0 0 0 rg BT 201.89 199.65 Td (shares ) Tj ET Q q 0 0 0 rg BT 223.88 199.65 Td (of ) Tj ET Q q 0 0 0 rg BT 232.54 199.65 Td (our ) Tj ET Q q 0 0 0 rg BT 245.21 199.65 Td (Slovenia ) Tj ET Q q 0 0 0 rg BT 275.20 199.65 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 307.86 199.65 Td (operations ) Tj ET Q q 0 0 0 rg BT 343.18 199.65 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.40 199.65 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.40 199.65 Td ( ) Tj ET Q q 0 0 0 rg BT 369.40 199.65 Td (was ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 383.84 199.65 Td (35.1%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.51 199.65 Td ( ) Tj ET Q q 0 0 0 rg BT 406.51 199.65 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.06 199.65 Td (43.5%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.72 199.65 Td (, ) Tj ET Q q 0 0 0 rg BT 444.72 199.65 Td (respectively) Tj ET Q q 0 0 0 rg BT 482.85 199.65 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 181.05 Td (Sales) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 165.45 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 165.45 Td (e ) Tj ET Q q 0 0 0 rg BT 62.64 165.45 Td (generate ) Tj ET Q q 0 0 0 rg BT 92.41 165.45 Td (advertising ) Tj ET Q q 0 0 0 rg BT 130.64 165.45 Td (revenues ) Tj ET Q q 0 0 0 rg BT 161.75 165.45 Td (primarily ) Tj ET Q q 0 0 0 rg BT 194.20 165.45 Td (through ) Tj ET Q q 0 0 0 rg BT 221.76 165.45 Td (entering ) Tj ET Q q 0 0 0 rg BT 250.65 165.45 Td (into ) Tj ET Q q 0 0 0 rg BT 265.78 165.45 Td (agreements ) Tj ET Q q 0 0 0 rg BT 304.88 165.45 Td (with ) Tj ET Q q 0 0 0 rg BT 321.79 165.45 Td (advertisers, ) Tj ET Q q 0 0 0 rg BT 361.12 165.45 Td (advertising ) Tj ET Q q 0 0 0 rg BT 399.34 165.45 Td (agencies ) Tj ET Q q 0 0 0 rg BT 429.56 165.45 Td (and ) Tj ET Q q 0 0 0 rg BT 443.79 165.45 Td (sponsors ) Tj ET Q q 0 0 0 rg BT 474.48 165.45 Td (to ) Tj ET Q q 0 0 0 rg BT 483.38 165.45 Td (place ) Tj ET Q q 0 0 0 rg BT 502.93 165.45 Td (advertising ) Tj ET Q q 0 0 0 rg BT 541.16 165.45 Td (on ) Tj ET Q q 0 0 0 rg BT 551.84 165.45 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 155.85 Td (television ) Tj ET Q q 0 0 0 rg BT 82.61 155.85 Td (channels.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 140.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 63.84 140.25 Td (main ) Tj ET Q q 0 0 0 rg BT 81.73 140.25 Td (unit ) Tj ET Q q 0 0 0 rg BT 96.07 140.25 Td (of ) Tj ET Q q 0 0 0 rg BT 104.63 140.25 Td (inventory ) Tj ET Q q 0 0 0 rg BT 137.18 140.25 Td (is ) Tj ET Q q 0 0 0 rg BT 144.41 140.25 Td (the ) Tj ET Q q 0 0 0 rg BT 156.08 140.25 Td (commercial ) Tj ET Q q 0 0 0 rg BT 195.73 140.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 214.52 140.25 Td (rating ) Tj ET Q q 0 0 0 rg BT 235.07 140.25 Td (point ) Tj ET Q q 0 0 0 rg BT 253.41 140.25 Td (\(GRP\), ) Tj ET Q q 0 0 0 rg BT 285.30 140.25 Td (a ) Tj ET Q q 0 0 0 rg BT 290.74 140.25 Td (measure ) Tj ET Q q 0 0 0 rg BT 319.29 140.25 Td (of ) Tj ET Q q 0 0 0 rg BT 327.85 140.25 Td (the ) Tj ET Q q 0 0 0 rg BT 339.52 140.25 Td (number ) Tj ET Q q 0 0 0 rg BT 365.85 140.25 Td (of ) Tj ET Q q 0 0 0 rg BT 374.41 140.25 Td (people ) Tj ET Q q 0 0 0 rg BT 397.63 140.25 Td (watching ) Tj ET Q q 0 0 0 rg BT 428.84 140.25 Td (television ) Tj ET Q q 0 0 0 rg BT 461.84 140.25 Td (when ) Tj ET Q q 0 0 0 rg BT 481.07 140.25 Td (an ) Tj ET Q q 0 0 0 rg BT 490.51 140.25 Td (advertisement ) Tj ET Q q 0 0 0 rg BT 537.28 140.25 Td (is ) Tj ET Q q 0 0 0 rg BT 544.51 140.25 Td (aired. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 130.65 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 130.65 Td (e ) Tj ET Q q 0 0 0 rg BT 61.89 130.65 Td (generally ) Tj ET Q q 0 0 0 rg BT 93.58 130.65 Td (contract ) Tj ET Q q 0 0 0 rg BT 121.27 130.65 Td (with ) Tj ET Q q 0 0 0 rg BT 137.43 130.65 Td (a ) Tj ET Q q 0 0 0 rg BT 142.91 130.65 Td (client ) Tj ET Q q 0 0 0 rg BT 162.61 130.65 Td (to ) Tj ET Q q 0 0 0 rg BT 170.76 130.65 Td (provide ) Tj ET Q q 0 0 0 rg BT 197.13 130.65 Td (an ) Tj ET Q q 0 0 0 rg BT 206.61 130.65 Td (agreed ) Tj ET Q q 0 0 0 rg BT 229.85 130.65 Td (number ) Tj ET Q q 0 0 0 rg BT 256.22 130.65 Td (of ) Tj ET Q q 0 0 0 rg BT 264.81 130.65 Td (GRPs ) Tj ET Q q 0 0 0 rg BT 285.42 130.65 Td (for ) Tj ET Q q 0 0 0 rg BT 296.68 130.65 Td (an ) Tj ET Q q 0 0 0 rg BT 306.16 130.65 Td (agreed ) Tj ET Q q 0 0 0 rg BT 329.40 130.65 Td (price ) Tj ET Q q 0 0 0 rg BT 347.32 130.65 Td (\(cost ) Tj ET Q q 0 0 0 rg BT 368.35 130.65 Td (per ) Tj ET Q q 0 0 0 rg BT 380.50 130.65 Td (point ) Tj ET Q q 0 0 0 rg BT 402.42 130.65 Td (or ) Tj ET Q q 0 0 0 rg BT 411.02 130.65 Td (CPP\). ) Tj ET Q q 0 0 0 rg BT 438.95 130.65 Td (Much ) Tj ET Q q 0 0 0 rg BT 459.54 130.65 Td (less ) Tj ET Q q 0 0 0 rg BT 473.47 130.65 Td (frequently) Tj ET Q q 0 0 0 rg BT 505.82 130.65 Td (, ) Tj ET Q q 0 0 0 rg BT 509.75 130.65 Td (and ) Tj ET Q q 0 0 0 rg BT 523.23 130.65 Td (usually ) Tj ET Q q 0 0 0 rg BT 548.27 130.65 Td (only ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 121.05 Td (for ) Tj ET Q q 0 0 0 rg BT 61.08 121.05 Td (small ) Tj ET Q q 0 0 0 rg BT 80.67 121.05 Td (niche ) Tj ET Q q 0 0 0 rg BT 100.25 121.05 Td (channels, ) Tj ET Q q 0 0 0 rg BT 132.50 121.05 Td (we ) Tj ET Q q 0 0 0 rg BT 144.08 121.05 Td (may ) Tj ET Q q 0 0 0 rg BT 160.11 121.05 Td (sell ) Tj ET Q q 0 0 0 rg BT 173.47 121.05 Td (on ) Tj ET Q q 0 0 0 rg BT 183.73 121.05 Td (a ) Tj ET Q q 0 0 0 rg BT 189.54 121.05 Td (fixed ) Tj ET Q q 0 0 0 rg BT 208.23 121.05 Td (spot ) Tj ET Q q 0 0 0 rg BT 223.82 121.05 Td (basis ) Tj ET Q q 0 0 0 rg BT 242.08 121.05 Td (where ) Tj ET Q q 0 0 0 rg BT 263.88 121.05 Td (an ) Tj ET Q q 0 0 0 rg BT 273.68 121.05 Td (advertisement ) Tj ET Q q 0 0 0 rg BT 320.81 121.05 Td (is ) Tj ET Q q 0 0 0 rg BT 328.40 121.05 Td (placed ) Tj ET Q q 0 0 0 rg BT 351.53 121.05 Td (at ) Tj ET Q q 0 0 0 rg BT 359.56 121.05 Td (an ) Tj ET Q q 0 0 0 rg BT 369.37 121.05 Td (agreed ) Tj ET Q q 0 0 0 rg BT 392.94 121.05 Td (time ) Tj ET Q q 0 0 0 rg BT 409.42 121.05 Td (for ) Tj ET Q q 0 0 0 rg BT 421.00 121.05 Td (a ) Tj ET Q q 0 0 0 rg BT 426.81 121.05 Td (negotiated ) Tj ET Q q 0 0 0 rg BT 462.38 121.05 Td (price ) Tj ET Q q 0 0 0 rg BT 480.63 121.05 Td (that ) Tj ET Q q 0 0 0 rg BT 494.88 121.05 Td (is ) Tj ET Q q 0 0 0 rg BT 502.47 121.05 Td (independent ) Tj ET Q q 0 0 0 rg BT 543.82 121.05 Td (of ) Tj ET Q q 0 0 0 rg BT 552.74 121.05 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 111.45 Td (number ) Tj ET Q q 0 0 0 rg BT 76.50 111.45 Td (of ) Tj ET Q q 0 0 0 rg BT 85.73 111.45 Td (viewers. ) Tj ET Q q 0 0 0 rg BT 114.98 111.45 Td (The ) Tj ET Q q 0 0 0 rg BT 129.98 111.45 Td (CPP) Tj ET Q q 0 0 0 rg BT 143.92 111.45 Td ( ) Tj ET Q q 0 0 0 rg BT 146.48 111.45 Td (varies ) Tj ET Q q 0 0 0 rg BT 168.15 111.45 Td (depending ) Tj ET Q q 0 0 0 rg BT 204.03 111.45 Td (on ) Tj ET Q q 0 0 0 rg BT 214.60 111.45 Td (the ) Tj ET Q q 0 0 0 rg BT 226.93 111.45 Td (season ) Tj ET Q q 0 0 0 rg BT 250.82 111.45 Td (and ) Tj ET Q q 0 0 0 rg BT 264.94 111.45 Td (time ) Tj ET Q q 0 0 0 rg BT 281.72 111.45 Td (of ) Tj ET Q q 0 0 0 rg BT 290.94 111.45 Td (day ) Tj ET Q q 0 0 0 rg BT 305.06 111.45 Td (the ) Tj ET Q q 0 0 0 rg BT 317.39 111.45 Td (advertisement ) Tj ET Q q 0 0 0 rg BT 364.83 111.45 Td (is ) Tj ET Q q 0 0 0 rg BT 372.73 111.45 Td (aired, ) Tj ET Q q 0 0 0 rg BT 393.28 111.45 Td (the ) Tj ET Q q 0 0 0 rg BT 405.61 111.45 Td (volume ) Tj ET Q q 0 0 0 rg BT 432.17 111.45 Td (of ) Tj ET Q q 0 0 0 rg BT 441.40 111.45 Td (GRPs ) Tj ET Q q 0 0 0 rg BT 462.64 111.45 Td (purchased, ) Tj ET Q q 0 0 0 rg BT 499.63 111.45 Td (requests ) Tj ET Q q 0 0 0 rg BT 528.40 111.45 Td (for ) Tj ET Q q 0 0 0 rg BT 540.30 111.45 Td (special ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 101.85 Td (positioning ) Tj ET Q q 0 0 0 rg BT 87.84 101.85 Td (of ) Tj ET Q q 0 0 0 rg BT 96.85 101.85 Td (the ) Tj ET Q q 0 0 0 rg BT 108.96 101.85 Td (advertisement, ) Tj ET Q q 0 0 0 rg BT 158.17 101.85 Td (the ) Tj ET Q q 0 0 0 rg BT 170.29 101.85 Td (demographic ) Tj ET Q q 0 0 0 rg BT 214.39 101.85 Td (group ) Tj ET Q q 0 0 0 rg BT 235.39 101.85 Td (that ) Tj ET Q q 0 0 0 rg BT 249.73 101.85 Td (the ) Tj ET Q q 0 0 0 rg BT 261.84 101.85 Td (advertisement ) Tj ET Q q 0 0 0 rg BT 309.05 101.85 Td (is ) Tj ET Q q 0 0 0 rg BT 316.73 101.85 Td (tar) Tj ET Q q 0 0 0 rg BT 325.02 101.85 Td (geting ) Tj ET Q q 0 0 0 rg BT 347.36 101.85 Td (and ) Tj ET Q q 0 0 0 rg BT 361.25 101.85 Td (other ) Tj ET Q q 0 0 0 rg BT 380.02 101.85 Td (factors. ) Tj ET Q q 0 0 0 rg BT 406.13 101.85 Td (Our ) Tj ET Q q 0 0 0 rg BT 420.91 101.85 Td (lar) Tj ET Q q 0 0 0 rg BT 429.20 101.85 Td (ger ) Tj ET Q q 0 0 0 rg BT 441.76 101.85 Td (advertising ) Tj ET Q q 0 0 0 rg BT 479.64 101.85 Td (customers ) Tj ET Q q 0 0 0 rg BT 514.42 101.85 Td (generally ) Tj ET Q q 0 0 0 rg BT 546.52 101.85 Td (enter ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 92.25 Td (into ) Tj ET Q q 0 0 0 rg BT 63.95 92.25 Td (annual ) Tj ET Q q 0 0 0 rg BT 87.27 92.25 Td (contracts ) Tj ET Q q 0 0 0 rg BT 118.14 92.25 Td (and ) Tj ET Q q 0 0 0 rg BT 131.70 92.25 Td (set ) Tj ET Q q 0 0 0 rg BT 142.58 92.25 Td (the ) Tj ET Q q 0 0 0 rg BT 154.36 92.25 Td (pricing ) Tj ET Q q 0 0 0 rg BT 179.02 92.25 Td (for ) Tj ET Q q 0 0 0 rg BT 190.34 92.25 Td (a ) Tj ET Q q 0 0 0 rg BT 195.89 92.25 Td (committed ) Tj ET Q q 0 0 0 rg BT 232.11 92.25 Td (volume ) Tj ET Q q 0 0 0 rg BT 258.11 92.25 Td (of ) Tj ET Q q 0 0 0 rg BT 266.77 92.25 Td (GRPs.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 76.65 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 76.65 Td (e ) Tj ET Q q 0 0 0 rg BT 61.81 76.65 Td (operate ) Tj ET Q q 0 0 0 rg BT 87.21 76.65 Td (our ) Tj ET Q q 0 0 0 rg BT 99.72 76.65 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 132.23 76.65 Td (operations ) Tj ET Q q 0 0 0 rg BT 167.41 76.65 Td (based ) Tj ET Q q 0 0 0 rg BT 187.48 76.65 Td (on ) Tj ET Q q 0 0 0 rg BT 197.33 76.65 Td (a ) Tj ET Q q 0 0 0 rg BT 202.73 76.65 Td (business ) Tj ET Q q 0 0 0 rg BT 231.70 76.65 Td (model ) Tj ET Q q 0 0 0 rg BT 253.55 76.65 Td (of ) Tj ET Q q 0 0 0 rg BT 262.07 76.65 Td (audience ) Tj ET Q q 0 0 0 rg BT 292.35 76.65 Td (leadership, ) Tj ET Q q 0 0 0 rg BT 329.08 76.65 Td (brand ) Tj ET Q q 0 0 0 rg BT 349.14 76.65 Td (strength ) Tj ET Q q 0 0 0 rg BT 376.77 76.65 Td (and ) Tj ET Q q 0 0 0 rg BT 390.18 76.65 Td (strong ) Tj ET Q q 0 0 0 rg BT 412.03 76.65 Td (local ) Tj ET Q q 0 0 0 rg BT 429.43 76.65 Td (content. ) Tj ET Q q 0 0 0 rg BT 456.83 76.65 Td (Our ) Tj ET Q q 0 0 0 rg BT 471.13 76.65 Td (sales ) Tj ET Q q 0 0 0 rg BT 488.53 76.65 Td (strategy ) Tj ET Q q 0 0 0 rg BT 515.71 76.65 Td (is ) Tj ET Q q 0 0 0 rg BT 522.90 76.65 Td (to ) Tj ET Q q 0 0 0 rg BT 530.97 76.65 Td (maximize ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 67.05 Td (the ) Tj ET Q q 0 0 0 rg BT 61.63 67.05 Td (monetization ) Tj ET Q q 0 0 0 rg BT 105.76 67.05 Td (of ) Tj ET Q q 0 0 0 rg BT 114.79 67.05 Td (our ) Tj ET Q q 0 0 0 rg BT 127.81 67.05 Td (inventory ) Tj ET Q q 0 0 0 rg BT 160.83 67.05 Td (by ) Tj ET Q q 0 0 0 rg BT 171.20 67.05 Td (leveraging ) Tj ET Q q 0 0 0 rg BT 207.32 67.05 Td (our ) Tj ET Q q 0 0 0 rg BT 220.34 67.05 Td (high ) Tj ET Q q 0 0 0 rg BT 236.93 67.05 Td (brand ) Tj ET Q q 0 0 0 rg BT 257.50 67.05 Td (power ) Tj ET Q q 0 0 0 rg BT 279.86 67.05 Td (and ) Tj ET Q q 0 0 0 rg BT 293.77 67.05 Td (applying ) Tj ET Q q 0 0 0 rg BT 324.13 67.05 Td (an ) Tj ET Q q 0 0 0 rg BT 334.04 67.05 Td (optimal ) Tj ET Q q 0 0 0 rg BT 360.84 67.05 Td (mix ) Tj ET Q q 0 0 0 rg BT 375.65 67.05 Td (of ) Tj ET Q q 0 0 0 rg BT 384.67 67.05 Td (pricing ) Tj ET Q q 0 0 0 rg BT 409.70 67.05 Td (and ) Tj ET Q q 0 0 0 rg BT 423.61 67.05 Td (sell-out ) Tj ET Q q 0 0 0 rg BT 449.96 67.05 Td (rate. ) Tj ET Q q 0 0 0 rg BT 466.14 67.05 Td (The ) Tj ET Q q 0 0 0 rg BT 480.94 67.05 Td (ef) Tj ET Q q 0 0 0 rg BT 487.01 67.05 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 524.91 67.05 Td (of ) Tj ET Q q 0 0 0 rg BT 533.94 67.05 Td (our ) Tj ET Q q 0 0 0 rg BT 546.96 67.05 Td (sales ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 57.45 Td (strategy ) Tj ET Q q 0 0 0 rg BT 76.18 57.45 Td (is ) Tj ET Q q 0 0 0 rg BT 82.87 57.45 Td (measured ) Tj ET Q q 0 0 0 rg BT 114.88 57.45 Td (by ) Tj ET Q q 0 0 0 rg BT 124.23 57.45 Td (our ) Tj ET Q q 0 0 0 rg BT 136.25 57.45 Td (share ) Tj ET Q q 0 0 0 rg BT 154.49 57.45 Td (of ) Tj ET Q q 0 0 0 rg BT 162.51 57.45 Td (the ) Tj ET Q q 0 0 0 rg BT 173.64 57.45 Td (television ) Tj ET Q q 0 0 0 rg BT 206.10 57.45 Td (advertising ) Tj ET Q q 0 0 0 rg BT 243.00 57.45 Td (market, ) Tj ET Q q 0 0 0 rg BT 268.57 57.45 Td (which ) Tj ET Q q 0 0 0 rg BT 289.47 57.45 Td (represents ) Tj ET Q q 0 0 0 rg BT 323.26 57.45 Td (the ) Tj ET Q q 0 0 0 rg BT 334.39 57.45 Td (proportion ) Tj ET Q q 0 0 0 rg BT 369.52 57.45 Td (of ) Tj ET Q q 0 0 0 rg BT 377.54 57.45 Td (our ) Tj ET Q q 0 0 0 rg BT 389.55 57.45 Td (television ) Tj ET Q q 0 0 0 rg BT 422.02 57.45 Td (advertising ) Tj ET Q q 0 0 0 rg BT 458.92 57.45 Td (revenues ) Tj ET Q q 0 0 0 rg BT 488.70 57.45 Td (in ) Tj ET Q q 0 0 0 rg BT 496.28 57.45 Td (the ) Tj ET Q q 0 0 0 rg BT 507.41 57.45 Td (market ) Tj ET Q q 0 0 0 rg BT 530.98 57.45 Td (compared ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 47.85 Td (to ) Tj ET Q q 0 0 0 rg BT 57.72 47.85 Td (the ) Tj ET Q q 0 0 0 rg BT 69.50 47.85 Td (total ) Tj ET Q q 0 0 0 rg BT 85.71 47.85 Td (television ) Tj ET Q q 0 0 0 rg BT 118.82 47.85 Td (advertising ) Tj ET Q q 0 0 0 rg BT 156.37 47.85 Td (market. ) Tj ET Q q 0 0 0 rg BT 182.43 47.85 Td (W) Tj ET Q q 0 0 0 rg BT 189.34 47.85 Td (e ) Tj ET Q q 0 0 0 rg BT 194.89 47.85 Td (also ) Tj ET Q q 0 0 0 rg BT 209.78 47.85 Td (generate ) Tj ET Q q 0 0 0 rg BT 238.87 47.85 Td (additional ) Tj ET Q q 0 0 0 rg BT 272.86 47.85 Td (revenues ) Tj ET Q q 0 0 0 rg BT 303.29 47.85 Td (by ) Tj ET Q q 0 0 0 rg BT 313.29 47.85 Td (collecting ) Tj ET Q q 0 0 0 rg BT 346.84 47.85 Td (fees ) Tj ET Q q 0 0 0 rg BT 361.71 47.85 Td (from ) Tj ET Q q 0 0 0 rg BT 379.27 47.85 Td (cable ) Tj ET Q q 0 0 0 rg BT 398.14 47.85 Td (and ) Tj ET Q q 0 0 0 rg BT 411.69 47.85 Td (satellite ) Tj ET Q q 0 0 0 rg BT 438.57 47.85 Td (operators ) Tj ET Q q 0 0 0 rg BT 470.34 47.85 Td (for ) Tj ET Q q 0 0 0 rg BT 481.66 47.85 Td (carriage ) Tj ET Q q 0 0 0 rg BT 509.42 47.85 Td (of ) Tj ET Q q 0 0 0 rg BT 518.08 47.85 Td (our ) Tj ET Q q 0 0 0 rg BT 530.75 47.85 Td (channels.) Tj ET Q endstream endobj 19 0 obj <>] /Rotate 0 /Contents 20 0 R>> endobj 20 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 304.00 35.00 Td (7) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 723.50 Td (The ) Tj ET Q q 0 0 0 rg BT 63.00 723.50 Td (public ) Tj ET Q q 0 0 0 rg BT 84.05 723.50 Td (broadcasters ) Tj ET Q q 0 0 0 rg BT 125.09 723.50 Td (in ) Tj ET Q q 0 0 0 rg BT 132.38 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 143.21 723.50 Td (countries ) Tj ET Q q 0 0 0 rg BT 173.59 723.50 Td (in ) Tj ET Q q 0 0 0 rg BT 180.87 723.50 Td (which ) Tj ET Q q 0 0 0 rg BT 201.48 723.50 Td (we ) Tj ET Q q 0 0 0 rg BT 211.87 723.50 Td (operate ) Tj ET Q q 0 0 0 rg BT 236.47 723.50 Td (are ) Tj ET Q q 0 0 0 rg BT 247.30 723.50 Td (restricted ) Tj ET Q q 0 0 0 rg BT 278.12 723.50 Td (in ) Tj ET Q q 0 0 0 rg BT 285.40 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 296.23 723.50 Td (amount ) Tj ET Q q 0 0 0 rg BT 321.29 723.50 Td (of ) Tj ET Q q 0 0 0 rg BT 329.01 723.50 Td (advertising ) Tj ET Q q 0 0 0 rg BT 365.62 723.50 Td (that ) Tj ET Q q 0 0 0 rg BT 378.67 723.50 Td (they ) Tj ET Q q 0 0 0 rg BT 393.51 723.50 Td (may ) Tj ET Q q 0 0 0 rg BT 408.34 723.50 Td (sell. ) Tj ET Q q 0 0 0 rg BT 422.51 723.50 Td (See ) Tj ET Q q 0 0 0 rg BT 435.12 723.50 Td (Regulation ) Tj ET Q q 0 0 0 rg BT 474.83 723.50 Td (of ) Tj ET Q q 0 0 0 rg BT 482.48 723.50 Td (T) Tj ET Q q 0 0 0 rg BT 486.81 723.50 Td (elevision ) Tj ET Q q 0 0 0 rg BT 516.75 723.50 Td (Broadcasting ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 713.90 Td (below ) Tj ET Q q 0 0 0 rg BT 71.05 713.90 Td (for ) Tj ET Q q 0 0 0 rg BT 82.38 713.90 Td (additional ) Tj ET Q q 0 0 0 rg BT 116.37 713.90 Td (information.) 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Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 651.50 Td (Regulation ) Tj ET Q q 0 0 0 rg BT 88.84 651.50 Td (of ) Tj ET Q q 0 0 0 rg BT 97.36 651.50 Td (T) Tj ET Q q 0 0 0 rg BT 101.96 651.50 Td (elevision ) Tj ET Q q 0 0 0 rg BT 133.29 651.50 Td (Br) Tj ET Q q 0 0 0 rg BT 142.03 651.50 Td (oadcasting) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 635.90 Td (T) Tj ET Q q 0 0 0 rg BT 53.83 635.90 Td (elevision ) Tj ET Q q 0 0 0 rg BT 84.68 635.90 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 127.52 635.90 Td (in ) Tj ET Q q 0 0 0 rg BT 135.71 635.90 Td (each ) Tj ET Q q 0 0 0 rg BT 152.33 635.90 Td (of ) Tj ET Q q 0 0 0 rg BT 160.96 635.90 Td (the ) Tj ET Q q 0 0 0 rg BT 172.71 635.90 Td (countries ) Tj ET Q q 0 0 0 rg BT 204.00 635.90 Td (in ) Tj ET Q q 0 0 0 rg BT 212.19 635.90 Td (which ) Tj ET Q q 0 0 0 rg BT 233.71 635.90 Td (we ) Tj ET Q q 0 0 0 rg BT 245.00 635.90 Td (operate ) Tj ET Q q 0 0 0 rg BT 270.51 635.90 Td (is ) Tj ET Q q 0 0 0 rg BT 277.81 635.90 Td (regulated ) Tj ET Q q 0 0 0 rg BT 309.54 635.90 Td (by ) Tj ET Q q 0 0 0 rg BT 319.51 635.90 Td (a ) Tj ET Q q 0 0 0 rg BT 325.03 635.90 Td (governmental ) Tj ET Q q 0 0 0 rg BT 370.98 635.90 Td (authority ) Tj ET Q q 0 0 0 rg BT 401.83 635.90 Td (or ) Tj ET Q q 0 0 0 rg BT 410.46 635.90 Td (agency) Tj ET Q q 0 0 0 rg BT 432.60 635.90 Td (. ) Tj ET Q q 0 0 0 rg BT 436.56 635.90 Td (In ) Tj ET Q q 0 0 0 rg BT 445.20 635.90 Td (this ) Tj ET Q q 0 0 0 rg BT 458.72 635.90 Td (report, ) Tj ET Q q 0 0 0 rg BT 481.79 635.90 Td (we ) Tj ET Q q 0 0 0 rg BT 493.09 635.90 Td (refer ) Tj ET Q q 0 0 0 rg BT 510.15 635.90 Td (to ) Tj ET Q q 0 0 0 rg BT 518.34 635.90 Td (such ) Tj ET Q q 0 0 0 rg BT 534.97 635.90 Td (agencies ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 626.30 Td (individually ) Tj ET Q q 0 0 0 rg BT 90.58 626.30 Td (as ) Tj ET Q q 0 0 0 rg BT 99.65 626.30 Td (a ) Tj ET Q q 0 0 0 rg BT 105.62 626.30 Td (Media ) Tj ET Q q 0 0 0 rg BT 132.02 626.30 Td (Council ) Tj ET Q q 0 0 0 rg BT 163.31 626.30 Td (and ) Tj ET Q q 0 0 0 rg BT 177.27 626.30 Td (collectively ) Tj ET Q q 0 0 0 rg BT 217.00 626.30 Td (as ) Tj ET Q q 0 0 0 rg BT 226.08 626.30 Td (Media ) Tj ET Q q 0 0 0 rg BT 252.48 626.30 Td (Councils. ) Tj ET Q q 0 0 0 rg BT 288.89 626.30 Td (Media ) Tj ET Q q 0 0 0 rg BT 311.74 626.30 Td (Councils ) Tj ET Q q 0 0 0 rg BT 342.59 626.30 Td (generally ) Tj ET Q q 0 0 0 rg BT 374.77 626.30 Td (supervise ) Tj ET Q q 0 0 0 rg BT 407.39 626.30 Td (broadcasters ) Tj ET Q q 0 0 0 rg BT 449.79 626.30 Td (and ) Tj ET Q q 0 0 0 rg BT 463.75 626.30 Td (their ) Tj ET Q q 0 0 0 rg BT 480.82 626.30 Td (compliance ) Tj ET Q q 0 0 0 rg BT 520.11 626.30 Td (with ) Tj ET Q q 0 0 0 rg BT 536.74 626.30 Td (national ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 616.70 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 92.38 616.70 Td (legislation, ) Tj ET Q q 0 0 0 rg BT 129.70 616.70 Td (as ) Tj ET Q q 0 0 0 rg BT 138.37 616.70 Td (well ) Tj ET Q q 0 0 0 rg BT 154.14 616.70 Td (as ) Tj ET Q q 0 0 0 rg BT 162.80 616.70 Td (control ) Tj ET Q q 0 0 0 rg BT 187.46 616.70 Td (access ) Tj ET Q q 0 0 0 rg BT 209.89 616.70 Td (to ) Tj ET Q q 0 0 0 rg BT 218.12 616.70 Td (the ) Tj ET Q q 0 0 0 rg BT 229.89 616.70 Td (available ) Tj ET Q q 0 0 0 rg BT 260.76 616.70 Td (frequencies ) Tj ET Q q 0 0 0 rg BT 299.63 616.70 Td (through ) Tj ET Q q 0 0 0 rg BT 326.52 616.70 Td (licensing ) Tj ET Q q 0 0 0 rg BT 357.40 616.70 Td (regimes.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 598.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 57.20 598.10 Td (ogramming ) Tj ET Q q 0 0 0 rg BT 96.09 598.10 Td (and ) Tj ET Q q 0 0 0 rg BT 109.95 598.10 Td (Advertising ) Tj ET Q q 0 0 0 rg BT 148.83 598.10 Td (Regulation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 582.50 Td (Our ) Tj ET Q q 0 0 0 rg BT 63.93 582.50 Td (main ) Tj ET Q q 0 0 0 rg BT 81.91 582.50 Td (operating ) Tj ET Q q 0 0 0 rg BT 114.10 582.50 Td (countries ) Tj ET Q q 0 0 0 rg BT 145.41 582.50 Td (are ) Tj ET Q q 0 0 0 rg BT 157.16 582.50 Td (member ) Tj ET Q q 0 0 0 rg BT 185.36 582.50 Td (states ) Tj ET Q q 0 0 0 rg BT 205.11 582.50 Td (of ) Tj ET Q q 0 0 0 rg BT 213.76 582.50 Td (the ) Tj ET Q q 0 0 0 rg BT 225.52 582.50 Td (EU, ) Tj ET Q q 0 0 0 rg BT 240.17 582.50 Td (and ) Tj ET Q q 0 0 0 rg BT 253.70 582.50 Td (as ) Tj ET Q q 0 0 0 rg BT 262.35 582.50 Td (such, ) Tj ET Q q 0 0 0 rg BT 281.00 582.50 Td (our ) Tj ET Q q 0 0 0 rg BT 293.65 582.50 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 326.29 582.50 Td (operations ) Tj ET Q q 0 0 0 rg BT 361.59 582.50 Td (in ) Tj ET Q q 0 0 0 rg BT 369.80 582.50 Td (such ) Tj ET Q q 0 0 0 rg BT 386.45 582.50 Td (countries ) Tj ET Q q 0 0 0 rg BT 417.76 582.50 Td (are ) Tj ET Q q 0 0 0 rg BT 429.51 582.50 Td (subject ) Tj ET Q q 0 0 0 rg BT 454.15 582.50 Td (to ) Tj ET Q q 0 0 0 rg BT 462.36 582.50 Td (relevant ) Tj ET Q q 0 0 0 rg BT 490.11 582.50 Td (EU ) Tj ET Q q 0 0 0 rg BT 502.75 582.50 Td (legislation ) Tj ET Q q 0 0 0 rg BT 538.07 582.50 Td (relating ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 572.90 Td (to ) Tj ET Q q 0 0 0 rg BT 57.72 572.90 Td (media. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 557.30 Td (The ) Tj ET Q q 0 0 0 rg BT 63.98 557.30 Td (EU ) Tj ET Q q 0 0 0 rg BT 76.23 557.30 Td (Audiovisual ) Tj ET Q q 0 0 0 rg BT 117.38 557.30 Td (Media ) Tj ET Q q 0 0 0 rg BT 139.86 557.30 Td (Services ) Tj ET Q q 0 0 0 rg BT 169.00 557.30 Td (Directive ) Tj ET Q q 0 0 0 rg BT 200.81 557.30 Td (\(the ) Tj ET Q q 0 0 0 rg BT 215.29 557.30 Td (A) Tj ET Q q 0 0 0 rg BT 223.58 557.30 Td (VMS ) Tj ET Q q 0 0 0 rg BT 242.96 557.30 Td (Directive\) ) Tj ET Q q 0 0 0 rg BT 280.98 557.30 Td (came ) Tj ET Q q 0 0 0 rg BT 299.90 557.30 Td (into ) Tj ET Q q 0 0 0 rg BT 314.38 557.30 Td (force ) Tj ET Q q 0 0 0 rg BT 332.85 557.30 Td (in ) Tj ET Q q 0 0 0 rg BT 341.12 557.30 Td (December ) Tj ET Q q 0 0 0 rg BT 376.03 557.30 Td (2007 ) Tj ET Q q 0 0 0 rg BT 394.07 557.30 Td (and ) Tj ET Q q 0 0 0 rg BT 407.66 557.30 Td (provides ) Tj ET Q q 0 0 0 rg BT 437.25 557.30 Td (the ) Tj ET Q q 0 0 0 rg BT 449.06 557.30 Td (legal ) Tj ET Q q 0 0 0 rg BT 466.65 557.30 Td (framework ) Tj ET Q q 0 0 0 rg BT 503.79 557.30 Td (for ) Tj ET Q q 0 0 0 rg BT 515.16 557.30 Td (media ) Tj ET Q q 0 0 0 rg BT 536.74 557.30 Td (services ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 547.70 Td (generally ) Tj ET Q q 0 0 0 rg BT 81.50 547.70 Td (in ) Tj ET Q q 0 0 0 rg BT 89.97 547.70 Td (the ) Tj ET Q q 0 0 0 rg BT 101.98 547.70 Td (EU. ) Tj ET Q q 0 0 0 rg BT 116.73 547.70 Td (The ) Tj ET Q q 0 0 0 rg BT 130.91 547.70 Td (A) Tj ET Q q 0 0 0 rg BT 135.66 547.70 Td (VMS ) Tj ET Q q 0 0 0 rg BT 155.24 547.70 Td (Directive ) Tj ET Q q 0 0 0 rg BT 187.25 547.70 Td (covers ) Tj ET Q q 0 0 0 rg BT 210.37 547.70 Td (both ) Tj ET Q q 0 0 0 rg BT 226.83 547.70 Td (linear ) Tj ET Q q 0 0 0 rg BT 247.28 547.70 Td (\(i.e., ) Tj ET Q q 0 0 0 rg BT 263.96 547.70 Td (broadcasting\) ) Tj ET Q q 0 0 0 rg BT 309.75 547.70 Td (and ) Tj ET Q q 0 0 0 rg BT 323.54 547.70 Td (non-linear ) Tj ET Q q 0 0 0 rg BT 358.66 547.70 Td (\(e.g., ) Tj ET Q q 0 0 0 rg BT 377.11 547.70 Td (video-on-demand ) Tj ET Q q 0 0 0 rg BT 435.78 547.70 Td (and ) Tj ET Q q 0 0 0 rg BT 449.57 547.70 Td (mobile ) Tj ET Q q 0 0 0 rg BT 474.03 547.70 Td (television\) ) Tj ET Q q 0 0 0 rg BT 510.05 547.70 Td (transmissions ) Tj ET Q q 0 0 0 rg BT 555.85 547.70 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 538.10 Td (media ) Tj ET Q q 0 0 0 rg BT 71.62 538.10 Td (services, ) Tj ET Q q 0 0 0 rg BT 101.96 538.10 Td (with ) Tj ET Q q 0 0 0 rg BT 118.75 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 131.09 538.10 Td (latter ) Tj ET Q q 0 0 0 rg BT 150.10 538.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 175.33 538.10 Td (to ) Tj ET Q q 0 0 0 rg BT 184.12 538.10 Td (less ) Tj ET Q q 0 0 0 rg BT 198.70 538.10 Td (stringent ) Tj ET Q q 0 0 0 rg BT 229.26 538.10 Td (regulation. ) Tj ET Q q 0 0 0 rg BT 265.70 538.10 Td (Among ) Tj ET Q q 0 0 0 rg BT 292.27 538.10 Td (other ) Tj ET Q q 0 0 0 rg BT 311.28 538.10 Td (things, ) Tj ET Q q 0 0 0 rg BT 335.41 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 347.19 538.10 Td (A) Tj ET Q q 0 0 0 rg BT 351.93 538.10 Td (VMS ) Tj ET Q q 0 0 0 rg BT 371.84 538.10 Td (Directive ) Tj ET Q q 0 0 0 rg BT 404.18 538.10 Td (requires ) Tj ET Q q 0 0 0 rg BT 432.51 538.10 Td (broadcasters, ) Tj ET Q q 0 0 0 rg BT 477.07 538.10 Td (where ) Tj ET Q q 0 0 0 rg BT 499.18 538.10 Td (practicable ) Tj ET Q q 0 0 0 rg BT 540.39 538.10 Td (and ) Tj ET Q q 0 0 0 rg BT 554.51 538.10 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 528.50 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 88.32 528.50 Td (means, ) Tj ET Q q 0 0 0 rg BT 116.70 528.50 Td (to ) Tj ET Q q 0 0 0 rg BT 125.32 528.50 Td (reserve ) Tj ET Q q 0 0 0 rg BT 150.81 528.50 Td (a ) Tj ET Q q 0 0 0 rg BT 156.75 528.50 Td (majority ) Tj ET Q q 0 0 0 rg BT 186.25 528.50 Td (of ) Tj ET Q q 0 0 0 rg BT 195.31 528.50 Td (their ) Tj ET Q q 0 0 0 rg BT 212.37 528.50 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 245.41 528.50 Td (time ) Tj ET Q q 0 0 0 rg BT 262.03 528.50 Td (for ) Tj ET Q q 0 0 0 rg BT 273.75 528.50 Td (European ) Tj ET Q q 0 0 0 rg BT 310.35 528.50 Td (works. ) Tj ET Q q 0 0 0 rg BT 337.85 528.50 Td (Such ) Tj ET Q q 0 0 0 rg BT 356.24 528.50 Td (works ) Tj ET Q q 0 0 0 rg BT 378.19 528.50 Td (are ) Tj ET Q q 0 0 0 rg BT 390.35 528.50 Td (defined ) Tj ET Q q 0 0 0 rg BT 416.73 528.50 Td (as ) Tj ET Q q 0 0 0 rg BT 425.79 528.50 Td (originating ) Tj ET Q q 0 0 0 rg BT 463.29 528.50 Td (from ) Tj ET Q q 0 0 0 rg BT 481.24 528.50 Td (an ) Tj ET Q q 0 0 0 rg BT 491.18 528.50 Td (EU ) Tj ET Q q 0 0 0 rg BT 504.24 528.50 Td (member ) Tj ET Q q 0 0 0 rg BT 532.85 528.50 Td (state ) Tj ET Q q 0 0 0 rg BT 549.90 528.50 Td (or ) Tj ET Q q 0 0 0 rg BT 558.96 528.50 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 518.90 Td (signatory ) Tj ET Q q 0 0 0 rg BT 81.44 518.90 Td (to ) Tj ET Q q 0 0 0 rg BT 89.83 518.90 Td (the ) Tj ET Q q 0 0 0 rg BT 101.77 518.90 Td (Council ) Tj ET Q q 0 0 0 rg BT 129.27 518.90 Td (of ) Tj ET Q q 0 0 0 rg BT 138.10 518.90 Td (Europe's ) Tj ET Q q 0 0 0 rg BT 167.92 518.90 Td (Convention ) Tj ET Q q 0 0 0 rg BT 207.42 518.90 Td (on ) Tj ET Q q 0 0 0 rg BT 217.43 518.90 Td (T) Tj ET Q q 0 0 0 rg BT 222.04 518.90 Td (ransfrontier ) Tj ET Q q 0 0 0 rg BT 261.37 518.90 Td (T) Tj ET Q q 0 0 0 rg BT 265.69 518.90 Td (elevision ) Tj ET Q q 0 0 0 rg BT 296.74 518.90 Td (as ) Tj ET Q q 0 0 0 rg BT 305.57 518.90 Td (well ) Tj ET Q q 0 0 0 rg BT 321.51 518.90 Td (as ) Tj ET Q q 0 0 0 rg BT 330.35 518.90 Td (being ) Tj ET Q q 0 0 0 rg BT 350.29 518.90 Td (written ) Tj ET Q q 0 0 0 rg BT 375.11 518.90 Td (and ) Tj ET Q q 0 0 0 rg BT 388.83 518.90 Td (produced ) Tj ET Q q 0 0 0 rg BT 420.76 518.90 Td (mainly ) Tj ET Q q 0 0 0 rg BT 445.15 518.90 Td (by ) Tj ET Q q 0 0 0 rg BT 455.32 518.90 Td (residents ) Tj ET Q q 0 0 0 rg BT 485.92 518.90 Td (of ) Tj ET Q q 0 0 0 rg BT 494.75 518.90 Td (the ) Tj ET Q q 0 0 0 rg BT 506.69 518.90 Td (EU ) Tj ET Q q 0 0 0 rg BT 519.52 518.90 Td (or ) Tj ET Q q 0 0 0 rg BT 528.35 518.90 Td (Council ) Tj ET Q q 0 0 0 rg BT 555.85 518.90 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 509.30 Td (Europe ) Tj ET Q q 0 0 0 rg BT 74.95 509.30 Td (member ) Tj ET Q q 0 0 0 rg BT 103.50 509.30 Td (states ) Tj ET Q q 0 0 0 rg BT 123.62 509.30 Td (or ) Tj ET Q q 0 0 0 rg BT 132.63 509.30 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 162.53 509.30 Td (to ) Tj ET Q q 0 0 0 rg BT 171.10 509.30 Td (co-production ) Tj ET Q q 0 0 0 rg BT 218.32 509.30 Td (agreements ) Tj ET Q q 0 0 0 rg BT 257.09 509.30 Td (between ) Tj ET Q q 0 0 0 rg BT 286.09 509.30 Td (such ) Tj ET Q q 0 0 0 rg BT 303.10 509.30 Td (states ) Tj ET Q q 0 0 0 rg BT 323.22 509.30 Td (and ) Tj ET Q q 0 0 0 rg BT 337.11 509.30 Td (other ) Tj ET Q q 0 0 0 rg BT 355.90 509.30 Td (countries. ) Tj ET Q q 0 0 0 rg BT 389.57 509.30 Td (In ) Tj ET Q q 0 0 0 rg BT 398.58 509.30 Td (addition, ) Tj ET Q q 0 0 0 rg BT 429.14 509.30 Td (the ) Tj ET Q q 0 0 0 rg BT 440.74 509.30 Td (A) Tj ET Q q 0 0 0 rg BT 445.49 509.30 Td (VMS ) Tj ET Q q 0 0 0 rg BT 465.17 509.30 Td (Directive ) Tj ET Q q 0 0 0 rg BT 497.28 509.30 Td (requires ) Tj ET Q q 0 0 0 rg BT 525.39 509.30 Td (that ) Tj ET Q q 0 0 0 rg BT 539.73 509.30 Td (at ) Tj ET Q q 0 0 0 rg BT 547.85 509.30 Td (least ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 499.70 Td (10% ) Tj ET Q q 0 0 0 rg BT 66.17 499.70 Td (of ) Tj ET Q q 0 0 0 rg BT 74.83 499.70 Td (either ) Tj ET Q q 0 0 0 rg BT 95.04 499.70 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 127.70 499.70 Td (time ) Tj ET Q q 0 0 0 rg BT 143.92 499.70 Td (or ) Tj ET Q q 0 0 0 rg BT 152.59 499.70 Td (programming ) Tj ET Q q 0 0 0 rg BT 198.13 499.70 Td (budget ) Tj ET Q q 0 0 0 rg BT 221.91 499.70 Td (is ) Tj ET Q q 0 0 0 rg BT 229.25 499.70 Td (dedicated ) Tj ET Q q 0 0 0 rg BT 261.90 499.70 Td (to ) Tj ET Q q 0 0 0 rg BT 270.12 499.70 Td (programs ) Tj ET Q q 0 0 0 rg BT 302.34 499.70 Td (made ) Tj ET Q q 0 0 0 rg BT 321.67 499.70 Td (by ) Tj ET Q q 0 0 0 rg BT 331.67 499.70 Td (European ) Tj ET Q q 0 0 0 rg BT 364.32 499.70 Td (producers ) Tj ET Q q 0 0 0 rg BT 397.87 499.70 Td (who ) Tj ET Q q 0 0 0 rg BT 413.65 499.70 Td (are ) Tj ET Q q 0 0 0 rg BT 425.41 499.70 Td (independent ) Tj ET Q q 0 0 0 rg BT 466.51 499.70 Td (of ) Tj ET Q q 0 0 0 rg BT 475.18 499.70 Td (broadcasters. ) Tj ET Q q 0 0 0 rg BT 519.16 499.70 Td (News, ) Tj ET Q q 0 0 0 rg BT 541.38 499.70 Td (sports, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 490.10 Td (games, ) Tj ET Q q 0 0 0 rg BT 74.06 490.10 Td (advertising, ) Tj ET Q q 0 0 0 rg BT 113.73 490.10 Td (teletext ) Tj ET Q q 0 0 0 rg BT 139.39 490.10 Td (services ) Tj ET Q q 0 0 0 rg BT 167.28 490.10 Td (and ) Tj ET Q q 0 0 0 rg BT 180.95 490.10 Td (teleshopping ) Tj ET Q q 0 0 0 rg BT 223.95 490.10 Td (are ) Tj ET Q q 0 0 0 rg BT 235.84 490.10 Td (excluded ) Tj ET Q q 0 0 0 rg BT 266.84 490.10 Td (from ) Tj ET Q q 0 0 0 rg BT 284.51 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 296.40 490.10 Td (calculation ) Tj ET Q q 0 0 0 rg BT 333.62 490.10 Td (of ) Tj ET Q q 0 0 0 rg BT 342.40 490.10 Td (these ) Tj ET Q q 0 0 0 rg BT 360.96 490.10 Td (quotas. ) Tj ET Q q 0 0 0 rg BT 385.97 490.10 Td (In ) Tj ET Q q 0 0 0 rg BT 394.75 490.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 419.53 490.10 Td (of ) Tj ET Q q 0 0 0 rg BT 428.31 490.10 Td (advertising, ) Tj ET Q q 0 0 0 rg BT 467.98 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 479.41 490.10 Td (A) Tj ET Q q 0 0 0 rg BT 484.15 490.10 Td (VMS ) Tj ET Q q 0 0 0 rg BT 503.61 490.10 Td (Directive ) Tj ET Q q 0 0 0 rg BT 535.50 490.10 Td (does ) Tj ET Q q 0 0 0 rg BT 552.28 490.10 Td (not ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 480.50 Td (restrict ) Tj ET Q q 0 0 0 rg BT 74.52 480.50 Td (when ) Tj ET Q q 0 0 0 rg BT 94.66 480.50 Td (programming ) Tj ET Q q 0 0 0 rg BT 141.02 480.50 Td (can ) Tj ET Q q 0 0 0 rg BT 154.94 480.50 Td (be ) Tj ET Q q 0 0 0 rg BT 165.30 480.50 Td (interrupted ) Tj ET Q q 0 0 0 rg BT 203.21 480.50 Td (by ) Tj ET Q q 0 0 0 rg BT 214.02 480.50 Td (advertising ) Tj ET Q q 0 0 0 rg BT 252.38 480.50 Td (in ) Tj ET Q q 0 0 0 rg BT 261.42 480.50 Td (linear ) Tj ET Q q 0 0 0 rg BT 282.44 480.50 Td (broadcasting, ) Tj ET Q q 0 0 0 rg BT 328.13 480.50 Td (except ) Tj ET Q q 0 0 0 rg BT 351.82 480.50 Td (in ) Tj ET Q q 0 0 0 rg BT 360.85 480.50 Td (the ) Tj ET Q q 0 0 0 rg BT 373.44 480.50 Td (case ) Tj ET Q q 0 0 0 rg BT 390.02 480.50 Td (of ) Tj ET Q q 0 0 0 rg BT 399.49 480.50 Td (movies, ) Tj ET Q q 0 0 0 rg BT 427.41 480.50 Td (news ) Tj ET Q q 0 0 0 rg BT 446.67 480.50 Td (and ) Tj ET Q q 0 0 0 rg BT 461.03 480.50 Td (children's ) Tj ET Q q 0 0 0 rg BT 494.61 480.50 Td (programming, ) Tj ET Q q 0 0 0 rg BT 542.97 480.50 Td (where ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 470.90 Td (programming ) Tj ET Q q 0 0 0 rg BT 94.46 470.90 Td (can ) Tj ET Q q 0 0 0 rg BT 106.97 470.90 Td (be ) Tj ET Q q 0 0 0 rg BT 115.94 470.90 Td (interrupted ) Tj ET Q q 0 0 0 rg BT 152.45 470.90 Td (once ) Tj ET Q q 0 0 0 rg BT 168.96 470.90 Td (every ) Tj ET Q q 0 0 0 rg BT 188.14 470.90 Td (thirty ) Tj ET Q q 0 0 0 rg BT 206.89 470.90 Td (minutes ) Tj ET Q q 0 0 0 rg BT 233.63 470.90 Td (or ) Tj ET Q q 0 0 0 rg BT 241.71 470.90 Td (more. ) Tj ET Q q 0 0 0 rg BT 261.56 470.90 Td (In ) Tj ET Q q 0 0 0 rg BT 269.64 470.90 Td (addition, ) Tj ET Q q 0 0 0 rg BT 299.27 470.90 Td (broadcasters ) Tj ET Q q 0 0 0 rg BT 340.66 470.90 Td (may ) Tj ET Q q 0 0 0 rg BT 355.85 470.90 Td (use ) Tj ET Q q 0 0 0 rg BT 367.93 470.90 Td (product ) Tj ET Q q 0 0 0 rg BT 393.78 470.90 Td (placement ) Tj ET Q q 0 0 0 rg BT 428.06 470.90 Td (in ) Tj ET Q q 0 0 0 rg BT 435.70 470.90 Td (most ) Tj ET Q q 0 0 0 rg BT 452.67 470.90 Td (genres, ) Tj ET Q q 0 0 0 rg BT 476.96 470.90 Td (subject ) Tj ET Q q 0 0 0 rg BT 501.03 470.90 Td (to ) Tj ET Q q 0 0 0 rg BT 508.67 470.90 Td (the ) Tj ET Q q 0 0 0 rg BT 519.86 470.90 Td (identification ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 461.30 Td (of ) Tj ET Q q 0 0 0 rg BT 58.16 461.30 Td (such ) Tj ET Q q 0 0 0 rg BT 74.83 461.30 Td (practices ) Tj ET Q q 0 0 0 rg BT 105.25 461.30 Td (and ) Tj ET Q q 0 0 0 rg BT 118.80 461.30 Td (limitations ) Tj ET Q q 0 0 0 rg BT 155.03 461.30 Td (on ) Tj ET Q q 0 0 0 rg BT 165.03 461.30 Td (prominence.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 445.70 Td (Member ) Tj ET Q q 0 0 0 rg BT 78.83 445.70 Td (states ) Tj ET Q q 0 0 0 rg BT 98.82 445.70 Td (were ) Tj ET Q q 0 0 0 rg BT 116.59 445.70 Td (required ) Tj ET Q q 0 0 0 rg BT 145.46 445.70 Td (to ) Tj ET Q q 0 0 0 rg BT 153.91 445.70 Td (implement ) Tj ET Q q 0 0 0 rg BT 190.35 445.70 Td (the ) Tj ET Q q 0 0 0 rg BT 201.86 445.70 Td (A) Tj ET Q q 0 0 0 rg BT 206.60 445.70 Td (VMS ) Tj ET Q q 0 0 0 rg BT 226.17 445.70 Td (Directive ) Tj ET Q q 0 0 0 rg BT 258.15 445.70 Td (by ) Tj ET Q q 0 0 0 rg BT 268.37 445.70 Td (December ) Tj ET Q q 0 0 0 rg BT 303.47 445.70 Td (19, ) Tj ET Q q 0 0 0 rg BT 315.69 445.70 Td (2009, ) Tj ET Q q 0 0 0 rg BT 335.91 445.70 Td (and ) Tj ET Q q 0 0 0 rg BT 349.69 445.70 Td (of ) Tj ET Q q 0 0 0 rg BT 358.57 445.70 Td (the ) Tj ET Q q 0 0 0 rg BT 370.57 445.70 Td (countries ) Tj ET Q q 0 0 0 rg BT 402.12 445.70 Td (in ) Tj ET Q q 0 0 0 rg BT 410.57 445.70 Td (which ) Tj ET Q q 0 0 0 rg BT 432.34 445.70 Td (we ) Tj ET Q q 0 0 0 rg BT 443.89 445.70 Td (operate ) Tj ET Q q 0 0 0 rg BT 469.65 445.70 Td (Croatia, ) Tj ET Q q 0 0 0 rg BT 497.43 445.70 Td (the ) Tj ET Q q 0 0 0 rg BT 509.42 445.70 Td (Czech ) Tj ET Q q 0 0 0 rg BT 531.63 445.70 Td (Republic, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 436.10 Td (Romania ) Tj ET Q q 0 0 0 rg BT 80.43 436.10 Td (and ) Tj ET Q q 0 0 0 rg BT 94.03 436.10 Td (the ) Tj ET Q q 0 0 0 rg BT 105.86 436.10 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 130.13 436.10 Td (Republic ) Tj ET Q q 0 0 0 rg BT 161.06 436.10 Td (have ) Tj ET Q q 0 0 0 rg BT 178.21 436.10 Td (notified ) Tj ET Q q 0 0 0 rg BT 205.15 436.10 Td (the ) Tj ET Q q 0 0 0 rg BT 216.97 436.10 Td (European ) Tj ET Q q 0 0 0 rg BT 249.67 436.10 Td (Commission ) Tj ET Q q 0 0 0 rg BT 292.17 436.10 Td (that ) Tj ET Q q 0 0 0 rg BT 306.22 436.10 Td (the ) Tj ET Q q 0 0 0 rg BT 318.04 436.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 355.64 436.10 Td (have ) Tj ET Q q 0 0 0 rg BT 372.79 436.10 Td (been ) Tj ET Q q 0 0 0 rg BT 389.94 436.10 Td (put ) Tj ET Q q 0 0 0 rg BT 402.21 436.10 Td (in ) Tj ET Q q 0 0 0 rg BT 410.49 436.10 Td (place. ) Tj ET Q q 0 0 0 rg BT 431.41 436.10 Td (Legislation ) Tj ET Q q 0 0 0 rg BT 469.45 436.10 Td (has ) Tj ET Q q 0 0 0 rg BT 482.17 436.10 Td (been ) Tj ET Q q 0 0 0 rg BT 499.32 436.10 Td (adopted ) Tj ET Q q 0 0 0 rg BT 526.69 436.10 Td (in ) Tj ET Q q 0 0 0 rg BT 534.97 436.10 Td (Bulgaria ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 426.50 Td (and ) Tj ET Q q 0 0 0 rg BT 63.21 426.50 Td (Slovenia ) Tj ET Q q 0 0 0 rg BT 93.36 426.50 Td (to ) Tj ET Q q 0 0 0 rg BT 101.73 426.50 Td (implement ) Tj ET Q q 0 0 0 rg BT 138.10 426.50 Td (the ) Tj ET Q q 0 0 0 rg BT 149.55 426.50 Td (A) Tj ET Q q 0 0 0 rg BT 154.30 426.50 Td (VMS ) Tj ET Q q 0 0 0 rg BT 173.79 426.50 Td (Directive. ) Tj ET Q q 0 0 0 rg BT 207.71 426.50 Td (Under ) Tj ET Q q 0 0 0 rg BT 229.86 426.50 Td (the ) Tj ET Q q 0 0 0 rg BT 241.31 426.50 Td (A) Tj ET Q q 0 0 0 rg BT 246.05 426.50 Td (VMS ) Tj ET Q q 0 0 0 rg BT 265.55 426.50 Td (Directive, ) Tj ET Q q 0 0 0 rg BT 299.46 426.50 Td (member ) Tj ET Q q 0 0 0 rg BT 327.83 426.50 Td (states ) Tj ET Q q 0 0 0 rg BT 347.76 426.50 Td (are ) Tj ET Q q 0 0 0 rg BT 359.68 426.50 Td (permitted ) Tj ET Q q 0 0 0 rg BT 392.49 426.50 Td (to ) Tj ET Q q 0 0 0 rg BT 400.87 426.50 Td (adopt ) Tj ET Q q 0 0 0 rg BT 420.79 426.50 Td (stricter ) Tj ET Q q 0 0 0 rg BT 445.16 426.50 Td (conditions ) Tj ET Q q 0 0 0 rg BT 480.64 426.50 Td (than ) Tj ET Q q 0 0 0 rg BT 496.57 426.50 Td (those ) Tj ET Q q 0 0 0 rg BT 515.61 426.50 Td (set ) Tj ET Q q 0 0 0 rg BT 526.65 426.50 Td (forth ) Tj ET Q q 0 0 0 rg BT 544.36 426.50 Td (in ) Tj ET Q q 0 0 0 rg BT 552.74 426.50 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 416.90 Td (A) Tj ET Q q 0 0 0 rg BT 54.25 416.90 Td (VMS ) Tj ET Q q 0 0 0 rg BT 73.59 416.90 Td (Directive. ) Tj ET Q q 0 0 0 rg BT 107.20 416.90 Td (The ) Tj ET Q q 0 0 0 rg BT 121.64 416.90 Td (legislation ) Tj ET Q q 0 0 0 rg BT 156.97 416.90 Td (enacted ) Tj ET Q q 0 0 0 rg BT 183.39 416.90 Td (in ) Tj ET Q q 0 0 0 rg BT 191.62 416.90 Td (our ) Tj ET Q q 0 0 0 rg BT 204.28 416.90 Td (operating ) Tj ET Q q 0 0 0 rg BT 236.49 416.90 Td (countries ) Tj ET Q q 0 0 0 rg BT 267.82 416.90 Td (is ) Tj ET Q q 0 0 0 rg BT 275.15 416.90 Td (consistent ) Tj ET Q q 0 0 0 rg BT 309.15 416.90 Td (with ) Tj ET Q q 0 0 0 rg BT 325.37 416.90 Td (the ) Tj ET Q q 0 0 0 rg BT 337.14 416.90 Td (EU ) Tj ET Q q 0 0 0 rg BT 349.81 416.90 Td (rules.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 401.30 Td (Please ) Tj ET Q q 0 0 0 rg BT 71.94 401.30 Td (see ) Tj ET Q q 0 0 0 rg BT 84.15 401.30 Td (below ) Tj ET Q q 0 0 0 rg BT 105.70 401.30 Td (for ) Tj ET Q q 0 0 0 rg BT 117.03 401.30 Td (more ) Tj ET Q q 0 0 0 rg BT 135.47 401.30 Td (detailed ) Tj ET Q q 0 0 0 rg BT 162.79 401.30 Td (information ) Tj ET Q q 0 0 0 rg BT 202.56 401.30 Td (on ) Tj ET Q q 0 0 0 rg BT 212.56 401.30 Td (programming ) Tj ET Q q 0 0 0 rg BT 258.11 401.30 Td (and ) Tj ET Q q 0 0 0 rg BT 271.66 401.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 309.20 401.30 Td (regulations ) Tj ET Q q 0 0 0 rg BT 346.75 401.30 Td (that ) Tj ET Q q 0 0 0 rg BT 360.75 401.30 Td (impact ) Tj ET Q q 0 0 0 rg BT 384.52 401.30 Td (our ) Tj ET Q q 0 0 0 rg BT 397.18 401.30 Td (channels.) Tj ET Q BT /F1 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 49.5 384.63359375 m 77.046875 384.63359375 l s q 0 0 0 rg BT 49.50 385.70 Td (Bulgaria) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 77.05 385.70 Td (: ) Tj ET Q q 0 0 0 rg BT 81.36 385.70 Td (In ) Tj ET Q q 0 0 0 rg BT 90.11 385.70 Td (Bulgaria, ) Tj ET Q q 0 0 0 rg BT 121.74 385.70 Td (privately ) Tj ET Q q 0 0 0 rg BT 152.26 385.70 Td (owned ) Tj ET Q q 0 0 0 rg BT 175.68 385.70 Td (broadcasters ) Tj ET Q q 0 0 0 rg BT 217.74 385.70 Td (are ) Tj ET Q q 0 0 0 rg BT 229.60 385.70 Td (permitted ) Tj ET Q q 0 0 0 rg BT 262.34 385.70 Td (to ) Tj ET Q q 0 0 0 rg BT 270.65 385.70 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 303.39 385.70 Td (advertising ) Tj ET Q q 0 0 0 rg BT 341.02 385.70 Td (for ) Tj ET Q q 0 0 0 rg BT 352.44 385.70 Td (up ) Tj ET Q q 0 0 0 rg BT 362.52 385.70 Td (to ) Tj ET Q q 0 0 0 rg BT 370.83 385.70 Td (12 ) Tj ET Q q 0 0 0 rg BT 380.92 385.70 Td (minutes ) Tj ET Q q 0 0 0 rg BT 408.34 385.70 Td (per ) Tj ET Q q 0 0 0 rg BT 420.64 385.70 Td (hour) Tj ET Q q 0 0 0 rg BT 434.86 385.70 Td (. ) Tj ET Q q 0 0 0 rg BT 438.80 385.70 Td (The ) Tj ET Q q 0 0 0 rg BT 453.32 385.70 Td (public ) Tj ET Q q 0 0 0 rg BT 475.41 385.70 Td (broadcaster) Tj ET Q q 0 0 0 rg BT 511.95 385.70 Td (, ) Tj ET Q q 0 0 0 rg BT 516.04 385.70 Td (BNT) Tj ET Q q 0 0 0 rg BT 531.45 385.70 Td (, ) Tj ET Q q 0 0 0 rg BT 535.53 385.70 Td (which ) Tj ET Q q 0 0 0 rg BT 557.17 385.70 Td (is ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 376.10 Td (financed ) Tj ET Q q 0 0 0 rg BT 78.94 376.10 Td (through ) Tj ET Q q 0 0 0 rg BT 105.73 376.10 Td (a ) Tj ET Q q 0 0 0 rg BT 111.19 376.10 Td (compulsory ) Tj ET Q q 0 0 0 rg BT 150.87 376.10 Td (television ) Tj ET Q q 0 0 0 rg BT 183.88 376.10 Td (license ) Tj ET Q q 0 0 0 rg BT 207.99 376.10 Td (fee ) Tj ET Q q 0 0 0 rg BT 219.66 376.10 Td (and ) Tj ET Q q 0 0 0 rg BT 233.12 376.10 Td (by ) Tj ET Q q 0 0 0 rg BT 243.02 376.10 Td (the ) Tj ET Q q 0 0 0 rg BT 254.70 376.10 Td (government, ) Tj ET Q q 0 0 0 rg BT 296.81 376.10 Td (is ) Tj ET Q q 0 0 0 rg BT 304.05 376.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 335.72 376.10 Td (to ) Tj ET Q q 0 0 0 rg BT 343.85 376.10 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 386.63 376.10 Td (advertising ) Tj ET Q q 0 0 0 rg BT 424.08 376.10 Td (for ) Tj ET Q q 0 0 0 rg BT 435.31 376.10 Td (4 ) Tj ET Q q 0 0 0 rg BT 441.21 376.10 Td (minutes ) Tj ET Q q 0 0 0 rg BT 468.45 376.10 Td (per ) Tj ET Q q 0 0 0 rg BT 480.57 376.10 Td (hour ) Tj ET Q q 0 0 0 rg BT 497.14 376.10 Td (and ) Tj ET Q q 0 0 0 rg BT 510.59 376.10 Td (no ) Tj ET Q q 0 0 0 rg BT 520.50 376.10 Td (more ) Tj ET Q q 0 0 0 rg BT 538.84 376.10 Td (than ) Tj ET Q q 0 0 0 rg BT 554.52 376.10 Td (15 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 366.50 Td (minutes ) Tj ET Q q 0 0 0 rg BT 77.34 366.50 Td (per ) Tj ET Q q 0 0 0 rg BT 90.06 366.50 Td (day) Tj ET Q q 0 0 0 rg BT 101.09 366.50 Td (, ) Tj ET Q q 0 0 0 rg BT 105.60 366.50 Td (of ) Tj ET Q q 0 0 0 rg BT 114.77 366.50 Td (which ) Tj ET Q q 0 0 0 rg BT 136.83 366.50 Td (only ) Tj ET Q q 0 0 0 rg BT 153.56 366.50 Td (five ) Tj ET Q q 0 0 0 rg BT 168.51 366.50 Td (minutes ) Tj ET Q q 0 0 0 rg BT 196.35 366.50 Td (may ) Tj ET Q q 0 0 0 rg BT 212.63 366.50 Td (be ) Tj ET Q q 0 0 0 rg BT 222.69 366.50 Td (in ) Tj ET Q q 0 0 0 rg BT 231.42 366.50 Td (prime ) Tj ET Q q 0 0 0 rg BT 252.59 366.50 Td (time. ) Tj ET Q q 0 0 0 rg BT 271.13 366.50 Td (There ) Tj ET Q q 0 0 0 rg BT 292.29 366.50 Td (are ) Tj ET Q q 0 0 0 rg BT 304.56 366.50 Td (also ) Tj ET Q q 0 0 0 rg BT 319.96 366.50 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 358.01 366.50 Td (on ) Tj ET Q q 0 0 0 rg BT 368.52 366.50 Td (the ) Tj ET Q q 0 0 0 rg BT 380.80 366.50 Td (frequency ) Tj ET Q q 0 0 0 rg BT 415.29 366.50 Td (of ) Tj ET Q q 0 0 0 rg BT 424.46 366.50 Td (advertising ) Tj ET Q q 0 0 0 rg BT 462.52 366.50 Td (breaks ) Tj ET Q q 0 0 0 rg BT 485.90 366.50 Td (\(for ) Tj ET Q q 0 0 0 rg BT 500.40 366.50 Td (example, ) Tj ET Q q 0 0 0 rg BT 532.01 366.50 Td (news ) Tj ET Q q 0 0 0 rg BT 550.96 366.50 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 356.90 Td (children's ) Tj ET Q q 0 0 0 rg BT 81.90 356.90 Td (programs ) Tj ET Q q 0 0 0 rg BT 113.75 356.90 Td (shorter ) Tj ET Q q 0 0 0 rg BT 137.60 356.90 Td (than ) Tj ET Q q 0 0 0 rg BT 153.01 356.90 Td (30 ) Tj ET Q q 0 0 0 rg BT 162.65 356.90 Td (minutes ) Tj ET Q q 0 0 0 rg BT 189.62 356.90 Td (cannot ) Tj ET Q q 0 0 0 rg BT 212.58 356.90 Td (be ) Tj ET Q q 0 0 0 rg BT 221.76 356.90 Td (interrupted\). ) Tj ET Q q 0 0 0 rg BT 263.04 356.90 Td (These ) Tj ET Q q 0 0 0 rg BT 283.78 356.90 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 320.96 356.90 Td (apply ) Tj ET Q q 0 0 0 rg BT 340.37 356.90 Td (to ) Tj ET Q q 0 0 0 rg BT 348.23 356.90 Td (both ) Tj ET Q q 0 0 0 rg BT 364.09 356.90 Td (publicly ) Tj ET Q q 0 0 0 rg BT 391.94 356.90 Td (and ) Tj ET Q q 0 0 0 rg BT 405.13 356.90 Td (privately ) Tj ET Q q 0 0 0 rg BT 435.20 356.90 Td (owned ) Tj ET Q q 0 0 0 rg BT 458.16 356.90 Td (broadcasters. ) Tj ET Q q 0 0 0 rg BT 501.78 356.90 Td (Further ) Tj ET Q q 0 0 0 rg BT 526.96 356.90 Td (restrictions ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 347.30 Td (relate ) Tj ET Q q 0 0 0 rg BT 69.99 347.30 Td (to ) Tj ET Q q 0 0 0 rg BT 78.93 347.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 117.20 347.30 Td (content, ) Tj ET Q q 0 0 0 rg BT 145.47 347.30 Td (including ) Tj ET Q q 0 0 0 rg BT 178.42 347.30 Td (a ) Tj ET Q q 0 0 0 rg BT 184.69 347.30 Td (ban ) Tj ET Q q 0 0 0 rg BT 198.96 347.30 Td (on ) Tj ET Q q 0 0 0 rg BT 209.69 347.30 Td (tobacco ) Tj ET Q q 0 0 0 rg BT 237.29 347.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 275.56 347.30 Td (and ) Tj ET Q q 0 0 0 rg BT 289.83 347.30 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 328.10 347.30 Td (on ) Tj ET Q q 0 0 0 rg BT 338.83 347.30 Td (alcohol ) Tj ET Q q 0 0 0 rg BT 365.10 347.30 Td (advertising, ) Tj ET Q q 0 0 0 rg BT 405.37 347.30 Td (regulations ) Tj ET Q q 0 0 0 rg BT 443.64 347.30 Td (on ) Tj ET Q q 0 0 0 rg BT 454.36 347.30 Td (medical ) Tj ET Q q 0 0 0 rg BT 482.40 347.30 Td (products ) Tj ET Q q 0 0 0 rg BT 512.68 347.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 550.95 347.30 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 337.70 Td (regulations ) Tj ET Q q 0 0 0 rg BT 86.68 337.70 Td (on ) Tj ET Q q 0 0 0 rg BT 96.31 337.70 Td (advertising ) Tj ET Q q 0 0 0 rg BT 133.48 337.70 Td (tar) Tj ET Q q 0 0 0 rg BT 141.78 337.70 Td (geted ) Tj ET Q q 0 0 0 rg BT 160.73 337.70 Td (at ) Tj ET Q q 0 0 0 rg BT 168.13 337.70 Td (children ) Tj ET Q q 0 0 0 rg BT 195.97 337.70 Td (or ) Tj ET Q q 0 0 0 rg BT 204.27 337.70 Td (during ) Tj ET Q q 0 0 0 rg BT 226.79 337.70 Td (children's ) Tj ET Q q 0 0 0 rg BT 259.18 337.70 Td (programming. ) Tj ET Q q 0 0 0 rg BT 306.36 337.70 Td (In ) Tj ET Q q 0 0 0 rg BT 314.65 337.70 Td (addition, ) Tj ET Q q 0 0 0 rg BT 344.50 337.70 Td (members ) Tj ET Q q 0 0 0 rg BT 375.45 337.70 Td (of ) Tj ET Q q 0 0 0 rg BT 383.75 337.70 Td (the ) Tj ET Q q 0 0 0 rg BT 395.15 337.70 Td (news ) Tj ET Q q 0 0 0 rg BT 413.22 337.70 Td (department ) Tj ET Q q 0 0 0 rg BT 450.84 337.70 Td (of ) Tj ET Q q 0 0 0 rg BT 459.13 337.70 Td (our ) Tj ET Q q 0 0 0 rg BT 471.42 337.70 Td (channels ) Tj ET Q q 0 0 0 rg BT 501.04 337.70 Td (are ) Tj ET Q q 0 0 0 rg BT 512.44 337.70 Td (prohibited ) Tj ET Q q 0 0 0 rg BT 546.95 337.70 Td (from ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 328.10 Td (appearing ) Tj ET Q q 0 0 0 rg BT 83.38 328.10 Td (in ) Tj ET Q q 0 0 0 rg BT 91.94 328.10 Td (advertisements. ) Tj ET Q q 0 0 0 rg BT 144.27 328.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 159.05 328.10 Td (channels ) Tj ET Q q 0 0 0 rg BT 189.38 328.10 Td (in ) Tj ET Q q 0 0 0 rg BT 197.94 328.10 Td (Bulgaria ) Tj ET Q q 0 0 0 rg BT 227.82 328.10 Td (are ) Tj ET Q q 0 0 0 rg BT 239.93 328.10 Td (required ) Tj ET Q q 0 0 0 rg BT 268.92 328.10 Td (to ) Tj ET Q q 0 0 0 rg BT 277.48 328.10 Td (comply ) Tj ET Q q 0 0 0 rg BT 303.82 328.10 Td (with ) Tj ET Q q 0 0 0 rg BT 320.38 328.10 Td (several ) Tj ET Q q 0 0 0 rg BT 345.38 328.10 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 383.26 328.10 Td (on ) Tj ET Q q 0 0 0 rg BT 393.60 328.10 Td (programming, ) Tj ET Q q 0 0 0 rg BT 441.49 328.10 Td (including ) Tj ET Q q 0 0 0 rg BT 474.05 328.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 511.93 328.10 Td (on ) Tj ET Q q 0 0 0 rg BT 522.27 328.10 Td (the ) Tj ET Q q 0 0 0 rg BT 534.39 328.10 Td (origin ) Tj ET Q q 0 0 0 rg BT 555.84 328.10 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 318.50 Td (programming. ) Tj ET Q q 0 0 0 rg BT 96.66 318.50 Td (These ) Tj ET Q q 0 0 0 rg BT 117.50 318.50 Td (channels ) Tj ET Q q 0 0 0 rg BT 147.23 318.50 Td (must ) Tj ET Q q 0 0 0 rg BT 164.53 318.50 Td (ensure ) Tj ET Q q 0 0 0 rg BT 187.15 318.50 Td (that ) Tj ET Q q 0 0 0 rg BT 200.89 318.50 Td (50% ) Tj ET Q q 0 0 0 rg BT 217.30 318.50 Td (of ) Tj ET Q q 0 0 0 rg BT 225.70 318.50 Td (a ) Tj ET Q q 0 0 0 rg BT 230.99 318.50 Td (channel's ) Tj ET Q q 0 0 0 rg BT 262.17 318.50 Td (total ) Tj ET Q q 0 0 0 rg BT 278.13 318.50 Td (annual ) Tj ET Q q 0 0 0 rg BT 301.19 318.50 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 333.58 318.50 Td (time ) Tj ET Q q 0 0 0 rg BT 349.54 318.50 Td (consists ) Tj ET Q q 0 0 0 rg BT 376.62 318.50 Td (of ) Tj ET Q q 0 0 0 rg BT 385.03 318.50 Td (EU- ) Tj ET Q q 0 0 0 rg BT 400.10 318.50 Td (or ) Tj ET Q q 0 0 0 rg BT 408.50 318.50 Td (locally-produced ) Tj ET Q q 0 0 0 rg BT 464.44 318.50 Td (programming ) Tj ET Q q 0 0 0 rg BT 509.73 318.50 Td (and ) Tj ET Q q 0 0 0 rg BT 523.02 318.50 Td (12% ) Tj ET Q q 0 0 0 rg BT 539.43 318.50 Td (of ) Tj ET Q q 0 0 0 rg BT 547.83 318.50 Td (such ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 308.90 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 82.36 308.90 Td (time ) Tj ET Q q 0 0 0 rg BT 98.79 308.90 Td (consists ) Tj ET Q q 0 0 0 rg BT 126.34 308.90 Td (of ) Tj ET Q q 0 0 0 rg BT 135.22 308.90 Td (programming ) Tj ET Q q 0 0 0 rg BT 180.98 308.90 Td (produced ) Tj ET Q q 0 0 0 rg BT 212.96 308.90 Td (by ) Tj ET Q q 0 0 0 rg BT 223.17 308.90 Td (independent ) Tj ET Q q 0 0 0 rg BT 264.48 308.90 Td (producers ) Tj ET Q q 0 0 0 rg BT 298.23 308.90 Td (in ) Tj ET Q q 0 0 0 rg BT 306.67 308.90 Td (the ) Tj ET Q q 0 0 0 rg BT 318.65 308.90 Td (EU. ) Tj ET Q q 0 0 0 rg BT 333.53 308.90 Td (News, ) Tj ET Q q 0 0 0 rg BT 355.96 308.90 Td (sports, ) Tj ET Q q 0 0 0 rg BT 379.28 308.90 Td (games ) Tj ET Q q 0 0 0 rg BT 401.93 308.90 Td (and ) Tj ET Q q 0 0 0 rg BT 415.70 308.90 Td (teleshopping ) Tj ET Q q 0 0 0 rg BT 458.79 308.90 Td (programs, ) Tj ET Q q 0 0 0 rg BT 493.22 308.90 Td (as ) Tj ET Q q 0 0 0 rg BT 502.09 308.90 Td (well ) Tj ET Q q 0 0 0 rg BT 518.08 308.90 Td (as ) Tj ET Q q 0 0 0 rg BT 526.95 308.90 Td (advertising ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 299.30 Td (and ) Tj ET Q q 0 0 0 rg BT 63.05 299.30 Td (teletext ) Tj ET Q q 0 0 0 rg BT 88.59 299.30 Td (services, ) Tj ET Q q 0 0 0 rg BT 118.36 299.30 Td (are ) Tj ET Q q 0 0 0 rg BT 130.13 299.30 Td (excluded ) Tj ET Q q 0 0 0 rg BT 161.00 299.30 Td (from ) Tj ET Q q 0 0 0 rg BT 178.55 299.30 Td (these ) Tj ET Q q 0 0 0 rg BT 196.99 299.30 Td (restrictions.) Tj ET Q BT /F1 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 49.5 282.63359375000005 m 73.046875 282.63359375000005 l s q 0 0 0 rg BT 49.50 283.70 Td (Croatia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 73.05 283.70 Td (: ) Tj ET Q q 0 0 0 rg BT 76.65 283.70 Td (In ) Tj ET Q q 0 0 0 rg BT 84.69 283.70 Td (Croatia, ) Tj ET Q q 0 0 0 rg BT 111.62 283.70 Td (privately ) Tj ET Q q 0 0 0 rg BT 141.43 283.70 Td (owned ) Tj ET Q q 0 0 0 rg BT 164.14 283.70 Td (broadcasters ) Tj ET Q q 0 0 0 rg BT 205.50 283.70 Td (are ) Tj ET Q q 0 0 0 rg BT 216.65 283.70 Td (permitted ) Tj ET Q q 0 0 0 rg BT 248.68 283.70 Td (to ) Tj ET Q q 0 0 0 rg BT 256.29 283.70 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 288.32 283.70 Td (advertising ) Tj ET Q q 0 0 0 rg BT 325.25 283.70 Td (for ) Tj ET Q q 0 0 0 rg BT 335.95 283.70 Td (up ) Tj ET Q q 0 0 0 rg BT 345.33 283.70 Td (to ) Tj ET Q q 0 0 0 rg BT 352.94 283.70 Td (12 ) Tj ET Q q 0 0 0 rg BT 362.32 283.70 Td (minutes ) Tj ET Q q 0 0 0 rg BT 389.03 283.70 Td (per ) Tj ET Q q 0 0 0 rg BT 400.62 283.70 Td (hour ) Tj ET Q q 0 0 0 rg BT 416.67 283.70 Td (with ) Tj ET Q q 0 0 0 rg BT 432.27 283.70 Td (no ) Tj ET Q q 0 0 0 rg BT 441.65 283.70 Td (daily ) Tj ET Q q 0 0 0 rg BT 459.02 283.70 Td (limit, ) Tj ET Q q 0 0 0 rg BT 477.52 283.70 Td (and ) Tj ET Q q 0 0 0 rg BT 490.45 283.70 Td (direct ) Tj ET Q q 0 0 0 rg BT 510.04 283.70 Td (sales ) Tj ET Q q 0 0 0 rg BT 526.97 283.70 Td (advertising ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 274.10 Td (has ) Tj ET Q q 0 0 0 rg BT 61.71 274.10 Td (to ) Tj ET Q q 0 0 0 rg BT 69.49 274.10 Td (last ) Tj ET Q q 0 0 0 rg BT 82.15 274.10 Td (continuously ) Tj ET Q q 0 0 0 rg BT 125.03 274.10 Td (for ) Tj ET Q q 0 0 0 rg BT 135.91 274.10 Td (at ) Tj ET Q q 0 0 0 rg BT 143.23 274.10 Td (least ) Tj ET Q q 0 0 0 rg BT 159.44 274.10 Td (15 ) Tj ET Q q 0 0 0 rg BT 168.99 274.10 Td (minutes. ) Tj ET Q q 0 0 0 rg BT 197.53 274.10 Td (Additional ) Tj ET Q q 0 0 0 rg BT 233.30 274.10 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 270.39 274.10 Td (apply ) Tj ET Q q 0 0 0 rg BT 289.72 274.10 Td (to ) Tj ET Q q 0 0 0 rg BT 297.49 274.10 Td (children's ) Tj ET Q q 0 0 0 rg BT 329.80 274.10 Td (programming ) Tj ET Q q 0 0 0 rg BT 374.90 274.10 Td (and ) Tj ET Q q 0 0 0 rg BT 388.00 274.10 Td (movies. ) Tj ET Q q 0 0 0 rg BT 414.55 274.10 Td (The ) Tj ET Q q 0 0 0 rg BT 428.54 274.10 Td (public ) Tj ET Q q 0 0 0 rg BT 450.08 274.10 Td (broadcaster ) Tj ET Q q 0 0 0 rg BT 488.50 274.10 Td (HR) Tj ET Q q 0 0 0 rg BT 499.13 274.10 Td (T) Tj ET Q q 0 0 0 rg BT 503.42 274.10 Td (, ) Tj ET Q q 0 0 0 rg BT 506.97 274.10 Td (which ) Tj ET Q q 0 0 0 rg BT 528.08 274.10 Td (is ) Tj ET Q q 0 0 0 rg BT 534.96 274.10 Td (financed ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 264.50 Td (through ) Tj ET Q q 0 0 0 rg BT 76.33 264.50 Td (a ) Tj ET Q q 0 0 0 rg BT 81.82 264.50 Td (compulsory ) Tj ET Q q 0 0 0 rg BT 121.53 264.50 Td (television ) Tj ET Q q 0 0 0 rg BT 154.57 264.50 Td (license ) Tj ET Q q 0 0 0 rg BT 178.72 264.50 Td (fee, ) Tj ET Q q 0 0 0 rg BT 192.43 264.50 Td (is ) Tj ET Q q 0 0 0 rg BT 199.71 264.50 Td (restricted ) Tj ET Q q 0 0 0 rg BT 231.41 264.50 Td (to ) Tj ET Q q 0 0 0 rg BT 239.57 264.50 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 282.38 264.50 Td (nine ) Tj ET Q q 0 0 0 rg BT 298.10 264.50 Td (minutes ) Tj ET Q q 0 0 0 rg BT 325.37 264.50 Td (of ) Tj ET Q q 0 0 0 rg BT 333.97 264.50 Td (advertising ) Tj ET Q q 0 0 0 rg BT 371.46 264.50 Td (per ) Tj ET Q q 0 0 0 rg BT 383.61 264.50 Td (hour ) Tj ET Q q 0 0 0 rg BT 400.21 264.50 Td (generally ) Tj ET Q q 0 0 0 rg BT 431.92 264.50 Td (and ) Tj ET Q q 0 0 0 rg BT 445.41 264.50 Td (four ) Tj ET Q q 0 0 0 rg BT 460.67 264.50 Td (minutes ) Tj ET Q q 0 0 0 rg BT 487.95 264.50 Td (per ) Tj ET Q q 0 0 0 rg BT 500.10 264.50 Td (hour ) Tj ET Q q 0 0 0 rg BT 516.70 264.50 Td (from ) Tj ET Q q 0 0 0 rg BT 534.19 264.50 Td (6 ) Tj ET Q q 0 0 0 rg BT 540.13 264.50 Td (p.m. ) Tj ET Q q 0 0 0 rg BT 556.29 264.50 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 254.90 Td (10 ) Tj ET Q q 0 0 0 rg BT 59.76 254.90 Td (p.m. ) Tj ET Q q 0 0 0 rg BT 76.25 254.90 Td (HR) Tj ET Q q 0 0 0 rg BT 86.88 254.90 Td (T) Tj ET Q q 0 0 0 rg BT 91.63 254.90 Td ( ) Tj ET Q q 0 0 0 rg BT 93.89 254.90 Td (is ) Tj ET Q q 0 0 0 rg BT 101.49 254.90 Td (not ) Tj ET Q q 0 0 0 rg BT 113.97 254.90 Td (permitted ) Tj ET Q q 0 0 0 rg BT 146.89 254.90 Td (to ) Tj ET Q q 0 0 0 rg BT 155.38 254.90 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 188.30 254.90 Td (spots ) Tj ET Q q 0 0 0 rg BT 207.01 254.90 Td (for ) Tj ET Q q 0 0 0 rg BT 218.60 254.90 Td (teleshopping. ) Tj ET Q q 0 0 0 rg BT 263.58 254.90 Td (There ) Tj ET Q q 0 0 0 rg BT 284.50 254.90 Td (are ) Tj ET Q q 0 0 0 rg BT 296.53 254.90 Td (other ) Tj ET Q q 0 0 0 rg BT 315.23 254.90 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 353.04 254.90 Td (that ) Tj ET Q q 0 0 0 rg BT 367.30 254.90 Td (relate ) Tj ET Q q 0 0 0 rg BT 387.33 254.90 Td (to ) Tj ET Q q 0 0 0 rg BT 395.81 254.90 Td (advertising ) Tj ET Q q 0 0 0 rg BT 433.62 254.90 Td (content, ) Tj ET Q q 0 0 0 rg BT 461.43 254.90 Td (including ) Tj ET Q q 0 0 0 rg BT 493.92 254.90 Td (a ) Tj ET Q q 0 0 0 rg BT 499.73 254.90 Td (ban ) Tj ET Q q 0 0 0 rg BT 513.55 254.90 Td (on ) Tj ET Q q 0 0 0 rg BT 523.81 254.90 Td (tobacco ) Tj ET Q q 0 0 0 rg BT 550.95 254.90 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 245.30 Td (alcohol ) Tj ET Q q 0 0 0 rg BT 75.45 245.30 Td (advertising. ) Tj ET Q q 0 0 0 rg BT 115.40 245.30 Td (NOV) Tj ET Q q 0 0 0 rg BT 131.70 245.30 Td (A) Tj ET Q q 0 0 0 rg BT 137.03 245.30 Td ( ) Tj ET Q q 0 0 0 rg BT 139.26 245.30 Td (TV) Tj ET Q q 0 0 0 rg BT 149.78 245.30 Td ( ) Tj ET Q q 0 0 0 rg BT 152.18 245.30 Td (\(Croatia\) ) Tj ET Q q 0 0 0 rg BT 183.46 245.30 Td (is ) Tj ET Q q 0 0 0 rg BT 191.20 245.30 Td (required ) Tj ET Q q 0 0 0 rg BT 220.25 245.30 Td (to ) Tj ET Q q 0 0 0 rg BT 228.87 245.30 Td (comply ) Tj ET Q q 0 0 0 rg BT 255.27 245.30 Td (with ) Tj ET Q q 0 0 0 rg BT 271.90 245.30 Td (several ) Tj ET Q q 0 0 0 rg BT 296.95 245.30 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 334.90 245.30 Td (on ) Tj ET Q q 0 0 0 rg BT 345.30 245.30 Td (programming, ) Tj ET Q q 0 0 0 rg BT 393.25 245.30 Td (including ) Tj ET Q q 0 0 0 rg BT 425.87 245.30 Td (regulations ) Tj ET Q q 0 0 0 rg BT 463.81 245.30 Td (on ) Tj ET Q q 0 0 0 rg BT 474.22 245.30 Td (the ) Tj ET Q q 0 0 0 rg BT 486.39 245.30 Td (origin ) Tj ET Q q 0 0 0 rg BT 507.90 245.30 Td (of ) Tj ET Q q 0 0 0 rg BT 516.97 245.30 Td (programming. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 235.70 Td (These ) Tj ET Q q 0 0 0 rg BT 70.67 235.70 Td (include ) Tj ET Q q 0 0 0 rg BT 96.29 235.70 Td (the ) Tj ET Q q 0 0 0 rg BT 108.14 235.70 Td (requirement ) Tj ET Q q 0 0 0 rg BT 148.86 235.70 Td (that ) Tj ET Q q 0 0 0 rg BT 162.93 235.70 Td (20% ) Tj ET Q q 0 0 0 rg BT 179.66 235.70 Td (of ) Tj ET Q q 0 0 0 rg BT 188.40 235.70 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 221.13 235.70 Td (time ) Tj ET Q q 0 0 0 rg BT 237.42 235.70 Td (consists ) Tj ET Q q 0 0 0 rg BT 264.82 235.70 Td (of ) Tj ET Q q 0 0 0 rg BT 273.56 235.70 Td (locally ) Tj ET Q q 0 0 0 rg BT 297.40 235.70 Td (produced ) Tj ET Q q 0 0 0 rg BT 329.24 235.70 Td (programming ) Tj ET Q q 0 0 0 rg BT 374.86 235.70 Td (and ) Tj ET Q q 0 0 0 rg BT 388.48 235.70 Td (50% ) Tj ET Q q 0 0 0 rg BT 405.22 235.70 Td (of ) Tj ET Q q 0 0 0 rg BT 413.96 235.70 Td (such ) Tj ET Q q 0 0 0 rg BT 430.69 235.70 Td (locally ) Tj ET Q q 0 0 0 rg BT 454.53 235.70 Td (produced ) Tj ET Q q 0 0 0 rg BT 486.37 235.70 Td (programming ) Tj ET Q q 0 0 0 rg BT 531.99 235.70 Td (be ) Tj ET Q q 0 0 0 rg BT 541.61 235.70 Td (shown ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 226.10 Td (during ) Tj ET Q q 0 0 0 rg BT 72.39 226.10 Td (prime ) Tj ET Q q 0 0 0 rg BT 93.05 226.10 Td (time ) Tj ET Q q 0 0 0 rg BT 109.27 226.10 Td (\(between ) Tj ET Q q 0 0 0 rg BT 140.58 226.10 Td (4:00 ) Tj ET Q q 0 0 0 rg BT 156.80 226.10 Td (p.m. ) Tj ET Q q 0 0 0 rg BT 173.03 226.10 Td (and ) Tj ET Q q 0 0 0 rg BT 186.58 226.10 Td (10:00 ) Tj ET Q q 0 0 0 rg BT 206.80 226.10 Td (p.m.\). ) Tj ET Q q 0 0 0 rg BT 227.54 226.10 Td (These ) Tj ET Q q 0 0 0 rg BT 248.64 226.10 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 286.19 226.10 Td (are ) Tj ET Q q 0 0 0 rg BT 297.96 226.10 Td (not ) Tj ET Q q 0 0 0 rg BT 310.18 226.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 345.05 226.10 Td (to ) Tj ET Q q 0 0 0 rg BT 353.27 226.10 Td (DOMA) Tj ET Q q 0 0 0 rg BT 377.28 226.10 Td ( ) Tj ET Q q 0 0 0 rg BT 379.28 226.10 Td (\(Croatia\).) Tj ET Q BT /F1 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 49.5 209.43359375 m 100.63671875 209.43359375 l s q 0 0 0 rg BT 49.50 210.50 Td (Czech ) Tj ET Q q 0 0 0 rg BT 71.75 210.50 Td (Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 100.64 210.50 Td (: ) Tj ET Q q 0 0 0 rg BT 105.13 210.50 Td (Privately ) Tj ET Q q 0 0 0 rg BT 136.27 210.50 Td (owned ) Tj ET Q q 0 0 0 rg BT 159.87 210.50 Td (broadcasters ) Tj ET Q q 0 0 0 rg BT 202.11 210.50 Td (in ) Tj ET Q q 0 0 0 rg BT 210.60 210.50 Td (the ) Tj ET Q q 0 0 0 rg BT 222.64 210.50 Td (Czech ) Tj ET Q q 0 0 0 rg BT 244.89 210.50 Td (Republic ) Tj ET Q q 0 0 0 rg BT 276.04 210.50 Td (are ) Tj ET Q q 0 0 0 rg BT 288.07 210.50 Td (permitted ) Tj ET Q q 0 0 0 rg BT 321.00 210.50 Td (to ) Tj ET Q q 0 0 0 rg BT 329.48 210.50 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 362.40 210.50 Td (advertising ) Tj ET Q q 0 0 0 rg BT 400.21 210.50 Td (for ) Tj ET Q q 0 0 0 rg BT 411.81 210.50 Td (up ) Tj ET Q q 0 0 0 rg BT 422.07 210.50 Td (to ) Tj ET Q q 0 0 0 rg BT 430.56 210.50 Td (12 ) Tj ET Q q 0 0 0 rg BT 440.83 210.50 Td (minutes ) Tj ET Q q 0 0 0 rg BT 468.43 210.50 Td (per ) Tj ET Q q 0 0 0 rg BT 480.91 210.50 Td (hour) Tj ET Q q 0 0 0 rg BT 495.13 210.50 Td (. ) Tj ET Q q 0 0 0 rg BT 499.39 210.50 Td (In ) Tj ET Q q 0 0 0 rg BT 508.32 210.50 Td (September ) Tj ET Q q 0 0 0 rg BT 544.80 210.50 Td (201) Tj ET Q q 0 0 0 rg BT 556.50 210.50 Td (1, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 200.90 Td (legislation ) Tj ET Q q 0 0 0 rg BT 85.04 200.90 Td (was ) Tj ET Q q 0 0 0 rg BT 99.70 200.90 Td (implemented ) Tj ET Q q 0 0 0 rg BT 143.68 200.90 Td (in ) Tj ET Q q 0 0 0 rg BT 152.12 200.90 Td (the ) Tj ET Q q 0 0 0 rg BT 164.11 200.90 Td (Czech ) Tj ET Q q 0 0 0 rg BT 186.31 200.90 Td (Republic ) Tj ET Q q 0 0 0 rg BT 217.41 200.90 Td (which ) Tj ET Q q 0 0 0 rg BT 239.17 200.90 Td (restricts ) Tj ET Q q 0 0 0 rg BT 266.71 200.90 Td (the ) Tj ET Q q 0 0 0 rg BT 278.70 200.90 Td (amount ) Tj ET Q q 0 0 0 rg BT 304.91 200.90 Td (of ) Tj ET Q q 0 0 0 rg BT 313.79 200.90 Td (advertising ) Tj ET Q q 0 0 0 rg BT 351.55 200.90 Td (that ) Tj ET Q q 0 0 0 rg BT 365.76 200.90 Td (may ) Tj ET Q q 0 0 0 rg BT 381.75 200.90 Td (be ) Tj ET Q q 0 0 0 rg BT 391.52 200.90 Td (shown ) Tj ET Q q 0 0 0 rg BT 414.62 200.90 Td (on ) Tj ET Q q 0 0 0 rg BT 424.84 200.90 Td (the ) Tj ET Q q 0 0 0 rg BT 436.82 200.90 Td (channels ) Tj ET Q q 0 0 0 rg BT 467.03 200.90 Td (of ) Tj ET Q q 0 0 0 rg BT 475.91 200.90 Td (the ) Tj ET Q q 0 0 0 rg BT 487.89 200.90 Td (public ) Tj ET Q q 0 0 0 rg BT 510.11 200.90 Td (broadcaster) Tj ET Q q 0 0 0 rg BT 546.65 200.90 Td (, ) Tj ET Q q 0 0 0 rg BT 550.87 200.90 Td (CT) Tj ET Q q 0 0 0 rg BT 560.50 200.90 Td (. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 191.30 Td (Pursuant ) Tj ET Q q 0 0 0 rg BT 79.54 191.30 Td (to ) Tj ET Q q 0 0 0 rg BT 87.80 191.30 Td (the ) Tj ET Q q 0 0 0 rg BT 99.62 191.30 Td (regulation, ) Tj ET Q q 0 0 0 rg BT 136.09 191.30 Td (no ) Tj ET Q q 0 0 0 rg BT 146.13 191.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 183.72 191.30 Td (may ) Tj ET Q q 0 0 0 rg BT 199.54 191.30 Td (be ) Tj ET Q q 0 0 0 rg BT 209.13 191.30 Td (shown ) Tj ET Q q 0 0 0 rg BT 232.06 191.30 Td (on ) Tj ET Q q 0 0 0 rg BT 242.10 191.30 Td (the ) Tj ET Q q 0 0 0 rg BT 253.92 191.30 Td (public ) Tj ET Q q 0 0 0 rg BT 275.95 191.30 Td (channels ) Tj ET Q q 0 0 0 rg BT 305.98 191.30 Td (CT) Tj ET Q q 0 0 0 rg BT 316.06 191.30 Td ( ) Tj ET Q q 0 0 0 rg BT 318.10 191.30 Td (1 ) Tj ET Q q 0 0 0 rg BT 324.14 191.30 Td (and ) Tj ET Q q 0 0 0 rg BT 337.73 191.30 Td (CT) Tj ET Q q 0 0 0 rg BT 347.81 191.30 Td ( ) Tj ET Q q 0 0 0 rg BT 349.85 191.30 Td (24, ) Tj ET Q q 0 0 0 rg BT 361.89 191.30 Td (while ) Tj ET Q q 0 0 0 rg BT 381.71 191.30 Td (the ) Tj ET Q q 0 0 0 rg BT 393.52 191.30 Td (channels ) Tj ET Q q 0 0 0 rg BT 423.55 191.30 Td (CT) Tj ET Q q 0 0 0 rg BT 433.63 191.30 Td ( ) Tj ET Q q 0 0 0 rg BT 435.67 191.30 Td (4 ) Tj ET Q q 0 0 0 rg BT 441.71 191.30 Td (and ) Tj ET Q q 0 0 0 rg BT 455.30 191.30 Td (CT) Tj ET Q q 0 0 0 rg BT 465.38 191.30 Td ( ) Tj ET Q q 0 0 0 rg BT 467.42 191.30 Td (2 ) Tj ET Q q 0 0 0 rg BT 473.46 191.30 Td (may ) Tj ET Q q 0 0 0 rg BT 489.28 191.30 Td (show ) Tj ET Q q 0 0 0 rg BT 508.21 191.30 Td (a ) Tj ET Q q 0 0 0 rg BT 513.80 191.30 Td (limited ) Tj ET Q q 0 0 0 rg BT 538.51 191.30 Td (amount ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 181.70 Td (of ) Tj ET Q q 0 0 0 rg BT 58.25 181.70 Td (advertising. ) Tj ET Q q 0 0 0 rg BT 97.42 181.70 Td (Also ) Tj ET Q q 0 0 0 rg BT 114.61 181.70 Td (included ) Tj ET Q q 0 0 0 rg BT 144.24 181.70 Td (in ) Tj ET Q q 0 0 0 rg BT 152.55 181.70 Td (the ) Tj ET Q q 0 0 0 rg BT 164.41 181.70 Td (legislation ) Tj ET Q q 0 0 0 rg BT 199.82 181.70 Td (is ) Tj ET Q q 0 0 0 rg BT 207.24 181.70 Td (the ) Tj ET Q q 0 0 0 rg BT 219.09 181.70 Td (requirement ) Tj ET Q q 0 0 0 rg BT 259.82 181.70 Td (that ) Tj ET Q q 0 0 0 rg BT 273.90 181.70 Td (national ) Tj ET Q q 0 0 0 rg BT 301.75 181.70 Td (private ) Tj ET Q q 0 0 0 rg BT 326.05 181.70 Td (broadcasters ) Tj ET Q q 0 0 0 rg BT 368.11 181.70 Td (must ) Tj ET Q q 0 0 0 rg BT 385.75 181.70 Td (contribute ) Tj ET Q q 0 0 0 rg BT 420.27 181.70 Td (annually ) Tj ET Q q 0 0 0 rg BT 449.90 181.70 Td (to ) Tj ET Q q 0 0 0 rg BT 458.21 181.70 Td (a ) Tj ET Q q 0 0 0 rg BT 463.84 181.70 Td (Czech ) Tj ET Q q 0 0 0 rg BT 485.91 181.70 Td (cinematography ) Tj ET Q q 0 0 0 rg BT 539.53 181.70 Td (fund ) Tj ET Q q 0 0 0 rg BT 556.28 181.70 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 172.10 Td (an ) Tj ET Q q 0 0 0 rg BT 58.75 172.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 84.44 172.10 Td (equal ) Tj ET Q q 0 0 0 rg BT 103.45 172.10 Td (to ) Tj ET Q q 0 0 0 rg BT 111.37 172.10 Td (2% ) Tj ET Q q 0 0 0 rg BT 123.73 172.10 Td (of ) Tj ET Q q 0 0 0 rg BT 132.09 172.10 Td (their ) Tj ET Q q 0 0 0 rg BT 148.44 172.10 Td (net ) Tj ET Q q 0 0 0 rg BT 159.91 172.10 Td (advertising ) Tj ET Q q 0 0 0 rg BT 197.15 172.10 Td (revenues. ) Tj ET Q q 0 0 0 rg BT 229.15 172.10 Td (W) Tj ET Q q 0 0 0 rg BT 236.06 172.10 Td (e ) Tj ET Q q 0 0 0 rg BT 241.31 172.10 Td (are ) Tj ET Q q 0 0 0 rg BT 252.77 172.10 Td (entitled ) Tj ET Q q 0 0 0 rg BT 278.45 172.10 Td (to ) Tj ET Q q 0 0 0 rg BT 286.37 172.10 Td (apply ) Tj ET Q q 0 0 0 rg BT 305.84 172.10 Td (for ) Tj ET Q q 0 0 0 rg BT 316.86 172.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 348.77 172.10 Td (from ) Tj ET Q q 0 0 0 rg BT 366.01 172.10 Td (the ) Tj ET Q q 0 0 0 rg BT 377.48 172.10 Td (fund. ) Tj ET Q q 0 0 0 rg BT 395.84 172.10 Td (In ) Tj ET Q q 0 0 0 rg BT 404.20 172.10 Td (the ) Tj ET Q q 0 0 0 rg BT 415.66 172.10 Td (Czech ) Tj ET Q q 0 0 0 rg BT 437.35 172.10 Td (Republic, ) Tj ET Q q 0 0 0 rg BT 469.92 172.10 Td (all ) Tj ET Q q 0 0 0 rg BT 479.61 172.10 Td (broadcasters ) Tj ET Q q 0 0 0 rg BT 521.29 172.10 Td (are ) Tj ET Q q 0 0 0 rg BT 532.75 172.10 Td (restricted ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 162.50 Td (with ) Tj ET Q q 0 0 0 rg BT 65.27 162.50 Td (respect ) Tj ET Q q 0 0 0 rg BT 89.47 162.50 Td (to ) Tj ET Q q 0 0 0 rg BT 97.24 162.50 Td (the ) Tj ET Q q 0 0 0 rg BT 108.57 162.50 Td (frequency ) Tj ET Q q 0 0 0 rg BT 142.10 162.50 Td (of ) Tj ET Q q 0 0 0 rg BT 150.31 162.50 Td (advertising ) Tj ET Q q 0 0 0 rg BT 187.40 162.50 Td (breaks ) Tj ET Q q 0 0 0 rg BT 209.83 162.50 Td (during ) Tj ET Q q 0 0 0 rg BT 232.27 162.50 Td (and ) Tj ET Q q 0 0 0 rg BT 245.37 162.50 Td (between ) Tj ET Q q 0 0 0 rg BT 273.57 162.50 Td (programs, ) Tj ET Q q 0 0 0 rg BT 307.33 162.50 Td (as ) Tj ET Q q 0 0 0 rg BT 315.54 162.50 Td (well ) Tj ET Q q 0 0 0 rg BT 330.87 162.50 Td (as ) Tj ET Q q 0 0 0 rg BT 339.08 162.50 Td (being ) Tj ET Q q 0 0 0 rg BT 358.40 162.50 Td (subject ) Tj ET Q q 0 0 0 rg BT 382.61 162.50 Td (to ) Tj ET Q q 0 0 0 rg BT 390.38 162.50 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 427.48 162.50 Td (that ) Tj ET Q q 0 0 0 rg BT 441.02 162.50 Td (relate ) Tj ET Q q 0 0 0 rg BT 460.33 162.50 Td (to ) Tj ET Q q 0 0 0 rg BT 468.11 162.50 Td (advertising ) Tj ET Q q 0 0 0 rg BT 505.20 162.50 Td (content, ) Tj ET Q q 0 0 0 rg BT 532.30 162.50 Td (including ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 152.90 Td (a ) Tj ET Q q 0 0 0 rg BT 55.05 152.90 Td (ban ) Tj ET Q q 0 0 0 rg BT 68.60 152.90 Td (on ) Tj ET Q q 0 0 0 rg BT 78.60 152.90 Td (tobacco ) Tj ET Q q 0 0 0 rg BT 105.48 152.90 Td (advertising ) Tj ET Q q 0 0 0 rg BT 143.02 152.90 Td (and ) Tj ET Q q 0 0 0 rg BT 156.57 152.90 Td (limitations ) Tj ET Q q 0 0 0 rg BT 192.80 152.90 Td (on ) Tj ET Q q 0 0 0 rg BT 202.80 152.90 Td (advertisements ) Tj ET Q q 0 0 0 rg BT 252.78 152.90 Td (of ) Tj ET Q q 0 0 0 rg BT 261.45 152.90 Td (alcoholic ) Tj ET Q q 0 0 0 rg BT 292.77 152.90 Td (beverages, ) Tj ET Q q 0 0 0 rg BT 328.75 152.90 Td (pharmaceuticals, ) Tj ET Q q 0 0 0 rg BT 384.72 152.90 Td (firearms ) Tj ET Q q 0 0 0 rg BT 413.37 152.90 Td (and ) Tj ET Q q 0 0 0 rg BT 426.92 152.90 Td (munitions.) Tj ET Q BT /F1 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 49.5 136.23359374999995 m 78.3828125 136.23359374999995 l s q 0 0 0 rg BT 49.50 137.30 Td (Romania) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 78.38 137.30 Td (: ) Tj ET Q q 0 0 0 rg BT 82.84 137.30 Td (Privately ) Tj ET Q q 0 0 0 rg BT 113.95 137.30 Td (owned ) Tj ET Q q 0 0 0 rg BT 137.51 137.30 Td (broadcasters ) Tj ET Q q 0 0 0 rg BT 179.72 137.30 Td (in ) Tj ET Q q 0 0 0 rg BT 188.18 137.30 Td (Romania ) Tj ET Q q 0 0 0 rg BT 219.29 137.30 Td (are ) Tj ET Q q 0 0 0 rg BT 231.29 137.30 Td (permitted ) Tj ET Q q 0 0 0 rg BT 264.18 137.30 Td (to ) Tj ET Q q 0 0 0 rg BT 272.63 137.30 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 305.51 137.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 343.29 137.30 Td (and ) Tj ET Q q 0 0 0 rg BT 357.07 137.30 Td (direct ) Tj ET Q q 0 0 0 rg BT 377.52 137.30 Td (sales ) Tj ET Q q 0 0 0 rg BT 395.30 137.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 433.08 137.30 Td (for ) Tj ET Q q 0 0 0 rg BT 444.64 137.30 Td (up ) Tj ET Q q 0 0 0 rg BT 454.87 137.30 Td (to ) Tj ET Q q 0 0 0 rg BT 463.32 137.30 Td (12 ) Tj ET Q q 0 0 0 rg BT 473.55 137.30 Td (minutes ) Tj ET Q q 0 0 0 rg BT 501.12 137.30 Td (per ) Tj ET Q q 0 0 0 rg BT 513.56 137.30 Td (hour) Tj ET Q q 0 0 0 rg BT 527.79 137.30 Td (. ) Tj ET Q q 0 0 0 rg BT 531.86 137.30 Td (There ) Tj ET Q q 0 0 0 rg BT 552.74 137.30 Td (are ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 127.70 Td (also ) Tj ET Q q 0 0 0 rg BT 64.72 127.70 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 102.61 127.70 Td (on ) Tj ET Q q 0 0 0 rg BT 112.95 127.70 Td (the ) Tj ET Q q 0 0 0 rg BT 125.06 127.70 Td (frequency ) Tj ET Q q 0 0 0 rg BT 159.38 127.70 Td (of ) Tj ET Q q 0 0 0 rg BT 168.38 127.70 Td (advertising ) Tj ET Q q 0 0 0 rg BT 206.26 127.70 Td (breaks ) Tj ET Q q 0 0 0 rg BT 229.48 127.70 Td (\(for ) Tj ET Q q 0 0 0 rg BT 243.81 127.70 Td (example, ) Tj ET Q q 0 0 0 rg BT 275.25 127.70 Td (news ) Tj ET Q q 0 0 0 rg BT 294.03 127.70 Td (and ) Tj ET Q q 0 0 0 rg BT 307.91 127.70 Td (children's ) Tj ET Q q 0 0 0 rg BT 341.02 127.70 Td (programs ) Tj ET Q q 0 0 0 rg BT 373.57 127.70 Td (shorter ) Tj ET Q q 0 0 0 rg BT 398.12 127.70 Td (than ) Tj ET Q q 0 0 0 rg BT 414.23 127.70 Td (30 ) Tj ET Q q 0 0 0 rg BT 424.57 127.70 Td (minutes ) Tj ET Q q 0 0 0 rg BT 452.24 127.70 Td (cannot ) Tj ET Q q 0 0 0 rg BT 475.90 127.70 Td (be ) Tj ET Q q 0 0 0 rg BT 485.79 127.70 Td (interrupted\). ) Tj ET Q q 0 0 0 rg BT 527.72 127.70 Td (The ) Tj ET Q q 0 0 0 rg BT 542.50 127.70 Td (public ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 118.10 Td (broadcaster) Tj ET Q q 0 0 0 rg BT 86.05 118.10 Td (, ) Tj ET Q q 0 0 0 rg BT 90.32 118.10 Td (TVR, ) Tj ET Q q 0 0 0 rg BT 110.77 118.10 Td (which ) Tj ET Q q 0 0 0 rg BT 132.77 118.10 Td (is ) Tj ET Q q 0 0 0 rg BT 140.55 118.10 Td (financed ) Tj ET Q q 0 0 0 rg BT 170.54 118.10 Td (through ) Tj ET Q q 0 0 0 rg BT 197.87 118.10 Td (a ) Tj ET Q q 0 0 0 rg BT 203.87 118.10 Td (compulsory ) Tj ET Q q 0 0 0 rg BT 244.09 118.10 Td (television ) Tj ET Q q 0 0 0 rg BT 277.65 118.10 Td (license ) Tj ET Q q 0 0 0 rg BT 302.31 118.10 Td (fee, ) Tj ET Q q 0 0 0 rg BT 316.52 118.10 Td (is ) Tj ET Q q 0 0 0 rg BT 324.30 118.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 356.51 118.10 Td (to ) Tj ET Q q 0 0 0 rg BT 365.18 118.10 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 408.51 118.10 Td (advertising ) Tj ET Q q 0 0 0 rg BT 446.50 118.10 Td (for ) Tj ET Q q 0 0 0 rg BT 458.28 118.10 Td (eight ) Tj ET Q q 0 0 0 rg BT 476.72 118.10 Td (minutes ) Tj ET Q q 0 0 0 rg BT 504.50 118.10 Td (per ) Tj ET Q q 0 0 0 rg BT 517.17 118.10 Td (hour ) Tj ET Q q 0 0 0 rg BT 534.28 118.10 Td (and ) Tj ET Q q 0 0 0 rg BT 548.28 118.10 Td (only ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 108.50 Td (between ) Tj ET Q q 0 0 0 rg BT 77.80 108.50 Td (programs. ) Tj ET Q q 0 0 0 rg BT 111.66 108.50 Td (Further ) Tj ET Q q 0 0 0 rg BT 136.86 108.50 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 174.05 108.50 Td (relate ) Tj ET Q q 0 0 0 rg BT 193.46 108.50 Td (to ) Tj ET Q q 0 0 0 rg BT 201.33 108.50 Td (advertising ) Tj ET Q q 0 0 0 rg BT 238.52 108.50 Td (content, ) Tj ET Q q 0 0 0 rg BT 265.71 108.50 Td (including ) Tj ET Q q 0 0 0 rg BT 297.58 108.50 Td (a ) Tj ET Q q 0 0 0 rg BT 302.78 108.50 Td (ban ) Tj ET Q q 0 0 0 rg BT 315.97 108.50 Td (on ) Tj ET Q q 0 0 0 rg BT 325.62 108.50 Td (tobacco ) Tj ET Q q 0 0 0 rg BT 352.14 108.50 Td (advertising ) Tj ET Q q 0 0 0 rg BT 389.34 108.50 Td (and ) Tj ET Q q 0 0 0 rg BT 402.53 108.50 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 439.73 108.50 Td (on ) Tj ET Q q 0 0 0 rg BT 449.37 108.50 Td (alcohol ) Tj ET Q q 0 0 0 rg BT 474.57 108.50 Td (advertising, ) Tj ET Q q 0 0 0 rg BT 513.76 108.50 Td (and ) Tj ET Q q 0 0 0 rg BT 526.96 108.50 Td (regulations ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 98.90 Td (on ) Tj ET Q q 0 0 0 rg BT 59.43 98.90 Td (advertising ) Tj ET Q q 0 0 0 rg BT 96.91 98.90 Td (tar) Tj ET Q q 0 0 0 rg BT 105.21 98.90 Td (geted ) Tj ET Q q 0 0 0 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Tj ET Q q 0 0 0 rg BT 460.50 656.30 Td (of ) Tj ET Q q 0 0 0 rg BT 469.30 656.30 Td (a ) Tj ET Q q 0 0 0 rg BT 475.00 656.30 Td (station's ) Tj ET Q q 0 0 0 rg BT 503.03 656.30 Td (monthly ) Tj ET Q q 0 0 0 rg BT 531.85 656.30 Td (broadcast ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 646.70 Td (time ) Tj ET Q q 0 0 0 rg BT 65.72 646.70 Td (must ) Tj ET Q q 0 0 0 rg BT 83.28 646.70 Td (be ) Tj ET Q q 0 0 0 rg BT 92.83 646.70 Td (European ) Tj ET Q q 0 0 0 rg BT 125.48 646.70 Td (audio-visual ) Tj ET Q q 0 0 0 rg BT 167.03 646.70 Td (works ) Tj ET Q q 0 0 0 rg BT 188.58 646.70 Td (produced ) Tj ET Q q 0 0 0 rg BT 220.35 646.70 Td (by ) Tj ET Q q 0 0 0 rg BT 230.35 646.70 Td (independent ) Tj ET Q q 0 0 0 rg BT 271.45 646.70 Td (producers, ) Tj ET Q q 0 0 0 rg BT 306.99 646.70 Td (at ) Tj ET Q q 0 0 0 rg BT 314.76 646.70 Td (least ) Tj ET Q q 0 0 0 rg BT 331.42 646.70 Td (10% ) Tj ET Q q 0 0 0 rg BT 348.09 646.70 Td (of ) Tj ET Q q 0 0 0 rg BT 356.75 646.70 Td (which ) Tj ET Q q 0 0 0 rg BT 378.30 646.70 Td (must ) Tj ET Q q 0 0 0 rg BT 395.86 646.70 Td (be ) Tj ET Q q 0 0 0 rg BT 405.41 646.70 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 438.06 646.70 Td (within ) Tj ET Q q 0 0 0 rg BT 460.51 646.70 Td (five ) Tj ET Q q 0 0 0 rg BT 474.95 646.70 Td (years ) Tj ET Q q 0 0 0 rg BT 493.82 646.70 Td (of ) Tj ET Q q 0 0 0 rg BT 502.49 646.70 Td (production.) Tj ET Q BT /F1 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 49.5 630.03359375 m 77.49609375 630.03359375 l s q 0 0 0 rg BT 49.50 631.10 Td (Slovenia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 77.50 631.10 Td (: ) Tj ET Q q 0 0 0 rg BT 81.68 631.10 Td (Privately ) Tj ET Q q 0 0 0 rg BT 112.53 631.10 Td (owned ) Tj ET Q q 0 0 0 rg BT 135.82 631.10 Td (broadcasters ) Tj ET Q q 0 0 0 rg BT 177.77 631.10 Td (in ) Tj ET Q q 0 0 0 rg BT 185.96 631.10 Td (Slovenia ) Tj ET Q q 0 0 0 rg BT 215.92 631.10 Td (are ) Tj ET Q q 0 0 0 rg BT 227.65 631.10 Td (allowed ) Tj ET Q q 0 0 0 rg BT 254.94 631.10 Td (to ) Tj ET Q q 0 0 0 rg BT 263.13 631.10 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 295.74 631.10 Td (advertising ) Tj ET Q q 0 0 0 rg BT 333.25 631.10 Td (for ) Tj ET Q q 0 0 0 rg BT 344.55 631.10 Td (up ) Tj ET Q q 0 0 0 rg BT 354.51 631.10 Td (to ) Tj ET Q q 0 0 0 rg BT 362.70 631.10 Td (12 ) Tj ET Q q 0 0 0 rg BT 372.66 631.10 Td (minutes ) Tj ET Q q 0 0 0 rg BT 399.96 631.10 Td (in ) Tj ET Q q 0 0 0 rg BT 408.15 631.10 Td (any ) Tj ET Q q 0 0 0 rg BT 421.66 631.10 Td (hour) Tj ET Q q 0 0 0 rg BT 435.89 631.10 Td (. ) Tj ET Q q 0 0 0 rg BT 439.71 631.10 Td (The ) Tj ET Q q 0 0 0 rg BT 454.11 631.10 Td (public ) Tj ET Q q 0 0 0 rg BT 476.07 631.10 Td (broadcaster) Tj ET Q q 0 0 0 rg BT 512.62 631.10 Td (, ) Tj ET Q q 0 0 0 rg BT 516.58 631.10 Td (SLO, ) Tj ET Q q 0 0 0 rg BT 535.66 631.10 Td (which ) Tj ET Q q 0 0 0 rg BT 557.18 631.10 Td (is ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 621.50 Td (financed ) Tj ET Q q 0 0 0 rg BT 79.53 621.50 Td (through ) Tj ET Q q 0 0 0 rg BT 106.90 621.50 Td (a ) Tj ET Q q 0 0 0 rg BT 112.94 621.50 Td (compulsory ) Tj ET Q q 0 0 0 rg BT 153.20 621.50 Td (television ) Tj ET Q q 0 0 0 rg BT 186.79 621.50 Td (license ) Tj ET Q q 0 0 0 rg BT 211.48 621.50 Td (fee ) Tj ET Q q 0 0 0 rg BT 223.74 621.50 Td (and ) Tj ET Q q 0 0 0 rg BT 237.77 621.50 Td (commercial ) Tj ET Q q 0 0 0 rg BT 278.02 621.50 Td (activities, ) Tj ET Q q 0 0 0 rg BT 311.38 621.50 Td (is ) Tj ET Q q 0 0 0 rg BT 319.21 621.50 Td (allowed ) Tj ET Q q 0 0 0 rg BT 347.02 621.50 Td (to ) Tj ET Q q 0 0 0 rg BT 355.72 621.50 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 388.86 621.50 Td (advertising ) Tj ET Q q 0 0 0 rg BT 426.90 621.50 Td (for ) Tj ET Q q 0 0 0 rg BT 438.71 621.50 Td (up ) Tj ET Q q 0 0 0 rg BT 449.20 621.50 Td (to ) Tj ET Q q 0 0 0 rg BT 457.91 621.50 Td (10 ) Tj ET Q q 0 0 0 rg BT 468.39 621.50 Td (minutes ) Tj ET Q q 0 0 0 rg BT 496.21 621.50 Td (per ) Tj ET Q q 0 0 0 rg BT 508.91 621.50 Td (hour) Tj ET Q q 0 0 0 rg BT 523.26 621.50 Td (, ) Tj ET Q q 0 0 0 rg BT 527.74 621.50 Td (but ) Tj ET Q q 0 0 0 rg BT 540.45 621.50 Td (is ) Tj ET Q q 0 0 0 rg BT 548.27 621.50 Td (only ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 611.90 Td (permitted ) Tj ET Q q 0 0 0 rg BT 81.65 611.90 Td (up ) Tj ET Q q 0 0 0 rg BT 91.13 611.90 Td (to ) Tj ET Q q 0 0 0 rg BT 98.85 611.90 Td (7 ) Tj ET Q q 0 0 0 rg BT 104.34 611.90 Td (minutes ) Tj ET Q q 0 0 0 rg BT 131.16 611.90 Td (per ) Tj ET Q q 0 0 0 rg BT 142.86 611.90 Td (hour ) Tj ET Q q 0 0 0 rg BT 159.01 611.90 Td (between ) Tj ET Q q 0 0 0 rg BT 187.16 611.90 Td (the ) Tj ET Q q 0 0 0 rg BT 198.42 611.90 Td (hours ) Tj ET Q q 0 0 0 rg BT 217.69 611.90 Td (of ) Tj ET Q q 0 0 0 rg BT 225.84 611.90 Td (6:00 ) Tj ET Q q 0 0 0 rg BT 241.55 611.90 Td (p.m. ) Tj ET Q q 0 0 0 rg BT 257.26 611.90 Td (and ) Tj ET Q q 0 0 0 rg BT 270.30 611.90 Td (1) Tj ET Q q 0 0 0 rg BT 274.01 611.90 Td (1:00 ) Tj ET Q q 0 0 0 rg BT 289.72 611.90 Td (p.m. ) Tj ET Q q 0 0 0 rg BT 305.32 611.90 Td (There ) Tj ET Q q 0 0 0 rg BT 325.46 611.90 Td (are ) Tj ET Q q 0 0 0 rg BT 336.72 611.90 Td (also ) Tj ET Q q 0 0 0 rg BT 351.09 611.90 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 388.13 611.90 Td (on ) Tj ET Q q 0 0 0 rg BT 397.62 611.90 Td (the ) Tj ET Q q 0 0 0 rg BT 408.88 611.90 Td (frequency ) Tj ET Q q 0 0 0 rg BT 442.35 611.90 Td (of ) Tj ET Q q 0 0 0 rg BT 450.51 611.90 Td (advertising ) Tj ET Q q 0 0 0 rg BT 487.54 611.90 Td (breaks ) Tj ET Q q 0 0 0 rg BT 509.91 611.90 Td (during ) Tj ET Q q 0 0 0 rg BT 532.29 611.90 Td (programs ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 602.30 Td (and ) Tj ET Q q 0 0 0 rg BT 63.49 602.30 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 101.47 602.30 Td (that ) Tj ET Q q 0 0 0 rg BT 115.90 602.30 Td (relate ) Tj ET Q q 0 0 0 rg BT 136.10 602.30 Td (to ) Tj ET Q q 0 0 0 rg BT 144.76 602.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 182.74 602.30 Td (content, ) Tj ET Q q 0 0 0 rg BT 210.73 602.30 Td (including ) Tj ET Q q 0 0 0 rg BT 243.38 602.30 Td (a ) Tj ET Q q 0 0 0 rg BT 249.37 602.30 Td (ban ) Tj ET Q q 0 0 0 rg BT 263.36 602.30 Td (on ) Tj ET Q q 0 0 0 rg BT 273.79 602.30 Td (tobacco ) Tj ET Q q 0 0 0 rg BT 301.11 602.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 339.09 602.30 Td (and ) Tj ET Q q 0 0 0 rg BT 353.08 602.30 Td (a ) Tj ET Q q 0 0 0 rg BT 359.06 602.30 Td (prohibition ) Tj ET Q q 0 0 0 rg BT 397.05 602.30 Td (on ) Tj ET Q q 0 0 0 rg BT 407.49 602.30 Td (the ) Tj ET Q q 0 0 0 rg BT 419.70 602.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 457.68 602.30 Td (of ) Tj ET Q q 0 0 0 rg BT 466.79 602.30 Td (any ) Tj ET Q q 0 0 0 rg BT 480.77 602.30 Td (alcoholic ) Tj ET Q q 0 0 0 rg BT 512.53 602.30 Td (beverages ) Tj ET Q q 0 0 0 rg BT 546.95 602.30 Td (from ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 592.70 Td (7:00a.m. ) Tj ET Q q 0 0 0 rg BT 81.73 592.70 Td (to ) Tj ET Q q 0 0 0 rg BT 90.19 592.70 Td (9:30 ) Tj ET Q q 0 0 0 rg BT 106.64 592.70 Td (p.m. ) Tj ET Q q 0 0 0 rg BT 123.10 592.70 Td (and ) Tj ET Q q 0 0 0 rg BT 136.88 592.70 Td (generally ) Tj ET Q q 0 0 0 rg BT 168.88 592.70 Td (for ) Tj ET Q q 0 0 0 rg BT 180.44 592.70 Td (alcoholic ) Tj ET Q q 0 0 0 rg BT 211.99 592.70 Td (beverages ) Tj ET Q q 0 0 0 rg BT 246.21 592.70 Td (with ) Tj ET Q q 0 0 0 rg BT 262.66 592.70 Td (an ) Tj ET Q q 0 0 0 rg BT 272.45 592.70 Td (alcoholic ) Tj ET Q q 0 0 0 rg BT 304.00 592.70 Td (content ) Tj ET Q q 0 0 0 rg BT 329.78 592.70 Td (of ) Tj ET Q q 0 0 0 rg BT 338.68 592.70 Td (more ) Tj ET Q q 0 0 0 rg BT 357.35 592.70 Td (than ) Tj ET Q q 0 0 0 rg BT 373.36 592.70 Td (15%. ) Tj ET Q q 0 0 0 rg BT 392.25 592.70 Td (Our ) Tj ET Q q 0 0 0 rg BT 406.93 592.70 Td (Slovenia ) Tj ET Q q 0 0 0 rg BT 437.16 592.70 Td (operations ) Tj ET Q q 0 0 0 rg BT 472.71 592.70 Td (are ) Tj ET Q q 0 0 0 rg BT 484.71 592.70 Td (required ) Tj ET Q q 0 0 0 rg BT 513.60 592.70 Td (to ) Tj ET Q q 0 0 0 rg BT 522.06 592.70 Td (comply ) Tj ET Q q 0 0 0 rg BT 548.29 592.70 Td (with ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 583.10 Td (several ) Tj ET Q q 0 0 0 rg BT 73.73 583.10 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 110.86 583.10 Td (on ) Tj ET Q q 0 0 0 rg BT 120.43 583.10 Td (programming, ) Tj ET Q q 0 0 0 rg BT 167.56 583.10 Td (including ) Tj ET Q q 0 0 0 rg BT 199.36 583.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 236.48 583.10 Td (on ) Tj ET Q q 0 0 0 rg BT 246.06 583.10 Td (the ) Tj ET Q q 0 0 0 rg BT 257.41 583.10 Td (origin ) Tj ET Q q 0 0 0 rg BT 278.10 583.10 Td (of ) Tj ET Q q 0 0 0 rg BT 286.34 583.10 Td (programming. ) Tj ET Q q 0 0 0 rg BT 333.35 583.10 Td (These ) Tj ET Q q 0 0 0 rg BT 354.03 583.10 Td (include ) Tj ET Q q 0 0 0 rg BT 379.16 583.10 Td (the ) Tj ET Q q 0 0 0 rg BT 390.51 583.10 Td (requirement ) Tj ET Q q 0 0 0 rg BT 430.73 583.10 Td (that ) Tj ET Q q 0 0 0 rg BT 444.31 583.10 Td (20% ) Tj ET Q q 0 0 0 rg BT 460.55 583.10 Td (of ) Tj ET Q q 0 0 0 rg BT 468.79 583.10 Td (a ) Tj ET Q q 0 0 0 rg BT 473.92 583.10 Td (station's ) Tj ET Q q 0 0 0 rg BT 501.39 583.10 Td (daily ) Tj ET Q q 0 0 0 rg BT 518.96 583.10 Td (programming ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 573.50 Td (consist ) Tj ET Q q 0 0 0 rg BT 73.30 573.50 Td (of ) Tj ET Q q 0 0 0 rg BT 81.54 573.50 Td (locally ) Tj ET Q q 0 0 0 rg BT 104.89 573.50 Td (produced ) Tj ET Q q 0 0 0 rg BT 136.23 573.50 Td (programming, ) Tj ET Q q 0 0 0 rg BT 183.35 573.50 Td (of ) Tj ET Q q 0 0 0 rg BT 191.60 573.50 Td (which ) Tj ET Q q 0 0 0 rg BT 212.72 573.50 Td (at ) Tj ET Q q 0 0 0 rg BT 220.07 573.50 Td (least ) Tj ET Q q 0 0 0 rg BT 236.31 573.50 Td (60 ) Tj ET Q q 0 0 0 rg BT 245.89 573.50 Td (minutes ) Tj ET Q q 0 0 0 rg BT 272.80 573.50 Td (must ) Tj ET Q q 0 0 0 rg BT 289.93 573.50 Td (be ) Tj ET Q q 0 0 0 rg BT 299.06 573.50 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 331.29 573.50 Td (between ) Tj ET Q q 0 0 0 rg BT 359.52 573.50 Td (6:00 ) Tj ET Q q 0 0 0 rg BT 375.32 573.50 Td (p.m. ) Tj ET Q q 0 0 0 rg BT 391.12 573.50 Td (and ) Tj ET Q q 0 0 0 rg BT 404.25 573.50 Td (10:00 ) Tj ET Q q 0 0 0 rg BT 424.05 573.50 Td (p.m. ) Tj ET Q q 0 0 0 rg BT 439.85 573.50 Td (In ) Tj ET Q q 0 0 0 rg BT 448.09 573.50 Td (addition, ) Tj ET Q q 0 0 0 rg BT 477.88 573.50 Td (50% ) Tj ET Q q 0 0 0 rg BT 494.13 573.50 Td (of ) Tj ET Q q 0 0 0 rg BT 502.37 573.50 Td (the ) Tj ET Q q 0 0 0 rg BT 513.72 573.50 Td (station's ) Tj ET Q q 0 0 0 rg BT 541.18 573.50 Td (annual ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 563.90 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 81.84 563.90 Td (time ) Tj ET Q q 0 0 0 rg BT 97.75 563.90 Td (must ) Tj ET Q q 0 0 0 rg BT 115.00 563.90 Td (be ) Tj ET Q q 0 0 0 rg BT 124.23 563.90 Td (European-origin ) Tj ET Q q 0 0 0 rg BT 178.35 563.90 Td (audio-visual ) Tj ET Q q 0 0 0 rg BT 219.58 563.90 Td (works ) Tj ET Q q 0 0 0 rg BT 240.83 563.90 Td (and ) Tj ET Q q 0 0 0 rg BT 254.07 563.90 Td (at ) Tj ET Q q 0 0 0 rg BT 261.53 563.90 Td (least ) Tj ET Q q 0 0 0 rg BT 277.88 563.90 Td (10% ) Tj ET Q q 0 0 0 rg BT 294.23 563.90 Td (of ) Tj ET Q q 0 0 0 rg BT 302.58 563.90 Td (the ) Tj ET Q q 0 0 0 rg BT 314.04 563.90 Td (stations ) Tj ET Q q 0 0 0 rg BT 340.18 563.90 Td (annual ) Tj ET Q q 0 0 0 rg BT 363.19 563.90 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 395.53 563.90 Td (time ) Tj ET Q q 0 0 0 rg BT 411.44 563.90 Td (must ) Tj ET Q q 0 0 0 rg BT 428.69 563.90 Td (be ) Tj ET Q q 0 0 0 rg BT 437.92 563.90 Td (European ) Tj ET Q q 0 0 0 rg BT 470.27 563.90 Td (audio-visual ) Tj ET Q q 0 0 0 rg BT 511.50 563.90 Td (works ) Tj ET Q q 0 0 0 rg BT 532.74 563.90 Td (produced ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 554.30 Td (by ) Tj ET Q q 0 0 0 rg BT 59.50 554.30 Td (independent ) Tj ET Q q 0 0 0 rg BT 100.60 554.30 Td (producers.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 535.70 Td (Licensing ) Tj ET Q q 0 0 0 rg BT 82.61 535.70 Td (Regulation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 520.10 Td (The ) Tj ET Q q 0 0 0 rg BT 63.76 520.10 Td (license ) Tj ET Q q 0 0 0 rg BT 87.79 520.10 Td (granting ) Tj ET Q q 0 0 0 rg BT 116.26 520.10 Td (and ) Tj ET Q q 0 0 0 rg BT 129.63 520.10 Td (renewal ) Tj ET Q q 0 0 0 rg BT 156.77 520.10 Td (process ) Tj ET Q q 0 0 0 rg BT 182.58 520.10 Td (in ) Tj ET Q q 0 0 0 rg BT 190.62 520.10 Td (our ) Tj ET Q q 0 0 0 rg BT 203.10 520.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 235.13 520.10 Td (countries ) Tj ET Q q 0 0 0 rg BT 266.27 520.10 Td (varies ) Tj ET Q q 0 0 0 rg BT 287.19 520.10 Td (by ) Tj ET Q q 0 0 0 rg BT 297.01 520.10 Td (jurisdiction ) Tj ET Q q 0 0 0 rg BT 335.27 520.10 Td (and ) Tj ET Q q 0 0 0 rg BT 348.64 520.10 Td (by ) Tj ET Q q 0 0 0 rg BT 358.46 520.10 Td (type ) Tj ET Q q 0 0 0 rg BT 374.05 520.10 Td (of ) Tj ET Q q 0 0 0 rg BT 382.53 520.10 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 415.00 520.10 Td (permitted ) Tj ET Q q 0 0 0 rg BT 447.48 520.10 Td (by ) Tj ET Q q 0 0 0 rg BT 457.30 520.10 Td (the ) Tj ET Q q 0 0 0 rg BT 468.89 520.10 Td (license ) Tj ET Q q 0 0 0 rg BT 492.92 520.10 Td (\(i.e., ) Tj ET Q q 0 0 0 rg BT 509.17 520.10 Td (cable, ) Tj ET Q q 0 0 0 rg BT 529.87 520.10 Td (terrestrial, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 510.50 Td (satellite\). ) Tj ET Q q 0 0 0 rg BT 80.81 510.50 Td (Depending ) Tj ET Q q 0 0 0 rg BT 117.67 510.50 Td (on ) Tj ET Q q 0 0 0 rg BT 127.44 510.50 Td (the ) Tj ET Q q 0 0 0 rg BT 138.98 510.50 Td (country) Tj ET Q q 0 0 0 rg BT 162.89 510.50 Td (, ) Tj ET Q q 0 0 0 rg BT 166.66 510.50 Td (terrestrial ) Tj ET Q q 0 0 0 rg BT 199.07 510.50 Td (licenses ) Tj ET Q q 0 0 0 rg BT 226.16 510.50 Td (may ) Tj ET Q q 0 0 0 rg BT 241.70 510.50 Td (be ) Tj ET Q q 0 0 0 rg BT 251.01 510.50 Td (valid ) Tj ET Q q 0 0 0 rg BT 268.78 510.50 Td (for ) Tj ET Q q 0 0 0 rg BT 279.87 510.50 Td (an ) Tj ET Q q 0 0 0 rg BT 289.18 510.50 Td (unlimited ) Tj ET Q q 0 0 0 rg BT 321.61 510.50 Td (time ) Tj ET Q q 0 0 0 rg BT 337.60 510.50 Td (period, ) Tj ET Q q 0 0 0 rg BT 361.80 510.50 Td (may ) Tj ET Q q 0 0 0 rg BT 377.34 510.50 Td (be ) Tj ET Q q 0 0 0 rg BT 386.65 510.50 Td (renewed ) Tj ET Q q 0 0 0 rg BT 415.51 510.50 Td (automatically ) Tj ET Q q 0 0 0 rg BT 460.81 510.50 Td (upon ) Tj ET Q q 0 0 0 rg BT 478.58 510.50 Td (application ) Tj ET Q q 0 0 0 rg BT 515.89 510.50 Td (or ) Tj ET Q q 0 0 0 rg BT 524.31 510.50 Td (may ) Tj ET Q q 0 0 0 rg BT 539.85 510.50 Td (require ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 500.90 Td (a ) Tj ET Q q 0 0 0 rg BT 54.83 500.90 Td (more ) Tj ET Q q 0 0 0 rg BT 73.04 500.90 Td (lengthy ) Tj ET Q q 0 0 0 rg BT 98.82 500.90 Td (renewal ) Tj ET Q q 0 0 0 rg BT 125.91 500.90 Td (procedure, ) Tj ET Q q 0 0 0 rg BT 161.67 500.90 Td (such ) Tj ET Q q 0 0 0 rg BT 178.12 500.90 Td (as ) Tj ET Q q 0 0 0 rg BT 186.56 500.90 Td (a ) Tj ET Q q 0 0 0 rg BT 191.89 500.90 Td (tender ) Tj ET Q q 0 0 0 rg BT 213.65 500.90 Td (process. ) Tj ET Q q 0 0 0 rg BT 241.42 500.90 Td (Generally ) Tj ET Q q 0 0 0 rg BT 274.74 500.90 Td (cable ) Tj ET Q q 0 0 0 rg BT 293.39 500.90 Td (and ) Tj ET Q q 0 0 0 rg BT 306.72 500.90 Td (satellite ) Tj ET Q q 0 0 0 rg BT 333.38 500.90 Td (licenses ) Tj ET Q q 0 0 0 rg BT 360.48 500.90 Td (are ) Tj ET Q q 0 0 0 rg BT 372.03 500.90 Td (granted ) Tj ET Q q 0 0 0 rg BT 397.79 500.90 Td (or ) Tj ET Q q 0 0 0 rg BT 406.24 500.90 Td (renewed ) Tj ET Q q 0 0 0 rg BT 435.11 500.90 Td (upon ) Tj ET Q q 0 0 0 rg BT 452.89 500.90 Td (application. ) Tj ET Q q 0 0 0 rg BT 492.08 500.90 Td (W) Tj ET Q q 0 0 0 rg BT 498.99 500.90 Td (e ) Tj ET Q q 0 0 0 rg BT 504.32 500.90 Td (expect ) Tj ET Q q 0 0 0 rg BT 526.97 500.90 Td (each ) Tj ET Q q 0 0 0 rg BT 543.40 500.90 Td (of ) Tj ET Q q 0 0 0 rg BT 551.85 500.90 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 491.30 Td (licenses ) Tj ET Q q 0 0 0 rg BT 76.61 491.30 Td (to ) Tj ET Q q 0 0 0 rg BT 84.62 491.30 Td (be ) Tj ET Q q 0 0 0 rg BT 93.96 491.30 Td (renewed ) Tj ET Q q 0 0 0 rg BT 122.84 491.30 Td (or ) Tj ET Q q 0 0 0 rg BT 131.30 491.30 Td (new ) Tj ET Q q 0 0 0 rg BT 146.41 491.30 Td (licenses ) Tj ET Q q 0 0 0 rg BT 173.52 491.30 Td (to ) Tj ET Q q 0 0 0 rg BT 181.54 491.30 Td (be ) Tj ET Q q 0 0 0 rg BT 190.87 491.30 Td (granted ) Tj ET Q q 0 0 0 rg BT 216.65 491.30 Td (as ) Tj ET Q q 0 0 0 rg BT 225.10 491.30 Td (required ) Tj ET Q q 0 0 0 rg BT 253.54 491.30 Td (to ) Tj ET Q q 0 0 0 rg BT 261.55 491.30 Td (continue ) Tj ET Q q 0 0 0 rg BT 290.89 491.30 Td (to ) Tj ET Q q 0 0 0 rg BT 298.90 491.30 Td (operate ) Tj ET Q q 0 0 0 rg BT 324.23 491.30 Td (our ) Tj ET Q q 0 0 0 rg BT 336.68 491.30 Td (business. ) Tj ET Q q 0 0 0 rg BT 367.45 491.30 Td (W) Tj ET Q q 0 0 0 rg BT 374.68 491.30 Td (ith ) Tj ET Q q 0 0 0 rg BT 384.91 491.30 Td (the ) Tj ET Q q 0 0 0 rg BT 396.48 491.30 Td (exception ) Tj ET Q q 0 0 0 rg BT 429.36 491.30 Td (of ) Tj ET Q q 0 0 0 rg BT 437.81 491.30 Td (Romania, ) Tj ET Q q 0 0 0 rg BT 470.48 491.30 Td (all ) Tj ET Q q 0 0 0 rg BT 480.27 491.30 Td (of ) Tj ET Q q 0 0 0 rg BT 488.72 491.30 Td (our ) Tj ET Q q 0 0 0 rg BT 501.17 491.30 Td (operating ) Tj ET Q q 0 0 0 rg BT 533.17 491.30 Td (countries ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 481.70 Td (have ) Tj ET Q q 0 0 0 rg BT 67.04 481.70 Td (transitioned ) Tj ET Q q 0 0 0 rg BT 107.24 481.70 Td (from ) Tj ET Q q 0 0 0 rg BT 125.23 481.70 Td (analog ) Tj ET Q q 0 0 0 rg BT 148.98 481.70 Td (to ) Tj ET Q q 0 0 0 rg BT 157.64 481.70 Td (digital ) Tj ET Q q 0 0 0 rg BT 180.52 481.70 Td (terrestrial ) Tj ET Q q 0 0 0 rg BT 213.60 481.70 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 256.91 481.70 Td (and ) Tj ET Q q 0 0 0 rg BT 270.90 481.70 Td (we ) Tj ET Q q 0 0 0 rg BT 282.66 481.70 Td (have ) Tj ET Q q 0 0 0 rg BT 300.19 481.70 Td (obtained ) Tj ET Q q 0 0 0 rg BT 330.18 481.70 Td (digital ) Tj ET Q q 0 0 0 rg BT 353.05 481.70 Td (licenses ) Tj ET Q q 0 0 0 rg BT 380.81 481.70 Td (in ) Tj ET Q q 0 0 0 rg BT 389.47 481.70 Td (those ) Tj ET Q q 0 0 0 rg BT 408.79 481.70 Td (countries. ) Tj ET Q q 0 0 0 rg BT 442.37 481.70 Td (The ) Tj ET Q q 0 0 0 rg BT 457.24 481.70 Td (digital ) Tj ET Q q 0 0 0 rg BT 480.12 481.70 Td (switchover ) Tj ET Q q 0 0 0 rg BT 517.66 481.70 Td (is ) Tj ET Q q 0 0 0 rg BT 525.43 481.70 Td (expected ) Tj ET Q q 0 0 0 rg BT 556.29 481.70 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 472.10 Td (occur ) Tj ET Q q 0 0 0 rg BT 69.14 472.10 Td (in ) Tj ET Q q 0 0 0 rg BT 77.24 472.10 Td (Romania ) Tj ET Q q 0 0 0 rg BT 107.99 472.10 Td (in ) Tj ET Q q 0 0 0 rg BT 116.09 472.10 Td (June ) Tj ET Q q 0 0 0 rg BT 132.63 472.10 Td (2015, ) Tj ET Q q 0 0 0 rg BT 152.50 472.10 Td (although ) Tj ET Q q 0 0 0 rg BT 182.37 472.10 Td (this ) Tj ET Q q 0 0 0 rg BT 195.80 472.10 Td (may ) Tj ET Q q 0 0 0 rg BT 211.45 472.10 Td (be ) Tj ET Q q 0 0 0 rg BT 220.88 472.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 245.41 472.10 Td (to ) Tj ET Q q 0 0 0 rg BT 253.51 472.10 Td (delays ) Tj ET Q q 0 0 0 rg BT 275.82 472.10 Td (in ) Tj ET Q q 0 0 0 rg BT 283.92 472.10 Td (implementation, ) Tj ET Q q 0 0 0 rg BT 338.00 472.10 Td (and ) Tj ET Q q 0 0 0 rg BT 351.43 472.10 Td (we ) Tj ET Q q 0 0 0 rg BT 362.63 472.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 385.38 472.10 Td (to ) Tj ET Q q 0 0 0 rg BT 393.47 472.10 Td (receive ) Tj ET Q q 0 0 0 rg BT 418.44 472.10 Td (digital ) Tj ET Q q 0 0 0 rg BT 440.75 472.10 Td (licenses ) Tj ET Q q 0 0 0 rg BT 467.95 472.10 Td (that ) Tj ET Q q 0 0 0 rg BT 481.82 472.10 Td (are ) Tj ET Q q 0 0 0 rg BT 493.46 472.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 515.33 472.10 Td (in ) Tj ET Q q 0 0 0 rg BT 523.43 472.10 Td (replacement ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 462.50 Td (of ) Tj ET Q q 0 0 0 rg BT 57.58 462.50 Td (analog ) Tj ET Q q 0 0 0 rg BT 80.31 462.50 Td (licenses. ) Tj ET Q q 0 0 0 rg BT 108.95 462.50 Td (W) Tj ET Q q 0 0 0 rg BT 115.86 462.50 Td (e ) Tj ET Q q 0 0 0 rg BT 120.82 462.50 Td (will ) Tj ET Q q 0 0 0 rg BT 134.68 462.50 Td (also ) Tj ET Q q 0 0 0 rg BT 148.98 462.50 Td (apply ) Tj ET Q q 0 0 0 rg BT 168.17 462.50 Td (for ) Tj ET Q q 0 0 0 rg BT 178.91 462.50 Td (additional ) Tj ET Q q 0 0 0 rg BT 212.31 462.50 Td (digital ) Tj ET Q q 0 0 0 rg BT 234.17 462.50 Td (licenses ) Tj ET Q q 0 0 0 rg BT 260.91 462.50 Td (and ) Tj ET Q q 0 0 0 rg BT 273.87 462.50 Td (for ) Tj ET Q q 0 0 0 rg BT 284.61 462.50 Td (licenses ) Tj ET Q q 0 0 0 rg BT 311.35 462.50 Td (to ) Tj ET Q q 0 0 0 rg BT 318.98 462.50 Td (operate ) Tj ET Q q 0 0 0 rg BT 343.94 462.50 Td (digital ) Tj ET Q q 0 0 0 rg BT 365.79 462.50 Td (networks ) Tj ET Q q 0 0 0 rg BT 396.53 462.50 Td (where ) Tj ET Q q 0 0 0 rg BT 417.49 462.50 Td (such ) Tj ET Q q 0 0 0 rg BT 433.57 462.50 Td (applications ) Tj ET Q q 0 0 0 rg BT 473.64 462.50 Td (are ) Tj ET Q q 0 0 0 rg BT 484.81 462.50 Td (permissible ) Tj ET Q q 0 0 0 rg BT 523.11 462.50 Td (and ) Tj ET Q q 0 0 0 rg BT 536.07 462.50 Td (prudent. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 452.90 Td (Please ) Tj ET Q q 0 0 0 rg BT 71.94 452.90 Td (see ) Tj ET Q q 0 0 0 rg BT 84.15 452.90 Td (below ) Tj ET Q q 0 0 0 rg BT 105.70 452.90 Td (for ) Tj ET Q q 0 0 0 rg BT 117.03 452.90 Td (more ) Tj ET Q q 0 0 0 rg BT 135.47 452.90 Td (detailed ) Tj ET Q q 0 0 0 rg BT 162.79 452.90 Td (information ) Tj ET Q q 0 0 0 rg BT 202.56 452.90 Td (on ) Tj ET Q q 0 0 0 rg BT 212.56 452.90 Td (licenses ) Tj ET Q q 0 0 0 rg BT 239.88 452.90 Td (for ) Tj ET Q q 0 0 0 rg BT 251.21 452.90 Td (our ) Tj ET Q q 0 0 0 rg BT 263.88 452.90 Td (channels.) Tj ET Q BT /F1 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 49.5 436.23359375 m 77.046875 436.23359375 l s q 0 0 0 rg BT 49.50 437.30 Td (Bulgaria) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 77.05 437.30 Td (: ) Tj ET Q q 0 0 0 rg BT 81.26 437.30 Td (Following ) Tj ET Q q 0 0 0 rg BT 116.15 437.30 Td (the ) Tj ET Q q 0 0 0 rg BT 127.92 437.30 Td (analog ) Tj ET Q q 0 0 0 rg BT 151.24 437.30 Td (switch-of) Tj ET Q q 0 0 0 rg BT 181.31 437.30 Td (f ) Tj ET Q q 0 0 0 rg BT 185.97 437.30 Td (in ) Tj ET Q q 0 0 0 rg BT 194.18 437.30 Td (September ) Tj ET Q q 0 0 0 rg BT 230.39 437.30 Td (2013, ) Tj ET Q q 0 0 0 rg BT 250.38 437.30 Td (BTV) Tj ET Q q 0 0 0 rg BT 266.24 437.30 Td ( ) Tj ET Q q 0 0 0 rg BT 268.23 437.30 Td (operates ) Tj ET Q q 0 0 0 rg BT 296.88 437.30 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 326.42 437.30 Td (to ) Tj ET Q q 0 0 0 rg BT 334.64 437.30 Td (a ) Tj ET Q q 0 0 0 rg BT 340.19 437.30 Td (national ) Tj ET Q q 0 0 0 rg BT 367.95 437.30 Td (digital ) Tj ET Q q 0 0 0 rg BT 390.38 437.30 Td (terrestrial ) Tj ET Q q 0 0 0 rg BT 423.03 437.30 Td (license ) Tj ET Q q 0 0 0 rg BT 447.23 437.30 Td (issued ) Tj ET Q q 0 0 0 rg BT 469.23 437.30 Td (by ) Tj ET Q q 0 0 0 rg BT 479.22 437.30 Td (the ) Tj ET Q q 0 0 0 rg BT 490.99 437.30 Td (Council ) Tj ET Q q 0 0 0 rg BT 518.31 437.30 Td (for ) Tj ET Q q 0 0 0 rg BT 529.64 437.30 Td (Electronic ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 427.70 Td (Media, ) Tj ET Q q 0 0 0 rg BT 74.11 427.70 Td (the ) Tj ET Q q 0 0 0 rg BT 86.06 427.70 Td (Bulgarian ) Tj ET Q q 0 0 0 rg BT 119.78 427.70 Td (Media ) Tj ET Q q 0 0 0 rg BT 142.39 427.70 Td (Council, ) Tj ET Q q 0 0 0 rg BT 171.90 427.70 Td (that ) Tj ET Q q 0 0 0 rg BT 186.07 427.70 Td (expires ) Tj ET Q q 0 0 0 rg BT 211.35 427.70 Td (in ) Tj ET Q q 0 0 0 rg BT 219.75 427.70 Td (July ) Tj ET Q q 0 0 0 rg BT 235.26 427.70 Td (2024. ) Tj ET Q q 0 0 0 rg BT 255.43 427.70 Td (BTV) Tj ET Q q 0 0 0 rg BT 271.29 427.70 Td ( ) Tj ET Q q 0 0 0 rg BT 272.98 427.70 Td (ACTION ) Tj ET Q q 0 0 0 rg BT 305.38 427.70 Td (broadcasts ) Tj ET Q q 0 0 0 rg BT 341.32 427.70 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 371.04 427.70 Td (to ) Tj ET Q q 0 0 0 rg BT 379.44 427.70 Td (a ) Tj ET Q q 0 0 0 rg BT 385.16 427.70 Td (national ) Tj ET Q q 0 0 0 rg BT 413.11 427.70 Td (cable ) Tj ET Q q 0 0 0 rg BT 432.16 427.70 Td (registration ) Tj ET Q q 0 0 0 rg BT 470.77 427.70 Td (that ) Tj ET Q q 0 0 0 rg BT 484.94 427.70 Td (is ) Tj ET Q q 0 0 0 rg BT 492.45 427.70 Td (valid ) Tj ET Q q 0 0 0 rg BT 510.62 427.70 Td (for ) Tj ET Q q 0 0 0 rg BT 522.12 427.70 Td (an ) Tj ET Q q 0 0 0 rg BT 531.85 427.70 Td (indefinite ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 418.10 Td (time ) Tj ET Q q 0 0 0 rg BT 65.97 418.10 Td (period ) Tj ET Q q 0 0 0 rg BT 88.65 418.10 Td (and ) Tj ET Q q 0 0 0 rg BT 102.45 418.10 Td (also ) Tj ET Q q 0 0 0 rg BT 117.59 418.10 Td (has ) Tj ET Q q 0 0 0 rg BT 130.50 418.10 Td (a ) Tj ET Q q 0 0 0 rg BT 136.30 418.10 Td (digital ) Tj ET Q q 0 0 0 rg BT 158.99 418.10 Td (terrestrial ) Tj ET Q q 0 0 0 rg BT 191.88 418.10 Td (license ) Tj ET Q q 0 0 0 rg BT 216.34 418.10 Td (that ) Tj ET Q q 0 0 0 rg BT 230.59 418.10 Td (expires ) Tj ET Q q 0 0 0 rg BT 255.94 418.10 Td (in ) Tj ET Q q 0 0 0 rg BT 264.41 418.10 Td (January ) Tj ET Q q 0 0 0 rg BT 291.53 418.10 Td (2025 ) Tj ET Q q 0 0 0 rg BT 309.78 418.10 Td (which ) Tj ET Q q 0 0 0 rg BT 331.58 418.10 Td (is ) Tj ET Q q 0 0 0 rg BT 339.16 418.10 Td (not ) Tj ET Q q 0 0 0 rg BT 351.63 418.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 382.76 418.10 Td (in ) Tj ET Q q 0 0 0 rg BT 391.23 418.10 Td (use. ) Tj ET Q q 0 0 0 rg BT 406.14 418.10 Td (BTV) Tj ET Q q 0 0 0 rg BT 422.00 418.10 Td ( ) Tj ET Q q 0 0 0 rg BT 424.24 418.10 Td (CINEMA, ) Tj ET Q q 0 0 0 rg BT 460.05 418.10 Td (BTV) Tj ET Q q 0 0 0 rg BT 475.90 418.10 Td ( ) Tj ET Q q 0 0 0 rg BT 478.15 418.10 Td (COMEDY) Tj ET Q q 0 0 0 rg BT 511.79 418.10 Td (, ) Tj ET Q q 0 0 0 rg BT 516.04 418.10 Td (RING.BG ) Tj ET Q q 0 0 0 rg BT 550.95 418.10 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 408.50 Td (BTV) Tj ET Q q 0 0 0 rg BT 65.36 408.50 Td ( ) Tj ET Q q 0 0 0 rg BT 67.36 408.50 Td (LADY) Tj ET Q q 0 0 0 rg BT 89.28 408.50 Td ( ) Tj ET Q q 0 0 0 rg BT 91.28 408.50 Td (each ) Tj ET Q q 0 0 0 rg BT 107.93 408.50 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 140.58 408.50 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 170.13 408.50 Td (to ) Tj ET Q q 0 0 0 rg BT 178.36 408.50 Td (a ) Tj ET Q q 0 0 0 rg BT 183.91 408.50 Td (national ) Tj ET Q q 0 0 0 rg BT 211.68 408.50 Td (cable ) Tj ET Q q 0 0 0 rg BT 230.55 408.50 Td (registration ) Tj ET Q q 0 0 0 rg BT 268.98 408.50 Td (that ) Tj ET Q q 0 0 0 rg BT 282.98 408.50 Td (is ) Tj ET Q q 0 0 0 rg BT 290.32 408.50 Td (valid ) Tj ET Q q 0 0 0 rg BT 308.31 408.50 Td (for ) Tj ET Q q 0 0 0 rg BT 319.64 408.50 Td (an ) Tj ET Q q 0 0 0 rg BT 329.19 408.50 Td (indefinite ) Tj ET Q q 0 0 0 rg BT 361.85 408.50 Td (time ) Tj ET Q q 0 0 0 rg BT 378.07 408.50 Td (period. ) Tj ET Q BT /F1 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 49.5 391.83359375 m 73.046875 391.83359375 l s q 0 0 0 rg BT 49.50 392.90 Td (Croatia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 73.05 392.90 Td (: ) Tj ET Q q 0 0 0 rg BT 77.63 392.90 Td (NOV) Tj ET Q q 0 0 0 rg BT 93.93 392.90 Td (A) Tj ET Q q 0 0 0 rg BT 99.27 392.90 Td ( ) Tj ET Q q 0 0 0 rg BT 101.46 392.90 Td (TV) Tj ET Q q 0 0 0 rg BT 111.98 392.90 Td ( ) Tj ET Q q 0 0 0 rg BT 114.34 392.90 Td (\(Croatia\) ) Tj ET Q q 0 0 0 rg BT 145.58 392.90 Td (broadcasts ) Tj ET Q q 0 0 0 rg BT 181.71 392.90 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 211.62 392.90 Td (to ) Tj ET Q q 0 0 0 rg BT 220.21 392.90 Td (a ) Tj ET Q q 0 0 0 rg BT 226.12 392.90 Td (national ) Tj ET Q q 0 0 0 rg BT 254.25 392.90 Td (terrestrial ) Tj ET Q q 0 0 0 rg BT 287.26 392.90 Td (license ) Tj ET Q q 0 0 0 rg BT 311.83 392.90 Td (granted ) Tj ET Q q 0 0 0 rg BT 338.18 392.90 Td (by ) Tj ET Q q 0 0 0 rg BT 348.55 392.90 Td (the ) Tj ET Q q 0 0 0 rg BT 360.68 392.90 Td (Croatian ) Tj ET Q q 0 0 0 rg BT 390.59 392.90 Td (Media ) Tj ET Q q 0 0 0 rg BT 413.39 392.90 Td (Council, ) Tj ET Q q 0 0 0 rg BT 443.09 392.90 Td (the ) Tj ET Q q 0 0 0 rg BT 455.22 392.90 Td (Electronic ) Tj ET Q q 0 0 0 rg BT 490.46 392.90 Td (Media ) Tj ET Q q 0 0 0 rg BT 513.25 392.90 Td (Council, ) Tj ET Q q 0 0 0 rg BT 542.95 392.90 Td (which ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 383.30 Td (expires ) Tj ET Q q 0 0 0 rg BT 74.95 383.30 Td (in ) Tj ET Q q 0 0 0 rg BT 83.00 383.30 Td (April ) Tj ET Q q 0 0 0 rg BT 102.23 383.30 Td (2025. ) Tj ET Q q 0 0 0 rg BT 122.58 383.30 Td (DOMA) Tj ET Q q 0 0 0 rg BT 146.58 383.30 Td ( ) Tj ET Q q 0 0 0 rg BT 148.93 383.30 Td (\(Croatia\) ) Tj ET Q q 0 0 0 rg BT 180.15 383.30 Td (broadcasts ) Tj ET Q q 0 0 0 rg BT 216.26 383.30 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 246.16 383.30 Td (to ) Tj ET Q q 0 0 0 rg BT 254.73 383.30 Td (a ) Tj ET Q q 0 0 0 rg BT 260.63 383.30 Td (national ) Tj ET Q q 0 0 0 rg BT 288.74 383.30 Td (terrestrial ) Tj ET Q q 0 0 0 rg BT 321.74 383.30 Td (license ) Tj ET Q q 0 0 0 rg BT 346.30 383.30 Td (that ) Tj ET Q q 0 0 0 rg BT 360.64 383.30 Td (expires ) Tj ET Q q 0 0 0 rg BT 386.09 383.30 Td (in ) Tj ET Q q 0 0 0 rg BT 394.66 383.30 Td (January ) Tj ET Q q 0 0 0 rg BT 421.88 383.30 Td (2026. ) Tj ET Q q 0 0 0 rg BT 442.23 383.30 Td (MINI ) Tj ET Q q 0 0 0 rg BT 462.63 383.30 Td (TV) Tj ET Q q 0 0 0 rg BT 473.15 383.30 Td ( ) Tj ET Q q 0 0 0 rg BT 475.49 383.30 Td (broadcasts ) Tj ET Q q 0 0 0 rg BT 511.60 383.30 Td (via ) Tj ET Q q 0 0 0 rg BT 523.72 383.30 Td (satellite ) Tj ET Q q 0 0 0 rg BT 550.95 383.30 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 373.70 Td (cable ) Tj ET Q q 0 0 0 rg BT 68.38 373.70 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 97.93 373.70 Td (to ) Tj ET Q q 0 0 0 rg BT 106.15 373.70 Td (a ) Tj ET Q q 0 0 0 rg BT 111.70 373.70 Td (license ) Tj ET Q q 0 0 0 rg BT 135.91 373.70 Td (that ) Tj ET Q q 0 0 0 rg BT 149.91 373.70 Td (expires ) Tj ET Q q 0 0 0 rg BT 175.01 373.70 Td (in ) Tj ET Q q 0 0 0 rg BT 183.23 373.70 Td (January ) Tj ET Q q 0 0 0 rg BT 210.11 373.70 Td (2022. ) Tj ET Q BT /F1 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 49.5 357.03359375 m 100.5654296875 357.03359375 l s q 0 0 0 rg BT 49.50 358.10 Td (Czech ) Tj ET Q q 0 0 0 rg BT 71.68 358.10 Td (Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 100.57 358.10 Td (: ) Tj ET Q q 0 0 0 rg BT 104.98 358.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 119.62 358.10 Td (channels ) Tj ET Q q 0 0 0 rg BT 149.80 358.10 Td (in ) Tj ET Q q 0 0 0 rg BT 158.22 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 170.19 358.10 Td (Czech ) Tj ET Q q 0 0 0 rg BT 192.37 358.10 Td (Republic ) Tj ET Q q 0 0 0 rg BT 223.45 358.10 Td (operate ) Tj ET Q q 0 0 0 rg BT 249.18 358.10 Td (under ) Tj ET Q q 0 0 0 rg BT 269.59 358.10 Td (a ) Tj ET Q q 0 0 0 rg BT 275.33 358.10 Td (variety ) Tj ET Q q 0 0 0 rg BT 299.74 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 308.60 358.10 Td (licenses ) Tj ET Q q 0 0 0 rg BT 336.12 358.10 Td (granted ) Tj ET Q q 0 0 0 rg BT 362.30 358.10 Td (by ) Tj ET Q q 0 0 0 rg BT 372.49 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 384.46 358.10 Td (Czech ) Tj ET Q q 0 0 0 rg BT 406.64 358.10 Td (Republic ) Tj ET Q q 0 0 0 rg BT 437.72 358.10 Td (Media ) Tj ET Q q 0 0 0 rg BT 460.35 358.10 Td (Council, ) Tj ET Q q 0 0 0 rg BT 489.72 358.10 Td (The ) Tj ET Q q 0 0 0 rg BT 504.35 358.10 Td (Council ) Tj ET Q q 0 0 0 rg BT 531.88 358.10 Td (for ) Tj ET Q q 0 0 0 rg BT 543.40 358.10 Td (Radio ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 348.50 Td (and ) Tj ET Q q 0 0 0 rg BT 62.52 348.50 Td (T) Tj ET Q q 0 0 0 rg BT 66.85 348.50 Td (elevision ) Tj ET Q q 0 0 0 rg BT 97.32 348.50 Td (Broadcasting. ) Tj ET Q q 0 0 0 rg BT 143.00 348.50 Td (TV) Tj ET Q q 0 0 0 rg BT 153.52 348.50 Td ( ) Tj ET Q q 0 0 0 rg BT 155.11 348.50 Td (NOV) Tj ET Q q 0 0 0 rg BT 171.41 348.50 Td (A) Tj ET Q q 0 0 0 rg BT 176.74 348.50 Td ( ) Tj ET Q q 0 0 0 rg BT 178.33 348.50 Td (\(Czech ) Tj ET Q q 0 0 0 rg BT 202.57 348.50 Td (Republic\) ) Tj ET Q q 0 0 0 rg BT 235.70 348.50 Td (broadcasts ) Tj ET Q q 0 0 0 rg BT 271.05 348.50 Td (under ) Tj ET Q q 0 0 0 rg BT 290.85 348.50 Td (a ) Tj ET Q q 0 0 0 rg BT 295.99 348.50 Td (national ) Tj ET Q q 0 0 0 rg BT 323.34 348.50 Td (terrestrial ) Tj ET Q q 0 0 0 rg BT 355.58 348.50 Td (license ) Tj ET Q q 0 0 0 rg BT 379.38 348.50 Td (that ) Tj ET Q q 0 0 0 rg BT 392.96 348.50 Td (expires ) Tj ET Q q 0 0 0 rg BT 417.65 348.50 Td (in ) Tj ET Q q 0 0 0 rg BT 425.45 348.50 Td (January ) Tj ET Q q 0 0 0 rg BT 451.92 348.50 Td (2025. ) Tj ET Q q 0 0 0 rg BT 471.39 348.50 Td (TV) Tj ET Q q 0 0 0 rg BT 481.91 348.50 Td ( ) Tj ET Q q 0 0 0 rg BT 483.50 348.50 Td (NOV) Tj ET Q q 0 0 0 rg BT 499.80 348.50 Td (A) Tj ET Q q 0 0 0 rg BT 505.13 348.50 Td ( ) Tj ET Q q 0 0 0 rg BT 506.72 348.50 Td (\(Czech ) Tj ET Q q 0 0 0 rg BT 530.96 348.50 Td (Republic\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 338.90 Td (may ) Tj ET Q q 0 0 0 rg BT 65.19 338.90 Td (also ) Tj ET Q q 0 0 0 rg BT 80.00 338.90 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 112.58 338.90 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 142.05 338.90 Td (to ) Tj ET Q q 0 0 0 rg BT 150.19 338.90 Td (a ) Tj ET Q q 0 0 0 rg BT 155.66 338.90 Td (satellite ) Tj ET Q q 0 0 0 rg BT 182.46 338.90 Td (license ) Tj ET Q q 0 0 0 rg BT 206.59 338.90 Td (that ) Tj ET Q q 0 0 0 rg BT 220.51 338.90 Td (expires ) Tj ET Q q 0 0 0 rg BT 245.53 338.90 Td (in ) Tj ET Q q 0 0 0 rg BT 253.68 338.90 Td (December ) Tj ET Q q 0 0 0 rg BT 288.46 338.90 Td (2020. ) Tj ET Q q 0 0 0 rg BT 308.39 338.90 Td (NOV) Tj ET Q q 0 0 0 rg BT 324.69 338.90 Td (A) Tj ET Q q 0 0 0 rg BT 330.02 338.90 Td ( ) Tj ET Q q 0 0 0 rg BT 331.94 338.90 Td (CINEMA) Tj ET Q q 0 0 0 rg BT 363.06 338.90 Td ( ) Tj ET Q q 0 0 0 rg BT 364.98 338.90 Td (broadcasts ) Tj ET Q q 0 0 0 rg BT 400.66 338.90 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 430.14 338.90 Td (to ) Tj ET Q q 0 0 0 rg BT 438.28 338.90 Td (a ) Tj ET Q q 0 0 0 rg BT 443.75 338.90 Td (national ) Tj ET Q q 0 0 0 rg BT 471.44 338.90 Td (terrestrial ) Tj ET Q q 0 0 0 rg BT 504.01 338.90 Td (digital ) Tj ET Q q 0 0 0 rg BT 526.37 338.90 Td (license ) Tj ET Q q 0 0 0 rg BT 550.50 338.90 Td (that ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 329.30 Td (expires ) Tj ET Q q 0 0 0 rg BT 74.91 329.30 Td (in ) Tj ET Q q 0 0 0 rg BT 83.44 329.30 Td (2023. ) Tj ET Q q 0 0 0 rg BT 103.74 329.30 Td (NOV) Tj ET Q q 0 0 0 rg BT 120.04 329.30 Td (A) Tj ET Q q 0 0 0 rg BT 125.38 329.30 Td ( ) Tj ET Q q 0 0 0 rg BT 127.68 329.30 Td (CINEMA) Tj ET Q q 0 0 0 rg BT 158.80 329.30 Td ( ) Tj ET Q q 0 0 0 rg BT 161.10 329.30 Td (also ) Tj ET Q q 0 0 0 rg BT 176.29 329.30 Td (broadcasts ) Tj ET Q q 0 0 0 rg BT 212.37 329.30 Td (via ) Tj ET Q q 0 0 0 rg BT 224.45 329.30 Td (satellite ) Tj ET Q q 0 0 0 rg BT 251.63 329.30 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 281.49 329.30 Td (to ) Tj ET Q q 0 0 0 rg BT 290.01 329.30 Td (a ) Tj ET Q q 0 0 0 rg BT 295.87 329.30 Td (license ) Tj ET Q q 0 0 0 rg BT 320.39 329.30 Td (that ) Tj ET Q q 0 0 0 rg BT 334.69 329.30 Td (is ) Tj ET Q q 0 0 0 rg BT 342.33 329.30 Td (valid ) Tj ET Q q 0 0 0 rg BT 360.63 329.30 Td (until ) Tj ET Q q 0 0 0 rg BT 377.61 329.30 Td (November ) Tj ET Q q 0 0 0 rg BT 413.68 329.30 Td (2019. ) Tj ET Q q 0 0 0 rg BT 433.98 329.30 Td (NOV) Tj ET Q q 0 0 0 rg BT 450.28 329.30 Td (A) Tj ET Q q 0 0 0 rg BT 455.62 329.30 Td ( ) Tj ET Q q 0 0 0 rg BT 457.93 329.30 Td (SPOR) Tj ET Q q 0 0 0 rg BT 477.46 329.30 Td (T) Tj ET Q q 0 0 0 rg BT 482.20 329.30 Td ( ) Tj ET Q q 0 0 0 rg BT 484.50 329.30 Td (broadcasts ) Tj ET Q q 0 0 0 rg BT 520.58 329.30 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 550.43 329.30 Td (to ) Tj ET Q q 0 0 0 rg BT 558.96 329.30 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 319.70 Td (license ) Tj ET Q q 0 0 0 rg BT 74.05 319.70 Td (that ) Tj ET Q q 0 0 0 rg BT 88.39 319.70 Td (allows ) Tj ET Q q 0 0 0 rg BT 111.61 319.70 Td (for ) Tj ET Q q 0 0 0 rg BT 123.28 319.70 Td (both ) Tj ET Q q 0 0 0 rg BT 139.84 319.70 Td (satellite ) Tj ET Q q 0 0 0 rg BT 167.06 319.70 Td (and ) Tj ET Q q 0 0 0 rg BT 180.95 319.70 Td (cable ) Tj ET Q q 0 0 0 rg BT 200.17 319.70 Td (transmission ) Tj ET Q q 0 0 0 rg BT 242.95 319.70 Td (that ) Tj ET Q q 0 0 0 rg BT 257.29 319.70 Td (expires ) Tj ET Q q 0 0 0 rg BT 282.73 319.70 Td (in ) Tj ET Q q 0 0 0 rg BT 291.29 319.70 Td (October ) Tj ET Q q 0 0 0 rg BT 319.40 319.70 Td (2020. ) Tj ET Q q 0 0 0 rg BT 339.74 319.70 Td (F) Tj ET Q q 0 0 0 rg BT 343.59 319.70 Td (ANDA) Tj ET Q q 0 0 0 rg BT 366.26 319.70 Td ( ) Tj ET Q q 0 0 0 rg BT 368.60 319.70 Td (broadcasts ) Tj ET Q q 0 0 0 rg BT 404.71 319.70 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 434.60 319.70 Td (to ) Tj ET Q q 0 0 0 rg BT 443.16 319.70 Td (a ) Tj ET Q q 0 0 0 rg BT 449.05 319.70 Td (satellite ) Tj ET Q q 0 0 0 rg BT 476.27 319.70 Td (license ) Tj ET Q q 0 0 0 rg BT 500.82 319.70 Td (that ) Tj ET Q q 0 0 0 rg BT 515.16 319.70 Td (expires ) Tj ET Q q 0 0 0 rg BT 540.60 319.70 Td (in ) Tj ET Q q 0 0 0 rg BT 549.16 319.70 Td (July ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 310.10 Td (2024 ) Tj ET Q q 0 0 0 rg BT 67.73 310.10 Td (and ) Tj ET Q q 0 0 0 rg BT 81.51 310.10 Td (a ) Tj ET Q q 0 0 0 rg BT 87.30 310.10 Td (national ) Tj ET Q q 0 0 0 rg BT 115.30 310.10 Td (terrestrial ) Tj ET Q q 0 0 0 rg BT 148.18 310.10 Td (license ) Tj ET Q q 0 0 0 rg BT 172.62 310.10 Td (that ) Tj ET Q q 0 0 0 rg BT 186.85 310.10 Td (expires ) Tj ET Q q 0 0 0 rg BT 212.18 310.10 Td (in ) Tj ET Q q 0 0 0 rg BT 220.63 310.10 Td (September ) Tj ET Q q 0 0 0 rg BT 257.08 310.10 Td (2023. ) Tj ET Q q 0 0 0 rg BT 277.31 310.10 Td (SMICHOV) Tj ET Q q 0 0 0 rg BT 314.06 310.10 Td ( ) Tj ET Q q 0 0 0 rg BT 316.29 310.10 Td (broadcasts ) Tj ET Q q 0 0 0 rg BT 352.29 310.10 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 382.07 310.10 Td (to ) Tj ET Q q 0 0 0 rg BT 390.52 310.10 Td (a ) Tj ET Q q 0 0 0 rg BT 396.30 310.10 Td (national ) Tj ET Q q 0 0 0 rg BT 424.31 310.10 Td (terrestrial ) Tj ET Q q 0 0 0 rg BT 457.19 310.10 Td (license ) Tj ET Q q 0 0 0 rg BT 481.63 310.10 Td (that ) Tj ET Q q 0 0 0 rg BT 495.86 310.10 Td (expires ) Tj ET Q q 0 0 0 rg BT 521.19 310.10 Td (in ) Tj ET Q q 0 0 0 rg BT 529.64 310.10 Td (December ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 300.50 Td (2024 ) Tj ET Q q 0 0 0 rg BT 67.75 300.50 Td (and ) Tj ET Q q 0 0 0 rg BT 81.55 300.50 Td (a ) Tj ET Q q 0 0 0 rg BT 87.35 300.50 Td (satellite ) Tj ET Q q 0 0 0 rg BT 114.48 300.50 Td (license ) Tj ET Q q 0 0 0 rg BT 138.94 300.50 Td (that ) Tj ET Q q 0 0 0 rg BT 153.18 300.50 Td (expires ) Tj ET Q q 0 0 0 rg BT 178.53 300.50 Td (in ) Tj ET Q q 0 0 0 rg BT 187.00 300.50 Td (February ) Tj ET Q q 0 0 0 rg BT 218.13 300.50 Td (2025. ) Tj ET Q q 0 0 0 rg BT 238.22 300.50 Td (TELKA) Tj ET Q q 0 0 0 rg BT 263.99 300.50 Td ( ) Tj ET Q q 0 0 0 rg BT 266.24 300.50 Td (broadcasts ) Tj ET Q q 0 0 0 rg BT 302.26 300.50 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 332.06 300.50 Td (to ) Tj ET Q q 0 0 0 rg BT 340.53 300.50 Td (a ) Tj ET Q q 0 0 0 rg BT 346.33 300.50 Td (national ) Tj ET Q q 0 0 0 rg BT 374.35 300.50 Td (terrestrial ) Tj ET Q q 0 0 0 rg BT 407.24 300.50 Td (license ) Tj ET Q q 0 0 0 rg BT 431.70 300.50 Td (and ) Tj ET Q q 0 0 0 rg BT 445.50 300.50 Td (a ) Tj ET Q q 0 0 0 rg BT 451.30 300.50 Td (satellite ) Tj ET Q q 0 0 0 rg BT 478.43 300.50 Td (license ) Tj ET Q q 0 0 0 rg BT 502.89 300.50 Td (that ) Tj ET Q q 0 0 0 rg BT 517.14 300.50 Td (each ) Tj ET Q q 0 0 0 rg BT 534.04 300.50 Td (expire ) Tj ET Q q 0 0 0 rg BT 556.27 300.50 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 290.90 Td (February ) Tj ET Q q 0 0 0 rg BT 80.38 290.90 Td (2025.) Tj ET Q BT /F1 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 49.5 274.23359374999995 m 78.3828125 274.23359374999995 l s q 0 0 0 rg BT 49.50 275.30 Td (Romania) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 78.38 275.30 Td (: ) Tj ET Q q 0 0 0 rg BT 82.87 275.30 Td (PRO ) Tj ET Q q 0 0 0 rg BT 100.53 275.30 Td (TV) Tj ET Q q 0 0 0 rg BT 111.05 275.30 Td ( ) Tj ET Q q 0 0 0 rg BT 113.31 275.30 Td (broadcasts ) Tj ET Q q 0 0 0 rg BT 149.34 275.30 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 179.15 275.30 Td (to ) Tj ET Q q 0 0 0 rg BT 187.63 275.30 Td (a ) Tj ET Q q 0 0 0 rg BT 193.45 275.30 Td (network ) Tj ET Q q 0 0 0 rg BT 221.92 275.30 Td (of ) Tj ET Q q 0 0 0 rg BT 230.85 275.30 Td (regional ) Tj ET Q q 0 0 0 rg BT 259.32 275.30 Td (and ) Tj ET Q q 0 0 0 rg BT 273.13 275.30 Td (local ) Tj ET Q q 0 0 0 rg BT 290.94 275.30 Td (analog ) Tj ET Q q 0 0 0 rg BT 314.53 275.30 Td (licenses ) Tj ET Q q 0 0 0 rg BT 342.11 275.30 Td (granted ) Tj ET Q q 0 0 0 rg BT 368.36 275.30 Td (by ) Tj ET Q q 0 0 0 rg BT 378.63 275.30 Td (the ) Tj ET Q q 0 0 0 rg BT 390.66 275.30 Td (Romanian ) Tj ET Q q 0 0 0 rg BT 425.81 275.30 Td (Media ) Tj ET Q q 0 0 0 rg BT 448.50 275.30 Td (Council, ) Tj ET Q q 0 0 0 rg BT 478.10 275.30 Td (the ) Tj ET Q q 0 0 0 rg BT 490.13 275.30 Td (National ) Tj ET Q q 0 0 0 rg BT 519.44 275.30 Td (Audio-V) Tj ET Q q 0 0 0 rg BT 547.40 275.30 Td (isual ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 265.70 Td (Council. ) Tj ET Q q 0 0 0 rg BT 78.82 265.70 Td (PRO ) Tj ET Q q 0 0 0 rg BT 96.22 265.70 Td (TV) Tj ET Q q 0 0 0 rg BT 106.74 265.70 Td ( ) Tj ET Q q 0 0 0 rg BT 108.72 265.70 Td (also ) Tj ET Q q 0 0 0 rg BT 123.59 265.70 Td (broadcasts ) Tj ET Q q 0 0 0 rg BT 159.34 265.70 Td (using ) Tj ET Q q 0 0 0 rg BT 178.66 265.70 Td (a ) Tj ET Q q 0 0 0 rg BT 184.19 265.70 Td (national ) Tj ET Q q 0 0 0 rg BT 211.95 265.70 Td (satellite ) Tj ET Q q 0 0 0 rg BT 238.81 265.70 Td (license. ) Tj ET Q q 0 0 0 rg BT 265.00 265.70 Td (Our ) Tj ET Q q 0 0 0 rg BT 279.43 265.70 Td (other ) Tj ET Q q 0 0 0 rg BT 297.85 265.70 Td (Romanian ) Tj ET Q q 0 0 0 rg BT 332.71 265.70 Td (channels ) Tj ET Q q 0 0 0 rg BT 362.69 265.70 Td (\(ACASA, ) Tj ET Q q 0 0 0 rg BT 396.01 265.70 Td (ACASA) Tj ET Q q 0 0 0 rg BT 422.69 265.70 Td ( ) Tj ET Q q 0 0 0 rg BT 424.67 265.70 Td (GOLD, ) Tj ET Q q 0 0 0 rg BT 450.88 265.70 Td (PRO ) Tj ET Q q 0 0 0 rg BT 468.42 265.70 Td (CINEMA, ) Tj ET Q q 0 0 0 rg BT 503.96 265.70 Td (SPOR) Tj ET Q q 0 0 0 rg BT 523.49 265.70 Td (T) Tj ET Q q 0 0 0 rg BT 527.78 265.70 Td (.RO, ) Tj ET Q q 0 0 0 rg BT 544.88 265.70 Td (MTV) Tj ET Q q 0 0 0 rg BT 562.51 265.70 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 256.10 Td (ROMANIA) Tj ET Q q 0 0 0 rg BT 87.28 256.10 Td ( ) Tj ET Q q 0 0 0 rg BT 89.01 256.10 Td (and ) Tj ET Q q 0 0 0 rg BT 102.29 256.10 Td (PRO ) Tj ET Q q 0 0 0 rg BT 119.46 256.10 Td (TV) Tj ET Q q 0 0 0 rg BT 129.98 256.10 Td ( ) Tj ET Q q 0 0 0 rg BT 131.71 256.10 Td (INTERNA) Tj ET Q q 0 0 0 rg BT 165.93 256.10 Td (TIONAL\) ) Tj ET Q q 0 0 0 rg BT 200.09 256.10 Td (each ) Tj ET Q q 0 0 0 rg BT 216.48 256.10 Td (has ) Tj ET Q q 0 0 0 rg BT 228.87 256.10 Td (a ) Tj ET Q q 0 0 0 rg BT 234.15 256.10 Td (national ) Tj ET Q q 0 0 0 rg BT 261.65 256.10 Td (satellite ) Tj ET Q q 0 0 0 rg BT 288.26 256.10 Td (license. ) Tj ET Q q 0 0 0 rg BT 314.20 256.10 Td (Licenses ) Tj ET Q q 0 0 0 rg BT 343.92 256.10 Td (for ) Tj ET Q q 0 0 0 rg BT 354.98 256.10 Td (our ) Tj ET Q q 0 0 0 rg BT 367.38 256.10 Td (Romanian ) Tj ET Q q 0 0 0 rg BT 401.99 256.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 437.04 256.10 Td (expire ) Tj ET Q q 0 0 0 rg BT 458.76 256.10 Td (on ) Tj ET Q q 0 0 0 rg BT 468.49 256.10 Td (dates ) Tj ET Q q 0 0 0 rg BT 486.66 256.10 Td (ranging ) Tj ET Q q 0 0 0 rg BT 512.83 256.10 Td (from ) Tj ET Q q 0 0 0 rg BT 530.11 256.10 Td (June ) Tj ET Q q 0 0 0 rg BT 546.50 256.10 Td (2015 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 246.50 Td (to ) Tj ET Q q 0 0 0 rg BT 58.04 246.50 Td (May ) Tj ET Q q 0 0 0 rg BT 75.03 246.50 Td (2023 ) Tj ET Q q 0 0 0 rg BT 93.35 246.50 Td (and ) Tj ET Q q 0 0 0 rg BT 107.22 246.50 Td (are ) Tj ET Q q 0 0 0 rg BT 119.30 246.50 Td (renewed ) Tj ET Q q 0 0 0 rg BT 148.72 246.50 Td (upon ) Tj ET Q q 0 0 0 rg BT 167.04 246.50 Td (application ) Tj ET Q q 0 0 0 rg BT 204.90 246.50 Td (to ) Tj ET Q q 0 0 0 rg BT 213.45 246.50 Td (the ) Tj ET Q q 0 0 0 rg BT 225.54 246.50 Td (Romanian ) Tj ET Q q 0 0 0 rg BT 260.74 246.50 Td (Media ) Tj ET Q q 0 0 0 rg BT 283.50 246.50 Td (Council. ) Tj ET Q q 0 0 0 rg BT 313.15 246.50 Td (From ) Tj ET Q q 0 0 0 rg BT 332.81 246.50 Td (2009, ) Tj ET Q q 0 0 0 rg BT 353.13 246.50 Td (the ) Tj ET Q q 0 0 0 rg BT 365.22 246.50 Td (Romanian ) Tj ET Q q 0 0 0 rg BT 400.43 246.50 Td (Media ) Tj ET Q q 0 0 0 rg BT 423.18 246.50 Td (Council ) Tj ET Q q 0 0 0 rg BT 450.84 246.50 Td (may ) Tj ET Q q 0 0 0 rg BT 466.93 246.50 Td (only ) Tj ET Q q 0 0 0 rg BT 483.47 246.50 Td (extend ) Tj ET Q q 0 0 0 rg BT 507.12 246.50 Td (the ) Tj ET Q q 0 0 0 rg BT 519.21 246.50 Td (validity ) Tj ET Q q 0 0 0 rg BT 545.97 246.50 Td (of ) Tj ET Q q 0 0 0 rg BT 554.96 246.50 Td (an ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 236.90 Td (analog ) Tj ET Q q 0 0 0 rg BT 72.46 236.90 Td (terrestrial ) Tj ET Q q 0 0 0 rg BT 104.75 236.90 Td (license ) Tj ET Q q 0 0 0 rg BT 128.60 236.90 Td (until ) Tj ET Q q 0 0 0 rg BT 144.90 236.90 Td (the ) Tj ET Q q 0 0 0 rg BT 156.31 236.90 Td (date ) Tj ET Q q 0 0 0 rg BT 171.28 236.90 Td (of ) Tj ET Q q 0 0 0 rg BT 179.58 236.90 Td (the ) Tj ET Q q 0 0 0 rg BT 190.99 236.90 Td (digital ) Tj ET Q q 0 0 0 rg BT 213.07 236.90 Td (switchover) Tj ET Q q 0 0 0 rg BT 247.85 236.90 Td (, ) Tj ET Q q 0 0 0 rg BT 251.49 236.90 Td (which ) Tj ET Q q 0 0 0 rg BT 272.67 236.90 Td (is ) Tj ET Q q 0 0 0 rg BT 279.65 236.90 Td (expected ) Tj ET Q q 0 0 0 rg BT 309.71 236.90 Td (to ) Tj ET Q q 0 0 0 rg BT 317.57 236.90 Td (occur ) Tj ET Q q 0 0 0 rg BT 336.98 236.90 Td (in ) Tj ET Q q 0 0 0 rg BT 344.84 236.90 Td (June ) Tj ET Q q 0 0 0 rg BT 361.14 236.90 Td (2015, ) Tj ET Q q 0 0 0 rg BT 380.78 236.90 Td (although ) Tj ET Q q 0 0 0 rg BT 410.41 236.90 Td (this ) Tj ET Q q 0 0 0 rg BT 423.61 236.90 Td (may ) Tj ET Q q 0 0 0 rg BT 439.02 236.90 Td (be ) Tj ET Q q 0 0 0 rg BT 448.21 236.90 Td (subject ) Tj ET Q q 0 0 0 rg BT 472.50 236.90 Td (to ) Tj ET Q q 0 0 0 rg BT 480.36 236.90 Td (delays ) Tj ET Q q 0 0 0 rg BT 502.44 236.90 Td (in ) Tj ET Q q 0 0 0 rg BT 510.30 236.90 Td (implementation. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 227.30 Td (PRO ) Tj ET Q q 0 0 0 rg BT 66.38 227.30 Td (TV) Tj ET Q q 0 0 0 rg BT 76.90 227.30 Td ( ) Tj ET Q q 0 0 0 rg BT 78.32 227.30 Td (and ) Tj ET Q q 0 0 0 rg BT 91.30 227.30 Td (SPOR) Tj ET Q q 0 0 0 rg BT 110.83 227.30 Td (T) Tj ET Q q 0 0 0 rg BT 115.12 227.30 Td (.RO ) Tj ET Q q 0 0 0 rg BT 129.66 227.30 Td (also ) Tj ET Q q 0 0 0 rg BT 143.96 227.30 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 176.04 227.30 Td (in ) Tj ET Q q 0 0 0 rg BT 183.68 227.30 Td (high-definition ) Tj ET Q q 0 0 0 rg BT 233.10 227.30 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 262.07 227.30 Td (to ) Tj ET Q q 0 0 0 rg BT 269.71 227.30 Td (experimental ) Tj ET Q q 0 0 0 rg BT 312.89 227.30 Td (terrestrial ) Tj ET Q q 0 0 0 rg BT 344.96 227.30 Td (licenses ) Tj ET Q q 0 0 0 rg BT 371.71 227.30 Td (that ) Tj ET Q q 0 0 0 rg BT 385.13 227.30 Td (are ) Tj ET Q q 0 0 0 rg BT 396.32 227.30 Td (valid ) Tj ET Q q 0 0 0 rg BT 413.73 227.30 Td (until ) Tj ET Q q 0 0 0 rg BT 429.82 227.30 Td (the ) Tj ET Q q 0 0 0 rg BT 441.02 227.30 Td (digital ) Tj ET Q q 0 0 0 rg BT 462.88 227.30 Td (switchover) Tj ET Q q 0 0 0 rg BT 497.54 227.30 Td (. ) Tj ET Q q 0 0 0 rg BT 500.65 227.30 Td (ACASA) Tj ET Q q 0 0 0 rg BT 527.33 227.30 Td ( ) Tj ET Q q 0 0 0 rg BT 528.75 227.30 Td (broadcasts ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 217.70 Td (in ) Tj ET Q q 0 0 0 rg BT 57.45 217.70 Td (high-definition ) Tj ET Q q 0 0 0 rg BT 107.17 217.70 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 136.45 217.70 Td (to ) Tj ET Q q 0 0 0 rg BT 144.39 217.70 Td (a ) Tj ET Q q 0 0 0 rg BT 149.67 217.70 Td (written ) Tj ET Q q 0 0 0 rg BT 174.06 217.70 Td (consent ) Tj ET Q q 0 0 0 rg BT 200.22 217.70 Td (from ) Tj ET Q q 0 0 0 rg BT 217.50 217.70 Td (the ) Tj ET Q q 0 0 0 rg BT 229.00 217.70 Td (Media ) Tj ET Q q 0 0 0 rg BT 251.16 217.70 Td (Council ) Tj ET Q q 0 0 0 rg BT 278.22 217.70 Td (and ) Tj ET Q q 0 0 0 rg BT 291.12 217.70 Td (ACASA) Tj ET Q q 0 0 0 rg BT 317.79 217.70 Td ( ) Tj ET Q q 0 0 0 rg BT 319.52 217.70 Td (GOLD ) Tj ET Q q 0 0 0 rg BT 343.47 217.70 Td (broadcasts ) Tj ET Q q 0 0 0 rg BT 378.96 217.70 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 408.24 217.70 Td (to ) Tj ET Q q 0 0 0 rg BT 416.19 217.70 Td (a ) Tj ET Q q 0 0 0 rg BT 421.46 217.70 Td (national ) Tj ET Q q 0 0 0 rg BT 448.96 217.70 Td (satellite ) Tj ET Q q 0 0 0 rg BT 475.56 217.70 Td (license ) Tj ET Q q 0 0 0 rg BT 499.50 217.70 Td (that ) Tj ET Q q 0 0 0 rg BT 513.22 217.70 Td (expires ) Tj ET Q q 0 0 0 rg BT 538.05 217.70 Td (in ) Tj ET Q q 0 0 0 rg BT 545.62 217.70 Td (April ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 208.10 Td (2021. ) Tj ET Q q 0 0 0 rg BT 69.51 208.10 Td (PRO ) Tj ET Q q 0 0 0 rg BT 86.95 208.10 Td (TV) Tj ET Q q 0 0 0 rg BT 97.47 208.10 Td ( ) Tj ET Q q 0 0 0 rg BT 99.48 208.10 Td (CHISINAU ) Tj ET Q q 0 0 0 rg BT 139.72 208.10 Td (broadcasts ) Tj ET Q q 0 0 0 rg BT 175.50 208.10 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 205.06 208.10 Td (to ) Tj ET Q q 0 0 0 rg BT 213.30 208.10 Td (an ) Tj ET Q q 0 0 0 rg BT 222.87 208.10 Td (analog ) Tj ET Q q 0 0 0 rg BT 246.21 208.10 Td (license ) Tj ET Q q 0 0 0 rg BT 270.43 208.10 Td (granted ) Tj ET Q q 0 0 0 rg BT 296.43 208.10 Td (by ) Tj ET Q q 0 0 0 rg BT 306.45 208.10 Td (the ) Tj ET Q q 0 0 0 rg BT 317.79 208.10 Td (Audio-V) Tj ET Q q 0 0 0 rg BT 345.75 208.10 Td (isual ) Tj ET Q q 0 0 0 rg BT 362.88 208.10 Td (Coordinating ) Tj ET Q q 0 0 0 rg BT 407.11 208.10 Td (Council ) Tj ET Q q 0 0 0 rg BT 434.46 208.10 Td (of ) Tj ET Q q 0 0 0 rg BT 443.14 208.10 Td (the ) Tj ET Q q 0 0 0 rg BT 454.92 208.10 Td (Republic ) Tj ET Q q 0 0 0 rg BT 485.82 208.10 Td (of ) Tj ET Q q 0 0 0 rg BT 494.50 208.10 Td (Moldova ) Tj ET Q q 0 0 0 rg BT 525.40 208.10 Td (that ) Tj ET Q q 0 0 0 rg BT 539.41 208.10 Td (expires ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 198.50 Td (in ) Tj ET Q q 0 0 0 rg BT 57.72 198.50 Td (November ) Tj ET Q q 0 0 0 rg BT 93.49 198.50 Td (2016 ) Tj ET Q q 0 0 0 rg BT 111.49 198.50 Td (and ) Tj ET Q q 0 0 0 rg BT 124.60 198.50 Td (ACASA) Tj ET Q q 0 0 0 rg BT 151.27 198.50 Td ( ) Tj ET Q q 0 0 0 rg BT 153.27 198.50 Td (IN ) Tj ET Q q 0 0 0 rg BT 163.71 198.50 Td (MOLDOV) Tj ET Q q 0 0 0 rg BT 197.79 198.50 Td (A) Tj ET Q q 0 0 0 rg BT 203.13 198.50 Td ( ) Tj ET Q q 0 0 0 rg BT 205.13 198.50 Td (broadcasts ) Tj ET Q q 0 0 0 rg BT 240.89 198.50 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 270.45 198.50 Td (to ) Tj ET Q q 0 0 0 rg BT 278.67 198.50 Td (a ) Tj ET Q q 0 0 0 rg BT 284.22 198.50 Td (cable ) Tj ET Q q 0 0 0 rg BT 303.09 198.50 Td (license ) Tj ET Q q 0 0 0 rg BT 327.30 198.50 Td (that ) Tj ET Q q 0 0 0 rg BT 341.30 198.50 Td (expires ) Tj ET Q q 0 0 0 rg BT 366.40 198.50 Td (in ) Tj ET Q q 0 0 0 rg BT 374.63 198.50 Td (December ) Tj ET Q q 0 0 0 rg BT 409.49 198.50 Td (2017.) 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rg BT 284.36 173.30 Td (valid ) Tj ET Q q 0 0 0 rg BT 302.35 173.30 Td (for ) Tj ET Q q 0 0 0 rg BT 313.68 173.30 Td (an ) Tj ET Q q 0 0 0 rg BT 323.23 173.30 Td (indefinite ) Tj ET Q q 0 0 0 rg BT 355.89 173.30 Td (period. ) Tj ET Q BT /F1 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 49.5 156.63359375000005 m 77.49609375 156.63359375000005 l s q 0 0 0 rg BT 49.50 157.70 Td (Slovenia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 77.50 157.70 Td (: ) Tj ET Q q 0 0 0 rg BT 81.83 157.70 Td (Our ) Tj ET Q q 0 0 0 rg BT 96.38 157.70 Td (Slovenian ) Tj ET Q q 0 0 0 rg BT 130.48 157.70 Td (channels ) Tj ET Q q 0 0 0 rg BT 160.58 157.70 Td (POP) Tj ET Q q 0 0 0 rg BT 174.96 157.70 Td ( ) Tj ET Q q 0 0 0 rg BT 176.92 157.70 Td (TV) Tj ET Q q 0 0 0 rg BT 186.55 157.70 Td (, ) Tj ET Q q 0 0 0 rg BT 190.66 157.70 Td (KANAL) Tj ET Q q 0 0 0 rg BT 218.36 157.70 Td ( ) Tj ET Q q 0 0 0 rg BT 220.00 157.70 Td (A, ) Tj ET Q q 0 0 0 rg BT 229.89 157.70 Td (KINO, ) Tj ET Q q 0 0 0 rg BT 254.00 157.70 Td (BRIO ) Tj ET Q q 0 0 0 rg BT 275.22 157.70 Td (and ) Tj ET Q q 0 0 0 rg BT 288.88 157.70 Td (OT) Tj ET Q q 0 0 0 rg BT 299.40 157.70 Td (O ) Tj ET Q q 0 0 0 rg BT 307.28 157.70 Td (each ) Tj ET Q q 0 0 0 rg BT 324.05 157.70 Td (have ) Tj ET Q q 0 0 0 rg BT 341.26 157.70 Td (licenses ) Tj ET Q q 0 0 0 rg BT 368.69 157.70 Td (granted ) Tj ET Q q 0 0 0 rg BT 394.79 157.70 Td (by ) Tj ET Q q 0 0 0 rg BT 404.90 157.70 Td (the ) Tj ET Q q 0 0 0 rg BT 416.78 157.70 Td (Post ) Tj ET Q q 0 0 0 rg BT 432.68 157.70 Td (and ) Tj ET Q q 0 0 0 rg BT 446.34 157.70 Td (Electronic ) Tj ET Q q 0 0 0 rg BT 481.32 157.70 Td (Communications ) Tj ET Q q 0 0 0 rg BT 537.62 157.70 Td (Agency ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 148.10 Td (of ) Tj ET Q q 0 0 0 rg BT 58.53 148.10 Td (the ) Tj ET Q q 0 0 0 rg BT 70.67 148.10 Td (Republic ) Tj ET Q q 0 0 0 rg BT 101.92 148.10 Td (of ) Tj ET Q q 0 0 0 rg BT 110.95 148.10 Td (Slovenia, ) Tj ET Q q 0 0 0 rg BT 143.31 148.10 Td (the ) Tj ET Q q 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rg BT 78.82 138.50 Td (an ) Tj ET Q q 0 0 0 rg BT 88.38 138.50 Td (indefinite ) Tj ET Q q 0 0 0 rg BT 121.03 138.50 Td (time ) Tj ET Q q 0 0 0 rg BT 137.25 138.50 Td (period. ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 119.90 Td (OTHER ) Tj ET Q q 0 0 0 rg BT 80.39 119.90 Td (INFORMA) Tj ET Q q 0 0 0 rg BT 118.91 119.90 Td (TION) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 101.30 Td (Employees) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 85.70 Td (As ) Tj ET Q q 0 0 0 rg BT 61.00 85.70 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.28 85.70 Td (December31, ) Tj ET Q q 0 0 0 rg BT 117.76 85.70 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 133.76 85.70 Td (, ) Tj ET Q q 0 0 0 rg BT 138.38 85.70 Td (we ) Tj ET Q q 0 0 0 rg BT 150.32 85.70 Td (had ) Tj ET Q q 0 0 0 rg BT 164.48 85.70 Td (a ) Tj ET Q q 0 0 0 rg BT 170.64 85.70 Td (total ) Tj ET Q q 0 0 0 rg BT 187.48 85.70 Td (of ) Tj ET Q q 0 0 0 rg BT 196.75 85.70 Td (approximately ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg 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466.20 Td (advertising ) Tj ET Q q 0 0 0 rg BT 452.75 466.20 Td (spending ) Tj ET Q q 0 0 0 rg BT 483.52 466.20 Td (in ) Tj ET Q q 0 0 0 rg BT 491.63 466.20 Td (our ) Tj ET Q q 0 0 0 rg BT 504.18 466.20 Td (markets ) Tj ET Q q 0 0 0 rg BT 531.39 466.20 Td (following ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 456.60 Td (the ) Tj ET Q q 0 0 0 rg BT 61.58 456.60 Td (onset ) Tj ET Q q 0 0 0 rg BT 80.78 456.60 Td (of ) Tj ET Q q 0 0 0 rg BT 89.75 456.60 Td (the ) Tj ET Q q 0 0 0 rg BT 101.83 456.60 Td (global ) Tj ET Q q 0 0 0 rg BT 124.13 456.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 154.42 456.60 Td (crisis ) Tj ET Q q 0 0 0 rg BT 173.62 456.60 Td (at ) Tj ET Q q 0 0 0 rg BT 181.70 456.60 Td (the ) Tj ET Q q 0 0 0 rg BT 193.78 456.60 Td (beginning ) Tj ET Q q 0 0 0 rg BT 228.08 456.60 Td (of ) Tj ET Q q 0 0 0 rg BT 237.06 456.60 Td (2009 ) Tj ET Q q 0 0 0 rg BT 255.36 456.60 Td (had ) Tj ET Q q 0 0 0 rg BT 269.22 456.60 Td (a ) Tj ET Q q 0 0 0 rg BT 275.08 456.60 Td (negative ) Tj ET Q q 0 0 0 rg BT 304.49 456.60 Td (ef) Tj ET Q q 0 0 0 rg BT 310.56 456.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 324.85 456.60 Td (on ) Tj ET Q q 0 0 0 rg BT 335.16 456.60 Td (television ) Tj ET Q q 0 0 0 rg BT 368.57 456.60 Td (advertising ) Tj ET Q q 0 0 0 rg BT 406.43 456.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 427.84 456.60 Td (because ) Tj ET Q q 0 0 0 rg BT 455.46 456.60 Td (of ) Tj ET Q q 0 0 0 rg BT 464.43 456.60 Td (pressure ) Tj ET Q q 0 0 0 rg BT 493.40 456.60 Td (to ) Tj ET Q q 0 0 0 rg BT 501.93 456.60 Td (reduce ) Tj ET Q q 0 0 0 rg BT 525.55 456.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 546.96 456.60 Td (from ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 447.00 Td (advertisers ) Tj ET Q q 0 0 0 rg BT 86.58 447.00 Td (and ) Tj ET Q q 0 0 0 rg BT 100.55 447.00 Td (discounting ) Tj ET Q q 0 0 0 rg BT 140.30 447.00 Td (by ) Tj ET Q q 0 0 0 rg BT 150.73 447.00 Td (competitors. ) Tj ET Q q 0 0 0 rg BT 192.74 447.00 Td (W) Tj ET Q q 0 0 0 rg BT 199.65 447.00 Td (e ) Tj ET Q q 0 0 0 rg BT 205.63 447.00 Td (attempted ) Tj ET Q q 0 0 0 rg BT 239.59 447.00 Td (to ) Tj ET Q q 0 0 0 rg BT 248.24 447.00 Td (combat ) Tj ET Q q 0 0 0 rg BT 274.21 447.00 Td (this ) Tj ET Q q 0 0 0 rg BT 288.19 447.00 Td (fall ) Tj ET Q q 0 0 0 rg BT 301.27 447.00 Td (in ) Tj ET Q q 0 0 0 rg BT 309.92 447.00 Td (prices ) Tj ET Q q 0 0 0 rg BT 331.44 447.00 Td (by ) Tj ET Q q 0 0 0 rg BT 341.87 447.00 Td (implementing ) Tj ET Q q 0 0 0 rg BT 388.73 447.00 Td (a ) Tj ET Q q 0 0 0 rg BT 394.70 447.00 Td (new ) Tj ET Q q 0 0 0 rg BT 410.45 447.00 Td (pricing ) Tj ET Q q 0 0 0 rg BT 435.53 447.00 Td (strategy ) Tj ET Q q 0 0 0 rg BT 463.28 447.00 Td (in ) Tj ET Q q 0 0 0 rg BT 471.93 447.00 Td (2013. ) Tj ET Q q 0 0 0 rg BT 492.17 447.00 Td (There ) Tj ET Q q 0 0 0 rg BT 513.25 447.00 Td (was ) Tj ET Q q 0 0 0 rg BT 528.11 447.00 Td (an ) Tj ET Q q 0 0 0 rg BT 538.09 447.00 Td (adverse ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 437.40 Td (reaction ) Tj ET Q q 0 0 0 rg BT 77.21 437.40 Td (to ) Tj ET Q q 0 0 0 rg BT 85.38 437.40 Td (this ) Tj ET Q q 0 0 0 rg BT 98.88 437.40 Td (strategy ) Tj ET Q q 0 0 0 rg BT 126.15 437.40 Td (from ) Tj ET Q q 0 0 0 rg BT 143.64 437.40 Td (agencies ) Tj ET Q q 0 0 0 rg BT 173.13 437.40 Td (and ) Tj ET Q q 0 0 0 rg BT 186.63 437.40 Td (advertisers, ) Tj ET Q q 0 0 0 rg BT 225.22 437.40 Td (particularly ) Tj ET Q q 0 0 0 rg BT 264.04 437.40 Td (in ) Tj ET Q q 0 0 0 rg BT 272.21 437.40 Td (the ) Tj ET Q q 0 0 0 rg BT 283.93 437.40 Td (Czech ) Tj ET Q q 0 0 0 rg BT 305.86 437.40 Td (Republic, ) Tj ET Q q 0 0 0 rg BT 338.69 437.40 Td (which ) Tj ET Q q 0 0 0 rg BT 360.18 437.40 Td (resulted ) Tj ET Q q 0 0 0 rg BT 387.45 437.40 Td (in ) Tj ET Q q 0 0 0 rg BT 395.62 437.40 Td (a ) Tj ET Q q 0 0 0 rg BT 401.12 437.40 Td (significant ) Tj ET Q q 0 0 0 rg BT 436.83 437.40 Td (decrease ) Tj ET Q q 0 0 0 rg BT 466.31 437.40 Td (in ) Tj ET Q q 0 0 0 rg BT 474.48 437.40 Td (revenues ) Tj ET Q q 0 0 0 rg BT 504.85 437.40 Td (in ) Tj ET Q q 0 0 0 rg BT 513.02 437.40 Td (2013 ) Tj ET Q q 0 0 0 rg BT 530.96 437.40 Td (compared ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 427.80 Td (to ) Tj ET Q q 0 0 0 rg BT 58.00 427.80 Td (2012. ) Tj ET Q q 0 0 0 rg BT 78.11 427.80 Td (While ) Tj ET Q q 0 0 0 rg BT 99.93 427.80 Td (we ) Tj ET Q q 0 0 0 rg BT 111.53 427.80 Td (made ) Tj ET Q q 0 0 0 rg BT 131.13 427.80 Td (significant ) Tj ET Q q 0 0 0 rg BT 167.18 427.80 Td (progress ) Tj ET Q q 0 0 0 rg BT 196.56 427.80 Td (last ) Tj ET Q q 0 0 0 rg BT 209.94 427.80 Td (year ) Tj ET Q q 0 0 0 rg BT 225.99 427.80 Td (regaining ) Tj ET Q q 0 0 0 rg BT 258.47 427.80 Td (advertising ) Tj ET Q q 0 0 0 rg BT 296.29 427.80 Td (market ) Tj ET Q q 0 0 0 rg BT 320.78 427.80 Td (share ) Tj ET Q q 0 0 0 rg BT 339.94 427.80 Td (lost ) Tj ET Q q 0 0 0 rg BT 353.77 427.80 Td (in ) Tj ET Q q 0 0 0 rg BT 362.27 427.80 Td (2013 ) Tj ET Q q 0 0 0 rg BT 380.54 427.80 Td (and ) Tj ET Q q 0 0 0 rg BT 394.37 427.80 Td (anticipate ) Tj ET Q q 0 0 0 rg BT 427.74 427.80 Td (revenues ) Tj ET Q q 0 0 0 rg BT 458.44 427.80 Td (will ) Tj ET Q q 0 0 0 rg BT 473.16 427.80 Td (increase ) Tj ET Q q 0 0 0 rg BT 501.64 427.80 Td (in ) Tj ET Q q 0 0 0 rg BT 510.14 427.80 Td (2015, ) Tj ET Q q 0 0 0 rg BT 530.42 427.80 Td (we ) Tj ET Q q 0 0 0 rg BT 542.02 427.80 Td (do ) Tj ET Q q 0 0 0 rg BT 552.29 427.80 Td (not ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 418.20 Td (expect ) Tj ET Q q 0 0 0 rg BT 72.38 418.20 Td (to ) Tj ET Q q 0 0 0 rg BT 80.60 418.20 Td (reach ) Tj ET Q q 0 0 0 rg BT 99.91 418.20 Td (2012 ) Tj ET Q q 0 0 0 rg BT 117.91 418.20 Td (levels ) Tj ET Q q 0 0 0 rg BT 138.57 418.20 Td (during ) Tj ET Q q 0 0 0 rg BT 161.46 418.20 Td (the ) Tj ET Q q 0 0 0 rg BT 173.23 418.20 Td (year) Tj ET Q q 0 0 0 rg BT 186.56 418.20 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 402.60 Td (In ) Tj ET Q q 0 0 0 rg BT 57.93 402.60 Td (addition ) Tj ET Q q 0 0 0 rg BT 85.92 402.60 Td (to ) Tj ET Q q 0 0 0 rg BT 93.91 402.60 Td (general ) Tj ET Q q 0 0 0 rg BT 119.22 402.60 Td (economic ) Tj ET Q q 0 0 0 rg BT 152.08 402.60 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 189.19 402.60 Td (other ) Tj ET Q q 0 0 0 rg BT 207.39 402.60 Td (factors ) Tj ET Q q 0 0 0 rg BT 230.93 402.60 Td (that ) Tj ET Q q 0 0 0 rg BT 244.69 402.60 Td (may ) Tj ET Q q 0 0 0 rg BT 260.23 402.60 Td (af) Tj ET Q q 0 0 0 rg BT 266.30 402.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 280.06 402.60 Td (our ) Tj ET Q q 0 0 0 rg BT 292.49 402.60 Td (advertising ) Tj ET Q q 0 0 0 rg BT 329.81 402.60 Td (sales ) Tj ET Q q 0 0 0 rg BT 347.13 402.60 Td (are ) Tj ET Q q 0 0 0 rg BT 358.66 402.60 Td (the ) Tj ET Q q 0 0 0 rg BT 370.20 402.60 Td (pricing ) Tj ET Q q 0 0 0 rg BT 394.63 402.60 Td (of ) Tj ET Q q 0 0 0 rg BT 403.06 402.60 Td (advertising ) Tj ET Q q 0 0 0 rg BT 440.38 402.60 Td (time ) Tj ET Q q 0 0 0 rg BT 456.37 402.60 Td (as ) Tj ET Q q 0 0 0 rg BT 464.80 402.60 Td (well ) Tj ET Q q 0 0 0 rg BT 480.34 402.60 Td (as ) Tj ET Q q 0 0 0 rg BT 488.77 402.60 Td (competition ) Tj ET Q q 0 0 0 rg BT 528.76 402.60 Td (from ) Tj ET Q q 0 0 0 rg BT 546.08 402.60 Td (other ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 393.00 Td (broadcasters ) Tj ET Q q 0 0 0 rg BT 91.95 393.00 Td (and ) Tj ET Q q 0 0 0 rg BT 105.98 393.00 Td (operators ) Tj ET Q q 0 0 0 rg BT 138.22 393.00 Td (of ) Tj ET Q q 0 0 0 rg BT 147.36 393.00 Td (other ) Tj ET Q q 0 0 0 rg BT 166.27 393.00 Td (distribution ) Tj ET Q q 0 0 0 rg BT 205.63 393.00 Td (platforms, ) Tj ET Q q 0 0 0 rg BT 240.76 393.00 Td (audience ) Tj ET Q q 0 0 0 rg BT 271.66 393.00 Td (ratings, ) Tj ET Q q 0 0 0 rg BT 297.91 393.00 Td (changes ) Tj ET Q q 0 0 0 rg BT 326.15 393.00 Td (in ) Tj ET Q q 0 0 0 rg BT 334.85 393.00 Td (programming ) Tj ET Q q 0 0 0 rg BT 380.87 393.00 Td (strategy) Tj ET Q q 0 0 0 rg BT 405.67 393.00 Td (, ) Tj ET Q q 0 0 0 rg BT 410.15 393.00 Td (changes ) Tj ET Q q 0 0 0 rg BT 438.38 393.00 Td (in ) Tj ET Q q 0 0 0 rg BT 447.08 393.00 Td (audience ) Tj ET Q q 0 0 0 rg BT 477.98 393.00 Td (preferences, ) Tj ET Q q 0 0 0 rg BT 519.31 393.00 Td (our ) Tj ET Q q 0 0 0 rg BT 532.45 393.00 Td (channels) Tj ET Q q 0 0 0 rg BT 562.51 393.00 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 383.40 Td (technical ) Tj ET Q q 0 0 0 rg BT 80.13 383.40 Td (reach, ) Tj ET Q q 0 0 0 rg BT 101.21 383.40 Td (technological ) Tj ET Q q 0 0 0 rg BT 146.06 383.40 Td (developments ) Tj ET Q q 0 0 0 rg BT 192.25 383.40 Td (relating ) Tj ET Q q 0 0 0 rg BT 218.45 383.40 Td (to ) Tj ET Q q 0 0 0 rg BT 226.43 383.40 Td (media ) Tj ET Q q 0 0 0 rg BT 247.74 383.40 Td (and ) Tj ET Q q 0 0 0 rg BT 261.05 383.40 Td (broadcasting, ) Tj ET Q q 0 0 0 rg BT 305.68 383.40 Td (seasonal ) Tj ET Q q 0 0 0 rg BT 334.54 383.40 Td (trends ) Tj ET Q q 0 0 0 rg BT 355.85 383.40 Td (in ) Tj ET Q q 0 0 0 rg BT 363.84 383.40 Td (the ) Tj ET Q q 0 0 0 rg BT 375.37 383.40 Td (advertising ) Tj ET Q q 0 0 0 rg BT 412.68 383.40 Td (market, ) Tj ET Q q 0 0 0 rg BT 438.65 383.40 Td (changing ) Tj ET Q q 0 0 0 rg BT 469.73 383.40 Td (preferences ) Tj ET Q q 0 0 0 rg BT 508.35 383.40 Td (in ) Tj ET Q q 0 0 0 rg BT 516.33 383.40 Td (how ) Tj ET Q q 0 0 0 rg BT 531.87 383.40 Td (and ) Tj ET Q q 0 0 0 rg BT 545.18 383.40 Td (when ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 373.80 Td (people ) Tj ET Q q 0 0 0 rg BT 72.81 373.80 Td (view ) Tj ET Q q 0 0 0 rg BT 90.34 373.80 Td (content ) Tj ET Q q 0 0 0 rg BT 115.87 373.80 Td (and ) Tj ET Q q 0 0 0 rg BT 129.40 373.80 Td (the ) Tj ET Q q 0 0 0 rg BT 141.15 373.80 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 189.78 373.80 Td (advertising, ) Tj ET Q q 0 0 0 rg BT 229.31 373.80 Td (increased ) Tj ET Q q 0 0 0 rg BT 261.50 373.80 Td (competition ) Tj ET Q q 0 0 0 rg BT 301.69 373.80 Td (for ) Tj ET Q q 0 0 0 rg BT 313.00 373.80 Td (the ) Tj ET Q q 0 0 0 rg BT 324.76 373.80 Td (leisure ) Tj ET Q q 0 0 0 rg BT 348.06 373.80 Td (time ) Tj ET Q q 0 0 0 rg BT 364.26 373.80 Td (of ) Tj ET Q q 0 0 0 rg BT 372.91 373.80 Td (audiences ) Tj ET Q q 0 0 0 rg BT 406.43 373.80 Td (and ) Tj ET Q q 0 0 0 rg BT 419.96 373.80 Td (shifts ) Tj ET Q q 0 0 0 rg BT 439.28 373.80 Td (in ) Tj ET Q q 0 0 0 rg BT 447.48 373.80 Td (population ) Tj ET Q q 0 0 0 rg BT 483.68 373.80 Td (and ) Tj ET Q q 0 0 0 rg BT 497.21 373.80 Td (other ) Tj ET Q q 0 0 0 rg BT 515.63 373.80 Td (demographics. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 364.20 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 88.97 364.20 Td (, ) Tj ET Q q 0 0 0 rg BT 93.06 364.20 Td (our ) Tj ET Q q 0 0 0 rg BT 105.81 364.20 Td (advertising ) Tj ET Q q 0 0 0 rg BT 143.45 364.20 Td (revenues ) Tj ET Q q 0 0 0 rg BT 173.96 364.20 Td (also ) Tj ET Q q 0 0 0 rg BT 188.94 364.20 Td (depend ) Tj ET Q q 0 0 0 rg BT 214.13 364.20 Td (on ) Tj ET Q q 0 0 0 rg BT 224.22 364.20 Td (our ) Tj ET Q q 0 0 0 rg BT 236.97 364.20 Td (ability ) Tj ET Q q 0 0 0 rg BT 259.50 364.20 Td (to ) Tj ET Q q 0 0 0 rg BT 267.81 364.20 Td (maintain ) Tj ET Q q 0 0 0 rg BT 297.90 364.20 Td (audience ) Tj ET Q q 0 0 0 rg BT 328.41 364.20 Td (ratings ) Tj ET Q q 0 0 0 rg BT 352.27 364.20 Td (and ) Tj ET Q q 0 0 0 rg BT 365.91 364.20 Td (to ) Tj ET Q q 0 0 0 rg BT 374.22 364.20 Td (generate ) Tj ET Q q 0 0 0 rg BT 403.40 364.20 Td (GRPs, ) Tj ET Q q 0 0 0 rg BT 426.17 364.20 Td (which ) Tj ET Q q 0 0 0 rg BT 447.81 364.20 Td (requires ) Tj ET Q q 0 0 0 rg BT 475.66 364.20 Td (maintaining ) Tj ET Q q 0 0 0 rg BT 515.96 364.20 Td (investments ) Tj ET Q q 0 0 0 rg BT 556.27 364.20 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 354.60 Td (television ) Tj ET Q q 0 0 0 rg BT 82.68 354.60 Td (programming ) Tj ET Q q 0 0 0 rg BT 128.30 354.60 Td (and ) Tj ET Q q 0 0 0 rg BT 141.93 354.60 Td (productions ) Tj ET Q q 0 0 0 rg BT 181.78 354.60 Td (at ) Tj ET Q q 0 0 0 rg BT 189.63 354.60 Td (a ) Tj ET Q q 0 0 0 rg BT 195.25 354.60 Td (suf) Tj ET Q q 0 0 0 rg BT 204.88 354.60 Td (ficient ) Tj ET Q q 0 0 0 rg BT 227.39 354.60 Td (level ) Tj ET Q q 0 0 0 rg BT 245.02 354.60 Td (to ) Tj ET Q q 0 0 0 rg BT 253.31 354.60 Td (continue ) Tj ET Q q 0 0 0 rg BT 282.94 354.60 Td (to ) Tj ET Q q 0 0 0 rg BT 291.23 354.60 Td (attract ) Tj ET Q q 0 0 0 rg BT 313.29 354.60 Td (audiences. ) Tj ET Q q 0 0 0 rg BT 348.91 354.60 Td (Significant ) Tj ET Q q 0 0 0 rg BT 386.09 354.60 Td (or ) Tj ET Q q 0 0 0 rg BT 394.83 354.60 Td (sustained ) Tj ET Q q 0 0 0 rg BT 426.68 354.60 Td (reductions ) Tj ET Q q 0 0 0 rg BT 462.08 354.60 Td (in ) Tj ET Q q 0 0 0 rg BT 470.37 354.60 Td (investments ) Tj ET Q q 0 0 0 rg BT 510.67 354.60 Td (in ) Tj ET Q q 0 0 0 rg BT 518.96 354.60 Td (programming ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 345.00 Td (that ) Tj ET Q q 0 0 0 rg BT 63.78 345.00 Td (attracts ) Tj ET Q q 0 0 0 rg BT 89.17 345.00 Td (such ) Tj ET Q q 0 0 0 rg BT 106.12 345.00 Td (audiences ) Tj ET Q q 0 0 0 rg BT 139.95 345.00 Td (or ) Tj ET Q q 0 0 0 rg BT 148.90 345.00 Td (other ) Tj ET Q q 0 0 0 rg BT 167.62 345.00 Td (operating ) Tj ET Q q 0 0 0 rg BT 200.12 345.00 Td (costs ) Tj ET Q q 0 0 0 rg BT 218.41 345.00 Td (in ) Tj ET Q q 0 0 0 rg BT 226.92 345.00 Td (response ) Tj ET Q q 0 0 0 rg BT 257.20 345.00 Td (to ) Tj ET Q q 0 0 0 rg BT 265.71 345.00 Td (reduced ) Tj ET Q q 0 0 0 rg BT 293.31 345.00 Td (advertising ) Tj ET Q q 0 0 0 rg BT 331.14 345.00 Td (spending ) Tj ET Q q 0 0 0 rg BT 362.32 345.00 Td (in ) Tj ET Q q 0 0 0 rg BT 370.83 345.00 Td (our ) Tj ET Q q 0 0 0 rg BT 383.78 345.00 Td (markets ) Tj ET Q q 0 0 0 rg BT 411.39 345.00 Td (have ) Tj ET Q q 0 0 0 rg BT 428.78 345.00 Td (had ) Tj ET Q q 0 0 0 rg BT 442.62 345.00 Td (and ) Tj ET Q q 0 0 0 rg BT 456.45 345.00 Td (may ) Tj ET Q q 0 0 0 rg BT 472.51 345.00 Td (continue ) Tj ET Q q 0 0 0 rg BT 502.35 345.00 Td (to ) Tj ET Q q 0 0 0 rg BT 510.86 345.00 Td (have ) Tj ET Q q 0 0 0 rg BT 528.25 345.00 Td (an ) Tj ET Q q 0 0 0 rg BT 538.08 345.00 Td (adverse ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 335.40 Td (impact ) Tj ET Q q 0 0 0 rg BT 72.89 335.40 Td (on ) Tj ET Q q 0 0 0 rg BT 82.51 335.40 Td (our ) Tj ET Q q 0 0 0 rg BT 94.79 335.40 Td (television ) Tj ET Q q 0 0 0 rg BT 127.52 335.40 Td (viewing ) Tj ET Q q 0 0 0 rg BT 154.91 335.40 Td (levels. ) Tj ET Q q 0 0 0 rg BT 177.19 335.40 Td (Reduced ) Tj ET Q q 0 0 0 rg BT 206.80 335.40 Td (advertising ) Tj ET Q q 0 0 0 rg BT 243.97 335.40 Td (spending, ) Tj ET Q q 0 0 0 rg BT 276.48 335.40 Td (resistance ) Tj ET Q q 0 0 0 rg BT 309.63 335.40 Td (to ) Tj ET Q q 0 0 0 rg BT 317.48 335.40 Td (price ) Tj ET Q q 0 0 0 rg BT 335.09 335.40 Td (increases ) Tj ET Q q 0 0 0 rg BT 366.02 335.40 Td (and ) Tj ET Q q 0 0 0 rg BT 379.19 335.40 Td (discounting ) Tj ET Q q 0 0 0 rg BT 418.15 335.40 Td (of ) Tj ET Q q 0 0 0 rg BT 426.43 335.40 Td (television ) Tj ET Q q 0 0 0 rg BT 459.16 335.40 Td (advertising ) Tj ET Q q 0 0 0 rg BT 496.32 335.40 Td (prices ) Tj ET Q q 0 0 0 rg BT 517.04 335.40 Td (in ) Tj ET Q q 0 0 0 rg BT 524.89 335.40 Td (our ) Tj ET Q q 0 0 0 rg BT 537.17 335.40 Td (markets ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 325.80 Td (as ) Tj ET Q q 0 0 0 rg BT 58.35 325.80 Td (well ) Tj ET Q q 0 0 0 rg BT 74.30 325.80 Td (as ) Tj ET Q q 0 0 0 rg BT 83.15 325.80 Td (competition ) Tj ET Q q 0 0 0 rg BT 123.54 325.80 Td (for ) Tj ET Q q 0 0 0 rg BT 135.05 325.80 Td (ratings ) Tj ET Q q 0 0 0 rg BT 159.01 325.80 Td (from ) Tj ET Q q 0 0 0 rg BT 176.74 325.80 Td (broadcasters ) Tj ET Q q 0 0 0 rg BT 218.90 325.80 Td (seeking ) Tj ET Q q 0 0 0 rg BT 245.52 325.80 Td (to ) Tj ET Q q 0 0 0 rg BT 253.93 325.80 Td (attract ) Tj ET Q q 0 0 0 rg BT 276.09 325.80 Td (similar ) Tj ET Q q 0 0 0 rg BT 300.49 325.80 Td (audiences ) Tj ET Q q 0 0 0 rg BT 334.21 325.80 Td (have ) Tj ET Q q 0 0 0 rg BT 351.50 325.80 Td (had ) Tj ET Q q 0 0 0 rg BT 365.23 325.80 Td (and ) Tj ET Q q 0 0 0 rg BT 378.96 325.80 Td (may ) Tj ET Q q 0 0 0 rg BT 394.92 325.80 Td (continue ) Tj ET Q q 0 0 0 rg BT 424.64 325.80 Td (to ) Tj ET Q q 0 0 0 rg BT 433.05 325.80 Td (have ) Tj ET Q q 0 0 0 rg BT 450.33 325.80 Td (an ) Tj ET Q q 0 0 0 rg BT 460.06 325.80 Td (adverse ) Tj ET Q q 0 0 0 rg BT 486.68 325.80 Td (impact ) Tj ET Q q 0 0 0 rg BT 510.63 325.80 Td (on ) Tj ET Q q 0 0 0 rg BT 520.81 325.80 Td (our ) Tj ET Q q 0 0 0 rg BT 533.65 325.80 Td (ability ) Tj ET Q q 0 0 0 rg BT 556.28 325.80 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 316.20 Td (maintain ) Tj ET Q q 0 0 0 rg BT 79.02 316.20 Td (our ) Tj ET Q q 0 0 0 rg BT 91.21 316.20 Td (advertising ) Tj ET Q q 0 0 0 rg BT 128.28 316.20 Td (sales. ) Tj ET Q q 0 0 0 rg BT 147.36 316.20 Td (Failure ) Tj ET Q q 0 0 0 rg BT 171.55 316.20 Td (to ) Tj ET Q q 0 0 0 rg BT 179.29 316.20 Td (maintain ) Tj ET Q q 0 0 0 rg BT 208.81 316.20 Td (and ) Tj ET Q q 0 0 0 rg BT 221.89 316.20 Td (increase ) Tj ET Q q 0 0 0 rg BT 249.62 316.20 Td (advertising ) Tj ET Q q 0 0 0 rg BT 286.69 316.20 Td (sales ) Tj ET Q q 0 0 0 rg BT 303.77 316.20 Td (could ) Tj ET Q q 0 0 0 rg BT 323.07 316.20 Td (have ) Tj ET Q q 0 0 0 rg BT 339.70 316.20 Td (a ) Tj ET Q q 0 0 0 rg BT 344.78 316.20 Td (material ) Tj ET Q q 0 0 0 rg BT 372.51 316.20 Td (adverse ) Tj ET Q q 0 0 0 rg BT 398.46 316.20 Td (ef) Tj ET Q q 0 0 0 rg BT 404.54 316.20 Td (fect ) Tj ET Q q 0 0 0 rg BT 418.05 316.20 Td (on ) Tj ET Q q 0 0 0 rg BT 427.58 316.20 Td (our ) Tj ET Q q 0 0 0 rg BT 439.77 316.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 469.28 316.20 Td (position, ) Tj ET Q q 0 0 0 rg BT 498.58 316.20 Td (results ) Tj ET Q q 0 0 0 rg BT 521.00 316.20 Td (of ) Tj ET Q q 0 0 0 rg BT 529.19 316.20 Td (operations ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 306.60 Td (and ) Tj ET Q q 0 0 0 rg BT 63.05 306.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 79.27 306.60 Td (flows.) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 291.00 Td (Global ) Tj ET Q q 0 0 0 rg BT 73.84 291.00 Td (or ) Tj ET Q q 0 0 0 rg BT 83.07 291.00 Td (regional ) Tj ET Q q 0 0 0 rg BT 112.75 291.00 Td (economic ) Tj ET Q q 0 0 0 rg BT 146.41 291.00 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 184.76 291.00 Td (the ) Tj ET Q q 0 0 0 rg BT 197.10 291.00 Td (credit ) Tj ET Q q 0 0 0 rg BT 217.88 291.00 Td (crisis ) Tj ET Q q 0 0 0 rg BT 237.33 291.00 Td (and ) Tj ET Q q 0 0 0 rg BT 251.89 291.00 Td (concerns ) Tj ET Q q 0 0 0 rg BT 283.79 291.00 Td (regarding ) Tj ET Q q 0 0 0 rg BT 318.36 291.00 Td (the ) Tj ET Q q 0 0 0 rg BT 330.70 291.00 Td (Eurozone ) Tj ET Q q 0 0 0 rg BT 364.82 291.00 Td (have ) Tj ET Q q 0 0 0 rg BT 382.49 291.00 Td (adversely ) Tj ET Q q 0 0 0 rg BT 415.26 291.00 Td (af) Tj ET Q q 0 0 0 rg BT 421.78 291.00 Td (fected ) Tj ET Q q 0 0 0 rg BT 443.44 291.00 Td (our ) Tj ET Q q 0 0 0 rg BT 457.12 291.00 Td (financial ) Tj ET Q q 0 0 0 rg BT 489.02 291.00 Td (position ) Tj ET Q q 0 0 0 rg BT 517.36 291.00 Td (and ) Tj ET Q q 0 0 0 rg BT 531.93 291.00 Td (results ) Tj ET Q q 0 0 0 rg BT 555.83 291.00 Td (of ) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 281.40 Td (operations. ) Tj ET Q q 0 0 0 rg BT 88.02 281.40 Td (W) Tj ET Q q 0 0 0 rg BT 94.54 281.40 Td (e ) Tj ET Q q 0 0 0 rg BT 100.08 281.40 Td (cannot ) Tj ET Q q 0 0 0 rg BT 124.75 281.40 Td (predict ) Tj ET Q q 0 0 0 rg BT 149.40 281.40 Td (if ) Tj ET Q q 0 0 0 rg BT 156.28 281.40 Td (or ) Tj ET Q q 0 0 0 rg BT 165.38 281.40 Td (when ) Tj ET Q q 0 0 0 rg BT 185.16 281.40 Td (economic ) Tj ET Q q 0 0 0 rg BT 218.70 281.40 Td (conditions ) Tj ET Q q 0 0 0 rg BT 254.92 281.40 Td (in ) Tj ET Q q 0 0 0 rg BT 263.59 281.40 Td (the ) Tj ET Q q 0 0 0 rg BT 275.80 281.40 Td (countries ) Tj ET Q q 0 0 0 rg BT 308.47 281.40 Td (in ) Tj ET Q q 0 0 0 rg BT 317.13 281.40 Td (which ) Tj ET Q q 0 0 0 rg BT 339.13 281.40 Td (we ) Tj ET Q q 0 0 0 rg BT 350.01 281.40 Td (operate ) Tj ET Q q 0 0 0 rg BT 376.44 281.40 Td (will ) Tj ET Q q 0 0 0 rg BT 390.43 281.40 Td (recover ) Tj ET Q q 0 0 0 rg BT 416.86 281.40 Td (or ) Tj ET Q q 0 0 0 rg BT 425.96 281.40 Td (how ) Tj ET Q q 0 0 0 rg BT 441.74 281.40 Td (long ) Tj ET Q q 0 0 0 rg BT 458.40 281.40 Td (any ) Tj ET Q q 0 0 0 rg BT 472.40 281.40 Td (recovery ) Tj ET Q q 0 0 0 rg BT 502.37 281.40 Td (may ) Tj ET Q q 0 0 0 rg BT 518.13 281.40 Td (last. ) Tj ET Q q 0 0 0 rg BT 533.39 281.40 Td (A) Tj ET Q q 0 0 0 rg BT 538.28 281.40 Td ( ) Tj ET Q q 0 0 0 rg BT 540.27 281.40 Td (failure ) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 271.80 Td (to ) Tj ET Q q 0 0 0 rg BT 57.72 271.80 Td (achieve ) Tj ET Q q 0 0 0 rg BT 84.60 271.80 Td (lasting ) Tj ET Q q 0 0 0 rg BT 108.83 271.80 Td (recoveries ) Tj ET Q q 0 0 0 rg BT 144.14 271.80 Td (will ) Tj ET Q q 0 0 0 rg BT 158.15 271.80 Td (continue ) Tj ET Q q 0 0 0 rg BT 189.04 271.80 Td (to ) Tj ET Q q 0 0 0 rg BT 197.27 271.80 Td (adversely ) Tj ET Q q 0 0 0 rg BT 229.92 271.80 Td (af) Tj ET Q q 0 0 0 rg BT 236.44 271.80 Td (fect ) Tj ET Q q 0 0 0 rg BT 250.43 271.80 Td (our ) Tj ET Q q 0 0 0 rg BT 263.99 271.80 Td (results ) Tj ET Q q 0 0 0 rg BT 287.77 271.80 Td (of ) Tj ET Q q 0 0 0 rg BT 296.44 271.80 Td (operations.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 256.20 Td (The ) Tj ET Q q 0 0 0 rg BT 64.32 256.20 Td (results ) Tj ET Q q 0 0 0 rg BT 87.60 256.20 Td (of ) Tj ET Q q 0 0 0 rg BT 96.65 256.20 Td (our ) Tj ET Q q 0 0 0 rg BT 109.70 256.20 Td (operations ) Tj ET Q q 0 0 0 rg BT 145.41 256.20 Td (depend ) Tj ET Q q 0 0 0 rg BT 170.89 256.20 Td (heavily ) Tj ET Q q 0 0 0 rg BT 196.83 256.20 Td (on ) Tj ET Q q 0 0 0 rg BT 207.21 256.20 Td (advertising ) Tj ET Q q 0 0 0 rg BT 245.14 256.20 Td (revenue, ) Tj ET Q q 0 0 0 rg BT 274.85 256.20 Td (and ) Tj ET Q q 0 0 0 rg BT 288.78 256.20 Td (demand ) Tj ET Q q 0 0 0 rg BT 316.49 256.20 Td (for ) Tj ET Q q 0 0 0 rg BT 328.21 256.20 Td (advertising ) Tj ET Q q 0 0 0 rg BT 366.14 256.20 Td (is ) Tj ET Q q 0 0 0 rg BT 373.86 256.20 Td (af) Tj ET Q q 0 0 0 rg BT 379.93 256.20 Td (fected ) Tj ET Q q 0 0 0 rg BT 401.86 256.20 Td (by ) Tj ET Q q 0 0 0 rg BT 412.24 256.20 Td (general ) Tj ET Q q 0 0 0 rg BT 438.17 256.20 Td (economic ) Tj ET Q q 0 0 0 rg BT 471.65 256.20 Td (conditions ) Tj ET Q q 0 0 0 rg BT 507.37 256.20 Td (in ) Tj ET Q q 0 0 0 rg BT 515.98 256.20 Td (the ) Tj ET Q q 0 0 0 rg BT 528.13 256.20 Td (region ) Tj ET Q q 0 0 0 rg BT 550.96 256.20 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 246.60 Td (globally) Tj ET Q q 0 0 0 rg BT 75.20 246.60 Td (. ) Tj ET Q q 0 0 0 rg BT 78.77 246.60 Td (The ) Tj ET Q q 0 0 0 rg BT 92.91 246.60 Td (economic ) Tj ET Q q 0 0 0 rg BT 125.71 246.60 Td (uncertainty ) Tj ET Q q 0 0 0 rg BT 163.39 246.60 Td (af) Tj ET Q q 0 0 0 rg BT 169.46 246.60 Td (fecting ) Tj ET Q q 0 0 0 rg BT 193.37 246.60 Td (the ) Tj ET Q q 0 0 0 rg BT 204.84 246.60 Td (global ) Tj ET Q q 0 0 0 rg BT 226.53 246.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 256.22 246.60 Td (markets ) Tj ET Q q 0 0 0 rg BT 283.24 246.60 Td (and ) Tj ET Q q 0 0 0 rg BT 296.49 246.60 Td (banking ) Tj ET Q q 0 0 0 rg BT 323.96 246.60 Td (system ) Tj ET Q q 0 0 0 rg BT 347.88 246.60 Td (since ) Tj ET Q q 0 0 0 rg BT 366.02 246.60 Td (the ) Tj ET Q q 0 0 0 rg BT 377.49 246.60 Td (beginning ) Tj ET Q q 0 0 0 rg BT 411.18 246.60 Td (of ) Tj ET Q q 0 0 0 rg BT 419.55 246.60 Td (2009 ) Tj ET Q q 0 0 0 rg BT 437.24 246.60 Td (has ) Tj ET Q q 0 0 0 rg BT 449.61 246.60 Td (had ) Tj ET Q q 0 0 0 rg BT 462.85 246.60 Td (an ) Tj ET Q q 0 0 0 rg BT 472.10 246.60 Td (adverse ) Tj ET Q q 0 0 0 rg BT 498.23 246.60 Td (impact ) Tj ET Q q 0 0 0 rg BT 521.70 246.60 Td (on ) Tj ET Q q 0 0 0 rg BT 531.40 246.60 Td (economic ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 237.00 Td (growth ) Tj ET Q q 0 0 0 rg BT 74.83 237.00 Td (in ) Tj ET Q q 0 0 0 rg BT 83.72 237.00 Td (our ) Tj ET Q q 0 0 0 rg BT 97.05 237.00 Td (operating ) Tj ET Q q 0 0 0 rg BT 129.93 237.00 Td (countries ) Tj ET Q q 0 0 0 rg BT 161.92 237.00 Td (across ) Tj ET Q q 0 0 0 rg BT 184.58 237.00 Td (Central ) Tj ET Q q 0 0 0 rg BT 210.79 237.00 Td (and ) Tj ET Q q 0 0 0 rg BT 225.01 237.00 Td (Eastern ) Tj ET Q q 0 0 0 rg BT 251.67 237.00 Td (Europe, ) Tj ET Q q 0 0 0 rg BT 279.44 237.00 Td (one ) Tj ET Q q 0 0 0 rg BT 293.65 237.00 Td (of ) Tj ET Q q 0 0 0 rg BT 302.98 237.00 Td (which, ) Tj ET Q q 0 0 0 rg BT 327.20 237.00 Td (Croatia, ) Tj ET Q q 0 0 0 rg BT 355.42 237.00 Td (is ) Tj ET Q q 0 0 0 rg BT 363.42 237.00 Td (still ) Tj ET Q q 0 0 0 rg BT 378.09 237.00 Td (contending ) Tj ET Q q 0 0 0 rg BT 416.30 237.00 Td (with ) Tj ET Q q 0 0 0 rg BT 433.19 237.00 Td (recession. ) Tj ET Q q 0 0 0 rg BT 467.43 237.00 Td (There ) Tj ET Q q 0 0 0 rg BT 488.75 237.00 Td (has ) Tj ET Q q 0 0 0 rg BT 502.08 237.00 Td (been ) Tj ET Q q 0 0 0 rg BT 519.85 237.00 Td (a ) Tj ET Q q 0 0 0 rg BT 526.07 237.00 Td (widespread ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 227.40 Td (withdrawal ) Tj ET Q q 0 0 0 rg BT 87.19 227.40 Td (of ) Tj ET Q q 0 0 0 rg BT 95.55 227.40 Td (investment ) Tj ET Q q 0 0 0 rg BT 132.36 227.40 Td (funding ) Tj ET Q q 0 0 0 rg BT 158.95 227.40 Td (from ) Tj ET Q q 0 0 0 rg BT 176.20 227.40 Td (the ) Tj ET Q q 0 0 0 rg BT 187.68 227.40 Td (Central ) Tj ET Q q 0 0 0 rg BT 212.92 227.40 Td (and ) Tj ET Q q 0 0 0 rg BT 226.18 227.40 Td (Eastern ) Tj ET Q q 0 0 0 rg BT 251.87 227.40 Td (European ) Tj ET Q q 0 0 0 rg BT 284.22 227.40 Td (markets ) Tj ET Q q 0 0 0 rg BT 311.24 227.40 Td (and ) Tj ET Q q 0 0 0 rg BT 324.50 227.40 Td (companies ) Tj ET Q q 0 0 0 rg BT 360.41 227.40 Td (with ) Tj ET Q q 0 0 0 rg BT 376.33 227.40 Td (investments ) Tj ET Q q 0 0 0 rg BT 416.25 227.40 Td (in ) Tj ET Q q 0 0 0 rg BT 424.18 227.40 Td (them. ) Tj ET Q q 0 0 0 rg BT 443.87 227.40 Td (Furthermore, ) Tj ET Q q 0 0 0 rg BT 487.56 227.40 Td (the ) Tj ET Q q 0 0 0 rg BT 499.04 227.40 Td (economic ) Tj ET Q q 0 0 0 rg BT 531.84 227.40 Td (downturn ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 217.80 Td (has ) Tj ET Q q 0 0 0 rg BT 62.83 217.80 Td (adversely ) Tj ET Q q 0 0 0 rg BT 96.15 217.80 Td (af) Tj ET Q q 0 0 0 rg BT 102.22 217.80 Td (fected ) Tj ET Q q 0 0 0 rg BT 124.43 217.80 Td (consumer ) Tj ET Q q 0 0 0 rg BT 158.20 217.80 Td (and ) Tj ET Q q 0 0 0 rg BT 172.41 217.80 Td (business ) Tj ET Q q 0 0 0 rg BT 202.19 217.80 Td (spending, ) Tj ET Q q 0 0 0 rg BT 235.75 217.80 Td (access ) Tj ET Q q 0 0 0 rg BT 258.84 217.80 Td (to ) Tj ET Q q 0 0 0 rg BT 267.73 217.80 Td (credit, ) Tj ET Q q 0 0 0 rg BT 290.61 217.80 Td (liquidity) Tj ET Q q 0 0 0 rg BT 317.21 217.80 Td (, ) Tj ET Q q 0 0 0 rg BT 321.87 217.80 Td (investments, ) Tj ET Q q 0 0 0 rg BT 364.76 217.80 Td (asset ) Tj ET Q q 0 0 0 rg BT 382.98 217.80 Td (values ) Tj ET Q q 0 0 0 rg BT 406.08 217.80 Td (and ) Tj ET Q q 0 0 0 rg BT 420.30 217.80 Td (employment ) Tj ET Q q 0 0 0 rg BT 462.96 217.80 Td (rates. ) Tj ET Q q 0 0 0 rg BT 482.53 217.80 Td (These ) Tj ET Q q 0 0 0 rg BT 504.30 217.80 Td (adverse ) Tj ET Q q 0 0 0 rg BT 531.40 217.80 Td (economic ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 208.20 Td (conditions ) Tj ET Q q 0 0 0 rg BT 84.74 208.20 Td (have ) Tj ET Q q 0 0 0 rg BT 101.74 208.20 Td (had ) Tj ET Q q 0 0 0 rg BT 115.19 208.20 Td (a ) Tj ET Q q 0 0 0 rg BT 120.65 208.20 Td (material ) Tj ET Q q 0 0 0 rg BT 148.76 208.20 Td (negative ) Tj ET Q q 0 0 0 rg BT 177.76 208.20 Td (impact ) Tj ET Q q 0 0 0 rg BT 201.43 208.20 Td (on ) Tj ET Q q 0 0 0 rg BT 211.34 208.20 Td (the ) Tj ET Q q 0 0 0 rg BT 223.01 208.20 Td (advertising ) Tj ET Q q 0 0 0 rg BT 260.46 208.20 Td (spending ) Tj ET Q q 0 0 0 rg BT 291.25 208.20 Td (in ) Tj ET Q q 0 0 0 rg BT 299.38 208.20 Td (our ) Tj ET Q q 0 0 0 rg BT 311.95 208.20 Td (markets, ) Tj ET Q q 0 0 0 rg BT 341.17 208.20 Td (leading ) Tj ET Q q 0 0 0 rg BT 366.62 208.20 Td (our ) Tj ET Q q 0 0 0 rg BT 379.19 208.20 Td (customers ) Tj ET Q q 0 0 0 rg BT 413.53 208.20 Td (to ) Tj ET Q q 0 0 0 rg BT 421.66 208.20 Td (continue ) Tj ET Q q 0 0 0 rg BT 451.11 208.20 Td (to ) Tj ET Q q 0 0 0 rg BT 459.23 208.20 Td (spend ) Tj ET Q q 0 0 0 rg BT 479.80 208.20 Td (less ) Tj ET Q q 0 0 0 rg BT 493.71 208.20 Td (on ) Tj ET Q q 0 0 0 rg BT 503.61 208.20 Td (advertising ) Tj ET Q q 0 0 0 rg BT 541.06 208.20 Td (than ) Tj ET Q q 0 0 0 rg BT 556.74 208.20 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 198.60 Td (the ) Tj ET Q q 0 0 0 rg BT 61.06 198.60 Td (peak ) Tj ET Q q 0 0 0 rg BT 77.94 198.60 Td (period ) Tj ET Q q 0 0 0 rg BT 100.16 198.60 Td (in ) Tj ET Q q 0 0 0 rg BT 108.17 198.60 Td (2008. ) Tj ET Q q 0 0 0 rg BT 127.82 198.60 Td (This ) Tj ET Q q 0 0 0 rg BT 143.83 198.60 Td (has ) Tj ET Q q 0 0 0 rg BT 156.28 198.60 Td (negatively ) Tj ET Q q 0 0 0 rg BT 191.38 198.60 Td (impacted ) Tj ET Q q 0 0 0 rg BT 222.48 198.60 Td (our ) Tj ET Q q 0 0 0 rg BT 234.93 198.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 264.70 198.60 Td (position, ) Tj ET Q q 0 0 0 rg BT 294.26 198.60 Td (results ) Tj ET Q q 0 0 0 rg BT 316.93 198.60 Td (of ) Tj ET Q q 0 0 0 rg BT 325.38 198.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 360.49 198.60 Td (and ) Tj ET Q q 0 0 0 rg BT 373.82 198.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 389.82 198.60 Td (flows ) Tj ET Q q 0 0 0 rg BT 409.38 198.60 Td (since ) Tj ET Q q 0 0 0 rg BT 427.60 198.60 Td (2008. ) Tj ET Q q 0 0 0 rg BT 447.25 198.60 Td (While ) Tj ET Q q 0 0 0 rg BT 468.58 198.60 Td (real ) Tj ET Q q 0 0 0 rg BT 482.36 198.60 Td (GDP) Tj ET Q q 0 0 0 rg BT 498.06 198.60 Td ( ) Tj ET Q q 0 0 0 rg BT 499.85 198.60 Td (is ) Tj ET Q q 0 0 0 rg BT 506.96 198.60 Td (estimated ) Tj ET Q q 0 0 0 rg BT 539.40 198.60 Td (to ) Tj ET Q q 0 0 0 rg BT 547.41 198.60 Td (have ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 189.00 Td (improved ) Tj ET Q q 0 0 0 rg BT 82.16 189.00 Td (in ) Tj ET Q q 0 0 0 rg BT 90.38 189.00 Td (our ) Tj ET Q q 0 0 0 rg BT 103.05 189.00 Td (markets ) Tj ET Q q 0 0 0 rg BT 130.37 189.00 Td (in ) Tj ET Q q 0 0 0 rg BT 138.59 189.00 Td (2014, ) Tj ET Q q 0 0 0 rg BT 158.59 189.00 Td (we ) Tj ET Q q 0 0 0 rg BT 169.92 189.00 Td (cannot ) Tj ET Q q 0 0 0 rg BT 193.25 189.00 Td (predict ) Tj ET Q q 0 0 0 rg BT 217.46 189.00 Td (if ) Tj ET Q q 0 0 0 rg BT 224.34 189.00 Td (this ) Tj ET Q q 0 0 0 rg BT 237.90 189.00 Td (represents ) Tj ET Q q 0 0 0 rg BT 272.33 189.00 Td (the ) Tj ET Q q 0 0 0 rg BT 284.11 189.00 Td (start ) Tj ET Q q 0 0 0 rg BT 299.88 189.00 Td (of ) Tj ET Q q 0 0 0 rg BT 308.54 189.00 Td (a ) Tj ET Q q 0 0 0 rg BT 314.09 189.00 Td (recovery ) Tj ET Q q 0 0 0 rg BT 344.07 189.00 Td (or ) Tj ET Q q 0 0 0 rg BT 352.74 189.00 Td (how ) Tj ET Q q 0 0 0 rg BT 368.52 189.00 Td (long ) Tj ET Q q 0 0 0 rg BT 384.74 189.00 Td (it ) Tj ET Q q 0 0 0 rg BT 391.18 189.00 Td (will ) Tj ET Q q 0 0 0 rg BT 405.63 189.00 Td (last. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 173.40 Td (During ) Tj ET Q q 0 0 0 rg BT 73.83 173.40 Td (2014, ) Tj ET Q q 0 0 0 rg BT 93.49 173.40 Td (countries ) Tj ET Q q 0 0 0 rg BT 124.47 173.40 Td (in ) Tj ET Q q 0 0 0 rg BT 132.36 173.40 Td (the ) Tj ET Q q 0 0 0 rg BT 143.79 173.40 Td (European ) Tj ET Q q 0 0 0 rg BT 176.11 173.40 Td (Union ) Tj ET Q q 0 0 0 rg BT 197.77 173.40 Td (and ) Tj ET Q q 0 0 0 rg BT 210.98 173.40 Td (around ) Tj ET Q q 0 0 0 rg BT 234.86 173.40 Td (the ) Tj ET Q q 0 0 0 rg BT 246.30 173.40 Td (world ) Tj ET Q q 0 0 0 rg BT 266.62 173.40 Td (authorized ) Tj ET Q q 0 0 0 rg BT 302.05 173.40 Td (economic ) Tj ET Q q 0 0 0 rg BT 334.81 173.40 Td (sanctions ) Tj ET Q q 0 0 0 rg BT 366.24 173.40 Td (against ) Tj ET Q q 0 0 0 rg BT 390.56 173.40 Td (individuals ) Tj ET Q q 0 0 0 rg BT 427.78 173.40 Td (and ) Tj ET Q q 0 0 0 rg BT 440.99 173.40 Td (entities ) Tj ET Q q 0 0 0 rg BT 465.76 173.40 Td (in ) Tj ET Q q 0 0 0 rg BT 473.65 173.40 Td (Russia ) Tj ET Q q 0 0 0 rg BT 496.64 173.40 Td (in ) Tj ET Q q 0 0 0 rg BT 504.53 173.40 Td (response ) Tj ET Q q 0 0 0 rg BT 534.18 173.40 Td (to ) Tj ET Q q 0 0 0 rg BT 542.07 173.40 Td (events ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 163.80 Td (that ) Tj ET Q q 0 0 0 rg BT 64.07 163.80 Td (transpired ) Tj ET Q q 0 0 0 rg BT 98.63 163.80 Td (in ) Tj ET Q q 0 0 0 rg BT 107.43 163.80 Td (Ukraine. ) Tj ET Q q 0 0 0 rg BT 137.77 163.80 Td (If ) Tj ET Q q 0 0 0 rg BT 145.68 163.80 Td (these ) Tj ET Q q 0 0 0 rg BT 164.69 163.80 Td (sanctions ) Tj ET Q q 0 0 0 rg BT 197.04 163.80 Td (result ) Tj ET Q q 0 0 0 rg BT 217.39 163.80 Td (in ) Tj ET Q q 0 0 0 rg BT 226.18 163.80 Td (a ) Tj ET Q q 0 0 0 rg BT 232.31 163.80 Td (negative ) Tj ET Q q 0 0 0 rg BT 261.98 163.80 Td (impact ) Tj ET Q q 0 0 0 rg BT 286.33 163.80 Td (on ) Tj ET Q q 0 0 0 rg BT 296.90 163.80 Td (the ) Tj ET Q q 0 0 0 rg BT 309.25 163.80 Td (economies ) Tj ET Q q 0 0 0 rg BT 346.04 163.80 Td (of ) Tj ET Q q 0 0 0 rg BT 355.28 163.80 Td (the ) Tj ET Q q 0 0 0 rg BT 367.63 163.80 Td (European ) Tj ET Q q 0 0 0 rg BT 400.85 163.80 Td (Union, ) Tj ET Q q 0 0 0 rg BT 425.43 163.80 Td (the ) Tj ET Q q 0 0 0 rg BT 437.78 163.80 Td (countries ) Tj ET Q q 0 0 0 rg BT 469.68 163.80 Td (in ) Tj ET Q q 0 0 0 rg BT 478.47 163.80 Td (which ) Tj ET Q q 0 0 0 rg BT 500.60 163.80 Td (we ) Tj ET Q q 0 0 0 rg BT 512.50 163.80 Td (operate ) Tj ET Q q 0 0 0 rg BT 538.62 163.80 Td (may ) Tj ET Q q 0 0 0 rg BT 554.97 163.80 Td (be ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 154.20 Td (significantly ) Tj ET Q q 0 0 0 rg BT 91.24 154.20 Td (impacted ) Tj ET Q q 0 0 0 rg BT 122.31 154.20 Td (given ) Tj ET Q q 0 0 0 rg BT 141.83 154.20 Td (the ) Tj ET Q q 0 0 0 rg BT 153.35 154.20 Td (export-oriented ) Tj ET Q q 0 0 0 rg BT 204.41 154.20 Td (nature ) Tj ET Q q 0 0 0 rg BT 226.15 154.20 Td (of ) Tj ET Q q 0 0 0 rg BT 234.56 154.20 Td (their ) Tj ET Q q 0 0 0 rg BT 250.97 154.20 Td (economies. ) Tj ET Q q 0 0 0 rg BT 288.93 154.20 Td (Continued ) Tj ET Q q 0 0 0 rg BT 324.01 154.20 Td (softness ) Tj ET Q q 0 0 0 rg BT 351.53 154.20 Td (in ) Tj ET Q q 0 0 0 rg BT 359.50 154.20 Td (the ) Tj ET Q q 0 0 0 rg BT 371.03 154.20 Td (Eurozone, ) Tj ET Q q 0 0 0 rg BT 405.43 154.20 Td (including ) Tj ET Q q 0 0 0 rg BT 437.39 154.20 Td (a ) Tj ET Q q 0 0 0 rg BT 442.69 154.20 Td (slow ) Tj ET Q q 0 0 0 rg BT 459.55 154.20 Td (down ) Tj ET Q q 0 0 0 rg BT 479.08 154.20 Td (in ) Tj ET Q q 0 0 0 rg BT 487.05 154.20 Td (the ) Tj ET Q q 0 0 0 rg BT 498.57 154.20 Td (growth ) Tj ET Q q 0 0 0 rg BT 522.98 154.20 Td (of ) Tj ET Q q 0 0 0 rg BT 531.39 154.20 Td (consumer ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 144.60 Td (prices, ) Tj ET Q q 0 0 0 rg BT 72.94 144.60 Td (has ) Tj ET Q q 0 0 0 rg BT 85.94 144.60 Td (prompted ) Tj ET Q q 0 0 0 rg BT 118.93 144.60 Td (the ) Tj ET Q q 0 0 0 rg BT 131.04 144.60 Td (European ) Tj ET Q q 0 0 0 rg BT 164.03 144.60 Td (Central ) Tj ET Q q 0 0 0 rg BT 189.91 144.60 Td (Bank ) Tj ET Q q 0 0 0 rg BT 209.14 144.60 Td (to ) Tj ET Q q 0 0 0 rg BT 217.70 144.60 Td (embark ) Tj ET Q q 0 0 0 rg BT 244.02 144.60 Td (upon ) Tj ET Q q 0 0 0 rg BT 262.36 144.60 Td (quantitative ) Tj ET Q q 0 0 0 rg BT 302.46 144.60 Td (easing. ) Tj ET Q q 0 0 0 rg BT 327.23 144.60 Td (Economic ) Tj ET Q q 0 0 0 rg BT 362.00 144.60 Td (events ) Tj ET Q q 0 0 0 rg BT 384.77 144.60 Td (related ) Tj ET Q q 0 0 0 rg BT 408.87 144.60 Td (to ) Tj ET Q q 0 0 0 rg BT 417.43 144.60 Td (the ) Tj ET Q q 0 0 0 rg BT 429.54 144.60 Td (sovereign ) Tj ET Q q 0 0 0 rg BT 462.98 144.60 Td (debt ) Tj ET Q q 0 0 0 rg BT 479.09 144.60 Td (crisis ) Tj ET Q q 0 0 0 rg BT 498.31 144.60 Td (in ) Tj ET Q q 0 0 0 rg BT 506.87 144.60 Td (several ) Tj ET Q q 0 0 0 rg BT 531.86 144.60 Td (European ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 135.00 Td (Union ) Tj ET Q q 0 0 0 rg BT 71.75 135.00 Td (countries ) Tj ET Q q 0 0 0 rg BT 103.32 135.00 Td (have ) Tj ET Q q 0 0 0 rg BT 120.68 135.00 Td (also ) Tj ET Q q 0 0 0 rg BT 135.81 135.00 Td (highlighted ) Tj ET Q q 0 0 0 rg BT 174.50 135.00 Td (issues ) Tj ET Q q 0 0 0 rg BT 195.87 135.00 Td (relating ) Tj ET Q q 0 0 0 rg BT 222.55 135.00 Td (to ) Tj ET Q q 0 0 0 rg BT 231.02 135.00 Td (the ) Tj ET Q q 0 0 0 rg BT 243.05 135.00 Td (strength ) Tj ET Q q 0 0 0 rg BT 271.07 135.00 Td (of ) Tj ET Q q 0 0 0 rg BT 279.98 135.00 Td (the ) Tj ET Q q 0 0 0 rg BT 292.01 135.00 Td (banking ) Tj ET Q q 0 0 0 rg BT 320.03 135.00 Td (sector ) Tj ET Q q 0 0 0 rg BT 341.38 135.00 Td (in ) Tj ET Q q 0 0 0 rg BT 349.86 135.00 Td (Europe. ) Tj ET Q q 0 0 0 rg BT 377.04 135.00 Td (Though ) Tj ET Q q 0 0 0 rg BT 404.18 135.00 Td (the ) Tj ET Q q 0 0 0 rg BT 416.20 135.00 Td (European ) Tj ET Q q 0 0 0 rg BT 449.11 135.00 Td (Union ) Tj ET Q q 0 0 0 rg BT 471.36 135.00 Td (has ) Tj ET Q q 0 0 0 rg BT 484.27 135.00 Td (created ) Tj ET Q q 0 0 0 rg BT 509.61 135.00 Td (external ) Tj ET Q q 0 0 0 rg BT 537.62 135.00 Td (funding ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 125.40 Td (and ) Tj ET Q q 0 0 0 rg BT 63.48 125.40 Td (stability ) Tj ET Q q 0 0 0 rg BT 91.68 125.40 Td (mechanisms ) Tj ET Q q 0 0 0 rg BT 133.65 125.40 Td (to ) Tj ET Q q 0 0 0 rg BT 142.30 125.40 Td (provide ) Tj ET Q q 0 0 0 rg BT 169.16 125.40 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 198.70 125.40 Td (and ) Tj ET Q q 0 0 0 rg BT 212.68 125.40 Td (financial ) Tj ET Q q 0 0 0 rg BT 243.09 125.40 Td (assistance ) Tj ET Q q 0 0 0 rg BT 277.50 125.40 Td (to ) Tj ET Q q 0 0 0 rg BT 286.15 125.40 Td (Eurozone ) Tj ET Q q 0 0 0 rg BT 319.23 125.40 Td (member ) Tj ET Q q 0 0 0 rg BT 347.87 125.40 Td (states ) Tj ET Q q 0 0 0 rg BT 368.07 125.40 Td (and ) Tj ET Q q 0 0 0 rg BT 382.04 125.40 Td (financial ) Tj ET Q q 0 0 0 rg BT 412.45 125.40 Td (institutions, ) Tj ET Q q 0 0 0 rg BT 452.44 125.40 Td (there ) Tj ET Q q 0 0 0 rg BT 470.86 125.40 Td (can ) Tj ET Q q 0 0 0 rg BT 484.38 125.40 Td (be ) Tj ET Q q 0 0 0 rg BT 494.36 125.40 Td (no ) Tj ET Q q 0 0 0 rg BT 504.79 125.40 Td (assurance ) Tj ET Q q 0 0 0 rg BT 538.30 125.40 Td (that ) Tj ET Q q 0 0 0 rg BT 552.73 125.40 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 115.80 Td (market ) Tj ET Q q 0 0 0 rg BT 74.37 115.80 Td (disruptions ) Tj ET Q q 0 0 0 rg BT 112.60 115.80 Td (in ) Tj ET Q q 0 0 0 rg BT 121.48 115.80 Td (Europe ) Tj ET Q q 0 0 0 rg BT 147.25 115.80 Td (related ) Tj ET Q q 0 0 0 rg BT 171.67 115.80 Td (to ) Tj ET Q q 0 0 0 rg BT 180.56 115.80 Td (sovereign ) Tj ET Q q 0 0 0 rg BT 214.32 115.80 Td (debt ) Tj ET Q q 0 0 0 rg BT 230.76 115.80 Td (and ) Tj ET Q q 0 0 0 rg BT 244.97 115.80 Td (the ) Tj ET Q q 0 0 0 rg BT 257.41 115.80 Td (banking ) Tj ET Q q 0 0 0 rg BT 285.84 115.80 Td (sector) Tj ET Q q 0 0 0 rg BT 304.63 115.80 Td (, ) Tj ET Q q 0 0 0 rg BT 309.29 115.80 Td (including ) Tj ET Q q 0 0 0 rg BT 342.17 115.80 Td (the ) Tj ET Q q 0 0 0 rg BT 354.61 115.80 Td (increased ) Tj ET Q q 0 0 0 rg BT 387.47 115.80 Td (cost ) Tj ET Q q 0 0 0 rg BT 403.02 115.80 Td (of ) Tj ET Q q 0 0 0 rg BT 412.35 115.80 Td (funding ) Tj ET Q q 0 0 0 rg BT 439.90 115.80 Td (for ) Tj ET Q q 0 0 0 rg BT 451.89 115.80 Td (certain ) Tj ET Q q 0 0 0 rg BT 476.32 115.80 Td (governments ) Tj ET Q q 0 0 0 rg BT 520.30 115.80 Td (and ) Tj ET Q q 0 0 0 rg BT 534.52 115.80 Td (financial ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 106.20 Td (institutions, ) Tj ET Q q 0 0 0 rg BT 89.15 106.20 Td (will ) Tj ET Q q 0 0 0 rg BT 103.69 106.20 Td (not ) Tj ET Q q 0 0 0 rg BT 116.01 106.20 Td (continue, ) Tj ET Q q 0 0 0 rg BT 147.64 106.20 Td (nor ) Tj ET Q q 0 0 0 rg BT 160.40 106.20 Td (can ) Tj ET Q q 0 0 0 rg BT 173.59 106.20 Td (there ) Tj ET Q q 0 0 0 rg BT 191.67 106.20 Td (be ) Tj ET Q q 0 0 0 rg BT 201.32 106.20 Td (any ) Tj ET Q q 0 0 0 rg BT 214.96 106.20 Td (assurance ) Tj ET Q q 0 0 0 rg BT 248.14 106.20 Td (that ) Tj ET Q q 0 0 0 rg BT 262.23 106.20 Td (future ) Tj ET Q q 0 0 0 rg BT 283.43 106.20 Td (assistance ) Tj ET Q q 0 0 0 rg BT 317.51 106.20 Td (packages ) Tj ET Q q 0 0 0 rg BT 348.91 106.20 Td (will ) Tj ET Q q 0 0 0 rg BT 363.45 106.20 Td (be ) Tj ET Q q 0 0 0 rg BT 373.09 106.20 Td (available ) Tj ET Q q 0 0 0 rg BT 404.06 106.20 Td (or) Tj ET Q q 0 0 0 rg BT 410.40 106.20 Td (, ) Tj ET Q q 0 0 0 rg BT 414.49 106.20 Td (even ) Tj ET Q q 0 0 0 rg BT 431.69 106.20 Td (if ) Tj ET Q q 0 0 0 rg BT 438.66 106.20 Td (provided, ) Tj ET Q q 0 0 0 rg BT 471.19 106.20 Td (will ) Tj ET Q q 0 0 0 rg BT 485.73 106.20 Td (be ) Tj ET Q q 0 0 0 rg BT 495.37 106.20 Td (suf) Tj ET Q q 0 0 0 rg BT 505.01 106.20 Td (ficient ) Tj ET Q q 0 0 0 rg BT 527.53 106.20 Td (to ) Tj ET Q q 0 0 0 rg BT 535.85 106.20 Td (stabilize ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 96.60 Td (af) Tj ET Q q 0 0 0 rg BT 55.57 96.60 Td (fected ) Tj ET Q q 0 0 0 rg BT 76.83 96.60 Td (banks, ) Tj ET Q q 0 0 0 rg BT 99.21 96.60 Td (countries ) Tj ET Q q 0 0 0 rg BT 130.25 96.60 Td (and ) Tj ET Q q 0 0 0 rg BT 143.52 96.60 Td (markets ) Tj ET Q q 0 0 0 rg BT 170.56 96.60 Td (in ) Tj ET Q q 0 0 0 rg BT 178.50 96.60 Td (Europe ) Tj ET Q q 0 0 0 rg BT 203.31 96.60 Td (or ) Tj ET Q q 0 0 0 rg BT 211.70 96.60 Td (elsewhere. ) Tj ET Q q 0 0 0 rg BT 247.39 96.60 Td (Furthermore, ) Tj ET Q q 0 0 0 rg BT 291.10 96.60 Td (the ) Tj ET Q q 0 0 0 rg BT 302.59 96.60 Td (departure ) Tj ET Q q 0 0 0 rg BT 334.51 96.60 Td (of ) Tj ET Q q 0 0 0 rg BT 342.89 96.60 Td (a ) Tj ET Q q 0 0 0 rg BT 348.16 96.60 Td (country ) Tj ET Q q 0 0 0 rg BT 374.31 96.60 Td (from ) Tj ET Q q 0 0 0 rg BT 391.58 96.60 Td (the ) Tj ET Q q 0 0 0 rg BT 403.07 96.60 Td (Euro ) Tj ET Q q 0 0 0 rg BT 420.34 96.60 Td (or ) Tj ET Q q 0 0 0 rg BT 428.72 96.60 Td (the ) Tj ET Q q 0 0 0 rg BT 440.21 96.60 Td (dissolution ) Tj ET Q q 0 0 0 rg BT 477.04 96.60 Td (of ) Tj ET Q q 0 0 0 rg BT 485.42 96.60 Td (the ) Tj ET Q q 0 0 0 rg BT 496.91 96.60 Td (Euro ) Tj ET Q q 0 0 0 rg BT 514.18 96.60 Td (by ) Tj ET Q q 0 0 0 rg BT 523.90 96.60 Td (its ) Tj ET Q q 0 0 0 rg BT 533.17 96.60 Td (members ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 87.00 Td (could ) Tj ET Q q 0 0 0 rg BT 69.31 87.00 Td (negatively ) Tj ET Q q 0 0 0 rg BT 104.68 87.00 Td (impact ) Tj ET Q q 0 0 0 rg BT 128.49 87.00 Td (our ) Tj ET Q q 0 0 0 rg BT 141.19 87.00 Td (business ) Tj ET Q q 0 0 0 rg BT 170.35 87.00 Td (as ) Tj ET Q q 0 0 0 rg BT 179.05 87.00 Td (well ) Tj ET Q q 0 0 0 rg BT 194.87 87.00 Td (as ) Tj ET Q q 0 0 0 rg BT 203.57 87.00 Td (cause ) Tj ET Q q 0 0 0 rg BT 223.38 87.00 Td (significant ) Tj ET Q q 0 0 0 rg BT 259.19 87.00 Td (volatility ) Tj ET Q q 0 0 0 rg BT 290.12 87.00 Td (and ) Tj ET Q q 0 0 0 rg BT 303.71 87.00 Td (disruption ) Tj ET Q q 0 0 0 rg BT 338.19 87.00 Td (in ) Tj ET Q q 0 0 0 rg BT 346.46 87.00 Td (the ) Tj ET Q q 0 0 0 rg BT 358.27 87.00 Td (global ) Tj ET Q q 0 0 0 rg BT 380.31 87.00 Td (economy) Tj ET Q q 0 0 0 rg BT 409.11 87.00 Td (. ) Tj ET Q q 0 0 0 rg BT 413.15 87.00 Td (In ) Tj ET Q q 0 0 0 rg BT 421.86 87.00 Td (addition, ) Tj ET Q q 0 0 0 rg BT 452.12 87.00 Td (the ) Tj ET Q q 0 0 0 rg BT 463.93 87.00 Td (occurrence ) Tj ET Q q 0 0 0 rg BT 501.06 87.00 Td (of ) Tj ET Q q 0 0 0 rg BT 509.76 87.00 Td (disasters, ) Tj ET Q q 0 0 0 rg BT 541.35 87.00 Td (acts ) Tj ET Q q 0 0 0 rg BT 555.83 87.00 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 77.40 Td (terrorism, ) Tj ET Q q 0 0 0 rg BT 82.53 77.40 Td (civil ) Tj ET Q q 0 0 0 rg BT 98.45 77.40 Td (or ) Tj ET Q q 0 0 0 rg BT 106.82 77.40 Td (military ) Tj ET Q q 0 0 0 rg BT 133.85 77.40 Td (conflicts ) Tj ET Q q 0 0 0 rg BT 163.10 77.40 Td (or ) Tj ET Q q 0 0 0 rg BT 171.47 77.40 Td (general ) Tj ET Q q 0 0 0 rg BT 196.71 77.40 Td (political ) Tj ET Q q 0 0 0 rg BT 224.63 77.40 Td (instability ) Tj ET Q q 0 0 0 rg BT 258.34 77.40 Td (and ) Tj ET Q q 0 0 0 rg BT 271.59 77.40 Td (responses ) Tj ET Q q 0 0 0 rg BT 304.40 77.40 Td (to ) Tj ET Q q 0 0 0 rg BT 312.33 77.40 Td (it, ) Tj ET Q q 0 0 0 rg BT 320.48 77.40 Td (such ) Tj ET Q q 0 0 0 rg BT 336.85 77.40 Td (as ) Tj ET Q q 0 0 0 rg BT 345.21 77.40 Td (the ) Tj ET Q q 0 0 0 rg BT 356.69 77.40 Td (imposition ) Tj ET Q q 0 0 0 rg BT 392.62 77.40 Td (of ) Tj ET Q q 0 0 0 rg BT 400.99 77.40 Td (economic ) Tj ET Q q 0 0 0 rg BT 433.79 77.40 Td (sanctions ) Tj ET Q q 0 0 0 rg BT 465.27 77.40 Td (against ) Tj ET Q q 0 0 0 rg BT 489.63 77.40 Td (Russia, ) Tj ET Q q 0 0 0 rg BT 514.67 77.40 Td (may ) Tj ET Q q 0 0 0 rg BT 530.15 77.40 Td (also ) Tj ET Q q 0 0 0 rg BT 544.74 77.40 Td (cause ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 67.80 Td (a ) Tj ET Q q 0 0 0 rg BT 55.04 67.80 Td (deterioration ) Tj ET Q q 0 0 0 rg BT 97.90 67.80 Td (in ) Tj ET Q q 0 0 0 rg BT 106.11 67.80 Td (general ) Tj ET Q q 0 0 0 rg BT 131.64 67.80 Td (economic ) Tj ET Q q 0 0 0 rg BT 164.73 67.80 Td (conditions ) Tj ET Q q 0 0 0 rg BT 200.05 67.80 Td (that ) Tj ET Q q 0 0 0 rg BT 214.03 67.80 Td (may ) Tj ET Q q 0 0 0 rg BT 229.80 67.80 Td (reduce ) Tj ET Q q 0 0 0 rg BT 253.10 67.80 Td (advertising ) Tj ET Q q 0 0 0 rg BT 290.64 67.80 Td (spending. ) Tj ET Q q 0 0 0 rg BT 323.08 67.80 Td (Any ) Tj ET Q q 0 0 0 rg BT 338.84 67.80 Td (of ) Tj ET Q q 0 0 0 rg BT 347.50 67.80 Td (these ) Tj ET Q q 0 0 0 rg BT 365.92 67.80 Td (developments ) Tj ET Q q 0 0 0 rg BT 412.35 67.80 Td (would ) Tj ET Q q 0 0 0 rg BT 434.33 67.80 Td (have ) Tj ET Q q 0 0 0 rg BT 451.43 67.80 Td (a ) Tj ET Q q 0 0 0 rg BT 456.97 67.80 Td (significant ) Tj ET Q q 0 0 0 rg BT 492.72 67.80 Td (negative ) Tj ET Q q 0 0 0 rg BT 521.81 67.80 Td (ef) Tj ET Q q 0 0 0 rg BT 527.88 67.80 Td (fect ) Tj ET Q q 0 0 0 rg BT 541.86 67.80 Td (on ) Tj ET Q q 0 0 0 rg BT 551.85 67.80 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 58.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 79.48 58.20 Td (position, ) Tj ET Q q 0 0 0 rg BT 109.27 58.20 Td (results ) Tj ET Q q 0 0 0 rg BT 132.15 58.20 Td (of ) Tj ET Q q 0 0 0 rg BT 140.82 58.20 Td (operations ) Tj ET Q q 0 0 0 rg BT 176.14 58.20 Td (and ) Tj ET Q q 0 0 0 rg BT 189.69 58.20 Td (cash ) Tj ET Q q 0 0 0 rg BT 205.91 58.20 Td (flows.) Tj ET Q endstream endobj 25 0 obj <>] /Rotate 0 /Contents 26 0 R>> endobj 26 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (10) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 723.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 64.84 723.60 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 93.95 723.60 Td (constraints ) Tj ET Q q 0 0 0 rg BT 132.41 723.60 Td (and ) Tj ET Q q 0 0 0 rg BT 146.86 723.60 Td (debt ) Tj ET Q q 0 0 0 rg BT 162.63 723.60 Td (service ) Tj ET Q q 0 0 0 rg BT 187.29 723.60 Td (obligations ) Tj ET Q q 0 0 0 rg BT 225.74 723.60 Td (may ) Tj ET Q q 0 0 0 rg BT 241.51 723.60 Td (restrict ) Tj ET Q q 0 0 0 rg BT 266.62 723.60 Td (our ) Tj ET Q q 0 0 0 rg BT 280.18 723.60 Td (ability ) Tj ET Q q 0 0 0 rg BT 302.63 723.60 Td (to ) Tj ET Q q 0 0 0 rg BT 310.85 723.60 Td (fund ) Tj ET Q q 0 0 0 rg BT 328.41 723.60 Td (our ) Tj ET Q q 0 0 0 rg BT 341.97 723.60 Td (operations.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 708.00 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 708.00 Td (e ) Tj ET Q q 0 0 0 rg BT 61.79 708.00 Td (have ) Tj ET Q q 0 0 0 rg BT 78.71 708.00 Td (significant ) Tj ET Q q 0 0 0 rg BT 114.31 708.00 Td (debt ) Tj ET Q q 0 0 0 rg BT 129.91 708.00 Td (service ) Tj ET Q q 0 0 0 rg BT 154.39 708.00 Td (obligations ) Tj ET Q q 0 0 0 rg BT 191.77 708.00 Td (under ) Tj ET Q q 0 0 0 rg BT 211.81 708.00 Td (the ) Tj ET Q q 0 0 0 rg BT 223.41 708.00 Td (2015 ) Tj ET Q q 0 0 0 rg BT 241.24 708.00 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 280.83 708.00 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 303.32 708.00 Td (the ) Tj ET Q q 0 0 0 rg BT 314.92 708.00 Td (2017 ) Tj ET Q q 0 0 0 rg BT 332.75 708.00 Td (PIK ) Tj ET Q q 0 0 0 rg BT 347.46 708.00 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 369.96 708.00 Td (the ) Tj ET Q q 0 0 0 rg BT 381.55 708.00 Td (2017 ) Tj ET Q q 0 0 0 rg BT 399.25 708.00 Td (T) Tj ET Q q 0 0 0 rg BT 403.58 708.00 Td (erm ) Tj ET Q q 0 0 0 rg BT 417.84 708.00 Td (Loan, ) Tj ET Q q 0 0 0 rg BT 438.10 708.00 Td (the ) Tj ET Q q 0 0 0 rg BT 449.70 708.00 Td (2017Revolving ) Tj ET Q q 0 0 0 rg BT 502.86 708.00 Td (Credit ) Tj ET Q q 0 0 0 rg BT 524.68 708.00 Td (Facility ) Tj ET Q q 0 0 0 rg BT 550.95 708.00 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 698.40 Td (the ) Tj ET Q q 0 0 0 rg BT 60.98 698.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 78.68 698.40 Td (Euro ) Tj ET Q q 0 0 0 rg BT 95.82 698.40 Td (T) Tj ET Q q 0 0 0 rg BT 100.14 698.40 Td (erm ) Tj ET Q q 0 0 0 rg BT 114.29 698.40 Td (Loan. ) Tj ET Q q 0 0 0 rg BT 134.31 698.40 Td (W) Tj ET Q q 0 0 0 rg BT 141.22 698.40 Td (e ) Tj ET Q q 0 0 0 rg BT 146.47 698.40 Td (expect ) Tj ET Q q 0 0 0 rg BT 169.05 698.40 Td (that ) Tj ET Q q 0 0 0 rg BT 182.75 698.40 Td (our ) Tj ET Q q 0 0 0 rg BT 195.12 698.40 Td (cash ) Tj ET Q q 0 0 0 rg BT 211.04 698.40 Td (flows ) Tj ET Q q 0 0 0 rg BT 230.53 698.40 Td (from ) Tj ET Q q 0 0 0 rg BT 247.78 698.40 Td (operating ) Tj ET Q q 0 0 0 rg BT 279.70 698.40 Td (activities ) Tj ET Q q 0 0 0 rg BT 310.28 698.40 Td (will ) Tj ET Q q 0 0 0 rg BT 324.43 698.40 Td (continue ) Tj ET Q q 0 0 0 rg BT 353.68 698.40 Td (to ) Tj ET Q q 0 0 0 rg BT 361.61 698.40 Td (be ) Tj ET Q q 0 0 0 rg BT 370.87 698.40 Td (insuf) Tj ET Q q 0 0 0 rg BT 386.72 698.40 Td (ficient ) Tj ET Q q 0 0 0 rg BT 408.86 698.40 Td (to ) Tj ET Q q 0 0 0 rg BT 416.79 698.40 Td (cover ) Tj ET Q q 0 0 0 rg BT 436.26 698.40 Td (operating ) Tj ET Q q 0 0 0 rg BT 468.18 698.40 Td (expenses ) Tj ET Q q 0 0 0 rg BT 498.76 698.40 Td (and ) Tj ET Q q 0 0 0 rg BT 512.02 698.40 Td (our ) Tj ET Q q 0 0 0 rg BT 524.38 698.40 Td (debt ) Tj ET Q q 0 0 0 rg BT 539.86 698.40 Td (service ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 688.80 Td (obligations, ) Tj ET Q q 0 0 0 rg BT 89.45 688.80 Td (including ) Tj ET Q q 0 0 0 rg BT 122.06 688.80 Td (the ) Tj ET Q q 0 0 0 rg BT 134.22 688.80 Td (repayment ) Tj ET Q q 0 0 0 rg BT 170.38 688.80 Td (of ) Tj ET Q q 0 0 0 rg BT 179.43 688.80 Td (the ) Tj ET Q q 0 0 0 rg BT 191.60 688.80 Td (2015 ) Tj ET Q q 0 0 0 rg BT 209.99 688.80 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 250.15 688.80 Td (Notes ) Tj ET Q q 0 0 0 rg BT 271.20 688.80 Td (at ) Tj ET Q q 0 0 0 rg BT 279.37 688.80 Td (maturity ) Tj ET Q q 0 0 0 rg BT 308.87 688.80 Td (on ) Tj ET Q q 0 0 0 rg BT 319.26 688.80 Td (November ) Tj ET Q q 0 0 0 rg BT 355.42 688.80 Td (15, ) Tj ET Q q 0 0 0 rg BT 367.81 688.80 Td (2015. ) Tj ET Q q 0 0 0 rg BT 388.20 688.80 Td (Improving ) Tj ET Q q 0 0 0 rg BT 424.36 688.80 Td (our ) Tj ET Q q 0 0 0 rg BT 437.42 688.80 Td (payables ) Tj ET Q q 0 0 0 rg BT 467.80 688.80 Td (position ) Tj ET Q q 0 0 0 rg BT 495.97 688.80 Td (resulted ) Tj ET Q q 0 0 0 rg BT 523.69 688.80 Td (in ) Tj ET Q q 0 0 0 rg BT 532.30 688.80 Td (increased ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 679.20 Td (operating ) Tj ET Q q 0 0 0 rg BT 81.43 679.20 Td (cash ) Tj ET Q q 0 0 0 rg BT 97.36 679.20 Td (outflows ) Tj ET Q q 0 0 0 rg BT 127.08 679.20 Td (during ) Tj ET Q q 0 0 0 rg BT 149.69 679.20 Td (2014 ) Tj ET Q q 0 0 0 rg BT 167.41 679.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 200.66 679.20 Td (to ) Tj ET Q q 0 0 0 rg BT 208.61 679.20 Td (2013, ) Tj ET Q q 0 0 0 rg BT 228.32 679.20 Td (which ) Tj ET Q q 0 0 0 rg BT 249.59 679.20 Td (we ) Tj ET Q q 0 0 0 rg BT 260.64 679.20 Td (funded ) Tj ET Q q 0 0 0 rg BT 284.57 679.20 Td (in ) Tj ET Q q 0 0 0 rg BT 292.52 679.20 Td (part ) Tj ET Q q 0 0 0 rg BT 306.67 679.20 Td (with ) Tj ET Q q 0 0 0 rg BT 322.61 679.20 Td (a ) Tj ET Q q 0 0 0 rg BT 327.88 679.20 Td (drawing ) Tj ET Q q 0 0 0 rg BT 355.82 679.20 Td (under ) Tj ET Q q 0 0 0 rg BT 375.75 679.20 Td (the ) Tj ET Q q 0 0 0 rg BT 387.24 679.20 Td (2017 ) Tj ET Q q 0 0 0 rg BT 404.96 679.20 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 440.01 679.20 Td (Credit ) Tj ET Q q 0 0 0 rg BT 461.73 679.20 Td (Facility) Tj ET Q q 0 0 0 rg BT 485.65 679.20 Td (, ) Tj ET Q q 0 0 0 rg BT 489.37 679.20 Td (resulting ) Tj ET Q q 0 0 0 rg BT 519.08 679.20 Td (in ) Tj ET Q q 0 0 0 rg BT 527.02 679.20 Td (an ) Tj ET Q q 0 0 0 rg BT 536.29 679.20 Td (increase ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 669.60 Td (in ) Tj ET Q q 0 0 0 rg BT 57.83 669.60 Td (our ) Tj ET Q q 0 0 0 rg BT 70.61 669.60 Td (debt ) Tj ET Q q 0 0 0 rg BT 86.50 669.60 Td (service ) Tj ET Q q 0 0 0 rg BT 111.26 669.60 Td (obligations. ) Tj ET Q q 0 0 0 rg BT 150.93 669.60 Td (In ) Tj ET Q q 0 0 0 rg BT 159.71 669.60 Td (addition, ) Tj ET Q q 0 0 0 rg BT 190.04 669.60 Td (although ) Tj ET Q q 0 0 0 rg BT 220.14 669.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 245.80 669.60 Td (on ) Tj ET Q q 0 0 0 rg BT 255.92 669.60 Td (the ) Tj ET Q q 0 0 0 rg BT 267.80 669.60 Td (2017 ) Tj ET Q q 0 0 0 rg BT 285.91 669.60 Td (PIK ) Tj ET Q q 0 0 0 rg BT 300.92 669.60 Td (Notes ) Tj ET Q q 0 0 0 rg BT 321.69 669.60 Td (is ) Tj ET Q q 0 0 0 rg BT 329.14 669.60 Td (initially ) Tj ET Q q 0 0 0 rg BT 356.14 669.60 Td (non-cash ) Tj ET Q q 0 0 0 rg BT 387.13 669.60 Td (pay ) Tj ET Q q 0 0 0 rg BT 400.79 669.60 Td (and ) Tj ET Q q 0 0 0 rg BT 414.46 669.60 Td (on ) Tj ET Q q 0 0 0 rg BT 424.57 669.60 Td (the ) Tj ET Q q 0 0 0 rg BT 436.46 669.60 Td (2017 ) Tj ET Q q 0 0 0 rg BT 454.42 669.60 Td (T) Tj ET Q q 0 0 0 rg BT 458.74 669.60 Td (erm ) Tj ET Q q 0 0 0 rg BT 473.29 669.60 Td (Loan ) Tj ET Q q 0 0 0 rg BT 491.84 669.60 Td (is ) Tj ET Q q 0 0 0 rg BT 499.29 669.60 Td (non-cash ) Tj ET Q q 0 0 0 rg BT 530.28 669.60 Td (pay ) Tj ET Q q 0 0 0 rg BT 543.95 669.60 Td (at ) Tj ET Q q 0 0 0 rg BT 551.83 669.60 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 660.00 Td (option, ) Tj ET Q q 0 0 0 rg BT 74.03 660.00 Td (reducing ) Tj ET Q q 0 0 0 rg BT 104.10 660.00 Td (our ) Tj ET Q q 0 0 0 rg BT 116.85 660.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 133.14 660.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 158.77 660.00 Td (costs ) Tj ET Q q 0 0 0 rg BT 176.86 660.00 Td (in ) Tj ET Q q 0 0 0 rg BT 185.16 660.00 Td (the ) Tj ET Q q 0 0 0 rg BT 197.02 660.00 Td (near ) Tj ET Q q 0 0 0 rg BT 212.87 660.00 Td (term, ) Tj ET Q q 0 0 0 rg BT 231.61 660.00 Td (the ) Tj ET Q q 0 0 0 rg BT 243.47 660.00 Td (2017 ) Tj ET Q q 0 0 0 rg BT 261.55 660.00 Td (PIK ) Tj ET Q q 0 0 0 rg BT 276.52 660.00 Td (Notes ) Tj ET Q q 0 0 0 rg BT 297.27 660.00 Td (and ) Tj ET Q q 0 0 0 rg BT 310.91 660.00 Td (the ) Tj ET Q q 0 0 0 rg BT 322.76 660.00 Td (2017 ) Tj ET Q q 0 0 0 rg BT 340.69 660.00 Td (T) Tj ET Q q 0 0 0 rg BT 345.02 660.00 Td (erm ) Tj ET Q q 0 0 0 rg BT 359.54 660.00 Td (Loan ) Tj ET Q q 0 0 0 rg BT 378.06 660.00 Td (accrue ) Tj ET Q q 0 0 0 rg BT 401.01 660.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 426.64 660.00 Td (at ) Tj ET Q q 0 0 0 rg BT 434.50 660.00 Td (a ) Tj ET Q q 0 0 0 rg BT 440.13 660.00 Td (significantly ) Tj ET Q q 0 0 0 rg BT 482.21 660.00 Td (higher ) Tj ET Q q 0 0 0 rg BT 504.73 660.00 Td (rate ) Tj ET Q q 0 0 0 rg BT 518.80 660.00 Td (than ) Tj ET Q q 0 0 0 rg BT 534.66 660.00 Td (the ) Tj ET Q q 0 0 0 rg BT 546.51 660.00 Td (2015 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 650.40 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 89.26 650.40 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 111.91 650.40 Td (and ) Tj ET Q q 0 0 0 rg BT 125.45 650.40 Td (such ) Tj ET Q q 0 0 0 rg BT 142.11 650.40 Td (interest ) Tj ET Q q 0 0 0 rg BT 167.64 650.40 Td (is ) Tj ET Q q 0 0 0 rg BT 174.97 650.40 Td (required ) Tj ET Q q 0 0 0 rg BT 203.61 650.40 Td (to ) Tj ET Q q 0 0 0 rg BT 211.82 650.40 Td (be ) Tj ET Q q 0 0 0 rg BT 221.36 650.40 Td (repaid ) Tj ET Q q 0 0 0 rg BT 243.34 650.40 Td (in ) Tj ET Q q 0 0 0 rg BT 251.55 650.40 Td (cash ) Tj ET Q q 0 0 0 rg BT 267.75 650.40 Td (by ) Tj ET Q q 0 0 0 rg BT 277.74 650.40 Td (their ) Tj ET Q q 0 0 0 rg BT 294.39 650.40 Td (maturity ) Tj ET Q q 0 0 0 rg BT 323.49 650.40 Td (dates. ) Tj ET Q q 0 0 0 rg BT 343.91 650.40 Td (Furthermore, ) Tj ET Q q 0 0 0 rg BT 387.89 650.40 Td (we ) Tj ET Q q 0 0 0 rg BT 399.21 650.40 Td (must ) Tj ET Q q 0 0 0 rg BT 416.76 650.40 Td (pay ) Tj ET Q q 0 0 0 rg BT 430.30 650.40 Td (a ) Tj ET Q q 0 0 0 rg BT 435.84 650.40 Td (fee ) Tj ET Q q 0 0 0 rg BT 447.59 650.40 Td (to ) Tj ET Q q 0 0 0 rg BT 455.66 650.40 Td (T) Tj ET Q q 0 0 0 rg BT 460.27 650.40 Td (ime ) Tj ET Q q 0 0 0 rg BT 474.11 650.40 Td (W) Tj ET Q q 0 0 0 rg BT 481.02 650.40 Td (arner ) Tj ET Q q 0 0 0 rg BT 499.44 650.40 Td (as ) Tj ET Q q 0 0 0 rg BT 508.09 650.40 Td (consideration ) Tj ET Q q 0 0 0 rg BT 553.18 650.40 Td (for ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 640.80 Td (its ) Tj ET Q q 0 0 0 rg BT 58.87 640.80 Td (guarantee ) Tj ET Q q 0 0 0 rg BT 91.77 640.80 Td (of ) Tj ET Q q 0 0 0 rg BT 100.24 640.80 Td (the ) Tj ET Q q 0 0 0 rg BT 111.82 640.80 Td (2017 ) Tj ET Q q 0 0 0 rg BT 129.63 640.80 Td (Euro ) Tj ET Q q 0 0 0 rg BT 146.86 640.80 Td (T) Tj ET Q q 0 0 0 rg BT 151.19 640.80 Td (erm ) Tj ET Q q 0 0 0 rg BT 165.43 640.80 Td (Loan ) Tj ET Q q 0 0 0 rg BT 183.68 640.80 Td (\(the ) Tj ET Q q 0 0 0 rg BT 197.92 640.80 Td ("TW) Tj ET Q q 0 0 0 rg BT 213.48 640.80 Td ( ) Tj ET Q q 0 0 0 rg BT 215.29 640.80 Td (Guarantee"\). ) Tj ET Q q 0 0 0 rg BT 257.50 640.80 Td (Although ) Tj ET Q q 0 0 0 rg BT 289.53 640.80 Td (the ) Tj ET Q q 0 0 0 rg BT 301.11 640.80 Td (guarantee ) Tj ET Q q 0 0 0 rg BT 334.01 640.80 Td (fee ) Tj ET Q q 0 0 0 rg BT 345.58 640.80 Td (is ) Tj ET Q q 0 0 0 rg BT 352.73 640.80 Td (non-cash ) Tj ET Q q 0 0 0 rg BT 383.42 640.80 Td (pay ) Tj ET Q q 0 0 0 rg BT 396.77 640.80 Td (at ) Tj ET Q q 0 0 0 rg BT 404.36 640.80 Td (our ) Tj ET Q q 0 0 0 rg BT 416.83 640.80 Td (option, ) Tj ET Q q 0 0 0 rg BT 441.08 640.80 Td (accruing ) Tj ET Q q 0 0 0 rg BT 470.43 640.80 Td (such ) Tj ET Q q 0 0 0 rg BT 486.90 640.80 Td (fee ) Tj ET Q q 0 0 0 rg BT 498.48 640.80 Td (will ) Tj ET Q q 0 0 0 rg BT 512.73 640.80 Td (further ) Tj ET Q q 0 0 0 rg BT 536.31 640.80 Td (increase ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 631.20 Td (the ) Tj ET Q q 0 0 0 rg BT 60.82 631.20 Td (amounts ) Tj ET Q q 0 0 0 rg BT 89.48 631.20 Td (to ) Tj ET Q q 0 0 0 rg BT 97.25 631.20 Td (be ) Tj ET Q q 0 0 0 rg BT 106.35 631.20 Td (repaid ) Tj ET Q q 0 0 0 rg BT 127.89 631.20 Td (at ) Tj ET Q q 0 0 0 rg BT 135.21 631.20 Td (the ) Tj ET Q q 0 0 0 rg BT 146.53 631.20 Td (maturity ) Tj ET Q q 0 0 0 rg BT 175.19 631.20 Td (date ) Tj ET Q q 0 0 0 rg BT 190.06 631.20 Td (of ) Tj ET Q q 0 0 0 rg BT 198.27 631.20 Td (the ) Tj ET Q q 0 0 0 rg BT 209.60 631.20 Td (2017 ) Tj ET Q q 0 0 0 rg BT 227.14 631.20 Td (Euro ) Tj ET Q q 0 0 0 rg BT 244.13 631.20 Td (T) Tj ET Q q 0 0 0 rg BT 248.46 631.20 Td (erm ) Tj ET Q q 0 0 0 rg BT 262.45 631.20 Td (Loan. ) Tj ET Q q 0 0 0 rg BT 282.09 631.20 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 321.56 631.20 Td (, ) Tj ET Q q 0 0 0 rg BT 325.11 631.20 Td (the ) Tj ET Q q 0 0 0 rg BT 336.43 631.20 Td (payment ) Tj ET Q q 0 0 0 rg BT 365.53 631.20 Td (of ) Tj ET Q q 0 0 0 rg BT 373.74 631.20 Td (interest ) Tj ET Q q 0 0 0 rg BT 398.84 631.20 Td (expense ) Tj ET Q q 0 0 0 rg BT 426.15 631.20 Td (in ) Tj ET Q q 0 0 0 rg BT 433.92 631.20 Td (kind ) Tj ET Q q 0 0 0 rg BT 449.69 631.20 Td (will ) Tj ET Q q 0 0 0 rg BT 463.69 631.20 Td (increase ) Tj ET Q q 0 0 0 rg BT 491.44 631.20 Td (our ) Tj ET Q q 0 0 0 rg BT 503.65 631.20 Td (already ) Tj ET Q q 0 0 0 rg BT 528.74 631.20 Td (significant ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 621.60 Td (leverage. ) Tj ET Q q 0 0 0 rg BT 80.62 621.60 Td (As ) Tj ET Q q 0 0 0 rg BT 92.13 621.60 Td (a ) Tj ET Q q 0 0 0 rg BT 98.29 621.60 Td (result ) Tj ET Q q 0 0 0 rg BT 118.67 621.60 Td (of ) Tj ET Q q 0 0 0 rg BT 127.94 621.60 Td (our ) Tj ET Q q 0 0 0 rg BT 141.22 621.60 Td (debt ) Tj ET Q q 0 0 0 rg BT 157.60 621.60 Td (service ) Tj ET Q q 0 0 0 rg BT 182.87 621.60 Td (obligations ) Tj ET Q q 0 0 0 rg BT 221.03 621.60 Td (and ) Tj ET Q q 0 0 0 rg BT 235.19 621.60 Td (covenants ) Tj ET Q q 0 0 0 rg BT 269.79 621.60 Td (contained ) Tj ET Q q 0 0 0 rg BT 303.50 621.60 Td (in ) Tj ET Q q 0 0 0 rg BT 312.33 621.60 Td (the ) Tj ET Q q 0 0 0 rg BT 324.71 621.60 Td (related ) Tj ET Q q 0 0 0 rg BT 349.09 621.60 Td (indentures ) Tj ET Q q 0 0 0 rg BT 385.02 621.60 Td (and ) Tj ET Q q 0 0 0 rg BT 399.18 621.60 Td (loan ) Tj ET Q q 0 0 0 rg BT 415.57 621.60 Td (agreements, ) Tj ET Q q 0 0 0 rg BT 456.60 621.60 Td (we ) Tj ET Q q 0 0 0 rg BT 468.54 621.60 Td (are ) Tj ET Q q 0 0 0 rg BT 480.92 621.60 Td (restricted ) Tj ET Q q 0 0 0 rg BT 513.29 621.60 Td (under ) Tj ET Q q 0 0 0 rg BT 534.11 621.60 Td (the ) Tj ET Q q 0 0 0 rg BT 546.50 621.60 Td (2015 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 612.00 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 89.17 612.00 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 111.73 612.00 Td (the ) Tj ET Q q 0 0 0 rg BT 123.41 612.00 Td (2017 ) Tj ET Q q 0 0 0 rg BT 141.30 612.00 Td (PIK ) Tj ET Q q 0 0 0 rg BT 156.09 612.00 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 178.66 612.00 Td (the ) Tj ET Q q 0 0 0 rg BT 190.33 612.00 Td (2017 ) Tj ET Q q 0 0 0 rg BT 208.09 612.00 Td (T) Tj ET Q q 0 0 0 rg BT 212.42 612.00 Td (erm ) Tj ET Q q 0 0 0 rg BT 226.76 612.00 Td (Loan, ) Tj ET Q q 0 0 0 rg BT 247.10 612.00 Td (the ) Tj ET Q q 0 0 0 rg BT 258.77 612.00 Td (2017 ) Tj ET Q q 0 0 0 rg BT 276.67 612.00 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 311.90 612.00 Td (Credit ) Tj ET Q q 0 0 0 rg BT 333.79 612.00 Td (Facility ) Tj ET Q q 0 0 0 rg BT 360.14 612.00 Td (and ) Tj ET Q q 0 0 0 rg BT 373.59 612.00 Td (the ) Tj ET Q q 0 0 0 rg BT 385.26 612.00 Td (reimbursement ) Tj ET Q q 0 0 0 rg BT 435.14 612.00 Td (agreement ) Tj ET Q q 0 0 0 rg BT 470.35 612.00 Td (with ) Tj ET Q q 0 0 0 rg BT 486.34 612.00 Td (T) Tj ET Q q 0 0 0 rg BT 490.94 612.00 Td (ime ) Tj ET Q q 0 0 0 rg BT 504.70 612.00 Td (W) Tj ET Q q 0 0 0 rg BT 511.61 612.00 Td (arner ) Tj ET Q q 0 0 0 rg BT 529.94 612.00 Td (relating ) Tj ET Q q 0 0 0 rg BT 556.27 612.00 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 602.40 Td (the ) Tj ET Q q 0 0 0 rg BT 60.73 602.40 Td (TW) Tj ET Q q 0 0 0 rg BT 73.03 602.40 Td ( ) Tj ET Q q 0 0 0 rg BT 74.60 602.40 Td (Guarantee ) Tj ET Q q 0 0 0 rg BT 109.05 602.40 Td (\(the ) Tj ET Q q 0 0 0 rg BT 123.06 602.40 Td (Reimbursement ) Tj ET Q q 0 0 0 rg BT 178.49 602.40 Td (Agreement"\) ) Tj ET Q q 0 0 0 rg BT 221.54 602.40 Td (in ) Tj ET Q q 0 0 0 rg BT 229.33 602.40 Td (the ) Tj ET Q q 0 0 0 rg BT 240.68 602.40 Td (manner ) Tj ET Q q 0 0 0 rg BT 266.25 602.40 Td (in ) Tj ET Q q 0 0 0 rg BT 274.04 602.40 Td (which ) Tj ET Q q 0 0 0 rg BT 295.17 602.40 Td (our ) Tj ET Q q 0 0 0 rg BT 307.41 602.40 Td (business ) Tj ET Q q 0 0 0 rg BT 336.10 602.40 Td (is ) Tj ET Q q 0 0 0 rg BT 343.01 602.40 Td (conducted, ) Tj ET Q q 0 0 0 rg BT 379.46 602.40 Td (including ) Tj ET Q q 0 0 0 rg BT 411.25 602.40 Td (but ) Tj ET Q q 0 0 0 rg BT 423.05 602.40 Td (not ) Tj ET Q q 0 0 0 rg BT 434.85 602.40 Td (limited ) Tj ET Q q 0 0 0 rg BT 459.09 602.40 Td (to ) Tj ET Q q 0 0 0 rg BT 466.89 602.40 Td (our ) Tj ET Q q 0 0 0 rg BT 479.13 602.40 Td (ability ) Tj ET Q q 0 0 0 rg BT 501.14 602.40 Td (to ) Tj ET Q q 0 0 0 rg BT 508.94 602.40 Td (obtain ) Tj ET Q q 0 0 0 rg BT 530.51 602.40 Td (additional ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 592.80 Td (debt ) Tj ET Q q 0 0 0 rg BT 65.04 592.80 Td (financing ) Tj ET Q q 0 0 0 rg BT 97.01 592.80 Td (to ) Tj ET Q q 0 0 0 rg BT 105.00 592.80 Td (refinance ) Tj ET Q q 0 0 0 rg BT 136.51 592.80 Td (existing ) Tj ET Q q 0 0 0 rg BT 163.61 592.80 Td (indebtedness ) Tj ET Q q 0 0 0 rg BT 206.69 592.80 Td (or ) Tj ET Q q 0 0 0 rg BT 215.12 592.80 Td (to ) Tj ET Q q 0 0 0 rg BT 223.11 592.80 Td (fund ) Tj ET Q q 0 0 0 rg BT 239.53 592.80 Td (future ) Tj ET Q q 0 0 0 rg BT 260.40 592.80 Td (working ) Tj ET Q q 0 0 0 rg BT 288.82 592.80 Td (capital, ) Tj ET Q q 0 0 0 rg BT 313.91 592.80 Td (capital ) Tj ET Q q 0 0 0 rg BT 336.99 592.80 Td (expenditures, ) Tj ET Q q 0 0 0 rg BT 381.63 592.80 Td (business ) Tj ET Q q 0 0 0 rg BT 410.50 592.80 Td (opportunities, ) Tj ET Q q 0 0 0 rg BT 456.48 592.80 Td (other ) Tj ET Q q 0 0 0 rg BT 474.68 592.80 Td (corporate ) Tj ET Q q 0 0 0 rg BT 506.65 592.80 Td (requirements. ) Tj ET Q q 0 0 0 rg BT 552.05 592.80 Td (W) Tj ET Q q 0 0 0 rg BT 558.96 592.80 Td (e ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 583.20 Td (may ) Tj ET Q q 0 0 0 rg BT 65.43 583.20 Td (have ) Tj ET Q q 0 0 0 rg BT 82.69 583.20 Td (a ) Tj ET Q q 0 0 0 rg BT 88.39 583.20 Td (proportionally ) Tj ET Q q 0 0 0 rg BT 136.32 583.20 Td (higher ) Tj ET Q q 0 0 0 rg BT 158.91 583.20 Td (level ) Tj ET Q q 0 0 0 rg BT 176.61 583.20 Td (of ) Tj ET Q q 0 0 0 rg BT 185.43 583.20 Td (debt ) Tj ET Q q 0 0 0 rg BT 201.36 583.20 Td (than ) Tj ET Q q 0 0 0 rg BT 217.29 583.20 Td (our ) Tj ET Q q 0 0 0 rg BT 230.11 583.20 Td (competitors, ) Tj ET Q q 0 0 0 rg BT 272.03 583.20 Td (which ) Tj ET Q q 0 0 0 rg BT 293.74 583.20 Td (may ) Tj ET Q q 0 0 0 rg BT 309.67 583.20 Td (put ) Tj ET Q q 0 0 0 rg BT 322.04 583.20 Td (us ) Tj ET Q q 0 0 0 rg BT 331.31 583.20 Td (at ) Tj ET Q q 0 0 0 rg BT 339.24 583.20 Td (a ) Tj ET Q q 0 0 0 rg BT 344.95 583.20 Td (competitive ) Tj ET Q q 0 0 0 rg BT 384.87 583.20 Td (disadvantage ) Tj ET Q q 0 0 0 rg BT 428.79 583.20 Td (by ) Tj ET Q q 0 0 0 rg BT 438.94 583.20 Td (limiting ) Tj ET Q q 0 0 0 rg BT 466.43 583.20 Td (our ) Tj ET Q q 0 0 0 rg BT 479.25 583.20 Td (flexibility ) Tj ET Q q 0 0 0 rg BT 512.96 583.20 Td (in ) Tj ET Q q 0 0 0 rg BT 521.34 583.20 Td (planning ) Tj ET Q q 0 0 0 rg BT 551.49 583.20 Td (for) Tj ET Q q 0 0 0 rg BT 560.50 583.20 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 573.60 Td (or ) Tj ET Q q 0 0 0 rg BT 58.34 573.60 Td (reacting ) Tj ET Q q 0 0 0 rg BT 86.29 573.60 Td (to, ) Tj ET Q q 0 0 0 rg BT 96.69 573.60 Td (changes ) Tj ET Q q 0 0 0 rg BT 124.63 573.60 Td (in ) Tj ET Q q 0 0 0 rg BT 133.04 573.60 Td (our ) Tj ET Q q 0 0 0 rg BT 145.88 573.60 Td (business, ) Tj ET Q q 0 0 0 rg BT 177.17 573.60 Td (economic ) Tj ET Q q 0 0 0 rg BT 210.45 573.60 Td (conditions ) Tj ET Q q 0 0 0 rg BT 245.96 573.60 Td (and ) Tj ET Q q 0 0 0 rg BT 259.69 573.60 Td (our ) Tj ET Q q 0 0 0 rg BT 272.54 573.60 Td (industry) Tj ET Q q 0 0 0 rg BT 298.24 573.60 Td (. ) Tj ET Q q 0 0 0 rg BT 302.42 573.60 Td (For ) Tj ET Q q 0 0 0 rg BT 315.71 573.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 349.88 573.60 Td (information ) Tj ET Q q 0 0 0 rg BT 389.83 573.60 Td (regarding ) Tj ET Q q 0 0 0 rg BT 422.66 573.60 Td (the ) Tj ET Q q 0 0 0 rg BT 434.62 573.60 Td (Reimbursement ) Tj ET Q q 0 0 0 rg BT 486.97 573.60 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 524.69 573.60 Td (and ) Tj ET Q q 0 0 0 rg BT 538.42 573.60 Td (the ) Tj ET Q q 0 0 0 rg BT 550.22 573.60 Td (TW) Tj ET Q q 0 0 0 rg BT 562.51 573.60 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 564.00 Td (Guarantee, ) Tj ET Q q 0 0 0 rg BT 86.37 564.00 Td (see ) Tj ET Q q 0 0 0 rg BT 98.58 564.00 Td (Part ) Tj ET Q q 0 0 0 rg BT 113.47 564.00 Td (II, ) Tj ET Q q 0 0 0 rg BT 122.80 564.00 Td (Item ) Tj ET Q q 0 0 0 rg BT 139.46 564.00 Td (8, ) Tj ET Q q 0 0 0 rg BT 147.46 564.00 Td (Note ) Tj ET Q q 0 0 0 rg BT 165.01 564.00 Td (5 ) Tj ET Q q 0 0 0 rg BT 171.01 564.00 Td ("Long-T) Tj ET Q q 0 0 0 rg BT 198.15 564.00 Td (erm ) Tj ET Q q 0 0 0 rg BT 212.59 564.00 Td (Debt ) Tj ET Q q 0 0 0 rg BT 230.14 564.00 Td (and ) Tj ET Q q 0 0 0 rg BT 243.69 564.00 Td (Other ) Tj ET Q q 0 0 0 rg BT 263.91 564.00 Td (Financing ) Tj ET Q q 0 0 0 rg BT 297.46 564.00 Td (Arrangements ) Tj ET Q q 0 0 0 rg BT 344.78 564.00 Td (- ) Tj ET Q q 0 0 0 rg BT 349.44 564.00 Td (2017 ) Tj ET Q q 0 0 0 rg BT 367.44 564.00 Td (Euro ) Tj ET Q q 0 0 0 rg BT 384.85 564.00 Td (T) Tj ET Q q 0 0 0 rg BT 389.18 564.00 Td (erm ) Tj ET Q q 0 0 0 rg BT 403.61 564.00 Td (Loan".) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 548.40 Td (Fluctuations ) Tj ET Q q 0 0 0 rg BT 93.74 548.40 Td (in ) Tj ET Q q 0 0 0 rg BT 102.41 548.40 Td (exchange ) Tj ET Q q 0 0 0 rg BT 135.96 548.40 Td (rates ) Tj ET Q q 0 0 0 rg BT 153.96 548.40 Td (may ) Tj ET Q q 0 0 0 rg BT 169.73 548.40 Td (adversely ) Tj ET Q q 0 0 0 rg BT 202.39 548.40 Td (af) Tj ET Q q 0 0 0 rg BT 208.91 548.40 Td (fect ) Tj ET Q q 0 0 0 rg BT 222.89 548.40 Td (our ) Tj ET Q q 0 0 0 rg BT 236.46 548.40 Td (results ) Tj ET Q q 0 0 0 rg BT 260.24 548.40 Td (of ) Tj ET Q q 0 0 0 rg BT 268.91 548.40 Td (operations.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 532.80 Td (Our ) Tj ET Q q 0 0 0 rg BT 64.25 532.80 Td (reporting ) Tj ET Q q 0 0 0 rg BT 95.89 532.80 Td (currency ) Tj ET Q q 0 0 0 rg BT 126.18 532.80 Td (is ) Tj ET Q q 0 0 0 rg BT 133.82 532.80 Td (the ) Tj ET Q q 0 0 0 rg BT 145.91 532.80 Td (dollar ) Tj ET Q q 0 0 0 rg BT 166.88 532.80 Td (but ) Tj ET Q q 0 0 0 rg BT 179.41 532.80 Td (our ) Tj ET Q q 0 0 0 rg BT 192.39 532.80 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 235.13 532.80 Td (revenues ) Tj ET Q q 0 0 0 rg BT 265.87 532.80 Td (and ) Tj ET Q q 0 0 0 rg BT 279.73 532.80 Td (costs, ) Tj ET Q q 0 0 0 rg BT 300.04 532.80 Td (including ) Tj ET Q q 0 0 0 rg BT 332.57 532.80 Td (programming ) Tj ET Q q 0 0 0 rg BT 378.43 532.80 Td (rights ) Tj ET Q q 0 0 0 rg BT 398.96 532.80 Td (expenses ) Tj ET Q q 0 0 0 rg BT 430.15 532.80 Td (and ) Tj ET Q q 0 0 0 rg BT 444.01 532.80 Td (interest ) Tj ET Q q 0 0 0 rg BT 469.87 532.80 Td (on ) Tj ET Q q 0 0 0 rg BT 480.18 532.80 Td (debt, ) Tj ET Q q 0 0 0 rg BT 498.27 532.80 Td (are ) Tj ET Q q 0 0 0 rg BT 510.34 532.80 Td (divided ) Tj ET Q q 0 0 0 rg BT 536.65 532.80 Td (across ) Tj ET Q q 0 0 0 rg BT 558.95 532.80 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 523.20 Td (range ) Tj ET Q q 0 0 0 rg BT 69.08 523.20 Td (of ) Tj ET Q q 0 0 0 rg BT 77.56 523.20 Td (currencies. ) Tj ET Q q 0 0 0 rg BT 113.84 523.20 Td (As ) Tj ET Q q 0 0 0 rg BT 124.55 523.20 Td (a ) Tj ET Q q 0 0 0 rg BT 129.91 523.20 Td (result, ) Tj ET Q q 0 0 0 rg BT 151.50 523.20 Td (while ) Tj ET Q q 0 0 0 rg BT 171.09 523.20 Td (we ) Tj ET Q q 0 0 0 rg BT 182.24 523.20 Td (anticipate ) Tj ET Q q 0 0 0 rg BT 215.15 523.20 Td (revenues ) Tj ET Q q 0 0 0 rg BT 245.39 523.20 Td (to ) Tj ET Q q 0 0 0 rg BT 253.43 523.20 Td (increase ) Tj ET Q q 0 0 0 rg BT 281.45 523.20 Td (in ) Tj ET Q q 0 0 0 rg BT 289.48 523.20 Td (2015 ) Tj ET Q q 0 0 0 rg BT 307.30 523.20 Td (in ) Tj ET Q q 0 0 0 rg BT 315.34 523.20 Td (our ) Tj ET Q q 0 0 0 rg BT 327.82 523.20 Td (functional ) Tj ET Q q 0 0 0 rg BT 362.07 523.20 Td (currencies, ) Tj ET Q q 0 0 0 rg BT 398.75 523.20 Td (a ) Tj ET Q q 0 0 0 rg BT 404.12 523.20 Td (strengthening ) Tj ET Q q 0 0 0 rg BT 449.48 523.20 Td (of ) Tj ET Q q 0 0 0 rg BT 457.96 523.20 Td (the ) Tj ET Q q 0 0 0 rg BT 469.55 523.20 Td (dollar ) Tj ET Q q 0 0 0 rg BT 490.02 523.20 Td (may ) Tj ET Q q 0 0 0 rg BT 505.61 523.20 Td (negatively ) Tj ET Q q 0 0 0 rg BT 540.75 523.20 Td (impact ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 513.60 Td (reported ) Tj ET Q q 0 0 0 rg BT 78.20 513.60 Td (revenues ) Tj ET Q q 0 0 0 rg BT 108.67 513.60 Td (when ) Tj ET Q q 0 0 0 rg BT 128.04 513.60 Td (translated ) Tj ET Q q 0 0 0 rg BT 161.19 513.60 Td (from ) Tj ET Q q 0 0 0 rg BT 178.78 513.60 Td (our ) Tj ET Q q 0 0 0 rg BT 191.49 513.60 Td (functional ) Tj ET Q q 0 0 0 rg BT 225.97 513.60 Td (currencies ) Tj ET Q q 0 0 0 rg BT 260.88 513.60 Td (to ) Tj ET Q q 0 0 0 rg BT 269.15 513.60 Td (dollars. ) Tj ET Q q 0 0 0 rg BT 294.97 513.60 Td (In ) Tj ET Q q 0 0 0 rg BT 303.68 513.60 Td (addition, ) Tj ET Q q 0 0 0 rg BT 333.94 513.60 Td (a ) Tj ET Q q 0 0 0 rg BT 339.54 513.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 375.35 513.60 Td (portion ) Tj ET Q q 0 0 0 rg BT 400.51 513.60 Td (of ) Tj ET Q q 0 0 0 rg BT 409.21 513.60 Td (our ) Tj ET Q q 0 0 0 rg BT 421.92 513.60 Td (programming ) Tj ET Q q 0 0 0 rg BT 467.52 513.60 Td (content ) Tj ET Q q 0 0 0 rg BT 493.11 513.60 Td (is ) Tj ET Q q 0 0 0 rg BT 500.49 513.60 Td (purchased ) Tj ET Q q 0 0 0 rg BT 534.96 513.60 Td (pursuant ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 504.00 Td (to ) Tj ET Q q 0 0 0 rg BT 57.42 504.00 Td (dollar) Tj ET Q q 0 0 0 rg BT 75.92 504.00 Td (-denominated ) Tj ET Q q 0 0 0 rg BT 121.60 504.00 Td (agreements. ) Tj ET Q q 0 0 0 rg BT 161.72 504.00 Td (If ) Tj ET Q q 0 0 0 rg BT 168.75 504.00 Td (the ) Tj ET Q q 0 0 0 rg BT 180.22 504.00 Td (dollar ) Tj ET Q q 0 0 0 rg BT 200.58 504.00 Td (appreciates ) Tj ET Q q 0 0 0 rg BT 238.25 504.00 Td (against ) Tj ET Q q 0 0 0 rg BT 262.61 504.00 Td (our ) Tj ET Q q 0 0 0 rg BT 274.97 504.00 Td (functional ) Tj ET Q q 0 0 0 rg BT 309.10 504.00 Td (currencies, ) Tj ET Q q 0 0 0 rg BT 345.67 504.00 Td (such ) Tj ET Q q 0 0 0 rg BT 362.03 504.00 Td (content ) Tj ET Q q 0 0 0 rg BT 387.27 504.00 Td (costs ) Tj ET Q q 0 0 0 rg BT 404.97 504.00 Td (may ) Tj ET Q q 0 0 0 rg BT 420.44 504.00 Td (be ) Tj ET Q q 0 0 0 rg BT 429.69 504.00 Td (adversely ) Tj ET Q q 0 0 0 rg BT 462.04 504.00 Td (af) Tj ET Q q 0 0 0 rg BT 468.11 504.00 Td (fected. ) Tj ET Q q 0 0 0 rg BT 491.34 504.00 Td (Furthermore, ) Tj ET Q q 0 0 0 rg BT 535.03 504.00 Td (the ) Tj ET Q q 0 0 0 rg BT 546.50 504.00 Td (2017 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 494.40 Td (Euro ) Tj ET Q q 0 0 0 rg BT 66.83 494.40 Td (T) Tj ET Q q 0 0 0 rg BT 71.16 494.40 Td (erm ) Tj ET Q q 0 0 0 rg BT 85.52 494.40 Td (Loan ) Tj ET Q q 0 0 0 rg BT 103.88 494.40 Td (is ) Tj ET Q q 0 0 0 rg BT 111.14 494.40 Td (denominated ) Tj ET Q q 0 0 0 rg BT 154.39 494.40 Td (in ) Tj ET Q q 0 0 0 rg BT 162.53 494.40 Td (Euros. ) Tj ET Q q 0 0 0 rg BT 184.98 494.40 Td (W) Tj ET Q q 0 0 0 rg BT 191.89 494.40 Td (e ) Tj ET Q q 0 0 0 rg BT 197.36 494.40 Td (have ) Tj ET Q q 0 0 0 rg BT 214.39 494.40 Td (not ) Tj ET Q q 0 0 0 rg BT 226.53 494.40 Td (attempted ) Tj ET Q q 0 0 0 rg BT 260.00 494.40 Td (to ) Tj ET Q q 0 0 0 rg BT 268.14 494.40 Td (hedge ) Tj ET Q q 0 0 0 rg BT 289.17 494.40 Td (the ) Tj ET Q q 0 0 0 rg BT 300.86 494.40 Td (foreign ) Tj ET Q q 0 0 0 rg BT 325.89 494.40 Td (exchange ) Tj ET Q q 0 0 0 rg BT 358.01 494.40 Td (exposure ) Tj ET Q q 0 0 0 rg BT 388.82 494.40 Td (on ) Tj ET Q q 0 0 0 rg BT 398.74 494.40 Td (the ) Tj ET Q q 0 0 0 rg BT 410.44 494.40 Td (principal ) Tj ET Q q 0 0 0 rg BT 440.79 494.40 Td (amount ) Tj ET Q q 0 0 0 rg BT 466.71 494.40 Td (of ) Tj ET Q q 0 0 0 rg BT 475.30 494.40 Td (this ) Tj ET Q q 0 0 0 rg BT 488.78 494.40 Td (loan ) Tj ET Q q 0 0 0 rg BT 504.48 494.40 Td (and ) Tj ET Q q 0 0 0 rg BT 517.95 494.40 Td (therefore ) Tj ET Q q 0 0 0 rg BT 548.74 494.40 Td (may ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 484.80 Td (experience ) Tj ET Q q 0 0 0 rg BT 85.95 484.80 Td (significant ) Tj ET Q q 0 0 0 rg BT 121.53 484.80 Td (gains ) Tj ET Q q 0 0 0 rg BT 140.22 484.80 Td (and ) Tj ET Q q 0 0 0 rg BT 153.58 484.80 Td (losses ) Tj ET Q q 0 0 0 rg BT 174.50 484.80 Td (on ) Tj ET Q q 0 0 0 rg BT 184.31 484.80 Td (the ) Tj ET Q q 0 0 0 rg BT 195.89 484.80 Td (translation ) Tj ET Q q 0 0 0 rg BT 231.47 484.80 Td (of ) Tj ET Q q 0 0 0 rg BT 239.95 484.80 Td (the ) Tj ET Q q 0 0 0 rg BT 251.53 484.80 Td (2017 ) Tj ET Q q 0 0 0 rg BT 269.34 484.80 Td (Euro ) Tj ET Q q 0 0 0 rg BT 286.56 484.80 Td (T) Tj ET Q q 0 0 0 rg BT 290.89 484.80 Td (erm ) Tj ET Q q 0 0 0 rg BT 305.14 484.80 Td (Loan ) Tj ET Q q 0 0 0 rg BT 323.38 484.80 Td (and ) Tj ET Q q 0 0 0 rg BT 336.74 484.80 Td (related ) Tj ET Q q 0 0 0 rg BT 360.31 484.80 Td (interest ) Tj ET Q q 0 0 0 rg BT 385.67 484.80 Td (payments ) Tj ET Q q 0 0 0 rg BT 418.14 484.80 Td (into ) Tj ET Q q 0 0 0 rg BT 432.39 484.80 Td (dollars. ) Tj ET Q q 0 0 0 rg BT 457.97 484.80 Td (General ) Tj ET Q q 0 0 0 rg BT 485.10 484.80 Td (market ) Tj ET Q q 0 0 0 rg BT 509.12 484.80 Td (conditions ) Tj ET Q q 0 0 0 rg BT 544.26 484.80 Td (or ) Tj ET Q q 0 0 0 rg BT 552.73 484.80 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 475.20 Td (global ) Tj ET Q q 0 0 0 rg BT 71.02 475.20 Td (macroeconomic ) Tj ET Q q 0 0 0 rg BT 123.63 475.20 Td (environment ) Tj ET Q q 0 0 0 rg BT 165.59 475.20 Td (may ) Tj ET Q q 0 0 0 rg BT 180.89 475.20 Td (increase ) Tj ET Q q 0 0 0 rg BT 208.61 475.20 Td (our ) Tj ET Q q 0 0 0 rg BT 220.80 475.20 Td (exposure ) Tj ET Q q 0 0 0 rg BT 251.21 475.20 Td (to ) Tj ET Q q 0 0 0 rg BT 258.95 475.20 Td (currency ) Tj ET Q q 0 0 0 rg BT 288.46 475.20 Td (fluctuations, ) Tj ET Q q 0 0 0 rg BT 329.75 475.20 Td (which ) Tj ET Q q 0 0 0 rg BT 350.83 475.20 Td (may ) Tj ET Q q 0 0 0 rg BT 366.13 475.20 Td (have ) Tj ET Q q 0 0 0 rg BT 382.75 475.20 Td (a ) Tj ET Q q 0 0 0 rg BT 387.83 475.20 Td (material ) Tj ET Q q 0 0 0 rg BT 415.56 475.20 Td (adverse ) Tj ET Q q 0 0 0 rg BT 441.51 475.20 Td (ef) Tj ET Q q 0 0 0 rg BT 447.58 475.20 Td (fect ) Tj ET Q q 0 0 0 rg BT 461.09 475.20 Td (on ) Tj ET Q q 0 0 0 rg BT 470.62 475.20 Td (our ) Tj ET Q q 0 0 0 rg BT 482.81 475.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 512.32 475.20 Td (position, ) Tj ET Q q 0 0 0 rg BT 541.62 475.20 Td (results ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 465.60 Td (of ) Tj ET Q q 0 0 0 rg BT 58.16 465.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 93.49 465.60 Td (and ) Tj ET Q q 0 0 0 rg BT 107.04 465.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 123.25 465.60 Td (flows.) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 450.00 Td (W) Tj ET Q q 0 0 0 rg BT 56.02 450.00 Td (e ) Tj ET Q q 0 0 0 rg BT 61.57 450.00 Td (may ) Tj ET Q q 0 0 0 rg BT 77.34 450.00 Td (be ) Tj ET Q q 0 0 0 rg BT 86.89 450.00 Td (unable ) Tj ET Q q 0 0 0 rg BT 111.57 450.00 Td (to ) Tj ET Q q 0 0 0 rg BT 119.79 450.00 Td (refinance ) Tj ET Q q 0 0 0 rg BT 153.34 450.00 Td (our ) Tj ET Q q 0 0 0 rg BT 166.90 450.00 Td (existing ) Tj ET Q q 0 0 0 rg BT 194.68 450.00 Td (indebtedness ) Tj ET Q q 0 0 0 rg BT 238.91 450.00 Td (and ) Tj ET Q q 0 0 0 rg BT 253.36 450.00 Td (may ) Tj ET Q q 0 0 0 rg BT 269.13 450.00 Td (not ) Tj ET Q q 0 0 0 rg BT 281.80 450.00 Td (be ) Tj ET Q q 0 0 0 rg BT 291.35 450.00 Td (able ) Tj ET Q q 0 0 0 rg BT 307.13 450.00 Td (to ) Tj ET Q q 0 0 0 rg BT 315.35 450.00 Td (obtain ) Tj ET Q q 0 0 0 rg BT 338.24 450.00 Td (favorable ) Tj ET Q q 0 0 0 rg BT 371.34 450.00 Td (refinancing ) Tj ET Q q 0 0 0 rg BT 412.02 450.00 Td (terms.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 434.40 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 434.40 Td (e ) Tj ET Q q 0 0 0 rg BT 62.13 434.40 Td (face ) Tj ET Q q 0 0 0 rg BT 77.62 434.40 Td (the ) Tj ET Q q 0 0 0 rg BT 89.56 434.40 Td (risk ) Tj ET Q q 0 0 0 rg BT 103.73 434.40 Td (that ) Tj ET Q q 0 0 0 rg BT 117.89 434.40 Td (we ) Tj ET Q q 0 0 0 rg BT 129.39 434.40 Td (will ) Tj ET Q q 0 0 0 rg BT 144.00 434.40 Td (not ) Tj ET Q q 0 0 0 rg BT 156.39 434.40 Td (be ) Tj ET Q q 0 0 0 rg BT 166.11 434.40 Td (able ) Tj ET Q q 0 0 0 rg BT 181.61 434.40 Td (to ) Tj ET Q q 0 0 0 rg BT 190.00 434.40 Td (renew) Tj ET Q q 0 0 0 rg BT 209.02 434.40 Td (, ) Tj ET Q q 0 0 0 rg BT 213.19 434.40 Td (repay ) Tj ET Q q 0 0 0 rg BT 233.13 434.40 Td (or ) Tj ET Q q 0 0 0 rg BT 241.96 434.40 Td (refinance ) Tj ET Q q 0 0 0 rg BT 273.88 434.40 Td (our ) Tj ET Q q 0 0 0 rg BT 286.71 434.40 Td (indebtedness ) Tj ET Q q 0 0 0 rg BT 330.21 434.40 Td (when ) Tj ET Q q 0 0 0 rg BT 349.71 434.40 Td (due, ) Tj ET Q q 0 0 0 rg BT 365.42 434.40 Td (or ) Tj ET Q q 0 0 0 rg BT 374.26 434.40 Td (that ) Tj ET Q q 0 0 0 rg BT 388.42 434.40 Td (the ) Tj ET Q q 0 0 0 rg BT 400.37 434.40 Td (terms ) Tj ET Q q 0 0 0 rg BT 420.31 434.40 Td (of ) Tj ET Q q 0 0 0 rg BT 429.14 434.40 Td (any ) Tj ET Q q 0 0 0 rg BT 442.86 434.40 Td (renewal ) Tj ET Q q 0 0 0 rg BT 470.35 434.40 Td (or ) Tj ET Q q 0 0 0 rg BT 479.18 434.40 Td (refinancing ) Tj ET Q q 0 0 0 rg BT 517.77 434.40 Td (will ) Tj ET Q q 0 0 0 rg BT 532.39 434.40 Td (not ) Tj ET Q q 0 0 0 rg BT 544.78 434.40 Td (be ) Tj ET Q q 0 0 0 rg BT 554.50 434.40 Td (on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 424.80 Td (better ) Tj ET Q q 0 0 0 rg BT 69.96 424.80 Td (terms ) Tj ET Q q 0 0 0 rg BT 89.99 424.80 Td (than ) Tj ET Q q 0 0 0 rg BT 106.02 424.80 Td (those ) Tj ET Q q 0 0 0 rg BT 125.16 424.80 Td (of ) Tj ET Q q 0 0 0 rg BT 134.07 424.80 Td (such ) Tj ET Q q 0 0 0 rg BT 150.99 424.80 Td (indebtedness ) Tj ET Q q 0 0 0 rg BT 194.57 424.80 Td (being ) Tj ET Q q 0 0 0 rg BT 214.59 424.80 Td (refinanced. ) Tj ET Q q 0 0 0 rg BT 252.60 424.80 Td (Following ) Tj ET Q q 0 0 0 rg BT 287.75 424.80 Td (the ) Tj ET Q q 0 0 0 rg BT 299.77 424.80 Td (financing ) Tj ET Q q 0 0 0 rg BT 332.24 424.80 Td (transactions ) Tj ET Q q 0 0 0 rg BT 372.70 424.80 Td (concluded ) Tj ET Q q 0 0 0 rg BT 407.83 424.80 Td (in ) Tj ET Q q 0 0 0 rg BT 416.31 424.80 Td (2014, ) Tj ET Q q 0 0 0 rg BT 436.56 424.80 Td (including ) Tj ET Q q 0 0 0 rg BT 469.03 424.80 Td (the ) Tj ET Q q 0 0 0 rg BT 481.06 424.80 Td (issuance ) Tj ET Q q 0 0 0 rg BT 510.41 424.80 Td (of ) Tj ET Q q 0 0 0 rg BT 519.33 424.80 Td (the ) Tj ET Q q 0 0 0 rg BT 531.35 424.80 Td (2017 ) Tj ET Q q 0 0 0 rg BT 549.61 424.80 Td (PIK ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 415.20 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 72.63 415.20 Td (the ) Tj ET Q q 0 0 0 rg BT 84.87 415.20 Td (drawdown ) Tj ET Q q 0 0 0 rg BT 121.11 415.20 Td (of ) Tj ET Q q 0 0 0 rg BT 130.24 415.20 Td (the ) Tj ET Q q 0 0 0 rg BT 142.48 415.20 Td (2017 ) Tj ET Q q 0 0 0 rg BT 160.77 415.20 Td (T) Tj ET Q q 0 0 0 rg BT 165.10 415.20 Td (erm ) Tj ET Q q 0 0 0 rg BT 180.01 415.20 Td (Loan, ) Tj ET Q q 0 0 0 rg BT 200.91 415.20 Td (drawings ) Tj ET Q q 0 0 0 rg BT 232.71 415.20 Td (under ) Tj ET Q q 0 0 0 rg BT 253.39 415.20 Td (the ) Tj ET Q q 0 0 0 rg BT 265.63 415.20 Td (2017 ) Tj ET Q q 0 0 0 rg BT 284.10 415.20 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 319.90 415.20 Td (Credit ) Tj ET Q q 0 0 0 rg BT 342.36 415.20 Td (Facility ) Tj ET Q q 0 0 0 rg BT 369.27 415.20 Td (and ) Tj ET Q q 0 0 0 rg BT 383.29 415.20 Td (the ) Tj ET Q q 0 0 0 rg BT 395.53 415.20 Td (drawdown ) Tj ET Q q 0 0 0 rg BT 431.77 415.20 Td (of ) Tj ET Q q 0 0 0 rg BT 440.90 415.20 Td (the ) Tj ET Q q 0 0 0 rg BT 453.14 415.20 Td (2017 ) Tj ET Q q 0 0 0 rg BT 471.61 415.20 Td (Euro ) Tj ET Q q 0 0 0 rg BT 489.45 415.20 Td (T) Tj ET Q q 0 0 0 rg BT 493.78 415.20 Td (erm ) Tj ET Q q 0 0 0 rg BT 508.68 415.20 Td (Loan, ) Tj ET Q q 0 0 0 rg BT 529.59 415.20 Td (we ) Tj ET Q q 0 0 0 rg BT 541.38 415.20 Td (have ) Tj ET Q q 0 0 0 rg BT 558.95 415.20 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 405.60 Td (substantial ) Tj ET Q q 0 0 0 rg BT 85.91 405.60 Td (amount ) Tj ET Q q 0 0 0 rg BT 112.09 405.60 Td (of ) Tj ET Q q 0 0 0 rg BT 120.95 405.60 Td (indebtedness, ) Tj ET Q q 0 0 0 rg BT 166.46 405.60 Td (including ) Tj ET Q q 0 0 0 rg BT 198.87 405.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 247.27 405.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 263.68 405.60 Td (261.0 ) Tj ET Q q 0 0 0 rg BT 283.87 405.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.98 405.60 Td ( ) Tj ET Q q 0 0 0 rg BT 309.17 405.60 Td (of ) Tj ET Q q 0 0 0 rg BT 318.03 405.60 Td (2015 ) Tj ET Q q 0 0 0 rg BT 336.22 405.60 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 376.18 405.60 Td (Notes ) Tj ET Q q 0 0 0 rg BT 397.03 405.60 Td (that ) Tj ET Q q 0 0 0 rg BT 411.21 405.60 Td (mature ) Tj ET Q q 0 0 0 rg BT 435.62 405.60 Td (on ) Tj ET Q q 0 0 0 rg BT 445.80 405.60 Td (November ) Tj ET Q q 0 0 0 rg BT 481.76 405.60 Td (15, ) Tj ET Q q 0 0 0 rg BT 493.95 405.60 Td (2015. ) Tj ET Q q 0 0 0 rg BT 514.14 405.60 Td (Pursuant ) Tj ET Q q 0 0 0 rg BT 544.33 405.60 Td (to ) Tj ET Q q 0 0 0 rg BT 552.74 405.60 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 396.00 Td (2015 ) Tj ET Q q 0 0 0 rg BT 67.54 396.00 Td (Refinancing ) Tj ET Q q 0 0 0 rg BT 108.68 396.00 Td (Commitment ) Tj ET Q q 0 0 0 rg BT 152.94 396.00 Td (Letter) Tj ET Q q 0 0 0 rg BT 171.72 396.00 Td (, ) Tj ET Q q 0 0 0 rg BT 175.61 396.00 Td (T) Tj ET Q q 0 0 0 rg BT 180.22 396.00 Td (ime ) Tj ET Q q 0 0 0 rg BT 194.10 396.00 Td (W) Tj ET Q q 0 0 0 rg BT 201.01 396.00 Td (arner ) Tj ET Q q 0 0 0 rg BT 219.48 396.00 Td (has ) Tj ET Q q 0 0 0 rg BT 232.19 396.00 Td (committed ) Tj ET Q q 0 0 0 rg BT 268.44 396.00 Td (to ) Tj ET Q q 0 0 0 rg BT 276.71 396.00 Td (provide ) Tj ET Q q 0 0 0 rg BT 303.18 396.00 Td (or ) Tj ET Q q 0 0 0 rg BT 311.89 396.00 Td (assist ) Tj ET Q q 0 0 0 rg BT 331.26 396.00 Td (with ) Tj ET Q q 0 0 0 rg BT 347.53 396.00 Td (arranging ) Tj ET Q q 0 0 0 rg BT 380.22 396.00 Td (a ) Tj ET Q q 0 0 0 rg BT 385.81 396.00 Td (loan ) Tj ET Q q 0 0 0 rg BT 401.62 396.00 Td (facility ) Tj ET Q q 0 0 0 rg BT 426.32 396.00 Td (to ) Tj ET Q q 0 0 0 rg BT 434.58 396.00 Td (refinance ) Tj ET Q q 0 0 0 rg BT 466.38 396.00 Td (the ) Tj ET Q q 0 0 0 rg BT 478.19 396.00 Td (2015 ) Tj ET Q q 0 0 0 rg BT 496.23 396.00 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 536.04 396.00 Td (Notes ) Tj ET Q q 0 0 0 rg BT 556.74 396.00 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 386.40 Td (or ) Tj ET Q q 0 0 0 rg BT 59.67 386.40 Td (immediately ) Tj ET Q q 0 0 0 rg BT 103.16 386.40 Td (prior ) Tj ET Q q 0 0 0 rg BT 122.22 386.40 Td (to ) Tj ET Q q 0 0 0 rg BT 131.95 386.40 Td (their ) Tj ET Q q 0 0 0 rg BT 150.11 386.40 Td (maturity) Tj ET Q q 0 0 0 rg BT 176.70 386.40 Td (, ) Tj ET Q q 0 0 0 rg BT 182.20 386.40 Td (subject ) Tj ET Q q 0 0 0 rg BT 208.37 386.40 Td (to ) Tj ET Q q 0 0 0 rg BT 218.09 386.40 Td (customary ) Tj ET Q q 0 0 0 rg BT 254.92 386.40 Td (closing ) Tj ET Q q 0 0 0 rg BT 281.54 386.40 Td (conditions ) Tj ET Q q 0 0 0 rg BT 318.37 386.40 Td (\(including ) Tj ET Q q 0 0 0 rg BT 354.76 386.40 Td (the ) Tj ET Q q 0 0 0 rg BT 368.04 386.40 Td (execution ) Tj ET Q q 0 0 0 rg BT 402.64 386.40 Td (and ) Tj ET Q q 0 0 0 rg BT 417.70 386.40 Td (delivery ) Tj ET Q q 0 0 0 rg BT 447.41 386.40 Td (of ) Tj ET Q q 0 0 0 rg BT 457.58 386.40 Td (documentation, ) Tj ET Q q 0 0 0 rg BT 510.63 386.40 Td (the ) Tj ET Q q 0 0 0 rg BT 523.91 386.40 Td (accuracy ) Tj ET Q q 0 0 0 rg BT 555.83 386.40 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 376.80 Td (representations, ) Tj ET Q q 0 0 0 rg BT 101.75 376.80 Td (the ) Tj ET Q q 0 0 0 rg BT 113.36 376.80 Td (absence ) Tj ET Q q 0 0 0 rg BT 140.50 376.80 Td (of ) Tj ET Q q 0 0 0 rg BT 149.00 376.80 Td (events ) Tj ET Q q 0 0 0 rg BT 171.26 376.80 Td (of ) Tj ET Q q 0 0 0 rg BT 179.76 376.80 Td (default ) Tj ET Q q 0 0 0 rg BT 203.80 376.80 Td (and ) Tj ET Q q 0 0 0 rg BT 217.18 376.80 Td (the ) Tj ET Q q 0 0 0 rg BT 228.78 376.80 Td (absence ) Tj ET Q q 0 0 0 rg BT 255.92 376.80 Td (of ) Tj ET Q q 0 0 0 rg BT 264.42 376.80 Td (material ) Tj ET Q q 0 0 0 rg BT 292.45 376.80 Td (adverse ) Tj ET Q q 0 0 0 rg BT 318.71 376.80 Td (changes\). ) Tj ET Q q 0 0 0 rg BT 350.97 376.80 Td (Under ) Tj ET Q q 0 0 0 rg BT 372.79 376.80 Td (the ) Tj ET Q q 0 0 0 rg BT 384.39 376.80 Td (2017 ) Tj ET Q q 0 0 0 rg BT 402.09 376.80 Td (T) Tj ET Q q 0 0 0 rg BT 406.42 376.80 Td (erm ) Tj ET Q q 0 0 0 rg BT 420.69 376.80 Td (Loan ) Tj ET Q q 0 0 0 rg BT 438.55 376.80 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 477.92 376.80 Td (the ) Tj ET Q q 0 0 0 rg BT 489.52 376.80 Td (2017 ) Tj ET Q q 0 0 0 rg BT 507.35 376.80 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 542.51 376.80 Td (Credit ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 367.20 Td (Facility) Tj ET Q q 0 0 0 rg BT 73.42 367.20 Td (, ) Tj ET Q q 0 0 0 rg BT 77.79 367.20 Td (and ) Tj ET Q q 0 0 0 rg BT 91.72 367.20 Td (the ) Tj ET Q q 0 0 0 rg BT 103.87 367.20 Td (Reimbursement ) Tj ET Q q 0 0 0 rg BT 156.37 367.20 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 196.28 367.20 Td (we ) Tj ET Q q 0 0 0 rg BT 207.98 367.20 Td (can ) Tj ET Q q 0 0 0 rg BT 221.46 367.20 Td (incur ) Tj ET Q q 0 0 0 rg BT 240.27 367.20 Td (only ) Tj ET Q q 0 0 0 rg BT 256.86 367.20 Td (limited ) Tj ET Q q 0 0 0 rg BT 281.90 367.20 Td (amounts ) Tj ET Q q 0 0 0 rg BT 311.38 367.20 Td (of ) Tj ET Q q 0 0 0 rg BT 320.42 367.20 Td (additional ) Tj ET Q q 0 0 0 rg BT 354.79 367.20 Td (indebtedness, ) Tj ET Q q 0 0 0 rg BT 400.48 367.20 Td (which ) Tj ET Q q 0 0 0 rg BT 422.41 367.20 Td (includes ) Tj ET Q q 0 0 0 rg BT 451.44 367.20 Td (indebtedness ) Tj ET Q q 0 0 0 rg BT 495.14 367.20 Td (incurred ) Tj ET Q q 0 0 0 rg BT 524.16 367.20 Td (to ) Tj ET Q q 0 0 0 rg BT 532.76 367.20 Td (refinance ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 357.60 Td (existing ) Tj ET Q q 0 0 0 rg BT 76.51 357.60 Td (indebtedness. ) Tj ET Q q 0 0 0 rg BT 121.51 357.60 Td (In ) Tj ET Q q 0 0 0 rg BT 129.85 357.60 Td (addition, ) Tj ET Q q 0 0 0 rg BT 159.74 357.60 Td (the ) Tj ET Q q 0 0 0 rg BT 171.19 357.60 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 207.97 357.60 Td (by ) Tj ET Q q 0 0 0 rg BT 217.53 357.60 Td (T) Tj ET Q q 0 0 0 rg BT 222.13 357.60 Td (ime ) Tj ET Q q 0 0 0 rg BT 235.68 357.60 Td (W) Tj ET Q q 0 0 0 rg BT 242.59 357.60 Td (arner ) Tj ET Q q 0 0 0 rg BT 260.70 357.60 Td (\(or ) Tj ET Q q 0 0 0 rg BT 271.70 357.60 Td (any ) Tj ET Q q 0 0 0 rg BT 284.93 357.60 Td (other ) Tj ET Q q 0 0 0 rg BT 303.04 357.60 Td (person ) Tj ET Q q 0 0 0 rg BT 326.05 357.60 Td (or ) Tj ET Q q 0 0 0 rg BT 334.39 357.60 Td (group ) Tj ET Q q 0 0 0 rg BT 354.73 357.60 Td (\(as ) Tj ET Q q 0 0 0 rg BT 365.73 357.60 Td (such ) Tj ET Q q 0 0 0 rg BT 382.07 357.60 Td (term ) Tj ET Q q 0 0 0 rg BT 398.41 357.60 Td (is ) Tj ET Q q 0 0 0 rg BT 405.42 357.60 Td (defined ) Tj ET Q q 0 0 0 rg BT 431.08 357.60 Td (in ) Tj ET Q q 0 0 0 rg BT 438.98 357.60 Td (Section ) Tj ET Q q 0 0 0 rg BT 464.65 357.60 Td (13\(d\)\(3\) ) Tj ET Q q 0 0 0 rg BT 492.98 357.60 Td (of ) Tj ET Q q 0 0 0 rg BT 501.32 357.60 Td (the ) Tj ET Q q 0 0 0 rg BT 512.77 357.60 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 545.62 357.60 Td (Act\)\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 348.00 Td (of ) Tj ET Q q 0 0 0 rg BT 57.89 348.00 Td (more ) Tj ET Q q 0 0 0 rg BT 76.06 348.00 Td (than ) Tj ET Q q 0 0 0 rg BT 91.56 348.00 Td (50% ) Tj ET Q q 0 0 0 rg BT 107.96 348.00 Td (of ) Tj ET Q q 0 0 0 rg BT 116.35 348.00 Td (our ) Tj ET Q q 0 0 0 rg BT 128.74 348.00 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 167.81 348.00 Td (shares ) Tj ET Q q 0 0 0 rg BT 189.53 348.00 Td (of ) Tj ET Q q 0 0 0 rg BT 197.92 348.00 Td (Class ) Tj ET Q q 0 0 0 rg BT 216.60 348.00 Td (A) Tj ET Q q 0 0 0 rg BT 221.94 348.00 Td ( ) Tj ET Q q 0 0 0 rg BT 223.67 348.00 Td (common ) Tj ET Q q 0 0 0 rg BT 253.40 348.00 Td (stock ) Tj ET Q q 0 0 0 rg BT 272.01 348.00 Td (would ) Tj ET Q q 0 0 0 rg BT 293.74 348.00 Td (constitute ) Tj ET Q q 0 0 0 rg BT 326.58 348.00 Td (a ) Tj ET Q q 0 0 0 rg BT 331.86 348.00 Td (fundamental ) Tj ET Q q 0 0 0 rg BT 373.57 348.00 Td (change ) Tj ET Q q 0 0 0 rg BT 397.95 348.00 Td (under ) Tj ET Q q 0 0 0 rg BT 417.90 348.00 Td (the ) Tj ET Q q 0 0 0 rg BT 429.40 348.00 Td (indenture ) Tj ET Q q 0 0 0 rg BT 461.34 348.00 Td (governing ) Tj ET Q q 0 0 0 rg BT 495.51 348.00 Td (the ) Tj ET Q q 0 0 0 rg BT 507.01 348.00 Td (2015 ) Tj ET Q q 0 0 0 rg BT 524.74 348.00 Td (Convertible ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 338.40 Td (Notes. ) Tj ET Q q 0 0 0 rg BT 72.13 338.40 Td (If ) Tj ET Q q 0 0 0 rg BT 79.43 338.40 Td (such ) Tj ET Q q 0 0 0 rg BT 96.06 338.40 Td (a ) Tj ET Q q 0 0 0 rg BT 101.58 338.40 Td (fundamental ) Tj ET Q q 0 0 0 rg BT 143.53 338.40 Td (change ) Tj ET Q q 0 0 0 rg BT 168.15 338.40 Td (occurs, ) Tj ET Q q 0 0 0 rg BT 193.00 338.40 Td (we ) Tj ET Q q 0 0 0 rg BT 204.29 338.40 Td (would ) Tj ET Q q 0 0 0 rg BT 226.26 338.40 Td (need ) Tj ET Q q 0 0 0 rg BT 243.33 338.40 Td (to ) Tj ET Q q 0 0 0 rg BT 251.52 338.40 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 288.13 338.40 Td (or ) Tj ET Q q 0 0 0 rg BT 296.76 338.40 Td (refinance ) Tj ET Q q 0 0 0 rg BT 328.49 338.40 Td (the ) Tj ET Q q 0 0 0 rg BT 340.23 338.40 Td (2015 ) Tj ET Q q 0 0 0 rg BT 358.20 338.40 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 397.93 338.40 Td (Notes ) Tj ET Q q 0 0 0 rg BT 418.56 338.40 Td (in ) Tj ET Q q 0 0 0 rg BT 426.75 338.40 Td (the ) Tj ET Q q 0 0 0 rg BT 438.50 338.40 Td (event ) Tj ET Q q 0 0 0 rg BT 457.79 338.40 Td (the ) Tj ET Q q 0 0 0 rg BT 469.53 338.40 Td (holders ) Tj ET Q q 0 0 0 rg BT 495.05 338.40 Td (thereof ) Tj ET Q q 0 0 0 rg BT 519.67 338.40 Td (exercise ) Tj ET Q q 0 0 0 rg BT 547.84 338.40 Td (their ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 328.80 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 86.64 328.80 Td (option ) Tj ET Q q 0 0 0 rg BT 109.58 328.80 Td (under ) Tj ET Q q 0 0 0 rg BT 130.30 328.80 Td (the ) Tj ET Q q 0 0 0 rg BT 142.57 328.80 Td (indenture ) Tj ET Q q 0 0 0 rg BT 175.27 328.80 Td (governing ) Tj ET Q q 0 0 0 rg BT 210.21 328.80 Td (the ) Tj ET Q q 0 0 0 rg BT 222.48 328.80 Td (2015 ) Tj ET Q q 0 0 0 rg BT 240.98 328.80 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 281.24 328.80 Td (Notes. ) Tj ET Q q 0 0 0 rg BT 303.85 328.80 Td (As ) Tj ET Q q 0 0 0 rg BT 315.24 328.80 Td (a ) Tj ET Q q 0 0 0 rg BT 321.29 328.80 Td (result, ) Tj ET Q q 0 0 0 rg BT 343.56 328.80 Td (we ) Tj ET Q q 0 0 0 rg BT 355.38 328.80 Td (may ) Tj ET Q q 0 0 0 rg BT 371.65 328.80 Td (not ) Tj ET Q q 0 0 0 rg BT 384.37 328.80 Td (be ) Tj ET Q q 0 0 0 rg BT 394.42 328.80 Td (able ) Tj ET Q q 0 0 0 rg BT 410.24 328.80 Td (to ) Tj ET Q q 0 0 0 rg BT 418.96 328.80 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 456.10 328.80 Td (or ) Tj ET Q q 0 0 0 rg BT 465.27 328.80 Td (refinance ) Tj ET Q q 0 0 0 rg BT 497.52 328.80 Td (our ) Tj ET Q q 0 0 0 rg BT 510.68 328.80 Td (indebtedness ) Tj ET Q q 0 0 0 rg BT 554.50 328.80 Td (on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 319.20 Td (acceptable ) Tj ET Q q 0 0 0 rg BT 85.20 319.20 Td (terms ) Tj ET Q q 0 0 0 rg BT 104.92 319.20 Td (or ) Tj ET Q q 0 0 0 rg BT 113.53 319.20 Td (at ) Tj ET Q q 0 0 0 rg BT 121.25 319.20 Td (all. ) Tj ET Q q 0 0 0 rg BT 133.19 319.20 Td (In ) Tj ET Q q 0 0 0 rg BT 141.80 319.20 Td (the ) Tj ET Q q 0 0 0 rg BT 153.53 319.20 Td (event ) Tj ET Q q 0 0 0 rg BT 172.80 319.20 Td (we ) Tj ET Q q 0 0 0 rg BT 184.07 319.20 Td (are ) Tj ET Q q 0 0 0 rg BT 195.79 319.20 Td (not ) Tj ET Q q 0 0 0 rg BT 207.96 319.20 Td (able ) Tj ET Q q 0 0 0 rg BT 223.23 319.20 Td (to ) Tj ET Q q 0 0 0 rg BT 231.40 319.20 Td (refinance ) Tj ET Q q 0 0 0 rg BT 263.10 319.20 Td (our ) Tj ET Q q 0 0 0 rg BT 275.71 319.20 Td (indebtedness, ) Tj ET Q q 0 0 0 rg BT 320.98 319.20 Td (we ) Tj ET Q q 0 0 0 rg BT 332.26 319.20 Td (might ) Tj ET Q q 0 0 0 rg BT 352.87 319.20 Td (be ) Tj ET Q q 0 0 0 rg BT 362.37 319.20 Td (forced ) Tj ET Q q 0 0 0 rg BT 384.75 319.20 Td (to ) Tj ET Q q 0 0 0 rg BT 392.92 319.20 Td (dispose ) Tj ET Q q 0 0 0 rg BT 418.86 319.20 Td (of ) Tj ET Q q 0 0 0 rg BT 427.47 319.20 Td (assets ) Tj ET Q q 0 0 0 rg BT 448.09 319.20 Td (on ) Tj ET Q q 0 0 0 rg BT 458.03 319.20 Td (disadvantageous ) Tj ET Q q 0 0 0 rg BT 512.86 319.20 Td (terms ) Tj ET Q q 0 0 0 rg BT 532.58 319.20 Td (or ) Tj ET Q q 0 0 0 rg BT 541.19 319.20 Td (reduce ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 309.60 Td (or ) Tj ET Q q 0 0 0 rg BT 58.16 309.60 Td (suspend ) Tj ET Q q 0 0 0 rg BT 85.94 309.60 Td (operations, ) Tj ET Q q 0 0 0 rg BT 123.27 309.60 Td (any ) Tj ET Q q 0 0 0 rg BT 136.82 309.60 Td (of ) Tj ET Q q 0 0 0 rg BT 145.48 309.60 Td (which ) Tj ET Q q 0 0 0 rg BT 167.03 309.60 Td (would ) Tj ET Q q 0 0 0 rg BT 189.03 309.60 Td (materially ) Tj ET Q q 0 0 0 rg BT 223.46 309.60 Td (and ) Tj ET Q q 0 0 0 rg BT 237.01 309.60 Td (adversely ) Tj ET Q q 0 0 0 rg BT 269.66 309.60 Td (af) Tj ET Q q 0 0 0 rg BT 275.73 309.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 289.72 309.60 Td (our ) Tj ET Q q 0 0 0 rg BT 302.39 309.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 332.37 309.60 Td (condition, ) Tj ET Q q 0 0 0 rg BT 366.59 309.60 Td (results ) Tj ET Q q 0 0 0 rg BT 389.48 309.60 Td (of ) Tj ET Q q 0 0 0 rg BT 398.14 309.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 433.46 309.60 Td (and ) Tj ET Q q 0 0 0 rg BT 447.02 309.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 463.23 309.60 Td (flows.) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 289.70 Td (W) Tj ET Q q 0 0 0 rg BT 56.02 289.70 Td (e ) Tj ET Q q 0 0 0 rg BT 61.57 289.70 Td (may ) Tj ET Q q 0 0 0 rg BT 77.34 289.70 Td (be ) Tj ET Q q 0 0 0 rg BT 86.89 289.70 Td (subject ) Tj ET Q q 0 0 0 rg BT 112.00 289.70 Td (to ) Tj ET Q q 0 0 0 rg BT 120.23 289.70 Td (changes ) Tj ET Q q 0 0 0 rg BT 149.34 289.70 Td (in ) Tj ET Q q 0 0 0 rg BT 158.01 289.70 Td (tax ) Tj ET Q q 0 0 0 rg BT 170.23 289.70 Td (rates ) Tj ET Q q 0 0 0 rg BT 188.23 289.70 Td (and ) Tj ET Q q 0 0 0 rg BT 202.68 289.70 Td (exposure ) Tj ET Q q 0 0 0 rg BT 234.46 289.70 Td (to ) Tj ET Q q 0 0 0 rg BT 242.68 289.70 Td (additional ) Tj ET Q q 0 0 0 rg BT 278.02 289.70 Td (tax ) Tj ET Q q 0 0 0 rg BT 290.25 289.70 Td (liabilities.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 274.10 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 274.10 Td (e ) Tj ET Q q 0 0 0 rg BT 61.60 274.10 Td (are ) Tj ET Q q 0 0 0 rg BT 73.00 274.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 97.30 274.10 Td (to ) Tj ET Q q 0 0 0 rg BT 105.16 274.10 Td (taxes ) Tj ET Q q 0 0 0 rg BT 123.23 274.10 Td (in ) Tj ET Q q 0 0 0 rg BT 131.09 274.10 Td (a ) Tj ET Q q 0 0 0 rg BT 136.28 274.10 Td (number ) Tj ET Q q 0 0 0 rg BT 162.35 274.10 Td (of ) Tj ET Q q 0 0 0 rg BT 170.65 274.10 Td (foreign ) Tj ET Q q 0 0 0 rg BT 195.39 274.10 Td (jurisdictions. ) Tj ET Q q 0 0 0 rg BT 238.46 274.10 Td (W) Tj ET Q q 0 0 0 rg BT 245.37 274.10 Td (e ) Tj ET Q q 0 0 0 rg BT 250.56 274.10 Td (are ) Tj ET Q q 0 0 0 rg BT 261.96 274.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 286.26 274.10 Td (to ) Tj ET Q q 0 0 0 rg BT 294.12 274.10 Td (regular ) Tj ET Q q 0 0 0 rg BT 318.41 274.10 Td (review ) Tj ET Q q 0 0 0 rg BT 341.81 274.10 Td (and ) Tj ET Q q 0 0 0 rg BT 355.00 274.10 Td (audit ) Tj ET Q q 0 0 0 rg BT 372.63 274.10 Td (by ) Tj ET Q q 0 0 0 rg BT 382.27 274.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 393.68 274.10 Td (authorities, ) Tj ET Q q 0 0 0 rg BT 431.08 274.10 Td (and ) Tj ET Q q 0 0 0 rg BT 444.27 274.10 Td (in ) Tj ET Q q 0 0 0 rg BT 452.13 274.10 Td (the ) Tj ET Q q 0 0 0 rg BT 463.54 274.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 492.28 274.10 Td (course ) Tj ET Q q 0 0 0 rg BT 514.80 274.10 Td (of ) Tj ET Q q 0 0 0 rg BT 523.10 274.10 Td (our ) Tj ET Q q 0 0 0 rg BT 535.40 274.10 Td (business ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 264.50 Td (there ) Tj ET Q q 0 0 0 rg BT 67.46 264.50 Td (are ) Tj ET Q q 0 0 0 rg BT 79.21 264.50 Td (many ) Tj ET Q q 0 0 0 rg BT 98.96 264.50 Td (transactions ) Tj ET Q q 0 0 0 rg BT 139.14 264.50 Td (and ) Tj ET Q q 0 0 0 rg BT 152.67 264.50 Td (calculations ) Tj ET Q q 0 0 0 rg BT 192.86 264.50 Td (where ) Tj ET Q q 0 0 0 rg BT 214.38 264.50 Td (the ) Tj ET Q q 0 0 0 rg BT 226.13 264.50 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 254.32 264.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 266.07 264.50 Td (determination ) Tj ET Q q 0 0 0 rg BT 312.47 264.50 Td (is ) Tj ET Q q 0 0 0 rg BT 319.79 264.50 Td (uncertain. ) Tj ET Q q 0 0 0 rg BT 353.52 264.50 Td (In ) Tj ET Q q 0 0 0 rg BT 362.16 264.50 Td (that ) Tj ET Q q 0 0 0 rg BT 376.14 264.50 Td (regard, ) Tj ET Q q 0 0 0 rg BT 400.54 264.50 Td (Pro ) Tj ET Q q 0 0 0 rg BT 413.49 264.50 Td (TV) Tj ET Q q 0 0 0 rg BT 424.01 264.50 Td ( ) Tj ET Q q 0 0 0 rg BT 425.99 264.50 Td (and ) Tj ET Q q 0 0 0 rg BT 439.51 264.50 Td (our ) Tj ET Q q 0 0 0 rg BT 452.15 264.50 Td (production ) Tj ET Q q 0 0 0 rg BT 488.79 264.50 Td (services ) Tj ET Q q 0 0 0 rg BT 516.53 264.50 Td (companies ) Tj ET Q q 0 0 0 rg BT 552.72 264.50 Td (SC ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 254.90 Td (Mediapro ) Tj ET Q q 0 0 0 rg BT 83.28 254.90 Td (Studiorile ) Tj ET Q q 0 0 0 rg BT 117.51 254.90 Td (SA) Tj ET Q q 0 0 0 rg BT 127.29 254.90 Td ( ) Tj ET Q q 0 0 0 rg BT 129.97 254.90 Td (\(MPS\), ) Tj ET Q q 0 0 0 rg BT 163.09 254.90 Td (which ) Tj ET Q q 0 0 0 rg BT 185.32 254.90 Td (is ) Tj ET Q q 0 0 0 rg BT 193.33 254.90 Td (classified ) Tj ET Q q 0 0 0 rg BT 226.22 254.90 Td (as ) Tj ET Q q 0 0 0 rg BT 235.56 254.90 Td (a ) Tj ET Q q 0 0 0 rg BT 241.79 254.90 Td (discontinued ) Tj ET Q q 0 0 0 rg BT 285.35 254.90 Td (operation ) Tj ET Q q 0 0 0 rg BT 318.23 254.90 Td (in ) Tj ET Q q 0 0 0 rg BT 327.13 254.90 Td (our ) Tj ET Q q 0 0 0 rg BT 340.47 254.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 371.13 254.90 Td (statements, ) Tj ET Q q 0 0 0 rg BT 409.58 254.90 Td (and ) Tj ET Q q 0 0 0 rg BT 423.81 254.90 Td (SC ) Tj ET Q q 0 0 0 rg BT 436.27 254.90 Td (Media ) Tj ET Q q 0 0 0 rg BT 459.38 254.90 Td (Pro ) Tj ET Q q 0 0 0 rg BT 473.17 254.90 Td (Entertainment ) Tj ET Q q 0 0 0 rg BT 521.17 254.90 Td (Romania ) Tj ET Q q 0 0 0 rg BT 552.73 254.90 Td (SA) Tj ET Q q 0 0 0 rg BT 562.51 254.90 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 245.30 Td (\(MPE\), ) Tj ET Q q 0 0 0 rg BT 82.67 245.30 Td (which ) Tj ET Q q 0 0 0 rg BT 104.50 245.30 Td (has ) Tj ET Q q 0 0 0 rg BT 117.46 245.30 Td (limited ) Tj ET Q q 0 0 0 rg BT 142.41 245.30 Td (trading, ) Tj ET Q q 0 0 0 rg BT 169.35 245.30 Td (are ) Tj ET Q q 0 0 0 rg BT 181.41 245.30 Td (being ) Tj ET Q q 0 0 0 rg BT 201.47 245.30 Td (audited ) Tj ET Q q 0 0 0 rg BT 227.30 245.30 Td (by ) Tj ET Q q 0 0 0 rg BT 237.59 245.30 Td (the ) Tj ET Q q 0 0 0 rg BT 249.65 245.30 Td (Romanian ) Tj ET Q q 0 0 0 rg BT 284.82 245.30 Td (tax ) Tj ET Q q 0 0 0 rg BT 296.88 245.30 Td (authorities, ) Tj ET Q q 0 0 0 rg BT 334.94 245.30 Td (although ) Tj ET Q q 0 0 0 rg BT 365.22 245.30 Td (the ) Tj ET Q q 0 0 0 rg BT 377.28 245.30 Td (tax ) Tj ET Q q 0 0 0 rg BT 389.34 245.30 Td (audits ) Tj ET Q q 0 0 0 rg BT 410.74 245.30 Td (of ) Tj ET Q q 0 0 0 rg BT 419.69 245.30 Td (MPS ) Tj ET Q q 0 0 0 rg BT 437.99 245.30 Td (and ) Tj ET Q q 0 0 0 rg BT 451.82 245.30 Td (MPE ) Tj ET Q q 0 0 0 rg BT 470.56 245.30 Td (have ) Tj ET Q q 0 0 0 rg BT 487.95 245.30 Td (been ) Tj ET Q q 0 0 0 rg BT 505.34 245.30 Td (suspended. ) Tj ET Q q 0 0 0 rg BT 542.45 245.30 Td (At ) Tj ET Q q 0 0 0 rg BT 552.74 245.30 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 235.70 Td (present ) Tj ET Q q 0 0 0 rg BT 74.81 235.70 Td (time ) Tj ET Q q 0 0 0 rg BT 91.23 235.70 Td (we ) Tj ET Q q 0 0 0 rg BT 102.77 235.70 Td (are ) Tj ET Q q 0 0 0 rg BT 114.74 235.70 Td (unable ) Tj ET Q q 0 0 0 rg BT 138.27 235.70 Td (to ) Tj ET Q q 0 0 0 rg BT 146.70 235.70 Td (determine ) Tj ET Q q 0 0 0 rg BT 180.89 235.70 Td (when ) Tj ET Q q 0 0 0 rg BT 200.42 235.70 Td (the ) Tj ET Q q 0 0 0 rg BT 212.40 235.70 Td (Romanian ) Tj ET Q q 0 0 0 rg BT 247.49 235.70 Td (tax ) Tj ET Q q 0 0 0 rg BT 259.47 235.70 Td (authorities ) Tj ET Q q 0 0 0 rg BT 295.45 235.70 Td (will ) Tj ET Q q 0 0 0 rg BT 310.10 235.70 Td (complete ) Tj ET Q q 0 0 0 rg BT 341.62 235.70 Td (their ) Tj ET Q q 0 0 0 rg BT 358.49 235.70 Td (audits ) Tj ET Q q 0 0 0 rg BT 379.80 235.70 Td (or ) Tj ET Q q 0 0 0 rg BT 388.67 235.70 Td (what ) Tj ET Q q 0 0 0 rg BT 406.43 235.70 Td (assessments ) Tj ET Q q 0 0 0 rg BT 447.30 235.70 Td (may ) Tj ET Q q 0 0 0 rg BT 463.28 235.70 Td (be ) Tj ET Q q 0 0 0 rg BT 473.04 235.70 Td (issued, ) Tj ET Q q 0 0 0 rg BT 497.24 235.70 Td (or ) Tj ET Q q 0 0 0 rg BT 506.11 235.70 Td (estimate ) Tj ET Q q 0 0 0 rg BT 534.98 235.70 Td (what ) Tj ET Q q 0 0 0 rg BT 552.73 235.70 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 226.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 75.75 226.10 Td (of ) Tj ET Q q 0 0 0 rg BT 84.66 226.10 Td (any ) Tj ET Q q 0 0 0 rg BT 98.46 226.10 Td (such ) Tj ET Q q 0 0 0 rg BT 115.38 226.10 Td (assessments ) Tj ET Q q 0 0 0 rg BT 156.29 226.10 Td (may ) Tj ET Q q 0 0 0 rg BT 172.32 226.10 Td (be; ) Tj ET Q q 0 0 0 rg BT 184.34 226.10 Td (however) Tj ET Q q 0 0 0 rg BT 211.57 226.10 Td (, ) Tj ET Q q 0 0 0 rg BT 215.82 226.10 Td (it ) Tj ET Q q 0 0 0 rg BT 222.51 226.10 Td (is ) Tj ET Q q 0 0 0 rg BT 230.10 226.10 Td (possible ) Tj ET Q q 0 0 0 rg BT 258.57 226.10 Td (that ) Tj ET Q q 0 0 0 rg BT 272.82 226.10 Td (the ) Tj ET Q q 0 0 0 rg BT 284.84 226.10 Td (authorities ) Tj ET Q q 0 0 0 rg BT 320.87 226.10 Td (may ) Tj ET Q q 0 0 0 rg BT 336.89 226.10 Td (complete ) Tj ET Q q 0 0 0 rg BT 368.46 226.10 Td (their ) Tj ET Q q 0 0 0 rg BT 385.37 226.10 Td (audit ) Tj ET Q q 0 0 0 rg BT 403.62 226.10 Td (of ) Tj ET Q q 0 0 0 rg BT 412.53 226.10 Td (Pro ) Tj ET Q q 0 0 0 rg BT 425.74 226.10 Td (TV) Tj ET Q q 0 0 0 rg BT 436.26 226.10 Td ( ) Tj ET Q q 0 0 0 rg BT 438.51 226.10 Td (during ) Tj ET Q q 0 0 0 rg BT 461.64 226.10 Td (the ) Tj ET Q q 0 0 0 rg BT 473.67 226.10 Td (second ) Tj ET Q q 0 0 0 rg BT 498.13 226.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 523.04 226.10 Td (of ) Tj ET Q q 0 0 0 rg BT 531.95 226.10 Td (2015. ) Tj ET Q q 0 0 0 rg BT 552.04 226.10 Td (W) Tj ET Q q 0 0 0 rg BT 558.95 226.10 Td (e ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 216.50 Td (believe ) Tj ET Q q 0 0 0 rg BT 74.36 216.50 Td (that ) Tj ET Q q 0 0 0 rg BT 88.12 216.50 Td (upon ) Tj ET Q q 0 0 0 rg BT 105.88 216.50 Td (completion ) Tj ET Q q 0 0 0 rg BT 143.63 216.50 Td (of ) Tj ET Q q 0 0 0 rg BT 152.06 216.50 Td (these ) Tj ET Q q 0 0 0 rg BT 170.26 216.50 Td (audits ) Tj ET Q q 0 0 0 rg BT 191.13 216.50 Td (the ) Tj ET Q q 0 0 0 rg BT 202.66 216.50 Td (Romanian ) Tj ET Q q 0 0 0 rg BT 237.31 216.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 248.84 216.50 Td (authorities ) Tj ET Q q 0 0 0 rg BT 284.38 216.50 Td (will ) Tj ET Q q 0 0 0 rg BT 298.58 216.50 Td (assess ) Tj ET Q q 0 0 0 rg BT 319.90 216.50 Td (certain ) Tj ET Q q 0 0 0 rg BT 343.42 216.50 Td (payroll ) Tj ET Q q 0 0 0 rg BT 367.84 216.50 Td (taxes, ) Tj ET Q q 0 0 0 rg BT 388.04 216.50 Td (penalties ) Tj ET Q q 0 0 0 rg BT 418.24 216.50 Td (and ) Tj ET Q q 0 0 0 rg BT 431.55 216.50 Td (interest ) Tj ET Q q 0 0 0 rg BT 456.86 216.50 Td (in ) Tj ET Q q 0 0 0 rg BT 464.84 216.50 Td (respect ) Tj ET Q q 0 0 0 rg BT 489.26 216.50 Td (of ) Tj ET Q q 0 0 0 rg BT 497.68 216.50 Td (the ) Tj ET Q q 0 0 0 rg BT 509.22 216.50 Td (manner ) Tj ET Q q 0 0 0 rg BT 534.97 216.50 Td (in ) Tj ET Q q 0 0 0 rg BT 542.95 216.50 Td (which ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 206.90 Td (individuals ) Tj ET Q q 0 0 0 rg BT 87.19 206.90 Td (retained ) Tj ET Q q 0 0 0 rg BT 115.09 206.90 Td (directly ) Tj ET Q q 0 0 0 rg BT 141.66 206.90 Td (by ) Tj ET Q q 0 0 0 rg BT 151.80 206.90 Td (Pro ) Tj ET Q q 0 0 0 rg BT 164.89 206.90 Td (TV) Tj ET Q q 0 0 0 rg BT 174.53 206.90 Td (, ) Tj ET Q q 0 0 0 rg BT 178.66 206.90 Td (MPS ) Tj ET Q q 0 0 0 rg BT 196.81 206.90 Td (and ) Tj ET Q q 0 0 0 rg BT 210.50 206.90 Td (MPE ) Tj ET Q q 0 0 0 rg BT 229.08 206.90 Td (were ) Tj ET Q q 0 0 0 rg BT 246.76 206.90 Td (engaged ) Tj ET Q q 0 0 0 rg BT 275.55 206.90 Td (and ) Tj ET Q q 0 0 0 rg BT 289.24 206.90 Td (have ) Tj ET Q q 0 0 0 rg BT 306.48 206.90 Td (provided ) Tj ET Q q 0 0 0 rg BT 337.05 206.90 Td (US$ ) Tj ET Q q 0 0 0 rg BT 353.42 206.90 Td (12.0 ) Tj ET Q q 0 0 0 rg BT 369.55 206.90 Td (million ) Tj ET Q q 0 0 0 rg BT 394.80 206.90 Td (in ) Tj ET Q q 0 0 0 rg BT 403.16 206.90 Td (the ) Tj ET Q q 0 0 0 rg BT 415.07 206.90 Td (fourth ) Tj ET Q q 0 0 0 rg BT 436.76 206.90 Td (quarter ) Tj ET Q q 0 0 0 rg BT 461.55 206.90 Td (of ) Tj ET Q q 0 0 0 rg BT 470.35 206.90 Td (2014 ) Tj ET Q q 0 0 0 rg BT 488.49 206.90 Td (for ) Tj ET Q q 0 0 0 rg BT 499.95 206.90 Td (this. ) Tj ET Q q 0 0 0 rg BT 515.65 206.90 Td (It ) Tj ET Q q 0 0 0 rg BT 522.67 206.90 Td (is ) Tj ET Q q 0 0 0 rg BT 530.14 206.90 Td (likely ) Tj ET Q q 0 0 0 rg BT 550.50 206.90 Td (that ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 197.30 Td (additional ) Tj ET Q q 0 0 0 rg BT 83.13 197.30 Td (amounts, ) Tj ET Q q 0 0 0 rg BT 113.87 197.30 Td (which ) Tj ET Q q 0 0 0 rg BT 135.05 197.30 Td (may ) Tj ET Q q 0 0 0 rg BT 150.46 197.30 Td (be ) Tj ET Q q 0 0 0 rg BT 159.64 197.30 Td (material, ) Tj ET Q q 0 0 0 rg BT 189.48 197.30 Td (in ) Tj ET Q q 0 0 0 rg BT 197.34 197.30 Td (respect ) Tj ET Q q 0 0 0 rg BT 221.62 197.30 Td (of ) Tj ET Q q 0 0 0 rg BT 229.92 197.30 Td (additional ) Tj ET Q q 0 0 0 rg BT 263.54 197.30 Td (payroll ) Tj ET Q q 0 0 0 rg BT 287.84 197.30 Td (tax ) Tj ET Q q 0 0 0 rg BT 299.24 197.30 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 330.65 197.30 Td (and ) Tj ET Q q 0 0 0 rg BT 343.83 197.30 Td (non-deductible ) Tj ET Q q 0 0 0 rg BT 393.33 197.30 Td (V) Tj ET Q q 0 0 0 rg BT 398.08 197.30 Td (A) Tj ET Q q 0 0 0 rg BT 402.97 197.30 Td (T) Tj ET Q q 0 0 0 rg BT 407.26 197.30 Td (, ) Tj ET Q q 0 0 0 rg BT 410.89 197.30 Td (plus ) Tj ET Q q 0 0 0 rg BT 425.86 197.30 Td (related ) Tj ET Q q 0 0 0 rg BT 449.26 197.30 Td (interest ) Tj ET Q q 0 0 0 rg BT 474.44 197.30 Td (and ) Tj ET Q q 0 0 0 rg BT 487.62 197.30 Td (penalties, ) Tj ET Q q 0 0 0 rg BT 519.69 197.30 Td (will ) Tj ET Q q 0 0 0 rg BT 533.76 197.30 Td (be ) Tj ET Q q 0 0 0 rg BT 542.95 197.30 Td (levied ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 187.70 Td (by ) Tj ET Q q 0 0 0 rg BT 59.37 187.70 Td (the ) Tj ET Q q 0 0 0 rg BT 71.02 187.70 Td (Romanian ) Tj ET Q q 0 0 0 rg BT 105.77 187.70 Td (tax ) Tj ET Q q 0 0 0 rg BT 117.41 187.70 Td (authorities ) Tj ET Q q 0 0 0 rg BT 153.05 187.70 Td (upon ) Tj ET Q q 0 0 0 rg BT 170.93 187.70 Td (completion ) Tj ET Q q 0 0 0 rg BT 208.79 187.70 Td (of ) Tj ET Q q 0 0 0 rg BT 217.32 187.70 Td (these ) Tj ET Q q 0 0 0 rg BT 235.63 187.70 Td (audits. ) Tj ET Q q 0 0 0 rg BT 258.61 187.70 Td (For ) Tj ET Q q 0 0 0 rg BT 271.60 187.70 Td (additional ) Tj ET Q q 0 0 0 rg BT 305.46 187.70 Td (information ) Tj ET Q q 0 0 0 rg BT 345.10 187.70 Td (see ) Tj ET Q q 0 0 0 rg BT 357.19 187.70 Td (Part ) Tj ET Q q 0 0 0 rg BT 371.95 187.70 Td (II, ) Tj ET Q q 0 0 0 rg BT 381.14 187.70 Td (Item ) Tj ET Q q 0 0 0 rg BT 397.68 187.70 Td (8, ) Tj ET Q q 0 0 0 rg BT 405.55 187.70 Td (Note ) Tj ET Q q 0 0 0 rg BT 422.97 187.70 Td (21 ) Tj ET Q q 0 0 0 rg BT 432.84 187.70 Td (Commitments ) Tj ET Q q 0 0 0 rg BT 483.60 187.70 Td (and ) Tj ET Q q 0 0 0 rg BT 497.02 187.70 Td (Contingencies. ) Tj ET Q q 0 0 0 rg BT 550.08 187.70 Td (The ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 178.10 Td (final ) Tj ET Q q 0 0 0 rg BT 65.92 178.10 Td (determination ) Tj ET Q q 0 0 0 rg BT 112.10 178.10 Td (of ) Tj ET Q q 0 0 0 rg BT 120.52 178.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 132.05 178.10 Td (audits ) Tj ET Q q 0 0 0 rg BT 152.91 178.10 Td (and ) Tj ET Q q 0 0 0 rg BT 166.22 178.10 Td (any ) Tj ET Q q 0 0 0 rg BT 179.52 178.10 Td (related ) Tj ET Q q 0 0 0 rg BT 203.04 178.10 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 243.45 178.10 Td (could ) Tj ET Q q 0 0 0 rg BT 262.97 178.10 Td (be ) Tj ET Q q 0 0 0 rg BT 272.28 178.10 Td (materially ) Tj ET Q q 0 0 0 rg BT 306.46 178.10 Td (dif) Tj ET Q q 0 0 0 rg BT 315.21 178.10 Td (ferent ) Tj ET Q q 0 0 0 rg BT 335.61 178.10 Td (from ) Tj ET Q q 0 0 0 rg BT 352.92 178.10 Td (our ) Tj ET Q q 0 0 0 rg BT 365.34 178.10 Td (historical ) Tj ET Q q 0 0 0 rg BT 396.86 178.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 408.39 178.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 443.48 178.10 Td (and ) Tj ET Q q 0 0 0 rg BT 456.79 178.10 Td (accruals. ) Tj ET Q q 0 0 0 rg BT 486.62 178.10 Td (The ) Tj ET Q q 0 0 0 rg BT 500.81 178.10 Td (results ) Tj ET Q q 0 0 0 rg BT 523.45 178.10 Td (of ) Tj ET Q q 0 0 0 rg BT 531.87 178.10 Td (the ) Tj ET Q q 0 0 0 rg BT 543.40 178.10 Td (audits ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 168.50 Td (of ) Tj ET Q q 0 0 0 rg BT 58.27 168.50 Td (Pro ) Tj ET Q q 0 0 0 rg BT 71.34 168.50 Td (TV) Tj ET Q q 0 0 0 rg BT 81.86 168.50 Td ( ) Tj ET Q q 0 0 0 rg BT 83.97 168.50 Td (and, ) Tj ET Q q 0 0 0 rg BT 99.63 168.50 Td (once ) Tj ET Q q 0 0 0 rg BT 116.84 168.50 Td (the ) Tj ET Q q 0 0 0 rg BT 128.73 168.50 Td (suspensions ) Tj ET Q q 0 0 0 rg BT 169.06 168.50 Td (are ) Tj ET Q q 0 0 0 rg BT 180.94 168.50 Td (lifted, ) Tj ET Q q 0 0 0 rg BT 201.93 168.50 Td (of ) Tj ET Q q 0 0 0 rg BT 210.70 168.50 Td (MPS ) Tj ET Q q 0 0 0 rg BT 228.82 168.50 Td (and ) Tj ET Q q 0 0 0 rg BT 242.48 168.50 Td (MPE, ) Tj ET Q q 0 0 0 rg BT 263.04 168.50 Td (are ) Tj ET Q q 0 0 0 rg BT 274.92 168.50 Td (likely ) Tj ET Q q 0 0 0 rg BT 295.25 168.50 Td (to ) Tj ET Q q 0 0 0 rg BT 303.58 168.50 Td (include ) Tj ET Q q 0 0 0 rg BT 329.23 168.50 Td (additional ) Tj ET Q q 0 0 0 rg BT 363.34 168.50 Td (taxes, ) Tj ET Q q 0 0 0 rg BT 383.88 168.50 Td (fines, ) Tj ET Q q 0 0 0 rg BT 403.54 168.50 Td (interest ) Tj ET Q q 0 0 0 rg BT 429.20 168.50 Td (and ) Tj ET Q q 0 0 0 rg BT 442.86 168.50 Td (other ) Tj ET Q q 0 0 0 rg BT 461.41 168.50 Td (penalties, ) Tj ET Q q 0 0 0 rg BT 493.95 168.50 Td (and ) Tj ET Q q 0 0 0 rg BT 507.61 168.50 Td (may) Tj ET Q q 0 0 0 rg BT 520.86 168.50 Td (, ) Tj ET Q q 0 0 0 rg BT 524.97 168.50 Td (in ) Tj ET Q q 0 0 0 rg BT 533.30 168.50 Td (the ) Tj ET Q q 0 0 0 rg BT 545.19 168.50 Td (event ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 158.90 Td (the ) Tj ET Q q 0 0 0 rg BT 61.27 158.90 Td (tax ) Tj ET Q q 0 0 0 rg BT 73.05 158.90 Td (authority ) Tj ET Q q 0 0 0 rg BT 103.93 158.90 Td (concludes ) Tj ET Q q 0 0 0 rg BT 137.92 158.90 Td (that ) Tj ET Q q 0 0 0 rg BT 151.91 158.90 Td (there ) Tj ET Q q 0 0 0 rg BT 169.90 158.90 Td (is ) Tj ET Q q 0 0 0 rg BT 177.24 158.90 Td (serious ) Tj ET Q q 0 0 0 rg BT 201.90 158.90 Td (misconduct, ) Tj ET Q q 0 0 0 rg BT 242.79 158.90 Td (result ) Tj ET Q q 0 0 0 rg BT 262.56 158.90 Td (in ) Tj ET Q q 0 0 0 rg BT 270.78 158.90 Td (criminal ) Tj ET Q q 0 0 0 rg BT 299.44 158.90 Td (proceedings. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 143.30 Td (Significant ) Tj ET Q q 0 0 0 rg BT 86.72 143.30 Td (judgment ) Tj ET Q q 0 0 0 rg BT 119.06 143.30 Td (is ) Tj ET Q q 0 0 0 rg BT 126.51 143.30 Td (required ) Tj ET Q q 0 0 0 rg BT 155.28 143.30 Td (in ) Tj ET Q q 0 0 0 rg BT 163.62 143.30 Td (determining ) Tj ET Q q 0 0 0 rg BT 204.39 143.30 Td (our ) Tj ET Q q 0 0 0 rg BT 217.18 143.30 Td (provision ) Tj ET Q q 0 0 0 rg BT 249.52 143.30 Td (for ) Tj ET Q q 0 0 0 rg BT 260.96 143.30 Td (taxes. ) Tj ET Q q 0 0 0 rg BT 281.52 143.30 Td (Economic ) Tj ET Q q 0 0 0 rg BT 316.07 143.30 Td (and ) Tj ET Q q 0 0 0 rg BT 329.73 143.30 Td (political ) Tj ET Q q 0 0 0 rg BT 358.07 143.30 Td (pressures ) Tj ET Q q 0 0 0 rg BT 389.95 143.30 Td (to ) Tj ET Q q 0 0 0 rg BT 398.29 143.30 Td (increase ) Tj ET Q q 0 0 0 rg BT 426.61 143.30 Td (receipts ) Tj ET Q q 0 0 0 rg BT 453.61 143.30 Td (in ) Tj ET Q q 0 0 0 rg BT 461.95 143.30 Td (various ) Tj ET Q q 0 0 0 rg BT 487.61 143.30 Td (jurisdictions ) Tj ET Q q 0 0 0 rg BT 529.29 143.30 Td (may ) Tj ET Q q 0 0 0 rg BT 545.18 143.30 Td (make ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 133.70 Td (taxation ) Tj ET Q q 0 0 0 rg BT 77.28 133.70 Td (and ) Tj ET Q q 0 0 0 rg BT 90.83 133.70 Td (tax ) Tj ET Q q 0 0 0 rg BT 102.61 133.70 Td (rates ) Tj ET Q q 0 0 0 rg BT 119.72 133.70 Td (subject ) Tj ET Q q 0 0 0 rg BT 144.38 133.70 Td (to ) Tj ET Q q 0 0 0 rg BT 152.61 133.70 Td (significant ) Tj ET Q q 0 0 0 rg BT 188.39 133.70 Td (change ) Tj ET Q q 0 0 0 rg BT 213.05 133.70 Td (and ) Tj ET Q q 0 0 0 rg BT 226.60 133.70 Td (the ) Tj ET Q q 0 0 0 rg BT 238.38 133.70 Td (satisfactory ) Tj ET Q q 0 0 0 rg BT 277.26 133.70 Td (resolution ) Tj ET Q q 0 0 0 rg BT 311.27 133.70 Td (of ) Tj ET Q q 0 0 0 rg BT 319.94 133.70 Td (any ) Tj ET Q q 0 0 0 rg BT 333.49 133.70 Td (tax ) Tj ET Q q 0 0 0 rg BT 345.27 133.70 Td (disputes ) Tj ET Q q 0 0 0 rg BT 373.50 133.70 Td (more ) Tj ET Q q 0 0 0 rg BT 391.94 133.70 Td (dif) Tj ET Q q 0 0 0 rg BT 400.69 133.70 Td (ficult. ) Tj ET Q q 0 0 0 rg BT 421.43 133.70 Td (The ) Tj ET Q q 0 0 0 rg BT 435.87 133.70 Td (occurrence ) Tj ET Q q 0 0 0 rg BT 472.96 133.70 Td (of ) Tj ET Q q 0 0 0 rg BT 481.63 133.70 Td (any ) Tj ET Q q 0 0 0 rg BT 495.19 133.70 Td (of ) Tj ET Q q 0 0 0 rg BT 503.86 133.70 Td (these ) Tj ET Q q 0 0 0 rg BT 522.30 133.70 Td (events ) Tj ET Q q 0 0 0 rg BT 544.74 133.70 Td (could ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 124.10 Td (have ) Tj ET Q q 0 0 0 rg BT 66.60 124.10 Td (a ) Tj ET Q q 0 0 0 rg BT 72.15 124.10 Td (material ) Tj ET Q q 0 0 0 rg BT 100.36 124.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 126.79 124.10 Td (ef) Tj ET Q q 0 0 0 rg BT 132.86 124.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 146.85 124.10 Td (on ) Tj ET Q q 0 0 0 rg BT 156.85 124.10 Td (our ) Tj ET Q q 0 0 0 rg BT 169.51 124.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 199.50 124.10 Td (position, ) Tj ET Q q 0 0 0 rg BT 229.28 124.10 Td (results ) Tj ET Q q 0 0 0 rg BT 252.16 124.10 Td (of ) Tj ET Q q 0 0 0 rg BT 260.83 124.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 296.15 124.10 Td (and ) Tj ET Q q 0 0 0 rg BT 309.70 124.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 325.92 124.10 Td (flows.) Tj ET Q endstream endobj 27 0 obj <>] /Rotate 0 /Contents 28 0 R>> endobj 28 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.10 35.00 Td (1) Tj ET Q q 0 0 0 rg BT 305.80 35.00 Td (1) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 723.60 Td (There ) Tj ET Q q 0 0 0 rg BT 71.05 723.60 Td (is ) Tj ET Q q 0 0 0 rg BT 78.39 723.60 Td (uncertainty ) Tj ET Q q 0 0 0 rg BT 118.17 723.60 Td (regarding ) Tj ET Q q 0 0 0 rg BT 152.62 723.60 Td (our ) Tj ET Q q 0 0 0 rg BT 166.18 723.60 Td (ability ) Tj ET Q q 0 0 0 rg BT 188.62 723.60 Td (to ) Tj ET Q q 0 0 0 rg BT 196.84 723.60 Td (continue ) Tj ET Q q 0 0 0 rg BT 227.74 723.60 Td (as ) Tj ET Q q 0 0 0 rg BT 236.85 723.60 Td (a ) Tj ET Q q 0 0 0 rg BT 242.85 723.60 Td (going ) Tj ET Q q 0 0 0 rg BT 263.52 723.60 Td (concern. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 708.00 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 708.00 Td (e ) Tj ET Q q 0 0 0 rg BT 62.80 708.00 Td (expect ) Tj ET Q q 0 0 0 rg BT 86.51 708.00 Td (that ) Tj ET Q q 0 0 0 rg BT 101.35 708.00 Td (our ) Tj ET Q q 0 0 0 rg BT 114.85 708.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 131.90 708.00 Td (flows ) Tj ET Q q 0 0 0 rg BT 152.52 708.00 Td (from ) Tj ET Q q 0 0 0 rg BT 170.90 708.00 Td (operating ) Tj ET Q q 0 0 0 rg BT 203.95 708.00 Td (activities ) Tj ET Q q 0 0 0 rg BT 235.67 708.00 Td (will ) Tj ET Q q 0 0 0 rg BT 250.95 708.00 Td (continue ) Tj ET Q q 0 0 0 rg BT 281.34 708.00 Td (to ) Tj ET Q q 0 0 0 rg BT 290.40 708.00 Td (be ) Tj ET Q q 0 0 0 rg BT 300.79 708.00 Td (insuf) Tj ET Q q 0 0 0 rg BT 316.64 708.00 Td (ficient ) Tj ET Q q 0 0 0 rg BT 339.91 708.00 Td (to ) Tj ET Q q 0 0 0 rg BT 348.97 708.00 Td (cover ) Tj ET Q q 0 0 0 rg BT 369.58 708.00 Td (operating ) Tj ET Q q 0 0 0 rg BT 402.63 708.00 Td (expenses ) Tj ET Q q 0 0 0 rg BT 434.34 708.00 Td (and ) Tj ET Q q 0 0 0 rg BT 448.73 708.00 Td (debt ) Tj ET Q q 0 0 0 rg BT 465.34 708.00 Td (service ) Tj ET Q q 0 0 0 rg BT 490.83 708.00 Td (obligations. ) Tj ET Q q 0 0 0 rg BT 531.23 708.00 Td (Our ) Tj ET Q q 0 0 0 rg BT 546.51 708.00 Td (2015 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 698.40 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 89.70 698.40 Td (Notes ) Tj ET Q q 0 0 0 rg BT 110.79 698.40 Td (mature ) Tj ET Q q 0 0 0 rg BT 135.44 698.40 Td (on ) Tj ET Q q 0 0 0 rg BT 145.87 698.40 Td (November ) Tj ET Q q 0 0 0 rg BT 182.06 698.40 Td (15, ) Tj ET Q q 0 0 0 rg BT 194.49 698.40 Td (2015. ) Tj ET Q q 0 0 0 rg BT 214.75 698.40 Td (W) Tj ET Q q 0 0 0 rg BT 221.66 698.40 Td (e ) Tj ET Q q 0 0 0 rg BT 227.64 698.40 Td (have ) Tj ET Q q 0 0 0 rg BT 245.17 698.40 Td (entered ) Tj ET Q q 0 0 0 rg BT 271.14 698.40 Td (into ) Tj ET Q q 0 0 0 rg BT 286.02 698.40 Td (the ) Tj ET Q q 0 0 0 rg BT 298.22 698.40 Td (2015 ) Tj ET Q q 0 0 0 rg BT 316.65 698.40 Td (Refinancing ) Tj ET Q q 0 0 0 rg BT 358.18 698.40 Td (Commitment ) Tj ET Q q 0 0 0 rg BT 402.83 698.40 Td (Letter ) Tj ET Q q 0 0 0 rg BT 424.36 698.40 Td (with ) Tj ET Q q 0 0 0 rg BT 440.84 698.40 Td (T) Tj ET Q q 0 0 0 rg BT 445.45 698.40 Td (ime ) Tj ET Q q 0 0 0 rg BT 459.70 698.40 Td (W) Tj ET Q q 0 0 0 rg BT 466.61 698.40 Td (arner ) Tj ET Q q 0 0 0 rg BT 485.47 698.40 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 515.45 698.40 Td (to ) Tj ET Q q 0 0 0 rg BT 524.10 698.40 Td (which ) Tj ET Q q 0 0 0 rg BT 545.91 698.40 Td (T) Tj ET Q q 0 0 0 rg BT 550.51 698.40 Td (ime ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 688.80 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 688.80 Td (arner ) Tj ET Q q 0 0 0 rg BT 74.69 688.80 Td (has ) Tj ET Q q 0 0 0 rg BT 87.20 688.80 Td (committed ) Tj ET Q q 0 0 0 rg BT 123.26 688.80 Td (to ) Tj ET Q q 0 0 0 rg BT 131.33 688.80 Td (provide ) Tj ET Q q 0 0 0 rg BT 157.61 688.80 Td (or ) Tj ET Q q 0 0 0 rg BT 166.12 688.80 Td (assist ) Tj ET Q q 0 0 0 rg BT 185.31 688.80 Td (with ) Tj ET Q q 0 0 0 rg BT 201.38 688.80 Td (arranging ) Tj ET Q q 0 0 0 rg BT 233.87 688.80 Td (a ) Tj ET Q q 0 0 0 rg BT 239.27 688.80 Td (replacement ) Tj ET Q q 0 0 0 rg BT 280.20 688.80 Td (facility ) Tj ET Q q 0 0 0 rg BT 304.71 688.80 Td (to ) Tj ET Q q 0 0 0 rg BT 312.78 688.80 Td (refinance ) Tj ET Q q 0 0 0 rg BT 344.38 688.80 Td (the ) Tj ET Q q 0 0 0 rg BT 356.00 688.80 Td (2015 ) Tj ET Q q 0 0 0 rg BT 373.84 688.80 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 413.46 688.80 Td (Notes ) Tj ET Q q 0 0 0 rg BT 433.97 688.80 Td (at ) Tj ET Q q 0 0 0 rg BT 441.59 688.80 Td (or ) Tj ET Q q 0 0 0 rg BT 450.10 688.80 Td (immediately ) Tj ET Q q 0 0 0 rg BT 491.94 688.80 Td (prior ) Tj ET Q q 0 0 0 rg BT 509.33 688.80 Td (to ) Tj ET Q q 0 0 0 rg BT 517.40 688.80 Td (their ) Tj ET Q q 0 0 0 rg BT 533.91 688.80 Td (maturity) Tj ET Q q 0 0 0 rg BT 560.50 688.80 Td (. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 679.20 Td (Once ) Tj ET Q q 0 0 0 rg BT 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(continue ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 669.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 81.41 669.60 Td (as ) Tj ET Q q 0 0 0 rg BT 89.78 669.60 Td (a ) Tj ET Q q 0 0 0 rg BT 95.04 669.60 Td (going ) Tj ET Q q 0 0 0 rg BT 114.96 669.60 Td (concern ) Tj ET Q q 0 0 0 rg BT 141.98 669.60 Td (for ) Tj ET Q q 0 0 0 rg BT 153.01 669.60 Td (the ) Tj ET Q q 0 0 0 rg BT 164.49 669.60 Td (foreseeable ) Tj ET Q q 0 0 0 rg BT 202.61 669.60 Td (future, ) Tj ET Q q 0 0 0 rg BT 225.41 669.60 Td (however ) Tj ET Q q 0 0 0 rg BT 254.66 669.60 Td (funding ) Tj ET Q q 0 0 0 rg BT 281.25 669.60 Td (of ) Tj ET Q q 0 0 0 rg BT 289.62 669.60 Td (the ) Tj ET Q q 0 0 0 rg BT 301.09 669.60 Td (transaction ) Tj ET Q q 0 0 0 rg BT 337.89 669.60 Td (is ) Tj ET Q q 0 0 0 rg BT 344.93 669.60 Td (subject ) Tj ET Q q 0 0 0 rg BT 369.30 669.60 Td (to ) Tj ET Q q 0 0 0 rg BT 377.22 669.60 Td (customary ) Tj ET Q q 0 0 0 rg BT 412.25 669.60 Td (closing ) Tj ET Q q 0 0 0 rg BT 437.06 669.60 Td (conditions ) Tj ET Q q 0 0 0 rg BT 472.10 669.60 Td (\(including ) Tj ET Q q 0 0 0 rg BT 506.68 669.60 Td (the ) Tj ET Q q 0 0 0 rg BT 518.16 669.60 Td (execution ) Tj ET Q q 0 0 0 rg BT 550.96 669.60 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 660.00 Td (delivery ) Tj ET Q q 0 0 0 rg BT 77.98 660.00 Td (of ) Tj ET Q q 0 0 0 rg BT 86.91 660.00 Td (documentation, ) Tj ET Q q 0 0 0 rg BT 138.72 660.00 Td (the ) Tj ET Q q 0 0 0 rg BT 150.76 660.00 Td (accuracy ) Tj ET Q q 0 0 0 rg BT 181.44 660.00 Td (of ) Tj ET Q q 0 0 0 rg BT 190.37 660.00 Td (representations, ) Tj ET Q q 0 0 0 rg BT 243.07 660.00 Td (the ) Tj ET Q q 0 0 0 rg BT 255.11 660.00 Td (absence ) Tj ET Q q 0 0 0 rg BT 282.69 660.00 Td (of ) Tj ET Q q 0 0 0 rg BT 291.62 660.00 Td (events ) Tj ET Q q 0 0 0 rg BT 314.32 660.00 Td (of ) Tj ET Q q 0 0 0 rg BT 323.25 660.00 Td (default ) Tj ET Q q 0 0 0 rg BT 347.73 660.00 Td (and ) Tj ET Q q 0 0 0 rg BT 361.55 660.00 Td (the ) Tj ET Q q 0 0 0 rg BT 373.59 660.00 Td (absence ) Tj ET Q q 0 0 0 rg BT 401.17 660.00 Td (of ) Tj ET Q q 0 0 0 rg BT 410.10 660.00 Td (material ) Tj ET Q q 0 0 0 rg BT 438.58 660.00 Td (adverse ) Tj ET Q q 0 0 0 rg BT 465.27 660.00 Td (changes\), ) Tj ET Q q 0 0 0 rg BT 497.97 660.00 Td (certain ) Tj ET Q q 0 0 0 rg BT 522.00 660.00 Td (of ) Tj ET Q q 0 0 0 rg BT 530.93 660.00 Td (which ) Tj ET Q q 0 0 0 rg BT 552.75 660.00 Td (are ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 650.40 Td (outside ) Tj ET Q q 0 0 0 rg BT 74.05 650.40 Td (our ) Tj ET Q q 0 0 0 rg BT 86.15 650.40 Td (direct ) Tj ET Q q 0 0 0 rg BT 105.80 650.40 Td (control. ) Tj ET Q q 0 0 0 rg BT 131.58 650.40 Td (As ) Tj ET Q q 0 0 0 rg BT 141.91 650.40 Td (a ) Tj ET Q q 0 0 0 rg BT 146.89 650.40 Td (result, ) Tj ET Q q 0 0 0 rg BT 168.10 650.40 Td (the ) Tj ET Q q 0 0 0 rg BT 179.32 650.40 Td (report ) Tj ET Q q 0 0 0 rg BT 199.85 650.40 Td (of ) Tj ET Q q 0 0 0 rg BT 207.96 650.40 Td (our ) Tj ET Q q 0 0 0 rg BT 220.06 650.40 Td (independent ) Tj ET Q q 0 0 0 rg BT 260.59 650.40 Td (registered ) Tj ET Q q 0 0 0 rg BT 293.57 650.40 Td (public ) Tj ET Q q 0 0 0 rg BT 315.00 650.40 Td (accounting ) Tj ET Q q 0 0 0 rg BT 351.54 650.40 Td (firm ) Tj ET Q q 0 0 0 rg BT 366.75 650.40 Td (for ) Tj ET Q q 0 0 0 rg BT 377.51 650.40 Td (the ) Tj ET Q q 0 0 0 rg BT 388.73 650.40 Td (year ) Tj ET Q q 0 0 0 rg BT 403.93 650.40 Td (ended ) Tj ET Q q 0 0 0 rg BT 424.47 650.40 Td (December ) Tj ET Q q 0 0 0 rg BT 458.77 650.40 Td (31, ) Tj ET Q q 0 0 0 rg BT 470.21 650.40 Td (2014 ) Tj ET Q q 0 0 0 rg BT 487.65 650.40 Td (contains ) Tj ET Q q 0 0 0 rg BT 515.75 650.40 Td (an ) Tj ET Q q 0 0 0 rg BT 524.73 650.40 Td (explanatory ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 640.80 Td (paragraph ) Tj ET Q q 0 0 0 rg BT 84.17 640.80 Td (relating ) Tj ET Q q 0 0 0 rg BT 111.29 640.80 Td (to ) Tj ET Q q 0 0 0 rg BT 120.20 640.80 Td (our ) Tj ET Q q 0 0 0 rg BT 133.55 640.80 Td (ability ) Tj ET Q q 0 0 0 rg BT 156.68 640.80 Td (to ) Tj ET Q q 0 0 0 rg BT 165.59 640.80 Td (continue ) Tj ET Q q 0 0 0 rg BT 195.82 640.80 Td (as ) Tj ET Q q 0 0 0 rg BT 205.18 640.80 Td (a ) Tj ET Q q 0 0 0 rg BT 211.41 640.80 Td (going ) Tj ET Q q 0 0 0 rg BT 232.32 640.80 Td (concern. ) Tj ET Q q 0 0 0 rg BT 262.33 640.80 Td (If ) Tj ET Q q 0 0 0 rg BT 270.34 640.80 Td (the ) Tj ET Q q 0 0 0 rg BT 282.80 640.80 Td (financing ) Tj ET Q q 0 0 0 rg BT 315.70 640.80 Td (arrangements ) Tj ET Q q 0 0 0 rg BT 361.48 640.80 Td (set ) Tj ET Q q 0 0 0 rg BT 373.05 640.80 Td (forth ) Tj ET Q q 0 0 0 rg BT 391.29 640.80 Td (in ) Tj ET Q q 0 0 0 rg BT 400.20 640.80 Td (the ) Tj ET Q q 0 0 0 rg BT 412.66 640.80 Td (2015 ) Tj ET Q q 0 0 0 rg BT 431.35 640.80 Td (Refinancing ) Tj ET Q q 0 0 0 rg BT 473.14 640.80 Td (Commitment ) Tj ET Q q 0 0 0 rg BT 518.05 640.80 Td (Letter ) Tj ET Q q 0 0 0 rg BT 539.83 640.80 Td (are ) Tj ET Q q 0 0 0 rg BT 552.29 640.80 Td (not ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 631.20 Td (completed ) Tj ET Q q 0 0 0 rg BT 84.82 631.20 Td (and ) Tj ET Q q 0 0 0 rg BT 98.37 631.20 Td (we ) Tj ET Q q 0 0 0 rg BT 109.70 631.20 Td (are ) Tj ET Q q 0 0 0 rg BT 121.46 631.20 Td (unable ) Tj ET Q q 0 0 0 rg BT 144.79 631.20 Td (to ) Tj ET Q q 0 0 0 rg BT 153.01 631.20 Td (secure ) Tj ET Q q 0 0 0 rg BT 175.44 631.20 Td (additional ) Tj ET Q q 0 0 0 rg BT 209.43 631.20 Td (financing, ) Tj ET Q q 0 0 0 rg BT 243.64 631.20 Td (we ) Tj ET Q q 0 0 0 rg BT 254.97 631.20 Td (will ) Tj ET Q q 0 0 0 rg BT 269.42 631.20 Td (be ) Tj ET Q q 0 0 0 rg BT 278.97 631.20 Td (unable ) Tj ET Q q 0 0 0 rg BT 302.29 631.20 Td (to ) Tj ET Q q 0 0 0 rg BT 310.52 631.20 Td (meet ) Tj ET Q q 0 0 0 rg BT 328.06 631.20 Td (our ) Tj ET Q q 0 0 0 rg BT 340.73 631.20 Td (repayment ) Tj ET Q q 0 0 0 rg BT 376.49 631.20 Td (obligation ) Tj ET Q q 0 0 0 rg BT 410.93 631.20 Td (when ) Tj ET Q q 0 0 0 rg BT 430.26 631.20 Td (the ) Tj ET Q q 0 0 0 rg BT 442.03 631.20 Td (2015 ) Tj ET Q q 0 0 0 rg BT 460.03 631.20 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 499.80 631.20 Td (Notes ) Tj ET Q q 0 0 0 rg BT 520.46 631.20 Td (mature.) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 615.60 Td (A) Tj ET Q q 0 0 0 rg BT 54.39 615.60 Td ( ) Tj ET Q q 0 0 0 rg BT 56.39 615.60 Td (default ) Tj ET Q q 0 0 0 rg BT 81.50 615.60 Td (by ) Tj ET Q q 0 0 0 rg BT 91.05 615.60 Td (us ) Tj ET Q q 0 0 0 rg BT 100.62 615.60 Td (in ) Tj ET Q q 0 0 0 rg BT 109.29 615.60 Td (connection ) Tj ET Q q 0 0 0 rg BT 147.73 615.60 Td (with ) Tj ET Q q 0 0 0 rg BT 163.96 615.60 Td (our ) Tj ET Q q 0 0 0 rg BT 177.53 615.60 Td (obligations ) Tj ET Q q 0 0 0 rg BT 215.98 615.60 Td (under ) Tj ET Q q 0 0 0 rg BT 237.54 615.60 Td (our ) Tj ET Q q 0 0 0 rg BT 251.11 615.60 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 292.23 615.60 Td (indebtedness ) Tj ET Q q 0 0 0 rg BT 336.46 615.60 Td (could ) Tj ET Q q 0 0 0 rg BT 356.68 615.60 Td (result ) Tj ET Q q 0 0 0 rg BT 377.35 615.60 Td (in ) Tj ET Q q 0 0 0 rg BT 386.02 615.60 Td (our ) Tj ET Q q 0 0 0 rg BT 399.59 615.60 Td (inability ) Tj ET Q q 0 0 0 rg BT 428.70 615.60 Td (to ) Tj ET Q q 0 0 0 rg BT 436.92 615.60 Td (continue ) Tj ET Q q 0 0 0 rg BT 467.82 615.60 Td (to ) Tj ET Q q 0 0 0 rg BT 476.04 615.60 Td (conduct ) Tj ET Q q 0 0 0 rg BT 504.26 615.60 Td (our ) Tj ET Q q 0 0 0 rg BT 517.82 615.60 Td (business.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 600.00 Td (Pursuant ) Tj ET Q q 0 0 0 rg BT 79.79 600.00 Td (to ) Tj ET Q q 0 0 0 rg BT 88.30 600.00 Td (the ) Tj ET Q q 0 0 0 rg BT 100.36 600.00 Td (terms ) Tj ET Q q 0 0 0 rg BT 120.42 600.00 Td (of ) Tj ET Q q 0 0 0 rg BT 129.37 600.00 Td (the ) Tj ET Q q 0 0 0 rg BT 141.43 600.00 Td (indentures ) Tj ET Q q 0 0 0 rg BT 177.04 600.00 Td (governing ) Tj ET Q q 0 0 0 rg BT 211.77 600.00 Td (the ) Tj ET Q q 0 0 0 rg BT 223.83 600.00 Td (2015 ) Tj ET Q q 0 0 0 rg BT 242.11 600.00 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 282.17 600.00 Td (Notes ) Tj ET Q q 0 0 0 rg BT 303.12 600.00 Td (and ) Tj ET Q q 0 0 0 rg BT 316.96 600.00 Td (the ) Tj ET Q q 0 0 0 rg BT 329.02 600.00 Td (2017 ) Tj ET Q q 0 0 0 rg BT 347.31 600.00 Td (PIK ) Tj ET Q q 0 0 0 rg BT 362.48 600.00 Td (Notes ) Tj ET Q q 0 0 0 rg BT 383.44 600.00 Td (and ) Tj ET Q q 0 0 0 rg BT 397.27 600.00 Td (the ) Tj ET Q q 0 0 0 rg BT 409.33 600.00 Td (agreements ) Tj ET Q q 0 0 0 rg BT 448.05 600.00 Td (governing ) Tj ET Q q 0 0 0 rg BT 482.77 600.00 Td (the ) Tj ET Q q 0 0 0 rg BT 494.83 600.00 Td (2017 ) Tj ET Q q 0 0 0 rg BT 512.95 600.00 Td (T) Tj ET Q q 0 0 0 rg BT 517.28 600.00 Td (erm ) Tj ET Q q 0 0 0 rg BT 532.01 600.00 Td (Loan, ) Tj ET Q q 0 0 0 rg BT 552.73 600.00 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 590.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 67.40 590.40 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 102.63 590.40 Td (Credit ) Tj ET Q q 0 0 0 rg BT 124.53 590.40 Td (Facility ) Tj ET Q q 0 0 0 rg BT 150.87 590.40 Td (and ) Tj ET Q q 0 0 0 rg BT 164.32 590.40 Td (the ) Tj ET Q q 0 0 0 rg BT 176.00 590.40 Td (Reimbursement ) Tj ET Q q 0 0 0 rg BT 228.13 590.40 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 267.57 590.40 Td (we ) Tj ET Q q 0 0 0 rg BT 278.80 590.40 Td (pledged ) Tj ET Q q 0 0 0 rg BT 306.03 590.40 Td (all ) Tj ET Q q 0 0 0 rg BT 315.92 590.40 Td (of ) Tj ET Q q 0 0 0 rg BT 324.49 590.40 Td (the ) Tj ET Q q 0 0 0 rg BT 336.16 590.40 Td (shares ) Tj ET Q q 0 0 0 rg BT 358.05 590.40 Td (of ) Tj ET Q q 0 0 0 rg BT 366.62 590.40 Td (Central ) Tj ET Q q 0 0 0 rg BT 392.06 590.40 Td (European ) Tj ET Q q 0 0 0 rg BT 424.62 590.40 Td (Media ) Tj ET Q q 0 0 0 rg BT 446.96 590.40 Td (Enterprises ) Tj ET Q q 0 0 0 rg BT 484.84 590.40 Td (B.V) Tj ET Q q 0 0 0 rg BT 496.93 590.40 Td (. ) Tj ET Q q 0 0 0 rg BT 500.83 590.40 Td (and ) Tj ET Q q 0 0 0 rg BT 514.28 590.40 Td (of ) Tj ET Q q 0 0 0 rg BT 522.84 590.40 Td (CME ) Tj ET Q q 0 0 0 rg BT 542.08 590.40 Td (Media ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 580.80 Td (Enterprises ) Tj ET Q q 0 0 0 rg BT 88.32 580.80 Td (B.V) Tj ET Q q 0 0 0 rg BT 100.40 580.80 Td (., ) Tj ET Q q 0 0 0 rg BT 107.23 580.80 Td (which ) Tj ET Q q 0 0 0 rg BT 129.61 580.80 Td (together ) Tj ET Q q 0 0 0 rg BT 158.64 580.80 Td (own ) Tj ET Q q 0 0 0 rg BT 175.25 580.80 Td (substantially ) Tj ET Q q 0 0 0 rg BT 218.52 580.80 Td (all ) Tj ET Q q 0 0 0 rg BT 229.34 580.80 Td (of ) Tj ET Q q 0 0 0 rg BT 238.84 580.80 Td (the ) Tj ET Q q 0 0 0 rg BT 251.44 580.80 Td (interests ) Tj ET Q q 0 0 0 rg BT 280.93 580.80 Td (in ) Tj ET Q q 0 0 0 rg BT 289.98 580.80 Td (our ) Tj ET Q q 0 0 0 rg BT 303.47 580.80 Td (operating ) Tj ET Q q 0 0 0 rg BT 336.51 580.80 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 379.11 580.80 Td (as ) Tj ET Q q 0 0 0 rg BT 388.60 580.80 Td (security ) Tj ET Q q 0 0 0 rg BT 416.75 580.80 Td (for ) Tj ET Q q 0 0 0 rg BT 428.91 580.80 Td (this ) Tj ET Q q 0 0 0 rg BT 443.30 580.80 Td (indebtedness. ) Tj ET Q q 0 0 0 rg BT 489.45 580.80 Td (If ) Tj ET Q q 0 0 0 rg BT 497.61 580.80 Td (we ) Tj ET Q q 0 0 0 rg BT 509.76 580.80 Td (or ) Tj ET Q q 0 0 0 rg BT 519.25 580.80 Td (our ) Tj ET Q q 0 0 0 rg BT 532.75 580.80 Td (restricted ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 571.20 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 89.02 571.20 Td (were ) Tj ET Q q 0 0 0 rg BT 106.30 571.20 Td (to ) Tj ET Q q 0 0 0 rg BT 114.27 571.20 Td (default ) Tj ET Q q 0 0 0 rg BT 138.23 571.20 Td (under ) Tj ET Q q 0 0 0 rg BT 158.19 571.20 Td (the ) Tj ET Q q 0 0 0 rg BT 169.70 571.20 Td (terms ) Tj ET Q q 0 0 0 rg BT 189.22 571.20 Td (of ) Tj ET Q q 0 0 0 rg BT 197.63 571.20 Td (any ) Tj ET Q q 0 0 0 rg BT 210.92 571.20 Td (of ) Tj ET Q q 0 0 0 rg BT 219.33 571.20 Td (the ) Tj ET Q q 0 0 0 rg BT 230.85 571.20 Td (relevant ) Tj ET Q q 0 0 0 rg BT 258.36 571.20 Td (indentures ) Tj ET Q q 0 0 0 rg BT 293.42 571.20 Td (or ) Tj ET Q q 0 0 0 rg BT 301.83 571.20 Td (agreements, ) Tj ET Q q 0 0 0 rg BT 342.00 571.20 Td (the ) Tj ET Q q 0 0 0 rg BT 353.52 571.20 Td (secured ) Tj ET Q q 0 0 0 rg BT 379.69 571.20 Td (parties ) Tj ET Q q 0 0 0 rg BT 402.76 571.20 Td (under ) Tj ET Q q 0 0 0 rg BT 422.72 571.20 Td (such ) Tj ET Q q 0 0 0 rg BT 439.13 571.20 Td (indentures ) Tj ET Q q 0 0 0 rg BT 474.20 571.20 Td (and ) Tj ET Q q 0 0 0 rg BT 487.49 571.20 Td (agreements ) Tj ET Q q 0 0 0 rg BT 525.66 571.20 Td (would ) Tj ET Q q 0 0 0 rg BT 547.41 571.20 Td (have ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 561.60 Td (the ) Tj ET Q q 0 0 0 rg BT 61.17 561.60 Td (ability ) Tj ET Q q 0 0 0 rg BT 83.51 561.60 Td (to ) Tj ET Q q 0 0 0 rg BT 91.63 561.60 Td (sell ) Tj ET Q q 0 0 0 rg BT 104.63 561.60 Td (all ) Tj ET Q q 0 0 0 rg BT 114.53 561.60 Td (or ) Tj ET Q q 0 0 0 rg BT 123.09 561.60 Td (a ) Tj ET Q q 0 0 0 rg BT 128.53 561.60 Td (portion ) Tj ET Q q 0 0 0 rg BT 153.54 561.60 Td (of ) Tj ET Q q 0 0 0 rg BT 162.10 561.60 Td (the ) Tj ET Q q 0 0 0 rg BT 173.77 561.60 Td (assets ) Tj ET Q q 0 0 0 rg BT 194.33 561.60 Td (pledged ) Tj ET Q q 0 0 0 rg BT 221.55 561.60 Td (to ) Tj ET Q q 0 0 0 rg BT 229.67 561.60 Td (them ) Tj ET Q q 0 0 0 rg BT 247.56 561.60 Td (in ) Tj ET Q q 0 0 0 rg BT 255.68 561.60 Td (order ) Tj ET Q q 0 0 0 rg BT 274.46 561.60 Td (to ) Tj ET Q q 0 0 0 rg BT 282.58 561.60 Td (pay ) Tj ET Q q 0 0 0 rg BT 296.02 561.60 Td (amounts ) Tj ET Q q 0 0 0 rg BT 325.03 561.60 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 364.26 561.60 Td (under ) Tj ET Q q 0 0 0 rg BT 384.37 561.60 Td (such ) Tj ET Q q 0 0 0 rg BT 400.93 561.60 Td (debt ) Tj ET Q q 0 0 0 rg BT 416.60 561.60 Td (instruments. ) Tj ET Q q 0 0 0 rg BT 457.83 561.60 Td (Such ) Tj ET Q q 0 0 0 rg BT 475.72 561.60 Td (an ) Tj ET Q q 0 0 0 rg BT 485.17 561.60 Td (event ) Tj ET Q q 0 0 0 rg BT 504.39 561.60 Td (could ) Tj ET Q q 0 0 0 rg BT 524.06 561.60 Td (result ) Tj ET Q q 0 0 0 rg BT 543.73 561.60 Td (in ) Tj ET Q q 0 0 0 rg BT 551.85 561.60 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 552.00 Td (inability ) Tj ET Q q 0 0 0 rg BT 78.16 552.00 Td (to ) Tj ET Q q 0 0 0 rg BT 86.39 552.00 Td (conduct ) Tj ET Q q 0 0 0 rg BT 113.71 552.00 Td (our ) Tj ET Q q 0 0 0 rg BT 126.38 552.00 Td (business.) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 532.10 Td (The ) Tj ET Q q 0 0 0 rg BT 64.39 532.10 Td (investigation ) Tj ET Q q 0 0 0 rg BT 108.61 532.10 Td (by ) Tj ET Q q 0 0 0 rg BT 118.16 532.10 Td (the ) Tj ET Q q 0 0 0 rg BT 130.39 532.10 Td (Romanian ) Tj ET Q q 0 0 0 rg BT 167.07 532.10 Td (authorities ) Tj ET Q q 0 0 0 rg BT 204.63 532.10 Td (into ) Tj ET Q q 0 0 0 rg BT 219.53 532.10 Td (conduct ) Tj ET Q q 0 0 0 rg BT 247.75 532.10 Td (by ) Tj ET Q q 0 0 0 rg BT 257.30 532.10 Td (employees ) Tj ET Q q 0 0 0 rg BT 293.06 532.10 Td (of ) Tj ET Q q 0 0 0 rg BT 301.73 532.10 Td (MPS ) Tj ET Q q 0 0 0 rg BT 320.18 532.10 Td (and ) Tj ET Q q 0 0 0 rg BT 334.63 532.10 Td (MPE ) Tj ET Q q 0 0 0 rg BT 353.96 532.10 Td (may ) Tj ET Q q 0 0 0 rg BT 369.73 532.10 Td (result ) Tj ET Q q 0 0 0 rg BT 390.41 532.10 Td (in ) Tj ET Q q 0 0 0 rg BT 399.08 532.10 Td (the ) Tj ET Q q 0 0 0 rg BT 411.30 532.10 Td (imposition ) Tj ET Q q 0 0 0 rg BT 447.98 532.10 Td (of ) Tj ET Q q 0 0 0 rg BT 456.64 532.10 Td (material ) Tj ET Q q 0 0 0 rg BT 486.20 532.10 Td (fines.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 516.50 Td (The ) Tj ET Q q 0 0 0 rg BT 63.93 516.50 Td (prosecutors) Tj ET Q q 0 0 0 rg BT 102.88 516.50 Td ( ) Tj ET Q q 0 0 0 rg BT 104.88 516.50 Td (of) Tj ET Q q 0 0 0 rg BT 111.39 516.50 Td (fice ) Tj ET Q q 0 0 0 rg BT 125.38 516.50 Td (of ) Tj ET Q q 0 0 0 rg BT 134.04 516.50 Td (the ) Tj ET Q q 0 0 0 rg BT 145.80 516.50 Td (Bucharest ) Tj ET Q q 0 0 0 rg BT 179.64 516.50 Td (T) Tj ET Q q 0 0 0 rg BT 184.25 516.50 Td (ribunal ) Tj ET Q q 0 0 0 rg BT 208.90 516.50 Td (is ) Tj ET Q q 0 0 0 rg BT 216.23 516.50 Td (investigating ) Tj ET Q q 0 0 0 rg BT 259.55 516.50 Td (certain ) Tj ET Q q 0 0 0 rg BT 283.31 516.50 Td (suppliers ) Tj ET Q q 0 0 0 rg BT 314.19 516.50 Td (of ) Tj ET Q q 0 0 0 rg BT 322.85 516.50 Td (MPS ) Tj ET Q q 0 0 0 rg BT 340.85 516.50 Td (and ) Tj ET Q q 0 0 0 rg BT 354.40 516.50 Td (MPE ) Tj ET Q q 0 0 0 rg BT 372.84 516.50 Td (as ) Tj ET Q q 0 0 0 rg BT 381.50 516.50 Td (well ) Tj ET Q q 0 0 0 rg BT 397.27 516.50 Td (as ) Tj ET Q q 0 0 0 rg BT 405.93 516.50 Td (certain ) Tj ET Q q 0 0 0 rg BT 429.68 516.50 Td (current ) Tj ET Q q 0 0 0 rg BT 454.33 516.50 Td (and ) Tj ET Q q 0 0 0 rg BT 467.87 516.50 Td (former ) Tj ET Q q 0 0 0 rg BT 491.63 516.50 Td (employees ) Tj ET Q q 0 0 0 rg BT 527.84 516.50 Td (of ) Tj ET Q q 0 0 0 rg BT 536.50 516.50 Td (MPS ) Tj ET Q q 0 0 0 rg BT 554.50 516.50 Td (on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 506.90 Td (suspicion ) Tj ET Q q 0 0 0 rg BT 81.90 506.90 Td (of ) Tj ET Q q 0 0 0 rg BT 90.75 506.90 Td (tax ) Tj ET Q q 0 0 0 rg BT 102.70 506.90 Td (evasion ) Tj ET Q q 0 0 0 rg BT 129.32 506.90 Td (and ) Tj ET Q q 0 0 0 rg BT 143.05 506.90 Td (related ) Tj ET Q q 0 0 0 rg BT 166.99 506.90 Td (char) Tj ET Q q 0 0 0 rg BT 180.62 506.90 Td (ges. ) Tj ET Q q 0 0 0 rg BT 195.46 506.90 Td (For ) Tj ET Q q 0 0 0 rg BT 208.75 506.90 Td (additional ) Tj ET Q q 0 0 0 rg BT 242.93 506.90 Td (information, ) Tj ET Q q 0 0 0 rg BT 284.88 506.90 Td (see ) Tj ET Q q 0 0 0 rg BT 297.27 506.90 Td (Item ) Tj ET Q q 0 0 0 rg BT 314.11 506.90 Td (3 ) Tj ET Q q 0 0 0 rg BT 320.29 506.90 Td (Legal ) Tj ET Q q 0 0 0 rg BT 344.24 506.90 Td (Proceedings. ) Tj ET Q q 0 0 0 rg BT 390.91 506.90 Td (While ) Tj ET Q q 0 0 0 rg BT 412.64 506.90 Td (neither ) Tj ET Q q 0 0 0 rg BT 437.03 506.90 Td (MPS ) Tj ET Q q 0 0 0 rg BT 455.22 506.90 Td (nor ) Tj ET Q q 0 0 0 rg BT 468.07 506.90 Td (MPE ) Tj ET Q q 0 0 0 rg BT 486.70 506.90 Td (is ) Tj ET Q q 0 0 0 rg BT 494.21 506.90 Td (currently ) Tj ET Q q 0 0 0 rg BT 525.27 506.90 Td (a ) Tj ET Q q 0 0 0 rg BT 531.00 506.90 Td (subject ) Tj ET Q q 0 0 0 rg BT 555.84 506.90 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 497.30 Td (the ) Tj ET Q q 0 0 0 rg BT 60.97 497.30 Td (investigation ) Tj ET Q q 0 0 0 rg BT 103.99 497.30 Td (or ) Tj ET Q q 0 0 0 rg BT 112.35 497.30 Td (a ) Tj ET Q q 0 0 0 rg BT 117.60 497.30 Td (party ) Tj ET Q q 0 0 0 rg BT 135.73 497.30 Td (to ) Tj ET Q q 0 0 0 rg BT 143.65 497.30 Td (the ) Tj ET Q q 0 0 0 rg BT 155.12 497.30 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 195.46 497.30 Td (and ) Tj ET Q q 0 0 0 rg BT 208.71 497.30 Td (no ) Tj ET Q q 0 0 0 rg BT 218.41 497.30 Td (formal ) Tj ET Q q 0 0 0 rg BT 241.43 497.30 Td (char) Tj ET Q q 0 0 0 rg BT 255.05 497.30 Td (ges ) Tj ET Q q 0 0 0 rg BT 267.41 497.30 Td (against ) Tj ET Q q 0 0 0 rg BT 291.76 497.30 Td (or ) Tj ET Q q 0 0 0 rg BT 300.12 497.30 Td (indictment ) Tj ET Q q 0 0 0 rg BT 336.03 497.30 Td (of ) Tj ET Q q 0 0 0 rg BT 344.39 497.30 Td (any ) Tj ET Q q 0 0 0 rg BT 357.64 497.30 Td (of ) Tj ET Q q 0 0 0 rg BT 366.00 497.30 Td (the ) Tj ET Q q 0 0 0 rg BT 377.46 497.30 Td (persons ) Tj ET Q q 0 0 0 rg BT 403.60 497.30 Td (who ) Tj ET Q q 0 0 0 rg BT 419.07 497.30 Td (have ) Tj ET Q q 0 0 0 rg BT 435.87 497.30 Td (been ) Tj ET Q q 0 0 0 rg BT 452.67 497.30 Td (detained ) Tj ET Q q 0 0 0 rg BT 481.46 497.30 Td (or ) Tj ET Q q 0 0 0 rg BT 489.82 497.30 Td (are ) Tj ET Q q 0 0 0 rg BT 501.28 497.30 Td (under ) Tj ET Q q 0 0 0 rg BT 521.19 497.30 Td (investigation ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 487.70 Td (has ) Tj ET Q q 0 0 0 rg BT 62.30 487.70 Td (been ) Tj ET Q q 0 0 0 rg BT 79.55 487.70 Td (made, ) Tj ET Q q 0 0 0 rg BT 101.01 487.70 Td (the ) Tj ET Q q 0 0 0 rg BT 112.93 487.70 Td (prosecuting ) Tj ET Q q 0 0 0 rg BT 152.39 487.70 Td (authorities ) Tj ET Q q 0 0 0 rg BT 188.30 487.70 Td (in ) Tj ET Q q 0 0 0 rg BT 196.66 487.70 Td (Romania ) Tj ET Q q 0 0 0 rg BT 227.69 487.70 Td (may ) Tj ET Q q 0 0 0 rg BT 243.60 487.70 Td (take ) Tj ET Q q 0 0 0 rg BT 259.07 487.70 Td (action ) Tj ET Q q 0 0 0 rg BT 280.75 487.70 Td (against ) Tj ET Q q 0 0 0 rg BT 305.55 487.70 Td (MPS ) Tj ET Q q 0 0 0 rg BT 323.71 487.70 Td (or ) Tj ET Q q 0 0 0 rg BT 332.51 487.70 Td (MPE ) Tj ET Q q 0 0 0 rg BT 351.10 487.70 Td (in ) Tj ET Q q 0 0 0 rg BT 359.46 487.70 Td (the ) Tj ET Q q 0 0 0 rg BT 371.38 487.70 Td (future. ) Tj ET Q q 0 0 0 rg BT 394.47 487.70 Td (These ) Tj ET Q q 0 0 0 rg BT 415.71 487.70 Td (actions ) Tj ET Q q 0 0 0 rg BT 440.51 487.70 Td (could ) Tj ET Q q 0 0 0 rg BT 460.42 487.70 Td (include ) Tj ET Q q 0 0 0 rg BT 486.11 487.70 Td (criminal ) Tj ET Q q 0 0 0 rg BT 514.91 487.70 Td (and ) Tj ET Q q 0 0 0 rg BT 528.60 487.70 Td (civil ) Tj ET Q q 0 0 0 rg BT 544.96 487.70 Td (fines, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 478.10 Td (penalties, ) Tj ET Q q 0 0 0 rg BT 82.12 478.10 Td (damages, ) Tj ET Q q 0 0 0 rg BT 114.30 478.10 Td (seizure ) Tj ET Q q 0 0 0 rg BT 139.14 478.10 Td (of ) Tj ET Q q 0 0 0 rg BT 147.99 478.10 Td (bank ) Tj ET Q q 0 0 0 rg BT 165.73 478.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 195.90 478.10 Td (or ) Tj ET Q q 0 0 0 rg BT 204.75 478.10 Td (other ) Tj ET Q q 0 0 0 rg BT 223.38 478.10 Td (assets, ) Tj ET Q q 0 0 0 rg BT 246.23 478.10 Td (a ) Tj ET Q q 0 0 0 rg BT 251.97 478.10 Td (temporary ) Tj ET Q q 0 0 0 rg BT 287.03 478.10 Td (suspension ) Tj ET Q q 0 0 0 rg BT 324.33 478.10 Td (of ) Tj ET Q q 0 0 0 rg BT 333.18 478.10 Td (activity) Tj ET Q q 0 0 0 rg BT 356.66 478.10 Td (, ) Tj ET Q q 0 0 0 rg BT 360.84 478.10 Td (or ) Tj ET Q q 0 0 0 rg BT 369.70 478.10 Td (other ) Tj ET Q q 0 0 0 rg BT 388.32 478.10 Td (actions ) Tj ET Q q 0 0 0 rg BT 413.17 478.10 Td (or ) Tj ET Q q 0 0 0 rg BT 422.02 478.10 Td (restrictions. ) Tj ET Q q 0 0 0 rg BT 461.75 478.10 Td (Depending ) Tj ET Q q 0 0 0 rg BT 499.04 478.10 Td (on ) Tj ET Q q 0 0 0 rg BT 509.23 478.10 Td (the ) Tj ET Q q 0 0 0 rg BT 521.19 478.10 Td (development ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 468.50 Td (of ) Tj ET Q q 0 0 0 rg BT 57.99 468.50 Td (these ) Tj ET Q q 0 0 0 rg BT 76.25 468.50 Td (investigations, ) Tj ET Q q 0 0 0 rg BT 124.52 468.50 Td (we ) Tj ET Q q 0 0 0 rg BT 135.67 468.50 Td (may ) Tj ET Q q 0 0 0 rg BT 151.27 468.50 Td (be ) Tj ET Q q 0 0 0 rg BT 160.65 468.50 Td (required ) Tj ET Q q 0 0 0 rg BT 189.12 468.50 Td (to ) Tj ET Q q 0 0 0 rg BT 197.17 468.50 Td (accrue ) Tj ET Q q 0 0 0 rg BT 219.86 468.50 Td (significant ) Tj ET Q q 0 0 0 rg BT 255.46 468.50 Td (amounts, ) Tj ET Q q 0 0 0 rg BT 286.39 468.50 Td (including, ) Tj ET Q q 0 0 0 rg BT 320.44 468.50 Td (among ) Tj ET Q q 0 0 0 rg BT 344.04 468.50 Td (others, ) Tj ET Q q 0 0 0 rg BT 367.41 468.50 Td (for ) Tj ET Q q 0 0 0 rg BT 378.57 468.50 Td (fines, ) Tj ET Q q 0 0 0 rg BT 397.94 468.50 Td (penalties, ) Tj ET Q q 0 0 0 rg BT 430.20 468.50 Td (or ) Tj ET Q q 0 0 0 rg BT 438.69 468.50 Td (other ) Tj ET Q q 0 0 0 rg BT 456.95 468.50 Td (damages ) Tj ET Q q 0 0 0 rg BT 486.77 468.50 Td (that ) Tj ET Q q 0 0 0 rg BT 500.59 468.50 Td (may ) Tj ET Q q 0 0 0 rg BT 516.19 468.50 Td (be ) Tj ET Q q 0 0 0 rg BT 525.56 468.50 Td (imposed ) Tj ET Q q 0 0 0 rg BT 554.50 468.50 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 458.90 Td (the ) Tj ET Q q 0 0 0 rg BT 61.37 458.90 Td (Romanian ) Tj ET Q q 0 0 0 rg BT 96.36 458.90 Td (authorities. ) Tj ET Q q 0 0 0 rg BT 134.23 458.90 Td (MPS ) Tj ET Q q 0 0 0 rg BT 152.34 458.90 Td (and ) Tj ET Q q 0 0 0 rg BT 165.99 458.90 Td (MPE ) Tj ET Q q 0 0 0 rg BT 184.54 458.90 Td (are ) Tj ET Q q 0 0 0 rg BT 196.41 458.90 Td (cooperating ) Tj ET Q q 0 0 0 rg BT 236.27 458.90 Td (with ) Tj ET Q q 0 0 0 rg BT 252.59 458.90 Td (the ) Tj ET Q q 0 0 0 rg BT 264.47 458.90 Td (Bucharest ) Tj ET Q q 0 0 0 rg BT 298.56 458.90 Td (public ) Tj ET Q q 0 0 0 rg BT 320.65 458.90 Td (prosecutor) Tj ET Q q 0 0 0 rg BT 354.71 458.90 Td () Tj ET Q q 0 0 0 rg BT 356.94 458.90 Td (s ) Tj ET Q q 0 0 0 rg BT 362.15 458.90 Td (of) Tj ET Q q 0 0 0 rg BT 368.67 458.90 Td (fice ) Tj ET Q q 0 0 0 rg BT 382.76 458.90 Td (in ) Tj ET Q q 0 0 0 rg BT 391.08 458.90 Td (its ) Tj ET Q q 0 0 0 rg BT 400.74 458.90 Td (investigations ) Tj ET Q q 0 0 0 rg BT 447.28 458.90 Td (of ) Tj ET Q q 0 0 0 rg BT 456.05 458.90 Td (these ) Tj ET Q q 0 0 0 rg BT 474.59 458.90 Td (matters. ) Tj ET Q q 0 0 0 rg BT 501.77 458.90 Td (At ) Tj ET Q q 0 0 0 rg BT 511.87 458.90 Td (this ) Tj ET Q q 0 0 0 rg BT 525.53 458.90 Td (point, ) Tj ET Q q 0 0 0 rg BT 546.08 458.90 Td (these ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 449.30 Td (investigations ) Tj ET Q q 0 0 0 rg BT 95.81 449.30 Td (are ) Tj ET Q q 0 0 0 rg BT 107.44 449.30 Td (incomplete ) Tj ET Q q 0 0 0 rg BT 144.84 449.30 Td (and, ) Tj ET Q q 0 0 0 rg BT 160.26 449.30 Td (as ) Tj ET Q q 0 0 0 rg BT 168.79 449.30 Td (a ) Tj ET Q q 0 0 0 rg BT 174.20 449.30 Td (result, ) Tj ET Q q 0 0 0 rg BT 195.84 449.30 Td (we ) Tj ET Q q 0 0 0 rg BT 207.03 449.30 Td (cannot ) Tj ET Q q 0 0 0 rg BT 230.22 449.30 Td (predict ) Tj ET Q q 0 0 0 rg BT 254.29 449.30 Td (when ) Tj ET Q q 0 0 0 rg BT 273.49 449.30 Td (they ) Tj ET Q q 0 0 0 rg BT 289.13 449.30 Td (will ) Tj ET Q q 0 0 0 rg BT 303.43 449.30 Td (be ) Tj ET Q q 0 0 0 rg BT 312.85 449.30 Td (completed ) Tj ET Q q 0 0 0 rg BT 348.03 449.30 Td (or ) Tj ET Q q 0 0 0 rg BT 356.56 449.30 Td (what ) Tj ET Q q 0 0 0 rg BT 373.98 449.30 Td (their ) Tj ET Q q 0 0 0 rg BT 390.50 449.30 Td (outcome ) Tj ET Q q 0 0 0 rg BT 419.91 449.30 Td (will ) Tj ET Q q 0 0 0 rg BT 434.22 449.30 Td (be, ) Tj ET Q q 0 0 0 rg BT 445.64 449.30 Td (including ) Tj ET Q q 0 0 0 rg BT 477.72 449.30 Td (whether ) Tj ET Q q 0 0 0 rg BT 505.35 449.30 Td (MPS ) Tj ET Q q 0 0 0 rg BT 523.23 449.30 Td (or ) Tj ET Q q 0 0 0 rg BT 531.75 449.30 Td (MPE ) Tj ET Q q 0 0 0 rg BT 550.07 449.30 Td (will ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 439.70 Td (be ) Tj ET Q q 0 0 0 rg BT 59.21 439.70 Td (joined ) Tj ET Q q 0 0 0 rg BT 81.36 439.70 Td (to ) Tj ET Q q 0 0 0 rg BT 89.73 439.70 Td (the ) Tj ET Q q 0 0 0 rg BT 101.66 439.70 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 142.47 439.70 Td (either ) Tj ET Q q 0 0 0 rg BT 162.83 439.70 Td (as ) Tj ET Q q 0 0 0 rg BT 171.65 439.70 Td (a ) Tj ET Q q 0 0 0 rg BT 177.36 439.70 Td (defendant ) Tj ET Q q 0 0 0 rg BT 211.05 439.70 Td (or ) Tj ET Q q 0 0 0 rg BT 219.87 439.70 Td (a ) Tj ET Q q 0 0 0 rg BT 225.57 439.70 Td (civilly ) Tj ET Q q 0 0 0 rg BT 248.17 439.70 Td (liable ) Tj ET Q q 0 0 0 rg BT 268.09 439.70 Td (party ) Tj ET Q q 0 0 0 rg BT 286.68 439.70 Td (or ) Tj ET Q q 0 0 0 rg BT 295.50 439.70 Td (whether ) Tj ET Q q 0 0 0 rg BT 323.42 439.70 Td (any ) Tj ET Q q 0 0 0 rg BT 337.13 439.70 Td (fines, ) Tj ET Q q 0 0 0 rg BT 356.83 439.70 Td (penalties, ) Tj ET Q q 0 0 0 rg BT 389.42 439.70 Td (or ) Tj ET Q q 0 0 0 rg BT 398.24 439.70 Td (other ) Tj ET Q q 0 0 0 rg BT 416.83 439.70 Td (damages ) Tj ET Q q 0 0 0 rg BT 446.97 439.70 Td (will ) Tj ET Q q 0 0 0 rg BT 461.57 439.70 Td (be ) Tj ET Q q 0 0 0 rg BT 471.28 439.70 Td (imposed ) Tj ET Q q 0 0 0 rg BT 500.54 439.70 Td (on ) Tj ET Q q 0 0 0 rg BT 510.70 439.70 Td (MPS ) Tj ET Q q 0 0 0 rg BT 528.86 439.70 Td (or ) Tj ET Q q 0 0 0 rg BT 537.68 439.70 Td (MPE ) Tj ET Q q 0 0 0 rg BT 556.28 439.70 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 430.10 Td (that ) Tj ET Q q 0 0 0 rg BT 63.87 430.10 Td (event ) Tj ET Q q 0 0 0 rg BT 83.56 430.10 Td (or ) Tj ET Q q 0 0 0 rg BT 92.60 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 104.75 430.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 131.11 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 140.15 430.10 Td (such ) Tj ET Q q 0 0 0 rg BT 157.19 430.10 Td (fines, ) Tj ET Q q 0 0 0 rg BT 177.11 430.10 Td (penalties ) Tj ET Q q 0 0 0 rg BT 207.92 430.10 Td (or ) Tj ET Q q 0 0 0 rg BT 216.95 430.10 Td (other ) Tj ET Q q 0 0 0 rg BT 235.76 430.10 Td (damages. ) Tj ET Q q 0 0 0 rg BT 268.12 430.10 Td (In ) Tj ET Q q 0 0 0 rg BT 277.16 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 289.30 430.10 Td (event ) Tj ET Q q 0 0 0 rg BT 309.00 430.10 Td (material ) Tj ET Q q 0 0 0 rg BT 337.58 430.10 Td (fines, ) Tj ET Q q 0 0 0 rg BT 357.50 430.10 Td (penalties, ) Tj ET Q q 0 0 0 rg BT 390.31 430.10 Td (or ) Tj ET Q q 0 0 0 rg BT 399.34 430.10 Td (other ) Tj ET Q q 0 0 0 rg BT 418.15 430.10 Td (damages ) Tj ET Q q 0 0 0 rg BT 448.51 430.10 Td (are ) Tj ET Q q 0 0 0 rg BT 460.65 430.10 Td (imposed ) Tj ET Q q 0 0 0 rg BT 490.13 430.10 Td (on ) Tj ET Q q 0 0 0 rg BT 500.50 430.10 Td (MPS ) Tj ET Q q 0 0 0 rg BT 518.89 430.10 Td (or ) Tj ET Q q 0 0 0 rg BT 527.92 430.10 Td (MPE, ) Tj ET Q q 0 0 0 rg BT 548.75 430.10 Td (they ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 420.50 Td (would ) Tj ET Q q 0 0 0 rg BT 71.57 420.50 Td (experience ) Tj ET Q q 0 0 0 rg BT 108.29 420.50 Td (dif) Tj ET Q q 0 0 0 rg BT 117.03 420.50 Td (ficulties ) Tj ET Q q 0 0 0 rg BT 144.87 420.50 Td (continuing ) Tj ET Q q 0 0 0 rg BT 181.16 420.50 Td (to ) Tj ET Q q 0 0 0 rg BT 189.46 420.50 Td (operate ) Tj ET Q q 0 0 0 rg BT 215.07 420.50 Td (and ) Tj ET Q q 0 0 0 rg BT 228.69 420.50 Td (may ) Tj ET Q q 0 0 0 rg BT 244.54 420.50 Td (need ) Tj ET Q q 0 0 0 rg BT 261.71 420.50 Td (to ) Tj ET Q q 0 0 0 rg BT 270.00 420.50 Td (cease ) Tj ET Q q 0 0 0 rg BT 289.39 420.50 Td (operations ) Tj ET Q q 0 0 0 rg BT 324.79 420.50 Td (entirely ) Tj ET Q q 0 0 0 rg BT 351.29 420.50 Td (if ) Tj ET Q q 0 0 0 rg BT 358.25 420.50 Td (necessary ) Tj ET Q q 0 0 0 rg BT 391.42 420.50 Td (third ) Tj ET Q q 0 0 0 rg BT 408.60 420.50 Td (party ) Tj ET Q q 0 0 0 rg BT 427.11 420.50 Td (financing ) Tj ET Q q 0 0 0 rg BT 459.39 420.50 Td (cannot ) Tj ET Q q 0 0 0 rg BT 482.79 420.50 Td (be ) Tj ET Q q 0 0 0 rg BT 492.41 420.50 Td (secured. ) Tj ET Q q 0 0 0 rg BT 520.46 420.50 Td (Any ) Tj ET Q q 0 0 0 rg BT 536.31 420.50 Td (material ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 410.90 Td (fines, ) Tj ET Q q 0 0 0 rg BT 68.59 410.90 Td (penalties, ) Tj ET Q q 0 0 0 rg BT 100.55 410.90 Td (or ) Tj ET Q q 0 0 0 rg BT 108.75 410.90 Td (other ) Tj ET Q q 0 0 0 rg BT 126.73 410.90 Td (damages ) Tj ET Q q 0 0 0 rg BT 156.25 410.90 Td (imposed ) Tj ET Q q 0 0 0 rg BT 184.89 410.90 Td (on ) Tj ET Q q 0 0 0 rg BT 194.43 410.90 Td (MPS ) Tj ET Q q 0 0 0 rg BT 211.98 410.90 Td (or ) Tj ET Q q 0 0 0 rg BT 220.18 410.90 Td (MPE ) Tj ET Q q 0 0 0 rg BT 238.16 410.90 Td (may ) Tj ET Q q 0 0 0 rg BT 253.47 410.90 Td (have ) Tj ET Q q 0 0 0 rg BT 270.11 410.90 Td (an ) Tj ET Q q 0 0 0 rg BT 279.19 410.90 Td (adverse ) Tj ET Q q 0 0 0 rg BT 305.16 410.90 Td (ef) Tj ET Q q 0 0 0 rg BT 311.23 410.90 Td (fect ) Tj ET Q q 0 0 0 rg BT 324.75 410.90 Td (on ) Tj ET Q q 0 0 0 rg BT 334.29 410.90 Td (our ) Tj ET Q q 0 0 0 rg BT 346.48 410.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 376.00 410.90 Td (condition ) Tj ET Q q 0 0 0 rg BT 407.76 410.90 Td (or ) Tj ET Q q 0 0 0 rg BT 415.96 410.90 Td (results ) Tj ET Q q 0 0 0 rg BT 438.38 410.90 Td (of ) Tj ET Q q 0 0 0 rg BT 446.58 410.90 Td (operations. ) Tj ET Q q 0 0 0 rg BT 483.44 410.90 Td (Furthermore, ) Tj ET Q q 0 0 0 rg BT 526.96 410.90 Td (responding ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 401.30 Td (to ) Tj ET Q q 0 0 0 rg BT 57.44 401.30 Td (the ) Tj ET Q q 0 0 0 rg BT 68.93 401.30 Td (requests ) Tj ET Q q 0 0 0 rg BT 96.86 401.30 Td (of ) Tj ET Q q 0 0 0 rg BT 105.24 401.30 Td (governmental ) Tj ET Q q 0 0 0 rg BT 150.94 401.30 Td (authorities ) Tj ET Q q 0 0 0 rg BT 186.42 401.30 Td (and ) Tj ET Q q 0 0 0 rg BT 199.69 401.30 Td (cooperating ) Tj ET Q q 0 0 0 rg BT 239.17 401.30 Td (with ) Tj ET Q q 0 0 0 rg BT 255.11 401.30 Td (their ) Tj ET Q q 0 0 0 rg BT 271.48 401.30 Td (investigation ) Tj ET Q q 0 0 0 rg BT 314.53 401.30 Td (will ) Tj ET Q q 0 0 0 rg BT 328.69 401.30 Td (continue ) Tj ET Q q 0 0 0 rg BT 357.95 401.30 Td (to ) Tj ET Q q 0 0 0 rg BT 365.89 401.30 Td (divert ) Tj ET Q q 0 0 0 rg BT 386.26 401.30 Td (our ) Tj ET Q q 0 0 0 rg BT 398.64 401.30 Td (management) Tj ET Q q 0 0 0 rg BT 441.74 401.30 Td (s ) Tj ET Q q 0 0 0 rg BT 446.57 401.30 Td (attention ) Tj ET Q q 0 0 0 rg BT 476.28 401.30 Td (and ) Tj ET Q q 0 0 0 rg BT 489.54 401.30 Td (resources, ) Tj ET Q q 0 0 0 rg BT 523.46 401.30 Td (which ) Tj ET Q q 0 0 0 rg BT 544.73 401.30 Td (could ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 391.70 Td (harm ) Tj ET Q q 0 0 0 rg BT 67.94 391.70 Td (our ) Tj ET Q q 0 0 0 rg BT 80.60 391.70 Td (business.) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 376.10 Td (W) Tj ET Q q 0 0 0 rg BT 56.02 376.10 Td (e ) Tj ET Q q 0 0 0 rg BT 61.57 376.10 Td (may ) Tj ET Q q 0 0 0 rg BT 77.34 376.10 Td (not ) Tj ET Q q 0 0 0 rg BT 90.02 376.10 Td (be ) Tj ET Q q 0 0 0 rg BT 99.57 376.10 Td (successful ) Tj ET Q q 0 0 0 rg BT 135.34 376.10 Td (in ) Tj ET Q q 0 0 0 rg BT 144.02 376.10 Td (continuing ) Tj ET Q q 0 0 0 rg BT 182.03 376.10 Td (our ) Tj ET Q q 0 0 0 rg BT 195.59 376.10 Td (attempts ) Tj ET Q q 0 0 0 rg BT 225.15 376.10 Td (to ) Tj ET Q q 0 0 0 rg BT 233.37 376.10 Td (diversify ) Tj ET Q q 0 0 0 rg BT 263.36 376.10 Td (and ) Tj ET Q q 0 0 0 rg BT 277.81 376.10 Td (enhance ) Tj ET Q q 0 0 0 rg BT 307.81 376.10 Td (our ) Tj ET Q q 0 0 0 rg BT 321.37 376.10 Td (revenues.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 360.50 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 360.50 Td (e ) Tj ET Q q 0 0 0 rg BT 61.84 360.50 Td (are ) Tj ET Q q 0 0 0 rg BT 73.48 360.50 Td (focused ) Tj ET Q q 0 0 0 rg BT 100.23 360.50 Td (on ) Tj ET Q q 0 0 0 rg BT 110.11 360.50 Td (creating ) Tj ET Q q 0 0 0 rg BT 137.75 360.50 Td (additional ) Tj ET Q q 0 0 0 rg BT 171.62 360.50 Td (revenue ) Tj ET Q q 0 0 0 rg BT 198.81 360.50 Td (streams ) Tj ET Q q 0 0 0 rg BT 225.12 360.50 Td (from ) Tj ET Q q 0 0 0 rg BT 242.55 360.50 Td (our ) Tj ET Q q 0 0 0 rg BT 255.09 360.50 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 287.62 360.50 Td (operations ) Tj ET Q q 0 0 0 rg BT 322.82 360.50 Td (as ) Tj ET Q q 0 0 0 rg BT 331.36 360.50 Td (well ) Tj ET Q q 0 0 0 rg BT 347.01 360.50 Td (as ) Tj ET Q q 0 0 0 rg BT 355.55 360.50 Td (enhancing ) Tj ET Q q 0 0 0 rg BT 390.30 360.50 Td (revenues ) Tj ET Q q 0 0 0 rg BT 420.60 360.50 Td (generated ) Tj ET Q q 0 0 0 rg BT 453.57 360.50 Td (from ) Tj ET Q q 0 0 0 rg BT 471.00 360.50 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 503.52 360.50 Td (advertising, ) Tj ET Q q 0 0 0 rg BT 542.95 360.50 Td (which ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 350.90 Td (is ) Tj ET Q q 0 0 0 rg BT 56.39 350.90 Td (how ) Tj ET Q q 0 0 0 rg BT 71.73 350.90 Td (we ) Tj ET Q q 0 0 0 rg BT 82.61 350.90 Td (generate ) Tj ET Q q 0 0 0 rg BT 111.26 350.90 Td (most ) Tj ET Q q 0 0 0 rg BT 128.37 350.90 Td (of ) Tj ET Q q 0 0 0 rg BT 136.59 350.90 Td (our ) Tj ET Q q 0 0 0 rg BT 148.81 350.90 Td (revenues. ) Tj ET Q q 0 0 0 rg BT 180.80 350.90 Td (Our ) Tj ET Q q 0 0 0 rg BT 194.80 350.90 Td (main ) Tj ET Q q 0 0 0 rg BT 212.35 350.90 Td (ef) Tj ET Q q 0 0 0 rg BT 218.42 350.90 Td (forts ) Tj ET Q q 0 0 0 rg BT 234.64 350.90 Td (with ) Tj ET Q q 0 0 0 rg BT 250.42 350.90 Td (respect ) Tj ET Q q 0 0 0 rg BT 274.63 350.90 Td (to ) Tj ET Q q 0 0 0 rg BT 282.41 350.90 Td (this ) Tj ET Q q 0 0 0 rg BT 295.53 350.90 Td (strategy ) Tj ET Q q 0 0 0 rg BT 322.41 350.90 Td (are ) Tj ET Q q 0 0 0 rg BT 333.73 350.90 Td (on ) Tj ET Q q 0 0 0 rg BT 343.29 350.90 Td (increasing ) Tj ET Q q 0 0 0 rg BT 377.72 350.90 Td (carriage ) Tj ET Q q 0 0 0 rg BT 405.03 350.90 Td (fees ) Tj ET Q q 0 0 0 rg BT 419.46 350.90 Td (from ) Tj ET Q q 0 0 0 rg BT 436.57 350.90 Td (cable ) Tj ET Q q 0 0 0 rg BT 455.00 350.90 Td (and ) Tj ET Q q 0 0 0 rg BT 468.11 350.90 Td (satellite ) Tj ET Q q 0 0 0 rg BT 494.54 350.90 Td (operators ) Tj ET Q q 0 0 0 rg BT 525.87 350.90 Td (for ) Tj ET Q q 0 0 0 rg BT 536.75 350.90 Td (carriage ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 341.30 Td (of ) Tj ET Q q 0 0 0 rg BT 58.17 341.30 Td (our ) Tj ET Q q 0 0 0 rg BT 70.84 341.30 Td (channels ) Tj ET Q q 0 0 0 rg BT 100.83 341.30 Td (as ) Tj ET Q q 0 0 0 rg BT 109.50 341.30 Td (well ) Tj ET Q q 0 0 0 rg BT 125.28 341.30 Td (as ) Tj ET Q q 0 0 0 rg BT 133.95 341.30 Td (continuing ) Tj ET Q q 0 0 0 rg BT 170.17 341.30 Td (to ) Tj ET Q q 0 0 0 rg BT 178.40 341.30 Td (seek ) Tj ET Q q 0 0 0 rg BT 194.62 341.30 Td (improvements ) Tj ET Q q 0 0 0 rg BT 242.39 341.30 Td (in ) Tj ET Q q 0 0 0 rg BT 250.62 341.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 288.17 341.30 Td (pricing. ) Tj ET Q q 0 0 0 rg BT 314.84 341.30 Td (During ) Tj ET Q q 0 0 0 rg BT 339.51 341.30 Td (prior ) Tj ET Q q 0 0 0 rg BT 357.06 341.30 Td (negotiations ) Tj ET Q q 0 0 0 rg BT 398.17 341.30 Td (to ) Tj ET Q q 0 0 0 rg BT 406.40 341.30 Td (implement ) Tj ET Q q 0 0 0 rg BT 442.62 341.30 Td (our ) Tj ET Q q 0 0 0 rg BT 455.29 341.30 Td (carriage ) Tj ET Q q 0 0 0 rg BT 483.05 341.30 Td (fees ) Tj ET Q q 0 0 0 rg BT 497.93 341.30 Td (strategy) Tj ET Q q 0 0 0 rg BT 522.74 341.30 Td (, ) Tj ET Q q 0 0 0 rg BT 526.74 341.30 Td (some ) Tj ET Q q 0 0 0 rg BT 545.63 341.30 Td (cable ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 331.70 Td (and ) Tj ET Q q 0 0 0 rg BT 62.45 331.70 Td (satellite ) Tj ET Q q 0 0 0 rg BT 88.73 331.70 Td (operators ) Tj ET Q q 0 0 0 rg BT 119.89 331.70 Td (suspended ) Tj ET Q q 0 0 0 rg BT 154.62 331.70 Td (the ) Tj ET Q q 0 0 0 rg BT 165.79 331.70 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 197.84 331.70 Td (of ) Tj ET Q q 0 0 0 rg BT 205.90 331.70 Td (our ) Tj ET Q q 0 0 0 rg BT 217.96 331.70 Td (channels, ) Tj ET Q q 0 0 0 rg BT 249.35 331.70 Td (which ) Tj ET Q q 0 0 0 rg BT 270.30 331.70 Td (af) Tj ET Q q 0 0 0 rg BT 276.37 331.70 Td (fects ) Tj ET Q q 0 0 0 rg BT 292.87 331.70 Td (the ) Tj ET Q q 0 0 0 rg BT 304.04 331.70 Td (reach ) Tj ET Q q 0 0 0 rg BT 322.76 331.70 Td (and ) Tj ET Q q 0 0 0 rg BT 335.71 331.70 Td (audience ) Tj ET Q q 0 0 0 rg BT 365.53 331.70 Td (shares ) Tj ET Q q 0 0 0 rg BT 386.92 331.70 Td (of ) Tj ET Q q 0 0 0 rg BT 394.98 331.70 Td (those ) Tj ET Q q 0 0 0 rg BT 413.27 331.70 Td (operations ) Tj ET Q q 0 0 0 rg BT 447.99 331.70 Td (and ) Tj ET Q q 0 0 0 rg BT 460.94 331.70 Td (as ) Tj ET Q q 0 0 0 rg BT 469.00 331.70 Td (a ) Tj ET Q q 0 0 0 rg BT 473.95 331.70 Td (result, ) Tj ET Q q 0 0 0 rg BT 495.13 331.70 Td (advertising ) Tj ET Q q 0 0 0 rg BT 532.07 331.70 Td (revenues. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 322.10 Td (There ) Tj ET Q q 0 0 0 rg BT 70.12 322.10 Td (is ) Tj ET Q q 0 0 0 rg BT 77.42 322.10 Td (a ) Tj ET Q q 0 0 0 rg BT 82.94 322.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 96.91 322.10 Td (that ) Tj ET Q q 0 0 0 rg BT 110.87 322.10 Td (operators ) Tj ET Q q 0 0 0 rg BT 142.61 322.10 Td (may ) Tj ET Q q 0 0 0 rg BT 158.35 322.10 Td (refuse ) Tj ET Q q 0 0 0 rg BT 179.86 322.10 Td (to ) Tj ET Q q 0 0 0 rg BT 188.05 322.10 Td (carry ) Tj ET Q q 0 0 0 rg BT 206.45 322.10 Td (our ) Tj ET Q q 0 0 0 rg BT 219.08 322.10 Td (channels ) Tj ET Q q 0 0 0 rg BT 249.04 322.10 Td (while ) Tj ET Q q 0 0 0 rg BT 268.78 322.10 Td (carriage ) Tj ET Q q 0 0 0 rg BT 296.50 322.10 Td (fee ) Tj ET Q q 0 0 0 rg BT 308.23 322.10 Td (negotiations ) Tj ET Q q 0 0 0 rg BT 349.30 322.10 Td (are ) Tj ET Q q 0 0 0 rg BT 361.04 322.10 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 389.23 322.10 Td (or ) Tj ET Q q 0 0 0 rg BT 397.86 322.10 Td (that ) Tj ET Q q 0 0 0 rg BT 411.82 322.10 Td (clients ) Tj ET Q q 0 0 0 rg BT 434.67 322.10 Td (withdraw ) Tj ET Q q 0 0 0 rg BT 466.86 322.10 Td (advertising ) Tj ET Q q 0 0 0 rg BT 504.37 322.10 Td (from ) Tj ET Q q 0 0 0 rg BT 521.89 322.10 Td (our ) Tj ET Q q 0 0 0 rg BT 534.52 322.10 Td (channels ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 312.50 Td (or ) Tj ET Q q 0 0 0 rg BT 58.52 312.50 Td (reduce ) Tj ET Q q 0 0 0 rg BT 82.20 312.50 Td (spending ) Tj ET Q q 0 0 0 rg BT 113.44 312.50 Td (as ) Tj ET Q q 0 0 0 rg BT 122.46 312.50 Td (a ) Tj ET Q q 0 0 0 rg BT 128.37 312.50 Td (result ) Tj ET Q q 0 0 0 rg BT 148.50 312.50 Td (of ) Tj ET Q q 0 0 0 rg BT 157.52 312.50 Td (reduced ) Tj ET Q q 0 0 0 rg BT 185.20 312.50 Td (coverage, ) Tj ET Q q 0 0 0 rg BT 218.42 312.50 Td (or ) Tj ET Q q 0 0 0 rg BT 227.44 312.50 Td (that ) Tj ET Q q 0 0 0 rg BT 241.79 312.50 Td (going ) Tj ET Q q 0 0 0 rg BT 262.38 312.50 Td (forward ) Tj ET Q q 0 0 0 rg BT 290.05 312.50 Td (we ) Tj ET Q q 0 0 0 rg BT 301.74 312.50 Td (will ) Tj ET Q q 0 0 0 rg BT 316.54 312.50 Td (not ) Tj ET Q q 0 0 0 rg BT 329.12 312.50 Td (be ) Tj ET Q q 0 0 0 rg BT 339.03 312.50 Td (successful ) Tj ET Q q 0 0 0 rg BT 374.27 312.50 Td (in ) Tj ET Q q 0 0 0 rg BT 382.85 312.50 Td (renewing ) Tj ET Q q 0 0 0 rg BT 414.97 312.50 Td (carriage ) Tj ET Q q 0 0 0 rg BT 443.08 312.50 Td (fee ) Tj ET Q q 0 0 0 rg BT 455.20 312.50 Td (agreements ) Tj ET Q q 0 0 0 rg BT 493.99 312.50 Td (on ) Tj ET Q q 0 0 0 rg BT 504.34 312.50 Td (the ) Tj ET Q q 0 0 0 rg BT 516.47 312.50 Td (same ) Tj ET Q q 0 0 0 rg BT 535.27 312.50 Td (or ) Tj ET Q q 0 0 0 rg BT 544.29 312.50 Td (better ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 302.90 Td (terms, ) Tj ET Q q 0 0 0 rg BT 70.53 302.90 Td (which ) Tj ET Q q 0 0 0 rg BT 91.34 302.90 Td (may ) Tj ET Q q 0 0 0 rg BT 106.37 302.90 Td (have ) Tj ET Q q 0 0 0 rg BT 122.73 302.90 Td (an ) Tj ET Q q 0 0 0 rg BT 131.54 302.90 Td (adverse ) Tj ET Q q 0 0 0 rg BT 157.23 302.90 Td (impact ) Tj ET Q q 0 0 0 rg BT 180.25 302.90 Td (on ) Tj ET Q q 0 0 0 rg BT 189.51 302.90 Td (our ) Tj ET Q q 0 0 0 rg BT 201.43 302.90 Td (results ) Tj ET Q q 0 0 0 rg BT 223.58 302.90 Td (of ) Tj ET Q q 0 0 0 rg BT 231.50 302.90 Td (operations ) Tj ET Q q 0 0 0 rg BT 266.08 302.90 Td (and ) Tj ET Q q 0 0 0 rg BT 278.89 302.90 Td (cash ) Tj ET Q q 0 0 0 rg BT 294.36 302.90 Td (flows. ) Tj ET Q q 0 0 0 rg BT 315.40 302.90 Td (If ) Tj ET Q q 0 0 0 rg BT 321.98 302.90 Td (we ) Tj ET Q q 0 0 0 rg BT 332.57 302.90 Td (are ) Tj ET Q q 0 0 0 rg BT 343.59 302.90 Td (inef) Tj ET Q q 0 0 0 rg BT 355.89 302.90 Td (fective ) Tj ET Q q 0 0 0 rg BT 378.91 302.90 Td (in ) Tj ET Q q 0 0 0 rg BT 386.39 302.90 Td (achieving ) Tj ET Q q 0 0 0 rg BT 418.74 302.90 Td (further ) Tj ET Q q 0 0 0 rg BT 441.77 302.90 Td (carriage ) Tj ET Q q 0 0 0 rg BT 468.78 302.90 Td (fee ) Tj ET Q q 0 0 0 rg BT 479.80 302.90 Td (increases, ) Tj ET Q q 0 0 0 rg BT 512.38 302.90 Td (our ) Tj ET Q q 0 0 0 rg BT 524.30 302.90 Td (profitability ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 293.30 Td (will ) Tj ET Q q 0 0 0 rg BT 63.74 293.30 Td (continue ) Tj ET Q q 0 0 0 rg BT 93.07 293.30 Td (to ) Tj ET Q q 0 0 0 rg BT 101.09 293.30 Td (be ) Tj ET Q q 0 0 0 rg BT 110.43 293.30 Td (dependent ) Tj ET Q q 0 0 0 rg BT 145.10 293.30 Td (primarily ) Tj ET Q q 0 0 0 rg BT 176.66 293.30 Td (on ) Tj ET Q q 0 0 0 rg BT 186.45 293.30 Td (television ) Tj ET Q q 0 0 0 rg BT 219.34 293.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 256.68 293.30 Td (revenues, ) Tj ET Q q 0 0 0 rg BT 288.90 293.30 Td (which ) Tj ET Q q 0 0 0 rg BT 310.24 293.30 Td (increases ) Tj ET Q q 0 0 0 rg BT 341.35 293.30 Td (the ) Tj ET Q q 0 0 0 rg BT 352.92 293.30 Td (importance ) Tj ET Q q 0 0 0 rg BT 390.69 293.30 Td (placed ) Tj ET Q q 0 0 0 rg BT 413.36 293.30 Td (on ) Tj ET Q q 0 0 0 rg BT 423.15 293.30 Td (our ) Tj ET Q q 0 0 0 rg BT 435.60 293.30 Td (ability ) Tj ET Q q 0 0 0 rg BT 457.84 293.30 Td (to ) Tj ET Q q 0 0 0 rg BT 465.85 293.30 Td (generate ) Tj ET Q q 0 0 0 rg BT 494.73 293.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 532.07 293.30 Td (revenues. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 283.70 Td (There ) Tj ET Q q 0 0 0 rg BT 70.28 283.70 Td (can ) Tj ET Q q 0 0 0 rg BT 83.51 283.70 Td (be ) Tj ET Q q 0 0 0 rg BT 93.18 283.70 Td (no ) Tj ET Q q 0 0 0 rg BT 103.31 283.70 Td (assurances ) Tj ET Q q 0 0 0 rg BT 139.64 283.70 Td (that ) Tj ET Q q 0 0 0 rg BT 153.76 283.70 Td (these ) Tj ET Q q 0 0 0 rg BT 172.33 283.70 Td (initiatives ) Tj ET Q q 0 0 0 rg BT 206.00 283.70 Td (will ) Tj ET Q q 0 0 0 rg BT 220.58 283.70 Td (ultimately ) Tj ET Q q 0 0 0 rg BT 255.14 283.70 Td (be ) Tj ET Q q 0 0 0 rg BT 264.82 283.70 Td (successful, ) Tj ET Q q 0 0 0 rg BT 301.82 283.70 Td (and ) Tj ET Q q 0 0 0 rg BT 315.50 283.70 Td (if ) Tj ET Q q 0 0 0 rg BT 322.51 283.70 Td (unsuccessful, ) Tj ET Q q 0 0 0 rg BT 367.51 283.70 Td (this ) Tj ET Q q 0 0 0 rg BT 381.20 283.70 Td (may ) Tj ET Q q 0 0 0 rg BT 397.10 283.70 Td (have ) Tj ET Q q 0 0 0 rg BT 414.33 283.70 Td (an ) Tj ET Q q 0 0 0 rg BT 424.00 283.70 Td (adverse ) Tj ET Q q 0 0 0 rg BT 450.56 283.70 Td (impact ) Tj ET Q q 0 0 0 rg BT 474.45 283.70 Td (on ) Tj ET Q q 0 0 0 rg BT 484.58 283.70 Td (our ) Tj ET Q q 0 0 0 rg BT 497.37 283.70 Td (results ) Tj ET Q q 0 0 0 rg BT 520.38 283.70 Td (of ) Tj ET Q q 0 0 0 rg BT 529.17 283.70 Td (operations ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 274.10 Td (and ) Tj ET Q q 0 0 0 rg BT 63.05 274.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 79.27 274.10 Td (flows.) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 258.50 Td (A) Tj ET Q q 0 0 0 rg BT 54.39 258.50 Td ( ) Tj ET Q q 0 0 0 rg BT 56.39 258.50 Td (further ) Tj ET Q q 0 0 0 rg BT 81.96 258.50 Td (downgrading ) Tj ET Q q 0 0 0 rg BT 127.53 258.50 Td (of ) Tj ET Q q 0 0 0 rg BT 136.19 258.50 Td (our ) Tj ET Q q 0 0 0 rg BT 149.75 258.50 Td (ratings ) Tj ET Q q 0 0 0 rg BT 174.88 258.50 Td (may ) Tj ET Q q 0 0 0 rg BT 190.65 258.50 Td (adversely ) Tj ET Q q 0 0 0 rg BT 223.30 258.50 Td (af) Tj ET Q q 0 0 0 rg BT 229.82 258.50 Td (fect ) Tj ET Q q 0 0 0 rg BT 243.81 258.50 Td (our ) Tj ET Q q 0 0 0 rg BT 257.37 258.50 Td (ability ) Tj ET Q q 0 0 0 rg BT 279.81 258.50 Td (to ) Tj ET Q q 0 0 0 rg BT 288.04 258.50 Td (raise ) Tj ET Q q 0 0 0 rg BT 306.04 258.50 Td (additional ) Tj ET Q q 0 0 0 rg BT 341.38 258.50 Td (financing.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 242.90 Td (Moody) Tj ET Q q 0 0 0 rg BT 74.84 242.90 Td (s ) Tj ET Q q 0 0 0 rg BT 79.78 242.90 Td (Investors ) Tj ET Q q 0 0 0 rg BT 110.94 242.90 Td (Service ) Tj ET Q q 0 0 0 rg BT 136.76 242.90 Td (rates ) Tj ET Q q 0 0 0 rg BT 153.70 242.90 Td (our ) Tj ET Q q 0 0 0 rg BT 166.19 242.90 Td (corporate ) Tj ET Q q 0 0 0 rg BT 198.23 242.90 Td (credit ) Tj ET Q q 0 0 0 rg BT 218.27 242.90 Td (as ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.77 242.90 Td (Caa1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 243.20 242.90 Td (, ) Tj ET Q q 0 0 0 rg BT 247.04 242.90 Td (with ) Tj ET Q q 0 0 0 rg BT 263.09 242.90 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 268.47 242.90 Td (stable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 287.13 242.90 Td ( ) Tj ET Q q 0 0 0 rg BT 288.96 242.90 Td (outlook. ) Tj ET Q q 0 0 0 rg BT 317.24 242.90 Td (Standard ) Tj ET Q q 0 0 0 rg BT 347.51 242.90 Td (& ) Tj ET Q q 0 0 0 rg BT 355.57 242.90 Td (Poor) Tj ET Q q 0 0 0 rg BT 370.98 242.90 Td () Tj ET Q q 0 0 0 rg BT 373.20 242.90 Td (s ) Tj ET Q q 0 0 0 rg BT 378.14 242.90 Td (rates ) Tj ET Q q 0 0 0 rg BT 395.08 242.90 Td (our ) Tj ET Q q 0 0 0 rg BT 407.57 242.90 Td (corporate ) Tj ET Q q 0 0 0 rg BT 439.61 242.90 Td (credit ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 459.65 242.90 Td (B+) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.50 242.90 Td (, ) Tj ET Q q 0 0 0 rg BT 473.33 242.90 Td (with ) Tj ET Q q 0 0 0 rg BT 489.39 242.90 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.77 242.90 Td (stable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 513.43 242.90 Td ( ) Tj ET Q q 0 0 0 rg BT 515.26 242.90 Td (outlook. ) Tj ET Q q 0 0 0 rg BT 543.41 242.90 Td (These ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 233.30 Td (ratings ) Tj ET Q q 0 0 0 rg BT 73.39 233.30 Td (reflect ) Tj ET Q q 0 0 0 rg BT 95.94 233.30 Td (each ) Tj ET Q q 0 0 0 rg BT 112.71 233.30 Td (agency) Tj ET Q q 0 0 0 rg BT 137.58 233.30 Td (s ) Tj ET Q q 0 0 0 rg BT 142.82 233.30 Td (opinion ) Tj ET Q q 0 0 0 rg BT 169.38 233.30 Td (of ) Tj ET Q q 0 0 0 rg BT 178.16 233.30 Td (our ) Tj ET Q q 0 0 0 rg BT 190.95 233.30 Td (financial ) Tj ET Q q 0 0 0 rg BT 221.05 233.30 Td (strength, ) Tj ET Q q 0 0 0 rg BT 250.94 233.30 Td (operating ) Tj ET Q q 0 0 0 rg BT 283.27 233.30 Td (performance ) Tj ET Q q 0 0 0 rg BT 325.81 233.30 Td (and ) Tj ET Q q 0 0 0 rg BT 339.48 233.30 Td (ability ) Tj ET Q q 0 0 0 rg BT 362.04 233.30 Td (to ) Tj ET Q q 0 0 0 rg BT 370.38 233.30 Td (meet ) Tj ET Q q 0 0 0 rg BT 388.05 233.30 Td (our ) Tj ET Q q 0 0 0 rg BT 400.83 233.30 Td (debt ) Tj ET Q q 0 0 0 rg BT 416.72 233.30 Td (obligations ) Tj ET Q q 0 0 0 rg BT 454.40 233.30 Td (as ) Tj ET Q q 0 0 0 rg BT 463.18 233.30 Td (they ) Tj ET Q q 0 0 0 rg BT 479.07 233.30 Td (become ) Tj ET Q q 0 0 0 rg BT 506.07 233.30 Td (due. ) Tj ET Q q 0 0 0 rg BT 521.74 233.30 Td (Credit ) Tj ET Q q 0 0 0 rg BT 543.85 233.30 Td (rating ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 223.70 Td (agencies ) Tj ET Q q 0 0 0 rg BT 79.06 223.70 Td (view ) Tj ET Q q 0 0 0 rg BT 96.63 223.70 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 125.77 223.70 Td (and ) Tj ET Q q 0 0 0 rg BT 139.34 223.70 Td (the ) Tj ET Q q 0 0 0 rg BT 151.13 223.70 Td (key ) Tj ET Q q 0 0 0 rg BT 164.71 223.70 Td (ratios ) Tj ET Q q 0 0 0 rg BT 184.50 223.70 Td (associated ) Tj ET Q q 0 0 0 rg BT 219.40 223.70 Td (with ) Tj ET Q q 0 0 0 rg BT 235.64 223.70 Td (it, ) Tj ET Q q 0 0 0 rg BT 244.11 223.70 Td (such ) Tj ET Q q 0 0 0 rg BT 260.79 223.70 Td (as ) Tj ET Q q 0 0 0 rg BT 269.48 223.70 Td (gross ) Tj ET Q q 0 0 0 rg BT 288.39 223.70 Td (leverage ) Tj ET Q q 0 0 0 rg BT 317.50 223.70 Td (ratio, ) Tj ET Q q 0 0 0 rg BT 336.19 223.70 Td (a ) Tj ET Q q 0 0 0 rg BT 341.76 223.70 Td (particular ) Tj ET Q q 0 0 0 rg BT 374.43 223.70 Td (priority) Tj ET Q q 0 0 0 rg BT 397.90 223.70 Td (. ) Tj ET Q q 0 0 0 rg BT 401.93 223.70 Td (Our ) Tj ET Q q 0 0 0 rg BT 416.39 223.70 Td (refinancing ) Tj ET Q q 0 0 0 rg BT 454.84 223.70 Td (of ) Tj ET Q q 0 0 0 rg BT 463.52 223.70 Td (the ) Tj ET Q q 0 0 0 rg BT 475.32 223.70 Td (2016 ) Tj ET Q q 0 0 0 rg BT 493.34 223.70 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 513.58 223.70 Td (Rate ) Tj ET Q q 0 0 0 rg BT 530.26 223.70 Td (Notes ) Tj ET Q q 0 0 0 rg BT 550.95 223.70 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 214.10 Td (the ) Tj ET Q q 0 0 0 rg BT 61.43 214.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 79.59 214.10 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 99.96 214.10 Td (Rate ) Tj ET Q q 0 0 0 rg BT 116.78 214.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 137.60 214.10 Td (will ) Tj ET Q q 0 0 0 rg BT 152.20 214.10 Td (reduce ) Tj ET Q q 0 0 0 rg BT 175.68 214.10 Td (our ) Tj ET Q q 0 0 0 rg BT 188.50 214.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 204.87 214.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 230.57 214.10 Td (costs. ) Tj ET Q q 0 0 0 rg BT 250.73 214.10 Td (However) Tj ET Q q 0 0 0 rg BT 279.73 214.10 Td (, ) Tj ET Q q 0 0 0 rg BT 283.88 214.10 Td (we ) Tj ET Q q 0 0 0 rg BT 295.37 214.10 Td (may ) Tj ET Q q 0 0 0 rg BT 311.30 214.10 Td (be ) Tj ET Q q 0 0 0 rg BT 321.00 214.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 345.82 214.10 Td (to ) Tj ET Q q 0 0 0 rg BT 354.20 214.10 Td (downgrades ) Tj ET Q q 0 0 0 rg BT 395.01 214.10 Td (if ) Tj ET Q q 0 0 0 rg BT 402.05 214.10 Td (we ) Tj ET Q q 0 0 0 rg BT 413.54 214.10 Td (fail ) Tj ET Q q 0 0 0 rg BT 426.36 214.10 Td (to ) Tj ET Q q 0 0 0 rg BT 434.73 214.10 Td (maintain ) Tj ET Q q 0 0 0 rg BT 464.88 214.10 Td (adequate ) Tj ET Q q 0 0 0 rg BT 495.46 214.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 516.28 214.10 Td (of ) Tj ET Q q 0 0 0 rg BT 525.10 214.10 Td (liquidity) Tj ET Q q 0 0 0 rg BT 551.70 214.10 Td (. ) Tj ET Q q 0 0 0 rg BT 555.85 214.10 Td (In ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 204.50 Td (the ) Tj ET Q q 0 0 0 rg BT 61.01 204.50 Td (event ) Tj ET Q q 0 0 0 rg BT 80.07 204.50 Td (our ) Tj ET Q q 0 0 0 rg BT 92.48 204.50 Td (debt ) Tj ET Q q 0 0 0 rg BT 107.99 204.50 Td (or ) Tj ET Q q 0 0 0 rg BT 116.39 204.50 Td (corporate ) Tj ET Q q 0 0 0 rg BT 148.33 204.50 Td (credit ) Tj ET Q q 0 0 0 rg BT 168.28 204.50 Td (ratings ) Tj ET Q q 0 0 0 rg BT 191.79 204.50 Td (are ) Tj ET Q q 0 0 0 rg BT 203.30 204.50 Td (lowered ) Tj ET Q q 0 0 0 rg BT 230.80 204.50 Td (by ) Tj ET Q q 0 0 0 rg BT 240.54 204.50 Td (the ) Tj ET Q q 0 0 0 rg BT 252.05 204.50 Td (ratings ) Tj ET Q q 0 0 0 rg BT 275.56 204.50 Td (agencies, ) Tj ET Q q 0 0 0 rg BT 306.84 204.50 Td (it ) Tj ET Q q 0 0 0 rg BT 313.02 204.50 Td (will ) Tj ET Q q 0 0 0 rg BT 327.21 204.50 Td (be ) Tj ET Q q 0 0 0 rg BT 336.50 204.50 Td (more ) Tj ET Q q 0 0 0 rg BT 354.67 204.50 Td (dif) Tj ET Q q 0 0 0 rg BT 363.41 204.50 Td (ficult ) Tj ET Q q 0 0 0 rg BT 382.04 204.50 Td (for ) Tj ET Q q 0 0 0 rg BT 393.10 204.50 Td (us ) Tj ET Q q 0 0 0 rg BT 401.95 204.50 Td (to ) Tj ET Q q 0 0 0 rg BT 409.91 204.50 Td (refinance ) Tj ET Q q 0 0 0 rg BT 441.41 204.50 Td (our ) Tj ET Q q 0 0 0 rg BT 453.81 204.50 Td (existing ) Tj ET Q q 0 0 0 rg BT 480.88 204.50 Td (indebtedness ) Tj ET Q q 0 0 0 rg BT 523.94 204.50 Td (or ) Tj ET Q q 0 0 0 rg BT 532.34 204.50 Td (raise ) Tj ET Q q 0 0 0 rg BT 549.18 204.50 Td (new ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 194.90 Td (indebtedness ) Tj ET Q q 0 0 0 rg BT 93.62 194.90 Td (that ) Tj ET Q q 0 0 0 rg BT 108.41 194.90 Td (may ) Tj ET Q q 0 0 0 rg BT 124.98 194.90 Td (be ) Tj ET Q q 0 0 0 rg BT 135.32 194.90 Td (permitted ) Tj ET Q q 0 0 0 rg BT 168.78 194.90 Td (under ) Tj ET Q q 0 0 0 rg BT 189.79 194.90 Td (our ) Tj ET Q q 0 0 0 rg BT 203.24 194.90 Td (indentures ) Tj ET Q q 0 0 0 rg BT 239.36 194.90 Td (or ) Tj ET Q q 0 0 0 rg BT 248.82 194.90 Td (the ) Tj ET Q q 0 0 0 rg BT 261.39 194.90 Td (2017 ) Tj ET Q q 0 0 0 rg BT 279.98 194.90 Td (T) Tj ET Q q 0 0 0 rg BT 284.31 194.90 Td (erm ) Tj ET Q q 0 0 0 rg BT 299.54 194.90 Td (Loan ) Tj ET Q q 0 0 0 rg BT 318.16 194.90 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 358.49 194.90 Td (the ) Tj ET Q q 0 0 0 rg BT 371.06 194.90 Td (2017 ) Tj ET Q q 0 0 0 rg BT 389.86 194.90 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 425.98 194.90 Td (Loan ) Tj ET Q q 0 0 0 rg BT 444.60 194.90 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 484.93 194.90 Td (and ) Tj ET Q q 0 0 0 rg BT 499.28 194.90 Td (the ) Tj ET Q q 0 0 0 rg BT 511.85 194.90 Td (Reimbursement ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 185.30 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 89.04 185.30 Td (and ) Tj ET Q q 0 0 0 rg BT 102.59 185.30 Td (we ) Tj ET Q q 0 0 0 rg BT 113.92 185.30 Td (will ) Tj ET Q q 0 0 0 rg BT 128.36 185.30 Td (have ) Tj ET Q q 0 0 0 rg BT 145.46 185.30 Td (to ) Tj ET Q q 0 0 0 rg BT 153.69 185.30 Td (pay ) Tj ET Q q 0 0 0 rg BT 167.24 185.30 Td (higher ) Tj ET Q q 0 0 0 rg BT 189.68 185.30 Td (interest ) Tj ET Q q 0 0 0 rg BT 215.22 185.30 Td (rates, ) Tj ET Q q 0 0 0 rg BT 234.32 185.30 Td (which ) Tj ET Q q 0 0 0 rg BT 255.88 185.30 Td (would ) Tj ET Q q 0 0 0 rg BT 277.88 185.30 Td (have ) Tj ET Q q 0 0 0 rg BT 294.98 185.30 Td (an ) Tj ET Q q 0 0 0 rg BT 304.53 185.30 Td (adverse ) Tj ET Q q 0 0 0 rg BT 330.96 185.30 Td (ef) Tj ET Q q 0 0 0 rg BT 337.03 185.30 Td (fect ) Tj ET Q q 0 0 0 rg BT 351.02 185.30 Td (on ) Tj ET Q q 0 0 0 rg BT 361.02 185.30 Td (our ) Tj ET Q q 0 0 0 rg BT 373.68 185.30 Td (financial ) Tj ET Q q 0 0 0 rg BT 403.66 185.30 Td (position, ) Tj ET Q q 0 0 0 rg BT 433.45 185.30 Td (results ) Tj ET Q q 0 0 0 rg BT 456.33 185.30 Td (of ) Tj ET Q q 0 0 0 rg BT 465.00 185.30 Td (operations ) Tj ET Q q 0 0 0 rg BT 500.32 185.30 Td (and ) Tj ET Q q 0 0 0 rg BT 513.87 185.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 530.09 185.30 Td (flows.) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 169.70 Td (If ) Tj ET Q q 0 0 0 rg BT 57.28 169.70 Td (our ) Tj ET Q q 0 0 0 rg BT 70.84 169.70 Td (goodwill, ) Tj ET Q q 0 0 0 rg BT 102.84 169.70 Td (other ) Tj ET Q q 0 0 0 rg BT 122.18 169.70 Td (intangible ) Tj ET Q q 0 0 0 rg BT 157.52 169.70 Td (assets ) Tj ET Q q 0 0 0 rg BT 178.63 169.70 Td (and ) Tj ET Q q 0 0 0 rg BT 193.08 169.70 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 227.96 169.70 Td (assets ) Tj ET Q q 0 0 0 rg BT 249.08 169.70 Td (become ) Tj ET Q q 0 0 0 rg BT 275.95 169.70 Td (impaired, ) Tj ET Q q 0 0 0 rg BT 309.29 169.70 Td (we ) Tj ET Q q 0 0 0 rg BT 320.17 169.70 Td (may ) Tj ET Q q 0 0 0 rg BT 335.95 169.70 Td (be ) Tj ET Q q 0 0 0 rg BT 345.50 169.70 Td (required ) Tj ET Q q 0 0 0 rg BT 375.50 169.70 Td (to ) Tj ET Q q 0 0 0 rg BT 383.72 169.70 Td (record ) Tj ET Q q 0 0 0 rg BT 407.05 169.70 Td (significant ) Tj ET Q q 0 0 0 rg BT 444.16 169.70 Td (charges ) Tj ET Q q 0 0 0 rg BT 471.94 169.70 Td (to ) Tj ET Q q 0 0 0 rg BT 480.16 169.70 Td (earnings.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 154.10 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 154.10 Td (e ) Tj ET Q q 0 0 0 rg BT 62.34 154.10 Td (review ) Tj ET Q q 0 0 0 rg BT 86.48 154.10 Td (our ) Tj ET Q q 0 0 0 rg BT 99.52 154.10 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 134.78 154.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 155.82 154.10 Td (for ) Tj ET Q q 0 0 0 rg BT 167.52 154.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 206.78 154.10 Td (when ) Tj ET Q q 0 0 0 rg BT 226.48 154.10 Td (events ) Tj ET Q q 0 0 0 rg BT 249.29 154.10 Td (or ) Tj ET Q q 0 0 0 rg BT 258.33 154.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 286.48 154.10 Td (in ) Tj ET Q q 0 0 0 rg BT 295.07 154.10 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 342.76 154.10 Td (indicate ) Tj ET Q q 0 0 0 rg BT 370.46 154.10 Td (the ) Tj ET Q q 0 0 0 rg BT 382.61 154.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 411.64 154.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 438.01 154.10 Td (may ) Tj ET Q q 0 0 0 rg BT 454.16 154.10 Td (not ) Tj ET Q q 0 0 0 rg BT 466.76 154.10 Td (be ) Tj ET Q q 0 0 0 rg BT 476.68 154.10 Td (recoverable. ) Tj ET Q q 0 0 0 rg BT 518.36 154.10 Td (Goodwill ) Tj ET Q q 0 0 0 rg BT 550.96 154.10 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 144.50 Td (indefinite-lived ) Tj ET Q q 0 0 0 rg BT 100.58 144.50 Td (intangible ) Tj ET Q q 0 0 0 rg BT 134.34 144.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 154.77 144.50 Td (are ) Tj ET Q q 0 0 0 rg BT 166.30 144.50 Td (required ) Tj ET Q q 0 0 0 rg BT 194.71 144.50 Td (to ) Tj ET Q q 0 0 0 rg BT 202.70 144.50 Td (be ) Tj ET Q q 0 0 0 rg BT 212.02 144.50 Td (assessed ) Tj ET Q q 0 0 0 rg BT 240.89 144.50 Td (for ) Tj ET Q q 0 0 0 rg BT 251.98 144.50 Td (impairment ) Tj ET Q q 0 0 0 rg BT 290.62 144.50 Td (at ) Tj ET Q q 0 0 0 rg BT 298.16 144.50 Td (least ) Tj ET Q q 0 0 0 rg BT 314.59 144.50 Td (annually) Tj ET Q q 0 0 0 rg BT 341.61 144.50 Td (. ) Tj ET Q q 0 0 0 rg BT 345.38 144.50 Td (Factors ) Tj ET Q q 0 0 0 rg BT 370.69 144.50 Td (that ) Tj ET Q q 0 0 0 rg BT 384.45 144.50 Td (may ) Tj ET Q q 0 0 0 rg BT 399.99 144.50 Td (be ) Tj ET Q q 0 0 0 rg BT 409.31 144.50 Td (considered ) Tj ET Q q 0 0 0 rg BT 445.72 144.50 Td (a ) Tj ET Q q 0 0 0 rg BT 451.04 144.50 Td (change ) Tj ET Q q 0 0 0 rg BT 475.46 144.50 Td (in ) Tj ET Q q 0 0 0 rg BT 483.44 144.50 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 530.52 144.50 Td (indicating ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 134.90 Td (that ) Tj ET Q q 0 0 0 rg BT 63.19 134.90 Td (the ) Tj ET Q q 0 0 0 rg BT 74.65 134.90 Td (carrying ) Tj ET Q q 0 0 0 rg BT 103.00 134.90 Td (amount ) Tj ET Q q 0 0 0 rg BT 128.69 134.90 Td (of ) Tj ET Q q 0 0 0 rg BT 137.04 134.90 Td (our ) Tj ET Q q 0 0 0 rg BT 149.40 134.90 Td (goodwill, ) Tj ET Q q 0 0 0 rg BT 181.54 134.90 Td (indefinite-lived ) Tj ET Q q 0 0 0 rg BT 232.55 134.90 Td (intangible ) Tj ET Q q 0 0 0 rg BT 266.23 134.90 Td (assets ) Tj ET Q q 0 0 0 rg BT 286.59 134.90 Td (or ) Tj ET Q q 0 0 0 rg BT 294.94 134.90 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 329.52 134.90 Td (assets ) Tj ET Q q 0 0 0 rg BT 349.88 134.90 Td (may ) Tj ET Q q 0 0 0 rg BT 365.34 134.90 Td (not ) Tj ET Q q 0 0 0 rg BT 377.26 134.90 Td (be ) Tj ET Q q 0 0 0 rg BT 386.50 134.90 Td (recoverable ) Tj ET Q q 0 0 0 rg BT 425.50 134.90 Td (include ) Tj ET Q q 0 0 0 rg BT 450.74 134.90 Td (slower ) Tj ET Q q 0 0 0 rg BT 473.76 134.90 Td (growth ) Tj ET Q q 0 0 0 rg BT 498.11 134.90 Td (rates ) Tj ET Q q 0 0 0 rg BT 514.91 134.90 Td (in ) Tj ET Q q 0 0 0 rg BT 522.82 134.90 Td (our ) Tj ET Q q 0 0 0 rg BT 535.18 134.90 Td (markets, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 125.30 Td (reduced ) Tj ET Q q 0 0 0 rg BT 76.79 125.30 Td (expected ) Tj ET Q q 0 0 0 rg BT 107.19 125.30 Td (future ) Tj ET Q q 0 0 0 rg BT 128.26 125.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 144.45 125.30 Td (flows, ) Tj ET Q q 0 0 0 rg BT 166.19 125.30 Td (increased ) Tj ET Q q 0 0 0 rg BT 198.37 125.30 Td (country ) Tj ET Q q 0 0 0 rg BT 224.78 125.30 Td (risk ) Tj ET Q q 0 0 0 rg BT 238.75 125.30 Td (premium ) Tj ET Q q 0 0 0 rg BT 269.60 125.30 Td (as ) Tj ET Q q 0 0 0 rg BT 278.24 125.30 Td (a ) Tj ET Q q 0 0 0 rg BT 283.76 125.30 Td (result ) Tj ET Q q 0 0 0 rg BT 303.51 125.30 Td (of ) Tj ET Q q 0 0 0 rg BT 312.14 125.30 Td (political ) Tj ET Q q 0 0 0 rg BT 340.33 125.30 Td (uncertainty ) Tj ET Q q 0 0 0 rg BT 378.29 125.30 Td (and ) Tj ET Q q 0 0 0 rg BT 391.81 125.30 Td (a ) Tj ET Q q 0 0 0 rg BT 397.33 125.30 Td (decline ) Tj ET Q q 0 0 0 rg BT 422.40 125.30 Td (in ) Tj ET Q q 0 0 0 rg BT 430.59 125.30 Td (stock ) Tj ET Q q 0 0 0 rg BT 449.45 125.30 Td (price ) Tj ET Q q 0 0 0 rg BT 467.41 125.30 Td (and ) Tj ET Q q 0 0 0 rg BT 480.94 125.30 Td (market ) Tj ET Q q 0 0 0 rg BT 505.12 125.30 Td (capitalization. ) Tj ET Q q 0 0 0 rg BT 552.04 125.30 Td (W) Tj ET Q q 0 0 0 rg BT 558.95 125.30 Td (e ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 115.70 Td (consider ) Tj ET Q q 0 0 0 rg BT 78.78 115.70 Td (available ) Tj ET Q q 0 0 0 rg BT 109.83 115.70 Td (current ) Tj ET Q q 0 0 0 rg BT 134.67 115.70 Td (information ) Tj ET Q q 0 0 0 rg BT 174.62 115.70 Td (when ) Tj ET Q q 0 0 0 rg BT 194.13 115.70 Td (calculating ) Tj ET Q q 0 0 0 rg BT 231.40 115.70 Td (our ) Tj ET Q q 0 0 0 rg BT 244.25 115.70 Td (impairment ) Tj ET Q q 0 0 0 rg BT 283.30 115.70 Td (char) Tj ET Q q 0 0 0 rg BT 296.93 115.70 Td (ge. ) Tj ET Q q 0 0 0 rg BT 308.66 115.70 Td (If ) Tj ET Q q 0 0 0 rg BT 316.17 115.70 Td (there ) Tj ET Q q 0 0 0 rg BT 334.33 115.70 Td (are ) Tj ET Q q 0 0 0 rg BT 346.28 115.70 Td (indicators ) Tj ET Q q 0 0 0 rg BT 380.01 115.70 Td (of ) Tj ET Q q 0 0 0 rg BT 388.85 115.70 Td (impairment, ) Tj ET Q q 0 0 0 rg BT 429.91 115.70 Td (our ) Tj ET Q q 0 0 0 rg BT 442.76 115.70 Td (long-term ) Tj ET Q q 0 0 0 rg BT 476.49 115.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 492.88 115.70 Td (flow ) Tj ET Q q 0 0 0 rg BT 509.73 115.70 Td (forecasts ) Tj ET Q q 0 0 0 rg BT 540.34 115.70 Td (for ) Tj ET Q q 0 0 0 rg BT 551.84 115.70 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 106.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 84.88 106.10 Td (deteriorate ) Tj ET Q q 0 0 0 rg BT 121.14 106.10 Td (or ) Tj ET Q q 0 0 0 rg BT 129.87 106.10 Td (discount ) Tj ET Q q 0 0 0 rg BT 159.04 106.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 176.20 106.10 Td (increase, ) Tj ET Q q 0 0 0 rg BT 206.46 106.10 Td (we ) Tj ET Q q 0 0 0 rg BT 217.85 106.10 Td (may ) Tj ET Q q 0 0 0 rg BT 233.69 106.10 Td (be ) Tj ET Q q 0 0 0 rg BT 243.30 106.10 Td (required ) Tj ET Q q 0 0 0 rg BT 272.01 106.10 Td (to ) Tj ET Q q 0 0 0 rg BT 280.29 106.10 Td (recognize ) Tj ET Q q 0 0 0 rg BT 313.45 106.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 347.50 106.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 386.44 106.10 Td (char) Tj ET Q q 0 0 0 rg BT 400.06 106.10 Td (ges ) Tj ET Q q 0 0 0 rg BT 412.78 106.10 Td (in ) Tj ET Q q 0 0 0 rg BT 421.07 106.10 Td (later ) Tj ET Q q 0 0 0 rg BT 437.34 106.10 Td (periods. ) Tj ET Q q 0 0 0 rg BT 464.95 106.10 Td (See ) Tj ET Q q 0 0 0 rg BT 478.56 106.10 Td (Item ) Tj ET Q q 0 0 0 rg BT 495.28 106.10 Td (8, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 503.34 106.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 520.95 106.10 Td (4, ) Tj ET Q q 0 0 0 rg BT 529.01 106.10 Td ("Goodwill ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 96.50 Td (and ) Tj ET Q q 0 0 0 rg BT 63.05 96.50 Td (Intangible ) Tj ET Q q 0 0 0 rg BT 97.04 96.50 Td (Assets") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 121.20 96.50 Td ( ) Tj ET Q q 0 0 0 rg BT 123.20 96.50 Td (for ) Tj ET Q q 0 0 0 rg BT 134.53 96.50 Td (the ) Tj ET Q q 0 0 0 rg BT 146.30 96.50 Td (carrying ) Tj ET Q q 0 0 0 rg BT 174.95 96.50 Td (amounts ) Tj ET Q q 0 0 0 rg BT 204.06 96.50 Td (of ) Tj ET Q q 0 0 0 rg BT 212.73 96.50 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 243.17 96.50 Td (in ) Tj ET Q q 0 0 0 rg BT 251.39 96.50 Td (each ) Tj ET Q q 0 0 0 rg BT 268.05 96.50 Td (of ) Tj ET Q q 0 0 0 rg BT 276.71 96.50 Td (our ) Tj ET Q q 0 0 0 rg BT 289.38 96.50 Td (reporting ) Tj ET Q q 0 0 0 rg BT 320.70 96.50 Td (units.) Tj ET Q endstream endobj 29 0 obj <>] /Rotate 0 /Contents 30 0 R>> endobj 30 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (12) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 723.60 Td (Changes ) Tj ET Q q 0 0 0 rg BT 80.40 723.60 Td (to ) Tj ET Q q 0 0 0 rg BT 88.62 723.60 Td (our ) Tj ET Q q 0 0 0 rg BT 102.18 723.60 Td (business ) Tj ET Q q 0 0 0 rg BT 132.20 723.60 Td (could ) Tj ET Q q 0 0 0 rg BT 152.42 723.60 Td (result ) Tj ET Q q 0 0 0 rg BT 173.09 723.60 Td (in ) Tj ET Q q 0 0 0 rg BT 181.76 723.60 Td (future ) Tj ET Q q 0 0 0 rg BT 204.21 723.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 222.21 723.60 Td (or ) Tj ET Q q 0 0 0 rg BT 231.32 723.60 Td (charges.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 708.00 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 708.00 Td (e ) Tj ET Q q 0 0 0 rg BT 61.46 708.00 Td (periodically ) Tj ET Q q 0 0 0 rg BT 101.16 708.00 Td (adjust ) Tj ET Q q 0 0 0 rg BT 121.77 708.00 Td (our ) Tj ET Q q 0 0 0 rg BT 133.93 708.00 Td (business ) Tj ET Q q 0 0 0 rg BT 162.54 708.00 Td (strategy ) Tj ET Q q 0 0 0 rg BT 189.37 708.00 Td (in ) Tj ET Q q 0 0 0 rg BT 197.09 708.00 Td (response ) Tj ET Q q 0 0 0 rg BT 226.58 708.00 Td (to ) Tj ET Q q 0 0 0 rg BT 234.30 708.00 Td (particular ) Tj ET Q q 0 0 0 rg BT 266.45 708.00 Td (events ) Tj ET Q q 0 0 0 rg BT 288.38 708.00 Td (and ) Tj ET Q q 0 0 0 rg BT 301.43 708.00 Td (circumstances, ) Tj ET Q q 0 0 0 rg BT 350.24 708.00 Td (including ) Tj ET Q q 0 0 0 rg BT 381.96 708.00 Td (economic ) Tj ET Q q 0 0 0 rg BT 414.55 708.00 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 451.38 708.00 Td (industry ) Tj ET Q q 0 0 0 rg BT 479.10 708.00 Td (changes ) Tj ET Q q 0 0 0 rg BT 506.37 708.00 Td (and ) Tj ET Q q 0 0 0 rg BT 519.42 708.00 Td (technological ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 698.40 Td (developments. ) Tj ET Q q 0 0 0 rg BT 98.45 698.40 Td (In ) Tj ET Q q 0 0 0 rg BT 107.63 698.40 Td (connection ) Tj ET Q q 0 0 0 rg BT 145.24 698.40 Td (with ) Tj ET Q q 0 0 0 rg BT 161.97 698.40 Td (the ) Tj ET Q q 0 0 0 rg BT 174.26 698.40 Td (implementation ) Tj ET Q q 0 0 0 rg BT 226.98 698.40 Td (of ) Tj ET Q q 0 0 0 rg BT 236.16 698.40 Td (new ) Tj ET Q q 0 0 0 rg BT 252.00 698.40 Td (strategies, ) Tj ET Q q 0 0 0 rg BT 286.73 698.40 Td (we ) Tj ET Q q 0 0 0 rg BT 298.57 698.40 Td (may ) Tj ET Q q 0 0 0 rg BT 314.86 698.40 Td (decide ) Tj ET Q q 0 0 0 rg BT 338.25 698.40 Td (to ) Tj ET Q q 0 0 0 rg BT 346.98 698.40 Td (restructure ) Tj ET Q q 0 0 0 rg BT 383.70 698.40 Td (certain ) Tj ET Q q 0 0 0 rg BT 407.97 698.40 Td (of ) Tj ET Q q 0 0 0 rg BT 417.15 698.40 Td (our ) Tj ET Q q 0 0 0 rg BT 430.33 698.40 Td (operations, ) Tj ET Q q 0 0 0 rg BT 468.17 698.40 Td (business ) Tj ET Q q 0 0 0 rg BT 497.79 698.40 Td (or ) Tj ET Q q 0 0 0 rg BT 506.97 698.40 Td (assets ) Tj ET Q q 0 0 0 rg BT 528.15 698.40 Td (in ) Tj ET Q q 0 0 0 rg BT 536.89 698.40 Td (order ) Tj ET Q q 0 0 0 rg BT 556.28 698.40 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 688.80 Td (optimize ) Tj ET Q q 0 0 0 rg BT 79.21 688.80 Td (our ) Tj ET Q q 0 0 0 rg BT 91.58 688.80 Td (cost ) Tj ET Q q 0 0 0 rg BT 106.18 688.80 Td (structure ) Tj ET Q q 0 0 0 rg BT 135.88 688.80 Td (and ) Tj ET Q q 0 0 0 rg BT 149.15 688.80 Td (capture ) Tj ET Q q 0 0 0 rg BT 174.40 688.80 Td (operating ) Tj ET Q q 0 0 0 rg BT 206.32 688.80 Td (ef) Tj ET Q q 0 0 0 rg BT 212.39 688.80 Td (ficiencies. ) Tj ET Q q 0 0 0 rg BT 246.75 688.80 Td (For ) Tj ET Q q 0 0 0 rg BT 259.58 688.80 Td (example, ) Tj ET Q q 0 0 0 rg BT 290.39 688.80 Td (we ) Tj ET Q q 0 0 0 rg BT 301.43 688.80 Td (incurred ) Tj ET Q q 0 0 0 rg BT 329.80 688.80 Td (char) Tj ET Q q 0 0 0 rg BT 343.42 688.80 Td (ges ) Tj ET Q q 0 0 0 rg BT 355.79 688.80 Td (of ) Tj ET Q q 0 0 0 rg BT 364.17 688.80 Td (approximately ) Tj ET Q q 0 0 0 rg BT 412.09 688.80 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.03 688.80 Td (9.9 ) Tj ET Q q 0 0 0 rg BT 439.74 688.80 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.86 688.80 Td ( ) Tj ET Q q 0 0 0 rg BT 464.57 688.80 Td (related ) Tj ET Q q 0 0 0 rg BT 488.04 688.80 Td (to ) Tj ET Q q 0 0 0 rg BT 495.98 688.80 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 538.57 688.80 Td (in ) Tj ET Q q 0 0 0 rg BT 546.50 688.80 Td (2014 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 679.20 Td (and ) Tj ET Q q 0 0 0 rg BT 63.36 679.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 79.90 679.20 Td (18.5 ) Tj ET Q q 0 0 0 rg BT 96.21 679.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 119.32 679.20 Td ( ) Tj ET Q q 0 0 0 rg BT 121.63 679.20 Td (in ) Tj ET Q q 0 0 0 rg BT 130.17 679.20 Td (2013 ) Tj ET Q q 0 0 0 rg BT 148.48 679.20 Td (and ) Tj ET Q q 0 0 0 rg BT 162.34 679.20 Td (total ) Tj ET Q q 0 0 0 rg BT 178.87 679.20 Td (severance ) Tj ET Q q 0 0 0 rg BT 212.71 679.20 Td (costs ) Tj ET Q q 0 0 0 rg BT 231.02 679.20 Td (of ) Tj ET Q q 0 0 0 rg BT 239.99 679.20 Td (approximately ) Tj ET Q q 0 0 0 rg BT 288.51 679.20 Td (US$ ) Tj ET Q q 0 0 0 rg BT 305.05 679.20 Td (7.1 ) Tj ET Q q 0 0 0 rg BT 317.36 679.20 Td (million ) Tj ET Q q 0 0 0 rg BT 342.78 679.20 Td (during ) Tj ET Q q 0 0 0 rg BT 365.98 679.20 Td (2013. ) Tj ET Q q 0 0 0 rg BT 386.12 679.20 Td (W) Tj ET Q q 0 0 0 rg BT 393.03 679.20 Td (e ) Tj ET Q q 0 0 0 rg BT 398.90 679.20 Td (expect ) Tj ET Q q 0 0 0 rg BT 422.08 679.20 Td (to ) Tj ET Q q 0 0 0 rg BT 430.61 679.20 Td (pursue ) Tj ET Q q 0 0 0 rg BT 454.25 679.20 Td (limited ) Tj ET Q q 0 0 0 rg BT 479.23 679.20 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 522.41 679.20 Td (initiatives ) Tj ET Q q 0 0 0 rg BT 556.27 679.20 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 669.60 Td (2015 ) Tj ET Q q 0 0 0 rg BT 68.18 669.60 Td (and ) Tj ET Q q 0 0 0 rg BT 82.41 669.60 Td (expect ) Tj ET Q q 0 0 0 rg BT 105.97 669.60 Td (to ) Tj ET Q q 0 0 0 rg BT 114.88 669.60 Td (incur ) Tj ET Q q 0 0 0 rg BT 133.99 669.60 Td (related ) Tj ET Q q 0 0 0 rg BT 158.44 669.60 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 201.99 669.60 Td (char) Tj ET Q q 0 0 0 rg BT 215.62 669.60 Td (ges. ) Tj ET Q q 0 0 0 rg BT 230.96 669.60 Td (Similar ) Tj ET Q q 0 0 0 rg BT 257.20 669.60 Td (events ) Tj ET Q q 0 0 0 rg BT 280.32 669.60 Td (in ) Tj ET Q q 0 0 0 rg BT 289.22 669.60 Td (the ) Tj ET Q q 0 0 0 rg BT 301.68 669.60 Td (future ) Tj ET Q q 0 0 0 rg BT 323.46 669.60 Td (could ) Tj ET Q q 0 0 0 rg BT 343.91 669.60 Td (also ) Tj ET Q q 0 0 0 rg BT 359.48 669.60 Td (result ) Tj ET Q q 0 0 0 rg BT 379.94 669.60 Td (in ) Tj ET Q q 0 0 0 rg BT 388.84 669.60 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 432.40 669.60 Td (and ) Tj ET Q q 0 0 0 rg BT 446.63 669.60 Td (other ) Tj ET Q q 0 0 0 rg BT 465.75 669.60 Td (char) Tj ET Q q 0 0 0 rg BT 479.37 669.60 Td (ges ) Tj ET Q q 0 0 0 rg BT 492.72 669.60 Td (and ) Tj ET Q q 0 0 0 rg BT 506.95 669.60 Td (the ) Tj ET Q q 0 0 0 rg BT 519.40 669.60 Td (incurrence ) Tj ET Q q 0 0 0 rg BT 555.84 669.60 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 660.00 Td (additional ) Tj ET Q q 0 0 0 rg BT 83.50 660.00 Td (costs ) Tj ET Q q 0 0 0 rg BT 101.51 660.00 Td (or ) Tj ET Q q 0 0 0 rg BT 110.18 660.00 Td (may ) Tj ET Q q 0 0 0 rg BT 125.96 660.00 Td (require ) Tj ET Q q 0 0 0 rg BT 150.63 660.00 Td (significant ) Tj ET Q q 0 0 0 rg BT 186.40 660.00 Td (management ) Tj ET Q q 0 0 0 rg BT 229.28 660.00 Td (time ) Tj ET Q q 0 0 0 rg BT 245.51 660.00 Td (to ) Tj ET Q q 0 0 0 rg BT 253.74 660.00 Td (implement. ) Tj ET Q q 0 0 0 rg BT 291.97 660.00 Td (If ) Tj ET Q q 0 0 0 rg BT 299.30 660.00 Td (any ) Tj ET Q q 0 0 0 rg BT 312.86 660.00 Td (such ) Tj ET Q q 0 0 0 rg BT 329.54 660.00 Td (char) Tj ET Q q 0 0 0 rg BT 343.16 660.00 Td (ges ) Tj ET Q q 0 0 0 rg BT 355.83 660.00 Td (are ) Tj ET Q q 0 0 0 rg BT 367.60 660.00 Td (material, ) Tj ET Q q 0 0 0 rg BT 397.82 660.00 Td (they ) Tj ET Q q 0 0 0 rg BT 413.60 660.00 Td (could ) Tj ET Q q 0 0 0 rg BT 433.38 660.00 Td (have ) Tj ET Q q 0 0 0 rg BT 450.50 660.00 Td (an ) Tj ET Q q 0 0 0 rg BT 460.05 660.00 Td (adverse ) Tj ET Q q 0 0 0 rg BT 486.49 660.00 Td (impact ) Tj ET Q q 0 0 0 rg BT 510.27 660.00 Td (on ) Tj ET Q q 0 0 0 rg BT 520.28 660.00 Td (our ) Tj ET Q q 0 0 0 rg BT 532.95 660.00 Td (results ) Tj ET Q q 0 0 0 rg BT 555.85 660.00 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 650.40 Td (operations ) Tj ET Q q 0 0 0 rg BT 84.82 650.40 Td (and ) Tj ET Q q 0 0 0 rg BT 98.38 650.40 Td (cash ) Tj ET Q q 0 0 0 rg BT 114.59 650.40 Td (flows.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 630.50 Td (Risks ) Tj ET Q q 0 0 0 rg BT 70.18 630.50 Td (Relating ) Tj ET Q q 0 0 0 rg BT 101.06 630.50 Td (to ) Tj ET Q q 0 0 0 rg BT 109.73 630.50 Td (Our) Tj ET Q q 0 0 0 rg BT 123.80 630.50 Td ( ) Tj ET Q q 0 0 0 rg BT 125.80 630.50 Td (Operations) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 610.55 Td (Programming ) Tj ET Q q 0 0 0 rg BT 97.23 610.55 Td (content ) Tj ET Q q 0 0 0 rg BT 123.18 610.55 Td (may ) Tj ET Q q 0 0 0 rg BT 138.46 610.55 Td (become ) Tj ET Q q 0 0 0 rg BT 164.83 610.55 Td (more ) Tj ET Q q 0 0 0 rg BT 183.22 610.55 Td (expensive ) Tj ET Q q 0 0 0 rg BT 216.71 610.55 Td (to ) Tj ET Q q 0 0 0 rg BT 224.44 610.55 Td (produce ) Tj ET Q q 0 0 0 rg BT 252.60 610.55 Td (or ) Tj ET Q q 0 0 0 rg BT 261.22 610.55 Td (acquire ) Tj ET Q q 0 0 0 rg BT 287.61 610.55 Td (or ) Tj ET Q q 0 0 0 rg BT 296.22 610.55 Td (we ) Tj ET Q q 0 0 0 rg BT 306.61 610.55 Td (may ) Tj ET Q q 0 0 0 rg BT 321.88 610.55 Td (not ) Tj ET Q q 0 0 0 rg BT 334.06 610.55 Td (be ) Tj ET Q q 0 0 0 rg BT 343.11 610.55 Td (able ) Tj ET Q q 0 0 0 rg BT 358.39 610.55 Td (to ) Tj ET Q q 0 0 0 rg BT 366.11 610.55 Td (develop ) Tj ET Q q 0 0 0 rg BT 392.49 610.55 Td (or ) Tj ET Q q 0 0 0 rg BT 401.10 610.55 Td (acquire ) Tj ET Q q 0 0 0 rg BT 427.49 610.55 Td (content ) Tj ET Q q 0 0 0 rg BT 453.44 610.55 Td (that ) Tj ET Q q 0 0 0 rg BT 467.84 610.55 Td (is ) Tj ET Q q 0 0 0 rg BT 474.67 610.55 Td (attractive ) Tj ET Q q 0 0 0 rg BT 506.83 610.55 Td (to ) Tj ET Q q 0 0 0 rg BT 514.56 610.55 Td (our ) Tj ET Q q 0 0 0 rg BT 527.62 610.55 Td (audiences.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 594.95 Td (T) Tj ET Q q 0 0 0 rg BT 53.83 594.95 Td (elevision ) Tj ET Q q 0 0 0 rg BT 84.76 594.95 Td (programming ) Tj ET Q q 0 0 0 rg BT 130.35 594.95 Td (is ) Tj ET Q q 0 0 0 rg BT 137.73 594.95 Td (one ) Tj ET Q q 0 0 0 rg BT 151.32 594.95 Td (of ) Tj ET Q q 0 0 0 rg BT 160.03 594.95 Td (the ) Tj ET Q q 0 0 0 rg BT 171.85 594.95 Td (most ) Tj ET Q q 0 0 0 rg BT 189.46 594.95 Td (significant ) Tj ET Q q 0 0 0 rg BT 225.27 594.95 Td (components ) Tj ET Q q 0 0 0 rg BT 265.97 594.95 Td (of ) Tj ET Q q 0 0 0 rg BT 274.68 594.95 Td (our ) Tj ET Q q 0 0 0 rg BT 287.39 594.95 Td (operating ) Tj ET Q q 0 0 0 rg BT 319.65 594.95 Td (costs. ) Tj ET Q q 0 0 0 rg BT 339.55 594.95 Td (The ) Tj ET Q q 0 0 0 rg BT 354.03 594.95 Td (ability ) Tj ET Q q 0 0 0 rg BT 376.51 594.95 Td (of ) Tj ET Q q 0 0 0 rg BT 385.22 594.95 Td (programming ) Tj ET Q q 0 0 0 rg BT 430.81 594.95 Td (to ) Tj ET Q q 0 0 0 rg BT 439.08 594.95 Td (generate ) Tj ET Q q 0 0 0 rg BT 468.22 594.95 Td (advertising ) Tj ET Q q 0 0 0 rg BT 505.81 594.95 Td (revenues ) Tj ET Q q 0 0 0 rg BT 536.28 594.95 Td (depends ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 585.35 Td (substantially ) Tj ET Q q 0 0 0 rg BT 91.50 585.35 Td (on ) Tj ET Q q 0 0 0 rg BT 101.05 585.35 Td (our ) Tj ET Q q 0 0 0 rg BT 113.27 585.35 Td (ability ) Tj ET Q q 0 0 0 rg BT 135.27 585.35 Td (to ) Tj ET Q q 0 0 0 rg BT 143.04 585.35 Td (develop, ) Tj ET Q q 0 0 0 rg BT 171.92 585.35 Td (produce ) Tj ET Q q 0 0 0 rg BT 199.24 585.35 Td (or ) Tj ET Q q 0 0 0 rg BT 207.46 585.35 Td (acquire ) Tj ET Q q 0 0 0 rg BT 232.55 585.35 Td (programming ) Tj ET Q q 0 0 0 rg BT 277.66 585.35 Td (that ) Tj ET Q q 0 0 0 rg BT 291.21 585.35 Td (matches ) Tj ET Q q 0 0 0 rg BT 318.97 585.35 Td (audience ) Tj ET Q q 0 0 0 rg BT 348.95 585.35 Td (tastes ) Tj ET Q q 0 0 0 rg BT 368.28 585.35 Td (and ) Tj ET Q q 0 0 0 rg BT 381.39 585.35 Td (attracts ) Tj ET Q q 0 0 0 rg BT 406.04 585.35 Td (high ) Tj ET Q q 0 0 0 rg BT 421.82 585.35 Td (audience ) Tj ET Q q 0 0 0 rg BT 451.80 585.35 Td (shares, ) Tj ET Q q 0 0 0 rg BT 475.34 585.35 Td (which ) Tj ET Q q 0 0 0 rg BT 496.45 585.35 Td (is ) Tj ET Q q 0 0 0 rg BT 503.34 585.35 Td (dif) Tj ET Q q 0 0 0 rg BT 512.08 585.35 Td (ficult ) Tj ET Q q 0 0 0 rg BT 530.52 585.35 Td (to ) Tj ET Q q 0 0 0 rg BT 538.30 585.35 Td (predict. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 575.75 Td (The ) Tj ET Q q 0 0 0 rg BT 63.63 575.75 Td (commercial ) Tj ET Q q 0 0 0 rg BT 103.08 575.75 Td (success ) Tj ET Q q 0 0 0 rg BT 128.76 575.75 Td (of ) Tj ET Q q 0 0 0 rg BT 137.11 575.75 Td (a ) Tj ET Q q 0 0 0 rg BT 142.35 575.75 Td (program ) Tj ET Q q 0 0 0 rg BT 171.15 575.75 Td (depends ) Tj ET Q q 0 0 0 rg BT 199.05 575.75 Td (on ) Tj ET Q q 0 0 0 rg BT 208.74 575.75 Td (several ) Tj ET Q q 0 0 0 rg BT 233.08 575.75 Td (tangible ) Tj ET Q q 0 0 0 rg BT 260.54 575.75 Td (and ) Tj ET Q q 0 0 0 rg BT 273.79 575.75 Td (intangible ) Tj ET Q q 0 0 0 rg BT 307.47 575.75 Td (factors, ) Tj ET Q q 0 0 0 rg BT 332.92 575.75 Td (including ) Tj ET Q q 0 0 0 rg BT 364.83 575.75 Td (the ) Tj ET Q q 0 0 0 rg BT 376.30 575.75 Td (impact ) Tj ET Q q 0 0 0 rg BT 399.76 575.75 Td (of ) Tj ET Q q 0 0 0 rg BT 408.11 575.75 Td (competing ) Tj ET Q q 0 0 0 rg BT 443.57 575.75 Td (programs, ) Tj ET Q q 0 0 0 rg BT 477.48 575.75 Td (the ) Tj ET Q q 0 0 0 rg BT 488.94 575.75 Td (availability ) Tj ET Q q 0 0 0 rg BT 526.62 575.75 Td (of ) Tj ET Q q 0 0 0 rg BT 534.97 575.75 Td (alternate ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 566.15 Td (forms ) Tj ET Q q 0 0 0 rg BT 69.84 566.15 Td (of ) Tj ET Q q 0 0 0 rg BT 78.19 566.15 Td (entertainment ) Tj ET Q q 0 0 0 rg BT 123.84 566.15 Td (and ) Tj ET Q q 0 0 0 rg BT 137.07 566.15 Td (leisure ) Tj ET Q q 0 0 0 rg BT 160.08 566.15 Td (time ) Tj ET Q q 0 0 0 rg BT 175.97 566.15 Td (activities, ) Tj ET Q q 0 0 0 rg BT 208.53 566.15 Td (our ) Tj ET Q q 0 0 0 rg BT 220.88 566.15 Td (ability ) Tj ET Q q 0 0 0 rg BT 243.00 566.15 Td (to ) Tj ET Q q 0 0 0 rg BT 250.90 566.15 Td (anticipate ) Tj ET Q q 0 0 0 rg BT 283.67 566.15 Td (and ) Tj ET Q q 0 0 0 rg BT 296.90 566.15 Td (adapt ) Tj ET Q q 0 0 0 rg BT 315.90 566.15 Td (to ) Tj ET Q q 0 0 0 rg BT 323.80 566.15 Td (changes ) Tj ET Q q 0 0 0 rg BT 351.25 566.15 Td (in ) Tj ET Q q 0 0 0 rg BT 359.15 566.15 Td (consumer ) Tj ET Q q 0 0 0 rg BT 391.93 566.15 Td (tastes ) Tj ET Q q 0 0 0 rg BT 411.38 566.15 Td (and ) Tj ET Q q 0 0 0 rg BT 424.61 566.15 Td (behavior) Tj ET Q q 0 0 0 rg BT 452.28 566.15 Td (, ) Tj ET Q q 0 0 0 rg BT 455.96 566.15 Td (and ) Tj ET Q q 0 0 0 rg BT 469.19 566.15 Td (general ) Tj ET Q q 0 0 0 rg BT 494.40 566.15 Td (economic ) Tj ET Q q 0 0 0 rg BT 527.18 566.15 Td (conditions. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 556.55 Td (While ) Tj ET Q q 0 0 0 rg BT 71.05 556.55 Td (our ) Tj ET Q q 0 0 0 rg BT 83.71 556.55 Td (content ) Tj ET Q q 0 0 0 rg BT 109.26 556.55 Td (costs ) Tj ET Q q 0 0 0 rg BT 127.27 556.55 Td (decreased ) Tj ET Q q 0 0 0 rg BT 160.80 556.55 Td (in ) Tj ET Q q 0 0 0 rg BT 169.02 556.55 Td (2014 ) Tj ET Q q 0 0 0 rg BT 187.03 556.55 Td (compared ) Tj ET Q q 0 0 0 rg BT 220.57 556.55 Td (to ) Tj ET Q q 0 0 0 rg BT 228.79 556.55 Td (2013, ) Tj ET Q q 0 0 0 rg BT 248.79 556.55 Td (the ) Tj ET Q q 0 0 0 rg BT 260.57 556.55 Td (cost ) Tj ET Q q 0 0 0 rg BT 275.46 556.55 Td (of ) Tj ET Q q 0 0 0 rg BT 284.12 556.55 Td (acquiring ) Tj ET Q q 0 0 0 rg BT 316.34 556.55 Td (content ) Tj ET Q q 0 0 0 rg BT 341.88 556.55 Td (attractive ) Tj ET Q q 0 0 0 rg BT 373.64 556.55 Td (to ) Tj ET Q q 0 0 0 rg BT 381.87 556.55 Td (our ) Tj ET Q q 0 0 0 rg BT 394.54 556.55 Td (viewers, ) Tj ET Q q 0 0 0 rg BT 423.42 556.55 Td (such ) Tj ET Q q 0 0 0 rg BT 440.08 556.55 Td (as ) Tj ET Q q 0 0 0 rg BT 448.75 556.55 Td (feature ) Tj ET Q q 0 0 0 rg BT 472.95 556.55 Td (films ) Tj ET Q q 0 0 0 rg BT 491.40 556.55 Td (and ) Tj ET Q q 0 0 0 rg BT 504.95 556.55 Td (popular ) Tj ET Q q 0 0 0 rg BT 531.39 556.55 Td (television ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 546.95 Td (series ) Tj ET Q q 0 0 0 rg BT 69.73 546.95 Td (and ) Tj ET Q q 0 0 0 rg BT 83.29 546.95 Td (formats, ) Tj ET Q q 0 0 0 rg BT 111.74 546.95 Td (may ) Tj ET Q q 0 0 0 rg BT 127.52 546.95 Td (increase ) Tj ET Q q 0 0 0 rg BT 155.74 546.95 Td (in ) Tj ET Q q 0 0 0 rg BT 163.97 546.95 Td (the ) Tj ET Q q 0 0 0 rg BT 175.76 546.95 Td (future. ) Tj ET Q q 0 0 0 rg BT 198.87 546.95 Td (Our ) Tj ET Q q 0 0 0 rg BT 213.32 546.95 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 256.21 546.95 Td (in ) Tj ET Q q 0 0 0 rg BT 264.45 546.95 Td (respect ) Tj ET Q q 0 0 0 rg BT 289.11 546.95 Td (of ) Tj ET Q q 0 0 0 rg BT 297.79 546.95 Td (locally ) Tj ET Q q 0 0 0 rg BT 321.57 546.95 Td (produced ) Tj ET Q q 0 0 0 rg BT 353.34 546.95 Td (programming ) Tj ET Q q 0 0 0 rg BT 398.90 546.95 Td (may ) Tj ET Q q 0 0 0 rg BT 414.69 546.95 Td (also ) Tj ET Q q 0 0 0 rg BT 429.59 546.95 Td (increase ) Tj ET Q q 0 0 0 rg BT 457.80 546.95 Td (due ) Tj ET Q q 0 0 0 rg BT 471.36 546.95 Td (to ) Tj ET Q q 0 0 0 rg BT 479.60 546.95 Td (competition ) Tj ET Q q 0 0 0 rg BT 519.82 546.95 Td (for ) Tj ET Q q 0 0 0 rg BT 531.16 546.95 Td (talent ) Tj ET Q q 0 0 0 rg BT 550.95 546.95 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 537.35 Td (other ) Tj ET Q q 0 0 0 rg BT 68.60 537.35 Td (necessary ) Tj ET Q q 0 0 0 rg BT 102.35 537.35 Td (resources ) Tj ET Q q 0 0 0 rg BT 135.22 537.35 Td (and ) Tj ET Q q 0 0 0 rg BT 149.43 537.35 Td (changes ) Tj ET Q q 0 0 0 rg BT 177.86 537.35 Td (in ) Tj ET Q q 0 0 0 rg BT 186.74 537.35 Td (audience ) Tj ET Q q 0 0 0 rg BT 217.82 537.35 Td (tastes ) Tj ET Q q 0 0 0 rg BT 238.26 537.35 Td (in ) Tj ET Q q 0 0 0 rg BT 247.14 537.35 Td (our ) Tj ET Q q 0 0 0 rg BT 260.46 537.35 Td (markets ) Tj ET Q q 0 0 0 rg BT 288.45 537.35 Td (as ) Tj ET Q q 0 0 0 rg BT 297.77 537.35 Td (well ) Tj ET Q q 0 0 0 rg BT 314.21 537.35 Td (as ) Tj ET Q q 0 0 0 rg BT 323.53 537.35 Td (from ) Tj ET Q q 0 0 0 rg BT 341.74 537.35 Td (the ) Tj ET Q q 0 0 0 rg BT 354.18 537.35 Td (implementation ) Tj ET Q q 0 0 0 rg BT 407.05 537.35 Td (of ) Tj ET Q q 0 0 0 rg BT 416.37 537.35 Td (any ) Tj ET Q q 0 0 0 rg BT 430.58 537.35 Td (new ) Tj ET Q q 0 0 0 rg BT 446.57 537.35 Td (laws ) Tj ET Q q 0 0 0 rg BT 463.89 537.35 Td (and ) Tj ET Q q 0 0 0 rg BT 478.11 537.35 Td (regulations ) Tj ET Q q 0 0 0 rg BT 516.31 537.35 Td (mandating ) Tj ET Q q 0 0 0 rg BT 552.74 537.35 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 527.75 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 82.69 527.75 Td (of ) Tj ET Q q 0 0 0 rg BT 91.90 527.75 Td (a ) Tj ET Q q 0 0 0 rg BT 97.99 527.75 Td (greater ) Tj ET Q q 0 0 0 rg BT 122.73 527.75 Td (number ) Tj ET Q q 0 0 0 rg BT 149.71 527.75 Td (of ) Tj ET Q q 0 0 0 rg BT 158.92 527.75 Td (locally ) Tj ET Q q 0 0 0 rg BT 183.23 527.75 Td (produced ) Tj ET Q q 0 0 0 rg BT 215.54 527.75 Td (programs. ) Tj ET Q q 0 0 0 rg BT 250.29 527.75 Td (In ) Tj ET Q q 0 0 0 rg BT 259.50 527.75 Td (addition, ) Tj ET Q q 0 0 0 rg BT 290.26 527.75 Td (we ) Tj ET Q q 0 0 0 rg BT 302.13 527.75 Td (typically ) Tj ET Q q 0 0 0 rg BT 332.66 527.75 Td (acquire ) Tj ET Q q 0 0 0 rg BT 358.74 527.75 Td (syndicated ) Tj ET Q q 0 0 0 rg BT 395.49 527.75 Td (programming ) Tj ET Q q 0 0 0 rg BT 441.58 527.75 Td (rights ) Tj ET Q q 0 0 0 rg BT 462.34 527.75 Td (under ) Tj ET Q q 0 0 0 rg BT 483.10 527.75 Td (multi-year ) Tj ET Q q 0 0 0 rg BT 518.96 527.75 Td (commitments ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 518.15 Td (before ) Tj ET Q q 0 0 0 rg BT 71.83 518.15 Td (we ) Tj ET Q q 0 0 0 rg BT 83.06 518.15 Td (can ) Tj ET Q q 0 0 0 rg BT 96.06 518.15 Td (predict ) Tj ET Q q 0 0 0 rg BT 120.18 518.15 Td (whether ) Tj ET Q q 0 0 0 rg BT 147.84 518.15 Td (such ) Tj ET Q q 0 0 0 rg BT 164.41 518.15 Td (programming ) Tj ET Q q 0 0 0 rg BT 209.86 518.15 Td (will ) Tj ET Q q 0 0 0 rg BT 224.20 518.15 Td (perform ) Tj ET Q q 0 0 0 rg BT 251.87 518.15 Td (well ) Tj ET Q q 0 0 0 rg BT 267.54 518.15 Td (in ) Tj ET Q q 0 0 0 rg BT 275.67 518.15 Td (our ) Tj ET Q q 0 0 0 rg BT 288.23 518.15 Td (markets. ) Tj ET Q q 0 0 0 rg BT 317.46 518.15 Td (In ) Tj ET Q q 0 0 0 rg BT 326.03 518.15 Td (the ) Tj ET Q q 0 0 0 rg BT 337.70 518.15 Td (event ) Tj ET Q q 0 0 0 rg BT 356.93 518.15 Td (any ) Tj ET Q q 0 0 0 rg BT 370.38 518.15 Td (such ) Tj ET Q q 0 0 0 rg BT 386.94 518.15 Td (programming ) Tj ET Q q 0 0 0 rg BT 432.39 518.15 Td (does ) Tj ET Q q 0 0 0 rg BT 448.96 518.15 Td (not ) Tj ET Q q 0 0 0 rg BT 461.08 518.15 Td (attract ) Tj ET Q q 0 0 0 rg BT 482.97 518.15 Td (adequate ) Tj ET Q q 0 0 0 rg BT 513.29 518.15 Td (audience ) Tj ET Q q 0 0 0 rg BT 543.62 518.15 Td (share, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 508.55 Td (it ) Tj ET Q q 0 0 0 rg BT 55.94 508.55 Td (may ) Tj ET Q q 0 0 0 rg BT 71.71 508.55 Td (be ) Tj ET Q q 0 0 0 rg BT 81.25 508.55 Td (necessary ) Tj ET Q q 0 0 0 rg BT 114.34 508.55 Td (to ) Tj ET Q q 0 0 0 rg BT 122.55 508.55 Td (increase ) Tj ET Q q 0 0 0 rg BT 150.75 508.55 Td (our ) Tj ET Q q 0 0 0 rg BT 163.41 508.55 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 206.27 508.55 Td (by ) Tj ET Q q 0 0 0 rg BT 216.27 508.55 Td (investing ) Tj ET Q q 0 0 0 rg BT 247.59 508.55 Td (in ) Tj ET Q q 0 0 0 rg BT 255.81 508.55 Td (additional ) Tj ET Q q 0 0 0 rg BT 289.79 508.55 Td (programming, ) Tj ET Q q 0 0 0 rg BT 337.33 508.55 Td (subject ) Tj ET Q q 0 0 0 rg BT 361.99 508.55 Td (to ) Tj ET Q q 0 0 0 rg BT 370.20 508.55 Td (the ) Tj ET Q q 0 0 0 rg BT 381.97 508.55 Td (availability ) Tj ET Q q 0 0 0 rg BT 419.95 508.55 Td (of ) Tj ET Q q 0 0 0 rg BT 428.61 508.55 Td (adequate ) Tj ET Q q 0 0 0 rg BT 459.03 508.55 Td (financial ) Tj ET Q q 0 0 0 rg BT 489.00 508.55 Td (resources, ) Tj ET Q q 0 0 0 rg BT 523.20 508.55 Td (as ) Tj ET Q q 0 0 0 rg BT 531.86 508.55 Td (well ) Tj ET Q q 0 0 0 rg BT 547.63 508.55 Td (as ) Tj ET Q q 0 0 0 rg BT 556.29 508.55 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 498.95 Td (write ) Tj ET Q q 0 0 0 rg BT 68.42 498.95 Td (down ) Tj ET Q q 0 0 0 rg BT 88.69 498.95 Td (the ) Tj ET Q q 0 0 0 rg BT 100.95 498.95 Td (value ) Tj ET Q q 0 0 0 rg BT 120.76 498.95 Td (of ) Tj ET Q q 0 0 0 rg BT 129.91 498.95 Td (any ) Tj ET Q q 0 0 0 rg BT 143.95 498.95 Td (underperforming ) Tj ET Q q 0 0 0 rg BT 200.63 498.95 Td (programming, ) Tj ET Q q 0 0 0 rg BT 248.67 498.95 Td (as ) Tj ET Q q 0 0 0 rg BT 257.82 498.95 Td (was ) Tj ET Q q 0 0 0 rg BT 272.75 498.95 Td (the ) Tj ET Q q 0 0 0 rg BT 285.01 498.95 Td (case ) Tj ET Q q 0 0 0 rg BT 301.26 498.95 Td (in ) Tj ET Q q 0 0 0 rg BT 309.97 498.95 Td (certain ) Tj ET Q q 0 0 0 rg BT 334.21 498.95 Td (of ) Tj ET Q q 0 0 0 rg BT 343.37 498.95 Td (our ) Tj ET Q q 0 0 0 rg BT 356.52 498.95 Td (operating ) Tj ET Q q 0 0 0 rg BT 389.21 498.95 Td (segments ) Tj ET Q q 0 0 0 rg BT 421.47 498.95 Td (in ) Tj ET Q q 0 0 0 rg BT 430.18 498.95 Td (2013 ) Tj ET Q q 0 0 0 rg BT 448.67 498.95 Td (and ) Tj ET Q q 0 0 0 rg BT 462.71 498.95 Td (2014. ) Tj ET Q q 0 0 0 rg BT 482.64 498.95 Td (Any ) Tj ET Q q 0 0 0 rg BT 498.91 498.95 Td (material ) Tj ET Q q 0 0 0 rg BT 527.60 498.95 Td (increase ) Tj ET Q q 0 0 0 rg BT 556.29 498.95 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 489.35 Td (content ) Tj ET Q q 0 0 0 rg BT 75.05 489.35 Td (costs ) Tj ET Q q 0 0 0 rg BT 93.05 489.35 Td (could ) Tj ET Q q 0 0 0 rg BT 112.82 489.35 Td (have ) Tj ET Q q 0 0 0 rg BT 129.92 489.35 Td (a ) Tj ET Q q 0 0 0 rg BT 135.47 489.35 Td (material ) Tj ET Q q 0 0 0 rg BT 163.68 489.35 Td (adverse ) Tj ET Q q 0 0 0 rg BT 190.11 489.35 Td (ef) Tj ET Q q 0 0 0 rg BT 196.18 489.35 Td (fect ) Tj ET Q q 0 0 0 rg BT 210.17 489.35 Td (on ) Tj ET Q q 0 0 0 rg BT 220.17 489.35 Td (our ) Tj ET Q q 0 0 0 rg BT 232.83 489.35 Td (financial ) Tj ET Q q 0 0 0 rg BT 262.82 489.35 Td (condition, ) Tj ET Q q 0 0 0 rg BT 297.04 489.35 Td (results ) Tj ET Q q 0 0 0 rg BT 319.92 489.35 Td (of ) Tj ET Q q 0 0 0 rg BT 328.59 489.35 Td (operations ) Tj ET Q q 0 0 0 rg BT 363.91 489.35 Td (and ) Tj ET Q q 0 0 0 rg BT 377.46 489.35 Td (cash ) Tj ET Q q 0 0 0 rg BT 393.68 489.35 Td (flows.) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 469.45 Td (Our ) Tj ET Q q 0 0 0 rg BT 64.84 469.45 Td (operating ) Tj ET Q q 0 0 0 rg BT 98.40 469.45 Td (results ) Tj ET Q q 0 0 0 rg BT 122.18 469.45 Td (are ) Tj ET Q q 0 0 0 rg BT 134.85 469.45 Td (dependent ) Tj ET Q q 0 0 0 rg BT 170.62 469.45 Td (on ) Tj ET Q q 0 0 0 rg BT 181.07 469.45 Td (the ) Tj ET Q q 0 0 0 rg BT 193.29 469.45 Td (importance ) Tj ET Q q 0 0 0 rg BT 232.63 469.45 Td (of ) Tj ET Q q 0 0 0 rg BT 241.29 469.45 Td (television ) Tj ET Q q 0 0 0 rg BT 274.39 469.45 Td (as ) Tj ET Q q 0 0 0 rg BT 283.51 469.45 Td (an ) Tj ET Q q 0 0 0 rg BT 293.96 469.45 Td (advertising ) Tj ET Q q 0 0 0 rg BT 332.40 469.45 Td (medium.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 453.85 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 453.85 Td (e ) Tj ET Q q 0 0 0 rg BT 62.07 453.85 Td (generate ) Tj ET Q q 0 0 0 rg BT 91.26 453.85 Td (most ) Tj ET Q q 0 0 0 rg BT 108.92 453.85 Td (of ) Tj ET Q q 0 0 0 rg BT 117.69 453.85 Td (our ) Tj ET Q q 0 0 0 rg BT 130.46 453.85 Td (revenues ) Tj ET Q q 0 0 0 rg BT 160.99 453.85 Td (from ) Tj ET Q q 0 0 0 rg BT 178.65 453.85 Td (the ) Tj ET Q q 0 0 0 rg BT 190.53 453.85 Td (sale ) Tj ET Q q 0 0 0 rg BT 205.07 453.85 Td (of ) Tj ET Q q 0 0 0 rg BT 213.84 453.85 Td (our ) Tj ET Q q 0 0 0 rg BT 226.61 453.85 Td (advertising ) Tj ET Q q 0 0 0 rg BT 264.26 453.85 Td (airtime ) Tj ET Q q 0 0 0 rg BT 289.02 453.85 Td (on ) Tj ET Q q 0 0 0 rg BT 299.12 453.85 Td (television ) Tj ET Q q 0 0 0 rg BT 332.33 453.85 Td (channels ) Tj ET Q q 0 0 0 rg BT 362.43 453.85 Td (in ) Tj ET Q q 0 0 0 rg BT 370.75 453.85 Td (our ) Tj ET Q q 0 0 0 rg BT 383.52 453.85 Td (markets. ) Tj ET Q q 0 0 0 rg BT 412.80 453.85 Td (T) Tj ET Q q 0 0 0 rg BT 417.13 453.85 Td (elevision ) Tj ET Q q 0 0 0 rg BT 448.11 453.85 Td (competes ) Tj ET Q q 0 0 0 rg BT 480.43 453.85 Td (with ) Tj ET Q q 0 0 0 rg BT 496.76 453.85 Td (various ) Tj ET Q q 0 0 0 rg BT 522.41 453.85 Td (other ) Tj ET Q q 0 0 0 rg BT 540.95 453.85 Td (media, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 444.25 Td (such ) Tj ET Q q 0 0 0 rg BT 66.54 444.25 Td (as ) Tj ET Q q 0 0 0 rg BT 75.57 444.25 Td (print, ) Tj ET Q q 0 0 0 rg BT 95.05 444.25 Td (radio, ) Tj ET Q q 0 0 0 rg BT 115.86 444.25 Td (the ) Tj ET Q q 0 0 0 rg BT 128.00 444.25 Td (internet ) Tj ET Q q 0 0 0 rg BT 154.81 444.25 Td (and ) Tj ET Q q 0 0 0 rg BT 168.73 444.25 Td (outdoor ) Tj ET Q q 0 0 0 rg BT 195.99 444.25 Td (advertising, ) Tj ET Q q 0 0 0 rg BT 235.91 444.25 Td (for ) Tj ET Q q 0 0 0 rg BT 247.61 444.25 Td (advertising ) Tj ET Q q 0 0 0 rg BT 285.52 444.25 Td (spending. ) Tj ET Q q 0 0 0 rg BT 318.78 444.25 Td (In ) Tj ET Q q 0 0 0 rg BT 327.82 444.25 Td (all ) Tj ET Q q 0 0 0 rg BT 338.18 444.25 Td (of ) Tj ET Q q 0 0 0 rg BT 347.22 444.25 Td (the ) Tj ET Q q 0 0 0 rg BT 359.36 444.25 Td (countries ) Tj ET Q q 0 0 0 rg BT 391.06 444.25 Td (in ) Tj ET Q q 0 0 0 rg BT 399.65 444.25 Td (which ) Tj ET Q q 0 0 0 rg BT 421.57 444.25 Td (we ) Tj ET Q q 0 0 0 rg BT 433.27 444.25 Td (operate, ) Tj ET Q q 0 0 0 rg BT 461.18 444.25 Td (television ) Tj ET Q q 0 0 0 rg BT 494.66 444.25 Td (constitutes ) Tj ET Q q 0 0 0 rg BT 531.25 444.25 Td (the ) Tj ET Q q 0 0 0 rg BT 543.39 444.25 Td (single ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 434.65 Td (lar) Tj ET Q q 0 0 0 rg BT 57.79 434.65 Td (gest ) Tj ET Q q 0 0 0 rg BT 72.11 434.65 Td (component ) Tj ET Q q 0 0 0 rg BT 109.08 434.65 Td (of ) Tj ET Q q 0 0 0 rg BT 117.17 434.65 Td (all ) Tj ET Q q 0 0 0 rg BT 126.59 434.65 Td (advertising ) Tj ET Q q 0 0 0 rg BT 163.57 434.65 Td (spending. ) Tj ET Q q 0 0 0 rg BT 195.78 434.65 Td (There ) Tj ET Q q 0 0 0 rg BT 215.86 434.65 Td (can ) Tj ET Q q 0 0 0 rg BT 228.39 434.65 Td (be ) Tj ET Q q 0 0 0 rg BT 237.36 434.65 Td (no ) Tj ET Q q 0 0 0 rg BT 246.79 434.65 Td (assurances ) Tj ET Q q 0 0 0 rg BT 282.42 434.65 Td (that ) Tj ET Q q 0 0 0 rg BT 295.85 434.65 Td (the ) Tj ET Q q 0 0 0 rg BT 307.05 434.65 Td (television ) Tj ET Q q 0 0 0 rg BT 339.58 434.65 Td (advertising ) Tj ET Q q 0 0 0 rg BT 376.55 434.65 Td (market ) Tj ET Q q 0 0 0 rg BT 400.19 434.65 Td (will ) Tj ET Q q 0 0 0 rg BT 414.06 434.65 Td (maintain ) Tj ET Q q 0 0 0 rg BT 443.48 434.65 Td (its ) Tj ET Q q 0 0 0 rg BT 452.47 434.65 Td (current ) Tj ET Q q 0 0 0 rg BT 476.55 434.65 Td (position ) Tj ET Q q 0 0 0 rg BT 503.75 434.65 Td (among ) Tj ET Q q 0 0 0 rg BT 526.95 434.65 Td (advertising ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 425.05 Td (media ) Tj ET Q q 0 0 0 rg BT 71.36 425.05 Td (in ) Tj ET Q q 0 0 0 rg BT 79.89 425.05 Td (our ) Tj ET Q q 0 0 0 rg BT 92.87 425.05 Td (markets. ) Tj ET Q q 0 0 0 rg BT 122.50 425.05 Td (Furthermore, ) Tj ET Q q 0 0 0 rg BT 166.80 425.05 Td (there ) Tj ET Q q 0 0 0 rg BT 185.10 425.05 Td (can ) Tj ET Q q 0 0 0 rg BT 198.52 425.05 Td (be ) Tj ET Q q 0 0 0 rg BT 208.38 425.05 Td (no ) Tj ET Q q 0 0 0 rg BT 218.69 425.05 Td (assurances ) Tj ET Q q 0 0 0 rg BT 255.21 425.05 Td (that ) Tj ET Q q 0 0 0 rg BT 269.52 425.05 Td (changes ) Tj ET Q q 0 0 0 rg BT 297.59 425.05 Td (in ) Tj ET Q q 0 0 0 rg BT 306.13 425.05 Td (the ) Tj ET Q q 0 0 0 rg BT 318.21 425.05 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 353.40 425.05 Td (environment ) Tj ET Q q 0 0 0 rg BT 396.14 425.05 Td (or ) Tj ET Q q 0 0 0 rg BT 405.12 425.05 Td (improvements ) Tj ET Q q 0 0 0 rg BT 453.20 425.05 Td (in ) Tj ET Q q 0 0 0 rg BT 461.74 425.05 Td (technology ) Tj ET Q q 0 0 0 rg BT 499.59 425.05 Td (will ) Tj ET Q q 0 0 0 rg BT 514.35 425.05 Td (not ) Tj ET Q q 0 0 0 rg BT 526.88 425.05 Td (favor ) Tj ET Q q 0 0 0 rg BT 546.08 425.05 Td (other ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 415.45 Td (advertising ) Tj ET Q q 0 0 0 rg BT 87.12 415.45 Td (media ) Tj ET Q q 0 0 0 rg BT 108.73 415.45 Td (or ) Tj ET Q q 0 0 0 rg BT 117.46 415.45 Td (other ) Tj ET Q q 0 0 0 rg BT 135.97 415.45 Td (television ) Tj ET Q q 0 0 0 rg BT 169.14 415.45 Td (broadcasters. ) Tj ET Q q 0 0 0 rg BT 213.19 415.45 Td (Increases ) Tj ET Q q 0 0 0 rg BT 245.02 415.45 Td (in ) Tj ET Q q 0 0 0 rg BT 253.31 415.45 Td (competition ) Tj ET Q q 0 0 0 rg BT 293.59 415.45 Td (among ) Tj ET Q q 0 0 0 rg BT 317.43 415.45 Td (advertising ) Tj ET Q q 0 0 0 rg BT 355.05 415.45 Td (media ) Tj ET Q q 0 0 0 rg BT 376.66 415.45 Td (arising ) Tj ET Q q 0 0 0 rg BT 400.51 415.45 Td (from ) Tj ET Q q 0 0 0 rg BT 418.13 415.45 Td (the ) Tj ET Q q 0 0 0 rg BT 429.97 415.45 Td (development ) Tj ET Q q 0 0 0 rg BT 473.36 415.45 Td (of ) Tj ET Q q 0 0 0 rg BT 482.09 415.45 Td (new ) Tj ET Q q 0 0 0 rg BT 497.48 415.45 Td (forms ) Tj ET Q q 0 0 0 rg BT 518.22 415.45 Td (of ) Tj ET Q q 0 0 0 rg BT 526.95 415.45 Td (advertising ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 405.85 Td (media ) Tj ET Q q 0 0 0 rg BT 70.60 405.85 Td (and ) Tj ET Q q 0 0 0 rg BT 83.71 405.85 Td (distribution ) Tj ET Q q 0 0 0 rg BT 122.16 405.85 Td (could ) Tj ET Q q 0 0 0 rg BT 141.49 405.85 Td (result ) Tj ET Q q 0 0 0 rg BT 160.82 405.85 Td (in ) Tj ET Q q 0 0 0 rg BT 168.60 405.85 Td (a ) Tj ET Q q 0 0 0 rg BT 173.71 405.85 Td (decline ) Tj ET Q q 0 0 0 rg BT 198.36 405.85 Td (in ) Tj ET Q q 0 0 0 rg BT 206.14 405.85 Td (the ) Tj ET Q q 0 0 0 rg BT 217.47 405.85 Td (appeal ) Tj ET Q q 0 0 0 rg BT 239.90 405.85 Td (of ) Tj ET Q q 0 0 0 rg BT 248.12 405.85 Td (television ) Tj ET Q q 0 0 0 rg BT 280.78 405.85 Td (as ) Tj ET Q q 0 0 0 rg BT 289.00 405.85 Td (an ) Tj ET Q q 0 0 0 rg BT 298.11 405.85 Td (advertising ) Tj ET Q q 0 0 0 rg BT 335.21 405.85 Td (medium ) Tj ET Q q 0 0 0 rg BT 362.99 405.85 Td (generally ) Tj ET Q q 0 0 0 rg BT 394.31 405.85 Td (or ) Tj ET Q q 0 0 0 rg BT 402.53 405.85 Td (of ) Tj ET Q q 0 0 0 rg BT 410.75 405.85 Td (our ) Tj ET Q q 0 0 0 rg BT 422.97 405.85 Td (channels ) Tj ET Q q 0 0 0 rg BT 452.52 405.85 Td (specifically) Tj ET Q q 0 0 0 rg BT 488.87 405.85 Td (. ) Tj ET Q q 0 0 0 rg BT 492.08 405.85 Td (A) Tj ET Q q 0 0 0 rg BT 497.42 405.85 Td ( ) Tj ET Q q 0 0 0 rg BT 498.97 405.85 Td (decline ) Tj ET Q q 0 0 0 rg BT 523.63 405.85 Td (in ) Tj ET Q q 0 0 0 rg BT 531.41 405.85 Td (television ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 396.25 Td (advertising ) Tj ET Q q 0 0 0 rg BT 87.41 396.25 Td (spending ) Tj ET Q q 0 0 0 rg BT 118.65 396.25 Td (as ) Tj ET Q q 0 0 0 rg BT 127.68 396.25 Td (a ) Tj ET Q q 0 0 0 rg BT 133.59 396.25 Td (component ) Tj ET Q q 0 0 0 rg BT 171.49 396.25 Td (of ) Tj ET Q q 0 0 0 rg BT 180.52 396.25 Td (total ) Tj ET Q q 0 0 0 rg BT 197.09 396.25 Td (advertising ) Tj ET Q q 0 0 0 rg BT 235.00 396.25 Td (spending ) Tj ET Q q 0 0 0 rg BT 266.25 396.25 Td (in ) Tj ET Q q 0 0 0 rg BT 274.83 396.25 Td (any ) Tj ET Q q 0 0 0 rg BT 288.74 396.25 Td (period ) Tj ET Q q 0 0 0 rg BT 311.54 396.25 Td (or ) Tj ET Q q 0 0 0 rg BT 320.56 396.25 Td (in ) Tj ET Q q 0 0 0 rg BT 329.14 396.25 Td (specific ) Tj ET Q q 0 0 0 rg BT 356.38 396.25 Td (markets ) Tj ET Q q 0 0 0 rg BT 384.06 396.25 Td (would ) Tj ET Q q 0 0 0 rg BT 406.42 396.25 Td (have ) Tj ET Q q 0 0 0 rg BT 423.88 396.25 Td (an ) Tj ET Q q 0 0 0 rg BT 433.79 396.25 Td (adverse ) Tj ET Q q 0 0 0 rg BT 460.58 396.25 Td (ef) Tj ET Q q 0 0 0 rg BT 466.65 396.25 Td (fect ) Tj ET Q q 0 0 0 rg BT 481.00 396.25 Td (on ) Tj ET Q q 0 0 0 rg BT 491.36 396.25 Td (our ) Tj ET Q q 0 0 0 rg BT 504.38 396.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 534.72 396.25 Td (position, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 386.65 Td (results ) Tj ET Q q 0 0 0 rg BT 72.39 386.65 Td (of ) Tj ET Q q 0 0 0 rg BT 81.05 386.65 Td (operations ) Tj ET Q q 0 0 0 rg BT 116.38 386.65 Td (and ) Tj ET Q q 0 0 0 rg BT 129.93 386.65 Td (cash ) Tj ET Q q 0 0 0 rg BT 146.14 386.65 Td (flows.) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 366.75 Td (Our ) Tj ET Q q 0 0 0 rg BT 64.84 366.75 Td (businesses ) Tj ET Q q 0 0 0 rg BT 101.52 366.75 Td (are ) Tj ET Q q 0 0 0 rg BT 114.18 366.75 Td (vulnerable ) Tj ET Q q 0 0 0 rg BT 151.29 366.75 Td (to ) Tj ET Q q 0 0 0 rg BT 159.51 366.75 Td (significant ) Tj ET Q q 0 0 0 rg BT 196.63 366.75 Td (changes ) Tj ET Q q 0 0 0 rg BT 225.74 366.75 Td (in ) Tj ET Q q 0 0 0 rg BT 234.41 366.75 Td (technology ) Tj ET Q q 0 0 0 rg BT 272.41 366.75 Td (that ) Tj ET Q q 0 0 0 rg BT 287.30 366.75 Td (could ) Tj ET Q q 0 0 0 rg BT 307.53 366.75 Td (adversely ) Tj ET Q q 0 0 0 rg BT 340.18 366.75 Td (af) Tj ET Q q 0 0 0 rg BT 346.70 366.75 Td (fect ) Tj ET Q q 0 0 0 rg BT 360.69 366.75 Td (us.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 351.15 Td (The ) Tj ET Q q 0 0 0 rg BT 63.71 351.15 Td (television ) Tj ET Q q 0 0 0 rg BT 96.59 351.15 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 139.24 351.15 Td (industry ) Tj ET Q q 0 0 0 rg BT 167.24 351.15 Td (is ) Tj ET Q q 0 0 0 rg BT 174.35 351.15 Td (af) Tj ET Q q 0 0 0 rg BT 180.42 351.15 Td (fected ) Tj ET Q q 0 0 0 rg BT 201.73 351.15 Td (by ) Tj ET Q q 0 0 0 rg BT 211.51 351.15 Td (rapid ) Tj ET Q q 0 0 0 rg BT 229.72 351.15 Td (innovations ) Tj ET Q q 0 0 0 rg BT 268.83 351.15 Td (in ) Tj ET Q q 0 0 0 rg BT 276.82 351.15 Td (technology) Tj ET Q q 0 0 0 rg BT 311.85 351.15 Td (. ) Tj ET Q q 0 0 0 rg BT 315.50 351.15 Td (The ) Tj ET Q q 0 0 0 rg BT 329.71 351.15 Td (implementation ) Tj ET Q q 0 0 0 rg BT 381.69 351.15 Td (of ) Tj ET Q q 0 0 0 rg BT 390.13 351.15 Td (new ) Tj ET Q q 0 0 0 rg BT 405.23 351.15 Td (technologies ) Tj ET Q q 0 0 0 rg BT 447.44 351.15 Td (and ) Tj ET Q q 0 0 0 rg BT 460.77 351.15 Td (the ) Tj ET Q q 0 0 0 rg BT 472.31 351.15 Td (introduction ) Tj ET Q q 0 0 0 rg BT 513.19 351.15 Td (of ) Tj ET Q q 0 0 0 rg BT 521.63 351.15 Td (broadcasting ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 341.55 Td (distribution ) Tj ET Q q 0 0 0 rg BT 89.36 341.55 Td (systems ) Tj ET Q q 0 0 0 rg BT 117.67 341.55 Td (other ) Tj ET Q q 0 0 0 rg BT 137.08 341.55 Td (than ) Tj ET Q q 0 0 0 rg BT 153.82 341.55 Td (analog ) Tj ET Q q 0 0 0 rg BT 178.12 341.55 Td (terrestrial ) Tj ET Q q 0 0 0 rg BT 211.73 341.55 Td (broadcasting, ) Tj ET Q q 0 0 0 rg BT 257.58 341.55 Td (such ) Tj ET Q q 0 0 0 rg BT 275.21 341.55 Td (as ) Tj ET Q q 0 0 0 rg BT 284.85 341.55 Td (digital ) Tj ET Q q 0 0 0 rg BT 308.26 341.55 Td (terrestrial ) Tj ET Q q 0 0 0 rg BT 341.88 341.55 Td (television ) Tj ET Q q 0 0 0 rg BT 375.96 341.55 Td (\(DTT\) ) Tj ET Q q 0 0 0 rg BT 406.91 341.55 Td (broadcasting, ) Tj ET Q q 0 0 0 rg BT 452.75 341.55 Td (direct-to-home ) Tj ET Q q 0 0 0 rg BT 503.26 341.55 Td (cable ) Tj ET Q q 0 0 0 rg BT 523.11 341.55 Td (and ) Tj ET Q q 0 0 0 rg BT 537.63 341.55 Td (satellite ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 331.95 Td (distribution ) Tj ET Q q 0 0 0 rg BT 88.34 331.95 Td (systems, ) Tj ET Q q 0 0 0 rg BT 117.63 331.95 Td (the ) Tj ET Q q 0 0 0 rg BT 129.35 331.95 Td (internet, ) Tj ET Q q 0 0 0 rg BT 157.73 331.95 Td (video-on-demand, ) Tj ET Q q 0 0 0 rg BT 218.11 331.95 Td (user) Tj ET Q q 0 0 0 rg BT 231.27 331.95 Td (-generated ) Tj ET Q q 0 0 0 rg BT 266.98 331.95 Td (content ) Tj ET Q q 0 0 0 rg BT 292.47 331.95 Td (sites ) Tj ET Q q 0 0 0 rg BT 308.64 331.95 Td (and ) Tj ET Q q 0 0 0 rg BT 322.14 331.95 Td (the ) Tj ET Q q 0 0 0 rg BT 333.87 331.95 Td (availability ) Tj ET Q q 0 0 0 rg BT 371.80 331.95 Td (of ) Tj ET Q q 0 0 0 rg BT 380.42 331.95 Td (television ) Tj ET Q q 0 0 0 rg BT 413.47 331.95 Td (programming ) Tj ET Q q 0 0 0 rg BT 458.97 331.95 Td (on ) Tj ET Q q 0 0 0 rg BT 468.92 331.95 Td (portable ) Tj ET Q q 0 0 0 rg BT 497.08 331.95 Td (digital ) Tj ET Q q 0 0 0 rg BT 519.47 331.95 Td (devices, ) Tj ET Q q 0 0 0 rg BT 547.41 331.95 Td (have ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 322.35 Td (changed ) Tj ET Q q 0 0 0 rg BT 77.51 322.35 Td (consumer ) Tj ET Q q 0 0 0 rg BT 109.97 322.35 Td (behavior ) Tj ET Q q 0 0 0 rg BT 139.31 322.35 Td (by ) Tj ET Q q 0 0 0 rg BT 148.67 322.35 Td (increasing ) Tj ET Q q 0 0 0 rg BT 182.90 322.35 Td (the ) Tj ET Q q 0 0 0 rg BT 194.04 322.35 Td (number ) Tj ET Q q 0 0 0 rg BT 219.83 322.35 Td (of ) Tj ET Q q 0 0 0 rg BT 227.85 322.35 Td (entertainment ) Tj ET Q q 0 0 0 rg BT 273.19 322.35 Td (choices ) Tj ET Q q 0 0 0 rg BT 298.54 322.35 Td (available ) Tj ET Q q 0 0 0 rg BT 328.76 322.35 Td (to ) Tj ET Q q 0 0 0 rg BT 336.34 322.35 Td (audiences ) Tj ET Q q 0 0 0 rg BT 369.24 322.35 Td (and ) Tj ET Q q 0 0 0 rg BT 382.15 322.35 Td (the ) Tj ET Q q 0 0 0 rg BT 393.28 322.35 Td (methods ) Tj ET Q q 0 0 0 rg BT 421.75 322.35 Td (for ) Tj ET Q q 0 0 0 rg BT 432.43 322.35 Td (the ) Tj ET Q q 0 0 0 rg BT 443.56 322.35 Td (distribution, ) Tj ET Q q 0 0 0 rg BT 483.81 322.35 Td (storage ) Tj ET Q q 0 0 0 rg BT 508.27 322.35 Td (and ) Tj ET Q q 0 0 0 rg BT 521.18 322.35 Td (consumption ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 312.75 Td (of ) Tj ET Q q 0 0 0 rg BT 57.51 312.75 Td (content. ) Tj ET Q q 0 0 0 rg BT 84.31 312.75 Td (This ) Tj ET Q q 0 0 0 rg BT 99.88 312.75 Td (has ) Tj ET Q q 0 0 0 rg BT 111.89 312.75 Td (fragmented ) Tj ET Q q 0 0 0 rg BT 149.67 312.75 Td (television ) Tj ET Q q 0 0 0 rg BT 182.12 312.75 Td (audiences ) Tj ET Q q 0 0 0 rg BT 215.01 312.75 Td (in ) Tj ET Q q 0 0 0 rg BT 222.58 312.75 Td (more ) Tj ET Q q 0 0 0 rg BT 240.37 312.75 Td (developed ) Tj ET Q q 0 0 0 rg BT 274.59 312.75 Td (markets ) Tj ET Q q 0 0 0 rg BT 301.26 312.75 Td (and ) Tj ET Q q 0 0 0 rg BT 314.16 312.75 Td (could ) Tj ET Q q 0 0 0 rg BT 333.29 312.75 Td (adversely ) Tj ET Q q 0 0 0 rg BT 365.29 312.75 Td (af) Tj ET Q q 0 0 0 rg BT 371.36 312.75 Td (fect ) Tj ET Q q 0 0 0 rg BT 384.69 312.75 Td (our ) Tj ET Q q 0 0 0 rg BT 396.71 312.75 Td (ability ) Tj ET Q q 0 0 0 rg BT 418.50 312.75 Td (to ) Tj ET Q q 0 0 0 rg BT 426.07 312.75 Td (retain ) Tj ET Q q 0 0 0 rg BT 445.63 312.75 Td (audience ) Tj ET Q q 0 0 0 rg BT 475.40 312.75 Td (share ) Tj ET Q q 0 0 0 rg BT 493.63 312.75 Td (and ) Tj ET Q q 0 0 0 rg BT 506.53 312.75 Td (attract ) Tj ET Q q 0 0 0 rg BT 527.86 312.75 Td (advertisers ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 303.15 Td (as ) Tj ET Q q 0 0 0 rg BT 58.63 303.15 Td (such ) Tj ET Q q 0 0 0 rg BT 75.76 303.15 Td (technologies ) Tj ET Q q 0 0 0 rg BT 118.66 303.15 Td (penetrate ) Tj ET Q q 0 0 0 rg BT 150.43 303.15 Td (our ) Tj ET Q q 0 0 0 rg BT 163.56 303.15 Td (markets. ) Tj ET Q q 0 0 0 rg BT 193.35 303.15 Td (Furthermore, ) Tj ET Q q 0 0 0 rg BT 237.80 303.15 Td (substantial ) Tj ET Q q 0 0 0 rg BT 274.49 303.15 Td (investment ) Tj ET Q q 0 0 0 rg BT 312.06 303.15 Td (and ) Tj ET Q q 0 0 0 rg BT 326.07 303.15 Td (the ) Tj ET Q q 0 0 0 rg BT 338.31 303.15 Td (commitment ) Tj ET Q q 0 0 0 rg BT 381.21 303.15 Td (of ) Tj ET Q q 0 0 0 rg BT 390.34 303.15 Td (other ) Tj ET Q q 0 0 0 rg BT 409.25 303.15 Td (resources ) Tj ET Q q 0 0 0 rg BT 441.92 303.15 Td (has ) Tj ET Q q 0 0 0 rg BT 455.05 303.15 Td (been ) Tj ET Q q 0 0 0 rg BT 472.61 303.15 Td (required ) Tj ET Q q 0 0 0 rg BT 501.73 303.15 Td (to ) Tj ET Q q 0 0 0 rg BT 510.42 303.15 Td (implement ) Tj ET Q q 0 0 0 rg BT 547.10 303.15 Td (DTT) Tj ET Q q 0 0 0 rg BT 562.50 303.15 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 293.55 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 92.22 293.55 Td (and ) Tj ET Q q 0 0 0 rg BT 105.63 293.55 Td (secure ) Tj ET Q q 0 0 0 rg BT 127.90 293.55 Td (distribution ) Tj ET Q q 0 0 0 rg BT 166.64 293.55 Td (in ) Tj ET Q q 0 0 0 rg BT 174.72 293.55 Td (advance ) Tj ET Q q 0 0 0 rg BT 202.77 293.55 Td (of ) Tj ET Q q 0 0 0 rg BT 211.28 293.55 Td (knowing ) Tj ET Q q 0 0 0 rg BT 241.13 293.55 Td (the ) Tj ET Q q 0 0 0 rg BT 252.76 293.55 Td (take ) Tj ET Q q 0 0 0 rg BT 267.93 293.55 Td (up ) Tj ET Q q 0 0 0 rg BT 277.78 293.55 Td (of ) Tj ET Q q 0 0 0 rg BT 286.29 293.55 Td (DTT) Tj ET Q q 0 0 0 rg BT 301.70 293.55 Td ( ) Tj ET Q q 0 0 0 rg BT 303.55 293.55 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 346.27 293.55 Td (versus ) Tj ET Q q 0 0 0 rg BT 368.56 293.55 Td (competing ) Tj ET Q q 0 0 0 rg BT 404.18 293.55 Td (alternative ) Tj ET Q q 0 0 0 rg BT 439.79 293.55 Td (distribution ) Tj ET Q q 0 0 0 rg BT 478.53 293.55 Td (systems, ) Tj ET Q q 0 0 0 rg BT 507.72 293.55 Td (such ) Tj ET Q q 0 0 0 rg BT 524.23 293.55 Td (as ) Tj ET Q q 0 0 0 rg BT 532.74 293.55 Td (direct-to-) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 283.95 Td (home ) Tj ET Q q 0 0 0 rg BT 69.65 283.95 Td (platforms. ) Tj ET Q q 0 0 0 rg BT 104.52 283.95 Td (W) Tj ET Q q 0 0 0 rg BT 111.43 283.95 Td (e ) Tj ET Q q 0 0 0 rg BT 117.36 283.95 Td (may ) Tj ET Q q 0 0 0 rg BT 133.51 283.95 Td (not ) Tj ET Q q 0 0 0 rg BT 146.11 283.95 Td (receive ) Tj ET Q q 0 0 0 rg BT 171.58 283.95 Td (an ) Tj ET Q q 0 0 0 rg BT 181.50 283.95 Td (adequate ) Tj ET Q q 0 0 0 rg BT 212.31 283.95 Td (return ) Tj ET Q q 0 0 0 rg BT 233.79 283.95 Td (on ) Tj ET Q q 0 0 0 rg BT 244.17 283.95 Td (such ) Tj ET Q q 0 0 0 rg BT 261.21 283.95 Td (investment ) Tj ET Q q 0 0 0 rg BT 298.69 283.95 Td (if ) Tj ET Q q 0 0 0 rg BT 305.96 283.95 Td (the ) Tj ET Q q 0 0 0 rg BT 318.11 283.95 Td (take ) Tj ET Q q 0 0 0 rg BT 333.81 283.95 Td (up ) Tj ET Q q 0 0 0 rg BT 344.19 283.95 Td (of ) Tj ET Q q 0 0 0 rg BT 353.23 283.95 Td (DTT) Tj ET Q q 0 0 0 rg BT 368.64 283.95 Td ( ) Tj ET Q q 0 0 0 rg BT 371.01 283.95 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 414.27 283.95 Td (is ) Tj ET Q q 0 0 0 rg BT 421.98 283.95 Td (lower ) Tj ET Q q 0 0 0 rg BT 442.57 283.95 Td (than ) Tj ET Q q 0 0 0 rg BT 458.72 283.95 Td (expected. ) Tj ET Q q 0 0 0 rg BT 491.53 283.95 Td (Business ) Tj ET Q q 0 0 0 rg BT 522.36 283.95 Td (initiatives ) Tj ET Q q 0 0 0 rg BT 556.28 283.95 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 274.35 Td (expand ) Tj ET Q q 0 0 0 rg BT 74.63 274.35 Td (our ) Tj ET Q q 0 0 0 rg BT 87.33 274.35 Td (distribution ) Tj ET Q q 0 0 0 rg BT 126.25 274.35 Td (capabilities ) Tj ET Q q 0 0 0 rg BT 164.71 274.35 Td (to ) Tj ET Q q 0 0 0 rg BT 172.97 274.35 Td (adapt ) Tj ET Q q 0 0 0 rg BT 192.33 274.35 Td (to ) Tj ET Q q 0 0 0 rg BT 200.58 274.35 Td (changing ) Tj ET Q q 0 0 0 rg BT 231.94 274.35 Td (patterns ) Tj ET Q q 0 0 0 rg BT 259.29 274.35 Td (of ) Tj ET Q q 0 0 0 rg BT 267.99 274.35 Td (consumption ) Tj ET Q q 0 0 0 rg BT 311.35 274.35 Td (of ) Tj ET Q q 0 0 0 rg BT 320.05 274.35 Td (content ) Tj ET Q q 0 0 0 rg BT 345.63 274.35 Td (may ) Tj ET Q q 0 0 0 rg BT 361.44 274.35 Td (not ) Tj ET Q q 0 0 0 rg BT 373.69 274.35 Td (develop ) Tj ET Q q 0 0 0 rg BT 401.05 274.35 Td (into ) Tj ET Q q 0 0 0 rg BT 415.52 274.35 Td (profitable ) Tj ET Q q 0 0 0 rg BT 448.65 274.35 Td (business ) Tj ET Q q 0 0 0 rg BT 477.80 274.35 Td (models. ) Tj ET Q q 0 0 0 rg BT 504.94 274.35 Td (New ) Tj ET Q q 0 0 0 rg BT 522.08 274.35 Td (technologies ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 264.75 Td (that ) Tj ET Q q 0 0 0 rg BT 63.79 264.75 Td (enable ) Tj ET Q q 0 0 0 rg BT 86.95 264.75 Td (viewers ) Tj ET Q q 0 0 0 rg BT 114.12 264.75 Td (to ) Tj ET Q q 0 0 0 rg BT 122.63 264.75 Td (choose ) Tj ET Q q 0 0 0 rg BT 147.14 264.75 Td (when, ) Tj ET Q q 0 0 0 rg BT 168.76 264.75 Td (how) Tj ET Q q 0 0 0 rg BT 182.01 264.75 Td (, ) Tj ET Q q 0 0 0 rg BT 186.30 264.75 Td (where ) Tj ET Q q 0 0 0 rg BT 208.14 264.75 Td (and ) Tj ET Q q 0 0 0 rg BT 221.98 264.75 Td (what ) Tj ET Q q 0 0 0 rg BT 239.82 264.75 Td (content ) Tj ET Q q 0 0 0 rg BT 265.66 264.75 Td (to ) Tj ET Q q 0 0 0 rg BT 274.17 264.75 Td (watch, ) Tj ET Q q 0 0 0 rg BT 297.56 264.75 Td (as ) Tj ET Q q 0 0 0 rg BT 306.51 264.75 Td (well ) Tj ET Q q 0 0 0 rg BT 322.58 264.75 Td (as ) Tj ET Q q 0 0 0 rg BT 331.53 264.75 Td (to ) Tj ET Q q 0 0 0 rg BT 340.04 264.75 Td (fast-forward ) Tj ET Q q 0 0 0 rg BT 381.87 264.75 Td (or ) Tj ET Q q 0 0 0 rg BT 390.82 264.75 Td (skip ) Tj ET Q q 0 0 0 rg BT 406.45 264.75 Td (advertisements, ) Tj ET Q q 0 0 0 rg BT 458.72 264.75 Td (may ) Tj ET Q q 0 0 0 rg BT 474.79 264.75 Td (cause ) Tj ET Q q 0 0 0 rg BT 494.84 264.75 Td (changes ) Tj ET Q q 0 0 0 rg BT 522.90 264.75 Td (in ) Tj ET Q q 0 0 0 rg BT 531.41 264.75 Td (consumer ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 255.15 Td (behavior ) Tj ET Q q 0 0 0 rg BT 80.06 255.15 Td (that ) Tj ET Q q 0 0 0 rg BT 94.63 255.15 Td (could ) Tj ET Q q 0 0 0 rg BT 114.98 255.15 Td (impact ) Tj ET Q q 0 0 0 rg BT 139.32 255.15 Td (our ) Tj ET Q q 0 0 0 rg BT 152.56 255.15 Td (businesses. ) Tj ET Q q 0 0 0 rg BT 190.91 255.15 Td (In ) Tj ET Q q 0 0 0 rg BT 200.15 255.15 Td (addition, ) Tj ET Q q 0 0 0 rg BT 230.94 255.15 Td (compression ) Tj ET Q q 0 0 0 rg BT 273.95 255.15 Td (techniques ) Tj ET Q q 0 0 0 rg BT 310.73 255.15 Td (and ) Tj ET Q q 0 0 0 rg BT 324.86 255.15 Td (other ) Tj ET Q q 0 0 0 rg BT 343.87 255.15 Td (technological ) Tj ET Q q 0 0 0 rg BT 389.53 255.15 Td (developments ) Tj ET Q q 0 0 0 rg BT 436.54 255.15 Td (allow ) Tj ET Q q 0 0 0 rg BT 456.89 255.15 Td (for ) Tj ET Q q 0 0 0 rg BT 468.79 255.15 Td (an ) Tj ET Q q 0 0 0 rg BT 478.91 255.15 Td (increase ) Tj ET Q q 0 0 0 rg BT 507.69 255.15 Td (in ) Tj ET Q q 0 0 0 rg BT 516.49 255.15 Td (the ) Tj ET Q q 0 0 0 rg BT 528.83 255.15 Td (number ) Tj ET Q q 0 0 0 rg BT 555.84 255.15 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 245.55 Td (channels ) Tj ET Q q 0 0 0 rg BT 79.60 245.55 Td (that ) Tj ET Q q 0 0 0 rg BT 93.71 245.55 Td (may ) Tj ET Q q 0 0 0 rg BT 109.60 245.55 Td (be ) Tj ET Q q 0 0 0 rg BT 119.26 245.55 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 152.03 245.55 Td (in ) Tj ET Q q 0 0 0 rg BT 160.36 245.55 Td (our ) Tj ET Q q 0 0 0 rg BT 173.14 245.55 Td (markets ) Tj ET Q q 0 0 0 rg BT 200.58 245.55 Td (and ) Tj ET Q q 0 0 0 rg BT 214.24 245.55 Td (expanded ) Tj ET Q q 0 0 0 rg BT 247.01 245.55 Td (programming ) Tj ET Q q 0 0 0 rg BT 292.67 245.55 Td (of) Tj ET Q q 0 0 0 rg BT 299.19 245.55 Td (ferings ) Tj ET Q q 0 0 0 rg BT 323.52 245.55 Td (that ) Tj ET Q q 0 0 0 rg BT 337.63 245.55 Td (may ) Tj ET Q q 0 0 0 rg BT 353.51 245.55 Td (be ) Tj ET Q q 0 0 0 rg BT 363.18 245.55 Td (of) Tj ET Q q 0 0 0 rg BT 369.70 245.55 Td (fered ) Tj ET Q q 0 0 0 rg BT 388.24 245.55 Td (to ) Tj ET Q q 0 0 0 rg BT 396.57 245.55 Td (highly ) Tj ET Q q 0 0 0 rg BT 419.13 245.55 Td (tar) Tj ET Q q 0 0 0 rg BT 427.43 245.55 Td (geted ) Tj ET Q q 0 0 0 rg BT 446.86 245.55 Td (audiences. ) Tj ET Q q 0 0 0 rg BT 482.52 245.55 Td (Reductions ) Tj ET Q q 0 0 0 rg BT 520.63 245.55 Td (in ) Tj ET Q q 0 0 0 rg BT 528.96 245.55 Td (the ) Tj ET Q q 0 0 0 rg BT 540.85 245.55 Td (cost ) Tj ET Q q 0 0 0 rg BT 555.85 245.55 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 235.95 Td (launching ) Tj ET Q q 0 0 0 rg BT 82.78 235.95 Td (additional ) Tj ET Q q 0 0 0 rg BT 116.51 235.95 Td (channels ) Tj ET Q q 0 0 0 rg BT 146.23 235.95 Td (could ) Tj ET Q q 0 0 0 rg BT 165.73 235.95 Td (lower ) Tj ET Q q 0 0 0 rg BT 185.68 235.95 Td (entry ) Tj ET Q q 0 0 0 rg BT 203.85 235.95 Td (barriers ) Tj ET Q q 0 0 0 rg BT 230.02 235.95 Td (for ) Tj ET Q q 0 0 0 rg BT 241.08 235.95 Td (new ) Tj ET Q q 0 0 0 rg BT 256.14 235.95 Td (channels ) Tj ET Q q 0 0 0 rg BT 285.86 235.95 Td (and ) Tj ET Q q 0 0 0 rg BT 299.15 235.95 Td (encourage ) Tj ET Q q 0 0 0 rg BT 333.75 235.95 Td (the ) Tj ET Q q 0 0 0 rg BT 345.25 235.95 Td (development ) Tj ET Q q 0 0 0 rg BT 388.31 235.95 Td (of ) Tj ET Q q 0 0 0 rg BT 396.70 235.95 Td (increasingly ) Tj ET Q q 0 0 0 rg BT 437.54 235.95 Td (tar) Tj ET Q q 0 0 0 rg BT 445.83 235.95 Td (geted ) Tj ET Q q 0 0 0 rg BT 464.89 235.95 Td (niche ) Tj ET Q q 0 0 0 rg BT 483.94 235.95 Td (programming ) Tj ET Q q 0 0 0 rg BT 529.22 235.95 Td (on ) Tj ET Q q 0 0 0 rg BT 538.96 235.95 Td (various ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 226.35 Td (distribution ) Tj ET Q q 0 0 0 rg BT 87.98 226.35 Td (platforms. ) Tj ET Q q 0 0 0 rg BT 122.24 226.35 Td (Our ) Tj ET Q q 0 0 0 rg BT 136.27 226.35 Td (television ) Tj ET Q q 0 0 0 rg BT 168.97 226.35 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 211.44 226.35 Td (operations ) Tj ET Q q 0 0 0 rg BT 246.36 226.35 Td (may ) Tj ET Q q 0 0 0 rg BT 261.73 226.35 Td (be ) Tj ET Q q 0 0 0 rg BT 270.87 226.35 Td (required ) Tj ET Q q 0 0 0 rg BT 299.12 226.35 Td (to ) Tj ET Q q 0 0 0 rg BT 306.93 226.35 Td (expend ) Tj ET Q q 0 0 0 rg BT 331.63 226.35 Td (substantial ) Tj ET Q q 0 0 0 rg BT 367.44 226.35 Td (financial ) Tj ET Q q 0 0 0 rg BT 397.02 226.35 Td (and ) Tj ET Q q 0 0 0 rg BT 410.16 226.35 Td (managerial ) Tj ET Q q 0 0 0 rg BT 447.29 226.35 Td (resources ) Tj ET Q q 0 0 0 rg BT 479.09 226.35 Td (to ) Tj ET Q q 0 0 0 rg BT 486.91 226.35 Td (ensure ) Tj ET Q q 0 0 0 rg BT 509.38 226.35 Td (necessary ) Tj ET Q q 0 0 0 rg BT 542.07 226.35 Td (access ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 216.75 Td (to ) Tj ET Q q 0 0 0 rg BT 57.69 216.75 Td (new ) Tj ET Q q 0 0 0 rg BT 72.98 216.75 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 115.83 216.75 Td (technologies ) Tj ET Q q 0 0 0 rg BT 158.23 216.75 Td (or ) Tj ET Q q 0 0 0 rg BT 166.86 216.75 Td (distribution ) Tj ET Q q 0 0 0 rg BT 205.71 216.75 Td (systems. ) Tj ET Q q 0 0 0 rg BT 235.02 216.75 Td (In ) Tj ET Q q 0 0 0 rg BT 243.65 216.75 Td (addition, ) Tj ET Q q 0 0 0 rg BT 273.83 216.75 Td (an ) Tj ET Q q 0 0 0 rg BT 283.35 216.75 Td (expansion ) Tj ET Q q 0 0 0 rg BT 317.76 216.75 Td (in ) Tj ET Q q 0 0 0 rg BT 325.95 216.75 Td (competition ) Tj ET Q q 0 0 0 rg BT 366.13 216.75 Td (due ) Tj ET Q q 0 0 0 rg BT 379.64 216.75 Td (to ) Tj ET Q q 0 0 0 rg BT 387.83 216.75 Td (technological ) Tj ET Q q 0 0 0 rg BT 432.89 216.75 Td (innovation ) Tj ET Q q 0 0 0 rg BT 469.08 216.75 Td (may ) Tj ET Q q 0 0 0 rg BT 484.82 216.75 Td (increase ) Tj ET Q q 0 0 0 rg BT 512.99 216.75 Td (competition ) Tj ET Q q 0 0 0 rg BT 553.17 216.75 Td (for ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 207.15 Td (audiences ) Tj ET Q q 0 0 0 rg BT 82.70 207.15 Td (and ) Tj ET Q q 0 0 0 rg BT 95.92 207.15 Td (advertising ) Tj ET Q q 0 0 0 rg BT 133.13 207.15 Td (revenue ) Tj ET Q q 0 0 0 rg BT 160.11 207.15 Td (as ) Tj ET Q q 0 0 0 rg BT 168.44 207.15 Td (well ) Tj ET Q q 0 0 0 rg BT 183.88 207.15 Td (as ) Tj ET Q q 0 0 0 rg BT 192.21 207.15 Td (the ) Tj ET Q q 0 0 0 rg BT 203.65 207.15 Td (competitive ) Tj ET Q q 0 0 0 rg BT 243.08 207.15 Td (demand ) Tj ET Q q 0 0 0 rg BT 270.07 207.15 Td (for ) Tj ET Q q 0 0 0 rg BT 281.06 207.15 Td (programming. ) Tj ET Q q 0 0 0 rg BT 327.91 207.15 Td (Any ) Tj ET Q q 0 0 0 rg BT 343.35 207.15 Td (requirement ) Tj ET Q q 0 0 0 rg BT 383.66 207.15 Td (for ) Tj ET Q q 0 0 0 rg BT 394.65 207.15 Td (substantial ) Tj ET Q q 0 0 0 rg BT 430.54 207.15 Td (further ) Tj ET Q q 0 0 0 rg BT 453.97 207.15 Td (investment ) Tj ET Q q 0 0 0 rg BT 490.74 207.15 Td (to ) Tj ET Q q 0 0 0 rg BT 498.63 207.15 Td (address ) Tj ET Q q 0 0 0 rg BT 524.28 207.15 Td (competition ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 197.55 Td (that ) Tj ET Q q 0 0 0 rg BT 63.50 197.55 Td (arises ) Tj ET Q q 0 0 0 rg BT 83.71 197.55 Td (on ) Tj ET Q q 0 0 0 rg BT 93.71 197.55 Td (account ) Tj ET Q q 0 0 0 rg BT 120.59 197.55 Td (of ) Tj ET Q q 0 0 0 rg BT 129.25 197.55 Td (technological ) Tj ET Q q 0 0 0 rg BT 174.34 197.55 Td (innovations ) Tj ET Q q 0 0 0 rg BT 213.68 197.55 Td (in ) Tj ET Q q 0 0 0 rg BT 221.90 197.55 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 264.77 197.55 Td (may ) Tj ET Q q 0 0 0 rg BT 280.55 197.55 Td (have ) Tj ET Q q 0 0 0 rg BT 297.65 197.55 Td (an ) Tj ET Q q 0 0 0 rg BT 307.20 197.55 Td (adverse ) Tj ET Q q 0 0 0 rg BT 333.63 197.55 Td (ef) Tj ET Q q 0 0 0 rg BT 339.70 197.55 Td (fect ) Tj ET Q q 0 0 0 rg BT 353.69 197.55 Td (on ) Tj ET Q q 0 0 0 rg BT 363.69 197.55 Td (our ) Tj ET Q q 0 0 0 rg BT 376.35 197.55 Td (financial ) Tj ET Q q 0 0 0 rg BT 406.34 197.55 Td (position, ) Tj ET Q q 0 0 0 rg BT 436.12 197.55 Td (results ) Tj ET Q q 0 0 0 rg BT 459.00 197.55 Td (of ) Tj ET Q q 0 0 0 rg BT 467.67 197.55 Td (operations ) Tj ET Q q 0 0 0 rg BT 502.99 197.55 Td (and ) Tj ET Q q 0 0 0 rg BT 516.54 197.55 Td (cash ) Tj ET Q q 0 0 0 rg BT 532.76 197.55 Td (flows.) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 177.60 Td (Piracy ) Tj ET Q q 0 0 0 rg BT 72.82 177.60 Td (of ) Tj ET Q q 0 0 0 rg BT 81.49 177.60 Td (our ) Tj ET Q q 0 0 0 rg BT 95.05 177.60 Td (content ) Tj ET Q q 0 0 0 rg BT 121.50 177.60 Td (may ) Tj ET Q q 0 0 0 rg BT 137.27 177.60 Td (decrease ) Tj ET Q q 0 0 0 rg BT 167.70 177.60 Td (revenues ) Tj ET Q q 0 0 0 rg BT 199.03 177.60 Td (we ) Tj ET Q q 0 0 0 rg BT 209.91 177.60 Td (can ) Tj ET Q q 0 0 0 rg BT 223.91 177.60 Td (earn ) Tj ET Q q 0 0 0 rg BT 241.03 177.60 Td (from ) Tj ET Q q 0 0 0 rg BT 259.03 177.60 Td (our ) Tj ET Q q 0 0 0 rg BT 272.59 177.60 Td (content ) Tj ET Q q 0 0 0 rg BT 299.04 177.60 Td (and ) Tj ET Q q 0 0 0 rg BT 313.48 177.60 Td (adversely ) Tj ET Q q 0 0 0 rg BT 346.14 177.60 Td (impact ) Tj ET Q q 0 0 0 rg BT 370.36 177.60 Td (our ) Tj ET Q q 0 0 0 rg BT 383.92 177.60 Td (business ) Tj ET Q q 0 0 0 rg BT 413.93 177.60 Td (and ) Tj ET Q q 0 0 0 rg BT 428.38 177.60 Td (profitability) Tj ET Q q 0 0 0 rg BT 466.75 177.60 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 162.00 Td (Piracy ) Tj ET Q q 0 0 0 rg BT 71.52 162.00 Td (of ) Tj ET Q q 0 0 0 rg BT 79.76 162.00 Td (our ) Tj ET Q q 0 0 0 rg BT 92.00 162.00 Td (content ) Tj ET Q q 0 0 0 rg BT 117.13 162.00 Td (poses ) Tj ET Q q 0 0 0 rg BT 136.49 162.00 Td (significant ) Tj ET Q q 0 0 0 rg BT 171.83 162.00 Td (challenges ) Tj ET Q q 0 0 0 rg BT 207.17 162.00 Td (in ) Tj ET Q q 0 0 0 rg BT 214.98 162.00 Td (our ) Tj ET Q q 0 0 0 rg BT 227.22 162.00 Td (markets. ) Tj ET Q q 0 0 0 rg BT 256.01 162.00 Td (T) Tj ET Q q 0 0 0 rg BT 260.34 162.00 Td (echnological ) Tj ET Q q 0 0 0 rg BT 302.79 162.00 Td (developments, ) Tj ET Q q 0 0 0 rg BT 350.80 162.00 Td (including ) Tj ET Q q 0 0 0 rg BT 382.60 162.00 Td (digital ) Tj ET Q q 0 0 0 rg BT 404.62 162.00 Td (copying, ) Tj ET Q q 0 0 0 rg BT 433.97 162.00 Td (file ) Tj ET Q q 0 0 0 rg BT 446.21 162.00 Td (compressing, ) Tj ET Q q 0 0 0 rg BT 490.23 162.00 Td (the ) Tj ET Q q 0 0 0 rg BT 501.58 162.00 Td (use ) Tj ET Q q 0 0 0 rg BT 513.82 162.00 Td (of ) Tj ET Q q 0 0 0 rg BT 522.07 162.00 Td (international ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 152.40 Td (proxies ) Tj ET Q q 0 0 0 rg BT 74.72 152.40 Td (and ) Tj ET Q q 0 0 0 rg BT 87.94 152.40 Td (the ) Tj ET Q q 0 0 0 rg BT 99.38 152.40 Td (growing ) Tj ET Q q 0 0 0 rg BT 127.71 152.40 Td (penetration ) Tj ET Q q 0 0 0 rg BT 165.37 152.40 Td (of ) Tj ET Q q 0 0 0 rg BT 173.70 152.40 Td (high ) Tj ET Q q 0 0 0 rg BT 189.59 152.40 Td (bandwidth ) Tj ET Q q 0 0 0 rg BT 225.04 152.40 Td (internet ) Tj ET Q q 0 0 0 rg BT 251.14 152.40 Td (connections, ) Tj ET Q q 0 0 0 rg BT 293.02 152.40 Td (have ) Tj ET Q q 0 0 0 rg BT 309.79 152.40 Td (made ) Tj ET Q q 0 0 0 rg BT 328.78 152.40 Td (it ) Tj ET Q q 0 0 0 rg BT 334.90 152.40 Td (easier ) Tj ET Q q 0 0 0 rg BT 355.22 152.40 Td (to ) Tj ET Q q 0 0 0 rg BT 363.11 152.40 Td (create, ) Tj ET Q q 0 0 0 rg BT 385.87 152.40 Td (transmit ) Tj ET Q q 0 0 0 rg BT 413.75 152.40 Td (and ) Tj ET Q q 0 0 0 rg BT 426.97 152.40 Td (distribute ) Tj ET Q q 0 0 0 rg BT 458.86 152.40 Td (high ) Tj ET Q q 0 0 0 rg BT 474.75 152.40 Td (quality ) Tj ET Q q 0 0 0 rg BT 498.64 152.40 Td (unauthorized ) Tj ET Q q 0 0 0 rg BT 542.07 152.40 Td (copies ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 142.80 Td (of ) Tj ET Q q 0 0 0 rg BT 58.70 142.80 Td (content ) Tj ET Q q 0 0 0 rg BT 84.78 142.80 Td (in ) Tj ET Q q 0 0 0 rg BT 93.53 142.80 Td (unprotected ) Tj ET Q q 0 0 0 rg BT 133.82 142.80 Td (digital ) Tj ET Q q 0 0 0 rg BT 156.80 142.80 Td (formats. ) Tj ET Q q 0 0 0 rg BT 185.77 142.80 Td (Furthermore, ) Tj ET Q q 0 0 0 rg BT 230.29 142.80 Td (there ) Tj ET Q q 0 0 0 rg BT 248.81 142.80 Td (are ) Tj ET Q q 0 0 0 rg BT 261.11 142.80 Td (a ) Tj ET Q q 0 0 0 rg BT 267.19 142.80 Td (growing ) Tj ET Q q 0 0 0 rg BT 296.39 142.80 Td (number ) Tj ET Q q 0 0 0 rg BT 323.36 142.80 Td (of ) Tj ET Q q 0 0 0 rg BT 332.55 142.80 Td (video ) Tj ET Q q 0 0 0 rg BT 352.86 142.80 Td (streaming ) Tj ET Q q 0 0 0 rg BT 386.94 142.80 Td (sites, ) Tj ET Q q 0 0 0 rg BT 405.69 142.80 Td (increasing ) Tj ET Q q 0 0 0 rg BT 441.10 142.80 Td (the ) Tj ET Q q 0 0 0 rg BT 453.40 142.80 Td (risk ) Tj ET Q q 0 0 0 rg BT 467.94 142.80 Td (of ) Tj ET Q q 0 0 0 rg BT 477.13 142.80 Td (online ) Tj ET Q q 0 0 0 rg BT 499.66 142.80 Td (transmission ) Tj ET Q q 0 0 0 rg BT 542.64 142.80 Td (of ) Tj ET Q q 0 0 0 rg BT 551.83 142.80 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 133.20 Td (content ) Tj ET Q q 0 0 0 rg BT 75.59 133.20 Td (without ) Tj ET Q q 0 0 0 rg BT 102.59 133.20 Td (consent. ) Tj ET Q q 0 0 0 rg BT 131.39 133.20 Td (The ) Tj ET Q q 0 0 0 rg BT 146.37 133.20 Td (proliferation ) Tj ET Q q 0 0 0 rg BT 188.90 133.20 Td (of ) Tj ET Q q 0 0 0 rg BT 198.11 133.20 Td (such ) Tj ET Q q 0 0 0 rg BT 215.32 133.20 Td (sites ) Tj ET Q q 0 0 0 rg BT 232.09 133.20 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 275.52 133.20 Td (content ) Tj ET Q q 0 0 0 rg BT 301.61 133.20 Td (pirated ) Tj ET Q q 0 0 0 rg BT 326.37 133.20 Td (from ) Tj ET Q q 0 0 0 rg BT 344.46 133.20 Td (us ) Tj ET Q q 0 0 0 rg BT 354.12 133.20 Td (could ) Tj ET Q q 0 0 0 rg BT 374.44 133.20 Td (result ) Tj ET Q q 0 0 0 rg BT 394.77 133.20 Td (in ) Tj ET Q q 0 0 0 rg BT 403.53 133.20 Td (a ) Tj ET Q q 0 0 0 rg BT 409.63 133.20 Td (reduction ) Tj ET Q q 0 0 0 rg BT 442.39 133.20 Td (of ) Tj ET Q q 0 0 0 rg BT 451.60 133.20 Td (revenues ) Tj ET Q q 0 0 0 rg BT 482.58 133.20 Td (that ) Tj ET Q q 0 0 0 rg BT 497.12 133.20 Td (we ) Tj ET Q q 0 0 0 rg BT 509.00 133.20 Td (receive ) Tj ET Q q 0 0 0 rg BT 534.63 133.20 Td (from ) Tj ET Q q 0 0 0 rg BT 552.73 133.20 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 123.60 Td (legitimate ) Tj ET Q q 0 0 0 rg BT 83.41 123.60 Td (distribution ) Tj ET Q q 0 0 0 rg BT 122.23 123.60 Td (of ) Tj ET Q q 0 0 0 rg BT 130.81 123.60 Td (our ) Tj ET Q q 0 0 0 rg BT 143.40 123.60 Td (content, ) Tj ET Q q 0 0 0 rg BT 170.87 123.60 Td (including ) Tj ET Q q 0 0 0 rg BT 203.02 123.60 Td (through ) Tj ET Q q 0 0 0 rg BT 229.83 123.60 Td (video-on-demand ) Tj ET Q q 0 0 0 rg BT 288.18 123.60 Td (and ) Tj ET Q q 0 0 0 rg BT 301.65 123.60 Td (other ) Tj ET Q q 0 0 0 rg BT 320.01 123.60 Td (services. ) Tj ET Q q 0 0 0 rg BT 349.70 123.60 Td (Protection ) Tj ET Q q 0 0 0 rg BT 384.51 123.60 Td (of ) Tj ET Q q 0 0 0 rg BT 393.10 123.60 Td (our ) Tj ET Q q 0 0 0 rg BT 405.68 123.60 Td (intellectual ) Tj ET Q q 0 0 0 rg BT 443.15 123.60 Td (property ) Tj ET Q q 0 0 0 rg BT 472.17 123.60 Td (is ) Tj ET Q q 0 0 0 rg BT 479.43 123.60 Td (in ) Tj ET Q q 0 0 0 rg BT 487.58 123.60 Td (lar) Tj ET Q q 0 0 0 rg BT 495.87 123.60 Td (ge ) Tj ET Q q 0 0 0 rg BT 505.35 123.60 Td (part ) Tj ET Q q 0 0 0 rg BT 519.71 123.60 Td (dependent ) Tj ET Q q 0 0 0 rg BT 554.51 123.60 Td (on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 114.00 Td (the ) Tj ET Q q 0 0 0 rg BT 61.31 114.00 Td (manner ) Tj ET Q q 0 0 0 rg BT 87.33 114.00 Td (in ) Tj ET Q q 0 0 0 rg BT 95.58 114.00 Td (which ) Tj ET Q q 0 0 0 rg BT 117.17 114.00 Td (applicable ) Tj ET Q q 0 0 0 rg BT 152.07 114.00 Td (intellectual ) Tj ET Q q 0 0 0 rg BT 189.64 114.00 Td (property ) Tj ET Q q 0 0 0 rg BT 218.78 114.00 Td (laws ) Tj ET Q q 0 0 0 rg BT 235.48 114.00 Td (in ) Tj ET Q q 0 0 0 rg BT 243.73 114.00 Td (the ) Tj ET Q q 0 0 0 rg BT 255.54 114.00 Td (countries ) Tj ET Q q 0 0 0 rg BT 286.90 114.00 Td (in ) Tj ET Q q 0 0 0 rg BT 295.15 114.00 Td (which ) Tj ET Q q 0 0 0 rg BT 316.74 114.00 Td (we ) Tj ET Q q 0 0 0 rg BT 328.10 114.00 Td (operate ) Tj ET Q q 0 0 0 rg BT 353.67 114.00 Td (are ) Tj ET Q q 0 0 0 rg BT 365.47 114.00 Td (construed ) Tj ET Q q 0 0 0 rg BT 398.60 114.00 Td (and ) Tj ET Q q 0 0 0 rg BT 412.19 114.00 Td (enforced. ) Tj ET Q q 0 0 0 rg BT 444.05 114.00 Td (W) Tj ET Q q 0 0 0 rg BT 450.96 114.00 Td (e ) Tj ET Q q 0 0 0 rg BT 456.55 114.00 Td (seek ) Tj ET Q q 0 0 0 rg BT 472.80 114.00 Td (to ) Tj ET Q q 0 0 0 rg BT 481.05 114.00 Td (limit ) Tj ET Q q 0 0 0 rg BT 498.20 114.00 Td (the ) Tj ET Q q 0 0 0 rg BT 510.01 114.00 Td (threat ) Tj ET Q q 0 0 0 rg BT 530.25 114.00 Td (of ) Tj ET Q q 0 0 0 rg BT 538.95 114.00 Td (content ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 104.40 Td (piracy) Tj ET Q q 0 0 0 rg BT 68.97 104.40 Td (. ) Tj ET Q q 0 0 0 rg BT 72.62 104.40 Td (However) Tj ET Q q 0 0 0 rg BT 101.62 104.40 Td (, ) Tj ET Q q 0 0 0 rg BT 105.27 104.40 Td (detecting ) Tj ET Q q 0 0 0 rg BT 136.25 104.40 Td (and ) Tj ET Q q 0 0 0 rg BT 149.45 104.40 Td (policing ) Tj ET Q q 0 0 0 rg BT 177.32 104.40 Td (the ) Tj ET Q q 0 0 0 rg BT 188.75 104.40 Td (unauthorized ) Tj ET Q q 0 0 0 rg BT 232.16 104.40 Td (use ) Tj ET Q q 0 0 0 rg BT 244.48 104.40 Td (of ) Tj ET Q q 0 0 0 rg BT 252.79 104.40 Td (our ) Tj ET Q q 0 0 0 rg BT 265.11 104.40 Td (intellectual ) Tj ET Q q 0 0 0 rg BT 302.30 104.40 Td (property ) Tj ET Q q 0 0 0 rg BT 331.05 104.40 Td (is ) Tj ET Q q 0 0 0 rg BT 338.04 104.40 Td (often ) Tj ET Q q 0 0 0 rg BT 356.13 104.40 Td (dif) Tj ET Q q 0 0 0 rg BT 364.88 104.40 Td (ficult ) Tj ET Q q 0 0 0 rg BT 383.41 104.40 Td (and ) Tj ET Q q 0 0 0 rg BT 396.61 104.40 Td (remedies ) Tj ET Q q 0 0 0 rg BT 427.14 104.40 Td (may ) Tj ET Q q 0 0 0 rg BT 442.57 104.40 Td (be ) Tj ET Q q 0 0 0 rg BT 451.77 104.40 Td (limited ) Tj ET Q q 0 0 0 rg BT 476.09 104.40 Td (under ) Tj ET Q q 0 0 0 rg BT 495.95 104.40 Td (applicable ) Tj ET Q q 0 0 0 rg BT 530.48 104.40 Td (law) Tj ET Q q 0 0 0 rg BT 541.51 104.40 Td (. ) Tj ET Q q 0 0 0 rg BT 545.16 104.40 Td (Steps ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 94.80 Td (we ) Tj ET Q q 0 0 0 rg BT 61.10 94.80 Td (take ) Tj ET Q q 0 0 0 rg BT 76.70 94.80 Td (may ) Tj ET Q q 0 0 0 rg BT 92.74 94.80 Td (not ) Tj ET Q q 0 0 0 rg BT 105.23 94.80 Td (prevent ) Tj ET Q q 0 0 0 rg BT 131.49 94.80 Td (the ) Tj ET Q q 0 0 0 rg BT 143.54 94.80 Td (infringement ) Tj ET Q q 0 0 0 rg BT 187.13 94.80 Td (by ) Tj ET Q q 0 0 0 rg BT 197.40 94.80 Td (third ) Tj ET Q q 0 0 0 rg BT 214.78 94.80 Td (parties. ) Tj ET Q q 0 0 0 rg BT 240.21 94.80 Td (There ) Tj ET Q q 0 0 0 rg BT 261.14 94.80 Td (can ) Tj ET Q q 0 0 0 rg BT 274.51 94.80 Td (be ) Tj ET Q q 0 0 0 rg BT 284.33 94.80 Td (no ) Tj ET Q q 0 0 0 rg BT 294.61 94.80 Td (assurance ) Tj ET Q q 0 0 0 rg BT 327.97 94.80 Td (that ) Tj ET Q q 0 0 0 rg BT 342.24 94.80 Td (our ) Tj ET Q q 0 0 0 rg BT 355.17 94.80 Td (ef) Tj ET Q q 0 0 0 rg BT 361.24 94.80 Td (forts ) Tj ET Q q 0 0 0 rg BT 378.18 94.80 Td (to ) Tj ET Q q 0 0 0 rg BT 386.67 94.80 Td (enforce ) Tj ET Q q 0 0 0 rg BT 412.93 94.80 Td (our ) Tj ET Q q 0 0 0 rg BT 425.86 94.80 Td (rights ) Tj ET Q q 0 0 0 rg BT 446.36 94.80 Td (and ) Tj ET Q q 0 0 0 rg BT 460.18 94.80 Td (protect ) Tj ET Q q 0 0 0 rg BT 484.66 94.80 Td (our ) Tj ET Q q 0 0 0 rg BT 497.60 94.80 Td (intellectual ) Tj ET Q q 0 0 0 rg BT 535.41 94.80 Td (property ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 85.20 Td (will ) Tj ET Q q 0 0 0 rg BT 63.95 85.20 Td (be ) Tj ET Q q 0 0 0 rg BT 73.50 85.20 Td (successful ) Tj ET Q q 0 0 0 rg BT 108.38 85.20 Td (in ) Tj ET Q q 0 0 0 rg BT 116.60 85.20 Td (preventing ) Tj ET Q q 0 0 0 rg BT 152.81 85.20 Td (piracy) Tj ET Q q 0 0 0 rg BT 172.28 85.20 Td (, ) Tj ET Q q 0 0 0 rg BT 176.28 85.20 Td (which ) Tj ET Q q 0 0 0 rg BT 197.83 85.20 Td (limits ) Tj ET Q q 0 0 0 rg BT 218.05 85.20 Td (our ) Tj ET Q q 0 0 0 rg BT 230.72 85.20 Td (ability ) Tj ET Q q 0 0 0 rg BT 253.16 85.20 Td (to ) Tj ET Q q 0 0 0 rg BT 261.38 85.20 Td (generate ) Tj ET Q q 0 0 0 rg BT 290.47 85.20 Td (revenues ) Tj ET Q q 0 0 0 rg BT 320.90 85.20 Td (from ) Tj ET Q q 0 0 0 rg BT 338.45 85.20 Td (our ) Tj ET Q q 0 0 0 rg BT 351.12 85.20 Td (content.) Tj ET Q endstream endobj 31 0 obj <>] /Rotate 0 /Contents 32 0 R>> endobj 32 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (13) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 723.60 Td (W) Tj ET Q q 0 0 0 rg BT 56.02 723.60 Td (e ) Tj ET Q q 0 0 0 rg BT 60.89 723.60 Td (rely ) Tj ET Q q 0 0 0 rg BT 74.65 723.60 Td (on ) Tj ET Q q 0 0 0 rg BT 84.42 723.60 Td (network ) Tj ET Q q 0 0 0 rg BT 112.42 723.60 Td (and ) Tj ET Q q 0 0 0 rg BT 126.19 723.60 Td (information ) Tj ET Q q 0 0 0 rg BT 167.08 723.60 Td (systems ) Tj ET Q q 0 0 0 rg BT 193.29 723.60 Td (and ) Tj ET Q q 0 0 0 rg BT 207.06 723.60 Td (other ) Tj ET Q q 0 0 0 rg BT 225.72 723.60 Td (technology ) Tj ET Q q 0 0 0 rg BT 263.04 723.60 Td (that ) Tj ET Q q 0 0 0 rg BT 277.25 723.60 Td (may ) Tj ET Q q 0 0 0 rg BT 292.35 723.60 Td (be ) Tj ET Q q 0 0 0 rg BT 301.22 723.60 Td (subject ) Tj ET Q q 0 0 0 rg BT 325.65 723.60 Td (to ) Tj ET Q q 0 0 0 rg BT 333.20 723.60 Td (disruption ) Tj ET Q q 0 0 0 rg BT 368.31 723.60 Td (or ) Tj ET Q q 0 0 0 rg BT 376.75 723.60 Td (misuse, ) Tj ET Q q 0 0 0 rg BT 402.74 723.60 Td (which ) Tj ET Q q 0 0 0 rg BT 424.07 723.60 Td (could ) Tj ET Q q 0 0 0 rg BT 443.62 723.60 Td (harm ) Tj ET Q q 0 0 0 rg BT 462.72 723.60 Td (our ) Tj ET Q q 0 0 0 rg BT 475.61 723.60 Td (business ) Tj ET Q q 0 0 0 rg BT 504.94 723.60 Td (or ) Tj ET Q q 0 0 0 rg BT 513.38 723.60 Td (our ) Tj ET Q q 0 0 0 rg BT 526.26 723.60 Td (reputation.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 708.00 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 708.00 Td (e ) Tj ET Q q 0 0 0 rg BT 62.19 708.00 Td (make ) Tj ET Q q 0 0 0 rg BT 81.75 708.00 Td (extensive ) Tj ET Q q 0 0 0 rg BT 114.19 708.00 Td (use ) Tj ET Q q 0 0 0 rg BT 127.09 708.00 Td (of ) Tj ET Q q 0 0 0 rg BT 135.99 708.00 Td (network ) Tj ET Q q 0 0 0 rg BT 164.43 708.00 Td (and ) Tj ET Q q 0 0 0 rg BT 178.22 708.00 Td (information ) Tj ET Q q 0 0 0 rg BT 218.22 708.00 Td (systems ) Tj ET Q q 0 0 0 rg BT 245.79 708.00 Td (and ) Tj ET Q q 0 0 0 rg BT 259.57 708.00 Td (other ) Tj ET Q q 0 0 0 rg BT 278.24 708.00 Td (technologies, ) Tj ET Q q 0 0 0 rg BT 322.91 708.00 Td (including ) Tj ET Q q 0 0 0 rg BT 355.36 708.00 Td (those ) Tj ET Q q 0 0 0 rg BT 374.48 708.00 Td (related ) Tj ET Q q 0 0 0 rg BT 398.47 708.00 Td (to ) Tj ET Q q 0 0 0 rg BT 406.93 708.00 Td (our ) Tj ET Q q 0 0 0 rg BT 419.82 708.00 Td (internal ) Tj ET Q q 0 0 0 rg BT 446.49 708.00 Td (network ) Tj ET Q q 0 0 0 rg BT 474.94 708.00 Td (management ) Tj ET Q q 0 0 0 rg BT 518.04 708.00 Td (as ) Tj ET Q q 0 0 0 rg BT 526.94 708.00 Td (well ) Tj ET Q q 0 0 0 rg BT 542.94 708.00 Td (as ) Tj ET Q q 0 0 0 rg BT 551.84 708.00 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 698.40 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 91.88 698.40 Td (operations. ) Tj ET Q q 0 0 0 rg BT 128.60 698.40 Td (These ) Tj ET Q q 0 0 0 rg BT 149.21 698.40 Td (systems ) Tj ET Q q 0 0 0 rg BT 176.06 698.40 Td (are ) Tj ET Q q 0 0 0 rg BT 187.33 698.40 Td (central ) Tj ET Q q 0 0 0 rg BT 210.60 698.40 Td (to ) Tj ET Q q 0 0 0 rg BT 218.33 698.40 Td (many ) Tj ET Q q 0 0 0 rg BT 237.61 698.40 Td (of ) Tj ET Q q 0 0 0 rg BT 245.78 698.40 Td (our ) Tj ET Q q 0 0 0 rg BT 257.95 698.40 Td (business ) Tj ET Q q 0 0 0 rg BT 286.57 698.40 Td (activities. ) Tj ET Q q 0 0 0 rg BT 318.95 698.40 Td (Network ) Tj ET Q q 0 0 0 rg BT 348.45 698.40 Td (and ) Tj ET Q q 0 0 0 rg BT 361.51 698.40 Td (information ) Tj ET Q q 0 0 0 rg BT 400.79 698.40 Td (systems-related ) Tj ET Q q 0 0 0 rg BT 452.06 698.40 Td (events, ) Tj ET Q q 0 0 0 rg BT 476.00 698.40 Td (such ) Tj ET Q q 0 0 0 rg BT 492.17 698.40 Td (as ) Tj ET Q q 0 0 0 rg BT 500.34 698.40 Td (computer ) Tj ET Q q 0 0 0 rg BT 532.06 698.40 Td (hackings, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 688.80 Td (computer ) Tj ET Q q 0 0 0 rg BT 81.19 688.80 Td (viruses, ) Tj ET Q q 0 0 0 rg BT 107.34 688.80 Td (worms ) Tj ET Q q 0 0 0 rg BT 130.60 688.80 Td (or ) Tj ET Q q 0 0 0 rg BT 138.75 688.80 Td (other ) Tj ET Q q 0 0 0 rg BT 156.67 688.80 Td (destructive ) Tj ET Q q 0 0 0 rg BT 193.25 688.80 Td (or ) Tj ET Q q 0 0 0 rg BT 201.40 688.80 Td (disruptive ) Tj ET Q q 0 0 0 rg BT 234.88 688.80 Td (software, ) Tj ET Q q 0 0 0 rg BT 265.91 688.80 Td (process ) Tj ET Q q 0 0 0 rg BT 291.38 688.80 Td (breakdowns, ) Tj ET Q q 0 0 0 rg BT 333.52 688.80 Td (malicious ) Tj ET Q q 0 0 0 rg BT 366.11 688.80 Td (activities ) Tj ET Q q 0 0 0 rg BT 396.47 688.80 Td (or ) Tj ET Q q 0 0 0 rg BT 404.62 688.80 Td (other ) Tj ET Q q 0 0 0 rg BT 422.54 688.80 Td (security ) Tj ET Q q 0 0 0 rg BT 449.35 688.80 Td (breaches ) Tj ET Q q 0 0 0 rg BT 478.81 688.80 Td (could ) Tj ET Q q 0 0 0 rg BT 498.07 688.80 Td (result ) Tj ET Q q 0 0 0 rg BT 517.33 688.80 Td (in ) Tj ET Q q 0 0 0 rg BT 525.03 688.80 Td (a ) Tj ET Q q 0 0 0 rg BT 530.07 688.80 Td (disruption ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 679.20 Td (or ) Tj ET Q q 0 0 0 rg BT 58.07 679.20 Td (degradation ) Tj ET Q q 0 0 0 rg BT 97.73 679.20 Td (of ) Tj ET Q q 0 0 0 rg BT 106.29 679.20 Td (our ) Tj ET Q q 0 0 0 rg BT 118.86 679.20 Td (services, ) Tj ET Q q 0 0 0 rg BT 148.53 679.20 Td (the ) Tj ET Q q 0 0 0 rg BT 160.20 679.20 Td (loss ) Tj ET Q q 0 0 0 rg BT 174.55 679.20 Td (of ) Tj ET Q q 0 0 0 rg BT 183.12 679.20 Td (information ) Tj ET Q q 0 0 0 rg BT 222.79 679.20 Td (or ) Tj ET Q q 0 0 0 rg BT 231.35 679.20 Td (the ) Tj ET Q q 0 0 0 rg BT 243.03 679.20 Td (improper ) Tj ET Q q 0 0 0 rg BT 274.25 679.20 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 308.59 679.20 Td (of ) Tj ET Q q 0 0 0 rg BT 317.16 679.20 Td (personal ) Tj ET Q q 0 0 0 rg BT 346.16 679.20 Td (data. ) Tj ET Q q 0 0 0 rg BT 363.25 679.20 Td (The ) Tj ET Q q 0 0 0 rg BT 377.59 679.20 Td (occurrence ) Tj ET Q q 0 0 0 rg BT 414.57 679.20 Td (of ) Tj ET Q q 0 0 0 rg BT 423.14 679.20 Td (any ) Tj ET Q q 0 0 0 rg BT 436.59 679.20 Td (of ) Tj ET Q q 0 0 0 rg BT 445.15 679.20 Td (these ) Tj ET Q q 0 0 0 rg BT 463.49 679.20 Td (events ) Tj ET Q q 0 0 0 rg BT 485.83 679.20 Td (could ) Tj ET Q q 0 0 0 rg BT 505.51 679.20 Td (negatively ) Tj ET Q q 0 0 0 rg BT 540.73 679.20 Td (impact ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 669.60 Td (our ) Tj ET Q q 0 0 0 rg BT 62.01 669.60 Td (business ) Tj ET Q q 0 0 0 rg BT 90.96 669.60 Td (by ) Tj ET Q q 0 0 0 rg BT 100.80 669.60 Td (requiring ) Tj ET Q q 0 0 0 rg BT 131.97 669.60 Td (us ) Tj ET Q q 0 0 0 rg BT 140.92 669.60 Td (to ) Tj ET Q q 0 0 0 rg BT 148.99 669.60 Td (expend ) Tj ET Q q 0 0 0 rg BT 173.93 669.60 Td (resources ) Tj ET Q q 0 0 0 rg BT 205.98 669.60 Td (to ) Tj ET Q q 0 0 0 rg BT 214.04 669.60 Td (remedy ) Tj ET Q q 0 0 0 rg BT 239.88 669.60 Td (such ) Tj ET Q q 0 0 0 rg BT 256.38 669.60 Td (a ) Tj ET Q q 0 0 0 rg BT 261.77 669.60 Td (security ) Tj ET Q q 0 0 0 rg BT 288.94 669.60 Td (breach ) Tj ET Q q 0 0 0 rg BT 312.10 669.60 Td (or ) Tj ET Q q 0 0 0 rg BT 320.60 669.60 Td (by ) Tj ET Q q 0 0 0 rg BT 330.45 669.60 Td (harming ) Tj ET Q q 0 0 0 rg BT 358.95 669.60 Td (our ) Tj ET Q q 0 0 0 rg BT 371.45 669.60 Td (reputation. ) Tj ET Q q 0 0 0 rg BT 407.73 669.60 Td (In ) Tj ET Q q 0 0 0 rg BT 416.23 669.60 Td (addition, ) Tj ET Q q 0 0 0 rg BT 446.29 669.60 Td (improper ) Tj ET Q q 0 0 0 rg BT 477.46 669.60 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 511.74 669.60 Td (of ) Tj ET Q q 0 0 0 rg BT 520.25 669.60 Td (personal ) Tj ET Q q 0 0 0 rg BT 549.19 669.60 Td (data ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 660.00 Td (could ) Tj ET Q q 0 0 0 rg BT 69.40 660.00 Td (subject ) Tj ET Q q 0 0 0 rg BT 94.18 660.00 Td (us ) Tj ET Q q 0 0 0 rg BT 103.42 660.00 Td (to ) Tj ET Q q 0 0 0 rg BT 111.77 660.00 Td (liability ) Tj ET Q q 0 0 0 rg BT 138.78 660.00 Td (under ) Tj ET Q q 0 0 0 rg BT 159.12 660.00 Td (laws ) Tj ET Q q 0 0 0 rg BT 175.90 660.00 Td (that ) Tj ET Q q 0 0 0 rg BT 190.02 660.00 Td (protect ) Tj ET Q q 0 0 0 rg BT 214.36 660.00 Td (personal ) Tj ET Q q 0 0 0 rg BT 243.58 660.00 Td (data ) Tj ET Q q 0 0 0 rg BT 259.03 660.00 Td (in ) Tj ET Q q 0 0 0 rg BT 267.38 660.00 Td (the ) Tj ET Q q 0 0 0 rg BT 279.28 660.00 Td (countries ) Tj ET Q q 0 0 0 rg BT 310.72 660.00 Td (in ) Tj ET Q q 0 0 0 rg BT 319.07 660.00 Td (which ) Tj ET Q q 0 0 0 rg BT 340.75 660.00 Td (we ) Tj ET Q q 0 0 0 rg BT 352.20 660.00 Td (operate. ) Tj ET Q q 0 0 0 rg BT 379.71 660.00 Td (The ) Tj ET Q q 0 0 0 rg BT 394.27 660.00 Td (development ) Tj ET Q q 0 0 0 rg BT 437.71 660.00 Td (and ) Tj ET Q q 0 0 0 rg BT 451.39 660.00 Td (maintenance ) Tj ET Q q 0 0 0 rg BT 493.93 660.00 Td (of ) Tj ET Q q 0 0 0 rg BT 502.72 660.00 Td (systems ) Tj ET Q q 0 0 0 rg BT 530.18 660.00 Td (to ) Tj ET Q q 0 0 0 rg BT 538.53 660.00 Td (prevent ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 650.40 Td (these ) Tj ET Q q 0 0 0 rg BT 68.50 650.40 Td (events ) Tj ET Q q 0 0 0 rg BT 91.51 650.40 Td (from ) Tj ET Q q 0 0 0 rg BT 109.62 650.40 Td (occurring ) Tj ET Q q 0 0 0 rg BT 142.84 650.40 Td (requires ) Tj ET Q q 0 0 0 rg BT 171.17 650.40 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 199.96 650.40 Td (monitoring ) Tj ET Q q 0 0 0 rg BT 238.08 650.40 Td (and ) Tj ET Q q 0 0 0 rg BT 252.20 650.40 Td (updating ) Tj ET Q q 0 0 0 rg BT 282.76 650.40 Td (as ) Tj ET Q q 0 0 0 rg BT 291.99 650.40 Td (ef) Tj ET Q q 0 0 0 rg BT 298.06 650.40 Td (forts ) Tj ET Q q 0 0 0 rg BT 315.29 650.40 Td (to ) Tj ET Q q 0 0 0 rg BT 324.07 650.40 Td (overcome ) Tj ET Q q 0 0 0 rg BT 358.18 650.40 Td (security ) Tj ET Q q 0 0 0 rg BT 386.07 650.40 Td (measures ) Tj ET Q q 0 0 0 rg BT 418.40 650.40 Td (become ) Tj ET Q q 0 0 0 rg BT 445.84 650.40 Td (more ) Tj ET Q q 0 0 0 rg BT 464.84 650.40 Td (sophisticated. ) Tj ET Q q 0 0 0 rg BT 510.61 650.40 Td (As ) Tj ET Q q 0 0 0 rg BT 522.07 650.40 Td (technologies ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 640.80 Td (evolve, ) Tj ET Q q 0 0 0 rg BT 75.22 640.80 Td (we ) Tj ET Q q 0 0 0 rg BT 86.95 640.80 Td (will ) Tj ET Q q 0 0 0 rg BT 101.80 640.80 Td (need ) Tj ET Q q 0 0 0 rg BT 119.30 640.80 Td (to ) Tj ET Q q 0 0 0 rg BT 127.92 640.80 Td (expend ) Tj ET Q q 0 0 0 rg BT 153.42 640.80 Td (additional ) Tj ET Q q 0 0 0 rg BT 187.81 640.80 Td (resources ) Tj ET Q q 0 0 0 rg BT 220.42 640.80 Td (to ) Tj ET Q q 0 0 0 rg BT 229.04 640.80 Td (protect ) Tj ET Q q 0 0 0 rg BT 253.65 640.80 Td (our ) Tj ET Q q 0 0 0 rg BT 266.71 640.80 Td (technology ) Tj ET Q q 0 0 0 rg BT 304.66 640.80 Td (and ) Tj ET Q q 0 0 0 rg BT 318.61 640.80 Td (information ) Tj ET Q q 0 0 0 rg BT 358.78 640.80 Td (systems, ) Tj ET Q q 0 0 0 rg BT 388.51 640.80 Td (which ) Tj ET Q q 0 0 0 rg BT 410.46 640.80 Td (could ) Tj ET Q q 0 0 0 rg BT 430.64 640.80 Td (have ) Tj ET Q q 0 0 0 rg BT 448.14 640.80 Td (an ) Tj ET Q q 0 0 0 rg BT 458.09 640.80 Td (adverse ) Tj ET Q q 0 0 0 rg BT 484.92 640.80 Td (impact ) Tj ET Q q 0 0 0 rg BT 509.09 640.80 Td (on ) Tj ET Q q 0 0 0 rg BT 519.49 640.80 Td (our ) Tj ET Q q 0 0 0 rg BT 532.55 640.80 Td (results ) Tj ET Q q 0 0 0 rg BT 555.84 640.80 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 631.20 Td (operations.) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 611.30 Td (Our ) Tj ET Q q 0 0 0 rg BT 64.35 611.30 Td (operations ) Tj ET Q q 0 0 0 rg BT 100.53 611.30 Td (are ) Tj ET Q q 0 0 0 rg BT 112.71 611.30 Td (in ) Tj ET Q q 0 0 0 rg BT 120.89 611.30 Td (developing ) Tj ET Q q 0 0 0 rg BT 157.94 611.30 Td (markets ) Tj ET Q q 0 0 0 rg BT 185.68 611.30 Td (where ) Tj ET Q q 0 0 0 rg BT 207.19 611.30 Td (there ) Tj ET Q q 0 0 0 rg BT 225.58 611.30 Td (are ) Tj ET Q q 0 0 0 rg BT 237.76 611.30 Td (additional ) Tj ET Q q 0 0 0 rg BT 272.61 611.30 Td (risks, ) Tj ET Q q 0 0 0 rg BT 291.68 611.30 Td (including ) Tj ET Q q 0 0 0 rg BT 324.75 611.30 Td (political ) Tj ET Q q 0 0 0 rg BT 352.93 611.30 Td (and ) Tj ET Q q 0 0 0 rg BT 366.89 611.30 Td (economic ) Tj ET Q q 0 0 0 rg BT 399.94 611.30 Td (uncertainty) Tj ET Q q 0 0 0 rg BT 437.43 611.30 Td (, ) Tj ET Q q 0 0 0 rg BT 440.94 611.30 Td (biased ) Tj ET Q q 0 0 0 rg BT 463.33 611.30 Td (treatment ) Tj ET Q q 0 0 0 rg BT 496.40 611.30 Td (and ) Tj ET Q q 0 0 0 rg BT 510.36 611.30 Td (loss ) Tj ET Q q 0 0 0 rg BT 524.32 611.30 Td (of ) Tj ET Q q 0 0 0 rg BT 532.49 611.30 Td (business.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 595.70 Td (Our ) Tj ET Q q 0 0 0 rg BT 64.09 595.70 Td (revenue-generating ) Tj ET Q q 0 0 0 rg BT 127.99 595.70 Td (operations ) Tj ET Q q 0 0 0 rg BT 163.46 595.70 Td (are ) Tj ET Q q 0 0 0 rg BT 175.38 595.70 Td (located ) Tj ET Q q 0 0 0 rg BT 200.63 595.70 Td (in ) Tj ET Q q 0 0 0 rg BT 209.00 595.70 Td (Central ) Tj ET Q q 0 0 0 rg BT 234.70 595.70 Td (and ) Tj ET Q q 0 0 0 rg BT 248.40 595.70 Td (Eastern ) Tj ET Q q 0 0 0 rg BT 274.54 595.70 Td (Europe ) Tj ET Q q 0 0 0 rg BT 299.79 595.70 Td (where ) Tj ET Q q 0 0 0 rg BT 321.49 595.70 Td (we ) Tj ET Q q 0 0 0 rg BT 332.97 595.70 Td (must ) Tj ET Q q 0 0 0 rg BT 350.68 595.70 Td (comply ) Tj ET Q q 0 0 0 rg BT 376.83 595.70 Td (with ) Tj ET Q q 0 0 0 rg BT 393.20 595.70 Td (various ) Tj ET Q q 0 0 0 rg BT 418.90 595.70 Td (laws ) Tj ET Q q 0 0 0 rg BT 435.72 595.70 Td (and ) Tj ET Q q 0 0 0 rg BT 449.42 595.70 Td (other ) Tj ET Q q 0 0 0 rg BT 468.01 595.70 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 503.04 595.70 Td (obligations ) Tj ET Q q 0 0 0 rg BT 540.74 595.70 Td (related ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 586.10 Td (to ) Tj ET Q q 0 0 0 rg BT 57.52 586.10 Td (our ) Tj ET Q q 0 0 0 rg BT 69.99 586.10 Td (businesses. ) Tj ET Q q 0 0 0 rg BT 107.56 586.10 Td (Compliance ) Tj ET Q q 0 0 0 rg BT 148.02 586.10 Td (with ) Tj ET Q q 0 0 0 rg BT 164.04 586.10 Td (foreign ) Tj ET Q q 0 0 0 rg BT 188.94 586.10 Td (as ) Tj ET Q q 0 0 0 rg BT 197.41 586.10 Td (well ) Tj ET Q q 0 0 0 rg BT 212.98 586.10 Td (as ) Tj ET Q q 0 0 0 rg BT 221.44 586.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 256.12 586.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 272.14 586.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 288.61 586.10 Td (and ) Tj ET Q q 0 0 0 rg BT 301.96 586.10 Td (regulations, ) Tj ET Q q 0 0 0 rg BT 341.30 586.10 Td (such ) Tj ET Q q 0 0 0 rg BT 357.77 586.10 Td (as ) Tj ET Q q 0 0 0 rg BT 366.23 586.10 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 408.91 586.10 Td (content ) Tj ET Q q 0 0 0 rg BT 434.25 586.10 Td (and ) Tj ET Q q 0 0 0 rg BT 447.60 586.10 Td (advertising ) Tj ET Q q 0 0 0 rg BT 484.95 586.10 Td (regulations, ) Tj ET Q q 0 0 0 rg BT 524.30 586.10 Td (competition ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 576.50 Td (regulations, ) Tj ET Q q 0 0 0 rg BT 88.32 576.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 99.36 576.50 Td (laws, ) Tj ET Q q 0 0 0 rg BT 117.29 576.50 Td (employment ) Tj ET Q q 0 0 0 rg BT 158.55 576.50 Td (laws, ) Tj ET Q q 0 0 0 rg BT 176.49 576.50 Td (data ) Tj ET Q q 0 0 0 rg BT 191.08 576.50 Td (protection ) Tj ET Q q 0 0 0 rg BT 224.79 576.50 Td (requirements, ) Tj ET Q q 0 0 0 rg BT 269.82 576.50 Td (and ) Tj ET Q q 0 0 0 rg BT 282.64 576.50 Td (anti-corruption ) Tj ET Q q 0 0 0 rg BT 331.89 576.50 Td (laws, ) Tj ET Q q 0 0 0 rg BT 349.82 576.50 Td (increases ) Tj ET Q q 0 0 0 rg BT 380.41 576.50 Td (the ) Tj ET Q q 0 0 0 rg BT 391.45 576.50 Td (costs ) Tj ET Q q 0 0 0 rg BT 408.72 576.50 Td (of ) Tj ET Q q 0 0 0 rg BT 416.66 576.50 Td (doing ) Tj ET Q q 0 0 0 rg BT 436.15 576.50 Td (business ) Tj ET Q q 0 0 0 rg BT 464.53 576.50 Td (in ) Tj ET Q q 0 0 0 rg BT 472.02 576.50 Td (these ) Tj ET Q q 0 0 0 rg BT 489.73 576.50 Td (jurisdictions. ) Tj ET Q q 0 0 0 rg BT 532.27 576.50 Td (Although ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 566.90 Td (the ) Tj ET Q q 0 0 0 rg BT 60.93 566.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 93.70 566.90 Td (has ) Tj ET Q q 0 0 0 rg BT 106.02 566.90 Td (implemented ) Tj ET Q q 0 0 0 rg BT 149.44 566.90 Td (policies ) Tj ET Q q 0 0 0 rg BT 175.98 566.90 Td (and ) Tj ET Q q 0 0 0 rg BT 189.19 566.90 Td (procedures ) Tj ET Q q 0 0 0 rg BT 225.94 566.90 Td (to ) Tj ET Q q 0 0 0 rg BT 233.82 566.90 Td (comply ) Tj ET Q q 0 0 0 rg BT 259.47 566.90 Td (with ) Tj ET Q q 0 0 0 rg BT 275.35 566.90 Td (these ) Tj ET Q q 0 0 0 rg BT 293.45 566.90 Td (laws ) Tj ET Q q 0 0 0 rg BT 309.77 566.90 Td (and ) Tj ET Q q 0 0 0 rg BT 322.98 566.90 Td (regulations, ) Tj ET Q q 0 0 0 rg BT 362.18 566.90 Td (a ) Tj ET Q q 0 0 0 rg BT 367.39 566.90 Td (violation ) Tj ET Q q 0 0 0 rg BT 397.49 566.90 Td (by ) Tj ET Q q 0 0 0 rg BT 407.15 566.90 Td (the ) Tj ET Q q 0 0 0 rg BT 418.58 566.90 Td (Company) Tj ET Q q 0 0 0 rg BT 451.91 566.90 Td (s ) Tj ET Q q 0 0 0 rg BT 456.68 566.90 Td (employees, ) Tj ET Q q 0 0 0 rg BT 494.55 566.90 Td (contractors, ) Tj ET Q q 0 0 0 rg BT 533.74 566.90 Td (or ) Tj ET Q q 0 0 0 rg BT 542.06 566.90 Td (agents ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 557.30 Td (could ) Tj ET Q q 0 0 0 rg BT 69.33 557.30 Td (nevertheless ) Tj ET Q q 0 0 0 rg BT 110.93 557.30 Td (occur) Tj ET Q q 0 0 0 rg BT 128.25 557.30 Td (. ) Tj ET Q q 0 0 0 rg BT 132.16 557.30 Td (The ) Tj ET Q q 0 0 0 rg BT 146.65 557.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 179.82 557.30 Td (may ) Tj ET Q q 0 0 0 rg BT 195.65 557.30 Td (also ) Tj ET Q q 0 0 0 rg BT 210.59 557.30 Td (be ) Tj ET Q q 0 0 0 rg BT 220.20 557.30 Td (significantly ) Tj ET Q q 0 0 0 rg BT 262.25 557.30 Td (af) Tj ET Q q 0 0 0 rg BT 268.32 557.30 Td (fected ) Tj ET Q q 0 0 0 rg BT 289.91 557.30 Td (by ) Tj ET Q q 0 0 0 rg BT 299.97 557.30 Td (other ) Tj ET Q q 0 0 0 rg BT 318.46 557.30 Td (risks ) Tj ET Q q 0 0 0 rg BT 335.63 557.30 Td (that ) Tj ET Q q 0 0 0 rg BT 349.69 557.30 Td (may ) Tj ET Q q 0 0 0 rg BT 365.52 557.30 Td (be ) Tj ET Q q 0 0 0 rg BT 375.13 557.30 Td (dif) Tj ET Q q 0 0 0 rg BT 383.87 557.30 Td (ferent ) Tj ET Q q 0 0 0 rg BT 404.58 557.30 Td (to ) Tj ET Q q 0 0 0 rg BT 412.86 557.30 Td (those ) Tj ET Q q 0 0 0 rg BT 431.80 557.30 Td (posed ) Tj ET Q q 0 0 0 rg BT 452.52 557.30 Td (by ) Tj ET Q q 0 0 0 rg BT 462.58 557.30 Td (investments ) Tj ET Q q 0 0 0 rg BT 502.85 557.30 Td (in ) Tj ET Q q 0 0 0 rg BT 511.13 557.30 Td (more ) Tj ET Q q 0 0 0 rg BT 529.63 557.30 Td (developed ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 547.70 Td (markets, ) Tj ET Q q 0 0 0 rg BT 78.44 547.70 Td (including, ) Tj ET Q q 0 0 0 rg BT 112.28 547.70 Td (but ) Tj ET Q q 0 0 0 rg BT 124.11 547.70 Td (not ) Tj ET Q q 0 0 0 rg BT 135.95 547.70 Td (limited ) Tj ET Q q 0 0 0 rg BT 160.23 547.70 Td (to, ) Tj ET Q q 0 0 0 rg BT 170.07 547.70 Td (social ) Tj ET Q q 0 0 0 rg BT 190.35 547.70 Td (and ) Tj ET Q q 0 0 0 rg BT 203.52 547.70 Td (political ) Tj ET Q q 0 0 0 rg BT 231.35 547.70 Td (instability) Tj ET Q q 0 0 0 rg BT 262.83 547.70 Td (, ) Tj ET Q q 0 0 0 rg BT 266.44 547.70 Td (inconsistent ) Tj ET Q q 0 0 0 rg BT 306.28 547.70 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 340.77 547.70 Td (or ) Tj ET Q q 0 0 0 rg BT 349.05 547.70 Td (judicial ) Tj ET Q q 0 0 0 rg BT 374.66 547.70 Td (practice, ) Tj ET Q q 0 0 0 rg BT 403.59 547.70 Td (and ) Tj ET Q q 0 0 0 rg BT 416.75 547.70 Td (increased ) Tj ET Q q 0 0 0 rg BT 448.57 547.70 Td (taxes ) Tj ET Q q 0 0 0 rg BT 466.63 547.70 Td (and ) Tj ET Q q 0 0 0 rg BT 479.79 547.70 Td (other ) Tj ET Q q 0 0 0 rg BT 497.85 547.70 Td (costs. ) Tj ET Q q 0 0 0 rg BT 517.35 547.70 Td (The ) Tj ET Q q 0 0 0 rg BT 531.40 547.70 Td (economic ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 538.10 Td (and ) Tj ET Q q 0 0 0 rg BT 62.93 538.10 Td (political ) Tj ET Q q 0 0 0 rg BT 91.03 538.10 Td (systems, ) Tj ET Q q 0 0 0 rg BT 120.25 538.10 Td (legal ) Tj ET Q q 0 0 0 rg BT 137.68 538.10 Td (and ) Tj ET Q q 0 0 0 rg BT 151.11 538.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 162.76 538.10 Td (regimes, ) Tj ET Q q 0 0 0 rg BT 191.97 538.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 226.73 538.10 Td (practices, ) Tj ET Q q 0 0 0 rg BT 259.03 538.10 Td (standards ) Tj ET Q q 0 0 0 rg BT 291.13 538.10 Td (of ) Tj ET Q q 0 0 0 rg BT 299.68 538.10 Td (corporate ) Tj ET Q q 0 0 0 rg BT 331.76 538.10 Td (governance ) Tj ET Q q 0 0 0 rg BT 370.51 538.10 Td (and ) Tj ET Q q 0 0 0 rg BT 383.94 538.10 Td (business ) Tj ET Q q 0 0 0 rg BT 412.94 538.10 Td (practices ) Tj ET Q q 0 0 0 rg BT 443.25 538.10 Td (of ) Tj ET Q q 0 0 0 rg BT 451.79 538.10 Td (countries ) Tj ET Q q 0 0 0 rg BT 483.00 538.10 Td (in ) Tj ET Q q 0 0 0 rg BT 491.10 538.10 Td (this ) Tj ET Q q 0 0 0 rg BT 504.54 538.10 Td (region ) Tj ET Q q 0 0 0 rg BT 526.86 538.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 556.29 538.10 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 528.50 Td (develop. ) Tj ET Q q 0 0 0 rg BT 78.57 528.50 Td (Policies ) Tj ET Q q 0 0 0 rg BT 105.64 528.50 Td (and ) Tj ET Q q 0 0 0 rg BT 118.94 528.50 Td (practices ) Tj ET Q q 0 0 0 rg BT 149.11 528.50 Td (may ) Tj ET Q q 0 0 0 rg BT 164.63 528.50 Td (be ) Tj ET Q q 0 0 0 rg BT 173.92 528.50 Td (subject ) Tj ET Q q 0 0 0 rg BT 198.33 528.50 Td (to ) Tj ET Q q 0 0 0 rg BT 206.29 528.50 Td (significant ) Tj ET Q q 0 0 0 rg BT 241.81 528.50 Td (adjustments, ) Tj ET Q q 0 0 0 rg BT 283.77 528.50 Td (including ) Tj ET Q q 0 0 0 rg BT 315.73 528.50 Td (following ) Tj ET Q q 0 0 0 rg BT 348.59 528.50 Td (changes ) Tj ET Q q 0 0 0 rg BT 376.10 528.50 Td (in ) Tj ET Q q 0 0 0 rg BT 384.06 528.50 Td (political ) Tj ET Q q 0 0 0 rg BT 412.02 528.50 Td (leadership. ) Tj ET Q q 0 0 0 rg BT 448.51 528.50 Td (This ) Tj ET Q q 0 0 0 rg BT 464.48 528.50 Td (may ) Tj ET Q q 0 0 0 rg BT 480.00 528.50 Td (result ) Tj ET Q q 0 0 0 rg BT 499.52 528.50 Td (in ) Tj ET Q q 0 0 0 rg BT 507.48 528.50 Td (social ) Tj ET Q q 0 0 0 rg BT 527.89 528.50 Td (or ) Tj ET Q q 0 0 0 rg BT 536.30 528.50 Td (political ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 518.90 Td (instability ) Tj ET Q q 0 0 0 rg BT 83.55 518.90 Td (or ) Tj ET Q q 0 0 0 rg BT 92.26 518.90 Td (disruptions ) Tj ET Q q 0 0 0 rg BT 129.87 518.90 Td (and ) Tj ET Q q 0 0 0 rg BT 143.47 518.90 Td (the ) Tj ET Q q 0 0 0 rg BT 155.30 518.90 Td (potential ) Tj ET Q q 0 0 0 rg BT 185.34 518.90 Td (for ) Tj ET Q q 0 0 0 rg BT 196.72 518.90 Td (political ) Tj ET Q q 0 0 0 rg BT 224.98 518.90 Td (influence ) Tj ET Q q 0 0 0 rg BT 256.79 518.90 Td (on ) Tj ET Q q 0 0 0 rg BT 266.84 518.90 Td (the ) Tj ET Q q 0 0 0 rg BT 278.67 518.90 Td (media ) Tj ET Q q 0 0 0 rg BT 300.26 518.90 Td (as ) Tj ET Q q 0 0 0 rg BT 308.98 518.90 Td (well ) Tj ET Q q 0 0 0 rg BT 324.80 518.90 Td (as ) Tj ET Q q 0 0 0 rg BT 333.51 518.90 Td (inconsistent ) Tj ET Q q 0 0 0 rg BT 373.78 518.90 Td (application ) Tj ET Q q 0 0 0 rg BT 411.37 518.90 Td (of ) Tj ET Q q 0 0 0 rg BT 420.09 518.90 Td (tax ) Tj ET Q q 0 0 0 rg BT 431.91 518.90 Td (and ) Tj ET Q q 0 0 0 rg BT 445.51 518.90 Td (legal ) Tj ET Q q 0 0 0 rg BT 463.11 518.90 Td (regulations, ) Tj ET Q q 0 0 0 rg BT 502.71 518.90 Td (arbitrary ) Tj ET Q q 0 0 0 rg BT 532.29 518.90 Td (treatment ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 509.30 Td (before ) Tj ET Q q 0 0 0 rg BT 71.79 509.30 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 106.52 509.30 Td (or ) Tj ET Q q 0 0 0 rg BT 115.05 509.30 Td (judicial ) Tj ET Q q 0 0 0 rg BT 140.90 509.30 Td (authorities ) Tj ET Q q 0 0 0 rg BT 176.53 509.30 Td (and ) Tj ET Q q 0 0 0 rg BT 189.94 509.30 Td (other ) Tj ET Q q 0 0 0 rg BT 208.23 509.30 Td (general ) Tj ET Q q 0 0 0 rg BT 233.63 509.30 Td (business ) Tj ET Q q 0 0 0 rg BT 262.61 509.30 Td (risks. ) Tj ET Q q 0 0 0 rg BT 281.17 509.30 Td (As ) Tj ET Q q 0 0 0 rg BT 291.92 509.30 Td (a ) Tj ET Q q 0 0 0 rg BT 297.33 509.30 Td (result, ) Tj ET Q q 0 0 0 rg BT 318.96 509.30 Td (there ) Tj ET Q q 0 0 0 rg BT 336.81 509.30 Td (may ) Tj ET Q q 0 0 0 rg BT 352.44 509.30 Td (be ) Tj ET Q q 0 0 0 rg BT 361.85 509.30 Td (legal ) Tj ET Q q 0 0 0 rg BT 379.26 509.30 Td (and ) Tj ET Q q 0 0 0 rg BT 392.67 509.30 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 427.40 509.30 Td (changes ) Tj ET Q q 0 0 0 rg BT 455.03 509.30 Td (or ) Tj ET Q q 0 0 0 rg BT 463.55 509.30 Td (changes ) Tj ET Q q 0 0 0 rg BT 491.18 509.30 Td (in ) Tj ET Q q 0 0 0 rg BT 499.26 509.30 Td (the ) Tj ET Q q 0 0 0 rg BT 510.89 509.30 Td (interpretation ) Tj ET Q q 0 0 0 rg BT 555.84 509.30 Td (or ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 499.70 Td (application ) Tj ET Q q 0 0 0 rg BT 86.98 499.70 Td (of ) Tj ET Q q 0 0 0 rg BT 95.58 499.70 Td (existing ) Tj ET Q q 0 0 0 rg BT 122.85 499.70 Td (laws ) Tj ET Q q 0 0 0 rg BT 139.46 499.70 Td (or ) Tj ET Q q 0 0 0 rg BT 148.06 499.70 Td (regulations, ) Tj ET Q q 0 0 0 rg BT 187.54 499.70 Td (that ) Tj ET Q q 0 0 0 rg BT 201.48 499.70 Td (require ) Tj ET Q q 0 0 0 rg BT 226.07 499.70 Td (us ) Tj ET Q q 0 0 0 rg BT 235.12 499.70 Td (to ) Tj ET Q q 0 0 0 rg BT 243.28 499.70 Td (incur ) Tj ET Q q 0 0 0 rg BT 261.66 499.70 Td (substantial ) Tj ET Q q 0 0 0 rg BT 297.82 499.70 Td (costs, ) Tj ET Q q 0 0 0 rg BT 317.75 499.70 Td (cause ) Tj ET Q q 0 0 0 rg BT 337.46 499.70 Td (us ) Tj ET Q q 0 0 0 rg BT 346.51 499.70 Td (to ) Tj ET Q q 0 0 0 rg BT 354.67 499.70 Td (change ) Tj ET Q q 0 0 0 rg BT 379.26 499.70 Td (our ) Tj ET Q q 0 0 0 rg BT 391.87 499.70 Td (business ) Tj ET Q q 0 0 0 rg BT 420.92 499.70 Td (practices, ) Tj ET Q q 0 0 0 rg BT 453.28 499.70 Td (or ) Tj ET Q q 0 0 0 rg BT 461.88 499.70 Td (expose ) Tj ET Q q 0 0 0 rg BT 486.04 499.70 Td (us ) Tj ET Q q 0 0 0 rg BT 495.09 499.70 Td (to ) Tj ET Q q 0 0 0 rg BT 503.25 499.70 Td (unanticipated ) Tj ET Q q 0 0 0 rg BT 548.28 499.70 Td (civil ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 490.10 Td (or ) Tj ET Q q 0 0 0 rg BT 58.47 490.10 Td (criminal ) Tj ET Q q 0 0 0 rg BT 87.44 490.10 Td (liability) Tj ET Q q 0 0 0 rg BT 111.81 490.10 Td (, ) Tj ET Q q 0 0 0 rg BT 116.12 490.10 Td (including ) Tj ET Q q 0 0 0 rg BT 148.65 490.10 Td (fines ) Tj ET Q q 0 0 0 rg BT 166.51 490.10 Td (and ) Tj ET Q q 0 0 0 rg BT 180.37 490.10 Td (other ) Tj ET Q q 0 0 0 rg BT 199.12 490.10 Td (penalties ) Tj ET Q q 0 0 0 rg BT 229.86 490.10 Td (that ) Tj ET Q q 0 0 0 rg BT 244.17 490.10 Td (may ) Tj ET Q q 0 0 0 rg BT 260.25 490.10 Td (be ) Tj ET Q q 0 0 0 rg BT 270.12 490.10 Td (substantial, ) Tj ET Q q 0 0 0 rg BT 308.64 490.10 Td (which ) Tj ET Q q 0 0 0 rg BT 330.51 490.10 Td (would ) Tj ET Q q 0 0 0 rg BT 352.82 490.10 Td (have ) Tj ET Q q 0 0 0 rg BT 370.23 490.10 Td (a ) Tj ET Q q 0 0 0 rg BT 376.09 490.10 Td (material ) Tj ET Q q 0 0 0 rg BT 404.61 490.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 431.35 490.10 Td (ef) Tj ET Q q 0 0 0 rg BT 437.42 490.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 451.72 490.10 Td (on ) Tj ET Q q 0 0 0 rg BT 462.03 490.10 Td (our ) Tj ET Q q 0 0 0 rg BT 475.00 490.10 Td (business ) Tj ET Q q 0 0 0 rg BT 504.43 490.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 534.72 490.10 Td (position, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 480.50 Td (results ) Tj ET Q q 0 0 0 rg BT 72.39 480.50 Td (of ) Tj ET Q q 0 0 0 rg BT 81.05 480.50 Td (operations ) Tj ET Q q 0 0 0 rg BT 116.38 480.50 Td (and ) Tj ET Q q 0 0 0 rg BT 129.93 480.50 Td (cash ) Tj ET Q q 0 0 0 rg BT 146.14 480.50 Td (flows.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 464.90 Td (Other ) Tj ET Q q 0 0 0 rg BT 69.94 464.90 Td (potential ) Tj ET Q q 0 0 0 rg BT 100.15 464.90 Td (risks ) Tj ET Q q 0 0 0 rg BT 117.48 464.90 Td (inherent ) Tj ET Q q 0 0 0 rg BT 145.91 464.90 Td (in ) Tj ET Q q 0 0 0 rg BT 154.36 464.90 Td (markets ) Tj ET Q q 0 0 0 rg BT 181.90 464.90 Td (with ) Tj ET Q q 0 0 0 rg BT 198.35 464.90 Td (evolving ) Tj ET Q q 0 0 0 rg BT 228.56 464.90 Td (economic ) Tj ET Q q 0 0 0 rg BT 261.88 464.90 Td (and ) Tj ET Q q 0 0 0 rg BT 275.65 464.90 Td (political ) Tj ET Q q 0 0 0 rg BT 304.09 464.90 Td (environments ) Tj ET Q q 0 0 0 rg BT 349.86 464.90 Td (include ) Tj ET Q q 0 0 0 rg BT 375.62 464.90 Td (exchange ) Tj ET Q q 0 0 0 rg BT 408.05 464.90 Td (controls, ) Tj ET Q q 0 0 0 rg BT 438.04 464.90 Td (higher ) Tj ET Q q 0 0 0 rg BT 460.70 464.90 Td (taxes, ) Tj ET Q q 0 0 0 rg BT 481.36 464.90 Td (tarif) Tj ET Q q 0 0 0 rg BT 494.54 464.90 Td (fs ) Tj ET Q q 0 0 0 rg BT 502.54 464.90 Td (and ) Tj ET Q q 0 0 0 rg BT 516.31 464.90 Td (other ) Tj ET Q q 0 0 0 rg BT 534.96 464.90 Td (levies ) Tj ET Q q 0 0 0 rg BT 555.85 464.90 Td (as ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 455.30 Td (well ) Tj ET Q q 0 0 0 rg BT 65.16 455.30 Td (as ) Tj ET Q q 0 0 0 rg BT 73.71 455.30 Td (longer ) Tj ET Q q 0 0 0 rg BT 96.04 455.30 Td (payment ) Tj ET Q q 0 0 0 rg BT 125.48 455.30 Td (cycles. ) Tj ET Q q 0 0 0 rg BT 149.22 455.30 Td (The ) Tj ET Q q 0 0 0 rg BT 163.54 455.30 Td (relative ) Tj ET Q q 0 0 0 rg BT 189.42 455.30 Td (level ) Tj ET Q q 0 0 0 rg BT 206.85 455.30 Td (of ) Tj ET Q q 0 0 0 rg BT 215.40 455.30 Td (development ) Tj ET Q q 0 0 0 rg BT 258.61 455.30 Td (of ) Tj ET Q q 0 0 0 rg BT 267.17 455.30 Td (our ) Tj ET Q q 0 0 0 rg BT 279.72 455.30 Td (markets ) Tj ET Q q 0 0 0 rg BT 306.93 455.30 Td (and ) Tj ET Q q 0 0 0 rg BT 320.37 455.30 Td (the ) Tj ET Q q 0 0 0 rg BT 332.03 455.30 Td (influence ) Tj ET Q q 0 0 0 rg BT 363.68 455.30 Td (of ) Tj ET Q q 0 0 0 rg BT 372.24 455.30 Td (local ) Tj ET Q q 0 0 0 rg BT 389.67 455.30 Td (politics ) Tj ET Q q 0 0 0 rg BT 415.12 455.30 Td (also ) Tj ET Q q 0 0 0 rg BT 429.89 455.30 Td (present ) Tj ET Q q 0 0 0 rg BT 454.88 455.30 Td (a ) Tj ET Q q 0 0 0 rg BT 460.32 455.30 Td (potential ) Tj ET Q q 0 0 0 rg BT 490.20 455.30 Td (for ) Tj ET Q q 0 0 0 rg BT 501.42 455.30 Td (biased ) Tj ET Q q 0 0 0 rg BT 523.74 455.30 Td (treatment ) Tj ET Q q 0 0 0 rg BT 555.84 455.30 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 445.70 Td (us ) Tj ET Q q 0 0 0 rg BT 58.90 445.70 Td (before ) Tj ET Q q 0 0 0 rg BT 81.61 445.70 Td (regulators ) Tj ET Q q 0 0 0 rg BT 115.89 445.70 Td (or ) Tj ET Q q 0 0 0 rg BT 124.84 445.70 Td (courts ) Tj ET Q q 0 0 0 rg BT 146.67 445.70 Td (in ) Tj ET Q q 0 0 0 rg BT 155.18 445.70 Td (the ) Tj ET Q q 0 0 0 rg BT 167.24 445.70 Td (event ) Tj ET Q q 0 0 0 rg BT 186.85 445.70 Td (of ) Tj ET Q q 0 0 0 rg BT 195.80 445.70 Td (disputes ) Tj ET Q q 0 0 0 rg BT 224.30 445.70 Td (involving ) Tj ET Q q 0 0 0 rg BT 257.26 445.70 Td (our ) Tj ET Q q 0 0 0 rg BT 270.21 445.70 Td (investments. ) Tj ET Q q 0 0 0 rg BT 312.71 445.70 Td (If ) Tj ET Q q 0 0 0 rg BT 320.32 445.70 Td (such ) Tj ET Q q 0 0 0 rg BT 337.27 445.70 Td (a ) Tj ET Q q 0 0 0 rg BT 343.11 445.70 Td (dispute ) Tj ET Q q 0 0 0 rg BT 368.50 445.70 Td (occurs, ) Tj ET Q q 0 0 0 rg BT 393.67 445.70 Td (those ) Tj ET Q q 0 0 0 rg BT 412.84 445.70 Td (regulators ) Tj ET Q q 0 0 0 rg BT 447.11 445.70 Td (or ) Tj ET Q q 0 0 0 rg BT 456.06 445.70 Td (courts ) Tj ET Q q 0 0 0 rg BT 477.90 445.70 Td (might ) Tj ET Q q 0 0 0 rg BT 498.85 445.70 Td (favor ) Tj ET Q q 0 0 0 rg BT 518.02 445.70 Td (local ) Tj ET Q q 0 0 0 rg BT 535.85 445.70 Td (interests ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 436.10 Td (over ) Tj ET Q q 0 0 0 rg BT 65.74 436.10 Td (our ) Tj ET Q q 0 0 0 rg BT 78.43 436.10 Td (interests. ) Tj ET Q q 0 0 0 rg BT 109.11 436.10 Td (Ultimately) Tj ET Q q 0 0 0 rg BT 142.81 436.10 Td (, ) Tj ET Q q 0 0 0 rg BT 146.83 436.10 Td (this ) Tj ET Q q 0 0 0 rg BT 160.42 436.10 Td (could ) Tj ET Q q 0 0 0 rg BT 180.21 436.10 Td (lead ) Tj ET Q q 0 0 0 rg BT 195.56 436.10 Td (to ) Tj ET Q q 0 0 0 rg BT 203.81 436.10 Td (the ) Tj ET Q q 0 0 0 rg BT 215.61 436.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 230.08 436.10 Td (of ) Tj ET Q q 0 0 0 rg BT 238.77 436.10 Td (one ) Tj ET Q q 0 0 0 rg BT 252.34 436.10 Td (or ) Tj ET Q q 0 0 0 rg BT 261.03 436.10 Td (more ) Tj ET Q q 0 0 0 rg BT 279.49 436.10 Td (of ) Tj ET Q q 0 0 0 rg BT 288.18 436.10 Td (our ) Tj ET Q q 0 0 0 rg BT 300.87 436.10 Td (business ) Tj ET Q q 0 0 0 rg BT 330.01 436.10 Td (operations. ) Tj ET Q q 0 0 0 rg BT 367.21 436.10 Td (The ) Tj ET Q q 0 0 0 rg BT 381.67 436.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 396.15 436.10 Td (of ) Tj ET Q q 0 0 0 rg BT 404.83 436.10 Td (a ) Tj ET Q q 0 0 0 rg BT 410.41 436.10 Td (material ) Tj ET Q q 0 0 0 rg BT 438.64 436.10 Td (business ) Tj ET Q q 0 0 0 rg BT 467.78 436.10 Td (would ) Tj ET Q q 0 0 0 rg BT 489.80 436.10 Td (have ) Tj ET Q q 0 0 0 rg BT 506.93 436.10 Td (a ) Tj ET Q q 0 0 0 rg BT 512.50 436.10 Td (material ) Tj ET Q q 0 0 0 rg BT 540.74 436.10 Td (impact ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 426.50 Td (on ) Tj ET Q q 0 0 0 rg BT 59.50 426.50 Td (our ) Tj ET Q q 0 0 0 rg BT 72.16 426.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 102.15 426.50 Td (position, ) Tj ET Q q 0 0 0 rg BT 131.93 426.50 Td (results ) Tj ET Q q 0 0 0 rg BT 154.82 426.50 Td (of ) Tj ET Q q 0 0 0 rg BT 163.48 426.50 Td (operations ) Tj ET Q q 0 0 0 rg BT 198.80 426.50 Td (and ) Tj ET Q q 0 0 0 rg BT 212.36 426.50 Td (cash ) Tj ET Q q 0 0 0 rg BT 228.57 426.50 Td (flows.) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 410.90 Td (W) Tj ET Q q 0 0 0 rg BT 56.02 410.90 Td (e ) Tj ET Q q 0 0 0 rg BT 62.13 410.90 Td (may ) Tj ET Q q 0 0 0 rg BT 78.46 410.90 Td (not ) Tj ET Q q 0 0 0 rg BT 91.70 410.90 Td (be ) Tj ET Q q 0 0 0 rg BT 101.81 410.90 Td (aware ) Tj ET Q q 0 0 0 rg BT 124.37 410.90 Td (of ) Tj ET Q q 0 0 0 rg BT 133.59 410.90 Td (all ) Tj ET Q q 0 0 0 rg BT 144.60 410.90 Td (related ) Tj ET Q q 0 0 0 rg BT 169.82 410.90 Td (party ) Tj ET Q q 0 0 0 rg BT 189.27 410.90 Td (transactions, ) Tj ET Q q 0 0 0 rg BT 234.29 410.90 Td (which ) Tj ET Q q 0 0 0 rg BT 256.85 410.90 Td (may ) Tj ET Q q 0 0 0 rg BT 273.19 410.90 Td (involve ) Tj ET Q q 0 0 0 rg BT 299.29 410.90 Td (risks ) Tj ET Q q 0 0 0 rg BT 317.42 410.90 Td (of ) Tj ET Q q 0 0 0 rg BT 326.64 410.90 Td (conflicts ) Tj ET Q q 0 0 0 rg BT 357.20 410.90 Td (of ) Tj ET Q q 0 0 0 rg BT 366.42 410.90 Td (interest ) Tj ET Q q 0 0 0 rg BT 393.43 410.90 Td (that ) Tj ET Q q 0 0 0 rg BT 408.88 410.90 Td (result ) Tj ET Q q 0 0 0 rg BT 430.12 410.90 Td (in ) Tj ET Q q 0 0 0 rg BT 439.35 410.90 Td (transactions ) Tj ET Q q 0 0 0 rg BT 482.37 410.90 Td (being ) Tj ET Q q 0 0 0 rg BT 503.15 410.90 Td (concluded ) Tj ET Q q 0 0 0 rg BT 539.48 410.90 Td (on ) Tj ET Q q 0 0 0 rg BT 550.49 410.90 Td (less ) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 401.30 Td (favorable ) Tj ET Q q 0 0 0 rg BT 82.60 401.30 Td (terms ) Tj ET Q q 0 0 0 rg BT 102.82 401.30 Td (than ) Tj ET Q q 0 0 0 rg BT 119.95 401.30 Td (could ) Tj ET Q q 0 0 0 rg BT 140.17 401.30 Td (be ) Tj ET Q q 0 0 0 rg BT 149.72 401.30 Td (obtained ) Tj ET Q q 0 0 0 rg BT 180.16 401.30 Td (in ) Tj ET Q q 0 0 0 rg BT 188.84 401.30 Td (arm) Tj ET Q q 0 0 0 rg BT 204.24 401.30 Td (s-length ) Tj ET Q q 0 0 0 rg BT 232.91 401.30 Td (transactions.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 385.70 Td (In ) Tj ET Q q 0 0 0 rg BT 57.78 385.70 Td (our ) Tj ET Q q 0 0 0 rg BT 70.06 385.70 Td (markets, ) Tj ET Q q 0 0 0 rg BT 99.00 385.70 Td (the ) Tj ET Q q 0 0 0 rg BT 110.39 385.70 Td (of) Tj ET Q q 0 0 0 rg BT 116.91 385.70 Td (ficers, ) Tj ET Q q 0 0 0 rg BT 138.29 385.70 Td (general ) Tj ET Q q 0 0 0 rg BT 163.44 385.70 Td (directors, ) Tj ET Q q 0 0 0 rg BT 195.04 385.70 Td (other ) Tj ET Q q 0 0 0 rg BT 213.10 385.70 Td (members ) Tj ET Q q 0 0 0 rg BT 244.04 385.70 Td (of ) Tj ET Q q 0 0 0 rg BT 252.32 385.70 Td (the ) Tj ET Q q 0 0 0 rg BT 263.71 385.70 Td (management ) Tj ET Q q 0 0 0 rg BT 306.19 385.70 Td (or ) Tj ET Q q 0 0 0 rg BT 314.47 385.70 Td (employees ) Tj ET Q q 0 0 0 rg BT 350.30 385.70 Td (of ) Tj ET Q q 0 0 0 rg BT 358.58 385.70 Td (our ) Tj ET Q q 0 0 0 rg BT 370.86 385.70 Td (operating ) Tj ET Q q 0 0 0 rg BT 402.68 385.70 Td (companies ) Tj ET Q q 0 0 0 rg BT 438.51 385.70 Td (have ) Tj ET Q q 0 0 0 rg BT 455.22 385.70 Td (other ) Tj ET Q q 0 0 0 rg BT 473.28 385.70 Td (business ) Tj ET Q q 0 0 0 rg BT 502.01 385.70 Td (interests, ) Tj ET Q q 0 0 0 rg BT 532.28 385.70 Td (including ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 376.10 Td (interests ) Tj ET Q q 0 0 0 rg BT 78.51 376.10 Td (in ) Tj ET Q q 0 0 0 rg BT 87.08 376.10 Td (television ) Tj ET Q q 0 0 0 rg BT 120.54 376.10 Td (and ) Tj ET Q q 0 0 0 rg BT 134.44 376.10 Td (other ) Tj ET Q q 0 0 0 rg BT 153.22 376.10 Td (media-related ) Tj ET Q q 0 0 0 rg BT 199.55 376.10 Td (companies. ) Tj ET Q q 0 0 0 rg BT 237.94 376.10 Td (W) Tj ET Q q 0 0 0 rg BT 244.85 376.10 Td (e ) Tj ET Q q 0 0 0 rg BT 250.75 376.10 Td (may ) Tj ET Q q 0 0 0 rg BT 266.87 376.10 Td (not ) Tj ET Q q 0 0 0 rg BT 279.44 376.10 Td (be ) Tj ET Q q 0 0 0 rg BT 289.34 376.10 Td (aware ) Tj ET Q q 0 0 0 rg BT 310.79 376.10 Td (of ) Tj ET Q q 0 0 0 rg BT 319.80 376.10 Td (all ) Tj ET Q q 0 0 0 rg BT 330.15 376.10 Td (business ) Tj ET Q q 0 0 0 rg BT 359.61 376.10 Td (interests ) Tj ET Q q 0 0 0 rg BT 388.62 376.10 Td (or ) Tj ET Q q 0 0 0 rg BT 397.63 376.10 Td (relationships ) Tj ET Q q 0 0 0 rg BT 440.87 376.10 Td (that ) Tj ET Q q 0 0 0 rg BT 455.21 376.10 Td (exist ) Tj ET Q q 0 0 0 rg BT 472.67 376.10 Td (with ) Tj ET Q q 0 0 0 rg BT 489.24 376.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 514.24 376.10 Td (to ) Tj ET Q q 0 0 0 rg BT 522.82 376.10 Td (entities ) Tj ET Q q 0 0 0 rg BT 548.27 376.10 Td (with ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 366.50 Td (which ) Tj ET Q q 0 0 0 rg BT 71.80 366.50 Td (our ) Tj ET Q q 0 0 0 rg BT 85.21 366.50 Td (operating ) Tj ET Q q 0 0 0 rg BT 118.16 366.50 Td (companies ) Tj ET Q q 0 0 0 rg BT 155.12 366.50 Td (enter ) Tj ET Q q 0 0 0 rg BT 173.85 366.50 Td (into ) Tj ET Q q 0 0 0 rg BT 189.04 366.50 Td (transactions. ) Tj ET Q q 0 0 0 rg BT 231.80 366.50 Td (T) Tj ET Q q 0 0 0 rg BT 236.40 366.50 Td (ransactions ) Tj ET Q q 0 0 0 rg BT 275.14 366.50 Td (with ) Tj ET Q q 0 0 0 rg BT 292.11 366.50 Td (companies, ) Tj ET Q q 0 0 0 rg BT 331.06 366.50 Td (whether ) Tj ET Q q 0 0 0 rg BT 359.57 366.50 Td (or ) Tj ET Q q 0 0 0 rg BT 368.98 366.50 Td (not ) Tj ET Q q 0 0 0 rg BT 381.95 366.50 Td (we ) Tj ET Q q 0 0 0 rg BT 394.02 366.50 Td (are ) Tj ET Q q 0 0 0 rg BT 406.53 366.50 Td (aware ) Tj ET Q q 0 0 0 rg BT 428.37 366.50 Td (of ) Tj ET Q q 0 0 0 rg BT 437.78 366.50 Td (any ) Tj ET Q q 0 0 0 rg BT 452.08 366.50 Td (business ) Tj ET Q q 0 0 0 rg BT 481.94 366.50 Td (relationship ) Tj ET Q q 0 0 0 rg BT 522.45 366.50 Td (between ) Tj ET Q q 0 0 0 rg BT 551.85 366.50 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 356.90 Td (employees ) Tj ET Q q 0 0 0 rg BT 85.94 356.90 Td (and ) Tj ET Q q 0 0 0 rg BT 99.72 356.90 Td (third ) Tj ET Q q 0 0 0 rg BT 117.07 356.90 Td (parties, ) Tj ET Q q 0 0 0 rg BT 142.62 356.90 Td (may ) Tj ET Q q 0 0 0 rg BT 158.63 356.90 Td (present ) Tj ET Q q 0 0 0 rg BT 183.96 356.90 Td (conflicts ) Tj ET Q q 0 0 0 rg BT 213.74 356.90 Td (of ) Tj ET Q q 0 0 0 rg BT 222.63 356.90 Td (interest ) Tj ET Q q 0 0 0 rg BT 248.41 356.90 Td (which ) Tj ET Q q 0 0 0 rg BT 270.19 356.90 Td (may ) Tj ET Q q 0 0 0 rg BT 286.20 356.90 Td (in ) Tj ET Q q 0 0 0 rg BT 294.65 356.90 Td (turn ) Tj ET Q q 0 0 0 rg BT 309.77 356.90 Td (result ) Tj ET Q q 0 0 0 rg BT 329.78 356.90 Td (in ) Tj ET Q q 0 0 0 rg BT 338.23 356.90 Td (the ) Tj ET Q q 0 0 0 rg BT 350.23 356.90 Td (conclusion ) Tj ET Q q 0 0 0 rg BT 387.13 356.90 Td (of ) Tj ET Q q 0 0 0 rg BT 396.02 356.90 Td (transactions ) Tj ET Q q 0 0 0 rg BT 436.46 356.90 Td (on ) Tj ET Q q 0 0 0 rg BT 446.70 356.90 Td (terms ) Tj ET Q q 0 0 0 rg BT 466.70 356.90 Td (that ) Tj ET Q q 0 0 0 rg BT 480.93 356.90 Td (are ) Tj ET Q q 0 0 0 rg BT 492.92 356.90 Td (not ) Tj ET Q q 0 0 0 rg BT 505.38 356.90 Td (arm) Tj ET Q q 0 0 0 rg BT 520.04 356.90 Td (s-length. ) Tj ET Q q 0 0 0 rg BT 550.04 356.90 Td (It ) Tj ET Q q 0 0 0 rg BT 557.16 356.90 Td (is ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 347.30 Td (likely ) Tj ET Q q 0 0 0 rg BT 69.00 347.30 Td (that ) Tj ET Q q 0 0 0 rg BT 82.28 347.30 Td (we ) Tj ET Q q 0 0 0 rg BT 92.90 347.30 Td (and ) Tj ET Q q 0 0 0 rg BT 105.73 347.30 Td (our ) Tj ET Q q 0 0 0 rg BT 117.68 347.30 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 156.74 347.30 Td (will ) Tj ET Q q 0 0 0 rg BT 170.47 347.30 Td (continue ) Tj ET Q q 0 0 0 rg BT 199.30 347.30 Td (to ) Tj ET Q q 0 0 0 rg BT 206.80 347.30 Td (enter ) Tj ET Q q 0 0 0 rg BT 224.08 347.30 Td (into ) Tj ET Q q 0 0 0 rg BT 237.81 347.30 Td (related ) Tj ET Q q 0 0 0 rg BT 260.85 347.30 Td (party ) Tj ET Q q 0 0 0 rg BT 278.57 347.30 Td (transactions ) Tj ET Q q 0 0 0 rg BT 318.07 347.30 Td (in ) Tj ET Q q 0 0 0 rg BT 325.58 347.30 Td (the ) Tj ET Q q 0 0 0 rg BT 336.63 347.30 Td (future. ) Tj ET Q q 0 0 0 rg BT 359.02 347.30 Td (In ) Tj ET Q q 0 0 0 rg BT 366.97 347.30 Td (the ) Tj ET Q q 0 0 0 rg BT 378.02 347.30 Td (event ) Tj ET Q q 0 0 0 rg BT 396.63 347.30 Td (there ) Tj ET Q q 0 0 0 rg BT 413.91 347.30 Td (are ) Tj ET Q q 0 0 0 rg BT 424.96 347.30 Td (transactions ) Tj ET Q q 0 0 0 rg BT 464.45 347.30 Td (with ) Tj ET Q q 0 0 0 rg BT 479.96 347.30 Td (persons ) Tj ET Q q 0 0 0 rg BT 505.68 347.30 Td (who ) Tj ET Q q 0 0 0 rg BT 520.74 347.30 Td (subsequently ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 337.70 Td (are ) Tj ET Q q 0 0 0 rg BT 61.34 337.70 Td (determined ) Tj ET Q q 0 0 0 rg BT 99.41 337.70 Td (to ) Tj ET Q q 0 0 0 rg BT 107.71 337.70 Td (be ) Tj ET Q q 0 0 0 rg BT 117.34 337.70 Td (related ) Tj ET Q q 0 0 0 rg BT 141.18 337.70 Td (parties ) Tj ET Q q 0 0 0 rg BT 164.58 337.70 Td (or ) Tj ET Q q 0 0 0 rg BT 173.32 337.70 Td (af) Tj ET Q q 0 0 0 rg BT 179.39 337.70 Td (filiates, ) Tj ET Q q 0 0 0 rg BT 205.24 337.70 Td (we ) Tj ET Q q 0 0 0 rg BT 216.64 337.70 Td (may ) Tj ET Q q 0 0 0 rg BT 232.50 337.70 Td (be ) Tj ET Q q 0 0 0 rg BT 242.13 337.70 Td (required ) Tj ET Q q 0 0 0 rg BT 270.86 337.70 Td (to ) Tj ET Q q 0 0 0 rg BT 279.16 337.70 Td (make ) Tj ET Q q 0 0 0 rg BT 298.56 337.70 Td (additional ) Tj ET Q q 0 0 0 rg BT 332.63 337.70 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 367.14 337.70 Td (and, ) Tj ET Q q 0 0 0 rg BT 382.77 337.70 Td (if ) Tj ET Q q 0 0 0 rg BT 389.74 337.70 Td (such ) Tj ET Q q 0 0 0 rg BT 406.48 337.70 Td (contracts ) Tj ET Q q 0 0 0 rg BT 437.43 337.70 Td (are ) Tj ET Q q 0 0 0 rg BT 449.28 337.70 Td (material, ) Tj ET Q q 0 0 0 rg BT 479.56 337.70 Td (may ) Tj ET Q q 0 0 0 rg BT 495.41 337.70 Td (not ) Tj ET Q q 0 0 0 rg BT 507.71 337.70 Td (be ) Tj ET Q q 0 0 0 rg BT 517.34 337.70 Td (in ) Tj ET Q q 0 0 0 rg BT 525.64 337.70 Td (compliance ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 328.10 Td (with ) Tj ET Q q 0 0 0 rg BT 64.95 328.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 87.94 328.10 Td (covenants ) Tj ET Q q 0 0 0 rg BT 121.16 328.10 Td (under ) Tj ET Q q 0 0 0 rg BT 140.61 328.10 Td (the ) Tj ET Q q 0 0 0 rg BT 151.61 328.10 Td (indenture ) Tj ET Q q 0 0 0 rg BT 183.05 328.10 Td (governing ) Tj ET Q q 0 0 0 rg BT 216.72 328.10 Td (the ) Tj ET Q q 0 0 0 rg BT 227.72 328.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 244.95 328.10 Td (PIK ) Tj ET Q q 0 0 0 rg BT 259.07 328.10 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 280.96 328.10 Td (the ) Tj ET Q q 0 0 0 rg BT 291.96 328.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 309.11 328.10 Td (T) Tj ET Q q 0 0 0 rg BT 313.43 328.10 Td (erm ) Tj ET Q q 0 0 0 rg BT 327.10 328.10 Td (Loan ) Tj ET Q q 0 0 0 rg BT 344.50 328.10 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 383.26 328.10 Td (the ) Tj ET Q q 0 0 0 rg BT 394.27 328.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 411.50 328.10 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 446.06 328.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 467.28 328.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 492.96 328.10 Td (or ) Tj ET Q q 0 0 0 rg BT 500.85 328.10 Td (the ) Tj ET Q q 0 0 0 rg BT 511.85 328.10 Td (Reimbursement ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 318.50 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 88.65 318.50 Td (Any ) Tj ET Q q 0 0 0 rg BT 104.51 318.50 Td (related ) Tj ET Q q 0 0 0 rg BT 128.34 318.50 Td (party ) Tj ET Q q 0 0 0 rg BT 146.85 318.50 Td (transaction ) Tj ET Q q 0 0 0 rg BT 184.02 318.50 Td (that ) Tj ET Q q 0 0 0 rg BT 198.09 318.50 Td (is ) Tj ET Q q 0 0 0 rg BT 205.50 318.50 Td (entered ) Tj ET Q q 0 0 0 rg BT 231.11 318.50 Td (into ) Tj ET Q q 0 0 0 rg BT 245.63 318.50 Td (on ) Tj ET Q q 0 0 0 rg BT 255.70 318.50 Td (terms ) Tj ET Q q 0 0 0 rg BT 275.55 318.50 Td (that ) Tj ET Q q 0 0 0 rg BT 289.62 318.50 Td (are ) Tj ET Q q 0 0 0 rg BT 301.46 318.50 Td (not ) Tj ET Q q 0 0 0 rg BT 313.76 318.50 Td (arm) Tj ET Q q 0 0 0 rg BT 328.42 318.50 Td (s-length ) Tj ET Q q 0 0 0 rg BT 356.26 318.50 Td (may ) Tj ET Q q 0 0 0 rg BT 372.11 318.50 Td (result ) Tj ET Q q 0 0 0 rg BT 391.96 318.50 Td (in ) Tj ET Q q 0 0 0 rg BT 400.25 318.50 Td (a ) Tj ET Q q 0 0 0 rg BT 405.88 318.50 Td (negative ) Tj ET Q q 0 0 0 rg BT 435.05 318.50 Td (impact ) Tj ET Q q 0 0 0 rg BT 458.89 318.50 Td (on ) Tj ET Q q 0 0 0 rg BT 468.96 318.50 Td (our ) Tj ET Q q 0 0 0 rg BT 481.70 318.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 511.76 318.50 Td (position, ) Tj ET Q q 0 0 0 rg BT 541.61 318.50 Td (results ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 308.90 Td (of ) Tj ET Q q 0 0 0 rg BT 58.16 308.90 Td (operations ) Tj ET Q q 0 0 0 rg BT 93.49 308.90 Td (and ) Tj ET Q q 0 0 0 rg BT 107.04 308.90 Td (cash ) Tj ET Q q 0 0 0 rg BT 123.25 308.90 Td (flows.) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 288.95 Td (Our ) Tj ET Q q 0 0 0 rg BT 64.84 288.95 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 109.51 288.95 Td (licenses ) Tj ET Q q 0 0 0 rg BT 137.29 288.95 Td (may ) Tj ET Q q 0 0 0 rg BT 153.06 288.95 Td (not ) Tj ET Q q 0 0 0 rg BT 165.73 288.95 Td (be ) Tj ET Q q 0 0 0 rg BT 175.28 288.95 Td (renewed ) Tj ET Q q 0 0 0 rg BT 204.83 288.95 Td (and ) Tj ET Q q 0 0 0 rg BT 219.28 288.95 Td (may ) Tj ET Q q 0 0 0 rg BT 235.05 288.95 Td (be ) Tj ET Q q 0 0 0 rg BT 244.61 288.95 Td (subject ) Tj ET Q q 0 0 0 rg BT 269.71 288.95 Td (to ) Tj ET Q q 0 0 0 rg BT 277.94 288.95 Td (revocation.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 273.35 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 273.35 Td (e ) Tj ET Q q 0 0 0 rg BT 62.11 273.35 Td (require ) Tj ET Q q 0 0 0 rg BT 86.91 273.35 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 129.93 273.35 Td (and, ) Tj ET Q q 0 0 0 rg BT 145.63 273.35 Td (in ) Tj ET Q q 0 0 0 rg BT 153.99 273.35 Td (some ) Tj ET Q q 0 0 0 rg BT 173.03 273.35 Td (cases, ) Tj ET Q q 0 0 0 rg BT 194.05 273.35 Td (other ) Tj ET Q q 0 0 0 rg BT 212.64 273.35 Td (operating ) Tj ET Q q 0 0 0 rg BT 244.99 273.35 Td (licenses ) Tj ET Q q 0 0 0 rg BT 272.46 273.35 Td (as ) Tj ET Q q 0 0 0 rg BT 281.28 273.35 Td (well ) Tj ET Q q 0 0 0 rg BT 297.20 273.35 Td (as ) Tj ET Q q 0 0 0 rg BT 306.01 273.35 Td (other ) Tj ET Q q 0 0 0 rg BT 324.59 273.35 Td (authorizations ) Tj ET Q q 0 0 0 rg BT 372.06 273.35 Td (from ) Tj ET Q q 0 0 0 rg BT 389.75 273.35 Td (national ) Tj ET Q q 0 0 0 rg BT 417.67 273.35 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 452.69 273.35 Td (authorities ) Tj ET Q q 0 0 0 rg BT 488.61 273.35 Td (in ) Tj ET Q q 0 0 0 rg BT 496.98 273.35 Td (our ) Tj ET Q q 0 0 0 rg BT 509.79 273.35 Td (markets ) Tj ET Q q 0 0 0 rg BT 537.26 273.35 Td (in ) Tj ET Q q 0 0 0 rg BT 545.63 273.35 Td (order ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 263.75 Td (to ) Tj ET Q q 0 0 0 rg BT 57.77 263.75 Td (conduct ) Tj ET Q q 0 0 0 rg BT 85.15 263.75 Td (our ) Tj ET Q q 0 0 0 rg BT 97.86 263.75 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 140.79 263.75 Td (business. ) Tj ET Q q 0 0 0 rg BT 171.95 263.75 Td (Our ) Tj ET Q q 0 0 0 rg BT 186.44 263.75 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 229.36 263.75 Td (licenses ) Tj ET Q q 0 0 0 rg BT 256.74 263.75 Td (for ) Tj ET Q q 0 0 0 rg BT 268.12 263.75 Td (our ) Tj ET Q q 0 0 0 rg BT 280.83 263.75 Td (operations ) Tj ET Q q 0 0 0 rg BT 316.20 263.75 Td (in ) Tj ET Q q 0 0 0 rg BT 324.48 263.75 Td (Slovenia ) Tj ET Q q 0 0 0 rg BT 354.52 263.75 Td (and ) Tj ET Q q 0 0 0 rg BT 368.12 263.75 Td (the ) Tj ET Q q 0 0 0 rg BT 379.95 263.75 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 404.22 263.75 Td (Republic ) Tj ET Q q 0 0 0 rg BT 435.15 263.75 Td (are ) Tj ET Q q 0 0 0 rg BT 446.97 263.75 Td (valid ) Tj ET Q q 0 0 0 rg BT 465.01 263.75 Td (for ) Tj ET Q q 0 0 0 rg BT 476.39 263.75 Td (indefinite ) Tj ET Q q 0 0 0 rg BT 509.10 263.75 Td (time ) Tj ET Q q 0 0 0 rg BT 525.37 263.75 Td (periods ) Tj ET Q q 0 0 0 rg BT 550.97 263.75 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 254.15 Td (our ) Tj ET Q q 0 0 0 rg BT 62.20 254.15 Td (other ) Tj ET Q q 0 0 0 rg BT 80.68 254.15 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 123.59 254.15 Td (licenses ) Tj ET Q q 0 0 0 rg BT 150.95 254.15 Td (expire ) Tj ET Q q 0 0 0 rg BT 172.98 254.15 Td (at ) Tj ET Q q 0 0 0 rg BT 180.79 254.15 Td (various ) Tj ET Q q 0 0 0 rg BT 206.38 254.15 Td (times ) Tj ET Q q 0 0 0 rg BT 225.75 254.15 Td (through ) Tj ET Q q 0 0 0 rg BT 252.67 254.15 Td (2026. ) Tj ET Q q 0 0 0 rg BT 272.57 254.15 Td (While ) Tj ET Q q 0 0 0 rg BT 294.15 254.15 Td (we ) Tj ET Q q 0 0 0 rg BT 305.52 254.15 Td (expect ) Tj ET Q q 0 0 0 rg BT 328.43 254.15 Td (that ) Tj ET Q q 0 0 0 rg BT 342.46 254.15 Td (our ) Tj ET Q q 0 0 0 rg BT 355.17 254.15 Td (material ) Tj ET Q q 0 0 0 rg BT 383.41 254.15 Td (licenses ) Tj ET Q q 0 0 0 rg BT 410.77 254.15 Td (and ) Tj ET Q q 0 0 0 rg BT 424.36 254.15 Td (authorizations ) Tj ET Q q 0 0 0 rg BT 471.72 254.15 Td (will ) Tj ET Q q 0 0 0 rg BT 486.20 254.15 Td (be ) Tj ET Q q 0 0 0 rg BT 495.79 254.15 Td (renewed ) Tj ET Q q 0 0 0 rg BT 524.92 254.15 Td (or ) Tj ET Q q 0 0 0 rg BT 533.63 254.15 Td (extended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 244.55 Td (as ) Tj ET Q q 0 0 0 rg BT 58.26 244.55 Td (required ) Tj ET Q q 0 0 0 rg BT 87.01 244.55 Td (to ) Tj ET Q q 0 0 0 rg BT 95.33 244.55 Td (continue ) Tj ET Q q 0 0 0 rg BT 124.97 244.55 Td (to ) Tj ET Q q 0 0 0 rg BT 133.29 244.55 Td (operate ) Tj ET Q q 0 0 0 rg BT 158.93 244.55 Td (our ) Tj ET Q q 0 0 0 rg BT 171.69 244.55 Td (business, ) Tj ET Q q 0 0 0 rg BT 202.90 244.55 Td (including ) Tj ET Q q 0 0 0 rg BT 235.21 244.55 Td (the ) Tj ET Q q 0 0 0 rg BT 247.08 244.55 Td (granting ) Tj ET Q q 0 0 0 rg BT 275.84 244.55 Td (of ) Tj ET Q q 0 0 0 rg BT 284.60 244.55 Td (digital ) Tj ET Q q 0 0 0 rg BT 307.14 244.55 Td (licenses ) Tj ET Q q 0 0 0 rg BT 334.56 244.55 Td (to ) Tj ET Q q 0 0 0 rg BT 342.88 244.55 Td (Pro ) Tj ET Q q 0 0 0 rg BT 355.94 244.55 Td (TV) Tj ET Q q 0 0 0 rg BT 366.46 244.55 Td ( ) Tj ET Q q 0 0 0 rg BT 368.55 244.55 Td (in ) Tj ET Q q 0 0 0 rg BT 376.87 244.55 Td (Romania ) Tj ET Q q 0 0 0 rg BT 407.85 244.55 Td (as ) Tj ET Q q 0 0 0 rg BT 416.61 244.55 Td (that ) Tj ET Q q 0 0 0 rg BT 430.71 244.55 Td (country ) Tj ET Q q 0 0 0 rg BT 457.24 244.55 Td (transitions ) Tj ET Q q 0 0 0 rg BT 492.67 244.55 Td (from ) Tj ET Q q 0 0 0 rg BT 510.32 244.55 Td (analog ) Tj ET Q q 0 0 0 rg BT 533.74 244.55 Td (to ) Tj ET Q q 0 0 0 rg BT 542.06 244.55 Td (digital ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 234.95 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 92.25 234.95 Td (later ) Tj ET Q q 0 0 0 rg BT 108.33 234.95 Td (this ) Tj ET Q q 0 0 0 rg BT 121.75 234.95 Td (year) Tj ET Q q 0 0 0 rg BT 135.20 234.95 Td (, ) Tj ET Q q 0 0 0 rg BT 139.07 234.95 Td (we ) Tj ET Q q 0 0 0 rg BT 150.27 234.95 Td (cannot ) Tj ET Q q 0 0 0 rg BT 173.46 234.95 Td (guarantee ) Tj ET Q q 0 0 0 rg BT 206.42 234.95 Td (that ) Tj ET Q q 0 0 0 rg BT 220.29 234.95 Td (this ) Tj ET Q q 0 0 0 rg BT 233.72 234.95 Td (will ) Tj ET Q q 0 0 0 rg BT 248.03 234.95 Td (occur ) Tj ET Q q 0 0 0 rg BT 267.67 234.95 Td (or ) Tj ET Q q 0 0 0 rg BT 276.20 234.95 Td (that ) Tj ET Q q 0 0 0 rg BT 290.07 234.95 Td (they ) Tj ET Q q 0 0 0 rg BT 305.71 234.95 Td (will ) Tj ET Q q 0 0 0 rg BT 320.03 234.95 Td (not ) Tj ET Q q 0 0 0 rg BT 332.12 234.95 Td (be ) Tj ET Q q 0 0 0 rg BT 341.54 234.95 Td (subject ) Tj ET Q q 0 0 0 rg BT 366.07 234.95 Td (to ) Tj ET Q q 0 0 0 rg BT 374.17 234.95 Td (revocation, ) Tj ET Q q 0 0 0 rg BT 411.80 234.95 Td (particularly ) Tj ET Q q 0 0 0 rg BT 450.54 234.95 Td (in ) Tj ET Q q 0 0 0 rg BT 458.63 234.95 Td (markets ) Tj ET Q q 0 0 0 rg BT 485.83 234.95 Td (where ) Tj ET Q q 0 0 0 rg BT 507.24 234.95 Td (there ) Tj ET Q q 0 0 0 rg BT 525.10 234.95 Td (is ) Tj ET Q q 0 0 0 rg BT 532.30 234.95 Td (relatively ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 225.35 Td (greater ) Tj ET Q q 0 0 0 rg BT 74.24 225.35 Td (political ) Tj ET Q q 0 0 0 rg BT 102.98 225.35 Td (risk ) Tj ET Q q 0 0 0 rg BT 117.52 225.35 Td (as ) Tj ET Q q 0 0 0 rg BT 126.71 225.35 Td (a ) Tj ET Q q 0 0 0 rg BT 132.80 225.35 Td (result ) Tj ET Q q 0 0 0 rg BT 153.11 225.35 Td (of ) Tj ET Q q 0 0 0 rg BT 162.30 225.35 Td (less ) Tj ET Q q 0 0 0 rg BT 176.84 225.35 Td (developed ) Tj ET Q q 0 0 0 rg BT 212.24 225.35 Td (political ) Tj ET Q q 0 0 0 rg BT 240.99 225.35 Td (and ) Tj ET Q q 0 0 0 rg BT 255.08 225.35 Td (legal ) Tj ET Q q 0 0 0 rg BT 273.16 225.35 Td (institutions. ) Tj ET Q q 0 0 0 rg BT 313.07 225.35 Td (The ) Tj ET Q q 0 0 0 rg BT 328.04 225.35 Td (failure ) Tj ET Q q 0 0 0 rg BT 351.45 225.35 Td (to ) Tj ET Q q 0 0 0 rg BT 360.20 225.35 Td (comply ) Tj ET Q q 0 0 0 rg BT 386.73 225.35 Td (in ) Tj ET Q q 0 0 0 rg BT 395.49 225.35 Td (all ) Tj ET Q q 0 0 0 rg BT 406.02 225.35 Td (material ) Tj ET Q q 0 0 0 rg BT 434.76 225.35 Td (respects ) Tj ET Q q 0 0 0 rg BT 463.06 225.35 Td (with ) Tj ET Q q 0 0 0 rg BT 479.81 225.35 Td (the ) Tj ET Q q 0 0 0 rg BT 492.12 225.35 Td (terms ) Tj ET Q q 0 0 0 rg BT 512.43 225.35 Td (of ) Tj ET Q q 0 0 0 rg BT 521.62 225.35 Td (broadcasting ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 215.75 Td (licenses ) Tj ET Q q 0 0 0 rg BT 77.21 215.75 Td (or ) Tj ET Q q 0 0 0 rg BT 86.27 215.75 Td (other ) Tj ET Q q 0 0 0 rg BT 105.09 215.75 Td (authorizations ) Tj ET Q q 0 0 0 rg BT 152.80 215.75 Td (or ) Tj ET Q q 0 0 0 rg BT 161.85 215.75 Td (with ) Tj ET Q q 0 0 0 rg BT 178.46 215.75 Td (applications ) Tj ET Q q 0 0 0 rg BT 219.51 215.75 Td (filed ) Tj ET Q q 0 0 0 rg BT 236.56 215.75 Td (in ) Tj ET Q q 0 0 0 rg BT 245.17 215.75 Td (respect ) Tj ET Q q 0 0 0 rg BT 270.21 215.75 Td (thereto ) Tj ET Q q 0 0 0 rg BT 294.81 215.75 Td (may ) Tj ET Q q 0 0 0 rg BT 310.97 215.75 Td (result ) Tj ET Q q 0 0 0 rg BT 331.13 215.75 Td (in ) Tj ET Q q 0 0 0 rg BT 339.75 215.75 Td (such ) Tj ET Q q 0 0 0 rg BT 356.80 215.75 Td (licenses ) Tj ET Q q 0 0 0 rg BT 384.51 215.75 Td (or ) Tj ET Q q 0 0 0 rg BT 393.56 215.75 Td (other ) Tj ET Q q 0 0 0 rg BT 412.39 215.75 Td (authorizations ) Tj ET Q q 0 0 0 rg BT 460.10 215.75 Td (not ) Tj ET Q q 0 0 0 rg BT 472.71 215.75 Td (being ) Tj ET Q q 0 0 0 rg BT 492.87 215.75 Td (renewed ) Tj ET Q q 0 0 0 rg BT 522.36 215.75 Td (or ) Tj ET Q q 0 0 0 rg BT 531.41 215.75 Td (otherwise ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 206.15 Td (being ) Tj ET Q q 0 0 0 rg BT 69.40 206.15 Td (terminated. ) Tj ET Q q 0 0 0 rg BT 107.72 206.15 Td (Furthermore, ) Tj ET Q q 0 0 0 rg BT 151.83 206.15 Td (no ) Tj ET Q q 0 0 0 rg BT 161.96 206.15 Td (assurances ) Tj ET Q q 0 0 0 rg BT 198.29 206.15 Td (can ) Tj ET Q q 0 0 0 rg BT 211.51 206.15 Td (be ) Tj ET Q q 0 0 0 rg BT 221.18 206.15 Td (given ) Tj ET Q q 0 0 0 rg BT 241.08 206.15 Td (that ) Tj ET Q q 0 0 0 rg BT 255.20 206.15 Td (renewals ) Tj ET Q q 0 0 0 rg BT 285.75 206.15 Td (or ) Tj ET Q q 0 0 0 rg BT 294.53 206.15 Td (extensions ) Tj ET Q q 0 0 0 rg BT 330.43 206.15 Td (of ) Tj ET Q q 0 0 0 rg BT 339.22 206.15 Td (existing ) Tj ET Q q 0 0 0 rg BT 366.67 206.15 Td (licenses ) Tj ET Q q 0 0 0 rg BT 394.12 206.15 Td (will ) Tj ET Q q 0 0 0 rg BT 408.68 206.15 Td (be ) Tj ET Q q 0 0 0 rg BT 418.36 206.15 Td (issued ) Tj ET Q q 0 0 0 rg BT 440.48 206.15 Td (on ) Tj ET Q q 0 0 0 rg BT 450.60 206.15 Td (the ) Tj ET Q q 0 0 0 rg BT 462.50 206.15 Td (same ) Tj ET Q q 0 0 0 rg BT 481.06 206.15 Td (terms ) Tj ET Q q 0 0 0 rg BT 500.95 206.15 Td (as ) Tj ET Q q 0 0 0 rg BT 509.74 206.15 Td (existing ) Tj ET Q q 0 0 0 rg BT 537.19 206.15 Td (licenses ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 196.55 Td (or ) Tj ET Q q 0 0 0 rg BT 57.96 196.55 Td (that ) Tj ET Q q 0 0 0 rg BT 71.75 196.55 Td (further ) Tj ET Q q 0 0 0 rg BT 95.31 196.55 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 132.65 196.55 Td (or ) Tj ET Q q 0 0 0 rg BT 141.11 196.55 Td (conditions ) Tj ET Q q 0 0 0 rg BT 176.24 196.55 Td (will ) Tj ET Q q 0 0 0 rg BT 190.48 196.55 Td (not ) Tj ET Q q 0 0 0 rg BT 202.50 196.55 Td (be ) Tj ET Q q 0 0 0 rg BT 211.84 196.55 Td (imposed ) Tj ET Q q 0 0 0 rg BT 240.75 196.55 Td (in ) Tj ET Q q 0 0 0 rg BT 248.76 196.55 Td (the ) Tj ET Q q 0 0 0 rg BT 260.33 196.55 Td (future. ) Tj ET Q q 0 0 0 rg BT 282.83 196.55 Td (Any ) Tj ET Q q 0 0 0 rg BT 298.40 196.55 Td (non-renewal ) Tj ET Q q 0 0 0 rg BT 340.18 196.55 Td (or ) Tj ET Q q 0 0 0 rg BT 348.64 196.55 Td (termination ) Tj ET Q q 0 0 0 rg BT 387.31 196.55 Td (of ) Tj ET Q q 0 0 0 rg BT 395.77 196.55 Td (any ) Tj ET Q q 0 0 0 rg BT 409.12 196.55 Td (other ) Tj ET Q q 0 0 0 rg BT 427.35 196.55 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 470.02 196.55 Td (or ) Tj ET Q q 0 0 0 rg BT 478.48 196.55 Td (operating ) Tj ET Q q 0 0 0 rg BT 510.48 196.55 Td (licenses ) Tj ET Q q 0 0 0 rg BT 537.60 196.55 Td (or ) Tj ET Q q 0 0 0 rg BT 546.06 196.55 Td (other ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 186.95 Td (authorizations ) Tj ET Q q 0 0 0 rg BT 96.53 186.95 Td (or ) Tj ET Q q 0 0 0 rg BT 104.91 186.95 Td (material ) Tj ET Q q 0 0 0 rg BT 132.83 186.95 Td (modification ) Tj ET Q q 0 0 0 rg BT 175.42 186.95 Td (of ) Tj ET Q q 0 0 0 rg BT 183.80 186.95 Td (the ) Tj ET Q q 0 0 0 rg BT 195.29 186.95 Td (terms ) Tj ET Q q 0 0 0 rg BT 214.77 186.95 Td (of ) Tj ET Q q 0 0 0 rg BT 223.15 186.95 Td (any ) Tj ET Q q 0 0 0 rg BT 236.41 186.95 Td (renewed ) Tj ET Q q 0 0 0 rg BT 265.22 186.95 Td (licenses ) Tj ET Q q 0 0 0 rg BT 292.26 186.95 Td (may ) Tj ET Q q 0 0 0 rg BT 307.74 186.95 Td (have ) Tj ET Q q 0 0 0 rg BT 324.56 186.95 Td (a ) Tj ET Q q 0 0 0 rg BT 329.82 186.95 Td (material ) Tj ET Q q 0 0 0 rg BT 357.74 186.95 Td (adverse ) Tj ET Q q 0 0 0 rg BT 383.88 186.95 Td (ef) Tj ET Q q 0 0 0 rg BT 389.95 186.95 Td (fect ) Tj ET Q q 0 0 0 rg BT 403.65 186.95 Td (on ) Tj ET Q q 0 0 0 rg BT 413.37 186.95 Td (our ) Tj ET Q q 0 0 0 rg BT 425.74 186.95 Td (financial ) Tj ET Q q 0 0 0 rg BT 455.44 186.95 Td (position, ) Tj ET Q q 0 0 0 rg BT 484.94 186.95 Td (results ) Tj ET Q q 0 0 0 rg BT 507.54 186.95 Td (of ) Tj ET Q q 0 0 0 rg BT 515.91 186.95 Td (operations ) Tj ET Q q 0 0 0 rg BT 550.95 186.95 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 177.35 Td (cash ) Tj ET Q q 0 0 0 rg BT 65.71 177.35 Td (flows.) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 157.45 Td (Our ) Tj ET Q q 0 0 0 rg BT 64.84 157.45 Td (success ) Tj ET Q q 0 0 0 rg BT 91.28 157.45 Td (depends ) Tj ET Q q 0 0 0 rg BT 119.95 157.45 Td (on ) Tj ET Q q 0 0 0 rg BT 130.39 157.45 Td (attracting ) Tj ET Q q 0 0 0 rg BT 164.40 157.45 Td (and ) Tj ET Q q 0 0 0 rg BT 178.85 157.45 Td (retaining ) Tj ET Q q 0 0 0 rg BT 211.08 157.45 Td (key ) Tj ET Q q 0 0 0 rg BT 224.18 157.45 Td (personnel.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 141.85 Td (Our ) Tj ET Q q 0 0 0 rg BT 64.26 141.85 Td (success ) Tj ET Q q 0 0 0 rg BT 90.57 141.85 Td (depends ) Tj ET Q q 0 0 0 rg BT 119.11 141.85 Td (partly ) Tj ET Q q 0 0 0 rg BT 140.09 141.85 Td (upon ) Tj ET Q q 0 0 0 rg BT 158.41 141.85 Td (the ) Tj ET Q q 0 0 0 rg BT 170.50 141.85 Td (ef) Tj ET Q q 0 0 0 rg BT 176.57 141.85 Td (forts ) Tj ET Q q 0 0 0 rg BT 193.55 141.85 Td (and ) Tj ET Q q 0 0 0 rg BT 207.42 141.85 Td (abilities ) Tj ET Q q 0 0 0 rg BT 235.07 141.85 Td (of ) Tj ET Q q 0 0 0 rg BT 244.05 141.85 Td (our ) Tj ET Q q 0 0 0 rg BT 257.04 141.85 Td (key ) Tj ET Q q 0 0 0 rg BT 270.91 141.85 Td (personnel ) Tj ET Q q 0 0 0 rg BT 304.33 141.85 Td (and ) Tj ET Q q 0 0 0 rg BT 318.20 141.85 Td (our ) Tj ET Q q 0 0 0 rg BT 331.18 141.85 Td (ability ) Tj ET Q q 0 0 0 rg BT 353.94 141.85 Td (to ) Tj ET Q q 0 0 0 rg BT 362.48 141.85 Td (attract ) Tj ET Q q 0 0 0 rg BT 384.79 141.85 Td (and ) Tj ET Q q 0 0 0 rg BT 398.66 141.85 Td (retain ) Tj ET Q q 0 0 0 rg BT 419.19 141.85 Td (key ) Tj ET Q q 0 0 0 rg BT 433.06 141.85 Td (personnel. ) Tj ET Q q 0 0 0 rg BT 468.48 141.85 Td (Our ) Tj ET Q q 0 0 0 rg BT 483.24 141.85 Td (management ) Tj ET Q q 0 0 0 rg BT 526.43 141.85 Td (teams ) Tj ET Q q 0 0 0 rg BT 547.41 141.85 Td (have ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 132.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 85.54 132.25 Td (experience ) Tj ET Q q 0 0 0 rg BT 122.44 132.25 Td (in ) Tj ET Q q 0 0 0 rg BT 130.93 132.25 Td (the ) Tj ET Q q 0 0 0 rg BT 142.97 132.25 Td (media ) Tj ET Q q 0 0 0 rg BT 164.79 132.25 Td (industry ) Tj ET Q q 0 0 0 rg BT 193.28 132.25 Td (and ) Tj ET Q q 0 0 0 rg BT 207.09 132.25 Td (have ) Tj ET Q q 0 0 0 rg BT 224.46 132.25 Td (made ) Tj ET Q q 0 0 0 rg BT 244.05 132.25 Td (important ) Tj ET Q q 0 0 0 rg BT 277.42 132.25 Td (contributions ) Tj ET Q q 0 0 0 rg BT 321.91 132.25 Td (to ) Tj ET Q q 0 0 0 rg BT 330.40 132.25 Td (our ) Tj ET Q q 0 0 0 rg BT 343.33 132.25 Td (growth ) Tj ET Q q 0 0 0 rg BT 368.26 132.25 Td (and ) Tj ET Q q 0 0 0 rg BT 382.08 132.25 Td (success. ) Tj ET Q q 0 0 0 rg BT 409.84 132.25 Td (Although ) Tj ET Q q 0 0 0 rg BT 442.32 132.25 Td (we ) Tj ET Q q 0 0 0 rg BT 453.92 132.25 Td (have ) Tj ET Q q 0 0 0 rg BT 471.29 132.25 Td (been ) Tj ET Q q 0 0 0 rg BT 488.66 132.25 Td (successful ) Tj ET Q q 0 0 0 rg BT 523.80 132.25 Td (in ) Tj ET Q q 0 0 0 rg BT 532.29 132.25 Td (attracting ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 122.65 Td (and ) Tj ET Q q 0 0 0 rg BT 63.39 122.65 Td (retaining ) Tj ET Q q 0 0 0 rg BT 94.17 122.65 Td (such ) Tj ET Q q 0 0 0 rg BT 111.17 122.65 Td (people ) Tj ET Q q 0 0 0 rg BT 134.84 122.65 Td (in ) Tj ET Q q 0 0 0 rg BT 143.40 122.65 Td (the ) Tj ET Q q 0 0 0 rg BT 155.51 122.65 Td (past, ) Tj ET Q q 0 0 0 rg BT 172.74 122.65 Td (competition ) Tj ET Q q 0 0 0 rg BT 213.30 122.65 Td (for ) Tj ET Q q 0 0 0 rg BT 224.97 122.65 Td (highly ) Tj ET Q q 0 0 0 rg BT 247.75 122.65 Td (skilled ) Tj ET Q q 0 0 0 rg BT 271.42 122.65 Td (individuals ) Tj ET Q q 0 0 0 rg BT 309.32 122.65 Td (is ) Tj ET Q q 0 0 0 rg BT 317.00 122.65 Td (intense. ) Tj ET Q q 0 0 0 rg BT 343.83 122.65 Td (There ) Tj ET Q q 0 0 0 rg BT 364.82 122.65 Td (can ) Tj ET Q q 0 0 0 rg BT 378.26 122.65 Td (be ) Tj ET Q q 0 0 0 rg BT 388.16 122.65 Td (no ) Tj ET Q q 0 0 0 rg BT 398.50 122.65 Td (assurance ) Tj ET Q q 0 0 0 rg BT 431.93 122.65 Td (that ) Tj ET Q q 0 0 0 rg BT 446.27 122.65 Td (we ) Tj ET Q q 0 0 0 rg BT 457.94 122.65 Td (will ) Tj ET Q q 0 0 0 rg BT 472.72 122.65 Td (continue ) Tj ET Q q 0 0 0 rg BT 502.61 122.65 Td (to ) Tj ET Q q 0 0 0 rg BT 511.17 122.65 Td (be ) Tj ET Q q 0 0 0 rg BT 521.07 122.65 Td (successful ) Tj ET Q q 0 0 0 rg BT 556.29 122.65 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 113.05 Td (attracting ) Tj ET Q q 0 0 0 rg BT 81.76 113.05 Td (and ) Tj ET Q q 0 0 0 rg BT 95.37 113.05 Td (retaining ) Tj ET Q q 0 0 0 rg BT 125.86 113.05 Td (such ) Tj ET Q q 0 0 0 rg BT 142.58 113.05 Td (individuals ) Tj ET Q q 0 0 0 rg BT 180.19 113.05 Td (in ) Tj ET Q q 0 0 0 rg BT 188.47 113.05 Td (the ) Tj ET Q q 0 0 0 rg BT 200.30 113.05 Td (future. ) Tj ET Q q 0 0 0 rg BT 223.30 113.05 Td (The ) Tj ET Q q 0 0 0 rg BT 237.80 113.05 Td (loss ) Tj ET Q q 0 0 0 rg BT 252.30 113.05 Td (of ) Tj ET Q q 0 0 0 rg BT 261.02 113.05 Td (the ) Tj ET Q q 0 0 0 rg BT 272.85 113.05 Td (services ) Tj ET Q q 0 0 0 rg BT 300.67 113.05 Td (of ) Tj ET Q q 0 0 0 rg BT 309.39 113.05 Td (any ) Tj ET Q q 0 0 0 rg BT 323.00 113.05 Td (of ) Tj ET Q q 0 0 0 rg BT 331.72 113.05 Td (these ) Tj ET Q q 0 0 0 rg BT 350.21 113.05 Td (individuals ) Tj ET Q q 0 0 0 rg BT 387.82 113.05 Td (could ) Tj ET Q q 0 0 0 rg BT 407.65 113.05 Td (have ) Tj ET Q q 0 0 0 rg BT 424.81 113.05 Td (an ) Tj ET Q q 0 0 0 rg BT 434.42 113.05 Td (adverse ) Tj ET Q q 0 0 0 rg BT 460.90 113.05 Td (ef) Tj ET Q q 0 0 0 rg BT 466.97 113.05 Td (fect ) Tj ET Q q 0 0 0 rg BT 481.01 113.05 Td (on ) Tj ET Q q 0 0 0 rg BT 491.07 113.05 Td (our ) Tj ET Q q 0 0 0 rg BT 503.79 113.05 Td (businesses, ) Tj ET Q q 0 0 0 rg BT 541.62 113.05 Td (results ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 103.45 Td (of ) Tj ET Q q 0 0 0 rg BT 58.16 103.45 Td (operations ) Tj ET Q q 0 0 0 rg BT 93.49 103.45 Td (and ) Tj ET Q q 0 0 0 rg BT 107.04 103.45 Td (cash ) Tj ET Q q 0 0 0 rg BT 123.25 103.45 Td (flows.) Tj ET Q endstream endobj 33 0 obj <>] /Rotate 0 /Contents 34 0 R>> endobj 34 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (14) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 723.60 Td (Risks ) Tj ET Q q 0 0 0 rg BT 70.18 723.60 Td (Relating ) Tj ET Q q 0 0 0 rg BT 101.06 723.60 Td (to ) Tj ET Q q 0 0 0 rg BT 109.73 723.60 Td (Enfor) Tj ET Q q 0 0 0 rg BT 129.58 723.60 Td (cement ) Tj ET Q q 0 0 0 rg BT 156.01 723.60 Td (Rights) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 703.70 Td (W) Tj ET Q q 0 0 0 rg BT 56.02 703.70 Td (e ) Tj ET Q q 0 0 0 rg BT 61.57 703.70 Td (are ) Tj ET Q q 0 0 0 rg BT 74.23 703.70 Td (a ) Tj ET Q q 0 0 0 rg BT 80.23 703.70 Td (Bermuda ) Tj ET Q q 0 0 0 rg BT 112.91 703.70 Td (company ) Tj ET Q q 0 0 0 rg BT 144.68 703.70 Td (and ) Tj ET Q q 0 0 0 rg BT 159.13 703.70 Td (enforcement ) Tj ET Q q 0 0 0 rg BT 202.45 703.70 Td (of ) Tj ET Q q 0 0 0 rg BT 211.12 703.70 Td (civil ) Tj ET Q q 0 0 0 rg BT 226.89 703.70 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 259.11 703.70 Td (and ) Tj ET Q q 0 0 0 rg BT 273.56 703.70 Td (judgments ) Tj ET Q q 0 0 0 rg BT 309.79 703.70 Td (may ) Tj ET Q q 0 0 0 rg BT 325.56 703.70 Td (be ) Tj ET Q q 0 0 0 rg BT 335.11 703.70 Td (dif) Tj ET Q q 0 0 0 rg BT 343.86 703.70 Td (ficult.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 688.10 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 688.10 Td (e ) Tj ET Q q 0 0 0 rg BT 61.92 688.10 Td (are ) Tj ET Q q 0 0 0 rg BT 73.64 688.10 Td (a ) Tj ET Q q 0 0 0 rg BT 79.15 688.10 Td (Bermuda ) Tj ET Q q 0 0 0 rg BT 110.43 688.10 Td (company) Tj ET Q q 0 0 0 rg BT 139.23 688.10 Td (. ) Tj ET Q q 0 0 0 rg BT 143.19 688.10 Td (Substantially ) Tj ET Q q 0 0 0 rg BT 186.93 688.10 Td (all ) Tj ET Q q 0 0 0 rg BT 196.88 688.10 Td (of ) Tj ET Q q 0 0 0 rg BT 205.50 688.10 Td (our ) Tj ET Q q 0 0 0 rg BT 218.12 688.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 238.74 688.10 Td (and ) Tj ET Q q 0 0 0 rg BT 252.25 688.10 Td (all ) Tj ET Q q 0 0 0 rg BT 262.20 688.10 Td (of ) Tj ET Q q 0 0 0 rg BT 270.82 688.10 Td (our ) Tj ET Q q 0 0 0 rg BT 283.45 688.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 318.73 688.10 Td (are ) Tj ET Q q 0 0 0 rg BT 330.45 688.10 Td (located, ) Tj ET Q q 0 0 0 rg BT 357.50 688.10 Td (and ) Tj ET Q q 0 0 0 rg BT 371.01 688.10 Td (all ) Tj ET Q q 0 0 0 rg BT 380.96 688.10 Td (of ) Tj ET Q q 0 0 0 rg BT 389.59 688.10 Td (our ) Tj ET Q q 0 0 0 rg BT 402.21 688.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 432.59 688.10 Td (are ) Tj ET Q q 0 0 0 rg BT 444.32 688.10 Td (derived, ) Tj ET Q q 0 0 0 rg BT 472.26 688.10 Td (outside ) Tj ET Q q 0 0 0 rg BT 497.33 688.10 Td (the ) Tj ET Q q 0 0 0 rg BT 509.06 688.10 Td (United ) Tj ET Q q 0 0 0 rg BT 532.79 688.10 Td (States. ) Tj ET Q q 0 0 0 rg BT 555.86 688.10 Td (In ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 678.50 Td (addition, ) Tj ET Q q 0 0 0 rg BT 79.97 678.50 Td (several ) Tj ET Q q 0 0 0 rg BT 104.88 678.50 Td (of ) Tj ET Q q 0 0 0 rg BT 113.79 678.50 Td (our ) Tj ET Q q 0 0 0 rg BT 126.71 678.50 Td (directors ) Tj ET Q q 0 0 0 rg BT 156.95 678.50 Td (and ) Tj ET Q q 0 0 0 rg BT 170.76 678.50 Td (of) Tj ET Q q 0 0 0 rg BT 177.28 678.50 Td (ficers ) Tj ET Q q 0 0 0 rg BT 197.29 678.50 Td (are ) Tj ET Q q 0 0 0 rg BT 209.31 678.50 Td (non-residents ) Tj ET Q q 0 0 0 rg BT 254.67 678.50 Td (of ) Tj ET Q q 0 0 0 rg BT 263.58 678.50 Td (the ) Tj ET Q q 0 0 0 rg BT 275.61 678.50 Td (United ) Tj ET Q q 0 0 0 rg BT 299.64 678.50 Td (States, ) Tj ET Q q 0 0 0 rg BT 323.00 678.50 Td (and ) Tj ET Q q 0 0 0 rg BT 336.80 678.50 Td (all ) Tj ET Q q 0 0 0 rg BT 347.05 678.50 Td (or ) Tj ET Q q 0 0 0 rg BT 355.97 678.50 Td (a ) Tj ET Q q 0 0 0 rg BT 361.77 678.50 Td (substantial ) Tj ET Q q 0 0 0 rg BT 398.24 678.50 Td (portion ) Tj ET Q q 0 0 0 rg BT 423.61 678.50 Td (of ) Tj ET Q q 0 0 0 rg BT 432.52 678.50 Td (the ) Tj ET Q q 0 0 0 rg BT 444.55 678.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 465.47 678.50 Td (of ) Tj ET Q q 0 0 0 rg BT 474.38 678.50 Td (such ) Tj ET Q q 0 0 0 rg BT 491.30 678.50 Td (persons ) Tj ET Q q 0 0 0 rg BT 518.00 678.50 Td (are ) Tj ET Q q 0 0 0 rg BT 530.01 678.50 Td (or ) Tj ET Q q 0 0 0 rg BT 538.93 678.50 Td (may ) Tj ET Q q 0 0 0 rg BT 554.96 678.50 Td (be ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 668.90 Td (located ) Tj ET Q q 0 0 0 rg BT 74.28 668.90 Td (outside ) Tj ET Q q 0 0 0 rg BT 99.07 668.90 Td (the ) Tj ET Q q 0 0 0 rg BT 110.53 668.90 Td (United ) Tj ET Q q 0 0 0 rg BT 133.98 668.90 Td (States. ) Tj ET Q q 0 0 0 rg BT 156.40 668.90 Td (As ) Tj ET Q q 0 0 0 rg BT 166.98 668.90 Td (a ) Tj ET Q q 0 0 0 rg BT 172.21 668.90 Td (result, ) Tj ET Q q 0 0 0 rg BT 193.67 668.90 Td (investors ) Tj ET Q q 0 0 0 rg BT 224.24 668.90 Td (may ) Tj ET Q q 0 0 0 rg BT 239.69 668.90 Td (be ) Tj ET Q q 0 0 0 rg BT 248.93 668.90 Td (unable ) Tj ET Q q 0 0 0 rg BT 271.93 668.90 Td (to ) Tj ET Q q 0 0 0 rg BT 279.84 668.90 Td (ef) Tj ET Q q 0 0 0 rg BT 285.91 668.90 Td (fect ) Tj ET Q q 0 0 0 rg BT 299.58 668.90 Td (service ) Tj ET Q q 0 0 0 rg BT 323.91 668.90 Td (of ) Tj ET Q q 0 0 0 rg BT 332.26 668.90 Td (process ) Tj ET Q q 0 0 0 rg BT 357.94 668.90 Td (within ) Tj ET Q q 0 0 0 rg BT 380.06 668.90 Td (the ) Tj ET Q q 0 0 0 rg BT 391.52 668.90 Td (United ) Tj ET Q q 0 0 0 rg BT 414.98 668.90 Td (States ) Tj ET Q q 0 0 0 rg BT 435.77 668.90 Td (upon ) Tj ET Q q 0 0 0 rg BT 453.45 668.90 Td (such ) Tj ET Q q 0 0 0 rg BT 469.80 668.90 Td (persons, ) Tj ET Q q 0 0 0 rg BT 497.92 668.90 Td (or ) Tj ET Q q 0 0 0 rg BT 506.27 668.90 Td (to ) Tj ET Q q 0 0 0 rg BT 514.17 668.90 Td (enforce ) Tj ET Q q 0 0 0 rg BT 539.84 668.90 Td (against ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 659.30 Td (them ) Tj ET Q q 0 0 0 rg BT 68.08 659.30 Td (judgments ) Tj ET Q q 0 0 0 rg BT 104.00 659.30 Td (obtained ) Tj ET Q q 0 0 0 rg BT 134.13 659.30 Td (in ) Tj ET Q q 0 0 0 rg BT 142.94 659.30 Td (the ) Tj ET Q q 0 0 0 rg BT 155.30 659.30 Td (United ) Tj ET Q q 0 0 0 rg BT 179.66 659.30 Td (States ) Tj ET Q q 0 0 0 rg BT 201.36 659.30 Td (courts, ) Tj ET Q q 0 0 0 rg BT 225.49 659.30 Td (including ) Tj ET Q q 0 0 0 rg BT 258.30 659.30 Td (judgments ) Tj ET Q q 0 0 0 rg BT 294.21 659.30 Td (predicated ) Tj ET Q q 0 0 0 rg BT 330.11 659.30 Td (upon ) Tj ET Q q 0 0 0 rg BT 348.70 659.30 Td (the ) Tj ET Q q 0 0 0 rg BT 361.06 659.30 Td (civil ) Tj ET Q q 0 0 0 rg BT 377.86 659.30 Td (liability ) Tj ET Q q 0 0 0 rg BT 405.34 659.30 Td (provisions ) Tj ET Q q 0 0 0 rg BT 441.26 659.30 Td (of ) Tj ET Q q 0 0 0 rg BT 450.51 659.30 Td (the ) Tj ET Q q 0 0 0 rg BT 462.87 659.30 Td (United ) Tj ET Q q 0 0 0 rg BT 487.23 659.30 Td (States ) Tj ET Q q 0 0 0 rg BT 508.92 659.30 Td (federal ) Tj ET Q q 0 0 0 rg BT 533.71 659.30 Td (and ) Tj ET Q q 0 0 0 rg BT 547.85 659.30 Td (state ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 649.70 Td (securities ) Tj ET Q q 0 0 0 rg BT 82.08 649.70 Td (laws. ) Tj ET Q q 0 0 0 rg BT 100.95 649.70 Td (There ) Tj ET Q q 0 0 0 rg BT 121.98 649.70 Td (is ) Tj ET Q q 0 0 0 rg BT 129.68 649.70 Td (uncertainty ) Tj ET Q q 0 0 0 rg BT 168.04 649.70 Td (as ) Tj ET Q q 0 0 0 rg BT 177.08 649.70 Td (to ) Tj ET Q q 0 0 0 rg BT 185.67 649.70 Td (whether ) Tj ET Q q 0 0 0 rg BT 213.81 649.70 Td (the ) Tj ET Q q 0 0 0 rg BT 225.96 649.70 Td (courts ) Tj ET Q q 0 0 0 rg BT 247.88 649.70 Td (of ) Tj ET Q q 0 0 0 rg BT 256.92 649.70 Td (Bermuda ) Tj ET Q q 0 0 0 rg BT 288.62 649.70 Td (and ) Tj ET Q q 0 0 0 rg BT 302.54 649.70 Td (the ) Tj ET Q q 0 0 0 rg BT 314.69 649.70 Td (countries ) Tj ET Q q 0 0 0 rg BT 346.39 649.70 Td (in ) Tj ET Q q 0 0 0 rg BT 354.98 649.70 Td (which ) Tj ET Q q 0 0 0 rg BT 376.90 649.70 Td (we ) Tj ET Q q 0 0 0 rg BT 388.61 649.70 Td (operate ) Tj ET Q q 0 0 0 rg BT 414.52 649.70 Td (would ) Tj ET Q q 0 0 0 rg BT 436.89 649.70 Td (enforce ) Tj ET Q q 0 0 0 rg BT 463.24 649.70 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 474.50 649.70 Td (judgments ) Tj ET Q q 0 0 0 rg BT 510.20 649.70 Td (of ) Tj ET Q q 0 0 0 rg BT 519.24 649.70 Td (United ) Tj ET Q q 0 0 0 rg BT 543.39 649.70 Td (States ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 640.10 Td (courts ) Tj ET Q q 0 0 0 rg BT 71.50 640.10 Td (obtained ) Tj ET Q q 0 0 0 rg BT 101.49 640.10 Td (against ) Tj ET Q q 0 0 0 rg BT 126.59 640.10 Td (us ) Tj ET Q q 0 0 0 rg BT 136.15 640.10 Td (or ) Tj ET Q q 0 0 0 rg BT 145.26 640.10 Td (such ) Tj ET Q q 0 0 0 rg BT 162.37 640.10 Td (persons ) Tj ET Q q 0 0 0 rg BT 189.26 640.10 Td (predicated ) Tj ET Q q 0 0 0 rg BT 225.02 640.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 243.46 640.10 Td (the ) Tj ET Q q 0 0 0 rg BT 255.68 640.10 Td (civil ) Tj ET Q q 0 0 0 rg BT 272.34 640.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 299.68 640.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 335.46 640.10 Td (of ) Tj ET Q q 0 0 0 rg BT 344.57 640.10 Td (the ) Tj ET Q q 0 0 0 rg BT 356.79 640.10 Td (United ) Tj ET Q q 0 0 0 rg BT 381.00 640.10 Td (States ) Tj ET Q q 0 0 0 rg BT 402.56 640.10 Td (federal ) Tj ET Q q 0 0 0 rg BT 427.21 640.10 Td (and ) Tj ET Q q 0 0 0 rg BT 441.20 640.10 Td (state ) Tj ET Q q 0 0 0 rg BT 458.31 640.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 490.96 640.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 508.07 640.10 Td (or ) Tj ET Q q 0 0 0 rg BT 517.18 640.10 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 528.96 640.10 Td (in ) Tj ET Q q 0 0 0 rg BT 537.63 640.10 Td (original ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 630.50 Td (actions ) Tj ET Q q 0 0 0 rg BT 74.16 630.50 Td (brought ) Tj ET Q q 0 0 0 rg BT 101.05 630.50 Td (in ) Tj ET Q q 0 0 0 rg BT 109.27 630.50 Td (such ) Tj ET Q q 0 0 0 rg BT 125.93 630.50 Td (countries, ) Tj ET Q q 0 0 0 rg BT 159.26 630.50 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 191.03 630.50 Td (against ) Tj ET Q q 0 0 0 rg BT 215.69 630.50 Td (us ) Tj ET Q q 0 0 0 rg BT 224.80 630.50 Td (or ) Tj ET Q q 0 0 0 rg BT 233.47 630.50 Td (such ) Tj ET Q q 0 0 0 rg BT 250.13 630.50 Td (persons ) Tj ET Q q 0 0 0 rg BT 276.57 630.50 Td (predicated ) Tj ET Q q 0 0 0 rg BT 311.89 630.50 Td (upon ) Tj ET Q q 0 0 0 rg BT 329.89 630.50 Td (the ) Tj ET Q q 0 0 0 rg BT 341.66 630.50 Td (United ) Tj ET Q q 0 0 0 rg BT 365.43 630.50 Td (States ) Tj ET Q q 0 0 0 rg BT 386.54 630.50 Td (federal ) Tj ET Q q 0 0 0 rg BT 410.75 630.50 Td (and ) Tj ET Q q 0 0 0 rg BT 424.30 630.50 Td (state ) Tj ET Q q 0 0 0 rg BT 440.96 630.50 Td (securities ) Tj ET Q q 0 0 0 rg BT 473.17 630.50 Td (laws.) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 610.55 Td (Our ) Tj ET Q q 0 0 0 rg BT 64.84 610.55 Td (bye-laws ) Tj ET Q q 0 0 0 rg BT 95.28 610.55 Td (restrict ) Tj ET Q q 0 0 0 rg BT 120.39 610.55 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 165.06 610.55 Td (from ) Tj ET Q q 0 0 0 rg BT 183.06 610.55 Td (bringing ) Tj ET Q q 0 0 0 rg BT 213.52 610.55 Td (legal ) Tj ET Q q 0 0 0 rg BT 231.52 610.55 Td (action ) Tj ET Q q 0 0 0 rg BT 253.96 610.55 Td (against ) Tj ET Q q 0 0 0 rg BT 279.97 610.55 Td (our ) Tj ET Q q 0 0 0 rg BT 293.53 610.55 Td (of) Tj ET Q q 0 0 0 rg BT 300.05 610.55 Td (ficers ) Tj ET Q q 0 0 0 rg BT 320.27 610.55 Td (and ) Tj ET Q q 0 0 0 rg BT 334.71 610.55 Td (directors.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 594.95 Td (Our ) Tj ET Q q 0 0 0 rg BT 63.48 594.95 Td (bye-laws ) Tj ET Q q 0 0 0 rg BT 93.90 594.95 Td (contain ) Tj ET Q q 0 0 0 rg BT 118.98 594.95 Td (a ) Tj ET Q q 0 0 0 rg BT 124.07 594.95 Td (broad ) Tj ET Q q 0 0 0 rg BT 143.83 594.95 Td (waiver ) Tj ET Q q 0 0 0 rg BT 167.13 594.95 Td (by ) Tj ET Q q 0 0 0 rg BT 176.67 594.95 Td (our ) Tj ET Q q 0 0 0 rg BT 188.88 594.95 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 230.84 594.95 Td (of ) Tj ET Q q 0 0 0 rg BT 239.05 594.95 Td (any ) Tj ET Q q 0 0 0 rg BT 252.14 594.95 Td (claim ) Tj ET Q q 0 0 0 rg BT 271.45 594.95 Td (or ) Tj ET Q q 0 0 0 rg BT 279.65 594.95 Td (right ) Tj ET Q q 0 0 0 rg BT 296.30 594.95 Td (of ) Tj ET Q q 0 0 0 rg BT 304.50 594.95 Td (action ) Tj ET Q q 0 0 0 rg BT 325.59 594.95 Td (in ) Tj ET Q q 0 0 0 rg BT 333.35 594.95 Td (Bermuda, ) Tj ET Q q 0 0 0 rg BT 366.21 594.95 Td (both ) Tj ET Q q 0 0 0 rg BT 381.97 594.95 Td (individually ) Tj ET Q q 0 0 0 rg BT 422.18 594.95 Td (and ) Tj ET Q q 0 0 0 rg BT 435.27 594.95 Td (on ) Tj ET Q q 0 0 0 rg BT 444.80 594.95 Td (our ) Tj ET Q q 0 0 0 rg BT 457.01 594.95 Td (behalf, ) Tj ET Q q 0 0 0 rg BT 480.54 594.95 Td (against ) Tj ET Q q 0 0 0 rg BT 504.73 594.95 Td (any ) Tj ET Q q 0 0 0 rg BT 517.82 594.95 Td (of ) Tj ET Q q 0 0 0 rg BT 526.03 594.95 Td (our ) Tj ET Q q 0 0 0 rg BT 538.23 594.95 Td (of) Tj ET Q q 0 0 0 rg BT 544.75 594.95 Td (ficers ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 585.35 Td (or ) Tj ET Q q 0 0 0 rg BT 58.74 585.35 Td (directors. ) Tj ET Q q 0 0 0 rg BT 91.12 585.35 Td (The ) Tj ET Q q 0 0 0 rg BT 106.14 585.35 Td (waiver ) Tj ET Q q 0 0 0 rg BT 130.48 585.35 Td (applies ) Tj ET Q q 0 0 0 rg BT 155.72 585.35 Td (to ) Tj ET Q q 0 0 0 rg BT 164.52 585.35 Td (any ) Tj ET Q q 0 0 0 rg BT 178.65 585.35 Td (action ) Tj ET Q q 0 0 0 rg BT 200.77 585.35 Td (taken ) Tj ET Q q 0 0 0 rg BT 220.68 585.35 Td (or ) Tj ET Q q 0 0 0 rg BT 229.92 585.35 Td (concurred ) Tj ET Q q 0 0 0 rg BT 264.48 585.35 Td (in ) Tj ET Q q 0 0 0 rg BT 273.28 585.35 Td (by ) Tj ET Q q 0 0 0 rg BT 283.86 585.35 Td (an ) Tj ET Q q 0 0 0 rg BT 293.99 585.35 Td (of) Tj ET Q q 0 0 0 rg BT 300.50 585.35 Td (ficer ) Tj ET Q q 0 0 0 rg BT 317.74 585.35 Td (or ) Tj ET Q q 0 0 0 rg BT 326.98 585.35 Td (director) Tj ET Q q 0 0 0 rg BT 351.53 585.35 Td (, ) Tj ET Q q 0 0 0 rg BT 356.11 585.35 Td (or ) Tj ET Q q 0 0 0 rg BT 365.35 585.35 Td (the ) Tj ET Q q 0 0 0 rg BT 377.70 585.35 Td (failure ) Tj ET Q q 0 0 0 rg BT 401.16 585.35 Td (of ) Tj ET Q q 0 0 0 rg BT 410.40 585.35 Td (an ) Tj ET Q q 0 0 0 rg BT 420.53 585.35 Td (of) Tj ET Q q 0 0 0 rg BT 427.05 585.35 Td (ficer ) Tj ET Q q 0 0 0 rg BT 444.28 585.35 Td (or ) Tj ET Q q 0 0 0 rg BT 453.52 585.35 Td (director ) Tj ET Q q 0 0 0 rg BT 480.97 585.35 Td (to ) Tj ET Q q 0 0 0 rg BT 489.77 585.35 Td (take ) Tj ET Q q 0 0 0 rg BT 505.68 585.35 Td (any ) Tj ET Q q 0 0 0 rg BT 519.81 585.35 Td (action, ) Tj ET Q q 0 0 0 rg BT 543.93 585.35 Td (in ) Tj ET Q q 0 0 0 rg BT 552.73 585.35 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 575.75 Td (performance ) Tj ET Q q 0 0 0 rg BT 91.99 575.75 Td (of ) Tj ET Q q 0 0 0 rg BT 100.72 575.75 Td (his ) Tj ET Q q 0 0 0 rg BT 112.12 575.75 Td (or ) Tj ET Q q 0 0 0 rg BT 120.86 575.75 Td (her ) Tj ET Q q 0 0 0 rg BT 133.14 575.75 Td (duties, ) Tj ET Q q 0 0 0 rg BT 156.32 575.75 Td (except ) Tj ET Q q 0 0 0 rg BT 179.26 575.75 Td (with ) Tj ET Q q 0 0 0 rg BT 195.55 575.75 Td (respect ) Tj ET Q q 0 0 0 rg BT 220.27 575.75 Td (to ) Tj ET Q q 0 0 0 rg BT 228.56 575.75 Td (any ) Tj ET Q q 0 0 0 rg BT 242.18 575.75 Td (matter ) Tj ET Q q 0 0 0 rg BT 264.68 575.75 Td (involving ) Tj ET Q q 0 0 0 rg BT 297.42 575.75 Td (any ) Tj ET Q q 0 0 0 rg BT 311.04 575.75 Td (fraud ) Tj ET Q q 0 0 0 rg BT 329.99 575.75 Td (or ) Tj ET Q q 0 0 0 rg BT 338.72 575.75 Td (dishonesty ) Tj ET Q q 0 0 0 rg BT 375.01 575.75 Td (on ) Tj ET Q q 0 0 0 rg BT 385.08 575.75 Td (the ) Tj ET Q q 0 0 0 rg BT 396.92 575.75 Td (part ) Tj ET Q q 0 0 0 rg BT 411.43 575.75 Td (of ) Tj ET Q q 0 0 0 rg BT 420.16 575.75 Td (the ) Tj ET Q q 0 0 0 rg BT 432.00 575.75 Td (of) Tj ET Q q 0 0 0 rg BT 438.52 575.75 Td (ficer ) Tj ET Q q 0 0 0 rg BT 455.24 575.75 Td (or ) Tj ET Q q 0 0 0 rg BT 463.97 575.75 Td (director) Tj ET Q q 0 0 0 rg BT 488.41 575.75 Td (. ) Tj ET Q q 0 0 0 rg BT 492.33 575.75 Td (This ) Tj ET Q q 0 0 0 rg BT 508.62 575.75 Td (waiver ) Tj ET Q q 0 0 0 rg BT 532.45 575.75 Td (limits ) Tj ET Q q 0 0 0 rg BT 552.75 575.75 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 566.15 Td (right ) Tj ET Q q 0 0 0 rg BT 66.61 566.15 Td (of ) Tj ET Q q 0 0 0 rg BT 75.27 566.15 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 117.70 566.15 Td (to ) Tj ET Q q 0 0 0 rg BT 125.93 566.15 Td (assert ) Tj ET Q q 0 0 0 rg BT 146.14 566.15 Td (claims ) Tj ET Q q 0 0 0 rg BT 169.02 566.15 Td (against ) Tj ET Q q 0 0 0 rg BT 193.68 566.15 Td (our ) Tj ET Q q 0 0 0 rg BT 206.35 566.15 Td (of) Tj ET Q q 0 0 0 rg BT 212.87 566.15 Td (ficers ) Tj ET Q q 0 0 0 rg BT 232.63 566.15 Td (and ) Tj ET Q q 0 0 0 rg BT 246.18 566.15 Td (directors ) Tj ET Q q 0 0 0 rg BT 276.17 566.15 Td (unless ) Tj ET Q q 0 0 0 rg BT 298.17 566.15 Td (the ) Tj ET Q q 0 0 0 rg BT 309.95 566.15 Td (act ) Tj ET Q q 0 0 0 rg BT 321.27 566.15 Td (or ) Tj ET Q q 0 0 0 rg BT 329.93 566.15 Td (failure ) Tj ET Q q 0 0 0 rg BT 352.81 566.15 Td (to ) Tj ET Q q 0 0 0 rg BT 361.03 566.15 Td (act ) Tj ET Q q 0 0 0 rg BT 372.36 566.15 Td (involves ) Tj ET Q q 0 0 0 rg BT 401.46 566.15 Td (fraud ) Tj ET Q q 0 0 0 rg BT 420.34 566.15 Td (or ) Tj ET Q q 0 0 0 rg BT 429.01 566.15 Td (dishonesty) Tj ET Q q 0 0 0 rg BT 462.71 566.15 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 546.25 Td (Risks ) Tj ET Q q 0 0 0 rg BT 70.18 546.25 Td (Relating ) Tj ET Q q 0 0 0 rg BT 101.06 546.25 Td (to ) Tj ET Q q 0 0 0 rg BT 109.73 546.25 Td (our) Tj ET Q q 0 0 0 rg BT 121.58 546.25 Td ( ) Tj ET Q q 0 0 0 rg BT 123.58 546.25 Td (Common ) Tj ET Q q 0 0 0 rg BT 157.14 546.25 Td (Stock) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 526.35 Td (Our ) Tj ET Q q 0 0 0 rg BT 64.84 526.35 Td (share ) Tj ET Q q 0 0 0 rg BT 85.07 526.35 Td (price ) Tj ET Q q 0 0 0 rg BT 103.50 526.35 Td (may ) Tj ET Q q 0 0 0 rg BT 119.28 526.35 Td (be ) Tj ET Q q 0 0 0 rg BT 128.83 526.35 Td (adversely ) Tj ET Q q 0 0 0 rg BT 161.48 526.35 Td (af) Tj ET Q q 0 0 0 rg BT 168.00 526.35 Td (fected ) Tj ET Q q 0 0 0 rg BT 189.54 526.35 Td (by ) Tj ET Q q 0 0 0 rg BT 199.09 526.35 Td (sales ) Tj ET Q q 0 0 0 rg BT 217.09 526.35 Td (of ) Tj ET Q q 0 0 0 rg BT 225.75 526.35 Td (unregistered ) Tj ET Q q 0 0 0 rg BT 269.09 526.35 Td (shares ) Tj ET Q q 0 0 0 rg BT 292.43 526.35 Td (or ) Tj ET Q q 0 0 0 rg BT 301.54 526.35 Td (future ) Tj ET Q q 0 0 0 rg BT 323.99 526.35 Td (issuances ) Tj ET Q q 0 0 0 rg BT 357.55 526.35 Td (of ) Tj ET Q q 0 0 0 rg BT 366.22 526.35 Td (our ) Tj ET Q q 0 0 0 rg BT 379.78 526.35 Td (shares.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 510.75 Td (T) Tj ET Q q 0 0 0 rg BT 54.11 510.75 Td (ime ) Tj ET Q q 0 0 0 rg BT 67.99 510.75 Td (W) Tj ET Q q 0 0 0 rg BT 74.90 510.75 Td (arner ) Tj ET Q q 0 0 0 rg BT 93.37 510.75 Td (is ) Tj ET Q q 0 0 0 rg BT 100.75 510.75 Td (the ) Tj ET Q q 0 0 0 rg BT 112.56 510.75 Td (lar) Tj ET Q q 0 0 0 rg BT 120.85 510.75 Td (gest ) Tj ET Q q 0 0 0 rg BT 135.78 510.75 Td (holder ) Tj ET Q q 0 0 0 rg BT 158.25 510.75 Td (of ) Tj ET Q q 0 0 0 rg BT 166.96 510.75 Td (shares ) Tj ET Q q 0 0 0 rg BT 188.99 510.75 Td (of ) Tj ET Q q 0 0 0 rg BT 197.69 510.75 Td (our ) Tj ET Q q 0 0 0 rg BT 210.40 510.75 Td (Class ) Tj ET Q q 0 0 0 rg BT 229.32 510.75 Td (A) Tj ET Q q 0 0 0 rg BT 234.66 510.75 Td ( ) Tj ET Q q 0 0 0 rg BT 236.70 510.75 Td (common ) Tj ET Q q 0 0 0 rg BT 266.73 510.75 Td (stock, ) Tj ET Q q 0 0 0 rg BT 287.66 510.75 Td (holding ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.14 510.75 Td (61,407,775) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 350.14 510.75 Td ( ) Tj ET Q q 0 0 0 rg BT 352.18 510.75 Td (unregistered ) Tj ET Q q 0 0 0 rg BT 393.76 510.75 Td (shares ) Tj ET Q q 0 0 0 rg BT 415.79 510.75 Td (of ) Tj ET Q q 0 0 0 rg BT 424.49 510.75 Td (Class ) Tj ET Q q 0 0 0 rg BT 443.42 510.75 Td (A) Tj ET Q q 0 0 0 rg BT 448.75 510.75 Td ( ) Tj ET Q q 0 0 0 rg BT 450.79 510.75 Td (common ) Tj ET Q q 0 0 0 rg BT 480.83 510.75 Td (stock, ) Tj ET Q q 0 0 0 rg BT 501.75 510.75 Td (one ) Tj ET Q q 0 0 0 rg BT 515.34 510.75 Td (share ) Tj ET Q q 0 0 0 rg BT 534.26 510.75 Td (of ) Tj ET Q q 0 0 0 rg BT 542.96 510.75 Td (Series ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 501.15 Td (A) Tj ET Q q 0 0 0 rg BT 54.84 501.15 Td ( ) Tj ET Q q 0 0 0 rg BT 56.66 501.15 Td (preferred ) Tj ET Q q 0 0 0 rg BT 87.79 501.15 Td (stock, ) Tj ET Q q 0 0 0 rg BT 108.51 501.15 Td (200,000 ) Tj ET Q q 0 0 0 rg BT 136.33 501.15 Td (shares ) Tj ET Q q 0 0 0 rg BT 158.15 501.15 Td (of ) Tj ET Q q 0 0 0 rg BT 166.64 501.15 Td (Series ) Tj ET Q q 0 0 0 rg BT 188.01 501.15 Td (B ) Tj ET Q q 0 0 0 rg BT 195.18 501.15 Td (preferred ) Tj ET Q q 0 0 0 rg BT 226.31 501.15 Td (stock ) Tj ET Q q 0 0 0 rg BT 245.02 501.15 Td (and ) Tj ET Q q 0 0 0 rg BT 258.40 501.15 Td (warrants ) Tj ET Q q 0 0 0 rg BT 287.77 501.15 Td (to ) Tj ET Q q 0 0 0 rg BT 295.81 501.15 Td (acquire ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.18 501.15 Td (100,926,996) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 361.18 501.15 Td ( ) Tj ET Q q 0 0 0 rg BT 363.00 501.15 Td (shares ) Tj ET Q q 0 0 0 rg BT 384.82 501.15 Td (of ) Tj ET Q q 0 0 0 rg BT 393.31 501.15 Td (our ) Tj ET Q q 0 0 0 rg BT 405.80 501.15 Td (Class ) Tj ET Q q 0 0 0 rg BT 424.56 501.15 Td (A) Tj ET Q q 0 0 0 rg BT 429.89 501.15 Td ( ) Tj ET Q q 0 0 0 rg BT 431.72 501.15 Td (common ) Tj ET Q q 0 0 0 rg BT 461.54 501.15 Td (stock ) Tj ET Q q 0 0 0 rg BT 480.25 501.15 Td (\(the ) Tj ET Q q 0 0 0 rg BT 494.51 501.15 Td ("TW) Tj ET Q q 0 0 0 rg BT 510.07 501.15 Td ( ) Tj ET Q q 0 0 0 rg BT 511.77 501.15 Td (W) Tj ET Q q 0 0 0 rg BT 518.68 501.15 Td (arrants"\). ) Tj ET Q q 0 0 0 rg BT 550.06 501.15 Td (The ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 491.55 Td (share ) Tj ET Q q 0 0 0 rg BT 68.13 491.55 Td (of ) Tj ET Q q 0 0 0 rg BT 76.54 491.55 Td (Series ) Tj ET Q q 0 0 0 rg BT 97.46 491.55 Td (A) Tj ET Q q 0 0 0 rg BT 102.80 491.55 Td ( ) Tj ET Q q 0 0 0 rg BT 104.55 491.55 Td (preferred ) Tj ET Q q 0 0 0 rg BT 135.61 491.55 Td (stock ) Tj ET Q q 0 0 0 rg BT 154.24 491.55 Td (is ) Tj ET Q q 0 0 0 rg BT 161.33 491.55 Td (convertible ) Tj ET Q q 0 0 0 rg BT 199.07 491.55 Td (into ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 213.26 491.55 Td (1) Tj ET Q q 0 0 0 rg BT 216.97 491.55 Td (1,21) Tj ET Q q 0 0 0 rg BT 230.67 491.55 Td (1,449) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 248.67 491.55 Td ( ) Tj ET Q q 0 0 0 rg BT 250.42 491.55 Td (shares ) Tj ET Q q 0 0 0 rg BT 272.16 491.55 Td (of ) Tj ET Q q 0 0 0 rg BT 280.58 491.55 Td (Class ) Tj ET Q q 0 0 0 rg BT 299.28 491.55 Td (A) Tj ET Q q 0 0 0 rg BT 304.62 491.55 Td ( ) Tj ET Q q 0 0 0 rg BT 306.37 491.55 Td (common ) Tj ET Q q 0 0 0 rg BT 336.11 491.55 Td (stock. ) Tj ET Q q 0 0 0 rg BT 356.62 491.55 Td (The ) Tj ET Q q 0 0 0 rg BT 370.81 491.55 Td (shares ) Tj ET Q q 0 0 0 rg BT 392.56 491.55 Td (of ) Tj ET Q q 0 0 0 rg BT 400.97 491.55 Td (Series ) Tj ET Q q 0 0 0 rg BT 422.27 491.55 Td (B ) Tj ET Q q 0 0 0 rg BT 429.36 491.55 Td (preferred ) Tj ET Q q 0 0 0 rg BT 460.42 491.55 Td (stock ) Tj ET Q q 0 0 0 rg BT 479.06 491.55 Td (are ) Tj ET Q q 0 0 0 rg BT 490.57 491.55 Td (convertible ) Tj ET Q q 0 0 0 rg BT 528.31 491.55 Td (into ) Tj ET Q q 0 0 0 rg BT 542.51 491.55 Td (shares ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 481.95 Td (of ) Tj ET Q q 0 0 0 rg BT 57.97 481.95 Td (Class ) Tj ET Q q 0 0 0 rg BT 76.71 481.95 Td (A) Tj ET Q q 0 0 0 rg BT 82.04 481.95 Td ( ) Tj ET Q q 0 0 0 rg BT 83.84 481.95 Td (common ) Tj ET Q q 0 0 0 rg BT 113.64 481.95 Td (stock ) Tj ET Q q 0 0 0 rg BT 132.33 481.95 Td (from ) Tj ET Q q 0 0 0 rg BT 149.68 481.95 Td (June ) Tj ET Q q 0 0 0 rg BT 166.15 481.95 Td (25, ) Tj ET Q q 0 0 0 rg BT 177.95 481.95 Td (2016 ) Tj ET Q q 0 0 0 rg BT 195.75 481.95 Td (at ) Tj ET Q q 0 0 0 rg BT 203.33 481.95 Td (the ) Tj ET Q q 0 0 0 rg BT 214.90 481.95 Td (option ) Tj ET Q q 0 0 0 rg BT 237.15 481.95 Td (of ) Tj ET Q q 0 0 0 rg BT 245.48 481.95 Td (T) Tj ET Q q 0 0 0 rg BT 250.09 481.95 Td (ime ) Tj ET Q q 0 0 0 rg BT 263.76 481.95 Td (W) Tj ET Q q 0 0 0 rg BT 270.67 481.95 Td (arner ) Tj ET Q q 0 0 0 rg BT 288.90 481.95 Td (\(subject ) Tj ET Q q 0 0 0 rg BT 316.03 481.95 Td (to ) Tj ET Q q 0 0 0 rg BT 324.05 481.95 Td (certain ) Tj ET Q q 0 0 0 rg BT 347.61 481.95 Td (exceptions\). ) Tj ET Q q 0 0 0 rg BT 387.89 481.95 Td (As ) Tj ET Q q 0 0 0 rg BT 398.58 481.95 Td (of ) Tj ET Q q 0 0 0 rg BT 407.05 481.95 Td (December ) Tj ET Q q 0 0 0 rg BT 441.72 481.95 Td (31, ) Tj ET Q q 0 0 0 rg BT 453.52 481.95 Td (2014, ) Tj ET Q q 0 0 0 rg BT 473.32 481.95 Td (the ) Tj ET Q q 0 0 0 rg BT 484.90 481.95 Td (200,000 ) Tj ET Q q 0 0 0 rg BT 512.70 481.95 Td (shares ) Tj ET Q q 0 0 0 rg BT 534.49 481.95 Td (of ) Tj ET Q q 0 0 0 rg BT 542.96 481.95 Td (Series ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 472.35 Td (B ) Tj ET Q q 0 0 0 rg BT 56.64 472.35 Td (preferred ) Tj ET Q q 0 0 0 rg BT 87.75 472.35 Td (stock ) Tj ET Q q 0 0 0 rg BT 106.45 472.35 Td (were ) Tj ET Q q 0 0 0 rg BT 123.79 472.35 Td (convertible ) Tj ET Q q 0 0 0 rg BT 161.58 472.35 Td (into ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 175.83 472.35 Td (92,363,397) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 211.83 472.35 Td ( ) Tj ET Q q 0 0 0 rg BT 213.64 472.35 Td (shares ) Tj ET Q q 0 0 0 rg BT 235.43 472.35 Td (of ) Tj ET Q q 0 0 0 rg BT 243.90 472.35 Td (Class ) Tj ET Q q 0 0 0 rg BT 262.64 472.35 Td (A) Tj ET Q q 0 0 0 rg BT 267.98 472.35 Td ( ) Tj ET Q q 0 0 0 rg BT 269.79 472.35 Td (common ) Tj ET Q q 0 0 0 rg BT 299.59 472.35 Td (stock. ) Tj ET Q q 0 0 0 rg BT 320.15 472.35 Td (The ) Tj ET Q q 0 0 0 rg BT 334.26 472.35 Td (TW) Tj ET Q q 0 0 0 rg BT 346.55 472.35 Td ( ) Tj ET Q q 0 0 0 rg BT 348.23 472.35 Td (W) Tj ET Q q 0 0 0 rg BT 355.14 472.35 Td (arrants ) Tj ET Q q 0 0 0 rg BT 378.71 472.35 Td (are ) Tj ET Q q 0 0 0 rg BT 390.28 472.35 Td (convertible ) Tj ET Q q 0 0 0 rg BT 428.07 472.35 Td (into ) Tj ET Q q 0 0 0 rg BT 442.32 472.35 Td (shares ) Tj ET Q q 0 0 0 rg BT 464.11 472.35 Td (of ) Tj ET Q q 0 0 0 rg BT 472.58 472.35 Td (Class ) Tj ET Q q 0 0 0 rg BT 491.32 472.35 Td (A) Tj ET Q q 0 0 0 rg BT 496.66 472.35 Td ( ) Tj ET Q q 0 0 0 rg BT 498.46 472.35 Td (common ) Tj ET Q q 0 0 0 rg BT 528.27 472.35 Td (stock ) Tj ET Q q 0 0 0 rg BT 546.96 472.35 Td (from ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 462.75 Td (May ) Tj ET Q q 0 0 0 rg BT 66.46 462.75 Td (2, ) Tj ET Q q 0 0 0 rg BT 74.76 462.75 Td (2016 ) Tj ET Q q 0 0 0 rg BT 93.06 462.75 Td (until ) Tj ET Q q 0 0 0 rg BT 110.02 462.75 Td (May ) Tj ET Q q 0 0 0 rg BT 126.99 462.75 Td (2, ) Tj ET Q q 0 0 0 rg BT 135.28 462.75 Td (2018, ) Tj ET Q q 0 0 0 rg BT 155.58 462.75 Td (subject ) Tj ET Q q 0 0 0 rg BT 180.54 462.75 Td (to ) Tj ET Q q 0 0 0 rg BT 189.06 462.75 Td (the ) Tj ET Q q 0 0 0 rg BT 201.13 462.75 Td (right ) Tj ET Q q 0 0 0 rg BT 218.54 462.75 Td (of ) Tj ET Q q 0 0 0 rg BT 227.33 462.75 Td (T) Tj ET Q q 0 0 0 rg BT 231.94 462.75 Td (ime ) Tj ET Q q 0 0 0 rg BT 246.07 462.75 Td (W) Tj ET Q q 0 0 0 rg BT 252.98 462.75 Td (arner ) Tj ET Q q 0 0 0 rg BT 271.71 462.75 Td (to ) Tj ET Q q 0 0 0 rg BT 280.23 462.75 Td (exercise ) Tj ET Q q 0 0 0 rg BT 308.73 462.75 Td (such ) Tj ET Q q 0 0 0 rg BT 325.69 462.75 Td (warrants ) Tj ET Q q 0 0 0 rg BT 355.53 462.75 Td (prior ) Tj ET Q q 0 0 0 rg BT 373.38 462.75 Td (to ) Tj ET Q q 0 0 0 rg BT 381.90 462.75 Td (May ) Tj ET Q q 0 0 0 rg BT 398.86 462.75 Td (2, ) Tj ET Q q 0 0 0 rg BT 407.16 462.75 Td (2016 ) Tj ET Q q 0 0 0 rg BT 425.46 462.75 Td (in ) Tj ET Q q 0 0 0 rg BT 433.98 462.75 Td (certain ) Tj ET Q q 0 0 0 rg BT 458.04 462.75 Td (circumstances. ) Tj ET Q q 0 0 0 rg BT 507.48 462.75 Td (T) Tj ET Q q 0 0 0 rg BT 512.09 462.75 Td (ime ) Tj ET Q q 0 0 0 rg BT 526.21 462.75 Td (W) Tj ET Q q 0 0 0 rg BT 533.12 462.75 Td (arner ) Tj ET Q q 0 0 0 rg BT 551.85 462.75 Td (has ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 453.15 Td (registration ) Tj ET Q q 0 0 0 rg BT 87.93 453.15 Td (rights ) Tj ET Q q 0 0 0 rg BT 108.14 453.15 Td (with ) Tj ET Q q 0 0 0 rg BT 124.36 453.15 Td (respect ) Tj ET Q q 0 0 0 rg BT 149.00 453.15 Td (to ) Tj ET Q q 0 0 0 rg BT 157.22 453.15 Td (all ) Tj ET Q q 0 0 0 rg BT 167.21 453.15 Td (its ) Tj ET Q q 0 0 0 rg BT 176.76 453.15 Td (shares ) Tj ET Q q 0 0 0 rg BT 198.75 453.15 Td (of ) Tj ET Q q 0 0 0 rg BT 207.40 453.15 Td (Class ) Tj ET Q q 0 0 0 rg BT 226.29 453.15 Td (A) Tj ET Q q 0 0 0 rg BT 231.63 453.15 Td ( ) Tj ET Q q 0 0 0 rg BT 233.62 453.15 Td (common ) Tj ET Q q 0 0 0 rg BT 263.61 453.15 Td (stock ) Tj ET Q q 0 0 0 rg BT 282.49 453.15 Td (now ) Tj ET Q q 0 0 0 rg BT 298.26 453.15 Td (held ) Tj ET Q q 0 0 0 rg BT 314.03 453.15 Td (or ) Tj ET Q q 0 0 0 rg BT 322.69 453.15 Td (hereafter ) Tj ET Q q 0 0 0 rg BT 353.10 453.15 Td (acquired. ) Tj ET Q q 0 0 0 rg BT 384.63 453.15 Td (Furthermore, ) Tj ET Q q 0 0 0 rg BT 428.61 453.15 Td (there ) Tj ET Q q 0 0 0 rg BT 446.59 453.15 Td (are ) Tj ET Q q 0 0 0 rg BT 458.35 453.15 Td (additional ) Tj ET Q q 0 0 0 rg BT 492.34 453.15 Td (unregistered ) Tj ET Q q 0 0 0 rg BT 533.87 453.15 Td (shares ) Tj ET Q q 0 0 0 rg BT 555.85 453.15 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 443.55 Td (our ) Tj ET Q q 0 0 0 rg BT 62.09 443.55 Td (Class ) Tj ET Q q 0 0 0 rg BT 80.92 443.55 Td (A) Tj ET Q q 0 0 0 rg BT 86.26 443.55 Td ( ) Tj ET Q q 0 0 0 rg BT 88.18 443.55 Td (common ) Tj ET Q q 0 0 0 rg BT 118.10 443.55 Td (stock ) Tj ET Q q 0 0 0 rg BT 136.91 443.55 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 176.17 443.55 Td (and ) Tj ET Q q 0 0 0 rg BT 189.64 443.55 Td (shares ) Tj ET Q q 0 0 0 rg BT 211.56 443.55 Td (of ) Tj ET Q q 0 0 0 rg BT 220.15 443.55 Td (Class ) Tj ET Q q 0 0 0 rg BT 238.98 443.55 Td (A) Tj ET Q q 0 0 0 rg BT 244.32 443.55 Td ( ) Tj ET Q q 0 0 0 rg BT 246.24 443.55 Td (common ) Tj ET Q q 0 0 0 rg BT 276.16 443.55 Td (stock ) Tj ET Q q 0 0 0 rg BT 294.97 443.55 Td (underlying ) Tj ET Q q 0 0 0 rg BT 331.56 443.55 Td (other ) Tj ET Q q 0 0 0 rg BT 349.92 443.55 Td (warrants ) Tj ET Q q 0 0 0 rg BT 379.38 443.55 Td (that ) Tj ET Q q 0 0 0 rg BT 393.30 443.55 Td (may ) Tj ET Q q 0 0 0 rg BT 409.00 443.55 Td (enter ) Tj ET Q q 0 0 0 rg BT 426.91 443.55 Td (into ) Tj ET Q q 0 0 0 rg BT 441.28 443.55 Td (trading. ) Tj ET Q q 0 0 0 rg BT 467.87 443.55 Td (For ) Tj ET Q q 0 0 0 rg BT 480.90 443.55 Td (additional ) Tj ET Q q 0 0 0 rg BT 514.82 443.55 Td (information ) Tj ET Q q 0 0 0 rg BT 554.51 443.55 Td (on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 433.95 Td (the ) Tj ET Q q 0 0 0 rg BT 61.70 433.95 Td (Series ) Tj ET Q q 0 0 0 rg BT 83.15 433.95 Td (A) Tj ET Q q 0 0 0 rg BT 88.48 433.95 Td ( ) Tj ET Q q 0 0 0 rg BT 90.92 433.95 Td (preferred ) Tj ET Q q 0 0 0 rg BT 122.65 433.95 Td (stock, ) Tj ET Q q 0 0 0 rg BT 143.97 433.95 Td (Series ) Tj ET Q q 0 0 0 rg BT 165.95 433.95 Td (B ) Tj ET Q q 0 0 0 rg BT 173.72 433.95 Td (preferred ) Tj ET Q q 0 0 0 rg BT 205.46 433.95 Td (stock ) Tj ET Q q 0 0 0 rg BT 224.78 433.95 Td (and ) Tj ET Q q 0 0 0 rg BT 238.58 433.95 Td (TW) Tj ET Q q 0 0 0 rg BT 250.88 433.95 Td ( ) Tj ET Q q 0 0 0 rg BT 253.13 433.95 Td (W) Tj ET Q q 0 0 0 rg BT 260.04 433.95 Td (arrants, ) Tj ET Q q 0 0 0 rg BT 286.24 433.95 Td (see ) Tj ET Q q 0 0 0 rg BT 298.88 433.95 Td (Part ) Tj ET Q q 0 0 0 rg BT 314.20 433.95 Td (II, ) Tj ET Q q 0 0 0 rg BT 323.96 433.95 Td (Item ) Tj ET Q q 0 0 0 rg BT 341.05 433.95 Td (8, ) Tj ET Q q 0 0 0 rg BT 349.48 433.95 Td (Note ) Tj ET Q q 0 0 0 rg BT 367.46 433.95 Td (12 ) Tj ET Q q 0 0 0 rg BT 377.89 433.95 Td ("Convertible ) Tj ET Q q 0 0 0 rg BT 421.36 433.95 Td (Redeemable ) Tj ET Q q 0 0 0 rg BT 463.32 433.95 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 495.51 433.95 Td (Shares" ) Tj ET Q q 0 0 0 rg BT 522.54 433.95 Td (and ) Tj ET Q q 0 0 0 rg BT 536.52 433.95 Td (Note ) Tj ET Q q 0 0 0 rg BT 554.50 433.95 Td (13 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 424.35 Td ("Equity) Tj ET Q q 0 0 0 rg BT 73.58 424.35 Td (.") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 408.75 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 408.75 Td (e ) Tj ET Q q 0 0 0 rg BT 62.08 408.75 Td (cannot ) Tj ET Q q 0 0 0 rg BT 85.52 408.75 Td (predict ) Tj ET Q q 0 0 0 rg BT 109.84 408.75 Td (what ) Tj ET Q q 0 0 0 rg BT 127.51 408.75 Td (ef) Tj ET Q q 0 0 0 rg BT 133.58 408.75 Td (fect, ) Tj ET Q q 0 0 0 rg BT 149.69 408.75 Td (if ) Tj ET Q q 0 0 0 rg BT 156.69 408.75 Td (any) Tj ET Q q 0 0 0 rg BT 167.72 408.75 Td (, ) Tj ET Q q 0 0 0 rg BT 171.84 408.75 Td (the ) Tj ET Q q 0 0 0 rg BT 183.73 408.75 Td (entry ) Tj ET Q q 0 0 0 rg BT 202.28 408.75 Td (into ) Tj ET Q q 0 0 0 rg BT 216.84 408.75 Td (trading ) Tj ET Q q 0 0 0 rg BT 241.62 408.75 Td (of ) Tj ET Q q 0 0 0 rg BT 250.40 408.75 Td (previously ) Tj ET Q q 0 0 0 rg BT 286.29 408.75 Td (issued ) Tj ET Q q 0 0 0 rg BT 308.40 408.75 Td (unregistered ) Tj ET Q q 0 0 0 rg BT 350.06 408.75 Td (shares ) Tj ET Q q 0 0 0 rg BT 372.17 408.75 Td (of ) Tj ET Q q 0 0 0 rg BT 380.95 408.75 Td (Class ) Tj ET Q q 0 0 0 rg BT 399.93 408.75 Td (A) Tj ET Q q 0 0 0 rg BT 405.27 408.75 Td ( ) Tj ET Q q 0 0 0 rg BT 407.39 408.75 Td (Common ) Tj ET Q q 0 0 0 rg BT 439.28 408.75 Td (Stock ) Tj ET Q q 0 0 0 rg BT 459.62 408.75 Td (will ) Tj ET Q q 0 0 0 rg BT 474.18 408.75 Td (have ) Tj ET Q q 0 0 0 rg BT 491.40 408.75 Td (on ) Tj ET Q q 0 0 0 rg BT 501.52 408.75 Td (the ) Tj ET Q q 0 0 0 rg BT 513.41 408.75 Td (market ) Tj ET Q q 0 0 0 rg BT 537.73 408.75 Td (price ) Tj ET Q q 0 0 0 rg BT 555.84 408.75 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 399.15 Td (our ) Tj ET Q q 0 0 0 rg BT 62.57 399.15 Td (shares. ) Tj ET Q q 0 0 0 rg BT 86.80 399.15 Td (W) Tj ET Q q 0 0 0 rg BT 93.71 399.15 Td (e ) Tj ET Q q 0 0 0 rg BT 99.67 399.15 Td (may ) Tj ET Q q 0 0 0 rg BT 115.85 399.15 Td (also ) Tj ET Q q 0 0 0 rg BT 131.14 399.15 Td (issue ) Tj ET Q q 0 0 0 rg BT 149.55 399.15 Td (additional ) Tj ET Q q 0 0 0 rg BT 183.95 399.15 Td (shares ) Tj ET Q q 0 0 0 rg BT 206.35 399.15 Td (of ) Tj ET Q q 0 0 0 rg BT 215.43 399.15 Td (Class ) Tj ET Q q 0 0 0 rg BT 234.64 399.15 Td (A) Tj ET Q q 0 0 0 rg BT 239.97 399.15 Td ( ) Tj ET Q q 0 0 0 rg BT 242.38 399.15 Td (common ) Tj ET Q q 0 0 0 rg BT 272.79 399.15 Td (stock ) Tj ET Q q 0 0 0 rg BT 292.08 399.15 Td (or ) Tj ET Q q 0 0 0 rg BT 301.15 399.15 Td (securities ) Tj ET Q q 0 0 0 rg BT 333.77 399.15 Td (convertible ) Tj ET Q q 0 0 0 rg BT 372.17 399.15 Td (into ) Tj ET Q q 0 0 0 rg BT 387.02 399.15 Td (our ) Tj ET Q q 0 0 0 rg BT 400.09 399.15 Td (equity ) Tj ET Q q 0 0 0 rg BT 422.50 399.15 Td (in ) Tj ET Q q 0 0 0 rg BT 431.13 399.15 Td (the ) Tj ET Q q 0 0 0 rg BT 443.31 399.15 Td (future. ) Tj ET Q q 0 0 0 rg BT 466.82 399.15 Td (If ) Tj ET Q q 0 0 0 rg BT 474.55 399.15 Td (more ) Tj ET Q q 0 0 0 rg BT 493.40 399.15 Td (shares ) Tj ET Q q 0 0 0 rg BT 515.80 399.15 Td (of ) Tj ET Q q 0 0 0 rg BT 524.87 399.15 Td (our ) Tj ET Q q 0 0 0 rg BT 537.94 399.15 Td (Class ) Tj ET Q q 0 0 0 rg BT 557.16 399.15 Td (A) Tj ET Q q 0 0 0 rg BT 562.49 399.15 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 389.55 Td (common ) Tj ET Q q 0 0 0 rg BT 79.06 389.55 Td (stock ) Tj ET Q q 0 0 0 rg BT 97.52 389.55 Td (\(or ) Tj ET Q q 0 0 0 rg BT 108.42 389.55 Td (securities ) Tj ET Q q 0 0 0 rg BT 140.20 389.55 Td (convertible ) Tj ET Q q 0 0 0 rg BT 177.75 389.55 Td (into ) Tj ET Q q 0 0 0 rg BT 191.76 389.55 Td (or ) Tj ET Q q 0 0 0 rg BT 199.99 389.55 Td (exchangeable ) Tj ET Q q 0 0 0 rg BT 245.09 389.55 Td (for ) Tj ET Q q 0 0 0 rg BT 255.99 389.55 Td (shares ) Tj ET Q q 0 0 0 rg BT 277.55 389.55 Td (of ) Tj ET Q q 0 0 0 rg BT 285.78 389.55 Td (our ) Tj ET Q q 0 0 0 rg BT 298.01 389.55 Td (Class ) Tj ET Q q 0 0 0 rg BT 316.57 389.55 Td (A) Tj ET Q q 0 0 0 rg BT 321.91 389.55 Td ( ) Tj ET Q q 0 0 0 rg BT 323.47 389.55 Td (common ) Tj ET Q q 0 0 0 rg BT 353.04 389.55 Td (stock\) ) Tj ET Q q 0 0 0 rg BT 374.16 389.55 Td (are ) Tj ET Q q 0 0 0 rg BT 385.49 389.55 Td (issued ) Tj ET Q q 0 0 0 rg BT 407.06 389.55 Td (to ) Tj ET Q q 0 0 0 rg BT 414.74 389.55 Td (T) Tj ET Q q 0 0 0 rg BT 419.34 389.55 Td (ime ) Tj ET Q q 0 0 0 rg BT 432.79 389.55 Td (W) Tj ET Q q 0 0 0 rg BT 439.70 389.55 Td (arner) Tj ET Q q 0 0 0 rg BT 455.81 389.55 Td (, ) Tj ET Q q 0 0 0 rg BT 459.38 389.55 Td (the ) Tj ET Q q 0 0 0 rg BT 470.72 389.55 Td (economic ) Tj ET Q q 0 0 0 rg BT 503.39 389.55 Td (interests ) Tj ET Q q 0 0 0 rg BT 531.62 389.55 Td (of ) Tj ET Q q 0 0 0 rg BT 539.85 389.55 Td (current ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 379.95 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 91.93 379.95 Td (may ) Tj ET Q q 0 0 0 rg BT 107.70 379.95 Td (be ) Tj ET Q q 0 0 0 rg BT 117.25 379.95 Td (diluted ) Tj ET Q q 0 0 0 rg BT 141.47 379.95 Td (and ) Tj ET Q q 0 0 0 rg BT 155.02 379.95 Td (the ) Tj ET Q q 0 0 0 rg BT 166.80 379.95 Td (price ) Tj ET Q q 0 0 0 rg BT 184.79 379.95 Td (of ) Tj ET Q q 0 0 0 rg BT 193.45 379.95 Td (our ) Tj ET Q q 0 0 0 rg BT 206.11 379.95 Td (shares ) Tj ET Q q 0 0 0 rg BT 228.11 379.95 Td (may ) Tj ET Q q 0 0 0 rg BT 243.88 379.95 Td (be ) Tj ET Q q 0 0 0 rg BT 253.43 379.95 Td (adversely ) Tj ET Q q 0 0 0 rg BT 286.08 379.95 Td (af) Tj ET Q q 0 0 0 rg BT 292.15 379.95 Td (fected.) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 360.00 Td (The ) Tj ET Q q 0 0 0 rg BT 64.39 360.00 Td (interests ) Tj ET Q q 0 0 0 rg BT 93.95 360.00 Td (of ) Tj ET Q q 0 0 0 rg BT 102.61 360.00 Td (T) Tj ET Q q 0 0 0 rg BT 107.20 360.00 Td (ime ) Tj ET Q q 0 0 0 rg BT 121.05 360.00 Td (W) Tj ET Q q 0 0 0 rg BT 127.57 360.00 Td (arner ) Tj ET Q q 0 0 0 rg BT 147.80 360.00 Td (may ) Tj ET Q q 0 0 0 rg BT 163.57 360.00 Td (conflict ) Tj ET Q q 0 0 0 rg BT 190.45 360.00 Td (with ) Tj ET Q q 0 0 0 rg BT 206.68 360.00 Td (the ) Tj ET Q q 0 0 0 rg BT 218.91 360.00 Td (interests ) Tj ET Q q 0 0 0 rg BT 248.46 360.00 Td (of ) Tj ET Q q 0 0 0 rg BT 257.13 360.00 Td (other ) Tj ET Q q 0 0 0 rg BT 276.46 360.00 Td (investors.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 344.40 Td (T) Tj ET Q q 0 0 0 rg BT 54.11 344.40 Td (ime ) Tj ET Q q 0 0 0 rg BT 67.59 344.40 Td (W) Tj ET Q q 0 0 0 rg BT 74.50 344.40 Td (arner ) Tj ET Q q 0 0 0 rg BT 92.54 344.40 Td (is ) Tj ET Q q 0 0 0 rg BT 99.49 344.40 Td (able ) Tj ET Q q 0 0 0 rg BT 114.42 344.40 Td (to ) Tj ET Q q 0 0 0 rg BT 122.25 344.40 Td (exercise ) Tj ET Q q 0 0 0 rg BT 150.06 344.40 Td (voting ) Tj ET Q q 0 0 0 rg BT 172.12 344.40 Td (power ) Tj ET Q q 0 0 0 rg BT 193.72 344.40 Td (in ) Tj ET Q q 0 0 0 rg BT 201.55 344.40 Td (us ) Tj ET Q q 0 0 0 rg BT 210.27 344.40 Td (with ) Tj ET Q q 0 0 0 rg BT 226.10 344.40 Td (respect ) Tj ET Q q 0 0 0 rg BT 250.36 344.40 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 258.19 344.40 Td (49.6%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.86 344.40 Td ( ) Tj ET Q q 0 0 0 rg BT 280.46 344.40 Td (of ) Tj ET Q q 0 0 0 rg BT 288.74 344.40 Td (our ) Tj ET Q q 0 0 0 rg BT 301.01 344.40 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 339.95 344.40 Td (shares ) Tj ET Q q 0 0 0 rg BT 361.55 344.40 Td (of ) Tj ET Q q 0 0 0 rg BT 369.82 344.40 Td (Class ) Tj ET Q q 0 0 0 rg BT 388.41 344.40 Td (A) Tj ET Q q 0 0 0 rg BT 393.75 344.40 Td ( ) Tj ET Q q 0 0 0 rg BT 395.36 344.40 Td (common ) Tj ET Q q 0 0 0 rg BT 424.96 344.40 Td (stock. ) Tj ET Q q 0 0 0 rg BT 445.10 344.40 Td (As ) Tj ET Q q 0 0 0 rg BT 455.60 344.40 Td (such, ) Tj ET Q q 0 0 0 rg BT 473.76 344.40 Td (T) Tj ET Q q 0 0 0 rg BT 478.36 344.40 Td (ime ) Tj ET Q q 0 0 0 rg BT 491.85 344.40 Td (W) Tj ET Q q 0 0 0 rg BT 498.76 344.40 Td (arner ) Tj ET Q q 0 0 0 rg BT 516.80 344.40 Td (is ) Tj ET Q q 0 0 0 rg BT 523.74 344.40 Td (in ) Tj ET Q q 0 0 0 rg BT 531.57 344.40 Td (a ) Tj ET Q q 0 0 0 rg BT 536.73 344.40 Td (position ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 334.80 Td (to ) Tj ET Q q 0 0 0 rg BT 58.09 334.80 Td (exercise ) Tj ET Q q 0 0 0 rg BT 86.65 334.80 Td (significant ) Tj ET Q q 0 0 0 rg BT 122.79 334.80 Td (influence ) Tj ET Q q 0 0 0 rg BT 154.91 334.80 Td (over ) Tj ET Q q 0 0 0 rg BT 171.49 334.80 Td (the ) Tj ET Q q 0 0 0 rg BT 183.63 334.80 Td (outcome ) Tj ET Q q 0 0 0 rg BT 213.54 334.80 Td (of ) Tj ET Q q 0 0 0 rg BT 222.57 334.80 Td (corporate ) Tj ET Q q 0 0 0 rg BT 255.14 334.80 Td (actions ) Tj ET Q q 0 0 0 rg BT 280.16 334.80 Td (requiring ) Tj ET Q q 0 0 0 rg BT 311.85 334.80 Td (shareholder ) Tj ET Q q 0 0 0 rg BT 351.53 334.80 Td (approval, ) Tj ET Q q 0 0 0 rg BT 383.88 334.80 Td (such ) Tj ET Q q 0 0 0 rg BT 400.91 334.80 Td (as ) Tj ET Q q 0 0 0 rg BT 409.94 334.80 Td (the ) Tj ET Q q 0 0 0 rg BT 422.08 334.80 Td (election ) Tj ET Q q 0 0 0 rg BT 449.76 334.80 Td (of ) Tj ET Q q 0 0 0 rg BT 458.79 334.80 Td (directors ) Tj ET Q q 0 0 0 rg BT 489.14 334.80 Td (or ) Tj ET Q q 0 0 0 rg BT 498.17 334.80 Td (certain ) Tj ET Q q 0 0 0 rg BT 522.30 334.80 Td (transactions. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 325.20 Td (Following ) Tj ET Q q 0 0 0 rg BT 84.22 325.20 Td (the ) Tj ET Q q 0 0 0 rg BT 95.82 325.20 Td (issuance ) Tj ET Q q 0 0 0 rg BT 124.74 325.20 Td (of ) Tj ET Q q 0 0 0 rg BT 133.23 325.20 Td (the ) Tj ET Q q 0 0 0 rg BT 144.70 325.20 Td (TW) Tj ET Q q 0 0 0 rg BT 156.99 325.20 Td ( ) Tj ET Q q 0 0 0 rg BT 158.68 325.20 Td (W) Tj ET Q q 0 0 0 rg BT 165.59 325.20 Td (arrants, ) Tj ET Q q 0 0 0 rg BT 191.18 325.20 Td (the ) Tj ET Q q 0 0 0 rg BT 202.78 325.20 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 235.69 325.20 Td (economic ) Tj ET Q q 0 0 0 rg BT 268.62 325.20 Td (interest ) Tj ET Q q 0 0 0 rg BT 293.99 325.20 Td (of ) Tj ET Q q 0 0 0 rg BT 302.34 325.20 Td (T) Tj ET Q q 0 0 0 rg BT 306.95 325.20 Td (ime ) Tj ET Q q 0 0 0 rg BT 320.64 325.20 Td (W) Tj ET Q q 0 0 0 rg BT 327.55 325.20 Td (arner ) Tj ET Q q 0 0 0 rg BT 345.80 325.20 Td (in ) Tj ET Q q 0 0 0 rg BT 353.85 325.20 Td (us ) Tj ET Q q 0 0 0 rg BT 362.79 325.20 Td (is ) Tj ET Q q 0 0 0 rg BT 369.95 325.20 Td (approximately ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.98 325.20 Td (75.3%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.64 325.20 Td (, ) Tj ET Q q 0 0 0 rg BT 442.46 325.20 Td (\(without ) Tj ET Q q 0 0 0 rg BT 471.40 325.20 Td (giving ) Tj ET Q q 0 0 0 rg BT 493.67 325.20 Td (ef) Tj ET Q q 0 0 0 rg BT 499.74 325.20 Td (fect ) Tj ET Q q 0 0 0 rg BT 513.55 325.20 Td (to ) Tj ET Q q 0 0 0 rg BT 521.60 325.20 Td (the ) Tj ET Q q 0 0 0 rg BT 533.20 325.20 Td (accretion ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 315.60 Td (of ) Tj ET Q q 0 0 0 rg BT 58.43 315.60 Td (the ) Tj ET Q q 0 0 0 rg BT 70.48 315.60 Td (Series ) Tj ET Q q 0 0 0 rg BT 92.30 315.60 Td (B ) Tj ET Q q 0 0 0 rg BT 99.90 315.60 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 131.93 315.60 Td (Stock ) Tj ET Q q 0 0 0 rg BT 152.42 315.60 Td (after ) Tj ET Q q 0 0 0 rg BT 169.34 315.60 Td (December ) Tj ET Q q 0 0 0 rg BT 204.48 315.60 Td (31, ) Tj ET Q q 0 0 0 rg BT 216.75 315.60 Td (2014\). ) Tj ET Q q 0 0 0 rg BT 239.68 315.60 Td (Furthermore, ) Tj ET Q q 0 0 0 rg BT 283.94 315.60 Td (following ) Tj ET Q q 0 0 0 rg BT 317.32 315.60 Td (the ) Tj ET Q q 0 0 0 rg BT 329.36 315.60 Td (series ) Tj ET Q q 0 0 0 rg BT 349.85 315.60 Td (of ) Tj ET Q q 0 0 0 rg BT 358.78 315.60 Td (financing ) Tj ET Q q 0 0 0 rg BT 391.26 315.60 Td (transactions ) Tj ET Q q 0 0 0 rg BT 431.74 315.60 Td (conducted ) Tj ET Q q 0 0 0 rg BT 466.89 315.60 Td (in ) Tj ET Q q 0 0 0 rg BT 475.38 315.60 Td (2014, ) Tj ET Q q 0 0 0 rg BT 495.48 315.60 Td (T) Tj ET Q q 0 0 0 rg BT 500.09 315.60 Td (ime ) Tj ET Q q 0 0 0 rg BT 514.19 315.60 Td (W) Tj ET Q q 0 0 0 rg BT 521.10 315.60 Td (arner ) Tj ET Q q 0 0 0 rg BT 539.80 315.60 Td (has ) Tj ET Q q 0 0 0 rg BT 552.73 315.60 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 306.00 Td (right ) Tj ET Q q 0 0 0 rg BT 66.32 306.00 Td (to ) Tj ET Q q 0 0 0 rg BT 74.25 306.00 Td (appoint ) Tj ET Q q 0 0 0 rg BT 99.96 306.00 Td (one ) Tj ET Q q 0 0 0 rg BT 113.21 306.00 Td (less ) Tj ET Q q 0 0 0 rg BT 126.92 306.00 Td (than ) Tj ET Q q 0 0 0 rg BT 142.41 306.00 Td (the ) Tj ET Q q 0 0 0 rg BT 153.89 306.00 Td (number ) Tj ET Q q 0 0 0 rg BT 180.04 306.00 Td (required ) Tj ET Q q 0 0 0 rg BT 208.40 306.00 Td (to ) Tj ET Q q 0 0 0 rg BT 216.33 306.00 Td (constitute ) Tj ET Q q 0 0 0 rg BT 249.14 306.00 Td (a ) Tj ET Q q 0 0 0 rg BT 254.40 306.00 Td (majority ) Tj ET Q q 0 0 0 rg BT 283.22 306.00 Td (of ) Tj ET Q q 0 0 0 rg BT 291.59 306.00 Td (our ) Tj ET Q q 0 0 0 rg BT 303.96 306.00 Td (board ) Tj ET Q q 0 0 0 rg BT 323.89 306.00 Td (of ) Tj ET Q q 0 0 0 rg BT 332.26 306.00 Td (directors, ) Tj ET Q q 0 0 0 rg BT 363.96 306.00 Td (provided ) Tj ET Q q 0 0 0 rg BT 394.10 306.00 Td (that ) Tj ET Q q 0 0 0 rg BT 407.69 306.00 Td (T) Tj ET Q q 0 0 0 rg BT 412.29 306.00 Td (ime ) Tj ET Q q 0 0 0 rg BT 425.87 306.00 Td (W) Tj ET Q q 0 0 0 rg BT 432.78 306.00 Td (arner ) Tj ET Q q 0 0 0 rg BT 450.92 306.00 Td (continues ) Tj ET Q q 0 0 0 rg BT 483.29 306.00 Td (to ) Tj ET Q q 0 0 0 rg BT 491.22 306.00 Td (own ) Tj ET Q q 0 0 0 rg BT 506.71 306.00 Td (not ) Tj ET Q q 0 0 0 rg BT 518.64 306.00 Td (less ) Tj ET Q q 0 0 0 rg BT 532.35 306.00 Td (than ) Tj ET Q q 0 0 0 rg BT 547.83 306.00 Td (40% ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 296.40 Td (of ) Tj ET Q q 0 0 0 rg BT 58.60 296.40 Td (the ) Tj ET Q q 0 0 0 rg BT 70.81 296.40 Td (voting ) Tj ET Q q 0 0 0 rg BT 93.70 296.40 Td (power ) Tj ET Q q 0 0 0 rg BT 116.13 296.40 Td (of ) Tj ET Q q 0 0 0 rg BT 125.23 296.40 Td (the ) Tj ET Q q 0 0 0 rg BT 137.44 296.40 Td (Company) Tj ET Q q 0 0 0 rg BT 168.03 296.40 Td (. ) Tj ET Q q 0 0 0 rg BT 172.47 296.40 Td (In ) Tj ET Q q 0 0 0 rg BT 181.57 296.40 Td (addition, ) Tj ET Q q 0 0 0 rg BT 212.23 296.40 Td (we ) Tj ET Q q 0 0 0 rg BT 224.00 296.40 Td (are ) Tj ET Q q 0 0 0 rg BT 236.20 296.40 Td (party ) Tj ET Q q 0 0 0 rg BT 255.08 296.40 Td (to ) Tj ET Q q 0 0 0 rg BT 263.74 296.40 Td (an ) Tj ET Q q 0 0 0 rg BT 273.73 296.40 Td (amended ) Tj ET Q q 0 0 0 rg BT 305.04 296.40 Td (investor ) Tj ET Q q 0 0 0 rg BT 333.25 296.40 Td (rights ) Tj ET Q q 0 0 0 rg BT 353.92 296.40 Td (agreement ) Tj ET Q q 0 0 0 rg BT 389.67 296.40 Td (with ) Tj ET Q q 0 0 0 rg BT 406.15 296.40 Td (T) Tj ET Q q 0 0 0 rg BT 410.76 296.40 Td (ime ) Tj ET Q q 0 0 0 rg BT 425.01 296.40 Td (W) Tj ET Q q 0 0 0 rg BT 431.92 296.40 Td (arner ) Tj ET Q q 0 0 0 rg BT 450.79 296.40 Td (and ) Tj ET Q q 0 0 0 rg BT 464.78 296.40 Td (the ) Tj ET Q q 0 0 0 rg BT 476.99 296.40 Td (other ) Tj ET Q q 0 0 0 rg BT 495.87 296.40 Td (parties ) Tj ET Q q 0 0 0 rg BT 519.63 296.40 Td (thereto ) Tj ET Q q 0 0 0 rg BT 544.28 296.40 Td (under ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 286.80 Td (which, ) Tj ET Q q 0 0 0 rg BT 73.30 286.80 Td (among ) Tj ET Q q 0 0 0 rg BT 97.33 286.80 Td (other ) Tj ET Q q 0 0 0 rg BT 116.01 286.80 Td (things, ) Tj ET Q q 0 0 0 rg BT 139.66 286.80 Td (T) Tj ET Q q 0 0 0 rg BT 144.27 286.80 Td (ime ) Tj ET Q q 0 0 0 rg BT 158.35 286.80 Td (W) Tj ET Q q 0 0 0 rg BT 165.26 286.80 Td (arner ) Tj ET Q q 0 0 0 rg BT 183.94 286.80 Td (was ) Tj ET Q q 0 0 0 rg BT 198.63 286.80 Td (granted ) Tj ET Q q 0 0 0 rg BT 224.87 286.80 Td (a ) Tj ET Q q 0 0 0 rg BT 230.68 286.80 Td (contractual ) Tj ET Q q 0 0 0 rg BT 268.46 286.80 Td (preemptive ) Tj ET Q q 0 0 0 rg BT 306.70 286.80 Td (right ) Tj ET Q q 0 0 0 rg BT 324.06 286.80 Td (\(subject ) Tj ET Q q 0 0 0 rg BT 351.63 286.80 Td (to ) Tj ET Q q 0 0 0 rg BT 360.11 286.80 Td (certain ) Tj ET Q q 0 0 0 rg BT 384.12 286.80 Td (exclusions\) ) Tj ET Q q 0 0 0 rg BT 422.81 286.80 Td (with ) Tj ET Q q 0 0 0 rg BT 439.28 286.80 Td (respect ) Tj ET Q q 0 0 0 rg BT 464.18 286.80 Td (to ) Tj ET Q q 0 0 0 rg BT 472.66 286.80 Td (issuances ) Tj ET Q q 0 0 0 rg BT 505.12 286.80 Td (of ) Tj ET Q q 0 0 0 rg BT 514.04 286.80 Td (the ) Tj ET Q q 0 0 0 rg BT 526.06 286.80 Td (Company) Tj ET Q q 0 0 0 rg BT 559.40 286.80 Td (s ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 277.20 Td (equity ) Tj ET Q q 0 0 0 rg BT 71.93 277.20 Td (securities, ) Tj ET Q q 0 0 0 rg BT 106.57 277.20 Td (which ) Tj ET Q q 0 0 0 rg BT 128.55 277.20 Td (permits ) Tj ET Q q 0 0 0 rg BT 154.98 277.20 Td (it ) Tj ET Q q 0 0 0 rg BT 161.85 277.20 Td (to ) Tj ET Q q 0 0 0 rg BT 170.51 277.20 Td (maintain ) Tj ET Q q 0 0 0 rg BT 200.93 277.20 Td (its ) Tj ET Q q 0 0 0 rg BT 210.92 277.20 Td (pro ) Tj ET Q q 0 0 0 rg BT 224.01 277.20 Td (rata ) Tj ET Q q 0 0 0 rg BT 238.43 277.20 Td (economic ) Tj ET Q q 0 0 0 rg BT 271.96 277.20 Td (interest. ) Tj ET Q q 0 0 0 rg BT 299.94 277.20 Td (Under ) Tj ET Q q 0 0 0 rg BT 322.36 277.20 Td (Bermuda ) Tj ET Q q 0 0 0 rg BT 354.12 277.20 Td (law) Tj ET Q q 0 0 0 rg BT 365.15 277.20 Td (, ) Tj ET Q q 0 0 0 rg BT 369.58 277.20 Td (there ) Tj ET Q q 0 0 0 rg BT 388.00 277.20 Td (is ) Tj ET Q q 0 0 0 rg BT 395.76 277.20 Td (no ) Tj ET Q q 0 0 0 rg BT 406.19 277.20 Td (takeover ) Tj ET Q q 0 0 0 rg BT 436.16 277.20 Td (code ) Tj ET Q q 0 0 0 rg BT 453.70 277.20 Td (or ) Tj ET Q q 0 0 0 rg BT 462.79 277.20 Td (similar ) Tj ET Q q 0 0 0 rg BT 487.44 277.20 Td (legislation ) Tj ET Q q 0 0 0 rg BT 523.20 277.20 Td (requiring ) Tj ET Q q 0 0 0 rg BT 554.95 277.20 Td (an ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 267.60 Td (acquirer ) Tj ET Q q 0 0 0 rg BT 77.78 267.60 Td (of ) Tj ET Q q 0 0 0 rg BT 86.52 267.60 Td (a ) Tj ET Q q 0 0 0 rg BT 92.14 267.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 115.98 267.60 Td (percentage ) Tj ET Q q 0 0 0 rg BT 152.69 267.60 Td (of ) Tj ET Q q 0 0 0 rg BT 161.43 267.60 Td (our ) Tj ET Q q 0 0 0 rg BT 174.17 267.60 Td (Class ) Tj ET Q q 0 0 0 rg BT 193.12 267.60 Td (A) Tj ET Q q 0 0 0 rg BT 198.46 267.60 Td ( ) Tj ET Q q 0 0 0 rg BT 200.53 267.60 Td (Common ) Tj ET Q q 0 0 0 rg BT 232.39 267.60 Td (Stock ) Tj ET Q q 0 0 0 rg BT 252.68 267.60 Td (to ) Tj ET Q q 0 0 0 rg BT 260.98 267.60 Td (tender ) Tj ET Q q 0 0 0 rg BT 283.04 267.60 Td (for ) Tj ET Q q 0 0 0 rg BT 294.44 267.60 Td (the ) Tj ET Q q 0 0 0 rg BT 306.29 267.60 Td (remaining ) Tj ET Q q 0 0 0 rg BT 340.80 267.60 Td (publically ) Tj ET Q q 0 0 0 rg BT 374.87 267.60 Td (held ) Tj ET Q q 0 0 0 rg BT 390.71 267.60 Td (shares. ) Tj ET Q q 0 0 0 rg BT 414.78 267.60 Td (In ) Tj ET Q q 0 0 0 rg BT 423.52 267.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 447.35 267.60 Td (circumstances, ) Tj ET Q q 0 0 0 rg BT 496.74 267.60 Td (the ) Tj ET Q q 0 0 0 rg BT 508.59 267.60 Td (interests ) Tj ET Q q 0 0 0 rg BT 537.32 267.60 Td (of ) Tj ET Q q 0 0 0 rg BT 545.91 267.60 Td (T) Tj ET Q q 0 0 0 rg BT 550.52 267.60 Td (ime ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 258.00 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 258.00 Td (arner ) Tj ET Q q 0 0 0 rg BT 74.84 258.00 Td (as ) Tj ET Q q 0 0 0 rg BT 83.50 258.00 Td (our ) Tj ET Q q 0 0 0 rg BT 96.17 258.00 Td (lar) Tj ET Q q 0 0 0 rg BT 104.46 258.00 Td (gest ) Tj ET Q q 0 0 0 rg BT 119.35 258.00 Td (shareholder ) Tj ET Q q 0 0 0 rg BT 158.66 258.00 Td (could ) Tj ET Q q 0 0 0 rg BT 178.44 258.00 Td (be ) Tj ET Q q 0 0 0 rg BT 187.99 258.00 Td (in ) Tj ET Q q 0 0 0 rg BT 196.21 258.00 Td (conflict ) Tj ET Q q 0 0 0 rg BT 222.64 258.00 Td (with ) Tj ET Q q 0 0 0 rg BT 238.87 258.00 Td (the ) Tj ET Q q 0 0 0 rg BT 250.64 258.00 Td (interests ) Tj ET Q q 0 0 0 rg BT 279.30 258.00 Td (of ) Tj ET Q q 0 0 0 rg BT 287.96 258.00 Td (minority ) Tj ET Q q 0 0 0 rg BT 317.52 258.00 Td (shareholders.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 242.40 Td (Furthermore, ) Tj ET Q q 0 0 0 rg BT 93.59 242.40 Td (following ) Tj ET Q q 0 0 0 rg BT 126.81 242.40 Td (the ) Tj ET Q q 0 0 0 rg BT 138.68 242.40 Td (issuance ) Tj ET Q q 0 0 0 rg BT 167.89 242.40 Td (of ) Tj ET Q q 0 0 0 rg BT 176.66 242.40 Td (the ) Tj ET Q q 0 0 0 rg BT 188.54 242.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 206.64 242.40 Td (PIK ) Tj ET Q q 0 0 0 rg BT 221.64 242.40 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 244.41 242.40 Td (the ) Tj ET Q q 0 0 0 rg BT 256.28 242.40 Td (drawdown ) Tj ET Q q 0 0 0 rg BT 292.16 242.40 Td (of ) Tj ET Q q 0 0 0 rg BT 300.93 242.40 Td (the ) Tj ET Q q 0 0 0 rg BT 312.80 242.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 330.76 242.40 Td (T) Tj ET Q q 0 0 0 rg BT 335.08 242.40 Td (erm ) Tj ET Q q 0 0 0 rg BT 349.63 242.40 Td (Loan ) Tj ET Q q 0 0 0 rg BT 368.17 242.40 Td (and ) Tj ET Q q 0 0 0 rg BT 381.82 242.40 Td (the ) Tj ET Q q 0 0 0 rg BT 393.70 242.40 Td (issuance ) Tj ET Q q 0 0 0 rg BT 422.91 242.40 Td (of ) Tj ET Q q 0 0 0 rg BT 431.68 242.40 Td (the ) Tj ET Q q 0 0 0 rg BT 443.40 242.40 Td (TW) Tj ET Q q 0 0 0 rg BT 455.70 242.40 Td ( ) Tj ET Q q 0 0 0 rg BT 457.80 242.40 Td (Guarantee ) Tj ET Q q 0 0 0 rg BT 492.77 242.40 Td (in ) Tj ET Q q 0 0 0 rg BT 501.10 242.40 Td (respect ) Tj ET Q q 0 0 0 rg BT 525.86 242.40 Td (of ) Tj ET Q q 0 0 0 rg BT 534.62 242.40 Td (the ) Tj ET Q q 0 0 0 rg BT 546.50 242.40 Td (2017 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 232.80 Td (Euro ) Tj ET Q q 0 0 0 rg BT 67.31 232.80 Td (T) Tj ET Q q 0 0 0 rg BT 71.63 232.80 Td (erm ) Tj ET Q q 0 0 0 rg BT 86.50 232.80 Td (Loan, ) Tj ET Q q 0 0 0 rg BT 107.19 232.80 Td (T) Tj ET Q q 0 0 0 rg BT 111.80 232.80 Td (ime ) Tj ET Q q 0 0 0 rg BT 126.05 232.80 Td (W) Tj ET Q q 0 0 0 rg BT 132.96 232.80 Td (arner ) Tj ET Q q 0 0 0 rg BT 151.82 232.80 Td (is, ) Tj ET Q q 0 0 0 rg BT 161.59 232.80 Td (in ) Tj ET Q q 0 0 0 rg BT 170.24 232.80 Td (addition ) Tj ET Q q 0 0 0 rg BT 198.89 232.80 Td (to ) Tj ET Q q 0 0 0 rg BT 207.54 232.80 Td (being ) Tj ET Q q 0 0 0 rg BT 227.75 232.80 Td (our ) Tj ET Q q 0 0 0 rg BT 240.84 232.80 Td (lar) Tj ET Q q 0 0 0 rg BT 249.14 232.80 Td (gest ) Tj ET Q q 0 0 0 rg BT 264.45 232.80 Td (shareholder) Tj ET Q q 0 0 0 rg BT 301.45 232.80 Td (, ) Tj ET Q q 0 0 0 rg BT 305.88 232.80 Td (our ) Tj ET Q q 0 0 0 rg BT 318.97 232.80 Td (lar) Tj ET Q q 0 0 0 rg BT 327.27 232.80 Td (gest ) Tj ET Q q 0 0 0 rg BT 342.58 232.80 Td (secured ) Tj ET Q q 0 0 0 rg BT 369.45 232.80 Td (creditor) Tj ET Q q 0 0 0 rg BT 394.00 232.80 Td (, ) Tj ET Q q 0 0 0 rg BT 398.43 232.80 Td (as ) Tj ET Q q 0 0 0 rg BT 407.53 232.80 Td (it ) Tj ET Q q 0 0 0 rg BT 414.40 232.80 Td (holds ) Tj ET Q q 0 0 0 rg BT 434.17 232.80 Td (or ) Tj ET Q q 0 0 0 rg BT 443.26 232.80 Td (guarantees ) Tj ET Q q 0 0 0 rg BT 479.90 232.80 Td (68.9% ) Tj ET Q q 0 0 0 rg BT 502.99 232.80 Td (of ) Tj ET Q q 0 0 0 rg BT 512.09 232.80 Td (our ) Tj ET Q q 0 0 0 rg BT 525.18 232.80 Td (outstanding ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 223.20 Td (indebtedness ) Tj ET Q q 0 0 0 rg BT 92.58 223.20 Td (as ) Tj ET Q q 0 0 0 rg BT 100.99 223.20 Td (at ) Tj ET Q q 0 0 0 rg BT 108.52 223.20 Td (December ) Tj ET Q q 0 0 0 rg BT 143.14 223.20 Td (31, ) Tj ET Q q 0 0 0 rg BT 154.89 223.20 Td (2014. ) Tj ET Q q 0 0 0 rg BT 174.65 223.20 Td (Subject ) Tj ET Q q 0 0 0 rg BT 200.40 223.20 Td (to ) Tj ET Q q 0 0 0 rg BT 208.37 223.20 Td (certain ) Tj ET Q q 0 0 0 rg BT 231.89 223.20 Td (exceptions ) Tj ET Q q 0 0 0 rg BT 267.85 223.20 Td (under ) Tj ET Q q 0 0 0 rg BT 287.82 223.20 Td (the ) Tj ET Q q 0 0 0 rg BT 299.34 223.20 Td (indenture ) Tj ET Q q 0 0 0 rg BT 331.31 223.20 Td (for ) Tj ET Q q 0 0 0 rg BT 342.39 223.20 Td (the ) Tj ET Q q 0 0 0 rg BT 353.92 223.20 Td (2017 ) Tj ET Q q 0 0 0 rg BT 371.67 223.20 Td (PIK ) Tj ET Q q 0 0 0 rg BT 386.31 223.20 Td (Notes ) Tj ET Q q 0 0 0 rg BT 406.73 223.20 Td (that ) Tj ET Q q 0 0 0 rg BT 420.48 223.20 Td (limit ) Tj ET Q q 0 0 0 rg BT 437.22 223.20 Td (T) Tj ET Q q 0 0 0 rg BT 441.82 223.20 Td (ime ) Tj ET Q q 0 0 0 rg BT 455.45 223.20 Td (W) Tj ET Q q 0 0 0 rg BT 462.36 223.20 Td (arner) Tj ET Q q 0 0 0 rg BT 479.08 223.20 Td () Tj ET Q q 0 0 0 rg BT 481.30 223.20 Td (s ) Tj ET Q q 0 0 0 rg BT 486.17 223.20 Td (voting ) Tj ET Q q 0 0 0 rg BT 508.37 223.20 Td (rights ) Tj ET Q q 0 0 0 rg BT 528.34 223.20 Td (as ) Tj ET Q q 0 0 0 rg BT 536.76 223.20 Td (a ) Tj ET Q q 0 0 0 rg BT 542.07 223.20 Td (holder ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 213.60 Td (of ) Tj ET Q q 0 0 0 rg BT 58.20 213.60 Td (the ) Tj ET Q q 0 0 0 rg BT 70.02 213.60 Td (2017 ) Tj ET Q q 0 0 0 rg BT 88.06 213.60 Td (PIK ) Tj ET Q q 0 0 0 rg BT 102.99 213.60 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 125.54 213.60 Td (T) Tj ET Q q 0 0 0 rg BT 130.15 213.60 Td (ime ) Tj ET Q q 0 0 0 rg BT 144.04 213.60 Td (W) Tj ET Q q 0 0 0 rg BT 150.95 213.60 Td (arner ) Tj ET Q q 0 0 0 rg BT 169.42 213.60 Td (will ) Tj ET Q q 0 0 0 rg BT 183.90 213.60 Td (be ) Tj ET Q q 0 0 0 rg BT 193.50 213.60 Td (entitled ) Tj ET Q q 0 0 0 rg BT 219.53 213.60 Td (to ) Tj ET Q q 0 0 0 rg BT 227.79 213.60 Td (vote ) Tj ET Q q 0 0 0 rg BT 243.60 213.60 Td (or ) Tj ET Q q 0 0 0 rg BT 252.31 213.60 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 285.45 213.60 Td (make ) Tj ET Q q 0 0 0 rg BT 304.81 213.60 Td (decisions ) Tj ET Q q 0 0 0 rg BT 336.63 213.60 Td (in ) Tj ET Q q 0 0 0 rg BT 344.89 213.60 Td (its ) Tj ET Q q 0 0 0 rg BT 354.49 213.60 Td (capacity ) Tj ET Q q 0 0 0 rg BT 383.18 213.60 Td (as ) Tj ET Q q 0 0 0 rg BT 391.88 213.60 Td (a ) Tj ET Q q 0 0 0 rg BT 397.47 213.60 Td (holder ) Tj ET Q q 0 0 0 rg BT 419.95 213.60 Td (of ) Tj ET Q q 0 0 0 rg BT 428.65 213.60 Td (the ) Tj ET Q q 0 0 0 rg BT 440.47 213.60 Td (2017 ) Tj ET Q q 0 0 0 rg BT 458.51 213.60 Td (PIK ) Tj ET Q q 0 0 0 rg BT 473.44 213.60 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 496.14 213.60 Td (as ) Tj ET Q q 0 0 0 rg BT 504.85 213.60 Td (a ) Tj ET Q q 0 0 0 rg BT 510.44 213.60 Td (lender ) Tj ET Q q 0 0 0 rg BT 532.46 213.60 Td (under ) Tj ET Q q 0 0 0 rg BT 552.72 213.60 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 204.00 Td (2017 ) Tj ET Q q 0 0 0 rg BT 67.16 204.00 Td (T) Tj ET Q q 0 0 0 rg BT 71.49 204.00 Td (erm ) Tj ET Q q 0 0 0 rg BT 85.72 204.00 Td (Loan ) Tj ET Q q 0 0 0 rg BT 103.95 204.00 Td (and ) Tj ET Q q 0 0 0 rg BT 117.30 204.00 Td (the ) Tj ET Q q 0 0 0 rg BT 128.86 204.00 Td (2017 ) Tj ET Q q 0 0 0 rg BT 146.66 204.00 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 181.78 204.00 Td (Credit ) Tj ET Q q 0 0 0 rg BT 203.57 204.00 Td (Facility ) Tj ET Q q 0 0 0 rg BT 229.80 204.00 Td (or ) Tj ET Q q 0 0 0 rg BT 238.26 204.00 Td (as ) Tj ET Q q 0 0 0 rg BT 246.72 204.00 Td (a ) Tj ET Q q 0 0 0 rg BT 252.06 204.00 Td (guarantor ) Tj ET Q q 0 0 0 rg BT 284.51 204.00 Td (under ) Tj ET Q q 0 0 0 rg BT 304.52 204.00 Td (the ) Tj ET Q q 0 0 0 rg BT 316.08 204.00 Td (Reimbursement ) Tj ET Q q 0 0 0 rg BT 368.14 204.00 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 407.34 204.00 Td (The ) Tj ET Q q 0 0 0 rg BT 421.57 204.00 Td (2017 ) Tj ET Q q 0 0 0 rg BT 439.23 204.00 Td (T) Tj ET Q q 0 0 0 rg BT 443.56 204.00 Td (erm ) Tj ET Q q 0 0 0 rg BT 457.79 204.00 Td (Loan, ) Tj ET Q q 0 0 0 rg BT 478.02 204.00 Td (the ) Tj ET Q q 0 0 0 rg BT 489.59 204.00 Td (2017 ) Tj ET Q q 0 0 0 rg BT 507.38 204.00 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 542.51 204.00 Td (Credit ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 194.40 Td (Facility ) Tj ET Q q 0 0 0 rg BT 76.06 194.40 Td (and ) Tj ET Q q 0 0 0 rg BT 89.73 194.40 Td (the ) Tj ET Q q 0 0 0 rg BT 101.63 194.40 Td (Reimbursement ) Tj ET Q q 0 0 0 rg BT 153.94 194.40 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 191.60 194.40 Td (contain ) Tj ET Q q 0 0 0 rg BT 217.27 194.40 Td (maintenance ) Tj ET Q q 0 0 0 rg BT 259.81 194.40 Td (covenants ) Tj ET Q q 0 0 0 rg BT 293.92 194.40 Td (in ) Tj ET Q q 0 0 0 rg BT 302.26 194.40 Td (respect ) Tj ET Q q 0 0 0 rg BT 327.04 194.40 Td (of ) Tj ET Q q 0 0 0 rg BT 335.82 194.40 Td (interest ) Tj ET Q q 0 0 0 rg BT 361.49 194.40 Td (cover) Tj ET Q q 0 0 0 rg BT 378.93 194.40 Td (, ) Tj ET Q q 0 0 0 rg BT 383.06 194.40 Td (cash ) Tj ET Q q 0 0 0 rg BT 399.39 194.40 Td (flow ) Tj ET Q q 0 0 0 rg BT 416.18 194.40 Td (cover ) Tj ET Q q 0 0 0 rg BT 436.06 194.40 Td (and ) Tj ET Q q 0 0 0 rg BT 449.73 194.40 Td (total ) Tj ET Q q 0 0 0 rg BT 466.07 194.40 Td (leverage ) Tj ET Q q 0 0 0 rg BT 495.29 194.40 Td (ratios ) Tj ET Q q 0 0 0 rg BT 515.18 194.40 Td (and ) Tj ET Q q 0 0 0 rg BT 528.85 194.40 Td (have ) Tj ET Q q 0 0 0 rg BT 546.07 194.40 Td (more ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 184.80 Td (restrictive ) Tj ET Q q 0 0 0 rg BT 83.88 184.80 Td (provisions ) Tj ET Q q 0 0 0 rg BT 119.61 184.80 Td (than ) Tj ET Q q 0 0 0 rg BT 135.77 184.80 Td (equivalent ) Tj ET Q q 0 0 0 rg BT 171.48 184.80 Td (provisions ) Tj ET Q q 0 0 0 rg BT 207.21 184.80 Td (contained ) Tj ET Q q 0 0 0 rg BT 240.70 184.80 Td (in ) Tj ET Q q 0 0 0 rg BT 249.32 184.80 Td (the ) Tj ET Q q 0 0 0 rg BT 261.48 184.80 Td (indenture ) Tj ET Q q 0 0 0 rg BT 294.09 184.80 Td (governing ) Tj ET Q q 0 0 0 rg BT 328.92 184.80 Td (the ) Tj ET Q q 0 0 0 rg BT 341.08 184.80 Td (2017 ) Tj ET Q q 0 0 0 rg BT 359.48 184.80 Td (PIK ) Tj ET Q q 0 0 0 rg BT 374.76 184.80 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 397.82 184.80 Td (including ) Tj ET Q q 0 0 0 rg BT 430.43 184.80 Td (covenants ) Tj ET Q q 0 0 0 rg BT 464.81 184.80 Td (in ) Tj ET Q q 0 0 0 rg BT 473.42 184.80 Td (respect ) Tj ET Q q 0 0 0 rg BT 498.47 184.80 Td (of ) Tj ET Q q 0 0 0 rg BT 507.53 184.80 Td (the ) Tj ET Q q 0 0 0 rg BT 519.69 184.80 Td (incurrence ) Tj ET Q q 0 0 0 rg BT 555.84 184.80 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 175.20 Td (indebtedness ) Tj ET Q q 0 0 0 rg BT 92.83 175.20 Td (\(including ) Tj ET Q q 0 0 0 rg BT 127.71 175.20 Td (refinancing ) Tj ET Q q 0 0 0 rg BT 166.14 175.20 Td (indebtedness\), ) Tj ET Q q 0 0 0 rg BT 214.13 175.20 Td (the ) Tj ET Q q 0 0 0 rg BT 225.90 175.20 Td (provision ) Tj ET Q q 0 0 0 rg BT 258.13 175.20 Td (of ) Tj ET Q q 0 0 0 rg BT 266.79 175.20 Td (guarantees, ) Tj ET Q q 0 0 0 rg BT 305.00 175.20 Td (making ) Tj ET Q q 0 0 0 rg BT 331.00 175.20 Td (investments ) Tj ET Q q 0 0 0 rg BT 371.22 175.20 Td (and ) Tj ET Q q 0 0 0 rg BT 384.77 175.20 Td (granting ) Tj ET Q q 0 0 0 rg BT 413.43 175.20 Td (security ) Tj ET Q q 0 0 0 rg BT 440.76 175.20 Td (and ) Tj ET Q q 0 0 0 rg BT 454.31 175.20 Td (certain ) Tj ET Q q 0 0 0 rg BT 478.08 175.20 Td (events ) Tj ET Q q 0 0 0 rg BT 500.52 175.20 Td (of ) Tj ET Q q 0 0 0 rg BT 509.18 175.20 Td (default. ) Tj ET Q q 0 0 0 rg BT 534.95 175.20 Td (As ) Tj ET Q q 0 0 0 rg BT 545.85 175.20 Td (such, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 165.60 Td (T) Tj ET Q q 0 0 0 rg BT 54.11 165.60 Td (ime ) Tj ET Q q 0 0 0 rg BT 68.07 165.60 Td (W) Tj ET Q q 0 0 0 rg BT 74.98 165.60 Td (arner ) Tj ET Q q 0 0 0 rg BT 93.54 165.60 Td (may ) Tj ET Q q 0 0 0 rg BT 109.44 165.60 Td (be ) Tj ET Q q 0 0 0 rg BT 119.12 165.60 Td (in ) Tj ET Q q 0 0 0 rg BT 127.46 165.60 Td (a ) Tj ET Q q 0 0 0 rg BT 133.14 165.60 Td (position ) Tj ET Q q 0 0 0 rg BT 161.05 165.60 Td (to ) Tj ET Q q 0 0 0 rg BT 169.40 165.60 Td (determine ) Tj ET Q q 0 0 0 rg BT 203.51 165.60 Td (whether ) Tj ET Q q 0 0 0 rg BT 231.40 165.60 Td (to ) Tj ET Q q 0 0 0 rg BT 239.75 165.60 Td (permit ) Tj ET Q q 0 0 0 rg BT 262.76 165.60 Td (transactions, ) Tj ET Q q 0 0 0 rg BT 305.09 165.60 Td (waive ) Tj ET Q q 0 0 0 rg BT 326.32 165.60 Td (defaults ) Tj ET Q q 0 0 0 rg BT 353.77 165.60 Td (or ) Tj ET Q q 0 0 0 rg BT 362.56 165.60 Td (accelerate ) Tj ET Q q 0 0 0 rg BT 396.65 165.60 Td (such ) Tj ET Q q 0 0 0 rg BT 413.44 165.60 Td (indebtedness ) Tj ET Q q 0 0 0 rg BT 456.89 165.60 Td (or ) Tj ET Q q 0 0 0 rg BT 465.68 165.60 Td (take ) Tj ET Q q 0 0 0 rg BT 481.13 165.60 Td (other ) Tj ET Q q 0 0 0 rg BT 499.70 165.60 Td (steps ) Tj ET Q q 0 0 0 rg BT 517.82 165.60 Td (in ) Tj ET Q q 0 0 0 rg BT 526.17 165.60 Td (its ) Tj ET Q q 0 0 0 rg BT 535.85 165.60 Td (capacity ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 156.00 Td (as ) Tj ET Q q 0 0 0 rg BT 58.02 156.00 Td (a ) Tj ET Q q 0 0 0 rg BT 63.42 156.00 Td (secured ) Tj ET Q q 0 0 0 rg BT 89.71 156.00 Td (creditor ) Tj ET Q q 0 0 0 rg BT 116.43 156.00 Td (in ) Tj ET Q q 0 0 0 rg BT 124.51 156.00 Td (a ) Tj ET Q q 0 0 0 rg BT 129.91 156.00 Td (manner ) Tj ET Q q 0 0 0 rg BT 155.76 156.00 Td (that ) Tj ET Q q 0 0 0 rg BT 169.61 156.00 Td (might ) Tj ET Q q 0 0 0 rg BT 190.13 156.00 Td (not ) Tj ET Q q 0 0 0 rg BT 202.20 156.00 Td (be ) Tj ET Q q 0 0 0 rg BT 211.61 156.00 Td (consistent ) Tj ET Q q 0 0 0 rg BT 245.46 156.00 Td (with ) Tj ET Q q 0 0 0 rg BT 261.53 156.00 Td (the ) Tj ET Q q 0 0 0 rg BT 273.16 156.00 Td (interests ) Tj ET Q q 0 0 0 rg BT 301.67 156.00 Td (of ) Tj ET Q q 0 0 0 rg BT 310.19 156.00 Td (the ) Tj ET Q q 0 0 0 rg BT 321.82 156.00 Td (holders ) Tj ET Q q 0 0 0 rg BT 347.22 156.00 Td (of ) Tj ET Q q 0 0 0 rg BT 355.74 156.00 Td (our ) Tj ET Q q 0 0 0 rg BT 368.26 156.00 Td (Class ) Tj ET Q q 0 0 0 rg BT 387.04 156.00 Td (A) Tj ET Q q 0 0 0 rg BT 392.37 156.00 Td ( ) Tj ET Q q 0 0 0 rg BT 394.23 156.00 Td (Common ) Tj ET Q q 0 0 0 rg BT 425.86 156.00 Td (Stock ) Tj ET Q q 0 0 0 rg BT 445.94 156.00 Td (or ) Tj ET Q q 0 0 0 rg BT 454.46 156.00 Td (other ) Tj ET Q q 0 0 0 rg BT 472.75 156.00 Td (holders ) Tj ET Q q 0 0 0 rg BT 498.15 156.00 Td (of ) Tj ET Q q 0 0 0 rg BT 506.67 156.00 Td (our ) Tj ET Q q 0 0 0 rg BT 519.19 156.00 Td (indebtedness.) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 140.40 Td (The ) Tj ET Q q 0 0 0 rg BT 64.39 140.40 Td (price ) Tj ET Q q 0 0 0 rg BT 82.82 140.40 Td (of ) Tj ET Q q 0 0 0 rg BT 91.49 140.40 Td (our ) Tj ET Q q 0 0 0 rg BT 105.05 140.40 Td (Class ) Tj ET Q q 0 0 0 rg BT 124.54 140.40 Td (A) Tj ET Q q 0 0 0 rg BT 129.43 140.40 Td ( ) Tj ET Q q 0 0 0 rg BT 131.43 140.40 Td (common ) Tj ET Q q 0 0 0 rg BT 161.88 140.40 Td (stock ) Tj ET Q q 0 0 0 rg BT 180.77 140.40 Td (is ) Tj ET Q q 0 0 0 rg BT 188.10 140.40 Td (likely ) Tj ET Q q 0 0 0 rg BT 207.87 140.40 Td (to ) Tj ET Q q 0 0 0 rg BT 216.09 140.40 Td (remain ) Tj ET Q q 0 0 0 rg BT 241.65 140.40 Td (volatile.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 124.80 Td (The ) Tj ET Q q 0 0 0 rg BT 64.14 124.80 Td (market ) Tj ET Q q 0 0 0 rg BT 88.55 124.80 Td (price ) Tj ET Q q 0 0 0 rg BT 106.73 124.80 Td (of ) Tj ET Q q 0 0 0 rg BT 115.60 124.80 Td (shares ) Tj ET Q q 0 0 0 rg BT 137.79 124.80 Td (of ) Tj ET Q q 0 0 0 rg BT 146.65 124.80 Td (our ) Tj ET Q q 0 0 0 rg BT 159.52 124.80 Td (Class ) Tj ET Q q 0 0 0 rg BT 178.57 124.80 Td (A) Tj ET Q q 0 0 0 rg BT 183.90 124.80 Td ( ) Tj ET Q q 0 0 0 rg BT 186.10 124.80 Td (common ) Tj ET Q q 0 0 0 rg BT 216.30 124.80 Td (stock ) Tj ET Q q 0 0 0 rg BT 235.38 124.80 Td (may ) Tj ET Q q 0 0 0 rg BT 251.35 124.80 Td (be ) Tj ET Q q 0 0 0 rg BT 261.10 124.80 Td (influenced ) Tj ET Q q 0 0 0 rg BT 297.07 124.80 Td (by ) Tj ET Q q 0 0 0 rg BT 307.26 124.80 Td (many ) Tj ET Q q 0 0 0 rg BT 327.24 124.80 Td (factors, ) Tj ET Q q 0 0 0 rg BT 353.20 124.80 Td (some ) Tj ET Q q 0 0 0 rg BT 372.29 124.80 Td (of ) Tj ET Q q 0 0 0 rg BT 381.15 124.80 Td (which ) Tj ET Q q 0 0 0 rg BT 402.90 124.80 Td (are ) Tj ET Q q 0 0 0 rg BT 414.87 124.80 Td (beyond ) Tj ET Q q 0 0 0 rg BT 440.62 124.80 Td (our ) Tj ET Q q 0 0 0 rg BT 453.48 124.80 Td (control, ) Tj ET Q q 0 0 0 rg BT 480.34 124.80 Td (including ) Tj ET Q q 0 0 0 rg BT 512.76 124.80 Td (those ) Tj ET Q q 0 0 0 rg BT 531.84 124.80 Td (described ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 115.20 Td (above ) Tj ET Q q 0 0 0 rg BT 70.55 115.20 Td (under ) Tj ET Q q 0 0 0 rg BT 90.72 115.20 Td (Risks ) Tj ET Q q 0 0 0 rg BT 114.01 115.20 Td (Relating ) Tj ET Q q 0 0 0 rg BT 143.06 115.20 Td (to ) Tj ET Q q 0 0 0 rg BT 151.24 115.20 Td (Our ) Tj ET Q q 0 0 0 rg BT 165.63 115.20 Td (Operations ) Tj ET Q q 0 0 0 rg BT 206.23 115.20 Td (as ) Tj ET Q q 0 0 0 rg BT 214.85 115.20 Td (well ) Tj ET Q q 0 0 0 rg BT 230.57 115.20 Td (as ) Tj ET Q q 0 0 0 rg BT 239.19 115.20 Td (the ) Tj ET Q q 0 0 0 rg BT 250.91 115.20 Td (following: ) Tj ET Q q 0 0 0 rg BT 286.20 115.20 Td (general ) Tj ET Q q 0 0 0 rg BT 311.69 115.20 Td (economic ) Tj ET Q q 0 0 0 rg BT 344.73 115.20 Td (and ) Tj ET Q q 0 0 0 rg BT 358.24 115.20 Td (business ) Tj ET Q q 0 0 0 rg BT 387.30 115.20 Td (trends, ) Tj ET Q q 0 0 0 rg BT 410.80 115.20 Td (variations ) Tj ET Q q 0 0 0 rg BT 444.30 115.20 Td (in ) Tj ET Q q 0 0 0 rg BT 452.47 115.20 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 483.30 115.20 Td (operating ) Tj ET Q q 0 0 0 rg BT 515.46 115.20 Td (results, ) Tj ET Q q 0 0 0 rg BT 540.30 115.20 Td (license ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 105.60 Td (renewals, ) Tj ET Q q 0 0 0 rg BT 81.77 105.60 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 116.48 105.60 Td (developments ) Tj ET Q q 0 0 0 rg BT 162.76 105.60 Td (in ) Tj ET Q q 0 0 0 rg BT 170.82 105.60 Td (our ) Tj ET Q q 0 0 0 rg BT 183.32 105.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 215.38 105.60 Td (countries ) Tj ET Q q 0 0 0 rg BT 246.54 105.60 Td (and ) Tj ET Q q 0 0 0 rg BT 259.93 105.60 Td (the ) Tj ET Q q 0 0 0 rg BT 271.54 105.60 Td (European ) Tj ET Q q 0 0 0 rg BT 304.04 105.60 Td (Union, ) Tj ET Q q 0 0 0 rg BT 327.88 105.60 Td (the ) Tj ET Q q 0 0 0 rg BT 339.49 105.60 Td (condition ) Tj ET Q q 0 0 0 rg BT 371.55 105.60 Td (of ) Tj ET Q q 0 0 0 rg BT 380.05 105.60 Td (the ) Tj ET Q q 0 0 0 rg BT 391.66 105.60 Td (media ) Tj ET Q q 0 0 0 rg BT 413.05 105.60 Td (industry ) Tj ET Q q 0 0 0 rg BT 441.11 105.60 Td (in ) Tj ET Q q 0 0 0 rg BT 449.18 105.60 Td (our ) Tj ET Q q 0 0 0 rg BT 461.68 105.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 493.73 105.60 Td (countries, ) Tj ET Q q 0 0 0 rg BT 526.89 105.60 Td (the ) Tj ET Q q 0 0 0 rg BT 538.51 105.60 Td (volume ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 96.00 Td (of ) Tj ET Q q 0 0 0 rg BT 58.05 96.00 Td (trading ) Tj ET Q q 0 0 0 rg BT 82.60 96.00 Td (in ) Tj ET Q q 0 0 0 rg BT 90.70 96.00 Td (shares ) Tj ET Q q 0 0 0 rg BT 112.58 96.00 Td (of ) Tj ET Q q 0 0 0 rg BT 121.13 96.00 Td (our ) Tj ET Q q 0 0 0 rg BT 133.68 96.00 Td (Class ) Tj ET Q q 0 0 0 rg BT 152.49 96.00 Td (A) Tj ET Q q 0 0 0 rg BT 157.82 96.00 Td ( ) Tj ET Q q 0 0 0 rg BT 159.71 96.00 Td (common ) Tj ET Q q 0 0 0 rg BT 189.59 96.00 Td (stock, ) Tj ET Q q 0 0 0 rg BT 210.36 96.00 Td (future ) Tj ET Q q 0 0 0 rg BT 231.35 96.00 Td (issuances ) Tj ET Q q 0 0 0 rg BT 263.45 96.00 Td (of ) Tj ET Q q 0 0 0 rg BT 272.00 96.00 Td (shares ) Tj ET Q q 0 0 0 rg BT 293.88 96.00 Td (of ) Tj ET Q q 0 0 0 rg BT 302.43 96.00 Td (our ) Tj ET Q q 0 0 0 rg BT 314.98 96.00 Td (Class ) Tj ET Q q 0 0 0 rg BT 333.78 96.00 Td (A) Tj ET Q q 0 0 0 rg BT 339.12 96.00 Td ( ) Tj ET Q q 0 0 0 rg BT 341.01 96.00 Td (common ) Tj ET Q q 0 0 0 rg BT 370.89 96.00 Td (stock ) Tj ET Q q 0 0 0 rg BT 389.66 96.00 Td (and ) Tj ET Q q 0 0 0 rg BT 403.10 96.00 Td (investors) Tj ET Q q 0 0 0 rg BT 434.05 96.00 Td ( ) Tj ET Q q 0 0 0 rg BT 435.94 96.00 Td (and ) Tj ET Q q 0 0 0 rg BT 449.38 96.00 Td (securities ) Tj ET Q q 0 0 0 rg BT 481.47 96.00 Td (analysts) Tj ET Q q 0 0 0 rg BT 509.32 96.00 Td ( ) Tj ET Q q 0 0 0 rg BT 511.20 96.00 Td (perception ) Tj ET Q q 0 0 0 rg BT 546.85 96.00 Td (of ) Tj ET Q q 0 0 0 rg BT 555.40 96.00 Td (us ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 86.40 Td (and ) Tj ET Q q 0 0 0 rg BT 63.67 86.40 Td (other ) Tj ET Q q 0 0 0 rg BT 82.73 86.40 Td (companies ) Tj ET Q q 0 0 0 rg BT 119.56 86.40 Td (that ) Tj ET Q q 0 0 0 rg BT 134.17 86.40 Td (investors ) Tj ET Q q 0 0 0 rg BT 165.68 86.40 Td (or ) Tj ET Q q 0 0 0 rg BT 174.96 86.40 Td (securities ) Tj ET Q q 0 0 0 rg BT 207.79 86.40 Td (analysts ) Tj ET Q q 0 0 0 rg BT 236.18 86.40 Td (deem ) Tj ET Q q 0 0 0 rg BT 256.13 86.40 Td (comparable ) Tj ET Q q 0 0 0 rg BT 296.06 86.40 Td (in ) Tj ET Q q 0 0 0 rg BT 304.90 86.40 Td (the ) Tj ET Q q 0 0 0 rg BT 317.29 86.40 Td (television ) Tj ET Q q 0 0 0 rg BT 351.02 86.40 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 394.51 86.40 Td (industry) Tj ET Q q 0 0 0 rg BT 420.21 86.40 Td (. ) Tj ET Q q 0 0 0 rg BT 424.83 86.40 Td (In ) Tj ET Q q 0 0 0 rg BT 434.12 86.40 Td (addition, ) Tj ET Q q 0 0 0 rg BT 464.96 86.40 Td (stock ) Tj ET Q q 0 0 0 rg BT 484.46 86.40 Td (markets ) Tj ET Q q 0 0 0 rg BT 512.40 86.40 Td (in ) Tj ET Q q 0 0 0 rg BT 521.25 86.40 Td (general ) Tj ET Q q 0 0 0 rg BT 547.40 86.40 Td (have ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 76.80 Td (experienced ) Tj ET Q q 0 0 0 rg BT 89.66 76.80 Td (extreme ) Tj ET Q q 0 0 0 rg BT 116.93 76.80 Td (price ) Tj ET Q q 0 0 0 rg BT 134.44 76.80 Td (and ) Tj ET Q q 0 0 0 rg BT 147.50 76.80 Td (volume ) Tj ET Q q 0 0 0 rg BT 173.02 76.80 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 212.30 76.80 Td (that ) Tj ET Q q 0 0 0 rg BT 225.81 76.80 Td (have ) Tj ET Q q 0 0 0 rg BT 242.43 76.80 Td (often ) Tj ET Q q 0 0 0 rg BT 260.38 76.80 Td (been ) Tj ET Q q 0 0 0 rg BT 277.00 76.80 Td (unrelated ) Tj ET Q q 0 0 0 rg BT 308.28 76.80 Td (to ) Tj ET Q q 0 0 0 rg BT 316.02 76.80 Td (and ) Tj ET Q q 0 0 0 rg BT 329.08 76.80 Td (disproportionate ) Tj ET Q q 0 0 0 rg BT 383.03 76.80 Td (to ) Tj ET Q q 0 0 0 rg BT 390.77 76.80 Td (the ) Tj ET Q q 0 0 0 rg BT 402.06 76.80 Td (operating ) Tj ET Q q 0 0 0 rg BT 433.79 76.80 Td (performance ) Tj ET Q q 0 0 0 rg BT 475.72 76.80 Td (of ) Tj ET Q q 0 0 0 rg BT 483.90 76.80 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 526.29 76.80 Td (companies. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 67.20 Td (These ) Tj ET Q q 0 0 0 rg BT 70.39 67.20 Td (broad ) Tj ET Q q 0 0 0 rg BT 90.39 67.20 Td (market ) Tj ET Q q 0 0 0 rg BT 114.39 67.20 Td (and ) Tj ET Q q 0 0 0 rg BT 127.73 67.20 Td (industry ) Tj ET Q q 0 0 0 rg BT 155.74 67.20 Td (factors ) Tj ET Q q 0 0 0 rg BT 179.29 67.20 Td (may ) Tj ET Q q 0 0 0 rg BT 194.86 67.20 Td (materially ) Tj ET Q q 0 0 0 rg BT 229.07 67.20 Td (reduce ) Tj ET Q q 0 0 0 rg BT 252.18 67.20 Td (the ) Tj ET Q q 0 0 0 rg BT 263.74 67.20 Td (market ) Tj ET Q q 0 0 0 rg BT 287.74 67.20 Td (price ) Tj ET Q q 0 0 0 rg BT 305.52 67.20 Td (of ) Tj ET Q q 0 0 0 rg BT 313.97 67.20 Td (shares ) Tj ET Q q 0 0 0 rg BT 335.75 67.20 Td (of ) Tj ET Q q 0 0 0 rg BT 344.20 67.20 Td (our ) Tj ET Q q 0 0 0 rg BT 356.65 67.20 Td (Class ) Tj ET Q q 0 0 0 rg BT 375.38 67.20 Td (A) Tj ET Q q 0 0 0 rg BT 380.72 67.20 Td ( ) Tj ET Q q 0 0 0 rg BT 382.51 67.20 Td (common ) Tj ET Q q 0 0 0 rg BT 412.29 67.20 Td (stock, ) Tj ET Q q 0 0 0 rg BT 432.96 67.20 Td (regardless ) Tj ET Q q 0 0 0 rg BT 467.18 67.20 Td (of ) Tj ET Q q 0 0 0 rg BT 475.63 67.20 Td (our ) Tj ET Q q 0 0 0 rg BT 488.09 67.20 Td (operating ) Tj ET Q q 0 0 0 rg BT 520.09 67.20 Td (performance.) Tj ET Q endstream endobj 35 0 obj <>] /Rotate 0 /Contents 36 0 R>> endobj 36 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (15) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 723.60 Td (ITEM ) Tj ET Q q 0 0 0 rg BT 72.84 723.60 Td (1B. ) Tj ET Q q 0 0 0 rg BT 94.50 723.60 Td (UNRE) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 117.17 723.60 Td (SOL) Tj ET Q q 0 0 0 rg BT 132.44 723.60 Td (VED ) Tj ET Q q 0 0 0 rg BT 151.33 723.60 Td (ST) Tj ET Q q 0 0 0 rg BT 160.52 723.60 Td (AFF) Tj ET Q q 0 0 0 rg BT 175.78 723.60 Td ( ) Tj ET Q q 0 0 0 rg BT 177.78 723.60 Td (COMMEN) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 215.99 723.60 Td (TS) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 708.00 Td (None.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 686.40 Td (ITEM 2. ) Tj ET Q q 0 0 0 rg BT 94.50 686.40 Td (PROPER) Tj ET Q q 0 0 0 rg BT 127.11 686.40 Td (TIES) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 670.80 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 670.80 Td (e ) Tj ET Q q 0 0 0 rg BT 61.59 670.80 Td (own ) Tj ET Q q 0 0 0 rg BT 77.00 670.80 Td (and ) Tj ET Q q 0 0 0 rg BT 90.18 670.80 Td (lease ) Tj ET Q q 0 0 0 rg BT 107.80 670.80 Td (properties ) Tj ET Q q 0 0 0 rg BT 141.42 670.80 Td (in ) Tj ET Q q 0 0 0 rg BT 149.27 670.80 Td (the ) Tj ET Q q 0 0 0 rg BT 160.68 670.80 Td (countries ) Tj ET Q q 0 0 0 rg BT 191.63 670.80 Td (in ) Tj ET Q q 0 0 0 rg BT 199.49 670.80 Td (which ) Tj ET Q q 0 0 0 rg BT 220.67 670.80 Td (we ) Tj ET Q q 0 0 0 rg BT 231.63 670.80 Td (operate. ) Tj ET Q q 0 0 0 rg BT 258.68 670.80 Td (These ) Tj ET Q q 0 0 0 rg BT 279.41 670.80 Td (facilities ) Tj ET Q q 0 0 0 rg BT 308.59 670.80 Td (are ) Tj ET Q q 0 0 0 rg BT 319.98 670.80 Td (fully ) Tj ET Q q 0 0 0 rg BT 336.72 670.80 Td (utilized ) Tj ET Q q 0 0 0 rg BT 362.35 670.80 Td (for ) Tj ET Q q 0 0 0 rg BT 373.30 670.80 Td (current ) Tj ET Q q 0 0 0 rg BT 397.59 670.80 Td (operations, ) Tj ET Q q 0 0 0 rg BT 434.54 670.80 Td (are ) Tj ET Q q 0 0 0 rg BT 445.94 670.80 Td (in ) Tj ET Q q 0 0 0 rg BT 453.79 670.80 Td (good ) Tj ET Q q 0 0 0 rg BT 471.42 670.80 Td (condition ) Tj ET Q q 0 0 0 rg BT 503.27 670.80 Td (and ) Tj ET Q q 0 0 0 rg BT 516.45 670.80 Td (are ) Tj ET Q q 0 0 0 rg BT 527.85 670.80 Td (adequately ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 661.20 Td (equipped ) Tj ET Q q 0 0 0 rg BT 80.49 661.20 Td (for ) Tj ET Q q 0 0 0 rg BT 91.48 661.20 Td (purposes ) Tj ET Q q 0 0 0 rg BT 121.59 661.20 Td (of ) Tj ET Q q 0 0 0 rg BT 129.91 661.20 Td (conducting ) Tj ET Q q 0 0 0 rg BT 167.13 661.20 Td (broadcasting, ) Tj ET Q q 0 0 0 rg BT 211.66 661.20 Td (content ) Tj ET Q q 0 0 0 rg BT 236.88 661.20 Td (production ) Tj ET Q q 0 0 0 rg BT 273.20 661.20 Td (or ) Tj ET Q q 0 0 0 rg BT 281.53 661.20 Td (such ) Tj ET Q q 0 0 0 rg BT 297.86 661.20 Td (other ) Tj ET Q q 0 0 0 rg BT 315.96 661.20 Td (operations ) Tj ET Q q 0 0 0 rg BT 350.95 661.20 Td (as ) Tj ET Q q 0 0 0 rg BT 359.27 661.20 Td (we ) Tj ET Q q 0 0 0 rg BT 370.27 661.20 Td (require. ) Tj ET Q q 0 0 0 rg BT 396.46 661.20 Td (W) Tj ET Q q 0 0 0 rg BT 403.37 661.20 Td (e ) Tj ET Q q 0 0 0 rg BT 408.59 661.20 Td (believe ) Tj ET Q q 0 0 0 rg BT 433.35 661.20 Td (that ) Tj ET Q q 0 0 0 rg BT 447.01 661.20 Td (suitable ) Tj ET Q q 0 0 0 rg BT 473.56 661.20 Td (additional ) Tj ET Q q 0 0 0 rg BT 507.21 661.20 Td (space ) Tj ET Q q 0 0 0 rg BT 526.64 661.20 Td (is ) Tj ET Q q 0 0 0 rg BT 533.64 661.20 Td (available ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 651.60 Td (on ) Tj ET Q q 0 0 0 rg BT 59.50 651.60 Td (acceptable ) Tj ET Q q 0 0 0 rg BT 95.25 651.60 Td (terms ) Tj ET Q q 0 0 0 rg BT 115.02 651.60 Td (in ) Tj ET Q q 0 0 0 rg BT 123.25 651.60 Td (the ) Tj ET Q q 0 0 0 rg BT 135.02 651.60 Td (event ) Tj ET Q q 0 0 0 rg BT 154.34 651.60 Td (of ) Tj ET Q q 0 0 0 rg BT 163.01 651.60 Td (an ) Tj ET Q q 0 0 0 rg BT 172.56 651.60 Td (expansion ) Tj ET Q q 0 0 0 rg BT 207.00 651.60 Td (of ) Tj ET Q q 0 0 0 rg BT 215.66 651.60 Td (our ) Tj ET Q q 0 0 0 rg BT 228.32 651.60 Td (businesses. ) Tj ET Q q 0 0 0 rg BT 265.96 651.60 Td (The ) Tj ET Q q 0 0 0 rg BT 280.39 651.60 Td (table ) Tj ET Q q 0 0 0 rg BT 297.94 651.60 Td (below ) Tj ET Q q 0 0 0 rg BT 319.49 651.60 Td (provides ) Tj ET Q q 0 0 0 rg BT 349.04 651.60 Td (a ) Tj ET Q q 0 0 0 rg BT 354.59 651.60 Td (brief ) Tj ET Q q 0 0 0 rg BT 371.70 651.60 Td (description ) Tj ET Q q 0 0 0 rg BT 409.24 651.60 Td (of ) Tj ET Q q 0 0 0 rg BT 417.91 651.60 Td (our ) Tj ET Q q 0 0 0 rg BT 430.57 651.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 466.34 651.60 Td (properties.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 625.10 160.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 209.50 625.10 10.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 625.10 160.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 625.10 10.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 625.10 172.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 599.10 160.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 209.50 599.10 10.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 599.10 160.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 599.10 10.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 599.10 172.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 573.10 160.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 209.50 573.10 10.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 573.10 160.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 573.10 10.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 573.10 172.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 539.10 160.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 209.50 539.10 10.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 539.10 160.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 539.10 10.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 539.10 172.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 625.1 m 209.5 625.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 625.1 m 379.5 625.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 625.1 m 561.5 625.1 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 630.18 Td (Location) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 222.00 630.18 Td (Property) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 392.00 630.18 Td (Use) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 617.05 Td (Hamilton, Bermuda) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 222.00 617.05 Td (Leased office) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.00 617.05 Td (Registered office, Corporate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 604.05 Td (Amsterdam, The Netherlands) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 222.00 604.05 Td (Leased office) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.00 604.05 Td (Corporate office, Corporate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 591.05 Td (Sofia, Bulgaria) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 222.00 591.05 Td (Leased buildings) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.00 591.05 Td (Office and studio space \(Bulgaria segment\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 578.05 Td (Zagreb, Croatia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 222.00 578.05 Td (Owned and leased buildings) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.00 578.05 Td (Office and studio space \(Croatia segment\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 565.05 Td (Prague, Czech Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 222.00 565.05 Td (Owned and leased buildings) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.00 565.05 Td (Administrative center) Tj ET Q q 0 0 0 rg BT 461.21 565.05 Td (, Corporate;) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.00 557.05 Td (Of) Tj ET Q q 0 0 0 rg BT 400.30 557.05 Td (fice and studio space \(Czech Republic segment\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 544.05 Td (Bucharest and other cities within Romania) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 222.00 544.05 Td (Owned and leased buildings) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.00 544.05 Td (Office and studio space \(Romania segment\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 531.05 Td (Bratislava, Slovak Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 222.00 531.05 Td (Owned buildings) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.00 531.05 Td (Office and studio space \(Slovak Republic segment\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 518.05 Td (Ljubljana, Slovenia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 222.00 518.05 Td (Owned and leased buildings) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.00 518.05 Td (Office and studio space \(Slovenia segment\)) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 498.00 Td (For ) Tj ET Q q 0 0 0 rg BT 62.61 498.00 Td (further ) Tj ET Q q 0 0 0 rg BT 86.38 498.00 Td (information ) Tj ET Q q 0 0 0 rg BT 126.15 498.00 Td (on ) Tj ET Q q 0 0 0 rg BT 136.15 498.00 Td (the ) Tj ET Q q 0 0 0 rg BT 147.92 498.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 164.14 498.00 Td (resources ) Tj ET Q q 0 0 0 rg BT 196.34 498.00 Td (that ) Tj ET Q q 0 0 0 rg BT 210.34 498.00 Td (fund ) Tj ET Q q 0 0 0 rg BT 227.00 498.00 Td (these ) Tj ET Q q 0 0 0 rg BT 245.44 498.00 Td (facility-related ) Tj ET Q q 0 0 0 rg BT 294.52 498.00 Td (costs, ) Tj ET Q q 0 0 0 rg BT 314.52 498.00 Td (see ) Tj ET Q q 0 0 0 rg BT 326.74 498.00 Td (Part ) Tj ET Q q 0 0 0 rg BT 341.63 498.00 Td (II, ) Tj ET Q q 0 0 0 rg BT 350.95 498.00 Td (Item ) Tj ET Q q 0 0 0 rg BT 367.61 498.00 Td (7, ) Tj ET Q q 0 0 0 rg BT 375.61 498.00 Td (III, ) Tj ET Q q 0 0 0 rg BT 387.61 498.00 Td ("Liquidity ) Tj ET Q q 0 0 0 rg BT 422.65 498.00 Td (and ) Tj ET Q q 0 0 0 rg BT 436.20 498.00 Td (Capital ) Tj ET Q q 0 0 0 rg BT 461.30 498.00 Td (Resources.") Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 482.40 Td (ITEM ) Tj ET Q q 0 0 0 rg BT 72.84 482.40 Td (3. ) Tj ET Q q 0 0 0 rg BT 94.50 482.40 Td (LEGAL) Tj ET Q q 0 0 0 rg BT 122.07 482.40 Td ( ) Tj ET Q q 0 0 0 rg BT 124.07 482.40 Td (PROCEEDINGS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 466.80 Td (General) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 451.20 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 451.20 Td (e ) Tj ET Q q 0 0 0 rg BT 61.76 451.20 Td (are ) Tj ET Q q 0 0 0 rg BT 73.32 451.20 Td (from ) Tj ET Q q 0 0 0 rg BT 90.67 451.20 Td (time ) Tj ET Q q 0 0 0 rg BT 106.68 451.20 Td (to ) Tj ET Q q 0 0 0 rg BT 114.70 451.20 Td (time ) Tj ET Q q 0 0 0 rg BT 130.72 451.20 Td (party ) Tj ET Q q 0 0 0 rg BT 148.95 451.20 Td (to ) Tj ET Q q 0 0 0 rg BT 156.97 451.20 Td (legal ) Tj ET Q q 0 0 0 rg BT 174.32 451.20 Td (proceedings, ) Tj ET Q q 0 0 0 rg BT 216.77 451.20 Td (arbitrations ) Tj ET Q q 0 0 0 rg BT 255.00 451.20 Td (and ) Tj ET Q q 0 0 0 rg BT 268.34 451.20 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 303.02 451.20 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 343.46 451.20 Td (arising ) Tj ET Q q 0 0 0 rg BT 367.04 451.20 Td (in ) Tj ET Q q 0 0 0 rg BT 375.05 451.20 Td (the ) Tj ET Q q 0 0 0 rg BT 386.63 451.20 Td (normal ) Tj ET Q q 0 0 0 rg BT 411.08 451.20 Td (course ) Tj ET Q q 0 0 0 rg BT 433.76 451.20 Td (of ) Tj ET Q q 0 0 0 rg BT 442.22 451.20 Td (our ) Tj ET Q q 0 0 0 rg BT 454.68 451.20 Td (business ) Tj ET Q q 0 0 0 rg BT 483.59 451.20 Td (operations, ) Tj ET Q q 0 0 0 rg BT 520.71 451.20 Td (including ) Tj ET Q q 0 0 0 rg BT 552.73 451.20 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 441.60 Td (proceeding ) Tj ET Q q 0 0 0 rg BT 87.41 441.60 Td (described ) Tj ET Q q 0 0 0 rg BT 120.43 441.60 Td (below) Tj ET Q q 0 0 0 rg BT 139.46 441.60 Td (. ) Tj ET Q q 0 0 0 rg BT 143.65 441.60 Td (W) Tj ET Q q 0 0 0 rg BT 150.56 441.60 Td (e ) Tj ET Q q 0 0 0 rg BT 156.48 441.60 Td (evaluate, ) Tj ET Q q 0 0 0 rg BT 187.50 441.60 Td (on ) Tj ET Q q 0 0 0 rg BT 197.86 441.60 Td (a ) Tj ET Q q 0 0 0 rg BT 203.78 441.60 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 235.02 441.60 Td (basis, ) Tj ET Q q 0 0 0 rg BT 255.39 441.60 Td (developments ) Tj ET Q q 0 0 0 rg BT 302.19 441.60 Td (in ) Tj ET Q q 0 0 0 rg BT 310.78 441.60 Td (such ) Tj ET Q q 0 0 0 rg BT 327.81 441.60 Td (matters ) Tj ET Q q 0 0 0 rg BT 353.73 441.60 Td (and ) Tj ET Q q 0 0 0 rg BT 367.65 441.60 Td (provide ) Tj ET Q q 0 0 0 rg BT 394.45 441.60 Td (accruals ) Tj ET Q q 0 0 0 rg BT 423.02 441.60 Td (for ) Tj ET Q q 0 0 0 rg BT 434.72 441.60 Td (such ) Tj ET Q q 0 0 0 rg BT 451.75 441.60 Td (matters, ) Tj ET Q q 0 0 0 rg BT 479.66 441.60 Td (as ) Tj ET Q q 0 0 0 rg BT 488.69 441.60 Td (appropriate. ) Tj ET Q q 0 0 0 rg BT 529.49 441.60 Td (In ) Tj ET Q q 0 0 0 rg BT 538.52 441.60 Td (making ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 432.00 Td (such ) Tj ET Q q 0 0 0 rg BT 65.42 432.00 Td (decisions, ) Tj ET Q q 0 0 0 rg BT 98.45 432.00 Td (we ) Tj ET Q q 0 0 0 rg BT 109.03 432.00 Td (consider ) Tj ET Q q 0 0 0 rg BT 137.39 432.00 Td (the ) Tj ET Q q 0 0 0 rg BT 148.42 432.00 Td (degree ) Tj ET Q q 0 0 0 rg BT 170.99 432.00 Td (of ) Tj ET Q q 0 0 0 rg BT 178.91 432.00 Td (probability ) Tj ET Q q 0 0 0 rg BT 215.27 432.00 Td (of ) Tj ET Q q 0 0 0 rg BT 223.19 432.00 Td (an ) Tj ET Q q 0 0 0 rg BT 232.00 432.00 Td (unfavorable ) Tj ET Q q 0 0 0 rg BT 271.46 432.00 Td (outcome ) Tj ET Q q 0 0 0 rg BT 300.26 432.00 Td (and ) Tj ET Q q 0 0 0 rg BT 313.07 432.00 Td (our ) Tj ET Q q 0 0 0 rg BT 324.99 432.00 Td (ability ) Tj ET Q q 0 0 0 rg BT 346.69 432.00 Td (to ) Tj ET Q q 0 0 0 rg BT 354.16 432.00 Td (make ) Tj ET Q q 0 0 0 rg BT 372.74 432.00 Td (a ) Tj ET Q q 0 0 0 rg BT 377.55 432.00 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 413.01 432.00 Td (estimate ) Tj ET Q q 0 0 0 rg BT 440.92 432.00 Td (of ) Tj ET Q q 0 0 0 rg BT 448.84 432.00 Td (the ) Tj ET Q q 0 0 0 rg BT 459.87 432.00 Td (amount ) Tj ET Q q 0 0 0 rg BT 485.12 432.00 Td (of ) Tj ET Q q 0 0 0 rg BT 493.04 432.00 Td (a ) Tj ET Q q 0 0 0 rg BT 497.85 432.00 Td (loss. ) Tj ET Q q 0 0 0 rg BT 513.28 432.00 Td (An ) Tj ET Q q 0 0 0 rg BT 524.31 432.00 Td (unfavorable ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 422.40 Td (outcome ) Tj ET Q q 0 0 0 rg BT 79.05 422.40 Td (in ) Tj ET Q q 0 0 0 rg BT 87.27 422.40 Td (any ) Tj ET Q q 0 0 0 rg BT 100.82 422.40 Td (such ) Tj ET Q q 0 0 0 rg BT 117.48 422.40 Td (proceedings, ) Tj ET Q q 0 0 0 rg BT 160.14 422.40 Td (if ) Tj ET Q q 0 0 0 rg BT 167.02 422.40 Td (material, ) Tj ET Q q 0 0 0 rg BT 197.23 422.40 Td (could ) Tj ET Q q 0 0 0 rg BT 217.00 422.40 Td (have ) Tj ET Q q 0 0 0 rg BT 234.11 422.40 Td (an ) Tj ET Q q 0 0 0 rg BT 243.66 422.40 Td (adverse ) Tj ET Q q 0 0 0 rg BT 270.09 422.40 Td (ef) Tj ET Q q 0 0 0 rg BT 276.16 422.40 Td (fect ) Tj ET Q q 0 0 0 rg BT 290.14 422.40 Td (on ) Tj ET Q q 0 0 0 rg BT 300.14 422.40 Td (our ) Tj ET Q q 0 0 0 rg BT 312.81 422.40 Td (business ) Tj ET Q q 0 0 0 rg BT 341.92 422.40 Td (or ) Tj ET Q q 0 0 0 rg BT 350.59 422.40 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 393.02 422.40 Td (financial ) Tj ET Q q 0 0 0 rg BT 423.00 422.40 Td (statements.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 403.80 Td (MPS ) Tj ET Q q 0 0 0 rg BT 67.05 403.80 Td (and ) Tj ET Q q 0 0 0 rg BT 81.05 403.80 Td (MPE ) Tj ET Q q 0 0 0 rg BT 99.49 403.80 Td (Investigations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 388.20 Td (The ) Tj ET Q q 0 0 0 rg BT 63.84 388.20 Td (prosecutors) Tj ET Q q 0 0 0 rg BT 102.79 388.20 Td ( ) Tj ET Q q 0 0 0 rg BT 104.70 388.20 Td (of) Tj ET Q q 0 0 0 rg BT 111.22 388.20 Td (fice ) Tj ET Q q 0 0 0 rg BT 125.11 388.20 Td (with ) Tj ET Q q 0 0 0 rg BT 141.24 388.20 Td (the ) Tj ET Q q 0 0 0 rg BT 152.92 388.20 Td (Bucharest ) Tj ET Q q 0 0 0 rg BT 186.68 388.20 Td (T) Tj ET Q q 0 0 0 rg BT 191.28 388.20 Td (ribunal ) Tj ET Q q 0 0 0 rg BT 215.85 388.20 Td (is ) Tj ET Q q 0 0 0 rg BT 223.09 388.20 Td (investigating ) Tj ET Q q 0 0 0 rg BT 266.33 388.20 Td (certain ) Tj ET Q q 0 0 0 rg BT 290.00 388.20 Td (suppliers ) Tj ET Q q 0 0 0 rg BT 320.79 388.20 Td (of ) Tj ET Q q 0 0 0 rg BT 329.36 388.20 Td (the ) Tj ET Q q 0 0 0 rg BT 341.04 388.20 Td (Company) Tj ET Q q 0 0 0 rg BT 374.37 388.20 Td (s ) Tj ET Q q 0 0 0 rg BT 379.39 388.20 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 419.07 388.20 Td (SC ) Tj ET Q q 0 0 0 rg BT 430.76 388.20 Td (Mediapro ) Tj ET Q q 0 0 0 rg BT 463.77 388.20 Td (Studiorile ) Tj ET Q q 0 0 0 rg BT 497.23 388.20 Td (SA) Tj ET Q q 0 0 0 rg BT 507.01 388.20 Td ( ) Tj ET Q q 0 0 0 rg BT 508.92 388.20 Td (\(MPS\) ) Tj ET Q q 0 0 0 rg BT 539.27 388.20 Td (and ) Tj ET Q q 0 0 0 rg BT 552.73 388.20 Td (SC ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 378.60 Td (Media ) Tj ET Q q 0 0 0 rg BT 72.50 378.60 Td (Pro ) Tj ET Q q 0 0 0 rg BT 86.18 378.60 Td (Entertainment ) Tj ET Q q 0 0 0 rg BT 134.06 378.60 Td (Romania ) Tj ET Q q 0 0 0 rg BT 165.50 378.60 Td (SA) Tj ET Q q 0 0 0 rg BT 175.29 378.60 Td ( ) Tj ET Q q 0 0 0 rg BT 177.85 378.60 Td (\(MPE\) ) Tj ET Q q 0 0 0 rg BT 209.29 378.60 Td (as ) Tj ET Q q 0 0 0 rg BT 218.52 378.60 Td (well ) Tj ET Q q 0 0 0 rg BT 234.86 378.60 Td (as ) Tj ET Q q 0 0 0 rg BT 244.09 378.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 268.41 378.60 Td (current ) Tj ET Q q 0 0 0 rg BT 293.63 378.60 Td (and ) Tj ET Q q 0 0 0 rg BT 307.74 378.60 Td (former ) Tj ET Q q 0 0 0 rg BT 332.07 378.60 Td (employees ) Tj ET Q q 0 0 0 rg BT 368.85 378.60 Td (of ) Tj ET Q q 0 0 0 rg BT 378.07 378.60 Td (MPS ) Tj ET Q q 0 0 0 rg BT 396.65 378.60 Td (on ) Tj ET Q q 0 0 0 rg BT 407.21 378.60 Td (suspicion ) Tj ET Q q 0 0 0 rg BT 440.00 378.60 Td (of ) Tj ET Q q 0 0 0 rg BT 449.23 378.60 Td (tax ) Tj ET Q q 0 0 0 rg BT 461.56 378.60 Td (evasion ) Tj ET Q q 0 0 0 rg BT 488.56 378.60 Td (and ) Tj ET Q q 0 0 0 rg BT 502.68 378.60 Td (related ) Tj ET Q q 0 0 0 rg BT 527.00 378.60 Td (char) Tj ET Q q 0 0 0 rg BT 540.62 378.60 Td (ges. ) Tj ET Q q 0 0 0 rg BT 555.85 378.60 Td (In ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 369.00 Td (connection ) Tj ET Q q 0 0 0 rg BT 86.55 369.00 Td (with ) Tj ET Q q 0 0 0 rg BT 102.72 369.00 Td (those ) Tj ET Q q 0 0 0 rg BT 121.56 369.00 Td (investigations, ) Tj ET Q q 0 0 0 rg BT 169.96 369.00 Td (the ) Tj ET Q q 0 0 0 rg BT 181.68 369.00 Td (division ) Tj ET Q q 0 0 0 rg BT 209.42 369.00 Td (of ) Tj ET Q q 0 0 0 rg BT 218.03 369.00 Td (the ) Tj ET Q q 0 0 0 rg BT 229.76 369.00 Td (Bucharest ) Tj ET Q q 0 0 0 rg BT 263.70 369.00 Td (police ) Tj ET Q q 0 0 0 rg BT 285.20 369.00 Td (responsible ) Tj ET Q q 0 0 0 rg BT 323.59 369.00 Td (for ) Tj ET Q q 0 0 0 rg BT 334.87 369.00 Td (economic ) Tj ET Q q 0 0 0 rg BT 367.92 369.00 Td (crimes, ) Tj ET Q q 0 0 0 rg BT 393.19 369.00 Td (acting ) Tj ET Q q 0 0 0 rg BT 414.69 369.00 Td (under ) Tj ET Q q 0 0 0 rg BT 434.86 369.00 Td (the ) Tj ET Q q 0 0 0 rg BT 446.58 369.00 Td (instruction ) Tj ET Q q 0 0 0 rg BT 482.76 369.00 Td (of ) Tj ET Q q 0 0 0 rg BT 491.37 369.00 Td (the ) Tj ET Q q 0 0 0 rg BT 503.10 369.00 Td (prosecutors) Tj ET Q q 0 0 0 rg BT 542.05 369.00 Td ( ) Tj ET Q q 0 0 0 rg BT 544.00 369.00 Td (of) Tj ET Q q 0 0 0 rg BT 550.52 369.00 Td (fice ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 359.40 Td (with ) Tj ET Q q 0 0 0 rg BT 65.64 359.40 Td (the ) Tj ET Q q 0 0 0 rg BT 77.34 359.40 Td (Bucharest ) Tj ET Q q 0 0 0 rg BT 111.11 359.40 Td (T) Tj ET Q q 0 0 0 rg BT 115.71 359.40 Td (ribunal, ) Tj ET Q q 0 0 0 rg BT 142.29 359.40 Td (conducted ) Tj ET Q q 0 0 0 rg BT 177.09 359.40 Td (searches ) Tj ET Q q 0 0 0 rg BT 206.11 359.40 Td (of ) Tj ET Q q 0 0 0 rg BT 214.69 359.40 Td (the ) Tj ET Q q 0 0 0 rg BT 226.38 359.40 Td (premises ) Tj ET Q q 0 0 0 rg BT 256.74 359.40 Td (of ) Tj ET Q q 0 0 0 rg BT 265.33 359.40 Td (MPS ) Tj ET Q q 0 0 0 rg BT 283.26 359.40 Td (and ) Tj ET Q q 0 0 0 rg BT 296.73 359.40 Td (MPE ) Tj ET Q q 0 0 0 rg BT 315.10 359.40 Td (and ) Tj ET Q q 0 0 0 rg BT 328.57 359.40 Td (the ) Tj ET Q q 0 0 0 rg BT 340.27 359.40 Td (private ) Tj ET Q q 0 0 0 rg BT 364.40 359.40 Td (residences ) Tj ET Q q 0 0 0 rg BT 399.64 359.40 Td (of ) Tj ET Q q 0 0 0 rg BT 408.22 359.40 Td (a ) Tj ET Q q 0 0 0 rg BT 413.69 359.40 Td (number ) Tj ET Q q 0 0 0 rg BT 440.05 359.40 Td (of ) Tj ET Q q 0 0 0 rg BT 448.64 359.40 Td (members ) Tj ET Q q 0 0 0 rg BT 479.88 359.40 Td (of ) Tj ET Q q 0 0 0 rg BT 488.47 359.40 Td (the ) Tj ET Q q 0 0 0 rg BT 500.16 359.40 Td (senior ) Tj ET Q q 0 0 0 rg BT 521.63 359.40 Td (management ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 349.80 Td (of ) Tj ET Q q 0 0 0 rg BT 58.39 349.80 Td (MPS ) Tj ET Q q 0 0 0 rg BT 76.64 349.80 Td (as ) Tj ET Q q 0 0 0 rg BT 85.53 349.80 Td (well ) Tj ET Q q 0 0 0 rg BT 101.54 349.80 Td (as ) Tj ET Q q 0 0 0 rg BT 110.43 349.80 Td (certain ) Tj ET Q q 0 0 0 rg BT 134.42 349.80 Td (other ) Tj ET Q q 0 0 0 rg BT 153.09 349.80 Td (current ) Tj ET Q q 0 0 0 rg BT 177.97 349.80 Td (and ) Tj ET Q q 0 0 0 rg BT 191.75 349.80 Td (former ) Tj ET Q q 0 0 0 rg BT 215.75 349.80 Td (employees ) Tj ET Q q 0 0 0 rg BT 252.19 349.80 Td (of ) Tj ET Q q 0 0 0 rg BT 261.09 349.80 Td (MPS ) Tj ET Q q 0 0 0 rg BT 279.33 349.80 Td (and ) Tj ET Q q 0 0 0 rg BT 293.11 349.80 Td (MPE ) Tj ET Q q 0 0 0 rg BT 311.79 349.80 Td (in ) Tj ET Q q 0 0 0 rg BT 320.24 349.80 Td (December ) Tj ET Q q 0 0 0 rg BT 355.34 349.80 Td (2014. ) Tj ET Q q 0 0 0 rg BT 375.41 349.80 Td (These ) Tj ET Q q 0 0 0 rg BT 396.74 349.80 Td (searches ) Tj ET Q q 0 0 0 rg BT 426.07 349.80 Td (followed ) Tj ET Q q 0 0 0 rg BT 456.73 349.80 Td (more ) Tj ET Q q 0 0 0 rg BT 475.40 349.80 Td (limited ) Tj ET Q q 0 0 0 rg BT 500.30 349.80 Td (searches ) Tj ET Q q 0 0 0 rg BT 529.62 349.80 Td (conducted ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 340.20 Td (earlier ) Tj ET Q q 0 0 0 rg BT 71.43 340.20 Td (in ) Tj ET Q q 0 0 0 rg BT 79.17 340.20 Td (2014. ) Tj ET Q q 0 0 0 rg BT 98.67 340.20 Td (In ) Tj ET Q q 0 0 0 rg BT 106.85 340.20 Td (addition, ) Tj ET Q q 0 0 0 rg BT 136.58 340.20 Td (certain ) Tj ET Q q 0 0 0 rg BT 159.85 340.20 Td (members ) Tj ET Q q 0 0 0 rg BT 190.68 340.20 Td (of ) Tj ET Q q 0 0 0 rg BT 198.85 340.20 Td (senior ) Tj ET Q q 0 0 0 rg BT 219.91 340.20 Td (management ) Tj ET Q q 0 0 0 rg BT 262.29 340.20 Td (of ) Tj ET Q q 0 0 0 rg BT 270.46 340.20 Td (MPS ) Tj ET Q q 0 0 0 rg BT 287.98 340.20 Td (\(including ) Tj ET Q q 0 0 0 rg BT 322.38 340.20 Td (its ) Tj ET Q q 0 0 0 rg BT 331.44 340.20 Td (then ) Tj ET Q q 0 0 0 rg BT 346.73 340.20 Td (general ) Tj ET Q q 0 0 0 rg BT 371.77 340.20 Td (director) Tj ET Q q 0 0 0 rg BT 396.33 340.20 Td (, ) Tj ET Q q 0 0 0 rg BT 399.84 340.20 Td (finance ) Tj ET Q q 0 0 0 rg BT 424.88 340.20 Td (director) Tj ET Q q 0 0 0 rg BT 449.44 340.20 Td (, ) Tj ET Q q 0 0 0 rg BT 452.95 340.20 Td (chief ) Tj ET Q q 0 0 0 rg BT 470.45 340.20 Td (operating ) Tj ET Q q 0 0 0 rg BT 502.17 340.20 Td (of) Tj ET Q q 0 0 0 rg BT 508.68 340.20 Td (ficer) Tj ET Q q 0 0 0 rg BT 523.02 340.20 Td (, ) Tj ET Q q 0 0 0 rg BT 526.53 340.20 Td (operational ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 330.60 Td (manager ) Tj ET Q q 0 0 0 rg BT 78.85 330.60 Td (and ) Tj ET Q q 0 0 0 rg BT 92.21 330.60 Td (head ) Tj ET Q q 0 0 0 rg BT 109.12 330.60 Td (of ) Tj ET Q q 0 0 0 rg BT 117.59 330.60 Td (human ) Tj ET Q q 0 0 0 rg BT 141.18 330.60 Td (resources\) ) Tj ET Q q 0 0 0 rg BT 175.86 330.60 Td (as ) Tj ET Q q 0 0 0 rg BT 184.33 330.60 Td (well ) Tj ET Q q 0 0 0 rg BT 199.91 330.60 Td (as ) Tj ET Q q 0 0 0 rg BT 208.39 330.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 231.96 330.60 Td (of ) Tj ET Q q 0 0 0 rg BT 240.43 330.60 Td (its ) Tj ET Q q 0 0 0 rg BT 249.80 330.60 Td (current ) Tj ET Q q 0 0 0 rg BT 274.26 330.60 Td (and ) Tj ET Q q 0 0 0 rg BT 287.62 330.60 Td (former ) Tj ET Q q 0 0 0 rg BT 311.20 330.60 Td (employees ) Tj ET Q q 0 0 0 rg BT 347.22 330.60 Td (were ) Tj ET Q q 0 0 0 rg BT 364.57 330.60 Td (arrested ) Tj ET Q q 0 0 0 rg BT 391.70 330.60 Td (in ) Tj ET Q q 0 0 0 rg BT 399.73 330.60 Td (December ) Tj ET Q q 0 0 0 rg BT 434.41 330.60 Td (or ) Tj ET Q q 0 0 0 rg BT 442.88 330.60 Td (were ) Tj ET Q q 0 0 0 rg BT 460.23 330.60 Td (detained ) Tj ET Q q 0 0 0 rg BT 489.14 330.60 Td (under ) Tj ET Q q 0 0 0 rg BT 509.16 330.60 Td (preventive ) Tj ET Q q 0 0 0 rg BT 544.74 330.60 Td (arrest ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 321.00 Td (measures. ) Tj ET Q q 0 0 0 rg BT 82.76 321.00 Td (All ) Tj ET Q q 0 0 0 rg BT 94.91 321.00 Td (of ) Tj ET Q q 0 0 0 rg BT 103.49 321.00 Td (them ) Tj ET Q q 0 0 0 rg BT 121.41 321.00 Td (other ) Tj ET Q q 0 0 0 rg BT 139.77 321.00 Td (than ) Tj ET Q q 0 0 0 rg BT 155.46 321.00 Td (the ) Tj ET Q q 0 0 0 rg BT 167.16 321.00 Td (two ) Tj ET Q q 0 0 0 rg BT 181.08 321.00 Td (former ) Tj ET Q q 0 0 0 rg BT 204.76 321.00 Td (general ) Tj ET Q q 0 0 0 rg BT 230.22 321.00 Td (directors ) Tj ET Q q 0 0 0 rg BT 260.13 321.00 Td (of ) Tj ET Q q 0 0 0 rg BT 268.72 321.00 Td (MPS ) Tj ET Q q 0 0 0 rg BT 286.65 321.00 Td (have ) Tj ET Q q 0 0 0 rg BT 303.67 321.00 Td (been ) Tj ET Q q 0 0 0 rg BT 320.69 321.00 Td (released ) Tj ET Q q 0 0 0 rg BT 348.82 321.00 Td (from ) Tj ET Q q 0 0 0 rg BT 366.29 321.00 Td (detention ) Tj ET Q q 0 0 0 rg BT 397.98 321.00 Td (although ) Tj ET Q q 0 0 0 rg BT 427.90 321.00 Td (they ) Tj ET Q q 0 0 0 rg BT 443.59 321.00 Td (remain ) Tj ET Q q 0 0 0 rg BT 467.72 321.00 Td (subject ) Tj ET Q q 0 0 0 rg BT 492.30 321.00 Td (to ) Tj ET Q q 0 0 0 rg BT 500.45 321.00 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 537.92 321.00 Td (on ) Tj ET Q q 0 0 0 rg BT 547.84 321.00 Td (their ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 311.40 Td (freedom ) Tj ET Q q 0 0 0 rg BT 78.14 311.40 Td (of ) Tj ET Q q 0 0 0 rg BT 86.79 311.40 Td (movement ) Tj ET Q q 0 0 0 rg BT 122.54 311.40 Td (and ) Tj ET Q q 0 0 0 rg BT 136.08 311.40 Td (communication. ) Tj ET Q q 0 0 0 rg BT 189.40 311.40 Td (Although ) Tj ET Q q 0 0 0 rg BT 221.60 311.40 Td (the ) Tj ET Q q 0 0 0 rg BT 233.36 311.40 Td (investigation ) Tj ET Q q 0 0 0 rg BT 276.68 311.40 Td (is ) Tj ET Q q 0 0 0 rg BT 284.00 311.40 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 312.21 311.40 Td (and ) Tj ET Q q 0 0 0 rg BT 325.75 311.40 Td (no ) Tj ET Q q 0 0 0 rg BT 335.73 311.40 Td (formal ) Tj ET Q q 0 0 0 rg BT 359.04 311.40 Td (char) Tj ET Q q 0 0 0 rg BT 372.67 311.40 Td (ges ) Tj ET Q q 0 0 0 rg BT 385.32 311.40 Td (have ) Tj ET Q q 0 0 0 rg BT 402.40 311.40 Td (been ) Tj ET Q q 0 0 0 rg BT 419.49 311.40 Td (brought, ) Tj ET Q q 0 0 0 rg BT 448.36 311.40 Td (we ) Tj ET Q q 0 0 0 rg BT 459.68 311.40 Td (understand ) Tj ET Q q 0 0 0 rg BT 496.77 311.40 Td (the ) Tj ET Q q 0 0 0 rg BT 508.53 311.40 Td (Bucharest ) Tj ET Q q 0 0 0 rg BT 542.50 311.40 Td (public ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 301.80 Td (prosecutor) Tj ET Q q 0 0 0 rg BT 83.56 301.80 Td () Tj ET Q q 0 0 0 rg BT 85.79 301.80 Td (s ) Tj ET Q q 0 0 0 rg BT 90.76 301.80 Td (of) Tj ET Q q 0 0 0 rg BT 97.28 301.80 Td (fice ) Tj ET Q q 0 0 0 rg BT 111.14 301.80 Td (is ) Tj ET Q q 0 0 0 rg BT 118.34 301.80 Td (investigating ) Tj ET Q q 0 0 0 rg BT 161.53 301.80 Td (approximately ) Tj ET Q q 0 0 0 rg BT 209.60 301.80 Td (22 ) Tj ET Q q 0 0 0 rg BT 219.47 301.80 Td (companies ) Tj ET Q q 0 0 0 rg BT 255.54 301.80 Td (purportedly ) Tj ET Q q 0 0 0 rg BT 294.73 301.80 Td (supplying ) Tj ET Q q 0 0 0 rg BT 328.16 301.80 Td (services ) Tj ET Q q 0 0 0 rg BT 355.79 301.80 Td (to ) Tj ET Q q 0 0 0 rg BT 363.88 301.80 Td (MPS ) Tj ET Q q 0 0 0 rg BT 381.75 301.80 Td (on ) Tj ET Q q 0 0 0 rg BT 391.62 301.80 Td (suspicion ) Tj ET Q q 0 0 0 rg BT 423.71 301.80 Td (of ) Tj ET Q q 0 0 0 rg BT 432.24 301.80 Td (invoicing ) Tj ET Q q 0 0 0 rg BT 464.32 301.80 Td (MPS ) Tj ET Q q 0 0 0 rg BT 482.20 301.80 Td (for ) Tj ET Q q 0 0 0 rg BT 493.39 301.80 Td (services ) Tj ET Q q 0 0 0 rg BT 521.02 301.80 Td (that ) Tj ET Q q 0 0 0 rg BT 534.88 301.80 Td (were ) Tj ET Q q 0 0 0 rg BT 552.29 301.80 Td (not ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 292.20 Td (provided ) Tj ET Q q 0 0 0 rg BT 80.07 292.20 Td (and ) Tj ET Q q 0 0 0 rg BT 93.75 292.20 Td (using ) Tj ET Q q 0 0 0 rg BT 113.22 292.20 Td (the ) Tj ET Q q 0 0 0 rg BT 125.13 292.20 Td (funds ) Tj ET Q q 0 0 0 rg BT 145.04 292.20 Td (for ) Tj ET Q q 0 0 0 rg BT 156.50 292.20 Td (settling ) Tj ET Q q 0 0 0 rg BT 182.19 292.20 Td (such ) Tj ET Q q 0 0 0 rg BT 198.98 292.20 Td (invoices ) Tj ET Q q 0 0 0 rg BT 227.78 292.20 Td (to ) Tj ET Q q 0 0 0 rg BT 236.13 292.20 Td (allegedly ) Tj ET Q q 0 0 0 rg BT 267.59 292.20 Td (make ) Tj ET Q q 0 0 0 rg BT 287.04 292.20 Td (payments ) Tj ET Q q 0 0 0 rg BT 319.84 292.20 Td (to ) Tj ET Q q 0 0 0 rg BT 328.19 292.20 Td (members ) Tj ET Q q 0 0 0 rg BT 359.65 292.20 Td (of ) Tj ET Q q 0 0 0 rg BT 368.45 292.20 Td (the ) Tj ET Q q 0 0 0 rg BT 380.35 292.20 Td (management ) Tj ET Q q 0 0 0 rg BT 423.36 292.20 Td (of ) Tj ET Q q 0 0 0 rg BT 432.15 292.20 Td (MPS, ) Tj ET Q q 0 0 0 rg BT 452.30 292.20 Td (other ) Tj ET Q q 0 0 0 rg BT 470.87 292.20 Td (employees ) Tj ET Q q 0 0 0 rg BT 507.21 292.20 Td (of ) Tj ET Q q 0 0 0 rg BT 516.01 292.20 Td (MPS ) Tj ET Q q 0 0 0 rg BT 534.15 292.20 Td (or ) Tj ET Q q 0 0 0 rg BT 542.95 292.20 Td (others ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 282.60 Td (involved ) Tj ET Q q 0 0 0 rg BT 79.60 282.60 Td (in ) Tj ET Q q 0 0 0 rg BT 87.93 282.60 Td (the ) Tj ET Q q 0 0 0 rg BT 99.80 282.60 Td (administration ) Tj ET Q q 0 0 0 rg BT 148.12 282.60 Td (of ) Tj ET Q q 0 0 0 rg BT 156.89 282.60 Td (this ) Tj ET Q q 0 0 0 rg BT 170.55 282.60 Td (scheme. ) Tj ET Q q 0 0 0 rg BT 198.64 282.60 Td (It ) Tj ET Q q 0 0 0 rg BT 205.63 282.60 Td (is ) Tj ET Q q 0 0 0 rg BT 213.07 282.60 Td (also ) Tj ET Q q 0 0 0 rg BT 228.06 282.60 Td (alleged ) Tj ET Q q 0 0 0 rg BT 253.26 282.60 Td (that ) Tj ET Q q 0 0 0 rg BT 267.36 282.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 291.23 282.60 Td (employees ) Tj ET Q q 0 0 0 rg BT 327.54 282.60 Td (of ) Tj ET Q q 0 0 0 rg BT 336.31 282.60 Td (MPS ) Tj ET Q q 0 0 0 rg BT 354.43 282.60 Td (were ) Tj ET Q q 0 0 0 rg BT 372.07 282.60 Td (involved ) Tj ET Q q 0 0 0 rg BT 402.17 282.60 Td (in ) Tj ET Q q 0 0 0 rg BT 410.50 282.60 Td (the ) Tj ET Q q 0 0 0 rg BT 422.38 282.60 Td (ownership ) Tj ET Q q 0 0 0 rg BT 457.81 282.60 Td (or ) Tj ET Q q 0 0 0 rg BT 466.57 282.60 Td (management ) Tj ET Q q 0 0 0 rg BT 509.55 282.60 Td (of ) Tj ET Q q 0 0 0 rg BT 518.32 282.60 Td (some ) Tj ET Q q 0 0 0 rg BT 537.31 282.60 Td (of ) Tj ET Q q 0 0 0 rg BT 546.07 282.60 Td (these ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 273.00 Td (companies.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 257.40 Td (At ) Tj ET Q q 0 0 0 rg BT 59.45 257.40 Td (this ) Tj ET Q q 0 0 0 rg BT 72.96 257.40 Td (stage, ) Tj ET Q q 0 0 0 rg BT 93.35 257.40 Td (neither ) Tj ET Q q 0 0 0 rg BT 117.52 257.40 Td (MPS ) Tj ET Q q 0 0 0 rg BT 135.48 257.40 Td (nor ) Tj ET Q q 0 0 0 rg BT 148.10 257.40 Td (MPE ) Tj ET Q q 0 0 0 rg BT 166.50 257.40 Td (is ) Tj ET Q q 0 0 0 rg BT 173.79 257.40 Td (currently ) Tj ET Q q 0 0 0 rg BT 204.61 257.40 Td (a ) Tj ET Q q 0 0 0 rg BT 210.12 257.40 Td (subject ) Tj ET Q q 0 0 0 rg BT 234.73 257.40 Td (of ) Tj ET Q q 0 0 0 rg BT 243.34 257.40 Td (the ) Tj ET Q q 0 0 0 rg BT 255.07 257.40 Td (investigation ) Tj ET Q q 0 0 0 rg BT 298.35 257.40 Td (or ) Tj ET Q q 0 0 0 rg BT 306.97 257.40 Td (a ) Tj ET Q q 0 0 0 rg BT 312.47 257.40 Td (party ) Tj ET Q q 0 0 0 rg BT 330.86 257.40 Td (to ) Tj ET Q q 0 0 0 rg BT 339.03 257.40 Td (the ) Tj ET Q q 0 0 0 rg BT 350.76 257.40 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 391.36 257.40 Td (and ) Tj ET Q q 0 0 0 rg BT 404.87 257.40 Td (no ) Tj ET Q q 0 0 0 rg BT 414.82 257.40 Td (formal ) Tj ET Q q 0 0 0 rg BT 438.09 257.40 Td (char) Tj ET Q q 0 0 0 rg BT 451.72 257.40 Td (ges ) Tj ET Q q 0 0 0 rg BT 464.33 257.40 Td (against ) Tj ET Q q 0 0 0 rg BT 488.94 257.40 Td (or ) Tj ET Q q 0 0 0 rg BT 497.56 257.40 Td (indictment ) Tj ET Q q 0 0 0 rg BT 533.73 257.40 Td (of ) Tj ET Q q 0 0 0 rg BT 542.34 257.40 Td (any ) Tj ET Q q 0 0 0 rg BT 555.85 257.40 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 247.80 Td (the ) Tj ET Q q 0 0 0 rg BT 61.12 247.80 Td (persons ) Tj ET Q q 0 0 0 rg BT 87.41 247.80 Td (who ) Tj ET Q q 0 0 0 rg BT 103.04 247.80 Td (have ) Tj ET Q q 0 0 0 rg BT 119.99 247.80 Td (been ) Tj ET Q q 0 0 0 rg BT 136.94 247.80 Td (detained ) Tj ET Q q 0 0 0 rg BT 165.89 247.80 Td (or ) Tj ET Q q 0 0 0 rg BT 174.40 247.80 Td (are ) Tj ET Q q 0 0 0 rg BT 186.02 247.80 Td (under ) Tj ET Q q 0 0 0 rg BT 206.08 247.80 Td (investigation ) Tj ET Q q 0 0 0 rg BT 249.26 247.80 Td (has ) Tj ET Q q 0 0 0 rg BT 261.78 247.80 Td (been ) Tj ET Q q 0 0 0 rg BT 278.73 247.80 Td (made. ) Tj ET Q q 0 0 0 rg BT 299.90 247.80 Td (MPS ) Tj ET Q q 0 0 0 rg BT 317.76 247.80 Td (is ) Tj ET Q q 0 0 0 rg BT 324.95 247.80 Td (cooperating ) Tj ET Q q 0 0 0 rg BT 364.56 247.80 Td (with ) Tj ET Q q 0 0 0 rg BT 380.63 247.80 Td (the ) Tj ET Q q 0 0 0 rg BT 392.25 247.80 Td (authorities ) Tj ET Q q 0 0 0 rg BT 427.87 247.80 Td (in ) Tj ET Q q 0 0 0 rg BT 435.95 247.80 Td (its ) Tj ET Q q 0 0 0 rg BT 445.35 247.80 Td (investigation ) Tj ET Q q 0 0 0 rg BT 488.53 247.80 Td (and ) Tj ET Q q 0 0 0 rg BT 501.93 247.80 Td (CME ) Tj ET Q q 0 0 0 rg BT 521.12 247.80 Td (has ) Tj ET Q q 0 0 0 rg BT 533.63 247.80 Td (launched ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 238.20 Td (its ) Tj ET Q q 0 0 0 rg BT 59.49 238.20 Td (own ) Tj ET Q q 0 0 0 rg BT 75.71 238.20 Td (internal ) Tj ET Q q 0 0 0 rg BT 102.58 238.20 Td (investigation. ) Tj ET Q q 0 0 0 rg BT 148.34 238.20 Td (Because ) Tj ET Q q 0 0 0 rg BT 177.43 238.20 Td (the ) Tj ET Q q 0 0 0 rg BT 189.64 238.20 Td (investigations ) Tj ET Q q 0 0 0 rg BT 236.51 238.20 Td (are ) Tj ET Q q 0 0 0 rg BT 248.71 238.20 Td (ongoing, ) Tj ET Q q 0 0 0 rg BT 279.37 238.20 Td (we ) Tj ET Q q 0 0 0 rg BT 291.14 238.20 Td (cannot ) Tj ET Q q 0 0 0 rg BT 314.90 238.20 Td (predict ) Tj ET Q q 0 0 0 rg BT 339.54 238.20 Td (when ) Tj ET Q q 0 0 0 rg BT 359.31 238.20 Td (they ) Tj ET Q q 0 0 0 rg BT 375.52 238.20 Td (will ) Tj ET Q q 0 0 0 rg BT 390.40 238.20 Td (be ) Tj ET Q q 0 0 0 rg BT 400.38 238.20 Td (completed ) Tj ET Q q 0 0 0 rg BT 436.14 238.20 Td (or ) Tj ET Q q 0 0 0 rg BT 445.24 238.20 Td (what ) Tj ET Q q 0 0 0 rg BT 463.22 238.20 Td (the ) Tj ET Q q 0 0 0 rg BT 475.43 238.20 Td (outcome ) Tj ET Q q 0 0 0 rg BT 505.42 238.20 Td (will ) Tj ET Q q 0 0 0 rg BT 520.30 238.20 Td (be, ) Tj ET Q q 0 0 0 rg BT 532.28 238.20 Td (including ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 228.60 Td (whether ) Tj ET Q q 0 0 0 rg BT 76.77 228.60 Td (MPS ) Tj ET Q q 0 0 0 rg BT 94.28 228.60 Td (or ) Tj ET Q q 0 0 0 rg BT 102.44 228.60 Td (MPE ) Tj ET Q q 0 0 0 rg BT 120.39 228.60 Td (will ) Tj ET Q q 0 0 0 rg BT 134.34 228.60 Td (be ) Tj ET Q q 0 0 0 rg BT 143.39 228.60 Td (joined ) Tj ET Q q 0 0 0 rg BT 164.89 228.60 Td (to ) Tj ET Q q 0 0 0 rg BT 172.61 228.60 Td (the ) Tj ET Q q 0 0 0 rg BT 183.89 228.60 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 224.04 228.60 Td (either ) Tj ET Q q 0 0 0 rg BT 243.75 228.60 Td (as ) Tj ET Q q 0 0 0 rg BT 251.92 228.60 Td (a ) Tj ET Q q 0 0 0 rg BT 256.97 228.60 Td (defendant ) Tj ET Q q 0 0 0 rg BT 290.01 228.60 Td (or ) Tj ET Q q 0 0 0 rg BT 298.17 228.60 Td (a ) Tj ET Q q 0 0 0 rg BT 303.23 228.60 Td (civilly ) Tj ET Q q 0 0 0 rg BT 325.17 228.60 Td (liable ) Tj ET Q q 0 0 0 rg BT 344.44 228.60 Td (party ) Tj ET Q q 0 0 0 rg BT 362.38 228.60 Td (\(which ) Tj ET Q q 0 0 0 rg BT 386.09 228.60 Td (would ) Tj ET Q q 0 0 0 rg BT 407.59 228.60 Td (result ) Tj ET Q q 0 0 0 rg BT 426.87 228.60 Td (in ) Tj ET Q q 0 0 0 rg BT 434.59 228.60 Td (joint ) Tj ET Q q 0 0 0 rg BT 450.76 228.60 Td (and ) Tj ET Q q 0 0 0 rg BT 463.81 228.60 Td (several ) Tj ET Q q 0 0 0 rg BT 487.97 228.60 Td (liability ) Tj ET Q q 0 0 0 rg BT 514.35 228.60 Td (with ) Tj ET Q q 0 0 0 rg BT 530.08 228.60 Td (individual ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 219.00 Td (defendants ) Tj ET Q q 0 0 0 rg BT 86.15 219.00 Td (for ) Tj ET Q q 0 0 0 rg BT 97.48 219.00 Td (damages ) Tj ET Q q 0 0 0 rg BT 127.47 219.00 Td (caused\) ) Tj ET Q q 0 0 0 rg BT 153.90 219.00 Td (or ) Tj ET Q q 0 0 0 rg BT 162.56 219.00 Td (whether ) Tj ET Q q 0 0 0 rg BT 190.33 219.00 Td (any ) Tj ET Q q 0 0 0 rg BT 203.88 219.00 Td (fines, ) Tj ET Q q 0 0 0 rg BT 223.43 219.00 Td (penalties, ) Tj ET Q q 0 0 0 rg BT 255.86 219.00 Td (damages ) Tj ET Q q 0 0 0 rg BT 285.85 219.00 Td (or ) Tj ET Q q 0 0 0 rg BT 294.52 219.00 Td (other ) Tj ET Q q 0 0 0 rg BT 312.95 219.00 Td (measures ) Tj ET Q q 0 0 0 rg BT 344.72 219.00 Td (will ) Tj ET Q q 0 0 0 rg BT 359.16 219.00 Td (be ) Tj ET Q q 0 0 0 rg BT 368.71 219.00 Td (imposed ) Tj ET Q q 0 0 0 rg BT 397.82 219.00 Td (on ) Tj ET Q q 0 0 0 rg BT 407.82 219.00 Td (MPS ) Tj ET Q q 0 0 0 rg BT 425.84 219.00 Td (or ) Tj ET Q q 0 0 0 rg BT 434.50 219.00 Td (MPE ) Tj ET Q q 0 0 0 rg BT 452.95 219.00 Td (in ) Tj ET Q q 0 0 0 rg BT 461.17 219.00 Td (that ) Tj ET Q q 0 0 0 rg BT 475.17 219.00 Td (event.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 200.40 Td (Slovenian ) Tj ET Q q 0 0 0 rg BT 83.05 200.40 Td (Competition ) Tj ET Q q 0 0 0 rg BT 124.60 200.40 Td (Pr) Tj ET Q q 0 0 0 rg BT 132.30 200.40 Td (oceeding) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 184.80 Td (On ) Tj ET Q q 0 0 0 rg BT 60.38 184.80 Td (April ) Tj ET Q q 0 0 0 rg BT 78.68 184.80 Td (24, ) Tj ET Q q 0 0 0 rg BT 90.10 184.80 Td (2013 ) Tj ET Q q 0 0 0 rg BT 107.51 184.80 Td (the ) Tj ET Q q 0 0 0 rg BT 118.70 184.80 Td (Competition ) Tj ET Q q 0 0 0 rg BT 160.12 184.80 Td (Protection ) Tj ET Q q 0 0 0 rg BT 194.10 184.80 Td (Agency ) Tj ET Q q 0 0 0 rg BT 220.39 184.80 Td (of ) Tj ET Q q 0 0 0 rg BT 228.47 184.80 Td (the ) Tj ET Q q 0 0 0 rg BT 239.66 184.80 Td (Republic ) Tj ET Q q 0 0 0 rg BT 269.96 184.80 Td (of ) Tj ET Q q 0 0 0 rg BT 278.04 184.80 Td (Slovenia ) Tj ET Q q 0 0 0 rg BT 307.45 184.80 Td (\(CP) Tj ET Q q 0 0 0 rg BT 322.72 184.80 Td (A\) ) Tj ET Q q 0 0 0 rg BT 336.12 184.80 Td (adopted ) Tj ET Q q 0 0 0 rg BT 362.86 184.80 Td (a ) Tj ET Q q 0 0 0 rg BT 367.83 184.80 Td (decision ) Tj ET Q q 0 0 0 rg BT 395.90 184.80 Td (finding ) Tj ET Q q 0 0 0 rg BT 420.43 184.80 Td (that ) Tj ET Q q 0 0 0 rg BT 433.84 184.80 Td (our ) Tj ET Q q 0 0 0 rg BT 445.92 184.80 Td (wholly-owned ) Tj ET Q q 0 0 0 rg BT 493.55 184.80 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 527.85 184.80 Td (Produkcija ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 175.20 Td (Plus ) Tj ET Q q 0 0 0 rg BT 65.88 175.20 Td (d.o.o. ) Tj ET Q q 0 0 0 rg BT 86.48 175.20 Td (\(Pro ) Tj ET Q q 0 0 0 rg BT 106.41 175.20 Td (Plus\) ) Tj ET Q q 0 0 0 rg BT 129.01 175.20 Td (has ) Tj ET Q q 0 0 0 rg BT 142.28 175.20 Td (abused ) Tj ET Q q 0 0 0 rg BT 167.09 175.20 Td (a ) Tj ET Q q 0 0 0 rg BT 173.24 175.20 Td (dominant ) Tj ET Q q 0 0 0 rg BT 206.06 175.20 Td (position ) Tj ET Q q 0 0 0 rg BT 234.44 175.20 Td (on ) Tj ET Q q 0 0 0 rg BT 245.04 175.20 Td (the ) Tj ET Q q 0 0 0 rg BT 257.41 175.20 Td (Slovenian ) Tj ET Q q 0 0 0 rg BT 292.01 175.20 Td (television ) Tj ET Q q 0 0 0 rg BT 325.71 175.20 Td (advertising ) Tj ET Q q 0 0 0 rg BT 363.86 175.20 Td (market ) Tj ET Q q 0 0 0 rg BT 388.67 175.20 Td (in ) Tj ET Q q 0 0 0 rg BT 397.49 175.20 Td (breach ) Tj ET Q q 0 0 0 rg BT 421.41 175.20 Td (of ) Tj ET Q q 0 0 0 rg BT 430.67 175.20 Td (applicable ) Tj ET Q q 0 0 0 rg BT 466.14 175.20 Td (competition ) Tj ET Q q 0 0 0 rg BT 506.96 175.20 Td (law) Tj ET Q q 0 0 0 rg BT 517.99 175.20 Td (, ) Tj ET Q q 0 0 0 rg BT 522.59 175.20 Td (by ) Tj ET Q q 0 0 0 rg BT 533.19 175.20 Td (requiring ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 165.60 Td (exclusivity ) Tj ET Q q 0 0 0 rg BT 86.46 165.60 Td (from ) Tj ET Q q 0 0 0 rg BT 103.86 165.60 Td (its ) Tj ET Q q 0 0 0 rg BT 113.27 165.60 Td (advertising ) Tj ET Q q 0 0 0 rg BT 150.66 165.60 Td (customers ) Tj ET Q q 0 0 0 rg BT 184.95 165.60 Td (and ) Tj ET Q q 0 0 0 rg BT 198.35 165.60 Td (by ) Tj ET Q q 0 0 0 rg BT 208.20 165.60 Td (applying ) Tj ET Q q 0 0 0 rg BT 238.05 165.60 Td (loyalty ) Tj ET Q q 0 0 0 rg BT 262.12 165.60 Td (discounts ) Tj ET Q q 0 0 0 rg BT 294.19 165.60 Td (in ) Tj ET Q q 0 0 0 rg BT 302.27 165.60 Td (favor ) Tj ET Q q 0 0 0 rg BT 321.00 165.60 Td (of ) Tj ET Q q 0 0 0 rg BT 329.51 165.60 Td (its ) Tj ET Q q 0 0 0 rg BT 338.92 165.60 Td (customers. ) Tj ET Q q 0 0 0 rg BT 375.21 165.60 Td (Pro ) Tj ET Q q 0 0 0 rg BT 388.17 165.60 Td (Plus ) Tj ET Q q 0 0 0 rg BT 403.81 165.60 Td (filed ) Tj ET Q q 0 0 0 rg BT 420.32 165.60 Td (an ) Tj ET Q q 0 0 0 rg BT 429.72 165.60 Td (appeal ) Tj ET Q q 0 0 0 rg BT 452.45 165.60 Td (with ) Tj ET Q q 0 0 0 rg BT 468.52 165.60 Td (the ) Tj ET Q q 0 0 0 rg BT 480.14 165.60 Td (Slovenian ) Tj ET Q q 0 0 0 rg BT 513.99 165.60 Td (Supreme ) Tj ET Q q 0 0 0 rg BT 544.28 165.60 Td (Court ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 156.00 Td (on ) Tj ET Q q 0 0 0 rg BT 59.35 156.00 Td (May ) Tj ET Q q 0 0 0 rg BT 75.86 156.00 Td (24, ) Tj ET Q q 0 0 0 rg BT 87.71 156.00 Td (2013. ) Tj ET Q q 0 0 0 rg BT 107.55 156.00 Td (On ) Tj ET Q q 0 0 0 rg BT 119.18 156.00 Td (December3,2013, ) Tj ET Q q 0 0 0 rg BT 181.89 156.00 Td (the ) Tj ET Q q 0 0 0 rg BT 193.52 156.00 Td (Slovenian ) Tj ET Q q 0 0 0 rg BT 227.36 156.00 Td (Supreme ) Tj ET Q q 0 0 0 rg BT 257.64 156.00 Td (Court ) Tj ET Q q 0 0 0 rg BT 277.71 156.00 Td (af) Tj ET Q q 0 0 0 rg BT 283.79 156.00 Td (firmed ) Tj ET Q q 0 0 0 rg BT 306.96 156.00 Td (the ) Tj ET Q q 0 0 0 rg BT 318.58 156.00 Td (decision ) Tj ET Q q 0 0 0 rg BT 347.09 156.00 Td (of ) Tj ET Q q 0 0 0 rg BT 355.60 156.00 Td (the ) Tj ET Q q 0 0 0 rg BT 367.22 156.00 Td (CP) Tj ET Q q 0 0 0 rg BT 376.27 156.00 Td (A. ) Tj ET Q q 0 0 0 rg BT 385.89 156.00 Td (On ) Tj ET Q q 0 0 0 rg BT 397.52 156.00 Td (July ) Tj ET Q q 0 0 0 rg BT 412.70 156.00 Td (21, ) Tj ET Q q 0 0 0 rg BT 424.55 156.00 Td (2014 ) Tj ET Q q 0 0 0 rg BT 442.40 156.00 Td (the ) Tj ET Q q 0 0 0 rg BT 454.02 156.00 Td (CP) Tj ET Q q 0 0 0 rg BT 463.07 156.00 Td (A) Tj ET Q q 0 0 0 rg BT 468.41 156.00 Td ( ) Tj ET Q q 0 0 0 rg BT 470.25 156.00 Td (adopted ) Tj ET Q q 0 0 0 rg BT 497.43 156.00 Td (a ) Tj ET Q q 0 0 0 rg BT 502.82 156.00 Td (decision ) Tj ET Q q 0 0 0 rg BT 531.33 156.00 Td (to ) Tj ET Q q 0 0 0 rg BT 539.40 156.00 Td (impose ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 146.40 Td (a ) Tj ET Q q 0 0 0 rg BT 55.05 146.40 Td (fine ) Tj ET Q q 0 0 0 rg BT 69.49 146.40 Td (of ) Tj ET Q q 0 0 0 rg BT 78.15 146.40 Td (EUR ) Tj ET Q q 0 0 0 rg BT 96.15 146.40 Td (5.1 ) Tj ET Q q 0 0 0 rg BT 108.15 146.40 Td (million. ) Tj ET Q q 0 0 0 rg BT 135.27 146.40 Td (Pro ) Tj ET Q q 0 0 0 rg BT 148.38 146.40 Td (Plus ) Tj ET Q q 0 0 0 rg BT 164.16 146.40 Td (appealed ) Tj ET Q q 0 0 0 rg BT 194.59 146.40 Td (the ) Tj ET Q q 0 0 0 rg BT 206.36 146.40 Td (decision ) Tj ET Q q 0 0 0 rg BT 235.02 146.40 Td (and ) Tj ET Q q 0 0 0 rg BT 248.57 146.40 Td (the ) Tj ET Q q 0 0 0 rg BT 260.35 146.40 Td (fine ) Tj ET Q q 0 0 0 rg BT 274.79 146.40 Td (was ) Tj ET Q q 0 0 0 rg BT 289.23 146.40 Td (overturned ) Tj ET Q q 0 0 0 rg BT 325.88 146.40 Td (on ) Tj ET Q q 0 0 0 rg BT 335.88 146.40 Td (November ) Tj ET Q q 0 0 0 rg BT 371.64 146.40 Td (3, ) Tj ET Q q 0 0 0 rg BT 379.64 146.40 Td (2014. ) Tj ET Q q 0 0 0 rg BT 399.50 146.40 Td (The ) Tj ET Q q 0 0 0 rg BT 413.94 146.40 Td (CP) Tj ET Q q 0 0 0 rg BT 422.99 146.40 Td (A) Tj ET Q q 0 0 0 rg BT 428.32 146.40 Td ( ) Tj ET Q q 0 0 0 rg BT 430.32 146.40 Td (is ) Tj ET Q q 0 0 0 rg BT 437.66 146.40 Td (appealing ) Tj ET Q q 0 0 0 rg BT 470.76 146.40 Td (this ) Tj ET Q q 0 0 0 rg BT 484.32 146.40 Td (decision. ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 124.80 Td (ITEM ) Tj ET Q q 0 0 0 rg BT 72.84 124.80 Td (4. ) Tj ET Q q 0 0 0 rg BT 94.50 124.80 Td (MINE ) Tj ET Q q 0 0 0 rg BT 118.28 124.80 Td (SAFETY) Tj ET Q q 0 0 0 rg BT 149.54 124.80 Td ( ) Tj ET Q q 0 0 0 rg BT 151.54 124.80 Td (DISCLOSURES) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 109.20 Td (Not ) Tj ET Q q 0 0 0 rg BT 63.50 109.20 Td (applicable.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 87.60 Td (P) Tj ET Q q 0 0 0 rg BT 53.79 87.60 Td (AR) Tj ET Q q 0 0 0 rg BT 65.07 87.60 Td (T) Tj ET Q q 0 0 0 rg BT 70.26 87.60 Td ( II) Tj ET Q endstream endobj 37 0 obj <>] /Rotate 0 /Contents 38 0 R>> endobj 38 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (16) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 723.60 Td (ITEM ) Tj ET Q q 0 0 0 rg BT 72.84 723.60 Td (5. ) Tj ET Q q 0 0 0 rg BT 94.50 723.60 Td (MARKET) Tj ET Q q 0 0 0 rg BT 130.36 723.60 Td ( ) Tj ET Q q 0 0 0 rg BT 133.94 723.60 Td (FOR ) Tj ET Q q 0 0 0 rg BT 154.42 723.60 Td (REGISTRANT'S ) Tj ET Q q 0 0 0 rg BT 217.58 723.60 Td (COMMON ) Tj ET Q q 0 0 0 rg BT 260.27 723.60 Td (EQUITY) Tj ET Q q 0 0 0 rg BT 291.10 723.60 Td (, ) Tj ET Q q 0 0 0 rg BT 296.68 723.60 Td (RELA) Tj ET Q q 0 0 0 rg BT 318.32 723.60 Td (TED ) Tj ET Q q 0 0 0 rg BT 338.35 723.60 Td (ST) Tj ET Q q 0 0 0 rg BT 347.99 723.60 Td (OCKHOLDER ) Tj ET Q q 0 0 0 rg BT 404.48 723.60 Td (MA) Tj ET Q q 0 0 0 rg BT 417.21 723.60 Td (TTERS ) Tj ET Q q 0 0 0 rg BT 446.24 723.60 Td (AND ) Tj ET Q q 0 0 0 rg BT 467.16 723.60 Td (ISSUER ) Tj ET Q q 0 0 0 rg BT 499.65 723.60 Td (PURCHASES ) Tj ET Q q 0 0 0 rg BT 551.69 723.60 Td (OF) Tj ET Q q 0 0 0 rg BT 562.50 723.60 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 94.50 714.00 Td (EQUITY) Tj ET Q q 0 0 0 rg BT 125.77 714.00 Td ( ) Tj ET Q q 0 0 0 rg BT 127.77 714.00 Td (SECURITIES) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 698.40 Td (Shares ) Tj ET Q q 0 0 0 rg BT 73.30 698.40 Td (of ) Tj ET Q q 0 0 0 rg BT 82.43 698.40 Td (Class ) Tj ET Q q 0 0 0 rg BT 101.69 698.40 Td (A) Tj ET Q q 0 0 0 rg BT 107.03 698.40 Td ( ) Tj ET Q q 0 0 0 rg BT 109.50 698.40 Td (common ) Tj ET Q q 0 0 0 rg BT 139.96 698.40 Td (stock ) Tj ET Q q 0 0 0 rg BT 159.32 698.40 Td (of ) Tj ET Q q 0 0 0 rg BT 168.45 698.40 Td (Central ) Tj ET Q q 0 0 0 rg BT 194.47 698.40 Td (European ) Tj ET Q q 0 0 0 rg BT 227.59 698.40 Td (Media ) Tj ET Q q 0 0 0 rg BT 250.50 698.40 Td (Enterprises ) Tj ET Q q 0 0 0 rg BT 288.96 698.40 Td (Ltd. ) Tj ET Q q 0 0 0 rg BT 304.54 698.40 Td (began ) Tj ET Q q 0 0 0 rg BT 326.11 698.40 Td (trading ) Tj ET Q q 0 0 0 rg BT 351.24 698.40 Td (on ) Tj ET Q q 0 0 0 rg BT 361.71 698.40 Td (the ) Tj ET Q q 0 0 0 rg BT 373.95 698.40 Td (NASDAQ ) Tj ET Q q 0 0 0 rg BT 409.76 698.40 Td (National ) Tj ET Q q 0 0 0 rg BT 439.77 698.40 Td (Market ) Tj ET Q q 0 0 0 rg BT 465.34 698.40 Td (\(since ) Tj ET Q q 0 0 0 rg BT 486.92 698.40 Td (renamed ) Tj ET Q q 0 0 0 rg BT 516.92 698.40 Td (the ) Tj ET Q q 0 0 0 rg BT 529.17 698.40 Td (NASDAQ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 688.80 Td (Global ) Tj ET Q q 0 0 0 rg BT 73.27 688.80 Td (Select ) Tj ET Q q 0 0 0 rg BT 94.82 688.80 Td (Market\) ) Tj ET Q q 0 0 0 rg BT 122.59 688.80 Td (on ) Tj ET Q q 0 0 0 rg BT 132.59 688.80 Td (October ) Tj ET Q q 0 0 0 rg BT 160.35 688.80 Td (13, ) Tj ET Q q 0 0 0 rg BT 172.35 688.80 Td (1994 ) Tj ET Q q 0 0 0 rg BT 190.35 688.80 Td (under ) Tj ET Q q 0 0 0 rg BT 210.57 688.80 Td (the ) Tj ET Q q 0 0 0 rg BT 222.34 688.80 Td (trading ) Tj ET Q q 0 0 0 rg BT 247.00 688.80 Td (symbol ) Tj ET Q q 0 0 0 rg BT 272.56 688.80 Td (CETV.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 673.20 Td (On ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 61.28 673.20 Td (March6, ) Tj ET Q q 0 0 0 rg BT 92.16 673.20 Td (2015) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 108.16 673.20 Td (, ) Tj ET Q q 0 0 0 rg BT 112.16 673.20 Td (the ) Tj ET Q q 0 0 0 rg BT 123.93 673.20 Td (last ) Tj ET Q q 0 0 0 rg BT 137.04 673.20 Td (reported ) Tj ET Q q 0 0 0 rg BT 165.69 673.20 Td (sales ) Tj ET Q q 0 0 0 rg BT 183.24 673.20 Td (price ) Tj ET Q q 0 0 0 rg BT 201.23 673.20 Td (for ) Tj ET Q q 0 0 0 rg BT 212.56 673.20 Td (shares ) Tj ET Q q 0 0 0 rg BT 234.55 673.20 Td (of ) Tj ET Q q 0 0 0 rg BT 243.21 673.20 Td (Class ) Tj ET Q q 0 0 0 rg BT 262.11 673.20 Td (A) Tj ET Q q 0 0 0 rg BT 267.45 673.20 Td ( ) Tj ET Q q 0 0 0 rg BT 269.45 673.20 Td (common ) Tj ET Q q 0 0 0 rg BT 299.44 673.20 Td (stock ) Tj ET Q q 0 0 0 rg BT 318.33 673.20 Td (was ) Tj ET Q q 0 0 0 rg BT 332.77 673.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.00 673.20 Td (2.63) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 363.00 673.20 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 657.60 Td (The ) Tj ET Q q 0 0 0 rg BT 63.94 657.60 Td (following ) Tj ET Q q 0 0 0 rg BT 97.05 657.60 Td (table ) Tj ET Q q 0 0 0 rg BT 114.59 657.60 Td (sets ) Tj ET Q q 0 0 0 rg BT 128.59 657.60 Td (forth ) Tj ET Q q 0 0 0 rg BT 146.14 657.60 Td (the ) Tj ET Q q 0 0 0 rg BT 157.92 657.60 Td (high ) Tj ET Q q 0 0 0 rg BT 174.14 657.60 Td (and ) Tj ET Q q 0 0 0 rg BT 187.69 657.60 Td (low ) Tj ET Q q 0 0 0 rg BT 201.69 657.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 222.79 657.60 Td (for ) Tj ET Q q 0 0 0 rg BT 234.12 657.60 Td (shares ) Tj ET Q q 0 0 0 rg BT 256.11 657.60 Td (of ) Tj ET Q q 0 0 0 rg BT 264.78 657.60 Td (Class ) Tj ET Q q 0 0 0 rg BT 283.67 657.60 Td (A) Tj ET Q q 0 0 0 rg BT 289.01 657.60 Td ( ) Tj ET Q q 0 0 0 rg BT 291.01 657.60 Td (common ) Tj ET Q q 0 0 0 rg BT 321.00 657.60 Td (stock ) Tj ET Q q 0 0 0 rg BT 339.89 657.60 Td (for ) Tj ET Q q 0 0 0 rg BT 351.22 657.60 Td (each ) Tj ET Q q 0 0 0 rg BT 367.87 657.60 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 398.75 657.60 Td (period ) Tj ET Q q 0 0 0 rg BT 421.18 657.60 Td (during ) Tj ET Q q 0 0 0 rg BT 444.07 657.60 Td (the ) Tj ET Q q 0 0 0 rg BT 455.84 657.60 Td (last ) Tj ET Q q 0 0 0 rg BT 468.95 657.60 Td (two ) Tj ET Q q 0 0 0 rg BT 482.95 657.60 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 502.28 657.60 Td (years.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 605.10 205.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 605.10 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.00 605.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.00 605.10 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.00 605.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 605.10 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 605.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 605.10 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 575.10 205.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 575.10 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.00 575.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.00 575.10 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.00 575.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 575.10 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 575.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 575.10 74.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 254 626.1 m 328 626.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 328 626.1 m 332 626.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 332 626.1 m 406 626.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 410 626.1 m 484 626.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 484 626.1 m 488 626.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 488 626.1 m 562 626.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 254 605.1 m 328 605.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 332 605.1 m 406 605.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 410 605.1 m 484 605.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 488 605.1 m 562 605.1 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 321.50 630.33 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 477.50 630.33 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 282.05 617.33 Td (High) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 267.65 609.33 Td (\(US$ / Shar) Tj ET Q q 0 0 0 rg BT 307.07 609.33 Td (e\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.90 617.33 Td (Low) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 345.65 609.33 Td (\(US$ / Shar) Tj ET Q q 0 0 0 rg BT 385.07 609.33 Td (e\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.05 617.33 Td (High) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.65 609.33 Td (\(US$ / Shar) Tj ET Q q 0 0 0 rg BT 463.07 609.33 Td (e\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.90 617.33 Td (Low) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 501.65 609.33 Td (\(US$ / Shar) Tj ET Q q 0 0 0 rg BT 541.07 609.33 Td (e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 594.35 Td (Fourth Quarter) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 256.50 594.35 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 310.80 594.35 Td (3.23) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 334.50 594.35 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.80 594.35 Td (2.12) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.50 594.35 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.80 594.35 Td (6.65) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.50 594.35 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.80 594.35 Td (2.03) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 579.35 Td (Third Quarter) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 310.80 579.35 Td (2.92) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.80 579.35 Td (2.25) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.80 579.35 Td (5.62) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.80 579.35 Td (3.07) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 564.35 Td (Second Quarter) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 310.80 564.35 Td (3.22) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.80 564.35 Td (2.45) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.80 564.35 Td (4.68) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.80 564.35 Td (2.60) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 549.35 Td (First Quarter) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 310.80 549.35 Td (5.17) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.80 549.35 Td (2.58) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.80 549.35 Td (6.85) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.80 549.35 Td (4.20) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 530.00 Td (At ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.50 530.00 Td (March6, ) Tj ET Q q 0 0 0 rg BT 90.38 530.00 Td (2015) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.38 530.00 Td (, ) Tj ET Q q 0 0 0 rg BT 110.38 530.00 Td (there ) Tj ET Q q 0 0 0 rg BT 128.37 530.00 Td (were ) Tj ET Q q 0 0 0 rg BT 145.91 530.00 Td (approximately ) Tj ET Q q 0 0 0 rg BT 194.12 530.00 Td (56 ) Tj ET Q q 0 0 0 rg BT 204.12 530.00 Td (holders ) Tj ET Q q 0 0 0 rg BT 229.67 530.00 Td (of ) Tj ET Q q 0 0 0 rg BT 238.33 530.00 Td (record ) Tj ET Q q 0 0 0 rg BT 260.76 530.00 Td (\(including 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(2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.62 228.60 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.73 228.60 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 287.73 228.60 Td ( ) Tj ET Q q 0 0 0 rg BT 289.84 228.60 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 303.50 228.60 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.50 228.60 Td ( ) Tj ET Q q 0 0 0 rg BT 321.61 228.60 Td (and ) Tj ET Q q 0 0 0 rg BT 335.27 228.60 Td (the ) Tj ET Q q 0 0 0 rg BT 347.15 228.60 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 389.70 228.60 Td (balance ) Tj ET Q q 0 0 0 rg BT 416.23 228.60 Td (sheet ) Tj ET Q q 0 0 0 rg BT 434.78 228.60 Td (data ) Tj ET Q q 0 0 0 rg BT 450.21 228.60 Td (as ) Tj ET Q q 0 0 0 rg BT 458.98 228.60 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.76 228.60 Td (December31, ) Tj ET Q q 0 0 0 rg BT 514.73 228.60 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.73 228.60 Td ( ) Tj ET Q q 0 0 0 rg BT 532.84 228.60 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.50 228.60 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 562.50 228.60 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 219.00 Td (from ) Tj ET Q q 0 0 0 rg BT 67.96 219.00 Td (the ) Tj ET Q q 0 0 0 rg BT 80.64 219.00 Td (audited ) Tj ET Q q 0 0 0 rg BT 107.10 219.00 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 150.45 219.00 Td (financial ) Tj ET Q q 0 0 0 rg BT 181.34 219.00 Td (statements ) Tj ET Q q 0 0 0 rg BT 218.02 219.00 Td (included ) Tj ET Q q 0 0 0 rg BT 248.48 219.00 Td (elsewhere ) Tj ET Q q 0 0 0 rg BT 283.37 219.00 Td (in ) Tj ET Q q 0 0 0 rg BT 292.50 219.00 Td (this ) Tj ET Q q 0 0 0 rg BT 306.33 219.00 Td (Annual ) Tj ET Q q 0 0 0 rg BT 332.79 219.00 Td (Report ) Tj ET Q q 0 0 0 rg BT 357.47 219.00 Td (on ) Tj ET Q q 0 0 0 rg BT 368.38 219.00 Td (Form ) Tj ET Q q 0 0 0 rg BT 388.63 219.00 Td (10-K. ) Tj ET Q q 0 0 0 rg BT 409.77 219.00 Td (The ) Tj ET Q q 0 0 0 rg BT 425.12 219.00 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 468.46 219.00 Td (statements 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rg BT 314.55 209.40 Td (the ) Tj ET Q q 0 0 0 rg BT 326.40 209.40 Td (balance ) Tj ET Q q 0 0 0 rg BT 352.91 209.40 Td (sheet ) Tj ET Q q 0 0 0 rg BT 371.42 209.40 Td (data ) Tj ET Q q 0 0 0 rg BT 386.82 209.40 Td (as ) Tj ET Q q 0 0 0 rg BT 395.56 209.40 Td (of ) Tj ET Q q 0 0 0 rg BT 404.31 209.40 Td (December ) Tj ET Q q 0 0 0 rg BT 439.25 209.40 Td (31, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.33 209.40 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.33 209.40 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.40 209.40 Td (201) Tj ET Q q 0 0 0 rg BT 483.11 209.40 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.11 209.40 Td ( ) Tj ET Q q 0 0 0 rg BT 489.18 209.40 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.81 209.40 Td (2010) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 518.81 209.40 Td ( ) Tj ET Q q 0 0 0 rg BT 520.89 209.40 Td (were ) Tj ET Q q 0 0 0 rg BT 538.51 209.40 Td (derived ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 199.80 Td (from ) Tj ET Q q 0 0 0 rg BT 67.25 199.80 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 109.88 199.80 Td (financial ) Tj ET Q q 0 0 0 rg BT 140.05 199.80 Td (statements ) Tj ET Q q 0 0 0 rg BT 176.02 199.80 Td (that ) Tj ET Q q 0 0 0 rg BT 190.21 199.80 Td (are ) Tj ET Q q 0 0 0 rg BT 202.17 199.80 Td (not ) Tj ET Q q 0 0 0 rg BT 214.59 199.80 Td (included ) Tj ET Q q 0 0 0 rg BT 244.33 199.80 Td (in ) Tj ET Q q 0 0 0 rg BT 252.75 199.80 Td (this ) Tj ET Q q 0 0 0 rg BT 266.02 199.80 Td (Annual ) Tj ET Q q 0 0 0 rg BT 291.77 199.80 Td (Report ) Tj ET Q q 0 0 0 rg BT 315.73 199.80 Td (on ) Tj ET Q q 0 0 0 rg BT 325.93 199.80 Td (Form ) Tj ET Q q 0 0 0 rg BT 345.46 199.80 Td (10-K. ) Tj ET Q q 0 0 0 rg BT 365.94 199.80 Td (The ) Tj ET Q q 0 0 0 rg BT 380.57 199.80 Td (selected ) Tj ET Q q 0 0 0 rg BT 408.53 199.80 Td (financial ) Tj ET Q q 0 0 0 rg BT 438.71 199.80 Td (data ) Tj ET Q q 0 0 0 rg BT 454.23 199.80 Td (for ) Tj ET Q q 0 0 0 rg BT 465.75 199.80 Td (all ) Tj ET Q q 0 0 0 rg BT 475.94 199.80 Td (periods ) Tj ET Q q 0 0 0 rg BT 501.69 199.80 Td (presented ) Tj ET Q q 0 0 0 rg BT 534.54 199.80 Td (has ) Tj ET Q q 0 0 0 rg BT 547.40 199.80 Td (been ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 190.20 Td (recast ) Tj ET Q q 0 0 0 rg BT 70.15 190.20 Td (to ) Tj ET Q q 0 0 0 rg BT 78.38 190.20 Td (present ) Tj ET Q q 0 0 0 rg BT 103.48 190.20 Td (the ) Tj ET Q q 0 0 0 rg BT 115.25 190.20 Td (impact ) Tj ET Q q 0 0 0 rg BT 139.02 190.20 Td (from ) Tj ET Q q 0 0 0 rg BT 156.57 190.20 Td (discontinued ) Tj ET Q q 0 0 0 rg BT 199.45 190.20 Td (operations.) Tj ET Q endstream endobj 41 0 obj <>] /Rotate 0 /Contents 42 0 R>> endobj 42 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (18) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 666.50 262.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 666.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 666.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 666.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 666.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 666.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 666.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 666.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 666.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 666.50 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 636.50 262.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 636.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 636.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 636.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 636.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 636.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 636.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 636.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 636.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 636.50 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 606.50 262.00 -15.00 re f /GS0 gs 0.8 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/GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 413.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 413.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 413.50 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 377.50 262.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 377.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 377.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 377.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 377.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 377.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 377.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 377.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 377.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 377.50 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 347.50 262.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 347.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 347.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 347.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 347.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 347.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 347.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 347.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 347.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 347.50 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 302.50 262.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 302.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 302.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 302.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 302.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 302.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 302.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 302.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 302.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 302.50 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 272.50 262.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 272.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 272.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 272.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 272.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 272.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 272.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 272.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 272.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 272.50 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 242.50 262.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 242.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 242.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 242.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 242.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 242.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 242.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 242.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 242.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 242.50 48.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 702.5 m 357.5 702.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 702.5 m 361.5 702.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 702.5 m 408.5 702.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 702.5 m 412.5 702.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 702.5 m 459.5 702.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 702.5 m 463.5 702.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 702.5 m 509.5 702.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 702.5 m 513.5 702.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 702.5 m 561.5 702.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 687.5 m 357.5 687.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 687.5 m 408.5 687.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 687.5 m 459.5 687.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 687.5 m 509.5 687.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 687.5 m 561.5 687.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 606.5 m 459.5 606.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 606.5 m 509.5 606.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 606.5 m 561.5 606.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 606.5 m 357.5 606.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 592.5 m 357.5 592.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 590.5 m 357.5 590.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 606.5 m 408.5 606.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 592.5 m 408.5 592.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 590.5 m 408.5 590.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 606.5 m 459.5 606.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 592.5 m 459.5 592.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 590.5 m 459.5 590.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 606.5 m 509.5 606.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 592.5 m 509.5 592.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 590.5 m 509.5 590.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 606.5 m 561.5 606.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 592.5 m 561.5 592.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 590.5 m 561.5 590.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 332.5 m 357.5 332.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 332.5 m 408.5 332.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 332.5 m 459.5 332.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 332.5 m 509.5 332.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 332.5 m 561.5 332.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 332.5 m 357.5 332.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 318.5 m 357.5 318.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 316.5 m 357.5 316.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 332.5 m 408.5 332.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 318.5 m 408.5 318.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 316.5 m 408.5 316.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 332.5 m 459.5 332.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 318.5 m 459.5 318.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 316.5 m 459.5 316.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 332.5 m 509.5 332.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 318.5 m 509.5 318.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 316.5 m 509.5 316.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 332.5 m 561.5 332.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 318.5 m 561.5 318.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 316.5 m 561.5 316.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 227.5 m 459.5 227.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 227.5 m 509.5 227.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 227.5 m 561.5 227.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 227.5 m 357.5 227.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 213.5 m 357.5 213.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 211.5 m 357.5 211.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 227.5 m 408.5 227.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 213.5 m 408.5 213.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 211.5 m 408.5 211.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 227.5 m 459.5 227.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 213.5 m 459.5 213.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 211.5 m 459.5 211.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 227.5 m 509.5 227.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 213.5 m 509.5 213.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 211.5 m 509.5 211.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 227.5 m 561.5 227.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 213.5 m 561.5 213.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 211.5 m 561.5 211.5 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.75 719.73 Td (For The Year Ending December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 378.15 706.73 Td (\(US$ 000's, except per share data\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.00 691.73 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 389.00 691.73 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.00 691.73 Td (2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.00 691.73 Td (2011) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 542.00 691.73 Td (2010) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 678.73 Td (CONSOLIDATED STATEMENTS OF OPERATIONS AND) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 670.73 Td (COMPREHENSIVE INCOME DATA:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 655.75 Td (Net revenues) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.00 655.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.25 655.75 Td (680,793) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 364.00 655.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.25 655.75 Td (633,134) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.00 655.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 655.75 Td (705,999) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.00 655.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.25 655.75 Td (801,511) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 655.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.25 655.75 Td (703,655) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 640.75 Td (Operating income / \(loss\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.25 640.75 Td (38,280) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.60 640.75 Td (\(180,017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.30 640.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.60 640.75 Td (\(479,789) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.30 640.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.25 640.75 Td (27,183) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.25 640.75 Td (36,520) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 625.75 Td (Loss from continuing operations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.60 625.75 Td (\(151,465) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 625.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.60 625.75 Td (\(276,434) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.30 625.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.60 625.75 Td (\(535,708) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.30 625.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.60 625.75 Td (\(157,517) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 625.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.60 625.75 Td (\(102,560) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 625.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 610.75 Td (\(Loss\) / income from discontinued operations, net of tax) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 329.60 610.75 Td (\(80,431) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 610.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 384.60 610.75 Td (\(5,099) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.30 610.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.60 610.75 Td (\(10,685) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.30 610.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.60 610.75 Td (\(22,088) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 610.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.25 610.75 Td (199,333) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 595.73 Td (Net \(loss\) / income attributable to CME Ltd) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.00 595.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.60 595.73 Td (\(227,428) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.30 595.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 364.00 595.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.60 595.73 Td (\(277,651) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 405.30 595.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.00 595.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 427.60 595.73 Td (\(535,680) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 456.30 595.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.00 595.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 477.60 595.73 Td (\(174,611) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 506.30 595.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.00 595.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.25 595.73 Td (100,175) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 573.73 Td (PER SHARE DATA:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 558.75 Td (Net \(loss\) / income per common share from:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 543.75 Td (Continuing operations - basic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.00 543.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.60 543.75 Td (\(1.11) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 543.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 364.00 543.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.60 543.75 Td (\(2.23) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.30 543.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.00 543.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.60 543.75 Td (\(6.83) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.30 543.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.00 543.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.60 543.75 Td (\(2.45) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 543.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 543.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.60 543.75 Td (\(1.60) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 543.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 528.75 Td (Continuing operations - diluted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.60 528.75 Td (\(1.11) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 528.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.60 528.75 Td (\(2.23) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.30 528.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.60 528.75 Td (\(6.83) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.30 528.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.60 528.75 Td (\(2.45) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 528.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.60 528.75 Td (\(1.60) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 528.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 513.75 Td (Discontinued operations basic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.60 513.75 Td (\(0.55) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 513.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.60 513.75 Td (\(0.04) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.30 513.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.60 513.75 Td (\(0.13) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.30 513.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.60 513.75 Td (\(0.26) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 513.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.30 513.75 Td (3.16) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 498.75 Td (Discontinued operations - diluted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.60 498.75 Td (\(0.55) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 498.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.60 498.75 Td (\(0.04) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.30 498.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.60 498.75 Td (\(0.13) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.30 498.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.60 498.75 Td (\(0.26) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 498.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.30 498.75 Td (3.16) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 483.75 Td (Net \(loss\) / income attributable to CME Ltd. basic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.60 483.75 Td (\(1.66) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 483.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.60 483.75 Td (\(2.27) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.30 483.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.60 483.75 Td (\(6.96) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.30 483.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.60 483.75 Td (\(2.71) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 483.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.30 483.75 Td (1.56) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 468.75 Td (Net \(loss\) / income attributable to CME Ltd. diluted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.60 468.75 Td (\(1.66) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 468.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.60 468.75 Td (\(2.27) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.30 468.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.60 468.75 Td (\(6.96) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.30 468.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.60 468.75 Td (\(2.71) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 468.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.30 468.75 Td (1.56) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 440.75 Td (Weighted average common shares used in computing per share amounts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 432.75 Td (\(000s\):) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 417.75 Td (Basic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.00 417.75 Td (146,509) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.00 417.75 Td (125,723) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.00 417.75 Td (76,919) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.00 417.75 Td (64,385) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.00 417.75 Td (64,029) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 402.75 Td (Diluted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.00 402.75 Td (146,509) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.00 402.75 Td (125,723) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.00 402.75 Td (76,919) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.00 402.75 Td (64,385) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.00 402.75 Td (64,029) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 381.73 Td (CONSOLIDATED BALANCE SHEET DATA:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 366.75 Td (Cash and cash equivalents) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.00 366.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.25 366.75 Td (34,298) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 364.00 366.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.25 366.75 Td (102,322) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.00 366.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 366.75 Td (136,543) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.00 366.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.25 366.75 Td (181,301) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 366.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.25 366.75 Td (242,054) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 351.75 Td (Other current assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.25 351.75 Td (340,571) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.25 351.75 Td (424,958) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 351.75 Td (460,156) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.25 351.75 Td (443,529) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.25 351.75 Td (463,636) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 336.75 Td (Non-current assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.25 336.75 Td (1,244,491) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.25 336.75 Td (1,434,593) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 424.25 336.75 Td (1,578,016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.25 336.75 Td (2,056,939) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.25 336.75 Td (2,234,860) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 321.73 Td (Total assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.00 321.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 322.25 321.73 Td (1,619,360) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 364.00 321.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 373.25 321.73 Td (1,961,873) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.00 321.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 424.25 321.73 Td (2,174,715) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.00 321.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 474.25 321.73 Td (2,681,769) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.00 321.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.25 321.73 Td (2,940,550) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 291.75 Td (Current liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.00 291.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.25 291.75 Td (450,527) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 364.00 291.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.25 291.75 Td (322,681) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.00 291.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 291.75 Td (298,047) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.00 291.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.25 291.75 Td (262,241) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 291.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.25 291.75 Td (250,216) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 276.75 Td (Non-current liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.25 276.75 Td (667,725) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.25 276.75 Td (990,301) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 424.25 276.75 Td (1,245,401) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.25 276.75 Td (1,401,586) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.25 276.75 Td (1,442,582) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 261.75 Td (Temporary equity) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.25 261.75 Td (223,926) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.25 261.75 Td (207,890) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 448.30 261.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 498.30 261.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.30 261.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 246.75 Td (CME Ltd. shareholders' equity) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.25 246.75 Td (279,794) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.25 246.75 Td (440,108) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 246.75 Td (626,061) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.25 246.75 Td (1,001,692) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.25 246.75 Td (1,226,879) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 231.75 Td (Noncontrolling interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.60 231.75 Td (\(2,612) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 231.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 393.30 231.75 Td (893) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.25 231.75 Td (5,206) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.25 231.75 Td (16,250) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.25 231.75 Td (20,873) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 216.73 Td (Total liabilities and equity) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.00 216.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 322.25 216.73 Td (1,619,360) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 364.00 216.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 373.25 216.73 Td (1,961,873) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.00 216.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 424.25 216.73 Td (2,174,715) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.00 216.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 474.25 216.73 Td (2,681,769) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.00 216.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.25 216.73 Td (2,940,550) Tj ET Q BT /F1 8.00 Tf ET endstream endobj 43 0 obj <>] /Rotate 0 /Contents 44 0 R>> endobj 44 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (19) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 723.60 Td (ITEM ) Tj ET Q q 0 0 0 rg BT 72.84 723.60 Td (7. ) Tj ET Q q 0 0 0 rg BT 85.50 723.60 Td (MANAGEMENT'S ) Tj ET Q q 0 0 0 rg BT 154.61 723.60 Td (DISCUSSION ) Tj ET Q q 0 0 0 rg BT 205.08 723.60 Td (AND ) Tj ET Q q 0 0 0 rg BT 223.97 723.60 Td (ANAL) Tj ET Q q 0 0 0 rg BT 245.90 723.60 Td (YSIS ) Tj ET Q q 0 0 0 rg BT 265.69 723.60 Td (OF) Tj ET Q q 0 0 0 rg BT 276.50 723.60 Td ( ) Tj ET Q q 0 0 0 rg BT 278.50 723.60 Td (FINANCIAL) Tj ET Q q 0 0 0 rg BT 323.40 723.60 Td ( ) Tj ET Q q 0 0 0 rg BT 325.40 723.60 Td (CONDITION ) Tj ET Q q 0 0 0 rg BT 374.07 723.60 Td (AND ) Tj ET Q q 0 0 0 rg BT 393.41 723.60 Td (RESUL) Tj ET Q q 0 0 0 rg BT 419.35 723.60 Td (TS ) Tj ET Q q 0 0 0 rg BT 431.13 723.60 Td (OF) Tj ET Q q 0 0 0 rg BT 441.95 723.60 Td ( ) Tj ET Q q 0 0 0 rg BT 443.95 723.60 Td (OPERA) Tj ET Q q 0 0 0 rg BT 471.35 723.60 Td (TIONS) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 708.00 Td (As ) Tj ET Q q 0 0 0 rg BT 60.48 708.00 Td (used ) Tj ET Q q 0 0 0 rg BT 77.24 708.00 Td (herein, ) Tj ET Q q 0 0 0 rg BT 101.32 708.00 Td (the ) Tj ET Q q 0 0 0 rg BT 113.18 708.00 Td (term ) Tj ET Q q 0 0 0 rg BT 129.93 708.00 Td (2015 ) Tj ET Q q 0 0 0 rg BT 151.57 708.00 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 191.43 708.00 Td (Notes ) Tj ET Q q 0 0 0 rg BT 215.74 708.00 Td (refers ) Tj ET Q q 0 0 0 rg BT 236.04 708.00 Td (to ) Tj ET Q q 0 0 0 rg BT 244.35 708.00 Td (our ) Tj ET Q q 0 0 0 rg BT 257.10 708.00 Td (5.0% ) Tj ET Q q 0 0 0 rg BT 275.86 708.00 Td (senior ) Tj ET Q q 0 0 0 rg BT 297.50 708.00 Td (convertible ) Tj ET Q q 0 0 0 rg BT 335.58 708.00 Td (notes ) Tj ET Q q 0 0 0 rg BT 354.55 708.00 Td (due ) Tj ET Q q 0 0 0 rg BT 368.20 708.00 Td (November ) Tj ET Q q 0 0 0 rg BT 404.05 708.00 Td (2015; ) Tj ET Q q 0 0 0 rg BT 424.37 708.00 Td (the ) Tj ET Q q 0 0 0 rg BT 436.23 708.00 Td (term ) Tj ET Q q 0 0 0 rg BT 452.98 708.00 Td (2016 ) Tj ET Q q 0 0 0 rg BT 474.62 708.00 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 494.94 708.00 Td (Rate ) Tj ET Q q 0 0 0 rg BT 511.69 708.00 Td (Notes ) Tj ET Q q 0 0 0 rg BT 535.99 708.00 Td (refers ) Tj ET Q q 0 0 0 rg BT 556.29 708.00 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 698.40 Td (our ) Tj ET Q q 0 0 0 rg BT 61.90 698.40 Td (redeemed ) Tj ET Q q 0 0 0 rg BT 94.73 698.40 Td (and ) Tj ET Q q 0 0 0 rg BT 108.03 698.40 Td (dischar) Tj ET Q q 0 0 0 rg BT 130.98 698.40 Td (ged ) Tj ET Q q 0 0 0 rg BT 144.27 698.40 Td (1) Tj ET Q q 0 0 0 rg BT 147.98 698.40 Td (1.625% ) Tj ET Q q 0 0 0 rg BT 174.38 698.40 Td (senior ) Tj ET Q q 0 0 0 rg BT 195.67 698.40 Td (notes ) Tj ET Q q 0 0 0 rg BT 214.30 698.40 Td (due ) Tj ET Q q 0 0 0 rg BT 227.59 698.40 Td (2016; ) Tj ET Q q 0 0 0 rg BT 247.55 698.40 Td (the ) Tj ET Q q 0 0 0 rg BT 259.07 698.40 Td (term ) Tj ET Q q 0 0 0 rg BT 275.47 698.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 296.76 698.40 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 316.72 698.40 Td (Rate ) Tj ET Q q 0 0 0 rg BT 333.12 698.40 Td (Notes ) Tj ET Q q 0 0 0 rg BT 357.08 698.40 Td (refers ) Tj ET Q q 0 0 0 rg BT 377.02 698.40 Td (to ) Tj ET Q q 0 0 0 rg BT 384.99 698.40 Td (our ) Tj ET Q q 0 0 0 rg BT 397.39 698.40 Td (redeemed ) Tj ET Q q 0 0 0 rg BT 430.22 698.40 Td (and ) Tj ET Q q 0 0 0 rg BT 443.51 698.40 Td (dischar) Tj ET Q q 0 0 0 rg BT 466.47 698.40 Td (ged ) Tj ET Q q 0 0 0 rg BT 479.76 698.40 Td (9.0% ) Tj ET Q q 0 0 0 rg BT 498.16 698.40 Td (senior ) Tj ET Q q 0 0 0 rg BT 519.46 698.40 Td (secured ) Tj ET Q q 0 0 0 rg BT 545.63 698.40 Td (notes ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 688.80 Td (due ) Tj ET Q q 0 0 0 rg BT 63.04 688.80 Td (2017 ) Tj ET Q q 0 0 0 rg BT 81.02 688.80 Td (issued ) Tj ET Q q 0 0 0 rg BT 103.01 688.80 Td (by ) Tj ET Q q 0 0 0 rg BT 112.99 688.80 Td (our ) Tj ET Q q 0 0 0 rg BT 125.64 688.80 Td (wholly ) Tj ET Q q 0 0 0 rg BT 149.85 688.80 Td (owned ) Tj ET Q q 0 0 0 rg BT 173.16 688.80 Td (subsidiary) Tj ET Q q 0 0 0 rg BT 205.53 688.80 Td (, ) Tj ET Q q 0 0 0 rg BT 209.52 688.80 Td (CET) Tj ET Q q 0 0 0 rg BT 224.48 688.80 Td ( ) Tj ET Q q 0 0 0 rg BT 226.47 688.80 Td (21 ) Tj ET Q q 0 0 0 rg BT 236.45 688.80 Td (spol. ) Tj ET Q q 0 0 0 rg BT 253.77 688.80 Td (s ) Tj ET Q q 0 0 0 rg BT 258.87 688.80 Td (r) Tj ET Q q 0 0 0 rg BT 261.09 688.80 Td (.o. ) Tj ET Q q 0 0 0 rg BT 271.08 688.80 Td (\(CET) Tj ET Q q 0 0 0 rg BT 292.26 688.80 Td ( ) Tj ET Q q 0 0 0 rg BT 294.24 688.80 Td (21\); ) Tj ET Q q 0 0 0 rg BT 312.67 688.80 Td (the ) Tj ET Q q 0 0 0 rg BT 324.43 688.80 Td (term ) Tj ET Q q 0 0 0 rg BT 341.07 688.80 Td ("2017 ) Tj ET Q q 0 0 0 rg BT 362.32 688.80 Td (PIK ) Tj ET Q q 0 0 0 rg BT 377.20 688.80 Td (Notes" ) Tj ET Q q 0 0 0 rg BT 401.11 688.80 Td (refers ) Tj ET Q q 0 0 0 rg BT 421.31 688.80 Td (to ) Tj ET Q q 0 0 0 rg BT 429.51 688.80 Td (the ) Tj ET Q q 0 0 0 rg BT 441.27 688.80 Td (15.0% ) Tj ET Q q 0 0 0 rg BT 463.92 688.80 Td (senior ) Tj ET Q q 0 0 0 rg BT 485.46 688.80 Td (secured ) Tj ET Q q 0 0 0 rg BT 511.87 688.80 Td (notes ) Tj ET Q q 0 0 0 rg BT 530.75 688.80 Td (due ) Tj ET Q q 0 0 0 rg BT 544.28 688.80 Td (2017; ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 679.20 Td (the ) Tj ET Q q 0 0 0 rg BT 60.93 679.20 Td (term ) Tj ET Q q 0 0 0 rg BT 77.25 679.20 Td ("2017 ) Tj ET Q q 0 0 0 rg BT 98.06 679.20 Td (T) Tj ET Q q 0 0 0 rg BT 102.38 679.20 Td (erm ) Tj ET Q q 0 0 0 rg BT 116.48 679.20 Td (Loan" ) Tj ET Q q 0 0 0 rg BT 137.84 679.20 Td (refers ) Tj ET Q q 0 0 0 rg BT 157.71 679.20 Td (to ) Tj ET Q q 0 0 0 rg BT 165.59 679.20 Td (the ) Tj ET Q q 0 0 0 rg BT 177.02 679.20 Td (15.0% ) Tj ET Q q 0 0 0 rg BT 199.35 679.20 Td (term ) Tj ET Q q 0 0 0 rg BT 215.67 679.20 Td (loan ) Tj ET Q q 0 0 0 rg BT 231.10 679.20 Td (due ) Tj ET Q q 0 0 0 rg BT 244.31 679.20 Td (2017 ) Tj ET Q q 0 0 0 rg BT 261.97 679.20 Td (funded ) Tj ET Q q 0 0 0 rg BT 285.84 679.20 Td (by ) Tj ET Q q 0 0 0 rg BT 295.38 679.20 Td (T) Tj ET Q q 0 0 0 rg BT 299.99 679.20 Td (ime ) Tj ET Q q 0 0 0 rg BT 313.52 679.20 Td (W) Tj ET Q q 0 0 0 rg BT 320.43 679.20 Td (arner ) Tj ET Q q 0 0 0 rg BT 338.52 679.20 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 352.40 679.20 Td (\("T) Tj ET Q q 0 0 0 rg BT 362.93 679.20 Td (ime ) Tj ET Q q 0 0 0 rg BT 376.47 679.20 Td (W) Tj ET Q q 0 0 0 rg BT 383.38 679.20 Td (arner"\); ) Tj ET Q q 0 0 0 rg BT 409.62 679.20 Td (the ) Tj ET Q q 0 0 0 rg BT 421.05 679.20 Td (term ) Tj ET Q q 0 0 0 rg BT 437.37 679.20 Td ("2017 ) Tj ET Q q 0 0 0 rg BT 458.29 679.20 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 493.29 679.20 Td (Credit ) Tj ET Q q 0 0 0 rg BT 514.94 679.20 Td (Facility" ) Tj ET Q q 0 0 0 rg BT 544.31 679.20 Td (refers ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 669.60 Td (to ) Tj ET Q q 0 0 0 rg BT 57.31 669.60 Td (our ) Tj ET Q q 0 0 0 rg BT 69.57 669.60 Td (senior ) Tj ET Q q 0 0 0 rg BT 90.71 669.60 Td (secured ) Tj ET Q q 0 0 0 rg BT 116.73 669.60 Td (floating ) Tj ET Q q 0 0 0 rg BT 143.21 669.60 Td (rate ) Tj ET Q q 0 0 0 rg BT 156.79 669.60 Td (revolving ) Tj ET Q q 0 0 0 rg BT 189.04 669.60 Td (credit ) Tj ET Q q 0 0 0 rg BT 208.84 669.60 Td (facility ) Tj ET Q q 0 0 0 rg BT 233.09 669.60 Td (due ) Tj ET Q q 0 0 0 rg BT 246.23 669.60 Td (2017 ) Tj ET Q q 0 0 0 rg BT 263.83 669.60 Td (with ) Tj ET Q q 0 0 0 rg BT 279.53 669.60 Td (T) Tj ET Q q 0 0 0 rg BT 284.13 669.60 Td (ime ) Tj ET Q q 0 0 0 rg BT 297.60 669.60 Td (W) Tj ET Q q 0 0 0 rg BT 304.51 669.60 Td (arner; ) Tj ET Q q 0 0 0 rg BT 324.76 669.60 Td (the ) Tj ET Q q 0 0 0 rg BT 336.12 669.60 Td (term ) Tj ET Q q 0 0 0 rg BT 352.38 669.60 Td ("2017 ) Tj ET Q q 0 0 0 rg BT 373.23 669.60 Td (Euro ) Tj ET Q q 0 0 0 rg BT 390.26 669.60 Td (T) Tj ET Q q 0 0 0 rg BT 394.59 669.60 Td (erm ) Tj ET Q q 0 0 0 rg BT 408.62 669.60 Td (Loan" ) Tj ET Q q 0 0 0 rg BT 429.91 669.60 Td (refers ) Tj ET Q q 0 0 0 rg BT 449.71 669.60 Td (to ) Tj ET Q q 0 0 0 rg BT 457.53 669.60 Td (the ) Tj ET Q q 0 0 0 rg BT 468.89 669.60 Td (floating ) Tj ET Q q 0 0 0 rg BT 495.37 669.60 Td (rate ) Tj ET Q q 0 0 0 rg BT 508.95 669.60 Td (senior ) Tj ET Q q 0 0 0 rg BT 530.09 669.60 Td (unsecured ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 660.00 Td (term ) Tj ET Q q 0 0 0 rg BT 66.47 660.00 Td (credit ) Tj ET Q q 0 0 0 rg BT 87.00 660.00 Td (facility ) Tj ET Q q 0 0 0 rg BT 111.96 660.00 Td (agreement ) Tj ET Q q 0 0 0 rg BT 147.59 660.00 Td (with ) Tj ET Q q 0 0 0 rg BT 164.13 660.00 Td (BNP) Tj ET Q q 0 0 0 rg BT 179.39 660.00 Td ( ) Tj ET Q q 0 0 0 rg BT 181.70 660.00 Td (Paribas ) Tj ET Q q 0 0 0 rg BT 207.57 660.00 Td (as ) Tj ET Q q 0 0 0 rg BT 216.54 660.00 Td (administrative ) Tj ET Q q 0 0 0 rg BT 264.62 660.00 Td (agent, ) Tj ET Q q 0 0 0 rg BT 286.26 660.00 Td (and ) Tj ET Q q 0 0 0 rg BT 299.95 660.00 Td (T) Tj ET Q q 0 0 0 rg BT 304.56 660.00 Td (ime ) Tj ET Q q 0 0 0 rg BT 318.70 660.00 Td (W) Tj ET Q q 0 0 0 rg BT 325.61 660.00 Td (arner ) Tj ET Q q 0 0 0 rg BT 344.35 660.00 Td (as ) Tj ET Q q 0 0 0 rg BT 353.33 660.00 Td (guarantor; ) Tj ET Q q 0 0 0 rg BT 388.52 660.00 Td (the ) Tj ET Q q 0 0 0 rg BT 400.60 660.00 Td (term ) Tj ET Q q 0 0 0 rg BT 417.58 660.00 Td (Senior ) Tj ET Q q 0 0 0 rg BT 444.33 660.00 Td (Debt ) Tj ET Q q 0 0 0 rg BT 465.74 660.00 Td (refers ) Tj ET Q q 0 0 0 rg BT 486.26 660.00 Td (collectively ) Tj ET Q q 0 0 0 rg BT 525.89 660.00 Td (to ) Tj ET Q q 0 0 0 rg BT 534.42 660.00 Td (the ) Tj ET Q q 0 0 0 rg BT 546.51 660.00 Td (2015 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 650.40 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 89.39 650.40 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 112.18 650.40 Td (2016 ) Tj ET Q q 0 0 0 rg BT 130.30 650.40 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 150.65 650.40 Td (Rate ) Tj ET Q q 0 0 0 rg BT 167.43 650.40 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 190.22 650.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 208.34 650.40 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 228.69 650.40 Td (Rate ) Tj ET Q q 0 0 0 rg BT 245.47 650.40 Td (Notes; ) Tj ET Q q 0 0 0 rg BT 268.48 650.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 286.60 650.40 Td (PIK ) Tj ET Q q 0 0 0 rg BT 301.62 650.40 Td (Notes; ) Tj ET Q q 0 0 0 rg BT 324.63 650.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 342.60 650.40 Td (T) Tj ET Q q 0 0 0 rg BT 346.92 650.40 Td (erm ) Tj ET Q q 0 0 0 rg BT 361.49 650.40 Td (Loan; ) Tj ET Q q 0 0 0 rg BT 382.27 650.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 400.39 650.40 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 435.85 650.40 Td (Credit ) Tj ET Q q 0 0 0 rg BT 457.97 650.40 Td (Facility ) Tj ET Q q 0 0 0 rg BT 484.53 650.40 Td (and ) Tj ET Q q 0 0 0 rg BT 498.20 650.40 Td (the ) Tj ET Q q 0 0 0 rg BT 510.10 650.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 528.22 650.40 Td (Euro ) Tj ET Q q 0 0 0 rg BT 545.74 650.40 Td (T) Tj ET Q q 0 0 0 rg BT 550.07 650.40 Td (erm ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 640.80 Td (Loan; ) Tj ET Q q 0 0 0 rg BT 70.55 640.80 Td (the ) Tj ET Q q 0 0 0 rg BT 82.71 640.80 Td (term ) Tj ET Q q 0 0 0 rg BT 99.76 640.80 Td ("Framework ) Tj ET Q q 0 0 0 rg BT 141.77 640.80 Td (Agreement" ) Tj ET Q q 0 0 0 rg BT 182.96 640.80 Td (refers ) Tj ET Q q 0 0 0 rg BT 203.56 640.80 Td (to ) Tj ET Q q 0 0 0 rg BT 212.17 640.80 Td (the ) Tj ET Q q 0 0 0 rg BT 224.34 640.80 Td (framework ) Tj ET Q q 0 0 0 rg BT 261.82 640.80 Td (agreement ) Tj ET Q q 0 0 0 rg BT 297.52 640.80 Td (dated ) Tj ET Q q 0 0 0 rg BT 317.24 640.80 Td (February ) Tj ET Q q 0 0 0 rg BT 348.50 640.80 Td (28, ) Tj ET Q q 0 0 0 rg BT 360.89 640.80 Td (2014 ) Tj ET Q q 0 0 0 rg BT 379.28 640.80 Td (among ) Tj ET Q q 0 0 0 rg BT 403.27 640.80 Td (T) Tj ET Q q 0 0 0 rg BT 407.88 640.80 Td (ime ) Tj ET Q q 0 0 0 rg BT 422.09 640.80 Td (W) Tj ET Q q 0 0 0 rg BT 429.00 640.80 Td (arner) Tj ET Q q 0 0 0 rg BT 445.11 640.80 Td (, ) Tj ET Q q 0 0 0 rg BT 449.33 640.80 Td (T) Tj ET Q q 0 0 0 rg BT 453.93 640.80 Td (ime ) Tj ET Q q 0 0 0 rg BT 468.15 640.80 Td (W) Tj ET Q q 0 0 0 rg BT 475.06 640.80 Td (arner ) Tj ET Q q 0 0 0 rg BT 493.88 640.80 Td (Media ) Tj ET Q q 0 0 0 rg BT 516.70 640.80 Td (Holdings ) Tj ET Q q 0 0 0 rg BT 548.43 640.80 Td (B.V) Tj ET Q q 0 0 0 rg BT 560.51 640.80 Td (. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 631.20 Td (\("TW) Tj ET Q q 0 0 0 rg BT 67.72 631.20 Td ( ) Tj ET Q q 0 0 0 rg BT 69.56 631.20 Td (Investor"\) ) Tj ET Q q 0 0 0 rg BT 103.54 631.20 Td (and ) Tj ET Q q 0 0 0 rg BT 116.93 631.20 Td (the ) Tj ET Q q 0 0 0 rg BT 128.54 631.20 Td (Company) Tj ET Q q 0 0 0 rg BT 159.13 631.20 Td (, ) Tj ET Q q 0 0 0 rg BT 162.97 631.20 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 192.36 631.20 Td (to ) Tj ET Q q 0 0 0 rg BT 200.42 631.20 Td (which ) Tj ET Q q 0 0 0 rg BT 221.81 631.20 Td (the ) Tj ET Q q 0 0 0 rg BT 233.42 631.20 Td (Company ) Tj ET Q q 0 0 0 rg BT 266.37 631.20 Td (conducted ) Tj ET Q q 0 0 0 rg BT 301.08 631.20 Td (a ) Tj ET Q q 0 0 0 rg BT 306.47 631.20 Td (rights ) Tj ET Q q 0 0 0 rg BT 326.53 631.20 Td (of) Tj ET Q q 0 0 0 rg BT 333.05 631.20 Td (fering ) Tj ET Q q 0 0 0 rg BT 353.99 631.20 Td (\(the ) Tj ET Q q 0 0 0 rg BT 368.26 631.20 Td ("Rights ) Tj ET Q q 0 0 0 rg BT 394.26 631.20 Td (Of) Tj ET Q q 0 0 0 rg BT 402.56 631.20 Td (fering"\) ) Tj ET Q q 0 0 0 rg BT 429.43 631.20 Td (and ) Tj ET Q q 0 0 0 rg BT 442.82 631.20 Td (certain ) Tj ET Q q 0 0 0 rg BT 466.42 631.20 Td (related ) Tj ET Q q 0 0 0 rg BT 490.02 631.20 Td (financing ) Tj ET Q q 0 0 0 rg BT 522.06 631.20 Td (transactions; ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 621.60 Td (the ) Tj ET Q q 0 0 0 rg BT 60.81 621.60 Td (term ) Tj ET Q q 0 0 0 rg BT 77.01 621.60 Td ("2014 ) Tj ET Q q 0 0 0 rg BT 97.71 621.60 Td (W) Tj ET Q q 0 0 0 rg BT 104.62 621.60 Td (arrants" ) Tj ET Q q 0 0 0 rg BT 131.19 621.60 Td (refers ) Tj ET Q q 0 0 0 rg BT 150.93 621.60 Td (collectively ) Tj ET Q q 0 0 0 rg BT 189.79 621.60 Td (to ) Tj ET Q q 0 0 0 rg BT 197.55 621.60 Td (the ) Tj ET Q q 0 0 0 rg BT 208.86 621.60 Td (warrants ) Tj ET Q q 0 0 0 rg BT 237.94 621.60 Td (issued ) Tj ET Q q 0 0 0 rg BT 259.48 621.60 Td (under ) Tj ET Q q 0 0 0 rg BT 279.24 621.60 Td (the ) Tj ET Q q 0 0 0 rg BT 290.55 621.60 Td (Rights ) Tj ET Q q 0 0 0 rg BT 312.98 621.60 Td (Of) Tj ET Q q 0 0 0 rg BT 321.28 621.60 Td (fering ) Tj ET Q q 0 0 0 rg BT 341.92 621.60 Td (\(the ) Tj ET Q q 0 0 0 rg BT 355.90 621.60 Td ("Unit ) Tj ET Q q 0 0 0 rg BT 374.81 621.60 Td (W) Tj ET Q q 0 0 0 rg BT 381.72 621.60 Td (arrants"\) ) Tj ET Q q 0 0 0 rg BT 410.96 621.60 Td (and ) Tj ET Q q 0 0 0 rg BT 424.05 621.60 Td (to ) Tj ET Q q 0 0 0 rg BT 431.81 621.60 Td (warrants ) Tj ET Q q 0 0 0 rg BT 460.89 621.60 Td (issued ) Tj ET Q q 0 0 0 rg BT 482.43 621.60 Td (to ) Tj ET Q q 0 0 0 rg BT 490.08 621.60 Td (T) Tj ET Q q 0 0 0 rg BT 494.69 621.60 Td (ime ) Tj ET Q q 0 0 0 rg BT 508.11 621.60 Td (W) Tj ET Q q 0 0 0 rg BT 515.02 621.60 Td (arner ) Tj ET Q q 0 0 0 rg BT 532.99 621.60 Td (in ) Tj ET Q q 0 0 0 rg BT 540.75 621.60 Td (certain ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 612.00 Td (related ) Tj ET Q q 0 0 0 rg BT 73.07 612.00 Td (financing ) Tj ET Q q 0 0 0 rg BT 105.09 612.00 Td (transactions ) Tj ET Q q 0 0 0 rg BT 145.11 612.00 Td (\(the ) Tj ET Q q 0 0 0 rg BT 159.36 612.00 Td ("Initial ) Tj ET Q q 0 0 0 rg BT 183.41 612.00 Td (W) Tj ET Q q 0 0 0 rg BT 190.32 612.00 Td (arrants"\); ) Tj ET Q q 0 0 0 rg BT 222.05 612.00 Td (the ) Tj ET Q q 0 0 0 rg BT 233.63 612.00 Td (term ) Tj ET Q q 0 0 0 rg BT 250.10 612.00 Td (2015 ) Tj ET Q q 0 0 0 rg BT 271.46 612.00 Td (Refinancing ) Tj ET Q q 0 0 0 rg BT 312.37 612.00 Td (Commitment ) Tj ET Q q 0 0 0 rg BT 356.40 612.00 Td (Letter ) Tj ET Q q 0 0 0 rg BT 380.86 612.00 Td (refers ) Tj ET Q q 0 0 0 rg BT 400.87 612.00 Td (to ) Tj ET Q q 0 0 0 rg BT 408.91 612.00 Td (a ) Tj ET Q q 0 0 0 rg BT 414.27 612.00 Td (commitment ) Tj ET Q q 0 0 0 rg BT 456.51 612.00 Td (letter ) Tj ET Q q 0 0 0 rg BT 474.76 612.00 Td (executed ) Tj ET Q q 0 0 0 rg BT 504.99 612.00 Td (with ) Tj ET Q q 0 0 0 rg BT 520.89 612.00 Td (T) Tj ET Q q 0 0 0 rg BT 525.50 612.00 Td (ime ) Tj ET Q q 0 0 0 rg BT 539.17 612.00 Td (W) Tj ET Q q 0 0 0 rg BT 546.08 612.00 Td (arner ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 602.40 Td (whereby ) Tj ET Q q 0 0 0 rg BT 78.87 602.40 Td (T) Tj ET Q q 0 0 0 rg BT 83.48 602.40 Td (ime ) Tj ET Q q 0 0 0 rg BT 97.31 602.40 Td (W) Tj ET Q q 0 0 0 rg BT 104.22 602.40 Td (arner ) Tj ET Q q 0 0 0 rg BT 122.62 602.40 Td (agreed ) Tj ET Q q 0 0 0 rg BT 145.91 602.40 Td (to ) Tj ET Q q 0 0 0 rg BT 154.11 602.40 Td (provide ) Tj ET Q q 0 0 0 rg BT 180.52 602.40 Td (or ) Tj ET Q q 0 0 0 rg BT 189.16 602.40 Td (assist ) Tj ET Q q 0 0 0 rg BT 208.46 602.40 Td (with ) Tj ET Q q 0 0 0 rg BT 224.66 602.40 Td (arranging ) Tj ET Q q 0 0 0 rg BT 257.29 602.40 Td (a ) Tj ET Q q 0 0 0 rg BT 262.81 602.40 Td (loan ) Tj ET Q q 0 0 0 rg BT 278.56 602.40 Td (facility ) Tj ET Q q 0 0 0 rg BT 303.19 602.40 Td (to ) Tj ET Q q 0 0 0 rg BT 311.38 602.40 Td (refinance ) Tj ET Q q 0 0 0 rg BT 343.11 602.40 Td (the ) Tj ET Q q 0 0 0 rg BT 354.86 602.40 Td (2015 ) Tj ET Q q 0 0 0 rg BT 372.83 602.40 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 412.58 602.40 Td (Notes ) Tj ET Q q 0 0 0 rg BT 433.21 602.40 Td (at ) Tj ET Q q 0 0 0 rg BT 440.96 602.40 Td (or ) Tj ET Q q 0 0 0 rg BT 449.60 602.40 Td (immediately ) Tj ET Q q 0 0 0 rg BT 491.56 602.40 Td (prior ) Tj ET Q q 0 0 0 rg BT 509.08 602.40 Td (to ) Tj ET Q q 0 0 0 rg BT 517.28 602.40 Td (their ) Tj ET Q q 0 0 0 rg BT 533.92 602.40 Td (maturity) Tj ET Q q 0 0 0 rg BT 560.50 602.40 Td (. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 586.80 Td (The ) Tj ET Q q 0 0 0 rg BT 63.94 586.80 Td (exchange ) Tj ET Q q 0 0 0 rg BT 96.14 586.80 Td (rates ) Tj ET Q q 0 0 0 rg BT 113.24 586.80 Td (used ) Tj ET Q q 0 0 0 rg BT 129.91 586.80 Td (in ) Tj ET Q q 0 0 0 rg BT 138.13 586.80 Td (this ) Tj ET Q q 0 0 0 rg BT 151.69 586.80 Td (report ) Tj ET Q q 0 0 0 rg BT 172.79 586.80 Td (are ) Tj ET Q q 0 0 0 rg BT 184.55 586.80 Td (as ) Tj ET Q q 0 0 0 rg BT 193.22 586.80 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 200.99 586.80 Td (December31, ) Tj ET Q q 0 0 0 rg BT 247.86 586.80 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 263.86 586.80 Td (, ) Tj ET Q q 0 0 0 rg BT 267.86 586.80 Td (unless ) Tj ET Q q 0 0 0 rg BT 289.86 586.80 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 322.96 586.80 Td (indicated.) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 568.20 Td (Contents) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 549.60 Td (I. Executive Summary) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 531.00 Td (II. ) Tj ET Q q 0 0 0 rg BT 59.43 531.00 Td (Analysis of Results of Operations and Financial Position) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 512.40 Td (III. Liquidity and Capital Resources) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 493.80 Td (IV) Tj ET Q q 0 0 0 rg BT 56.92 493.80 Td (. Critical ) Tj ET Q q 0 0 0 rg BT 87.51 493.80 Td (Accounting Policies and Estimates) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 475.20 Td (V) Tj ET Q q 0 0 0 rg BT 53.80 475.20 Td (. Related Party Matters) Tj ET Q endstream endobj 45 0 obj <>] /Rotate 0 /Contents 46 0 R>> endobj 46 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (20) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 723.60 Td (I. ) Tj ET Q q 0 0 0 rg BT 76.50 723.60 Td (Executive ) Tj ET Q q 0 0 0 rg BT 111.82 723.60 Td (Summary) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 705.00 Td (CME ) Tj ET Q q 0 0 0 rg BT 68.39 705.00 Td (Strategy) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 689.40 Td (Our ) Tj ET Q q 0 0 0 rg BT 64.17 689.40 Td (operations ) Tj ET Q q 0 0 0 rg BT 99.73 689.40 Td (comprise ) Tj ET Q q 0 0 0 rg BT 131.28 689.40 Td (a ) Tj ET Q q 0 0 0 rg BT 137.07 689.40 Td (unique ) Tj ET Q q 0 0 0 rg BT 161.07 689.40 Td (collection ) Tj ET Q q 0 0 0 rg BT 194.85 689.40 Td (of ) Tj ET Q q 0 0 0 rg BT 203.74 689.40 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 236.63 689.40 Td (assets ) Tj ET Q q 0 0 0 rg BT 257.52 689.40 Td (across ) Tj ET Q q 0 0 0 rg BT 279.74 689.40 Td (Central ) Tj ET Q q 0 0 0 rg BT 305.52 689.40 Td (and ) Tj ET Q q 0 0 0 rg BT 319.30 689.40 Td (Eastern ) Tj ET Q q 0 0 0 rg BT 345.52 689.40 Td (Europe. ) Tj ET Q q 0 0 0 rg BT 372.70 689.40 Td (The ) Tj ET Q q 0 0 0 rg BT 387.37 689.40 Td (operations ) Tj ET Q q 0 0 0 rg BT 422.92 689.40 Td (in ) Tj ET Q q 0 0 0 rg BT 431.38 689.40 Td (each ) Tj ET Q q 0 0 0 rg BT 448.26 689.40 Td (country ) Tj ET Q q 0 0 0 rg BT 474.93 689.40 Td (enjoy ) Tj ET Q q 0 0 0 rg BT 494.93 689.40 Td (very ) Tj ET Q q 0 0 0 rg BT 511.38 689.40 Td (strong ) Tj ET Q q 0 0 0 rg BT 533.61 689.40 Td (positions ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 679.80 Td (due ) Tj ET Q q 0 0 0 rg BT 63.21 679.80 Td (to ) Tj ET Q q 0 0 0 rg BT 71.59 679.80 Td (audience ) Tj ET Q q 0 0 0 rg BT 102.17 679.80 Td (share ) Tj ET Q q 0 0 0 rg BT 121.20 679.80 Td (leadership, ) Tj ET Q q 0 0 0 rg BT 158.23 679.80 Td (brand ) Tj ET Q q 0 0 0 rg BT 178.61 679.80 Td (strength, ) Tj ET Q q 0 0 0 rg BT 208.54 679.80 Td (strong ) Tj ET Q q 0 0 0 rg BT 230.69 679.80 Td (local ) Tj ET Q q 0 0 0 rg BT 248.39 679.80 Td (content, ) Tj ET Q q 0 0 0 rg BT 276.10 679.80 Td (and ) Tj ET Q q 0 0 0 rg BT 289.80 679.80 Td (the ) Tj ET Q q 0 0 0 rg BT 301.73 679.80 Td (depth ) Tj ET Q q 0 0 0 rg BT 321.66 679.80 Td (and ) Tj ET Q q 0 0 0 rg BT 335.37 679.80 Td (experience ) Tj ET Q q 0 0 0 rg BT 372.17 679.80 Td (of ) Tj ET Q q 0 0 0 rg BT 380.99 679.80 Td (country ) Tj ET Q q 0 0 0 rg BT 407.58 679.80 Td (management. ) Tj ET Q q 0 0 0 rg BT 452.45 679.80 Td (The ) Tj ET Q q 0 0 0 rg BT 467.05 679.80 Td (reach ) Tj ET Q q 0 0 0 rg BT 486.52 679.80 Td (and ) Tj ET Q q 0 0 0 rg BT 500.23 679.80 Td (af) Tj ET Q q 0 0 0 rg BT 506.30 679.80 Td (finity ) Tj ET Q q 0 0 0 rg BT 525.79 679.80 Td (we ) Tj ET Q q 0 0 0 rg BT 537.27 679.80 Td (are ) Tj ET Q q 0 0 0 rg BT 549.19 679.80 Td (able ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 670.20 Td (to ) Tj ET Q q 0 0 0 rg BT 57.59 670.20 Td (provide ) Tj ET Q q 0 0 0 rg BT 83.89 670.20 Td (advertisers ) Tj ET Q q 0 0 0 rg BT 120.41 670.20 Td (supports ) Tj ET Q q 0 0 0 rg BT 149.39 670.20 Td (our ) Tj ET Q q 0 0 0 rg BT 161.92 670.20 Td (premium ) Tj ET Q q 0 0 0 rg BT 192.66 670.20 Td (pricing ) Tj ET Q q 0 0 0 rg BT 217.19 670.20 Td (model. ) Tj ET Q q 0 0 0 rg BT 240.92 670.20 Td (These ) Tj ET Q q 0 0 0 rg BT 261.88 670.20 Td (competitive ) Tj ET Q q 0 0 0 rg BT 301.51 670.20 Td (advantages ) Tj ET Q q 0 0 0 rg BT 338.92 670.20 Td (should ) Tj ET Q q 0 0 0 rg BT 362.12 670.20 Td (provide ) Tj ET Q q 0 0 0 rg BT 388.42 670.20 Td (the ) Tj ET Q q 0 0 0 rg BT 400.06 670.20 Td (opportunity ) Tj ET Q q 0 0 0 rg BT 439.26 670.20 Td (for ) Tj ET Q q 0 0 0 rg BT 450.45 670.20 Td (us ) Tj ET Q q 0 0 0 rg BT 459.43 670.20 Td (to ) Tj ET Q q 0 0 0 rg BT 467.52 670.20 Td (benefit ) Tj ET Q q 0 0 0 rg BT 491.59 670.20 Td (as ) Tj ET Q q 0 0 0 rg BT 500.12 670.20 Td (and ) Tj ET Q q 0 0 0 rg BT 513.54 670.20 Td (when ) Tj ET Q q 0 0 0 rg BT 532.73 670.20 Td (sustained ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 660.60 Td (economic ) Tj ET Q q 0 0 0 rg BT 82.60 660.60 Td (growth ) Tj ET Q q 0 0 0 rg BT 107.26 660.60 Td (resumes ) Tj ET Q q 0 0 0 rg BT 135.48 660.60 Td (in ) Tj ET Q q 0 0 0 rg BT 143.70 660.60 Td (the ) Tj ET Q q 0 0 0 rg BT 155.47 660.60 Td (countries ) Tj ET Q q 0 0 0 rg BT 186.80 660.60 Td (in ) Tj ET Q q 0 0 0 rg BT 195.02 660.60 Td (which ) Tj ET Q q 0 0 0 rg BT 216.57 660.60 Td (we ) Tj ET Q q 0 0 0 rg BT 227.90 660.60 Td (operate.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 645.00 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 645.00 Td (e ) Tj ET Q q 0 0 0 rg BT 61.88 645.00 Td (are ) Tj ET Q q 0 0 0 rg BT 73.56 645.00 Td (focused ) Tj ET Q q 0 0 0 rg BT 100.36 645.00 Td (on ) Tj ET Q q 0 0 0 rg BT 110.28 645.00 Td (enhancing ) Tj ET Q q 0 0 0 rg BT 145.08 645.00 Td (the ) Tj ET Q q 0 0 0 rg BT 156.77 645.00 Td (performance ) Tj ET Q q 0 0 0 rg BT 199.10 645.00 Td (of ) Tj ET Q q 0 0 0 rg BT 207.69 645.00 Td (our ) Tj ET Q q 0 0 0 rg BT 220.27 645.00 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 252.84 645.00 Td (assets ) Tj ET Q q 0 0 0 rg BT 273.42 645.00 Td (in ) Tj ET Q q 0 0 0 rg BT 281.57 645.00 Td (each ) Tj ET Q q 0 0 0 rg BT 298.14 645.00 Td (country ) Tj ET Q q 0 0 0 rg BT 324.49 645.00 Td (over ) Tj ET Q q 0 0 0 rg BT 340.63 645.00 Td (the ) Tj ET Q q 0 0 0 rg BT 352.32 645.00 Td (short- ) Tj ET Q q 0 0 0 rg BT 372.90 645.00 Td (and ) Tj ET Q q 0 0 0 rg BT 386.37 645.00 Td (medium-term, ) Tj ET Q q 0 0 0 rg BT 433.83 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0 rg BT 311.55 635.40 Td (elements ) Tj ET Q q 0 0 0 rg BT 341.98 635.40 Td (of ) Tj ET Q q 0 0 0 rg BT 350.65 635.40 Td (our ) Tj ET Q q 0 0 0 rg BT 363.31 635.40 Td (strategy ) Tj ET Q q 0 0 0 rg BT 390.64 635.40 Td (are ) Tj ET Q q 0 0 0 rg BT 402.40 635.40 Td (as ) Tj ET Q q 0 0 0 rg BT 411.07 635.40 Td (follows:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 622.80 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 622.80 Td (maintaining ) Tj ET Q q 0 0 0 rg BT 125.71 622.80 Td (or ) Tj ET Q q 0 0 0 rg BT 134.38 622.80 Td (increasing ) Tj ET Q q 0 0 0 rg BT 169.25 622.80 Td (our ) Tj ET Q q 0 0 0 rg BT 181.92 622.80 Td (audience ) Tj ET Q q 0 0 0 rg BT 212.34 622.80 Td (and ) Tj ET Q q 0 0 0 rg BT 225.89 622.80 Td (advertising ) Tj ET Q q 0 0 0 rg BT 263.44 622.80 Td (market ) Tj ET Q q 0 0 0 rg BT 287.65 622.80 Td (shares ) Tj ET Q q 0 0 0 rg BT 309.64 622.80 Td (in ) Tj ET Q q 0 0 0 rg BT 317.87 622.80 Td (all ) Tj ET Q q 0 0 0 rg BT 327.86 622.80 Td (of ) Tj ET Q q 0 0 0 rg BT 336.53 622.80 Td (our ) Tj ET Q q 0 0 0 rg BT 349.19 622.80 Td (markets;) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 610.20 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 610.20 Td (leveraging ) Tj ET Q q 0 0 0 rg BT 121.26 610.20 Td (popular ) Tj ET Q q 0 0 0 rg BT 147.70 610.20 Td (content;) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 597.60 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 597.60 Td (driving ) Tj ET Q q 0 0 0 rg BT 110.61 597.60 Td (growth ) Tj ET Q q 0 0 0 rg BT 135.27 597.60 Td (in ) Tj ET Q q 0 0 0 rg BT 143.50 597.60 Td (advertising ) Tj ET Q q 0 0 0 rg BT 181.04 597.60 Td (revenues ) Tj ET Q q 0 0 0 rg BT 211.47 597.60 Td (through ) Tj ET Q q 0 0 0 rg BT 238.36 597.60 Td (our ) Tj ET Q q 0 0 0 rg BT 251.02 597.60 Td (pricing ) Tj ET Q q 0 0 0 rg BT 275.68 597.60 Td (strategies;) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 585.00 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 585.00 Td (optimizing ) Tj ET Q q 0 0 0 rg BT 122.09 585.00 Td (content ) Tj ET Q q 0 0 0 rg BT 147.57 585.00 Td (costs ) Tj ET Q q 0 0 0 rg BT 165.50 585.00 Td (through ) Tj ET Q q 0 0 0 rg BT 192.32 585.00 Td (the ) Tj ET Q q 0 0 0 rg BT 204.02 585.00 Td (most ) Tj ET Q q 0 0 0 rg BT 221.51 585.00 Td (ef) Tj ET Q q 0 0 0 rg BT 227.58 585.00 Td (ficient ) Tj ET Q q 0 0 0 rg BT 249.95 585.00 Td (use ) Tj ET Q q 0 0 0 rg BT 262.54 585.00 Td (of ) Tj ET Q q 0 0 0 rg BT 271.14 585.00 Td (our ) Tj ET Q q 0 0 0 rg BT 283.73 585.00 Td (programming ) Tj ET Q q 0 0 0 rg BT 329.21 585.00 Td (library ) Tj ET Q q 0 0 0 rg BT 352.46 585.00 Td (and ) Tj ET Q q 0 0 0 rg BT 365.95 585.00 Td (reducing ) Tj ET Q q 0 0 0 rg BT 395.87 585.00 Td (the ) Tj ET Q q 0 0 0 rg BT 407.57 585.00 Td (cost ) Tj ET Q q 0 0 0 rg BT 422.39 585.00 Td (of ) Tj ET Q q 0 0 0 rg BT 430.98 585.00 Td (foreign ) Tj ET Q q 0 0 0 rg BT 456.01 585.00 Td (programming ) Tj ET Q q 0 0 0 rg BT 501.49 585.00 Td (while ) Tj ET Q q 0 0 0 rg BT 521.20 585.00 Td (safeguarding ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 575.40 Td (our ) Tj ET Q q 0 0 0 rg BT 98.16 575.40 Td (brands ) Tj ET Q q 0 0 0 rg BT 121.49 575.40 Td (and ) Tj ET Q q 0 0 0 rg BT 135.04 575.40 Td (competitive ) Tj ET Q q 0 0 0 rg BT 174.81 575.40 Td (strengths; ) Tj ET Q q 0 0 0 rg BT 207.92 575.40 Td (and) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 562.80 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 562.80 Td (maintaining ) Tj ET Q q 0 0 0 rg BT 125.71 562.80 Td (a ) Tj ET Q q 0 0 0 rg BT 131.27 562.80 Td (strict ) Tj ET Q q 0 0 0 rg BT 149.26 562.80 Td (cost ) Tj ET Q q 0 0 0 rg BT 164.15 562.80 Td (discipline ) Tj ET Q q 0 0 0 rg BT 197.25 562.80 Td (by ) Tj ET Q q 0 0 0 rg BT 207.25 562.80 Td (controlling ) Tj ET Q q 0 0 0 rg BT 244.36 562.80 Td (other ) Tj ET Q q 0 0 0 rg BT 262.80 562.80 Td (expenses.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 547.20 Td (As ) Tj ET Q q 0 0 0 rg BT 60.46 547.20 Td (market ) Tj ET Q q 0 0 0 rg BT 84.75 547.20 Td (leaders ) Tj ET Q q 0 0 0 rg BT 109.47 547.20 Td (with ) Tj ET Q q 0 0 0 rg BT 125.77 547.20 Td (experienced ) Tj ET Q q 0 0 0 rg BT 166.48 547.20 Td (management ) Tj ET Q q 0 0 0 rg BT 209.43 547.20 Td (teams ) Tj ET Q q 0 0 0 rg BT 230.16 547.20 Td (in ) Tj ET Q q 0 0 0 rg BT 238.46 547.20 Td (each ) Tj ET Q q 0 0 0 rg BT 255.18 547.20 Td (country) Tj ET Q q 0 0 0 rg BT 279.10 547.20 Td (, ) Tj ET Q q 0 0 0 rg BT 283.17 547.20 Td (we ) Tj ET Q q 0 0 0 rg BT 294.58 547.20 Td (are ) Tj ET Q q 0 0 0 rg BT 306.41 547.20 Td (uniquely ) Tj ET Q q 0 0 0 rg BT 336.48 547.20 Td (positioned ) Tj ET Q q 0 0 0 rg BT 371.89 547.20 Td (to ) Tj ET Q q 0 0 0 rg BT 380.18 547.20 Td (timely ) Tj ET Q q 0 0 0 rg BT 402.70 547.20 Td (identify ) Tj ET Q q 0 0 0 rg BT 429.66 547.20 Td (new ) Tj ET Q q 0 0 0 rg BT 445.06 547.20 Td (challenges ) Tj ET Q q 0 0 0 rg BT 480.89 547.20 Td (and ) Tj ET Q q 0 0 0 rg BT 494.52 547.20 Td (adjust ) Tj ET Q q 0 0 0 rg BT 515.70 547.20 Td (our ) Tj ET Q q 0 0 0 rg BT 528.44 547.20 Td (strategy ) Tj ET Q q 0 0 0 rg BT 555.83 547.20 Td (as ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 537.60 Td (new ) Tj ET Q q 0 0 0 rg BT 64.83 537.60 Td (opportunities ) Tj ET Q q 0 0 0 rg BT 109.05 537.60 Td (or ) Tj ET Q q 0 0 0 rg BT 117.71 537.60 Td (threats ) Tj ET Q q 0 0 0 rg BT 141.04 537.60 Td (arise.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 519.00 Td (Summary ) Tj ET Q q 0 0 0 rg BT 81.72 519.00 Td (of ) Tj ET Q q 0 0 0 rg BT 89.94 519.00 Td (Results) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 503.40 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 503.40 Td (e ) Tj ET Q q 0 0 0 rg BT 61.61 503.40 Td (manage ) Tj ET Q q 0 0 0 rg BT 88.13 503.40 Td (our ) Tj ET Q q 0 0 0 rg BT 100.44 503.40 Td (business ) Tj ET Q q 0 0 0 rg BT 129.20 503.40 Td (on ) Tj ET Q q 0 0 0 rg BT 138.85 503.40 Td (a ) Tj ET Q q 0 0 0 rg BT 144.04 503.40 Td (geographical ) Tj ET Q q 0 0 0 rg BT 187.00 503.40 Td (basis ) Tj ET Q q 0 0 0 rg BT 204.65 503.40 Td (with ) Tj ET Q q 0 0 0 rg BT 220.52 503.40 Td (six ) Tj ET Q q 0 0 0 rg BT 231.50 503.40 Td (operating ) Tj ET Q q 0 0 0 rg BT 263.36 503.40 Td (segments: ) Tj ET Q q 0 0 0 rg BT 297.00 503.40 Td (Bulgaria, ) Tj ET Q q 0 0 0 rg BT 328.19 503.40 Td (Croatia, ) Tj ET Q q 0 0 0 rg BT 355.39 503.40 Td (the ) Tj ET Q q 0 0 0 rg BT 366.81 503.40 Td (Czech ) Tj ET Q q 0 0 0 rg BT 388.44 503.40 Td (Republic, ) Tj ET Q q 0 0 0 rg BT 420.97 503.40 Td (Romania, ) Tj ET Q q 0 0 0 rg BT 453.50 503.40 Td (the ) Tj ET Q q 0 0 0 rg BT 464.92 503.40 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 488.79 503.40 Td (Republic ) Tj ET Q q 0 0 0 rg BT 519.32 503.40 Td (and ) Tj ET Q q 0 0 0 rg BT 532.52 503.40 Td (Slovenia. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 493.80 Td (These ) Tj ET Q q 0 0 0 rg BT 70.83 493.80 Td (operating ) Tj ET Q q 0 0 0 rg BT 103.26 493.80 Td (segments, ) Tj ET Q q 0 0 0 rg BT 137.26 493.80 Td (which ) Tj ET Q q 0 0 0 rg BT 159.04 493.80 Td (are ) Tj ET Q q 0 0 0 rg BT 171.03 493.80 Td (also ) Tj ET Q q 0 0 0 rg BT 186.14 493.80 Td (our ) Tj ET Q q 0 0 0 rg BT 199.03 493.80 Td (reportable ) Tj ET Q q 0 0 0 rg BT 233.68 493.80 Td (segments, ) Tj ET Q q 0 0 0 rg BT 267.68 493.80 Td (reflect ) Tj ET Q q 0 0 0 rg BT 290.33 493.80 Td (how ) Tj ET Q q 0 0 0 rg BT 306.34 493.80 Td (our ) Tj ET Q q 0 0 0 rg BT 319.23 493.80 Td (operating ) Tj ET Q q 0 0 0 rg BT 351.66 493.80 Td (performance ) Tj ET Q q 0 0 0 rg BT 394.31 493.80 Td (is ) Tj ET Q q 0 0 0 rg BT 401.87 493.80 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 434.74 493.80 Td (by ) Tj ET Q q 0 0 0 rg BT 444.97 493.80 Td (our ) Tj ET Q q 0 0 0 rg BT 457.86 493.80 Td (chief ) Tj ET Q q 0 0 0 rg BT 476.07 493.80 Td (operating ) Tj ET Q q 0 0 0 rg BT 508.51 493.80 Td (decision ) Tj ET Q q 0 0 0 rg BT 537.39 493.80 Td (makers, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 484.20 Td (how ) Tj ET Q q 0 0 0 rg BT 65.28 484.20 Td (our ) Tj ET Q q 0 0 0 rg BT 77.94 484.20 Td (operations ) Tj ET Q q 0 0 0 rg BT 113.27 484.20 Td (are ) Tj ET Q q 0 0 0 rg BT 125.03 484.20 Td (managed ) Tj ET Q q 0 0 0 rg BT 155.91 484.20 Td (by ) Tj ET Q q 0 0 0 rg BT 165.91 484.20 Td (segment ) Tj ET Q q 0 0 0 rg BT 194.57 484.20 Td (managers ) Tj ET Q q 0 0 0 rg BT 227.22 484.20 Td (and ) Tj ET Q q 0 0 0 rg BT 240.77 484.20 Td (the ) Tj ET Q q 0 0 0 rg BT 252.54 484.20 Td (structure ) Tj ET Q q 0 0 0 rg BT 282.53 484.20 Td (of ) Tj ET Q q 0 0 0 rg BT 291.20 484.20 Td (our ) Tj ET Q q 0 0 0 rg BT 303.86 484.20 Td (internal ) Tj ET Q q 0 0 0 rg BT 330.29 484.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 360.28 484.20 Td (reporting. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 468.60 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 468.60 Td (e ) Tj ET Q q 0 0 0 rg BT 62.19 468.60 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 91.08 468.60 Td (the ) Tj ET Q q 0 0 0 rg BT 103.08 468.60 Td (performance ) Tj ET Q q 0 0 0 rg BT 145.73 468.60 Td (of ) Tj ET Q q 0 0 0 rg BT 154.63 468.60 Td (our ) Tj ET Q q 0 0 0 rg BT 167.53 468.60 Td (segments ) Tj ET Q q 0 0 0 rg BT 199.54 468.60 Td (based ) Tj ET Q q 0 0 0 rg BT 219.98 468.60 Td (on ) Tj ET Q q 0 0 0 rg BT 230.22 468.60 Td (Net ) Tj ET Q q 0 0 0 rg BT 244.00 468.60 Td (Revenues ) Tj ET Q q 0 0 0 rg BT 277.34 468.60 Td (and ) Tj ET Q q 0 0 0 rg BT 291.12 468.60 Td (OIBDA. ) Tj ET Q q 0 0 0 rg BT 320.69 468.60 Td (OIBDA, ) Tj ET Q q 0 0 0 rg BT 350.25 468.60 Td (which ) Tj ET Q q 0 0 0 rg BT 372.04 468.60 Td (includes ) Tj ET Q q 0 0 0 rg BT 400.93 468.60 Td (amortization ) Tj ET Q q 0 0 0 rg BT 443.59 468.60 Td (and ) Tj ET Q q 0 0 0 rg BT 457.38 468.60 Td (impairment ) Tj ET Q q 0 0 0 rg BT 496.49 468.60 Td (of ) Tj ET Q q 0 0 0 rg BT 505.39 468.60 Td (program ) Tj ET Q q 0 0 0 rg BT 534.72 468.60 Td (rights, ) Tj ET Q q 0 0 0 rg BT 557.18 468.60 Td (is ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 459.00 Td (determined ) Tj ET Q q 0 0 0 rg BT 87.22 459.00 Td (as ) Tj ET Q q 0 0 0 rg BT 95.63 459.00 Td (operating ) Tj ET Q q 0 0 0 rg BT 127.58 459.00 Td (income ) Tj ET Q q 0 0 0 rg BT 152.87 459.00 Td (/ ) Tj ET Q q 0 0 0 rg BT 156.83 459.00 Td (loss ) Tj ET Q q 0 0 0 rg BT 171.02 459.00 Td (before ) Tj ET Q q 0 0 0 rg BT 193.19 459.00 Td (depreciation, ) Tj ET Q q 0 0 0 rg BT 236.46 459.00 Td (amortization ) Tj ET Q q 0 0 0 rg BT 278.63 459.00 Td (of ) Tj ET Q q 0 0 0 rg BT 287.04 459.00 Td (intangible ) Tj ET Q q 0 0 0 rg BT 320.77 459.00 Td (assets ) Tj ET Q q 0 0 0 rg BT 341.18 459.00 Td (and ) Tj ET Q q 0 0 0 rg BT 354.47 459.00 Td (impairments ) Tj ET Q q 0 0 0 rg BT 396.20 459.00 Td (of ) Tj ET Q q 0 0 0 rg BT 404.60 459.00 Td (assets ) Tj ET Q q 0 0 0 rg BT 425.01 459.00 Td (and ) Tj ET Q q 0 0 0 rg BT 438.30 459.00 Td (certain ) Tj ET Q q 0 0 0 rg BT 461.80 459.00 Td (unusual ) Tj ET Q q 0 0 0 rg BT 488.43 459.00 Td (or ) Tj ET Q q 0 0 0 rg BT 496.83 459.00 Td (infrequent ) Tj ET Q q 0 0 0 rg BT 531.45 459.00 Td (items ) Tj ET Q q 0 0 0 rg BT 550.52 459.00 Td (that ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 449.40 Td (are ) Tj ET Q q 0 0 0 rg BT 60.81 449.40 Td (not ) Tj ET Q q 0 0 0 rg BT 72.57 449.40 Td (considered ) Tj ET Q q 0 0 0 rg BT 108.76 449.40 Td (by ) Tj ET Q q 0 0 0 rg BT 118.30 449.40 Td (our ) Tj ET Q q 0 0 0 rg BT 130.50 449.40 Td (chief ) Tj ET Q q 0 0 0 rg BT 148.03 449.40 Td (operating ) Tj ET Q q 0 0 0 rg BT 179.78 449.40 Td (decision ) Tj ET Q q 0 0 0 rg BT 207.98 449.40 Td (makers ) Tj ET Q q 0 0 0 rg BT 232.63 449.40 Td (when ) Tj ET Q q 0 0 0 rg BT 251.49 449.40 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 286.35 449.40 Td (our ) Tj ET Q q 0 0 0 rg BT 298.56 449.40 Td (performance. ) Tj ET Q q 0 0 0 rg BT 342.52 449.40 Td (Items ) Tj ET Q q 0 0 0 rg BT 361.83 449.40 Td (that ) Tj ET Q q 0 0 0 rg BT 375.37 449.40 Td (are ) Tj ET Q q 0 0 0 rg BT 386.67 449.40 Td (not ) Tj ET Q q 0 0 0 rg BT 398.43 449.40 Td (allocated ) Tj ET Q q 0 0 0 rg BT 428.85 449.40 Td (to ) Tj ET Q q 0 0 0 rg BT 436.61 449.40 Td (our ) Tj ET Q q 0 0 0 rg BT 448.81 449.40 Td (segments ) Tj ET Q q 0 0 0 rg BT 480.13 449.40 Td (for ) Tj ET Q q 0 0 0 rg BT 490.99 449.40 Td (purposes ) Tj ET Q q 0 0 0 rg BT 520.98 449.40 Td (of ) Tj ET Q q 0 0 0 rg BT 529.18 449.40 Td (evaluating ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 439.80 Td (their ) Tj ET Q q 0 0 0 rg BT 66.16 439.80 Td (performance ) Tj ET Q q 0 0 0 rg BT 108.58 439.80 Td (and ) Tj ET Q q 0 0 0 rg BT 122.13 439.80 Td (therefore ) Tj ET Q q 0 0 0 rg BT 153.00 439.80 Td (are ) Tj ET Q q 0 0 0 rg BT 164.76 439.80 Td (not ) Tj ET Q q 0 0 0 rg BT 176.98 439.80 Td (included ) Tj ET Q q 0 0 0 rg BT 206.53 439.80 Td (in ) Tj ET Q q 0 0 0 rg BT 214.75 439.80 Td (their ) Tj ET Q q 0 0 0 rg BT 231.41 439.80 Td (OIBDA, ) Tj ET Q q 0 0 0 rg BT 260.75 439.80 Td (include ) Tj ET Q q 0 0 0 rg BT 286.29 439.80 Td (stock-based ) Tj ET Q q 0 0 0 rg BT 326.06 439.80 Td (compensation ) Tj ET Q q 0 0 0 rg BT 372.49 439.80 Td (and ) Tj ET Q q 0 0 0 rg BT 386.04 439.80 Td (certain ) Tj ET Q q 0 0 0 rg BT 409.80 439.80 Td (other ) Tj ET Q q 0 0 0 rg BT 428.24 439.80 Td (items.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 424.20 Td (Our ) Tj ET Q q 0 0 0 rg BT 63.75 424.20 Td (key ) Tj ET Q q 0 0 0 rg BT 77.12 424.20 Td (performance ) Tj ET Q q 0 0 0 rg BT 119.35 424.20 Td (measure ) Tj ET Q q 0 0 0 rg BT 147.82 424.20 Td (of ) Tj ET Q q 0 0 0 rg BT 156.29 424.20 Td (the ) Tj ET Q q 0 0 0 rg BT 167.88 424.20 Td (ef) Tj ET Q q 0 0 0 rg BT 173.95 424.20 Td (ficiency ) Tj ET Q q 0 0 0 rg BT 201.53 424.20 Td (of ) Tj ET Q q 0 0 0 rg BT 210.00 424.20 Td (our ) Tj ET Q q 0 0 0 rg BT 222.48 424.20 Td (segments ) Tj ET Q q 0 0 0 rg BT 254.07 424.20 Td (is ) Tj ET Q q 0 0 0 rg BT 261.22 424.20 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 286.11 424.20 Td ( ) Tj ET Q q 0 0 0 rg BT 287.92 424.20 Td (mar) Tj ET Q q 0 0 0 rg BT 300.21 424.20 Td (gin. ) Tj ET Q q 0 0 0 rg BT 314.12 424.20 Td (W) Tj ET Q q 0 0 0 rg BT 321.03 424.20 Td (e ) Tj ET Q q 0 0 0 rg BT 326.39 424.20 Td (define ) Tj ET Q q 0 0 0 rg BT 348.20 424.20 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 373.09 424.20 Td ( ) Tj ET Q q 0 0 0 rg BT 374.90 424.20 Td (mar) Tj ET Q q 0 0 0 rg BT 387.19 424.20 Td (gin ) Tj ET Q q 0 0 0 rg BT 399.23 424.20 Td (as ) Tj ET Q q 0 0 0 rg BT 407.71 424.20 Td (the ) Tj ET Q q 0 0 0 rg BT 419.29 424.20 Td (ratio ) Tj ET Q q 0 0 0 rg BT 435.77 424.20 Td (of ) Tj ET Q q 0 0 0 rg BT 444.25 424.20 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 469.14 424.20 Td ( ) Tj ET Q q 0 0 0 rg BT 470.95 424.20 Td (to ) Tj ET Q q 0 0 0 rg BT 478.99 424.20 Td (Net ) Tj ET Q q 0 0 0 rg BT 492.35 424.20 Td (Revenues. ) Tj ET Q q 0 0 0 rg BT 527.13 424.20 Td (W) Tj ET Q q 0 0 0 rg BT 534.04 424.20 Td (e ) Tj ET Q q 0 0 0 rg BT 539.41 424.20 Td (believe ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 414.60 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 74.39 414.60 Td ( ) Tj ET Q q 0 0 0 rg BT 76.57 414.60 Td (is ) Tj ET Q q 0 0 0 rg BT 84.09 414.60 Td (useful ) Tj ET Q q 0 0 0 rg BT 105.82 414.60 Td (to ) Tj ET Q q 0 0 0 rg BT 114.22 414.60 Td (investors ) Tj ET Q q 0 0 0 rg BT 145.29 414.60 Td (because ) Tj ET Q q 0 0 0 rg BT 172.78 414.60 Td (it ) Tj ET Q q 0 0 0 rg BT 179.41 414.60 Td (provides ) Tj ET Q q 0 0 0 rg BT 209.14 414.60 Td (a ) Tj ET Q q 0 0 0 rg BT 214.87 414.60 Td (meaningful ) Tj ET Q q 0 0 0 rg BT 253.48 414.60 Td (representation ) Tj ET Q q 0 0 0 rg BT 300.97 414.60 Td (of ) Tj ET Q q 0 0 0 rg BT 309.82 414.60 Td (our ) Tj ET Q q 0 0 0 rg BT 322.66 414.60 Td (performance ) Tj ET Q q 0 0 0 rg BT 365.26 414.60 Td (as ) Tj ET Q q 0 0 0 rg BT 374.10 414.60 Td (it ) Tj ET Q q 0 0 0 rg BT 380.73 414.60 Td (excludes ) Tj ET Q q 0 0 0 rg BT 410.89 414.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 434.84 414.60 Td (items ) Tj ET Q q 0 0 0 rg BT 454.35 414.60 Td (that ) Tj ET Q q 0 0 0 rg BT 468.52 414.60 Td (either ) Tj ET Q q 0 0 0 rg BT 488.91 414.60 Td (do ) Tj ET Q q 0 0 0 rg BT 499.09 414.60 Td (not ) Tj ET Q q 0 0 0 rg BT 511.50 414.60 Td (impact ) Tj ET Q q 0 0 0 rg BT 535.45 414.60 Td (our ) Tj ET Q q 0 0 0 rg BT 548.29 414.60 Td (cash ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 405.00 Td (flows ) Tj ET Q q 0 0 0 rg BT 69.18 405.00 Td (or ) Tj ET Q q 0 0 0 rg BT 77.74 405.00 Td (the ) Tj ET Q q 0 0 0 rg BT 89.42 405.00 Td (operating ) Tj ET Q q 0 0 0 rg BT 121.53 405.00 Td (results ) Tj ET Q q 0 0 0 rg BT 144.31 405.00 Td (of ) Tj ET Q q 0 0 0 rg BT 152.88 405.00 Td (our ) Tj ET Q q 0 0 0 rg BT 165.44 405.00 Td (operations. ) Tj ET Q q 0 0 0 rg BT 202.67 405.00 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 227.56 405.00 Td ( ) Tj ET Q q 0 0 0 rg BT 229.46 405.00 Td (and ) Tj ET Q q 0 0 0 rg BT 242.91 405.00 Td (free ) Tj ET Q q 0 0 0 rg BT 257.24 405.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 273.36 405.00 Td (flow) Tj ET Q q 0 0 0 rg BT 287.50 405.00 Td (, ) Tj ET Q q 0 0 0 rg BT 291.40 405.00 Td (as ) Tj ET Q q 0 0 0 rg BT 299.96 405.00 Td (defined ) Tj ET Q q 0 0 0 rg BT 325.85 405.00 Td (below) Tj ET Q q 0 0 0 rg BT 344.88 405.00 Td (, ) Tj ET Q q 0 0 0 rg BT 348.79 405.00 Td (are ) Tj ET Q q 0 0 0 rg BT 360.45 405.00 Td (also ) Tj ET Q q 0 0 0 rg BT 375.24 405.00 Td (used ) Tj ET Q q 0 0 0 rg BT 391.80 405.00 Td (as ) Tj ET Q q 0 0 0 rg BT 400.37 405.00 Td (a ) Tj ET Q q 0 0 0 rg BT 405.82 405.00 Td (component ) Tj ET Q q 0 0 0 rg BT 443.27 405.00 Td (in ) Tj ET Q q 0 0 0 rg BT 451.39 405.00 Td (determining ) Tj ET Q q 0 0 0 rg BT 491.95 405.00 Td (management ) Tj ET Q q 0 0 0 rg BT 534.72 405.00 Td (bonuses. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 395.40 Td (Intersegment ) Tj ET Q q 0 0 0 rg BT 93.26 395.40 Td (revenues ) Tj ET Q q 0 0 0 rg BT 123.69 395.40 Td (and ) Tj ET Q q 0 0 0 rg BT 137.24 395.40 Td (profits ) Tj ET Q q 0 0 0 rg BT 160.13 395.40 Td (have ) Tj ET Q q 0 0 0 rg BT 177.23 395.40 Td (been ) Tj ET Q q 0 0 0 rg BT 194.33 395.40 Td (eliminated ) Tj ET Q q 0 0 0 rg BT 230.10 395.40 Td (on ) Tj ET Q q 0 0 0 rg BT 240.10 395.40 Td (consolidation.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 379.80 Td (Free ) Tj ET Q q 0 0 0 rg BT 65.35 379.80 Td (cash ) Tj ET Q q 0 0 0 rg BT 81.20 379.80 Td (flow ) Tj ET Q q 0 0 0 rg BT 97.50 379.80 Td (is ) Tj ET Q q 0 0 0 rg BT 104.46 379.80 Td (defined ) Tj ET Q q 0 0 0 rg BT 130.09 379.80 Td (as ) Tj ET Q q 0 0 0 rg BT 138.38 379.80 Td (cash ) Tj ET Q q 0 0 0 rg BT 154.23 379.80 Td (flows ) Tj ET Q q 0 0 0 rg BT 173.64 379.80 Td (from ) Tj ET Q q 0 0 0 rg BT 190.83 379.80 Td (operating ) Tj ET Q q 0 0 0 rg BT 222.67 379.80 Td (activities, ) Tj ET Q q 0 0 0 rg BT 255.19 379.80 Td (less ) Tj ET Q q 0 0 0 rg BT 268.82 379.80 Td (purchases ) Tj ET Q q 0 0 0 rg BT 302.00 379.80 Td (of ) Tj ET Q q 0 0 0 rg BT 310.29 379.80 Td (property) Tj ET Q q 0 0 0 rg BT 336.88 379.80 Td (, ) Tj ET Q q 0 0 0 rg BT 340.51 379.80 Td (plant ) Tj ET Q q 0 0 0 rg BT 358.14 379.80 Td (and ) Tj ET Q q 0 0 0 rg BT 371.33 379.80 Td (equipment, ) Tj ET Q q 0 0 0 rg BT 408.73 379.80 Td (net ) Tj ET Q q 0 0 0 rg BT 420.14 379.80 Td (of ) Tj ET Q q 0 0 0 rg BT 428.43 379.80 Td (disposals ) Tj ET Q q 0 0 0 rg BT 459.40 379.80 Td (of ) Tj ET Q q 0 0 0 rg BT 467.70 379.80 Td (property) Tj ET Q q 0 0 0 rg BT 494.28 379.80 Td (, ) Tj ET Q q 0 0 0 rg BT 497.92 379.80 Td (plant ) Tj ET Q q 0 0 0 rg BT 515.55 379.80 Td (and ) Tj ET Q q 0 0 0 rg BT 528.73 379.80 Td (equipment ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 370.20 Td (and ) Tj ET Q q 0 0 0 rg BT 63.15 370.20 Td (excludes ) Tj ET Q q 0 0 0 rg BT 93.24 370.20 Td (the ) Tj ET Q q 0 0 0 rg BT 105.12 370.20 Td (cash ) Tj ET Q q 0 0 0 rg BT 121.44 370.20 Td (impact ) Tj ET Q q 0 0 0 rg BT 145.31 370.20 Td (of ) Tj ET Q q 0 0 0 rg BT 154.08 370.20 Td (certain ) Tj ET Q q 0 0 0 rg BT 177.94 370.20 Td (unusual ) Tj ET Q q 0 0 0 rg BT 204.93 370.20 Td (or ) Tj ET Q q 0 0 0 rg BT 213.70 370.20 Td (infrequent ) Tj ET Q q 0 0 0 rg BT 248.67 370.20 Td (items ) Tj ET Q q 0 0 0 rg BT 268.11 370.20 Td (that ) Tj ET Q q 0 0 0 rg BT 282.21 370.20 Td (are ) Tj ET Q q 0 0 0 rg BT 294.08 370.20 Td (not ) Tj ET Q q 0 0 0 rg BT 306.40 370.20 Td (included ) Tj ET Q q 0 0 0 rg BT 336.05 370.20 Td (in ) Tj ET Q q 0 0 0 rg BT 344.38 370.20 Td (costs ) Tj ET Q q 0 0 0 rg BT 362.48 370.20 Td (char) Tj ET Q q 0 0 0 rg BT 376.10 370.20 Td (ged ) Tj ET Q q 0 0 0 rg BT 389.75 370.20 Td (in ) Tj ET Q q 0 0 0 rg BT 398.08 370.20 Td (arriving ) Tj ET Q q 0 0 0 rg BT 425.50 370.20 Td (at ) Tj ET Q q 0 0 0 rg BT 433.38 370.20 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 458.27 370.20 Td ( ) Tj ET Q q 0 0 0 rg BT 460.37 370.20 Td (because ) Tj ET Q q 0 0 0 rg BT 487.79 370.20 Td (they ) Tj ET Q q 0 0 0 rg BT 503.67 370.20 Td (are ) Tj ET Q q 0 0 0 rg BT 515.54 370.20 Td (not ) Tj ET Q q 0 0 0 rg BT 527.86 370.20 Td (considered ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 360.60 Td (by ) Tj ET Q q 0 0 0 rg BT 59.43 360.60 Td (our ) Tj ET Q q 0 0 0 rg BT 72.02 360.60 Td (chief ) Tj ET Q q 0 0 0 rg BT 89.93 360.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 122.07 360.60 Td (decision ) Tj ET Q q 0 0 0 rg BT 150.66 360.60 Td (makers ) Tj ET Q q 0 0 0 rg BT 175.69 360.60 Td (when ) Tj ET Q q 0 0 0 rg BT 194.94 360.60 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 230.19 360.60 Td (performance. ) Tj ET Q q 0 0 0 rg BT 274.53 360.60 Td (Free ) Tj ET Q q 0 0 0 rg BT 290.67 360.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 306.82 360.60 Td (flow ) Tj ET Q q 0 0 0 rg BT 323.41 360.60 Td (is ) Tj ET Q q 0 0 0 rg BT 330.67 360.60 Td (useful ) Tj ET Q q 0 0 0 rg BT 352.15 360.60 Td (as ) Tj ET Q q 0 0 0 rg BT 360.74 360.60 Td (a ) Tj ET Q q 0 0 0 rg BT 366.21 360.60 Td (measure ) Tj ET Q q 0 0 0 rg BT 394.79 360.60 Td (of ) Tj ET Q q 0 0 0 rg BT 403.38 360.60 Td (our ) Tj ET Q q 0 0 0 rg BT 415.98 360.60 Td (ability ) Tj ET Q q 0 0 0 rg BT 438.34 360.60 Td (to ) Tj ET Q q 0 0 0 rg BT 446.49 360.60 Td (generate ) Tj ET Q q 0 0 0 rg BT 475.51 360.60 Td (cash. ) Tj ET Q q 0 0 0 rg BT 493.65 360.60 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 518.54 360.60 Td ( ) Tj ET Q q 0 0 0 rg BT 520.47 360.60 Td (and ) Tj ET Q q 0 0 0 rg BT 533.95 360.60 Td (free ) Tj ET Q q 0 0 0 rg BT 548.30 360.60 Td (cash ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 351.00 Td (flow ) Tj ET Q q 0 0 0 rg BT 66.31 351.00 Td (may ) Tj ET Q q 0 0 0 rg BT 82.23 351.00 Td (not ) Tj ET Q q 0 0 0 rg BT 94.60 351.00 Td (be ) Tj ET Q q 0 0 0 rg BT 104.30 351.00 Td (comparable ) Tj ET Q q 0 0 0 rg BT 143.76 351.00 Td (to ) Tj ET Q q 0 0 0 rg BT 152.13 351.00 Td (similar ) Tj ET Q q 0 0 0 rg BT 176.49 351.00 Td (measures ) Tj ET Q q 0 0 0 rg BT 208.40 351.00 Td (reported ) Tj ET Q q 0 0 0 rg BT 237.20 351.00 Td (by ) Tj ET Q q 0 0 0 rg BT 247.35 351.00 Td (other ) Tj ET Q q 0 0 0 rg BT 265.93 351.00 Td (companies. ) Tj ET Q q 0 0 0 rg BT 304.29 351.00 Td (Non-GAAP) Tj ET Q q 0 0 0 rg BT 342.21 351.00 Td ( ) Tj ET Q q 0 0 0 rg BT 344.36 351.00 Td (financial ) Tj ET Q q 0 0 0 rg BT 374.49 351.00 Td (measures ) Tj ET Q q 0 0 0 rg BT 406.40 351.00 Td (should ) Tj ET Q q 0 0 0 rg BT 429.89 351.00 Td (be ) Tj ET Q q 0 0 0 rg BT 439.58 351.00 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 472.38 351.00 Td (in ) Tj ET Q q 0 0 0 rg BT 480.75 351.00 Td (conjunction ) Tj ET Q q 0 0 0 rg BT 520.66 351.00 Td (with, ) Tj ET Q q 0 0 0 rg BT 539.03 351.00 Td (and ) Tj ET Q q 0 0 0 rg BT 552.73 351.00 Td (are ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 341.40 Td (not ) Tj ET Q q 0 0 0 rg BT 61.69 341.40 Td (a ) Tj ET Q q 0 0 0 rg BT 67.21 341.40 Td (substitute ) Tj ET Q q 0 0 0 rg BT 99.85 341.40 Td (for) Tj ET Q q 0 0 0 rg BT 108.86 341.40 Td (, ) Tj ET Q q 0 0 0 rg BT 112.82 341.40 Td (US ) Tj ET Q q 0 0 0 rg BT 125.02 341.40 Td (GAAP) Tj ET Q q 0 0 0 rg BT 146.50 341.40 Td ( ) Tj ET Q q 0 0 0 rg BT 148.47 341.40 Td (financial ) Tj ET Q q 0 0 0 rg BT 178.43 341.40 Td (measures. ) Tj ET Q q 0 0 0 rg BT 212.16 341.40 Td (For ) Tj ET Q q 0 0 0 rg BT 225.24 341.40 Td (additional ) Tj ET Q q 0 0 0 rg BT 259.20 341.40 Td (information ) Tj ET Q q 0 0 0 rg BT 298.94 341.40 Td (regarding ) Tj ET Q q 0 0 0 rg BT 331.56 341.40 Td (our ) Tj ET Q q 0 0 0 rg BT 344.20 341.40 Td (business ) Tj ET Q q 0 0 0 rg BT 373.28 341.40 Td (segments, ) Tj ET Q q 0 0 0 rg BT 407.02 341.40 Td (including ) Tj ET Q q 0 0 0 rg BT 439.21 341.40 Td (a ) Tj ET Q q 0 0 0 rg BT 444.73 341.40 Td (reconciliation ) Tj ET Q q 0 0 0 rg BT 490.68 341.40 Td (to ) Tj ET Q q 0 0 0 rg BT 498.87 341.40 Td (US ) Tj ET Q q 0 0 0 rg BT 511.06 341.40 Td (GAAP) Tj ET Q q 0 0 0 rg BT 532.55 341.40 Td ( ) Tj ET Q q 0 0 0 rg BT 534.52 341.40 Td (financial ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 331.80 Td (measures, ) Tj ET Q q 0 0 0 rg BT 83.27 331.80 Td (see ) Tj ET Q q 0 0 0 rg BT 95.48 331.80 Td (Item ) Tj ET Q q 0 0 0 rg BT 112.14 331.80 Td (8, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 120.14 331.80 Td (Note ) Tj ET Q q 0 0 0 rg BT 137.69 331.80 Td (20, ) Tj ET Q q 0 0 0 rg BT 149.69 331.80 Td ("Segment ) Tj ET Q q 0 0 0 rg BT 182.95 331.80 Td (Data") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 201.32 331.80 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 316.20 Td (The ) Tj ET Q q 0 0 0 rg BT 63.78 316.20 Td (following ) Tj ET Q q 0 0 0 rg BT 96.74 316.20 Td (sections ) Tj ET Q q 0 0 0 rg BT 124.36 316.20 Td (contain ) Tj ET Q q 0 0 0 rg BT 149.75 316.20 Td (references ) Tj ET Q q 0 0 0 rg BT 184.46 316.20 Td (to ) Tj ET Q q 0 0 0 rg BT 192.53 316.20 Td (like-for) Tj ET Q q 0 0 0 rg BT 216.36 316.20 Td (-like ) Tj ET Q q 0 0 0 rg BT 232.86 316.20 Td (\(% ) Tj ET Q q 0 0 0 rg BT 247.59 316.20 Td (Lfl\), ) Tj ET Q q 0 0 0 rg BT 267.42 316.20 Td (or ) Tj ET Q q 0 0 0 rg BT 275.94 316.20 Td (constant ) Tj ET Q q 0 0 0 rg BT 304.44 316.20 Td (currency) Tj ET Q q 0 0 0 rg BT 331.90 316.20 Td (, ) Tj ET Q q 0 0 0 rg BT 335.75 316.20 Td (percentage ) Tj ET Q q 0 0 0 rg BT 372.24 316.20 Td (movements. ) Tj ET Q q 0 0 0 rg BT 412.83 316.20 Td (These ) Tj ET Q q 0 0 0 rg BT 433.78 316.20 Td (references ) Tj ET Q q 0 0 0 rg BT 468.49 316.20 Td (reflect ) Tj ET Q q 0 0 0 rg BT 490.76 316.20 Td (the ) Tj ET Q q 0 0 0 rg BT 502.38 316.20 Td (impact ) Tj ET Q q 0 0 0 rg BT 526.00 316.20 Td (of ) Tj ET Q q 0 0 0 rg BT 534.51 316.20 Td (applying ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 306.60 Td (the ) Tj ET Q q 0 0 0 rg BT 61.57 306.60 Td (current ) Tj ET Q q 0 0 0 rg BT 86.52 306.60 Td (period ) Tj ET Q q 0 0 0 rg BT 109.25 306.60 Td (average ) Tj ET Q q 0 0 0 rg BT 136.42 306.60 Td (exchange ) Tj ET Q q 0 0 0 rg BT 168.92 306.60 Td (rates ) Tj ET Q q 0 0 0 rg BT 186.32 306.60 Td (to ) Tj ET Q q 0 0 0 rg BT 194.84 306.60 Td (the ) Tj ET Q q 0 0 0 rg BT 206.91 306.60 Td (prior ) Tj ET Q q 0 0 0 rg BT 224.75 306.60 Td (period ) Tj ET Q q 0 0 0 rg BT 247.49 306.60 Td (revenues ) Tj ET Q q 0 0 0 rg BT 278.21 306.60 Td (and ) Tj ET Q q 0 0 0 rg BT 292.06 306.60 Td (costs. ) Tj ET Q q 0 0 0 rg BT 312.36 306.60 Td (Given ) Tj ET Q q 0 0 0 rg BT 334.21 306.60 Td (the ) Tj ET Q q 0 0 0 rg BT 346.28 306.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 382.34 306.60 Td (movement ) Tj ET Q q 0 0 0 rg BT 418.41 306.60 Td (of ) Tj ET Q q 0 0 0 rg BT 427.37 306.60 Td (the ) Tj ET Q q 0 0 0 rg BT 439.44 306.60 Td (currencies ) Tj ET Q q 0 0 0 rg BT 474.61 306.60 Td (in ) Tj ET Q q 0 0 0 rg BT 483.13 306.60 Td (the ) Tj ET Q q 0 0 0 rg BT 495.20 306.60 Td (markets ) Tj ET Q q 0 0 0 rg BT 522.82 306.60 Td (in ) Tj ET Q q 0 0 0 rg BT 531.34 306.60 Td (which ) Tj ET Q q 0 0 0 rg BT 553.18 306.60 Td (we ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 297.00 Td (operate ) Tj ET Q q 0 0 0 rg BT 75.04 297.00 Td (against ) Tj ET Q q 0 0 0 rg BT 99.71 297.00 Td (the ) Tj ET Q q 0 0 0 rg BT 111.49 297.00 Td (dollar) Tj ET Q q 0 0 0 rg BT 129.83 297.00 Td (, ) Tj ET Q q 0 0 0 rg BT 133.83 297.00 Td (we ) Tj ET Q q 0 0 0 rg BT 145.17 297.00 Td (believe ) Tj ET Q q 0 0 0 rg BT 170.27 297.00 Td (that ) Tj ET Q q 0 0 0 rg BT 184.27 297.00 Td (it ) Tj ET Q q 0 0 0 rg BT 190.72 297.00 Td (is ) Tj ET Q q 0 0 0 rg BT 198.06 297.00 Td (useful ) Tj ET Q q 0 0 0 rg BT 219.62 297.00 Td (to ) Tj ET Q q 0 0 0 rg BT 227.84 297.00 Td (provide ) Tj ET Q q 0 0 0 rg BT 254.29 297.00 Td (percentage ) Tj ET Q q 0 0 0 rg BT 290.93 297.00 Td (movements ) Tj ET Q q 0 0 0 rg BT 329.82 297.00 Td (based ) Tj ET Q q 0 0 0 rg BT 350.04 297.00 Td (on ) Tj ET Q q 0 0 0 rg BT 360.04 297.00 Td (like-for) Tj ET Q q 0 0 0 rg BT 383.87 297.00 Td (-like ) Tj ET Q q 0 0 0 rg BT 400.54 297.00 Td (percentage ) Tj ET Q q 0 0 0 rg BT 437.18 297.00 Td (movements ) Tj ET Q q 0 0 0 rg BT 476.07 297.00 Td (as ) Tj ET Q q 0 0 0 rg BT 484.74 297.00 Td (well ) Tj ET Q q 0 0 0 rg BT 500.52 297.00 Td (as ) Tj ET Q q 0 0 0 rg BT 509.19 297.00 Td (actual ) Tj ET Q q 0 0 0 rg BT 530.29 297.00 Td (\(% ) Tj ET Q q 0 0 0 rg BT 544.73 297.00 Td (Act\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 287.40 Td (percentage ) Tj ET Q q 0 0 0 rg BT 86.36 287.40 Td (movements ) Tj ET Q q 0 0 0 rg BT 125.47 287.40 Td (\(which ) Tj ET Q q 0 0 0 rg BT 149.91 287.40 Td (includes ) Tj ET Q q 0 0 0 rg BT 178.79 287.40 Td (the ) Tj ET Q q 0 0 0 rg BT 190.79 287.40 Td (ef) Tj ET Q q 0 0 0 rg BT 196.86 287.40 Td (fect ) Tj ET Q q 0 0 0 rg BT 211.07 287.40 Td (of ) Tj ET Q q 0 0 0 rg BT 219.95 287.40 Td (foreign ) Tj ET Q q 0 0 0 rg BT 245.28 287.40 Td (exchange\). ) Tj ET Q q 0 0 0 rg BT 282.37 287.40 Td (Unless ) Tj ET Q q 0 0 0 rg BT 306.37 287.40 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 339.69 287.40 Td (stated, ) Tj ET Q q 0 0 0 rg BT 362.57 287.40 Td (all ) Tj ET Q q 0 0 0 rg BT 372.79 287.40 Td (percentage ) Tj ET Q q 0 0 0 rg BT 409.66 287.40 Td (increases ) Tj ET Q q 0 0 0 rg BT 441.20 287.40 Td (or ) Tj ET Q q 0 0 0 rg BT 450.08 287.40 Td (decreases ) Tj ET Q q 0 0 0 rg BT 482.95 287.40 Td (in ) Tj ET Q q 0 0 0 rg BT 491.39 287.40 Td (the ) Tj ET Q q 0 0 0 rg BT 503.39 287.40 Td (following ) Tj ET Q q 0 0 0 rg BT 536.72 287.40 Td (analysis ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 277.80 Td (refer ) Tj ET Q q 0 0 0 rg BT 66.59 277.80 Td (to ) Tj ET Q q 0 0 0 rg BT 74.82 277.80 Td (year) Tj ET Q q 0 0 0 rg BT 88.42 277.80 Td (-on-year ) Tj ET Q q 0 0 0 rg BT 117.52 277.80 Td (percentage ) Tj ET Q q 0 0 0 rg BT 154.16 277.80 Td (changes.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 262.20 Td (The ) Tj ET Q q 0 0 0 rg BT 63.94 262.20 Td (following ) Tj ET Q q 0 0 0 rg BT 97.05 262.20 Td (tables ) Tj ET Q q 0 0 0 rg BT 117.71 262.20 Td (provide ) Tj ET Q q 0 0 0 rg BT 144.14 262.20 Td (a ) Tj ET Q q 0 0 0 rg BT 149.70 262.20 Td (summary ) Tj ET Q q 0 0 0 rg BT 181.47 262.20 Td (of ) Tj ET Q q 0 0 0 rg BT 190.13 262.20 Td (our ) Tj ET Q q 0 0 0 rg BT 202.80 262.20 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 245.23 262.20 Td (results ) Tj ET Q q 0 0 0 rg BT 268.12 262.20 Td (for ) Tj ET Q q 0 0 0 rg BT 279.45 262.20 Td (the ) Tj ET Q q 0 0 0 rg BT 291.22 262.20 Td (years ) Tj ET Q q 0 0 0 rg BT 310.10 262.20 Td (ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.20 262.20 Td (December31, ) Tj ET Q q 0 0 0 rg BT 378.07 262.20 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.07 262.20 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.07 262.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 414.07 262.20 Td ( ) Tj ET Q q 0 0 0 rg BT 416.07 262.20 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.62 262.20 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 445.62 262.20 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 205.70 110.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.00 205.70 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.00 205.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.00 205.70 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 205.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 205.70 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 205.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 205.70 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 205.70 10.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 205.70 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 205.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 205.70 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 205.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 205.70 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 205.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 205.70 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 175.70 110.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.00 175.70 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.00 175.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.00 175.70 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 175.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 175.70 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 175.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 175.70 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 175.70 10.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 175.70 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 175.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 175.70 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 175.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 175.70 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 175.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 175.70 46.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 160 235.70000000000005 m 206 235.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 206 235.70000000000005 m 210 235.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 210 235.70000000000005 m 256 235.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 256 235.70000000000005 m 260 235.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260 235.70000000000005 m 306 235.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 306 235.70000000000005 m 310 235.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310 235.70000000000005 m 356 235.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 356 235.70000000000005 m 366 235.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 366 235.70000000000005 m 412 235.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 412 235.70000000000005 m 416 235.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 416 235.70000000000005 m 462 235.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 462 235.70000000000005 m 466 235.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 466 235.70000000000005 m 512 235.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 512 235.70000000000005 m 516 235.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 516 235.70000000000005 m 562 235.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260 220.70000000000005 m 306 220.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 306 220.70000000000005 m 310 220.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310 220.70000000000005 m 356 220.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 466 220.70000000000005 m 512 220.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 512 220.70000000000005 m 516 220.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 516 220.70000000000005 m 562 220.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 160 205.70000000000005 m 206 205.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 210 205.70000000000005 m 256 205.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260 205.70000000000005 m 306 205.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310 205.70000000000005 m 356 205.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 366 205.70000000000005 m 412 205.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 416 205.70000000000005 m 462 205.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 466 205.70000000000005 m 512 205.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 516 205.70000000000005 m 562 205.70000000000005 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 239.95 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 279.80 239.93 Td (For The Year Ending December 31, \(US$ 000's\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 290.15 224.93 Td (Movement) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 496.15 224.93 Td (Movement) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 209.95 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 186.50 209.93 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 236.50 209.93 Td (2013) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 283.00 209.93 Td (% Act) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 334.05 209.93 Td (% Lfl) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 392.50 209.93 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.50 209.93 Td (2012) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 489.00 209.93 Td (% Act) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 540.05 209.93 Td (% Lfl) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 194.95 Td (Net ) Tj ET Q q 0 0 0 rg BT 66.05 194.95 Td (revenues) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 162.50 194.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 176.75 194.95 Td (680,793) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 212.50 194.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.75 194.95 Td (633,134) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 288.75 194.95 Td (7.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 298.80 194.95 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 334.75 194.95 Td (10.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 348.80 194.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.50 194.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.75 194.95 Td (633,134) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.50 194.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.75 194.95 Td (705,999) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 485.45 194.95 Td (\(10.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 502.15 194.95 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 535.45 194.95 Td (\(11.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 552.15 194.95 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 179.95 Td (OIBDA) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 180.75 179.95 Td (95,446) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 228.10 179.95 Td (\(48,405) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 252.80 179.95 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 282.40 179.95 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 296.40 183.57 Td (\(1\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 332.40 179.95 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 346.40 183.57 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 384.10 179.95 Td (\(48,405) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.80 179.95 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.75 179.95 Td (120,627) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 488.40 179.95 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 502.40 183.57 Td (\(1\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 538.40 179.95 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 552.40 183.57 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 164.95 Td (Operating ) Tj ET Q q 0 0 0 rg BT 86.49 164.95 Td (income ) Tj ET Q q 0 0 0 rg BT 112.04 164.95 Td (/ ) Tj ET Q q 0 0 0 rg BT 116.26 164.95 Td (\(loss\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 180.75 164.95 Td (38,280) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 224.10 164.95 Td (\(180,017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 252.80 164.95 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 282.40 164.95 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 296.40 168.57 Td (\(1\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 332.40 164.95 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 346.40 168.57 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.10 164.95 Td (\(180,017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.80 164.95 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.10 164.95 Td (\(479,789) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.80 164.95 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 488.15 164.95 Td (62.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 504.80 164.95 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 538.15 164.95 Td (62.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.80 164.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 149.80 Td (\(1\)) Tj ET Q BT /F1 7.00 Tf ET BT /F1 4.55 Tf ET q 0 0 0 rg BT 57.66 152.97 Td ( ) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 58.80 149.80 Td (Number ) Tj ET Q q 0 0 0 rg BT 83.49 149.80 Td (is ) Tj ET Q q 0 0 0 rg BT 89.91 149.80 Td (not ) Tj ET Q q 0 0 0 rg BT 100.60 149.80 Td (meaningful.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 134.20 Td (Net ) Tj ET Q q 0 0 0 rg BT 63.05 134.20 Td (revenues ) Tj ET Q q 0 0 0 rg BT 93.49 134.20 Td (increased ) Tj ET Q q 0 0 0 rg BT 125.69 134.20 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 148.58 134.20 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 164.58 134.20 Td ( ) Tj ET Q q 0 0 0 rg BT 166.58 134.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 200.13 134.20 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.35 134.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 224.35 134.20 Td ( ) Tj ET Q q 0 0 0 rg BT 226.36 134.20 Td (primarily ) Tj ET Q q 0 0 0 rg BT 258.13 134.20 Td (due ) Tj ET Q q 0 0 0 rg BT 271.68 134.20 Td (to ) Tj ET Q q 0 0 0 rg BT 279.91 134.20 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.46 134.20 Td (10%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 300.13 134.20 Td ( ) Tj ET Q q 0 0 0 rg BT 302.13 134.20 Td (increase ) Tj ET Q q 0 0 0 rg BT 330.33 134.20 Td (on ) Tj ET Q q 0 0 0 rg BT 340.34 134.20 Td (a ) Tj ET Q q 0 0 0 rg BT 345.89 134.20 Td (constant ) Tj ET Q q 0 0 0 rg BT 374.55 134.20 Td (currency ) Tj ET Q q 0 0 0 rg BT 404.54 134.20 Td (basis ) Tj ET Q q 0 0 0 rg BT 422.54 134.20 Td (in ) Tj ET Q q 0 0 0 rg BT 430.77 134.20 Td (television ) Tj ET Q q 0 0 0 rg BT 463.87 134.20 Td (advertising ) Tj ET Q q 0 0 0 rg BT 501.42 134.20 Td (revenue ) Tj ET Q q 0 0 0 rg BT 528.74 134.20 Td (and ) Tj ET Q q 0 0 0 rg BT 542.30 134.20 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.85 134.20 Td (39%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 562.51 134.20 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 124.60 Td (increase ) Tj ET Q q 0 0 0 rg BT 78.29 124.60 Td (in ) Tj ET Q q 0 0 0 rg BT 87.10 124.60 Td (carriage ) Tj ET Q q 0 0 0 rg BT 115.43 124.60 Td (fees ) Tj ET Q q 0 0 0 rg BT 130.90 124.60 Td (and ) Tj ET Q q 0 0 0 rg BT 145.03 124.60 Td (subscription ) Tj ET Q q 0 0 0 rg BT 186.73 124.60 Td (revenues. ) Tj ET Q q 0 0 0 rg BT 219.56 124.60 Td (The ) Tj ET Q q 0 0 0 rg BT 234.58 124.60 Td (changes ) Tj ET Q q 0 0 0 rg BT 262.93 124.60 Td (made ) Tj ET Q q 0 0 0 rg BT 282.84 124.60 Td (to ) Tj ET Q q 0 0 0 rg BT 291.65 124.60 Td (the ) Tj ET Q q 0 0 0 rg BT 304.00 124.60 Td (television ) Tj ET Q q 0 0 0 rg BT 337.69 124.60 Td (advertising ) Tj ET Q q 0 0 0 rg BT 375.83 124.60 Td (sales ) Tj ET Q q 0 0 0 rg BT 393.96 124.60 Td (policy ) Tj ET Q q 0 0 0 rg BT 416.54 124.60 Td (for ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.46 124.60 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.46 124.60 Td ( ) Tj ET Q q 0 0 0 rg BT 447.04 124.60 Td (in ) Tj ET Q q 0 0 0 rg BT 455.85 124.60 Td (the ) Tj ET Q q 0 0 0 rg BT 468.21 124.60 Td (Czech ) Tj ET Q q 0 0 0 rg BT 490.78 124.60 Td (Republic ) Tj ET Q q 0 0 0 rg BT 522.25 124.60 Td (resulted ) Tj ET Q q 0 0 0 rg BT 550.16 124.60 Td (in ) Tj ET Q q 0 0 0 rg BT 558.97 124.60 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 115.00 Td (significant ) Tj ET Q q 0 0 0 rg BT 84.77 115.00 Td (increase ) Tj ET Q q 0 0 0 rg BT 112.47 115.00 Td (in ) Tj ET Q q 0 0 0 rg BT 120.20 115.00 Td (the ) Tj ET Q q 0 0 0 rg BT 131.47 115.00 Td (consumption ) Tj ET Q q 0 0 0 rg BT 174.31 115.00 Td (of ) Tj ET Q q 0 0 0 rg BT 182.47 115.00 Td (advertising ) Tj ET Q q 0 0 0 rg BT 219.52 115.00 Td (on ) Tj ET Q q 0 0 0 rg BT 229.02 115.00 Td (our ) Tj ET Q q 0 0 0 rg BT 241.18 115.00 Td (channels ) Tj ET Q q 0 0 0 rg BT 270.67 115.00 Td (in ) Tj ET Q q 0 0 0 rg BT 278.40 115.00 Td (that ) Tj ET Q q 0 0 0 rg BT 291.89 115.00 Td (country ) Tj ET Q q 0 0 0 rg BT 317.83 115.00 Td (when ) Tj ET Q q 0 0 0 rg BT 336.66 115.00 Td (compared ) Tj ET Q q 0 0 0 rg BT 369.70 115.00 Td (to ) Tj ET Q q 0 0 0 rg BT 377.43 115.00 Td (the ) Tj ET Q q 0 0 0 rg BT 388.70 115.00 Td (previous ) Tj ET Q q 0 0 0 rg BT 417.75 115.00 Td (year) Tj ET Q q 0 0 0 rg BT 431.20 115.00 Td (, ) Tj ET Q q 0 0 0 rg BT 434.70 115.00 Td (which ) Tj ET Q q 0 0 0 rg BT 455.75 115.00 Td (led ) Tj ET Q q 0 0 0 rg BT 467.02 115.00 Td (to ) Tj ET Q q 0 0 0 rg BT 474.75 115.00 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.80 115.00 Td (29%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.46 115.00 Td ( ) Tj ET Q q 0 0 0 rg BT 495.96 115.00 Td (increase ) Tj ET Q q 0 0 0 rg BT 523.67 115.00 Td (in ) Tj ET Q q 0 0 0 rg BT 531.39 115.00 Td (television ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 105.40 Td (advertising ) Tj ET Q q 0 0 0 rg BT 87.19 105.40 Td (revenues ) Tj ET Q q 0 0 0 rg BT 117.75 105.40 Td (from ) Tj ET Q q 0 0 0 rg BT 135.44 105.40 Td (that ) Tj ET Q q 0 0 0 rg BT 149.58 105.40 Td (segment. ) Tj ET Q q 0 0 0 rg BT 180.22 105.40 Td (The ) Tj ET Q q 0 0 0 rg BT 194.80 105.40 Td (consumption ) Tj ET Q q 0 0 0 rg BT 238.27 105.40 Td (of ) Tj ET Q q 0 0 0 rg BT 247.07 105.40 Td (advertising ) Tj ET Q q 0 0 0 rg BT 284.76 105.40 Td (on ) Tj ET Q q 0 0 0 rg BT 294.90 105.40 Td (our ) Tj ET Q q 0 0 0 rg BT 307.70 105.40 Td (channels ) Tj ET Q q 0 0 0 rg BT 337.83 105.40 Td (in ) Tj ET Q q 0 0 0 rg BT 346.19 105.40 Td (the ) Tj ET Q q 0 0 0 rg BT 358.10 105.40 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 382.46 105.40 Td (Republic ) Tj ET Q q 0 0 0 rg BT 413.48 105.40 Td (also ) Tj ET Q q 0 0 0 rg BT 428.51 105.40 Td (improved ) Tj ET Q q 0 0 0 rg BT 461.31 105.40 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.33 105.40 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.33 105.40 Td ( ) Tj ET Q q 0 0 0 rg BT 502.47 105.40 Td (compared ) Tj ET Q q 0 0 0 rg BT 536.15 105.40 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.51 105.40 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 560.51 105.40 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 95.80 Td (resulting ) Tj ET Q q 0 0 0 rg BT 78.89 95.80 Td (in ) Tj ET Q q 0 0 0 rg BT 86.51 95.80 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 91.46 95.80 Td (10%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.12 95.80 Td ( ) Tj ET Q q 0 0 0 rg BT 107.52 95.80 Td (increase ) Tj ET Q q 0 0 0 rg BT 135.11 95.80 Td (in ) Tj ET Q q 0 0 0 rg BT 142.73 95.80 Td (television ) Tj ET Q q 0 0 0 rg BT 175.23 95.80 Td (advertising ) Tj ET Q q 0 0 0 rg BT 212.18 95.80 Td (revenues, ) Tj ET Q q 0 0 0 rg BT 244.00 95.80 Td (because ) Tj ET Q q 0 0 0 rg BT 270.71 95.80 Td (our ) Tj ET Q q 0 0 0 rg BT 282.77 95.80 Td (clients' ) Tj ET Q q 0 0 0 rg BT 306.49 95.80 Td (behavior ) Tj ET Q q 0 0 0 rg BT 335.88 95.80 Td (in ) Tj ET Q q 0 0 0 rg BT 343.49 95.80 Td (the ) Tj ET Q q 0 0 0 rg BT 354.66 95.80 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 378.28 95.80 Td (Republic ) Tj ET Q q 0 0 0 rg BT 408.56 95.80 Td (was ) Tj ET Q q 0 0 0 rg BT 422.40 95.80 Td (af) Tj ET Q q 0 0 0 rg BT 428.47 95.80 Td (fected ) Tj ET Q q 0 0 0 rg BT 449.40 95.80 Td (by ) Tj ET Q q 0 0 0 rg BT 458.80 95.80 Td (the ) Tj ET Q q 0 0 0 rg BT 469.97 95.80 Td (advertising ) Tj ET Q q 0 0 0 rg BT 506.91 95.80 Td (pricing ) Tj ET Q q 0 0 0 rg BT 530.96 95.80 Td (initiatives ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 86.20 Td (undertaken ) Tj ET Q q 0 0 0 rg BT 87.05 86.20 Td (in ) Tj ET Q q 0 0 0 rg BT 95.29 86.20 Td (the ) Tj ET Q q 0 0 0 rg BT 107.07 86.20 Td (Czech ) Tj ET Q q 0 0 0 rg BT 129.07 86.20 Td (Republic ) Tj ET Q q 0 0 0 rg BT 159.96 86.20 Td (during ) Tj ET Q q 0 0 0 rg BT 182.86 86.20 Td (2013. ) Tj ET Q q 0 0 0 rg BT 202.88 86.20 Td (Carriage ) Tj ET Q q 0 0 0 rg BT 232.43 86.20 Td (fees ) Tj ET Q q 0 0 0 rg BT 247.32 86.20 Td (and ) Tj ET Q q 0 0 0 rg BT 260.88 86.20 Td (subscription ) Tj ET Q q 0 0 0 rg BT 302.00 86.20 Td (revenues ) Tj ET Q q 0 0 0 rg BT 332.44 86.20 Td (increased ) Tj ET Q q 0 0 0 rg BT 364.66 86.20 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 387.55 86.20 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.55 86.20 Td ( ) Tj ET Q q 0 0 0 rg BT 405.57 86.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 439.12 86.20 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.35 86.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.35 86.20 Td ( ) Tj ET Q q 0 0 0 rg BT 465.36 86.20 Td (in ) Tj ET Q q 0 0 0 rg BT 473.60 86.20 Td (Bulgaria ) Tj ET Q q 0 0 0 rg BT 503.16 86.20 Td (due ) Tj ET Q q 0 0 0 rg BT 516.72 86.20 Td (to ) Tj ET Q q 0 0 0 rg BT 524.95 86.20 Td (increases ) Tj ET Q q 0 0 0 rg BT 556.28 86.20 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 76.60 Td (the ) Tj ET Q q 0 0 0 rg BT 61.44 76.60 Td (number ) Tj ET Q q 0 0 0 rg BT 88.04 76.60 Td (of ) Tj ET Q q 0 0 0 rg BT 96.87 76.60 Td (subscribers ) Tj ET Q q 0 0 0 rg BT 135.03 76.60 Td (reported ) Tj ET Q q 0 0 0 rg BT 163.85 76.60 Td (by ) Tj ET Q q 0 0 0 rg BT 174.02 76.60 Td (the ) Tj ET Q q 0 0 0 rg BT 185.96 76.60 Td (operators ) Tj ET Q q 0 0 0 rg BT 217.89 76.60 Td (and ) Tj ET Q q 0 0 0 rg BT 231.60 76.60 Td (stronger ) Tj ET Q q 0 0 0 rg BT 259.98 76.60 Td (prices, ) Tj ET Q q 0 0 0 rg BT 283.25 76.60 Td (and ) Tj ET Q q 0 0 0 rg BT 296.97 76.60 Td (in ) Tj ET Q q 0 0 0 rg BT 305.36 76.60 Td (Romania ) Tj ET Q q 0 0 0 rg BT 336.41 76.60 Td (following ) Tj ET Q q 0 0 0 rg BT 369.68 76.60 Td (the ) Tj ET Q q 0 0 0 rg BT 381.62 76.60 Td (successful ) Tj ET Q q 0 0 0 rg BT 416.67 76.60 Td (negotiation ) Tj ET Q q 0 0 0 rg BT 454.82 76.60 Td (of ) Tj ET Q q 0 0 0 rg BT 463.65 76.60 Td (contracts ) Tj ET Q q 0 0 0 rg BT 494.70 76.60 Td (with ) Tj ET Q q 0 0 0 rg BT 511.08 76.60 Td (major ) Tj ET Q q 0 0 0 rg BT 531.91 76.60 Td (cable ) Tj ET Q q 0 0 0 rg BT 550.95 76.60 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 67.00 Td (satellite ) Tj ET Q q 0 0 0 rg BT 76.38 67.00 Td (operators ) Tj ET Q q 0 0 0 rg BT 108.14 67.00 Td (in ) Tj ET Q q 0 0 0 rg BT 116.37 67.00 Td (the ) Tj ET Q q 0 0 0 rg BT 128.14 67.00 Td (second ) Tj ET Q q 0 0 0 rg BT 152.36 67.00 Td (half ) Tj ET Q q 0 0 0 rg BT 166.79 67.00 Td (of ) Tj ET Q q 0 0 0 rg BT 175.46 67.00 Td (2013.) Tj ET Q endstream endobj 47 0 obj <>] /Rotate 0 /Contents 48 0 R>> endobj 48 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (21) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 723.50 Td (Costs ) Tj ET Q q 0 0 0 rg BT 69.34 723.50 Td (char) Tj ET Q q 0 0 0 rg BT 82.96 723.50 Td (ged ) Tj ET Q q 0 0 0 rg BT 96.57 723.50 Td (in ) Tj ET Q q 0 0 0 rg BT 104.85 723.50 Td (arriving ) Tj ET Q q 0 0 0 rg BT 132.23 723.50 Td (at ) Tj ET Q q 0 0 0 rg BT 140.07 723.50 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 164.96 723.50 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 167.01 723.50 Td (decreased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 198.54 723.50 Td ( ) Tj ET Q q 0 0 0 rg BT 200.60 723.50 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 210.66 723.50 Td (14%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 225.32 723.50 Td ( ) Tj ET Q q 0 0 0 rg BT 227.38 723.50 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.66 723.50 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 251.66 723.50 Td ( ) Tj ET Q q 0 0 0 rg BT 253.72 723.50 Td (compared ) Tj ET Q q 0 0 0 rg BT 287.32 723.50 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.60 723.50 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.60 723.50 Td (. ) Tj ET Q q 0 0 0 rg BT 315.65 723.50 Td (On ) Tj ET Q q 0 0 0 rg BT 327.49 723.50 Td (a ) Tj ET Q q 0 0 0 rg BT 333.10 723.50 Td (constant ) Tj ET Q q 0 0 0 rg BT 361.82 723.50 Td (currency ) Tj ET Q q 0 0 0 rg BT 391.85 723.50 Td (basis ) Tj ET Q q 0 0 0 rg BT 409.91 723.50 Td (costs ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.97 723.50 Td (decreased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 459.50 723.50 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 461.56 723.50 Td (12%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.22 723.50 Td ( ) Tj ET Q q 0 0 0 rg BT 478.28 723.50 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.56 723.50 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.56 723.50 Td ( ) Tj ET Q q 0 0 0 rg BT 504.62 723.50 Td (compared ) Tj ET Q q 0 0 0 rg BT 538.21 723.50 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.49 723.50 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 562.49 723.50 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 713.90 Td (primarily ) Tj ET Q q 0 0 0 rg BT 81.02 713.90 Td (due ) Tj ET Q q 0 0 0 rg BT 94.33 713.90 Td (to ) Tj ET Q q 0 0 0 rg BT 102.30 713.90 Td (a ) Tj ET Q q 0 0 0 rg BT 107.61 713.90 Td (decrease ) Tj ET Q q 0 0 0 rg BT 136.89 713.90 Td (in ) Tj ET Q q 0 0 0 rg BT 144.87 713.90 Td (programming ) Tj ET Q q 0 0 0 rg BT 190.17 713.90 Td (impairment, ) Tj ET Q q 0 0 0 rg BT 230.80 713.90 Td (which ) Tj ET Q q 0 0 0 rg BT 252.11 713.90 Td (amounted ) Tj ET Q q 0 0 0 rg BT 285.41 713.90 Td (to ) Tj ET Q q 0 0 0 rg BT 293.39 713.90 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 309.37 713.90 Td (9.2 ) Tj ET Q q 0 0 0 rg BT 321.12 713.90 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.23 713.90 Td ( ) Tj ET Q q 0 0 0 rg BT 345.99 713.90 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.96 713.90 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 369.96 713.90 Td ( ) Tj ET Q q 0 0 0 rg BT 371.72 713.90 Td (compared ) Tj ET Q q 0 0 0 rg BT 405.01 713.90 Td (to ) Tj ET Q q 0 0 0 rg BT 412.99 713.90 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.97 713.90 Td (60.4 ) Tj ET Q q 0 0 0 rg BT 444.72 713.90 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.84 713.90 Td ( ) Tj ET Q q 0 0 0 rg BT 469.59 713.90 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.57 713.90 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 493.57 713.90 Td (, ) Tj ET Q q 0 0 0 rg BT 497.32 713.90 Td (as ) Tj ET Q q 0 0 0 rg BT 505.74 713.90 Td (well ) Tj ET Q q 0 0 0 rg BT 521.27 713.90 Td (as ) Tj ET Q q 0 0 0 rg BT 529.68 713.90 Td (a ) Tj ET Q q 0 0 0 rg BT 534.99 713.90 Td (decrease ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 704.30 Td (of ) Tj ET Q q 0 0 0 rg BT 58.39 704.30 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 74.84 704.30 Td (7.6 ) Tj ET Q q 0 0 0 rg BT 87.06 704.30 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 110.17 704.30 Td ( ) Tj ET Q q 0 0 0 rg BT 112.40 704.30 Td (in ) Tj ET Q q 0 0 0 rg BT 120.84 704.30 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 163.94 704.30 Td (char) Tj ET Q q 0 0 0 rg BT 177.56 704.30 Td (ges ) Tj ET Q q 0 0 0 rg BT 190.45 704.30 Td (and ) Tj ET Q q 0 0 0 rg BT 204.23 704.30 Td (a ) Tj ET Q q 0 0 0 rg BT 210.00 704.30 Td (decrease ) Tj ET Q q 0 0 0 rg BT 239.76 704.30 Td (of ) Tj ET Q q 0 0 0 rg BT 248.64 704.30 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 265.09 704.30 Td (7.1 ) Tj ET Q q 0 0 0 rg BT 277.32 704.30 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 300.43 704.30 Td ( ) Tj ET Q q 0 0 0 rg BT 302.65 704.30 Td (of ) Tj ET Q q 0 0 0 rg BT 311.54 704.30 Td (severance ) Tj ET Q q 0 0 0 rg BT 345.30 704.30 Td (char) Tj ET Q q 0 0 0 rg BT 358.92 704.30 Td (ges ) Tj ET Q q 0 0 0 rg BT 371.81 704.30 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.25 704.30 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.25 704.30 Td ( ) Tj ET Q q 0 0 0 rg BT 398.48 704.30 Td (that ) Tj ET Q q 0 0 0 rg BT 412.70 704.30 Td (were ) Tj ET Q q 0 0 0 rg BT 430.46 704.30 Td (not ) Tj ET Q q 0 0 0 rg BT 442.91 704.30 Td (incurred ) Tj ET Q q 0 0 0 rg BT 471.78 704.30 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.23 704.30 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.23 704.30 Td (. ) Tj ET Q q 0 0 0 rg BT 500.29 704.30 Td (The ) Tj ET Q q 0 0 0 rg BT 514.95 704.30 Td (remaining ) Tj ET Q q 0 0 0 rg BT 549.61 704.30 Td (cost ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 694.70 Td (savings ) Tj ET Q q 0 0 0 rg BT 75.25 694.70 Td (were ) Tj ET Q q 0 0 0 rg BT 92.54 694.70 Td (primarily ) Tj ET Q q 0 0 0 rg BT 124.06 694.70 Td (due ) Tj ET Q q 0 0 0 rg BT 137.36 694.70 Td (to ) Tj ET Q q 0 0 0 rg BT 145.33 694.70 Td (lower ) Tj ET Q q 0 0 0 rg BT 165.29 694.70 Td (transmission ) Tj ET Q q 0 0 0 rg BT 207.49 694.70 Td (costs, ) Tj ET Q q 0 0 0 rg BT 227.24 694.70 Td (including ) Tj ET Q q 0 0 0 rg BT 259.21 694.70 Td (savings ) Tj ET Q q 0 0 0 rg BT 284.96 694.70 Td (from ) Tj ET Q q 0 0 0 rg BT 302.25 694.70 Td (operating ) Tj ET Q q 0 0 0 rg BT 334.21 694.70 Td (fewer ) Tj ET Q q 0 0 0 rg BT 354.17 694.70 Td (channels ) Tj ET Q q 0 0 0 rg BT 383.91 694.70 Td (in ) Tj ET Q q 0 0 0 rg BT 391.88 694.70 Td (2014, ) Tj ET Q q 0 0 0 rg BT 411.63 694.70 Td (as ) Tj ET Q q 0 0 0 rg BT 420.04 694.70 Td (well ) Tj ET Q q 0 0 0 rg BT 435.56 694.70 Td (as ) Tj ET Q q 0 0 0 rg BT 443.98 694.70 Td (personnel ) Tj ET Q q 0 0 0 rg BT 476.83 694.70 Td (cost ) Tj ET Q q 0 0 0 rg BT 491.46 694.70 Td (savings ) Tj ET Q q 0 0 0 rg BT 517.21 694.70 Td (resulting ) Tj ET Q q 0 0 0 rg BT 546.96 694.70 Td (from ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 685.10 Td (our ) Tj ET Q q 0 0 0 rg BT 62.16 685.10 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 105.04 685.10 Td (ef) Tj ET Q q 0 0 0 rg BT 111.11 685.10 Td (forts.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 669.50 Td (Costs ) Tj ET Q q 0 0 0 rg BT 68.77 669.50 Td (char) Tj ET Q q 0 0 0 rg BT 82.39 669.50 Td (ged ) Tj ET Q q 0 0 0 rg BT 95.43 669.50 Td (in ) Tj ET Q q 0 0 0 rg BT 103.14 669.50 Td (arriving ) Tj ET Q q 0 0 0 rg BT 129.95 669.50 Td (at ) Tj ET Q q 0 0 0 rg BT 137.21 669.50 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 162.10 669.50 Td ( ) Tj ET Q q 0 0 0 rg BT 163.59 669.50 Td (for ) Tj ET Q q 0 0 0 rg BT 174.41 669.50 Td (2014 ) Tj ET Q q 0 0 0 rg BT 191.89 669.50 Td (exclude ) Tj ET Q q 0 0 0 rg BT 218.26 669.50 Td (a ) Tj ET Q q 0 0 0 rg BT 223.29 669.50 Td (char) Tj ET Q q 0 0 0 rg BT 236.92 669.50 Td (ge ) Tj ET Q q 0 0 0 rg BT 245.95 669.50 Td (of ) Tj ET Q q 0 0 0 rg BT 254.11 669.50 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 269.82 669.50 Td (12.0 ) Tj ET Q q 0 0 0 rg BT 285.31 669.50 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 308.42 669.50 Td ( ) Tj ET Q q 0 0 0 rg BT 309.91 669.50 Td (which ) Tj ET Q q 0 0 0 rg BT 330.95 669.50 Td (we ) Tj ET Q q 0 0 0 rg BT 341.76 669.50 Td (recorded ) Tj ET Q q 0 0 0 rg BT 371.23 669.50 Td (in ) Tj ET Q q 0 0 0 rg BT 378.94 669.50 Td (the ) Tj ET Q q 0 0 0 rg BT 390.20 669.50 Td (fourth ) Tj ET Q q 0 0 0 rg BT 411.24 669.50 Td (quarter ) Tj ET Q q 0 0 0 rg BT 435.38 669.50 Td (related ) Tj ET Q q 0 0 0 rg BT 458.63 669.50 Td (to ) Tj ET Q q 0 0 0 rg BT 466.34 669.50 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 494.05 669.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 505.31 669.50 Td (audits ) Tj ET Q q 0 0 0 rg BT 525.90 669.50 Td (in ) Tj ET Q q 0 0 0 rg BT 533.61 669.50 Td (Romania ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 659.90 Td (\(see ) Tj ET Q q 0 0 0 rg BT 63.84 659.90 Td (Item ) Tj ET Q q 0 0 0 rg BT 79.97 659.90 Td (8, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.44 659.90 Td (Note ) Tj ET Q q 0 0 0 rg BT 104.45 659.90 Td (21, ) Tj ET Q q 0 0 0 rg BT 115.92 659.90 Td ("Commitments ) Tj ET Q q 0 0 0 rg BT 165.99 659.90 Td (and ) Tj ET Q q 0 0 0 rg BT 179.00 659.90 Td (Contingencies") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 228.04 659.90 Td (\). ) Tj ET Q q 0 0 0 rg BT 234.06 659.90 Td (When ) Tj ET Q q 0 0 0 rg BT 254.63 659.90 Td (those ) Tj ET Q q 0 0 0 rg BT 272.98 659.90 Td (audits ) Tj ET Q q 0 0 0 rg BT 293.56 659.90 Td (are ) Tj ET Q q 0 0 0 rg BT 304.79 659.90 Td (completed, ) Tj ET Q q 0 0 0 rg BT 341.57 659.90 Td (it ) Tj ET Q q 0 0 0 rg BT 347.49 659.90 Td (is ) Tj ET Q q 0 0 0 rg BT 354.29 659.90 Td (likely ) Tj ET Q q 0 0 0 rg BT 373.97 659.90 Td (that ) Tj ET Q q 0 0 0 rg BT 387.43 659.90 Td (there ) Tj ET Q q 0 0 0 rg BT 404.89 659.90 Td (will ) Tj ET Q q 0 0 0 rg BT 418.80 659.90 Td (be ) Tj ET Q q 0 0 0 rg BT 427.82 659.90 Td (additional ) Tj ET Q q 0 0 0 rg BT 461.27 659.90 Td (char) Tj ET Q q 0 0 0 rg BT 474.90 659.90 Td (ges, ) Tj ET Q q 0 0 0 rg BT 489.02 659.90 Td (which ) Tj ET Q q 0 0 0 rg BT 510.04 659.90 Td (may ) Tj ET Q q 0 0 0 rg BT 525.28 659.90 Td (be ) Tj ET Q q 0 0 0 rg BT 534.30 659.90 Td (material, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 650.30 Td (but ) Tj ET Q q 0 0 0 rg BT 61.21 650.30 Td (it ) Tj ET Q q 0 0 0 rg BT 67.14 650.30 Td (is ) Tj ET Q q 0 0 0 rg BT 73.96 650.30 Td (currently ) Tj ET Q q 0 0 0 rg BT 104.32 650.30 Td (not ) Tj ET Q q 0 0 0 rg BT 116.03 650.30 Td (possible ) Tj ET Q q 0 0 0 rg BT 143.74 650.30 Td (to ) Tj ET Q q 0 0 0 rg BT 151.45 650.30 Td (estimate ) Tj ET Q q 0 0 0 rg BT 179.59 650.30 Td (how ) Tj ET Q q 0 0 0 rg BT 194.86 650.30 Td (much ) Tj ET Q q 0 0 0 rg BT 214.12 650.30 Td (they ) Tj ET Q q 0 0 0 rg BT 229.38 650.30 Td (will ) Tj ET Q q 0 0 0 rg BT 243.31 650.30 Td (be. ) Tj ET Q q 0 0 0 rg BT 254.24 650.30 Td (The ) Tj ET Q q 0 0 0 rg BT 268.16 650.30 Td (cost ) Tj ET Q q 0 0 0 rg BT 282.54 650.30 Td (is ) Tj ET Q q 0 0 0 rg BT 289.36 650.30 Td (not ) Tj ET Q q 0 0 0 rg BT 301.07 650.30 Td (considered ) Tj ET Q q 0 0 0 rg BT 337.21 650.30 Td (by ) Tj ET Q q 0 0 0 rg BT 346.69 650.30 Td (our ) Tj ET Q q 0 0 0 rg BT 358.84 650.30 Td (chief ) Tj ET Q q 0 0 0 rg BT 376.32 650.30 Td (operating ) Tj ET Q q 0 0 0 rg BT 408.01 650.30 Td (decision ) Tj ET Q q 0 0 0 rg BT 436.16 650.30 Td (makers ) Tj ET Q q 0 0 0 rg BT 460.75 650.30 Td (when ) Tj ET Q q 0 0 0 rg BT 479.56 650.30 Td (assessing ) Tj ET Q q 0 0 0 rg BT 510.83 650.30 Td (the ) Tj ET Q q 0 0 0 rg BT 522.09 650.30 Td (performance ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 640.70 Td (of ) Tj ET Q q 0 0 0 rg BT 58.76 640.70 Td (our ) Tj ET Q q 0 0 0 rg BT 72.02 640.70 Td (Romania ) Tj ET Q q 0 0 0 rg BT 103.49 640.70 Td (segment. ) Tj ET Q q 0 0 0 rg BT 134.56 640.70 Td (The ) Tj ET Q q 0 0 0 rg BT 149.59 640.70 Td (US$ ) Tj ET Q q 0 0 0 rg BT 166.41 640.70 Td (6.9 ) Tj ET Q q 0 0 0 rg BT 179.00 640.70 Td (million ) Tj ET Q q 0 0 0 rg BT 204.71 640.70 Td (fine ) Tj ET Q q 0 0 0 rg BT 219.74 640.70 Td (the ) Tj ET Q q 0 0 0 rg BT 232.11 640.70 Td (competition ) Tj ET Q q 0 0 0 rg BT 272.92 640.70 Td (agency ) Tj ET Q q 0 0 0 rg BT 298.16 640.70 Td (in ) Tj ET Q q 0 0 0 rg BT 306.98 640.70 Td (Slovenia ) Tj ET Q q 0 0 0 rg BT 337.57 640.70 Td (was ) Tj ET Q q 0 0 0 rg BT 352.61 640.70 Td (seeking ) Tj ET Q q 0 0 0 rg BT 379.64 640.70 Td (to ) Tj ET Q q 0 0 0 rg BT 388.45 640.70 Td (impose ) Tj ET Q q 0 0 0 rg BT 414.16 640.70 Td (relating ) Tj ET Q q 0 0 0 rg BT 441.18 640.70 Td (to ) Tj ET Q q 0 0 0 rg BT 450.00 640.70 Td (operations ) Tj ET Q q 0 0 0 rg BT 485.92 640.70 Td (there ) Tj ET Q q 0 0 0 rg BT 504.50 640.70 Td (prior ) Tj ET Q q 0 0 0 rg BT 522.64 640.70 Td (to ) Tj ET Q q 0 0 0 rg BT 531.46 640.70 Td (2012 ) Tj ET Q q 0 0 0 rg BT 550.05 640.70 Td (was ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 631.10 Td (overturned ) Tj ET Q q 0 0 0 rg BT 85.59 631.10 Td (in ) Tj ET Q q 0 0 0 rg BT 93.25 631.10 Td (the ) Tj ET Q q 0 0 0 rg BT 104.46 631.10 Td (fourth ) Tj ET Q q 0 0 0 rg BT 125.44 631.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 149.53 631.10 Td (\(see ) Tj ET Q q 0 0 0 rg BT 163.84 631.10 Td (Item ) Tj ET Q q 0 0 0 rg BT 179.94 631.10 Td (8, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 187.38 631.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 204.36 631.10 Td (21, ) Tj ET Q q 0 0 0 rg BT 215.80 631.10 Td ("Commitments ) Tj ET Q q 0 0 0 rg BT 265.83 631.10 Td (and ) Tj ET Q q 0 0 0 rg BT 278.82 631.10 Td (Contingencies") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 327.86 631.10 Td (\). ) Tj ET Q q 0 0 0 rg BT 333.96 631.10 Td (Since ) Tj ET Q q 0 0 0 rg BT 353.16 631.10 Td (the ) Tj ET Q q 0 0 0 rg BT 364.37 631.10 Td (char) Tj ET Q q 0 0 0 rg BT 377.99 631.10 Td (ge, ) Tj ET Q q 0 0 0 rg BT 388.98 631.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 415.28 631.10 Td (in ) Tj ET Q q 0 0 0 rg BT 422.94 631.10 Td (the ) Tj ET Q q 0 0 0 rg BT 434.15 631.10 Td (second ) Tj ET Q q 0 0 0 rg BT 457.80 631.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 481.89 631.10 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.99 631.10 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.99 631.10 Td (, ) Tj ET Q q 0 0 0 rg BT 509.42 631.10 Td (was ) Tj ET Q q 0 0 0 rg BT 523.30 631.10 Td (not ) Tj ET Q q 0 0 0 rg BT 534.96 631.10 Td (included ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 621.50 Td (in ) Tj ET Q q 0 0 0 rg BT 57.72 621.50 Td (OIBDA, ) Tj ET Q q 0 0 0 rg BT 87.05 621.50 Td (our ) Tj ET Q q 0 0 0 rg BT 99.72 621.50 Td (reversal ) Tj ET Q q 0 0 0 rg BT 127.04 621.50 Td (of ) Tj ET Q q 0 0 0 rg BT 135.70 621.50 Td (this ) Tj ET Q q 0 0 0 rg BT 149.26 621.50 Td (char) Tj ET Q q 0 0 0 rg BT 162.88 621.50 Td (ge ) Tj ET Q q 0 0 0 rg BT 172.43 621.50 Td (has ) Tj ET Q q 0 0 0 rg BT 185.09 621.50 Td (similarly ) Tj ET Q q 0 0 0 rg BT 215.54 621.50 Td (been ) Tj ET Q q 0 0 0 rg BT 232.64 621.50 Td (excluded ) Tj ET Q q 0 0 0 rg BT 263.51 621.50 Td (from ) Tj ET Q q 0 0 0 rg BT 281.06 621.50 Td (OIBDA.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 605.90 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 605.90 Td (e ) Tj ET Q q 0 0 0 rg BT 61.76 605.90 Td (completed ) Tj ET Q q 0 0 0 rg BT 96.88 605.90 Td (the ) Tj ET Q q 0 0 0 rg BT 108.45 605.90 Td (divestiture ) Tj ET Q q 0 0 0 rg BT 144.02 605.90 Td (of ) Tj ET Q q 0 0 0 rg BT 152.49 605.90 Td (Bontonfilm ) Tj ET Q q 0 0 0 rg BT 191.18 605.90 Td (during ) Tj ET Q q 0 0 0 rg BT 213.86 605.90 Td (the ) Tj ET Q q 0 0 0 rg BT 225.44 605.90 Td (second ) Tj ET Q q 0 0 0 rg BT 249.45 605.90 Td (quarter ) Tj ET Q q 0 0 0 rg BT 273.90 605.90 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 282.37 605.90 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.37 605.90 Td ( ) Tj ET Q q 0 0 0 rg BT 300.17 605.90 Td (and ) Tj ET Q q 0 0 0 rg BT 313.52 605.90 Td (the ) Tj ET Q q 0 0 0 rg BT 325.09 605.90 Td (home ) Tj ET Q q 0 0 0 rg BT 344.67 605.90 Td (video ) Tj ET Q q 0 0 0 rg BT 364.24 605.90 Td (distribution ) Tj ET Q q 0 0 0 rg BT 402.93 605.90 Td (business ) Tj ET Q q 0 0 0 rg BT 431.84 605.90 Td (in ) Tj ET Q q 0 0 0 rg BT 439.86 605.90 Td (Romania ) Tj ET Q q 0 0 0 rg BT 470.55 605.90 Td (during ) Tj ET Q q 0 0 0 rg BT 493.23 605.90 Td (the ) Tj ET Q q 0 0 0 rg BT 504.81 605.90 Td (fourth ) Tj ET Q q 0 0 0 rg BT 526.16 605.90 Td (quarter) Tj ET Q q 0 0 0 rg BT 548.37 605.90 Td (. ) Tj ET Q q 0 0 0 rg BT 552.04 605.90 Td (W) Tj ET Q q 0 0 0 rg BT 558.95 605.90 Td (e ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 596.30 Td (also ) Tj ET Q q 0 0 0 rg BT 64.31 596.30 Td (sold ) Tj ET Q q 0 0 0 rg BT 79.57 596.30 Td (our ) Tj ET Q q 0 0 0 rg BT 92.16 596.30 Td (remaining ) Tj ET Q q 0 0 0 rg BT 126.52 596.30 Td (distribution ) Tj ET Q q 0 0 0 rg BT 165.33 596.30 Td (business ) Tj ET Q q 0 0 0 rg BT 194.37 596.30 Td (in ) Tj ET Q q 0 0 0 rg BT 202.51 596.30 Td (Romania ) Tj ET Q q 0 0 0 rg BT 233.32 596.30 Td (during ) Tj ET Q q 0 0 0 rg BT 256.13 596.30 Td (January ) Tj ET Q q 0 0 0 rg BT 282.93 596.30 Td (2015, ) Tj ET Q q 0 0 0 rg BT 302.86 596.30 Td (and ) Tj ET Q q 0 0 0 rg BT 316.33 596.30 Td (during ) Tj ET Q q 0 0 0 rg BT 339.14 596.30 Td (the ) Tj ET Q q 0 0 0 rg BT 350.84 596.30 Td (course ) Tj ET Q q 0 0 0 rg BT 373.64 596.30 Td (of ) Tj ET Q q 0 0 0 rg BT 382.23 596.30 Td (the ) Tj ET Q q 0 0 0 rg BT 393.93 596.30 Td (year ) Tj ET Q q 0 0 0 rg BT 409.62 596.30 Td (we ) Tj ET Q q 0 0 0 rg BT 420.87 596.30 Td (expect ) Tj ET Q q 0 0 0 rg BT 443.67 596.30 Td (to ) Tj ET Q q 0 0 0 rg BT 451.81 596.30 Td (complete ) Tj ET Q q 0 0 0 rg BT 483.06 596.30 Td (the ) Tj ET Q q 0 0 0 rg BT 494.76 596.30 Td (disposal ) Tj ET Q q 0 0 0 rg BT 522.90 596.30 Td (of ) Tj ET Q q 0 0 0 rg BT 531.49 596.30 Td (our ) Tj ET Q q 0 0 0 rg BT 544.08 596.30 Td (radio, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 586.70 Td (studio, ) Tj ET Q q 0 0 0 rg BT 73.11 586.70 Td (cinema ) Tj ET Q q 0 0 0 rg BT 98.25 586.70 Td (and ) Tj ET Q q 0 0 0 rg BT 111.85 586.70 Td (music ) Tj ET Q q 0 0 0 rg BT 133.00 586.70 Td (businesses ) Tj ET Q q 0 0 0 rg BT 168.83 586.70 Td (in ) Tj ET Q q 0 0 0 rg BT 177.10 586.70 Td (Romania. ) Tj ET Q q 0 0 0 rg BT 209.88 586.70 Td (Therefore ) Tj ET Q q 0 0 0 rg BT 243.46 586.70 Td (the ) Tj ET Q q 0 0 0 rg BT 255.28 586.70 Td (results ) Tj ET Q q 0 0 0 rg BT 278.21 586.70 Td (of ) Tj ET Q q 0 0 0 rg BT 286.92 586.70 Td (each ) Tj ET Q q 0 0 0 rg BT 303.62 586.70 Td (of ) Tj ET Q q 0 0 0 rg BT 312.33 586.70 Td (these ) Tj ET Q q 0 0 0 rg BT 330.82 586.70 Td (businesses ) Tj ET Q q 0 0 0 rg BT 366.64 586.70 Td (have ) Tj ET Q q 0 0 0 rg BT 383.79 586.70 Td (been ) Tj ET Q q 0 0 0 rg BT 400.94 586.70 Td (included ) Tj ET Q q 0 0 0 rg BT 430.53 586.70 Td (as ) Tj ET Q q 0 0 0 rg BT 439.24 586.70 Td (discontinued ) Tj ET Q q 0 0 0 rg BT 482.17 586.70 Td (operations ) Tj ET Q q 0 0 0 rg BT 517.54 586.70 Td (for ) Tj ET Q q 0 0 0 rg BT 528.92 586.70 Td (all ) Tj ET Q q 0 0 0 rg BT 538.96 586.70 Td (periods ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 577.10 Td (presented.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 561.50 Td (There ) Tj ET Q q 0 0 0 rg BT 70.25 561.50 Td (were ) Tj ET Q q 0 0 0 rg BT 87.89 561.50 Td (no ) Tj ET Q q 0 0 0 rg BT 97.99 561.50 Td (impairment ) Tj ET Q q 0 0 0 rg BT 136.97 561.50 Td (char) Tj ET Q q 0 0 0 rg BT 150.59 561.50 Td (ges ) Tj ET Q q 0 0 0 rg BT 163.35 561.50 Td (in ) Tj ET Q q 0 0 0 rg BT 171.67 561.50 Td (respect ) Tj ET Q q 0 0 0 rg BT 196.42 561.50 Td (of ) Tj ET Q q 0 0 0 rg BT 205.19 561.50 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 235.73 561.50 Td (and ) Tj ET Q q 0 0 0 rg BT 249.38 561.50 Td (intangible ) Tj ET Q q 0 0 0 rg BT 283.47 561.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 304.23 561.50 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 327.22 561.50 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.22 561.50 Td (, ) Tj ET Q q 0 0 0 rg BT 347.32 561.50 Td (compared ) Tj ET Q q 0 0 0 rg BT 380.96 561.50 Td (to ) Tj ET Q q 0 0 0 rg BT 389.28 561.50 Td (char) Tj ET Q q 0 0 0 rg BT 402.90 561.50 Td (ges ) Tj ET Q q 0 0 0 rg BT 415.66 561.50 Td (of ) Tj ET Q q 0 0 0 rg BT 424.42 561.50 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.75 561.50 Td (79.7 ) Tj ET Q q 0 0 0 rg BT 456.85 561.50 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.96 561.50 Td ( ) Tj ET Q q 0 0 0 rg BT 482.06 561.50 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.38 561.50 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.38 561.50 Td (. ) Tj ET Q q 0 0 0 rg BT 510.33 561.50 Td (This ) Tj ET Q q 0 0 0 rg BT 526.65 561.50 Td (decrease ) Tj ET Q q 0 0 0 rg BT 556.28 561.50 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 551.90 Td (impairment ) Tj ET Q q 0 0 0 rg BT 88.16 551.90 Td (char) Tj ET Q q 0 0 0 rg BT 101.78 551.90 Td (ges, ) Tj ET Q q 0 0 0 rg BT 116.23 551.90 Td (along ) Tj ET Q q 0 0 0 rg BT 135.79 551.90 Td (with ) Tj ET Q q 0 0 0 rg BT 151.80 551.90 Td (a ) Tj ET Q q 0 0 0 rg BT 157.13 551.90 Td (decrease ) Tj ET Q q 0 0 0 rg BT 186.45 551.90 Td (in ) Tj ET Q q 0 0 0 rg BT 194.45 551.90 Td (depreciation, ) Tj ET Q q 0 0 0 rg BT 237.77 551.90 Td (amortization, ) Tj ET Q q 0 0 0 rg BT 281.99 551.90 Td (and ) Tj ET Q q 0 0 0 rg BT 295.32 551.90 Td (the ) Tj ET Q q 0 0 0 rg BT 306.88 551.90 Td (decrease ) Tj ET Q q 0 0 0 rg BT 336.20 551.90 Td (in ) Tj ET Q q 0 0 0 rg BT 344.20 551.90 Td (costs ) Tj ET Q q 0 0 0 rg BT 361.99 551.90 Td (char) Tj ET Q q 0 0 0 rg BT 375.61 551.90 Td (ged ) Tj ET Q q 0 0 0 rg BT 388.94 551.90 Td (in ) Tj ET Q q 0 0 0 rg BT 396.95 551.90 Td (arriving ) Tj ET Q q 0 0 0 rg BT 424.06 551.90 Td (at ) Tj ET Q q 0 0 0 rg BT 431.62 551.90 Td (OIBDA, ) Tj ET Q q 0 0 0 rg BT 460.73 551.90 Td (resulted ) Tj ET Q q 0 0 0 rg BT 487.84 551.90 Td (in ) Tj ET Q q 0 0 0 rg BT 495.85 551.90 Td (operating ) Tj ET Q q 0 0 0 rg BT 527.84 551.90 Td (income ) Tj ET Q q 0 0 0 rg BT 553.17 551.90 Td (for ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 542.30 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.50 542.30 Td ( ) Tj ET Q q 0 0 0 rg BT 67.50 542.30 Td (compared ) Tj ET Q q 0 0 0 rg BT 101.04 542.30 Td (to ) Tj ET Q q 0 0 0 rg BT 109.26 542.30 Td (an ) Tj ET Q q 0 0 0 rg BT 118.81 542.30 Td (operating ) Tj ET Q q 0 0 0 rg BT 151.02 542.30 Td (loss ) Tj ET Q q 0 0 0 rg BT 165.47 542.30 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 173.70 542.30 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 189.70 542.30 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 526.70 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 526.70 Td (e ) Tj ET Q q 0 0 0 rg BT 61.82 526.70 Td (remained ) Tj ET Q q 0 0 0 rg BT 93.44 526.70 Td (market ) Tj ET Q q 0 0 0 rg BT 117.51 526.70 Td (leaders ) Tj ET Q q 0 0 0 rg BT 142.02 526.70 Td (during ) Tj ET Q q 0 0 0 rg BT 164.77 526.70 Td (2014 ) Tj ET Q q 0 0 0 rg BT 182.63 526.70 Td (in ) Tj ET Q q 0 0 0 rg BT 190.71 526.70 Td (terms ) Tj ET Q q 0 0 0 rg BT 210.34 526.70 Td (of ) Tj ET Q q 0 0 0 rg BT 218.87 526.70 Td (audience ) Tj ET Q q 0 0 0 rg BT 249.15 526.70 Td (share ) Tj ET Q q 0 0 0 rg BT 267.89 526.70 Td (in ) Tj ET Q q 0 0 0 rg BT 275.97 526.70 Td (all ) Tj ET Q q 0 0 0 rg BT 285.83 526.70 Td (of ) Tj ET Q q 0 0 0 rg BT 294.35 526.70 Td (the ) Tj ET Q q 0 0 0 rg BT 305.98 526.70 Td (countries ) Tj ET Q q 0 0 0 rg BT 337.17 526.70 Td (in ) Tj ET Q q 0 0 0 rg BT 345.25 526.70 Td (which ) Tj ET Q q 0 0 0 rg BT 366.66 526.70 Td (we ) Tj ET Q q 0 0 0 rg BT 377.85 526.70 Td (operate. ) Tj ET Q q 0 0 0 rg BT 405.11 526.70 Td (These ) Tj ET Q q 0 0 0 rg BT 426.07 526.70 Td (audience ) Tj ET Q q 0 0 0 rg BT 456.36 526.70 Td (shares ) Tj ET Q q 0 0 0 rg BT 478.21 526.70 Td (give ) Tj ET Q q 0 0 0 rg BT 493.84 526.70 Td (us ) Tj ET Q q 0 0 0 rg BT 502.81 526.70 Td (a ) Tj ET Q q 0 0 0 rg BT 508.23 526.70 Td (strong ) Tj ET Q q 0 0 0 rg BT 530.08 526.70 Td (advantage ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 517.10 Td (over ) Tj ET Q q 0 0 0 rg BT 65.72 517.10 Td (our ) Tj ET Q q 0 0 0 rg BT 78.39 517.10 Td (competition, ) Tj ET Q q 0 0 0 rg BT 120.62 517.10 Td (and ) Tj ET Q q 0 0 0 rg BT 134.18 517.10 Td (we ) Tj ET Q q 0 0 0 rg BT 145.51 517.10 Td (intend ) Tj ET Q q 0 0 0 rg BT 167.52 517.10 Td (to ) Tj ET Q q 0 0 0 rg BT 175.75 517.10 Td (capitalize ) Tj ET Q q 0 0 0 rg BT 208.40 517.10 Td (on ) Tj ET Q q 0 0 0 rg BT 218.41 517.10 Td (this ) Tj ET Q q 0 0 0 rg BT 231.97 517.10 Td (by ) Tj ET Q q 0 0 0 rg BT 241.98 517.10 Td (concentrating ) Tj ET Q q 0 0 0 rg BT 287.52 517.10 Td (our ) Tj ET Q q 0 0 0 rg BT 300.20 517.10 Td (ef) Tj ET Q q 0 0 0 rg BT 306.27 517.10 Td (forts ) Tj ET Q q 0 0 0 rg BT 322.94 517.10 Td (on ) Tj ET Q q 0 0 0 rg BT 332.95 517.10 Td (improving ) Tj ET Q q 0 0 0 rg BT 368.29 517.10 Td (the ) Tj ET Q q 0 0 0 rg BT 380.07 517.10 Td (monetization ) Tj ET Q q 0 0 0 rg BT 423.84 517.10 Td (of ) Tj ET Q q 0 0 0 rg BT 432.51 517.10 Td (our ) Tj ET Q q 0 0 0 rg BT 445.18 517.10 Td (audiences, ) Tj ET Q q 0 0 0 rg BT 480.73 517.10 Td (with ) Tj ET Q q 0 0 0 rg BT 496.96 517.10 Td (a ) Tj ET Q q 0 0 0 rg BT 502.52 517.10 Td (particular ) Tj ET Q q 0 0 0 rg BT 535.18 517.10 Td (focus ) Tj ET Q q 0 0 0 rg BT 554.51 517.10 Td (on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 507.50 Td (regaining ) Tj ET Q q 0 0 0 rg BT 81.71 507.50 Td (additional ) Tj ET Q q 0 0 0 rg BT 115.70 507.50 Td (advertising ) Tj ET Q q 0 0 0 rg BT 153.25 507.50 Td (market ) Tj ET Q q 0 0 0 rg BT 177.46 507.50 Td (share ) Tj ET Q q 0 0 0 rg BT 196.34 507.50 Td (in ) Tj ET Q q 0 0 0 rg BT 204.56 507.50 Td (the ) Tj ET Q q 0 0 0 rg BT 216.34 507.50 Td (Czech ) Tj ET Q q 0 0 0 rg BT 238.32 507.50 Td (Republic.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 488.90 Td (Fr) Tj ET Q q 0 0 0 rg BT 57.20 488.90 Td (ee ) Tj ET Q q 0 0 0 rg BT 66.30 488.90 Td (Cash ) Tj ET Q q 0 0 0 rg BT 84.75 488.90 Td (Flow) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 450.40 186.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.00 450.40 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 450.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 450.40 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.00 450.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 450.40 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 450.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 450.40 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 450.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.00 450.40 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 450.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 450.40 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 420.40 186.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.00 420.40 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 420.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 420.40 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.00 420.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 420.40 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 420.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 420.40 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 420.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.00 420.40 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 420.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 420.40 51.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 236 465.4 m 287 465.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 287 465.4 m 291 465.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 291 465.4 m 342 465.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 342 465.4 m 346 465.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 346 465.4 m 397 465.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 397 465.4 m 401 465.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 401 465.4 m 452 465.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 456 465.4 m 507 465.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 507 465.4 m 511 465.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 511 465.4 m 562 465.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 452 465.4 m 456 465.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 236 450.4 m 287 450.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 291 450.4 m 342 450.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 346 450.4 m 397 450.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 401 450.4 m 452 450.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 456 450.4 m 507 450.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 511 450.4 m 562 450.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236 420.4 m 287 420.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236 406.4 m 287 406.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236 404.4 m 287 404.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 420.4 m 342 420.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 406.4 m 342 406.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 404.4 m 342 404.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 420.4 m 452 420.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 406.4 m 452 406.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 404.4 m 452 404.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 420.4 m 507 420.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 406.4 m 507 406.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 404.4 m 507 404.4 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 469.65 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 317.80 469.63 Td (For The Year Ending December 31, \(US$ 000's\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 454.65 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 267.50 454.63 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 322.50 454.63 Td (2013) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 358.80 454.63 Td (Movement) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 432.50 454.63 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.50 454.63 Td (2012) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 523.80 454.63 Td (Movement) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 439.65 Td (Net ) Tj ET Q q 0 0 0 rg BT 66.05 439.65 Td (cash ) Tj ET Q q 0 0 0 rg BT 82.27 439.65 Td (used ) Tj ET Q q 0 0 0 rg BT 98.93 439.65 Td (in ) Tj ET Q q 0 0 0 rg BT 107.15 439.65 Td (operating ) Tj ET Q q 0 0 0 rg BT 139.36 439.65 Td (activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 238.50 439.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 259.10 439.65 Td (\(65,242) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 283.80 439.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.50 439.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.10 439.65 Td (\(61,070) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.80 439.65 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 374.45 439.65 Td (\(6.8) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 387.15 439.65 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.50 439.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 424.10 439.65 Td (\(61,070) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 448.80 439.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.50 439.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.10 439.65 Td (\(27,670) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 503.80 439.65 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 531.45 439.65 Td (\(120.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 552.15 439.65 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 424.65 Td (Capital ) Tj ET Q q 0 0 0 rg BT 77.61 424.65 Td (expenditures, ) Tj ET Q q 0 0 0 rg BT 122.48 424.65 Td (net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 259.10 424.65 Td (\(28,548) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 283.80 424.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.10 424.65 Td (\(29,835) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.80 424.65 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 377.15 424.65 Td (4.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 389.75 424.65 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 424.10 424.65 Td (\(29,835) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 448.80 424.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.10 424.65 Td (\(31,091) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 503.80 424.65 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 542.15 424.65 Td (4.0) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.80 424.65 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 409.65 Td (Free ) Tj ET Q q 0 0 0 rg BT 68.71 409.65 Td (cash ) Tj ET Q q 0 0 0 rg BT 84.93 409.65 Td (flow) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 238.50 409.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 259.10 409.63 Td (\(93,790) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 283.80 409.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 293.50 409.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.10 409.63 Td (\(90,905) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.80 409.63 Td (\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 374.45 409.63 Td (\(3.2) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 387.15 409.63 Td (\)%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 403.50 409.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 424.10 409.63 Td (\(90,905) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 448.80 409.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.50 409.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.10 409.63 Td (\(58,761) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 503.80 409.63 Td (\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 535.45 409.63 Td (\(54.7) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 552.15 409.63 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 382.40 284.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 382.40 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 382.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 382.40 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 382.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 382.40 70.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 333.5 382.4 m 408.5 382.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 382.4 m 487.5 382.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 382.4 m 561.5 382.4 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 386.65 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 340.50 386.63 Td (December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 419.50 386.63 Td (December 31, 2013) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 523.30 386.63 Td (Movement) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 371.65 Td (Cash and cash equivalents) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 336.00 371.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 383.30 371.65 Td (34,298) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.00 371.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.30 371.65 Td (102,322) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.95 371.65 Td (\(66.5) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.65 371.65 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 352.30 Td (Our ) Tj ET Q q 0 0 0 rg BT 64.11 352.30 Td (free ) Tj ET Q q 0 0 0 rg BT 78.71 352.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 95.10 352.30 Td (flow ) Tj ET Q q 0 0 0 rg BT 111.93 352.30 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 120.32 352.30 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 136.32 352.30 Td ( ) Tj ET Q q 0 0 0 rg BT 138.49 352.30 Td (was ) Tj ET Q q 0 0 0 rg BT 153.10 352.30 Td (negative ) Tj ET Q q 0 0 0 rg BT 182.37 352.30 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 198.77 352.30 Td (93.8 ) Tj ET Q q 0 0 0 rg BT 214.94 352.30 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 238.05 352.30 Td (, ) Tj ET Q q 0 0 0 rg BT 242.22 352.30 Td (compared ) Tj ET Q q 0 0 0 rg BT 275.93 352.30 Td (to ) Tj ET Q q 0 0 0 rg BT 284.32 352.30 Td (free ) Tj ET Q q 0 0 0 rg BT 298.92 352.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 315.31 352.30 Td (flow ) Tj ET Q q 0 0 0 rg BT 332.14 352.30 Td (of ) Tj ET Q q 0 0 0 rg BT 340.97 352.30 Td (negative ) Tj ET Q q 0 0 0 rg BT 370.24 352.30 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.64 352.30 Td (90.9 ) Tj ET Q q 0 0 0 rg BT 402.81 352.30 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.92 352.30 Td ( ) Tj ET Q q 0 0 0 rg BT 428.09 352.30 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.48 352.30 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.48 352.30 Td (. ) Tj ET Q q 0 0 0 rg BT 456.50 352.30 Td (While ) Tj ET Q q 0 0 0 rg BT 478.21 352.30 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 503.10 352.30 Td ( ) Tj ET Q q 0 0 0 rg BT 505.27 352.30 Td (improved ) Tj ET Q q 0 0 0 rg BT 538.10 352.30 Td (in ) Tj ET Q q 0 0 0 rg BT 546.50 352.30 Td (2014 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 342.70 Td (compared ) Tj ET Q q 0 0 0 rg BT 82.98 342.70 Td (to ) Tj ET Q q 0 0 0 rg BT 91.15 342.70 Td (2013 ) Tj ET Q q 0 0 0 rg BT 109.10 342.70 Td (and ) Tj ET Q q 0 0 0 rg BT 122.59 342.70 Td (we ) Tj ET Q q 0 0 0 rg BT 133.87 342.70 Td (reduced ) Tj ET Q q 0 0 0 rg BT 161.13 342.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 177.29 342.70 Td (paid ) Tj ET Q q 0 0 0 rg BT 193.01 342.70 Td (for ) Tj ET Q q 0 0 0 rg BT 204.28 342.70 Td (interest, ) Tj ET Q q 0 0 0 rg BT 231.77 342.70 Td (this ) Tj ET Q q 0 0 0 rg BT 245.28 342.70 Td (was ) Tj ET Q q 0 0 0 rg BT 259.66 342.70 Td (more ) Tj ET Q q 0 0 0 rg BT 278.05 342.70 Td (than ) Tj ET Q q 0 0 0 rg BT 293.77 342.70 Td (of) Tj ET Q q 0 0 0 rg BT 300.29 342.70 Td (fset ) Tj ET Q q 0 0 0 rg BT 313.78 342.70 Td (primarily ) Tj ET Q q 0 0 0 rg BT 345.50 342.70 Td (by ) Tj ET Q q 0 0 0 rg BT 355.44 342.70 Td (higher ) Tj ET Q q 0 0 0 rg BT 377.82 342.70 Td (payments ) Tj ET Q q 0 0 0 rg BT 410.43 342.70 Td (made ) Tj ET Q q 0 0 0 rg BT 429.70 342.70 Td (to ) Tj ET Q q 0 0 0 rg BT 437.87 342.70 Td (reduce ) Tj ET Q q 0 0 0 rg BT 461.13 342.70 Td (our ) Tj ET Q q 0 0 0 rg BT 473.74 342.70 Td (programming ) Tj ET Q q 0 0 0 rg BT 519.23 342.70 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 550.95 342.70 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 333.10 Td (trade ) Tj ET Q q 0 0 0 rg BT 67.94 333.10 Td (payables. ) Tj ET Q q 0 0 0 rg BT 100.38 333.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 115.27 333.10 Td (ef) Tj ET Q q 0 0 0 rg BT 121.34 333.10 Td (forts ) Tj ET Q q 0 0 0 rg BT 138.46 333.10 Td (to ) Tj ET Q q 0 0 0 rg BT 147.14 333.10 Td (conserve ) Tj ET Q q 0 0 0 rg BT 178.02 333.10 Td (cash, ) Tj ET Q q 0 0 0 rg BT 196.68 333.10 Td (particularly ) Tj ET Q q 0 0 0 rg BT 236.01 333.10 Td (in ) Tj ET Q q 0 0 0 rg BT 244.68 333.10 Td (late ) Tj ET Q q 0 0 0 rg BT 258.68 333.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 277.13 333.10 Td (and ) Tj ET Q q 0 0 0 rg BT 291.14 333.10 Td (early ) Tj ET Q q 0 0 0 rg BT 309.58 333.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 330.03 333.10 Td (resulted ) Tj ET Q q 0 0 0 rg BT 357.81 333.10 Td (in ) Tj ET Q q 0 0 0 rg BT 366.48 333.10 Td (a ) Tj ET Q q 0 0 0 rg BT 372.48 333.10 Td (ballooning ) Tj ET Q q 0 0 0 rg BT 409.15 333.10 Td (of ) Tj ET Q q 0 0 0 rg BT 418.27 333.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 450.50 333.10 Td (that ) Tj ET Q q 0 0 0 rg BT 464.94 333.10 Td (had ) Tj ET Q q 0 0 0 rg BT 478.95 333.10 Td (been ) Tj ET Q q 0 0 0 rg BT 496.50 333.10 Td (building ) Tj ET Q q 0 0 0 rg BT 525.62 333.10 Td (since ) Tj ET Q q 0 0 0 rg BT 544.51 333.10 Td (2010. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 323.50 Td (During ) Tj ET Q q 0 0 0 rg BT 74.46 323.50 Td (2014, ) Tj ET Q q 0 0 0 rg BT 94.75 323.50 Td (we ) Tj ET Q q 0 0 0 rg BT 106.37 323.50 Td (made ) Tj ET Q q 0 0 0 rg BT 125.99 323.50 Td (higher ) Tj ET Q q 0 0 0 rg BT 148.72 323.50 Td (payments ) Tj ET Q q 0 0 0 rg BT 181.67 323.50 Td (to ) Tj ET Q q 0 0 0 rg BT 190.19 323.50 Td (suppliers ) Tj ET Q q 0 0 0 rg BT 221.37 323.50 Td (of ) Tj ET Q q 0 0 0 rg BT 230.32 323.50 Td (foreign ) Tj ET Q q 0 0 0 rg BT 255.72 323.50 Td (programming ) Tj ET Q q 0 0 0 rg BT 301.56 323.50 Td (in ) Tj ET Q q 0 0 0 rg BT 310.07 323.50 Td (order ) Tj ET Q q 0 0 0 rg BT 329.25 323.50 Td (to ) Tj ET Q q 0 0 0 rg BT 337.76 323.50 Td (improve ) Tj ET Q q 0 0 0 rg BT 366.71 323.50 Td (our ) Tj ET Q q 0 0 0 rg BT 379.67 323.50 Td (payables ) Tj ET Q q 0 0 0 rg BT 409.95 323.50 Td (position, ) Tj ET Q q 0 0 0 rg BT 440.03 323.50 Td (which ) Tj ET Q q 0 0 0 rg BT 461.87 323.50 Td (reduced ) Tj ET Q q 0 0 0 rg BT 489.48 323.50 Td (our ) Tj ET Q q 0 0 0 rg BT 502.44 323.50 Td (total ) Tj ET Q q 0 0 0 rg BT 518.95 323.50 Td (programming ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 313.90 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 81.72 313.90 Td (to ) Tj ET Q q 0 0 0 rg BT 90.38 313.90 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 107.05 313.90 Td (69.8 ) Tj ET Q q 0 0 0 rg BT 123.50 313.90 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.61 313.90 Td ( ) Tj ET Q q 0 0 0 rg BT 149.05 313.90 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 157.27 313.90 Td (December31, ) Tj ET Q q 0 0 0 rg BT 204.58 313.90 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 220.58 313.90 Td ( ) Tj ET Q q 0 0 0 rg BT 223.02 313.90 Td (from ) Tj ET Q q 0 0 0 rg BT 241.02 313.90 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 257.69 313.90 Td (141.9 ) Tj ET Q q 0 0 0 rg BT 278.13 313.90 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.24 313.90 Td ( ) Tj ET Q q 0 0 0 rg BT 303.69 313.90 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.90 313.90 Td (December31, ) Tj ET Q q 0 0 0 rg BT 359.21 313.90 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.21 313.90 Td (. ) Tj ET Q q 0 0 0 rg BT 379.66 313.90 Td (During ) Tj ET Q q 0 0 0 rg BT 404.77 313.90 Td (the ) Tj ET Q q 0 0 0 rg BT 416.98 313.90 Td (fourth ) Tj ET Q q 0 0 0 rg BT 438.98 313.90 Td (quarter ) Tj ET Q q 0 0 0 rg BT 464.07 313.90 Td (of ) Tj ET Q q 0 0 0 rg BT 473.18 313.90 Td (2014, ) Tj ET Q q 0 0 0 rg BT 493.62 313.90 Td (we ) Tj ET Q q 0 0 0 rg BT 505.39 313.90 Td (utilized ) Tj ET Q q 0 0 0 rg BT 531.83 313.90 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 548.50 313.90 Td (25.0 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 304.30 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 72.61 304.30 Td ( ) Tj ET Q q 0 0 0 rg BT 74.21 304.30 Td (of ) Tj ET Q q 0 0 0 rg BT 82.48 304.30 Td (the ) Tj ET Q q 0 0 0 rg BT 93.85 304.30 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 122.56 304.30 Td (available ) Tj ET Q q 0 0 0 rg BT 153.03 304.30 Td (to ) Tj ET Q q 0 0 0 rg BT 160.86 304.30 Td (us ) Tj ET Q q 0 0 0 rg BT 169.57 304.30 Td (under ) Tj ET Q q 0 0 0 rg BT 189.38 304.30 Td (the ) Tj ET Q q 0 0 0 rg BT 200.76 304.30 Td (2017 ) Tj ET Q q 0 0 0 rg BT 218.36 304.30 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 253.29 304.30 Td (Credit ) Tj ET Q q 0 0 0 rg BT 274.88 304.30 Td (Facility) Tj ET Q q 0 0 0 rg BT 298.80 304.30 Td (. ) Tj ET Q q 0 0 0 rg BT 302.29 304.30 Td (W) Tj ET Q q 0 0 0 rg BT 309.20 304.30 Td (e ) Tj ET Q q 0 0 0 rg BT 314.35 304.30 Td (ended ) Tj ET Q q 0 0 0 rg BT 335.05 304.30 Td (the ) Tj ET Q q 0 0 0 rg BT 346.42 304.30 Td (year ) Tj ET Q q 0 0 0 rg BT 361.79 304.30 Td (with ) Tj ET Q q 0 0 0 rg BT 377.61 304.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 393.43 304.30 Td (of ) Tj ET Q q 0 0 0 rg BT 401.69 304.30 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.52 304.30 Td (34.3 ) Tj ET Q q 0 0 0 rg BT 433.11 304.30 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.23 304.30 Td ( ) Tj ET Q q 0 0 0 rg BT 457.83 304.30 Td (and ) Tj ET Q q 0 0 0 rg BT 470.98 304.30 Td (US$ ) Tj ET Q q 0 0 0 rg BT 486.80 304.30 Td (90.0 ) Tj ET Q q 0 0 0 rg BT 502.40 304.30 Td (million ) Tj ET Q q 0 0 0 rg BT 527.12 304.30 Td (of ) Tj ET Q q 0 0 0 rg BT 535.38 304.30 Td (liquidity ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 294.70 Td (available ) Tj ET Q q 0 0 0 rg BT 80.37 294.70 Td (to ) Tj ET Q q 0 0 0 rg BT 88.59 294.70 Td (us ) Tj ET Q q 0 0 0 rg BT 97.71 294.70 Td (under ) Tj ET Q q 0 0 0 rg BT 117.92 294.70 Td (the ) Tj ET Q q 0 0 0 rg BT 129.70 294.70 Td (2017 ) Tj ET Q q 0 0 0 rg BT 147.70 294.70 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 183.03 294.70 Td (Credit ) Tj ET Q q 0 0 0 rg BT 205.02 294.70 Td (Facility) Tj ET Q q 0 0 0 rg BT 228.95 294.70 Td (, ) Tj ET Q q 0 0 0 rg BT 232.95 294.70 Td (compared ) Tj ET Q q 0 0 0 rg BT 266.48 294.70 Td (to ) Tj ET Q q 0 0 0 rg BT 274.71 294.70 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 290.93 294.70 Td (102.3 ) Tj ET Q q 0 0 0 rg BT 310.93 294.70 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 334.05 294.70 Td ( ) Tj ET Q q 0 0 0 rg BT 336.05 294.70 Td (of ) Tj ET Q q 0 0 0 rg BT 344.71 294.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 360.93 294.70 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.70 294.70 Td (December31, ) Tj ET Q q 0 0 0 rg BT 415.57 294.70 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.57 294.70 Td (. ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 279.10 Td (Financing ) Tj ET Q q 0 0 0 rg BT 84.38 279.10 Td (T) Tj ET Q q 0 0 0 rg BT 88.39 279.10 Td (ransactions ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 263.50 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 263.50 Td (e ) Tj ET Q q 0 0 0 rg BT 61.96 263.50 Td (overcame ) Tj ET Q q 0 0 0 rg BT 95.05 263.50 Td (a ) Tj ET Q q 0 0 0 rg BT 100.60 263.50 Td (significant ) Tj ET Q q 0 0 0 rg BT 136.37 263.50 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 165.48 263.50 Td (shortfall ) Tj ET Q q 0 0 0 rg BT 194.14 263.50 Td (and ) Tj ET Q q 0 0 0 rg BT 207.70 263.50 Td (extended ) Tj ET Q q 0 0 0 rg BT 238.57 263.50 Td (our ) Tj ET Q q 0 0 0 rg BT 251.23 263.50 Td (nearest ) Tj ET Q q 0 0 0 rg BT 275.89 263.50 Td (dated ) Tj ET Q q 0 0 0 rg BT 295.21 263.50 Td (debt ) Tj ET Q q 0 0 0 rg BT 310.98 263.50 Td (maturities ) Tj ET Q q 0 0 0 rg BT 344.98 263.50 Td (through ) Tj ET Q q 0 0 0 rg BT 371.86 263.50 Td (several ) Tj ET Q q 0 0 0 rg BT 396.52 263.50 Td (financing ) Tj ET Q q 0 0 0 rg BT 428.73 263.50 Td (transactions ) Tj ET Q q 0 0 0 rg BT 468.94 263.50 Td (completed ) Tj ET Q q 0 0 0 rg BT 504.26 263.50 Td (during ) Tj ET Q q 0 0 0 rg BT 527.14 263.50 Td (2014. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 247.90 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 247.90 Td (On ) Tj ET Q q 0 0 0 rg BT 97.09 247.90 Td (May ) Tj ET Q q 0 0 0 rg BT 113.57 247.90 Td (2, ) Tj ET Q q 0 0 0 rg BT 121.38 247.90 Td (2014, ) Tj ET Q q 0 0 0 rg BT 141.20 247.90 Td (we ) Tj ET Q q 0 0 0 rg BT 152.34 247.90 Td (issued ) Tj ET Q q 0 0 0 rg BT 174.16 247.90 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 190.20 247.90 Td (400.0 ) Tj ET Q q 0 0 0 rg BT 210.01 247.90 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 233.13 247.90 Td ( ) Tj ET Q q 0 0 0 rg BT 234.94 247.90 Td (in ) Tj ET Q q 0 0 0 rg BT 242.98 247.90 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 275.88 247.90 Td (principal ) Tj ET Q q 0 0 0 rg BT 306.13 247.90 Td (amount ) Tj ET Q q 0 0 0 rg BT 331.94 247.90 Td (of ) Tj ET Q q 0 0 0 rg BT 340.42 247.90 Td (2017 ) Tj ET Q q 0 0 0 rg BT 358.23 247.90 Td (PIK ) Tj ET Q q 0 0 0 rg BT 372.94 247.90 Td (Notes ) Tj ET Q q 0 0 0 rg BT 393.42 247.90 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.78 247.90 Td (84,000,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.78 247.90 Td ( ) Tj ET Q q 0 0 0 rg BT 444.60 247.90 Td (2014 ) Tj ET Q q 0 0 0 rg BT 462.28 247.90 Td (W) Tj ET Q q 0 0 0 rg BT 469.19 247.90 Td (arrants ) Tj ET Q q 0 0 0 rg BT 492.77 247.90 Td (in ) Tj ET Q q 0 0 0 rg BT 500.81 247.90 Td (the ) Tj ET Q q 0 0 0 rg BT 512.39 247.90 Td (Rights ) Tj ET Q q 0 0 0 rg BT 535.10 247.90 Td (Of) Tj ET Q q 0 0 0 rg BT 543.40 247.90 Td (fering ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 238.30 Td (and ) Tj ET Q q 0 0 0 rg BT 99.05 238.30 Td (related ) Tj ET Q q 0 0 0 rg BT 122.81 238.30 Td (financing ) Tj ET Q q 0 0 0 rg BT 155.02 238.30 Td (transactions.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 222.70 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 222.70 Td (Concurrently ) Tj ET Q q 0 0 0 rg BT 129.42 222.70 Td (with ) Tj ET Q q 0 0 0 rg BT 145.34 222.70 Td (the ) Tj ET Q q 0 0 0 rg BT 156.82 222.70 Td (closing ) Tj ET Q q 0 0 0 rg BT 181.63 222.70 Td (of ) Tj ET Q q 0 0 0 rg BT 190.00 222.70 Td (the ) Tj ET Q q 0 0 0 rg BT 201.48 222.70 Td (Rights ) Tj ET Q q 0 0 0 rg BT 224.08 222.70 Td (Of) Tj ET Q q 0 0 0 rg BT 232.37 222.70 Td (fering, ) Tj ET Q q 0 0 0 rg BT 255.06 222.70 Td (T) Tj ET Q q 0 0 0 rg BT 259.66 222.70 Td (ime ) Tj ET Q q 0 0 0 rg BT 273.24 222.70 Td (W) Tj ET Q q 0 0 0 rg BT 280.15 222.70 Td (arner ) Tj ET Q q 0 0 0 rg BT 298.28 222.70 Td (funded ) Tj ET Q q 0 0 0 rg BT 322.20 222.70 Td (the ) Tj ET Q q 0 0 0 rg BT 333.68 222.70 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.61 222.70 Td (30.0 ) Tj ET Q q 0 0 0 rg BT 365.31 222.70 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.43 222.70 Td ( ) Tj ET Q q 0 0 0 rg BT 390.13 222.70 Td (2017 ) Tj ET Q q 0 0 0 rg BT 407.71 222.70 Td (T) Tj ET Q q 0 0 0 rg BT 412.04 222.70 Td (erm ) Tj ET Q q 0 0 0 rg BT 426.18 222.70 Td (Loan. ) Tj ET Q q 0 0 0 rg BT 446.32 222.70 Td (In ) Tj ET Q q 0 0 0 rg BT 454.69 222.70 Td (addition, ) Tj ET Q q 0 0 0 rg BT 484.62 222.70 Td (we ) Tj ET Q q 0 0 0 rg BT 495.65 222.70 Td (entered ) Tj ET Q q 0 0 0 rg BT 520.89 222.70 Td (into ) Tj ET Q q 0 0 0 rg BT 535.04 222.70 Td (the ) Tj ET Q q 0 0 0 rg BT 546.52 222.70 Td (2017 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 213.10 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 120.29 213.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 141.73 213.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 167.63 213.10 Td (with ) Tj ET Q q 0 0 0 rg BT 183.20 213.10 Td (T) Tj ET Q q 0 0 0 rg BT 187.81 213.10 Td (ime ) Tj ET Q q 0 0 0 rg BT 201.15 213.10 Td (W) Tj ET Q q 0 0 0 rg BT 208.06 213.10 Td (arner ) Tj ET Q q 0 0 0 rg BT 225.94 213.10 Td (in ) Tj ET Q q 0 0 0 rg BT 233.62 213.10 Td (the ) Tj ET Q q 0 0 0 rg BT 244.84 213.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 277.39 213.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 307.27 213.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 332.72 213.10 Td (of ) Tj ET Q q 0 0 0 rg BT 340.84 213.10 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.52 213.10 Td (1) Tj ET Q q 0 0 0 rg BT 360.22 213.10 Td (15.0 ) Tj ET Q q 0 0 0 rg BT 375.68 213.10 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.79 213.10 Td (, ) Tj ET Q q 0 0 0 rg BT 402.24 213.10 Td (of ) Tj ET Q q 0 0 0 rg BT 410.36 213.10 Td (which ) Tj ET Q q 0 0 0 rg BT 431.36 213.10 Td (US$ ) Tj ET Q q 0 0 0 rg BT 447.04 213.10 Td (25.0 ) Tj ET Q q 0 0 0 rg BT 462.50 213.10 Td (million ) Tj ET Q q 0 0 0 rg BT 487.06 213.10 Td (was ) Tj ET Q q 0 0 0 rg BT 500.96 213.10 Td (drawn ) Tj ET Q q 0 0 0 rg BT 522.40 213.10 Td (at ) Tj ET Q q 0 0 0 rg BT 529.63 213.10 Td (December ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 203.50 Td (31, ) Tj ET Q q 0 0 0 rg BT 97.50 203.50 Td (2014. ) Tj ET Q q 0 0 0 rg BT 117.50 203.50 Td (In ) Tj ET Q q 0 0 0 rg BT 126.16 203.50 Td (connection ) Tj ET Q q 0 0 0 rg BT 163.26 203.50 Td (with ) Tj ET Q q 0 0 0 rg BT 179.48 203.50 Td (these ) Tj ET Q q 0 0 0 rg BT 197.92 203.50 Td (transactions, ) Tj ET Q q 0 0 0 rg BT 240.13 203.50 Td (we ) Tj ET Q q 0 0 0 rg BT 251.46 203.50 Td (issued ) Tj ET Q q 0 0 0 rg BT 273.32 203.50 Td (T) Tj ET Q q 0 0 0 rg BT 277.92 203.50 Td (ime ) Tj ET Q q 0 0 0 rg BT 291.77 203.50 Td (W) Tj ET Q q 0 0 0 rg BT 298.68 203.50 Td (arner ) Tj ET Q q 0 0 0 rg BT 317.11 203.50 Td (and ) Tj ET Q q 0 0 0 rg BT 330.52 203.50 Td (TW) Tj ET Q q 0 0 0 rg BT 342.81 203.50 Td ( ) Tj ET Q q 0 0 0 rg BT 344.81 203.50 Td (Investor ) Tj ET Q q 0 0 0 rg BT 373.03 203.50 Td (the ) Tj ET Q q 0 0 0 rg BT 384.80 203.50 Td (Initial ) Tj ET Q q 0 0 0 rg BT 405.76 203.50 Td (W) Tj ET Q q 0 0 0 rg BT 412.67 203.50 Td (arrants.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 187.90 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 187.90 Td (W) Tj ET Q q 0 0 0 rg BT 92.41 187.90 Td (e ) Tj ET Q q 0 0 0 rg BT 97.70 187.90 Td (used ) Tj ET Q q 0 0 0 rg BT 114.11 187.90 Td (the ) Tj ET Q q 0 0 0 rg BT 125.63 187.90 Td (net ) Tj ET Q q 0 0 0 rg BT 137.14 187.90 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 167.31 187.90 Td (of ) Tj ET Q q 0 0 0 rg BT 175.72 187.90 Td (the ) Tj ET Q q 0 0 0 rg BT 187.23 187.90 Td (Rights ) Tj ET Q q 0 0 0 rg BT 209.87 187.90 Td (Of) Tj ET Q q 0 0 0 rg BT 218.17 187.90 Td (fering ) Tj ET Q q 0 0 0 rg BT 239.01 187.90 Td (and ) Tj ET Q q 0 0 0 rg BT 252.30 187.90 Td (related ) Tj ET Q q 0 0 0 rg BT 275.81 187.90 Td (financing ) Tj ET Q q 0 0 0 rg BT 307.76 187.90 Td (transactions ) Tj ET Q q 0 0 0 rg BT 347.71 187.90 Td (and ) Tj ET Q q 0 0 0 rg BT 361.01 187.90 Td (a ) Tj ET Q q 0 0 0 rg BT 366.30 187.90 Td (portion ) Tj ET Q q 0 0 0 rg BT 391.15 187.90 Td (of ) Tj ET Q q 0 0 0 rg BT 399.56 187.90 Td (the ) Tj ET Q q 0 0 0 rg BT 411.07 187.90 Td (2017 ) Tj ET Q q 0 0 0 rg BT 428.69 187.90 Td (T) Tj ET Q q 0 0 0 rg BT 433.02 187.90 Td (erm ) Tj ET Q q 0 0 0 rg BT 447.20 187.90 Td (Loan ) Tj ET Q q 0 0 0 rg BT 465.38 187.90 Td (to ) Tj ET Q q 0 0 0 rg BT 473.34 187.90 Td (redeem ) Tj ET Q q 0 0 0 rg BT 498.62 187.90 Td (the ) Tj ET Q q 0 0 0 rg BT 510.14 187.90 Td (2016 ) Tj ET Q q 0 0 0 rg BT 527.88 187.90 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 547.85 187.90 Td (Rate ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 178.30 Td (Notes ) Tj ET Q q 0 0 0 rg BT 106.16 178.30 Td (and ) Tj ET Q q 0 0 0 rg BT 119.71 178.30 Td (dischar) Tj ET Q q 0 0 0 rg BT 142.67 178.30 Td (ged ) Tj ET Q q 0 0 0 rg BT 156.22 178.30 Td (their ) Tj ET Q q 0 0 0 rg BT 172.88 178.30 Td (indenture ) Tj ET Q q 0 0 0 rg BT 205.09 178.30 Td (on ) Tj ET Q q 0 0 0 rg BT 215.09 178.30 Td (May ) Tj ET Q q 0 0 0 rg BT 231.76 178.30 Td (2, ) Tj ET Q q 0 0 0 rg BT 239.76 178.30 Td (2014.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 162.70 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 162.70 Td (On ) Tj ET Q q 0 0 0 rg BT 97.46 162.70 Td (November ) Tj ET Q q 0 0 0 rg BT 133.40 162.70 Td (14, ) Tj ET Q q 0 0 0 rg BT 145.58 162.70 Td (2014, ) Tj ET Q q 0 0 0 rg BT 165.77 162.70 Td (we ) Tj ET Q q 0 0 0 rg BT 177.27 162.70 Td (entered ) Tj ET Q q 0 0 0 rg BT 202.99 162.70 Td (into ) Tj ET Q q 0 0 0 rg BT 217.62 162.70 Td (a ) Tj ET Q q 0 0 0 rg BT 223.35 162.70 Td (EUR ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.53 162.70 Td (250.8 ) Tj ET Q q 0 0 0 rg BT 261.71 162.70 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 284.83 162.70 Td ( ) Tj ET Q q 0 0 0 rg BT 287.01 162.70 Td (2017 ) Tj ET Q q 0 0 0 rg BT 305.19 162.70 Td (Euro ) Tj ET Q q 0 0 0 rg BT 322.76 162.70 Td (T) Tj ET Q q 0 0 0 rg BT 327.09 162.70 Td (erm ) Tj ET Q q 0 0 0 rg BT 341.71 162.70 Td (Loan ) Tj ET Q q 0 0 0 rg BT 360.33 162.70 Td (and ) Tj ET Q q 0 0 0 rg BT 374.06 162.70 Td (applied ) Tj ET Q q 0 0 0 rg BT 399.78 162.70 Td (the ) Tj ET Q q 0 0 0 rg BT 411.74 162.70 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 442.35 162.70 Td (to ) Tj ET Q q 0 0 0 rg BT 450.75 162.70 Td (redeem ) Tj ET Q q 0 0 0 rg BT 476.47 162.70 Td (the ) Tj ET Q q 0 0 0 rg BT 488.43 162.70 Td (2017 ) Tj ET Q q 0 0 0 rg BT 506.61 162.70 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 527.01 162.70 Td (Rate ) Tj ET Q q 0 0 0 rg BT 543.85 162.70 Td (Notes ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 153.10 Td (and ) Tj ET Q q 0 0 0 rg BT 99.05 153.10 Td (dischar) Tj ET Q q 0 0 0 rg BT 122.01 153.10 Td (ged ) Tj ET Q q 0 0 0 rg BT 135.56 153.10 Td (their ) Tj ET Q q 0 0 0 rg BT 152.22 153.10 Td (indenture ) Tj ET Q q 0 0 0 rg BT 184.43 153.10 Td (on ) Tj ET Q q 0 0 0 rg BT 194.43 153.10 Td (December ) Tj ET Q q 0 0 0 rg BT 229.30 153.10 Td (12, ) Tj ET Q q 0 0 0 rg BT 241.30 153.10 Td (2014.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 137.50 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 137.50 Td (Also ) Tj ET Q q 0 0 0 rg BT 102.55 137.50 Td (on ) Tj ET Q q 0 0 0 rg BT 112.48 137.50 Td (November ) Tj ET Q q 0 0 0 rg BT 148.18 137.50 Td (14, ) Tj ET Q q 0 0 0 rg BT 160.11 137.50 Td (2014, ) Tj ET Q q 0 0 0 rg BT 180.04 137.50 Td (we ) Tj ET Q q 0 0 0 rg BT 191.30 137.50 Td (entered ) Tj ET Q q 0 0 0 rg BT 216.77 137.50 Td (into ) Tj ET Q q 0 0 0 rg BT 231.15 137.50 Td (a ) Tj ET Q q 0 0 0 rg BT 236.64 137.50 Td (commitment ) Tj ET Q q 0 0 0 rg BT 279.01 137.50 Td (letter ) Tj ET Q q 0 0 0 rg BT 297.37 137.50 Td (with ) Tj ET Q q 0 0 0 rg BT 313.39 137.50 Td (T) Tj ET Q q 0 0 0 rg BT 317.99 137.50 Td (ime ) Tj ET Q q 0 0 0 rg BT 331.78 137.50 Td (W) Tj ET Q q 0 0 0 rg BT 338.69 137.50 Td (arner ) Tj ET Q q 0 0 0 rg BT 357.05 137.50 Td (whereby ) Tj ET Q q 0 0 0 rg BT 386.39 137.50 Td (T) Tj ET Q q 0 0 0 rg BT 391.00 137.50 Td (ime ) Tj ET Q q 0 0 0 rg BT 404.79 137.50 Td (W) Tj ET Q q 0 0 0 rg BT 411.70 137.50 Td (arner ) Tj ET Q q 0 0 0 rg BT 430.06 137.50 Td (agreed ) Tj ET Q q 0 0 0 rg BT 453.31 137.50 Td (to ) Tj ET Q q 0 0 0 rg BT 461.46 137.50 Td (provide ) Tj ET Q q 0 0 0 rg BT 487.83 137.50 Td (or ) Tj ET Q q 0 0 0 rg BT 496.43 137.50 Td (assist ) Tj ET Q q 0 0 0 rg BT 515.70 137.50 Td (with ) Tj ET Q q 0 0 0 rg BT 531.85 137.50 Td (arranging ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 127.90 Td (a ) Tj ET Q q 0 0 0 rg BT 91.76 127.90 Td (loan ) Tj ET Q q 0 0 0 rg BT 108.24 127.90 Td (facility ) Tj ET Q q 0 0 0 rg BT 133.60 127.90 Td (to ) Tj ET Q q 0 0 0 rg BT 142.54 127.90 Td (refinance ) Tj ET Q q 0 0 0 rg BT 175.00 127.90 Td (the ) Tj ET Q q 0 0 0 rg BT 187.48 127.90 Td (2015 ) Tj ET Q q 0 0 0 rg BT 206.19 127.90 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 246.66 127.90 Td (Notes ) Tj ET Q q 0 0 0 rg BT 268.04 127.90 Td (at ) Tj ET Q q 0 0 0 rg BT 276.52 127.90 Td (or ) Tj ET Q q 0 0 0 rg BT 285.89 127.90 Td (immediately ) Tj ET Q q 0 0 0 rg BT 328.59 127.90 Td (prior ) Tj ET Q q 0 0 0 rg BT 346.84 127.90 Td (to ) Tj ET Q q 0 0 0 rg BT 355.78 127.90 Td (their ) Tj ET Q q 0 0 0 rg BT 373.14 127.90 Td (maturity ) Tj ET Q q 0 0 0 rg BT 402.96 127.90 Td (in ) Tj ET Q q 0 0 0 rg BT 411.89 127.90 Td (November ) Tj ET Q q 0 0 0 rg BT 448.36 127.90 Td (2015, ) Tj ET Q q 0 0 0 rg BT 469.07 127.90 Td (subject ) Tj ET Q q 0 0 0 rg BT 494.44 127.90 Td (to ) Tj ET Q q 0 0 0 rg BT 503.37 127.90 Td (customary ) Tj ET Q q 0 0 0 rg BT 539.40 127.90 Td (closing ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 118.30 Td (conditions. ) Tj ET Q q 0 0 0 rg BT 122.69 118.30 Td (This ) Tj ET Q q 0 0 0 rg BT 138.91 118.30 Td (loan ) Tj ET Q q 0 0 0 rg BT 154.68 118.30 Td (facility ) Tj ET Q q 0 0 0 rg BT 179.34 118.30 Td (will ) Tj ET Q q 0 0 0 rg BT 193.79 118.30 Td (mature ) Tj ET Q q 0 0 0 rg BT 218.00 118.30 Td (in ) Tj ET Q q 0 0 0 rg BT 226.22 118.30 Td (November ) Tj ET Q q 0 0 0 rg BT 261.98 118.30 Td (2019.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 102.70 Td (Our ) Tj ET Q q 0 0 0 rg BT 63.65 102.70 Td (gross ) Tj ET Q q 0 0 0 rg BT 82.25 102.70 Td (debt ) Tj ET Q q 0 0 0 rg BT 97.74 102.70 Td (balance ) Tj ET Q q 0 0 0 rg BT 123.87 102.70 Td (increased ) Tj ET Q q 0 0 0 rg BT 155.78 102.70 Td (as ) Tj ET Q q 0 0 0 rg BT 164.16 102.70 Td (a ) Tj ET Q q 0 0 0 rg BT 169.42 102.70 Td (result ) Tj ET Q q 0 0 0 rg BT 188.90 102.70 Td (of ) Tj ET Q q 0 0 0 rg BT 197.28 102.70 Td (these ) Tj ET Q q 0 0 0 rg BT 215.42 102.70 Td (transactions ) Tj ET Q q 0 0 0 rg BT 255.34 102.70 Td (due ) Tj ET Q q 0 0 0 rg BT 268.61 102.70 Td (to ) Tj ET Q q 0 0 0 rg BT 276.54 102.70 Td (the ) Tj ET Q q 0 0 0 rg BT 288.02 102.70 Td (call ) Tj ET Q q 0 0 0 rg BT 301.28 102.70 Td (premium ) Tj ET Q q 0 0 0 rg BT 331.87 102.70 Td (related ) Tj ET Q q 0 0 0 rg BT 355.34 102.70 Td (to ) Tj ET Q q 0 0 0 rg BT 363.28 102.70 Td (both ) Tj ET Q q 0 0 0 rg BT 379.21 102.70 Td (the ) Tj ET Q q 0 0 0 rg BT 390.69 102.70 Td (2016 ) Tj ET Q q 0 0 0 rg BT 408.40 102.70 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 428.33 102.70 Td (Rate ) Tj ET Q q 0 0 0 rg BT 444.70 102.70 Td (Notes ) Tj ET Q q 0 0 0 rg BT 465.08 102.70 Td (and ) Tj ET Q q 0 0 0 rg BT 478.34 102.70 Td (the ) Tj ET Q q 0 0 0 rg BT 489.82 102.70 Td (2017 ) Tj ET Q q 0 0 0 rg BT 507.53 102.70 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 527.46 102.70 Td (Rate ) Tj ET Q q 0 0 0 rg BT 543.83 102.70 Td (Notes ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 93.10 Td (as ) Tj ET Q q 0 0 0 rg BT 58.28 93.10 Td (well ) Tj ET Q q 0 0 0 rg BT 74.18 93.10 Td (as ) Tj ET Q q 0 0 0 rg BT 82.96 93.10 Td (the ) Tj ET Q q 0 0 0 rg BT 94.85 93.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 128.96 93.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 167.52 93.10 Td (under ) Tj ET Q q 0 0 0 rg BT 187.86 93.10 Td (the ) Tj ET Q q 0 0 0 rg BT 199.75 93.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 217.72 93.10 Td (T) Tj ET Q q 0 0 0 rg BT 222.04 93.10 Td (erm ) Tj ET Q q 0 0 0 rg BT 236.60 93.10 Td (Loan ) Tj ET Q q 0 0 0 rg BT 255.16 93.10 Td (and ) Tj ET Q q 0 0 0 rg BT 268.83 93.10 Td (the ) Tj ET Q q 0 0 0 rg BT 280.72 93.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 298.84 93.10 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 334.29 93.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 356.41 93.10 Td (Facility) Tj ET Q q 0 0 0 rg BT 380.33 93.10 Td (. ) Tj ET Q q 0 0 0 rg BT 384.29 93.10 Td (The ) Tj ET Q q 0 0 0 rg BT 398.85 93.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 417.86 93.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 433.75 93.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 460.30 93.10 Td (will ) Tj ET Q q 0 0 0 rg BT 474.86 93.10 Td (accrete ) Tj ET Q q 0 0 0 rg BT 499.62 93.10 Td (further ) Tj ET Q q 0 0 0 rg BT 523.51 93.10 Td (during ) Tj ET Q q 0 0 0 rg BT 546.51 93.10 Td (2015 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 83.50 Td (as ) Tj ET Q q 0 0 0 rg BT 57.99 83.50 Td (we ) Tj ET Q q 0 0 0 rg BT 69.14 83.50 Td (are ) Tj ET Q q 0 0 0 rg BT 80.73 83.50 Td (required ) Tj ET Q q 0 0 0 rg BT 109.21 83.50 Td (to ) Tj ET Q q 0 0 0 rg BT 117.25 83.50 Td (pay ) Tj ET Q q 0 0 0 rg BT 130.63 83.50 Td (interest ) Tj ET Q q 0 0 0 rg BT 156.00 83.50 Td (on ) Tj ET Q q 0 0 0 rg BT 165.82 83.50 Td (the ) Tj ET Q q 0 0 0 rg BT 177.42 83.50 Td (2017 ) Tj ET Q q 0 0 0 rg BT 195.25 83.50 Td (PIK ) Tj ET Q q 0 0 0 rg BT 209.96 83.50 Td (Notes ) Tj ET Q q 0 0 0 rg BT 230.45 83.50 Td (in ) Tj ET Q q 0 0 0 rg BT 238.50 83.50 Td (kind ) Tj ET Q q 0 0 0 rg BT 254.54 83.50 Td (until ) Tj ET Q q 0 0 0 rg BT 271.04 83.50 Td (November ) Tj ET Q q 0 0 0 rg BT 306.63 83.50 Td (2015. ) Tj ET Q q 0 0 0 rg BT 326.32 83.50 Td (W) Tj ET Q q 0 0 0 rg BT 333.23 83.50 Td (e ) Tj ET Q q 0 0 0 rg BT 338.60 83.50 Td (also ) Tj ET Q q 0 0 0 rg BT 353.31 83.50 Td (have ) Tj ET Q q 0 0 0 rg BT 370.24 83.50 Td (the ) Tj ET Q q 0 0 0 rg BT 381.84 83.50 Td (option ) Tj ET Q q 0 0 0 rg BT 404.11 83.50 Td (to ) Tj ET Q q 0 0 0 rg BT 412.15 83.50 Td (pay ) Tj ET Q q 0 0 0 rg BT 425.53 83.50 Td (interest ) Tj ET Q q 0 0 0 rg BT 450.90 83.50 Td (in ) Tj ET Q q 0 0 0 rg BT 458.95 83.50 Td (kind ) Tj ET Q q 0 0 0 rg BT 474.99 83.50 Td (on ) Tj ET Q q 0 0 0 rg BT 484.82 83.50 Td (the ) Tj ET Q q 0 0 0 rg BT 496.42 83.50 Td (2017 ) Tj ET Q q 0 0 0 rg BT 514.11 83.50 Td (T) Tj ET Q q 0 0 0 rg BT 518.44 83.50 Td (erm ) Tj ET Q q 0 0 0 rg BT 532.70 83.50 Td (Loan ) Tj ET Q q 0 0 0 rg BT 550.96 83.50 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 73.90 Td (2017 ) Tj ET Q q 0 0 0 rg BT 67.08 73.90 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 102.00 73.90 Td (Credit ) Tj ET Q q 0 0 0 rg BT 123.58 73.90 Td (Facility) Tj ET Q q 0 0 0 rg BT 147.50 73.90 Td (, ) Tj ET Q q 0 0 0 rg BT 151.08 73.90 Td (as ) Tj ET Q q 0 0 0 rg BT 159.33 73.90 Td (well ) Tj ET Q q 0 0 0 rg BT 174.69 73.90 Td (as ) Tj ET Q q 0 0 0 rg BT 182.93 73.90 Td (the ) Tj ET Q q 0 0 0 rg BT 194.29 73.90 Td (credit ) Tj ET Q q 0 0 0 rg BT 214.08 73.90 Td (support ) Tj ET Q q 0 0 0 rg BT 239.67 73.90 Td (fee ) Tj ET Q q 0 0 0 rg BT 251.01 73.90 Td (associated ) Tj ET Q q 0 0 0 rg BT 285.47 73.90 Td (with ) Tj ET Q q 0 0 0 rg BT 301.28 73.90 Td (the ) Tj ET Q q 0 0 0 rg BT 312.63 73.90 Td (2017 ) Tj ET Q q 0 0 0 rg BT 330.22 73.90 Td (Euro ) Tj ET Q q 0 0 0 rg BT 347.24 73.90 Td (T) Tj ET Q q 0 0 0 rg BT 351.57 73.90 Td (erm ) Tj ET Q q 0 0 0 rg BT 365.59 73.90 Td (Loan. ) Tj ET Q q 0 0 0 rg BT 385.61 73.90 Td (However) Tj ET Q q 0 0 0 rg BT 414.61 73.90 Td (, ) Tj ET Q q 0 0 0 rg BT 418.19 73.90 Td (the ) Tj ET Q q 0 0 0 rg BT 429.55 73.90 Td (series ) Tj ET Q q 0 0 0 rg BT 449.34 73.90 Td (of ) Tj ET Q q 0 0 0 rg BT 457.59 73.90 Td (financing ) Tj ET Q q 0 0 0 rg BT 489.38 73.90 Td (transactions ) Tj ET Q q 0 0 0 rg BT 529.18 73.90 Td (completed ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 64.30 Td (in ) Tj ET Q q 0 0 0 rg BT 58.04 64.30 Td (2014 ) Tj ET Q q 0 0 0 rg BT 76.36 64.30 Td (provided ) Tj ET Q q 0 0 0 rg BT 107.12 64.30 Td (the ) Tj ET Q q 0 0 0 rg BT 119.21 64.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 152.64 64.30 Td (with ) Tj ET Q q 0 0 0 rg BT 169.18 64.30 Td (the ) Tj ET Q q 0 0 0 rg BT 181.27 64.30 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 210.71 64.30 Td (to ) Tj ET Q q 0 0 0 rg BT 219.25 64.30 Td (continue ) Tj ET Q q 0 0 0 rg BT 249.12 64.30 Td (executing ) Tj ET Q q 0 0 0 rg BT 282.53 64.30 Td (its ) Tj ET Q q 0 0 0 rg BT 292.41 64.30 Td (operating ) Tj ET Q q 0 0 0 rg BT 324.94 64.30 Td (plan ) Tj ET Q q 0 0 0 rg BT 341.03 64.30 Td (and ) Tj ET Q q 0 0 0 rg BT 354.90 64.30 Td (allowed ) Tj ET Q q 0 0 0 rg BT 382.55 64.30 Td (it ) Tj ET Q q 0 0 0 rg BT 389.31 64.30 Td (to ) Tj ET Q q 0 0 0 rg BT 397.85 64.30 Td (become ) Tj ET Q q 0 0 0 rg BT 425.05 64.30 Td (current ) Tj ET Q q 0 0 0 rg BT 450.02 64.30 Td (on ) Tj ET Q q 0 0 0 rg BT 460.34 64.30 Td (significantly ) Tj ET Q q 0 0 0 rg BT 502.65 64.30 Td (overdue ) Tj ET Q q 0 0 0 rg BT 530.74 64.30 Td (liabilities. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 54.70 Td (Additionally) Tj ET Q q 0 0 0 rg BT 89.42 54.70 Td (, ) Tj ET Q q 0 0 0 rg BT 93.25 54.70 Td (these ) Tj ET Q q 0 0 0 rg BT 111.51 54.70 Td (transactions ) Tj ET Q q 0 0 0 rg BT 151.54 54.70 Td (reduce ) Tj ET Q q 0 0 0 rg BT 174.68 54.70 Td (our ) Tj ET Q q 0 0 0 rg BT 187.17 54.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 203.21 54.70 Td (interest ) Tj ET Q q 0 0 0 rg BT 228.58 54.70 Td (burden ) Tj ET Q q 0 0 0 rg BT 252.61 54.70 Td (in ) Tj ET Q q 0 0 0 rg BT 260.66 54.70 Td (2015 ) Tj ET Q q 0 0 0 rg BT 278.48 54.70 Td (by ) Tj ET Q q 0 0 0 rg BT 288.31 54.70 Td (up ) Tj ET Q q 0 0 0 rg BT 298.13 54.70 Td (to ) Tj ET Q q 0 0 0 rg BT 306.17 54.70 Td (an ) Tj ET Q q 0 0 0 rg BT 315.55 54.70 Td (additional ) Tj ET Q q 0 0 0 rg BT 349.36 54.70 Td (US$ ) Tj ET Q q 0 0 0 rg BT 365.41 54.70 Td (57.0 ) Tj ET Q q 0 0 0 rg BT 381.24 54.70 Td (million ) Tj ET Q q 0 0 0 rg BT 406.17 54.70 Td (compared ) Tj ET Q q 0 0 0 rg BT 439.54 54.70 Td (to ) Tj ET Q q 0 0 0 rg BT 447.58 54.70 Td (2014 ) Tj ET Q q 0 0 0 rg BT 465.41 54.70 Td (due ) Tj ET Q q 0 0 0 rg BT 478.78 54.70 Td (to ) Tj ET Q q 0 0 0 rg BT 486.83 54.70 Td (our ) Tj ET Q q 0 0 0 rg BT 499.31 54.70 Td (ability ) Tj ET Q q 0 0 0 rg BT 521.58 54.70 Td (or ) Tj ET Q q 0 0 0 rg BT 530.06 54.70 Td (obligation ) Tj ET Q endstream endobj 49 0 obj <>] /Rotate 0 /Contents 50 0 R>> endobj 50 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (22) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 723.50 Td (to ) Tj ET Q q 0 0 0 rg BT 57.52 723.50 Td (pay ) Tj ET Q q 0 0 0 rg BT 70.87 723.50 Td (interest ) Tj ET Q q 0 0 0 rg BT 96.22 723.50 Td (and ) Tj ET Q q 0 0 0 rg BT 109.57 723.50 Td (fees ) Tj ET Q q 0 0 0 rg BT 124.25 723.50 Td (in ) Tj ET Q q 0 0 0 rg BT 132.27 723.50 Td (kind. ) Tj ET Q q 0 0 0 rg BT 149.90 723.50 Td (As ) Tj ET Q q 0 0 0 rg BT 160.59 723.50 Td (a ) Tj ET Q q 0 0 0 rg BT 165.94 723.50 Td (result, ) Tj ET Q q 0 0 0 rg BT 187.51 723.50 Td (we ) Tj ET Q q 0 0 0 rg BT 198.64 723.50 Td (anticipate ) Tj ET Q q 0 0 0 rg BT 231.53 723.50 Td (positive ) Tj ET Q q 0 0 0 rg BT 258.66 723.50 Td (free ) Tj ET Q q 0 0 0 rg BT 272.89 723.50 Td (cash ) Tj ET Q q 0 0 0 rg BT 288.91 723.50 Td (flow ) Tj ET Q q 0 0 0 rg BT 305.37 723.50 Td (in ) Tj ET Q q 0 0 0 rg BT 313.39 723.50 Td (2015 ) Tj ET Q q 0 0 0 rg BT 331.19 723.50 Td (without ) Tj ET Q q 0 0 0 rg BT 357.44 723.50 Td (taking ) Tj ET Q q 0 0 0 rg BT 379.24 723.50 Td (into ) Tj ET Q q 0 0 0 rg BT 393.48 723.50 Td (account ) Tj ET Q q 0 0 0 rg BT 420.16 723.50 Td (any ) Tj ET Q q 0 0 0 rg BT 433.51 723.50 Td (cash ) Tj ET Q q 0 0 0 rg BT 449.52 723.50 Td (impact ) Tj ET Q q 0 0 0 rg BT 473.09 723.50 Td (of ) Tj ET Q q 0 0 0 rg BT 481.55 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 493.13 723.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 504.70 723.50 Td (audits ) Tj ET Q q 0 0 0 rg BT 525.61 723.50 Td (in ) Tj ET Q q 0 0 0 rg BT 533.63 723.50 Td (Romania ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 713.90 Td (\(see ) Tj ET Q q 0 0 0 rg BT 64.38 713.90 Td (Item ) Tj ET Q q 0 0 0 rg BT 81.04 713.90 Td (8, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 89.04 713.90 Td (Note ) Tj ET Q q 0 0 0 rg BT 106.59 713.90 Td (21, ) Tj ET Q q 0 0 0 rg BT 118.59 713.90 Td ("Commitments ) Tj ET Q q 0 0 0 rg BT 169.19 713.90 Td (and ) Tj ET Q q 0 0 0 rg BT 182.74 713.90 Td (Contingencies") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.78 713.90 Td (\). ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 695.30 Td (Market ) Tj ET Q q 0 0 0 rg BT 74.60 695.30 Td (Information) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 679.70 Td (After ) Tj ET Q q 0 0 0 rg BT 67.80 679.70 Td (adjusting ) Tj ET Q q 0 0 0 rg BT 98.55 679.70 Td (for ) Tj ET Q q 0 0 0 rg BT 109.30 679.70 Td (inflation, ) Tj ET Q q 0 0 0 rg BT 139.82 679.70 Td (we ) Tj ET Q q 0 0 0 rg BT 150.57 679.70 Td (estimate ) Tj ET Q q 0 0 0 rg BT 178.65 679.70 Td (that ) Tj ET Q q 0 0 0 rg BT 192.06 679.70 Td (overall ) Tj ET Q q 0 0 0 rg BT 215.70 679.70 Td (real ) Tj ET Q q 0 0 0 rg BT 229.10 679.70 Td (GDP) Tj ET Q q 0 0 0 rg BT 244.81 679.70 Td ( ) Tj ET Q q 0 0 0 rg BT 246.23 679.70 Td (grew ) Tj ET Q q 0 0 0 rg BT 263.64 679.70 Td (during ) Tj ET Q q 0 0 0 rg BT 285.95 679.70 Td (2014 ) Tj ET Q q 0 0 0 rg BT 303.37 679.70 Td (in ) Tj ET Q q 0 0 0 rg BT 311.01 679.70 Td (the ) Tj ET Q q 0 0 0 rg BT 322.21 679.70 Td (countries ) Tj ET Q q 0 0 0 rg BT 352.95 679.70 Td (in ) Tj ET Q q 0 0 0 rg BT 360.59 679.70 Td (which ) Tj ET Q q 0 0 0 rg BT 381.56 679.70 Td (we ) Tj ET Q q 0 0 0 rg BT 392.31 679.70 Td (operate, ) Tj ET Q q 0 0 0 rg BT 419.27 679.70 Td (with ) Tj ET Q q 0 0 0 rg BT 434.91 679.70 Td (growth ) Tj ET Q q 0 0 0 rg BT 459.00 679.70 Td (of ) Tj ET Q q 0 0 0 rg BT 467.08 679.70 Td (more ) Tj ET Q q 0 0 0 rg BT 484.94 679.70 Td (than ) Tj ET Q q 0 0 0 rg BT 500.13 679.70 Td (2% ) Tj ET Q q 0 0 0 rg BT 512.21 679.70 Td (when ) Tj ET Q q 0 0 0 rg BT 530.96 679.70 Td (compared ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 670.10 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.29 670.10 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 73.29 670.10 Td ( ) Tj ET Q q 0 0 0 rg BT 74.87 670.10 Td (in ) Tj ET Q q 0 0 0 rg BT 82.66 670.10 Td (our ) Tj ET Q q 0 0 0 rg BT 94.89 670.10 Td (three ) Tj ET Q q 0 0 0 rg BT 112.45 670.10 Td (lar) Tj ET Q q 0 0 0 rg BT 120.75 670.10 Td (gest ) Tj ET Q q 0 0 0 rg BT 135.21 670.10 Td (markets. ) Tj ET Q q 0 0 0 rg BT 164.10 670.10 Td (Real ) Tj ET Q q 0 0 0 rg BT 180.33 670.10 Td (private ) Tj ET Q q 0 0 0 rg BT 204.11 670.10 Td (consumption ) Tj ET Q q 0 0 0 rg BT 247.02 670.10 Td (is ) Tj ET Q q 0 0 0 rg BT 253.92 670.10 Td (also ) Tj ET Q q 0 0 0 rg BT 268.38 670.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 300.61 670.10 Td (to ) Tj ET Q q 0 0 0 rg BT 308.40 670.10 Td (have ) Tj ET Q q 0 0 0 rg BT 325.08 670.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 356.85 670.10 Td (overall ) Tj ET Q q 0 0 0 rg BT 380.63 670.10 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.09 670.10 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 419.09 670.10 Td ( ) Tj ET Q q 0 0 0 rg BT 420.66 670.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 453.77 670.10 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 461.57 670.10 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.57 670.10 Td (, ) Tj ET Q q 0 0 0 rg BT 481.14 670.10 Td (in ) Tj ET Q q 0 0 0 rg BT 488.93 670.10 Td (contrast ) Tj ET Q q 0 0 0 rg BT 515.83 670.10 Td (to ) Tj ET Q q 0 0 0 rg BT 523.62 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 534.97 670.10 Td (previous ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 660.50 Td (two ) Tj ET Q q 0 0 0 rg BT 63.50 660.50 Td (years ) Tj ET Q q 0 0 0 rg BT 82.38 660.50 Td (when ) Tj ET Q q 0 0 0 rg BT 101.71 660.50 Td (private ) Tj ET Q q 0 0 0 rg BT 125.92 660.50 Td (consumption ) Tj ET Q q 0 0 0 rg BT 169.25 660.50 Td (contracted ) Tj ET Q q 0 0 0 rg BT 204.56 660.50 Td (overall. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 644.90 Td (The ) Tj ET Q q 0 0 0 rg BT 63.94 644.90 Td (following ) Tj ET Q q 0 0 0 rg BT 97.05 644.90 Td (table ) Tj ET Q q 0 0 0 rg BT 114.59 644.90 Td (sets ) Tj ET Q q 0 0 0 rg BT 128.59 644.90 Td (out ) Tj ET Q q 0 0 0 rg BT 140.82 644.90 Td (our ) Tj ET Q q 0 0 0 rg BT 153.48 644.90 Td (estimates ) Tj ET Q q 0 0 0 rg BT 185.25 644.90 Td (of ) Tj ET Q q 0 0 0 rg BT 193.91 644.90 Td (television ) Tj ET Q q 0 0 0 rg BT 227.02 644.90 Td (advertising ) Tj ET Q q 0 0 0 rg BT 264.57 644.90 Td (spending ) Tj ET Q q 0 0 0 rg BT 295.45 644.90 Td (net ) Tj ET Q q 0 0 0 rg BT 307.23 644.90 Td (of ) Tj ET Q q 0 0 0 rg BT 315.89 644.90 Td (discounts ) Tj ET Q q 0 0 0 rg BT 348.11 644.90 Td (by ) Tj ET Q q 0 0 0 rg BT 358.11 644.90 Td (country ) Tj ET Q q 0 0 0 rg BT 384.55 644.90 Td (\(in ) Tj ET Q q 0 0 0 rg BT 395.44 644.90 Td (US$ ) Tj ET Q q 0 0 0 rg BT 411.66 644.90 Td (millions\) ) Tj ET Q q 0 0 0 rg BT 442.55 644.90 Td (for ) Tj ET Q q 0 0 0 rg BT 453.88 644.90 Td (the ) Tj ET Q q 0 0 0 rg BT 465.66 644.90 Td (years ) Tj ET Q q 0 0 0 rg BT 484.54 644.90 Td (set ) Tj ET Q q 0 0 0 rg BT 495.42 644.90 Td (forth ) Tj ET Q q 0 0 0 rg BT 512.97 644.90 Td (below:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 621.40 288.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 621.40 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 621.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 621.40 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 621.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 621.40 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 591.40 288.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 591.40 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 591.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 591.40 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 591.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 591.40 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 561.40 288.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 561.40 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 561.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 561.40 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 561.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 561.40 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 531.40 288.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 531.40 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 531.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 531.40 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 531.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 531.40 72.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 621.4 m 409.5 621.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 621.4 m 485.5 621.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 621.4 m 561.5 621.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 621.4 m 409.5 621.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 621.4 m 485.5 621.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 621.4 m 561.5 621.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 531.4 m 409.5 531.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 531.4 m 485.5 531.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 531.4 m 561.5 531.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 531.4 m 409.5 531.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 517.4 m 409.5 517.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 515.4 m 409.5 515.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 531.4 m 485.5 531.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 517.4 m 485.5 517.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 515.4 m 485.5 515.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 531.4 m 561.5 531.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 517.4 m 561.5 517.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 515.4 m 561.5 515.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 515.4 m 561.5 515.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 517.4 m 561.5 517.4 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 625.63 Td (Country) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 390.00 625.63 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.00 625.63 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 542.00 625.63 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 610.65 Td (Bulgaria) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.00 610.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.30 610.65 Td (107) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.00 610.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.65 610.65 Td (111) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.00 610.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.65 610.65 Td (109) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 595.65 Td (Croatia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.30 595.65 Td (101) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.65 595.65 Td (97) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.65 595.65 Td (101) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 580.65 Td (Czech Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.30 580.65 Td (308) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.65 580.65 Td (291) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.65 580.65 Td (325) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 565.65 Td (Romania*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.30 565.65 Td (199) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.65 565.65 Td (189) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.65 565.65 Td (192) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 550.65 Td (Slovak Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.30 550.65 Td (126) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.65 550.65 Td (122) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.65 550.65 Td (134) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 535.65 Td (Slovenia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.30 535.65 Td (67) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.65 535.65 Td (71) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 543.65 535.65 Td (77) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 520.63 Td (Total CME Markets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 340.00 520.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 390.30 520.63 Td (908) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 416.00 520.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.65 520.63 Td (881) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.00 520.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 539.65 520.63 Td (938) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.00 505.65 Td (Growth rate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.30 505.65 Td (3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.30 505.65 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.95 505.65 Td (\(6) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.65 505.65 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.95 505.65 Td (\(6) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.65 505.65 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 492.30 Td (* ) Tj ET Q q 0 0 0 rg BT 55.50 492.30 Td (Romania ) Tj ET Q q 0 0 0 rg BT 86.38 492.30 Td (market ) Tj ET Q q 0 0 0 rg BT 110.59 492.30 Td (excludes ) Tj ET Q q 0 0 0 rg BT 140.58 492.30 Td (Moldova.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 482.70 Td (Source: ) Tj ET Q q 0 0 0 rg BT 75.94 482.70 Td (CME ) Tj ET Q q 0 0 0 rg BT 95.27 482.70 Td (estimates, ) Tj ET Q q 0 0 0 rg BT 129.04 482.70 Td (quoted ) Tj ET Q q 0 0 0 rg BT 152.82 482.70 Td (using ) Tj ET Q q 0 0 0 rg BT 172.15 482.70 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 183.93 482.70 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 199.93 482.70 Td ( ) Tj ET Q q 0 0 0 rg BT 201.93 482.70 Td (average ) Tj ET Q q 0 0 0 rg BT 228.79 482.70 Td (exchange ) Tj ET Q q 0 0 0 rg BT 261.00 482.70 Td (rate ) Tj ET Q q 0 0 0 rg BT 274.98 482.70 Td (for ) Tj ET Q q 0 0 0 rg BT 286.31 482.70 Td (all ) Tj ET Q q 0 0 0 rg BT 296.31 482.70 Td (periods ) Tj ET Q q 0 0 0 rg BT 321.86 482.70 Td (presented ) Tj ET Q q 0 0 0 rg BT 354.51 482.70 Td (above.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 467.10 Td (On ) Tj ET Q q 0 0 0 rg BT 60.95 467.10 Td (a ) Tj ET Q q 0 0 0 rg BT 66.17 467.10 Td (constant ) Tj ET Q q 0 0 0 rg BT 94.50 467.10 Td (currency ) Tj ET Q q 0 0 0 rg BT 124.14 467.10 Td (basis, ) Tj ET Q q 0 0 0 rg BT 143.81 467.10 Td (we ) Tj ET Q q 0 0 0 rg BT 154.81 467.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 183.14 467.10 Td (television ) Tj ET Q q 0 0 0 rg BT 215.91 467.10 Td (advertising ) Tj ET Q q 0 0 0 rg BT 253.13 467.10 Td (spending ) Tj ET Q q 0 0 0 rg BT 283.68 467.10 Td (in ) Tj ET Q q 0 0 0 rg BT 291.57 467.10 Td (our ) Tj ET Q q 0 0 0 rg BT 303.91 467.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 330.90 467.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 362.77 467.10 Td (overall ) Tj ET Q q 0 0 0 rg BT 386.65 467.10 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.32 467.10 Td (3%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.98 467.10 Td ( ) Tj ET Q q 0 0 0 rg BT 408.65 467.10 Td (in ) Tj ET Q q 0 0 0 rg BT 416.54 467.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 434.21 467.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 467.42 467.10 Td (to ) Tj ET Q q 0 0 0 rg BT 475.31 467.10 Td (the ) Tj ET Q q 0 0 0 rg BT 486.76 467.10 Td (previous ) Tj ET Q q 0 0 0 rg BT 515.98 467.10 Td (year) Tj ET Q q 0 0 0 rg BT 529.30 467.10 Td (. ) Tj ET Q q 0 0 0 rg BT 532.85 467.10 Td (The ) Tj ET Q q 0 0 0 rg BT 546.95 467.10 Td (most ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 457.50 Td (notable ) Tj ET Q q 0 0 0 rg BT 74.85 457.50 Td (increase ) Tj ET Q q 0 0 0 rg BT 102.85 457.50 Td (was ) Tj ET Q q 0 0 0 rg BT 117.09 457.50 Td (in ) Tj ET Q q 0 0 0 rg BT 125.12 457.50 Td (the ) Tj ET Q q 0 0 0 rg BT 136.69 457.50 Td (Czech ) Tj ET Q q 0 0 0 rg BT 158.48 457.50 Td (Republic, ) Tj ET Q q 0 0 0 rg BT 191.16 457.50 Td (where ) Tj ET Q q 0 0 0 rg BT 212.51 457.50 Td (the ) Tj ET Q q 0 0 0 rg BT 224.08 457.50 Td (market ) Tj ET Q q 0 0 0 rg BT 248.09 457.50 Td (was ) Tj ET Q q 0 0 0 rg BT 262.34 457.50 Td (estimated ) Tj ET Q q 0 0 0 rg BT 294.79 457.50 Td (to ) Tj ET Q q 0 0 0 rg BT 302.82 457.50 Td (have ) Tj ET Q q 0 0 0 rg BT 319.72 457.50 Td (increased ) Tj ET Q q 0 0 0 rg BT 351.72 457.50 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 361.52 457.50 Td (6%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.19 457.50 Td ( ) Tj ET Q q 0 0 0 rg BT 373.99 457.50 Td (due ) Tj ET Q q 0 0 0 rg BT 387.34 457.50 Td (in ) Tj ET Q q 0 0 0 rg BT 395.36 457.50 Td (lar) Tj ET Q q 0 0 0 rg BT 403.66 457.50 Td (ge ) Tj ET Q q 0 0 0 rg BT 413.01 457.50 Td (part ) Tj ET Q q 0 0 0 rg BT 427.25 457.50 Td (to ) Tj ET Q q 0 0 0 rg BT 435.27 457.50 Td (an ) Tj ET Q q 0 0 0 rg BT 444.62 457.50 Td (increase ) Tj ET Q q 0 0 0 rg BT 472.63 457.50 Td (in ) Tj ET Q q 0 0 0 rg BT 480.65 457.50 Td (the ) Tj ET Q q 0 0 0 rg BT 492.22 457.50 Td (consumption ) Tj ET Q q 0 0 0 rg BT 535.36 457.50 Td (of ) Tj ET Q q 0 0 0 rg BT 543.82 457.50 Td (GRPs ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 447.90 Td (from ) Tj ET Q q 0 0 0 rg BT 67.51 447.90 Td (our ) Tj ET Q q 0 0 0 rg BT 80.64 447.90 Td (channels ) Tj ET Q q 0 0 0 rg BT 111.09 447.90 Td (following ) Tj ET Q q 0 0 0 rg BT 144.67 447.90 Td (the ) Tj ET Q q 0 0 0 rg BT 156.91 447.90 Td (changes ) Tj ET Q q 0 0 0 rg BT 185.13 447.90 Td (made ) Tj ET Q q 0 0 0 rg BT 204.92 447.90 Td (to ) Tj ET Q q 0 0 0 rg BT 213.61 447.90 Td (our ) Tj ET Q q 0 0 0 rg BT 226.74 447.90 Td (sales ) Tj ET Q q 0 0 0 rg BT 244.75 447.90 Td (policy ) Tj ET Q q 0 0 0 rg BT 267.21 447.90 Td (in ) Tj ET Q q 0 0 0 rg BT 275.90 447.90 Td (that ) Tj ET Q q 0 0 0 rg BT 290.36 447.90 Td (country) Tj ET Q q 0 0 0 rg BT 314.28 447.90 Td (. ) Tj ET Q q 0 0 0 rg BT 318.56 447.90 Td (These ) Tj ET Q q 0 0 0 rg BT 340.13 447.90 Td (changes ) Tj ET Q q 0 0 0 rg BT 368.36 447.90 Td (also ) Tj ET Q q 0 0 0 rg BT 383.71 447.90 Td (had ) Tj ET Q q 0 0 0 rg BT 397.72 447.90 Td (a ) Tj ET Q q 0 0 0 rg BT 403.74 447.90 Td (positive ) Tj ET Q q 0 0 0 rg BT 431.53 447.90 Td (impact ) Tj ET Q q 0 0 0 rg BT 455.77 447.90 Td (on ) Tj ET Q q 0 0 0 rg BT 466.23 447.90 Td (the ) Tj ET Q q 0 0 0 rg BT 478.47 447.90 Td (consumption ) Tj ET Q q 0 0 0 rg BT 522.26 447.90 Td (of ) Tj ET Q q 0 0 0 rg BT 531.39 447.90 Td (television ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 438.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 87.13 438.30 Td (in ) Tj ET Q q 0 0 0 rg BT 95.45 438.30 Td (the ) Tj ET Q q 0 0 0 rg BT 107.31 438.30 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 131.62 438.30 Td (Republic ) Tj ET Q q 0 0 0 rg BT 162.59 438.30 Td (leading ) Tj ET Q q 0 0 0 rg BT 188.22 438.30 Td (to ) Tj ET Q q 0 0 0 rg BT 196.53 438.30 Td (growth ) Tj ET Q q 0 0 0 rg BT 221.29 438.30 Td (in ) Tj ET Q q 0 0 0 rg BT 229.60 438.30 Td (that ) Tj ET Q q 0 0 0 rg BT 243.68 438.30 Td (market ) Tj ET Q q 0 0 0 rg BT 267.98 438.30 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 276.73 438.30 Td (4%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 287.39 438.30 Td (. ) Tj ET Q q 0 0 0 rg BT 291.48 438.30 Td (Romania ) Tj ET Q q 0 0 0 rg BT 322.45 438.30 Td (continued ) Tj ET Q q 0 0 0 rg BT 356.09 438.30 Td (to ) Tj ET Q q 0 0 0 rg BT 364.40 438.30 Td (benefit ) Tj ET Q q 0 0 0 rg BT 388.70 438.30 Td (from ) Tj ET Q q 0 0 0 rg BT 406.34 438.30 Td (increased ) Tj ET Q q 0 0 0 rg BT 438.63 438.30 Td (demand ) Tj ET Q q 0 0 0 rg BT 466.04 438.30 Td (for ) Tj ET Q q 0 0 0 rg BT 477.46 438.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 515.09 438.30 Td (while ) Tj ET Q q 0 0 0 rg BT 534.95 438.30 Td (Bulgaria ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 428.70 Td (and ) Tj ET Q q 0 0 0 rg BT 62.14 428.70 Td (Slovenia ) Tj ET Q q 0 0 0 rg BT 91.22 428.70 Td (remain ) Tj ET Q q 0 0 0 rg BT 114.52 428.70 Td (very ) Tj ET Q q 0 0 0 rg BT 129.82 428.70 Td (competitive, ) Tj ET Q q 0 0 0 rg BT 170.67 428.70 Td (resulting ) Tj ET Q q 0 0 0 rg BT 199.76 428.70 Td (in ) Tj ET Q q 0 0 0 rg BT 207.07 428.70 Td (downward ) Tj ET Q q 0 0 0 rg BT 241.92 428.70 Td (pressure ) Tj ET Q q 0 0 0 rg BT 269.67 428.70 Td (on ) Tj ET Q q 0 0 0 rg BT 278.75 428.70 Td (prices. ) Tj ET Q q 0 0 0 rg BT 300.86 428.70 Td (The ) Tj ET Q q 0 0 0 rg BT 314.39 428.70 Td (advertising ) Tj ET Q q 0 0 0 rg BT 351.02 428.70 Td (market ) Tj ET Q q 0 0 0 rg BT 374.32 428.70 Td (in ) Tj ET Q q 0 0 0 rg BT 381.63 428.70 Td (Croatia ) Tj ET Q q 0 0 0 rg BT 406.26 428.70 Td (grew ) Tj ET Q q 0 0 0 rg BT 423.34 428.70 Td (during ) Tj ET Q q 0 0 0 rg BT 445.31 428.70 Td (2014 ) Tj ET Q q 0 0 0 rg BT 462.40 428.70 Td (despite ) Tj ET Q q 0 0 0 rg BT 486.15 428.70 Td (a ) Tj ET Q q 0 0 0 rg BT 490.79 428.70 Td (persistent ) Tj ET Q q 0 0 0 rg BT 522.53 428.70 Td (recessionary ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 419.10 Td (environment. ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 400.50 Td (Segment ) Tj ET Q q 0 0 0 rg BT 78.60 400.50 Td (Performance) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 330.00 111.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 330.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 330.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 330.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 330.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 330.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 330.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 330.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 330.00 9.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 330.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 330.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 330.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 330.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 330.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 330.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 330.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 300.00 111.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 300.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 300.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 300.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 300.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 300.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 300.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 300.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 300.00 9.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 300.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 300.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 300.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 300.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 300.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 300.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 300.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 270.00 111.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 270.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 270.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 270.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 270.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 270.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 270.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 270.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 270.00 9.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 270.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 270.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 270.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 270.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 270.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 270.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 270.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 240.00 111.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 240.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 240.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 240.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 240.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 240.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 240.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 240.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 240.00 9.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 240.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 240.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 240.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 240.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 240.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 240.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 240.00 46.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 375 m 206.5 375 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 206.5 375 m 210.5 375 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 375 m 256.5 375 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 375 m 260.5 375 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 375 m 306.5 375 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 375 m 310.5 375 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 375 m 356.5 375 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 375 m 365.5 375 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 375 m 411.5 375 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 375 m 415.5 375 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 375 m 461.5 375 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 375 m 465.5 375 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 375 m 511.5 375 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 375 m 515.5 375 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 375 m 561.5 375 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 375 m 206.5 375 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 360 m 206.5 360 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 206.5 360 m 210.5 360 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 360 m 256.5 360 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 360 m 260.5 360 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 360 m 306.5 360 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 360 m 310.5 360 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 360 m 356.5 360 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 375 m 365.5 375 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 360 m 365.5 360 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 375 m 411.5 375 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 360 m 411.5 360 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 375 m 415.5 375 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 360 m 415.5 360 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 375 m 461.5 375 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 360 m 461.5 360 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 375 m 465.5 375 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 360 m 465.5 360 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 375 m 511.5 375 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 360 m 511.5 360 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 375 m 515.5 375 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 360 m 515.5 360 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 375 m 561.5 375 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 360 m 561.5 360 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 345 m 306.5 345 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 345 m 310.5 345 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 345 m 356.5 345 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 360 m 511.5 360 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 345 m 511.5 345 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 360 m 515.5 360 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 345 m 515.5 345 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 360 m 561.5 360 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 345 m 561.5 345 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 330 m 206.5 330 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 330 m 256.5 330 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 330 m 306.5 330 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 330 m 356.5 330 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 330 m 411.5 330 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 330 m 461.5 330 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 330 m 511.5 330 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 330 m 561.5 330 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 225 m 206.5 225 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 212 m 206.5 212 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 210 m 206.5 210 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 225 m 256.5 225 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 212 m 256.5 212 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 210 m 256.5 210 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 225 m 411.5 225 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 212 m 411.5 212 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 210 m 411.5 210 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 225 m 461.5 225 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 212 m 461.5 212 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 210 m 461.5 210 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 379.25 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 329.55 379.23 Td (NET REVENUES) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 364.25 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 279.80 364.23 Td (For The Year Ending December 31, \(US$ 000's\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 349.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 163.00 349.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 213.00 349.25 Td () Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 290.65 349.23 Td (Movement) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 495.65 349.23 Td (Movement) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 334.25 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 187.00 334.23 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 237.00 334.23 Td (2013) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 283.50 334.23 Td (% Act) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 334.55 334.23 Td (% Lfl) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 392.00 334.23 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.00 334.23 Td (2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.40 334.23 Td (% Act) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 537.75 334.23 Td (% Lfl) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 319.25 Td (Bulgaria) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 163.00 319.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.25 319.25 Td (87,078) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 213.00 319.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.25 319.25 Td (87,448) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 283.95 319.25 Td (\(0.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 296.65 319.25 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 336.65 319.25 Td (0.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.25 319.25 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.00 319.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.25 319.25 Td (87,448) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 319.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.25 319.25 Td (85,241) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 491.65 319.25 Td (2.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 504.30 319.25 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 538.95 319.25 Td (\(0.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 551.65 319.25 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 304.25 Td (Croatia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.25 304.25 Td (62,026) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.25 304.25 Td (61,864) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 286.65 304.25 Td (0.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 299.30 304.25 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 336.65 304.25 Td (1.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.25 304.25 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.25 304.25 Td (61,864) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.25 304.25 Td (59,299) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 491.65 304.25 Td (4.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 504.30 304.25 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 541.65 304.25 Td (2.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.30 304.25 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 289.25 Td (Czech ) Tj ET Q q 0 0 0 rg BT 73.99 289.25 Td (Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 177.25 289.25 Td (202,779) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 227.25 289.25 Td (174,939) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 282.65 289.25 Td (15.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 299.30 289.25 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 332.65 289.25 Td (24.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.25 289.25 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.25 289.25 Td (174,939) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.25 289.25 Td (252,161) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 484.95 289.25 Td (\(30.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 501.65 289.25 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 534.95 289.25 Td (\(30.0) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 551.65 289.25 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 274.25 Td (Romania) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 177.25 274.25 Td (178,614) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 227.25 274.25 Td (162,305) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 282.65 274.25 Td (10.0) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 299.30 274.25 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 332.65 274.25 Td (11.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.25 274.25 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.25 274.25 Td (162,305) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.25 274.25 Td (153,137) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 491.65 274.25 Td (6.0) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 504.30 274.25 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 541.65 274.25 Td (2.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.30 274.25 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 259.25 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 76.22 259.25 Td (Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.25 259.25 Td (90,556) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.25 259.25 Td (82,404) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 286.65 259.25 Td (9.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 299.30 259.25 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 332.65 259.25 Td (11.0) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.25 259.25 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.25 259.25 Td (82,404) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.25 259.25 Td (96,174) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 484.95 259.25 Td (\(14.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 501.65 259.25 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 534.95 259.25 Td (\(16.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 551.65 259.25 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 244.25 Td (Slovenia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.25 244.25 Td (61,370) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.25 244.25 Td (66,656) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 283.95 244.25 Td (\(7.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 296.65 244.25 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 333.95 244.25 Td (\(7.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.65 244.25 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.25 244.25 Td (66,656) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.25 244.25 Td (68,895) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 488.95 244.25 Td (\(3.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 501.65 244.25 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 538.95 244.25 Td (\(5.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 551.65 244.25 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 229.25 Td (Intersegment ) Tj ET Q q 0 0 0 rg BT 95.76 229.25 Td (revenues) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.60 229.25 Td (\(1,630) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 203.30 229.25 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 232.60 229.25 Td (\(2,482) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.30 229.25 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 282.90 229.25 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 296.90 232.87 Td (\(1\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 332.90 229.25 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 346.90 232.87 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 387.60 229.25 Td (\(2,482) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.30 229.25 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg 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533.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 519.5 m 256.5 519.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 517.5 m 256.5 517.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 533.5 m 411.5 533.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 519.5 m 411.5 519.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 517.5 m 411.5 517.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 533.5 m 461.5 533.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 519.5 m 461.5 519.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 517.5 m 461.5 517.5 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 717.75 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 347.60 717.73 Td (OIBDA) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 702.75 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 279.80 702.73 Td (For The Year Ending December 31, \(US$ 000's\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 687.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 163.00 687.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 213.00 687.75 Td () Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 290.65 687.73 Td (Movement) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 495.65 687.73 Td (Movement) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 672.75 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 187.00 672.73 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 237.00 672.73 Td (2013) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 283.50 672.73 Td (% Act) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 334.55 672.73 Td (% Lfl) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 392.00 672.73 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.00 672.73 Td (2012) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 488.50 672.73 Td (% Act) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 539.55 672.73 Td (% Lfl) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 657.75 Td (Bulgaria) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 163.00 657.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 185.25 657.75 Td (9,367) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 213.00 657.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.25 657.75 Td (13,391) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 279.95 657.75 Td (\(30.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 296.65 657.75 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 329.95 657.75 Td (\(26.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.65 657.75 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.00 657.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.25 657.75 Td (13,391) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 657.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.25 657.75 Td (13,121) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 491.65 657.75 Td (2.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 504.30 657.75 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 538.95 657.75 Td (\(1.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 551.65 657.75 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 642.75 Td (Croatia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 185.25 642.75 Td (7,835) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.25 642.75 Td (8,258) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 283.95 642.75 Td (\(5.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 296.65 642.75 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 333.95 642.75 Td (\(2.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.65 642.75 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.25 642.75 Td (8,258) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.25 642.75 Td (7,924) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 491.65 642.75 Td (4.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 504.30 642.75 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 541.65 642.75 Td (4.8) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.30 642.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 627.75 Td (Czech ) Tj ET Q q 0 0 0 rg BT 73.99 627.75 Td (Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.25 627.75 Td (61,964) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 232.60 627.75 Td (\(9,604) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.30 627.75 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 282.90 627.75 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 296.90 631.37 Td (\(1\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 332.90 627.75 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 346.90 631.37 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 387.60 627.75 Td (\(9,604) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.30 627.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.25 627.75 Td (103,996) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.90 627.75 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 501.90 631.37 Td (\(1\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 537.90 627.75 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 551.90 631.37 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 612.75 Td (Romania) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.25 612.75 Td (37,259) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.25 612.75 Td (2,454) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 282.90 612.75 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 296.90 616.37 Td (\(1\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 332.90 612.75 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 346.90 616.37 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.25 612.75 Td (2,454) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.25 612.75 Td (15,404) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 484.95 612.75 Td (\(84.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 501.65 612.75 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 534.95 612.75 Td (\(84.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 551.65 612.75 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 597.75 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 76.22 597.75 Td (Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 185.25 597.75 Td (4,586) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 228.60 597.75 Td (\(19,859) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.30 597.75 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 282.90 597.75 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 296.90 601.37 Td (\(1\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 332.90 597.75 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 346.90 601.37 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 383.60 597.75 Td (\(19,859) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.30 597.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.25 597.75 Td (8,604) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.90 597.75 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 501.90 601.37 Td (\(1\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 537.90 597.75 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 551.90 601.37 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 582.75 Td (Slovenia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 185.25 582.75 Td (5,331) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.25 582.75 Td (9,254) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 279.95 582.75 Td (\(42.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 296.65 582.75 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 329.95 582.75 Td (\(40.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.65 582.75 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.25 582.75 Td (9,254) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.25 582.75 Td (14,933) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 484.95 582.75 Td (\(38.0) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 501.65 582.75 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 534.95 582.75 Td (\(39.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 551.65 582.75 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 567.75 Td (Eliminations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 192.60 567.75 Td (\(16) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 203.30 567.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 242.60 567.75 Td (\(46) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.30 567.75 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 282.90 567.75 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 296.90 571.37 Td (\(1\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 332.90 567.75 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 346.90 571.37 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.60 567.75 Td (\(46) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.30 567.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.60 567.75 Td (\(1,073) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.30 567.75 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.90 567.75 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 501.90 571.37 Td (\(1\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 537.90 567.75 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 551.90 571.37 Td (\(1\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 552.73 Td (T) Tj ET Q q 0 0 0 rg BT 56.97 552.73 Td (otal ) Tj ET Q q 0 0 0 rg BT 71.49 552.73 Td (operating ) Tj ET Q q 0 0 0 rg BT 106.38 552.73 Td (segments) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 177.25 552.73 Td (126,326) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 235.25 552.73 Td (3,848) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 282.00 552.73 Td (NM ) Tj ET Q BT /F4 8.00 Tf ET BT /F4 5.20 Tf ET q 0 0 0 rg BT 296.89 556.36 Td (\(1\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 332.00 552.73 Td (NM ) Tj ET Q BT /F4 8.00 Tf ET BT /F4 5.20 Tf ET q 0 0 0 rg BT 346.89 556.36 Td (\(1\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 390.25 552.73 Td (3,848) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 432.25 552.73 Td (162,909) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 484.95 552.73 Td (\(97.6) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 501.65 552.73 Td (\)%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 534.95 552.73 Td (\(97.6) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 551.65 552.73 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 537.75 Td (Corporate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 178.60 537.75 Td (\(30,880) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 203.30 537.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 228.60 537.75 Td (\(52,253) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.30 537.75 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 282.65 537.75 Td (40.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 299.30 537.75 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 332.65 537.75 Td (39.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.25 537.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 383.60 537.75 Td (\(52,253) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.30 537.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.60 537.75 Td (\(42,282) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.30 537.75 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 484.95 537.75 Td (\(23.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 501.65 537.75 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 534.95 537.75 Td (\(23.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 551.65 537.75 Td (\)%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 522.73 Td (T) Tj ET Q q 0 0 0 rg BT 56.60 522.73 Td (otal ) Tj ET Q q 0 0 0 rg BT 71.49 522.73 Td (OIBDA) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 163.00 522.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 181.25 522.73 Td (95,446) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 213.00 522.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 228.60 522.73 Td (\(48,405) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 253.30 522.73 Td (\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 282.00 522.73 Td (NM ) Tj ET Q BT /F4 8.00 Tf ET BT /F4 5.20 Tf ET q 0 0 0 rg BT 296.89 526.36 Td (\(1\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 332.00 522.73 Td (NM ) Tj ET Q BT /F4 8.00 Tf ET BT /F4 5.20 Tf ET q 0 0 0 rg BT 346.89 526.36 Td (\(1\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 368.00 522.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 383.60 522.73 Td (\(48,405) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.30 522.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.00 522.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 432.25 522.73 Td (120,627) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 487.00 522.73 Td (NM ) Tj ET Q BT /F4 8.00 Tf ET BT /F4 5.20 Tf ET q 0 0 0 rg BT 501.89 526.36 Td (\(1\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 537.00 522.73 Td (NM ) Tj ET Q BT /F4 8.00 Tf ET BT /F4 5.20 Tf ET q 0 0 0 rg BT 551.89 526.36 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET BT /F1 7.00 Tf ET q 0 0 0 rg BT 67.50 504.60 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 85.50 504.60 Td (Number ) Tj ET Q q 0 0 0 rg BT 110.19 504.60 Td (is ) Tj ET Q q 0 0 0 rg BT 116.61 504.60 Td (not ) Tj ET Q q 0 0 0 rg BT 127.30 504.60 Td (meaningful.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 473.40 Td (Bulgaria) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 411.90 111.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 411.90 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 411.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 411.90 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 411.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 411.90 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 411.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 411.90 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 411.90 9.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 411.90 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 411.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 411.90 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 411.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 411.90 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 411.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 411.90 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 381.90 111.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 381.90 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 381.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 381.90 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 381.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 381.90 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 381.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 381.90 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 381.90 9.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 381.90 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 381.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 381.90 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 381.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 381.90 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 381.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 381.90 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 351.90 111.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 351.90 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 351.90 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 351.90 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 351.90 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 351.90 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 351.90 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 351.90 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 351.90 9.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 351.90 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 351.90 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 351.90 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 351.90 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 351.90 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 351.90 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 351.90 46.00 -21.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 441.9 m 206.5 441.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 206.5 441.9 m 210.5 441.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 441.9 m 256.5 441.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 441.9 m 260.5 441.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 441.9 m 306.5 441.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 441.9 m 310.5 441.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 441.9 m 356.5 441.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 441.9 m 365.5 441.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 441.9 m 411.5 441.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 441.9 m 415.5 441.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 441.9 m 461.5 441.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 441.9 m 465.5 441.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 441.9 m 511.5 441.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 441.9 m 515.5 441.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 441.9 m 561.5 441.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 426.9 m 306.5 426.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 426.9 m 310.5 426.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 426.9 m 356.5 426.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 426.9 m 511.5 426.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 426.9 m 515.5 426.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 426.9 m 561.5 426.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 411.9 m 206.5 411.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 411.9 m 256.5 411.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 411.9 m 306.5 411.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 411.9 m 411.5 411.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 411.9 m 461.5 411.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 411.9 m 511.5 411.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 411.9 m 206.5 411.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 411.9 m 256.5 411.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 411.9 m 356.5 411.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 411.9 m 461.5 411.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 411.9 m 561.5 411.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 366.9 m 461.5 366.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 366.9 m 206.5 366.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 366.9 m 256.5 366.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 366.9 m 411.5 366.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 366.9 m 461.5 366.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 330.9 m 256.5 330.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 330.9 m 206.5 330.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 316.9 m 206.5 316.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 314.9 m 206.5 314.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 330.9 m 256.5 330.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 316.9 m 256.5 316.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 314.9 m 256.5 314.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 330.9 m 411.5 330.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 316.9 m 411.5 316.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 314.9 m 411.5 314.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 330.9 m 461.5 330.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 316.9 m 461.5 316.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 314.9 m 461.5 314.9 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 446.15 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 281.05 446.13 Td (For the Year Ending December 31, \(US$ 000's\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 431.15 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 163.00 431.15 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 213.00 431.15 Td () Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 290.65 431.13 Td (Movement) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 495.65 431.13 Td (Movement) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 416.15 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 187.00 416.13 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 237.00 416.13 Td (2013) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 283.50 416.13 Td (% Act) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 334.55 416.13 Td (% Lfl) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 392.00 416.13 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.00 416.13 Td (2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.40 416.13 Td (% Act) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 537.75 416.13 Td (% Lfl) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 401.15 Td (T) Tj ET Q q 0 0 0 rg BT 56.61 401.15 Td (elevision ) Tj ET Q q 0 0 0 rg BT 87.21 401.15 Td (advertising) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 163.00 401.15 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.25 401.15 Td (61,464) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 213.00 401.15 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.25 401.15 Td (65,569) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 283.95 401.15 Td (\(6.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 296.65 401.15 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 333.95 401.15 Td (\(5.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.65 401.15 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.00 401.15 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.25 401.15 Td (65,569) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 401.15 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.25 401.15 Td (72,535) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 488.95 401.15 Td (\(9.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 501.65 401.15 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 534.95 401.15 Td (\(11.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 551.65 401.15 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 386.15 Td (Carriage fees and subscriptions) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.25 386.15 Td (19,808) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.25 386.15 Td (16,179) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 282.65 386.15 Td (22.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 299.30 386.15 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 332.65 386.15 Td (23.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.25 386.15 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.25 386.15 Td (16,179) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.25 386.15 Td (7,552) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 483.65 386.15 Td (114.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 504.30 386.15 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 533.65 386.15 Td (108.0) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.30 386.15 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 371.15 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 185.25 371.15 Td (5,806) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.25 371.15 Td (5,700) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 286.65 371.15 Td (1.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 299.30 371.15 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 336.65 371.15 Td (3.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.25 371.15 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.25 371.15 Td (5,700) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.25 371.15 Td (5,154) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.65 371.15 Td (10.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 504.30 371.15 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 541.65 371.15 Td (7.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.30 371.15 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 356.13 Td (Net ) Tj ET Q q 0 0 0 rg BT 65.99 356.13 Td (r) Tj ET Q q 0 0 0 rg BT 69.47 356.13 Td (evenues) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 181.25 356.13 Td (87,078) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 231.25 356.13 Td (87,448) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 283.95 356.13 Td (\(0.4) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 296.65 356.13 Td (\)%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 336.65 356.13 Td (0.2) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 349.25 356.13 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 386.25 356.13 Td (87,448) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.25 356.13 Td (85,241) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 491.65 356.13 Td (2.6) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 504.30 356.13 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 538.95 356.13 Td (\(0.1) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 551.65 356.13 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 343.15 Td (Costs ) Tj ET Q q 0 0 0 rg BT 75.97 343.15 Td (char) Tj ET Q q 0 0 0 rg BT 89.59 343.15 Td (ged ) Tj ET Q q 0 0 0 rg BT 107.32 343.15 Td (in ) Tj ET Q q 0 0 0 rg BT 119.72 343.15 Td (arriving ) Tj ET Q q 0 0 0 rg BT 151.23 343.15 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 335.15 Td (OIBDA) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.25 335.15 Td (77,711) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.25 335.15 Td (74,057) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 286.65 335.15 Td (4.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 299.30 335.15 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 336.65 335.15 Td (4.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.25 335.15 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.25 335.15 Td (74,057) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.25 335.15 Td (72,120) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 491.65 335.15 Td (2.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 504.30 335.15 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 541.65 335.15 Td (0.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.30 335.15 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 320.13 Td (OIBDA) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 163.00 320.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 185.25 320.13 Td (9,367) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 213.00 320.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 231.25 320.13 Td (13,391) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 279.95 320.13 Td (\(30.1) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 296.65 320.13 Td (\)%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 329.95 320.13 Td (\(26.2) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 346.65 320.13 Td (\)%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 368.00 320.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 386.25 320.13 Td (13,391) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.00 320.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.25 320.13 Td (13,121) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 491.65 320.13 Td (2.1) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 504.30 320.13 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 538.95 320.13 Td (\(1.7) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 551.65 320.13 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 300.80 Td (T) Tj ET Q q 0 0 0 rg BT 53.83 300.80 Td (elevision ) Tj ET Q q 0 0 0 rg BT 85.00 300.80 Td (advertising ) Tj ET Q q 0 0 0 rg BT 122.85 300.80 Td (spending ) Tj ET Q q 0 0 0 rg BT 154.03 300.80 Td (in ) Tj ET Q q 0 0 0 rg BT 162.54 300.80 Td (Bulgaria ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 192.38 300.80 Td (declined) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 219.48 300.80 Td ( ) Tj ET Q q 0 0 0 rg BT 221.78 300.80 Td (an ) Tj ET Q q 0 0 0 rg BT 231.62 300.80 Td (estimated ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 264.57 300.80 Td (3%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 275.23 300.80 Td ( ) Tj ET Q q 0 0 0 rg BT 277.53 300.80 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 286.04 300.80 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.04 300.80 Td ( ) Tj ET Q q 0 0 0 rg BT 304.34 300.80 Td (compared ) Tj ET Q q 0 0 0 rg BT 338.17 300.80 Td (to ) Tj ET Q q 0 0 0 rg BT 346.69 300.80 Td (the ) Tj ET Q q 0 0 0 rg BT 358.76 300.80 Td (prior ) Tj ET Q q 0 0 0 rg BT 376.60 300.80 Td (year) Tj ET Q q 0 0 0 rg BT 389.92 300.80 Td (. ) Tj ET Q q 0 0 0 rg BT 394.05 300.80 Td (The ) Tj ET Q q 0 0 0 rg BT 408.78 300.80 Td (Bulgaria ) Tj ET Q q 0 0 0 rg BT 438.63 300.80 Td (segment ) Tj ET Q q 0 0 0 rg BT 467.58 300.80 Td (reported ) Tj ET Q q 0 0 0 rg BT 496.53 300.80 Td (net ) Tj ET Q q 0 0 0 rg BT 508.59 300.80 Td (revenues ) Tj ET Q q 0 0 0 rg BT 539.32 300.80 Td (of ) Tj ET Q q 0 0 0 rg BT 548.27 300.80 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 291.20 Td (87.1 ) Tj ET Q q 0 0 0 rg BT 65.08 291.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 88.20 291.20 Td ( ) Tj ET Q q 0 0 0 rg BT 89.78 291.20 Td (for ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 100.69 291.20 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 116.69 291.20 Td ( ) Tj ET Q q 0 0 0 rg BT 118.27 291.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 151.40 291.20 Td (to ) Tj ET Q q 0 0 0 rg BT 159.20 291.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 175.01 291.20 Td (87.4 ) Tj ET Q q 0 0 0 rg BT 190.59 291.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 213.71 291.20 Td ( ) Tj ET Q q 0 0 0 rg BT 215.29 291.20 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 223.10 291.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 239.10 291.20 Td (, ) Tj ET Q q 0 0 0 rg BT 242.68 291.20 Td (broadly ) Tj ET Q q 0 0 0 rg BT 268.70 291.20 Td (flat ) Tj ET Q q 0 0 0 rg BT 280.94 291.20 Td (on ) Tj ET Q q 0 0 0 rg BT 290.53 291.20 Td (an ) Tj ET Q q 0 0 0 rg BT 299.66 291.20 Td (actual ) Tj ET Q q 0 0 0 rg BT 320.34 291.20 Td (basis ) Tj ET Q q 0 0 0 rg BT 337.92 291.20 Td (and ) Tj ET Q q 0 0 0 rg BT 351.06 291.20 Td (a ) Tj ET Q q 0 0 0 rg BT 356.19 291.20 Td (constant ) Tj ET Q q 0 0 0 rg BT 384.43 291.20 Td (currency ) Tj ET Q q 0 0 0 rg BT 414.00 291.20 Td (basis. ) Tj ET Q q 0 0 0 rg BT 433.47 291.20 Td (T) Tj ET Q q 0 0 0 rg BT 437.79 291.20 Td (elevision ) Tj ET Q q 0 0 0 rg BT 468.26 291.20 Td (advertising ) Tj ET Q q 0 0 0 rg BT 505.39 291.20 Td (revenues ) Tj ET Q q 0 0 0 rg BT 535.40 291.20 Td (declined ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 281.60 Td (due ) Tj ET Q q 0 0 0 rg BT 62.89 281.60 Td (to ) Tj ET Q q 0 0 0 rg BT 70.95 281.60 Td (heavy ) Tj ET Q q 0 0 0 rg BT 91.89 281.60 Td (competition ) Tj ET Q q 0 0 0 rg BT 131.94 281.60 Td (for ) Tj ET Q q 0 0 0 rg BT 143.11 281.60 Td (market ) Tj ET Q q 0 0 0 rg BT 167.16 281.60 Td (share, ) Tj ET Q q 0 0 0 rg BT 187.87 281.60 Td (which ) Tj ET Q q 0 0 0 rg BT 209.26 281.60 Td (resulted ) Tj ET Q q 0 0 0 rg BT 236.42 281.60 Td (in ) Tj ET Q q 0 0 0 rg BT 244.48 281.60 Td (sustained ) Tj ET Q q 0 0 0 rg BT 276.10 281.60 Td (downward ) Tj ET Q q 0 0 0 rg BT 311.70 281.60 Td (pressure ) Tj ET Q q 0 0 0 rg BT 340.20 281.60 Td (on ) Tj ET Q q 0 0 0 rg BT 350.04 281.60 Td (our ) Tj ET Q q 0 0 0 rg BT 362.54 281.60 Td (average ) Tj ET Q q 0 0 0 rg BT 389.24 281.60 Td (prices. ) Tj ET Q q 0 0 0 rg BT 412.05 281.60 Td (The ) Tj ET Q q 0 0 0 rg BT 426.32 281.60 Td (decrease ) Tj ET Q q 0 0 0 rg BT 455.69 281.60 Td (in ) Tj ET Q q 0 0 0 rg BT 463.75 281.60 Td (television ) Tj ET Q q 0 0 0 rg BT 496.70 281.60 Td (advertising ) Tj ET Q q 0 0 0 rg BT 534.08 281.60 Td (revenues ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 272.00 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 72.51 272.00 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 88.51 272.00 Td ( ) Tj ET Q q 0 0 0 rg BT 90.63 272.00 Td (was ) Tj ET Q q 0 0 0 rg BT 105.19 272.00 Td (of) Tj ET Q q 0 0 0 rg BT 111.71 272.00 Td (fset ) Tj ET Q q 0 0 0 rg BT 125.38 272.00 Td (by ) Tj ET Q q 0 0 0 rg BT 135.50 272.00 Td (an ) Tj ET Q q 0 0 0 rg BT 145.18 272.00 Td (increase ) Tj ET Q q 0 0 0 rg BT 173.50 272.00 Td (in ) Tj ET Q q 0 0 0 rg BT 181.84 272.00 Td (carriage ) Tj ET Q q 0 0 0 rg BT 209.72 272.00 Td (fees ) Tj ET Q q 0 0 0 rg BT 224.72 272.00 Td (and ) Tj ET Q q 0 0 0 rg BT 238.39 272.00 Td (subscription ) Tj ET Q q 0 0 0 rg BT 279.62 272.00 Td (revenues ) Tj ET Q q 0 0 0 rg BT 310.17 272.00 Td (from ) Tj ET Q q 0 0 0 rg BT 327.84 272.00 Td (cable, ) Tj ET Q q 0 0 0 rg BT 348.84 272.00 Td (satellite ) Tj ET Q q 0 0 0 rg BT 375.84 272.00 Td (and ) Tj ET Q q 0 0 0 rg BT 389.51 272.00 Td (Internet ) Tj ET Q q 0 0 0 rg BT 416.51 272.00 Td (Protocol ) Tj ET Q q 0 0 0 rg BT 445.74 272.00 Td (television ) Tj ET Q q 0 0 0 rg BT 478.96 272.00 Td (\("IPTV"\) ) Tj ET Q q 0 0 0 rg BT 510.72 272.00 Td (operators ) Tj ET Q q 0 0 0 rg BT 542.61 272.00 Td (due ) Tj ET Q q 0 0 0 rg BT 556.28 272.00 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 262.40 Td (increases ) Tj ET Q q 0 0 0 rg BT 80.53 262.40 Td (in ) Tj ET Q q 0 0 0 rg BT 88.46 262.40 Td (the ) Tj ET Q q 0 0 0 rg BT 99.94 262.40 Td (number ) Tj ET Q q 0 0 0 rg BT 126.09 262.40 Td (of ) Tj ET Q q 0 0 0 rg BT 134.46 262.40 Td (subscribers ) Tj ET Q q 0 0 0 rg BT 172.17 262.40 Td (reported ) Tj ET Q q 0 0 0 rg BT 200.53 262.40 Td (by ) Tj ET Q q 0 0 0 rg BT 210.24 262.40 Td (the ) Tj ET Q q 0 0 0 rg BT 221.72 262.40 Td (operators ) Tj ET Q q 0 0 0 rg BT 253.20 262.40 Td (and ) Tj ET Q q 0 0 0 rg BT 266.46 262.40 Td (stronger ) Tj ET Q q 0 0 0 rg BT 294.38 262.40 Td (prices. ) Tj ET Q q 0 0 0 rg BT 317.07 262.40 Td (T) Tj ET Q q 0 0 0 rg BT 321.40 262.40 Td (elevision ) Tj ET Q q 0 0 0 rg BT 351.99 262.40 Td (advertising ) Tj ET Q q 0 0 0 rg BT 389.25 262.40 Td (revenues ) Tj ET Q q 0 0 0 rg BT 419.39 262.40 Td (declined ) Tj ET Q q 0 0 0 rg BT 448.20 262.40 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.13 262.40 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.13 262.40 Td ( ) Tj ET Q q 0 0 0 rg BT 473.84 262.40 Td (compared ) Tj ET Q q 0 0 0 rg BT 507.09 262.40 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.02 262.40 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.02 262.40 Td ( ) Tj ET Q q 0 0 0 rg BT 532.73 262.40 Td (primarily ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 252.80 Td (due ) Tj ET Q q 0 0 0 rg BT 63.09 252.80 Td (to ) Tj ET Q q 0 0 0 rg BT 71.35 252.80 Td (the ) Tj ET Q q 0 0 0 rg BT 83.16 252.80 Td (impact ) Tj ET Q q 0 0 0 rg BT 106.96 252.80 Td (of ) Tj ET Q q 0 0 0 rg BT 115.66 252.80 Td (our ) Tj ET Q q 0 0 0 rg BT 128.36 252.80 Td (negotiations ) Tj ET Q q 0 0 0 rg BT 169.50 252.80 Td (with ) Tj ET Q q 0 0 0 rg BT 185.76 252.80 Td (a ) Tj ET Q q 0 0 0 rg BT 191.35 252.80 Td (major ) Tj ET Q q 0 0 0 rg BT 212.04 252.80 Td (satellite ) Tj ET Q q 0 0 0 rg BT 238.96 252.80 Td (operator ) Tj ET Q q 0 0 0 rg BT 267.65 252.80 Td (in ) Tj ET Q q 0 0 0 rg BT 275.91 252.80 Td (Bulgaria ) Tj ET Q q 0 0 0 rg BT 305.49 252.80 Td (regarding ) Tj ET Q q 0 0 0 rg BT 338.18 252.80 Td (our ) Tj ET Q q 0 0 0 rg BT 350.88 252.80 Td (carriage ) Tj ET Q q 0 0 0 rg BT 378.67 252.80 Td (fees ) Tj ET Q q 0 0 0 rg BT 393.58 252.80 Td (during ) Tj ET Q q 0 0 0 rg BT 416.51 252.80 Td (the ) Tj ET Q q 0 0 0 rg BT 428.32 252.80 Td (first ) Tj ET Q q 0 0 0 rg BT 443.24 252.80 Td (three ) Tj ET Q q 0 0 0 rg BT 461.26 252.80 Td (months ) Tj ET Q q 0 0 0 rg BT 486.86 252.80 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.56 252.80 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.56 252.80 Td (, ) Tj ET Q q 0 0 0 rg BT 515.59 252.80 Td (which ) Tj ET Q q 0 0 0 rg BT 537.18 252.80 Td (resulted ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 243.20 Td (in ) Tj ET Q q 0 0 0 rg BT 58.50 243.20 Td (lower ) Tj ET Q q 0 0 0 rg BT 79.49 243.20 Td (coverage ) Tj ET Q q 0 0 0 rg BT 111.14 243.20 Td (and ) Tj ET Q q 0 0 0 rg BT 125.47 243.20 Td (audience ) Tj ET Q q 0 0 0 rg BT 156.67 243.20 Td (shares ) Tj ET Q q 0 0 0 rg BT 179.44 243.20 Td (when ) Tj ET Q q 0 0 0 rg BT 199.55 243.20 Td (transmission ) Tj ET Q q 0 0 0 rg BT 242.77 243.20 Td (of ) Tj ET Q q 0 0 0 rg BT 252.22 243.20 Td (our ) Tj ET Q q 0 0 0 rg BT 265.66 243.20 Td (channels ) Tj ET Q q 0 0 0 rg BT 296.42 243.20 Td (was ) Tj ET Q q 0 0 0 rg BT 311.64 243.20 Td (suspended ) Tj ET Q q 0 0 0 rg BT 347.75 243.20 Td (during ) Tj ET Q q 0 0 0 rg BT 371.42 243.20 Td (these ) Tj ET Q q 0 0 0 rg BT 390.63 243.20 Td (negotiations. ) Tj ET Q q 0 0 0 rg BT 434.52 243.20 Td (Following ) Tj ET Q q 0 0 0 rg BT 470.19 243.20 Td (the ) Tj ET Q q 0 0 0 rg BT 482.74 243.20 Td (successful ) Tj ET Q q 0 0 0 rg BT 518.40 243.20 Td (conclusion ) Tj ET Q q 0 0 0 rg BT 555.84 243.20 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 233.60 Td (negotiations ) Tj ET Q q 0 0 0 rg BT 90.48 233.60 Td (with ) Tj ET Q q 0 0 0 rg BT 106.59 233.60 Td (a ) Tj ET Q q 0 0 0 rg BT 112.02 233.60 Td (majority ) Tj ET Q q 0 0 0 rg BT 141.00 233.60 Td (of ) Tj ET Q q 0 0 0 rg BT 149.54 233.60 Td (the ) Tj ET Q q 0 0 0 rg BT 161.20 233.60 Td (cable, ) Tj ET Q q 0 0 0 rg BT 181.95 233.60 Td (satellite ) Tj ET Q q 0 0 0 rg BT 208.71 233.60 Td (and ) Tj ET Q q 0 0 0 rg BT 222.14 233.60 Td (IPTV) Tj ET Q q 0 0 0 rg BT 239.77 233.60 Td ( ) Tj ET Q q 0 0 0 rg BT 241.65 233.60 Td (operators ) Tj ET Q q 0 0 0 rg BT 273.29 233.60 Td (in ) Tj ET Q q 0 0 0 rg BT 281.39 233.60 Td (Bulgaria, ) Tj ET Q q 0 0 0 rg BT 312.82 233.60 Td (our ) Tj ET Q q 0 0 0 rg BT 325.36 233.60 Td (carriage ) Tj ET Q q 0 0 0 rg BT 353.00 233.60 Td (fee ) Tj ET Q q 0 0 0 rg BT 364.64 233.60 Td (revenues ) Tj ET Q q 0 0 0 rg BT 394.95 233.60 Td (doubled ) Tj ET Q q 0 0 0 rg BT 422.60 233.60 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 445.37 233.60 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 461.37 233.60 Td ( ) Tj ET Q q 0 0 0 rg BT 463.25 233.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 496.66 233.60 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 504.77 233.60 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 520.77 233.60 Td (, ) Tj ET Q q 0 0 0 rg BT 524.64 233.60 Td (which ) Tj ET Q q 0 0 0 rg BT 546.07 233.60 Td (more ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 224.00 Td (than ) Tj ET Q q 0 0 0 rg BT 65.27 224.00 Td (of) Tj ET Q q 0 0 0 rg BT 71.79 224.00 Td (fset ) Tj ET Q q 0 0 0 rg BT 85.34 224.00 Td (the ) Tj ET Q q 0 0 0 rg BT 97.12 224.00 Td (decrease ) Tj ET Q q 0 0 0 rg BT 126.65 224.00 Td (in ) Tj ET Q q 0 0 0 rg BT 134.87 224.00 Td (television ) Tj ET Q q 0 0 0 rg BT 167.98 224.00 Td (advertising ) Tj ET Q q 0 0 0 rg BT 205.52 224.00 Td (revenue. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 208.40 Td (Costs ) Tj ET Q q 0 0 0 rg BT 69.21 208.40 Td (char) Tj ET Q q 0 0 0 rg BT 82.83 208.40 Td (ged ) Tj ET Q q 0 0 0 rg BT 96.31 208.40 Td (in ) Tj ET Q q 0 0 0 rg BT 104.46 208.40 Td (arriving ) Tj ET Q q 0 0 0 rg BT 131.71 208.40 Td (at ) Tj ET Q q 0 0 0 rg BT 139.42 208.40 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 164.31 208.40 Td ( ) Tj ET Q q 0 0 0 rg BT 166.23 208.40 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 174.38 208.40 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 190.38 208.40 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 192.31 208.40 Td (increased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 222.52 208.40 Td ( ) Tj ET Q q 0 0 0 rg BT 224.44 208.40 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 234.37 208.40 Td (5%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.04 208.40 Td ( ) Tj ET Q q 0 0 0 rg BT 246.96 208.40 Td (at ) Tj ET Q q 0 0 0 rg BT 254.66 208.40 Td (actual ) Tj ET Q q 0 0 0 rg BT 275.69 208.40 Td (and ) Tj ET Q q 0 0 0 rg BT 289.17 208.40 Td (constant ) Tj ET Q q 0 0 0 rg BT 317.76 208.40 Td (rates ) Tj ET Q q 0 0 0 rg BT 334.79 208.40 Td (compared ) Tj ET Q q 0 0 0 rg BT 368.25 208.40 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.40 208.40 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.40 208.40 Td (, ) Tj ET Q q 0 0 0 rg BT 396.33 208.40 Td (primarily ) Tj ET Q q 0 0 0 rg BT 428.03 208.40 Td (due ) Tj ET Q q 0 0 0 rg BT 441.51 208.40 Td (to ) Tj ET Q q 0 0 0 rg BT 449.66 208.40 Td (an ) Tj ET Q q 0 0 0 rg BT 459.13 208.40 Td (increase ) Tj ET Q q 0 0 0 rg BT 487.27 208.40 Td (in ) Tj ET Q q 0 0 0 rg BT 495.42 208.40 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 538.22 208.40 Td (char) Tj ET Q q 0 0 0 rg BT 551.84 208.40 Td (ges ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 198.80 Td (and ) Tj ET Q q 0 0 0 rg BT 62.76 198.80 Td (bad ) Tj ET Q q 0 0 0 rg BT 76.02 198.80 Td (debt ) Tj ET Q q 0 0 0 rg BT 91.50 198.80 Td (expense, ) Tj ET Q q 0 0 0 rg BT 120.97 198.80 Td (as ) Tj ET Q q 0 0 0 rg BT 129.34 198.80 Td (well ) Tj ET Q q 0 0 0 rg BT 144.83 198.80 Td (as ) Tj ET Q q 0 0 0 rg BT 153.20 198.80 Td (airing ) Tj ET Q q 0 0 0 rg BT 173.57 198.80 Td (two ) Tj ET Q q 0 0 0 rg BT 187.27 198.80 Td (new ) Tj ET Q q 0 0 0 rg BT 202.31 198.80 Td (and ) Tj ET Q q 0 0 0 rg BT 215.57 198.80 Td (more ) Tj ET Q q 0 0 0 rg BT 233.71 198.80 Td (expensive ) Tj ET Q q 0 0 0 rg BT 267.41 198.80 Td (formats ) Tj ET Q q 0 0 0 rg BT 293.56 198.80 Td (during ) Tj ET Q q 0 0 0 rg BT 316.15 198.80 Td (the ) Tj ET Q q 0 0 0 rg BT 327.63 198.80 Td (fall ) Tj ET Q q 0 0 0 rg BT 340.00 198.80 Td (season ) Tj ET Q q 0 0 0 rg BT 363.04 198.80 Td (to ) Tj ET Q q 0 0 0 rg BT 370.97 198.80 Td (counter ) Tj ET Q q 0 0 0 rg BT 396.66 198.80 Td (increased ) Tj ET Q q 0 0 0 rg BT 428.58 198.80 Td (competition ) Tj ET Q q 0 0 0 rg BT 468.50 198.80 Td (for ) Tj ET Q q 0 0 0 rg BT 479.53 198.80 Td (audience ) Tj ET Q q 0 0 0 rg BT 509.67 198.80 Td (share. ) Tj ET Q q 0 0 0 rg BT 530.13 198.80 Td (This ) Tj ET Q q 0 0 0 rg BT 546.06 198.80 Td (more ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 189.20 Td (than ) Tj ET Q q 0 0 0 rg BT 65.09 189.20 Td (of) Tj ET Q q 0 0 0 rg BT 71.61 189.20 Td (fset ) Tj ET Q q 0 0 0 rg BT 84.99 189.20 Td (a ) Tj ET Q q 0 0 0 rg BT 90.36 189.20 Td (decrease ) Tj ET Q q 0 0 0 rg BT 119.71 189.20 Td (in ) Tj ET Q q 0 0 0 rg BT 127.75 189.20 Td (transmission ) Tj ET Q q 0 0 0 rg BT 170.02 189.20 Td (costs ) Tj ET Q q 0 0 0 rg BT 187.84 189.20 Td (following ) Tj ET Q q 0 0 0 rg BT 220.77 189.20 Td (the ) Tj ET Q q 0 0 0 rg BT 232.37 189.20 Td (transition ) Tj ET Q q 0 0 0 rg BT 264.41 189.20 Td (from ) Tj ET Q q 0 0 0 rg BT 281.78 189.20 Td (analogue ) Tj ET Q q 0 0 0 rg BT 312.48 189.20 Td (transmission ) Tj ET Q q 0 0 0 rg BT 354.74 189.20 Td (to ) Tj ET Q q 0 0 0 rg BT 362.79 189.20 Td (digital ) Tj ET Q q 0 0 0 rg BT 385.05 189.20 Td (in ) Tj ET Q q 0 0 0 rg BT 393.09 189.20 Td (2013 ) Tj ET Q q 0 0 0 rg BT 410.92 189.20 Td (as ) Tj ET Q q 0 0 0 rg BT 419.40 189.20 Td (well ) Tj ET Q q 0 0 0 rg BT 435.00 189.20 Td (as ) Tj ET Q q 0 0 0 rg BT 443.48 189.20 Td (operating ) Tj ET Q q 0 0 0 rg BT 475.51 189.20 Td (fewer ) Tj ET Q q 0 0 0 rg BT 495.54 189.20 Td (channels. ) Tj ET Q q 0 0 0 rg BT 527.35 189.20 Td (Costs ) Tj ET Q q 0 0 0 rg BT 546.96 189.20 Td (were ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 179.60 Td (broadly ) Tj ET Q q 0 0 0 rg BT 75.91 179.60 Td (flat ) Tj ET Q q 0 0 0 rg BT 88.55 179.60 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 96.75 179.60 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 112.75 179.60 Td ( ) Tj ET Q q 0 0 0 rg BT 114.72 179.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 148.24 179.60 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 156.44 179.60 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 172.44 179.60 Td ( ) Tj ET Q q 0 0 0 rg BT 174.41 179.60 Td (on ) Tj ET Q q 0 0 0 rg BT 184.39 179.60 Td (a ) Tj ET Q q 0 0 0 rg BT 189.91 179.60 Td (constant ) Tj ET Q q 0 0 0 rg BT 218.55 179.60 Td (currency ) Tj ET Q q 0 0 0 rg BT 248.50 179.60 Td (basis ) Tj ET Q q 0 0 0 rg BT 266.48 179.60 Td (as ) Tj ET Q q 0 0 0 rg BT 275.12 179.60 Td (we ) Tj ET Q q 0 0 0 rg BT 286.42 179.60 Td (were ) Tj ET Q q 0 0 0 rg BT 303.94 179.60 Td (able ) Tj ET Q q 0 0 0 rg BT 319.24 179.60 Td (to ) Tj ET Q q 0 0 0 rg BT 327.44 179.60 Td (of) Tj ET Q q 0 0 0 rg BT 333.96 179.60 Td (fset ) Tj ET Q q 0 0 0 rg BT 347.49 179.60 Td (an ) Tj ET Q q 0 0 0 rg BT 357.01 179.60 Td (increase ) Tj ET Q q 0 0 0 rg BT 385.19 179.60 Td (in ) Tj ET Q q 0 0 0 rg BT 393.39 179.60 Td (content ) Tj ET Q q 0 0 0 rg BT 418.91 179.60 Td (costs, ) Tj ET Q q 0 0 0 rg BT 438.89 179.60 Td (in ) Tj ET Q q 0 0 0 rg BT 447.09 179.60 Td (response ) Tj ET Q q 0 0 0 rg BT 477.05 179.60 Td (to ) Tj ET Q q 0 0 0 rg BT 485.25 179.60 Td (increased ) Tj ET Q q 0 0 0 rg BT 517.43 179.60 Td (investment ) Tj ET Q q 0 0 0 rg BT 554.51 179.60 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 170.00 Td (competitors, ) Tj ET Q q 0 0 0 rg BT 91.27 170.00 Td (by ) Tj ET Q q 0 0 0 rg BT 101.27 170.00 Td (savings ) Tj ET Q q 0 0 0 rg BT 127.27 170.00 Td (in ) Tj ET Q q 0 0 0 rg BT 135.49 170.00 Td (other ) Tj ET Q q 0 0 0 rg BT 153.93 170.00 Td (costs.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 154.40 Td (Our ) Tj ET Q q 0 0 0 rg BT 63.94 154.40 Td (Bulgaria ) Tj ET Q q 0 0 0 rg BT 93.49 154.40 Td (segment ) Tj ET Q q 0 0 0 rg BT 122.15 154.40 Td (reported ) Tj ET Q q 0 0 0 rg BT 150.80 154.40 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 175.69 154.40 Td ( ) Tj ET Q q 0 0 0 rg BT 177.69 154.40 Td (of ) Tj ET Q q 0 0 0 rg BT 186.35 154.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 202.58 154.40 Td (9.4 ) Tj ET Q q 0 0 0 rg BT 214.57 154.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 237.69 154.40 Td ( ) Tj ET Q q 0 0 0 rg BT 239.69 154.40 Td (for ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 251.01 154.40 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.01 154.40 Td ( ) Tj ET Q q 0 0 0 rg BT 269.01 154.40 Td (compared ) Tj ET Q q 0 0 0 rg BT 302.55 154.40 Td (toUS$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 327.00 154.40 Td (13.4 ) Tj ET Q q 0 0 0 rg BT 343.00 154.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.11 154.40 Td ( ) Tj ET Q q 0 0 0 rg BT 368.11 154.40 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.33 154.40 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.33 154.40 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.33 154.40 Td (a ) Tj ET Q q 0 0 0 rg BT 401.88 154.40 Td (decrease) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.41 154.40 Td ( ) Tj ET Q q 0 0 0 rg BT 431.41 154.40 Td (of ) Tj ET Q q 0 0 0 rg BT 440.07 154.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.30 154.40 Td (4.0 ) Tj ET Q q 0 0 0 rg BT 468.30 154.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.41 154.40 Td (. ) Tj ET Q q 0 0 0 rg BT 495.41 154.40 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 520.30 154.40 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 522.30 154.40 Td (increased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 552.50 154.40 Td ( ) Tj ET Q q 0 0 0 rg BT 554.50 154.40 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 144.80 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.73 144.80 Td (0.3 ) Tj ET Q q 0 0 0 rg BT 77.73 144.80 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 100.84 144.80 Td ( ) Tj ET Q q 0 0 0 rg BT 102.84 144.80 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 111.06 144.80 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 127.06 144.80 Td ( ) Tj ET Q q 0 0 0 rg BT 129.06 144.80 Td (compared ) Tj ET Q q 0 0 0 rg BT 162.60 144.80 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 170.82 144.80 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 186.82 144.80 Td (.) 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BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 696.35 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 281.05 696.33 Td (For the Year Ending December 31, \(US$ 000's\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 681.35 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 163.00 681.35 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 213.00 681.35 Td () Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 290.65 681.33 Td (Movement) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 495.65 681.33 Td (Movement) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 666.35 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 187.00 666.33 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 237.00 666.33 Td (2013) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 283.50 666.33 Td (% Act) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 334.55 666.33 Td (% Lfl) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 392.00 666.33 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.00 666.33 Td (2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.40 666.33 Td (% Act) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 537.75 666.33 Td (% Lfl) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 653.35 Td (T) Tj ET Q q 0 0 0 rg BT 56.61 653.35 Td (elevision ) Tj ET Q q 0 0 0 rg BT 87.21 653.35 Td (advertising) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 163.00 653.35 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.25 653.35 Td (56,260) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 213.00 653.35 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.25 653.35 Td (54,672) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 286.65 653.35 Td (2.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 299.30 653.35 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 336.65 653.35 Td (4.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.25 653.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.00 653.35 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.25 653.35 Td (54,672) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 653.35 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.25 653.35 Td (52,769) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 491.65 653.35 Td (3.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 504.30 653.35 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 541.65 653.35 Td (1.8) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.30 653.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 638.35 Td (Carriage fees and subscriptions) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 185.25 638.35 Td (1,993) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.25 638.35 Td (1,725) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 282.65 638.35 Td (15.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 299.30 638.35 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 332.65 638.35 Td (16.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.25 638.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.25 638.35 Td (1,725) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.25 638.35 Td (1,054) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.65 638.35 Td (63.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 504.30 638.35 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 537.65 638.35 Td (60.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.30 638.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 623.35 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 185.25 623.35 Td (3,773) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.25 623.35 Td (5,467) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 279.95 623.35 Td (\(31.0) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 296.65 623.35 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 329.95 623.35 Td (\(30.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.65 623.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.25 623.35 Td (5,467) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.25 623.35 Td (5,476) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 488.95 623.35 Td (\(0.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 501.65 623.35 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 538.95 623.35 Td (\(2.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 551.65 623.35 Td (\)%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 608.33 Td (Net ) Tj ET Q q 0 0 0 rg BT 65.99 608.33 Td (r) Tj ET Q q 0 0 0 rg BT 69.47 608.33 Td (evenues) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 181.25 608.33 Td (62,026) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 231.25 608.33 Td (61,864) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 286.65 608.33 Td (0.3) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 299.30 608.33 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 336.65 608.33 Td (1.5) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 349.25 608.33 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 386.25 608.33 Td (61,864) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.25 608.33 Td (59,299) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 491.65 608.33 Td (4.3) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 504.30 608.33 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 541.65 608.33 Td (2.5) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 554.30 608.33 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 595.35 Td (Costs ) Tj ET Q q 0 0 0 rg BT 75.97 595.35 Td (char) Tj ET Q q 0 0 0 rg BT 89.59 595.35 Td (ged ) Tj ET Q q 0 0 0 rg BT 107.32 595.35 Td (in ) Tj ET Q q 0 0 0 rg BT 119.72 595.35 Td (arriving ) Tj ET Q q 0 0 0 rg BT 151.23 595.35 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 587.35 Td (OIBDA) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.25 587.35 Td (54,191) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.25 587.35 Td (53,606) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 286.65 587.35 Td (1.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 299.30 587.35 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 336.65 587.35 Td (2.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.25 587.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.25 587.35 Td (53,606) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.25 587.35 Td (51,375) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 491.65 587.35 Td (4.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 504.30 587.35 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 541.65 587.35 Td (2.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.30 587.35 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 572.33 Td (OIBDA) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 163.00 572.33 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 185.25 572.33 Td (7,835) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 213.00 572.33 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 235.25 572.33 Td (8,258) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 283.95 572.33 Td (\(5.1) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 296.65 572.33 Td (\)%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 333.95 572.33 Td (\(2.7) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 346.65 572.33 Td (\)%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 368.00 572.33 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 390.25 572.33 Td (8,258) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.00 572.33 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.25 572.33 Td (7,924) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 491.65 572.33 Td (4.2) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 504.30 572.33 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 541.65 572.33 Td (4.8) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 554.30 572.33 Td (%) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 553.00 Td (T) Tj ET Q q 0 0 0 rg BT 53.83 553.00 Td (elevision ) Tj ET Q q 0 0 0 rg BT 84.53 553.00 Td (advertising ) Tj ET Q q 0 0 0 rg BT 121.89 553.00 Td (spending ) Tj ET Q q 0 0 0 rg BT 152.60 553.00 Td (in ) Tj ET Q q 0 0 0 rg BT 160.64 553.00 Td (Croatia ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 186.00 553.00 Td (increased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 216.20 553.00 Td ( ) Tj ET Q q 0 0 0 rg BT 218.02 553.00 Td (an ) Tj ET Q q 0 0 0 rg BT 227.39 553.00 Td (estimated ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 259.86 553.00 Td (4%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 270.53 553.00 Td ( ) Tj ET Q q 0 0 0 rg BT 272.34 553.00 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.38 553.00 Td (2014) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 0 0 rg BT 296.38 553.00 Td ( ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 298.20 553.00 Td (compared ) Tj ET Q q 0 0 0 rg BT 331.56 553.00 Td (to ) Tj ET Q q 0 0 0 rg BT 339.60 553.00 Td (the ) Tj ET Q q 0 0 0 rg BT 351.19 553.00 Td (prior ) Tj ET Q q 0 0 0 rg BT 368.56 553.00 Td (year) Tj ET Q q 0 0 0 rg BT 381.88 553.00 Td (. ) Tj ET Q q 0 0 0 rg BT 385.57 553.00 Td (The ) Tj ET Q q 0 0 0 rg BT 399.82 553.00 Td (Croatia ) Tj ET Q q 0 0 0 rg BT 425.19 553.00 Td (segment ) Tj ET Q q 0 0 0 rg BT 453.66 553.00 Td (reported ) Tj ET Q q 0 0 0 rg BT 482.13 553.00 Td (net ) Tj ET Q q 0 0 0 rg BT 493.73 553.00 Td (revenues ) Tj ET Q q 0 0 0 rg BT 523.97 553.00 Td (of ) Tj ET Q q 0 0 0 rg BT 532.45 553.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 548.50 553.00 Td (62.0 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 543.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 72.61 543.40 Td ( ) Tj ET Q q 0 0 0 rg BT 74.07 543.40 Td (for ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 84.85 543.40 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 100.85 543.40 Td ( ) Tj ET Q q 0 0 0 rg BT 102.30 543.40 Td (compared ) Tj ET Q q 0 0 0 rg BT 135.29 543.40 Td (to ) Tj ET Q q 0 0 0 rg BT 142.97 543.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 158.65 543.40 Td (61.9 ) Tj ET Q q 0 0 0 rg BT 174.10 543.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 197.21 543.40 Td ( ) Tj ET Q q 0 0 0 rg BT 198.67 543.40 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 206.34 543.40 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 222.34 543.40 Td (, ) Tj ET Q q 0 0 0 rg BT 225.80 543.40 Td (broadly ) Tj ET Q q 0 0 0 rg BT 251.69 543.40 Td (flat ) Tj ET Q q 0 0 0 rg BT 263.80 543.40 Td (on ) Tj ET Q q 0 0 0 rg BT 273.25 543.40 Td (an ) Tj ET Q q 0 0 0 rg BT 282.26 543.40 Td (actual ) Tj ET Q q 0 0 0 rg BT 302.81 543.40 Td (basis, ) Tj ET Q q 0 0 0 rg BT 322.26 543.40 Td (but ) Tj ET Q q 0 0 0 rg BT 333.94 543.40 Td (an ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 342.94 543.40 Td (increase) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 369.14 543.40 Td ( ) Tj ET Q q 0 0 0 rg BT 370.60 543.40 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 378.71 543.40 Td (2%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.38 543.40 Td ( ) Tj ET Q q 0 0 0 rg BT 390.83 543.40 Td (on ) Tj ET Q q 0 0 0 rg BT 400.29 543.40 Td (a ) Tj ET Q q 0 0 0 rg BT 405.29 543.40 Td (constant ) Tj ET Q q 0 0 0 rg BT 433.40 543.40 Td (currency ) Tj ET Q q 0 0 0 rg BT 462.84 543.40 Td (basis. ) Tj ET Q q 0 0 0 rg BT 482.18 543.40 Td (The ) Tj ET Q q 0 0 0 rg BT 496.07 543.40 Td (increase ) Tj ET Q q 0 0 0 rg BT 523.73 543.40 Td (in ) Tj ET Q q 0 0 0 rg BT 531.41 543.40 Td (television ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 533.80 Td (advertising ) Tj ET Q q 0 0 0 rg BT 86.86 533.80 Td (revenues ) Tj ET Q q 0 0 0 rg BT 117.11 533.80 Td (at ) Tj ET Q q 0 0 0 rg BT 124.70 533.80 Td (constant ) Tj ET Q q 0 0 0 rg BT 153.18 533.80 Td (rates ) Tj ET Q q 0 0 0 rg BT 170.10 533.80 Td (was ) Tj ET Q q 0 0 0 rg BT 184.36 533.80 Td (driven ) Tj ET Q q 0 0 0 rg BT 206.61 533.80 Td (by ) Tj ET Q q 0 0 0 rg BT 216.43 533.80 Td (an ) Tj ET Q q 0 0 0 rg BT 225.80 533.80 Td (increase ) Tj ET Q q 0 0 0 rg BT 253.82 533.80 Td (in ) Tj ET Q q 0 0 0 rg BT 261.86 533.80 Td (GRPs ) Tj ET Q q 0 0 0 rg BT 282.35 533.80 Td (sold ) Tj ET Q q 0 0 0 rg BT 297.50 533.80 Td (as ) Tj ET Q q 0 0 0 rg BT 305.99 533.80 Td (well ) Tj ET Q q 0 0 0 rg BT 321.58 533.80 Td (as ) Tj ET Q q 0 0 0 rg BT 330.06 533.80 Td (an ) Tj ET Q q 0 0 0 rg BT 339.43 533.80 Td (increase ) Tj ET Q q 0 0 0 rg BT 367.45 533.80 Td (in ) Tj ET Q q 0 0 0 rg BT 375.49 533.80 Td (average ) Tj ET Q q 0 0 0 rg BT 402.17 533.80 Td (prices ) Tj ET Q q 0 0 0 rg BT 423.09 533.80 Td (compared ) Tj ET Q q 0 0 0 rg BT 456.45 533.80 Td (to ) Tj ET Q q 0 0 0 rg BT 464.49 533.80 Td (last ) Tj ET Q q 0 0 0 rg BT 477.41 533.80 Td (year) Tj ET Q q 0 0 0 rg BT 490.74 533.80 Td (. ) Tj ET Q q 0 0 0 rg BT 494.42 533.80 Td (The ) Tj ET Q q 0 0 0 rg BT 508.68 533.80 Td (decrease ) Tj ET Q q 0 0 0 rg BT 538.03 533.80 Td (in ) Tj ET Q q 0 0 0 rg BT 546.07 533.80 Td (other ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 524.20 Td (revenues ) Tj ET Q q 0 0 0 rg BT 79.99 524.20 Td (during ) Tj ET Q q 0 0 0 rg BT 102.94 524.20 Td (2014 ) Tj ET Q q 0 0 0 rg BT 121.00 524.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 154.59 524.20 Td (to ) Tj ET Q q 0 0 0 rg BT 162.88 524.20 Td (2013 ) Tj ET Q q 0 0 0 rg BT 180.94 524.20 Td (was ) Tj ET Q q 0 0 0 rg BT 195.44 524.20 Td (due ) Tj ET Q q 0 0 0 rg BT 209.05 524.20 Td (primarily ) Tj ET Q q 0 0 0 rg BT 240.88 524.20 Td (to ) Tj ET Q q 0 0 0 rg BT 249.16 524.20 Td (a ) Tj ET Q q 0 0 0 rg BT 254.77 524.20 Td (decrease ) Tj ET Q q 0 0 0 rg BT 284.36 524.20 Td (in ) Tj ET Q q 0 0 0 rg BT 292.64 524.20 Td (revenues ) Tj ET Q q 0 0 0 rg BT 323.13 524.20 Td (from ) Tj ET Q q 0 0 0 rg BT 340.74 524.20 Td (the ) Tj ET Q q 0 0 0 rg BT 352.57 524.20 Td (sale ) Tj ET Q q 0 0 0 rg BT 367.07 524.20 Td (of ) Tj ET Q q 0 0 0 rg BT 375.79 524.20 Td (original ) Tj ET Q q 0 0 0 rg BT 402.74 524.20 Td (programming. ) Tj ET Q q 0 0 0 rg BT 450.19 524.20 Td (The ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.69 524.20 Td (3%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.36 524.20 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.42 524.20 Td (increase) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 503.62 524.20 Td ( ) Tj ET Q q 0 0 0 rg BT 505.68 524.20 Td (in ) Tj ET Q q 0 0 0 rg BT 513.96 524.20 Td (net ) Tj ET Q q 0 0 0 rg BT 525.79 524.20 Td (revenues ) Tj ET Q q 0 0 0 rg BT 556.28 524.20 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 514.60 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.50 514.60 Td ( ) Tj ET Q q 0 0 0 rg BT 67.31 514.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 100.66 514.60 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 108.69 514.60 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 124.69 514.60 Td ( ) Tj ET Q q 0 0 0 rg BT 126.50 514.60 Td (on ) Tj ET Q q 0 0 0 rg BT 136.30 514.60 Td (a ) Tj ET Q q 0 0 0 rg BT 141.66 514.60 Td (constant ) Tj ET Q q 0 0 0 rg BT 170.13 514.60 Td (currency ) Tj ET Q q 0 0 0 rg BT 199.92 514.60 Td (basis ) Tj ET Q q 0 0 0 rg BT 217.73 514.60 Td (resulted ) Tj ET Q q 0 0 0 rg BT 244.86 514.60 Td (from ) Tj ET Q q 0 0 0 rg BT 262.22 514.60 Td (an ) Tj ET Q q 0 0 0 rg BT 271.58 514.60 Td (increase ) Tj ET Q q 0 0 0 rg BT 299.59 514.60 Td (in ) Tj ET Q q 0 0 0 rg BT 307.63 514.60 Td (television ) Tj ET Q q 0 0 0 rg BT 340.54 514.60 Td (advertising ) Tj ET Q q 0 0 0 rg BT 377.89 514.60 Td (revenue ) Tj ET Q q 0 0 0 rg BT 405.02 514.60 Td (and ) Tj ET Q q 0 0 0 rg BT 418.38 514.60 Td (reflected ) Tj ET Q q 0 0 0 rg BT 448.16 514.60 Td (an ) Tj ET Q q 0 0 0 rg BT 457.52 514.60 Td (increase ) Tj ET Q q 0 0 0 rg BT 485.54 514.60 Td (in ) Tj ET Q q 0 0 0 rg BT 493.57 514.60 Td (our ) Tj ET Q q 0 0 0 rg BT 506.04 514.60 Td (advertising ) Tj ET Q q 0 0 0 rg BT 543.39 514.60 Td (prices ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 505.00 Td (that ) Tj ET Q q 0 0 0 rg BT 63.50 505.00 Td (more ) Tj ET Q q 0 0 0 rg BT 81.93 505.00 Td (than ) Tj ET Q q 0 0 0 rg BT 97.71 505.00 Td (of) Tj ET Q q 0 0 0 rg BT 104.23 505.00 Td (fset ) Tj ET Q q 0 0 0 rg BT 117.78 505.00 Td (a ) Tj ET Q q 0 0 0 rg BT 123.33 505.00 Td (decrease ) Tj ET Q q 0 0 0 rg BT 152.86 505.00 Td (in ) Tj ET Q q 0 0 0 rg BT 161.08 505.00 Td (GRPs ) Tj ET Q q 0 0 0 rg BT 181.76 505.00 Td (sold ) Tj ET Q q 0 0 0 rg BT 197.09 505.00 Td (during ) Tj ET Q q 0 0 0 rg BT 219.98 505.00 Td (the ) Tj ET Q q 0 0 0 rg BT 231.75 505.00 Td (year) Tj ET Q q 0 0 0 rg BT 245.08 505.00 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 489.40 Td (Costs ) Tj ET Q q 0 0 0 rg BT 69.37 489.40 Td (char) Tj ET Q q 0 0 0 rg BT 82.99 489.40 Td (ged ) Tj ET Q q 0 0 0 rg BT 96.62 489.40 Td (in ) Tj ET Q q 0 0 0 rg BT 104.92 489.40 Td (arriving ) Tj ET Q q 0 0 0 rg BT 132.32 489.40 Td (at ) Tj ET Q q 0 0 0 rg BT 140.18 489.40 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 165.07 489.40 Td ( ) Tj ET Q q 0 0 0 rg BT 167.15 489.40 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 175.45 489.40 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 191.45 489.40 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 193.53 489.40 Td (increased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 223.73 489.40 Td ( ) Tj ET Q q 0 0 0 rg BT 225.81 489.40 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.89 489.40 Td (1%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 246.56 489.40 Td ( ) Tj ET Q q 0 0 0 rg BT 248.64 489.40 Td (compared ) Tj ET Q q 0 0 0 rg BT 282.26 489.40 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 290.56 489.40 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.56 489.40 Td (. ) Tj ET Q q 0 0 0 rg BT 310.64 489.40 Td (On ) Tj ET Q q 0 0 0 rg BT 322.50 489.40 Td (a ) Tj ET Q q 0 0 0 rg BT 328.13 489.40 Td (constant ) Tj ET Q q 0 0 0 rg BT 356.87 489.40 Td (currency ) Tj ET Q q 0 0 0 rg BT 386.93 489.40 Td (basis ) Tj ET Q q 0 0 0 rg BT 405.01 489.40 Td (costs ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.09 489.40 Td (increased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.29 489.40 Td ( ) Tj ET Q q 0 0 0 rg BT 455.37 489.40 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.45 489.40 Td (2%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.12 489.40 Td ( ) Tj ET Q q 0 0 0 rg BT 478.20 489.40 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.50 489.40 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.50 489.40 Td ( ) Tj ET Q q 0 0 0 rg BT 504.58 489.40 Td (compared ) Tj ET Q q 0 0 0 rg BT 538.20 489.40 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.50 489.40 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 562.50 489.40 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 479.80 Td (driven ) Tj ET Q q 0 0 0 rg BT 72.19 479.80 Td (by ) Tj ET Q q 0 0 0 rg BT 82.45 479.80 Td (an ) Tj ET Q q 0 0 0 rg BT 92.25 479.80 Td (increase ) Tj ET Q q 0 0 0 rg BT 120.71 479.80 Td (in ) Tj ET Q q 0 0 0 rg BT 129.18 479.80 Td (marketing ) Tj ET Q q 0 0 0 rg BT 163.87 479.80 Td (costs ) Tj ET Q q 0 0 0 rg BT 182.13 479.80 Td (related ) Tj ET Q q 0 0 0 rg BT 206.14 479.80 Td (to ) Tj ET Q q 0 0 0 rg BT 214.62 479.80 Td (the ) Tj ET Q q 0 0 0 rg BT 226.64 479.80 Td (rebranding ) Tj ET Q q 0 0 0 rg BT 263.55 479.80 Td (of ) Tj ET Q q 0 0 0 rg BT 272.47 479.80 Td (a ) Tj ET Q q 0 0 0 rg BT 278.27 479.80 Td (niche ) Tj ET Q q 0 0 0 rg BT 297.85 479.80 Td (channel ) Tj ET Q q 0 0 0 rg BT 324.98 479.80 Td (and ) Tj ET Q q 0 0 0 rg BT 338.79 479.80 Td (an ) Tj ET Q q 0 0 0 rg BT 348.59 479.80 Td (increase ) Tj ET Q q 0 0 0 rg BT 377.05 479.80 Td (in ) Tj ET Q q 0 0 0 rg BT 385.52 479.80 Td (staf) Tj ET Q q 0 0 0 rg BT 396.93 479.80 Td (f-related ) Tj ET Q q 0 0 0 rg BT 426.27 479.80 Td (costs, ) Tj ET Q q 0 0 0 rg BT 446.53 479.80 Td (which ) Tj ET Q q 0 0 0 rg BT 468.33 479.80 Td (more ) Tj ET Q q 0 0 0 rg BT 487.02 479.80 Td (than ) Tj ET Q q 0 0 0 rg BT 503.05 479.80 Td (of) Tj ET Q q 0 0 0 rg BT 509.57 479.80 Td (fset ) Tj ET Q q 0 0 0 rg BT 523.38 479.80 Td (decreases ) Tj ET Q q 0 0 0 rg BT 556.27 479.80 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 470.20 Td (content ) Tj ET Q q 0 0 0 rg BT 75.11 470.20 Td (and ) Tj ET Q q 0 0 0 rg BT 88.72 470.20 Td (transmission ) Tj ET Q q 0 0 0 rg BT 131.23 470.20 Td (costs. ) Tj ET Q q 0 0 0 rg BT 151.14 470.20 Td (The ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 165.64 470.20 Td (2%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 176.31 470.20 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 178.37 470.20 Td (increase) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 204.57 470.20 Td ( ) Tj ET Q q 0 0 0 rg BT 206.64 470.20 Td (in ) Tj ET Q q 0 0 0 rg BT 214.92 470.20 Td (costs ) Tj ET Q q 0 0 0 rg BT 232.98 470.20 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.27 470.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 257.27 470.20 Td ( ) Tj ET Q q 0 0 0 rg BT 259.33 470.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 292.93 470.20 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.22 470.20 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 317.22 470.20 Td ( ) Tj ET Q q 0 0 0 rg BT 319.28 470.20 Td (on ) Tj ET Q q 0 0 0 rg BT 329.34 470.20 Td (a ) Tj ET Q q 0 0 0 rg BT 334.96 470.20 Td (constant ) Tj ET Q q 0 0 0 rg BT 363.68 470.20 Td (currency ) Tj ET Q q 0 0 0 rg BT 393.72 470.20 Td (basis ) Tj ET Q q 0 0 0 rg BT 411.78 470.20 Td (was ) Tj ET Q q 0 0 0 rg BT 426.29 470.20 Td (due ) Tj ET Q q 0 0 0 rg BT 439.90 470.20 Td (primarily ) Tj ET Q q 0 0 0 rg BT 471.73 470.20 Td (to ) Tj ET Q q 0 0 0 rg BT 480.02 470.20 Td (programming ) Tj ET Q q 0 0 0 rg BT 525.63 470.20 Td (impairment ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 460.60 Td (related ) Tj ET Q q 0 0 0 rg BT 73.26 460.60 Td (to ) Tj ET Q q 0 0 0 rg BT 81.48 460.60 Td (a ) Tj ET Q q 0 0 0 rg BT 87.04 460.60 Td (poor ) Tj ET Q q 0 0 0 rg BT 103.70 460.60 Td (performing ) Tj ET Q q 0 0 0 rg BT 141.69 460.60 Td (life-of-series ) Tj ET Q q 0 0 0 rg BT 184.55 460.60 Td (product.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 445.00 Td (Our ) Tj ET Q q 0 0 0 rg BT 64.33 445.00 Td (Croatia ) Tj ET Q q 0 0 0 rg BT 90.27 445.00 Td (segment ) Tj ET Q q 0 0 0 rg BT 119.32 445.00 Td (generated ) Tj ET Q q 0 0 0 rg BT 152.80 445.00 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 177.70 445.00 Td ( ) Tj ET Q q 0 0 0 rg BT 180.09 445.00 Td (of ) Tj ET Q q 0 0 0 rg BT 189.14 445.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 205.76 445.00 Td (7.8 ) Tj ET Q q 0 0 0 rg BT 218.15 445.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.27 445.00 Td ( ) Tj ET Q q 0 0 0 rg BT 243.66 445.00 Td (for ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 255.38 445.00 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.38 445.00 Td ( ) Tj ET Q q 0 0 0 rg BT 273.77 445.00 Td (compared ) Tj ET Q q 0 0 0 rg BT 307.70 445.00 Td (to ) Tj ET Q q 0 0 0 rg BT 316.31 445.00 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 341.20 445.00 Td ( ) Tj ET Q q 0 0 0 rg BT 343.60 445.00 Td (of ) Tj ET Q q 0 0 0 rg BT 352.65 445.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 369.27 445.00 Td (8.3 ) Tj ET Q q 0 0 0 rg BT 381.66 445.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 0 0 rg BT 404.77 445.00 Td ( ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 407.17 445.00 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.78 445.00 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.78 445.00 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.17 445.00 Td (a ) Tj ET Q q 0 0 0 rg BT 442.11 445.00 Td (decrease) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.65 445.00 Td ( ) Tj ET Q q 0 0 0 rg BT 472.04 445.00 Td (of ) Tj ET Q q 0 0 0 rg BT 481.09 445.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.71 445.00 Td (0.5 ) Tj ET Q q 0 0 0 rg BT 510.10 445.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.22 445.00 Td (. ) Tj ET Q q 0 0 0 rg BT 537.61 445.00 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 562.50 445.00 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 435.40 Td (increased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 79.70 435.40 Td ( ) Tj ET Q q 0 0 0 rg BT 81.70 435.40 Td (by ) Tj ET Q q 0 0 0 rg BT 91.70 435.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 107.93 435.40 Td (0.4 ) Tj ET Q q 0 0 0 rg BT 119.93 435.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 143.04 435.40 Td ( ) Tj ET Q q 0 0 0 rg BT 145.04 435.40 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 153.27 435.40 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 169.27 435.40 Td ( ) Tj ET Q q 0 0 0 rg BT 171.27 435.40 Td (compared ) Tj ET Q q 0 0 0 rg BT 204.80 435.40 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 213.03 435.40 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 229.03 435.40 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 416.80 Td (Czech ) Tj ET Q q 0 0 0 rg BT 72.38 416.80 Td (Republic) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 361.30 111.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 361.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 361.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 361.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 361.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 361.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 361.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 361.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 361.30 9.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 361.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 361.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 361.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 361.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 361.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 361.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 361.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 331.30 111.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 331.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 331.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 331.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 331.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 331.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 331.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 331.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 331.30 9.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 331.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 331.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 331.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 331.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 331.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 331.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 331.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 301.30 111.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 301.30 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 301.30 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 301.30 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 301.30 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 301.30 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 301.30 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 301.30 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 301.30 9.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 301.30 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 301.30 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 301.30 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 301.30 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 301.30 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 301.30 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 301.30 46.00 -21.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 391.29999999999995 m 206.5 391.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 206.5 391.29999999999995 m 210.5 391.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 391.29999999999995 m 256.5 391.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 391.29999999999995 m 260.5 391.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 391.29999999999995 m 306.5 391.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 391.29999999999995 m 310.5 391.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 391.29999999999995 m 356.5 391.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 391.29999999999995 m 365.5 391.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 391.29999999999995 m 411.5 391.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 391.29999999999995 m 415.5 391.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 391.29999999999995 m 461.5 391.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 391.29999999999995 m 465.5 391.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 391.29999999999995 m 511.5 391.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 391.29999999999995 m 515.5 391.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 391.29999999999995 m 561.5 391.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 376.29999999999995 m 306.5 376.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 376.29999999999995 m 310.5 376.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 376.29999999999995 m 356.5 376.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 391.29999999999995 m 511.5 391.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 376.29999999999995 m 511.5 376.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 391.29999999999995 m 515.5 391.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 376.29999999999995 m 515.5 376.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 391.29999999999995 m 561.5 391.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 376.29999999999995 m 561.5 376.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 361.29999999999995 m 206.5 361.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 361.29999999999995 m 256.5 361.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 361.29999999999995 m 306.5 361.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 361.29999999999995 m 411.5 361.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 361.29999999999995 m 461.5 361.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 361.29999999999995 m 511.5 361.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 361.29999999999995 m 206.5 361.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 361.29999999999995 m 256.5 361.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 361.29999999999995 m 356.5 361.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 361.29999999999995 m 461.5 361.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 361.29999999999995 m 561.5 361.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 316.29999999999995 m 461.5 316.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 316.29999999999995 m 206.5 316.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 316.29999999999995 m 256.5 316.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 316.29999999999995 m 411.5 316.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 316.29999999999995 m 461.5 316.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 280.29999999999995 m 256.5 280.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 280.29999999999995 m 206.5 280.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 266.29999999999995 m 206.5 266.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 264.29999999999995 m 206.5 264.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 280.29999999999995 m 256.5 280.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 266.29999999999995 m 256.5 266.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 264.29999999999995 m 256.5 264.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 280.29999999999995 m 411.5 280.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 266.29999999999995 m 411.5 266.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 264.29999999999995 m 411.5 264.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 280.29999999999995 m 461.5 280.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 266.29999999999995 m 461.5 266.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 264.29999999999995 m 461.5 264.29999999999995 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 395.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 281.05 395.53 Td (For the Year Ending December 31, \(US$ 000's\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 380.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 163.00 380.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 213.00 380.55 Td () Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 290.65 380.53 Td (Movement) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 495.65 380.53 Td (Movement) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 365.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 187.00 365.53 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 237.00 365.53 Td (2013) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 283.50 365.53 Td (% Act) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 334.55 365.53 Td (% Lfl) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 392.00 365.53 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.00 365.53 Td (2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.40 365.53 Td (% Act) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 537.75 365.53 Td (% Lfl) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 350.55 Td (T) Tj ET Q q 0 0 0 rg BT 56.61 350.55 Td (elevision ) Tj ET Q q 0 0 0 rg BT 87.21 350.55 Td (advertising) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 163.00 350.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 177.25 350.55 Td (184,369) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 213.00 350.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 227.25 350.55 Td (153,640) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 282.65 350.55 Td (20.0) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 299.30 350.55 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 332.65 350.55 Td (28.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.25 350.55 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.00 350.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.25 350.55 Td (153,640) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 350.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.25 350.55 Td (229,655) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 484.95 350.55 Td (\(33.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 501.65 350.55 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 534.95 350.55 Td (\(32.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 551.65 350.55 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 335.55 Td (Carriage fees and subscriptions) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 185.25 335.55 Td (7,679) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.25 335.55 Td (11,243) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 279.95 335.55 Td (\(31.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 296.65 335.55 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 329.95 335.55 Td (\(27.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.65 335.55 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.25 335.55 Td (11,243) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.25 335.55 Td (11,297) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 488.95 335.55 Td (\(0.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 501.65 335.55 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 538.95 335.55 Td (\(0.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 551.65 335.55 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 320.55 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.25 320.55 Td (10,731) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.25 320.55 Td (10,056) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 286.65 320.55 Td (6.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 299.30 320.55 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 332.65 320.55 Td (15.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.25 320.55 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.25 320.55 Td (10,056) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.25 320.55 Td (11,210) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 484.95 320.55 Td (\(10.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 501.65 320.55 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 538.95 320.55 Td (\(8.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 551.65 320.55 Td (\)%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 305.53 Td (Net ) Tj ET Q q 0 0 0 rg BT 65.99 305.53 Td (r) Tj ET Q q 0 0 0 rg BT 69.47 305.53 Td (evenues) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 177.25 305.53 Td (202,779) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 227.25 305.53 Td (174,939) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 282.65 305.53 Td (15.9) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 299.30 305.53 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 332.65 305.53 Td (24.5) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 349.25 305.53 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.25 305.53 Td (174,939) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 432.25 305.53 Td (252,161) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 484.95 305.53 Td (\(30.6) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 501.65 305.53 Td (\)%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 534.95 305.53 Td (\(30.0) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 551.65 305.53 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 292.55 Td (Costs ) Tj ET Q q 0 0 0 rg BT 75.97 292.55 Td (char) Tj ET Q q 0 0 0 rg BT 89.59 292.55 Td (ged ) Tj ET Q q 0 0 0 rg BT 107.32 292.55 Td (in ) Tj ET Q q 0 0 0 rg BT 119.72 292.55 Td (arriving ) Tj ET Q q 0 0 0 rg BT 151.23 292.55 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 284.55 Td (OIBDA) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 177.25 284.55 Td (140,815) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 227.25 284.55 Td (184,543) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 279.95 284.55 Td (\(23.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 296.65 284.55 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 329.95 284.55 Td (\(18.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.65 284.55 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.25 284.55 Td (184,543) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.25 284.55 Td (148,165) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.65 284.55 Td (24.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 504.30 284.55 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 537.65 284.55 Td (25.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.30 284.55 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 269.53 Td (OIBDA) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 163.00 269.53 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 181.25 269.53 Td (61,964) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 213.00 269.53 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 232.60 269.53 Td (\(9,604) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 253.30 269.53 Td (\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 282.00 269.53 Td (NM ) Tj ET Q BT /F4 8.00 Tf ET BT /F4 5.20 Tf ET q 0 0 0 rg BT 296.89 273.16 Td (\(1\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 332.00 269.53 Td (NM ) Tj ET Q BT /F4 8.00 Tf ET BT /F4 5.20 Tf ET q 0 0 0 rg BT 346.89 273.16 Td (\(1\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 368.00 269.53 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 387.60 269.53 Td (\(9,604) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.30 269.53 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.00 269.53 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 432.25 269.53 Td (103,996) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 487.00 269.53 Td (NM ) Tj ET Q BT /F4 8.00 Tf ET BT /F4 5.20 Tf ET q 0 0 0 rg BT 501.89 273.16 Td (\(1\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 537.00 269.53 Td (NM ) Tj ET Q BT /F4 8.00 Tf ET BT /F4 5.20 Tf ET q 0 0 0 rg BT 551.89 273.16 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET BT /F1 7.00 Tf ET q 0 0 0 rg BT 67.50 251.40 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 85.50 251.40 Td (Number is not meaningful.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 235.80 Td (Following ) Tj ET Q q 0 0 0 rg BT 83.71 235.80 Td (the ) Tj ET Q q 0 0 0 rg BT 94.80 235.80 Td (changes ) Tj ET Q q 0 0 0 rg BT 121.89 235.80 Td (made ) Tj ET Q q 0 0 0 rg BT 140.53 235.80 Td (to ) Tj ET Q q 0 0 0 rg BT 148.07 235.80 Td (the ) Tj ET Q q 0 0 0 rg BT 159.16 235.80 Td (sales ) Tj ET Q q 0 0 0 rg BT 176.03 235.80 Td (policy ) Tj ET Q q 0 0 0 rg BT 197.34 235.80 Td (for ) Tj ET Q q 0 0 0 rg BT 207.99 235.80 Td (2014 ) Tj ET Q q 0 0 0 rg BT 225.30 235.80 Td (in ) Tj ET Q q 0 0 0 rg BT 232.84 235.80 Td (the ) Tj ET Q q 0 0 0 rg BT 243.93 235.80 Td (Czech ) Tj ET Q q 0 0 0 rg BT 265.24 235.80 Td (Republic, ) Tj ET Q q 0 0 0 rg BT 297.44 235.80 Td (the ) Tj ET Q q 0 0 0 rg BT 308.53 235.80 Td (demand ) Tj ET Q q 0 0 0 rg BT 335.17 235.80 Td (for ) Tj ET Q q 0 0 0 rg BT 345.82 235.80 Td (advertising ) Tj ET Q q 0 0 0 rg BT 382.68 235.80 Td (on ) Tj ET Q q 0 0 0 rg BT 392.00 235.80 Td (our ) Tj ET Q q 0 0 0 rg BT 403.98 235.80 Td (channels ) Tj ET Q q 0 0 0 rg BT 433.29 235.80 Td (increased ) Tj ET Q q 0 0 0 rg BT 464.81 235.80 Td (significantly ) Tj ET Q q 0 0 0 rg BT 506.12 235.80 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 513.66 235.80 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.66 235.80 Td ( ) Tj ET Q q 0 0 0 rg BT 530.97 235.80 Td (compared ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 226.20 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.58 226.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 73.58 226.20 Td (. ) Tj ET Q q 0 0 0 rg BT 77.44 226.20 Td (Since ) Tj ET Q q 0 0 0 rg BT 97.07 226.20 Td (the ) Tj ET Q q 0 0 0 rg BT 108.70 226.20 Td (increase ) Tj ET Q q 0 0 0 rg BT 136.75 226.20 Td (in ) Tj ET Q q 0 0 0 rg BT 144.83 226.20 Td (our ) Tj ET Q q 0 0 0 rg BT 157.35 226.20 Td (GRPs ) Tj ET Q q 0 0 0 rg BT 177.89 226.20 Td (consumed ) Tj ET Q q 0 0 0 rg BT 212.18 226.20 Td (is ) Tj ET Q q 0 0 0 rg BT 219.37 226.20 Td (estimated ) Tj ET Q q 0 0 0 rg BT 251.89 226.20 Td (to ) Tj ET Q q 0 0 0 rg BT 259.96 226.20 Td (have ) Tj ET Q q 0 0 0 rg BT 276.92 226.20 Td (outpaced ) Tj ET Q q 0 0 0 rg BT 307.65 226.20 Td (the ) Tj ET Q q 0 0 0 rg BT 319.28 226.20 Td (decline ) Tj ET Q q 0 0 0 rg BT 344.24 226.20 Td (in ) Tj ET Q q 0 0 0 rg BT 352.32 226.20 Td (competitor's ) Tj ET Q q 0 0 0 rg BT 393.38 226.20 Td (GRPs ) Tj ET Q q 0 0 0 rg BT 413.92 226.20 Td (consumed, ) Tj ET Q q 0 0 0 rg BT 450.21 226.20 Td (the ) Tj ET Q q 0 0 0 rg BT 461.84 226.20 Td (television ) Tj ET Q q 0 0 0 rg BT 494.80 226.20 Td (advertising ) Tj ET Q q 0 0 0 rg BT 532.21 226.20 Td (market ) Tj ET Q q 0 0 0 rg BT 556.27 226.20 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 216.60 Td (the ) Tj ET Q q 0 0 0 rg BT 61.34 216.60 Td (Czech ) Tj ET Q q 0 0 0 rg BT 83.40 216.60 Td (Republic ) Tj ET Q q 0 0 0 rg BT 114.36 216.60 Td (is ) Tj ET Q q 0 0 0 rg BT 121.76 216.60 Td (estimated ) Tj ET Q q 0 0 0 rg BT 154.49 216.60 Td (to ) Tj ET Q q 0 0 0 rg BT 162.78 216.60 Td (have ) Tj ET Q q 0 0 0 rg BT 179.95 216.60 Td (increased ) Tj ET Q q 0 0 0 rg BT 212.23 216.60 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 222.30 216.60 Td (6%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 232.96 216.60 Td ( ) Tj ET Q q 0 0 0 rg BT 235.03 216.60 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 243.32 216.60 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 259.32 216.60 Td ( ) Tj ET Q q 0 0 0 rg BT 261.39 216.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 295.00 216.60 Td (to ) Tj ET Q q 0 0 0 rg BT 303.30 216.60 Td (the ) Tj ET Q q 0 0 0 rg BT 315.14 216.60 Td (prior ) Tj ET Q q 0 0 0 rg BT 332.76 216.60 Td (year) Tj ET Q q 0 0 0 rg BT 346.09 216.60 Td (. ) Tj ET Q q 0 0 0 rg BT 350.16 216.60 Td (Net ) Tj ET Q q 0 0 0 rg BT 363.78 216.60 Td (revenues ) Tj ET Q q 0 0 0 rg BT 394.28 216.60 Td (from ) Tj ET Q q 0 0 0 rg BT 411.90 216.60 Td (our ) Tj ET Q q 0 0 0 rg BT 424.63 216.60 Td (Czech ) Tj ET Q q 0 0 0 rg BT 446.69 216.60 Td (Republic ) Tj ET Q q 0 0 0 rg BT 477.64 216.60 Td (segment ) Tj ET Q q 0 0 0 rg BT 506.38 216.60 Td (amounted ) Tj ET Q q 0 0 0 rg BT 539.99 216.60 Td (to ) Tj ET Q q 0 0 0 rg BT 548.29 216.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 207.00 Td (202.8 ) Tj ET Q q 0 0 0 rg BT 69.52 207.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 92.64 207.00 Td ( ) Tj ET Q q 0 0 0 rg BT 94.66 207.00 Td (for ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.01 207.00 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 122.01 207.00 Td ( ) Tj ET Q q 0 0 0 rg BT 124.04 207.00 Td (compared ) Tj ET Q q 0 0 0 rg BT 157.60 207.00 Td (to ) Tj ET Q q 0 0 0 rg BT 165.84 207.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.09 207.00 Td (174.9 ) Tj ET Q q 0 0 0 rg BT 202.12 207.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 225.23 207.00 Td ( ) Tj ET Q q 0 0 0 rg BT 227.25 207.00 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.50 207.00 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 251.50 207.00 Td (, ) Tj ET Q q 0 0 0 rg BT 255.52 207.00 Td (an ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 265.10 207.00 Td (increase) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.30 207.00 Td ( ) Tj ET Q q 0 0 0 rg BT 293.32 207.00 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.01 207.00 Td (16%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 316.68 207.00 Td ( ) Tj ET Q q 0 0 0 rg BT 318.70 207.00 Td (on ) Tj ET Q q 0 0 0 rg BT 328.72 207.00 Td (an ) Tj ET Q q 0 0 0 rg BT 338.30 207.00 Td (actual ) Tj ET Q q 0 0 0 rg BT 359.42 207.00 Td (basis, ) Tj ET Q q 0 0 0 rg BT 379.44 207.00 Td (or ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.13 207.00 Td (25%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.79 207.00 Td ( ) Tj ET Q q 0 0 0 rg BT 404.82 207.00 Td (on ) Tj ET Q q 0 0 0 rg BT 414.84 207.00 Td (a ) Tj ET Q q 0 0 0 rg BT 420.41 207.00 Td (constant ) Tj ET Q q 0 0 0 rg BT 449.10 207.00 Td (currency ) Tj ET Q q 0 0 0 rg BT 479.10 207.00 Td (basis, ) Tj ET Q q 0 0 0 rg BT 499.13 207.00 Td (due ) Tj ET Q q 0 0 0 rg BT 512.70 207.00 Td (primarily ) Tj ET Q q 0 0 0 rg BT 544.49 207.00 Td (to ) Tj ET Q q 0 0 0 rg BT 552.74 207.00 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 197.40 Td (increase ) Tj ET Q q 0 0 0 rg BT 77.91 197.40 Td (in ) Tj ET Q q 0 0 0 rg BT 86.35 197.40 Td (television ) Tj ET Q q 0 0 0 rg BT 119.66 197.40 Td (advertising ) Tj ET Q q 0 0 0 rg BT 157.42 197.40 Td (revenues. ) Tj ET Q q 0 0 0 rg BT 190.06 197.40 Td (Carriage ) Tj ET Q q 0 0 0 rg BT 219.81 197.40 Td (fees ) Tj ET Q q 0 0 0 rg BT 234.90 197.40 Td (and ) Tj ET Q q 0 0 0 rg BT 248.66 197.40 Td (subscription ) Tj ET Q q 0 0 0 rg BT 289.98 197.40 Td (revenues ) Tj ET Q q 0 0 0 rg BT 320.62 197.40 Td (decreased ) Tj ET Q q 0 0 0 rg BT 354.36 197.40 Td (during ) Tj ET Q q 0 0 0 rg BT 377.45 197.40 Td (2014 ) Tj ET Q q 0 0 0 rg BT 395.66 197.40 Td (because ) Tj ET Q q 0 0 0 rg BT 423.19 197.40 Td (we ) Tj ET Q q 0 0 0 rg BT 434.73 197.40 Td (stopped ) Tj ET Q q 0 0 0 rg BT 461.82 197.40 Td (transmitting ) Tj ET Q q 0 0 0 rg BT 502.70 197.40 Td (MTV) Tj ET Q q 0 0 0 rg BT 520.33 197.40 Td ( ) Tj ET Q q 0 0 0 rg BT 522.54 197.40 Td (Czech ) Tj ET Q q 0 0 0 rg BT 544.74 197.40 Td (at ) Tj ET Q q 0 0 0 rg BT 552.72 197.40 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 187.80 Td (end ) Tj ET Q q 0 0 0 rg BT 62.86 187.80 Td (of ) Tj ET Q q 0 0 0 rg BT 71.33 187.80 Td (2013 ) Tj ET Q q 0 0 0 rg BT 89.14 187.80 Td (and ) Tj ET Q q 0 0 0 rg BT 102.50 187.80 Td (because ) Tj ET Q q 0 0 0 rg BT 129.63 187.80 Td (Nova ) Tj ET Q q 0 0 0 rg BT 148.76 187.80 Td (Sport ) Tj ET Q q 0 0 0 rg BT 167.91 187.80 Td (was ) Tj ET Q q 0 0 0 rg BT 182.16 187.80 Td (not ) Tj ET Q q 0 0 0 rg BT 194.19 187.80 Td (carried ) Tj ET Q q 0 0 0 rg BT 218.20 187.80 Td (by ) Tj ET Q q 0 0 0 rg BT 228.01 187.80 Td (one ) Tj ET Q q 0 0 0 rg BT 241.37 187.80 Td (cable ) Tj ET Q q 0 0 0 rg BT 260.05 187.80 Td (operator ) Tj ET Q q 0 0 0 rg BT 288.51 187.80 Td (in ) Tj ET Q q 0 0 0 rg BT 296.54 187.80 Td (the ) Tj ET Q q 0 0 0 rg BT 308.13 187.80 Td (Czech ) Tj ET Q q 0 0 0 rg BT 329.92 187.80 Td (Republic ) Tj ET Q q 0 0 0 rg BT 360.61 187.80 Td (during ) Tj ET Q q 0 0 0 rg BT 383.31 187.80 Td (a ) Tj ET Q q 0 0 0 rg BT 388.67 187.80 Td (portion ) Tj ET Q q 0 0 0 rg BT 413.59 187.80 Td (of ) Tj ET Q q 0 0 0 rg BT 422.06 187.80 Td (the ) Tj ET Q q 0 0 0 rg BT 433.64 187.80 Td (year) Tj ET Q q 0 0 0 rg BT 446.96 187.80 Td (. ) Tj ET Q q 0 0 0 rg BT 450.64 187.80 Td (W) Tj ET Q q 0 0 0 rg BT 457.55 187.80 Td (e ) Tj ET Q q 0 0 0 rg BT 462.91 187.80 Td (recently ) Tj ET Q q 0 0 0 rg BT 490.48 187.80 Td (concluded ) Tj ET Q q 0 0 0 rg BT 525.17 187.80 Td (carriage ) Tj ET Q q 0 0 0 rg BT 552.73 187.80 Td (fee ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 178.20 Td (negotiations ) Tj ET Q q 0 0 0 rg BT 90.73 178.20 Td (in ) Tj ET Q q 0 0 0 rg BT 99.09 178.20 Td (the ) Tj ET Q q 0 0 0 rg BT 110.99 178.20 Td (Czech ) Tj ET Q q 0 0 0 rg BT 133.11 178.20 Td (Republic; ) Tj ET Q q 0 0 0 rg BT 166.34 178.20 Td (however) Tj ET Q q 0 0 0 rg BT 193.56 178.20 Td (, ) Tj ET Q q 0 0 0 rg BT 197.69 178.20 Td (given ) Tj ET Q q 0 0 0 rg BT 217.59 178.20 Td (the ) Tj ET Q q 0 0 0 rg BT 229.50 178.20 Td (higher ) Tj ET Q q 0 0 0 rg BT 252.06 178.20 Td (penetration ) Tj ET Q q 0 0 0 rg BT 290.18 178.20 Td (of ) Tj ET Q q 0 0 0 rg BT 298.97 178.20 Td (digital ) Tj ET Q q 0 0 0 rg BT 321.54 178.20 Td (terrestrial ) Tj ET Q q 0 0 0 rg BT 354.32 178.20 Td (television ) Tj ET Q q 0 0 0 rg BT 387.55 178.20 Td (and ) Tj ET Q q 0 0 0 rg BT 401.23 178.20 Td (fewer ) Tj ET Q q 0 0 0 rg BT 421.57 178.20 Td (television ) Tj ET Q q 0 0 0 rg BT 454.80 178.20 Td (households ) Tj ET Q q 0 0 0 rg BT 492.93 178.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 526.60 178.20 Td (to ) Tj ET Q q 0 0 0 rg BT 534.95 178.20 Td (Bulgaria ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 168.60 Td (and ) Tj ET Q q 0 0 0 rg BT 63.19 168.60 Td (Romania, ) Tj ET Q q 0 0 0 rg BT 96.21 168.60 Td (levels ) Tj ET Q q 0 0 0 rg BT 117.02 168.60 Td (of ) Tj ET Q q 0 0 0 rg BT 125.82 168.60 Td (carriage ) Tj ET Q q 0 0 0 rg BT 153.71 168.60 Td (fees ) Tj ET Q q 0 0 0 rg BT 168.73 168.60 Td (are ) Tj ET Q q 0 0 0 rg BT 180.64 168.60 Td (expected ) Tj ET Q q 0 0 0 rg BT 211.21 168.60 Td (to ) Tj ET Q q 0 0 0 rg BT 219.57 168.60 Td (be ) Tj ET Q q 0 0 0 rg BT 229.26 168.60 Td (lower ) Tj ET Q q 0 0 0 rg BT 249.62 168.60 Td (in ) Tj ET Q q 0 0 0 rg BT 257.98 168.60 Td (the ) Tj ET Q q 0 0 0 rg BT 269.89 168.60 Td (Czech ) Tj ET Q q 0 0 0 rg BT 292.02 168.60 Td (Republic ) Tj ET Q q 0 0 0 rg BT 323.05 168.60 Td (and ) Tj ET Q q 0 0 0 rg BT 336.74 168.60 Td (the ) Tj ET Q q 0 0 0 rg BT 348.65 168.60 Td (absolute ) Tj ET Q q 0 0 0 rg BT 377.45 168.60 Td (increase ) Tj ET Q q 0 0 0 rg BT 405.80 168.60 Td (in ) Tj ET Q q 0 0 0 rg BT 414.16 168.60 Td (carriage ) Tj ET Q q 0 0 0 rg BT 442.05 168.60 Td (fees ) Tj ET Q q 0 0 0 rg BT 457.07 168.60 Td (and ) Tj ET Q q 0 0 0 rg BT 470.77 168.60 Td (subscription ) Tj ET Q q 0 0 0 rg BT 512.02 168.60 Td (revenues ) Tj ET Q q 0 0 0 rg BT 542.59 168.60 Td (in ) Tj ET Q q 0 0 0 rg BT 550.95 168.60 Td (this ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 159.00 Td (segment ) Tj ET Q q 0 0 0 rg BT 78.18 159.00 Td (during ) Tj ET Q q 0 0 0 rg BT 101.08 159.00 Td (2015 ) Tj ET Q q 0 0 0 rg BT 119.09 159.00 Td (is ) Tj ET Q q 0 0 0 rg BT 126.45 159.00 Td (expected ) Tj ET Q q 0 0 0 rg BT 156.89 159.00 Td (to ) Tj ET Q q 0 0 0 rg BT 165.13 159.00 Td (be ) Tj ET Q q 0 0 0 rg BT 174.69 159.00 Td (moderate ) Tj ET Q q 0 0 0 rg BT 206.47 159.00 Td (relative ) Tj ET Q q 0 0 0 rg BT 232.47 159.00 Td (to ) Tj ET Q q 0 0 0 rg BT 240.71 159.00 Td (2014. ) Tj ET Q q 0 0 0 rg BT 260.58 159.00 Td (The ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 275.03 159.00 Td (30%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.69 159.00 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.71 159.00 Td (decrease) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.24 159.00 Td ( ) Tj ET Q q 0 0 0 rg BT 321.26 159.00 Td (in ) Tj ET Q q 0 0 0 rg BT 329.50 159.00 Td (net ) Tj ET Q q 0 0 0 rg BT 341.28 159.00 Td (revenues ) Tj ET Q q 0 0 0 rg BT 371.73 159.00 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.97 159.00 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 395.97 159.00 Td ( ) Tj ET Q q 0 0 0 rg BT 397.98 159.00 Td (compared ) Tj ET Q q 0 0 0 rg BT 431.54 159.00 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.78 159.00 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.78 159.00 Td ( ) Tj ET Q q 0 0 0 rg BT 457.79 159.00 Td (on ) Tj ET Q q 0 0 0 rg BT 467.81 159.00 Td (a ) Tj ET Q q 0 0 0 rg BT 473.37 159.00 Td (constant ) Tj ET Q q 0 0 0 rg BT 502.05 159.00 Td (currency ) Tj ET Q q 0 0 0 rg BT 532.05 159.00 Td (basis ) Tj ET Q q 0 0 0 rg BT 550.06 159.00 Td (was ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 149.40 Td (due ) Tj ET Q q 0 0 0 rg BT 63.33 149.40 Td (primarily ) Tj ET Q q 0 0 0 rg BT 95.38 149.40 Td (to ) Tj ET Q q 0 0 0 rg BT 103.88 149.40 Td (a ) Tj ET Q q 0 0 0 rg BT 109.70 149.40 Td (decrease ) Tj ET Q q 0 0 0 rg BT 139.51 149.40 Td (in ) Tj ET Q q 0 0 0 rg BT 148.01 149.40 Td (television ) Tj ET Q q 0 0 0 rg BT 181.39 149.40 Td (advertising ) Tj ET Q q 0 0 0 rg BT 219.22 149.40 Td (revenue ) Tj ET Q q 0 0 0 rg BT 246.81 149.40 Td (as ) Tj ET Q q 0 0 0 rg BT 255.75 149.40 Td (a ) Tj ET Q q 0 0 0 rg BT 261.58 149.40 Td (result ) Tj ET Q q 0 0 0 rg BT 281.63 149.40 Td (of ) Tj ET Q q 0 0 0 rg BT 290.57 149.40 Td (our ) Tj ET Q q 0 0 0 rg BT 303.52 149.40 Td (advertising ) Tj ET Q q 0 0 0 rg BT 341.34 149.40 Td (price ) Tj ET Q q 0 0 0 rg BT 359.61 149.40 Td (initiatives ) Tj ET Q q 0 0 0 rg BT 393.43 149.40 Td (in ) Tj ET Q q 0 0 0 rg BT 401.93 149.40 Td (the ) Tj ET Q q 0 0 0 rg BT 413.98 149.40 Td (Czech ) Tj ET Q q 0 0 0 rg BT 436.25 149.40 Td (Republic ) Tj ET Q q 0 0 0 rg BT 467.41 149.40 Td (during ) Tj ET Q q 0 0 0 rg BT 490.57 149.40 Td (2013, ) Tj ET Q q 0 0 0 rg BT 510.85 149.40 Td (which ) Tj ET Q q 0 0 0 rg BT 532.68 149.40 Td (were ) Tj ET Q q 0 0 0 rg BT 550.50 149.40 Td (met ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 139.80 Td (with ) Tj ET Q q 0 0 0 rg BT 66.26 139.80 Td (significant ) Tj ET Q q 0 0 0 rg BT 102.56 139.80 Td (resistance ) Tj ET Q q 0 0 0 rg BT 136.63 139.80 Td (from ) Tj ET Q q 0 0 0 rg BT 154.71 139.80 Td (certain ) Tj ET Q q 0 0 0 rg BT 179.01 139.80 Td (media ) Tj ET Q q 0 0 0 rg BT 201.09 139.80 Td (agencies ) Tj ET Q q 0 0 0 rg BT 231.16 139.80 Td (and ) Tj ET Q q 0 0 0 rg BT 245.25 139.80 Td (advertisers ) Tj ET Q q 0 0 0 rg BT 282.43 139.80 Td (and ) Tj ET Q q 0 0 0 rg BT 296.52 139.80 Td (led ) Tj ET Q q 0 0 0 rg BT 308.82 139.80 Td (them ) Tj ET Q q 0 0 0 rg BT 327.35 139.80 Td (to ) Tj ET Q q 0 0 0 rg BT 336.11 139.80 Td (hold ) Tj ET Q q 0 0 0 rg BT 352.86 139.80 Td (back ) Tj ET Q q 0 0 0 rg BT 370.50 139.80 Td (some ) Tj ET Q q 0 0 0 rg BT 389.92 139.80 Td (of ) Tj ET Q q 0 0 0 rg BT 399.12 139.80 Td (their ) Tj ET Q q 0 0 0 rg BT 416.31 139.80 Td (advertising ) Tj ET Q q 0 0 0 rg BT 454.39 139.80 Td (on ) Tj ET Q q 0 0 0 rg BT 464.92 139.80 Td (our ) Tj ET Q q 0 0 0 rg BT 478.12 139.80 Td (channels. ) Tj ET Q q 0 0 0 rg BT 510.64 139.80 Td (Bontonfilm ) Tj ET Q q 0 0 0 rg BT 550.06 139.80 Td (was ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 130.20 Td (disposed ) Tj ET Q q 0 0 0 rg BT 79.50 130.20 Td (of ) Tj ET Q q 0 0 0 rg BT 88.16 130.20 Td (in ) Tj ET Q q 0 0 0 rg BT 96.39 130.20 Td (June ) Tj ET Q q 0 0 0 rg BT 113.05 130.20 Td (2014 ) Tj ET Q q 0 0 0 rg BT 131.05 130.20 Td (and ) Tj ET Q q 0 0 0 rg BT 144.60 130.20 Td (its ) Tj ET Q q 0 0 0 rg BT 154.16 130.20 Td (results ) Tj ET Q q 0 0 0 rg BT 177.05 130.20 Td (are ) Tj ET Q q 0 0 0 rg BT 188.81 130.20 Td (not ) Tj ET Q q 0 0 0 rg BT 201.04 130.20 Td (included ) Tj ET Q q 0 0 0 rg BT 230.58 130.20 Td (in ) Tj ET Q q 0 0 0 rg BT 238.80 130.20 Td (segment ) Tj ET Q q 0 0 0 rg BT 267.46 130.20 Td (performance ) Tj ET Q q 0 0 0 rg BT 309.88 130.20 Td (and ) Tj ET Q q 0 0 0 rg BT 323.43 130.20 Td (are ) Tj ET Q q 0 0 0 rg BT 335.20 130.20 Td (presented ) Tj ET Q q 0 0 0 rg BT 367.85 130.20 Td (as ) Tj ET Q q 0 0 0 rg BT 376.52 130.20 Td (discontinued ) Tj ET Q q 0 0 0 rg BT 419.40 130.20 Td (operations ) Tj ET Q q 0 0 0 rg BT 454.72 130.20 Td (for ) Tj ET Q q 0 0 0 rg BT 466.05 130.20 Td (all ) Tj ET Q q 0 0 0 rg BT 476.05 130.20 Td (periods. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 114.60 Td (Costs ) Tj ET Q q 0 0 0 rg BT 68.98 114.60 Td (char) Tj ET Q q 0 0 0 rg BT 82.60 114.60 Td (ged ) Tj ET Q q 0 0 0 rg BT 95.84 114.60 Td (in ) Tj ET Q q 0 0 0 rg BT 103.76 114.60 Td (arriving ) Tj ET Q q 0 0 0 rg BT 130.78 114.60 Td (at ) Tj ET Q q 0 0 0 rg BT 138.24 114.60 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 163.13 114.60 Td ( ) Tj ET Q q 0 0 0 rg BT 164.83 114.60 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 172.74 114.60 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 188.74 114.60 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 190.44 114.60 Td (decreased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.97 114.60 Td ( ) Tj ET Q q 0 0 0 rg BT 223.66 114.60 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 233.36 114.60 Td (24%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 248.02 114.60 Td ( ) Tj ET Q q 0 0 0 rg BT 249.71 114.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 282.95 114.60 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 290.86 114.60 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.86 114.60 Td (. ) Tj ET Q q 0 0 0 rg BT 310.55 114.60 Td (On ) Tj ET Q q 0 0 0 rg BT 322.03 114.60 Td (a ) Tj ET Q q 0 0 0 rg BT 327.27 114.60 Td (constant ) Tj ET Q q 0 0 0 rg BT 355.62 114.60 Td (currency ) Tj ET Q q 0 0 0 rg BT 385.30 114.60 Td (basis ) Tj ET Q q 0 0 0 rg BT 402.99 114.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 420.68 114.60 Td (decreased ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.91 114.60 Td (18%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.57 114.60 Td ( ) Tj ET Q q 0 0 0 rg BT 470.27 114.60 Td (reflecting ) Tj ET Q q 0 0 0 rg BT 502.61 114.60 Td (significantly ) Tj ET Q q 0 0 0 rg BT 544.29 114.60 Td (lower ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 105.00 Td (programming ) Tj ET Q q 0 0 0 rg BT 95.11 105.00 Td (impairment, ) Tj ET Q q 0 0 0 rg BT 136.06 105.00 Td (lower ) Tj ET Q q 0 0 0 rg BT 156.34 105.00 Td (content ) Tj ET Q q 0 0 0 rg BT 181.96 105.00 Td (and ) Tj ET Q q 0 0 0 rg BT 195.58 105.00 Td (transmission ) Tj ET Q q 0 0 0 rg BT 238.09 105.00 Td (costs, ) Tj ET Q q 0 0 0 rg BT 258.16 105.00 Td (including ) Tj ET Q q 0 0 0 rg BT 290.44 105.00 Td (cost ) Tj ET Q q 0 0 0 rg BT 305.40 105.00 Td (savings ) Tj ET Q q 0 0 0 rg BT 331.46 105.00 Td (from ) Tj ET Q q 0 0 0 rg BT 349.08 105.00 Td (our ) Tj ET Q q 0 0 0 rg BT 361.81 105.00 Td (ceasing ) Tj ET Q q 0 0 0 rg BT 387.87 105.00 Td (to ) Tj ET Q q 0 0 0 rg BT 396.16 105.00 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 428.88 105.00 Td (MTV) Tj ET Q q 0 0 0 rg BT 446.51 105.00 Td ( ) Tj ET Q q 0 0 0 rg BT 448.58 105.00 Td (Czech, ) Tj ET Q q 0 0 0 rg BT 472.63 105.00 Td (and ) Tj ET Q q 0 0 0 rg BT 486.25 105.00 Td (lower ) Tj ET Q q 0 0 0 rg BT 506.53 105.00 Td (staf) Tj ET Q q 0 0 0 rg BT 517.94 105.00 Td (f ) Tj ET Q q 0 0 0 rg BT 522.67 105.00 Td (related ) Tj ET Q q 0 0 0 rg BT 546.50 105.00 Td (costs ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 95.40 Td (due ) Tj ET Q q 0 0 0 rg BT 62.88 95.40 Td (to ) Tj ET Q q 0 0 0 rg BT 70.94 95.40 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 113.65 95.40 Td (completed ) Tj ET Q q 0 0 0 rg BT 148.80 95.40 Td (in ) Tj ET Q q 0 0 0 rg BT 156.86 95.40 Td (the ) Tj ET Q q 0 0 0 rg BT 168.46 95.40 Td (prior ) Tj ET Q q 0 0 0 rg BT 185.85 95.40 Td (year) Tj ET Q q 0 0 0 rg BT 199.17 95.40 Td (. ) Tj ET Q q 0 0 0 rg BT 202.87 95.40 Td (The ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 217.14 95.40 Td (25%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.81 95.40 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 233.64 95.40 Td (increase) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 259.84 95.40 Td ( ) Tj ET Q q 0 0 0 rg BT 261.68 95.40 Td (in ) Tj ET Q q 0 0 0 rg BT 269.73 95.40 Td (costs ) Tj ET Q q 0 0 0 rg BT 287.56 95.40 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.62 95.40 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.62 95.40 Td ( ) Tj ET Q q 0 0 0 rg BT 313.45 95.40 Td (compared ) Tj ET Q q 0 0 0 rg BT 346.82 95.40 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.88 95.40 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.88 95.40 Td ( ) Tj ET Q q 0 0 0 rg BT 372.71 95.40 Td (on ) Tj ET Q q 0 0 0 rg BT 382.55 95.40 Td (a ) Tj ET Q q 0 0 0 rg BT 387.93 95.40 Td (constant ) Tj ET Q q 0 0 0 rg BT 416.42 95.40 Td (currency ) Tj ET Q q 0 0 0 rg BT 446.24 95.40 Td (basis ) Tj ET Q q 0 0 0 rg BT 464.07 95.40 Td (is ) Tj ET Q q 0 0 0 rg BT 471.24 95.40 Td (primarily ) Tj ET Q q 0 0 0 rg BT 502.84 95.40 Td (due ) Tj ET Q q 0 0 0 rg BT 516.23 95.40 Td (to ) Tj ET Q q 0 0 0 rg BT 524.28 95.40 Td (investments ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 85.80 Td (in ) Tj ET Q q 0 0 0 rg BT 57.88 85.80 Td (programming ) Tj ET Q q 0 0 0 rg BT 103.57 85.80 Td (and ) Tj ET Q q 0 0 0 rg BT 117.28 85.80 Td (the ) Tj ET Q q 0 0 0 rg BT 129.20 85.80 Td (full ) Tj ET Q q 0 0 0 rg BT 142.46 85.80 Td (year ) Tj ET Q q 0 0 0 rg BT 158.38 85.80 Td (impact ) Tj ET Q q 0 0 0 rg BT 182.30 85.80 Td (of ) Tj ET Q q 0 0 0 rg BT 191.12 85.80 Td (launching ) Tj ET Q q 0 0 0 rg BT 224.82 85.80 Td (three ) Tj ET Q q 0 0 0 rg BT 242.96 85.80 Td (new ) Tj ET Q q 0 0 0 rg BT 258.44 85.80 Td (channels ) Tj ET Q q 0 0 0 rg BT 288.58 85.80 Td (in ) Tj ET Q q 0 0 0 rg BT 296.96 85.80 Td (July ) Tj ET Q q 0 0 0 rg BT 312.45 85.80 Td (2012, ) Tj ET Q q 0 0 0 rg BT 332.60 85.80 Td (as ) Tj ET Q q 0 0 0 rg BT 341.41 85.80 Td (well ) Tj ET Q q 0 0 0 rg BT 357.34 85.80 Td (as ) Tj ET Q q 0 0 0 rg BT 366.16 85.80 Td (impairment ) Tj ET Q q 0 0 0 rg BT 405.19 85.80 Td (of ) Tj ET Q q 0 0 0 rg BT 414.00 85.80 Td (acquired ) Tj ET Q q 0 0 0 rg BT 443.70 85.80 Td (program ) Tj ET Q q 0 0 0 rg BT 472.95 85.80 Td (rights ) Tj ET Q q 0 0 0 rg BT 493.32 85.80 Td (and ) Tj ET Q q 0 0 0 rg BT 507.03 85.80 Td (local ) Tj ET Q q 0 0 0 rg BT 524.73 85.80 Td (productions ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 76.20 Td (amounting ) Tj ET Q q 0 0 0 rg BT 85.72 76.20 Td (to ) Tj ET Q q 0 0 0 rg BT 93.94 76.20 Td (US$ ) Tj ET Q q 0 0 0 rg BT 110.17 76.20 Td (1) Tj ET Q q 0 0 0 rg BT 113.87 76.20 Td (1.5 ) Tj ET Q q 0 0 0 rg BT 125.87 76.20 Td (million.) 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8.00 Tf ET q 0 0 0 rg BT 368.00 657.35 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.25 657.35 Td (119,615) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 657.35 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.25 657.35 Td (113,191) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 491.65 657.35 Td (5.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 504.30 657.35 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 541.65 657.35 Td (2.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.30 657.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 642.35 Td (Carriage fees and subscriptions) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.25 642.35 Td (45,851) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.25 642.35 Td (24,792) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 282.65 642.35 Td (84.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 299.30 642.35 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 332.65 642.35 Td (87.0) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.25 642.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.25 642.35 Td (24,792) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.25 642.35 Td (19,590) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.65 642.35 Td (26.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 504.30 642.35 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 537.65 642.35 Td (22.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.30 642.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 627.35 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 185.25 627.35 Td (7,027) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.25 627.35 Td (17,898) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 279.95 627.35 Td (\(60.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 296.65 627.35 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 329.95 627.35 Td (\(60.8) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.65 627.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.25 627.35 Td (17,898) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.25 627.35 Td (20,356) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 484.95 627.35 Td (\(12.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 501.65 627.35 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 534.95 627.35 Td (\(15.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 551.65 627.35 Td (\)%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 612.33 Td (Net ) Tj ET Q q 0 0 0 rg BT 65.99 612.33 Td (r) Tj ET Q q 0 0 0 rg BT 69.47 612.33 Td (evenues) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 177.25 612.33 Td (178,614) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 227.25 612.33 Td (162,305) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 282.65 612.33 Td (10.0) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 299.30 612.33 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 332.65 612.33 Td (11.1) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 349.25 612.33 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.25 612.33 Td (162,305) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 432.25 612.33 Td (153,137) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 491.65 612.33 Td (6.0) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 504.30 612.33 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 541.65 612.33 Td (2.5) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 554.30 612.33 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 599.35 Td (Costs ) Tj ET Q q 0 0 0 rg BT 75.97 599.35 Td (char) Tj ET Q q 0 0 0 rg BT 89.59 599.35 Td (ged ) Tj ET Q q 0 0 0 rg BT 107.32 599.35 Td (in ) Tj ET Q q 0 0 0 rg BT 119.72 599.35 Td (arriving ) Tj ET Q q 0 0 0 rg BT 151.23 599.35 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 591.35 Td (OIBDA) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 177.25 591.35 Td (141,355) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 227.25 591.35 Td (159,851) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 279.95 591.35 Td (\(11.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 296.65 591.35 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 329.95 591.35 Td (\(10.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.65 591.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.25 591.35 Td (159,851) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.25 591.35 Td (137,733) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.65 591.35 Td (16.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 504.30 591.35 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 537.65 591.35 Td (12.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.30 591.35 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 576.33 Td (OIBDA) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 163.00 576.33 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 181.25 576.33 Td (37,259) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 213.00 576.33 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 235.25 576.33 Td (2,454) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 282.00 576.33 Td (NM ) Tj ET Q BT /F4 8.00 Tf ET BT /F4 5.20 Tf ET q 0 0 0 rg BT 296.89 579.96 Td (\(1\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 332.00 576.33 Td (NM ) Tj ET Q BT /F4 8.00 Tf ET BT /F4 5.20 Tf ET q 0 0 0 rg BT 346.89 579.96 Td (\(1\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 368.00 576.33 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 390.25 576.33 Td (2,454) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.00 576.33 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.25 576.33 Td (15,404) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 484.95 576.33 Td (\(84.1) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 501.65 576.33 Td (\)%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 534.95 576.33 Td (\(84.6) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 551.65 576.33 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET BT /F1 7.00 Tf ET q 0 0 0 rg BT 67.50 558.20 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 85.50 558.20 Td (Number is not meaningful.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 542.60 Td (T) Tj ET Q q 0 0 0 rg BT 53.83 542.60 Td (elevision ) Tj ET Q q 0 0 0 rg BT 84.75 542.60 Td (advertising ) Tj ET Q q 0 0 0 rg BT 122.34 542.60 Td (spending ) Tj ET Q q 0 0 0 rg BT 153.27 542.60 Td (in ) Tj ET Q q 0 0 0 rg BT 161.54 542.60 Td (Romania ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 192.46 542.60 Td (increased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 222.66 542.60 Td ( ) Tj ET Q q 0 0 0 rg BT 224.71 542.60 Td (an ) Tj ET Q q 0 0 0 rg BT 234.30 542.60 Td (estimated ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.00 542.60 Td (5%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.66 542.60 Td ( ) Tj ET Q q 0 0 0 rg BT 279.70 542.60 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 287.97 542.60 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 303.97 542.60 Td ( ) Tj ET Q q 0 0 0 rg BT 306.01 542.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 339.59 542.60 Td (to ) Tj ET Q q 0 0 0 rg BT 347.85 542.60 Td (the ) Tj ET Q q 0 0 0 rg BT 359.67 542.60 Td (prior ) Tj ET Q q 0 0 0 rg BT 377.26 542.60 Td (year) Tj ET Q q 0 0 0 rg BT 390.59 542.60 Td (. ) Tj ET Q q 0 0 0 rg BT 394.48 542.60 Td (The ) Tj ET Q q 0 0 0 rg BT 408.96 542.60 Td (Romania ) Tj ET Q q 0 0 0 rg BT 439.89 542.60 Td (segment ) Tj ET Q q 0 0 0 rg BT 468.59 542.60 Td (reported ) Tj ET Q q 0 0 0 rg BT 497.28 542.60 Td (net ) Tj ET Q q 0 0 0 rg BT 509.10 542.60 Td (revenues ) Tj ET Q q 0 0 0 rg BT 539.57 542.60 Td (of ) Tj ET Q q 0 0 0 rg BT 548.28 542.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 533.00 Td (178.6 ) Tj ET Q q 0 0 0 rg BT 69.16 533.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 92.28 533.00 Td ( ) Tj ET Q q 0 0 0 rg BT 93.94 533.00 Td (for ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 104.93 533.00 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 120.93 533.00 Td ( ) Tj ET Q q 0 0 0 rg BT 122.59 533.00 Td (compared ) Tj ET Q q 0 0 0 rg BT 155.79 533.00 Td (to ) Tj ET Q q 0 0 0 rg BT 163.68 533.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 179.56 533.00 Td (162.3 ) Tj ET Q q 0 0 0 rg BT 199.23 533.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 222.34 533.00 Td ( ) Tj ET Q q 0 0 0 rg BT 224.00 533.00 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.89 533.00 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 247.89 533.00 Td (, ) Tj ET Q q 0 0 0 rg BT 251.55 533.00 Td (an ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.76 533.00 Td (increase) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 286.96 533.00 Td ( ) Tj ET Q q 0 0 0 rg BT 288.63 533.00 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.95 533.00 Td (10%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.62 533.00 Td ( ) Tj ET Q q 0 0 0 rg BT 313.28 533.00 Td (on ) Tj ET Q q 0 0 0 rg BT 322.94 533.00 Td (an ) Tj ET Q q 0 0 0 rg BT 332.15 533.00 Td (actual ) Tj ET Q q 0 0 0 rg BT 352.91 533.00 Td (basis, ) Tj ET Q q 0 0 0 rg BT 372.58 533.00 Td (or ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.90 533.00 Td (1) Tj ET Q q 0 0 0 rg BT 384.61 533.00 Td (1%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 395.27 533.00 Td ( ) Tj ET Q q 0 0 0 rg BT 396.93 533.00 Td (on ) Tj ET Q q 0 0 0 rg BT 406.59 533.00 Td (a ) Tj ET Q q 0 0 0 rg BT 411.81 533.00 Td (constant ) Tj ET Q q 0 0 0 rg BT 440.13 533.00 Td (currency ) Tj ET Q q 0 0 0 rg BT 469.77 533.00 Td (basis. ) Tj ET Q q 0 0 0 rg BT 489.43 533.00 Td (Net ) Tj ET Q q 0 0 0 rg BT 502.65 533.00 Td (revenues ) Tj ET Q q 0 0 0 rg BT 532.74 533.00 Td (benefited ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 523.40 Td (primarily ) Tj ET Q q 0 0 0 rg BT 81.12 523.40 Td (from ) Tj ET Q q 0 0 0 rg BT 98.52 523.40 Td (an ) Tj ET Q q 0 0 0 rg BT 107.93 523.40 Td (increase ) Tj ET Q q 0 0 0 rg BT 135.98 523.40 Td (in ) Tj ET Q q 0 0 0 rg BT 144.05 523.40 Td (carriage ) Tj ET Q q 0 0 0 rg BT 171.66 523.40 Td (fees ) Tj ET Q q 0 0 0 rg BT 186.39 523.40 Td (and ) Tj ET Q q 0 0 0 rg BT 199.79 523.40 Td (subscription ) Tj ET Q q 0 0 0 rg BT 240.75 523.40 Td (revenues ) Tj ET Q q 0 0 0 rg BT 271.04 523.40 Td (following ) Tj ET Q q 0 0 0 rg BT 304.00 523.40 Td (the ) Tj ET Q q 0 0 0 rg BT 315.62 523.40 Td (successful ) Tj ET Q q 0 0 0 rg BT 350.35 523.40 Td (negotiation ) Tj ET Q q 0 0 0 rg BT 388.20 523.40 Td (of ) Tj ET Q q 0 0 0 rg BT 396.71 523.40 Td (contracts ) Tj ET Q q 0 0 0 rg BT 427.44 523.40 Td (with ) Tj ET Q q 0 0 0 rg BT 443.51 523.40 Td (all ) Tj ET Q q 0 0 0 rg BT 453.36 523.40 Td (major ) Tj ET Q q 0 0 0 rg BT 473.87 523.40 Td (cable ) Tj ET Q q 0 0 0 rg BT 492.60 523.40 Td (and ) Tj ET Q q 0 0 0 rg BT 506.00 523.40 Td (satellite ) Tj ET Q q 0 0 0 rg BT 532.73 523.40 Td (operators ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 513.80 Td (in ) Tj ET Q q 0 0 0 rg BT 56.99 513.80 Td (Romania ) Tj ET Q q 0 0 0 rg BT 87.14 513.80 Td (during ) Tj ET Q q 0 0 0 rg BT 109.29 513.80 Td (2013. ) Tj ET Q q 0 0 0 rg BT 128.47 513.80 Td (T) Tj ET Q q 0 0 0 rg BT 132.80 513.80 Td (elevision ) Tj ET Q q 0 0 0 rg BT 162.95 513.80 Td (advertising ) Tj ET Q q 0 0 0 rg BT 199.76 513.80 Td (revenues ) Tj ET Q q 0 0 0 rg BT 229.46 513.80 Td (increased ) Tj ET Q q 0 0 0 rg BT 260.93 513.80 Td (due ) Tj ET Q q 0 0 0 rg BT 273.75 513.80 Td (to ) Tj ET Q q 0 0 0 rg BT 281.24 513.80 Td (an ) Tj ET Q q 0 0 0 rg BT 290.06 513.80 Td (increase ) Tj ET Q q 0 0 0 rg BT 317.53 513.80 Td (in ) Tj ET Q q 0 0 0 rg BT 325.02 513.80 Td (GRPs ) Tj ET Q q 0 0 0 rg BT 344.96 513.80 Td (sold. ) Tj ET Q q 0 0 0 rg BT 361.47 513.80 Td (The ) Tj ET Q q 0 0 0 rg BT 375.18 513.80 Td (decrease ) Tj ET Q q 0 0 0 rg BT 403.98 513.80 Td (in ) Tj ET Q q 0 0 0 rg BT 411.47 513.80 Td (other ) Tj ET Q q 0 0 0 rg BT 429.17 513.80 Td (revenues ) Tj ET Q q 0 0 0 rg BT 458.87 513.80 Td (was ) Tj ET Q q 0 0 0 rg BT 472.58 513.80 Td (due ) Tj ET Q q 0 0 0 rg BT 485.40 513.80 Td (primarily ) Tj ET Q q 0 0 0 rg BT 516.44 513.80 Td (to ) Tj ET Q q 0 0 0 rg BT 523.93 513.80 Td (a ) Tj ET Q q 0 0 0 rg BT 528.74 513.80 Td (significant ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 504.20 Td (decrease ) Tj ET Q q 0 0 0 rg BT 79.06 504.20 Td (in ) Tj ET Q q 0 0 0 rg BT 87.32 504.20 Td (the ) Tj ET Q q 0 0 0 rg BT 99.13 504.20 Td (amount ) Tj ET Q q 0 0 0 rg BT 125.16 504.20 Td (of ) Tj ET Q q 0 0 0 rg BT 133.85 504.20 Td (commercials ) Tj ET Q q 0 0 0 rg BT 176.76 504.20 Td (produced ) Tj ET Q q 0 0 0 rg BT 208.56 504.20 Td (for ) Tj ET Q q 0 0 0 rg BT 219.92 504.20 Td (third ) Tj ET Q q 0 0 0 rg BT 237.06 504.20 Td (parties, ) Tj ET Q q 0 0 0 rg BT 262.42 504.20 Td (which ) Tj ET Q q 0 0 0 rg BT 284.00 504.20 Td (is ) Tj ET Q q 0 0 0 rg BT 291.37 504.20 Td (not ) Tj ET Q q 0 0 0 rg BT 303.63 504.20 Td (expected ) Tj ET Q q 0 0 0 rg BT 334.09 504.20 Td (to ) Tj ET Q q 0 0 0 rg BT 342.34 504.20 Td (return ) Tj ET Q q 0 0 0 rg BT 363.48 504.20 Td (to ) Tj ET Q q 0 0 0 rg BT 371.73 504.20 Td (previous ) Tj ET Q q 0 0 0 rg BT 401.32 504.20 Td (volumes. ) Tj ET Q q 0 0 0 rg BT 432.31 504.20 Td (The ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.78 504.20 Td (3%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 457.45 504.20 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 459.48 504.20 Td (increase) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 485.68 504.20 Td ( ) Tj ET Q q 0 0 0 rg BT 487.72 504.20 Td (in ) Tj ET Q q 0 0 0 rg BT 495.97 504.20 Td (net ) Tj ET Q q 0 0 0 rg BT 507.78 504.20 Td (revenues ) Tj ET Q q 0 0 0 rg BT 538.24 504.20 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.50 504.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 562.50 504.20 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 494.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 82.58 494.60 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 90.34 494.60 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.34 494.60 Td ( ) Tj ET Q q 0 0 0 rg BT 107.88 494.60 Td (on ) Tj ET Q q 0 0 0 rg BT 117.43 494.60 Td (a ) Tj ET Q q 0 0 0 rg BT 122.52 494.60 Td (constant ) Tj ET Q q 0 0 0 rg BT 150.72 494.60 Td (currency ) Tj ET Q q 0 0 0 rg BT 180.24 494.60 Td (basis ) Tj ET Q q 0 0 0 rg BT 197.78 494.60 Td (resulted ) Tj ET Q q 0 0 0 rg BT 224.65 494.60 Td (from ) Tj ET Q q 0 0 0 rg BT 241.74 494.60 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 246.83 494.60 Td (2%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 257.49 494.60 Td ( ) Tj ET Q q 0 0 0 rg BT 259.04 494.60 Td (increase ) Tj ET Q q 0 0 0 rg BT 286.78 494.60 Td (in ) Tj ET Q q 0 0 0 rg BT 294.54 494.60 Td (television ) Tj ET Q q 0 0 0 rg BT 327.19 494.60 Td (advertising ) Tj ET Q q 0 0 0 rg BT 364.28 494.60 Td (revenues ) Tj ET Q q 0 0 0 rg BT 394.25 494.60 Td (at ) Tj ET Q q 0 0 0 rg BT 401.56 494.60 Td (constant ) Tj ET Q q 0 0 0 rg BT 429.76 494.60 Td (currencies, ) Tj ET Q q 0 0 0 rg BT 466.17 494.60 Td (because ) Tj ET Q q 0 0 0 rg BT 493.03 494.60 Td (an ) Tj ET Q q 0 0 0 rg BT 502.12 494.60 Td (increase ) Tj ET Q q 0 0 0 rg BT 529.87 494.60 Td (in ) Tj ET Q q 0 0 0 rg BT 537.63 494.60 Td (average ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 485.00 Td (advertising ) Tj ET Q q 0 0 0 rg BT 86.53 485.00 Td (prices ) Tj ET Q q 0 0 0 rg BT 107.12 485.00 Td (realized, ) Tj ET Q q 0 0 0 rg BT 135.92 485.00 Td (due ) Tj ET Q q 0 0 0 rg BT 148.95 485.00 Td (to ) Tj ET Q q 0 0 0 rg BT 156.66 485.00 Td (lower ) Tj ET Q q 0 0 0 rg BT 176.36 485.00 Td (agency ) Tj ET Q q 0 0 0 rg BT 200.50 485.00 Td (volume ) Tj ET Q q 0 0 0 rg BT 225.98 485.00 Td (bonuses, ) Tj ET Q q 0 0 0 rg BT 255.24 485.00 Td (more ) Tj ET Q q 0 0 0 rg BT 273.17 485.00 Td (than ) Tj ET Q q 0 0 0 rg BT 288.42 485.00 Td (of) Tj ET Q q 0 0 0 rg BT 294.94 485.00 Td (fset ) Tj ET Q q 0 0 0 rg BT 307.98 485.00 Td (a ) Tj ET Q q 0 0 0 rg BT 313.02 485.00 Td (decrease ) Tj ET Q q 0 0 0 rg BT 342.03 485.00 Td (in ) Tj ET Q q 0 0 0 rg BT 349.74 485.00 Td (GRPs ) Tj ET Q q 0 0 0 rg BT 369.90 485.00 Td (sold. ) Tj ET Q q 0 0 0 rg BT 386.72 485.00 Td (Net ) Tj ET Q q 0 0 0 rg BT 399.76 485.00 Td (revenues ) Tj ET Q q 0 0 0 rg BT 429.67 485.00 Td (also ) Tj ET Q q 0 0 0 rg BT 444.05 485.00 Td (benefited ) Tj ET Q q 0 0 0 rg BT 475.29 485.00 Td (from ) Tj ET Q q 0 0 0 rg BT 492.33 485.00 Td (an ) Tj ET Q q 0 0 0 rg BT 501.37 485.00 Td (increase ) Tj ET Q q 0 0 0 rg BT 529.05 485.00 Td (in ) Tj ET Q q 0 0 0 rg BT 536.76 485.00 Td (carriage ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 475.40 Td (fees. ) Tj ET Q q 0 0 0 rg BT 66.67 475.40 Td (The ) Tj ET Q q 0 0 0 rg BT 81.58 475.40 Td (results ) Tj ET Q q 0 0 0 rg BT 104.95 475.40 Td (for ) Tj ET Q q 0 0 0 rg BT 116.75 475.40 Td (our ) Tj ET Q q 0 0 0 rg BT 129.88 475.40 Td (radio, ) Tj ET Q q 0 0 0 rg BT 150.80 475.40 Td (studio, ) Tj ET Q q 0 0 0 rg BT 174.83 475.40 Td (cinema, ) Tj ET Q q 0 0 0 rg BT 202.40 475.40 Td (music ) Tj ET Q q 0 0 0 rg BT 223.98 475.40 Td (and ) Tj ET Q q 0 0 0 rg BT 238.01 475.40 Td (home ) Tj ET Q q 0 0 0 rg BT 258.25 475.40 Td (video ) Tj ET Q q 0 0 0 rg BT 278.50 475.40 Td (and ) Tj ET Q q 0 0 0 rg BT 292.53 475.40 Td (remaining ) Tj ET Q q 0 0 0 rg BT 327.43 475.40 Td (distribution ) Tj ET Q q 0 0 0 rg BT 366.80 475.40 Td (businesses ) Tj ET Q q 0 0 0 rg BT 403.05 475.40 Td (are ) Tj ET Q q 0 0 0 rg BT 415.29 475.40 Td (not ) Tj ET Q q 0 0 0 rg BT 427.98 475.40 Td (included ) Tj ET Q q 0 0 0 rg BT 458.00 475.40 Td (in ) Tj ET Q q 0 0 0 rg BT 466.70 475.40 Td (segment ) Tj ET Q q 0 0 0 rg BT 495.83 475.40 Td (performance ) Tj ET Q q 0 0 0 rg BT 538.73 475.40 Td (and ) Tj ET Q q 0 0 0 rg BT 552.75 475.40 Td (are ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 465.80 Td (presented ) Tj ET Q q 0 0 0 rg BT 82.15 465.80 Td (as ) Tj ET Q q 0 0 0 rg BT 90.82 465.80 Td (discontinued ) Tj ET Q q 0 0 0 rg BT 133.70 465.80 Td (operations ) Tj ET Q q 0 0 0 rg BT 169.02 465.80 Td (for ) Tj ET Q q 0 0 0 rg BT 180.35 465.80 Td (all ) Tj ET Q q 0 0 0 rg BT 190.35 465.80 Td (periods. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 450.20 Td (Costs ) Tj ET Q q 0 0 0 rg BT 68.98 450.20 Td (char) Tj ET Q q 0 0 0 rg BT 82.60 450.20 Td (ged ) Tj ET Q q 0 0 0 rg BT 95.84 450.20 Td (in ) Tj ET Q q 0 0 0 rg BT 103.76 450.20 Td (arriving ) Tj ET Q q 0 0 0 rg BT 130.78 450.20 Td (at ) Tj ET Q q 0 0 0 rg BT 138.24 450.20 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 163.13 450.20 Td ( ) Tj ET Q q 0 0 0 rg BT 164.83 450.20 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 172.74 450.20 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 188.74 450.20 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 190.44 450.20 Td (decreased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.97 450.20 Td ( ) Tj ET Q q 0 0 0 rg BT 223.66 450.20 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 233.36 450.20 Td (12%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 248.02 450.20 Td ( ) Tj ET Q q 0 0 0 rg BT 249.71 450.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 282.95 450.20 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 290.86 450.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.86 450.20 Td (. ) Tj ET Q q 0 0 0 rg BT 310.55 450.20 Td (On ) Tj ET Q q 0 0 0 rg BT 322.03 450.20 Td (a ) Tj ET Q q 0 0 0 rg BT 327.27 450.20 Td (constant ) Tj ET Q q 0 0 0 rg BT 355.62 450.20 Td (currency ) Tj ET Q q 0 0 0 rg BT 385.30 450.20 Td (basis ) Tj ET Q q 0 0 0 rg BT 402.99 450.20 Td (costs ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.68 450.20 Td (decreased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.21 450.20 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.91 450.20 Td (10%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.57 450.20 Td ( ) Tj ET Q q 0 0 0 rg BT 470.27 450.20 Td (reflecting ) Tj ET Q q 0 0 0 rg BT 502.61 450.20 Td (significantly ) Tj ET Q q 0 0 0 rg BT 544.29 450.20 Td (lower ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 440.60 Td (programming ) Tj ET Q q 0 0 0 rg BT 94.62 440.60 Td (impairment, ) Tj ET Q q 0 0 0 rg BT 135.07 440.60 Td (which ) Tj ET Q q 0 0 0 rg BT 156.20 440.60 Td (was ) Tj ET Q q 0 0 0 rg BT 170.21 440.60 Td (partially ) Tj ET Q q 0 0 0 rg BT 198.45 440.60 Td (of) Tj ET Q q 0 0 0 rg BT 204.96 440.60 Td (fset ) Tj ET Q q 0 0 0 rg BT 218.09 440.60 Td (by ) Tj ET Q q 0 0 0 rg BT 227.66 440.60 Td (an ) Tj ET Q q 0 0 0 rg BT 236.79 440.60 Td (increase ) Tj ET Q q 0 0 0 rg BT 264.57 440.60 Td (in ) Tj ET Q q 0 0 0 rg BT 272.36 440.60 Td (programming ) Tj ET Q q 0 0 0 rg BT 317.48 440.60 Td (and ) Tj ET Q q 0 0 0 rg BT 330.61 440.60 Td (local ) Tj ET Q q 0 0 0 rg BT 347.73 440.60 Td (production ) Tj ET Q q 0 0 0 rg BT 383.96 440.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 401.54 440.60 Td (in ) Tj ET Q q 0 0 0 rg BT 409.34 440.60 Td (response ) Tj ET Q q 0 0 0 rg BT 438.90 440.60 Td (to ) Tj ET Q q 0 0 0 rg BT 446.70 440.60 Td (increased ) Tj ET Q q 0 0 0 rg BT 478.48 440.60 Td (investment ) Tj ET Q q 0 0 0 rg BT 515.16 440.60 Td (by ) Tj ET Q q 0 0 0 rg BT 524.73 440.60 Td (competitors ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 431.00 Td (as ) Tj ET Q q 0 0 0 rg BT 58.56 431.00 Td (well ) Tj ET Q q 0 0 0 rg BT 74.74 431.00 Td (as ) Tj ET Q q 0 0 0 rg BT 83.80 431.00 Td (higher ) Tj ET Q q 0 0 0 rg BT 106.64 431.00 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 149.92 431.00 Td (char) Tj ET Q q 0 0 0 rg BT 163.54 431.00 Td (ges. ) Tj ET Q q 0 0 0 rg BT 178.43 431.00 Td (The ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 193.27 431.00 Td (12%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 207.93 431.00 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 210.33 431.00 Td (increase) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 236.53 431.00 Td ( ) Tj ET Q q 0 0 0 rg BT 238.93 431.00 Td (in ) Tj ET Q q 0 0 0 rg BT 247.56 431.00 Td (costs ) Tj ET Q q 0 0 0 rg BT 265.96 431.00 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.58 431.00 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 290.58 431.00 Td ( ) Tj ET Q q 0 0 0 rg BT 292.98 431.00 Td (compared ) Tj ET Q q 0 0 0 rg BT 326.92 431.00 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 335.54 431.00 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.54 431.00 Td ( ) Tj ET Q q 0 0 0 rg BT 353.94 431.00 Td (on ) Tj ET Q q 0 0 0 rg BT 364.34 431.00 Td (a ) Tj ET Q q 0 0 0 rg BT 370.30 431.00 Td (constant ) Tj ET Q q 0 0 0 rg BT 399.36 431.00 Td (currency ) Tj ET Q q 0 0 0 rg BT 429.74 431.00 Td (basis ) Tj ET Q q 0 0 0 rg BT 448.14 431.00 Td (was ) Tj ET Q q 0 0 0 rg BT 462.98 431.00 Td (due ) Tj ET Q q 0 0 0 rg BT 476.93 431.00 Td (primarily ) Tj ET Q q 0 0 0 rg BT 509.10 431.00 Td (to ) Tj ET Q q 0 0 0 rg BT 517.72 431.00 Td (an ) Tj ET Q q 0 0 0 rg BT 527.67 431.00 Td (increase ) Tj ET Q q 0 0 0 rg BT 556.28 431.00 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 421.40 Td (content ) Tj ET Q q 0 0 0 rg BT 75.05 421.40 Td (costs ) Tj ET Q q 0 0 0 rg BT 93.05 421.40 Td (due ) Tj ET Q q 0 0 0 rg BT 106.60 421.40 Td (to ) Tj ET Q q 0 0 0 rg BT 114.82 421.40 Td (the ) Tj ET Q q 0 0 0 rg BT 126.59 421.40 Td (impairment ) Tj ET Q q 0 0 0 rg BT 165.47 421.40 Td (of ) Tj ET Q q 0 0 0 rg BT 174.14 421.40 Td (program ) Tj ET Q q 0 0 0 rg BT 203.24 421.40 Td (rights ) Tj ET Q q 0 0 0 rg BT 223.46 421.40 Td (and ) Tj ET Q q 0 0 0 rg BT 237.01 421.40 Td (local ) Tj ET Q q 0 0 0 rg BT 254.56 421.40 Td (productions ) Tj ET Q q 0 0 0 rg BT 294.33 421.40 Td (which ) Tj ET Q q 0 0 0 rg BT 315.88 421.40 Td (could ) Tj ET Q q 0 0 0 rg BT 335.66 421.40 Td (not ) Tj ET Q q 0 0 0 rg BT 347.88 421.40 Td (be ) Tj ET Q q 0 0 0 rg BT 357.43 421.40 Td (profitably ) Tj ET Q q 0 0 0 rg BT 390.98 421.40 Td (exploited.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 405.80 Td (Costs ) Tj ET Q q 0 0 0 rg BT 69.52 405.80 Td (char) Tj ET Q q 0 0 0 rg BT 83.14 405.80 Td (ged ) Tj ET Q q 0 0 0 rg BT 96.92 405.80 Td (in ) Tj ET Q q 0 0 0 rg BT 105.38 405.80 Td (arriving ) Tj ET Q q 0 0 0 rg BT 132.94 405.80 Td (at ) Tj ET Q q 0 0 0 rg BT 140.94 405.80 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 165.83 405.80 Td ( ) Tj ET Q q 0 0 0 rg BT 168.07 405.80 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 191.19 405.80 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 207.19 405.80 Td ( ) Tj ET Q q 0 0 0 rg BT 209.42 405.80 Td (exclude ) Tj ET Q q 0 0 0 rg BT 236.53 405.80 Td (a ) Tj ET Q q 0 0 0 rg BT 242.31 405.80 Td (char) Tj ET Q q 0 0 0 rg BT 255.94 405.80 Td (ge ) Tj ET Q q 0 0 0 rg BT 265.72 405.80 Td (of ) Tj ET Q q 0 0 0 rg BT 274.62 405.80 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.08 405.80 Td (12.0 ) Tj ET Q q 0 0 0 rg BT 307.31 405.80 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.42 405.80 Td ( ) Tj ET Q q 0 0 0 rg BT 332.66 405.80 Td (which ) Tj ET Q q 0 0 0 rg BT 354.44 405.80 Td (we ) Tj ET Q q 0 0 0 rg BT 366.00 405.80 Td (recorded ) Tj ET Q q 0 0 0 rg BT 396.22 405.80 Td (in ) Tj ET Q q 0 0 0 rg BT 404.67 405.80 Td (the ) Tj ET Q q 0 0 0 rg BT 416.68 405.80 Td (fourth ) Tj ET Q q 0 0 0 rg BT 438.46 405.80 Td (quarter ) Tj ET Q q 0 0 0 rg BT 463.35 405.80 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.25 405.80 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.25 405.80 Td ( ) Tj ET Q q 0 0 0 rg BT 490.48 405.80 Td (related ) Tj ET Q q 0 0 0 rg BT 514.48 405.80 Td (to ) Tj ET Q q 0 0 0 rg BT 522.93 405.80 Td (tax ) Tj ET Q q 0 0 0 rg BT 534.94 405.80 Td (audits ) Tj ET Q q 0 0 0 rg BT 556.28 405.80 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 396.20 Td (Romania ) Tj ET Q q 0 0 0 rg BT 81.31 396.20 Td (\(see ) Tj ET Q q 0 0 0 rg BT 97.11 396.20 Td (Item ) Tj ET Q q 0 0 0 rg BT 114.70 396.20 Td (8, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 123.62 396.20 Td (Note ) Tj ET Q q 0 0 0 rg BT 142.10 396.20 Td (21, ) Tj ET Q q 0 0 0 rg BT 155.02 396.20 Td ("Commitments ) Tj ET Q q 0 0 0 rg BT 206.55 396.20 Td (and ) Tj ET Q q 0 0 0 rg BT 221.02 396.20 Td (Contingencies") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 270.06 396.20 Td (\). ) Tj ET Q q 0 0 0 rg BT 277.44 396.20 Td (The ) Tj ET Q q 0 0 0 rg BT 292.80 396.20 Td (cost ) Tj ET Q q 0 0 0 rg BT 308.61 396.20 Td (is ) Tj ET Q q 0 0 0 rg BT 316.87 396.20 Td (not ) Tj ET Q q 0 0 0 rg BT 330.02 396.20 Td (considered ) Tj ET Q q 0 0 0 rg BT 367.60 396.20 Td (by ) Tj ET Q q 0 0 0 rg BT 378.52 396.20 Td (our ) Tj ET Q q 0 0 0 rg BT 392.11 396.20 Td (chief ) Tj ET Q q 0 0 0 rg BT 411.02 396.20 Td (operating ) Tj ET Q q 0 0 0 rg BT 444.16 396.20 Td (decision ) Tj ET Q q 0 0 0 rg BT 473.74 396.20 Td (makers ) Tj ET Q q 0 0 0 rg BT 499.77 396.20 Td (when ) Tj ET Q q 0 0 0 rg BT 520.02 396.20 Td (assessing ) Tj ET Q q 0 0 0 rg BT 552.72 396.20 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 386.60 Td (performance ) Tj ET Q q 0 0 0 rg BT 91.92 386.60 Td (of ) Tj ET Q q 0 0 0 rg BT 100.58 386.60 Td (our ) Tj ET Q q 0 0 0 rg BT 113.25 386.60 Td (Romania ) Tj ET Q q 0 0 0 rg BT 144.13 386.60 Td (segment.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 371.00 Td (Our ) Tj ET Q q 0 0 0 rg BT 63.84 371.00 Td (Romania ) Tj ET Q q 0 0 0 rg BT 94.62 371.00 Td (segment ) Tj ET Q q 0 0 0 rg BT 123.17 371.00 Td (generated ) Tj ET Q q 0 0 0 rg BT 156.16 371.00 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 181.05 371.00 Td ( ) Tj ET Q q 0 0 0 rg BT 182.94 371.00 Td (of ) Tj ET Q q 0 0 0 rg BT 191.50 371.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 207.62 371.00 Td (37.3 ) Tj ET Q q 0 0 0 rg BT 223.52 371.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 246.63 371.00 Td ( ) Tj ET Q q 0 0 0 rg BT 248.53 371.00 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 256.65 371.00 Td (2014) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 0 0 rg BT 272.65 371.00 Td ( ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 274.54 371.00 Td (compared ) Tj ET Q q 0 0 0 rg BT 307.98 371.00 Td (to ) Tj ET Q q 0 0 0 rg BT 316.09 371.00 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 340.99 371.00 Td ( ) Tj ET Q q 0 0 0 rg BT 342.88 371.00 Td (of ) Tj ET Q q 0 0 0 rg BT 351.44 371.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.56 371.00 Td (2.5 ) Tj ET Q q 0 0 0 rg BT 379.46 371.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.57 371.00 Td ( ) Tj ET Q q 0 0 0 rg BT 404.47 371.00 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.58 371.00 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.58 371.00 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.48 371.00 Td (an ) Tj ET Q q 0 0 0 rg BT 441.93 371.00 Td (increase) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.13 371.00 Td ( ) Tj ET Q q 0 0 0 rg BT 470.03 371.00 Td (of ) Tj ET Q q 0 0 0 rg BT 478.58 371.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.71 371.00 Td (34.8 ) Tj ET Q q 0 0 0 rg BT 510.60 371.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.72 371.00 Td (. ) Tj ET Q q 0 0 0 rg BT 537.61 371.00 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 562.50 371.00 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 361.40 Td (decreased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.03 361.40 Td ( ) Tj ET Q q 0 0 0 rg BT 83.03 361.40 Td (by ) Tj ET Q q 0 0 0 rg BT 93.03 361.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 109.26 361.40 Td (12.9 ) Tj ET Q q 0 0 0 rg BT 125.26 361.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 148.37 361.40 Td ( ) Tj ET Q q 0 0 0 rg BT 150.37 361.40 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 158.59 361.40 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 174.59 361.40 Td ( ) Tj ET Q q 0 0 0 rg BT 176.59 361.40 Td (compared ) Tj ET Q q 0 0 0 rg BT 210.13 361.40 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 218.36 361.40 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 234.36 361.40 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 342.80 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 74.62 342.80 Td (Republic) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 287.30 111.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 287.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 287.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 287.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 287.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 287.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 287.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 287.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 287.30 9.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 287.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 287.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 287.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 287.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 287.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 287.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 287.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 257.30 111.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 257.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 257.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 257.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 257.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 257.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 257.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 257.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 257.30 9.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 257.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 257.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 257.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 257.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 257.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 257.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 257.30 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 227.30 111.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 227.30 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 227.30 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 227.30 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 227.30 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 227.30 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 227.30 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 227.30 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 227.30 9.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 227.30 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 227.30 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 227.30 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 227.30 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 227.30 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 227.30 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 227.30 46.00 -21.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 317.29999999999995 m 206.5 317.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 206.5 317.29999999999995 m 210.5 317.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 317.29999999999995 m 256.5 317.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 317.29999999999995 m 260.5 317.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 317.29999999999995 m 306.5 317.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 317.29999999999995 m 310.5 317.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 317.29999999999995 m 356.5 317.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 317.29999999999995 m 365.5 317.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 317.29999999999995 m 411.5 317.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 317.29999999999995 m 415.5 317.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 317.29999999999995 m 461.5 317.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 317.29999999999995 m 465.5 317.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 317.29999999999995 m 511.5 317.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 317.29999999999995 m 515.5 317.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 317.29999999999995 m 561.5 317.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 317.29999999999995 m 206.5 317.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 302.29999999999995 m 306.5 302.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 302.29999999999995 m 310.5 302.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 302.29999999999995 m 356.5 302.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 317.29999999999995 m 511.5 317.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 302.29999999999995 m 511.5 302.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 317.29999999999995 m 515.5 317.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 302.29999999999995 m 515.5 302.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 317.29999999999995 m 561.5 317.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 302.29999999999995 m 561.5 302.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 287.29999999999995 m 206.5 287.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 287.29999999999995 m 256.5 287.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 287.29999999999995 m 306.5 287.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 287.29999999999995 m 411.5 287.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 287.29999999999995 m 461.5 287.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 287.29999999999995 m 511.5 287.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 287.29999999999995 m 206.5 287.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 287.29999999999995 m 256.5 287.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 287.29999999999995 m 356.5 287.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 287.29999999999995 m 461.5 287.29999999999995 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 287.29999999999995 m 561.5 287.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 242.29999999999995 m 461.5 242.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 242.29999999999995 m 206.5 242.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 242.29999999999995 m 256.5 242.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 242.29999999999995 m 411.5 242.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 242.29999999999995 m 461.5 242.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 206.29999999999995 m 206.5 206.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 206.29999999999995 m 256.5 206.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 206.29999999999995 m 206.5 206.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 192.29999999999995 m 206.5 192.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 190.29999999999995 m 206.5 190.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 206.29999999999995 m 256.5 206.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 192.29999999999995 m 256.5 192.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 190.29999999999995 m 256.5 190.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 206.29999999999995 m 411.5 206.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 192.29999999999995 m 411.5 192.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 190.29999999999995 m 411.5 190.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 206.29999999999995 m 461.5 206.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 192.29999999999995 m 461.5 192.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 190.29999999999995 m 461.5 190.29999999999995 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 321.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 281.05 321.53 Td (For the Year Ending December 31, \(US$ 000's\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 306.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 163.00 306.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 213.00 306.55 Td () Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 290.65 306.53 Td (Movement) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 495.65 306.53 Td (Movement) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 291.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 187.00 291.53 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 237.00 291.53 Td (2013) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 283.50 291.53 Td (% Act) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 334.55 291.53 Td (% Lfl) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 392.00 291.53 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.00 291.53 Td (2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.40 291.53 Td (% Act) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 537.75 291.53 Td (% Lfl) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 276.55 Td (T) Tj ET Q q 0 0 0 rg BT 56.61 276.55 Td (elevision ) Tj ET Q q 0 0 0 rg BT 87.21 276.55 Td (advertising) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 163.00 276.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.25 276.55 Td (85,355) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 213.00 276.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.25 276.55 Td (78,228) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 286.65 276.55 Td (9.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 299.30 276.55 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 332.65 276.55 Td (10.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.25 276.55 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.00 276.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.25 276.55 Td (78,228) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 276.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.25 276.55 Td (87,833) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 484.95 276.55 Td (\(10.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 501.65 276.55 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 534.95 276.55 Td (\(13.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 551.65 276.55 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 261.55 Td (Carriage fees and subscriptions) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 191.30 261.55 Td (980) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.25 261.55 Td (1,106) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 279.95 261.55 Td (\(11.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 296.65 261.55 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 329.95 261.55 Td (\(11.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.65 261.55 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.25 261.55 Td (1,106) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.30 261.55 Td (571) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.65 261.55 Td (93.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 504.30 261.55 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 537.65 261.55 Td (87.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.30 261.55 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 246.55 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 185.25 246.55 Td (4,221) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.25 246.55 Td (3,070) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 282.65 246.55 Td (37.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 299.30 246.55 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 332.65 246.55 Td (36.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.25 246.55 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.25 246.55 Td (3,070) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.25 246.55 Td (7,770) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 484.95 246.55 Td (\(60.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 501.65 246.55 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 534.95 246.55 Td (\(61.8) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 551.65 246.55 Td (\)%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 231.53 Td (Net ) Tj ET Q q 0 0 0 rg BT 65.99 231.53 Td (r) Tj ET Q q 0 0 0 rg BT 69.47 231.53 Td (evenues) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 181.25 231.53 Td (90,556) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 231.25 231.53 Td (82,404) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 286.65 231.53 Td (9.9) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 299.30 231.53 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 332.65 231.53 Td (11.0) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 349.25 231.53 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 386.25 231.53 Td (82,404) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.25 231.53 Td (96,174) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 484.95 231.53 Td (\(14.3) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 501.65 231.53 Td (\)%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 534.95 231.53 Td (\(16.6) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 551.65 231.53 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 218.55 Td (Costs ) Tj ET Q q 0 0 0 rg BT 75.97 218.55 Td (char) Tj ET Q q 0 0 0 rg BT 89.59 218.55 Td (ged ) Tj ET Q q 0 0 0 rg BT 107.32 218.55 Td (in ) Tj ET Q q 0 0 0 rg BT 119.72 218.55 Td (arriving ) Tj ET Q q 0 0 0 rg BT 151.23 218.55 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 210.55 Td (OIBDA) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.25 210.55 Td (85,970) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 227.25 210.55 Td (102,263) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 279.95 210.55 Td (\(15.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 296.65 210.55 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 329.95 210.55 Td (\(14.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.65 210.55 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.25 210.55 Td (102,263) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.25 210.55 Td (87,570) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.65 210.55 Td (16.8) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 504.30 210.55 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 537.65 210.55 Td (13.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.30 210.55 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 195.53 Td (OIBDA) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 163.00 195.53 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 185.25 195.53 Td (4,586) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 213.00 195.53 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 228.60 195.53 Td (\(19,859) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 253.30 195.53 Td (\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 282.00 195.53 Td (NM ) Tj ET Q BT /F4 8.00 Tf ET BT /F4 5.20 Tf ET q 0 0 0 rg BT 296.89 199.16 Td (\(1\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 332.00 195.53 Td (NM ) Tj ET Q BT /F4 8.00 Tf ET BT /F4 5.20 Tf ET q 0 0 0 rg BT 346.89 199.16 Td (\(1\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 368.00 195.53 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 383.60 195.53 Td (\(19,859) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.30 195.53 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.00 195.53 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.25 195.53 Td (8,604) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 487.00 195.53 Td (NM ) Tj ET Q BT /F4 8.00 Tf ET BT /F4 5.20 Tf ET q 0 0 0 rg BT 501.89 199.16 Td (\(1\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 537.00 195.53 Td (NM ) Tj ET Q BT /F4 8.00 Tf ET BT /F4 5.20 Tf ET q 0 0 0 rg BT 551.89 199.16 Td (\(1\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 183.40 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 85.50 183.40 Td (Number is not meaningful.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 167.80 Td (T) Tj ET Q q 0 0 0 rg BT 53.83 167.80 Td (elevision ) Tj ET Q q 0 0 0 rg BT 84.76 167.80 Td (advertising ) Tj ET Q q 0 0 0 rg BT 122.35 167.80 Td (spending ) Tj ET Q q 0 0 0 rg BT 153.29 167.80 Td (in ) Tj ET Q q 0 0 0 rg BT 161.55 167.80 Td (the ) Tj ET Q q 0 0 0 rg BT 173.38 167.80 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 197.64 167.80 Td (Republic ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 228.57 167.80 Td (increased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 258.78 167.80 Td ( ) Tj ET Q q 0 0 0 rg BT 260.82 167.80 Td (an ) Tj ET Q q 0 0 0 rg BT 270.42 167.80 Td (estimated ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 303.13 167.80 Td (4%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.79 167.80 Td ( ) Tj ET Q q 0 0 0 rg BT 315.84 167.80 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 324.11 167.80 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.11 167.80 Td ( ) Tj ET Q q 0 0 0 rg BT 342.15 167.80 Td (compared ) Tj ET Q q 0 0 0 rg BT 375.74 167.80 Td (to ) Tj ET Q q 0 0 0 rg BT 384.01 167.80 Td (the ) Tj ET Q q 0 0 0 rg BT 395.83 167.80 Td (prior ) Tj ET Q q 0 0 0 rg BT 413.43 167.80 Td (year) Tj ET Q q 0 0 0 rg BT 426.75 167.80 Td (. ) Tj ET Q q 0 0 0 rg BT 430.80 167.80 Td (Our ) Tj ET Q q 0 0 0 rg BT 445.29 167.80 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 469.55 167.80 Td (Republic ) Tj ET Q q 0 0 0 rg BT 500.48 167.80 Td (operations ) Tj ET Q q 0 0 0 rg BT 535.86 167.80 Td (reported ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 158.20 Td (net ) Tj ET Q q 0 0 0 rg BT 61.03 158.20 Td (revenues ) Tj ET Q q 0 0 0 rg BT 91.22 158.20 Td (of ) Tj ET Q q 0 0 0 rg BT 99.64 158.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 115.63 158.20 Td (90.6 ) Tj ET Q q 0 0 0 rg BT 131.39 158.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 154.50 158.20 Td ( ) Tj ET Q q 0 0 0 rg BT 156.26 158.20 Td (for ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 167.35 158.20 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 183.35 158.20 Td ( ) Tj ET Q q 0 0 0 rg BT 185.11 158.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 218.40 158.20 Td (to ) Tj ET Q q 0 0 0 rg BT 226.38 158.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 242.37 158.20 Td (82.4 ) Tj ET Q q 0 0 0 rg BT 258.13 158.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 281.24 158.20 Td ( ) Tj ET Q q 0 0 0 rg BT 283.00 158.20 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 290.98 158.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.98 158.20 Td (, ) Tj ET Q q 0 0 0 rg BT 310.74 158.20 Td (an ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 320.05 158.20 Td (increase) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 346.25 158.20 Td ( ) Tj ET Q q 0 0 0 rg BT 348.01 158.20 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.44 158.20 Td (10%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.10 158.20 Td ( ) Tj ET Q q 0 0 0 rg BT 372.86 158.20 Td (on ) Tj ET Q q 0 0 0 rg BT 382.62 158.20 Td (an ) Tj ET Q q 0 0 0 rg BT 391.93 158.20 Td (actual ) Tj ET Q q 0 0 0 rg BT 412.78 158.20 Td (basis, ) Tj ET Q q 0 0 0 rg BT 432.54 158.20 Td (or ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.96 158.20 Td (1) Tj ET Q q 0 0 0 rg BT 444.67 158.20 Td (1%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.33 158.20 Td ( ) Tj ET Q q 0 0 0 rg BT 457.09 158.20 Td (on ) Tj ET Q q 0 0 0 rg BT 466.85 158.20 Td (a ) Tj ET Q q 0 0 0 rg BT 472.16 158.20 Td (constant ) Tj ET Q q 0 0 0 rg BT 500.58 158.20 Td (currency ) Tj ET Q q 0 0 0 rg BT 530.32 158.20 Td (basis. ) Tj ET Q q 0 0 0 rg BT 550.08 158.20 Td (Our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 148.60 Td (television ) Tj ET Q q 0 0 0 rg BT 82.55 148.60 Td (advertising ) Tj ET Q q 0 0 0 rg BT 120.04 148.60 Td (revenues ) Tj ET Q q 0 0 0 rg BT 150.41 148.60 Td (have ) Tj ET Q q 0 0 0 rg BT 167.45 148.60 Td (increased ) Tj ET Q q 0 0 0 rg BT 199.59 148.60 Td (significantly ) Tj ET Q q 0 0 0 rg BT 241.53 148.60 Td (in ) Tj ET Q q 0 0 0 rg BT 249.69 148.60 Td (2014 ) Tj ET Q q 0 0 0 rg BT 267.63 148.60 Td (due ) Tj ET Q q 0 0 0 rg BT 281.13 148.60 Td (to ) Tj ET Q q 0 0 0 rg BT 289.29 148.60 Td (an ) Tj ET Q q 0 0 0 rg BT 298.78 148.60 Td (increase ) Tj ET Q q 0 0 0 rg BT 326.93 148.60 Td (in ) Tj ET Q q 0 0 0 rg BT 335.09 148.60 Td (consumption ) Tj ET Q q 0 0 0 rg BT 378.36 148.60 Td (of ) Tj ET Q q 0 0 0 rg BT 386.97 148.60 Td (advertising ) Tj ET Q q 0 0 0 rg BT 424.46 148.60 Td (on ) Tj ET Q q 0 0 0 rg BT 434.40 148.60 Td (our ) Tj ET Q q 0 0 0 rg BT 447.00 148.60 Td (channels, ) Tj ET Q q 0 0 0 rg BT 478.93 148.60 Td (and ) Tj ET Q q 0 0 0 rg BT 492.43 148.60 Td (the ) Tj ET Q q 0 0 0 rg BT 504.14 148.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 539.85 148.60 Td (growth ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 139.00 Td (in ) Tj ET Q q 0 0 0 rg BT 57.46 139.00 Td (2014 ) Tj ET Q q 0 0 0 rg BT 75.20 139.00 Td (is ) Tj ET Q q 0 0 0 rg BT 82.27 139.00 Td (the ) Tj ET Q q 0 0 0 rg BT 93.78 139.00 Td (result ) Tj ET Q q 0 0 0 rg BT 113.29 139.00 Td (of ) Tj ET Q q 0 0 0 rg BT 121.69 139.00 Td (a ) Tj ET Q q 0 0 0 rg BT 126.97 139.00 Td (particularly ) Tj ET Q q 0 0 0 rg BT 165.58 139.00 Td (challenging ) Tj ET Q q 0 0 0 rg BT 204.64 139.00 Td (2013 ) Tj ET Q q 0 0 0 rg BT 222.38 139.00 Td (during ) Tj ET Q q 0 0 0 rg BT 245.00 139.00 Td (which ) Tj ET Q q 0 0 0 rg BT 266.29 139.00 Td (our ) Tj ET Q q 0 0 0 rg BT 278.69 139.00 Td (clients' ) Tj ET Q q 0 0 0 rg BT 302.75 139.00 Td (behavior ) Tj ET Q q 0 0 0 rg BT 332.47 139.00 Td (in ) Tj ET Q q 0 0 0 rg BT 340.43 139.00 Td (the ) Tj ET Q q 0 0 0 rg BT 351.94 139.00 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 375.90 139.00 Td (Republic ) Tj ET Q q 0 0 0 rg BT 406.52 139.00 Td (was ) Tj ET Q q 0 0 0 rg BT 420.70 139.00 Td (af) Tj ET Q q 0 0 0 rg BT 426.77 139.00 Td (fected ) Tj ET Q q 0 0 0 rg BT 448.04 139.00 Td (by ) Tj ET Q q 0 0 0 rg BT 457.78 139.00 Td (the ) Tj ET Q q 0 0 0 rg BT 469.29 139.00 Td (advertising ) Tj ET Q q 0 0 0 rg BT 506.57 139.00 Td (pricing ) Tj ET Q q 0 0 0 rg BT 530.97 139.00 Td (initiatives ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 129.40 Td (undertaken ) Tj ET Q q 0 0 0 rg BT 87.43 129.40 Td (in ) Tj ET Q q 0 0 0 rg BT 96.05 129.40 Td (the ) Tj ET Q q 0 0 0 rg BT 108.22 129.40 Td (Czech ) Tj ET Q q 0 0 0 rg BT 130.61 129.40 Td (Republic ) Tj ET Q q 0 0 0 rg BT 161.88 129.40 Td (that ) Tj ET Q q 0 0 0 rg BT 176.28 129.40 Td (year) Tj ET Q q 0 0 0 rg BT 189.60 129.40 Td (. ) Tj ET Q q 0 0 0 rg BT 193.82 129.40 Td (The ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.65 129.40 Td (17%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 223.32 129.40 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 225.71 129.40 Td (decrease) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.25 129.40 Td ( ) Tj ET Q q 0 0 0 rg BT 255.64 129.40 Td (in ) Tj ET Q q 0 0 0 rg BT 264.26 129.40 Td (net ) Tj ET Q q 0 0 0 rg BT 276.43 129.40 Td (revenues ) Tj ET Q q 0 0 0 rg BT 307.25 129.40 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 315.87 129.40 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.87 129.40 Td ( ) Tj ET Q q 0 0 0 rg BT 334.27 129.40 Td (compared ) Tj ET Q q 0 0 0 rg BT 368.20 129.40 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.82 129.40 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.82 129.40 Td ( ) Tj ET Q q 0 0 0 rg BT 395.22 129.40 Td (on ) Tj ET Q q 0 0 0 rg BT 405.61 129.40 Td (a ) Tj ET Q q 0 0 0 rg BT 411.56 129.40 Td (constant ) Tj ET Q q 0 0 0 rg BT 440.61 129.40 Td (currency ) Tj ET Q q 0 0 0 rg BT 470.99 129.40 Td (basis ) Tj ET Q q 0 0 0 rg BT 489.38 129.40 Td (was ) Tj ET Q q 0 0 0 rg BT 504.22 129.40 Td (due ) Tj ET Q q 0 0 0 rg BT 518.17 129.40 Td (primarily ) Tj ET Q q 0 0 0 rg BT 550.33 129.40 Td (to ) Tj ET Q q 0 0 0 rg BT 558.95 129.40 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 119.80 Td (decline ) Tj ET Q q 0 0 0 rg BT 74.60 119.80 Td (in ) Tj ET Q q 0 0 0 rg BT 82.82 119.80 Td (television ) Tj ET Q q 0 0 0 rg BT 115.93 119.80 Td (advertising ) Tj ET Q q 0 0 0 rg BT 153.47 119.80 Td (revenues ) Tj ET Q q 0 0 0 rg BT 183.90 119.80 Td (as ) Tj ET Q q 0 0 0 rg BT 192.57 119.80 Td (a ) Tj ET Q q 0 0 0 rg BT 198.12 119.80 Td (result ) Tj ET Q q 0 0 0 rg BT 217.89 119.80 Td (of ) Tj ET Q q 0 0 0 rg BT 226.55 119.80 Td (the ) Tj ET Q q 0 0 0 rg BT 238.33 119.80 Td (advertising ) Tj ET Q q 0 0 0 rg BT 275.88 119.80 Td (pricing ) Tj ET Q q 0 0 0 rg BT 300.54 119.80 Td (initiatives ) Tj ET Q q 0 0 0 rg BT 334.09 119.80 Td (undertaken ) Tj ET Q q 0 0 0 rg BT 371.63 119.80 Td (in ) Tj ET Q q 0 0 0 rg BT 379.85 119.80 Td (the ) Tj ET Q q 0 0 0 rg BT 391.62 119.80 Td (Czech ) Tj ET Q q 0 0 0 rg BT 413.61 119.80 Td (Republic. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 104.20 Td (Costs ) Tj ET Q q 0 0 0 rg BT 69.34 104.20 Td (char) Tj ET Q q 0 0 0 rg BT 82.96 104.20 Td (ged ) Tj ET Q q 0 0 0 rg BT 96.57 104.20 Td (in ) Tj ET Q q 0 0 0 rg BT 104.85 104.20 Td (arriving ) Tj ET Q q 0 0 0 rg BT 132.23 104.20 Td (at ) Tj ET Q q 0 0 0 rg BT 140.07 104.20 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 164.96 104.20 Td ( ) Tj ET Q q 0 0 0 rg BT 167.01 104.20 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 175.29 104.20 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 191.29 104.20 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 193.35 104.20 Td (decreased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 224.88 104.20 Td ( ) Tj ET Q q 0 0 0 rg BT 226.94 104.20 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 237.00 104.20 Td (16%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 251.66 104.20 Td ( ) Tj ET Q q 0 0 0 rg BT 253.72 104.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 287.32 104.20 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.60 104.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.60 104.20 Td (. ) Tj ET Q q 0 0 0 rg BT 315.65 104.20 Td (On ) Tj ET Q q 0 0 0 rg BT 327.49 104.20 Td (a ) Tj ET Q q 0 0 0 rg BT 333.10 104.20 Td (constant ) Tj ET Q q 0 0 0 rg BT 361.82 104.20 Td (currency ) Tj ET Q q 0 0 0 rg BT 391.85 104.20 Td (basis ) Tj ET Q q 0 0 0 rg BT 409.91 104.20 Td (costs ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.97 104.20 Td (decreased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 459.50 104.20 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 461.56 104.20 Td (15%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.22 104.20 Td ( ) Tj ET Q q 0 0 0 rg BT 478.28 104.20 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.56 104.20 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.56 104.20 Td ( ) Tj ET Q q 0 0 0 rg BT 504.62 104.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 538.21 104.20 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.49 104.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 562.49 104.20 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 94.60 Td (reflecting ) Tj ET Q q 0 0 0 rg BT 81.81 94.60 Td (significantly ) Tj ET Q q 0 0 0 rg BT 123.46 94.60 Td (lower ) Tj ET Q q 0 0 0 rg BT 143.33 94.60 Td (programming ) Tj ET Q q 0 0 0 rg BT 188.53 94.60 Td (impairment ) Tj ET Q q 0 0 0 rg BT 227.07 94.60 Td (and ) Tj ET Q q 0 0 0 rg BT 240.28 94.60 Td (a ) Tj ET Q q 0 0 0 rg BT 245.48 94.60 Td (decrease ) Tj ET Q q 0 0 0 rg BT 274.67 94.60 Td (in ) Tj ET Q q 0 0 0 rg BT 282.55 94.60 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 325.08 94.60 Td (char) Tj ET Q q 0 0 0 rg BT 338.71 94.60 Td (ges. ) Tj ET Q q 0 0 0 rg BT 352.91 94.60 Td (The ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.00 94.60 Td (14%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.67 94.60 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 383.32 94.60 Td (increase) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.53 94.60 Td ( ) Tj ET Q q 0 0 0 rg BT 411.18 94.60 Td (in ) Tj ET Q q 0 0 0 rg BT 419.06 94.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 436.72 94.60 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.60 94.60 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.60 94.60 Td ( ) Tj ET Q q 0 0 0 rg BT 462.26 94.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 495.45 94.60 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 503.33 94.60 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.33 94.60 Td ( ) Tj ET Q q 0 0 0 rg BT 520.99 94.60 Td (on ) Tj ET Q q 0 0 0 rg BT 530.65 94.60 Td (a ) Tj ET Q q 0 0 0 rg BT 535.86 94.60 Td (constant ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 85.00 Td (currency ) Tj ET Q q 0 0 0 rg BT 79.46 85.00 Td (basis ) Tj ET Q q 0 0 0 rg BT 97.43 85.00 Td (was ) Tj ET Q q 0 0 0 rg BT 111.85 85.00 Td (due ) Tj ET Q q 0 0 0 rg BT 125.37 85.00 Td (to ) Tj ET Q q 0 0 0 rg BT 133.57 85.00 Td (the ) Tj ET Q q 0 0 0 rg BT 145.32 85.00 Td (costs ) Tj ET Q q 0 0 0 rg BT 163.29 85.00 Td (associated ) Tj ET Q q 0 0 0 rg BT 198.14 85.00 Td (with ) Tj ET Q q 0 0 0 rg BT 214.34 85.00 Td (two ) Tj ET Q q 0 0 0 rg BT 228.31 85.00 Td (additional ) Tj ET Q q 0 0 0 rg BT 262.28 85.00 Td (channels ) Tj ET Q q 0 0 0 rg BT 292.24 85.00 Td (as ) Tj ET Q q 0 0 0 rg BT 300.88 85.00 Td (well ) Tj ET Q q 0 0 0 rg BT 316.63 85.00 Td (as ) Tj ET Q q 0 0 0 rg BT 325.27 85.00 Td (an ) Tj ET Q q 0 0 0 rg BT 334.79 85.00 Td (increase ) Tj ET Q q 0 0 0 rg BT 362.97 85.00 Td (in ) Tj ET Q q 0 0 0 rg BT 371.17 85.00 Td (content ) Tj ET Q q 0 0 0 rg BT 396.69 85.00 Td (costs, ) Tj ET Q q 0 0 0 rg BT 416.66 85.00 Td (which ) Tj ET Q q 0 0 0 rg BT 438.19 85.00 Td (included ) Tj ET Q q 0 0 0 rg BT 467.71 85.00 Td (impairment ) Tj ET Q q 0 0 0 rg BT 506.56 85.00 Td (of ) Tj ET Q q 0 0 0 rg BT 515.20 85.00 Td (program ) Tj ET Q q 0 0 0 rg BT 544.28 85.00 Td (rights ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 75.40 Td (and ) Tj ET Q q 0 0 0 rg BT 63.05 75.40 Td (local ) Tj ET Q q 0 0 0 rg BT 80.60 75.40 Td (productions.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 59.80 Td (Our ) Tj ET Q q 0 0 0 rg BT 64.22 59.80 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 88.72 59.80 Td (Republic ) Tj ET Q q 0 0 0 rg BT 119.88 59.80 Td (segment ) Tj ET Q q 0 0 0 rg BT 148.82 59.80 Td (reported ) Tj ET Q q 0 0 0 rg BT 177.75 59.80 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 202.64 59.80 Td ( ) Tj ET Q q 0 0 0 rg BT 204.92 59.80 Td (of ) Tj ET Q q 0 0 0 rg BT 213.86 59.80 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 230.37 59.80 Td (4.6 ) Tj ET Q q 0 0 0 rg BT 242.65 59.80 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 265.76 59.80 Td ( ) Tj ET Q q 0 0 0 rg BT 268.04 59.80 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 276.54 59.80 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.54 59.80 Td ( ) Tj ET Q q 0 0 0 rg BT 294.82 59.80 Td (compared ) Tj ET Q q 0 0 0 rg BT 328.63 59.80 Td (to ) Tj ET Q q 0 0 0 rg BT 337.13 59.80 Td (an ) Tj ET Q q 0 0 0 rg BT 346.96 59.80 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 371.85 59.80 Td ( ) Tj ET Q q 0 0 0 rg BT 374.13 59.80 Td (loss ) Tj ET Q q 0 0 0 rg BT 388.86 59.80 Td (of ) Tj ET Q q 0 0 0 rg BT 397.80 59.80 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 414.31 59.80 Td (19.9 ) Tj ET Q q 0 0 0 rg BT 430.59 59.80 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.70 59.80 Td ( ) Tj ET Q q 0 0 0 rg BT 455.98 59.80 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.48 59.80 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.48 59.80 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.76 59.80 Td (an ) Tj ET Q q 0 0 0 rg BT 494.59 59.80 Td (increase) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 520.79 59.80 Td ( ) Tj ET Q q 0 0 0 rg BT 523.07 59.80 Td (of ) Tj ET Q q 0 0 0 rg BT 532.01 59.80 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 548.51 59.80 Td (24.5 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 50.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 72.61 50.20 Td (. ) Tj ET Q q 0 0 0 rg BT 76.61 50.20 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 101.50 50.20 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 103.50 50.20 Td (decreased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 135.04 50.20 Td ( ) Tj ET Q q 0 0 0 rg BT 137.04 50.20 Td (by ) Tj ET Q q 0 0 0 rg BT 147.04 50.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 163.26 50.20 Td (28.5 ) Tj ET Q q 0 0 0 rg BT 179.26 50.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 202.38 50.20 Td ( ) Tj ET Q q 0 0 0 rg BT 204.38 50.20 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 212.60 50.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 228.60 50.20 Td ( ) Tj ET Q q 0 0 0 rg BT 230.60 50.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 264.14 50.20 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 272.36 50.20 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.36 50.20 Td (.) 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/F1 8.00 Tf ET q 0 0 0 rg BT 368.00 651.35 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.25 651.35 Td (57,054) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 651.35 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.25 651.35 Td (60,250) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 488.95 651.35 Td (\(5.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 501.65 651.35 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 538.95 651.35 Td (\(7.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 551.65 651.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 636.35 Td (Carriage fees and subscriptions) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 185.25 636.35 Td (4,176) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.25 636.35 Td (3,945) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 286.65 636.35 Td (5.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 299.30 636.35 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 336.65 636.35 Td (6.0) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.25 636.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.25 636.35 Td (3,945) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.25 636.35 Td (3,293) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.65 636.35 Td (19.8) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 504.30 636.35 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 537.65 636.35 Td (16.0) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.30 636.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 621.35 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 185.25 621.35 Td (4,777) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.25 621.35 Td (5,657) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 279.95 621.35 Td (\(15.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 296.65 621.35 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 329.95 621.35 Td (\(14.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.65 621.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.25 621.35 Td (5,657) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.25 621.35 Td (5,352) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 491.65 621.35 Td (5.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 504.30 621.35 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 541.65 621.35 Td (2.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.30 621.35 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 606.33 Td (Net ) Tj ET Q q 0 0 0 rg BT 65.99 606.33 Td (r) Tj ET Q q 0 0 0 rg BT 69.47 606.33 Td (evenues) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 181.25 606.33 Td (61,370) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 231.25 606.33 Td (66,656) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 283.95 606.33 Td (\(7.9) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 296.65 606.33 Td (\)%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 333.95 606.33 Td (\(7.2) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 346.65 606.33 Td (\)%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 386.25 606.33 Td (66,656) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.25 606.33 Td (68,895) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 488.95 606.33 Td (\(3.2) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 501.65 606.33 Td (\)%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 538.95 606.33 Td (\(5.6) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 551.65 606.33 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 593.35 Td (Costs ) Tj ET Q q 0 0 0 rg BT 75.97 593.35 Td (char) Tj ET Q q 0 0 0 rg BT 89.59 593.35 Td (ged ) Tj ET Q q 0 0 0 rg BT 107.32 593.35 Td (in ) Tj ET Q q 0 0 0 rg BT 119.72 593.35 Td (arriving ) Tj ET Q q 0 0 0 rg BT 151.23 593.35 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 585.35 Td (OIBDA) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.25 585.35 Td (56,039) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.25 585.35 Td (57,402) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 283.95 585.35 Td (\(2.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 296.65 585.35 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 333.95 585.35 Td (\(2.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.65 585.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.25 585.35 Td (57,402) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.25 585.35 Td (53,962) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 491.65 585.35 Td (6.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 504.30 585.35 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 541.65 585.35 Td (3.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.30 585.35 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 570.33 Td (OIBDA) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 163.00 570.33 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 185.25 570.33 Td (5,331) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 213.00 570.33 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 235.25 570.33 Td (9,254) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 279.95 570.33 Td (\(42.4) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 296.65 570.33 Td (\)%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 329.95 570.33 Td (\(40.2) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 346.65 570.33 Td (\)%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 368.00 570.33 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 390.25 570.33 Td (9,254) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.00 570.33 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.25 570.33 Td (14,933) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 484.95 570.33 Td (\(38.0) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 501.65 570.33 Td (\)%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 534.95 570.33 Td (\(39.1) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 551.65 570.33 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 551.00 Td (T) Tj ET Q q 0 0 0 rg BT 53.83 551.00 Td (elevision ) Tj ET Q q 0 0 0 rg BT 84.87 551.00 Td (advertising ) Tj ET Q q 0 0 0 rg BT 122.57 551.00 Td (spending ) Tj ET Q q 0 0 0 rg BT 153.61 551.00 Td (in ) Tj ET Q q 0 0 0 rg BT 161.99 551.00 Td (Slovenia ) Tj ET Q q 0 0 0 rg BT 192.14 551.00 Td (decreased ) Tj ET Q q 0 0 0 rg BT 225.83 551.00 Td (an ) Tj ET Q q 0 0 0 rg BT 235.53 551.00 Td (estimated ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 268.34 551.00 Td (6%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 279.01 551.00 Td ( ) Tj ET Q q 0 0 0 rg BT 281.16 551.00 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.54 551.00 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 305.54 551.00 Td ( ) Tj ET Q q 0 0 0 rg BT 307.70 551.00 Td (compared ) Tj ET Q q 0 0 0 rg BT 341.39 551.00 Td (to ) Tj ET Q q 0 0 0 rg BT 349.77 551.00 Td (the ) Tj ET Q q 0 0 0 rg BT 361.70 551.00 Td (prior ) Tj ET Q q 0 0 0 rg BT 379.40 551.00 Td (year ) Tj ET Q q 0 0 0 rg BT 395.32 551.00 Td (primarily ) Tj ET Q q 0 0 0 rg BT 427.25 551.00 Td (due ) Tj ET Q q 0 0 0 rg BT 440.96 551.00 Td (to ) Tj ET Q q 0 0 0 rg BT 449.33 551.00 Td (lower ) Tj ET Q q 0 0 0 rg BT 469.70 551.00 Td (average ) Tj ET Q q 0 0 0 rg BT 496.73 551.00 Td (prices ) Tj ET Q q 0 0 0 rg BT 517.98 551.00 Td (in ) Tj ET Q q 0 0 0 rg BT 526.36 551.00 Td (the ) Tj ET Q q 0 0 0 rg BT 538.29 551.00 Td (market. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 541.40 Td (Our ) Tj ET Q q 0 0 0 rg BT 63.94 541.40 Td (Slovenia ) Tj ET Q q 0 0 0 rg BT 93.94 541.40 Td (segment ) Tj ET Q q 0 0 0 rg BT 122.60 541.40 Td (reported ) Tj ET Q q 0 0 0 rg BT 151.25 541.40 Td (net ) Tj ET Q q 0 0 0 rg BT 163.02 541.40 Td (revenues ) Tj ET Q q 0 0 0 rg BT 193.45 541.40 Td (of ) Tj ET Q q 0 0 0 rg BT 202.12 541.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 218.34 541.40 Td (61.4 ) Tj ET Q q 0 0 0 rg BT 234.34 541.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 257.46 541.40 Td ( ) Tj ET Q q 0 0 0 rg BT 259.46 541.40 Td (for ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 270.79 541.40 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 286.79 541.40 Td ( ) Tj ET Q q 0 0 0 rg BT 288.79 541.40 Td (compared ) Tj ET Q q 0 0 0 rg BT 322.32 541.40 Td (to ) Tj ET Q q 0 0 0 rg BT 330.55 541.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 346.77 541.40 Td (66.7 ) Tj ET Q q 0 0 0 rg BT 362.77 541.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.89 541.40 Td ( ) Tj ET Q q 0 0 0 rg BT 387.89 541.40 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.11 541.40 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.11 541.40 Td (, ) Tj ET Q q 0 0 0 rg BT 416.11 541.40 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.66 541.40 Td (decrease) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.19 541.40 Td ( ) Tj ET Q q 0 0 0 rg BT 451.19 541.40 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 459.86 541.40 Td (8%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 470.52 541.40 Td ( ) Tj ET Q q 0 0 0 rg BT 472.52 541.40 Td (on ) Tj ET Q q 0 0 0 rg BT 482.52 541.40 Td (an ) Tj ET Q q 0 0 0 rg BT 492.07 541.40 Td (actual ) Tj ET Q q 0 0 0 rg BT 513.17 541.40 Td (basis, ) Tj ET Q q 0 0 0 rg BT 533.17 541.40 Td (or ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.83 541.40 Td (7%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 552.50 541.40 Td ( ) Tj ET Q q 0 0 0 rg BT 554.50 541.40 Td (on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 531.80 Td (a ) Tj ET Q q 0 0 0 rg BT 55.17 531.80 Td (constant ) Tj ET Q q 0 0 0 rg BT 83.94 531.80 Td (currency ) Tj ET Q q 0 0 0 rg BT 114.04 531.80 Td (basis, ) Tj ET Q q 0 0 0 rg BT 134.16 531.80 Td (primarily ) Tj ET Q q 0 0 0 rg BT 166.04 531.80 Td (due ) Tj ET Q q 0 0 0 rg BT 179.71 531.80 Td (to ) Tj ET Q q 0 0 0 rg BT 188.05 531.80 Td (a ) Tj ET Q q 0 0 0 rg BT 193.71 531.80 Td (decrease ) Tj ET Q q 0 0 0 rg BT 223.36 531.80 Td (in ) Tj ET Q q 0 0 0 rg BT 231.70 531.80 Td (television ) Tj ET Q q 0 0 0 rg BT 264.92 531.80 Td (advertising ) Tj ET Q q 0 0 0 rg BT 302.59 531.80 Td (revenues ) Tj ET Q q 0 0 0 rg BT 333.13 531.80 Td (because ) Tj ET Q q 0 0 0 rg BT 360.56 531.80 Td (we ) Tj ET Q q 0 0 0 rg BT 372.01 531.80 Td (sold ) Tj ET Q q 0 0 0 rg BT 387.46 531.80 Td (fewer ) Tj ET Q q 0 0 0 rg BT 407.78 531.80 Td (GRPs. ) Tj ET Q q 0 0 0 rg BT 430.42 531.80 Td (The ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.98 531.80 Td (6%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.64 531.80 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 457.76 531.80 Td (decrease) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 485.29 531.80 Td ( ) Tj ET Q q 0 0 0 rg BT 487.40 531.80 Td (in ) Tj ET Q q 0 0 0 rg BT 495.74 531.80 Td (net ) Tj ET Q q 0 0 0 rg BT 507.63 531.80 Td (revenues ) Tj ET Q q 0 0 0 rg BT 538.18 531.80 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.52 531.80 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 562.52 531.80 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 522.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 82.87 522.20 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 90.92 522.20 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.92 522.20 Td ( ) Tj ET Q q 0 0 0 rg BT 108.75 522.20 Td (on ) Tj ET Q q 0 0 0 rg BT 118.58 522.20 Td (a ) Tj ET Q q 0 0 0 rg BT 123.96 522.20 Td (constant ) Tj ET Q q 0 0 0 rg BT 152.45 522.20 Td (currency ) Tj ET Q q 0 0 0 rg BT 182.26 522.20 Td (basis ) Tj ET Q q 0 0 0 rg BT 200.09 522.20 Td (reflected ) Tj ET Q q 0 0 0 rg BT 229.90 522.20 Td (a ) Tj ET Q q 0 0 0 rg BT 235.28 522.20 Td (decline ) Tj ET Q q 0 0 0 rg BT 260.21 522.20 Td (in ) Tj ET Q q 0 0 0 rg BT 268.26 522.20 Td (television ) Tj ET Q q 0 0 0 rg BT 301.20 522.20 Td (advertising ) Tj ET Q q 0 0 0 rg BT 338.57 522.20 Td (revenues ) Tj ET Q q 0 0 0 rg BT 368.83 522.20 Td (consistent ) Tj ET Q q 0 0 0 rg BT 402.66 522.20 Td (with ) Tj ET Q q 0 0 0 rg BT 418.71 522.20 Td (the ) Tj ET Q q 0 0 0 rg BT 430.32 522.20 Td (decline ) Tj ET Q q 0 0 0 rg BT 455.24 522.20 Td (in ) Tj ET Q q 0 0 0 rg BT 463.30 522.20 Td (television ) Tj ET Q q 0 0 0 rg BT 496.23 522.20 Td (advertising ) Tj ET Q q 0 0 0 rg BT 533.61 522.20 Td (spending ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 512.60 Td (in ) Tj ET Q q 0 0 0 rg BT 57.72 512.60 Td (the ) Tj ET Q q 0 0 0 rg BT 69.50 512.60 Td (market.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 497.00 Td (Costs ) Tj ET Q q 0 0 0 rg BT 69.26 497.00 Td (char) Tj ET Q q 0 0 0 rg BT 82.89 497.00 Td (ged ) Tj ET Q q 0 0 0 rg BT 96.42 497.00 Td (in ) Tj ET Q q 0 0 0 rg BT 104.62 497.00 Td (arriving ) Tj ET Q q 0 0 0 rg BT 131.92 497.00 Td (at ) Tj ET Q q 0 0 0 rg BT 139.67 497.00 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 164.57 497.00 Td ( ) Tj ET Q q 0 0 0 rg BT 166.54 497.00 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 174.75 497.00 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 190.75 497.00 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 192.73 497.00 Td (decreased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 224.26 497.00 Td ( ) Tj ET Q q 0 0 0 rg BT 226.24 497.00 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 236.22 497.00 Td (2%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 246.88 497.00 Td ( ) Tj ET Q q 0 0 0 rg BT 248.86 497.00 Td (at ) Tj ET Q q 0 0 0 rg BT 256.61 497.00 Td (actual ) Tj ET Q q 0 0 0 rg BT 277.69 497.00 Td (and ) Tj ET Q q 0 0 0 rg BT 291.22 497.00 Td (constant ) Tj ET Q q 0 0 0 rg BT 319.86 497.00 Td (rates ) Tj ET Q q 0 0 0 rg BT 336.94 497.00 Td (compared ) Tj ET Q q 0 0 0 rg BT 370.46 497.00 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 378.66 497.00 Td (2013) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 0 0 rg BT 394.66 497.00 Td ( ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 396.64 497.00 Td (due ) Tj ET Q q 0 0 0 rg BT 410.17 497.00 Td (primarily ) Tj ET Q q 0 0 0 rg BT 441.92 497.00 Td (to ) Tj ET Q q 0 0 0 rg BT 450.12 497.00 Td (a ) Tj ET Q q 0 0 0 rg BT 455.65 497.00 Td (decrease ) Tj ET Q q 0 0 0 rg BT 485.16 497.00 Td (in ) Tj ET Q q 0 0 0 rg BT 493.37 497.00 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 536.22 497.00 Td (char) Tj ET Q q 0 0 0 rg BT 549.84 497.00 Td (ges. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 487.40 Td (The ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.41 487.40 Td (4%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 75.08 487.40 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 77.55 487.40 Td (increase) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 103.76 487.40 Td ( ) Tj ET Q q 0 0 0 rg BT 106.23 487.40 Td (in ) Tj ET Q q 0 0 0 rg BT 114.93 487.40 Td (costs ) Tj ET Q q 0 0 0 rg BT 133.41 487.40 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 142.11 487.40 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 158.11 487.40 Td ( ) Tj ET Q q 0 0 0 rg BT 160.59 487.40 Td (compared ) Tj ET Q q 0 0 0 rg BT 194.60 487.40 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 203.30 487.40 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 219.30 487.40 Td ( ) Tj ET Q q 0 0 0 rg BT 221.78 487.40 Td (on ) Tj ET Q q 0 0 0 rg BT 232.25 487.40 Td (a ) Tj ET Q q 0 0 0 rg BT 238.28 487.40 Td (constant ) Tj ET Q q 0 0 0 rg BT 267.42 487.40 Td (currency ) Tj ET Q q 0 0 0 rg BT 297.88 487.40 Td (basis ) Tj ET Q q 0 0 0 rg BT 316.35 487.40 Td (was ) Tj ET Q q 0 0 0 rg BT 331.27 487.40 Td (due ) Tj ET Q q 0 0 0 rg BT 345.30 487.40 Td (to ) Tj ET Q q 0 0 0 rg BT 354.00 487.40 Td (an ) Tj ET Q q 0 0 0 rg BT 364.02 487.40 Td (increase ) Tj ET Q q 0 0 0 rg BT 392.70 487.40 Td (in ) Tj ET Q q 0 0 0 rg BT 401.40 487.40 Td (content ) Tj ET Q q 0 0 0 rg BT 427.43 487.40 Td (costs ) Tj ET Q q 0 0 0 rg BT 445.90 487.40 Td (as ) Tj ET Q q 0 0 0 rg BT 455.04 487.40 Td (a ) Tj ET Q q 0 0 0 rg BT 461.07 487.40 Td (result ) Tj ET Q q 0 0 0 rg BT 481.32 487.40 Td (of ) Tj ET Q q 0 0 0 rg BT 490.46 487.40 Td (airing ) Tj ET Q q 0 0 0 rg BT 511.60 487.40 Td (more ) Tj ET Q q 0 0 0 rg BT 530.51 487.40 Td (expensive ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 477.80 Td (programming ) Tj ET Q q 0 0 0 rg BT 95.05 477.80 Td (on ) Tj ET Q q 0 0 0 rg BT 105.05 477.80 Td (the ) Tj ET Q q 0 0 0 rg BT 116.82 477.80 Td (cable ) Tj ET Q q 0 0 0 rg BT 135.70 477.80 Td (channels ) Tj ET Q q 0 0 0 rg BT 165.68 477.80 Td (in ) Tj ET Q q 0 0 0 rg BT 173.91 477.80 Td (order ) Tj ET Q q 0 0 0 rg BT 192.79 477.80 Td (to ) Tj ET Q q 0 0 0 rg BT 201.01 477.80 Td (counter ) Tj ET Q q 0 0 0 rg BT 227.00 477.80 Td (increased ) Tj ET Q q 0 0 0 rg BT 259.20 477.80 Td (competition ) Tj ET Q q 0 0 0 rg BT 299.41 477.80 Td (for ) Tj ET Q q 0 0 0 rg BT 310.74 477.80 Td (audience ) Tj ET Q q 0 0 0 rg BT 341.17 477.80 Td (share ) Tj ET Q q 0 0 0 rg BT 360.05 477.80 Td (in ) Tj ET Q q 0 0 0 rg BT 368.27 477.80 Td (that ) Tj ET Q q 0 0 0 rg BT 382.27 477.80 Td (market.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 462.20 Td (Our ) Tj ET Q q 0 0 0 rg BT 64.28 462.20 Td (Slovenia ) Tj ET Q q 0 0 0 rg BT 94.62 462.20 Td (segment ) Tj ET Q q 0 0 0 rg BT 123.62 462.20 Td (generated ) Tj ET Q q 0 0 0 rg BT 157.05 462.20 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 181.94 462.20 Td ( ) Tj ET Q q 0 0 0 rg BT 184.28 462.20 Td (of ) Tj ET Q q 0 0 0 rg BT 193.28 462.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 209.85 462.20 Td (5.3 ) Tj ET Q q 0 0 0 rg BT 222.19 462.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.30 462.20 Td ( ) Tj ET Q q 0 0 0 rg BT 247.64 462.20 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 256.20 462.20 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 272.20 462.20 Td ( ) Tj ET Q q 0 0 0 rg BT 274.54 462.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 308.42 462.20 Td (to ) Tj ET Q q 0 0 0 rg BT 316.98 462.20 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 341.88 462.20 Td ( ) Tj ET Q q 0 0 0 rg BT 344.21 462.20 Td (of ) Tj ET Q q 0 0 0 rg BT 353.22 462.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 369.79 462.20 Td (9.3 ) Tj ET Q q 0 0 0 rg BT 382.13 462.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.24 462.20 Td ( ) Tj ET Q q 0 0 0 rg BT 407.58 462.20 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.14 462.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.14 462.20 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.48 462.20 Td (a ) Tj ET Q q 0 0 0 rg BT 442.37 462.20 Td (decrease) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.90 462.20 Td ( ) Tj ET Q q 0 0 0 rg BT 472.24 462.20 Td (of ) Tj ET Q q 0 0 0 rg BT 481.25 462.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.81 462.20 Td (4.0 ) Tj ET Q q 0 0 0 rg BT 510.15 462.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.27 462.20 Td (. ) Tj ET Q q 0 0 0 rg BT 537.61 462.20 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 562.50 462.20 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 452.60 Td (decreased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.03 452.60 Td ( ) Tj ET Q q 0 0 0 rg BT 83.03 452.60 Td (by ) Tj ET Q q 0 0 0 rg BT 93.03 452.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 109.26 452.60 Td (5.6 ) Tj ET Q q 0 0 0 rg BT 121.26 452.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 144.37 452.60 Td ( ) Tj ET Q q 0 0 0 rg BT 146.37 452.60 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 154.59 452.60 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 170.59 452.60 Td ( ) Tj ET Q q 0 0 0 rg BT 172.59 452.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 206.13 452.60 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 214.36 452.60 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 230.36 452.60 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 434.00 Td (Futur) Tj ET Q q 0 0 0 rg BT 69.36 434.00 Td (e ) Tj ET Q q 0 0 0 rg BT 74.76 434.00 Td (T) Tj ET Q q 0 0 0 rg BT 79.50 434.00 Td (r) Tj ET Q q 0 0 0 rg BT 82.91 434.00 Td (ends) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 418.40 Td (The ) Tj ET Q q 0 0 0 rg BT 63.41 418.40 Td (consensus ) Tj ET Q q 0 0 0 rg BT 97.32 418.40 Td (forecast ) Tj ET Q q 0 0 0 rg BT 124.10 418.40 Td (for ) Tj ET Q q 0 0 0 rg BT 134.90 418.40 Td (real ) Tj ET Q q 0 0 0 rg BT 148.36 418.40 Td (GDP) Tj ET Q q 0 0 0 rg BT 164.06 418.40 Td ( ) Tj ET Q q 0 0 0 rg BT 165.53 418.40 Td (and ) Tj ET Q q 0 0 0 rg BT 178.55 418.40 Td (private ) Tj ET Q q 0 0 0 rg BT 202.23 418.40 Td (consumption ) Tj ET Q q 0 0 0 rg BT 245.03 418.40 Td (for ) Tj ET Q q 0 0 0 rg BT 255.83 418.40 Td (the ) Tj ET Q q 0 0 0 rg BT 267.07 418.40 Td (countries ) Tj ET Q q 0 0 0 rg BT 297.86 418.40 Td (in ) Tj ET Q q 0 0 0 rg BT 305.55 418.40 Td (which ) Tj ET Q q 0 0 0 rg BT 326.57 418.40 Td (we ) Tj ET Q q 0 0 0 rg BT 337.37 418.40 Td (operate ) Tj ET Q q 0 0 0 rg BT 362.38 418.40 Td (anticipates ) Tj ET Q q 0 0 0 rg BT 398.05 418.40 Td (sustained ) Tj ET Q q 0 0 0 rg BT 429.30 418.40 Td (growth ) Tj ET Q q 0 0 0 rg BT 453.43 418.40 Td (overall ) Tj ET Q q 0 0 0 rg BT 477.11 418.40 Td (during ) Tj ET Q q 0 0 0 rg BT 499.46 418.40 Td (2015. ) Tj ET Q q 0 0 0 rg BT 518.83 418.40 Td (The ) Tj ET Q q 0 0 0 rg BT 532.73 418.40 Td (sanctions ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 408.80 Td (authorized ) Tj ET Q q 0 0 0 rg BT 85.12 408.80 Td (against ) Tj ET Q q 0 0 0 rg BT 109.64 408.80 Td (individuals ) Tj ET Q q 0 0 0 rg BT 147.05 408.80 Td (and ) Tj ET Q q 0 0 0 rg BT 160.46 408.80 Td (entities ) Tj ET Q q 0 0 0 rg BT 185.43 408.80 Td (in ) Tj ET Q q 0 0 0 rg BT 193.51 408.80 Td (Russia ) Tj ET Q q 0 0 0 rg BT 216.71 408.80 Td (during ) Tj ET Q q 0 0 0 rg BT 239.45 408.80 Td (2014 ) Tj ET Q q 0 0 0 rg BT 257.31 408.80 Td (are ) Tj ET Q q 0 0 0 rg BT 268.94 408.80 Td (not ) Tj ET Q q 0 0 0 rg BT 281.02 408.80 Td (expected ) Tj ET Q q 0 0 0 rg BT 311.30 408.80 Td (to ) Tj ET Q q 0 0 0 rg BT 319.39 408.80 Td (have ) Tj ET Q q 0 0 0 rg BT 336.35 408.80 Td (a ) Tj ET Q q 0 0 0 rg BT 341.76 408.80 Td (significant ) Tj ET Q q 0 0 0 rg BT 377.39 408.80 Td (direct ) Tj ET Q q 0 0 0 rg BT 397.46 408.80 Td (impact ) Tj ET Q q 0 0 0 rg BT 421.09 408.80 Td (on ) Tj ET Q q 0 0 0 rg BT 430.95 408.80 Td (retail ) Tj ET Q q 0 0 0 rg BT 449.24 408.80 Td (exports ) Tj ET Q q 0 0 0 rg BT 474.65 408.80 Td (from ) Tj ET Q q 0 0 0 rg BT 492.06 408.80 Td (the ) Tj ET Q q 0 0 0 rg BT 503.69 408.80 Td (countries ) Tj ET Q q 0 0 0 rg BT 534.88 408.80 Td (in ) Tj ET Q q 0 0 0 rg BT 542.96 408.80 Td (which ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 399.20 Td (we ) Tj ET Q q 0 0 0 rg BT 60.85 399.20 Td (operate; ) Tj ET Q q 0 0 0 rg BT 88.63 399.20 Td (however) Tj ET Q q 0 0 0 rg BT 115.86 399.20 Td (, ) Tj ET Q q 0 0 0 rg BT 119.88 399.20 Td (if ) Tj ET Q q 0 0 0 rg BT 126.79 399.20 Td (those ) Tj ET Q q 0 0 0 rg BT 145.69 399.20 Td (sanctions ) Tj ET Q q 0 0 0 rg BT 177.49 399.20 Td (are ) Tj ET Q q 0 0 0 rg BT 189.28 399.20 Td (expanded ) Tj ET Q q 0 0 0 rg BT 221.95 399.20 Td (or ) Tj ET Q q 0 0 0 rg BT 230.63 399.20 Td (impact ) Tj ET Q q 0 0 0 rg BT 254.28 399.20 Td (W) Tj ET Q q 0 0 0 rg BT 261.19 399.20 Td (estern ) Tj ET Q q 0 0 0 rg BT 282.31 399.20 Td (Europe ) Tj ET Q q 0 0 0 rg BT 307.44 399.20 Td (more ) Tj ET Q q 0 0 0 rg BT 325.90 399.20 Td (than ) Tj ET Q q 0 0 0 rg BT 341.69 399.20 Td (anticipated, ) Tj ET Q q 0 0 0 rg BT 380.81 399.20 Td (this ) Tj ET Q q 0 0 0 rg BT 394.39 399.20 Td (could ) Tj ET Q q 0 0 0 rg BT 414.18 399.20 Td (af) Tj ET Q q 0 0 0 rg BT 420.25 399.20 Td (fect ) Tj ET Q q 0 0 0 rg BT 434.26 399.20 Td (real ) Tj ET Q q 0 0 0 rg BT 448.27 399.20 Td (GDP) Tj ET Q q 0 0 0 rg BT 463.98 399.20 Td ( ) Tj ET Q q 0 0 0 rg BT 466.00 399.20 Td (in ) Tj ET Q q 0 0 0 rg BT 474.24 399.20 Td (Central ) Tj ET Q q 0 0 0 rg BT 499.81 399.20 Td (and ) Tj ET Q q 0 0 0 rg BT 513.38 399.20 Td (Eastern ) Tj ET Q q 0 0 0 rg BT 539.39 399.20 Td (Europe ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 389.60 Td (given ) Tj ET Q q 0 0 0 rg BT 69.15 389.60 Td (the ) Tj ET Q q 0 0 0 rg BT 80.80 389.60 Td (export-oriented ) Tj ET Q q 0 0 0 rg BT 131.98 389.60 Td (nature ) Tj ET Q q 0 0 0 rg BT 153.85 389.60 Td (of ) Tj ET Q q 0 0 0 rg BT 162.39 389.60 Td (those ) Tj ET Q q 0 0 0 rg BT 181.15 389.60 Td (economies. ) Tj ET Q q 0 0 0 rg BT 219.23 389.60 Td (Continued ) Tj ET Q q 0 0 0 rg BT 254.44 389.60 Td (softness ) Tj ET Q q 0 0 0 rg BT 282.09 389.60 Td (in ) Tj ET Q q 0 0 0 rg BT 290.19 389.60 Td (the ) Tj ET Q q 0 0 0 rg BT 301.84 389.60 Td (Eurozone, ) Tj ET Q q 0 0 0 rg BT 336.37 389.60 Td (including ) Tj ET Q q 0 0 0 rg BT 368.46 389.60 Td (a ) Tj ET Q q 0 0 0 rg BT 373.89 389.60 Td (slow ) Tj ET Q q 0 0 0 rg BT 390.88 389.60 Td (down ) Tj ET Q q 0 0 0 rg BT 410.53 389.60 Td (in ) Tj ET Q q 0 0 0 rg BT 418.63 389.60 Td (the ) Tj ET Q q 0 0 0 rg BT 430.27 389.60 Td (growth ) Tj ET Q q 0 0 0 rg BT 454.81 389.60 Td (of ) Tj ET Q q 0 0 0 rg BT 463.35 389.60 Td (consumer ) Tj ET Q q 0 0 0 rg BT 496.33 389.60 Td (prices, ) Tj ET Q q 0 0 0 rg BT 519.30 389.60 Td (has ) Tj ET Q q 0 0 0 rg BT 531.84 389.60 Td (prompted ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 380.00 Td (the ) Tj ET Q q 0 0 0 rg BT 61.58 380.00 Td (European ) Tj ET Q q 0 0 0 rg BT 94.53 380.00 Td (Central ) Tj ET Q q 0 0 0 rg BT 120.38 380.00 Td (Bank ) Tj ET Q q 0 0 0 rg BT 139.57 380.00 Td (to ) Tj ET Q q 0 0 0 rg BT 148.09 380.00 Td (embark ) Tj ET Q q 0 0 0 rg BT 174.38 380.00 Td (upon ) Tj ET Q q 0 0 0 rg BT 192.68 380.00 Td (quantitative ) Tj ET Q q 0 0 0 rg BT 232.75 380.00 Td (easing. ) Tj ET Q q 0 0 0 rg BT 257.32 380.00 Td (The ) Tj ET Q q 0 0 0 rg BT 272.06 380.00 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 300.58 380.00 Td (impact ) Tj ET Q q 0 0 0 rg BT 324.65 380.00 Td (of ) Tj ET Q q 0 0 0 rg BT 333.62 380.00 Td (this ) Tj ET Q q 0 0 0 rg BT 347.48 380.00 Td (program ) Tj ET Q q 0 0 0 rg BT 376.88 380.00 Td (is ) Tj ET Q q 0 0 0 rg BT 384.52 380.00 Td (uncertain ) Tj ET Q q 0 0 0 rg BT 416.58 380.00 Td (but ) Tj ET Q q 0 0 0 rg BT 429.10 380.00 Td (if ) Tj ET Q q 0 0 0 rg BT 436.29 380.00 Td (one ) Tj ET Q q 0 0 0 rg BT 450.15 380.00 Td (result ) Tj ET Q q 0 0 0 rg BT 470.22 380.00 Td (is ) Tj ET Q q 0 0 0 rg BT 477.86 380.00 Td (further ) Tj ET Q q 0 0 0 rg BT 501.93 380.00 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 543.76 380.00 Td (of ) Tj ET Q q 0 0 0 rg BT 552.73 380.00 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 370.40 Td (Euro, ) Tj ET Q q 0 0 0 rg BT 69.27 370.40 Td (it ) Tj ET Q q 0 0 0 rg BT 75.94 370.40 Td (could ) Tj ET Q q 0 0 0 rg BT 95.93 370.40 Td (provide ) Tj ET Q q 0 0 0 rg BT 122.59 370.40 Td (a ) Tj ET Q q 0 0 0 rg BT 128.37 370.40 Td (boost ) Tj ET Q q 0 0 0 rg BT 147.92 370.40 Td (to ) Tj ET Q q 0 0 0 rg BT 156.37 370.40 Td (exports ) Tj ET Q q 0 0 0 rg BT 182.14 370.40 Td (from ) Tj ET Q q 0 0 0 rg BT 199.91 370.40 Td (the ) Tj ET Q q 0 0 0 rg BT 211.91 370.40 Td (Eurozone ) Tj ET Q q 0 0 0 rg BT 244.78 370.40 Td (and ) Tj ET Q q 0 0 0 rg BT 258.55 370.40 Td (this ) Tj ET Q q 0 0 0 rg BT 272.33 370.40 Td (should ) Tj ET Q q 0 0 0 rg BT 295.89 370.40 Td (benefit ) Tj ET Q q 0 0 0 rg BT 320.33 370.40 Td (the ) Tj ET Q q 0 0 0 rg BT 332.32 370.40 Td (economies ) Tj ET Q q 0 0 0 rg BT 368.75 370.40 Td (of ) Tj ET Q q 0 0 0 rg BT 377.64 370.40 Td (the ) Tj ET Q q 0 0 0 rg BT 389.63 370.40 Td (countries ) Tj ET Q q 0 0 0 rg BT 421.18 370.40 Td (in ) Tj ET Q q 0 0 0 rg BT 429.62 370.40 Td (which ) Tj ET Q q 0 0 0 rg BT 451.40 370.40 Td (we ) Tj ET Q q 0 0 0 rg BT 462.95 370.40 Td (operate. ) Tj ET Q q 0 0 0 rg BT 490.55 370.40 Td (The ) Tj ET Q q 0 0 0 rg BT 505.21 370.40 Td (recent ) Tj ET Q q 0 0 0 rg BT 526.97 370.40 Td (slide ) Tj ET Q q 0 0 0 rg BT 544.30 370.40 Td (in ) Tj ET Q q 0 0 0 rg BT 552.74 370.40 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 360.80 Td (price ) Tj ET Q q 0 0 0 rg BT 67.42 360.80 Td (of ) Tj ET Q q 0 0 0 rg BT 76.02 360.80 Td (oil ) Tj ET Q q 0 0 0 rg BT 86.40 360.80 Td (is ) Tj ET Q q 0 0 0 rg BT 93.67 360.80 Td (expected ) Tj ET Q q 0 0 0 rg BT 124.03 360.80 Td (to ) Tj ET Q q 0 0 0 rg BT 132.19 360.80 Td (further ) Tj ET Q q 0 0 0 rg BT 155.89 360.80 Td (improve ) Tj ET Q q 0 0 0 rg BT 184.48 360.80 Td (consumer ) Tj ET Q q 0 0 0 rg BT 217.52 360.80 Td (confidence, ) Tj ET Q q 0 0 0 rg BT 256.54 360.80 Td (and ) Tj ET Q q 0 0 0 rg BT 270.03 360.80 Td (continue ) Tj ET Q q 0 0 0 rg BT 299.51 360.80 Td (supporting ) Tj ET Q q 0 0 0 rg BT 335.67 360.80 Td (robust ) Tj ET Q q 0 0 0 rg BT 357.60 360.80 Td (retail ) Tj ET Q q 0 0 0 rg BT 375.97 360.80 Td (sales ) Tj ET Q q 0 0 0 rg BT 393.46 360.80 Td (data, ) Tj ET Q q 0 0 0 rg BT 410.72 360.80 Td (in ) Tj ET Q q 0 0 0 rg BT 418.87 360.80 Td (particular ) Tj ET Q q 0 0 0 rg BT 451.46 360.80 Td (in ) Tj ET Q q 0 0 0 rg BT 459.61 360.80 Td (the ) Tj ET Q q 0 0 0 rg BT 471.32 360.80 Td (Czech ) Tj ET Q q 0 0 0 rg BT 493.24 360.80 Td (Republic. ) Tj ET Q q 0 0 0 rg BT 526.06 360.80 Td (If ) Tj ET Q q 0 0 0 rg BT 533.32 360.80 Td (GDP) Tj ET Q q 0 0 0 rg BT 549.03 360.80 Td ( ) Tj ET Q q 0 0 0 rg BT 550.97 360.80 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 351.20 Td (private ) Tj ET Q q 0 0 0 rg BT 73.40 351.20 Td (consumption ) Tj ET Q q 0 0 0 rg BT 116.41 351.20 Td (continue ) Tj ET Q q 0 0 0 rg BT 145.65 351.20 Td (to ) Tj ET Q q 0 0 0 rg BT 153.55 351.20 Td (grow ) Tj ET Q q 0 0 0 rg BT 171.68 351.20 Td (in ) Tj ET Q q 0 0 0 rg BT 179.59 351.20 Td (2015, ) Tj ET Q q 0 0 0 rg BT 199.28 351.20 Td (this ) Tj ET Q q 0 0 0 rg BT 212.52 351.20 Td (should ) Tj ET Q q 0 0 0 rg BT 235.54 351.20 Td (support ) Tj ET Q q 0 0 0 rg BT 261.23 351.20 Td (the ) Tj ET Q q 0 0 0 rg BT 272.69 351.20 Td (demand ) Tj ET Q q 0 0 0 rg BT 299.70 351.20 Td (for ) Tj ET Q q 0 0 0 rg BT 310.71 351.20 Td (advertising ) Tj ET Q q 0 0 0 rg BT 347.94 351.20 Td (and ) Tj ET Q q 0 0 0 rg BT 361.18 351.20 Td (our ) Tj ET Q q 0 0 0 rg BT 373.53 351.20 Td (leading ) Tj ET Q q 0 0 0 rg BT 398.76 351.20 Td (audience ) Tj ET Q q 0 0 0 rg BT 428.87 351.20 Td (shares ) Tj ET Q q 0 0 0 rg BT 450.55 351.20 Td (provide ) Tj ET Q q 0 0 0 rg BT 476.67 351.20 Td (the ) Tj ET Q q 0 0 0 rg BT 488.13 351.20 Td (best ) Tj ET Q q 0 0 0 rg BT 502.70 351.20 Td (reach ) Tj ET Q q 0 0 0 rg BT 521.71 351.20 Td (on ) Tj ET Q q 0 0 0 rg BT 531.39 351.20 Td (television ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 341.60 Td (to ) Tj ET Q q 0 0 0 rg BT 57.72 341.60 Td (satisfy ) Tj ET Q q 0 0 0 rg BT 80.61 341.60 Td (that ) Tj ET Q q 0 0 0 rg BT 94.61 341.60 Td (demand.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 326.00 Td (The ) Tj ET Q q 0 0 0 rg BT 63.67 326.00 Td (currencies ) Tj ET Q q 0 0 0 rg BT 98.28 326.00 Td (of ) Tj ET Q q 0 0 0 rg BT 106.68 326.00 Td (the ) Tj ET Q q 0 0 0 rg BT 118.19 326.00 Td (countries ) Tj ET Q q 0 0 0 rg BT 149.25 326.00 Td (in ) Tj ET Q q 0 0 0 rg BT 157.21 326.00 Td (which ) Tj ET Q q 0 0 0 rg BT 178.49 326.00 Td (we ) Tj ET Q q 0 0 0 rg BT 189.56 326.00 Td (operate ) Tj ET Q q 0 0 0 rg BT 214.83 326.00 Td (depreciated ) Tj ET Q q 0 0 0 rg BT 253.43 326.00 Td (considerably ) Tj ET Q q 0 0 0 rg BT 296.04 326.00 Td (against ) Tj ET Q q 0 0 0 rg BT 320.44 326.00 Td (the ) Tj ET Q q 0 0 0 rg BT 331.95 326.00 Td (dollar ) Tj ET Q q 0 0 0 rg BT 352.35 326.00 Td (during ) Tj ET Q q 0 0 0 rg BT 374.97 326.00 Td (the ) Tj ET Q q 0 0 0 rg BT 386.48 326.00 Td (second ) Tj ET Q q 0 0 0 rg BT 410.43 326.00 Td (half ) Tj ET Q q 0 0 0 rg BT 424.61 326.00 Td (of ) Tj ET Q q 0 0 0 rg BT 433.01 326.00 Td (2014 ) Tj ET Q q 0 0 0 rg BT 450.74 326.00 Td (and ) Tj ET Q q 0 0 0 rg BT 464.03 326.00 Td (that ) Tj ET Q q 0 0 0 rg BT 477.76 326.00 Td (trend ) Tj ET Q q 0 0 0 rg BT 495.94 326.00 Td (has ) Tj ET Q q 0 0 0 rg BT 508.34 326.00 Td (continued ) Tj ET Q q 0 0 0 rg BT 541.62 326.00 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 316.40 Td (the ) Tj ET Q q 0 0 0 rg BT 61.07 316.40 Td (first ) Tj ET Q q 0 0 0 rg BT 75.76 316.40 Td (several ) Tj ET Q q 0 0 0 rg BT 100.21 316.40 Td (months ) Tj ET Q q 0 0 0 rg BT 125.57 316.40 Td (of ) Tj ET Q q 0 0 0 rg BT 134.03 316.40 Td (2015 ) Tj ET Q q 0 0 0 rg BT 151.83 316.40 Td (with ) Tj ET Q q 0 0 0 rg BT 167.86 316.40 Td (the ) Tj ET Q q 0 0 0 rg BT 179.43 316.40 Td (Euro ) Tj ET Q q 0 0 0 rg BT 196.78 316.40 Td (hitting ) Tj ET Q q 0 0 0 rg BT 219.47 316.40 Td (lows ) Tj ET Q q 0 0 0 rg BT 236.38 316.40 Td (not ) Tj ET Q q 0 0 0 rg BT 248.41 316.40 Td (seen ) Tj ET Q q 0 0 0 rg BT 264.42 316.40 Td (in ) Tj ET Q q 0 0 0 rg BT 272.44 316.40 Td (more ) Tj ET Q q 0 0 0 rg BT 290.68 316.40 Td (than ) Tj ET Q q 0 0 0 rg BT 306.25 316.40 Td (a ) Tj ET Q q 0 0 0 rg BT 311.60 316.40 Td (decade. ) Tj ET Q q 0 0 0 rg BT 337.48 316.40 Td (These ) Tj ET Q q 0 0 0 rg BT 358.38 316.40 Td (movements ) Tj ET Q q 0 0 0 rg BT 397.06 316.40 Td (have ) Tj ET Q q 0 0 0 rg BT 413.96 316.40 Td (impacted ) Tj ET Q q 0 0 0 rg BT 445.08 316.40 Td (our ) Tj ET Q q 0 0 0 rg BT 457.55 316.40 Td (2014 ) Tj ET Q q 0 0 0 rg BT 475.35 316.40 Td (results ) Tj ET Q q 0 0 0 rg BT 498.03 316.40 Td (when ) Tj ET Q q 0 0 0 rg BT 517.16 316.40 Td (translated ) Tj ET Q q 0 0 0 rg BT 550.06 316.40 Td (into ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 306.80 Td (dollars ) Tj ET Q q 0 0 0 rg BT 73.09 306.80 Td (at ) Tj ET Q q 0 0 0 rg BT 80.69 306.80 Td (actual ) Tj ET Q q 0 0 0 rg BT 101.61 306.80 Td (rates. ) Tj ET Q q 0 0 0 rg BT 120.40 306.80 Td (This ) Tj ET Q q 0 0 0 rg BT 136.44 306.80 Td (trend ) Tj ET Q q 0 0 0 rg BT 154.70 306.80 Td (will ) Tj ET Q q 0 0 0 rg BT 168.97 306.80 Td (likely ) Tj ET Q q 0 0 0 rg BT 189.01 306.80 Td (continue ) Tj ET Q q 0 0 0 rg BT 218.38 306.80 Td (to ) Tj ET Q q 0 0 0 rg BT 226.42 306.80 Td (cause ) Tj ET Q q 0 0 0 rg BT 246.01 306.80 Td (variances ) Tj ET Q q 0 0 0 rg BT 278.03 306.80 Td (of ) Tj ET Q q 0 0 0 rg BT 286.52 306.80 Td (results ) Tj ET Q q 0 0 0 rg BT 309.23 306.80 Td (in ) Tj ET Q q 0 0 0 rg BT 317.27 306.80 Td (2015 ) Tj ET Q q 0 0 0 rg BT 335.09 306.80 Td (from ) Tj ET Q q 0 0 0 rg BT 352.46 306.80 Td (results ) Tj ET Q q 0 0 0 rg BT 375.17 306.80 Td (reported ) Tj ET Q q 0 0 0 rg BT 403.64 306.80 Td (at ) Tj ET Q q 0 0 0 rg BT 411.24 306.80 Td (historical ) Tj ET Q q 0 0 0 rg BT 442.83 306.80 Td (exchange ) Tj ET Q q 0 0 0 rg BT 474.85 306.80 Td (rates ) Tj ET Q q 0 0 0 rg BT 491.78 306.80 Td (in ) Tj ET Q q 0 0 0 rg BT 499.82 306.80 Td (comparable ) Tj ET Q q 0 0 0 rg BT 538.96 306.80 Td (periods ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 297.20 Td (to ) Tj ET Q q 0 0 0 rg BT 57.72 297.20 Td (be ) Tj ET Q q 0 0 0 rg BT 67.27 297.20 Td (significantly ) Tj ET Q q 0 0 0 rg BT 109.27 297.20 Td (dif) Tj ET Q q 0 0 0 rg BT 118.01 297.20 Td (ferent ) Tj ET Q q 0 0 0 rg BT 138.66 297.20 Td (from ) Tj ET Q q 0 0 0 rg BT 156.21 297.20 Td (variances ) Tj ET Q q 0 0 0 rg BT 188.41 297.20 Td (at ) Tj ET Q q 0 0 0 rg BT 196.19 297.20 Td (constant ) Tj ET Q q 0 0 0 rg BT 224.85 297.20 Td (exchange ) Tj ET Q q 0 0 0 rg BT 257.05 297.20 Td (rates. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 281.60 Td (While ) Tj ET Q q 0 0 0 rg BT 71.12 281.60 Td (the ) Tj ET Q q 0 0 0 rg BT 82.97 281.60 Td (weakening ) Tj ET Q q 0 0 0 rg BT 119.70 281.60 Td (of ) Tj ET Q q 0 0 0 rg BT 128.44 281.60 Td (these ) Tj ET Q q 0 0 0 rg BT 146.95 281.60 Td (currencies ) Tj ET Q q 0 0 0 rg BT 181.89 281.60 Td (will ) Tj ET Q q 0 0 0 rg BT 196.41 281.60 Td (not ) Tj ET Q q 0 0 0 rg BT 208.71 281.60 Td (have ) Tj ET Q q 0 0 0 rg BT 225.89 281.60 Td (a ) Tj ET Q q 0 0 0 rg BT 231.51 281.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 267.36 281.60 Td (impact ) Tj ET Q q 0 0 0 rg BT 291.20 281.60 Td (on ) Tj ET Q q 0 0 0 rg BT 301.28 281.60 Td (our ) Tj ET Q q 0 0 0 rg BT 314.02 281.60 Td (day-to-day ) Tj ET Q q 0 0 0 rg BT 350.75 281.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 386.14 281.60 Td (because ) Tj ET Q q 0 0 0 rg BT 413.54 281.60 Td (revenues ) Tj ET Q q 0 0 0 rg BT 444.04 281.60 Td (and ) Tj ET Q q 0 0 0 rg BT 457.67 281.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 489.95 281.60 Td (expenses ) Tj ET Q q 0 0 0 rg BT 520.91 281.60 Td (are ) Tj ET Q q 0 0 0 rg BT 532.75 281.60 Td (generally ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 272.00 Td (denominated ) Tj ET Q q 0 0 0 rg BT 93.62 272.00 Td (in ) Tj ET Q q 0 0 0 rg BT 102.64 272.00 Td (local ) Tj ET Q q 0 0 0 rg BT 120.98 272.00 Td (currencies, ) Tj ET Q q 0 0 0 rg BT 158.65 272.00 Td (it ) Tj ET Q q 0 0 0 rg BT 165.89 272.00 Td (will ) Tj ET Q q 0 0 0 rg BT 181.13 272.00 Td (have ) Tj ET Q q 0 0 0 rg BT 199.03 272.00 Td (an ) Tj ET Q q 0 0 0 rg BT 209.38 272.00 Td (impact ) Tj ET Q q 0 0 0 rg BT 233.95 272.00 Td (on ) Tj ET Q q 0 0 0 rg BT 244.75 272.00 Td (payments ) Tj ET Q q 0 0 0 rg BT 278.21 272.00 Td (for ) Tj ET Q q 0 0 0 rg BT 290.33 272.00 Td (the ) Tj ET Q q 0 0 0 rg BT 302.90 272.00 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 340.81 272.00 Td (of ) Tj ET Q q 0 0 0 rg BT 350.27 272.00 Td (foreign ) Tj ET Q q 0 0 0 rg BT 376.17 272.00 Td (programming ) Tj ET Q q 0 0 0 rg BT 422.51 272.00 Td (as ) Tj ET Q q 0 0 0 rg BT 431.97 272.00 Td (well ) Tj ET Q q 0 0 0 rg BT 448.55 272.00 Td (as ) Tj ET Q q 0 0 0 rg BT 458.01 272.00 Td (dollar) Tj ET Q q 0 0 0 rg BT 476.51 272.00 Td (-denominated ) Tj ET Q q 0 0 0 rg BT 523.29 272.00 Td (debt ) Tj ET Q q 0 0 0 rg BT 539.86 272.00 Td (service ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 262.40 Td (obligations ) Tj ET Q q 0 0 0 rg BT 86.68 262.40 Td (paid ) Tj ET Q q 0 0 0 rg BT 102.07 262.40 Td (in ) Tj ET Q q 0 0 0 rg BT 109.91 262.40 Td (cash. ) Tj ET Q q 0 0 0 rg BT 127.75 262.40 Td (Foreign ) Tj ET Q q 0 0 0 rg BT 154.26 262.40 Td (programming ) Tj ET Q q 0 0 0 rg BT 199.43 262.40 Td (amounted ) Tj ET Q q 0 0 0 rg BT 232.59 262.40 Td (to ) Tj ET Q q 0 0 0 rg BT 240.44 262.40 Td (less ) Tj ET Q q 0 0 0 rg BT 254.06 262.40 Td (than ) Tj ET Q q 0 0 0 rg BT 269.45 262.40 Td (half ) Tj ET Q q 0 0 0 rg BT 283.51 262.40 Td (of ) Tj ET Q q 0 0 0 rg BT 291.80 262.40 Td (total ) Tj ET Q q 0 0 0 rg BT 307.64 262.40 Td (content ) Tj ET Q q 0 0 0 rg BT 332.80 262.40 Td (costs ) Tj ET Q q 0 0 0 rg BT 350.43 262.40 Td (during ) Tj ET Q q 0 0 0 rg BT 372.93 262.40 Td (2014, ) Tj ET Q q 0 0 0 rg BT 392.55 262.40 Td (and ) Tj ET Q q 0 0 0 rg BT 405.73 262.40 Td (we ) Tj ET Q q 0 0 0 rg BT 416.68 262.40 Td (expect ) Tj ET Q q 0 0 0 rg BT 439.17 262.40 Td (the ) Tj ET Q q 0 0 0 rg BT 450.57 262.40 Td (proportion ) Tj ET Q q 0 0 0 rg BT 485.96 262.40 Td (of ) Tj ET Q q 0 0 0 rg BT 494.25 262.40 Td (foreign ) Tj ET Q q 0 0 0 rg BT 518.97 262.40 Td (programming ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 252.80 Td (to ) Tj ET Q q 0 0 0 rg BT 57.53 252.80 Td (decrease ) Tj ET Q q 0 0 0 rg BT 86.86 252.80 Td (slowly ) Tj ET Q q 0 0 0 rg BT 110.00 252.80 Td (over ) Tj ET Q q 0 0 0 rg BT 126.02 252.80 Td (the ) Tj ET Q q 0 0 0 rg BT 137.60 252.80 Td (next ) Tj ET Q q 0 0 0 rg BT 153.18 252.80 Td (three ) Tj ET Q q 0 0 0 rg BT 170.97 252.80 Td (years ) Tj ET Q q 0 0 0 rg BT 189.66 252.80 Td (as ) Tj ET Q q 0 0 0 rg BT 198.13 252.80 Td (the ) Tj ET Q q 0 0 0 rg BT 209.70 252.80 Td (impact ) Tj ET Q q 0 0 0 rg BT 233.28 252.80 Td (of ) Tj ET Q q 0 0 0 rg BT 241.75 252.80 Td (buying ) Tj ET Q q 0 0 0 rg BT 265.77 252.80 Td (fewer ) Tj ET Q q 0 0 0 rg BT 285.79 252.80 Td (hours ) Tj ET Q q 0 0 0 rg BT 305.37 252.80 Td (of ) Tj ET Q q 0 0 0 rg BT 313.84 252.80 Td (content ) Tj ET Q q 0 0 0 rg BT 339.19 252.80 Td (from ) Tj ET Q q 0 0 0 rg BT 356.54 252.80 Td (the ) Tj ET Q q 0 0 0 rg BT 368.12 252.80 Td (major ) Tj ET Q q 0 0 0 rg BT 388.59 252.80 Td (studios ) Tj ET Q q 0 0 0 rg BT 413.06 252.80 Td (at ) Tj ET Q q 0 0 0 rg BT 420.64 252.80 Td (significantly ) Tj ET Q q 0 0 0 rg BT 462.44 252.80 Td (lower ) Tj ET Q q 0 0 0 rg BT 482.46 252.80 Td (prices ) Tj ET Q q 0 0 0 rg BT 503.36 252.80 Td (cycles ) Tj ET Q q 0 0 0 rg BT 525.16 252.80 Td (through ) Tj ET Q q 0 0 0 rg BT 551.85 252.80 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 243.20 Td (program ) Tj ET Q q 0 0 0 rg BT 78.46 243.20 Td (library) Tj ET Q q 0 0 0 rg BT 99.26 243.20 Td (. ) Tj ET Q q 0 0 0 rg BT 102.99 243.20 Td (W) Tj ET Q q 0 0 0 rg BT 109.90 243.20 Td (e ) Tj ET Q q 0 0 0 rg BT 115.31 243.20 Td (have ) Tj ET Q q 0 0 0 rg BT 132.27 243.20 Td (dollar) Tj ET Q q 0 0 0 rg BT 150.77 243.20 Td (-denominated ) Tj ET Q q 0 0 0 rg BT 196.61 243.20 Td (interest ) Tj ET Q q 0 0 0 rg BT 222.02 243.20 Td (payments ) Tj ET Q q 0 0 0 rg BT 254.53 243.20 Td (under ) Tj ET Q q 0 0 0 rg BT 274.61 243.20 Td (the ) Tj ET Q q 0 0 0 rg BT 286.24 243.20 Td (2015 ) Tj ET Q q 0 0 0 rg BT 304.10 243.20 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 343.73 243.20 Td (Notes ) Tj ET Q q 0 0 0 rg BT 364.25 243.20 Td (that ) Tj ET Q q 0 0 0 rg BT 378.10 243.20 Td (we ) Tj ET Q q 0 0 0 rg BT 389.29 243.20 Td (are ) Tj ET Q q 0 0 0 rg BT 400.91 243.20 Td (required ) Tj ET Q q 0 0 0 rg BT 429.42 243.20 Td (to ) Tj ET Q q 0 0 0 rg BT 437.51 243.20 Td (pay ) Tj ET Q q 0 0 0 rg BT 450.91 243.20 Td (in ) Tj ET Q q 0 0 0 rg BT 459.00 243.20 Td (cash, ) Tj ET Q q 0 0 0 rg BT 477.07 243.20 Td (which ) Tj ET Q q 0 0 0 rg BT 498.48 243.20 Td (amount ) Tj ET Q q 0 0 0 rg BT 524.33 243.20 Td (to ) Tj ET Q q 0 0 0 rg BT 532.41 243.20 Td (US$ ) Tj ET Q q 0 0 0 rg BT 548.50 243.20 Td (13.1 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 233.60 Td (million ) Tj ET Q q 0 0 0 rg BT 75.16 233.60 Td (in ) Tj ET Q q 0 0 0 rg BT 83.93 233.60 Td (2015. ) Tj ET Q q 0 0 0 rg BT 104.29 233.60 Td (The ) Tj ET Q q 0 0 0 rg BT 119.27 233.60 Td (principal ) Tj ET Q q 0 0 0 rg BT 150.25 233.60 Td (amount ) Tj ET Q q 0 0 0 rg BT 176.79 233.60 Td (of ) Tj ET Q q 0 0 0 rg BT 186.00 233.60 Td (senior ) Tj ET Q q 0 0 0 rg BT 208.09 233.60 Td (debt ) Tj ET Q q 0 0 0 rg BT 224.41 233.60 Td (and ) Tj ET Q q 0 0 0 rg BT 238.51 233.60 Td (credit ) Tj ET Q q 0 0 0 rg BT 259.26 233.60 Td (facilities ) Tj ET Q q 0 0 0 rg BT 289.35 233.60 Td (was ) Tj ET Q q 0 0 0 rg BT 304.34 233.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.11 233.60 Td (1,061.8 ) Tj ET Q q 0 0 0 rg BT 347.65 233.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.77 233.60 Td ( ) Tj ET Q q 0 0 0 rg BT 373.31 233.60 Td (at ) Tj ET Q q 0 0 0 rg BT 381.63 233.60 Td (December ) Tj ET Q q 0 0 0 rg BT 417.04 233.60 Td (31, ) Tj ET Q q 0 0 0 rg BT 429.59 233.60 Td (2014, ) Tj ET Q q 0 0 0 rg BT 450.13 233.60 Td (out ) Tj ET Q q 0 0 0 rg BT 462.90 233.60 Td (of ) Tj ET Q q 0 0 0 rg BT 472.11 233.60 Td (which ) Tj ET Q q 0 0 0 rg BT 494.20 233.60 Td (US$ ) Tj ET Q q 0 0 0 rg BT 510.98 233.60 Td (753.9 ) Tj ET Q q 0 0 0 rg BT 531.52 233.60 Td (million ) Tj ET Q q 0 0 0 rg BT 557.18 233.60 Td (is ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 224.00 Td (denominated ) Tj ET Q q 0 0 0 rg BT 92.82 224.00 Td (in ) Tj ET Q q 0 0 0 rg BT 101.04 224.00 Td (dollars.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 208.40 Td (During ) Tj ET Q q 0 0 0 rg BT 74.00 208.40 Td (2014 ) Tj ET Q q 0 0 0 rg BT 91.84 208.40 Td (we ) Tj ET Q q 0 0 0 rg BT 103.01 208.40 Td (made ) Tj ET Q q 0 0 0 rg BT 122.17 208.40 Td (significant ) Tj ET Q q 0 0 0 rg BT 157.78 208.40 Td (progress ) Tj ET Q q 0 0 0 rg BT 186.72 208.40 Td (regaining ) Tj ET Q q 0 0 0 rg BT 218.77 208.40 Td (television ) Tj ET Q q 0 0 0 rg BT 251.72 208.40 Td (advertising ) Tj ET Q q 0 0 0 rg BT 289.10 208.40 Td (market ) Tj ET Q q 0 0 0 rg BT 313.15 208.40 Td (share ) Tj ET Q q 0 0 0 rg BT 331.87 208.40 Td (lost ) Tj ET Q q 0 0 0 rg BT 345.27 208.40 Td (in ) Tj ET Q q 0 0 0 rg BT 353.33 208.40 Td (the ) Tj ET Q q 0 0 0 rg BT 364.94 208.40 Td (Czech ) Tj ET Q q 0 0 0 rg BT 386.77 208.40 Td (Republic ) Tj ET Q q 0 0 0 rg BT 417.49 208.40 Td (during ) Tj ET Q q 0 0 0 rg BT 440.22 208.40 Td (2013, ) Tj ET Q q 0 0 0 rg BT 460.06 208.40 Td (growing ) Tj ET Q q 0 0 0 rg BT 488.56 208.40 Td (from ) Tj ET Q q 0 0 0 rg BT 505.95 208.40 Td (an ) Tj ET Q q 0 0 0 rg BT 515.34 208.40 Td (estimated ) Tj ET Q q 0 0 0 rg BT 547.83 208.40 Td (49% ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 198.80 Td (market ) Tj ET Q q 0 0 0 rg BT 73.72 198.80 Td (share ) Tj ET Q q 0 0 0 rg BT 92.62 198.80 Td (in ) Tj ET Q q 0 0 0 rg BT 100.85 198.80 Td (2013 ) Tj ET Q q 0 0 0 rg BT 118.86 198.80 Td (to ) Tj ET Q q 0 0 0 rg BT 127.10 198.80 Td (60% ) Tj ET Q q 0 0 0 rg BT 143.78 198.80 Td (in ) Tj ET Q q 0 0 0 rg BT 152.01 198.80 Td (2014, ) Tj ET Q q 0 0 0 rg BT 172.02 198.80 Td (which ) Tj ET Q q 0 0 0 rg BT 193.59 198.80 Td (is ) Tj ET Q q 0 0 0 rg BT 200.94 198.80 Td (still ) Tj ET Q q 0 0 0 rg BT 214.95 198.80 Td (less ) Tj ET Q q 0 0 0 rg BT 228.96 198.80 Td (than ) Tj ET Q q 0 0 0 rg BT 244.75 198.80 Td (our ) Tj ET Q q 0 0 0 rg BT 257.43 198.80 Td (market ) Tj ET Q q 0 0 0 rg BT 281.65 198.80 Td (share ) Tj ET Q q 0 0 0 rg BT 300.54 198.80 Td (of ) Tj ET Q q 0 0 0 rg BT 309.22 198.80 Td (65% ) Tj ET Q q 0 0 0 rg BT 325.90 198.80 Td (in ) Tj ET Q q 0 0 0 rg BT 334.13 198.80 Td (2012. ) Tj ET Q q 0 0 0 rg BT 354.00 198.80 Td (W) Tj ET Q q 0 0 0 rg BT 360.91 198.80 Td (e ) Tj ET Q q 0 0 0 rg BT 366.47 198.80 Td (expect ) Tj ET Q q 0 0 0 rg BT 389.36 198.80 Td (to ) Tj ET Q q 0 0 0 rg BT 397.60 198.80 Td (regain ) Tj ET Q q 0 0 0 rg BT 419.60 198.80 Td (additional ) Tj ET Q q 0 0 0 rg BT 453.60 198.80 Td (market ) Tj ET Q q 0 0 0 rg BT 477.83 198.80 Td (share ) Tj ET Q q 0 0 0 rg BT 496.72 198.80 Td (during ) Tj ET Q q 0 0 0 rg BT 519.62 198.80 Td (2015 ) Tj ET Q q 0 0 0 rg BT 537.63 198.80 Td (through ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 189.20 Td (an ) Tj ET Q q 0 0 0 rg BT 58.54 189.20 Td (increase ) Tj ET Q q 0 0 0 rg BT 86.23 189.20 Td (in ) Tj ET Q q 0 0 0 rg BT 93.94 189.20 Td (the ) Tj ET Q q 0 0 0 rg BT 105.20 189.20 Td (volume ) Tj ET Q q 0 0 0 rg BT 130.69 189.20 Td (of ) Tj ET Q q 0 0 0 rg BT 138.84 189.20 Td (advertising ) Tj ET Q q 0 0 0 rg BT 175.88 189.20 Td (sold ) Tj ET Q q 0 0 0 rg BT 190.70 189.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 223.73 189.20 Td (to ) Tj ET Q q 0 0 0 rg BT 231.44 189.20 Td (2014. ) Tj ET Q q 0 0 0 rg BT 250.82 189.20 Td (While ) Tj ET Q q 0 0 0 rg BT 271.85 189.20 Td (we ) Tj ET Q q 0 0 0 rg BT 282.67 189.20 Td (anticipate ) Tj ET Q q 0 0 0 rg BT 315.25 189.20 Td (television ) Tj ET Q q 0 0 0 rg BT 347.85 189.20 Td (advertising ) Tj ET Q q 0 0 0 rg BT 384.88 189.20 Td (revenues ) Tj ET Q q 0 0 0 rg BT 414.80 189.20 Td (in ) Tj ET Q q 0 0 0 rg BT 422.51 189.20 Td (the ) Tj ET Q q 0 0 0 rg BT 433.77 189.20 Td (Czech ) Tj ET Q q 0 0 0 rg BT 455.25 189.20 Td (Republic ) Tj ET Q q 0 0 0 rg BT 485.62 189.20 Td (and ) Tj ET Q q 0 0 0 rg BT 498.66 189.20 Td (the ) Tj ET Q q 0 0 0 rg BT 509.92 189.20 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 533.63 189.20 Td (Republic ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 179.60 Td (will ) Tj ET Q q 0 0 0 rg BT 64.52 179.60 Td (increase ) Tj ET Q q 0 0 0 rg BT 93.30 179.60 Td (during ) Tj ET Q q 0 0 0 rg BT 116.77 179.60 Td (2015, ) Tj ET Q q 0 0 0 rg BT 137.34 179.60 Td (we ) Tj ET Q q 0 0 0 rg BT 149.25 179.60 Td (do ) Tj ET Q q 0 0 0 rg BT 159.83 179.60 Td (not ) Tj ET Q q 0 0 0 rg BT 172.63 179.60 Td (expect ) Tj ET Q q 0 0 0 rg BT 196.08 179.60 Td (the ) Tj ET Q q 0 0 0 rg BT 208.43 179.60 Td (magnitude ) Tj ET Q q 0 0 0 rg BT 244.78 179.60 Td (of ) Tj ET Q q 0 0 0 rg BT 254.02 179.60 Td (the ) Tj ET Q q 0 0 0 rg BT 266.37 179.60 Td (increase ) Tj ET Q q 0 0 0 rg BT 295.15 179.60 Td (to ) Tj ET Q q 0 0 0 rg BT 303.95 179.60 Td (be ) Tj ET Q q 0 0 0 rg BT 314.08 179.60 Td (as ) Tj ET Q q 0 0 0 rg BT 323.32 179.60 Td (lar) Tj ET Q q 0 0 0 rg BT 331.61 179.60 Td (ge ) Tj ET Q q 0 0 0 rg BT 341.74 179.60 Td (as ) Tj ET Q q 0 0 0 rg BT 350.98 179.60 Td (in ) Tj ET Q q 0 0 0 rg BT 359.78 179.60 Td (2014, ) Tj ET Q q 0 0 0 rg BT 380.36 179.60 Td (when ) Tj ET Q q 0 0 0 rg BT 400.26 179.60 Td (the ) Tj ET Q q 0 0 0 rg BT 412.61 179.60 Td (increase ) Tj ET Q q 0 0 0 rg BT 441.39 179.60 Td (was ) Tj ET Q q 0 0 0 rg BT 456.41 179.60 Td (due ) Tj ET Q q 0 0 0 rg BT 470.54 179.60 Td (to ) Tj ET Q q 0 0 0 rg BT 479.34 179.60 Td (a ) Tj ET Q q 0 0 0 rg BT 485.47 179.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 521.81 179.60 Td (extent ) Tj ET Q q 0 0 0 rg BT 543.94 179.60 Td (to ) Tj ET Q q 0 0 0 rg BT 552.74 179.60 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 170.00 Td (introduction ) Tj ET Q q 0 0 0 rg BT 90.61 170.00 Td (of ) Tj ET Q q 0 0 0 rg BT 99.27 170.00 Td (a ) Tj ET Q q 0 0 0 rg BT 104.82 170.00 Td (new ) Tj ET Q q 0 0 0 rg BT 120.15 170.00 Td (sales ) Tj ET Q q 0 0 0 rg BT 137.70 170.00 Td (policy ) Tj ET Q q 0 0 0 rg BT 159.70 170.00 Td (in ) Tj ET Q q 0 0 0 rg BT 167.92 170.00 Td (the ) Tj ET Q q 0 0 0 rg BT 179.69 170.00 Td (Czech ) Tj ET Q q 0 0 0 rg BT 201.68 170.00 Td (Republic.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 154.40 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 154.40 Td (e ) Tj ET Q q 0 0 0 rg BT 61.39 154.40 Td (also ) Tj ET Q q 0 0 0 rg BT 75.71 154.40 Td (made ) Tj ET Q q 0 0 0 rg BT 94.47 154.40 Td (significant ) Tj ET Q q 0 0 0 rg BT 129.68 154.40 Td (progress ) Tj ET Q q 0 0 0 rg BT 158.21 154.40 Td (during ) Tj ET Q q 0 0 0 rg BT 180.54 154.40 Td (2014 ) Tj ET Q q 0 0 0 rg BT 197.97 154.40 Td (towards ) Tj ET Q q 0 0 0 rg BT 224.73 154.40 Td (achieving ) Tj ET Q q 0 0 0 rg BT 257.26 154.40 Td (a ) Tj ET Q q 0 0 0 rg BT 262.25 154.40 Td (better ) Tj ET Q q 0 0 0 rg BT 281.89 154.40 Td (return ) Tj ET Q q 0 0 0 rg BT 302.43 154.40 Td (on ) Tj ET Q q 0 0 0 rg BT 311.86 154.40 Td (our ) Tj ET Q q 0 0 0 rg BT 323.96 154.40 Td (content ) Tj ET Q q 0 0 0 rg BT 348.94 154.40 Td (by ) Tj ET Q q 0 0 0 rg BT 358.37 154.40 Td (char) Tj ET Q q 0 0 0 rg BT 371.99 154.40 Td (ging ) Tj ET Q q 0 0 0 rg BT 387.65 154.40 Td (higher ) Tj ET Q q 0 0 0 rg BT 409.52 154.40 Td (carriage ) Tj ET Q q 0 0 0 rg BT 436.71 154.40 Td (fees ) Tj ET Q q 0 0 0 rg BT 451.02 154.40 Td (to ) Tj ET Q q 0 0 0 rg BT 458.68 154.40 Td (carriers ) Tj ET Q q 0 0 0 rg BT 484.09 154.40 Td (distributing ) Tj ET Q q 0 0 0 rg BT 522.41 154.40 Td (our ) Tj ET Q q 0 0 0 rg BT 534.51 154.40 Td (channels ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 144.80 Td (on ) Tj ET Q q 0 0 0 rg BT 58.97 144.80 Td (their ) Tj ET Q q 0 0 0 rg BT 75.09 144.80 Td (platforms, ) Tj ET Q q 0 0 0 rg BT 109.22 144.80 Td (including ) Tj ET Q q 0 0 0 rg BT 140.91 144.80 Td (satellite, ) Tj ET Q q 0 0 0 rg BT 169.25 144.80 Td (cable ) Tj ET Q q 0 0 0 rg BT 187.59 144.80 Td (and ) Tj ET Q q 0 0 0 rg BT 200.61 144.80 Td (IPTV) Tj ET Q q 0 0 0 rg BT 217.36 144.80 Td (, ) Tj ET Q q 0 0 0 rg BT 220.82 144.80 Td (which ) Tj ET Q q 0 0 0 rg BT 241.84 144.80 Td (better ) Tj ET Q q 0 0 0 rg BT 261.52 144.80 Td (reflects ) Tj ET Q q 0 0 0 rg BT 286.53 144.80 Td (the ) Tj ET Q q 0 0 0 rg BT 297.77 144.80 Td (value ) Tj ET Q q 0 0 0 rg BT 316.56 144.80 Td (those ) Tj ET Q q 0 0 0 rg BT 334.91 144.80 Td (carriers ) Tj ET Q q 0 0 0 rg BT 360.36 144.80 Td (are ) Tj ET Q q 0 0 0 rg BT 371.59 144.80 Td (deriving ) Tj ET Q q 0 0 0 rg BT 399.72 144.80 Td (from ) Tj ET Q q 0 0 0 rg BT 416.73 144.80 Td (transmitting ) Tj ET Q q 0 0 0 rg BT 456.87 144.80 Td (our ) Tj ET Q q 0 0 0 rg BT 469.00 144.80 Td (channels. ) Tj ET Q q 0 0 0 rg BT 500.13 144.80 Td (As ) Tj ET Q q 0 0 0 rg BT 510.48 144.80 Td (a ) Tj ET Q q 0 0 0 rg BT 515.50 144.80 Td (result, ) Tj ET Q q 0 0 0 rg BT 536.74 144.80 Td (carriage ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 135.20 Td (fees ) Tj ET Q q 0 0 0 rg BT 64.62 135.20 Td (and ) Tj ET Q q 0 0 0 rg BT 78.41 135.20 Td (subscription ) Tj ET Q q 0 0 0 rg BT 119.75 135.20 Td (revenues ) Tj ET Q q 0 0 0 rg BT 150.42 135.20 Td (in ) Tj ET Q q 0 0 0 rg BT 158.88 135.20 Td (2014 ) Tj ET Q q 0 0 0 rg BT 177.12 135.20 Td (comprised ) Tj ET Q q 0 0 0 rg BT 212.68 135.20 Td (23% ) Tj ET Q q 0 0 0 rg BT 229.59 135.20 Td (of ) Tj ET Q q 0 0 0 rg BT 238.49 135.20 Td (net ) Tj ET Q q 0 0 0 rg BT 250.50 135.20 Td (revenues ) Tj ET Q q 0 0 0 rg BT 281.17 135.20 Td (in ) Tj ET Q q 0 0 0 rg BT 289.63 135.20 Td (Bulgaria ) Tj ET Q q 0 0 0 rg BT 319.41 135.20 Td (and ) Tj ET Q q 0 0 0 rg BT 333.20 135.20 Td (26% ) Tj ET Q q 0 0 0 rg BT 350.11 135.20 Td (of ) Tj ET Q q 0 0 0 rg BT 359.01 135.20 Td (net ) Tj ET Q q 0 0 0 rg BT 371.02 135.20 Td (revenues ) Tj ET Q q 0 0 0 rg BT 401.69 135.20 Td (in ) Tj ET Q q 0 0 0 rg BT 410.15 135.20 Td (Romania. ) Tj ET Q q 0 0 0 rg BT 443.11 135.20 Td (W) Tj ET Q q 0 0 0 rg BT 450.02 135.20 Td (e ) Tj ET Q q 0 0 0 rg BT 455.81 135.20 Td (have ) Tj ET Q q 0 0 0 rg BT 473.15 135.20 Td (now ) Tj ET Q q 0 0 0 rg BT 489.16 135.20 Td (realized ) Tj ET Q q 0 0 0 rg BT 516.71 135.20 Td (the ) Tj ET Q q 0 0 0 rg BT 528.73 135.20 Td (significant ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 125.60 Td (step-up ) Tj ET Q q 0 0 0 rg BT 75.47 125.60 Td (in ) Tj ET Q q 0 0 0 rg BT 84.11 125.60 Td (rates ) Tj ET Q q 0 0 0 rg BT 101.63 125.60 Td (in ) Tj ET Q q 0 0 0 rg BT 110.27 125.60 Td (those ) Tj ET Q q 0 0 0 rg BT 129.57 125.60 Td (countries ) Tj ET Q q 0 0 0 rg BT 161.32 125.60 Td (during ) Tj ET Q q 0 0 0 rg BT 184.62 125.60 Td (negotiations ) Tj ET Q q 0 0 0 rg BT 226.14 125.60 Td (concluded ) Tj ET Q q 0 0 0 rg BT 261.44 125.60 Td (in ) Tj ET Q q 0 0 0 rg BT 270.08 125.60 Td (2013, ) Tj ET Q q 0 0 0 rg BT 290.50 125.60 Td (so ) Tj ET Q q 0 0 0 rg BT 300.03 125.60 Td (growth ) Tj ET Q q 0 0 0 rg BT 325.11 125.60 Td (in ) Tj ET Q q 0 0 0 rg BT 333.75 125.60 Td (2015 ) Tj ET Q q 0 0 0 rg BT 352.17 125.60 Td (will ) Tj ET Q q 0 0 0 rg BT 367.03 125.60 Td (be ) Tj ET Q q 0 0 0 rg BT 377.00 125.60 Td (more ) Tj ET Q q 0 0 0 rg BT 395.86 125.60 Td (moderate ) Tj ET Q q 0 0 0 rg BT 428.04 125.60 Td (and ) Tj ET Q q 0 0 0 rg BT 442.00 125.60 Td (result ) Tj ET Q q 0 0 0 rg BT 462.20 125.60 Td (primarily ) Tj ET Q q 0 0 0 rg BT 494.38 125.60 Td (from ) Tj ET Q q 0 0 0 rg BT 512.35 125.60 Td (increases ) Tj ET Q q 0 0 0 rg BT 544.09 125.60 Td (in ) Tj ET Q q 0 0 0 rg BT 552.73 125.60 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 116.00 Td (subscriber ) Tj ET Q q 0 0 0 rg BT 84.20 116.00 Td (base. ) Tj ET Q q 0 0 0 rg BT 102.11 116.00 Td (W) Tj ET Q q 0 0 0 rg BT 109.02 116.00 Td (e ) Tj ET Q q 0 0 0 rg BT 114.39 116.00 Td (also ) Tj ET Q q 0 0 0 rg BT 129.10 116.00 Td (recently ) Tj ET Q q 0 0 0 rg BT 156.69 116.00 Td (concluded ) Tj ET Q q 0 0 0 rg BT 191.39 116.00 Td (carriage ) Tj ET Q q 0 0 0 rg BT 218.96 116.00 Td (fee ) Tj ET Q q 0 0 0 rg BT 230.55 116.00 Td (negotiations ) Tj ET Q q 0 0 0 rg BT 271.48 116.00 Td (in ) Tj ET Q q 0 0 0 rg BT 279.53 116.00 Td (the ) Tj ET Q q 0 0 0 rg BT 291.12 116.00 Td (Czech ) Tj ET Q q 0 0 0 rg BT 312.93 116.00 Td (Republic; ) Tj ET Q q 0 0 0 rg BT 345.86 116.00 Td (however) Tj ET Q q 0 0 0 rg BT 373.09 116.00 Td (, ) Tj ET Q q 0 0 0 rg BT 376.91 116.00 Td (given ) Tj ET Q q 0 0 0 rg BT 396.51 116.00 Td (the ) Tj ET Q q 0 0 0 rg BT 408.10 116.00 Td (higher ) Tj ET Q q 0 0 0 rg BT 430.36 116.00 Td (penetration ) Tj ET Q q 0 0 0 rg BT 468.17 116.00 Td (of ) Tj ET Q q 0 0 0 rg BT 476.66 116.00 Td (digital ) Tj ET Q q 0 0 0 rg BT 498.92 116.00 Td (terrestrial ) Tj ET Q q 0 0 0 rg BT 531.39 116.00 Td (television ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 106.40 Td (and ) Tj ET Q q 0 0 0 rg BT 63.61 106.40 Td (fewer ) Tj ET Q q 0 0 0 rg BT 84.38 106.40 Td (television ) Tj ET Q q 0 0 0 rg BT 118.04 106.40 Td (households ) Tj ET Q q 0 0 0 rg BT 156.60 106.40 Td (compared ) Tj ET Q q 0 0 0 rg BT 190.70 106.40 Td (to ) Tj ET Q q 0 0 0 rg BT 199.48 106.40 Td (Bulgaria ) Tj ET Q q 0 0 0 rg BT 229.58 106.40 Td (and ) Tj ET Q q 0 0 0 rg BT 243.69 106.40 Td (Romania, ) Tj ET Q q 0 0 0 rg BT 277.13 106.40 Td (levels ) Tj ET Q q 0 0 0 rg BT 298.35 106.40 Td (of ) Tj ET Q q 0 0 0 rg BT 307.57 106.40 Td (carriage ) Tj ET Q q 0 0 0 rg BT 335.89 106.40 Td (fees ) Tj ET Q q 0 0 0 rg BT 351.32 106.40 Td (are ) Tj ET Q q 0 0 0 rg BT 363.65 106.40 Td (expected ) Tj ET Q q 0 0 0 rg BT 394.63 106.40 Td (to ) Tj ET Q q 0 0 0 rg BT 403.41 106.40 Td (be ) Tj ET Q q 0 0 0 rg BT 413.52 106.40 Td (lower ) Tj ET Q q 0 0 0 rg BT 434.30 106.40 Td (in ) Tj ET Q q 0 0 0 rg BT 443.08 106.40 Td (the ) Tj ET Q q 0 0 0 rg BT 455.41 106.40 Td (Czech ) Tj ET Q q 0 0 0 rg BT 477.96 106.40 Td (Republic ) Tj ET Q q 0 0 0 rg BT 509.40 106.40 Td (and ) Tj ET Q q 0 0 0 rg BT 523.51 106.40 Td (the ) Tj ET Q q 0 0 0 rg BT 535.84 106.40 Td (absolute ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 96.80 Td (increase ) Tj ET Q q 0 0 0 rg BT 77.70 96.80 Td (in ) Tj ET Q q 0 0 0 rg BT 85.93 96.80 Td (carriage ) Tj ET Q q 0 0 0 rg BT 113.68 96.80 Td (fees ) Tj ET Q q 0 0 0 rg BT 128.56 96.80 Td (and ) Tj ET Q q 0 0 0 rg BT 142.11 96.80 Td (subscription ) Tj ET Q q 0 0 0 rg BT 183.22 96.80 Td (revenues ) Tj ET Q q 0 0 0 rg BT 213.65 96.80 Td (in ) Tj ET Q q 0 0 0 rg BT 221.87 96.80 Td (the ) Tj ET Q q 0 0 0 rg BT 233.64 96.80 Td (Czech ) Tj ET Q q 0 0 0 rg BT 255.63 96.80 Td (Republic ) Tj ET Q q 0 0 0 rg BT 286.52 96.80 Td (during ) Tj ET Q q 0 0 0 rg BT 309.40 96.80 Td (2015 ) Tj ET Q q 0 0 0 rg BT 327.40 96.80 Td (is ) Tj ET Q q 0 0 0 rg BT 334.74 96.80 Td (also ) Tj ET Q q 0 0 0 rg BT 349.63 96.80 Td (expected ) Tj ET Q q 0 0 0 rg BT 380.05 96.80 Td (to ) Tj ET Q q 0 0 0 rg BT 388.27 96.80 Td (be ) Tj ET Q q 0 0 0 rg BT 397.82 96.80 Td (moderate ) Tj ET Q q 0 0 0 rg BT 429.59 96.80 Td (relative ) Tj ET Q q 0 0 0 rg BT 455.57 96.80 Td (to ) Tj ET Q q 0 0 0 rg BT 463.79 96.80 Td (2014.) Tj ET Q endstream endobj 59 0 obj <>] /Rotate 0 /Contents 60 0 R>> endobj 60 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (27) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 723.50 Td (Competition ) Tj ET Q q 0 0 0 rg BT 91.43 723.50 Td (for ) Tj ET Q q 0 0 0 rg BT 102.69 723.50 Td (audience ) Tj ET Q q 0 0 0 rg BT 133.04 723.50 Td (share ) Tj ET Q q 0 0 0 rg BT 151.85 723.50 Td (during ) Tj ET Q q 0 0 0 rg BT 174.67 723.50 Td (2014 ) Tj ET Q q 0 0 0 rg BT 192.60 723.50 Td (was ) Tj ET Q q 0 0 0 rg BT 206.97 723.50 Td (fierce ) Tj ET Q q 0 0 0 rg BT 227.10 723.50 Td (in ) Tj ET Q q 0 0 0 rg BT 235.25 723.50 Td (certain ) Tj ET Q q 0 0 0 rg BT 258.95 723.50 Td (markets, ) Tj ET Q q 0 0 0 rg BT 288.20 723.50 Td (and ) Tj ET Q q 0 0 0 rg BT 301.68 723.50 Td (we ) Tj ET Q q 0 0 0 rg BT 312.94 723.50 Td (demonstrated ) Tj ET Q q 0 0 0 rg BT 357.96 723.50 Td (that ) Tj ET Q q 0 0 0 rg BT 371.89 723.50 Td (we ) Tj ET Q q 0 0 0 rg BT 383.15 723.50 Td (are ) Tj ET Q q 0 0 0 rg BT 394.84 723.50 Td (able ) Tj ET Q q 0 0 0 rg BT 410.10 723.50 Td (to ) Tj ET Q q 0 0 0 rg BT 418.25 723.50 Td (maintain ) Tj ET Q q 0 0 0 rg BT 448.17 723.50 Td (our ) Tj ET Q q 0 0 0 rg BT 460.77 723.50 Td (audience ) Tj ET Q q 0 0 0 rg BT 491.12 723.50 Td (share ) Tj ET Q q 0 0 0 rg BT 509.93 723.50 Td (leadership ) Tj ET Q q 0 0 0 rg BT 544.73 723.50 Td (while ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 713.90 Td (controlling ) Tj ET Q q 0 0 0 rg BT 86.72 713.90 Td (content ) Tj ET Q q 0 0 0 rg BT 112.38 713.90 Td (costs ) Tj ET Q q 0 0 0 rg BT 130.50 713.90 Td (by ) Tj ET Q q 0 0 0 rg BT 140.62 713.90 Td (making ) Tj ET Q q 0 0 0 rg BT 166.73 713.90 Td (ef) Tj ET Q q 0 0 0 rg BT 172.80 713.90 Td (fective ) Tj ET Q q 0 0 0 rg BT 196.68 713.90 Td (tar) Tj ET Q q 0 0 0 rg BT 204.97 713.90 Td (geted ) Tj ET Q q 0 0 0 rg BT 224.41 713.90 Td (investments ) Tj ET Q q 0 0 0 rg BT 264.75 713.90 Td (in ) Tj ET Q q 0 0 0 rg BT 273.08 713.90 Td (programming ) Tj ET Q q 0 0 0 rg BT 318.75 713.90 Td (and ) Tj ET Q q 0 0 0 rg BT 332.42 713.90 Td (using ) Tj ET Q q 0 0 0 rg BT 351.87 713.90 Td (our ) Tj ET Q q 0 0 0 rg BT 364.65 713.90 Td (existing ) Tj ET Q q 0 0 0 rg BT 392.10 713.90 Td (program ) Tj ET Q q 0 0 0 rg BT 421.31 713.90 Td (library ) Tj ET Q q 0 0 0 rg BT 444.75 713.90 Td (more ) Tj ET Q q 0 0 0 rg BT 463.31 713.90 Td (ef) Tj ET Q q 0 0 0 rg BT 469.38 713.90 Td (ficiently) Tj ET Q q 0 0 0 rg BT 495.51 713.90 Td (. ) Tj ET Q q 0 0 0 rg BT 499.48 713.90 Td (W) Tj ET Q q 0 0 0 rg BT 506.39 713.90 Td (e ) Tj ET Q q 0 0 0 rg BT 512.06 713.90 Td (will ) Tj ET Q q 0 0 0 rg BT 526.62 713.90 Td (continue ) Tj ET Q q 0 0 0 rg BT 556.28 713.90 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 704.30 Td (implement ) Tj ET Q q 0 0 0 rg BT 86.63 704.30 Td (cost ) Tj ET Q q 0 0 0 rg BT 102.43 704.30 Td (ef) Tj ET Q q 0 0 0 rg BT 108.50 704.30 Td (ficiencies ) Tj ET Q q 0 0 0 rg BT 142.07 704.30 Td (in ) Tj ET Q q 0 0 0 rg BT 151.21 704.30 Td (our ) Tj ET Q q 0 0 0 rg BT 164.79 704.30 Td (local ) Tj ET Q q 0 0 0 rg BT 183.25 704.30 Td (productions ) Tj ET Q q 0 0 0 rg BT 223.94 704.30 Td (keeping ) Tj ET Q q 0 0 0 rg BT 252.18 704.30 Td (in ) Tj ET Q q 0 0 0 rg BT 261.32 704.30 Td (mind ) Tj ET Q q 0 0 0 rg BT 280.68 704.30 Td (our ) Tj ET Q q 0 0 0 rg BT 294.26 704.30 Td (strategy ) Tj ET Q q 0 0 0 rg BT 322.50 704.30 Td (of ) Tj ET Q q 0 0 0 rg BT 332.08 704.30 Td (maintaining ) Tj ET Q q 0 0 0 rg BT 373.21 704.30 Td (our ) Tj ET Q q 0 0 0 rg BT 386.79 704.30 Td (leading ) Tj ET Q q 0 0 0 rg BT 413.25 704.30 Td (audience ) Tj ET Q q 0 0 0 rg BT 444.60 704.30 Td (shares. ) Tj ET Q q 0 0 0 rg BT 469.29 704.30 Td (W) Tj ET Q q 0 0 0 rg BT 476.20 704.30 Td (e ) Tj ET Q q 0 0 0 rg BT 482.67 704.30 Td (expect ) Tj ET Q q 0 0 0 rg BT 506.46 704.30 Td (to ) Tj ET Q q 0 0 0 rg BT 515.60 704.30 Td (pursue ) Tj ET Q q 0 0 0 rg BT 539.84 704.30 Td (limited ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 694.70 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 92.20 694.70 Td (initiatives ) Tj ET Q q 0 0 0 rg BT 125.58 694.70 Td (in ) Tj ET Q q 0 0 0 rg BT 133.63 694.70 Td (2015 ) Tj ET Q q 0 0 0 rg BT 151.45 694.70 Td (and ) Tj ET Q q 0 0 0 rg BT 164.83 694.70 Td (expect ) Tj ET Q q 0 0 0 rg BT 187.53 694.70 Td (to ) Tj ET Q q 0 0 0 rg BT 195.58 694.70 Td (incur ) Tj ET Q q 0 0 0 rg BT 213.84 694.70 Td (related ) Tj ET Q q 0 0 0 rg BT 237.43 694.70 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 280.13 694.70 Td (char) Tj ET Q q 0 0 0 rg BT 293.75 694.70 Td (ges. ) Tj ET Q q 0 0 0 rg BT 308.11 694.70 Td (The ) Tj ET Q q 0 0 0 rg BT 322.38 694.70 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 365.08 694.70 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.13 694.70 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.13 694.70 Td ( ) Tj ET Q q 0 0 0 rg BT 390.95 694.70 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.33 694.70 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.33 694.70 Td ( ) Tj ET Q q 0 0 0 rg BT 422.16 694.70 Td (is ) Tj ET Q q 0 0 0 rg BT 429.32 694.70 Td (expected ) Tj ET Q q 0 0 0 rg BT 459.57 694.70 Td (to ) Tj ET Q q 0 0 0 rg BT 467.62 694.70 Td (result ) Tj ET Q q 0 0 0 rg BT 487.22 694.70 Td (in ) Tj ET Q q 0 0 0 rg BT 495.27 694.70 Td (a ) Tj ET Q q 0 0 0 rg BT 500.64 694.70 Td (total ) Tj ET Q q 0 0 0 rg BT 516.69 694.70 Td (personnel ) Tj ET Q q 0 0 0 rg BT 549.62 694.70 Td (cost ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 685.10 Td (savings ) Tj ET Q q 0 0 0 rg BT 75.50 685.10 Td (of ) Tj ET Q q 0 0 0 rg BT 84.16 685.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 132.37 685.10 Td (US$ ) Tj ET Q q 0 0 0 rg BT 148.60 685.10 Td (40.0 ) Tj ET Q q 0 0 0 rg BT 164.60 685.10 Td (million ) Tj ET Q q 0 0 0 rg BT 189.71 685.10 Td (in ) Tj ET Q q 0 0 0 rg BT 197.93 685.10 Td (2015 ) Tj ET Q q 0 0 0 rg BT 215.93 685.10 Td (when ) Tj ET Q q 0 0 0 rg BT 235.26 685.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 268.80 685.10 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.02 685.10 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.02 685.10 Td (. ) Tj ET Q q 0 0 0 rg BT 296.88 685.10 Td (These ) Tj ET Q q 0 0 0 rg BT 317.98 685.10 Td (personnel ) Tj ET Q q 0 0 0 rg BT 351.08 685.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 365.97 685.10 Td (savings ) Tj ET Q q 0 0 0 rg BT 391.97 685.10 Td (will ) Tj ET Q q 0 0 0 rg BT 406.41 685.10 Td (be ) Tj ET Q q 0 0 0 rg BT 415.96 685.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 444.62 685.10 Td (of) Tj ET Q q 0 0 0 rg BT 451.14 685.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 464.69 685.10 Td (by ) Tj ET Q q 0 0 0 rg BT 474.69 685.10 Td (increases ) Tj ET Q q 0 0 0 rg BT 506.01 685.10 Td (in ) Tj ET Q q 0 0 0 rg BT 514.23 685.10 Td (other ) Tj ET Q q 0 0 0 rg BT 532.67 685.10 Td (costs.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 669.50 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 669.50 Td (e ) Tj ET Q q 0 0 0 rg BT 61.93 669.50 Td (continue ) Tj ET Q q 0 0 0 rg BT 91.44 669.50 Td (to ) Tj ET Q q 0 0 0 rg BT 99.63 669.50 Td (believe ) Tj ET Q q 0 0 0 rg BT 124.69 669.50 Td (that ) Tj ET Q q 0 0 0 rg BT 138.65 669.50 Td (the ) Tj ET Q q 0 0 0 rg BT 150.39 669.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 183.47 669.50 Td (is ) Tj ET Q q 0 0 0 rg BT 190.77 669.50 Td (best ) Tj ET Q q 0 0 0 rg BT 205.62 669.50 Td (served ) Tj ET Q q 0 0 0 rg BT 228.47 669.50 Td (by ) Tj ET Q q 0 0 0 rg BT 238.43 669.50 Td (a ) Tj ET Q q 0 0 0 rg BT 243.95 669.50 Td (focus ) Tj ET Q q 0 0 0 rg BT 263.24 669.50 Td (on ) Tj ET Q q 0 0 0 rg BT 273.21 669.50 Td (our ) Tj ET Q q 0 0 0 rg BT 285.84 669.50 Td (television ) Tj ET Q q 0 0 0 rg BT 318.91 669.50 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 361.75 669.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 382.38 669.50 Td (in ) Tj ET Q q 0 0 0 rg BT 390.57 669.50 Td (each ) Tj ET Q q 0 0 0 rg BT 407.19 669.50 Td (country ) Tj ET Q q 0 0 0 rg BT 433.59 669.50 Td (and ) Tj ET Q q 0 0 0 rg BT 447.11 669.50 Td (have ) Tj ET Q q 0 0 0 rg BT 464.17 669.50 Td (made ) Tj ET Q q 0 0 0 rg BT 483.46 669.50 Td (significant ) Tj ET Q q 0 0 0 rg BT 519.20 669.50 Td (progress ) Tj ET Q q 0 0 0 rg BT 548.27 669.50 Td (with ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 659.90 Td (the ) Tj ET Q q 0 0 0 rg BT 60.80 659.90 Td (disposal ) Tj ET Q q 0 0 0 rg BT 88.54 659.90 Td (of ) Tj ET Q q 0 0 0 rg BT 96.73 659.90 Td (our ) Tj ET Q q 0 0 0 rg BT 108.92 659.90 Td (non-core ) Tj ET Q q 0 0 0 rg BT 138.87 659.90 Td (assets. ) Tj ET Q q 0 0 0 rg BT 160.95 659.90 Td (W) Tj ET Q q 0 0 0 rg BT 167.86 659.90 Td (e ) Tj ET Q q 0 0 0 rg BT 172.93 659.90 Td (sold ) Tj ET Q q 0 0 0 rg BT 187.79 659.90 Td (Bontonfilm ) Tj ET Q q 0 0 0 rg BT 226.21 659.90 Td (during ) Tj ET Q q 0 0 0 rg BT 248.62 659.90 Td (the ) Tj ET Q q 0 0 0 rg BT 259.91 659.90 Td (second ) Tj ET Q q 0 0 0 rg BT 283.65 659.90 Td (quarter ) Tj ET Q q 0 0 0 rg BT 307.83 659.90 Td (of ) Tj ET Q q 0 0 0 rg BT 316.02 659.90 Td (2014 ) Tj ET Q q 0 0 0 rg BT 333.54 659.90 Td (and ) Tj ET Q q 0 0 0 rg BT 346.61 659.90 Td (we ) Tj ET Q q 0 0 0 rg BT 357.46 659.90 Td (completed ) Tj ET Q q 0 0 0 rg BT 392.31 659.90 Td (the ) Tj ET Q q 0 0 0 rg BT 403.60 659.90 Td (divestiture ) Tj ET Q q 0 0 0 rg BT 438.90 659.90 Td (of ) Tj ET Q q 0 0 0 rg BT 447.09 659.90 Td (the ) Tj ET Q q 0 0 0 rg BT 458.38 659.90 Td (home ) Tj ET Q q 0 0 0 rg BT 477.68 659.90 Td (video ) Tj ET Q q 0 0 0 rg BT 496.98 659.90 Td (distribution ) Tj ET Q q 0 0 0 rg BT 535.39 659.90 Td (business ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 650.30 Td (in ) Tj ET Q q 0 0 0 rg BT 58.06 650.30 Td (Romania ) Tj ET Q q 0 0 0 rg BT 89.28 650.30 Td (during ) Tj ET Q q 0 0 0 rg BT 112.50 650.30 Td (the ) Tj ET Q q 0 0 0 rg BT 124.61 650.30 Td (fourth ) Tj ET Q q 0 0 0 rg BT 146.49 650.30 Td (quarter) Tj ET Q q 0 0 0 rg BT 168.70 650.30 Td (. ) Tj ET Q q 0 0 0 rg BT 172.87 650.30 Td (W) Tj ET Q q 0 0 0 rg BT 179.78 650.30 Td (e ) Tj ET Q q 0 0 0 rg BT 185.66 650.30 Td (also ) Tj ET Q q 0 0 0 rg BT 200.89 650.30 Td (sold ) Tj ET Q q 0 0 0 rg BT 216.56 650.30 Td (our ) Tj ET Q q 0 0 0 rg BT 229.56 650.30 Td (remaining ) Tj ET Q q 0 0 0 rg BT 264.32 650.30 Td (distribution ) Tj ET Q q 0 0 0 rg BT 303.55 650.30 Td (business ) Tj ET Q q 0 0 0 rg BT 333.00 650.30 Td (in ) Tj ET Q q 0 0 0 rg BT 341.56 650.30 Td (Romania ) Tj ET Q q 0 0 0 rg BT 372.77 650.30 Td (during ) Tj ET Q q 0 0 0 rg BT 396.00 650.30 Td (January ) Tj ET Q q 0 0 0 rg BT 423.21 650.30 Td (2015, ) Tj ET Q q 0 0 0 rg BT 443.54 650.30 Td (and ) Tj ET Q q 0 0 0 rg BT 457.43 650.30 Td (during ) Tj ET Q q 0 0 0 rg BT 480.65 650.30 Td (the ) Tj ET Q q 0 0 0 rg BT 492.76 650.30 Td (course ) Tj ET Q q 0 0 0 rg BT 515.97 650.30 Td (of ) Tj ET Q q 0 0 0 rg BT 524.97 650.30 Td (the ) Tj ET Q q 0 0 0 rg BT 537.08 650.30 Td (year ) Tj ET Q q 0 0 0 rg BT 553.18 650.30 Td (we ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 640.70 Td (expect ) Tj ET Q q 0 0 0 rg BT 72.38 640.70 Td (to ) Tj ET Q q 0 0 0 rg BT 80.60 640.70 Td (complete ) Tj ET Q q 0 0 0 rg BT 111.92 640.70 Td (the ) Tj ET Q q 0 0 0 rg BT 123.69 640.70 Td (disposal ) Tj ET Q q 0 0 0 rg BT 151.91 640.70 Td (of ) Tj ET Q q 0 0 0 rg BT 160.58 640.70 Td (our ) Tj ET Q q 0 0 0 rg BT 173.24 640.70 Td (radio, ) Tj ET Q q 0 0 0 rg BT 193.68 640.70 Td (studio, ) Tj ET Q q 0 0 0 rg BT 217.24 640.70 Td (cinema ) Tj ET Q q 0 0 0 rg BT 242.34 640.70 Td (and ) Tj ET Q q 0 0 0 rg BT 255.89 640.70 Td (music ) Tj ET Q q 0 0 0 rg BT 277.00 640.70 Td (businesses ) Tj ET Q q 0 0 0 rg BT 312.77 640.70 Td (in ) Tj ET Q q 0 0 0 rg BT 321.00 640.70 Td (Romania. ) Tj ET Q endstream endobj 61 0 obj <>] /Rotate 0 /Contents 62 0 R>> endobj 62 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (28) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 723.60 Td (II. ) Tj ET Q q 0 0 0 rg BT 76.50 723.60 Td (Analysis ) Tj ET Q q 0 0 0 rg BT 107.40 723.60 Td (of ) Tj ET Q q 0 0 0 rg BT 116.06 723.60 Td (the ) Tj ET Q q 0 0 0 rg BT 128.73 723.60 Td (Results ) Tj ET Q q 0 0 0 rg BT 155.62 723.60 Td (of ) Tj ET Q q 0 0 0 rg BT 164.28 723.60 Td (Operations ) Tj ET Q q 0 0 0 rg BT 204.50 723.60 Td (and ) Tj ET Q q 0 0 0 rg BT 219.40 723.60 Td (Financial ) Tj ET Q q 0 0 0 rg BT 253.41 723.60 Td (Position) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 668.10 111.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 668.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 668.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 668.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 668.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 668.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 668.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 668.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 668.10 9.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 668.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 668.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 668.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 668.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 668.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 668.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 668.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 642.10 111.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 642.10 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 642.10 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 642.10 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 642.10 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 642.10 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 642.10 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 642.10 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 642.10 9.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 642.10 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 642.10 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 642.10 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 642.10 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 642.10 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 642.10 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 642.10 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 608.10 111.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 608.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 608.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 608.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 608.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 608.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 608.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 608.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 608.10 9.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 608.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 608.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 608.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 608.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 608.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 608.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 608.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 582.10 111.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 582.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 582.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 582.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 582.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 582.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 582.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 582.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 582.10 9.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 582.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 582.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 582.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 582.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 582.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 582.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 582.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 556.10 111.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 556.10 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 556.10 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 556.10 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 556.10 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 556.10 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 556.10 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 556.10 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 556.10 9.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 556.10 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 556.10 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 556.10 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 556.10 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 556.10 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 556.10 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 556.10 46.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 514.10 111.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 514.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 514.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 514.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 514.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 514.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 514.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 514.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 514.10 9.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 514.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 514.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 514.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 514.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 514.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 514.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 514.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 480.10 111.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 480.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 480.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 480.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 480.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 480.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 480.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 480.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 480.10 9.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 480.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 480.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 480.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 480.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 480.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 480.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 480.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 454.10 111.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.50 454.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 454.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 454.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 454.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 454.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 454.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 454.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 454.10 9.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 454.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 454.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 454.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 454.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 454.10 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 454.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 454.10 46.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 694.1 m 206.5 694.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 206.5 694.1 m 210.5 694.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 694.1 m 256.5 694.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 694.1 m 260.5 694.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 694.1 m 306.5 694.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 694.1 m 310.5 694.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 694.1 m 356.5 694.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 694.1 m 365.5 694.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 694.1 m 411.5 694.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 694.1 m 415.5 694.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 694.1 m 461.5 694.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 694.1 m 465.5 694.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 694.1 m 511.5 694.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 694.1 m 515.5 694.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 694.1 m 561.5 694.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 681.1 m 306.5 681.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 681.1 m 310.5 681.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 681.1 m 356.5 681.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 681.1 m 511.5 681.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 681.1 m 515.5 681.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 681.1 m 561.5 681.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 668.1 m 206.5 668.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 668.1 m 256.5 668.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 668.1 m 306.5 668.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 668.1 m 356.5 668.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 668.1 m 411.5 668.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 668.1 m 461.5 668.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 668.1 m 511.5 668.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 668.1 m 561.5 668.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 608.1 m 206.5 608.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 608.1 m 256.5 608.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 608.1 m 411.5 608.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 608.1 m 461.5 608.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 514.1 m 206.5 514.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 514.1 m 256.5 514.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 514.1 m 411.5 514.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 514.1 m 461.5 514.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 454.1 m 206.5 454.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 442.1 m 206.5 442.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160.5 440.1 m 206.5 440.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 454.1 m 256.5 454.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 442.1 m 256.5 442.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 440.1 m 256.5 440.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 454.1 m 411.5 454.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 442.1 m 411.5 442.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 440.1 m 411.5 440.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 454.1 m 461.5 454.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 442.1 m 461.5 442.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 440.1 m 461.5 440.1 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 698.35 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 279.80 698.33 Td (For The Year Ending December 31, \(US$ 000's\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 685.35 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 163.00 685.35 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 213.00 685.35 Td () Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 290.65 685.33 Td (Movement) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 495.65 685.33 Td (Movement) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 672.35 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 187.00 672.33 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 237.00 672.33 Td (2013) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 283.50 672.33 Td (% Act) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 334.55 672.33 Td (% Lfl) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 392.00 672.33 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.00 672.33 Td (2012) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 488.50 672.33 Td (% Act) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 539.55 672.33 Td (% Lfl) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 659.33 Td (Revenue:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 646.35 Td (Television advertising) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 163.00 646.35 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 177.25 646.35 Td (565,601) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 213.00 646.35 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 227.25 646.35 Td (528,778) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 286.65 646.35 Td (7.0) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 299.30 646.35 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 336.65 646.35 Td (9.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.25 646.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.00 646.35 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.25 646.35 Td (528,778) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 646.35 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.25 646.35 Td (616,233) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 484.95 646.35 Td (\(14.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 501.65 646.35 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 534.95 646.35 Td (\(15.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 551.65 646.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 633.35 Td (Carriage fees and) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 625.35 Td (subscriptions) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.25 625.35 Td (80,487) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.25 625.35 Td (58,990) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 282.65 625.35 Td (36.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 299.30 625.35 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 332.65 625.35 Td (38.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.25 625.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.25 625.35 Td (58,990) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.25 625.35 Td (43,357) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.65 625.35 Td (36.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 504.30 625.35 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 537.65 625.35 Td (32.8) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.30 625.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 612.35 Td (Other revenue) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.25 612.35 Td (34,705) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.25 612.35 Td (45,366) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 279.95 612.35 Td (\(23.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 296.65 612.35 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 329.95 612.35 Td (\(22.0) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.65 612.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.25 612.35 Td (45,366) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.25 612.35 Td (46,409) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 488.95 612.35 Td (\(2.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 501.65 612.35 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 538.95 612.35 Td (\(4.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 551.65 612.35 Td (\)%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 599.33 Td (Net ) Tj ET Q q 0 0 0 rg BT 65.99 599.33 Td (Revenues) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 177.25 599.33 Td (680,793) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 227.25 599.33 Td (633,134) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 286.65 599.33 Td (7.5) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 299.30 599.33 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 332.65 599.33 Td (10.4) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 349.25 599.33 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.25 599.33 Td (633,134) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 432.25 599.33 Td (705,999) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 484.95 599.33 Td (\(10.3) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 501.65 599.33 Td (\)%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 534.95 599.33 Td (\(11.6) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 551.65 599.33 Td (\)%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 586.33 Td (Operating expenses:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 573.35 Td (Content costs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 177.25 573.35 Td (358,379) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 227.25 573.35 Td (422,115) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 279.95 573.35 Td (\(15.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 296.65 573.35 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 329.95 573.35 Td (\(12.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.65 573.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.25 573.35 Td (422,115) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.25 573.35 Td (365,684) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.65 573.35 Td (15.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 504.30 573.35 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 537.65 573.35 Td (13.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.30 573.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 560.35 Td (Other operating costs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.25 560.35 Td (85,478) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 227.25 560.35 Td (104,519) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 279.95 560.35 Td (\(18.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 296.65 560.35 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 329.95 560.35 Td (\(16.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.65 560.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.25 560.35 Td (104,519) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.25 560.35 Td (94,922) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.65 560.35 Td (10.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 504.30 560.35 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 541.65 560.35 Td (7.8) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.30 560.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 547.35 Td (Depreciation of property, plant) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 539.35 Td (and equipment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.25 539.35 Td (32,836) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.25 539.35 Td (37,175) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 279.95 539.35 Td (\(11.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 296.65 539.35 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 333.95 539.35 Td (\(9.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.65 539.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.25 539.35 Td (37,175) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.25 539.35 Td (41,506) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 484.95 539.35 Td (\(10.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 501.65 539.35 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 534.95 539.35 Td (\(12.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 551.65 539.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 526.35 Td (Amortization of broadcast) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 518.35 Td (licenses and other intangibles) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.25 518.35 Td (12,348) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.25 518.35 Td (14,761) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 279.95 518.35 Td (\(16.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 296.65 518.35 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 329.95 518.35 Td (\(13.0) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.65 518.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.25 518.35 Td (14,761) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.25 518.35 Td (42,707) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 484.95 518.35 Td (\(65.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 501.65 518.35 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 534.95 518.35 Td (\(66.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 551.65 518.35 Td (\)%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 505.33 Td (Cost ) Tj ET Q q 0 0 0 rg BT 69.55 505.33 Td (of ) Tj ET Q q 0 0 0 rg BT 78.22 505.33 Td (r) Tj ET Q q 0 0 0 rg BT 81.70 505.33 Td (evenues) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 177.25 505.33 Td (489,041) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 227.25 505.33 Td (578,570) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 279.95 505.33 Td (\(15.5) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 296.65 505.33 Td (\)%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 329.95 505.33 Td (\(13.2) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 346.65 505.33 Td (\)%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.25 505.33 Td (578,570) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 432.25 505.33 Td (544,819) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 491.65 505.33 Td (6.2) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 504.30 505.33 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 541.65 505.33 Td (4.1) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 554.30 505.33 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 492.35 Td (Selling, general and) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 484.35 Td (administrative expenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 177.25 484.35 Td (143,616) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 227.25 484.35 Td (136,393) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 286.65 484.35 Td (5.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 299.30 484.35 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 336.65 484.35 Td (8.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 349.25 484.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.25 484.35 Td (136,393) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.25 484.35 Td (124,766) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 491.65 484.35 Td (9.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 504.30 484.35 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 541.65 484.35 Td (7.9) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.30 484.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 471.35 Td (Restructuring ) Tj ET Q q 0 0 0 rg BT 103.55 471.35 Td (costs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 185.25 471.35 Td (9,856) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.25 471.35 Td (18,512) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 279.95 471.35 Td (\(46.8) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 296.65 471.35 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 329.95 471.35 Td (\(43.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.65 471.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.25 471.35 Td (18,512) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.30 471.35 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 488.60 471.35 Td (NM) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 500.60 474.97 Td ( \(1\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 537.90 471.35 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 551.90 474.97 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 458.35 Td (Impairment ) Tj ET Q q 0 0 0 rg BT 97.32 458.35 Td (char) Tj ET Q q 0 0 0 rg BT 110.94 458.35 Td (ge) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 195.30 458.35 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.25 458.35 Td (79,676) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 283.60 458.35 Td (NM) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 295.60 461.97 Td ( \(1\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 333.60 458.35 Td (NM) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 345.60 461.97 Td ( \(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.25 458.35 Td (79,676) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.25 458.35 Td (516,203) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 484.95 458.35 Td (\(84.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 501.65 458.35 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 534.95 458.35 Td (\(84.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 551.65 458.35 Td (\)%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 445.33 Td (Operating ) Tj ET Q q 0 0 0 rg BT 89.11 445.33 Td (income ) Tj ET Q q 0 0 0 rg BT 115.55 445.33 Td (/ ) Tj ET Q q 0 0 0 rg BT 119.77 445.33 Td (\(loss\) ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 163.00 445.33 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 181.25 445.33 Td (38,280) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 213.00 445.33 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 224.60 445.33 Td (\(180,017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 253.30 445.33 Td (\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 282.00 445.33 Td (NM ) Tj ET Q BT /F4 8.00 Tf ET BT /F4 5.20 Tf ET q 0 0 0 rg BT 296.89 448.96 Td (\(1\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 332.00 445.33 Td (NM ) Tj ET Q BT /F4 8.00 Tf ET BT /F4 5.20 Tf ET q 0 0 0 rg BT 346.89 448.96 Td (\(1\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 368.00 445.33 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 379.60 445.33 Td (\(180,017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.30 445.33 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.00 445.33 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 429.60 445.33 Td (\(479,789) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.30 445.33 Td (\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 487.65 445.33 Td (62.5) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 504.30 445.33 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 537.65 445.33 Td (62.6) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 554.30 445.33 Td (%) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 426.00 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 67.50 426.00 Td (Number ) Tj ET Q q 0 0 0 rg BT 95.71 426.00 Td (is ) Tj ET Q q 0 0 0 rg BT 103.05 426.00 Td (not ) Tj ET Q q 0 0 0 rg BT 115.27 426.00 Td (meaningful.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 410.40 Td (T) Tj ET Q q 0 0 0 rg BT 54.10 410.40 Td (elevision ) Tj ET Q q 0 0 0 rg BT 85.96 410.40 Td (advertising ) Tj ET Q q 0 0 0 rg BT 126.71 410.40 Td (r) Tj ET Q q 0 0 0 rg BT 130.11 410.40 Td (evenues:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 159.44 410.40 Td ( ) Tj ET Q q 0 0 0 rg BT 161.96 410.40 Td (On ) Tj ET Q q 0 0 0 rg BT 174.27 410.40 Td (a ) Tj ET Q q 0 0 0 rg BT 180.34 410.40 Td (constant ) Tj ET Q q 0 0 0 rg BT 209.53 410.40 Td (currency ) Tj ET Q q 0 0 0 rg BT 240.03 410.40 Td (basis, ) Tj ET Q q 0 0 0 rg BT 260.55 410.40 Td (television ) Tj ET Q q 0 0 0 rg BT 294.18 410.40 Td (advertising ) Tj ET Q q 0 0 0 rg BT 332.26 410.40 Td (spending ) Tj ET Q q 0 0 0 rg BT 363.67 410.40 Td (in ) Tj ET Q q 0 0 0 rg BT 372.41 410.40 Td (our ) Tj ET Q q 0 0 0 rg BT 385.60 410.40 Td (markets ) Tj ET Q q 0 0 0 rg BT 413.45 410.40 Td (is ) Tj ET Q q 0 0 0 rg BT 421.31 410.40 Td (estimated ) Tj ET Q q 0 0 0 rg BT 454.49 410.40 Td (to ) Tj ET Q q 0 0 0 rg BT 463.24 410.40 Td (have ) Tj ET Q q 0 0 0 rg BT 480.87 410.40 Td (improved ) Tj ET Q q 0 0 0 rg BT 514.05 410.40 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 524.57 410.40 Td (3%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 535.24 410.40 Td ( ) Tj ET Q q 0 0 0 rg BT 537.76 410.40 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.51 410.40 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 562.51 410.40 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 400.80 Td (compared ) Tj ET Q q 0 0 0 rg BT 82.71 400.80 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 90.60 400.80 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.60 400.80 Td ( ) Tj ET Q q 0 0 0 rg BT 108.27 400.80 Td (and ) Tj ET Q q 0 0 0 rg BT 121.49 400.80 Td (declined ) Tj ET Q q 0 0 0 rg BT 150.25 400.80 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 159.92 400.80 Td (6%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 170.59 400.80 Td ( ) Tj ET Q q 0 0 0 rg BT 172.26 400.80 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 180.15 400.80 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 196.15 400.80 Td ( ) Tj ET Q q 0 0 0 rg BT 197.82 400.80 Td (compared ) Tj ET Q q 0 0 0 rg BT 231.03 400.80 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 238.92 400.80 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 254.92 400.80 Td (. ) Tj ET Q q 0 0 0 rg BT 258.59 400.80 Td (See ) Tj ET Q q 0 0 0 rg BT 271.81 400.80 Td ("Segment ) Tj ET Q q 0 0 0 rg BT 304.74 400.80 Td (Performance" ) Tj ET Q q 0 0 0 rg BT 350.54 400.80 Td (above ) Tj ET Q q 0 0 0 rg BT 371.31 400.80 Td (for ) Tj ET Q q 0 0 0 rg BT 382.31 400.80 Td (additional ) Tj ET Q q 0 0 0 rg BT 415.97 400.80 Td (information ) Tj ET Q q 0 0 0 rg BT 455.41 400.80 Td (on ) Tj ET Q q 0 0 0 rg BT 465.07 400.80 Td (trends ) Tj ET Q q 0 0 0 rg BT 486.29 400.80 Td (in ) Tj ET Q q 0 0 0 rg BT 494.19 400.80 Td (television ) Tj ET Q q 0 0 0 rg BT 526.96 400.80 Td (advertising ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 391.20 Td (revenues.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 375.60 Td (Carriage ) Tj ET Q q 0 0 0 rg BT 82.22 375.60 Td (fees ) Tj ET Q q 0 0 0 rg BT 97.18 375.60 Td (and ) Tj ET Q q 0 0 0 rg BT 112.15 375.60 Td (subscriptions:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 160.16 375.60 Td ( ) Tj ET Q q 0 0 0 rg BT 162.23 375.60 Td (On ) Tj ET Q q 0 0 0 rg BT 174.08 375.60 Td (a ) Tj ET Q q 0 0 0 rg BT 179.70 375.60 Td (constant ) Tj ET Q q 0 0 0 rg BT 208.44 375.60 Td (currency ) Tj ET Q q 0 0 0 rg BT 238.49 375.60 Td (basis, ) Tj ET Q q 0 0 0 rg BT 258.56 375.60 Td (carriage ) Tj ET Q q 0 0 0 rg BT 286.39 375.60 Td (fees ) Tj ET Q q 0 0 0 rg BT 301.34 375.60 Td (and ) Tj ET Q q 0 0 0 rg BT 314.96 375.60 Td (subscriptions ) Tj ET Q q 0 0 0 rg BT 359.26 375.60 Td (revenue ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.64 375.60 Td (increased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.85 375.60 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.92 375.60 Td (39%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.58 375.60 Td ( ) Tj ET Q q 0 0 0 rg BT 435.66 375.60 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.95 375.60 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 459.95 375.60 Td ( ) Tj ET Q q 0 0 0 rg BT 462.02 375.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 495.63 375.60 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 503.93 375.60 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.93 375.60 Td (, ) Tj ET Q q 0 0 0 rg BT 524.00 375.60 Td (primarily ) Tj ET Q q 0 0 0 rg BT 555.84 375.60 Td (as ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 366.00 Td (a ) Tj ET Q q 0 0 0 rg BT 55.37 366.00 Td (result ) Tj ET Q q 0 0 0 rg BT 75.47 366.00 Td (of ) Tj ET Q q 0 0 0 rg BT 84.46 366.00 Td (increased ) Tj ET Q q 0 0 0 rg BT 116.98 366.00 Td (carriage ) Tj ET Q q 0 0 0 rg BT 145.06 366.00 Td (fee ) Tj ET Q q 0 0 0 rg BT 157.15 366.00 Td (pricing ) Tj ET Q q 0 0 0 rg BT 182.13 366.00 Td (in ) Tj ET Q q 0 0 0 rg BT 190.68 366.00 Td (Romania ) Tj ET Q q 0 0 0 rg BT 221.89 366.00 Td (and ) Tj ET Q q 0 0 0 rg BT 235.76 366.00 Td (higher ) Tj ET Q q 0 0 0 rg BT 258.52 366.00 Td (subscriber ) Tj ET Q q 0 0 0 rg BT 293.72 366.00 Td (counts ) Tj ET Q q 0 0 0 rg BT 316.93 366.00 Td (in ) Tj ET Q q 0 0 0 rg BT 325.48 366.00 Td (Bulgaria; ) Tj ET Q q 0 0 0 rg BT 357.57 366.00 Td (and ) Tj ET Q q 0 0 0 rg BT 371.45 366.00 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.77 366.00 Td (33%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.43 366.00 Td ( ) Tj ET Q q 0 0 0 rg BT 398.76 366.00 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.30 366.00 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.30 366.00 Td ( ) Tj ET Q q 0 0 0 rg BT 425.63 366.00 Td (compared ) Tj ET Q q 0 0 0 rg BT 459.49 366.00 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.03 366.00 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.03 366.00 Td (, ) Tj ET Q q 0 0 0 rg BT 488.36 366.00 Td (as ) Tj ET Q q 0 0 0 rg BT 497.34 366.00 Td (a ) Tj ET Q q 0 0 0 rg BT 503.22 366.00 Td (result ) Tj ET Q q 0 0 0 rg BT 523.31 366.00 Td (of ) Tj ET Q q 0 0 0 rg BT 532.30 366.00 Td (increased ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 356.40 Td (carriage ) Tj ET Q q 0 0 0 rg BT 77.25 356.40 Td (fee ) Tj ET Q q 0 0 0 rg BT 89.02 356.40 Td (pricing ) Tj ET Q q 0 0 0 rg BT 113.68 356.40 Td (in ) Tj ET Q q 0 0 0 rg BT 121.90 356.40 Td (Bulgaria. ) Tj ET Q q 0 0 0 rg BT 153.45 356.40 Td (See ) Tj ET Q q 0 0 0 rg BT 167.00 356.40 Td ("Segment ) Tj ET Q q 0 0 0 rg BT 200.26 356.40 Td (Performance" ) Tj ET Q q 0 0 0 rg BT 246.39 356.40 Td (above ) Tj ET Q q 0 0 0 rg BT 267.50 356.40 Td (for ) Tj ET Q q 0 0 0 rg BT 278.82 356.40 Td (additional ) Tj ET Q q 0 0 0 rg BT 312.82 356.40 Td (information ) Tj ET Q q 0 0 0 rg BT 352.59 356.40 Td (on ) Tj ET Q q 0 0 0 rg BT 362.59 356.40 Td (carriage ) Tj ET Q q 0 0 0 rg BT 390.34 356.40 Td (fees ) Tj ET Q q 0 0 0 rg BT 405.22 356.40 Td (and ) Tj ET Q q 0 0 0 rg BT 418.77 356.40 Td (subscription ) Tj ET Q q 0 0 0 rg BT 459.88 356.40 Td (revenues.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 340.80 Td (Other) Tj ET Q q 0 0 0 rg BT 69.79 340.80 Td ( ) Tj ET Q q 0 0 0 rg BT 72.64 340.80 Td (r) Tj ET Q q 0 0 0 rg BT 76.05 340.80 Td (evenues:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 105.38 340.80 Td ( ) Tj ET Q q 0 0 0 rg BT 108.23 340.80 Td (Other ) Tj ET Q q 0 0 0 rg BT 129.29 340.80 Td (revenues ) Tj ET Q q 0 0 0 rg BT 160.57 340.80 Td (include ) Tj ET Q q 0 0 0 rg BT 186.97 340.80 Td (primarily ) Tj ET Q q 0 0 0 rg BT 219.59 340.80 Td (internet ) Tj ET Q q 0 0 0 rg BT 246.87 340.80 Td (advertising, ) Tj ET Q q 0 0 0 rg BT 287.27 340.80 Td (licensing ) Tj ET Q q 0 0 0 rg BT 319.00 340.80 Td (and ) Tj ET Q q 0 0 0 rg BT 333.40 340.80 Td (other ) Tj ET Q q 0 0 0 rg BT 352.69 340.80 Td (services ) Tj ET Q q 0 0 0 rg BT 381.30 340.80 Td (revenues. ) Tj ET Q q 0 0 0 rg BT 414.58 340.80 Td (On ) Tj ET Q q 0 0 0 rg BT 427.21 340.80 Td (a ) Tj ET Q q 0 0 0 rg BT 433.61 340.80 Td (constant ) Tj ET Q q 0 0 0 rg BT 463.12 340.80 Td (currency ) Tj ET Q q 0 0 0 rg BT 493.95 340.80 Td (basis, ) Tj ET Q q 0 0 0 rg BT 514.80 340.80 Td (other ) Tj ET Q q 0 0 0 rg BT 534.08 340.80 Td (revenues ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 331.20 Td (decreased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.03 331.20 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 82.59 331.20 Td (22%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 97.25 331.20 Td ( ) Tj ET Q q 0 0 0 rg BT 98.81 331.20 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.59 331.20 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 122.59 331.20 Td ( ) Tj ET Q q 0 0 0 rg BT 124.15 331.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 157.25 331.20 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 165.03 331.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.03 331.20 Td (, ) Tj ET Q q 0 0 0 rg BT 184.58 331.20 Td (primarily ) Tj ET Q q 0 0 0 rg BT 215.91 331.20 Td (due ) Tj ET Q q 0 0 0 rg BT 229.02 331.20 Td (to ) Tj ET Q q 0 0 0 rg BT 236.80 331.20 Td (a ) Tj ET Q q 0 0 0 rg BT 241.91 331.20 Td (significant ) Tj ET Q q 0 0 0 rg BT 277.23 331.20 Td (decrease ) Tj ET Q q 0 0 0 rg BT 306.32 331.20 Td (in ) Tj ET Q q 0 0 0 rg BT 314.10 331.20 Td (the ) Tj ET Q q 0 0 0 rg BT 325.43 331.20 Td (amount ) Tj ET Q q 0 0 0 rg BT 350.99 331.20 Td (of ) Tj ET Q q 0 0 0 rg BT 359.21 331.20 Td (commercials ) Tj ET Q q 0 0 0 rg BT 401.64 331.20 Td (produced ) Tj ET Q q 0 0 0 rg BT 432.96 331.20 Td (for ) Tj ET Q q 0 0 0 rg BT 443.85 331.20 Td (third ) Tj ET Q q 0 0 0 rg BT 460.51 331.20 Td (parties ) Tj ET Q q 0 0 0 rg BT 483.40 331.20 Td (in ) Tj ET Q q 0 0 0 rg BT 491.18 331.20 Td (our ) Tj ET Q q 0 0 0 rg BT 503.40 331.20 Td (Romania ) Tj ET Q q 0 0 0 rg BT 533.84 331.20 Td (segment, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 321.60 Td (which ) Tj ET Q q 0 0 0 rg BT 70.95 321.60 Td (is ) Tj ET Q q 0 0 0 rg BT 78.18 321.60 Td (not ) Tj ET Q q 0 0 0 rg BT 90.30 321.60 Td (expected ) Tj ET Q q 0 0 0 rg BT 120.62 321.60 Td (to ) Tj ET Q q 0 0 0 rg BT 128.74 321.60 Td (return ) Tj ET Q q 0 0 0 rg BT 149.73 321.60 Td (to ) Tj ET Q q 0 0 0 rg BT 157.85 321.60 Td (previous ) Tj ET Q q 0 0 0 rg BT 187.30 321.60 Td (volumes. ) Tj ET Q q 0 0 0 rg BT 218.16 321.60 Td (The ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 232.50 321.60 Td (5%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 243.16 321.60 Td ( ) Tj ET Q q 0 0 0 rg BT 245.06 321.60 Td (decrease ) Tj ET Q q 0 0 0 rg BT 274.48 321.60 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 282.60 321.60 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.60 321.60 Td ( ) Tj ET Q q 0 0 0 rg BT 300.50 321.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 333.93 321.60 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 342.05 321.60 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.05 321.60 Td ( ) Tj ET Q q 0 0 0 rg BT 359.95 321.60 Td (is ) Tj ET Q q 0 0 0 rg BT 367.18 321.60 Td (due ) Tj ET Q q 0 0 0 rg BT 380.62 321.60 Td (to ) Tj ET Q q 0 0 0 rg BT 388.74 321.60 Td (lower ) Tj ET Q q 0 0 0 rg BT 408.85 321.60 Td (revenue ) Tj ET Q q 0 0 0 rg BT 436.06 321.60 Td (from ) Tj ET Q q 0 0 0 rg BT 453.51 321.60 Td (the ) Tj ET Q q 0 0 0 rg BT 465.18 321.60 Td (licensing ) Tj ET Q q 0 0 0 rg BT 495.96 321.60 Td (of ) Tj ET Q q 0 0 0 rg BT 504.52 321.60 Td (our ) Tj ET Q q 0 0 0 rg BT 517.08 321.60 Td (own ) Tj ET Q q 0 0 0 rg BT 532.75 321.60 Td (produced ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 312.00 Td (content ) Tj ET Q q 0 0 0 rg BT 75.05 312.00 Td (to ) Tj ET Q q 0 0 0 rg BT 83.27 312.00 Td (third ) Tj ET Q q 0 0 0 rg BT 100.38 312.00 Td (parties.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 296.40 Td (Cost ) Tj ET Q q 0 0 0 rg BT 66.94 296.40 Td (of ) Tj ET Q q 0 0 0 rg BT 75.48 296.40 Td (r) Tj ET Q q 0 0 0 rg BT 78.89 296.40 Td (evenues:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 108.22 296.40 Td ( ) Tj ET Q q 0 0 0 rg BT 110.10 296.40 Td (Our ) Tj ET Q q 0 0 0 rg BT 124.43 296.40 Td (total ) Tj ET Q q 0 0 0 rg BT 140.53 296.40 Td (cost ) Tj ET Q q 0 0 0 rg BT 155.30 296.40 Td (of ) Tj ET Q q 0 0 0 rg BT 163.84 296.40 Td (revenues ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 194.16 296.40 Td (decreased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 225.69 296.40 Td ( ) Tj ET Q q 0 0 0 rg BT 227.57 296.40 Td (by ) Tj ET Q q 0 0 0 rg BT 237.45 296.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.56 296.40 Td (89.5 ) Tj ET Q q 0 0 0 rg BT 269.45 296.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.56 296.40 Td (, ) Tj ET Q q 0 0 0 rg BT 296.44 296.40 Td (or ) Tj ET Q q 0 0 0 rg BT 304.99 296.40 Td (16%, ) Tj ET Q q 0 0 0 rg BT 323.54 296.40 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 346.30 296.40 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.30 296.40 Td ( ) Tj ET Q q 0 0 0 rg BT 364.19 296.40 Td (compared ) Tj ET Q q 0 0 0 rg BT 397.61 296.40 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.71 296.40 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.71 296.40 Td (. ) Tj ET Q q 0 0 0 rg BT 425.60 296.40 Td (On ) Tj ET Q q 0 0 0 rg BT 437.26 296.40 Td (a ) Tj ET Q q 0 0 0 rg BT 442.69 296.40 Td (constant ) Tj ET Q q 0 0 0 rg BT 471.23 296.40 Td (currency ) Tj ET Q q 0 0 0 rg BT 501.10 296.40 Td (basis, ) Tj ET Q q 0 0 0 rg BT 520.98 296.40 Td (our ) Tj ET Q q 0 0 0 rg BT 533.53 296.40 Td (total ) Tj ET Q q 0 0 0 rg BT 549.63 296.40 Td (cost ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 286.80 Td (of ) Tj ET Q q 0 0 0 rg BT 57.75 286.80 Td (revenues ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.77 286.80 Td (decreased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 119.30 286.80 Td ( ) Tj ET Q q 0 0 0 rg BT 120.89 286.80 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.48 286.80 Td (13%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 145.14 286.80 Td ( ) Tj ET Q q 0 0 0 rg BT 146.73 286.80 Td (due ) Tj ET Q q 0 0 0 rg BT 159.87 286.80 Td (to ) Tj ET Q q 0 0 0 rg BT 167.68 286.80 Td (decreased ) Tj ET Q q 0 0 0 rg BT 200.80 286.80 Td (content ) Tj ET Q q 0 0 0 rg BT 225.93 286.80 Td (costs ) Tj ET Q q 0 0 0 rg BT 243.52 286.80 Td (as ) Tj ET Q q 0 0 0 rg BT 251.77 286.80 Td (a ) Tj ET Q q 0 0 0 rg BT 256.91 286.80 Td (result ) Tj ET Q q 0 0 0 rg BT 276.27 286.80 Td (of ) Tj ET Q q 0 0 0 rg BT 284.52 286.80 Td (fewer ) Tj ET Q q 0 0 0 rg BT 304.32 286.80 Td (programming ) Tj ET Q q 0 0 0 rg BT 349.45 286.80 Td (impairments ) Tj ET Q q 0 0 0 rg BT 391.03 286.80 Td (taken ) Tj ET Q q 0 0 0 rg BT 409.95 286.80 Td (in ) Tj ET Q q 0 0 0 rg BT 417.76 286.80 Td (the ) Tj ET Q q 0 0 0 rg BT 429.12 286.80 Td (current ) Tj ET Q q 0 0 0 rg BT 453.36 286.80 Td (year) Tj ET Q q 0 0 0 rg BT 466.80 286.80 Td (, ) Tj ET Q q 0 0 0 rg BT 470.39 286.80 Td (as ) Tj ET Q q 0 0 0 rg BT 478.64 286.80 Td (well ) Tj ET Q q 0 0 0 rg BT 494.00 286.80 Td (as ) Tj ET Q q 0 0 0 rg BT 502.26 286.80 Td (lower ) Tj ET Q q 0 0 0 rg BT 522.06 286.80 Td (transmission ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 277.20 Td (costs, ) Tj ET Q q 0 0 0 rg BT 69.50 277.20 Td (including ) Tj ET Q q 0 0 0 rg BT 101.72 277.20 Td (savings ) Tj ET Q q 0 0 0 rg BT 127.72 277.20 Td (from ) Tj ET Q q 0 0 0 rg BT 145.27 277.20 Td (operating ) Tj ET Q q 0 0 0 rg BT 177.48 277.20 Td (fewer ) Tj ET Q q 0 0 0 rg BT 197.69 277.20 Td (channels ) Tj ET Q q 0 0 0 rg BT 227.68 277.20 Td (in ) Tj ET Q q 0 0 0 rg BT 235.90 277.20 Td (2014, ) Tj ET Q q 0 0 0 rg BT 255.90 277.20 Td (and ) Tj ET Q q 0 0 0 rg BT 269.45 277.20 Td (reduced ) Tj ET Q q 0 0 0 rg BT 296.77 277.20 Td (staf) Tj ET Q q 0 0 0 rg BT 308.17 277.20 Td (f ) Tj ET Q q 0 0 0 rg BT 312.84 277.20 Td (and ) Tj ET Q q 0 0 0 rg BT 326.39 277.20 Td (overhead ) Tj ET Q q 0 0 0 rg BT 357.70 277.20 Td (costs ) Tj ET Q q 0 0 0 rg BT 375.70 277.20 Td (as ) Tj ET Q q 0 0 0 rg BT 384.37 277.20 Td (a ) Tj ET Q q 0 0 0 rg BT 389.92 277.20 Td (result ) Tj ET Q q 0 0 0 rg BT 409.69 277.20 Td (of ) Tj ET Q q 0 0 0 rg BT 418.36 277.20 Td (our ) Tj ET Q q 0 0 0 rg BT 431.02 277.20 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 473.89 277.20 Td (and ) Tj ET Q q 0 0 0 rg BT 487.45 277.20 Td (cost ) Tj ET Q q 0 0 0 rg BT 502.33 277.20 Td (savings ) Tj ET Q q 0 0 0 rg BT 528.33 277.20 Td (ef) Tj ET Q q 0 0 0 rg BT 534.40 277.20 Td (forts.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 261.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 64.07 261.60 Td (total ) Tj ET Q q 0 0 0 rg BT 80.41 261.60 Td (cost ) Tj ET Q q 0 0 0 rg BT 95.42 261.60 Td (of ) Tj ET Q q 0 0 0 rg BT 104.21 261.60 Td (revenues ) Tj ET Q q 0 0 0 rg BT 134.77 261.60 Td (for ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.22 261.60 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 162.22 261.60 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 164.34 261.60 Td (increased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 194.55 261.60 Td ( ) Tj ET Q q 0 0 0 rg BT 196.67 261.60 Td (by ) Tj ET Q q 0 0 0 rg BT 206.80 261.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 223.15 261.60 Td (33.8 ) Tj ET Q q 0 0 0 rg BT 239.27 261.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 262.39 261.60 Td (, ) Tj ET Q q 0 0 0 rg BT 266.51 261.60 Td (or ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 275.30 261.60 Td (6%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.96 261.60 Td (, ) Tj ET Q q 0 0 0 rg BT 290.09 261.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 323.75 261.60 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.10 261.60 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 348.10 261.60 Td (. ) Tj ET Q q 0 0 0 rg BT 352.23 261.60 Td (On ) Tj ET Q q 0 0 0 rg BT 364.13 261.60 Td (a ) Tj ET Q q 0 0 0 rg BT 369.80 261.60 Td (constant ) Tj ET Q q 0 0 0 rg BT 398.59 261.60 Td (currency ) Tj ET Q q 0 0 0 rg BT 428.70 261.60 Td (basis, ) Tj ET Q q 0 0 0 rg BT 448.82 261.60 Td (our ) Tj ET Q q 0 0 0 rg BT 461.61 261.60 Td (total ) Tj ET Q q 0 0 0 rg BT 477.95 261.60 Td (cost ) Tj ET Q q 0 0 0 rg BT 492.96 261.60 Td (of ) Tj ET Q q 0 0 0 rg BT 501.75 261.60 Td (revenues ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.31 261.60 Td (increased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 562.51 261.60 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 252.00 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.37 252.00 Td (4%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.03 252.00 Td ( ) Tj ET Q q 0 0 0 rg BT 71.90 252.00 Td (due ) Tj ET Q q 0 0 0 rg BT 85.31 252.00 Td (to ) Tj ET Q q 0 0 0 rg BT 93.40 252.00 Td (increased ) Tj ET Q q 0 0 0 rg BT 125.47 252.00 Td (content ) Tj ET Q q 0 0 0 rg BT 150.88 252.00 Td (costs ) Tj ET Q q 0 0 0 rg BT 168.75 252.00 Td (as ) Tj ET Q q 0 0 0 rg BT 177.28 252.00 Td (a ) Tj ET Q q 0 0 0 rg BT 182.70 252.00 Td (result ) Tj ET Q q 0 0 0 rg BT 202.34 252.00 Td (of ) Tj ET Q q 0 0 0 rg BT 210.87 252.00 Td (programming ) Tj ET Q q 0 0 0 rg BT 256.28 252.00 Td (impairment ) Tj ET Q q 0 0 0 rg BT 295.03 252.00 Td (char) Tj ET Q q 0 0 0 rg BT 308.65 252.00 Td (ges, ) Tj ET Q q 0 0 0 rg BT 323.18 252.00 Td (which ) Tj ET Q q 0 0 0 rg BT 344.59 252.00 Td (were ) Tj ET Q q 0 0 0 rg BT 362.00 252.00 Td (of) Tj ET Q q 0 0 0 rg BT 368.52 252.00 Td (fset ) Tj ET Q q 0 0 0 rg BT 381.94 252.00 Td (partially ) Tj ET Q q 0 0 0 rg BT 410.46 252.00 Td (by ) Tj ET Q q 0 0 0 rg BT 420.33 252.00 Td (lower ) Tj ET Q q 0 0 0 rg BT 440.41 252.00 Td (amortization ) Tj ET Q q 0 0 0 rg BT 482.71 252.00 Td (of ) Tj ET Q q 0 0 0 rg BT 491.24 252.00 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 523.75 252.00 Td (licenses ) Tj ET Q q 0 0 0 rg BT 550.95 252.00 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 242.40 Td (other ) Tj ET Q q 0 0 0 rg BT 68.32 242.40 Td (intangible ) Tj ET Q q 0 0 0 rg BT 102.70 242.40 Td (assets ) Tj ET Q q 0 0 0 rg BT 123.75 242.40 Td (following ) Tj ET Q q 0 0 0 rg BT 157.24 242.40 Td (the ) Tj ET Q q 0 0 0 rg BT 169.40 242.40 Td (impairment ) Tj ET Q q 0 0 0 rg BT 208.66 242.40 Td (of ) Tj ET Q q 0 0 0 rg BT 217.71 242.40 Td (certain ) Tj ET Q q 0 0 0 rg BT 241.85 242.40 Td (of ) Tj ET Q q 0 0 0 rg BT 250.90 242.40 Td (our ) Tj ET Q q 0 0 0 rg BT 263.95 242.40 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 296.98 242.40 Td (licenses ) Tj ET Q q 0 0 0 rg BT 324.69 242.40 Td (and ) Tj ET Q q 0 0 0 rg BT 338.63 242.40 Td (other ) Tj ET Q q 0 0 0 rg BT 357.45 242.40 Td (intangible ) Tj ET Q q 0 0 0 rg BT 391.82 242.40 Td (assets ) Tj ET Q q 0 0 0 rg BT 412.87 242.40 Td (in ) Tj ET Q q 0 0 0 rg BT 421.48 242.40 Td (the ) Tj ET Q q 0 0 0 rg BT 433.63 242.40 Td (fourth ) Tj ET Q q 0 0 0 rg BT 455.57 242.40 Td (quarter ) Tj ET Q q 0 0 0 rg BT 480.61 242.40 Td (of ) Tj ET Q q 0 0 0 rg BT 489.65 242.40 Td (2012, ) Tj ET Q q 0 0 0 rg BT 510.04 242.40 Td (as ) Tj ET Q q 0 0 0 rg BT 519.08 242.40 Td (well ) Tj ET Q q 0 0 0 rg BT 535.24 242.40 Td (as ) Tj ET Q q 0 0 0 rg BT 544.29 242.40 Td (lower ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 232.80 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 91.04 232.80 Td (of ) Tj ET Q q 0 0 0 rg BT 99.70 232.80 Td (property) Tj ET Q q 0 0 0 rg BT 126.28 232.80 Td (, ) Tj ET Q q 0 0 0 rg BT 130.28 232.80 Td (plant ) Tj ET Q q 0 0 0 rg BT 148.28 232.80 Td (and ) Tj ET Q q 0 0 0 rg BT 161.83 232.80 Td (equipment.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 217.20 Td (Content ) Tj ET Q q 0 0 0 rg BT 78.57 217.20 Td (costs:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 97.67 217.20 Td (Content ) Tj ET Q q 0 0 0 rg BT 126.52 217.20 Td (costs ) Tj ET Q q 0 0 0 rg BT 144.03 217.20 Td (\(including ) Tj ET Q q 0 0 0 rg BT 178.43 217.20 Td (production ) Tj ET Q q 0 0 0 rg BT 214.60 217.20 Td (costs ) Tj ET Q q 0 0 0 rg BT 232.11 217.20 Td (and ) Tj ET Q q 0 0 0 rg BT 245.17 217.20 Td (amortization ) Tj ET Q q 0 0 0 rg BT 287.12 217.20 Td (of ) Tj ET Q q 0 0 0 rg BT 295.29 217.20 Td (programming ) Tj ET Q q 0 0 0 rg BT 340.35 217.20 Td (rights\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.75 217.20 Td (decreased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.28 217.20 Td ( ) Tj ET Q q 0 0 0 rg BT 395.80 217.20 Td (by ) Tj ET Q q 0 0 0 rg BT 405.31 217.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.05 217.20 Td (63.7 ) Tj ET Q q 0 0 0 rg BT 436.56 217.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 459.67 217.20 Td ( ) Tj ET Q q 0 0 0 rg BT 461.19 217.20 Td (, ) Tj ET Q q 0 0 0 rg BT 464.70 217.20 Td (or ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.88 217.20 Td (15%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.54 217.20 Td (, ) Tj ET Q q 0 0 0 rg BT 491.05 217.20 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 513.45 217.20 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.45 217.20 Td ( ) Tj ET Q q 0 0 0 rg BT 530.97 217.20 Td (compared ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 207.60 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.31 207.60 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 74.31 207.60 Td (. ) Tj ET Q q 0 0 0 rg BT 78.89 207.60 Td (On ) Tj ET Q q 0 0 0 rg BT 91.25 207.60 Td (a ) Tj ET Q q 0 0 0 rg BT 97.38 207.60 Td (constant ) Tj ET Q q 0 0 0 rg BT 126.63 207.60 Td (currency ) Tj ET Q q 0 0 0 rg BT 157.19 207.60 Td (basis, ) Tj ET Q q 0 0 0 rg BT 177.77 207.60 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 190.13 207.60 Td (decrease) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 217.66 207.60 Td ( ) Tj ET Q q 0 0 0 rg BT 220.24 207.60 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 229.49 207.60 Td (13%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 244.15 207.60 Td ( ) Tj ET Q q 0 0 0 rg BT 246.74 207.60 Td (lar) Tj ET Q q 0 0 0 rg BT 255.03 207.60 Td (gely ) Tj ET Q q 0 0 0 rg BT 271.39 207.60 Td (reflects ) Tj ET Q q 0 0 0 rg BT 297.51 207.60 Td (lower ) Tj ET Q q 0 0 0 rg BT 318.31 207.60 Td (programming ) Tj ET Q q 0 0 0 rg BT 364.44 207.60 Td (impairment ) Tj ET Q q 0 0 0 rg BT 403.90 207.60 Td (char) Tj ET Q q 0 0 0 rg BT 417.52 207.60 Td (ges ) Tj ET Q q 0 0 0 rg BT 430.77 207.60 Td (recorded ) Tj ET Q q 0 0 0 rg BT 461.33 207.60 Td (in ) Tj ET Q q 0 0 0 rg BT 470.14 207.60 Td (2014 ) Tj ET Q q 0 0 0 rg BT 488.72 207.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 522.84 207.60 Td (to ) Tj ET Q q 0 0 0 rg BT 531.65 207.60 Td (2013. ) Tj ET Q q 0 0 0 rg BT 552.04 207.60 Td (W) Tj ET Q q 0 0 0 rg BT 558.95 207.60 Td (e ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 198.00 Td (recorded ) Tj ET Q q 0 0 0 rg BT 79.41 198.00 Td (programming ) Tj ET Q q 0 0 0 rg BT 124.89 198.00 Td (impairment ) Tj ET Q q 0 0 0 rg BT 163.71 198.00 Td (char) Tj ET Q q 0 0 0 rg BT 177.33 198.00 Td (ges ) Tj ET Q q 0 0 0 rg BT 189.93 198.00 Td (of ) Tj ET Q q 0 0 0 rg BT 198.52 198.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 214.68 198.00 Td (9.2 ) Tj ET Q q 0 0 0 rg BT 226.62 198.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 249.73 198.00 Td ( ) Tj ET Q q 0 0 0 rg BT 251.66 198.00 Td (in ) Tj ET Q q 0 0 0 rg BT 259.82 198.00 Td (2014 ) Tj ET Q q 0 0 0 rg BT 277.75 198.00 Td (compared ) Tj ET Q q 0 0 0 rg BT 311.23 198.00 Td (to ) Tj ET Q q 0 0 0 rg BT 319.38 198.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 335.54 198.00 Td (60.4 ) Tj ET Q q 0 0 0 rg BT 351.48 198.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.59 198.00 Td ( ) Tj ET Q q 0 0 0 rg BT 376.52 198.00 Td (in ) Tj ET Q q 0 0 0 rg BT 384.68 198.00 Td (2013.These ) Tj ET Q q 0 0 0 rg BT 423.71 198.00 Td (decreases ) Tj ET Q q 0 0 0 rg BT 456.29 198.00 Td (were ) Tj ET Q q 0 0 0 rg BT 473.77 198.00 Td (partially ) Tj ET Q q 0 0 0 rg BT 502.36 198.00 Td (of) Tj ET Q q 0 0 0 rg BT 508.88 198.00 Td (fset ) Tj ET Q q 0 0 0 rg BT 522.36 198.00 Td (by ) Tj ET Q q 0 0 0 rg BT 532.30 198.00 Td (increased ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 188.40 Td (amortization ) Tj ET Q q 0 0 0 rg BT 92.12 188.40 Td (of ) Tj ET Q q 0 0 0 rg BT 100.98 188.40 Td (programming ) Tj ET Q q 0 0 0 rg BT 146.71 188.40 Td (rights ) Tj ET Q q 0 0 0 rg BT 167.13 188.40 Td (of ) Tj ET Q q 0 0 0 rg BT 175.98 188.40 Td (US$) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 192.21 188.40 Td (7.7 ) Tj ET Q q 0 0 0 rg BT 204.40 188.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 227.52 188.40 Td (during ) Tj ET Q q 0 0 0 rg BT 252.59 188.40 Td (theyear ) Tj ET Q q 0 0 0 rg BT 280.32 188.40 Td (endedDecember ) Tj ET Q q 0 0 0 rg BT 336.48 188.40 Td (31,2014, ) Tj ET Q q 0 0 0 rg BT 368.68 188.40 Td (due ) Tj ET Q q 0 0 0 rg BT 382.42 188.40 Td (to ) Tj ET Q q 0 0 0 rg BT 390.83 188.40 Td (the ) Tj ET Q q 0 0 0 rg BT 402.80 188.40 Td (change ) Tj ET Q q 0 0 0 rg BT 427.64 188.40 Td (in ) Tj ET Q q 0 0 0 rg BT 436.05 188.40 Td (estimate ) Tj ET Q q 0 0 0 rg BT 464.90 188.40 Td (of ) Tj ET Q q 0 0 0 rg BT 473.76 188.40 Td (the ) Tj ET Q q 0 0 0 rg BT 485.72 188.40 Td (relative ) Tj ET Q q 0 0 0 rg BT 511.90 188.40 Td (value ) Tj ET Q q 0 0 0 rg BT 531.41 188.40 Td (generated ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 178.80 Td (by ) Tj ET Q q 0 0 0 rg BT 59.50 178.80 Td (each ) Tj ET Q q 0 0 0 rg BT 76.15 178.80 Td (run ) Tj ET Q q 0 0 0 rg BT 88.82 178.80 Td (of ) Tj ET Q q 0 0 0 rg BT 97.48 178.80 Td (a ) Tj ET Q q 0 0 0 rg BT 103.03 178.80 Td (program.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 163.20 Td (Content ) Tj ET Q q 0 0 0 rg BT 76.93 163.20 Td (costs ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 95.03 163.20 Td (increased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 125.23 163.20 Td ( ) Tj ET Q q 0 0 0 rg BT 127.33 163.20 Td (by ) Tj ET Q q 0 0 0 rg BT 137.43 163.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 153.75 163.20 Td (56.4 ) Tj ET Q q 0 0 0 rg BT 169.85 163.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 192.97 163.20 Td (, ) Tj ET Q q 0 0 0 rg BT 197.07 163.20 Td (or ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 205.83 163.20 Td (15%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 220.49 163.20 Td (, ) Tj ET Q q 0 0 0 rg BT 224.59 163.20 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 247.58 163.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 263.58 163.20 Td ( ) Tj ET Q q 0 0 0 rg BT 265.67 163.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 299.31 163.20 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.63 163.20 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.63 163.20 Td (. ) Tj ET Q q 0 0 0 rg BT 327.73 163.20 Td (On ) Tj ET Q q 0 0 0 rg BT 339.61 163.20 Td (a ) Tj ET Q q 0 0 0 rg BT 345.26 163.20 Td (constant ) Tj ET Q q 0 0 0 rg BT 374.02 163.20 Td (currency ) Tj ET Q q 0 0 0 rg BT 404.10 163.20 Td (basis, ) Tj ET Q q 0 0 0 rg BT 424.19 163.20 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.07 163.20 Td (increase) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.27 163.20 Td ( ) Tj ET Q q 0 0 0 rg BT 464.37 163.20 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.13 163.20 Td (13%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.79 163.20 Td ( ) Tj ET Q q 0 0 0 rg BT 489.89 163.20 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 512.88 163.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.88 163.20 Td ( ) Tj ET Q q 0 0 0 rg BT 530.98 163.20 Td (compared ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 153.60 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.87 153.60 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 73.87 153.60 Td ( ) Tj ET Q q 0 0 0 rg BT 76.01 153.60 Td (reflected ) Tj ET Q q 0 0 0 rg BT 106.13 153.60 Td (char) Tj ET Q q 0 0 0 rg BT 119.75 153.60 Td (ges ) Tj ET Q q 0 0 0 rg BT 132.56 153.60 Td (to ) Tj ET Q q 0 0 0 rg BT 140.93 153.60 Td (write ) Tj ET Q q 0 0 0 rg BT 159.51 153.60 Td (down ) Tj ET Q q 0 0 0 rg BT 179.43 153.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 203.34 153.60 Td (programming ) Tj ET Q q 0 0 0 rg BT 249.03 153.60 Td (to ) Tj ET Q q 0 0 0 rg BT 257.40 153.60 Td (its ) Tj ET Q q 0 0 0 rg BT 267.10 153.60 Td (net ) Tj ET Q q 0 0 0 rg BT 279.02 153.60 Td (realizable ) Tj ET Q q 0 0 0 rg BT 312.25 153.60 Td (value ) Tj ET Q q 0 0 0 rg BT 331.72 153.60 Td (following ) Tj ET Q q 0 0 0 rg BT 364.97 153.60 Td (our ) Tj ET Q q 0 0 0 rg BT 377.78 153.60 Td (periodic ) Tj ET Q q 0 0 0 rg BT 406.14 153.60 Td (review ) Tj ET Q q 0 0 0 rg BT 430.05 153.60 Td (of ) Tj ET Q q 0 0 0 rg BT 438.86 153.60 Td (the ) Tj ET Q q 0 0 0 rg BT 450.77 153.60 Td (recoverability ) Tj ET Q q 0 0 0 rg BT 497.34 153.60 Td (of ) Tj ET Q q 0 0 0 rg BT 506.15 153.60 Td (our ) Tj ET Q q 0 0 0 rg BT 518.96 153.60 Td (programming ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 144.00 Td (library ) Tj ET Q q 0 0 0 rg BT 73.01 144.00 Td (across ) Tj ET Q q 0 0 0 rg BT 95.18 144.00 Td (our ) Tj ET Q q 0 0 0 rg BT 108.03 144.00 Td (operating ) Tj ET Q q 0 0 0 rg BT 140.43 144.00 Td (segments. ) Tj ET Q q 0 0 0 rg BT 174.23 144.00 Td (W) Tj ET Q q 0 0 0 rg BT 181.14 144.00 Td (e ) Tj ET Q q 0 0 0 rg BT 186.87 144.00 Td (recorded ) Tj ET Q q 0 0 0 rg BT 217.03 144.00 Td (programming ) Tj ET Q q 0 0 0 rg BT 262.76 144.00 Td (impairment ) Tj ET Q q 0 0 0 rg BT 301.83 144.00 Td (char) Tj ET Q q 0 0 0 rg BT 315.45 144.00 Td (ges ) Tj ET Q q 0 0 0 rg BT 328.30 144.00 Td (of ) Tj ET Q q 0 0 0 rg BT 337.14 144.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.55 144.00 Td (60.4 ) Tj ET Q q 0 0 0 rg BT 369.74 144.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.85 144.00 Td ( ) Tj ET Q q 0 0 0 rg BT 395.03 144.00 Td (in ) Tj ET Q q 0 0 0 rg BT 403.44 144.00 Td (2013 ) Tj ET Q q 0 0 0 rg BT 421.62 144.00 Td (compared ) Tj ET Q q 0 0 0 rg BT 455.35 144.00 Td (to ) Tj ET Q q 0 0 0 rg BT 463.75 144.00 Td (US$ ) Tj ET Q q 0 0 0 rg BT 480.16 144.00 Td (18.6 ) Tj ET Q q 0 0 0 rg BT 496.35 144.00 Td (million ) Tj ET Q q 0 0 0 rg BT 521.64 144.00 Td (in ) Tj ET Q q 0 0 0 rg BT 530.05 144.00 Td (2012. ) Tj ET Q q 0 0 0 rg BT 550.08 144.00 Td (The ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 134.40 Td (programming ) Tj ET Q q 0 0 0 rg BT 95.45 134.40 Td (impairment ) Tj ET Q q 0 0 0 rg BT 134.73 134.40 Td (char) Tj ET Q q 0 0 0 rg BT 148.35 134.40 Td (ges ) Tj ET Q q 0 0 0 rg BT 161.42 134.40 Td (relate ) Tj ET Q q 0 0 0 rg BT 181.58 134.40 Td (to ) Tj ET Q q 0 0 0 rg BT 190.20 134.40 Td (foreign ) Tj ET Q q 0 0 0 rg BT 215.71 134.40 Td (acquired ) Tj ET Q q 0 0 0 rg BT 245.65 134.40 Td (programming ) Tj ET Q q 0 0 0 rg BT 291.59 134.40 Td (for ) Tj ET Q q 0 0 0 rg BT 303.32 134.40 Td (which ) Tj ET Q q 0 0 0 rg BT 325.28 134.40 Td (we ) Tj ET Q q 0 0 0 rg BT 337.00 134.40 Td (were ) Tj ET Q q 0 0 0 rg BT 354.95 134.40 Td (unable ) Tj ET Q q 0 0 0 rg BT 378.67 134.40 Td (to ) Tj ET Q q 0 0 0 rg BT 387.30 134.40 Td (agree ) Tj ET Q q 0 0 0 rg BT 407.02 134.40 Td (upon ) Tj ET Q q 0 0 0 rg BT 425.42 134.40 Td (extensions ) Tj ET Q q 0 0 0 rg BT 461.59 134.40 Td (with ) Tj ET Q q 0 0 0 rg BT 478.22 134.40 Td (the ) Tj ET Q q 0 0 0 rg BT 490.39 134.40 Td (content ) Tj ET Q q 0 0 0 rg BT 516.34 134.40 Td (providers, ) Tj ET Q q 0 0 0 rg BT 550.96 134.40 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 124.80 Td (which ) Tj ET Q q 0 0 0 rg BT 71.01 124.80 Td (cannot ) Tj ET Q q 0 0 0 rg BT 94.29 124.80 Td (be ) Tj ET Q q 0 0 0 rg BT 103.80 124.80 Td (profitably ) Tj ET Q q 0 0 0 rg BT 137.31 124.80 Td (exploited ) Tj ET Q q 0 0 0 rg BT 169.04 124.80 Td (prior ) Tj ET Q q 0 0 0 rg BT 186.55 124.80 Td (to ) Tj ET Q q 0 0 0 rg BT 194.73 124.80 Td (the ) Tj ET Q q 0 0 0 rg BT 206.46 124.80 Td (expiration ) Tj ET Q q 0 0 0 rg BT 240.85 124.80 Td (date, ) Tj ET Q q 0 0 0 rg BT 258.14 124.80 Td (as ) Tj ET Q q 0 0 0 rg BT 266.76 124.80 Td (well ) Tj ET Q q 0 0 0 rg BT 282.49 124.80 Td (as ) Tj ET Q q 0 0 0 rg BT 291.12 124.80 Td (certain ) Tj ET Q q 0 0 0 rg BT 314.84 124.80 Td (own-produced ) Tj ET Q q 0 0 0 rg BT 363.00 124.80 Td (local ) Tj ET Q q 0 0 0 rg BT 380.51 124.80 Td (content ) Tj ET Q q 0 0 0 rg BT 406.01 124.80 Td (which ) Tj ET Q q 0 0 0 rg BT 427.52 124.80 Td (is ) Tj ET Q q 0 0 0 rg BT 434.82 124.80 Td (no ) Tj ET Q q 0 0 0 rg BT 444.78 124.80 Td (longer ) Tj ET Q q 0 0 0 rg BT 467.17 124.80 Td (deemed ) Tj ET Q q 0 0 0 rg BT 494.01 124.80 Td (to ) Tj ET Q q 0 0 0 rg BT 502.19 124.80 Td (be ) Tj ET Q q 0 0 0 rg BT 511.70 124.80 Td (recoverable ) Tj ET Q q 0 0 0 rg BT 550.96 124.80 Td (due ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 115.20 Td (to ) Tj ET Q q 0 0 0 rg BT 57.72 115.20 Td (changes ) Tj ET Q q 0 0 0 rg BT 85.49 115.20 Td (in ) Tj ET Q q 0 0 0 rg BT 93.71 115.20 Td (the ) Tj ET Q q 0 0 0 rg BT 105.48 115.20 Td (competitive ) Tj ET Q q 0 0 0 rg BT 145.25 115.20 Td (landscape ) Tj ET Q q 0 0 0 rg BT 178.79 115.20 Td (and ) Tj ET Q q 0 0 0 rg BT 192.34 115.20 Td (our ) Tj ET Q q 0 0 0 rg BT 205.00 115.20 Td (content ) Tj ET Q q 0 0 0 rg BT 230.55 115.20 Td (strategy) Tj ET Q q 0 0 0 rg BT 255.36 115.20 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 99.60 Td (Other) Tj ET Q q 0 0 0 rg BT 69.79 99.60 Td ( ) Tj ET Q q 0 0 0 rg BT 72.17 99.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 107.42 99.60 Td (costs:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 126.53 99.60 Td (Other ) Tj ET Q q 0 0 0 rg BT 149.12 99.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 181.70 99.60 Td (costs ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 200.07 99.60 Td (decreased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.60 99.60 Td ( ) Tj ET Q q 0 0 0 rg BT 233.97 99.60 Td (by ) Tj ET Q q 0 0 0 rg BT 244.35 99.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.95 99.60 Td (19.0 ) Tj ET Q q 0 0 0 rg BT 277.32 99.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 300.43 99.60 Td (, ) Tj ET Q q 0 0 0 rg BT 304.80 99.60 Td (or ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.84 99.60 Td (18%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.50 99.60 Td (, ) Tj ET Q q 0 0 0 rg BT 332.88 99.60 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.13 99.60 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.13 99.60 Td ( ) Tj ET Q q 0 0 0 rg BT 374.51 99.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 408.42 99.60 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.01 99.60 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.01 99.60 Td (. ) Tj ET Q q 0 0 0 rg BT 437.21 99.60 Td (The ) Tj ET Q q 0 0 0 rg BT 452.02 99.60 Td (decrease ) Tj ET Q q 0 0 0 rg BT 481.93 99.60 Td (is ) Tj ET Q q 0 0 0 rg BT 489.63 99.60 Td (primarily ) Tj ET Q q 0 0 0 rg BT 521.77 99.60 Td (due ) Tj ET Q q 0 0 0 rg BT 535.70 99.60 Td (to ) Tj ET Q q 0 0 0 rg BT 544.29 99.60 Td (lower ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 90.00 Td (transmission ) Tj ET Q q 0 0 0 rg BT 91.95 90.00 Td (costs, ) Tj ET Q q 0 0 0 rg BT 111.95 90.00 Td (including ) Tj ET Q q 0 0 0 rg BT 144.16 90.00 Td (savings ) Tj ET Q q 0 0 0 rg BT 170.16 90.00 Td (from ) Tj ET Q q 0 0 0 rg BT 187.71 90.00 Td (operating ) Tj ET Q q 0 0 0 rg BT 219.93 90.00 Td (fewer ) Tj ET Q q 0 0 0 rg BT 240.13 90.00 Td (channels ) Tj ET Q q 0 0 0 rg BT 270.12 90.00 Td (in ) Tj ET Q q 0 0 0 rg BT 278.34 90.00 Td (2014 ) Tj ET Q q 0 0 0 rg BT 296.34 90.00 Td (and ) Tj ET Q q 0 0 0 rg BT 309.89 90.00 Td (lower ) Tj ET Q q 0 0 0 rg BT 330.11 90.00 Td (staf) Tj ET Q q 0 0 0 rg BT 341.59 90.00 Td (f-related ) Tj ET Q q 0 0 0 rg BT 370.61 90.00 Td (costs ) Tj ET Q q 0 0 0 rg BT 388.61 90.00 Td (following ) Tj ET Q q 0 0 0 rg BT 421.71 90.00 Td (our ) Tj ET Q q 0 0 0 rg BT 434.38 90.00 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 477.25 90.00 Td (and ) Tj ET Q q 0 0 0 rg BT 490.80 90.00 Td (cost ) Tj ET Q q 0 0 0 rg BT 505.69 90.00 Td (reduction ) Tj ET Q q 0 0 0 rg BT 537.90 90.00 Td (ef) Tj ET Q q 0 0 0 rg BT 544.04 90.00 Td (forts.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 74.40 Td (Other ) Tj ET Q q 0 0 0 rg BT 69.54 74.40 Td (operating ) Tj ET Q q 0 0 0 rg BT 101.58 74.40 Td (costs ) Tj ET Q q 0 0 0 rg BT 119.41 74.40 Td (for ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.57 74.40 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.57 74.40 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 148.39 74.40 Td (increased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 178.60 74.40 Td ( ) Tj ET Q q 0 0 0 rg BT 180.43 74.40 Td (by ) Tj ET Q q 0 0 0 rg BT 190.25 74.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 206.31 74.40 Td (9.6 ) Tj ET Q q 0 0 0 rg BT 218.14 74.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.25 74.40 Td (, ) Tj ET Q q 0 0 0 rg BT 245.08 74.40 Td (or ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.57 74.40 Td (10%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 268.23 74.40 Td (, ) Tj ET Q q 0 0 0 rg BT 272.06 74.40 Td (compared ) Tj ET Q q 0 0 0 rg BT 305.43 74.40 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.48 74.40 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 329.48 74.40 Td (, ) Tj ET Q q 0 0 0 rg BT 333.31 74.40 Td (8% ) Tj ET Q q 0 0 0 rg BT 345.80 74.40 Td (on ) Tj ET Q q 0 0 0 rg BT 355.63 74.40 Td (a ) Tj ET Q q 0 0 0 rg BT 361.01 74.40 Td (constant ) Tj ET Q q 0 0 0 rg BT 389.50 74.40 Td (currency ) Tj ET Q q 0 0 0 rg BT 419.30 74.40 Td (basis. ) Tj ET Q q 0 0 0 rg BT 439.00 74.40 Td (W) Tj ET Q q 0 0 0 rg BT 445.91 74.40 Td (e ) Tj ET Q q 0 0 0 rg BT 451.29 74.40 Td (achieved ) Tj ET Q q 0 0 0 rg BT 481.54 74.40 Td (decreases ) Tj ET Q q 0 0 0 rg BT 514.02 74.40 Td (in ) Tj ET Q q 0 0 0 rg BT 522.07 74.40 Td (transmission ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 64.80 Td (and ) Tj ET Q q 0 0 0 rg BT 63.05 64.80 Td (staf) Tj ET Q q 0 0 0 rg BT 74.46 64.80 Td (f-related ) Tj ET Q q 0 0 0 rg BT 103.55 64.80 Td (costs, ) Tj ET Q q 0 0 0 rg BT 123.55 64.80 Td (however ) Tj ET Q q 0 0 0 rg BT 153.09 64.80 Td (these ) Tj ET Q q 0 0 0 rg BT 171.53 64.80 Td (were ) Tj ET Q q 0 0 0 rg BT 189.07 64.80 Td (more ) Tj ET Q q 0 0 0 rg BT 207.51 64.80 Td (than ) Tj ET Q q 0 0 0 rg BT 223.28 64.80 Td (of) Tj ET Q q 0 0 0 rg BT 229.80 64.80 Td (fset ) Tj ET Q q 0 0 0 rg BT 243.35 64.80 Td (by ) Tj ET Q q 0 0 0 rg BT 253.35 64.80 Td (the ) Tj ET Q q 0 0 0 rg BT 265.13 64.80 Td (cost ) Tj ET Q q 0 0 0 rg BT 280.01 64.80 Td (of ) Tj ET Q q 0 0 0 rg BT 288.68 64.80 Td (new ) Tj ET Q q 0 0 0 rg BT 304.00 64.80 Td (channel ) Tj ET Q q 0 0 0 rg BT 330.88 64.80 Td (launches.) Tj ET Q endstream endobj 63 0 obj <>] /Rotate 0 /Contents 64 0 R>> endobj 64 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (29) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 723.60 Td (Depr) Tj ET Q q 0 0 0 rg BT 66.68 723.60 Td (eciation ) Tj ET Q q 0 0 0 rg BT 95.29 723.60 Td (of ) Tj ET Q q 0 0 0 rg BT 103.90 723.60 Td (pr) Tj ET Q q 0 0 0 rg BT 111.75 723.60 Td (operty) Tj ET Q q 0 0 0 rg BT 133.53 723.60 Td (, ) Tj ET Q q 0 0 0 rg BT 137.47 723.60 Td (plant ) Tj ET Q q 0 0 0 rg BT 157.20 723.60 Td (and ) Tj ET Q q 0 0 0 rg BT 172.04 723.60 Td (equipment:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 211.16 723.60 Td () Tj ET Q q 0 0 0 rg BT 213.01 723.60 Td (T) Tj ET Q q 0 0 0 rg BT 217.34 723.60 Td (otal ) Tj ET Q q 0 0 0 rg BT 231.28 723.60 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 272.76 723.60 Td (of ) Tj ET Q q 0 0 0 rg BT 281.37 723.60 Td (property) Tj ET Q q 0 0 0 rg BT 307.95 723.60 Td (, ) Tj ET Q q 0 0 0 rg BT 311.89 723.60 Td (plant ) Tj ET Q q 0 0 0 rg BT 329.83 723.60 Td (and ) Tj ET Q q 0 0 0 rg BT 343.33 723.60 Td (equipment ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.04 723.60 Td (decreased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.57 723.60 Td ( ) Tj ET Q q 0 0 0 rg BT 412.52 723.60 Td (by ) Tj ET Q q 0 0 0 rg BT 422.46 723.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.63 723.60 Td (4.3 ) Tj ET Q q 0 0 0 rg BT 450.58 723.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.69 723.60 Td (, ) Tj ET Q q 0 0 0 rg BT 477.64 723.60 Td (or ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.24 723.60 Td (12%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.91 723.60 Td (, ) Tj ET Q q 0 0 0 rg BT 504.85 723.60 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 513.02 723.60 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.02 723.60 Td ( ) Tj ET Q q 0 0 0 rg BT 530.96 723.60 Td (compared ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 714.00 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.79 714.00 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 73.79 714.00 Td (. ) Tj ET Q q 0 0 0 rg BT 77.70 714.00 Td (T) Tj ET Q q 0 0 0 rg BT 82.03 714.00 Td (otal ) Tj ET Q q 0 0 0 rg BT 96.09 714.00 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 137.69 714.00 Td (of ) Tj ET Q q 0 0 0 rg BT 146.42 714.00 Td (property) Tj ET Q q 0 0 0 rg BT 173.01 714.00 Td (, ) Tj ET Q q 0 0 0 rg BT 177.07 714.00 Td (plant ) Tj ET Q q 0 0 0 rg BT 195.13 714.00 Td (and ) Tj ET Q q 0 0 0 rg BT 208.75 714.00 Td (equipment ) Tj ET Q q 0 0 0 rg BT 244.58 714.00 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 252.87 714.00 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 268.87 714.00 Td ( ) Tj ET Q q 0 0 0 rg BT 270.94 714.00 Td (decreased ) Tj ET Q q 0 0 0 rg BT 304.53 714.00 Td (by ) Tj ET Q q 0 0 0 rg BT 314.60 714.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.89 714.00 Td (4.3 ) Tj ET Q q 0 0 0 rg BT 342.96 714.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.07 714.00 Td (, ) Tj ET Q q 0 0 0 rg BT 370.14 714.00 Td (or ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 378.87 714.00 Td (10%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 393.53 714.00 Td (, ) Tj ET Q q 0 0 0 rg BT 397.59 714.00 Td (as ) Tj ET Q q 0 0 0 rg BT 406.32 714.00 Td (compared ) Tj ET Q q 0 0 0 rg BT 439.93 714.00 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 448.22 714.00 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.22 714.00 Td (. ) Tj ET Q q 0 0 0 rg BT 468.28 714.00 Td (On ) Tj ET Q q 0 0 0 rg BT 480.13 714.00 Td (a ) Tj ET Q q 0 0 0 rg BT 485.74 714.00 Td (constant ) Tj ET Q q 0 0 0 rg BT 514.47 714.00 Td (currency ) Tj ET Q q 0 0 0 rg BT 544.51 714.00 Td (basis, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 704.40 Td (depreciation ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 91.04 704.40 Td (decreased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 122.57 704.40 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 124.57 704.40 Td (9%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 135.23 704.40 Td ( ) Tj ET Q q 0 0 0 rg BT 137.23 704.40 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 150.78 704.40 Td (12%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 165.45 704.40 Td (, ) Tj ET Q q 0 0 0 rg BT 169.45 704.40 Td (respectively) Tj ET Q q 0 0 0 rg BT 207.57 704.40 Td (, ) Tj ET Q q 0 0 0 rg BT 211.57 704.40 Td (reflecting ) Tj ET Q q 0 0 0 rg BT 244.22 704.40 Td (a ) Tj ET Q q 0 0 0 rg BT 249.77 704.40 Td (decrease ) Tj ET Q q 0 0 0 rg BT 279.30 704.40 Td (in ) Tj ET Q q 0 0 0 rg BT 287.53 704.40 Td (capital ) Tj ET Q q 0 0 0 rg BT 310.85 704.40 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 353.72 704.40 Td (in ) Tj ET Q q 0 0 0 rg BT 361.95 704.40 Td (recent ) Tj ET Q q 0 0 0 rg BT 383.48 704.40 Td (years.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 688.80 Td (Amortization ) Tj ET Q q 0 0 0 rg BT 97.45 688.80 Td (of ) Tj ET Q q 0 0 0 rg BT 106.30 688.80 Td (br) Tj ET Q q 0 0 0 rg BT 114.15 688.80 Td (oadcast ) Tj ET Q q 0 0 0 rg BT 142.11 688.80 Td (licenses ) Tj ET Q q 0 0 0 rg BT 170.07 688.80 Td (and ) Tj ET Q q 0 0 0 rg BT 185.15 688.80 Td (other) Tj ET Q q 0 0 0 rg BT 203.22 688.80 Td ( ) Tj ET Q q 0 0 0 rg BT 205.41 688.80 Td (intangibles:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.41 688.80 Td ( ) Tj ET Q q 0 0 0 rg BT 247.44 688.80 Td (T) Tj ET Q q 0 0 0 rg BT 251.77 688.80 Td (otal ) Tj ET Q q 0 0 0 rg BT 265.95 688.80 Td (amortization ) Tj ET Q q 0 0 0 rg BT 308.56 688.80 Td (of ) Tj ET Q q 0 0 0 rg BT 317.41 688.80 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 350.24 688.80 Td (licenses ) Tj ET Q q 0 0 0 rg BT 377.75 688.80 Td (and ) Tj ET Q q 0 0 0 rg BT 391.49 688.80 Td (other ) Tj ET Q q 0 0 0 rg BT 410.11 688.80 Td (intangibles ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.40 688.80 Td (decreased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.93 688.80 Td ( ) Tj ET Q q 0 0 0 rg BT 481.11 688.80 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.52 688.80 Td (2.4 ) Tj ET Q q 0 0 0 rg BT 509.71 688.80 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.82 688.80 Td (, ) Tj ET Q q 0 0 0 rg BT 537.00 688.80 Td (or ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.85 688.80 Td (16%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 560.51 688.80 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 679.20 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.70 679.20 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 73.70 679.20 Td ( ) Tj ET Q q 0 0 0 rg BT 75.67 679.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 109.19 679.20 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 117.39 679.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 133.39 679.20 Td (. ) Tj ET Q q 0 0 0 rg BT 137.36 679.20 Td (On ) Tj ET Q q 0 0 0 rg BT 149.12 679.20 Td (a ) Tj ET Q q 0 0 0 rg BT 154.64 679.20 Td (constant ) Tj ET Q q 0 0 0 rg BT 183.28 679.20 Td (currency ) Tj ET Q q 0 0 0 rg BT 213.23 679.20 Td (basis, ) Tj ET Q q 0 0 0 rg BT 233.21 679.20 Td (the ) Tj ET Q q 0 0 0 rg BT 244.96 679.20 Td (decrease ) Tj ET Q q 0 0 0 rg BT 274.46 679.20 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 283.10 679.20 Td (13%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 297.77 679.20 Td ( ) Tj ET Q q 0 0 0 rg BT 299.74 679.20 Td (reflects ) Tj ET Q q 0 0 0 rg BT 325.26 679.20 Td (lower ) Tj ET Q q 0 0 0 rg BT 345.45 679.20 Td (amortization ) Tj ET Q q 0 0 0 rg BT 387.85 679.20 Td (expense ) Tj ET Q q 0 0 0 rg BT 415.60 679.20 Td (due ) Tj ET Q q 0 0 0 rg BT 429.12 679.20 Td (to ) Tj ET Q q 0 0 0 rg BT 437.32 679.20 Td (the ) Tj ET Q q 0 0 0 rg BT 449.07 679.20 Td (impairment ) Tj ET Q q 0 0 0 rg BT 487.92 679.20 Td (of ) Tj ET Q q 0 0 0 rg BT 496.56 679.20 Td (amortized ) Tj ET Q q 0 0 0 rg BT 530.52 679.20 Td (intangible ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 669.60 Td (assets ) Tj ET Q q 0 0 0 rg BT 70.16 669.60 Td (at ) Tj ET Q q 0 0 0 rg BT 77.94 669.60 Td (the ) Tj ET Q q 0 0 0 rg BT 89.71 669.60 Td (end ) Tj ET Q q 0 0 0 rg BT 103.26 669.60 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 111.93 669.60 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 127.93 669.60 Td ( ) Tj ET Q q 0 0 0 rg BT 129.93 669.60 Td (in ) Tj ET Q q 0 0 0 rg BT 138.15 669.60 Td (Bulgaria ) Tj ET Q q 0 0 0 rg BT 167.70 669.60 Td (and ) Tj ET Q q 0 0 0 rg BT 181.25 669.60 Td (Slovenia.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 654.00 Td (T) Tj ET Q q 0 0 0 rg BT 53.83 654.00 Td (otal ) Tj ET Q q 0 0 0 rg BT 67.92 654.00 Td (amortization ) Tj ET Q q 0 0 0 rg BT 110.45 654.00 Td (of ) Tj ET Q q 0 0 0 rg BT 119.21 654.00 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 151.96 654.00 Td (licenses ) Tj ET Q q 0 0 0 rg BT 179.39 654.00 Td (and ) Tj ET Q q 0 0 0 rg BT 193.04 654.00 Td (other ) Tj ET Q q 0 0 0 rg BT 211.57 654.00 Td (intangibles ) Tj ET Q q 0 0 0 rg BT 248.78 654.00 Td (decreased ) Tj ET Q q 0 0 0 rg BT 282.41 654.00 Td (by ) Tj ET Q q 0 0 0 rg BT 292.51 654.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 308.83 654.00 Td (27.9 ) Tj ET Q q 0 0 0 rg BT 324.93 654.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 348.04 654.00 Td (, ) Tj ET Q q 0 0 0 rg BT 352.14 654.00 Td (or ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 360.90 654.00 Td (65%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.57 654.00 Td (, ) Tj ET Q q 0 0 0 rg BT 379.67 654.00 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 387.99 654.00 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.99 654.00 Td ( ) Tj ET Q q 0 0 0 rg BT 406.09 654.00 Td (compared ) Tj ET Q q 0 0 0 rg BT 439.72 654.00 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 448.05 654.00 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.05 654.00 Td (. ) Tj ET Q q 0 0 0 rg BT 468.14 654.00 Td (On ) Tj ET Q q 0 0 0 rg BT 480.02 654.00 Td (a ) Tj ET Q q 0 0 0 rg BT 485.67 654.00 Td (constant ) Tj ET Q q 0 0 0 rg BT 514.43 654.00 Td (currency ) Tj ET Q q 0 0 0 rg BT 544.51 654.00 Td (basis, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 644.40 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 61.24 644.40 Td (decrease) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 88.77 644.40 Td ( ) Tj ET Q q 0 0 0 rg BT 90.74 644.40 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.37 644.40 Td (66%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 114.03 644.40 Td ( ) Tj ET Q q 0 0 0 rg BT 116.00 644.40 Td (reflects ) Tj ET Q q 0 0 0 rg BT 141.50 644.40 Td (lower ) Tj ET Q q 0 0 0 rg BT 161.68 644.40 Td (amortization ) Tj ET Q q 0 0 0 rg BT 204.08 644.40 Td (expense ) Tj ET Q q 0 0 0 rg BT 231.81 644.40 Td (due ) Tj ET Q q 0 0 0 rg BT 245.33 644.40 Td (to ) Tj ET Q q 0 0 0 rg BT 253.51 644.40 Td (the ) Tj ET Q q 0 0 0 rg BT 265.25 644.40 Td (impairment ) Tj ET Q q 0 0 0 rg BT 304.10 644.40 Td (of ) Tj ET Q q 0 0 0 rg BT 312.73 644.40 Td (amortized ) Tj ET Q q 0 0 0 rg BT 346.68 644.40 Td (intangible ) Tj ET Q q 0 0 0 rg BT 380.64 644.40 Td (assets ) Tj ET Q q 0 0 0 rg BT 401.27 644.40 Td (in ) Tj ET Q q 0 0 0 rg BT 409.45 644.40 Td (the ) Tj ET Q q 0 0 0 rg BT 421.19 644.40 Td (fourth ) Tj ET Q q 0 0 0 rg BT 442.71 644.40 Td (quarter ) Tj ET Q q 0 0 0 rg BT 467.33 644.40 Td (of ) Tj ET Q q 0 0 0 rg BT 475.96 644.40 Td (2012 ) Tj ET Q q 0 0 0 rg BT 493.92 644.40 Td (in ) Tj ET Q q 0 0 0 rg BT 502.11 644.40 Td (Bulgaria, ) Tj ET Q q 0 0 0 rg BT 533.63 644.40 Td (Romania ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 634.80 Td (and ) Tj ET Q q 0 0 0 rg BT 63.05 634.80 Td (the ) Tj ET Q q 0 0 0 rg BT 74.82 634.80 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 99.05 634.80 Td (Republic.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 619.20 Td (Selling, ) Tj ET Q q 0 0 0 rg BT 75.87 619.20 Td (general ) Tj ET Q q 0 0 0 rg BT 102.45 619.20 Td (and ) Tj ET Q q 0 0 0 rg BT 116.60 619.20 Td (administrative ) Tj ET Q q 0 0 0 rg BT 167.63 619.20 Td (expenses: ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 201.32 619.20 Td (Selling, ) Tj ET Q q 0 0 0 rg BT 227.25 619.20 Td (general ) Tj ET Q q 0 0 0 rg BT 252.04 619.20 Td (and ) Tj ET Q q 0 0 0 rg BT 264.84 619.20 Td (administrative ) Tj ET Q q 0 0 0 rg BT 311.86 619.20 Td (expenses ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 342.00 619.20 Td (increased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.20 619.20 Td ( ) Tj ET Q q 0 0 0 rg BT 373.45 619.20 Td (by ) Tj ET Q q 0 0 0 rg BT 382.71 619.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.19 619.20 Td (7.2 ) Tj ET Q q 0 0 0 rg BT 409.44 619.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.55 619.20 Td ( ) Tj ET Q q 0 0 0 rg BT 433.81 619.20 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.95 619.20 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.95 619.20 Td ( ) Tj ET Q q 0 0 0 rg BT 473.20 619.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 506.00 619.20 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 513.47 619.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.47 619.20 Td (, ) Tj ET Q q 0 0 0 rg BT 532.73 619.20 Td (primarily ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 609.60 Td (due ) Tj ET Q q 0 0 0 rg BT 63.10 609.60 Td (to ) Tj ET Q q 0 0 0 rg BT 71.37 609.60 Td (a ) Tj ET Q q 0 0 0 rg BT 76.97 609.60 Td (char) Tj ET Q q 0 0 0 rg BT 90.59 609.60 Td (ge ) Tj ET Q q 0 0 0 rg BT 100.19 609.60 Td (in ) Tj ET Q q 0 0 0 rg BT 108.46 609.60 Td (the ) Tj ET Q q 0 0 0 rg BT 120.28 609.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 141.88 609.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 166.58 609.60 Td (of ) Tj ET Q q 0 0 0 rg BT 175.29 609.60 Td (2014 ) Tj ET Q q 0 0 0 rg BT 193.34 609.60 Td (related ) Tj ET Q q 0 0 0 rg BT 217.15 609.60 Td (to ) Tj ET Q q 0 0 0 rg BT 225.42 609.60 Td (tax ) Tj ET Q q 0 0 0 rg BT 237.24 609.60 Td (audits ) Tj ET Q q 0 0 0 rg BT 258.40 609.60 Td (in ) Tj ET Q q 0 0 0 rg BT 266.67 609.60 Td (Romania. ) Tj ET Q q 0 0 0 rg BT 299.60 609.60 Td (Excluding ) Tj ET Q q 0 0 0 rg BT 334.53 609.60 Td (this ) Tj ET Q q 0 0 0 rg BT 348.13 609.60 Td (char) Tj ET Q q 0 0 0 rg BT 361.76 609.60 Td (ge, ) Tj ET Q q 0 0 0 rg BT 373.35 609.60 Td (selling, ) Tj ET Q q 0 0 0 rg BT 398.73 609.60 Td (general ) Tj ET Q q 0 0 0 rg BT 424.32 609.60 Td (and ) Tj ET Q q 0 0 0 rg BT 437.92 609.60 Td (administrative ) Tj ET Q q 0 0 0 rg BT 485.73 609.60 Td (expenses ) Tj ET Q q 0 0 0 rg BT 516.66 609.60 Td (decreased ) Tj ET Q q 0 0 0 rg BT 550.24 609.60 Td (as ) Tj ET Q q 0 0 0 rg BT 558.95 609.60 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 600.00 Td (result ) Tj ET Q q 0 0 0 rg BT 69.27 600.00 Td (of ) Tj ET Q q 0 0 0 rg BT 77.94 600.00 Td (our ) Tj ET Q q 0 0 0 rg BT 90.60 600.00 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 133.48 600.00 Td (and ) Tj ET Q q 0 0 0 rg BT 147.03 600.00 Td (cost ) Tj ET Q q 0 0 0 rg BT 161.91 600.00 Td (reduction ) Tj ET Q q 0 0 0 rg BT 194.13 600.00 Td (ef) Tj ET Q q 0 0 0 rg BT 200.20 600.00 Td (forts.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 584.40 Td (Selling, ) Tj ET Q q 0 0 0 rg BT 76.30 584.40 Td (general ) Tj ET Q q 0 0 0 rg BT 101.97 584.40 Td (and ) Tj ET Q q 0 0 0 rg BT 115.65 584.40 Td (administrative ) Tj ET Q q 0 0 0 rg BT 163.55 584.40 Td (expenses ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 194.56 584.40 Td (increased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 224.76 584.40 Td ( ) Tj ET Q q 0 0 0 rg BT 226.89 584.40 Td (by ) Tj ET Q q 0 0 0 rg BT 237.02 584.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.38 584.40 Td (1) Tj ET Q q 0 0 0 rg BT 257.08 584.40 Td (1.6 ) Tj ET Q q 0 0 0 rg BT 269.21 584.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.33 584.40 Td ( ) Tj ET Q q 0 0 0 rg BT 294.46 584.40 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.81 584.40 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 318.81 584.40 Td ( ) Tj ET Q q 0 0 0 rg BT 320.94 584.40 Td (compared ) Tj ET Q q 0 0 0 rg BT 354.61 584.40 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.96 584.40 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 378.96 584.40 Td (, ) Tj ET Q q 0 0 0 rg BT 383.10 584.40 Td (primarily ) Tj ET Q q 0 0 0 rg BT 415.00 584.40 Td (due ) Tj ET Q q 0 0 0 rg BT 428.68 584.40 Td (to ) Tj ET Q q 0 0 0 rg BT 437.03 584.40 Td (severance ) Tj ET Q q 0 0 0 rg BT 470.69 584.40 Td (char) Tj ET Q q 0 0 0 rg BT 484.31 584.40 Td (ges ) Tj ET Q q 0 0 0 rg BT 497.11 584.40 Td (that ) Tj ET Q q 0 0 0 rg BT 511.24 584.40 Td (were ) Tj ET Q q 0 0 0 rg BT 528.91 584.40 Td (not ) Tj ET Q q 0 0 0 rg BT 541.26 584.40 Td (part ) Tj ET Q q 0 0 0 rg BT 555.83 584.40 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 574.80 Td (our ) Tj ET Q q 0 0 0 rg BT 62.16 574.80 Td (or) Tj ET Q q 0 0 0 rg BT 68.68 574.80 Td (ganizational ) Tj ET Q q 0 0 0 rg BT 109.78 574.80 Td (restructuring, ) Tj ET Q q 0 0 0 rg BT 154.65 574.80 Td (including ) Tj ET Q q 0 0 0 rg BT 186.87 574.80 Td (with ) Tj ET Q q 0 0 0 rg BT 203.09 574.80 Td (respect ) Tj ET Q q 0 0 0 rg BT 227.75 574.80 Td (to ) Tj ET Q q 0 0 0 rg BT 235.97 574.80 Td (a ) Tj ET Q q 0 0 0 rg BT 241.52 574.80 Td (former ) Tj ET Q q 0 0 0 rg BT 265.29 574.80 Td (member ) Tj ET Q q 0 0 0 rg BT 293.50 574.80 Td (of ) Tj ET Q q 0 0 0 rg BT 302.16 574.80 Td (our ) Tj ET Q q 0 0 0 rg BT 314.82 574.80 Td (executive ) Tj ET Q q 0 0 0 rg BT 347.47 574.80 Td (management ) Tj ET Q q 0 0 0 rg BT 390.34 574.80 Td (team.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 559.20 Td (Included ) Tj ET Q q 0 0 0 rg BT 79.12 559.20 Td (in ) Tj ET Q q 0 0 0 rg BT 86.97 559.20 Td (selling, ) Tj ET Q q 0 0 0 rg BT 111.93 559.20 Td (general ) Tj ET Q q 0 0 0 rg BT 137.09 559.20 Td (and ) Tj ET Q q 0 0 0 rg BT 150.27 559.20 Td (administrative ) Tj ET Q q 0 0 0 rg BT 197.67 559.20 Td (expenses ) Tj ET Q q 0 0 0 rg BT 228.17 559.20 Td (are ) Tj ET Q q 0 0 0 rg BT 239.57 559.20 Td (central ) Tj ET Q q 0 0 0 rg BT 262.96 559.20 Td (costs, ) Tj ET Q q 0 0 0 rg BT 282.58 559.20 Td (which ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 303.76 559.20 Td (decreased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 335.29 559.20 Td ( ) Tj ET Q q 0 0 0 rg BT 336.92 559.20 Td (by ) Tj ET Q q 0 0 0 rg BT 346.55 559.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.40 559.20 Td (1) Tj ET Q q 0 0 0 rg BT 366.11 559.20 Td (1.3 ) Tj ET Q q 0 0 0 rg BT 377.74 559.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.85 559.20 Td (, ) Tj ET Q q 0 0 0 rg BT 404.48 559.20 Td (or ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.77 559.20 Td (27%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.43 559.20 Td (, ) Tj ET Q q 0 0 0 rg BT 431.06 559.20 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.58 559.20 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.58 559.20 Td ( ) Tj ET Q q 0 0 0 rg BT 471.20 559.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 504.37 559.20 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 512.22 559.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.22 559.20 Td (, ) Tj ET Q q 0 0 0 rg BT 531.85 559.20 Td (reflecting ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 549.60 Td (full ) Tj ET Q q 0 0 0 rg BT 62.94 549.60 Td (year ) Tj ET Q q 0 0 0 rg BT 79.03 549.60 Td (cost ) Tj ET Q q 0 0 0 rg BT 94.25 549.60 Td (savings ) Tj ET Q q 0 0 0 rg BT 120.57 549.60 Td (from ) Tj ET Q q 0 0 0 rg BT 138.45 549.60 Td (the ) Tj ET Q q 0 0 0 rg BT 150.55 549.60 Td (prior ) Tj ET Q q 0 0 0 rg BT 168.43 549.60 Td (year's ) Tj ET Q q 0 0 0 rg BT 189.08 549.60 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 232.29 549.60 Td (initiatives ) Tj ET Q q 0 0 0 rg BT 266.16 549.60 Td (and ) Tj ET Q q 0 0 0 rg BT 280.04 549.60 Td (a ) Tj ET Q q 0 0 0 rg BT 285.92 549.60 Td (one-time ) Tj ET Q q 0 0 0 rg BT 316.68 549.60 Td (char) Tj ET Q q 0 0 0 rg BT 330.30 549.60 Td (ge ) Tj ET Q q 0 0 0 rg BT 340.18 549.60 Td (for ) Tj ET Q q 0 0 0 rg BT 351.84 549.60 Td (executive ) Tj ET Q q 0 0 0 rg BT 384.82 549.60 Td (severance ) Tj ET Q q 0 0 0 rg BT 418.68 549.60 Td (in ) Tj ET Q q 0 0 0 rg BT 427.23 549.60 Td (2013. ) Tj ET Q q 0 0 0 rg BT 447.55 549.60 Td (Central ) Tj ET Q q 0 0 0 rg BT 473.43 549.60 Td (costs ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.76 549.60 Td (decreased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.29 549.60 Td ( ) Tj ET Q q 0 0 0 rg BT 525.62 549.60 Td (by ) Tj ET Q q 0 0 0 rg BT 535.95 549.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 552.50 549.60 Td (0.4 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 540.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 72.61 540.00 Td (, ) Tj ET Q q 0 0 0 rg BT 75.94 540.00 Td (or ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 83.93 540.00 Td (1%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 94.59 540.00 Td (, ) Tj ET Q q 0 0 0 rg BT 97.92 540.00 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 105.47 540.00 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 121.47 540.00 Td ( ) Tj ET Q q 0 0 0 rg BT 122.79 540.00 Td (compared ) Tj ET Q q 0 0 0 rg BT 155.66 540.00 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 163.21 540.00 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 179.21 540.00 Td (, ) Tj ET Q q 0 0 0 rg BT 182.54 540.00 Td (reflecting ) Tj ET Q q 0 0 0 rg BT 214.51 540.00 Td (cost ) Tj ET Q q 0 0 0 rg BT 228.72 540.00 Td (saving ) Tj ET Q q 0 0 0 rg BT 250.94 540.00 Td (as ) Tj ET Q q 0 0 0 rg BT 258.93 540.00 Td (a ) Tj ET Q q 0 0 0 rg BT 263.80 540.00 Td (result ) Tj ET Q q 0 0 0 rg BT 282.90 540.00 Td (of ) Tj ET Q q 0 0 0 rg BT 290.89 540.00 Td (our ) Tj ET Q q 0 0 0 rg BT 302.88 540.00 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 345.08 540.00 Td (ef) Tj ET Q q 0 0 0 rg BT 351.15 540.00 Td (forts, ) Tj ET Q q 0 0 0 rg BT 369.14 540.00 Td (which ) Tj ET Q q 0 0 0 rg BT 390.02 540.00 Td (was ) Tj ET Q q 0 0 0 rg BT 403.79 540.00 Td (lar) Tj ET Q q 0 0 0 rg BT 412.08 540.00 Td (gely ) Tj ET Q q 0 0 0 rg BT 427.18 540.00 Td (of) Tj ET Q q 0 0 0 rg BT 433.70 540.00 Td (fset ) Tj ET Q q 0 0 0 rg BT 446.58 540.00 Td (by ) Tj ET Q q 0 0 0 rg BT 455.90 540.00 Td (executive ) Tj ET Q q 0 0 0 rg BT 487.88 540.00 Td (severance ) Tj ET Q q 0 0 0 rg BT 520.74 540.00 Td (as ) Tj ET Q q 0 0 0 rg BT 528.73 540.00 Td (mentioned ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 530.40 Td (above.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 514.80 Td (Central ) Tj ET Q q 0 0 0 rg BT 75.16 514.80 Td (costs ) Tj ET Q q 0 0 0 rg BT 93.27 514.80 Td (include ) Tj ET Q q 0 0 0 rg BT 118.92 514.80 Td (a ) Tj ET Q q 0 0 0 rg BT 124.58 514.80 Td (char) Tj ET Q q 0 0 0 rg BT 138.20 514.80 Td (ge ) Tj ET Q q 0 0 0 rg BT 147.86 514.80 Td (of ) Tj ET Q q 0 0 0 rg BT 156.64 514.80 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 172.97 514.80 Td (1.3 ) Tj ET Q q 0 0 0 rg BT 185.08 514.80 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.20 514.80 Td ( ) Tj ET Q q 0 0 0 rg BT 210.30 514.80 Td (in ) Tj ET Q q 0 0 0 rg BT 218.64 514.80 Td (respect ) Tj ET Q q 0 0 0 rg BT 243.40 514.80 Td (of ) Tj ET Q q 0 0 0 rg BT 252.17 514.80 Td (non-cash ) Tj ET Q q 0 0 0 rg BT 283.16 514.80 Td (stock-based ) Tj ET Q q 0 0 0 rg BT 323.04 514.80 Td (compensation ) Tj ET Q q 0 0 0 rg BT 369.58 514.80 Td (which ) Tj ET Q q 0 0 0 rg BT 391.24 514.80 Td (is ) Tj ET Q q 0 0 0 rg BT 398.68 514.80 Td (not ) Tj ET Q q 0 0 0 rg BT 411.02 514.80 Td (allocated ) Tj ET Q q 0 0 0 rg BT 442.00 514.80 Td (to ) Tj ET Q q 0 0 0 rg BT 450.33 514.80 Td (our ) Tj ET Q q 0 0 0 rg BT 463.10 514.80 Td (operating ) Tj ET Q q 0 0 0 rg BT 495.42 514.80 Td (segments, ) Tj ET Q q 0 0 0 rg BT 529.30 514.80 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.96 514.80 Td (decrease) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 562.50 514.80 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 505.20 Td (of ) Tj ET Q q 0 0 0 rg BT 58.16 505.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 74.39 505.20 Td (2.9 ) Tj ET Q q 0 0 0 rg BT 86.39 505.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 109.50 505.20 Td ( ) Tj ET Q q 0 0 0 rg BT 111.50 505.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 145.04 505.20 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 153.27 505.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 169.27 505.20 Td ( ) Tj ET Q q 0 0 0 rg BT 171.27 505.20 Td (\(see ) Tj ET Q q 0 0 0 rg BT 186.14 505.20 Td (Item ) Tj ET Q q 0 0 0 rg BT 202.80 505.20 Td (8, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 210.80 505.20 Td (Note ) Tj ET Q q 0 0 0 rg BT 228.36 505.20 Td (17, ) Tj ET Q q 0 0 0 rg BT 240.36 505.20 Td ("Stock-based ) Tj ET Q q 0 0 0 rg BT 284.72 505.20 Td (Compensation") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 334.21 505.20 Td (\).) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 489.60 Td (Restructuring ) Tj ET Q q 0 0 0 rg BT 99.15 489.60 Td (costs:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 118.26 489.60 Td ( ) Tj ET Q q 0 0 0 rg BT 119.92 489.60 Td (Restructuring ) Tj ET Q q 0 0 0 rg BT 165.12 489.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 182.78 489.60 Td (totaled ) Tj ET Q q 0 0 0 rg BT 206.21 489.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 222.10 489.60 Td (9.9 ) Tj ET Q q 0 0 0 rg BT 233.75 489.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 256.87 489.60 Td ( ) Tj ET Q q 0 0 0 rg BT 258.53 489.60 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 281.07 489.60 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 297.07 489.60 Td ( ) Tj ET Q q 0 0 0 rg BT 298.73 489.60 Td (as ) Tj ET Q q 0 0 0 rg BT 307.06 489.60 Td (we ) Tj ET Q q 0 0 0 rg BT 318.04 489.60 Td (continued ) Tj ET Q q 0 0 0 rg BT 351.25 489.60 Td (to ) Tj ET Q q 0 0 0 rg BT 359.13 489.60 Td (streamline ) Tj ET Q q 0 0 0 rg BT 394.11 489.60 Td (resources ) Tj ET Q q 0 0 0 rg BT 425.98 489.60 Td (and ) Tj ET Q q 0 0 0 rg BT 439.19 489.60 Td (operate ) Tj ET Q q 0 0 0 rg BT 464.38 489.60 Td (with ) Tj ET Q q 0 0 0 rg BT 480.27 489.60 Td (a ) Tj ET Q q 0 0 0 rg BT 485.48 489.60 Td (more ) Tj ET Q q 0 0 0 rg BT 503.57 489.60 Td (ef) Tj ET Q q 0 0 0 rg BT 509.64 489.60 Td (ficient ) Tj ET Q q 0 0 0 rg BT 531.74 489.60 Td (cost ) Tj ET Q q 0 0 0 rg BT 546.28 489.60 Td (base, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 480.00 Td (particularly ) Tj ET Q q 0 0 0 rg BT 88.62 480.00 Td (in ) Tj ET Q q 0 0 0 rg BT 97.09 480.00 Td (our ) Tj ET Q q 0 0 0 rg BT 110.00 480.00 Td (segment ) Tj ET Q q 0 0 0 rg BT 138.91 480.00 Td (operations. ) Tj ET Q q 0 0 0 rg BT 176.48 480.00 Td (Our ) Tj ET Q q 0 0 0 rg BT 191.17 480.00 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 234.29 480.00 Td (char) Tj ET Q q 0 0 0 rg BT 247.91 480.00 Td (ges ) Tj ET Q q 0 0 0 rg BT 260.82 480.00 Td (of ) Tj ET Q q 0 0 0 rg BT 269.73 480.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 286.21 480.00 Td (18.5 ) Tj ET Q q 0 0 0 rg BT 302.45 480.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.57 480.00 Td ( ) Tj ET Q q 0 0 0 rg BT 327.81 480.00 Td (in ) Tj ET Q q 0 0 0 rg BT 336.28 480.00 Td (2013 ) Tj ET Q q 0 0 0 rg BT 354.53 480.00 Td (were ) Tj ET Q q 0 0 0 rg BT 372.32 480.00 Td (undertaken ) Tj ET Q q 0 0 0 rg BT 410.11 480.00 Td (to ) Tj ET Q q 0 0 0 rg BT 418.58 480.00 Td (reor) Tj ET Q q 0 0 0 rg BT 431.31 480.00 Td (ganize ) Tj ET Q q 0 0 0 rg BT 454.43 480.00 Td (our ) Tj ET Q q 0 0 0 rg BT 467.34 480.00 Td (business ) Tj ET Q q 0 0 0 rg BT 496.70 480.00 Td (to ) Tj ET Q q 0 0 0 rg BT 505.17 480.00 Td (streamline ) Tj ET Q q 0 0 0 rg BT 540.74 480.00 Td (central ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 470.40 Td (resources ) Tj ET Q q 0 0 0 rg BT 81.89 470.40 Td (and ) Tj ET Q q 0 0 0 rg BT 95.63 470.40 Td (reflect ) Tj ET Q q 0 0 0 rg BT 118.24 470.40 Td (how ) Tj ET Q q 0 0 0 rg BT 134.20 470.40 Td (operating ) Tj ET Q q 0 0 0 rg BT 166.60 470.40 Td (performance ) Tj ET Q q 0 0 0 rg BT 209.20 470.40 Td (within ) Tj ET Q q 0 0 0 rg BT 231.83 470.40 Td (the ) Tj ET Q q 0 0 0 rg BT 243.79 470.40 Td (Company ) Tj ET Q q 0 0 0 rg BT 277.09 470.40 Td (is ) Tj ET Q q 0 0 0 rg BT 284.61 470.40 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 317.44 470.40 Td (by ) Tj ET Q q 0 0 0 rg BT 327.63 470.40 Td (our ) Tj ET Q q 0 0 0 rg BT 340.48 470.40 Td (chief ) Tj ET Q q 0 0 0 rg BT 358.65 470.40 Td (operating ) Tj ET Q q 0 0 0 rg BT 391.05 470.40 Td (decision ) Tj ET Q q 0 0 0 rg BT 419.89 470.40 Td (makers, ) Tj ET Q q 0 0 0 rg BT 447.18 470.40 Td (how ) Tj ET Q q 0 0 0 rg BT 463.14 470.40 Td (our ) Tj ET Q q 0 0 0 rg BT 475.99 470.40 Td (operations ) Tj ET Q q 0 0 0 rg BT 511.50 470.40 Td (are ) Tj ET Q q 0 0 0 rg BT 523.46 470.40 Td (managed ) Tj ET Q q 0 0 0 rg BT 554.52 470.40 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 460.80 Td (segment ) Tj ET Q q 0 0 0 rg BT 78.16 460.80 Td (managers, ) Tj ET Q q 0 0 0 rg BT 112.81 460.80 Td (and ) Tj ET Q q 0 0 0 rg BT 126.36 460.80 Td (the ) Tj ET Q q 0 0 0 rg BT 138.14 460.80 Td (structure ) Tj ET Q q 0 0 0 rg BT 168.13 460.80 Td (of ) Tj ET Q q 0 0 0 rg BT 176.79 460.80 Td (our ) Tj ET Q q 0 0 0 rg BT 189.45 460.80 Td (internal ) Tj ET Q q 0 0 0 rg BT 215.89 460.80 Td (financial ) Tj ET Q q 0 0 0 rg BT 245.87 460.80 Td (reporting. ) Tj ET Q q 0 0 0 rg BT 279.20 460.80 Td (See ) Tj ET Q q 0 0 0 rg BT 292.75 460.80 Td (Item ) Tj ET Q q 0 0 0 rg BT 309.41 460.80 Td (8,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 317.41 460.80 Td (Note ) Tj ET Q q 0 0 0 rg BT 334.96 460.80 Td (15, ) Tj ET Q q 0 0 0 rg BT 346.96 460.80 Td ("Restructuring ) Tj ET Q q 0 0 0 rg BT 395.77 460.80 Td (Costs") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.82 460.80 Td (. ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 445.20 Td (Impairment ) Tj ET Q q 0 0 0 rg BT 93.19 445.20 Td (charge:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 118.95 445.20 Td ( ) Tj ET Q q 0 0 0 rg BT 121.14 445.20 Td (W) Tj ET Q q 0 0 0 rg BT 128.05 445.20 Td (e ) Tj ET Q q 0 0 0 rg BT 133.96 445.20 Td (did ) Tj ET Q q 0 0 0 rg BT 146.54 445.20 Td (not ) Tj ET Q q 0 0 0 rg BT 159.12 445.20 Td (recognize ) Tj ET Q q 0 0 0 rg BT 192.57 445.20 Td (any ) Tj ET Q q 0 0 0 rg BT 206.48 445.20 Td (impairment ) Tj ET Q q 0 0 0 rg BT 245.72 445.20 Td (char) Tj ET Q q 0 0 0 rg BT 259.34 445.20 Td (ges ) Tj ET Q q 0 0 0 rg BT 272.36 445.20 Td (in ) Tj ET Q q 0 0 0 rg BT 280.94 445.20 Td (respect ) Tj ET Q q 0 0 0 rg BT 305.95 445.20 Td (of ) Tj ET Q q 0 0 0 rg BT 314.97 445.20 Td (goodwill, ) Tj ET Q q 0 0 0 rg BT 347.78 445.20 Td (tangible ) Tj ET Q q 0 0 0 rg BT 375.91 445.20 Td (and ) Tj ET Q q 0 0 0 rg BT 389.81 445.20 Td (intangible ) Tj ET Q q 0 0 0 rg BT 424.17 445.20 Td (assets ) Tj ET Q q 0 0 0 rg BT 445.19 445.20 Td (during ) Tj ET Q q 0 0 0 rg BT 468.43 445.20 Td (2014. ) Tj ET Q q 0 0 0 rg BT 488.79 445.20 Td (In ) Tj ET Q q 0 0 0 rg BT 497.81 445.20 Td (connection ) Tj ET Q q 0 0 0 rg BT 535.27 445.20 Td (with ) Tj ET Q q 0 0 0 rg BT 551.85 445.20 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 435.60 Td (2014 ) Tj ET Q q 0 0 0 rg BT 68.09 435.60 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 99.13 435.60 Td (impairment ) Tj ET Q q 0 0 0 rg BT 138.60 435.60 Td (analysis, ) Tj ET Q q 0 0 0 rg BT 168.96 435.60 Td (we ) Tj ET Q q 0 0 0 rg BT 180.88 435.60 Td (concluded ) Tj ET Q q 0 0 0 rg BT 216.35 435.60 Td (that ) Tj ET Q q 0 0 0 rg BT 230.93 435.60 Td (the ) Tj ET Q q 0 0 0 rg BT 243.30 435.60 Td (total ) Tj ET Q q 0 0 0 rg BT 260.11 435.60 Td (estimated ) Tj ET Q q 0 0 0 rg BT 293.35 435.60 Td (fair ) Tj ET Q q 0 0 0 rg BT 307.05 435.60 Td (values ) Tj ET Q q 0 0 0 rg BT 330.07 435.60 Td (used ) Tj ET Q q 0 0 0 rg BT 347.33 435.60 Td (for ) Tj ET Q q 0 0 0 rg BT 359.25 435.60 Td (purposes ) Tj ET Q q 0 0 0 rg BT 390.28 435.60 Td (of ) Tj ET Q q 0 0 0 rg BT 399.54 435.60 Td (the ) Tj ET Q q 0 0 0 rg BT 411.90 435.60 Td (test ) Tj ET Q q 0 0 0 rg BT 425.60 435.60 Td (were ) Tj ET Q q 0 0 0 rg BT 443.73 435.60 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 480.53 435.60 Td (by ) Tj ET Q q 0 0 0 rg BT 491.12 435.60 Td (comparing ) Tj ET Q q 0 0 0 rg BT 527.92 435.60 Td (the ) Tj ET Q q 0 0 0 rg BT 540.28 435.60 Td (market ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 426.00 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 94.29 426.00 Td (of ) Tj ET Q q 0 0 0 rg BT 102.64 426.00 Td (the ) Tj ET Q q 0 0 0 rg BT 114.11 426.00 Td (Company ) Tj ET Q q 0 0 0 rg BT 146.92 426.00 Td (to ) Tj ET Q q 0 0 0 rg BT 154.84 426.00 Td (the ) Tj ET Q q 0 0 0 rg BT 166.30 426.00 Td (results ) Tj ET Q q 0 0 0 rg BT 188.89 426.00 Td (of ) Tj ET Q q 0 0 0 rg BT 197.25 426.00 Td (the ) Tj ET Q q 0 0 0 rg BT 208.71 426.00 Td (discounted ) Tj ET Q q 0 0 0 rg BT 245.07 426.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 260.98 426.00 Td (flows ) Tj ET Q q 0 0 0 rg BT 280.45 426.00 Td (analysis ) Tj ET Q q 0 0 0 rg BT 307.92 426.00 Td (of ) Tj ET Q q 0 0 0 rg BT 316.28 426.00 Td (our ) Tj ET Q q 0 0 0 rg BT 328.64 426.00 Td (reporting ) Tj ET Q q 0 0 0 rg BT 359.66 426.00 Td (units, ) Tj ET Q q 0 0 0 rg BT 378.91 426.00 Td (as ) Tj ET Q q 0 0 0 rg BT 387.27 426.00 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 415.63 426.00 Td (for ) Tj ET Q q 0 0 0 rg BT 426.65 426.00 Td (unallocated ) Tj ET Q q 0 0 0 rg BT 465.22 426.00 Td (corporate ) Tj ET Q q 0 0 0 rg BT 497.12 426.00 Td (assets ) Tj ET Q q 0 0 0 rg BT 517.48 426.00 Td (and ) Tj ET Q q 0 0 0 rg BT 530.72 426.00 Td (liabilities.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 410.40 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 410.40 Td (e ) Tj ET Q q 0 0 0 rg BT 61.73 410.40 Td (recognized ) Tj ET Q q 0 0 0 rg BT 98.59 410.40 Td (impairment ) Tj ET Q q 0 0 0 rg BT 137.24 410.40 Td (char) Tj ET Q q 0 0 0 rg BT 150.86 410.40 Td (ges ) Tj ET Q q 0 0 0 rg BT 163.29 410.40 Td (amounting ) Tj ET Q q 0 0 0 rg BT 199.28 410.40 Td (to ) Tj ET Q q 0 0 0 rg BT 207.27 410.40 Td (US$) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 223.49 410.40 Td (79.7million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 262.61 410.40 Td (in ) Tj ET Q q 0 0 0 rg BT 272.60 410.40 Td (respect ) Tj ET Q q 0 0 0 rg BT 297.02 410.40 Td (of ) Tj ET Q q 0 0 0 rg BT 305.45 410.40 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 335.67 410.40 Td (and ) Tj ET Q q 0 0 0 rg BT 348.99 410.40 Td (other ) Tj ET Q q 0 0 0 rg BT 367.19 410.40 Td (intangible ) Tj ET Q q 0 0 0 rg BT 400.95 410.40 Td (assets ) Tj ET Q q 0 0 0 rg BT 421.38 410.40 Td (in2013. ) Tj ET Q q 0 0 0 rg BT 449.25 410.40 Td (The ) Tj ET Q q 0 0 0 rg BT 463.45 410.40 Td (impairments ) Tj ET Q q 0 0 0 rg BT 505.21 410.40 Td (recorded ) Tj ET Q q 0 0 0 rg BT 534.96 410.40 Td (included ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 400.80 Td (US$12.3 ) Tj ET Q q 0 0 0 rg BT 81.49 400.80 Td (millionrelated ) Tj ET Q q 0 0 0 rg BT 130.12 400.80 Td (to ) Tj ET Q q 0 0 0 rg BT 138.11 400.80 Td (the ) Tj ET Q q 0 0 0 rg BT 149.64 400.80 Td (bTV) Tj ET Q q 0 0 0 rg BT 164.16 400.80 Td ( ) Tj ET Q q 0 0 0 rg BT 165.92 400.80 Td (trademark ) Tj ET Q q 0 0 0 rg BT 200.11 400.80 Td (in ) Tj ET Q q 0 0 0 rg BT 208.09 400.80 Td (Bulgaria, ) Tj ET Q q 0 0 0 rg BT 239.40 400.80 Td (US$23.6 ) Tj ET Q q 0 0 0 rg BT 271.39 400.80 Td (millionrelated ) Tj ET Q q 0 0 0 rg BT 320.02 400.80 Td (to ) Tj ET Q q 0 0 0 rg BT 328.00 400.80 Td (the ) Tj ET Q q 0 0 0 rg BT 339.54 400.80 Td (customer ) Tj ET Q q 0 0 0 rg BT 370.62 400.80 Td (relationships ) Tj ET Q q 0 0 0 rg BT 413.27 400.80 Td (intangible ) Tj ET Q q 0 0 0 rg BT 447.02 400.80 Td (in ) Tj ET Q q 0 0 0 rg BT 455.00 400.80 Td (Bulgaria, ) Tj ET Q q 0 0 0 rg BT 486.31 400.80 Td (US$7.6 ) Tj ET Q q 0 0 0 rg BT 514.30 400.80 Td (millionto ) Tj ET Q q 0 0 0 rg BT 547.40 400.80 Td (fully ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 391.20 Td (impair ) Tj ET Q q 0 0 0 rg BT 71.91 391.20 Td (the ) Tj ET Q q 0 0 0 rg BT 83.21 391.20 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 115.39 391.20 Td (license ) Tj ET Q q 0 0 0 rg BT 139.13 391.20 Td (in ) Tj ET Q q 0 0 0 rg BT 146.87 391.20 Td (Slovenia, ) Tj ET Q q 0 0 0 rg BT 178.40 391.20 Td (and ) Tj ET Q q 0 0 0 rg BT 191.47 391.20 Td (US$36.2 ) Tj ET Q q 0 0 0 rg BT 223.23 391.20 Td (millionrelated ) Tj ET Q q 0 0 0 rg BT 271.63 391.20 Td (to ) Tj ET Q q 0 0 0 rg BT 279.38 391.20 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 309.35 391.20 Td (in ) Tj ET Q q 0 0 0 rg BT 317.10 391.20 Td (Bulgaria ) Tj ET Q q 0 0 0 rg BT 346.17 391.20 Td (and ) Tj ET Q q 0 0 0 rg BT 359.25 391.20 Td (Slovenia ) Tj ET Q q 0 0 0 rg BT 388.77 391.20 Td (\(see ) Tj ET Q q 0 0 0 rg BT 403.18 391.20 Td (Item ) Tj ET Q q 0 0 0 rg BT 419.36 391.20 Td (8,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.36 391.20 Td (Note ) Tj ET Q q 0 0 0 rg BT 444.44 391.20 Td (4, ) Tj ET Q q 0 0 0 rg BT 451.97 391.20 Td ("Goodwill ) Tj ET Q q 0 0 0 rg BT 486.98 391.20 Td (and ) Tj ET Q q 0 0 0 rg BT 500.06 391.20 Td (Intangible ) Tj ET Q q 0 0 0 rg BT 533.68 391.20 Td (Assets") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 557.84 391.20 Td (\). ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 375.60 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 375.60 Td (e ) Tj ET Q q 0 0 0 rg BT 62.55 375.60 Td (recognized ) Tj ET Q q 0 0 0 rg BT 100.24 375.60 Td (impairment ) Tj ET Q q 0 0 0 rg BT 139.71 375.60 Td (char) Tj ET Q q 0 0 0 rg BT 153.33 375.60 Td (ges ) Tj ET Q q 0 0 0 rg BT 166.59 375.60 Td (amounting ) Tj ET Q q 0 0 0 rg BT 203.40 375.60 Td (to ) Tj ET Q q 0 0 0 rg BT 212.22 375.60 Td (US$) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 228.45 375.60 Td (516.2million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.56 375.60 Td (in ) Tj ET Q q 0 0 0 rg BT 282.38 375.60 Td (respect ) Tj ET Q q 0 0 0 rg BT 307.62 375.60 Td (of ) Tj ET Q q 0 0 0 rg BT 316.88 375.60 Td (goodwill, ) Tj ET Q q 0 0 0 rg BT 349.92 375.60 Td (tangible ) Tj ET Q q 0 0 0 rg BT 378.28 375.60 Td (and ) Tj ET Q q 0 0 0 rg BT 392.43 375.60 Td (intangible ) Tj ET Q q 0 0 0 rg BT 427.01 375.60 Td (assets ) Tj ET Q q 0 0 0 rg BT 448.27 375.60 Td (in2012. ) Tj ET Q q 0 0 0 rg BT 476.90 375.60 Td (The ) Tj ET Q q 0 0 0 rg BT 491.93 375.60 Td (impairments ) Tj ET Q q 0 0 0 rg BT 534.52 375.60 Td (recorded ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 366.00 Td (included ) Tj ET Q q 0 0 0 rg BT 78.97 366.00 Td (US$ ) Tj ET Q q 0 0 0 rg BT 95.12 366.00 Td (7.2 ) Tj ET Q q 0 0 0 rg BT 107.04 366.00 Td (million ) Tj ET Q q 0 0 0 rg BT 132.07 366.00 Td (related ) Tj ET Q q 0 0 0 rg BT 155.76 366.00 Td (to ) Tj ET Q q 0 0 0 rg BT 163.90 366.00 Td (the ) Tj ET Q q 0 0 0 rg BT 175.60 366.00 Td (bTV) Tj ET Q q 0 0 0 rg BT 190.12 366.00 Td ( ) Tj ET Q q 0 0 0 rg BT 192.04 366.00 Td (trademark ) Tj ET Q q 0 0 0 rg BT 226.39 366.00 Td (in ) Tj ET Q q 0 0 0 rg BT 234.53 366.00 Td (Bulgaria, ) Tj ET Q q 0 0 0 rg BT 266.00 366.00 Td (US$ ) Tj ET Q q 0 0 0 rg BT 282.15 366.00 Td (28.1 ) Tj ET Q q 0 0 0 rg BT 298.07 366.00 Td (million ) Tj ET Q q 0 0 0 rg BT 323.11 366.00 Td (to ) Tj ET Q q 0 0 0 rg BT 331.25 366.00 Td (fully ) Tj ET Q q 0 0 0 rg BT 348.28 366.00 Td (impair ) Tj ET Q q 0 0 0 rg BT 371.09 366.00 Td (the ) Tj ET Q q 0 0 0 rg BT 382.78 366.00 Td (customer ) Tj ET Q q 0 0 0 rg BT 414.03 366.00 Td (relationship ) Tj ET Q q 0 0 0 rg BT 453.72 366.00 Td (intangible ) Tj ET Q q 0 0 0 rg BT 487.63 366.00 Td (in ) Tj ET Q q 0 0 0 rg BT 495.78 366.00 Td (the ) Tj ET Q q 0 0 0 rg BT 507.47 366.00 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 531.62 366.00 Td (Republic, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 356.40 Td (US$ ) Tj ET Q q 0 0 0 rg BT 65.96 356.40 Td (174.3 ) Tj ET Q q 0 0 0 rg BT 86.19 356.40 Td (million ) Tj ET Q q 0 0 0 rg BT 111.53 356.40 Td (to ) Tj ET Q q 0 0 0 rg BT 119.98 356.40 Td (fully ) Tj ET Q q 0 0 0 rg BT 137.32 356.40 Td (impair ) Tj ET Q q 0 0 0 rg BT 160.44 356.40 Td (the ) Tj ET Q q 0 0 0 rg BT 172.44 356.40 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 205.32 356.40 Td (licenses ) Tj ET Q q 0 0 0 rg BT 232.88 356.40 Td (in ) Tj ET Q q 0 0 0 rg BT 241.33 356.40 Td (Bulgaria, ) Tj ET Q q 0 0 0 rg BT 273.11 356.40 Td (Romania ) Tj ET Q q 0 0 0 rg BT 304.22 356.40 Td (and ) Tj ET Q q 0 0 0 rg BT 318.00 356.40 Td (the ) Tj ET Q q 0 0 0 rg BT 330.01 356.40 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 354.46 356.40 Td (Republic, ) Tj ET Q q 0 0 0 rg BT 387.57 356.40 Td (US$ ) Tj ET Q q 0 0 0 rg BT 404.03 356.40 Td (297.9 ) Tj ET Q q 0 0 0 rg BT 424.26 356.40 Td (million ) Tj ET Q q 0 0 0 rg BT 449.61 356.40 Td (related ) Tj ET Q q 0 0 0 rg BT 473.60 356.40 Td (to ) Tj ET Q q 0 0 0 rg BT 482.05 356.40 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 512.73 356.40 Td (in ) Tj ET Q q 0 0 0 rg BT 521.18 356.40 Td (Bulgaria ) Tj ET Q q 0 0 0 rg BT 550.96 356.40 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 346.80 Td (the ) Tj ET Q q 0 0 0 rg BT 61.27 346.80 Td (Czech ) Tj ET Q q 0 0 0 rg BT 83.26 346.80 Td (Republic, ) Tj ET Q q 0 0 0 rg BT 116.14 346.80 Td (and ) Tj ET Q q 0 0 0 rg BT 129.70 346.80 Td (US$ ) Tj ET Q q 0 0 0 rg BT 145.92 346.80 Td (8.7 ) Tj ET Q q 0 0 0 rg BT 157.92 346.80 Td (million ) Tj ET Q q 0 0 0 rg BT 183.04 346.80 Td (related ) Tj ET Q q 0 0 0 rg BT 206.80 346.80 Td (to ) Tj ET Q q 0 0 0 rg BT 215.02 346.80 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 249.90 346.80 Td (assets ) Tj ET Q q 0 0 0 rg BT 270.57 346.80 Td (\(see ) Tj ET Q q 0 0 0 rg BT 285.45 346.80 Td (Item ) Tj ET Q q 0 0 0 rg BT 302.11 346.80 Td (8, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 310.11 346.80 Td (Note ) Tj ET Q q 0 0 0 rg BT 327.66 346.80 Td (4, ) Tj ET Q q 0 0 0 rg BT 335.66 346.80 Td ("Goodwill ) Tj ET Q q 0 0 0 rg BT 371.14 346.80 Td (and ) Tj ET Q q 0 0 0 rg BT 384.70 346.80 Td (Intangible ) Tj ET Q q 0 0 0 rg BT 418.69 346.80 Td (Assets") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.84 346.80 Td (\).) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 331.20 Td (Operating ) Tj ET Q q 0 0 0 rg BT 86.64 331.20 Td (income ) Tj ET Q q 0 0 0 rg BT 113.11 331.20 Td (/ ) Tj ET Q q 0 0 0 rg BT 117.36 331.20 Td (\(loss\):) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 137.80 331.20 Td ( ) Tj ET Q q 0 0 0 rg BT 139.84 331.20 Td (Operating ) Tj ET Q q 0 0 0 rg BT 173.86 331.20 Td (income ) Tj ET Q q 0 0 0 rg BT 199.43 331.20 Td (for ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 210.79 331.20 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.79 331.20 Td ( ) Tj ET Q q 0 0 0 rg BT 228.82 331.20 Td (was ) Tj ET Q q 0 0 0 rg BT 243.30 331.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 259.55 331.20 Td (38.3 ) Tj ET Q q 0 0 0 rg BT 275.59 331.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.70 331.20 Td ( ) Tj ET Q q 0 0 0 rg BT 300.73 331.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 334.30 331.20 Td (to ) Tj ET Q q 0 0 0 rg BT 342.55 331.20 Td (an ) Tj ET Q q 0 0 0 rg BT 352.14 331.20 Td (operating ) Tj ET Q q 0 0 0 rg BT 384.38 331.20 Td (loss ) Tj ET Q q 0 0 0 rg BT 398.86 331.20 Td (of ) Tj ET Q q 0 0 0 rg BT 407.55 331.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.81 331.20 Td (180.0 ) Tj ET Q q 0 0 0 rg BT 443.84 331.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.96 331.20 Td ( ) Tj ET Q q 0 0 0 rg BT 468.99 331.20 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.24 331.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 493.24 331.20 Td (. ) Tj ET Q q 0 0 0 rg BT 497.13 331.20 Td (The ) Tj ET Q q 0 0 0 rg BT 511.60 331.20 Td (improvement ) Tj ET Q q 0 0 0 rg BT 556.28 331.20 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 321.60 Td (profitability ) Tj ET Q q 0 0 0 rg BT 89.58 321.60 Td (is ) Tj ET Q q 0 0 0 rg BT 96.79 321.60 Td (lar) Tj ET Q q 0 0 0 rg BT 105.08 321.60 Td (gely ) Tj ET Q q 0 0 0 rg BT 120.72 321.60 Td (due ) Tj ET Q q 0 0 0 rg BT 134.14 321.60 Td (to ) Tj ET Q q 0 0 0 rg BT 142.23 321.60 Td (increased ) Tj ET Q q 0 0 0 rg BT 174.30 321.60 Td (television ) Tj ET Q q 0 0 0 rg BT 207.28 321.60 Td (and ) Tj ET Q q 0 0 0 rg BT 220.70 321.60 Td (carriage ) Tj ET Q q 0 0 0 rg BT 248.32 321.60 Td (fee ) Tj ET Q q 0 0 0 rg BT 259.95 321.60 Td (revenues ) Tj ET Q q 0 0 0 rg BT 290.25 321.60 Td (while ) Tj ET Q q 0 0 0 rg BT 309.89 321.60 Td (maintaining ) Tj ET Q q 0 0 0 rg BT 349.97 321.60 Td (ef) Tj ET Q q 0 0 0 rg BT 356.04 321.60 Td (fective ) Tj ET Q q 0 0 0 rg BT 379.67 321.60 Td (cost ) Tj ET Q q 0 0 0 rg BT 394.43 321.60 Td (control ) Tj ET Q q 0 0 0 rg BT 418.96 321.60 Td (ef) Tj ET Q q 0 0 0 rg BT 425.03 321.60 Td (forts. ) Tj ET Q q 0 0 0 rg BT 443.42 321.60 Td (The ) Tj ET Q q 0 0 0 rg BT 457.73 321.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 489.81 321.60 Td (results ) Tj ET Q q 0 0 0 rg BT 512.56 321.60 Td (of ) Tj ET Q q 0 0 0 rg BT 521.10 321.60 Td (2013 ) Tj ET Q q 0 0 0 rg BT 538.96 321.60 Td (include ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 312.00 Td (impairment ) Tj ET Q q 0 0 0 rg BT 88.38 312.00 Td (char) Tj ET Q q 0 0 0 rg BT 102.00 312.00 Td (ges ) Tj ET Q q 0 0 0 rg BT 114.66 312.00 Td (in ) Tj ET Q q 0 0 0 rg BT 122.89 312.00 Td (respect ) Tj ET Q q 0 0 0 rg BT 147.54 312.00 Td (of ) Tj ET Q q 0 0 0 rg BT 156.20 312.00 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 186.65 312.00 Td (and ) Tj ET Q q 0 0 0 rg BT 200.20 312.00 Td (other ) Tj ET Q q 0 0 0 rg BT 218.64 312.00 Td (intangible ) Tj ET Q q 0 0 0 rg BT 252.63 312.00 Td (assets ) Tj ET Q q 0 0 0 rg BT 273.29 312.00 Td (which ) Tj ET Q q 0 0 0 rg BT 294.84 312.00 Td (did ) Tj ET Q q 0 0 0 rg BT 307.07 312.00 Td (not ) Tj ET Q q 0 0 0 rg BT 319.29 312.00 Td (repeat ) Tj ET Q q 0 0 0 rg BT 340.83 312.00 Td (in ) Tj ET Q q 0 0 0 rg BT 349.05 312.00 Td (2014.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 296.40 Td (Operating ) Tj ET Q q 0 0 0 rg BT 82.93 296.40 Td (loss ) Tj ET Q q 0 0 0 rg BT 96.82 296.40 Td (for ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 107.60 296.40 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 123.60 296.40 Td ( ) Tj ET Q q 0 0 0 rg BT 125.04 296.40 Td (was ) Tj ET Q q 0 0 0 rg BT 138.92 296.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 154.59 296.40 Td (180.0 ) Tj ET Q q 0 0 0 rg BT 174.04 296.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 197.15 296.40 Td ( ) Tj ET Q q 0 0 0 rg BT 198.59 296.40 Td (compared ) Tj ET Q q 0 0 0 rg BT 231.58 296.40 Td (to ) Tj ET Q q 0 0 0 rg BT 239.24 296.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 254.91 296.40 Td (479.8 ) Tj ET Q q 0 0 0 rg BT 274.36 296.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 297.47 296.40 Td ( ) Tj ET Q q 0 0 0 rg BT 298.91 296.40 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.58 296.40 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.58 296.40 Td (, ) Tj ET Q q 0 0 0 rg BT 326.02 296.40 Td (primarily ) Tj ET Q q 0 0 0 rg BT 357.23 296.40 Td (as ) Tj ET Q q 0 0 0 rg BT 365.34 296.40 Td (a ) Tj ET Q q 0 0 0 rg BT 370.34 296.40 Td (result ) Tj ET Q q 0 0 0 rg BT 389.55 296.40 Td (of ) Tj ET Q q 0 0 0 rg BT 397.66 296.40 Td (the ) Tj ET Q q 0 0 0 rg BT 408.88 296.40 Td (impairments ) Tj ET Q q 0 0 0 rg BT 450.31 296.40 Td (of ) Tj ET Q q 0 0 0 rg BT 458.42 296.40 Td (goodwill, ) Tj ET Q q 0 0 0 rg BT 490.31 296.40 Td (tangible ) Tj ET Q q 0 0 0 rg BT 517.52 296.40 Td (and ) Tj ET Q q 0 0 0 rg BT 530.52 296.40 Td (intangible ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 286.80 Td (assets. ) Tj ET Q q 0 0 0 rg BT 72.16 286.80 Td (Our ) Tj ET Q q 0 0 0 rg BT 86.61 286.80 Td (operating ) Tj ET Q q 0 0 0 rg BT 118.82 286.80 Td (mar) Tj ET Q q 0 0 0 rg BT 131.11 286.80 Td (gin ) Tj ET Q q 0 0 0 rg BT 143.33 286.80 Td (was ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 157.77 286.80 Td (5.6%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 174.44 286.80 Td ( ) Tj ET Q q 0 0 0 rg BT 176.44 286.80 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 184.66 286.80 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 200.66 286.80 Td (, ) Tj ET Q q 0 0 0 rg BT 204.66 286.80 Td (compared ) Tj ET Q q 0 0 0 rg BT 238.20 286.80 Td (to ) Tj ET Q q 0 0 0 rg BT 246.42 286.80 Td (negative ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 275.52 286.80 Td (28.4%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.18 286.80 Td ( ) Tj ET Q q 0 0 0 rg BT 298.18 286.80 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.41 286.80 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.41 286.80 Td ( ) Tj ET Q q 0 0 0 rg BT 324.41 286.80 Td (and ) Tj ET Q q 0 0 0 rg BT 337.96 286.80 Td (negative ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.05 286.80 Td (68.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 387.72 286.80 Td ( ) Tj ET Q q 0 0 0 rg BT 389.72 286.80 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.94 286.80 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.94 286.80 Td (. ) Tj ET Q endstream endobj 65 0 obj <>] /Rotate 0 /Contents 66 0 R>> endobj 66 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (30) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 723.60 Td (Other) Tj ET Q q 0 0 0 rg BT 69.79 723.60 Td ( ) Tj ET Q q 0 0 0 rg BT 71.79 723.60 Td (income ) Tj ET Q q 0 0 0 rg BT 98.23 723.60 Td (/ ) Tj ET Q q 0 0 0 rg BT 102.45 723.60 Td (\(expense\) ) Tj ET Q q 0 0 0 rg BT 136.45 723.60 Td (items ) Tj ET Q q 0 0 0 rg BT 156.66 723.60 Td (for) Tj ET Q q 0 0 0 rg BT 166.73 723.60 Td ( ) Tj ET Q q 0 0 0 rg BT 168.73 723.60 Td (the ) Tj ET Q q 0 0 0 rg BT 181.39 723.60 Td (years ) Tj ET Q q 0 0 0 rg BT 201.61 723.60 Td (ending ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 226.73 723.60 Td (December) Tj ET Q q 0 0 0 rg BT 261.23 723.60 Td (31, ) Tj ET Q q 0 0 0 rg BT 275.23 723.60 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 291.23 723.60 Td (, ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 295.23 723.60 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 311.23 723.60 Td ( ) Tj ET Q q 0 0 0 rg BT 313.23 723.60 Td (and ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 328.13 723.60 Td (2012) Tj ET Q BT /F2 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 662.10 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 662.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.00 662.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 662.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.00 662.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 662.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 662.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 662.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 662.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 662.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 662.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 662.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 632.10 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 632.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.00 632.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 632.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.00 632.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 632.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 632.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 632.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 632.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 632.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 632.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 632.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 602.10 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 602.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.00 602.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 602.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.00 602.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 602.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 602.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 602.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 602.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 602.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 602.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 602.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 572.10 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 572.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.00 572.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 572.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.00 572.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 572.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 572.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 572.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 572.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 572.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 572.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 572.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 542.10 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 542.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.00 542.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 542.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.00 542.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 542.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 542.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 542.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 542.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 542.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 542.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 542.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 512.10 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 512.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.00 512.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 512.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.00 512.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 512.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 512.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 512.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 512.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 512.10 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 512.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 512.10 52.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 224 692.1 m 276 692.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 276 692.1 m 280 692.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 280 692.1 m 332 692.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 332 692.1 m 336 692.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 336 692.1 m 388 692.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388 692.1 m 392 692.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 392 692.1 m 444 692.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 444 692.1 m 448 692.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 448 692.1 m 500 692.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 500 692.1 m 504 692.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 504 692.1 m 556 692.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 224 677.1 m 276 677.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 276 677.1 m 280 677.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 280 677.1 m 332 677.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 332 677.1 m 336 677.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 336 677.1 m 388 677.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388 677.1 m 392 677.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 392 677.1 m 444 677.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 444 677.1 m 448 677.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 448 677.1 m 500 677.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 500 677.1 m 504 677.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 504 677.1 m 556 677.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 224 662.1 m 276 662.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 280 662.1 m 332 662.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 336 662.1 m 388 662.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 392 677.1 m 444 677.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 392 662.1 m 444 662.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 448 677.1 m 500 677.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 448 662.1 m 500 662.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 504 677.1 m 556 677.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 504 662.1 m 556 662.1 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 696.35 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 345.65 696.33 Td (Other Income / \(Expense\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 681.35 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 308.80 681.33 Td (For The Year Ending December 31, \(US$ 000's\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 666.35 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 256.50 666.33 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.50 666.33 Td (2013) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 365.00 666.33 Td (% Act) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 424.50 666.33 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 480.50 666.33 Td (2012) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 533.00 666.33 Td (% Act) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 651.35 Td (Interest ) Tj ET Q q 0 0 0 rg BT 78.49 651.35 Td (income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.50 651.35 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.80 651.35 Td (294) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 282.50 651.35 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 316.80 651.35 Td (496) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 361.45 651.35 Td (\(40.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 378.15 651.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.50 651.35 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.80 651.35 Td (496) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.50 651.35 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 651.35 Td (726) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 529.45 651.35 Td (\(31.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 546.15 651.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 636.35 Td (Interest ) Tj ET Q q 0 0 0 rg BT 78.49 636.35 Td (expense) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 244.10 636.35 Td (\(142,005) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 272.80 636.35 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 300.10 636.35 Td (\(111,709) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.80 636.35 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 361.45 636.35 Td (\(27.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 378.15 636.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.10 636.35 Td (\(111,709) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.80 636.35 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.10 636.35 Td (\(127,654) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 636.35 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 532.15 636.35 Td (12.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 548.80 636.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 621.35 Td (Loss ) Tj ET Q q 0 0 0 rg BT 69.61 621.35 Td (on ) Tj ET Q q 0 0 0 rg BT 79.61 621.35 Td (extinguishment ) Tj ET Q q 0 0 0 rg BT 130.94 621.35 Td (of ) Tj ET Q q 0 0 0 rg BT 139.61 621.35 Td (debt) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 248.10 621.35 Td (\(39,203) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 272.80 621.35 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 304.10 621.35 Td (\(23,115) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.80 621.35 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 361.45 621.35 Td (\(69.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 378.15 621.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.10 621.35 Td (\(23,115) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.80 621.35 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.10 621.35 Td (\(198) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 621.35 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 532.40 621.35 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 546.40 624.97 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 606.35 Td (Foreign ) Tj ET Q q 0 0 0 rg BT 79.39 606.35 Td (currency ) Tj ET Q q 0 0 0 rg BT 109.37 606.35 Td (exchange ) Tj ET Q q 0 0 0 rg BT 141.57 606.35 Td (\(loss\) ) Tj ET Q q 0 0 0 rg BT 161.35 606.35 Td (/ ) Tj ET Q q 0 0 0 rg BT 165.57 606.35 Td (gain, ) Tj ET Q q 0 0 0 rg BT 183.34 606.35 Td (net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 248.10 606.35 Td (\(12,767) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 272.80 606.35 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.75 606.35 Td (20,187) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 364.40 606.35 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 378.40 609.97 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.75 606.35 Td (20,187) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.80 606.35 Td (6,386) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 532.40 606.35 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 546.40 609.97 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 591.35 Td (Change ) Tj ET Q q 0 0 0 rg BT 78.94 591.35 Td (in ) Tj ET Q q 0 0 0 rg BT 87.16 591.35 Td (fair ) Tj ET Q q 0 0 0 rg BT 100.26 591.35 Td (value ) Tj ET Q q 0 0 0 rg BT 119.59 591.35 Td (of ) Tj ET Q q 0 0 0 rg BT 128.25 591.35 Td (derivatives) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 254.80 591.35 Td (2,311) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 316.80 591.35 Td (104) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 364.40 591.35 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 378.40 594.97 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.80 591.35 Td (104) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.75 591.35 Td (49,027) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 529.45 591.35 Td (\(99.8) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 546.15 591.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 576.35 Td (Other ) Tj ET Q q 0 0 0 rg BT 72.71 576.35 Td (income ) Tj ET Q q 0 0 0 rg BT 98.26 576.35 Td (/ ) Tj ET Q q 0 0 0 rg BT 102.48 576.35 Td (\(expense\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.80 576.35 Td (267) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.10 576.35 Td (\(373) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.80 576.35 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 364.40 576.35 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 378.40 579.97 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.10 576.35 Td (\(373) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.80 576.35 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.80 576.35 Td (1,043) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 533.10 576.35 Td (NM) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 545.10 579.97 Td ( \(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 561.35 Td (Credit ) Tj ET Q q 0 0 0 rg BT 74.50 561.35 Td (for ) Tj ET Q q 0 0 0 rg BT 85.82 561.35 Td (income ) Tj ET Q q 0 0 0 rg BT 111.37 561.35 Td (taxes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 254.80 561.35 Td (1,358) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.75 561.35 Td (17,993) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 361.45 561.35 Td (\(92.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 378.15 561.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.75 561.35 Td (17,993) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.75 561.35 Td (14,751) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 532.15 561.35 Td (22.0) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 548.80 561.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 546.35 Td (Loss ) Tj ET Q q 0 0 0 rg BT 69.61 546.35 Td (from ) Tj ET Q q 0 0 0 rg BT 87.16 546.35 Td (discontinued ) Tj ET Q q 0 0 0 rg BT 130.05 546.35 Td (operations, ) Tj ET Q q 0 0 0 rg BT 167.37 546.35 Td (net ) Tj ET Q q 0 0 0 rg BT 179.14 546.35 Td (of ) Tj ET Q q 0 0 0 rg BT 187.81 546.35 Td (tax) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 248.10 546.35 Td (\(80,431) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 272.80 546.35 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 308.10 546.35 Td (\(5,099) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.80 546.35 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 364.40 546.35 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 378.40 549.97 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.10 546.35 Td (\(5,099) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.80 546.35 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.10 546.35 Td (\(10,685) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 546.35 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 532.15 546.35 Td (52.3) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 548.80 546.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 531.35 Td (Net ) Tj ET Q q 0 0 0 rg BT 66.05 531.35 Td (loss ) Tj ET Q q 0 0 0 rg BT 80.50 531.35 Td (attributable ) Tj ET Q q 0 0 0 rg BT 118.93 531.35 Td (to ) Tj ET Q q 0 0 0 rg BT 127.15 531.35 Td (noncontrolling ) Tj ET Q q 0 0 0 rg BT 176.26 531.35 Td (interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 254.80 531.35 Td (4,468) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 310.80 531.35 Td (3,882) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 364.15 531.35 Td (15.1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 380.75 531.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.80 531.35 Td (3,882) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.75 531.35 Td (10,713) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 529.45 531.35 Td (\(63.8) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 546.15 531.35 Td (\)%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 516.33 Td (Other) Tj ET Q q 0 0 0 rg BT 72.79 516.33 Td ( ) Tj ET Q q 0 0 0 rg BT 74.79 516.33 Td (compr) Tj ET Q q 0 0 0 rg BT 96.86 516.33 Td (ehensive ) Tj ET Q q 0 0 0 rg BT 127.75 516.33 Td (\(loss\) ) Tj ET Q q 0 0 0 rg BT 147.53 516.33 Td (/ ) Tj ET Q q 0 0 0 rg BT 151.75 516.33 Td (income:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 501.35 Td (Currency translation adjustment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 244.10 501.35 Td (\(156,236) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 272.80 501.35 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 304.10 501.35 Td (\(58,200) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.80 501.35 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 357.45 501.35 Td (\(168.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 378.15 501.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.10 501.35 Td (\(58,200) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.80 501.35 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.75 501.35 Td (28,651) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 532.40 501.35 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 546.40 504.97 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 486.35 Td (Unrealized loss on derivative instruments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 258.10 486.35 Td (\(581) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 272.80 486.35 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 320.80 486.35 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 364.40 486.35 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 378.40 489.97 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.80 486.35 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.80 486.35 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 532.40 486.35 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 546.40 489.97 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 467.00 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 67.50 467.00 Td (Number ) Tj ET Q q 0 0 0 rg BT 95.71 467.00 Td (is ) Tj ET Q q 0 0 0 rg BT 103.05 467.00 Td (not ) Tj ET Q q 0 0 0 rg BT 115.27 467.00 Td (meaningful.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 451.40 Td (Inter) Tj ET Q q 0 0 0 rg BT 66.68 451.40 Td (est ) Tj ET Q q 0 0 0 rg BT 77.94 451.40 Td (income:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 105.04 451.40 Td ( ) Tj ET Q q 0 0 0 rg BT 106.84 451.40 Td (W) Tj ET Q q 0 0 0 rg BT 113.75 451.40 Td (e ) Tj ET Q q 0 0 0 rg BT 119.23 451.40 Td (recognized ) Tj ET Q q 0 0 0 rg BT 156.25 451.40 Td (interest ) Tj ET Q q 0 0 0 rg BT 181.73 451.40 Td (income ) Tj ET Q q 0 0 0 rg BT 207.21 451.40 Td (of ) Tj ET Q q 0 0 0 rg BT 215.80 451.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.96 451.40 Td (0.3 ) Tj ET Q q 0 0 0 rg BT 243.89 451.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.01 451.40 Td (, ) Tj ET Q q 0 0 0 rg BT 270.94 451.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 287.10 451.40 Td (0.5 ) Tj ET Q q 0 0 0 rg BT 299.03 451.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.14 451.40 Td ( ) Tj ET Q q 0 0 0 rg BT 324.07 451.40 Td (and ) Tj ET Q q 0 0 0 rg BT 337.56 451.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.71 451.40 Td (0.7 ) Tj ET Q q 0 0 0 rg BT 365.65 451.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.76 451.40 Td ( ) Tj ET Q q 0 0 0 rg BT 390.69 451.40 Td (for ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.95 451.40 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.95 451.40 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.88 451.40 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.88 451.40 Td ( ) Tj ET Q q 0 0 0 rg BT 439.81 451.40 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.30 451.40 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.30 451.40 Td (, ) Tj ET Q q 0 0 0 rg BT 473.23 451.40 Td (respectively) Tj ET Q q 0 0 0 rg BT 511.36 451.40 Td (. ) Tj ET Q q 0 0 0 rg BT 515.15 451.40 Td (The ) Tj ET Q q 0 0 0 rg BT 529.52 451.40 Td (year) Tj ET Q q 0 0 0 rg BT 543.12 451.40 Td (-over) Tj ET Q q 0 0 0 rg BT 559.84 451.40 Td (-) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 441.80 Td (year ) Tj ET Q q 0 0 0 rg BT 65.27 441.80 Td (declines ) Tj ET Q q 0 0 0 rg BT 93.48 441.80 Td (were ) Tj ET Q q 0 0 0 rg BT 111.02 441.80 Td (primarily ) Tj ET Q q 0 0 0 rg BT 142.79 441.80 Td (the ) Tj ET Q q 0 0 0 rg BT 154.56 441.80 Td (result ) Tj ET Q q 0 0 0 rg BT 174.34 441.80 Td (of ) Tj ET Q q 0 0 0 rg BT 183.00 441.80 Td (lower ) Tj ET Q q 0 0 0 rg BT 203.21 441.80 Td (average ) Tj ET Q q 0 0 0 rg BT 230.08 441.80 Td (cash ) Tj ET Q q 0 0 0 rg BT 246.30 441.80 Td (balances.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 426.20 Td (Inter) Tj ET Q q 0 0 0 rg BT 66.68 426.20 Td (est ) Tj ET Q q 0 0 0 rg BT 78.55 426.20 Td (expense:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 107.88 426.20 Td ( ) Tj ET Q q 0 0 0 rg BT 110.41 426.20 Td (Interest ) Tj ET Q q 0 0 0 rg BT 136.93 426.20 Td (expense ) Tj ET Q q 0 0 0 rg BT 165.23 426.20 Td (for ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 177.10 426.20 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 193.10 426.20 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 197.63 426.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 213.63 426.20 Td ( ) Tj ET Q q 0 0 0 rg BT 216.17 426.20 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 230.25 426.20 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 246.25 426.20 Td ( ) Tj ET Q q 0 0 0 rg BT 248.79 426.20 Td (was ) Tj ET Q q 0 0 0 rg BT 263.77 426.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.53 426.20 Td (142.0 ) Tj ET Q q 0 0 0 rg BT 301.06 426.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 324.18 426.20 Td (, ) Tj ET Q q 0 0 0 rg BT 328.71 426.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 345.47 426.20 Td (1) Tj ET Q q 0 0 0 rg BT 349.18 426.20 Td (1) Tj ET Q q 0 0 0 rg BT 352.88 426.20 Td (1.7 ) Tj ET Q q 0 0 0 rg BT 365.41 426.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.53 426.20 Td ( ) Tj ET Q q 0 0 0 rg BT 391.06 426.20 Td (and ) Tj ET Q q 0 0 0 rg BT 405.15 426.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.91 426.20 Td (127.7 ) Tj ET Q q 0 0 0 rg BT 442.45 426.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.56 426.20 Td (, ) Tj ET Q q 0 0 0 rg BT 470.09 426.20 Td (respectively) Tj ET Q q 0 0 0 rg BT 508.22 426.20 Td (. ) Tj ET Q q 0 0 0 rg BT 512.57 426.20 Td (The ) Tj ET Q q 0 0 0 rg BT 527.55 426.20 Td (increase ) Tj ET Q q 0 0 0 rg BT 556.29 426.20 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 416.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 75.09 416.60 Td (expense ) Tj ET Q q 0 0 0 rg BT 102.91 416.60 Td (in ) Tj ET Q q 0 0 0 rg BT 111.18 416.60 Td (2014 ) Tj ET Q q 0 0 0 rg BT 129.23 416.60 Td (was ) Tj ET Q q 0 0 0 rg BT 143.72 416.60 Td (primarily ) Tj ET Q q 0 0 0 rg BT 175.53 416.60 Td (due ) Tj ET Q q 0 0 0 rg BT 189.13 416.60 Td (to ) Tj ET Q q 0 0 0 rg BT 197.40 416.60 Td (the ) Tj ET Q q 0 0 0 rg BT 209.22 416.60 Td (refinancing ) Tj ET Q q 0 0 0 rg BT 247.70 416.60 Td (of ) Tj ET Q q 0 0 0 rg BT 256.41 416.60 Td (the ) Tj ET Q q 0 0 0 rg BT 268.23 416.60 Td (2016 ) Tj ET Q q 0 0 0 rg BT 286.28 416.60 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 306.55 416.60 Td (Rate ) Tj ET Q q 0 0 0 rg BT 323.26 416.60 Td (Notes ) Tj ET Q q 0 0 0 rg BT 343.97 416.60 Td (with ) Tj ET Q q 0 0 0 rg BT 360.24 416.60 Td (the ) Tj ET Q q 0 0 0 rg BT 372.06 416.60 Td (2017 ) Tj ET Q q 0 0 0 rg BT 390.11 416.60 Td (PIK ) Tj ET Q q 0 0 0 rg BT 405.05 416.60 Td (Notes ) Tj ET Q q 0 0 0 rg BT 425.76 416.60 Td (and ) Tj ET Q q 0 0 0 rg BT 439.36 416.60 Td (2017 ) Tj ET Q q 0 0 0 rg BT 457.26 416.60 Td (T) Tj ET Q q 0 0 0 rg BT 461.59 416.60 Td (erm ) Tj ET Q q 0 0 0 rg BT 476.07 416.60 Td (Loan, ) Tj ET Q q 0 0 0 rg BT 496.56 416.60 Td (both ) Tj ET Q q 0 0 0 rg BT 512.83 416.60 Td (of ) Tj ET Q q 0 0 0 rg BT 521.54 416.60 Td (which ) Tj ET Q q 0 0 0 rg BT 543.14 416.60 Td (bear ) Tj ET Q q 0 0 0 rg BT 558.95 416.60 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 407.00 Td (higher ) Tj ET Q q 0 0 0 rg BT 72.25 407.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 98.11 407.00 Td (rate ) Tj ET Q q 0 0 0 rg BT 112.41 407.00 Td (per ) Tj ET Q q 0 0 0 rg BT 124.93 407.00 Td (annum. ) Tj ET Q q 0 0 0 rg BT 150.85 407.00 Td (The ) Tj ET Q q 0 0 0 rg BT 165.60 407.00 Td (increase ) Tj ET Q q 0 0 0 rg BT 194.12 407.00 Td (was ) Tj ET Q q 0 0 0 rg BT 208.87 407.00 Td (also ) Tj ET Q q 0 0 0 rg BT 224.07 407.00 Td (due ) Tj ET Q q 0 0 0 rg BT 237.93 407.00 Td (to ) Tj ET Q q 0 0 0 rg BT 246.46 407.00 Td (the ) Tj ET Q q 0 0 0 rg BT 258.55 407.00 Td (amortization ) Tj ET Q q 0 0 0 rg BT 301.29 407.00 Td (of ) Tj ET Q q 0 0 0 rg BT 310.26 407.00 Td (debt ) Tj ET Q q 0 0 0 rg BT 326.35 407.00 Td (issuance ) Tj ET Q q 0 0 0 rg BT 355.76 407.00 Td (costs ) Tj ET Q q 0 0 0 rg BT 374.07 407.00 Td (and ) Tj ET Q q 0 0 0 rg BT 387.94 407.00 Td (discount ) Tj ET Q q 0 0 0 rg BT 417.36 407.00 Td (on ) Tj ET Q q 0 0 0 rg BT 427.67 407.00 Td (issuance ) Tj ET Q q 0 0 0 rg BT 457.08 407.00 Td (of ) Tj ET Q q 0 0 0 rg BT 466.06 407.00 Td (the ) Tj ET Q q 0 0 0 rg BT 478.14 407.00 Td (2017 ) Tj ET Q q 0 0 0 rg BT 496.45 407.00 Td (PIK ) Tj ET Q q 0 0 0 rg BT 511.66 407.00 Td (Notes ) Tj ET Q q 0 0 0 rg BT 532.63 407.00 Td (and ) Tj ET Q q 0 0 0 rg BT 546.49 407.00 Td (2017 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 397.40 Td (T) Tj ET Q q 0 0 0 rg BT 53.83 397.40 Td (erm ) Tj ET Q q 0 0 0 rg BT 68.34 397.40 Td (Loan ) Tj ET Q q 0 0 0 rg BT 86.86 397.40 Td (\(see ) Tj ET Q q 0 0 0 rg BT 101.82 397.40 Td (Item ) Tj ET Q q 0 0 0 rg BT 118.55 397.40 Td (8,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 126.55 397.40 Td (Note ) Tj ET Q q 0 0 0 rg BT 144.18 397.40 Td (16, ) Tj ET Q q 0 0 0 rg BT 156.26 397.40 Td ("Interest ) Tj ET Q q 0 0 0 rg BT 185.59 397.40 Td (Expense") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 215.96 397.40 Td (\). ) Tj ET Q q 0 0 0 rg BT 222.55 397.40 Td (The ) Tj ET Q q 0 0 0 rg BT 237.07 397.40 Td (decrease ) Tj ET Q q 0 0 0 rg BT 266.68 397.40 Td (in ) Tj ET Q q 0 0 0 rg BT 274.98 397.40 Td (2013 ) Tj ET Q q 0 0 0 rg BT 293.06 397.40 Td (compared ) Tj ET Q q 0 0 0 rg BT 326.67 397.40 Td (to ) Tj ET Q q 0 0 0 rg BT 334.97 397.40 Td (2012 ) Tj ET Q q 0 0 0 rg BT 353.05 397.40 Td (was ) Tj ET Q q 0 0 0 rg BT 367.57 397.40 Td (lar) Tj ET Q q 0 0 0 rg BT 375.87 397.40 Td (gely ) Tj ET Q q 0 0 0 rg BT 391.72 397.40 Td (due ) Tj ET Q q 0 0 0 rg BT 405.35 397.40 Td (to ) Tj ET Q q 0 0 0 rg BT 413.65 397.40 Td (the ) Tj ET Q q 0 0 0 rg BT 425.50 397.40 Td (repurchases ) Tj ET Q q 0 0 0 rg BT 465.33 397.40 Td (of ) Tj ET Q q 0 0 0 rg BT 474.08 397.40 Td (the ) Tj ET Q q 0 0 0 rg BT 485.93 397.40 Td (2013 ) Tj ET Q q 0 0 0 rg BT 504.01 397.40 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 543.85 397.40 Td (Notes ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 387.80 Td (and ) Tj ET Q q 0 0 0 rg BT 63.46 387.80 Td (2014 ) Tj ET Q q 0 0 0 rg BT 81.87 387.80 Td (Floating ) Tj ET Q q 0 0 0 rg BT 110.95 387.80 Td (Rate ) Tj ET Q q 0 0 0 rg BT 128.02 387.80 Td (Notes ) Tj ET Q q 0 0 0 rg BT 149.09 387.80 Td (in ) Tj ET Q q 0 0 0 rg BT 157.72 387.80 Td (2012 ) Tj ET Q q 0 0 0 rg BT 176.13 387.80 Td (and ) Tj ET Q q 0 0 0 rg BT 190.09 387.80 Td (the ) Tj ET Q q 0 0 0 rg BT 202.27 387.80 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 239.33 387.80 Td (of ) Tj ET Q q 0 0 0 rg BT 248.40 387.80 Td (a ) Tj ET Q q 0 0 0 rg BT 254.36 387.80 Td (portion ) Tj ET Q q 0 0 0 rg BT 279.88 387.80 Td (of ) Tj ET Q q 0 0 0 rg BT 288.95 387.80 Td (the ) Tj ET Q q 0 0 0 rg BT 301.13 387.80 Td (2016 ) Tj ET Q q 0 0 0 rg BT 319.54 387.80 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 340.17 387.80 Td (Rate ) Tj ET Q q 0 0 0 rg BT 357.24 387.80 Td (Notes ) Tj ET Q q 0 0 0 rg BT 378.32 387.80 Td (in ) Tj ET Q q 0 0 0 rg BT 386.95 387.80 Td (2013 ) Tj ET Q q 0 0 0 rg BT 405.36 387.80 Td (\(see ) Tj ET Q q 0 0 0 rg BT 420.65 387.80 Td (Item ) Tj ET Q q 0 0 0 rg BT 437.72 387.80 Td (8, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.13 387.80 Td (Note ) Tj ET Q q 0 0 0 rg BT 464.08 387.80 Td (5, ) Tj ET Q q 0 0 0 rg BT 472.49 387.80 Td ("Long-term ) Tj ET Q q 0 0 0 rg BT 512.38 387.80 Td (Debt ) Tj ET Q q 0 0 0 rg BT 530.34 387.80 Td (and ) Tj ET Q q 0 0 0 rg BT 544.30 387.80 Td (Other ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 378.20 Td (Financing ) Tj ET Q q 0 0 0 rg BT 83.05 378.20 Td (Arrangements") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 131.64 378.20 Td ( ) Tj ET Q q 0 0 0 rg BT 133.64 378.20 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 147.19 378.20 Td (Note ) Tj ET Q q 0 0 0 rg BT 164.74 378.20 Td (16, ) Tj ET Q q 0 0 0 rg BT 176.74 378.20 Td ("Interest ) Tj ET Q q 0 0 0 rg BT 205.99 378.20 Td (Expense") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 236.36 378.20 Td (\).) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 362.60 Td (Loss ) Tj ET Q q 0 0 0 rg BT 67.21 362.60 Td (on ) Tj ET Q q 0 0 0 rg BT 77.81 362.60 Td (extinguishment ) Tj ET Q q 0 0 0 rg BT 132.41 362.60 Td (of ) Tj ET Q q 0 0 0 rg BT 141.22 362.60 Td (debt: ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 161.14 362.60 Td (During ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 185.96 362.60 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 201.96 362.60 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 206.11 362.60 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 222.11 362.60 Td ( ) Tj ET Q q 0 0 0 rg BT 224.25 362.60 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 237.95 362.60 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.95 362.60 Td (, ) Tj ET Q q 0 0 0 rg BT 258.10 362.60 Td (we ) Tj ET Q q 0 0 0 rg BT 269.58 362.60 Td (recognized ) Tj ET Q q 0 0 0 rg BT 306.82 362.60 Td (net ) Tj ET Q q 0 0 0 rg BT 318.74 362.60 Td (losses ) Tj ET Q q 0 0 0 rg BT 340.00 362.60 Td (on ) Tj ET Q q 0 0 0 rg BT 350.15 362.60 Td (the ) Tj ET Q q 0 0 0 rg BT 362.07 362.60 Td (extinguishment ) Tj ET Q q 0 0 0 rg BT 413.55 362.60 Td (of ) Tj ET Q q 0 0 0 rg BT 422.36 362.60 Td (debt ) Tj ET Q q 0 0 0 rg BT 438.28 362.60 Td (of ) Tj ET Q q 0 0 0 rg BT 447.09 362.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.47 362.60 Td (39.2 ) Tj ET Q q 0 0 0 rg BT 479.62 362.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.73 362.60 Td (, ) Tj ET Q q 0 0 0 rg BT 506.88 362.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.25 362.60 Td (23.1 ) Tj ET Q q 0 0 0 rg BT 539.40 362.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 562.52 362.60 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 353.00 Td (and ) Tj ET Q q 0 0 0 rg BT 63.21 353.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 79.60 353.00 Td (0.2 ) Tj ET Q q 0 0 0 rg BT 91.77 353.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 114.88 353.00 Td (, ) Tj ET Q q 0 0 0 rg BT 119.04 353.00 Td (respectively) Tj ET Q q 0 0 0 rg BT 157.17 353.00 Td (. ) Tj ET Q q 0 0 0 rg BT 161.33 353.00 Td (In ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 170.16 353.00 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 186.16 353.00 Td (, ) Tj ET Q q 0 0 0 rg BT 190.33 353.00 Td (we ) Tj ET Q q 0 0 0 rg BT 201.82 353.00 Td (recognized ) Tj ET Q q 0 0 0 rg BT 239.07 353.00 Td (losses ) Tj ET Q q 0 0 0 rg BT 260.35 353.00 Td (on ) Tj ET Q q 0 0 0 rg BT 270.51 353.00 Td (each ) Tj ET Q q 0 0 0 rg BT 287.32 353.00 Td (of ) Tj ET Q q 0 0 0 rg BT 296.15 353.00 Td (the ) Tj ET Q q 0 0 0 rg BT 308.09 353.00 Td (redemption ) Tj ET Q q 0 0 0 rg BT 346.68 353.00 Td (of ) Tj ET Q q 0 0 0 rg BT 355.51 353.00 Td (the ) Tj ET Q q 0 0 0 rg BT 367.45 353.00 Td (remaining ) Tj ET Q q 0 0 0 rg BT 402.04 353.00 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 441.54 353.00 Td (portion ) Tj ET Q q 0 0 0 rg BT 466.81 353.00 Td (of ) Tj ET Q q 0 0 0 rg BT 475.64 353.00 Td (our ) Tj ET Q q 0 0 0 rg BT 488.47 353.00 Td (2016 ) Tj ET Q q 0 0 0 rg BT 506.63 353.00 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 527.02 353.00 Td (Rate ) Tj ET Q q 0 0 0 rg BT 543.84 353.00 Td (Notes ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 343.40 Td (and ) Tj ET Q q 0 0 0 rg BT 62.47 343.40 Td (the ) Tj ET Q q 0 0 0 rg BT 73.66 343.40 Td (redemption ) Tj ET Q q 0 0 0 rg BT 111.51 343.40 Td (of ) Tj ET Q q 0 0 0 rg BT 119.59 343.40 Td (the ) Tj ET Q q 0 0 0 rg BT 130.78 343.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 148.19 343.40 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 167.83 343.40 Td (Rate ) Tj ET Q q 0 0 0 rg BT 183.91 343.40 Td (Notes. ) Tj ET Q q 0 0 0 rg BT 205.99 343.40 Td (In ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 214.07 343.40 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 230.07 343.40 Td (, ) Tj ET Q q 0 0 0 rg BT 233.48 343.40 Td (we ) Tj ET Q q 0 0 0 rg BT 244.23 343.40 Td (recognized ) Tj ET Q q 0 0 0 rg BT 280.73 343.40 Td (a ) Tj ET Q q 0 0 0 rg BT 285.70 343.40 Td (loss ) Tj ET Q q 0 0 0 rg BT 299.56 343.40 Td (on ) Tj ET Q q 0 0 0 rg BT 308.98 343.40 Td (the ) Tj ET Q q 0 0 0 rg BT 320.17 343.40 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 356.23 343.40 Td (of ) Tj ET Q q 0 0 0 rg BT 364.31 343.40 Td (a ) Tj ET Q q 0 0 0 rg BT 369.28 343.40 Td (portion ) Tj ET Q q 0 0 0 rg BT 393.80 343.40 Td (of ) Tj ET Q q 0 0 0 rg BT 401.88 343.40 Td (our ) Tj ET Q q 0 0 0 rg BT 413.96 343.40 Td (2016 ) Tj ET Q q 0 0 0 rg BT 431.38 343.40 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 451.02 343.40 Td (Rate ) Tj ET Q q 0 0 0 rg BT 467.09 343.40 Td (Notes. ) Tj ET Q q 0 0 0 rg BT 489.17 343.40 Td (In ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.25 343.40 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 513.25 343.40 Td (, ) Tj ET Q q 0 0 0 rg BT 516.67 343.40 Td (we ) Tj ET Q q 0 0 0 rg BT 527.41 343.40 Td (recognized ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 333.80 Td (a ) Tj ET Q q 0 0 0 rg BT 55.05 333.80 Td (loss ) Tj ET Q q 0 0 0 rg BT 69.49 333.80 Td (on ) Tj ET Q q 0 0 0 rg BT 79.49 333.80 Td (the ) Tj ET Q q 0 0 0 rg BT 91.25 333.80 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 127.89 333.80 Td (of ) Tj ET Q q 0 0 0 rg BT 136.55 333.80 Td (a ) Tj ET Q q 0 0 0 rg BT 142.10 333.80 Td (portion ) Tj ET Q q 0 0 0 rg BT 167.20 333.80 Td (of ) Tj ET Q q 0 0 0 rg BT 175.86 333.80 Td (the ) Tj ET Q q 0 0 0 rg BT 187.63 333.80 Td (2013 ) Tj ET Q q 0 0 0 rg BT 205.63 333.80 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 245.39 333.80 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 268.05 333.80 Td (which ) Tj ET Q q 0 0 0 rg BT 289.60 333.80 Td (was ) Tj ET Q q 0 0 0 rg BT 304.03 333.80 Td (lar) Tj ET Q q 0 0 0 rg BT 312.33 333.80 Td (gely ) Tj ET Q q 0 0 0 rg BT 328.09 333.80 Td (of) Tj ET Q q 0 0 0 rg BT 334.61 333.80 Td (fset ) Tj ET Q q 0 0 0 rg BT 348.16 333.80 Td (by ) Tj ET Q q 0 0 0 rg BT 358.15 333.80 Td (a ) Tj ET Q q 0 0 0 rg BT 363.70 333.80 Td (gain ) Tj ET Q q 0 0 0 rg BT 379.47 333.80 Td (on ) Tj ET Q q 0 0 0 rg BT 389.46 333.80 Td (extinguishment ) Tj ET Q q 0 0 0 rg BT 440.79 333.80 Td (of ) Tj ET Q q 0 0 0 rg BT 449.45 333.80 Td (the ) Tj ET Q q 0 0 0 rg BT 461.21 333.80 Td (remaining ) Tj ET Q q 0 0 0 rg BT 495.64 333.80 Td (principal ) Tj ET Q q 0 0 0 rg BT 526.07 333.80 Td (of ) Tj ET Q q 0 0 0 rg BT 534.73 333.80 Td (the ) Tj ET Q q 0 0 0 rg BT 546.50 333.80 Td (2014 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 324.20 Td (Floating ) Tj ET Q q 0 0 0 rg BT 78.17 324.20 Td (Rate ) Tj ET Q q 0 0 0 rg BT 94.83 324.20 Td (Notes.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 308.60 Td (For) Tj ET Q q 0 0 0 rg BT 61.79 308.60 Td (eign ) Tj ET Q q 0 0 0 rg BT 78.60 308.60 Td (curr) Tj ET Q q 0 0 0 rg BT 93.56 308.60 Td (ency ) Tj ET Q q 0 0 0 rg BT 111.70 308.60 Td (exchange ) Tj ET Q q 0 0 0 rg BT 145.83 308.60 Td (\(loss\) ) Tj ET Q q 0 0 0 rg BT 166.20 308.60 Td (/ ) Tj ET Q q 0 0 0 rg BT 171.00 308.60 Td (gain, ) Tj ET Q q 0 0 0 rg BT 190.26 308.60 Td (net:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 203.59 308.60 Td () Tj ET Q q 0 0 0 rg BT 205.45 308.60 Td (W) Tj ET Q q 0 0 0 rg BT 212.36 308.60 Td (e ) Tj ET Q q 0 0 0 rg BT 218.49 308.60 Td (are ) Tj ET Q q 0 0 0 rg BT 230.84 308.60 Td (exposed ) Tj ET Q q 0 0 0 rg BT 259.64 308.60 Td (to ) Tj ET Q q 0 0 0 rg BT 268.45 308.60 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 308.81 308.60 Td (in ) Tj ET Q q 0 0 0 rg BT 317.62 308.60 Td (foreign ) Tj ET Q q 0 0 0 rg BT 343.30 308.60 Td (exchange ) Tj ET Q q 0 0 0 rg BT 376.09 308.60 Td (rates ) Tj ET Q q 0 0 0 rg BT 393.78 308.60 Td (on ) Tj ET Q q 0 0 0 rg BT 404.37 308.60 Td (the ) Tj ET Q q 0 0 0 rg BT 416.73 308.60 Td (revaluation ) Tj ET Q q 0 0 0 rg BT 455.30 308.60 Td (of ) Tj ET Q q 0 0 0 rg BT 464.55 308.60 Td (monetary ) Tj ET Q q 0 0 0 rg BT 497.34 308.60 Td (assets ) Tj ET Q q 0 0 0 rg BT 518.59 308.60 Td (and ) Tj ET Q q 0 0 0 rg BT 532.73 308.60 Td (liabilities ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 299.00 Td (denominated ) Tj ET Q q 0 0 0 rg BT 92.64 299.00 Td (in ) Tj ET Q q 0 0 0 rg BT 100.69 299.00 Td (currencies ) Tj ET Q q 0 0 0 rg BT 135.38 299.00 Td (other ) Tj ET Q q 0 0 0 rg BT 153.64 299.00 Td (than ) Tj ET Q q 0 0 0 rg BT 169.24 299.00 Td (the ) Tj ET Q q 0 0 0 rg BT 180.83 299.00 Td (local ) Tj ET Q q 0 0 0 rg BT 198.20 299.00 Td (functional ) Tj ET Q q 0 0 0 rg BT 232.46 299.00 Td (currency ) Tj ET Q q 0 0 0 rg BT 262.26 299.00 Td (of ) Tj ET Q q 0 0 0 rg BT 270.75 299.00 Td (the ) Tj ET Q q 0 0 0 rg BT 282.35 299.00 Td (relevant ) Tj ET Q q 0 0 0 rg BT 309.93 299.00 Td (subsidiary) Tj ET Q q 0 0 0 rg BT 342.30 299.00 Td (. ) Tj ET Q q 0 0 0 rg BT 345.99 299.00 Td (This ) Tj ET Q q 0 0 0 rg BT 362.04 299.00 Td (includes ) Tj ET Q q 0 0 0 rg BT 390.52 299.00 Td (third ) Tj ET Q q 0 0 0 rg BT 407.45 299.00 Td (party ) Tj ET Q q 0 0 0 rg BT 425.71 299.00 Td (receivables ) Tj ET Q q 0 0 0 rg BT 463.51 299.00 Td (and ) Tj ET Q q 0 0 0 rg BT 476.89 299.00 Td (payables, ) Tj ET Q q 0 0 0 rg BT 508.70 299.00 Td (including ) Tj ET Q q 0 0 0 rg BT 540.74 299.00 Td (certain ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 289.40 Td (of ) Tj ET Q q 0 0 0 rg BT 57.98 289.40 Td (our ) Tj ET Q q 0 0 0 rg BT 70.46 289.40 Td (Senior ) Tj ET Q q 0 0 0 rg BT 93.16 289.40 Td (Debt, ) Tj ET Q q 0 0 0 rg BT 112.52 289.40 Td (which ) Tj ET Q q 0 0 0 rg BT 133.89 289.40 Td (are ) Tj ET Q q 0 0 0 rg BT 145.47 289.40 Td (denominated ) Tj ET Q q 0 0 0 rg BT 188.60 289.40 Td (in ) Tj ET Q q 0 0 0 rg BT 196.64 289.40 Td (Euros, ) Tj ET Q q 0 0 0 rg BT 219.12 289.40 Td (as ) Tj ET Q q 0 0 0 rg BT 227.60 289.40 Td (well ) Tj ET Q q 0 0 0 rg BT 243.19 289.40 Td (as ) Tj ET Q q 0 0 0 rg BT 251.66 289.40 Td (certain ) Tj ET Q q 0 0 0 rg BT 275.24 289.40 Td (of ) Tj ET Q q 0 0 0 rg BT 283.72 289.40 Td (our ) Tj ET Q q 0 0 0 rg BT 296.20 289.40 Td (intercompany ) Tj ET Q q 0 0 0 rg BT 342.00 289.40 Td (loans ) Tj ET Q q 0 0 0 rg BT 360.70 289.40 Td (which ) Tj ET Q q 0 0 0 rg BT 382.06 289.40 Td (are ) Tj ET Q q 0 0 0 rg BT 393.64 289.40 Td (not ) Tj ET Q q 0 0 0 rg BT 405.68 289.40 Td (considered ) Tj ET Q q 0 0 0 rg BT 442.15 289.40 Td (of ) Tj ET Q q 0 0 0 rg BT 450.63 289.40 Td (a ) Tj ET Q q 0 0 0 rg BT 455.99 289.40 Td (long-term ) Tj ET Q q 0 0 0 rg BT 489.35 289.40 Td (investment ) Tj ET Q q 0 0 0 rg BT 526.27 289.40 Td (nature. ) Tj ET Q q 0 0 0 rg BT 550.07 289.40 Td (Our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 279.80 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 89.09 279.80 Td (generally ) Tj ET Q q 0 0 0 rg BT 120.66 279.80 Td (receive ) Tj ET Q q 0 0 0 rg BT 145.57 279.80 Td (funding ) Tj ET Q q 0 0 0 rg BT 172.27 279.80 Td (via ) Tj ET Q q 0 0 0 rg BT 183.86 279.80 Td (loans ) Tj ET Q q 0 0 0 rg BT 202.56 279.80 Td (that ) Tj ET Q q 0 0 0 rg BT 216.37 279.80 Td (are ) Tj ET Q q 0 0 0 rg BT 227.95 279.80 Td (denominated ) Tj ET Q q 0 0 0 rg BT 271.08 279.80 Td (in ) Tj ET Q q 0 0 0 rg BT 279.12 279.80 Td (currencies ) Tj ET Q q 0 0 0 rg BT 313.80 279.80 Td (other ) Tj ET Q q 0 0 0 rg BT 332.05 279.80 Td (than ) Tj ET Q q 0 0 0 rg BT 347.64 279.80 Td (the ) Tj ET Q q 0 0 0 rg BT 359.23 279.80 Td (dollar) Tj ET Q q 0 0 0 rg BT 377.57 279.80 Td (, ) Tj ET Q q 0 0 0 rg BT 381.38 279.80 Td (and ) Tj ET Q q 0 0 0 rg BT 394.75 279.80 Td (any ) Tj ET Q q 0 0 0 rg BT 408.12 279.80 Td (change ) Tj ET Q q 0 0 0 rg BT 432.58 279.80 Td (in ) Tj ET Q q 0 0 0 rg BT 440.62 279.80 Td (the ) Tj ET Q q 0 0 0 rg BT 452.21 279.80 Td (relevant ) Tj ET Q q 0 0 0 rg BT 479.78 279.80 Td (exchange ) Tj ET Q q 0 0 0 rg BT 511.80 279.80 Td (rate ) Tj ET Q q 0 0 0 rg BT 525.60 279.80 Td (will ) Tj ET Q q 0 0 0 rg BT 539.86 279.80 Td (require ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 270.20 Td (us ) Tj ET Q q 0 0 0 rg BT 58.29 270.20 Td (to ) Tj ET Q q 0 0 0 rg BT 66.20 270.20 Td (recognize ) Tj ET Q q 0 0 0 rg BT 98.97 270.20 Td (a ) Tj ET Q q 0 0 0 rg BT 104.20 270.20 Td (transaction ) Tj ET Q q 0 0 0 rg BT 140.98 270.20 Td (gain ) Tj ET Q q 0 0 0 rg BT 156.44 270.20 Td (or ) Tj ET Q q 0 0 0 rg BT 164.78 270.20 Td (loss ) Tj ET Q q 0 0 0 rg BT 178.91 270.20 Td (on ) Tj ET Q q 0 0 0 rg BT 188.60 270.20 Td (revaluation. ) Tj ET Q q 0 0 0 rg BT 228.14 270.20 Td (W) Tj ET Q q 0 0 0 rg BT 235.05 270.20 Td (e ) Tj ET Q q 0 0 0 rg BT 240.28 270.20 Td (classify ) Tj ET Q q 0 0 0 rg BT 266.40 270.20 Td (certain ) Tj ET Q q 0 0 0 rg BT 289.85 270.20 Td (of ) Tj ET Q q 0 0 0 rg BT 298.19 270.20 Td (our ) Tj ET Q q 0 0 0 rg BT 310.54 270.20 Td (intercompany ) Tj ET Q q 0 0 0 rg BT 356.20 270.20 Td (loans ) Tj ET Q q 0 0 0 rg BT 374.77 270.20 Td (as ) Tj ET Q q 0 0 0 rg BT 383.12 270.20 Td (long-term ) Tj ET Q q 0 0 0 rg BT 416.35 270.20 Td (in ) Tj ET Q q 0 0 0 rg BT 424.25 270.20 Td (nature, ) Tj ET Q q 0 0 0 rg BT 447.92 270.20 Td (and ) Tj ET Q q 0 0 0 rg BT 461.15 270.20 Td (therefore ) Tj ET Q q 0 0 0 rg BT 491.70 270.20 Td (no ) Tj ET Q q 0 0 0 rg BT 501.38 270.20 Td (longer ) Tj ET Q q 0 0 0 rg BT 523.50 270.20 Td (record ) Tj ET Q q 0 0 0 rg BT 545.61 270.20 Td (gains ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 260.60 Td (or ) Tj ET Q q 0 0 0 rg BT 58.16 260.60 Td (losses ) Tj ET Q q 0 0 0 rg BT 79.28 260.60 Td (on ) Tj ET Q q 0 0 0 rg BT 89.28 260.60 Td (revaluation ) Tj ET Q q 0 0 0 rg BT 127.26 260.60 Td (through ) Tj ET Q q 0 0 0 rg BT 154.15 260.60 Td (net ) Tj ET Q q 0 0 0 rg BT 165.92 260.60 Td (income ) Tj ET Q q 0 0 0 rg BT 191.47 260.60 Td (/ ) Tj ET Q q 0 0 0 rg BT 195.69 260.60 Td (loss. ) Tj ET Q q 0 0 0 rg BT 212.14 260.60 Td (See ) Tj ET Q q 0 0 0 rg BT 225.69 260.60 Td (discussion ) Tj ET Q q 0 0 0 rg BT 261.03 260.60 Td (under ) Tj ET Q q 0 0 0 rg BT 281.24 260.60 Td ("Currency ) Tj ET Q q 0 0 0 rg BT 316.27 260.60 Td (translation ) Tj ET Q q 0 0 0 rg BT 352.04 260.60 Td (adjustment, ) Tj ET Q q 0 0 0 rg BT 391.15 260.60 Td (net" ) Tj ET Q q 0 0 0 rg BT 406.19 260.60 Td (below) Tj ET Q q 0 0 0 rg BT 425.22 260.60 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 245.00 Td (In ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.81 245.00 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 74.81 245.00 Td (, ) Tj ET Q q 0 0 0 rg BT 79.46 245.00 Td (we ) Tj ET Q q 0 0 0 rg BT 91.44 245.00 Td (recognized ) Tj ET Q q 0 0 0 rg BT 129.18 245.00 Td (a ) Tj ET Q q 0 0 0 rg BT 135.38 245.00 Td (net ) Tj ET Q q 0 0 0 rg BT 147.80 245.00 Td (loss ) Tj ET Q q 0 0 0 rg BT 162.89 245.00 Td (of ) Tj ET Q q 0 0 0 rg BT 172.21 245.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 189.08 245.00 Td (12.8 ) Tj ET Q q 0 0 0 rg BT 205.73 245.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 228.84 245.00 Td (, ) Tj ET Q q 0 0 0 rg BT 233.49 245.00 Td (comprised ) Tj ET Q q 0 0 0 rg BT 269.46 245.00 Td (of ) Tj ET Q q 0 0 0 rg BT 278.78 245.00 Td (transaction ) Tj ET Q q 0 0 0 rg BT 316.52 245.00 Td (gains ) Tj ET Q q 0 0 0 rg BT 336.06 245.00 Td (of ) Tj ET Q q 0 0 0 rg BT 345.37 245.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.25 245.00 Td (1.3 ) Tj ET Q q 0 0 0 rg BT 374.89 245.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.01 245.00 Td ( ) Tj ET Q q 0 0 0 rg BT 400.66 245.00 Td (relating ) Tj ET Q q 0 0 0 rg BT 427.74 245.00 Td (to ) Tj ET Q q 0 0 0 rg BT 436.61 245.00 Td (the ) Tj ET Q q 0 0 0 rg BT 449.03 245.00 Td (revaluation ) Tj ET Q q 0 0 0 rg BT 487.66 245.00 Td (of ) Tj ET Q q 0 0 0 rg BT 496.98 245.00 Td (intercompany ) Tj ET Q q 0 0 0 rg BT 543.61 245.00 Td (loans, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 235.40 Td (transaction ) Tj ET Q q 0 0 0 rg BT 86.38 235.40 Td (gains ) Tj ET Q q 0 0 0 rg BT 105.06 235.40 Td (of ) Tj ET Q q 0 0 0 rg BT 113.51 235.40 Td (approximately ) Tj ET Q q 0 0 0 rg BT 161.50 235.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 177.52 235.40 Td (4.3 ) Tj ET Q q 0 0 0 rg BT 189.30 235.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 212.42 235.40 Td ( ) Tj ET Q q 0 0 0 rg BT 214.21 235.40 Td (from ) Tj ET Q q 0 0 0 rg BT 231.54 235.40 Td (the ) Tj ET Q q 0 0 0 rg BT 243.10 235.40 Td (revaluation ) Tj ET Q q 0 0 0 rg BT 280.88 235.40 Td (of ) Tj ET Q q 0 0 0 rg BT 289.33 235.40 Td (our ) Tj ET Q q 0 0 0 rg BT 301.78 235.40 Td (Senior ) Tj ET Q q 0 0 0 rg BT 324.45 235.40 Td (Debt ) Tj ET Q q 0 0 0 rg BT 341.79 235.40 Td (due ) Tj ET Q q 0 0 0 rg BT 355.13 235.40 Td (to ) Tj ET Q q 0 0 0 rg BT 363.14 235.40 Td (the ) Tj ET Q q 0 0 0 rg BT 374.70 235.40 Td (overall ) Tj ET Q q 0 0 0 rg BT 398.70 235.40 Td (strengthening ) Tj ET Q q 0 0 0 rg BT 444.03 235.40 Td (of ) Tj ET Q q 0 0 0 rg BT 452.48 235.40 Td (the ) Tj ET Q q 0 0 0 rg BT 464.04 235.40 Td (dollar ) Tj ET Q q 0 0 0 rg BT 484.49 235.40 Td (against ) Tj ET Q q 0 0 0 rg BT 508.94 235.40 Td (the ) Tj ET Q q 0 0 0 rg BT 520.50 235.40 Td (euro ) Tj ET Q q 0 0 0 rg BT 536.50 235.40 Td (in ) Tj ET Q q 0 0 0 rg BT 544.51 235.40 Td (2014, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 225.80 Td (and ) Tj ET Q q 0 0 0 rg BT 63.12 225.80 Td (transaction ) Tj ET Q q 0 0 0 rg BT 100.29 225.80 Td (losses ) Tj ET Q q 0 0 0 rg BT 121.47 225.80 Td (of ) Tj ET Q q 0 0 0 rg BT 130.20 225.80 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.50 225.80 Td (18.4 ) Tj ET Q q 0 0 0 rg BT 162.57 225.80 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 185.68 225.80 Td ( ) Tj ET Q q 0 0 0 rg BT 187.75 225.80 Td (relating ) Tj ET Q q 0 0 0 rg BT 214.25 225.80 Td (to ) Tj ET Q q 0 0 0 rg BT 222.55 225.80 Td (the ) Tj ET Q q 0 0 0 rg BT 234.39 225.80 Td (revaluation ) Tj ET Q q 0 0 0 rg BT 272.44 225.80 Td (of ) Tj ET Q q 0 0 0 rg BT 281.18 225.80 Td (monetary ) Tj ET Q q 0 0 0 rg BT 313.46 225.80 Td (assets ) Tj ET Q q 0 0 0 rg BT 334.19 225.80 Td (and ) Tj ET Q q 0 0 0 rg BT 347.81 225.80 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 379.65 225.80 Td (denominated ) Tj ET Q q 0 0 0 rg BT 423.04 225.80 Td (in ) Tj ET Q q 0 0 0 rg BT 431.33 225.80 Td (currencies ) Tj ET Q q 0 0 0 rg BT 466.27 225.80 Td (other ) Tj ET Q q 0 0 0 rg BT 484.78 225.80 Td (than ) Tj ET Q q 0 0 0 rg BT 500.62 225.80 Td (the ) Tj ET Q q 0 0 0 rg BT 512.46 225.80 Td (local ) Tj ET Q q 0 0 0 rg BT 530.08 225.80 Td (functional ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 216.20 Td (currency ) Tj ET Q q 0 0 0 rg BT 79.48 216.20 Td (of ) Tj ET Q q 0 0 0 rg BT 88.14 216.20 Td (the ) Tj ET Q q 0 0 0 rg BT 99.92 216.20 Td (relevant ) Tj ET Q q 0 0 0 rg BT 127.68 216.20 Td (subsidiary) Tj ET Q q 0 0 0 rg BT 160.05 216.20 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 200.60 Td (In ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.60 200.60 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 74.60 200.60 Td (, ) Tj ET Q q 0 0 0 rg BT 79.04 200.60 Td (we ) Tj ET Q q 0 0 0 rg BT 90.80 200.60 Td (recognized ) Tj ET Q q 0 0 0 rg BT 128.32 200.60 Td (a ) Tj ET Q q 0 0 0 rg BT 134.31 200.60 Td (net ) Tj ET Q q 0 0 0 rg BT 146.52 200.60 Td (gain ) Tj ET Q q 0 0 0 rg BT 162.73 200.60 Td (of ) Tj ET Q q 0 0 0 rg BT 171.83 200.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 188.49 200.60 Td (20.2 ) Tj ET Q q 0 0 0 rg BT 204.93 200.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 228.04 200.60 Td (, ) Tj ET Q q 0 0 0 rg BT 232.47 200.60 Td (comprised ) Tj ET Q q 0 0 0 rg BT 268.23 200.60 Td (of ) Tj ET Q q 0 0 0 rg BT 277.33 200.60 Td (transaction ) Tj ET Q q 0 0 0 rg BT 314.87 200.60 Td (gains ) Tj ET Q q 0 0 0 rg BT 334.19 200.60 Td (of ) Tj ET Q q 0 0 0 rg BT 343.29 200.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 359.95 200.60 Td (63.1 ) Tj ET Q q 0 0 0 rg BT 376.39 200.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.50 200.60 Td ( ) Tj ET Q q 0 0 0 rg BT 401.94 200.60 Td (relating ) Tj ET Q q 0 0 0 rg BT 428.80 200.60 Td (to ) Tj ET Q q 0 0 0 rg BT 437.46 200.60 Td (the ) Tj ET Q q 0 0 0 rg BT 449.67 200.60 Td (revaluation ) Tj ET Q q 0 0 0 rg BT 488.09 200.60 Td (of ) Tj ET Q q 0 0 0 rg BT 497.19 200.60 Td (intercompany ) Tj ET Q q 0 0 0 rg BT 543.61 200.60 Td (loans, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 191.00 Td (transaction ) Tj ET Q q 0 0 0 rg BT 86.47 191.00 Td (losses ) Tj ET Q q 0 0 0 rg BT 107.46 191.00 Td (of ) Tj ET Q q 0 0 0 rg BT 115.99 191.00 Td (approximately ) Tj ET Q q 0 0 0 rg BT 164.07 191.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 180.17 191.00 Td (42.3 ) Tj ET Q q 0 0 0 rg BT 196.04 191.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 219.15 191.00 Td ( ) Tj ET Q q 0 0 0 rg BT 221.03 191.00 Td (from ) Tj ET Q q 0 0 0 rg BT 238.45 191.00 Td (the ) Tj ET Q q 0 0 0 rg BT 250.09 191.00 Td (revaluation ) Tj ET Q q 0 0 0 rg BT 287.95 191.00 Td (of ) Tj ET Q q 0 0 0 rg BT 296.49 191.00 Td (the ) Tj ET Q q 0 0 0 rg BT 308.13 191.00 Td (Senior ) Tj ET Q q 0 0 0 rg BT 330.89 191.00 Td (Debt ) Tj ET Q q 0 0 0 rg BT 348.31 191.00 Td (due ) Tj ET Q q 0 0 0 rg BT 361.74 191.00 Td (to ) Tj ET Q q 0 0 0 rg BT 369.83 191.00 Td (the ) Tj ET Q q 0 0 0 rg BT 381.48 191.00 Td (overall ) Tj ET Q q 0 0 0 rg BT 405.56 191.00 Td (weakening ) Tj ET Q q 0 0 0 rg BT 442.08 191.00 Td (of ) Tj ET Q q 0 0 0 rg BT 450.62 191.00 Td (the ) Tj ET Q q 0 0 0 rg BT 462.27 191.00 Td (dollar ) Tj ET Q q 0 0 0 rg BT 482.80 191.00 Td (against ) Tj ET Q q 0 0 0 rg BT 507.33 191.00 Td (the ) Tj ET Q q 0 0 0 rg BT 518.98 191.00 Td (Euro ) Tj ET Q q 0 0 0 rg BT 536.40 191.00 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.49 191.00 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 560.49 191.00 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 181.40 Td (and ) Tj ET Q q 0 0 0 rg BT 63.29 181.40 Td (transaction ) Tj ET Q q 0 0 0 rg BT 100.63 181.40 Td (losses ) Tj ET Q q 0 0 0 rg BT 121.99 181.40 Td (of ) Tj ET Q q 0 0 0 rg BT 130.90 181.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 147.37 181.40 Td (0.6 ) Tj ET Q q 0 0 0 rg BT 159.61 181.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.72 181.40 Td ( ) Tj ET Q q 0 0 0 rg BT 184.97 181.40 Td (relating ) Tj ET Q q 0 0 0 rg BT 211.64 181.40 Td (to ) Tj ET Q q 0 0 0 rg BT 220.11 181.40 Td (the ) Tj ET Q q 0 0 0 rg BT 232.13 181.40 Td (revaluation ) Tj ET Q q 0 0 0 rg BT 270.35 181.40 Td (of ) Tj ET Q q 0 0 0 rg BT 279.26 181.40 Td (monetary ) Tj ET Q q 0 0 0 rg BT 311.72 181.40 Td (assets ) Tj ET Q q 0 0 0 rg BT 332.62 181.40 Td (and ) Tj ET Q q 0 0 0 rg BT 346.42 181.40 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 378.43 181.40 Td (denominated ) Tj ET Q q 0 0 0 rg BT 422.00 181.40 Td (in ) Tj ET Q q 0 0 0 rg BT 430.46 181.40 Td (currencies ) Tj ET Q q 0 0 0 rg BT 465.57 181.40 Td (other ) Tj ET Q q 0 0 0 rg BT 484.25 181.40 Td (than ) Tj ET Q q 0 0 0 rg BT 500.27 181.40 Td (the ) Tj ET Q q 0 0 0 rg BT 512.29 181.40 Td (local ) Tj ET Q q 0 0 0 rg BT 530.08 181.40 Td (functional ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 171.80 Td (currency ) Tj ET Q q 0 0 0 rg BT 79.48 171.80 Td (of ) Tj ET Q q 0 0 0 rg BT 88.14 171.80 Td (the ) Tj ET Q q 0 0 0 rg BT 99.92 171.80 Td (relevant ) Tj ET Q q 0 0 0 rg BT 127.68 171.80 Td (subsidiary) Tj ET Q q 0 0 0 rg BT 160.05 171.80 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 156.20 Td (In ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.88 156.20 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 74.88 156.20 Td (, ) Tj ET Q q 0 0 0 rg BT 79.61 156.20 Td (we ) Tj ET Q q 0 0 0 rg BT 91.65 156.20 Td (recognized ) Tj ET Q q 0 0 0 rg BT 129.46 156.20 Td (a ) Tj ET Q q 0 0 0 rg BT 135.74 156.20 Td (net ) Tj ET Q q 0 0 0 rg BT 148.23 156.20 Td (gain ) Tj ET Q q 0 0 0 rg BT 164.72 156.20 Td (of ) Tj ET Q q 0 0 0 rg BT 174.11 156.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 191.06 156.20 Td (6.4 ) Tj ET Q q 0 0 0 rg BT 203.78 156.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.89 156.20 Td (, ) Tj ET Q q 0 0 0 rg BT 231.61 156.20 Td (comprised ) Tj ET Q q 0 0 0 rg BT 267.66 156.20 Td (of ) Tj ET Q q 0 0 0 rg BT 277.04 156.20 Td (transaction ) Tj ET Q q 0 0 0 rg BT 314.86 156.20 Td (gain ) Tj ET Q q 0 0 0 rg BT 331.35 156.20 Td (of ) Tj ET Q q 0 0 0 rg BT 340.74 156.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.69 156.20 Td (17.3 ) Tj ET Q q 0 0 0 rg BT 374.41 156.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.52 156.20 Td ( ) Tj ET Q q 0 0 0 rg BT 400.24 156.20 Td (relating ) Tj ET Q q 0 0 0 rg BT 427.39 156.20 Td (to ) Tj ET Q q 0 0 0 rg BT 436.34 156.20 Td (the ) Tj ET Q q 0 0 0 rg BT 448.83 156.20 Td (revaluation ) Tj ET Q q 0 0 0 rg BT 487.54 156.20 Td (of ) Tj ET Q q 0 0 0 rg BT 496.92 156.20 Td (intercompany ) Tj ET Q q 0 0 0 rg BT 543.63 156.20 Td (loans, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 146.60 Td (transaction ) Tj ET Q q 0 0 0 rg BT 86.28 146.60 Td (losses ) Tj ET Q q 0 0 0 rg BT 107.08 146.60 Td (of ) Tj ET Q q 0 0 0 rg BT 115.43 146.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 163.32 146.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 179.23 146.60 Td (6.7 ) Tj ET Q q 0 0 0 rg BT 190.92 146.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 214.03 146.60 Td ( ) Tj ET Q q 0 0 0 rg BT 215.71 146.60 Td (from ) Tj ET Q q 0 0 0 rg BT 232.95 146.60 Td (the ) Tj ET Q q 0 0 0 rg BT 244.41 146.60 Td (revaluation ) Tj ET Q q 0 0 0 rg BT 282.08 146.60 Td (of ) Tj ET Q q 0 0 0 rg BT 290.42 146.60 Td (the ) Tj ET Q q 0 0 0 rg BT 301.88 146.60 Td (Senior ) Tj ET Q q 0 0 0 rg BT 324.45 146.60 Td (Debt ) Tj ET Q q 0 0 0 rg BT 341.69 146.60 Td (due ) Tj ET Q q 0 0 0 rg BT 354.92 146.60 Td (to ) Tj ET Q q 0 0 0 rg BT 362.83 146.60 Td (the ) Tj ET Q q 0 0 0 rg BT 374.29 146.60 Td (overall ) Tj ET Q q 0 0 0 rg BT 398.19 146.60 Td (strengthening ) Tj ET Q q 0 0 0 rg BT 443.42 146.60 Td (of ) Tj ET Q q 0 0 0 rg BT 451.77 146.60 Td (the ) Tj ET Q q 0 0 0 rg BT 463.22 146.60 Td (dollar ) Tj ET Q q 0 0 0 rg BT 483.57 146.60 Td (against ) Tj ET Q q 0 0 0 rg BT 507.91 146.60 Td (the ) Tj ET Q q 0 0 0 rg BT 519.37 146.60 Td (Euro ) Tj ET Q q 0 0 0 rg BT 536.61 146.60 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.51 146.60 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 560.51 146.60 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 137.00 Td (and ) Tj ET Q q 0 0 0 rg BT 63.29 137.00 Td (transaction ) Tj ET Q q 0 0 0 rg BT 100.63 137.00 Td (losses ) Tj ET Q q 0 0 0 rg BT 121.99 137.00 Td (of ) Tj ET Q q 0 0 0 rg BT 130.90 137.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 147.37 137.00 Td (4.2 ) Tj ET Q q 0 0 0 rg BT 159.61 137.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.72 137.00 Td ( ) Tj ET Q q 0 0 0 rg BT 184.97 137.00 Td (relating ) Tj ET Q q 0 0 0 rg BT 211.64 137.00 Td (to ) Tj ET Q q 0 0 0 rg BT 220.11 137.00 Td (the ) Tj ET Q q 0 0 0 rg BT 232.13 137.00 Td (revaluation ) Tj ET Q q 0 0 0 rg BT 270.35 137.00 Td (of ) Tj ET Q q 0 0 0 rg BT 279.26 137.00 Td (monetary ) Tj ET Q q 0 0 0 rg BT 311.72 137.00 Td (assets ) Tj ET Q q 0 0 0 rg BT 332.62 137.00 Td (and ) Tj ET Q q 0 0 0 rg BT 346.42 137.00 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 378.43 137.00 Td (denominated ) Tj ET Q q 0 0 0 rg BT 422.00 137.00 Td (in ) Tj ET Q q 0 0 0 rg BT 430.46 137.00 Td (currencies ) Tj ET Q q 0 0 0 rg BT 465.57 137.00 Td (other ) Tj ET Q q 0 0 0 rg BT 484.25 137.00 Td (than ) Tj ET Q q 0 0 0 rg BT 500.27 137.00 Td (the ) Tj ET Q q 0 0 0 rg BT 512.29 137.00 Td (local ) Tj ET Q q 0 0 0 rg BT 530.08 137.00 Td (functional ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 127.40 Td (currency ) Tj ET Q q 0 0 0 rg BT 79.48 127.40 Td (of ) Tj ET Q q 0 0 0 rg BT 88.14 127.40 Td (the ) Tj ET Q q 0 0 0 rg BT 99.92 127.40 Td (relevant ) Tj ET Q q 0 0 0 rg BT 127.68 127.40 Td (subsidiary) Tj ET Q q 0 0 0 rg BT 160.05 127.40 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 111.80 Td (Change ) Tj ET Q q 0 0 0 rg BT 77.30 111.80 Td (in ) Tj ET Q q 0 0 0 rg BT 85.54 111.80 Td (fair) Tj ET Q q 0 0 0 rg BT 97.83 111.80 Td ( ) Tj ET Q q 0 0 0 rg BT 99.41 111.80 Td (value ) Tj ET Q q 0 0 0 rg BT 119.20 111.80 Td (of ) Tj ET Q q 0 0 0 rg BT 127.43 111.80 Td (derivatives:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 167.42 111.80 Td ( ) Tj ET Q q 0 0 0 rg BT 168.99 111.80 Td (During ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 193.23 111.80 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 209.23 111.80 Td (, ) Tj ET Q q 0 0 0 rg BT 212.80 111.80 Td (we ) Tj ET Q q 0 0 0 rg BT 223.70 111.80 Td (recognized ) Tj ET Q q 0 0 0 rg BT 260.36 111.80 Td (a ) Tj ET Q q 0 0 0 rg BT 265.48 111.80 Td (gain ) Tj ET Q q 0 0 0 rg BT 280.83 111.80 Td (of ) Tj ET Q q 0 0 0 rg BT 289.06 111.80 Td (US$) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 305.29 111.80 Td (2.3million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.40 111.80 Td (as ) Tj ET Q q 0 0 0 rg BT 350.64 111.80 Td (a ) Tj ET Q q 0 0 0 rg BT 355.76 111.80 Td (result ) Tj ET Q q 0 0 0 rg BT 375.11 111.80 Td (of ) Tj ET Q q 0 0 0 rg BT 383.34 111.80 Td (the ) Tj ET Q q 0 0 0 rg BT 394.69 111.80 Td (change ) Tj ET Q q 0 0 0 rg BT 418.91 111.80 Td (in ) Tj ET Q q 0 0 0 rg BT 426.70 111.80 Td (the ) Tj ET Q q 0 0 0 rg BT 438.05 111.80 Td (fair ) Tj ET Q q 0 0 0 rg BT 450.72 111.80 Td (value ) Tj ET Q q 0 0 0 rg BT 469.62 111.80 Td (of ) Tj ET Q q 0 0 0 rg BT 477.85 111.80 Td (a ) Tj ET Q q 0 0 0 rg BT 482.97 111.80 Td (foreign ) Tj ET Q q 0 0 0 rg BT 507.65 111.80 Td (currency ) Tj ET Q q 0 0 0 rg BT 537.20 111.80 Td (forward ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 102.20 Td (contract ) Tj ET Q q 0 0 0 rg BT 76.98 102.20 Td (which ) Tj ET Q q 0 0 0 rg BT 98.25 102.20 Td (was ) Tj ET Q q 0 0 0 rg BT 112.41 102.20 Td (settled ) Tj ET Q q 0 0 0 rg BT 135.01 102.20 Td (during ) Tj ET Q q 0 0 0 rg BT 157.62 102.20 Td (the ) Tj ET Q q 0 0 0 rg BT 169.11 102.20 Td (second ) Tj ET Q q 0 0 0 rg BT 193.04 102.20 Td (quarter) Tj ET Q q 0 0 0 rg BT 215.25 102.20 Td (. ) Tj ET Q q 0 0 0 rg BT 218.97 102.20 Td (During ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 243.36 102.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 259.36 102.20 Td (, ) Tj ET Q q 0 0 0 rg BT 263.07 102.20 Td (we ) Tj ET Q q 0 0 0 rg BT 274.12 102.20 Td (recognized ) Tj ET Q q 0 0 0 rg BT 310.93 102.20 Td (a ) Tj ET Q q 0 0 0 rg BT 316.20 102.20 Td (net ) Tj ET Q q 0 0 0 rg BT 327.69 102.20 Td (gain ) Tj ET Q q 0 0 0 rg BT 343.18 102.20 Td (of ) Tj ET Q q 0 0 0 rg BT 351.57 102.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.51 102.20 Td (0.1 ) Tj ET Q q 0 0 0 rg BT 379.23 102.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.34 102.20 Td ( ) Tj ET Q q 0 0 0 rg BT 404.06 102.20 Td (on ) Tj ET Q q 0 0 0 rg BT 413.78 102.20 Td (the ) Tj ET Q q 0 0 0 rg BT 425.27 102.20 Td (change ) Tj ET Q q 0 0 0 rg BT 449.64 102.20 Td (in ) Tj ET Q q 0 0 0 rg BT 457.59 102.20 Td (fair ) Tj ET Q q 0 0 0 rg BT 470.41 102.20 Td (value ) Tj ET Q q 0 0 0 rg BT 489.45 102.20 Td (of ) Tj ET Q q 0 0 0 rg BT 497.83 102.20 Td (an ) Tj ET Q q 0 0 0 rg BT 507.10 102.20 Td (interest ) Tj ET Q q 0 0 0 rg BT 532.37 102.20 Td (rate ) Tj ET Q q 0 0 0 rg BT 546.07 102.20 Td (swap ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 92.60 Td (that ) Tj ET Q q 0 0 0 rg BT 63.50 92.60 Td (terminated ) Tj ET Q q 0 0 0 rg BT 99.70 92.60 Td (in ) Tj ET Q q 0 0 0 rg BT 107.93 92.60 Td (the ) Tj ET Q q 0 0 0 rg BT 119.70 92.60 Td (second ) Tj ET Q q 0 0 0 rg BT 143.91 92.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 168.57 92.60 Td (of ) Tj ET Q q 0 0 0 rg BT 177.23 92.60 Td (2013. ) Tj ET Q q 0 0 0 rg BT 197.23 92.60 Td (See ) Tj ET Q q 0 0 0 rg BT 210.78 92.60 Td (Item ) Tj ET Q q 0 0 0 rg BT 227.44 92.60 Td (8, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.44 92.60 Td (Note ) Tj ET Q q 0 0 0 rg BT 252.99 92.60 Td (14, ) Tj ET Q q 0 0 0 rg BT 264.99 92.60 Td ("Financial ) Tj ET Q q 0 0 0 rg BT 300.03 92.60 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 339.80 92.60 Td (and ) Tj ET Q q 0 0 0 rg BT 353.35 92.60 Td (Fair ) Tj ET Q q 0 0 0 rg BT 368.09 92.60 Td (V) Tj ET Q q 0 0 0 rg BT 372.98 92.60 Td (alue ) Tj ET Q q 0 0 0 rg BT 388.31 92.60 Td (Measurements") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.23 92.60 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 77.00 Td (During ) Tj ET Q q 0 0 0 rg BT 74.03 77.00 Td (2012, ) Tj ET Q q 0 0 0 rg BT 93.89 77.00 Td (we ) Tj ET Q q 0 0 0 rg BT 105.09 77.00 Td (recognized ) Tj ET Q q 0 0 0 rg BT 142.04 77.00 Td (a ) Tj ET Q q 0 0 0 rg BT 147.46 77.00 Td (net ) Tj ET Q q 0 0 0 rg BT 159.10 77.00 Td (gain ) Tj ET Q q 0 0 0 rg BT 174.74 77.00 Td (of ) Tj ET Q q 0 0 0 rg BT 183.27 77.00 Td (US$ ) Tj ET Q q 0 0 0 rg BT 199.36 77.00 Td (22.8 ) Tj ET Q q 0 0 0 rg BT 215.22 77.00 Td (million ) Tj ET Q q 0 0 0 rg BT 240.20 77.00 Td (related ) Tj ET Q q 0 0 0 rg BT 263.83 77.00 Td (to ) Tj ET Q q 0 0 0 rg BT 271.92 77.00 Td (the ) Tj ET Q q 0 0 0 rg BT 283.55 77.00 Td (forward ) Tj ET Q q 0 0 0 rg BT 310.74 77.00 Td (sale ) Tj ET Q q 0 0 0 rg BT 325.04 77.00 Td (of ) Tj ET Q q 0 0 0 rg BT 333.57 77.00 Td (shares ) Tj ET Q q 0 0 0 rg BT 355.43 77.00 Td (to ) Tj ET Q q 0 0 0 rg BT 363.38 77.00 Td (TW) Tj ET Q q 0 0 0 rg BT 375.68 77.00 Td ( ) Tj ET Q q 0 0 0 rg BT 377.54 77.00 Td (Investor ) Tj ET Q q 0 0 0 rg BT 405.62 77.00 Td (and ) Tj ET Q q 0 0 0 rg BT 419.04 77.00 Td (US$ ) Tj ET Q q 0 0 0 rg BT 435.13 77.00 Td (24.9 ) Tj ET Q q 0 0 0 rg BT 450.99 77.00 Td (million ) Tj ET Q q 0 0 0 rg BT 475.97 77.00 Td (related ) Tj ET Q q 0 0 0 rg BT 499.60 77.00 Td (to ) Tj ET Q q 0 0 0 rg BT 507.69 77.00 Td (the ) Tj ET Q q 0 0 0 rg BT 519.33 77.00 Td (derivative ) Tj ET Q q 0 0 0 rg BT 553.18 77.00 Td (for ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 67.40 Td (Option ) Tj ET Q q 0 0 0 rg BT 74.01 67.40 Td (Shares ) Tj ET Q q 0 0 0 rg BT 97.63 67.40 Td (\(as ) Tj ET Q q 0 0 0 rg BT 109.25 67.40 Td (defined ) Tj ET Q q 0 0 0 rg BT 135.52 67.40 Td (in ) Tj ET Q q 0 0 0 rg BT 144.04 67.40 Td (Item ) Tj ET Q q 0 0 0 rg BT 160.98 67.40 Td (8, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 169.27 67.40 Td (Note ) Tj ET Q q 0 0 0 rg BT 187.11 67.40 Td (14, ) Tj ET Q q 0 0 0 rg BT 199.40 67.40 Td ("Financial ) Tj ET Q q 0 0 0 rg BT 234.73 67.40 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 274.79 67.40 Td (and ) Tj ET Q q 0 0 0 rg BT 288.63 67.40 Td (Fair ) Tj ET Q q 0 0 0 rg BT 303.64 67.40 Td (V) Tj ET Q q 0 0 0 rg BT 308.53 67.40 Td (alue ) Tj ET Q q 0 0 0 rg BT 324.14 67.40 Td (Measurements") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.06 67.40 Td (\) ) Tj ET Q q 0 0 0 rg BT 379.01 67.40 Td (with ) Tj ET Q q 0 0 0 rg BT 395.36 67.40 Td (TW) Tj ET Q q 0 0 0 rg BT 407.65 67.40 Td ( ) Tj ET Q q 0 0 0 rg BT 409.94 67.40 Td (Investor) Tj ET Q q 0 0 0 rg BT 435.72 67.40 Td (. ) Tj ET Q q 0 0 0 rg BT 439.84 67.40 Td (W) Tj ET Q q 0 0 0 rg BT 446.75 67.40 Td (e ) Tj ET Q q 0 0 0 rg BT 452.59 67.40 Td (also ) Tj ET Q q 0 0 0 rg BT 467.77 67.40 Td (recognized ) Tj ET Q q 0 0 0 rg BT 505.14 67.40 Td (a ) Tj ET Q q 0 0 0 rg BT 510.98 67.40 Td (gain ) Tj ET Q q 0 0 0 rg BT 527.05 67.40 Td (of ) Tj ET Q q 0 0 0 rg BT 536.00 67.40 Td (US$ ) Tj ET Q q 0 0 0 rg BT 552.52 67.40 Td (0.6 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 57.80 Td (million ) Tj ET Q q 0 0 0 rg BT 74.55 57.80 Td (as ) Tj ET Q q 0 0 0 rg BT 83.15 57.80 Td (a ) Tj ET Q q 0 0 0 rg BT 88.64 57.80 Td (result ) Tj ET Q q 0 0 0 rg BT 108.36 57.80 Td (of ) Tj ET Q q 0 0 0 rg BT 116.96 57.80 Td (the ) Tj ET Q q 0 0 0 rg BT 128.67 57.80 Td (change ) Tj ET Q q 0 0 0 rg BT 153.26 57.80 Td (in ) Tj ET Q q 0 0 0 rg BT 161.42 57.80 Td (the ) Tj ET Q q 0 0 0 rg BT 173.13 57.80 Td (fair ) Tj ET Q q 0 0 0 rg BT 186.17 57.80 Td (value ) Tj ET Q q 0 0 0 rg BT 205.44 57.80 Td (of ) Tj ET Q q 0 0 0 rg BT 214.04 57.80 Td (an ) Tj ET Q q 0 0 0 rg BT 223.53 57.80 Td (interest ) Tj ET Q q 0 0 0 rg BT 249.01 57.80 Td (rate ) Tj ET Q q 0 0 0 rg BT 262.94 57.80 Td (swap ) Tj ET Q q 0 0 0 rg BT 281.32 57.80 Td (and ) Tj ET Q q 0 0 0 rg BT 294.81 57.80 Td (a ) Tj ET Q q 0 0 0 rg BT 300.30 57.80 Td (gain ) Tj ET Q q 0 0 0 rg BT 316.01 57.80 Td (of ) Tj ET Q q 0 0 0 rg BT 324.61 57.80 Td (US$ ) Tj ET Q q 0 0 0 rg BT 340.78 57.80 Td (0.7 ) Tj ET Q q 0 0 0 rg BT 352.72 57.80 Td (million ) Tj ET Q q 0 0 0 rg BT 377.77 57.80 Td (as ) Tj ET Q q 0 0 0 rg BT 386.37 57.80 Td (a ) Tj ET Q q 0 0 0 rg BT 391.86 57.80 Td (result ) Tj ET Q q 0 0 0 rg BT 411.57 57.80 Td (of ) Tj ET Q q 0 0 0 rg BT 420.17 57.80 Td (the ) Tj ET Q q 0 0 0 rg BT 431.89 57.80 Td (change ) Tj ET Q q 0 0 0 rg BT 456.48 57.80 Td (in ) Tj ET Q q 0 0 0 rg BT 464.64 57.80 Td (fair ) Tj ET Q q 0 0 0 rg BT 477.68 57.80 Td (value ) Tj ET Q q 0 0 0 rg BT 496.94 57.80 Td (of ) Tj ET Q q 0 0 0 rg BT 505.54 57.80 Td (a ) Tj ET Q q 0 0 0 rg BT 511.03 57.80 Td (currency ) Tj ET Q q 0 0 0 rg BT 540.95 57.80 Td (swaps.) Tj ET Q endstream endobj 67 0 obj <>] /Rotate 0 /Contents 68 0 R>> endobj 68 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (31) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 723.60 Td (Other) Tj ET Q q 0 0 0 rg BT 69.79 723.60 Td ( ) Tj ET Q q 0 0 0 rg BT 71.62 723.60 Td (income ) Tj ET Q q 0 0 0 rg BT 97.88 723.60 Td (/ ) Tj ET Q q 0 0 0 rg BT 101.92 723.60 Td (\(expense\):) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 136.58 723.60 Td ( ) Tj ET Q q 0 0 0 rg BT 138.27 723.60 Td (W) Tj ET Q q 0 0 0 rg BT 145.18 723.60 Td (e ) Tj ET Q q 0 0 0 rg BT 150.55 723.60 Td (recognized ) Tj ET Q q 0 0 0 rg BT 187.46 723.60 Td (other ) Tj ET Q q 0 0 0 rg BT 205.72 723.60 Td (income ) Tj ET Q q 0 0 0 rg BT 231.09 723.60 Td (of ) Tj ET Q q 0 0 0 rg BT 239.58 723.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 255.63 723.60 Td (0.3 ) Tj ET Q q 0 0 0 rg BT 267.45 723.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 290.56 723.60 Td ( ) Tj ET Q q 0 0 0 rg BT 292.38 723.60 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 315.09 723.60 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.09 723.60 Td ( ) Tj ET Q q 0 0 0 rg BT 332.92 723.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 366.28 723.60 Td (to ) Tj ET Q q 0 0 0 rg BT 374.32 723.60 Td (other ) Tj ET Q q 0 0 0 rg BT 392.58 723.60 Td (expense ) Tj ET Q q 0 0 0 rg BT 420.17 723.60 Td (of ) Tj ET Q q 0 0 0 rg BT 428.66 723.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.70 723.60 Td (0.4 ) Tj ET Q q 0 0 0 rg BT 456.53 723.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.64 723.60 Td ( ) Tj ET Q q 0 0 0 rg BT 481.46 723.60 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.51 723.60 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.51 723.60 Td ( ) Tj ET Q q 0 0 0 rg BT 507.33 723.60 Td (and ) Tj ET Q q 0 0 0 rg BT 520.70 723.60 Td (other ) Tj ET Q q 0 0 0 rg BT 538.96 723.60 Td (income ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 714.00 Td (of ) Tj ET Q q 0 0 0 rg BT 58.16 714.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 74.39 714.00 Td (1.0 ) Tj ET Q q 0 0 0 rg BT 86.39 714.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 109.50 714.00 Td ( ) Tj ET Q q 0 0 0 rg BT 111.50 714.00 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 119.73 714.00 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 135.73 714.00 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 698.40 Td (Cr) Tj ET Q q 0 0 0 rg BT 58.68 698.40 Td (edit ) Tj ET Q q 0 0 0 rg BT 73.74 698.40 Td (for) Tj ET Q q 0 0 0 rg BT 83.81 698.40 Td ( ) Tj ET Q q 0 0 0 rg BT 85.97 698.40 Td (income ) Tj ET Q q 0 0 0 rg BT 112.58 698.40 Td (taxes:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 132.57 698.40 Td () Tj ET Q q 0 0 0 rg BT 134.43 698.40 Td (The ) Tj ET Q q 0 0 0 rg BT 149.03 698.40 Td (credit ) Tj ET Q q 0 0 0 rg BT 169.41 698.40 Td (for ) Tj ET Q q 0 0 0 rg BT 180.90 698.40 Td (income ) Tj ET Q q 0 0 0 rg BT 206.62 698.40 Td (taxes ) Tj ET Q q 0 0 0 rg BT 225.22 698.40 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 248.28 698.40 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 264.28 698.40 Td ( ) Tj ET Q q 0 0 0 rg BT 266.44 698.40 Td (of ) Tj ET Q q 0 0 0 rg BT 275.27 698.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.67 698.40 Td (1.4 ) Tj ET Q q 0 0 0 rg BT 303.83 698.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.95 698.40 Td ( ) Tj ET Q q 0 0 0 rg BT 329.12 698.40 Td (reflects ) Tj ET Q q 0 0 0 rg BT 354.82 698.40 Td (the ) Tj ET Q q 0 0 0 rg BT 366.76 698.40 Td (value ) Tj ET Q q 0 0 0 rg BT 386.25 698.40 Td (of ) Tj ET Q q 0 0 0 rg BT 395.08 698.40 Td (the ) Tj ET Q q 0 0 0 rg BT 407.02 698.40 Td (deferred ) Tj ET Q q 0 0 0 rg BT 435.84 698.40 Td (tax ) Tj ET Q q 0 0 0 rg BT 447.78 698.40 Td (benefit ) Tj ET Q q 0 0 0 rg BT 472.15 698.40 Td (that ) Tj ET Q q 0 0 0 rg BT 486.32 698.40 Td (we ) Tj ET Q q 0 0 0 rg BT 497.81 698.40 Td (have ) Tj ET Q q 0 0 0 rg BT 515.08 698.40 Td (realized ) Tj ET Q q 0 0 0 rg BT 542.56 698.40 Td (on ) Tj ET Q q 0 0 0 rg BT 552.73 698.40 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 688.80 Td (operating ) Tj ET Q q 0 0 0 rg BT 81.71 688.80 Td (loss ) Tj ET Q q 0 0 0 rg BT 96.16 688.80 Td (incurred ) Tj ET Q q 0 0 0 rg BT 124.81 688.80 Td (by ) Tj ET Q q 0 0 0 rg BT 134.81 688.80 Td (our ) Tj ET Q q 0 0 0 rg BT 147.48 688.80 Td (Czech ) Tj ET Q q 0 0 0 rg BT 169.46 688.80 Td (Republic ) Tj ET Q q 0 0 0 rg BT 200.35 688.80 Td (segment, ) Tj ET Q q 0 0 0 rg BT 231.01 688.80 Td (which ) Tj ET Q q 0 0 0 rg BT 252.56 688.80 Td (was ) Tj ET Q q 0 0 0 rg BT 267.00 688.80 Td (substantially ) Tj ET Q q 0 0 0 rg BT 309.44 688.80 Td (lower ) Tj ET Q q 0 0 0 rg BT 329.66 688.80 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.88 688.80 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.88 688.80 Td ( ) Tj ET Q q 0 0 0 rg BT 355.88 688.80 Td (compared ) Tj ET Q q 0 0 0 rg BT 389.42 688.80 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.64 688.80 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.64 688.80 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 673.20 Td (The ) Tj ET Q q 0 0 0 rg BT 63.92 673.20 Td (credit ) Tj ET Q q 0 0 0 rg BT 84.12 673.20 Td (for ) Tj ET Q q 0 0 0 rg BT 95.44 673.20 Td (income ) Tj ET Q q 0 0 0 rg BT 120.97 673.20 Td (taxes ) Tj ET Q q 0 0 0 rg BT 139.39 673.20 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 162.27 673.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 178.27 673.20 Td ( ) Tj ET Q q 0 0 0 rg BT 180.25 673.20 Td (of ) Tj ET Q q 0 0 0 rg BT 188.90 673.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 205.12 673.20 Td (18.0 ) Tj ET Q q 0 0 0 rg BT 221.10 673.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 244.21 673.20 Td ( ) Tj ET Q q 0 0 0 rg BT 246.20 673.20 Td (reflects ) Tj ET Q q 0 0 0 rg BT 271.73 673.20 Td (the ) Tj ET Q q 0 0 0 rg BT 283.49 673.20 Td (value ) Tj ET Q q 0 0 0 rg BT 302.80 673.20 Td (of ) Tj ET Q q 0 0 0 rg BT 311.45 673.20 Td (the ) Tj ET Q q 0 0 0 rg BT 323.21 673.20 Td (deferred ) Tj ET Q q 0 0 0 rg BT 351.84 673.20 Td (tax ) Tj ET Q q 0 0 0 rg BT 363.60 673.20 Td (benefit ) Tj ET Q q 0 0 0 rg BT 387.79 673.20 Td (that ) Tj ET Q q 0 0 0 rg BT 401.78 673.20 Td (we ) Tj ET Q q 0 0 0 rg BT 413.09 673.20 Td (have ) Tj ET Q q 0 0 0 rg BT 430.18 673.20 Td (realized ) Tj ET Q q 0 0 0 rg BT 457.48 673.20 Td (on ) Tj ET Q q 0 0 0 rg BT 467.46 673.20 Td (the ) Tj ET Q q 0 0 0 rg BT 479.22 673.20 Td (operating ) Tj ET Q q 0 0 0 rg BT 511.42 673.20 Td (loss ) Tj ET Q q 0 0 0 rg BT 525.86 673.20 Td (incurred ) Tj ET Q q 0 0 0 rg BT 554.50 673.20 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 663.60 Td (our ) Tj ET Q q 0 0 0 rg BT 62.16 663.60 Td (Czech ) Tj ET Q q 0 0 0 rg BT 84.15 663.60 Td (Republic ) Tj ET Q q 0 0 0 rg BT 115.04 663.60 Td (segment, ) Tj ET Q q 0 0 0 rg BT 145.70 663.60 Td (which ) Tj ET Q q 0 0 0 rg BT 167.25 663.60 Td (caused ) Tj ET Q q 0 0 0 rg BT 191.01 663.60 Td (the ) Tj ET Q q 0 0 0 rg BT 202.79 663.60 Td (increase ) Tj ET Q q 0 0 0 rg BT 230.99 663.60 Td (in ) Tj ET Q q 0 0 0 rg BT 239.21 663.60 Td (income ) Tj ET Q q 0 0 0 rg BT 264.76 663.60 Td (tax ) Tj ET Q q 0 0 0 rg BT 276.53 663.60 Td (credit ) Tj ET Q q 0 0 0 rg BT 296.74 663.60 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 304.96 663.60 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 320.96 663.60 Td ( ) Tj ET Q q 0 0 0 rg BT 322.96 663.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 356.50 663.60 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 364.73 663.60 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.73 663.60 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 648.00 Td (The ) Tj ET Q q 0 0 0 rg BT 63.94 648.00 Td (credit ) Tj ET Q q 0 0 0 rg BT 84.15 648.00 Td (for ) Tj ET Q q 0 0 0 rg BT 95.48 648.00 Td (income ) Tj ET Q q 0 0 0 rg BT 121.02 648.00 Td (taxes ) Tj ET Q q 0 0 0 rg BT 139.46 648.00 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 162.35 648.00 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 178.35 648.00 Td ( ) Tj ET Q q 0 0 0 rg BT 180.35 648.00 Td (of ) Tj ET Q q 0 0 0 rg BT 189.01 648.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 205.24 648.00 Td (14.8 ) Tj ET Q q 0 0 0 rg BT 221.24 648.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 244.35 648.00 Td ( ) Tj ET Q q 0 0 0 rg BT 246.35 648.00 Td (reflects ) Tj ET Q q 0 0 0 rg BT 271.89 648.00 Td (the ) Tj ET Q q 0 0 0 rg BT 283.66 648.00 Td (value ) Tj ET Q q 0 0 0 rg BT 302.99 648.00 Td (of ) Tj ET Q q 0 0 0 rg BT 311.65 648.00 Td (deferred ) Tj ET Q q 0 0 0 rg BT 340.30 648.00 Td (tax ) Tj ET Q q 0 0 0 rg BT 352.07 648.00 Td (benefits ) Tj ET Q q 0 0 0 rg BT 379.39 648.00 Td (that ) Tj ET Q q 0 0 0 rg BT 393.39 648.00 Td (we ) Tj ET Q q 0 0 0 rg BT 404.72 648.00 Td (have ) Tj ET Q q 0 0 0 rg BT 421.82 648.00 Td (realized ) Tj ET Q q 0 0 0 rg BT 449.13 648.00 Td (on ) Tj ET Q q 0 0 0 rg BT 459.13 648.00 Td (impairments.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 632.40 Td (Our ) Tj ET Q q 0 0 0 rg BT 63.94 632.40 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 103.71 632.40 Td (are ) Tj ET Q q 0 0 0 rg BT 115.48 632.40 Td (subject ) Tj ET Q q 0 0 0 rg BT 140.14 632.40 Td (to ) Tj ET Q q 0 0 0 rg BT 148.36 632.40 Td (income ) Tj ET Q q 0 0 0 rg BT 173.91 632.40 Td (taxes ) Tj ET Q q 0 0 0 rg BT 192.35 632.40 Td (at ) Tj ET Q q 0 0 0 rg BT 200.12 632.40 Td (statutory ) Tj ET Q q 0 0 0 rg BT 230.12 632.40 Td (rates ) Tj ET Q q 0 0 0 rg BT 247.22 632.40 Td (ranging ) Tj ET Q q 0 0 0 rg BT 273.66 632.40 Td (from ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.21 632.40 Td (10.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.87 632.40 Td ( ) Tj ET Q q 0 0 0 rg BT 313.87 632.40 Td (in ) Tj ET Q q 0 0 0 rg BT 322.09 632.40 Td (Bulgaria ) Tj ET Q q 0 0 0 rg BT 351.64 632.40 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 359.86 632.40 Td (22.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.53 632.40 Td ( ) Tj ET Q q 0 0 0 rg BT 382.53 632.40 Td (in ) Tj ET Q q 0 0 0 rg BT 390.75 632.40 Td (Slovakia ) Tj ET Q q 0 0 0 rg BT 420.75 632.40 Td (\(see ) Tj ET Q q 0 0 0 rg BT 435.63 632.40 Td (Item ) Tj ET Q q 0 0 0 rg BT 452.29 632.40 Td (8, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.29 632.40 Td (Note ) Tj ET Q q 0 0 0 rg BT 477.84 632.40 Td (18, ) Tj ET Q q 0 0 0 rg BT 489.84 632.40 Td ("Income ) Tj ET Q q 0 0 0 rg BT 518.95 632.40 Td (T) Tj ET Q q 0 0 0 rg BT 523.27 632.40 Td (axes") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.75 632.40 Td (\).) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 616.80 Td (Net ) Tj ET Q q 0 0 0 rg BT 63.48 616.80 Td (loss ) Tj ET Q q 0 0 0 rg BT 77.91 616.80 Td (attributable ) Tj ET Q q 0 0 0 rg BT 120.78 616.80 Td (to ) Tj ET Q q 0 0 0 rg BT 129.43 616.80 Td (noncontr) Tj ET Q q 0 0 0 rg BT 160.40 616.80 Td (olling ) Tj ET Q q 0 0 0 rg BT 181.50 616.80 Td (inter) Tj ET Q q 0 0 0 rg BT 197.80 616.80 Td (ests:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 212.90 616.80 Td () Tj ET Q q 0 0 0 rg BT 214.76 616.80 Td (W) Tj ET Q q 0 0 0 rg BT 221.67 616.80 Td (e ) Tj ET Q q 0 0 0 rg BT 227.21 616.80 Td (recognized ) Tj ET Q q 0 0 0 rg BT 264.28 616.80 Td (net ) Tj ET Q q 0 0 0 rg BT 276.04 616.80 Td (losses ) Tj ET Q q 0 0 0 rg BT 297.14 616.80 Td (attributable ) Tj ET Q q 0 0 0 rg BT 335.55 616.80 Td (to ) Tj ET Q q 0 0 0 rg BT 343.76 616.80 Td (noncontrolling ) Tj ET Q q 0 0 0 rg BT 392.85 616.80 Td (interests ) Tj ET Q q 0 0 0 rg BT 421.50 616.80 Td (of ) Tj ET Q q 0 0 0 rg BT 430.15 616.80 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.36 616.80 Td (4.5 ) Tj ET Q q 0 0 0 rg BT 458.34 616.80 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.46 616.80 Td (, ) Tj ET Q q 0 0 0 rg BT 485.44 616.80 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.65 616.80 Td (3.9 ) Tj ET Q q 0 0 0 rg BT 513.64 616.80 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 616.80 Td ( ) Tj ET Q q 0 0 0 rg BT 538.74 616.80 Td (and ) Tj ET Q q 0 0 0 rg BT 552.27 616.80 Td (US) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 607.20 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 55.50 607.20 Td (10.7 ) Tj ET Q q 0 0 0 rg BT 71.29 607.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 94.40 607.20 Td ( ) Tj ET Q q 0 0 0 rg BT 96.20 607.20 Td (for ) Tj ET Q q 0 0 0 rg BT 107.31 607.20 Td (the ) Tj ET Q q 0 0 0 rg BT 118.88 607.20 Td (years ) Tj ET Q q 0 0 0 rg BT 137.55 607.20 Td (ended ) Tj ET Q q 0 0 0 rg BT 158.44 607.20 Td (December ) Tj ET Q q 0 0 0 rg BT 193.10 607.20 Td (31, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 204.89 607.20 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 220.89 607.20 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 224.68 607.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 240.68 607.20 Td ( ) Tj ET Q q 0 0 0 rg BT 242.47 607.20 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 255.81 607.20 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.81 607.20 Td (, ) Tj ET Q q 0 0 0 rg BT 275.61 607.20 Td (respectively) Tj ET Q q 0 0 0 rg BT 313.73 607.20 Td (, ) Tj ET Q q 0 0 0 rg BT 317.53 607.20 Td (related ) Tj ET Q q 0 0 0 rg BT 341.08 607.20 Td (primarily ) Tj ET Q q 0 0 0 rg BT 372.64 607.20 Td (to ) Tj ET Q q 0 0 0 rg BT 380.65 607.20 Td (the ) Tj ET Q q 0 0 0 rg BT 392.22 607.20 Td (noncontrolling ) Tj ET Q q 0 0 0 rg BT 441.11 607.20 Td (interest ) Tj ET Q q 0 0 0 rg BT 466.45 607.20 Td (share ) Tj ET Q q 0 0 0 rg BT 485.12 607.20 Td (of ) Tj ET Q q 0 0 0 rg BT 493.58 607.20 Td (losses ) Tj ET Q q 0 0 0 rg BT 514.48 607.20 Td (in ) Tj ET Q q 0 0 0 rg BT 522.49 607.20 Td (our ) Tj ET Q q 0 0 0 rg BT 534.95 607.20 Td (Bulgaria ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 597.60 Td (operations.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 582.00 Td (Curr) Tj ET Q q 0 0 0 rg BT 66.68 582.00 Td (ency ) Tj ET Q q 0 0 0 rg BT 84.10 582.00 Td (translation ) Tj ET Q q 0 0 0 rg BT 123.29 582.00 Td (adjustment:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 164.63 582.00 Td () Tj ET Q q 0 0 0 rg BT 166.48 582.00 Td (The ) Tj ET Q q 0 0 0 rg BT 180.78 582.00 Td (underlying ) Tj ET Q q 0 0 0 rg BT 217.30 582.00 Td (equity ) Tj ET Q q 0 0 0 rg BT 239.16 582.00 Td (value ) Tj ET Q q 0 0 0 rg BT 258.34 582.00 Td (of ) Tj ET Q q 0 0 0 rg BT 266.87 582.00 Td (our ) Tj ET Q q 0 0 0 rg BT 279.39 582.00 Td (investments ) Tj ET Q q 0 0 0 rg BT 319.47 582.00 Td (\(which ) Tj ET Q q 0 0 0 rg BT 343.55 582.00 Td (are ) Tj ET Q q 0 0 0 rg BT 355.18 582.00 Td (denominated ) Tj ET Q q 0 0 0 rg BT 398.36 582.00 Td (in ) Tj ET Q q 0 0 0 rg BT 406.44 582.00 Td (the ) Tj ET Q q 0 0 0 rg BT 418.08 582.00 Td (functional ) Tj ET Q q 0 0 0 rg BT 452.37 582.00 Td (currency ) Tj ET Q q 0 0 0 rg BT 482.21 582.00 Td (of ) Tj ET Q q 0 0 0 rg BT 490.74 582.00 Td (the ) Tj ET Q q 0 0 0 rg BT 502.38 582.00 Td (relevant ) Tj ET Q q 0 0 0 rg BT 530.00 582.00 Td (entity\) ) Tj ET Q q 0 0 0 rg BT 552.74 582.00 Td (are ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 572.40 Td (converted ) Tj ET Q q 0 0 0 rg BT 82.43 572.40 Td (into ) Tj ET Q q 0 0 0 rg BT 96.26 572.40 Td (dollars ) Tj ET Q q 0 0 0 rg BT 119.43 572.40 Td (at ) Tj ET Q q 0 0 0 rg BT 126.59 572.40 Td (each ) Tj ET Q q 0 0 0 rg BT 142.63 572.40 Td (balance ) Tj ET Q q 0 0 0 rg BT 168.45 572.40 Td (sheet ) Tj ET Q q 0 0 0 rg BT 186.27 572.40 Td (date, ) Tj ET Q q 0 0 0 rg BT 202.99 572.40 Td (with ) Tj ET Q q 0 0 0 rg BT 218.60 572.40 Td (any ) Tj ET Q q 0 0 0 rg BT 231.54 572.40 Td (change ) Tj ET Q q 0 0 0 rg BT 255.58 572.40 Td (in ) Tj ET Q q 0 0 0 rg BT 263.20 572.40 Td (value ) Tj ET Q q 0 0 0 rg BT 281.91 572.40 Td (of ) Tj ET Q q 0 0 0 rg BT 289.96 572.40 Td (the ) Tj ET Q q 0 0 0 rg BT 301.13 572.40 Td (underlying ) Tj ET Q q 0 0 0 rg BT 337.18 572.40 Td (assets ) Tj ET Q q 0 0 0 rg BT 357.23 572.40 Td (and ) Tj ET Q q 0 0 0 rg BT 370.17 572.40 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 401.33 572.40 Td (being ) Tj ET Q q 0 0 0 rg BT 420.50 572.40 Td (recorded ) Tj ET Q q 0 0 0 rg BT 449.87 572.40 Td (as ) Tj ET Q q 0 0 0 rg BT 457.92 572.40 Td (a ) Tj ET Q q 0 0 0 rg BT 462.86 572.40 Td (currency ) Tj ET Q q 0 0 0 rg BT 492.23 572.40 Td (translation ) Tj ET Q q 0 0 0 rg BT 527.39 572.40 Td (adjustment ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 562.80 Td (to ) Tj ET Q q 0 0 0 rg BT 57.72 562.80 Td (the ) Tj ET Q q 0 0 0 rg BT 69.50 562.80 Td (balance ) Tj ET Q q 0 0 0 rg BT 95.92 562.80 Td (sheet ) Tj ET Q q 0 0 0 rg BT 114.36 562.80 Td (rather ) Tj ET Q q 0 0 0 rg BT 135.01 562.80 Td (than ) Tj ET Q q 0 0 0 rg BT 150.79 562.80 Td (through ) Tj ET Q q 0 0 0 rg BT 177.67 562.80 Td (net ) Tj ET Q q 0 0 0 rg BT 189.45 562.80 Td (income ) Tj ET Q q 0 0 0 rg BT 214.99 562.80 Td (/ ) Tj ET Q q 0 0 0 rg BT 219.21 562.80 Td (loss.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 547.20 Td (In ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.03 547.20 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 74.03 547.20 Td ( ) Tj ET Q q 0 0 0 rg BT 75.90 547.20 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 89.32 547.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 105.32 547.20 Td (, ) Tj ET Q q 0 0 0 rg BT 109.19 547.20 Td (we ) Tj ET Q q 0 0 0 rg BT 120.39 547.20 Td (recognized ) Tj ET Q q 0 0 0 rg BT 157.35 547.20 Td (other ) Tj ET Q q 0 0 0 rg BT 175.65 547.20 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 225.95 547.20 Td (loss ) Tj ET Q q 0 0 0 rg BT 240.27 547.20 Td (of ) Tj ET Q q 0 0 0 rg BT 248.80 547.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 264.90 547.20 Td (156.2 ) Tj ET Q q 0 0 0 rg BT 284.77 547.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.88 547.20 Td ( ) Tj ET Q q 0 0 0 rg BT 309.75 547.20 Td (and ) Tj ET Q q 0 0 0 rg BT 323.17 547.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.26 547.20 Td (58.2 ) Tj ET Q q 0 0 0 rg BT 355.13 547.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 378.25 547.20 Td (, ) Tj ET Q q 0 0 0 rg BT 382.12 547.20 Td (respectively) Tj ET Q q 0 0 0 rg BT 420.24 547.20 Td (, ) Tj ET Q q 0 0 0 rg BT 424.11 547.20 Td (on ) Tj ET Q q 0 0 0 rg BT 433.98 547.20 Td (the ) Tj ET Q q 0 0 0 rg BT 445.63 547.20 Td (revaluation ) Tj ET Q q 0 0 0 rg BT 483.48 547.20 Td (of ) Tj ET Q q 0 0 0 rg BT 492.01 547.20 Td (our ) Tj ET Q q 0 0 0 rg BT 504.54 547.20 Td (net ) Tj ET Q q 0 0 0 rg BT 516.19 547.20 Td (investments ) Tj ET Q q 0 0 0 rg BT 556.28 547.20 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 537.60 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 89.37 537.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 123.00 537.60 Td (to ) Tj ET Q q 0 0 0 rg BT 131.32 537.60 Td (other ) Tj ET Q q 0 0 0 rg BT 149.85 537.60 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 200.37 537.60 Td (income ) Tj ET Q q 0 0 0 rg BT 226.01 537.60 Td (of ) Tj ET Q q 0 0 0 rg BT 234.77 537.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 251.09 537.60 Td (28.7 ) Tj ET Q q 0 0 0 rg BT 267.19 537.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 290.30 537.60 Td ( ) Tj ET Q q 0 0 0 rg BT 292.40 537.60 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 300.71 537.60 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 316.71 537.60 Td (. ) Tj ET Q q 0 0 0 rg BT 320.35 537.60 Td (Also, ) Tj ET Q q 0 0 0 rg BT 339.55 537.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 363.41 537.60 Td (of ) Tj ET Q q 0 0 0 rg BT 372.17 537.60 Td (our ) Tj ET Q q 0 0 0 rg BT 384.93 537.60 Td (intercompany ) Tj ET Q q 0 0 0 rg BT 431.01 537.60 Td (loans ) Tj ET Q q 0 0 0 rg BT 449.99 537.60 Td (are ) Tj ET Q q 0 0 0 rg BT 461.85 537.60 Td (considered ) Tj ET Q q 0 0 0 rg BT 498.60 537.60 Td (to ) Tj ET Q q 0 0 0 rg BT 506.91 537.60 Td (be ) Tj ET Q q 0 0 0 rg BT 516.56 537.60 Td (of ) Tj ET Q q 0 0 0 rg BT 525.32 537.60 Td (a ) Tj ET Q q 0 0 0 rg BT 530.96 537.60 Td (long-term ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 528.00 Td (investment ) Tj ET Q q 0 0 0 rg BT 86.62 528.00 Td (nature ) Tj ET Q q 0 0 0 rg BT 108.62 528.00 Td (as ) Tj ET Q q 0 0 0 rg BT 117.30 528.00 Td (the ) Tj ET Q q 0 0 0 rg BT 129.08 528.00 Td (repayment ) Tj ET Q q 0 0 0 rg BT 164.86 528.00 Td (of ) Tj ET Q q 0 0 0 rg BT 173.53 528.00 Td (these ) Tj ET Q q 0 0 0 rg BT 191.98 528.00 Td (loans ) Tj ET Q q 0 0 0 rg BT 210.88 528.00 Td (is ) Tj ET Q q 0 0 0 rg BT 218.23 528.00 Td (neither ) Tj ET Q q 0 0 0 rg BT 242.46 528.00 Td (planned ) Tj ET Q q 0 0 0 rg BT 269.79 528.00 Td (nor ) Tj ET Q q 0 0 0 rg BT 282.47 528.00 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 319.58 528.00 Td (for ) Tj ET Q q 0 0 0 rg BT 330.92 528.00 Td (the ) Tj ET Q q 0 0 0 rg BT 342.70 528.00 Td (foreseeable ) Tj ET Q q 0 0 0 rg BT 381.13 528.00 Td (future. ) Tj ET Q q 0 0 0 rg BT 404.25 528.00 Td (For ) Tj ET Q q 0 0 0 rg BT 417.37 528.00 Td (the ) Tj ET Q q 0 0 0 rg BT 429.16 528.00 Td (year ) Tj ET Q q 0 0 0 rg BT 444.94 528.00 Td (ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.05 528.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 512.93 528.00 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.93 528.00 Td ( ) Tj ET Q q 0 0 0 rg BT 530.94 528.00 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.51 528.00 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 560.51 528.00 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 518.40 Td (we ) Tj ET Q q 0 0 0 rg BT 60.79 518.40 Td (recorded ) Tj ET Q q 0 0 0 rg BT 90.73 518.40 Td (foreign ) Tj ET Q q 0 0 0 rg BT 115.80 518.40 Td (exchange ) Tj ET Q q 0 0 0 rg BT 147.96 518.40 Td (losses ) Tj ET Q q 0 0 0 rg BT 169.04 518.40 Td (of ) Tj ET Q q 0 0 0 rg BT 177.66 518.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 193.85 518.40 Td (164.4million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 236.96 518.40 Td ( ) Tj ET Q q 0 0 0 rg BT 238.93 518.40 Td (and ) Tj ET Q q 0 0 0 rg BT 252.44 518.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 268.63 518.40 Td (16.4million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.74 518.40 Td (, ) Tj ET Q q 0 0 0 rg BT 311.70 518.40 Td (respectively) Tj ET Q q 0 0 0 rg BT 349.83 518.40 Td (, ) Tj ET Q q 0 0 0 rg BT 353.79 518.40 Td (on ) Tj ET Q q 0 0 0 rg BT 363.75 518.40 Td (the ) Tj ET Q q 0 0 0 rg BT 375.49 518.40 Td (retranslation ) Tj ET Q q 0 0 0 rg BT 417.44 518.40 Td (of ) Tj ET Q q 0 0 0 rg BT 426.06 518.40 Td (these ) Tj ET Q q 0 0 0 rg BT 444.46 518.40 Td (intercompany ) Tj ET Q q 0 0 0 rg BT 490.41 518.40 Td (loans ) Tj ET Q q 0 0 0 rg BT 509.26 518.40 Td (as ) Tj ET Q q 0 0 0 rg BT 517.88 518.40 Td (an ) Tj ET Q q 0 0 0 rg BT 527.40 518.40 Td (adjustment ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 508.80 Td (to ) Tj ET Q q 0 0 0 rg BT 57.72 508.80 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 100.14 508.80 Td (other ) Tj ET Q q 0 0 0 rg BT 118.58 508.80 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 169.01 508.80 Td (income, ) Tj ET Q q 0 0 0 rg BT 196.55 508.80 Td (a ) Tj ET Q q 0 0 0 rg BT 202.11 508.80 Td (component ) Tj ET Q q 0 0 0 rg BT 239.65 508.80 Td (of ) Tj ET Q q 0 0 0 rg BT 248.32 508.80 Td (shareholders' ) Tj ET Q q 0 0 0 rg BT 292.19 508.80 Td (equity) Tj ET Q q 0 0 0 rg BT 311.66 508.80 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 493.20 Td (The ) Tj ET Q q 0 0 0 rg BT 64.01 493.20 Td (following ) Tj ET Q q 0 0 0 rg BT 97.19 493.20 Td (table ) Tj ET Q q 0 0 0 rg BT 114.81 493.20 Td (illustrates ) Tj ET Q q 0 0 0 rg BT 147.99 493.20 Td (the ) Tj ET Q q 0 0 0 rg BT 159.84 493.20 Td (amount ) Tj ET Q q 0 0 0 rg BT 185.91 493.20 Td (by ) Tj ET Q q 0 0 0 rg BT 195.98 493.20 Td (which ) Tj ET Q q 0 0 0 rg BT 217.61 493.20 Td (the ) Tj ET Q q 0 0 0 rg BT 229.45 493.20 Td (spot ) Tj ET Q q 0 0 0 rg BT 244.86 493.20 Td (exchange ) Tj ET Q q 0 0 0 rg BT 277.14 493.20 Td (rate ) Tj ET Q q 0 0 0 rg BT 291.20 493.20 Td (of ) Tj ET Q q 0 0 0 rg BT 299.94 493.20 Td (the ) Tj ET Q q 0 0 0 rg BT 311.78 493.20 Td (dollar ) Tj ET Q q 0 0 0 rg BT 332.52 493.20 Td (to ) Tj ET Q q 0 0 0 rg BT 340.81 493.20 Td (the ) Tj ET Q q 0 0 0 rg BT 352.66 493.20 Td (functional ) Tj ET Q q 0 0 0 rg BT 387.17 493.20 Td (currencies ) Tj ET Q q 0 0 0 rg BT 422.11 493.20 Td (of ) Tj ET Q q 0 0 0 rg BT 430.84 493.20 Td (our ) Tj ET Q q 0 0 0 rg BT 443.58 493.20 Td (operations ) Tj ET Q q 0 0 0 rg BT 478.98 493.20 Td (moved ) Tj ET Q q 0 0 0 rg BT 502.83 493.20 Td (between ) Tj ET Q q 0 0 0 rg BT 531.55 493.20 Td (January ) Tj ET Q q 0 0 0 rg BT 558.50 493.20 Td (1 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 483.60 Td (and ) Tj ET Q q 0 0 0 rg BT 63.05 483.60 Td (December ) Tj ET Q q 0 0 0 rg BT 97.92 483.60 Td (31 ) Tj ET Q q 0 0 0 rg BT 107.92 483.60 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 116.14 483.60 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 132.14 483.60 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 136.14 483.60 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 152.14 483.60 Td ( ) Tj ET Q q 0 0 0 rg BT 154.14 483.60 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 167.69 483.60 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 183.69 483.60 Td (, ) Tj ET Q q 0 0 0 rg BT 187.69 483.60 Td (respectively:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 443.10 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 443.10 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 443.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 443.10 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 443.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 443.10 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 413.10 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 413.10 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 413.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 413.10 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 413.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 413.10 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 383.10 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 383.10 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 383.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 383.10 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 383.10 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 383.10 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 359 458.1 m 424 458.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424 458.1 m 428 458.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428 458.1 m 493 458.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493 458.1 m 497 458.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497 458.1 m 562 458.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 359 458.1 m 424 458.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 359 443.1 m 424 443.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428 443.1 m 493 443.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497 458.1 m 562 458.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497 443.1 m 562 443.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 359 443.1 m 424 443.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428 443.1 m 493 443.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497 443.1 m 562 443.1 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 462.35 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.75 462.33 Td (For The Year Ending December 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 447.35 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 404.50 447.33 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 473.50 447.33 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 542.50 447.33 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 432.35 Td (Bulgarian ) Tj ET Q q 0 0 0 rg BT 86.05 432.35 Td (Lev) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.80 432.35 Td (13) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.80 432.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.45 432.35 Td (\(4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 483.15 432.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.45 432.35 Td (\(2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 552.15 432.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 417.35 Td (Croatian ) Tj ET Q q 0 0 0 rg BT 82.05 417.35 Td (Kuna) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.80 417.35 Td (14) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.80 417.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.45 417.35 Td (\(3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 483.15 417.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.45 417.35 Td (\(2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 552.15 417.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 402.35 Td (Czech ) Tj ET Q q 0 0 0 rg BT 74.49 402.35 Td (Koruna) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.80 402.35 Td (15) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.80 402.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.15 402.35 Td (4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 485.80 402.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.45 402.35 Td (\(4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 552.15 402.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 387.35 Td (Euro) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.80 387.35 Td (14) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.80 387.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.45 387.35 Td (\(4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 483.15 387.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.45 387.35 Td (\(2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 552.15 387.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 372.35 Td (New ) Tj ET Q q 0 0 0 rg BT 69.61 372.35 Td (Romanian ) Tj ET Q q 0 0 0 rg BT 104.49 372.35 Td (Lei) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.80 372.35 Td (13) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.80 372.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.45 372.35 Td (\(3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 483.15 372.35 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 548.15 372.35 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.80 372.35 Td (%) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 353.00 Td (The ) Tj ET Q q 0 0 0 rg BT 63.85 353.00 Td (dollar ) Tj ET Q q 0 0 0 rg BT 84.42 353.00 Td (was ) Tj ET Q q 0 0 0 rg BT 98.77 353.00 Td (stronger ) Tj ET Q q 0 0 0 rg BT 126.89 353.00 Td (overall ) Tj ET Q q 0 0 0 rg BT 151.02 353.00 Td (against ) Tj ET Q q 0 0 0 rg BT 175.59 353.00 Td (the ) Tj ET Q q 0 0 0 rg BT 187.27 353.00 Td (functional ) Tj ET Q q 0 0 0 rg BT 221.61 353.00 Td (currencies ) Tj ET Q q 0 0 0 rg BT 256.39 353.00 Td (of ) Tj ET Q q 0 0 0 rg BT 264.96 353.00 Td (our ) Tj ET Q q 0 0 0 rg BT 277.54 353.00 Td (operations ) Tj ET Q q 0 0 0 rg BT 312.77 353.00 Td (between ) Tj ET Q q 0 0 0 rg BT 341.34 353.00 Td (January ) Tj ET Q q 0 0 0 rg BT 368.13 353.00 Td (1 ) Tj ET Q q 0 0 0 rg BT 374.04 353.00 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 387.50 353.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 434.27 353.00 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.27 353.00 Td (, ) Tj ET Q q 0 0 0 rg BT 454.18 353.00 Td (most ) Tj ET Q q 0 0 0 rg BT 471.65 353.00 Td (notably ) Tj ET Q q 0 0 0 rg BT 497.56 353.00 Td (in ) Tj ET Q q 0 0 0 rg BT 505.69 353.00 Td (the ) Tj ET Q q 0 0 0 rg BT 517.38 353.00 Td (second ) Tj ET Q q 0 0 0 rg BT 541.50 353.00 Td (half ) Tj ET Q q 0 0 0 rg BT 555.85 353.00 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 343.40 Td (2014.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 327.80 Td (The ) Tj ET Q q 0 0 0 rg BT 63.32 327.80 Td (following ) Tj ET Q q 0 0 0 rg BT 95.81 327.80 Td (table ) Tj ET Q q 0 0 0 rg BT 112.74 327.80 Td (illustrates ) Tj ET Q q 0 0 0 rg BT 145.23 327.80 Td (the ) Tj ET Q q 0 0 0 rg BT 156.38 327.80 Td (change ) Tj ET Q q 0 0 0 rg BT 180.42 327.80 Td (in ) Tj ET Q q 0 0 0 rg BT 188.02 327.80 Td (the ) Tj ET Q q 0 0 0 rg BT 199.18 327.80 Td (average ) Tj ET Q q 0 0 0 rg BT 225.42 327.80 Td (exchange ) Tj ET Q q 0 0 0 rg BT 257.01 327.80 Td (rates ) Tj ET Q q 0 0 0 rg BT 273.49 327.80 Td (of ) Tj ET Q q 0 0 0 rg BT 281.54 327.80 Td (the ) Tj ET Q q 0 0 0 rg BT 292.69 327.80 Td (dollar ) Tj ET Q q 0 0 0 rg BT 312.74 327.80 Td (to ) Tj ET Q q 0 0 0 rg BT 320.34 327.80 Td (the ) Tj ET Q q 0 0 0 rg BT 331.50 327.80 Td (functional ) Tj ET Q q 0 0 0 rg BT 365.31 327.80 Td (currencies ) Tj ET Q q 0 0 0 rg BT 399.56 327.80 Td (of ) Tj ET Q q 0 0 0 rg BT 407.61 327.80 Td (our ) Tj ET Q q 0 0 0 rg BT 419.65 327.80 Td (operations ) Tj ET Q q 0 0 0 rg BT 454.36 327.80 Td (for ) Tj ET Q q 0 0 0 rg BT 465.07 327.80 Td (the ) Tj ET Q q 0 0 0 rg BT 476.22 327.80 Td (years ) Tj ET Q q 0 0 0 rg BT 494.48 327.80 Td (ending ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 517.64 327.80 Td (December31, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 318.20 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.50 318.20 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 69.50 318.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 318.20 Td ( ) Tj ET Q q 0 0 0 rg BT 87.50 318.20 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 101.05 318.20 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 117.05 318.20 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 277.70 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 277.70 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 277.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 277.70 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 277.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 277.70 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 247.70 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 247.70 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 247.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 247.70 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 247.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 247.70 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 217.70 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 217.70 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 217.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 217.70 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 217.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 217.70 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 359 292.70000000000005 m 424 292.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424 292.70000000000005 m 428 292.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428 292.70000000000005 m 493 292.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493 292.70000000000005 m 497 292.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497 292.70000000000005 m 562 292.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 359 292.70000000000005 m 424 292.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 359 277.70000000000005 m 424 277.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424 292.70000000000005 m 428 292.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428 292.70000000000005 m 493 292.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428 277.70000000000005 m 493 277.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493 292.70000000000005 m 497 292.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497 292.70000000000005 m 562 292.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497 277.70000000000005 m 562 277.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 359 277.70000000000005 m 424 277.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428 277.70000000000005 m 493 277.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497 277.70000000000005 m 562 277.70000000000005 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 296.95 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.75 296.93 Td (For The Year Ending December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 404.50 281.93 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 473.50 281.93 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 542.50 281.93 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 266.95 Td (Bulgarian ) Tj ET Q q 0 0 0 rg BT 86.05 266.95 Td (Lev) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.80 266.95 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.80 266.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.45 266.95 Td (\(3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 483.15 266.95 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 266.95 Td (8) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.80 266.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 251.95 Td (Croatian ) Tj ET Q q 0 0 0 rg BT 82.05 251.95 Td (Kuna) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.80 251.95 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.80 251.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.45 251.95 Td (\(2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 483.15 251.95 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 251.95 Td (9) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.80 251.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 236.95 Td (Czech ) Tj ET Q q 0 0 0 rg BT 74.49 236.95 Td (Koruna) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.80 236.95 Td (6) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.80 236.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.15 236.95 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 485.80 236.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 236.95 Td (10) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.80 236.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 221.95 Td (Euro) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.80 221.95 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.80 221.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.45 221.95 Td (\(3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 483.15 221.95 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 221.95 Td (8) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.80 221.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 206.95 Td (New ) Tj ET Q q 0 0 0 rg BT 69.61 206.95 Td (Romanian ) Tj ET Q q 0 0 0 rg BT 104.49 206.95 Td (Lei) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.80 206.95 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.80 206.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.45 206.95 Td (\(3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 483.15 206.95 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 206.95 Td (14) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.80 206.95 Td (%) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 187.60 Td (T) Tj ET Q q 0 0 0 rg BT 53.83 187.60 Td (o ) Tj ET Q q 0 0 0 rg BT 59.68 187.60 Td (the ) Tj ET Q q 0 0 0 rg BT 71.31 187.60 Td (extent ) Tj ET Q q 0 0 0 rg BT 92.71 187.60 Td (that ) Tj ET Q q 0 0 0 rg BT 106.55 187.60 Td (our ) Tj ET Q q 0 0 0 rg BT 119.07 187.60 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 158.70 187.60 Td (incur ) Tj ET Q q 0 0 0 rg BT 176.99 187.60 Td (transaction ) Tj ET Q q 0 0 0 rg BT 213.94 187.60 Td (losses ) Tj ET Q q 0 0 0 rg BT 234.90 187.60 Td (in ) Tj ET Q q 0 0 0 rg BT 242.98 187.60 Td (their ) Tj ET Q q 0 0 0 rg BT 259.49 187.60 Td (local ) Tj ET Q q 0 0 0 rg BT 276.89 187.60 Td (functional ) Tj ET Q q 0 0 0 rg BT 311.18 187.60 Td (currency ) Tj ET Q q 0 0 0 rg BT 341.01 187.60 Td (income ) Tj ET Q q 0 0 0 rg BT 366.41 187.60 Td (statement ) Tj ET Q q 0 0 0 rg BT 398.92 187.60 Td (on ) Tj ET Q q 0 0 0 rg BT 408.77 187.60 Td (the ) Tj ET Q q 0 0 0 rg BT 420.40 187.60 Td (revaluation ) Tj ET Q q 0 0 0 rg BT 458.23 187.60 Td (of ) Tj ET Q q 0 0 0 rg BT 466.75 187.60 Td (monetary ) Tj ET Q q 0 0 0 rg BT 498.81 187.60 Td (assets ) Tj ET Q q 0 0 0 rg BT 519.33 187.60 Td (and ) Tj ET Q q 0 0 0 rg BT 532.73 187.60 Td (liabilities ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 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0 rg BT 481.40 178.00 Td (our ) Tj ET Q q 0 0 0 rg BT 493.90 178.00 Td (net ) Tj ET Q q 0 0 0 rg BT 505.51 178.00 Td (investment ) Tj ET Q q 0 0 0 rg BT 542.45 178.00 Td (in ) Tj ET Q q 0 0 0 rg BT 550.50 178.00 Td (that ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 168.40 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 84.39 168.40 Td (into ) Tj ET Q q 0 0 0 rg BT 98.83 168.40 Td (dollars. ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 152.80 Td (Unr) Tj ET Q q 0 0 0 rg BT 63.13 152.80 Td (ealized ) Tj ET Q q 0 0 0 rg BT 88.70 152.80 Td (loss ) Tj ET Q q 0 0 0 rg BT 103.17 152.80 Td (on ) Tj ET Q q 0 0 0 rg BT 113.63 152.80 Td (derivative ) Tj ET Q q 0 0 0 rg BT 149.86 152.80 Td (instruments:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 193.42 152.80 Td () Tj ET Q q 0 0 0 rg BT 195.27 152.80 Td (The ) Tj ET Q q 0 0 0 rg BT 209.73 152.80 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 245.06 152.80 Td (loss ) Tj ET Q q 0 0 0 rg BT 259.53 152.80 Td (on ) Tj ET Q q 0 0 0 rg BT 269.55 152.80 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 306.66 152.80 Td (of ) Tj ET Q q 0 0 0 rg BT 315.35 152.80 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.59 152.80 Td (0.6 ) Tj ET Q q 0 0 0 rg BT 343.61 152.80 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.72 152.80 Td ( ) Tj ET Q q 0 0 0 rg BT 368.74 152.80 Td (for ) Tj ET Q q 0 0 0 rg BT 380.09 152.80 Td (the ) Tj ET Q q 0 0 0 rg BT 391.88 152.80 Td (year ) Tj ET Q q 0 0 0 rg BT 407.66 152.80 Td (ended ) Tj ET Q q 0 0 0 rg BT 428.78 152.80 Td (December ) Tj ET Q q 0 0 0 rg BT 463.67 152.80 Td (31, ) Tj ET Q q 0 0 0 rg BT 475.69 152.80 Td (2014 ) Tj ET Q q 0 0 0 rg BT 493.71 152.80 Td (is ) Tj ET Q q 0 0 0 rg BT 501.06 152.80 Td (due ) Tj ET Q q 0 0 0 rg BT 514.63 152.80 Td (to ) Tj ET Q q 0 0 0 rg BT 522.87 152.80 Td (the ) Tj ET Q q 0 0 0 rg BT 534.66 152.80 Td (ef) Tj ET Q q 0 0 0 rg BT 540.73 152.80 Td (fective ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 143.20 Td (portion ) Tj ET Q q 0 0 0 rg BT 74.61 143.20 Td (of ) Tj ET Q q 0 0 0 rg BT 83.27 143.20 Td (changes ) Tj ET Q q 0 0 0 rg BT 111.04 143.20 Td (in ) Tj ET Q q 0 0 0 rg BT 119.26 143.20 Td (the ) Tj ET Q q 0 0 0 rg BT 131.04 143.20 Td (fair ) Tj ET Q q 0 0 0 rg BT 144.14 143.20 Td (value ) Tj ET Q q 0 0 0 rg BT 163.46 143.20 Td (of ) Tj ET Q q 0 0 0 rg BT 172.13 143.20 Td (our ) Tj ET Q q 0 0 0 rg BT 184.79 143.20 Td (interest ) Tj ET Q q 0 0 0 rg BT 210.34 143.20 Td (rate ) Tj ET Q q 0 0 0 rg BT 224.32 143.20 Td (swaps ) Tj ET Q q 0 0 0 rg BT 245.88 143.20 Td (classified ) Tj ET Q q 0 0 0 rg BT 278.09 143.20 Td (as ) Tj ET Q q 0 0 0 rg BT 286.75 143.20 Td (cash ) Tj ET Q q 0 0 0 rg BT 302.97 143.20 Td (flow ) Tj ET Q q 0 0 0 rg BT 319.63 143.20 Td (hedges ) Tj ET Q q 0 0 0 rg BT 343.85 143.20 Td (and ) Tj ET Q q 0 0 0 rg BT 357.40 143.20 Td (recognized ) Tj ET Q q 0 0 0 rg BT 394.49 143.20 Td (in ) Tj ET Q q 0 0 0 rg BT 402.71 143.20 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 445.13 143.20 Td (other ) Tj ET Q q 0 0 0 rg BT 463.57 143.20 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 514.00 143.20 Td (income ) Tj ET Q q 0 0 0 rg BT 539.54 143.20 Td (/ ) Tj ET Q q 0 0 0 rg BT 543.77 143.20 Td (loss.) Tj ET Q endstream endobj 69 0 obj <>] /Rotate 0 /Contents 70 0 R>> endobj 70 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (32) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 723.50 Td (The ) Tj ET Q q 0 0 0 rg BT 63.79 723.50 Td (following ) Tj ET Q q 0 0 0 rg BT 96.75 723.50 Td (charts ) Tj ET Q q 0 0 0 rg BT 117.71 723.50 Td (depict ) Tj ET Q q 0 0 0 rg BT 139.11 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 150.73 723.50 Td (movement ) Tj ET Q q 0 0 0 rg BT 186.35 723.50 Td (of ) Tj ET Q q 0 0 0 rg BT 194.87 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 206.50 723.50 Td (dollar ) Tj ET Q q 0 0 0 rg BT 227.01 723.50 Td (versus ) Tj ET Q q 0 0 0 rg BT 249.30 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 260.93 723.50 Td (functional ) Tj ET Q q 0 0 0 rg BT 295.21 723.50 Td (currencies ) Tj ET Q q 0 0 0 rg BT 329.93 723.50 Td (of ) Tj ET Q q 0 0 0 rg BT 338.45 723.50 Td (our ) Tj ET Q q 0 0 0 rg BT 350.97 723.50 Td (operations, ) Tj ET Q q 0 0 0 rg BT 388.14 723.50 Td (based ) Tj ET Q q 0 0 0 rg BT 408.21 723.50 Td (on ) Tj ET Q q 0 0 0 rg BT 418.06 723.50 Td (monthly ) Tj ET Q q 0 0 0 rg BT 446.58 723.50 Td (closing ) Tj ET Q q 0 0 0 rg BT 471.55 723.50 Td (rates, ) Tj ET Q q 0 0 0 rg BT 490.50 723.50 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 513.24 723.50 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.24 723.50 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.09 723.50 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 549.09 723.50 Td ( ) Tj ET Q q 0 0 0 rg BT 550.95 723.50 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 713.90 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.50 713.90 Td (.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 698.30 Td (Per) Tj ET Q q 0 0 0 rg BT 60.75 698.30 Td (cent ) Tj ET Q q 0 0 0 rg BT 76.08 698.30 Td (Change ) Tj ET Q q 0 0 0 rg BT 102.96 698.30 Td (During ) Tj ET Q q 0 0 0 rg BT 128.08 698.30 Td (the ) Tj ET Q q 0 0 0 rg BT 139.85 698.30 Td (Y) Tj ET Q q 0 0 0 rg BT 143.57 698.30 Td (ear ) Tj ET Q q 0 0 0 rg BT 156.23 698.30 Td (Ended ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 178.67 698.30 Td (December31, ) Tj ET Q q 0 0 0 rg BT 225.54 698.30 Td (2014) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 241.54 698.30 Td ( ) Tj ET Q /GS0 gs q 512.00 0 0 305.00 50.00 382.30 cm /I20 Do Q BT /F1 8.00 Tf ET BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 371.70 Td (Per) Tj ET Q q 0 0 0 rg BT 60.75 371.70 Td (cent ) Tj ET Q q 0 0 0 rg BT 76.08 371.70 Td (Change ) Tj ET Q q 0 0 0 rg BT 102.96 371.70 Td (During ) Tj ET Q q 0 0 0 rg BT 128.08 371.70 Td (the ) Tj ET Q q 0 0 0 rg BT 139.85 371.70 Td (Y) Tj ET Q q 0 0 0 rg BT 143.57 371.70 Td (ear ) Tj ET Q q 0 0 0 rg BT 156.23 371.70 Td (Ended ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 178.67 371.70 Td (December31, ) Tj ET Q q 0 0 0 rg BT 225.54 371.70 Td (2013) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 241.54 371.70 Td ( ) Tj ET Q /GS0 gs q 512.00 0 0 305.00 50.00 55.70 cm /I21 Do Q BT /F1 8.00 Tf ET endstream endobj 71 0 obj <>] /Rotate 0 /Contents 72 0 R>> endobj 72 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (33) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 723.45 Td (Per) Tj ET Q q 0 0 0 rg BT 60.75 723.45 Td (cent ) Tj ET Q q 0 0 0 rg BT 76.08 723.45 Td (Change ) Tj ET Q q 0 0 0 rg BT 102.96 723.45 Td (During ) Tj ET Q q 0 0 0 rg BT 128.08 723.45 Td (the ) Tj ET Q q 0 0 0 rg BT 139.85 723.45 Td (Y) Tj ET Q q 0 0 0 rg BT 143.57 723.45 Td (ear ) Tj ET Q q 0 0 0 rg BT 156.23 723.45 Td (Ended ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 178.67 723.45 Td (December31, ) Tj ET Q q 0 0 0 rg BT 225.54 723.45 Td (2012) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 241.54 723.45 Td ( ) Tj ET Q /GS0 gs q 512.00 0 0 305.00 50.00 407.45 cm /I22 Do Q BT /F1 8.00 Tf ET BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 396.85 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 96.40 396.85 Td (balance ) Tj ET Q q 0 0 0 rg BT 124.62 396.85 Td (sheet ) Tj ET Q q 0 0 0 rg BT 143.95 396.85 Td (as ) Tj ET Q q 0 0 0 rg BT 153.06 396.85 Td (at ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 161.73 396.85 Td (December) Tj ET Q q 0 0 0 rg BT 196.23 396.85 Td (31, ) Tj ET Q q 0 0 0 rg BT 210.23 396.85 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 226.23 396.85 Td ( ) Tj ET Q q 0 0 0 rg BT 228.23 396.85 Td (and ) Tj ET Q q 0 0 0 rg BT 243.13 396.85 Td (December) Tj ET Q q 0 0 0 rg BT 277.63 396.85 Td ( ) Tj ET Q q 0 0 0 rg BT 279.63 396.85 Td (31, ) Tj ET Q BT /F2 8.00 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BT 52.50 311.60 Td (Current ) Tj ET Q q 0 0 0 rg BT 78.94 311.60 Td (liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.80 311.60 Td (450,527) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.80 311.60 Td (322,681) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 538.15 311.60 Td (39.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.80 311.60 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 296.60 Td (Non-current ) Tj ET Q q 0 0 0 rg BT 93.59 296.60 Td (liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.80 296.60 Td (667,725) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.80 296.60 Td (990,301) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 535.45 296.60 Td (\(32.6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 552.15 296.60 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 281.60 Td (T) Tj ET Q q 0 0 0 rg BT 57.11 281.60 Td (emporary ) Tj ET Q q 0 0 0 rg BT 89.48 281.60 Td (equity) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.80 281.60 Td (223,926) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.80 281.60 Td (207,890) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 542.15 281.60 Td (7.7) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.80 281.60 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 266.60 Td (CME ) Tj ET Q q 0 0 0 rg BT 71.84 266.60 Td (Ltd. ) Tj ET Q q 0 0 0 rg BT 86.95 266.60 Td (shareholders) Tj ET Q q 0 0 0 rg BT 129.74 266.60 Td ( ) Tj ET Q q 0 0 0 rg BT 131.45 266.60 Td (equity) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.80 266.60 Td (279,794) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.80 266.60 Td (440,108) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 535.45 266.60 Td (\(36.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 552.15 266.60 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 251.60 Td (Noncontrolling ) Tj ET Q q 0 0 0 rg BT 103.38 251.60 Td (interests ) Tj ET Q q 0 0 0 rg BT 132.04 251.60 Td (in ) Tj ET Q q 0 0 0 rg BT 140.27 251.60 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 182.70 251.60 Td (subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 350.10 251.60 Td (\(2,612) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.80 251.60 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.80 251.60 Td (893) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 538.40 251.60 Td (NM ) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 552.40 255.22 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 232.25 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 67.50 232.25 Td (Number ) Tj ET Q q 0 0 0 rg BT 95.71 232.25 Td (is ) Tj ET Q q 0 0 0 rg BT 103.05 232.25 Td (not ) Tj ET Q q 0 0 0 rg BT 115.27 232.25 Td (meaningful.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 216.65 Td (In ) Tj ET Q q 0 0 0 rg BT 58.74 216.65 Td (the ) Tj ET Q q 0 0 0 rg BT 71.09 216.65 Td (second ) Tj ET Q q 0 0 0 rg BT 95.89 216.65 Td (half ) Tj ET Q q 0 0 0 rg BT 110.90 216.65 Td (of ) Tj ET Q q 0 0 0 rg BT 120.14 216.65 Td (2014, ) Tj ET Q q 0 0 0 rg BT 140.72 216.65 Td (our ) Tj ET Q q 0 0 0 rg BT 153.96 216.65 Td (functional ) Tj ET Q q 0 0 0 rg BT 188.98 216.65 Td (currencies ) Tj ET Q q 0 0 0 rg BT 224.42 216.65 Td (weakened ) Tj ET Q q 0 0 0 rg BT 258.98 216.65 Td (significantly ) Tj ET Q q 0 0 0 rg BT 301.55 216.65 Td (against ) Tj ET Q q 0 0 0 rg BT 326.79 216.65 Td (the ) Tj ET Q q 0 0 0 rg BT 339.14 216.65 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 355.95 216.65 Td (dollar) Tj ET Q q 0 0 0 rg BT 374.16 216.65 Td (. ) Tj ET Q q 0 0 0 rg BT 378.74 216.65 Td (Our ) Tj ET Q q 0 0 0 rg BT 393.76 216.65 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 436.77 216.65 Td (balance ) Tj ET Q q 0 0 0 rg BT 463.78 216.65 Td (sheet ) Tj ET Q q 0 0 0 rg BT 482.79 216.65 Td (at ) Tj ET Q q 0 0 0 rg BT 491.14 216.65 Td (December ) Tj ET Q q 0 0 0 rg BT 526.59 216.65 Td (31,2014 ) Tj ET Q q 0 0 0 rg BT 557.17 216.65 Td (is ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 207.05 Td (impacted ) Tj ET Q q 0 0 0 rg BT 80.49 207.05 Td (as ) Tj ET Q q 0 0 0 rg BT 88.82 207.05 Td (a ) Tj ET Q q 0 0 0 rg BT 94.04 207.05 Td (result. ) Tj ET Q q 0 0 0 rg BT 115.36 207.05 Td (The ) Tj ET Q q 0 0 0 rg BT 129.47 207.05 Td (analysis ) Tj ET Q q 0 0 0 rg BT 156.91 207.05 Td (below ) Tj ET Q q 0 0 0 rg BT 178.13 207.05 Td (is ) Tj ET Q q 0 0 0 rg BT 185.13 207.05 Td (intended ) Tj ET Q q 0 0 0 rg BT 214.34 207.05 Td (to ) Tj ET Q q 0 0 0 rg BT 222.23 207.05 Td (highlight ) Tj ET Q q 0 0 0 rg BT 252.79 207.05 Td (the ) Tj ET Q q 0 0 0 rg BT 264.23 207.05 Td (key ) Tj ET Q q 0 0 0 rg BT 277.45 207.05 Td (business ) Tj ET Q q 0 0 0 rg BT 306.23 207.05 Td (factors ) Tj ET Q q 0 0 0 rg BT 329.67 207.05 Td (that ) Tj ET Q q 0 0 0 rg BT 343.33 207.05 Td (led ) Tj ET Q q 0 0 0 rg BT 354.77 207.05 Td (to ) Tj ET Q q 0 0 0 rg BT 362.66 207.05 Td (the ) Tj ET Q q 0 0 0 rg BT 374.11 207.05 Td (movements ) Tj ET Q q 0 0 0 rg BT 412.66 207.05 Td (from ) Tj ET Q q 0 0 0 rg BT 429.88 207.05 Td (December ) Tj ET Q q 0 0 0 rg BT 464.41 207.05 Td (31,2013, ) Tj ET Q q 0 0 0 rg BT 496.08 207.05 Td (excluding ) Tj ET Q q 0 0 0 rg BT 529.29 207.05 Td (the ) Tj ET Q q 0 0 0 rg BT 540.73 207.05 Td (impact ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 197.45 Td (of ) Tj ET Q q 0 0 0 rg BT 58.16 197.45 Td (foreign ) Tj ET Q q 0 0 0 rg BT 83.27 197.45 Td (currency ) Tj ET Q q 0 0 0 rg BT 113.25 197.45 Td (translation.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 181.85 Td (Curr) Tj ET Q q 0 0 0 rg BT 66.68 181.85 Td (ent ) Tj ET Q q 0 0 0 rg BT 78.77 181.85 Td (assets:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 100.99 181.85 Td (Current ) Tj ET Q q 0 0 0 rg BT 128.85 181.85 Td (assets ) Tj ET Q q 0 0 0 rg BT 148.94 181.85 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 156.13 181.85 Td (December31, ) Tj ET Q q 0 0 0 rg BT 202.42 181.85 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 218.42 181.85 Td ( ) Tj ET Q q 0 0 0 rg BT 219.85 181.85 Td (decreased ) Tj ET Q q 0 0 0 rg BT 252.80 181.85 Td (by ) Tj ET Q q 0 0 0 rg BT 262.22 181.85 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.87 181.85 Td (152.4 ) Tj ET Q q 0 0 0 rg BT 297.29 181.85 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 320.41 181.85 Td ( ) Tj ET Q q 0 0 0 rg BT 321.83 181.85 Td (compared ) Tj ET Q q 0 0 0 rg BT 354.79 181.85 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.44 181.85 Td (December31, ) Tj ET Q q 0 0 0 rg BT 408.73 181.85 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 424.73 181.85 Td (, ) Tj ET Q q 0 0 0 rg BT 428.15 181.85 Td (primarily ) Tj ET Q q 0 0 0 rg BT 459.34 181.85 Td (as ) Tj ET Q q 0 0 0 rg BT 467.43 181.85 Td (a ) Tj ET Q q 0 0 0 rg BT 472.40 181.85 Td (result ) Tj ET Q q 0 0 0 rg BT 491.60 181.85 Td (of ) Tj ET Q q 0 0 0 rg BT 499.69 181.85 Td (lower ) Tj ET Q q 0 0 0 rg BT 519.33 181.85 Td (cash ) Tj ET Q q 0 0 0 rg BT 534.96 181.85 Td (balances ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 172.25 Td (following ) Tj ET Q q 0 0 0 rg BT 82.92 172.25 Td (payments ) Tj ET Q q 0 0 0 rg BT 115.89 172.25 Td (made ) Tj ET Q q 0 0 0 rg BT 135.53 172.25 Td (to ) Tj ET Q q 0 0 0 rg BT 144.06 172.25 Td (suppliers ) Tj ET Q q 0 0 0 rg BT 175.26 172.25 Td (of ) Tj ET Q q 0 0 0 rg BT 184.24 172.25 Td (programming ) Tj ET Q q 0 0 0 rg BT 230.09 172.25 Td (content. ) Tj ET Q q 0 0 0 rg BT 257.79 172.25 Td (The ) Tj ET Q q 0 0 0 rg BT 272.54 172.25 Td (decrease ) Tj ET Q q 0 0 0 rg BT 302.38 172.25 Td (is ) Tj ET Q q 0 0 0 rg BT 310.03 172.25 Td (furthered ) Tj ET Q q 0 0 0 rg BT 341.65 172.25 Td (by ) Tj ET Q q 0 0 0 rg BT 351.96 172.25 Td (a ) Tj ET Q q 0 0 0 rg BT 357.83 172.25 Td (reduction ) Tj ET Q q 0 0 0 rg BT 390.35 172.25 Td (in ) Tj ET Q q 0 0 0 rg BT 398.88 172.25 Td (the ) Tj ET Q q 0 0 0 rg BT 410.97 172.25 Td (value ) Tj ET Q q 0 0 0 rg BT 430.60 172.25 Td (of ) Tj ET Q q 0 0 0 rg BT 439.58 172.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 460.56 172.25 Td (held ) Tj ET Q q 0 0 0 rg BT 476.64 172.25 Td (for ) Tj ET Q q 0 0 0 rg BT 488.28 172.25 Td (sale, ) Tj ET Q q 0 0 0 rg BT 505.03 172.25 Td (which ) Tj ET Q q 0 0 0 rg BT 526.89 172.25 Td (reflects ) Tj ET Q q 0 0 0 rg BT 552.74 172.25 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 162.65 Td (sales ) Tj ET Q q 0 0 0 rg BT 67.05 162.65 Td (of ) Tj ET Q q 0 0 0 rg BT 75.71 162.65 Td (certain ) Tj ET Q q 0 0 0 rg BT 99.48 162.65 Td (non-core ) Tj ET Q q 0 0 0 rg BT 129.91 162.65 Td (businesses ) Tj ET Q q 0 0 0 rg BT 165.68 162.65 Td (in ) Tj ET Q q 0 0 0 rg BT 173.91 162.65 Td (2014 ) Tj ET Q q 0 0 0 rg BT 191.91 162.65 Td (and ) Tj ET Q q 0 0 0 rg BT 205.46 162.65 Td (the ) Tj ET Q q 0 0 0 rg BT 217.23 162.65 Td (estimated ) Tj ET Q q 0 0 0 rg BT 249.89 162.65 Td (loss ) Tj ET Q q 0 0 0 rg BT 264.34 162.65 Td (on ) Tj ET Q q 0 0 0 rg BT 274.34 162.65 Td (sale ) Tj ET Q q 0 0 0 rg BT 288.77 162.65 Td (of ) Tj ET Q q 0 0 0 rg BT 297.44 162.65 Td (certain ) Tj ET Q q 0 0 0 rg BT 321.20 162.65 Td (businesses ) Tj ET Q q 0 0 0 rg BT 356.98 162.65 Td (expected ) Tj ET Q q 0 0 0 rg BT 387.40 162.65 Td (to ) Tj ET Q q 0 0 0 rg BT 395.63 162.65 Td (be ) Tj ET Q q 0 0 0 rg BT 405.18 162.65 Td (completed ) Tj ET Q q 0 0 0 rg BT 440.50 162.65 Td (in ) Tj ET Q q 0 0 0 rg BT 448.72 162.65 Td (early ) Tj ET Q q 0 0 0 rg BT 466.71 162.65 Td (2015.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 147.05 Td (Non-curr) Tj ET Q q 0 0 0 rg BT 81.35 147.05 Td (ent ) Tj ET Q q 0 0 0 rg BT 94.04 147.05 Td (assets:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 116.26 147.05 Td (Non-current ) Tj ET Q q 0 0 0 rg BT 159.39 147.05 Td (assets ) Tj ET Q q 0 0 0 rg BT 180.08 147.05 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 187.89 147.05 Td (December31, ) Tj ET Q q 0 0 0 rg BT 234.79 147.05 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 250.79 147.05 Td ( ) Tj ET Q q 0 0 0 rg BT 252.82 147.05 Td (decreased ) Tj ET Q q 0 0 0 rg BT 286.38 147.05 Td (by ) Tj ET Q q 0 0 0 rg BT 296.41 147.05 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.67 147.05 Td (190.1 ) Tj ET Q q 0 0 0 rg BT 332.70 147.05 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 355.81 147.05 Td ( ) Tj ET Q q 0 0 0 rg BT 357.84 147.05 Td (compared ) Tj ET Q q 0 0 0 rg BT 391.41 147.05 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.67 147.05 Td (December31, ) Tj ET Q q 0 0 0 rg BT 446.57 147.05 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.57 147.05 Td (, ) Tj ET Q q 0 0 0 rg BT 466.60 147.05 Td (primarily ) Tj ET Q q 0 0 0 rg BT 498.40 147.05 Td (due ) Tj ET Q q 0 0 0 rg BT 511.98 147.05 Td (to ) Tj ET Q q 0 0 0 rg BT 520.23 147.05 Td (the ) Tj ET Q q 0 0 0 rg BT 532.04 147.05 Td (impact ) Tj ET Q q 0 0 0 rg BT 555.84 147.05 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 137.45 Td (the ) Tj ET Q q 0 0 0 rg BT 61.98 137.45 Td (stronger ) Tj ET Q q 0 0 0 rg BT 90.91 137.45 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 107.84 137.45 Td (dollar ) Tj ET Q q 0 0 0 rg BT 129.21 137.45 Td (on ) Tj ET Q q 0 0 0 rg BT 139.92 137.45 Td (our ) Tj ET Q q 0 0 0 rg BT 153.29 137.45 Td (foreign ) Tj ET Q q 0 0 0 rg BT 179.10 137.45 Td (currency ) Tj ET Q q 0 0 0 rg BT 209.79 137.45 Td (denominated ) Tj ET Q q 0 0 0 rg BT 253.82 137.45 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 284.98 137.45 Td (and ) Tj ET Q q 0 0 0 rg BT 299.24 137.45 Td (intangible ) Tj ET Q q 0 0 0 rg BT 333.94 137.45 Td (assets ) Tj ET Q q 0 0 0 rg BT 355.31 137.45 Td (as ) Tj ET Q q 0 0 0 rg BT 364.68 137.45 Td (well ) Tj ET Q q 0 0 0 rg BT 381.17 137.45 Td (as ) Tj ET Q q 0 0 0 rg BT 390.54 137.45 Td (lower ) Tj ET Q q 0 0 0 rg BT 411.46 137.45 Td (acquired ) Tj ET Q q 0 0 0 rg BT 441.71 137.45 Td (program ) Tj ET Q q 0 0 0 rg BT 471.52 137.45 Td (rights, ) Tj ET Q q 0 0 0 rg BT 494.45 137.45 Td (and ) Tj ET Q q 0 0 0 rg BT 508.71 137.45 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 550.96 137.45 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 127.85 Td (amortization ) Tj ET Q q 0 0 0 rg BT 91.18 127.85 Td (expense. ) Tj ET Q q 0 0 0 rg BT 120.10 127.85 Td (These ) Tj ET Q q 0 0 0 rg BT 140.45 127.85 Td (decreases ) Tj ET Q q 0 0 0 rg BT 172.34 127.85 Td (were ) Tj ET Q q 0 0 0 rg BT 189.13 127.85 Td (partially ) Tj ET Q q 0 0 0 rg BT 217.03 127.85 Td (of) Tj ET Q q 0 0 0 rg BT 223.55 127.85 Td (fset ) Tj ET Q q 0 0 0 rg BT 236.35 127.85 Td (by ) Tj ET Q q 0 0 0 rg BT 245.60 127.85 Td (increased ) Tj ET Q q 0 0 0 rg BT 277.05 127.85 Td (non-cash ) Tj ET Q q 0 0 0 rg BT 307.17 127.85 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 343.06 127.85 Td (debt ) Tj ET Q q 0 0 0 rg BT 358.09 127.85 Td (costs ) Tj ET Q q 0 0 0 rg BT 375.33 127.85 Td (due ) Tj ET Q q 0 0 0 rg BT 388.13 127.85 Td (to ) Tj ET Q q 0 0 0 rg BT 395.60 127.85 Td (our ) Tj ET Q q 0 0 0 rg BT 407.51 127.85 Td (issuance ) Tj ET Q q 0 0 0 rg BT 435.86 127.85 Td (of ) Tj ET Q q 0 0 0 rg BT 443.77 127.85 Td (common ) Tj ET Q q 0 0 0 rg BT 473.01 127.85 Td (stock ) Tj ET Q q 0 0 0 rg BT 491.15 127.85 Td (warrants ) Tj ET Q q 0 0 0 rg BT 519.94 127.85 Td (in ) Tj ET Q q 0 0 0 rg BT 527.41 127.85 Td (connection ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 118.25 Td (with ) Tj ET Q q 0 0 0 rg BT 65.72 118.25 Td (the ) Tj ET Q q 0 0 0 rg BT 77.50 118.25 Td (Rights ) Tj ET Q q 0 0 0 rg BT 100.39 118.25 Td (Of) Tj ET Q q 0 0 0 rg BT 108.69 118.25 Td (fering ) Tj ET Q q 0 0 0 rg BT 129.79 118.25 Td (and ) Tj ET Q q 0 0 0 rg BT 143.34 118.25 Td (related ) Tj ET Q q 0 0 0 rg BT 167.10 118.25 Td (financing ) Tj ET Q q 0 0 0 rg BT 199.31 118.25 Td (transactions.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 102.65 Td (Curr) Tj ET Q q 0 0 0 rg BT 66.68 102.65 Td (ent ) Tj ET Q q 0 0 0 rg BT 80.36 102.65 Td (liabilities:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 114.13 102.65 Td (Current ) Tj ET Q q 0 0 0 rg BT 143.58 102.65 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 176.36 102.65 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 185.14 102.65 Td (December31, ) Tj ET Q q 0 0 0 rg BT 233.02 102.65 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 249.02 102.65 Td ( ) Tj ET Q q 0 0 0 rg BT 252.02 102.65 Td (increased ) Tj ET Q q 0 0 0 rg BT 285.23 102.65 Td (by ) Tj ET Q q 0 0 0 rg BT 296.24 102.65 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.48 102.65 Td (127.8 ) Tj ET Q q 0 0 0 rg BT 334.48 102.65 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.60 102.65 Td ( ) Tj ET Q q 0 0 0 rg BT 360.61 102.65 Td (compared ) Tj ET Q q 0 0 0 rg BT 395.15 102.65 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.38 102.65 Td (December31, ) Tj ET Q q 0 0 0 rg BT 452.26 102.65 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.26 102.65 Td (, ) Tj ET Q q 0 0 0 rg BT 473.27 102.65 Td (primarily ) Tj ET Q q 0 0 0 rg BT 506.04 102.65 Td (as ) Tj ET Q q 0 0 0 rg BT 515.71 102.65 Td (a ) Tj ET Q q 0 0 0 rg BT 522.27 102.65 Td (result ) Tj ET Q q 0 0 0 rg BT 543.05 102.65 Td (of ) Tj ET Q q 0 0 0 rg BT 552.73 102.65 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 93.05 Td (classification ) Tj ET Q q 0 0 0 rg BT 93.60 93.05 Td (of ) Tj ET Q q 0 0 0 rg BT 102.16 93.05 Td (the ) Tj ET Q q 0 0 0 rg BT 113.83 93.05 Td (2015 ) Tj ET Q q 0 0 0 rg BT 131.73 93.05 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 171.39 93.05 Td (Notes ) Tj ET Q q 0 0 0 rg BT 191.95 93.05 Td (as ) Tj ET Q q 0 0 0 rg BT 200.51 93.05 Td (current ) Tj ET Q q 0 0 0 rg BT 225.06 93.05 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 256.73 93.05 Td (at ) Tj ET Q q 0 0 0 rg BT 264.40 93.05 Td (December ) Tj ET Q q 0 0 0 rg BT 299.16 93.05 Td (31, ) Tj ET Q q 0 0 0 rg BT 311.05 93.05 Td (2014, ) Tj ET Q q 0 0 0 rg BT 330.95 93.05 Td (which ) Tj ET Q q 0 0 0 rg BT 352.40 93.05 Td (we ) Tj ET Q q 0 0 0 rg BT 363.62 93.05 Td (intend ) Tj ET Q q 0 0 0 rg BT 385.51 93.05 Td (to ) Tj ET Q q 0 0 0 rg BT 393.63 93.05 Td (repay ) Tj ET Q q 0 0 0 rg BT 413.29 93.05 Td (with ) Tj ET Q q 0 0 0 rg BT 429.41 93.05 Td (the ) Tj ET Q q 0 0 0 rg BT 441.08 93.05 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 471.40 93.05 Td (from ) Tj ET Q q 0 0 0 rg BT 488.85 93.05 Td (a ) Tj ET Q q 0 0 0 rg BT 494.30 93.05 Td (loan ) Tj ET Q q 0 0 0 rg BT 509.96 93.05 Td (facility ) Tj ET Q q 0 0 0 rg BT 534.52 93.05 Td (arranged ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 83.45 Td (with ) Tj ET Q q 0 0 0 rg BT 65.49 83.45 Td (the ) Tj ET Q q 0 0 0 rg BT 77.03 83.45 Td (assistance ) Tj ET Q q 0 0 0 rg BT 110.78 83.45 Td (of ) Tj ET Q q 0 0 0 rg BT 119.21 83.45 Td (or ) Tj ET Q q 0 0 0 rg BT 127.64 83.45 Td (provided ) Tj ET Q q 0 0 0 rg BT 157.84 83.45 Td (by ) Tj ET Q q 0 0 0 rg BT 167.48 83.45 Td (T) Tj ET Q q 0 0 0 rg BT 172.09 83.45 Td (ime ) Tj ET Q q 0 0 0 rg BT 185.72 83.45 Td (W) Tj ET Q q 0 0 0 rg BT 192.63 83.45 Td (arner ) Tj ET Q q 0 0 0 rg BT 210.83 83.45 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 240.14 83.45 Td (to ) Tj ET Q q 0 0 0 rg BT 248.13 83.45 Td (the ) Tj ET Q q 0 0 0 rg BT 259.67 83.45 Td (2015 ) Tj ET Q q 0 0 0 rg BT 277.44 83.45 Td (Refinancing ) Tj ET Q q 0 0 0 rg BT 318.30 83.45 Td (Commitment ) Tj ET Q q 0 0 0 rg BT 362.29 83.45 Td (Letter) Tj ET Q q 0 0 0 rg BT 380.94 83.45 Td (. ) Tj ET Q q 0 0 0 rg BT 384.58 83.45 Td (The ) Tj ET Q q 0 0 0 rg BT 398.79 83.45 Td (increase ) Tj ET Q q 0 0 0 rg BT 426.75 83.45 Td (was ) Tj ET Q q 0 0 0 rg BT 440.96 83.45 Td (partially ) Tj ET Q q 0 0 0 rg BT 469.38 83.45 Td (of) Tj ET Q q 0 0 0 rg BT 475.90 83.45 Td (fset ) Tj ET Q q 0 0 0 rg BT 489.22 83.45 Td (by ) Tj ET Q q 0 0 0 rg BT 498.98 83.45 Td (lower ) Tj ET Q q 0 0 0 rg BT 518.97 83.45 Td (programming ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 73.85 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 81.27 73.85 Td (as ) Tj ET Q q 0 0 0 rg BT 89.94 73.85 Td (a ) Tj ET Q q 0 0 0 rg BT 95.49 73.85 Td (result ) Tj ET Q q 0 0 0 rg BT 115.26 73.85 Td (of ) Tj ET Q q 0 0 0 rg BT 123.93 73.85 Td (payments ) Tj ET Q q 0 0 0 rg BT 156.59 73.85 Td (made ) Tj ET Q q 0 0 0 rg BT 175.91 73.85 Td (to ) Tj ET Q q 0 0 0 rg BT 184.13 73.85 Td (programming ) Tj ET Q q 0 0 0 rg BT 229.68 73.85 Td (content ) Tj ET Q q 0 0 0 rg BT 255.23 73.85 Td (providers. ) Tj ET Q endstream endobj 73 0 obj <>] /Rotate 0 /Contents 74 0 R>> endobj 74 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (34) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 723.60 Td (Non-curr) Tj ET Q q 0 0 0 rg BT 81.35 723.60 Td (ent ) Tj ET Q q 0 0 0 rg BT 94.59 723.60 Td (liabilities:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 128.37 723.60 Td (Non-current ) Tj ET Q q 0 0 0 rg BT 172.04 723.60 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 204.39 723.60 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 212.74 723.60 Td (December31, ) Tj ET Q q 0 0 0 rg BT 260.18 723.60 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 276.18 723.60 Td ( ) Tj ET Q q 0 0 0 rg BT 278.76 723.60 Td (decreased ) Tj ET Q q 0 0 0 rg BT 312.87 723.60 Td (by ) Tj ET Q q 0 0 0 rg BT 323.45 723.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.25 723.60 Td (322.6 ) Tj ET Q q 0 0 0 rg BT 360.83 723.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 383.94 723.60 Td ( ) Tj ET Q q 0 0 0 rg BT 386.52 723.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 420.63 723.60 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.43 723.60 Td (December31, ) Tj ET Q q 0 0 0 rg BT 476.88 723.60 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.88 723.60 Td (, ) Tj ET Q q 0 0 0 rg BT 497.45 723.60 Td (primarily ) Tj ET Q q 0 0 0 rg BT 529.80 723.60 Td (due ) Tj ET Q q 0 0 0 rg BT 543.93 723.60 Td (to ) Tj ET Q q 0 0 0 rg BT 552.73 723.60 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 714.00 Td (classification ) Tj ET Q q 0 0 0 rg BT 93.11 714.00 Td (of ) Tj ET Q q 0 0 0 rg BT 101.18 714.00 Td (the ) Tj ET Q q 0 0 0 rg BT 112.35 714.00 Td (2015 ) Tj ET Q q 0 0 0 rg BT 129.75 714.00 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 168.93 714.00 Td (Notes ) Tj ET Q q 0 0 0 rg BT 188.99 714.00 Td (as ) Tj ET Q q 0 0 0 rg BT 197.06 714.00 Td (current ) Tj ET Q q 0 0 0 rg BT 221.11 714.00 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 252.29 714.00 Td (as ) Tj ET Q q 0 0 0 rg BT 260.36 714.00 Td (well ) Tj ET Q q 0 0 0 rg BT 275.53 714.00 Td (as ) Tj ET Q q 0 0 0 rg BT 283.60 714.00 Td (lower ) Tj ET Q q 0 0 0 rg BT 303.21 714.00 Td (carrying ) Tj ET Q q 0 0 0 rg BT 331.27 714.00 Td (values ) Tj ET Q q 0 0 0 rg BT 353.11 714.00 Td (of ) Tj ET Q q 0 0 0 rg BT 361.18 714.00 Td (our ) Tj ET Q q 0 0 0 rg BT 373.24 714.00 Td (Senior ) Tj ET Q q 0 0 0 rg BT 395.53 714.00 Td (Debt ) Tj ET Q q 0 0 0 rg BT 412.48 714.00 Td (following ) Tj ET Q q 0 0 0 rg BT 445.00 714.00 Td (the ) Tj ET Q q 0 0 0 rg BT 456.17 714.00 Td (completion ) Tj ET Q q 0 0 0 rg BT 493.57 714.00 Td (of ) Tj ET Q q 0 0 0 rg BT 501.63 714.00 Td (the ) Tj ET Q q 0 0 0 rg BT 512.81 714.00 Td (Rights ) Tj ET Q q 0 0 0 rg BT 535.11 714.00 Td (Of) Tj ET Q q 0 0 0 rg BT 543.40 714.00 Td (fering ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 704.40 Td (and ) Tj ET Q q 0 0 0 rg BT 63.26 704.40 Td (related ) Tj ET Q q 0 0 0 rg BT 87.24 704.40 Td (financing ) Tj ET Q q 0 0 0 rg BT 119.67 704.40 Td (transactions. ) Tj ET Q q 0 0 0 rg BT 161.93 704.40 Td (The ) Tj ET Q q 0 0 0 rg BT 176.58 704.40 Td (decrease ) Tj ET Q q 0 0 0 rg BT 206.33 704.40 Td (is ) Tj ET Q q 0 0 0 rg BT 213.88 704.40 Td (partly ) Tj ET Q q 0 0 0 rg BT 234.75 704.40 Td (of) Tj ET Q q 0 0 0 rg BT 241.27 704.40 Td (fset ) Tj ET Q q 0 0 0 rg BT 255.03 704.40 Td (by ) Tj ET Q q 0 0 0 rg BT 265.25 704.40 Td (accrued ) Tj ET Q q 0 0 0 rg BT 292.33 704.40 Td (interest ) Tj ET Q q 0 0 0 rg BT 318.09 704.40 Td (on ) Tj ET Q q 0 0 0 rg BT 328.30 704.40 Td (the ) Tj ET Q q 0 0 0 rg BT 340.29 704.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 358.50 704.40 Td (PIK ) Tj ET Q q 0 0 0 rg BT 373.61 704.40 Td (Notes ) Tj ET Q q 0 0 0 rg BT 394.49 704.40 Td (and ) Tj ET Q q 0 0 0 rg BT 408.25 704.40 Td (the ) Tj ET Q q 0 0 0 rg BT 420.24 704.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 438.29 704.40 Td (T) Tj ET Q q 0 0 0 rg BT 442.62 704.40 Td (erm ) Tj ET Q q 0 0 0 rg BT 457.27 704.40 Td (Loan ) Tj ET Q q 0 0 0 rg BT 475.92 704.40 Td (which ) Tj ET Q q 0 0 0 rg BT 497.69 704.40 Td (we ) Tj ET Q q 0 0 0 rg BT 509.23 704.40 Td (elected ) Tj ET Q q 0 0 0 rg BT 534.09 704.40 Td (to ) Tj ET Q q 0 0 0 rg BT 542.53 704.40 Td (pay ) Tj ET Q q 0 0 0 rg BT 556.29 704.40 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 694.80 Td (kind ) Tj ET Q q 0 0 0 rg BT 65.72 694.80 Td (by ) Tj ET Q q 0 0 0 rg BT 75.72 694.80 Td (adding ) Tj ET Q q 0 0 0 rg BT 99.50 694.80 Td (such ) Tj ET Q q 0 0 0 rg BT 116.16 694.80 Td (amount ) Tj ET Q q 0 0 0 rg BT 142.16 694.80 Td (to ) Tj ET Q q 0 0 0 rg BT 150.38 694.80 Td (the ) Tj ET Q q 0 0 0 rg BT 162.15 694.80 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 201.48 694.80 Td (principal ) Tj ET Q q 0 0 0 rg BT 231.92 694.80 Td (amount ) Tj ET Q q 0 0 0 rg BT 257.91 694.80 Td (\(see ) Tj ET Q q 0 0 0 rg BT 272.79 694.80 Td (Item ) Tj ET Q q 0 0 0 rg BT 289.45 694.80 Td (8, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 297.45 694.80 Td (Note ) Tj ET Q q 0 0 0 rg BT 315.00 694.80 Td (5, ) Tj ET Q q 0 0 0 rg BT 323.00 694.80 Td ("Long-term ) Tj ET Q q 0 0 0 rg BT 362.48 694.80 Td (Debt ) Tj ET Q q 0 0 0 rg BT 380.03 694.80 Td (and ) Tj ET Q q 0 0 0 rg BT 393.58 694.80 Td (Other ) Tj ET Q q 0 0 0 rg BT 413.80 694.80 Td (Financing ) Tj ET Q q 0 0 0 rg BT 447.35 694.80 Td (Arrangements") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.93 694.80 Td (\).) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 680.20 Td (T) Tj ET Q q 0 0 0 rg BT 54.10 680.20 Td (emporary ) Tj ET Q q 0 0 0 rg BT 89.99 680.20 Td (equity:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 113.99 680.20 Td () Tj ET Q q 0 0 0 rg BT 115.85 680.20 Td (T) Tj ET Q q 0 0 0 rg BT 120.18 680.20 Td (emporary ) Tj ET Q q 0 0 0 rg BT 152.96 680.20 Td (equity ) Tj ET Q q 0 0 0 rg BT 175.08 680.20 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.98 680.20 Td (December31, ) Tj ET Q q 0 0 0 rg BT 229.97 680.20 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.97 680.20 Td ( ) Tj ET Q q 0 0 0 rg BT 248.10 680.20 Td (and ) Tj ET Q q 0 0 0 rg BT 261.78 680.20 Td (2013 ) Tj ET Q q 0 0 0 rg BT 279.91 680.20 Td (was ) Tj ET Q q 0 0 0 rg BT 294.47 680.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 310.83 680.20 Td (223.9 ) Tj ET Q q 0 0 0 rg BT 330.96 680.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.07 680.20 Td ( ) Tj ET Q q 0 0 0 rg BT 356.20 680.20 Td (and ) Tj ET Q q 0 0 0 rg BT 369.87 680.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.23 680.20 Td (207.9million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.34 680.20 Td (, ) Tj ET Q q 0 0 0 rg BT 433.47 680.20 Td (respectively) Tj ET Q q 0 0 0 rg BT 471.60 680.20 Td (, ) Tj ET Q q 0 0 0 rg BT 475.72 680.20 Td (and ) Tj ET Q q 0 0 0 rg BT 489.40 680.20 Td (represents ) Tj ET Q q 0 0 0 rg BT 523.96 680.20 Td (the ) Tj ET Q q 0 0 0 rg BT 535.86 680.20 Td (accreted ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 670.60 Td (value ) Tj ET Q q 0 0 0 rg BT 68.82 670.60 Td (of ) Tj ET Q q 0 0 0 rg BT 77.49 670.60 Td (the ) Tj ET Q q 0 0 0 rg BT 89.26 670.60 Td (Series ) Tj ET Q q 0 0 0 rg BT 110.81 670.60 Td (B ) Tj ET Q q 0 0 0 rg BT 118.15 670.60 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 149.91 670.60 Td (Shares ) Tj ET Q q 0 0 0 rg BT 173.23 670.60 Td (issued ) Tj ET Q q 0 0 0 rg BT 195.23 670.60 Td (to ) Tj ET Q q 0 0 0 rg BT 203.31 670.60 Td (TW) Tj ET Q q 0 0 0 rg BT 215.61 670.60 Td ( ) Tj ET Q q 0 0 0 rg BT 217.61 670.60 Td (Investor ) Tj ET Q q 0 0 0 rg BT 245.82 670.60 Td (on ) Tj ET Q q 0 0 0 rg BT 255.82 670.60 Td (June ) Tj ET Q q 0 0 0 rg BT 272.48 670.60 Td (25, ) Tj ET Q q 0 0 0 rg BT 284.48 670.60 Td (2013.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 655.00 Td (CME ) Tj ET Q q 0 0 0 rg BT 70.05 655.00 Td (Ltd. ) Tj ET Q q 0 0 0 rg BT 86.39 655.00 Td (shar) Tj ET Q q 0 0 0 rg BT 101.36 655.00 Td (eholders) Tj ET Q q 0 0 0 rg BT 132.31 655.00 Td ( ) Tj ET Q q 0 0 0 rg BT 134.20 655.00 Td (equity:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 158.20 655.00 Td ( ) Tj ET Q q 0 0 0 rg BT 160.09 655.00 Td (CME ) Tj ET Q q 0 0 0 rg BT 179.31 655.00 Td (Ltd. ) Tj ET Q q 0 0 0 rg BT 194.31 655.00 Td (shareholders) Tj ET Q q 0 0 0 rg BT 236.81 655.00 Td ( ) Tj ET Q q 0 0 0 rg BT 238.70 655.00 Td (equity ) Tj ET Q q 0 0 0 rg BT 260.58 655.00 Td (decreased ) Tj ET Q q 0 0 0 rg BT 294.00 655.00 Td (by ) Tj ET Q q 0 0 0 rg BT 303.89 655.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 320.00 655.00 Td (160.3 ) Tj ET Q q 0 0 0 rg BT 339.89 655.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 363.00 655.00 Td ( ) Tj ET Q q 0 0 0 rg BT 364.89 655.00 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.00 655.00 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.00 655.00 Td (, ) Tj ET Q q 0 0 0 rg BT 392.89 655.00 Td (primarily ) Tj ET Q q 0 0 0 rg BT 424.55 655.00 Td (due ) Tj ET Q q 0 0 0 rg BT 437.99 655.00 Td (to ) Tj ET Q q 0 0 0 rg BT 446.10 655.00 Td (the ) Tj ET Q q 0 0 0 rg BT 457.76 655.00 Td (net ) Tj ET Q q 0 0 0 rg BT 469.42 655.00 Td (loss ) Tj ET Q q 0 0 0 rg BT 483.75 655.00 Td (attributable ) Tj ET Q q 0 0 0 rg BT 522.07 655.00 Td (to ) Tj ET Q q 0 0 0 rg BT 530.18 655.00 Td (CME ) Tj ET Q q 0 0 0 rg BT 549.41 655.00 Td (Ltd. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 645.40 Td (of ) Tj ET Q q 0 0 0 rg BT 58.78 645.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 75.63 645.40 Td (227.4 ) Tj ET Q q 0 0 0 rg BT 96.25 645.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 119.36 645.40 Td (. ) Tj ET Q q 0 0 0 rg BT 123.79 645.40 Td (The ) Tj ET Q q 0 0 0 rg BT 138.84 645.40 Td (decrease ) Tj ET Q q 0 0 0 rg BT 168.99 645.40 Td (was ) Tj ET Q q 0 0 0 rg BT 184.05 645.40 Td (furthered ) Tj ET Q q 0 0 0 rg BT 215.99 645.40 Td (by ) Tj ET Q q 0 0 0 rg BT 226.60 645.40 Td (an ) Tj ET Q q 0 0 0 rg BT 236.77 645.40 Td (increase ) Tj ET Q q 0 0 0 rg BT 265.60 645.40 Td (in ) Tj ET Q q 0 0 0 rg BT 274.44 645.40 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 317.48 645.40 Td (other ) Tj ET Q q 0 0 0 rg BT 336.53 645.40 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 387.58 645.40 Td (loss ) Tj ET Q q 0 0 0 rg BT 402.64 645.40 Td (of ) Tj ET Q q 0 0 0 rg BT 411.93 645.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.77 645.40 Td (157.2 ) Tj ET Q q 0 0 0 rg BT 449.39 645.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.50 645.40 Td ( ) Tj ET Q q 0 0 0 rg BT 475.12 645.40 Td (due ) Tj ET Q q 0 0 0 rg BT 489.29 645.40 Td (to ) Tj ET Q q 0 0 0 rg BT 498.13 645.40 Td (currency ) Tj ET Q q 0 0 0 rg BT 528.73 645.40 Td (translation ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 635.80 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 89.86 635.80 Td (and ) Tj ET Q q 0 0 0 rg BT 103.55 635.80 Td (by ) Tj ET Q q 0 0 0 rg BT 113.69 635.80 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.05 635.80 Td (16.0 ) Tj ET Q q 0 0 0 rg BT 146.19 635.80 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 169.30 635.80 Td ( ) Tj ET Q q 0 0 0 rg BT 171.44 635.80 Td (of ) Tj ET Q q 0 0 0 rg BT 180.24 635.80 Td (accretion ) Tj ET Q q 0 0 0 rg BT 211.70 635.80 Td (of ) Tj ET Q q 0 0 0 rg BT 220.50 635.80 Td (the ) Tj ET Q q 0 0 0 rg BT 232.41 635.80 Td (preferred ) Tj ET Q q 0 0 0 rg BT 263.86 635.80 Td (dividend ) Tj ET Q q 0 0 0 rg BT 293.99 635.80 Td (paid ) Tj ET Q q 0 0 0 rg BT 309.90 635.80 Td (in ) Tj ET Q q 0 0 0 rg BT 318.27 635.80 Td (kind ) Tj ET Q q 0 0 0 rg BT 334.63 635.80 Td (on ) Tj ET Q q 0 0 0 rg BT 344.77 635.80 Td (our ) Tj ET Q q 0 0 0 rg BT 357.57 635.80 Td (Series ) Tj ET Q q 0 0 0 rg BT 379.26 635.80 Td (B ) Tj ET Q q 0 0 0 rg BT 386.73 635.80 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 418.63 635.80 Td (Shares. ) Tj ET Q q 0 0 0 rg BT 443.94 635.80 Td (These ) Tj ET Q q 0 0 0 rg BT 465.18 635.80 Td (decreases ) Tj ET Q q 0 0 0 rg BT 497.96 635.80 Td (were ) Tj ET Q q 0 0 0 rg BT 515.65 635.80 Td (partially ) Tj ET Q q 0 0 0 rg BT 544.44 635.80 Td (of) Tj ET Q q 0 0 0 rg BT 550.96 635.80 Td (fset ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 626.20 Td (by ) Tj ET Q q 0 0 0 rg BT 59.50 626.20 Td (an ) Tj ET Q q 0 0 0 rg BT 69.05 626.20 Td (increase ) Tj ET Q q 0 0 0 rg BT 97.25 626.20 Td (in ) Tj ET Q q 0 0 0 rg BT 105.48 626.20 Td (additional ) Tj ET Q q 0 0 0 rg BT 139.47 626.20 Td (paid-in ) Tj ET Q q 0 0 0 rg BT 164.13 626.20 Td (capital ) Tj ET Q q 0 0 0 rg BT 187.45 626.20 Td (as ) Tj ET Q q 0 0 0 rg BT 196.11 626.20 Td (as ) Tj ET Q q 0 0 0 rg BT 204.78 626.20 Td (result ) Tj ET Q q 0 0 0 rg BT 224.55 626.20 Td (of ) Tj ET Q q 0 0 0 rg BT 233.21 626.20 Td (the ) Tj ET Q q 0 0 0 rg BT 244.99 626.20 Td (issuance ) Tj ET Q q 0 0 0 rg BT 274.09 626.20 Td (of ) Tj ET Q q 0 0 0 rg BT 282.75 626.20 Td (the ) Tj ET Q q 0 0 0 rg BT 294.53 626.20 Td (2014 ) Tj ET Q q 0 0 0 rg BT 312.38 626.20 Td (W) Tj ET Q q 0 0 0 rg BT 319.29 626.20 Td (arrants.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 610.60 Td (Noncontr) Tj ET Q q 0 0 0 rg BT 81.80 610.60 Td (olling ) Tj ET Q q 0 0 0 rg BT 103.11 610.60 Td (inter) Tj ET Q q 0 0 0 rg BT 119.40 610.60 Td (ests ) Tj ET Q q 0 0 0 rg BT 134.04 610.60 Td (in ) Tj ET Q q 0 0 0 rg BT 142.90 610.60 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 187.77 610.60 Td (subsidiaries:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 230.89 610.60 Td (Noncontrolling ) Tj ET Q q 0 0 0 rg BT 283.96 610.60 Td (interests ) Tj ET Q q 0 0 0 rg BT 312.82 610.60 Td (in ) Tj ET Q q 0 0 0 rg BT 321.23 610.60 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 363.86 610.60 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 403.83 610.60 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.79 610.60 Td (December31, ) Tj ET Q q 0 0 0 rg BT 458.85 610.60 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.85 610.60 Td ( ) Tj ET Q q 0 0 0 rg BT 477.05 610.60 Td (decreased ) Tj ET Q q 0 0 0 rg BT 510.77 610.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.19 610.60 Td (3.5 ) Tj ET Q q 0 0 0 rg BT 539.38 610.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 562.50 610.60 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 601.00 Td (compared ) Tj ET Q q 0 0 0 rg BT 83.04 601.00 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 91.26 601.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 138.13 601.00 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 154.13 601.00 Td (, ) Tj ET Q q 0 0 0 rg BT 158.13 601.00 Td (primarily ) Tj ET Q q 0 0 0 rg BT 189.90 601.00 Td (due ) Tj ET Q q 0 0 0 rg BT 203.45 601.00 Td (to ) Tj ET Q q 0 0 0 rg BT 211.67 601.00 Td (the ) Tj ET Q q 0 0 0 rg BT 223.45 601.00 Td (net ) Tj ET Q q 0 0 0 rg BT 235.22 601.00 Td (loss ) Tj ET Q q 0 0 0 rg BT 249.67 601.00 Td (attributable ) Tj ET Q q 0 0 0 rg BT 288.10 601.00 Td (to ) Tj ET Q q 0 0 0 rg BT 296.32 601.00 Td (noncontrolling ) Tj ET Q q 0 0 0 rg BT 345.43 601.00 Td (interests ) Tj ET Q q 0 0 0 rg BT 374.09 601.00 Td (of ) Tj ET Q q 0 0 0 rg BT 382.75 601.00 Td (our ) Tj ET Q q 0 0 0 rg BT 395.41 601.00 Td (Bulgaria ) Tj ET Q q 0 0 0 rg BT 424.96 601.00 Td (operations.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 563.80 Td (III. ) Tj ET Q q 0 0 0 rg BT 76.50 563.80 Td (Liquidity ) Tj ET Q q 0 0 0 rg BT 110.52 563.80 Td (and ) Tj ET Q q 0 0 0 rg BT 125.41 563.80 Td (Capital ) Tj ET Q q 0 0 0 rg BT 152.75 563.80 Td (Resour) Tj ET Q q 0 0 0 rg BT 177.05 563.80 Td (ces) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 542.20 Td (III\(a\) ) Tj ET Q q 0 0 0 rg BT 76.50 542.20 Td (Summary ) Tj ET Q q 0 0 0 rg BT 112.28 542.20 Td (of ) Tj ET Q q 0 0 0 rg BT 120.94 542.20 Td (Cash ) Tj ET Q q 0 0 0 rg BT 140.28 542.20 Td (Flows) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 526.60 Td (Cash ) Tj ET Q q 0 0 0 rg BT 67.59 526.60 Td (and ) Tj ET Q q 0 0 0 rg BT 81.23 526.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 97.54 526.60 Td (equivalents ) Tj ET Q q 0 0 0 rg BT 136.06 526.60 Td (decreased ) Tj ET Q q 0 0 0 rg BT 169.68 526.60 Td (by ) Tj ET Q q 0 0 0 rg BT 179.78 526.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 196.09 526.60 Td (68.0 ) Tj ET Q q 0 0 0 rg BT 212.18 526.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.30 526.60 Td ( ) Tj ET Q q 0 0 0 rg BT 237.39 526.60 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.37 526.60 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 276.37 526.60 Td (. ) Tj ET Q q 0 0 0 rg BT 280.31 526.60 Td (The ) Tj ET Q q 0 0 0 rg BT 294.83 526.60 Td (change ) Tj ET Q q 0 0 0 rg BT 319.58 526.60 Td (in ) Tj ET Q q 0 0 0 rg BT 327.89 526.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 344.20 526.60 Td (and ) Tj ET Q q 0 0 0 rg BT 357.84 526.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 374.14 526.60 Td (equivalents ) Tj ET Q q 0 0 0 rg BT 412.67 526.60 Td (for ) Tj ET Q q 0 0 0 rg BT 424.09 526.60 Td (the ) Tj ET Q q 0 0 0 rg BT 435.95 526.60 Td (periods ) Tj ET Q q 0 0 0 rg BT 461.59 526.60 Td (presented ) Tj ET Q q 0 0 0 rg BT 494.34 526.60 Td (below ) Tj ET Q q 0 0 0 rg BT 515.98 526.60 Td (is ) Tj ET Q q 0 0 0 rg BT 523.40 526.60 Td (summarized ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 517.00 Td (as ) Tj ET Q q 0 0 0 rg BT 58.16 517.00 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 478.50 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 478.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 478.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 478.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 478.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 478.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 448.50 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 448.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 448.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 448.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 448.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 448.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 418.50 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 418.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 418.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 418.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 418.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 418.50 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 359 493.5 m 424 493.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493 493.5 m 497 493.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497 493.5 m 562 493.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 359 493.5 m 424 493.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 359 478.5 m 424 478.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424 493.5 m 428 493.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428 493.5 m 493 493.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428 478.5 m 493 478.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493 493.5 m 497 493.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497 493.5 m 562 493.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497 478.5 m 562 478.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 359 478.5 m 424 478.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428 478.5 m 493 478.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497 478.5 m 562 478.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 403.5 m 424 403.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 390.5 m 424 390.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 388.5 m 424 388.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 403.5 m 493 403.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 390.5 m 493 390.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 388.5 m 493 388.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 403.5 m 562 403.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 390.5 m 562 390.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 388.5 m 562 388.5 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 379.30 497.73 Td (For The Year Ending December 31, \(US$ 000's\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 482.75 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 404.50 482.73 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 473.50 482.73 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 542.50 482.73 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 467.75 Td (Net ) Tj ET Q q 0 0 0 rg BT 66.05 467.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 82.27 467.75 Td (used ) Tj ET Q q 0 0 0 rg BT 98.93 467.75 Td (in ) Tj ET Q q 0 0 0 rg BT 107.15 467.75 Td (operating ) Tj ET Q q 0 0 0 rg BT 139.36 467.75 Td (activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 361.50 467.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.10 467.75 Td (\(65,242) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.80 467.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.50 467.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.10 467.75 Td (\(61,070) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.80 467.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.50 467.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 467.75 Td (\(27,670) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 467.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 452.75 Td (Net ) Tj ET Q q 0 0 0 rg BT 66.05 452.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 82.27 452.75 Td (used ) Tj ET Q q 0 0 0 rg BT 98.93 452.75 Td (in ) Tj ET Q q 0 0 0 rg BT 107.15 452.75 Td (investing ) Tj ET Q q 0 0 0 rg BT 138.48 452.75 Td (activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.10 452.75 Td (\(28,548) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.80 452.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.10 452.75 Td (\(29,835) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.80 452.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 452.75 Td (\(31,091) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 452.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 437.75 Td (Net ) Tj ET Q q 0 0 0 rg BT 66.05 437.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 82.27 437.75 Td (provided ) Tj ET Q q 0 0 0 rg BT 112.70 437.75 Td (by ) Tj ET Q q 0 0 0 rg BT 122.70 437.75 Td (financing ) Tj ET Q q 0 0 0 rg BT 154.91 437.75 Td (activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.80 437.75 Td (38,995) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.80 437.75 Td (59,244) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 437.75 Td (12,619) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 422.75 Td (Net ) Tj ET Q q 0 0 0 rg BT 66.05 422.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 82.27 422.75 Td (used ) Tj ET Q q 0 0 0 rg BT 98.93 422.75 Td (in ) Tj ET Q q 0 0 0 rg BT 107.15 422.75 Td (discontinued ) Tj ET Q q 0 0 0 rg BT 150.04 422.75 Td (operations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.10 422.75 Td (\(2,578) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.80 422.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.10 422.75 Td (\(2,176) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.80 422.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.10 422.75 Td (\(3,180) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 422.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 407.75 Td (Impact ) Tj ET Q q 0 0 0 rg BT 76.71 407.75 Td (of ) Tj ET Q q 0 0 0 rg BT 85.38 407.75 Td (exchange ) Tj ET Q q 0 0 0 rg BT 117.58 407.75 Td (rate ) Tj ET Q q 0 0 0 rg BT 131.57 407.75 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 171.34 407.75 Td (on ) Tj ET Q q 0 0 0 rg BT 181.34 407.75 Td (cash) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.10 407.75 Td (\(10,651) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.80 407.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.10 407.75 Td (\(384) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.80 407.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 407.75 Td (4,564) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 393.73 Td (Net ) Tj ET Q q 0 0 0 rg BT 66.49 393.73 Td (decr) Tj ET Q q 0 0 0 rg BT 81.45 393.73 Td (ease ) Tj ET Q q 0 0 0 rg BT 97.66 393.73 Td (in ) Tj ET Q q 0 0 0 rg BT 106.34 393.73 Td (cash ) Tj ET Q q 0 0 0 rg BT 123.45 393.73 Td (and ) Tj ET Q q 0 0 0 rg BT 138.35 393.73 Td (cash ) Tj ET Q q 0 0 0 rg BT 155.46 393.73 Td (equivalents) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.50 393.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 396.10 393.73 Td (\(68,024) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 420.80 393.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 430.50 393.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.10 393.73 Td (\(34,221) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.80 393.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 499.50 393.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 534.10 393.73 Td (\(44,758) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 393.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 371.40 Td (Operating ) Tj ET Q q 0 0 0 rg BT 84.24 371.40 Td (Activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 355.80 Td (Cash ) Tj ET Q q 0 0 0 rg BT 67.09 355.80 Td (used ) Tj ET Q q 0 0 0 rg BT 83.34 355.80 Td (in ) Tj ET Q q 0 0 0 rg BT 91.15 355.80 Td (continuing ) Tj ET Q q 0 0 0 rg BT 126.95 355.80 Td (operations ) Tj ET Q q 0 0 0 rg BT 161.86 355.80 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 184.34 355.80 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 200.34 355.80 Td ( ) Tj ET Q q 0 0 0 rg BT 201.92 355.80 Td (was ) Tj ET Q q 0 0 0 rg BT 215.95 355.80 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.77 355.80 Td (65.2 ) Tj ET Q q 0 0 0 rg BT 247.35 355.80 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 270.47 355.80 Td ( ) Tj ET Q q 0 0 0 rg BT 272.05 355.80 Td (compared ) Tj ET Q q 0 0 0 rg BT 305.18 355.80 Td (to ) Tj ET Q q 0 0 0 rg BT 312.99 355.80 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.80 355.80 Td (61.1 ) Tj ET Q q 0 0 0 rg BT 344.39 355.80 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.50 355.80 Td ( ) Tj ET Q q 0 0 0 rg BT 369.09 355.80 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.90 355.80 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.90 355.80 Td (. ) Tj ET Q q 0 0 0 rg BT 396.37 355.80 Td (While ) Tj ET Q q 0 0 0 rg BT 417.51 355.80 Td (we ) Tj ET Q q 0 0 0 rg BT 428.42 355.80 Td (generated ) Tj ET Q q 0 0 0 rg BT 461.10 355.80 Td (more ) Tj ET Q q 0 0 0 rg BT 479.12 355.80 Td (cash ) Tj ET Q q 0 0 0 rg BT 494.92 355.80 Td (from ) Tj ET Q q 0 0 0 rg BT 512.06 355.80 Td (higher ) Tj ET Q q 0 0 0 rg BT 534.09 355.80 Td (revenues ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 346.20 Td (and ) Tj ET Q q 0 0 0 rg BT 63.39 346.20 Td (paid ) Tj ET Q q 0 0 0 rg BT 79.50 346.20 Td (less ) Tj ET Q q 0 0 0 rg BT 93.84 346.20 Td (cash ) Tj ET Q q 0 0 0 rg BT 110.40 346.20 Td (for ) Tj ET Q q 0 0 0 rg BT 122.07 346.20 Td (interest ) Tj ET Q q 0 0 0 rg BT 147.95 346.20 Td (due ) Tj ET Q q 0 0 0 rg BT 161.84 346.20 Td (to ) Tj ET Q q 0 0 0 rg BT 170.41 346.20 Td (our ) Tj ET Q q 0 0 0 rg BT 183.41 346.20 Td (obligation ) Tj ET Q q 0 0 0 rg BT 218.19 346.20 Td (or ) Tj ET Q q 0 0 0 rg BT 227.20 346.20 Td (election ) Tj ET Q q 0 0 0 rg BT 254.86 346.20 Td (to ) Tj ET Q q 0 0 0 rg BT 263.42 346.20 Td (pay ) Tj ET Q q 0 0 0 rg BT 277.31 346.20 Td (certain ) Tj ET Q q 0 0 0 rg BT 301.41 346.20 Td (interest ) Tj ET Q q 0 0 0 rg BT 327.30 346.20 Td (in ) Tj ET Q q 0 0 0 rg BT 335.86 346.20 Td (kind, ) Tj ET Q q 0 0 0 rg BT 354.42 346.20 Td (this ) Tj ET Q q 0 0 0 rg BT 368.32 346.20 Td (was ) Tj ET Q q 0 0 0 rg BT 383.10 346.20 Td (more ) Tj ET Q q 0 0 0 rg BT 401.88 346.20 Td (than ) Tj ET Q q 0 0 0 rg BT 417.99 346.20 Td (of) Tj ET Q q 0 0 0 rg BT 424.51 346.20 Td (fset ) Tj ET Q q 0 0 0 rg BT 438.40 346.20 Td (primarily ) Tj ET Q q 0 0 0 rg BT 470.51 346.20 Td (by ) Tj ET Q q 0 0 0 rg BT 480.85 346.20 Td (higher ) Tj ET Q q 0 0 0 rg BT 503.63 346.20 Td (payments ) Tj ET Q q 0 0 0 rg BT 536.63 346.20 Td (made ) Tj ET Q q 0 0 0 rg BT 556.29 346.20 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 336.60 Td (suppliers ) Tj ET Q q 0 0 0 rg BT 80.39 336.60 Td (of ) Tj ET Q q 0 0 0 rg BT 89.05 336.60 Td (foreign ) Tj ET Q q 0 0 0 rg BT 114.15 336.60 Td (programming ) Tj ET Q q 0 0 0 rg BT 159.70 336.60 Td (in ) Tj ET Q q 0 0 0 rg BT 167.92 336.60 Td (order ) Tj ET Q q 0 0 0 rg BT 186.80 336.60 Td (to ) Tj ET Q q 0 0 0 rg BT 195.02 336.60 Td (improve ) Tj ET Q q 0 0 0 rg BT 223.68 336.60 Td (our ) Tj ET Q q 0 0 0 rg BT 236.35 336.60 Td (payables ) Tj ET Q q 0 0 0 rg BT 266.34 336.60 Td (position. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 321.00 Td (Cash ) Tj ET Q q 0 0 0 rg BT 67.54 321.00 Td (used ) Tj ET Q q 0 0 0 rg BT 84.24 321.00 Td (in ) Tj ET Q q 0 0 0 rg BT 92.50 321.00 Td (operations ) Tj ET Q q 0 0 0 rg BT 127.86 321.00 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 150.79 321.00 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 166.79 321.00 Td ( ) Tj ET Q q 0 0 0 rg BT 168.83 321.00 Td (was ) Tj ET Q q 0 0 0 rg BT 183.31 321.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 199.57 321.00 Td (61.1 ) Tj ET Q q 0 0 0 rg BT 215.61 321.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 238.72 321.00 Td ( ) Tj ET Q q 0 0 0 rg BT 240.76 321.00 Td (compared ) Tj ET Q q 0 0 0 rg BT 274.34 321.00 Td (to ) Tj ET Q q 0 0 0 rg BT 282.60 321.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.86 321.00 Td (27.7 ) Tj ET Q q 0 0 0 rg BT 314.90 321.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.01 321.00 Td ( ) Tj ET Q q 0 0 0 rg BT 340.05 321.00 Td (in ) Tj ET Q q 0 0 0 rg BT 348.31 321.00 Td (2012, ) Tj ET Q q 0 0 0 rg BT 368.35 321.00 Td (lar) Tj ET Q q 0 0 0 rg BT 376.64 321.00 Td (gely ) Tj ET Q q 0 0 0 rg BT 392.46 321.00 Td (due ) Tj ET Q q 0 0 0 rg BT 406.04 321.00 Td (to ) Tj ET Q q 0 0 0 rg BT 414.30 321.00 Td (a ) Tj ET Q q 0 0 0 rg BT 419.89 321.00 Td (reduction ) Tj ET Q q 0 0 0 rg BT 452.14 321.00 Td (in ) Tj ET Q q 0 0 0 rg BT 460.40 321.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 476.66 321.00 Td (receipts, ) Tj ET Q q 0 0 0 rg BT 505.57 321.00 Td (particularly ) Tj ET Q q 0 0 0 rg BT 544.48 321.00 Td (in ) Tj ET Q q 0 0 0 rg BT 552.74 321.00 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 311.40 Td (Czech ) Tj ET Q q 0 0 0 rg BT 71.74 311.40 Td (Republic ) Tj ET Q q 0 0 0 rg BT 102.88 311.40 Td (following ) Tj ET Q q 0 0 0 rg BT 136.24 311.40 Td (the ) Tj ET Q q 0 0 0 rg BT 148.26 311.40 Td (negative ) Tj ET Q q 0 0 0 rg BT 177.61 311.40 Td (reaction ) Tj ET Q q 0 0 0 rg BT 205.63 311.40 Td (to ) Tj ET Q q 0 0 0 rg BT 214.10 311.40 Td (our ) Tj ET Q q 0 0 0 rg BT 227.02 311.40 Td (pricing ) Tj ET Q q 0 0 0 rg BT 251.93 311.40 Td (initiatives. ) Tj ET Q q 0 0 0 rg BT 287.57 311.40 Td (W) Tj ET Q q 0 0 0 rg BT 294.48 311.40 Td (e ) Tj ET Q q 0 0 0 rg BT 300.28 311.40 Td (also ) Tj ET Q q 0 0 0 rg BT 315.42 311.40 Td (made ) Tj ET Q q 0 0 0 rg BT 335.00 311.40 Td (cash ) Tj ET Q q 0 0 0 rg BT 351.46 311.40 Td (payments ) Tj ET Q q 0 0 0 rg BT 384.37 311.40 Td (for ) Tj ET Q q 0 0 0 rg BT 395.95 311.40 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 439.08 311.40 Td (amounting ) Tj ET Q q 0 0 0 rg BT 475.55 311.40 Td (to ) Tj ET Q q 0 0 0 rg BT 484.03 311.40 Td (US$13.3 ) Tj ET Q q 0 0 0 rg BT 516.51 311.40 Td (millionduring ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 301.80 Td (2013.These ) Tj ET Q q 0 0 0 rg BT 88.60 301.80 Td (cash ) Tj ET Q q 0 0 0 rg BT 104.82 301.80 Td (outflows ) Tj ET Q q 0 0 0 rg BT 134.82 301.80 Td (were ) Tj ET Q q 0 0 0 rg BT 152.36 301.80 Td (partially ) Tj ET Q q 0 0 0 rg BT 181.02 301.80 Td (of) Tj ET Q q 0 0 0 rg BT 187.54 301.80 Td (fset ) Tj ET Q q 0 0 0 rg BT 201.09 301.80 Td (by ) Tj ET Q q 0 0 0 rg BT 211.09 301.80 Td (lower ) Tj ET Q q 0 0 0 rg BT 231.30 301.80 Td (cash ) Tj ET Q q 0 0 0 rg BT 247.52 301.80 Td (paid ) Tj ET Q q 0 0 0 rg BT 263.29 301.80 Td (for ) Tj ET Q q 0 0 0 rg BT 274.62 301.80 Td (programming ) Tj ET Q q 0 0 0 rg BT 320.16 301.80 Td (as ) Tj ET Q q 0 0 0 rg BT 328.83 301.80 Td (a ) Tj ET Q q 0 0 0 rg BT 334.38 301.80 Td (result ) Tj ET Q q 0 0 0 rg BT 354.15 301.80 Td (of ) Tj ET Q q 0 0 0 rg BT 362.82 301.80 Td (deferring ) Tj ET Q q 0 0 0 rg BT 394.13 301.80 Td (payments ) Tj ET Q q 0 0 0 rg BT 426.79 301.80 Td (on ) Tj ET Q q 0 0 0 rg BT 436.79 301.80 Td (acquired ) Tj ET Q q 0 0 0 rg BT 466.33 301.80 Td (programming.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 286.20 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 286.20 Td (e ) Tj ET Q q 0 0 0 rg BT 61.66 286.20 Td (paid ) Tj ET Q q 0 0 0 rg BT 77.13 286.20 Td (cash ) Tj ET Q q 0 0 0 rg BT 93.04 286.20 Td (interest ) Tj ET Q q 0 0 0 rg BT 118.28 286.20 Td (of ) Tj ET Q q 0 0 0 rg BT 126.64 286.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 142.56 286.20 Td (76.2 ) Tj ET Q q 0 0 0 rg BT 158.26 286.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.37 286.20 Td (, ) Tj ET Q q 0 0 0 rg BT 185.07 286.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 200.99 286.20 Td (108.3 ) Tj ET Q q 0 0 0 rg BT 220.69 286.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 243.80 286.20 Td ( ) Tj ET Q q 0 0 0 rg BT 245.50 286.20 Td (and ) Tj ET Q q 0 0 0 rg BT 258.75 286.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.67 286.20 Td (104.7 ) Tj ET Q q 0 0 0 rg BT 294.37 286.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 317.48 286.20 Td ( ) Tj ET Q q 0 0 0 rg BT 319.17 286.20 Td (on ) Tj ET Q q 0 0 0 rg BT 328.87 286.20 Td (our ) Tj ET Q q 0 0 0 rg BT 341.23 286.20 Td (Senior ) Tj ET Q q 0 0 0 rg BT 363.81 286.20 Td (Debt ) Tj ET Q q 0 0 0 rg BT 381.06 286.20 Td (and ) Tj ET Q q 0 0 0 rg BT 394.31 286.20 Td (credit ) Tj ET Q q 0 0 0 rg BT 414.22 286.20 Td (facilities, ) Tj ET Q q 0 0 0 rg BT 445.46 286.20 Td (collectively) Tj ET Q q 0 0 0 rg BT 482.25 286.20 Td (, ) Tj ET Q q 0 0 0 rg BT 485.95 286.20 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 493.87 286.20 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 509.87 286.20 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 513.56 286.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.56 286.20 Td ( ) Tj ET Q q 0 0 0 rg BT 531.26 286.20 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.51 286.20 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 560.51 286.20 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 276.60 Td (respectively) Tj ET Q q 0 0 0 rg BT 87.63 276.60 Td (.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 258.00 Td (Investing ) Tj ET Q q 0 0 0 rg BT 80.68 258.00 Td (Activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 242.40 Td (Net ) Tj ET Q q 0 0 0 rg BT 62.76 242.40 Td (cash ) Tj ET Q q 0 0 0 rg BT 78.69 242.40 Td (used ) Tj ET Q q 0 0 0 rg BT 95.06 242.40 Td (in ) Tj ET Q q 0 0 0 rg BT 102.99 242.40 Td (investing ) Tj ET Q q 0 0 0 rg BT 134.03 242.40 Td (activities ) Tj ET Q q 0 0 0 rg BT 164.62 242.40 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 172.56 242.40 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 188.56 242.40 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 192.27 242.40 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.27 242.40 Td ( ) Tj ET Q q 0 0 0 rg BT 209.98 242.40 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 223.24 242.40 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 239.24 242.40 Td ( ) Tj ET Q q 0 0 0 rg BT 240.95 242.40 Td (was ) Tj ET Q q 0 0 0 rg BT 255.10 242.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.03 242.40 Td (28.5 ) Tj ET Q q 0 0 0 rg BT 286.74 242.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 309.86 242.40 Td (, ) Tj ET Q q 0 0 0 rg BT 313.57 242.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 329.50 242.40 Td (29.8 ) Tj ET Q q 0 0 0 rg BT 345.21 242.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.33 242.40 Td ( ) Tj ET Q q 0 0 0 rg BT 370.04 242.40 Td (and ) Tj ET Q q 0 0 0 rg BT 383.30 242.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.23 242.40 Td (31.1 ) Tj ET Q q 0 0 0 rg BT 414.94 242.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.06 242.40 Td (, ) Tj ET Q q 0 0 0 rg BT 441.77 242.40 Td (respectively) Tj ET Q q 0 0 0 rg BT 479.90 242.40 Td (. ) Tj ET Q q 0 0 0 rg BT 483.61 242.40 Td (Our ) Tj ET Q q 0 0 0 rg BT 497.76 242.40 Td (investing ) Tj ET Q q 0 0 0 rg BT 528.80 242.40 Td (cash ) Tj ET Q q 0 0 0 rg BT 544.72 242.40 Td (flows ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 232.80 Td (consist ) Tj ET Q q 0 0 0 rg BT 73.72 232.80 Td (primarily ) Tj ET Q q 0 0 0 rg BT 105.49 232.80 Td (of ) Tj ET Q q 0 0 0 rg BT 114.16 232.80 Td (capital ) Tj ET Q q 0 0 0 rg BT 137.48 232.80 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 180.35 232.80 Td (for ) Tj ET Q q 0 0 0 rg BT 191.68 232.80 Td (property) Tj ET Q q 0 0 0 rg BT 218.26 232.80 Td (, ) Tj ET Q q 0 0 0 rg BT 222.26 232.80 Td (plant ) Tj ET Q q 0 0 0 rg BT 240.26 232.80 Td (and ) Tj ET Q q 0 0 0 rg BT 253.81 232.80 Td (equipment.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 214.20 Td (Financing ) Tj ET Q q 0 0 0 rg BT 84.24 214.20 Td (Activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 198.60 Td (Net ) Tj ET Q q 0 0 0 rg BT 63.45 198.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 80.07 198.60 Td (provided ) Tj ET Q q 0 0 0 rg BT 110.91 198.60 Td (by ) Tj ET Q q 0 0 0 rg BT 121.32 198.60 Td (financing ) Tj ET Q q 0 0 0 rg BT 153.93 198.60 Td (activities ) Tj ET Q q 0 0 0 rg BT 185.21 198.60 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.50 198.60 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 224.50 198.60 Td ( ) Tj ET Q q 0 0 0 rg BT 226.91 198.60 Td (was ) Tj ET Q q 0 0 0 rg BT 241.75 198.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 258.38 198.60 Td (39.0 ) Tj ET Q q 0 0 0 rg BT 274.78 198.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 297.90 198.60 Td ( ) Tj ET Q q 0 0 0 rg BT 300.30 198.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 334.24 198.60 Td (to ) Tj ET Q q 0 0 0 rg BT 342.87 198.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 359.50 198.60 Td (59.2 ) Tj ET Q q 0 0 0 rg BT 375.90 198.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.02 198.60 Td ( ) Tj ET Q q 0 0 0 rg BT 401.42 198.60 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 424.71 198.60 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.71 198.60 Td (.) Tj ET Q q 0 0 0 rg BT 444.56 198.60 Td (The ) Tj ET Q q 0 0 0 rg BT 459.41 198.60 Td (amount ) Tj ET Q q 0 0 0 rg BT 485.80 198.60 Td (of ) Tj ET Q q 0 0 0 rg BT 494.87 198.60 Td (net ) Tj ET Q q 0 0 0 rg BT 507.05 198.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 523.67 198.60 Td (provided ) Tj ET Q q 0 0 0 rg BT 554.51 198.60 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 189.00 Td (financing ) Tj ET Q q 0 0 0 rg BT 82.17 189.00 Td (activities ) Tj ET Q q 0 0 0 rg BT 113.50 189.00 Td (in ) Tj ET Q q 0 0 0 rg BT 122.17 189.00 Td (the ) Tj ET Q q 0 0 0 rg BT 134.40 189.00 Td (current ) Tj ET Q q 0 0 0 rg BT 159.51 189.00 Td (year ) Tj ET Q q 0 0 0 rg BT 175.73 189.00 Td (primarily ) Tj ET Q q 0 0 0 rg BT 207.95 189.00 Td (reflected ) Tj ET Q q 0 0 0 rg BT 238.38 189.00 Td (the ) Tj ET Q q 0 0 0 rg BT 250.61 189.00 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 281.49 189.00 Td (of ) Tj ET Q q 0 0 0 rg BT 290.61 189.00 Td (the ) Tj ET Q q 0 0 0 rg BT 302.84 189.00 Td (Rights ) Tj ET Q q 0 0 0 rg BT 326.19 189.00 Td (Of) Tj ET Q q 0 0 0 rg BT 334.49 189.00 Td (fering ) Tj ET Q q 0 0 0 rg BT 356.04 189.00 Td (and ) Tj ET Q q 0 0 0 rg BT 370.05 189.00 Td (related ) Tj ET Q q 0 0 0 rg BT 394.26 189.00 Td (financing ) Tj ET Q q 0 0 0 rg BT 426.93 189.00 Td (transactions ) Tj ET Q q 0 0 0 rg BT 467.59 189.00 Td (and ) Tj ET Q q 0 0 0 rg BT 481.60 189.00 Td (a ) Tj ET Q q 0 0 0 rg BT 487.60 189.00 Td (drawdown ) Tj ET Q q 0 0 0 rg BT 523.83 189.00 Td (on ) Tj ET Q q 0 0 0 rg BT 534.28 189.00 Td (the ) Tj ET Q q 0 0 0 rg BT 546.51 189.00 Td (2017 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 179.40 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 84.83 179.40 Td (Credit ) Tj ET Q q 0 0 0 rg BT 106.83 179.40 Td (Facility) Tj ET Q q 0 0 0 rg BT 130.75 179.40 Td (, ) Tj ET Q q 0 0 0 rg BT 134.75 179.40 Td (partially ) Tj ET Q q 0 0 0 rg BT 163.41 179.40 Td (of) Tj ET Q q 0 0 0 rg BT 169.93 179.40 Td (fset ) Tj ET Q q 0 0 0 rg BT 183.48 179.40 Td (by ) Tj ET Q q 0 0 0 rg BT 193.48 179.40 Td (the ) Tj ET Q q 0 0 0 rg BT 205.25 179.40 Td (payment ) Tj ET Q q 0 0 0 rg BT 234.80 179.40 Td (made ) Tj ET Q q 0 0 0 rg BT 254.12 179.40 Td (to ) Tj ET Q q 0 0 0 rg BT 262.34 179.40 Td (redeem ) Tj ET Q q 0 0 0 rg BT 287.88 179.40 Td (and ) Tj ET Q q 0 0 0 rg BT 301.43 179.40 Td (dischar) Tj ET Q q 0 0 0 rg BT 324.39 179.40 Td (ge ) Tj ET Q q 0 0 0 rg BT 333.94 179.40 Td (the ) Tj ET Q q 0 0 0 rg BT 345.71 179.40 Td (2016 ) Tj ET Q q 0 0 0 rg BT 363.71 179.40 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 383.94 179.40 Td (Rate ) Tj ET Q q 0 0 0 rg BT 400.60 179.40 Td (Notes ) Tj ET Q q 0 0 0 rg BT 421.26 179.40 Td (and ) Tj ET Q q 0 0 0 rg BT 434.81 179.40 Td (the ) Tj ET Q q 0 0 0 rg BT 446.59 179.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 464.59 179.40 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 484.81 179.40 Td (Rate ) Tj ET Q q 0 0 0 rg BT 501.47 179.40 Td (Notes.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 163.80 Td (Cash ) Tj ET Q q 0 0 0 rg BT 67.01 163.80 Td (provided ) Tj ET Q q 0 0 0 rg BT 96.96 163.80 Td (by ) Tj ET Q q 0 0 0 rg BT 106.48 163.80 Td (financing ) Tj ET Q q 0 0 0 rg BT 138.20 163.80 Td (activities ) Tj ET Q q 0 0 0 rg BT 168.60 163.80 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 191.00 163.80 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 207.00 163.80 Td ( ) Tj ET Q q 0 0 0 rg BT 208.51 163.80 Td (was ) Tj ET Q q 0 0 0 rg BT 222.46 163.80 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 238.21 163.80 Td (59.2 ) Tj ET Q q 0 0 0 rg BT 253.72 163.80 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 276.83 163.80 Td ( ) Tj ET Q q 0 0 0 rg BT 278.35 163.80 Td (reflected ) Tj ET Q q 0 0 0 rg BT 307.84 163.80 Td (the ) Tj ET Q q 0 0 0 rg BT 319.12 163.80 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 349.07 163.80 Td (from ) Tj ET Q q 0 0 0 rg BT 366.13 163.80 Td (the ) Tj ET Q q 0 0 0 rg BT 377.42 163.80 Td (public ) Tj ET Q q 0 0 0 rg BT 398.93 163.80 Td (and ) Tj ET Q q 0 0 0 rg BT 411.99 163.80 Td (private ) Tj ET Q q 0 0 0 rg BT 435.72 163.80 Td (equity ) Tj ET Q q 0 0 0 rg BT 457.23 163.80 Td (of) Tj ET Q q 0 0 0 rg BT 463.75 163.80 Td (ferings ) Tj ET Q q 0 0 0 rg BT 487.47 163.80 Td (of) Tj ET Q q 0 0 0 rg BT 493.99 163.80 Td (fset ) Tj ET Q q 0 0 0 rg BT 507.06 163.80 Td (by ) Tj ET Q q 0 0 0 rg BT 516.57 163.80 Td (the ) Tj ET Q q 0 0 0 rg BT 527.86 163.80 Td (repurchase ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 154.20 Td (of ) Tj ET Q q 0 0 0 rg BT 58.09 154.20 Td (a ) Tj ET Q q 0 0 0 rg BT 63.56 154.20 Td (portion ) Tj ET Q q 0 0 0 rg BT 88.60 154.20 Td (of ) Tj ET Q q 0 0 0 rg BT 97.19 154.20 Td (our ) Tj ET Q q 0 0 0 rg BT 109.78 154.20 Td (2016 ) Tj ET Q q 0 0 0 rg BT 127.70 154.20 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 147.85 154.20 Td (Rate ) Tj ET Q q 0 0 0 rg BT 164.43 154.20 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 187.02 154.20 Td (as ) Tj ET Q q 0 0 0 rg BT 195.61 154.20 Td (well ) Tj ET Q q 0 0 0 rg BT 211.31 154.20 Td (as ) Tj ET Q q 0 0 0 rg BT 219.90 154.20 Td (the ) Tj ET Q q 0 0 0 rg BT 231.60 154.20 Td (decrease ) Tj ET Q q 0 0 0 rg BT 261.05 154.20 Td (in ) Tj ET Q q 0 0 0 rg BT 269.20 154.20 Td (restricted ) Tj ET Q q 0 0 0 rg BT 300.89 154.20 Td (cash ) Tj ET Q q 0 0 0 rg BT 317.03 154.20 Td (deposited ) Tj ET Q q 0 0 0 rg BT 349.61 154.20 Td (with ) Tj ET Q q 0 0 0 rg BT 365.76 154.20 Td (the ) Tj ET Q q 0 0 0 rg BT 377.46 154.20 Td (trustee ) Tj ET Q q 0 0 0 rg BT 400.71 154.20 Td (of ) Tj ET Q q 0 0 0 rg BT 409.29 154.20 Td (our ) Tj ET Q q 0 0 0 rg BT 421.88 154.20 Td (3.5% ) Tj ET Q q 0 0 0 rg BT 440.47 154.20 Td (senior ) Tj ET Q q 0 0 0 rg BT 461.95 154.20 Td (convertible ) Tj ET Q q 0 0 0 rg BT 499.86 154.20 Td (notes ) Tj ET Q q 0 0 0 rg BT 518.67 154.20 Td (due ) Tj ET Q q 0 0 0 rg BT 532.14 154.20 Td (2013 ) Tj ET Q q 0 0 0 rg BT 550.07 154.20 Td (\(the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 144.60 Td ("2013 ) Tj ET Q q 0 0 0 rg BT 70.77 144.60 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 110.54 144.60 Td (Notes"\) ) Tj ET Q q 0 0 0 rg BT 137.13 144.60 Td (which ) Tj ET Q q 0 0 0 rg BT 158.68 144.60 Td (were ) Tj ET Q q 0 0 0 rg BT 176.22 144.60 Td (settled ) Tj ET Q q 0 0 0 rg BT 199.11 144.60 Td (at ) Tj ET Q q 0 0 0 rg BT 206.88 144.60 Td (maturity ) Tj ET Q q 0 0 0 rg BT 235.98 144.60 Td (in ) Tj ET Q q 0 0 0 rg BT 244.21 144.60 Td (March ) Tj ET Q q 0 0 0 rg BT 267.09 144.60 Td (2013.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 129.00 Td (Cash ) Tj ET Q q 0 0 0 rg BT 67.24 129.00 Td (provided ) Tj ET Q q 0 0 0 rg BT 97.42 129.00 Td (by ) Tj ET Q q 0 0 0 rg BT 107.16 129.00 Td (financing ) Tj ET Q q 0 0 0 rg BT 139.11 129.00 Td (activities ) Tj ET Q q 0 0 0 rg BT 169.73 129.00 Td (during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 192.36 129.00 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.36 129.00 Td ( ) Tj ET Q q 0 0 0 rg BT 210.10 129.00 Td (of ) Tj ET Q q 0 0 0 rg BT 218.51 129.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 234.48 129.00 Td (12.6 ) Tj ET Q q 0 0 0 rg BT 250.22 129.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 273.33 129.00 Td ( ) Tj ET Q q 0 0 0 rg BT 275.07 129.00 Td (reflected ) Tj ET Q q 0 0 0 rg BT 304.79 129.00 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 334.96 129.00 Td (from ) Tj ET Q q 0 0 0 rg BT 352.25 129.00 Td (the ) Tj ET Q q 0 0 0 rg BT 363.77 129.00 Td (issuance ) Tj ET Q q 0 0 0 rg BT 392.61 129.00 Td (of ) Tj ET Q q 0 0 0 rg BT 401.01 129.00 Td (unregistered ) Tj ET Q q 0 0 0 rg BT 442.29 129.00 Td (shares ) Tj ET Q q 0 0 0 rg BT 464.03 129.00 Td (and ) Tj ET Q q 0 0 0 rg BT 477.32 129.00 Td (secondary ) Tj ET Q q 0 0 0 rg BT 511.49 129.00 Td (issuances ) Tj ET Q q 0 0 0 rg BT 543.45 129.00 Td (of ) Tj ET Q q 0 0 0 rg BT 551.85 129.00 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 119.40 Td (2016 ) Tj ET Q q 0 0 0 rg BT 67.24 119.40 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 87.21 119.40 Td (Rate ) Tj ET Q q 0 0 0 rg BT 103.62 119.40 Td (Notes ) Tj ET Q q 0 0 0 rg BT 124.02 119.40 Td (and ) Tj ET Q q 0 0 0 rg BT 137.32 119.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 155.06 119.40 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 175.03 119.40 Td (Rate ) Tj ET Q q 0 0 0 rg BT 191.43 119.40 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 213.84 119.40 Td (reduced ) Tj ET Q q 0 0 0 rg BT 240.90 119.40 Td (by ) Tj ET Q q 0 0 0 rg BT 250.65 119.40 Td (payments ) Tj ET Q q 0 0 0 rg BT 283.05 119.40 Td (made ) Tj ET Q q 0 0 0 rg BT 302.12 119.40 Td (for ) Tj ET Q q 0 0 0 rg BT 313.19 119.40 Td (purchases ) Tj ET Q q 0 0 0 rg BT 346.48 119.40 Td (of ) Tj ET Q q 0 0 0 rg BT 354.89 119.40 Td (our ) Tj ET Q q 0 0 0 rg BT 367.29 119.40 Td (2013 ) Tj ET Q q 0 0 0 rg BT 385.04 119.40 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 424.55 119.40 Td (Notes ) Tj ET Q q 0 0 0 rg BT 444.96 119.40 Td (and ) Tj ET Q q 0 0 0 rg BT 458.26 119.40 Td (our ) Tj ET Q q 0 0 0 rg BT 470.66 119.40 Td (floating ) Tj ET Q q 0 0 0 rg BT 497.29 119.40 Td (rate ) Tj ET Q q 0 0 0 rg BT 511.02 119.40 Td (senior ) Tj ET Q q 0 0 0 rg BT 532.32 119.40 Td (notes ) Tj ET Q q 0 0 0 rg BT 550.95 119.40 Td (due ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 109.80 Td (2014, ) Tj ET Q q 0 0 0 rg BT 69.50 109.80 Td (as ) Tj ET Q q 0 0 0 rg BT 78.16 109.80 Td (well ) Tj ET Q q 0 0 0 rg BT 93.94 109.80 Td (as ) Tj ET Q q 0 0 0 rg BT 102.60 109.80 Td (the ) Tj ET Q q 0 0 0 rg BT 114.38 109.80 Td (increase ) Tj ET Q q 0 0 0 rg BT 142.58 109.80 Td (in ) Tj ET Q q 0 0 0 rg BT 150.80 109.80 Td (restricted ) Tj ET Q q 0 0 0 rg BT 182.56 109.80 Td (cash ) Tj ET Q q 0 0 0 rg BT 198.78 109.80 Td (deposited ) Tj ET Q q 0 0 0 rg BT 231.44 109.80 Td (with ) Tj ET Q q 0 0 0 rg BT 247.66 109.80 Td (the ) Tj ET Q q 0 0 0 rg BT 259.43 109.80 Td (trustee ) Tj ET Q q 0 0 0 rg BT 282.76 109.80 Td (of ) Tj ET Q q 0 0 0 rg BT 291.42 109.80 Td (the ) Tj ET Q q 0 0 0 rg BT 303.20 109.80 Td (2013 ) Tj ET Q q 0 0 0 rg BT 321.20 109.80 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 360.96 109.80 Td (Notes ) Tj ET Q q 0 0 0 rg BT 381.63 109.80 Td (for ) Tj ET Q q 0 0 0 rg BT 392.96 109.80 Td (their ) Tj ET Q q 0 0 0 rg BT 409.62 109.80 Td (settlement ) Tj ET Q q 0 0 0 rg BT 444.50 109.80 Td (at ) Tj ET Q q 0 0 0 rg BT 452.27 109.80 Td (maturity) Tj ET Q q 0 0 0 rg BT 478.86 109.80 Td (.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 94.20 Td (Discontinued ) Tj ET Q q 0 0 0 rg BT 94.16 94.20 Td (Operations ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 78.60 Td (Net ) Tj ET Q q 0 0 0 rg BT 63.09 78.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 79.35 78.60 Td (used ) Tj ET Q q 0 0 0 rg BT 96.05 78.60 Td (in ) Tj ET Q q 0 0 0 rg BT 104.32 78.60 Td (discontinued ) Tj ET Q q 0 0 0 rg BT 147.24 78.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 182.61 78.60 Td (during ) Tj ET Q q 0 0 0 rg BT 205.53 78.60 Td (the ) Tj ET Q q 0 0 0 rg BT 217.35 78.60 Td (years ) Tj ET Q q 0 0 0 rg BT 236.27 78.60 Td (ended ) Tj ET Q q 0 0 0 rg BT 257.41 78.60 Td (December ) Tj ET Q q 0 0 0 rg BT 292.32 78.60 Td (31, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 304.36 78.60 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 320.36 78.60 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 324.40 78.60 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.40 78.60 Td ( ) Tj ET Q q 0 0 0 rg BT 342.44 78.60 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.03 78.60 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.03 78.60 Td ( ) Tj ET Q q 0 0 0 rg BT 374.07 78.60 Td (was ) Tj ET Q q 0 0 0 rg BT 388.56 78.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.82 78.60 Td (2.6 ) Tj ET Q q 0 0 0 rg BT 416.87 78.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.98 78.60 Td (, ) Tj ET Q q 0 0 0 rg BT 444.02 78.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.29 78.60 Td (2.2 ) Tj ET Q q 0 0 0 rg BT 472.33 78.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.44 78.60 Td ( ) Tj ET Q q 0 0 0 rg BT 497.48 78.60 Td (and ) Tj ET Q q 0 0 0 rg BT 511.07 78.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.34 78.60 Td (3.2 ) Tj ET Q q 0 0 0 rg BT 539.38 78.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 562.50 78.60 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 69.00 Td (which ) Tj ET Q q 0 0 0 rg BT 71.05 69.00 Td (represents ) Tj ET Q q 0 0 0 rg BT 105.48 69.00 Td (the ) Tj ET Q q 0 0 0 rg BT 117.25 69.00 Td (net ) Tj ET Q q 0 0 0 rg BT 129.03 69.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 145.24 69.00 Td (flows ) Tj ET Q q 0 0 0 rg BT 165.02 69.00 Td (used ) Tj ET Q q 0 0 0 rg BT 181.68 69.00 Td (in ) Tj ET Q q 0 0 0 rg BT 189.91 69.00 Td (our ) Tj ET Q q 0 0 0 rg BT 202.57 69.00 Td (discontinued ) Tj ET Q q 0 0 0 rg BT 245.45 69.00 Td (operations ) Tj ET Q q 0 0 0 rg BT 280.78 69.00 Td (\(see ) Tj ET Q q 0 0 0 rg BT 295.66 69.00 Td (Item ) Tj ET Q q 0 0 0 rg BT 312.32 69.00 Td (8, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 320.32 69.00 Td (Note ) Tj ET Q q 0 0 0 rg BT 337.87 69.00 Td (3, ) Tj ET Q q 0 0 0 rg BT 345.87 69.00 Td ("Discontinued ) Tj ET Q q 0 0 0 rg BT 393.79 69.00 Td (Operations ) Tj ET Q q 0 0 0 rg BT 430.89 69.00 Td (and ) Tj ET Q q 0 0 0 rg BT 444.00 69.00 Td (Assets ) Tj ET Q q 0 0 0 rg BT 466.89 69.00 Td (Held ) Tj ET Q q 0 0 0 rg BT 484.45 69.00 Td (for ) Tj ET Q q 0 0 0 rg BT 495.77 69.00 Td (Sale") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 512.81 69.00 Td (\).) Tj ET Q endstream endobj 75 0 obj <>] /Rotate 0 /Contents 76 0 R>> endobj 76 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (35) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 723.60 Td (III\(b\) ) Tj ET Q q 0 0 0 rg BT 76.50 723.60 Td (Sour) Tj ET Q q 0 0 0 rg BT 92.80 723.60 Td (ces and Uses of Cash) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 708.00 Td (Our ) Tj ET Q q 0 0 0 rg BT 64.05 708.00 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 92.39 708.00 Td (source ) Tj ET Q q 0 0 0 rg BT 115.38 708.00 Td (of ) Tj ET Q q 0 0 0 rg BT 124.16 708.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 140.49 708.00 Td (is ) Tj ET Q q 0 0 0 rg BT 147.94 708.00 Td (primarily ) Tj ET Q q 0 0 0 rg BT 179.82 708.00 Td (the ) Tj ET Q q 0 0 0 rg BT 191.71 708.00 Td (receipt ) Tj ET Q q 0 0 0 rg BT 215.58 708.00 Td (of ) Tj ET Q q 0 0 0 rg BT 224.36 708.00 Td (payments ) Tj ET Q q 0 0 0 rg BT 257.13 708.00 Td (from ) Tj ET Q q 0 0 0 rg BT 274.80 708.00 Td (advertisers, ) Tj ET Q q 0 0 0 rg BT 313.56 708.00 Td (advertising ) Tj ET Q q 0 0 0 rg BT 351.22 708.00 Td (agencies ) Tj ET Q q 0 0 0 rg BT 380.88 708.00 Td (and ) Tj ET Q q 0 0 0 rg BT 394.54 708.00 Td (distributors ) Tj ET Q q 0 0 0 rg BT 433.10 708.00 Td (of ) Tj ET Q q 0 0 0 rg BT 441.88 708.00 Td (our ) Tj ET Q q 0 0 0 rg BT 454.65 708.00 Td (television ) Tj ET Q q 0 0 0 rg BT 487.87 708.00 Td (channels. ) Tj ET Q q 0 0 0 rg BT 519.82 708.00 Td (W) Tj ET Q q 0 0 0 rg BT 526.73 708.00 Td (e ) Tj ET Q q 0 0 0 rg BT 532.39 708.00 Td (also ) Tj ET Q q 0 0 0 rg BT 547.39 708.00 Td (have ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 698.40 Td (available ) Tj ET Q q 0 0 0 rg BT 80.44 698.40 Td (the ) Tj ET Q q 0 0 0 rg BT 92.27 698.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 110.34 698.40 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 145.73 698.40 Td (Credit ) Tj ET Q q 0 0 0 rg BT 167.79 698.40 Td (Facility ) Tj ET Q q 0 0 0 rg BT 194.30 698.40 Td (in ) Tj ET Q q 0 0 0 rg BT 202.59 698.40 Td (the ) Tj ET Q q 0 0 0 rg BT 214.43 698.40 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 247.58 698.40 Td (principal ) Tj ET Q q 0 0 0 rg BT 278.08 698.40 Td (amount ) Tj ET Q q 0 0 0 rg BT 304.14 698.40 Td (of ) Tj ET Q q 0 0 0 rg BT 312.87 698.40 Td (US$ ) Tj ET Q q 0 0 0 rg BT 329.16 698.40 Td (1) Tj ET Q q 0 0 0 rg BT 332.86 698.40 Td (15.0 ) Tj ET Q q 0 0 0 rg BT 348.93 698.40 Td (million ) Tj ET Q q 0 0 0 rg BT 374.10 698.40 Td (\(see ) Tj ET Q q 0 0 0 rg BT 389.05 698.40 Td (Item ) Tj ET Q q 0 0 0 rg BT 405.77 698.40 Td (8,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.77 698.40 Td (Note ) Tj ET Q q 0 0 0 rg BT 431.39 698.40 Td (5, ) Tj ET Q q 0 0 0 rg BT 439.45 698.40 Td ("Long-term ) Tj ET Q q 0 0 0 rg BT 478.99 698.40 Td (Debt ) Tj ET Q q 0 0 0 rg BT 496.61 698.40 Td (and ) Tj ET Q q 0 0 0 rg BT 510.22 698.40 Td (Other ) Tj ET Q q 0 0 0 rg BT 530.50 698.40 Td (Financing ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 688.80 Td (Arrangements") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 98.08 688.80 Td (\). ) Tj ET Q q 0 0 0 rg BT 104.49 688.80 Td (As ) Tj ET Q q 0 0 0 rg BT 115.62 688.80 Td (at ) Tj ET Q q 0 0 0 rg BT 123.63 688.80 Td (December ) Tj ET Q q 0 0 0 rg BT 158.74 688.80 Td (31, ) Tj ET Q q 0 0 0 rg BT 170.98 688.80 Td (2014, ) Tj ET Q q 0 0 0 rg BT 191.22 688.80 Td (the ) Tj ET Q q 0 0 0 rg BT 203.23 688.80 Td (undrawn ) Tj ET Q q 0 0 0 rg BT 233.46 688.80 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 266.79 688.80 Td (principal ) Tj ET Q q 0 0 0 rg BT 297.46 688.80 Td (amount ) Tj ET Q q 0 0 0 rg BT 323.70 688.80 Td (available ) Tj ET Q q 0 0 0 rg BT 354.81 688.80 Td (under ) Tj ET Q q 0 0 0 rg BT 375.26 688.80 Td (the ) Tj ET Q q 0 0 0 rg BT 387.28 688.80 Td (2017 ) Tj ET Q q 0 0 0 rg BT 405.52 688.80 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 441.09 688.80 Td (Credit ) Tj ET Q q 0 0 0 rg BT 463.32 688.80 Td (Facility ) Tj ET Q q 0 0 0 rg BT 490.00 688.80 Td (was ) Tj ET Q q 0 0 0 rg BT 504.68 688.80 Td (US$ ) Tj ET Q q 0 0 0 rg BT 521.15 688.80 Td (90.0 ) Tj ET Q q 0 0 0 rg BT 537.39 688.80 Td (million. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 679.20 Td (Surplus ) Tj ET Q q 0 0 0 rg BT 76.22 679.20 Td (cash, ) Tj ET Q q 0 0 0 rg BT 94.70 679.20 Td (after ) Tj ET Q q 0 0 0 rg BT 111.63 679.20 Td (funding ) Tj ET Q q 0 0 0 rg BT 138.78 679.20 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 167.27 679.20 Td (operations, ) Tj ET Q q 0 0 0 rg BT 204.87 679.20 Td (may ) Tj ET Q q 0 0 0 rg BT 220.91 679.20 Td (be ) Tj ET Q q 0 0 0 rg BT 230.73 679.20 Td (remitted ) Tj ET Q q 0 0 0 rg BT 259.66 679.20 Td (to ) Tj ET Q q 0 0 0 rg BT 268.15 679.20 Td (us, ) Tj ET Q q 0 0 0 rg BT 279.53 679.20 Td (where ) Tj ET Q q 0 0 0 rg BT 301.34 679.20 Td (appropriate, ) Tj ET Q q 0 0 0 rg BT 342.04 679.20 Td (by ) Tj ET Q q 0 0 0 rg BT 352.31 679.20 Td (our ) Tj ET Q q 0 0 0 rg BT 365.24 679.20 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 405.29 679.20 Td (in ) Tj ET Q q 0 0 0 rg BT 413.78 679.20 Td (the ) Tj ET Q q 0 0 0 rg BT 425.82 679.20 Td (form ) Tj ET Q q 0 0 0 rg BT 443.64 679.20 Td (of ) Tj ET Q q 0 0 0 rg BT 452.57 679.20 Td (debt ) Tj ET Q q 0 0 0 rg BT 468.62 679.20 Td (interest ) Tj ET Q q 0 0 0 rg BT 494.43 679.20 Td (payments ) Tj ET Q q 0 0 0 rg BT 527.36 679.20 Td (and ) Tj ET Q q 0 0 0 rg BT 541.18 679.20 Td (capital ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 669.60 Td (repayments, ) Tj ET Q q 0 0 0 rg BT 90.38 669.60 Td (dividends, ) Tj ET Q q 0 0 0 rg BT 125.48 669.60 Td (and ) Tj ET Q q 0 0 0 rg BT 139.04 669.60 Td (other ) Tj ET Q q 0 0 0 rg BT 157.47 669.60 Td (distributions ) Tj ET Q q 0 0 0 rg BT 199.48 669.60 Td (and ) Tj ET Q q 0 0 0 rg BT 213.03 669.60 Td (loans ) Tj ET Q q 0 0 0 rg BT 231.91 669.60 Td (from ) Tj ET Q q 0 0 0 rg BT 249.46 669.60 Td (our ) Tj ET Q q 0 0 0 rg BT 262.13 669.60 Td (subsidiaries.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 654.00 Td (Corporate ) Tj ET Q q 0 0 0 rg BT 82.89 654.00 Td (law ) Tj ET Q q 0 0 0 rg BT 95.84 654.00 Td (in ) Tj ET Q q 0 0 0 rg BT 103.47 654.00 Td (the ) Tj ET Q q 0 0 0 rg BT 114.64 654.00 Td (Central ) Tj ET Q q 0 0 0 rg BT 139.59 654.00 Td (and ) Tj ET Q q 0 0 0 rg BT 152.54 654.00 Td (Eastern ) Tj ET Q q 0 0 0 rg BT 177.93 654.00 Td (European ) Tj ET Q q 0 0 0 rg BT 209.98 654.00 Td (countries ) Tj ET Q q 0 0 0 rg BT 240.71 654.00 Td (in ) Tj ET Q q 0 0 0 rg BT 248.33 654.00 Td (which ) Tj ET Q q 0 0 0 rg BT 269.29 654.00 Td (we ) Tj ET Q q 0 0 0 rg BT 280.02 654.00 Td (operate ) Tj ET Q q 0 0 0 rg BT 304.96 654.00 Td (stipulates ) Tj ET Q q 0 0 0 rg BT 336.58 654.00 Td (generally ) Tj ET Q q 0 0 0 rg BT 367.74 654.00 Td (that ) Tj ET Q q 0 0 0 rg BT 381.14 654.00 Td (dividends ) Tj ET Q q 0 0 0 rg BT 413.65 654.00 Td (may ) Tj ET Q q 0 0 0 rg BT 428.82 654.00 Td (be ) Tj ET Q q 0 0 0 rg BT 437.77 654.00 Td (declared ) Tj ET Q q 0 0 0 rg BT 466.27 654.00 Td (by ) Tj ET Q q 0 0 0 rg BT 475.67 654.00 Td (the ) Tj ET Q q 0 0 0 rg BT 486.84 654.00 Td (partners ) Tj ET Q q 0 0 0 rg BT 514.01 654.00 Td (or ) Tj ET Q q 0 0 0 rg BT 522.07 654.00 Td (shareholders ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 644.40 Td (out ) Tj ET Q q 0 0 0 rg BT 62.25 644.40 Td (of ) Tj ET Q q 0 0 0 rg BT 71.44 644.40 Td (yearly ) Tj ET Q q 0 0 0 rg BT 93.96 644.40 Td (profits ) Tj ET Q q 0 0 0 rg BT 117.38 644.40 Td (subject ) Tj ET Q q 0 0 0 rg BT 142.56 644.40 Td (to ) Tj ET Q q 0 0 0 rg BT 151.31 644.40 Td (the ) Tj ET Q q 0 0 0 rg BT 163.62 644.40 Td (maintenance ) Tj ET Q q 0 0 0 rg BT 206.57 644.40 Td (of ) Tj ET Q q 0 0 0 rg BT 215.76 644.40 Td (registered ) Tj ET Q q 0 0 0 rg BT 249.83 644.40 Td (capital, ) Tj ET Q q 0 0 0 rg BT 275.67 644.40 Td (required ) Tj ET Q q 0 0 0 rg BT 304.86 644.40 Td (reserves ) Tj ET Q q 0 0 0 rg BT 333.59 644.40 Td (and ) Tj ET Q q 0 0 0 rg BT 347.67 644.40 Td (after ) Tj ET Q q 0 0 0 rg BT 364.85 644.40 Td (the ) Tj ET Q q 0 0 0 rg BT 377.15 644.40 Td (recovery ) Tj ET Q q 0 0 0 rg BT 407.66 644.40 Td (of ) Tj ET Q q 0 0 0 rg BT 416.85 644.40 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 459.80 644.40 Td (losses. ) Tj ET Q q 0 0 0 rg BT 483.26 644.40 Td (The ) Tj ET Q q 0 0 0 rg BT 498.23 644.40 Td (reserve ) Tj ET Q q 0 0 0 rg BT 523.85 644.40 Td (requirement ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 634.80 Td (restriction ) Tj ET Q q 0 0 0 rg BT 83.94 634.80 Td (generally ) Tj ET Q q 0 0 0 rg BT 115.70 634.80 Td (provides ) Tj ET Q q 0 0 0 rg BT 145.25 634.80 Td (that ) Tj ET Q q 0 0 0 rg BT 159.25 634.80 Td (before ) Tj ET Q q 0 0 0 rg BT 181.69 634.80 Td (dividends ) Tj ET Q q 0 0 0 rg BT 214.80 634.80 Td (may ) Tj ET Q q 0 0 0 rg BT 230.58 634.80 Td (be ) Tj ET Q q 0 0 0 rg BT 240.13 634.80 Td (distributed, ) Tj ET Q q 0 0 0 rg BT 278.35 634.80 Td (a ) Tj ET Q q 0 0 0 rg BT 283.90 634.80 Td (portion ) Tj ET Q q 0 0 0 rg BT 309.02 634.80 Td (of ) Tj ET Q q 0 0 0 rg BT 317.68 634.80 Td (annual ) Tj ET Q q 0 0 0 rg BT 341.01 634.80 Td (net ) Tj ET Q q 0 0 0 rg BT 352.79 634.80 Td (profits ) Tj ET Q q 0 0 0 rg BT 375.68 634.80 Td (\(typically ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.34 634.80 Td (5.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.00 634.80 Td (\) ) Tj ET Q q 0 0 0 rg BT 429.67 634.80 Td (be ) Tj ET Q q 0 0 0 rg BT 439.22 634.80 Td (allocated ) Tj ET Q q 0 0 0 rg BT 470.09 634.80 Td (to ) Tj ET Q q 0 0 0 rg BT 478.32 634.80 Td (a ) Tj ET Q q 0 0 0 rg BT 483.87 634.80 Td (reserve, ) Tj ET Q q 0 0 0 rg BT 510.97 634.80 Td (which ) Tj ET Q q 0 0 0 rg BT 532.52 634.80 Td (is ) Tj ET Q q 0 0 0 rg BT 539.86 634.80 Td (capped ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 625.20 Td (at ) Tj ET Q q 0 0 0 rg BT 56.78 625.20 Td (a ) Tj ET Q q 0 0 0 rg BT 61.85 625.20 Td (proportion ) Tj ET Q q 0 0 0 rg BT 97.13 625.20 Td (of ) Tj ET Q q 0 0 0 rg BT 105.30 625.20 Td (the ) Tj ET Q q 0 0 0 rg BT 116.59 625.20 Td (registered ) Tj ET Q q 0 0 0 rg BT 149.64 625.20 Td (capital ) Tj ET Q q 0 0 0 rg BT 172.47 625.20 Td (of ) Tj ET Q q 0 0 0 rg BT 180.64 625.20 Td (a ) Tj ET Q q 0 0 0 rg BT 185.71 625.20 Td (company ) Tj ET Q q 0 0 0 rg BT 216.54 625.20 Td (\(ranging ) Tj ET Q q 0 0 0 rg BT 245.15 625.20 Td (from ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 262.21 625.20 Td (5.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.88 625.20 Td ( ) Tj ET Q q 0 0 0 rg BT 280.39 625.20 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.12 625.20 Td (25.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 308.79 625.20 Td (\). ) Tj ET Q q 0 0 0 rg BT 314.85 625.20 Td (The ) Tj ET Q q 0 0 0 rg BT 328.80 625.20 Td (restricted ) Tj ET Q q 0 0 0 rg BT 360.07 625.20 Td (net ) Tj ET Q q 0 0 0 rg BT 371.36 625.20 Td (assets ) Tj ET Q q 0 0 0 rg BT 391.53 625.20 Td (of ) Tj ET Q q 0 0 0 rg BT 399.71 625.20 Td (our ) Tj ET Q q 0 0 0 rg BT 411.88 625.20 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 453.83 625.20 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 493.11 625.20 Td (and ) Tj ET Q q 0 0 0 rg BT 506.17 625.20 Td (equity ) Tj ET Q q 0 0 0 rg BT 527.68 625.20 Td (in ) Tj ET Q q 0 0 0 rg BT 535.41 625.20 Td (earnings ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 615.60 Td (of ) Tj ET Q q 0 0 0 rg BT 58.16 615.60 Td (investments ) Tj ET Q q 0 0 0 rg BT 98.38 615.60 Td (accounted ) Tj ET Q q 0 0 0 rg BT 132.81 615.60 Td (for ) Tj ET Q q 0 0 0 rg BT 144.14 615.60 Td (under ) Tj ET Q q 0 0 0 rg BT 164.35 615.60 Td (the ) Tj ET Q q 0 0 0 rg BT 176.13 615.60 Td (equity ) Tj ET Q q 0 0 0 rg BT 198.12 615.60 Td (method ) Tj ET Q q 0 0 0 rg BT 224.12 615.60 Td (together) Tj ET Q q 0 0 0 rg BT 250.01 615.60 Td (, ) Tj ET Q q 0 0 0 rg BT 254.01 615.60 Td (are ) Tj ET Q q 0 0 0 rg BT 265.77 615.60 Td (less ) Tj ET Q q 0 0 0 rg BT 279.77 615.60 Td (than ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.55 615.60 Td (25.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 316.21 615.60 Td ( ) Tj ET Q q 0 0 0 rg BT 318.21 615.60 Td (of ) Tj ET Q q 0 0 0 rg BT 326.88 615.60 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 369.31 615.60 Td (net ) Tj ET Q q 0 0 0 rg BT 381.08 615.60 Td (assets.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 594.00 Td (III\(c\) ) Tj ET Q q 0 0 0 rg BT 76.50 594.00 Td (Contractual Obligations, Commitments and Off-Balance Sheet ) Tj ET Q q 0 0 0 rg BT 292.27 594.00 Td (Arrangements) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 578.40 Td (Our ) Tj ET Q q 0 0 0 rg BT 63.94 578.40 Td (future ) Tj ET Q q 0 0 0 rg BT 85.04 578.40 Td (contractual ) Tj ET Q q 0 0 0 rg BT 122.58 578.40 Td (obligations ) Tj ET Q q 0 0 0 rg BT 160.13 578.40 Td (as ) Tj ET Q q 0 0 0 rg BT 168.80 578.40 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 176.57 578.40 Td (December31, ) Tj ET Q q 0 0 0 rg BT 223.44 578.40 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 239.44 578.40 Td ( ) Tj ET Q q 0 0 0 rg BT 241.44 578.40 Td (were ) Tj ET Q q 0 0 0 rg BT 258.98 578.40 Td (as ) Tj ET Q q 0 0 0 rg BT 267.64 578.40 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 522.90 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 522.90 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 522.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 522.90 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 522.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 522.90 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 522.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 522.90 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 522.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 522.90 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 492.90 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 492.90 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 492.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 492.90 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 492.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 492.90 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 492.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 492.90 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 492.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 492.90 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 462.90 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 462.90 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 462.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 462.90 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 462.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 462.90 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 462.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 462.90 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 462.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 462.90 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 432.90 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 432.90 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 432.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 432.90 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 432.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 432.90 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 432.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 432.90 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 432.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 432.90 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 246 546.9 m 306 546.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 306 546.9 m 310 546.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310 546.9 m 370 546.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 370 546.9 m 374 546.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 374 546.9 m 434 546.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 434 546.9 m 438 546.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 438 546.9 m 498 546.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498 546.9 m 502 546.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502 546.9 m 562 546.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 246 522.9 m 306 522.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310 522.9 m 370 522.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 374 522.9 m 434 522.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 438 522.9 m 498 522.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502 522.9 m 562 522.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310 522.9 m 370 522.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 374 522.9 m 434 522.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 438 522.9 m 498 522.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502 522.9 m 562 522.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 432.9 m 306 432.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 418.9 m 306 418.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 416.9 m 306 416.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 432.9 m 370 432.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 418.9 m 370 418.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 416.9 m 370 416.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 432.9 m 434 432.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 418.9 m 434 418.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 416.9 m 434 416.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 432.9 m 498 432.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 418.9 m 498 418.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 416.9 m 498 416.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 432.9 m 562 432.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 418.9 m 562 418.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 416.9 m 562 416.9 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 551.15 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 341.75 551.13 Td (Payments due by period \(US$ 000s\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 527.15 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 285.00 527.13 Td (Total) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 327.80 535.13 Td (Less than 1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 351.50 527.13 Td (year) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.60 527.13 Td (1-3 years) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.60 527.13 Td (3-5 years) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.40 535.13 Td (More than 5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.25 527.13 Td (years) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 512.15 Td (Long-term ) Tj ET Q q 0 0 0 rg BT 88.71 512.15 Td (debt ) Tj ET Q q 0 0 0 rg BT 104.48 512.15 Td ( ) Tj ET Q q 0 0 0 rg BT 110.48 512.15 Td (principal) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 248.50 512.15 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 270.75 512.15 Td (1,061,818) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.50 512.15 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.80 512.15 Td (261,039) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.50 512.15 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.80 512.15 Td (797,757) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.50 512.15 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.80 512.15 Td (774) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 504.50 512.15 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 512.15 Td (2,248) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 497.15 Td (Long-term ) Tj ET Q q 0 0 0 rg BT 88.71 497.15 Td (debt ) Tj ET Q q 0 0 0 rg BT 104.48 497.15 Td ( ) Tj ET Q q 0 0 0 rg BT 110.48 497.15 Td (interest) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 276.80 497.15 Td (361,627) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.80 497.15 Td (19,202) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.80 497.15 Td (338,849) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.80 497.15 Td (3,576) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 497.15 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 482.15 Td (Unconditional ) Tj ET Q q 0 0 0 rg BT 100.27 482.15 Td (purchase ) Tj ET Q q 0 0 0 rg BT 130.70 482.15 Td (obligations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 276.80 482.15 Td (181,803) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.80 482.15 Td (68,653) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.80 482.15 Td (96,692) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.80 482.15 Td (14,691) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 482.15 Td (1,767) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 467.15 Td (Operating ) Tj ET Q q 0 0 0 rg BT 86.49 467.15 Td (leases) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 284.80 467.15 Td (7,190) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 348.80 467.15 Td (3,219) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.80 467.15 Td (2,247) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.80 467.15 Td (594) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 467.15 Td (1,130) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 452.15 Td (Capital ) Tj ET Q q 0 0 0 rg BT 77.61 452.15 Td (lease ) Tj ET Q q 0 0 0 rg BT 95.59 452.15 Td (obligations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 284.80 452.15 Td (3,867) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 348.80 452.15 Td (1,143) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.80 452.15 Td (1,788) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.80 452.15 Td (854) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 452.15 Td (82) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 437.15 Td (Other ) Tj ET Q q 0 0 0 rg BT 72.71 437.15 Td (long-term ) Tj ET Q q 0 0 0 rg BT 106.26 437.15 Td (obligations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.80 437.15 Td (53,357) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.80 437.15 Td (22,416) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.80 437.15 Td (16,570) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.80 437.15 Td (13,960) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 437.15 Td (411) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 422.13 Td (T) Tj ET Q q 0 0 0 rg BT 57.10 422.13 Td (otal ) Tj ET Q q 0 0 0 rg BT 71.99 422.13 Td (contractual ) Tj ET Q q 0 0 0 rg BT 113.09 422.13 Td (obligations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 248.50 422.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 270.75 422.13 Td (1,669,662) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.50 422.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 340.80 422.13 Td (375,672) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.50 422.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 398.75 422.13 Td (1,253,903) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.50 422.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.80 422.13 Td (34,449) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 504.50 422.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.80 422.13 Td (5,638) Tj ET Q BT /F1 8.00 Tf ET BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 399.80 Td (Long-T) Tj ET Q q 0 0 0 rg BT 72.33 399.80 Td (erm ) Tj ET Q q 0 0 0 rg BT 86.77 399.80 Td (Debt) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 384.20 Td (For ) Tj ET Q q 0 0 0 rg BT 62.54 384.20 Td (more ) Tj ET Q q 0 0 0 rg BT 80.90 384.20 Td (information ) Tj ET Q q 0 0 0 rg BT 120.59 384.20 Td (on ) Tj ET Q q 0 0 0 rg BT 130.51 384.20 Td (our ) Tj ET Q q 0 0 0 rg BT 143.10 384.20 Td (long-term ) Tj ET Q q 0 0 0 rg BT 176.57 384.20 Td (debt, ) Tj ET Q q 0 0 0 rg BT 194.26 384.20 Td (see ) Tj ET Q q 0 0 0 rg BT 206.40 384.20 Td (Item ) Tj ET Q q 0 0 0 rg BT 222.99 384.20 Td (8, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 230.91 384.20 Td (Note ) Tj ET Q q 0 0 0 rg BT 248.38 384.20 Td (5, ) Tj ET Q q 0 0 0 rg BT 256.30 384.20 Td ("Long-term ) Tj ET Q q 0 0 0 rg BT 295.70 384.20 Td (Debt ) Tj ET Q q 0 0 0 rg BT 313.18 384.20 Td (and ) Tj ET Q q 0 0 0 rg BT 326.65 384.20 Td (Other ) Tj ET Q q 0 0 0 rg BT 346.79 384.20 Td (Financing ) Tj ET Q q 0 0 0 rg BT 380.28 384.20 Td (Arrangements") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.87 384.20 Td (. ) Tj ET Q q 0 0 0 rg BT 432.79 384.20 Td (Interest ) Tj ET Q q 0 0 0 rg BT 458.70 384.20 Td (payable ) Tj ET Q q 0 0 0 rg BT 485.50 384.20 Td (on ) Tj ET Q q 0 0 0 rg BT 495.42 384.20 Td (our ) Tj ET Q q 0 0 0 rg BT 508.01 384.20 Td (long-term ) Tj ET Q q 0 0 0 rg BT 541.48 384.20 Td (debt ) Tj ET Q q 0 0 0 rg BT 557.17 384.20 Td (is ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 374.60 Td (calculated ) Tj ET Q q 0 0 0 rg BT 83.84 374.60 Td (using ) Tj ET Q q 0 0 0 rg BT 103.10 374.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 128.56 374.60 Td (rates ) Tj ET Q q 0 0 0 rg BT 145.58 374.60 Td (and ) Tj ET Q q 0 0 0 rg BT 159.05 374.60 Td (exchange ) Tj ET Q q 0 0 0 rg BT 191.17 374.60 Td (rates ) Tj ET Q q 0 0 0 rg BT 208.19 374.60 Td (as ) Tj ET Q q 0 0 0 rg BT 216.78 374.60 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 224.47 374.60 Td (December31, ) Tj ET Q q 0 0 0 rg BT 271.26 374.60 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 287.26 374.60 Td (. ) Tj ET Q q 0 0 0 rg BT 291.17 374.60 Td (For ) Tj ET Q q 0 0 0 rg BT 304.21 374.60 Td (the ) Tj ET Q q 0 0 0 rg BT 315.90 374.60 Td (purposes ) Tj ET Q q 0 0 0 rg BT 346.26 374.60 Td (of ) Tj ET Q q 0 0 0 rg BT 354.84 374.60 Td (the ) Tj ET Q q 0 0 0 rg BT 366.54 374.60 Td (above ) Tj ET Q q 0 0 0 rg BT 387.56 374.60 Td (table, ) Tj ET Q q 0 0 0 rg BT 407.02 374.60 Td (it ) Tj ET Q q 0 0 0 rg BT 413.39 374.60 Td (is ) Tj ET Q q 0 0 0 rg BT 420.64 374.60 Td (assumed ) Tj ET Q q 0 0 0 rg BT 450.11 374.60 Td (that ) Tj ET Q q 0 0 0 rg BT 464.03 374.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 489.49 374.60 Td (on ) Tj ET Q q 0 0 0 rg BT 499.41 374.60 Td (the ) Tj ET Q q 0 0 0 rg BT 511.10 374.60 Td (2017 ) Tj ET Q q 0 0 0 rg BT 529.02 374.60 Td (PIK ) Tj ET Q q 0 0 0 rg BT 543.83 374.60 Td (Notes ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 365.00 Td (and ) Tj ET Q q 0 0 0 rg BT 62.94 365.00 Td (the ) Tj ET Q q 0 0 0 rg BT 74.61 365.00 Td (2017 ) Tj ET Q q 0 0 0 rg BT 92.37 365.00 Td (T) Tj ET Q q 0 0 0 rg BT 96.69 365.00 Td (erm ) Tj ET Q q 0 0 0 rg BT 111.02 365.00 Td (Loan ) Tj ET Q q 0 0 0 rg BT 129.35 365.00 Td (will ) Tj ET Q q 0 0 0 rg BT 143.69 365.00 Td (be ) Tj ET Q q 0 0 0 rg BT 153.13 365.00 Td (paid ) Tj ET Q q 0 0 0 rg BT 168.80 365.00 Td (in ) Tj ET Q q 0 0 0 rg BT 176.92 365.00 Td (kind ) Tj ET Q q 0 0 0 rg BT 193.03 365.00 Td (at ) Tj ET Q q 0 0 0 rg BT 200.70 365.00 Td (each ) Tj ET Q q 0 0 0 rg BT 217.24 365.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 242.68 365.00 Td (payment ) Tj ET Q q 0 0 0 rg BT 272.12 365.00 Td (date ) Tj ET Q q 0 0 0 rg BT 287.34 365.00 Td (up ) Tj ET Q q 0 0 0 rg BT 297.23 365.00 Td (to ) Tj ET Q q 0 0 0 rg BT 305.35 365.00 Td (maturity ) Tj ET Q q 0 0 0 rg BT 334.34 365.00 Td (on ) Tj ET Q q 0 0 0 rg BT 344.24 365.00 Td (December1,2017. ) Tj ET Q q 0 0 0 rg BT 406.58 365.00 Td (Additionally) Tj ET Q q 0 0 0 rg BT 446.50 365.00 Td (, ) Tj ET Q q 0 0 0 rg BT 450.39 365.00 Td (any ) Tj ET Q q 0 0 0 rg BT 463.84 365.00 Td (amounts ) Tj ET Q q 0 0 0 rg BT 492.84 365.00 Td (drawn ) Tj ET Q q 0 0 0 rg BT 514.72 365.00 Td (under ) Tj ET Q q 0 0 0 rg BT 534.83 365.00 Td (the ) Tj ET Q q 0 0 0 rg BT 546.50 365.00 Td (2017 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 355.40 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 84.44 355.40 Td (Credit ) Tj ET Q q 0 0 0 rg BT 106.04 355.40 Td (Facility) Tj ET Q q 0 0 0 rg BT 129.96 355.40 Td (, ) Tj ET Q q 0 0 0 rg BT 133.57 355.40 Td (and ) Tj ET Q q 0 0 0 rg BT 146.73 355.40 Td (the ) Tj ET Q q 0 0 0 rg BT 158.11 355.40 Td (related ) Tj ET Q q 0 0 0 rg BT 181.48 355.40 Td (interest ) Tj ET Q q 0 0 0 rg BT 206.63 355.40 Td (thereon, ) Tj ET Q q 0 0 0 rg BT 234.23 355.40 Td (are ) Tj ET Q q 0 0 0 rg BT 245.60 355.40 Td (assumed ) Tj ET Q q 0 0 0 rg BT 274.76 355.40 Td (to ) Tj ET Q q 0 0 0 rg BT 282.59 355.40 Td (be ) Tj ET Q q 0 0 0 rg BT 291.75 355.40 Td (repaid ) Tj ET Q q 0 0 0 rg BT 313.35 355.40 Td (at ) Tj ET Q q 0 0 0 rg BT 320.73 355.40 Td (maturity ) Tj ET Q q 0 0 0 rg BT 349.44 355.40 Td (on ) Tj ET Q q 0 0 0 rg BT 359.05 355.40 Td (December ) Tj ET Q q 0 0 0 rg BT 393.52 355.40 Td (1, ) Tj ET Q q 0 0 0 rg BT 401.13 355.40 Td (2017, ) Tj ET Q q 0 0 0 rg BT 420.74 355.40 Td (although ) Tj ET Q q 0 0 0 rg BT 450.34 355.40 Td (actual ) Tj ET Q q 0 0 0 rg BT 471.04 355.40 Td (repayment ) Tj ET Q q 0 0 0 rg BT 506.41 355.40 Td (may ) Tj ET Q q 0 0 0 rg BT 521.79 355.40 Td (occur ) Tj ET Q q 0 0 0 rg BT 541.17 355.40 Td (sooner ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 345.80 Td (based ) Tj ET Q q 0 0 0 rg BT 69.71 345.80 Td (on ) Tj ET Q q 0 0 0 rg BT 79.71 345.80 Td (cash ) Tj ET Q q 0 0 0 rg BT 95.93 345.80 Td (amounts ) Tj ET Q q 0 0 0 rg BT 125.04 345.80 Td (available ) Tj ET Q q 0 0 0 rg BT 155.91 345.80 Td (and ) Tj ET Q q 0 0 0 rg BT 169.46 345.80 Td (expected ) Tj ET Q q 0 0 0 rg BT 199.89 345.80 Td (cash ) Tj ET Q q 0 0 0 rg BT 216.10 345.80 Td (requirements.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 330.20 Td (The ) Tj ET Q q 0 0 0 rg BT 63.85 330.20 Td (amount ) Tj ET Q q 0 0 0 rg BT 89.76 330.20 Td (due ) Tj ET Q q 0 0 0 rg BT 103.22 330.20 Td (in ) Tj ET Q q 0 0 0 rg BT 111.35 330.20 Td (less ) Tj ET Q q 0 0 0 rg BT 125.26 330.20 Td (than ) Tj ET Q q 0 0 0 rg BT 140.95 330.20 Td (one ) Tj ET Q q 0 0 0 rg BT 154.41 330.20 Td (year ) Tj ET Q q 0 0 0 rg BT 170.09 330.20 Td (includes ) Tj ET Q q 0 0 0 rg BT 198.66 330.20 Td (the ) Tj ET Q q 0 0 0 rg BT 210.34 330.20 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 249.58 330.20 Td (principal ) Tj ET Q q 0 0 0 rg BT 279.93 330.20 Td (amount ) Tj ET Q q 0 0 0 rg BT 305.84 330.20 Td (of ) Tj ET Q q 0 0 0 rg BT 314.41 330.20 Td (the ) Tj ET Q q 0 0 0 rg BT 326.10 330.20 Td (2015 ) Tj ET Q q 0 0 0 rg BT 344.01 330.20 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 383.69 330.20 Td (Notes ) Tj ET Q q 0 0 0 rg BT 404.26 330.20 Td (due ) Tj ET Q q 0 0 0 rg BT 417.73 330.20 Td (November ) Tj ET Q q 0 0 0 rg BT 453.40 330.20 Td (15, ) Tj ET Q q 0 0 0 rg BT 465.31 330.20 Td (2015. ) Tj ET Q q 0 0 0 rg BT 485.22 330.20 Td (On ) Tj ET Q q 0 0 0 rg BT 496.91 330.20 Td (November ) Tj ET Q q 0 0 0 rg BT 532.59 330.20 Td (14, ) Tj ET Q q 0 0 0 rg BT 544.50 330.20 Td (2014, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 320.60 Td (we ) Tj ET Q q 0 0 0 rg BT 60.81 320.60 Td (entered ) Tj ET Q q 0 0 0 rg BT 86.33 320.60 Td (into ) Tj ET Q q 0 0 0 rg BT 100.76 320.60 Td (the ) Tj ET Q q 0 0 0 rg BT 112.52 320.60 Td (2015 ) Tj ET Q q 0 0 0 rg BT 130.50 320.60 Td (Refinancing ) Tj ET Q q 0 0 0 rg BT 171.58 320.60 Td (Commitment ) Tj ET Q q 0 0 0 rg BT 215.78 320.60 Td (Letter ) Tj ET Q q 0 0 0 rg BT 236.86 320.60 Td (regarding ) Tj ET Q q 0 0 0 rg BT 269.50 320.60 Td (the ) Tj ET Q q 0 0 0 rg BT 281.25 320.60 Td (refinancing ) Tj ET Q q 0 0 0 rg BT 319.66 320.60 Td (of ) Tj ET Q q 0 0 0 rg BT 328.31 320.60 Td (the ) Tj ET Q q 0 0 0 rg BT 340.06 320.60 Td (2015 ) Tj ET Q q 0 0 0 rg BT 358.05 320.60 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 397.80 320.60 Td (Notes ) Tj ET Q q 0 0 0 rg BT 418.45 320.60 Td (at ) Tj ET Q q 0 0 0 rg BT 426.20 320.60 Td (or ) Tj ET Q q 0 0 0 rg BT 434.85 320.60 Td (immediately ) Tj ET Q q 0 0 0 rg BT 476.82 320.60 Td (prior ) Tj ET Q q 0 0 0 rg BT 494.35 320.60 Td (to ) Tj ET Q q 0 0 0 rg BT 502.56 320.60 Td (their ) Tj ET Q q 0 0 0 rg BT 519.20 320.60 Td (maturity ) Tj ET Q q 0 0 0 rg BT 548.29 320.60 Td (with ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 311.00 Td (a ) Tj ET Q q 0 0 0 rg BT 55.05 311.00 Td (new ) Tj ET Q q 0 0 0 rg BT 70.38 311.00 Td (facility ) Tj ET Q q 0 0 0 rg BT 95.04 311.00 Td (which ) Tj ET Q q 0 0 0 rg BT 116.59 311.00 Td (will ) Tj ET Q q 0 0 0 rg BT 131.03 311.00 Td (mature ) Tj ET Q q 0 0 0 rg BT 155.24 311.00 Td (in ) Tj ET Q q 0 0 0 rg BT 163.46 311.00 Td (2019.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 292.40 Td (Unconditional ) Tj ET Q q 0 0 0 rg BT 97.72 292.40 Td (Pur) Tj ET Q q 0 0 0 rg BT 109.42 292.40 Td (chase ) Tj ET Q q 0 0 0 rg BT 129.64 292.40 Td (Obligations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 276.80 Td (Unconditional ) Tj ET Q q 0 0 0 rg BT 98.05 276.80 Td (purchase ) Tj ET Q q 0 0 0 rg BT 129.26 276.80 Td (obligations ) Tj ET Q q 0 0 0 rg BT 167.59 276.80 Td (primarily ) Tj ET Q q 0 0 0 rg BT 200.14 276.80 Td (comprise ) Tj ET Q q 0 0 0 rg BT 232.24 276.80 Td (future ) Tj ET Q q 0 0 0 rg BT 254.13 276.80 Td (programming ) Tj ET Q q 0 0 0 rg BT 300.45 276.80 Td (commitments.) Tj ET Q q 0 0 0 rg BT 347.56 276.80 Td (At ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.34 276.80 Td (December31, ) Tj ET Q q 0 0 0 rg BT 405.99 276.80 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.99 276.80 Td (, ) Tj ET Q q 0 0 0 rg BT 426.77 276.80 Td (we ) Tj ET Q q 0 0 0 rg BT 438.87 276.80 Td (had ) Tj ET Q q 0 0 0 rg BT 453.20 276.80 Td (commitments ) Tj ET Q q 0 0 0 rg BT 499.53 276.80 Td (in ) Tj ET Q q 0 0 0 rg BT 508.54 276.80 Td (respect ) Tj ET Q q 0 0 0 rg BT 533.97 276.80 Td (of ) Tj ET Q q 0 0 0 rg BT 543.41 276.80 Td (future ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 267.20 Td (programming ) Tj ET Q q 0 0 0 rg BT 95.05 267.20 Td (of ) Tj ET Q q 0 0 0 rg BT 103.71 267.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 119.94 267.20 Td (177.8 ) Tj ET Q q 0 0 0 rg BT 139.94 267.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 163.05 267.20 Td (. ) Tj ET Q q 0 0 0 rg BT 166.91 267.20 Td (This ) Tj ET Q q 0 0 0 rg BT 183.13 267.20 Td (includes ) Tj ET Q q 0 0 0 rg BT 211.79 267.20 Td (contracts ) Tj ET Q q 0 0 0 rg BT 242.66 267.20 Td (signed ) Tj ET Q q 0 0 0 rg BT 265.55 267.20 Td (with ) Tj ET Q q 0 0 0 rg BT 281.77 267.20 Td (license ) Tj ET Q q 0 0 0 rg BT 305.98 267.20 Td (periods ) Tj ET Q q 0 0 0 rg BT 331.54 267.20 Td (starting ) Tj ET Q q 0 0 0 rg BT 357.53 267.20 Td (after ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.18 267.20 Td (December31, ) Tj ET Q q 0 0 0 rg BT 421.05 267.20 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.05 267.20 Td (.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 248.60 Td (Operating ) Tj ET Q q 0 0 0 rg BT 84.39 248.60 Td (Leases) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 233.00 Td (For ) Tj ET Q q 0 0 0 rg BT 62.61 233.00 Td (more ) Tj ET Q q 0 0 0 rg BT 81.05 233.00 Td (information ) Tj ET Q q 0 0 0 rg BT 120.82 233.00 Td (on ) Tj ET Q q 0 0 0 rg BT 130.82 233.00 Td (our ) Tj ET Q q 0 0 0 rg BT 143.48 233.00 Td (operating ) Tj ET Q q 0 0 0 rg BT 175.70 233.00 Td (lease ) Tj ET Q q 0 0 0 rg BT 193.68 233.00 Td (commitments ) Tj ET Q q 0 0 0 rg BT 239.23 233.00 Td (see ) Tj ET Q q 0 0 0 rg BT 251.45 233.00 Td (Item ) Tj ET Q q 0 0 0 rg BT 268.11 233.00 Td (8, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 276.11 233.00 Td (Note ) Tj ET Q q 0 0 0 rg BT 293.66 233.00 Td (21, ) Tj ET Q q 0 0 0 rg BT 305.66 233.00 Td ("Commitments ) Tj ET Q q 0 0 0 rg BT 356.26 233.00 Td (and ) Tj ET Q q 0 0 0 rg BT 369.81 233.00 Td (Contingencies") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.85 233.00 Td (.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 214.40 Td (Other ) Tj ET Q q 0 0 0 rg BT 70.16 214.40 Td (Long-T) Tj ET Q q 0 0 0 rg BT 92.99 214.40 Td (erm ) Tj ET Q q 0 0 0 rg BT 107.43 214.40 Td (Obligations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 198.80 Td (Other ) Tj ET Q q 0 0 0 rg BT 69.71 198.80 Td (long-term ) Tj ET Q q 0 0 0 rg BT 103.26 198.80 Td (obligations ) Tj ET Q q 0 0 0 rg BT 140.82 198.80 Td (are ) Tj ET Q q 0 0 0 rg BT 152.58 198.80 Td (primarily ) Tj ET Q q 0 0 0 rg BT 184.35 198.80 Td (comprised ) Tj ET Q q 0 0 0 rg BT 219.68 198.80 Td (of ) Tj ET Q q 0 0 0 rg BT 228.34 198.80 Td (digital ) Tj ET Q q 0 0 0 rg BT 250.78 198.80 Td (transmission ) Tj ET Q q 0 0 0 rg BT 293.23 198.80 Td (commitments.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 180.20 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 164.60 Td (T) Tj ET Q q 0 0 0 rg BT 53.83 164.60 Td (op ) Tj ET Q q 0 0 0 rg BT 63.27 164.60 Td (T) Tj ET Q q 0 0 0 rg BT 67.60 164.60 Td (one ) Tj ET Q q 0 0 0 rg BT 80.71 164.60 Td (Media ) Tj ET Q q 0 0 0 rg BT 102.70 164.60 Td (Holdings ) Tj ET Q q 0 0 0 rg BT 133.60 164.60 Td (Limited ) Tj ET Q q 0 0 0 rg BT 160.48 164.60 Td (has ) Tj ET Q q 0 0 0 rg BT 172.71 164.60 Td (exercised ) Tj ET Q q 0 0 0 rg BT 204.47 164.60 Td (its ) Tj ET Q q 0 0 0 rg BT 213.58 164.60 Td (right ) Tj ET Q q 0 0 0 rg BT 230.25 164.60 Td (to ) Tj ET Q q 0 0 0 rg BT 238.03 164.60 Td (acquire ) Tj ET Q q 0 0 0 rg BT 263.13 164.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 296.68 164.60 Td (equity ) Tj ET Q q 0 0 0 rg BT 318.23 164.60 Td (in ) Tj ET Q q 0 0 0 rg BT 326.01 164.60 Td (CME ) Tj ET Q q 0 0 0 rg BT 344.90 164.60 Td (Bulgaria ) Tj ET Q q 0 0 0 rg BT 374.01 164.60 Td (B.V) Tj ET Q q 0 0 0 rg BT 386.09 164.60 Td (. ) Tj ET Q q 0 0 0 rg BT 389.65 164.60 Td (If ) Tj ET Q q 0 0 0 rg BT 396.53 164.60 Td (consummated, ) Tj ET Q q 0 0 0 rg BT 444.52 164.60 Td (we ) Tj ET Q q 0 0 0 rg BT 455.41 164.60 Td (would ) Tj ET Q q 0 0 0 rg BT 476.97 164.60 Td (own ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.30 164.60 Td (90.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 512.97 164.60 Td ( ) Tj ET Q q 0 0 0 rg BT 514.52 164.60 Td (of ) Tj ET Q q 0 0 0 rg BT 522.75 164.60 Td (our ) Tj ET Q q 0 0 0 rg BT 534.97 164.60 Td (Bulgaria ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 155.00 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 82.15 155.00 Td (operations. ) Tj ET Q q 0 0 0 rg BT 119.33 155.00 Td (The ) Tj ET Q q 0 0 0 rg BT 133.77 155.00 Td (option ) Tj ET Q q 0 0 0 rg BT 156.21 155.00 Td (strike ) Tj ET Q q 0 0 0 rg BT 175.99 155.00 Td (price ) Tj ET Q q 0 0 0 rg BT 193.98 155.00 Td (is ) Tj ET Q q 0 0 0 rg BT 201.31 155.00 Td (the ) Tj ET Q q 0 0 0 rg BT 213.09 155.00 Td (fair ) Tj ET Q q 0 0 0 rg BT 226.19 155.00 Td (value ) Tj ET Q q 0 0 0 rg BT 245.51 155.00 Td (of ) Tj ET Q q 0 0 0 rg BT 254.18 155.00 Td (the ) Tj ET Q q 0 0 0 rg BT 265.95 155.00 Td (equity ) Tj ET Q q 0 0 0 rg BT 287.95 155.00 Td (in ) Tj ET Q q 0 0 0 rg BT 296.17 155.00 Td (CME ) Tj ET Q q 0 0 0 rg BT 315.50 155.00 Td (Bulgaria, ) Tj ET Q q 0 0 0 rg BT 347.05 155.00 Td (as ) Tj ET Q q 0 0 0 rg BT 355.71 155.00 Td (determined ) Tj ET Q q 0 0 0 rg BT 393.70 155.00 Td (by ) Tj ET Q q 0 0 0 rg BT 403.70 155.00 Td (an ) Tj ET Q q 0 0 0 rg BT 413.25 155.00 Td (independent ) Tj ET Q q 0 0 0 rg BT 454.35 155.00 Td (valuation.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 133.40 Td (III\(d\) ) Tj ET Q q 0 0 0 rg BT 76.50 133.40 Td (Cash Outlook) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 117.80 Td (Prior ) Tj ET Q q 0 0 0 rg BT 67.44 117.80 Td (to ) Tj ET Q q 0 0 0 rg BT 75.61 117.80 Td (the ) Tj ET Q q 0 0 0 rg BT 87.32 117.80 Td (dif) Tj ET Q q 0 0 0 rg BT 96.06 117.80 Td (ficult ) Tj ET Q q 0 0 0 rg BT 114.89 117.80 Td (economic ) Tj ET Q q 0 0 0 rg BT 147.93 117.80 Td (conditions ) Tj ET Q q 0 0 0 rg BT 183.20 117.80 Td (in ) Tj ET Q q 0 0 0 rg BT 191.36 117.80 Td (our ) Tj ET Q q 0 0 0 rg BT 203.97 117.80 Td (markets ) Tj ET Q q 0 0 0 rg BT 231.23 117.80 Td (that ) Tj ET Q q 0 0 0 rg BT 245.17 117.80 Td (began ) Tj ET Q q 0 0 0 rg BT 266.21 117.80 Td (at ) Tj ET Q q 0 0 0 rg BT 273.93 117.80 Td (the ) Tj ET Q q 0 0 0 rg BT 285.64 117.80 Td (end ) Tj ET Q q 0 0 0 rg BT 299.14 117.80 Td (of ) Tj ET Q q 0 0 0 rg BT 307.74 117.80 Td (2008, ) Tj ET Q q 0 0 0 rg BT 327.68 117.80 Td (our ) Tj ET Q q 0 0 0 rg BT 340.29 117.80 Td (operations ) Tj ET Q q 0 0 0 rg BT 375.55 117.80 Td (generated ) Tj ET Q q 0 0 0 rg BT 408.59 117.80 Td (cash ) Tj ET Q q 0 0 0 rg BT 424.74 117.80 Td (flows ) Tj ET Q q 0 0 0 rg BT 444.46 117.80 Td (suf) Tj ET Q q 0 0 0 rg BT 454.09 117.80 Td (ficient, ) Tj ET Q q 0 0 0 rg BT 478.47 117.80 Td (in ) Tj ET Q q 0 0 0 rg BT 486.63 117.80 Td (conjunction ) Tj ET Q q 0 0 0 rg BT 526.34 117.80 Td (with ) Tj ET Q q 0 0 0 rg BT 542.51 117.80 Td (equity ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 108.20 Td (and ) Tj ET Q q 0 0 0 rg BT 62.71 108.20 Td (debt ) Tj ET Q q 0 0 0 rg BT 78.13 108.20 Td (financing, ) Tj ET Q q 0 0 0 rg BT 112.00 108.20 Td (to ) Tj ET Q q 0 0 0 rg BT 119.88 108.20 Td (fund ) Tj ET Q q 0 0 0 rg BT 136.20 108.20 Td (our ) Tj ET Q q 0 0 0 rg BT 148.52 108.20 Td (operations ) Tj ET Q q 0 0 0 rg BT 183.50 108.20 Td (and ) Tj ET Q q 0 0 0 rg BT 196.70 108.20 Td (our ) Tj ET Q q 0 0 0 rg BT 209.02 108.20 Td (investing ) Tj ET Q q 0 0 0 rg BT 240.01 108.20 Td (activities. ) Tj ET Q q 0 0 0 rg BT 272.54 108.20 Td (Since ) Tj ET Q q 0 0 0 rg BT 291.97 108.20 Td (the ) Tj ET Q q 0 0 0 rg BT 303.40 108.20 Td (end ) Tj ET Q q 0 0 0 rg BT 316.61 108.20 Td (of ) Tj ET Q q 0 0 0 rg BT 324.93 108.20 Td (2008, ) Tj ET Q q 0 0 0 rg BT 344.58 108.20 Td (cash ) Tj ET Q q 0 0 0 rg BT 360.45 108.20 Td (flows ) Tj ET Q q 0 0 0 rg BT 379.88 108.20 Td (from ) Tj ET Q q 0 0 0 rg BT 397.09 108.20 Td (operating ) Tj ET Q q 0 0 0 rg BT 428.96 108.20 Td (activities ) Tj ET Q q 0 0 0 rg BT 459.49 108.20 Td (have ) Tj ET Q q 0 0 0 rg BT 476.25 108.20 Td (declined ) Tj ET Q q 0 0 0 rg BT 505.00 108.20 Td (and ) Tj ET Q q 0 0 0 rg BT 518.21 108.20 Td (were ) Tj ET Q q 0 0 0 rg BT 535.41 108.20 Td (negative ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 98.60 Td (in ) Tj ET Q q 0 0 0 rg BT 57.23 98.60 Td (2012, ) Tj ET Q q 0 0 0 rg BT 76.74 98.60 Td (2013 ) Tj ET Q q 0 0 0 rg BT 94.25 98.60 Td (and ) Tj ET Q q 0 0 0 rg BT 107.30 98.60 Td (2014. ) Tj ET Q q 0 0 0 rg BT 126.81 98.60 Td (Because ) Tj ET Q q 0 0 0 rg BT 154.97 98.60 Td (our ) Tj ET Q q 0 0 0 rg BT 167.14 98.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 182.87 98.60 Td (flows ) Tj ET Q q 0 0 0 rg BT 202.15 98.60 Td (from ) Tj ET Q q 0 0 0 rg BT 219.21 98.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 250.93 98.60 Td (activities ) Tj ET Q q 0 0 0 rg BT 281.32 98.60 Td (have ) Tj ET Q q 0 0 0 rg BT 297.93 98.60 Td (been ) Tj ET Q q 0 0 0 rg BT 314.54 98.60 Td (insuf) Tj ET Q q 0 0 0 rg BT 330.39 98.60 Td (ficient ) Tj ET Q q 0 0 0 rg BT 352.33 98.60 Td (to ) Tj ET Q q 0 0 0 rg BT 360.06 98.60 Td (cover ) Tj ET Q q 0 0 0 rg BT 379.34 98.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 411.05 98.60 Td (expenses ) Tj ET Q q 0 0 0 rg BT 441.44 98.60 Td (and ) Tj ET Q q 0 0 0 rg BT 454.50 98.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 479.55 98.60 Td (payments, ) Tj ET Q q 0 0 0 rg BT 513.72 98.60 Td (we ) Tj ET Q q 0 0 0 rg BT 524.56 98.60 Td (have ) Tj ET Q q 0 0 0 rg BT 541.17 98.60 Td (sought ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 89.00 Td (other ) Tj ET Q q 0 0 0 rg BT 67.94 89.00 Td (capital ) Tj ET Q q 0 0 0 rg BT 91.26 89.00 Td (resources ) Tj ET Q q 0 0 0 rg BT 123.46 89.00 Td (to ) Tj ET Q q 0 0 0 rg BT 131.69 89.00 Td (fund ) Tj ET Q q 0 0 0 rg BT 148.35 89.00 Td (our ) Tj ET Q q 0 0 0 rg BT 161.02 89.00 Td (operations, ) Tj ET Q q 0 0 0 rg BT 198.34 89.00 Td (our ) Tj ET Q q 0 0 0 rg BT 211.00 89.00 Td (debt ) Tj ET Q q 0 0 0 rg BT 226.78 89.00 Td (service ) Tj ET Q q 0 0 0 rg BT 251.43 89.00 Td (and ) Tj ET Q q 0 0 0 rg BT 264.98 89.00 Td (other ) Tj ET Q q 0 0 0 rg BT 283.42 89.00 Td (obligations.) Tj ET Q endstream endobj 77 0 obj <>] /Rotate 0 /Contents 78 0 R>> endobj 78 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (36) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 723.50 Td (On ) Tj ET Q q 0 0 0 rg BT 61.36 723.50 Td (May ) Tj ET Q q 0 0 0 rg BT 78.10 723.50 Td (2, ) Tj ET Q q 0 0 0 rg BT 86.18 723.50 Td (2014, ) Tj ET Q q 0 0 0 rg BT 106.26 723.50 Td (we ) Tj ET Q q 0 0 0 rg BT 117.67 723.50 Td (closed ) Tj ET Q q 0 0 0 rg BT 140.18 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 152.03 723.50 Td (Rights ) Tj ET Q q 0 0 0 rg BT 175.01 723.50 Td (Of) Tj ET Q q 0 0 0 rg BT 183.30 723.50 Td (fering ) Tj ET Q q 0 0 0 rg BT 204.49 723.50 Td (and ) Tj ET Q q 0 0 0 rg BT 218.12 723.50 Td (certain ) Tj ET Q q 0 0 0 rg BT 241.96 723.50 Td (related ) Tj ET Q q 0 0 0 rg BT 265.80 723.50 Td (financing ) Tj ET Q q 0 0 0 rg BT 298.09 723.50 Td (transactions ) Tj ET Q q 0 0 0 rg BT 338.38 723.50 Td (with ) Tj ET Q q 0 0 0 rg BT 354.53 723.50 Td (T) Tj ET Q q 0 0 0 rg BT 359.13 723.50 Td (ime ) Tj ET Q q 0 0 0 rg BT 373.06 723.50 Td (W) Tj ET Q q 0 0 0 rg BT 379.97 723.50 Td (arner ) Tj ET Q q 0 0 0 rg BT 398.48 723.50 Td (and ) Tj ET Q q 0 0 0 rg BT 412.11 723.50 Td (received ) Tj ET Q q 0 0 0 rg BT 441.28 723.50 Td (net ) Tj ET Q q 0 0 0 rg BT 453.13 723.50 Td (proceeds, ) Tj ET Q q 0 0 0 rg BT 485.64 723.50 Td (after ) Tj ET Q q 0 0 0 rg BT 502.37 723.50 Td (deducting ) Tj ET Q q 0 0 0 rg BT 536.00 723.50 Td (fees ) Tj ET Q q 0 0 0 rg BT 550.95 723.50 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 713.90 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 82.49 713.90 Td (of ) Tj ET Q q 0 0 0 rg BT 91.27 713.90 Td (approximately ) Tj ET Q q 0 0 0 rg BT 139.58 713.90 Td (US$386.6 ) Tj ET Q q 0 0 0 rg BT 175.92 713.90 Td (million, ) Tj ET Q q 0 0 0 rg BT 203.15 713.90 Td (in ) Tj ET Q q 0 0 0 rg BT 211.48 713.90 Td (addition ) Tj ET Q q 0 0 0 rg BT 239.81 713.90 Td (to ) Tj ET Q q 0 0 0 rg BT 248.14 713.90 Td (the ) Tj ET Q q 0 0 0 rg BT 260.03 713.90 Td (US$ ) Tj ET Q q 0 0 0 rg BT 276.37 713.90 Td (30.0 ) Tj ET Q q 0 0 0 rg BT 292.48 713.90 Td (million ) Tj ET Q q 0 0 0 rg BT 317.70 713.90 Td (of ) Tj ET Q q 0 0 0 rg BT 326.48 713.90 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 357.02 713.90 Td (from ) Tj ET Q q 0 0 0 rg BT 374.68 713.90 Td (the ) Tj ET Q q 0 0 0 rg BT 386.57 713.90 Td (2017 ) Tj ET Q q 0 0 0 rg BT 404.53 713.90 Td (T) Tj ET Q q 0 0 0 rg BT 408.85 713.90 Td (erm ) Tj ET Q q 0 0 0 rg BT 423.40 713.90 Td (Loan ) Tj ET Q q 0 0 0 rg BT 441.95 713.90 Td (\(see ) Tj ET Q q 0 0 0 rg BT 456.94 713.90 Td (Item ) Tj ET Q q 0 0 0 rg BT 473.71 713.90 Td (8,Note5, ) Tj ET Q q 0 0 0 rg BT 507.38 713.90 Td ("Long-term ) Tj ET Q q 0 0 0 rg BT 546.96 713.90 Td (Debt ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 704.30 Td (and ) Tj ET Q q 0 0 0 rg BT 63.29 704.30 Td (Other ) Tj ET Q q 0 0 0 rg BT 83.73 704.30 Td (Financing ) Tj ET Q q 0 0 0 rg BT 117.47 704.30 Td (Arrangements"andNote14, ) Tj ET Q q 0 0 0 rg BT 211.39 704.30 Td ("Equity"\). ) Tj ET Q q 0 0 0 rg BT 245.99 704.30 Td (W) Tj ET Q q 0 0 0 rg BT 252.90 704.30 Td (e ) Tj ET Q q 0 0 0 rg BT 258.69 704.30 Td (applied ) Tj ET Q q 0 0 0 rg BT 284.47 704.30 Td (the ) Tj ET Q q 0 0 0 rg BT 296.47 704.30 Td (net ) Tj ET Q q 0 0 0 rg BT 308.48 704.30 Td (proceeds, ) Tj ET Q q 0 0 0 rg BT 341.15 704.30 Td (together ) Tj ET Q q 0 0 0 rg BT 369.59 704.30 Td (with ) Tj ET Q q 0 0 0 rg BT 386.05 704.30 Td (a ) Tj ET Q q 0 0 0 rg BT 391.83 704.30 Td (portion ) Tj ET Q q 0 0 0 rg BT 417.18 704.30 Td (of ) Tj ET Q q 0 0 0 rg BT 426.08 704.30 Td (the ) Tj ET Q q 0 0 0 rg BT 438.08 704.30 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 468.75 704.30 Td (from ) Tj ET Q q 0 0 0 rg BT 486.53 704.30 Td (the ) Tj ET Q q 0 0 0 rg BT 498.54 704.30 Td (2017 ) Tj ET Q q 0 0 0 rg BT 516.61 704.30 Td (T) Tj ET Q q 0 0 0 rg BT 520.94 704.30 Td (erm ) Tj ET Q q 0 0 0 rg BT 535.61 704.30 Td (Loan, ) Tj ET Q q 0 0 0 rg BT 556.29 704.30 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 694.70 Td (dischar) Tj ET Q q 0 0 0 rg BT 72.46 694.70 Td (ge ) Tj ET Q q 0 0 0 rg BT 82.01 694.70 Td (the ) Tj ET Q q 0 0 0 rg BT 93.78 694.70 Td (2016 ) Tj ET Q q 0 0 0 rg BT 111.78 694.70 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 132.00 694.70 Td (Rate ) Tj ET Q q 0 0 0 rg BT 148.66 694.70 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 171.33 694.70 Td (including ) Tj ET Q q 0 0 0 rg BT 203.55 694.70 Td (the ) Tj ET Q q 0 0 0 rg BT 215.32 694.70 Td (early ) Tj ET Q q 0 0 0 rg BT 233.31 694.70 Td (redemption ) Tj ET Q q 0 0 0 rg BT 271.74 694.70 Td (premium ) Tj ET Q q 0 0 0 rg BT 302.63 694.70 Td (and ) Tj ET Q q 0 0 0 rg BT 316.18 694.70 Td (accrued ) Tj ET Q q 0 0 0 rg BT 343.04 694.70 Td (interest ) Tj ET Q q 0 0 0 rg BT 368.59 694.70 Td (thereon.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 679.10 Td (On ) Tj ET Q q 0 0 0 rg BT 61.78 679.10 Td (November ) Tj ET Q q 0 0 0 rg BT 98.05 679.10 Td (14, ) Tj ET Q q 0 0 0 rg BT 110.56 679.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 131.06 679.10 Td (we ) Tj ET Q q 0 0 0 rg BT 142.90 679.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 168.94 679.10 Td (into ) Tj ET Q q 0 0 0 rg BT 183.89 679.10 Td (the ) Tj ET Q q 0 0 0 rg BT 196.17 679.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 214.67 679.10 Td (Euro ) Tj ET Q q 0 0 0 rg BT 232.55 679.10 Td (T) Tj ET Q q 0 0 0 rg BT 236.88 679.10 Td (erm ) Tj ET Q q 0 0 0 rg BT 251.82 679.10 Td (Loan ) Tj ET Q q 0 0 0 rg BT 270.76 679.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 306.58 679.10 Td (with ) Tj ET Q q 0 0 0 rg BT 323.31 679.10 Td (BNP) Tj ET Q q 0 0 0 rg BT 338.57 679.10 Td ( ) Tj ET Q q 0 0 0 rg BT 341.08 679.10 Td (Paribas, ) Tj ET Q q 0 0 0 rg BT 369.13 679.10 Td (as ) Tj ET Q q 0 0 0 rg BT 378.30 679.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 426.57 679.10 Td (agent, ) Tj ET Q q 0 0 0 rg BT 448.22 679.10 Td (T) Tj ET Q q 0 0 0 rg BT 452.82 679.10 Td (ime ) Tj ET Q q 0 0 0 rg BT 467.14 679.10 Td (W) Tj ET Q q 0 0 0 rg BT 474.05 679.10 Td (arner) Tj ET Q q 0 0 0 rg BT 490.16 679.10 Td (, ) Tj ET Q q 0 0 0 rg BT 494.67 679.10 Td (as ) Tj ET Q q 0 0 0 rg BT 503.84 679.10 Td (guarantor) Tj ET Q q 0 0 0 rg BT 534.17 679.10 Td (, ) Tj ET Q q 0 0 0 rg BT 538.67 679.10 Td (and ) Tj ET Q q 0 0 0 rg BT 552.73 679.10 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 669.50 Td (lenders ) Tj ET Q q 0 0 0 rg BT 75.03 669.50 Td (party ) Tj ET Q q 0 0 0 rg BT 93.89 669.50 Td (thereto ) Tj ET Q q 0 0 0 rg BT 118.52 669.50 Td (and ) Tj ET Q q 0 0 0 rg BT 132.50 669.50 Td (on ) Tj ET Q q 0 0 0 rg BT 142.92 669.50 Td (December ) Tj ET Q q 0 0 0 rg BT 178.21 669.50 Td (12, ) Tj ET Q q 0 0 0 rg BT 190.63 669.50 Td (2014, ) Tj ET Q q 0 0 0 rg BT 211.06 669.50 Td (applied ) Tj ET Q q 0 0 0 rg BT 237.03 669.50 Td (the ) Tj ET Q q 0 0 0 rg BT 249.23 669.50 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 280.08 669.50 Td (of ) Tj ET Q q 0 0 0 rg BT 289.17 669.50 Td (the ) Tj ET Q q 0 0 0 rg BT 301.37 669.50 Td (2017 ) Tj ET Q q 0 0 0 rg BT 319.79 669.50 Td (Euro ) Tj ET Q q 0 0 0 rg BT 337.59 669.50 Td (T) Tj ET Q q 0 0 0 rg BT 341.92 669.50 Td (erm ) Tj ET Q q 0 0 0 rg BT 356.78 669.50 Td (Loan ) Tj ET Q q 0 0 0 rg BT 375.64 669.50 Td (to ) Tj ET Q q 0 0 0 rg BT 384.29 669.50 Td (redeem ) Tj ET Q q 0 0 0 rg BT 410.25 669.50 Td (the ) Tj ET Q q 0 0 0 rg BT 422.45 669.50 Td (2017 ) Tj ET Q q 0 0 0 rg BT 440.87 669.50 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 461.52 669.50 Td (Rate ) Tj ET Q q 0 0 0 rg BT 478.60 669.50 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 501.69 669.50 Td (including ) Tj ET Q q 0 0 0 rg BT 534.33 669.50 Td (the ) Tj ET Q q 0 0 0 rg BT 546.53 669.50 Td (early ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 659.90 Td (redemption ) Tj ET Q q 0 0 0 rg BT 87.93 659.90 Td (premium ) Tj ET Q q 0 0 0 rg BT 118.82 659.90 Td (and ) Tj ET Q q 0 0 0 rg BT 132.37 659.90 Td (accrued ) Tj ET Q q 0 0 0 rg BT 159.23 659.90 Td (interest ) Tj ET Q q 0 0 0 rg BT 184.78 659.90 Td (thereon ) Tj ET Q q 0 0 0 rg BT 210.77 659.90 Td (and ) Tj ET Q q 0 0 0 rg BT 224.32 659.90 Td (dischar) Tj ET Q q 0 0 0 rg BT 247.28 659.90 Td (ged ) Tj ET Q q 0 0 0 rg BT 260.83 659.90 Td (their ) Tj ET Q q 0 0 0 rg BT 277.49 659.90 Td (indenture.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 644.30 Td (These ) Tj ET Q q 0 0 0 rg BT 70.47 644.30 Td (financing ) Tj ET Q q 0 0 0 rg BT 102.55 644.30 Td (transactions ) Tj ET Q q 0 0 0 rg BT 142.63 644.30 Td (significantly ) Tj ET Q q 0 0 0 rg BT 184.48 644.30 Td (reduced ) Tj ET Q q 0 0 0 rg BT 211.67 644.30 Td (the ) Tj ET Q q 0 0 0 rg BT 223.31 644.30 Td (amount ) Tj ET Q q 0 0 0 rg BT 249.17 644.30 Td (of ) Tj ET Q q 0 0 0 rg BT 257.70 644.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 273.79 644.30 Td (interest ) Tj ET Q q 0 0 0 rg BT 299.20 644.30 Td (to ) Tj ET Q q 0 0 0 rg BT 307.29 644.30 Td (be ) Tj ET Q q 0 0 0 rg BT 316.71 644.30 Td (paid ) Tj ET Q q 0 0 0 rg BT 332.35 644.30 Td (in ) Tj ET Q q 0 0 0 rg BT 340.44 644.30 Td (the ) Tj ET Q q 0 0 0 rg BT 352.08 644.30 Td (coming ) Tj ET Q q 0 0 0 rg BT 377.94 644.30 Td (years ) Tj ET Q q 0 0 0 rg BT 396.69 644.30 Td (by ) Tj ET Q q 0 0 0 rg BT 406.55 644.30 Td (refinancing ) Tj ET Q q 0 0 0 rg BT 444.85 644.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 460.93 644.30 Td (pay ) Tj ET Q q 0 0 0 rg BT 474.35 644.30 Td (indebtedness ) Tj ET Q q 0 0 0 rg BT 517.54 644.30 Td (with ) Tj ET Q q 0 0 0 rg BT 533.63 644.30 Td (non-cash ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 634.70 Td (pay ) Tj ET Q q 0 0 0 rg BT 63.05 634.70 Td (indebtedness. ) Tj ET Q q 0 0 0 rg BT 108.38 634.70 Td (In ) Tj ET Q q 0 0 0 rg BT 117.04 634.70 Td (addition, ) Tj ET Q q 0 0 0 rg BT 147.26 634.70 Td (they ) Tj ET Q q 0 0 0 rg BT 163.03 634.70 Td (provide ) Tj ET Q q 0 0 0 rg BT 189.47 634.70 Td (suf) Tj ET Q q 0 0 0 rg BT 199.10 634.70 Td (ficient ) Tj ET Q q 0 0 0 rg BT 221.54 634.70 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 250.65 634.70 Td (to ) Tj ET Q q 0 0 0 rg BT 258.87 634.70 Td (fund ) Tj ET Q q 0 0 0 rg BT 275.54 634.70 Td (our ) Tj ET Q q 0 0 0 rg BT 288.20 634.70 Td (operations ) Tj ET Q q 0 0 0 rg BT 323.52 634.70 Td (and ) Tj ET Q q 0 0 0 rg BT 337.07 634.70 Td (relieve ) Tj ET Q q 0 0 0 rg BT 360.84 634.70 Td (pressure ) Tj ET Q q 0 0 0 rg BT 389.49 634.70 Td (on ) Tj ET Q q 0 0 0 rg BT 399.49 634.70 Td (our ) Tj ET Q q 0 0 0 rg BT 412.16 634.70 Td (working ) Tj ET Q q 0 0 0 rg BT 440.82 634.70 Td (capital ) Tj ET Q q 0 0 0 rg BT 464.14 634.70 Td (position.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 619.10 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 619.10 Td (e ) Tj ET Q q 0 0 0 rg BT 61.79 619.10 Td (are ) Tj ET Q q 0 0 0 rg BT 73.39 619.10 Td (continuing ) Tj ET Q q 0 0 0 rg BT 109.44 619.10 Td (to ) Tj ET Q q 0 0 0 rg BT 117.49 619.10 Td (take ) Tj ET Q q 0 0 0 rg BT 132.64 619.10 Td (actions ) Tj ET Q q 0 0 0 rg BT 157.13 619.10 Td (to ) Tj ET Q q 0 0 0 rg BT 165.19 619.10 Td (conserve ) Tj ET Q q 0 0 0 rg BT 195.45 619.10 Td (cash, ) Tj ET Q q 0 0 0 rg BT 213.49 619.10 Td (including ) Tj ET Q q 0 0 0 rg BT 245.54 619.10 Td (tar) Tj ET Q q 0 0 0 rg BT 253.83 619.10 Td (geted ) Tj ET Q q 0 0 0 rg BT 272.99 619.10 Td (reductions ) Tj ET Q q 0 0 0 rg BT 308.14 619.10 Td (to ) Tj ET Q q 0 0 0 rg BT 316.19 619.10 Td (our ) Tj ET Q q 0 0 0 rg BT 328.69 619.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 360.73 619.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 375.45 619.10 Td (base ) Tj ET Q q 0 0 0 rg BT 391.49 619.10 Td (through ) Tj ET Q q 0 0 0 rg BT 418.21 619.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 432.92 619.10 Td (optimization ) Tj ET Q q 0 0 0 rg BT 475.19 619.10 Td (programs. ) Tj ET Q q 0 0 0 rg BT 509.10 619.10 Td (While ) Tj ET Q q 0 0 0 rg BT 530.48 619.10 Td (we ) Tj ET Q q 0 0 0 rg BT 541.64 619.10 Td (expect ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 609.50 Td (to ) Tj ET Q q 0 0 0 rg BT 57.49 609.50 Td (be ) Tj ET Q q 0 0 0 rg BT 66.81 609.50 Td (free ) Tj ET Q q 0 0 0 rg BT 81.01 609.50 Td (cash ) Tj ET Q q 0 0 0 rg BT 96.99 609.50 Td (flow ) Tj ET Q q 0 0 0 rg BT 113.42 609.50 Td (positive ) Tj ET Q q 0 0 0 rg BT 140.53 609.50 Td (in ) Tj ET Q q 0 0 0 rg BT 148.52 609.50 Td (2015, ) Tj ET Q q 0 0 0 rg BT 168.29 609.50 Td (this ) Tj ET Q q 0 0 0 rg BT 181.61 609.50 Td (is ) Tj ET Q q 0 0 0 rg BT 188.72 609.50 Td (lar) Tj ET Q q 0 0 0 rg BT 197.01 609.50 Td (gely ) Tj ET Q q 0 0 0 rg BT 212.55 609.50 Td (due ) Tj ET Q q 0 0 0 rg BT 225.87 609.50 Td (to ) Tj ET Q q 0 0 0 rg BT 233.86 609.50 Td (cash ) Tj ET Q q 0 0 0 rg BT 249.85 609.50 Td (interest ) Tj ET Q q 0 0 0 rg BT 275.16 609.50 Td (savings ) Tj ET Q q 0 0 0 rg BT 300.93 609.50 Td (as ) Tj ET Q q 0 0 0 rg BT 309.36 609.50 Td (a ) Tj ET Q q 0 0 0 rg BT 314.68 609.50 Td (result ) Tj ET Q q 0 0 0 rg BT 334.22 609.50 Td (of ) Tj ET Q q 0 0 0 rg BT 342.66 609.50 Td (the ) Tj ET Q q 0 0 0 rg BT 354.20 609.50 Td (financing ) Tj ET Q q 0 0 0 rg BT 386.18 609.50 Td (transactions ) Tj ET Q q 0 0 0 rg BT 426.16 609.50 Td (noted ) Tj ET Q q 0 0 0 rg BT 445.70 609.50 Td (above ) Tj ET Q q 0 0 0 rg BT 466.57 609.50 Td (and ) Tj ET Q q 0 0 0 rg BT 479.89 609.50 Td (does ) Tj ET Q q 0 0 0 rg BT 496.32 609.50 Td (not ) Tj ET Q q 0 0 0 rg BT 508.31 609.50 Td (take ) Tj ET Q q 0 0 0 rg BT 523.41 609.50 Td (into ) Tj ET Q q 0 0 0 rg BT 537.62 609.50 Td (account ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 599.90 Td (any ) Tj ET Q q 0 0 0 rg BT 62.95 599.90 Td (cash ) Tj ET Q q 0 0 0 rg BT 79.06 599.90 Td (impact ) Tj ET Q q 0 0 0 rg BT 102.73 599.90 Td (of ) Tj ET Q q 0 0 0 rg BT 111.30 599.90 Td (the ) Tj ET Q q 0 0 0 rg BT 122.97 599.90 Td (tax ) Tj ET Q q 0 0 0 rg BT 134.64 599.90 Td (audits ) Tj ET Q q 0 0 0 rg BT 155.65 599.90 Td (in ) Tj ET Q q 0 0 0 rg BT 163.77 599.90 Td (Romania ) Tj ET Q q 0 0 0 rg BT 194.56 599.90 Td (\(see ) Tj ET Q q 0 0 0 rg BT 209.33 599.90 Td (below ) Tj ET Q q 0 0 0 rg BT 230.78 599.90 Td (and ) Tj ET Q q 0 0 0 rg BT 244.23 599.90 Td (Item ) Tj ET Q q 0 0 0 rg BT 260.79 599.90 Td (8, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 268.69 599.90 Td (Note ) Tj ET Q q 0 0 0 rg BT 286.14 599.90 Td (21, ) Tj ET Q q 0 0 0 rg BT 298.04 599.90 Td ("Commitments ) Tj ET Q q 0 0 0 rg BT 348.54 599.90 Td (and ) Tj ET Q q 0 0 0 rg BT 361.99 599.90 Td (Contingencies") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.03 599.90 Td (\). ) Tj ET Q q 0 0 0 rg BT 417.46 599.90 Td (W) Tj ET Q q 0 0 0 rg BT 424.37 599.90 Td (e ) Tj ET Q q 0 0 0 rg BT 429.82 599.90 Td (expect ) Tj ET Q q 0 0 0 rg BT 452.59 599.90 Td (that ) Tj ET Q q 0 0 0 rg BT 466.49 599.90 Td (our ) Tj ET Q q 0 0 0 rg BT 479.05 599.90 Td (cash ) Tj ET Q q 0 0 0 rg BT 495.16 599.90 Td (flows ) Tj ET Q q 0 0 0 rg BT 514.84 599.90 Td (from ) Tj ET Q q 0 0 0 rg BT 532.29 599.90 Td (operating ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 590.30 Td (activities ) Tj ET Q q 0 0 0 rg BT 80.97 590.30 Td (will ) Tj ET Q q 0 0 0 rg BT 96.01 590.30 Td (continue ) Tj ET Q q 0 0 0 rg BT 126.15 590.30 Td (to ) Tj ET Q q 0 0 0 rg BT 134.97 590.30 Td (be ) Tj ET Q q 0 0 0 rg BT 145.11 590.30 Td (insuf) Tj ET Q q 0 0 0 rg BT 160.97 590.30 Td (ficient ) Tj ET Q q 0 0 0 rg BT 184.00 590.30 Td (to ) Tj ET Q q 0 0 0 rg BT 192.81 590.30 Td (cover ) Tj ET Q q 0 0 0 rg BT 213.17 590.30 Td (operating ) Tj ET Q q 0 0 0 rg BT 245.98 590.30 Td (expenses ) Tj ET Q q 0 0 0 rg BT 277.45 590.30 Td (and ) Tj ET Q q 0 0 0 rg BT 291.59 590.30 Td (debt ) Tj ET Q q 0 0 0 rg BT 307.96 590.30 Td (service ) Tj ET Q q 0 0 0 rg BT 333.21 590.30 Td (obligations, ) Tj ET Q q 0 0 0 rg BT 373.36 590.30 Td (including ) Tj ET Q q 0 0 0 rg BT 406.17 590.30 Td (the ) Tj ET Q q 0 0 0 rg BT 418.54 590.30 Td (repayment ) Tj ET Q q 0 0 0 rg BT 454.89 590.30 Td (of ) Tj ET Q q 0 0 0 rg BT 464.15 590.30 Td (the ) Tj ET Q q 0 0 0 rg BT 476.52 590.30 Td (2015 ) Tj ET Q q 0 0 0 rg BT 495.11 590.30 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 535.47 590.30 Td (Notes ) Tj ET Q q 0 0 0 rg BT 556.73 590.30 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 580.70 Td (maturity ) Tj ET Q q 0 0 0 rg BT 78.35 580.70 Td (on ) Tj ET Q q 0 0 0 rg BT 88.10 580.70 Td (November ) Tj ET Q q 0 0 0 rg BT 123.62 580.70 Td (15, ) Tj ET Q q 0 0 0 rg BT 135.36 580.70 Td (2015. ) Tj ET Q q 0 0 0 rg BT 155.11 580.70 Td (In ) Tj ET Q q 0 0 0 rg BT 163.52 580.70 Td (this ) Tj ET Q q 0 0 0 rg BT 176.83 580.70 Td (regard, ) Tj ET Q q 0 0 0 rg BT 201.01 580.70 Td (we ) Tj ET Q q 0 0 0 rg BT 212.08 580.70 Td (have ) Tj ET Q q 0 0 0 rg BT 228.93 580.70 Td (entered ) Tj ET Q q 0 0 0 rg BT 254.22 580.70 Td (into ) Tj ET Q q 0 0 0 rg BT 268.41 580.70 Td (the ) Tj ET Q q 0 0 0 rg BT 279.94 580.70 Td (2015 ) Tj ET Q q 0 0 0 rg BT 297.68 580.70 Td (Refinancing ) Tj ET Q q 0 0 0 rg BT 338.53 580.70 Td (Commitment ) Tj ET Q q 0 0 0 rg BT 382.50 580.70 Td (Letter ) Tj ET Q q 0 0 0 rg BT 403.35 580.70 Td (with ) Tj ET Q q 0 0 0 rg BT 419.19 580.70 Td (T) Tj ET Q q 0 0 0 rg BT 423.80 580.70 Td (ime ) Tj ET Q q 0 0 0 rg BT 437.41 580.70 Td (W) Tj ET Q q 0 0 0 rg BT 444.32 580.70 Td (arner ) Tj ET Q q 0 0 0 rg BT 462.50 580.70 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 491.80 580.70 Td (to ) Tj ET Q q 0 0 0 rg BT 499.77 580.70 Td (which ) Tj ET Q q 0 0 0 rg BT 520.94 580.70 Td (T) Tj ET Q q 0 0 0 rg BT 525.55 580.70 Td (ime ) Tj ET Q q 0 0 0 rg BT 539.17 580.70 Td (W) Tj ET Q q 0 0 0 rg BT 546.08 580.70 Td (arner ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 571.10 Td (has ) Tj ET Q q 0 0 0 rg BT 62.28 571.10 Td (committed ) Tj ET Q q 0 0 0 rg BT 98.61 571.10 Td (to ) Tj ET Q q 0 0 0 rg BT 106.95 571.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 133.50 571.10 Td (or ) Tj ET Q q 0 0 0 rg BT 142.28 571.10 Td (assist ) Tj ET Q q 0 0 0 rg BT 161.74 571.10 Td (with ) Tj ET Q q 0 0 0 rg BT 178.08 571.10 Td (arranging ) Tj ET Q q 0 0 0 rg BT 210.84 571.10 Td (a ) Tj ET Q q 0 0 0 rg BT 216.51 571.10 Td (replacement ) Tj ET Q q 0 0 0 rg BT 257.71 571.10 Td (facility ) Tj ET Q q 0 0 0 rg BT 282.49 571.10 Td (to ) Tj ET Q q 0 0 0 rg BT 290.82 571.10 Td (refinance ) Tj ET Q q 0 0 0 rg BT 322.69 571.10 Td (the ) Tj ET Q q 0 0 0 rg BT 334.58 571.10 Td (2015 ) Tj ET Q q 0 0 0 rg BT 352.70 571.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 392.59 571.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 413.37 571.10 Td (at ) Tj ET Q q 0 0 0 rg BT 421.26 571.10 Td (or ) Tj ET Q q 0 0 0 rg BT 430.04 571.10 Td (immediately ) Tj ET Q q 0 0 0 rg BT 472.14 571.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 489.81 571.10 Td (to ) Tj ET Q q 0 0 0 rg BT 498.15 571.10 Td (their ) Tj ET Q q 0 0 0 rg BT 514.92 571.10 Td (maturity) Tj ET Q q 0 0 0 rg BT 541.51 571.10 Td (. ) Tj ET Q q 0 0 0 rg BT 545.63 571.10 Td (Once ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 561.50 Td (the ) Tj ET Q q 0 0 0 rg BT 60.63 561.50 Td (transaction ) Tj ET Q q 0 0 0 rg BT 97.09 561.50 Td (contemplated ) Tj ET Q q 0 0 0 rg BT 141.54 561.50 Td (under ) Tj ET Q q 0 0 0 rg BT 161.11 561.50 Td (the ) Tj ET Q q 0 0 0 rg BT 172.25 561.50 Td (2015 ) Tj ET Q q 0 0 0 rg BT 189.60 561.50 Td (Refinancing ) Tj ET Q q 0 0 0 rg BT 230.06 561.50 Td (Commitment ) Tj ET Q q 0 0 0 rg BT 273.64 561.50 Td (Letter ) Tj ET Q q 0 0 0 rg BT 294.10 561.50 Td (has ) Tj ET Q q 0 0 0 rg BT 306.12 561.50 Td (completed, ) Tj ET Q q 0 0 0 rg BT 342.80 561.50 Td (we ) Tj ET Q q 0 0 0 rg BT 353.48 561.50 Td (believe ) Tj ET Q q 0 0 0 rg BT 377.94 561.50 Td (we ) Tj ET Q q 0 0 0 rg BT 388.63 561.50 Td (will ) Tj ET Q q 0 0 0 rg BT 402.43 561.50 Td (have ) Tj ET Q q 0 0 0 rg BT 418.89 561.50 Td (adequate ) Tj ET Q q 0 0 0 rg BT 448.67 561.50 Td (cash ) Tj ET Q q 0 0 0 rg BT 464.25 561.50 Td (resources ) Tj ET Q q 0 0 0 rg BT 495.81 561.50 Td (to ) Tj ET Q q 0 0 0 rg BT 503.39 561.50 Td (continue ) Tj ET Q q 0 0 0 rg BT 532.30 561.50 Td (operating ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 551.90 Td (as ) Tj ET Q q 0 0 0 rg BT 58.04 551.90 Td (a ) Tj ET Q q 0 0 0 rg BT 63.47 551.90 Td (going ) Tj ET Q q 0 0 0 rg BT 83.57 551.90 Td (concern ) Tj ET Q q 0 0 0 rg BT 110.76 551.90 Td (for ) Tj ET Q q 0 0 0 rg BT 121.97 551.90 Td (the ) Tj ET Q q 0 0 0 rg BT 133.62 551.90 Td (foreseeable ) Tj ET Q q 0 0 0 rg BT 171.91 551.90 Td (future, ) Tj ET Q q 0 0 0 rg BT 194.89 551.90 Td (however ) Tj ET Q q 0 0 0 rg BT 224.31 551.90 Td (funding ) Tj ET Q q 0 0 0 rg BT 251.07 551.90 Td (of ) Tj ET Q q 0 0 0 rg BT 259.62 551.90 Td (the ) Tj ET Q q 0 0 0 rg BT 271.27 551.90 Td (transaction ) Tj ET Q q 0 0 0 rg BT 308.24 551.90 Td (is ) Tj ET Q q 0 0 0 rg BT 315.45 551.90 Td (subject ) Tj ET Q q 0 0 0 rg BT 339.99 551.90 Td (to ) Tj ET Q q 0 0 0 rg BT 348.09 551.90 Td (customary ) Tj ET Q q 0 0 0 rg BT 383.29 551.90 Td (closing ) Tj ET Q q 0 0 0 rg BT 408.28 551.90 Td (conditions ) Tj ET Q q 0 0 0 rg BT 443.49 551.90 Td (\(including ) Tj ET Q q 0 0 0 rg BT 478.25 551.90 Td (the ) Tj ET Q q 0 0 0 rg BT 489.90 551.90 Td (execution ) Tj ET Q q 0 0 0 rg BT 522.87 551.90 Td (and ) Tj ET Q q 0 0 0 rg BT 536.30 551.90 Td (delivery ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 542.30 Td (of ) Tj ET Q q 0 0 0 rg BT 58.02 542.30 Td (documentation, ) Tj ET Q q 0 0 0 rg BT 109.42 542.30 Td (the ) Tj ET Q q 0 0 0 rg BT 121.05 542.30 Td (accuracy ) Tj ET Q q 0 0 0 rg BT 151.32 542.30 Td (of ) Tj ET Q q 0 0 0 rg BT 159.84 542.30 Td (representations, ) Tj ET Q q 0 0 0 rg BT 212.13 542.30 Td (the ) Tj ET Q q 0 0 0 rg BT 223.76 542.30 Td (absence ) Tj ET Q q 0 0 0 rg BT 250.93 542.30 Td (of ) Tj ET Q q 0 0 0 rg BT 259.45 542.30 Td (events ) Tj ET Q q 0 0 0 rg BT 281.74 542.30 Td (of ) Tj ET Q q 0 0 0 rg BT 290.26 542.30 Td (default ) Tj ET Q q 0 0 0 rg BT 314.33 542.30 Td (and ) Tj ET Q q 0 0 0 rg BT 327.74 542.30 Td (the ) Tj ET Q q 0 0 0 rg BT 339.37 542.30 Td (absence ) Tj ET Q q 0 0 0 rg BT 366.54 542.30 Td (of ) Tj ET Q q 0 0 0 rg BT 375.06 542.30 Td (material ) Tj ET Q q 0 0 0 rg BT 403.13 542.30 Td (adverse ) Tj ET Q q 0 0 0 rg BT 429.41 542.30 Td (changes\), ) Tj ET Q q 0 0 0 rg BT 461.70 542.30 Td (certain ) Tj ET Q q 0 0 0 rg BT 485.32 542.30 Td (of ) Tj ET Q q 0 0 0 rg BT 493.84 542.30 Td (which ) Tj ET Q q 0 0 0 rg BT 515.24 542.30 Td (are ) Tj ET Q q 0 0 0 rg BT 526.87 542.30 Td (outside ) Tj ET Q q 0 0 0 rg BT 551.83 542.30 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 532.70 Td (direct ) Tj ET Q q 0 0 0 rg BT 69.71 532.70 Td (control.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 517.10 Td (As ) Tj ET Q q 0 0 0 rg BT 60.37 517.10 Td (further ) Tj ET Q q 0 0 0 rg BT 84.11 517.10 Td (discussed ) Tj ET Q q 0 0 0 rg BT 116.75 517.10 Td (in ) Tj ET Q q 0 0 0 rg BT 124.95 517.10 Td (Item ) Tj ET Q q 0 0 0 rg BT 141.59 517.10 Td (8, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 149.57 517.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 167.10 517.10 Td (21, ) Tj ET Q q 0 0 0 rg BT 179.07 517.10 Td ("Commitments ) Tj ET Q q 0 0 0 rg BT 229.65 517.10 Td (and ) Tj ET Q q 0 0 0 rg BT 243.18 517.10 Td (Contingencies") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.22 517.10 Td (, ) Tj ET Q q 0 0 0 rg BT 296.19 517.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 319.93 517.10 Td (of ) Tj ET Q q 0 0 0 rg BT 328.58 517.10 Td (our ) Tj ET Q q 0 0 0 rg BT 341.22 517.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 380.97 517.10 Td (in ) Tj ET Q q 0 0 0 rg BT 389.17 517.10 Td (Romania ) Tj ET Q q 0 0 0 rg BT 420.03 517.10 Td (are ) Tj ET Q q 0 0 0 rg BT 431.77 517.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 462.62 517.10 Td (being ) Tj ET Q q 0 0 0 rg BT 482.38 517.10 Td (audited ) Tj ET Q q 0 0 0 rg BT 507.90 517.10 Td (by ) Tj ET Q q 0 0 0 rg BT 517.88 517.10 Td (the ) Tj ET Q q 0 0 0 rg BT 529.63 517.10 Td (Romanian ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 507.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 60.96 507.50 Td (authorities. ) Tj ET Q q 0 0 0 rg BT 98.42 507.50 Td (In ) Tj ET Q q 0 0 0 rg BT 106.78 507.50 Td (this ) Tj ET Q q 0 0 0 rg BT 120.03 507.50 Td (regard, ) Tj ET Q q 0 0 0 rg BT 144.15 507.50 Td (we ) Tj ET Q q 0 0 0 rg BT 155.17 507.50 Td (have ) Tj ET Q q 0 0 0 rg BT 171.96 507.50 Td (provided ) Tj ET Q q 0 0 0 rg BT 202.09 507.50 Td (US$ ) Tj ET Q q 0 0 0 rg BT 218.00 507.50 Td (12.0 ) Tj ET Q q 0 0 0 rg BT 233.69 507.50 Td (million ) Tj ET Q q 0 0 0 rg BT 258.50 507.50 Td (in ) Tj ET Q q 0 0 0 rg BT 266.41 507.50 Td (the ) Tj ET Q q 0 0 0 rg BT 277.87 507.50 Td (fourth ) Tj ET Q q 0 0 0 rg BT 299.12 507.50 Td (quarter ) Tj ET Q q 0 0 0 rg BT 323.46 507.50 Td (of ) Tj ET Q q 0 0 0 rg BT 331.81 507.50 Td (2014. ) Tj ET Q q 0 0 0 rg BT 351.50 507.50 Td (It ) Tj ET Q q 0 0 0 rg BT 358.08 507.50 Td (is ) Tj ET Q q 0 0 0 rg BT 365.11 507.50 Td (likely ) Tj ET Q q 0 0 0 rg BT 385.02 507.50 Td (that ) Tj ET Q q 0 0 0 rg BT 398.70 507.50 Td (additional ) Tj ET Q q 0 0 0 rg BT 432.38 507.50 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 463.85 507.50 Td (will ) Tj ET Q q 0 0 0 rg BT 477.98 507.50 Td (be ) Tj ET Q q 0 0 0 rg BT 487.23 507.50 Td (levied ) Tj ET Q q 0 0 0 rg BT 508.46 507.50 Td (by ) Tj ET Q q 0 0 0 rg BT 518.15 507.50 Td (the ) Tj ET Q q 0 0 0 rg BT 529.62 507.50 Td (Romanian ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 497.90 Td (tax ) Tj ET Q q 0 0 0 rg BT 60.78 497.90 Td (authorities ) Tj ET Q q 0 0 0 rg BT 96.06 497.90 Td (upon ) Tj ET Q q 0 0 0 rg BT 113.57 497.90 Td (completion ) Tj ET Q q 0 0 0 rg BT 151.07 497.90 Td (of ) Tj ET Q q 0 0 0 rg BT 159.24 497.90 Td (these ) Tj ET Q q 0 0 0 rg BT 177.18 497.90 Td (audits, ) Tj ET Q q 0 0 0 rg BT 199.80 497.90 Td (which ) Tj ET Q q 0 0 0 rg BT 220.86 497.90 Td (may ) Tj ET Q q 0 0 0 rg BT 236.14 497.90 Td (be ) Tj ET Q q 0 0 0 rg BT 245.20 497.90 Td (material. ) Tj ET Q q 0 0 0 rg BT 274.81 497.90 Td (W) Tj ET Q q 0 0 0 rg BT 281.72 497.90 Td (e ) Tj ET Q q 0 0 0 rg BT 286.77 497.90 Td (believe ) Tj ET Q q 0 0 0 rg BT 311.38 497.90 Td (the ) Tj ET Q q 0 0 0 rg BT 322.66 497.90 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 351.28 497.90 Td (available ) Tj ET Q q 0 0 0 rg BT 381.66 497.90 Td (to ) Tj ET Q q 0 0 0 rg BT 389.39 497.90 Td (us, ) Tj ET Q q 0 0 0 rg BT 400.01 497.90 Td (including ) Tj ET Q q 0 0 0 rg BT 431.74 497.90 Td (under ) Tj ET Q q 0 0 0 rg BT 451.46 497.90 Td (the ) Tj ET Q q 0 0 0 rg BT 462.74 497.90 Td (2017 ) Tj ET Q q 0 0 0 rg BT 480.25 497.90 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 515.09 497.90 Td (Credit ) Tj ET Q q 0 0 0 rg BT 536.59 497.90 Td (Facility) Tj ET Q q 0 0 0 rg BT 560.52 497.90 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 488.30 Td (would ) Tj ET Q q 0 0 0 rg BT 71.50 488.30 Td (be ) Tj ET Q q 0 0 0 rg BT 81.05 488.30 Td (suf) Tj ET Q q 0 0 0 rg BT 90.68 488.30 Td (ficient ) Tj ET Q q 0 0 0 rg BT 113.12 488.30 Td (to ) Tj ET Q q 0 0 0 rg BT 121.34 488.30 Td (satisfy ) Tj ET Q q 0 0 0 rg BT 144.23 488.30 Td (amounts ) Tj ET Q q 0 0 0 rg BT 173.34 488.30 Td (that ) Tj ET Q q 0 0 0 rg BT 187.33 488.30 Td (may ) Tj ET Q q 0 0 0 rg BT 203.11 488.30 Td (be ) Tj ET Q q 0 0 0 rg BT 212.66 488.30 Td (levied.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 469.70 Td (Cr) Tj ET Q q 0 0 0 rg BT 57.65 469.70 Td (edit ) Tj ET Q q 0 0 0 rg BT 71.65 469.70 Td (ratings ) Tj ET Q q 0 0 0 rg BT 96.32 469.70 Td (and ) Tj ET Q q 0 0 0 rg BT 110.32 469.70 Td (futur) Tj ET Q q 0 0 0 rg BT 125.58 469.70 Td (e ) Tj ET Q q 0 0 0 rg BT 131.13 469.70 Td (debt ) Tj ET Q q 0 0 0 rg BT 146.91 469.70 Td (issuances) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 454.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 63.87 454.10 Td (corporate ) Tj ET Q q 0 0 0 rg BT 95.99 454.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 116.13 454.10 Td (is ) Tj ET Q q 0 0 0 rg BT 123.39 454.10 Td (rated ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 141.30 454.10 Td (Caa1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 157.74 454.10 Td ( ) Tj ET Q q 0 0 0 rg BT 159.66 454.10 Td (by ) Tj ET Q q 0 0 0 rg BT 169.58 454.10 Td (Moody's ) Tj ET Q q 0 0 0 rg BT 199.18 454.10 Td (Investors ) Tj ET Q q 0 0 0 rg BT 230.43 454.10 Td (Services ) Tj ET Q q 0 0 0 rg BT 259.45 454.10 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 272.93 454.10 Td (B+) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 282.78 454.10 Td ( ) Tj ET Q q 0 0 0 rg BT 284.70 454.10 Td (by ) Tj ET Q q 0 0 0 rg BT 294.62 454.10 Td (Standard ) Tj ET Q q 0 0 0 rg BT 324.98 454.10 Td (& ) Tj ET Q q 0 0 0 rg BT 333.13 454.10 Td (Poor's, ) Tj ET Q q 0 0 0 rg BT 356.72 454.10 Td (both ) Tj ET Q q 0 0 0 rg BT 372.87 454.10 Td (with ) Tj ET Q q 0 0 0 rg BT 389.02 454.10 Td (stable ) Tj ET Q q 0 0 0 rg BT 409.60 454.10 Td (outlook. ) Tj ET Q q 0 0 0 rg BT 437.83 454.10 Td (The ) Tj ET Q q 0 0 0 rg BT 452.19 454.10 Td (rating ) Tj ET Q q 0 0 0 rg BT 472.77 454.10 Td (agencies ) Tj ET Q q 0 0 0 rg BT 502.24 454.10 Td (have ) Tj ET Q q 0 0 0 rg BT 519.26 454.10 Td (indicated ) Tj ET Q q 0 0 0 rg BT 550.51 454.10 Td (that ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 444.50 Td (their ) Tj ET Q q 0 0 0 rg BT 65.62 444.50 Td (ratings ) Tj ET Q q 0 0 0 rg BT 88.85 444.50 Td (reflect ) Tj ET Q q 0 0 0 rg BT 110.73 444.50 Td (the ) Tj ET Q q 0 0 0 rg BT 121.96 444.50 Td (implied ) Tj ET Q q 0 0 0 rg BT 147.86 444.50 Td (support ) Tj ET Q q 0 0 0 rg BT 173.32 444.50 Td (of ) Tj ET Q q 0 0 0 rg BT 181.33 444.50 Td (T) Tj ET Q q 0 0 0 rg BT 185.94 444.50 Td (ime ) Tj ET Q q 0 0 0 rg BT 199.29 444.50 Td (W) Tj ET Q q 0 0 0 rg BT 206.20 444.50 Td (arner) Tj ET Q q 0 0 0 rg BT 222.18 444.50 Td (. ) Tj ET Q q 0 0 0 rg BT 225.64 444.50 Td (Ratings ) Tj ET Q q 0 0 0 rg BT 251.54 444.50 Td (agencies ) Tj ET Q q 0 0 0 rg BT 280.54 444.50 Td (have ) Tj ET Q q 0 0 0 rg BT 297.10 444.50 Td (also ) Tj ET Q q 0 0 0 rg BT 311.44 444.50 Td (indicated ) Tj ET Q q 0 0 0 rg BT 342.22 444.50 Td (that ) Tj ET Q q 0 0 0 rg BT 355.67 444.50 Td (retention ) Tj ET Q q 0 0 0 rg BT 385.56 444.50 Td (of ) Tj ET Q q 0 0 0 rg BT 393.68 444.50 Td (these ) Tj ET Q q 0 0 0 rg BT 411.58 444.50 Td (ratings ) Tj ET Q q 0 0 0 rg BT 434.81 444.50 Td (is ) Tj ET Q q 0 0 0 rg BT 441.60 444.50 Td (dependent ) Tj ET Q q 0 0 0 rg BT 475.93 444.50 Td (on ) Tj ET Q q 0 0 0 rg BT 485.39 444.50 Td (maintaining ) Tj ET Q q 0 0 0 rg BT 525.06 444.50 Td (an ) Tj ET Q q 0 0 0 rg BT 534.07 444.50 Td (adequate ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 434.90 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 78.07 434.90 Td (profile. ) Tj ET Q q 0 0 0 rg BT 102.84 434.90 Td (If ) Tj ET Q q 0 0 0 rg BT 109.63 434.90 Td (we ) Tj ET Q q 0 0 0 rg BT 120.41 434.90 Td (fail ) Tj ET Q q 0 0 0 rg BT 132.52 434.90 Td (to ) Tj ET Q q 0 0 0 rg BT 140.20 434.90 Td (meet ) Tj ET Q q 0 0 0 rg BT 157.20 434.90 Td (this ) Tj ET Q q 0 0 0 rg BT 170.21 434.90 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 198.77 434.90 Td (parameter) Tj ET Q q 0 0 0 rg BT 230.43 434.90 Td (, ) Tj ET Q q 0 0 0 rg BT 233.88 434.90 Td (it ) Tj ET Q q 0 0 0 rg BT 239.78 434.90 Td (is ) Tj ET Q q 0 0 0 rg BT 246.57 434.90 Td (likely ) Tj ET Q q 0 0 0 rg BT 266.24 434.90 Td (that ) Tj ET Q q 0 0 0 rg BT 279.69 434.90 Td (the ) Tj ET Q q 0 0 0 rg BT 290.92 434.90 Td (rating ) Tj ET Q q 0 0 0 rg BT 311.03 434.90 Td (agencies ) Tj ET Q q 0 0 0 rg BT 340.02 434.90 Td (will ) Tj ET Q q 0 0 0 rg BT 353.92 434.90 Td (downgrade ) Tj ET Q q 0 0 0 rg BT 390.92 434.90 Td (us. ) Tj ET Q q 0 0 0 rg BT 401.38 434.90 Td (The ) Tj ET Q q 0 0 0 rg BT 415.27 434.90 Td (availability ) Tj ET Q q 0 0 0 rg BT 452.71 434.90 Td (of ) Tj ET Q q 0 0 0 rg BT 460.83 434.90 Td (additional ) Tj ET Q q 0 0 0 rg BT 494.27 434.90 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 522.84 434.90 Td (is ) Tj ET Q q 0 0 0 rg BT 529.63 434.90 Td (dependent ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 425.30 Td (upon ) Tj ET Q q 0 0 0 rg BT 67.45 425.30 Td (our ) Tj ET Q q 0 0 0 rg BT 80.06 425.30 Td (continued ) Tj ET Q q 0 0 0 rg BT 113.56 425.30 Td (operating ) Tj ET Q q 0 0 0 rg BT 145.71 425.30 Td (performance, ) Tj ET Q q 0 0 0 rg BT 190.08 425.30 Td (improved ) Tj ET Q q 0 0 0 rg BT 222.69 425.30 Td (financial ) Tj ET Q q 0 0 0 rg BT 252.62 425.30 Td (performance ) Tj ET Q q 0 0 0 rg BT 294.99 425.30 Td (and ) Tj ET Q q 0 0 0 rg BT 308.49 425.30 Td (credit ) Tj ET Q q 0 0 0 rg BT 328.65 425.30 Td (ratings. ) Tj ET Q q 0 0 0 rg BT 354.23 425.30 Td (W) Tj ET Q q 0 0 0 rg BT 361.14 425.30 Td (e ) Tj ET Q q 0 0 0 rg BT 366.64 425.30 Td (are ) Tj ET Q q 0 0 0 rg BT 378.35 425.30 Td (currently ) Tj ET Q q 0 0 0 rg BT 409.17 425.30 Td (able ) Tj ET Q q 0 0 0 rg BT 424.45 425.30 Td (to ) Tj ET Q q 0 0 0 rg BT 432.62 425.30 Td (raise ) Tj ET Q q 0 0 0 rg BT 449.67 425.30 Td (only ) Tj ET Q q 0 0 0 rg BT 465.84 425.30 Td (a ) Tj ET Q q 0 0 0 rg BT 471.34 425.30 Td (limited ) Tj ET Q q 0 0 0 rg BT 495.95 425.30 Td (amount ) Tj ET Q q 0 0 0 rg BT 521.89 425.30 Td (of ) Tj ET Q q 0 0 0 rg BT 530.51 425.30 Td (additional ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 415.70 Td (debt ) Tj ET Q q 0 0 0 rg BT 64.87 415.70 Td (under ) Tj ET Q q 0 0 0 rg BT 84.67 415.70 Td (our ) Tj ET Q q 0 0 0 rg BT 96.93 415.70 Td (indenture ) Tj ET Q q 0 0 0 rg BT 128.73 415.70 Td (for ) Tj ET Q q 0 0 0 rg BT 139.66 415.70 Td (the ) Tj ET Q q 0 0 0 rg BT 151.02 415.70 Td (2017 ) Tj ET Q q 0 0 0 rg BT 168.61 415.70 Td (PIK ) Tj ET Q q 0 0 0 rg BT 183.10 415.70 Td (Notes ) Tj ET Q q 0 0 0 rg BT 203.35 415.70 Td (\(other ) Tj ET Q q 0 0 0 rg BT 224.05 415.70 Td (than ) Tj ET Q q 0 0 0 rg BT 239.42 415.70 Td (refinancing ) Tj ET Q q 0 0 0 rg BT 277.43 415.70 Td (indebtedness\) ) Tj ET Q q 0 0 0 rg BT 323.01 415.70 Td (or ) Tj ET Q q 0 0 0 rg BT 331.27 415.70 Td (under ) Tj ET Q q 0 0 0 rg BT 351.08 415.70 Td (the ) Tj ET Q q 0 0 0 rg BT 362.45 415.70 Td (agreements ) Tj ET Q q 0 0 0 rg BT 400.46 415.70 Td (for ) Tj ET Q q 0 0 0 rg BT 411.38 415.70 Td (the ) Tj ET Q q 0 0 0 rg BT 422.75 415.70 Td (2017 ) Tj ET Q q 0 0 0 rg BT 440.23 415.70 Td (T) Tj ET Q q 0 0 0 rg BT 444.56 415.70 Td (erm ) Tj ET Q q 0 0 0 rg BT 458.59 415.70 Td (Loan, ) Tj ET Q q 0 0 0 rg BT 478.62 415.70 Td (the ) Tj ET Q q 0 0 0 rg BT 489.98 415.70 Td (2017 ) Tj ET Q q 0 0 0 rg BT 507.58 415.70 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 542.50 415.70 Td (Credit ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 406.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 75.94 406.10 Td (and ) Tj ET Q q 0 0 0 rg BT 89.49 406.10 Td (the ) Tj ET Q q 0 0 0 rg BT 101.27 406.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 119.27 406.10 Td (Euro ) Tj ET Q q 0 0 0 rg BT 136.67 406.10 Td (T) Tj ET Q q 0 0 0 rg BT 141.00 406.10 Td (erm ) Tj ET Q q 0 0 0 rg BT 155.44 406.10 Td (Loan.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 387.50 Td (Cr) Tj ET Q q 0 0 0 rg BT 57.65 387.50 Td (edit ) Tj ET Q q 0 0 0 rg BT 71.65 387.50 Td (risk ) Tj ET Q q 0 0 0 rg BT 85.65 387.50 Td (of ) Tj ET Q q 0 0 0 rg BT 93.87 387.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 124.31 387.50 Td (counterparties) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 371.90 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 371.90 Td (e ) Tj ET Q q 0 0 0 rg BT 61.96 371.90 Td (have ) Tj ET Q q 0 0 0 rg BT 79.06 371.90 Td (entered ) Tj ET Q q 0 0 0 rg BT 104.60 371.90 Td (into ) Tj ET Q q 0 0 0 rg BT 119.05 371.90 Td (a ) Tj ET Q q 0 0 0 rg BT 124.60 371.90 Td (number ) Tj ET Q q 0 0 0 rg BT 151.04 371.90 Td (of ) Tj ET Q q 0 0 0 rg BT 159.70 371.90 Td (significant ) Tj ET Q q 0 0 0 rg BT 195.47 371.90 Td (contracts ) Tj ET Q q 0 0 0 rg BT 226.34 371.90 Td (with ) Tj ET Q q 0 0 0 rg BT 242.57 371.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 272.55 371.90 Td (counterparties ) Tj ET Q q 0 0 0 rg BT 319.86 371.90 Td (as ) Tj ET Q q 0 0 0 rg BT 328.53 371.90 Td (follows:) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 353.30 Td (Inter) Tj ET Q q 0 0 0 rg BT 66.68 353.30 Td (est ) Tj ET Q q 0 0 0 rg BT 78.01 353.30 Td (Rate ) Tj ET Q q 0 0 0 rg BT 96.00 353.30 Td (Swap) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 334.70 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 334.70 Td (e ) Tj ET Q q 0 0 0 rg BT 62.15 334.70 Td (are ) Tj ET Q q 0 0 0 rg BT 74.11 334.70 Td (party ) Tj ET Q q 0 0 0 rg BT 92.73 334.70 Td (to ) Tj ET Q q 0 0 0 rg BT 101.14 334.70 Td (two ) Tj ET Q q 0 0 0 rg BT 115.33 334.70 Td (interest ) Tj ET Q q 0 0 0 rg BT 141.07 334.70 Td (rate ) Tj ET Q q 0 0 0 rg BT 155.25 334.70 Td (swap ) Tj ET Q q 0 0 0 rg BT 173.88 334.70 Td (agreements ) Tj ET Q q 0 0 0 rg BT 212.49 334.70 Td (to ) Tj ET Q q 0 0 0 rg BT 220.91 334.70 Td (mitigate ) Tj ET Q q 0 0 0 rg BT 249.31 334.70 Td (our ) Tj ET Q q 0 0 0 rg BT 262.16 334.70 Td (exposure ) Tj ET Q q 0 0 0 rg BT 293.23 334.70 Td (to ) Tj ET Q q 0 0 0 rg BT 301.64 334.70 Td (interest ) Tj ET Q q 0 0 0 rg BT 327.38 334.70 Td (rate ) Tj ET Q q 0 0 0 rg BT 341.56 334.70 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 381.52 334.70 Td (on ) Tj ET Q q 0 0 0 rg BT 391.71 334.70 Td (our ) Tj ET Q q 0 0 0 rg BT 404.56 334.70 Td (2017 ) Tj ET Q q 0 0 0 rg BT 422.75 334.70 Td (Euro ) Tj ET Q q 0 0 0 rg BT 440.33 334.70 Td (T) Tj ET Q q 0 0 0 rg BT 444.66 334.70 Td (erm ) Tj ET Q q 0 0 0 rg BT 459.29 334.70 Td (Loan. ) Tj ET Q q 0 0 0 rg BT 479.76 334.70 Td (These ) Tj ET Q q 0 0 0 rg BT 501.05 334.70 Td (interest ) Tj ET Q q 0 0 0 rg BT 526.78 334.70 Td (rate ) Tj ET Q q 0 0 0 rg BT 540.96 334.70 Td (swaps, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 325.10 Td (designated ) Tj ET Q q 0 0 0 rg BT 85.64 325.10 Td (as ) Tj ET Q q 0 0 0 rg BT 94.23 325.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 110.37 325.10 Td (flow ) Tj ET Q q 0 0 0 rg BT 126.96 325.10 Td (hedges, ) Tj ET Q q 0 0 0 rg BT 153.10 325.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 179.46 325.10 Td (the ) Tj ET Q q 0 0 0 rg BT 191.16 325.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 224.20 325.10 Td (with ) Tj ET Q q 0 0 0 rg BT 240.34 325.10 Td (variable-rate ) Tj ET Q q 0 0 0 rg BT 282.68 325.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 298.82 325.10 Td (receipts ) Tj ET Q q 0 0 0 rg BT 325.63 325.10 Td (in ) Tj ET Q q 0 0 0 rg BT 333.77 325.10 Td (exchange ) Tj ET Q q 0 0 0 rg BT 365.90 325.10 Td (for ) Tj ET Q q 0 0 0 rg BT 377.16 325.10 Td (fixed-rate ) Tj ET Q q 0 0 0 rg BT 410.17 325.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 442.76 325.10 Td (over ) Tj ET Q q 0 0 0 rg BT 458.90 325.10 Td (the ) Tj ET Q q 0 0 0 rg BT 470.60 325.10 Td (lives ) Tj ET Q q 0 0 0 rg BT 487.63 325.10 Td (of ) Tj ET Q q 0 0 0 rg BT 496.22 325.10 Td (the ) Tj ET Q q 0 0 0 rg BT 507.92 325.10 Td (agreements, ) Tj ET Q q 0 0 0 rg BT 548.27 325.10 Td (with ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 315.50 Td (no ) Tj ET Q q 0 0 0 rg BT 59.50 315.50 Td (exchange ) Tj ET Q q 0 0 0 rg BT 91.70 315.50 Td (of ) Tj ET Q q 0 0 0 rg BT 100.37 315.50 Td (the ) Tj ET Q q 0 0 0 rg BT 112.14 315.50 Td (underlying ) Tj ET Q q 0 0 0 rg BT 148.80 315.50 Td (notional ) Tj ET Q q 0 0 0 rg BT 177.02 315.50 Td (amount.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 296.90 Td (Cash ) Tj ET Q q 0 0 0 rg BT 68.84 296.90 Td (Deposits) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 281.30 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 281.30 Td (e ) Tj ET Q q 0 0 0 rg BT 61.54 281.30 Td (deposit ) Tj ET Q q 0 0 0 rg BT 86.23 281.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 102.03 281.30 Td (in ) Tj ET Q q 0 0 0 rg BT 109.84 281.30 Td (the ) Tj ET Q q 0 0 0 rg BT 121.19 281.30 Td (global ) Tj ET Q q 0 0 0 rg BT 142.77 281.30 Td (money ) Tj ET Q q 0 0 0 rg BT 166.13 281.30 Td (markets ) Tj ET Q q 0 0 0 rg BT 193.03 281.30 Td (with ) Tj ET Q q 0 0 0 rg BT 208.84 281.30 Td (a ) Tj ET Q q 0 0 0 rg BT 213.97 281.30 Td (range ) Tj ET Q q 0 0 0 rg BT 233.32 281.30 Td (of ) Tj ET Q q 0 0 0 rg BT 241.56 281.30 Td (bank ) Tj ET Q q 0 0 0 rg BT 258.70 281.30 Td (counterparties ) Tj ET Q q 0 0 0 rg BT 305.59 281.30 Td (and ) Tj ET Q q 0 0 0 rg BT 318.72 281.30 Td (review ) Tj ET Q q 0 0 0 rg BT 342.07 281.30 Td (the ) Tj ET Q q 0 0 0 rg BT 353.43 281.30 Td (counterparties ) Tj ET Q q 0 0 0 rg BT 400.32 281.30 Td (we ) Tj ET Q q 0 0 0 rg BT 411.23 281.30 Td (choose ) Tj ET Q q 0 0 0 rg BT 435.03 281.30 Td (weekly) Tj ET Q q 0 0 0 rg BT 457.61 281.30 Td (. ) Tj ET Q q 0 0 0 rg BT 461.08 281.30 Td (The ) Tj ET Q q 0 0 0 rg BT 475.10 281.30 Td (maximum ) Tj ET Q q 0 0 0 rg BT 509.12 281.30 Td (period ) Tj ET Q q 0 0 0 rg BT 531.14 281.30 Td (of ) Tj ET Q q 0 0 0 rg BT 539.39 281.30 Td (deposit ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 271.70 Td (is ) Tj ET Q q 0 0 0 rg BT 56.60 271.70 Td (three ) Tj ET Q q 0 0 0 rg BT 74.35 271.70 Td (months ) Tj ET Q q 0 0 0 rg BT 99.67 271.70 Td (but ) Tj ET Q q 0 0 0 rg BT 111.65 271.70 Td (we ) Tj ET Q q 0 0 0 rg BT 122.74 271.70 Td (have ) Tj ET Q q 0 0 0 rg BT 139.60 271.70 Td (more ) Tj ET Q q 0 0 0 rg BT 157.80 271.70 Td (recently ) Tj ET Q q 0 0 0 rg BT 185.32 271.70 Td (held ) Tj ET Q q 0 0 0 rg BT 200.85 271.70 Td (amounts ) Tj ET Q q 0 0 0 rg BT 229.72 271.70 Td (on ) Tj ET Q q 0 0 0 rg BT 239.49 271.70 Td (deposit ) Tj ET Q q 0 0 0 rg BT 264.36 271.70 Td (for ) Tj ET Q q 0 0 0 rg BT 275.44 271.70 Td (shorter ) Tj ET Q q 0 0 0 rg BT 299.42 271.70 Td (periods, ) Tj ET Q q 0 0 0 rg BT 326.73 271.70 Td (from ) Tj ET Q q 0 0 0 rg BT 344.04 271.70 Td (overnight ) Tj ET Q q 0 0 0 rg BT 376.46 271.70 Td (to ) Tj ET Q q 0 0 0 rg BT 384.45 271.70 Td (one ) Tj ET Q q 0 0 0 rg BT 397.76 271.70 Td (month. ) Tj ET Q q 0 0 0 rg BT 421.84 271.70 Td (The ) Tj ET Q q 0 0 0 rg BT 436.04 271.70 Td (credit ) Tj ET Q q 0 0 0 rg BT 456.01 271.70 Td (rating ) Tj ET Q q 0 0 0 rg BT 476.43 271.70 Td (of ) Tj ET Q q 0 0 0 rg BT 484.85 271.70 Td (a ) Tj ET Q q 0 0 0 rg BT 490.16 271.70 Td (bank ) Tj ET Q q 0 0 0 rg BT 507.48 271.70 Td (is ) Tj ET Q q 0 0 0 rg BT 514.57 271.70 Td (a ) Tj ET Q q 0 0 0 rg BT 519.88 271.70 Td (critical ) Tj ET Q q 0 0 0 rg BT 543.85 271.70 Td (factor ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 262.10 Td (in ) Tj ET Q q 0 0 0 rg BT 57.54 262.10 Td (determining ) Tj ET Q q 0 0 0 rg BT 98.02 262.10 Td (the ) Tj ET Q q 0 0 0 rg BT 109.61 262.10 Td (size ) Tj ET Q q 0 0 0 rg BT 123.87 262.10 Td (of ) Tj ET Q q 0 0 0 rg BT 132.35 262.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 148.38 262.10 Td (deposits ) Tj ET Q q 0 0 0 rg BT 176.43 262.10 Td (and ) Tj ET Q q 0 0 0 rg BT 189.80 262.10 Td (we ) Tj ET Q q 0 0 0 rg BT 200.94 262.10 Td (will ) Tj ET Q q 0 0 0 rg BT 215.21 262.10 Td (only ) Tj ET Q q 0 0 0 rg BT 231.25 262.10 Td (deposit ) Tj ET Q q 0 0 0 rg BT 256.18 262.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 272.21 262.10 Td (with ) Tj ET Q q 0 0 0 rg BT 288.26 262.10 Td (banks ) Tj ET Q q 0 0 0 rg BT 308.74 262.10 Td (of ) Tj ET Q q 0 0 0 rg BT 317.22 262.10 Td (an ) Tj ET Q q 0 0 0 rg BT 326.59 262.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 363.52 262.10 Td (grade ) Tj ET Q q 0 0 0 rg BT 383.10 262.10 Td (of ) Tj ET Q q 0 0 0 rg BT 391.18 262.10 Td (A) Tj ET Q q 0 0 0 rg BT 396.52 262.10 Td ( ) Tj ET Q q 0 0 0 rg BT 398.34 262.10 Td (or ) Tj ET Q q 0 0 0 rg BT 406.42 262.10 Td (A3 ) Tj ET Q q 0 0 0 rg BT 418.02 262.10 Td (or ) Tj ET Q q 0 0 0 rg BT 426.50 262.10 Td (higher) Tj ET Q q 0 0 0 rg BT 446.50 262.10 Td (. ) Tj ET Q q 0 0 0 rg BT 450.32 262.10 Td (In ) Tj ET Q q 0 0 0 rg BT 458.80 262.10 Td (addition ) Tj ET Q q 0 0 0 rg BT 486.84 262.10 Td (we ) Tj ET Q q 0 0 0 rg BT 497.99 262.10 Td (also ) Tj ET Q q 0 0 0 rg BT 512.69 262.10 Td (closely ) Tj ET Q q 0 0 0 rg BT 537.17 262.10 Td (monitor ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 252.50 Td (the ) Tj ET Q q 0 0 0 rg BT 61.27 252.50 Td (credit ) Tj ET Q q 0 0 0 rg BT 81.48 252.50 Td (default ) Tj ET Q q 0 0 0 rg BT 105.70 252.50 Td (swap ) Tj ET Q q 0 0 0 rg BT 124.14 252.50 Td (spreads ) Tj ET Q q 0 0 0 rg BT 150.13 252.50 Td (and ) Tj ET Q q 0 0 0 rg BT 163.68 252.50 Td (other ) Tj ET Q q 0 0 0 rg BT 182.12 252.50 Td (market ) Tj ET Q q 0 0 0 rg BT 206.33 252.50 Td (information ) Tj ET Q q 0 0 0 rg BT 246.10 252.50 Td (for ) Tj ET Q q 0 0 0 rg BT 257.43 252.50 Td (each ) Tj ET Q q 0 0 0 rg BT 274.08 252.50 Td (of ) Tj ET Q q 0 0 0 rg BT 282.74 252.50 Td (the ) Tj ET Q q 0 0 0 rg BT 294.52 252.50 Td (banks ) Tj ET Q q 0 0 0 rg BT 315.18 252.50 Td (with ) Tj ET Q q 0 0 0 rg BT 331.40 252.50 Td (which ) Tj ET Q q 0 0 0 rg BT 352.95 252.50 Td (we ) Tj ET Q q 0 0 0 rg BT 364.28 252.50 Td (consider ) Tj ET Q q 0 0 0 rg BT 393.38 252.50 Td (depositing ) Tj ET Q q 0 0 0 rg BT 428.71 252.50 Td (or ) Tj ET Q q 0 0 0 rg BT 437.38 252.50 Td (have ) Tj ET Q q 0 0 0 rg BT 454.48 252.50 Td (deposited ) Tj ET Q q 0 0 0 rg BT 487.14 252.50 Td (funds.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 230.90 Td (III\(e\) ) Tj ET Q q 0 0 0 rg BT 76.50 230.90 Td (Off-Balance ) Tj ET Q q 0 0 0 rg BT 119.82 230.90 Td (Sheet ) Tj ET Q q 0 0 0 rg BT 140.05 230.90 Td (Arrangements) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 215.30 Td (None.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 193.70 Td (IV) Tj ET Q q 0 0 0 rg BT 57.36 193.70 Td (. ) Tj ET Q q 0 0 0 rg BT 76.50 193.70 Td (Critical ) Tj ET Q q 0 0 0 rg BT 104.27 193.70 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 145.38 193.70 Td (Policies ) Tj ET Q q 0 0 0 rg BT 173.15 193.70 Td (and ) Tj ET Q q 0 0 0 rg BT 188.05 193.70 Td (Estimates) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 178.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 63.66 178.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 100.47 178.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 127.06 178.10 Td (af) Tj ET Q q 0 0 0 rg BT 133.13 178.10 Td (fecting ) Tj ET Q q 0 0 0 rg BT 157.06 178.10 Td (our ) Tj ET Q q 0 0 0 rg BT 169.44 178.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 199.13 178.10 Td (condition ) Tj ET Q q 0 0 0 rg BT 231.07 178.10 Td (and ) Tj ET Q q 0 0 0 rg BT 244.33 178.10 Td (results ) Tj ET Q q 0 0 0 rg BT 266.93 178.10 Td (of ) Tj ET Q q 0 0 0 rg BT 275.31 178.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 310.35 178.10 Td (are ) Tj ET Q q 0 0 0 rg BT 321.83 178.10 Td (more ) Tj ET Q q 0 0 0 rg BT 339.98 178.10 Td (fully ) Tj ET Q q 0 0 0 rg BT 356.80 178.10 Td (described ) Tj ET Q q 0 0 0 rg BT 389.17 178.10 Td (in ) Tj ET Q q 0 0 0 rg BT 397.11 178.10 Td (Item ) Tj ET Q q 0 0 0 rg BT 413.48 178.10 Td (8, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.19 178.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 438.46 178.10 Td (2, ) Tj ET Q q 0 0 0 rg BT 446.17 178.10 Td ("Basis ) Tj ET Q q 0 0 0 rg BT 468.49 178.10 Td (of ) Tj ET Q q 0 0 0 rg BT 476.87 178.10 Td (Presentation ) Tj ET Q q 0 0 0 rg BT 518.13 178.10 Td (and ) Tj ET Q q 0 0 0 rg BT 531.39 178.10 Td (Summary ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 168.50 Td (of ) Tj ET Q q 0 0 0 rg BT 57.42 168.50 Td (Significant ) Tj ET Q q 0 0 0 rg BT 93.51 168.50 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 132.09 168.50 Td (Policies") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 160.68 168.50 Td (. ) Tj ET Q q 0 0 0 rg BT 163.85 168.50 Td (The ) Tj ET Q q 0 0 0 rg BT 177.54 168.50 Td (preparation ) Tj ET Q q 0 0 0 rg BT 215.23 168.50 Td (of ) Tj ET Q q 0 0 0 rg BT 223.15 168.50 Td (these ) Tj ET Q q 0 0 0 rg BT 240.84 168.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 270.08 168.50 Td (statements ) Tj ET Q q 0 0 0 rg BT 305.11 168.50 Td (requires ) Tj ET Q q 0 0 0 rg BT 332.13 168.50 Td (us ) Tj ET Q q 0 0 0 rg BT 340.50 168.50 Td (to ) Tj ET Q q 0 0 0 rg BT 347.98 168.50 Td (make ) Tj ET Q q 0 0 0 rg BT 366.56 168.50 Td (judgments ) Tj ET Q q 0 0 0 rg BT 401.15 168.50 Td (in ) Tj ET Q q 0 0 0 rg BT 408.63 168.50 Td (selecting ) Tj ET Q q 0 0 0 rg BT 438.32 168.50 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 476.00 168.50 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 516.82 168.50 Td (for ) Tj ET Q q 0 0 0 rg BT 527.41 168.50 Td (calculating ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 158.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 79.72 158.90 Td (estimates, ) Tj ET Q q 0 0 0 rg BT 113.72 158.90 Td (which ) Tj ET Q q 0 0 0 rg BT 135.51 158.90 Td (inherently ) Tj ET Q q 0 0 0 rg BT 170.18 158.90 Td (contain ) Tj ET Q q 0 0 0 rg BT 195.96 158.90 Td (some ) Tj ET Q q 0 0 0 rg BT 215.08 158.90 Td (degree ) Tj ET Q q 0 0 0 rg BT 238.64 158.90 Td (of ) Tj ET Q q 0 0 0 rg BT 247.54 158.90 Td (uncertainty) Tj ET Q q 0 0 0 rg BT 283.00 158.90 Td (. ) Tj ET Q q 0 0 0 rg BT 287.07 158.90 Td (W) Tj ET Q q 0 0 0 rg BT 293.98 158.90 Td (e ) Tj ET Q q 0 0 0 rg BT 299.77 158.90 Td (base ) Tj ET Q q 0 0 0 rg BT 316.22 158.90 Td (our ) Tj ET Q q 0 0 0 rg BT 329.12 158.90 Td (estimates ) Tj ET Q q 0 0 0 rg BT 361.12 158.90 Td (on ) Tj ET Q q 0 0 0 rg BT 371.36 158.90 Td (historical ) Tj ET Q q 0 0 0 rg BT 403.36 158.90 Td (experience ) Tj ET Q q 0 0 0 rg BT 440.24 158.90 Td (and ) Tj ET Q q 0 0 0 rg BT 454.03 158.90 Td (on ) Tj ET Q q 0 0 0 rg BT 464.26 158.90 Td (various ) Tj ET Q q 0 0 0 rg BT 490.05 158.90 Td (other ) Tj ET Q q 0 0 0 rg BT 508.72 158.90 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 550.52 158.90 Td (that ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 149.30 Td (we ) Tj ET Q q 0 0 0 rg BT 60.79 149.30 Td (believe ) Tj ET Q q 0 0 0 rg BT 85.86 149.30 Td (to ) Tj ET Q q 0 0 0 rg BT 94.04 149.30 Td (be ) Tj ET Q q 0 0 0 rg BT 103.56 149.30 Td (reasonable. ) Tj ET Q q 0 0 0 rg BT 141.73 149.30 Td (Using ) Tj ET Q q 0 0 0 rg BT 162.80 149.30 Td (these ) Tj ET Q q 0 0 0 rg BT 181.21 149.30 Td (estimates ) Tj ET Q q 0 0 0 rg BT 212.94 149.30 Td (we ) Tj ET Q q 0 0 0 rg BT 224.23 149.30 Td (make ) Tj ET Q q 0 0 0 rg BT 243.52 149.30 Td (judgments ) Tj ET Q q 0 0 0 rg BT 278.82 149.30 Td (about ) Tj ET Q q 0 0 0 rg BT 298.56 149.30 Td (the ) Tj ET Q q 0 0 0 rg BT 310.30 149.30 Td (carrying ) Tj ET Q q 0 0 0 rg BT 338.91 149.30 Td (amounts ) Tj ET Q q 0 0 0 rg BT 367.99 149.30 Td (of ) Tj ET Q q 0 0 0 rg BT 376.62 149.30 Td (assets ) Tj ET Q q 0 0 0 rg BT 397.25 149.30 Td (and ) Tj ET Q q 0 0 0 rg BT 410.76 149.30 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 442.50 149.30 Td (and ) Tj ET Q q 0 0 0 rg BT 456.02 149.30 Td (the ) Tj ET Q q 0 0 0 rg BT 467.75 149.30 Td (reported ) Tj ET Q q 0 0 0 rg BT 496.37 149.30 Td (amounts ) Tj ET Q q 0 0 0 rg BT 525.45 149.30 Td (of ) Tj ET Q q 0 0 0 rg BT 534.07 149.30 Td (revenues ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 139.70 Td (and ) Tj ET Q q 0 0 0 rg BT 63.05 139.70 Td (expenses ) Tj ET Q q 0 0 0 rg BT 93.93 139.70 Td (that ) Tj ET Q q 0 0 0 rg BT 107.93 139.70 Td (are ) Tj ET Q q 0 0 0 rg BT 119.69 139.70 Td (not ) Tj ET Q q 0 0 0 rg BT 131.91 139.70 Td (readily ) Tj ET Q q 0 0 0 rg BT 156.13 139.70 Td (apparent ) Tj ET Q q 0 0 0 rg BT 185.66 139.70 Td (from ) Tj ET Q q 0 0 0 rg BT 203.21 139.70 Td (other ) Tj ET Q q 0 0 0 rg BT 221.65 139.70 Td (sources. ) Tj ET Q q 0 0 0 rg BT 249.20 139.70 Td (Actual ) Tj ET Q q 0 0 0 rg BT 272.53 139.70 Td (results ) Tj ET Q q 0 0 0 rg BT 295.41 139.70 Td (may ) Tj ET Q q 0 0 0 rg BT 311.19 139.70 Td (dif) Tj ET Q q 0 0 0 rg BT 319.93 139.70 Td (fer ) Tj ET Q q 0 0 0 rg BT 330.81 139.70 Td (from ) Tj ET Q q 0 0 0 rg BT 348.36 139.70 Td (these ) Tj ET Q q 0 0 0 rg BT 366.80 139.70 Td (estimates ) Tj ET Q q 0 0 0 rg BT 398.57 139.70 Td (under ) Tj ET Q q 0 0 0 rg BT 418.78 139.70 Td (dif) Tj ET Q q 0 0 0 rg BT 427.52 139.70 Td (ferent ) Tj ET Q q 0 0 0 rg BT 448.18 139.70 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 489.73 139.70 Td (or ) Tj ET Q q 0 0 0 rg BT 498.40 139.70 Td (conditions.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 124.10 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 124.10 Td (e ) Tj ET Q q 0 0 0 rg BT 62.34 124.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 87.82 124.10 Td (the ) Tj ET Q q 0 0 0 rg BT 99.97 124.10 Td (following ) Tj ET Q q 0 0 0 rg BT 133.46 124.10 Td (critical ) Tj ET Q q 0 0 0 rg BT 158.04 124.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 195.52 124.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 222.78 124.10 Td (af) Tj ET Q q 0 0 0 rg BT 228.85 124.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 243.22 124.10 Td (our ) Tj ET Q q 0 0 0 rg BT 256.26 124.10 Td (more ) Tj ET Q q 0 0 0 rg BT 275.08 124.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 311.23 124.10 Td (judgments ) Tj ET Q q 0 0 0 rg BT 346.94 124.10 Td (and ) Tj ET Q q 0 0 0 rg BT 360.87 124.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 393.02 124.10 Td (used ) Tj ET Q q 0 0 0 rg BT 410.06 124.10 Td (in ) Tj ET Q q 0 0 0 rg BT 418.66 124.10 Td (the ) Tj ET Q q 0 0 0 rg BT 430.81 124.10 Td (preparation ) Tj ET Q q 0 0 0 rg BT 469.62 124.10 Td (of ) Tj ET Q q 0 0 0 rg BT 478.66 124.10 Td (our ) Tj ET Q q 0 0 0 rg BT 491.70 124.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 534.52 124.10 Td (financial ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 114.50 Td (statements.) Tj ET Q endstream endobj 79 0 obj <>] /Rotate 0 /Contents 80 0 R>> endobj 80 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (37) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 723.45 Td (Pr) Tj ET Q q 0 0 0 rg BT 57.20 723.45 Td (ogram ) Tj ET Q q 0 0 0 rg BT 80.09 723.45 Td (Rights) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 707.85 Td (Program ) Tj ET Q q 0 0 0 rg BT 79.30 707.85 Td (rights ) Tj ET Q q 0 0 0 rg BT 99.77 707.85 Td (consist ) Tj ET Q q 0 0 0 rg BT 124.24 707.85 Td (of ) Tj ET Q q 0 0 0 rg BT 133.15 707.85 Td (programming ) Tj ET Q q 0 0 0 rg BT 178.95 707.85 Td (\(film ) Tj ET Q q 0 0 0 rg BT 197.19 707.85 Td (and ) Tj ET Q q 0 0 0 rg BT 210.99 707.85 Td (television\) ) Tj ET Q q 0 0 0 rg BT 247.01 707.85 Td (acquired ) Tj ET Q q 0 0 0 rg BT 276.79 707.85 Td (from ) Tj ET Q q 0 0 0 rg BT 294.59 707.85 Td (third ) Tj ET Q q 0 0 0 rg BT 311.95 707.85 Td (parties ) Tj ET Q q 0 0 0 rg BT 335.52 707.85 Td (and ) Tj ET Q q 0 0 0 rg BT 349.32 707.85 Td (produced ) Tj ET Q q 0 0 0 rg BT 381.34 707.85 Td (locally) Tj ET Q q 0 0 0 rg BT 402.59 707.85 Td (, ) Tj ET Q q 0 0 0 rg BT 406.83 707.85 Td (which ) Tj ET Q q 0 0 0 rg BT 428.63 707.85 Td (together ) Tj ET Q q 0 0 0 rg BT 457.09 707.85 Td (form ) Tj ET Q q 0 0 0 rg BT 474.89 707.85 Td (an ) Tj ET Q q 0 0 0 rg BT 484.69 707.85 Td (important ) Tj ET Q q 0 0 0 rg BT 518.04 707.85 Td (component ) Tj ET Q q 0 0 0 rg BT 555.84 707.85 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (our ) Tj ET Q q 0 0 0 rg BT 62.57 698.25 Td (station ) Tj ET Q q 0 0 0 rg BT 86.30 698.25 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 129.58 698.25 Td (schedules. ) Tj ET Q q 0 0 0 rg BT 164.55 698.25 Td (Acquired ) Tj ET Q q 0 0 0 rg BT 196.72 698.25 Td (program ) Tj ET Q q 0 0 0 rg BT 226.22 698.25 Td (rights ) Tj ET Q q 0 0 0 rg BT 246.85 698.25 Td (and ) Tj ET Q q 0 0 0 rg BT 260.80 698.25 Td (the ) Tj ET Q q 0 0 0 rg BT 272.98 698.25 Td (related ) Tj ET Q q 0 0 0 rg BT 297.14 698.25 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 329.32 698.25 Td (are ) Tj ET Q q 0 0 0 rg BT 341.49 698.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 371.87 698.25 Td (at ) Tj ET Q q 0 0 0 rg BT 380.04 698.25 Td (their ) Tj ET Q q 0 0 0 rg BT 397.11 698.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 416.40 698.25 Td (value ) Tj ET Q q 0 0 0 rg BT 436.13 698.25 Td (when ) Tj ET Q q 0 0 0 rg BT 455.86 698.25 Td (the ) Tj ET Q q 0 0 0 rg BT 468.03 698.25 Td (license ) Tj ET Q q 0 0 0 rg BT 492.65 698.25 Td (period ) Tj ET Q q 0 0 0 rg BT 515.49 698.25 Td (begins ) Tj ET Q q 0 0 0 rg BT 538.77 698.25 Td (and ) Tj ET Q q 0 0 0 rg BT 552.73 698.25 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 688.65 Td (programs ) Tj ET Q q 0 0 0 rg BT 81.63 688.65 Td (are ) Tj ET Q q 0 0 0 rg BT 93.32 688.65 Td (available ) Tj ET Q q 0 0 0 rg BT 124.11 688.65 Td (for ) Tj ET Q q 0 0 0 rg BT 135.36 688.65 Td (use. ) Tj ET Q q 0 0 0 rg BT 149.80 688.65 Td (Where ) Tj ET Q q 0 0 0 rg BT 173.04 688.65 Td (the ) Tj ET Q q 0 0 0 rg BT 184.73 688.65 Td (initial ) Tj ET Q q 0 0 0 rg BT 205.31 688.65 Td (airing ) Tj ET Q q 0 0 0 rg BT 225.89 688.65 Td (of ) Tj ET Q q 0 0 0 rg BT 234.47 688.65 Td (content ) Tj ET Q q 0 0 0 rg BT 259.94 688.65 Td (allowed ) Tj ET Q q 0 0 0 rg BT 287.18 688.65 Td (by ) Tj ET Q q 0 0 0 rg BT 297.10 688.65 Td (a ) Tj ET Q q 0 0 0 rg BT 302.57 688.65 Td (license ) Tj ET Q q 0 0 0 rg BT 326.70 688.65 Td (is ) Tj ET Q q 0 0 0 rg BT 333.96 688.65 Td (expected ) Tj ET Q q 0 0 0 rg BT 364.30 688.65 Td (to ) Tj ET Q q 0 0 0 rg BT 372.44 688.65 Td (provide ) Tj ET Q q 0 0 0 rg BT 398.80 688.65 Td (more ) Tj ET Q q 0 0 0 rg BT 417.15 688.65 Td (value ) Tj ET Q q 0 0 0 rg BT 436.40 688.65 Td (than ) Tj ET Q q 0 0 0 rg BT 452.09 688.65 Td (subsequent ) Tj ET Q q 0 0 0 rg BT 489.56 688.65 Td (airings, ) Tj ET Q q 0 0 0 rg BT 515.25 688.65 Td (program ) Tj ET Q q 0 0 0 rg BT 544.27 688.65 Td (rights ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 679.05 Td (are ) Tj ET Q q 0 0 0 rg BT 61.33 679.05 Td (amortized ) Tj ET Q q 0 0 0 rg BT 95.37 679.05 Td (over ) Tj ET Q q 0 0 0 rg BT 111.65 679.05 Td (their ) Tj ET Q q 0 0 0 rg BT 128.37 679.05 Td (expected ) Tj ET Q q 0 0 0 rg BT 158.85 679.05 Td (useful ) Tj ET Q q 0 0 0 rg BT 180.46 679.05 Td (lives ) Tj ET Q q 0 0 0 rg BT 197.63 679.05 Td (in ) Tj ET Q q 0 0 0 rg BT 205.92 679.05 Td (a ) Tj ET Q q 0 0 0 rg BT 211.53 679.05 Td (manner ) Tj ET Q q 0 0 0 rg BT 237.58 679.05 Td (which ) Tj ET Q q 0 0 0 rg BT 259.19 679.05 Td (reflects ) Tj ET Q q 0 0 0 rg BT 284.79 679.05 Td (the ) Tj ET Q q 0 0 0 rg BT 296.62 679.05 Td (pattern ) Tj ET Q q 0 0 0 rg BT 320.89 679.05 Td (we ) Tj ET Q q 0 0 0 rg BT 332.28 679.05 Td (expect ) Tj ET Q q 0 0 0 rg BT 355.22 679.05 Td (to ) Tj ET Q q 0 0 0 rg BT 363.50 679.05 Td (use ) Tj ET Q q 0 0 0 rg BT 376.23 679.05 Td (and ) Tj ET Q q 0 0 0 rg BT 389.84 679.05 Td (benefit ) Tj ET Q q 0 0 0 rg BT 414.11 679.05 Td (from ) Tj ET Q q 0 0 0 rg BT 431.72 679.05 Td (the ) Tj ET Q q 0 0 0 rg BT 443.55 679.05 Td (programming. ) Tj ET Q q 0 0 0 rg BT 491.01 679.05 Td (These ) Tj ET Q q 0 0 0 rg BT 512.18 679.05 Td (films ) Tj ET Q q 0 0 0 rg BT 530.68 679.05 Td (and ) Tj ET Q q 0 0 0 rg BT 544.29 679.05 Td (series ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 669.45 Td (are ) Tj ET Q q 0 0 0 rg BT 61.27 669.45 Td (amortized ) Tj ET Q q 0 0 0 rg BT 95.25 669.45 Td (with ) Tj ET Q q 0 0 0 rg BT 111.48 669.45 Td (the ) Tj ET Q q 0 0 0 rg BT 123.25 669.45 Td (amortization ) Tj ET Q q 0 0 0 rg BT 165.69 669.45 Td (char) Tj ET Q q 0 0 0 rg BT 179.31 669.45 Td (ged ) Tj ET Q q 0 0 0 rg BT 192.86 669.45 Td (in ) Tj ET Q q 0 0 0 rg BT 201.08 669.45 Td (respect ) Tj ET Q q 0 0 0 rg BT 225.74 669.45 Td (of ) Tj ET Q q 0 0 0 rg BT 234.40 669.45 Td (each ) Tj ET Q q 0 0 0 rg BT 251.06 669.45 Td (airing ) Tj ET Q q 0 0 0 rg BT 271.72 669.45 Td (calculated ) Tj ET Q q 0 0 0 rg BT 306.14 669.45 Td (in ) Tj ET Q q 0 0 0 rg BT 314.37 669.45 Td (accordance ) Tj ET Q q 0 0 0 rg BT 352.34 669.45 Td (with ) Tj ET Q q 0 0 0 rg BT 368.56 669.45 Td (a ) Tj ET Q q 0 0 0 rg BT 374.12 669.45 Td (schedule ) Tj ET Q q 0 0 0 rg BT 404.11 669.45 Td (that ) Tj ET Q q 0 0 0 rg BT 418.11 669.45 Td (reflects ) Tj ET Q q 0 0 0 rg BT 443.65 669.45 Td (our ) Tj ET Q q 0 0 0 rg BT 456.31 669.45 Td (estimate ) Tj ET Q q 0 0 0 rg BT 484.97 669.45 Td (of ) Tj ET Q q 0 0 0 rg BT 493.64 669.45 Td (the ) Tj ET Q q 0 0 0 rg BT 505.41 669.45 Td (relative ) Tj ET Q q 0 0 0 rg BT 531.40 669.45 Td (economic ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 659.85 Td (value ) Tj ET Q q 0 0 0 rg BT 68.67 659.85 Td (of ) Tj ET Q q 0 0 0 rg BT 77.18 659.85 Td (each ) Tj ET Q q 0 0 0 rg BT 93.67 659.85 Td (run. ) Tj ET Q q 0 0 0 rg BT 108.05 659.85 Td (W) Tj ET Q q 0 0 0 rg BT 114.96 659.85 Td (e ) Tj ET Q q 0 0 0 rg BT 120.35 659.85 Td (review ) Tj ET Q q 0 0 0 rg BT 143.96 659.85 Td (our ) Tj ET Q q 0 0 0 rg BT 156.47 659.85 Td (programming ) Tj ET Q q 0 0 0 rg BT 201.86 659.85 Td (amortization ) Tj ET Q q 0 0 0 rg BT 244.13 659.85 Td (policy ) Tj ET Q q 0 0 0 rg BT 265.97 659.85 Td (on ) Tj ET Q q 0 0 0 rg BT 275.82 659.85 Td (a ) Tj ET Q q 0 0 0 rg BT 281.21 659.85 Td (triennial ) Tj ET Q q 0 0 0 rg BT 309.71 659.85 Td (basis ) Tj ET Q q 0 0 0 rg BT 327.55 659.85 Td (or ) Tj ET Q q 0 0 0 rg BT 336.06 659.85 Td (when ) Tj ET Q q 0 0 0 rg BT 355.23 659.85 Td (events ) Tj ET Q q 0 0 0 rg BT 377.52 659.85 Td (occur ) Tj ET Q q 0 0 0 rg BT 397.12 659.85 Td (or ) Tj ET Q q 0 0 0 rg BT 405.63 659.85 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 452.79 659.85 Td (change ) Tj ET Q q 0 0 0 rg BT 477.28 659.85 Td (that ) Tj ET Q q 0 0 0 rg BT 491.12 659.85 Td (would ) Tj ET Q q 0 0 0 rg BT 512.97 659.85 Td (so ) Tj ET Q q 0 0 0 rg BT 521.93 659.85 Td (require. ) Tj ET Q q 0 0 0 rg BT 548.29 659.85 Td (This ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 650.25 Td (triennial ) Tj ET Q q 0 0 0 rg BT 78.53 650.25 Td (review ) Tj ET Q q 0 0 0 rg BT 102.67 650.25 Td (included ) Tj ET Q q 0 0 0 rg BT 132.60 650.25 Td (a ) Tj ET Q q 0 0 0 rg BT 138.52 650.25 Td (study ) Tj ET Q q 0 0 0 rg BT 158.24 650.25 Td (of ) Tj ET Q q 0 0 0 rg BT 167.28 650.25 Td (the ) Tj ET Q q 0 0 0 rg BT 179.42 650.25 Td (relative ) Tj ET Q q 0 0 0 rg BT 205.79 650.25 Td (value ) Tj ET Q q 0 0 0 rg BT 225.49 650.25 Td (generated ) Tj ET Q q 0 0 0 rg BT 258.95 650.25 Td (by ) Tj ET Q q 0 0 0 rg BT 269.33 650.25 Td (all ) Tj ET Q q 0 0 0 rg BT 279.70 650.25 Td (runs ) Tj ET Q q 0 0 0 rg BT 295.85 650.25 Td (of ) Tj ET Q q 0 0 0 rg BT 304.89 650.25 Td (a ) Tj ET Q q 0 0 0 rg BT 310.82 650.25 Td (license ) Tj ET Q q 0 0 0 rg BT 335.41 650.25 Td (in ) Tj ET Q q 0 0 0 rg BT 344.00 650.25 Td (past ) Tj ET Q q 0 0 0 rg BT 359.27 650.25 Td (periods. ) Tj ET Q q 0 0 0 rg BT 387.02 650.25 Td (W) Tj ET Q q 0 0 0 rg BT 393.93 650.25 Td (e ) Tj ET Q q 0 0 0 rg BT 399.86 650.25 Td (concluded ) Tj ET Q q 0 0 0 rg BT 435.11 650.25 Td (that ) Tj ET Q q 0 0 0 rg BT 449.48 650.25 Td (the ) Tj ET Q q 0 0 0 rg BT 461.63 650.25 Td (existing ) Tj ET Q q 0 0 0 rg BT 489.34 650.25 Td (allocation ) Tj ET Q q 0 0 0 rg BT 523.26 650.25 Td (for ) Tj ET Q q 0 0 0 rg BT 534.96 650.25 Td (acquired ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 640.65 Td (program ) Tj ET Q q 0 0 0 rg BT 78.56 640.65 Td (rights ) Tj ET Q q 0 0 0 rg BT 98.75 640.65 Td (with ) Tj ET Q q 0 0 0 rg BT 114.93 640.65 Td (an ) Tj ET Q q 0 0 0 rg BT 124.44 640.65 Td (estimated ) Tj ET Q q 0 0 0 rg BT 157.06 640.65 Td (two ) Tj ET Q q 0 0 0 rg BT 171.02 640.65 Td (or ) Tj ET Q q 0 0 0 rg BT 179.64 640.65 Td (three ) Tj ET Q q 0 0 0 rg BT 197.59 640.65 Td (runs ) Tj ET Q q 0 0 0 rg BT 213.33 640.65 Td (was ) Tj ET Q q 0 0 0 rg BT 227.73 640.65 Td (still ) Tj ET Q q 0 0 0 rg BT 241.70 640.65 Td (appropriate. ) Tj ET Q q 0 0 0 rg BT 282.09 640.65 Td (However) Tj ET Q q 0 0 0 rg BT 311.09 640.65 Td (, ) Tj ET Q q 0 0 0 rg BT 315.05 640.65 Td (we ) Tj ET Q q 0 0 0 rg BT 326.34 640.65 Td (estimate ) Tj ET Q q 0 0 0 rg BT 354.95 640.65 Td (that ) Tj ET Q q 0 0 0 rg BT 368.91 640.65 Td (the ) Tj ET Q q 0 0 0 rg BT 380.64 640.65 Td (first ) Tj ET Q q 0 0 0 rg BT 395.49 640.65 Td (run ) Tj ET Q q 0 0 0 rg BT 408.12 640.65 Td (of ) Tj ET Q q 0 0 0 rg BT 416.74 640.65 Td (our ) Tj ET Q q 0 0 0 rg BT 429.37 640.65 Td (own-produced ) Tj ET Q q 0 0 0 rg BT 477.54 640.65 Td (program ) Tj ET Q q 0 0 0 rg BT 506.60 640.65 Td (rights ) Tj ET Q q 0 0 0 rg BT 526.78 640.65 Td (library ) Tj ET Q q 0 0 0 rg BT 550.07 640.65 Td (will ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 631.05 Td (generate ) Tj ET Q q 0 0 0 rg BT 78.59 631.05 Td (more ) Tj ET Q q 0 0 0 rg BT 97.03 631.05 Td (value ) Tj ET Q q 0 0 0 rg BT 116.35 631.05 Td (relative ) Tj ET Q q 0 0 0 rg BT 142.34 631.05 Td (to ) Tj ET Q q 0 0 0 rg BT 150.56 631.05 Td (subsequent ) Tj ET Q q 0 0 0 rg BT 188.11 631.05 Td (runs ) Tj ET Q q 0 0 0 rg BT 203.89 631.05 Td (than ) Tj ET Q q 0 0 0 rg BT 219.66 631.05 Td (our ) Tj ET Q q 0 0 0 rg BT 232.32 631.05 Td (previous ) Tj ET Q q 0 0 0 rg BT 261.88 631.05 Td (estimate.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (The ) Tj ET Q q 0 0 0 rg BT 63.63 615.45 Td (program ) Tj ET Q q 0 0 0 rg BT 92.42 615.45 Td (library ) Tj ET Q q 0 0 0 rg BT 115.43 615.45 Td (is ) Tj ET Q q 0 0 0 rg BT 122.46 615.45 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 154.80 615.45 Td (at ) Tj ET Q q 0 0 0 rg BT 162.26 615.45 Td (least ) Tj ET Q q 0 0 0 rg BT 178.61 615.45 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 209.18 615.45 Td (to ) Tj ET Q q 0 0 0 rg BT 217.09 615.45 Td (determine ) Tj ET Q q 0 0 0 rg BT 250.77 615.45 Td (if ) Tj ET Q q 0 0 0 rg BT 257.34 615.45 Td (expected ) Tj ET Q q 0 0 0 rg BT 287.46 615.45 Td (revenues ) Tj ET Q q 0 0 0 rg BT 317.58 615.45 Td (are ) Tj ET Q q 0 0 0 rg BT 329.04 615.45 Td (suf) Tj ET Q q 0 0 0 rg BT 338.67 615.45 Td (ficient ) Tj ET Q q 0 0 0 rg BT 360.79 615.45 Td (to ) Tj ET Q q 0 0 0 rg BT 368.71 615.45 Td (cover ) Tj ET Q q 0 0 0 rg BT 388.16 615.45 Td (the ) Tj ET Q q 0 0 0 rg BT 399.63 615.45 Td (unamortized ) Tj ET Q q 0 0 0 rg BT 441.30 615.45 Td (portion ) Tj ET Q q 0 0 0 rg BT 466.10 615.45 Td (of ) Tj ET Q q 0 0 0 rg BT 474.46 615.45 Td (each ) Tj ET Q q 0 0 0 rg BT 490.80 615.45 Td (program. ) Tj ET Q q 0 0 0 rg BT 521.47 615.45 Td (T) Tj ET Q q 0 0 0 rg BT 525.80 615.45 Td (o ) Tj ET Q q 0 0 0 rg BT 531.49 615.45 Td (the ) Tj ET Q q 0 0 0 rg BT 542.95 615.45 Td (extent ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 605.85 Td (that ) Tj ET Q q 0 0 0 rg BT 63.51 605.85 Td (the ) Tj ET Q q 0 0 0 rg BT 75.29 605.85 Td (revenues ) Tj ET Q q 0 0 0 rg BT 105.73 605.85 Td (we ) Tj ET Q q 0 0 0 rg BT 117.07 605.85 Td (expect ) Tj ET Q q 0 0 0 rg BT 139.96 605.85 Td (to ) Tj ET Q q 0 0 0 rg BT 148.20 605.85 Td (earn ) Tj ET Q q 0 0 0 rg BT 163.97 605.85 Td (from ) Tj ET Q q 0 0 0 rg BT 181.54 605.85 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 224.42 605.85 Td (a ) Tj ET Q q 0 0 0 rg BT 229.98 605.85 Td (program ) Tj ET Q q 0 0 0 rg BT 259.10 605.85 Td (are ) Tj ET Q q 0 0 0 rg BT 270.88 605.85 Td (lower ) Tj ET Q q 0 0 0 rg BT 291.10 605.85 Td (than ) Tj ET Q q 0 0 0 rg BT 306.89 605.85 Td (the ) Tj ET Q q 0 0 0 rg BT 318.67 605.85 Td (book ) Tj ET Q q 0 0 0 rg BT 336.68 605.85 Td (value, ) Tj ET Q q 0 0 0 rg BT 358.02 605.85 Td (the ) Tj ET Q q 0 0 0 rg BT 369.80 605.85 Td (program ) Tj ET Q q 0 0 0 rg BT 398.92 605.85 Td (rights ) Tj ET Q q 0 0 0 rg BT 419.15 605.85 Td (are ) Tj ET Q q 0 0 0 rg BT 430.93 605.85 Td (written ) Tj ET Q q 0 0 0 rg BT 455.60 605.85 Td (down ) Tj ET Q q 0 0 0 rg BT 475.39 605.85 Td (to ) Tj ET Q q 0 0 0 rg BT 483.63 605.85 Td (their ) Tj ET Q q 0 0 0 rg BT 500.30 605.85 Td (net ) Tj ET Q q 0 0 0 rg BT 512.08 605.85 Td (realizable ) Tj ET Q q 0 0 0 rg BT 545.18 605.85 Td (value ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 596.25 Td (by ) Tj ET Q q 0 0 0 rg BT 59.40 596.25 Td (recording ) Tj ET Q q 0 0 0 rg BT 91.95 596.25 Td (an ) Tj ET Q q 0 0 0 rg BT 101.39 596.25 Td (impairment ) Tj ET Q q 0 0 0 rg BT 140.17 596.25 Td (char) Tj ET Q q 0 0 0 rg BT 153.79 596.25 Td (ge. ) Tj ET Q q 0 0 0 rg BT 164.82 596.25 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 204.29 596.25 Td (, ) Tj ET Q q 0 0 0 rg BT 208.18 596.25 Td (our ) Tj ET Q q 0 0 0 rg BT 220.74 596.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 252.41 596.25 Td (of ) Tj ET Q q 0 0 0 rg BT 260.97 596.25 Td (future ) Tj ET Q q 0 0 0 rg BT 281.97 596.25 Td (advertising ) Tj ET Q q 0 0 0 rg BT 319.41 596.25 Td (and ) Tj ET Q q 0 0 0 rg BT 332.86 596.25 Td (other ) Tj ET Q q 0 0 0 rg BT 351.19 596.25 Td (revenues, ) Tj ET Q q 0 0 0 rg BT 383.52 596.25 Td (and ) Tj ET Q q 0 0 0 rg BT 396.97 596.25 Td (our ) Tj ET Q q 0 0 0 rg BT 409.53 596.25 Td (future ) Tj ET Q q 0 0 0 rg BT 430.52 596.25 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 473.30 596.25 Td (schedules ) Tj ET Q q 0 0 0 rg BT 506.29 596.25 Td (have ) Tj ET Q q 0 0 0 rg BT 523.29 596.25 Td (a ) Tj ET Q q 0 0 0 rg BT 528.74 596.25 Td (significant ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 586.65 Td (impact ) Tj ET Q q 0 0 0 rg BT 72.64 586.65 Td (on ) Tj ET Q q 0 0 0 rg BT 82.01 586.65 Td (the ) Tj ET Q q 0 0 0 rg BT 93.16 586.65 Td (value ) Tj ET Q q 0 0 0 rg BT 111.86 586.65 Td (of ) Tj ET Q q 0 0 0 rg BT 119.89 586.65 Td (our ) Tj ET Q q 0 0 0 rg BT 131.93 586.65 Td (program ) Tj ET Q q 0 0 0 rg BT 160.40 586.65 Td (rights ) Tj ET Q q 0 0 0 rg BT 180.00 586.65 Td (on ) Tj ET Q q 0 0 0 rg BT 189.37 586.65 Td (the ) Tj ET Q q 0 0 0 rg BT 200.51 586.65 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 242.32 586.65 Td (balance ) Tj ET Q q 0 0 0 rg BT 268.12 586.65 Td (sheet ) Tj ET Q q 0 0 0 rg BT 285.93 586.65 Td (and ) Tj ET Q q 0 0 0 rg BT 298.85 586.65 Td (the ) Tj ET Q q 0 0 0 rg BT 310.00 586.65 Td (annual ) Tj ET Q q 0 0 0 rg BT 332.69 586.65 Td (programming ) Tj ET Q q 0 0 0 rg BT 377.61 586.65 Td (amortization ) Tj ET Q q 0 0 0 rg BT 419.41 586.65 Td (char) Tj ET Q q 0 0 0 rg BT 433.03 586.65 Td (ge ) Tj ET Q q 0 0 0 rg BT 441.96 586.65 Td (recorded ) Tj ET Q q 0 0 0 rg BT 471.31 586.65 Td (in ) Tj ET Q q 0 0 0 rg BT 478.90 586.65 Td (the ) Tj ET Q q 0 0 0 rg BT 490.05 586.65 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 531.85 586.65 Td (statement ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 577.05 Td (of ) Tj ET Q q 0 0 0 rg BT 58.16 577.05 Td (operations ) Tj ET Q q 0 0 0 rg BT 93.49 577.05 Td (and ) Tj ET Q q 0 0 0 rg BT 107.04 577.05 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 157.46 577.05 Td (income. ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 558.45 Td (Pr) Tj ET Q q 0 0 0 rg BT 57.20 558.45 Td (oduced ) Tj ET Q q 0 0 0 rg BT 82.30 558.45 Td (Pr) Tj ET Q q 0 0 0 rg BT 90.01 558.45 Td (ogram ) Tj ET Q q 0 0 0 rg BT 112.90 558.45 Td (Rights) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 542.85 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 542.85 Td (e ) Tj ET Q q 0 0 0 rg BT 61.82 542.85 Td (also ) Tj ET Q q 0 0 0 rg BT 76.57 542.85 Td (produce ) Tj ET Q q 0 0 0 rg BT 104.20 542.85 Td (and ) Tj ET Q q 0 0 0 rg BT 117.61 542.85 Td (license ) Tj ET Q q 0 0 0 rg BT 141.68 542.85 Td (a ) Tj ET Q q 0 0 0 rg BT 147.09 542.85 Td (variety ) Tj ET Q q 0 0 0 rg BT 171.17 542.85 Td (of ) Tj ET Q q 0 0 0 rg BT 179.69 542.85 Td (filmed ) Tj ET Q q 0 0 0 rg BT 202.44 542.85 Td (content. ) Tj ET Q q 0 0 0 rg BT 229.71 542.85 Td (The ) Tj ET Q q 0 0 0 rg BT 244.01 542.85 Td (majority ) Tj ET Q q 0 0 0 rg BT 272.98 542.85 Td (of ) Tj ET Q q 0 0 0 rg BT 281.50 542.85 Td (this ) Tj ET Q q 0 0 0 rg BT 294.92 542.85 Td (is ) Tj ET Q q 0 0 0 rg BT 302.12 542.85 Td (television ) Tj ET Q q 0 0 0 rg BT 335.08 542.85 Td (movies ) Tj ET Q q 0 0 0 rg BT 360.06 542.85 Td (and ) Tj ET Q q 0 0 0 rg BT 373.47 542.85 Td (series ) Tj ET Q q 0 0 0 rg BT 393.54 542.85 Td (which ) Tj ET Q q 0 0 0 rg BT 414.96 542.85 Td (are ) Tj ET Q q 0 0 0 rg BT 426.58 542.85 Td (predominantly ) Tj ET Q q 0 0 0 rg BT 475.10 542.85 Td (expected ) Tj ET Q q 0 0 0 rg BT 505.39 542.85 Td (to ) Tj ET Q q 0 0 0 rg BT 513.47 542.85 Td (be ) Tj ET Q q 0 0 0 rg BT 522.88 542.85 Td (exploited ) Tj ET Q q 0 0 0 rg BT 554.51 542.85 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 533.25 Td (transmission ) Tj ET Q q 0 0 0 rg BT 91.85 533.25 Td (on ) Tj ET Q q 0 0 0 rg BT 101.76 533.25 Td (our ) Tj ET Q q 0 0 0 rg BT 114.33 533.25 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 146.89 533.25 Td (stations. ) Tj ET Q q 0 0 0 rg BT 175.25 533.25 Td (In ) Tj ET Q q 0 0 0 rg BT 183.82 533.25 Td (addition ) Tj ET Q q 0 0 0 rg BT 211.95 533.25 Td (to ) Tj ET Q q 0 0 0 rg BT 220.08 533.25 Td (this ) Tj ET Q q 0 0 0 rg BT 233.54 533.25 Td (we ) Tj ET Q q 0 0 0 rg BT 244.78 533.25 Td (also ) Tj ET Q q 0 0 0 rg BT 259.58 533.25 Td (produce ) Tj ET Q q 0 0 0 rg BT 287.25 533.25 Td (feature ) Tj ET Q q 0 0 0 rg BT 311.36 533.25 Td (films ) Tj ET Q q 0 0 0 rg BT 329.71 533.25 Td (which ) Tj ET Q q 0 0 0 rg BT 351.17 533.25 Td (are ) Tj ET Q q 0 0 0 rg BT 362.85 533.25 Td (intended ) Tj ET Q q 0 0 0 rg BT 392.30 533.25 Td (to ) Tj ET Q q 0 0 0 rg BT 400.43 533.25 Td (be ) Tj ET Q q 0 0 0 rg BT 409.89 533.25 Td (exploited ) Tj ET Q q 0 0 0 rg BT 441.57 533.25 Td (initially ) Tj ET Q q 0 0 0 rg BT 468.37 533.25 Td (through ) Tj ET Q q 0 0 0 rg BT 495.16 533.25 Td (exhibition ) Tj ET Q q 0 0 0 rg BT 529.51 533.25 Td (in ) Tj ET Q q 0 0 0 rg BT 537.64 533.25 Td (theaters ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 523.65 Td (and ) Tj ET Q q 0 0 0 rg BT 63.05 523.65 Td (subsequently ) Tj ET Q q 0 0 0 rg BT 106.82 523.65 Td (through ) Tj ET Q q 0 0 0 rg BT 133.71 523.65 Td (sales ) Tj ET Q q 0 0 0 rg BT 151.26 523.65 Td (in ) Tj ET Q q 0 0 0 rg BT 159.48 523.65 Td (one ) Tj ET Q q 0 0 0 rg BT 173.04 523.65 Td (or ) Tj ET Q q 0 0 0 rg BT 181.70 523.65 Td (more ) Tj ET Q q 0 0 0 rg BT 200.14 523.65 Td (of ) Tj ET Q q 0 0 0 rg BT 208.80 523.65 Td (the ) Tj ET Q q 0 0 0 rg BT 220.57 523.65 Td (home ) Tj ET Q q 0 0 0 rg BT 240.35 523.65 Td (video, ) Tj ET Q q 0 0 0 rg BT 262.12 523.65 Td (pay ) Tj ET Q q 0 0 0 rg BT 275.53 523.65 Td (TV) Tj ET Q q 0 0 0 rg BT 285.16 523.65 Td (, ) Tj ET Q q 0 0 0 rg BT 289.16 523.65 Td (free ) Tj ET Q q 0 0 0 rg BT 303.45 523.65 Td (TV) Tj ET Q q 0 0 0 rg BT 313.08 523.65 Td (, ) Tj ET Q q 0 0 0 rg BT 317.08 523.65 Td (international ) Tj ET Q q 0 0 0 rg BT 359.51 523.65 Td (syndication ) Tj ET Q q 0 0 0 rg BT 398.39 523.65 Td (and ) Tj ET Q q 0 0 0 rg BT 411.94 523.65 Td (internet ) Tj ET Q q 0 0 0 rg BT 438.38 523.65 Td (markets.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 508.05 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 508.05 Td (e ) Tj ET Q q 0 0 0 rg BT 61.67 508.05 Td (recognize ) Tj ET Q q 0 0 0 rg BT 94.47 508.05 Td (revenue ) Tj ET Q q 0 0 0 rg BT 121.50 508.05 Td (from ) Tj ET Q q 0 0 0 rg BT 138.76 508.05 Td (filmed ) Tj ET Q q 0 0 0 rg BT 161.36 508.05 Td (content ) Tj ET Q q 0 0 0 rg BT 186.61 508.05 Td (when ) Tj ET Q q 0 0 0 rg BT 205.65 508.05 Td (the ) Tj ET Q q 0 0 0 rg BT 217.14 508.05 Td (revenue ) Tj ET Q q 0 0 0 rg BT 244.16 508.05 Td (recognition ) Tj ET Q q 0 0 0 rg BT 282.31 508.05 Td (criteria ) Tj ET Q q 0 0 0 rg BT 306.67 508.05 Td (are ) Tj ET Q q 0 0 0 rg BT 318.14 508.05 Td (met. ) Tj ET Q q 0 0 0 rg BT 333.85 508.05 Td (In ) Tj ET Q q 0 0 0 rg BT 342.23 508.05 Td (practice, ) Tj ET Q q 0 0 0 rg BT 371.25 508.05 Td (it ) Tj ET Q q 0 0 0 rg BT 377.41 508.05 Td (usually ) Tj ET Q q 0 0 0 rg BT 402.23 508.05 Td (means ) Tj ET Q q 0 0 0 rg BT 424.38 508.05 Td (revenue ) Tj ET Q q 0 0 0 rg BT 451.40 508.05 Td (on ) Tj ET Q q 0 0 0 rg BT 461.11 508.05 Td (the ) Tj ET Q q 0 0 0 rg BT 472.60 508.05 Td (sale ) Tj ET Q q 0 0 0 rg BT 486.75 508.05 Td (of ) Tj ET Q q 0 0 0 rg BT 495.12 508.05 Td (content ) Tj ET Q q 0 0 0 rg BT 520.38 508.05 Td (is ) Tj ET Q q 0 0 0 rg BT 527.43 508.05 Td (recognized ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 498.45 Td (when ) Tj ET Q q 0 0 0 rg BT 68.83 498.45 Td (the ) Tj ET Q q 0 0 0 rg BT 80.60 498.45 Td (finished ) Tj ET Q q 0 0 0 rg BT 108.38 498.45 Td (content ) Tj ET Q q 0 0 0 rg BT 133.92 498.45 Td (is ) Tj ET Q q 0 0 0 rg BT 141.26 498.45 Td (available ) Tj ET Q q 0 0 0 rg BT 172.13 498.45 Td (for ) Tj ET Q q 0 0 0 rg BT 183.46 498.45 Td (third ) Tj ET Q q 0 0 0 rg BT 200.57 498.45 Td (parties ) Tj ET Q q 0 0 0 rg BT 223.89 498.45 Td (\(unless ) Tj ET Q q 0 0 0 rg BT 248.55 498.45 Td (the ) Tj ET Q q 0 0 0 rg BT 260.33 498.45 Td (license ) Tj ET Q q 0 0 0 rg BT 284.54 498.45 Td (period ) Tj ET Q q 0 0 0 rg BT 306.98 498.45 Td (has ) Tj ET Q q 0 0 0 rg BT 319.64 498.45 Td (not ) Tj ET Q q 0 0 0 rg BT 331.86 498.45 Td (begun\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 482.85 Td (Produced ) Tj ET Q q 0 0 0 rg BT 81.26 482.85 Td (program ) Tj ET Q q 0 0 0 rg BT 109.91 482.85 Td (rights ) Tj ET Q q 0 0 0 rg BT 129.68 482.85 Td (as ) Tj ET Q q 0 0 0 rg BT 137.89 482.85 Td (shown ) Tj ET Q q 0 0 0 rg BT 160.33 482.85 Td (in ) Tj ET Q q 0 0 0 rg BT 168.10 482.85 Td (the ) Tj ET Q q 0 0 0 rg BT 179.42 482.85 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 221.41 482.85 Td (balance ) Tj ET Q q 0 0 0 rg BT 247.38 482.85 Td (sheet ) Tj ET Q q 0 0 0 rg BT 265.37 482.85 Td (represent ) Tj ET Q q 0 0 0 rg BT 296.23 482.85 Td (the ) Tj ET Q q 0 0 0 rg BT 307.55 482.85 Td (unamortized ) Tj ET Q q 0 0 0 rg BT 349.08 482.85 Td (cost ) Tj ET Q q 0 0 0 rg BT 363.52 482.85 Td (of ) Tj ET Q q 0 0 0 rg BT 371.73 482.85 Td (completed ) Tj ET Q q 0 0 0 rg BT 406.60 482.85 Td (theatrical ) Tj ET Q q 0 0 0 rg BT 437.90 482.85 Td (films ) Tj ET Q q 0 0 0 rg BT 455.90 482.85 Td (and ) Tj ET Q q 0 0 0 rg BT 469.00 482.85 Td (television ) Tj ET Q q 0 0 0 rg BT 501.65 482.85 Td (episodes, ) Tj ET Q q 0 0 0 rg BT 532.75 482.85 Td (theatrical ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 473.25 Td (films ) Tj ET Q q 0 0 0 rg BT 67.77 473.25 Td (and ) Tj ET Q q 0 0 0 rg BT 81.14 473.25 Td (television ) Tj ET Q q 0 0 0 rg BT 114.07 473.25 Td (series ) Tj ET Q q 0 0 0 rg BT 134.10 473.25 Td (in ) Tj ET Q q 0 0 0 rg BT 142.15 473.25 Td (production ) Tj ET Q q 0 0 0 rg BT 178.63 473.25 Td (and ) Tj ET Q q 0 0 0 rg BT 192.00 473.25 Td (film ) Tj ET Q q 0 0 0 rg BT 207.15 473.25 Td (rights ) Tj ET Q q 0 0 0 rg BT 227.20 473.25 Td (in ) Tj ET Q q 0 0 0 rg BT 235.24 473.25 Td (preparation ) Tj ET Q q 0 0 0 rg BT 273.49 473.25 Td (of ) Tj ET Q q 0 0 0 rg BT 281.97 473.25 Td (development. ) Tj ET Q q 0 0 0 rg BT 327.11 473.25 Td (Produced ) Tj ET Q q 0 0 0 rg BT 359.15 473.25 Td (program ) Tj ET Q q 0 0 0 rg BT 388.07 473.25 Td (rights, ) Tj ET Q q 0 0 0 rg BT 410.12 473.25 Td (which ) Tj ET Q q 0 0 0 rg BT 431.49 473.25 Td (include ) Tj ET Q q 0 0 0 rg BT 456.86 473.25 Td (direct ) Tj ET Q q 0 0 0 rg BT 476.89 473.25 Td (costs, ) Tj ET Q q 0 0 0 rg BT 496.71 473.25 Td (production ) Tj ET Q q 0 0 0 rg BT 533.19 473.25 Td (overhead ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 463.65 Td (and ) Tj ET Q q 0 0 0 rg BT 63.05 463.65 Td (development ) Tj ET Q q 0 0 0 rg BT 106.37 463.65 Td (costs, ) Tj ET Q q 0 0 0 rg BT 126.37 463.65 Td (are ) Tj ET Q q 0 0 0 rg BT 138.14 463.65 Td (stated ) Tj ET Q q 0 0 0 rg BT 158.80 463.65 Td (at ) Tj ET Q q 0 0 0 rg BT 166.57 463.65 Td (the ) Tj ET Q q 0 0 0 rg BT 178.34 463.65 Td (lower ) Tj ET Q q 0 0 0 rg BT 198.56 463.65 Td (of ) Tj ET Q q 0 0 0 rg BT 207.22 463.65 Td (cost, ) Tj ET Q q 0 0 0 rg BT 224.11 463.65 Td (less ) Tj ET Q q 0 0 0 rg BT 238.11 463.65 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 280.53 463.65 Td (amortization, ) Tj ET Q q 0 0 0 rg BT 324.96 463.65 Td (or ) Tj ET Q q 0 0 0 rg BT 333.63 463.65 Td (net ) Tj ET Q q 0 0 0 rg BT 345.40 463.65 Td (realizable ) Tj ET Q q 0 0 0 rg BT 378.48 463.65 Td (value.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 448.05 Td (When ) Tj ET Q q 0 0 0 rg BT 70.58 448.05 Td (we ) Tj ET Q q 0 0 0 rg BT 81.88 448.05 Td (recognize ) Tj ET Q q 0 0 0 rg BT 114.95 448.05 Td (revenue ) Tj ET Q q 0 0 0 rg BT 142.24 448.05 Td (on ) Tj ET Q q 0 0 0 rg BT 152.22 448.05 Td (a ) Tj ET Q q 0 0 0 rg BT 157.75 448.05 Td (title, ) Tj ET Q q 0 0 0 rg BT 174.16 448.05 Td (we ) Tj ET Q q 0 0 0 rg BT 185.47 448.05 Td (also ) Tj ET Q q 0 0 0 rg BT 200.33 448.05 Td (recognize ) Tj ET Q q 0 0 0 rg BT 233.40 448.05 Td (a ) Tj ET Q q 0 0 0 rg BT 238.93 448.05 Td (proportion ) Tj ET Q q 0 0 0 rg BT 274.68 448.05 Td (of ) Tj ET Q q 0 0 0 rg BT 283.32 448.05 Td (the ) Tj ET Q q 0 0 0 rg BT 295.07 448.05 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 331.69 448.05 Td (film ) Tj ET Q q 0 0 0 rg BT 347.00 448.05 Td (costs ) Tj ET Q q 0 0 0 rg BT 364.97 448.05 Td (in ) Tj ET Q q 0 0 0 rg BT 373.17 448.05 Td (the ) Tj ET Q q 0 0 0 rg BT 384.92 448.05 Td (respective ) Tj ET Q q 0 0 0 rg BT 419.32 448.05 Td (statements ) Tj ET Q q 0 0 0 rg BT 455.07 448.05 Td (of ) Tj ET Q q 0 0 0 rg BT 463.71 448.05 Td (operations ) Tj ET Q q 0 0 0 rg BT 499.01 448.05 Td (using ) Tj ET Q q 0 0 0 rg BT 518.32 448.05 Td (the ) Tj ET Q q 0 0 0 rg BT 530.07 448.05 Td (individual ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 438.45 Td (film ) Tj ET Q q 0 0 0 rg BT 64.39 438.45 Td (forecast ) Tj ET Q q 0 0 0 rg BT 91.26 438.45 Td (model. ) Tj ET Q q 0 0 0 rg BT 114.70 438.45 Td (The ) Tj ET Q q 0 0 0 rg BT 128.69 438.45 Td (proportion ) Tj ET Q q 0 0 0 rg BT 164.02 438.45 Td (of ) Tj ET Q q 0 0 0 rg BT 172.24 438.45 Td (costs ) Tj ET Q q 0 0 0 rg BT 189.79 438.45 Td (recognized ) Tj ET Q q 0 0 0 rg BT 226.43 438.45 Td (is ) Tj ET Q q 0 0 0 rg BT 233.33 438.45 Td (equal ) Tj ET Q q 0 0 0 rg BT 252.20 438.45 Td (to ) Tj ET Q q 0 0 0 rg BT 259.98 438.45 Td (the ) Tj ET Q q 0 0 0 rg BT 271.31 438.45 Td (proportion ) Tj ET Q q 0 0 0 rg BT 306.64 438.45 Td (of ) Tj ET Q q 0 0 0 rg BT 314.86 438.45 Td (the ) Tj ET Q q 0 0 0 rg BT 326.18 438.45 Td (revenue ) Tj ET Q q 0 0 0 rg BT 353.06 438.45 Td (recognized ) Tj ET Q q 0 0 0 rg BT 389.70 438.45 Td (compared ) Tj ET Q q 0 0 0 rg BT 422.79 438.45 Td (to ) Tj ET Q q 0 0 0 rg BT 430.57 438.45 Td (the ) Tj ET Q q 0 0 0 rg BT 441.90 438.45 Td (total ) Tj ET Q q 0 0 0 rg BT 457.67 438.45 Td (revenue ) Tj ET Q q 0 0 0 rg BT 484.54 438.45 Td (expected ) Tj ET Q q 0 0 0 rg BT 514.52 438.45 Td (to ) Tj ET Q q 0 0 0 rg BT 522.30 438.45 Td (be ) Tj ET Q q 0 0 0 rg BT 531.41 438.45 Td (generated ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 428.85 Td (throughout ) Tj ET Q q 0 0 0 rg BT 86.61 428.85 Td (the ) Tj ET Q q 0 0 0 rg BT 98.38 428.85 Td (title's ) Tj ET Q q 0 0 0 rg BT 117.38 428.85 Td (life ) Tj ET Q q 0 0 0 rg BT 130.04 428.85 Td (cycle ) Tj ET Q q 0 0 0 rg BT 148.91 428.85 Td (\(the ) Tj ET Q q 0 0 0 rg BT 163.35 428.85 Td ("ultimate ) Tj ET Q q 0 0 0 rg BT 194.83 428.85 Td (revenues"\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 413.25 Td (The ) Tj ET Q q 0 0 0 rg BT 64.35 413.25 Td (process ) Tj ET Q q 0 0 0 rg BT 90.75 413.25 Td (of ) Tj ET Q q 0 0 0 rg BT 99.83 413.25 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 135.56 413.25 Td (a ) Tj ET Q q 0 0 0 rg BT 141.52 413.25 Td (title's ) Tj ET Q q 0 0 0 rg BT 160.93 413.25 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 189.55 413.25 Td (revenues ) Tj ET Q q 0 0 0 rg BT 220.39 413.25 Td (requires ) Tj ET Q q 0 0 0 rg BT 248.57 413.25 Td (management ) Tj ET Q q 0 0 0 rg BT 291.85 413.25 Td (judgment ) Tj ET Q q 0 0 0 rg BT 324.48 413.25 Td (and ) Tj ET Q q 0 0 0 rg BT 338.45 413.25 Td (is ) Tj ET Q q 0 0 0 rg BT 346.19 413.25 Td (inherently ) Tj ET Q q 0 0 0 rg BT 381.04 413.25 Td (subjective. ) Tj ET Q q 0 0 0 rg BT 417.71 413.25 Td (The ) Tj ET Q q 0 0 0 rg BT 432.56 413.25 Td (calculation ) Tj ET Q q 0 0 0 rg BT 470.06 413.25 Td (of ) Tj ET Q q 0 0 0 rg BT 479.14 413.25 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 507.76 413.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 535.49 413.25 Td (can ) Tj ET Q q 0 0 0 rg BT 549.00 413.25 Td (be ) Tj ET Q q 0 0 0 rg BT 558.96 413.25 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 403.65 Td (complex ) Tj ET Q q 0 0 0 rg BT 79.52 403.65 Td (one, ) Tj ET Q q 0 0 0 rg BT 95.54 403.65 Td (however) Tj ET Q q 0 0 0 rg BT 122.76 403.65 Td (, ) Tj ET Q q 0 0 0 rg BT 127.23 403.65 Td (the ) Tj ET Q q 0 0 0 rg BT 139.48 403.65 Td (level ) Tj ET Q q 0 0 0 rg BT 157.49 403.65 Td (of ) Tj ET Q q 0 0 0 rg BT 166.63 403.65 Td (complexity ) Tj ET Q q 0 0 0 rg BT 205.09 403.65 Td (and ) Tj ET Q q 0 0 0 rg BT 219.11 403.65 Td (subjectivity ) Tj ET Q q 0 0 0 rg BT 258.91 403.65 Td (is ) Tj ET Q q 0 0 0 rg BT 266.72 403.65 Td (correlated ) Tj ET Q q 0 0 0 rg BT 301.17 403.65 Td (to ) Tj ET Q q 0 0 0 rg BT 309.86 403.65 Td (the ) Tj ET Q q 0 0 0 rg BT 322.10 403.65 Td (number ) Tj ET Q q 0 0 0 rg BT 349.01 403.65 Td (of ) Tj ET Q q 0 0 0 rg BT 358.15 403.65 Td (revenue ) Tj ET Q q 0 0 0 rg BT 385.93 403.65 Td (streams ) Tj ET Q q 0 0 0 rg BT 412.84 403.65 Td (that ) Tj ET Q q 0 0 0 rg BT 427.31 403.65 Td (management ) Tj ET Q q 0 0 0 rg BT 470.65 403.65 Td (believes ) Tj ET Q q 0 0 0 rg BT 499.33 403.65 Td (will ) Tj ET Q q 0 0 0 rg BT 514.25 403.65 Td (be ) Tj ET Q q 0 0 0 rg BT 524.27 403.65 Td (earned. ) Tj ET Q q 0 0 0 rg BT 550.06 403.65 Td (Our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 394.05 Td (process ) Tj ET Q q 0 0 0 rg BT 75.90 394.05 Td (for ) Tj ET Q q 0 0 0 rg BT 87.63 394.05 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 123.35 394.05 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 151.97 394.05 Td (revenues ) Tj ET Q q 0 0 0 rg BT 182.81 394.05 Td (is ) Tj ET Q q 0 0 0 rg BT 190.55 394.05 Td (tailored ) Tj ET Q q 0 0 0 rg BT 217.38 394.05 Td (to ) Tj ET Q q 0 0 0 rg BT 226.01 394.05 Td (the ) Tj ET Q q 0 0 0 rg BT 238.19 394.05 Td (potential ) Tj ET Q q 0 0 0 rg BT 268.59 394.05 Td (we ) Tj ET Q q 0 0 0 rg BT 280.32 394.05 Td (believe ) Tj ET Q q 0 0 0 rg BT 305.82 394.05 Td (a ) Tj ET Q q 0 0 0 rg BT 311.78 394.05 Td (title ) Tj ET Q q 0 0 0 rg BT 326.62 394.05 Td (has ) Tj ET Q q 0 0 0 rg BT 339.69 394.05 Td (for ) Tj ET Q q 0 0 0 rg BT 351.42 394.05 Td (generating ) Tj ET Q q 0 0 0 rg BT 387.59 394.05 Td (multiple ) Tj ET Q q 0 0 0 rg BT 416.66 394.05 Td (types ) Tj ET Q q 0 0 0 rg BT 435.95 394.05 Td (of ) Tj ET Q q 0 0 0 rg BT 445.02 394.05 Td (revenues. ) Tj ET Q q 0 0 0 rg BT 477.32 394.05 Td (As ) Tj ET Q q 0 0 0 rg BT 488.61 394.05 Td (already ) Tj ET Q q 0 0 0 rg BT 514.56 394.05 Td (mentioned, ) Tj ET Q q 0 0 0 rg BT 552.73 394.05 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 384.45 Td (majority ) Tj ET Q q 0 0 0 rg BT 78.64 384.45 Td (of ) Tj ET Q q 0 0 0 rg BT 87.34 384.45 Td (our ) Tj ET Q q 0 0 0 rg BT 100.03 384.45 Td (production ) Tj ET Q q 0 0 0 rg BT 136.73 384.45 Td (is ) Tj ET Q q 0 0 0 rg BT 144.10 384.45 Td (intended ) Tj ET Q q 0 0 0 rg BT 173.68 384.45 Td (primarily ) Tj ET Q q 0 0 0 rg BT 205.48 384.45 Td (for ) Tj ET Q q 0 0 0 rg BT 216.84 384.45 Td (exploitation ) Tj ET Q q 0 0 0 rg BT 257.09 384.45 Td (by ) Tj ET Q q 0 0 0 rg BT 267.12 384.45 Td (our ) Tj ET Q q 0 0 0 rg BT 279.82 384.45 Td (own ) Tj ET Q q 0 0 0 rg BT 295.63 384.45 Td (broadcasters ) Tj ET Q q 0 0 0 rg BT 337.64 384.45 Td (and ) Tj ET Q q 0 0 0 rg BT 351.23 384.45 Td (we ) Tj ET Q q 0 0 0 rg BT 362.59 384.45 Td (have ) Tj ET Q q 0 0 0 rg BT 379.72 384.45 Td (few ) Tj ET Q q 0 0 0 rg BT 393.75 384.45 Td (supportable ) Tj ET Q q 0 0 0 rg BT 433.11 384.45 Td (expectations ) Tj ET Q q 0 0 0 rg BT 475.12 384.45 Td (of ) Tj ET Q q 0 0 0 rg BT 483.82 384.45 Td (generating ) Tj ET Q q 0 0 0 rg BT 519.62 384.45 Td (revenue ) Tj ET Q q 0 0 0 rg BT 546.96 384.45 Td (from ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 374.85 Td (other ) Tj ET Q q 0 0 0 rg BT 68.11 374.85 Td (sources. ) Tj ET Q q 0 0 0 rg BT 96.27 374.85 Td (In ) Tj ET Q q 0 0 0 rg BT 105.10 374.85 Td (such ) Tj ET Q q 0 0 0 rg BT 121.94 374.85 Td (cases, ) Tj ET Q q 0 0 0 rg BT 142.99 374.85 Td (we ) Tj ET Q q 0 0 0 rg BT 154.48 374.85 Td (consider ) Tj ET Q q 0 0 0 rg BT 183.76 374.85 Td (mainly ) Tj ET Q q 0 0 0 rg BT 208.14 374.85 Td (the ) Tj ET Q q 0 0 0 rg BT 220.09 374.85 Td (free ) Tj ET Q q 0 0 0 rg BT 234.69 374.85 Td (television ) Tj ET Q q 0 0 0 rg BT 267.96 374.85 Td (window ) Tj ET Q q 0 0 0 rg BT 295.91 374.85 Td (in ) Tj ET Q q 0 0 0 rg BT 304.30 374.85 Td (our ) Tj ET Q q 0 0 0 rg BT 317.14 374.85 Td (calculation ) Tj ET Q q 0 0 0 rg BT 354.40 374.85 Td (of ) Tj ET Q q 0 0 0 rg BT 363.23 374.85 Td (the ) Tj ET Q q 0 0 0 rg BT 375.18 374.85 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 403.56 374.85 Td (revenue. ) Tj ET Q q 0 0 0 rg BT 433.05 374.85 Td (For ) Tj ET Q q 0 0 0 rg BT 446.33 374.85 Td (produced ) Tj ET Q q 0 0 0 rg BT 478.27 374.85 Td (and ) Tj ET Q q 0 0 0 rg BT 491.99 374.85 Td (acquired ) Tj ET Q q 0 0 0 rg BT 521.70 374.85 Td (feature ) Tj ET Q q 0 0 0 rg BT 546.07 374.85 Td (films ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 365.25 Td (or ) Tj ET Q q 0 0 0 rg BT 58.50 365.25 Td (other ) Tj ET Q q 0 0 0 rg BT 77.27 365.25 Td (projects ) Tj ET Q q 0 0 0 rg BT 104.93 365.25 Td (where ) Tj ET Q q 0 0 0 rg BT 126.81 365.25 Td (we ) Tj ET Q q 0 0 0 rg BT 138.48 365.25 Td (do ) Tj ET Q q 0 0 0 rg BT 148.81 365.25 Td (have ) Tj ET Q q 0 0 0 rg BT 166.25 365.25 Td (supportable ) Tj ET Q q 0 0 0 rg BT 205.91 365.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 238.02 365.25 Td (of ) Tj ET Q q 0 0 0 rg BT 247.02 365.25 Td (generating ) Tj ET Q q 0 0 0 rg BT 283.11 365.25 Td (multiple ) Tj ET Q q 0 0 0 rg BT 312.11 365.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 339.77 365.25 Td (streams, ) Tj ET Q q 0 0 0 rg BT 368.54 365.25 Td (we ) Tj ET Q q 0 0 0 rg BT 380.20 365.25 Td (base ) Tj ET Q q 0 0 0 rg BT 396.75 365.25 Td (our ) Tj ET Q q 0 0 0 rg BT 409.75 365.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 441.86 365.25 Td (of ) Tj ET Q q 0 0 0 rg BT 450.86 365.25 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 479.41 365.25 Td (revenues ) Tj ET Q q 0 0 0 rg BT 510.18 365.25 Td (for ) Tj ET Q q 0 0 0 rg BT 521.84 365.25 Td (each ) Tj ET Q q 0 0 0 rg BT 538.83 365.25 Td (film ) Tj ET Q q 0 0 0 rg BT 554.50 365.25 Td (on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 355.65 Td (factors ) Tj ET Q q 0 0 0 rg BT 73.20 355.65 Td (such ) Tj ET Q q 0 0 0 rg BT 89.80 355.65 Td (as ) Tj ET Q q 0 0 0 rg BT 98.40 355.65 Td (the ) Tj ET Q q 0 0 0 rg BT 110.11 355.65 Td (historical ) Tj ET Q q 0 0 0 rg BT 141.81 355.65 Td (performance ) Tj ET Q q 0 0 0 rg BT 184.17 355.65 Td (of ) Tj ET Q q 0 0 0 rg BT 192.77 355.65 Td (similar ) Tj ET Q q 0 0 0 rg BT 216.92 355.65 Td (films, ) Tj ET Q q 0 0 0 rg BT 237.30 355.65 Td (the ) Tj ET Q q 0 0 0 rg BT 249.01 355.65 Td (star ) Tj ET Q q 0 0 0 rg BT 262.50 355.65 Td (power ) Tj ET Q q 0 0 0 rg BT 284.43 355.65 Td (of ) Tj ET Q q 0 0 0 rg BT 293.03 355.65 Td (the ) Tj ET Q q 0 0 0 rg BT 304.73 355.65 Td (actors ) Tj ET Q q 0 0 0 rg BT 325.77 355.65 Td (and ) Tj ET Q q 0 0 0 rg BT 339.26 355.65 Td (actresses, ) Tj ET Q q 0 0 0 rg BT 371.62 355.65 Td (the ) Tj ET Q q 0 0 0 rg BT 383.33 355.65 Td (rating ) Tj ET Q q 0 0 0 rg BT 403.93 355.65 Td (and ) Tj ET Q q 0 0 0 rg BT 417.41 355.65 Td (genre ) Tj ET Q q 0 0 0 rg BT 437.12 355.65 Td (of ) Tj ET Q q 0 0 0 rg BT 445.71 355.65 Td (the ) Tj ET Q q 0 0 0 rg BT 457.42 355.65 Td (film, ) Tj ET Q q 0 0 0 rg BT 474.69 355.65 Td (pre-release ) Tj ET Q q 0 0 0 rg BT 511.71 355.65 Td (market ) Tj ET Q q 0 0 0 rg BT 535.86 355.65 Td (research ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 346.05 Td (\(including ) Tj ET Q q 0 0 0 rg BT 83.99 346.05 Td (test ) Tj ET Q q 0 0 0 rg BT 96.71 346.05 Td (market ) Tj ET Q q 0 0 0 rg BT 120.53 346.05 Td (screenings\) ) Tj ET Q q 0 0 0 rg BT 158.57 346.05 Td (and ) Tj ET Q q 0 0 0 rg BT 171.73 346.05 Td (the ) Tj ET Q q 0 0 0 rg BT 183.11 346.05 Td (expected ) Tj ET Q q 0 0 0 rg BT 213.14 346.05 Td (number ) Tj ET Q q 0 0 0 rg BT 239.19 346.05 Td (of ) Tj ET Q q 0 0 0 rg BT 247.46 346.05 Td (theaters ) Tj ET Q q 0 0 0 rg BT 273.94 346.05 Td (in ) Tj ET Q q 0 0 0 rg BT 281.77 346.05 Td (which ) Tj ET Q q 0 0 0 rg BT 302.93 346.05 Td (the ) Tj ET Q q 0 0 0 rg BT 314.32 346.05 Td (film ) Tj ET Q q 0 0 0 rg BT 329.26 346.05 Td (will ) Tj ET Q q 0 0 0 rg BT 343.31 346.05 Td (be ) Tj ET Q q 0 0 0 rg BT 352.47 346.05 Td (released. ) Tj ET Q q 0 0 0 rg BT 382.16 346.05 Td (W) Tj ET Q q 0 0 0 rg BT 389.07 346.05 Td (e ) Tj ET Q q 0 0 0 rg BT 394.23 346.05 Td (update ) Tj ET Q q 0 0 0 rg BT 417.17 346.05 Td (such ) Tj ET Q q 0 0 0 rg BT 433.44 346.05 Td (estimates ) Tj ET Q q 0 0 0 rg BT 464.82 346.05 Td (based ) Tj ET Q q 0 0 0 rg BT 484.64 346.05 Td (on ) Tj ET Q q 0 0 0 rg BT 494.25 346.05 Td (information ) Tj ET Q q 0 0 0 rg BT 533.63 346.05 Td (available ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 336.45 Td (on ) Tj ET Q q 0 0 0 rg BT 59.63 336.45 Td (the ) Tj ET Q q 0 0 0 rg BT 71.54 336.45 Td (progress ) Tj ET Q q 0 0 0 rg BT 100.77 336.45 Td (of ) Tj ET Q q 0 0 0 rg BT 109.57 336.45 Td (the ) Tj ET Q q 0 0 0 rg BT 121.48 336.45 Td (film's ) Tj ET Q q 0 0 0 rg BT 141.49 336.45 Td (production ) Tj ET Q q 0 0 0 rg BT 178.29 336.45 Td (and ) Tj ET Q q 0 0 0 rg BT 191.97 336.45 Td (upon ) Tj ET Q q 0 0 0 rg BT 210.10 336.45 Td (release, ) Tj ET Q q 0 0 0 rg BT 236.44 336.45 Td (the ) Tj ET Q q 0 0 0 rg BT 248.34 336.45 Td (actual ) Tj ET Q q 0 0 0 rg BT 269.57 336.45 Td (results ) Tj ET Q q 0 0 0 rg BT 292.59 336.45 Td (of ) Tj ET Q q 0 0 0 rg BT 301.38 336.45 Td (each ) Tj ET Q q 0 0 0 rg BT 318.17 336.45 Td (film. ) Tj ET Q q 0 0 0 rg BT 335.63 336.45 Td (Changes ) Tj ET Q q 0 0 0 rg BT 365.32 336.45 Td (in ) Tj ET Q q 0 0 0 rg BT 373.67 336.45 Td (estimates ) Tj ET Q q 0 0 0 rg BT 405.57 336.45 Td (of ) Tj ET Q q 0 0 0 rg BT 414.37 336.45 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 442.71 336.45 Td (revenues ) Tj ET Q q 0 0 0 rg BT 473.28 336.45 Td (from ) Tj ET Q q 0 0 0 rg BT 490.96 336.45 Td (period ) Tj ET Q q 0 0 0 rg BT 513.53 336.45 Td (to ) Tj ET Q q 0 0 0 rg BT 521.88 336.45 Td (period ) Tj ET Q q 0 0 0 rg BT 544.45 336.45 Td (af) Tj ET Q q 0 0 0 rg BT 550.52 336.45 Td (fect ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 326.85 Td (the ) Tj ET Q q 0 0 0 rg BT 61.27 326.85 Td (amount ) Tj ET Q q 0 0 0 rg BT 87.27 326.85 Td (of ) Tj ET Q q 0 0 0 rg BT 95.93 326.85 Td (film ) Tj ET Q q 0 0 0 rg BT 111.27 326.85 Td (costs ) Tj ET Q q 0 0 0 rg BT 129.27 326.85 Td (amortized ) Tj ET Q q 0 0 0 rg BT 163.25 326.85 Td (in ) Tj ET Q q 0 0 0 rg BT 171.47 326.85 Td (a ) Tj ET Q q 0 0 0 rg BT 177.02 326.85 Td (given ) Tj ET Q q 0 0 0 rg BT 196.80 326.85 Td (period ) Tj ET Q q 0 0 0 rg BT 219.23 326.85 Td (and, ) Tj ET Q q 0 0 0 rg BT 234.79 326.85 Td (therefore, ) Tj ET Q q 0 0 0 rg BT 267.65 326.85 Td (could ) Tj ET Q q 0 0 0 rg BT 287.43 326.85 Td (have ) Tj ET Q q 0 0 0 rg BT 304.53 326.85 Td (an ) Tj ET Q q 0 0 0 rg BT 314.08 326.85 Td (impact ) Tj ET Q q 0 0 0 rg BT 337.85 326.85 Td (on ) Tj ET Q q 0 0 0 rg BT 347.85 326.85 Td (our ) Tj ET Q q 0 0 0 rg BT 360.51 326.85 Td (results ) Tj ET Q q 0 0 0 rg BT 383.40 326.85 Td (for ) Tj ET Q q 0 0 0 rg BT 394.73 326.85 Td (that ) Tj ET Q q 0 0 0 rg BT 408.72 326.85 Td (period.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 311.25 Td (When ) Tj ET Q q 0 0 0 rg BT 70.73 311.25 Td (the ) Tj ET Q q 0 0 0 rg BT 82.64 311.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 115.42 311.25 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 143.77 311.25 Td (revenues, ) Tj ET Q q 0 0 0 rg BT 176.33 311.25 Td (less ) Tj ET Q q 0 0 0 rg BT 190.46 311.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 224.58 311.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 242.71 311.25 Td (to ) Tj ET Q q 0 0 0 rg BT 251.07 311.25 Td (be ) Tj ET Q q 0 0 0 rg BT 260.75 311.25 Td (incurred ) Tj ET Q q 0 0 0 rg BT 289.53 311.25 Td (\(including ) Tj ET Q q 0 0 0 rg BT 324.55 311.25 Td (exploitation ) Tj ET Q q 0 0 0 rg BT 364.89 311.25 Td (costs\), ) Tj ET Q q 0 0 0 rg BT 387.69 311.25 Td (are ) Tj ET Q q 0 0 0 rg BT 399.58 311.25 Td (less ) Tj ET Q q 0 0 0 rg BT 413.71 311.25 Td (than ) Tj ET Q q 0 0 0 rg BT 429.62 311.25 Td (the ) Tj ET Q q 0 0 0 rg BT 441.52 311.25 Td (carrying ) Tj ET Q q 0 0 0 rg BT 470.31 311.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 496.43 311.25 Td (of ) Tj ET Q q 0 0 0 rg BT 505.23 311.25 Td (the ) Tj ET Q q 0 0 0 rg BT 517.13 311.25 Td (film ) Tj ET Q q 0 0 0 rg BT 532.60 311.25 Td (costs, ) Tj ET Q q 0 0 0 rg BT 552.73 311.25 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 301.65 Td (value ) Tj ET Q q 0 0 0 rg BT 68.34 301.65 Td (of ) Tj ET Q q 0 0 0 rg BT 76.51 301.65 Td (a ) Tj ET Q q 0 0 0 rg BT 81.58 301.65 Td (film ) Tj ET Q q 0 0 0 rg BT 96.42 301.65 Td (is ) Tj ET Q q 0 0 0 rg BT 103.27 301.65 Td (deemed ) Tj ET Q q 0 0 0 rg BT 129.66 301.65 Td (to ) Tj ET Q q 0 0 0 rg BT 137.39 301.65 Td (be ) Tj ET Q q 0 0 0 rg BT 146.46 301.65 Td (not ) Tj ET Q q 0 0 0 rg BT 158.19 301.65 Td (recoverable ) Tj ET Q q 0 0 0 rg BT 197.01 301.65 Td (and ) Tj ET Q q 0 0 0 rg BT 210.07 301.65 Td (thus, ) Tj ET Q q 0 0 0 rg BT 226.92 301.65 Td (an ) Tj ET Q q 0 0 0 rg BT 235.99 301.65 Td (immediate ) Tj ET Q q 0 0 0 rg BT 271.26 301.65 Td (write-of) Tj ET Q q 0 0 0 rg BT 296.88 301.65 Td (f ) Tj ET Q q 0 0 0 rg BT 301.06 301.65 Td (of ) Tj ET Q q 0 0 0 rg BT 309.24 301.65 Td (unrecoverable ) Tj ET Q q 0 0 0 rg BT 356.06 301.65 Td (film ) Tj ET Q q 0 0 0 rg BT 370.90 301.65 Td (costs ) Tj ET Q q 0 0 0 rg BT 388.41 301.65 Td (is ) Tj ET Q q 0 0 0 rg BT 395.26 301.65 Td (recorded ) Tj ET Q q 0 0 0 rg BT 424.75 301.65 Td (in ) Tj ET Q q 0 0 0 rg BT 432.49 301.65 Td (the ) Tj ET Q q 0 0 0 rg BT 443.78 301.65 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 485.72 301.65 Td (statements ) Tj ET Q q 0 0 0 rg BT 521.00 301.65 Td (of ) Tj ET Q q 0 0 0 rg BT 529.18 301.65 Td (operations ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 292.05 Td (and ) Tj ET Q q 0 0 0 rg BT 63.05 292.05 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 113.48 292.05 Td (income. ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 276.45 Td (Recognition ) Tj ET Q q 0 0 0 rg BT 90.16 276.45 Td (of ) Tj ET Q q 0 0 0 rg BT 98.38 276.45 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 128.38 276.45 Td (and ) Tj ET Q q 0 0 0 rg BT 142.38 276.45 Td (intangible ) Tj ET Q q 0 0 0 rg BT 176.82 276.45 Td (assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 260.85 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 260.85 Td (e ) Tj ET Q q 0 0 0 rg BT 61.90 260.85 Td (allocate ) Tj ET Q q 0 0 0 rg BT 88.70 260.85 Td (the ) Tj ET Q q 0 0 0 rg BT 100.41 260.85 Td (purchase ) Tj ET Q q 0 0 0 rg BT 130.77 260.85 Td (price ) Tj ET Q q 0 0 0 rg BT 148.70 260.85 Td (of ) Tj ET Q q 0 0 0 rg BT 157.29 260.85 Td (our ) Tj ET Q q 0 0 0 rg BT 169.89 260.85 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 210.05 260.85 Td (to ) Tj ET Q q 0 0 0 rg BT 218.20 260.85 Td (the ) Tj ET Q q 0 0 0 rg BT 229.91 260.85 Td (tangible ) Tj ET Q q 0 0 0 rg BT 257.62 260.85 Td (assets, ) Tj ET Q q 0 0 0 rg BT 280.21 260.85 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 311.92 260.85 Td (and ) Tj ET Q q 0 0 0 rg BT 325.41 260.85 Td (identifiable ) Tj ET Q q 0 0 0 rg BT 363.77 260.85 Td (intangible ) Tj ET Q q 0 0 0 rg BT 397.70 260.85 Td (assets ) Tj ET Q q 0 0 0 rg BT 418.30 260.85 Td (acquired ) Tj ET Q q 0 0 0 rg BT 447.77 260.85 Td (based ) Tj ET Q q 0 0 0 rg BT 467.92 260.85 Td (on ) Tj ET Q q 0 0 0 rg BT 477.86 260.85 Td (their ) Tj ET Q q 0 0 0 rg BT 494.45 260.85 Td (estimated ) Tj ET Q q 0 0 0 rg BT 527.04 260.85 Td (fair ) Tj ET Q q 0 0 0 rg BT 540.08 260.85 Td (values, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 251.25 Td (with ) Tj ET Q q 0 0 0 rg BT 65.72 251.25 Td (the ) Tj ET Q q 0 0 0 rg BT 77.50 251.25 Td (excess ) Tj ET Q q 0 0 0 rg BT 100.38 251.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 130.80 251.25 Td (price ) Tj ET Q q 0 0 0 rg BT 148.79 251.25 Td (over ) Tj ET Q q 0 0 0 rg BT 165.01 251.25 Td (those ) Tj ET Q q 0 0 0 rg BT 183.89 251.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 197.00 251.25 Td (values ) Tj ET Q q 0 0 0 rg BT 219.43 251.25 Td (being ) Tj ET Q q 0 0 0 rg BT 239.21 251.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 269.19 251.25 Td (as ) Tj ET Q q 0 0 0 rg BT 277.85 251.25 Td (goodwill.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 235.65 Td (The ) Tj ET Q q 0 0 0 rg BT 64.08 235.65 Td (fair ) Tj ET Q q 0 0 0 rg BT 77.33 235.65 Td (value ) Tj ET Q q 0 0 0 rg BT 96.80 235.65 Td (assigned ) Tj ET Q q 0 0 0 rg BT 126.50 235.65 Td (to ) Tj ET Q q 0 0 0 rg BT 134.87 235.65 Td (identifiable ) Tj ET Q q 0 0 0 rg BT 173.45 235.65 Td (intangible ) Tj ET Q q 0 0 0 rg BT 207.58 235.65 Td (assets ) Tj ET Q q 0 0 0 rg BT 228.39 235.65 Td (acquired ) Tj ET Q q 0 0 0 rg BT 258.08 235.65 Td (is ) Tj ET Q q 0 0 0 rg BT 265.56 235.65 Td (supported ) Tj ET Q q 0 0 0 rg BT 299.26 235.65 Td (by ) Tj ET Q q 0 0 0 rg BT 309.41 235.65 Td (valuations ) Tj ET Q q 0 0 0 rg BT 344.44 235.65 Td (that ) Tj ET Q q 0 0 0 rg BT 358.58 235.65 Td (involve ) Tj ET Q q 0 0 0 rg BT 384.72 235.65 Td (the ) Tj ET Q q 0 0 0 rg BT 396.64 235.65 Td (use ) Tj ET Q q 0 0 0 rg BT 409.45 235.65 Td (of ) Tj ET Q q 0 0 0 rg BT 418.26 235.65 Td (a ) Tj ET Q q 0 0 0 rg BT 423.96 235.65 Td (lar) Tj ET Q q 0 0 0 rg BT 432.25 235.65 Td (ge ) Tj ET Q q 0 0 0 rg BT 441.95 235.65 Td (number ) Tj ET Q q 0 0 0 rg BT 468.53 235.65 Td (of ) Tj ET Q q 0 0 0 rg BT 477.34 235.65 Td (estimates ) Tj ET Q q 0 0 0 rg BT 509.26 235.65 Td (and ) Tj ET Q q 0 0 0 rg BT 522.96 235.65 Td (assumptions ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 226.05 Td (provided ) Tj ET Q q 0 0 0 rg BT 80.32 226.05 Td (by ) Tj ET Q q 0 0 0 rg BT 90.70 226.05 Td (management. ) Tj ET Q q 0 0 0 rg BT 135.95 226.05 Td (If ) Tj ET Q q 0 0 0 rg BT 143.66 226.05 Td (we ) Tj ET Q q 0 0 0 rg BT 155.36 226.05 Td (make ) Tj ET Q q 0 0 0 rg BT 175.07 226.05 Td (dif) Tj ET Q q 0 0 0 rg BT 183.81 226.05 Td (ferent ) Tj ET Q q 0 0 0 rg BT 204.84 226.05 Td (estimates ) Tj ET Q q 0 0 0 rg BT 236.99 226.05 Td (and ) Tj ET Q q 0 0 0 rg BT 250.92 226.05 Td (assumptions, ) Tj ET Q q 0 0 0 rg BT 294.86 226.05 Td (the ) Tj ET Q q 0 0 0 rg BT 307.01 226.05 Td (valuations ) Tj ET Q q 0 0 0 rg BT 342.28 226.05 Td (of ) Tj ET Q q 0 0 0 rg BT 351.32 226.05 Td (identifiable ) Tj ET Q q 0 0 0 rg BT 390.13 226.05 Td (intangible ) Tj ET Q q 0 0 0 rg BT 424.50 226.05 Td (assets ) Tj ET Q q 0 0 0 rg BT 445.55 226.05 Td (change, ) Tj ET Q q 0 0 0 rg BT 472.58 226.05 Td (and ) Tj ET Q q 0 0 0 rg BT 486.51 226.05 Td (the ) Tj ET Q q 0 0 0 rg BT 498.66 226.05 Td (amount ) Tj ET Q q 0 0 0 rg BT 525.04 226.05 Td (of ) Tj ET Q q 0 0 0 rg BT 534.08 226.05 Td (purchase ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 216.45 Td (price ) Tj ET Q q 0 0 0 rg BT 67.49 216.45 Td (attributable ) Tj ET Q q 0 0 0 rg BT 105.92 216.45 Td (to ) Tj ET Q q 0 0 0 rg BT 114.14 216.45 Td (these ) Tj ET Q q 0 0 0 rg BT 132.58 216.45 Td (assets ) Tj ET Q q 0 0 0 rg BT 153.24 216.45 Td (also ) Tj ET Q q 0 0 0 rg BT 168.13 216.45 Td (changes, ) Tj ET Q q 0 0 0 rg BT 197.89 216.45 Td (leading ) Tj ET Q q 0 0 0 rg BT 223.44 216.45 Td (to ) Tj ET Q q 0 0 0 rg BT 231.66 216.45 Td (a ) Tj ET Q q 0 0 0 rg BT 237.21 216.45 Td (corresponding ) Tj ET Q q 0 0 0 rg BT 284.98 216.45 Td (change ) Tj ET Q q 0 0 0 rg BT 309.63 216.45 Td (in ) Tj ET Q q 0 0 0 rg BT 317.86 216.45 Td (the ) Tj ET Q q 0 0 0 rg BT 329.63 216.45 Td (value ) Tj ET Q q 0 0 0 rg BT 348.95 216.45 Td (of ) Tj ET Q q 0 0 0 rg BT 357.62 216.45 Td (goodwill.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 200.85 Td (The ) Tj ET Q q 0 0 0 rg BT 64.21 200.85 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 106.05 200.85 Td (and ) Tj ET Q q 0 0 0 rg BT 119.88 200.85 Td (estimates ) Tj ET Q q 0 0 0 rg BT 151.93 200.85 Td (that ) Tj ET Q q 0 0 0 rg BT 166.20 200.85 Td (we ) Tj ET Q q 0 0 0 rg BT 177.80 200.85 Td (have ) Tj ET Q q 0 0 0 rg BT 195.18 200.85 Td (applied ) Tj ET Q q 0 0 0 rg BT 221.01 200.85 Td (vary ) Tj ET Q q 0 0 0 rg BT 237.50 200.85 Td (according ) Tj ET Q q 0 0 0 rg BT 271.32 200.85 Td (to ) Tj ET Q q 0 0 0 rg BT 279.82 200.85 Td (the ) Tj ET Q q 0 0 0 rg BT 291.87 200.85 Td (date, ) Tj ET Q q 0 0 0 rg BT 309.47 200.85 Td (location ) Tj ET Q q 0 0 0 rg BT 337.52 200.85 Td (and ) Tj ET Q q 0 0 0 rg BT 351.34 200.85 Td (type ) Tj ET Q q 0 0 0 rg BT 367.39 200.85 Td (of ) Tj ET Q q 0 0 0 rg BT 376.34 200.85 Td (assets ) Tj ET Q q 0 0 0 rg BT 397.28 200.85 Td (acquired ) Tj ET Q q 0 0 0 rg BT 427.09 200.85 Td (for ) Tj ET Q q 0 0 0 rg BT 438.70 200.85 Td (each ) Tj ET Q q 0 0 0 rg BT 455.63 200.85 Td (of ) Tj ET Q q 0 0 0 rg BT 464.57 200.85 Td (our ) Tj ET Q q 0 0 0 rg BT 477.51 200.85 Td (acquisitions. ) Tj ET Q q 0 0 0 rg BT 520.01 200.85 Td (For ) Tj ET Q q 0 0 0 rg BT 533.40 200.85 Td (example, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 191.25 Td (some ) Tj ET Q q 0 0 0 rg BT 68.02 191.25 Td (of ) Tj ET Q q 0 0 0 rg BT 76.31 191.25 Td (the ) Tj ET Q q 0 0 0 rg BT 87.72 191.25 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 128.91 191.25 Td (and ) Tj ET Q q 0 0 0 rg BT 142.09 191.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 173.49 191.25 Td (that ) Tj ET Q q 0 0 0 rg BT 187.12 191.25 Td (we ) Tj ET Q q 0 0 0 rg BT 198.07 191.25 Td (have ) Tj ET Q q 0 0 0 rg BT 214.81 191.25 Td (used ) Tj ET Q q 0 0 0 rg BT 231.10 191.25 Td (in ) Tj ET Q q 0 0 0 rg BT 238.96 191.25 Td (determining ) Tj ET Q q 0 0 0 rg BT 279.24 191.25 Td (the ) Tj ET Q q 0 0 0 rg BT 290.65 191.25 Td (value ) Tj ET Q q 0 0 0 rg BT 309.60 191.25 Td (of ) Tj ET Q q 0 0 0 rg BT 317.90 191.25 Td (acquired ) Tj ET Q q 0 0 0 rg BT 347.07 191.25 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 379.35 191.25 Td (licenses ) Tj ET Q q 0 0 0 rg BT 406.30 191.25 Td (are ) Tj ET Q q 0 0 0 rg BT 417.70 191.25 Td (as ) Tj ET Q q 0 0 0 rg BT 426.00 191.25 Td (follows: ) Tj ET Q q 0 0 0 rg BT 453.85 191.25 Td (methodology ) Tj ET Q q 0 0 0 rg BT 497.70 191.25 Td (applied ) Tj ET Q q 0 0 0 rg BT 522.88 191.25 Td (in ) Tj ET Q q 0 0 0 rg BT 530.73 191.25 Td (valuation, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 181.65 Td (discount ) Tj ET Q q 0 0 0 rg BT 78.01 181.65 Td (rate ) Tj ET Q q 0 0 0 rg BT 91.40 181.65 Td (\(being ) Tj ET Q q 0 0 0 rg BT 113.24 181.65 Td (the ) Tj ET Q q 0 0 0 rg BT 124.42 181.65 Td (weighted ) Tj ET Q q 0 0 0 rg BT 155.14 181.65 Td (average ) Tj ET Q q 0 0 0 rg BT 181.41 181.65 Td (cost ) Tj ET Q q 0 0 0 rg BT 195.70 181.65 Td (of ) Tj ET Q q 0 0 0 rg BT 203.77 181.65 Td (capital ) Tj ET Q q 0 0 0 rg BT 226.49 181.65 Td (and ) Tj ET Q q 0 0 0 rg BT 239.45 181.65 Td (applicable ) Tj ET Q q 0 0 0 rg BT 273.72 181.65 Td (risk ) Tj ET Q q 0 0 0 rg BT 287.12 181.65 Td (factor\), ) Tj ET Q q 0 0 0 rg BT 311.84 181.65 Td (useful ) Tj ET Q q 0 0 0 rg BT 332.79 181.65 Td (life ) Tj ET Q q 0 0 0 rg BT 344.86 181.65 Td (of ) Tj ET Q q 0 0 0 rg BT 352.92 181.65 Td (license ) Tj ET Q q 0 0 0 rg BT 376.54 181.65 Td (\(definite ) Tj ET Q q 0 0 0 rg BT 405.04 181.65 Td (or ) Tj ET Q q 0 0 0 rg BT 413.10 181.65 Td (indefinite\) ) Tj ET Q q 0 0 0 rg BT 447.82 181.65 Td (and ) Tj ET Q q 0 0 0 rg BT 460.78 181.65 Td (probability ) Tj ET Q q 0 0 0 rg BT 497.29 181.65 Td (of ) Tj ET Q q 0 0 0 rg BT 505.35 181.65 Td (renewal, ) Tj ET Q q 0 0 0 rg BT 534.07 181.65 Td (audience ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 172.05 Td (share ) Tj ET Q q 0 0 0 rg BT 68.10 172.05 Td (growth ) Tj ET Q q 0 0 0 rg BT 92.49 172.05 Td (and ) Tj ET Q q 0 0 0 rg BT 105.76 172.05 Td (advertising ) Tj ET Q q 0 0 0 rg BT 143.03 172.05 Td (market ) Tj ET Q q 0 0 0 rg BT 166.96 172.05 Td (share, ) Tj ET Q q 0 0 0 rg BT 187.57 172.05 Td (power ) Tj ET Q q 0 0 0 rg BT 209.28 172.05 Td (ratio ) Tj ET Q q 0 0 0 rg BT 225.66 172.05 Td (and ) Tj ET Q q 0 0 0 rg BT 238.94 172.05 Td (growth, ) Tj ET Q q 0 0 0 rg BT 265.32 172.05 Td (revenue ) Tj ET Q q 0 0 0 rg BT 292.36 172.05 Td (growth ) Tj ET Q q 0 0 0 rg BT 316.75 172.05 Td (for ) Tj ET Q q 0 0 0 rg BT 327.80 172.05 Td (the ) Tj ET Q q 0 0 0 rg BT 339.30 172.05 Td (forecast ) Tj ET Q q 0 0 0 rg BT 366.34 172.05 Td (period ) Tj ET Q q 0 0 0 rg BT 388.50 172.05 Td (and ) Tj ET Q q 0 0 0 rg BT 401.77 172.05 Td (then ) Tj ET Q q 0 0 0 rg BT 417.27 172.05 Td (in ) Tj ET Q q 0 0 0 rg BT 425.21 172.05 Td (perpetuity) Tj ET Q q 0 0 0 rg BT 457.13 172.05 Td (, ) Tj ET Q q 0 0 0 rg BT 460.85 172.05 Td (operating ) Tj ET Q q 0 0 0 rg BT 492.78 172.05 Td (mar) Tj ET Q q 0 0 0 rg BT 505.07 172.05 Td (gin ) Tj ET Q q 0 0 0 rg BT 517.02 172.05 Td (growth, ) Tj ET Q q 0 0 0 rg BT 543.41 172.05 Td (future ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 162.45 Td (capital ) Tj ET Q q 0 0 0 rg BT 72.65 162.45 Td (expenditure ) Tj ET Q q 0 0 0 rg BT 112.23 162.45 Td (and ) Tj ET Q q 0 0 0 rg BT 125.61 162.45 Td (working ) Tj ET Q q 0 0 0 rg BT 154.10 162.45 Td (capital ) Tj ET Q q 0 0 0 rg BT 177.25 162.45 Td (requirements, ) Tj ET Q q 0 0 0 rg BT 222.84 162.45 Td (future ) Tj ET Q q 0 0 0 rg BT 243.76 162.45 Td (cost ) Tj ET Q q 0 0 0 rg BT 258.48 162.45 Td (saving ) Tj ET Q q 0 0 0 rg BT 281.19 162.45 Td (as ) Tj ET Q q 0 0 0 rg BT 289.68 162.45 Td (a ) Tj ET Q q 0 0 0 rg BT 295.06 162.45 Td (result ) Tj ET Q q 0 0 0 rg BT 314.66 162.45 Td (of ) Tj ET Q q 0 0 0 rg BT 323.15 162.45 Td (the ) Tj ET Q q 0 0 0 rg BT 334.75 162.45 Td (switch ) Tj ET Q q 0 0 0 rg BT 357.46 162.45 Td (from ) Tj ET Q q 0 0 0 rg BT 374.84 162.45 Td (an ) Tj ET Q q 0 0 0 rg BT 384.21 162.45 Td (analog ) Tj ET Q q 0 0 0 rg BT 407.36 162.45 Td (to ) Tj ET Q q 0 0 0 rg BT 415.41 162.45 Td (a ) Tj ET Q q 0 0 0 rg BT 420.79 162.45 Td (digital ) Tj ET Q q 0 0 0 rg BT 443.06 162.45 Td (environment, ) Tj ET Q q 0 0 0 rg BT 487.32 162.45 Td (inflation ) Tj ET Q q 0 0 0 rg BT 516.25 162.45 Td (and ) Tj ET Q q 0 0 0 rg BT 529.63 162.45 Td (workforce ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 152.85 Td (cost, ) Tj ET Q q 0 0 0 rg BT 66.39 152.85 Td (among ) Tj ET Q q 0 0 0 rg BT 90.16 152.85 Td (others.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 137.25 Td (All ) Tj ET Q q 0 0 0 rg BT 61.72 137.25 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 103.28 137.25 Td (and ) Tj ET Q q 0 0 0 rg BT 116.83 137.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 148.60 137.25 Td (applied ) Tj ET Q q 0 0 0 rg BT 174.15 137.25 Td (are ) Tj ET Q q 0 0 0 rg BT 185.91 137.25 Td (based ) Tj ET Q q 0 0 0 rg BT 206.13 137.25 Td (on ) Tj ET Q q 0 0 0 rg BT 216.13 137.25 Td (best ) Tj ET Q q 0 0 0 rg BT 231.02 137.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 262.79 137.25 Td (at ) Tj ET Q q 0 0 0 rg BT 270.56 137.25 Td (the ) Tj ET Q q 0 0 0 rg BT 282.33 137.25 Td (respective ) Tj ET Q q 0 0 0 rg BT 316.76 137.25 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 353.86 137.25 Td (dates.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 121.65 Td (Impairment ) Tj ET Q q 0 0 0 rg BT 88.83 121.65 Td (of ) Tj ET Q q 0 0 0 rg BT 97.05 121.65 Td (goodwill, ) Tj ET Q q 0 0 0 rg BT 129.05 121.65 Td (indefinite ) Tj ET Q q 0 0 0 rg BT 161.27 121.65 Td (lived- ) Tj ET Q q 0 0 0 rg BT 181.48 121.65 Td (intangible ) Tj ET Q q 0 0 0 rg BT 215.92 121.65 Td (assets ) Tj ET Q q 0 0 0 rg BT 237.04 121.65 Td (and ) Tj ET Q q 0 0 0 rg BT 251.04 121.65 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 285.47 121.65 Td (assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 106.05 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 106.05 Td (e ) Tj ET Q q 0 0 0 rg BT 61.06 106.05 Td (assess ) Tj ET Q q 0 0 0 rg BT 81.72 106.05 Td (the ) Tj ET Q q 0 0 0 rg BT 92.60 106.05 Td (carrying ) Tj ET Q q 0 0 0 rg BT 120.36 106.05 Td (amount ) Tj ET Q q 0 0 0 rg BT 145.46 106.05 Td (of ) Tj ET Q q 0 0 0 rg BT 153.22 106.05 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 182.77 106.05 Td (and ) Tj ET Q q 0 0 0 rg BT 195.43 106.05 Td (other ) Tj ET Q q 0 0 0 rg BT 212.97 106.05 Td (intangible ) Tj ET Q q 0 0 0 rg BT 246.06 106.05 Td (assets ) Tj ET Q q 0 0 0 rg BT 265.83 106.05 Td (with ) Tj ET Q q 0 0 0 rg BT 281.16 106.05 Td (indefinite ) Tj ET Q q 0 0 0 rg BT 312.92 106.05 Td (lives ) Tj ET Q q 0 0 0 rg BT 329.13 106.05 Td (on ) Tj ET Q q 0 0 0 rg BT 338.23 106.05 Td (an ) Tj ET Q q 0 0 0 rg BT 346.89 106.05 Td (annual ) Tj ET Q q 0 0 0 rg BT 369.31 106.05 Td (basis, ) Tj ET Q q 0 0 0 rg BT 388.42 106.05 Td (or ) Tj ET Q q 0 0 0 rg BT 396.19 106.05 Td (more ) Tj ET Q q 0 0 0 rg BT 413.73 106.05 Td (frequently ) Tj ET Q q 0 0 0 rg BT 447.71 106.05 Td (if ) Tj ET Q q 0 0 0 rg BT 453.70 106.05 Td (events ) Tj ET Q q 0 0 0 rg BT 475.24 106.05 Td (or ) Tj ET Q q 0 0 0 rg BT 483.00 106.05 Td (changes ) Tj ET Q q 0 0 0 rg BT 509.87 106.05 Td (in ) Tj ET Q q 0 0 0 rg BT 517.20 106.05 Td (circumstances ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 96.45 Td (indicate ) Tj ET Q q 0 0 0 rg BT 76.48 96.45 Td (that ) Tj ET Q q 0 0 0 rg BT 90.13 96.45 Td (such ) Tj ET Q q 0 0 0 rg BT 106.46 96.45 Td (carrying ) Tj ET Q q 0 0 0 rg BT 134.77 96.45 Td (amount ) Tj ET Q q 0 0 0 rg BT 160.42 96.45 Td (may ) Tj ET Q q 0 0 0 rg BT 175.86 96.45 Td (not ) Tj ET Q q 0 0 0 rg BT 187.74 96.45 Td (be ) Tj ET Q q 0 0 0 rg BT 196.95 96.45 Td (recoverable. ) Tj ET Q q 0 0 0 rg BT 237.91 96.45 Td (Other ) Tj ET Q q 0 0 0 rg BT 257.79 96.45 Td (than ) Tj ET Q q 0 0 0 rg BT 273.22 96.45 Td (our ) Tj ET Q q 0 0 0 rg BT 285.54 96.45 Td (annual ) Tj ET Q q 0 0 0 rg BT 308.53 96.45 Td (review) Tj ET Q q 0 0 0 rg BT 329.77 96.45 Td (, ) Tj ET Q q 0 0 0 rg BT 333.43 96.45 Td (factors ) Tj ET Q q 0 0 0 rg BT 356.86 96.45 Td (we ) Tj ET Q q 0 0 0 rg BT 367.84 96.45 Td (consider ) Tj ET Q q 0 0 0 rg BT 396.60 96.45 Td (important ) Tj ET Q q 0 0 0 rg BT 429.37 96.45 Td (which ) Tj ET Q q 0 0 0 rg BT 450.58 96.45 Td (could ) Tj ET Q q 0 0 0 rg BT 470.01 96.45 Td (trigger ) Tj ET Q q 0 0 0 rg BT 493.00 96.45 Td (an ) Tj ET Q q 0 0 0 rg BT 502.21 96.45 Td (impairment ) Tj ET Q q 0 0 0 rg BT 540.74 96.45 Td (review ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 86.85 Td (include: ) Tj ET Q q 0 0 0 rg BT 77.34 86.85 Td (under) Tj ET Q q 0 0 0 rg BT 95.40 86.85 Td (-performance ) Tj ET Q q 0 0 0 rg BT 140.55 86.85 Td (of ) Tj ET Q q 0 0 0 rg BT 149.29 86.85 Td (reporting ) Tj ET Q q 0 0 0 rg BT 180.69 86.85 Td (units ) Tj ET Q q 0 0 0 rg BT 198.32 86.85 Td (or ) Tj ET Q q 0 0 0 rg BT 207.06 86.85 Td (changes ) Tj ET Q q 0 0 0 rg BT 234.90 86.85 Td (in ) Tj ET Q q 0 0 0 rg BT 243.20 86.85 Td (projected ) Tj ET Q q 0 0 0 rg BT 275.04 86.85 Td (results, ) Tj ET Q q 0 0 0 rg BT 300.00 86.85 Td (changes ) Tj ET Q q 0 0 0 rg BT 327.84 86.85 Td (in ) Tj ET Q q 0 0 0 rg BT 336.13 86.85 Td (the ) Tj ET Q q 0 0 0 rg BT 347.98 86.85 Td (manner ) Tj ET Q q 0 0 0 rg BT 374.04 86.85 Td (of ) Tj ET Q q 0 0 0 rg BT 382.78 86.85 Td (utilization ) Tj ET Q q 0 0 0 rg BT 417.29 86.85 Td (of ) Tj ET Q q 0 0 0 rg BT 426.03 86.85 Td (the ) Tj ET Q q 0 0 0 rg BT 437.88 86.85 Td (asset, ) Tj ET Q q 0 0 0 rg BT 457.50 86.85 Td (a ) Tj ET Q q 0 0 0 rg BT 463.13 86.85 Td (severe ) Tj ET Q q 0 0 0 rg BT 485.63 86.85 Td (and ) Tj ET Q q 0 0 0 rg BT 499.26 86.85 Td (sustained ) Tj ET Q q 0 0 0 rg BT 531.11 86.85 Td (decline ) Tj ET Q q 0 0 0 rg BT 556.28 86.85 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 77.25 Td (the ) Tj ET Q q 0 0 0 rg BT 61.42 77.25 Td (price ) Tj ET Q q 0 0 0 rg BT 79.56 77.25 Td (of ) Tj ET Q q 0 0 0 rg BT 88.38 77.25 Td (our ) Tj ET Q q 0 0 0 rg BT 101.19 77.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 123.33 77.25 Td (and ) Tj ET Q q 0 0 0 rg BT 137.04 77.25 Td (negative ) Tj ET Q q 0 0 0 rg BT 166.28 77.25 Td (market ) Tj ET Q q 0 0 0 rg BT 190.64 77.25 Td (conditions ) Tj ET Q q 0 0 0 rg BT 226.13 77.25 Td (or ) Tj ET Q q 0 0 0 rg BT 234.94 77.25 Td (economic ) Tj ET Q q 0 0 0 rg BT 268.19 77.25 Td (trends. ) Tj ET Q q 0 0 0 rg BT 291.74 77.25 Td (Therefore, ) Tj ET Q q 0 0 0 rg BT 327.42 77.25 Td (our ) Tj ET Q q 0 0 0 rg BT 340.23 77.25 Td (judgment ) Tj ET Q q 0 0 0 rg BT 372.60 77.25 Td (as ) Tj ET Q q 0 0 0 rg BT 381.42 77.25 Td (to ) Tj ET Q q 0 0 0 rg BT 389.79 77.25 Td (the ) Tj ET Q q 0 0 0 rg BT 401.71 77.25 Td (future ) Tj ET Q q 0 0 0 rg BT 422.96 77.25 Td (prospects ) Tj ET Q q 0 0 0 rg BT 455.33 77.25 Td (of ) Tj ET Q q 0 0 0 rg BT 464.14 77.25 Td (each ) Tj ET Q q 0 0 0 rg BT 480.95 77.25 Td (business ) Tj ET Q q 0 0 0 rg BT 510.21 77.25 Td (has ) Tj ET Q q 0 0 0 rg BT 523.02 77.25 Td (a ) Tj ET Q q 0 0 0 rg BT 528.73 77.25 Td (significant ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 67.65 Td (impact ) Tj ET Q q 0 0 0 rg BT 73.55 67.65 Td (on ) Tj ET Q q 0 0 0 rg BT 83.83 67.65 Td (our ) Tj ET Q q 0 0 0 rg BT 96.78 67.65 Td (results ) Tj ET Q q 0 0 0 rg BT 119.95 67.65 Td (and ) Tj ET Q q 0 0 0 rg BT 133.78 67.65 Td (financial ) Tj ET Q q 0 0 0 rg BT 164.04 67.65 Td (condition. ) Tj ET Q q 0 0 0 rg BT 198.38 67.65 Td (W) Tj ET Q q 0 0 0 rg BT 205.29 67.65 Td (e ) Tj ET Q q 0 0 0 rg BT 211.12 67.65 Td (believe ) Tj ET Q q 0 0 0 rg BT 236.50 67.65 Td (that ) Tj ET Q q 0 0 0 rg BT 250.78 67.65 Td (our ) Tj ET Q q 0 0 0 rg BT 263.72 67.65 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 305.56 67.65 Td (are ) Tj ET Q q 0 0 0 rg BT 317.61 67.65 Td (appropriate. ) Tj ET Q q 0 0 0 rg BT 358.32 67.65 Td (If ) Tj ET Q q 0 0 0 rg BT 365.92 67.65 Td (future ) Tj ET Q q 0 0 0 rg BT 387.31 67.65 Td (cash ) Tj ET Q q 0 0 0 rg BT 403.80 67.65 Td (flows ) Tj ET Q q 0 0 0 rg BT 423.86 67.65 Td (do ) Tj ET Q q 0 0 0 rg BT 434.14 67.65 Td (not ) Tj ET Q q 0 0 0 rg BT 446.65 67.65 Td (materialize ) Tj ET Q q 0 0 0 rg BT 484.46 67.65 Td (as ) Tj ET Q q 0 0 0 rg BT 493.41 67.65 Td (expected ) Tj ET Q q 0 0 0 rg BT 524.11 67.65 Td (or ) Tj ET Q q 0 0 0 rg BT 533.06 67.65 Td (there ) Tj ET Q q 0 0 0 rg BT 551.33 67.65 Td (is ) Tj ET Q q 0 0 0 rg BT 558.94 67.65 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 58.05 Td (future ) Tj ET Q q 0 0 0 rg BT 70.60 58.05 Td (adverse ) Tj ET Q q 0 0 0 rg BT 97.03 58.05 Td (change ) Tj ET Q q 0 0 0 rg BT 121.68 58.05 Td (in ) Tj ET Q q 0 0 0 rg BT 129.91 58.05 Td (market ) Tj ET Q q 0 0 0 rg BT 154.12 58.05 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 191.45 58.05 Td (we ) Tj ET Q q 0 0 0 rg BT 202.78 58.05 Td (may ) Tj ET Q q 0 0 0 rg BT 218.55 58.05 Td (be ) Tj ET Q q 0 0 0 rg BT 228.10 58.05 Td (unable ) Tj ET Q q 0 0 0 rg BT 251.43 58.05 Td (to ) Tj ET Q q 0 0 0 rg BT 259.65 58.05 Td (recover ) Tj ET Q q 0 0 0 rg BT 285.63 58.05 Td (the ) Tj ET Q q 0 0 0 rg BT 297.40 58.05 Td (carrying ) Tj ET Q q 0 0 0 rg BT 326.05 58.05 Td (amount ) Tj ET Q q 0 0 0 rg BT 352.05 58.05 Td (of ) Tj ET Q q 0 0 0 rg BT 360.71 58.05 Td (an ) Tj ET Q q 0 0 0 rg BT 370.27 58.05 Td (asset, ) Tj ET Q q 0 0 0 rg BT 389.82 58.05 Td (resulting ) Tj ET Q q 0 0 0 rg BT 419.81 58.05 Td (in ) Tj ET Q q 0 0 0 rg BT 428.04 58.05 Td (future ) Tj ET Q q 0 0 0 rg BT 449.14 58.05 Td (impairment ) Tj ET Q q 0 0 0 rg BT 488.02 58.05 Td (losses.) Tj ET Q endstream endobj 81 0 obj <>] /Rotate 0 /Contents 82 0 R>> endobj 82 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (38) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 723.50 Td (Impairment ) Tj ET Q q 0 0 0 rg BT 89.12 723.50 Td (tests ) Tj ET Q q 0 0 0 rg BT 105.63 723.50 Td (of ) Tj ET Q q 0 0 0 rg BT 114.59 723.50 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 145.33 723.50 Td (and ) Tj ET Q q 0 0 0 rg BT 159.18 723.50 Td (indefinite-lived ) Tj ET Q q 0 0 0 rg BT 210.79 723.50 Td (intangible ) Tj ET Q q 0 0 0 rg BT 245.08 723.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 266.04 723.50 Td (are ) Tj ET Q q 0 0 0 rg BT 278.10 723.50 Td (performed ) Tj ET Q q 0 0 0 rg BT 313.71 723.50 Td (at ) Tj ET Q q 0 0 0 rg BT 321.78 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 333.84 723.50 Td (reporting ) Tj ET Q q 0 0 0 rg BT 365.46 723.50 Td (unit ) Tj ET Q q 0 0 0 rg BT 380.20 723.50 Td (level. ) Tj ET Q q 0 0 0 rg BT 400.04 723.50 Td (If ) Tj ET Q q 0 0 0 rg BT 407.67 723.50 Td (potential ) Tj ET Q q 0 0 0 rg BT 437.96 723.50 Td (impairments ) Tj ET Q q 0 0 0 rg BT 480.24 723.50 Td (of ) Tj ET Q q 0 0 0 rg BT 489.20 723.50 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 519.94 723.50 Td (exist, ) Tj ET Q q 0 0 0 rg BT 539.35 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 551.41 723.50 Td (fair ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 713.90 Td (value ) Tj ET Q q 0 0 0 rg BT 68.91 713.90 Td (of ) Tj ET Q q 0 0 0 rg BT 77.66 713.90 Td (the ) Tj ET Q q 0 0 0 rg BT 89.51 713.90 Td (reporting ) Tj ET Q q 0 0 0 rg BT 120.92 713.90 Td (unit ) Tj ET Q q 0 0 0 rg BT 135.45 713.90 Td (is ) Tj ET Q q 0 0 0 rg BT 142.87 713.90 Td (subsequently ) Tj ET Q q 0 0 0 rg BT 186.73 713.90 Td (measured ) Tj ET Q q 0 0 0 rg BT 219.46 713.90 Td (against ) Tj ET Q q 0 0 0 rg BT 244.21 713.90 Td (the ) Tj ET Q q 0 0 0 rg BT 256.07 713.90 Td (fair ) Tj ET Q q 0 0 0 rg BT 269.25 713.90 Td (value ) Tj ET Q q 0 0 0 rg BT 288.66 713.90 Td (of ) Tj ET Q q 0 0 0 rg BT 297.41 713.90 Td (its ) Tj ET Q q 0 0 0 rg BT 307.05 713.90 Td (underlying ) Tj ET Q q 0 0 0 rg BT 343.79 713.90 Td (assets ) Tj ET Q q 0 0 0 rg BT 364.54 713.90 Td (and ) Tj ET Q q 0 0 0 rg BT 378.18 713.90 Td (liabilities, ) Tj ET Q q 0 0 0 rg BT 412.04 713.90 Td (excluding ) Tj ET Q q 0 0 0 rg BT 445.67 713.90 Td (goodwill, ) Tj ET Q q 0 0 0 rg BT 478.20 713.90 Td (to ) Tj ET Q q 0 0 0 rg BT 486.50 713.90 Td (estimate ) Tj ET Q q 0 0 0 rg BT 515.24 713.90 Td (an ) Tj ET Q q 0 0 0 rg BT 524.88 713.90 Td (implied ) Tj ET Q q 0 0 0 rg BT 551.40 713.90 Td (fair ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 704.30 Td (value ) Tj ET Q q 0 0 0 rg BT 69.02 704.30 Td (of ) Tj ET Q q 0 0 0 rg BT 77.88 704.30 Td (the ) Tj ET Q q 0 0 0 rg BT 89.86 704.30 Td (reporting ) Tj ET Q q 0 0 0 rg BT 121.38 704.30 Td (unit's ) Tj ET Q q 0 0 0 rg BT 140.58 704.30 Td (goodwill. ) Tj ET Q q 0 0 0 rg BT 172.74 704.30 Td (An ) Tj ET Q q 0 0 0 rg BT 184.71 704.30 Td (impairment ) Tj ET Q q 0 0 0 rg BT 223.79 704.30 Td (loss ) Tj ET Q q 0 0 0 rg BT 238.44 704.30 Td (is ) Tj ET Q q 0 0 0 rg BT 245.97 704.30 Td (recognized ) Tj ET Q q 0 0 0 rg BT 283.26 704.30 Td (for ) Tj ET Q q 0 0 0 rg BT 294.78 704.30 Td (any ) Tj ET Q q 0 0 0 rg BT 308.53 704.30 Td (excess ) Tj ET Q q 0 0 0 rg BT 331.61 704.30 Td (of ) Tj ET Q q 0 0 0 rg BT 340.47 704.30 Td (the ) Tj ET Q q 0 0 0 rg BT 352.44 704.30 Td (carrying ) Tj ET Q q 0 0 0 rg BT 381.29 704.30 Td (amount ) Tj ET Q q 0 0 0 rg BT 407.49 704.30 Td (of ) Tj ET Q q 0 0 0 rg BT 416.35 704.30 Td (the ) Tj ET Q q 0 0 0 rg BT 428.32 704.30 Td (reporting ) Tj ET Q q 0 0 0 rg BT 459.85 704.30 Td (unit's ) Tj ET Q q 0 0 0 rg BT 479.04 704.30 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 509.69 704.30 Td (over ) Tj ET Q q 0 0 0 rg BT 526.10 704.30 Td (the ) Tj ET Q q 0 0 0 rg BT 538.07 704.30 Td (implied ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 694.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 62.76 694.70 Td (value. ) Tj ET Q q 0 0 0 rg BT 84.24 694.70 Td (If ) Tj ET Q q 0 0 0 rg BT 91.73 694.70 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 122.34 694.70 Td (and ) Tj ET Q q 0 0 0 rg BT 136.05 694.70 Td (another ) Tj ET Q q 0 0 0 rg BT 162.19 694.70 Td (asset ) Tj ET Q q 0 0 0 rg BT 179.90 694.70 Td (or ) Tj ET Q q 0 0 0 rg BT 188.73 694.70 Td (asset ) Tj ET Q q 0 0 0 rg BT 206.44 694.70 Td (group ) Tj ET Q q 0 0 0 rg BT 227.26 694.70 Td (are ) Tj ET Q q 0 0 0 rg BT 239.18 694.70 Td (tested ) Tj ET Q q 0 0 0 rg BT 260.00 694.70 Td (for ) Tj ET Q q 0 0 0 rg BT 271.49 694.70 Td (impairment ) Tj ET Q q 0 0 0 rg BT 310.53 694.70 Td (at ) Tj ET Q q 0 0 0 rg BT 318.46 694.70 Td (the ) Tj ET Q q 0 0 0 rg BT 330.39 694.70 Td (same ) Tj ET Q q 0 0 0 rg BT 348.99 694.70 Td (time, ) Tj ET Q q 0 0 0 rg BT 367.37 694.70 Td (the ) Tj ET Q q 0 0 0 rg BT 379.30 694.70 Td (other ) Tj ET Q q 0 0 0 rg BT 397.90 694.70 Td (assets ) Tj ET Q q 0 0 0 rg BT 418.72 694.70 Td (are ) Tj ET Q q 0 0 0 rg BT 430.65 694.70 Td (tested ) Tj ET Q q 0 0 0 rg BT 451.47 694.70 Td (for ) Tj ET Q q 0 0 0 rg BT 462.95 694.70 Td (impairment ) Tj ET Q q 0 0 0 rg BT 501.99 694.70 Td (before ) Tj ET Q q 0 0 0 rg BT 524.58 694.70 Td (goodwill. ) Tj ET Q q 0 0 0 rg BT 557.18 694.70 Td (If ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 685.10 Td (the ) Tj ET Q q 0 0 0 rg BT 61.27 685.10 Td (other ) Tj ET Q q 0 0 0 rg BT 79.71 685.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 97.26 685.10 Td (or ) Tj ET Q q 0 0 0 rg BT 105.93 685.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 123.48 685.10 Td (group ) Tj ET Q q 0 0 0 rg BT 144.14 685.10 Td (is ) Tj ET Q q 0 0 0 rg BT 151.48 685.10 Td (impaired, ) Tj ET Q q 0 0 0 rg BT 183.91 685.10 Td (this ) Tj ET Q q 0 0 0 rg BT 197.47 685.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 236.35 685.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 250.80 685.10 Td (is ) Tj ET Q q 0 0 0 rg BT 258.13 685.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 295.22 685.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 312.77 685.10 Td (to ) Tj ET Q q 0 0 0 rg BT 321.00 685.10 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 351.44 685.10 Td (being ) Tj ET Q q 0 0 0 rg BT 371.21 685.10 Td (tested ) Tj ET Q q 0 0 0 rg BT 391.88 685.10 Td (for ) Tj ET Q q 0 0 0 rg BT 403.20 685.10 Td (impairment.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 669.50 Td (The ) Tj ET Q q 0 0 0 rg BT 63.28 669.50 Td (fair ) Tj ET Q q 0 0 0 rg BT 75.72 669.50 Td (value ) Tj ET Q q 0 0 0 rg BT 94.38 669.50 Td (of ) Tj ET Q q 0 0 0 rg BT 102.39 669.50 Td (each ) Tj ET Q q 0 0 0 rg BT 118.38 669.50 Td (reporting ) Tj ET Q q 0 0 0 rg BT 149.04 669.50 Td (unit, ) Tj ET Q q 0 0 0 rg BT 164.83 669.50 Td (and ) Tj ET Q q 0 0 0 rg BT 177.72 669.50 Td (consequently ) Tj ET Q q 0 0 0 rg BT 221.27 669.50 Td (the ) Tj ET Q q 0 0 0 rg BT 232.38 669.50 Td (implied ) Tj ET Q q 0 0 0 rg BT 258.16 669.50 Td (fair ) Tj ET Q q 0 0 0 rg BT 270.61 669.50 Td (value ) Tj ET Q q 0 0 0 rg BT 289.27 669.50 Td (of ) Tj ET Q q 0 0 0 rg BT 297.27 669.50 Td (the ) Tj ET Q q 0 0 0 rg BT 308.39 669.50 Td (reporting ) Tj ET Q q 0 0 0 rg BT 339.05 669.50 Td (unit's ) Tj ET Q q 0 0 0 rg BT 357.39 669.50 Td (goodwill, ) Tj ET Q q 0 0 0 rg BT 389.18 669.50 Td (is ) Tj ET Q q 0 0 0 rg BT 395.85 669.50 Td (determined ) Tj ET Q q 0 0 0 rg BT 433.18 669.50 Td (using ) Tj ET Q q 0 0 0 rg BT 451.85 669.50 Td (an ) Tj ET Q q 0 0 0 rg BT 460.74 669.50 Td (income ) Tj ET Q q 0 0 0 rg BT 485.63 669.50 Td (methodology ) Tj ET Q q 0 0 0 rg BT 529.19 669.50 Td (estimating ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 659.90 Td (projected ) Tj ET Q q 0 0 0 rg BT 81.57 659.90 Td (future ) Tj ET Q q 0 0 0 rg BT 102.97 659.90 Td (cash ) Tj ET Q q 0 0 0 rg BT 119.49 659.90 Td (flows ) Tj ET Q q 0 0 0 rg BT 139.57 659.90 Td (related ) Tj ET Q q 0 0 0 rg BT 163.64 659.90 Td (to ) Tj ET Q q 0 0 0 rg BT 172.16 659.90 Td (each ) Tj ET Q q 0 0 0 rg BT 189.12 659.90 Td (reporting ) Tj ET Q q 0 0 0 rg BT 220.75 659.90 Td (unit. ) Tj ET Q q 0 0 0 rg BT 237.33 659.90 Td (These ) Tj ET Q q 0 0 0 rg BT 258.73 659.90 Td (projected ) Tj ET Q q 0 0 0 rg BT 290.80 659.90 Td (future ) Tj ET Q q 0 0 0 rg BT 312.20 659.90 Td (cash ) Tj ET Q q 0 0 0 rg BT 328.72 659.90 Td (flows ) Tj ET Q q 0 0 0 rg BT 348.80 659.90 Td (are ) Tj ET Q q 0 0 0 rg BT 360.87 659.90 Td (discounted ) Tj ET Q q 0 0 0 rg BT 397.84 659.90 Td (back ) Tj ET Q q 0 0 0 rg BT 415.24 659.90 Td (to ) Tj ET Q q 0 0 0 rg BT 423.77 659.90 Td (the ) Tj ET Q q 0 0 0 rg BT 435.85 659.90 Td (valuation ) Tj ET Q q 0 0 0 rg BT 467.92 659.90 Td (date. ) Tj ET Q q 0 0 0 rg BT 485.55 659.90 Td (Significant ) Tj ET Q q 0 0 0 rg BT 522.96 659.90 Td (assumptions ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 650.30 Td (inherent ) Tj ET Q q 0 0 0 rg BT 78.03 650.30 Td (in ) Tj ET Q q 0 0 0 rg BT 86.57 650.30 Td (the ) Tj ET Q q 0 0 0 rg BT 98.66 650.30 Td (methodology ) Tj ET Q q 0 0 0 rg BT 143.20 650.30 Td (used ) Tj ET Q q 0 0 0 rg BT 160.18 650.30 Td (include ) Tj ET Q q 0 0 0 rg BT 186.05 650.30 Td (estimates ) Tj ET Q q 0 0 0 rg BT 218.13 650.30 Td (of ) Tj ET Q q 0 0 0 rg BT 227.12 650.30 Td (discount ) Tj ET Q q 0 0 0 rg BT 256.54 650.30 Td (rates, ) Tj ET Q q 0 0 0 rg BT 275.96 650.30 Td (future ) Tj ET Q q 0 0 0 rg BT 297.38 650.30 Td (revenue ) Tj ET Q q 0 0 0 rg BT 325.02 650.30 Td (growth ) Tj ET Q q 0 0 0 rg BT 350.00 650.30 Td (rates ) Tj ET Q q 0 0 0 rg BT 367.42 650.30 Td (and ) Tj ET Q q 0 0 0 rg BT 381.29 650.30 Td (a ) Tj ET Q q 0 0 0 rg BT 387.16 650.30 Td (number ) Tj ET Q q 0 0 0 rg BT 413.92 650.30 Td (of ) Tj ET Q q 0 0 0 rg BT 422.90 650.30 Td (other ) Tj ET Q q 0 0 0 rg BT 441.65 650.30 Td (factors, ) Tj ET Q q 0 0 0 rg BT 467.74 650.30 Td (all ) Tj ET Q q 0 0 0 rg BT 478.05 650.30 Td (of ) Tj ET Q q 0 0 0 rg BT 487.04 650.30 Td (which ) Tj ET Q q 0 0 0 rg BT 508.90 650.30 Td (are ) Tj ET Q q 0 0 0 rg BT 520.99 650.30 Td (based ) Tj ET Q q 0 0 0 rg BT 541.52 650.30 Td (on ) Tj ET Q q 0 0 0 rg BT 551.84 650.30 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 640.70 Td (assessment ) Tj ET Q q 0 0 0 rg BT 86.65 640.70 Td (of ) Tj ET Q q 0 0 0 rg BT 94.91 640.70 Td (the ) Tj ET Q q 0 0 0 rg BT 106.28 640.70 Td (future ) Tj ET Q q 0 0 0 rg BT 126.97 640.70 Td (prospects ) Tj ET Q q 0 0 0 rg BT 158.78 640.70 Td (and ) Tj ET Q q 0 0 0 rg BT 171.93 640.70 Td (the ) Tj ET Q q 0 0 0 rg BT 183.30 640.70 Td (risks ) Tj ET Q q 0 0 0 rg BT 200.01 640.70 Td (inherent ) Tj ET Q q 0 0 0 rg BT 227.81 640.70 Td (at ) Tj ET Q q 0 0 0 rg BT 235.18 640.70 Td (the ) Tj ET Q q 0 0 0 rg BT 246.55 640.70 Td (respective ) Tj ET Q q 0 0 0 rg BT 280.57 640.70 Td (reporting ) Tj ET Q q 0 0 0 rg BT 311.49 640.70 Td (units. ) Tj ET Q q 0 0 0 rg BT 330.53 640.70 Td (W) Tj ET Q q 0 0 0 rg BT 337.44 640.70 Td (e ) Tj ET Q q 0 0 0 rg BT 342.59 640.70 Td (have ) Tj ET Q q 0 0 0 rg BT 359.29 640.70 Td (identified ) Tj ET Q q 0 0 0 rg BT 391.54 640.70 Td (six ) Tj ET Q q 0 0 0 rg BT 402.47 640.70 Td (reporting ) Tj ET Q q 0 0 0 rg BT 433.39 640.70 Td (units ) Tj ET Q q 0 0 0 rg BT 450.54 640.70 Td (which ) Tj ET Q q 0 0 0 rg BT 471.69 640.70 Td (consist ) Tj ET Q q 0 0 0 rg BT 495.51 640.70 Td (of ) Tj ET Q q 0 0 0 rg BT 503.77 640.70 Td (our ) Tj ET Q q 0 0 0 rg BT 516.03 640.70 Td (six ) Tj ET Q q 0 0 0 rg BT 526.96 640.70 Td (geographic ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 631.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 81.71 631.10 Td (segments: ) Tj ET Q q 0 0 0 rg BT 115.71 631.10 Td (Bulgaria, ) Tj ET Q q 0 0 0 rg BT 147.25 631.10 Td (Croatia, ) Tj ET Q q 0 0 0 rg BT 174.80 631.10 Td (Czech ) Tj ET Q q 0 0 0 rg BT 196.79 631.10 Td (Republic, ) Tj ET Q q 0 0 0 rg BT 229.67 631.10 Td (Romania, ) Tj ET Q q 0 0 0 rg BT 262.55 631.10 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 286.78 631.10 Td (Republic ) Tj ET Q q 0 0 0 rg BT 317.66 631.10 Td (and ) Tj ET Q q 0 0 0 rg BT 331.21 631.10 Td (Slovenia.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 615.50 Td (Recoverability ) Tj ET Q q 0 0 0 rg BT 98.37 615.50 Td (of ) Tj ET Q q 0 0 0 rg BT 106.80 615.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 127.24 615.50 Td (to ) Tj ET Q q 0 0 0 rg BT 135.23 615.50 Td (be ) Tj ET Q q 0 0 0 rg BT 144.55 615.50 Td (held ) Tj ET Q q 0 0 0 rg BT 160.10 615.50 Td (and ) Tj ET Q q 0 0 0 rg BT 173.42 615.50 Td (used ) Tj ET Q q 0 0 0 rg BT 189.86 615.50 Td (is ) Tj ET Q q 0 0 0 rg BT 196.96 615.50 Td (measured ) Tj ET Q q 0 0 0 rg BT 229.39 615.50 Td (by ) Tj ET Q q 0 0 0 rg BT 239.16 615.50 Td (a ) Tj ET Q q 0 0 0 rg BT 244.48 615.50 Td (comparison ) Tj ET Q q 0 0 0 rg BT 283.58 615.50 Td (of ) Tj ET Q q 0 0 0 rg BT 292.01 615.50 Td (the ) Tj ET Q q 0 0 0 rg BT 303.56 615.50 Td (carrying ) Tj ET Q q 0 0 0 rg BT 331.98 615.50 Td (amount ) Tj ET Q q 0 0 0 rg BT 357.75 615.50 Td (of ) Tj ET Q q 0 0 0 rg BT 366.18 615.50 Td (an ) Tj ET Q q 0 0 0 rg BT 375.51 615.50 Td (asset ) Tj ET Q q 0 0 0 rg BT 392.83 615.50 Td (to ) Tj ET Q q 0 0 0 rg BT 400.82 615.50 Td (estimated ) Tj ET Q q 0 0 0 rg BT 433.25 615.50 Td (undiscounted ) Tj ET Q q 0 0 0 rg BT 477.68 615.50 Td (future ) Tj ET Q q 0 0 0 rg BT 498.55 615.50 Td (cash ) Tj ET Q q 0 0 0 rg BT 514.54 615.50 Td (flows ) Tj ET Q q 0 0 0 rg BT 534.09 615.50 Td (expected ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 605.90 Td (to ) Tj ET Q q 0 0 0 rg BT 57.78 605.90 Td (be ) Tj ET Q q 0 0 0 rg BT 67.39 605.90 Td (generated ) Tj ET Q q 0 0 0 rg BT 100.54 605.90 Td (by ) Tj ET Q q 0 0 0 rg BT 110.59 605.90 Td (the ) Tj ET Q q 0 0 0 rg BT 122.42 605.90 Td (respective ) Tj ET Q q 0 0 0 rg BT 156.91 605.90 Td (asset. ) Tj ET Q q 0 0 0 rg BT 176.37 605.90 Td (The ) Tj ET Q q 0 0 0 rg BT 190.86 605.90 Td (same ) Tj ET Q q 0 0 0 rg BT 209.36 605.90 Td (estimates ) Tj ET Q q 0 0 0 rg BT 241.19 605.90 Td (are ) Tj ET Q q 0 0 0 rg BT 253.01 605.90 Td (also ) Tj ET Q q 0 0 0 rg BT 267.95 605.90 Td (used ) Tj ET Q q 0 0 0 rg BT 284.67 605.90 Td (in ) Tj ET Q q 0 0 0 rg BT 292.95 605.90 Td (planning ) Tj ET Q q 0 0 0 rg BT 323.01 605.90 Td (for ) Tj ET Q q 0 0 0 rg BT 334.39 605.90 Td (our ) Tj ET Q q 0 0 0 rg BT 347.12 605.90 Td (long- ) Tj ET Q q 0 0 0 rg BT 366.06 605.90 Td (and ) Tj ET Q q 0 0 0 rg BT 379.67 605.90 Td (short-range ) Tj ET Q q 0 0 0 rg BT 418.16 605.90 Td (business ) Tj ET Q q 0 0 0 rg BT 447.33 605.90 Td (planning ) Tj ET Q q 0 0 0 rg BT 477.38 605.90 Td (and ) Tj ET Q q 0 0 0 rg BT 490.99 605.90 Td (forecasting. ) Tj ET Q q 0 0 0 rg BT 530.44 605.90 Td (W) Tj ET Q q 0 0 0 rg BT 537.35 605.90 Td (e ) Tj ET Q q 0 0 0 rg BT 542.96 605.90 Td (assess ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 596.30 Td (the ) Tj ET Q q 0 0 0 rg BT 60.96 596.30 Td (reasonableness ) Tj ET Q q 0 0 0 rg BT 110.63 596.30 Td (of ) Tj ET Q q 0 0 0 rg BT 118.98 596.30 Td (the ) Tj ET Q q 0 0 0 rg BT 130.44 596.30 Td (inputs ) Tj ET Q q 0 0 0 rg BT 151.69 596.30 Td (and ) Tj ET Q q 0 0 0 rg BT 164.93 596.30 Td (outcomes ) Tj ET Q q 0 0 0 rg BT 197.27 596.30 Td (of ) Tj ET Q q 0 0 0 rg BT 205.63 596.30 Td (our ) Tj ET Q q 0 0 0 rg BT 217.98 596.30 Td (undiscounted ) Tj ET Q q 0 0 0 rg BT 262.32 596.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 278.23 596.30 Td (flow ) Tj ET Q q 0 0 0 rg BT 294.58 596.30 Td (analysis ) Tj ET Q q 0 0 0 rg BT 322.04 596.30 Td (against ) Tj ET Q q 0 0 0 rg BT 346.39 596.30 Td (available ) Tj ET Q q 0 0 0 rg BT 376.95 596.30 Td (comparable ) Tj ET Q q 0 0 0 rg BT 415.95 596.30 Td (market ) Tj ET Q q 0 0 0 rg BT 439.84 596.30 Td (data. ) Tj ET Q q 0 0 0 rg BT 456.86 596.30 Td (If ) Tj ET Q q 0 0 0 rg BT 463.87 596.30 Td (the ) Tj ET Q q 0 0 0 rg BT 475.33 596.30 Td (carrying ) Tj ET Q q 0 0 0 rg BT 503.67 596.30 Td (amount ) Tj ET Q q 0 0 0 rg BT 529.36 596.30 Td (of ) Tj ET Q q 0 0 0 rg BT 537.71 596.30 Td (an ) Tj ET Q q 0 0 0 rg BT 546.95 596.30 Td (asset ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 586.70 Td (exceeds ) Tj ET Q q 0 0 0 rg BT 76.75 586.70 Td (its ) Tj ET Q q 0 0 0 rg BT 86.25 586.70 Td (estimated ) Tj ET Q q 0 0 0 rg BT 118.84 586.70 Td (undiscounted ) Tj ET Q q 0 0 0 rg BT 163.43 586.70 Td (future ) Tj ET Q q 0 0 0 rg BT 184.47 586.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 200.62 586.70 Td (flows, ) Tj ET Q q 0 0 0 rg BT 222.33 586.70 Td (an ) Tj ET Q q 0 0 0 rg BT 231.82 586.70 Td (impairment ) Tj ET Q q 0 0 0 rg BT 270.63 586.70 Td (char) Tj ET Q q 0 0 0 rg BT 284.26 586.70 Td (ge ) Tj ET Q q 0 0 0 rg BT 293.74 586.70 Td (is ) Tj ET Q q 0 0 0 rg BT 301.01 586.70 Td (recognized ) Tj ET Q q 0 0 0 rg BT 338.04 586.70 Td (for ) Tj ET Q q 0 0 0 rg BT 349.30 586.70 Td (the ) Tj ET Q q 0 0 0 rg BT 361.01 586.70 Td (amount ) Tj ET Q q 0 0 0 rg BT 386.94 586.70 Td (by ) Tj ET Q q 0 0 0 rg BT 396.88 586.70 Td (which ) Tj ET Q q 0 0 0 rg BT 418.37 586.70 Td (the ) Tj ET Q q 0 0 0 rg BT 430.07 586.70 Td (carrying ) Tj ET Q q 0 0 0 rg BT 458.66 586.70 Td (amount ) Tj ET Q q 0 0 0 rg BT 484.59 586.70 Td (exceeds ) Tj ET Q q 0 0 0 rg BT 511.85 586.70 Td (the ) Tj ET Q q 0 0 0 rg BT 523.55 586.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 536.59 586.70 Td (value ) Tj ET Q q 0 0 0 rg BT 555.85 586.70 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 577.10 Td (the ) Tj ET Q q 0 0 0 rg BT 61.27 577.10 Td (respective ) Tj ET Q q 0 0 0 rg BT 95.70 577.10 Td (asset.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 561.50 Td (Assessing ) Tj ET Q q 0 0 0 rg BT 83.85 561.50 Td (the ) Tj ET Q q 0 0 0 rg BT 95.98 561.50 Td (fair ) Tj ET Q q 0 0 0 rg BT 109.43 561.50 Td (value ) Tj ET Q q 0 0 0 rg BT 129.11 561.50 Td (of ) Tj ET Q q 0 0 0 rg BT 138.12 561.50 Td (goodwill, ) Tj ET Q q 0 0 0 rg BT 170.92 561.50 Td (indefinite-lived ) Tj ET Q q 0 0 0 rg BT 222.58 561.50 Td (intangible ) Tj ET Q q 0 0 0 rg BT 256.93 561.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 277.94 561.50 Td (and ) Tj ET Q q 0 0 0 rg BT 291.84 561.50 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 327.08 561.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 348.09 561.50 Td (requires ) Tj ET Q q 0 0 0 rg BT 376.21 561.50 Td (significant ) Tj ET Q q 0 0 0 rg BT 412.33 561.50 Td (judgment ) Tj ET Q q 0 0 0 rg BT 444.90 561.50 Td (and ) Tj ET Q q 0 0 0 rg BT 458.80 561.50 Td (involves ) Tj ET Q q 0 0 0 rg BT 488.26 561.50 Td (a ) Tj ET Q q 0 0 0 rg BT 494.16 561.50 Td (great ) Tj ET Q q 0 0 0 rg BT 512.50 561.50 Td (deal ) Tj ET Q q 0 0 0 rg BT 528.17 561.50 Td (of ) Tj ET Q q 0 0 0 rg BT 537.19 561.50 Td (detailed ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 551.90 Td (quantitative ) Tj ET Q q 0 0 0 rg BT 89.47 551.90 Td (and ) Tj ET Q q 0 0 0 rg BT 103.23 551.90 Td (qualitative ) Tj ET Q q 0 0 0 rg BT 139.21 551.90 Td (business-specific ) Tj ET Q q 0 0 0 rg BT 196.07 551.90 Td (analysis ) Tj ET Q q 0 0 0 rg BT 224.05 551.90 Td (with ) Tj ET Q q 0 0 0 rg BT 240.48 551.90 Td (several ) Tj ET Q q 0 0 0 rg BT 265.35 551.90 Td (individual ) Tj ET Q q 0 0 0 rg BT 300.00 551.90 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 341.76 551.90 Td (which ) Tj ET Q q 0 0 0 rg BT 363.52 551.90 Td (fluctuate ) Tj ET Q q 0 0 0 rg BT 393.72 551.90 Td (with ) Tj ET Q q 0 0 0 rg BT 410.15 551.90 Td (the ) Tj ET Q q 0 0 0 rg BT 422.13 551.90 Td (passage ) Tj ET Q q 0 0 0 rg BT 449.22 551.90 Td (of ) Tj ET Q q 0 0 0 rg BT 458.09 551.90 Td (time. ) Tj ET Q q 0 0 0 rg BT 476.36 551.90 Td (The ) Tj ET Q q 0 0 0 rg BT 491.01 551.90 Td (table ) Tj ET Q q 0 0 0 rg BT 508.76 551.90 Td (below ) Tj ET Q q 0 0 0 rg BT 530.52 551.90 Td (shows ) Tj ET Q q 0 0 0 rg BT 552.73 551.90 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 542.30 Td (key ) Tj ET Q q 0 0 0 rg BT 63.05 542.30 Td (measurements ) Tj ET Q q 0 0 0 rg BT 110.81 542.30 Td (involved ) Tj ET Q q 0 0 0 rg BT 140.81 542.30 Td (and ) Tj ET Q q 0 0 0 rg BT 154.36 542.30 Td (the ) Tj ET Q q 0 0 0 rg BT 166.13 542.30 Td (valuation ) Tj ET Q q 0 0 0 rg BT 197.90 542.30 Td (methods ) Tj ET Q q 0 0 0 rg BT 227.01 542.30 Td (applied:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 510.80 254.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.50 510.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.50 510.80 254.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 480.80 254.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.50 480.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.50 480.80 254.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 510.8 m 303.5 510.8 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 510.8 m 307.5 510.8 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 510.8 m 561.5 510.8 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 515.03 Td (Measurement) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 310.00 515.03 Td (Valuation Method) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 500.05 Td (Recoverability of carrying amounts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 310.00 500.05 Td (Undiscounted future cash flows) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 485.05 Td (Fair value of broadcast licenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 310.00 485.05 Td (Build-out method) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 470.05 Td (Fair value of indefinite-lived trademarks) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 310.00 470.05 Td (Relief from royalty method) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 455.05 Td (Fair value of reporting units) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 310.00 455.05 Td (Discounted cash flow model) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 435.70 Td (Our ) Tj ET Q q 0 0 0 rg BT 64.10 435.70 Td (estimate ) Tj ET Q q 0 0 0 rg BT 92.92 435.70 Td (of ) Tj ET Q q 0 0 0 rg BT 101.74 435.70 Td (the ) Tj ET Q q 0 0 0 rg BT 113.68 435.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 130.05 435.70 Td (flows ) Tj ET Q q 0 0 0 rg BT 149.99 435.70 Td (our ) Tj ET Q q 0 0 0 rg BT 162.81 435.70 Td (operations ) Tj ET Q q 0 0 0 rg BT 198.30 435.70 Td (will ) Tj ET Q q 0 0 0 rg BT 212.90 435.70 Td (generate ) Tj ET Q q 0 0 0 rg BT 242.15 435.70 Td (in ) Tj ET Q q 0 0 0 rg BT 250.54 435.70 Td (future ) Tj ET Q q 0 0 0 rg BT 271.80 435.70 Td (periods ) Tj ET Q q 0 0 0 rg BT 297.51 435.70 Td (forms ) Tj ET Q q 0 0 0 rg BT 318.33 435.70 Td (the ) Tj ET Q q 0 0 0 rg BT 330.27 435.70 Td (basis ) Tj ET Q q 0 0 0 rg BT 348.43 435.70 Td (for ) Tj ET Q q 0 0 0 rg BT 359.91 435.70 Td (most ) Tj ET Q q 0 0 0 rg BT 377.63 435.70 Td (of ) Tj ET Q q 0 0 0 rg BT 386.46 435.70 Td (the ) Tj ET Q q 0 0 0 rg BT 398.39 435.70 Td (significant ) Tj ET Q q 0 0 0 rg BT 434.32 435.70 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 476.04 435.70 Td (inherent ) Tj ET Q q 0 0 0 rg BT 504.41 435.70 Td (in ) Tj ET Q q 0 0 0 rg BT 512.79 435.70 Td (our ) Tj ET Q q 0 0 0 rg BT 525.62 435.70 Td (impairment ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 426.10 Td (reviews. ) Tj ET Q q 0 0 0 rg BT 78.83 426.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 93.73 426.10 Td (expectations ) Tj ET Q q 0 0 0 rg BT 136.17 426.10 Td (of ) Tj ET Q q 0 0 0 rg BT 145.29 426.10 Td (these ) Tj ET Q q 0 0 0 rg BT 164.19 426.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 180.86 426.10 Td (flows ) Tj ET Q q 0 0 0 rg BT 201.09 426.10 Td (are ) Tj ET Q q 0 0 0 rg BT 213.31 426.10 Td (developed ) Tj ET Q q 0 0 0 rg BT 248.64 426.10 Td (during ) Tj ET Q q 0 0 0 rg BT 271.99 426.10 Td (our ) Tj ET Q q 0 0 0 rg BT 285.11 426.10 Td (long- ) Tj ET Q q 0 0 0 rg BT 304.45 426.10 Td (and ) Tj ET Q q 0 0 0 rg BT 318.46 426.10 Td (short-range ) Tj ET Q q 0 0 0 rg BT 357.34 426.10 Td (business ) Tj ET Q q 0 0 0 rg BT 386.91 426.10 Td (planning ) Tj ET Q q 0 0 0 rg BT 417.36 426.10 Td (processes, ) Tj ET Q q 0 0 0 rg BT 452.48 426.10 Td (which ) Tj ET Q q 0 0 0 rg BT 474.48 426.10 Td (are ) Tj ET Q q 0 0 0 rg BT 486.70 426.10 Td (designed ) Tj ET Q q 0 0 0 rg BT 517.60 426.10 Td (to ) Tj ET Q q 0 0 0 rg BT 526.28 426.10 Td (address ) Tj ET Q q 0 0 0 rg BT 552.72 426.10 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 416.50 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 92.37 416.50 Td (inherent ) Tj ET Q q 0 0 0 rg BT 120.58 416.50 Td (in ) Tj ET Q q 0 0 0 rg BT 128.80 416.50 Td (the ) Tj ET Q q 0 0 0 rg BT 140.58 416.50 Td (forecasting ) Tj ET Q q 0 0 0 rg BT 178.12 416.50 Td (process ) Tj ET Q q 0 0 0 rg BT 204.11 416.50 Td (by ) Tj ET Q q 0 0 0 rg BT 214.11 416.50 Td (capturing ) Tj ET Q q 0 0 0 rg BT 246.32 416.50 Td (a ) Tj ET Q q 0 0 0 rg BT 251.87 416.50 Td (range ) Tj ET Q q 0 0 0 rg BT 271.64 416.50 Td (of ) Tj ET Q q 0 0 0 rg BT 280.30 416.50 Td (possible ) Tj ET Q q 0 0 0 rg BT 308.52 416.50 Td (views ) Tj ET Q q 0 0 0 rg BT 329.19 416.50 Td (about ) Tj ET Q q 0 0 0 rg BT 348.96 416.50 Td (key ) Tj ET Q q 0 0 0 rg BT 362.51 416.50 Td (trends ) Tj ET Q q 0 0 0 rg BT 384.06 416.50 Td (which ) Tj ET Q q 0 0 0 rg BT 405.61 416.50 Td (govern ) Tj ET Q q 0 0 0 rg BT 429.83 416.50 Td (future ) Tj ET Q q 0 0 0 rg BT 450.93 416.50 Td (cash ) Tj ET Q q 0 0 0 rg BT 467.14 416.50 Td (flow ) Tj ET Q q 0 0 0 rg BT 483.81 416.50 Td (growth.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 400.90 Td (Historically) Tj ET Q q 0 0 0 rg BT 86.75 400.90 Td (, ) Tj ET Q q 0 0 0 rg BT 90.87 400.90 Td (the ) Tj ET Q q 0 0 0 rg BT 102.77 400.90 Td (overall ) Tj ET Q q 0 0 0 rg BT 127.11 400.90 Td (cash ) Tj ET Q q 0 0 0 rg BT 143.45 400.90 Td (flow ) Tj ET Q q 0 0 0 rg BT 160.23 400.90 Td (growth ) Tj ET Q q 0 0 0 rg BT 185.02 400.90 Td (rates ) Tj ET Q q 0 0 0 rg BT 202.25 400.90 Td (achieved ) Tj ET Q q 0 0 0 rg BT 232.80 400.90 Td (by ) Tj ET Q q 0 0 0 rg BT 242.92 400.90 Td (our ) Tj ET Q q 0 0 0 rg BT 255.71 400.90 Td (operations ) Tj ET Q q 0 0 0 rg BT 291.16 400.90 Td (have ) Tj ET Q q 0 0 0 rg BT 308.38 400.90 Td (not ) Tj ET Q q 0 0 0 rg BT 320.73 400.90 Td (provided ) Tj ET Q q 0 0 0 rg BT 351.29 400.90 Td (a ) Tj ET Q q 0 0 0 rg BT 356.97 400.90 Td (good ) Tj ET Q q 0 0 0 rg BT 375.09 400.90 Td (indication ) Tj ET Q q 0 0 0 rg BT 409.21 400.90 Td (of ) Tj ET Q q 0 0 0 rg BT 417.99 400.90 Td (future ) Tj ET Q q 0 0 0 rg BT 439.22 400.90 Td (cash ) Tj ET Q q 0 0 0 rg BT 455.56 400.90 Td (flows. ) Tj ET Q q 0 0 0 rg BT 477.31 400.90 Td (This ) Tj ET Q q 0 0 0 rg BT 493.65 400.90 Td (is ) Tj ET Q q 0 0 0 rg BT 501.11 400.90 Td (lar) Tj ET Q q 0 0 0 rg BT 509.41 400.90 Td (gely ) Tj ET Q q 0 0 0 rg BT 525.30 400.90 Td (because ) Tj ET Q q 0 0 0 rg BT 552.74 400.90 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 391.30 Td (markets ) Tj ET Q q 0 0 0 rg BT 76.85 391.30 Td (in ) Tj ET Q q 0 0 0 rg BT 85.09 391.30 Td (which ) Tj ET Q q 0 0 0 rg BT 106.67 391.30 Td (we ) Tj ET Q q 0 0 0 rg BT 118.02 391.30 Td (operate ) Tj ET Q q 0 0 0 rg BT 143.58 391.30 Td (are ) Tj ET Q q 0 0 0 rg BT 155.37 391.30 Td (relatively ) Tj ET Q q 0 0 0 rg BT 187.60 391.30 Td (new ) Tj ET Q q 0 0 0 rg BT 202.95 391.30 Td (and ) Tj ET Q q 0 0 0 rg BT 216.53 391.30 Td (have ) Tj ET Q q 0 0 0 rg BT 233.65 391.30 Td (experienced ) Tj ET Q q 0 0 0 rg BT 274.32 391.30 Td (high ) Tj ET Q q 0 0 0 rg BT 290.56 391.30 Td (levels ) Tj ET Q q 0 0 0 rg BT 311.25 391.30 Td (of ) Tj ET Q q 0 0 0 rg BT 319.93 391.30 Td (growth ) Tj ET Q q 0 0 0 rg BT 344.62 391.30 Td (as ) Tj ET Q q 0 0 0 rg BT 353.31 391.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 390.88 391.30 Td (markets ) Tj ET Q q 0 0 0 rg BT 418.23 391.30 Td (became ) Tj ET Q q 0 0 0 rg BT 444.68 391.30 Td (rapidly ) Tj ET Q q 0 0 0 rg BT 469.36 391.30 Td (established. ) Tj ET Q q 0 0 0 rg BT 508.93 391.30 Td (Instead, ) Tj ET Q q 0 0 0 rg BT 536.05 391.30 Td (we ) Tj ET Q q 0 0 0 rg BT 547.41 391.30 Td (have ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 381.70 Td (observed ) Tj ET Q q 0 0 0 rg BT 80.17 381.70 Td (over ) Tj ET Q q 0 0 0 rg BT 96.18 381.70 Td (many ) Tj ET Q q 0 0 0 rg BT 115.74 381.70 Td (years ) Tj ET Q q 0 0 0 rg BT 134.41 381.70 Td (a ) Tj ET Q q 0 0 0 rg BT 139.76 381.70 Td (strong ) Tj ET Q q 0 0 0 rg BT 161.55 381.70 Td (positive ) Tj ET Q q 0 0 0 rg BT 188.67 381.70 Td (correlation ) Tj ET Q q 0 0 0 rg BT 225.11 381.70 Td (between ) Tj ET Q q 0 0 0 rg BT 253.56 381.70 Td (the ) Tj ET Q q 0 0 0 rg BT 265.12 381.70 Td (macro-economic ) Tj ET Q q 0 0 0 rg BT 320.67 381.70 Td (performance ) Tj ET Q q 0 0 0 rg BT 362.88 381.70 Td (of ) Tj ET Q q 0 0 0 rg BT 371.33 381.70 Td (our ) Tj ET Q q 0 0 0 rg BT 383.79 381.70 Td (markets ) Tj ET Q q 0 0 0 rg BT 410.90 381.70 Td (and ) Tj ET Q q 0 0 0 rg BT 424.25 381.70 Td (the ) Tj ET Q q 0 0 0 rg BT 435.81 381.70 Td (size ) Tj ET Q q 0 0 0 rg BT 450.04 381.70 Td (of ) Tj ET Q q 0 0 0 rg BT 458.50 381.70 Td (the ) Tj ET Q q 0 0 0 rg BT 470.06 381.70 Td (television ) Tj ET Q q 0 0 0 rg BT 502.96 381.70 Td (advertising ) Tj ET Q q 0 0 0 rg BT 540.30 381.70 Td (market ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 372.10 Td (and ) Tj ET Q q 0 0 0 rg BT 62.89 372.10 Td (ultimately ) Tj ET Q q 0 0 0 rg BT 97.17 372.10 Td (the ) Tj ET Q q 0 0 0 rg BT 108.78 372.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 124.84 372.10 Td (flows ) Tj ET Q q 0 0 0 rg BT 144.45 372.10 Td (we ) Tj ET Q q 0 0 0 rg BT 155.62 372.10 Td (generate. ) Tj ET Q q 0 0 0 rg BT 186.42 372.10 Td (W) Tj ET Q q 0 0 0 rg BT 193.65 372.10 Td (ith ) Tj ET Q q 0 0 0 rg BT 203.93 372.10 Td (this ) Tj ET Q q 0 0 0 rg BT 217.33 372.10 Td (in ) Tj ET Q q 0 0 0 rg BT 225.39 372.10 Td (mind, ) Tj ET Q q 0 0 0 rg BT 245.68 372.10 Td (we ) Tj ET Q q 0 0 0 rg BT 256.85 372.10 Td (have ) Tj ET Q q 0 0 0 rg BT 273.79 372.10 Td (placed ) Tj ET Q q 0 0 0 rg BT 296.50 372.10 Td (a ) Tj ET Q q 0 0 0 rg BT 301.89 372.10 Td (high ) Tj ET Q q 0 0 0 rg BT 317.96 372.10 Td (importance ) Tj ET Q q 0 0 0 rg BT 355.78 372.10 Td (on ) Tj ET Q q 0 0 0 rg BT 365.62 372.10 Td (developing ) Tj ET Q q 0 0 0 rg BT 403.01 372.10 Td (our ) Tj ET Q q 0 0 0 rg BT 415.51 372.10 Td (expectations ) Tj ET Q q 0 0 0 rg BT 457.34 372.10 Td (for ) Tj ET Q q 0 0 0 rg BT 468.50 372.10 Td (the ) Tj ET Q q 0 0 0 rg BT 480.12 372.10 Td (future ) Tj ET Q q 0 0 0 rg BT 501.06 372.10 Td (development ) Tj ET Q q 0 0 0 rg BT 544.22 372.10 Td (of ) Tj ET Q q 0 0 0 rg BT 552.72 372.10 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 362.50 Td (macro-economic ) Tj ET Q q 0 0 0 rg BT 105.29 362.50 Td (environment ) Tj ET Q q 0 0 0 rg BT 147.76 362.50 Td (in ) Tj ET Q q 0 0 0 rg BT 156.02 362.50 Td (general, ) Tj ET Q q 0 0 0 rg BT 183.60 362.50 Td (the ) Tj ET Q q 0 0 0 rg BT 195.41 362.50 Td (advertising ) Tj ET Q q 0 0 0 rg BT 232.99 362.50 Td (market ) Tj ET Q q 0 0 0 rg BT 257.24 362.50 Td (and ) Tj ET Q q 0 0 0 rg BT 270.83 362.50 Td (our ) Tj ET Q q 0 0 0 rg BT 283.53 362.50 Td (share ) Tj ET Q q 0 0 0 rg BT 302.45 362.50 Td (of ) Tj ET Q q 0 0 0 rg BT 311.15 362.50 Td (it ) Tj ET Q q 0 0 0 rg BT 317.64 362.50 Td (in ) Tj ET Q q 0 0 0 rg BT 325.90 362.50 Td (particular) Tj ET Q q 0 0 0 rg BT 356.10 362.50 Td (. ) Tj ET Q q 0 0 0 rg BT 360.00 362.50 Td (While ) Tj ET Q q 0 0 0 rg BT 381.58 362.50 Td (this ) Tj ET Q q 0 0 0 rg BT 395.18 362.50 Td (has ) Tj ET Q q 0 0 0 rg BT 407.88 362.50 Td (involved ) Tj ET Q q 0 0 0 rg BT 437.91 362.50 Td (an ) Tj ET Q q 0 0 0 rg BT 447.50 362.50 Td (appreciation ) Tj ET Q q 0 0 0 rg BT 489.08 362.50 Td (of ) Tj ET Q q 0 0 0 rg BT 497.78 362.50 Td (historical ) Tj ET Q q 0 0 0 rg BT 529.58 362.50 Td (trends, ) Tj ET Q q 0 0 0 rg BT 553.17 362.50 Td (we ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 352.90 Td (have ) Tj ET Q q 0 0 0 rg BT 66.50 352.90 Td (placed ) Tj ET Q q 0 0 0 rg BT 89.28 352.90 Td (a ) Tj ET Q q 0 0 0 rg BT 94.73 352.90 Td (higher ) Tj ET Q q 0 0 0 rg BT 117.07 352.90 Td (emphasis ) Tj ET Q q 0 0 0 rg BT 148.75 352.90 Td (on ) Tj ET Q q 0 0 0 rg BT 158.65 352.90 Td (forecasting ) Tj ET Q q 0 0 0 rg BT 196.09 352.90 Td (these ) Tj ET Q q 0 0 0 rg BT 214.43 352.90 Td (market ) Tj ET Q q 0 0 0 rg BT 238.55 352.90 Td (trends, ) Tj ET Q q 0 0 0 rg BT 262.00 352.90 Td (which ) Tj ET Q q 0 0 0 rg BT 283.45 352.90 Td (has ) Tj ET Q q 0 0 0 rg BT 296.02 352.90 Td (involved ) Tj ET Q q 0 0 0 rg BT 325.92 352.90 Td (a ) Tj ET Q q 0 0 0 rg BT 331.37 352.90 Td (detailed ) Tj ET Q q 0 0 0 rg BT 358.59 352.90 Td (review ) Tj ET Q q 0 0 0 rg BT 382.26 352.90 Td (of ) Tj ET Q q 0 0 0 rg BT 390.83 352.90 Td (macro-economic ) Tj ET Q q 0 0 0 rg BT 446.48 352.90 Td (data, ) Tj ET Q q 0 0 0 rg BT 463.71 352.90 Td (a ) Tj ET Q q 0 0 0 rg BT 469.16 352.90 Td (range ) Tj ET Q q 0 0 0 rg BT 488.83 352.90 Td (of ) Tj ET Q q 0 0 0 rg BT 497.39 352.90 Td (both ) Tj ET Q q 0 0 0 rg BT 513.52 352.90 Td (proprietary ) Tj ET Q q 0 0 0 rg BT 550.96 352.90 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 343.30 Td (publicly-available ) Tj ET Q q 0 0 0 rg BT 109.25 343.30 Td (estimates ) Tj ET Q q 0 0 0 rg BT 141.02 343.30 Td (for ) Tj ET Q q 0 0 0 rg BT 152.35 343.30 Td (future ) Tj ET Q q 0 0 0 rg BT 173.45 343.30 Td (market ) Tj ET Q q 0 0 0 rg BT 197.66 343.30 Td (development, ) Tj ET Q q 0 0 0 rg BT 242.98 343.30 Td (and ) Tj ET Q q 0 0 0 rg BT 256.54 343.30 Td (a ) Tj ET Q q 0 0 0 rg BT 262.09 343.30 Td (process ) Tj ET Q q 0 0 0 rg BT 288.08 343.30 Td (of ) Tj ET Q q 0 0 0 rg BT 296.74 343.30 Td (on-going ) Tj ET Q q 0 0 0 rg BT 327.63 343.30 Td (consultation ) Tj ET Q q 0 0 0 rg BT 368.73 343.30 Td (with ) Tj ET Q q 0 0 0 rg BT 384.96 343.30 Td (local ) Tj ET Q q 0 0 0 rg BT 402.50 343.30 Td (management.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 327.70 Td (In ) Tj ET Q q 0 0 0 rg BT 58.70 327.70 Td (developing ) Tj ET Q q 0 0 0 rg BT 96.79 327.70 Td (our ) Tj ET Q q 0 0 0 rg BT 109.99 327.70 Td (forecasts ) Tj ET Q q 0 0 0 rg BT 140.96 327.70 Td (of ) Tj ET Q q 0 0 0 rg BT 150.16 327.70 Td (future ) Tj ET Q q 0 0 0 rg BT 171.80 327.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 188.56 327.70 Td (flows, ) Tj ET Q q 0 0 0 rg BT 210.88 327.70 Td (we ) Tj ET Q q 0 0 0 rg BT 222.74 327.70 Td (take ) Tj ET Q q 0 0 0 rg BT 238.61 327.70 Td (into ) Tj ET Q q 0 0 0 rg BT 253.59 327.70 Td (account ) Tj ET Q q 0 0 0 rg BT 281.00 327.70 Td (all ) Tj ET Q q 0 0 0 rg BT 291.54 327.70 Td (available ) Tj ET Q q 0 0 0 rg BT 322.95 327.70 Td (external ) Tj ET Q q 0 0 0 rg BT 351.25 327.70 Td (estimates ) Tj ET Q q 0 0 0 rg BT 383.56 327.70 Td (in ) Tj ET Q q 0 0 0 rg BT 392.32 327.70 Td (addition ) Tj ET Q q 0 0 0 rg BT 421.08 327.70 Td (to ) Tj ET Q q 0 0 0 rg BT 429.84 327.70 Td (considering ) Tj ET Q q 0 0 0 rg BT 469.70 327.70 Td (developments ) Tj ET Q q 0 0 0 rg BT 516.68 327.70 Td (in ) Tj ET Q q 0 0 0 rg BT 525.44 327.70 Td (each ) Tj ET Q q 0 0 0 rg BT 542.63 327.70 Td (of ) Tj ET Q q 0 0 0 rg BT 551.83 327.70 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 318.10 Td (markets, ) Tj ET Q q 0 0 0 rg BT 78.27 318.10 Td (which ) Tj ET Q q 0 0 0 rg BT 99.26 318.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 125.14 318.10 Td (direct ) Tj ET Q q 0 0 0 rg BT 144.80 318.10 Td (evidence ) Tj ET Q q 0 0 0 rg BT 174.67 318.10 Td (of ) Tj ET Q q 0 0 0 rg BT 182.77 318.10 Td (the ) Tj ET Q q 0 0 0 rg BT 193.99 318.10 Td (state ) Tj ET Q q 0 0 0 rg BT 210.09 318.10 Td (of ) Tj ET Q q 0 0 0 rg BT 218.20 318.10 Td (the ) Tj ET Q q 0 0 0 rg BT 229.42 318.10 Td (market ) Tj ET Q q 0 0 0 rg BT 253.07 318.10 Td (and ) Tj ET Q q 0 0 0 rg BT 266.07 318.10 Td (future ) Tj ET Q q 0 0 0 rg BT 286.61 318.10 Td (market ) Tj ET Q q 0 0 0 rg BT 310.27 318.10 Td (development. ) Tj ET Q q 0 0 0 rg BT 355.03 318.10 Td (In ) Tj ET Q q 0 0 0 rg BT 363.14 318.10 Td (concluding ) Tj ET Q q 0 0 0 rg BT 400.13 318.10 Td (whether ) Tj ET Q q 0 0 0 rg BT 427.34 318.10 Td (a ) Tj ET Q q 0 0 0 rg BT 432.33 318.10 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 462.22 318.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 500.54 318.10 Td (char) Tj ET Q q 0 0 0 rg BT 514.16 318.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 523.16 318.10 Td (is ) Tj ET Q q 0 0 0 rg BT 529.94 318.10 Td (necessary) Tj ET Q q 0 0 0 rg BT 560.51 318.10 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 308.50 Td (we ) Tj ET Q q 0 0 0 rg BT 60.71 308.50 Td (perform ) Tj ET Q q 0 0 0 rg BT 88.35 308.50 Td (the ) Tj ET Q q 0 0 0 rg BT 100.00 308.50 Td (impairment ) Tj ET Q q 0 0 0 rg BT 138.76 308.50 Td (test ) Tj ET Q q 0 0 0 rg BT 151.75 308.50 Td (under ) Tj ET Q q 0 0 0 rg BT 171.84 308.50 Td (a ) Tj ET Q q 0 0 0 rg BT 177.27 308.50 Td (range ) Tj ET Q q 0 0 0 rg BT 196.92 308.50 Td (of ) Tj ET Q q 0 0 0 rg BT 205.46 308.50 Td (possible ) Tj ET Q q 0 0 0 rg BT 233.56 308.50 Td (scenarios. ) Tj ET Q q 0 0 0 rg BT 267.21 308.50 Td (In ) Tj ET Q q 0 0 0 rg BT 275.75 308.50 Td (order ) Tj ET Q q 0 0 0 rg BT 294.51 308.50 Td (to ) Tj ET Q q 0 0 0 rg BT 302.61 308.50 Td (check ) Tj ET Q q 0 0 0 rg BT 323.14 308.50 Td (the ) Tj ET Q q 0 0 0 rg BT 334.79 308.50 Td (reasonableness ) Tj ET Q q 0 0 0 rg BT 384.65 308.50 Td (of ) Tj ET Q q 0 0 0 rg BT 393.20 308.50 Td (the ) Tj ET Q q 0 0 0 rg BT 404.85 308.50 Td (fair ) Tj ET Q q 0 0 0 rg BT 417.83 308.50 Td (values ) Tj ET Q q 0 0 0 rg BT 440.14 308.50 Td (implied ) Tj ET Q q 0 0 0 rg BT 466.46 308.50 Td (by ) Tj ET Q q 0 0 0 rg BT 476.34 308.50 Td (our ) Tj ET Q q 0 0 0 rg BT 488.89 308.50 Td (cash ) Tj ET Q q 0 0 0 rg BT 504.98 308.50 Td (flow ) Tj ET Q q 0 0 0 rg BT 521.52 308.50 Td (estimates ) Tj ET Q q 0 0 0 rg BT 553.17 308.50 Td (we ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 298.90 Td (also ) Tj ET Q q 0 0 0 rg BT 64.70 298.90 Td (calculate ) Tj ET Q q 0 0 0 rg BT 95.43 298.90 Td (the ) Tj ET Q q 0 0 0 rg BT 107.51 298.90 Td (value ) Tj ET Q q 0 0 0 rg BT 127.14 298.90 Td (of ) Tj ET Q q 0 0 0 rg BT 136.12 298.90 Td (our ) Tj ET Q q 0 0 0 rg BT 149.09 298.90 Td (Class ) Tj ET Q q 0 0 0 rg BT 168.23 298.90 Td (A) Tj ET Q q 0 0 0 rg BT 173.56 298.90 Td ( ) Tj ET Q q 0 0 0 rg BT 175.87 298.90 Td (common ) Tj ET Q q 0 0 0 rg BT 206.18 298.90 Td (stock ) Tj ET Q q 0 0 0 rg BT 225.38 298.90 Td (implied ) Tj ET Q q 0 0 0 rg BT 252.13 298.90 Td (by ) Tj ET Q q 0 0 0 rg BT 262.44 298.90 Td (our ) Tj ET Q q 0 0 0 rg BT 275.41 298.90 Td (cash ) Tj ET Q q 0 0 0 rg BT 291.93 298.90 Td (flow ) Tj ET Q q 0 0 0 rg BT 308.91 298.90 Td (forecasts ) Tj ET Q q 0 0 0 rg BT 339.65 298.90 Td (and ) Tj ET Q q 0 0 0 rg BT 353.51 298.90 Td (compare ) Tj ET Q q 0 0 0 rg BT 383.36 298.90 Td (this ) Tj ET Q q 0 0 0 rg BT 397.22 298.90 Td (to ) Tj ET Q q 0 0 0 rg BT 405.76 298.90 Td (actual ) Tj ET Q q 0 0 0 rg BT 427.16 298.90 Td (traded ) Tj ET Q q 0 0 0 rg BT 449.46 298.90 Td (values ) Tj ET Q q 0 0 0 rg BT 472.21 298.90 Td (to ) Tj ET Q q 0 0 0 rg BT 480.74 298.90 Td (understand ) Tj ET Q q 0 0 0 rg BT 518.15 298.90 Td (the ) Tj ET Q q 0 0 0 rg BT 530.23 298.90 Td (dif) Tj ET Q q 0 0 0 rg BT 538.98 298.90 Td (ference ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 289.30 Td (between ) Tj ET Q q 0 0 0 rg BT 78.15 289.30 Td (the ) Tj ET Q q 0 0 0 rg BT 89.93 289.30 Td (two.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 273.70 Td (Each ) Tj ET Q q 0 0 0 rg BT 67.18 273.70 Td (method ) Tj ET Q q 0 0 0 rg BT 92.88 273.70 Td (noted ) Tj ET Q q 0 0 0 rg BT 112.35 273.70 Td (above ) Tj ET Q q 0 0 0 rg BT 133.14 273.70 Td (involves ) Tj ET Q q 0 0 0 rg BT 161.95 273.70 Td (a ) Tj ET Q q 0 0 0 rg BT 167.20 273.70 Td (number ) Tj ET Q q 0 0 0 rg BT 193.33 273.70 Td (of ) Tj ET Q q 0 0 0 rg BT 201.69 273.70 Td (significant ) Tj ET Q q 0 0 0 rg BT 237.16 273.70 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 278.41 273.70 Td (over ) Tj ET Q q 0 0 0 rg BT 294.32 273.70 Td (an ) Tj ET Q q 0 0 0 rg BT 303.57 273.70 Td (extended ) Tj ET Q q 0 0 0 rg BT 334.14 273.70 Td (period ) Tj ET Q q 0 0 0 rg BT 356.28 273.70 Td (of ) Tj ET Q q 0 0 0 rg BT 364.64 273.70 Td (time ) Tj ET Q q 0 0 0 rg BT 380.55 273.70 Td (which ) Tj ET Q q 0 0 0 rg BT 401.80 273.70 Td (could ) Tj ET Q q 0 0 0 rg BT 421.27 273.70 Td (materially ) Tj ET Q q 0 0 0 rg BT 455.39 273.70 Td (change ) Tj ET Q q 0 0 0 rg BT 479.74 273.70 Td (our ) Tj ET Q q 0 0 0 rg BT 492.10 273.70 Td (decision ) Tj ET Q q 0 0 0 rg BT 520.46 273.70 Td (as ) Tj ET Q q 0 0 0 rg BT 528.82 273.70 Td (to ) Tj ET Q q 0 0 0 rg BT 536.74 273.70 Td (whether ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 264.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 70.52 264.10 Td (are ) Tj ET Q q 0 0 0 rg BT 82.64 264.10 Td (impaired. ) Tj ET Q q 0 0 0 rg BT 115.25 264.10 Td (The ) Tj ET Q q 0 0 0 rg BT 130.04 264.10 Td (most ) Tj ET Q q 0 0 0 rg BT 147.96 264.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 184.08 264.10 Td (of ) Tj ET Q q 0 0 0 rg BT 193.10 264.10 Td (these ) Tj ET Q q 0 0 0 rg BT 211.89 264.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 253.80 264.10 Td (include: ) Tj ET Q q 0 0 0 rg BT 281.92 264.10 Td (the ) Tj ET Q q 0 0 0 rg BT 294.05 264.10 Td (discount ) Tj ET Q q 0 0 0 rg BT 323.51 264.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 337.86 264.10 Td (applied, ) Tj ET Q q 0 0 0 rg BT 365.76 264.10 Td (the ) Tj ET Q q 0 0 0 rg BT 377.88 264.10 Td (total ) Tj ET Q q 0 0 0 rg BT 394.46 264.10 Td (advertising ) Tj ET Q q 0 0 0 rg BT 432.36 264.10 Td (market ) Tj ET Q q 0 0 0 rg BT 456.92 264.10 Td (size, ) Tj ET Q q 0 0 0 rg BT 473.71 264.10 Td (achievable ) Tj ET Q q 0 0 0 rg BT 510.26 264.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 531.28 264.10 Td (of ) Tj ET Q q 0 0 0 rg BT 540.29 264.10 Td (market ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 254.50 Td (share, ) Tj ET Q q 0 0 0 rg BT 70.38 254.50 Td (forecast ) Tj ET Q q 0 0 0 rg BT 97.70 254.50 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 122.59 254.50 Td ( ) Tj ET Q q 0 0 0 rg BT 124.59 254.50 Td (and ) Tj ET Q q 0 0 0 rg BT 138.14 254.50 Td (capital ) Tj ET Q q 0 0 0 rg BT 161.46 254.50 Td (expenditure ) Tj ET Q q 0 0 0 rg BT 201.22 254.50 Td (and ) Tj ET Q q 0 0 0 rg BT 214.77 254.50 Td (the ) Tj ET Q q 0 0 0 rg BT 226.54 254.50 Td (rate ) Tj ET Q q 0 0 0 rg BT 240.53 254.50 Td (of ) Tj ET Q q 0 0 0 rg BT 249.20 254.50 Td (growth ) Tj ET Q q 0 0 0 rg BT 273.86 254.50 Td (into ) Tj ET Q q 0 0 0 rg BT 288.30 254.50 Td (perpetuity) Tj ET Q q 0 0 0 rg BT 320.22 254.50 Td (, ) Tj ET Q q 0 0 0 rg BT 324.22 254.50 Td (each ) Tj ET Q q 0 0 0 rg BT 340.87 254.50 Td (described ) Tj ET Q q 0 0 0 rg BT 373.52 254.50 Td (in ) Tj ET Q q 0 0 0 rg BT 381.75 254.50 Td (more ) Tj ET Q q 0 0 0 rg BT 400.18 254.50 Td (detail ) Tj ET Q q 0 0 0 rg BT 419.95 254.50 Td (below:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 238.90 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 238.90 Td (Cost ) Tj ET Q q 0 0 0 rg BT 101.98 238.90 Td (of ) Tj ET Q q 0 0 0 rg BT 110.46 238.90 Td (capital: ) Tj ET Q q 0 0 0 rg BT 135.69 238.90 Td (The ) Tj ET Q q 0 0 0 rg BT 149.94 238.90 Td (cost ) Tj ET Q q 0 0 0 rg BT 164.63 238.90 Td (of ) Tj ET Q q 0 0 0 rg BT 173.11 238.90 Td (capital ) Tj ET Q q 0 0 0 rg BT 196.24 238.90 Td (reflects ) Tj ET Q q 0 0 0 rg BT 221.60 238.90 Td (the ) Tj ET Q q 0 0 0 rg BT 233.18 238.90 Td (return ) Tj ET Q q 0 0 0 rg BT 254.10 238.90 Td (a ) Tj ET Q q 0 0 0 rg BT 259.46 238.90 Td (hypothetical ) Tj ET Q q 0 0 0 rg BT 300.81 238.90 Td (market ) Tj ET Q q 0 0 0 rg BT 324.84 238.90 Td (participant ) Tj ET Q q 0 0 0 rg BT 360.86 238.90 Td (would ) Tj ET Q q 0 0 0 rg BT 382.67 238.90 Td (require ) Tj ET Q q 0 0 0 rg BT 407.13 238.90 Td (for ) Tj ET Q q 0 0 0 rg BT 418.28 238.90 Td (a ) Tj ET Q q 0 0 0 rg BT 423.64 238.90 Td (long-term ) Tj ET Q q 0 0 0 rg BT 457.00 238.90 Td (investment ) Tj ET Q q 0 0 0 rg BT 493.92 238.90 Td (in ) Tj ET Q q 0 0 0 rg BT 501.95 238.90 Td (an ) Tj ET Q q 0 0 0 rg BT 511.31 238.90 Td (asset ) Tj ET Q q 0 0 0 rg BT 528.68 238.90 Td (and ) Tj ET Q q 0 0 0 rg BT 542.04 238.90 Td (can ) Tj ET Q q 0 0 0 rg BT 554.96 238.90 Td (be ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 229.30 Td (viewed ) Tj ET Q q 0 0 0 rg BT 110.18 229.30 Td (as ) Tj ET Q q 0 0 0 rg BT 118.43 229.30 Td (a ) Tj ET Q q 0 0 0 rg BT 123.56 229.30 Td (proxy ) Tj ET Q q 0 0 0 rg BT 143.80 229.30 Td (for ) Tj ET Q q 0 0 0 rg BT 154.71 229.30 Td (the ) Tj ET Q q 0 0 0 rg BT 166.07 229.30 Td (risk ) Tj ET Q q 0 0 0 rg BT 179.65 229.30 Td (of ) Tj ET Q q 0 0 0 rg BT 187.89 229.30 Td (that ) Tj ET Q q 0 0 0 rg BT 201.47 229.30 Td (asset. ) Tj ET Q q 0 0 0 rg BT 220.49 229.30 Td (W) Tj ET Q q 0 0 0 rg BT 227.40 229.30 Td (e ) Tj ET Q q 0 0 0 rg BT 232.53 229.30 Td (calculate ) Tj ET Q q 0 0 0 rg BT 262.53 229.30 Td (the ) Tj ET Q q 0 0 0 rg BT 273.89 229.30 Td (cost ) Tj ET Q q 0 0 0 rg BT 288.36 229.30 Td (of ) Tj ET Q q 0 0 0 rg BT 296.60 229.30 Td (capital ) Tj ET Q q 0 0 0 rg BT 319.50 229.30 Td (according ) Tj ET Q q 0 0 0 rg BT 352.62 229.30 Td (to ) Tj ET Q q 0 0 0 rg BT 360.43 229.30 Td (the ) Tj ET Q q 0 0 0 rg BT 371.78 229.30 Td (Capital ) Tj ET Q q 0 0 0 rg BT 396.12 229.30 Td (Asset ) Tj ET Q q 0 0 0 rg BT 415.48 229.30 Td (Pricing ) Tj ET Q q 0 0 0 rg BT 440.17 229.30 Td (Model ) Tj ET Q q 0 0 0 rg BT 462.64 229.30 Td (using ) Tj ET Q q 0 0 0 rg BT 481.55 229.30 Td (a ) Tj ET Q q 0 0 0 rg BT 486.68 229.30 Td (number ) Tj ET Q q 0 0 0 rg BT 512.70 229.30 Td (of ) Tj ET Q q 0 0 0 rg BT 520.95 229.30 Td (assumptions, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 219.70 Td (the ) Tj ET Q q 0 0 0 rg BT 97.37 219.70 Td (most ) Tj ET Q q 0 0 0 rg BT 115.03 219.70 Td (significant ) Tj ET Q q 0 0 0 rg BT 150.89 219.70 Td (of ) Tj ET Q q 0 0 0 rg BT 159.65 219.70 Td (which ) Tj ET Q q 0 0 0 rg BT 181.30 219.70 Td (is ) Tj ET Q q 0 0 0 rg BT 188.73 219.70 Td (a ) Tj ET Q q 0 0 0 rg BT 194.38 219.70 Td (Country ) Tj ET Q q 0 0 0 rg BT 222.70 219.70 Td (Risk ) Tj ET Q q 0 0 0 rg BT 239.47 219.70 Td (Premium ) Tj ET Q q 0 0 0 rg BT 270.90 219.70 Td (\(CRP\). ) Tj ET Q q 0 0 0 rg BT 302.39 219.70 Td (The ) Tj ET Q q 0 0 0 rg BT 316.93 219.70 Td (CRP) Tj ET Q q 0 0 0 rg BT 331.75 219.70 Td ( ) Tj ET Q q 0 0 0 rg BT 333.85 219.70 Td (reflects ) Tj ET Q q 0 0 0 rg BT 359.48 219.70 Td (the ) Tj ET Q q 0 0 0 rg BT 371.35 219.70 Td (excess ) Tj ET Q q 0 0 0 rg BT 394.33 219.70 Td (risk ) Tj ET Q q 0 0 0 rg BT 408.43 219.70 Td (to ) Tj ET Q q 0 0 0 rg BT 416.75 219.70 Td (an ) Tj ET Q q 0 0 0 rg BT 426.39 219.70 Td (investor ) Tj ET Q q 0 0 0 rg BT 454.26 219.70 Td (of ) Tj ET Q q 0 0 0 rg BT 463.02 219.70 Td (investing ) Tj ET Q q 0 0 0 rg BT 494.45 219.70 Td (in ) Tj ET Q q 0 0 0 rg BT 502.77 219.70 Td (markets ) Tj ET Q q 0 0 0 rg BT 530.19 219.70 Td (other ) Tj ET Q q 0 0 0 rg BT 548.73 219.70 Td (than ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 210.10 Td (the ) Tj ET Q q 0 0 0 rg BT 97.16 210.10 Td (United ) Tj ET Q q 0 0 0 rg BT 120.82 210.10 Td (States ) Tj ET Q q 0 0 0 rg BT 141.82 210.10 Td (and ) Tj ET Q q 0 0 0 rg BT 155.26 210.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 186.91 210.10 Td (fluctuates ) Tj ET Q q 0 0 0 rg BT 219.89 210.10 Td (with ) Tj ET Q q 0 0 0 rg BT 236.00 210.10 Td (expectations ) Tj ET Q q 0 0 0 rg BT 277.88 210.10 Td (of ) Tj ET Q q 0 0 0 rg BT 286.43 210.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 314.08 210.10 Td (in ) Tj ET Q q 0 0 0 rg BT 322.19 210.10 Td (a ) Tj ET Q q 0 0 0 rg BT 327.63 210.10 Td (country's ) Tj ET Q q 0 0 0 rg BT 358.51 210.10 Td (macro-economic ) Tj ET Q q 0 0 0 rg BT 414.15 210.10 Td (environment. ) Tj ET Q q 0 0 0 rg BT 458.33 210.10 Td (The ) Tj ET Q q 0 0 0 rg BT 472.66 210.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 490.54 210.10 Td (of ) Tj ET Q q 0 0 0 rg BT 499.10 210.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 522.30 210.10 Td (that ) Tj ET Q q 0 0 0 rg BT 536.19 210.10 Td (we ) Tj ET Q q 0 0 0 rg BT 547.40 210.10 Td (have ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 200.50 Td (applied ) Tj ET Q q 0 0 0 rg BT 111.13 200.50 Td (to ) Tj ET Q q 0 0 0 rg BT 119.44 200.50 Td (cash ) Tj ET Q q 0 0 0 rg BT 135.73 200.50 Td (flows ) Tj ET Q q 0 0 0 rg BT 155.59 200.50 Td (for ) Tj ET Q q 0 0 0 rg BT 167.00 200.50 Td (our ) Tj ET Q q 0 0 0 rg BT 179.75 200.50 Td (2014 ) Tj ET Q q 0 0 0 rg BT 197.83 200.50 Td (annual ) Tj ET Q q 0 0 0 rg BT 221.24 200.50 Td (impairment ) Tj ET Q q 0 0 0 rg BT 260.20 200.50 Td (test ) Tj ET Q q 0 0 0 rg BT 273.40 200.50 Td (were ) Tj ET Q q 0 0 0 rg BT 291.02 200.50 Td (lower ) Tj ET Q q 0 0 0 rg BT 311.32 200.50 Td (than ) Tj ET Q q 0 0 0 rg BT 327.18 200.50 Td (those ) Tj ET Q q 0 0 0 rg BT 346.15 200.50 Td (we ) Tj ET Q q 0 0 0 rg BT 357.56 200.50 Td (had ) Tj ET Q q 0 0 0 rg BT 371.19 200.50 Td (used ) Tj ET Q q 0 0 0 rg BT 387.94 200.50 Td (in ) Tj ET Q q 0 0 0 rg BT 396.24 200.50 Td (2013 ) Tj ET Q q 0 0 0 rg BT 414.33 200.50 Td (impairment ) Tj ET Q q 0 0 0 rg BT 453.29 200.50 Td (test ) Tj ET Q q 0 0 0 rg BT 466.48 200.50 Td (for ) Tj ET Q q 0 0 0 rg BT 477.89 200.50 Td (all ) Tj ET Q q 0 0 0 rg BT 487.97 200.50 Td (reporting ) Tj ET Q q 0 0 0 rg BT 519.38 200.50 Td (units ) Tj ET Q q 0 0 0 rg BT 537.02 200.50 Td (due ) Tj ET Q q 0 0 0 rg BT 550.65 200.50 Td (to ) Tj ET Q q 0 0 0 rg BT 558.96 200.50 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 190.90 Td (decline ) Tj ET Q q 0 0 0 rg BT 110.60 190.90 Td (in ) Tj ET Q q 0 0 0 rg BT 118.82 190.90 Td (the ) Tj ET Q q 0 0 0 rg BT 130.59 190.90 Td (relevant ) Tj ET Q q 0 0 0 rg BT 158.36 190.90 Td (risk-free ) Tj ET Q q 0 0 0 rg BT 187.45 190.90 Td (rate, ) Tj ET Q q 0 0 0 rg BT 203.44 190.90 Td (lower ) Tj ET Q q 0 0 0 rg BT 223.65 190.90 Td (cost ) Tj ET Q q 0 0 0 rg BT 238.54 190.90 Td (of ) Tj ET Q q 0 0 0 rg BT 247.20 190.90 Td (debt ) Tj ET Q q 0 0 0 rg BT 262.98 190.90 Td (based ) Tj ET Q q 0 0 0 rg BT 283.19 190.90 Td (on ) Tj ET Q q 0 0 0 rg BT 293.19 190.90 Td (analysis ) Tj ET Q q 0 0 0 rg BT 320.96 190.90 Td (of ) Tj ET Q q 0 0 0 rg BT 329.63 190.90 Td (the ) Tj ET Q q 0 0 0 rg BT 341.40 190.90 Td (yields ) Tj ET Q q 0 0 0 rg BT 362.51 190.90 Td (on ) Tj ET Q q 0 0 0 rg BT 372.51 190.90 Td (comparable ) Tj ET Q q 0 0 0 rg BT 411.82 190.90 Td (corporate ) Tj ET Q q 0 0 0 rg BT 444.03 190.90 Td (bonds ) Tj ET Q q 0 0 0 rg BT 465.14 190.90 Td (and ) Tj ET Q q 0 0 0 rg BT 478.69 190.90 Td (decreases ) Tj ET Q q 0 0 0 rg BT 511.34 190.90 Td (in ) Tj ET Q q 0 0 0 rg BT 519.56 190.90 Td (the ) Tj ET Q q 0 0 0 rg BT 531.33 190.90 Td (CRP) Tj ET Q q 0 0 0 rg BT 545.57 190.90 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 175.30 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 175.30 Td (T) Tj ET Q q 0 0 0 rg BT 89.83 175.30 Td (otal ) Tj ET Q q 0 0 0 rg BT 104.08 175.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 141.88 175.30 Td (market: ) Tj ET Q q 0 0 0 rg BT 168.41 175.30 Td (The ) Tj ET Q q 0 0 0 rg BT 183.10 175.30 Td (size ) Tj ET Q q 0 0 0 rg BT 197.79 175.30 Td (of ) Tj ET Q q 0 0 0 rg BT 206.71 175.30 Td (the ) Tj ET Q q 0 0 0 rg BT 218.74 175.30 Td (television ) Tj ET Q q 0 0 0 rg BT 252.10 175.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 289.90 175.30 Td (market ) Tj ET Q q 0 0 0 rg BT 314.37 175.30 Td (ef) Tj ET Q q 0 0 0 rg BT 320.44 175.30 Td (fectively ) Tj ET Q q 0 0 0 rg BT 350.68 175.30 Td (places ) Tj ET Q q 0 0 0 rg BT 372.92 175.30 Td (an ) Tj ET Q q 0 0 0 rg BT 382.72 175.30 Td (upper ) Tj ET Q q 0 0 0 rg BT 403.19 175.30 Td (limit ) Tj ET Q q 0 0 0 rg BT 420.56 175.30 Td (on ) Tj ET Q q 0 0 0 rg BT 430.82 175.30 Td (the ) Tj ET Q q 0 0 0 rg BT 442.85 175.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 480.65 175.30 Td (revenue ) Tj ET Q q 0 0 0 rg BT 508.22 175.30 Td (we ) Tj ET Q q 0 0 0 rg BT 519.80 175.30 Td (can ) Tj ET Q q 0 0 0 rg BT 533.16 175.30 Td (expect ) Tj ET Q q 0 0 0 rg BT 556.29 175.30 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 165.70 Td (earn ) Tj ET Q q 0 0 0 rg BT 101.52 165.70 Td (in ) Tj ET Q q 0 0 0 rg BT 110.00 165.70 Td (each ) Tj ET Q q 0 0 0 rg BT 126.91 165.70 Td (country) Tj ET Q q 0 0 0 rg BT 150.82 165.70 Td (. ) Tj ET Q q 0 0 0 rg BT 155.08 165.70 Td (Our ) Tj ET Q q 0 0 0 rg BT 169.77 165.70 Td (estimate ) Tj ET Q q 0 0 0 rg BT 198.69 165.70 Td (of ) Tj ET Q q 0 0 0 rg BT 207.60 165.70 Td (the ) Tj ET Q q 0 0 0 rg BT 219.63 165.70 Td (total ) Tj ET Q q 0 0 0 rg BT 236.11 165.70 Td (advertising ) Tj ET Q q 0 0 0 rg BT 273.91 165.70 Td (market ) Tj ET Q q 0 0 0 rg BT 298.37 165.70 Td (is ) Tj ET Q q 0 0 0 rg BT 305.96 165.70 Td (developed ) Tj ET Q q 0 0 0 rg BT 341.09 165.70 Td (from ) Tj ET Q q 0 0 0 rg BT 358.90 165.70 Td (a ) Tj ET Q q 0 0 0 rg BT 364.71 165.70 Td (number ) Tj ET Q q 0 0 0 rg BT 391.40 165.70 Td (of ) Tj ET Q q 0 0 0 rg BT 400.32 165.70 Td (external ) Tj ET Q q 0 0 0 rg BT 428.33 165.70 Td (sources, ) Tj ET Q q 0 0 0 rg BT 456.58 165.70 Td (in ) Tj ET Q q 0 0 0 rg BT 465.06 165.70 Td (combination ) Tj ET Q q 0 0 0 rg BT 507.31 165.70 Td (with ) Tj ET Q q 0 0 0 rg BT 523.78 165.70 Td (a ) Tj ET Q q 0 0 0 rg BT 529.59 165.70 Td (process ) Tj ET Q q 0 0 0 rg BT 555.84 165.70 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 156.10 Td (on-going ) Tj ET Q q 0 0 0 rg BT 116.51 156.10 Td (consultation ) Tj ET Q q 0 0 0 rg BT 157.74 156.10 Td (with ) Tj ET Q q 0 0 0 rg BT 174.09 156.10 Td (local ) Tj ET Q q 0 0 0 rg BT 191.76 156.10 Td (management. ) Tj ET Q q 0 0 0 rg BT 236.75 156.10 Td (In ) Tj ET Q q 0 0 0 rg BT 245.54 156.10 Td (our ) Tj ET Q q 0 0 0 rg BT 258.33 156.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 281.78 156.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 320.78 156.10 Td (review ) Tj ET Q q 0 0 0 rg BT 344.67 156.10 Td (performed ) Tj ET Q q 0 0 0 rg BT 380.11 156.10 Td (in ) Tj ET Q q 0 0 0 rg BT 388.46 156.10 Td (the ) Tj ET Q q 0 0 0 rg BT 400.35 156.10 Td (fourth ) Tj ET Q q 0 0 0 rg BT 422.03 156.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 446.81 156.10 Td (of ) Tj ET Q q 0 0 0 rg BT 455.59 156.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 475.72 156.10 Td (we ) Tj ET Q q 0 0 0 rg BT 487.17 156.10 Td (decreased ) Tj ET Q q 0 0 0 rg BT 520.83 156.10 Td (our ) Tj ET Q q 0 0 0 rg BT 533.61 156.10 Td (medium- ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 146.50 Td (and ) Tj ET Q q 0 0 0 rg BT 98.79 146.50 Td (long-term ) Tj ET Q q 0 0 0 rg BT 132.08 146.50 Td (view ) Tj ET Q q 0 0 0 rg BT 149.37 146.50 Td (of ) Tj ET Q q 0 0 0 rg BT 157.77 146.50 Td (the ) Tj ET Q q 0 0 0 rg BT 169.28 146.50 Td (size ) Tj ET Q q 0 0 0 rg BT 183.46 146.50 Td (of ) Tj ET Q q 0 0 0 rg BT 191.86 146.50 Td (the ) Tj ET Q q 0 0 0 rg BT 203.38 146.50 Td (television ) Tj ET Q q 0 0 0 rg BT 236.22 146.50 Td (advertising ) Tj ET Q q 0 0 0 rg BT 273.51 146.50 Td (markets ) Tj ET Q q 0 0 0 rg BT 300.57 146.50 Td (based ) Tj ET Q q 0 0 0 rg BT 320.52 146.50 Td (on ) Tj ET Q q 0 0 0 rg BT 330.26 146.50 Td (management's ) Tj ET Q q 0 0 0 rg BT 377.43 146.50 Td (estimate ) Tj ET Q q 0 0 0 rg BT 405.82 146.50 Td (of ) Tj ET Q q 0 0 0 rg BT 414.23 146.50 Td (the ) Tj ET Q q 0 0 0 rg BT 425.74 146.50 Td (timing ) Tj ET Q q 0 0 0 rg BT 448.37 146.50 Td (and ) Tj ET Q q 0 0 0 rg BT 461.66 146.50 Td (strength ) Tj ET Q q 0 0 0 rg BT 489.17 146.50 Td (of ) Tj ET Q q 0 0 0 rg BT 497.58 146.50 Td (the ) Tj ET Q q 0 0 0 rg BT 509.09 146.50 Td (market ) Tj ET Q q 0 0 0 rg BT 533.04 146.50 Td (recovery) Tj ET Q q 0 0 0 rg BT 560.50 146.50 Td (. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 130.90 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 130.90 Td (Market ) Tj ET Q q 0 0 0 rg BT 110.70 130.90 Td (share: ) Tj ET Q q 0 0 0 rg BT 131.76 130.90 Td (This ) Tj ET Q q 0 0 0 rg BT 148.08 130.90 Td (is ) Tj ET Q q 0 0 0 rg BT 155.52 130.90 Td (a ) Tj ET Q q 0 0 0 rg BT 161.17 130.90 Td (function ) Tj ET Q q 0 0 0 rg BT 189.94 130.90 Td (of ) Tj ET Q q 0 0 0 rg BT 198.70 130.90 Td (the ) Tj ET Q q 0 0 0 rg BT 210.58 130.90 Td (audience ) Tj ET Q q 0 0 0 rg BT 241.11 130.90 Td (share ) Tj ET Q q 0 0 0 rg BT 260.09 130.90 Td (we ) Tj ET Q q 0 0 0 rg BT 271.52 130.90 Td (expect ) Tj ET Q q 0 0 0 rg BT 294.50 130.90 Td (our ) Tj ET Q q 0 0 0 rg BT 307.26 130.90 Td (stations ) Tj ET Q q 0 0 0 rg BT 333.81 130.90 Td (to ) Tj ET Q q 0 0 0 rg BT 342.14 130.90 Td (generate, ) Tj ET Q q 0 0 0 rg BT 373.33 130.90 Td (and ) Tj ET Q q 0 0 0 rg BT 386.98 130.90 Td (the ) Tj ET Q q 0 0 0 rg BT 398.86 130.90 Td (relative ) Tj ET Q q 0 0 0 rg BT 424.94 130.90 Td (price ) Tj ET Q q 0 0 0 rg BT 443.04 130.90 Td (at ) Tj ET Q q 0 0 0 rg BT 450.91 130.90 Td (which ) Tj ET Q q 0 0 0 rg BT 472.56 130.90 Td (we ) Tj ET Q q 0 0 0 rg BT 484.00 130.90 Td (can ) Tj ET Q q 0 0 0 rg BT 497.20 130.90 Td (sell ) Tj ET Q q 0 0 0 rg BT 510.41 130.90 Td (advertising. ) Tj ET Q q 0 0 0 rg BT 550.06 130.90 Td (Our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 121.30 Td (estimates ) Tj ET Q q 0 0 0 rg BT 117.29 121.30 Td (of ) Tj ET Q q 0 0 0 rg BT 125.97 121.30 Td (the ) Tj ET Q q 0 0 0 rg BT 137.77 121.30 Td (total ) Tj ET Q q 0 0 0 rg BT 154.01 121.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 191.58 121.30 Td (market ) Tj ET Q q 0 0 0 rg BT 215.81 121.30 Td (and ) Tj ET Q q 0 0 0 rg BT 229.38 121.30 Td (our ) Tj ET Q q 0 0 0 rg BT 242.06 121.30 Td (share ) Tj ET Q q 0 0 0 rg BT 260.96 121.30 Td (of ) Tj ET Q q 0 0 0 rg BT 269.65 121.30 Td (the ) Tj ET Q q 0 0 0 rg BT 281.44 121.30 Td (market ) Tj ET Q q 0 0 0 rg BT 305.67 121.30 Td (are ) Tj ET Q q 0 0 0 rg BT 317.46 121.30 Td (developed ) Tj ET Q q 0 0 0 rg BT 352.35 121.30 Td (from ) Tj ET Q q 0 0 0 rg BT 369.92 121.30 Td (a ) Tj ET Q q 0 0 0 rg BT 375.50 121.30 Td (number ) Tj ET Q q 0 0 0 rg BT 401.95 121.30 Td (of ) Tj ET Q q 0 0 0 rg BT 410.64 121.30 Td (external ) Tj ET Q q 0 0 0 rg BT 438.42 121.30 Td (sources, ) Tj ET Q q 0 0 0 rg BT 466.43 121.30 Td (in ) Tj ET Q q 0 0 0 rg BT 474.68 121.30 Td (combination ) Tj ET Q q 0 0 0 rg BT 516.69 121.30 Td (with ) Tj ET Q q 0 0 0 rg BT 532.93 121.30 Td (a ) Tj ET Q q 0 0 0 rg BT 538.50 121.30 Td (process ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 111.70 Td (of ) Tj ET Q q 0 0 0 rg BT 94.16 111.70 Td (on-going ) Tj ET Q q 0 0 0 rg BT 125.05 111.70 Td (consultation ) Tj ET Q q 0 0 0 rg BT 166.16 111.70 Td (with ) Tj ET Q q 0 0 0 rg BT 182.38 111.70 Td (local ) Tj ET Q q 0 0 0 rg BT 199.93 111.70 Td (management.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 96.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 96.10 Td (Forecast ) Tj ET Q q 0 0 0 rg BT 114.17 96.10 Td (OIBDA: ) Tj ET Q q 0 0 0 rg BT 143.17 96.10 Td (The ) Tj ET Q q 0 0 0 rg BT 157.17 96.10 Td (level ) Tj ET Q q 0 0 0 rg BT 174.28 96.10 Td (of ) Tj ET Q q 0 0 0 rg BT 182.51 96.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 198.29 96.10 Td (flow ) Tj ET Q q 0 0 0 rg BT 214.52 96.10 Td (generated ) Tj ET Q q 0 0 0 rg BT 247.17 96.10 Td (by ) Tj ET Q q 0 0 0 rg BT 256.73 96.10 Td (each ) Tj ET Q q 0 0 0 rg BT 272.95 96.10 Td (operation ) Tj ET Q q 0 0 0 rg BT 304.72 96.10 Td (is ) Tj ET Q q 0 0 0 rg BT 311.62 96.10 Td (ultimately ) Tj ET Q q 0 0 0 rg BT 345.62 96.10 Td (governed ) Tj ET Q q 0 0 0 rg BT 376.95 96.10 Td (by ) Tj ET Q q 0 0 0 rg BT 386.52 96.10 Td (the ) Tj ET Q q 0 0 0 rg BT 397.85 96.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 418.96 96.10 Td (to ) Tj ET Q q 0 0 0 rg BT 426.75 96.10 Td (which ) Tj ET Q q 0 0 0 rg BT 447.86 96.10 Td (we ) Tj ET Q q 0 0 0 rg BT 458.75 96.10 Td (manage ) Tj ET Q q 0 0 0 rg BT 485.19 96.10 Td (the ) Tj ET Q q 0 0 0 rg BT 496.53 96.10 Td (relationship ) Tj ET Q q 0 0 0 rg BT 535.86 96.10 Td (between ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 86.50 Td (revenues ) Tj ET Q q 0 0 0 rg BT 116.01 86.50 Td (and ) Tj ET Q q 0 0 0 rg BT 129.64 86.50 Td (costs. ) Tj ET Q q 0 0 0 rg BT 149.57 86.50 Td (W) Tj ET Q q 0 0 0 rg BT 156.48 86.50 Td (e ) Tj ET Q q 0 0 0 rg BT 162.11 86.50 Td (forecast ) Tj ET Q q 0 0 0 rg BT 189.50 86.50 Td (the ) Tj ET Q q 0 0 0 rg BT 201.36 86.50 Td (level ) Tj ET Q q 0 0 0 rg BT 218.98 86.50 Td (of ) Tj ET Q q 0 0 0 rg BT 227.72 86.50 Td (operating ) Tj ET Q q 0 0 0 rg BT 260.01 86.50 Td (costs ) Tj ET Q q 0 0 0 rg BT 278.09 86.50 Td (by ) Tj ET Q q 0 0 0 rg BT 288.17 86.50 Td (reference ) Tj ET Q q 0 0 0 rg BT 320.00 86.50 Td (to ) Tj ET Q q 0 0 0 rg BT 328.30 86.50 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 339.26 86.50 Td (the ) Tj ET Q q 0 0 0 rg BT 351.11 86.50 Td (historical ) Tj ET Q q 0 0 0 rg BT 382.96 86.50 Td (absolute ) Tj ET Q q 0 0 0 rg BT 411.70 86.50 Td (and ) Tj ET Q q 0 0 0 rg BT 425.33 86.50 Td (relative ) Tj ET Q q 0 0 0 rg BT 451.39 86.50 Td (levels ) Tj ET Q q 0 0 0 rg BT 472.13 86.50 Td (of ) Tj ET Q q 0 0 0 rg BT 480.87 86.50 Td (costs ) Tj ET Q q 0 0 0 rg BT 498.95 86.50 Td (we ) Tj ET Q q 0 0 0 rg BT 510.36 86.50 Td (have ) Tj ET Q q 0 0 0 rg BT 527.54 86.50 Td (incurred ) Tj ET Q q 0 0 0 rg BT 556.27 86.50 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 76.90 Td (generating ) Tj ET Q q 0 0 0 rg BT 120.59 76.90 Td (revenue ) Tj ET Q q 0 0 0 rg BT 147.23 76.90 Td (in ) Tj ET Q q 0 0 0 rg BT 154.78 76.90 Td (each ) Tj ET Q q 0 0 0 rg BT 170.76 76.90 Td (reporting ) Tj ET Q q 0 0 0 rg BT 201.41 76.90 Td (unit, ) Tj ET Q q 0 0 0 rg BT 217.19 76.90 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 227.84 76.90 Td (the ) Tj ET Q q 0 0 0 rg BT 238.94 76.90 Td (operating ) Tj ET Q q 0 0 0 rg BT 270.48 76.90 Td (strategy ) Tj ET Q q 0 0 0 rg BT 297.13 76.90 Td (of ) Tj ET Q q 0 0 0 rg BT 305.12 76.90 Td (each ) Tj ET Q q 0 0 0 rg BT 321.10 76.90 Td (business ) Tj ET Q q 0 0 0 rg BT 349.54 76.90 Td (and ) Tj ET Q q 0 0 0 rg BT 362.42 76.90 Td (\(c\) ) Tj ET Q q 0 0 0 rg BT 372.63 76.90 Td (specific ) Tj ET Q q 0 0 0 rg BT 398.83 76.90 Td (forecast ) Tj ET Q q 0 0 0 rg BT 425.47 76.90 Td (costs ) Tj ET Q q 0 0 0 rg BT 442.80 76.90 Td (to ) Tj ET Q q 0 0 0 rg BT 450.35 76.90 Td (be ) Tj ET Q q 0 0 0 rg BT 459.23 76.90 Td (incurred. ) Tj ET Q q 0 0 0 rg BT 489.21 76.90 Td (Our ) Tj ET Q q 0 0 0 rg BT 502.97 76.90 Td (annual ) Tj ET Q q 0 0 0 rg BT 525.63 76.90 Td (impairment ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 67.30 Td (review ) Tj ET Q q 0 0 0 rg BT 109.27 67.30 Td (includes ) Tj ET Q q 0 0 0 rg BT 137.93 67.30 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 179.48 67.30 Td (to ) Tj ET Q q 0 0 0 rg BT 187.71 67.30 Td (reflect ) Tj ET Q q 0 0 0 rg BT 210.13 67.30 Td (benefits ) Tj ET Q q 0 0 0 rg BT 237.46 67.30 Td (of ) Tj ET Q q 0 0 0 rg BT 246.12 67.30 Td (cost ) Tj ET Q q 0 0 0 rg BT 261.01 67.30 Td (control ) Tj ET Q q 0 0 0 rg BT 285.67 67.30 Td (measures ) Tj ET Q q 0 0 0 rg BT 317.43 67.30 Td (taken ) Tj ET Q q 0 0 0 rg BT 336.76 67.30 Td (to ) Tj ET Q q 0 0 0 rg BT 344.98 67.30 Td (date, ) Tj ET Q q 0 0 0 rg BT 362.30 67.30 Td (and ) Tj ET Q q 0 0 0 rg BT 375.86 67.30 Td (contemplated ) Tj ET Q q 0 0 0 rg BT 420.95 67.30 Td (further ) Tj ET Q q 0 0 0 rg BT 444.71 67.30 Td (cost ) Tj ET Q q 0 0 0 rg BT 459.60 67.30 Td (control ) Tj ET Q q 0 0 0 rg BT 484.26 67.30 Td (ef) Tj ET Q q 0 0 0 rg BT 490.33 67.30 Td (forts.) Tj ET Q endstream endobj 83 0 obj <>] /Rotate 0 /Contents 84 0 R>> endobj 84 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (39) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 723.50 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 723.50 Td (Forecast ) Tj ET Q q 0 0 0 rg BT 114.61 723.50 Td (capital ) Tj ET Q q 0 0 0 rg BT 137.94 723.50 Td (expenditure: ) Tj ET Q q 0 0 0 rg BT 179.79 723.50 Td (The ) Tj ET Q q 0 0 0 rg BT 194.24 723.50 Td (size ) Tj ET Q q 0 0 0 rg BT 208.69 723.50 Td (and ) Tj ET Q q 0 0 0 rg BT 222.25 723.50 Td (phasing ) Tj ET Q q 0 0 0 rg BT 249.15 723.50 Td (of ) Tj ET Q q 0 0 0 rg BT 257.82 723.50 Td (capital ) Tj ET Q q 0 0 0 rg BT 281.15 723.50 Td (expenditure, ) Tj ET Q q 0 0 0 rg BT 322.93 723.50 Td (both ) Tj ET Q q 0 0 0 rg BT 339.16 723.50 Td (recurring ) Tj ET Q q 0 0 0 rg BT 370.49 723.50 Td (expenditure ) Tj ET Q q 0 0 0 rg BT 410.26 723.50 Td (to ) Tj ET Q q 0 0 0 rg BT 418.49 723.50 Td (replace ) Tj ET Q q 0 0 0 rg BT 443.59 723.50 Td (retired ) Tj ET Q q 0 0 0 rg BT 466.48 723.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 487.15 723.50 Td (and ) Tj ET Q q 0 0 0 rg BT 500.72 723.50 Td (investments ) Tj ET Q q 0 0 0 rg BT 540.95 723.50 Td (in ) Tj ET Q q 0 0 0 rg BT 549.18 723.50 Td (new ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 713.90 Td (projects, ) Tj ET Q q 0 0 0 rg BT 115.16 713.90 Td (has ) Tj ET Q q 0 0 0 rg BT 128.16 713.90 Td (a ) Tj ET Q q 0 0 0 rg BT 134.04 713.90 Td (significant ) Tj ET Q q 0 0 0 rg BT 170.14 713.90 Td (impact ) Tj ET Q q 0 0 0 rg BT 194.25 713.90 Td (on ) Tj ET Q q 0 0 0 rg BT 204.58 713.90 Td (cash ) Tj ET Q q 0 0 0 rg BT 221.13 713.90 Td (flows. ) Tj ET Q q 0 0 0 rg BT 243.07 713.90 Td (W) Tj ET Q q 0 0 0 rg BT 249.98 713.90 Td (e ) Tj ET Q q 0 0 0 rg BT 255.87 713.90 Td (forecast ) Tj ET Q q 0 0 0 rg BT 283.52 713.90 Td (the ) Tj ET Q q 0 0 0 rg BT 295.63 713.90 Td (level ) Tj ET Q q 0 0 0 rg BT 313.51 713.90 Td (of ) Tj ET Q q 0 0 0 rg BT 322.51 713.90 Td (future ) Tj ET Q q 0 0 0 rg BT 343.94 713.90 Td (capital ) Tj ET Q q 0 0 0 rg BT 367.60 713.90 Td (expenditure ) Tj ET Q q 0 0 0 rg BT 407.69 713.90 Td (based ) Tj ET Q q 0 0 0 rg BT 428.24 713.90 Td (on ) Tj ET Q q 0 0 0 rg BT 438.57 713.90 Td (current ) Tj ET Q q 0 0 0 rg BT 463.56 713.90 Td (strategies ) Tj ET Q q 0 0 0 rg BT 496.10 713.90 Td (and ) Tj ET Q q 0 0 0 rg BT 509.99 713.90 Td (specific ) Tj ET Q q 0 0 0 rg BT 537.20 713.90 Td (forecast ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 704.30 Td (costs ) Tj ET Q q 0 0 0 rg BT 104.01 704.30 Td (to ) Tj ET Q q 0 0 0 rg BT 112.74 704.30 Td (be ) Tj ET Q q 0 0 0 rg BT 122.80 704.30 Td (incurred. ) Tj ET Q q 0 0 0 rg BT 153.96 704.30 Td (In ) Tj ET Q q 0 0 0 rg BT 163.14 704.30 Td (line ) Tj ET Q q 0 0 0 rg BT 177.64 704.30 Td (with ) Tj ET Q q 0 0 0 rg BT 194.38 704.30 Td (our ) Tj ET Q q 0 0 0 rg BT 207.55 704.30 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 236.28 704.30 Td (ef) Tj ET Q q 0 0 0 rg BT 242.35 704.30 Td (forts ) Tj ET Q q 0 0 0 rg BT 259.53 704.30 Td (to ) Tj ET Q q 0 0 0 rg BT 268.26 704.30 Td (protect ) Tj ET Q q 0 0 0 rg BT 292.98 704.30 Td (our ) Tj ET Q q 0 0 0 rg BT 306.15 704.30 Td (operating ) Tj ET Q q 0 0 0 rg BT 338.88 704.30 Td (mar) Tj ET Q q 0 0 0 rg BT 351.17 704.30 Td (gins, ) Tj ET Q q 0 0 0 rg BT 369.01 704.30 Td (the ) Tj ET Q q 0 0 0 rg BT 381.30 704.30 Td (absolute ) Tj ET Q q 0 0 0 rg BT 410.47 704.30 Td (levels ) Tj ET Q q 0 0 0 rg BT 431.64 704.30 Td (of ) Tj ET Q q 0 0 0 rg BT 440.81 704.30 Td (capital ) Tj ET Q q 0 0 0 rg BT 464.64 704.30 Td (expenditure ) Tj ET Q q 0 0 0 rg BT 504.91 704.30 Td (forecast ) Tj ET Q q 0 0 0 rg BT 532.74 704.30 Td (remained ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 694.70 Td (broadly ) Tj ET Q q 0 0 0 rg BT 111.94 694.70 Td (consistent ) Tj ET Q q 0 0 0 rg BT 145.93 694.70 Td (with ) Tj ET Q q 0 0 0 rg BT 162.16 694.70 Td (the ) Tj ET Q q 0 0 0 rg BT 173.93 694.70 Td (prior ) Tj ET Q q 0 0 0 rg BT 191.48 694.70 Td (year ) Tj ET Q q 0 0 0 rg BT 207.25 694.70 Td (impairment ) Tj ET Q q 0 0 0 rg BT 246.13 694.70 Td (reviews.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 679.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 679.10 Td (Growth ) Tj ET Q q 0 0 0 rg BT 111.75 679.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 125.55 679.10 Td (into ) Tj ET Q q 0 0 0 rg BT 139.81 679.10 Td (perpetuity: ) Tj ET Q q 0 0 0 rg BT 176.15 679.10 Td (This ) Tj ET Q q 0 0 0 rg BT 192.18 679.10 Td (reflects ) Tj ET Q q 0 0 0 rg BT 217.53 679.10 Td (the ) Tj ET Q q 0 0 0 rg BT 229.12 679.10 Td (level ) Tj ET Q q 0 0 0 rg BT 246.47 679.10 Td (of ) Tj ET Q q 0 0 0 rg BT 254.95 679.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 287.86 679.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 312.33 679.10 Td (in ) Tj ET Q q 0 0 0 rg BT 320.37 679.10 Td (each ) Tj ET Q q 0 0 0 rg BT 336.83 679.10 Td (of ) Tj ET Q q 0 0 0 rg BT 345.31 679.10 Td (our ) Tj ET Q q 0 0 0 rg BT 357.78 679.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 384.92 679.10 Td (from ) Tj ET Q q 0 0 0 rg BT 402.28 679.10 Td (the ) Tj ET Q q 0 0 0 rg BT 413.87 679.10 Td (last ) Tj ET Q q 0 0 0 rg BT 426.79 679.10 Td (forecasted ) Tj ET Q q 0 0 0 rg BT 461.47 679.10 Td (period ) Tj ET Q q 0 0 0 rg BT 483.72 679.10 Td (into ) Tj ET Q q 0 0 0 rg BT 497.97 679.10 Td (perpetuity ) Tj ET Q q 0 0 0 rg BT 532.22 679.10 Td (and ) Tj ET Q q 0 0 0 rg BT 545.58 679.10 Td (is ) Tj ET Q q 0 0 0 rg BT 552.73 679.10 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 669.50 Td (sum ) Tj ET Q q 0 0 0 rg BT 100.23 669.50 Td (of ) Tj ET Q q 0 0 0 rg BT 108.29 669.50 Td (an ) Tj ET Q q 0 0 0 rg BT 117.24 669.50 Td (estimated ) Tj ET Q q 0 0 0 rg BT 149.29 669.50 Td (real ) Tj ET Q q 0 0 0 rg BT 162.68 669.50 Td (growth ) Tj ET Q q 0 0 0 rg BT 186.74 669.50 Td (rate, ) Tj ET Q q 0 0 0 rg BT 202.12 669.50 Td (which ) Tj ET Q q 0 0 0 rg BT 223.07 669.50 Td (reflects ) Tj ET Q q 0 0 0 rg BT 248.01 669.50 Td (our ) Tj ET Q q 0 0 0 rg BT 260.07 669.50 Td (belief ) Tj ET Q q 0 0 0 rg BT 279.67 669.50 Td (that ) Tj ET Q q 0 0 0 rg BT 293.07 669.50 Td (macro-economic ) Tj ET Q q 0 0 0 rg BT 348.21 669.50 Td (growth ) Tj ET Q q 0 0 0 rg BT 372.27 669.50 Td (in ) Tj ET Q q 0 0 0 rg BT 379.89 669.50 Td (our ) Tj ET Q q 0 0 0 rg BT 391.95 669.50 Td (markets ) Tj ET Q q 0 0 0 rg BT 418.67 669.50 Td (will ) Tj ET Q q 0 0 0 rg BT 432.52 669.50 Td (ultimately ) Tj ET Q q 0 0 0 rg BT 466.35 669.50 Td (conver) Tj ET Q q 0 0 0 rg BT 487.97 669.50 Td (ge ) Tj ET Q q 0 0 0 rg BT 496.92 669.50 Td (to ) Tj ET Q q 0 0 0 rg BT 504.44 669.50 Td (W) Tj ET Q q 0 0 0 rg BT 511.35 669.50 Td (estern ) Tj ET Q q 0 0 0 rg BT 531.84 669.50 Td (European ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 659.90 Td (markets, ) Tj ET Q q 0 0 0 rg BT 114.74 659.90 Td (and ) Tj ET Q q 0 0 0 rg BT 128.20 659.90 Td (long-term ) Tj ET Q q 0 0 0 rg BT 161.66 659.90 Td (expectations ) Tj ET Q q 0 0 0 rg BT 203.55 659.90 Td (for ) Tj ET Q q 0 0 0 rg BT 214.79 659.90 Td (inflation. ) Tj ET Q q 0 0 0 rg BT 245.81 659.90 Td (Our ) Tj ET Q q 0 0 0 rg BT 260.16 659.90 Td (estimates ) Tj ET Q q 0 0 0 rg BT 291.84 659.90 Td (of ) Tj ET Q q 0 0 0 rg BT 300.42 659.90 Td (these ) Tj ET Q q 0 0 0 rg BT 318.76 659.90 Td (rates ) Tj ET Q q 0 0 0 rg BT 335.78 659.90 Td (are ) Tj ET Q q 0 0 0 rg BT 347.45 659.90 Td (based ) Tj ET Q q 0 0 0 rg BT 367.58 659.90 Td (on ) Tj ET Q q 0 0 0 rg BT 377.49 659.90 Td (observable ) Tj ET Q q 0 0 0 rg BT 414.05 659.90 Td (market ) Tj ET Q q 0 0 0 rg BT 438.18 659.90 Td (data ) Tj ET Q q 0 0 0 rg BT 453.41 659.90 Td (and ) Tj ET Q q 0 0 0 rg BT 466.87 659.90 Td (have ) Tj ET Q q 0 0 0 rg BT 483.89 659.90 Td (declined ) Tj ET Q q 0 0 0 rg BT 512.89 659.90 Td (slightly ) Tj ET Q q 0 0 0 rg BT 538.81 659.90 Td (in ) Tj ET Q q 0 0 0 rg BT 546.94 659.90 Td (most ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 650.30 Td (of ) Tj ET Q q 0 0 0 rg BT 94.16 650.30 Td (our ) Tj ET Q q 0 0 0 rg BT 106.83 650.30 Td (operating ) Tj ET Q q 0 0 0 rg BT 139.04 650.30 Td (countries ) Tj ET Q q 0 0 0 rg BT 170.36 650.30 Td (since ) Tj ET Q q 0 0 0 rg BT 188.80 650.30 Td (our ) Tj ET Q q 0 0 0 rg BT 201.46 650.30 Td (2013 ) Tj ET Q q 0 0 0 rg BT 219.46 650.30 Td (annual ) Tj ET Q q 0 0 0 rg BT 242.79 650.30 Td (impairment ) Tj ET Q q 0 0 0 rg BT 281.67 650.30 Td (test.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 634.70 Td (Upon ) Tj ET Q q 0 0 0 rg BT 68.85 634.70 Td (conclusion ) Tj ET Q q 0 0 0 rg BT 105.08 634.70 Td (of ) Tj ET Q q 0 0 0 rg BT 113.31 634.70 Td (our ) Tj ET Q q 0 0 0 rg BT 125.54 634.70 Td (2014 ) Tj ET Q q 0 0 0 rg BT 143.11 634.70 Td (annual ) Tj ET Q q 0 0 0 rg BT 166.01 634.70 Td (review) Tj ET Q q 0 0 0 rg BT 187.25 634.70 Td (, ) Tj ET Q q 0 0 0 rg BT 190.82 634.70 Td (we ) Tj ET Q q 0 0 0 rg BT 201.72 634.70 Td (determined ) Tj ET Q q 0 0 0 rg BT 239.27 634.70 Td (that ) Tj ET Q q 0 0 0 rg BT 252.84 634.70 Td (the ) Tj ET Q q 0 0 0 rg BT 264.18 634.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 276.85 634.70 Td (values ) Tj ET Q q 0 0 0 rg BT 298.86 634.70 Td (of ) Tj ET Q q 0 0 0 rg BT 307.09 634.70 Td (our ) Tj ET Q q 0 0 0 rg BT 319.33 634.70 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 349.34 634.70 Td (and ) Tj ET Q q 0 0 0 rg BT 362.46 634.70 Td (intangible ) Tj ET Q q 0 0 0 rg BT 396.02 634.70 Td (assets ) Tj ET Q q 0 0 0 rg BT 416.25 634.70 Td (were ) Tj ET Q q 0 0 0 rg BT 433.37 634.70 Td (substantially ) Tj ET Q q 0 0 0 rg BT 475.38 634.70 Td (in ) Tj ET Q q 0 0 0 rg BT 483.17 634.70 Td (excess ) Tj ET Q q 0 0 0 rg BT 505.62 634.70 Td (of ) Tj ET Q q 0 0 0 rg BT 513.85 634.70 Td (their ) Tj ET Q q 0 0 0 rg BT 530.08 634.70 Td (respective ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 625.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 78.38 625.10 Td (values. ) Tj ET Q q 0 0 0 rg BT 102.89 625.10 Td (The ) Tj ET Q q 0 0 0 rg BT 117.56 625.10 Td (table ) Tj ET Q q 0 0 0 rg BT 135.33 625.10 Td (below ) Tj ET Q q 0 0 0 rg BT 157.12 625.10 Td (shows ) Tj ET Q q 0 0 0 rg BT 179.35 625.10 Td (the ) Tj ET Q q 0 0 0 rg BT 191.35 625.10 Td (percentage ) Tj ET Q q 0 0 0 rg BT 228.23 625.10 Td (movement ) Tj ET Q q 0 0 0 rg BT 264.23 625.10 Td (in ) Tj ET Q q 0 0 0 rg BT 272.68 625.10 Td (the ) Tj ET Q q 0 0 0 rg BT 284.68 625.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 302.91 625.10 Td (of ) Tj ET Q q 0 0 0 rg BT 311.81 625.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 335.36 625.10 Td (that ) Tj ET Q q 0 0 0 rg BT 349.58 625.10 Td (we ) Tj ET Q q 0 0 0 rg BT 361.14 625.10 Td (applied ) Tj ET Q q 0 0 0 rg BT 386.92 625.10 Td (to ) Tj ET Q q 0 0 0 rg BT 395.37 625.10 Td (each ) Tj ET Q q 0 0 0 rg BT 412.26 625.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 443.81 625.10 Td (unit ) Tj ET Q q 0 0 0 rg BT 458.49 625.10 Td (with ) Tj ET Q q 0 0 0 rg BT 474.94 625.10 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 505.62 625.10 Td (between ) Tj ET Q q 0 0 0 rg BT 534.50 625.10 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.50 625.10 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 562.50 625.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 615.50 Td (annual ) Tj ET Q q 0 0 0 rg BT 72.67 615.50 Td (impairment ) Tj ET Q q 0 0 0 rg BT 111.40 615.50 Td (review ) Tj ET Q q 0 0 0 rg BT 135.01 615.50 Td (and ) Tj ET Q q 0 0 0 rg BT 148.41 615.50 Td (the ) Tj ET Q q 0 0 0 rg BT 160.04 615.50 Td (annual ) Tj ET Q q 0 0 0 rg BT 183.21 615.50 Td (impairment ) Tj ET Q q 0 0 0 rg BT 221.94 615.50 Td (review ) Tj ET Q q 0 0 0 rg BT 245.55 615.50 Td (performed ) Tj ET Q q 0 0 0 rg BT 280.72 615.50 Td (in ) Tj ET Q q 0 0 0 rg BT 288.79 615.50 Td (2013 ) Tj ET Q q 0 0 0 rg BT 306.64 615.50 Td (along ) Tj ET Q q 0 0 0 rg BT 326.26 615.50 Td (with ) Tj ET Q q 0 0 0 rg BT 342.33 615.50 Td (the ) Tj ET Q q 0 0 0 rg BT 353.95 615.50 Td (adverse ) Tj ET Q q 0 0 0 rg BT 380.23 615.50 Td (movement, ) Tj ET Q q 0 0 0 rg BT 417.85 615.50 Td (in ) Tj ET Q q 0 0 0 rg BT 425.92 615.50 Td (percentage ) Tj ET Q q 0 0 0 rg BT 462.41 615.50 Td (terms, ) Tj ET Q q 0 0 0 rg BT 484.03 615.50 Td (required ) Tj ET Q q 0 0 0 rg BT 512.53 615.50 Td (to ) Tj ET Q q 0 0 0 rg BT 520.60 615.50 Td (make ) Tj ET Q q 0 0 0 rg BT 539.78 615.50 Td (the ) Tj ET Q q 0 0 0 rg BT 551.40 615.50 Td (fair ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 605.90 Td (value ) Tj ET Q q 0 0 0 rg BT 68.82 605.90 Td (of ) Tj ET Q q 0 0 0 rg BT 77.49 605.90 Td (the ) Tj ET Q q 0 0 0 rg BT 89.26 605.90 Td (reporting ) Tj ET Q q 0 0 0 rg BT 120.59 605.90 Td (unit ) Tj ET Q q 0 0 0 rg BT 135.03 605.90 Td (equal ) Tj ET Q q 0 0 0 rg BT 154.36 605.90 Td (their ) Tj ET Q q 0 0 0 rg BT 171.02 605.90 Td (carrying ) Tj ET Q q 0 0 0 rg BT 199.67 605.90 Td (amounts ) Tj ET Q q 0 0 0 rg BT 228.78 605.90 Td (\(with ) Tj ET Q q 0 0 0 rg BT 247.66 605.90 Td (all ) Tj ET Q q 0 0 0 rg BT 257.66 605.90 Td (other ) Tj ET Q q 0 0 0 rg BT 276.10 605.90 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 317.66 605.90 Td (constant\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 567.40 250.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.50 567.40 129.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 567.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 567.40 129.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 537.40 250.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.50 537.40 129.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 537.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 537.40 129.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 507.40 250.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.50 507.40 129.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 507.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 507.40 129.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 580.4 m 428.5 580.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 580.4 m 432.5 580.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 580.4 m 561.5 580.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 567.4 m 428.5 567.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 567.4 m 561.5 567.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 567.4 m 428.5 567.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 567.4 m 561.5 567.4 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 369.30 584.63 Td (Percentage change in cost of capital) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 571.63 Td (Reporting Unit) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 311.35 571.63 Td (Between 2013 and 2014 review) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.65 571.63 Td (Increase necessary to break even) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 556.65 Td (Bulgaria) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.50 556.65 Td (\(1.2\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.15 556.65 Td (25.1%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 541.65 Td (Croatia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.50 541.65 Td (\(2.2\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.15 541.65 Td (44.7%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 526.65 Td (Czech Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.50 526.65 Td (\(1.1\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.15 526.65 Td (16.4%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 511.65 Td (Romania) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.50 511.65 Td (\(1.5\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.15 511.65 Td (42.6%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 496.65 Td (Slovak Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.50 496.65 Td (\(1.4\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.15 496.65 Td (21.7%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 481.65 Td (Slovenia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.50 481.65 Td (\(1.5\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.50 481.65 Td (N/A) Tj ET Q q 0 0 0 rg BT 500.84 481.65 Td ( ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 502.84 485.28 Td (1) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 462.30 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 67.50 462.30 Td (The ) Tj ET Q q 0 0 0 rg BT 81.94 462.30 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 112.38 462.30 Td (in ) Tj ET Q q 0 0 0 rg BT 120.61 462.30 Td (the ) Tj ET Q q 0 0 0 rg BT 132.38 462.30 Td (Slovenia ) Tj ET Q q 0 0 0 rg BT 162.38 462.30 Td (reporting ) Tj ET Q q 0 0 0 rg BT 193.70 462.30 Td (unit ) Tj ET Q q 0 0 0 rg BT 208.14 462.30 Td (was ) Tj ET Q q 0 0 0 rg BT 222.59 462.30 Td (fully ) Tj ET Q q 0 0 0 rg BT 239.70 462.30 Td (impaired ) Tj ET Q q 0 0 0 rg BT 270.13 462.30 Td (in ) Tj ET Q q 0 0 0 rg BT 278.35 462.30 Td (2013.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 446.70 Td (For ) Tj ET Q q 0 0 0 rg BT 63.02 446.70 Td (those ) Tj ET Q q 0 0 0 rg BT 82.30 446.70 Td (reporting ) Tj ET Q q 0 0 0 rg BT 114.03 446.70 Td (units ) Tj ET Q q 0 0 0 rg BT 131.99 446.70 Td (with ) Tj ET Q q 0 0 0 rg BT 148.62 446.70 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 179.46 446.70 Td (as ) Tj ET Q q 0 0 0 rg BT 188.53 446.70 Td (at ) Tj ET Q q 0 0 0 rg BT 196.71 446.70 Td (December ) Tj ET Q q 0 0 0 rg BT 231.98 446.70 Td (31, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 244.38 446.70 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.38 446.70 Td (, ) Tj ET Q q 0 0 0 rg BT 264.78 446.70 Td (the ) Tj ET Q q 0 0 0 rg BT 276.96 446.70 Td (following ) Tj ET Q q 0 0 0 rg BT 310.47 446.70 Td (compound ) Tj ET Q q 0 0 0 rg BT 346.64 446.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 363.26 446.70 Td (flow ) Tj ET Q q 0 0 0 rg BT 380.33 446.70 Td (growth ) Tj ET Q q 0 0 0 rg BT 405.39 446.70 Td (rates ) Tj ET Q q 0 0 0 rg BT 422.90 446.70 Td (are ) Tj ET Q q 0 0 0 rg BT 435.07 446.70 Td (necessary ) Tj ET Q q 0 0 0 rg BT 468.56 446.70 Td (to ) Tj ET Q q 0 0 0 rg BT 477.19 446.70 Td (avoid ) Tj ET Q q 0 0 0 rg BT 497.36 446.70 Td (failing ) Tj ET Q q 0 0 0 rg BT 520.65 446.70 Td (Step ) Tj ET Q q 0 0 0 rg BT 537.27 446.70 Td (1 ) Tj ET Q q 0 0 0 rg BT 543.68 446.70 Td (of ) Tj ET Q q 0 0 0 rg BT 552.74 446.70 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 437.10 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 79.79 437.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 118.52 437.10 Td (test. ) Tj ET Q q 0 0 0 rg BT 133.47 437.10 Td (For ) Tj ET Q q 0 0 0 rg BT 146.43 437.10 Td (comparison, ) Tj ET Q q 0 0 0 rg BT 187.60 437.10 Td (we ) Tj ET Q q 0 0 0 rg BT 198.78 437.10 Td (have ) Tj ET Q q 0 0 0 rg BT 215.73 437.10 Td (also ) Tj ET Q q 0 0 0 rg BT 230.46 437.10 Td (included ) Tj ET Q q 0 0 0 rg BT 259.85 437.10 Td (the ) Tj ET Q q 0 0 0 rg BT 271.47 437.10 Td (compound ) Tj ET Q q 0 0 0 rg BT 307.09 437.10 Td (average ) Tj ET Q q 0 0 0 rg BT 333.81 437.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 349.87 437.10 Td (flow ) Tj ET Q q 0 0 0 rg BT 366.38 437.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 390.89 437.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 407.84 437.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 438.56 437.10 Td (implied ) Tj ET Q q 0 0 0 rg BT 464.85 437.10 Td (by ) Tj ET Q q 0 0 0 rg BT 474.70 437.10 Td (our ) Tj ET Q q 0 0 0 rg BT 487.21 437.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 518.82 437.10 Td (of ) Tj ET Q q 0 0 0 rg BT 527.33 437.10 Td (future ) Tj ET Q q 0 0 0 rg BT 548.28 437.10 Td (cash ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 427.50 Td (flows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 404.00 250.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.50 404.00 129.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 404.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 404.00 129.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 374.00 250.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.50 374.00 129.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 374.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 374.00 129.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 344.00 250.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.50 344.00 129.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 344.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 344.00 129.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 404 m 428.5 404 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 404 m 561.5 404 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 404 m 428.5 404 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 404 m 561.5 404 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 408.23 Td (Reporting Unit) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 326.05 408.23 Td (Br) Tj ET Q q 0 0 0 rg BT 334.79 408.23 Td (eak-even gr) Tj ET Q q 0 0 0 rg BT 374.41 408.23 Td (owth rate \(%\)) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 422.40 411.86 Td (1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.15 408.23 Td (Gr) Tj ET Q q 0 0 0 rg BT 445.78 408.23 Td (owth rate curr) Tj ET Q q 0 0 0 rg BT 495.39 408.23 Td (ently implied \(%\)) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 555.39 411.86 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 393.25 Td (Bulgaria) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 355.15 393.25 Td (9.8%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.15 393.25 Td (21.4%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 378.25 Td (Croatia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.15 378.25 Td (25.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.15 378.25 Td (46.7%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 363.25 Td (Czech Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.50 363.25 Td (\(1.9\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.15 363.25 Td (20.2%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 348.25 Td (Romania) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 355.15 348.25 Td (3.2%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.15 348.25 Td (20.9%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 333.25 Td (Slovak Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.15 333.25 Td (42.7%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.15 333.25 Td (63.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 318.25 Td (Slovenia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.65 318.25 Td (N/A) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 368.43 321.88 Td ( 2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.50 318.25 Td (N/A) Tj ET Q q 0 0 0 rg BT 500.84 318.25 Td ( ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 502.84 321.88 Td (2) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 301.90 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 58.83 305.52 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 301.90 Td (The ) Tj ET Q q 0 0 0 rg BT 82.38 301.90 Td (break-even ) Tj ET Q q 0 0 0 rg BT 120.34 301.90 Td (growth ) Tj ET Q q 0 0 0 rg BT 145.45 301.90 Td (rates ) Tj ET Q q 0 0 0 rg BT 162.98 301.90 Td (and ) Tj ET Q q 0 0 0 rg BT 176.97 301.90 Td (the ) Tj ET Q q 0 0 0 rg BT 189.18 301.90 Td (implied ) Tj ET Q q 0 0 0 rg BT 216.06 301.90 Td (current ) Tj ET Q q 0 0 0 rg BT 241.15 301.90 Td (growth ) Tj ET Q q 0 0 0 rg BT 266.25 301.90 Td (rates ) Tj ET Q q 0 0 0 rg BT 283.79 301.90 Td (reflect ) Tj ET Q q 0 0 0 rg BT 306.66 301.90 Td (the ) Tj ET Q q 0 0 0 rg BT 318.87 301.90 Td (level ) Tj ET Q q 0 0 0 rg BT 336.85 301.90 Td (of ) Tj ET Q q 0 0 0 rg BT 345.95 301.90 Td (cash ) Tj ET Q q 0 0 0 rg BT 362.61 301.90 Td (currently ) Tj ET Q q 0 0 0 rg BT 393.92 301.90 Td (generated ) Tj ET Q q 0 0 0 rg BT 427.45 301.90 Td (by ) Tj ET Q q 0 0 0 rg BT 437.88 301.90 Td (our ) Tj ET Q q 0 0 0 rg BT 450.98 301.90 Td (operations. ) Tj ET Q q 0 0 0 rg BT 488.57 301.90 Td (These ) Tj ET Q q 0 0 0 rg BT 510.11 301.90 Td (growth ) Tj ET Q q 0 0 0 rg BT 535.21 301.90 Td (rates ) Tj ET Q q 0 0 0 rg BT 552.75 301.90 Td (are ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 292.30 Td (calculated ) Tj ET Q q 0 0 0 rg BT 101.88 292.30 Td (by ) Tj ET Q q 0 0 0 rg BT 111.84 292.30 Td (applying ) Tj ET Q q 0 0 0 rg BT 141.79 292.30 Td (a ) Tj ET Q q 0 0 0 rg BT 147.30 292.30 Td (constant ) Tj ET Q q 0 0 0 rg BT 175.92 292.30 Td (annual ) Tj ET Q q 0 0 0 rg BT 199.21 292.30 Td (growth ) Tj ET Q q 0 0 0 rg BT 223.83 292.30 Td (rate ) Tj ET Q q 0 0 0 rg BT 237.78 292.30 Td (to ) Tj ET Q q 0 0 0 rg BT 245.96 292.30 Td (current ) Tj ET Q q 0 0 0 rg BT 270.57 292.30 Td (year ) Tj ET Q q 0 0 0 rg BT 286.29 292.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 302.47 292.30 Td (flow ) Tj ET Q q 0 0 0 rg BT 319.09 292.30 Td (forecasts, ) Tj ET Q q 0 0 0 rg BT 351.48 292.30 Td (with ) Tj ET Q q 0 0 0 rg BT 367.66 292.30 Td (all ) Tj ET Q q 0 0 0 rg BT 377.62 292.30 Td (other ) Tj ET Q q 0 0 0 rg BT 396.01 292.30 Td (variables ) Tj ET Q q 0 0 0 rg BT 426.85 292.30 Td (constant, ) Tj ET Q q 0 0 0 rg BT 457.47 292.30 Td (such ) Tj ET Q q 0 0 0 rg BT 474.09 292.30 Td (that ) Tj ET Q q 0 0 0 rg BT 488.04 292.30 Td (the ) Tj ET Q q 0 0 0 rg BT 499.78 292.30 Td (net ) Tj ET Q q 0 0 0 rg BT 511.51 292.30 Td (present ) Tj ET Q q 0 0 0 rg BT 536.57 292.30 Td (value ) Tj ET Q q 0 0 0 rg BT 555.85 292.30 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 282.70 Td (all ) Tj ET Q q 0 0 0 rg BT 77.80 282.70 Td (future ) Tj ET Q q 0 0 0 rg BT 99.21 282.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 115.73 282.70 Td (flows ) Tj ET Q q 0 0 0 rg BT 135.82 282.70 Td (to ) Tj ET Q q 0 0 0 rg BT 144.35 282.70 Td (perpetuity ) Tj ET Q q 0 0 0 rg BT 179.09 282.70 Td (equals ) Tj ET Q q 0 0 0 rg BT 201.83 282.70 Td (the ) Tj ET Q q 0 0 0 rg BT 213.91 282.70 Td (carrying ) Tj ET Q q 0 0 0 rg BT 242.87 282.70 Td (amount ) Tj ET Q q 0 0 0 rg BT 269.17 282.70 Td (of ) Tj ET Q q 0 0 0 rg BT 278.14 282.70 Td (the ) Tj ET Q q 0 0 0 rg BT 290.22 282.70 Td (reporting ) Tj ET Q q 0 0 0 rg BT 321.85 282.70 Td (unit) Tj ET Q q 0 0 0 rg BT 336.52 282.70 Td (s ) Tj ET Q q 0 0 0 rg BT 341.94 282.70 Td (assets ) Tj ET Q q 0 0 0 rg BT 362.91 282.70 Td (for ) Tj ET Q q 0 0 0 rg BT 374.55 282.70 Td (the ) Tj ET Q q 0 0 0 rg BT 386.63 282.70 Td (break-even ) Tj ET Q q 0 0 0 rg BT 424.46 282.70 Td (rate ) Tj ET Q q 0 0 0 rg BT 438.76 282.70 Td (or ) Tj ET Q q 0 0 0 rg BT 447.73 282.70 Td (our ) Tj ET Q q 0 0 0 rg BT 460.70 282.70 Td (estimate ) Tj ET Q q 0 0 0 rg BT 489.66 282.70 Td (of ) Tj ET Q q 0 0 0 rg BT 498.63 282.70 Td (the ) Tj ET Q q 0 0 0 rg BT 510.71 282.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 524.12 282.70 Td (value ) Tj ET Q q 0 0 0 rg BT 543.75 282.70 Td (of ) Tj ET Q q 0 0 0 rg BT 552.72 282.70 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 273.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 99.45 273.10 Td (unit ) Tj ET Q q 0 0 0 rg BT 114.53 273.10 Td (for ) Tj ET Q q 0 0 0 rg BT 126.48 273.10 Td (the ) Tj ET Q q 0 0 0 rg BT 138.88 273.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 153.50 273.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 185.00 273.10 Td (implied. ) Tj ET Q q 0 0 0 rg BT 214.07 273.10 Td (Such ) Tj ET Q q 0 0 0 rg BT 232.70 273.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 250.43 273.10 Td (do ) Tj ET Q q 0 0 0 rg BT 261.06 273.10 Td (not ) Tj ET Q q 0 0 0 rg BT 273.91 273.10 Td (indicate ) Tj ET Q q 0 0 0 rg BT 301.86 273.10 Td (our ) Tj ET Q q 0 0 0 rg BT 315.15 273.10 Td (expectation ) Tj ET Q q 0 0 0 rg BT 354.65 273.10 Td (of ) Tj ET Q q 0 0 0 rg BT 363.94 273.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 380.78 273.10 Td (flow ) Tj ET Q q 0 0 0 rg BT 398.07 273.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 423.37 273.10 Td (in ) Tj ET Q q 0 0 0 rg BT 432.22 273.10 Td (any ) Tj ET Q q 0 0 0 rg BT 446.39 273.10 Td (given ) Tj ET Q q 0 0 0 rg BT 466.80 273.10 Td (year) Tj ET Q q 0 0 0 rg BT 480.24 273.10 Td (, ) Tj ET Q q 0 0 0 rg BT 484.87 273.10 Td (nor ) Tj ET Q q 0 0 0 rg BT 498.16 273.10 Td (are ) Tj ET Q q 0 0 0 rg BT 510.55 273.10 Td (they ) Tj ET Q q 0 0 0 rg BT 526.96 273.10 Td (necessarily ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 263.50 Td (comparable ) Tj ET Q q 0 0 0 rg BT 106.81 263.50 Td (with ) Tj ET Q q 0 0 0 rg BT 123.04 263.50 Td (actual ) Tj ET Q q 0 0 0 rg BT 144.13 263.50 Td (growth ) Tj ET Q q 0 0 0 rg BT 168.80 263.50 Td (rates ) Tj ET Q q 0 0 0 rg BT 185.90 263.50 Td (achieved ) Tj ET Q q 0 0 0 rg BT 216.32 263.50 Td (in ) Tj ET Q q 0 0 0 rg BT 224.55 263.50 Td (previous ) Tj ET Q q 0 0 0 rg BT 254.10 263.50 Td (years.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 250.90 Td (\(2\)) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 58.83 254.52 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 250.90 Td (The ) Tj ET Q q 0 0 0 rg BT 81.94 250.90 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 112.38 250.90 Td (in ) Tj ET Q q 0 0 0 rg BT 120.61 250.90 Td (the ) Tj ET Q q 0 0 0 rg BT 132.38 250.90 Td (Slovenia ) Tj ET Q q 0 0 0 rg BT 162.38 250.90 Td (reporting ) Tj ET Q q 0 0 0 rg BT 193.70 250.90 Td (unit ) Tj ET Q q 0 0 0 rg BT 208.14 250.90 Td (was ) Tj ET Q q 0 0 0 rg BT 222.59 250.90 Td (fully ) Tj ET Q q 0 0 0 rg BT 239.70 250.90 Td (impaired ) Tj ET Q q 0 0 0 rg BT 270.13 250.90 Td (in ) Tj ET Q q 0 0 0 rg BT 278.35 250.90 Td (2013.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 235.30 Td (The ) Tj ET Q q 0 0 0 rg BT 63.87 235.30 Td (table ) Tj ET Q q 0 0 0 rg BT 81.36 235.30 Td (below ) Tj ET Q q 0 0 0 rg BT 102.84 235.30 Td (shows ) Tj ET Q q 0 0 0 rg BT 124.79 235.30 Td (whether ) Tj ET Q q 0 0 0 rg BT 152.49 235.30 Td (an ) Tj ET Q q 0 0 0 rg BT 161.97 235.30 Td (adverse ) Tj ET Q q 0 0 0 rg BT 188.34 235.30 Td (change ) Tj ET Q q 0 0 0 rg BT 212.93 235.30 Td (of ) Tj ET Q q 0 0 0 rg BT 221.53 235.30 Td (10.0% ) Tj ET Q q 0 0 0 rg BT 244.13 235.30 Td (in ) Tj ET Q q 0 0 0 rg BT 252.29 235.30 Td (any ) Tj ET Q q 0 0 0 rg BT 265.78 235.30 Td (of ) Tj ET Q q 0 0 0 rg BT 274.38 235.30 Td (our ) Tj ET Q q 0 0 0 rg BT 286.98 235.30 Td (most ) Tj ET Q q 0 0 0 rg BT 304.47 235.30 Td (significant ) Tj ET Q q 0 0 0 rg BT 340.18 235.30 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 381.67 235.30 Td (would ) Tj ET Q q 0 0 0 rg BT 403.61 235.30 Td (result ) Tj ET Q q 0 0 0 rg BT 423.32 235.30 Td (in ) Tj ET Q q 0 0 0 rg BT 431.48 235.30 Td (impairment. ) Tj ET Q q 0 0 0 rg BT 472.16 235.30 Td (Where ) Tj ET Q q 0 0 0 rg BT 495.41 235.30 Td (an ) Tj ET Q q 0 0 0 rg BT 504.90 235.30 Td (adverse ) Tj ET Q q 0 0 0 rg BT 531.26 235.30 Td (change ) Tj ET Q q 0 0 0 rg BT 555.85 235.30 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 225.70 Td (less ) Tj ET Q q 0 0 0 rg BT 63.50 225.70 Td (than ) Tj ET Q q 0 0 0 rg BT 79.27 225.70 Td (10.0% ) Tj ET Q q 0 0 0 rg BT 101.94 225.70 Td (would ) Tj ET Q q 0 0 0 rg BT 123.94 225.70 Td (result ) Tj ET Q q 0 0 0 rg BT 143.71 225.70 Td (in ) Tj ET Q q 0 0 0 rg BT 151.93 225.70 Td (an ) Tj ET Q q 0 0 0 rg BT 161.48 225.70 Td (impairment, ) Tj ET Q q 0 0 0 rg BT 202.36 225.70 Td (the ) Tj ET Q q 0 0 0 rg BT 214.14 225.70 Td (level ) Tj ET Q q 0 0 0 rg BT 231.68 225.70 Td (of ) Tj ET Q q 0 0 0 rg BT 240.35 225.70 Td (that ) Tj ET Q q 0 0 0 rg BT 254.34 225.70 Td (change ) Tj ET Q q 0 0 0 rg BT 279.00 225.70 Td (is ) Tj ET Q q 0 0 0 rg BT 286.33 225.70 Td (presented ) Tj ET Q q 0 0 0 rg BT 318.98 225.70 Td (parenthetically) Tj ET Q q 0 0 0 rg BT 366.00 225.70 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 199.20 159.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 199.20 175.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.00 199.20 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.00 199.20 175.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 165.20 159.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 165.20 175.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.00 165.20 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.00 165.20 175.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 131.20 159.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.00 131.20 175.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.00 131.20 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.00 131.20 175.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 208 199.20000000000005 m 383 199.20000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 387 199.20000000000005 m 562 199.20000000000005 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 203.43 Td (10% Adverse Change in:) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 285.05 203.43 Td (Indefinite-lived trademarks) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.35 203.43 Td (Goodwill) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 190.45 Td (Cost of Capital) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.15 190.45 Td (None) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.15 190.45 Td (None) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 169.45 Td (Television Advertising Market) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.15 169.45 Td (None) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.40 177.45 Td (Bulgaria \(7.7%\), Croatia \(5.2%\), ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.50 169.45 Td (Czech Republic \(8.0%\), Slovak Republic \(4.0%\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 148.45 Td (Market Share) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.15 148.45 Td (None) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.40 156.45 Td (Bulgaria \(7.7%\), Croatia \(5.2%\),) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.50 148.45 Td (Czech Republic \(8.0%\), Slovak Republic \(4.0%\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 135.45 Td (Forecast OIBDA) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.60 135.45 Td (Not applicable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.15 135.45 Td (None) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 122.45 Td (Forecast Capital Expenditure) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.60 122.45 Td (Not applicable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.15 122.45 Td (None) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 109.45 Td (Perpetuity Growth Rate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.15 109.45 Td (None) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.15 109.45 Td (None) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 90.10 Td (The ) Tj ET Q q 0 0 0 rg BT 63.38 90.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 75.93 90.10 Td (value ) Tj ET Q q 0 0 0 rg BT 94.71 90.10 Td (of ) Tj ET Q q 0 0 0 rg BT 102.82 90.10 Td (each ) Tj ET Q q 0 0 0 rg BT 118.92 90.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 149.69 90.10 Td (unit ) Tj ET Q q 0 0 0 rg BT 163.58 90.10 Td (as ) Tj ET Q q 0 0 0 rg BT 171.69 90.10 Td (of ) Tj ET Q q 0 0 0 rg BT 179.80 90.10 Td (December ) Tj ET Q q 0 0 0 rg BT 214.12 90.10 Td (31, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 225.56 90.10 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.56 90.10 Td ( ) Tj ET Q q 0 0 0 rg BT 243.01 90.10 Td (was ) Tj ET Q q 0 0 0 rg BT 256.90 90.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 298.79 90.10 Td (in ) Tj ET Q q 0 0 0 rg BT 306.46 90.10 Td (excess ) Tj ET Q q 0 0 0 rg BT 328.79 90.10 Td (of ) Tj ET Q q 0 0 0 rg BT 336.90 90.10 Td (its ) Tj ET Q q 0 0 0 rg BT 345.90 90.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 374.00 90.10 Td (amount. ) Tj ET Q q 0 0 0 rg BT 401.34 90.10 Td (The ) Tj ET Q q 0 0 0 rg BT 415.23 90.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 441.10 90.10 Td (of ) Tj ET Q q 0 0 0 rg BT 449.21 90.10 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 479.10 90.10 Td (allocated ) Tj ET Q q 0 0 0 rg BT 509.42 90.10 Td (to ) Tj ET Q q 0 0 0 rg BT 517.09 90.10 Td (each ) Tj ET Q q 0 0 0 rg BT 533.19 90.10 Td (reporting ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 80.50 Td (unit ) Tj ET Q q 0 0 0 rg BT 63.95 80.50 Td (is ) Tj ET Q q 0 0 0 rg BT 71.28 80.50 Td (presented ) Tj ET Q q 0 0 0 rg BT 103.93 80.50 Td (in ) Tj ET Q q 0 0 0 rg BT 112.16 80.50 Td (Item ) Tj ET Q q 0 0 0 rg BT 128.82 80.50 Td (8, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 136.82 80.50 Td (Note ) Tj ET Q q 0 0 0 rg BT 154.37 80.50 Td (4, ) Tj ET Q q 0 0 0 rg BT 162.37 80.50 Td ("Goodwill ) Tj ET Q q 0 0 0 rg BT 197.86 80.50 Td (and ) Tj ET Q q 0 0 0 rg BT 211.41 80.50 Td (Intangible ) Tj ET Q q 0 0 0 rg BT 245.40 80.50 Td (Assets") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 269.55 80.50 Td (.) Tj ET Q endstream endobj 85 0 obj <>] /Rotate 0 /Contents 86 0 R>> endobj 86 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (40) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 723.50 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 723.50 Td (e ) Tj ET Q q 0 0 0 rg BT 62.10 723.50 Td (consider ) Tj ET Q q 0 0 0 rg BT 91.35 723.50 Td (all ) Tj ET Q q 0 0 0 rg BT 101.49 723.50 Td (current ) Tj ET Q q 0 0 0 rg BT 126.29 723.50 Td (information ) Tj ET Q q 0 0 0 rg BT 166.20 723.50 Td (in ) Tj ET Q q 0 0 0 rg BT 174.56 723.50 Td (respect ) Tj ET Q q 0 0 0 rg BT 199.36 723.50 Td (of ) Tj ET Q q 0 0 0 rg BT 208.17 723.50 Td (performing ) Tj ET Q q 0 0 0 rg BT 246.30 723.50 Td (our ) Tj ET Q q 0 0 0 rg BT 259.11 723.50 Td (impairment ) Tj ET Q q 0 0 0 rg BT 298.13 723.50 Td (reviews ) Tj ET Q q 0 0 0 rg BT 325.15 723.50 Td (and ) Tj ET Q q 0 0 0 rg BT 338.85 723.50 Td (calculating ) Tj ET Q q 0 0 0 rg BT 376.08 723.50 Td (our ) Tj ET Q q 0 0 0 rg BT 388.89 723.50 Td (impairment ) Tj ET Q q 0 0 0 rg BT 427.91 723.50 Td (char) Tj ET Q q 0 0 0 rg BT 441.54 723.50 Td (ges. ) Tj ET Q q 0 0 0 rg BT 456.34 723.50 Td (If ) Tj ET Q q 0 0 0 rg BT 463.81 723.50 Td (our ) Tj ET Q q 0 0 0 rg BT 476.62 723.50 Td (cash ) Tj ET Q q 0 0 0 rg BT 492.98 723.50 Td (flow ) Tj ET Q q 0 0 0 rg BT 509.79 723.50 Td (forecasts ) Tj ET Q q 0 0 0 rg BT 540.36 723.50 Td (for ) Tj ET Q q 0 0 0 rg BT 551.83 723.50 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 713.90 Td (operations ) Tj ET Q q 0 0 0 rg BT 84.89 713.90 Td (deteriorate, ) Tj ET Q q 0 0 0 rg BT 123.15 713.90 Td (or ) Tj ET Q q 0 0 0 rg BT 131.87 713.90 Td (if ) Tj ET Q q 0 0 0 rg BT 138.82 713.90 Td (uncertainty ) Tj ET Q q 0 0 0 rg BT 176.87 713.90 Td (surrounding ) Tj ET Q q 0 0 0 rg BT 217.59 713.90 Td (the ) Tj ET Q q 0 0 0 rg BT 229.43 713.90 Td (Eurozone ) Tj ET Q q 0 0 0 rg BT 262.14 713.90 Td (and ) Tj ET Q q 0 0 0 rg BT 275.75 713.90 Td (its ) Tj ET Q q 0 0 0 rg BT 285.37 713.90 Td (periphery ) Tj ET Q q 0 0 0 rg BT 318.09 713.90 Td (returns ) Tj ET Q q 0 0 0 rg BT 342.36 713.90 Td (causing ) Tj ET Q q 0 0 0 rg BT 368.86 713.90 Td (costs ) Tj ET Q q 0 0 0 rg BT 386.92 713.90 Td (of ) Tj ET Q q 0 0 0 rg BT 395.65 713.90 Td (capital ) Tj ET Q q 0 0 0 rg BT 419.03 713.90 Td (to ) Tj ET Q q 0 0 0 rg BT 427.32 713.90 Td (increase, ) Tj ET Q q 0 0 0 rg BT 457.58 713.90 Td (we ) Tj ET Q q 0 0 0 rg BT 468.97 713.90 Td (may ) Tj ET Q q 0 0 0 rg BT 484.80 713.90 Td (be ) Tj ET Q q 0 0 0 rg BT 494.42 713.90 Td (required ) Tj ET Q q 0 0 0 rg BT 523.13 713.90 Td (to ) Tj ET Q q 0 0 0 rg BT 531.42 713.90 Td (recognize ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 704.30 Td (impairment ) Tj ET Q q 0 0 0 rg BT 88.38 704.30 Td (char) Tj ET Q q 0 0 0 rg BT 102.00 704.30 Td (ges ) Tj ET Q q 0 0 0 rg BT 114.66 704.30 Td (in ) Tj ET Q q 0 0 0 rg BT 122.89 704.30 Td (later ) Tj ET Q q 0 0 0 rg BT 139.10 704.30 Td (periods.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 685.70 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 78.59 685.70 Td (Recognition) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 670.10 Td (Net ) Tj ET Q q 0 0 0 rg BT 63.10 670.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 93.58 670.10 Td (predominantly ) Tj ET Q q 0 0 0 rg BT 142.29 670.10 Td (comprise ) Tj ET Q q 0 0 0 rg BT 173.66 670.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 204.14 670.10 Td (from ) Tj ET Q q 0 0 0 rg BT 221.74 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 233.56 670.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 248.05 670.10 Td (of ) Tj ET Q q 0 0 0 rg BT 256.76 670.10 Td (advertising ) Tj ET Q q 0 0 0 rg BT 294.36 670.10 Td (time ) Tj ET Q q 0 0 0 rg BT 310.63 670.10 Td (less ) Tj ET Q q 0 0 0 rg BT 324.68 670.10 Td (discounts ) Tj ET Q q 0 0 0 rg BT 356.95 670.10 Td (and ) Tj ET Q q 0 0 0 rg BT 370.55 670.10 Td (agency ) Tj ET Q q 0 0 0 rg BT 395.25 670.10 Td (commissions, ) Tj ET Q q 0 0 0 rg BT 441.09 670.10 Td (and ) Tj ET Q q 0 0 0 rg BT 454.69 670.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 469.62 670.10 Td (char) Tj ET Q q 0 0 0 rg BT 483.24 670.10 Td (ged ) Tj ET Q q 0 0 0 rg BT 496.84 670.10 Td (to ) Tj ET Q q 0 0 0 rg BT 505.11 670.10 Td (cable ) Tj ET Q q 0 0 0 rg BT 524.03 670.10 Td (and ) Tj ET Q q 0 0 0 rg BT 537.63 670.10 Td (satellite ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 660.50 Td (operators ) Tj ET Q q 0 0 0 rg BT 81.44 660.50 Td (for ) Tj ET Q q 0 0 0 rg BT 92.94 660.50 Td (carriage ) Tj ET Q q 0 0 0 rg BT 120.86 660.50 Td (of ) Tj ET Q q 0 0 0 rg BT 129.70 660.50 Td (our ) Tj ET Q q 0 0 0 rg BT 142.54 660.50 Td (channels. ) Tj ET Q q 0 0 0 rg BT 174.70 660.50 Td (Net ) Tj ET Q q 0 0 0 rg BT 188.42 660.50 Td (revenues ) Tj ET Q q 0 0 0 rg BT 219.02 660.50 Td (are ) Tj ET Q q 0 0 0 rg BT 230.96 660.50 Td (recognized ) Tj ET Q q 0 0 0 rg BT 268.22 660.50 Td (when ) Tj ET Q q 0 0 0 rg BT 287.72 660.50 Td (the ) Tj ET Q q 0 0 0 rg BT 299.66 660.50 Td (advertisement ) Tj ET Q q 0 0 0 rg BT 346.71 660.50 Td (is ) Tj ET Q q 0 0 0 rg BT 354.21 660.50 Td (aired ) Tj ET Q q 0 0 0 rg BT 372.38 660.50 Td (as ) Tj ET Q q 0 0 0 rg BT 381.21 660.50 Td (long ) Tj ET Q q 0 0 0 rg BT 397.61 660.50 Td (as ) Tj ET Q q 0 0 0 rg BT 406.44 660.50 Td (there ) Tj ET Q q 0 0 0 rg BT 424.60 660.50 Td (is ) Tj ET Q q 0 0 0 rg BT 432.11 660.50 Td (persuasive ) Tj ET Q q 0 0 0 rg BT 468.05 660.50 Td (evidence ) Tj ET Q q 0 0 0 rg BT 498.64 660.50 Td (that ) Tj ET Q q 0 0 0 rg BT 512.81 660.50 Td (an ) Tj ET Q q 0 0 0 rg BT 522.54 660.50 Td (arrangement ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 650.90 Td (with ) Tj ET Q q 0 0 0 rg BT 65.37 650.90 Td (a ) Tj ET Q q 0 0 0 rg BT 70.56 650.90 Td (customer ) Tj ET Q q 0 0 0 rg BT 101.53 650.90 Td (exists, ) Tj ET Q q 0 0 0 rg BT 123.40 650.90 Td (the ) Tj ET Q q 0 0 0 rg BT 134.82 650.90 Td (price ) Tj ET Q q 0 0 0 rg BT 152.45 650.90 Td (of ) Tj ET Q q 0 0 0 rg BT 160.76 650.90 Td (the ) Tj ET Q q 0 0 0 rg BT 172.18 650.90 Td (delivered ) Tj ET Q q 0 0 0 rg BT 203.58 650.90 Td (advertising ) Tj ET Q q 0 0 0 rg BT 240.77 650.90 Td (time ) Tj ET Q q 0 0 0 rg BT 256.64 650.90 Td (is ) Tj ET Q q 0 0 0 rg BT 263.62 650.90 Td (fixed ) Tj ET Q q 0 0 0 rg BT 281.70 650.90 Td (or ) Tj ET Q q 0 0 0 rg BT 290.01 650.90 Td (determinable, ) Tj ET Q q 0 0 0 rg BT 335.41 650.90 Td (and ) Tj ET Q q 0 0 0 rg BT 348.61 650.90 Td (collection ) Tj ET Q q 0 0 0 rg BT 381.79 650.90 Td (of ) Tj ET Q q 0 0 0 rg BT 390.10 650.90 Td (the ) Tj ET Q q 0 0 0 rg BT 401.52 650.90 Td (arrangement ) Tj ET Q q 0 0 0 rg BT 443.14 650.90 Td (fee ) Tj ET Q q 0 0 0 rg BT 454.55 650.90 Td (is ) Tj ET Q q 0 0 0 rg BT 461.53 650.90 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 497.83 650.90 Td (assured. ) Tj ET Q q 0 0 0 rg BT 525.46 650.90 Td (In ) Tj ET Q q 0 0 0 rg BT 533.77 650.90 Td (the ) Tj ET Q q 0 0 0 rg BT 545.19 650.90 Td (event ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 641.30 Td (that ) Tj ET Q q 0 0 0 rg BT 63.50 641.30 Td (a ) Tj ET Q q 0 0 0 rg BT 69.05 641.30 Td (customer ) Tj ET Q q 0 0 0 rg BT 100.37 641.30 Td (falls ) Tj ET Q q 0 0 0 rg BT 116.14 641.30 Td (significantly ) Tj ET Q q 0 0 0 rg BT 158.14 641.30 Td (behind ) Tj ET Q q 0 0 0 rg BT 181.91 641.30 Td (its ) Tj ET Q q 0 0 0 rg BT 191.47 641.30 Td (contractual ) Tj ET Q q 0 0 0 rg BT 229.00 641.30 Td (payment ) Tj ET Q q 0 0 0 rg BT 258.55 641.30 Td (terms, ) Tj ET Q q 0 0 0 rg BT 280.32 641.30 Td (revenue ) Tj ET Q q 0 0 0 rg BT 307.64 641.30 Td (is ) Tj ET Q q 0 0 0 rg BT 314.98 641.30 Td (deferred ) Tj ET Q q 0 0 0 rg BT 343.62 641.30 Td (until ) Tj ET Q q 0 0 0 rg BT 360.29 641.30 Td (the ) Tj ET Q q 0 0 0 rg BT 372.06 641.30 Td (customer ) Tj ET Q q 0 0 0 rg BT 403.39 641.30 Td (has ) Tj ET Q q 0 0 0 rg BT 416.05 641.30 Td (resumed ) Tj ET Q q 0 0 0 rg BT 445.15 641.30 Td (normal ) Tj ET Q q 0 0 0 rg BT 469.81 641.30 Td (payment ) Tj ET Q q 0 0 0 rg BT 499.36 641.30 Td (terms.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 625.70 Td (Agency ) Tj ET Q q 0 0 0 rg BT 76.52 625.70 Td (commissions, ) Tj ET Q q 0 0 0 rg BT 122.44 625.70 Td (where ) Tj ET Q q 0 0 0 rg BT 144.13 625.70 Td (applicable, ) Tj ET Q q 0 0 0 rg BT 181.14 625.70 Td (are ) Tj ET Q q 0 0 0 rg BT 193.05 625.70 Td (calculated ) Tj ET Q q 0 0 0 rg BT 227.61 625.70 Td (based ) Tj ET Q q 0 0 0 rg BT 247.97 625.70 Td (on ) Tj ET Q q 0 0 0 rg BT 258.11 625.70 Td (a ) Tj ET Q q 0 0 0 rg BT 263.80 625.70 Td (stated ) Tj ET Q q 0 0 0 rg BT 284.60 625.70 Td (percentage ) Tj ET Q q 0 0 0 rg BT 321.39 625.70 Td (applied ) Tj ET Q q 0 0 0 rg BT 347.07 625.70 Td (to ) Tj ET Q q 0 0 0 rg BT 355.44 625.70 Td (gross ) Tj ET Q q 0 0 0 rg BT 374.47 625.70 Td (billing ) Tj ET Q q 0 0 0 rg BT 397.50 625.70 Td (revenue. ) Tj ET Q q 0 0 0 rg BT 426.49 625.70 Td (Advertisers ) Tj ET Q q 0 0 0 rg BT 465.51 625.70 Td (remit ) Tj ET Q q 0 0 0 rg BT 484.53 625.70 Td (the ) Tj ET Q q 0 0 0 rg BT 496.45 625.70 Td (gross ) Tj ET Q q 0 0 0 rg BT 515.48 625.70 Td (billing ) Tj ET Q q 0 0 0 rg BT 538.51 625.70 Td (amount ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 616.10 Td (to ) Tj ET Q q 0 0 0 rg BT 57.52 616.10 Td (the ) Tj ET Q q 0 0 0 rg BT 69.09 616.10 Td (agency ) Tj ET Q q 0 0 0 rg BT 93.54 616.10 Td (and ) Tj ET Q q 0 0 0 rg BT 106.89 616.10 Td (the ) Tj ET Q q 0 0 0 rg BT 118.46 616.10 Td (agency ) Tj ET Q q 0 0 0 rg BT 142.91 616.10 Td (remits ) Tj ET Q q 0 0 0 rg BT 164.70 616.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 183.39 616.10 Td (billings, ) Tj ET Q q 0 0 0 rg BT 211.19 616.10 Td (less ) Tj ET Q q 0 0 0 rg BT 224.98 616.10 Td (their ) Tj ET Q q 0 0 0 rg BT 241.44 616.10 Td (commission, ) Tj ET Q q 0 0 0 rg BT 283.91 616.10 Td (to ) Tj ET Q q 0 0 0 rg BT 291.93 616.10 Td (us ) Tj ET Q q 0 0 0 rg BT 300.84 616.10 Td (when ) Tj ET Q q 0 0 0 rg BT 319.96 616.10 Td (the ) Tj ET Q q 0 0 0 rg BT 331.53 616.10 Td (advertisement ) Tj ET Q q 0 0 0 rg BT 378.20 616.10 Td (is ) Tj ET Q q 0 0 0 rg BT 385.33 616.10 Td (not ) Tj ET Q q 0 0 0 rg BT 397.35 616.10 Td (placed ) Tj ET Q q 0 0 0 rg BT 420.02 616.10 Td (directly ) Tj ET Q q 0 0 0 rg BT 446.25 616.10 Td (by ) Tj ET Q q 0 0 0 rg BT 456.05 616.10 Td (the ) Tj ET Q q 0 0 0 rg BT 467.62 616.10 Td (advertiser) Tj ET Q q 0 0 0 rg BT 498.72 616.10 Td (. ) Tj ET Q q 0 0 0 rg BT 502.52 616.10 Td (Payments ) Tj ET Q q 0 0 0 rg BT 535.42 616.10 Td (received ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 606.50 Td (in ) Tj ET Q q 0 0 0 rg BT 57.72 606.50 Td (advance ) Tj ET Q q 0 0 0 rg BT 85.93 606.50 Td (of ) Tj ET Q q 0 0 0 rg BT 94.59 606.50 Td (being ) Tj ET Q q 0 0 0 rg BT 114.36 606.50 Td (earned ) Tj ET Q q 0 0 0 rg BT 137.68 606.50 Td (are ) Tj ET Q q 0 0 0 rg BT 149.45 606.50 Td (recorded ) Tj ET Q q 0 0 0 rg BT 179.43 606.50 Td (as ) Tj ET Q q 0 0 0 rg BT 188.09 606.50 Td (deferred ) Tj ET Q q 0 0 0 rg BT 216.73 606.50 Td (income.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 590.90 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 590.90 Td (e ) Tj ET Q q 0 0 0 rg BT 62.09 590.90 Td (maintain ) Tj ET Q q 0 0 0 rg BT 92.20 590.90 Td (a ) Tj ET Q q 0 0 0 rg BT 97.88 590.90 Td (bad ) Tj ET Q q 0 0 0 rg BT 111.55 590.90 Td (debt ) Tj ET Q q 0 0 0 rg BT 127.45 590.90 Td (provision ) Tj ET Q q 0 0 0 rg BT 159.80 590.90 Td (for ) Tj ET Q q 0 0 0 rg BT 171.25 590.90 Td (estimated ) Tj ET Q q 0 0 0 rg BT 204.04 590.90 Td (losses ) Tj ET Q q 0 0 0 rg BT 225.27 590.90 Td (resulting ) Tj ET Q q 0 0 0 rg BT 255.39 590.90 Td (from ) Tj ET Q q 0 0 0 rg BT 273.07 590.90 Td (the ) Tj ET Q q 0 0 0 rg BT 284.97 590.90 Td (inability ) Tj ET Q q 0 0 0 rg BT 313.76 590.90 Td (of ) Tj ET Q q 0 0 0 rg BT 322.55 590.90 Td (our ) Tj ET Q q 0 0 0 rg BT 335.34 590.90 Td (customers ) Tj ET Q q 0 0 0 rg BT 369.90 590.90 Td (to ) Tj ET Q q 0 0 0 rg BT 378.25 590.90 Td (make ) Tj ET Q q 0 0 0 rg BT 397.70 590.90 Td (required ) Tj ET Q q 0 0 0 rg BT 426.47 590.90 Td (payments. ) Tj ET Q q 0 0 0 rg BT 461.26 590.90 Td (If ) Tj ET Q q 0 0 0 rg BT 468.71 590.90 Td (the ) Tj ET Q q 0 0 0 rg BT 480.61 590.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 510.72 590.90 Td (condition ) Tj ET Q q 0 0 0 rg BT 543.06 590.90 Td (of ) Tj ET Q q 0 0 0 rg BT 551.85 590.90 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 581.30 Td (customers ) Tj ET Q q 0 0 0 rg BT 83.64 581.30 Td (were ) Tj ET Q q 0 0 0 rg BT 100.89 581.30 Td (to ) Tj ET Q q 0 0 0 rg BT 108.81 581.30 Td (deteriorate, ) Tj ET Q q 0 0 0 rg BT 146.71 581.30 Td (additional ) Tj ET Q q 0 0 0 rg BT 180.41 581.30 Td (allowances ) Tj ET Q q 0 0 0 rg BT 217.65 581.30 Td (may ) Tj ET Q q 0 0 0 rg BT 233.13 581.30 Td (be ) Tj ET Q q 0 0 0 rg BT 242.38 581.30 Td (required ) Tj ET Q q 0 0 0 rg BT 270.74 581.30 Td (in ) Tj ET Q q 0 0 0 rg BT 278.66 581.30 Td (future ) Tj ET Q q 0 0 0 rg BT 299.47 581.30 Td (periods. ) Tj ET Q q 0 0 0 rg BT 326.60 581.30 Td (W) Tj ET Q q 0 0 0 rg BT 333.51 581.30 Td (e ) Tj ET Q q 0 0 0 rg BT 338.76 581.30 Td (review ) Tj ET Q q 0 0 0 rg BT 362.23 581.30 Td (the ) Tj ET Q q 0 0 0 rg BT 373.71 581.30 Td (accounts ) Tj ET Q q 0 0 0 rg BT 403.40 581.30 Td (receivable ) Tj ET Q q 0 0 0 rg BT 437.97 581.30 Td (balances ) Tj ET Q q 0 0 0 rg BT 467.21 581.30 Td (periodically ) Tj ET Q q 0 0 0 rg BT 507.12 581.30 Td (and ) Tj ET Q q 0 0 0 rg BT 520.37 581.30 Td (our ) Tj ET Q q 0 0 0 rg BT 532.74 581.30 Td (historical ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 571.70 Td (bad ) Tj ET Q q 0 0 0 rg BT 63.05 571.70 Td (debt, ) Tj ET Q q 0 0 0 rg BT 80.82 571.70 Td (customer ) Tj ET Q q 0 0 0 rg BT 112.15 571.70 Td (concentrations ) Tj ET Q q 0 0 0 rg BT 160.80 571.70 Td (and ) Tj ET Q q 0 0 0 rg BT 174.35 571.70 Td (customer ) Tj ET Q q 0 0 0 rg BT 205.67 571.70 Td (creditworthiness ) Tj ET Q q 0 0 0 rg BT 260.55 571.70 Td (when ) Tj ET Q q 0 0 0 rg BT 279.88 571.70 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 315.20 571.70 Td (the ) Tj ET Q q 0 0 0 rg BT 326.97 571.70 Td (adequacy ) Tj ET Q q 0 0 0 rg BT 359.17 571.70 Td (of ) Tj ET Q q 0 0 0 rg BT 367.84 571.70 Td (our ) Tj ET Q q 0 0 0 rg BT 380.50 571.70 Td (provision.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 553.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 75.04 553.10 Td (T) Tj ET Q q 0 0 0 rg BT 78.76 553.10 Td (axes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 537.50 Td (The ) Tj ET Q q 0 0 0 rg BT 64.26 537.50 Td (provision ) Tj ET Q q 0 0 0 rg BT 96.80 537.50 Td (for ) Tj ET Q q 0 0 0 rg BT 108.46 537.50 Td (income ) Tj ET Q q 0 0 0 rg BT 134.32 537.50 Td (taxes ) Tj ET Q q 0 0 0 rg BT 153.08 537.50 Td (includes ) Tj ET Q q 0 0 0 rg BT 182.07 537.50 Td (local ) Tj ET Q q 0 0 0 rg BT 199.94 537.50 Td (and ) Tj ET Q q 0 0 0 rg BT 213.81 537.50 Td (foreign ) Tj ET Q q 0 0 0 rg BT 239.23 537.50 Td (taxes. ) Tj ET Q q 0 0 0 rg BT 259.99 537.50 Td (Deferred ) Tj ET Q q 0 0 0 rg BT 290.74 537.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 302.83 537.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 323.82 537.50 Td (and ) Tj ET Q q 0 0 0 rg BT 337.69 537.50 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 369.79 537.50 Td (are ) Tj ET Q q 0 0 0 rg BT 381.88 537.50 Td (recognized ) Tj ET Q q 0 0 0 rg BT 419.29 537.50 Td (for ) Tj ET Q q 0 0 0 rg BT 430.94 537.50 Td (the ) Tj ET Q q 0 0 0 rg BT 443.03 537.50 Td (estimated ) Tj ET Q q 0 0 0 rg BT 476.01 537.50 Td (future ) Tj ET Q q 0 0 0 rg BT 497.44 537.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 509.53 537.50 Td (consequences ) Tj ET Q q 0 0 0 rg BT 555.83 537.50 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 527.90 Td (temporary ) Tj ET Q q 0 0 0 rg BT 84.99 527.90 Td (dif) Tj ET Q q 0 0 0 rg BT 93.73 527.90 Td (ferences ) Tj ET Q q 0 0 0 rg BT 122.99 527.90 Td (between ) Tj ET Q q 0 0 0 rg BT 152.25 527.90 Td (the ) Tj ET Q q 0 0 0 rg BT 164.64 527.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 195.23 527.90 Td (statement ) Tj ET Q q 0 0 0 rg BT 228.50 527.90 Td (carrying ) Tj ET Q q 0 0 0 rg BT 257.77 527.90 Td (amounts ) Tj ET Q q 0 0 0 rg BT 287.49 527.90 Td (and ) Tj ET Q q 0 0 0 rg BT 301.65 527.90 Td (their ) Tj ET Q q 0 0 0 rg BT 318.92 527.90 Td (respective ) Tj ET Q q 0 0 0 rg BT 353.96 527.90 Td (tax ) Tj ET Q q 0 0 0 rg BT 366.35 527.90 Td (bases. ) Tj ET Q q 0 0 0 rg BT 388.29 527.90 Td (Deferred ) Tj ET Q q 0 0 0 rg BT 419.32 527.90 Td (tax ) Tj ET Q q 0 0 0 rg BT 431.71 527.90 Td (assets ) Tj ET Q q 0 0 0 rg BT 452.98 527.90 Td (and ) Tj ET Q q 0 0 0 rg BT 467.15 527.90 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 499.53 527.90 Td (are ) Tj ET Q q 0 0 0 rg BT 511.91 527.90 Td (measured ) Tj ET Q q 0 0 0 rg BT 545.18 527.90 Td (using ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 518.30 Td (enacted ) Tj ET Q q 0 0 0 rg BT 76.43 518.30 Td (tax ) Tj ET Q q 0 0 0 rg BT 88.71 518.30 Td (rates ) Tj ET Q q 0 0 0 rg BT 106.31 518.30 Td (expected ) Tj ET Q q 0 0 0 rg BT 137.24 518.30 Td (to ) Tj ET Q q 0 0 0 rg BT 145.97 518.30 Td (apply ) Tj ET Q q 0 0 0 rg BT 166.25 518.30 Td (to ) Tj ET Q q 0 0 0 rg BT 174.97 518.30 Td (taxable ) Tj ET Q q 0 0 0 rg BT 200.57 518.30 Td (income ) Tj ET Q q 0 0 0 rg BT 226.63 518.30 Td (in ) Tj ET Q q 0 0 0 rg BT 235.35 518.30 Td (the ) Tj ET Q q 0 0 0 rg BT 247.63 518.30 Td (year ) Tj ET Q q 0 0 0 rg BT 263.90 518.30 Td (in ) Tj ET Q q 0 0 0 rg BT 272.63 518.30 Td (which ) Tj ET Q q 0 0 0 rg BT 294.68 518.30 Td (the ) Tj ET Q q 0 0 0 rg BT 306.96 518.30 Td (temporary ) Tj ET Q q 0 0 0 rg BT 342.34 518.30 Td (dif) Tj ET Q q 0 0 0 rg BT 351.08 518.30 Td (ferences ) Tj ET Q q 0 0 0 rg BT 380.23 518.30 Td (are ) Tj ET Q q 0 0 0 rg BT 392.50 518.30 Td (expected ) Tj ET Q q 0 0 0 rg BT 423.43 518.30 Td (to ) Tj ET Q q 0 0 0 rg BT 432.15 518.30 Td (be ) Tj ET Q q 0 0 0 rg BT 442.21 518.30 Td (recovered ) Tj ET Q q 0 0 0 rg BT 476.24 518.30 Td (or ) Tj ET Q q 0 0 0 rg BT 485.41 518.30 Td (settled. ) Tj ET Q q 0 0 0 rg BT 510.62 518.30 Td (W) Tj ET Q q 0 0 0 rg BT 517.53 518.30 Td (e ) Tj ET Q q 0 0 0 rg BT 523.58 518.30 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 552.73 518.30 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 508.70 Td (realizability ) Tj ET Q q 0 0 0 rg BT 89.98 508.70 Td (of ) Tj ET Q q 0 0 0 rg BT 98.92 508.70 Td (our ) Tj ET Q q 0 0 0 rg BT 111.87 508.70 Td (deferred ) Tj ET Q q 0 0 0 rg BT 140.79 508.70 Td (tax ) Tj ET Q q 0 0 0 rg BT 152.84 508.70 Td (assets ) Tj ET Q q 0 0 0 rg BT 173.78 508.70 Td (and ) Tj ET Q q 0 0 0 rg BT 187.61 508.70 Td (establish ) Tj ET Q q 0 0 0 rg BT 217.89 508.70 Td (a ) Tj ET Q q 0 0 0 rg BT 223.72 508.70 Td (valuation ) Tj ET Q q 0 0 0 rg BT 255.76 508.70 Td (allowance ) Tj ET Q q 0 0 0 rg BT 290.47 508.70 Td (when ) Tj ET Q q 0 0 0 rg BT 310.07 508.70 Td (it ) Tj ET Q q 0 0 0 rg BT 316.80 508.70 Td (is ) Tj ET Q q 0 0 0 rg BT 324.41 508.70 Td (more ) Tj ET Q q 0 0 0 rg BT 343.13 508.70 Td (likely ) Tj ET Q q 0 0 0 rg BT 363.63 508.70 Td (than ) Tj ET Q q 0 0 0 rg BT 379.68 508.70 Td (not ) Tj ET Q q 0 0 0 rg BT 392.18 508.70 Td (that ) Tj ET Q q 0 0 0 rg BT 406.45 508.70 Td (all ) Tj ET Q q 0 0 0 rg BT 416.73 508.70 Td (or ) Tj ET Q q 0 0 0 rg BT 425.67 508.70 Td (a ) Tj ET Q q 0 0 0 rg BT 431.50 508.70 Td (portion ) Tj ET Q q 0 0 0 rg BT 456.89 508.70 Td (of ) Tj ET Q q 0 0 0 rg BT 465.83 508.70 Td (deferred ) Tj ET Q q 0 0 0 rg BT 494.75 508.70 Td (tax ) Tj ET Q q 0 0 0 rg BT 506.80 508.70 Td (assets ) Tj ET Q q 0 0 0 rg BT 527.75 508.70 Td (will ) Tj ET Q q 0 0 0 rg BT 542.47 508.70 Td (not ) Tj ET Q q 0 0 0 rg BT 554.97 508.70 Td (be ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 499.10 Td (realized.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 483.50 Td (In ) Tj ET Q q 0 0 0 rg BT 58.44 483.50 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 94.04 483.50 Td (the ) Tj ET Q q 0 0 0 rg BT 106.09 483.50 Td (realizability ) Tj ET Q q 0 0 0 rg BT 146.57 483.50 Td (of ) Tj ET Q q 0 0 0 rg BT 155.51 483.50 Td (our ) Tj ET Q q 0 0 0 rg BT 168.45 483.50 Td (deferred ) Tj ET Q q 0 0 0 rg BT 197.37 483.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 209.42 483.50 Td (assets, ) Tj ET Q q 0 0 0 rg BT 232.36 483.50 Td (we ) Tj ET Q q 0 0 0 rg BT 243.96 483.50 Td (consider ) Tj ET Q q 0 0 0 rg BT 273.34 483.50 Td (all ) Tj ET Q q 0 0 0 rg BT 283.61 483.50 Td (available ) Tj ET Q q 0 0 0 rg BT 314.76 483.50 Td (positive ) Tj ET Q q 0 0 0 rg BT 342.37 483.50 Td (and ) Tj ET Q q 0 0 0 rg BT 356.20 483.50 Td (negative ) Tj ET Q q 0 0 0 rg BT 385.57 483.50 Td (evidence, ) Tj ET Q q 0 0 0 rg BT 418.27 483.50 Td (including ) Tj ET Q q 0 0 0 rg BT 450.77 483.50 Td (future ) Tj ET Q q 0 0 0 rg BT 472.15 483.50 Td (reversals ) Tj ET Q q 0 0 0 rg BT 502.85 483.50 Td (of ) Tj ET Q q 0 0 0 rg BT 511.79 483.50 Td (existing ) Tj ET Q q 0 0 0 rg BT 539.40 483.50 Td (taxable ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 473.90 Td (temporary ) Tj ET Q q 0 0 0 rg BT 84.21 473.90 Td (dif) Tj ET Q q 0 0 0 rg BT 92.95 473.90 Td (ferences, ) Tj ET Q q 0 0 0 rg BT 123.43 473.90 Td (projected ) Tj ET Q q 0 0 0 rg BT 155.03 473.90 Td (future ) Tj ET Q q 0 0 0 rg BT 175.96 473.90 Td (taxable ) Tj ET Q q 0 0 0 rg BT 200.90 473.90 Td (income, ) Tj ET Q q 0 0 0 rg BT 228.28 473.90 Td (tax ) Tj ET Q q 0 0 0 rg BT 239.89 473.90 Td (planning ) Tj ET Q q 0 0 0 rg BT 269.72 473.90 Td (strategies ) Tj ET Q q 0 0 0 rg BT 301.76 473.90 Td (and ) Tj ET Q q 0 0 0 rg BT 315.15 473.90 Td (recent ) Tj ET Q q 0 0 0 rg BT 336.52 473.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 366.34 473.90 Td (operations. ) Tj ET Q q 0 0 0 rg BT 403.10 473.90 Td (Any ) Tj ET Q q 0 0 0 rg BT 418.71 473.90 Td (reduction ) Tj ET Q q 0 0 0 rg BT 450.76 473.90 Td (in ) Tj ET Q q 0 0 0 rg BT 458.81 473.90 Td (estimated ) Tj ET Q q 0 0 0 rg BT 491.31 473.90 Td (forecasted ) Tj ET Q q 0 0 0 rg BT 526.01 473.90 Td (results ) Tj ET Q q 0 0 0 rg BT 548.73 473.90 Td (may ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 464.30 Td (require ) Tj ET Q q 0 0 0 rg BT 73.90 464.30 Td (that ) Tj ET Q q 0 0 0 rg BT 87.65 464.30 Td (we ) Tj ET Q q 0 0 0 rg BT 98.73 464.30 Td (record ) Tj ET Q q 0 0 0 rg BT 120.91 464.30 Td (additional ) Tj ET Q q 0 0 0 rg BT 154.66 464.30 Td (valuation ) Tj ET Q q 0 0 0 rg BT 186.18 464.30 Td (allowances ) Tj ET Q q 0 0 0 rg BT 223.47 464.30 Td (against ) Tj ET Q q 0 0 0 rg BT 247.88 464.30 Td (our ) Tj ET Q q 0 0 0 rg BT 260.30 464.30 Td (deferred ) Tj ET Q q 0 0 0 rg BT 288.70 464.30 Td (tax ) Tj ET Q q 0 0 0 rg BT 300.22 464.30 Td (assets. ) Tj ET Q q 0 0 0 rg BT 322.64 464.30 Td (Once ) Tj ET Q q 0 0 0 rg BT 341.27 464.30 Td (a ) Tj ET Q q 0 0 0 rg BT 346.57 464.30 Td (valuation ) Tj ET Q q 0 0 0 rg BT 378.09 464.30 Td (allowance ) Tj ET Q q 0 0 0 rg BT 412.27 464.30 Td (has ) Tj ET Q q 0 0 0 rg BT 424.69 464.30 Td (been ) Tj ET Q q 0 0 0 rg BT 441.54 464.30 Td (established, ) Tj ET Q q 0 0 0 rg BT 480.84 464.30 Td (it ) Tj ET Q q 0 0 0 rg BT 487.04 464.30 Td (will ) Tj ET Q q 0 0 0 rg BT 501.23 464.30 Td (be ) Tj ET Q q 0 0 0 rg BT 510.54 464.30 Td (maintained ) Tj ET Q q 0 0 0 rg BT 547.83 464.30 Td (until ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 454.70 Td (there ) Tj ET Q q 0 0 0 rg BT 67.60 454.70 Td (is ) Tj ET Q q 0 0 0 rg BT 75.04 454.70 Td (suf) Tj ET Q q 0 0 0 rg BT 84.68 454.70 Td (ficient ) Tj ET Q q 0 0 0 rg BT 107.22 454.70 Td (positive ) Tj ET Q q 0 0 0 rg BT 134.66 454.70 Td (evidence ) Tj ET Q q 0 0 0 rg BT 165.20 454.70 Td (to ) Tj ET Q q 0 0 0 rg BT 173.53 454.70 Td (conclude ) Tj ET Q q 0 0 0 rg BT 204.51 454.70 Td (that ) Tj ET Q q 0 0 0 rg BT 218.62 454.70 Td (it ) Tj ET Q q 0 0 0 rg BT 225.17 454.70 Td (is ) Tj ET Q q 0 0 0 rg BT 232.62 454.70 Td (more ) Tj ET Q q 0 0 0 rg BT 251.16 454.70 Td (likely ) Tj ET Q q 0 0 0 rg BT 271.49 454.70 Td (than ) Tj ET Q q 0 0 0 rg BT 287.38 454.70 Td (not ) Tj ET Q q 0 0 0 rg BT 299.71 454.70 Td (that ) Tj ET Q q 0 0 0 rg BT 313.81 454.70 Td (such ) Tj ET Q q 0 0 0 rg BT 330.59 454.70 Td (assets ) Tj ET Q q 0 0 0 rg BT 351.36 454.70 Td (will ) Tj ET Q q 0 0 0 rg BT 365.91 454.70 Td (be ) Tj ET Q q 0 0 0 rg BT 375.57 454.70 Td (realized. ) Tj ET Q q 0 0 0 rg BT 404.53 454.70 Td (An ) Tj ET Q q 0 0 0 rg BT 416.42 454.70 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 444.75 454.70 Td (pattern ) Tj ET Q q 0 0 0 rg BT 469.07 454.70 Td (of ) Tj ET Q q 0 0 0 rg BT 477.84 454.70 Td (sustained ) Tj ET Q q 0 0 0 rg BT 509.73 454.70 Td (profitability ) Tj ET Q q 0 0 0 rg BT 550.05 454.70 Td (will ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 445.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 81.40 445.10 Td (be ) Tj ET Q q 0 0 0 rg BT 91.09 445.10 Td (considered ) Tj ET Q q 0 0 0 rg BT 127.88 445.10 Td (as ) Tj ET Q q 0 0 0 rg BT 136.68 445.10 Td (suf) Tj ET Q q 0 0 0 rg BT 146.31 445.10 Td (ficient ) Tj ET Q q 0 0 0 rg BT 168.88 445.10 Td (positive ) Tj ET Q q 0 0 0 rg BT 196.35 445.10 Td (evidence. ) Tj ET Q q 0 0 0 rg BT 228.91 445.10 Td (If ) Tj ET Q q 0 0 0 rg BT 236.38 445.10 Td (the ) Tj ET Q q 0 0 0 rg BT 248.29 445.10 Td (allowance ) Tj ET Q q 0 0 0 rg BT 282.85 445.10 Td (is ) Tj ET Q q 0 0 0 rg BT 290.32 445.10 Td (reversed ) Tj ET Q q 0 0 0 rg BT 319.55 445.10 Td (in ) Tj ET Q q 0 0 0 rg BT 327.91 445.10 Td (a ) Tj ET Q q 0 0 0 rg BT 333.60 445.10 Td (future ) Tj ET Q q 0 0 0 rg BT 354.84 445.10 Td (period, ) Tj ET Q q 0 0 0 rg BT 379.41 445.10 Td (our ) Tj ET Q q 0 0 0 rg BT 392.21 445.10 Td (income ) Tj ET Q q 0 0 0 rg BT 417.89 445.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 429.80 445.10 Td (provision ) Tj ET Q q 0 0 0 rg BT 462.16 445.10 Td (will ) Tj ET Q q 0 0 0 rg BT 476.75 445.10 Td (be ) Tj ET Q q 0 0 0 rg BT 486.43 445.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 513.89 445.10 Td (to ) Tj ET Q q 0 0 0 rg BT 522.25 445.10 Td (the ) Tj ET Q q 0 0 0 rg BT 534.16 445.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 555.84 445.10 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 435.50 Td (the ) Tj ET Q q 0 0 0 rg BT 61.26 435.50 Td (reversal. ) Tj ET Q q 0 0 0 rg BT 90.12 435.50 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 129.59 435.50 Td (, ) Tj ET Q q 0 0 0 rg BT 133.58 435.50 Td (the ) Tj ET Q q 0 0 0 rg BT 145.34 435.50 Td (establishment ) Tj ET Q q 0 0 0 rg BT 191.32 435.50 Td (and ) Tj ET Q q 0 0 0 rg BT 204.85 435.50 Td (reversal ) Tj ET Q q 0 0 0 rg BT 232.16 435.50 Td (of ) Tj ET Q q 0 0 0 rg BT 240.81 435.50 Td (valuation ) Tj ET Q q 0 0 0 rg BT 272.56 435.50 Td (allowances ) Tj ET Q q 0 0 0 rg BT 310.09 435.50 Td (has ) Tj ET Q q 0 0 0 rg BT 322.74 435.50 Td (had ) Tj ET Q q 0 0 0 rg BT 336.28 435.50 Td (and ) Tj ET Q q 0 0 0 rg BT 349.81 435.50 Td (could ) Tj ET Q q 0 0 0 rg BT 369.57 435.50 Td (continue ) Tj ET Q q 0 0 0 rg BT 399.11 435.50 Td (to ) Tj ET Q q 0 0 0 rg BT 407.32 435.50 Td (have ) Tj ET Q q 0 0 0 rg BT 424.40 435.50 Td (a ) Tj ET Q q 0 0 0 rg BT 429.94 435.50 Td (significant ) Tj ET Q q 0 0 0 rg BT 465.70 435.50 Td (negative ) Tj ET Q q 0 0 0 rg BT 494.78 435.50 Td (or ) Tj ET Q q 0 0 0 rg BT 503.43 435.50 Td (positive ) Tj ET Q q 0 0 0 rg BT 530.75 435.50 Td (impact ) Tj ET Q q 0 0 0 rg BT 554.50 435.50 Td (on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 425.90 Td (our ) Tj ET Q q 0 0 0 rg BT 62.16 425.90 Td (future ) Tj ET Q q 0 0 0 rg BT 83.27 425.90 Td (earnings.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 410.30 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 410.30 Td (e ) Tj ET Q q 0 0 0 rg BT 62.12 410.30 Td (measure ) Tj ET Q q 0 0 0 rg BT 90.93 410.30 Td (deferred ) Tj ET Q q 0 0 0 rg BT 119.73 410.30 Td (tax ) Tj ET Q q 0 0 0 rg BT 131.66 410.30 Td (assets ) Tj ET Q q 0 0 0 rg BT 152.48 410.30 Td (and ) Tj ET Q q 0 0 0 rg BT 166.18 410.30 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 198.11 410.30 Td (using ) Tj ET Q q 0 0 0 rg BT 217.61 410.30 Td (enacted ) Tj ET Q q 0 0 0 rg BT 244.19 410.30 Td (tax ) Tj ET Q q 0 0 0 rg BT 256.12 410.30 Td (rates ) Tj ET Q q 0 0 0 rg BT 273.38 410.30 Td (that, ) Tj ET Q q 0 0 0 rg BT 289.53 410.30 Td (if ) Tj ET Q q 0 0 0 rg BT 296.57 410.30 Td (changed, ) Tj ET Q q 0 0 0 rg BT 327.38 410.30 Td (would ) Tj ET Q q 0 0 0 rg BT 349.54 410.30 Td (result ) Tj ET Q q 0 0 0 rg BT 369.46 410.30 Td (in ) Tj ET Q q 0 0 0 rg BT 377.84 410.30 Td (either ) Tj ET Q q 0 0 0 rg BT 398.21 410.30 Td (an ) Tj ET Q q 0 0 0 rg BT 407.92 410.30 Td (increase ) Tj ET Q q 0 0 0 rg BT 436.28 410.30 Td (or ) Tj ET Q q 0 0 0 rg BT 445.10 410.30 Td (decrease ) Tj ET Q q 0 0 0 rg BT 474.79 410.30 Td (in ) Tj ET Q q 0 0 0 rg BT 483.16 410.30 Td (the ) Tj ET Q q 0 0 0 rg BT 495.09 410.30 Td (provision ) Tj ET Q q 0 0 0 rg BT 527.47 410.30 Td (for ) Tj ET Q q 0 0 0 rg BT 538.96 410.30 Td (income ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 400.70 Td (taxes ) Tj ET Q q 0 0 0 rg BT 67.94 400.70 Td (in ) Tj ET Q q 0 0 0 rg BT 76.16 400.70 Td (the ) Tj ET Q q 0 0 0 rg BT 87.93 400.70 Td (period ) Tj ET Q q 0 0 0 rg BT 110.37 400.70 Td (of ) Tj ET Q q 0 0 0 rg BT 119.04 400.70 Td (change.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 385.10 Td (From ) Tj ET Q q 0 0 0 rg BT 69.46 385.10 Td (time ) Tj ET Q q 0 0 0 rg BT 86.30 385.10 Td (to ) Tj ET Q q 0 0 0 rg BT 95.14 385.10 Td (time, ) Tj ET Q q 0 0 0 rg BT 113.98 385.10 Td (we ) Tj ET Q q 0 0 0 rg BT 125.93 385.10 Td (engage ) Tj ET Q q 0 0 0 rg BT 151.20 385.10 Td (in ) Tj ET Q q 0 0 0 rg BT 160.05 385.10 Td (transactions, ) Tj ET Q q 0 0 0 rg BT 202.88 385.10 Td (such ) Tj ET Q q 0 0 0 rg BT 220.16 385.10 Td (as ) Tj ET Q q 0 0 0 rg BT 229.45 385.10 Td (business ) Tj ET Q q 0 0 0 rg BT 259.18 385.10 Td (combinations ) Tj ET Q q 0 0 0 rg BT 304.91 385.10 Td (and ) Tj ET Q q 0 0 0 rg BT 319.08 385.10 Td (dispositions, ) Tj ET Q q 0 0 0 rg BT 361.93 385.10 Td (in ) Tj ET Q q 0 0 0 rg BT 370.78 385.10 Td (which ) Tj ET Q q 0 0 0 rg BT 392.95 385.10 Td (the ) Tj ET Q q 0 0 0 rg BT 405.34 385.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 417.74 385.10 Td (consequences ) Tj ET Q q 0 0 0 rg BT 464.34 385.10 Td (may ) Tj ET Q q 0 0 0 rg BT 480.73 385.10 Td (be ) Tj ET Q q 0 0 0 rg BT 490.91 385.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 516.19 385.10 Td (to ) Tj ET Q q 0 0 0 rg BT 525.03 385.10 Td (uncertainty) Tj ET Q q 0 0 0 rg BT 560.50 385.10 Td (. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 375.50 Td (Significant ) Tj ET Q q 0 0 0 rg BT 86.50 375.50 Td (judgment ) Tj ET Q q 0 0 0 rg BT 118.61 375.50 Td (is ) Tj ET Q q 0 0 0 rg BT 125.83 375.50 Td (required ) Tj ET Q q 0 0 0 rg BT 154.38 375.50 Td (in ) Tj ET Q q 0 0 0 rg BT 162.49 375.50 Td (assessing ) Tj ET Q q 0 0 0 rg BT 194.16 375.50 Td (and ) Tj ET Q q 0 0 0 rg BT 207.60 375.50 Td (estimating ) Tj ET Q q 0 0 0 rg BT 242.82 375.50 Td (the ) Tj ET Q q 0 0 0 rg BT 254.49 375.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 266.15 375.50 Td (consequences ) Tj ET Q q 0 0 0 rg BT 312.03 375.50 Td (of ) Tj ET Q q 0 0 0 rg BT 320.58 375.50 Td (these ) Tj ET Q q 0 0 0 rg BT 338.91 375.50 Td (transactions. ) Tj ET Q q 0 0 0 rg BT 380.88 375.50 Td (W) Tj ET Q q 0 0 0 rg BT 387.79 375.50 Td (e ) Tj ET Q q 0 0 0 rg BT 393.23 375.50 Td (prepare ) Tj ET Q q 0 0 0 rg BT 419.10 375.50 Td (and ) Tj ET Q q 0 0 0 rg BT 432.54 375.50 Td (file ) Tj ET Q q 0 0 0 rg BT 445.10 375.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 456.76 375.50 Td (returns ) Tj ET Q q 0 0 0 rg BT 480.87 375.50 Td (based ) Tj ET Q q 0 0 0 rg BT 500.97 375.50 Td (on ) Tj ET Q q 0 0 0 rg BT 510.87 375.50 Td (interpretation ) Tj ET Q q 0 0 0 rg BT 555.85 375.50 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 365.90 Td (tax ) Tj ET Q q 0 0 0 rg BT 61.16 365.90 Td (laws ) Tj ET Q q 0 0 0 rg BT 77.72 365.90 Td (and ) Tj ET Q q 0 0 0 rg BT 91.16 365.90 Td (regulations. ) Tj ET Q q 0 0 0 rg BT 130.59 365.90 Td (In ) Tj ET Q q 0 0 0 rg BT 139.15 365.90 Td (the ) Tj ET Q q 0 0 0 rg BT 150.81 365.90 Td (normal ) Tj ET Q q 0 0 0 rg BT 175.36 365.90 Td (course ) Tj ET Q q 0 0 0 rg BT 198.13 365.90 Td (of ) Tj ET Q q 0 0 0 rg BT 206.68 365.90 Td (business, ) Tj ET Q q 0 0 0 rg BT 237.69 365.90 Td (our ) Tj ET Q q 0 0 0 rg BT 250.24 365.90 Td (tax ) Tj ET Q q 0 0 0 rg BT 261.90 365.90 Td (returns ) Tj ET Q q 0 0 0 rg BT 286.01 365.90 Td (are ) Tj ET Q q 0 0 0 rg BT 297.66 365.90 Td (subject ) Tj ET Q q 0 0 0 rg BT 322.21 365.90 Td (to ) Tj ET Q q 0 0 0 rg BT 330.32 365.90 Td (examination ) Tj ET Q q 0 0 0 rg BT 371.76 365.90 Td (by ) Tj ET Q q 0 0 0 rg BT 381.65 365.90 Td (various ) Tj ET Q q 0 0 0 rg BT 407.09 365.90 Td (taxing ) Tj ET Q q 0 0 0 rg BT 428.97 365.90 Td (authorities. ) Tj ET Q q 0 0 0 rg BT 466.63 365.90 Td (Such ) Tj ET Q q 0 0 0 rg BT 484.52 365.90 Td (examinations ) Tj ET Q q 0 0 0 rg BT 529.07 365.90 Td (may ) Tj ET Q q 0 0 0 rg BT 544.73 365.90 Td (result ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 356.30 Td (in ) Tj ET Q q 0 0 0 rg BT 57.67 356.30 Td (future ) Tj ET Q q 0 0 0 rg BT 78.72 356.30 Td (tax ) Tj ET Q q 0 0 0 rg BT 90.44 356.30 Td (and ) Tj ET Q q 0 0 0 rg BT 103.94 356.30 Td (interest ) Tj ET Q q 0 0 0 rg BT 129.43 356.30 Td (assessments ) Tj ET Q q 0 0 0 rg BT 170.04 356.30 Td (by ) Tj ET Q q 0 0 0 rg BT 179.99 356.30 Td (these ) Tj ET Q q 0 0 0 rg BT 198.38 356.30 Td (taxing ) Tj ET Q q 0 0 0 rg BT 220.32 356.30 Td (authorities. ) Tj ET Q q 0 0 0 rg BT 257.89 356.30 Td (W) Tj ET Q q 0 0 0 rg BT 264.80 356.30 Td (e ) Tj ET Q q 0 0 0 rg BT 270.30 356.30 Td (only ) Tj ET Q q 0 0 0 rg BT 286.47 356.30 Td (recognize ) Tj ET Q q 0 0 0 rg BT 319.51 356.30 Td (tax ) Tj ET Q q 0 0 0 rg BT 331.23 356.30 Td (benefits ) Tj ET Q q 0 0 0 rg BT 358.50 356.30 Td (taken ) Tj ET Q q 0 0 0 rg BT 377.77 356.30 Td (on ) Tj ET Q q 0 0 0 rg BT 387.72 356.30 Td (tax ) Tj ET Q q 0 0 0 rg BT 399.44 356.30 Td (returns ) Tj ET Q q 0 0 0 rg BT 423.60 356.30 Td (when ) Tj ET Q q 0 0 0 rg BT 442.88 356.30 Td (we ) Tj ET Q q 0 0 0 rg BT 454.15 356.30 Td (believe ) Tj ET Q q 0 0 0 rg BT 479.20 356.30 Td (they ) Tj ET Q q 0 0 0 rg BT 494.92 356.30 Td (are ) Tj ET Q q 0 0 0 rg BT 506.63 356.30 Td (more ) Tj ET Q q 0 0 0 rg BT 528.57 356.30 Td (likely ) Tj ET Q q 0 0 0 rg BT 548.73 356.30 Td (than ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 346.70 Td (not ) Tj ET Q q 0 0 0 rg BT 65.12 346.70 Td (of ) Tj ET Q q 0 0 0 rg BT 73.63 346.70 Td (being ) Tj ET Q q 0 0 0 rg BT 93.25 346.70 Td (sustained ) Tj ET Q q 0 0 0 rg BT 124.87 346.70 Td (upon ) Tj ET Q q 0 0 0 rg BT 142.71 346.70 Td (examination ) Tj ET Q q 0 0 0 rg BT 184.10 346.70 Td (based ) Tj ET Q q 0 0 0 rg BT 204.16 346.70 Td (on ) Tj ET Q q 0 0 0 rg BT 214.01 346.70 Td (their ) Tj ET Q q 0 0 0 rg BT 230.51 346.70 Td (technical ) Tj ET Q q 0 0 0 rg BT 261.23 346.70 Td (merits. ) Tj ET Q q 0 0 0 rg BT 284.94 346.70 Td (There ) Tj ET Q q 0 0 0 rg BT 305.44 346.70 Td (is ) Tj ET Q q 0 0 0 rg BT 312.62 346.70 Td (considerable ) Tj ET Q q 0 0 0 rg BT 354.89 346.70 Td (judgment ) Tj ET Q q 0 0 0 rg BT 386.95 346.70 Td (involved ) Tj ET Q q 0 0 0 rg BT 416.80 346.70 Td (in ) Tj ET Q q 0 0 0 rg BT 424.86 346.70 Td (determining ) Tj ET Q q 0 0 0 rg BT 465.37 346.70 Td (whether ) Tj ET Q q 0 0 0 rg BT 492.98 346.70 Td (positions ) Tj ET Q q 0 0 0 rg BT 523.72 346.70 Td (taken ) Tj ET Q q 0 0 0 rg BT 542.89 346.70 Td (on ) Tj ET Q q 0 0 0 rg BT 552.73 346.70 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 337.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 61.27 337.10 Td (return ) Tj ET Q q 0 0 0 rg BT 82.38 337.10 Td (are ) Tj ET Q q 0 0 0 rg BT 94.14 337.10 Td (more ) Tj ET Q q 0 0 0 rg BT 116.13 337.10 Td (likely ) Tj ET Q q 0 0 0 rg BT 136.35 337.10 Td (than ) Tj ET Q q 0 0 0 rg BT 152.12 337.10 Td (not ) Tj ET Q q 0 0 0 rg BT 167.89 337.10 Td (of ) Tj ET Q q 0 0 0 rg BT 176.56 337.10 Td (being ) Tj ET Q q 0 0 0 rg BT 196.33 337.10 Td (sustained.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 321.50 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 321.50 Td (e ) Tj ET Q q 0 0 0 rg BT 62.45 321.50 Td (recognize, ) Tj ET Q q 0 0 0 rg BT 98.04 321.50 Td (when ) Tj ET Q q 0 0 0 rg BT 117.86 321.50 Td (applicable, ) Tj ET Q q 0 0 0 rg BT 155.22 321.50 Td (both ) Tj ET Q q 0 0 0 rg BT 171.93 321.50 Td (accrued ) Tj ET Q q 0 0 0 rg BT 199.29 321.50 Td (interest ) Tj ET Q q 0 0 0 rg BT 225.33 321.50 Td (and ) Tj ET Q q 0 0 0 rg BT 239.38 321.50 Td (penalties ) Tj ET Q q 0 0 0 rg BT 270.30 321.50 Td (related ) Tj ET Q q 0 0 0 rg BT 294.55 321.50 Td (to ) Tj ET Q q 0 0 0 rg BT 303.27 321.50 Td (unrecognized ) Tj ET Q q 0 0 0 rg BT 348.85 321.50 Td (benefits ) Tj ET Q q 0 0 0 rg BT 376.67 321.50 Td (in ) Tj ET Q q 0 0 0 rg BT 385.38 321.50 Td (income ) Tj ET Q q 0 0 0 rg BT 411.42 321.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 423.69 321.50 Td (expense ) Tj ET Q q 0 0 0 rg BT 451.95 321.50 Td (in ) Tj ET Q q 0 0 0 rg BT 460.66 321.50 Td (the ) Tj ET Q q 0 0 0 rg BT 472.93 321.50 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 522.07 321.50 Td (consolidated ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 311.90 Td (statements ) Tj ET Q q 0 0 0 rg BT 85.27 311.90 Td (of ) Tj ET Q q 0 0 0 rg BT 93.93 311.90 Td (operations ) Tj ET Q q 0 0 0 rg BT 129.26 311.90 Td (and ) Tj ET Q q 0 0 0 rg BT 142.81 311.90 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 193.23 311.90 Td (income.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 293.30 Td (For) Tj ET Q q 0 0 0 rg BT 61.20 293.30 Td (eign ) Tj ET Q q 0 0 0 rg BT 76.98 293.30 Td (exchange) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 277.70 Td (Our ) Tj ET Q q 0 0 0 rg BT 63.55 277.70 Td (reporting ) Tj ET Q q 0 0 0 rg BT 94.48 277.70 Td (currency ) Tj ET Q q 0 0 0 rg BT 124.06 277.70 Td (is ) Tj ET Q q 0 0 0 rg BT 131.00 277.70 Td (the ) Tj ET Q q 0 0 0 rg BT 142.38 277.70 Td (dollar ) Tj ET Q q 0 0 0 rg BT 162.65 277.70 Td (but ) Tj ET Q q 0 0 0 rg BT 174.48 277.70 Td (a ) Tj ET Q q 0 0 0 rg BT 179.63 277.70 Td (significant ) Tj ET Q q 0 0 0 rg BT 215.01 277.70 Td (portion ) Tj ET Q q 0 0 0 rg BT 239.72 277.70 Td (of ) Tj ET Q q 0 0 0 rg BT 247.99 277.70 Td (our ) Tj ET Q q 0 0 0 rg BT 260.26 277.70 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 302.30 277.70 Td (revenues ) Tj ET Q q 0 0 0 rg BT 332.34 277.70 Td (and ) Tj ET Q q 0 0 0 rg BT 345.49 277.70 Td (costs ) Tj ET Q q 0 0 0 rg BT 363.10 277.70 Td (are ) Tj ET Q q 0 0 0 rg BT 374.47 277.70 Td (in ) Tj ET Q q 0 0 0 rg BT 382.30 277.70 Td (other ) Tj ET Q q 0 0 0 rg BT 400.34 277.70 Td (currencies, ) Tj ET Q q 0 0 0 rg BT 436.81 277.70 Td (including ) Tj ET Q q 0 0 0 rg BT 468.64 277.70 Td (programming ) Tj ET Q q 0 0 0 rg BT 513.79 277.70 Td (rights ) Tj ET Q q 0 0 0 rg BT 533.62 277.70 Td (expenses ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 268.10 Td (and ) Tj ET Q q 0 0 0 rg BT 62.89 268.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 88.28 268.10 Td (on ) Tj ET Q q 0 0 0 rg BT 98.11 268.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 121.71 268.10 Td (of ) Tj ET Q q 0 0 0 rg BT 130.22 268.10 Td (our ) Tj ET Q q 0 0 0 rg BT 142.72 268.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 165.45 268.10 Td (Debt, ) Tj ET Q q 0 0 0 rg BT 184.84 268.10 Td (which ) Tj ET Q q 0 0 0 rg BT 206.23 268.10 Td (is ) Tj ET Q q 0 0 0 rg BT 213.40 268.10 Td (denominated ) Tj ET Q q 0 0 0 rg BT 256.56 268.10 Td (in ) Tj ET Q q 0 0 0 rg BT 264.62 268.10 Td (Euros. ) Tj ET Q q 0 0 0 rg BT 287.12 268.10 Td (CME ) Tj ET Q q 0 0 0 rg BT 306.30 268.10 Td (Ltd. ) Tj ET Q q 0 0 0 rg BT 321.25 268.10 Td (has ) Tj ET Q q 0 0 0 rg BT 333.75 268.10 Td (a ) Tj ET Q q 0 0 0 rg BT 339.14 268.10 Td (functional ) Tj ET Q q 0 0 0 rg BT 373.41 268.10 Td (currency ) Tj ET Q q 0 0 0 rg BT 403.23 268.10 Td (of ) Tj ET Q q 0 0 0 rg BT 411.73 268.10 Td (the ) Tj ET Q q 0 0 0 rg BT 423.35 268.10 Td (dollar) Tj ET Q q 0 0 0 rg BT 441.57 268.10 Td (. ) Tj ET Q q 0 0 0 rg BT 445.40 268.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 459.68 268.10 Td (other ) Tj ET Q q 0 0 0 rg BT 477.96 268.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 513.12 268.10 Td (have ) Tj ET Q q 0 0 0 rg BT 530.06 268.10 Td (functional ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 258.50 Td (currencies ) Tj ET Q q 0 0 0 rg BT 84.37 258.50 Td (other ) Tj ET Q q 0 0 0 rg BT 102.80 258.50 Td (than ) Tj ET Q q 0 0 0 rg BT 118.58 258.50 Td (the ) Tj ET Q q 0 0 0 rg BT 130.35 258.50 Td (dollar) Tj ET Q q 0 0 0 rg BT 148.57 258.50 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 242.90 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 242.90 Td (e ) Tj ET Q q 0 0 0 rg BT 62.01 242.90 Td (record ) Tj ET Q q 0 0 0 rg BT 84.49 242.90 Td (assets ) Tj ET Q q 0 0 0 rg BT 105.20 242.90 Td (and ) Tj ET Q q 0 0 0 rg BT 118.80 242.90 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 150.63 242.90 Td (denominated ) Tj ET Q q 0 0 0 rg BT 194.00 242.90 Td (in ) Tj ET Q q 0 0 0 rg BT 202.27 242.90 Td (a ) Tj ET Q q 0 0 0 rg BT 207.87 242.90 Td (currency ) Tj ET Q q 0 0 0 rg BT 237.90 242.90 Td (other ) Tj ET Q q 0 0 0 rg BT 256.39 242.90 Td (than ) Tj ET Q q 0 0 0 rg BT 272.21 242.90 Td (our ) Tj ET Q q 0 0 0 rg BT 284.93 242.90 Td (functional ) Tj ET Q q 0 0 0 rg BT 319.41 242.90 Td (currency ) Tj ET Q q 0 0 0 rg BT 349.44 242.90 Td (using ) Tj ET Q q 0 0 0 rg BT 368.83 242.90 Td (the ) Tj ET Q q 0 0 0 rg BT 380.65 242.90 Td (exchange ) Tj ET Q q 0 0 0 rg BT 412.90 242.90 Td (rate ) Tj ET Q q 0 0 0 rg BT 426.94 242.90 Td (prevailing ) Tj ET Q q 0 0 0 rg BT 461.42 242.90 Td (at ) Tj ET Q q 0 0 0 rg BT 469.25 242.90 Td (each ) Tj ET Q q 0 0 0 rg BT 485.95 242.90 Td (balance ) Tj ET Q q 0 0 0 rg BT 512.42 242.90 Td (sheet ) Tj ET Q q 0 0 0 rg BT 530.91 242.90 Td (date, ) Tj ET Q q 0 0 0 rg BT 548.29 242.90 Td (with ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 233.30 Td (any ) Tj ET Q q 0 0 0 rg BT 63.49 233.30 Td (change ) Tj ET Q q 0 0 0 rg BT 88.58 233.30 Td (in ) Tj ET Q q 0 0 0 rg BT 97.24 233.30 Td (value ) Tj ET Q q 0 0 0 rg BT 117.00 233.30 Td (between ) Tj ET Q q 0 0 0 rg BT 146.08 233.30 Td (reporting ) Tj ET Q q 0 0 0 rg BT 177.85 233.30 Td (periods ) Tj ET Q q 0 0 0 rg BT 203.83 233.30 Td (being ) Tj ET Q q 0 0 0 rg BT 224.04 233.30 Td (recognized ) Tj ET Q q 0 0 0 rg BT 261.57 233.30 Td (as ) Tj ET Q q 0 0 0 rg BT 270.67 233.30 Td (a ) Tj ET Q q 0 0 0 rg BT 276.66 233.30 Td (transaction ) Tj ET Q q 0 0 0 rg BT 314.19 233.30 Td (gain ) Tj ET Q q 0 0 0 rg BT 330.40 233.30 Td (or ) Tj ET Q q 0 0 0 rg BT 339.50 233.30 Td (loss ) Tj ET Q q 0 0 0 rg BT 354.39 233.30 Td (in ) Tj ET Q q 0 0 0 rg BT 363.05 233.30 Td (our ) Tj ET Q q 0 0 0 rg BT 376.15 233.30 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 419.02 233.30 Td (statements ) Tj ET Q q 0 0 0 rg BT 455.22 233.30 Td (of ) Tj ET Q q 0 0 0 rg BT 464.32 233.30 Td (operations ) Tj ET Q q 0 0 0 rg BT 500.08 233.30 Td (and ) Tj ET Q q 0 0 0 rg BT 514.07 233.30 Td (comprehensive ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 223.70 Td (income. ) Tj ET Q q 0 0 0 rg BT 76.53 223.70 Td (W) Tj ET Q q 0 0 0 rg BT 83.44 223.70 Td (e ) Tj ET Q q 0 0 0 rg BT 88.60 223.70 Td (are ) Tj ET Q q 0 0 0 rg BT 99.97 223.70 Td (exposed ) Tj ET Q q 0 0 0 rg BT 127.78 223.70 Td (to ) Tj ET Q q 0 0 0 rg BT 135.61 223.70 Td (foreign ) Tj ET Q q 0 0 0 rg BT 160.31 223.70 Td (currency ) Tj ET Q q 0 0 0 rg BT 189.90 223.70 Td (on ) Tj ET Q q 0 0 0 rg BT 199.50 223.70 Td (the ) Tj ET Q q 0 0 0 rg BT 210.87 223.70 Td (revaluation ) Tj ET Q q 0 0 0 rg BT 248.46 223.70 Td (of ) Tj ET Q q 0 0 0 rg BT 256.73 223.70 Td (monetary ) Tj ET Q q 0 0 0 rg BT 288.54 223.70 Td (assets ) Tj ET Q q 0 0 0 rg BT 308.81 223.70 Td (and ) Tj ET Q q 0 0 0 rg BT 321.96 223.70 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 353.34 223.70 Td (denominated ) Tj ET Q q 0 0 0 rg BT 396.26 223.70 Td (in ) Tj ET Q q 0 0 0 rg BT 404.08 223.70 Td (currencies ) Tj ET Q q 0 0 0 rg BT 438.55 223.70 Td (other ) Tj ET Q q 0 0 0 rg BT 456.59 223.70 Td (than ) Tj ET Q q 0 0 0 rg BT 471.97 223.70 Td (the ) Tj ET Q q 0 0 0 rg BT 483.35 223.70 Td (local ) Tj ET Q q 0 0 0 rg BT 500.50 223.70 Td (functional ) Tj ET Q q 0 0 0 rg BT 534.53 223.70 Td (currency ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 214.10 Td (of ) Tj ET Q q 0 0 0 rg BT 57.72 214.10 Td (the ) Tj ET Q q 0 0 0 rg BT 69.05 214.10 Td (relevant ) Tj ET Q q 0 0 0 rg BT 96.37 214.10 Td (subsidiary) Tj ET Q q 0 0 0 rg BT 128.73 214.10 Td (. ) Tj ET Q q 0 0 0 rg BT 132.18 214.10 Td (This ) Tj ET Q q 0 0 0 rg BT 147.96 214.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 176.17 214.10 Td (third ) Tj ET Q q 0 0 0 rg BT 192.84 214.10 Td (party ) Tj ET Q q 0 0 0 rg BT 210.83 214.10 Td (receivables ) Tj ET Q q 0 0 0 rg BT 248.36 214.10 Td (and ) Tj ET Q q 0 0 0 rg BT 261.47 214.10 Td (payables, ) Tj ET Q q 0 0 0 rg BT 293.01 214.10 Td (including ) Tj ET Q q 0 0 0 rg BT 324.79 214.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 348.10 214.10 Td (of ) Tj ET Q q 0 0 0 rg BT 356.32 214.10 Td (our ) Tj ET Q q 0 0 0 rg BT 368.54 214.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 390.99 214.10 Td (Debt ) Tj ET Q q 0 0 0 rg BT 408.09 214.10 Td (which ) Tj ET Q q 0 0 0 rg BT 429.20 214.10 Td (is ) Tj ET Q q 0 0 0 rg BT 436.09 214.10 Td (denominated ) Tj ET Q q 0 0 0 rg BT 478.97 214.10 Td (in ) Tj ET Q q 0 0 0 rg BT 486.74 214.10 Td (Euros, ) Tj ET Q q 0 0 0 rg BT 508.96 214.10 Td (as ) Tj ET Q q 0 0 0 rg BT 517.18 214.10 Td (well ) Tj ET Q q 0 0 0 rg BT 532.51 214.10 Td (as ) Tj ET Q q 0 0 0 rg BT 540.73 214.10 Td (certain ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 204.50 Td (intercompany ) Tj ET Q q 0 0 0 rg BT 95.48 204.50 Td (loans, ) Tj ET Q q 0 0 0 rg BT 116.37 204.50 Td (which ) Tj ET Q q 0 0 0 rg BT 137.92 204.50 Td (are ) Tj ET Q q 0 0 0 rg BT 149.69 204.50 Td (generally ) Tj ET Q q 0 0 0 rg BT 181.45 204.50 Td (provided ) Tj ET Q q 0 0 0 rg BT 211.89 204.50 Td (in ) Tj ET Q q 0 0 0 rg BT 220.11 204.50 Td (currencies ) Tj ET Q q 0 0 0 rg BT 254.98 204.50 Td (other ) Tj ET Q q 0 0 0 rg BT 273.41 204.50 Td (than ) Tj ET Q q 0 0 0 rg BT 289.19 204.50 Td (the ) Tj ET Q q 0 0 0 rg BT 300.96 204.50 Td (dollar) Tj ET Q q 0 0 0 rg BT 319.18 204.50 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 188.90 Td (Certain ) Tj ET Q q 0 0 0 rg BT 74.90 188.90 Td (of ) Tj ET Q q 0 0 0 rg BT 83.43 188.90 Td (our ) Tj ET Q q 0 0 0 rg BT 95.95 188.90 Td (intercompany ) Tj ET Q q 0 0 0 rg BT 141.79 188.90 Td (loans ) Tj ET Q q 0 0 0 rg BT 160.53 188.90 Td (are ) Tj ET Q q 0 0 0 rg BT 172.16 188.90 Td (considered ) Tj ET Q q 0 0 0 rg BT 208.67 188.90 Td (to ) Tj ET Q q 0 0 0 rg BT 216.75 188.90 Td (be ) Tj ET Q q 0 0 0 rg BT 226.15 188.90 Td (of ) Tj ET Q q 0 0 0 rg BT 234.68 188.90 Td (a ) Tj ET Q q 0 0 0 rg BT 240.08 188.90 Td (long-term ) Tj ET Q q 0 0 0 rg BT 273.49 188.90 Td (investment ) Tj ET Q q 0 0 0 rg BT 310.45 188.90 Td (nature ) Tj ET Q q 0 0 0 rg BT 332.30 188.90 Td (as ) Tj ET Q q 0 0 0 rg BT 340.82 188.90 Td (the ) Tj ET Q q 0 0 0 rg BT 352.45 188.90 Td (repayment ) Tj ET Q q 0 0 0 rg BT 388.07 188.90 Td (of ) Tj ET Q q 0 0 0 rg BT 396.59 188.90 Td (these ) Tj ET Q q 0 0 0 rg BT 414.88 188.90 Td (loans ) Tj ET Q q 0 0 0 rg BT 433.63 188.90 Td (is ) Tj ET Q q 0 0 0 rg BT 440.82 188.90 Td (neither ) Tj ET Q q 0 0 0 rg BT 464.89 188.90 Td (planned ) Tj ET Q q 0 0 0 rg BT 492.07 188.90 Td (nor ) Tj ET Q q 0 0 0 rg BT 504.59 188.90 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 541.54 188.90 Td (for ) Tj ET Q q 0 0 0 rg BT 552.73 188.90 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 179.30 Td (foreseeable ) Tj ET Q q 0 0 0 rg BT 87.37 179.30 Td (future. ) Tj ET Q q 0 0 0 rg BT 109.93 179.30 Td (For ) Tj ET Q q 0 0 0 rg BT 122.50 179.30 Td (the ) Tj ET Q q 0 0 0 rg BT 133.73 179.30 Td (year ) Tj ET Q q 0 0 0 rg BT 148.95 179.30 Td (ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 169.50 179.30 Td (December31, ) Tj ET Q q 0 0 0 rg BT 215.83 179.30 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.83 179.30 Td ( ) Tj ET Q q 0 0 0 rg BT 233.28 179.30 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 246.29 179.30 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 262.29 179.30 Td (, ) Tj ET Q q 0 0 0 rg BT 265.74 179.30 Td (we ) Tj ET Q q 0 0 0 rg BT 276.53 179.30 Td (recorded ) Tj ET Q q 0 0 0 rg BT 305.96 179.30 Td (foreign ) Tj ET Q q 0 0 0 rg BT 330.52 179.30 Td (exchange ) Tj ET Q q 0 0 0 rg BT 362.18 179.30 Td (losses ) Tj ET Q q 0 0 0 rg BT 382.74 179.30 Td (of ) Tj ET Q q 0 0 0 rg BT 390.86 179.30 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.54 179.30 Td (164.4million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.66 179.30 Td ( ) Tj ET Q q 0 0 0 rg BT 451.11 179.30 Td (and ) Tj ET Q q 0 0 0 rg BT 464.12 179.30 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.80 179.30 Td (16.4million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 518.91 179.30 Td (, ) Tj ET Q q 0 0 0 rg BT 522.37 179.30 Td (respectively) Tj ET Q q 0 0 0 rg BT 560.50 179.30 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 169.70 Td (on ) Tj ET Q q 0 0 0 rg BT 59.50 169.70 Td (the ) Tj ET Q q 0 0 0 rg BT 71.27 169.70 Td (retranslation ) Tj ET Q q 0 0 0 rg BT 113.26 169.70 Td (of ) Tj ET Q q 0 0 0 rg BT 121.92 169.70 Td (these ) Tj ET Q q 0 0 0 rg BT 140.36 169.70 Td (intercompany ) Tj ET Q q 0 0 0 rg BT 186.34 169.70 Td (loans ) Tj ET Q q 0 0 0 rg BT 205.23 169.70 Td (as ) Tj ET Q q 0 0 0 rg BT 213.89 169.70 Td (an ) Tj ET Q q 0 0 0 rg BT 223.45 169.70 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 260.55 169.70 Td (to ) Tj ET Q q 0 0 0 rg BT 268.77 169.70 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 311.20 169.70 Td (other ) Tj ET Q q 0 0 0 rg BT 329.63 169.70 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 380.06 169.70 Td (income, ) Tj ET Q q 0 0 0 rg BT 407.61 169.70 Td (a ) Tj ET Q q 0 0 0 rg BT 413.16 169.70 Td (component ) Tj ET Q q 0 0 0 rg BT 450.70 169.70 Td (of ) Tj ET Q q 0 0 0 rg BT 459.37 169.70 Td (shareholders' ) Tj ET Q q 0 0 0 rg BT 503.24 169.70 Td (equity) Tj ET Q q 0 0 0 rg BT 522.71 169.70 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 154.10 Td (The ) Tj ET Q q 0 0 0 rg BT 63.52 154.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 93.10 154.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 128.45 154.10 Td (of ) Tj ET Q q 0 0 0 rg BT 136.70 154.10 Td (our ) Tj ET Q q 0 0 0 rg BT 148.95 154.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 183.87 154.10 Td (whose ) Tj ET Q q 0 0 0 rg BT 205.89 154.10 Td (functional ) Tj ET Q q 0 0 0 rg BT 239.91 154.10 Td (currency ) Tj ET Q q 0 0 0 rg BT 269.48 154.10 Td (is ) Tj ET Q q 0 0 0 rg BT 276.40 154.10 Td (other ) Tj ET Q q 0 0 0 rg BT 294.43 154.10 Td (than ) Tj ET Q q 0 0 0 rg BT 309.79 154.10 Td (the ) Tj ET Q q 0 0 0 rg BT 321.15 154.10 Td (dollar ) Tj ET Q q 0 0 0 rg BT 341.40 154.10 Td (are ) Tj ET Q q 0 0 0 rg BT 352.75 154.10 Td (translated ) Tj ET Q q 0 0 0 rg BT 385.43 154.10 Td (from ) Tj ET Q q 0 0 0 rg BT 402.57 154.10 Td (such ) Tj ET Q q 0 0 0 rg BT 418.82 154.10 Td (functional ) Tj ET Q q 0 0 0 rg BT 452.84 154.10 Td (currency ) Tj ET Q q 0 0 0 rg BT 482.41 154.10 Td (to ) Tj ET Q q 0 0 0 rg BT 490.22 154.10 Td (dollars ) Tj ET Q q 0 0 0 rg BT 513.58 154.10 Td (at ) Tj ET Q q 0 0 0 rg BT 520.94 154.10 Td (the ) Tj ET Q q 0 0 0 rg BT 532.30 154.10 Td (exchange ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 144.50 Td (rates ) Tj ET Q q 0 0 0 rg BT 66.32 144.50 Td (in ) Tj ET Q q 0 0 0 rg BT 74.27 144.50 Td (ef) Tj ET Q q 0 0 0 rg BT 80.34 144.50 Td (fect ) Tj ET Q q 0 0 0 rg BT 94.04 144.50 Td (at ) Tj ET Q q 0 0 0 rg BT 101.54 144.50 Td (the ) Tj ET Q q 0 0 0 rg BT 113.03 144.50 Td (balance ) Tj ET Q q 0 0 0 rg BT 139.18 144.50 Td (sheet ) Tj ET Q q 0 0 0 rg BT 157.34 144.50 Td (date ) Tj ET Q q 0 0 0 rg BT 172.38 144.50 Td (for ) Tj ET Q q 0 0 0 rg BT 183.43 144.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 203.82 144.50 Td (and ) Tj ET Q q 0 0 0 rg BT 217.09 144.50 Td (liabilities, ) Tj ET Q q 0 0 0 rg BT 250.58 144.50 Td (and ) Tj ET Q q 0 0 0 rg BT 263.85 144.50 Td (at ) Tj ET Q q 0 0 0 rg BT 271.35 144.50 Td (weighted ) Tj ET Q q 0 0 0 rg BT 302.39 144.50 Td (average ) Tj ET Q q 0 0 0 rg BT 328.98 144.50 Td (rates ) Tj ET Q q 0 0 0 rg BT 345.80 144.50 Td (for ) Tj ET Q q 0 0 0 rg BT 356.85 144.50 Td (the ) Tj ET Q q 0 0 0 rg BT 368.35 144.50 Td (period ) Tj ET Q q 0 0 0 rg BT 390.50 144.50 Td (for ) Tj ET Q q 0 0 0 rg BT 401.55 144.50 Td (revenues ) Tj ET Q q 0 0 0 rg BT 431.70 144.50 Td (and ) Tj ET Q q 0 0 0 rg BT 444.97 144.50 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 477.57 144.50 Td (including ) Tj ET Q q 0 0 0 rg BT 509.51 144.50 Td (gains ) Tj ET Q q 0 0 0 rg BT 528.12 144.50 Td (and ) Tj ET Q q 0 0 0 rg BT 541.39 144.50 Td (losses. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 134.90 Td (T) Tj ET Q q 0 0 0 rg BT 54.11 134.90 Td (ranslational ) Tj ET Q q 0 0 0 rg BT 93.43 134.90 Td (gains ) Tj ET Q q 0 0 0 rg BT 112.31 134.90 Td (and ) Tj ET Q q 0 0 0 rg BT 125.86 134.90 Td (losses ) Tj ET Q q 0 0 0 rg BT 146.98 134.90 Td (are ) Tj ET Q q 0 0 0 rg BT 158.74 134.90 Td (char) Tj ET Q q 0 0 0 rg BT 172.36 134.90 Td (ged ) Tj ET Q q 0 0 0 rg BT 185.91 134.90 Td (or ) Tj ET Q q 0 0 0 rg BT 194.58 134.90 Td (credited ) Tj ET Q q 0 0 0 rg BT 222.34 134.90 Td (to ) Tj ET Q q 0 0 0 rg BT 230.56 134.90 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 272.98 134.90 Td (other ) Tj ET Q q 0 0 0 rg BT 291.42 134.90 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 341.85 134.90 Td (income, ) Tj ET Q q 0 0 0 rg BT 369.39 134.90 Td (a ) Tj ET Q q 0 0 0 rg BT 374.95 134.90 Td (component ) Tj ET Q q 0 0 0 rg BT 412.49 134.90 Td (of ) Tj ET Q q 0 0 0 rg BT 421.16 134.90 Td (equity) Tj ET Q q 0 0 0 rg BT 440.63 134.90 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 119.30 Td (Determination ) Tj ET Q q 0 0 0 rg BT 97.58 119.30 Td (of ) Tj ET Q q 0 0 0 rg BT 106.13 119.30 Td (the ) Tj ET Q q 0 0 0 rg BT 117.78 119.30 Td (functional ) Tj ET Q q 0 0 0 rg BT 152.09 119.30 Td (currency ) Tj ET Q q 0 0 0 rg BT 181.94 119.30 Td (of ) Tj ET Q q 0 0 0 rg BT 190.48 119.30 Td (an ) Tj ET Q q 0 0 0 rg BT 199.91 119.30 Td (entity ) Tj ET Q q 0 0 0 rg BT 220.01 119.30 Td (requires ) Tj ET Q q 0 0 0 rg BT 247.65 119.30 Td (considerable ) Tj ET Q q 0 0 0 rg BT 289.95 119.30 Td (management ) Tj ET Q q 0 0 0 rg BT 332.70 119.30 Td (judgment. ) Tj ET Q q 0 0 0 rg BT 366.66 119.30 Td (This ) Tj ET Q q 0 0 0 rg BT 382.76 119.30 Td (includes ) Tj ET Q q 0 0 0 rg BT 411.30 119.30 Td (our ) Tj ET Q q 0 0 0 rg BT 423.84 119.30 Td (assessment ) Tj ET Q q 0 0 0 rg BT 461.27 119.30 Td (of ) Tj ET Q q 0 0 0 rg BT 469.81 119.30 Td (a ) Tj ET Q q 0 0 0 rg BT 475.24 119.30 Td (series ) Tj ET Q q 0 0 0 rg BT 495.33 119.30 Td (of ) Tj ET Q q 0 0 0 rg BT 503.87 119.30 Td (indicators, ) Tj ET Q q 0 0 0 rg BT 539.29 119.30 Td (such ) Tj ET Q q 0 0 0 rg BT 555.83 119.30 Td (as ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 109.70 Td (the ) Tj ET Q q 0 0 0 rg BT 61.04 109.70 Td (currency ) Tj ET Q q 0 0 0 rg BT 90.78 109.70 Td (in ) Tj ET Q q 0 0 0 rg BT 98.76 109.70 Td (which ) Tj ET Q q 0 0 0 rg BT 120.08 109.70 Td (a ) Tj ET Q q 0 0 0 rg BT 125.39 109.70 Td (majority ) Tj ET Q q 0 0 0 rg BT 154.26 109.70 Td (of ) Tj ET Q q 0 0 0 rg BT 162.69 109.70 Td (sales ) Tj ET Q q 0 0 0 rg BT 180.00 109.70 Td (transactions ) Tj ET Q q 0 0 0 rg BT 219.97 109.70 Td (are ) Tj ET Q q 0 0 0 rg BT 231.50 109.70 Td (negotiated, ) Tj ET Q q 0 0 0 rg BT 268.58 109.70 Td (expense ) Tj ET Q q 0 0 0 rg BT 296.11 109.70 Td (incurred ) Tj ET Q q 0 0 0 rg BT 324.53 109.70 Td (or ) Tj ET Q q 0 0 0 rg BT 332.96 109.70 Td (financing ) Tj ET Q q 0 0 0 rg BT 364.93 109.70 Td (secured. ) Tj ET Q q 0 0 0 rg BT 393.12 109.70 Td (If ) Tj ET Q q 0 0 0 rg BT 400.21 109.70 Td (the ) Tj ET Q q 0 0 0 rg BT 411.75 109.70 Td (nature ) Tj ET Q q 0 0 0 rg BT 433.50 109.70 Td (of ) Tj ET Q q 0 0 0 rg BT 441.93 109.70 Td (our ) Tj ET Q q 0 0 0 rg BT 454.35 109.70 Td (business ) Tj ET Q q 0 0 0 rg BT 483.23 109.70 Td (operations ) Tj ET Q q 0 0 0 rg BT 518.32 109.70 Td (changes, ) Tj ET Q q 0 0 0 rg BT 547.84 109.70 Td (such ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 100.10 Td (as ) Tj ET Q q 0 0 0 rg BT 57.77 100.10 Td (by ) Tj ET Q q 0 0 0 rg BT 67.38 100.10 Td (changing ) Tj ET Q q 0 0 0 rg BT 98.30 100.10 Td (the ) Tj ET Q q 0 0 0 rg BT 109.68 100.10 Td (currency ) Tj ET Q q 0 0 0 rg BT 139.27 100.10 Td (in ) Tj ET Q q 0 0 0 rg BT 147.10 100.10 Td (which ) Tj ET Q q 0 0 0 rg BT 168.25 100.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 185.41 100.10 Td (transactions ) Tj ET Q q 0 0 0 rg BT 225.23 100.10 Td (are ) Tj ET Q q 0 0 0 rg BT 236.60 100.10 Td (denominated ) Tj ET Q q 0 0 0 rg BT 279.52 100.10 Td (or ) Tj ET Q q 0 0 0 rg BT 287.79 100.10 Td (by ) Tj ET Q q 0 0 0 rg BT 297.40 100.10 Td (incurring ) Tj ET Q q 0 0 0 rg BT 328.33 100.10 Td (significantly ) Tj ET Q q 0 0 0 rg BT 369.93 100.10 Td (more ) Tj ET Q q 0 0 0 rg BT 387.97 100.10 Td (expenditure ) Tj ET Q q 0 0 0 rg BT 427.34 100.10 Td (in ) Tj ET Q q 0 0 0 rg BT 435.16 100.10 Td (a ) Tj ET Q q 0 0 0 rg BT 440.32 100.10 Td (dif) Tj ET Q q 0 0 0 rg BT 449.06 100.10 Td (ferent ) Tj ET Q q 0 0 0 rg BT 469.32 100.10 Td (currency) Tj ET Q q 0 0 0 rg BT 496.78 100.10 Td (, ) Tj ET Q q 0 0 0 rg BT 500.39 100.10 Td (we ) Tj ET Q q 0 0 0 rg BT 511.32 100.10 Td (may ) Tj ET Q q 0 0 0 rg BT 526.70 100.10 Td (be ) Tj ET Q q 0 0 0 rg BT 535.86 100.10 Td (required ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 90.50 Td (to ) Tj ET Q q 0 0 0 rg BT 58.47 90.50 Td (change ) Tj ET Q q 0 0 0 rg BT 83.87 90.50 Td (the ) Tj ET Q q 0 0 0 rg BT 96.38 90.50 Td (functional ) Tj ET Q q 0 0 0 rg BT 131.56 90.50 Td (currency ) Tj ET Q q 0 0 0 rg BT 162.29 90.50 Td (of ) Tj ET Q q 0 0 0 rg BT 171.70 90.50 Td (some ) Tj ET Q q 0 0 0 rg BT 191.33 90.50 Td (of ) Tj ET Q q 0 0 0 rg BT 200.74 90.50 Td (our ) Tj ET Q q 0 0 0 rg BT 214.15 90.50 Td (operations, ) Tj ET Q q 0 0 0 rg BT 252.22 90.50 Td (potentially ) Tj ET Q q 0 0 0 rg BT 289.18 90.50 Td (changing ) Tj ET Q q 0 0 0 rg BT 321.25 90.50 Td (the ) Tj ET Q q 0 0 0 rg BT 333.76 90.50 Td (amounts ) Tj ET Q q 0 0 0 rg BT 363.62 90.50 Td (we ) Tj ET Q q 0 0 0 rg BT 375.69 90.50 Td (report ) Tj ET Q q 0 0 0 rg BT 397.54 90.50 Td (as ) Tj ET Q q 0 0 0 rg BT 406.95 90.50 Td (transaction ) Tj ET Q q 0 0 0 rg BT 444.79 90.50 Td (gains ) Tj ET Q q 0 0 0 rg BT 464.42 90.50 Td (and ) Tj ET Q q 0 0 0 rg BT 478.72 90.50 Td (losses ) Tj ET Q q 0 0 0 rg BT 500.58 90.50 Td (in ) Tj ET Q q 0 0 0 rg BT 509.54 90.50 Td (the ) Tj ET Q q 0 0 0 rg BT 522.06 90.50 Td (consolidated ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 80.90 Td (statements ) Tj ET Q q 0 0 0 rg BT 85.04 80.90 Td (of ) Tj ET Q q 0 0 0 rg BT 93.47 80.90 Td (operations ) Tj ET Q q 0 0 0 rg BT 128.56 80.90 Td (and ) Tj ET Q q 0 0 0 rg BT 141.88 80.90 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 192.07 80.90 Td (income ) Tj ET Q q 0 0 0 rg BT 217.38 80.90 Td (as ) Tj ET Q q 0 0 0 rg BT 225.81 80.90 Td (well ) Tj ET Q q 0 0 0 rg BT 241.35 80.90 Td (as ) Tj ET Q q 0 0 0 rg BT 249.78 80.90 Td (the ) Tj ET Q q 0 0 0 rg BT 261.32 80.90 Td (translational ) Tj ET Q q 0 0 0 rg BT 302.63 80.90 Td (gains ) Tj ET Q q 0 0 0 rg BT 321.29 80.90 Td (and ) Tj ET Q q 0 0 0 rg BT 334.60 80.90 Td (losses ) Tj ET Q q 0 0 0 rg BT 355.48 80.90 Td (char) Tj ET Q q 0 0 0 rg BT 369.10 80.90 Td (ged ) Tj ET Q q 0 0 0 rg BT 382.42 80.90 Td (or ) Tj ET Q q 0 0 0 rg BT 390.85 80.90 Td (credited ) Tj ET Q q 0 0 0 rg BT 418.38 80.90 Td (to ) Tj ET Q q 0 0 0 rg BT 426.37 80.90 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 468.56 80.90 Td (other ) Tj ET Q q 0 0 0 rg BT 486.76 80.90 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 536.95 80.90 Td (income. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 71.30 Td (In ) Tj ET Q q 0 0 0 rg BT 58.06 71.30 Td (establishing ) Tj ET Q q 0 0 0 rg BT 98.18 71.30 Td (functional ) Tj ET Q q 0 0 0 rg BT 132.51 71.30 Td (currency) Tj ET Q q 0 0 0 rg BT 159.98 71.30 Td (, ) Tj ET Q q 0 0 0 rg BT 163.88 71.30 Td (specific ) Tj ET Q q 0 0 0 rg BT 190.65 71.30 Td (facts ) Tj ET Q q 0 0 0 rg BT 207.65 71.30 Td (and ) Tj ET Q q 0 0 0 rg BT 221.10 71.30 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 268.31 71.30 Td (are ) Tj ET Q q 0 0 0 rg BT 279.98 71.30 Td (considered ) Tj ET Q q 0 0 0 rg BT 316.53 71.30 Td (carefully) Tj ET Q q 0 0 0 rg BT 344.44 71.30 Td (, ) Tj ET Q q 0 0 0 rg BT 348.33 71.30 Td (and ) Tj ET Q q 0 0 0 rg BT 361.79 71.30 Td (judgment ) Tj ET Q q 0 0 0 rg BT 393.90 71.30 Td (is ) Tj ET Q q 0 0 0 rg BT 401.14 71.30 Td (exercised ) Tj ET Q q 0 0 0 rg BT 433.24 71.30 Td (as ) Tj ET Q q 0 0 0 rg BT 441.80 71.30 Td (to ) Tj ET Q q 0 0 0 rg BT 449.93 71.30 Td (what ) Tj ET Q q 0 0 0 rg BT 467.38 71.30 Td (types ) Tj ET Q q 0 0 0 rg BT 486.16 71.30 Td (of ) Tj ET Q q 0 0 0 rg BT 494.73 71.30 Td (information ) Tj ET Q q 0 0 0 rg BT 534.40 71.30 Td (might ) Tj ET Q q 0 0 0 rg BT 554.96 71.30 Td (be ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 61.70 Td (most ) Tj ET Q q 0 0 0 rg BT 67.06 61.70 Td (useful ) Tj ET Q q 0 0 0 rg BT 88.61 61.70 Td (to ) Tj ET Q q 0 0 0 rg BT 96.83 61.70 Td (investors.) Tj ET Q endstream endobj 87 0 obj <>] /Rotate 0 /Contents 88 0 R>> endobj 88 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (41) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 723.45 Td (Contingencies) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 707.85 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 707.85 Td (e ) Tj ET Q q 0 0 0 rg BT 62.31 707.85 Td (are, ) Tj ET Q q 0 0 0 rg BT 76.43 707.85 Td (from ) Tj ET Q q 0 0 0 rg BT 94.33 707.85 Td (time ) Tj ET Q q 0 0 0 rg BT 110.91 707.85 Td (to ) Tj ET Q q 0 0 0 rg BT 119.48 707.85 Td (time, ) Tj ET Q q 0 0 0 rg BT 138.05 707.85 Td (involved ) Tj ET Q q 0 0 0 rg BT 168.40 707.85 Td (in ) Tj ET Q q 0 0 0 rg BT 176.98 707.85 Td (certain ) Tj ET Q q 0 0 0 rg BT 201.09 707.85 Td (legal ) Tj ET Q q 0 0 0 rg BT 218.99 707.85 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 260.00 707.85 Td (and, ) Tj ET Q q 0 0 0 rg BT 275.90 707.85 Td (as ) Tj ET Q q 0 0 0 rg BT 284.92 707.85 Td (required, ) Tj ET Q q 0 0 0 rg BT 315.92 707.85 Td (accrue ) Tj ET Q q 0 0 0 rg BT 339.14 707.85 Td (our ) Tj ET Q q 0 0 0 rg BT 352.16 707.85 Td (estimate ) Tj ET Q q 0 0 0 rg BT 381.17 707.85 Td (of ) Tj ET Q q 0 0 0 rg BT 390.18 707.85 Td (the ) Tj ET Q q 0 0 0 rg BT 402.31 707.85 Td (probable ) Tj ET Q q 0 0 0 rg BT 432.65 707.85 Td (costs ) Tj ET Q q 0 0 0 rg BT 451.00 707.85 Td (for ) Tj ET Q q 0 0 0 rg BT 462.68 707.85 Td (the ) Tj ET Q q 0 0 0 rg BT 474.81 707.85 Td (resolution ) Tj ET Q q 0 0 0 rg BT 509.16 707.85 Td (for ) Tj ET Q q 0 0 0 rg BT 520.84 707.85 Td (these ) Tj ET Q q 0 0 0 rg BT 539.63 707.85 Td (claims. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (These ) Tj ET Q q 0 0 0 rg BT 70.98 698.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 103.13 698.25 Td (are ) Tj ET Q q 0 0 0 rg BT 115.27 698.25 Td (developed ) Tj ET Q q 0 0 0 rg BT 150.52 698.25 Td (in ) Tj ET Q q 0 0 0 rg BT 159.12 698.25 Td (consultation ) Tj ET Q q 0 0 0 rg BT 200.61 698.25 Td (with ) Tj ET Q q 0 0 0 rg BT 217.21 698.25 Td (legal ) Tj ET Q q 0 0 0 rg BT 235.13 698.25 Td (counsel ) Tj ET Q q 0 0 0 rg BT 261.95 698.25 Td (and ) Tj ET Q q 0 0 0 rg BT 275.88 698.25 Td (are ) Tj ET Q q 0 0 0 rg BT 288.02 698.25 Td (based ) Tj ET Q q 0 0 0 rg BT 308.61 698.25 Td (upon ) Tj ET Q q 0 0 0 rg BT 326.99 698.25 Td (an ) Tj ET Q q 0 0 0 rg BT 336.92 698.25 Td (analysis ) Tj ET Q q 0 0 0 rg BT 365.07 698.25 Td (of ) Tj ET Q q 0 0 0 rg BT 374.11 698.25 Td (potential ) Tj ET Q q 0 0 0 rg BT 404.48 698.25 Td (results, ) Tj ET Q q 0 0 0 rg BT 429.75 698.25 Td (assuming ) Tj ET Q q 0 0 0 rg BT 462.35 698.25 Td (a ) Tj ET Q q 0 0 0 rg BT 468.28 698.25 Td (combination ) Tj ET Q q 0 0 0 rg BT 510.65 698.25 Td (of ) Tj ET Q q 0 0 0 rg BT 519.69 698.25 Td (litigation ) Tj ET Q q 0 0 0 rg BT 550.95 698.25 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 688.65 Td (settlement ) Tj ET Q q 0 0 0 rg BT 84.24 688.65 Td (strategies. ) Tj ET Q q 0 0 0 rg BT 118.31 688.65 Td (It ) Tj ET Q q 0 0 0 rg BT 125.05 688.65 Td (is ) Tj ET Q q 0 0 0 rg BT 132.25 688.65 Td (possible, ) Tj ET Q q 0 0 0 rg BT 162.33 688.65 Td (however) Tj ET Q q 0 0 0 rg BT 189.55 688.65 Td (, ) Tj ET Q q 0 0 0 rg BT 193.41 688.65 Td (that ) Tj ET Q q 0 0 0 rg BT 207.26 688.65 Td (future ) Tj ET Q q 0 0 0 rg BT 228.22 688.65 Td (results ) Tj ET Q q 0 0 0 rg BT 250.97 688.65 Td (of ) Tj ET Q q 0 0 0 rg BT 259.49 688.65 Td (operations ) Tj ET Q q 0 0 0 rg BT 294.67 688.65 Td (for ) Tj ET Q q 0 0 0 rg BT 305.86 688.65 Td (any ) Tj ET Q q 0 0 0 rg BT 319.27 688.65 Td (particular ) Tj ET Q q 0 0 0 rg BT 351.78 688.65 Td (period ) Tj ET Q q 0 0 0 rg BT 374.07 688.65 Td (could ) Tj ET Q q 0 0 0 rg BT 393.70 688.65 Td (be ) Tj ET Q q 0 0 0 rg BT 403.11 688.65 Td (materially ) Tj ET Q q 0 0 0 rg BT 437.40 688.65 Td (af) Tj ET Q q 0 0 0 rg BT 443.47 688.65 Td (fected ) Tj ET Q q 0 0 0 rg BT 464.87 688.65 Td (by ) Tj ET Q q 0 0 0 rg BT 474.73 688.65 Td (changes ) Tj ET Q q 0 0 0 rg BT 502.35 688.65 Td (in ) Tj ET Q q 0 0 0 rg BT 510.43 688.65 Td (our ) Tj ET Q q 0 0 0 rg BT 522.95 688.65 Td (assumptions ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 679.05 Td (or ) Tj ET Q q 0 0 0 rg BT 58.25 679.05 Td (the ) Tj ET Q q 0 0 0 rg BT 70.10 679.05 Td (ef) Tj ET Q q 0 0 0 rg BT 76.17 679.05 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 113.79 679.05 Td (of ) Tj ET Q q 0 0 0 rg BT 122.54 679.05 Td (our ) Tj ET Q q 0 0 0 rg BT 135.29 679.05 Td (strategies ) Tj ET Q q 0 0 0 rg BT 167.58 679.05 Td (related ) Tj ET Q q 0 0 0 rg BT 191.42 679.05 Td (to ) Tj ET Q q 0 0 0 rg BT 199.73 679.05 Td (these ) Tj ET Q q 0 0 0 rg BT 218.25 679.05 Td (proceedings. ) Tj ET Q q 0 0 0 rg BT 260.98 679.05 Td (See ) Tj ET Q q 0 0 0 rg BT 274.61 679.05 Td (Item ) Tj ET Q q 0 0 0 rg BT 291.36 679.05 Td (8, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.44 679.05 Td (Note ) Tj ET Q q 0 0 0 rg BT 317.07 679.05 Td (21, ) Tj ET Q q 0 0 0 rg BT 329.15 679.05 Td ("Commitments ) Tj ET Q q 0 0 0 rg BT 379.84 679.05 Td (and ) Tj ET Q q 0 0 0 rg BT 393.47 679.05 Td (Contingencies") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.50 679.05 Td ( ) Tj ET Q q 0 0 0 rg BT 444.59 679.05 Td (for ) Tj ET Q q 0 0 0 rg BT 456.00 679.05 Td (more ) Tj ET Q q 0 0 0 rg BT 474.52 679.05 Td (detailed ) Tj ET Q q 0 0 0 rg BT 501.92 679.05 Td (information ) Tj ET Q q 0 0 0 rg BT 541.77 679.05 Td (on ) Tj ET Q q 0 0 0 rg BT 551.85 679.05 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 669.45 Td (litigation ) Tj ET Q q 0 0 0 rg BT 80.39 669.45 Td (and ) Tj ET Q q 0 0 0 rg BT 93.94 669.45 Td (other ) Tj ET Q q 0 0 0 rg BT 112.38 669.45 Td (contingencies, ) Tj ET Q q 0 0 0 rg BT 160.36 669.45 Td (including ) Tj ET Q q 0 0 0 rg BT 192.58 669.45 Td (with ) Tj ET Q q 0 0 0 rg BT 208.80 669.45 Td (respect ) Tj ET Q q 0 0 0 rg BT 233.45 669.45 Td (to ) Tj ET Q q 0 0 0 rg BT 241.68 669.45 Td (tax ) Tj ET Q q 0 0 0 rg BT 253.45 669.45 Td (audits ) Tj ET Q q 0 0 0 rg BT 274.56 669.45 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 302.78 669.45 Td (in ) Tj ET Q q 0 0 0 rg BT 311.00 669.45 Td (Romania.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 650.85 Td (Recent ) Tj ET Q q 0 0 0 rg BT 73.12 650.85 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 111.55 650.85 Td (Pr) Tj ET Q q 0 0 0 rg BT 119.25 650.85 Td (onouncements) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 635.25 Td (See ) Tj ET Q q 0 0 0 rg BT 62.86 635.25 Td (Item ) Tj ET Q q 0 0 0 rg BT 79.33 635.25 Td (8, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.14 635.25 Td (Note ) Tj ET Q q 0 0 0 rg BT 104.50 635.25 Td (2, ) Tj ET Q q 0 0 0 rg BT 112.31 635.25 Td ("Basis ) Tj ET Q q 0 0 0 rg BT 134.73 635.25 Td (of ) Tj ET Q q 0 0 0 rg BT 143.20 635.25 Td (Presentation ) Tj ET Q q 0 0 0 rg BT 184.56 635.25 Td (and ) Tj ET Q q 0 0 0 rg BT 197.92 635.25 Td (Summary ) Tj ET Q q 0 0 0 rg BT 230.84 635.25 Td (of ) Tj ET Q q 0 0 0 rg BT 239.31 635.25 Td (Significant ) Tj ET Q q 0 0 0 rg BT 275.83 635.25 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 314.97 635.25 Td (Policies") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.56 635.25 Td ( ) Tj ET Q q 0 0 0 rg BT 345.37 635.25 Td (for ) Tj ET Q q 0 0 0 rg BT 356.51 635.25 Td (a ) Tj ET Q q 0 0 0 rg BT 361.87 635.25 Td (discussion ) Tj ET Q q 0 0 0 rg BT 397.02 635.25 Td (of ) Tj ET Q q 0 0 0 rg BT 405.50 635.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 442.40 635.25 Td (standards ) Tj ET Q q 0 0 0 rg BT 474.43 635.25 Td (adopted ) Tj ET Q q 0 0 0 rg BT 501.56 635.25 Td (and ) Tj ET Q q 0 0 0 rg BT 514.92 635.25 Td (recently ) Tj ET Q q 0 0 0 rg BT 542.50 635.25 Td (issued ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 625.65 Td (accounting ) Tj ET Q q 0 0 0 rg BT 86.60 625.65 Td (standards ) Tj ET Q q 0 0 0 rg BT 118.81 625.65 Td (not ) Tj ET Q q 0 0 0 rg BT 131.04 625.65 Td (yet ) Tj ET Q q 0 0 0 rg BT 142.81 625.65 Td (adopted.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 604.05 Td (V) Tj ET Q q 0 0 0 rg BT 54.25 604.05 Td (. ) Tj ET Q q 0 0 0 rg BT 76.50 604.05 Td (Related ) Tj ET Q q 0 0 0 rg BT 104.71 604.05 Td (Party ) Tj ET Q q 0 0 0 rg BT 125.82 604.05 Td (Matters) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 588.45 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 588.45 Td (e ) Tj ET Q q 0 0 0 rg BT 62.03 588.45 Td (consider ) Tj ET Q q 0 0 0 rg BT 91.21 588.45 Td (our ) Tj ET Q q 0 0 0 rg BT 103.95 588.45 Td (related ) Tj ET Q q 0 0 0 rg BT 127.78 588.45 Td (parties ) Tj ET Q q 0 0 0 rg BT 151.18 588.45 Td (to ) Tj ET Q q 0 0 0 rg BT 159.47 588.45 Td (be ) Tj ET Q q 0 0 0 rg BT 169.10 588.45 Td (those ) Tj ET Q q 0 0 0 rg BT 188.06 588.45 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 230.56 588.45 Td (who ) Tj ET Q q 0 0 0 rg BT 246.41 588.45 Td (have ) Tj ET Q q 0 0 0 rg BT 263.59 588.45 Td (direct ) Tj ET Q q 0 0 0 rg BT 283.87 588.45 Td (control ) Tj ET Q q 0 0 0 rg BT 308.60 588.45 Td (and/or ) Tj ET Q q 0 0 0 rg BT 331.12 588.45 Td (influence ) Tj ET Q q 0 0 0 rg BT 362.95 588.45 Td (and ) Tj ET Q q 0 0 0 rg BT 376.57 588.45 Td (other ) Tj ET Q q 0 0 0 rg BT 395.08 588.45 Td (parties ) Tj ET Q q 0 0 0 rg BT 418.48 588.45 Td (that ) Tj ET Q q 0 0 0 rg BT 432.55 588.45 Td (can ) Tj ET Q q 0 0 0 rg BT 445.73 588.45 Td (significantly ) Tj ET Q q 0 0 0 rg BT 487.79 588.45 Td (influence ) Tj ET Q q 0 0 0 rg BT 519.63 588.45 Td (management. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 578.85 Td (As ) Tj ET Q q 0 0 0 rg BT 60.20 578.85 Td (stated ) Tj ET Q q 0 0 0 rg BT 80.66 578.85 Td (in ) Tj ET Q q 0 0 0 rg BT 88.29 578.85 Td (ASC ) Tj ET Q q 0 0 0 rg BT 105.66 578.85 Td (850, ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 121.46 578.85 Td (Related ) Tj ET Q q 0 0 0 rg BT 147.70 578.85 Td (Party ) Tj ET Q q 0 0 0 rg BT 167.28 578.85 Td (Disclosur) Tj ET Q q 0 0 0 rg BT 198.09 578.85 Td (es, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.56 578.85 Td (transactions ) Tj ET Q q 0 0 0 rg BT 248.58 578.85 Td (involving ) Tj ET Q q 0 0 0 rg BT 281.05 578.85 Td (related ) Tj ET Q q 0 0 0 rg BT 304.62 578.85 Td (parties ) Tj ET Q q 0 0 0 rg BT 327.75 578.85 Td (cannot ) Tj ET Q q 0 0 0 rg BT 350.88 578.85 Td (necessarily ) Tj ET Q q 0 0 0 rg BT 388.22 578.85 Td (be ) Tj ET Q q 0 0 0 rg BT 397.57 578.85 Td (presumed ) Tj ET Q q 0 0 0 rg BT 430.48 578.85 Td (to ) Tj ET Q q 0 0 0 rg BT 438.51 578.85 Td (be ) Tj ET Q q 0 0 0 rg BT 447.86 578.85 Td (carried ) Tj ET Q q 0 0 0 rg BT 471.87 578.85 Td (out ) Tj ET Q q 0 0 0 rg BT 483.90 578.85 Td (on ) Tj ET Q q 0 0 0 rg BT 493.70 578.85 Td (an ) Tj ET Q q 0 0 0 rg BT 503.06 578.85 Td (arm's-length ) Tj ET Q q 0 0 0 rg BT 544.52 578.85 Td (basis, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 569.25 Td (as ) Tj ET Q q 0 0 0 rg BT 58.06 569.25 Td (the ) Tj ET Q q 0 0 0 rg BT 69.74 569.25 Td (requisite ) Tj ET Q q 0 0 0 rg BT 99.19 569.25 Td (conditions ) Tj ET Q q 0 0 0 rg BT 134.42 569.25 Td (of ) Tj ET Q q 0 0 0 rg BT 142.98 569.25 Td (competitive, ) Tj ET Q q 0 0 0 rg BT 184.65 569.25 Td (free-market ) Tj ET Q q 0 0 0 rg BT 223.85 569.25 Td (dealings ) Tj ET Q q 0 0 0 rg BT 252.41 569.25 Td (may ) Tj ET Q q 0 0 0 rg BT 268.09 569.25 Td (not ) Tj ET Q q 0 0 0 rg BT 280.21 569.25 Td (exist. ) Tj ET Q q 0 0 0 rg BT 299.08 569.25 Td (W) Tj ET Q q 0 0 0 rg BT 305.99 569.25 Td (e ) Tj ET Q q 0 0 0 rg BT 311.44 569.25 Td (have ) Tj ET Q q 0 0 0 rg BT 328.45 569.25 Td (entered ) Tj ET Q q 0 0 0 rg BT 353.89 569.25 Td (into ) Tj ET Q q 0 0 0 rg BT 368.23 569.25 Td (related ) Tj ET Q q 0 0 0 rg BT 391.89 569.25 Td (party ) Tj ET Q q 0 0 0 rg BT 410.23 569.25 Td (transactions ) Tj ET Q q 0 0 0 rg BT 450.34 569.25 Td (in ) Tj ET Q q 0 0 0 rg BT 458.47 569.25 Td (all ) Tj ET Q q 0 0 0 rg BT 468.36 569.25 Td (of ) Tj ET Q q 0 0 0 rg BT 476.93 569.25 Td (our ) Tj ET Q q 0 0 0 rg BT 489.49 569.25 Td (markets. ) Tj ET Q q 0 0 0 rg BT 518.72 569.25 Td (For ) Tj ET Q q 0 0 0 rg BT 531.73 569.25 Td (a ) Tj ET Q q 0 0 0 rg BT 537.18 569.25 Td (detailed ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 559.65 Td (discussion ) Tj ET Q q 0 0 0 rg BT 84.84 559.65 Td (of ) Tj ET Q q 0 0 0 rg BT 93.50 559.65 Td (all ) Tj ET Q q 0 0 0 rg BT 103.50 559.65 Td (such ) Tj ET Q q 0 0 0 rg BT 120.16 559.65 Td (transactions, ) Tj ET Q q 0 0 0 rg BT 162.37 559.65 Td (see ) Tj ET Q q 0 0 0 rg BT 174.59 559.65 Td (Item ) Tj ET Q q 0 0 0 rg BT 191.25 559.65 Td (8, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 199.25 559.65 Td (Note ) Tj ET Q q 0 0 0 rg BT 216.80 559.65 Td (22, ) Tj ET Q q 0 0 0 rg BT 228.80 559.65 Td ("Related ) Tj ET Q q 0 0 0 rg BT 258.50 559.65 Td (Party ) Tj ET Q q 0 0 0 rg BT 277.24 559.65 Td (T) Tj ET Q q 0 0 0 rg BT 281.84 559.65 Td (ransactions") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.10 559.65 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 538.05 Td (ITEM 7A. ) Tj ET Q q 0 0 0 rg BT 94.50 538.05 Td (QUANTIT) Tj ET Q q 0 0 0 rg BT 131.25 538.05 Td (A) Tj ET Q q 0 0 0 rg BT 136.43 538.05 Td (TIVE ) Tj ET Q q 0 0 0 rg BT 157.55 538.05 Td (AND QUALIT) Tj ET Q q 0 0 0 rg BT 207.85 538.05 Td (A) Tj ET Q q 0 0 0 rg BT 213.04 538.05 Td (TIVE DISCLOSURES ) Tj ET Q q 0 0 0 rg BT 292.62 538.05 Td (ABOUT) Tj ET Q q 0 0 0 rg BT 320.93 538.05 Td ( MARKET) Tj ET Q q 0 0 0 rg BT 358.78 538.05 Td ( RISK) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 522.45 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 522.45 Td (e ) Tj ET Q q 0 0 0 rg BT 62.30 522.45 Td (engage ) Tj ET Q q 0 0 0 rg BT 87.30 522.45 Td (in ) Tj ET Q q 0 0 0 rg BT 95.86 522.45 Td (activities ) Tj ET Q q 0 0 0 rg BT 127.08 522.45 Td (that ) Tj ET Q q 0 0 0 rg BT 141.42 522.45 Td (expose ) Tj ET Q q 0 0 0 rg BT 165.98 522.45 Td (us ) Tj ET Q q 0 0 0 rg BT 175.43 522.45 Td (to ) Tj ET Q q 0 0 0 rg BT 184.00 522.45 Td (various ) Tj ET Q q 0 0 0 rg BT 209.89 522.45 Td (market ) Tj ET Q q 0 0 0 rg BT 234.44 522.45 Td (risks, ) Tj ET Q q 0 0 0 rg BT 253.90 522.45 Td (including ) Tj ET Q q 0 0 0 rg BT 286.46 522.45 Td (the ) Tj ET Q q 0 0 0 rg BT 298.57 522.45 Td (ef) Tj ET Q q 0 0 0 rg BT 304.64 522.45 Td (fect ) Tj ET Q q 0 0 0 rg BT 318.97 522.45 Td (of ) Tj ET Q q 0 0 0 rg BT 327.98 522.45 Td (changes ) Tj ET Q q 0 0 0 rg BT 356.09 522.45 Td (in ) Tj ET Q q 0 0 0 rg BT 364.65 522.45 Td (foreign ) Tj ET Q q 0 0 0 rg BT 390.09 522.45 Td (currency ) Tj ET Q q 0 0 0 rg BT 420.42 522.45 Td (exchange ) Tj ET Q q 0 0 0 rg BT 452.96 522.45 Td (rates ) Tj ET Q q 0 0 0 rg BT 470.40 522.45 Td (and ) Tj ET Q q 0 0 0 rg BT 484.30 522.45 Td (interest ) Tj ET Q q 0 0 0 rg BT 510.19 522.45 Td (rates.) Tj ET Q q 0 0 0 rg BT 529.14 522.45 Td (W) Tj ET Q q 0 0 0 rg BT 536.05 522.45 Td (e ) Tj ET Q q 0 0 0 rg BT 541.95 522.45 Td (do ) Tj ET Q q 0 0 0 rg BT 552.29 522.45 Td (not ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 512.85 Td (engage ) Tj ET Q q 0 0 0 rg BT 74.15 512.85 Td (in ) Tj ET Q q 0 0 0 rg BT 82.38 512.85 Td (speculative ) Tj ET Q q 0 0 0 rg BT 120.36 512.85 Td (transactions, ) Tj ET Q q 0 0 0 rg BT 162.57 512.85 Td (nor ) Tj ET Q q 0 0 0 rg BT 175.23 512.85 Td (do ) Tj ET Q q 0 0 0 rg BT 185.23 512.85 Td (we ) Tj ET Q q 0 0 0 rg BT 196.56 512.85 Td (hold ) Tj ET Q q 0 0 0 rg BT 212.79 512.85 Td (or ) Tj ET Q q 0 0 0 rg BT 221.45 512.85 Td (issue ) Tj ET Q q 0 0 0 rg BT 239.45 512.85 Td (financial ) Tj ET Q q 0 0 0 rg BT 269.43 512.85 Td (instruments ) Tj ET Q q 0 0 0 rg BT 308.77 512.85 Td (for ) Tj ET Q q 0 0 0 rg BT 320.09 512.85 Td (trading ) Tj ET Q q 0 0 0 rg BT 344.75 512.85 Td (purposes.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 497.25 Td (The ) Tj ET Q q 0 0 0 rg BT 63.94 497.25 Td (table ) Tj ET Q q 0 0 0 rg BT 81.48 497.25 Td (below ) Tj ET Q q 0 0 0 rg BT 103.04 497.25 Td (sets ) Tj ET Q q 0 0 0 rg BT 117.04 497.25 Td (forth ) Tj ET Q q 0 0 0 rg BT 134.59 497.25 Td (our ) Tj ET Q q 0 0 0 rg BT 147.25 497.25 Td (market ) Tj ET Q q 0 0 0 rg BT 171.46 497.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 185.46 497.25 Td (sensitive ) Tj ET Q q 0 0 0 rg BT 215.46 497.25 Td (instruments ) Tj ET Q q 0 0 0 rg BT 254.79 497.25 Td (as ) Tj ET Q q 0 0 0 rg BT 263.45 497.25 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.23 497.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 318.09 497.25 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 334.09 497.25 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 473.75 221.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 473.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.00 473.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.00 473.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 473.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.00 473.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 473.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 473.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 473.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 473.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 473.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 473.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.00 473.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 445.75 221.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 445.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.00 445.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.00 445.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 445.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.00 445.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 445.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 445.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 445.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 445.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 445.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 445.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.00 445.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 417.75 221.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 417.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.00 417.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.00 417.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 417.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.00 417.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 417.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 417.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 417.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 417.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 417.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 417.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.00 417.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 389.75 221.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 389.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.00 389.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.00 389.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 389.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.00 389.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 389.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 389.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 389.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 389.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 389.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 389.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.00 389.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 361.75 221.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 361.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.00 361.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.00 361.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 361.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.00 361.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 361.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 361.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 361.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 361.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 361.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 361.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.00 361.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 333.75 221.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 333.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.00 333.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.00 333.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 333.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.00 333.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 333.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 333.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 333.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 333.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 333.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 333.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.00 333.75 45.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50 473.75 m 271 473.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 275 473.75 m 319 473.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 323 473.75 m 367 473.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 371 473.75 m 416 473.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 420 473.75 m 464 473.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 468 473.75 m 513 473.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 517 473.75 m 562 473.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 477.98 Td (Expected ) Tj ET Q q 0 0 0 rg BT 86.05 477.98 Td (Maturity ) Tj ET Q q 0 0 0 rg BT 119.15 477.98 Td (Dates) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 288.50 477.98 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.50 477.98 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.00 477.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 433.50 477.98 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 493.50 477.98 Td (2018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.70 477.98 Td (Thereafter) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 463.98 Td (Long-term ) Tj ET Q q 0 0 0 rg BT 91.38 463.98 Td (Debt ) Tj ET Q q 0 0 0 rg BT 109.82 463.98 Td (\(000's\):) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.50 464.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.50 464.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.50 464.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 470.50 464.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.50 464.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 450.00 Td (V) Tj ET Q q 0 0 0 rg BT 63.39 450.00 Td (ariable rate \(EUR\)) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 122.47 453.63 Td ( 1 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.80 450.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.75 450.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.80 450.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.75 450.00 Td (250,800) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.80 450.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 450.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.50 436.00 Td (Average interest rate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.80 436.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.75 436.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.80 436.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.75 436.00 Td (1.58) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.80 436.00 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.80 436.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 436.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 422.00 Td (Variable rate \(US$\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.80 422.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.75 422.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.80 422.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.75 422.00 Td (25,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.80 422.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 422.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.50 408.00 Td (Average interest rate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.80 408.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.75 408.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.80 408.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.75 408.00 Td (10.00) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.80 408.00 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.80 408.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 408.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 394.00 Td (Fixed rate \(US$\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.80 394.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.75 394.00 Td (261,034) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.80 394.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.75 394.00 Td (467,885) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.80 394.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 394.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.50 380.00 Td (Average interest rate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.80 380.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 345.75 380.00 Td (5.00) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 359.80 380.00 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.80 380.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.75 380.00 Td (15.00) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.80 380.00 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.80 380.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 380.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 351.98 Td (Inter) Tj ET Q q 0 0 0 rg BT 69.68 351.98 Td (est ) Tj ET Q q 0 0 0 rg BT 81.01 351.98 Td (Rate ) Tj ET Q q 0 0 0 rg BT 99.00 351.98 Td (Swaps ) Tj ET Q q 0 0 0 rg BT 122.79 351.98 Td (\(000's\):) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 338.00 Td (Variable to fixed \(EUR\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.80 338.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.75 338.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.80 338.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.75 338.00 Td (250,800) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.80 338.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 338.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.50 324.00 Td (Average pay rate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.80 324.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.75 324.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.80 324.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.75 324.00 Td (0.21) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.80 324.00 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.80 324.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 324.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.50 310.00 Td (Average receive rate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.80 310.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.75 310.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.80 310.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.75 310.00 Td (0.08) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.80 310.00 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.80 310.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 310.00 Td () Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 290.65 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 67.50 290.65 Td (As ) Tj ET Q q 0 0 0 rg BT 78.26 290.65 Td (discussed ) Tj ET Q q 0 0 0 rg BT 110.80 290.65 Td (in ) Tj ET Q q 0 0 0 rg BT 118.89 290.65 Td (Item ) Tj ET Q q 0 0 0 rg BT 135.42 290.65 Td (8, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 143.29 290.65 Td (Note ) Tj ET Q q 0 0 0 rg BT 160.71 290.65 Td (5, ) Tj ET Q q 0 0 0 rg BT 168.59 290.65 Td ("Long-term ) Tj ET Q q 0 0 0 rg BT 207.93 290.65 Td (Debt ) Tj ET Q q 0 0 0 rg BT 225.36 290.65 Td (and ) Tj ET Q q 0 0 0 rg BT 238.78 290.65 Td (Other ) Tj ET Q q 0 0 0 rg BT 258.86 290.65 Td (Financing ) Tj ET Q q 0 0 0 rg BT 292.32 290.65 Td (Arrangements") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.90 290.65 Td (, ) Tj ET Q q 0 0 0 rg BT 344.77 290.65 Td (as ) Tj ET Q q 0 0 0 rg BT 353.31 290.65 Td (consideration ) Tj ET Q q 0 0 0 rg BT 398.27 290.65 Td (for ) Tj ET Q q 0 0 0 rg BT 409.34 290.65 Td (T) Tj ET Q q 0 0 0 rg BT 413.94 290.65 Td (ime ) Tj ET Q q 0 0 0 rg BT 427.68 290.65 Td (W) Tj ET Q q 0 0 0 rg BT 434.59 290.65 Td (arner's ) Tj ET Q q 0 0 0 rg BT 457.44 290.65 Td (guarantee ) Tj ET Q q 0 0 0 rg BT 490.40 290.65 Td (of ) Tj ET Q q 0 0 0 rg BT 498.94 290.65 Td (the ) Tj ET Q q 0 0 0 rg BT 510.58 290.65 Td (2017 ) Tj ET Q q 0 0 0 rg BT 528.45 290.65 Td (Euro ) Tj ET Q q 0 0 0 rg BT 545.74 290.65 Td (T) Tj ET Q q 0 0 0 rg BT 550.07 290.65 Td (erm ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 281.05 Td (Loan, ) Tj ET Q q 0 0 0 rg BT 88.00 281.05 Td (we ) Tj ET Q q 0 0 0 rg BT 99.39 281.05 Td (will ) Tj ET Q q 0 0 0 rg BT 113.90 281.05 Td (pay ) Tj ET Q q 0 0 0 rg BT 127.52 281.05 Td (a ) Tj ET Q q 0 0 0 rg BT 133.13 281.05 Td (guarantee ) Tj ET Q q 0 0 0 rg BT 166.28 281.05 Td (fee ) Tj ET Q q 0 0 0 rg BT 178.11 281.05 Td (to ) Tj ET Q q 0 0 0 rg BT 186.25 281.05 Td (T) Tj ET Q q 0 0 0 rg BT 190.85 281.05 Td (ime ) Tj ET Q q 0 0 0 rg BT 204.77 281.05 Td (W) Tj ET Q q 0 0 0 rg BT 211.68 281.05 Td (arner ) Tj ET Q q 0 0 0 rg BT 230.17 281.05 Td (based ) Tj ET Q q 0 0 0 rg BT 250.45 281.05 Td (on ) Tj ET Q q 0 0 0 rg BT 260.51 281.05 Td (the ) Tj ET Q q 0 0 0 rg BT 272.35 281.05 Td (amount ) Tj ET Q q 0 0 0 rg BT 298.41 281.05 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 337.80 281.05 Td (on ) Tj ET Q q 0 0 0 rg BT 347.87 281.05 Td (the ) Tj ET Q q 0 0 0 rg BT 359.70 281.05 Td (2017 ) Tj ET Q q 0 0 0 rg BT 377.77 281.05 Td (Euro ) Tj ET Q q 0 0 0 rg BT 395.23 281.05 Td (T) Tj ET Q q 0 0 0 rg BT 399.56 281.05 Td (erm ) Tj ET Q q 0 0 0 rg BT 414.06 281.05 Td (Loan ) Tj ET Q q 0 0 0 rg BT 432.56 281.05 Td (calculated ) Tj ET Q q 0 0 0 rg BT 467.05 281.05 Td (on ) Tj ET Q q 0 0 0 rg BT 477.11 281.05 Td (a ) Tj ET Q q 0 0 0 rg BT 482.73 281.05 Td (per ) Tj ET Q q 0 0 0 rg BT 495.00 281.05 Td (annum ) Tj ET Q q 0 0 0 rg BT 518.84 281.05 Td (basis ) Tj ET Q q 0 0 0 rg BT 536.90 281.05 Td (equal ) Tj ET Q q 0 0 0 rg BT 556.29 281.05 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 271.45 Td (8.5% ) Tj ET Q q 0 0 0 rg BT 86.16 271.45 Td (minus ) Tj ET Q q 0 0 0 rg BT 107.72 271.45 Td (the ) Tj ET Q q 0 0 0 rg BT 119.50 271.45 Td (rate ) Tj ET Q q 0 0 0 rg BT 133.48 271.45 Td (of ) Tj ET Q q 0 0 0 rg BT 142.15 271.45 Td (interest ) Tj ET Q q 0 0 0 rg BT 167.70 271.45 Td (paid ) Tj ET Q q 0 0 0 rg BT 183.47 271.45 Td (by ) Tj ET Q q 0 0 0 rg BT 193.47 271.45 Td (CME ) Tj ET Q q 0 0 0 rg BT 212.80 271.45 Td (to ) Tj ET Q q 0 0 0 rg BT 221.03 271.45 Td (the ) Tj ET Q q 0 0 0 rg BT 232.80 271.45 Td (lenders ) Tj ET Q q 0 0 0 rg BT 257.90 271.45 Td (under ) Tj ET Q q 0 0 0 rg BT 278.12 271.45 Td (the ) Tj ET Q q 0 0 0 rg BT 289.89 271.45 Td (2017 ) Tj ET Q q 0 0 0 rg BT 307.89 271.45 Td (Euro ) Tj ET Q q 0 0 0 rg BT 325.30 271.45 Td (T) Tj ET Q q 0 0 0 rg BT 329.63 271.45 Td (erm ) Tj ET Q q 0 0 0 rg BT 344.06 271.45 Td (Loan.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 255.85 Td (For) Tj ET Q q 0 0 0 rg BT 61.79 255.85 Td (eign ) Tj ET Q q 0 0 0 rg BT 78.02 255.85 Td (Curr) Tj ET Q q 0 0 0 rg BT 95.20 255.85 Td (ency ) Tj ET Q q 0 0 0 rg BT 112.75 255.85 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 148.09 255.85 Td (Risk ) Tj ET Q q 0 0 0 rg BT 165.65 255.85 Td (Management) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 240.25 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 240.25 Td (e ) Tj ET Q q 0 0 0 rg BT 62.15 240.25 Td (conduct ) Tj ET Q q 0 0 0 rg BT 89.66 240.25 Td (business ) Tj ET Q q 0 0 0 rg BT 118.96 240.25 Td (in ) Tj ET Q q 0 0 0 rg BT 127.36 240.25 Td (a ) Tj ET Q q 0 0 0 rg BT 133.10 240.25 Td (number ) Tj ET Q q 0 0 0 rg BT 159.72 240.25 Td (of ) Tj ET Q q 0 0 0 rg BT 168.57 240.25 Td (currencies ) Tj ET Q q 0 0 0 rg BT 203.63 240.25 Td (other ) Tj ET Q q 0 0 0 rg BT 222.25 240.25 Td (than ) Tj ET Q q 0 0 0 rg BT 238.21 240.25 Td (our ) Tj ET Q q 0 0 0 rg BT 251.06 240.25 Td (functional ) Tj ET Q q 0 0 0 rg BT 285.68 240.25 Td (currencies ) Tj ET Q q 0 0 0 rg BT 320.73 240.25 Td (and ) Tj ET Q q 0 0 0 rg BT 334.46 240.25 Td (our ) Tj ET Q q 0 0 0 rg BT 347.31 240.25 Td (2017 ) Tj ET Q q 0 0 0 rg BT 365.50 240.25 Td (Euro ) Tj ET Q q 0 0 0 rg BT 383.08 240.25 Td (T) Tj ET Q q 0 0 0 rg BT 387.41 240.25 Td (erm ) Tj ET Q q 0 0 0 rg BT 402.03 240.25 Td (Loan ) Tj ET Q q 0 0 0 rg BT 420.65 240.25 Td (is ) Tj ET Q q 0 0 0 rg BT 428.17 240.25 Td (denominated ) Tj ET Q q 0 0 0 rg BT 471.68 240.25 Td (in ) Tj ET Q q 0 0 0 rg BT 480.09 240.25 Td (Euros. ) Tj ET Q q 0 0 0 rg BT 502.46 240.25 Td (As ) Tj ET Q q 0 0 0 rg BT 513.53 240.25 Td (a ) Tj ET Q q 0 0 0 rg BT 519.27 240.25 Td (result, ) Tj ET Q q 0 0 0 rg BT 541.23 240.25 Td (we ) Tj ET Q q 0 0 0 rg BT 552.74 240.25 Td (are ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 230.65 Td (subject ) Tj ET Q q 0 0 0 rg BT 73.97 230.65 Td (to ) Tj ET Q q 0 0 0 rg BT 82.01 230.65 Td (foreign ) Tj ET Q q 0 0 0 rg BT 106.92 230.65 Td (currency ) Tj ET Q q 0 0 0 rg BT 136.71 230.65 Td (exchange ) Tj ET Q q 0 0 0 rg BT 168.73 230.65 Td (rate ) Tj ET Q q 0 0 0 rg BT 182.53 230.65 Td (risk ) Tj ET Q q 0 0 0 rg BT 196.34 230.65 Td (due ) Tj ET Q q 0 0 0 rg BT 209.70 230.65 Td (to ) Tj ET Q q 0 0 0 rg BT 217.73 230.65 Td (the ) Tj ET Q q 0 0 0 rg BT 229.32 230.65 Td (ef) Tj ET Q q 0 0 0 rg BT 235.39 230.65 Td (fects ) Tj ET Q q 0 0 0 rg BT 252.30 230.65 Td (that ) Tj ET Q q 0 0 0 rg BT 266.11 230.65 Td (foreign ) Tj ET Q q 0 0 0 rg BT 291.02 230.65 Td (exchange ) Tj ET Q q 0 0 0 rg BT 323.04 230.65 Td (rate ) Tj ET Q q 0 0 0 rg BT 336.84 230.65 Td (movements ) Tj ET Q q 0 0 0 rg BT 375.53 230.65 Td (of ) Tj ET Q q 0 0 0 rg BT 384.01 230.65 Td (these ) Tj ET Q q 0 0 0 rg BT 402.26 230.65 Td (currencies ) Tj ET Q q 0 0 0 rg BT 436.93 230.65 Td (have ) Tj ET Q q 0 0 0 rg BT 453.85 230.65 Td (on ) Tj ET Q q 0 0 0 rg BT 463.66 230.65 Td (our ) Tj ET Q q 0 0 0 rg BT 476.13 230.65 Td (costs ) Tj ET Q q 0 0 0 rg BT 493.95 230.65 Td (and ) Tj ET Q q 0 0 0 rg BT 507.31 230.65 Td (on ) Tj ET Q q 0 0 0 rg BT 517.12 230.65 Td (the ) Tj ET Q q 0 0 0 rg BT 528.71 230.65 Td (cash ) Tj ET Q q 0 0 0 rg BT 544.73 230.65 Td (flows ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 221.05 Td (we ) Tj ET Q q 0 0 0 rg BT 60.43 221.05 Td (receive ) Tj ET Q q 0 0 0 rg BT 85.12 221.05 Td (from ) Tj ET Q q 0 0 0 rg BT 102.28 221.05 Td (our ) Tj ET Q q 0 0 0 rg BT 114.54 221.05 Td (subsidiaries. ) Tj ET Q q 0 0 0 rg BT 155.92 221.05 Td (In ) Tj ET Q q 0 0 0 rg BT 164.19 221.05 Td (limited ) Tj ET Q q 0 0 0 rg BT 188.45 221.05 Td (instances, ) Tj ET Q q 0 0 0 rg BT 221.38 221.05 Td (including ) Tj ET Q q 0 0 0 rg BT 253.20 221.05 Td (the ) Tj ET Q q 0 0 0 rg BT 264.58 221.05 Td (transaction ) Tj ET Q q 0 0 0 rg BT 301.28 221.05 Td (noted ) Tj ET Q q 0 0 0 rg BT 320.65 221.05 Td (below) Tj ET Q q 0 0 0 rg BT 339.68 221.05 Td (, ) Tj ET Q q 0 0 0 rg BT 343.29 221.05 Td (we ) Tj ET Q q 0 0 0 rg BT 354.22 221.05 Td (enter ) Tj ET Q q 0 0 0 rg BT 371.81 221.05 Td (into ) Tj ET Q q 0 0 0 rg BT 385.86 221.05 Td (forward ) Tj ET Q q 0 0 0 rg BT 412.78 221.05 Td (foreign ) Tj ET Q q 0 0 0 rg BT 437.48 221.05 Td (exchange ) Tj ET Q q 0 0 0 rg BT 469.29 221.05 Td (contracts ) Tj ET Q q 0 0 0 rg BT 499.77 221.05 Td (to ) Tj ET Q q 0 0 0 rg BT 507.59 221.05 Td (minimize ) Tj ET Q q 0 0 0 rg BT 539.41 221.05 Td (foreign ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 211.45 Td (currency ) Tj ET Q q 0 0 0 rg BT 79.48 211.45 Td (exchange ) Tj ET Q q 0 0 0 rg BT 111.68 211.45 Td (rate ) Tj ET Q q 0 0 0 rg BT 125.67 211.45 Td (risk.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 195.85 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 195.85 Td (e ) Tj ET Q q 0 0 0 rg BT 61.96 195.85 Td (have ) Tj ET Q q 0 0 0 rg BT 79.07 195.85 Td (not ) Tj ET Q q 0 0 0 rg BT 91.30 195.85 Td (attempted ) Tj ET Q q 0 0 0 rg BT 124.84 195.85 Td (to ) Tj ET Q q 0 0 0 rg BT 133.07 195.85 Td (hedge ) Tj ET Q q 0 0 0 rg BT 154.18 195.85 Td (the ) Tj ET Q q 0 0 0 rg BT 165.95 195.85 Td (foreign ) Tj ET Q q 0 0 0 rg BT 191.06 195.85 Td (currency ) Tj ET Q q 0 0 0 rg BT 221.04 195.85 Td (exchange ) Tj ET Q q 0 0 0 rg BT 253.25 195.85 Td (risk ) Tj ET Q q 0 0 0 rg BT 267.25 195.85 Td (on ) Tj ET Q q 0 0 0 rg BT 277.26 195.85 Td (the ) Tj ET Q q 0 0 0 rg BT 289.04 195.85 Td (2017 ) Tj ET Q q 0 0 0 rg BT 307.04 195.85 Td (Euro ) Tj ET Q q 0 0 0 rg BT 324.45 195.85 Td (T) Tj ET Q q 0 0 0 rg BT 328.78 195.85 Td (erm ) Tj ET Q q 0 0 0 rg BT 343.22 195.85 Td (Loan ) Tj ET Q q 0 0 0 rg BT 361.66 195.85 Td (and ) Tj ET Q q 0 0 0 rg BT 375.21 195.85 Td (therefore ) Tj ET Q q 0 0 0 rg BT 406.09 195.85 Td (may ) Tj ET Q q 0 0 0 rg BT 421.86 195.85 Td (continue ) Tj ET Q q 0 0 0 rg BT 451.41 195.85 Td (to ) Tj ET Q q 0 0 0 rg BT 459.64 195.85 Td (experience ) Tj ET Q q 0 0 0 rg BT 496.28 195.85 Td (significant ) Tj ET Q q 0 0 0 rg BT 532.06 195.85 Td (gains ) Tj ET Q q 0 0 0 rg BT 550.95 195.85 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 186.25 Td (losses ) Tj ET Q q 0 0 0 rg BT 70.61 186.25 Td (on ) Tj ET Q q 0 0 0 rg BT 80.61 186.25 Td (the ) Tj ET Q q 0 0 0 rg BT 92.39 186.25 Td (translation ) Tj ET Q q 0 0 0 rg BT 128.16 186.25 Td (of ) Tj ET Q q 0 0 0 rg BT 136.82 186.25 Td (the ) Tj ET Q q 0 0 0 rg BT 148.59 186.25 Td (2017 ) Tj ET Q q 0 0 0 rg BT 166.59 186.25 Td (Euro ) Tj ET Q q 0 0 0 rg BT 184.00 186.25 Td (T) Tj ET Q q 0 0 0 rg BT 188.33 186.25 Td (erm ) Tj ET Q q 0 0 0 rg BT 202.77 186.25 Td (Loan ) Tj ET Q q 0 0 0 rg BT 221.20 186.25 Td (into ) Tj ET Q q 0 0 0 rg BT 235.65 186.25 Td (dollars ) Tj ET Q q 0 0 0 rg BT 259.42 186.25 Td (due ) Tj ET Q q 0 0 0 rg BT 272.97 186.25 Td (to ) Tj ET Q q 0 0 0 rg BT 281.20 186.25 Td (movements ) Tj ET Q q 0 0 0 rg BT 320.08 186.25 Td (in ) Tj ET Q q 0 0 0 rg BT 328.30 186.25 Td (exchange ) Tj ET Q q 0 0 0 rg BT 360.50 186.25 Td (rates ) Tj ET Q q 0 0 0 rg BT 377.61 186.25 Td (between ) Tj ET Q q 0 0 0 rg BT 406.26 186.25 Td (the ) Tj ET Q q 0 0 0 rg BT 418.03 186.25 Td (Euro ) Tj ET Q q 0 0 0 rg BT 435.58 186.25 Td (and ) Tj ET Q q 0 0 0 rg BT 449.13 186.25 Td (the ) Tj ET Q q 0 0 0 rg BT 460.91 186.25 Td (dollar) Tj ET Q q 0 0 0 rg BT 479.13 186.25 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 170.65 Td (On ) Tj ET Q q 0 0 0 rg BT 61.63 170.65 Td (March ) Tj ET Q q 0 0 0 rg BT 84.86 170.65 Td (1) Tj ET Q q 0 0 0 rg BT 88.56 170.65 Td (1, ) Tj ET Q q 0 0 0 rg BT 96.92 170.65 Td (2015, ) Tj ET Q q 0 0 0 rg BT 117.27 170.65 Td (we ) Tj ET Q q 0 0 0 rg BT 128.95 170.65 Td (entered ) Tj ET Q q 0 0 0 rg BT 154.84 170.65 Td (into ) Tj ET Q q 0 0 0 rg BT 169.64 170.65 Td (a ) Tj ET Q q 0 0 0 rg BT 175.54 170.65 Td (number ) Tj ET Q q 0 0 0 rg BT 202.33 170.65 Td (of ) Tj ET Q q 0 0 0 rg BT 211.35 170.65 Td (forward ) Tj ET Q q 0 0 0 rg BT 239.02 170.65 Td (foreign ) Tj ET Q q 0 0 0 rg BT 264.48 170.65 Td (exchange ) Tj ET Q q 0 0 0 rg BT 297.03 170.65 Td (contracts, ) Tj ET Q q 0 0 0 rg BT 330.26 170.65 Td (with ) Tj ET Q q 0 0 0 rg BT 346.83 170.65 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 380.28 170.65 Td (notional ) Tj ET Q q 0 0 0 rg BT 408.85 170.65 Td (amounts ) Tj ET Q q 0 0 0 rg BT 438.31 170.65 Td (of ) Tj ET Q q 0 0 0 rg BT 447.33 170.65 Td (approximately ) Tj ET Q q 0 0 0 rg BT 495.89 170.65 Td (US$ ) Tj ET Q q 0 0 0 rg BT 512.47 170.65 Td (76.9 ) Tj ET Q q 0 0 0 rg BT 528.82 170.65 Td (million, ) Tj ET Q q 0 0 0 rg BT 556.28 170.65 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 161.05 Td (reduce ) Tj ET Q q 0 0 0 rg BT 73.02 161.05 Td (our ) Tj ET Q q 0 0 0 rg BT 85.88 161.05 Td (exposure ) Tj ET Q q 0 0 0 rg BT 116.96 161.05 Td (to ) Tj ET Q q 0 0 0 rg BT 125.39 161.05 Td (movements ) Tj ET Q q 0 0 0 rg BT 164.47 161.05 Td (in ) Tj ET Q q 0 0 0 rg BT 172.89 161.05 Td (the ) Tj ET Q q 0 0 0 rg BT 184.87 161.05 Td (USD ) Tj ET Q q 0 0 0 rg BT 203.07 161.05 Td (to ) Tj ET Q q 0 0 0 rg BT 211.50 161.05 Td (EUR ) Tj ET Q q 0 0 0 rg BT 229.70 161.05 Td (and ) Tj ET Q q 0 0 0 rg BT 243.45 161.05 Td (USD ) Tj ET Q q 0 0 0 rg BT 261.66 161.05 Td (to ) Tj ET Q q 0 0 0 rg BT 270.08 161.05 Td (CZK ) Tj ET Q q 0 0 0 rg BT 288.28 161.05 Td (exchange ) Tj ET Q q 0 0 0 rg BT 320.69 161.05 Td (rates ) Tj ET Q q 0 0 0 rg BT 337.99 161.05 Td (related ) Tj ET Q q 0 0 0 rg BT 361.95 161.05 Td (to ) Tj ET Q q 0 0 0 rg BT 370.38 161.05 Td (contractual ) Tj ET Q q 0 0 0 rg BT 408.11 161.05 Td (payments ) Tj ET Q q 0 0 0 rg BT 440.97 161.05 Td (under ) Tj ET Q q 0 0 0 rg BT 461.39 161.05 Td (dollar) Tj ET Q q 0 0 0 rg BT 479.89 161.05 Td (-denominated ) Tj ET Q q 0 0 0 rg BT 526.07 161.05 Td (agreements ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 151.45 Td (expected ) Tj ET Q q 0 0 0 rg BT 79.93 151.45 Td (to ) Tj ET Q q 0 0 0 rg BT 88.15 151.45 Td (be ) Tj ET Q q 0 0 0 rg BT 97.70 151.45 Td (made ) Tj ET Q q 0 0 0 rg BT 117.02 151.45 Td (during ) Tj ET Q q 0 0 0 rg BT 139.91 151.45 Td (2015.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 135.85 Td (Inter) Tj ET Q q 0 0 0 rg BT 66.68 135.85 Td (est ) Tj ET Q q 0 0 0 rg BT 78.01 135.85 Td (Rate ) Tj ET Q q 0 0 0 rg BT 96.00 135.85 Td (Risk ) Tj ET Q q 0 0 0 rg BT 113.57 135.85 Td (Management) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 120.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 63.87 120.25 Td (2017 ) Tj ET Q q 0 0 0 rg BT 81.80 120.25 Td (Euro ) Tj ET Q q 0 0 0 rg BT 99.14 120.25 Td (T) Tj ET Q q 0 0 0 rg BT 103.47 120.25 Td (erm ) Tj ET Q q 0 0 0 rg BT 117.83 120.25 Td (Loan ) Tj ET Q q 0 0 0 rg BT 136.20 120.25 Td (bears ) Tj ET Q q 0 0 0 rg BT 155.01 120.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 180.48 120.25 Td (at ) Tj ET Q q 0 0 0 rg BT 188.19 120.25 Td (a ) Tj ET Q q 0 0 0 rg BT 193.66 120.25 Td (variable ) Tj ET Q q 0 0 0 rg BT 221.35 120.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 235.27 120.25 Td (based ) Tj ET Q q 0 0 0 rg BT 255.42 120.25 Td (on ) Tj ET Q q 0 0 0 rg BT 265.34 120.25 Td (EURIBOR ) Tj ET Q q 0 0 0 rg BT 302.39 120.25 Td (plus ) Tj ET Q q 0 0 0 rg BT 317.65 120.25 Td (an ) Tj ET Q q 0 0 0 rg BT 327.13 120.25 Td (applicable ) Tj ET Q q 0 0 0 rg BT 361.93 120.25 Td (mar) Tj ET Q q 0 0 0 rg BT 374.22 120.25 Td (gin. ) Tj ET Q q 0 0 0 rg BT 388.24 120.25 Td (W) Tj ET Q q 0 0 0 rg BT 395.15 120.25 Td (e ) Tj ET Q q 0 0 0 rg BT 400.63 120.25 Td (are ) Tj ET Q q 0 0 0 rg BT 412.32 120.25 Td (party ) Tj ET Q q 0 0 0 rg BT 430.69 120.25 Td (to ) Tj ET Q q 0 0 0 rg BT 438.84 120.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 464.31 120.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 478.23 120.25 Td (swap ) Tj ET Q q 0 0 0 rg BT 496.60 120.25 Td (agreements ) Tj ET Q q 0 0 0 rg BT 534.95 120.25 Td (intended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 110.65 Td (to ) Tj ET Q q 0 0 0 rg BT 57.72 110.65 Td (reduce ) Tj ET Q q 0 0 0 rg BT 81.04 110.65 Td (our ) Tj ET Q q 0 0 0 rg BT 93.70 110.65 Td (exposure ) Tj ET Q q 0 0 0 rg BT 124.58 110.65 Td (to ) Tj ET Q q 0 0 0 rg BT 132.80 110.65 Td (interest ) Tj ET Q q 0 0 0 rg BT 158.35 110.65 Td (rate ) Tj ET Q q 0 0 0 rg BT 172.34 110.65 Td (movements ) Tj ET Q q 0 0 0 rg BT 211.22 110.65 Td (\(see ) Tj ET Q q 0 0 0 rg BT 226.10 110.65 Td (Item ) Tj ET Q q 0 0 0 rg BT 242.76 110.65 Td (8, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 250.76 110.65 Td (Note ) Tj ET Q q 0 0 0 rg BT 268.31 110.65 Td (14, ) Tj ET Q q 0 0 0 rg BT 280.31 110.65 Td ("Financial ) Tj ET Q q 0 0 0 rg BT 315.35 110.65 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 355.12 110.65 Td (and ) Tj ET Q q 0 0 0 rg BT 368.67 110.65 Td (Fair ) Tj ET Q q 0 0 0 rg BT 383.41 110.65 Td (V) Tj ET Q q 0 0 0 rg BT 388.30 110.65 Td (alue ) Tj ET Q q 0 0 0 rg BT 403.63 110.65 Td (Measurements") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.55 110.65 Td (\).) 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Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 535.20 Td (In ) Tj ET Q q 0 0 0 rg BT 58.47 535.20 Td (our ) Tj ET Q q 0 0 0 rg BT 71.43 535.20 Td (opinion, ) Tj ET Q q 0 0 0 rg BT 100.18 535.20 Td (such ) Tj ET Q q 0 0 0 rg BT 117.14 535.20 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 159.88 535.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 190.17 535.20 Td (statements ) Tj ET Q q 0 0 0 rg BT 226.24 535.20 Td (present ) Tj ET Q q 0 0 0 rg BT 251.64 535.20 Td (fairly) Tj ET Q q 0 0 0 rg BT 268.45 535.20 Td (, ) Tj ET Q q 0 0 0 rg BT 272.75 535.20 Td (in ) Tj ET Q q 0 0 0 rg BT 281.27 535.20 Td (all ) Tj ET Q q 0 0 0 rg BT 291.57 535.20 Td (material ) Tj ET Q q 0 0 0 rg BT 320.08 535.20 Td (respects, ) Tj ET Q q 0 0 0 rg BT 350.15 535.20 Td (the ) Tj ET Q q 0 0 0 rg BT 362.22 535.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 392.51 535.20 Td (position ) Tj ET Q q 0 0 0 rg BT 420.59 535.20 Td (of ) Tj ET Q q 0 0 0 rg BT 429.56 535.20 Td (Central ) Tj ET Q q 0 0 0 rg BT 455.40 535.20 Td (European ) Tj ET Q q 0 0 0 rg BT 488.36 535.20 Td (Media ) Tj ET Q q 0 0 0 rg BT 511.10 535.20 Td (Enterprises ) Tj ET Q q 0 0 0 rg BT 549.39 535.20 Td (Ltd. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 525.60 Td (and ) Tj ET Q q 0 0 0 rg BT 63.93 525.60 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 104.59 525.60 Td (as ) Tj ET Q q 0 0 0 rg BT 114.13 525.60 Td (of ) Tj ET Q q 0 0 0 rg BT 123.68 525.60 Td (December ) Tj ET Q q 0 0 0 rg BT 159.43 525.60 Td (31,2014and2013, ) Tj ET Q q 0 0 0 rg BT 223.86 525.60 Td (and ) Tj ET Q q 0 0 0 rg BT 238.29 525.60 Td (the ) Tj ET Q q 0 0 0 rg BT 250.95 525.60 Td (results ) Tj ET Q q 0 0 0 rg BT 274.72 525.60 Td (of ) Tj ET Q q 0 0 0 rg BT 284.26 525.60 Td (their ) Tj ET Q q 0 0 0 rg BT 301.81 525.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 338.01 525.60 Td (and ) Tj ET Q q 0 0 0 rg BT 352.44 525.60 Td (their ) Tj ET Q q 0 0 0 rg BT 369.99 525.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 387.08 525.60 Td (flows ) Tj ET Q q 0 0 0 rg BT 407.74 525.60 Td (for ) Tj ET Q q 0 0 0 rg BT 419.95 525.60 Td (each ) Tj ET Q q 0 0 0 rg BT 437.49 525.60 Td (of ) Tj ET Q q 0 0 0 rg BT 447.03 525.60 Td (the ) Tj ET Q q 0 0 0 rg BT 459.69 525.60 Td (three ) Tj ET Q q 0 0 0 rg BT 478.56 525.60 Td (years ) Tj ET Q q 0 0 0 rg BT 498.32 525.60 Td (in ) Tj ET Q q 0 0 0 rg BT 507.42 525.60 Td (the ) Tj ET Q q 0 0 0 rg BT 520.08 525.60 Td (period ) Tj ET Q q 0 0 0 rg BT 543.40 525.60 Td (ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 516.00 Td (December31,2014, ) Tj ET Q q 0 0 0 rg BT 116.71 516.00 Td (in ) Tj ET Q q 0 0 0 rg BT 125.28 516.00 Td (conformity ) Tj ET Q q 0 0 0 rg BT 163.17 516.00 Td (with ) Tj ET Q q 0 0 0 rg BT 179.73 516.00 Td (accounting ) Tj ET Q q 0 0 0 rg BT 217.17 516.00 Td (principles ) Tj ET Q q 0 0 0 rg BT 251.06 516.00 Td (generally ) Tj ET Q q 0 0 0 rg BT 283.17 516.00 Td (accepted ) Tj ET Q q 0 0 0 rg BT 313.48 516.00 Td (in ) Tj ET Q q 0 0 0 rg BT 322.05 516.00 Td (the ) Tj ET Q q 0 0 0 rg BT 334.17 516.00 Td (United ) Tj ET Q q 0 0 0 rg BT 358.28 516.00 Td (States ) Tj ET Q q 0 0 0 rg BT 379.73 516.00 Td (of ) Tj ET Q q 0 0 0 rg BT 388.22 516.00 Td (America. ) Tj ET Q q 0 0 0 rg BT 419.59 516.00 Td (Also, ) Tj ET Q q 0 0 0 rg BT 439.04 516.00 Td (in ) Tj ET Q q 0 0 0 rg BT 447.61 516.00 Td (our ) Tj ET Q q 0 0 0 rg BT 460.62 516.00 Td (opinion, ) Tj ET Q q 0 0 0 rg BT 489.41 516.00 Td (the ) Tj ET Q q 0 0 0 rg BT 501.52 516.00 Td (financial ) Tj ET Q q 0 0 0 rg BT 531.85 516.00 Td (statement ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 506.40 Td (schedule, ) Tj ET Q q 0 0 0 rg BT 81.53 506.40 Td (when ) Tj ET Q q 0 0 0 rg BT 100.91 506.40 Td (considered ) Tj ET Q q 0 0 0 rg BT 137.60 506.40 Td (in ) Tj ET Q q 0 0 0 rg BT 145.87 506.40 Td (relation ) Tj ET Q q 0 0 0 rg BT 172.35 506.40 Td (to ) Tj ET Q q 0 0 0 rg BT 180.62 506.40 Td (the ) Tj ET Q q 0 0 0 rg BT 192.44 506.40 Td (basic ) Tj ET Q q 0 0 0 rg BT 210.92 506.40 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 253.40 506.40 Td (financial ) Tj ET Q q 0 0 0 rg BT 283.43 506.40 Td (statements ) Tj ET Q q 0 0 0 rg BT 319.24 506.40 Td (taken ) Tj ET Q q 0 0 0 rg BT 338.61 506.40 Td (as ) Tj ET Q q 0 0 0 rg BT 347.32 506.40 Td (a ) Tj ET Q q 0 0 0 rg BT 352.91 506.40 Td (whole, ) Tj ET Q q 0 0 0 rg BT 376.51 506.40 Td (presents ) Tj ET Q q 0 0 0 rg BT 404.77 506.40 Td (fairly) Tj ET Q q 0 0 0 rg BT 421.57 506.40 Td (, ) Tj ET Q q 0 0 0 rg BT 425.62 506.40 Td (in ) Tj ET Q q 0 0 0 rg BT 433.89 506.40 Td (all ) Tj ET Q q 0 0 0 rg BT 443.93 506.40 Td (material ) Tj ET Q q 0 0 0 rg BT 472.18 506.40 Td (respects, ) Tj ET Q q 0 0 0 rg BT 501.99 506.40 Td (the ) Tj ET Q q 0 0 0 rg BT 513.81 506.40 Td (information ) Tj ET Q q 0 0 0 rg BT 553.62 506.40 Td (set ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 496.80 Td (forth ) Tj ET Q q 0 0 0 rg BT 67.05 496.80 Td (therein.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 481.20 Td (The ) Tj ET Q q 0 0 0 rg BT 63.86 481.20 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 112.44 481.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 142.35 481.20 Td (statements ) Tj ET Q q 0 0 0 rg BT 178.04 481.20 Td (for ) Tj ET Q q 0 0 0 rg BT 189.30 481.20 Td (the ) Tj ET Q q 0 0 0 rg BT 201.00 481.20 Td (year ) Tj ET Q q 0 0 0 rg BT 216.69 481.20 Td (ended ) Tj ET Q q 0 0 0 rg BT 237.71 481.20 Td (December ) Tj ET Q q 0 0 0 rg BT 272.51 481.20 Td (31, ) Tj ET Q q 0 0 0 rg BT 284.43 481.20 Td (2014 ) Tj ET Q q 0 0 0 rg BT 302.36 481.20 Td (have ) Tj ET Q q 0 0 0 rg BT 319.39 481.20 Td (been ) Tj ET Q q 0 0 0 rg BT 336.41 481.20 Td (prepared ) Tj ET Q q 0 0 0 rg BT 366.32 481.20 Td (assuming ) Tj ET Q q 0 0 0 rg BT 398.47 481.20 Td (that ) Tj ET Q q 0 0 0 rg BT 412.39 481.20 Td (the ) Tj ET Q q 0 0 0 rg BT 424.09 481.20 Td (Company ) Tj ET Q q 0 0 0 rg BT 457.13 481.20 Td (will ) Tj ET Q q 0 0 0 rg BT 471.50 481.20 Td (continue ) Tj ET Q q 0 0 0 rg BT 500.97 481.20 Td (as ) Tj ET Q q 0 0 0 rg BT 509.56 481.20 Td (a ) Tj ET Q q 0 0 0 rg BT 515.04 481.20 Td (going ) Tj ET Q q 0 0 0 rg BT 535.18 481.20 Td (concern. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 471.60 Td (As ) Tj ET Q q 0 0 0 rg BT 60.08 471.60 Td (discussed ) Tj ET Q q 0 0 0 rg BT 92.43 471.60 Td (in ) Tj ET Q q 0 0 0 rg BT 100.34 471.60 Td (Note ) Tj ET Q q 0 0 0 rg BT 117.58 471.60 Td (2 ) Tj ET Q q 0 0 0 rg BT 123.27 471.60 Td (and ) Tj ET Q q 0 0 0 rg BT 136.50 471.60 Td (Note ) Tj ET Q q 0 0 0 rg BT 153.74 471.60 Td (5 ) Tj ET Q q 0 0 0 rg BT 159.43 471.60 Td (to ) Tj ET Q q 0 0 0 rg BT 167.34 471.60 Td (the ) Tj ET Q q 0 0 0 rg BT 178.80 471.60 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 220.92 471.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 250.59 471.60 Td (statements, ) Tj ET Q q 0 0 0 rg BT 288.05 471.60 Td (the ) Tj ET Q q 0 0 0 rg BT 299.51 471.60 Td (Company ) Tj ET Q q 0 0 0 rg BT 332.31 471.60 Td (is ) Tj ET Q q 0 0 0 rg BT 339.33 471.60 Td (required ) Tj ET Q q 0 0 0 rg BT 367.67 471.60 Td (to ) Tj ET Q q 0 0 0 rg BT 375.58 471.60 Td (fund ) Tj ET Q q 0 0 0 rg BT 391.93 471.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 415.38 471.60 Td (debt ) Tj ET Q q 0 0 0 rg BT 430.84 471.60 Td (service ) Tj ET Q q 0 0 0 rg BT 455.18 471.60 Td (obligations ) Tj ET Q q 0 0 0 rg BT 492.43 471.60 Td (in ) Tj ET Q q 0 0 0 rg BT 500.34 471.60 Td (the ) Tj ET Q q 0 0 0 rg BT 511.80 471.60 Td (next ) Tj ET Q q 0 0 0 rg BT 527.26 471.60 Td (12 ) Tj ET Q q 0 0 0 rg BT 536.95 471.60 Td (months. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 462.00 Td (This ) Tj ET Q q 0 0 0 rg BT 65.58 462.00 Td (matter ) Tj ET Q q 0 0 0 rg BT 87.87 462.00 Td (raises ) Tj ET Q q 0 0 0 rg BT 107.94 462.00 Td (substantial ) Tj ET Q q 0 0 0 rg BT 144.01 462.00 Td (doubt ) Tj ET Q q 0 0 0 rg BT 164.09 462.00 Td (about ) Tj ET Q q 0 0 0 rg BT 183.72 462.00 Td (the ) Tj ET Q q 0 0 0 rg BT 195.35 462.00 Td (Company) Tj ET Q q 0 0 0 rg BT 228.68 462.00 Td (s ) Tj ET Q q 0 0 0 rg BT 233.65 462.00 Td (ability ) Tj ET Q q 0 0 0 rg BT 255.95 462.00 Td (to ) Tj ET Q q 0 0 0 rg BT 264.02 462.00 Td (continue ) Tj ET Q q 0 0 0 rg BT 293.43 462.00 Td (as ) Tj ET Q q 0 0 0 rg BT 301.95 462.00 Td (a ) Tj ET Q q 0 0 0 rg BT 307.35 462.00 Td (going ) Tj ET Q q 0 0 0 rg BT 327.43 462.00 Td (concern. ) Tj ET Q q 0 0 0 rg BT 356.60 462.00 Td (Management) Tj ET Q q 0 0 0 rg BT 400.59 462.00 Td (s ) Tj ET Q q 0 0 0 rg BT 405.55 462.00 Td (plans ) Tj ET Q q 0 0 0 rg BT 424.30 462.00 Td (in ) Tj ET Q q 0 0 0 rg BT 432.38 462.00 Td (regard ) Tj ET Q q 0 0 0 rg BT 454.66 462.00 Td (to ) Tj ET Q q 0 0 0 rg BT 462.74 462.00 Td (this ) Tj ET Q q 0 0 0 rg BT 476.15 462.00 Td (matter ) Tj ET Q q 0 0 0 rg BT 498.44 462.00 Td (are ) Tj ET Q q 0 0 0 rg BT 510.06 462.00 Td (set ) Tj ET Q q 0 0 0 rg BT 520.80 462.00 Td (out ) Tj ET Q q 0 0 0 rg BT 532.88 462.00 Td (in ) Tj ET Q q 0 0 0 rg BT 540.96 462.00 Td (Note2 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 452.40 Td (and ) Tj ET Q q 0 0 0 rg BT 63.05 452.40 Td (Note ) Tj ET Q q 0 0 0 rg BT 80.60 452.40 Td (5. ) Tj ET Q q 0 0 0 rg BT 88.46 452.40 Td (The ) Tj ET Q q 0 0 0 rg BT 102.89 452.40 Td (financial ) Tj ET Q q 0 0 0 rg BT 132.88 452.40 Td (statements ) Tj ET Q q 0 0 0 rg BT 168.65 452.40 Td (do ) Tj ET Q q 0 0 0 rg BT 178.65 452.40 Td (not ) Tj ET Q q 0 0 0 rg BT 190.87 452.40 Td (include ) Tj ET Q q 0 0 0 rg BT 216.42 452.40 Td (any ) Tj ET Q q 0 0 0 rg BT 229.97 452.40 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 270.19 452.40 Td (that ) Tj ET Q q 0 0 0 rg BT 284.18 452.40 Td (might ) Tj ET Q q 0 0 0 rg BT 304.85 452.40 Td (result ) Tj ET Q q 0 0 0 rg BT 324.63 452.40 Td (from ) Tj ET Q q 0 0 0 rg BT 342.18 452.40 Td (the ) Tj ET Q q 0 0 0 rg BT 353.95 452.40 Td (outcome ) Tj ET Q q 0 0 0 rg BT 383.50 452.40 Td (of ) Tj ET Q q 0 0 0 rg BT 392.16 452.40 Td (this ) Tj ET Q q 0 0 0 rg BT 405.72 452.40 Td (uncertainty) Tj ET Q q 0 0 0 rg BT 441.18 452.40 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 436.80 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 436.80 Td (e ) Tj ET Q q 0 0 0 rg BT 61.85 436.80 Td (have ) Tj ET Q q 0 0 0 rg BT 78.85 436.80 Td (also ) Tj ET Q q 0 0 0 rg BT 93.63 436.80 Td (audited, ) Tj ET Q q 0 0 0 rg BT 121.07 436.80 Td (in ) Tj ET Q q 0 0 0 rg BT 129.19 436.80 Td (accordance ) Tj ET Q q 0 0 0 rg BT 167.05 436.80 Td (with ) Tj ET Q q 0 0 0 rg BT 183.17 436.80 Td (the ) Tj ET Q q 0 0 0 rg BT 194.83 436.80 Td (standards ) Tj ET Q q 0 0 0 rg BT 226.94 436.80 Td (of ) Tj ET Q q 0 0 0 rg BT 235.50 436.80 Td (the ) Tj ET Q q 0 0 0 rg BT 247.17 436.80 Td (Public ) Tj ET Q q 0 0 0 rg BT 269.50 436.80 Td (Company ) Tj ET Q q 0 0 0 rg BT 302.09 436.80 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 341.31 436.80 Td (Oversight ) Tj ET Q q 0 0 0 rg BT 374.75 436.80 Td (Board ) Tj ET Q q 0 0 0 rg BT 396.20 436.80 Td (\(United ) Tj ET Q q 0 0 0 rg BT 422.53 436.80 Td (States\), ) Tj ET Q q 0 0 0 rg BT 448.19 436.80 Td (the ) Tj ET Q q 0 0 0 rg BT 459.86 436.80 Td (Company's ) Tj ET Q q 0 0 0 rg BT 497.42 436.80 Td (internal ) Tj ET Q q 0 0 0 rg BT 523.75 436.80 Td (control ) Tj ET Q q 0 0 0 rg BT 548.30 436.80 Td (over ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 427.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 80.27 427.20 Td (reporting ) Tj ET Q q 0 0 0 rg BT 112.38 427.20 Td (as ) Tj ET Q q 0 0 0 rg BT 121.82 427.20 Td (of ) Tj ET Q q 0 0 0 rg BT 131.27 427.20 Td (December ) Tj ET Q q 0 0 0 rg BT 166.92 427.20 Td (31,2014, ) Tj ET Q q 0 0 0 rg BT 199.70 427.20 Td (based ) Tj ET Q q 0 0 0 rg BT 220.70 427.20 Td (on ) Tj ET Q q 0 0 0 rg BT 231.48 427.20 Td (the ) Tj ET Q q 0 0 0 rg BT 244.04 427.20 Td (criteria ) Tj ET Q q 0 0 0 rg BT 269.47 427.20 Td (established ) Tj ET Q q 0 0 0 rg BT 307.80 427.20 Td (in) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 316.03 427.20 Td (Internal ) Tj ET Q q 0 0 0 rg BT 344.58 427.20 Td (Contr) Tj ET Q q 0 0 0 rg BT 362.96 427.20 Td (ol-Integrated ) Tj ET Q q 0 0 0 rg BT 407.95 427.20 Td (Framework\(2013\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.61 427.20 Td ( ) Tj ET Q q 0 0 0 rg BT 471.39 427.20 Td (issued ) Tj ET Q q 0 0 0 rg BT 494.17 427.20 Td (by ) Tj ET Q q 0 0 0 rg BT 504.96 427.20 Td (the ) Tj ET Q q 0 0 0 rg BT 517.51 427.20 Td (Committee ) Tj ET Q q 0 0 0 rg BT 555.85 427.20 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 417.60 Td (Sponsoring ) Tj ET Q q 0 0 0 rg BT 87.70 417.60 Td (Or) Tj ET Q q 0 0 0 rg BT 96.00 417.60 Td (ganizations ) Tj ET Q q 0 0 0 rg BT 134.19 417.60 Td (of ) Tj ET Q q 0 0 0 rg BT 142.61 417.60 Td (the ) Tj ET Q q 0 0 0 rg BT 154.01 417.60 Td (T) Tj ET Q q 0 0 0 rg BT 158.62 417.60 Td (readway ) Tj ET Q q 0 0 0 rg BT 187.46 417.60 Td (Commission ) Tj ET Q q 0 0 0 rg BT 229.67 417.60 Td (and ) Tj ET Q q 0 0 0 rg BT 242.98 417.60 Td (our ) Tj ET Q q 0 0 0 rg BT 255.40 417.60 Td (report ) Tj ET Q q 0 0 0 rg BT 276.25 417.60 Td (datedMarch ) Tj ET Q q 0 0 0 rg BT 318.21 417.60 Td (12, ) Tj ET Q q 0 0 0 rg BT 329.97 417.60 Td (2015expressed ) Tj ET Q q 0 0 0 rg BT 381.26 417.60 Td (an ) Tj ET Q q 0 0 0 rg BT 390.57 417.60 Td (unqualified ) Tj ET Q q 0 0 0 rg BT 428.76 417.60 Td (opinion ) Tj ET Q q 0 0 0 rg BT 454.96 417.60 Td (on ) Tj ET Q q 0 0 0 rg BT 464.71 417.60 Td (the ) Tj ET Q q 0 0 0 rg BT 476.24 417.60 Td (Company's ) Tj ET Q q 0 0 0 rg BT 513.66 417.60 Td (internal ) Tj ET Q q 0 0 0 rg BT 539.85 417.60 Td (control ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 408.00 Td (over ) Tj ET Q q 0 0 0 rg BT 65.71 408.00 Td (financial ) Tj ET Q q 0 0 0 rg BT 95.70 408.00 Td (reporting.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 386.40 Td (DELOITTE ) Tj ET Q q 0 0 0 rg BT 90.15 386.40 Td (LLP) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 364.80 Td (London, ) Tj ET Q q 0 0 0 rg BT 78.39 364.80 Td (United ) Tj ET Q q 0 0 0 rg BT 102.16 364.80 Td (Kingdom) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 352.20 Td (March12, 2015) Tj ET Q BT /F1 8.00 Tf ET endstream endobj 91 0 obj <>] /Rotate 0 /Contents 92 0 R>> endobj 92 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 236.70 754.10 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 284.56 754.10 Td (TED BALANCE SHEETS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 230.35 744.50 Td (\(US$ 000) Tj ET Q q 0 0 0 rg BT 263.61 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 309.46 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 341.31 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 358.28 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (43) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 687.50 330.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 687.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 687.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 687.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 661.50 330.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 661.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 661.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 661.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 635.50 330.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 635.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 635.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 635.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 609.50 330.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 609.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 609.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 609.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 583.50 330.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 583.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 583.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 583.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 557.50 330.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 557.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 557.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 557.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 531.50 330.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 531.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 531.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 531.50 89.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 380 713.5 m 469 713.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 473 713.5 m 562 713.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 622.5 m 469 622.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473 622.5 m 562 622.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 531.5 m 469 531.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473 531.5 m 562 531.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 518.5 m 469 518.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 506.5 m 469 506.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 504.5 m 469 504.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473 518.5 m 562 518.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473 506.5 m 562 506.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473 504.5 m 562 504.5 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 717.75 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.00 717.73 Td (December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.00 717.73 Td (December 31, 2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 704.73 Td (ASSETS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 691.73 Td (Current assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 678.75 Td (Cash and cash equivalents) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.50 678.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.80 678.75 Td (34,298) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.50 678.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 678.75 Td (102,322) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 665.75 Td (Accounts receivable, net \(Note 7\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.80 665.75 Td (175,866) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 665.75 Td (169,054) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 652.75 Td (Program rights, net \(Note 6\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.80 652.75 Td (99,358) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 652.75 Td (96,099) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 639.75 Td (Other current assets \(Note 8\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.80 639.75 Td (35,481) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 639.75 Td (42,803) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 626.75 Td (Assets held for sale \(Note 3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.80 626.75 Td (29,866) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 626.75 Td (117,002) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 613.73 Td (Total current assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 439.80 613.73 Td (374,869) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.80 613.73 Td (527,280) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 600.73 Td (Non-current assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 587.75 Td (Property, plant and equipment, net \(Note 9\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.80 587.75 Td (114,335) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 587.75 Td (142,907) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 574.75 Td (Program rights, net \(Note 6\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.80 574.75 Td (207,264) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 574.75 Td (272,997) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 561.75 Td (Goodwill \(Note 4\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.80 561.75 Td (681,398) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 561.75 Td (782,870) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 548.75 Td (Broadcast licenses and other intangible assets, net \(Note 4\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.80 548.75 Td (183,378) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 548.75 Td (222,119) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 535.75 Td (Other non-current assets \(Note 8\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.80 535.75 Td (58,116) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 535.75 Td (13,700) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 522.73 Td (Total non-current assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 433.80 522.73 Td (1,244,491) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.80 522.73 Td (1,434,593) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 509.73 Td (Total assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.50 509.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 433.80 509.73 Td (1,619,360) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.50 509.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.80 509.73 Td (1,961,873) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 463.50 330.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 463.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 463.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 463.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 437.50 330.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 437.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 437.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 437.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 411.50 330.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 411.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 411.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 411.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 385.50 330.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 385.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 385.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 385.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 359.50 330.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 359.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 359.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 359.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 333.50 330.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 333.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 333.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 333.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 299.50 330.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 299.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 299.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 299.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 273.50 330.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 273.50 89.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 273.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 273.50 89.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 234.50 330.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 234.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 234.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 234.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 208.50 330.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 208.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 208.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 208.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 182.50 330.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 182.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 182.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 182.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 156.50 330.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 156.50 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 156.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 156.50 89.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 411.5 m 469 411.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473 411.5 m 562 411.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 411.5 m 469 411.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473 411.5 m 562 411.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 359.5 m 469 359.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473 359.5 m 562 359.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 182.5 m 469 182.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473 182.5 m 562 182.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 156.5 m 469 156.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473 156.5 m 562 156.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 143.5 m 469 143.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 131.5 m 469 131.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 129.5 m 469 129.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473 143.5 m 562 143.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473 131.5 m 562 131.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473 129.5 m 562 129.5 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 480.73 Td (LIABILITIES AND EQUITY) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.50 480.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.50 480.75 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 467.73 Td (Current liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.50 467.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.50 467.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 454.75 Td (Accounts payable and accrued liabilities \(Note 10\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.50 454.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.80 454.75 Td (179,224) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.50 454.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 454.75 Td (277,680) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 441.75 Td (Current portion of long-term debt and other financing arrangements \(Note 5\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.80 441.75 Td (252,859) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 441.75 Td (1,461) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 428.75 Td (Other current liabilities \(Note 11\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.80 428.75 Td (7,812) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 428.75 Td (14,011) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 415.75 Td (Liabilities held for sale \(Note 3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.80 415.75 Td (10,632) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 415.75 Td (29,529) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 402.73 Td (Total current liabilities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 439.80 402.73 Td (450,527) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.80 402.73 Td (322,681) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 389.73 Td (Non-current liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.50 389.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.50 389.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 376.75 Td (Long-term debt and other financing arrangements \(Note 5\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.80 376.75 Td (621,240) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 376.75 Td (962,802) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 363.75 Td (Other non-current liabilities \(Note 11\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.80 363.75 Td (46,485) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 363.75 Td (27,499) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 350.73 Td (Total non-current liabilities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 439.80 350.73 Td (667,725) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.80 350.73 Td (990,301) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 337.75 Td (Commitments and contingencies \(Note 21\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 324.73 Td (Temporary equity) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 311.75 Td (200,000 shares of Series B Convertible Redeemable Preferred Stock of US$ 0.08 each ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 303.75 Td (\(December 31, 2013 - 200,000\) \(Note 12\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.80 303.75 Td (223,926) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 303.75 Td (207,890) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 290.73 Td (EQUITY) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.50 290.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.50 290.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 277.75 Td (CME Ltd. shareholders equity \(Note 13\):) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.50 277.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.50 277.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.50 264.75 Td (One share of Series A Convertible Preferred Stock of US$ 0.08 each \(December 31, 2013 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.50 256.75 Td (one\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 457.80 256.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 256.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.50 244.45 Td (135,335,258 shares of Class A Common Stock of US$ 0.08 each \(December 31, 2013 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.50 236.50 Td (134,837,442\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.80 238.75 Td (10,827) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 238.75 Td (10,787) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.50 225.75 Td (Nil shares of Class B Common Stock of US$ 0.08 each \(December 31, 2013 nil\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 457.80 225.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 225.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.50 212.75 Td (Additional paid-in capital) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.80 212.75 Td (1,928,920) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.80 212.75 Td (1,704,066) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.50 199.75 Td (Accumulated deficit) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.10 199.75 Td (\(1,490,344) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.80 199.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 524.10 199.75 Td (\(1,262,916) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 199.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.50 186.75 Td (Accumulated other comprehensive loss) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.10 186.75 Td (\(169,609) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.80 186.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 186.75 Td (\(11,829) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 186.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 173.75 Td (Total CME Ltd. shareholders equity) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.80 173.75 Td (279,794) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 173.75 Td (440,108) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.50 160.75 Td (Noncontrolling interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 445.10 160.75 Td (\(2,612) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.80 160.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 160.75 Td (893) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 147.73 Td (Total equity) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 439.80 147.73 Td (277,182) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.80 147.73 Td (441,001) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 134.73 Td (Total liabilities and equity) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.50 134.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 433.80 134.73 Td (1,619,360) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.50 134.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.80 134.73 Td (1,961,873) Tj ET Q BT /F1 8.00 Tf ET BT /F3 8.00 Tf ET q 0 0 0 rg BT 164.80 115.40 Td (The accompanying notes ar) Tj ET Q q 0 0 0 rg BT 253.16 115.40 Td (e an integral part of these consolidated financial statements.) 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Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 148.40 754.10 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 196.26 754.10 Td (TED ST) Tj ET Q q 0 0 0 rg BT 223.90 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 229.08 754.10 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 281.02 754.10 Td ( OPERA) Tj ET Q q 0 0 0 rg BT 310.42 754.10 Td (TIONS ) Tj ET Q q 0 0 0 rg BT 336.88 754.10 Td (AND COMPREHENSIVE INCOME) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 230.35 744.50 Td (\(US$ 000) Tj ET Q q 0 0 0 rg BT 263.61 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 309.46 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 341.31 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 358.28 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (44) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 702.50 324.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 702.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 702.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 702.50 60.00 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gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 650.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 624.50 324.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 624.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 624.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 624.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 624.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 624.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 598.50 324.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 598.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 598.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 598.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 598.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 598.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 572.50 324.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 572.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 572.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 572.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 572.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 572.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 546.50 324.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 546.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 546.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 546.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 546.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 546.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 520.50 324.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 520.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 520.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 520.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 520.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 520.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 494.50 324.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 494.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 494.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 494.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 494.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 494.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 468.50 324.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 468.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 468.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 468.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 468.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 468.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 442.50 324.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 442.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 442.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 442.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 442.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 442.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 416.50 324.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 416.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 416.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 416.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 416.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 416.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 390.50 324.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 390.50 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 390.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 390.50 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 390.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 390.50 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 363.50 324.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 363.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 363.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 363.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 363.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 363.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 337.50 324.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 337.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 337.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 337.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 337.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 337.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 311.50 324.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 311.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 311.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 311.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 311.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 311.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 285.50 324.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 285.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 285.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 285.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 285.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 285.50 60.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 374 715.5 m 434 715.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 434 715.5 m 438 715.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 438 715.5 m 498 715.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498 715.5 m 502 715.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502 715.5 m 562 715.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 374 702.5 m 434 702.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 438 702.5 m 498 702.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502 715.5 m 562 715.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502 702.5 m 562 702.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 374 702.5 m 434 702.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502 702.5 m 562 702.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 624.5 m 434 624.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 624.5 m 498 624.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 624.5 m 562 624.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 572.5 m 434 572.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 572.5 m 498 572.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 572.5 m 562 572.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 481.5 m 434 481.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 481.5 m 498 481.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 481.5 m 562 481.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 455.5 m 434 455.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 455.5 m 498 455.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 455.5 m 562 455.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 429.5 m 434 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 429.5 m 498 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 429.5 m 562 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 429.5 m 434 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 429.5 m 498 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 429.5 m 562 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 403.5 m 434 403.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 391.5 m 434 391.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 389.5 m 434 389.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 403.5 m 498 403.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 391.5 m 498 391.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 389.5 m 498 389.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 403.5 m 562 403.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 391.5 m 562 391.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 389.5 m 562 389.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 324.5 m 434 324.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 324.5 m 434 324.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 324.5 m 498 324.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 311.5 m 498 311.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 324.5 m 562 324.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 311.5 m 562 311.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 311.5 m 434 311.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 311.5 m 498 311.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 311.5 m 562 311.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 285.5 m 434 285.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 273.5 m 434 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 271.5 m 434 271.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 285.5 m 498 285.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 273.5 m 498 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 271.5 m 498 271.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 285.5 m 562 285.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 273.5 m 562 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 271.5 m 562 271.5 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.25 719.73 Td (For The Year Ending December 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 706.75 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.50 706.73 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.50 706.73 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 542.50 706.73 Td (2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 693.73 Td (Net revenues) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.50 693.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 404.80 693.73 Td (680,793) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.50 693.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.80 693.73 Td (633,134) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 504.50 693.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.80 693.73 Td (705,999) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 680.73 Td (Operating expenses:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 667.75 Td (Content costs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.80 667.75 Td (358,379) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.80 667.75 Td (422,115) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 667.75 Td (365,684) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 654.75 Td (Other operating costs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.80 654.75 Td (85,478) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.80 654.75 Td (104,519) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 654.75 Td (94,922) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 641.75 Td (Depreciation of property, plant and equipment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.80 641.75 Td (32,836) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.80 641.75 Td (37,175) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 641.75 Td (41,506) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 628.75 Td (Amortization of broadcast licenses and other intangibles \(Note 4\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.80 628.75 Td (12,348) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.80 628.75 Td (14,761) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 628.75 Td (42,707) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 615.73 Td (Cost of revenues) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 404.80 615.73 Td (489,041) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.80 615.73 Td (578,570) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.80 615.73 Td (544,819) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 602.75 Td (Selling, general and administrative expenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.80 602.75 Td (143,616) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.80 602.75 Td (136,393) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 602.75 Td (124,766) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 589.75 Td (Restructuring costs \(Note 15\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.80 589.75 Td (9,856) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.80 589.75 Td (18,512) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 589.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 576.75 Td (Impairment charge \(Note 4\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.80 576.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.80 576.75 Td (79,676) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 576.75 Td (516,203) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 563.73 Td (Operating income / \(loss\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.80 563.73 Td (38,280) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.10 563.73 Td (\(180,017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.80 563.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 563.73 Td (\(479,789) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 563.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 550.75 Td (Interest income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.80 550.75 Td (294) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.80 550.75 Td (496) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 550.75 Td (726) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 537.75 Td (Interest expense \(Note 16\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.10 537.75 Td (\(142,005) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.80 537.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.10 537.75 Td (\(111,709) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.80 537.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.10 537.75 Td (\(127,654) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 537.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 524.75 Td (Loss on extinguishment of debt \(Note 5\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.10 524.75 Td (\(39,203) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.80 524.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 470.10 524.75 Td (\(23,115) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.80 524.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.10 524.75 Td (\(198) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 524.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 511.75 Td (Foreign currency exchange \(loss\) / gain, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.10 511.75 Td (\(12,767) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.80 511.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.80 511.75 Td (20,187) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 511.75 Td (6,386) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 498.75 Td (Change in fair value of derivatives \(Note 14\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.80 498.75 Td (2,311) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.80 498.75 Td (104) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 498.75 Td (49,027) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 485.75 Td (Other income / \(expense\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.80 485.75 Td (267) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.10 485.75 Td (\(373) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.80 485.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 485.75 Td (1,043) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 472.73 Td (Loss before tax) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.10 472.73 Td (\(152,823) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 430.80 472.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.10 472.73 Td (\(294,427) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.80 472.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 472.73 Td (\(550,459) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 472.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 459.75 Td (Credit for income taxes \(Note 18\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.80 459.75 Td (1,358) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.80 459.75 Td (17,993) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 459.75 Td (14,751) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 446.73 Td (Loss from continuing operations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.10 446.73 Td (\(151,465) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 430.80 446.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.10 446.73 Td (\(276,434) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.80 446.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 446.73 Td (\(535,708) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 446.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 433.75 Td (Loss from discontinued operations, net of tax \(Note 3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.10 433.75 Td (\(80,431) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.80 433.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.10 433.75 Td (\(5,099) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.80 433.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 433.75 Td (\(10,685) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 433.75 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 420.73 Td (Net loss) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.10 420.73 Td (\(231,896) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 430.80 420.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.10 420.73 Td (\(281,533) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.80 420.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 420.73 Td (\(546,393) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 420.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 407.75 Td (Net loss attributable to noncontrolling interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.80 407.75 Td (4,468) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.80 407.75 Td (3,882) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 407.75 Td (10,713) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 394.73 Td (Net loss attributable to CME Ltd.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.50 394.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.10 394.73 Td (\(227,428) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 430.80 394.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.50 394.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.10 394.73 Td (\(277,651) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.80 394.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 504.50 394.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 394.73 Td (\(535,680) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 394.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 367.73 Td (Net loss) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.50 367.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.10 367.73 Td (\(231,896) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 430.80 367.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.50 367.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.10 367.73 Td (\(281,533) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.80 367.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 504.50 367.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 367.73 Td (\(546,393) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 367.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 354.73 Td (Other comprehensive \(loss\) / income:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 341.75 Td (Currency translation adjustment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.10 341.75 Td (\(156,236) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.80 341.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 470.10 341.75 Td (\(58,200) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.80 341.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 341.75 Td (28,651) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 328.75 Td (Unrealized loss on derivative instruments \(Note 14\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.10 328.75 Td (\(581) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.80 328.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.80 328.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 328.75 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 315.73 Td (Total other comprehensive \(loss\) / income) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.10 315.73 Td (\(156,817) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 430.80 315.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.10 315.73 Td (\(58,200) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.80 315.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.80 315.73 Td (28,651) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 302.73 Td (Comprehensive loss) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.10 302.73 Td (\(388,713) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 430.80 302.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.10 302.73 Td (\(339,733) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.80 302.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 302.73 Td (\(517,742) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 302.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 289.75 Td (Comprehensive loss attributable to noncontrolling interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.80 289.75 Td (3,505) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.80 289.75 Td (4,103) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 289.75 Td (10,617) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 276.73 Td (Comprehensive loss attributable to CME Ltd.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.50 276.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.10 276.73 Td (\(385,208) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 430.80 276.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.50 276.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.10 276.73 Td (\(335,630) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.80 276.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 504.50 276.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 276.73 Td (\(507,125) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 276.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 226.50 324.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.50 226.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 226.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 226.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 226.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 226.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 196.50 324.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.50 196.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 196.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 196.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 196.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 196.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 166.50 324.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.50 166.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 166.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 166.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 166.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 166.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 136.50 324.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.50 136.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 136.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 136.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 136.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 136.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 106.50 324.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.50 106.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 106.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 106.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 106.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 106.50 60.00 -15.00 re f /GS0 gs BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 245.73 Td (PER SHARE DATA \(Note 19\):) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.00 230.75 Td (Net loss per share:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 215.75 Td (Continuing operations - Basic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.00 215.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.60 215.75 Td (\(1.11) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.30 215.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.00 215.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.60 215.75 Td (\(2.23) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.30 215.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 504.00 215.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.60 215.75 Td (\(6.83) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 215.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 200.75 Td (Continuing operations - Diluted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.60 200.75 Td (\(1.11) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.30 200.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.60 200.75 Td (\(2.23) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.30 200.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.60 200.75 Td (\(6.83) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 200.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 185.75 Td (Discontinued operations Basic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.60 185.75 Td (\(0.55) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.30 185.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.60 185.75 Td (\(0.04) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.30 185.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.60 185.75 Td (\(0.13) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 185.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 170.75 Td (Discontinued operations - Diluted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.60 170.75 Td (\(0.55) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.30 170.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.60 170.75 Td (\(0.04) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.30 170.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.60 170.75 Td (\(0.13) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 170.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 155.75 Td (Net loss attributable to CME Ltd. Basic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.60 155.75 Td (\(1.66) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.30 155.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.60 155.75 Td (\(2.27) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.30 155.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.60 155.75 Td (\(6.96) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 155.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 140.75 Td (Net loss attributable to CME Ltd. Diluted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.60 140.75 Td (\(1.66) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.30 140.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.60 140.75 Td (\(2.27) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.30 140.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.60 140.75 Td (\(6.96) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 140.75 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.00 110.75 Td (Weighted average common shares used in computing per share amounts \(000s\):) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 95.75 Td (Basic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.30 95.75 Td (146,509) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.30 95.75 Td (125,723) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 95.75 Td (76,919) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 80.75 Td (Diluted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.30 80.75 Td (146,509) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.30 80.75 Td (125,723) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 80.75 Td (76,919) Tj ET Q BT /F1 8.00 Tf ET BT /F3 8.00 Tf ET q 0 0 0 rg BT 164.80 61.40 Td (The accompanying notes ar) Tj ET Q q 0 0 0 rg BT 253.16 61.40 Td (e an integral part of these consolidated financial statements.) Tj ET Q endstream endobj 95 0 obj <>] /Rotate 0 /Contents 96 0 R>> endobj 96 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 223.05 754.10 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 270.91 754.10 Td (TED ST) Tj ET Q q 0 0 0 rg BT 298.55 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 303.73 754.10 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 355.67 754.10 Td ( EQUITY) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 254.75 744.50 Td (\(US$ 000) Tj ET Q q 0 0 0 rg BT 288.01 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 333.86 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (45) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 658.50 79.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 129.00 658.50 31.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 160.00 658.50 27.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.00 658.50 4.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 191.00 658.50 42.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 233.00 658.50 28.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 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0.9333333333333333 1 rg /GS0 gs 261.00 184.50 4.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.00 184.50 38.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 184.50 25.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.00 184.50 40.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 184.50 48.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 184.50 53.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 184.50 51.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.00 184.50 43.00 -18.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 129 715.5 m 160 715.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 160 715.5 m 187 715.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 187 715.5 m 191 715.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 191 715.5 m 233 715.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 233 715.5 m 261 715.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 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gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328 475.5 m 368 475.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 494.5 m 416 494.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 477.5 m 416 477.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 475.5 m 416 475.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416 494.5 m 469 494.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416 477.5 m 469 477.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416 475.5 m 469 475.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 494.5 m 520 494.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 477.5 m 520 477.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 475.5 m 520 475.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520 494.5 m 563 494.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520 477.5 m 563 477.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520 475.5 m 563 475.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 307.5 m 416 307.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 129 307.5 m 160 307.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 129 290.5 m 160 290.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 129 288.5 m 160 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160 307.5 m 187 307.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160 290.5 m 187 290.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160 288.5 m 187 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 191 307.5 m 233 307.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 191 290.5 m 233 290.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 191 288.5 m 233 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 233 307.5 m 261 307.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 233 290.5 m 261 290.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 233 288.5 m 261 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 307.5 m 303 307.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 290.5 m 303 290.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 288.5 m 303 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 307.5 m 328 307.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 290.5 m 328 290.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 288.5 m 328 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328 307.5 m 368 307.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328 290.5 m 368 290.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328 288.5 m 368 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 307.5 m 416 307.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 290.5 m 416 290.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 288.5 m 416 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416 307.5 m 469 307.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416 290.5 m 469 290.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416 288.5 m 469 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 307.5 m 520 307.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 290.5 m 520 290.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 288.5 m 520 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520 307.5 m 563 307.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520 290.5 m 563 290.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520 288.5 m 563 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 129 166.5 m 160 166.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 129 149.5 m 160 149.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 129 147.5 m 160 147.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160 166.5 m 187 166.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160 149.5 m 187 149.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 160 147.5 m 187 147.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 191 166.5 m 233 166.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 191 149.5 m 233 149.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 191 147.5 m 233 147.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 233 166.5 m 261 166.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 233 149.5 m 261 149.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 233 147.5 m 261 147.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 166.5 m 303 166.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 149.5 m 303 149.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 147.5 m 303 147.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 166.5 m 328 166.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 149.5 m 328 149.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 147.5 m 328 147.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328 166.5 m 368 166.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328 149.5 m 368 149.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328 147.5 m 368 147.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 166.5 m 416 166.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 149.5 m 416 149.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 147.5 m 416 147.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416 166.5 m 469 166.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416 149.5 m 469 149.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416 147.5 m 469 147.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 166.5 m 520 166.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 149.5 m 520 149.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 147.5 m 520 147.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520 166.5 m 563 166.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520 149.5 m 563 149.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520 147.5 m 563 147.5 l s BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 719.55 Td () Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 283.10 719.56 Td (CME Ltd.) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 516.50 719.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 559.50 719.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 693.55 Td () Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 145.50 707.91 Td (Series A) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 139.80 700.91 Td (Convertible) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 133.80 693.91 Td (Preferred Stock) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 214.50 700.56 Td (Class ) Tj ET Q q 0 0 0 rg BT 231.81 700.56 Td (A) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 202.45 693.56 Td (Common Stock) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 284.80 700.56 Td (Class B) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 272.95 693.56 Td (Common Stock) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 364.50 693.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 412.50 693.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 465.50 693.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 516.50 693.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 559.50 693.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 662.55 Td () Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 131.60 676.56 Td (Number) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 141.05 669.56 Td (of) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 134.50 662.56 Td (shares) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 167.60 669.56 Td (Par) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 165.00 662.56 Td (value) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 195.30 669.56 Td (Number of) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 202.00 662.56 Td (shares) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 241.10 669.56 Td (Par) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 238.50 662.56 Td (value) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 271.10 669.56 Td (Number) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 270.20 662.56 Td (of shares) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 309.60 669.56 Td (Par) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 307.00 662.56 Td (value) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 332.60 676.56 Td (Additional) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 341.90 669.56 Td (Paid-In) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 342.30 662.56 Td (Capital) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 372.80 669.56 Td (Accumulated) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 392.65 662.56 Td (Deficit) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 425.80 682.26 Td (Accumulated) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 447.70 675.26 Td (Other) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 418.95 668.26 Td (Comprehensive) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 419.60 661.26 Td (Income / \(Loss\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 471.50 669.56 Td (Noncontrolling) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 493.30 662.56 Td (Interest) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 544.15 669.56 Td (Total) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 539.25 662.56 Td (Equity) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 52.50 651.26 Td (BALANCE) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 52.50 644.26 Td (December) Tj ET Q q 0 0 0 rg BT 82.69 644.26 Td ( 31, 201) Tj ET Q q 0 0 0 rg BT 105.05 644.26 Td (1) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 150.15 644.56 Td () Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 162.50 644.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 177.15 644.56 Td () Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 198.60 644.56 Td (56,892,114) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 235.50 644.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 242.35 644.56 Td (4,551) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 272.10 644.56 Td (7,500,936) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 305.50 644.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 314.60 644.56 Td (600) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 330.50 644.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 337.10 644.56 Td (1,404,648) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 370.50 644.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 388.05 644.61 Td (\(425,702) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 413.15 644.56 Td (\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 418.50 644.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 446.90 644.56 Td (17,595) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 471.50 644.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 497.90 644.56 Td (16,250) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 522.50 644.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 532.10 644.56 Td (1,017,942) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 633.15 Td (Stock-based) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 626.15 Td (compensation) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.15 626.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.15 626.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 626.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 251.15 626.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 626.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 318.10 626.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 349.40 626.55 Td (4,249) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 406.15 626.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 459.15 626.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 510.15 626.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 544.40 626.55 Td (4,249) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 615.15 Td (Conversion of Class B) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 608.15 Td (shares to Class A shares) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.15 608.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.15 608.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 202.10 608.55 Td (7,516,936) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 247.60 608.55 Td (601) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 269.80 608.55 Td (\(7,516,936) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 300.15 608.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 312.30 608.60 Td (\(601) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 325.15 608.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 358.15 608.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 406.15 608.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 459.15 608.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 510.15 608.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 553.15 608.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 595.35 Td (Share issuances) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 153.65 593.55 Td (1) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.15 593.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 198.60 593.55 Td (12,776,079) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 242.35 593.55 Td (1,022) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 593.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 318.10 593.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 342.35 593.55 Td (127,341) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 406.15 593.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 459.15 593.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 510.15 593.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 537.40 593.55 Td (128,363) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 582.15 Td (Reclassification of) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 575.15 Td (capped call options) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.15 575.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.15 575.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 575.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 251.15 575.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 575.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 318.10 575.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 345.90 575.55 Td (21,131) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 391.55 575.60 Td (\(21,131) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 413.15 575.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 459.15 575.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 510.15 575.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 553.15 575.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 562.35 Td (Stock option exercised) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.15 560.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.15 560.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 560.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 251.15 560.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 280.90 560.55 Td (16,000) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 321.65 560.55 Td (1) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 358.15 560.55 Td (32) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 406.15 560.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 459.15 560.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 510.15 560.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 553.15 560.55 Td (33) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 547.35 Td (Other) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.15 545.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.15 545.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 545.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 251.15 545.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 545.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 318.10 545.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 347.05 545.60 Td (\(1,151) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 365.15 545.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 406.15 545.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 459.15 545.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 510.15 545.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 542.05 545.60 Td (\(1,151) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 560.15 545.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 532.35 Td (Dividends) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.15 530.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.15 530.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 530.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 251.15 530.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 530.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 318.10 530.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 358.15 530.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 406.15 530.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 459.15 530.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 504.30 530.60 Td (\(427) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 517.15 530.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 547.30 530.60 Td (\(427) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 560.15 530.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 517.35 Td (Net loss) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.15 515.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.15 515.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 515.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 251.15 515.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 515.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 318.10 515.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 358.15 515.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 388.05 515.60 Td (\(535,680) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 413.15 515.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 459.15 515.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 495.55 515.60 Td (\(10,713) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 517.15 515.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 535.05 515.60 Td (\(546,393) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 560.15 515.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 504.15 Td (Currency translation) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 497.15 Td (adjustment) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.15 498.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.15 498.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 498.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 251.15 498.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 498.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 318.10 498.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 358.15 498.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 406.15 498.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 446.90 498.55 Td (28,555) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 510.15 498.55 Td (96) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 540.90 498.55 Td (28,651) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 52.50 487.26 Td (BALANCE) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 52.50 480.26 Td (December) Tj ET Q q 0 0 0 rg BT 82.69 480.26 Td ( 31, 2012) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 153.65 480.56 Td (1) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 162.50 480.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 177.15 480.56 Td () Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 198.60 480.56 Td (77,185,129) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 235.50 480.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 242.35 480.56 Td (6,174) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 293.15 480.56 Td () Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 305.50 480.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 318.10 480.56 Td () Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 330.50 480.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 337.10 480.56 Td (1,556,250) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 370.50 480.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 388.05 480.61 Td (\(982,513) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 413.15 480.56 Td (\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 418.50 480.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 446.90 480.56 Td (46,150) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 471.50 480.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 501.40 480.56 Td (5,206) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 522.50 480.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 537.40 480.56 Td (631,267) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 469.15 Td (Stock-based) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 462.15 Td (compensation) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.15 462.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.15 462.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 462.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 251.15 462.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 462.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 318.10 462.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 349.40 462.55 Td (6,116) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 406.15 462.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 459.15 462.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 510.15 462.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 544.40 462.55 Td (6,116) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 451.15 Td (Share issuance, stock) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 444.15 Td (based compensation) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.15 444.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.15 444.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 207.40 444.55 Td (519,382) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 251.15 444.55 Td (42) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 444.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 318.10 444.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 355.80 444.60 Td (\(42) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 365.15 444.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 406.15 444.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 459.15 444.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 510.15 444.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 553.15 444.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 431.35 Td (Share issuances) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.15 429.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.15 429.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 198.60 429.55 Td (57,132,931) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 242.35 429.55 Td (4,571) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 429.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 318.10 429.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 342.35 429.55 Td (147,082) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 406.15 429.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 459.15 429.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 510.15 429.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 537.40 429.55 Td (151,653) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 418.15 Td (Acquisition of) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 411.15 Td (noncontrolling interest) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.15 411.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.15 411.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 411.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 251.15 411.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 411.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 318.10 411.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 352.30 411.60 Td (\(261) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 365.15 411.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 406.15 411.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 459.15 411.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 506.65 411.55 Td (261) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 553.15 411.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 400.15 Td (Reclassification of) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 393.15 Td (capped call options) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.15 393.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.15 393.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 393.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 251.15 393.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 393.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 318.10 393.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 349.40 393.55 Td (2,752) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 395.05 393.60 Td (\(2,752) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 413.15 393.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 459.15 393.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 510.15 393.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 553.15 393.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 381.85 Td (Preferred dividend paid) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 374.85 Td (in kind) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.15 374.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.15 374.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 374.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 251.15 374.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 374.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 318.10 374.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 347.05 374.60 Td (\(7,890) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 365.15 374.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 406.15 374.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 459.15 374.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 510.15 374.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 542.05 374.60 Td (\(7,890) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 560.15 374.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 361.35 Td (Other) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.15 359.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.15 359.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 359.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 251.15 359.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 359.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 318.10 359.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 358.15 359.55 Td (59) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 406.15 359.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 459.15 359.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 510.15 359.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 553.15 359.55 Td (59) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 346.35 Td (Dividends) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.15 344.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.15 344.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 344.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 251.15 344.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 344.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 318.10 344.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 358.15 344.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 406.15 344.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 459.15 344.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 504.30 344.60 Td (\(471) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 517.15 344.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 547.30 344.60 Td (\(471) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 560.15 344.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 331.35 Td (Net loss) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.15 329.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.15 329.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 329.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 251.15 329.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 329.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 318.10 329.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 358.15 329.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 388.05 329.60 Td (\(277,651) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 413.15 329.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 459.15 329.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 499.05 329.60 Td (\(3,882) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 517.15 329.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 535.05 329.60 Td (\(281,533) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 560.15 329.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 318.15 Td (Currency translation) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 311.15 Td (adjustment) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.15 311.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.15 311.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 311.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 251.15 311.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 311.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 318.10 311.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 358.15 311.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 406.15 311.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 444.55 311.60 Td (\(57,979) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 466.15 311.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 504.30 311.60 Td (\(221) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 517.15 311.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 538.55 311.60 Td (\(58,200) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 560.15 311.55 Td (\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 52.50 300.26 Td (BALANCE) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 52.50 293.26 Td (December) Tj ET Q q 0 0 0 rg BT 82.69 293.26 Td ( 31, 2013) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 153.65 293.56 Td (1) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 162.50 293.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 177.15 293.56 Td () Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 195.10 293.56 Td (134,837,442) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 235.50 293.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 238.85 293.56 Td (10,787) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 293.15 293.56 Td () Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 305.50 293.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 318.10 293.56 Td () Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 330.50 293.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 337.10 293.56 Td (1,704,066) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 370.50 293.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 382.80 293.61 Td (\(1,262,916) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 413.15 293.56 Td (\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 418.50 293.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 444.55 293.61 Td (\(11,829) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 466.15 293.56 Td (\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 471.50 293.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 506.65 293.56 Td (893) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 522.50 293.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 537.40 293.56 Td (441,001) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 282.15 Td (Stock-based) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 275.15 Td (compensation) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.15 275.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.15 275.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 275.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 251.15 275.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 275.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 318.10 275.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 349.40 275.55 Td (1,344) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 406.15 275.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 459.15 275.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 510.15 275.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 544.40 275.55 Td (1,344) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 260.85 Td (Warrant issuance, net) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.15 257.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.15 257.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 257.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 251.15 257.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 257.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 318.10 257.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 342.35 257.55 Td (239,586) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 406.15 257.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 459.15 257.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 510.15 257.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 537.40 257.55 Td (239,586) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 246.15 Td (Preferred dividend paid) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 239.15 Td (in kind) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.15 239.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.15 239.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 239.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 251.15 239.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 239.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 318.10 239.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 343.55 239.60 Td (\(16,036) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 365.15 239.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 406.15 239.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 459.15 239.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 510.15 239.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 538.55 239.60 Td (\(16,036) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 560.15 239.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 228.15 Td (Share issuance, stock-) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 221.15 Td (based compensation) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.15 221.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.15 221.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 207.40 221.55 Td (497,816) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 251.15 221.55 Td (40) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 221.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 318.10 221.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 355.80 221.60 Td (\(40) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 365.15 221.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 406.15 221.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 459.15 221.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 510.15 221.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 553.15 221.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 208.35 Td (Net loss) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.15 206.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.15 206.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 206.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 251.15 206.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 206.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 318.10 206.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 358.15 206.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 388.05 206.60 Td (\(227,428) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 413.15 206.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 459.15 206.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 499.05 206.60 Td (\(4,468) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 517.15 206.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 535.05 206.60 Td (\(231,896) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 560.15 206.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 195.15 Td (Unrealized loss on) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 188.15 Td (derivative instruments) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.15 188.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.15 188.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 188.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 251.15 188.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 188.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 318.10 188.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 358.15 188.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 406.15 188.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 453.30 188.60 Td (\(581) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 466.15 188.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 510.15 188.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 547.30 188.60 Td (\(581) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 560.15 188.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 177.15 Td (Currency translation) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 170.15 Td (adjustment) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.15 170.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.15 170.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 170.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 251.15 170.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 170.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 318.10 170.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 358.15 170.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 406.15 170.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 441.05 170.60 Td (\(157,199) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 466.15 170.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 506.65 170.55 Td (963) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 535.05 170.60 Td (\(156,236) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 560.15 170.55 Td (\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 52.50 159.26 Td (BALANCE) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 52.50 152.26 Td (December) Tj ET Q q 0 0 0 rg BT 82.69 152.26 Td ( 31, 2014) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 153.65 152.56 Td (1) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 162.50 152.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 177.15 152.56 Td () Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 195.10 152.56 Td (135,335,258) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 235.50 152.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 238.85 152.56 Td (10,827) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 293.15 152.56 Td () Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 305.50 152.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 318.10 152.56 Td () Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 330.50 152.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 337.10 152.56 Td (1,928,920) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 370.50 152.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 382.80 152.61 Td (\(1,490,344) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 413.15 152.56 Td (\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 418.50 152.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 441.05 152.61 Td (\(169,609) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 466.15 152.56 Td (\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 471.50 152.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 499.05 152.61 Td (\(2,612) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 517.15 152.56 Td (\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 522.50 152.56 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 537.40 152.56 Td (277,182) Tj ET Q BT /F1 8.00 Tf ET BT /F3 8.00 Tf ET q 0 0 0 rg BT 164.80 133.40 Td (The accompanying notes ar) Tj ET Q q 0 0 0 rg BT 253.16 133.40 Td (e an integral part of these consolidated financial statements.) 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0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 361.5 m 446 361.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 373.5 m 504 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 361.5 m 504 361.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 373.5 m 562 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 361.5 m 562 361.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 211.5 m 446 211.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 199.5 m 446 199.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 211.5 m 504 211.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 199.5 m 504 199.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 211.5 m 562 211.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 199.5 m 562 199.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 143.5 m 446 143.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 143.5 m 504 143.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 143.5 m 562 143.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 117.5 m 446 117.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 105.5 m 446 105.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 103.5 m 446 103.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 117.5 m 504 117.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 105.5 m 504 105.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 103.5 m 504 103.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 117.5 m 562 117.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 105.5 m 562 105.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 103.5 m 562 103.5 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 416.25 719.73 Td (For The Year Ending December 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 707.45 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 426.50 707.58 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.50 707.58 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 542.50 707.58 Td (2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 695.58 Td (CASH FLOWS FROM OPERATING ACTIVITIES:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.50 695.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.50 695.45 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 683.58 Td (Net loss) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.50 683.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.10 683.58 Td (\(231,896) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.80 683.58 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.50 683.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.10 683.58 Td (\(281,533) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 500.80 683.58 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 510.50 683.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 683.58 Td (\(546,393) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 683.58 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 671.45 Td (Adjustments to reconcile net loss to net cash used in operating activities:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.50 671.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 659.45 Td (Loss from discontinued operations, net of tax \(Note 3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.75 659.45 Td (80,431) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.80 659.45 Td (5,099) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 659.45 Td (10,685) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 647.45 Td (Amortization of program rights) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.75 647.45 Td (349,819) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.75 647.45 Td (415,931) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 647.45 Td (352,689) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 635.45 Td (Depreciation and other amortization) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.75 635.45 Td (82,619) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.75 635.45 Td (63,325) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 635.45 Td (104,313) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 623.45 Td (Interest paid in kind) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.75 623.45 Td (37,884) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 623.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 623.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 611.45 Td (Net loss on extinguishment of debt) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.75 611.45 Td (39,203) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.75 611.45 Td (23,115) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 611.45 Td (198) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 599.45 Td (Impairment charge \(Note 4\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.80 599.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.75 599.45 Td (79,676) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 599.45 Td (516,203) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 587.45 Td (Gain on disposal of fixed assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.10 587.45 Td (\(112) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 587.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.10 587.45 Td (\(109) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 587.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.10 587.45 Td (\(281) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 587.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 575.45 Td (Stock-based compensation \(Note 17\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 424.80 575.45 Td (1,344) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.80 575.45 Td (6,116) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 575.45 Td (4,249) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 563.45 Td (Change in fair value of derivatives \(Note 14\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.80 563.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.10 563.45 Td (\(104) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 563.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 563.45 Td (\(49,027) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 563.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 551.45 Td (Foreign currency exchange gain, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.10 551.45 Td (\(5,952) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 551.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.10 551.45 Td (\(18,856) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 551.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.10 551.45 Td (\(3,434) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 551.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 539.45 Td (Net change in \(net of effects of disposals of businesses\):) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.50 539.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.50 527.45 Td (Accounts receivable, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.10 527.45 Td (\(26,539) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 527.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.80 527.45 Td (4,382) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 527.45 Td (5,274) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.50 515.45 Td (Accounts payable and accrued liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.10 515.45 Td (\(10,549) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 515.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.75 515.45 Td (28,227) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.10 515.45 Td (\(9,631) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 515.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.50 503.45 Td (Program rights) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 414.10 503.45 Td (\(388,436) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 503.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.10 503.45 Td (\(357,369) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 503.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.10 503.45 Td (\(394,215) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 503.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.50 491.45 Td (Other assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.80 491.45 Td (721) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.80 491.45 Td (2,256) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.10 491.45 Td (\(2,028) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 491.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.50 479.45 Td (Accrued interest) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.10 479.45 Td (\(9,995) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 479.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.10 479.45 Td (\(8,682) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 479.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 479.45 Td (3,388) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.50 467.45 Td (Income taxes payable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 424.80 467.45 Td (2,948) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.10 467.45 Td (\(6,419) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 467.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 467.45 Td (4,706) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.50 455.45 Td (Deferred revenue) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.10 455.45 Td (\(1,012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 455.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.10 455.45 Td (\(984) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 455.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.10 455.45 Td (\(924) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 455.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.50 443.45 Td (Deferred taxes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.10 443.45 Td (\(2,206) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 443.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.10 443.45 Td (\(14,512) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 443.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 443.45 Td (\(23,875) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 443.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.50 431.45 Td (VAT and other taxes payable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.75 431.45 Td (16,486) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.10 431.45 Td (\(629) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 431.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 431.45 Td (433) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 419.58 Td (Net cash used in operating activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.50 419.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.10 419.58 Td (\(65,242) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.80 419.58 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.50 419.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.10 419.58 Td (\(61,070) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 500.80 419.58 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 510.50 419.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 534.10 419.58 Td (\(27,670) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 419.58 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 401.58 Td (CASH FLOWS FROM INVESTING ACTIVITIES:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.50 401.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.50 401.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 389.45 Td (Purchase of property, plant and equipment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.50 389.45 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.10 389.45 Td (\(28,685) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 389.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.50 389.45 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.10 389.45 Td (\(30,118) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 389.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 389.45 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 389.45 Td (\(31,327) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 389.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 377.45 Td (Proceeds from disposal of property, plant and equipment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.80 377.45 Td (137) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.80 377.45 Td (283) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 377.45 Td (236) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 365.58 Td (Net cash used in investing activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.50 365.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.10 365.58 Td (\(28,548) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.80 365.58 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.50 365.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.10 365.58 Td (\(29,835) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 500.80 365.58 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 510.50 365.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 534.10 365.58 Td (\(31,091) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 365.58 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 347.58 Td (CASH FLOWS FROM FINANCING ACTIVITIES:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.50 347.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.50 347.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 335.45 Td (Repayments of Senior Debt) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.50 335.45 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 414.10 335.45 Td (\(712,919) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 335.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.50 335.45 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.10 335.45 Td (\(310,322) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 335.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 335.45 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.10 335.45 Td (\(290,135) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 335.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 323.45 Td (Debt transactions costs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.10 323.45 Td (\(14,206) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 323.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.10 323.45 Td (\(785) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 323.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.10 323.45 Td (\(7,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 323.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 311.45 Td (Proceeds from Senior Debt) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.75 311.45 Td (550,421) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 311.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 311.45 Td (228,890) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 299.45 Td (Change in restricted cash) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.80 299.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.75 299.45 Td (20,605) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 299.45 Td (\(20,982) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 299.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 287.45 Td (Proceeds from credit facilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.75 287.45 Td (25,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 287.45 Td (40) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 287.45 Td (191,259) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 275.45 Td (Payment of credit facilities and capital leases) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.10 275.45 Td (\(1,080) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 275.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.10 275.45 Td (\(1,648) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 275.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.10 275.45 Td (\(101,196) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 275.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 263.45 Td (Issuance of common stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.75 263.45 Td (191,825) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.75 263.45 Td (157,116) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 263.45 Td (15,033) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 251.45 Td (Issuance of preferred stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.80 251.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.75 251.45 Td (200,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 251.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 239.45 Td (Equity issuance costs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.80 239.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.10 239.45 Td (\(5,410) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 239.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.10 239.45 Td (\(2,942) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 239.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 227.45 Td (Dividends paid to holders of noncontrolling interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.10 227.45 Td (\(46) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 227.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.10 227.45 Td (\(411) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 227.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.10 227.45 Td (\(308) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 227.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 215.45 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.80 215.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 215.45 Td (59) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 215.45 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 203.58 Td (Net cash provided by financing activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.50 203.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 420.75 203.58 Td (38,995) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.50 203.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.75 203.58 Td (59,244) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 510.50 203.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.75 203.58 Td (12,619) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 185.45 Td (Net cash used in discontinued operations - operating activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.10 185.45 Td (\(1,408) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 185.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.10 185.45 Td (\(1,952) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 185.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.10 185.45 Td (\(1,122) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 185.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 173.45 Td (Net cash used in discontinued operations - investing activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.10 173.45 Td (\(228) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 173.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.10 173.45 Td (\(301) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 173.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.10 173.45 Td (\(1,335) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 173.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 160.75 Td (Net cash \(used in\) / provided by discontinued operations - financing activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.10 160.75 Td (\(942) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 160.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 160.75 Td (77) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.10 160.75 Td (\(723) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 160.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 147.75 Td (Impact of exchange rate fluctuations on cash) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.10 147.75 Td (\(10,651) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 147.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.10 147.75 Td (\(384) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 147.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 147.75 Td (4,564) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 134.75 Td (Net decrease in cash and cash equivalents) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.50 134.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.10 134.75 Td (\(68,024) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 134.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.50 134.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.10 134.75 Td (\(34,221) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 134.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 134.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 134.75 Td (\(44,758) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 134.75 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 121.73 Td (CASH AND CASH EQUIVALENTS, beginning of period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 416.75 121.73 Td (102,322) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 474.75 121.73 Td (136,543) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 121.73 Td (181,301) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 108.73 Td (CASH AND CASH EQUIVALENTS, end of period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.50 108.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 420.75 108.73 Td (34,298) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.50 108.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 474.75 108.73 Td (102,322) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 510.50 108.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 108.73 Td (136,543) Tj ET Q BT /F1 8.00 Tf ET BT /F3 8.00 Tf ET q 0 0 0 rg BT 164.80 89.40 Td (The accompanying notes ar) Tj ET Q q 0 0 0 rg BT 253.16 89.40 Td (e an integral part of these consolidated financial statements.) 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Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 212.10 754.10 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 259.96 754.10 Td (TED ST) Tj ET Q q 0 0 0 rg BT 287.60 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 292.78 754.10 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 344.72 754.10 Td ( CASH FLOWS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 286.45 744.50 Td (\(US$ 000) Tj ET Q q 0 0 0 rg BT 319.71 744.50 Td (s\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (47) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 715.50 342.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 715.50 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.50 715.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.50 715.50 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 715.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 715.50 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 651.50 342.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 651.50 54.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.50 651.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.50 651.50 54.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 651.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 651.50 54.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 617.50 342.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 617.50 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.50 617.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.50 617.50 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 617.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 617.50 54.00 -13.00 re f /GS0 gs BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 719.73 Td (SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.00 719.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.00 719.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 706.75 Td (Cash paid for interest) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.00 706.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.25 706.75 Td (76,154) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.00 706.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.25 706.75 Td (108,344) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.00 706.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.25 706.75 Td (104,650) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 693.75 Td (Cash paid for income taxes, net of refunds) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.60 693.75 Td (\(2,234) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.30 693.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.30 693.75 Td (6,478) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 693.75 Td (6,442) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 663.73 Td (SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING AND INVESTING) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 655.73 Td (ACTIVITIES:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 642.75 Td (Conversion of credit facility to shares of Series A Convertible Preferred Stock and Class A Common) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 634.75 Td (Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.00 634.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.30 634.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.00 634.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.30 634.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.00 634.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.25 634.75 Td (165,112) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 621.75 Td (Acquisition of property, plant and equipment under capital lease) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.30 621.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.30 621.75 Td (69) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.30 621.75 Td (64) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 608.75 Td (Accretion on Series B Convertible Redeemable Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.25 608.75 Td (16,036) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.30 608.75 Td (7,890) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.30 608.75 Td () Tj ET Q BT /F1 8.00 Tf ET BT /F3 8.00 Tf ET q 0 0 0 rg BT 164.80 589.40 Td (The accompanying notes ar) Tj ET Q q 0 0 0 rg BT 253.16 589.40 Td (e an integral part of these consolidated financial statements.) Tj ET Q endstream endobj 101 0 obj <>] /Rotate 0 /Contents 102 0 R>> endobj 102 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (48) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 701.90 Td (1. ) Tj ET Q q 0 0 0 rg BT 67.50 701.90 Td (ORGANIZA) Tj ET Q q 0 0 0 rg BT 110.91 701.90 Td (TION ) Tj ET Q q 0 0 0 rg BT 132.92 701.90 Td (AND ) Tj ET Q q 0 0 0 rg BT 152.25 701.90 Td (BUSINESS) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 686.30 Td (Central ) Tj ET Q q 0 0 0 rg BT 74.80 686.30 Td (European ) Tj ET Q q 0 0 0 rg BT 107.20 686.30 Td (Media ) Tj ET Q q 0 0 0 rg BT 129.39 686.30 Td (Enterprises ) Tj ET Q q 0 0 0 rg BT 167.13 686.30 Td (Ltd., ) Tj ET Q q 0 0 0 rg BT 183.98 686.30 Td (a ) Tj ET Q q 0 0 0 rg BT 189.29 686.30 Td (Bermuda ) Tj ET Q q 0 0 0 rg BT 220.36 686.30 Td (company ) Tj ET Q q 0 0 0 rg BT 251.43 686.30 Td (limited ) Tj ET Q q 0 0 0 rg BT 275.85 686.30 Td (by ) Tj ET Q q 0 0 0 rg BT 285.60 686.30 Td (shares, ) Tj ET Q q 0 0 0 rg BT 309.34 686.30 Td (is ) Tj ET Q q 0 0 0 rg BT 316.43 686.30 Td (a ) Tj ET Q q 0 0 0 rg BT 321.73 686.30 Td (media ) Tj ET Q q 0 0 0 rg BT 343.02 686.30 Td (and ) Tj ET Q q 0 0 0 rg BT 356.32 686.30 Td (entertainment ) Tj ET Q q 0 0 0 rg BT 402.05 686.30 Td (company ) Tj ET Q q 0 0 0 rg BT 433.13 686.30 Td (operating ) Tj ET Q q 0 0 0 rg BT 465.09 686.30 Td (in ) Tj ET Q q 0 0 0 rg BT 473.06 686.30 Td (Central ) Tj ET Q q 0 0 0 rg BT 498.36 686.30 Td (and ) Tj ET Q q 0 0 0 rg BT 511.66 686.30 Td (Eastern ) Tj ET Q q 0 0 0 rg BT 537.40 686.30 Td (Europe. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 676.70 Td (Our ) Tj ET Q q 0 0 0 rg BT 64.33 676.70 Td (assets ) Tj ET Q q 0 0 0 rg BT 85.38 676.70 Td (are ) Tj ET Q q 0 0 0 rg BT 97.53 676.70 Td (held ) Tj ET Q q 0 0 0 rg BT 113.69 676.70 Td (through ) Tj ET Q q 0 0 0 rg BT 140.96 676.70 Td (a ) Tj ET Q q 0 0 0 rg BT 146.90 676.70 Td (series ) Tj ET Q q 0 0 0 rg BT 167.50 676.70 Td (of ) Tj ET Q q 0 0 0 rg BT 176.55 676.70 Td (Dutch ) Tj ET Q q 0 0 0 rg BT 198.49 676.70 Td (and ) Tj ET Q q 0 0 0 rg BT 212.43 676.70 Td (Curaao ) Tj ET Q q 0 0 0 rg BT 241.47 676.70 Td (holding ) Tj ET Q q 0 0 0 rg BT 268.30 676.70 Td (companies. ) Tj ET Q q 0 0 0 rg BT 306.73 676.70 Td (W) Tj ET Q q 0 0 0 rg BT 313.64 676.70 Td (e ) Tj ET Q q 0 0 0 rg BT 319.57 676.70 Td (manage ) Tj ET Q q 0 0 0 rg BT 346.84 676.70 Td (our ) Tj ET Q q 0 0 0 rg BT 359.89 676.70 Td (business ) Tj ET Q q 0 0 0 rg BT 389.39 676.70 Td (on ) Tj ET Q q 0 0 0 rg BT 399.77 676.70 Td (a ) Tj ET Q q 0 0 0 rg BT 405.71 676.70 Td (geographical ) Tj ET Q q 0 0 0 rg BT 449.41 676.70 Td (basis, ) Tj ET Q q 0 0 0 rg BT 469.80 676.70 Td (with ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.41 676.70 Td (six) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.74 676.70 Td ( ) Tj ET Q q 0 0 0 rg BT 498.13 676.70 Td (operating ) Tj ET Q q 0 0 0 rg BT 530.73 676.70 Td (segments, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 667.10 Td (Bulgaria, ) Tj ET Q q 0 0 0 rg BT 80.76 667.10 Td (Croatia, ) Tj ET Q q 0 0 0 rg BT 108.01 667.10 Td (the ) Tj ET Q q 0 0 0 rg BT 119.49 667.10 Td (Czech ) Tj ET Q q 0 0 0 rg BT 141.19 667.10 Td (Republic, ) Tj ET Q q 0 0 0 rg BT 173.78 667.10 Td (Romania, ) Tj ET Q q 0 0 0 rg BT 206.38 667.10 Td (the ) Tj ET Q q 0 0 0 rg BT 217.86 667.10 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 241.79 667.10 Td (Republic ) Tj ET Q q 0 0 0 rg BT 272.38 667.10 Td (and ) Tj ET Q q 0 0 0 rg BT 285.64 667.10 Td (Slovenia, ) Tj ET Q q 0 0 0 rg BT 317.35 667.10 Td (which ) Tj ET Q q 0 0 0 rg BT 338.61 667.10 Td (are ) Tj ET Q q 0 0 0 rg BT 350.08 667.10 Td (also ) Tj ET Q q 0 0 0 rg BT 364.68 667.10 Td (our ) Tj ET Q q 0 0 0 rg BT 377.05 667.10 Td (reportable ) Tj ET Q q 0 0 0 rg BT 411.18 667.10 Td (segments ) Tj ET Q q 0 0 0 rg BT 442.67 667.10 Td (and ) Tj ET Q q 0 0 0 rg BT 455.93 667.10 Td (our ) Tj ET Q q 0 0 0 rg BT 468.30 667.10 Td (main ) Tj ET Q q 0 0 0 rg BT 486.00 667.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 517.92 667.10 Td (countries. ) Tj ET Q q 0 0 0 rg BT 550.96 667.10 Td (See ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 657.50 Td (Note ) Tj ET Q q 0 0 0 rg BT 67.05 657.50 Td (20, ) Tj ET Q q 0 0 0 rg BT 79.05 657.50 Td ("Segment ) Tj ET Q q 0 0 0 rg BT 112.31 657.50 Td (Data") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.68 657.50 Td ( ) Tj ET Q q 0 0 0 rg BT 132.68 657.50 Td (for ) Tj ET Q q 0 0 0 rg BT 144.01 657.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 173.99 657.50 Td (information ) Tj ET Q q 0 0 0 rg BT 213.76 657.50 Td (by ) Tj ET Q q 0 0 0 rg BT 223.76 657.50 Td (segment.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 641.90 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 641.90 Td (e ) Tj ET Q q 0 0 0 rg BT 62.03 641.90 Td (have ) Tj ET Q q 0 0 0 rg BT 79.21 641.90 Td (market ) Tj ET Q q 0 0 0 rg BT 103.49 641.90 Td (leading ) Tj ET Q q 0 0 0 rg BT 129.11 641.90 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 161.83 641.90 Td (operations ) Tj ET Q q 0 0 0 rg BT 197.23 641.90 Td (in ) Tj ET Q q 0 0 0 rg BT 205.53 641.90 Td (these ) Tj ET Q q 0 0 0 rg BT 224.04 641.90 Td (countries ) Tj ET Q q 0 0 0 rg BT 255.43 641.90 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 298.38 641.90 Td (a ) Tj ET Q q 0 0 0 rg BT 304.00 641.90 Td (total ) Tj ET Q q 0 0 0 rg BT 320.29 641.90 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 329.03 641.90 Td (33) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.03 641.90 Td ( ) Tj ET Q q 0 0 0 rg BT 339.10 641.90 Td (television ) Tj ET Q q 0 0 0 rg BT 372.28 641.90 Td (channels. ) Tj ET Q q 0 0 0 rg BT 404.34 641.90 Td (Each ) Tj ET Q q 0 0 0 rg BT 422.40 641.90 Td (country ) Tj ET Q q 0 0 0 rg BT 448.91 641.90 Td (also ) Tj ET Q q 0 0 0 rg BT 463.87 641.90 Td (develops ) Tj ET Q q 0 0 0 rg BT 494.38 641.90 Td (and ) Tj ET Q q 0 0 0 rg BT 508.00 641.90 Td (produces ) Tj ET Q q 0 0 0 rg BT 538.95 641.90 Td (content ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 632.30 Td (for ) Tj ET Q q 0 0 0 rg BT 61.07 632.30 Td (their ) Tj ET Q q 0 0 0 rg BT 77.97 632.30 Td (television ) Tj ET Q q 0 0 0 rg BT 111.32 632.30 Td (channels ) Tj ET Q q 0 0 0 rg BT 141.55 632.30 Td (and ) Tj ET Q q 0 0 0 rg BT 155.34 632.30 Td (we ) Tj ET Q q 0 0 0 rg BT 166.91 632.30 Td (license ) Tj ET Q q 0 0 0 rg BT 191.36 632.30 Td (content ) Tj ET Q q 0 0 0 rg BT 217.15 632.30 Td (to ) Tj ET Q q 0 0 0 rg BT 225.61 632.30 Td (third ) Tj ET Q q 0 0 0 rg BT 242.96 632.30 Td (parties. ) Tj ET Q q 0 0 0 rg BT 268.37 632.30 Td (W) Tj ET Q q 0 0 0 rg BT 275.28 632.30 Td (e ) Tj ET Q q 0 0 0 rg BT 281.07 632.30 Td (generate ) Tj ET Q q 0 0 0 rg BT 310.40 632.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 348.19 632.30 Td (revenues ) Tj ET Q q 0 0 0 rg BT 378.86 632.30 Td (in ) Tj ET Q q 0 0 0 rg BT 387.32 632.30 Td (our ) Tj ET Q q 0 0 0 rg BT 400.23 632.30 Td (country ) Tj ET Q q 0 0 0 rg BT 426.91 632.30 Td (operations ) Tj ET Q q 0 0 0 rg BT 462.47 632.30 Td (primarily ) Tj ET Q q 0 0 0 rg BT 494.48 632.30 Td (through ) Tj ET Q q 0 0 0 rg BT 521.61 632.30 Td (entering ) Tj ET Q q 0 0 0 rg BT 550.06 632.30 Td (into ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 622.70 Td (agreements ) Tj ET Q q 0 0 0 rg BT 88.07 622.70 Td (with ) Tj ET Q q 0 0 0 rg BT 104.44 622.70 Td (advertisers, ) Tj ET Q q 0 0 0 rg BT 143.23 622.70 Td (advertising ) Tj ET Q q 0 0 0 rg BT 180.92 622.70 Td (agencies ) Tj ET Q q 0 0 0 rg BT 210.60 622.70 Td (and ) Tj ET Q q 0 0 0 rg BT 224.30 622.70 Td (sponsors ) Tj ET Q q 0 0 0 rg BT 254.45 622.70 Td (to ) Tj ET Q q 0 0 0 rg BT 262.81 622.70 Td (place ) Tj ET Q q 0 0 0 rg BT 281.83 622.70 Td (advertising ) Tj ET Q q 0 0 0 rg BT 319.52 622.70 Td (on ) Tj ET Q q 0 0 0 rg BT 329.67 622.70 Td (the ) Tj ET Q q 0 0 0 rg BT 341.58 622.70 Td (television ) Tj ET Q q 0 0 0 rg BT 374.83 622.70 Td (channels ) Tj ET Q q 0 0 0 rg BT 404.96 622.70 Td (that ) Tj ET Q q 0 0 0 rg BT 419.10 622.70 Td (we ) Tj ET Q q 0 0 0 rg BT 430.57 622.70 Td (operate. ) Tj ET Q q 0 0 0 rg BT 458.10 622.70 Td (W) Tj ET Q q 0 0 0 rg BT 465.01 622.70 Td (e ) Tj ET Q q 0 0 0 rg BT 470.71 622.70 Td (generate ) Tj ET Q q 0 0 0 rg BT 499.94 622.70 Td (additional ) Tj ET Q q 0 0 0 rg BT 534.08 622.70 Td (revenues ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 613.10 Td (by ) Tj ET Q q 0 0 0 rg BT 59.34 613.10 Td (collecting ) Tj ET Q q 0 0 0 rg BT 92.72 613.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 107.44 613.10 Td (from ) Tj ET Q q 0 0 0 rg BT 124.84 613.10 Td (cable, ) Tj ET Q q 0 0 0 rg BT 145.55 613.10 Td (satellite ) Tj ET Q q 0 0 0 rg BT 172.27 613.10 Td (and ) Tj ET Q q 0 0 0 rg BT 185.66 613.10 Td (internet ) Tj ET Q q 0 0 0 rg BT 211.94 613.10 Td (protocol ) Tj ET Q q 0 0 0 rg BT 240.44 613.10 Td (television ) Tj ET Q q 0 0 0 rg BT 273.38 613.10 Td (\("IPTV"\) ) Tj ET Q q 0 0 0 rg BT 304.86 613.10 Td (operators ) Tj ET Q q 0 0 0 rg BT 336.47 613.10 Td (for ) Tj ET Q q 0 0 0 rg BT 347.64 613.10 Td (carriage ) Tj ET Q q 0 0 0 rg BT 375.23 613.10 Td (of ) Tj ET Q q 0 0 0 rg BT 383.74 613.10 Td (our ) Tj ET Q q 0 0 0 rg BT 396.24 613.10 Td (channels. ) Tj ET Q q 0 0 0 rg BT 428.07 613.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 442.35 613.10 Td (main ) Tj ET Q q 0 0 0 rg BT 460.19 613.10 Td (general ) Tj ET Q q 0 0 0 rg BT 485.57 613.10 Td (entertainment ) Tj ET Q q 0 0 0 rg BT 531.39 613.10 Td (television ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 603.50 Td (channels ) Tj ET Q q 0 0 0 rg BT 79.34 603.50 Td (in ) Tj ET Q q 0 0 0 rg BT 87.42 603.50 Td (each ) Tj ET Q q 0 0 0 rg BT 103.93 603.50 Td (country ) Tj ET Q q 0 0 0 rg BT 130.22 603.50 Td (are ) Tj ET Q q 0 0 0 rg BT 141.84 603.50 Td (distributed ) Tj ET Q q 0 0 0 rg BT 177.91 603.50 Td (on ) Tj ET Q q 0 0 0 rg BT 187.77 603.50 Td (a ) Tj ET Q q 0 0 0 rg BT 193.17 603.50 Td (free-to-air ) Tj ET Q q 0 0 0 rg BT 227.44 603.50 Td (basis ) Tj ET Q q 0 0 0 rg BT 245.30 603.50 Td (terrestrially ) Tj ET Q q 0 0 0 rg BT 284.02 603.50 Td (in ) Tj ET Q q 0 0 0 rg BT 292.10 603.50 Td (analog, ) Tj ET Q q 0 0 0 rg BT 317.28 603.50 Td (digital ) Tj ET Q q 0 0 0 rg BT 339.58 603.50 Td (or ) Tj ET Q q 0 0 0 rg BT 348.09 603.50 Td (both, ) Tj ET Q q 0 0 0 rg BT 366.17 603.50 Td (depending ) Tj ET Q q 0 0 0 rg BT 401.35 603.50 Td (on ) Tj ET Q q 0 0 0 rg BT 411.21 603.50 Td (the ) Tj ET Q q 0 0 0 rg BT 422.83 603.50 Td (digitalization ) Tj ET Q q 0 0 0 rg BT 466.90 603.50 Td (status ) Tj ET Q q 0 0 0 rg BT 486.98 603.50 Td (in ) Tj ET Q q 0 0 0 rg BT 495.05 603.50 Td (each ) Tj ET Q q 0 0 0 rg BT 511.56 603.50 Td (country) Tj ET Q q 0 0 0 rg BT 535.48 603.50 Td (, ) Tj ET Q q 0 0 0 rg BT 539.33 603.50 Td (and ) Tj ET Q q 0 0 0 rg BT 552.74 603.50 Td (are ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 593.90 Td (also ) Tj ET Q q 0 0 0 rg BT 65.11 593.90 Td (distributed ) Tj ET Q q 0 0 0 rg BT 102.04 593.90 Td (via ) Tj ET Q q 0 0 0 rg BT 114.54 593.90 Td (cable ) Tj ET Q q 0 0 0 rg BT 134.13 593.90 Td (and ) Tj ET Q q 0 0 0 rg BT 148.40 593.90 Td (satellite. ) Tj ET Q q 0 0 0 rg BT 178.00 593.90 Td (Our ) Tj ET Q q 0 0 0 rg BT 193.16 593.90 Td (other ) Tj ET Q q 0 0 0 rg BT 212.32 593.90 Td (channels ) Tj ET Q q 0 0 0 rg BT 243.03 593.90 Td (are ) Tj ET Q q 0 0 0 rg BT 255.51 593.90 Td (generally ) Tj ET Q q 0 0 0 rg BT 288.00 593.90 Td (distributed ) Tj ET Q q 0 0 0 rg BT 324.93 593.90 Td (via ) Tj ET Q q 0 0 0 rg BT 337.43 593.90 Td (cable ) Tj ET Q q 0 0 0 rg BT 357.02 593.90 Td (and ) Tj ET Q q 0 0 0 rg BT 371.29 593.90 Td (satellite.Unless ) Tj ET Q q 0 0 0 rg BT 424.67 593.90 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 458.49 593.90 Td (indicated, ) Tj ET Q q 0 0 0 rg BT 492.53 593.90 Td (we ) Tj ET Q q 0 0 0 rg BT 504.58 593.90 Td (own ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 521.07 593.90 Td (100%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.74 593.90 Td ( ) Tj ET Q q 0 0 0 rg BT 542.46 593.90 Td (of ) Tj ET Q q 0 0 0 rg BT 551.84 593.90 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 584.30 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 82.15 584.30 Td (operating ) Tj ET Q q 0 0 0 rg BT 114.36 584.30 Td (and ) Tj ET Q q 0 0 0 rg BT 127.91 584.30 Td (license ) Tj ET Q q 0 0 0 rg BT 152.13 584.30 Td (companies ) Tj ET Q q 0 0 0 rg BT 188.34 584.30 Td (in ) Tj ET Q q 0 0 0 rg BT 196.56 584.30 Td (each ) Tj ET Q q 0 0 0 rg BT 213.21 584.30 Td (country) Tj ET Q q 0 0 0 rg BT 237.13 584.30 Td (.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 565.70 Td (Bulgaria) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 550.10 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 550.10 Td (e ) Tj ET Q q 0 0 0 rg BT 62.04 550.10 Td (operate ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.65 550.10 Td (one) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.20 550.10 Td ( ) Tj ET Q q 0 0 0 rg BT 101.28 550.10 Td (general ) Tj ET Q q 0 0 0 rg BT 126.89 550.10 Td (entertainment ) Tj ET Q q 0 0 0 rg BT 172.95 550.10 Td (channel, ) Tj ET Q q 0 0 0 rg BT 201.90 550.10 Td (BTV) Tj ET Q q 0 0 0 rg BT 216.87 550.10 Td (, ) Tj ET Q q 0 0 0 rg BT 220.94 550.10 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 234.57 550.10 Td (five) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 247.00 550.10 Td ( ) Tj ET Q q 0 0 0 rg BT 249.08 550.10 Td (other ) Tj ET Q q 0 0 0 rg BT 267.59 550.10 Td (channels, ) Tj ET Q q 0 0 0 rg BT 299.66 550.10 Td (BTV) Tj ET Q q 0 0 0 rg BT 315.51 550.10 Td ( ) Tj ET Q q 0 0 0 rg BT 317.59 550.10 Td (CINEMA, ) Tj ET Q q 0 0 0 rg BT 353.22 550.10 Td (BTV) Tj ET Q q 0 0 0 rg BT 369.07 550.10 Td ( ) Tj ET Q q 0 0 0 rg BT 371.15 550.10 Td (COMEDY) Tj ET Q q 0 0 0 rg BT 404.78 550.10 Td (, ) Tj ET Q q 0 0 0 rg BT 408.86 550.10 Td (RING.BG, ) Tj ET Q q 0 0 0 rg BT 445.60 550.10 Td (BTV) Tj ET Q q 0 0 0 rg BT 461.46 550.10 Td ( ) Tj ET Q q 0 0 0 rg BT 463.07 550.10 Td (ACTION ) Tj ET Q q 0 0 0 rg BT 495.37 550.10 Td (and ) Tj ET Q q 0 0 0 rg BT 508.99 550.10 Td (BTV) Tj ET Q q 0 0 0 rg BT 524.85 550.10 Td ( ) Tj ET Q q 0 0 0 rg BT 526.92 550.10 Td (LADY) Tj ET Q q 0 0 0 rg BT 548.11 550.10 Td (. ) Tj ET Q q 0 0 0 rg BT 552.04 550.10 Td (W) Tj ET Q q 0 0 0 rg BT 558.95 550.10 Td (e ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 540.50 Td (also ) Tj ET Q q 0 0 0 rg BT 64.39 540.50 Td (operate ) Tj ET Q q 0 0 0 rg BT 89.93 540.50 Td (several ) Tj ET Q q 0 0 0 rg BT 114.58 540.50 Td (radio ) Tj ET Q q 0 0 0 rg BT 133.02 540.50 Td (channels.) Tj ET Q q 0 0 0 rg BT 164.86 540.50 Td (W) Tj ET Q q 0 0 0 rg BT 171.77 540.50 Td (e ) Tj ET Q q 0 0 0 rg BT 177.32 540.50 Td (own ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 193.10 540.50 Td (94%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 207.76 540.50 Td ( ) Tj ET Q q 0 0 0 rg BT 209.76 540.50 Td (of ) Tj ET Q q 0 0 0 rg BT 218.43 540.50 Td (CME ) Tj ET Q q 0 0 0 rg BT 237.76 540.50 Td (Bulgaria ) Tj ET Q q 0 0 0 rg BT 267.31 540.50 Td (B.V) Tj ET Q q 0 0 0 rg BT 279.39 540.50 Td (. ) Tj ET Q q 0 0 0 rg BT 283.39 540.50 Td (\("CME ) Tj ET Q q 0 0 0 rg BT 308.66 540.50 Td (Bulgaria"\), ) Tj ET Q q 0 0 0 rg BT 346.13 540.50 Td (the ) Tj ET Q q 0 0 0 rg BT 357.91 540.50 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 392.79 540.50 Td (that ) Tj ET Q q 0 0 0 rg BT 406.79 540.50 Td (owns ) Tj ET Q q 0 0 0 rg BT 425.68 540.50 Td (our ) Tj ET Q q 0 0 0 rg BT 438.34 540.50 Td (Bulgaria ) Tj ET Q q 0 0 0 rg BT 467.89 540.50 Td (operations.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 521.90 Td (Cr) Tj ET Q q 0 0 0 rg BT 57.65 521.90 Td (oatia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 506.30 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 506.30 Td (e ) Tj ET Q q 0 0 0 rg BT 61.96 506.30 Td (operate ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.50 506.30 Td (one) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.05 506.30 Td ( ) Tj ET Q q 0 0 0 rg BT 101.05 506.30 Td (general ) Tj ET Q q 0 0 0 rg BT 126.59 506.30 Td (entertainment ) Tj ET Q q 0 0 0 rg BT 172.57 506.30 Td (channel, ) Tj ET Q q 0 0 0 rg BT 201.45 506.30 Td (NOV) Tj ET Q q 0 0 0 rg BT 217.75 506.30 Td (A) Tj ET Q q 0 0 0 rg BT 223.08 506.30 Td ( ) Tj ET Q q 0 0 0 rg BT 224.94 506.30 Td (TV) Tj ET Q q 0 0 0 rg BT 235.46 506.30 Td ( ) Tj ET Q q 0 0 0 rg BT 237.46 506.30 Td (\(Croatia\) ) Tj ET Q q 0 0 0 rg BT 268.33 506.30 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 281.88 506.30 Td (three) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 297.87 506.30 Td ( ) Tj ET Q q 0 0 0 rg BT 299.87 506.30 Td (other ) Tj ET Q q 0 0 0 rg BT 318.31 506.30 Td (channels, ) Tj ET Q q 0 0 0 rg BT 350.30 506.30 Td (DOMA) Tj ET Q q 0 0 0 rg BT 374.30 506.30 Td ( ) Tj ET Q q 0 0 0 rg BT 376.30 506.30 Td (\(Croatia\), ) Tj ET Q q 0 0 0 rg BT 409.18 506.30 Td (NOV) Tj ET Q q 0 0 0 rg BT 425.48 506.30 Td (A) Tj ET Q q 0 0 0 rg BT 430.81 506.30 Td ( ) Tj ET Q q 0 0 0 rg BT 432.67 506.30 Td (WORLD ) Tj ET Q q 0 0 0 rg BT 464.00 506.30 Td (and ) Tj ET Q q 0 0 0 rg BT 477.55 506.30 Td (MINI ) Tj ET Q q 0 0 0 rg BT 497.62 506.30 Td (TV) Tj ET Q q 0 0 0 rg BT 507.25 506.30 Td (.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 487.70 Td (Czech ) Tj ET Q q 0 0 0 rg BT 71.05 487.70 Td (Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 472.10 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 472.10 Td (e ) Tj ET Q q 0 0 0 rg BT 61.69 472.10 Td (operate ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.95 472.10 Td (one) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 98.50 472.10 Td ( ) Tj ET Q q 0 0 0 rg BT 100.22 472.10 Td (general ) Tj ET Q q 0 0 0 rg BT 125.49 472.10 Td (entertainment ) Tj ET Q q 0 0 0 rg BT 171.19 472.10 Td (channel, ) Tj ET Q q 0 0 0 rg BT 199.67 472.10 Td (TV) Tj ET Q q 0 0 0 rg BT 210.19 472.10 Td ( ) Tj ET Q q 0 0 0 rg BT 211.91 472.10 Td (NOV) Tj ET Q q 0 0 0 rg BT 228.21 472.10 Td (A) Tj ET Q q 0 0 0 rg BT 233.55 472.10 Td ( ) Tj ET Q q 0 0 0 rg BT 235.27 472.10 Td (\(Czech ) Tj ET Q q 0 0 0 rg BT 259.65 472.10 Td (Republic\), ) Tj ET Q q 0 0 0 rg BT 294.92 472.10 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 308.20 472.10 Td (five) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 320.64 472.10 Td ( ) Tj ET Q q 0 0 0 rg BT 322.36 472.10 Td (other ) Tj ET Q q 0 0 0 rg BT 340.52 472.10 Td (channels, ) Tj ET Q q 0 0 0 rg BT 372.23 472.10 Td (NOV) Tj ET Q q 0 0 0 rg BT 388.54 472.10 Td (A) Tj ET Q q 0 0 0 rg BT 393.87 472.10 Td ( ) Tj ET Q q 0 0 0 rg BT 395.60 472.10 Td (CINEMA, ) Tj ET Q q 0 0 0 rg BT 430.88 472.10 Td (NOV) Tj ET Q q 0 0 0 rg BT 447.18 472.10 Td (A) Tj ET Q q 0 0 0 rg BT 452.51 472.10 Td ( ) Tj ET Q q 0 0 0 rg BT 454.24 472.10 Td (SPOR) Tj ET Q q 0 0 0 rg BT 473.77 472.10 Td (T) Tj ET Q q 0 0 0 rg BT 478.06 472.10 Td (, ) Tj ET Q q 0 0 0 rg BT 481.79 472.10 Td (F) Tj ET Q q 0 0 0 rg BT 485.64 472.10 Td (ANDA, ) Tj ET Q q 0 0 0 rg BT 512.48 472.10 Td (SMICHOV) Tj ET Q q 0 0 0 rg BT 549.23 472.10 Td ( ) Tj ET Q q 0 0 0 rg BT 550.95 472.10 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 462.50 Td (TELKA.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 443.90 Td (Romania) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 428.30 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 428.30 Td (e ) Tj ET Q q 0 0 0 rg BT 61.52 428.30 Td (operate ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.62 428.30 Td (one) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 98.17 428.30 Td ( ) Tj ET Q q 0 0 0 rg BT 99.73 428.30 Td (general ) Tj ET Q q 0 0 0 rg BT 124.83 428.30 Td (entertainment ) Tj ET Q q 0 0 0 rg BT 170.37 428.30 Td (channel, ) Tj ET Q q 0 0 0 rg BT 198.81 428.30 Td (PRO ) Tj ET Q q 0 0 0 rg BT 215.82 428.30 Td (TV) Tj ET Q q 0 0 0 rg BT 225.45 428.30 Td (, ) Tj ET Q q 0 0 0 rg BT 229.01 428.30 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 242.12 428.30 Td (eight) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 258.12 428.30 Td ( ) Tj ET Q q 0 0 0 rg BT 259.68 428.30 Td (other ) Tj ET Q q 0 0 0 rg BT 277.68 428.30 Td (channels, ) Tj ET Q q 0 0 0 rg BT 308.88 428.30 Td (ACASA, ) Tj ET Q q 0 0 0 rg BT 339.22 428.30 Td (ACASA) Tj ET Q q 0 0 0 rg BT 365.89 428.30 Td ( ) Tj ET Q q 0 0 0 rg BT 367.45 428.30 Td (GOLD, ) Tj ET Q q 0 0 0 rg BT 393.23 428.30 Td (PRO ) Tj ET Q q 0 0 0 rg BT 410.35 428.30 Td (CINEMA, ) Tj ET Q q 0 0 0 rg BT 445.47 428.30 Td (SPOR) Tj ET Q q 0 0 0 rg BT 465.00 428.30 Td (T) Tj ET Q q 0 0 0 rg BT 469.29 428.30 Td (.RO, ) Tj ET Q q 0 0 0 rg BT 485.97 428.30 Td (MTV) Tj ET Q q 0 0 0 rg BT 503.60 428.30 Td ( ) Tj ET Q q 0 0 0 rg BT 505.16 428.30 Td (ROMANIA, ) Tj ET Q q 0 0 0 rg BT 546.94 428.30 Td (PRO ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 418.70 Td (TV) Tj ET Q q 0 0 0 rg BT 60.02 418.70 Td ( ) Tj ET Q q 0 0 0 rg BT 62.02 418.70 Td (INTERNA) Tj ET Q q 0 0 0 rg BT 96.24 418.70 Td (TIONAL, ) Tj ET Q q 0 0 0 rg BT 130.01 418.70 Td (PRO ) Tj ET Q q 0 0 0 rg BT 147.43 418.70 Td (TV) Tj ET Q q 0 0 0 rg BT 157.95 418.70 Td ( ) Tj ET Q q 0 0 0 rg BT 159.95 418.70 Td (CHISINAU, ) Tj ET Q q 0 0 0 rg BT 202.17 418.70 Td (a ) Tj ET Q q 0 0 0 rg BT 207.72 418.70 Td (general ) Tj ET Q q 0 0 0 rg BT 233.26 418.70 Td (entertainment ) Tj ET Q q 0 0 0 rg BT 279.24 418.70 Td (channel ) Tj ET Q q 0 0 0 rg BT 306.11 418.70 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 348.99 418.70 Td (in ) Tj ET Q q 0 0 0 rg BT 357.21 418.70 Td (Moldova, ) Tj ET Q q 0 0 0 rg BT 390.10 418.70 Td (and ) Tj ET Q q 0 0 0 rg BT 403.21 418.70 Td (ACASA) Tj ET Q q 0 0 0 rg BT 429.88 418.70 Td ( ) Tj ET Q q 0 0 0 rg BT 431.88 418.70 Td (IN ) Tj ET Q q 0 0 0 rg BT 442.32 418.70 Td (MOLDOV) Tj ET Q q 0 0 0 rg BT 476.40 418.70 Td (A.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 400.10 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 72.82 400.10 Td (Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 384.50 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 384.50 Td (e ) Tj ET Q q 0 0 0 rg BT 61.96 384.50 Td (operate ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.50 384.50 Td (one) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.05 384.50 Td ( ) Tj ET Q q 0 0 0 rg BT 101.05 384.50 Td (general ) Tj ET Q q 0 0 0 rg BT 126.59 384.50 Td (entertainment ) Tj ET Q q 0 0 0 rg BT 172.57 384.50 Td (channel, ) Tj ET Q q 0 0 0 rg BT 201.30 384.50 Td (TV) Tj ET Q q 0 0 0 rg BT 211.82 384.50 Td ( ) Tj ET Q q 0 0 0 rg BT 213.82 384.50 Td (MARKIZA, ) Tj ET Q q 0 0 0 rg BT 255.15 384.50 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 268.70 384.50 Td (two) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.70 384.50 Td ( ) Tj ET Q q 0 0 0 rg BT 282.70 384.50 Td (other ) Tj ET Q q 0 0 0 rg BT 301.14 384.50 Td (channels, ) Tj ET Q q 0 0 0 rg BT 333.13 384.50 Td (DOMA) Tj ET Q q 0 0 0 rg BT 357.13 384.50 Td ( ) Tj ET Q q 0 0 0 rg BT 359.13 384.50 Td (\(Slovak ) Tj ET Q q 0 0 0 rg BT 386.02 384.50 Td (Republic\), ) Tj ET Q q 0 0 0 rg BT 421.57 384.50 Td (and ) Tj ET Q q 0 0 0 rg BT 435.12 384.50 Td (DAJT) Tj ET Q q 0 0 0 rg BT 454.53 384.50 Td (O.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 365.90 Td (Slovenia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 350.30 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 350.30 Td (e ) Tj ET Q q 0 0 0 rg BT 61.96 350.30 Td (operate ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.50 350.30 Td (two) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.50 350.30 Td ( ) Tj ET Q q 0 0 0 rg BT 101.50 350.30 Td (general ) Tj ET Q q 0 0 0 rg BT 127.04 350.30 Td (entertainment ) Tj ET Q q 0 0 0 rg BT 173.02 350.30 Td (channels, ) Tj ET Q q 0 0 0 rg BT 205.01 350.30 Td (POP) Tj ET Q q 0 0 0 rg BT 219.39 350.30 Td ( ) Tj ET Q q 0 0 0 rg BT 221.24 350.30 Td (TV) Tj ET Q q 0 0 0 rg BT 231.76 350.30 Td ( ) Tj ET Q q 0 0 0 rg BT 233.76 350.30 Td (and ) Tj ET Q q 0 0 0 rg BT 247.31 350.30 Td (KANAL) Tj ET Q q 0 0 0 rg BT 275.01 350.30 Td ( ) Tj ET Q q 0 0 0 rg BT 276.57 350.30 Td (A, ) Tj ET Q q 0 0 0 rg BT 286.35 350.30 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.90 350.30 Td (three) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 315.89 350.30 Td ( ) Tj ET Q q 0 0 0 rg BT 317.89 350.30 Td (other ) Tj ET Q q 0 0 0 rg BT 336.32 350.30 Td (channels, ) Tj ET Q q 0 0 0 rg BT 368.31 350.30 Td (KINO, ) Tj ET Q q 0 0 0 rg BT 392.31 350.30 Td (BRIO ) Tj ET Q q 0 0 0 rg BT 413.42 350.30 Td (and ) Tj ET Q q 0 0 0 rg BT 426.97 350.30 Td (OT) Tj ET Q q 0 0 0 rg BT 437.49 350.30 Td (O.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 328.70 Td (2. ) Tj ET Q q 0 0 0 rg BT 67.50 328.70 Td (BASIS ) Tj ET Q q 0 0 0 rg BT 92.63 328.70 Td (OF) Tj ET Q q 0 0 0 rg BT 103.44 328.70 Td ( ) Tj ET Q q 0 0 0 rg BT 105.44 328.70 Td (PRESENT) Tj ET Q q 0 0 0 rg BT 141.74 328.70 Td (A) Tj ET Q q 0 0 0 rg BT 146.93 328.70 Td (TION ) Tj ET Q q 0 0 0 rg BT 168.93 328.70 Td (AND ) Tj ET Q q 0 0 0 rg BT 188.27 328.70 Td (SUMMAR) Tj ET Q q 0 0 0 rg BT 224.87 328.70 Td (Y) Tj ET Q q 0 0 0 rg BT 230.35 328.70 Td ( ) Tj ET Q q 0 0 0 rg BT 232.35 328.70 Td (OF) Tj ET Q q 0 0 0 rg BT 243.16 328.70 Td ( ) Tj ET Q q 0 0 0 rg BT 245.16 328.70 Td (SIGNIFICANT) Tj ET Q q 0 0 0 rg BT 298.36 328.70 Td ( ) Tj ET Q q 0 0 0 rg BT 299.92 328.70 Td (ACCOUNTING ) Tj ET Q q 0 0 0 rg BT 357.48 328.70 Td (POLICIES) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 313.10 Td (Unless ) Tj ET Q q 0 0 0 rg BT 73.21 313.10 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 106.23 313.10 Td (noted, ) Tj ET Q q 0 0 0 rg BT 127.94 313.10 Td (all ) Tj ET Q q 0 0 0 rg BT 137.86 313.10 Td (statistical ) Tj ET Q q 0 0 0 rg BT 170.00 313.10 Td (and ) Tj ET Q q 0 0 0 rg BT 183.48 313.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 213.39 313.10 Td (information ) Tj ET Q q 0 0 0 rg BT 253.09 313.10 Td (presented ) Tj ET Q q 0 0 0 rg BT 285.67 313.10 Td (in ) Tj ET Q q 0 0 0 rg BT 293.82 313.10 Td (this ) Tj ET Q q 0 0 0 rg BT 307.31 313.10 Td (report ) Tj ET Q q 0 0 0 rg BT 328.34 313.10 Td (has ) Tj ET Q q 0 0 0 rg BT 340.93 313.10 Td (been ) Tj ET Q q 0 0 0 rg BT 357.96 313.10 Td (converted ) Tj ET Q q 0 0 0 rg BT 391.42 313.10 Td (into ) Tj ET Q q 0 0 0 rg BT 405.80 313.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 421.95 313.10 Td (dollars ) Tj ET Q q 0 0 0 rg BT 445.65 313.10 Td (using ) Tj ET Q q 0 0 0 rg BT 464.92 313.10 Td (period-end ) Tj ET Q q 0 0 0 rg BT 501.50 313.10 Td (exchange ) Tj ET Q q 0 0 0 rg BT 533.63 313.10 Td (rates.) Tj ET Q q 0 0 0 rg BT 552.29 313.10 Td (All ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 303.50 Td (references ) Tj ET Q q 0 0 0 rg BT 84.82 303.50 Td (to ) Tj ET Q q 0 0 0 rg BT 93.50 303.50 Td (US$, ) Tj ET Q q 0 0 0 rg BT 119.28 303.50 Td (USD ) Tj ET Q q 0 0 0 rg BT 144.84 303.50 Td (or ) Tj ET Q q 0 0 0 rg BT 153.96 303.50 Td (dollars ) Tj ET Q q 0 0 0 rg BT 185.30 303.50 Td (are ) Tj ET Q q 0 0 0 rg BT 197.52 303.50 Td (to ) Tj ET Q q 0 0 0 rg BT 206.20 303.50 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 222.88 303.50 Td (dollars, ) Tj ET Q q 0 0 0 rg BT 249.11 303.50 Td (all ) Tj ET Q q 0 0 0 rg BT 259.57 303.50 Td (references ) Tj ET Q q 0 0 0 rg BT 294.88 303.50 Td (to ) Tj ET Q q 0 0 0 rg BT 303.56 303.50 Td (BGN ) Tj ET Q q 0 0 0 rg BT 330.01 303.50 Td (are ) Tj ET Q q 0 0 0 rg BT 342.23 303.50 Td (to ) Tj ET Q q 0 0 0 rg BT 350.91 303.50 Td (Bulgarian ) Tj ET Q q 0 0 0 rg BT 384.92 303.50 Td (leva, ) Tj ET Q q 0 0 0 rg BT 402.70 303.50 Td (all ) Tj ET Q q 0 0 0 rg BT 413.15 303.50 Td (references ) Tj ET Q q 0 0 0 rg BT 448.47 303.50 Td (to ) Tj ET Q q 0 0 0 rg BT 457.15 303.50 Td (HRK ) Tj ET Q q 0 0 0 rg BT 483.60 303.50 Td (are ) Tj ET Q q 0 0 0 rg BT 495.82 303.50 Td (to ) Tj ET Q q 0 0 0 rg BT 504.50 303.50 Td (Croatian ) Tj ET Q q 0 0 0 rg BT 534.50 303.50 Td (kuna, ) Tj ET Q q 0 0 0 rg BT 554.51 303.50 Td (all ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 293.90 Td (references ) Tj ET Q q 0 0 0 rg BT 84.05 293.90 Td (to ) Tj ET Q q 0 0 0 rg BT 91.96 293.90 Td (CZK ) Tj ET Q q 0 0 0 rg BT 116.75 293.90 Td (are ) Tj ET Q q 0 0 0 rg BT 128.20 293.90 Td (to ) Tj ET Q q 0 0 0 rg BT 136.11 293.90 Td (Czech ) Tj ET Q q 0 0 0 rg BT 157.79 293.90 Td (korunas, ) Tj ET Q q 0 0 0 rg BT 186.80 293.90 Td (all ) Tj ET Q q 0 0 0 rg BT 196.48 293.90 Td (references ) Tj ET Q q 0 0 0 rg BT 231.03 293.90 Td (to ) Tj ET Q q 0 0 0 rg BT 238.94 293.90 Td (RON ) Tj ET Q q 0 0 0 rg BT 264.62 293.90 Td (are ) Tj ET Q q 0 0 0 rg BT 276.07 293.90 Td (to ) Tj ET Q q 0 0 0 rg BT 283.98 293.90 Td (the ) Tj ET Q q 0 0 0 rg BT 295.45 293.90 Td (New ) Tj ET Q q 0 0 0 rg BT 312.24 293.90 Td (Romanian ) Tj ET Q q 0 0 0 rg BT 346.81 293.90 Td (lei ) Tj ET Q q 0 0 0 rg BT 356.49 293.90 Td (and ) Tj ET Q q 0 0 0 rg BT 369.73 293.90 Td (all ) Tj ET Q q 0 0 0 rg BT 379.41 293.90 Td (references ) Tj ET Q q 0 0 0 rg BT 413.96 293.90 Td (to ) Tj ET Q q 0 0 0 rg BT 421.87 293.90 Td (Euro ) Tj ET Q q 0 0 0 rg BT 446.21 293.90 Td (or ) Tj ET Q q 0 0 0 rg BT 454.56 293.90 Td (EUR ) Tj ET Q q 0 0 0 rg BT 479.35 293.90 Td (are ) Tj ET Q q 0 0 0 rg BT 490.80 293.90 Td (to ) Tj ET Q q 0 0 0 rg BT 498.71 293.90 Td (the ) Tj ET Q q 0 0 0 rg BT 510.18 293.90 Td (European ) Tj ET Q q 0 0 0 rg BT 542.52 293.90 Td (Union ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 284.30 Td (Euro.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 265.70 Td (Basis ) Tj ET Q q 0 0 0 rg BT 68.84 265.70 Td (of ) Tj ET Q q 0 0 0 rg BT 77.06 265.70 Td (Consolidation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 250.10 Td (The ) Tj ET Q q 0 0 0 rg BT 62.95 250.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 104.40 250.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 133.40 250.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 168.18 250.10 Td (include ) Tj ET Q q 0 0 0 rg BT 192.74 250.10 Td (the ) Tj ET Q q 0 0 0 rg BT 203.53 250.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 232.53 250.10 Td (of ) Tj ET Q q 0 0 0 rg BT 240.21 250.10 Td (CME ) Tj ET Q q 0 0 0 rg BT 258.56 250.10 Td (Ltd. ) Tj ET Q q 0 0 0 rg BT 272.68 250.10 Td (and ) Tj ET Q q 0 0 0 rg BT 285.24 250.10 Td (our ) Tj ET Q q 0 0 0 rg BT 296.92 250.10 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 337.71 250.10 Td (after ) Tj ET Q q 0 0 0 rg BT 353.38 250.10 Td (the ) Tj ET Q q 0 0 0 rg BT 364.16 250.10 Td (elimination ) Tj ET Q q 0 0 0 rg BT 401.61 250.10 Td (of ) Tj ET Q q 0 0 0 rg BT 409.29 250.10 Td (intercompany ) Tj ET Q q 0 0 0 rg BT 454.29 250.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 483.29 250.10 Td (and ) Tj ET Q q 0 0 0 rg BT 495.86 250.10 Td (transactions.Entities ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 240.50 Td (in ) Tj ET Q q 0 0 0 rg BT 58.42 240.50 Td (which ) Tj ET Q q 0 0 0 rg BT 80.66 240.50 Td (we ) Tj ET Q q 0 0 0 rg BT 92.68 240.50 Td (hold ) Tj ET Q q 0 0 0 rg BT 109.60 240.50 Td (less ) Tj ET Q q 0 0 0 rg BT 124.30 240.50 Td (than ) Tj ET Q q 0 0 0 rg BT 140.76 240.50 Td (a ) Tj ET Q q 0 0 0 rg BT 147.01 240.50 Td (majority ) Tj ET Q q 0 0 0 rg BT 176.81 240.50 Td (voting ) Tj ET Q q 0 0 0 rg BT 199.95 240.50 Td (interest ) Tj ET Q q 0 0 0 rg BT 226.19 240.50 Td (but ) Tj ET Q q 0 0 0 rg BT 239.11 240.50 Td (over ) Tj ET Q q 0 0 0 rg BT 256.02 240.50 Td (which ) Tj ET Q q 0 0 0 rg BT 278.26 240.50 Td (we ) Tj ET Q q 0 0 0 rg BT 290.28 240.50 Td (have ) Tj ET Q q 0 0 0 rg BT 308.08 240.50 Td (the ) Tj ET Q q 0 0 0 rg BT 320.55 240.50 Td (ability ) Tj ET Q q 0 0 0 rg BT 343.68 240.50 Td (to ) Tj ET Q q 0 0 0 rg BT 352.60 240.50 Td (exercise ) Tj ET Q q 0 0 0 rg BT 381.50 240.50 Td (significant ) Tj ET Q q 0 0 0 rg BT 417.96 240.50 Td (influence ) Tj ET Q q 0 0 0 rg BT 450.42 240.50 Td (are ) Tj ET Q q 0 0 0 rg BT 462.88 240.50 Td (accounted ) Tj ET Q q 0 0 0 rg BT 498.00 240.50 Td (for ) Tj ET Q q 0 0 0 rg BT 510.02 240.50 Td (using ) Tj ET Q q 0 0 0 rg BT 530.05 240.50 Td (the ) Tj ET Q q 0 0 0 rg BT 542.52 240.50 Td (equity ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 230.90 Td (method.Other ) Tj ET Q q 0 0 0 rg BT 97.71 230.90 Td (investments ) Tj ET Q q 0 0 0 rg BT 137.93 230.90 Td (are ) Tj ET Q q 0 0 0 rg BT 149.70 230.90 Td (accounted ) Tj ET Q q 0 0 0 rg BT 184.12 230.90 Td (for ) Tj ET Q q 0 0 0 rg BT 195.45 230.90 Td (using ) Tj ET Q q 0 0 0 rg BT 214.79 230.90 Td (the ) Tj ET Q q 0 0 0 rg BT 226.56 230.90 Td (cost ) Tj ET Q q 0 0 0 rg BT 241.45 230.90 Td (method.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 212.30 Td (Use ) Tj ET Q q 0 0 0 rg BT 63.94 212.30 Td (of ) Tj ET Q q 0 0 0 rg BT 72.16 212.30 Td (Estimates) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 196.70 Td (The ) Tj ET Q q 0 0 0 rg BT 64.00 196.70 Td (preparation ) Tj ET Q q 0 0 0 rg BT 102.49 196.70 Td (of ) Tj ET Q q 0 0 0 rg BT 111.22 196.70 Td (financial ) Tj ET Q q 0 0 0 rg BT 141.27 196.70 Td (statements ) Tj ET Q q 0 0 0 rg BT 177.11 196.70 Td (in ) Tj ET Q q 0 0 0 rg BT 185.40 196.70 Td (conformity ) Tj ET Q q 0 0 0 rg BT 223.01 196.70 Td (with ) Tj ET Q q 0 0 0 rg BT 239.30 196.70 Td (US ) Tj ET Q q 0 0 0 rg BT 251.59 196.70 Td (GAAP) Tj ET Q q 0 0 0 rg BT 273.07 196.70 Td ( ) Tj ET Q q 0 0 0 rg BT 275.14 196.70 Td (requires ) Tj ET Q q 0 0 0 rg BT 302.97 196.70 Td (management ) Tj ET Q q 0 0 0 rg BT 345.91 196.70 Td (to ) Tj ET Q q 0 0 0 rg BT 354.19 196.70 Td (make ) Tj ET Q q 0 0 0 rg BT 373.58 196.70 Td (estimates ) Tj ET Q q 0 0 0 rg BT 405.42 196.70 Td (and ) Tj ET Q q 0 0 0 rg BT 419.04 196.70 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 460.66 196.70 Td (that ) Tj ET Q q 0 0 0 rg BT 474.72 196.70 Td (af) Tj ET Q q 0 0 0 rg BT 480.79 196.70 Td (fect ) Tj ET Q q 0 0 0 rg BT 494.84 196.70 Td (the ) Tj ET Q q 0 0 0 rg BT 506.68 196.70 Td (reported ) Tj ET Q q 0 0 0 rg BT 535.40 196.70 Td (amounts ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 187.10 Td (of ) Tj ET Q q 0 0 0 rg BT 57.93 187.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 78.37 187.10 Td (and ) Tj ET Q q 0 0 0 rg BT 91.69 187.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 123.23 187.10 Td (and ) Tj ET Q q 0 0 0 rg BT 136.56 187.10 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 170.76 187.10 Td (of ) Tj ET Q q 0 0 0 rg BT 179.20 187.10 Td (contingent ) Tj ET Q q 0 0 0 rg BT 214.74 187.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 235.17 187.10 Td (and ) Tj ET Q q 0 0 0 rg BT 248.49 187.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 280.04 187.10 Td (at ) Tj ET Q q 0 0 0 rg BT 287.58 187.10 Td (the ) Tj ET Q q 0 0 0 rg BT 299.13 187.10 Td (date ) Tj ET Q q 0 0 0 rg BT 314.22 187.10 Td (of ) Tj ET Q q 0 0 0 rg BT 322.66 187.10 Td (the ) Tj ET Q q 0 0 0 rg BT 334.20 187.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 363.95 187.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 399.49 187.10 Td (and ) Tj ET Q q 0 0 0 rg BT 412.82 187.10 Td (the ) Tj ET Q q 0 0 0 rg BT 424.36 187.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 452.78 187.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 481.66 187.10 Td (of ) Tj ET Q q 0 0 0 rg BT 490.10 187.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 520.30 187.10 Td (and ) Tj ET Q q 0 0 0 rg BT 533.62 187.10 Td (expenses ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 177.50 Td (during ) Tj ET Q q 0 0 0 rg BT 72.39 177.50 Td (the ) Tj ET Q q 0 0 0 rg BT 84.16 177.50 Td (reporting ) Tj ET Q q 0 0 0 rg BT 115.48 177.50 Td (periods.) Tj ET Q q 0 0 0 rg BT 142.59 177.50 Td (Actual ) Tj ET Q q 0 0 0 rg BT 165.92 177.50 Td (results ) Tj ET Q q 0 0 0 rg BT 188.80 177.50 Td (could ) Tj ET Q q 0 0 0 rg BT 208.58 177.50 Td (dif) Tj ET Q q 0 0 0 rg BT 217.32 177.50 Td (fer ) Tj ET Q q 0 0 0 rg BT 228.20 177.50 Td (from ) Tj ET Q q 0 0 0 rg BT 245.75 177.50 Td (those ) Tj ET Q q 0 0 0 rg BT 264.64 177.50 Td (estimates ) Tj ET Q q 0 0 0 rg BT 296.41 177.50 Td (and ) Tj ET Q q 0 0 0 rg BT 309.96 177.50 Td (assumptions.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 158.90 Td (Going ) Tj ET Q q 0 0 0 rg BT 71.50 158.90 Td (Concern) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 143.30 Td (These ) Tj ET Q q 0 0 0 rg BT 71.17 143.30 Td (financial ) Tj ET Q q 0 0 0 rg BT 101.71 143.30 Td (statements ) Tj ET Q q 0 0 0 rg BT 138.05 143.30 Td (have ) Tj ET Q q 0 0 0 rg BT 155.71 143.30 Td (been ) Tj ET Q q 0 0 0 rg BT 173.38 143.30 Td (prepared ) Tj ET Q q 0 0 0 rg BT 203.92 143.30 Td (on ) Tj ET Q q 0 0 0 rg BT 214.48 143.30 Td (a ) Tj ET Q q 0 0 0 rg BT 220.60 143.30 Td (going ) Tj ET Q q 0 0 0 rg BT 241.38 143.30 Td (concern ) Tj ET Q q 0 0 0 rg BT 269.26 143.30 Td (basis, ) Tj ET Q q 0 0 0 rg BT 289.83 143.30 Td (which ) Tj ET Q q 0 0 0 rg BT 311.94 143.30 Td (implies ) Tj ET Q q 0 0 0 rg BT 338.06 143.30 Td (that ) Tj ET Q q 0 0 0 rg BT 352.62 143.30 Td (the ) Tj ET Q q 0 0 0 rg BT 364.96 143.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 398.63 143.30 Td (will ) Tj ET Q q 0 0 0 rg BT 413.64 143.30 Td (continue ) Tj ET Q q 0 0 0 rg BT 443.75 143.30 Td (to ) Tj ET Q q 0 0 0 rg BT 452.53 143.30 Td (realize ) Tj ET Q q 0 0 0 rg BT 476.41 143.30 Td (its ) Tj ET Q q 0 0 0 rg BT 486.53 143.30 Td (assets ) Tj ET Q q 0 0 0 rg BT 507.76 143.30 Td (and ) Tj ET Q q 0 0 0 rg BT 521.87 143.30 Td (dischar) Tj ET Q q 0 0 0 rg BT 544.83 143.30 Td (ge ) Tj ET Q q 0 0 0 rg BT 554.95 143.30 Td (its ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 133.70 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 81.72 133.70 Td (in ) Tj ET Q q 0 0 0 rg BT 90.38 133.70 Td (the ) Tj ET Q q 0 0 0 rg BT 102.60 133.70 Td (normal ) Tj ET Q q 0 0 0 rg BT 127.70 133.70 Td (course ) Tj ET Q q 0 0 0 rg BT 151.02 133.70 Td (of ) Tj ET Q q 0 0 0 rg BT 160.13 133.70 Td (business. ) Tj ET Q q 0 0 0 rg BT 191.68 133.70 Td (Our ) Tj ET Q q 0 0 0 rg BT 206.57 133.70 Td (2015 ) Tj ET Q q 0 0 0 rg BT 225.01 133.70 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 265.22 133.70 Td (Notes ) Tj ET Q q 0 0 0 rg BT 286.33 133.70 Td (mature ) Tj ET Q q 0 0 0 rg BT 310.98 133.70 Td (on ) Tj ET Q q 0 0 0 rg BT 321.42 133.70 Td (November ) Tj ET Q q 0 0 0 rg BT 357.63 133.70 Td (15, ) Tj ET Q q 0 0 0 rg BT 370.07 133.70 Td (2015. ) Tj ET Q q 0 0 0 rg BT 390.34 133.70 Td (W) Tj ET Q q 0 0 0 rg BT 397.25 133.70 Td (e ) Tj ET Q q 0 0 0 rg BT 403.24 133.70 Td (have ) Tj ET Q q 0 0 0 rg BT 420.79 133.70 Td (entered ) Tj ET Q q 0 0 0 rg BT 446.77 133.70 Td (into ) Tj ET Q q 0 0 0 rg BT 461.66 133.70 Td (a ) Tj ET Q q 0 0 0 rg BT 467.65 133.70 Td (commitment ) Tj ET Q q 0 0 0 rg BT 510.53 133.70 Td (letter ) Tj ET Q q 0 0 0 rg BT 529.40 133.70 Td (with ) Tj ET Q q 0 0 0 rg BT 545.89 133.70 Td (T) Tj ET Q q 0 0 0 rg BT 550.50 133.70 Td (ime ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 124.10 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 124.10 Td (arner ) Tj ET Q q 0 0 0 rg BT 74.78 124.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 89.16 124.10 Td ("2015 ) Tj ET Q q 0 0 0 rg BT 110.36 124.10 Td (Refinancing ) Tj ET Q q 0 0 0 rg BT 151.40 124.10 Td (Commitment ) Tj ET Q q 0 0 0 rg BT 195.57 124.10 Td (Letter"\) ) Tj ET Q q 0 0 0 rg BT 222.53 124.10 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 252.02 124.10 Td (to ) Tj ET Q q 0 0 0 rg BT 260.19 124.10 Td (which ) Tj ET Q q 0 0 0 rg BT 281.54 124.10 Td (T) Tj ET Q q 0 0 0 rg BT 286.14 124.10 Td (ime ) Tj ET Q q 0 0 0 rg BT 299.94 124.10 Td (W) Tj ET Q q 0 0 0 rg BT 306.85 124.10 Td (arner ) Tj ET Q q 0 0 0 rg BT 325.22 124.10 Td (has ) Tj ET Q q 0 0 0 rg BT 337.83 124.10 Td (committed ) Tj ET Q q 0 0 0 rg BT 373.98 124.10 Td (to ) Tj ET Q q 0 0 0 rg BT 382.14 124.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 408.52 124.10 Td (or ) Tj ET Q q 0 0 0 rg BT 417.13 124.10 Td (assist ) Tj ET Q q 0 0 0 rg BT 436.40 124.10 Td (with ) Tj ET Q q 0 0 0 rg BT 452.57 124.10 Td (arranging ) Tj ET Q q 0 0 0 rg BT 485.16 124.10 Td (a ) Tj ET Q q 0 0 0 rg BT 490.65 124.10 Td (replacement ) Tj ET Q q 0 0 0 rg BT 531.68 124.10 Td (facility ) Tj ET Q q 0 0 0 rg BT 556.27 124.10 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 114.50 Td (refinance ) Tj ET Q q 0 0 0 rg BT 80.89 114.50 Td (the ) Tj ET Q q 0 0 0 rg BT 92.30 114.50 Td (2015 ) Tj ET Q q 0 0 0 rg BT 109.93 114.50 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 149.34 114.50 Td (Notes ) Tj ET Q q 0 0 0 rg BT 169.64 114.50 Td (at ) Tj ET Q q 0 0 0 rg BT 177.05 114.50 Td (or ) Tj ET Q q 0 0 0 rg BT 185.35 114.50 Td (immediately ) Tj ET Q q 0 0 0 rg BT 226.97 114.50 Td (prior ) Tj ET Q q 0 0 0 rg BT 244.16 114.50 Td (to ) Tj ET Q q 0 0 0 rg BT 252.02 114.50 Td (their ) Tj ET Q q 0 0 0 rg BT 268.31 114.50 Td (maturity) Tj ET Q q 0 0 0 rg BT 294.90 114.50 Td (. ) Tj ET Q q 0 0 0 rg BT 298.54 114.50 Td (Once ) Tj ET Q q 0 0 0 rg BT 317.05 114.50 Td (the ) Tj ET Q q 0 0 0 rg BT 328.46 114.50 Td (transaction ) Tj ET Q q 0 0 0 rg BT 365.19 114.50 Td (contemplated ) Tj ET Q q 0 0 0 rg BT 409.92 114.50 Td (under ) Tj ET Q q 0 0 0 rg BT 429.77 114.50 Td (the ) Tj ET Q q 0 0 0 rg BT 441.18 114.50 Td (2015 ) Tj ET Q q 0 0 0 rg BT 458.82 114.50 Td (Refinancing ) Tj ET Q q 0 0 0 rg BT 499.55 114.50 Td (Commitment ) Tj ET Q q 0 0 0 rg BT 543.41 114.50 Td (Letter ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 104.90 Td (has ) Tj ET Q q 0 0 0 rg BT 62.73 104.90 Td (completed, ) Tj ET Q q 0 0 0 rg BT 100.62 104.90 Td (we ) Tj ET Q q 0 0 0 rg BT 112.52 104.90 Td (believe ) Tj ET Q q 0 0 0 rg BT 138.18 104.90 Td (we ) Tj ET Q q 0 0 0 rg BT 150.08 104.90 Td (will ) Tj ET Q q 0 0 0 rg BT 165.09 104.90 Td (have ) Tj ET Q q 0 0 0 rg BT 182.76 104.90 Td (adequate ) Tj ET Q q 0 0 0 rg BT 213.76 104.90 Td (cash ) Tj ET Q q 0 0 0 rg BT 230.54 104.90 Td (resources ) Tj ET Q q 0 0 0 rg BT 263.32 104.90 Td (to ) Tj ET Q q 0 0 0 rg BT 272.11 104.90 Td (continue ) Tj ET Q q 0 0 0 rg BT 302.22 104.90 Td (operating ) Tj ET Q q 0 0 0 rg BT 335.00 104.90 Td (as ) Tj ET Q q 0 0 0 rg BT 344.23 104.90 Td (a ) Tj ET Q q 0 0 0 rg BT 350.35 104.90 Td (going ) Tj ET Q q 0 0 0 rg BT 371.14 104.90 Td (concern ) Tj ET Q q 0 0 0 rg BT 399.03 104.90 Td (for ) Tj ET Q q 0 0 0 rg BT 410.93 104.90 Td (the ) Tj ET Q q 0 0 0 rg BT 423.27 104.90 Td (foreseeable ) Tj ET Q q 0 0 0 rg BT 462.25 104.90 Td (future, ) Tj ET Q q 0 0 0 rg BT 485.92 104.90 Td (however ) Tj ET Q q 0 0 0 rg BT 516.04 104.90 Td (funding ) Tj ET Q q 0 0 0 rg BT 543.49 104.90 Td (of ) Tj ET Q q 0 0 0 rg BT 552.72 104.90 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 95.30 Td (transaction ) Tj ET Q q 0 0 0 rg BT 87.06 95.30 Td (is ) Tj ET Q q 0 0 0 rg BT 94.85 95.30 Td (subject ) Tj ET Q q 0 0 0 rg BT 119.97 95.30 Td (to ) Tj ET Q q 0 0 0 rg BT 128.65 95.30 Td (customary ) Tj ET Q q 0 0 0 rg BT 164.43 95.30 Td (closing ) Tj ET Q q 0 0 0 rg BT 190.00 95.30 Td (conditions ) Tj ET Q q 0 0 0 rg BT 225.79 95.30 Td (\(including ) Tj ET Q q 0 0 0 rg BT 261.13 95.30 Td (the ) Tj ET Q q 0 0 0 rg BT 273.36 95.30 Td (execution ) Tj ET Q q 0 0 0 rg BT 306.92 95.30 Td (and ) Tj ET Q q 0 0 0 rg BT 320.92 95.30 Td (delivery ) Tj ET Q q 0 0 0 rg BT 349.59 95.30 Td (of ) Tj ET Q q 0 0 0 rg BT 358.72 95.30 Td (documentation, ) Tj ET Q q 0 0 0 rg BT 410.72 95.30 Td (the ) Tj ET Q q 0 0 0 rg BT 422.95 95.30 Td (accuracy ) Tj ET Q q 0 0 0 rg BT 453.82 95.30 Td (of ) Tj ET Q q 0 0 0 rg BT 462.95 95.30 Td (representations, ) Tj ET Q q 0 0 0 rg BT 515.83 95.30 Td (the ) Tj ET Q q 0 0 0 rg BT 528.06 95.30 Td (absence ) Tj ET Q q 0 0 0 rg BT 555.84 95.30 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 85.70 Td (events ) Tj ET Q q 0 0 0 rg BT 71.90 85.70 Td (of ) Tj ET Q q 0 0 0 rg BT 80.52 85.70 Td (default ) Tj ET Q q 0 0 0 rg BT 104.69 85.70 Td (and ) Tj ET Q q 0 0 0 rg BT 118.20 85.70 Td (the ) Tj ET Q q 0 0 0 rg BT 129.94 85.70 Td (absence ) Tj ET Q q 0 0 0 rg BT 157.21 85.70 Td (of ) Tj ET Q q 0 0 0 rg BT 165.84 85.70 Td (material ) Tj ET Q q 0 0 0 rg BT 194.00 85.70 Td (adverse ) Tj ET Q q 0 0 0 rg BT 220.39 85.70 Td (changes\), ) Tj ET Q q 0 0 0 rg BT 252.78 85.70 Td (certain ) Tj ET Q q 0 0 0 rg BT 276.50 85.70 Td (of ) Tj ET Q q 0 0 0 rg BT 285.13 85.70 Td (which ) Tj ET Q q 0 0 0 rg BT 306.64 85.70 Td (are ) Tj ET Q q 0 0 0 rg BT 318.37 85.70 Td (outside ) Tj ET Q q 0 0 0 rg BT 343.43 85.70 Td (our ) Tj ET Q q 0 0 0 rg BT 356.06 85.70 Td (direct ) Tj ET Q q 0 0 0 rg BT 376.23 85.70 Td (control. ) Tj ET Q q 0 0 0 rg BT 402.71 85.70 Td (While ) Tj ET Q q 0 0 0 rg BT 424.21 85.70 Td (we ) Tj ET Q q 0 0 0 rg BT 435.50 85.70 Td (believe ) Tj ET Q q 0 0 0 rg BT 460.56 85.70 Td (that ) Tj ET Q q 0 0 0 rg BT 474.52 85.70 Td (we ) Tj ET Q q 0 0 0 rg BT 485.80 85.70 Td (will ) Tj ET Q q 0 0 0 rg BT 500.21 85.70 Td (be ) Tj ET Q q 0 0 0 rg BT 509.72 85.70 Td (able ) Tj ET Q q 0 0 0 rg BT 525.00 85.70 Td (to ) Tj ET Q q 0 0 0 rg BT 533.19 85.70 Td (complete ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 76.10 Td (the ) Tj ET Q q 0 0 0 rg BT 61.77 76.10 Td (transaction, ) Tj ET Q q 0 0 0 rg BT 101.36 76.10 Td (if ) Tj ET Q q 0 0 0 rg BT 108.75 76.10 Td (the ) Tj ET Q q 0 0 0 rg BT 121.02 76.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 153.72 76.10 Td (arrangements ) Tj ET Q q 0 0 0 rg BT 199.31 76.10 Td (set ) Tj ET Q q 0 0 0 rg BT 210.69 76.10 Td (forth ) Tj ET Q q 0 0 0 rg BT 228.74 76.10 Td (in ) Tj ET Q q 0 0 0 rg BT 237.46 76.10 Td (the ) Tj ET Q q 0 0 0 rg BT 249.73 76.10 Td (2015 ) Tj ET Q q 0 0 0 rg BT 268.22 76.10 Td (Refinancing ) Tj ET Q q 0 0 0 rg BT 309.82 76.10 Td (Commitment ) Tj ET Q q 0 0 0 rg BT 354.54 76.10 Td (Letter ) Tj ET Q q 0 0 0 rg BT 376.13 76.10 Td (are ) Tj ET Q q 0 0 0 rg BT 388.39 76.10 Td (not ) Tj ET Q q 0 0 0 rg BT 401.11 76.10 Td (completed ) Tj ET Q q 0 0 0 rg BT 436.93 76.10 Td (and ) Tj ET Q q 0 0 0 rg BT 450.97 76.10 Td (we ) Tj ET Q q 0 0 0 rg BT 462.80 76.10 Td (are ) Tj ET Q q 0 0 0 rg BT 475.06 76.10 Td (unable ) Tj ET Q q 0 0 0 rg BT 498.88 76.10 Td (to ) Tj ET Q q 0 0 0 rg BT 507.60 76.10 Td (secure ) Tj ET Q q 0 0 0 rg BT 530.52 76.10 Td (additional ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 66.50 Td (financing, ) Tj ET Q q 0 0 0 rg BT 83.55 66.50 Td (we ) Tj ET Q q 0 0 0 rg BT 94.72 66.50 Td (will ) Tj ET Q q 0 0 0 rg BT 109.00 66.50 Td (be ) Tj ET Q q 0 0 0 rg BT 118.39 66.50 Td (unable ) Tj ET Q q 0 0 0 rg BT 141.55 66.50 Td (to ) Tj ET Q q 0 0 0 rg BT 149.62 66.50 Td (meet ) Tj ET Q q 0 0 0 rg BT 167.00 66.50 Td (our ) Tj ET Q q 0 0 0 rg BT 179.50 66.50 Td (repayment ) Tj ET Q q 0 0 0 rg BT 215.10 66.50 Td (obligation ) Tj ET Q q 0 0 0 rg BT 249.38 66.50 Td (when ) Tj ET Q q 0 0 0 rg BT 268.55 66.50 Td (the ) Tj ET Q q 0 0 0 rg BT 280.16 66.50 Td (2015 ) Tj ET Q q 0 0 0 rg BT 298.00 66.50 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 337.61 66.50 Td (Notes ) Tj ET Q q 0 0 0 rg BT 358.11 66.50 Td (mature. ) Tj ET Q q 0 0 0 rg BT 384.03 66.50 Td (The ) Tj ET Q q 0 0 0 rg BT 398.31 66.50 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 446.79 66.50 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 489.07 66.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 518.89 66.50 Td (statements ) Tj ET Q q 0 0 0 rg BT 554.50 66.50 Td (do ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 56.90 Td (not ) Tj ET Q q 0 0 0 rg BT 61.72 56.90 Td (include ) Tj ET Q q 0 0 0 rg BT 87.27 56.90 Td (any ) Tj ET Q q 0 0 0 rg BT 100.82 56.90 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 141.04 56.90 Td (that ) Tj ET Q q 0 0 0 rg BT 155.04 56.90 Td (might ) Tj ET Q q 0 0 0 rg BT 175.70 56.90 Td (result ) Tj ET Q q 0 0 0 rg BT 195.48 56.90 Td (from ) Tj ET Q q 0 0 0 rg BT 213.03 56.90 Td (the ) Tj ET Q q 0 0 0 rg BT 224.80 56.90 Td (outcome ) Tj ET Q q 0 0 0 rg BT 254.35 56.90 Td (of ) Tj ET Q q 0 0 0 rg BT 263.01 56.90 Td (these ) Tj ET Q q 0 0 0 rg BT 281.45 56.90 Td (uncertainties.) Tj ET Q endstream endobj 103 0 obj <>] /Rotate 0 /Contents 104 0 R>> endobj 104 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (49) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 723.45 Td (Pr) Tj ET Q q 0 0 0 rg BT 57.20 723.45 Td (ogramming ) Tj ET Q q 0 0 0 rg BT 95.95 723.45 Td (Amortization ) Tj ET Q q 0 0 0 rg BT 139.73 723.45 Td (Estimates) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 707.85 Td (During ) Tj ET Q q 0 0 0 rg BT 74.27 707.85 Td (the ) Tj ET Q q 0 0 0 rg BT 86.15 707.85 Td (year ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 102.02 707.85 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 118.02 707.85 Td (, ) Tj ET Q q 0 0 0 rg BT 122.12 707.85 Td (we ) Tj ET Q q 0 0 0 rg BT 133.55 707.85 Td (concluded ) Tj ET Q q 0 0 0 rg BT 168.53 707.85 Td (a ) Tj ET Q q 0 0 0 rg BT 174.19 707.85 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 224.72 707.85 Td (review ) Tj ET Q q 0 0 0 rg BT 248.59 707.85 Td (of ) Tj ET Q q 0 0 0 rg BT 257.36 707.85 Td (the ) Tj ET Q q 0 0 0 rg BT 269.24 707.85 Td (future ) Tj ET Q q 0 0 0 rg BT 290.44 707.85 Td (benefit ) Tj ET Q q 0 0 0 rg BT 314.76 707.85 Td (of ) Tj ET Q q 0 0 0 rg BT 323.53 707.85 Td (program ) Tj ET Q q 0 0 0 rg BT 352.73 707.85 Td (rights ) Tj ET Q q 0 0 0 rg BT 373.06 707.85 Td (and ) Tj ET Q q 0 0 0 rg BT 386.71 707.85 Td (of ) Tj ET Q q 0 0 0 rg BT 395.48 707.85 Td (the ) Tj ET Q q 0 0 0 rg BT 407.36 707.85 Td (appropriateness ) Tj ET Q q 0 0 0 rg BT 459.67 707.85 Td (of ) Tj ET Q q 0 0 0 rg BT 468.44 707.85 Td (our ) Tj ET Q q 0 0 0 rg BT 481.21 707.85 Td (program ) Tj ET Q q 0 0 0 rg BT 510.41 707.85 Td (rights ) Tj ET Q q 0 0 0 rg BT 530.74 707.85 Td (estimates. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 698.25 Td (e ) Tj ET Q q 0 0 0 rg BT 62.35 698.25 Td (perform ) Tj ET Q q 0 0 0 rg BT 90.51 698.25 Td (our ) Tj ET Q q 0 0 0 rg BT 103.57 698.25 Td (review ) Tj ET Q q 0 0 0 rg BT 127.73 698.25 Td (on ) Tj ET Q q 0 0 0 rg BT 138.12 698.25 Td (a ) Tj ET Q q 0 0 0 rg BT 144.06 698.25 Td (triennial ) Tj ET Q q 0 0 0 rg BT 173.11 698.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 191.50 698.25 Td (or ) Tj ET Q q 0 0 0 rg BT 200.56 698.25 Td (when ) Tj ET Q q 0 0 0 rg BT 220.28 698.25 Td (events ) Tj ET Q q 0 0 0 rg BT 243.11 698.25 Td (occur ) Tj ET Q q 0 0 0 rg BT 263.27 698.25 Td (or ) Tj ET Q q 0 0 0 rg BT 272.33 698.25 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 320.03 698.25 Td (change ) Tj ET Q q 0 0 0 rg BT 345.08 698.25 Td (that ) Tj ET Q q 0 0 0 rg BT 359.46 698.25 Td (would ) Tj ET Q q 0 0 0 rg BT 381.86 698.25 Td (so ) Tj ET Q q 0 0 0 rg BT 391.36 698.25 Td (require. ) Tj ET Q q 0 0 0 rg BT 418.24 698.25 Td (This ) Tj ET Q q 0 0 0 rg BT 434.85 698.25 Td (triennial ) Tj ET Q q 0 0 0 rg BT 463.90 698.25 Td (review ) Tj ET Q q 0 0 0 rg BT 488.06 698.25 Td (included ) Tj ET Q q 0 0 0 rg BT 518.00 698.25 Td (a ) Tj ET Q q 0 0 0 rg BT 523.94 698.25 Td (study ) Tj ET Q q 0 0 0 rg BT 543.67 698.25 Td (of ) Tj ET Q q 0 0 0 rg BT 552.73 698.25 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 688.65 Td (relative ) Tj ET Q q 0 0 0 rg BT 75.74 688.65 Td (value ) Tj ET Q q 0 0 0 rg BT 95.32 688.65 Td (generated ) Tj ET Q q 0 0 0 rg BT 128.67 688.65 Td (by ) Tj ET Q q 0 0 0 rg BT 138.92 688.65 Td (all ) Tj ET Q q 0 0 0 rg BT 149.17 688.65 Td (runs ) Tj ET Q q 0 0 0 rg BT 165.21 688.65 Td (of ) Tj ET Q q 0 0 0 rg BT 174.13 688.65 Td (a ) Tj ET Q q 0 0 0 rg BT 179.93 688.65 Td (license ) Tj ET Q q 0 0 0 rg BT 204.40 688.65 Td (in ) Tj ET Q q 0 0 0 rg BT 212.88 688.65 Td (past ) Tj ET Q q 0 0 0 rg BT 228.02 688.65 Td (periods. ) Tj ET Q q 0 0 0 rg BT 255.67 688.65 Td (W) Tj ET Q q 0 0 0 rg BT 262.58 688.65 Td (e ) Tj ET Q q 0 0 0 rg BT 268.38 688.65 Td (concluded ) Tj ET Q q 0 0 0 rg BT 303.51 688.65 Td (that ) Tj ET Q q 0 0 0 rg BT 317.76 688.65 Td (the ) Tj ET Q q 0 0 0 rg BT 329.79 688.65 Td (existing ) Tj ET Q q 0 0 0 rg BT 357.38 688.65 Td (allocation ) Tj ET Q q 0 0 0 rg BT 391.18 688.65 Td (for ) Tj ET Q q 0 0 0 rg BT 402.76 688.65 Td (acquired ) Tj ET Q q 0 0 0 rg BT 432.56 688.65 Td (program ) Tj ET Q q 0 0 0 rg BT 461.92 688.65 Td (rights ) Tj ET Q q 0 0 0 rg BT 482.40 688.65 Td (with ) Tj ET Q q 0 0 0 rg BT 498.87 688.65 Td (an ) Tj ET Q q 0 0 0 rg BT 508.68 688.65 Td (estimated ) Tj ET Q q 0 0 0 rg BT 541.59 688.65 Td (two ) Tj ET Q q 0 0 0 rg BT 555.85 688.65 Td (or ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 679.05 Td (three ) Tj ET Q q 0 0 0 rg BT 67.11 679.05 Td (runs ) Tj ET Q q 0 0 0 rg BT 82.50 679.05 Td (was ) Tj ET Q q 0 0 0 rg BT 96.56 679.05 Td (still ) Tj ET Q q 0 0 0 rg BT 110.18 679.05 Td (appropriate. ) Tj ET Q q 0 0 0 rg BT 150.23 679.05 Td (However) Tj ET Q q 0 0 0 rg BT 179.23 679.05 Td (, ) Tj ET Q q 0 0 0 rg BT 182.85 679.05 Td (we ) Tj ET Q q 0 0 0 rg BT 193.79 679.05 Td (estimate ) Tj ET Q q 0 0 0 rg BT 222.07 679.05 Td (that ) Tj ET Q q 0 0 0 rg BT 235.68 679.05 Td (the ) Tj ET Q q 0 0 0 rg BT 247.07 679.05 Td (first ) Tj ET Q q 0 0 0 rg BT 261.58 679.05 Td (run ) Tj ET Q q 0 0 0 rg BT 273.86 679.05 Td (of ) Tj ET Q q 0 0 0 rg BT 282.14 679.05 Td (our ) Tj ET Q q 0 0 0 rg BT 294.42 679.05 Td (own-produced ) Tj ET Q q 0 0 0 rg BT 342.25 679.05 Td (program ) Tj ET Q q 0 0 0 rg BT 370.97 679.05 Td (rights ) Tj ET Q q 0 0 0 rg BT 390.81 679.05 Td (library ) Tj ET Q q 0 0 0 rg BT 413.75 679.05 Td (will ) Tj ET Q q 0 0 0 rg BT 427.82 679.05 Td (generate ) Tj ET Q q 0 0 0 rg BT 456.52 679.05 Td (more ) Tj ET Q q 0 0 0 rg BT 474.58 679.05 Td (value ) Tj ET Q q 0 0 0 rg BT 493.52 679.05 Td (relative ) Tj ET Q q 0 0 0 rg BT 519.12 679.05 Td (to ) Tj ET Q q 0 0 0 rg BT 526.96 679.05 Td (subsequent ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 669.45 Td (runs ) Tj ET Q q 0 0 0 rg BT 65.28 669.45 Td (than ) Tj ET Q q 0 0 0 rg BT 81.05 669.45 Td (our ) Tj ET Q q 0 0 0 rg BT 93.71 669.45 Td (previous ) Tj ET Q q 0 0 0 rg BT 123.27 669.45 Td (estimate. ) Tj ET Q q 0 0 0 rg BT 153.48 669.45 Td (As ) Tj ET Q q 0 0 0 rg BT 164.37 669.45 Td (a ) Tj ET Q q 0 0 0 rg BT 169.92 669.45 Td (result, ) Tj ET Q q 0 0 0 rg BT 191.70 669.45 Td (the ) Tj ET Q q 0 0 0 rg BT 203.47 669.45 Td (prospective ) Tj ET Q q 0 0 0 rg BT 242.34 669.45 Td (change ) Tj ET Q q 0 0 0 rg BT 267.00 669.45 Td (in ) Tj ET Q q 0 0 0 rg BT 275.22 669.45 Td (estimate ) Tj ET Q q 0 0 0 rg BT 303.88 669.45 Td (had ) Tj ET Q q 0 0 0 rg BT 317.43 669.45 Td (the ) Tj ET Q q 0 0 0 rg BT 329.20 669.45 Td (following ) Tj ET Q q 0 0 0 rg BT 362.31 669.45 Td (impacts ) Tj ET Q q 0 0 0 rg BT 389.19 669.45 Td (on ) Tj ET Q q 0 0 0 rg BT 399.19 669.45 Td (results ) Tj ET Q q 0 0 0 rg BT 422.08 669.45 Td (for ) Tj ET Q q 0 0 0 rg BT 433.41 669.45 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 445.18 669.45 Td (year) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.95 669.45 Td ( ) Tj ET Q q 0 0 0 rg BT 460.95 669.45 Td (ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.05 669.45 Td (December31, ) Tj ET Q q 0 0 0 rg BT 528.91 669.45 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.91 669.45 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 637.95 401.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 637.95 112.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 607.95 401.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 607.95 112.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 586.95 401.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 586.95 112.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 556.95 401.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 556.95 112.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 450 637.95 m 562 637.95 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.85 650.18 Td (For The Year Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 473.25 642.18 Td (December31,2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 627.20 Td (Increase in content costs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.50 627.20 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 627.20 Td (7,678) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 612.20 Td (Increase in loss from continuing operations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 612.20 Td (7,678) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 597.20 Td (Increase in net loss attributable to CME Ltd.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 597.20 Td (7,678) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 576.18 Td (PER SHARE DATA:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 561.20 Td (Increase in loss from continuing operations - basic and diluted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.50 561.20 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.80 561.20 Td (0.05) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 546.20 Td (Increase in net loss attributable to CME Ltd. - basic and diluted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.80 546.20 Td (0.05) Tj ET Q BT /F1 8.00 Tf ET BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 523.85 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 80.83 523.85 Td (Recognition) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 508.25 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 79.50 508.25 Td (is ) Tj ET Q q 0 0 0 rg BT 86.85 508.25 Td (recognized ) Tj ET Q q 0 0 0 rg BT 123.96 508.25 Td (when ) Tj ET Q q 0 0 0 rg BT 143.30 508.25 Td (there ) Tj ET Q q 0 0 0 rg BT 161.30 508.25 Td (is ) Tj ET Q q 0 0 0 rg BT 168.65 508.25 Td (persuasive ) Tj ET Q q 0 0 0 rg BT 204.43 508.25 Td (evidence ) Tj ET Q q 0 0 0 rg BT 234.87 508.25 Td (of ) Tj ET Q q 0 0 0 rg BT 243.54 508.25 Td (an ) Tj ET Q q 0 0 0 rg BT 253.11 508.25 Td (arrangement, ) Tj ET Q q 0 0 0 rg BT 297.10 508.25 Td (delivery ) Tj ET Q q 0 0 0 rg BT 325.32 508.25 Td (of ) Tj ET Q q 0 0 0 rg BT 334.00 508.25 Td (products ) Tj ET Q q 0 0 0 rg BT 363.57 508.25 Td (has ) Tj ET Q q 0 0 0 rg BT 376.24 508.25 Td (occurred ) Tj ET Q q 0 0 0 rg BT 406.24 508.25 Td (or ) Tj ET Q q 0 0 0 rg BT 414.92 508.25 Td (services ) Tj ET Q q 0 0 0 rg BT 442.70 508.25 Td (have ) Tj ET Q q 0 0 0 rg BT 459.81 508.25 Td (been ) Tj ET Q q 0 0 0 rg BT 476.93 508.25 Td (rendered, ) Tj ET Q q 0 0 0 rg BT 508.92 508.25 Td (the ) Tj ET Q q 0 0 0 rg BT 520.71 508.25 Td (price ) Tj ET Q q 0 0 0 rg BT 538.71 508.25 Td (is ) Tj ET Q q 0 0 0 rg BT 546.06 508.25 Td (fixed ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 498.65 Td (or ) Tj ET Q q 0 0 0 rg BT 57.87 498.65 Td (determinable ) Tj ET Q q 0 0 0 rg BT 101.33 498.65 Td (and ) Tj ET Q q 0 0 0 rg BT 114.59 498.65 Td (collectibility ) Tj ET Q q 0 0 0 rg BT 156.73 498.65 Td (is ) Tj ET Q q 0 0 0 rg BT 163.77 498.65 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 200.13 498.65 Td (assured. ) Tj ET Q q 0 0 0 rg BT 227.45 498.65 Td (A) Tj ET Q q 0 0 0 rg BT 232.79 498.65 Td ( ) Tj ET Q q 0 0 0 rg BT 234.49 498.65 Td (bad ) Tj ET Q q 0 0 0 rg BT 247.75 498.65 Td (debt ) Tj ET Q q 0 0 0 rg BT 263.23 498.65 Td (provision ) Tj ET Q q 0 0 0 rg BT 295.16 498.65 Td (is ) Tj ET Q q 0 0 0 rg BT 302.20 498.65 Td (maintained ) Tj ET Q q 0 0 0 rg BT 339.45 498.65 Td (for ) Tj ET Q q 0 0 0 rg BT 350.48 498.65 Td (estimated ) Tj ET Q q 0 0 0 rg BT 382.85 498.65 Td (losses ) Tj ET Q q 0 0 0 rg BT 403.67 498.65 Td (resulting ) Tj ET Q q 0 0 0 rg BT 433.37 498.65 Td (from ) Tj ET Q q 0 0 0 rg BT 450.63 498.65 Td (our ) Tj ET Q q 0 0 0 rg BT 463.00 498.65 Td (customers' ) Tj ET Q q 0 0 0 rg BT 498.58 498.65 Td (subsequent ) Tj ET Q q 0 0 0 rg BT 535.84 498.65 Td (inability ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 489.05 Td (to ) Tj ET Q q 0 0 0 rg BT 57.72 489.05 Td (make ) Tj ET Q q 0 0 0 rg BT 77.05 489.05 Td (payments.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 473.45 Td (Revenues ) Tj ET Q q 0 0 0 rg BT 82.67 473.45 Td (are ) Tj ET Q q 0 0 0 rg BT 94.51 473.45 Td (recognized ) Tj ET Q q 0 0 0 rg BT 131.67 473.45 Td (net ) Tj ET Q q 0 0 0 rg BT 143.51 473.45 Td (of ) Tj ET Q q 0 0 0 rg BT 152.25 473.45 Td (discounts ) Tj ET Q q 0 0 0 rg BT 184.54 473.45 Td (and ) Tj ET Q q 0 0 0 rg BT 198.16 473.45 Td (customer ) Tj ET Q q 0 0 0 rg BT 229.55 473.45 Td (sales ) Tj ET Q q 0 0 0 rg BT 247.18 473.45 Td (incentives. ) Tj ET Q q 0 0 0 rg BT 283.68 473.45 Td (Our ) Tj ET Q q 0 0 0 rg BT 298.19 473.45 Td (principal ) Tj ET Q q 0 0 0 rg BT 328.70 473.45 Td (revenue ) Tj ET Q q 0 0 0 rg BT 356.08 473.45 Td (streams ) Tj ET Q q 0 0 0 rg BT 382.59 473.45 Td (and ) Tj ET Q q 0 0 0 rg BT 396.21 473.45 Td (their ) Tj ET Q q 0 0 0 rg BT 412.94 473.45 Td (respective ) Tj ET Q q 0 0 0 rg BT 447.44 473.45 Td (accounting ) Tj ET Q q 0 0 0 rg BT 484.61 473.45 Td (treatments ) Tj ET Q q 0 0 0 rg BT 520.00 473.45 Td (are ) Tj ET Q q 0 0 0 rg BT 531.83 473.45 Td (discussed ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 463.85 Td (below:) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 445.25 Td (Advertising ) Tj ET Q q 0 0 0 rg BT 88.38 445.25 Td (r) Tj ET Q q 0 0 0 rg BT 91.20 445.25 Td (evenue) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 429.65 Td (Revenues ) Tj ET Q q 0 0 0 rg BT 83.04 429.65 Td (primarily ) Tj ET Q q 0 0 0 rg BT 115.25 429.65 Td (result ) Tj ET Q q 0 0 0 rg BT 135.47 429.65 Td (from ) Tj ET Q q 0 0 0 rg BT 153.46 429.65 Td (the ) Tj ET Q q 0 0 0 rg BT 165.67 429.65 Td (sale ) Tj ET Q q 0 0 0 rg BT 180.55 429.65 Td (of ) Tj ET Q q 0 0 0 rg BT 189.65 429.65 Td (advertising ) Tj ET Q q 0 0 0 rg BT 227.64 429.65 Td (time. ) Tj ET Q q 0 0 0 rg BT 246.12 429.65 Td (T) Tj ET Q q 0 0 0 rg BT 250.45 429.65 Td (elevision ) Tj ET Q q 0 0 0 rg BT 281.77 429.65 Td (advertising ) Tj ET Q q 0 0 0 rg BT 319.76 429.65 Td (revenue ) Tj ET Q q 0 0 0 rg BT 347.52 429.65 Td (is ) Tj ET Q q 0 0 0 rg BT 355.30 429.65 Td (recognized ) Tj ET Q q 0 0 0 rg BT 392.83 429.65 Td (as ) Tj ET Q q 0 0 0 rg BT 401.93 429.65 Td (the ) Tj ET Q q 0 0 0 rg BT 414.14 429.65 Td (commercials ) Tj ET Q q 0 0 0 rg BT 457.46 429.65 Td (are ) Tj ET Q q 0 0 0 rg BT 469.66 429.65 Td (aired. ) Tj ET Q q 0 0 0 rg BT 490.09 429.65 Td (In ) Tj ET Q q 0 0 0 rg BT 499.19 429.65 Td (many ) Tj ET Q q 0 0 0 rg BT 519.41 429.65 Td (countries, ) Tj ET Q q 0 0 0 rg BT 553.17 429.65 Td (we ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 420.05 Td (commit ) Tj ET Q q 0 0 0 rg BT 76.20 420.05 Td (to ) Tj ET Q q 0 0 0 rg BT 84.67 420.05 Td (provide ) Tj ET Q q 0 0 0 rg BT 111.37 420.05 Td (advertisers ) Tj ET Q q 0 0 0 rg BT 148.27 420.05 Td (with ) Tj ET Q q 0 0 0 rg BT 164.75 420.05 Td (certain ) Tj ET Q q 0 0 0 rg BT 188.77 420.05 Td (rating ) Tj ET Q q 0 0 0 rg BT 209.68 420.05 Td (levels ) Tj ET Q q 0 0 0 rg BT 230.60 420.05 Td (in ) Tj ET Q q 0 0 0 rg BT 239.08 420.05 Td (connection ) Tj ET Q q 0 0 0 rg BT 276.43 420.05 Td (with ) Tj ET Q q 0 0 0 rg BT 292.91 420.05 Td (their ) Tj ET Q q 0 0 0 rg BT 309.82 420.05 Td (advertising. ) Tj ET Q q 0 0 0 rg BT 349.62 420.05 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 379.87 420.05 Td (is ) Tj ET Q q 0 0 0 rg BT 387.46 420.05 Td (recorded ) Tj ET Q q 0 0 0 rg BT 417.69 420.05 Td (net ) Tj ET Q q 0 0 0 rg BT 429.72 420.05 Td (of ) Tj ET Q q 0 0 0 rg BT 438.64 420.05 Td (estimated ) Tj ET Q q 0 0 0 rg BT 471.55 420.05 Td (shortfalls, ) Tj ET Q q 0 0 0 rg BT 505.58 420.05 Td (which ) Tj ET Q q 0 0 0 rg BT 527.38 420.05 Td (are ) Tj ET Q q 0 0 0 rg BT 539.40 420.05 Td (usually ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 410.45 Td (settled ) Tj ET Q q 0 0 0 rg BT 72.50 410.45 Td (by ) Tj ET Q q 0 0 0 rg BT 82.62 410.45 Td (providing ) Tj ET Q q 0 0 0 rg BT 115.85 410.45 Td (the ) Tj ET Q q 0 0 0 rg BT 127.74 410.45 Td (advertiser ) Tj ET Q q 0 0 0 rg BT 161.40 410.45 Td (additional ) Tj ET Q q 0 0 0 rg BT 195.51 410.45 Td (advertising ) Tj ET Q q 0 0 0 rg BT 233.17 410.45 Td (time. ) Tj ET Q q 0 0 0 rg BT 251.51 410.45 Td (Discounts ) Tj ET Q q 0 0 0 rg BT 285.63 410.45 Td (and ) Tj ET Q q 0 0 0 rg BT 299.29 410.45 Td (agency ) Tj ET Q q 0 0 0 rg BT 324.07 410.45 Td (commissions ) Tj ET Q q 0 0 0 rg BT 367.96 410.45 Td (are ) Tj ET Q q 0 0 0 rg BT 379.85 410.45 Td (recognized ) Tj ET Q q 0 0 0 rg BT 417.06 410.45 Td (at ) Tj ET Q q 0 0 0 rg BT 424.95 410.45 Td (the ) Tj ET Q q 0 0 0 rg BT 436.84 410.45 Td (point ) Tj ET Q q 0 0 0 rg BT 455.40 410.45 Td (when ) Tj ET Q q 0 0 0 rg BT 474.85 410.45 Td (the ) Tj ET Q q 0 0 0 rg BT 486.74 410.45 Td (advertising ) Tj ET Q q 0 0 0 rg BT 524.41 410.45 Td (is ) Tj ET Q q 0 0 0 rg BT 531.86 410.45 Td (broadcast ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 400.85 Td (and ) Tj ET Q q 0 0 0 rg BT 62.96 400.85 Td (are ) Tj ET Q q 0 0 0 rg BT 74.63 400.85 Td (reflected ) Tj ET Q q 0 0 0 rg BT 104.51 400.85 Td (as ) Tj ET Q q 0 0 0 rg BT 113.08 400.85 Td (a ) Tj ET Q q 0 0 0 rg BT 118.54 400.85 Td (reduction ) Tj ET Q q 0 0 0 rg BT 150.66 400.85 Td (to ) Tj ET Q q 0 0 0 rg BT 158.79 400.85 Td (gross ) Tj ET Q q 0 0 0 rg BT 177.58 400.85 Td (revenue. ) Tj ET Q q 0 0 0 rg BT 206.80 400.85 Td (Display ) Tj ET Q q 0 0 0 rg BT 233.60 400.85 Td (advertising ) Tj ET Q q 0 0 0 rg BT 271.05 400.85 Td (on ) Tj ET Q q 0 0 0 rg BT 280.96 400.85 Td (our ) Tj ET Q q 0 0 0 rg BT 293.53 400.85 Td (websites ) Tj ET Q q 0 0 0 rg BT 322.98 400.85 Td (is ) Tj ET Q q 0 0 0 rg BT 330.23 400.85 Td (recognized ) Tj ET Q q 0 0 0 rg BT 367.22 400.85 Td (as ) Tj ET Q q 0 0 0 rg BT 375.79 400.85 Td (impressions ) Tj ET Q q 0 0 0 rg BT 415.92 400.85 Td (are ) Tj ET Q q 0 0 0 rg BT 427.59 400.85 Td (delivered. ) Tj ET Q q 0 0 0 rg BT 461.26 400.85 Td (Impressions ) Tj ET Q q 0 0 0 rg BT 501.83 400.85 Td (are ) Tj ET Q q 0 0 0 rg BT 513.50 400.85 Td (delivered ) Tj ET Q q 0 0 0 rg BT 545.17 400.85 Td (when ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 391.25 Td (an ) Tj ET Q q 0 0 0 rg BT 59.05 391.25 Td (advertisement ) Tj ET Q q 0 0 0 rg BT 105.92 391.25 Td (appears ) Tj ET Q q 0 0 0 rg BT 132.35 391.25 Td (in ) Tj ET Q q 0 0 0 rg BT 140.57 391.25 Td (pages ) Tj ET Q q 0 0 0 rg BT 160.79 391.25 Td (viewed ) Tj ET Q q 0 0 0 rg BT 185.89 391.25 Td (by ) Tj ET Q q 0 0 0 rg BT 195.89 391.25 Td (users.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 372.65 Td (Carriage ) Tj ET Q q 0 0 0 rg BT 80.84 372.65 Td (fees ) Tj ET Q q 0 0 0 rg BT 95.27 372.65 Td (and ) Tj ET Q q 0 0 0 rg BT 109.27 372.65 Td (subscription ) Tj ET Q q 0 0 0 rg BT 150.83 372.65 Td (r) Tj ET Q q 0 0 0 rg BT 153.65 372.65 Td (evenues) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 357.05 Td (Carriage ) Tj ET Q q 0 0 0 rg BT 79.12 357.05 Td (fees ) Tj ET Q q 0 0 0 rg BT 94.08 357.05 Td (from ) Tj ET Q q 0 0 0 rg BT 111.72 357.05 Td (cable ) Tj ET Q q 0 0 0 rg BT 130.68 357.05 Td (operators ) Tj ET Q q 0 0 0 rg BT 162.52 357.05 Td (and ) Tj ET Q q 0 0 0 rg BT 176.16 357.05 Td (direct-to-home ) Tj ET Q q 0 0 0 rg BT 225.78 357.05 Td (broadcasters ) Tj ET Q q 0 0 0 rg BT 267.84 357.05 Td (are ) Tj ET Q q 0 0 0 rg BT 279.69 357.05 Td (recognized ) Tj ET Q q 0 0 0 rg BT 316.86 357.05 Td (as ) Tj ET Q q 0 0 0 rg BT 325.61 357.05 Td (revenue ) Tj ET Q q 0 0 0 rg BT 353.01 357.05 Td (over ) Tj ET Q q 0 0 0 rg BT 369.31 357.05 Td (the ) Tj ET Q q 0 0 0 rg BT 381.16 357.05 Td (period ) Tj ET Q q 0 0 0 rg BT 403.68 357.05 Td (for ) Tj ET Q q 0 0 0 rg BT 415.09 357.05 Td (which ) Tj ET Q q 0 0 0 rg BT 436.73 357.05 Td (the ) Tj ET Q q 0 0 0 rg BT 448.58 357.05 Td (channels ) Tj ET Q q 0 0 0 rg BT 478.66 357.05 Td (are ) Tj ET Q q 0 0 0 rg BT 490.50 357.05 Td (provided ) Tj ET Q q 0 0 0 rg BT 521.02 357.05 Td (and ) Tj ET Q q 0 0 0 rg BT 534.66 357.05 Td (to ) Tj ET Q q 0 0 0 rg BT 542.96 357.05 Td (which ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 347.45 Td (the ) Tj ET Q q 0 0 0 rg BT 61.27 347.45 Td (fees ) Tj ET Q q 0 0 0 rg BT 76.15 347.45 Td (relate. ) Tj ET Q q 0 0 0 rg BT 97.91 347.45 Td (Subscriber ) Tj ET Q q 0 0 0 rg BT 134.13 347.45 Td (revenue ) Tj ET Q q 0 0 0 rg BT 161.45 347.45 Td (is ) Tj ET Q q 0 0 0 rg BT 168.78 347.45 Td (recognized ) Tj ET Q q 0 0 0 rg BT 205.87 347.45 Td (as ) Tj ET Q q 0 0 0 rg BT 214.54 347.45 Td (contracted, ) Tj ET Q q 0 0 0 rg BT 251.85 347.45 Td (based ) Tj ET Q q 0 0 0 rg BT 272.06 347.45 Td (upon ) Tj ET Q q 0 0 0 rg BT 290.06 347.45 Td (the ) Tj ET Q q 0 0 0 rg BT 301.84 347.45 Td (number ) Tj ET Q q 0 0 0 rg BT 328.27 347.45 Td (of ) Tj ET Q q 0 0 0 rg BT 336.94 347.45 Td (subscribers.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 328.85 Td (Barter ) Tj ET Q q 0 0 0 rg BT 72.39 328.85 Td (transactions) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 313.25 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 313.25 Td (e ) Tj ET Q q 0 0 0 rg BT 61.50 313.25 Td (enter ) Tj ET Q q 0 0 0 rg BT 79.02 313.25 Td (into ) Tj ET Q q 0 0 0 rg BT 93.01 313.25 Td (barter ) Tj ET Q q 0 0 0 rg BT 113.20 313.25 Td (transactions ) Tj ET Q q 0 0 0 rg BT 152.94 313.25 Td (which ) Tj ET Q q 0 0 0 rg BT 174.03 313.25 Td (represent ) Tj ET Q q 0 0 0 rg BT 204.88 313.25 Td (advertising ) Tj ET Q q 0 0 0 rg BT 241.97 313.25 Td (time ) Tj ET Q q 0 0 0 rg BT 257.72 313.25 Td (or ) Tj ET Q q 0 0 0 rg BT 265.93 313.25 Td (other ) Tj ET Q q 0 0 0 rg BT 283.90 313.25 Td (services ) Tj ET Q q 0 0 0 rg BT 311.20 313.25 Td (exchanged ) Tj ET Q q 0 0 0 rg BT 346.94 313.25 Td (for ) Tj ET Q q 0 0 0 rg BT 357.81 313.25 Td (non-cash ) Tj ET Q q 0 0 0 rg BT 388.22 313.25 Td (goods ) Tj ET Q q 0 0 0 rg BT 408.88 313.25 Td (and/or ) Tj ET Q q 0 0 0 rg BT 430.85 313.25 Td (other ) Tj ET Q q 0 0 0 rg BT 448.82 313.25 Td (services, ) Tj ET Q q 0 0 0 rg BT 478.13 313.25 Td (such ) Tj ET Q q 0 0 0 rg BT 494.33 313.25 Td (as ) Tj ET Q q 0 0 0 rg BT 502.53 313.25 Td (promotional ) Tj ET Q q 0 0 0 rg BT 543.17 313.25 Td (items, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 303.65 Td (advertising, ) Tj ET Q q 0 0 0 rg BT 89.16 303.65 Td (supplies ) Tj ET Q q 0 0 0 rg BT 117.50 303.65 Td (and ) Tj ET Q q 0 0 0 rg BT 131.17 303.65 Td (equipment. ) Tj ET Q q 0 0 0 rg BT 169.05 303.65 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 199.15 303.65 Td (from ) Tj ET Q q 0 0 0 rg BT 216.82 303.65 Td (barter ) Tj ET Q q 0 0 0 rg BT 237.59 303.65 Td (transactions ) Tj ET Q q 0 0 0 rg BT 277.91 303.65 Td (is ) Tj ET Q q 0 0 0 rg BT 285.37 303.65 Td (recognized ) Tj ET Q q 0 0 0 rg BT 322.57 303.65 Td (as ) Tj ET Q q 0 0 0 rg BT 331.35 303.65 Td (income ) Tj ET Q q 0 0 0 rg BT 357.01 303.65 Td (when ) Tj ET Q q 0 0 0 rg BT 376.46 303.65 Td (the ) Tj ET Q q 0 0 0 rg BT 388.34 303.65 Td (services ) Tj ET Q q 0 0 0 rg BT 416.22 303.65 Td (have ) Tj ET Q q 0 0 0 rg BT 433.44 303.65 Td (been ) Tj ET Q q 0 0 0 rg BT 450.66 303.65 Td (provided. ) Tj ET Q q 0 0 0 rg BT 483.21 303.65 Td (Expenses ) Tj ET Q q 0 0 0 rg BT 515.54 303.65 Td (are ) Tj ET Q q 0 0 0 rg BT 527.42 303.65 Td (recognized ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 294.05 Td (when ) Tj ET Q q 0 0 0 rg BT 68.69 294.05 Td (goods ) Tj ET Q q 0 0 0 rg BT 89.66 294.05 Td (or ) Tj ET Q q 0 0 0 rg BT 98.18 294.05 Td (services ) Tj ET Q q 0 0 0 rg BT 125.80 294.05 Td (are ) Tj ET Q q 0 0 0 rg BT 137.42 294.05 Td (received ) Tj ET Q q 0 0 0 rg BT 166.37 294.05 Td (or ) Tj ET Q q 0 0 0 rg BT 174.89 294.05 Td (used. ) Tj ET Q q 0 0 0 rg BT 193.28 294.05 Td (W) Tj ET Q q 0 0 0 rg BT 200.19 294.05 Td (e ) Tj ET Q q 0 0 0 rg BT 205.60 294.05 Td (record ) Tj ET Q q 0 0 0 rg BT 227.89 294.05 Td (barter ) Tj ET Q q 0 0 0 rg BT 248.40 294.05 Td (transactions ) Tj ET Q q 0 0 0 rg BT 288.46 294.05 Td (at ) Tj ET Q q 0 0 0 rg BT 296.09 294.05 Td (the ) Tj ET Q q 0 0 0 rg BT 307.73 294.05 Td (fair ) Tj ET Q q 0 0 0 rg BT 320.68 294.05 Td (value ) Tj ET Q q 0 0 0 rg BT 339.87 294.05 Td (of ) Tj ET Q q 0 0 0 rg BT 348.39 294.05 Td (goods ) Tj ET Q q 0 0 0 rg BT 369.36 294.05 Td (or ) Tj ET Q q 0 0 0 rg BT 377.88 294.05 Td (services ) Tj ET Q q 0 0 0 rg BT 405.50 294.05 Td (received ) Tj ET Q q 0 0 0 rg BT 434.45 294.05 Td (or ) Tj ET Q q 0 0 0 rg BT 442.97 294.05 Td (advertising ) Tj ET Q q 0 0 0 rg BT 480.38 294.05 Td (surrendered, ) Tj ET Q q 0 0 0 rg BT 521.99 294.05 Td (whichever ) Tj ET Q q 0 0 0 rg BT 557.16 294.05 Td (is ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 284.45 Td (more ) Tj ET Q q 0 0 0 rg BT 67.76 284.45 Td (readily ) Tj ET Q q 0 0 0 rg BT 91.80 284.45 Td (determinable. ) Tj ET Q q 0 0 0 rg BT 137.38 284.45 Td (Barter ) Tj ET Q q 0 0 0 rg BT 159.19 284.45 Td (revenue ) Tj ET Q q 0 0 0 rg BT 186.33 284.45 Td (amounted ) Tj ET Q q 0 0 0 rg BT 219.70 284.45 Td (to ) Tj ET Q q 0 0 0 rg BT 227.75 284.45 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 243.80 284.45 Td (1.5 ) Tj ET Q q 0 0 0 rg BT 255.63 284.45 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.74 284.45 Td (, ) Tj ET Q q 0 0 0 rg BT 282.56 284.45 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.61 284.45 Td (2.2 ) Tj ET Q q 0 0 0 rg BT 310.44 284.45 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.55 284.45 Td ( ) Tj ET Q q 0 0 0 rg BT 335.38 284.45 Td (and ) Tj ET Q q 0 0 0 rg BT 348.75 284.45 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 364.80 284.45 Td (2.5 ) Tj ET Q q 0 0 0 rg BT 376.63 284.45 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.74 284.45 Td ( ) Tj ET Q q 0 0 0 rg BT 401.56 284.45 Td (for ) Tj ET Q q 0 0 0 rg BT 412.71 284.45 Td (the ) Tj ET Q q 0 0 0 rg BT 424.31 284.45 Td (years ) Tj ET Q q 0 0 0 rg BT 443.02 284.45 Td (ending ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.61 284.45 Td (December31, ) Tj ET Q q 0 0 0 rg BT 513.30 284.45 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.30 284.45 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.13 284.45 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 549.13 284.45 Td ( ) Tj ET Q q 0 0 0 rg BT 550.95 284.45 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 274.85 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.50 274.85 Td (, ) Tj ET Q q 0 0 0 rg BT 69.50 274.85 Td (respectively) Tj ET Q q 0 0 0 rg BT 107.63 274.85 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 256.25 Td (Cash ) Tj ET Q q 0 0 0 rg BT 68.84 256.25 Td (and ) Tj ET Q q 0 0 0 rg BT 83.74 256.25 Td (Cash ) Tj ET Q q 0 0 0 rg BT 103.08 256.25 Td (Equivalents) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 240.65 Td (Cash ) Tj ET Q q 0 0 0 rg BT 67.42 240.65 Td (and ) Tj ET Q q 0 0 0 rg BT 80.88 240.65 Td (cash ) Tj ET Q q 0 0 0 rg BT 97.01 240.65 Td (equivalents ) Tj ET Q q 0 0 0 rg BT 135.36 240.65 Td (consist ) Tj ET Q q 0 0 0 rg BT 159.50 240.65 Td (of ) Tj ET Q q 0 0 0 rg BT 168.08 240.65 Td (cash ) Tj ET Q q 0 0 0 rg BT 184.21 240.65 Td (on ) Tj ET Q q 0 0 0 rg BT 194.12 240.65 Td (hand ) Tj ET Q q 0 0 0 rg BT 211.59 240.65 Td (and ) Tj ET Q q 0 0 0 rg BT 225.05 240.65 Td (marketable ) Tj ET Q q 0 0 0 rg BT 262.50 240.65 Td (securities ) Tj ET Q q 0 0 0 rg BT 294.63 240.65 Td (with ) Tj ET Q q 0 0 0 rg BT 310.77 240.65 Td (original ) Tj ET Q q 0 0 0 rg BT 337.56 240.65 Td (maturities ) Tj ET Q q 0 0 0 rg BT 371.47 240.65 Td (of ) Tj ET Q q 0 0 0 rg BT 380.05 240.65 Td (three ) Tj ET Q q 0 0 0 rg BT 397.95 240.65 Td (months ) Tj ET Q q 0 0 0 rg BT 423.43 240.65 Td (or ) Tj ET Q q 0 0 0 rg BT 432.01 240.65 Td (less. ) Tj ET Q q 0 0 0 rg BT 447.92 240.65 Td (Cash ) Tj ET Q q 0 0 0 rg BT 465.84 240.65 Td (that ) Tj ET Q q 0 0 0 rg BT 479.75 240.65 Td (is ) Tj ET Q q 0 0 0 rg BT 487.00 240.65 Td (subject ) Tj ET Q q 0 0 0 rg BT 511.57 240.65 Td (to ) Tj ET Q q 0 0 0 rg BT 519.71 240.65 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 557.17 240.65 Td (is ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 231.05 Td (classified ) Tj ET Q q 0 0 0 rg BT 81.71 231.05 Td (as ) Tj ET Q q 0 0 0 rg BT 90.38 231.05 Td (restricted ) Tj ET Q q 0 0 0 rg BT 122.14 231.05 Td (cash.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 212.45 Td (Pr) Tj ET Q q 0 0 0 rg BT 57.79 212.45 Td (ogram ) Tj ET Q q 0 0 0 rg BT 82.01 212.45 Td (Rights) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 193.85 Td (Pur) Tj ET Q q 0 0 0 rg BT 61.20 193.85 Td (chased ) Tj ET Q q 0 0 0 rg BT 85.42 193.85 Td (pr) Tj ET Q q 0 0 0 rg BT 92.23 193.85 Td (ogram ) Tj ET Q q 0 0 0 rg BT 115.13 193.85 Td (rights) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 178.25 Td (Purchased ) Tj ET Q q 0 0 0 rg BT 84.33 178.25 Td (program ) Tj ET Q q 0 0 0 rg BT 113.38 178.25 Td (rights ) Tj ET Q q 0 0 0 rg BT 133.55 178.25 Td (and ) Tj ET Q q 0 0 0 rg BT 147.05 178.25 Td (the ) Tj ET Q q 0 0 0 rg BT 158.77 178.25 Td (related ) Tj ET Q q 0 0 0 rg BT 182.48 178.25 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 214.20 178.25 Td (are ) Tj ET Q q 0 0 0 rg BT 225.91 178.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 255.84 178.25 Td (at ) Tj ET Q q 0 0 0 rg BT 263.56 178.25 Td (their ) Tj ET Q q 0 0 0 rg BT 280.17 178.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 299.01 178.25 Td (value ) Tj ET Q q 0 0 0 rg BT 318.28 178.25 Td (when ) Tj ET Q q 0 0 0 rg BT 337.56 178.25 Td (the ) Tj ET Q q 0 0 0 rg BT 349.28 178.25 Td (license ) Tj ET Q q 0 0 0 rg BT 373.44 178.25 Td (period ) Tj ET Q q 0 0 0 rg BT 395.83 178.25 Td (begins ) Tj ET Q q 0 0 0 rg BT 418.66 178.25 Td (and ) Tj ET Q q 0 0 0 rg BT 432.16 178.25 Td (the ) Tj ET Q q 0 0 0 rg BT 443.88 178.25 Td (programs ) Tj ET Q q 0 0 0 rg BT 476.05 178.25 Td (are ) Tj ET Q q 0 0 0 rg BT 487.76 178.25 Td (available ) Tj ET Q q 0 0 0 rg BT 518.58 178.25 Td (for ) Tj ET Q q 0 0 0 rg BT 529.86 178.25 Td (broadcast.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 162.65 Td (Purchased ) Tj ET Q q 0 0 0 rg BT 83.99 162.65 Td (program ) Tj ET Q q 0 0 0 rg BT 112.69 162.65 Td (rights ) Tj ET Q q 0 0 0 rg BT 132.52 162.65 Td (are ) Tj ET Q q 0 0 0 rg BT 143.89 162.65 Td (classified ) Tj ET Q q 0 0 0 rg BT 175.71 162.65 Td (as ) Tj ET Q q 0 0 0 rg BT 183.98 162.65 Td (current ) Tj ET Q q 0 0 0 rg BT 208.24 162.65 Td (or ) Tj ET Q q 0 0 0 rg BT 216.51 162.65 Td (non-current ) Tj ET Q q 0 0 0 rg BT 255.43 162.65 Td (assets ) Tj ET Q q 0 0 0 rg BT 275.71 162.65 Td (based ) Tj ET Q q 0 0 0 rg BT 295.53 162.65 Td (on ) Tj ET Q q 0 0 0 rg BT 305.13 162.65 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 341.83 162.65 Td (usage, ) Tj ET Q q 0 0 0 rg BT 363.65 162.65 Td (while ) Tj ET Q q 0 0 0 rg BT 383.03 162.65 Td (the ) Tj ET Q q 0 0 0 rg BT 394.41 162.65 Td (related ) Tj ET Q q 0 0 0 rg BT 417.78 162.65 Td (program ) Tj ET Q q 0 0 0 rg BT 446.49 162.65 Td (rights ) Tj ET Q q 0 0 0 rg BT 466.32 162.65 Td (liability ) Tj ET Q q 0 0 0 rg BT 492.81 162.65 Td (is ) Tj ET Q q 0 0 0 rg BT 499.75 162.65 Td (classified ) Tj ET Q q 0 0 0 rg BT 531.57 162.65 Td (as ) Tj ET Q q 0 0 0 rg BT 539.84 162.65 Td (current ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 153.05 Td (or ) Tj ET Q q 0 0 0 rg BT 58.16 153.05 Td (non-current ) Tj ET Q q 0 0 0 rg BT 97.48 153.05 Td (according ) Tj ET Q q 0 0 0 rg BT 131.02 153.05 Td (to ) Tj ET Q q 0 0 0 rg BT 139.24 153.05 Td (the ) Tj ET Q q 0 0 0 rg BT 151.02 153.05 Td (payment ) Tj ET Q q 0 0 0 rg BT 180.56 153.05 Td (terms ) Tj ET Q q 0 0 0 rg BT 200.34 153.05 Td (of ) Tj ET Q q 0 0 0 rg BT 209.00 153.05 Td (the ) Tj ET Q q 0 0 0 rg BT 220.77 153.05 Td (license ) Tj ET Q q 0 0 0 rg BT 244.98 153.05 Td (agreement.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 137.45 Td (Program ) Tj ET Q q 0 0 0 rg BT 78.64 137.45 Td (rights ) Tj ET Q q 0 0 0 rg BT 98.46 137.45 Td (are ) Tj ET Q q 0 0 0 rg BT 109.82 137.45 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 142.06 137.45 Td (to ) Tj ET Q q 0 0 0 rg BT 149.88 137.45 Td (determine ) Tj ET Q q 0 0 0 rg BT 183.46 137.45 Td (if ) Tj ET Q q 0 0 0 rg BT 189.94 137.45 Td (expected ) Tj ET Q q 0 0 0 rg BT 219.96 137.45 Td (revenues ) Tj ET Q q 0 0 0 rg BT 249.98 137.45 Td (are ) Tj ET Q q 0 0 0 rg BT 261.34 137.45 Td (suf) Tj ET Q q 0 0 0 rg BT 270.97 137.45 Td (ficient ) Tj ET Q q 0 0 0 rg BT 293.00 137.45 Td (to ) Tj ET Q q 0 0 0 rg BT 300.82 137.45 Td (cover ) Tj ET Q q 0 0 0 rg BT 320.18 137.45 Td (the ) Tj ET Q q 0 0 0 rg BT 331.54 137.45 Td (unamortized ) Tj ET Q q 0 0 0 rg BT 373.12 137.45 Td (portion ) Tj ET Q q 0 0 0 rg BT 397.82 137.45 Td (of ) Tj ET Q q 0 0 0 rg BT 406.08 137.45 Td (the ) Tj ET Q q 0 0 0 rg BT 417.45 137.45 Td (program. ) Tj ET Q q 0 0 0 rg BT 448.03 137.45 Td (T) Tj ET Q q 0 0 0 rg BT 452.36 137.45 Td (o ) Tj ET Q q 0 0 0 rg BT 457.95 137.45 Td (the ) Tj ET Q q 0 0 0 rg BT 469.32 137.45 Td (extent ) Tj ET Q q 0 0 0 rg BT 490.46 137.45 Td (that ) Tj ET Q q 0 0 0 rg BT 504.05 137.45 Td (expected ) Tj ET Q q 0 0 0 rg BT 534.07 137.45 Td (revenues ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 127.85 Td (are ) Tj ET Q q 0 0 0 rg BT 61.30 127.85 Td (insuf) Tj ET Q q 0 0 0 rg BT 77.16 127.85 Td (ficient, ) Tj ET Q q 0 0 0 rg BT 101.63 127.85 Td (the ) Tj ET Q q 0 0 0 rg BT 113.45 127.85 Td (program ) Tj ET Q q 0 0 0 rg BT 142.59 127.85 Td (rights ) Tj ET Q q 0 0 0 rg BT 162.85 127.85 Td (are ) Tj ET Q q 0 0 0 rg BT 174.65 127.85 Td (written ) Tj ET Q q 0 0 0 rg BT 199.35 127.85 Td (down ) Tj ET Q q 0 0 0 rg BT 219.17 127.85 Td (to ) Tj ET Q q 0 0 0 rg BT 227.43 127.85 Td (their ) Tj ET Q q 0 0 0 rg BT 244.13 127.85 Td (expected ) Tj ET Q q 0 0 0 rg BT 274.59 127.85 Td (net ) Tj ET Q q 0 0 0 rg BT 286.41 127.85 Td (realizable ) Tj ET Q q 0 0 0 rg BT 319.53 127.85 Td (value. ) Tj ET Q q 0 0 0 rg BT 340.89 127.85 Td (Our ) Tj ET Q q 0 0 0 rg BT 355.38 127.85 Td (analyses ) Tj ET Q q 0 0 0 rg BT 384.52 127.85 Td (of ) Tj ET Q q 0 0 0 rg BT 393.22 127.85 Td (our ) Tj ET Q q 0 0 0 rg BT 405.92 127.85 Td (acquired ) Tj ET Q q 0 0 0 rg BT 435.50 127.85 Td (program ) Tj ET Q q 0 0 0 rg BT 464.64 127.85 Td (library ) Tj ET Q q 0 0 0 rg BT 488.00 127.85 Td (during) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.89 127.85 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.89 127.85 Td ( ) Tj ET Q q 0 0 0 rg BT 528.93 127.85 Td (resulted ) Tj ET Q q 0 0 0 rg BT 556.29 127.85 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 118.25 Td (programming ) Tj ET Q q 0 0 0 rg BT 95.58 118.25 Td (impairment ) Tj ET Q q 0 0 0 rg BT 134.98 118.25 Td (char) Tj ET Q q 0 0 0 rg BT 148.61 118.25 Td (ges ) Tj ET Q q 0 0 0 rg BT 161.80 118.25 Td (of ) Tj ET Q q 0 0 0 rg BT 170.99 118.25 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 187.75 118.25 Td (6.4 ) Tj ET Q q 0 0 0 rg BT 200.28 118.25 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 223.39 118.25 Td (. ) Tj ET Q q 0 0 0 rg BT 227.74 118.25 Td (These ) Tj ET Q q 0 0 0 rg BT 249.37 118.25 Td (programming ) Tj ET Q q 0 0 0 rg BT 295.44 118.25 Td (impairment ) Tj ET Q q 0 0 0 rg BT 334.85 118.25 Td (char) Tj ET Q q 0 0 0 rg BT 348.47 118.25 Td (ges, ) Tj ET Q q 0 0 0 rg BT 363.67 118.25 Td (along ) Tj ET Q q 0 0 0 rg BT 383.97 118.25 Td (with ) Tj ET Q q 0 0 0 rg BT 400.72 118.25 Td (programming ) Tj ET Q q 0 0 0 rg BT 446.80 118.25 Td (impairment ) Tj ET Q q 0 0 0 rg BT 486.21 118.25 Td (char) Tj ET Q q 0 0 0 rg BT 499.83 118.25 Td (ges ) Tj ET Q q 0 0 0 rg BT 513.02 118.25 Td (related ) Tj ET Q q 0 0 0 rg BT 537.31 118.25 Td (to ) Tj ET Q q 0 0 0 rg BT 546.06 118.25 Td (own-) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 108.65 Td (produced ) Tj ET Q q 0 0 0 rg BT 81.27 108.65 Td (content, ) Tj ET Q q 0 0 0 rg BT 108.81 108.65 Td (are ) Tj ET Q q 0 0 0 rg BT 120.58 108.65 Td (presented ) Tj ET Q q 0 0 0 rg BT 153.23 108.65 Td (as ) Tj ET Q q 0 0 0 rg BT 161.89 108.65 Td (a ) Tj ET Q q 0 0 0 rg BT 167.45 108.65 Td (component ) Tj ET Q q 0 0 0 rg BT 204.99 108.65 Td (of ) Tj ET Q q 0 0 0 rg BT 213.66 108.65 Td (content ) Tj ET Q q 0 0 0 rg BT 239.20 108.65 Td (costs ) Tj ET Q q 0 0 0 rg BT 257.20 108.65 Td (in ) Tj ET Q q 0 0 0 rg BT 265.43 108.65 Td (our ) Tj ET Q q 0 0 0 rg BT 278.09 108.65 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 320.52 108.65 Td (statements ) Tj ET Q q 0 0 0 rg BT 356.29 108.65 Td (of ) Tj ET Q q 0 0 0 rg BT 364.96 108.65 Td (operations ) Tj ET Q q 0 0 0 rg BT 400.28 108.65 Td (and ) Tj ET Q q 0 0 0 rg BT 413.83 108.65 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 464.26 108.65 Td (income.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 93.05 Td (The ) Tj ET Q q 0 0 0 rg BT 63.75 93.05 Td (costs ) Tj ET Q q 0 0 0 rg BT 81.55 93.05 Td (incurred ) Tj ET Q q 0 0 0 rg BT 110.01 93.05 Td (to ) Tj ET Q q 0 0 0 rg BT 118.04 93.05 Td (acquire ) Tj ET Q q 0 0 0 rg BT 143.39 93.05 Td (program ) Tj ET Q q 0 0 0 rg BT 172.30 93.05 Td (rights ) Tj ET Q q 0 0 0 rg BT 192.33 93.05 Td (are ) Tj ET Q q 0 0 0 rg BT 203.90 93.05 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 240.35 93.05 Td (and ) Tj ET Q q 0 0 0 rg BT 253.71 93.05 Td (amortized ) Tj ET Q q 0 0 0 rg BT 287.50 93.05 Td (over ) Tj ET Q q 0 0 0 rg BT 303.53 93.05 Td (their ) Tj ET Q q 0 0 0 rg BT 320.00 93.05 Td (expected ) Tj ET Q q 0 0 0 rg BT 350.23 93.05 Td (useful ) Tj ET Q q 0 0 0 rg BT 371.59 93.05 Td (lives ) Tj ET Q q 0 0 0 rg BT 388.50 93.05 Td (in ) Tj ET Q q 0 0 0 rg BT 396.53 93.05 Td (a ) Tj ET Q q 0 0 0 rg BT 401.89 93.05 Td (manner ) Tj ET Q q 0 0 0 rg BT 427.69 93.05 Td (which ) Tj ET Q q 0 0 0 rg BT 449.05 93.05 Td (reflects ) Tj ET Q q 0 0 0 rg BT 474.39 93.05 Td (the ) Tj ET Q q 0 0 0 rg BT 485.97 93.05 Td (pattern ) Tj ET Q q 0 0 0 rg BT 509.99 93.05 Td (we ) Tj ET Q q 0 0 0 rg BT 521.13 93.05 Td (expect ) Tj ET Q q 0 0 0 rg BT 543.81 93.05 Td (to ) Tj ET Q q 0 0 0 rg BT 551.84 93.05 Td (use ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 83.45 Td (and ) Tj ET Q q 0 0 0 rg BT 63.39 83.45 Td (benefit ) Tj ET Q q 0 0 0 rg BT 87.93 83.45 Td (from ) Tj ET Q q 0 0 0 rg BT 105.82 83.45 Td (the ) Tj ET Q q 0 0 0 rg BT 117.93 83.45 Td (programming. ) Tj ET Q q 0 0 0 rg BT 165.81 83.45 Td (If ) Tj ET Q q 0 0 0 rg BT 173.47 83.45 Td (the ) Tj ET Q q 0 0 0 rg BT 185.58 83.45 Td (initial ) Tj ET Q q 0 0 0 rg BT 206.58 83.45 Td (airing ) Tj ET Q q 0 0 0 rg BT 227.57 83.45 Td (of ) Tj ET Q q 0 0 0 rg BT 236.57 83.45 Td (content ) Tj ET Q q 0 0 0 rg BT 262.45 83.45 Td (allowed ) Tj ET Q q 0 0 0 rg BT 290.11 83.45 Td (by ) Tj ET Q q 0 0 0 rg BT 300.45 83.45 Td (a ) Tj ET Q q 0 0 0 rg BT 306.33 83.45 Td (license ) Tj ET Q q 0 0 0 rg BT 330.88 83.45 Td (is ) Tj ET Q q 0 0 0 rg BT 338.55 83.45 Td (expected ) Tj ET Q q 0 0 0 rg BT 369.31 83.45 Td (to ) Tj ET Q q 0 0 0 rg BT 377.87 83.45 Td (provide ) Tj ET Q q 0 0 0 rg BT 404.64 83.45 Td (more ) Tj ET Q q 0 0 0 rg BT 423.41 83.45 Td (value ) Tj ET Q q 0 0 0 rg BT 443.07 83.45 Td (than ) Tj ET Q q 0 0 0 rg BT 459.18 83.45 Td (subsequent ) Tj ET Q q 0 0 0 rg BT 497.07 83.45 Td (airings, ) Tj ET Q q 0 0 0 rg BT 523.18 83.45 Td (we ) Tj ET Q q 0 0 0 rg BT 534.84 83.45 Td (apply ) Tj ET Q q 0 0 0 rg BT 554.95 83.45 Td (an ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 73.85 Td (accelerated ) Tj ET Q q 0 0 0 rg BT 87.67 73.85 Td (method ) Tj ET Q q 0 0 0 rg BT 113.87 73.85 Td (of ) Tj ET Q q 0 0 0 rg BT 122.74 73.85 Td (amortization. ) Tj ET Q q 0 0 0 rg BT 167.21 73.85 Td (These ) Tj ET Q q 0 0 0 rg BT 188.52 73.85 Td (accelerated ) Tj ET Q q 0 0 0 rg BT 226.69 73.85 Td (methods ) Tj ET Q q 0 0 0 rg BT 256.00 73.85 Td (of ) Tj ET Q q 0 0 0 rg BT 264.87 73.85 Td (amortization ) Tj ET Q q 0 0 0 rg BT 307.50 73.85 Td (depend ) Tj ET Q q 0 0 0 rg BT 332.81 73.85 Td (on ) Tj ET Q q 0 0 0 rg BT 343.01 73.85 Td (the ) Tj ET Q q 0 0 0 rg BT 354.99 73.85 Td (estimated ) Tj ET Q q 0 0 0 rg BT 387.85 73.85 Td (number ) Tj ET Q q 0 0 0 rg BT 414.49 73.85 Td (of ) Tj ET Q q 0 0 0 rg BT 423.36 73.85 Td (runs ) Tj ET Q q 0 0 0 rg BT 439.34 73.85 Td (the ) Tj ET Q q 0 0 0 rg BT 451.32 73.85 Td (content ) Tj ET Q q 0 0 0 rg BT 477.07 73.85 Td (is ) Tj ET Q q 0 0 0 rg BT 484.61 73.85 Td (expected ) Tj ET Q q 0 0 0 rg BT 515.24 73.85 Td (to ) Tj ET Q q 0 0 0 rg BT 523.67 73.85 Td (receive, ) Tj ET Q q 0 0 0 rg BT 550.96 73.85 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 64.25 Td (are ) Tj ET Q q 0 0 0 rg BT 60.59 64.25 Td (determined ) Tj ET Q q 0 0 0 rg BT 97.89 64.25 Td (based ) Tj ET Q q 0 0 0 rg BT 117.43 64.25 Td (on ) Tj ET Q q 0 0 0 rg BT 126.75 64.25 Td (a ) Tj ET Q q 0 0 0 rg BT 131.62 64.25 Td (study ) Tj ET Q q 0 0 0 rg BT 150.27 64.25 Td (of ) Tj ET Q q 0 0 0 rg BT 158.26 64.25 Td (historical ) Tj ET Q q 0 0 0 rg BT 189.35 64.25 Td (results ) Tj ET Q q 0 0 0 rg BT 211.55 64.25 Td (for ) Tj ET Q q 0 0 0 rg BT 222.20 64.25 Td (similar ) Tj ET Q q 0 0 0 rg BT 245.74 64.25 Td (programming. ) Tj ET Q q 0 0 0 rg BT 292.61 64.25 Td (For ) Tj ET Q q 0 0 0 rg BT 305.04 64.25 Td (programming ) Tj ET Q q 0 0 0 rg BT 349.91 64.25 Td (that ) Tj ET Q q 0 0 0 rg BT 363.23 64.25 Td (is ) Tj ET Q q 0 0 0 rg BT 369.88 64.25 Td (not ) Tj ET Q q 0 0 0 rg BT 381.43 64.25 Td (advertising ) Tj ET Q q 0 0 0 rg BT 418.29 64.25 Td (supported, ) Tj ET Q q 0 0 0 rg BT 453.16 64.25 Td (each ) Tj ET Q q 0 0 0 rg BT 469.14 64.25 Td (program's ) Tj ET Q q 0 0 0 rg BT 502.11 64.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 519.43 64.25 Td (are ) Tj ET Q q 0 0 0 rg BT 530.52 64.25 Td (amortized ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 54.65 Td (on ) Tj ET Q q 0 0 0 rg BT 59.50 54.65 Td (a ) Tj ET Q q 0 0 0 rg BT 65.05 54.65 Td (straight-line ) Tj ET Q q 0 0 0 rg BT 105.71 54.65 Td (basis ) Tj ET Q q 0 0 0 rg BT 123.71 54.65 Td (over ) Tj ET Q q 0 0 0 rg BT 139.92 54.65 Td (the ) Tj ET Q q 0 0 0 rg BT 151.70 54.65 Td (license ) Tj ET Q q 0 0 0 rg BT 175.91 54.65 Td (period. ) Tj ET Q q 0 0 0 rg BT 200.34 54.65 Td (For ) Tj ET Q q 0 0 0 rg BT 213.46 54.65 Td (content ) Tj ET Q q 0 0 0 rg BT 239.00 54.65 Td (that ) Tj ET Q q 0 0 0 rg BT 253.00 54.65 Td (is ) Tj ET Q q 0 0 0 rg BT 260.34 54.65 Td (expected ) Tj ET Q q 0 0 0 rg BT 290.76 54.65 Td (to ) Tj ET Q q 0 0 0 rg BT 298.98 54.65 Td (be ) Tj ET Q q 0 0 0 rg BT 308.54 54.65 Td (aired ) Tj ET Q q 0 0 0 rg BT 326.52 54.65 Td (only ) Tj ET Q q 0 0 0 rg BT 342.75 54.65 Td (once, ) Tj ET Q q 0 0 0 rg BT 361.85 54.65 Td (the ) Tj ET Q q 0 0 0 rg BT 373.62 54.65 Td (entire ) Tj ET Q q 0 0 0 rg BT 393.83 54.65 Td (cost ) Tj ET Q q 0 0 0 rg BT 408.72 54.65 Td (is ) Tj ET Q q 0 0 0 rg BT 416.05 54.65 Td (recognized ) Tj ET Q q 0 0 0 rg BT 453.14 54.65 Td (as ) Tj ET Q q 0 0 0 rg BT 461.81 54.65 Td (expense ) Tj ET Q q 0 0 0 rg BT 489.57 54.65 Td (on ) Tj ET Q q 0 0 0 rg BT 499.57 54.65 Td (the ) Tj ET Q q 0 0 0 rg BT 511.35 54.65 Td (first ) Tj ET Q q 0 0 0 rg BT 526.23 54.65 Td (run.) Tj ET Q endstream endobj 105 0 obj <>] /Rotate 0 /Contents 106 0 R>> endobj 106 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (50) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 723.45 Td (Pr) Tj ET Q q 0 0 0 rg BT 57.20 723.45 Td (oduced ) Tj ET Q q 0 0 0 rg BT 82.30 723.45 Td (pr) Tj ET Q q 0 0 0 rg BT 89.12 723.45 Td (ogram ) Tj ET Q q 0 0 0 rg BT 112.01 723.45 Td (rights) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 707.85 Td (Program ) Tj ET Q q 0 0 0 rg BT 78.94 707.85 Td (rights ) Tj ET Q q 0 0 0 rg BT 99.05 707.85 Td (that ) Tj ET Q q 0 0 0 rg BT 112.94 707.85 Td (are ) Tj ET Q q 0 0 0 rg BT 124.60 707.85 Td (produced ) Tj ET Q q 0 0 0 rg BT 156.25 707.85 Td (by ) Tj ET Q q 0 0 0 rg BT 166.14 707.85 Td (us ) Tj ET Q q 0 0 0 rg BT 175.15 707.85 Td (consist ) Tj ET Q q 0 0 0 rg BT 199.26 707.85 Td (of ) Tj ET Q q 0 0 0 rg BT 207.82 707.85 Td (deferred ) Tj ET Q q 0 0 0 rg BT 236.35 707.85 Td (film ) Tj ET Q q 0 0 0 rg BT 251.57 707.85 Td (and ) Tj ET Q q 0 0 0 rg BT 265.02 707.85 Td (television ) Tj ET Q q 0 0 0 rg BT 298.01 707.85 Td (costs ) Tj ET Q q 0 0 0 rg BT 315.90 707.85 Td (including ) Tj ET Q q 0 0 0 rg BT 348.01 707.85 Td (direct ) Tj ET Q q 0 0 0 rg BT 368.11 707.85 Td (costs, ) Tj ET Q q 0 0 0 rg BT 388.00 707.85 Td (production ) Tj ET Q q 0 0 0 rg BT 424.55 707.85 Td (overhead ) Tj ET Q q 0 0 0 rg BT 455.76 707.85 Td (and ) Tj ET Q q 0 0 0 rg BT 469.20 707.85 Td (development ) Tj ET Q q 0 0 0 rg BT 512.41 707.85 Td (costs. ) Tj ET Q q 0 0 0 rg BT 532.17 707.85 Td (The ) Tj ET Q q 0 0 0 rg BT 546.50 707.85 Td (costs ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (are ) Tj ET Q q 0 0 0 rg BT 61.14 698.25 Td (stated ) Tj ET Q q 0 0 0 rg BT 81.67 698.25 Td (at ) Tj ET Q q 0 0 0 rg BT 89.32 698.25 Td (the ) Tj ET Q q 0 0 0 rg BT 100.96 698.25 Td (lower ) Tj ET Q q 0 0 0 rg BT 121.05 698.25 Td (of ) Tj ET Q q 0 0 0 rg BT 129.58 698.25 Td (cost, ) Tj ET Q q 0 0 0 rg BT 146.34 698.25 Td (less ) Tj ET Q q 0 0 0 rg BT 160.21 698.25 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 202.51 698.25 Td (amortization, ) Tj ET Q q 0 0 0 rg BT 246.81 698.25 Td (or ) Tj ET Q q 0 0 0 rg BT 255.35 698.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 268.32 698.25 Td (value. ) Tj ET Q q 0 0 0 rg BT 289.38 698.25 Td (The ) Tj ET Q q 0 0 0 rg BT 303.69 698.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 329.56 698.25 Td (of ) Tj ET Q q 0 0 0 rg BT 338.10 698.25 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 374.61 698.25 Td (production ) Tj ET Q q 0 0 0 rg BT 411.14 698.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 429.02 698.25 Td (recognized ) Tj ET Q q 0 0 0 rg BT 465.98 698.25 Td (as ) Tj ET Q q 0 0 0 rg BT 474.51 698.25 Td (cost ) Tj ET Q q 0 0 0 rg BT 489.27 698.25 Td (of ) Tj ET Q q 0 0 0 rg BT 497.81 698.25 Td (revenues ) Tj ET Q q 0 0 0 rg BT 528.11 698.25 Td (for ) Tj ET Q q 0 0 0 rg BT 539.31 698.25 Td (a ) Tj ET Q q 0 0 0 rg BT 544.73 698.25 Td (given ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 688.65 Td (production ) Tj ET Q q 0 0 0 rg BT 86.13 688.65 Td (as ) Tj ET Q q 0 0 0 rg BT 94.77 688.65 Td (it ) Tj ET Q q 0 0 0 rg BT 101.18 688.65 Td (is ) Tj ET Q q 0 0 0 rg BT 108.49 688.65 Td (exhibited ) Tj ET Q q 0 0 0 rg BT 140.23 688.65 Td (in ) Tj ET Q q 0 0 0 rg BT 148.43 688.65 Td (various ) Tj ET Q q 0 0 0 rg BT 173.95 688.65 Td (markets ) Tj ET Q q 0 0 0 rg BT 201.25 688.65 Td (is ) Tj ET Q q 0 0 0 rg BT 208.55 688.65 Td (determined ) Tj ET Q q 0 0 0 rg BT 246.51 688.65 Td (using ) Tj ET Q q 0 0 0 rg BT 265.82 688.65 Td (the ) Tj ET Q q 0 0 0 rg BT 277.56 688.65 Td (film ) Tj ET Q q 0 0 0 rg BT 292.87 688.65 Td (forecast ) Tj ET Q q 0 0 0 rg BT 320.15 688.65 Td (method. ) Tj ET Q q 0 0 0 rg BT 347.98 688.65 Td (The ) Tj ET Q q 0 0 0 rg BT 362.39 688.65 Td (proportion ) Tj ET Q q 0 0 0 rg BT 398.13 688.65 Td (of ) Tj ET Q q 0 0 0 rg BT 406.77 688.65 Td (costs ) Tj ET Q q 0 0 0 rg BT 424.74 688.65 Td (recognized ) Tj ET Q q 0 0 0 rg BT 461.80 688.65 Td (is ) Tj ET Q q 0 0 0 rg BT 469.11 688.65 Td (equal ) Tj ET Q q 0 0 0 rg BT 488.41 688.65 Td (to ) Tj ET Q q 0 0 0 rg BT 496.60 688.65 Td (the ) Tj ET Q q 0 0 0 rg BT 508.35 688.65 Td (proportion ) Tj ET Q q 0 0 0 rg BT 544.09 688.65 Td (of ) Tj ET Q q 0 0 0 rg BT 552.73 688.65 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 679.05 Td (revenue ) Tj ET Q q 0 0 0 rg BT 76.31 679.05 Td (recognized ) Tj ET Q q 0 0 0 rg BT 112.90 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ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 669.45 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 78.30 669.45 Td (revenues ) Tj ET Q q 0 0 0 rg BT 109.31 669.45 Td (is ) Tj ET Q q 0 0 0 rg BT 117.23 669.45 Td (tailored ) Tj ET Q q 0 0 0 rg BT 144.25 669.45 Td (to ) Tj ET Q q 0 0 0 rg BT 153.06 669.45 Td (the ) Tj ET Q q 0 0 0 rg BT 165.41 669.45 Td (potential ) Tj ET Q q 0 0 0 rg BT 195.99 669.45 Td (we ) Tj ET Q q 0 0 0 rg BT 207.90 669.45 Td (believe ) Tj ET Q q 0 0 0 rg BT 233.58 669.45 Td (a ) Tj ET Q q 0 0 0 rg BT 239.72 669.45 Td (title ) Tj ET Q q 0 0 0 rg BT 254.74 669.45 Td (has ) Tj ET Q q 0 0 0 rg BT 267.99 669.45 Td (for ) Tj ET Q q 0 0 0 rg BT 279.90 669.45 Td (generating ) Tj ET Q q 0 0 0 rg BT 316.25 669.45 Td (multiple ) Tj ET Q q 0 0 0 rg BT 345.50 669.45 Td (revenues. ) Tj ET Q q 0 0 0 rg BT 378.33 669.45 Td (The ) Tj ET Q q 0 0 0 rg BT 393.35 669.45 Td (majority ) Tj ET Q q 0 0 0 rg BT 423.04 669.45 Td (of ) Tj ET Q q 0 0 0 rg BT 432.28 669.45 Td (our ) Tj ET Q q 0 0 0 rg BT 445.53 669.45 Td (production ) Tj ET Q q 0 0 0 rg BT 482.78 669.45 Td (is ) Tj ET Q q 0 0 0 rg BT 490.70 669.45 Td (intended ) Tj ET Q q 0 0 0 rg BT 520.83 669.45 Td (primarily ) Tj ET Q q 0 0 0 rg BT 553.18 669.45 Td (for ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 659.85 Td (exploitation ) Tj ET Q q 0 0 0 rg BT 89.59 659.85 Td (by ) Tj ET Q q 0 0 0 rg BT 99.46 659.85 Td (our ) Tj ET Q q 0 0 0 rg BT 112.00 659.85 Td (own ) Tj ET Q q 0 0 0 rg BT 127.64 659.85 Td (broadcasters. ) Tj ET Q q 0 0 0 rg BT 171.50 659.85 Td (In ) Tj ET Q q 0 0 0 rg BT 180.03 659.85 Td (such ) Tj ET Q q 0 0 0 rg BT 196.57 659.85 Td (cases, ) Tj ET Q q 0 0 0 rg BT 217.32 659.85 Td (we ) Tj ET Q q 0 0 0 rg BT 228.52 659.85 Td (consider ) Tj ET Q q 0 0 0 rg BT 257.49 659.85 Td (mainly ) Tj ET Q q 0 0 0 rg BT 281.58 659.85 Td (the ) Tj ET Q q 0 0 0 rg BT 293.23 659.85 Td (free ) Tj ET Q q 0 0 0 rg BT 307.53 659.85 Td (television ) Tj ET Q q 0 0 0 rg BT 340.51 659.85 Td (window ) Tj ET Q q 0 0 0 rg BT 368.16 659.85 Td (in ) Tj ET Q q 0 0 0 rg BT 376.25 659.85 Td (our ) Tj ET Q q 0 0 0 rg BT 388.79 659.85 Td (calculation ) Tj ET Q q 0 0 0 rg BT 425.76 659.85 Td (of ) Tj ET Q q 0 0 0 rg BT 434.29 659.85 Td (the ) Tj ET Q q 0 0 0 rg BT 445.94 659.85 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 474.02 659.85 Td (revenues. ) Tj ET Q q 0 0 0 rg BT 506.33 659.85 Td (For ) Tj ET Q q 0 0 0 rg BT 519.31 659.85 Td (produced ) Tj ET Q q 0 0 0 rg BT 550.95 659.85 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 650.25 Td (acquired ) Tj ET Q q 0 0 0 rg BT 78.45 650.25 Td (feature ) Tj ET Q q 0 0 0 rg BT 102.07 650.25 Td (films ) Tj ET Q q 0 0 0 rg BT 119.93 650.25 Td (or ) Tj ET Q q 0 0 0 rg BT 128.01 650.25 Td (other ) Tj ET Q q 0 0 0 rg BT 145.86 650.25 Td (projects ) Tj ET Q q 0 0 0 rg BT 172.60 650.25 Td (where ) Tj ET Q q 0 0 0 rg BT 193.56 650.25 Td (we ) Tj ET Q q 0 0 0 rg BT 204.30 650.25 Td (have ) Tj ET Q q 0 0 0 rg BT 220.82 650.25 Td (a ) Tj ET Q q 0 0 0 rg BT 225.79 650.25 Td (supportable ) Tj ET Q q 0 0 0 rg BT 264.53 650.25 Td (expectation ) Tj ET Q q 0 0 0 rg BT 302.81 650.25 Td (of ) Tj ET Q q 0 0 0 rg BT 310.89 650.25 Td (generating ) Tj ET Q q 0 0 0 rg BT 346.07 650.25 Td (multiple ) Tj ET Q q 0 0 0 rg BT 374.15 650.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 400.88 650.25 Td (streams, ) Tj ET Q q 0 0 0 rg BT 428.73 650.25 Td (we ) Tj ET Q q 0 0 0 rg BT 439.47 650.25 Td (base ) Tj ET Q q 0 0 0 rg BT 455.10 650.25 Td (our ) Tj ET Q q 0 0 0 rg BT 467.18 650.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 498.37 650.25 Td (of ) Tj ET Q q 0 0 0 rg BT 506.45 650.25 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 534.08 650.25 Td (revenues ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 640.65 Td (for ) Tj ET Q q 0 0 0 rg BT 60.75 640.65 Td (each ) Tj ET Q q 0 0 0 rg BT 77.33 640.65 Td (film ) Tj ET Q q 0 0 0 rg BT 92.58 640.65 Td (on ) Tj ET Q q 0 0 0 rg BT 102.51 640.65 Td (factors ) Tj ET Q q 0 0 0 rg BT 126.20 640.65 Td (such ) Tj ET Q q 0 0 0 rg BT 142.79 640.65 Td (as ) Tj ET Q q 0 0 0 rg BT 151.37 640.65 Td (the ) Tj ET Q q 0 0 0 rg BT 163.07 640.65 Td (historical ) Tj ET Q q 0 0 0 rg BT 194.76 640.65 Td (performance ) Tj ET Q q 0 0 0 rg BT 237.11 640.65 Td (of ) Tj ET Q q 0 0 0 rg BT 245.69 640.65 Td (similar ) Tj ET Q q 0 0 0 rg BT 269.84 640.65 Td (films, ) Tj ET Q q 0 0 0 rg BT 290.21 640.65 Td (the ) Tj ET Q q 0 0 0 rg BT 301.90 640.65 Td (star ) Tj ET Q q 0 0 0 rg BT 315.38 640.65 Td (power ) Tj ET Q q 0 0 0 rg BT 337.29 640.65 Td (of ) Tj ET Q q 0 0 0 rg BT 345.88 640.65 Td (the ) Tj ET Q q 0 0 0 rg BT 357.58 640.65 Td (actors ) Tj ET Q q 0 0 0 rg BT 378.60 640.65 Td (and ) Tj ET Q q 0 0 0 rg BT 392.08 640.65 Td (actresses, ) Tj ET Q q 0 0 0 rg BT 424.43 640.65 Td (the ) Tj ET Q q 0 0 0 rg BT 436.13 640.65 Td (rating ) Tj ET Q q 0 0 0 rg BT 456.71 640.65 Td (and ) Tj ET Q q 0 0 0 rg BT 470.19 640.65 Td (genre ) Tj ET Q q 0 0 0 rg BT 489.88 640.65 Td (of ) Tj ET Q q 0 0 0 rg BT 498.46 640.65 Td (the ) Tj ET Q q 0 0 0 rg BT 510.16 640.65 Td (film, ) Tj ET Q q 0 0 0 rg BT 527.42 640.65 Td (pre-release ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 631.05 Td (market ) Tj ET Q q 0 0 0 rg BT 73.74 631.05 Td (research ) Tj ET Q q 0 0 0 rg BT 102.41 631.05 Td (\(including ) Tj ET Q q 0 0 0 rg BT 137.32 631.05 Td (test ) Tj ET Q q 0 0 0 rg BT 150.46 631.05 Td (market ) Tj ET Q q 0 0 0 rg BT 174.70 631.05 Td (screenings\) ) Tj ET Q q 0 0 0 rg BT 213.16 631.05 Td (and ) Tj ET Q q 0 0 0 rg BT 226.74 631.05 Td (the ) Tj ET Q q 0 0 0 rg BT 238.54 631.05 Td (expected ) Tj ET Q q 0 0 0 rg BT 268.99 631.05 Td (number ) Tj ET Q q 0 0 0 rg BT 295.46 631.05 Td (of ) Tj ET Q q 0 0 0 rg BT 304.15 631.05 Td (theaters ) Tj ET Q q 0 0 0 rg BT 331.05 631.05 Td (in ) Tj ET Q q 0 0 0 rg BT 339.31 631.05 Td (which ) Tj ET Q q 0 0 0 rg BT 360.88 631.05 Td (the ) Tj ET Q q 0 0 0 rg BT 372.69 631.05 Td (film ) Tj ET Q q 0 0 0 rg BT 388.05 631.05 Td (will ) Tj ET Q q 0 0 0 rg BT 402.52 631.05 Td (be ) Tj ET Q q 0 0 0 rg BT 412.10 631.05 Td (released. ) Tj ET Q q 0 0 0 rg BT 442.18 631.05 Td (These ) Tj ET Q q 0 0 0 rg BT 463.31 631.05 Td (estimates ) Tj ET Q q 0 0 0 rg BT 495.11 631.05 Td (are ) Tj ET Q q 0 0 0 rg BT 506.91 631.05 Td (updated ) Tj ET Q q 0 0 0 rg BT 534.26 631.05 Td (based ) Tj ET Q q 0 0 0 rg BT 554.50 631.05 Td (on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 621.45 Td (information ) Tj ET Q q 0 0 0 rg BT 89.27 621.45 Td (available ) Tj ET Q q 0 0 0 rg BT 120.14 621.45 Td (on ) Tj ET Q q 0 0 0 rg BT 130.14 621.45 Td (the ) Tj ET Q q 0 0 0 rg BT 141.91 621.45 Td (progress ) Tj ET Q q 0 0 0 rg BT 171.02 621.45 Td (of ) Tj ET Q q 0 0 0 rg BT 179.68 621.45 Td (the ) Tj ET Q q 0 0 0 rg BT 191.46 621.45 Td (film's ) Tj ET Q q 0 0 0 rg BT 211.34 621.45 Td (production ) Tj ET Q q 0 0 0 rg BT 248.00 621.45 Td (and ) Tj ET Q q 0 0 0 rg BT 261.55 621.45 Td (upon ) Tj ET Q q 0 0 0 rg BT 279.55 621.45 Td (release, ) Tj ET Q q 0 0 0 rg BT 305.76 621.45 Td (the ) Tj ET Q q 0 0 0 rg BT 317.53 621.45 Td (actual ) Tj ET Q q 0 0 0 rg BT 338.63 621.45 Td (results ) Tj ET Q q 0 0 0 rg BT 361.52 621.45 Td (of ) Tj ET Q q 0 0 0 rg BT 370.18 621.45 Td (each ) Tj ET Q q 0 0 0 rg BT 386.83 621.45 Td (film.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 605.85 Td (Produced ) Tj ET Q q 0 0 0 rg BT 81.29 605.85 Td (program ) Tj ET Q q 0 0 0 rg BT 109.96 605.85 Td (rights ) Tj ET Q q 0 0 0 rg BT 129.75 605.85 Td (are ) Tj ET Q q 0 0 0 rg BT 141.09 605.85 Td (amortized ) Tj ET Q q 0 0 0 rg BT 174.65 605.85 Td (on ) Tj ET Q q 0 0 0 rg BT 184.22 605.85 Td (an ) Tj ET Q q 0 0 0 rg BT 193.34 605.85 Td (individual ) Tj ET Q q 0 0 0 rg BT 227.35 605.85 Td (production ) Tj ET Q q 0 0 0 rg BT 263.58 605.85 Td (basis ) Tj ET Q q 0 0 0 rg BT 281.15 605.85 Td (using ) Tj ET Q q 0 0 0 rg BT 300.06 605.85 Td (the ) Tj ET Q q 0 0 0 rg BT 311.41 605.85 Td (ratio ) Tj ET Q q 0 0 0 rg BT 327.64 605.85 Td (of ) Tj ET Q q 0 0 0 rg BT 335.87 605.85 Td (the ) Tj ET Q q 0 0 0 rg BT 347.22 605.85 Td (current ) Tj ET Q q 0 0 0 rg BT 371.44 605.85 Td (period's ) Tj ET Q q 0 0 0 rg BT 398.00 605.85 Td (gross ) Tj ET Q q 0 0 0 rg BT 416.47 605.85 Td (revenues ) Tj ET Q q 0 0 0 rg BT 446.47 605.85 Td (to ) Tj ET Q q 0 0 0 rg BT 454.26 605.85 Td (estimated ) Tj ET Q q 0 0 0 rg BT 486.49 605.85 Td (remaining ) Tj ET Q q 0 0 0 rg BT 520.49 605.85 Td (total ) Tj ET Q q 0 0 0 rg BT 536.28 605.85 Td (ultimate ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 596.25 Td (revenues ) Tj ET Q q 0 0 0 rg BT 79.49 596.25 Td (from ) Tj ET Q q 0 0 0 rg BT 96.60 596.25 Td (such ) Tj ET Q q 0 0 0 rg BT 112.82 596.25 Td (programs. ) Tj ET Q q 0 0 0 rg BT 146.59 596.25 Td (Produced ) Tj ET Q q 0 0 0 rg BT 178.37 596.25 Td (program ) Tj ET Q q 0 0 0 rg BT 207.03 596.25 Td (rights ) Tj ET Q q 0 0 0 rg BT 226.81 596.25 Td (are ) Tj ET Q q 0 0 0 rg BT 238.13 596.25 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 270.34 596.25 Td (to ) Tj ET Q q 0 0 0 rg BT 278.12 596.25 Td (determine ) Tj ET Q q 0 0 0 rg BT 311.66 596.25 Td (if ) Tj ET Q q 0 0 0 rg BT 318.11 596.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 348.09 596.25 Td (revenues, ) Tj ET Q q 0 0 0 rg BT 380.08 596.25 Td (less ) Tj ET Q q 0 0 0 rg BT 393.64 596.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 427.19 596.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 444.75 596.25 Td (to ) Tj ET Q q 0 0 0 rg BT 452.53 596.25 Td (be ) Tj ET Q q 0 0 0 rg BT 461.64 596.25 Td (incurred ) Tj ET Q q 0 0 0 rg BT 489.85 596.25 Td (\(including ) Tj ET Q q 0 0 0 rg BT 524.29 596.25 Td (exploitation ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 586.65 Td (costs\) ) Tj ET Q q 0 0 0 rg BT 70.01 586.65 Td (are ) Tj ET Q q 0 0 0 rg BT 81.62 586.65 Td (suf) Tj ET Q q 0 0 0 rg BT 91.26 586.65 Td (ficient ) Tj ET Q q 0 0 0 rg BT 113.54 586.65 Td (to ) Tj ET Q q 0 0 0 rg BT 121.61 586.65 Td (cover ) Tj ET Q q 0 0 0 rg BT 141.22 586.65 Td (the ) Tj ET Q q 0 0 0 rg BT 152.84 586.65 Td (unamortized ) Tj ET Q q 0 0 0 rg BT 194.67 586.65 Td (portion ) Tj ET Q q 0 0 0 rg BT 219.63 586.65 Td (of ) Tj ET Q q 0 0 0 rg BT 228.14 586.65 Td (the ) Tj ET Q q 0 0 0 rg BT 239.76 586.65 Td (program. ) Tj ET Q q 0 0 0 rg BT 270.57 586.65 Td (T) Tj ET Q q 0 0 0 rg BT 274.90 586.65 Td (o ) Tj ET Q q 0 0 0 rg BT 280.75 586.65 Td (the ) Tj ET Q q 0 0 0 rg BT 292.37 586.65 Td (extent ) Tj ET Q q 0 0 0 rg BT 313.76 586.65 Td (that ) Tj ET Q q 0 0 0 rg BT 327.60 586.65 Td (expected ) Tj ET Q q 0 0 0 rg BT 357.87 586.65 Td (revenues ) Tj ET Q q 0 0 0 rg BT 388.15 586.65 Td (are ) Tj ET Q q 0 0 0 rg BT 399.76 586.65 Td (insuf) Tj ET Q q 0 0 0 rg BT 415.62 586.65 Td (ficient, ) Tj ET Q q 0 0 0 rg BT 439.90 586.65 Td (the ) Tj ET Q q 0 0 0 rg BT 451.52 586.65 Td (program ) Tj ET Q q 0 0 0 rg BT 480.47 586.65 Td (rights ) Tj ET Q q 0 0 0 rg BT 500.54 586.65 Td (are ) Tj ET Q q 0 0 0 rg BT 512.15 586.65 Td (written ) Tj ET Q q 0 0 0 rg BT 536.66 586.65 Td (down ) Tj ET Q q 0 0 0 rg BT 556.28 586.65 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 577.05 Td (their ) Tj ET Q q 0 0 0 rg BT 66.16 577.05 Td (fair ) Tj ET Q q 0 0 0 rg BT 79.26 577.05 Td (value. ) Tj ET Q q 0 0 0 rg BT 100.59 577.05 Td (Our ) Tj ET Q q 0 0 0 rg BT 115.03 577.05 Td (analyses ) Tj ET Q q 0 0 0 rg BT 144.13 577.05 Td (of ) Tj ET Q q 0 0 0 rg BT 152.79 577.05 Td (our ) Tj ET Q q 0 0 0 rg BT 165.46 577.05 Td (produced ) Tj ET Q q 0 0 0 rg BT 197.22 577.05 Td (program ) Tj ET Q q 0 0 0 rg BT 226.32 577.05 Td (rights ) Tj ET Q q 0 0 0 rg BT 246.55 577.05 Td (library ) Tj ET Q q 0 0 0 rg BT 269.87 577.05 Td (during2014 ) Tj ET Q q 0 0 0 rg BT 310.76 577.05 Td (resulted ) Tj ET Q q 0 0 0 rg BT 338.08 577.05 Td (in ) Tj ET Q q 0 0 0 rg BT 346.30 577.05 Td (programming ) Tj ET Q q 0 0 0 rg BT 391.85 577.05 Td (impairment ) Tj ET Q q 0 0 0 rg BT 430.73 577.05 Td (char) Tj ET Q q 0 0 0 rg BT 444.35 577.05 Td (ges ) Tj ET Q q 0 0 0 rg BT 457.02 577.05 Td (of ) Tj ET Q q 0 0 0 rg BT 465.68 577.05 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.91 577.05 Td (2.8 ) Tj ET Q q 0 0 0 rg BT 493.91 577.05 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 517.02 577.05 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 558.45 Td (Pr) Tj ET Q q 0 0 0 rg BT 57.79 558.45 Td (operty) Tj ET Q q 0 0 0 rg BT 79.57 558.45 Td (, ) Tj ET Q q 0 0 0 rg BT 83.57 558.45 Td (Plant ) Tj ET Q q 0 0 0 rg BT 103.79 558.45 Td (and ) Tj ET Q q 0 0 0 rg BT 118.69 558.45 Td (Equipment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 542.85 Td (Property) Tj ET Q q 0 0 0 rg BT 76.53 542.85 Td (, ) Tj ET Q q 0 0 0 rg BT 80.36 542.85 Td (plant ) Tj ET Q q 0 0 0 rg BT 98.18 542.85 Td (and ) Tj ET Q q 0 0 0 rg BT 111.56 542.85 Td (equipment ) Tj ET Q q 0 0 0 rg BT 147.15 542.85 Td (is ) Tj ET Q q 0 0 0 rg BT 154.31 542.85 Td (carried ) Tj ET Q q 0 0 0 rg BT 178.34 542.85 Td (at ) Tj ET Q q 0 0 0 rg BT 185.94 542.85 Td (cost, ) Tj ET Q q 0 0 0 rg BT 202.66 542.85 Td (less ) Tj ET Q q 0 0 0 rg BT 216.48 542.85 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 258.73 542.85 Td (depreciation. ) Tj ET Q q 0 0 0 rg BT 302.09 542.85 Td (Depreciation ) Tj ET Q q 0 0 0 rg BT 345.23 542.85 Td (is ) Tj ET Q q 0 0 0 rg BT 352.39 542.85 Td (computed ) Tj ET Q q 0 0 0 rg BT 385.77 542.85 Td (using ) Tj ET Q q 0 0 0 rg BT 404.93 542.85 Td (the ) Tj ET Q q 0 0 0 rg BT 416.53 542.85 Td (straight-line ) Tj ET Q q 0 0 0 rg BT 457.01 542.85 Td (method ) Tj ET Q q 0 0 0 rg BT 482.83 542.85 Td (over ) Tj ET Q q 0 0 0 rg BT 498.87 542.85 Td (the ) Tj ET Q q 0 0 0 rg BT 510.47 542.85 Td (estimated ) Tj ET Q q 0 0 0 rg BT 542.96 542.85 Td (useful ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 533.25 Td (lives ) Tj ET Q q 0 0 0 rg BT 66.61 533.25 Td (assigned ) Tj ET Q q 0 0 0 rg BT 96.16 533.25 Td (to ) Tj ET Q q 0 0 0 rg BT 104.38 533.25 Td (each ) Tj ET Q q 0 0 0 rg BT 121.04 533.25 Td (major ) Tj ET Q q 0 0 0 rg BT 141.70 533.25 Td (asset ) Tj ET Q q 0 0 0 rg BT 159.25 533.25 Td (category ) Tj ET Q q 0 0 0 rg BT 188.79 533.25 Td (as ) Tj ET Q q 0 0 0 rg BT 197.45 533.25 Td (below:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 501.75 401.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 501.75 112.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 471.75 401.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 471.75 112.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 441.75 401.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 441.75 112.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49 501.75 m 450 501.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 450 501.75 m 562 501.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 505.98 Td (Asset category) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.50 505.98 Td (Estimated useful life) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 491.00 Td (Land) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.50 491.00 Td (Indefinite) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 476.00 Td (Buildings) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.50 476.00 Td (25 years) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 461.00 Td (Machinery, fixtures and equipment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.50 461.00 Td (4 - 8 years) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 446.00 Td (Other equipment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.50 446.00 Td (3 - 8 years) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 431.00 Td (Software licenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.50 431.00 Td (3 - 5 years) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 411.65 Td (Construction-in-progress ) Tj ET Q q 0 0 0 rg BT 131.38 411.65 Td (is ) Tj ET Q q 0 0 0 rg BT 138.61 411.65 Td (not ) Tj ET Q q 0 0 0 rg BT 150.72 411.65 Td (depreciated ) Tj ET Q q 0 0 0 rg BT 189.47 411.65 Td (until ) Tj ET Q q 0 0 0 rg BT 206.03 411.65 Td (put ) Tj ET Q q 0 0 0 rg BT 218.14 411.65 Td (into ) Tj ET Q q 0 0 0 rg BT 232.48 411.65 Td (use. ) Tj ET Q q 0 0 0 rg BT 247.04 411.65 Td (Capital ) Tj ET Q q 0 0 0 rg BT 272.03 411.65 Td (leases ) Tj ET Q q 0 0 0 rg BT 293.02 411.65 Td (are ) Tj ET Q q 0 0 0 rg BT 304.68 411.65 Td (depreciated ) Tj ET Q q 0 0 0 rg BT 343.43 411.65 Td (on ) Tj ET Q q 0 0 0 rg BT 353.32 411.65 Td (a ) Tj ET Q q 0 0 0 rg BT 358.77 411.65 Td (straight-line ) Tj ET Q q 0 0 0 rg BT 399.31 411.65 Td (basis ) Tj ET Q q 0 0 0 rg BT 417.20 411.65 Td (over ) Tj ET Q q 0 0 0 rg BT 433.31 411.65 Td (the ) Tj ET Q q 0 0 0 rg BT 444.97 411.65 Td (shorter ) Tj ET Q q 0 0 0 rg BT 469.08 411.65 Td (of ) Tj ET Q q 0 0 0 rg BT 477.63 411.65 Td (the ) Tj ET Q q 0 0 0 rg BT 489.30 411.65 Td (estimated ) Tj ET Q q 0 0 0 rg BT 521.84 411.65 Td (useful ) Tj ET Q q 0 0 0 rg BT 543.29 411.65 Td (life ) Tj ET Q q 0 0 0 rg BT 555.84 411.65 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 402.05 Td (the ) Tj ET Q q 0 0 0 rg BT 61.29 402.05 Td (asset ) Tj ET Q q 0 0 0 rg BT 78.86 402.05 Td (or ) Tj ET Q q 0 0 0 rg BT 87.54 402.05 Td (the ) Tj ET Q q 0 0 0 rg BT 99.34 402.05 Td (lease ) Tj ET Q q 0 0 0 rg BT 117.34 402.05 Td (term. ) Tj ET Q q 0 0 0 rg BT 136.02 402.05 Td (Leasehold ) Tj ET Q q 0 0 0 rg BT 170.92 402.05 Td (improvements ) Tj ET Q q 0 0 0 rg BT 218.70 402.05 Td (are ) Tj ET Q q 0 0 0 rg BT 230.49 402.05 Td (depreciated ) Tj ET Q q 0 0 0 rg BT 269.37 402.05 Td (over ) Tj ET Q q 0 0 0 rg BT 285.60 402.05 Td (the ) Tj ET Q q 0 0 0 rg BT 297.39 402.05 Td (shorter ) Tj ET Q q 0 0 0 rg BT 321.63 402.05 Td (of ) Tj ET Q q 0 0 0 rg BT 330.31 402.05 Td (the ) Tj ET Q q 0 0 0 rg BT 342.10 402.05 Td (related ) Tj ET Q q 0 0 0 rg BT 365.88 402.05 Td (lease ) Tj ET Q q 0 0 0 rg BT 383.89 402.05 Td (term ) Tj ET Q q 0 0 0 rg BT 400.57 402.05 Td (or ) Tj ET Q q 0 0 0 rg BT 409.25 402.05 Td (the ) Tj ET Q q 0 0 0 rg BT 421.04 402.05 Td (life ) Tj ET Q q 0 0 0 rg BT 433.72 402.05 Td (of ) Tj ET Q q 0 0 0 rg BT 442.40 402.05 Td (the ) Tj ET Q q 0 0 0 rg BT 454.20 402.05 Td (asset. ) Tj ET Q q 0 0 0 rg BT 473.32 402.05 Td (Assets ) Tj ET Q q 0 0 0 rg BT 496.23 402.05 Td (to ) Tj ET Q q 0 0 0 rg BT 504.47 402.05 Td (be ) Tj ET Q q 0 0 0 rg BT 514.04 402.05 Td (disposed ) Tj ET Q q 0 0 0 rg BT 544.06 402.05 Td (of ) Tj ET Q q 0 0 0 rg BT 552.74 402.05 Td (are ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 392.45 Td (reported ) Tj ET Q q 0 0 0 rg BT 78.15 392.45 Td (at ) Tj ET Q q 0 0 0 rg BT 85.93 392.45 Td (the ) Tj ET Q q 0 0 0 rg BT 97.70 392.45 Td (lower ) Tj ET Q q 0 0 0 rg BT 117.91 392.45 Td (of ) Tj ET Q q 0 0 0 rg BT 126.58 392.45 Td (carrying ) Tj ET Q q 0 0 0 rg BT 155.23 392.45 Td (amount ) Tj ET Q q 0 0 0 rg BT 181.23 392.45 Td (or ) Tj ET Q q 0 0 0 rg BT 189.89 392.45 Td (fair ) Tj ET Q q 0 0 0 rg BT 202.99 392.45 Td (value, ) Tj ET Q q 0 0 0 rg BT 224.32 392.45 Td (less ) Tj ET Q q 0 0 0 rg BT 238.32 392.45 Td (expected ) Tj ET Q q 0 0 0 rg BT 268.74 392.45 Td (costs ) Tj ET Q q 0 0 0 rg BT 286.74 392.45 Td (of ) Tj ET Q q 0 0 0 rg BT 295.41 392.45 Td (disposal.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 373.85 Td (Long-Lived ) Tj ET Q q 0 0 0 rg BT 91.07 373.85 Td (Assets ) Tj ET Q q 0 0 0 rg BT 114.40 373.85 Td (Including ) Tj ET Q q 0 0 0 rg BT 149.30 373.85 Td (Intangible ) Tj ET Q q 0 0 0 rg BT 185.98 373.85 Td (Assets ) Tj ET Q q 0 0 0 rg BT 209.32 373.85 Td (with ) Tj ET Q q 0 0 0 rg BT 226.43 373.85 Td (Finite ) Tj ET Q q 0 0 0 rg BT 248.43 373.85 Td (Lives) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 358.25 Td (Long-lived ) Tj ET Q q 0 0 0 rg BT 87.05 358.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 107.71 358.25 Td (include ) Tj ET Q q 0 0 0 rg BT 133.26 358.25 Td (property) Tj ET Q q 0 0 0 rg BT 159.84 358.25 Td (, ) Tj ET Q q 0 0 0 rg BT 163.84 358.25 Td (plant, ) Tj ET Q q 0 0 0 rg BT 183.84 358.25 Td (equipment ) Tj ET Q q 0 0 0 rg BT 219.61 358.25 Td (and ) Tj ET Q q 0 0 0 rg BT 233.16 358.25 Td (intangible ) Tj ET Q q 0 0 0 rg BT 267.15 358.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 287.81 358.25 Td (with ) Tj ET Q q 0 0 0 rg BT 304.04 358.25 Td (finite ) Tj ET Q q 0 0 0 rg BT 322.92 358.25 Td (lives.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 342.65 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 342.65 Td (e ) Tj ET Q q 0 0 0 rg BT 62.10 342.65 Td (review ) Tj ET Q q 0 0 0 rg BT 86.00 342.65 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 121.02 342.65 Td (assets ) Tj ET Q q 0 0 0 rg BT 141.82 342.65 Td (for ) Tj ET Q q 0 0 0 rg BT 153.29 342.65 Td (impairment ) Tj ET Q q 0 0 0 rg BT 192.31 342.65 Td (whenever ) Tj ET Q q 0 0 0 rg BT 225.54 342.65 Td (events ) Tj ET Q q 0 0 0 rg BT 248.11 342.65 Td (or ) Tj ET Q q 0 0 0 rg BT 256.92 342.65 Td (changes ) Tj ET Q q 0 0 0 rg BT 284.82 342.65 Td (in ) Tj ET Q q 0 0 0 rg BT 293.18 342.65 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 340.63 342.65 Td (indicate ) Tj ET Q q 0 0 0 rg BT 368.09 342.65 Td (that ) Tj ET Q q 0 0 0 rg BT 382.22 342.65 Td (the ) Tj ET Q q 0 0 0 rg BT 394.13 342.65 Td (carrying ) Tj ET Q q 0 0 0 rg BT 422.92 342.65 Td (amount ) Tj ET Q q 0 0 0 rg BT 449.06 342.65 Td (of ) Tj ET Q q 0 0 0 rg BT 457.86 342.65 Td (an ) Tj ET Q q 0 0 0 rg BT 467.55 342.65 Td (asset ) Tj ET Q q 0 0 0 rg BT 485.23 342.65 Td (may ) Tj ET Q q 0 0 0 rg BT 501.15 342.65 Td (not ) Tj ET Q q 0 0 0 rg BT 513.51 342.65 Td (be ) Tj ET Q q 0 0 0 rg BT 523.19 342.65 Td (recoverable. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 333.05 Td (The ) Tj ET Q q 0 0 0 rg BT 64.35 333.05 Td (carrying ) Tj ET Q q 0 0 0 rg BT 93.42 333.05 Td (amounts ) Tj ET Q q 0 0 0 rg BT 122.95 333.05 Td (of ) Tj ET Q q 0 0 0 rg BT 132.03 333.05 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 167.33 333.05 Td (assets ) Tj ET Q q 0 0 0 rg BT 188.41 333.05 Td (are ) Tj ET Q q 0 0 0 rg BT 200.59 333.05 Td (considered ) Tj ET Q q 0 0 0 rg BT 237.66 333.05 Td (impaired ) Tj ET Q q 0 0 0 rg BT 268.51 333.05 Td (when ) Tj ET Q q 0 0 0 rg BT 288.26 333.05 Td (the ) Tj ET Q q 0 0 0 rg BT 300.45 333.05 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 337.96 333.05 Td (undiscounted ) Tj ET Q q 0 0 0 rg BT 383.04 333.05 Td (cash ) Tj ET Q q 0 0 0 rg BT 399.67 333.05 Td (flows ) Tj ET Q q 0 0 0 rg BT 419.86 333.05 Td (from ) Tj ET Q q 0 0 0 rg BT 437.83 333.05 Td (such ) Tj ET Q q 0 0 0 rg BT 454.91 333.05 Td (assets ) Tj ET Q q 0 0 0 rg BT 475.99 333.05 Td (are ) Tj ET Q q 0 0 0 rg BT 488.18 333.05 Td (less ) Tj ET Q q 0 0 0 rg BT 502.59 333.05 Td (than ) Tj ET Q q 0 0 0 rg BT 518.78 333.05 Td (their ) Tj ET Q q 0 0 0 rg BT 535.86 333.05 Td (carrying ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 323.45 Td (amounts. ) Tj ET Q q 0 0 0 rg BT 80.61 323.45 Td (In ) Tj ET Q q 0 0 0 rg BT 89.27 323.45 Td (that ) Tj ET Q q 0 0 0 rg BT 103.27 323.45 Td (event, ) Tj ET Q q 0 0 0 rg BT 124.59 323.45 Td (a ) Tj ET Q q 0 0 0 rg BT 130.14 323.45 Td (loss ) Tj ET Q q 0 0 0 rg BT 144.59 323.45 Td (is ) Tj ET Q q 0 0 0 rg BT 151.93 323.45 Td (recognized ) Tj ET Q q 0 0 0 rg BT 189.02 323.45 Td (based ) Tj ET Q q 0 0 0 rg BT 209.23 323.45 Td (on ) Tj ET Q q 0 0 0 rg BT 219.23 323.45 Td (the ) Tj ET Q q 0 0 0 rg BT 231.01 323.45 Td (amount ) Tj ET Q q 0 0 0 rg BT 257.00 323.45 Td (by ) Tj ET Q q 0 0 0 rg BT 267.00 323.45 Td (which ) Tj ET Q q 0 0 0 rg BT 288.55 323.45 Td (the ) Tj ET Q q 0 0 0 rg BT 300.33 323.45 Td (carrying ) Tj ET Q q 0 0 0 rg BT 328.98 323.45 Td (amount ) Tj ET Q q 0 0 0 rg BT 354.98 323.45 Td (exceeds ) Tj ET Q q 0 0 0 rg BT 382.29 323.45 Td (the ) Tj ET Q q 0 0 0 rg BT 394.07 323.45 Td (fair ) Tj ET Q q 0 0 0 rg BT 407.17 323.45 Td (value. ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 304.85 Td (Goodwill and Indefinite-Lived Intangible ) Tj ET Q q 0 0 0 rg BT 191.75 304.85 Td (Assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 289.25 Td (Goodwill ) Tj ET Q q 0 0 0 rg BT 81.15 289.25 Td (represents ) Tj ET Q q 0 0 0 rg BT 115.01 289.25 Td (the ) Tj ET Q q 0 0 0 rg BT 126.21 289.25 Td (excess ) Tj ET Q q 0 0 0 rg BT 148.52 289.25 Td (of ) Tj ET Q q 0 0 0 rg BT 156.62 289.25 Td (the ) Tj ET Q q 0 0 0 rg BT 167.82 289.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 180.35 289.25 Td (value ) Tj ET Q q 0 0 0 rg BT 199.11 289.25 Td (of ) Tj ET Q q 0 0 0 rg BT 207.20 289.25 Td (consideration ) Tj ET Q q 0 0 0 rg BT 251.73 289.25 Td (paid ) Tj ET Q q 0 0 0 rg BT 266.93 289.25 Td (over ) Tj ET Q q 0 0 0 rg BT 282.57 289.25 Td (the ) Tj ET Q q 0 0 0 rg BT 293.78 289.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 306.31 289.25 Td (value ) Tj ET Q q 0 0 0 rg BT 325.06 289.25 Td (of ) Tj ET Q q 0 0 0 rg BT 333.16 289.25 Td (net ) Tj ET Q q 0 0 0 rg BT 344.36 289.25 Td (tangible ) Tj ET Q q 0 0 0 rg BT 371.56 289.25 Td (and ) Tj ET Q q 0 0 0 rg BT 384.54 289.25 Td (other ) Tj ET Q q 0 0 0 rg BT 402.41 289.25 Td (identifiable ) Tj ET Q q 0 0 0 rg BT 440.27 289.25 Td (intangible ) Tj ET Q q 0 0 0 rg BT 473.69 289.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 493.78 289.25 Td (acquired ) Tj ET Q q 0 0 0 rg BT 522.75 289.25 Td (in ) Tj ET Q q 0 0 0 rg BT 530.40 289.25 Td (a ) Tj ET Q q 0 0 0 rg BT 535.38 289.25 Td (business ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 279.65 Td (combination.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 264.05 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 264.05 Td (e ) Tj ET Q q 0 0 0 rg BT 61.91 264.05 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 90.50 264.05 Td (the ) Tj ET Q q 0 0 0 rg BT 102.22 264.05 Td (carrying ) Tj ET Q q 0 0 0 rg BT 130.81 264.05 Td (amount ) Tj ET Q q 0 0 0 rg BT 156.75 264.05 Td (of ) Tj ET Q q 0 0 0 rg BT 165.36 264.05 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 195.75 264.05 Td (for ) Tj ET Q q 0 0 0 rg BT 207.02 264.05 Td (impairment ) Tj ET Q q 0 0 0 rg BT 245.85 264.05 Td (in ) Tj ET Q q 0 0 0 rg BT 254.01 264.05 Td (the ) Tj ET Q q 0 0 0 rg BT 265.73 264.05 Td (fourth ) Tj ET Q q 0 0 0 rg BT 287.23 264.05 Td (quarter ) Tj ET Q q 0 0 0 rg BT 311.82 264.05 Td (of ) Tj ET Q q 0 0 0 rg BT 320.43 264.05 Td (each ) Tj ET Q q 0 0 0 rg BT 337.03 264.05 Td (year) Tj ET Q q 0 0 0 rg BT 350.47 264.05 Td (, ) Tj ET Q q 0 0 0 rg BT 354.42 264.05 Td (or ) Tj ET Q q 0 0 0 rg BT 363.03 264.05 Td (more ) Tj ET Q q 0 0 0 rg BT 381.41 264.05 Td (frequently ) Tj ET Q q 0 0 0 rg BT 416.23 264.05 Td (if ) Tj ET Q q 0 0 0 rg BT 423.06 264.05 Td (events ) Tj ET Q q 0 0 0 rg BT 445.44 264.05 Td (or ) Tj ET Q q 0 0 0 rg BT 454.05 264.05 Td (changes ) Tj ET Q q 0 0 0 rg BT 481.76 264.05 Td (in ) Tj ET Q q 0 0 0 rg BT 489.93 264.05 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 537.18 264.05 Td (indicate ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 254.45 Td (that ) Tj ET Q q 0 0 0 rg BT 63.34 254.45 Td (the ) Tj ET Q q 0 0 0 rg BT 74.95 254.45 Td (asset ) Tj ET Q q 0 0 0 rg BT 92.34 254.45 Td (might ) Tj ET Q q 0 0 0 rg BT 112.85 254.45 Td (be ) Tj ET Q q 0 0 0 rg BT 122.24 254.45 Td (impaired. ) Tj ET Q q 0 0 0 rg BT 154.11 254.45 Td (An ) Tj ET Q q 0 0 0 rg BT 165.72 254.45 Td (impairment ) Tj ET Q q 0 0 0 rg BT 204.44 254.45 Td (exists ) Tj ET Q q 0 0 0 rg BT 224.50 254.45 Td (when ) Tj ET Q q 0 0 0 rg BT 243.67 254.45 Td (the ) Tj ET Q q 0 0 0 rg BT 255.29 254.45 Td (carrying ) Tj ET Q q 0 0 0 rg BT 283.78 254.45 Td (amount ) Tj ET Q q 0 0 0 rg BT 309.61 254.45 Td (of ) Tj ET Q q 0 0 0 rg BT 318.12 254.45 Td (a ) Tj ET Q q 0 0 0 rg BT 323.51 254.45 Td (reporting ) Tj ET Q q 0 0 0 rg BT 354.67 254.45 Td (unit ) Tj ET Q q 0 0 0 rg BT 368.96 254.45 Td (\(including ) Tj ET Q q 0 0 0 rg BT 403.68 254.45 Td (its ) Tj ET Q q 0 0 0 rg BT 413.08 254.45 Td (goodwill\), ) Tj ET Q q 0 0 0 rg BT 448.03 254.45 Td (exceeds ) Tj ET Q q 0 0 0 rg BT 475.18 254.45 Td (its ) Tj ET Q q 0 0 0 rg BT 484.58 254.45 Td (fair ) Tj ET Q q 0 0 0 rg BT 497.52 254.45 Td (value ) Tj ET Q q 0 0 0 rg BT 516.69 254.45 Td (after ) Tj ET Q q 0 0 0 rg BT 533.18 254.45 Td (adjusting ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 244.85 Td (for ) Tj ET Q q 0 0 0 rg BT 60.83 244.85 Td (any ) Tj ET Q q 0 0 0 rg BT 74.38 244.85 Td (impairments ) Tj ET Q q 0 0 0 rg BT 116.37 244.85 Td (of ) Tj ET Q q 0 0 0 rg BT 125.04 244.85 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 159.92 244.85 Td (assets ) Tj ET Q q 0 0 0 rg BT 180.58 244.85 Td (or ) Tj ET Q q 0 0 0 rg BT 189.25 244.85 Td (indefinite-lived ) Tj ET Q q 0 0 0 rg BT 240.56 244.85 Td (intangible ) Tj ET Q q 0 0 0 rg BT 274.55 244.85 Td (assets.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 229.25 Td (Goodwill ) Tj ET Q q 0 0 0 rg BT 81.72 229.25 Td (impairment ) Tj ET Q q 0 0 0 rg BT 120.61 229.25 Td (is ) Tj ET Q q 0 0 0 rg BT 127.94 229.25 Td (measured ) Tj ET Q q 0 0 0 rg BT 160.60 229.25 Td (as ) Tj ET Q q 0 0 0 rg BT 169.26 229.25 Td (the ) Tj ET Q q 0 0 0 rg BT 181.04 229.25 Td (excess ) Tj ET Q q 0 0 0 rg BT 203.92 229.25 Td (of ) Tj ET Q q 0 0 0 rg BT 212.59 229.25 Td (the ) Tj ET Q q 0 0 0 rg BT 224.36 229.25 Td (carrying ) Tj ET Q q 0 0 0 rg BT 253.02 229.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 279.01 229.25 Td (of ) Tj ET Q q 0 0 0 rg BT 287.68 229.25 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 318.13 229.25 Td (over ) Tj ET Q q 0 0 0 rg BT 334.34 229.25 Td (its ) Tj ET Q q 0 0 0 rg BT 343.90 229.25 Td (implied ) Tj ET Q q 0 0 0 rg BT 370.35 229.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 383.45 229.25 Td (value, ) Tj ET Q q 0 0 0 rg BT 404.78 229.25 Td (which ) Tj ET Q q 0 0 0 rg BT 426.33 229.25 Td (is ) Tj ET Q q 0 0 0 rg BT 433.67 229.25 Td (calculated ) Tj ET Q q 0 0 0 rg BT 468.09 229.25 Td (by ) Tj ET Q q 0 0 0 rg BT 478.09 229.25 Td (deducting ) Tj ET Q q 0 0 0 rg BT 511.64 229.25 Td (the ) Tj ET Q q 0 0 0 rg BT 523.42 229.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 536.52 229.25 Td (value ) Tj ET Q q 0 0 0 rg BT 555.85 229.25 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 219.65 Td (all ) Tj ET Q q 0 0 0 rg BT 59.24 219.65 Td (assets ) Tj ET Q q 0 0 0 rg BT 79.65 219.65 Td (and ) Tj ET Q q 0 0 0 rg BT 92.95 219.65 Td (liabilities, ) Tj ET Q q 0 0 0 rg BT 126.47 219.65 Td (including ) Tj ET Q q 0 0 0 rg BT 158.43 219.65 Td (recognized ) Tj ET Q q 0 0 0 rg BT 195.27 219.65 Td (and ) Tj ET Q q 0 0 0 rg BT 208.57 219.65 Td (unrecognized ) Tj ET Q q 0 0 0 rg BT 253.40 219.65 Td (intangible ) Tj ET Q q 0 0 0 rg BT 287.14 219.65 Td (assets, ) Tj ET Q q 0 0 0 rg BT 309.55 219.65 Td (from ) Tj ET Q q 0 0 0 rg BT 326.85 219.65 Td (the ) Tj ET Q q 0 0 0 rg BT 338.37 219.65 Td (fair ) Tj ET Q q 0 0 0 rg BT 351.21 219.65 Td (value ) Tj ET Q q 0 0 0 rg BT 370.29 219.65 Td (of ) Tj ET Q q 0 0 0 rg BT 378.70 219.65 Td (the ) Tj ET Q q 0 0 0 rg BT 390.21 219.65 Td (reporting ) Tj ET Q q 0 0 0 rg BT 421.29 219.65 Td (unit. ) Tj ET Q q 0 0 0 rg BT 437.35 219.65 Td (W) Tj ET Q q 0 0 0 rg BT 444.26 219.65 Td (e ) Tj ET Q q 0 0 0 rg BT 449.56 219.65 Td (have ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.41 219.65 Td (six) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.74 219.65 Td ( ) Tj ET Q q 0 0 0 rg BT 477.49 219.65 Td (operating ) Tj ET Q q 0 0 0 rg BT 509.44 219.65 Td (segments, ) Tj ET Q q 0 0 0 rg BT 542.96 219.65 Td (which ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 210.05 Td (were ) Tj ET Q q 0 0 0 rg BT 67.61 210.05 Td (also ) Tj ET Q q 0 0 0 rg BT 83.06 210.05 Td (our ) Tj ET Q q 0 0 0 rg BT 96.29 210.05 Td (reportable ) Tj ET Q q 0 0 0 rg BT 131.28 210.05 Td (segments ) Tj ET Q q 0 0 0 rg BT 163.62 210.05 Td (and ) Tj ET Q q 0 0 0 rg BT 177.74 210.05 Td (reporting ) Tj ET Q q 0 0 0 rg BT 209.63 210.05 Td (units ) Tj ET Q q 0 0 0 rg BT 227.75 210.05 Td (as ) Tj ET Q q 0 0 0 rg BT 236.98 210.05 Td (described ) Tj ET Q q 0 0 0 rg BT 270.20 210.05 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.99 210.05 Td (Note ) Tj ET Q q 0 0 0 rg BT 297.10 210.05 Td (20, ) Tj ET Q q 0 0 0 rg BT 309.67 210.05 Td ("Segment ) Tj ET Q q 0 0 0 rg BT 343.49 210.05 Td (Data") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 361.86 210.05 Td (. ) Tj ET Q q 0 0 0 rg BT 366.24 210.05 Td (The ) Tj ET Q q 0 0 0 rg BT 381.24 210.05 Td (fair ) Tj ET Q q 0 0 0 rg BT 394.91 210.05 Td (value ) Tj ET Q q 0 0 0 rg BT 414.80 210.05 Td (of ) Tj ET Q q 0 0 0 rg BT 424.03 210.05 Td (our ) Tj ET Q q 0 0 0 rg BT 437.26 210.05 Td (reporting ) Tj ET Q q 0 0 0 rg BT 469.15 210.05 Td (units ) Tj ET Q q 0 0 0 rg BT 487.27 210.05 Td (is ) Tj ET Q q 0 0 0 rg BT 495.17 210.05 Td (determined ) Tj ET Q q 0 0 0 rg BT 533.72 210.05 Td (based ) Tj ET Q q 0 0 0 rg BT 554.50 210.05 Td (on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 200.45 Td (estimates ) Tj ET Q q 0 0 0 rg BT 81.59 200.45 Td (of ) Tj ET Q q 0 0 0 rg BT 90.57 200.45 Td (future ) Tj ET Q q 0 0 0 rg BT 112.00 200.45 Td (cash ) Tj ET Q q 0 0 0 rg BT 128.53 200.45 Td (flows ) Tj ET Q q 0 0 0 rg BT 148.63 200.45 Td (discounted ) Tj ET Q q 0 0 0 rg BT 185.61 200.45 Td (at ) Tj ET Q q 0 0 0 rg BT 193.70 200.45 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 232.45 200.45 Td (rates ) Tj ET Q q 0 0 0 rg BT 249.87 200.45 Td (and ) Tj ET Q q 0 0 0 rg BT 263.74 200.45 Td (on ) Tj ET Q q 0 0 0 rg BT 274.06 200.45 Td (publicly ) Tj ET Q q 0 0 0 rg BT 302.60 200.45 Td (available ) Tj ET Q q 0 0 0 rg BT 333.79 200.45 Td (information, ) Tj ET Q q 0 0 0 rg BT 375.88 200.45 Td (where ) Tj ET Q q 0 0 0 rg BT 397.75 200.45 Td (appropriate. ) Tj ET Q q 0 0 0 rg BT 438.49 200.45 Td (In ) Tj ET Q q 0 0 0 rg BT 447.48 200.45 Td (the ) Tj ET Q q 0 0 0 rg BT 459.57 200.45 Td (assessment ) Tj ET Q q 0 0 0 rg BT 497.44 200.45 Td (of ) Tj ET Q q 0 0 0 rg BT 506.43 200.45 Td (discounted ) Tj ET Q q 0 0 0 rg BT 543.41 200.45 Td (future ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 190.85 Td (cash ) Tj ET Q q 0 0 0 rg BT 65.25 190.85 Td (flows ) Tj ET Q q 0 0 0 rg BT 84.56 190.85 Td (the ) Tj ET Q q 0 0 0 rg BT 95.87 190.85 Td (following ) Tj ET Q q 0 0 0 rg BT 128.52 190.85 Td (data ) Tj ET Q q 0 0 0 rg BT 143.38 190.85 Td (is ) Tj ET Q q 0 0 0 rg BT 150.25 190.85 Td (used: ) Tj ET Q q 0 0 0 rg BT 168.67 190.85 Td (management's ) Tj ET Q q 0 0 0 rg BT 215.63 190.85 Td (long-term ) Tj ET Q q 0 0 0 rg BT 248.71 190.85 Td (plan, ) Tj ET Q q 0 0 0 rg BT 266.02 190.85 Td (a ) Tj ET Q q 0 0 0 rg BT 271.11 190.85 Td (terminal ) Tj ET Q q 0 0 0 rg BT 299.30 190.85 Td (value ) Tj ET Q q 0 0 0 rg BT 318.16 190.85 Td (at ) Tj ET Q q 0 0 0 rg BT 325.46 190.85 Td (the ) Tj ET Q q 0 0 0 rg BT 336.77 190.85 Td (end ) Tj ET Q q 0 0 0 rg BT 349.86 190.85 Td (of ) Tj ET Q q 0 0 0 rg BT 358.06 190.85 Td (the ) Tj ET Q q 0 0 0 rg BT 369.37 190.85 Td (forecasted ) Tj ET Q q 0 0 0 rg BT 403.77 190.85 Td (periods ) Tj ET Q q 0 0 0 rg BT 428.86 190.85 Td (assuming ) Tj ET Q q 0 0 0 rg BT 460.61 190.85 Td (an ) Tj ET Q q 0 0 0 rg BT 469.70 190.85 Td (inflationary ) Tj ET Q q 0 0 0 rg BT 508.55 190.85 Td (perpetual ) Tj ET Q q 0 0 0 rg BT 539.85 190.85 Td (growth ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 181.25 Td (rate, ) Tj ET Q q 0 0 0 rg BT 65.49 181.25 Td (and ) Tj ET Q q 0 0 0 rg BT 79.04 181.25 Td (a ) Tj ET Q q 0 0 0 rg BT 84.59 181.25 Td (discount ) Tj ET Q q 0 0 0 rg BT 113.70 181.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 127.69 181.25 Td (selected ) Tj ET Q q 0 0 0 rg BT 155.45 181.25 Td (with ) Tj ET Q q 0 0 0 rg BT 171.67 181.25 Td (reference ) Tj ET Q q 0 0 0 rg BT 203.42 181.25 Td (to ) Tj ET Q q 0 0 0 rg BT 211.64 181.25 Td (the ) Tj ET Q q 0 0 0 rg BT 223.41 181.25 Td (relevant ) Tj ET Q q 0 0 0 rg BT 251.18 181.25 Td (cost ) Tj ET Q q 0 0 0 rg BT 266.06 181.25 Td (of ) Tj ET Q q 0 0 0 rg BT 274.73 181.25 Td (capital.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 165.65 Td (Indefinite-lived ) Tj ET Q q 0 0 0 rg BT 101.40 165.65 Td (intangible ) Tj ET Q q 0 0 0 rg BT 135.53 165.65 Td (assets ) Tj ET Q q 0 0 0 rg BT 156.33 165.65 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 164.24 165.65 Td (December31, ) Tj ET Q q 0 0 0 rg BT 211.25 165.65 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 227.25 165.65 Td ( ) Tj ET Q q 0 0 0 rg BT 229.39 165.65 Td (consist ) Tj ET Q q 0 0 0 rg BT 253.75 165.65 Td (solely ) Tj ET Q q 0 0 0 rg BT 275.00 165.65 Td (of ) Tj ET Q q 0 0 0 rg BT 283.80 165.65 Td (trademarks, ) Tj ET Q q 0 0 0 rg BT 323.48 165.65 Td (which ) Tj ET Q q 0 0 0 rg BT 345.17 165.65 Td (are ) Tj ET Q q 0 0 0 rg BT 357.07 165.65 Td (not ) Tj ET Q q 0 0 0 rg BT 369.43 165.65 Td (amortized. ) Tj ET Q q 0 0 0 rg BT 405.40 165.65 Td (W) Tj ET Q q 0 0 0 rg BT 412.31 165.65 Td (e ) Tj ET Q q 0 0 0 rg BT 418.00 165.65 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 446.79 165.65 Td (indefinite-lived ) Tj ET Q q 0 0 0 rg BT 498.24 165.65 Td (intangible ) Tj ET Q q 0 0 0 rg BT 532.37 165.65 Td (assets ) Tj ET Q q 0 0 0 rg BT 553.18 165.65 Td (for ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 156.05 Td (impairment ) Tj ET Q q 0 0 0 rg BT 88.39 156.05 Td (in ) Tj ET Q q 0 0 0 rg BT 96.63 156.05 Td (the ) Tj ET Q q 0 0 0 rg BT 108.42 156.05 Td (fourth ) Tj ET Q q 0 0 0 rg BT 129.99 156.05 Td (quarter ) Tj ET Q q 0 0 0 rg BT 154.66 156.05 Td (of ) Tj ET Q q 0 0 0 rg BT 163.34 156.05 Td (each ) Tj ET Q q 0 0 0 rg BT 180.00 156.05 Td (year) Tj ET Q q 0 0 0 rg BT 193.45 156.05 Td (, ) Tj ET Q q 0 0 0 rg BT 197.46 156.05 Td (or ) Tj ET Q q 0 0 0 rg BT 206.14 156.05 Td (more ) Tj ET Q q 0 0 0 rg BT 224.60 156.05 Td (frequently ) Tj ET Q q 0 0 0 rg BT 259.49 156.05 Td (if ) Tj ET Q q 0 0 0 rg BT 266.39 156.05 Td (events ) Tj ET Q q 0 0 0 rg BT 288.84 156.05 Td (or ) Tj ET Q q 0 0 0 rg BT 297.52 156.05 Td (changes ) Tj ET Q q 0 0 0 rg BT 325.30 156.05 Td (in ) Tj ET Q q 0 0 0 rg BT 333.54 156.05 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 380.87 156.05 Td (indicate ) Tj ET Q q 0 0 0 rg BT 408.21 156.05 Td (that ) Tj ET Q q 0 0 0 rg BT 422.22 156.05 Td (the ) Tj ET Q q 0 0 0 rg BT 434.01 156.05 Td (asset ) Tj ET Q q 0 0 0 rg BT 451.57 156.05 Td (might ) Tj ET Q q 0 0 0 rg BT 472.26 156.05 Td (be ) Tj ET Q q 0 0 0 rg BT 481.82 156.05 Td (impaired. ) Tj ET Q q 0 0 0 rg BT 513.83 156.05 Td (An ) Tj ET Q q 0 0 0 rg BT 525.62 156.05 Td (impairment ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 146.45 Td (loss ) Tj ET Q q 0 0 0 rg BT 63.95 146.45 Td (is ) Tj ET Q q 0 0 0 rg BT 71.29 146.45 Td (recognized ) Tj ET Q q 0 0 0 rg BT 108.38 146.45 Td (if ) Tj ET Q q 0 0 0 rg BT 115.26 146.45 Td (the ) Tj ET Q q 0 0 0 rg BT 127.04 146.45 Td (carrying ) Tj ET Q q 0 0 0 rg BT 155.69 146.45 Td (amount ) Tj ET Q q 0 0 0 rg BT 181.68 146.45 Td (of ) Tj ET Q q 0 0 0 rg BT 190.35 146.45 Td (an ) Tj ET Q q 0 0 0 rg BT 199.90 146.45 Td (indefinite-lived ) Tj ET Q q 0 0 0 rg BT 251.21 146.45 Td (intangible ) Tj ET Q q 0 0 0 rg BT 285.21 146.45 Td (asset ) Tj ET Q q 0 0 0 rg BT 302.76 146.45 Td (exceeds ) Tj ET Q q 0 0 0 rg BT 330.07 146.45 Td (its ) Tj ET Q q 0 0 0 rg BT 339.63 146.45 Td (fair ) Tj ET Q q 0 0 0 rg BT 352.73 146.45 Td (value. ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 127.85 Td (Income ) Tj ET Q q 0 0 0 rg BT 76.68 127.85 Td (T) Tj ET Q q 0 0 0 rg BT 81.29 127.85 Td (axes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 112.25 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 112.25 Td (e ) Tj ET Q q 0 0 0 rg BT 61.57 112.25 Td (account ) Tj ET Q q 0 0 0 rg BT 88.05 112.25 Td (for ) Tj ET Q q 0 0 0 rg BT 98.98 112.25 Td (income ) Tj ET Q q 0 0 0 rg BT 124.13 112.25 Td (taxes ) Tj ET Q q 0 0 0 rg BT 142.18 112.25 Td (under ) Tj ET Q q 0 0 0 rg BT 162.00 112.25 Td (the ) Tj ET Q q 0 0 0 rg BT 173.38 112.25 Td (asset ) Tj ET Q q 0 0 0 rg BT 190.53 112.25 Td (and ) Tj ET Q q 0 0 0 rg BT 203.69 112.25 Td (liability ) Tj ET Q q 0 0 0 rg BT 230.18 112.25 Td (method. ) Tj ET Q q 0 0 0 rg BT 257.78 112.25 Td (Deferred ) Tj ET Q q 0 0 0 rg BT 287.81 112.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 299.19 112.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 319.46 112.25 Td (and ) Tj ET Q q 0 0 0 rg BT 332.61 112.25 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 363.99 112.25 Td (are ) Tj ET Q q 0 0 0 rg BT 375.36 112.25 Td (recognized ) Tj ET Q q 0 0 0 rg BT 412.06 112.25 Td (for ) Tj ET Q q 0 0 0 rg BT 422.99 112.25 Td (the ) Tj ET Q q 0 0 0 rg BT 434.37 112.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 464.40 112.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 475.78 112.25 Td (consequences ) Tj ET Q q 0 0 0 rg BT 521.37 112.25 Td (of ) Tj ET Q q 0 0 0 rg BT 529.64 112.25 Td (temporary ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 102.65 Td (dif) Tj ET Q q 0 0 0 rg BT 58.24 102.65 Td (ferences ) Tj ET Q q 0 0 0 rg BT 87.50 102.65 Td (between ) Tj ET Q q 0 0 0 rg BT 116.78 102.65 Td (the ) Tj ET Q q 0 0 0 rg BT 129.17 102.65 Td (tax ) Tj ET Q q 0 0 0 rg BT 141.56 102.65 Td (bases ) Tj ET Q q 0 0 0 rg BT 161.50 102.65 Td (of ) Tj ET Q q 0 0 0 rg BT 170.79 102.65 Td (assets ) Tj ET Q q 0 0 0 rg BT 192.07 102.65 Td (and ) Tj ET Q q 0 0 0 rg BT 206.24 102.65 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 238.63 102.65 Td (and ) Tj ET Q q 0 0 0 rg BT 252.80 102.65 Td (their ) Tj ET Q q 0 0 0 rg BT 270.08 102.65 Td (reported ) Tj ET Q q 0 0 0 rg BT 299.35 102.65 Td (amounts. ) Tj ET Q q 0 0 0 rg BT 331.08 102.65 Td (Deferred ) Tj ET Q q 0 0 0 rg BT 362.12 102.65 Td (tax ) Tj ET Q q 0 0 0 rg BT 374.51 102.65 Td (assets ) Tj ET Q q 0 0 0 rg BT 395.79 102.65 Td (and ) Tj ET Q q 0 0 0 rg BT 409.96 102.65 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 442.35 102.65 Td (are ) Tj ET Q q 0 0 0 rg BT 454.73 102.65 Td (measured ) Tj ET Q q 0 0 0 rg BT 488.00 102.65 Td (using ) Tj ET Q q 0 0 0 rg BT 507.96 102.65 Td (enacted ) Tj ET Q q 0 0 0 rg BT 535.00 102.65 Td (tax ) Tj ET Q q 0 0 0 rg BT 547.39 102.65 Td (rates ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 93.05 Td (expected ) Tj ET Q q 0 0 0 rg BT 80.00 93.05 Td (to ) Tj ET Q q 0 0 0 rg BT 88.29 93.05 Td (apply ) Tj ET Q q 0 0 0 rg BT 108.14 93.05 Td (to ) Tj ET Q q 0 0 0 rg BT 116.43 93.05 Td (taxable ) Tj ET Q q 0 0 0 rg BT 141.60 93.05 Td (income ) Tj ET Q q 0 0 0 rg BT 167.22 93.05 Td (in ) Tj ET Q q 0 0 0 rg BT 175.52 93.05 Td (the ) Tj ET Q q 0 0 0 rg BT 187.36 93.05 Td (year ) Tj ET Q q 0 0 0 rg BT 203.20 93.05 Td (in ) Tj ET Q q 0 0 0 rg BT 211.50 93.05 Td (which ) Tj ET Q q 0 0 0 rg BT 233.12 93.05 Td (the ) Tj ET Q q 0 0 0 rg BT 244.96 93.05 Td (temporary ) Tj ET Q q 0 0 0 rg BT 279.91 93.05 Td (dif) Tj ET Q q 0 0 0 rg BT 288.65 93.05 Td (ferences ) Tj ET Q q 0 0 0 rg BT 317.37 93.05 Td (are ) Tj ET Q q 0 0 0 rg BT 329.21 93.05 Td (expected ) Tj ET Q q 0 0 0 rg BT 359.71 93.05 Td (to ) Tj ET Q q 0 0 0 rg BT 368.00 93.05 Td (be ) Tj ET Q q 0 0 0 rg BT 377.63 93.05 Td (recovered ) Tj ET Q q 0 0 0 rg BT 411.23 93.05 Td (or ) Tj ET Q q 0 0 0 rg BT 419.96 93.05 Td (settled. ) Tj ET Q q 0 0 0 rg BT 444.77 93.05 Td (V) Tj ET Q q 0 0 0 rg BT 449.66 93.05 Td (aluation ) Tj ET Q q 0 0 0 rg BT 477.50 93.05 Td (allowances ) Tj ET Q q 0 0 0 rg BT 515.11 93.05 Td (are ) Tj ET Q q 0 0 0 rg BT 526.95 93.05 Td (established ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 83.45 Td (when ) Tj ET Q q 0 0 0 rg BT 69.03 83.45 Td (necessary ) Tj ET Q q 0 0 0 rg BT 102.32 83.45 Td (to ) Tj ET Q q 0 0 0 rg BT 110.75 83.45 Td (reduce ) Tj ET Q q 0 0 0 rg BT 134.26 83.45 Td (deferred ) Tj ET Q q 0 0 0 rg BT 163.11 83.45 Td (tax ) Tj ET Q q 0 0 0 rg BT 175.08 83.45 Td (assets ) Tj ET Q q 0 0 0 rg BT 195.94 83.45 Td (to ) Tj ET Q q 0 0 0 rg BT 204.37 83.45 Td (amounts ) Tj ET Q q 0 0 0 rg BT 233.68 83.45 Td (which ) Tj ET Q q 0 0 0 rg BT 255.43 83.45 Td (are ) Tj ET Q q 0 0 0 rg BT 267.39 83.45 Td (more ) Tj ET Q q 0 0 0 rg BT 286.03 83.45 Td (likely ) Tj ET Q q 0 0 0 rg BT 306.45 83.45 Td (than ) Tj ET Q q 0 0 0 rg BT 322.42 83.45 Td (not ) Tj ET Q q 0 0 0 rg BT 334.85 83.45 Td (to ) Tj ET Q q 0 0 0 rg BT 343.27 83.45 Td (be ) Tj ET Q q 0 0 0 rg BT 353.02 83.45 Td (realized. ) Tj ET Q q 0 0 0 rg BT 382.53 83.45 Td (In ) Tj ET Q q 0 0 0 rg BT 391.40 83.45 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 426.92 83.45 Td (the ) Tj ET Q q 0 0 0 rg BT 438.89 83.45 Td (realizability ) Tj ET Q q 0 0 0 rg BT 479.29 83.45 Td (of ) Tj ET Q q 0 0 0 rg BT 488.16 83.45 Td (our ) Tj ET Q q 0 0 0 rg BT 501.02 83.45 Td (deferred ) Tj ET Q q 0 0 0 rg BT 529.87 83.45 Td (tax ) Tj ET Q q 0 0 0 rg BT 541.84 83.45 Td (assets, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 73.85 Td (we ) Tj ET Q q 0 0 0 rg BT 60.57 73.85 Td (consider ) Tj ET Q q 0 0 0 rg BT 89.42 73.85 Td (all ) Tj ET Q q 0 0 0 rg BT 99.16 73.85 Td (available ) Tj ET Q q 0 0 0 rg BT 129.78 73.85 Td (positive ) Tj ET Q q 0 0 0 rg BT 156.86 73.85 Td (and ) Tj ET Q q 0 0 0 rg BT 170.16 73.85 Td (negative ) Tj ET Q q 0 0 0 rg BT 199.00 73.85 Td (evidence, ) Tj ET Q q 0 0 0 rg BT 231.17 73.85 Td (including ) Tj ET Q q 0 0 0 rg BT 263.14 73.85 Td (future ) Tj ET Q q 0 0 0 rg BT 283.98 73.85 Td (reversals ) Tj ET Q q 0 0 0 rg BT 314.16 73.85 Td (of ) Tj ET Q q 0 0 0 rg BT 322.57 73.85 Td (existing ) Tj ET Q q 0 0 0 rg BT 349.65 73.85 Td (taxable ) Tj ET Q q 0 0 0 rg BT 374.49 73.85 Td (temporary ) Tj ET Q q 0 0 0 rg BT 409.11 73.85 Td (dif) Tj ET Q q 0 0 0 rg BT 417.86 73.85 Td (ferences, ) Tj ET Q q 0 0 0 rg BT 448.25 73.85 Td (projected ) Tj ET Q q 0 0 0 rg BT 479.75 73.85 Td (future ) Tj ET Q q 0 0 0 rg BT 500.60 73.85 Td (taxable ) Tj ET Q q 0 0 0 rg BT 525.45 73.85 Td (income, ) Tj ET Q q 0 0 0 rg BT 552.74 73.85 Td (tax ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 64.25 Td (planning ) Tj ET Q q 0 0 0 rg BT 79.50 64.25 Td (strategies ) Tj ET Q q 0 0 0 rg BT 111.71 64.25 Td (and ) Tj ET Q q 0 0 0 rg BT 125.26 64.25 Td (recent ) Tj ET Q q 0 0 0 rg BT 146.80 64.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 176.78 64.25 Td (operations.) Tj ET Q endstream endobj 107 0 obj <>] /Rotate 0 /Contents 108 0 R>> endobj 108 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (51) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 723.50 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 723.50 Td (e ) Tj ET Q q 0 0 0 rg BT 61.88 723.50 Td (recognize ) Tj ET Q q 0 0 0 rg BT 94.90 723.50 Td (in ) Tj ET Q q 0 0 0 rg BT 103.04 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 114.74 723.50 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 157.09 723.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 187.00 723.50 Td (statements ) Tj ET Q q 0 0 0 rg BT 222.69 723.50 Td (those ) Tj ET Q q 0 0 0 rg BT 241.50 723.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 253.20 723.50 Td (positions ) Tj ET Q q 0 0 0 rg BT 284.02 723.50 Td (determined ) Tj ET Q q 0 0 0 rg BT 321.92 723.50 Td (to ) Tj ET Q q 0 0 0 rg BT 330.07 723.50 Td (be ) Tj ET Q q 0 0 0 rg BT 339.54 723.50 Td (more ) Tj ET Q q 0 0 0 rg BT 361.46 723.50 Td (likely ) Tj ET Q q 0 0 0 rg BT 381.60 723.50 Td (than ) Tj ET Q q 0 0 0 rg BT 397.29 723.50 Td (not ) Tj ET Q q 0 0 0 rg BT 412.99 723.50 Td (of ) Tj ET Q q 0 0 0 rg BT 421.58 723.50 Td (being ) Tj ET Q q 0 0 0 rg BT 441.27 723.50 Td (sustained ) Tj ET Q q 0 0 0 rg BT 472.97 723.50 Td (upon ) Tj ET Q q 0 0 0 rg BT 490.89 723.50 Td (examination, ) Tj ET Q q 0 0 0 rg BT 534.36 723.50 Td (based ) Tj ET Q q 0 0 0 rg BT 554.50 723.50 Td (on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 713.90 Td (the ) Tj ET Q q 0 0 0 rg BT 60.88 713.90 Td (technical ) Tj ET Q q 0 0 0 rg BT 91.36 713.90 Td (merits ) Tj ET Q q 0 0 0 rg BT 112.96 713.90 Td (of ) Tj ET Q q 0 0 0 rg BT 121.23 713.90 Td (the ) Tj ET Q q 0 0 0 rg BT 132.61 713.90 Td (positions ) Tj ET Q q 0 0 0 rg BT 163.11 713.90 Td (and ) Tj ET Q q 0 0 0 rg BT 176.26 713.90 Td (we ) Tj ET Q q 0 0 0 rg BT 187.20 713.90 Td (recognize, ) Tj ET Q q 0 0 0 rg BT 221.89 713.90 Td (when ) Tj ET Q q 0 0 0 rg BT 240.82 713.90 Td (applicable, ) Tj ET Q q 0 0 0 rg BT 277.30 713.90 Td (both ) Tj ET Q q 0 0 0 rg BT 293.13 713.90 Td (accrued ) Tj ET Q q 0 0 0 rg BT 319.60 713.90 Td (interest ) Tj ET Q q 0 0 0 rg BT 344.75 713.90 Td (and ) Tj ET Q q 0 0 0 rg BT 357.91 713.90 Td (penalties ) Tj ET Q q 0 0 0 rg BT 387.95 713.90 Td (related ) Tj ET Q q 0 0 0 rg BT 411.32 713.90 Td (to ) Tj ET Q q 0 0 0 rg BT 419.14 713.90 Td (uncertain ) Tj ET Q q 0 0 0 rg BT 450.51 713.90 Td (tax ) Tj ET Q q 0 0 0 rg BT 461.89 713.90 Td (positions ) Tj ET Q q 0 0 0 rg BT 492.39 713.90 Td (in ) Tj ET Q q 0 0 0 rg BT 500.22 713.90 Td (income ) Tj ET Q q 0 0 0 rg BT 525.37 713.90 Td (tax ) Tj ET Q q 0 0 0 rg BT 536.75 713.90 Td (expense ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 704.30 Td (in ) Tj ET Q q 0 0 0 rg BT 57.72 704.30 Td (the ) Tj ET Q q 0 0 0 rg BT 69.50 704.30 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 118.14 704.30 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 160.58 704.30 Td (statements ) Tj ET Q q 0 0 0 rg BT 196.35 704.30 Td (of ) Tj ET Q q 0 0 0 rg BT 205.01 704.30 Td (operations ) Tj ET Q q 0 0 0 rg BT 240.34 704.30 Td (and ) Tj ET Q q 0 0 0 rg BT 253.89 704.30 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 304.31 704.30 Td (income.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 685.70 Td (For) Tj ET Q q 0 0 0 rg BT 61.79 685.70 Td (eign ) Tj ET Q q 0 0 0 rg BT 78.02 685.70 Td (Curr) Tj ET Q q 0 0 0 rg BT 95.20 685.70 Td (ency) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 667.10 Td (T) Tj ET Q q 0 0 0 rg BT 53.51 667.10 Td (ranslation ) Tj ET Q q 0 0 0 rg BT 88.40 667.10 Td (of ) Tj ET Q q 0 0 0 rg BT 96.63 667.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 127.07 667.10 Td (statements) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 651.50 Td (Our ) Tj ET Q q 0 0 0 rg BT 63.39 651.50 Td (reporting ) Tj ET Q q 0 0 0 rg BT 94.17 651.50 Td (currency ) Tj ET Q q 0 0 0 rg BT 123.60 651.50 Td (is ) Tj ET Q q 0 0 0 rg BT 130.39 651.50 Td (the ) Tj ET Q q 0 0 0 rg BT 141.62 651.50 Td (dollar) Tj ET Q q 0 0 0 rg BT 159.83 651.50 Td (. ) Tj ET Q q 0 0 0 rg BT 163.18 651.50 Td (The ) Tj ET Q q 0 0 0 rg BT 177.07 651.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 206.51 651.50 Td (statements ) Tj ET Q q 0 0 0 rg BT 241.73 651.50 Td (of ) Tj ET Q q 0 0 0 rg BT 249.85 651.50 Td (our ) Tj ET Q q 0 0 0 rg BT 261.96 651.50 Td (operations ) Tj ET Q q 0 0 0 rg BT 296.74 651.50 Td (whose ) Tj ET Q q 0 0 0 rg BT 318.63 651.50 Td (functional ) Tj ET Q q 0 0 0 rg BT 352.52 651.50 Td (currency ) Tj ET Q q 0 0 0 rg BT 381.95 651.50 Td (is ) Tj ET Q q 0 0 0 rg BT 388.74 651.50 Td (other ) Tj ET Q q 0 0 0 rg BT 406.63 651.50 Td (than ) Tj ET Q q 0 0 0 rg BT 421.85 651.50 Td (the ) Tj ET Q q 0 0 0 rg BT 433.08 651.50 Td (dollar ) Tj ET Q q 0 0 0 rg BT 453.19 651.50 Td (are ) Tj ET Q q 0 0 0 rg BT 464.41 651.50 Td (translated ) Tj ET Q q 0 0 0 rg BT 496.96 651.50 Td (from ) Tj ET Q q 0 0 0 rg BT 513.96 651.50 Td (such ) Tj ET Q q 0 0 0 rg BT 530.08 651.50 Td (functional ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 641.90 Td (currency ) Tj ET Q q 0 0 0 rg BT 79.46 641.90 Td (to ) Tj ET Q q 0 0 0 rg BT 87.66 641.90 Td (dollars ) Tj ET Q q 0 0 0 rg BT 111.41 641.90 Td (at ) Tj ET Q q 0 0 0 rg BT 119.16 641.90 Td (the ) Tj ET Q q 0 0 0 rg BT 130.91 641.90 Td (exchange ) Tj ET Q q 0 0 0 rg BT 163.09 641.90 Td (rates ) Tj ET Q q 0 0 0 rg BT 180.17 641.90 Td (in ) Tj ET Q q 0 0 0 rg BT 188.37 641.90 Td (ef) Tj ET Q q 0 0 0 rg BT 194.44 641.90 Td (fect ) Tj ET Q q 0 0 0 rg BT 208.41 641.90 Td (at ) Tj ET Q q 0 0 0 rg BT 216.16 641.90 Td (the ) Tj ET Q q 0 0 0 rg BT 227.91 641.90 Td (balance ) Tj ET Q q 0 0 0 rg BT 254.31 641.90 Td (sheet ) Tj ET Q q 0 0 0 rg BT 272.73 641.90 Td (date ) Tj ET Q q 0 0 0 rg BT 288.03 641.90 Td (for ) Tj ET Q q 0 0 0 rg BT 299.33 641.90 Td (assets ) Tj ET Q q 0 0 0 rg BT 319.98 641.90 Td (and ) Tj ET Q q 0 0 0 rg BT 333.50 641.90 Td (liabilities, ) Tj ET Q q 0 0 0 rg BT 367.26 641.90 Td (and ) Tj ET Q q 0 0 0 rg BT 380.78 641.90 Td (at ) Tj ET Q q 0 0 0 rg BT 388.54 641.90 Td (weighted ) Tj ET Q q 0 0 0 rg BT 419.84 641.90 Td (average ) Tj ET Q q 0 0 0 rg BT 446.68 641.90 Td (rates ) Tj ET Q q 0 0 0 rg BT 463.76 641.90 Td (for ) Tj ET Q q 0 0 0 rg BT 475.07 641.90 Td (the ) Tj ET Q q 0 0 0 rg BT 486.82 641.90 Td (period ) Tj ET Q q 0 0 0 rg BT 509.23 641.90 Td (for ) Tj ET Q q 0 0 0 rg BT 520.54 641.90 Td (revenues ) Tj ET Q q 0 0 0 rg BT 550.95 641.90 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 632.30 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 82.35 632.30 Td (including ) Tj ET Q q 0 0 0 rg BT 114.54 632.30 Td (gains ) Tj ET Q q 0 0 0 rg BT 133.39 632.30 Td (and ) Tj ET Q q 0 0 0 rg BT 146.91 632.30 Td (losses. ) Tj ET Q q 0 0 0 rg BT 169.85 632.30 Td (T) Tj ET Q q 0 0 0 rg BT 174.46 632.30 Td (ranslational ) Tj ET Q q 0 0 0 rg BT 213.75 632.30 Td (gains ) Tj ET Q q 0 0 0 rg BT 232.61 632.30 Td (and ) Tj ET Q q 0 0 0 rg BT 246.13 632.30 Td (losses ) Tj ET Q q 0 0 0 rg BT 267.21 632.30 Td (are ) Tj ET Q q 0 0 0 rg BT 278.95 632.30 Td (char) Tj ET Q q 0 0 0 rg BT 292.57 632.30 Td (ged ) Tj ET Q q 0 0 0 rg BT 306.09 632.30 Td (or ) Tj ET Q q 0 0 0 rg BT 314.72 632.30 Td (credited ) Tj ET Q q 0 0 0 rg BT 342.45 632.30 Td (to ) Tj ET Q q 0 0 0 rg BT 350.64 632.30 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 393.04 632.30 Td (other ) Tj ET Q q 0 0 0 rg BT 411.44 632.30 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 461.84 632.30 Td (income, ) Tj ET Q q 0 0 0 rg BT 489.36 632.30 Td (a ) Tj ET Q q 0 0 0 rg BT 494.88 632.30 Td (component ) Tj ET Q q 0 0 0 rg BT 532.39 632.30 Td (of ) Tj ET Q q 0 0 0 rg BT 541.03 632.30 Td (equity) Tj ET Q q 0 0 0 rg BT 560.50 632.30 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 616.70 Td (Certain ) Tj ET Q q 0 0 0 rg BT 75.15 616.70 Td (of ) Tj ET Q q 0 0 0 rg BT 83.92 616.70 Td (our ) Tj ET Q q 0 0 0 rg BT 96.69 616.70 Td (intercompany ) Tj ET Q q 0 0 0 rg BT 142.78 616.70 Td (loans ) Tj ET Q q 0 0 0 rg BT 161.77 616.70 Td (to ) Tj ET Q q 0 0 0 rg BT 170.10 616.70 Td (our ) Tj ET Q q 0 0 0 rg BT 182.86 616.70 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 222.74 616.70 Td (are ) Tj ET Q q 0 0 0 rg BT 234.61 616.70 Td (of ) Tj ET Q q 0 0 0 rg BT 243.38 616.70 Td (a ) Tj ET Q q 0 0 0 rg BT 249.04 616.70 Td (long-term ) Tj ET Q q 0 0 0 rg BT 282.69 616.70 Td (investment ) Tj ET Q q 0 0 0 rg BT 319.90 616.70 Td (nature. ) Tj ET Q q 0 0 0 rg BT 343.84 616.70 Td (W) Tj ET Q q 0 0 0 rg BT 350.75 616.70 Td (e ) Tj ET Q q 0 0 0 rg BT 356.40 616.70 Td (recorded ) Tj ET Q q 0 0 0 rg BT 386.49 616.70 Td (a ) Tj ET Q q 0 0 0 rg BT 392.14 616.70 Td (foreign ) Tj ET Q q 0 0 0 rg BT 417.35 616.70 Td (exchange ) Tj ET Q q 0 0 0 rg BT 449.66 616.70 Td (loss ) Tj ET Q q 0 0 0 rg BT 464.21 616.70 Td (of ) Tj ET Q q 0 0 0 rg BT 472.98 616.70 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.31 616.70 Td (164.4 ) Tj ET Q q 0 0 0 rg BT 509.42 616.70 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.53 616.70 Td ( ) Tj ET Q q 0 0 0 rg BT 534.63 616.70 Td (and ) Tj ET Q q 0 0 0 rg BT 548.29 616.70 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 607.10 Td (16.4 ) Tj ET Q q 0 0 0 rg BT 65.77 607.10 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 88.88 607.10 Td ( ) Tj ET Q q 0 0 0 rg BT 91.15 607.10 Td (for ) Tj ET Q q 0 0 0 rg BT 102.74 607.10 Td (the ) Tj ET Q q 0 0 0 rg BT 114.79 607.10 Td (years ) Tj ET Q q 0 0 0 rg BT 133.93 607.10 Td (ending ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 157.97 607.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 205.11 607.10 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.11 607.10 Td ( ) Tj ET Q q 0 0 0 rg BT 223.38 607.10 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 237.19 607.10 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.19 607.10 Td (, ) Tj ET Q q 0 0 0 rg BT 257.46 607.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 295.59 607.10 Td (, ) Tj ET Q q 0 0 0 rg BT 299.86 607.10 Td (on ) Tj ET Q q 0 0 0 rg BT 310.13 607.10 Td (the ) Tj ET Q q 0 0 0 rg BT 322.17 607.10 Td (retranslation ) Tj ET Q q 0 0 0 rg BT 364.42 607.10 Td (of ) Tj ET Q q 0 0 0 rg BT 373.35 607.10 Td (these ) Tj ET Q q 0 0 0 rg BT 392.05 607.10 Td (intercompany ) Tj ET Q q 0 0 0 rg BT 438.31 607.10 Td (loans ) Tj ET Q q 0 0 0 rg BT 457.46 607.10 Td (as ) Tj ET Q q 0 0 0 rg BT 466.39 607.10 Td (an ) Tj ET Q q 0 0 0 rg BT 476.21 607.10 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 513.58 607.10 Td (to ) Tj ET Q q 0 0 0 rg BT 522.07 607.10 Td (accumulated ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 597.50 Td (other ) Tj ET Q q 0 0 0 rg BT 67.94 597.50 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 118.36 597.50 Td (income, ) Tj ET Q q 0 0 0 rg BT 145.91 597.50 Td (a ) Tj ET Q q 0 0 0 rg BT 151.46 597.50 Td (component ) Tj ET Q q 0 0 0 rg BT 189.01 597.50 Td (of ) Tj ET Q q 0 0 0 rg BT 197.67 597.50 Td (shareholders' ) Tj ET Q q 0 0 0 rg BT 241.54 597.50 Td (equity) Tj ET Q q 0 0 0 rg BT 261.02 597.50 Td (, ) Tj ET Q q 0 0 0 rg BT 265.02 597.50 Td (as ) Tj ET Q q 0 0 0 rg BT 273.68 597.50 Td (settlement ) Tj ET Q q 0 0 0 rg BT 308.56 597.50 Td (of ) Tj ET Q q 0 0 0 rg BT 317.23 597.50 Td (these ) Tj ET Q q 0 0 0 rg BT 335.66 597.50 Td (loans ) Tj ET Q q 0 0 0 rg BT 354.55 597.50 Td (is ) Tj ET Q q 0 0 0 rg BT 361.89 597.50 Td (not ) Tj ET Q q 0 0 0 rg BT 374.11 597.50 Td (planned ) Tj ET Q q 0 0 0 rg BT 401.43 597.50 Td (or ) Tj ET Q q 0 0 0 rg BT 410.10 597.50 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 447.19 597.50 Td (in ) Tj ET Q q 0 0 0 rg BT 455.41 597.50 Td (the ) Tj ET Q q 0 0 0 rg BT 467.19 597.50 Td (foreseeable ) Tj ET Q q 0 0 0 rg BT 505.61 597.50 Td (future.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 578.90 Td (T) Tj ET Q q 0 0 0 rg BT 53.51 578.90 Td (ransactions ) Tj ET Q q 0 0 0 rg BT 92.84 578.90 Td (in ) Tj ET Q q 0 0 0 rg BT 101.07 578.90 Td (for) Tj ET Q q 0 0 0 rg BT 110.11 578.90 Td (eign ) Tj ET Q q 0 0 0 rg BT 125.88 578.90 Td (curr) Tj ET Q q 0 0 0 rg BT 139.36 578.90 Td (encies) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 563.30 Td (Gains ) Tj ET Q q 0 0 0 rg BT 70.20 563.30 Td (and ) Tj ET Q q 0 0 0 rg BT 83.78 563.30 Td (losses ) Tj ET Q q 0 0 0 rg BT 104.92 563.30 Td (from ) Tj ET Q q 0 0 0 rg BT 122.50 563.30 Td (foreign ) Tj ET Q q 0 0 0 rg BT 147.64 563.30 Td (currency ) Tj ET Q q 0 0 0 rg BT 177.65 563.30 Td (transactions ) Tj ET Q q 0 0 0 rg BT 217.89 563.30 Td (are ) Tj ET Q q 0 0 0 rg BT 229.69 563.30 Td (included ) Tj ET Q q 0 0 0 rg BT 259.27 563.30 Td (in ) Tj ET Q q 0 0 0 rg BT 267.52 563.30 Td (foreign ) Tj ET Q q 0 0 0 rg BT 292.65 563.30 Td (currency ) Tj ET Q q 0 0 0 rg BT 322.66 563.30 Td (exchange ) Tj ET Q q 0 0 0 rg BT 354.90 563.30 Td (gain ) Tj ET Q q 0 0 0 rg BT 370.70 563.30 Td (/ ) Tj ET Q q 0 0 0 rg BT 374.96 563.30 Td (\(loss\), ) Tj ET Q q 0 0 0 rg BT 396.77 563.30 Td (net ) Tj ET Q q 0 0 0 rg BT 408.57 563.30 Td (in ) Tj ET Q q 0 0 0 rg BT 416.82 563.30 Td (the ) Tj ET Q q 0 0 0 rg BT 428.63 563.30 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 471.09 563.30 Td (statements ) Tj ET Q q 0 0 0 rg BT 506.89 563.30 Td (of ) Tj ET Q q 0 0 0 rg BT 515.59 563.30 Td (operations ) Tj ET Q q 0 0 0 rg BT 550.95 563.30 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 553.70 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 99.93 553.70 Td (income ) Tj ET Q q 0 0 0 rg BT 125.47 553.70 Td (in ) Tj ET Q q 0 0 0 rg BT 133.70 553.70 Td (the ) Tj ET Q q 0 0 0 rg BT 145.47 553.70 Td (period ) Tj ET Q q 0 0 0 rg BT 167.91 553.70 Td (during ) Tj ET Q q 0 0 0 rg BT 190.79 553.70 Td (which ) Tj ET Q q 0 0 0 rg BT 212.34 553.70 Td (they ) Tj ET Q q 0 0 0 rg BT 228.12 553.70 Td (arise.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 535.10 Td (Leases) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 519.50 Td (Leases ) Tj ET Q q 0 0 0 rg BT 73.34 519.50 Td (are ) Tj ET Q q 0 0 0 rg BT 85.17 519.50 Td (classified ) Tj ET Q q 0 0 0 rg BT 117.46 519.50 Td (as ) Tj ET Q q 0 0 0 rg BT 126.19 519.50 Td (either ) Tj ET Q q 0 0 0 rg BT 146.47 519.50 Td (capital ) Tj ET Q q 0 0 0 rg BT 169.87 519.50 Td (or ) Tj ET Q q 0 0 0 rg BT 178.60 519.50 Td (operating. ) Tj ET Q q 0 0 0 rg BT 212.73 519.50 Td (Those ) Tj ET Q q 0 0 0 rg BT 234.35 519.50 Td (leases ) Tj ET Q q 0 0 0 rg BT 255.53 519.50 Td (that ) Tj ET Q q 0 0 0 rg BT 269.60 519.50 Td (transfer ) Tj ET Q q 0 0 0 rg BT 296.10 519.50 Td (substantially ) Tj ET Q q 0 0 0 rg BT 338.61 519.50 Td (all ) Tj ET Q q 0 0 0 rg BT 348.68 519.50 Td (benefits ) Tj ET Q q 0 0 0 rg BT 376.07 519.50 Td (and ) Tj ET Q q 0 0 0 rg BT 389.69 519.50 Td (risks ) Tj ET Q q 0 0 0 rg BT 406.88 519.50 Td (of ) Tj ET Q q 0 0 0 rg BT 415.61 519.50 Td (ownership ) Tj ET Q q 0 0 0 rg BT 451.01 519.50 Td (of ) Tj ET Q q 0 0 0 rg BT 459.75 519.50 Td (the ) Tj ET Q q 0 0 0 rg BT 471.59 519.50 Td (property ) Tj ET Q q 0 0 0 rg BT 500.77 519.50 Td (to ) Tj ET Q q 0 0 0 rg BT 509.06 519.50 Td (us ) Tj ET Q q 0 0 0 rg BT 518.24 519.50 Td (are ) Tj ET Q q 0 0 0 rg BT 530.08 519.50 Td (accounted ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 509.90 Td (for ) Tj ET Q q 0 0 0 rg BT 60.83 509.90 Td (as ) Tj ET Q q 0 0 0 rg BT 69.49 509.90 Td (capital ) Tj ET Q q 0 0 0 rg BT 92.81 509.90 Td (leases. ) Tj ET Q q 0 0 0 rg BT 115.47 509.90 Td (All ) Tj ET Q q 0 0 0 rg BT 127.70 509.90 Td (other ) Tj ET Q q 0 0 0 rg BT 146.13 509.90 Td (leases ) Tj ET Q q 0 0 0 rg BT 167.23 509.90 Td (are ) Tj ET Q q 0 0 0 rg BT 179.00 509.90 Td (accounted ) Tj ET Q q 0 0 0 rg BT 213.43 509.90 Td (for ) Tj ET Q q 0 0 0 rg BT 224.75 509.90 Td (as ) Tj ET Q q 0 0 0 rg BT 233.42 509.90 Td (operating ) Tj ET Q q 0 0 0 rg BT 265.63 509.90 Td (leases.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 494.30 Td (Capital ) Tj ET Q q 0 0 0 rg BT 74.93 494.30 Td (leases ) Tj ET Q q 0 0 0 rg BT 96.35 494.30 Td (are ) Tj ET Q q 0 0 0 rg BT 108.44 494.30 Td (accounted ) Tj ET Q q 0 0 0 rg BT 143.18 494.30 Td (for ) Tj ET Q q 0 0 0 rg BT 154.83 494.30 Td (as ) Tj ET Q q 0 0 0 rg BT 163.82 494.30 Td (assets ) Tj ET Q q 0 0 0 rg BT 184.80 494.30 Td (and ) Tj ET Q q 0 0 0 rg BT 198.68 494.30 Td (are ) Tj ET Q q 0 0 0 rg BT 210.76 494.30 Td (depreciated ) Tj ET Q q 0 0 0 rg BT 249.95 494.30 Td (on ) Tj ET Q q 0 0 0 rg BT 260.27 494.30 Td (a ) Tj ET Q q 0 0 0 rg BT 266.14 494.30 Td (straight-line ) Tj ET Q q 0 0 0 rg BT 307.12 494.30 Td (basis ) Tj ET Q q 0 0 0 rg BT 325.44 494.30 Td (over ) Tj ET Q q 0 0 0 rg BT 341.98 494.30 Td (the ) Tj ET Q q 0 0 0 rg BT 354.07 494.30 Td (shorter ) Tj ET Q q 0 0 0 rg BT 378.61 494.30 Td (of ) Tj ET Q q 0 0 0 rg BT 387.59 494.30 Td (the ) Tj ET Q q 0 0 0 rg BT 399.69 494.30 Td (estimated ) Tj ET Q q 0 0 0 rg BT 432.66 494.30 Td (useful ) Tj ET Q q 0 0 0 rg BT 454.54 494.30 Td (life ) Tj ET Q q 0 0 0 rg BT 467.52 494.30 Td (of ) Tj ET Q q 0 0 0 rg BT 476.50 494.30 Td (the ) Tj ET Q q 0 0 0 rg BT 488.60 494.30 Td (asset ) Tj ET Q q 0 0 0 rg BT 506.47 494.30 Td (or ) Tj ET Q q 0 0 0 rg BT 515.46 494.30 Td (the ) Tj ET Q q 0 0 0 rg BT 527.55 494.30 Td (lease ) Tj ET Q q 0 0 0 rg BT 545.86 494.30 Td (term. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 484.70 Td (Commitments ) Tj ET Q q 0 0 0 rg BT 97.09 484.70 Td (to ) Tj ET Q q 0 0 0 rg BT 105.56 484.70 Td (repay ) Tj ET Q q 0 0 0 rg BT 125.58 484.70 Td (the ) Tj ET Q q 0 0 0 rg BT 137.61 484.70 Td (principal ) Tj ET Q q 0 0 0 rg BT 168.30 484.70 Td (amounts ) Tj ET Q q 0 0 0 rg BT 197.66 484.70 Td (arising ) Tj ET Q q 0 0 0 rg BT 221.68 484.70 Td (under ) Tj ET Q q 0 0 0 rg BT 242.15 484.70 Td (capital ) Tj ET Q q 0 0 0 rg BT 265.73 484.70 Td (lease ) Tj ET Q q 0 0 0 rg BT 283.97 484.70 Td (obligations ) Tj ET Q q 0 0 0 rg BT 321.77 484.70 Td (are ) Tj ET Q q 0 0 0 rg BT 333.79 484.70 Td (included ) Tj ET Q q 0 0 0 rg BT 363.59 484.70 Td (in ) Tj ET Q q 0 0 0 rg BT 372.07 484.70 Td (current ) Tj ET Q q 0 0 0 rg BT 396.97 484.70 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 429.00 484.70 Td (to ) Tj ET Q q 0 0 0 rg BT 437.48 484.70 Td (the ) Tj ET Q q 0 0 0 rg BT 449.50 484.70 Td (extent ) Tj ET Q q 0 0 0 rg BT 471.30 484.70 Td (that ) Tj ET Q q 0 0 0 rg BT 485.55 484.70 Td (the ) Tj ET Q q 0 0 0 rg BT 497.58 484.70 Td (amount ) Tj ET Q q 0 0 0 rg BT 523.83 484.70 Td (is ) Tj ET Q q 0 0 0 rg BT 531.42 484.70 Td (repayable ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 475.10 Td (within ) Tj ET Q q 0 0 0 rg BT 71.95 475.10 Td (one ) Tj ET Q q 0 0 0 rg BT 85.50 475.10 Td (year; ) Tj ET Q q 0 0 0 rg BT 103.48 475.10 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 136.59 475.10 Td (the ) Tj ET Q q 0 0 0 rg BT 148.36 475.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 178.79 475.10 Td (is ) Tj ET Q q 0 0 0 rg BT 186.13 475.10 Td (included ) Tj ET Q q 0 0 0 rg BT 215.68 475.10 Td (in ) Tj ET Q q 0 0 0 rg BT 223.90 475.10 Td (non-current ) Tj ET Q q 0 0 0 rg BT 263.21 475.10 Td (liabilities. ) Tj ET Q q 0 0 0 rg BT 296.84 475.10 Td (The ) Tj ET Q q 0 0 0 rg BT 311.28 475.10 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 347.93 475.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 365.91 475.10 Td (obligation ) Tj ET Q q 0 0 0 rg BT 400.36 475.10 Td (reflects ) Tj ET Q q 0 0 0 rg BT 425.89 475.10 Td (the ) Tj ET Q q 0 0 0 rg BT 437.67 475.10 Td (present ) Tj ET Q q 0 0 0 rg BT 462.77 475.10 Td (value ) Tj ET Q q 0 0 0 rg BT 482.09 475.10 Td (of ) Tj ET Q q 0 0 0 rg BT 490.76 475.10 Td (future ) Tj ET Q q 0 0 0 rg BT 511.86 475.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 529.85 475.10 Td (payments. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 465.50 Td (The ) Tj ET Q q 0 0 0 rg BT 63.94 465.50 Td (financing ) Tj ET Q q 0 0 0 rg BT 96.15 465.50 Td (element ) Tj ET Q q 0 0 0 rg BT 123.47 465.50 Td (of ) Tj ET Q q 0 0 0 rg BT 132.13 465.50 Td (the ) Tj ET Q q 0 0 0 rg BT 143.91 465.50 Td (lease ) Tj ET Q q 0 0 0 rg BT 161.89 465.50 Td (payments ) Tj ET Q q 0 0 0 rg BT 194.55 465.50 Td (is ) Tj ET Q q 0 0 0 rg BT 201.89 465.50 Td (char) Tj ET Q q 0 0 0 rg BT 215.51 465.50 Td (ged ) Tj ET Q q 0 0 0 rg BT 229.06 465.50 Td (to ) Tj ET Q q 0 0 0 rg BT 237.29 465.50 Td (interest ) Tj ET Q q 0 0 0 rg BT 262.83 465.50 Td (expense ) Tj ET Q q 0 0 0 rg BT 290.60 465.50 Td (over ) Tj ET Q q 0 0 0 rg BT 306.81 465.50 Td (the ) Tj ET Q q 0 0 0 rg BT 318.59 465.50 Td (term ) Tj ET Q q 0 0 0 rg BT 335.25 465.50 Td (of ) Tj ET Q q 0 0 0 rg BT 343.91 465.50 Td (the ) Tj ET Q q 0 0 0 rg BT 355.68 465.50 Td (lease.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 449.90 Td (Operating ) Tj ET Q q 0 0 0 rg BT 83.49 449.90 Td (lease ) Tj ET Q q 0 0 0 rg BT 101.48 449.90 Td (costs ) Tj ET Q q 0 0 0 rg BT 119.48 449.90 Td (are ) Tj ET Q q 0 0 0 rg BT 131.24 449.90 Td (expensed ) Tj ET Q q 0 0 0 rg BT 163.01 449.90 Td (on ) Tj ET Q q 0 0 0 rg BT 173.01 449.90 Td (a ) Tj ET Q q 0 0 0 rg BT 178.56 449.90 Td (straight-line ) Tj ET Q q 0 0 0 rg BT 219.21 449.90 Td (basis ) Tj ET Q q 0 0 0 rg BT 237.21 449.90 Td (over ) Tj ET Q q 0 0 0 rg BT 253.43 449.90 Td (the ) Tj ET Q q 0 0 0 rg BT 265.20 449.90 Td (term ) Tj ET Q q 0 0 0 rg BT 281.86 449.90 Td (of ) Tj ET Q q 0 0 0 rg BT 290.53 449.90 Td (the ) Tj ET Q q 0 0 0 rg BT 302.30 449.90 Td (lease.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 431.30 Td (Financial ) Tj ET Q q 0 0 0 rg BT 83.50 431.30 Td (Instruments) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 412.70 Td (Fair ) Tj ET Q q 0 0 0 rg BT 65.72 412.70 Td (value ) Tj ET Q q 0 0 0 rg BT 85.05 412.70 Td (of ) Tj ET Q q 0 0 0 rg BT 93.27 412.70 Td (financial ) Tj ET Q q 0 0 0 rg BT 123.71 412.70 Td (instruments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 397.10 Td (The ) Tj ET Q q 0 0 0 rg BT 63.91 397.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 92.53 397.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 118.50 397.10 Td (of ) Tj ET Q q 0 0 0 rg BT 127.14 397.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 157.09 397.10 Td (instruments, ) Tj ET Q q 0 0 0 rg BT 198.40 397.10 Td (including ) Tj ET Q q 0 0 0 rg BT 230.59 397.10 Td (cash, ) Tj ET Q q 0 0 0 rg BT 248.77 397.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 278.73 397.10 Td (receivable, ) Tj ET Q q 0 0 0 rg BT 315.57 397.10 Td (and ) Tj ET Q q 0 0 0 rg BT 329.09 397.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 359.05 397.10 Td (payable ) Tj ET Q q 0 0 0 rg BT 385.90 397.10 Td (and ) Tj ET Q q 0 0 0 rg BT 399.42 397.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 426.26 397.10 Td (liabilities, ) Tj ET Q q 0 0 0 rg BT 460.00 397.10 Td (approximate ) Tj ET Q q 0 0 0 rg BT 501.96 397.10 Td (their ) Tj ET Q q 0 0 0 rg BT 518.59 397.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 531.67 397.10 Td (value ) Tj ET Q q 0 0 0 rg BT 550.96 397.10 Td (due ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 387.50 Td (to ) Tj ET Q q 0 0 0 rg BT 58.06 387.50 Td (the ) Tj ET Q q 0 0 0 rg BT 70.17 387.50 Td (short-term ) Tj ET Q q 0 0 0 rg BT 105.83 387.50 Td (nature ) Tj ET Q q 0 0 0 rg BT 128.15 387.50 Td (of ) Tj ET Q q 0 0 0 rg BT 137.15 387.50 Td (these ) Tj ET Q q 0 0 0 rg BT 155.93 387.50 Td (items. ) Tj ET Q q 0 0 0 rg BT 177.42 387.50 Td (The ) Tj ET Q q 0 0 0 rg BT 192.20 387.50 Td (fair ) Tj ET Q q 0 0 0 rg BT 205.64 387.50 Td (value ) Tj ET Q q 0 0 0 rg BT 225.30 387.50 Td (of ) Tj ET Q q 0 0 0 rg BT 234.30 387.50 Td (our ) Tj ET Q q 0 0 0 rg BT 247.30 387.50 Td (Senior ) Tj ET Q q 0 0 0 rg BT 270.52 387.50 Td (Debt ) Tj ET Q q 0 0 0 rg BT 288.41 387.50 Td (\(as ) Tj ET Q q 0 0 0 rg BT 300.07 387.50 Td (defined ) Tj ET Q q 0 0 0 rg BT 326.39 387.50 Td (hereinafter\) ) Tj ET Q q 0 0 0 rg BT 366.03 387.50 Td (is ) Tj ET Q q 0 0 0 rg BT 373.71 387.50 Td (included ) Tj ET Q q 0 0 0 rg BT 403.59 387.50 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.15 387.50 Td (Note ) Tj ET Q q 0 0 0 rg BT 430.03 387.50 Td (5, ) Tj ET Q q 0 0 0 rg BT 438.37 387.50 Td ("Long-term ) Tj ET Q q 0 0 0 rg BT 478.18 387.50 Td (Debt ) Tj ET Q q 0 0 0 rg BT 496.07 387.50 Td (and ) Tj ET Q q 0 0 0 rg BT 509.96 387.50 Td (Other ) Tj ET Q q 0 0 0 rg BT 530.51 387.50 Td (Financing ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 377.90 Td (Arrangements") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 98.08 377.90 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 362.30 Td (Fair ) Tj ET Q q 0 0 0 rg BT 64.45 362.30 Td (value ) Tj ET Q q 0 0 0 rg BT 83.84 362.30 Td (is ) Tj ET Q q 0 0 0 rg BT 91.24 362.30 Td (the ) Tj ET Q q 0 0 0 rg BT 103.08 362.30 Td (price ) Tj ET Q q 0 0 0 rg BT 121.13 362.30 Td (an ) Tj ET Q q 0 0 0 rg BT 130.75 362.30 Td (asset ) Tj ET Q q 0 0 0 rg BT 148.36 362.30 Td (or ) Tj ET Q q 0 0 0 rg BT 157.09 362.30 Td (liability ) Tj ET Q q 0 0 0 rg BT 184.04 362.30 Td (could ) Tj ET Q q 0 0 0 rg BT 203.88 362.30 Td (be ) Tj ET Q q 0 0 0 rg BT 213.49 362.30 Td (exchanged ) Tj ET Q q 0 0 0 rg BT 249.76 362.30 Td (in ) Tj ET Q q 0 0 0 rg BT 258.05 362.30 Td (an ) Tj ET Q q 0 0 0 rg BT 267.66 362.30 Td (arm) Tj ET Q q 0 0 0 rg BT 282.32 362.30 Td (s-length ) Tj ET Q q 0 0 0 rg BT 310.16 362.30 Td (orderly ) Tj ET Q q 0 0 0 rg BT 335.33 362.30 Td (transaction ) Tj ET Q q 0 0 0 rg BT 372.49 362.30 Td (between ) Tj ET Q q 0 0 0 rg BT 401.21 362.30 Td (knowledgeable, ) Tj ET Q q 0 0 0 rg BT 453.70 362.30 Td (able ) Tj ET Q q 0 0 0 rg BT 469.09 362.30 Td (and ) Tj ET Q q 0 0 0 rg BT 482.70 362.30 Td (willing ) Tj ET Q q 0 0 0 rg BT 507.43 362.30 Td (parties ) Tj ET Q q 0 0 0 rg BT 530.82 362.30 Td (that ) Tj ET Q q 0 0 0 rg BT 544.88 362.30 Td (is ) Tj ET Q q 0 0 0 rg BT 552.28 362.30 Td (not ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 352.70 Td (a ) Tj ET Q q 0 0 0 rg BT 55.54 352.70 Td (forced ) Tj ET Q q 0 0 0 rg BT 78.46 352.70 Td (sale ) Tj ET Q q 0 0 0 rg BT 93.39 352.70 Td (or ) Tj ET Q q 0 0 0 rg BT 102.54 352.70 Td (liquidation. ) Tj ET Q q 0 0 0 rg BT 141.69 352.70 Td (US ) Tj ET Q q 0 0 0 rg BT 154.41 352.70 Td (GAAP) Tj ET Q q 0 0 0 rg BT 175.89 352.70 Td ( ) Tj ET Q q 0 0 0 rg BT 178.38 352.70 Td (requires ) Tj ET Q q 0 0 0 rg BT 206.64 352.70 Td (significant ) Tj ET Q q 0 0 0 rg BT 242.90 352.70 Td (management ) Tj ET Q q 0 0 0 rg BT 286.26 352.70 Td (estimates ) Tj ET Q q 0 0 0 rg BT 318.51 352.70 Td (in ) Tj ET Q q 0 0 0 rg BT 327.23 352.70 Td (determining ) Tj ET Q q 0 0 0 rg BT 368.37 352.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 381.96 352.70 Td (value. ) Tj ET Q q 0 0 0 rg BT 403.60 352.70 Td (The ) Tj ET Q q 0 0 0 rg BT 418.52 352.70 Td (extent ) Tj ET Q q 0 0 0 rg BT 440.56 352.70 Td (of ) Tj ET Q q 0 0 0 rg BT 449.71 352.70 Td (management) Tj ET Q q 0 0 0 rg BT 492.81 352.70 Td (s ) Tj ET Q q 0 0 0 rg BT 498.41 352.70 Td (judgments ) Tj ET Q q 0 0 0 rg BT 534.23 352.70 Td (is ) Tj ET Q q 0 0 0 rg BT 542.06 352.70 Td (highly ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 343.10 Td (dependent ) Tj ET Q q 0 0 0 rg BT 84.49 343.10 Td (on ) Tj ET Q q 0 0 0 rg BT 94.60 343.10 Td (the ) Tj ET Q q 0 0 0 rg BT 106.49 343.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 138.38 343.10 Td (model ) Tj ET Q q 0 0 0 rg BT 160.49 343.10 Td (employed ) Tj ET Q q 0 0 0 rg BT 194.15 343.10 Td (and ) Tj ET Q q 0 0 0 rg BT 207.81 343.10 Td (the ) Tj ET Q q 0 0 0 rg BT 219.70 343.10 Td (observability ) Tj ET Q q 0 0 0 rg BT 263.58 343.10 Td (of ) Tj ET Q q 0 0 0 rg BT 272.36 343.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 294.03 343.10 Td (to ) Tj ET Q q 0 0 0 rg BT 302.37 343.10 Td (the ) Tj ET Q q 0 0 0 rg BT 314.26 343.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 327.47 343.10 Td (value ) Tj ET Q q 0 0 0 rg BT 346.91 343.10 Td (model. ) Tj ET Q q 0 0 0 rg BT 370.87 343.10 Td (The ) Tj ET Q q 0 0 0 rg BT 385.42 343.10 Td (level ) Tj ET Q q 0 0 0 rg BT 403.08 343.10 Td (of ) Tj ET Q q 0 0 0 rg BT 411.86 343.10 Td (management ) Tj ET Q q 0 0 0 rg BT 454.85 343.10 Td (judgment ) Tj ET Q q 0 0 0 rg BT 487.18 343.10 Td (required ) Tj ET Q q 0 0 0 rg BT 515.95 343.10 Td (in ) Tj ET Q q 0 0 0 rg BT 524.28 343.10 Td (establishing ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 333.50 Td (fair ) Tj ET Q q 0 0 0 rg BT 63.06 333.50 Td (value ) Tj ET Q q 0 0 0 rg BT 82.84 333.50 Td (of ) Tj ET Q q 0 0 0 rg BT 91.96 333.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 122.39 333.50 Td (instruments ) Tj ET Q q 0 0 0 rg BT 162.18 333.50 Td (is ) Tj ET Q q 0 0 0 rg BT 169.97 333.50 Td (more ) Tj ET Q q 0 0 0 rg BT 188.87 333.50 Td (significant ) Tj ET Q q 0 0 0 rg BT 225.09 333.50 Td (where ) Tj ET Q q 0 0 0 rg BT 247.09 333.50 Td (there ) Tj ET Q q 0 0 0 rg BT 265.53 333.50 Td (is ) Tj ET Q q 0 0 0 rg BT 273.32 333.50 Td (no ) Tj ET Q q 0 0 0 rg BT 283.78 333.50 Td (active ) Tj ET Q q 0 0 0 rg BT 305.33 333.50 Td (market ) Tj ET Q q 0 0 0 rg BT 330.00 333.50 Td (in ) Tj ET Q q 0 0 0 rg BT 338.67 333.50 Td (which ) Tj ET Q q 0 0 0 rg BT 360.68 333.50 Td (the ) Tj ET Q q 0 0 0 rg BT 372.91 333.50 Td (instrument ) Tj ET Q q 0 0 0 rg BT 409.58 333.50 Td (is ) Tj ET Q q 0 0 0 rg BT 417.37 333.50 Td (traded. ) Tj ET Q q 0 0 0 rg BT 441.82 333.50 Td (For ) Tj ET Q q 0 0 0 rg BT 455.38 333.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 485.82 333.50 Td (instruments ) Tj ET Q q 0 0 0 rg BT 525.61 333.50 Td (that ) Tj ET Q q 0 0 0 rg BT 540.06 333.50 Td (are ) Tj ET Q q 0 0 0 rg BT 552.28 333.50 Td (not ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 323.90 Td (remeasured ) Tj ET Q q 0 0 0 rg BT 89.00 323.90 Td (through ) Tj ET Q q 0 0 0 rg BT 116.52 323.90 Td (net ) Tj ET Q q 0 0 0 rg BT 128.92 323.90 Td (income, ) Tj ET Q q 0 0 0 rg BT 157.10 323.90 Td (including ) Tj ET Q q 0 0 0 rg BT 189.95 323.90 Td (the ) Tj ET Q q 0 0 0 rg BT 202.36 323.90 Td (2014 ) Tj ET Q q 0 0 0 rg BT 220.80 323.90 Td (W) Tj ET Q q 0 0 0 rg BT 227.71 323.90 Td (arrants ) Tj ET Q q 0 0 0 rg BT 252.11 323.90 Td (\(see ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.62 323.90 Td (Note ) Tj ET Q q 0 0 0 rg BT 285.80 323.90 Td (5, ) Tj ET Q q 0 0 0 rg BT 294.43 323.90 Td ("Long-term ) Tj ET Q q 0 0 0 rg BT 334.54 323.90 Td (Debt ) Tj ET Q q 0 0 0 rg BT 352.72 323.90 Td (and ) Tj ET Q q 0 0 0 rg BT 366.91 323.90 Td (Other ) Tj ET Q q 0 0 0 rg BT 387.75 323.90 Td (Financing ) Tj ET Q q 0 0 0 rg BT 421.80 323.90 Td (Arrangements") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 470.38 323.90 Td ( ) Tj ET Q q 0 0 0 rg BT 473.01 323.90 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.20 323.90 Td (Note ) Tj ET Q q 0 0 0 rg BT 505.38 323.90 Td (13, ) Tj ET Q q 0 0 0 rg BT 518.01 323.90 Td ("Equity") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.87 323.90 Td (\), ) Tj ET Q q 0 0 0 rg BT 553.17 323.90 Td (we ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 314.30 Td (estimate ) Tj ET Q q 0 0 0 rg BT 78.19 314.30 Td (fair ) Tj ET Q q 0 0 0 rg BT 91.32 314.30 Td (value ) Tj ET Q q 0 0 0 rg BT 110.67 314.30 Td (at ) Tj ET Q q 0 0 0 rg BT 118.48 314.30 Td (issuance ) Tj ET Q q 0 0 0 rg BT 147.61 314.30 Td (and ) Tj ET Q q 0 0 0 rg BT 161.19 314.30 Td (account ) Tj ET Q q 0 0 0 rg BT 188.09 314.30 Td (for ) Tj ET Q q 0 0 0 rg BT 199.45 314.30 Td (the ) Tj ET Q q 0 0 0 rg BT 211.26 314.30 Td (instrument ) Tj ET Q q 0 0 0 rg BT 247.51 314.30 Td (at ) Tj ET Q q 0 0 0 rg BT 255.31 314.30 Td (amortized ) Tj ET Q q 0 0 0 rg BT 289.32 314.30 Td (cost. ) Tj ET Q q 0 0 0 rg BT 306.24 314.30 Td (For ) Tj ET Q q 0 0 0 rg BT 319.38 314.30 Td (financial ) Tj ET Q q 0 0 0 rg BT 349.40 314.30 Td (instruments ) Tj ET Q q 0 0 0 rg BT 388.76 314.30 Td (that ) Tj ET Q q 0 0 0 rg BT 402.79 314.30 Td (are ) Tj ET Q q 0 0 0 rg BT 414.58 314.30 Td (remeasured ) Tj ET Q q 0 0 0 rg BT 453.48 314.30 Td (through ) Tj ET Q q 0 0 0 rg BT 480.40 314.30 Td (net ) Tj ET Q q 0 0 0 rg BT 492.20 314.30 Td (income, ) Tj ET Q q 0 0 0 rg BT 519.78 314.30 Td (we ) Tj ET Q q 0 0 0 rg BT 531.14 314.30 Td (assess ) Tj ET Q q 0 0 0 rg BT 552.72 314.30 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 304.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 62.73 304.70 Td (value ) Tj ET Q q 0 0 0 rg BT 82.19 304.70 Td (of ) Tj ET Q q 0 0 0 rg BT 90.98 304.70 Td (the ) Tj ET Q q 0 0 0 rg BT 102.89 304.70 Td (instrument ) Tj ET Q q 0 0 0 rg BT 139.24 304.70 Td (at ) Tj ET Q q 0 0 0 rg BT 147.14 304.70 Td (each ) Tj ET Q q 0 0 0 rg BT 163.92 304.70 Td (period ) Tj ET Q q 0 0 0 rg BT 186.49 304.70 Td (end ) Tj ET Q q 0 0 0 rg BT 200.17 304.70 Td (or ) Tj ET Q q 0 0 0 rg BT 208.97 304.70 Td (earlier ) Tj ET Q q 0 0 0 rg BT 231.53 304.70 Td (when ) Tj ET Q q 0 0 0 rg BT 250.98 304.70 Td (events ) Tj ET Q q 0 0 0 rg BT 273.55 304.70 Td (occur ) Tj ET Q q 0 0 0 rg BT 293.45 304.70 Td (or ) Tj ET Q q 0 0 0 rg BT 302.24 304.70 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 349.69 304.70 Td (change ) Tj ET Q q 0 0 0 rg BT 374.47 304.70 Td (that ) Tj ET Q q 0 0 0 rg BT 388.60 304.70 Td (would ) Tj ET Q q 0 0 0 rg BT 410.73 304.70 Td (so ) Tj ET Q q 0 0 0 rg BT 419.97 304.70 Td (require ) Tj ET Q q 0 0 0 rg BT 444.76 304.70 Td (\(see ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 459.77 304.70 Td (Note ) Tj ET Q q 0 0 0 rg BT 477.45 304.70 Td (14, ) Tj ET Q q 0 0 0 rg BT 489.58 304.70 Td ("Financial ) Tj ET Q q 0 0 0 rg BT 524.74 304.70 Td (Instruments ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 295.10 Td (and ) Tj ET Q q 0 0 0 rg BT 63.05 295.10 Td (Fair ) Tj ET Q q 0 0 0 rg BT 77.79 295.10 Td (V) Tj ET Q q 0 0 0 rg BT 82.68 295.10 Td (alue ) Tj ET Q q 0 0 0 rg BT 98.01 295.10 Td (Measurements") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 147.93 295.10 Td (\).) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 276.50 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 85.26 276.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 115.70 276.50 Td (instruments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 260.90 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 260.90 Td (e ) Tj ET Q q 0 0 0 rg BT 62.56 260.90 Td (use ) Tj ET Q q 0 0 0 rg BT 75.82 260.90 Td (derivative ) Tj ET Q q 0 0 0 rg BT 110.41 260.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 140.99 260.90 Td (instruments ) Tj ET Q q 0 0 0 rg BT 180.92 260.90 Td (for ) Tj ET Q q 0 0 0 rg BT 192.85 260.90 Td (the ) Tj ET Q q 0 0 0 rg BT 205.22 260.90 Td (purpose ) Tj ET Q q 0 0 0 rg BT 233.15 260.90 Td (of ) Tj ET Q q 0 0 0 rg BT 242.42 260.90 Td (mitigating ) Tj ET Q q 0 0 0 rg BT 277.90 260.90 Td (currency ) Tj ET Q q 0 0 0 rg BT 308.48 260.90 Td (and ) Tj ET Q q 0 0 0 rg BT 322.63 260.90 Td (interest ) Tj ET Q q 0 0 0 rg BT 348.78 260.90 Td (rate ) Tj ET Q q 0 0 0 rg BT 363.37 260.90 Td (risks, ) Tj ET Q q 0 0 0 rg BT 383.08 260.90 Td (which ) Tj ET Q q 0 0 0 rg BT 405.23 260.90 Td (exist ) Tj ET Q q 0 0 0 rg BT 422.94 260.90 Td (as ) Tj ET Q q 0 0 0 rg BT 432.20 260.90 Td (part ) Tj ET Q q 0 0 0 rg BT 447.24 260.90 Td (of ) Tj ET Q q 0 0 0 rg BT 456.50 260.90 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 485.33 260.90 Td (business ) Tj ET Q q 0 0 0 rg BT 515.04 260.90 Td (operations ) Tj ET Q q 0 0 0 rg BT 550.96 260.90 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 251.30 Td (financing ) Tj ET Q q 0 0 0 rg BT 81.96 251.30 Td (activities. ) Tj ET Q q 0 0 0 rg BT 114.59 251.30 Td (As ) Tj ET Q q 0 0 0 rg BT 125.73 251.30 Td (a ) Tj ET Q q 0 0 0 rg BT 131.53 251.30 Td (policy) Tj ET Q q 0 0 0 rg BT 151.00 251.30 Td (, ) Tj ET Q q 0 0 0 rg BT 155.25 251.30 Td (we ) Tj ET Q q 0 0 0 rg BT 166.83 251.30 Td (do ) Tj ET Q q 0 0 0 rg BT 177.08 251.30 Td (not ) Tj ET Q q 0 0 0 rg BT 189.55 251.30 Td (engage ) Tj ET Q q 0 0 0 rg BT 214.45 251.30 Td (in ) Tj ET Q q 0 0 0 rg BT 222.92 251.30 Td (speculative ) Tj ET Q q 0 0 0 rg BT 261.15 251.30 Td (or ) Tj ET Q q 0 0 0 rg BT 270.06 251.30 Td (leveraged ) Tj ET Q q 0 0 0 rg BT 303.40 251.30 Td (transactions, ) Tj ET Q q 0 0 0 rg BT 345.86 251.30 Td (nor ) Tj ET Q q 0 0 0 rg BT 358.77 251.30 Td (do ) Tj ET Q q 0 0 0 rg BT 369.02 251.30 Td (we ) Tj ET Q q 0 0 0 rg BT 380.60 251.30 Td (hold ) Tj ET Q q 0 0 0 rg BT 397.07 251.30 Td (or ) Tj ET Q q 0 0 0 rg BT 405.98 251.30 Td (issue ) Tj ET Q q 0 0 0 rg BT 424.23 251.30 Td (derivative ) Tj ET Q q 0 0 0 rg BT 458.46 251.30 Td (financial ) Tj ET Q q 0 0 0 rg BT 488.69 251.30 Td (instruments ) Tj ET Q q 0 0 0 rg BT 528.27 251.30 Td (for ) Tj ET Q q 0 0 0 rg BT 539.85 251.30 Td (trading ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 241.70 Td (purposes.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 226.10 Td (Forward ) Tj ET Q q 0 0 0 rg BT 78.42 226.10 Td (exchange ) Tj ET Q q 0 0 0 rg BT 110.44 226.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 141.14 226.10 Td (and ) Tj ET Q q 0 0 0 rg BT 154.50 226.10 Td (currency ) Tj ET Q q 0 0 0 rg BT 184.30 226.10 Td (swaps ) Tj ET Q q 0 0 0 rg BT 205.67 226.10 Td (are ) Tj ET Q q 0 0 0 rg BT 217.26 226.10 Td (used ) Tj ET Q q 0 0 0 rg BT 233.74 226.10 Td (to ) Tj ET Q q 0 0 0 rg BT 241.78 226.10 Td (mitigate ) Tj ET Q q 0 0 0 rg BT 269.81 226.10 Td (exposures ) Tj ET Q q 0 0 0 rg BT 303.62 226.10 Td (to ) Tj ET Q q 0 0 0 rg BT 311.66 226.10 Td (currency ) Tj ET Q q 0 0 0 rg BT 341.46 226.10 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 381.04 226.10 Td (on ) Tj ET Q q 0 0 0 rg BT 390.86 226.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 414.44 226.10 Td (short-term ) Tj ET Q q 0 0 0 rg BT 449.58 226.10 Td (transactions ) Tj ET Q q 0 0 0 rg BT 489.61 226.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 521.19 226.10 Td (denominated ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 216.50 Td (in ) Tj ET Q q 0 0 0 rg BT 57.72 216.50 Td (currencies ) Tj ET Q q 0 0 0 rg BT 92.58 216.50 Td (other ) Tj ET Q q 0 0 0 rg BT 111.02 216.50 Td (than ) Tj ET Q q 0 0 0 rg BT 126.79 216.50 Td (our ) Tj ET Q q 0 0 0 rg BT 139.45 216.50 Td (functional ) Tj ET Q q 0 0 0 rg BT 173.88 216.50 Td (currency) Tj ET Q q 0 0 0 rg BT 201.34 216.50 Td (. ) Tj ET Q q 0 0 0 rg BT 205.19 216.50 Td (These ) Tj ET Q q 0 0 0 rg BT 226.29 216.50 Td (contracts ) Tj ET Q q 0 0 0 rg BT 257.16 216.50 Td (are ) Tj ET Q q 0 0 0 rg BT 268.92 216.50 Td (marked ) Tj ET Q q 0 0 0 rg BT 294.90 216.50 Td (to ) Tj ET Q q 0 0 0 rg BT 303.12 216.50 Td (market ) Tj ET Q q 0 0 0 rg BT 327.33 216.50 Td (at ) Tj ET Q q 0 0 0 rg BT 335.10 216.50 Td (the ) Tj ET Q q 0 0 0 rg BT 346.87 216.50 Td (balance ) Tj ET Q q 0 0 0 rg BT 373.29 216.50 Td (sheet ) Tj ET Q q 0 0 0 rg BT 391.72 216.50 Td (date, ) Tj ET Q q 0 0 0 rg BT 409.04 216.50 Td (and ) Tj ET Q q 0 0 0 rg BT 422.59 216.50 Td (the ) Tj ET Q q 0 0 0 rg BT 434.36 216.50 Td (resultant ) Tj ET Q q 0 0 0 rg BT 463.90 216.50 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 499.21 216.50 Td (gains ) Tj ET Q q 0 0 0 rg BT 518.09 216.50 Td (and ) Tj ET Q q 0 0 0 rg BT 531.64 216.50 Td (losses ) Tj ET Q q 0 0 0 rg BT 552.75 216.50 Td (are ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 206.90 Td (recorded ) Tj ET Q q 0 0 0 rg BT 79.36 206.90 Td (in ) Tj ET Q q 0 0 0 rg BT 87.46 206.90 Td (the ) Tj ET Q q 0 0 0 rg BT 99.10 206.90 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 141.41 206.90 Td (statements ) Tj ET Q q 0 0 0 rg BT 177.06 206.90 Td (of ) Tj ET Q q 0 0 0 rg BT 185.60 206.90 Td (operations ) Tj ET Q q 0 0 0 rg BT 220.80 206.90 Td (and ) Tj ET Q q 0 0 0 rg BT 234.23 206.90 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 284.53 206.90 Td (income, ) Tj ET Q q 0 0 0 rg BT 311.95 206.90 Td (together ) Tj ET Q q 0 0 0 rg BT 340.04 206.90 Td (with ) Tj ET Q q 0 0 0 rg BT 356.14 206.90 Td (realized ) Tj ET Q q 0 0 0 rg BT 383.33 206.90 Td (gains ) Tj ET Q q 0 0 0 rg BT 402.09 206.90 Td (and ) Tj ET Q q 0 0 0 rg BT 415.51 206.90 Td (losses ) Tj ET Q q 0 0 0 rg BT 436.50 206.90 Td (arising ) Tj ET Q q 0 0 0 rg BT 460.15 206.90 Td (on ) Tj ET Q q 0 0 0 rg BT 470.03 206.90 Td (settlement ) Tj ET Q q 0 0 0 rg BT 504.78 206.90 Td (of ) Tj ET Q q 0 0 0 rg BT 513.32 206.90 Td (these ) Tj ET Q q 0 0 0 rg BT 531.64 206.90 Td (contracts.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 191.30 Td (Interest ) Tj ET Q q 0 0 0 rg BT 75.26 191.30 Td (rate ) Tj ET Q q 0 0 0 rg BT 89.02 191.30 Td (swaps ) Tj ET Q q 0 0 0 rg BT 110.34 191.30 Td (and ) Tj ET Q q 0 0 0 rg BT 123.66 191.30 Td (other ) Tj ET Q q 0 0 0 rg BT 141.87 191.30 Td (instruments ) Tj ET Q q 0 0 0 rg BT 180.97 191.30 Td (may ) Tj ET Q q 0 0 0 rg BT 196.52 191.30 Td (be ) Tj ET Q q 0 0 0 rg BT 205.84 191.30 Td (used ) Tj ET Q q 0 0 0 rg BT 222.27 191.30 Td (to ) Tj ET Q q 0 0 0 rg BT 230.27 191.30 Td (mitigate ) Tj ET Q q 0 0 0 rg BT 258.25 191.30 Td (exposures ) Tj ET Q q 0 0 0 rg BT 292.02 191.30 Td (to ) Tj ET Q q 0 0 0 rg BT 300.01 191.30 Td (interest ) Tj ET Q q 0 0 0 rg BT 325.33 191.30 Td (rate ) Tj ET Q q 0 0 0 rg BT 339.08 191.30 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 378.63 191.30 Td (on ) Tj ET Q q 0 0 0 rg BT 388.40 191.30 Td (certain ) Tj ET Q q 0 0 0 rg BT 411.93 191.30 Td (of ) Tj ET Q q 0 0 0 rg BT 420.36 191.30 Td (our ) Tj ET Q q 0 0 0 rg BT 432.80 191.30 Td (long-term ) Tj ET Q q 0 0 0 rg BT 466.11 191.30 Td (debt ) Tj ET Q q 0 0 0 rg BT 481.66 191.30 Td (instruments ) Tj ET Q q 0 0 0 rg BT 520.76 191.30 Td (with ) Tj ET Q q 0 0 0 rg BT 536.75 191.30 Td (variable ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 181.70 Td (interest ) Tj ET Q q 0 0 0 rg BT 74.36 181.70 Td (rates. ) Tj ET Q q 0 0 0 rg BT 92.68 181.70 Td (These ) Tj ET Q q 0 0 0 rg BT 113.10 181.70 Td (contracts ) Tj ET Q q 0 0 0 rg BT 143.29 181.70 Td (are ) Tj ET Q q 0 0 0 rg BT 154.37 181.70 Td (marked ) Tj ET Q q 0 0 0 rg BT 179.68 181.70 Td (to ) Tj ET Q q 0 0 0 rg BT 187.21 181.70 Td (market ) Tj ET Q q 0 0 0 rg BT 210.74 181.70 Td (at ) Tj ET Q q 0 0 0 rg BT 217.83 181.70 Td (the ) Tj ET Q q 0 0 0 rg BT 228.92 181.70 Td (balance ) Tj ET Q q 0 0 0 rg BT 254.66 181.70 Td (sheet ) Tj ET Q q 0 0 0 rg BT 272.41 181.70 Td (date, ) Tj ET Q q 0 0 0 rg BT 289.05 181.70 Td (and ) Tj ET Q q 0 0 0 rg BT 301.92 181.70 Td (the ) Tj ET Q q 0 0 0 rg BT 313.01 181.70 Td (resultant ) Tj ET Q q 0 0 0 rg BT 341.87 181.70 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 376.50 181.70 Td (gains ) Tj ET Q q 0 0 0 rg BT 394.70 181.70 Td (and ) Tj ET Q q 0 0 0 rg BT 407.57 181.70 Td (losses ) Tj ET Q q 0 0 0 rg BT 427.99 181.70 Td (are ) Tj ET Q q 0 0 0 rg BT 439.08 181.70 Td (recorded ) Tj ET Q q 0 0 0 rg BT 468.37 181.70 Td (in ) Tj ET Q q 0 0 0 rg BT 475.91 181.70 Td (the ) Tj ET Q q 0 0 0 rg BT 487.00 181.70 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 528.75 181.70 Td (statements ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 172.10 Td (of ) Tj ET Q q 0 0 0 rg BT 58.35 172.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 93.86 172.10 Td (and ) Tj ET Q q 0 0 0 rg BT 107.60 172.10 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 158.21 172.10 Td (income, ) Tj ET Q q 0 0 0 rg BT 185.94 172.10 Td (together ) Tj ET Q q 0 0 0 rg BT 214.34 172.10 Td (with ) Tj ET Q q 0 0 0 rg BT 230.74 172.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 258.24 172.10 Td (gains ) Tj ET Q q 0 0 0 rg BT 277.31 172.10 Td (and ) Tj ET Q q 0 0 0 rg BT 291.05 172.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 312.35 172.10 Td (arising ) Tj ET Q q 0 0 0 rg BT 336.31 172.10 Td (on ) Tj ET Q q 0 0 0 rg BT 346.49 172.10 Td (settlement ) Tj ET Q q 0 0 0 rg BT 381.56 172.10 Td (of ) Tj ET Q q 0 0 0 rg BT 390.41 172.10 Td (these ) Tj ET Q q 0 0 0 rg BT 409.03 172.10 Td (contracts. ) Tj ET Q q 0 0 0 rg BT 442.09 172.10 Td (From ) Tj ET Q q 0 0 0 rg BT 461.61 172.10 Td (time ) Tj ET Q q 0 0 0 rg BT 478.02 172.10 Td (to ) Tj ET Q q 0 0 0 rg BT 486.43 172.10 Td (time, ) Tj ET Q q 0 0 0 rg BT 504.83 172.10 Td (we ) Tj ET Q q 0 0 0 rg BT 516.34 172.10 Td (may ) Tj ET Q q 0 0 0 rg BT 532.30 172.10 Td (designate ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 162.50 Td (certain ) Tj ET Q q 0 0 0 rg BT 73.26 162.50 Td (of ) Tj ET Q q 0 0 0 rg BT 81.93 162.50 Td (these ) Tj ET Q q 0 0 0 rg BT 100.36 162.50 Td (instruments ) Tj ET Q q 0 0 0 rg BT 139.70 162.50 Td (as ) Tj ET Q q 0 0 0 rg BT 148.36 162.50 Td (hedges ) Tj ET Q q 0 0 0 rg BT 172.57 162.50 Td (and ) Tj ET Q q 0 0 0 rg BT 186.13 162.50 Td (apply ) Tj ET Q q 0 0 0 rg BT 205.90 162.50 Td (hedge ) Tj ET Q q 0 0 0 rg BT 227.00 162.50 Td (accounting ) Tj ET Q q 0 0 0 rg BT 264.10 162.50 Td (as ) Tj ET Q q 0 0 0 rg BT 272.76 162.50 Td (discussed ) Tj ET Q q 0 0 0 rg BT 305.43 162.50 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.65 162.50 Td (Note ) Tj ET Q q 0 0 0 rg BT 331.20 162.50 Td (14, ) Tj ET Q q 0 0 0 rg BT 343.20 162.50 Td ("Financial ) Tj ET Q q 0 0 0 rg BT 378.23 162.50 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 418.01 162.50 Td (and ) Tj ET Q q 0 0 0 rg BT 431.56 162.50 Td (Fair ) Tj ET Q q 0 0 0 rg BT 446.30 162.50 Td (V) Tj ET Q q 0 0 0 rg BT 451.19 162.50 Td (alue ) Tj ET Q q 0 0 0 rg BT 466.52 162.50 Td (Measurements") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.43 162.50 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 143.90 Td (Stock-Based ) Tj ET Q q 0 0 0 rg BT 93.73 143.90 Td (Compensation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 128.30 Td (Stock-based ) Tj ET Q q 0 0 0 rg BT 89.91 128.30 Td (compensation ) Tj ET Q q 0 0 0 rg BT 135.66 128.30 Td (is ) Tj ET Q q 0 0 0 rg BT 142.30 128.30 Td (recognized ) Tj ET Q q 0 0 0 rg BT 178.70 128.30 Td (at ) Tj ET Q q 0 0 0 rg BT 185.79 128.30 Td (fair ) Tj ET Q q 0 0 0 rg BT 198.20 128.30 Td (value. ) Tj ET Q q 0 0 0 rg BT 218.74 128.30 Td (W) Tj ET Q q 0 0 0 rg BT 225.65 128.30 Td (e ) Tj ET Q q 0 0 0 rg BT 230.51 128.30 Td (calculate ) Tj ET Q q 0 0 0 rg BT 260.24 128.30 Td (the ) Tj ET Q q 0 0 0 rg BT 271.33 128.30 Td (fair ) Tj ET Q q 0 0 0 rg BT 283.74 128.30 Td (value ) Tj ET Q q 0 0 0 rg BT 302.37 128.30 Td (of ) Tj ET Q q 0 0 0 rg BT 310.35 128.30 Td (stock ) Tj ET Q q 0 0 0 rg BT 328.55 128.30 Td (option ) Tj ET Q q 0 0 0 rg BT 350.30 128.30 Td (awards ) Tj ET Q q 0 0 0 rg BT 374.27 128.30 Td (using ) Tj ET Q q 0 0 0 rg BT 392.92 128.30 Td (the ) Tj ET Q q 0 0 0 rg BT 404.00 128.30 Td (Black-Scholes ) Tj ET Q q 0 0 0 rg BT 451.52 128.30 Td (option ) Tj ET Q q 0 0 0 rg BT 473.28 128.30 Td (pricing ) Tj ET Q q 0 0 0 rg BT 497.25 128.30 Td (model ) Tj ET Q q 0 0 0 rg BT 518.55 128.30 Td (and ) Tj ET Q q 0 0 0 rg BT 531.42 128.30 Td (recognize ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 118.70 Td (the ) Tj ET Q q 0 0 0 rg BT 61.49 118.70 Td (compensation ) Tj ET Q q 0 0 0 rg BT 108.14 118.70 Td (cost ) Tj ET Q q 0 0 0 rg BT 123.25 118.70 Td (over ) Tj ET Q q 0 0 0 rg BT 139.68 118.70 Td (the ) Tj ET Q q 0 0 0 rg BT 151.68 118.70 Td (vesting ) Tj ET Q q 0 0 0 rg BT 177.00 118.70 Td (period ) Tj ET Q q 0 0 0 rg BT 199.66 118.70 Td (of ) Tj ET Q q 0 0 0 rg BT 208.54 118.70 Td (the ) Tj ET Q q 0 0 0 rg BT 220.54 118.70 Td (award. ) Tj ET Q q 0 0 0 rg BT 244.14 118.70 Td (The ) Tj ET Q q 0 0 0 rg BT 258.79 118.70 Td (grant ) Tj ET Q q 0 0 0 rg BT 277.45 118.70 Td (date ) Tj ET Q q 0 0 0 rg BT 292.99 118.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 306.31 118.70 Td (value ) Tj ET Q q 0 0 0 rg BT 325.86 118.70 Td (of ) Tj ET Q q 0 0 0 rg BT 334.74 118.70 Td (restricted ) Tj ET Q q 0 0 0 rg BT 366.72 118.70 Td (stock ) Tj ET Q q 0 0 0 rg BT 385.82 118.70 Td (units ) Tj ET Q q 0 0 0 rg BT 403.60 118.70 Td (\("RSUs"\) ) Tj ET Q q 0 0 0 rg BT 436.36 118.70 Td (is ) Tj ET Q q 0 0 0 rg BT 443.91 118.70 Td (calculated ) Tj ET Q q 0 0 0 rg BT 478.55 118.70 Td (as ) Tj ET Q q 0 0 0 rg BT 487.43 118.70 Td (the ) Tj ET Q q 0 0 0 rg BT 499.43 118.70 Td (closing ) Tj ET Q q 0 0 0 rg BT 524.75 118.70 Td (price ) Tj ET Q q 0 0 0 rg BT 542.96 118.70 Td (of ) Tj ET Q q 0 0 0 rg BT 551.84 118.70 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 109.10 Td (Class ) Tj ET Q q 0 0 0 rg BT 68.74 109.10 Td (A) Tj ET Q q 0 0 0 rg BT 74.07 109.10 Td ( ) Tj ET Q q 0 0 0 rg BT 76.51 109.10 Td (common ) Tj ET Q q 0 0 0 rg BT 106.95 109.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 126.28 109.10 Td (on ) Tj ET Q q 0 0 0 rg BT 136.72 109.10 Td (the ) Tj ET Q q 0 0 0 rg BT 148.93 109.10 Td (date ) Tj ET Q q 0 0 0 rg BT 164.70 109.10 Td (of ) Tj ET Q q 0 0 0 rg BT 173.80 109.10 Td (grant. ) Tj ET Q q 0 0 0 rg BT 194.68 109.10 Td (For ) Tj ET Q q 0 0 0 rg BT 208.23 109.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 232.44 109.10 Td (awards ) Tj ET Q q 0 0 0 rg BT 257.53 109.10 Td (with ) Tj ET Q q 0 0 0 rg BT 274.19 109.10 Td (market ) Tj ET Q q 0 0 0 rg BT 298.85 109.10 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 336.62 109.10 Td (the ) Tj ET Q q 0 0 0 rg BT 348.83 109.10 Td (grant ) Tj ET Q q 0 0 0 rg BT 367.71 109.10 Td (date ) Tj ET Q q 0 0 0 rg BT 383.48 109.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 397.02 109.10 Td (value ) Tj ET Q q 0 0 0 rg BT 416.78 109.10 Td (is ) Tj ET Q q 0 0 0 rg BT 424.56 109.10 Td (calculated ) Tj ET Q q 0 0 0 rg BT 459.42 109.10 Td (using ) Tj ET Q q 0 0 0 rg BT 479.20 109.10 Td (a ) Tj ET Q q 0 0 0 rg BT 485.19 109.10 Td (Monte ) Tj ET Q q 0 0 0 rg BT 508.52 109.10 Td (Carlo ) Tj ET Q q 0 0 0 rg BT 528.73 109.10 Td (simulation ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 99.50 Td (model. ) Tj ET Q q 0 0 0 rg BT 73.77 99.50 Td (The ) Tj ET Q q 0 0 0 rg BT 88.66 99.50 Td (Monte ) Tj ET Q q 0 0 0 rg BT 112.00 99.50 Td (Carlo ) Tj ET Q q 0 0 0 rg BT 132.23 99.50 Td (simulation ) Tj ET Q q 0 0 0 rg BT 168.46 99.50 Td (model ) Tj ET Q q 0 0 0 rg BT 190.91 99.50 Td (requires ) Tj ET Q q 0 0 0 rg BT 219.13 99.50 Td (the ) Tj ET Q q 0 0 0 rg BT 231.35 99.50 Td (input ) Tj ET Q q 0 0 0 rg BT 250.25 99.50 Td (of ) Tj ET Q q 0 0 0 rg BT 259.37 99.50 Td (subjective ) Tj ET Q q 0 0 0 rg BT 294.26 99.50 Td (assumptions, ) Tj ET Q q 0 0 0 rg BT 338.27 99.50 Td (including ) Tj ET Q q 0 0 0 rg BT 370.94 99.50 Td (the ) Tj ET Q q 0 0 0 rg BT 383.17 99.50 Td (expected ) Tj ET Q q 0 0 0 rg BT 414.05 99.50 Td (volatility ) Tj ET Q q 0 0 0 rg BT 445.39 99.50 Td (of ) Tj ET Q q 0 0 0 rg BT 454.50 99.50 Td (our ) Tj ET Q q 0 0 0 rg BT 467.62 99.50 Td (common ) Tj ET Q q 0 0 0 rg BT 498.07 99.50 Td (stock, ) Tj ET Q q 0 0 0 rg BT 519.41 99.50 Td (interest ) Tj ET Q q 0 0 0 rg BT 545.41 99.50 Td (rates, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 89.90 Td (dividend ) Tj ET Q q 0 0 0 rg BT 79.50 89.90 Td (yields ) Tj ET Q q 0 0 0 rg BT 100.61 89.90 Td (and ) Tj ET Q q 0 0 0 rg BT 114.16 89.90 Td (correlation ) Tj ET Q q 0 0 0 rg BT 150.80 89.90 Td (coef) Tj ET Q q 0 0 0 rg BT 164.43 89.90 Td (ficient ) Tj ET Q q 0 0 0 rg BT 186.86 89.90 Td (between ) Tj ET Q q 0 0 0 rg BT 215.51 89.90 Td (our ) Tj ET Q q 0 0 0 rg BT 228.18 89.90 Td (common ) Tj ET Q q 0 0 0 rg BT 258.17 89.90 Td (stock ) Tj ET Q q 0 0 0 rg BT 277.06 89.90 Td (and ) Tj ET Q q 0 0 0 rg BT 290.61 89.90 Td (the ) Tj ET Q q 0 0 0 rg BT 302.38 89.90 Td (relevant ) Tj ET Q q 0 0 0 rg BT 330.14 89.90 Td (market ) Tj ET Q q 0 0 0 rg BT 354.36 89.90 Td (index.) Tj ET Q endstream endobj 109 0 obj <>] /Rotate 0 /Contents 110 0 R>> endobj 110 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (52) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 723.60 Td (Contingencies) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 708.00 Td (The ) Tj ET Q q 0 0 0 rg BT 63.88 708.00 Td (estimated ) Tj ET Q q 0 0 0 rg BT 96.47 708.00 Td (loss ) Tj ET Q q 0 0 0 rg BT 110.86 708.00 Td (from ) Tj ET Q q 0 0 0 rg BT 128.34 708.00 Td (a ) Tj ET Q q 0 0 0 rg BT 133.83 708.00 Td (loss ) Tj ET Q q 0 0 0 rg BT 148.22 708.00 Td (contingency ) Tj ET Q q 0 0 0 rg BT 189.25 708.00 Td (such ) Tj ET Q q 0 0 0 rg BT 205.86 708.00 Td (as ) Tj ET Q q 0 0 0 rg BT 214.46 708.00 Td (a ) Tj ET Q q 0 0 0 rg BT 219.95 708.00 Td (legal ) Tj ET Q q 0 0 0 rg BT 237.43 708.00 Td (proceeding ) Tj ET Q q 0 0 0 rg BT 274.91 708.00 Td (or ) Tj ET Q q 0 0 0 rg BT 283.51 708.00 Td (other ) Tj ET Q q 0 0 0 rg BT 301.88 708.00 Td (claim ) Tj ET Q q 0 0 0 rg BT 321.59 708.00 Td (is ) Tj ET Q q 0 0 0 rg BT 328.86 708.00 Td (recorded ) Tj ET Q q 0 0 0 rg BT 358.78 708.00 Td (in ) Tj ET Q q 0 0 0 rg BT 366.94 708.00 Td (the ) Tj ET Q q 0 0 0 rg BT 378.65 708.00 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 421.02 708.00 Td (statements ) Tj ET Q q 0 0 0 rg BT 456.73 708.00 Td (of ) Tj ET Q q 0 0 0 rg BT 465.33 708.00 Td (operations ) Tj ET Q q 0 0 0 rg BT 500.59 708.00 Td (and ) Tj ET Q q 0 0 0 rg BT 514.08 708.00 Td (comprehensive ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 698.40 Td (income ) Tj ET Q q 0 0 0 rg BT 74.81 698.40 Td (if ) Tj ET Q q 0 0 0 rg BT 81.46 698.40 Td (it ) Tj ET Q q 0 0 0 rg BT 87.67 698.40 Td (is ) Tj ET Q q 0 0 0 rg BT 94.77 698.40 Td (probable ) Tj ET Q q 0 0 0 rg BT 124.53 698.40 Td (that ) Tj ET Q q 0 0 0 rg BT 138.29 698.40 Td (an ) Tj ET Q q 0 0 0 rg BT 147.60 698.40 Td (asset ) Tj ET Q q 0 0 0 rg BT 164.92 698.40 Td (has ) Tj ET Q q 0 0 0 rg BT 177.35 698.40 Td (been ) Tj ET Q q 0 0 0 rg BT 194.21 698.40 Td (impaired ) Tj ET Q q 0 0 0 rg BT 224.41 698.40 Td (or ) Tj ET Q q 0 0 0 rg BT 232.84 698.40 Td (a ) Tj ET Q q 0 0 0 rg BT 238.16 698.40 Td (liability ) Tj ET Q q 0 0 0 rg BT 264.81 698.40 Td (has ) Tj ET Q q 0 0 0 rg BT 277.24 698.40 Td (been ) Tj ET Q q 0 0 0 rg BT 294.10 698.40 Td (incurred ) Tj ET Q q 0 0 0 rg BT 322.52 698.40 Td (and ) Tj ET Q q 0 0 0 rg BT 335.83 698.40 Td (the ) Tj ET Q q 0 0 0 rg BT 347.37 698.40 Td (amount ) Tj ET Q q 0 0 0 rg BT 373.13 698.40 Td (of ) Tj ET Q q 0 0 0 rg BT 381.56 698.40 Td (the ) Tj ET Q q 0 0 0 rg BT 393.10 698.40 Td (loss ) Tj ET Q q 0 0 0 rg BT 407.31 698.40 Td (can ) Tj ET Q q 0 0 0 rg BT 420.18 698.40 Td (be ) Tj ET Q q 0 0 0 rg BT 429.50 698.40 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 465.91 698.40 Td (estimated. ) Tj ET Q q 0 0 0 rg BT 500.33 698.40 Td (Disclosure ) Tj ET Q q 0 0 0 rg BT 536.31 698.40 Td (of ) Tj ET Q q 0 0 0 rg BT 544.74 698.40 Td (a ) Tj ET Q q 0 0 0 rg BT 550.06 698.40 Td (loss ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 688.80 Td (contingency ) Tj ET Q q 0 0 0 rg BT 90.60 688.80 Td (is ) Tj ET Q q 0 0 0 rg BT 97.93 688.80 Td (made ) Tj ET Q q 0 0 0 rg BT 117.26 688.80 Td (if ) Tj ET Q q 0 0 0 rg BT 124.14 688.80 Td (there ) Tj ET Q q 0 0 0 rg BT 142.13 688.80 Td (is ) Tj ET Q q 0 0 0 rg BT 149.47 688.80 Td (at ) Tj ET Q q 0 0 0 rg BT 157.24 688.80 Td (least ) Tj ET Q q 0 0 0 rg BT 173.90 688.80 Td (a ) Tj ET Q q 0 0 0 rg BT 179.45 688.80 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 215.66 688.80 Td (possibility ) Tj ET Q q 0 0 0 rg BT 251.00 688.80 Td (that ) Tj ET Q q 0 0 0 rg BT 264.99 688.80 Td (a ) Tj ET Q q 0 0 0 rg BT 270.54 688.80 Td (loss ) Tj ET Q q 0 0 0 rg BT 284.99 688.80 Td (has ) Tj ET Q q 0 0 0 rg BT 297.66 688.80 Td (been ) Tj ET Q q 0 0 0 rg BT 314.76 688.80 Td (incurred.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 670.20 Td (Advertising ) Tj ET Q q 0 0 0 rg BT 91.50 670.20 Td (Costs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 654.60 Td (Advertising ) Tj ET Q q 0 0 0 rg BT 89.33 654.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 107.38 654.60 Td (are ) Tj ET Q q 0 0 0 rg BT 119.19 654.60 Td (expensed ) Tj ET Q q 0 0 0 rg BT 151.01 654.60 Td (as ) Tj ET Q q 0 0 0 rg BT 159.73 654.60 Td (incurred. ) Tj ET Q q 0 0 0 rg BT 189.98 654.60 Td (Advertising ) Tj ET Q q 0 0 0 rg BT 229.80 654.60 Td (expense ) Tj ET Q q 0 0 0 rg BT 257.62 654.60 Td (incurred ) Tj ET Q q 0 0 0 rg BT 286.33 654.60 Td (for ) Tj ET Q q 0 0 0 rg BT 297.71 654.60 Td (the ) Tj ET Q q 0 0 0 rg BT 309.53 654.60 Td (years ) Tj ET Q q 0 0 0 rg BT 328.46 654.60 Td (ending ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.29 654.60 Td (December31, ) Tj ET Q q 0 0 0 rg BT 399.21 654.60 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.21 654.60 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 419.26 654.60 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.26 654.60 Td ( ) Tj ET Q q 0 0 0 rg BT 437.31 654.60 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.91 654.60 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.91 654.60 Td ( ) Tj ET Q q 0 0 0 rg BT 468.96 654.60 Td (totaled ) Tj ET Q q 0 0 0 rg BT 492.78 654.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 509.06 654.60 Td (3.7 ) Tj ET Q q 0 0 0 rg BT 521.11 654.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.23 654.60 Td (, ) Tj ET Q q 0 0 0 rg BT 548.28 654.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 645.00 Td (6.0 ) Tj ET Q q 0 0 0 rg BT 61.50 645.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 84.61 645.00 Td ( ) Tj ET Q q 0 0 0 rg BT 86.61 645.00 Td (and ) Tj ET Q q 0 0 0 rg BT 100.16 645.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 116.39 645.00 Td (5.7 ) Tj ET Q q 0 0 0 rg BT 128.39 645.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 151.50 645.00 Td (, ) Tj ET Q q 0 0 0 rg BT 155.50 645.00 Td (respectively) Tj ET Q q 0 0 0 rg BT 193.63 645.00 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 626.40 Td (Earnings ) Tj ET Q q 0 0 0 rg BT 82.62 626.40 Td (Per) Tj ET Q q 0 0 0 rg BT 94.46 626.40 Td ( ) Tj ET Q q 0 0 0 rg BT 96.46 626.40 Td (Shar) Tj ET Q q 0 0 0 rg BT 112.77 626.40 Td (e) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 610.80 Td (Basic ) Tj ET Q q 0 0 0 rg BT 69.29 610.80 Td (and ) Tj ET Q q 0 0 0 rg BT 82.86 610.80 Td (diluted ) Tj ET Q q 0 0 0 rg BT 107.10 610.80 Td (net ) Tj ET Q q 0 0 0 rg BT 118.89 610.80 Td (income ) Tj ET Q q 0 0 0 rg BT 144.45 610.80 Td (/ ) Tj ET Q q 0 0 0 rg BT 148.69 610.80 Td (loss ) Tj ET Q q 0 0 0 rg BT 163.16 610.80 Td (per ) Tj ET Q q 0 0 0 rg BT 175.39 610.80 Td (share ) Tj ET Q q 0 0 0 rg BT 194.29 610.80 Td (is ) Tj ET Q q 0 0 0 rg BT 201.64 610.80 Td (calculated ) Tj ET Q q 0 0 0 rg BT 236.08 610.80 Td (using ) Tj ET Q q 0 0 0 rg BT 255.43 610.80 Td (the ) Tj ET Q q 0 0 0 rg BT 267.22 610.80 Td (two-class ) Tj ET Q q 0 0 0 rg BT 299.46 610.80 Td (method. ) Tj ET Q q 0 0 0 rg BT 327.47 610.80 Td (Under ) Tj ET Q q 0 0 0 rg BT 349.48 610.80 Td (the ) Tj ET Q q 0 0 0 rg BT 361.27 610.80 Td (two-class ) Tj ET Q q 0 0 0 rg BT 393.50 610.80 Td (method, ) Tj ET Q q 0 0 0 rg BT 421.52 610.80 Td (basic ) Tj ET Q q 0 0 0 rg BT 439.97 610.80 Td (net ) Tj ET Q q 0 0 0 rg BT 451.76 610.80 Td (income ) Tj ET Q q 0 0 0 rg BT 477.33 610.80 Td (/ ) Tj ET Q q 0 0 0 rg BT 481.57 610.80 Td (loss ) Tj ET Q q 0 0 0 rg BT 496.04 610.80 Td (per ) Tj ET Q q 0 0 0 rg BT 508.27 610.80 Td (common ) Tj ET Q q 0 0 0 rg BT 538.28 610.80 Td (share ) Tj ET Q q 0 0 0 rg BT 557.18 610.80 Td (is ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 601.20 Td (computed ) Tj ET Q q 0 0 0 rg BT 82.91 601.20 Td (by ) Tj ET Q q 0 0 0 rg BT 92.78 601.20 Td (dividing ) Tj ET Q q 0 0 0 rg BT 121.32 601.20 Td (the ) Tj ET Q q 0 0 0 rg BT 132.96 601.20 Td (net ) Tj ET Q q 0 0 0 rg BT 144.60 601.20 Td (income ) Tj ET Q q 0 0 0 rg BT 170.01 601.20 Td (available ) Tj ET Q q 0 0 0 rg BT 200.75 601.20 Td (to ) Tj ET Q q 0 0 0 rg BT 208.84 601.20 Td (common ) Tj ET Q q 0 0 0 rg BT 238.70 601.20 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 281.00 601.20 Td (after ) Tj ET Q q 0 0 0 rg BT 297.52 601.20 Td (deducting ) Tj ET Q q 0 0 0 rg BT 330.93 601.20 Td (contractual ) Tj ET Q q 0 0 0 rg BT 368.34 601.20 Td (amounts ) Tj ET Q q 0 0 0 rg BT 397.31 601.20 Td (of ) Tj ET Q q 0 0 0 rg BT 405.84 601.20 Td (accretion ) Tj ET Q q 0 0 0 rg BT 437.02 601.20 Td (on ) Tj ET Q q 0 0 0 rg BT 446.89 601.20 Td (our ) Tj ET Q q 0 0 0 rg BT 459.42 601.20 Td (Series ) Tj ET Q q 0 0 0 rg BT 480.84 601.20 Td (B ) Tj ET Q q 0 0 0 rg BT 488.04 601.20 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 519.67 601.20 Td (Shares ) Tj ET Q q 0 0 0 rg BT 542.86 601.20 Td (by ) Tj ET Q q 0 0 0 rg BT 552.73 601.20 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 591.60 Td (weighted-average ) Tj ET Q q 0 0 0 rg BT 108.37 591.60 Td (number ) Tj ET Q q 0 0 0 rg BT 134.81 591.60 Td (of ) Tj ET Q q 0 0 0 rg BT 143.49 591.60 Td (common ) Tj ET Q q 0 0 0 rg BT 173.50 591.60 Td (shares ) Tj ET Q q 0 0 0 rg BT 195.50 591.60 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 234.84 591.60 Td (during ) Tj ET Q q 0 0 0 rg BT 257.74 591.60 Td (the ) Tj ET Q q 0 0 0 rg BT 269.52 591.60 Td (period. ) Tj ET Q q 0 0 0 rg BT 293.97 591.60 Td (Diluted ) Tj ET Q q 0 0 0 rg BT 319.98 591.60 Td (net ) Tj ET Q q 0 0 0 rg BT 331.76 591.60 Td (income ) Tj ET Q q 0 0 0 rg BT 357.32 591.60 Td (/ ) Tj ET Q q 0 0 0 rg BT 361.55 591.60 Td (loss ) Tj ET Q q 0 0 0 rg BT 376.01 591.60 Td (per ) Tj ET Q q 0 0 0 rg BT 388.24 591.60 Td (share ) Tj ET Q q 0 0 0 rg BT 407.13 591.60 Td (is ) Tj ET Q q 0 0 0 rg BT 414.48 591.60 Td (computed ) Tj ET Q q 0 0 0 rg BT 448.03 591.60 Td (by ) Tj ET Q q 0 0 0 rg BT 458.04 591.60 Td (dividing ) Tj ET Q q 0 0 0 rg BT 486.72 591.60 Td (the ) Tj ET Q q 0 0 0 rg BT 498.51 591.60 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 527.18 591.60 Td (net ) Tj ET Q q 0 0 0 rg BT 538.96 591.60 Td (income ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 582.00 Td (by ) Tj ET Q q 0 0 0 rg BT 59.50 582.00 Td (the ) Tj ET Q q 0 0 0 rg BT 71.27 582.00 Td (weighted-average ) Tj ET Q q 0 0 0 rg BT 130.13 582.00 Td (number ) Tj ET Q q 0 0 0 rg BT 156.57 582.00 Td (of ) Tj ET Q q 0 0 0 rg BT 165.23 582.00 Td (dilutive ) Tj ET Q q 0 0 0 rg BT 191.67 582.00 Td (shares ) Tj ET Q q 0 0 0 rg BT 213.66 582.00 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 253.00 582.00 Td (during ) Tj ET Q q 0 0 0 rg BT 275.88 582.00 Td (the ) Tj ET Q q 0 0 0 rg BT 287.66 582.00 Td (period. ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 563.40 Td (Business ) Tj ET Q q 0 0 0 rg BT 80.85 563.40 Td (Combinations ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 547.80 Td (When ) Tj ET Q q 0 0 0 rg BT 70.55 547.80 Td (we ) Tj ET Q q 0 0 0 rg BT 81.83 547.80 Td (acquire ) Tj ET Q q 0 0 0 rg BT 107.32 547.80 Td (a ) Tj ET Q q 0 0 0 rg BT 112.82 547.80 Td (business, ) Tj ET Q q 0 0 0 rg BT 143.88 547.80 Td (we ) Tj ET Q q 0 0 0 rg BT 155.16 547.80 Td (allocate ) Tj ET Q q 0 0 0 rg BT 181.98 547.80 Td (the ) Tj ET Q q 0 0 0 rg BT 193.70 547.80 Td (purchase ) Tj ET Q q 0 0 0 rg BT 224.08 547.80 Td (price ) Tj ET Q q 0 0 0 rg BT 242.02 547.80 Td (to ) Tj ET Q q 0 0 0 rg BT 250.19 547.80 Td (the ) Tj ET Q q 0 0 0 rg BT 261.91 547.80 Td (various ) Tj ET Q q 0 0 0 rg BT 287.41 547.80 Td (components ) Tj ET Q q 0 0 0 rg BT 328.02 547.80 Td (of ) Tj ET Q q 0 0 0 rg BT 336.63 547.80 Td (the ) Tj ET Q q 0 0 0 rg BT 348.36 547.80 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 385.41 547.80 Td (based ) Tj ET Q q 0 0 0 rg BT 405.57 547.80 Td (upon ) Tj ET Q q 0 0 0 rg BT 423.52 547.80 Td (the ) Tj ET Q q 0 0 0 rg BT 435.25 547.80 Td (fair ) Tj ET Q q 0 0 0 rg BT 448.30 547.80 Td (value ) Tj ET Q q 0 0 0 rg BT 467.57 547.80 Td (of ) Tj ET Q q 0 0 0 rg BT 476.18 547.80 Td (each ) Tj ET Q q 0 0 0 rg BT 492.79 547.80 Td (component. ) Tj ET Q q 0 0 0 rg BT 532.28 547.80 Td (Goodwill ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 538.20 Td (represents ) Tj ET Q q 0 0 0 rg BT 83.88 538.20 Td (the ) Tj ET Q q 0 0 0 rg BT 95.61 538.20 Td (excess ) Tj ET Q q 0 0 0 rg BT 118.44 538.20 Td (of ) Tj ET Q q 0 0 0 rg BT 127.05 538.20 Td (the ) Tj ET Q q 0 0 0 rg BT 138.78 538.20 Td (purchase ) Tj ET Q q 0 0 0 rg BT 169.16 538.20 Td (price ) Tj ET Q q 0 0 0 rg BT 187.10 538.20 Td (over ) Tj ET Q q 0 0 0 rg BT 203.26 538.20 Td (the ) Tj ET Q q 0 0 0 rg BT 214.99 538.20 Td (fair ) Tj ET Q q 0 0 0 rg BT 228.04 538.20 Td (value ) Tj ET Q q 0 0 0 rg BT 247.31 538.20 Td (of ) Tj ET Q q 0 0 0 rg BT 255.93 538.20 Td (net ) Tj ET Q q 0 0 0 rg BT 267.65 538.20 Td (tangible ) Tj ET Q q 0 0 0 rg BT 295.38 538.20 Td (and ) Tj ET Q q 0 0 0 rg BT 308.88 538.20 Td (intangible ) Tj ET Q q 0 0 0 rg BT 342.82 538.20 Td (assets ) Tj ET Q q 0 0 0 rg BT 363.44 538.20 Td (acquired ) Tj ET Q q 0 0 0 rg BT 392.93 538.20 Td (in ) Tj ET Q q 0 0 0 rg BT 401.10 538.20 Td (a ) Tj ET Q q 0 0 0 rg BT 406.60 538.20 Td (business ) Tj ET Q q 0 0 0 rg BT 435.67 538.20 Td (combination. ) Tj ET Q q 0 0 0 rg BT 479.18 538.20 Td (A) Tj ET Q q 0 0 0 rg BT 484.51 538.20 Td ( ) Tj ET Q q 0 0 0 rg BT 486.47 538.20 Td (gain ) Tj ET Q q 0 0 0 rg BT 502.19 538.20 Td (may ) Tj ET Q q 0 0 0 rg BT 517.92 538.20 Td (be ) Tj ET Q q 0 0 0 rg BT 527.42 538.20 Td (recognized ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 528.60 Td (to ) Tj ET Q q 0 0 0 rg BT 57.81 528.60 Td (the ) Tj ET Q q 0 0 0 rg BT 69.68 528.60 Td (extent ) Tj ET Q q 0 0 0 rg BT 91.32 528.60 Td (the ) Tj ET Q q 0 0 0 rg BT 103.18 528.60 Td (purchase ) Tj ET Q q 0 0 0 rg BT 133.71 528.60 Td (price ) Tj ET Q q 0 0 0 rg BT 151.79 528.60 Td (is ) Tj ET Q q 0 0 0 rg BT 159.21 528.60 Td (less ) Tj ET Q q 0 0 0 rg BT 173.30 528.60 Td (than ) Tj ET Q q 0 0 0 rg BT 189.17 528.60 Td (the ) Tj ET Q q 0 0 0 rg BT 201.04 528.60 Td (fair ) Tj ET Q q 0 0 0 rg BT 214.23 528.60 Td (value ) Tj ET Q q 0 0 0 rg BT 233.64 528.60 Td (of ) Tj ET Q q 0 0 0 rg BT 242.40 528.60 Td (net ) Tj ET Q q 0 0 0 rg BT 254.27 528.60 Td (tangible ) Tj ET Q q 0 0 0 rg BT 282.13 528.60 Td (and ) Tj ET Q q 0 0 0 rg BT 295.77 528.60 Td (intangible ) Tj ET Q q 0 0 0 rg BT 329.85 528.60 Td (assets ) Tj ET Q q 0 0 0 rg BT 350.61 528.60 Td (acquired. ) Tj ET Q q 0 0 0 rg BT 382.09 528.60 Td (T) Tj ET Q q 0 0 0 rg BT 386.69 528.60 Td (ransaction ) Tj ET Q q 0 0 0 rg BT 421.66 528.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 439.75 528.60 Td (related ) Tj ET Q q 0 0 0 rg BT 463.61 528.60 Td (to ) Tj ET Q q 0 0 0 rg BT 471.92 528.60 Td (the ) Tj ET Q q 0 0 0 rg BT 483.79 528.60 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 520.98 528.60 Td (of ) Tj ET Q q 0 0 0 rg BT 529.74 528.60 Td (a ) Tj ET Q q 0 0 0 rg BT 535.38 528.60 Td (business ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 519.00 Td (are ) Tj ET Q q 0 0 0 rg BT 61.27 519.00 Td (expensed ) Tj ET Q q 0 0 0 rg BT 93.03 519.00 Td (as ) Tj ET Q q 0 0 0 rg BT 101.70 519.00 Td (incurred.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 503.40 Td (Discontinued ) Tj ET Q q 0 0 0 rg BT 96.40 503.40 Td (Operations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 487.80 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 487.80 Td (e ) Tj ET Q q 0 0 0 rg BT 61.42 487.80 Td (present ) Tj ET Q q 0 0 0 rg BT 85.99 487.80 Td (our ) Tj ET Q q 0 0 0 rg BT 98.12 487.80 Td (results ) Tj ET Q q 0 0 0 rg BT 120.46 487.80 Td (of ) Tj ET Q q 0 0 0 rg BT 128.59 487.80 Td (operations, ) Tj ET Q q 0 0 0 rg BT 165.38 487.80 Td (financial ) Tj ET Q q 0 0 0 rg BT 194.83 487.80 Td (position ) Tj ET Q q 0 0 0 rg BT 222.07 487.80 Td (and ) Tj ET Q q 0 0 0 rg BT 235.08 487.80 Td (cash ) Tj ET Q q 0 0 0 rg BT 250.76 487.80 Td (flows ) Tj ET Q q 0 0 0 rg BT 270.00 487.80 Td (of ) Tj ET Q q 0 0 0 rg BT 278.13 487.80 Td (operations ) Tj ET Q q 0 0 0 rg BT 312.92 487.80 Td (that ) Tj ET Q q 0 0 0 rg BT 326.38 487.80 Td (have ) Tj ET Q q 0 0 0 rg BT 342.94 487.80 Td (either ) Tj ET Q q 0 0 0 rg BT 362.61 487.80 Td (been ) Tj ET Q q 0 0 0 rg BT 379.18 487.80 Td (sold ) Tj ET Q q 0 0 0 rg BT 393.98 487.80 Td (or ) Tj ET Q q 0 0 0 rg BT 402.10 487.80 Td (that ) Tj ET Q q 0 0 0 rg BT 415.56 487.80 Td (meet ) Tj ET Q q 0 0 0 rg BT 432.57 487.80 Td (the ) Tj ET Q q 0 0 0 rg BT 443.81 487.80 Td (criteria ) Tj ET Q q 0 0 0 rg BT 467.92 487.80 Td (for ) Tj ET Q q 0 0 0 rg BT 478.71 487.80 Td ("held-for) Tj ET Q q 0 0 0 rg BT 507.58 487.80 Td (-sale ) Tj ET Q q 0 0 0 rg BT 524.15 487.80 Td (accounting" ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 478.20 Td (as ) Tj ET Q q 0 0 0 rg BT 58.12 478.20 Td (discontinued ) Tj ET Q q 0 0 0 rg BT 100.96 478.20 Td (operations ) Tj ET Q q 0 0 0 rg BT 136.23 478.20 Td (if ) Tj ET Q q 0 0 0 rg BT 143.07 478.20 Td (the ) Tj ET Q q 0 0 0 rg BT 154.80 478.20 Td (cash ) Tj ET Q q 0 0 0 rg BT 170.97 478.20 Td (flows ) Tj ET Q q 0 0 0 rg BT 190.70 478.20 Td (associated ) Tj ET Q q 0 0 0 rg BT 225.53 478.20 Td (with ) Tj ET Q q 0 0 0 rg BT 241.71 478.20 Td (the ) Tj ET Q q 0 0 0 rg BT 253.44 478.20 Td (group ) Tj ET Q q 0 0 0 rg BT 274.05 478.20 Td (of ) Tj ET Q q 0 0 0 rg BT 282.67 478.20 Td (assets ) Tj ET Q q 0 0 0 rg BT 303.29 478.20 Td (will ) Tj ET Q q 0 0 0 rg BT 317.69 478.20 Td (be ) Tj ET Q q 0 0 0 rg BT 327.19 478.20 Td (significantly ) Tj ET Q q 0 0 0 rg BT 369.14 478.20 Td (eliminated ) Tj ET Q q 0 0 0 rg BT 404.86 478.20 Td (from ) Tj ET Q q 0 0 0 rg BT 422.37 478.20 Td (the ) Tj ET Q q 0 0 0 rg BT 434.09 478.20 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 462.27 478.20 Td (operations ) Tj ET Q q 0 0 0 rg BT 497.55 478.20 Td (of ) Tj ET Q q 0 0 0 rg BT 506.17 478.20 Td (the ) Tj ET Q q 0 0 0 rg BT 517.89 478.20 Td (Company ) Tj ET Q q 0 0 0 rg BT 550.96 478.20 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 468.60 Td (we ) Tj ET Q q 0 0 0 rg BT 60.00 468.60 Td (will ) Tj ET Q q 0 0 0 rg BT 73.63 468.60 Td (have ) Tj ET Q q 0 0 0 rg BT 89.91 468.60 Td (no ) Tj ET Q q 0 0 0 rg BT 99.08 468.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 134.03 468.60 Td (continuing ) Tj ET Q q 0 0 0 rg BT 169.42 468.60 Td (involvement ) Tj ET Q q 0 0 0 rg BT 210.59 468.60 Td (in ) Tj ET Q q 0 0 0 rg BT 217.99 468.60 Td (the ) Tj ET Q q 0 0 0 rg BT 228.94 468.60 Td (group ) Tj ET Q q 0 0 0 rg BT 248.78 468.60 Td (of ) Tj ET Q q 0 0 0 rg BT 256.62 468.60 Td (assets ) Tj ET Q q 0 0 0 rg BT 276.46 468.60 Td (after ) Tj ET Q q 0 0 0 rg BT 292.29 468.60 Td (the ) Tj ET Q q 0 0 0 rg BT 303.24 468.60 Td (disposal ) Tj ET Q q 0 0 0 rg BT 330.64 468.60 Td (transaction. ) Tj ET Q q 0 0 0 rg BT 368.66 468.60 Td (At ) Tj ET Q q 0 0 0 rg BT 377.83 468.60 Td (the ) Tj ET Q q 0 0 0 rg BT 388.79 468.60 Td (time ) Tj ET Q q 0 0 0 rg BT 404.18 468.60 Td (an ) Tj ET Q q 0 0 0 rg BT 412.91 468.60 Td (operation ) Tj ET Q q 0 0 0 rg BT 444.30 468.60 Td (qualifies ) Tj ET Q q 0 0 0 rg BT 473.02 468.60 Td (for ) Tj ET Q q 0 0 0 rg BT 483.52 468.60 Td (held-for) Tj ET Q q 0 0 0 rg BT 509.13 468.60 Td (-sale ) Tj ET Q q 0 0 0 rg BT 525.41 468.60 Td (accounting, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 459.00 Td (the ) Tj ET Q q 0 0 0 rg BT 60.96 459.00 Td (operation ) Tj ET Q q 0 0 0 rg BT 92.86 459.00 Td (is ) Tj ET Q q 0 0 0 rg BT 99.88 459.00 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 132.21 459.00 Td (to ) Tj ET Q q 0 0 0 rg BT 140.12 459.00 Td (determine ) Tj ET Q q 0 0 0 rg BT 173.79 459.00 Td (whether ) Tj ET Q q 0 0 0 rg BT 201.24 459.00 Td (or ) Tj ET Q q 0 0 0 rg BT 209.59 459.00 Td (not ) Tj ET Q q 0 0 0 rg BT 221.50 459.00 Td (the ) Tj ET Q q 0 0 0 rg BT 232.96 459.00 Td (carrying ) Tj ET Q q 0 0 0 rg BT 261.29 459.00 Td (amount ) Tj ET Q q 0 0 0 rg BT 286.98 459.00 Td (exceeds ) Tj ET Q q 0 0 0 rg BT 313.98 459.00 Td (its ) Tj ET Q q 0 0 0 rg BT 323.22 459.00 Td (fair ) Tj ET Q q 0 0 0 rg BT 336.01 459.00 Td (value ) Tj ET Q q 0 0 0 rg BT 355.02 459.00 Td (less ) Tj ET Q q 0 0 0 rg BT 368.71 459.00 Td (cost ) Tj ET Q q 0 0 0 rg BT 383.28 459.00 Td (to ) Tj ET Q q 0 0 0 rg BT 391.19 459.00 Td (sell. ) Tj ET Q q 0 0 0 rg BT 405.61 459.00 Td (Any ) Tj ET Q q 0 0 0 rg BT 421.07 459.00 Td (loss ) Tj ET Q q 0 0 0 rg BT 435.21 459.00 Td (as ) Tj ET Q q 0 0 0 rg BT 443.56 459.00 Td (a ) Tj ET Q q 0 0 0 rg BT 448.79 459.00 Td (result ) Tj ET Q q 0 0 0 rg BT 468.25 459.00 Td (of ) Tj ET Q q 0 0 0 rg BT 476.60 459.00 Td (carrying ) Tj ET Q q 0 0 0 rg BT 504.94 459.00 Td (amounts ) Tj ET Q q 0 0 0 rg BT 533.73 459.00 Td (in ) Tj ET Q q 0 0 0 rg BT 541.64 459.00 Td (excess ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 449.40 Td (of ) Tj ET Q q 0 0 0 rg BT 58.48 449.40 Td (fair ) Tj ET Q q 0 0 0 rg BT 71.91 449.40 Td (value ) Tj ET Q q 0 0 0 rg BT 91.55 449.40 Td (less ) Tj ET Q q 0 0 0 rg BT 105.87 449.40 Td (cost ) Tj ET Q q 0 0 0 rg BT 121.08 449.40 Td (to ) Tj ET Q q 0 0 0 rg BT 129.62 449.40 Td (sell ) Tj ET Q q 0 0 0 rg BT 143.05 449.40 Td (is ) Tj ET Q q 0 0 0 rg BT 150.71 449.40 Td (recorded ) Tj ET Q q 0 0 0 rg BT 181.01 449.40 Td (in ) Tj ET Q q 0 0 0 rg BT 189.55 449.40 Td (the ) Tj ET Q q 0 0 0 rg BT 201.64 449.40 Td (period ) Tj ET Q q 0 0 0 rg BT 224.40 449.40 Td (the ) Tj ET Q q 0 0 0 rg BT 236.50 449.40 Td (operation ) Tj ET Q q 0 0 0 rg BT 269.03 449.40 Td (meets ) Tj ET Q q 0 0 0 rg BT 290.01 449.40 Td (held-for) Tj ET Q q 0 0 0 rg BT 315.61 449.40 Td (-sale ) Tj ET Q q 0 0 0 rg BT 333.04 449.40 Td (accounting. ) Tj ET Q q 0 0 0 rg BT 372.45 449.40 Td (Management ) Tj ET Q q 0 0 0 rg BT 416.54 449.40 Td (judgment ) Tj ET Q q 0 0 0 rg BT 449.07 449.40 Td (is ) Tj ET Q q 0 0 0 rg BT 456.73 449.40 Td (required ) Tj ET Q q 0 0 0 rg BT 485.70 449.40 Td (to ) Tj ET Q q 0 0 0 rg BT 494.25 449.40 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 505.89 449.40 Td (assess ) Tj ET Q q 0 0 0 rg BT 527.77 449.40 Td (the ) Tj ET Q q 0 0 0 rg BT 539.86 449.40 Td (criteria ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 439.80 Td (required ) Tj ET Q q 0 0 0 rg BT 78.44 439.80 Td (to ) Tj ET Q q 0 0 0 rg BT 86.95 439.80 Td (meet ) Tj ET Q q 0 0 0 rg BT 104.79 439.80 Td (held-for) Tj ET Q q 0 0 0 rg BT 130.39 439.80 Td (-sale ) Tj ET Q q 0 0 0 rg BT 147.78 439.80 Td (accounting, ) Tj ET Q q 0 0 0 rg BT 187.17 439.80 Td (and ) Tj ET Q q 0 0 0 rg BT 201.01 439.80 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 212.62 439.80 Td (estimate ) Tj ET Q q 0 0 0 rg BT 241.57 439.80 Td (fair ) Tj ET Q q 0 0 0 rg BT 254.96 439.80 Td (value. ) Tj ET Q q 0 0 0 rg BT 276.57 439.80 Td (Changes ) Tj ET Q q 0 0 0 rg BT 306.41 439.80 Td (to ) Tj ET Q q 0 0 0 rg BT 314.92 439.80 Td (the ) Tj ET Q q 0 0 0 rg BT 326.98 439.80 Td (operation ) Tj ET Q q 0 0 0 rg BT 359.48 439.80 Td (could ) Tj ET Q q 0 0 0 rg BT 379.54 439.80 Td (cause ) Tj ET Q q 0 0 0 rg BT 399.59 439.80 Td (it ) Tj ET Q q 0 0 0 rg BT 406.33 439.80 Td (to ) Tj ET Q q 0 0 0 rg BT 414.84 439.80 Td (no ) Tj ET Q q 0 0 0 rg BT 425.13 439.80 Td (longer ) Tj ET Q q 0 0 0 rg BT 447.85 439.80 Td (qualify ) Tj ET Q q 0 0 0 rg BT 472.80 439.80 Td (for ) Tj ET Q q 0 0 0 rg BT 484.42 439.80 Td (held-for) Tj ET Q q 0 0 0 rg BT 510.02 439.80 Td (-sale ) Tj ET Q q 0 0 0 rg BT 527.41 439.80 Td (accounting ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 430.20 Td (and ) Tj ET Q q 0 0 0 rg BT 63.57 430.20 Td (changes ) Tj ET Q q 0 0 0 rg BT 91.85 430.20 Td (to ) Tj ET Q q 0 0 0 rg BT 100.59 430.20 Td (fair ) Tj ET Q q 0 0 0 rg BT 114.21 430.20 Td (value ) Tj ET Q q 0 0 0 rg BT 134.06 430.20 Td (could ) Tj ET Q q 0 0 0 rg BT 154.35 430.20 Td (result ) Tj ET Q q 0 0 0 rg BT 174.64 430.20 Td (in ) Tj ET Q q 0 0 0 rg BT 183.38 430.20 Td (an ) Tj ET Q q 0 0 0 rg BT 193.45 430.20 Td (increase ) Tj ET Q q 0 0 0 rg BT 222.17 430.20 Td (or ) Tj ET Q q 0 0 0 rg BT 231.36 430.20 Td (decrease ) Tj ET Q q 0 0 0 rg BT 261.41 430.20 Td (to ) Tj ET Q q 0 0 0 rg BT 270.15 430.20 Td (previously ) Tj ET Q q 0 0 0 rg BT 306.44 430.20 Td (recognized ) Tj ET Q q 0 0 0 rg BT 344.05 430.20 Td (losses. ) Tj ET Q q 0 0 0 rg BT 367.68 430.20 Td (In ) Tj ET Q q 0 0 0 rg BT 376.86 430.20 Td (2014, ) Tj ET Q q 0 0 0 rg BT 397.38 430.20 Td (we ) Tj ET Q q 0 0 0 rg BT 409.23 430.20 Td (classified ) Tj ET Q q 0 0 0 rg BT 441.96 430.20 Td (certain ) Tj ET Q q 0 0 0 rg BT 466.24 430.20 Td (of ) Tj ET Q q 0 0 0 rg BT 475.42 430.20 Td (our ) Tj ET Q q 0 0 0 rg BT 488.60 430.20 Td (non-core ) Tj ET Q q 0 0 0 rg BT 519.55 430.20 Td (businesses ) Tj ET Q q 0 0 0 rg BT 555.85 430.20 Td (as ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 420.60 Td (discontinued ) Tj ET Q q 0 0 0 rg BT 92.38 420.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 127.71 420.60 Td (and ) Tj ET Q q 0 0 0 rg BT 141.26 420.60 Td (held-for) Tj ET Q q 0 0 0 rg BT 166.86 420.60 Td (-sale ) Tj ET Q q 0 0 0 rg BT 183.96 420.60 Td (for ) Tj ET Q q 0 0 0 rg BT 195.29 420.60 Td (all ) Tj ET Q q 0 0 0 rg BT 205.29 420.60 Td (periods ) Tj ET Q q 0 0 0 rg BT 230.84 420.60 Td (presented ) Tj ET Q q 0 0 0 rg BT 263.49 420.60 Td (\(see ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.37 420.60 Td (Note ) Tj ET Q q 0 0 0 rg BT 295.92 420.60 Td (3, ) Tj ET Q q 0 0 0 rg BT 303.92 420.60 Td ("Discontinued ) Tj ET Q q 0 0 0 rg BT 351.85 420.60 Td (Operations ) Tj ET Q q 0 0 0 rg BT 388.95 420.60 Td (and ) Tj ET Q q 0 0 0 rg BT 402.06 420.60 Td (Assets ) Tj ET Q q 0 0 0 rg BT 424.95 420.60 Td (Held ) Tj ET Q q 0 0 0 rg BT 442.50 420.60 Td (for ) Tj ET Q q 0 0 0 rg BT 453.83 420.60 Td (Sale") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 470.87 420.60 Td (\).) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 402.00 Td (Recent ) Tj ET Q q 0 0 0 rg BT 74.60 402.00 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 115.71 402.00 Td (Pr) Tj ET Q q 0 0 0 rg BT 124.01 402.00 Td (onouncements) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 383.40 Td (Accounting Pr) Tj ET Q q 0 0 0 rg BT 95.64 383.40 Td (onouncements ) Tj ET Q q 0 0 0 rg BT 143.26 383.40 Td (Adopted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 367.80 Td (There ) Tj ET Q q 0 0 0 rg BT 70.15 367.80 Td (are ) Tj ET Q q 0 0 0 rg BT 81.92 367.80 Td (no ) Tj ET Q q 0 0 0 rg BT 91.92 367.80 Td (accounting ) Tj ET Q q 0 0 0 rg BT 129.02 367.80 Td (pronouncements ) Tj ET Q q 0 0 0 rg BT 183.89 367.80 Td (adopted ) Tj ET Q q 0 0 0 rg BT 211.21 367.80 Td (in ) Tj ET Q q 0 0 0 rg BT 219.44 367.80 Td (the ) Tj ET Q q 0 0 0 rg BT 231.21 367.80 Td (current ) Tj ET Q q 0 0 0 rg BT 255.86 367.80 Td (period ) Tj ET Q q 0 0 0 rg BT 278.30 367.80 Td (that ) Tj ET Q q 0 0 0 rg BT 292.30 367.80 Td (are ) Tj ET Q q 0 0 0 rg BT 304.06 367.80 Td (expected ) Tj ET Q q 0 0 0 rg BT 334.49 367.80 Td (to ) Tj ET Q q 0 0 0 rg BT 342.71 367.80 Td (have ) Tj ET Q q 0 0 0 rg BT 359.81 367.80 Td (an ) Tj ET Q q 0 0 0 rg BT 369.36 367.80 Td (impact ) Tj ET Q q 0 0 0 rg BT 393.13 367.80 Td (on ) Tj ET Q q 0 0 0 rg BT 403.13 367.80 Td (our ) Tj ET Q q 0 0 0 rg BT 415.80 367.80 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 458.23 367.80 Td (financial ) Tj ET Q q 0 0 0 rg BT 488.21 367.80 Td (statements.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 349.20 Td (Recent ) Tj ET Q q 0 0 0 rg BT 73.12 349.20 Td (Accounting Pr) Tj ET Q q 0 0 0 rg BT 119.25 349.20 Td (onouncements Issued) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 333.60 Td (In ) Tj ET Q q 0 0 0 rg BT 57.73 333.60 Td (April ) Tj ET Q q 0 0 0 rg BT 76.61 333.60 Td (2014, ) Tj ET Q q 0 0 0 rg BT 96.62 333.60 Td (the ) Tj ET Q q 0 0 0 rg BT 108.39 333.60 Td (Financial ) Tj ET Q q 0 0 0 rg BT 139.72 333.60 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 179.05 333.60 Td (Standards ) Tj ET Q q 0 0 0 rg BT 212.61 333.60 Td (Board ) Tj ET Q q 0 0 0 rg BT 234.16 333.60 Td (\(the ) Tj ET Q q 0 0 0 rg BT 248.60 333.60 Td ("F) Tj ET Q q 0 0 0 rg BT 255.72 333.60 Td (ASB"\) ) Tj ET Q q 0 0 0 rg BT 279.22 333.60 Td (issued ) Tj ET Q q 0 0 0 rg BT 301.22 333.60 Td (guidance ) Tj ET Q q 0 0 0 rg BT 332.10 333.60 Td (which ) Tj ET Q q 0 0 0 rg BT 353.65 333.60 Td (is ) Tj ET Q q 0 0 0 rg BT 360.99 333.60 Td (intended ) Tj ET Q q 0 0 0 rg BT 390.54 333.60 Td (to ) Tj ET Q q 0 0 0 rg BT 398.76 333.60 Td (change ) Tj ET Q q 0 0 0 rg BT 423.42 333.60 Td (the ) Tj ET Q q 0 0 0 rg BT 435.20 333.60 Td (requirements ) Tj ET Q q 0 0 0 rg BT 478.96 333.60 Td (for ) Tj ET Q q 0 0 0 rg BT 490.29 333.60 Td (reporting ) Tj ET Q q 0 0 0 rg BT 521.62 333.60 Td (discontinued ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 324.00 Td (operations. ) Tj ET Q q 0 0 0 rg BT 86.40 324.00 Td (Upon ) Tj ET Q q 0 0 0 rg BT 105.76 324.00 Td (adoption ) Tj ET Q q 0 0 0 rg BT 135.34 324.00 Td (of ) Tj ET Q q 0 0 0 rg BT 143.58 324.00 Td (the ) Tj ET Q q 0 0 0 rg BT 154.94 324.00 Td (guidance, ) Tj ET Q q 0 0 0 rg BT 187.39 324.00 Td (the ) Tj ET Q q 0 0 0 rg BT 198.74 324.00 Td (disposal ) Tj ET Q q 0 0 0 rg BT 226.55 324.00 Td (of ) Tj ET Q q 0 0 0 rg BT 234.79 324.00 Td (a ) Tj ET Q q 0 0 0 rg BT 239.92 324.00 Td (component ) Tj ET Q q 0 0 0 rg BT 277.05 324.00 Td (of ) Tj ET Q q 0 0 0 rg BT 285.29 324.00 Td (an ) Tj ET Q q 0 0 0 rg BT 294.42 324.00 Td (entity ) Tj ET Q q 0 0 0 rg BT 314.22 324.00 Td (or ) Tj ET Q q 0 0 0 rg BT 322.47 324.00 Td (a ) Tj ET Q q 0 0 0 rg BT 327.60 324.00 Td (group ) Tj ET Q q 0 0 0 rg BT 347.84 324.00 Td (of ) Tj ET Q q 0 0 0 rg BT 356.09 324.00 Td (components ) Tj ET Q q 0 0 0 rg BT 396.33 324.00 Td (of ) Tj ET Q q 0 0 0 rg BT 404.57 324.00 Td (an ) Tj ET Q q 0 0 0 rg BT 413.70 324.00 Td (entity ) Tj ET Q q 0 0 0 rg BT 433.50 324.00 Td (is ) Tj ET Q q 0 0 0 rg BT 440.42 324.00 Td (required ) Tj ET Q q 0 0 0 rg BT 468.65 324.00 Td (to ) Tj ET Q q 0 0 0 rg BT 476.45 324.00 Td (be ) Tj ET Q q 0 0 0 rg BT 485.58 324.00 Td (reported ) Tj ET Q q 0 0 0 rg BT 513.81 324.00 Td (in ) Tj ET Q q 0 0 0 rg BT 521.62 324.00 Td (discontinued ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 314.40 Td (operations ) Tj ET Q q 0 0 0 rg BT 84.71 314.40 Td (only ) Tj ET Q q 0 0 0 rg BT 100.81 314.40 Td (if ) Tj ET Q q 0 0 0 rg BT 107.58 314.40 Td (the ) Tj ET Q q 0 0 0 rg BT 119.23 314.40 Td (disposal ) Tj ET Q q 0 0 0 rg BT 147.34 314.40 Td (represents ) Tj ET Q q 0 0 0 rg BT 181.65 314.40 Td (a ) Tj ET Q q 0 0 0 rg BT 187.08 314.40 Td (strategic ) Tj ET Q q 0 0 0 rg BT 216.06 314.40 Td (shift ) Tj ET Q q 0 0 0 rg BT 232.17 314.40 Td (that ) Tj ET Q q 0 0 0 rg BT 246.04 314.40 Td (will ) Tj ET Q q 0 0 0 rg BT 260.37 314.40 Td (have ) Tj ET Q q 0 0 0 rg BT 277.36 314.40 Td (a ) Tj ET Q q 0 0 0 rg BT 282.79 314.40 Td (major ) Tj ET Q q 0 0 0 rg BT 303.33 314.40 Td (ef) Tj ET Q q 0 0 0 rg BT 309.40 314.40 Td (fect ) Tj ET Q q 0 0 0 rg BT 323.27 314.40 Td (on ) Tj ET Q q 0 0 0 rg BT 333.15 314.40 Td (an ) Tj ET Q q 0 0 0 rg BT 342.58 314.40 Td (entity) Tj ET Q q 0 0 0 rg BT 363.03 314.40 Td (s ) Tj ET Q q 0 0 0 rg BT 368.02 314.40 Td (operations ) Tj ET Q q 0 0 0 rg BT 403.23 314.40 Td (and ) Tj ET Q q 0 0 0 rg BT 416.66 314.40 Td (financial ) Tj ET Q q 0 0 0 rg BT 446.53 314.40 Td (results. ) Tj ET Q q 0 0 0 rg BT 471.16 314.40 Td (The ) Tj ET Q q 0 0 0 rg BT 485.48 314.40 Td (guidance ) Tj ET Q q 0 0 0 rg BT 516.23 314.40 Td (is ) Tj ET Q q 0 0 0 rg BT 523.45 314.40 Td (ef) Tj ET Q q 0 0 0 rg BT 529.52 314.40 Td (fective ) Tj ET Q q 0 0 0 rg BT 553.17 314.40 Td (for ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 304.80 Td (all ) Tj ET Q q 0 0 0 rg BT 59.90 304.80 Td (disposals ) Tj ET Q q 0 0 0 rg BT 91.64 304.80 Td (that ) Tj ET Q q 0 0 0 rg BT 106.04 304.80 Td (occur ) Tj ET Q q 0 0 0 rg BT 126.21 304.80 Td (subsequent ) Tj ET Q q 0 0 0 rg BT 164.17 304.80 Td (to ) Tj ET Q q 0 0 0 rg BT 172.80 304.80 Td (January ) Tj ET Q q 0 0 0 rg BT 200.08 304.80 Td (1, ) Tj ET Q q 0 0 0 rg BT 208.49 304.80 Td (2015. ) Tj ET Q q 0 0 0 rg BT 228.72 304.80 Td (The ) Tj ET Q q 0 0 0 rg BT 243.56 304.80 Td (adoption ) Tj ET Q q 0 0 0 rg BT 273.96 304.80 Td (of ) Tj ET Q q 0 0 0 rg BT 283.03 304.80 Td (this ) Tj ET Q q 0 0 0 rg BT 297.00 304.80 Td (guidance ) Tj ET Q q 0 0 0 rg BT 328.28 304.80 Td (may ) Tj ET Q q 0 0 0 rg BT 344.46 304.80 Td (impact ) Tj ET Q q 0 0 0 rg BT 368.63 304.80 Td (how ) Tj ET Q q 0 0 0 rg BT 384.81 304.80 Td (we ) Tj ET Q q 0 0 0 rg BT 396.55 304.80 Td (present ) Tj ET Q q 0 0 0 rg BT 422.05 304.80 Td (and ) Tj ET Q q 0 0 0 rg BT 436.01 304.80 Td (disclose ) Tj ET Q q 0 0 0 rg BT 464.19 304.80 Td (discontinued ) Tj ET Q q 0 0 0 rg BT 507.48 304.80 Td (operations ) Tj ET Q q 0 0 0 rg BT 543.21 304.80 Td (in ) Tj ET Q q 0 0 0 rg BT 551.83 304.80 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 295.20 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 91.93 295.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 121.92 295.20 Td (statements.) 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8.00 Tf ET q 0 0 0 rg BT 447.15 536.75 Td (1,742) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.50 536.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.15 536.75 Td (2,674) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 521.75 Td (Accounts receivable, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.15 521.75 Td (3,232) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.15 521.75 Td (15,523) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 506.75 Td (Inventory) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.15 506.75 Td (777) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.15 506.75 Td (6,335) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 491.75 Td (Program rights) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.15 491.75 Td (10,347) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.15 491.75 Td (29,843) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 476.75 Td (Property, plant and equipment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.15 476.75 Td (6,999) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.15 476.75 Td (55,688) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 461.75 Td (Other assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.15 461.75 Td (6,769) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.15 461.75 Td (6,939) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 446.73 Td (Total assets held for sale) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.50 446.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 443.15 446.73 Td (29,866) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.50 446.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.15 446.73 Td (117,002) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 416.73 Td (Liabilities held for sale) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 401.75 Td (Accounts payable and accrued liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.50 401.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.15 401.75 Td (6,893) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.50 401.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.15 401.75 Td (18,726) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 386.75 Td (Other liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.15 386.75 Td (3,739) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.15 386.75 Td (10,803) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 371.73 Td (Total liabilities held for sale) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.50 371.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 443.15 371.73 Td (10,632) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.50 371.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.15 371.73 Td (29,529) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 352.40 Td (Loss ) Tj ET Q q 0 0 0 rg BT 66.61 352.40 Td (from ) Tj ET Q q 0 0 0 rg BT 84.16 352.40 Td (discontinued ) Tj ET Q q 0 0 0 rg BT 127.05 352.40 Td (operations, ) Tj ET Q q 0 0 0 rg BT 164.37 352.40 Td (net ) Tj ET Q q 0 0 0 rg BT 176.14 352.40 Td (of ) Tj ET Q q 0 0 0 rg BT 184.81 352.40 Td (taxes, ) Tj ET Q q 0 0 0 rg BT 205.25 352.40 Td (comprised ) Tj ET Q q 0 0 0 rg BT 240.57 352.40 Td (the ) Tj ET Q q 0 0 0 rg BT 252.34 352.40 Td (following ) Tj ET Q q 0 0 0 rg BT 285.45 352.40 Td (for ) Tj ET Q q 0 0 0 rg BT 296.78 352.40 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 308.55 352.40 Td (year) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.32 352.40 Td ( ) Tj ET Q q 0 0 0 rg BT 324.32 352.40 Td (ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 345.42 352.40 Td (December31, ) Tj ET Q q 0 0 0 rg BT 392.29 352.40 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.29 352.40 Td ( ) Tj ET Q q 0 0 0 rg BT 410.29 352.40 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.84 352.40 Td (December31, ) Tj ET Q q 0 0 0 rg BT 470.71 352.40 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.71 352.40 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 313.90 304.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.00 313.90 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 313.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 313.90 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 313.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 313.90 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 292.90 304.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.00 292.90 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 292.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 292.90 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 292.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 292.90 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 262.90 304.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.00 262.90 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 262.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 262.90 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 262.90 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j 3 M 496 216.89999999999998 m 563 216.89999999999998 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 397.75 333.13 Td (For The Year Ending December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.50 318.13 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.50 318.13 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 543.50 318.13 Td (2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 303.13 Td (Net revenues) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 356.50 303.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 395.80 303.13 Td (50,191) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 427.50 303.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.80 303.13 Td (57,900) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 498.50 303.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 537.80 303.13 Td (66,086) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 282.15 Td (Loss from discontinued operations before income taxes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 393.10 282.15 Td (\(17,893) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.80 282.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.10 282.15 Td (\(4,131) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.80 282.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 535.10 282.15 Td (\(10,073) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.80 282.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 267.15 Td (Credit / \(provision\) for income taxes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.80 267.15 Td (1,987) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.10 267.15 Td (\(968) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.80 267.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.10 267.15 Td (\(612) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.80 267.15 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 252.13 Td (Loss from discontinued operations, net of taxes, before loss on sale) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 393.10 252.13 Td (\(15,906) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 417.80 252.13 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.10 252.13 Td (\(5,099) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 488.80 252.13 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 535.10 252.13 Td (\(10,685) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 559.80 252.13 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 237.15 Td (Loss on sale of divested businesses, net of taxes ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 208.03 240.78 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 393.10 237.15 Td (\(64,525) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.80 237.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.80 237.15 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.80 237.15 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 222.13 Td (Loss from discontinued operations, net of taxes) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 356.50 222.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 393.10 222.13 Td (\(80,431) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 417.80 222.13 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 427.50 222.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.10 222.13 Td (\(5,099) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 488.80 222.13 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 498.50 222.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 535.10 222.13 Td (\(10,685) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 559.80 222.13 Td (\)) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 205.80 Td (\(1\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 205.80 Td (Amount ) Tj ET Q q 0 0 0 rg BT 95.64 205.80 Td (includes ) Tj ET Q q 0 0 0 rg BT 124.21 205.80 Td (realized ) Tj ET Q q 0 0 0 rg BT 151.44 205.80 Td (losses ) Tj ET Q q 0 0 0 rg BT 172.47 205.80 Td (on ) Tj ET Q q 0 0 0 rg BT 182.38 205.80 Td (completed ) Tj ET Q q 0 0 0 rg BT 217.62 205.80 Td (disposal ) Tj ET Q q 0 0 0 rg BT 245.76 205.80 Td (transactions ) Tj ET Q q 0 0 0 rg BT 285.88 205.80 Td (and ) Tj ET Q q 0 0 0 rg BT 299.35 205.80 Td (the ) Tj ET Q q 0 0 0 rg BT 311.04 205.80 Td (fair ) Tj ET Q q 0 0 0 rg BT 324.05 205.80 Td (value ) Tj ET Q q 0 0 0 rg BT 343.29 205.80 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 383.43 205.80 Td (required ) Tj ET Q q 0 0 0 rg BT 411.99 205.80 Td (to ) Tj ET Q q 0 0 0 rg BT 420.13 205.80 Td (measure ) Tj ET Q q 0 0 0 rg BT 448.70 205.80 Td (assets ) Tj ET Q q 0 0 0 rg BT 469.28 205.80 Td (held ) Tj ET Q q 0 0 0 rg BT 484.97 205.80 Td (for ) Tj ET Q q 0 0 0 rg BT 496.21 205.80 Td (sale ) Tj ET Q q 0 0 0 rg BT 510.56 205.80 Td (at ) Tj ET Q q 0 0 0 rg BT 518.25 205.80 Td (fair ) Tj ET Q q 0 0 0 rg BT 531.27 205.80 Td (value ) Tj ET Q q 0 0 0 rg BT 550.51 205.80 Td (less ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 196.20 Td (costs ) Tj ET Q q 0 0 0 rg BT 85.61 196.20 Td (to ) Tj ET Q q 0 0 0 rg BT 93.94 196.20 Td (sell ) Tj ET Q q 0 0 0 rg BT 107.16 196.20 Td (for ) Tj ET Q q 0 0 0 rg BT 118.60 196.20 Td (business ) Tj ET Q q 0 0 0 rg BT 147.82 196.20 Td (classified ) Tj ET Q q 0 0 0 rg BT 180.14 196.20 Td (as ) Tj ET Q q 0 0 0 rg BT 188.91 196.20 Td (discontinued ) Tj ET Q q 0 0 0 rg BT 231.91 196.20 Td (operations ) Tj ET Q q 0 0 0 rg BT 267.34 196.20 Td (which ) Tj ET Q q 0 0 0 rg BT 289.00 196.20 Td (are ) Tj ET Q q 0 0 0 rg BT 300.88 196.20 Td (expected ) Tj ET Q q 0 0 0 rg BT 331.41 196.20 Td (to ) Tj ET Q q 0 0 0 rg BT 339.74 196.20 Td (be ) Tj ET Q q 0 0 0 rg BT 349.40 196.20 Td (disposed ) Tj ET Q q 0 0 0 rg BT 379.51 196.20 Td (in ) Tj ET Q q 0 0 0 rg BT 387.84 196.20 Td (2015. ) Tj ET Q q 0 0 0 rg BT 407.80 196.20 Td (The ) Tj ET Q q 0 0 0 rg BT 422.35 196.20 Td (fair ) Tj ET Q q 0 0 0 rg BT 435.56 196.20 Td (value ) Tj ET Q q 0 0 0 rg BT 454.99 196.20 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 492.21 196.20 Td (is ) Tj ET Q q 0 0 0 rg BT 499.65 196.20 Td (a ) Tj ET Q q 0 0 0 rg BT 505.31 196.20 Td (non-recurring ) Tj ET Q q 0 0 0 rg BT 551.40 196.20 Td (fair ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 186.60 Td (value ) Tj ET Q q 0 0 0 rg BT 86.91 186.60 Td (measurement ) Tj ET Q q 0 0 0 rg BT 131.64 186.60 Td (based ) Tj ET Q q 0 0 0 rg BT 151.95 186.60 Td (on ) Tj ET Q q 0 0 0 rg BT 162.03 186.60 Td (active ) Tj ET Q q 0 0 0 rg BT 183.21 186.60 Td (bids ) Tj ET Q q 0 0 0 rg BT 198.64 186.60 Td (obtained ) Tj ET Q q 0 0 0 rg BT 228.27 186.60 Td (from ) Tj ET Q q 0 0 0 rg BT 245.91 186.60 Td (third-parties ) Tj ET Q q 0 0 0 rg BT 287.09 186.60 Td (as ) Tj ET Q q 0 0 0 rg BT 295.84 186.60 Td (part ) Tj ET Q q 0 0 0 rg BT 310.36 186.60 Td (of ) Tj ET Q q 0 0 0 rg BT 319.11 186.60 Td (the ) Tj ET Q q 0 0 0 rg BT 330.97 186.60 Td (disposal ) Tj ET Q q 0 0 0 rg BT 359.28 186.60 Td (process. ) Tj ET Q q 0 0 0 rg BT 387.21 186.60 Td (This ) Tj ET Q q 0 0 0 rg BT 403.52 186.60 Td (measurement ) Tj ET Q q 0 0 0 rg BT 448.25 186.60 Td (of ) Tj ET Q q 0 0 0 rg BT 457.00 186.60 Td (estimated ) Tj ET Q q 0 0 0 rg BT 489.74 186.60 Td (fair ) Tj ET Q q 0 0 0 rg BT 502.93 186.60 Td (value ) Tj ET Q q 0 0 0 rg BT 522.34 186.60 Td (uses ) Tj ET Q q 0 0 0 rg BT 538.20 186.60 Td (Level ) Tj ET Q q 0 0 0 rg BT 558.50 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Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 237.95 648.13 Td (Croatia) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 297.05 656.13 Td (Czech) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 292.15 648.13 Td (Republic) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.40 648.13 Td (Romania) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 409.40 656.13 Td (Slovak) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 405.65 648.13 Td (Republic) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.55 648.13 Td (Slovenia) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.25 648.13 Td (Total) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 635.13 Td (Gross Balance, December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 627.13 Td (2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 170.50 627.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 191.75 627.13 Td (177,473) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 227.50 627.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 252.75 627.13 Td (11,127) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 284.50 627.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 304.75 627.13 Td (902,388) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 340.50 627.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.75 627.13 Td (106,028) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 397.50 627.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 422.75 627.13 Td (57,693) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.50 627.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.75 627.13 Td (18,682) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 511.50 627.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.75 627.13 Td (1,273,391) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 614.15 Td (Accumulated impairment losses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 189.10 614.15 Td (\(127,826) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 217.80 614.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 250.10 614.15 Td (\(10,454) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.80 614.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.10 614.15 Td (\(287,545) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.80 614.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 363.10 614.15 Td (\(11,028) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 387.80 614.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.80 614.15 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 493.80 614.15 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.10 614.15 Td (\(436,853) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 614.15 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 601.13 Td (Balance, December 31, 2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.75 601.13 Td (49,647) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 262.80 601.13 Td (673) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 304.75 601.13 Td (614,843) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.75 601.13 Td (95,000) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 422.75 601.13 Td (57,693) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.75 601.13 Td (18,682) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 601.13 Td (836,538) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 588.15 Td (Impairment charge) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 193.10 588.15 Td (\(16,813) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 217.80 588.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.80 588.15 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.80 588.15 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.80 588.15 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.80 588.15 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.10 588.15 Td (\(19,400) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.80 588.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 588.15 Td (\(36,213) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 588.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 575.15 Td (Foreign currency) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 199.80 575.15 Td (2,136) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.80 575.15 Td (22) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.10 575.15 Td (\(25,941) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.80 575.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 369.80 575.15 Td (3,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.80 575.15 Td (2,610) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.80 575.15 Td (718) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 575.15 Td (\(17,455) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 575.15 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 562.13 Td (Balance, December 31, 2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.75 562.13 Td (34,970) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 262.80 562.13 Td (695) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 304.75 562.13 Td (588,902) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.75 562.13 Td (98,000) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 422.75 562.13 Td (60,303) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 493.80 562.13 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 562.13 Td (782,870) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 549.15 Td (Accumulated impairment losses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 189.10 549.15 Td (\(144,639) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 217.80 549.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 250.10 549.15 Td (\(10,454) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.80 549.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.10 549.15 Td (\(287,545) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.80 549.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 363.10 549.15 Td (\(11,028) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 387.80 549.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.80 549.15 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.10 549.15 Td (\(19,400) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.80 549.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.10 549.15 Td (\(473,066) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 549.15 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 536.13 Td (Gross Balance, December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 528.13 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 170.50 528.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 191.75 528.13 Td (179,609) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 227.50 528.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 252.75 528.13 Td (11,149) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 284.50 528.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 304.75 528.13 Td (876,447) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 340.50 528.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.75 528.13 Td (109,028) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 397.50 528.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 422.75 528.13 Td (60,303) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.50 528.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.75 528.13 Td (19,400) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 511.50 528.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.75 528.13 Td (1,255,936) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 489.90 119.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 169.00 489.90 53.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 489.90 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 226.00 489.90 53.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.00 489.90 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 489.90 52.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.00 489.90 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.00 489.90 53.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 489.90 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.00 489.90 53.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 489.90 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.00 489.90 53.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 489.90 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 489.90 53.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 455.90 119.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 169.00 455.90 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 455.90 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 226.00 455.90 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.00 455.90 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 455.90 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.00 455.90 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.00 455.90 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 455.90 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.00 455.90 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 455.90 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.00 455.90 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 455.90 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 455.90 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 429.90 119.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 169.00 429.90 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 429.90 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 226.00 429.90 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.00 429.90 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 429.90 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.00 429.90 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.00 429.90 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 429.90 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.00 429.90 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 429.90 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.00 429.90 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 429.90 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 429.90 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 403.90 119.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 169.00 403.90 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 403.90 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 226.00 403.90 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.00 403.90 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 403.90 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.00 403.90 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.00 403.90 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 403.90 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.00 403.90 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 403.90 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.00 403.90 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 403.90 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 403.90 53.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 169 489.9 m 222 489.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 226 489.9 m 279 489.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 283 489.9 m 335 489.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 339 489.9 m 392 489.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 396 489.9 m 449 489.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 453 489.9 m 506 489.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 510 489.9 m 563 489.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 169 489.9 m 222 489.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169 455.9 m 222 455.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 226 455.9 m 279 455.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283 455.9 m 335 455.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339 455.9 m 392 455.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 455.9 m 449 455.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453 455.9 m 506 455.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 455.9 m 563 455.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169 416.9 m 222 416.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 226 416.9 m 279 416.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283 416.9 m 335 416.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339 416.9 m 392 416.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 416.9 m 449 416.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453 416.9 m 506 416.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 416.9 m 563 416.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169 390.9 m 222 390.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169 370.9 m 222 370.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169 368.9 m 222 368.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 226 390.9 m 279 390.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 226 370.9 m 279 370.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 226 368.9 m 279 368.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283 390.9 m 335 390.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283 370.9 m 335 370.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283 368.9 m 335 368.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339 390.9 m 392 390.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339 370.9 m 392 370.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339 368.9 m 392 368.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 390.9 m 449 390.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 370.9 m 449 370.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 368.9 m 449 368.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453 390.9 m 506 390.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453 370.9 m 506 370.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453 368.9 m 506 368.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 390.9 m 563 390.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 370.9 m 563 370.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 368.9 m 563 368.9 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 180.10 494.13 Td (Bulgaria) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 238.95 494.13 Td (Croatia) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 298.05 502.13 Td (Czech) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 293.15 494.13 Td (Republic) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.40 494.13 Td (Romania) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 410.40 502.13 Td (Slovak) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 406.65 494.13 Td (Republic) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.55 494.13 Td (Slovenia) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.25 494.13 Td (Total) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 481.13 Td (Gross Balance, December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 473.13 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 171.50 473.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 192.75 473.13 Td (179,609) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 228.50 473.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 253.75 473.13 Td (11,149) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 285.50 473.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 305.75 473.13 Td (876,447) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 341.50 473.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.75 473.13 Td (109,028) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 398.50 473.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.75 473.13 Td (60,303) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 455.50 473.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 480.75 473.13 Td (19,400) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 512.50 473.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.75 473.13 Td (1,255,936) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 460.15 Td (Accumulated impairment losses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 190.10 460.15 Td (\(144,639) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 218.80 460.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 251.10 460.15 Td (\(10,454) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 275.80 460.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 303.10 460.15 Td (\(287,545) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.80 460.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 364.10 460.15 Td (\(11,028) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.80 460.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.80 460.15 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.10 460.15 Td (\(19,400) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.80 460.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.10 460.15 Td (\(473,066) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.80 460.15 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 447.13 Td (Balance, December 31, 2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 196.75 447.13 Td (34,970) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 263.80 447.13 Td (695) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 305.75 447.13 Td (588,902) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 366.75 447.13 Td (98,000) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.75 447.13 Td (60,303) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.80 447.13 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.75 447.13 Td (782,870) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 434.15 Td (Foreign currency) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 198.10 434.15 Td (\(4,115) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 218.80 434.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 265.10 434.15 Td (\(84) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 275.80 434.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.10 434.15 Td (\(75,807) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.80 434.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 364.10 434.15 Td (\(11,409) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.80 434.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.10 434.15 Td (\(7,215) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 445.80 434.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.80 434.15 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 535.10 434.15 Td (\(98,630) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.80 434.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 421.15 Td (Other ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 72.71 424.78 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 210.80 421.15 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.80 421.15 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.80 421.15 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.10 421.15 Td (\(2,842) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.80 421.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.80 421.15 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.80 421.15 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.10 421.15 Td (\(2,842) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.80 421.15 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 408.13 Td (Balance, December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 196.75 408.13 Td (30,855) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 263.80 408.13 Td (611) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 305.75 408.13 Td (513,095) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 366.75 408.13 Td (83,749) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.75 408.13 Td (53,088) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.80 408.13 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.75 408.13 Td (681,398) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 395.15 Td (Accumulated impairment losses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 190.10 395.15 Td (\(144,639) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 218.80 395.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 251.10 395.15 Td (\(10,454) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 275.80 395.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 303.10 395.15 Td (\(287,545) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.80 395.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 364.10 395.15 Td (\(11,028) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.80 395.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.80 395.15 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.10 395.15 Td (\(19,400) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.80 395.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.10 395.15 Td (\(473,066) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.80 395.15 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 382.13 Td (Gross Balance, December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 374.13 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 171.50 374.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 192.75 374.13 Td (175,494) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 228.50 374.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 253.75 374.13 Td (11,065) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 285.50 374.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 305.75 374.13 Td (800,640) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 341.50 374.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 366.75 374.13 Td (94,777) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 398.50 374.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.75 374.13 Td (53,088) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 455.50 374.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 480.75 374.13 Td (19,400) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 512.50 374.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.75 374.13 Td (1,154,464) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 357.80 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 63.00 357.80 Td (Amount represents the goodwill allocated to businesses held-for) Tj ET Q q 0 0 0 rg BT 268.35 357.80 Td (-sale based on their fair value relative to the fair value of the reporting unit's continuing ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.00 348.20 Td (operations.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 329.60 Td (Br) Tj ET Q q 0 0 0 rg BT 58.24 329.60 Td (oadcast ) Tj ET Q q 0 0 0 rg BT 86.02 329.60 Td (licenses ) Tj ET Q q 0 0 0 rg BT 113.79 329.60 Td (and ) Tj ET Q q 0 0 0 rg BT 128.69 329.60 Td (other) Tj ET Q q 0 0 0 rg BT 146.76 329.60 Td ( ) Tj ET Q q 0 0 0 rg BT 148.76 329.60 Td (intangible ) Tj ET Q q 0 0 0 rg BT 184.99 329.60 Td (assets:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 314.00 Td (Changes ) Tj ET Q q 0 0 0 rg BT 79.05 314.00 Td (in ) Tj ET Q q 0 0 0 rg BT 87.27 314.00 Td (the ) Tj ET Q q 0 0 0 rg BT 99.05 314.00 Td (net ) Tj ET Q q 0 0 0 rg BT 110.82 314.00 Td (book ) Tj ET Q q 0 0 0 rg BT 128.82 314.00 Td (value ) Tj ET Q q 0 0 0 rg BT 148.14 314.00 Td (of ) Tj ET Q q 0 0 0 rg BT 156.81 314.00 Td (our ) Tj ET Q q 0 0 0 rg BT 169.47 314.00 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 202.13 314.00 Td (licenses ) Tj ET Q q 0 0 0 rg BT 229.45 314.00 Td (and ) Tj ET Q q 0 0 0 rg BT 243.00 314.00 Td (other ) Tj ET Q q 0 0 0 rg BT 261.44 314.00 Td (intangible ) Tj ET Q q 0 0 0 rg BT 295.43 314.00 Td (assets ) Tj ET Q q 0 0 0 rg BT 316.09 314.00 Td (as ) Tj ET Q q 0 0 0 rg BT 324.76 314.00 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.53 314.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 379.40 314.00 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 395.40 314.00 Td ( ) Tj ET Q q 0 0 0 rg BT 397.40 314.00 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.95 314.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 457.82 314.00 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.82 314.00 Td ( ) Tj ET Q q 0 0 0 rg BT 475.82 314.00 Td (is ) Tj ET Q q 0 0 0 rg BT 483.15 314.00 Td (summarized ) Tj ET Q q 0 0 0 rg BT 524.25 314.00 Td (as ) Tj ET Q q 0 0 0 rg BT 532.91 314.00 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 282.50 192.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.00 282.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.00 282.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 282.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 282.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 282.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 282.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 282.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 282.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 282.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 252.50 192.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.00 252.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.00 252.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 252.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 252.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 252.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 252.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 252.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 252.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 252.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 222.50 192.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.00 222.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.00 222.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 222.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 222.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 222.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 222.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 222.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 222.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 222.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 192.50 192.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.00 192.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.00 192.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 192.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 192.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 192.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 192.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 192.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 192.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 192.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 162.50 192.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.00 162.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.00 162.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 162.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 162.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 162.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 162.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 162.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 162.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 162.50 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 242 282.5 m 302 282.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 306 282.5 m 366 282.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 370 282.5 m 435 282.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 439 282.5 m 499 282.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 503 282.5 m 563 282.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 242 282.5 m 302 282.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 306 282.5 m 366 282.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 370 282.5 m 435 282.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 439 282.5 m 499 282.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 503 282.5 m 563 282.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242 207.5 m 302 207.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 207.5 m 366 207.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 207.5 m 435 207.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 207.5 m 499 207.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 207.5 m 563 207.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242 162.5 m 302 162.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242 148.5 m 302 148.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242 146.5 m 302 146.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 162.5 m 366 162.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 148.5 m 366 148.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 146.5 m 366 146.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 162.5 m 435 162.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 148.5 m 435 148.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 146.5 m 435 146.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 162.5 m 499 162.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 148.5 m 499 148.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 146.5 m 499 146.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 162.5 m 563 162.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 148.5 m 563 148.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 146.5 m 563 146.5 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 286.75 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 263.95 294.73 Td (Broadcast) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 269.60 286.73 Td (Licenses) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 320.40 286.73 Td (Trademarks) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 397.85 294.73 Td (Customer) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.25 286.73 Td (Relationships) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.20 286.73 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 542.00 286.73 Td (Total) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 271.73 Td (Balance, December 31, 2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 244.50 271.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 272.80 271.73 Td (119,570) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 308.50 271.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.80 271.73 Td (120,976) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 372.50 271.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 409.80 271.73 Td (39,094) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 441.50 271.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 483.80 271.73 Td (305) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 505.50 271.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 271.73 Td (279,945) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 256.75 Td (Additions) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 290.80 256.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.80 256.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.80 256.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 483.80 256.75 Td (772) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.80 256.75 Td (772) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 241.75 Td (Impairment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.10 241.75 Td (\(7,596) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.80 241.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.10 241.75 Td (\(12,259) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.80 241.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.10 241.75 Td (\(23,608) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.80 241.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.80 241.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 535.10 241.75 Td (\(43,463) Tj ET Q BT /F1 8.00 Tf ET q 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419.80 211.75 Td (979) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.10 211.75 Td (\(106) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.80 211.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.10 211.75 Td (\(374) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.80 211.75 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 196.73 Td (Balance, December 31, 2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 244.50 196.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 276.80 196.73 Td (97,807) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 308.50 196.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.80 196.73 Td (111,667) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 372.50 196.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 409.80 196.73 Td (12,042) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 441.50 196.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 483.80 196.73 Td (603) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 505.50 196.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 196.73 Td (222,119) Tj 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0 0 0 rg BT 379.85 607.90 Td (is ) Tj ET Q q 0 0 0 rg BT 387.18 607.90 Td (as ) Tj ET Q q 0 0 0 rg BT 395.85 607.90 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 597.40 455.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 597.40 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 567.40 455.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 567.40 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 537.40 455.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 537.40 57.00 -15.00 re f /GS0 gs BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 586.65 Td (2015) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 507.00 586.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 586.65 Td (11,160) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 571.65 Td (2016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 571.65 Td (8,826) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 556.65 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 556.65 Td (8,608) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 541.65 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 541.65 Td (8,504) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 526.65 Td (2019) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 526.65 Td (8,015) Tj ET Q BT /F1 8.00 Tf ET BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 504.30 Td (Impairment ) Tj ET Q q 0 0 0 rg BT 92.83 504.30 Td (of ) Tj ET Q q 0 0 0 rg BT 101.49 504.30 Td (goodwill, ) Tj ET Q q 0 0 0 rg BT 134.39 504.30 Td (indefinite-lived ) Tj ET Q q 0 0 0 rg BT 187.94 504.30 Td (intangible ) Tj ET Q q 0 0 0 rg BT 224.17 504.30 Td (assets ) Tj ET Q q 0 0 0 rg BT 245.73 504.30 Td (and ) Tj ET Q q 0 0 0 rg BT 260.63 504.30 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 296.41 504.30 Td (assets:) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 485.70 Td (Pr) Tj ET Q q 0 0 0 rg BT 57.20 485.70 Td (ocess ) Tj ET Q q 0 0 0 rg BT 76.53 485.70 Td (of ) Tj ET Q q 0 0 0 rg BT 84.75 485.70 Td (r) Tj ET Q q 0 0 0 rg BT 87.57 485.70 Td (eviewing ) Tj ET Q q 0 0 0 rg BT 118.00 485.70 Td (goodwill, ) Tj ET Q q 0 0 0 rg BT 150.01 485.70 Td (indefinite-lived ) Tj ET Q q 0 0 0 rg BT 200.43 485.70 Td (intangible ) Tj ET Q q 0 0 0 rg BT 234.88 485.70 Td (assets ) Tj ET Q q 0 0 0 rg BT 255.99 485.70 Td (and ) Tj ET Q q 0 0 0 rg BT 269.99 485.70 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 304.42 485.70 Td (assets ) Tj ET Q q 0 0 0 rg BT 325.54 485.70 Td (for ) Tj ET Q q 0 0 0 rg BT 336.87 485.70 Td (impairment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 470.10 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 470.10 Td (e ) Tj ET Q q 0 0 0 rg BT 61.90 470.10 Td (review ) Tj ET Q q 0 0 0 rg BT 85.60 470.10 Td (both ) Tj ET Q q 0 0 0 rg BT 101.76 470.10 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 132.14 470.10 Td (and ) Tj ET Q q 0 0 0 rg BT 145.63 470.10 Td (indefinite-lived ) Tj ET Q q 0 0 0 rg BT 196.88 470.10 Td (intangible ) Tj ET Q q 0 0 0 rg BT 230.81 470.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 251.41 470.10 Td (for ) Tj ET Q q 0 0 0 rg BT 262.67 470.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 301.49 470.10 Td (in ) Tj ET Q q 0 0 0 rg BT 309.65 470.10 Td (the ) Tj ET Q q 0 0 0 rg BT 321.36 470.10 Td (fourth ) Tj ET Q q 0 0 0 rg BT 342.85 470.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 367.44 470.10 Td (of ) Tj ET Q q 0 0 0 rg BT 376.04 470.10 Td (each ) Tj ET Q q 0 0 0 rg BT 392.63 470.10 Td (year) Tj ET Q q 0 0 0 rg BT 405.95 470.10 Td (. ) Tj ET Q q 0 0 0 rg BT 409.89 470.10 Td (Goodwill ) Tj ET Q q 0 0 0 rg BT 442.04 470.10 Td (is ) Tj ET Q q 0 0 0 rg BT 449.32 470.10 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 481.90 470.10 Td (at ) Tj ET Q q 0 0 0 rg BT 489.61 470.10 Td (the ) Tj ET Q q 0 0 0 rg BT 501.32 470.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 532.58 470.10 Td (unit ) Tj ET Q q 0 0 0 rg BT 546.96 470.10 Td (level ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 460.50 Td (and ) Tj ET Q q 0 0 0 rg BT 63.22 460.50 Td (each ) Tj ET Q q 0 0 0 rg BT 80.04 460.50 Td (indefinite-lived ) Tj ET Q q 0 0 0 rg BT 131.53 460.50 Td (intangible ) Tj ET Q q 0 0 0 rg BT 165.69 460.50 Td (asset ) Tj ET Q q 0 0 0 rg BT 183.41 460.50 Td (is ) Tj ET Q q 0 0 0 rg BT 190.92 460.50 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 223.74 460.50 Td (individually) Tj ET Q q 0 0 0 rg BT 261.88 460.50 Td (. ) Tj ET Q q 0 0 0 rg BT 266.05 460.50 Td (Long-lived ) Tj ET Q q 0 0 0 rg BT 303.77 460.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 324.60 460.50 Td (are ) Tj ET Q q 0 0 0 rg BT 336.54 460.50 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 369.36 460.50 Td (at ) Tj ET Q q 0 0 0 rg BT 377.30 460.50 Td (the ) Tj ET Q q 0 0 0 rg BT 389.24 460.50 Td (asset ) Tj ET Q q 0 0 0 rg BT 406.96 460.50 Td (group ) Tj ET Q q 0 0 0 rg BT 427.80 460.50 Td (level ) Tj ET Q q 0 0 0 rg BT 445.51 460.50 Td (when ) Tj ET Q q 0 0 0 rg BT 465.01 460.50 Td (there ) Tj ET Q q 0 0 0 rg BT 483.17 460.50 Td (is ) Tj ET Q q 0 0 0 rg BT 490.68 460.50 Td (an ) Tj ET Q q 0 0 0 rg BT 500.40 460.50 Td (indication ) Tj ET Q q 0 0 0 rg BT 534.56 460.50 Td (that ) Tj ET Q q 0 0 0 rg BT 548.72 460.50 Td (they ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 450.90 Td (may ) Tj ET Q q 0 0 0 rg BT 65.27 450.90 Td (be ) Tj ET Q q 0 0 0 rg BT 74.82 450.90 Td (impaired.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 435.30 Td (In ) Tj ET Q q 0 0 0 rg BT 58.61 435.30 Td (addition, ) Tj ET Q q 0 0 0 rg BT 89.28 435.30 Td (whenever ) Tj ET Q q 0 0 0 rg BT 122.82 435.30 Td (events ) Tj ET Q q 0 0 0 rg BT 145.70 435.30 Td (occur ) Tj ET Q q 0 0 0 rg BT 165.91 435.30 Td (which ) Tj ET Q q 0 0 0 rg BT 187.91 435.30 Td (suggest ) Tj ET Q q 0 0 0 rg BT 214.35 435.30 Td (any ) Tj ET Q q 0 0 0 rg BT 228.35 435.30 Td (asset ) Tj ET Q q 0 0 0 rg BT 246.35 435.30 Td (in ) Tj ET Q q 0 0 0 rg BT 255.02 435.30 Td (a ) Tj ET Q q 0 0 0 rg BT 261.01 435.30 Td (reporting ) Tj ET Q q 0 0 0 rg BT 292.79 435.30 Td (unit ) Tj ET Q q 0 0 0 rg BT 307.68 435.30 Td (may ) Tj ET Q q 0 0 0 rg BT 323.90 435.30 Td (be ) Tj ET Q q 0 0 0 rg BT 333.89 435.30 Td (impaired, ) Tj ET Q q 0 0 0 rg BT 366.77 435.30 Td (an ) Tj ET Q q 0 0 0 rg BT 376.77 435.30 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 412.54 435.30 Td (of ) Tj ET Q q 0 0 0 rg BT 421.65 435.30 Td (the ) Tj ET Q q 0 0 0 rg BT 433.87 435.30 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 464.76 435.30 Td (and ) Tj ET Q q 0 0 0 rg BT 478.76 435.30 Td (indefinite-lived ) Tj ET Q q 0 0 0 rg BT 530.52 435.30 Td (intangible ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 425.70 Td (assets, ) Tj ET Q q 0 0 0 rg BT 71.71 425.70 Td (together ) Tj ET Q q 0 0 0 rg BT 99.46 425.70 Td (with ) Tj ET Q q 0 0 0 rg BT 115.23 425.70 Td (the ) Tj ET Q q 0 0 0 rg BT 126.55 425.70 Td (associated ) Tj ET Q q 0 0 0 rg BT 160.97 425.70 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 195.39 425.70 Td (assets ) Tj ET Q q 0 0 0 rg BT 215.60 425.70 Td (of ) Tj ET Q q 0 0 0 rg BT 223.81 425.70 Td (each ) Tj ET Q q 0 0 0 rg BT 240.00 425.70 Td (asset ) Tj ET Q q 0 0 0 rg BT 257.10 425.70 Td (group, ) Tj ET Q q 0 0 0 rg BT 279.31 425.70 Td (is ) Tj ET Q q 0 0 0 rg BT 286.19 425.70 Td (performed. ) Tj ET Q q 0 0 0 rg BT 323.05 425.70 Td (Outside ) Tj ET Q q 0 0 0 rg BT 349.48 425.70 Td (our ) Tj ET Q q 0 0 0 rg BT 361.69 425.70 Td (annual ) Tj ET Q q 0 0 0 rg BT 384.55 425.70 Td (review) Tj ET Q q 0 0 0 rg BT 405.80 425.70 Td (, ) Tj ET Q q 0 0 0 rg BT 409.34 425.70 Td (there ) Tj ET Q q 0 0 0 rg BT 426.88 425.70 Td (are ) Tj ET Q q 0 0 0 rg BT 438.19 425.70 Td (a ) Tj ET Q q 0 0 0 rg BT 443.28 425.70 Td (number ) Tj ET Q q 0 0 0 rg BT 469.26 425.70 Td (of ) Tj ET Q q 0 0 0 rg BT 477.47 425.70 Td (factors ) Tj ET Q q 0 0 0 rg BT 500.78 425.70 Td (which ) Tj ET Q q 0 0 0 rg BT 521.88 425.70 Td (could ) Tj ET Q q 0 0 0 rg BT 541.19 425.70 Td (trigger ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 416.10 Td (an ) Tj ET Q q 0 0 0 rg BT 59.05 416.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 97.93 416.10 Td (review) Tj ET Q q 0 0 0 rg BT 119.18 416.10 Td (, ) Tj ET Q q 0 0 0 rg BT 123.18 416.10 Td (including:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 403.50 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 403.50 Td (under) Tj ET Q q 0 0 0 rg BT 103.55 403.50 Td (-performance ) Tj ET Q q 0 0 0 rg BT 148.64 403.50 Td (of ) Tj ET Q q 0 0 0 rg BT 157.30 403.50 Td (operating ) Tj ET Q q 0 0 0 rg BT 189.51 403.50 Td (segments ) Tj ET Q q 0 0 0 rg BT 221.29 403.50 Td (or ) Tj ET Q q 0 0 0 rg BT 229.95 403.50 Td (changes ) Tj ET Q q 0 0 0 rg BT 257.71 403.50 Td (in ) Tj ET Q q 0 0 0 rg BT 265.94 403.50 Td (projected ) Tj ET Q q 0 0 0 rg BT 297.70 403.50 Td (results;) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 390.90 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 390.90 Td (changes ) Tj ET Q q 0 0 0 rg BT 113.27 390.90 Td (in ) Tj ET Q q 0 0 0 rg BT 121.49 390.90 Td (the ) Tj ET Q q 0 0 0 rg BT 133.26 390.90 Td (manner ) Tj ET Q q 0 0 0 rg BT 159.25 390.90 Td (of ) Tj ET Q q 0 0 0 rg BT 167.91 390.90 Td (utilization ) Tj ET Q q 0 0 0 rg BT 202.35 390.90 Td (of ) Tj ET Q q 0 0 0 rg BT 211.02 390.90 Td (an ) Tj ET Q q 0 0 0 rg BT 220.57 390.90 Td (asset;) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 378.30 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 378.30 Td (severe ) Tj ET Q q 0 0 0 rg BT 108.02 378.30 Td (and ) Tj ET Q q 0 0 0 rg BT 121.66 378.30 Td (sustained ) Tj ET Q q 0 0 0 rg BT 153.53 378.30 Td (declines ) Tj ET Q q 0 0 0 rg BT 181.83 378.30 Td (in ) Tj ET Q q 0 0 0 rg BT 190.14 378.30 Td (the ) Tj ET Q q 0 0 0 rg BT 202.01 378.30 Td (trading ) Tj ET Q q 0 0 0 rg BT 226.76 378.30 Td (price ) Tj ET Q q 0 0 0 rg BT 244.84 378.30 Td (of ) Tj ET Q q 0 0 0 rg BT 253.59 378.30 Td (shares ) Tj ET Q q 0 0 0 rg BT 275.67 378.30 Td (of ) Tj ET Q q 0 0 0 rg BT 284.43 378.30 Td (our ) Tj ET Q q 0 0 0 rg BT 297.18 378.30 Td (Class ) Tj ET Q q 0 0 0 rg BT 316.15 378.30 Td (A) Tj ET Q q 0 0 0 rg BT 321.48 378.30 Td ( ) Tj ET Q q 0 0 0 rg BT 323.58 378.30 Td (common ) Tj ET Q q 0 0 0 rg BT 353.66 378.30 Td (stock ) Tj ET Q q 0 0 0 rg BT 372.64 378.30 Td (that ) Tj ET Q q 0 0 0 rg BT 386.73 378.30 Td (are ) Tj ET Q q 0 0 0 rg BT 398.58 378.30 Td (not ) Tj ET Q q 0 0 0 rg BT 410.90 378.30 Td (attributable ) Tj ET Q q 0 0 0 rg BT 449.42 378.30 Td (to ) Tj ET Q q 0 0 0 rg BT 457.73 378.30 Td (factors ) Tj ET Q q 0 0 0 rg BT 481.59 378.30 Td (other ) Tj ET Q q 0 0 0 rg BT 500.12 378.30 Td (than ) Tj ET Q q 0 0 0 rg BT 515.98 378.30 Td (the ) Tj ET Q q 0 0 0 rg BT 527.84 378.30 Td (underlying ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 368.70 Td (value ) Tj ET Q q 0 0 0 rg BT 104.82 368.70 Td (of ) Tj ET Q q 0 0 0 rg BT 113.49 368.70 Td (our ) Tj ET Q q 0 0 0 rg BT 126.15 368.70 Td (assets;) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 356.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 356.10 Td (negative ) Tj ET Q q 0 0 0 rg BT 114.60 356.10 Td (market ) Tj ET Q q 0 0 0 rg BT 138.81 356.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 174.14 356.10 Td (or ) Tj ET Q q 0 0 0 rg BT 182.80 356.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 215.90 356.10 Td (trends; ) Tj ET Q q 0 0 0 rg BT 239.68 356.10 Td (and) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 343.50 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 343.50 Td (specific ) Tj ET Q q 0 0 0 rg BT 112.26 343.50 Td (events, ) Tj ET Q q 0 0 0 rg BT 136.58 343.50 Td (such ) Tj ET Q q 0 0 0 rg BT 153.12 343.50 Td (as ) Tj ET Q q 0 0 0 rg BT 161.67 343.50 Td (new ) Tj ET Q q 0 0 0 rg BT 176.88 343.50 Td (legislation, ) Tj ET Q q 0 0 0 rg BT 214.09 343.50 Td (new ) Tj ET Q q 0 0 0 rg BT 229.30 343.50 Td (market ) Tj ET Q q 0 0 0 rg BT 253.39 343.50 Td (entrants, ) Tj ET Q q 0 0 0 rg BT 282.60 343.50 Td (changes ) Tj ET Q q 0 0 0 rg BT 310.24 343.50 Td (in ) Tj ET Q q 0 0 0 rg BT 318.35 343.50 Td (technology ) Tj ET Q q 0 0 0 rg BT 355.78 343.50 Td (or ) Tj ET Q q 0 0 0 rg BT 364.32 343.50 Td (adverse ) Tj ET Q q 0 0 0 rg BT 390.63 343.50 Td (legal ) Tj ET Q q 0 0 0 rg BT 408.06 343.50 Td (judgments ) Tj ET Q q 0 0 0 rg BT 443.28 343.50 Td (that ) Tj ET Q q 0 0 0 rg BT 457.16 343.50 Td (we ) Tj ET Q q 0 0 0 rg BT 468.37 343.50 Td (believe ) Tj ET Q q 0 0 0 rg BT 493.34 343.50 Td (could ) Tj ET Q q 0 0 0 rg BT 513.00 343.50 Td (have ) Tj ET Q q 0 0 0 rg BT 529.98 343.50 Td (a ) Tj ET Q q 0 0 0 rg BT 535.42 343.50 Td (negative ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 333.90 Td (impact ) Tj ET Q q 0 0 0 rg BT 109.27 333.90 Td (on ) Tj ET Q q 0 0 0 rg BT 119.27 333.90 Td (our ) Tj ET Q q 0 0 0 rg BT 131.93 333.90 Td (business.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 318.30 Td (In ) Tj ET Q q 0 0 0 rg BT 58.36 318.30 Td (testing ) Tj ET Q q 0 0 0 rg BT 81.88 318.30 Td (the ) Tj ET Q q 0 0 0 rg BT 93.84 318.30 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 124.48 318.30 Td (of ) Tj ET Q q 0 0 0 rg BT 133.34 318.30 Td (each ) Tj ET Q q 0 0 0 rg BT 150.18 318.30 Td (reporting ) Tj ET Q q 0 0 0 rg BT 181.70 318.30 Td (unit, ) Tj ET Q q 0 0 0 rg BT 198.33 318.30 Td (the ) Tj ET Q q 0 0 0 rg BT 210.30 318.30 Td (fair ) Tj ET Q q 0 0 0 rg BT 223.59 318.30 Td (value ) Tj ET Q q 0 0 0 rg BT 243.11 318.30 Td (of ) Tj ET Q q 0 0 0 rg BT 251.96 318.30 Td (the ) Tj ET Q q 0 0 0 rg BT 263.93 318.30 Td (reporting ) Tj ET Q q 0 0 0 rg BT 295.44 318.30 Td (unit ) Tj ET Q q 0 0 0 rg BT 310.08 318.30 Td (is ) Tj ET Q q 0 0 0 rg BT 317.61 318.30 Td (compared ) Tj ET Q q 0 0 0 rg BT 351.34 318.30 Td (to ) Tj ET Q q 0 0 0 rg BT 359.75 318.30 Td (the ) Tj ET Q q 0 0 0 rg BT 371.71 318.30 Td (carrying ) Tj ET Q q 0 0 0 rg BT 400.56 318.30 Td (amount ) Tj ET Q q 0 0 0 rg BT 426.75 318.30 Td (of ) Tj ET Q q 0 0 0 rg BT 435.60 318.30 Td (its ) Tj ET Q q 0 0 0 rg BT 445.35 318.30 Td (net ) Tj ET Q q 0 0 0 rg BT 457.32 318.30 Td (assets, ) Tj ET Q q 0 0 0 rg BT 480.17 318.30 Td (including ) Tj ET Q q 0 0 0 rg BT 512.58 318.30 Td (goodwill. ) Tj ET Q q 0 0 0 rg BT 545.22 318.30 Td (If ) Tj ET Q q 0 0 0 rg BT 552.74 318.30 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 308.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 62.69 308.70 Td (value ) Tj ET Q q 0 0 0 rg BT 82.10 308.70 Td (of ) Tj ET Q q 0 0 0 rg BT 90.85 308.70 Td (the ) Tj ET Q q 0 0 0 rg BT 102.71 308.70 Td (reporting ) Tj ET Q q 0 0 0 rg BT 134.12 308.70 Td (unit ) Tj ET Q q 0 0 0 rg BT 148.65 308.70 Td (is ) Tj ET Q q 0 0 0 rg BT 156.07 308.70 Td (less ) Tj ET Q q 0 0 0 rg BT 170.16 308.70 Td (than ) Tj ET Q q 0 0 0 rg BT 186.02 308.70 Td (its ) Tj ET Q q 0 0 0 rg BT 195.66 308.70 Td (carrying ) Tj ET Q q 0 0 0 rg BT 224.40 308.70 Td (amount, ) Tj ET Q q 0 0 0 rg BT 252.48 308.70 Td (the ) Tj ET Q q 0 0 0 rg BT 264.34 308.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 277.53 308.70 Td (value ) Tj ET Q q 0 0 0 rg BT 296.94 308.70 Td (of ) Tj ET Q q 0 0 0 rg BT 305.69 308.70 Td (the ) Tj ET Q q 0 0 0 rg BT 317.55 308.70 Td (reporting ) Tj ET Q q 0 0 0 rg BT 348.96 308.70 Td (unit ) Tj ET Q q 0 0 0 rg BT 363.49 308.70 Td (is ) Tj ET Q q 0 0 0 rg BT 370.91 308.70 Td (then ) Tj ET Q q 0 0 0 rg BT 386.77 308.70 Td (measured ) Tj ET Q q 0 0 0 rg BT 419.51 308.70 Td (against ) Tj ET Q q 0 0 0 rg BT 444.25 308.70 Td (the ) Tj ET Q q 0 0 0 rg BT 456.11 308.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 469.30 308.70 Td (value ) Tj ET Q q 0 0 0 rg BT 488.71 308.70 Td (of ) Tj ET Q q 0 0 0 rg BT 497.46 308.70 Td (its ) Tj ET Q q 0 0 0 rg BT 507.11 308.70 Td (underlying ) Tj ET Q q 0 0 0 rg BT 543.85 308.70 Td (assets ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 299.10 Td (and ) Tj ET Q q 0 0 0 rg BT 63.41 299.10 Td (liabilities, ) Tj ET Q q 0 0 0 rg BT 97.54 299.10 Td (excluding ) Tj ET Q q 0 0 0 rg BT 131.44 299.10 Td (goodwill, ) Tj ET Q q 0 0 0 rg BT 164.24 299.10 Td (to ) Tj ET Q q 0 0 0 rg BT 172.82 299.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 201.83 299.10 Td (the ) Tj ET Q q 0 0 0 rg BT 213.96 299.10 Td (implied ) Tj ET Q q 0 0 0 rg BT 240.75 299.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 254.21 299.10 Td (value ) Tj ET Q q 0 0 0 rg BT 273.89 299.10 Td (of ) Tj ET Q q 0 0 0 rg BT 282.91 299.10 Td (the ) Tj ET Q q 0 0 0 rg BT 295.04 299.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 326.72 299.10 Td (unit's ) Tj ET Q q 0 0 0 rg BT 346.07 299.10 Td (goodwill. ) Tj ET Q q 0 0 0 rg BT 378.70 299.10 Td (The ) Tj ET Q q 0 0 0 rg BT 393.50 299.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 406.95 299.10 Td (value ) Tj ET Q q 0 0 0 rg BT 426.63 299.10 Td (of ) Tj ET Q q 0 0 0 rg BT 435.65 299.10 Td (each ) Tj ET Q q 0 0 0 rg BT 452.66 299.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 484.34 299.10 Td (unit ) Tj ET Q q 0 0 0 rg BT 499.14 299.10 Td (is ) Tj ET Q q 0 0 0 rg BT 506.83 299.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 545.17 299.10 Td (using ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 289.50 Td (discounted ) Tj ET Q q 0 0 0 rg BT 86.17 289.50 Td (estimated ) Tj ET Q q 0 0 0 rg BT 118.84 289.50 Td (future ) Tj ET Q q 0 0 0 rg BT 139.95 289.50 Td (cash ) Tj ET Q q 0 0 0 rg BT 156.18 289.50 Td (flow ) Tj ET Q q 0 0 0 rg BT 172.86 289.50 Td (models. ) Tj ET Q q 0 0 0 rg BT 199.98 289.50 Td (Our ) Tj ET Q q 0 0 0 rg BT 214.43 289.50 Td (expectations ) Tj ET Q q 0 0 0 rg BT 256.43 289.50 Td (of ) Tj ET Q q 0 0 0 rg BT 265.10 289.50 Td (these ) Tj ET Q q 0 0 0 rg BT 283.55 289.50 Td (cash ) Tj ET Q q 0 0 0 rg BT 299.78 289.50 Td (flows ) Tj ET Q q 0 0 0 rg BT 319.57 289.50 Td (are ) Tj ET Q q 0 0 0 rg BT 331.34 289.50 Td (developed ) Tj ET Q q 0 0 0 rg BT 366.23 289.50 Td (during ) Tj ET Q q 0 0 0 rg BT 389.13 289.50 Td (our ) Tj ET Q q 0 0 0 rg BT 401.80 289.50 Td (long- ) Tj ET Q q 0 0 0 rg BT 420.70 289.50 Td (and ) Tj ET Q q 0 0 0 rg BT 434.27 289.50 Td (short-range ) Tj ET Q q 0 0 0 rg BT 472.71 289.50 Td (business ) Tj ET Q q 0 0 0 rg BT 501.83 289.50 Td (planning ) Tj ET Q q 0 0 0 rg BT 531.84 289.50 Td (processes ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 279.90 Td (and ) Tj ET Q q 0 0 0 rg BT 62.80 279.90 Td (incorporate ) Tj ET Q q 0 0 0 rg BT 100.98 279.90 Td (several ) Tj ET Q q 0 0 0 rg BT 125.38 279.90 Td (variables, ) Tj ET Q q 0 0 0 rg BT 158.00 279.90 Td (including, ) Tj ET Q q 0 0 0 rg BT 191.97 279.90 Td (but ) Tj ET Q q 0 0 0 rg BT 203.95 279.90 Td (not ) Tj ET Q q 0 0 0 rg BT 215.92 279.90 Td (limited ) Tj ET Q q 0 0 0 rg BT 240.33 279.90 Td (to, ) Tj ET Q q 0 0 0 rg BT 250.30 279.90 Td (discounted ) Tj ET Q q 0 0 0 rg BT 286.71 279.90 Td (cash ) Tj ET Q q 0 0 0 rg BT 302.68 279.90 Td (flows ) Tj ET Q q 0 0 0 rg BT 322.21 279.90 Td (of ) Tj ET Q q 0 0 0 rg BT 330.62 279.90 Td (a ) Tj ET Q q 0 0 0 rg BT 335.92 279.90 Td (typical ) Tj ET Q q 0 0 0 rg BT 359.44 279.90 Td (market ) Tj ET Q q 0 0 0 rg BT 383.40 279.90 Td (participant, ) Tj ET Q q 0 0 0 rg BT 421.36 279.90 Td (future ) Tj ET Q q 0 0 0 rg BT 442.21 279.90 Td (market ) Tj ET Q q 0 0 0 rg BT 466.17 279.90 Td (revenue ) Tj ET Q q 0 0 0 rg BT 493.24 279.90 Td (and ) Tj ET Q q 0 0 0 rg BT 506.54 279.90 Td (long-term ) Tj ET Q q 0 0 0 rg BT 539.84 279.90 Td (growth ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 270.30 Td (projections, ) Tj ET Q q 0 0 0 rg BT 89.33 270.30 Td (estimated ) Tj ET Q q 0 0 0 rg BT 122.28 270.30 Td (market ) Tj ET Q q 0 0 0 rg BT 146.78 270.30 Td (share ) Tj ET Q q 0 0 0 rg BT 165.94 270.30 Td (for ) Tj ET Q q 0 0 0 rg BT 177.56 270.30 Td (the ) Tj ET Q q 0 0 0 rg BT 189.62 270.30 Td (typical ) Tj ET Q q 0 0 0 rg BT 213.67 270.30 Td (participant ) Tj ET Q q 0 0 0 rg BT 250.17 270.30 Td (and ) Tj ET Q q 0 0 0 rg BT 264.01 270.30 Td (estimated ) Tj ET Q q 0 0 0 rg BT 296.95 270.30 Td (profit ) Tj ET Q q 0 0 0 rg BT 317.01 270.30 Td (mar) Tj ET Q q 0 0 0 rg BT 329.30 270.30 Td (gins ) Tj ET Q q 0 0 0 rg BT 344.93 270.30 Td (based ) Tj ET Q q 0 0 0 rg BT 365.43 270.30 Td (on ) Tj ET Q q 0 0 0 rg BT 375.71 270.30 Td (market ) Tj ET Q q 0 0 0 rg BT 400.21 270.30 Td (size ) Tj ET Q q 0 0 0 rg BT 414.94 270.30 Td (and ) Tj ET Q q 0 0 0 rg BT 428.78 270.30 Td (operation ) Tj ET Q q 0 0 0 rg BT 461.27 270.30 Td (type. ) Tj ET Q q 0 0 0 rg BT 479.17 270.30 Td (The ) Tj ET Q q 0 0 0 rg BT 493.89 270.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 510.40 270.30 Td (flow ) Tj ET Q q 0 0 0 rg BT 527.35 270.30 Td (model ) Tj ET Q q 0 0 0 rg BT 549.63 270.30 Td (also ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 260.70 Td (assumes ) Tj ET Q q 0 0 0 rg BT 77.78 260.70 Td (outlays ) Tj ET Q q 0 0 0 rg BT 102.50 260.70 Td (for ) Tj ET Q q 0 0 0 rg BT 113.44 260.70 Td (capital ) Tj ET Q q 0 0 0 rg BT 136.37 260.70 Td (expenditures, ) Tj ET Q q 0 0 0 rg BT 180.85 260.70 Td (future ) Tj ET Q q 0 0 0 rg BT 201.57 260.70 Td (terminal ) Tj ET Q q 0 0 0 rg BT 229.83 260.70 Td (values, ) Tj ET Q q 0 0 0 rg BT 253.88 260.70 Td (an ) Tj ET Q q 0 0 0 rg BT 263.04 260.70 Td (ef) Tj ET Q q 0 0 0 rg BT 269.12 260.70 Td (fective ) Tj ET Q q 0 0 0 rg BT 292.49 260.70 Td (tax ) Tj ET Q q 0 0 0 rg BT 303.87 260.70 Td (rate ) Tj ET Q q 0 0 0 rg BT 317.47 260.70 Td (assumption ) Tj ET Q q 0 0 0 rg BT 355.53 260.70 Td (and ) Tj ET Q q 0 0 0 rg BT 368.69 260.70 Td (a ) Tj ET Q q 0 0 0 rg BT 373.85 260.70 Td (discount ) Tj ET Q q 0 0 0 rg BT 402.57 260.70 Td (rate ) Tj ET Q q 0 0 0 rg BT 416.17 260.70 Td (based ) Tj ET Q q 0 0 0 rg BT 436.00 260.70 Td (on ) Tj ET Q q 0 0 0 rg BT 445.61 260.70 Td (a ) Tj ET Q q 0 0 0 rg BT 450.77 260.70 Td (number ) Tj ET Q q 0 0 0 rg BT 476.82 260.70 Td (of ) Tj ET Q q 0 0 0 rg BT 485.10 260.70 Td (factors ) Tj ET Q q 0 0 0 rg BT 508.47 260.70 Td (including ) Tj ET Q q 0 0 0 rg BT 540.30 260.70 Td (market ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 251.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 75.05 251.10 Td (rates, ) Tj ET Q q 0 0 0 rg BT 94.15 251.10 Td (and ) Tj ET Q q 0 0 0 rg BT 107.70 251.10 Td (a ) Tj ET Q q 0 0 0 rg BT 113.25 251.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 144.57 251.10 Td (average ) Tj ET Q q 0 0 0 rg BT 171.44 251.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 186.33 251.10 Td (of ) Tj ET Q q 0 0 0 rg BT 194.99 251.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 218.31 251.10 Td (analysis ) Tj ET Q q 0 0 0 rg BT 246.09 251.10 Td (of ) Tj ET Q q 0 0 0 rg BT 254.75 251.10 Td (the ) Tj ET Q q 0 0 0 rg BT 266.52 251.10 Td (media ) Tj ET Q q 0 0 0 rg BT 288.07 251.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 316.29 251.10 Td (which ) Tj ET Q q 0 0 0 rg BT 337.84 251.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 366.50 251.10 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 406.72 251.10 Td (for ) Tj ET Q q 0 0 0 rg BT 418.05 251.10 Td (market ) Tj ET Q q 0 0 0 rg BT 442.26 251.10 Td (risk.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 235.50 Td (An ) Tj ET Q q 0 0 0 rg BT 61.19 235.50 Td (impairment ) Tj ET Q q 0 0 0 rg BT 99.98 235.50 Td (loss ) Tj ET Q q 0 0 0 rg BT 114.34 235.50 Td (is ) Tj ET Q q 0 0 0 rg BT 121.59 235.50 Td (recognized ) Tj ET Q q 0 0 0 rg BT 158.59 235.50 Td (for ) Tj ET Q q 0 0 0 rg BT 169.83 235.50 Td (any ) Tj ET Q q 0 0 0 rg BT 183.29 235.50 Td (excess ) Tj ET Q q 0 0 0 rg BT 206.09 235.50 Td (of ) Tj ET Q q 0 0 0 rg BT 214.66 235.50 Td (the ) Tj ET Q q 0 0 0 rg BT 226.35 235.50 Td (carrying ) Tj ET Q q 0 0 0 rg BT 254.91 235.50 Td (amount ) Tj ET Q q 0 0 0 rg BT 280.82 235.50 Td (of ) Tj ET Q q 0 0 0 rg BT 289.40 235.50 Td (the ) Tj ET Q q 0 0 0 rg BT 301.08 235.50 Td (reporting ) Tj ET Q q 0 0 0 rg BT 332.32 235.50 Td (unit's ) Tj ET Q q 0 0 0 rg BT 351.23 235.50 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 381.59 235.50 Td (over ) Tj ET Q q 0 0 0 rg BT 397.71 235.50 Td (the ) Tj ET Q q 0 0 0 rg BT 409.40 235.50 Td (implied ) Tj ET Q q 0 0 0 rg BT 435.75 235.50 Td (fair ) Tj ET Q q 0 0 0 rg BT 448.77 235.50 Td (value. ) Tj ET Q q 0 0 0 rg BT 470.00 235.50 Td (If ) Tj ET Q q 0 0 0 rg BT 477.24 235.50 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 507.60 235.50 Td (and ) Tj ET Q q 0 0 0 rg BT 521.06 235.50 Td (another ) Tj ET Q q 0 0 0 rg BT 546.96 235.50 Td (asset ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 225.90 Td (or ) Tj ET Q q 0 0 0 rg BT 58.13 225.90 Td (asset ) Tj ET Q q 0 0 0 rg BT 75.66 225.90 Td (group ) Tj ET Q q 0 0 0 rg BT 96.29 225.90 Td (are ) Tj ET Q q 0 0 0 rg BT 108.03 225.90 Td (tested ) Tj ET Q q 0 0 0 rg BT 128.66 225.90 Td (for ) Tj ET Q q 0 0 0 rg BT 139.96 225.90 Td (impairment ) Tj ET Q q 0 0 0 rg BT 178.81 225.90 Td (at ) Tj ET Q q 0 0 0 rg BT 186.55 225.90 Td (the ) Tj ET Q q 0 0 0 rg BT 198.29 225.90 Td (same ) Tj ET Q q 0 0 0 rg BT 216.70 225.90 Td (time, ) Tj ET Q q 0 0 0 rg BT 234.89 225.90 Td (the ) Tj ET Q q 0 0 0 rg BT 246.64 225.90 Td (other ) Tj ET Q q 0 0 0 rg BT 265.04 225.90 Td (assets ) Tj ET Q q 0 0 0 rg BT 285.68 225.90 Td (are ) Tj ET Q q 0 0 0 rg BT 297.42 225.90 Td (tested ) Tj ET Q q 0 0 0 rg BT 318.05 225.90 Td (for ) Tj ET Q q 0 0 0 rg BT 329.35 225.90 Td (impairment ) Tj ET Q q 0 0 0 rg BT 368.20 225.90 Td (before ) Tj ET Q q 0 0 0 rg BT 390.60 225.90 Td (goodwill. ) Tj ET Q q 0 0 0 rg BT 423.01 225.90 Td (If ) Tj ET Q q 0 0 0 rg BT 430.31 225.90 Td (the ) Tj ET Q q 0 0 0 rg BT 442.05 225.90 Td (other ) Tj ET Q q 0 0 0 rg BT 460.46 225.90 Td (asset ) Tj ET Q q 0 0 0 rg BT 477.98 225.90 Td (or ) Tj ET Q q 0 0 0 rg BT 486.62 225.90 Td (asset ) Tj ET Q q 0 0 0 rg BT 504.14 225.90 Td (group ) Tj ET Q q 0 0 0 rg BT 524.78 225.90 Td (is ) Tj ET Q q 0 0 0 rg BT 532.08 225.90 Td (impaired, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 216.30 Td (this ) Tj ET Q q 0 0 0 rg BT 63.06 216.30 Td (impairment ) Tj ET Q q 0 0 0 rg BT 101.94 216.30 Td (loss ) Tj ET Q q 0 0 0 rg BT 116.39 216.30 Td (is ) Tj ET Q q 0 0 0 rg BT 123.72 216.30 Td (recognized ) Tj ET Q q 0 0 0 rg BT 160.81 216.30 Td (prior ) Tj ET Q q 0 0 0 rg BT 178.36 216.30 Td (to ) Tj ET Q q 0 0 0 rg BT 186.59 216.30 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 217.03 216.30 Td (being ) Tj ET Q q 0 0 0 rg BT 236.80 216.30 Td (tested ) Tj ET Q q 0 0 0 rg BT 257.46 216.30 Td (for ) Tj ET Q q 0 0 0 rg BT 268.79 216.30 Td (impairment.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 200.70 Td (Indefinite-lived ) Tj ET Q q 0 0 0 rg BT 101.17 200.70 Td (intangible ) Tj ET Q q 0 0 0 rg BT 135.07 200.70 Td (assets ) Tj ET Q q 0 0 0 rg BT 155.64 200.70 Td (are ) Tj ET Q q 0 0 0 rg BT 167.32 200.70 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 199.87 200.70 Td (for ) Tj ET Q q 0 0 0 rg BT 211.11 200.70 Td (impairment ) Tj ET Q q 0 0 0 rg BT 249.90 200.70 Td (by ) Tj ET Q q 0 0 0 rg BT 259.81 200.70 Td (comparing ) Tj ET Q q 0 0 0 rg BT 295.93 200.70 Td (the ) Tj ET Q q 0 0 0 rg BT 307.61 200.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 320.62 200.70 Td (value ) Tj ET Q q 0 0 0 rg BT 339.86 200.70 Td (of ) Tj ET Q q 0 0 0 rg BT 348.43 200.70 Td (the ) Tj ET Q q 0 0 0 rg BT 360.11 200.70 Td (asset ) Tj ET Q q 0 0 0 rg BT 377.57 200.70 Td (to ) Tj ET Q q 0 0 0 rg BT 385.70 200.70 Td (its ) Tj ET Q q 0 0 0 rg BT 395.17 200.70 Td (carrying ) Tj ET Q q 0 0 0 rg BT 423.73 200.70 Td (amount. ) Tj ET Q q 0 0 0 rg BT 451.22 200.70 Td (Any ) Tj ET Q q 0 0 0 rg BT 466.90 200.70 Td (excess ) Tj ET Q q 0 0 0 rg BT 489.69 200.70 Td (of ) Tj ET Q q 0 0 0 rg BT 498.26 200.70 Td (the ) Tj ET Q q 0 0 0 rg BT 509.95 200.70 Td (carrying ) Tj ET Q q 0 0 0 rg BT 538.51 200.70 Td (amount ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 191.10 Td (over ) Tj ET Q q 0 0 0 rg BT 65.71 191.10 Td (the ) Tj ET Q q 0 0 0 rg BT 77.49 191.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 90.59 191.10 Td (value ) Tj ET Q q 0 0 0 rg BT 109.91 191.10 Td (is ) Tj ET Q q 0 0 0 rg BT 117.25 191.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 154.34 191.10 Td (as ) Tj ET Q q 0 0 0 rg BT 163.00 191.10 Td (an ) Tj ET Q q 0 0 0 rg BT 172.55 191.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 211.43 191.10 Td (char) Tj ET Q q 0 0 0 rg BT 225.05 191.10 Td (ge.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 175.50 Td (Recoverability ) Tj ET Q q 0 0 0 rg BT 98.40 175.50 Td (of ) Tj ET Q q 0 0 0 rg BT 106.86 175.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 127.33 175.50 Td (to ) Tj ET Q q 0 0 0 rg BT 135.36 175.50 Td (be ) Tj ET Q q 0 0 0 rg BT 144.71 175.50 Td (held ) Tj ET Q q 0 0 0 rg BT 160.29 175.50 Td (and ) Tj ET Q q 0 0 0 rg BT 173.64 175.50 Td (used ) Tj ET Q q 0 0 0 rg BT 190.11 175.50 Td (is ) Tj ET Q q 0 0 0 rg BT 197.24 175.50 Td (measured ) Tj ET Q q 0 0 0 rg BT 229.70 175.50 Td (by ) Tj ET Q q 0 0 0 rg BT 239.50 175.50 Td (a ) Tj ET Q q 0 0 0 rg BT 244.86 175.50 Td (comparison ) Tj ET Q q 0 0 0 rg BT 283.98 175.50 Td (of ) Tj ET Q q 0 0 0 rg BT 292.45 175.50 Td (the ) Tj ET Q q 0 0 0 rg BT 304.03 175.50 Td (carrying ) Tj ET Q q 0 0 0 rg BT 332.48 175.50 Td (amount ) Tj ET Q q 0 0 0 rg BT 358.28 175.50 Td (of ) Tj ET Q q 0 0 0 rg BT 366.75 175.50 Td (an ) Tj ET Q q 0 0 0 rg BT 376.10 175.50 Td (asset ) Tj ET Q q 0 0 0 rg BT 393.45 175.50 Td (group ) Tj ET Q q 0 0 0 rg BT 413.92 175.50 Td (to ) Tj ET Q q 0 0 0 rg BT 421.95 175.50 Td (our ) Tj ET Q q 0 0 0 rg BT 434.41 175.50 Td (estimate ) Tj ET Q q 0 0 0 rg BT 462.87 175.50 Td (of ) Tj ET Q q 0 0 0 rg BT 471.34 175.50 Td (the ) Tj ET Q q 0 0 0 rg BT 482.91 175.50 Td (undiscounted ) Tj ET Q q 0 0 0 rg BT 527.38 175.50 Td (future ) Tj ET Q q 0 0 0 rg BT 548.28 175.50 Td (cash ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 165.90 Td (flows ) Tj ET Q q 0 0 0 rg BT 68.95 165.90 Td (we ) Tj ET Q q 0 0 0 rg BT 79.96 165.90 Td (expect ) Tj ET Q q 0 0 0 rg BT 102.50 165.90 Td (that ) Tj ET Q q 0 0 0 rg BT 116.18 165.90 Td (asset ) Tj ET Q q 0 0 0 rg BT 133.40 165.90 Td (group ) Tj ET Q q 0 0 0 rg BT 153.74 165.90 Td (will ) Tj ET Q q 0 0 0 rg BT 167.86 165.90 Td (generate. ) Tj ET Q q 0 0 0 rg BT 198.63 165.90 Td (If ) Tj ET Q q 0 0 0 rg BT 205.63 165.90 Td (the ) Tj ET Q q 0 0 0 rg BT 217.08 165.90 Td (carrying ) Tj ET Q q 0 0 0 rg BT 245.40 165.90 Td (amount ) Tj ET Q q 0 0 0 rg BT 271.07 165.90 Td (of ) Tj ET Q q 0 0 0 rg BT 279.41 165.90 Td (an ) Tj ET Q q 0 0 0 rg BT 288.64 165.90 Td (asset ) Tj ET Q q 0 0 0 rg BT 305.86 165.90 Td (exceeds ) Tj ET Q q 0 0 0 rg BT 332.86 165.90 Td (our ) Tj ET Q q 0 0 0 rg BT 345.19 165.90 Td (estimate ) Tj ET Q q 0 0 0 rg BT 373.53 165.90 Td (of ) Tj ET Q q 0 0 0 rg BT 381.86 165.90 Td (its ) Tj ET Q q 0 0 0 rg BT 391.10 165.90 Td (undiscounted ) Tj ET Q q 0 0 0 rg BT 435.43 165.90 Td (future ) Tj ET Q q 0 0 0 rg BT 456.21 165.90 Td (cash ) Tj ET Q q 0 0 0 rg BT 472.10 165.90 Td (flows, ) Tj ET Q q 0 0 0 rg BT 493.55 165.90 Td (an ) Tj ET Q q 0 0 0 rg BT 502.78 165.90 Td (impairment ) Tj ET Q q 0 0 0 rg BT 541.33 165.90 Td (char) Tj ET Q q 0 0 0 rg BT 554.95 165.90 Td (ge ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 156.30 Td (is ) Tj ET Q q 0 0 0 rg BT 56.84 156.30 Td (recognized ) Tj ET Q q 0 0 0 rg BT 93.93 156.30 Td (equal ) Tj ET Q q 0 0 0 rg BT 113.25 156.30 Td (to ) Tj ET Q q 0 0 0 rg BT 121.47 156.30 Td (the ) Tj ET Q q 0 0 0 rg BT 133.25 156.30 Td (amount ) Tj ET Q q 0 0 0 rg BT 159.24 156.30 Td (by ) Tj ET Q q 0 0 0 rg BT 169.24 156.30 Td (which ) Tj ET Q q 0 0 0 rg BT 190.79 156.30 Td (the ) Tj ET Q q 0 0 0 rg BT 202.57 156.30 Td (carrying ) Tj ET Q q 0 0 0 rg BT 231.22 156.30 Td (amount ) Tj ET Q q 0 0 0 rg BT 257.21 156.30 Td (exceeds ) Tj ET Q q 0 0 0 rg BT 284.53 156.30 Td (the ) Tj ET Q q 0 0 0 rg BT 296.30 156.30 Td (fair ) Tj ET Q q 0 0 0 rg BT 309.41 156.30 Td (value ) Tj ET Q q 0 0 0 rg BT 328.73 156.30 Td (of ) Tj ET Q q 0 0 0 rg BT 337.39 156.30 Td (the ) Tj ET Q q 0 0 0 rg BT 349.17 156.30 Td (respective ) Tj ET Q q 0 0 0 rg BT 383.59 156.30 Td (asset.) Tj ET Q endstream endobj 117 0 obj <>] /Rotate 0 /Contents 118 0 R>> endobj 118 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (56) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 723.50 Td (Assessing ) Tj ET Q q 0 0 0 rg BT 83.68 723.50 Td (goodwill, ) Tj ET Q q 0 0 0 rg BT 116.30 723.50 Td (indefinite-lived ) Tj ET Q q 0 0 0 rg BT 167.79 723.50 Td (intangible ) Tj ET Q q 0 0 0 rg BT 201.96 723.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 222.80 723.50 Td (and ) Tj ET Q q 0 0 0 rg BT 236.53 723.50 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 271.59 723.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 292.43 723.50 Td (for ) Tj ET Q q 0 0 0 rg BT 303.93 723.50 Td (impairment ) Tj ET Q q 0 0 0 rg BT 342.98 723.50 Td (is ) Tj ET Q q 0 0 0 rg BT 350.50 723.50 Td (a ) Tj ET Q q 0 0 0 rg BT 356.22 723.50 Td (complex ) Tj ET Q q 0 0 0 rg BT 385.95 723.50 Td (iterative ) Tj ET Q q 0 0 0 rg BT 414.33 723.50 Td (process ) Tj ET Q q 0 0 0 rg BT 440.50 723.50 Td (that ) Tj ET Q q 0 0 0 rg BT 454.67 723.50 Td (requires ) Tj ET Q q 0 0 0 rg BT 482.61 723.50 Td (significant ) Tj ET Q q 0 0 0 rg BT 518.55 723.50 Td (judgment ) Tj ET Q q 0 0 0 rg BT 550.95 723.50 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 713.90 Td (involves ) Tj ET Q q 0 0 0 rg BT 78.37 713.90 Td (a ) Tj ET Q q 0 0 0 rg BT 83.68 713.90 Td (great ) Tj ET Q q 0 0 0 rg BT 101.42 713.90 Td (deal ) Tj ET Q q 0 0 0 rg BT 116.50 713.90 Td (of ) Tj ET Q q 0 0 0 rg BT 124.93 713.90 Td (detailed ) Tj ET Q q 0 0 0 rg BT 152.00 713.90 Td (quantitative ) Tj ET Q q 0 0 0 rg BT 191.53 713.90 Td (and ) Tj ET Q q 0 0 0 rg BT 204.84 713.90 Td (qualitative ) Tj ET Q q 0 0 0 rg BT 240.36 713.90 Td (business-specific ) Tj ET Q q 0 0 0 rg BT 296.77 713.90 Td (analysis ) Tj ET Q q 0 0 0 rg BT 324.30 713.90 Td (and ) Tj ET Q q 0 0 0 rg BT 337.61 713.90 Td (many ) Tj ET Q q 0 0 0 rg BT 357.14 713.90 Td (individual ) Tj ET Q q 0 0 0 rg BT 391.34 713.90 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 432.66 713.90 Td (which ) Tj ET Q q 0 0 0 rg BT 453.96 713.90 Td (fluctuate ) Tj ET Q q 0 0 0 rg BT 483.71 713.90 Td (with ) Tj ET Q q 0 0 0 rg BT 499.69 713.90 Td (the ) Tj ET Q q 0 0 0 rg BT 511.22 713.90 Td (passage ) Tj ET Q q 0 0 0 rg BT 537.86 713.90 Td (of ) Tj ET Q q 0 0 0 rg BT 546.28 713.90 Td (time. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 704.30 Td (Our ) Tj ET Q q 0 0 0 rg BT 64.10 704.30 Td (estimate ) Tj ET Q q 0 0 0 rg BT 92.92 704.30 Td (of ) Tj ET Q q 0 0 0 rg BT 101.74 704.30 Td (the ) Tj ET Q q 0 0 0 rg BT 113.68 704.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 130.05 704.30 Td (flows ) Tj ET Q q 0 0 0 rg BT 149.99 704.30 Td (our ) Tj ET Q q 0 0 0 rg BT 162.81 704.30 Td (operations ) Tj ET Q q 0 0 0 rg BT 198.30 704.30 Td (will ) Tj ET Q q 0 0 0 rg BT 212.90 704.30 Td (generate ) Tj ET Q q 0 0 0 rg BT 242.15 704.30 Td (in ) Tj ET Q q 0 0 0 rg BT 250.54 704.30 Td (future ) Tj ET Q q 0 0 0 rg BT 271.80 704.30 Td (periods ) Tj ET Q q 0 0 0 rg BT 297.51 704.30 Td (forms ) Tj ET Q q 0 0 0 rg BT 318.33 704.30 Td (the ) Tj ET Q q 0 0 0 rg BT 330.27 704.30 Td (basis ) Tj ET Q q 0 0 0 rg BT 348.43 704.30 Td (for ) Tj ET Q q 0 0 0 rg BT 359.91 704.30 Td (most ) Tj ET Q q 0 0 0 rg BT 377.63 704.30 Td (of ) Tj ET Q q 0 0 0 rg BT 386.46 704.30 Td (the ) Tj ET Q q 0 0 0 rg BT 398.39 704.30 Td (significant ) Tj ET Q q 0 0 0 rg BT 434.32 704.30 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 476.04 704.30 Td (inherent ) Tj ET Q q 0 0 0 rg BT 504.41 704.30 Td (in ) Tj ET Q q 0 0 0 rg BT 512.79 704.30 Td (our ) Tj ET Q q 0 0 0 rg BT 525.62 704.30 Td (impairment ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 694.70 Td (reviews. ) Tj ET Q q 0 0 0 rg BT 78.83 694.70 Td (Our ) Tj ET Q q 0 0 0 rg BT 93.73 694.70 Td (expectations ) Tj ET Q q 0 0 0 rg BT 136.17 694.70 Td (of ) Tj ET Q q 0 0 0 rg BT 145.29 694.70 Td (these ) Tj ET Q q 0 0 0 rg BT 164.19 694.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 180.86 694.70 Td (flows ) Tj ET Q q 0 0 0 rg BT 201.09 694.70 Td (are ) Tj ET Q q 0 0 0 rg BT 213.31 694.70 Td (developed ) Tj ET Q q 0 0 0 rg BT 248.64 694.70 Td (during ) Tj ET Q q 0 0 0 rg BT 271.99 694.70 Td (our ) Tj ET Q q 0 0 0 rg BT 285.11 694.70 Td (long- ) Tj ET Q q 0 0 0 rg BT 304.45 694.70 Td (and ) Tj ET Q q 0 0 0 rg BT 318.46 694.70 Td (short-range ) Tj ET Q q 0 0 0 rg BT 357.34 694.70 Td (business ) Tj ET Q q 0 0 0 rg BT 386.91 694.70 Td (planning ) Tj ET Q q 0 0 0 rg BT 417.36 694.70 Td (processes, ) Tj ET Q q 0 0 0 rg BT 452.48 694.70 Td (which ) Tj ET Q q 0 0 0 rg BT 474.48 694.70 Td (are ) Tj ET Q q 0 0 0 rg BT 486.70 694.70 Td (designed ) Tj ET Q q 0 0 0 rg BT 517.60 694.70 Td (to ) Tj ET Q q 0 0 0 rg BT 526.28 694.70 Td (address ) Tj ET Q q 0 0 0 rg BT 552.72 694.70 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 685.10 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 92.42 685.10 Td (inherent ) Tj ET Q q 0 0 0 rg BT 120.67 685.10 Td (in ) Tj ET Q q 0 0 0 rg BT 128.94 685.10 Td (the ) Tj ET Q q 0 0 0 rg BT 140.75 685.10 Td (forecasting ) Tj ET Q q 0 0 0 rg BT 178.34 685.10 Td (process ) Tj ET Q q 0 0 0 rg BT 204.37 685.10 Td (by ) Tj ET Q q 0 0 0 rg BT 214.42 685.10 Td (capturing ) Tj ET Q q 0 0 0 rg BT 246.67 685.10 Td (a ) Tj ET Q q 0 0 0 rg BT 252.27 685.10 Td (range ) Tj ET Q q 0 0 0 rg BT 272.08 685.10 Td (of ) Tj ET Q q 0 0 0 rg BT 280.78 685.10 Td (possible ) Tj ET Q q 0 0 0 rg BT 309.05 685.10 Td (views ) Tj ET Q q 0 0 0 rg BT 329.76 685.10 Td (about ) Tj ET Q q 0 0 0 rg BT 349.58 685.10 Td (key ) Tj ET Q q 0 0 0 rg BT 363.17 685.10 Td (trends ) Tj ET Q q 0 0 0 rg BT 384.77 685.10 Td (which ) Tj ET Q q 0 0 0 rg BT 406.36 685.10 Td (govern ) Tj ET Q q 0 0 0 rg BT 430.62 685.10 Td (future ) Tj ET Q q 0 0 0 rg BT 451.76 685.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 468.02 685.10 Td (flow ) Tj ET Q q 0 0 0 rg BT 484.73 685.10 Td (growth. ) Tj ET Q q 0 0 0 rg BT 511.44 685.10 Td (Historically) Tj ET Q q 0 0 0 rg BT 548.69 685.10 Td (, ) Tj ET Q q 0 0 0 rg BT 552.73 685.10 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 675.50 Td (overall ) Tj ET Q q 0 0 0 rg BT 73.67 675.50 Td (cash ) Tj ET Q q 0 0 0 rg BT 89.85 675.50 Td (flow ) Tj ET Q q 0 0 0 rg BT 106.48 675.50 Td (growth ) Tj ET Q q 0 0 0 rg BT 131.10 675.50 Td (rates ) Tj ET Q q 0 0 0 rg BT 148.17 675.50 Td (achieved ) Tj ET Q q 0 0 0 rg BT 178.55 675.50 Td (by ) Tj ET Q q 0 0 0 rg BT 188.51 675.50 Td (our ) Tj ET Q q 0 0 0 rg BT 201.14 675.50 Td (operations ) Tj ET Q q 0 0 0 rg BT 236.43 675.50 Td (have ) Tj ET Q q 0 0 0 rg BT 253.49 675.50 Td (not ) Tj ET Q q 0 0 0 rg BT 265.67 675.50 Td (provided ) Tj ET Q q 0 0 0 rg BT 296.07 675.50 Td (a ) Tj ET Q q 0 0 0 rg BT 301.59 675.50 Td (good ) Tj ET Q q 0 0 0 rg BT 319.55 675.50 Td (indication ) Tj ET Q q 0 0 0 rg BT 353.50 675.50 Td (of ) Tj ET Q q 0 0 0 rg BT 362.13 675.50 Td (future ) Tj ET Q q 0 0 0 rg BT 383.19 675.50 Td (cash ) Tj ET Q q 0 0 0 rg BT 399.37 675.50 Td (flows. ) Tj ET Q q 0 0 0 rg BT 420.97 675.50 Td (This ) Tj ET Q q 0 0 0 rg BT 437.15 675.50 Td (is ) Tj ET Q q 0 0 0 rg BT 444.45 675.50 Td (lar) Tj ET Q q 0 0 0 rg BT 452.74 675.50 Td (gely ) Tj ET Q q 0 0 0 rg BT 468.48 675.50 Td (because ) Tj ET Q q 0 0 0 rg BT 495.76 675.50 Td (the ) Tj ET Q q 0 0 0 rg BT 507.49 675.50 Td (markets ) Tj ET Q q 0 0 0 rg BT 534.78 675.50 Td (in ) Tj ET Q q 0 0 0 rg BT 542.96 675.50 Td (which ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 665.90 Td (we ) Tj ET Q q 0 0 0 rg BT 60.43 665.90 Td (operate ) Tj ET Q q 0 0 0 rg BT 85.56 665.90 Td (are ) Tj ET Q q 0 0 0 rg BT 96.93 665.90 Td (relatively ) Tj ET Q q 0 0 0 rg BT 128.73 665.90 Td (new ) Tj ET Q q 0 0 0 rg BT 143.66 665.90 Td (and ) Tj ET Q q 0 0 0 rg BT 156.81 665.90 Td (have ) Tj ET Q q 0 0 0 rg BT 173.51 665.90 Td (experienced ) Tj ET Q q 0 0 0 rg BT 213.75 665.90 Td (high ) Tj ET Q q 0 0 0 rg BT 229.57 665.90 Td (levels ) Tj ET Q q 0 0 0 rg BT 249.83 665.90 Td (of ) Tj ET Q q 0 0 0 rg BT 258.09 665.90 Td (growth ) Tj ET Q q 0 0 0 rg BT 282.36 665.90 Td (as ) Tj ET Q q 0 0 0 rg BT 290.62 665.90 Td (advertising ) Tj ET Q q 0 0 0 rg BT 327.76 665.90 Td (markets ) Tj ET Q q 0 0 0 rg BT 354.69 665.90 Td (became ) Tj ET Q q 0 0 0 rg BT 380.71 665.90 Td (rapidly ) Tj ET Q q 0 0 0 rg BT 404.97 665.90 Td (established. ) Tj ET Q q 0 0 0 rg BT 444.12 665.90 Td (Instead, ) Tj ET Q q 0 0 0 rg BT 470.82 665.90 Td (we ) Tj ET Q q 0 0 0 rg BT 481.74 665.90 Td (have ) Tj ET Q q 0 0 0 rg BT 498.44 665.90 Td (observed ) Tj ET Q q 0 0 0 rg BT 528.92 665.90 Td (over ) Tj ET Q q 0 0 0 rg BT 544.73 665.90 Td (many ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 656.30 Td (years ) Tj ET Q q 0 0 0 rg BT 68.52 656.30 Td (a ) Tj ET Q q 0 0 0 rg BT 74.21 656.30 Td (strong ) Tj ET Q q 0 0 0 rg BT 96.35 656.30 Td (positive ) Tj ET Q q 0 0 0 rg BT 123.82 656.30 Td (correlation ) Tj ET Q q 0 0 0 rg BT 160.60 656.30 Td (between ) Tj ET Q q 0 0 0 rg BT 189.39 656.30 Td (the ) Tj ET Q q 0 0 0 rg BT 201.31 656.30 Td (macro ) Tj ET Q q 0 0 0 rg BT 223.43 656.30 Td (economic ) Tj ET Q q 0 0 0 rg BT 256.67 656.30 Td (performance ) Tj ET Q q 0 0 0 rg BT 299.23 656.30 Td (of ) Tj ET Q q 0 0 0 rg BT 308.03 656.30 Td (our ) Tj ET Q q 0 0 0 rg BT 320.83 656.30 Td (markets ) Tj ET Q q 0 0 0 rg BT 348.29 656.30 Td (and ) Tj ET Q q 0 0 0 rg BT 361.98 656.30 Td (the ) Tj ET Q q 0 0 0 rg BT 373.90 656.30 Td (size ) Tj ET Q q 0 0 0 rg BT 388.47 656.30 Td (of ) Tj ET Q q 0 0 0 rg BT 397.28 656.30 Td (the ) Tj ET Q q 0 0 0 rg BT 409.19 656.30 Td (television ) Tj ET Q q 0 0 0 rg BT 442.43 656.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 480.12 656.30 Td (market ) Tj ET Q q 0 0 0 rg BT 504.47 656.30 Td (and ) Tj ET Q q 0 0 0 rg BT 518.16 656.30 Td (ultimately ) Tj ET Q q 0 0 0 rg BT 552.73 656.30 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 646.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 65.74 646.70 Td (flows ) Tj ET Q q 0 0 0 rg BT 85.54 646.70 Td (we ) Tj ET Q q 0 0 0 rg BT 96.88 646.70 Td (generate. ) Tj ET Q q 0 0 0 rg BT 127.85 646.70 Td (W) Tj ET Q q 0 0 0 rg BT 135.08 646.70 Td (ith ) Tj ET Q q 0 0 0 rg BT 145.55 646.70 Td (this ) Tj ET Q q 0 0 0 rg BT 159.13 646.70 Td (in ) Tj ET Q q 0 0 0 rg BT 167.37 646.70 Td (mind, ) Tj ET Q q 0 0 0 rg BT 187.84 646.70 Td (we ) Tj ET Q q 0 0 0 rg BT 199.19 646.70 Td (have ) Tj ET Q q 0 0 0 rg BT 216.31 646.70 Td (placed ) Tj ET Q q 0 0 0 rg BT 239.21 646.70 Td (a ) Tj ET Q q 0 0 0 rg BT 244.78 646.70 Td (high ) Tj ET Q q 0 0 0 rg BT 261.02 646.70 Td (importance ) Tj ET Q q 0 0 0 rg BT 299.03 646.70 Td (on ) Tj ET Q q 0 0 0 rg BT 309.05 646.70 Td (developing ) Tj ET Q q 0 0 0 rg BT 346.62 646.70 Td (our ) Tj ET Q q 0 0 0 rg BT 359.31 646.70 Td (expectations ) Tj ET Q q 0 0 0 rg BT 401.31 646.70 Td (for ) Tj ET Q q 0 0 0 rg BT 412.66 646.70 Td (the ) Tj ET Q q 0 0 0 rg BT 424.46 646.70 Td (future ) Tj ET Q q 0 0 0 rg BT 445.58 646.70 Td (development ) Tj ET Q q 0 0 0 rg BT 488.92 646.70 Td (of ) Tj ET Q q 0 0 0 rg BT 497.61 646.70 Td (the ) Tj ET Q q 0 0 0 rg BT 509.40 646.70 Td (macro ) Tj ET Q q 0 0 0 rg BT 531.41 646.70 Td (economic ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 637.10 Td (environment ) Tj ET Q q 0 0 0 rg BT 91.50 637.10 Td (in ) Tj ET Q q 0 0 0 rg BT 99.28 637.10 Td (general, ) Tj ET Q q 0 0 0 rg BT 126.38 637.10 Td (the ) Tj ET Q q 0 0 0 rg BT 137.72 637.10 Td (advertising ) Tj ET Q q 0 0 0 rg BT 174.83 637.10 Td (market ) Tj ET Q q 0 0 0 rg BT 198.60 637.10 Td (and ) Tj ET Q q 0 0 0 rg BT 211.71 637.10 Td (our ) Tj ET Q q 0 0 0 rg BT 223.94 637.10 Td (share ) Tj ET Q q 0 0 0 rg BT 242.38 637.10 Td (of ) Tj ET Q q 0 0 0 rg BT 250.61 637.10 Td (it ) Tj ET Q q 0 0 0 rg BT 256.62 637.10 Td (in ) Tj ET Q q 0 0 0 rg BT 264.40 637.10 Td (particular) Tj ET Q q 0 0 0 rg BT 294.61 637.10 Td (. ) Tj ET Q q 0 0 0 rg BT 298.06 637.10 Td (While ) Tj ET Q q 0 0 0 rg BT 319.17 637.10 Td (this ) Tj ET Q q 0 0 0 rg BT 332.29 637.10 Td (has ) Tj ET Q q 0 0 0 rg BT 344.52 637.10 Td (involved ) Tj ET Q q 0 0 0 rg BT 374.07 637.10 Td (an ) Tj ET Q q 0 0 0 rg BT 383.19 637.10 Td (appreciation ) Tj ET Q q 0 0 0 rg BT 424.29 637.10 Td (of ) Tj ET Q q 0 0 0 rg BT 432.51 637.10 Td (historical ) Tj ET Q q 0 0 0 rg BT 463.84 637.10 Td (trends, ) Tj ET Q q 0 0 0 rg BT 486.96 637.10 Td (we ) Tj ET Q q 0 0 0 rg BT 497.85 637.10 Td (have ) Tj ET Q q 0 0 0 rg BT 514.51 637.10 Td (placed ) Tj ET Q q 0 0 0 rg BT 536.95 637.10 Td (a ) Tj ET Q q 0 0 0 rg BT 542.06 637.10 Td (higher ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 627.50 Td (emphasis ) Tj ET Q q 0 0 0 rg BT 81.84 627.50 Td (on ) Tj ET Q q 0 0 0 rg BT 92.41 627.50 Td (forecasting ) Tj ET Q q 0 0 0 rg BT 130.52 627.50 Td (these ) Tj ET Q q 0 0 0 rg BT 149.53 627.50 Td (market ) Tj ET Q q 0 0 0 rg BT 174.31 627.50 Td (trends, ) Tj ET Q q 0 0 0 rg BT 198.43 627.50 Td (which ) Tj ET Q q 0 0 0 rg BT 220.55 627.50 Td (has ) Tj ET Q q 0 0 0 rg BT 233.79 627.50 Td (involved ) Tj ET Q q 0 0 0 rg BT 264.36 627.50 Td (detailed ) Tj ET Q q 0 0 0 rg BT 292.25 627.50 Td (review ) Tj ET Q q 0 0 0 rg BT 316.58 627.50 Td (of ) Tj ET Q q 0 0 0 rg BT 325.82 627.50 Td (macro-economic ) Tj ET Q q 0 0 0 rg BT 382.14 627.50 Td (data, ) Tj ET Q q 0 0 0 rg BT 400.03 627.50 Td (a ) Tj ET Q q 0 0 0 rg BT 406.15 627.50 Td (range ) Tj ET Q q 0 0 0 rg BT 426.49 627.50 Td (of ) Tj ET Q q 0 0 0 rg BT 435.72 627.50 Td (both ) Tj ET Q q 0 0 0 rg BT 452.52 627.50 Td (proprietary ) Tj ET Q q 0 0 0 rg BT 490.63 627.50 Td (and ) Tj ET Q q 0 0 0 rg BT 504.75 627.50 Td (publicly-available ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 617.90 Td (estimates ) Tj ET Q q 0 0 0 rg BT 81.27 617.90 Td (for ) Tj ET Q q 0 0 0 rg BT 92.60 617.90 Td (future ) Tj ET Q q 0 0 0 rg BT 113.70 617.90 Td (market ) Tj ET Q q 0 0 0 rg BT 137.91 617.90 Td (development, ) Tj ET Q q 0 0 0 rg BT 183.23 617.90 Td (and ) Tj ET Q q 0 0 0 rg BT 196.78 617.90 Td (a ) Tj ET Q q 0 0 0 rg BT 202.33 617.90 Td (process ) Tj ET Q q 0 0 0 rg BT 228.32 617.90 Td (of ) Tj ET Q q 0 0 0 rg BT 236.99 617.90 Td (on-going ) Tj ET Q q 0 0 0 rg BT 267.88 617.90 Td (consultation ) Tj ET Q q 0 0 0 rg BT 308.98 617.90 Td (with ) Tj ET Q q 0 0 0 rg BT 325.20 617.90 Td (local ) Tj ET Q q 0 0 0 rg BT 342.75 617.90 Td (management.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 602.30 Td (Some ) Tj ET Q q 0 0 0 rg BT 70.18 602.30 Td (of ) Tj ET Q q 0 0 0 rg BT 79.30 602.30 Td (the ) Tj ET Q q 0 0 0 rg BT 91.53 602.30 Td (key ) Tj ET Q q 0 0 0 rg BT 105.54 602.30 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 147.55 602.30 Td (underpinning ) Tj ET Q q 0 0 0 rg BT 192.67 602.30 Td (these ) Tj ET Q q 0 0 0 rg BT 211.56 602.30 Td (forecasts ) Tj ET Q q 0 0 0 rg BT 242.45 602.30 Td (include ) Tj ET Q q 0 0 0 rg BT 268.45 602.30 Td (the ) Tj ET Q q 0 0 0 rg BT 280.68 602.30 Td (size ) Tj ET Q q 0 0 0 rg BT 295.57 602.30 Td (of ) Tj ET Q q 0 0 0 rg BT 304.69 602.30 Td (the ) Tj ET Q q 0 0 0 rg BT 316.92 602.30 Td (absolute ) Tj ET Q q 0 0 0 rg BT 346.04 602.30 Td (reduction ) Tj ET Q q 0 0 0 rg BT 378.70 602.30 Td (in ) Tj ET Q q 0 0 0 rg BT 387.38 602.30 Td (the ) Tj ET Q q 0 0 0 rg BT 399.61 602.30 Td (television ) Tj ET Q q 0 0 0 rg BT 433.17 602.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 471.18 602.30 Td (market ) Tj ET Q q 0 0 0 rg BT 495.84 602.30 Td (during ) Tj ET Q q 0 0 0 rg BT 519.19 602.30 Td (the ) Tj ET Q q 0 0 0 rg BT 531.42 602.30 Td (economic ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 592.70 Td (downturn, ) Tj ET Q q 0 0 0 rg BT 83.90 592.70 Td (the ) Tj ET Q q 0 0 0 rg BT 95.41 592.70 Td (point ) Tj ET Q q 0 0 0 rg BT 113.59 592.70 Td (at ) Tj ET Q q 0 0 0 rg BT 121.10 592.70 Td (which ) Tj ET Q q 0 0 0 rg BT 142.39 592.70 Td (growth ) Tj ET Q q 0 0 0 rg BT 166.79 592.70 Td (will ) Tj ET Q q 0 0 0 rg BT 180.97 592.70 Td (resume ) Tj ET Q q 0 0 0 rg BT 205.81 592.70 Td (and ) Tj ET Q q 0 0 0 rg BT 219.10 592.70 Td (the ) Tj ET Q q 0 0 0 rg BT 230.61 592.70 Td (speed ) Tj ET Q q 0 0 0 rg BT 250.56 592.70 Td (with ) Tj ET Q q 0 0 0 rg BT 266.52 592.70 Td (which ) Tj ET Q q 0 0 0 rg BT 287.80 592.70 Td (historical ) Tj ET Q q 0 0 0 rg BT 319.31 592.70 Td (levels ) Tj ET Q q 0 0 0 rg BT 339.71 592.70 Td (of ) Tj ET Q q 0 0 0 rg BT 348.11 592.70 Td (demand ) Tj ET Q q 0 0 0 rg BT 375.17 592.70 Td (will ) Tj ET Q q 0 0 0 rg BT 389.35 592.70 Td (be ) Tj ET Q q 0 0 0 rg BT 398.63 592.70 Td (achieved. ) Tj ET Q q 0 0 0 rg BT 430.80 592.70 Td (In ) Tj ET Q q 0 0 0 rg BT 439.20 592.70 Td (developing ) Tj ET Q q 0 0 0 rg BT 476.48 592.70 Td (our ) Tj ET Q q 0 0 0 rg BT 488.88 592.70 Td (forecasts ) Tj ET Q q 0 0 0 rg BT 519.05 592.70 Td (of ) Tj ET Q q 0 0 0 rg BT 527.45 592.70 Td (future ) Tj ET Q q 0 0 0 rg BT 548.29 592.70 Td (cash ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 583.10 Td (flows, ) Tj ET Q q 0 0 0 rg BT 70.99 583.10 Td (we ) Tj ET Q q 0 0 0 rg BT 82.04 583.10 Td (take ) Tj ET Q q 0 0 0 rg BT 97.08 583.10 Td (into ) Tj ET Q q 0 0 0 rg BT 111.24 583.10 Td (account ) Tj ET Q q 0 0 0 rg BT 137.83 583.10 Td (available ) Tj ET Q q 0 0 0 rg BT 168.42 583.10 Td (external ) Tj ET Q q 0 0 0 rg BT 195.89 583.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 227.38 583.10 Td (in ) Tj ET Q q 0 0 0 rg BT 235.32 583.10 Td (addition ) Tj ET Q q 0 0 0 rg BT 263.25 583.10 Td (to ) Tj ET Q q 0 0 0 rg BT 271.19 583.10 Td (considering ) Tj ET Q q 0 0 0 rg BT 310.23 583.10 Td (developments ) Tj ET Q q 0 0 0 rg BT 356.38 583.10 Td (in ) Tj ET Q q 0 0 0 rg BT 364.32 583.10 Td (each ) Tj ET Q q 0 0 0 rg BT 380.69 583.10 Td (of ) Tj ET Q q 0 0 0 rg BT 389.07 583.10 Td (our ) Tj ET Q q 0 0 0 rg BT 401.45 583.10 Td (markets, ) Tj ET Q q 0 0 0 rg BT 430.49 583.10 Td (which ) Tj ET Q q 0 0 0 rg BT 451.75 583.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 477.91 583.10 Td (direct ) Tj ET Q q 0 0 0 rg BT 497.83 583.10 Td (evidence ) Tj ET Q q 0 0 0 rg BT 527.97 583.10 Td (of ) Tj ET Q q 0 0 0 rg BT 536.35 583.10 Td (the ) Tj ET Q q 0 0 0 rg BT 547.84 583.10 Td (state ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 573.50 Td (of ) Tj ET Q q 0 0 0 rg BT 58.33 573.50 Td (the ) Tj ET Q q 0 0 0 rg BT 70.27 573.50 Td (market ) Tj ET Q q 0 0 0 rg BT 94.65 573.50 Td (and ) Tj ET Q q 0 0 0 rg BT 108.37 573.50 Td (future ) Tj ET Q q 0 0 0 rg BT 129.64 573.50 Td (market ) Tj ET Q q 0 0 0 rg BT 154.02 573.50 Td (development. ) Tj ET Q q 0 0 0 rg BT 199.51 573.50 Td (In ) Tj ET Q q 0 0 0 rg BT 208.34 573.50 Td (concluding ) Tj ET Q q 0 0 0 rg BT 246.05 573.50 Td (whether ) Tj ET Q q 0 0 0 rg BT 273.99 573.50 Td (a ) Tj ET Q q 0 0 0 rg BT 279.71 573.50 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 310.32 573.50 Td (impairment ) Tj ET Q q 0 0 0 rg BT 349.37 573.50 Td (char) Tj ET Q q 0 0 0 rg BT 362.99 573.50 Td (ge ) Tj ET Q q 0 0 0 rg BT 372.71 573.50 Td (is ) Tj ET Q q 0 0 0 rg BT 380.21 573.50 Td (necessary) Tj ET Q q 0 0 0 rg BT 410.79 573.50 Td (, ) Tj ET Q q 0 0 0 rg BT 414.95 573.50 Td (we ) Tj ET Q q 0 0 0 rg BT 426.45 573.50 Td (perform ) Tj ET Q q 0 0 0 rg BT 454.38 573.50 Td (the ) Tj ET Q q 0 0 0 rg BT 466.32 573.50 Td (impairment ) Tj ET Q q 0 0 0 rg BT 505.37 573.50 Td (test ) Tj ET Q q 0 0 0 rg BT 518.65 573.50 Td (under ) Tj ET Q q 0 0 0 rg BT 539.03 573.50 Td (a ) Tj ET Q q 0 0 0 rg BT 544.75 573.50 Td (range ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 563.90 Td (of ) Tj ET Q q 0 0 0 rg BT 58.07 563.90 Td (possible ) Tj ET Q q 0 0 0 rg BT 86.20 563.90 Td (scenarios. ) Tj ET Q q 0 0 0 rg BT 119.87 563.90 Td (In ) Tj ET Q q 0 0 0 rg BT 128.45 563.90 Td (order ) Tj ET Q q 0 0 0 rg BT 147.23 563.90 Td (to ) Tj ET Q q 0 0 0 rg BT 155.36 563.90 Td (check ) Tj ET Q q 0 0 0 rg BT 175.92 563.90 Td (the ) Tj ET Q q 0 0 0 rg BT 187.60 563.90 Td (reasonableness ) Tj ET Q q 0 0 0 rg BT 237.49 563.90 Td (of ) Tj ET Q q 0 0 0 rg BT 246.06 563.90 Td (the ) Tj ET Q q 0 0 0 rg BT 257.74 563.90 Td (fair ) Tj ET Q q 0 0 0 rg BT 270.75 563.90 Td (values ) Tj ET Q q 0 0 0 rg BT 293.09 563.90 Td (implied ) Tj ET Q q 0 0 0 rg BT 319.44 563.90 Td (by ) Tj ET Q q 0 0 0 rg BT 329.35 563.90 Td (our ) Tj ET Q q 0 0 0 rg BT 341.92 563.90 Td (cash ) Tj ET Q q 0 0 0 rg BT 358.04 563.90 Td (flow ) Tj ET Q q 0 0 0 rg BT 374.62 563.90 Td (estimates ) Tj ET Q q 0 0 0 rg BT 406.29 563.90 Td (we ) Tj ET Q q 0 0 0 rg BT 417.53 563.90 Td (also ) Tj ET Q q 0 0 0 rg BT 432.32 563.90 Td (calculate ) Tj ET Q q 0 0 0 rg BT 462.65 563.90 Td (the ) Tj ET Q q 0 0 0 rg BT 474.33 563.90 Td (value ) Tj ET Q q 0 0 0 rg BT 493.56 563.90 Td (of ) Tj ET Q q 0 0 0 rg BT 502.13 563.90 Td (shares ) Tj ET Q q 0 0 0 rg BT 524.03 563.90 Td (of ) Tj ET Q q 0 0 0 rg BT 532.60 563.90 Td (our ) Tj ET Q q 0 0 0 rg BT 545.18 563.90 Td (Class ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 554.30 Td (A) Tj ET Q q 0 0 0 rg BT 54.84 554.30 Td ( ) Tj ET Q q 0 0 0 rg BT 56.84 554.30 Td (common ) Tj ET Q q 0 0 0 rg BT 86.83 554.30 Td (stock ) Tj ET Q q 0 0 0 rg BT 105.72 554.30 Td (implied ) Tj ET Q q 0 0 0 rg BT 132.16 554.30 Td (by ) Tj ET Q q 0 0 0 rg BT 142.16 554.30 Td (our ) Tj ET Q q 0 0 0 rg BT 154.82 554.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 171.04 554.30 Td (flow ) Tj ET Q q 0 0 0 rg BT 187.70 554.30 Td (forecasts ) Tj ET Q q 0 0 0 rg BT 218.13 554.30 Td (and ) Tj ET Q q 0 0 0 rg BT 231.68 554.30 Td (compare ) Tj ET Q q 0 0 0 rg BT 261.22 554.30 Td (this ) Tj ET Q q 0 0 0 rg BT 274.78 554.30 Td (to ) Tj ET Q q 0 0 0 rg BT 283.00 554.30 Td (actual ) Tj ET Q q 0 0 0 rg BT 304.10 554.30 Td (traded ) Tj ET Q q 0 0 0 rg BT 326.09 554.30 Td (values ) Tj ET Q q 0 0 0 rg BT 348.53 554.30 Td (to ) Tj ET Q q 0 0 0 rg BT 356.75 554.30 Td (understand ) Tj ET Q q 0 0 0 rg BT 393.85 554.30 Td (the ) Tj ET Q q 0 0 0 rg BT 405.63 554.30 Td (dif) Tj ET Q q 0 0 0 rg BT 414.37 554.30 Td (ference ) Tj ET Q q 0 0 0 rg BT 439.90 554.30 Td (between ) Tj ET Q q 0 0 0 rg BT 468.55 554.30 Td (the ) Tj ET Q q 0 0 0 rg BT 480.32 554.30 Td (two.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 538.70 Td (The ) Tj ET Q q 0 0 0 rg BT 63.94 538.70 Td (table ) Tj ET Q q 0 0 0 rg BT 81.48 538.70 Td (below ) Tj ET Q q 0 0 0 rg BT 103.04 538.70 Td (shows ) Tj ET Q q 0 0 0 rg BT 125.04 538.70 Td (the ) Tj ET Q q 0 0 0 rg BT 136.81 538.70 Td (key ) Tj ET Q q 0 0 0 rg BT 150.36 538.70 Td (measurements ) Tj ET Q q 0 0 0 rg BT 198.13 538.70 Td (involved ) Tj ET Q q 0 0 0 rg BT 228.12 538.70 Td (and ) Tj ET Q q 0 0 0 rg BT 241.67 538.70 Td (the ) Tj ET Q q 0 0 0 rg BT 253.45 538.70 Td (valuation ) Tj ET Q q 0 0 0 rg BT 285.21 538.70 Td (methods ) Tj ET Q q 0 0 0 rg BT 314.32 538.70 Td (applied:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 507.20 254.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.50 507.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.50 507.20 254.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 477.20 254.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.50 477.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.50 477.20 254.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 507.2 m 303.5 507.2 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 507.2 m 307.5 507.2 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 507.2 m 561.5 507.2 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 511.43 Td (Measurement) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 310.00 511.43 Td (Valuation Method) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 496.45 Td (Recoverability of carrying amount) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 310.00 496.45 Td (Undiscounted future cash flows \(Level 3 inputs*\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 481.45 Td (Fair value of broadcast licenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 310.00 481.45 Td (Build-out method \(Level 3 inputs*\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 466.45 Td (Fair value of indefinite-lived trademarks) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 310.00 466.45 Td (Relief from royalty method \(Level 3 inputs*\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 451.45 Td (Fair value of reporting units) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 310.00 451.45 Td (Discounted cash flow model \(Level 3 inputs*\)) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 435.10 Td (*As ) Tj ET Q q 0 0 0 rg BT 64.39 435.10 Td (described ) Tj ET Q q 0 0 0 rg BT 97.04 435.10 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 105.27 435.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 122.82 435.10 Td (14, ) Tj ET Q q 0 0 0 rg BT 134.82 435.10 Td ("Financial ) Tj ET Q q 0 0 0 rg BT 169.85 435.10 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 209.63 435.10 Td (and ) Tj ET Q q 0 0 0 rg BT 223.18 435.10 Td (Fair ) Tj ET Q q 0 0 0 rg BT 237.92 435.10 Td (V) Tj ET Q q 0 0 0 rg BT 242.81 435.10 Td (alue ) Tj ET Q q 0 0 0 rg BT 258.13 435.10 Td (Measurements") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 308.05 435.10 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 419.50 Td (Each ) Tj ET Q q 0 0 0 rg BT 67.18 419.50 Td (method ) Tj ET Q q 0 0 0 rg BT 92.88 419.50 Td (noted ) Tj ET Q q 0 0 0 rg BT 112.35 419.50 Td (above ) Tj ET Q q 0 0 0 rg BT 133.14 419.50 Td (involves ) Tj ET Q q 0 0 0 rg BT 161.95 419.50 Td (a ) Tj ET Q q 0 0 0 rg BT 167.20 419.50 Td (number ) Tj ET Q q 0 0 0 rg BT 193.33 419.50 Td (of ) Tj ET Q q 0 0 0 rg BT 201.69 419.50 Td (significant ) Tj ET Q q 0 0 0 rg BT 237.16 419.50 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 278.41 419.50 Td (over ) Tj ET Q q 0 0 0 rg BT 294.32 419.50 Td (an ) Tj ET Q q 0 0 0 rg BT 303.57 419.50 Td (extended ) Tj ET Q q 0 0 0 rg BT 334.14 419.50 Td (period ) Tj ET Q q 0 0 0 rg BT 356.28 419.50 Td (of ) Tj ET Q q 0 0 0 rg BT 364.64 419.50 Td (time ) Tj ET Q q 0 0 0 rg BT 380.55 419.50 Td (which ) Tj ET Q q 0 0 0 rg BT 401.80 419.50 Td (could ) Tj ET Q q 0 0 0 rg BT 421.27 419.50 Td (materially ) Tj ET Q q 0 0 0 rg BT 455.39 419.50 Td (change ) Tj ET Q q 0 0 0 rg BT 479.74 419.50 Td (our ) Tj ET Q q 0 0 0 rg BT 492.10 419.50 Td (decision ) Tj ET Q q 0 0 0 rg BT 520.46 419.50 Td (as ) Tj ET Q q 0 0 0 rg BT 528.82 419.50 Td (to ) Tj ET Q q 0 0 0 rg BT 536.74 419.50 Td (whether ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 409.90 Td (assets ) Tj ET Q q 0 0 0 rg BT 70.52 409.90 Td (are ) Tj ET Q q 0 0 0 rg BT 82.64 409.90 Td (impaired. ) Tj ET Q q 0 0 0 rg BT 115.25 409.90 Td (The ) Tj ET Q q 0 0 0 rg BT 130.04 409.90 Td (most ) Tj ET Q q 0 0 0 rg BT 147.96 409.90 Td (significant ) Tj ET Q q 0 0 0 rg BT 184.08 409.90 Td (of ) Tj ET Q q 0 0 0 rg BT 193.10 409.90 Td (these ) Tj ET Q q 0 0 0 rg BT 211.89 409.90 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 253.80 409.90 Td (include: ) Tj ET Q q 0 0 0 rg BT 281.92 409.90 Td (the ) Tj ET Q q 0 0 0 rg BT 294.05 409.90 Td (discount ) Tj ET Q q 0 0 0 rg BT 323.51 409.90 Td (rate ) Tj ET Q q 0 0 0 rg BT 337.86 409.90 Td (applied, ) Tj ET Q q 0 0 0 rg BT 365.76 409.90 Td (the ) Tj ET Q q 0 0 0 rg BT 377.88 409.90 Td (total ) Tj ET Q q 0 0 0 rg BT 394.46 409.90 Td (advertising ) Tj ET Q q 0 0 0 rg BT 432.36 409.90 Td (market ) Tj ET Q q 0 0 0 rg BT 456.92 409.90 Td (size, ) Tj ET Q q 0 0 0 rg BT 473.71 409.90 Td (achievable ) Tj ET Q q 0 0 0 rg BT 510.26 409.90 Td (levels ) Tj ET Q q 0 0 0 rg BT 531.28 409.90 Td (of ) Tj ET Q q 0 0 0 rg BT 540.29 409.90 Td (market ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 400.30 Td (share, ) Tj ET Q q 0 0 0 rg BT 70.38 400.30 Td (forecast ) Tj ET Q q 0 0 0 rg BT 97.70 400.30 Td (OIBDA) Tj ET Q q 0 0 0 rg BT 122.59 400.30 Td ( ) Tj ET Q q 0 0 0 rg BT 124.59 400.30 Td (and ) Tj ET Q q 0 0 0 rg BT 138.14 400.30 Td (capital ) Tj ET Q q 0 0 0 rg BT 161.46 400.30 Td (expenditure ) Tj ET Q q 0 0 0 rg BT 201.22 400.30 Td (and ) Tj ET Q q 0 0 0 rg BT 214.77 400.30 Td (the ) Tj ET Q q 0 0 0 rg BT 226.54 400.30 Td (rate ) Tj ET Q q 0 0 0 rg BT 240.53 400.30 Td (of ) Tj ET Q q 0 0 0 rg BT 249.20 400.30 Td (growth ) Tj ET Q q 0 0 0 rg BT 273.86 400.30 Td (into ) Tj ET Q q 0 0 0 rg BT 288.30 400.30 Td (perpetuity) Tj ET Q q 0 0 0 rg BT 320.22 400.30 Td (, ) Tj ET Q q 0 0 0 rg BT 324.22 400.30 Td (each ) Tj ET Q q 0 0 0 rg BT 340.87 400.30 Td (described ) Tj ET Q q 0 0 0 rg BT 373.52 400.30 Td (in ) Tj ET Q q 0 0 0 rg BT 381.75 400.30 Td (more ) Tj ET Q q 0 0 0 rg BT 400.18 400.30 Td (detail ) Tj ET Q q 0 0 0 rg BT 419.95 400.30 Td (below:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 384.70 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 384.70 Td (Cost ) Tj ET Q q 0 0 0 rg BT 101.98 384.70 Td (of ) Tj ET Q q 0 0 0 rg BT 110.46 384.70 Td (capital: ) Tj ET Q q 0 0 0 rg BT 135.69 384.70 Td (The ) Tj ET Q q 0 0 0 rg BT 149.94 384.70 Td (cost ) Tj ET Q q 0 0 0 rg BT 164.63 384.70 Td (of ) Tj ET Q q 0 0 0 rg BT 173.11 384.70 Td (capital ) Tj ET Q q 0 0 0 rg BT 196.24 384.70 Td (reflects ) Tj ET Q q 0 0 0 rg BT 221.60 384.70 Td (the ) Tj ET Q q 0 0 0 rg BT 233.18 384.70 Td (return ) Tj ET Q q 0 0 0 rg BT 254.10 384.70 Td (a ) Tj ET Q q 0 0 0 rg BT 259.46 384.70 Td (hypothetical ) Tj ET Q q 0 0 0 rg BT 300.81 384.70 Td (market ) Tj ET Q q 0 0 0 rg BT 324.84 384.70 Td (participant ) Tj ET Q q 0 0 0 rg BT 360.86 384.70 Td (would ) Tj ET Q q 0 0 0 rg BT 382.67 384.70 Td (require ) Tj ET Q q 0 0 0 rg BT 407.13 384.70 Td (for ) Tj ET Q q 0 0 0 rg BT 418.28 384.70 Td (a ) Tj ET Q q 0 0 0 rg BT 423.64 384.70 Td (long-term ) Tj ET Q q 0 0 0 rg BT 457.00 384.70 Td (investment ) Tj ET Q q 0 0 0 rg BT 493.92 384.70 Td (in ) Tj ET Q q 0 0 0 rg BT 501.95 384.70 Td (an ) Tj ET Q q 0 0 0 rg BT 511.31 384.70 Td (asset ) Tj ET Q q 0 0 0 rg BT 528.68 384.70 Td (and ) Tj ET Q q 0 0 0 rg BT 542.04 384.70 Td (can ) Tj ET Q q 0 0 0 rg BT 554.96 384.70 Td (be ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 375.10 Td (viewed ) Tj ET Q q 0 0 0 rg BT 110.18 375.10 Td (as ) Tj ET Q q 0 0 0 rg BT 118.43 375.10 Td (a ) Tj ET Q q 0 0 0 rg BT 123.56 375.10 Td (proxy ) Tj ET Q q 0 0 0 rg BT 143.80 375.10 Td (for ) Tj ET Q q 0 0 0 rg BT 154.71 375.10 Td (the ) Tj ET Q q 0 0 0 rg BT 166.07 375.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 179.65 375.10 Td (of ) Tj ET Q q 0 0 0 rg BT 187.89 375.10 Td (that ) Tj ET Q q 0 0 0 rg BT 201.47 375.10 Td (asset. ) Tj ET Q q 0 0 0 rg BT 220.49 375.10 Td (W) Tj ET Q q 0 0 0 rg BT 227.40 375.10 Td (e ) Tj ET Q q 0 0 0 rg BT 232.53 375.10 Td (calculate ) Tj ET Q q 0 0 0 rg BT 262.53 375.10 Td (the ) Tj ET Q q 0 0 0 rg BT 273.89 375.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 288.36 375.10 Td (of ) Tj ET Q q 0 0 0 rg BT 296.60 375.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 319.50 375.10 Td (according ) Tj ET Q q 0 0 0 rg BT 352.62 375.10 Td (to ) Tj ET Q q 0 0 0 rg BT 360.43 375.10 Td (the ) Tj ET Q q 0 0 0 rg BT 371.78 375.10 Td (Capital ) Tj ET Q q 0 0 0 rg BT 396.12 375.10 Td (Asset ) Tj ET Q q 0 0 0 rg BT 415.48 375.10 Td (Pricing ) Tj ET Q q 0 0 0 rg BT 440.17 375.10 Td (Model ) Tj ET Q q 0 0 0 rg BT 462.64 375.10 Td (using ) Tj ET Q q 0 0 0 rg BT 481.55 375.10 Td (a ) Tj ET Q q 0 0 0 rg BT 486.68 375.10 Td (number ) Tj ET Q q 0 0 0 rg BT 512.70 375.10 Td (of ) Tj ET Q q 0 0 0 rg BT 520.95 375.10 Td (assumptions, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 365.50 Td (the ) Tj ET Q q 0 0 0 rg BT 97.37 365.50 Td (most ) Tj ET Q q 0 0 0 rg BT 115.03 365.50 Td (significant ) Tj ET Q q 0 0 0 rg BT 150.89 365.50 Td (of ) Tj ET Q q 0 0 0 rg BT 159.65 365.50 Td (which ) Tj ET Q q 0 0 0 rg BT 181.30 365.50 Td (is ) Tj ET Q q 0 0 0 rg BT 188.73 365.50 Td (a ) Tj ET Q q 0 0 0 rg BT 194.38 365.50 Td (Country ) Tj ET Q q 0 0 0 rg BT 222.70 365.50 Td (Risk ) Tj ET Q q 0 0 0 rg BT 239.47 365.50 Td (Premium ) Tj ET Q q 0 0 0 rg BT 270.90 365.50 Td (\(CRP\). ) Tj ET Q q 0 0 0 rg BT 302.39 365.50 Td (The ) Tj ET Q q 0 0 0 rg BT 316.93 365.50 Td (CRP) Tj ET Q q 0 0 0 rg BT 331.75 365.50 Td ( ) Tj ET Q q 0 0 0 rg BT 333.85 365.50 Td (reflects ) Tj ET Q q 0 0 0 rg BT 359.48 365.50 Td (the ) Tj ET Q q 0 0 0 rg BT 371.35 365.50 Td (excess ) Tj ET Q q 0 0 0 rg BT 394.33 365.50 Td (risk ) Tj ET Q q 0 0 0 rg BT 408.43 365.50 Td (to ) Tj ET Q q 0 0 0 rg BT 416.75 365.50 Td (an ) Tj ET Q q 0 0 0 rg BT 426.39 365.50 Td (investor ) Tj ET Q q 0 0 0 rg BT 454.26 365.50 Td (of ) Tj ET Q q 0 0 0 rg BT 463.02 365.50 Td (investing ) Tj ET Q q 0 0 0 rg BT 494.45 365.50 Td (in ) Tj ET Q q 0 0 0 rg BT 502.77 365.50 Td (markets ) Tj ET Q q 0 0 0 rg BT 530.19 365.50 Td (other ) Tj ET Q q 0 0 0 rg BT 548.73 365.50 Td (than ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 355.90 Td (the ) Tj ET Q q 0 0 0 rg BT 97.16 355.90 Td (United ) Tj ET Q q 0 0 0 rg BT 120.82 355.90 Td (States ) Tj ET Q q 0 0 0 rg BT 141.82 355.90 Td (and ) Tj ET Q q 0 0 0 rg BT 155.26 355.90 Td (generally ) Tj ET Q q 0 0 0 rg BT 186.91 355.90 Td (fluctuates ) Tj ET Q q 0 0 0 rg BT 219.89 355.90 Td (with ) Tj ET Q q 0 0 0 rg BT 236.00 355.90 Td (expectations ) Tj ET Q q 0 0 0 rg BT 277.88 355.90 Td (of ) Tj ET Q q 0 0 0 rg BT 286.43 355.90 Td (changes ) Tj ET Q q 0 0 0 rg BT 314.08 355.90 Td (in ) Tj ET Q q 0 0 0 rg BT 322.19 355.90 Td (a ) Tj ET Q q 0 0 0 rg BT 327.63 355.90 Td (country's ) Tj ET Q q 0 0 0 rg BT 358.51 355.90 Td (macro-economic ) Tj ET Q q 0 0 0 rg BT 414.15 355.90 Td (environment. ) Tj ET Q q 0 0 0 rg BT 458.33 355.90 Td (The ) Tj ET Q q 0 0 0 rg BT 472.66 355.90 Td (costs ) Tj ET Q q 0 0 0 rg BT 490.54 355.90 Td (of ) Tj ET Q q 0 0 0 rg BT 499.10 355.90 Td (capital ) Tj ET Q q 0 0 0 rg BT 522.30 355.90 Td (that ) Tj ET Q q 0 0 0 rg BT 536.19 355.90 Td (we ) Tj ET Q q 0 0 0 rg BT 547.40 355.90 Td (have ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 346.30 Td (applied ) Tj ET Q q 0 0 0 rg BT 111.13 346.30 Td (to ) Tj ET Q q 0 0 0 rg BT 119.44 346.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 135.73 346.30 Td (flows ) Tj ET Q q 0 0 0 rg BT 155.59 346.30 Td (for ) Tj ET Q q 0 0 0 rg BT 167.00 346.30 Td (our ) Tj ET Q q 0 0 0 rg BT 179.75 346.30 Td (2014 ) Tj ET Q q 0 0 0 rg BT 197.83 346.30 Td (annual ) Tj ET Q q 0 0 0 rg BT 221.24 346.30 Td (impairment ) Tj ET Q q 0 0 0 rg BT 260.20 346.30 Td (test ) Tj ET Q q 0 0 0 rg BT 273.40 346.30 Td (were ) Tj ET Q q 0 0 0 rg BT 291.02 346.30 Td (lower ) Tj ET Q q 0 0 0 rg BT 311.32 346.30 Td (than ) Tj ET Q q 0 0 0 rg BT 327.18 346.30 Td (those ) Tj ET Q q 0 0 0 rg BT 346.15 346.30 Td (we ) Tj ET Q q 0 0 0 rg BT 357.56 346.30 Td (had ) Tj ET Q q 0 0 0 rg BT 371.19 346.30 Td (used ) Tj ET Q q 0 0 0 rg BT 387.94 346.30 Td (in ) Tj ET Q q 0 0 0 rg BT 396.24 346.30 Td (2013 ) Tj ET Q q 0 0 0 rg BT 414.33 346.30 Td (impairment ) Tj ET Q q 0 0 0 rg BT 453.29 346.30 Td (test ) Tj ET Q q 0 0 0 rg BT 466.48 346.30 Td (for ) Tj ET Q q 0 0 0 rg BT 477.89 346.30 Td (all ) Tj ET Q q 0 0 0 rg BT 487.97 346.30 Td (reporting ) Tj ET Q q 0 0 0 rg BT 519.38 346.30 Td (units ) Tj ET Q q 0 0 0 rg BT 537.02 346.30 Td (due ) Tj ET Q q 0 0 0 rg BT 550.65 346.30 Td (to ) Tj ET Q q 0 0 0 rg BT 558.96 346.30 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 336.70 Td (decline ) Tj ET Q q 0 0 0 rg BT 110.60 336.70 Td (in ) Tj ET Q q 0 0 0 rg BT 118.82 336.70 Td (the ) Tj ET Q q 0 0 0 rg BT 130.59 336.70 Td (relevant ) Tj ET Q q 0 0 0 rg BT 158.36 336.70 Td (risk-free ) Tj ET Q q 0 0 0 rg BT 187.45 336.70 Td (rate, ) Tj ET Q q 0 0 0 rg BT 203.44 336.70 Td (lower ) Tj ET Q q 0 0 0 rg BT 223.65 336.70 Td (cost ) Tj ET Q q 0 0 0 rg BT 238.54 336.70 Td (of ) Tj ET Q q 0 0 0 rg BT 247.20 336.70 Td (debt ) Tj ET Q q 0 0 0 rg BT 262.98 336.70 Td (based ) Tj ET Q q 0 0 0 rg BT 283.19 336.70 Td (on ) Tj ET Q q 0 0 0 rg BT 293.19 336.70 Td (analysis ) Tj ET Q q 0 0 0 rg BT 320.96 336.70 Td (of ) Tj ET Q q 0 0 0 rg BT 329.63 336.70 Td (the ) Tj ET Q q 0 0 0 rg BT 341.40 336.70 Td (yields ) Tj ET Q q 0 0 0 rg BT 362.51 336.70 Td (on ) Tj ET Q q 0 0 0 rg BT 372.51 336.70 Td (comparable ) Tj ET Q q 0 0 0 rg BT 411.82 336.70 Td (corporate ) Tj ET Q q 0 0 0 rg BT 444.03 336.70 Td (bonds ) Tj ET Q q 0 0 0 rg BT 465.14 336.70 Td (and ) Tj ET Q q 0 0 0 rg BT 478.69 336.70 Td (decreases ) Tj ET Q q 0 0 0 rg BT 511.34 336.70 Td (in ) Tj ET Q q 0 0 0 rg BT 519.56 336.70 Td (the ) Tj ET Q q 0 0 0 rg BT 531.33 336.70 Td (CRP) Tj ET Q q 0 0 0 rg BT 545.57 336.70 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 321.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 321.10 Td (T) Tj ET Q q 0 0 0 rg BT 89.83 321.10 Td (otal ) Tj ET Q q 0 0 0 rg BT 104.08 321.10 Td (advertising ) Tj ET Q q 0 0 0 rg BT 141.88 321.10 Td (market: ) Tj ET Q q 0 0 0 rg BT 168.41 321.10 Td (The ) Tj ET Q q 0 0 0 rg BT 183.10 321.10 Td (size ) Tj ET Q q 0 0 0 rg BT 197.79 321.10 Td (of ) Tj ET Q q 0 0 0 rg BT 206.71 321.10 Td (the ) Tj ET Q q 0 0 0 rg BT 218.74 321.10 Td (television ) Tj ET Q q 0 0 0 rg BT 252.10 321.10 Td (advertising ) Tj ET Q q 0 0 0 rg BT 289.90 321.10 Td (market ) Tj ET Q q 0 0 0 rg BT 314.37 321.10 Td (ef) Tj ET Q q 0 0 0 rg BT 320.44 321.10 Td (fectively ) Tj ET Q q 0 0 0 rg BT 350.68 321.10 Td (places ) Tj ET Q q 0 0 0 rg BT 372.92 321.10 Td (an ) Tj ET Q q 0 0 0 rg BT 382.72 321.10 Td (upper ) Tj ET Q q 0 0 0 rg BT 403.19 321.10 Td (limit ) Tj ET Q q 0 0 0 rg BT 420.56 321.10 Td (on ) Tj ET Q q 0 0 0 rg BT 430.82 321.10 Td (the ) Tj ET Q q 0 0 0 rg BT 442.85 321.10 Td (advertising ) Tj ET Q q 0 0 0 rg BT 480.65 321.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 508.22 321.10 Td (we ) Tj ET Q q 0 0 0 rg BT 519.80 321.10 Td (can ) Tj ET Q q 0 0 0 rg BT 533.16 321.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 556.29 321.10 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 311.50 Td (earn ) Tj ET Q q 0 0 0 rg BT 101.52 311.50 Td (in ) Tj ET Q q 0 0 0 rg BT 110.00 311.50 Td (each ) Tj ET Q q 0 0 0 rg BT 126.91 311.50 Td (country) Tj ET Q q 0 0 0 rg BT 150.82 311.50 Td (. ) Tj ET Q q 0 0 0 rg BT 155.08 311.50 Td (Our ) Tj ET Q q 0 0 0 rg BT 169.77 311.50 Td (estimate ) Tj ET Q q 0 0 0 rg BT 198.69 311.50 Td (of ) Tj ET Q q 0 0 0 rg BT 207.60 311.50 Td (the ) Tj ET Q q 0 0 0 rg BT 219.63 311.50 Td (total ) Tj ET Q q 0 0 0 rg BT 236.11 311.50 Td (advertising ) Tj ET Q q 0 0 0 rg BT 273.91 311.50 Td (market ) Tj ET Q q 0 0 0 rg BT 298.37 311.50 Td (is ) Tj ET Q q 0 0 0 rg BT 305.96 311.50 Td (developed ) Tj ET Q q 0 0 0 rg BT 341.09 311.50 Td (from ) Tj ET Q q 0 0 0 rg BT 358.90 311.50 Td (a ) Tj ET Q q 0 0 0 rg BT 364.71 311.50 Td (number ) Tj ET Q q 0 0 0 rg BT 391.40 311.50 Td (of ) Tj ET Q q 0 0 0 rg BT 400.32 311.50 Td (external ) Tj ET Q q 0 0 0 rg BT 428.33 311.50 Td (sources, ) Tj ET Q q 0 0 0 rg BT 456.58 311.50 Td (in ) Tj ET Q q 0 0 0 rg BT 465.06 311.50 Td (combination ) Tj ET Q q 0 0 0 rg BT 507.31 311.50 Td (with ) Tj ET Q q 0 0 0 rg BT 523.78 311.50 Td (a ) Tj ET Q q 0 0 0 rg BT 529.59 311.50 Td (process ) Tj ET Q q 0 0 0 rg BT 555.84 311.50 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 301.90 Td (on-going ) Tj ET Q q 0 0 0 rg BT 116.51 301.90 Td (consultation ) Tj ET Q q 0 0 0 rg BT 157.74 301.90 Td (with ) Tj ET Q q 0 0 0 rg BT 174.09 301.90 Td (local ) Tj ET Q q 0 0 0 rg BT 191.76 301.90 Td (management. ) Tj ET Q q 0 0 0 rg BT 236.75 301.90 Td (In ) Tj ET Q q 0 0 0 rg BT 245.54 301.90 Td (our ) Tj ET Q q 0 0 0 rg BT 258.33 301.90 Td (annual ) Tj ET Q q 0 0 0 rg BT 281.78 301.90 Td (impairment ) Tj ET Q q 0 0 0 rg BT 320.78 301.90 Td (review ) Tj ET Q q 0 0 0 rg BT 344.67 301.90 Td (performed ) Tj ET Q q 0 0 0 rg BT 380.11 301.90 Td (in ) Tj ET Q q 0 0 0 rg BT 388.46 301.90 Td (the ) Tj ET Q q 0 0 0 rg BT 400.35 301.90 Td (fourth ) Tj ET Q q 0 0 0 rg BT 422.03 301.90 Td (quarter ) Tj ET Q q 0 0 0 rg BT 446.81 301.90 Td (of ) Tj ET Q q 0 0 0 rg BT 455.59 301.90 Td (2014, ) Tj ET Q q 0 0 0 rg BT 475.72 301.90 Td (we ) Tj ET Q q 0 0 0 rg BT 487.17 301.90 Td (decreased ) Tj ET Q q 0 0 0 rg BT 520.83 301.90 Td (our ) Tj ET Q q 0 0 0 rg BT 533.61 301.90 Td (medium- ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 292.30 Td (and ) Tj ET Q q 0 0 0 rg BT 98.79 292.30 Td (long-term ) Tj ET Q q 0 0 0 rg BT 132.08 292.30 Td (view ) Tj ET Q q 0 0 0 rg BT 149.37 292.30 Td (of ) Tj ET Q q 0 0 0 rg BT 157.77 292.30 Td (the ) Tj ET Q q 0 0 0 rg BT 169.28 292.30 Td (size ) Tj ET Q q 0 0 0 rg BT 183.46 292.30 Td (of ) Tj ET Q q 0 0 0 rg BT 191.86 292.30 Td (the ) Tj ET Q q 0 0 0 rg BT 203.38 292.30 Td (television ) Tj ET Q q 0 0 0 rg BT 236.22 292.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 273.51 292.30 Td (markets ) Tj ET Q q 0 0 0 rg BT 300.57 292.30 Td (based ) Tj ET Q q 0 0 0 rg BT 320.52 292.30 Td (on ) Tj ET Q q 0 0 0 rg BT 330.26 292.30 Td (management's ) Tj ET Q q 0 0 0 rg BT 377.43 292.30 Td (estimate ) Tj ET Q q 0 0 0 rg BT 405.82 292.30 Td (of ) Tj ET Q q 0 0 0 rg BT 414.23 292.30 Td (the ) Tj ET Q q 0 0 0 rg BT 425.74 292.30 Td (timing ) Tj ET Q q 0 0 0 rg BT 448.37 292.30 Td (and ) Tj ET Q q 0 0 0 rg BT 461.66 292.30 Td (strength ) Tj ET Q q 0 0 0 rg BT 489.17 292.30 Td (of ) Tj ET Q q 0 0 0 rg BT 497.58 292.30 Td (the ) Tj ET Q q 0 0 0 rg BT 509.09 292.30 Td (market ) Tj ET Q q 0 0 0 rg BT 533.04 292.30 Td (recovery) Tj ET Q q 0 0 0 rg BT 560.50 292.30 Td (. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 276.70 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 276.70 Td (Market ) Tj ET Q q 0 0 0 rg BT 110.70 276.70 Td (share: ) Tj ET Q q 0 0 0 rg BT 131.76 276.70 Td (This ) Tj ET Q q 0 0 0 rg BT 148.08 276.70 Td (is ) Tj ET Q q 0 0 0 rg BT 155.52 276.70 Td (a ) Tj ET Q q 0 0 0 rg BT 161.17 276.70 Td (function ) Tj ET Q q 0 0 0 rg BT 189.94 276.70 Td (of ) Tj ET Q q 0 0 0 rg BT 198.70 276.70 Td (the ) Tj ET Q q 0 0 0 rg BT 210.58 276.70 Td (audience ) Tj ET Q q 0 0 0 rg BT 241.11 276.70 Td (share ) Tj ET Q q 0 0 0 rg BT 260.09 276.70 Td (we ) Tj ET Q q 0 0 0 rg BT 271.52 276.70 Td (expect ) Tj ET Q q 0 0 0 rg BT 294.50 276.70 Td (our ) Tj ET Q q 0 0 0 rg BT 307.26 276.70 Td (stations ) Tj ET Q q 0 0 0 rg BT 333.81 276.70 Td (to ) Tj ET Q q 0 0 0 rg BT 342.14 276.70 Td (generate, ) Tj ET Q q 0 0 0 rg BT 373.33 276.70 Td (and ) Tj ET Q q 0 0 0 rg BT 386.98 276.70 Td (the ) Tj ET Q q 0 0 0 rg BT 398.86 276.70 Td (relative ) Tj ET Q q 0 0 0 rg BT 424.94 276.70 Td (price ) Tj ET Q q 0 0 0 rg BT 443.04 276.70 Td (at ) Tj ET Q q 0 0 0 rg BT 450.91 276.70 Td (which ) Tj ET Q q 0 0 0 rg BT 472.56 276.70 Td (we ) Tj ET Q q 0 0 0 rg BT 484.00 276.70 Td (can ) Tj ET Q q 0 0 0 rg BT 497.20 276.70 Td (sell ) Tj ET Q q 0 0 0 rg BT 510.41 276.70 Td (advertising. ) Tj ET Q q 0 0 0 rg BT 550.06 276.70 Td (Our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 267.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 114.20 267.10 Td (of ) Tj ET Q q 0 0 0 rg BT 122.90 267.10 Td (the ) Tj ET Q q 0 0 0 rg BT 134.72 267.10 Td (total ) Tj ET Q q 0 0 0 rg BT 150.98 267.10 Td (advertising ) Tj ET Q q 0 0 0 rg BT 188.56 267.10 Td (market ) Tj ET Q q 0 0 0 rg BT 212.82 267.10 Td (is ) Tj ET Q q 0 0 0 rg BT 220.19 267.10 Td (developed ) Tj ET Q q 0 0 0 rg BT 255.11 267.10 Td (from ) Tj ET Q q 0 0 0 rg BT 272.70 267.10 Td (a ) Tj ET Q q 0 0 0 rg BT 278.29 267.10 Td (number ) Tj ET Q q 0 0 0 rg BT 304.77 267.10 Td (of ) Tj ET Q q 0 0 0 rg BT 313.48 267.10 Td (external ) Tj ET Q q 0 0 0 rg BT 341.28 267.10 Td (sources, ) Tj ET Q q 0 0 0 rg BT 369.31 267.10 Td (in ) Tj ET Q q 0 0 0 rg BT 377.58 267.10 Td (combination ) Tj ET Q q 0 0 0 rg BT 419.61 267.10 Td (with ) Tj ET Q q 0 0 0 rg BT 435.87 267.10 Td (a ) Tj ET Q q 0 0 0 rg BT 441.46 267.10 Td (process ) Tj ET Q q 0 0 0 rg BT 467.50 267.10 Td (of ) Tj ET Q q 0 0 0 rg BT 476.20 267.10 Td (on-going ) Tj ET Q q 0 0 0 rg BT 507.13 267.10 Td (consultation ) Tj ET Q q 0 0 0 rg BT 548.28 267.10 Td (with ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 257.50 Td (local ) Tj ET Q q 0 0 0 rg BT 102.76 257.50 Td (management. ) Tj ET Q q 0 0 0 rg BT 147.34 257.50 Td (Our ) Tj ET Q q 0 0 0 rg BT 161.49 257.50 Td (estimates ) Tj ET Q q 0 0 0 rg BT 192.97 257.50 Td (for ) Tj ET Q q 0 0 0 rg BT 204.01 257.50 Td (market ) Tj ET Q q 0 0 0 rg BT 227.93 257.50 Td (share ) Tj ET Q q 0 0 0 rg BT 246.52 257.50 Td (increased ) Tj ET Q q 0 0 0 rg BT 278.43 257.50 Td (slightly ) Tj ET Q q 0 0 0 rg BT 304.14 257.50 Td (from ) Tj ET Q q 0 0 0 rg BT 321.40 257.50 Td (those ) Tj ET Q q 0 0 0 rg BT 340.00 257.50 Td (in ) Tj ET Q q 0 0 0 rg BT 347.93 257.50 Td (our ) Tj ET Q q 0 0 0 rg BT 360.31 257.50 Td (2013 ) Tj ET Q q 0 0 0 rg BT 378.02 257.50 Td (impairment ) Tj ET Q q 0 0 0 rg BT 416.61 257.50 Td (review) Tj ET Q q 0 0 0 rg BT 437.85 257.50 Td (, ) Tj ET Q q 0 0 0 rg BT 441.56 257.50 Td (reflecting ) Tj ET Q q 0 0 0 rg BT 473.92 257.50 Td (our ) Tj ET Q q 0 0 0 rg BT 486.29 257.50 Td (strategy ) Tj ET Q q 0 0 0 rg BT 513.33 257.50 Td (to ) Tj ET Q q 0 0 0 rg BT 521.26 257.50 Td (maintain ) Tj ET Q q 0 0 0 rg BT 550.96 257.50 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 247.90 Td (increase ) Tj ET Q q 0 0 0 rg BT 113.70 247.90 Td (our ) Tj ET Q q 0 0 0 rg BT 126.37 247.90 Td (audience ) Tj ET Q q 0 0 0 rg BT 156.79 247.90 Td (leadership ) Tj ET Q q 0 0 0 rg BT 191.67 247.90 Td (in ) Tj ET Q q 0 0 0 rg BT 199.89 247.90 Td (each ) Tj ET Q q 0 0 0 rg BT 216.54 247.90 Td (of ) Tj ET Q q 0 0 0 rg BT 225.21 247.90 Td (our ) Tj ET Q q 0 0 0 rg BT 237.87 247.90 Td (operations.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 232.30 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 232.30 Td (Forecast ) Tj ET Q q 0 0 0 rg BT 114.17 232.30 Td (OIBDA: ) Tj ET Q q 0 0 0 rg BT 143.17 232.30 Td (The ) Tj ET Q q 0 0 0 rg BT 157.17 232.30 Td (level ) Tj ET Q q 0 0 0 rg BT 174.28 232.30 Td (of ) Tj ET Q q 0 0 0 rg BT 182.51 232.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 198.29 232.30 Td (flow ) Tj ET Q q 0 0 0 rg BT 214.52 232.30 Td (generated ) Tj ET Q q 0 0 0 rg BT 247.17 232.30 Td (by ) Tj ET Q q 0 0 0 rg BT 256.73 232.30 Td (each ) Tj ET Q q 0 0 0 rg BT 272.95 232.30 Td (operation ) Tj ET Q q 0 0 0 rg BT 304.72 232.30 Td (is ) Tj ET Q q 0 0 0 rg BT 311.62 232.30 Td (ultimately ) Tj ET Q q 0 0 0 rg BT 345.62 232.30 Td (governed ) Tj ET Q q 0 0 0 rg BT 376.95 232.30 Td (by ) Tj ET Q q 0 0 0 rg BT 386.52 232.30 Td (the ) Tj ET Q q 0 0 0 rg BT 397.85 232.30 Td (extent ) Tj ET Q q 0 0 0 rg BT 418.96 232.30 Td (to ) Tj ET Q q 0 0 0 rg BT 426.75 232.30 Td (which ) Tj ET Q q 0 0 0 rg BT 447.86 232.30 Td (we ) Tj ET Q q 0 0 0 rg BT 458.75 232.30 Td (manage ) Tj ET Q q 0 0 0 rg BT 485.19 232.30 Td (the ) Tj ET Q q 0 0 0 rg BT 496.53 232.30 Td (relationship ) Tj ET Q q 0 0 0 rg BT 535.86 232.30 Td (between ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 222.70 Td (revenues ) Tj ET Q q 0 0 0 rg BT 116.01 222.70 Td (and ) Tj ET Q q 0 0 0 rg BT 129.64 222.70 Td (costs. ) Tj ET Q q 0 0 0 rg BT 149.57 222.70 Td (W) Tj ET Q q 0 0 0 rg BT 156.48 222.70 Td (e ) Tj ET Q q 0 0 0 rg BT 162.11 222.70 Td (forecast ) Tj ET Q q 0 0 0 rg BT 189.50 222.70 Td (the ) Tj ET Q q 0 0 0 rg BT 201.36 222.70 Td (level ) Tj ET Q q 0 0 0 rg BT 218.98 222.70 Td (of ) Tj ET Q q 0 0 0 rg BT 227.72 222.70 Td (operating ) Tj ET Q q 0 0 0 rg BT 260.01 222.70 Td (costs ) Tj ET Q q 0 0 0 rg BT 278.09 222.70 Td (by ) Tj ET Q q 0 0 0 rg BT 288.17 222.70 Td (reference ) Tj ET Q q 0 0 0 rg BT 320.00 222.70 Td (to ) Tj ET Q q 0 0 0 rg BT 328.30 222.70 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 339.26 222.70 Td (the ) Tj ET Q q 0 0 0 rg BT 351.11 222.70 Td (historical ) Tj ET Q q 0 0 0 rg BT 382.96 222.70 Td (absolute ) Tj ET Q q 0 0 0 rg BT 411.70 222.70 Td (and ) Tj ET Q q 0 0 0 rg BT 425.33 222.70 Td (relative ) Tj ET Q q 0 0 0 rg BT 451.39 222.70 Td (levels ) Tj ET Q q 0 0 0 rg BT 472.13 222.70 Td (of ) Tj ET Q q 0 0 0 rg BT 480.87 222.70 Td (costs ) Tj ET Q q 0 0 0 rg BT 498.95 222.70 Td (we ) Tj ET Q q 0 0 0 rg BT 510.36 222.70 Td (have ) Tj ET Q q 0 0 0 rg BT 527.54 222.70 Td (incurred ) Tj ET Q q 0 0 0 rg BT 556.27 222.70 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 213.10 Td (generating ) Tj ET Q q 0 0 0 rg BT 120.59 213.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 147.23 213.10 Td (in ) Tj ET Q q 0 0 0 rg BT 154.78 213.10 Td (each ) Tj ET Q q 0 0 0 rg BT 170.76 213.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 201.41 213.10 Td (unit, ) Tj ET Q q 0 0 0 rg BT 217.19 213.10 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 227.84 213.10 Td (the ) Tj ET Q q 0 0 0 rg BT 238.94 213.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 270.48 213.10 Td (strategy ) Tj ET Q q 0 0 0 rg BT 297.13 213.10 Td (of ) Tj ET Q q 0 0 0 rg BT 305.12 213.10 Td (each ) Tj ET Q q 0 0 0 rg BT 321.10 213.10 Td (business ) Tj ET Q q 0 0 0 rg BT 349.54 213.10 Td (and ) Tj ET Q q 0 0 0 rg BT 362.42 213.10 Td (\(c\) ) Tj ET Q q 0 0 0 rg BT 372.63 213.10 Td (specific ) Tj ET Q q 0 0 0 rg BT 398.83 213.10 Td (forecast ) Tj ET Q q 0 0 0 rg BT 425.47 213.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 442.80 213.10 Td (to ) Tj ET Q q 0 0 0 rg BT 450.35 213.10 Td (be ) Tj ET Q q 0 0 0 rg BT 459.23 213.10 Td (incurred. ) Tj ET Q q 0 0 0 rg BT 489.21 213.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 502.97 213.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 525.63 213.10 Td (impairment ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 203.50 Td (review ) Tj ET Q q 0 0 0 rg BT 109.27 203.50 Td (includes ) Tj ET Q q 0 0 0 rg BT 137.93 203.50 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 179.48 203.50 Td (to ) Tj ET Q q 0 0 0 rg BT 187.71 203.50 Td (reflect ) Tj ET Q q 0 0 0 rg BT 210.13 203.50 Td (benefits ) Tj ET Q q 0 0 0 rg BT 237.46 203.50 Td (of ) Tj ET Q q 0 0 0 rg BT 246.12 203.50 Td (cost ) Tj ET Q q 0 0 0 rg BT 261.01 203.50 Td (control ) Tj ET Q q 0 0 0 rg BT 285.67 203.50 Td (measures ) Tj ET Q q 0 0 0 rg BT 317.43 203.50 Td (taken ) Tj ET Q q 0 0 0 rg BT 336.76 203.50 Td (to ) Tj ET Q q 0 0 0 rg BT 344.98 203.50 Td (date, ) Tj ET Q q 0 0 0 rg BT 362.30 203.50 Td (and ) Tj ET Q q 0 0 0 rg BT 375.86 203.50 Td (contemplated ) Tj ET Q q 0 0 0 rg BT 420.95 203.50 Td (further ) Tj ET Q q 0 0 0 rg BT 444.71 203.50 Td (cost ) Tj ET Q q 0 0 0 rg BT 459.60 203.50 Td (control ) Tj ET Q q 0 0 0 rg BT 484.26 203.50 Td (ef) Tj ET Q q 0 0 0 rg BT 490.33 203.50 Td (forts.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 187.90 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 187.90 Td (Forecast ) Tj ET Q q 0 0 0 rg BT 114.61 187.90 Td (capital ) Tj ET Q q 0 0 0 rg BT 137.94 187.90 Td (expenditure: ) Tj ET Q q 0 0 0 rg BT 179.79 187.90 Td (The ) Tj ET Q q 0 0 0 rg BT 194.24 187.90 Td (size ) Tj ET Q q 0 0 0 rg BT 208.69 187.90 Td (and ) Tj ET Q q 0 0 0 rg BT 222.25 187.90 Td (phasing ) Tj ET Q q 0 0 0 rg BT 249.15 187.90 Td (of ) Tj ET Q q 0 0 0 rg BT 257.82 187.90 Td (capital ) Tj ET Q q 0 0 0 rg BT 281.15 187.90 Td (expenditure, ) Tj ET Q q 0 0 0 rg BT 322.93 187.90 Td (both ) Tj ET Q q 0 0 0 rg BT 339.16 187.90 Td (recurring ) Tj ET Q q 0 0 0 rg BT 370.49 187.90 Td (expenditure ) Tj ET Q q 0 0 0 rg BT 410.26 187.90 Td (to ) Tj ET Q q 0 0 0 rg BT 418.49 187.90 Td (replace ) Tj ET Q q 0 0 0 rg BT 443.59 187.90 Td (retired ) Tj ET Q q 0 0 0 rg BT 466.48 187.90 Td (assets ) Tj ET Q q 0 0 0 rg BT 487.15 187.90 Td (and ) Tj ET Q q 0 0 0 rg BT 500.72 187.90 Td (investments ) Tj ET Q q 0 0 0 rg BT 540.95 187.90 Td (in ) Tj ET Q q 0 0 0 rg BT 549.18 187.90 Td (new ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 178.30 Td (projects, ) Tj ET Q q 0 0 0 rg BT 115.16 178.30 Td (has ) Tj ET Q q 0 0 0 rg BT 128.16 178.30 Td (a ) Tj ET Q q 0 0 0 rg BT 134.04 178.30 Td (significant ) Tj ET Q q 0 0 0 rg BT 170.14 178.30 Td (impact ) Tj ET Q q 0 0 0 rg BT 194.25 178.30 Td (on ) Tj ET Q q 0 0 0 rg BT 204.58 178.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 221.13 178.30 Td (flows. ) Tj ET Q q 0 0 0 rg BT 243.07 178.30 Td (W) Tj ET Q q 0 0 0 rg BT 249.98 178.30 Td (e ) Tj ET Q q 0 0 0 rg BT 255.87 178.30 Td (forecast ) Tj ET Q q 0 0 0 rg BT 283.52 178.30 Td (the ) Tj ET Q q 0 0 0 rg BT 295.63 178.30 Td (level ) Tj ET Q q 0 0 0 rg BT 313.51 178.30 Td (of ) Tj ET Q q 0 0 0 rg BT 322.51 178.30 Td (future ) Tj ET Q q 0 0 0 rg BT 343.94 178.30 Td (capital ) Tj ET Q q 0 0 0 rg BT 367.60 178.30 Td (expenditure ) Tj ET Q q 0 0 0 rg BT 407.69 178.30 Td (based ) Tj ET Q q 0 0 0 rg BT 428.24 178.30 Td (on ) Tj ET Q q 0 0 0 rg BT 438.57 178.30 Td (current ) Tj ET Q q 0 0 0 rg BT 463.56 178.30 Td (strategies ) Tj ET Q q 0 0 0 rg BT 496.10 178.30 Td (and ) Tj ET Q q 0 0 0 rg BT 509.99 178.30 Td (specific ) Tj ET Q q 0 0 0 rg BT 537.20 178.30 Td (forecast ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 168.70 Td (costs ) Tj ET Q q 0 0 0 rg BT 104.01 168.70 Td (to ) Tj ET Q q 0 0 0 rg BT 112.74 168.70 Td (be ) Tj ET Q q 0 0 0 rg BT 122.80 168.70 Td (incurred. ) Tj ET Q q 0 0 0 rg BT 153.96 168.70 Td (In ) Tj ET Q q 0 0 0 rg BT 163.14 168.70 Td (line ) Tj ET Q q 0 0 0 rg BT 177.64 168.70 Td (with ) Tj ET Q q 0 0 0 rg BT 194.38 168.70 Td (our ) Tj ET Q q 0 0 0 rg BT 207.55 168.70 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 236.28 168.70 Td (ef) Tj ET Q q 0 0 0 rg BT 242.35 168.70 Td (forts ) Tj ET Q q 0 0 0 rg BT 259.53 168.70 Td (to ) Tj ET Q q 0 0 0 rg BT 268.26 168.70 Td (protect ) Tj ET Q q 0 0 0 rg BT 292.98 168.70 Td (our ) Tj ET Q q 0 0 0 rg BT 306.15 168.70 Td (operating ) Tj ET Q q 0 0 0 rg BT 338.88 168.70 Td (mar) Tj ET Q q 0 0 0 rg BT 351.17 168.70 Td (gins, ) Tj ET Q q 0 0 0 rg BT 369.01 168.70 Td (the ) Tj ET Q q 0 0 0 rg BT 381.30 168.70 Td (absolute ) Tj ET Q q 0 0 0 rg BT 410.47 168.70 Td (levels ) Tj ET Q q 0 0 0 rg BT 431.64 168.70 Td (of ) Tj ET Q q 0 0 0 rg BT 440.81 168.70 Td (capital ) Tj ET Q q 0 0 0 rg BT 464.64 168.70 Td (expenditure ) Tj ET Q q 0 0 0 rg BT 504.91 168.70 Td (forecast ) Tj ET Q q 0 0 0 rg BT 532.74 168.70 Td (remained ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 159.10 Td (broadly ) Tj ET Q q 0 0 0 rg BT 111.94 159.10 Td (consistent ) Tj ET Q q 0 0 0 rg BT 145.93 159.10 Td (with ) Tj ET Q q 0 0 0 rg BT 162.16 159.10 Td (the ) Tj ET Q q 0 0 0 rg BT 173.93 159.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 191.48 159.10 Td (year ) Tj ET Q q 0 0 0 rg BT 207.25 159.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 246.13 159.10 Td (reviews.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 143.50 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 143.50 Td (Growth ) Tj ET Q q 0 0 0 rg BT 111.75 143.50 Td (rate ) Tj ET Q q 0 0 0 rg BT 125.55 143.50 Td (into ) Tj ET Q q 0 0 0 rg BT 139.81 143.50 Td (perpetuity: ) Tj ET Q q 0 0 0 rg BT 176.15 143.50 Td (This ) Tj ET Q q 0 0 0 rg BT 192.18 143.50 Td (reflects ) Tj ET Q q 0 0 0 rg BT 217.53 143.50 Td (the ) Tj ET Q q 0 0 0 rg BT 229.12 143.50 Td (level ) Tj ET Q q 0 0 0 rg BT 246.47 143.50 Td (of ) Tj ET Q q 0 0 0 rg BT 254.95 143.50 Td (economic ) Tj ET Q q 0 0 0 rg BT 287.86 143.50 Td (growth ) Tj ET Q q 0 0 0 rg BT 312.33 143.50 Td (in ) Tj ET Q q 0 0 0 rg BT 320.37 143.50 Td (each ) Tj ET Q q 0 0 0 rg BT 336.83 143.50 Td (of ) Tj ET Q q 0 0 0 rg BT 345.31 143.50 Td (our ) Tj ET Q q 0 0 0 rg BT 357.78 143.50 Td (markets ) Tj ET Q q 0 0 0 rg BT 384.92 143.50 Td (from ) Tj ET Q q 0 0 0 rg BT 402.28 143.50 Td (the ) Tj ET Q q 0 0 0 rg BT 413.87 143.50 Td (last ) Tj ET Q q 0 0 0 rg BT 426.79 143.50 Td (forecasted ) Tj ET Q q 0 0 0 rg BT 461.47 143.50 Td (period ) Tj ET Q q 0 0 0 rg BT 483.72 143.50 Td (into ) Tj ET Q q 0 0 0 rg BT 497.97 143.50 Td (perpetuity ) Tj ET Q q 0 0 0 rg BT 532.22 143.50 Td (and ) Tj ET Q q 0 0 0 rg BT 545.58 143.50 Td (is ) Tj ET Q q 0 0 0 rg BT 552.73 143.50 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 133.90 Td (sum ) Tj ET Q q 0 0 0 rg BT 100.23 133.90 Td (of ) Tj ET Q q 0 0 0 rg BT 108.29 133.90 Td (an ) Tj ET Q q 0 0 0 rg BT 117.24 133.90 Td (estimated ) Tj ET Q q 0 0 0 rg BT 149.29 133.90 Td (real ) Tj ET Q q 0 0 0 rg BT 162.68 133.90 Td (growth ) Tj ET Q q 0 0 0 rg BT 186.74 133.90 Td (rate, ) Tj ET Q q 0 0 0 rg BT 202.12 133.90 Td (which ) Tj ET Q q 0 0 0 rg BT 223.07 133.90 Td (reflects ) Tj ET Q q 0 0 0 rg BT 248.01 133.90 Td (our ) Tj ET Q q 0 0 0 rg BT 260.07 133.90 Td (belief ) Tj ET Q q 0 0 0 rg BT 279.67 133.90 Td (that ) Tj ET Q q 0 0 0 rg BT 293.07 133.90 Td (macro-economic ) Tj ET Q q 0 0 0 rg BT 348.21 133.90 Td (growth ) Tj ET Q q 0 0 0 rg BT 372.27 133.90 Td (in ) Tj ET Q q 0 0 0 rg BT 379.89 133.90 Td (our ) Tj ET Q q 0 0 0 rg BT 391.95 133.90 Td (markets ) Tj ET Q q 0 0 0 rg BT 418.67 133.90 Td (will ) Tj ET Q q 0 0 0 rg BT 432.52 133.90 Td (ultimately ) Tj ET Q q 0 0 0 rg BT 466.35 133.90 Td (conver) Tj ET Q q 0 0 0 rg BT 487.97 133.90 Td (ge ) Tj ET Q q 0 0 0 rg BT 496.92 133.90 Td (to ) Tj ET Q q 0 0 0 rg BT 504.44 133.90 Td (W) Tj ET Q q 0 0 0 rg BT 511.35 133.90 Td (estern ) Tj ET Q q 0 0 0 rg BT 531.84 133.90 Td (European ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 124.30 Td (markets, ) Tj ET Q q 0 0 0 rg BT 114.74 124.30 Td (and ) Tj ET Q q 0 0 0 rg BT 128.20 124.30 Td (long-term ) Tj ET Q q 0 0 0 rg BT 161.66 124.30 Td (expectations ) Tj ET Q q 0 0 0 rg BT 203.55 124.30 Td (for ) Tj ET Q q 0 0 0 rg BT 214.79 124.30 Td (inflation. ) Tj ET Q q 0 0 0 rg BT 245.81 124.30 Td (Our ) Tj ET Q q 0 0 0 rg BT 260.16 124.30 Td (estimates ) Tj ET Q q 0 0 0 rg BT 291.84 124.30 Td (of ) Tj ET Q q 0 0 0 rg BT 300.42 124.30 Td (these ) Tj ET Q q 0 0 0 rg BT 318.76 124.30 Td (rates ) Tj ET Q q 0 0 0 rg BT 335.78 124.30 Td (are ) Tj ET Q q 0 0 0 rg BT 347.45 124.30 Td (based ) Tj ET Q q 0 0 0 rg BT 367.58 124.30 Td (on ) Tj ET Q q 0 0 0 rg BT 377.49 124.30 Td (observable ) Tj ET Q q 0 0 0 rg BT 414.05 124.30 Td (market ) Tj ET Q q 0 0 0 rg BT 438.18 124.30 Td (data ) Tj ET Q q 0 0 0 rg BT 453.41 124.30 Td (and ) Tj ET Q q 0 0 0 rg BT 466.87 124.30 Td (have ) Tj ET Q q 0 0 0 rg BT 483.89 124.30 Td (declined ) Tj ET Q q 0 0 0 rg BT 512.89 124.30 Td (slightly ) Tj ET Q q 0 0 0 rg BT 538.81 124.30 Td (in ) Tj ET Q q 0 0 0 rg BT 546.94 124.30 Td (most ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 114.70 Td (of ) Tj ET Q q 0 0 0 rg BT 94.16 114.70 Td (our ) Tj ET Q q 0 0 0 rg BT 106.83 114.70 Td (operating ) Tj ET Q q 0 0 0 rg BT 139.04 114.70 Td (countries ) Tj ET Q q 0 0 0 rg BT 170.36 114.70 Td (since ) Tj ET Q q 0 0 0 rg BT 188.80 114.70 Td (our ) Tj ET Q q 0 0 0 rg BT 201.46 114.70 Td (2013 ) Tj ET Q q 0 0 0 rg BT 219.46 114.70 Td (annual ) Tj ET Q q 0 0 0 rg BT 242.79 114.70 Td (impairment ) Tj ET Q q 0 0 0 rg BT 281.67 114.70 Td (test.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 96.10 Td (Impairment ) Tj ET Q q 0 0 0 rg BT 88.83 96.10 Td (r) Tj ET Q q 0 0 0 rg BT 91.64 96.10 Td (eviews ) Tj ET Q q 0 0 0 rg BT 114.97 96.10 Td (in ) Tj ET Q q 0 0 0 rg BT 123.19 96.10 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 80.50 Td (The ) Tj ET Q q 0 0 0 rg BT 64.09 80.50 Td (forecasts ) Tj ET Q q 0 0 0 rg BT 94.67 80.50 Td (utilized ) Tj ET Q q 0 0 0 rg BT 120.82 80.50 Td (for ) Tj ET Q q 0 0 0 rg BT 132.30 80.50 Td (our ) Tj ET Q q 0 0 0 rg BT 145.12 80.50 Td (2014 ) Tj ET Q q 0 0 0 rg BT 163.27 80.50 Td (annual ) Tj ET Q q 0 0 0 rg BT 186.75 80.50 Td (impairment ) Tj ET Q q 0 0 0 rg BT 225.78 80.50 Td (test ) Tj ET Q q 0 0 0 rg BT 239.04 80.50 Td (are ) Tj ET Q q 0 0 0 rg BT 250.96 80.50 Td (focused ) Tj ET Q q 0 0 0 rg BT 278.00 80.50 Td (on ) Tj ET Q q 0 0 0 rg BT 288.15 80.50 Td (building ) Tj ET Q q 0 0 0 rg BT 316.97 80.50 Td (our ) Tj ET Q q 0 0 0 rg BT 329.79 80.50 Td (core ) Tj ET Q q 0 0 0 rg BT 345.71 80.50 Td (television ) Tj ET Q q 0 0 0 rg BT 378.96 80.50 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 421.99 80.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 442.81 80.50 Td (in ) Tj ET Q q 0 0 0 rg BT 451.19 80.50 Td (each ) Tj ET Q q 0 0 0 rg BT 467.99 80.50 Td (country) Tj ET Q q 0 0 0 rg BT 491.91 80.50 Td (, ) Tj ET Q q 0 0 0 rg BT 496.06 80.50 Td (similar ) Tj ET Q q 0 0 0 rg BT 520.44 80.50 Td (to ) Tj ET Q q 0 0 0 rg BT 528.81 80.50 Td (those ) Tj ET Q q 0 0 0 rg BT 547.85 80.50 Td (used ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 70.90 Td (in ) Tj ET Q q 0 0 0 rg BT 57.75 70.90 Td (our ) Tj ET Q q 0 0 0 rg BT 70.44 70.90 Td (2013 ) Tj ET Q q 0 0 0 rg BT 88.47 70.90 Td (annual ) Tj ET Q q 0 0 0 rg BT 111.82 70.90 Td (impairment ) Tj ET Q q 0 0 0 rg BT 150.73 70.90 Td (test. ) Tj ET Q q 0 0 0 rg BT 165.86 70.90 Td (Our ) Tj ET Q q 0 0 0 rg BT 180.33 70.90 Td (projections ) Tj ET Q q 0 0 0 rg BT 217.91 70.90 Td (for ) Tj ET Q q 0 0 0 rg BT 229.26 70.90 Td (2015 ) Tj ET Q q 0 0 0 rg BT 247.29 70.90 Td (again ) Tj ET Q q 0 0 0 rg BT 266.64 70.90 Td (show ) Tj ET Q q 0 0 0 rg BT 285.56 70.90 Td (improvement ) Tj ET Q q 0 0 0 rg BT 330.24 70.90 Td (over ) Tj ET Q q 0 0 0 rg BT 346.48 70.90 Td (those ) Tj ET Q q 0 0 0 rg BT 365.40 70.90 Td (used ) Tj ET Q q 0 0 0 rg BT 382.09 70.90 Td (in ) Tj ET Q q 0 0 0 rg BT 390.34 70.90 Td (our ) Tj ET Q q 0 0 0 rg BT 403.03 70.90 Td (2013 ) Tj ET Q q 0 0 0 rg BT 421.06 70.90 Td (annual ) Tj ET Q q 0 0 0 rg BT 444.41 70.90 Td (impairment ) Tj ET Q q 0 0 0 rg BT 483.32 70.90 Td (test. ) Tj ET Q q 0 0 0 rg BT 498.01 70.90 Td (As ) Tj ET Q q 0 0 0 rg BT 508.92 70.90 Td (noted ) Tj ET Q q 0 0 0 rg BT 528.72 70.90 Td (above, ) Tj ET Q q 0 0 0 rg BT 551.85 70.90 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 61.30 Td (medium- ) Tj ET Q q 0 0 0 rg BT 80.70 61.30 Td (and ) Tj ET Q q 0 0 0 rg BT 94.58 61.30 Td (long-term ) Tj ET Q q 0 0 0 rg BT 128.44 61.30 Td (estimates ) Tj ET Q q 0 0 0 rg BT 160.54 61.30 Td (of ) Tj ET Q q 0 0 0 rg BT 169.52 61.30 Td (the ) Tj ET Q q 0 0 0 rg BT 181.62 61.30 Td (advertising ) Tj ET Q q 0 0 0 rg BT 219.48 61.30 Td (markets ) Tj ET Q q 0 0 0 rg BT 247.13 61.30 Td (have ) Tj ET Q q 0 0 0 rg BT 264.55 61.30 Td (decreased ) Tj ET Q q 0 0 0 rg BT 298.40 61.30 Td (further ) Tj ET Q q 0 0 0 rg BT 322.49 61.30 Td (from ) Tj ET Q q 0 0 0 rg BT 340.36 61.30 Td (those ) Tj ET Q q 0 0 0 rg BT 359.57 61.30 Td (of ) Tj ET Q q 0 0 0 rg BT 368.56 61.30 Td (our ) Tj ET Q q 0 0 0 rg BT 381.54 61.30 Td (2013 ) Tj ET Q q 0 0 0 rg BT 399.86 61.30 Td (annual ) Tj ET Q q 0 0 0 rg BT 423.51 61.30 Td (impairment ) Tj ET Q q 0 0 0 rg BT 462.71 61.30 Td (test, ) Tj ET Q q 0 0 0 rg BT 478.14 61.30 Td (but ) Tj ET Q q 0 0 0 rg BT 490.68 61.30 Td (our ) Tj ET Q q 0 0 0 rg BT 503.67 61.30 Td (expectation ) Tj ET Q q 0 0 0 rg BT 542.86 61.30 Td (of ) Tj ET Q q 0 0 0 rg BT 551.85 61.30 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 51.70 Td (share ) Tj ET Q q 0 0 0 rg BT 68.38 51.70 Td (of ) Tj ET Q q 0 0 0 rg BT 77.04 51.70 Td (the ) Tj ET Q q 0 0 0 rg BT 88.82 51.70 Td (market ) Tj ET Q q 0 0 0 rg BT 113.03 51.70 Td (has ) Tj ET Q q 0 0 0 rg BT 125.69 51.70 Td (increased ) Tj ET Q q 0 0 0 rg BT 157.89 51.70 Td (by ) Tj ET Q q 0 0 0 rg BT 167.89 51.70 Td (low ) Tj ET Q q 0 0 0 rg BT 181.89 51.70 Td (single-digits ) Tj ET Q q 0 0 0 rg BT 223.45 51.70 Td (in ) Tj ET Q q 0 0 0 rg BT 231.67 51.70 Td (each ) Tj ET Q q 0 0 0 rg BT 248.32 51.70 Td (country) Tj ET Q q 0 0 0 rg BT 272.24 51.70 Td (. ) Tj ET Q endstream endobj 119 0 obj <>] /Rotate 0 /Contents 120 0 R>> endobj 120 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (57) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 723.50 Td (Upon ) Tj ET Q q 0 0 0 rg BT 69.32 723.50 Td (conclusion ) Tj ET Q q 0 0 0 rg BT 106.02 723.50 Td (of ) Tj ET Q q 0 0 0 rg BT 114.73 723.50 Td (this ) Tj ET Q q 0 0 0 rg BT 128.33 723.50 Td (review) Tj ET Q q 0 0 0 rg BT 149.57 723.50 Td (, ) Tj ET Q q 0 0 0 rg BT 153.62 723.50 Td (we ) Tj ET Q q 0 0 0 rg BT 164.99 723.50 Td (determined ) Tj ET Q q 0 0 0 rg BT 203.01 723.50 Td (that ) Tj ET Q q 0 0 0 rg BT 217.05 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 228.87 723.50 Td (fair ) Tj ET Q q 0 0 0 rg BT 242.01 723.50 Td (values ) Tj ET Q q 0 0 0 rg BT 264.49 723.50 Td (of ) Tj ET Q q 0 0 0 rg BT 273.20 723.50 Td (our ) Tj ET Q q 0 0 0 rg BT 285.90 723.50 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 316.39 723.50 Td (and ) Tj ET Q q 0 0 0 rg BT 329.98 723.50 Td (intangible ) Tj ET Q q 0 0 0 rg BT 364.02 723.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 384.72 723.50 Td (were ) Tj ET Q q 0 0 0 rg BT 402.31 723.50 Td (substantially ) Tj ET Q q 0 0 0 rg BT 444.79 723.50 Td (in ) Tj ET Q q 0 0 0 rg BT 453.05 723.50 Td (excess ) Tj ET Q q 0 0 0 rg BT 475.98 723.50 Td (of ) Tj ET Q q 0 0 0 rg BT 484.68 723.50 Td (their ) Tj ET Q q 0 0 0 rg BT 501.38 723.50 Td (respective ) Tj ET Q q 0 0 0 rg BT 535.85 723.50 Td (carrying ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 713.90 Td (values. ) Tj ET Q q 0 0 0 rg BT 73.62 713.90 Td (W) Tj ET Q q 0 0 0 rg BT 80.53 713.90 Td (e ) Tj ET Q q 0 0 0 rg BT 85.89 713.90 Td (have ) Tj ET Q q 0 0 0 rg BT 102.80 713.90 Td (concluded ) Tj ET Q q 0 0 0 rg BT 137.49 713.90 Td (that ) Tj ET Q q 0 0 0 rg BT 151.30 713.90 Td (the ) Tj ET Q q 0 0 0 rg BT 162.88 713.90 Td (total ) Tj ET Q q 0 0 0 rg BT 178.91 713.90 Td (estimated ) Tj ET Q q 0 0 0 rg BT 211.38 713.90 Td (fair ) Tj ET Q q 0 0 0 rg BT 224.29 713.90 Td (values ) Tj ET Q q 0 0 0 rg BT 246.54 713.90 Td (used ) Tj ET Q q 0 0 0 rg BT 263.02 713.90 Td (for ) Tj ET Q q 0 0 0 rg BT 274.16 713.90 Td (purposes ) Tj ET Q q 0 0 0 rg BT 304.41 713.90 Td (of ) Tj ET Q q 0 0 0 rg BT 312.89 713.90 Td (the ) Tj ET Q q 0 0 0 rg BT 324.47 713.90 Td (test ) Tj ET Q q 0 0 0 rg BT 337.39 713.90 Td (are ) Tj ET Q q 0 0 0 rg BT 348.97 713.90 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 384.98 713.90 Td (by ) Tj ET Q q 0 0 0 rg BT 394.80 713.90 Td (comparing ) Tj ET Q q 0 0 0 rg BT 430.82 713.90 Td (the ) Tj ET Q q 0 0 0 rg BT 442.40 713.90 Td (market ) Tj ET Q q 0 0 0 rg BT 466.43 713.90 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 511.33 713.90 Td (of ) Tj ET Q q 0 0 0 rg BT 519.80 713.90 Td (the ) Tj ET Q q 0 0 0 rg BT 531.39 713.90 Td (Company ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 704.30 Td (to ) Tj ET Q q 0 0 0 rg BT 57.72 704.30 Td (the ) Tj ET Q q 0 0 0 rg BT 69.50 704.30 Td (results ) Tj ET Q q 0 0 0 rg BT 92.38 704.30 Td (of ) Tj ET Q q 0 0 0 rg BT 101.05 704.30 Td (the ) Tj ET Q q 0 0 0 rg BT 112.82 704.30 Td (discounted ) Tj ET Q q 0 0 0 rg BT 149.48 704.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 165.70 704.30 Td (flows ) Tj ET Q q 0 0 0 rg BT 185.47 704.30 Td (analysis ) Tj ET Q q 0 0 0 rg BT 213.25 704.30 Td (of ) Tj ET Q q 0 0 0 rg BT 221.91 704.30 Td (our ) Tj ET Q q 0 0 0 rg BT 234.57 704.30 Td (reporting ) Tj ET Q q 0 0 0 rg BT 265.90 704.30 Td (units, ) Tj ET Q q 0 0 0 rg BT 285.46 704.30 Td (as ) Tj ET Q q 0 0 0 rg BT 294.12 704.30 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 322.78 704.30 Td (for ) Tj ET Q q 0 0 0 rg BT 334.11 704.30 Td (unallocated ) Tj ET Q q 0 0 0 rg BT 372.98 704.30 Td (corporate ) Tj ET Q q 0 0 0 rg BT 405.18 704.30 Td (assets ) Tj ET Q q 0 0 0 rg BT 425.85 704.30 Td (and ) Tj ET Q q 0 0 0 rg BT 439.40 704.30 Td (liabilities.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 685.70 Td (Impairment ) Tj ET Q q 0 0 0 rg BT 88.83 685.70 Td (r) Tj ET Q q 0 0 0 rg BT 91.64 685.70 Td (eviews ) Tj ET Q q 0 0 0 rg BT 114.97 685.70 Td (and ) Tj ET Q q 0 0 0 rg BT 128.97 685.70 Td (char) Tj ET Q q 0 0 0 rg BT 143.34 685.70 Td (ges ) Tj ET Q q 0 0 0 rg BT 156.00 685.70 Td (r) Tj ET Q q 0 0 0 rg BT 158.82 685.70 Td (ecognized ) Tj ET Q q 0 0 0 rg BT 192.80 685.70 Td (in ) Tj ET Q q 0 0 0 rg BT 201.03 685.70 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 670.10 Td (The ) Tj ET Q q 0 0 0 rg BT 63.59 670.10 Td (forecasts ) Tj ET Q q 0 0 0 rg BT 93.66 670.10 Td (utilized ) Tj ET Q q 0 0 0 rg BT 119.30 670.10 Td (for ) Tj ET Q q 0 0 0 rg BT 130.28 670.10 Td (our ) Tj ET Q q 0 0 0 rg BT 142.59 670.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 160.24 670.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 183.21 670.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 221.74 670.10 Td (test ) Tj ET Q q 0 0 0 rg BT 234.50 670.10 Td (focused ) Tj ET Q q 0 0 0 rg BT 261.03 670.10 Td (on ) Tj ET Q q 0 0 0 rg BT 270.68 670.10 Td (building ) Tj ET Q q 0 0 0 rg BT 298.99 670.10 Td (our ) Tj ET Q q 0 0 0 rg BT 311.30 670.10 Td (core ) Tj ET Q q 0 0 0 rg BT 326.72 670.10 Td (television ) Tj ET Q q 0 0 0 rg BT 359.47 670.10 Td (broadcasting ) Tj ET Q q 0 0 0 rg BT 402.00 670.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 422.31 670.10 Td (in ) Tj ET Q q 0 0 0 rg BT 430.18 670.10 Td (each ) Tj ET Q q 0 0 0 rg BT 446.48 670.10 Td (country) Tj ET Q q 0 0 0 rg BT 470.40 670.10 Td (. ) Tj ET Q q 0 0 0 rg BT 474.05 670.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 488.14 670.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 505.79 670.10 Td (forecast ) Tj ET Q q 0 0 0 rg BT 532.75 670.10 Td (projected ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 660.50 Td (significant ) Tj ET Q q 0 0 0 rg BT 86.04 660.50 Td (improvement ) Tj ET Q q 0 0 0 rg BT 131.46 660.50 Td (over ) Tj ET Q q 0 0 0 rg BT 148.44 660.50 Td (the ) Tj ET Q q 0 0 0 rg BT 160.98 660.50 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 204.19 660.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 234.94 660.50 Td (results ) Tj ET Q q 0 0 0 rg BT 258.59 660.50 Td (of ) Tj ET Q q 0 0 0 rg BT 268.02 660.50 Td (2013, ) Tj ET Q q 0 0 0 rg BT 288.79 660.50 Td (with ) Tj ET Q q 0 0 0 rg BT 305.78 660.50 Td (continued ) Tj ET Q q 0 0 0 rg BT 340.10 660.50 Td (improvement ) Tj ET Q q 0 0 0 rg BT 385.52 660.50 Td (in ) Tj ET Q q 0 0 0 rg BT 394.51 660.50 Td (2015. ) Tj ET Q q 0 0 0 rg BT 415.28 660.50 Td (Our ) Tj ET Q q 0 0 0 rg BT 430.49 660.50 Td (medium- ) Tj ET Q q 0 0 0 rg BT 462.14 660.50 Td (and ) Tj ET Q q 0 0 0 rg BT 476.46 660.50 Td (long-term ) Tj ET Q q 0 0 0 rg BT 510.77 660.50 Td (estimates ) Tj ET Q q 0 0 0 rg BT 543.31 660.50 Td (of ) Tj ET Q q 0 0 0 rg BT 552.74 660.50 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 650.90 Td (advertising ) Tj ET Q q 0 0 0 rg BT 86.94 650.90 Td (markets ) Tj ET Q q 0 0 0 rg BT 114.15 650.90 Td (declined ) Tj ET Q q 0 0 0 rg BT 143.14 650.90 Td (from ) Tj ET Q q 0 0 0 rg BT 160.58 650.90 Td (those ) Tj ET Q q 0 0 0 rg BT 179.36 650.90 Td (in ) Tj ET Q q 0 0 0 rg BT 187.47 650.90 Td (our ) Tj ET Q q 0 0 0 rg BT 200.03 650.90 Td (2012 ) Tj ET Q q 0 0 0 rg BT 217.92 650.90 Td (impairment ) Tj ET Q q 0 0 0 rg BT 256.69 650.90 Td (test, ) Tj ET Q q 0 0 0 rg BT 271.69 650.90 Td (and ) Tj ET Q q 0 0 0 rg BT 285.13 650.90 Td (reflected ) Tj ET Q q 0 0 0 rg BT 315.00 650.90 Td (estimated ) Tj ET Q q 0 0 0 rg BT 347.54 650.90 Td (GDP) Tj ET Q q 0 0 0 rg BT 363.25 650.90 Td ( ) Tj ET Q q 0 0 0 rg BT 365.14 650.90 Td (growth ) Tj ET Q q 0 0 0 rg BT 389.70 650.90 Td (rates ) Tj ET Q q 0 0 0 rg BT 406.69 650.90 Td (in ) Tj ET Q q 0 0 0 rg BT 414.80 650.90 Td (the ) Tj ET Q q 0 0 0 rg BT 426.46 650.90 Td (corresponding ) Tj ET Q q 0 0 0 rg BT 474.12 650.90 Td (countries. ) Tj ET Q q 0 0 0 rg BT 507.20 650.90 Td (The ) Tj ET Q q 0 0 0 rg BT 521.53 650.90 Td (risk-free ) Tj ET Q q 0 0 0 rg BT 550.51 650.90 Td (rate ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 641.30 Td (applied ) Tj ET Q q 0 0 0 rg BT 75.60 641.30 Td (to ) Tj ET Q q 0 0 0 rg BT 84.38 641.30 Td (the ) Tj ET Q q 0 0 0 rg BT 96.70 641.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 113.47 641.30 Td (flows ) Tj ET Q q 0 0 0 rg BT 133.80 641.30 Td (in ) Tj ET Q q 0 0 0 rg BT 142.57 641.30 Td (our ) Tj ET Q q 0 0 0 rg BT 155.79 641.30 Td (forecast ) Tj ET Q q 0 0 0 rg BT 183.66 641.30 Td (increased ) Tj ET Q q 0 0 0 rg BT 216.42 641.30 Td (since ) Tj ET Q q 0 0 0 rg BT 235.41 641.30 Td (our ) Tj ET Q q 0 0 0 rg BT 248.62 641.30 Td (2012 ) Tj ET Q q 0 0 0 rg BT 267.18 641.30 Td (impairment ) Tj ET Q q 0 0 0 rg BT 306.61 641.30 Td (test, ) Tj ET Q q 0 0 0 rg BT 322.27 641.30 Td (reflecting ) Tj ET Q q 0 0 0 rg BT 355.47 641.30 Td (higher ) Tj ET Q q 0 0 0 rg BT 378.46 641.30 Td (returns ) Tj ET Q q 0 0 0 rg BT 403.23 641.30 Td (investors ) Tj ET Q q 0 0 0 rg BT 434.67 641.30 Td (require ) Tj ET Q q 0 0 0 rg BT 459.87 641.30 Td (due ) Tj ET Q q 0 0 0 rg BT 473.98 641.30 Td (to ) Tj ET Q q 0 0 0 rg BT 482.75 641.30 Td (improvements ) Tj ET Q q 0 0 0 rg BT 531.07 641.30 Td (in ) Tj ET Q q 0 0 0 rg BT 539.85 641.30 Td (macro-) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 631.70 Td (economic ) Tj ET Q q 0 0 0 rg BT 82.69 631.70 Td (conditions. ) Tj ET Q q 0 0 0 rg BT 119.96 631.70 Td (The ) Tj ET Q q 0 0 0 rg BT 134.49 631.70 Td (CRP) Tj ET Q q 0 0 0 rg BT 149.32 631.70 Td ( ) Tj ET Q q 0 0 0 rg BT 151.41 631.70 Td (increased ) Tj ET Q q 0 0 0 rg BT 183.71 631.70 Td (slightly ) Tj ET Q q 0 0 0 rg BT 209.80 631.70 Td (in ) Tj ET Q q 0 0 0 rg BT 218.12 631.70 Td (Croatia ) Tj ET Q q 0 0 0 rg BT 243.76 631.70 Td (from ) Tj ET Q q 0 0 0 rg BT 261.40 631.70 Td (2012 ) Tj ET Q q 0 0 0 rg BT 279.50 631.70 Td (to ) Tj ET Q q 0 0 0 rg BT 287.81 631.70 Td (2013, ) Tj ET Q q 0 0 0 rg BT 307.90 631.70 Td (and ) Tj ET Q q 0 0 0 rg BT 321.55 631.70 Td (more ) Tj ET Q q 0 0 0 rg BT 340.08 631.70 Td (significantly ) Tj ET Q q 0 0 0 rg BT 382.16 631.70 Td (in ) Tj ET Q q 0 0 0 rg BT 390.48 631.70 Td (Slovenia, ) Tj ET Q q 0 0 0 rg BT 422.57 631.70 Td (where ) Tj ET Q q 0 0 0 rg BT 444.20 631.70 Td (the ) Tj ET Q q 0 0 0 rg BT 456.07 631.70 Td (distressed ) Tj ET Q q 0 0 0 rg BT 489.71 631.70 Td (banking ) Tj ET Q q 0 0 0 rg BT 517.58 631.70 Td (sector ) Tj ET Q q 0 0 0 rg BT 538.77 631.70 Td (led ) Tj ET Q q 0 0 0 rg BT 550.64 631.70 Td (to ) Tj ET Q q 0 0 0 rg BT 558.95 631.70 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 622.10 Td (rating ) Tj ET Q q 0 0 0 rg BT 70.16 622.10 Td (agency ) Tj ET Q q 0 0 0 rg BT 94.81 622.10 Td (downgrade ) Tj ET Q q 0 0 0 rg BT 132.36 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 141.02 622.10 Td (its ) Tj ET Q q 0 0 0 rg BT 150.58 622.10 Td (sovereign ) Tj ET Q q 0 0 0 rg BT 183.68 622.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 199.45 622.10 Td (since ) Tj ET Q q 0 0 0 rg BT 217.89 622.10 Td (our ) Tj ET Q q 0 0 0 rg BT 230.55 622.10 Td (2012 ) Tj ET Q q 0 0 0 rg BT 248.55 622.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 287.43 622.10 Td (test.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 606.50 Td (Upon ) Tj ET Q q 0 0 0 rg BT 69.22 606.50 Td (conclusion ) Tj ET Q q 0 0 0 rg BT 105.82 606.50 Td (of ) Tj ET Q q 0 0 0 rg BT 114.43 606.50 Td (this ) Tj ET Q q 0 0 0 rg BT 127.93 606.50 Td (review) Tj ET Q q 0 0 0 rg BT 149.17 606.50 Td (, ) Tj ET Q q 0 0 0 rg BT 153.11 606.50 Td (we ) Tj ET Q q 0 0 0 rg BT 164.38 606.50 Td (recorded ) Tj ET Q q 0 0 0 rg BT 194.30 606.50 Td (a ) Tj ET Q q 0 0 0 rg BT 199.80 606.50 Td (char) Tj ET Q q 0 0 0 rg BT 213.42 606.50 Td (ge ) Tj ET Q q 0 0 0 rg BT 222.91 606.50 Td (to ) Tj ET Q q 0 0 0 rg BT 231.07 606.50 Td (impair ) Tj ET Q q 0 0 0 rg BT 253.90 606.50 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 286.49 606.50 Td (licenses, ) Tj ET Q q 0 0 0 rg BT 315.76 606.50 Td (customer ) Tj ET Q q 0 0 0 rg BT 347.02 606.50 Td (relationships, ) Tj ET Q q 0 0 0 rg BT 391.85 606.50 Td (trademarks ) Tj ET Q q 0 0 0 rg BT 429.33 606.50 Td (and ) Tj ET Q q 0 0 0 rg BT 442.82 606.50 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 473.21 606.50 Td (in ) Tj ET Q q 0 0 0 rg BT 481.37 606.50 Td (certain ) Tj ET Q q 0 0 0 rg BT 505.07 606.50 Td (reporting ) Tj ET Q q 0 0 0 rg BT 536.34 606.50 Td (units, ) Tj ET Q q 0 0 0 rg BT 555.84 606.50 Td (as ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 596.90 Td (presented ) Tj ET Q q 0 0 0 rg BT 81.67 596.90 Td (below) Tj ET Q q 0 0 0 rg BT 100.70 596.90 Td (. ) Tj ET Q q 0 0 0 rg BT 104.10 596.90 Td (The ) Tj ET Q q 0 0 0 rg BT 118.05 596.90 Td (fair ) Tj ET Q q 0 0 0 rg BT 130.67 596.90 Td (value ) Tj ET Q q 0 0 0 rg BT 149.51 596.90 Td (of ) Tj ET Q q 0 0 0 rg BT 157.68 596.90 Td (each ) Tj ET Q q 0 0 0 rg BT 173.85 596.90 Td (reporting ) Tj ET Q q 0 0 0 rg BT 204.69 596.90 Td (unit ) Tj ET Q q 0 0 0 rg BT 218.65 596.90 Td (where ) Tj ET Q q 0 0 0 rg BT 239.70 596.90 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 269.66 596.90 Td (was ) Tj ET Q q 0 0 0 rg BT 283.62 596.90 Td (not ) Tj ET Q q 0 0 0 rg BT 295.35 596.90 Td (impaired ) Tj ET Q q 0 0 0 rg BT 325.30 596.90 Td (as ) Tj ET Q q 0 0 0 rg BT 333.48 596.90 Td (of ) Tj ET Q q 0 0 0 rg BT 341.66 596.90 Td (December ) Tj ET Q q 0 0 0 rg BT 376.04 596.90 Td (31, ) Tj ET Q q 0 0 0 rg BT 387.55 596.90 Td (2013 ) Tj ET Q q 0 0 0 rg BT 405.06 596.90 Td (was ) Tj ET Q q 0 0 0 rg BT 419.02 596.90 Td (substantially ) Tj ET Q q 0 0 0 rg BT 460.97 596.90 Td (in ) Tj ET Q q 0 0 0 rg BT 468.71 596.90 Td (excess ) Tj ET Q q 0 0 0 rg BT 491.10 596.90 Td (of ) Tj ET Q q 0 0 0 rg BT 499.28 596.90 Td (its ) Tj ET Q q 0 0 0 rg BT 508.35 596.90 Td (carrying ) Tj ET Q q 0 0 0 rg BT 536.52 596.90 Td (amount. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 587.30 Td (In ) Tj ET Q q 0 0 0 rg BT 58.87 587.30 Td (connection ) Tj ET Q q 0 0 0 rg BT 96.67 587.30 Td (with ) Tj ET Q q 0 0 0 rg BT 113.60 587.30 Td (our ) Tj ET Q q 0 0 0 rg BT 126.97 587.30 Td (2013 ) Tj ET Q q 0 0 0 rg BT 145.67 587.30 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 176.82 587.30 Td (impairment ) Tj ET Q q 0 0 0 rg BT 216.41 587.30 Td (analysis, ) Tj ET Q q 0 0 0 rg BT 246.89 587.30 Td (we ) Tj ET Q q 0 0 0 rg BT 258.92 587.30 Td (concluded ) Tj ET Q q 0 0 0 rg BT 294.50 587.30 Td (that ) Tj ET Q q 0 0 0 rg BT 309.20 587.30 Td (the ) Tj ET Q q 0 0 0 rg BT 321.68 587.30 Td (total ) Tj ET Q q 0 0 0 rg BT 338.60 587.30 Td (estimated ) Tj ET Q q 0 0 0 rg BT 371.96 587.30 Td (fair ) Tj ET Q q 0 0 0 rg BT 385.77 587.30 Td (values ) Tj ET Q q 0 0 0 rg BT 408.91 587.30 Td (used ) Tj ET Q q 0 0 0 rg BT 426.28 587.30 Td (for ) Tj ET Q q 0 0 0 rg BT 438.32 587.30 Td (purposes ) Tj ET Q q 0 0 0 rg BT 469.46 587.30 Td (of ) Tj ET Q q 0 0 0 rg BT 478.83 587.30 Td (the ) Tj ET Q q 0 0 0 rg BT 491.31 587.30 Td (test ) Tj ET Q q 0 0 0 rg BT 505.13 587.30 Td (are ) Tj ET Q q 0 0 0 rg BT 517.60 587.30 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 554.50 587.30 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 577.70 Td (comparing ) Tj ET Q q 0 0 0 rg BT 85.23 577.70 Td (the ) Tj ET Q q 0 0 0 rg BT 96.53 577.70 Td (market ) Tj ET Q q 0 0 0 rg BT 120.26 577.70 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 164.87 577.70 Td (of ) Tj ET Q q 0 0 0 rg BT 173.05 577.70 Td (the ) Tj ET Q q 0 0 0 rg BT 184.35 577.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 216.98 577.70 Td (to ) Tj ET Q q 0 0 0 rg BT 224.72 577.70 Td (the ) Tj ET Q q 0 0 0 rg BT 236.01 577.70 Td (results ) Tj ET Q q 0 0 0 rg BT 258.42 577.70 Td (of ) Tj ET Q q 0 0 0 rg BT 266.60 577.70 Td (the ) Tj ET Q q 0 0 0 rg BT 277.90 577.70 Td (discounted ) Tj ET Q q 0 0 0 rg BT 314.08 577.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 329.81 577.70 Td (flows ) Tj ET Q q 0 0 0 rg BT 349.11 577.70 Td (analysis ) Tj ET Q q 0 0 0 rg BT 376.41 577.70 Td (of ) Tj ET Q q 0 0 0 rg BT 384.59 577.70 Td (our ) Tj ET Q q 0 0 0 rg BT 396.78 577.70 Td (reporting ) Tj ET Q q 0 0 0 rg BT 427.62 577.70 Td (units, ) Tj ET Q q 0 0 0 rg BT 446.70 577.70 Td (as ) Tj ET Q q 0 0 0 rg BT 454.88 577.70 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 483.06 577.70 Td (for ) Tj ET Q q 0 0 0 rg BT 493.91 577.70 Td (unallocated ) Tj ET Q q 0 0 0 rg BT 532.30 577.70 Td (corporate ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 568.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 70.16 568.10 Td (and ) Tj ET Q q 0 0 0 rg BT 83.71 568.10 Td (liabilities.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 552.50 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 552.50 Td (e ) Tj ET Q q 0 0 0 rg BT 61.49 552.50 Td (recognized ) Tj ET Q q 0 0 0 rg BT 98.12 552.50 Td (impairment ) Tj ET Q q 0 0 0 rg BT 136.53 552.50 Td (char) Tj ET Q q 0 0 0 rg BT 150.15 552.50 Td (ges ) Tj ET Q q 0 0 0 rg BT 162.35 552.50 Td (in ) Tj ET Q q 0 0 0 rg BT 170.10 552.50 Td (the ) Tj ET Q q 0 0 0 rg BT 181.41 552.50 Td (following ) Tj ET Q q 0 0 0 rg BT 214.05 552.50 Td (reporting ) Tj ET Q q 0 0 0 rg BT 244.91 552.50 Td (units ) Tj ET Q q 0 0 0 rg BT 262.00 552.50 Td (in ) Tj ET Q q 0 0 0 rg BT 269.76 552.50 Td (respect ) Tj ET Q q 0 0 0 rg BT 293.94 552.50 Td (of ) Tj ET Q q 0 0 0 rg BT 302.14 552.50 Td (goodwill, ) Tj ET Q q 0 0 0 rg BT 334.12 552.50 Td (tangible ) Tj ET Q q 0 0 0 rg BT 361.42 552.50 Td (and ) Tj ET Q q 0 0 0 rg BT 374.51 552.50 Td (intangible ) Tj ET Q q 0 0 0 rg BT 408.03 552.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 428.23 552.50 Td (during ) Tj ET Q q 0 0 0 rg BT 450.65 552.50 Td (the ) Tj ET Q q 0 0 0 rg BT 461.96 552.50 Td (year ) Tj ET Q q 0 0 0 rg BT 477.25 552.50 Td (ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.89 552.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 544.29 552.50 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 560.29 552.50 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 515.00 182.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.00 515.00 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.00 515.00 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.00 515.00 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 515.00 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.00 515.00 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 515.00 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 515.00 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 515.00 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 515.00 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 489.00 182.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.00 489.00 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.00 489.00 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.00 489.00 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 489.00 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.00 489.00 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 489.00 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 489.00 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 489.00 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 489.00 63.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 231 515 m 294 515 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 298 515 m 361 515 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 365 515 m 428 515 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 432 515 m 495 515 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 499 515 m 562 515 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 231 515 m 294 515 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 298 515 m 361 515 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 365 515 m 428 515 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 432 515 m 495 515 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231 489 m 294 489 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231 477 m 294 477 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231 475 m 294 475 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298 489 m 361 489 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298 477 m 361 477 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298 475 m 361 475 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365 489 m 428 489 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365 477 m 428 477 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365 475 m 428 475 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 489 m 495 489 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 477 m 495 477 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 475 m 495 475 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 489 m 562 489 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 477 m 562 477 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 475 m 562 475 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 248.40 519.23 Td (Trademarks) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 323.85 527.23 Td (Customer) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 313.60 519.23 Td (relationships) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 389.95 527.23 Td (Broadcast) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 398.70 519.23 Td (licenses) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.35 519.23 Td (Goodwill) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 541.00 519.23 Td (Total) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 506.25 Td (Bulgaria) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 233.50 506.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 268.80 506.25 Td (12,259) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 300.50 506.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 335.80 506.25 Td (23,608) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.50 506.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.80 506.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.50 506.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.80 506.25 Td (16,813) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.50 506.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 506.25 Td (52,680) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 493.25 Td (Slovenia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 282.80 493.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.80 493.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.80 493.25 Td (7,596) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.80 493.25 Td (19,400) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 493.25 Td (26,996) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 480.23 Td (Total) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 233.50 480.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 268.80 480.23 Td (12,259) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 300.50 480.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 335.80 480.23 Td (23,608) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.50 480.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 406.80 480.23 Td (7,596) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 434.50 480.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.80 480.23 Td (36,213) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 501.50 480.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.80 480.23 Td (79,676) Tj ET Q BT /F1 8.00 Tf ET BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 457.90 Td (Goodwill ) Tj ET Q q 0 0 0 rg BT 81.28 457.90 Td (and ) Tj ET Q q 0 0 0 rg BT 95.28 457.90 Td (Intangible ) Tj ET Q q 0 0 0 rg BT 130.02 457.90 Td (Assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 442.30 Td (In ) Tj ET Q q 0 0 0 rg BT 58.25 442.30 Td (Bulgaria, ) Tj ET Q q 0 0 0 rg BT 89.89 442.30 Td (we ) Tj ET Q q 0 0 0 rg BT 101.30 442.30 Td (concluded ) Tj ET Q q 0 0 0 rg BT 136.27 442.30 Td (that ) Tj ET Q q 0 0 0 rg BT 150.35 442.30 Td (the ) Tj ET Q q 0 0 0 rg BT 162.21 442.30 Td (trademark ) Tj ET Q q 0 0 0 rg BT 196.72 442.30 Td (recorded ) Tj ET Q q 0 0 0 rg BT 226.79 442.30 Td (on ) Tj ET Q q 0 0 0 rg BT 236.88 442.30 Td (the ) Tj ET Q q 0 0 0 rg BT 248.74 442.30 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 285.94 442.30 Td (of ) Tj ET Q q 0 0 0 rg BT 294.69 442.30 Td (the ) Tj ET Q q 0 0 0 rg BT 306.55 442.30 Td (bTV) Tj ET Q q 0 0 0 rg BT 321.07 442.30 Td ( ) Tj ET Q q 0 0 0 rg BT 323.16 442.30 Td (group ) Tj ET Q q 0 0 0 rg BT 343.91 442.30 Td (in ) Tj ET Q q 0 0 0 rg BT 352.22 442.30 Td (2010 ) Tj ET Q q 0 0 0 rg BT 370.31 442.30 Td (was ) Tj ET Q q 0 0 0 rg BT 384.84 442.30 Td (further ) Tj ET Q q 0 0 0 rg BT 408.69 442.30 Td (impaired ) Tj ET Q q 0 0 0 rg BT 439.21 442.30 Td (during ) Tj ET Q q 0 0 0 rg BT 462.19 442.30 Td (2013 ) Tj ET Q q 0 0 0 rg BT 480.27 442.30 Td (due ) Tj ET Q q 0 0 0 rg BT 493.91 442.30 Td (to ) Tj ET Q q 0 0 0 rg BT 502.22 442.30 Td (declining ) Tj ET Q q 0 0 0 rg BT 534.08 442.30 Td (revenues ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 432.70 Td (and ) Tj ET Q q 0 0 0 rg BT 63.09 432.70 Td (recorded ) Tj ET Q q 0 0 0 rg BT 93.10 432.70 Td (a ) Tj ET Q q 0 0 0 rg BT 98.69 432.70 Td (char) Tj ET Q q 0 0 0 rg BT 112.31 432.70 Td (ge ) Tj ET Q q 0 0 0 rg BT 121.90 432.70 Td (of ) Tj ET Q q 0 0 0 rg BT 130.60 432.70 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.86 432.70 Td (12.3 ) Tj ET Q q 0 0 0 rg BT 162.90 432.70 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 186.01 432.70 Td ( ) Tj ET Q q 0 0 0 rg BT 188.05 432.70 Td (to ) Tj ET Q q 0 0 0 rg BT 196.31 432.70 Td (write ) Tj ET Q q 0 0 0 rg BT 214.78 432.70 Td (it ) Tj ET Q q 0 0 0 rg BT 221.26 432.70 Td (down ) Tj ET Q q 0 0 0 rg BT 241.07 432.70 Td (to ) Tj ET Q q 0 0 0 rg BT 249.33 432.70 Td (its ) Tj ET Q q 0 0 0 rg BT 258.93 432.70 Td (estimated ) Tj ET Q q 0 0 0 rg BT 291.62 432.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 304.76 432.70 Td (value. ) Tj ET Q q 0 0 0 rg BT 325.97 432.70 Td (W) Tj ET Q q 0 0 0 rg BT 332.88 432.70 Td (e ) Tj ET Q q 0 0 0 rg BT 338.47 432.70 Td (also ) Tj ET Q q 0 0 0 rg BT 353.39 432.70 Td (determined ) Tj ET Q q 0 0 0 rg BT 391.41 432.70 Td (that ) Tj ET Q q 0 0 0 rg BT 405.44 432.70 Td (the ) Tj ET Q q 0 0 0 rg BT 417.25 432.70 Td (customer ) Tj ET Q q 0 0 0 rg BT 448.61 432.70 Td (relationship ) Tj ET Q q 0 0 0 rg BT 488.42 432.70 Td (intangible ) Tj ET Q q 0 0 0 rg BT 522.45 432.70 Td (asset ) Tj ET Q q 0 0 0 rg BT 540.03 432.70 Td (was ) Tj ET Q q 0 0 0 rg BT 554.51 432.70 Td (no ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 423.10 Td (longer ) Tj ET Q q 0 0 0 rg BT 72.02 423.10 Td (fully ) Tj ET Q q 0 0 0 rg BT 89.21 423.10 Td (recoverable ) Tj ET Q q 0 0 0 rg BT 128.59 423.10 Td (and ) Tj ET Q q 0 0 0 rg BT 142.22 423.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 172.28 423.10 Td (a ) Tj ET Q q 0 0 0 rg BT 177.91 423.10 Td (char) Tj ET Q q 0 0 0 rg BT 191.53 423.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 201.16 423.10 Td (of ) Tj ET Q q 0 0 0 rg BT 209.90 423.10 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.21 423.10 Td ($23.6 ) Tj ET Q q 0 0 0 rg BT 246.29 423.10 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 269.40 423.10 Td ( ) Tj ET Q q 0 0 0 rg BT 271.48 423.10 Td (to ) Tj ET Q q 0 0 0 rg BT 279.78 423.10 Td (write ) Tj ET Q q 0 0 0 rg BT 298.30 423.10 Td (it ) Tj ET Q q 0 0 0 rg BT 304.82 423.10 Td (down ) Tj ET Q q 0 0 0 rg BT 324.68 423.10 Td (to ) Tj ET Q q 0 0 0 rg BT 332.98 423.10 Td (its ) Tj ET Q q 0 0 0 rg BT 342.62 423.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 375.35 423.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 388.53 423.10 Td (value. ) Tj ET Q q 0 0 0 rg BT 409.79 423.10 Td (The ) Tj ET Q q 0 0 0 rg BT 424.30 423.10 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 457.04 423.10 Td (license ) Tj ET Q q 0 0 0 rg BT 481.33 423.10 Td (was ) Tj ET Q q 0 0 0 rg BT 495.85 423.10 Td (fully ) Tj ET Q q 0 0 0 rg BT 513.03 423.10 Td (impaired ) Tj ET Q q 0 0 0 rg BT 543.55 423.10 Td (in ) Tj ET Q q 0 0 0 rg BT 551.85 423.10 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 413.50 Td (2012 ) Tj ET Q q 0 0 0 rg BT 68.09 413.50 Td (impairment ) Tj ET Q q 0 0 0 rg BT 107.57 413.50 Td (analysis. ) Tj ET Q q 0 0 0 rg BT 137.36 413.50 Td (After ) Tj ET Q q 0 0 0 rg BT 156.84 413.50 Td (adjusting ) Tj ET Q q 0 0 0 rg BT 188.76 413.50 Td (the ) Tj ET Q q 0 0 0 rg BT 201.13 413.50 Td (reporting ) Tj ET Q q 0 0 0 rg BT 233.05 413.50 Td (unit's ) Tj ET Q q 0 0 0 rg BT 252.65 413.50 Td (carrying ) Tj ET Q q 0 0 0 rg BT 281.89 413.50 Td (amount ) Tj ET Q q 0 0 0 rg BT 308.48 413.50 Td (for ) Tj ET Q q 0 0 0 rg BT 320.41 413.50 Td (the ) Tj ET Q q 0 0 0 rg BT 332.77 413.50 Td (impairment ) Tj ET Q q 0 0 0 rg BT 372.25 413.50 Td (of ) Tj ET Q q 0 0 0 rg BT 381.51 413.50 Td (other ) Tj ET Q q 0 0 0 rg BT 400.54 413.50 Td (intangible ) Tj ET Q q 0 0 0 rg BT 435.13 413.50 Td (assets, ) Tj ET Q q 0 0 0 rg BT 458.39 413.50 Td (we ) Tj ET Q q 0 0 0 rg BT 470.31 413.50 Td (determined ) Tj ET Q q 0 0 0 rg BT 508.89 413.50 Td (that ) Tj ET Q q 0 0 0 rg BT 523.48 413.50 Td (the ) Tj ET Q q 0 0 0 rg BT 535.85 413.50 Td (carrying ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 403.90 Td (amount ) Tj ET Q q 0 0 0 rg BT 75.24 403.90 Td (for ) Tj ET Q q 0 0 0 rg BT 86.32 403.90 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 116.51 403.90 Td (exceeded ) Tj ET Q q 0 0 0 rg BT 148.01 403.90 Td (its ) Tj ET Q q 0 0 0 rg BT 157.32 403.90 Td (implied ) Tj ET Q q 0 0 0 rg BT 183.51 403.90 Td (fair ) Tj ET Q q 0 0 0 rg BT 196.35 403.90 Td (value ) Tj ET Q q 0 0 0 rg BT 215.43 403.90 Td (by ) Tj ET Q q 0 0 0 rg BT 225.17 403.90 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.15 403.90 Td (16.8 ) Tj ET Q q 0 0 0 rg BT 256.89 403.90 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.01 403.90 Td ( ) Tj ET Q q 0 0 0 rg BT 281.75 403.90 Td (and ) Tj ET Q q 0 0 0 rg BT 295.05 403.90 Td (recorded ) Tj ET Q q 0 0 0 rg BT 324.78 403.90 Td (this ) Tj ET Q q 0 0 0 rg BT 338.08 403.90 Td (amount ) Tj ET Q q 0 0 0 rg BT 363.83 403.90 Td (as ) Tj ET Q q 0 0 0 rg BT 372.24 403.90 Td (an ) Tj ET Q q 0 0 0 rg BT 381.54 403.90 Td (impairment ) Tj ET Q q 0 0 0 rg BT 420.16 403.90 Td (of ) Tj ET Q q 0 0 0 rg BT 428.57 403.90 Td (goodwill. ) Tj ET Q q 0 0 0 rg BT 460.64 403.90 Td (W) Tj ET Q q 0 0 0 rg BT 467.55 403.90 Td (e ) Tj ET Q q 0 0 0 rg BT 472.85 403.90 Td (determined ) Tj ET Q q 0 0 0 rg BT 510.58 403.90 Td (that ) Tj ET Q q 0 0 0 rg BT 524.32 403.90 Td (the ) Tj ET Q q 0 0 0 rg BT 535.84 403.90 Td (carrying ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 394.30 Td (amount ) Tj ET Q q 0 0 0 rg BT 75.85 394.30 Td (of ) Tj ET Q q 0 0 0 rg BT 84.86 394.30 Td (the ) Tj ET Q q 0 0 0 rg BT 96.99 394.30 Td (asset ) Tj ET Q q 0 0 0 rg BT 114.89 394.30 Td (group ) Tj ET Q q 0 0 0 rg BT 135.90 394.30 Td (in ) Tj ET Q q 0 0 0 rg BT 144.47 394.30 Td (Bulgaria ) Tj ET Q q 0 0 0 rg BT 174.37 394.30 Td (was ) Tj ET Q q 0 0 0 rg BT 189.16 394.30 Td (recoverable ) Tj ET Q q 0 0 0 rg BT 228.82 394.30 Td (by ) Tj ET Q q 0 0 0 rg BT 239.17 394.30 Td (reference ) Tj ET Q q 0 0 0 rg BT 271.27 394.30 Td (to ) Tj ET Q q 0 0 0 rg BT 279.84 394.30 Td (the ) Tj ET Q q 0 0 0 rg BT 291.96 394.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 308.53 394.30 Td (flows ) Tj ET Q q 0 0 0 rg BT 328.66 394.30 Td (expected ) Tj ET Q q 0 0 0 rg BT 359.43 394.30 Td (to ) Tj ET Q q 0 0 0 rg BT 368.01 394.30 Td (be ) Tj ET Q q 0 0 0 rg BT 377.91 394.30 Td (generated, ) Tj ET Q q 0 0 0 rg BT 413.35 394.30 Td (and ) Tj ET Q q 0 0 0 rg BT 427.25 394.30 Td (therefore ) Tj ET Q q 0 0 0 rg BT 458.47 394.30 Td (no ) Tj ET Q q 0 0 0 rg BT 468.82 394.30 Td (impairment ) Tj ET Q q 0 0 0 rg BT 508.05 394.30 Td (was ) Tj ET Q q 0 0 0 rg BT 522.84 394.30 Td (recorded ) Tj ET Q q 0 0 0 rg BT 553.17 394.30 Td (for ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 384.70 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 84.38 384.70 Td (assets.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 369.10 Td (In ) Tj ET Q q 0 0 0 rg BT 57.92 369.10 Td (Slovenia, ) Tj ET Q q 0 0 0 rg BT 89.68 369.10 Td (we ) Tj ET Q q 0 0 0 rg BT 100.76 369.10 Td (concluded ) Tj ET Q q 0 0 0 rg BT 135.39 369.10 Td (that ) Tj ET Q q 0 0 0 rg BT 149.15 369.10 Td (the ) Tj ET Q q 0 0 0 rg BT 160.68 369.10 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 193.09 369.10 Td (license ) Tj ET Q q 0 0 0 rg BT 217.06 369.10 Td (was ) Tj ET Q q 0 0 0 rg BT 231.26 369.10 Td (no ) Tj ET Q q 0 0 0 rg BT 241.02 369.10 Td (longer ) Tj ET Q q 0 0 0 rg BT 263.21 369.10 Td (recoverable, ) Tj ET Q q 0 0 0 rg BT 304.27 369.10 Td (and ) Tj ET Q q 0 0 0 rg BT 317.58 369.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 347.32 369.10 Td (a ) Tj ET Q q 0 0 0 rg BT 352.63 369.10 Td (char) Tj ET Q q 0 0 0 rg BT 366.25 369.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 375.56 369.10 Td (of ) Tj ET Q q 0 0 0 rg BT 383.98 369.10 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.96 369.10 Td (7.6 ) Tj ET Q q 0 0 0 rg BT 411.72 369.10 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.84 369.10 Td ( ) Tj ET Q q 0 0 0 rg BT 436.59 369.10 Td (to ) Tj ET Q q 0 0 0 rg BT 444.57 369.10 Td (fully ) Tj ET Q q 0 0 0 rg BT 461.44 369.10 Td (impair ) Tj ET Q q 0 0 0 rg BT 484.08 369.10 Td (the ) Tj ET Q q 0 0 0 rg BT 495.61 369.10 Td (asset. ) Tj ET Q q 0 0 0 rg BT 514.53 369.10 Td (After ) Tj ET Q q 0 0 0 rg BT 533.17 369.10 Td (adjusting ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 359.50 Td (the ) Tj ET Q q 0 0 0 rg BT 61.04 359.50 Td (carrying ) Tj ET Q q 0 0 0 rg BT 89.45 359.50 Td (amount ) Tj ET Q q 0 0 0 rg BT 115.21 359.50 Td (of ) Tj ET Q q 0 0 0 rg BT 123.63 359.50 Td (the ) Tj ET Q q 0 0 0 rg BT 135.17 359.50 Td (Slovenia ) Tj ET Q q 0 0 0 rg BT 164.93 359.50 Td (reporting ) Tj ET Q q 0 0 0 rg BT 196.01 359.50 Td (unit ) Tj ET Q q 0 0 0 rg BT 210.22 359.50 Td (for ) Tj ET Q q 0 0 0 rg BT 221.31 359.50 Td (the ) Tj ET Q q 0 0 0 rg BT 232.84 359.50 Td (impairment ) Tj ET Q q 0 0 0 rg BT 271.48 359.50 Td (of ) Tj ET Q q 0 0 0 rg BT 279.91 359.50 Td (the ) Tj ET Q q 0 0 0 rg BT 291.45 359.50 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 323.86 359.50 Td (license, ) Tj ET Q q 0 0 0 rg BT 349.83 359.50 Td (we ) Tj ET Q q 0 0 0 rg BT 360.92 359.50 Td (determined ) Tj ET Q q 0 0 0 rg BT 398.67 359.50 Td (that ) Tj ET Q q 0 0 0 rg BT 412.43 359.50 Td (the ) Tj ET Q q 0 0 0 rg BT 423.96 359.50 Td (carrying ) Tj ET Q q 0 0 0 rg BT 452.38 359.50 Td (amount ) Tj ET Q q 0 0 0 rg BT 478.13 359.50 Td (for ) Tj ET Q q 0 0 0 rg BT 489.22 359.50 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 519.43 359.50 Td (was ) Tj ET Q q 0 0 0 rg BT 533.63 359.50 Td (in ) Tj ET Q q 0 0 0 rg BT 541.62 359.50 Td (excess ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 349.90 Td (of ) Tj ET Q q 0 0 0 rg BT 58.01 349.90 Td (its ) Tj ET Q q 0 0 0 rg BT 67.41 349.90 Td (implied ) Tj ET Q q 0 0 0 rg BT 93.69 349.90 Td (fair ) Tj ET Q q 0 0 0 rg BT 106.64 349.90 Td (value. ) Tj ET Q q 0 0 0 rg BT 127.67 349.90 Td (W) Tj ET Q q 0 0 0 rg BT 134.58 349.90 Td (e ) Tj ET Q q 0 0 0 rg BT 139.97 349.90 Td (recorded ) Tj ET Q q 0 0 0 rg BT 169.80 349.90 Td (a ) Tj ET Q q 0 0 0 rg BT 175.19 349.90 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 205.48 349.90 Td (impairment ) Tj ET Q q 0 0 0 rg BT 244.20 349.90 Td (char) Tj ET Q q 0 0 0 rg BT 257.82 349.90 Td (ge ) Tj ET Q q 0 0 0 rg BT 267.22 349.90 Td (of ) Tj ET Q q 0 0 0 rg BT 275.72 349.90 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.79 349.90 Td (19.4 ) Tj ET Q q 0 0 0 rg BT 307.63 349.90 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.75 349.90 Td ( ) Tj ET Q q 0 0 0 rg BT 332.59 349.90 Td (to ) Tj ET Q q 0 0 0 rg BT 340.66 349.90 Td (fully ) Tj ET Q q 0 0 0 rg BT 357.61 349.90 Td (impair ) Tj ET Q q 0 0 0 rg BT 380.33 349.90 Td (the ) Tj ET Q q 0 0 0 rg BT 391.95 349.90 Td (reporting ) Tj ET Q q 0 0 0 rg BT 423.12 349.90 Td (unit's ) Tj ET Q q 0 0 0 rg BT 441.96 349.90 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 472.25 349.90 Td (balance. ) Tj ET Q q 0 0 0 rg BT 500.38 349.90 Td (W) Tj ET Q q 0 0 0 rg BT 507.29 349.90 Td (e ) Tj ET Q q 0 0 0 rg BT 512.69 349.90 Td (determined ) Tj ET Q q 0 0 0 rg BT 550.51 349.90 Td (that ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 340.30 Td (the ) Tj ET Q q 0 0 0 rg BT 61.35 340.30 Td (asset ) Tj ET Q q 0 0 0 rg BT 78.98 340.30 Td (groups ) Tj ET Q q 0 0 0 rg BT 102.84 340.30 Td (in ) Tj ET Q q 0 0 0 rg BT 111.14 340.30 Td (Slovenia ) Tj ET Q q 0 0 0 rg BT 141.21 340.30 Td (were ) Tj ET Q q 0 0 0 rg BT 158.83 340.30 Td (recoverable ) Tj ET Q q 0 0 0 rg BT 198.21 340.30 Td (by ) Tj ET Q q 0 0 0 rg BT 208.29 340.30 Td (reference ) Tj ET Q q 0 0 0 rg BT 240.12 340.30 Td (to ) Tj ET Q q 0 0 0 rg BT 248.42 340.30 Td (the ) Tj ET Q q 0 0 0 rg BT 260.27 340.30 Td (expected ) Tj ET Q q 0 0 0 rg BT 290.77 340.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 307.07 340.30 Td (flows ) Tj ET Q q 0 0 0 rg BT 326.92 340.30 Td (to ) Tj ET Q q 0 0 0 rg BT 335.22 340.30 Td (be ) Tj ET Q q 0 0 0 rg BT 344.85 340.30 Td (generated, ) Tj ET Q q 0 0 0 rg BT 380.02 340.30 Td (and ) Tj ET Q q 0 0 0 rg BT 393.65 340.30 Td (therefore ) Tj ET Q q 0 0 0 rg BT 424.59 340.30 Td (no ) Tj ET Q q 0 0 0 rg BT 434.67 340.30 Td (impairment ) Tj ET Q q 0 0 0 rg BT 473.63 340.30 Td (was ) Tj ET Q q 0 0 0 rg BT 488.15 340.30 Td (recorded ) Tj ET Q q 0 0 0 rg BT 518.21 340.30 Td (for ) Tj ET Q q 0 0 0 rg BT 529.61 340.30 Td (long-lived ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 330.70 Td (assets.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 312.10 Td (Impairment ) Tj ET Q q 0 0 0 rg BT 88.83 312.10 Td (r) Tj ET Q q 0 0 0 rg BT 91.64 312.10 Td (eviews ) Tj ET Q q 0 0 0 rg BT 114.97 312.10 Td (and ) Tj ET Q q 0 0 0 rg BT 128.97 312.10 Td (char) Tj ET Q q 0 0 0 rg BT 143.34 312.10 Td (ges ) Tj ET Q q 0 0 0 rg BT 156.00 312.10 Td (r) Tj ET Q q 0 0 0 rg BT 158.82 312.10 Td (ecognized ) Tj ET Q q 0 0 0 rg BT 192.80 312.10 Td (in ) Tj ET Q q 0 0 0 rg BT 201.03 312.10 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 296.50 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 296.50 Td (e ) Tj ET Q q 0 0 0 rg BT 62.11 296.50 Td (recognized ) Tj ET Q q 0 0 0 rg BT 99.34 296.50 Td (impairment ) Tj ET Q q 0 0 0 rg BT 138.37 296.50 Td (char) Tj ET Q q 0 0 0 rg BT 151.99 296.50 Td (ges ) Tj ET Q q 0 0 0 rg BT 164.80 296.50 Td (in ) Tj ET Q q 0 0 0 rg BT 173.17 296.50 Td (the ) Tj ET Q q 0 0 0 rg BT 185.08 296.50 Td (following ) Tj ET Q q 0 0 0 rg BT 218.34 296.50 Td (reporting ) Tj ET Q q 0 0 0 rg BT 249.81 296.50 Td (units ) Tj ET Q q 0 0 0 rg BT 267.51 296.50 Td (in ) Tj ET Q q 0 0 0 rg BT 275.88 296.50 Td (respect ) Tj ET Q q 0 0 0 rg BT 300.68 296.50 Td (of ) Tj ET Q q 0 0 0 rg BT 309.49 296.50 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 340.08 296.50 Td (and ) Tj ET Q q 0 0 0 rg BT 353.78 296.50 Td (indefinite-lived ) Tj ET Q q 0 0 0 rg BT 405.24 296.50 Td (intangible ) Tj ET Q q 0 0 0 rg BT 439.38 296.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 460.18 296.50 Td (in ) Tj ET Q q 0 0 0 rg BT 468.55 296.50 Td (the ) Tj ET Q q 0 0 0 rg BT 480.47 296.50 Td (year ) Tj ET Q q 0 0 0 rg BT 496.38 296.50 Td (ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 517.63 296.50 Td (December31, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 286.90 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.50 286.90 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 249.40 156.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.00 249.40 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 249.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.00 249.40 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.00 249.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.00 249.40 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 249.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 249.40 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 249.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 249.40 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 249.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 249.40 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 219.40 156.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.00 219.40 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 219.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.00 219.40 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.00 219.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.00 219.40 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 219.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 219.40 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 219.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 219.40 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 219.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 219.40 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 189.40 156.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.00 189.40 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 189.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.00 189.40 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.00 189.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.00 189.40 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 189.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 189.40 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 189.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 189.40 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 189.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 189.40 57.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 205 249.39999999999998 m 261 249.39999999999998 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 265 249.39999999999998 m 321 249.39999999999998 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 325 249.39999999999998 m 381 249.39999999999998 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 385 249.39999999999998 m 441 249.39999999999998 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 445 249.39999999999998 m 501 249.39999999999998 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 505 249.39999999999998 m 562 249.39999999999998 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 205 249.39999999999998 m 261 249.39999999999998 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 265 249.39999999999998 m 321 249.39999999999998 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 325 249.39999999999998 m 381 249.39999999999998 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 385 249.39999999999998 m 441 249.39999999999998 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 445 249.39999999999998 m 501 249.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205 189.39999999999998 m 261 189.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205 175.39999999999998 m 261 175.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205 173.39999999999998 m 261 173.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 189.39999999999998 m 321 189.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 175.39999999999998 m 321 175.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 173.39999999999998 m 321 173.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325 189.39999999999998 m 381 189.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325 175.39999999999998 m 381 175.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325 173.39999999999998 m 381 173.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 189.39999999999998 m 441 189.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 175.39999999999998 m 441 175.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 173.39999999999998 m 441 173.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 189.39999999999998 m 501 189.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 175.39999999999998 m 501 175.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 173.39999999999998 m 501 173.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 189.39999999999998 m 562 189.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 175.39999999999998 m 562 175.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 173.39999999999998 m 562 173.39999999999998 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 220.60 261.63 Td (Long-lived) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 237.90 253.63 Td (assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 275.40 253.63 Td (Trademarks) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 343.85 261.63 Td (Customer) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 333.60 253.63 Td (relationships) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.95 261.63 Td (Broadcast) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 411.70 253.63 Td (licenses) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.35 253.63 Td (Goodwill) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 541.00 253.63 Td (Total) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 238.65 Td (Bulgaria) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 207.50 238.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 249.80 238.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.50 238.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.80 238.65 Td (7,171) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 327.50 238.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 369.80 238.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 387.50 238.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.75 238.65 Td (147,822) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.50 238.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.80 238.65 Td (10,366) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 507.50 238.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 238.65 Td (165,359) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 223.65 Td (Czech Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 239.80 223.65 Td (6,846) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 309.80 223.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 369.80 223.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.80 223.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.75 223.65 Td (287,545) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 223.65 Td (294,391) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 208.65 Td (Romania) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 249.80 208.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 309.80 208.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 369.80 208.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.80 208.65 Td (20,620) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.80 208.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 208.65 Td (20,620) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 193.65 Td (Slovak Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 239.80 193.65 Td (1,866) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 309.80 193.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 355.80 193.65 Td (28,066) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 419.80 193.65 Td (5,901) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.80 193.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 193.65 Td (35,833) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 178.63 Td (Total) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 207.50 178.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 239.80 178.63 Td (8,712) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 267.50 178.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 299.80 178.63 Td (7,171) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 327.50 178.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 355.80 178.63 Td (28,066) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 387.50 178.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 411.75 178.63 Td (174,343) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 447.50 178.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.75 178.63 Td (297,911) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 507.50 178.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 178.63 Td (516,203) Tj ET Q BT /F1 8.00 Tf ET BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 156.30 Td (Long-lived ) Tj ET Q q 0 0 0 rg BT 86.02 156.30 Td (Assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 140.70 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 140.70 Td (e ) Tj ET Q q 0 0 0 rg BT 61.55 140.70 Td (recorded ) Tj ET Q q 0 0 0 rg BT 91.12 140.70 Td (a ) Tj ET Q q 0 0 0 rg BT 96.26 140.70 Td (total ) Tj ET Q q 0 0 0 rg BT 112.07 140.70 Td (of ) Tj ET Q q 0 0 0 rg BT 120.32 140.70 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 136.14 140.70 Td (8.7 ) Tj ET Q q 0 0 0 rg BT 147.73 140.70 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 170.84 140.70 Td ( ) Tj ET Q q 0 0 0 rg BT 172.43 140.70 Td (of ) Tj ET Q q 0 0 0 rg BT 180.69 140.70 Td (impairment ) Tj ET Q q 0 0 0 rg BT 219.16 140.70 Td (losses ) Tj ET Q q 0 0 0 rg BT 239.86 140.70 Td (related ) Tj ET Q q 0 0 0 rg BT 263.21 140.70 Td (to ) Tj ET Q q 0 0 0 rg BT 271.02 140.70 Td (a ) Tj ET Q q 0 0 0 rg BT 276.16 140.70 Td (construction ) Tj ET Q q 0 0 0 rg BT 317.30 140.70 Td (project ) Tj ET Q q 0 0 0 rg BT 341.10 140.70 Td (and ) Tj ET Q q 0 0 0 rg BT 354.24 140.70 Td (land ) Tj ET Q q 0 0 0 rg BT 369.61 140.70 Td (for ) Tj ET Q q 0 0 0 rg BT 380.52 140.70 Td (development ) Tj ET Q q 0 0 0 rg BT 423.43 140.70 Td (in ) Tj ET Q q 0 0 0 rg BT 431.25 140.70 Td (the ) Tj ET Q q 0 0 0 rg BT 442.61 140.70 Td (Czech ) Tj ET Q q 0 0 0 rg BT 464.19 140.70 Td (Republic ) Tj ET Q q 0 0 0 rg BT 494.66 140.70 Td (and ) Tj ET Q q 0 0 0 rg BT 507.80 140.70 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 531.61 140.70 Td (Republic, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 131.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 87.63 131.10 Td (. ) Tj ET Q q 0 0 0 rg BT 91.68 131.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 106.16 131.10 Td (plans ) Tj ET Q q 0 0 0 rg BT 125.10 131.10 Td (to ) Tj ET Q q 0 0 0 rg BT 133.37 131.10 Td (complete ) Tj ET Q q 0 0 0 rg BT 164.73 131.10 Td (these ) Tj ET Q q 0 0 0 rg BT 183.22 131.10 Td (developments ) Tj ET Q q 0 0 0 rg BT 229.70 131.10 Td (were ) Tj ET Q q 0 0 0 rg BT 247.29 131.10 Td (not ) Tj ET Q q 0 0 0 rg BT 259.56 131.10 Td (included ) Tj ET Q q 0 0 0 rg BT 289.15 131.10 Td (in ) Tj ET Q q 0 0 0 rg BT 297.42 131.10 Td (our ) Tj ET Q q 0 0 0 rg BT 310.13 131.10 Td (long-term ) Tj ET Q q 0 0 0 rg BT 343.73 131.10 Td (forecasts ) Tj ET Q q 0 0 0 rg BT 374.20 131.10 Td (and ) Tj ET Q q 0 0 0 rg BT 387.80 131.10 Td (the ) Tj ET Q q 0 0 0 rg BT 399.62 131.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 428.32 131.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 457.48 131.10 Td (were ) Tj ET Q q 0 0 0 rg BT 475.07 131.10 Td (therefore ) Tj ET Q q 0 0 0 rg BT 505.98 131.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 544.01 131.10 Td (not ) Tj ET Q q 0 0 0 rg BT 556.28 131.10 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 121.50 Td (be ) Tj ET Q q 0 0 0 rg BT 58.84 121.50 Td (recoverable. ) Tj ET Q q 0 0 0 rg BT 99.54 121.50 Td (As ) Tj ET Q q 0 0 0 rg BT 110.22 121.50 Td (a ) Tj ET Q q 0 0 0 rg BT 115.56 121.50 Td (result, ) Tj ET Q q 0 0 0 rg BT 137.12 121.50 Td (the ) Tj ET Q q 0 0 0 rg BT 148.68 121.50 Td (carrying ) Tj ET Q q 0 0 0 rg BT 177.12 121.50 Td (amounts ) Tj ET Q q 0 0 0 rg BT 206.02 121.50 Td (were ) Tj ET Q q 0 0 0 rg BT 223.35 121.50 Td (impaired ) Tj ET Q q 0 0 0 rg BT 253.58 121.50 Td (to ) Tj ET Q q 0 0 0 rg BT 261.59 121.50 Td (their ) Tj ET Q q 0 0 0 rg BT 278.04 121.50 Td (fair ) Tj ET Q q 0 0 0 rg BT 290.93 121.50 Td (value ) Tj ET Q q 0 0 0 rg BT 310.04 121.50 Td (using ) Tj ET Q q 0 0 0 rg BT 329.17 121.50 Td (significant ) Tj ET Q q 0 0 0 rg BT 364.73 121.50 Td (Level ) Tj ET Q q 0 0 0 rg BT 384.73 121.50 Td (2 ) Tj ET Q q 0 0 0 rg BT 390.52 121.50 Td (inputs ) Tj ET Q q 0 0 0 rg BT 411.86 121.50 Td (as ) Tj ET Q q 0 0 0 rg BT 420.32 121.50 Td (described ) Tj ET Q q 0 0 0 rg BT 452.76 121.50 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.77 121.50 Td (Note ) Tj ET Q q 0 0 0 rg BT 478.11 121.50 Td (14, ) Tj ET Q q 0 0 0 rg BT 489.90 121.50 Td ("Financial ) Tj ET Q q 0 0 0 rg BT 524.72 121.50 Td (Instruments ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 111.90 Td (and ) Tj ET Q q 0 0 0 rg BT 63.05 111.90 Td (Fair ) Tj ET Q q 0 0 0 rg BT 77.79 111.90 Td (V) Tj ET Q q 0 0 0 rg BT 82.68 111.90 Td (alue ) Tj ET Q q 0 0 0 rg BT 98.01 111.90 Td (Measurements") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 147.93 111.90 Td (, ) Tj ET Q q 0 0 0 rg BT 151.93 111.90 Td (estimated ) Tj ET Q q 0 0 0 rg BT 184.58 111.90 Td (as ) Tj ET Q q 0 0 0 rg BT 193.25 111.90 Td (replacement ) Tj ET Q q 0 0 0 rg BT 234.33 111.90 Td (cost.) Tj ET Q endstream endobj 121 0 obj <>] /Rotate 0 /Contents 122 0 R>> endobj 122 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (58) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 723.45 Td (Goodwill ) Tj ET Q q 0 0 0 rg BT 81.28 723.45 Td (and ) Tj ET Q q 0 0 0 rg BT 95.28 723.45 Td (Intangible ) Tj ET Q q 0 0 0 rg BT 130.02 723.45 Td (Assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 707.85 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 707.85 Td (e ) Tj ET Q q 0 0 0 rg BT 62.31 707.85 Td (concluded ) Tj ET Q q 0 0 0 rg BT 97.53 707.85 Td (that ) Tj ET Q q 0 0 0 rg BT 111.87 707.85 Td (the ) Tj ET Q q 0 0 0 rg BT 123.99 707.85 Td (trademark ) Tj ET Q q 0 0 0 rg BT 158.76 707.85 Td (recorded ) Tj ET Q q 0 0 0 rg BT 189.09 707.85 Td (on ) Tj ET Q q 0 0 0 rg BT 199.43 707.85 Td (the ) Tj ET Q q 0 0 0 rg BT 211.55 707.85 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 249.00 707.85 Td (of ) Tj ET Q q 0 0 0 rg BT 258.01 707.85 Td (the ) Tj ET Q q 0 0 0 rg BT 270.13 707.85 Td (bTV) Tj ET Q q 0 0 0 rg BT 284.65 707.85 Td ( ) Tj ET Q q 0 0 0 rg BT 287.00 707.85 Td (group ) Tj ET Q q 0 0 0 rg BT 308.01 707.85 Td (was ) Tj ET Q q 0 0 0 rg BT 322.79 707.85 Td (further ) Tj ET Q q 0 0 0 rg BT 346.90 707.85 Td (impaired ) Tj ET Q q 0 0 0 rg BT 377.68 707.85 Td (during ) Tj ET Q q 0 0 0 rg BT 400.92 707.85 Td (2012 ) Tj ET Q q 0 0 0 rg BT 419.26 707.85 Td (and ) Tj ET Q q 0 0 0 rg BT 433.16 707.85 Td (recorded ) Tj ET Q q 0 0 0 rg BT 463.48 707.85 Td (a ) Tj ET Q q 0 0 0 rg BT 469.38 707.85 Td (char) Tj ET Q q 0 0 0 rg BT 483.00 707.85 Td (ge ) Tj ET Q q 0 0 0 rg BT 492.90 707.85 Td (of ) Tj ET Q q 0 0 0 rg BT 501.91 707.85 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 518.48 707.85 Td (7.2 ) Tj ET Q q 0 0 0 rg BT 530.83 707.85 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 553.94 707.85 Td ( ) Tj ET Q q 0 0 0 rg BT 556.29 707.85 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (write ) Tj ET Q q 0 0 0 rg BT 67.97 698.25 Td (it ) Tj ET Q q 0 0 0 rg BT 74.45 698.25 Td (down ) Tj ET Q q 0 0 0 rg BT 94.26 698.25 Td (to ) Tj ET Q q 0 0 0 rg BT 102.52 698.25 Td (its ) Tj ET Q q 0 0 0 rg BT 112.11 698.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 144.80 698.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 157.93 698.25 Td (value. ) Tj ET Q q 0 0 0 rg BT 179.14 698.25 Td (W) Tj ET Q q 0 0 0 rg BT 186.05 698.25 Td (e ) Tj ET Q q 0 0 0 rg BT 191.64 698.25 Td (also ) Tj ET Q q 0 0 0 rg BT 206.56 698.25 Td (determined ) Tj ET Q q 0 0 0 rg BT 244.57 698.25 Td (that ) Tj ET Q q 0 0 0 rg BT 258.60 698.25 Td (the ) Tj ET Q q 0 0 0 rg BT 270.41 698.25 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 303.10 698.25 Td (license ) Tj ET Q q 0 0 0 rg BT 327.34 698.25 Td (in ) Tj ET Q q 0 0 0 rg BT 335.60 698.25 Td (Bulgaria ) Tj ET Q q 0 0 0 rg BT 365.18 698.25 Td (was ) Tj ET Q q 0 0 0 rg BT 379.65 698.25 Td (no ) Tj ET Q q 0 0 0 rg BT 389.68 698.25 Td (longer ) Tj ET Q q 0 0 0 rg BT 412.15 698.25 Td (recoverable, ) Tj ET Q q 0 0 0 rg BT 453.49 698.25 Td (and ) Tj ET Q q 0 0 0 rg BT 467.08 698.25 Td (fully ) Tj ET Q q 0 0 0 rg BT 484.22 698.25 Td (impaired ) Tj ET Q q 0 0 0 rg BT 514.69 698.25 Td (the ) Tj ET Q q 0 0 0 rg BT 526.49 698.25 Td (asset. ) Tj ET Q q 0 0 0 rg BT 545.63 698.25 Td (After ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 688.65 Td (adjusting ) Tj ET Q q 0 0 0 rg BT 80.12 688.65 Td (the ) Tj ET Q q 0 0 0 rg BT 91.18 688.65 Td (reporting ) Tj ET Q q 0 0 0 rg BT 121.79 688.65 Td (unit's ) Tj ET Q q 0 0 0 rg BT 140.08 688.65 Td (carrying ) Tj ET Q q 0 0 0 rg BT 168.02 688.65 Td (amount ) Tj ET Q q 0 0 0 rg BT 193.31 688.65 Td (for ) Tj ET Q q 0 0 0 rg BT 203.92 688.65 Td (the ) Tj ET Q q 0 0 0 rg BT 214.98 688.65 Td (impairment ) Tj ET Q q 0 0 0 rg BT 253.15 688.65 Td (of ) Tj ET Q q 0 0 0 rg BT 261.10 688.65 Td (indefinite-lived ) Tj ET Q q 0 0 0 rg BT 311.71 688.65 Td (intangible ) Tj ET Q q 0 0 0 rg BT 344.99 688.65 Td (assets, ) Tj ET Q q 0 0 0 rg BT 366.94 688.65 Td (we ) Tj ET Q q 0 0 0 rg BT 377.56 688.65 Td (determined ) Tj ET Q q 0 0 0 rg BT 414.83 688.65 Td (that ) Tj ET Q q 0 0 0 rg BT 428.11 688.65 Td (the ) Tj ET Q q 0 0 0 rg BT 439.17 688.65 Td (carrying ) Tj ET Q q 0 0 0 rg BT 467.12 688.65 Td (amount ) Tj ET Q q 0 0 0 rg BT 492.40 688.65 Td (for ) Tj ET Q q 0 0 0 rg BT 503.02 688.65 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 532.75 688.65 Td (exceeded ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 679.05 Td (its ) Tj ET Q q 0 0 0 rg BT 59.07 679.05 Td (implied ) Tj ET Q q 0 0 0 rg BT 85.53 679.05 Td (fair ) Tj ET Q q 0 0 0 rg BT 98.64 679.05 Td (value ) Tj ET Q q 0 0 0 rg BT 117.98 679.05 Td (by ) Tj ET Q q 0 0 0 rg BT 127.99 679.05 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 144.23 679.05 Td (10.4 ) Tj ET Q q 0 0 0 rg BT 160.25 679.05 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 183.36 679.05 Td ( ) Tj ET Q q 0 0 0 rg BT 185.38 679.05 Td (and ) Tj ET Q q 0 0 0 rg BT 198.94 679.05 Td (recorded ) Tj ET Q q 0 0 0 rg BT 228.93 679.05 Td (this ) Tj ET Q q 0 0 0 rg BT 242.51 679.05 Td (amount ) Tj ET Q q 0 0 0 rg BT 268.52 679.05 Td (as ) Tj ET Q q 0 0 0 rg BT 277.19 679.05 Td (an ) Tj ET Q q 0 0 0 rg BT 286.76 679.05 Td (impairment ) Tj ET Q q 0 0 0 rg BT 325.65 679.05 Td (of ) Tj ET Q q 0 0 0 rg BT 334.33 679.05 Td (goodwill. ) Tj ET Q q 0 0 0 rg BT 366.64 679.05 Td (W) Tj ET Q q 0 0 0 rg BT 373.55 679.05 Td (e ) Tj ET Q q 0 0 0 rg BT 379.12 679.05 Td (determined ) Tj ET Q q 0 0 0 rg BT 417.11 679.05 Td (that ) Tj ET Q q 0 0 0 rg BT 431.12 679.05 Td (the ) Tj ET Q q 0 0 0 rg BT 442.91 679.05 Td (carrying ) Tj ET Q q 0 0 0 rg BT 471.58 679.05 Td (amount ) Tj ET Q q 0 0 0 rg BT 497.59 679.05 Td (of ) Tj ET Q q 0 0 0 rg BT 506.26 679.05 Td (the ) Tj ET Q q 0 0 0 rg BT 518.05 679.05 Td (asset ) Tj ET Q q 0 0 0 rg BT 535.62 679.05 Td (group ) Tj ET Q q 0 0 0 rg BT 556.29 679.05 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 669.45 Td (Bulgaria ) Tj ET Q q 0 0 0 rg BT 79.05 669.45 Td (was ) Tj ET Q q 0 0 0 rg BT 93.49 669.45 Td (recoverable ) Tj ET Q q 0 0 0 rg BT 132.79 669.45 Td (by ) Tj ET Q q 0 0 0 rg BT 142.79 669.45 Td (reference ) Tj ET Q q 0 0 0 rg BT 174.54 669.45 Td (to ) Tj ET Q q 0 0 0 rg BT 182.76 669.45 Td (the ) Tj ET Q q 0 0 0 rg BT 194.54 669.45 Td (expected ) Tj ET Q q 0 0 0 rg BT 224.96 669.45 Td (cash ) Tj ET Q q 0 0 0 rg BT 241.18 669.45 Td (flows ) Tj ET Q q 0 0 0 rg BT 260.95 669.45 Td (to ) Tj ET Q q 0 0 0 rg BT 269.18 669.45 Td (be ) Tj ET Q q 0 0 0 rg BT 278.73 669.45 Td (generated, ) Tj ET Q q 0 0 0 rg BT 313.82 669.45 Td (and ) Tj ET Q q 0 0 0 rg BT 327.37 669.45 Td (therefore ) Tj ET Q q 0 0 0 rg BT 358.23 669.45 Td (no ) Tj ET Q q 0 0 0 rg BT 368.23 669.45 Td (impairment ) Tj ET Q q 0 0 0 rg BT 407.11 669.45 Td (was ) Tj ET Q q 0 0 0 rg BT 421.55 669.45 Td (recorded ) Tj ET Q q 0 0 0 rg BT 451.54 669.45 Td (for ) Tj ET Q q 0 0 0 rg BT 462.86 669.45 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 497.75 669.45 Td (assets.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 653.85 Td (Similarly) Tj ET Q q 0 0 0 rg BT 78.76 653.85 Td (, ) Tj ET Q q 0 0 0 rg BT 82.76 653.85 Td (we ) Tj ET Q q 0 0 0 rg BT 94.10 653.85 Td (determined ) Tj ET Q q 0 0 0 rg BT 132.09 653.85 Td (that ) Tj ET Q q 0 0 0 rg BT 146.09 653.85 Td (the ) Tj ET Q q 0 0 0 rg BT 157.87 653.85 Td (asset ) Tj ET Q q 0 0 0 rg BT 175.43 653.85 Td (groups ) Tj ET Q q 0 0 0 rg BT 199.22 653.85 Td (in ) Tj ET Q q 0 0 0 rg BT 207.45 653.85 Td (the ) Tj ET Q q 0 0 0 rg BT 219.23 653.85 Td (Czech ) Tj ET Q q 0 0 0 rg BT 241.22 653.85 Td (Republic ) Tj ET Q q 0 0 0 rg BT 272.11 653.85 Td (were ) Tj ET Q q 0 0 0 rg BT 289.66 653.85 Td (recoverable ) Tj ET Q q 0 0 0 rg BT 328.97 653.85 Td (by ) Tj ET Q q 0 0 0 rg BT 338.98 653.85 Td (reference ) Tj ET Q q 0 0 0 rg BT 370.73 653.85 Td (to ) Tj ET Q q 0 0 0 rg BT 378.96 653.85 Td (the ) Tj ET Q q 0 0 0 rg BT 390.74 653.85 Td (expected ) Tj ET Q q 0 0 0 rg BT 421.17 653.85 Td (cash ) Tj ET Q q 0 0 0 rg BT 437.40 653.85 Td (flows ) Tj ET Q q 0 0 0 rg BT 457.18 653.85 Td (to ) Tj ET Q q 0 0 0 rg BT 465.41 653.85 Td (be ) Tj ET Q q 0 0 0 rg BT 474.97 653.85 Td (generated, ) Tj ET Q q 0 0 0 rg BT 510.06 653.85 Td (and ) Tj ET Q q 0 0 0 rg BT 523.62 653.85 Td (therefore ) Tj ET Q q 0 0 0 rg BT 554.50 653.85 Td (no ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 644.25 Td (impairment ) Tj ET Q q 0 0 0 rg BT 88.50 644.25 Td (was ) Tj ET Q q 0 0 0 rg BT 103.06 644.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 133.16 644.25 Td (for ) Tj ET Q q 0 0 0 rg BT 144.60 644.25 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 179.60 644.25 Td (or ) Tj ET Q q 0 0 0 rg BT 188.38 644.25 Td (intangible ) Tj ET Q q 0 0 0 rg BT 222.50 644.25 Td (assets, ) Tj ET Q q 0 0 0 rg BT 245.28 644.25 Td (except ) Tj ET Q q 0 0 0 rg BT 268.27 644.25 Td (as ) Tj ET Q q 0 0 0 rg BT 277.05 644.25 Td (noted ) Tj ET Q q 0 0 0 rg BT 296.94 644.25 Td (above. ) Tj ET Q q 0 0 0 rg BT 320.16 644.25 Td (However) Tj ET Q q 0 0 0 rg BT 349.16 644.25 Td (, ) Tj ET Q q 0 0 0 rg BT 353.28 644.25 Td (we ) Tj ET Q q 0 0 0 rg BT 364.73 644.25 Td (determined ) Tj ET Q q 0 0 0 rg BT 402.83 644.25 Td (that ) Tj ET Q q 0 0 0 rg BT 416.95 644.25 Td (the ) Tj ET Q q 0 0 0 rg BT 428.84 644.25 Td (carrying ) Tj ET Q q 0 0 0 rg BT 457.61 644.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 483.72 644.25 Td (of ) Tj ET Q q 0 0 0 rg BT 492.50 644.25 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 523.07 644.25 Td (exceeded ) Tj ET Q q 0 0 0 rg BT 554.94 644.25 Td (its ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 634.65 Td (implied ) Tj ET Q q 0 0 0 rg BT 75.94 634.65 Td (fair ) Tj ET Q q 0 0 0 rg BT 89.04 634.65 Td (value ) Tj ET Q q 0 0 0 rg BT 108.37 634.65 Td (by ) Tj ET Q q 0 0 0 rg BT 118.37 634.65 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 134.59 634.65 Td (287.5 ) Tj ET Q q 0 0 0 rg BT 154.59 634.65 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 177.71 634.65 Td ( ) Tj ET Q q 0 0 0 rg BT 179.71 634.65 Td (and ) Tj ET Q q 0 0 0 rg BT 193.26 634.65 Td (recorded ) Tj ET Q q 0 0 0 rg BT 223.24 634.65 Td (this ) Tj ET Q q 0 0 0 rg BT 236.80 634.65 Td (amount ) Tj ET Q q 0 0 0 rg BT 262.79 634.65 Td (as ) Tj ET Q q 0 0 0 rg BT 271.46 634.65 Td (an ) Tj ET Q q 0 0 0 rg BT 281.01 634.65 Td (impairment ) Tj ET Q q 0 0 0 rg BT 319.89 634.65 Td (of ) Tj ET Q q 0 0 0 rg BT 328.55 634.65 Td (goodwill.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 619.05 Td (Lastly) Tj ET Q q 0 0 0 rg BT 68.98 619.05 Td (, ) Tj ET Q q 0 0 0 rg BT 73.27 619.05 Td (we ) Tj ET Q q 0 0 0 rg BT 84.89 619.05 Td (determined ) Tj ET Q q 0 0 0 rg BT 123.16 619.05 Td (that ) Tj ET Q q 0 0 0 rg BT 137.45 619.05 Td (the ) Tj ET Q q 0 0 0 rg BT 149.51 619.05 Td (customer ) Tj ET Q q 0 0 0 rg BT 181.13 619.05 Td (relationship ) Tj ET Q q 0 0 0 rg BT 221.19 619.05 Td (intangible ) Tj ET Q q 0 0 0 rg BT 255.47 619.05 Td (asset ) Tj ET Q q 0 0 0 rg BT 273.31 619.05 Td (in ) Tj ET Q q 0 0 0 rg BT 281.83 619.05 Td (the ) Tj ET Q q 0 0 0 rg BT 293.89 619.05 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 318.41 619.05 Td (Republic, ) Tj ET Q q 0 0 0 rg BT 351.58 619.05 Td (as ) Tj ET Q q 0 0 0 rg BT 360.54 619.05 Td (well ) Tj ET Q q 0 0 0 rg BT 376.60 619.05 Td (as ) Tj ET Q q 0 0 0 rg BT 385.55 619.05 Td (the ) Tj ET Q q 0 0 0 rg BT 397.62 619.05 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 430.56 619.05 Td (licenses ) Tj ET Q q 0 0 0 rg BT 458.18 619.05 Td (in ) Tj ET Q q 0 0 0 rg BT 466.69 619.05 Td (both ) Tj ET Q q 0 0 0 rg BT 483.21 619.05 Td (the ) Tj ET Q q 0 0 0 rg BT 495.27 619.05 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 519.78 619.05 Td (Republic ) Tj ET Q q 0 0 0 rg BT 550.96 619.05 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 609.45 Td (Romania, ) Tj ET Q q 0 0 0 rg BT 82.35 609.45 Td (were ) Tj ET Q q 0 0 0 rg BT 99.86 609.45 Td (not ) Tj ET Q q 0 0 0 rg BT 112.04 609.45 Td (recoverable, ) Tj ET Q q 0 0 0 rg BT 153.31 609.45 Td (and ) Tj ET Q q 0 0 0 rg BT 166.83 609.45 Td (fully ) Tj ET Q q 0 0 0 rg BT 183.90 609.45 Td (impaired ) Tj ET Q q 0 0 0 rg BT 214.30 609.45 Td (these ) Tj ET Q q 0 0 0 rg BT 232.70 609.45 Td (assets. ) Tj ET Q q 0 0 0 rg BT 254.90 609.45 Td (After ) Tj ET Q q 0 0 0 rg BT 273.74 609.45 Td (adjusting ) Tj ET Q q 0 0 0 rg BT 305.04 609.45 Td (the ) Tj ET Q q 0 0 0 rg BT 316.78 609.45 Td (carrying ) Tj ET Q q 0 0 0 rg BT 345.39 609.45 Td (amount ) Tj ET Q q 0 0 0 rg BT 371.36 609.45 Td (of ) Tj ET Q q 0 0 0 rg BT 379.98 609.45 Td (each ) Tj ET Q q 0 0 0 rg BT 396.60 609.45 Td (of ) Tj ET Q q 0 0 0 rg BT 405.23 609.45 Td (these ) Tj ET Q q 0 0 0 rg BT 423.63 609.45 Td (reporting ) Tj ET Q q 0 0 0 rg BT 454.92 609.45 Td (units ) Tj ET Q q 0 0 0 rg BT 472.45 609.45 Td (for ) Tj ET Q q 0 0 0 rg BT 483.74 609.45 Td (the ) Tj ET Q q 0 0 0 rg BT 495.48 609.45 Td (impairment ) Tj ET Q q 0 0 0 rg BT 534.32 609.45 Td (of ) Tj ET Q q 0 0 0 rg BT 542.95 609.45 Td (finite-) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 599.85 Td (lived ) Tj ET Q q 0 0 0 rg BT 67.57 599.85 Td (intangible ) Tj ET Q q 0 0 0 rg BT 101.63 599.85 Td (assets, ) Tj ET Q q 0 0 0 rg BT 124.37 599.85 Td (the ) Tj ET Q q 0 0 0 rg BT 136.22 599.85 Td (resulting ) Tj ET Q q 0 0 0 rg BT 166.29 599.85 Td (carrying ) Tj ET Q q 0 0 0 rg BT 195.01 599.85 Td (amounts ) Tj ET Q q 0 0 0 rg BT 224.20 599.85 Td (were ) Tj ET Q q 0 0 0 rg BT 241.81 599.85 Td (substantially ) Tj ET Q q 0 0 0 rg BT 284.33 599.85 Td (in ) Tj ET Q q 0 0 0 rg BT 292.62 599.85 Td (excess ) Tj ET Q q 0 0 0 rg BT 315.58 599.85 Td (of ) Tj ET Q q 0 0 0 rg BT 324.31 599.85 Td (their ) Tj ET Q q 0 0 0 rg BT 341.05 599.85 Td (estimated ) Tj ET Q q 0 0 0 rg BT 373.78 599.85 Td (fair ) Tj ET Q q 0 0 0 rg BT 386.95 599.85 Td (values, ) Tj ET Q q 0 0 0 rg BT 411.46 599.85 Td (and ) Tj ET Q q 0 0 0 rg BT 425.08 599.85 Td (therefore ) Tj ET Q q 0 0 0 rg BT 456.03 599.85 Td (we ) Tj ET Q q 0 0 0 rg BT 467.43 599.85 Td (determined ) Tj ET Q q 0 0 0 rg BT 505.48 599.85 Td (that ) Tj ET Q q 0 0 0 rg BT 519.55 599.85 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 550.07 599.85 Td (was ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 590.25 Td (not ) Tj ET Q q 0 0 0 rg BT 61.72 590.25 Td (impaired.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 574.65 Td (5. ) Tj ET Q q 0 0 0 rg BT 67.50 574.65 Td (LONG-TERM ) Tj ET Q q 0 0 0 rg BT 119.72 574.65 Td (DEBT) Tj ET Q q 0 0 0 rg BT 141.36 574.65 Td ( ) Tj ET Q q 0 0 0 rg BT 142.92 574.65 Td (AND ) Tj ET Q q 0 0 0 rg BT 162.25 574.65 Td (OTHER ) Tj ET Q q 0 0 0 rg BT 193.15 574.65 Td (FINANCING ) Tj ET Q q 0 0 0 rg BT 240.93 574.65 Td (ARRANGEMENTS) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 559.05 Td (Summary) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 533.55 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 533.55 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 533.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 533.55 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 503.55 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 503.55 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 503.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 503.55 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 473.55 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 473.55 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 473.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 473.55 90.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 378 533.55 m 468 533.55 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472 533.55 m 562 533.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 503.55 m 468 503.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 503.55 m 562 503.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 473.55 m 468 473.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 459.55 m 468 459.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 457.55 m 468 457.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 473.55 m 562 473.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 459.55 m 562 459.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 457.55 m 562 457.55 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 537.80 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 400.00 537.78 Td (December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.00 537.78 Td (December 31, 2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 522.80 Td (Senior debt) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.50 522.80 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.80 522.80 Td (867,367) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.50 522.80 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 522.80 Td (956,956) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 507.80 Td (Other credit facilities and capital leases) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.80 507.80 Td (6,732) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 507.80 Td (7,307) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 492.78 Td (T) Tj ET Q q 0 0 0 rg BT 57.47 492.78 Td (otal ) Tj ET Q q 0 0 0 rg BT 71.99 492.78 Td (long-term ) Tj ET Q q 0 0 0 rg BT 107.75 492.78 Td (debt ) Tj ET Q q 0 0 0 rg BT 124.87 492.78 Td (and ) Tj ET Q q 0 0 0 rg BT 139.77 492.78 Td (other) Tj ET Q q 0 0 0 rg BT 157.91 492.78 Td ( ) Tj ET Q q 0 0 0 rg BT 159.84 492.78 Td (financing ) Tj ET Q q 0 0 0 rg BT 193.84 492.78 Td (arrangements) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.80 492.78 Td (874,099) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.80 492.78 Td (964,263) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 477.80 Td (Less: ) Tj ET Q q 0 0 0 rg BT 71.39 477.80 Td (current ) Tj ET Q q 0 0 0 rg BT 96.04 477.80 Td (maturities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.10 477.80 Td (\(252,859) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.80 477.80 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.10 477.80 Td (\(1,461) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 477.80 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 462.78 Td (T) Tj ET Q q 0 0 0 rg BT 57.10 462.78 Td (otal ) Tj ET Q q 0 0 0 rg BT 71.99 462.78 Td (non-curr) Tj ET Q q 0 0 0 rg BT 102.51 462.78 Td (ent ) Tj ET Q q 0 0 0 rg BT 115.17 462.78 Td (long-term ) Tj ET Q q 0 0 0 rg BT 150.94 462.78 Td (debt ) Tj ET Q q 0 0 0 rg BT 168.05 462.78 Td (and ) Tj ET Q q 0 0 0 rg BT 182.95 462.78 Td (other) Tj ET Q q 0 0 0 rg BT 201.02 462.78 Td ( ) Tj ET Q q 0 0 0 rg BT 203.02 462.78 Td (financing ) Tj ET Q q 0 0 0 rg BT 237.03 462.78 Td (arrangements) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 380.50 462.78 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.80 462.78 Td (621,240) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 474.50 462.78 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.80 462.78 Td (962,802) Tj ET Q BT /F1 8.00 Tf ET BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 443.45 Td (Financing ) Tj ET Q q 0 0 0 rg BT 85.59 443.45 Td (T) Tj ET Q q 0 0 0 rg BT 90.33 443.45 Td (ransactions) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 427.85 Td (On ) Tj ET Q q 0 0 0 rg BT 61.81 427.85 Td (February ) Tj ET Q q 0 0 0 rg BT 93.21 427.85 Td (28, ) Tj ET Q q 0 0 0 rg BT 105.74 427.85 Td (2014, ) Tj ET Q q 0 0 0 rg BT 126.27 427.85 Td (we ) Tj ET Q q 0 0 0 rg BT 138.13 427.85 Td (entered ) Tj ET Q q 0 0 0 rg BT 164.20 427.85 Td (into ) Tj ET Q q 0 0 0 rg BT 179.17 427.85 Td (a ) Tj ET Q q 0 0 0 rg BT 185.25 427.85 Td (framework ) Tj ET Q q 0 0 0 rg BT 222.88 427.85 Td (agreement ) Tj ET Q q 0 0 0 rg BT 258.72 427.85 Td (\(the ) Tj ET Q q 0 0 0 rg BT 273.69 427.85 Td (Framework ) Tj ET Q q 0 0 0 rg BT 316.09 427.85 Td (Agreement\) ) Tj ET Q q 0 0 0 rg BT 360.37 427.85 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 390.45 427.85 Td (to ) Tj ET Q q 0 0 0 rg BT 399.20 427.85 Td (which ) Tj ET Q q 0 0 0 rg BT 421.28 427.85 Td (we ) Tj ET Q q 0 0 0 rg BT 433.14 427.85 Td (undertook ) Tj ET Q q 0 0 0 rg BT 468.11 427.85 Td (a ) Tj ET Q q 0 0 0 rg BT 474.19 427.85 Td (rights ) Tj ET Q q 0 0 0 rg BT 494.94 427.85 Td (of) Tj ET Q q 0 0 0 rg BT 501.46 427.85 Td (fering ) Tj ET Q q 0 0 0 rg BT 523.09 427.85 Td (\(the ) Tj ET Q q 0 0 0 rg BT 538.06 427.85 Td (Rights ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 418.25 Td (Of) Tj ET Q q 0 0 0 rg BT 57.80 418.25 Td (fering\) ) Tj ET Q q 0 0 0 rg BT 85.11 418.25 Td (and ) Tj ET Q q 0 0 0 rg BT 98.66 418.25 Td (a ) Tj ET Q q 0 0 0 rg BT 104.21 418.25 Td (series ) Tj ET Q q 0 0 0 rg BT 124.43 418.25 Td (of ) Tj ET Q q 0 0 0 rg BT 133.09 418.25 Td (related ) Tj ET Q q 0 0 0 rg BT 156.86 418.25 Td (financing ) Tj ET Q q 0 0 0 rg BT 189.07 418.25 Td (transactions ) Tj ET Q q 0 0 0 rg BT 229.28 418.25 Td (with ) Tj ET Q q 0 0 0 rg BT 245.36 418.25 Td (T) Tj ET Q q 0 0 0 rg BT 249.96 418.25 Td (ime ) Tj ET Q q 0 0 0 rg BT 263.81 418.25 Td (W) Tj ET Q q 0 0 0 rg BT 270.72 418.25 Td (arner ) Tj ET Q q 0 0 0 rg BT 289.15 418.25 Td (Media ) Tj ET Q q 0 0 0 rg BT 311.59 418.25 Td (Holdings ) Tj ET Q q 0 0 0 rg BT 342.93 418.25 Td (B.V) Tj ET Q q 0 0 0 rg BT 355.01 418.25 Td (. ) Tj ET Q q 0 0 0 rg BT 359.01 418.25 Td (\("TW) Tj ET Q q 0 0 0 rg BT 377.23 418.25 Td (Investor"\) ) Tj ET Q q 0 0 0 rg BT 413.38 418.25 Td (and ) Tj ET Q q 0 0 0 rg BT 426.78 418.25 Td (T) Tj ET Q q 0 0 0 rg BT 431.39 418.25 Td (ime ) Tj ET Q q 0 0 0 rg BT 445.24 418.25 Td (W) Tj ET Q q 0 0 0 rg BT 452.15 418.25 Td (arner ) Tj ET Q q 0 0 0 rg BT 470.58 418.25 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 484.79 418.25 Td (\(T) Tj ET Q q 0 0 0 rg BT 495.61 418.25 Td (ime ) Tj ET Q q 0 0 0 rg BT 509.46 418.25 Td (W) Tj ET Q q 0 0 0 rg BT 516.38 418.25 Td (arner\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 402.65 Td (On ) Tj ET Q q 0 0 0 rg BT 61.75 402.65 Td (May ) Tj ET Q q 0 0 0 rg BT 78.88 402.65 Td (2, ) Tj ET Q q 0 0 0 rg BT 87.34 402.65 Td (2014, ) Tj ET Q q 0 0 0 rg BT 107.81 402.65 Td (we ) Tj ET Q q 0 0 0 rg BT 119.61 402.65 Td (issued ) Tj ET Q q 0 0 0 rg BT 142.08 402.65 Td (and ) Tj ET Q q 0 0 0 rg BT 156.09 402.65 Td (sold ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 171.90 402.65 Td (4,000,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 203.90 402.65 Td ( ) Tj ET Q q 0 0 0 rg BT 206.37 402.65 Td (units ) Tj ET Q q 0 0 0 rg BT 224.39 402.65 Td (in ) Tj ET Q q 0 0 0 rg BT 233.08 402.65 Td (the ) Tj ET Q q 0 0 0 rg BT 245.32 402.65 Td (Rights ) Tj ET Q q 0 0 0 rg BT 268.69 402.65 Td (Of) Tj ET Q q 0 0 0 rg BT 276.98 402.65 Td (fering ) Tj ET Q q 0 0 0 rg BT 298.55 402.65 Td (and ) Tj ET Q q 0 0 0 rg BT 312.57 402.65 Td (related ) Tj ET Q q 0 0 0 rg BT 336.80 402.65 Td (financing ) Tj ET Q q 0 0 0 rg BT 369.48 402.65 Td (transactions ) Tj ET Q q 0 0 0 rg BT 410.16 402.65 Td (for ) Tj ET Q q 0 0 0 rg BT 421.95 402.65 Td (gross ) Tj ET Q q 0 0 0 rg BT 441.31 402.65 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 472.21 402.65 Td (of ) Tj ET Q q 0 0 0 rg BT 481.34 402.65 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 498.04 402.65 Td (400.0 ) Tj ET Q q 0 0 0 rg BT 518.50 402.65 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.62 402.65 Td (. ) Tj ET Q q 0 0 0 rg BT 545.91 402.65 Td (T) Tj ET Q q 0 0 0 rg BT 550.51 402.65 Td (ime ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 393.05 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 393.05 Td (arner ) Tj ET Q q 0 0 0 rg BT 74.22 393.05 Td (and ) Tj ET Q q 0 0 0 rg BT 87.05 393.05 Td (TW) Tj ET Q q 0 0 0 rg BT 99.34 393.05 Td ( ) Tj ET Q q 0 0 0 rg BT 100.72 393.05 Td (Investor ) Tj ET Q q 0 0 0 rg BT 128.31 393.05 Td (purchased ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 162.12 393.05 Td (3,377,476) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 194.12 393.05 Td ( ) Tj ET Q q 0 0 0 rg BT 195.50 393.05 Td (of ) Tj ET Q q 0 0 0 rg BT 203.54 393.05 Td (the ) Tj ET Q q 0 0 0 rg BT 214.70 393.05 Td (units, ) Tj ET Q q 0 0 0 rg BT 233.63 393.05 Td (including ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 265.23 393.05 Td (581,533) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.23 393.05 Td ( ) Tj ET Q q 0 0 0 rg BT 292.61 393.05 Td (units ) Tj ET Q q 0 0 0 rg BT 309.55 393.05 Td (purchased ) Tj ET Q q 0 0 0 rg BT 343.36 393.05 Td (by ) Tj ET Q q 0 0 0 rg BT 352.64 393.05 Td (T) Tj ET Q q 0 0 0 rg BT 357.24 393.05 Td (ime ) Tj ET Q q 0 0 0 rg BT 370.52 393.05 Td (W) Tj ET Q q 0 0 0 rg BT 377.43 393.05 Td (arner ) Tj ET Q q 0 0 0 rg BT 395.24 393.05 Td (in ) Tj ET Q q 0 0 0 rg BT 402.84 393.05 Td (a ) Tj ET Q q 0 0 0 rg BT 407.77 393.05 Td (private ) Tj ET Q q 0 0 0 rg BT 431.36 393.05 Td (placement ) Tj ET Q q 0 0 0 rg BT 465.61 393.05 Td (conducted ) Tj ET Q q 0 0 0 rg BT 499.86 393.05 Td (contemporaneously ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 383.45 Td (with ) Tj ET Q q 0 0 0 rg BT 65.50 383.45 Td (the ) Tj ET Q q 0 0 0 rg BT 77.05 383.45 Td (Rights ) Tj ET Q q 0 0 0 rg BT 99.72 383.45 Td (Of) Tj ET Q q 0 0 0 rg BT 108.01 383.45 Td (fering ) Tj ET Q q 0 0 0 rg BT 128.89 383.45 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 142.22 383.45 Td (566,299) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 168.22 383.45 Td ( ) Tj ET Q q 0 0 0 rg BT 169.99 383.45 Td (units ) Tj ET Q q 0 0 0 rg BT 187.33 383.45 Td (purchased ) Tj ET Q q 0 0 0 rg BT 221.53 383.45 Td (by ) Tj ET Q q 0 0 0 rg BT 231.18 383.45 Td (T) Tj ET Q q 0 0 0 rg BT 235.78 383.45 Td (ime ) Tj ET Q q 0 0 0 rg BT 249.43 383.45 Td (W) Tj ET Q q 0 0 0 rg BT 256.34 383.45 Td (arner ) Tj ET Q q 0 0 0 rg BT 274.54 383.45 Td (in ) Tj ET Q q 0 0 0 rg BT 282.54 383.45 Td (a ) Tj ET Q q 0 0 0 rg BT 287.87 383.45 Td (private ) Tj ET Q q 0 0 0 rg BT 311.85 383.45 Td (placement ) Tj ET Q q 0 0 0 rg BT 346.50 383.45 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 375.83 383.45 Td (to ) Tj ET Q q 0 0 0 rg BT 383.82 383.45 Td (a ) Tj ET Q q 0 0 0 rg BT 389.15 383.45 Td (backstop ) Tj ET Q q 0 0 0 rg BT 419.36 383.45 Td (it ) Tj ET Q q 0 0 0 rg BT 425.58 383.45 Td (provided ) Tj ET Q q 0 0 0 rg BT 455.80 383.45 Td (for ) Tj ET Q q 0 0 0 rg BT 466.90 383.45 Td (the ) Tj ET Q q 0 0 0 rg BT 478.45 383.45 Td (Rights ) Tj ET Q q 0 0 0 rg BT 501.12 383.45 Td (Of) Tj ET Q q 0 0 0 rg BT 509.42 383.45 Td (fering. ) Tj ET Q q 0 0 0 rg BT 532.29 383.45 Td (Each ) Tj ET Q q 0 0 0 rg BT 550.06 383.45 Td (unit ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 373.85 Td (consisted ) Tj ET Q q 0 0 0 rg BT 81.33 373.85 Td (of ) Tj ET Q q 0 0 0 rg BT 90.06 373.85 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 99.67 373.85 Td (a ) Tj ET Q q 0 0 0 rg BT 105.29 373.85 Td (2017 ) Tj ET Q q 0 0 0 rg BT 123.35 373.85 Td (PIK ) Tj ET Q q 0 0 0 rg BT 138.30 373.85 Td (Note ) Tj ET Q q 0 0 0 rg BT 155.91 373.85 Td (\(as ) Tj ET Q q 0 0 0 rg BT 167.30 373.85 Td (defined ) Tj ET Q q 0 0 0 rg BT 193.35 373.85 Td (below\)in ) Tj ET Q q 0 0 0 rg BT 225.85 373.85 Td (the ) Tj ET Q q 0 0 0 rg BT 237.68 373.85 Td (original ) Tj ET Q q 0 0 0 rg BT 264.63 373.85 Td (principal ) Tj ET Q q 0 0 0 rg BT 295.12 373.85 Td (amount ) Tj ET Q q 0 0 0 rg BT 321.18 373.85 Td (of ) Tj ET Q q 0 0 0 rg BT 329.91 373.85 Td (US$) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 346.13 373.85 Td (100.00) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.13 373.85 Td (and ) Tj ET Q q 0 0 0 rg BT 383.75 373.85 Td (\(ii\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 395.52 373.85 Td (21) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.52 373.85 Td (unit ) Tj ET Q q 0 0 0 rg BT 420.03 373.85 Td (warrants ) Tj ET Q q 0 0 0 rg BT 449.63 373.85 Td (\(each, ) Tj ET Q q 0 0 0 rg BT 471.01 373.85 Td (a ) Tj ET Q q 0 0 0 rg BT 476.62 373.85 Td ("Unit ) Tj ET Q q 0 0 0 rg BT 496.02 373.85 Td (W) Tj ET Q q 0 0 0 rg BT 502.93 373.85 Td (arrant"\), ) Tj ET Q q 0 0 0 rg BT 531.58 373.85 Td (with ) Tj ET Q q 0 0 0 rg BT 547.86 373.85 Td (each ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 364.25 Td (Unit ) Tj ET Q q 0 0 0 rg BT 65.59 364.25 Td (W) Tj ET Q q 0 0 0 rg BT 72.50 364.25 Td (arrant ) Tj ET Q q 0 0 0 rg BT 93.17 364.25 Td (entitling ) Tj ET Q q 0 0 0 rg BT 121.86 364.25 Td (the ) Tj ET Q q 0 0 0 rg BT 133.65 364.25 Td (holder ) Tj ET Q q 0 0 0 rg BT 156.10 364.25 Td (to ) Tj ET Q q 0 0 0 rg BT 164.34 364.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 194.79 364.25 Td (one ) Tj ET Q q 0 0 0 rg BT 208.36 364.25 Td (share ) Tj ET Q q 0 0 0 rg BT 227.25 364.25 Td (of ) Tj ET Q q 0 0 0 rg BT 235.94 364.25 Td (our ) Tj ET Q q 0 0 0 rg BT 248.62 364.25 Td (Class ) Tj ET Q q 0 0 0 rg BT 267.53 364.25 Td (A) Tj ET Q q 0 0 0 rg BT 272.86 364.25 Td ( ) Tj ET Q q 0 0 0 rg BT 274.88 364.25 Td (common ) Tj ET Q q 0 0 0 rg BT 304.89 364.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 323.80 364.25 Td (for ) Tj ET Q q 0 0 0 rg BT 335.14 364.25 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.39 364.25 Td (1.00) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.39 364.25 Td ( ) Tj ET Q q 0 0 0 rg BT 367.40 364.25 Td (per ) Tj ET Q q 0 0 0 rg BT 379.64 364.25 Td (share. ) Tj ET Q q 0 0 0 rg BT 400.39 364.25 Td (W) Tj ET Q q 0 0 0 rg BT 407.30 364.25 Td (e ) Tj ET Q q 0 0 0 rg BT 412.87 364.25 Td (issued ) Tj ET Q q 0 0 0 rg BT 434.88 364.25 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.13 364.25 Td (400.0 ) Tj ET Q q 0 0 0 rg BT 471.15 364.25 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.26 364.25 Td ( ) Tj ET Q q 0 0 0 rg BT 496.28 364.25 Td (in ) Tj ET Q q 0 0 0 rg BT 504.52 364.25 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 537.62 364.25 Td (original ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 354.65 Td (principal ) Tj ET Q q 0 0 0 rg BT 79.76 354.65 Td (amount ) Tj ET Q q 0 0 0 rg BT 105.59 354.65 Td (of ) Tj ET Q q 0 0 0 rg BT 114.08 354.65 Td (2017 ) Tj ET Q q 0 0 0 rg BT 131.91 354.65 Td (PIK ) Tj ET Q q 0 0 0 rg BT 146.63 354.65 Td (Notes ) Tj ET Q q 0 0 0 rg BT 167.13 354.65 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 180.51 354.65 Td (84,000,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 216.51 354.65 Td ( ) Tj ET Q q 0 0 0 rg BT 218.34 354.65 Td (Unit ) Tj ET Q q 0 0 0 rg BT 234.26 354.65 Td (W) Tj ET Q q 0 0 0 rg BT 241.17 354.65 Td (arrants ) Tj ET Q q 0 0 0 rg BT 264.77 354.65 Td (in ) Tj ET Q q 0 0 0 rg BT 272.82 354.65 Td (the ) Tj ET Q q 0 0 0 rg BT 284.42 354.65 Td (Rights ) Tj ET Q q 0 0 0 rg BT 307.15 354.65 Td (Of) Tj ET Q q 0 0 0 rg BT 315.44 354.65 Td (fering ) Tj ET Q q 0 0 0 rg BT 336.38 354.65 Td (and ) Tj ET Q q 0 0 0 rg BT 349.76 354.65 Td (related ) Tj ET Q q 0 0 0 rg BT 373.35 354.65 Td (financing ) Tj ET Q q 0 0 0 rg BT 405.39 354.65 Td (transactions.Concurrently ) Tj ET Q q 0 0 0 rg BT 491.64 354.65 Td (with ) Tj ET Q q 0 0 0 rg BT 507.69 354.65 Td (the ) Tj ET Q q 0 0 0 rg BT 519.30 354.65 Td (closing ) Tj ET Q q 0 0 0 rg BT 544.24 354.65 Td (of ) Tj ET Q q 0 0 0 rg BT 552.73 354.65 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 345.05 Td (Rights ) Tj ET Q q 0 0 0 rg BT 72.71 345.05 Td (Of) Tj ET Q q 0 0 0 rg BT 81.01 345.05 Td (fering ) Tj ET Q q 0 0 0 rg BT 102.43 345.05 Td (and ) Tj ET Q q 0 0 0 rg BT 116.30 345.05 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 146.17 345.05 Td (to ) Tj ET Q q 0 0 0 rg BT 154.71 345.05 Td (a ) Tj ET Q q 0 0 0 rg BT 160.58 345.05 Td (term ) Tj ET Q q 0 0 0 rg BT 177.56 345.05 Td (loan ) Tj ET Q q 0 0 0 rg BT 193.66 345.05 Td (credit ) Tj ET Q q 0 0 0 rg BT 214.19 345.05 Td (agreement ) Tj ET Q q 0 0 0 rg BT 249.82 345.05 Td (between ) Tj ET Q q 0 0 0 rg BT 278.79 345.05 Td (us ) Tj ET Q q 0 0 0 rg BT 288.22 345.05 Td (and ) Tj ET Q q 0 0 0 rg BT 301.93 345.05 Td (T) Tj ET Q q 0 0 0 rg BT 306.53 345.05 Td (ime ) Tj ET Q q 0 0 0 rg BT 320.68 345.05 Td (W) Tj ET Q q 0 0 0 rg BT 327.59 345.05 Td (arner ) Tj ET Q q 0 0 0 rg BT 346.34 345.05 Td (\(the ) Tj ET Q q 0 0 0 rg BT 361.09 345.05 Td ("2017 ) Tj ET Q q 0 0 0 rg BT 382.51 345.05 Td (T) Tj ET Q q 0 0 0 rg BT 386.84 345.05 Td (erm ) Tj ET Q q 0 0 0 rg BT 401.60 345.05 Td (Loan ) Tj ET Q q 0 0 0 rg BT 419.84 345.05 Td (Agreement"\), ) Tj ET Q q 0 0 0 rg BT 465.46 345.05 Td (T) Tj ET Q q 0 0 0 rg BT 470.07 345.05 Td (ime ) Tj ET Q q 0 0 0 rg BT 484.22 345.05 Td (W) Tj ET Q q 0 0 0 rg BT 491.13 345.05 Td (arner ) Tj ET Q q 0 0 0 rg BT 509.88 345.05 Td (funded ) Tj ET Q q 0 0 0 rg BT 534.41 345.05 Td (the ) Tj ET Q q 0 0 0 rg BT 546.50 345.05 Td (2017 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 335.45 Td (T) Tj ET Q q 0 0 0 rg BT 53.83 335.45 Td (erm ) Tj ET Q q 0 0 0 rg BT 68.17 335.45 Td (Loan ) Tj ET Q q 0 0 0 rg BT 86.50 335.45 Td (\(as ) Tj ET Q q 0 0 0 rg BT 97.73 335.45 Td (defined ) Tj ET Q q 0 0 0 rg BT 123.62 335.45 Td (below\). ) Tj ET Q q 0 0 0 rg BT 149.74 335.45 Td (In ) Tj ET Q q 0 0 0 rg BT 158.30 335.45 Td (addition, ) Tj ET Q q 0 0 0 rg BT 188.42 335.45 Td (at ) Tj ET Q q 0 0 0 rg BT 196.09 335.45 Td (the ) Tj ET Q q 0 0 0 rg BT 207.77 335.45 Td (closing ) Tj ET Q q 0 0 0 rg BT 232.78 335.45 Td (of ) Tj ET Q q 0 0 0 rg BT 241.34 335.45 Td (the ) Tj ET Q q 0 0 0 rg BT 253.02 335.45 Td (Rights ) Tj ET Q q 0 0 0 rg BT 275.81 335.45 Td (Of) Tj ET Q q 0 0 0 rg BT 284.11 335.45 Td (fering, ) Tj ET Q q 0 0 0 rg BT 307.11 335.45 Td (we ) Tj ET Q q 0 0 0 rg BT 318.34 335.45 Td (entered ) Tj ET Q q 0 0 0 rg BT 343.78 335.45 Td (into ) Tj ET Q q 0 0 0 rg BT 358.12 335.45 Td (an ) Tj ET Q q 0 0 0 rg BT 367.57 335.45 Td (agreement ) Tj ET Q q 0 0 0 rg BT 402.79 335.45 Td (with ) Tj ET Q q 0 0 0 rg BT 418.77 335.45 Td (T) Tj ET Q q 0 0 0 rg BT 423.38 335.45 Td (ime ) Tj ET Q q 0 0 0 rg BT 437.14 335.45 Td (W) Tj ET Q q 0 0 0 rg BT 444.05 335.45 Td (arner ) Tj ET Q q 0 0 0 rg BT 462.38 335.45 Td (for ) Tj ET Q q 0 0 0 rg BT 473.61 335.45 Td (a ) Tj ET Q q 0 0 0 rg BT 479.06 335.45 Td (revolving ) Tj ET Q q 0 0 0 rg BT 511.62 335.45 Td (credit ) Tj ET Q q 0 0 0 rg BT 531.73 335.45 Td (facility ) Tj ET Q q 0 0 0 rg BT 556.29 335.45 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 325.85 Td (the ) Tj ET Q q 0 0 0 rg BT 61.80 325.85 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 95.41 325.85 Td (principal ) Tj ET Q q 0 0 0 rg BT 126.37 325.85 Td (amount ) Tj ET Q q 0 0 0 rg BT 152.89 325.85 Td (of ) Tj ET Q q 0 0 0 rg BT 162.08 325.85 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 178.84 325.85 Td (1) Tj ET Q q 0 0 0 rg BT 182.54 325.85 Td (15.0 ) Tj ET Q q 0 0 0 rg BT 199.06 325.85 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 222.18 325.85 Td ( ) Tj ET Q q 0 0 0 rg BT 224.70 325.85 Td (that ) Tj ET Q q 0 0 0 rg BT 239.22 325.85 Td (will ) Tj ET Q q 0 0 0 rg BT 254.20 325.85 Td (mature ) Tj ET Q q 0 0 0 rg BT 278.93 325.85 Td (on ) Tj ET Q q 0 0 0 rg BT 289.46 325.85 Td (December ) Tj ET Q q 0 0 0 rg BT 324.85 325.85 Td (1, ) Tj ET Q q 0 0 0 rg BT 333.38 325.85 Td (2017 ) Tj ET Q q 0 0 0 rg BT 351.90 325.85 Td (\(the ) Tj ET Q q 0 0 0 rg BT 366.86 325.85 Td (2017 ) Tj ET Q q 0 0 0 rg BT 388.94 325.85 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 424.80 325.85 Td (Credit ) Tj ET Q q 0 0 0 rg BT 447.32 325.85 Td (Facility\). ) Tj ET Q q 0 0 0 rg BT 482.50 325.85 Td (In ) Tj ET Q q 0 0 0 rg BT 491.69 325.85 Td (connection ) Tj ET Q q 0 0 0 rg BT 529.31 325.85 Td (with ) Tj ET Q q 0 0 0 rg BT 546.06 325.85 Td (these ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 316.25 Td (transactions, ) Tj ET Q q 0 0 0 rg BT 91.43 316.25 Td (we ) Tj ET Q q 0 0 0 rg BT 102.48 316.25 Td (issued ) Tj ET Q q 0 0 0 rg BT 124.08 316.25 Td (T) Tj ET Q q 0 0 0 rg BT 128.68 316.25 Td (ime ) Tj ET Q q 0 0 0 rg BT 142.27 316.25 Td (W) Tj ET Q q 0 0 0 rg BT 149.18 316.25 Td (arner ) Tj ET Q q 0 0 0 rg BT 167.33 316.25 Td (and ) Tj ET Q q 0 0 0 rg BT 180.48 316.25 Td (TW) Tj ET Q q 0 0 0 rg BT 192.77 316.25 Td ( ) Tj ET Q q 0 0 0 rg BT 194.50 316.25 Td (Investor ) Tj ET Q q 0 0 0 rg BT 222.43 316.25 Td (warrants ) Tj ET Q q 0 0 0 rg BT 251.69 316.25 Td (to ) Tj ET Q q 0 0 0 rg BT 259.64 316.25 Td (purchase ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.79 316.25 Td (30,000,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.79 316.25 Td ( ) Tj ET Q q 0 0 0 rg BT 327.51 316.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 349.22 316.25 Td (of ) Tj ET Q q 0 0 0 rg BT 357.61 316.25 Td (Class ) Tj ET Q q 0 0 0 rg BT 376.28 316.25 Td (A) Tj ET Q q 0 0 0 rg BT 381.62 316.25 Td ( ) Tj ET Q q 0 0 0 rg BT 383.34 316.25 Td (common ) Tj ET Q q 0 0 0 rg BT 413.06 316.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 431.66 316.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 445.82 316.25 Td ("Initial ) Tj ET Q q 0 0 0 rg BT 469.79 316.25 Td (W) Tj ET Q q 0 0 0 rg BT 476.70 316.25 Td (arrants"\) ) Tj ET Q q 0 0 0 rg BT 506.12 316.25 Td (with ) Tj ET Q q 0 0 0 rg BT 522.06 316.25 Td (substantially ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 306.65 Td (the ) Tj ET Q q 0 0 0 rg BT 61.27 306.65 Td (same ) Tj ET Q q 0 0 0 rg BT 79.71 306.65 Td (terms ) Tj ET Q q 0 0 0 rg BT 99.48 306.65 Td (as ) Tj ET Q q 0 0 0 rg BT 108.15 306.65 Td (the ) Tj ET Q q 0 0 0 rg BT 119.92 306.65 Td (Unit ) Tj ET Q q 0 0 0 rg BT 136.00 306.65 Td (W) Tj ET Q q 0 0 0 rg BT 142.91 306.65 Td (arrants.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 291.05 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 291.05 Td (e ) Tj ET Q q 0 0 0 rg BT 61.92 291.05 Td (used ) Tj ET Q q 0 0 0 rg BT 78.53 291.05 Td (the ) Tj ET Q q 0 0 0 rg BT 90.26 291.05 Td (net ) Tj ET Q q 0 0 0 rg BT 101.99 291.05 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 132.37 291.05 Td (of ) Tj ET Q q 0 0 0 rg BT 140.99 291.05 Td (the ) Tj ET Q q 0 0 0 rg BT 152.72 291.05 Td (Rights ) Tj ET Q q 0 0 0 rg BT 175.57 291.05 Td (Of) Tj ET Q q 0 0 0 rg BT 183.86 291.05 Td (fering ) Tj ET Q q 0 0 0 rg BT 204.92 291.05 Td (and ) Tj ET Q q 0 0 0 rg BT 218.42 291.05 Td (related ) Tj ET Q q 0 0 0 rg BT 242.14 291.05 Td (financing ) Tj ET Q q 0 0 0 rg BT 274.30 291.05 Td (transactions ) Tj ET Q q 0 0 0 rg BT 314.47 291.05 Td (and ) Tj ET Q q 0 0 0 rg BT 327.97 291.05 Td (a ) Tj ET Q q 0 0 0 rg BT 333.48 291.05 Td (portion ) Tj ET Q q 0 0 0 rg BT 358.54 291.05 Td (of ) Tj ET Q q 0 0 0 rg BT 367.16 291.05 Td (the ) Tj ET Q q 0 0 0 rg BT 378.89 291.05 Td (2017 ) Tj ET Q q 0 0 0 rg BT 396.70 291.05 Td (T) Tj ET Q q 0 0 0 rg BT 401.03 291.05 Td (erm ) Tj ET Q q 0 0 0 rg BT 415.42 291.05 Td (Loan ) Tj ET Q q 0 0 0 rg BT 433.81 291.05 Td (to ) Tj ET Q q 0 0 0 rg BT 441.99 291.05 Td (dischar) Tj ET Q q 0 0 0 rg BT 464.95 291.05 Td (ge ) Tj ET Q q 0 0 0 rg BT 474.45 291.05 Td (the ) Tj ET Q q 0 0 0 rg BT 486.18 291.05 Td (indenture ) Tj ET Q q 0 0 0 rg BT 518.34 291.05 Td (governing ) Tj ET Q q 0 0 0 rg BT 552.74 291.05 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 281.45 Td (1) Tj ET Q q 0 0 0 rg BT 53.20 281.45 Td (1.625%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 77.87 281.45 Td ( ) Tj ET Q q 0 0 0 rg BT 80.90 281.45 Td (Senior ) Tj ET Q q 0 0 0 rg BT 104.82 281.45 Td (Notes ) Tj ET Q q 0 0 0 rg BT 126.52 281.45 Td (due ) Tj ET Q q 0 0 0 rg BT 141.10 281.45 Td (2016 ) Tj ET Q q 0 0 0 rg BT 160.14 281.45 Td (\(the ) Tj ET Q q 0 0 0 rg BT 175.61 281.45 Td ("2016 ) Tj ET Q q 0 0 0 rg BT 197.91 281.45 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 219.16 281.45 Td (Rate ) Tj ET Q q 0 0 0 rg BT 236.86 281.45 Td (Notes"\) ) Tj ET Q q 0 0 0 rg BT 264.49 281.45 Td (on ) Tj ET Q q 0 0 0 rg BT 275.52 281.45 Td (May ) Tj ET Q q 0 0 0 rg BT 293.22 281.45 Td (2, ) Tj ET Q q 0 0 0 rg BT 302.25 281.45 Td (2014, ) Tj ET Q q 0 0 0 rg BT 323.28 281.45 Td (including ) Tj ET Q q 0 0 0 rg BT 356.54 281.45 Td (the ) Tj ET Q q 0 0 0 rg BT 369.34 281.45 Td (early ) Tj ET Q q 0 0 0 rg BT 388.37 281.45 Td (redemption ) Tj ET Q q 0 0 0 rg BT 427.83 281.45 Td (premium ) Tj ET Q q 0 0 0 rg BT 459.75 281.45 Td (and ) Tj ET Q q 0 0 0 rg BT 474.33 281.45 Td (accrued ) Tj ET Q q 0 0 0 rg BT 502.23 281.45 Td (interest ) Tj ET Q q 0 0 0 rg BT 528.82 281.45 Td (thereon ) Tj ET Q q 0 0 0 rg BT 555.84 281.45 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 271.85 Td (approximately ) Tj ET Q q 0 0 0 rg BT 97.83 271.85 Td (EUR ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 115.96 271.85 Td (15.9 ) Tj ET Q q 0 0 0 rg BT 132.09 271.85 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 155.20 271.85 Td ( ) Tj ET Q q 0 0 0 rg BT 157.33 271.85 Td (\(approximately ) Tj ET Q q 0 0 0 rg BT 208.33 271.85 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 224.68 271.85 Td (22.0 ) Tj ET Q q 0 0 0 rg BT 240.81 271.85 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 263.92 271.85 Td (, ) Tj ET Q q 0 0 0 rg BT 268.05 271.85 Td (at ) Tj ET Q q 0 0 0 rg BT 275.95 271.85 Td (transaction ) Tj ET Q q 0 0 0 rg BT 313.17 271.85 Td (date ) Tj ET Q q 0 0 0 rg BT 328.62 271.85 Td (exchange ) Tj ET Q q 0 0 0 rg BT 360.95 271.85 Td (rates\) ) Tj ET Q q 0 0 0 rg BT 380.85 271.85 Td (and ) Tj ET Q q 0 0 0 rg BT 394.52 271.85 Td (EUR ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.65 271.85 Td (6.7 ) Tj ET Q q 0 0 0 rg BT 424.78 271.85 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.89 271.85 Td ( ) Tj ET Q q 0 0 0 rg BT 450.02 271.85 Td (\(approximately ) Tj ET Q q 0 0 0 rg BT 501.02 271.85 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 517.37 271.85 Td (9.3 ) Tj ET Q q 0 0 0 rg BT 529.50 271.85 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 552.61 271.85 Td (, ) Tj ET Q q 0 0 0 rg BT 556.74 271.85 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 262.25 Td (transaction ) Tj ET Q q 0 0 0 rg BT 86.60 262.25 Td (date ) Tj ET Q q 0 0 0 rg BT 101.92 262.25 Td (exchange ) Tj ET Q q 0 0 0 rg BT 134.13 262.25 Td (rates\), ) Tj ET Q q 0 0 0 rg BT 155.89 262.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 194.02 262.25 Td (. ) Tj ET Q q 0 0 0 rg BT 197.88 262.25 Td (W) Tj ET Q q 0 0 0 rg BT 204.79 262.25 Td (e ) Tj ET Q q 0 0 0 rg BT 210.34 262.25 Td (recognized ) Tj ET Q q 0 0 0 rg BT 247.43 262.25 Td (a ) Tj ET Q q 0 0 0 rg BT 252.98 262.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 267.43 262.25 Td (on ) Tj ET Q q 0 0 0 rg BT 277.43 262.25 Td (extinguishment ) Tj ET Q q 0 0 0 rg BT 328.75 262.25 Td (of ) Tj ET Q q 0 0 0 rg BT 337.42 262.25 Td (the ) Tj ET Q q 0 0 0 rg BT 349.19 262.25 Td (2016 ) Tj ET Q q 0 0 0 rg BT 367.19 262.25 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 387.41 262.25 Td (Rate ) Tj ET Q q 0 0 0 rg BT 404.07 262.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 424.74 262.25 Td (of ) Tj ET Q q 0 0 0 rg BT 433.40 262.25 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.63 262.25 Td (24.2 ) Tj ET Q q 0 0 0 rg BT 465.63 262.25 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.74 262.25 Td ( ) Tj ET Q q 0 0 0 rg BT 490.74 262.25 Td (upon ) Tj ET Q q 0 0 0 rg BT 508.74 262.25 Td (redemption.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 246.65 Td (On ) Tj ET Q q 0 0 0 rg BT 61.15 246.65 Td (November ) Tj ET Q q 0 0 0 rg BT 96.78 246.65 Td (14, ) Tj ET Q q 0 0 0 rg BT 108.65 246.65 Td (2014, ) Tj ET Q q 0 0 0 rg BT 128.52 246.65 Td (we ) Tj ET Q q 0 0 0 rg BT 139.71 246.65 Td (entered ) Tj ET Q q 0 0 0 rg BT 165.12 246.65 Td (into ) Tj ET Q q 0 0 0 rg BT 179.43 246.65 Td (a ) Tj ET Q q 0 0 0 rg BT 184.85 246.65 Td (EUR ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 202.72 246.65 Td (250.8 ) Tj ET Q q 0 0 0 rg BT 222.59 246.65 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.70 246.65 Td ( ) Tj ET Q q 0 0 0 rg BT 247.57 246.65 Td (senior ) Tj ET Q q 0 0 0 rg BT 268.99 246.65 Td (unsecured ) Tj ET Q q 0 0 0 rg BT 303.29 246.65 Td (term ) Tj ET Q q 0 0 0 rg BT 319.81 246.65 Td (credit ) Tj ET Q q 0 0 0 rg BT 339.89 246.65 Td (facility ) Tj ET Q q 0 0 0 rg BT 364.42 246.65 Td (\(the ) Tj ET Q q 0 0 0 rg BT 378.72 246.65 Td ("2017 ) Tj ET Q q 0 0 0 rg BT 399.86 246.65 Td (Euro ) Tj ET Q q 0 0 0 rg BT 417.14 246.65 Td (T) Tj ET Q q 0 0 0 rg BT 421.47 246.65 Td (erm ) Tj ET Q q 0 0 0 rg BT 435.78 246.65 Td (Loan"\) ) Tj ET Q q 0 0 0 rg BT 460.01 246.65 Td (agreement ) Tj ET Q q 0 0 0 rg BT 495.19 246.65 Td (with ) Tj ET Q q 0 0 0 rg BT 511.28 246.65 Td (BNP) Tj ET Q q 0 0 0 rg BT 526.55 246.65 Td ( ) Tj ET Q q 0 0 0 rg BT 528.42 246.65 Td (Paribas, ) Tj ET Q q 0 0 0 rg BT 555.83 246.65 Td (as ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 237.05 Td (administrative ) Tj ET Q q 0 0 0 rg BT 97.70 237.05 Td (agent, ) Tj ET Q q 0 0 0 rg BT 119.28 237.05 Td (T) Tj ET Q q 0 0 0 rg BT 123.88 237.05 Td (ime ) Tj ET Q q 0 0 0 rg BT 138.13 237.05 Td (W) Tj ET Q q 0 0 0 rg BT 145.04 237.05 Td (arner) Tj ET Q q 0 0 0 rg BT 161.15 237.05 Td (, ) Tj ET Q q 0 0 0 rg BT 165.58 237.05 Td (as ) Tj ET Q q 0 0 0 rg BT 174.68 237.05 Td (guarantor) Tj ET Q q 0 0 0 rg BT 205.01 237.05 Td (, ) Tj ET Q q 0 0 0 rg BT 209.44 237.05 Td (and ) Tj ET Q q 0 0 0 rg BT 223.42 237.05 Td (the ) Tj ET Q q 0 0 0 rg BT 235.63 237.05 Td (lenders ) Tj ET Q q 0 0 0 rg BT 261.16 237.05 Td (party ) Tj ET Q q 0 0 0 rg BT 280.03 237.05 Td (thereto; ) Tj ET Q q 0 0 0 rg BT 306.89 237.05 Td (and ) Tj ET Q q 0 0 0 rg BT 320.87 237.05 Td (the ) Tj ET Q q 0 0 0 rg BT 333.08 237.05 Td (2015 ) Tj ET Q q 0 0 0 rg BT 351.51 237.05 Td (Refinancing ) Tj ET Q q 0 0 0 rg BT 393.03 237.05 Td (Commitment ) Tj ET Q q 0 0 0 rg BT 437.69 237.05 Td (Letter ) Tj ET Q q 0 0 0 rg BT 459.22 237.05 Td (with ) Tj ET Q q 0 0 0 rg BT 475.69 237.05 Td (T) Tj ET Q q 0 0 0 rg BT 480.30 237.05 Td (ime ) Tj ET Q q 0 0 0 rg BT 494.55 237.05 Td (W) Tj ET Q q 0 0 0 rg BT 501.46 237.05 Td (arner ) Tj ET Q q 0 0 0 rg BT 520.32 237.05 Td (to ) Tj ET Q q 0 0 0 rg BT 528.97 237.05 Td (provide ) Tj ET Q q 0 0 0 rg BT 555.84 237.05 Td (or ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 227.45 Td (assist ) Tj ET Q q 0 0 0 rg BT 68.84 227.45 Td (with ) Tj ET Q q 0 0 0 rg BT 85.06 227.45 Td (arranging ) Tj ET Q q 0 0 0 rg BT 117.71 227.45 Td (a ) Tj ET Q q 0 0 0 rg BT 123.26 227.45 Td (replacement ) Tj ET Q q 0 0 0 rg BT 164.35 227.45 Td (facility ) Tj ET Q q 0 0 0 rg BT 189.00 227.45 Td (to ) Tj ET Q q 0 0 0 rg BT 197.23 227.45 Td (refinance ) Tj ET Q q 0 0 0 rg BT 228.98 227.45 Td (the ) Tj ET Q q 0 0 0 rg BT 240.75 227.45 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 280.09 227.45 Td (principal ) Tj ET Q q 0 0 0 rg BT 310.52 227.45 Td (amount ) Tj ET Q q 0 0 0 rg BT 336.52 227.45 Td (of ) Tj ET Q q 0 0 0 rg BT 345.18 227.45 Td (2015 ) Tj ET Q q 0 0 0 rg BT 363.18 227.45 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 402.95 227.45 Td (Notes ) Tj ET Q q 0 0 0 rg BT 423.61 227.45 Td (at ) Tj ET Q q 0 0 0 rg BT 431.39 227.45 Td (or ) Tj ET Q q 0 0 0 rg BT 440.05 227.45 Td (immediately ) Tj ET Q q 0 0 0 rg BT 482.04 227.45 Td (prior ) Tj ET Q q 0 0 0 rg BT 499.59 227.45 Td (to ) Tj ET Q q 0 0 0 rg BT 507.81 227.45 Td (their ) Tj ET Q q 0 0 0 rg BT 524.47 227.45 Td (maturity) Tj ET Q q 0 0 0 rg BT 551.06 227.45 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 211.85 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 211.85 Td (e ) Tj ET Q q 0 0 0 rg BT 61.58 211.85 Td (applied ) Tj ET Q q 0 0 0 rg BT 86.74 211.85 Td (the ) Tj ET Q q 0 0 0 rg BT 98.14 211.85 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 128.18 211.85 Td (of ) Tj ET Q q 0 0 0 rg BT 136.47 211.85 Td (the ) Tj ET Q q 0 0 0 rg BT 147.86 211.85 Td (2017 ) Tj ET Q q 0 0 0 rg BT 165.48 211.85 Td (Euro ) Tj ET Q q 0 0 0 rg BT 182.53 211.85 Td (T) Tj ET Q q 0 0 0 rg BT 186.86 211.85 Td (erm ) Tj ET Q q 0 0 0 rg BT 200.91 211.85 Td (Loan ) Tj ET Q q 0 0 0 rg BT 218.97 211.85 Td (to ) Tj ET Q q 0 0 0 rg BT 226.81 211.85 Td (dischar) Tj ET Q q 0 0 0 rg BT 249.77 211.85 Td (ge ) Tj ET Q q 0 0 0 rg BT 258.93 211.85 Td (the ) Tj ET Q q 0 0 0 rg BT 270.33 211.85 Td (indenture ) Tj ET Q q 0 0 0 rg BT 302.15 211.85 Td (governing ) Tj ET Q q 0 0 0 rg BT 336.21 211.85 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 347.60 211.85 Td (9.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 364.27 211.85 Td ( ) Tj ET Q q 0 0 0 rg BT 365.88 211.85 Td (Senior ) Tj ET Q q 0 0 0 rg BT 388.39 211.85 Td (Secured ) Tj ET Q q 0 0 0 rg BT 415.77 211.85 Td (Notes ) Tj ET Q q 0 0 0 rg BT 436.06 211.85 Td (due ) Tj ET Q q 0 0 0 rg BT 449.22 211.85 Td (2017 ) Tj ET Q q 0 0 0 rg BT 466.84 211.85 Td (\(the ) Tj ET Q q 0 0 0 rg BT 480.90 211.85 Td ("2017 ) Tj ET Q q 0 0 0 rg BT 501.78 211.85 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 521.62 211.85 Td (Rate ) Tj ET Q q 0 0 0 rg BT 537.90 211.85 Td (Notes"\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 202.25 Td (including ) Tj ET Q q 0 0 0 rg BT 81.99 202.25 Td (the ) Tj ET Q q 0 0 0 rg BT 94.03 202.25 Td (early ) Tj ET Q q 0 0 0 rg BT 112.29 202.25 Td (redemption ) Tj ET Q q 0 0 0 rg BT 150.99 202.25 Td (premium ) Tj ET Q q 0 0 0 rg BT 182.14 202.25 Td (and ) Tj ET Q q 0 0 0 rg BT 195.96 202.25 Td (accrued ) Tj ET Q q 0 0 0 rg BT 223.09 202.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 248.91 202.25 Td (thereon ) Tj ET Q q 0 0 0 rg BT 275.17 202.25 Td (of ) Tj ET Q q 0 0 0 rg BT 284.10 202.25 Td (approximately ) Tj ET Q q 0 0 0 rg BT 332.58 202.25 Td (EUR ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 350.84 202.25 Td (10.8 ) Tj ET Q q 0 0 0 rg BT 367.11 202.25 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.23 202.25 Td ( ) Tj ET Q q 0 0 0 rg BT 392.49 202.25 Td (\(approximately ) Tj ET Q q 0 0 0 rg BT 443.63 202.25 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.13 202.25 Td (13.4 ) Tj ET Q q 0 0 0 rg BT 476.40 202.25 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.51 202.25 Td (, ) Tj ET Q q 0 0 0 rg BT 503.78 202.25 Td (at ) Tj ET Q q 0 0 0 rg BT 511.82 202.25 Td (transaction ) Tj ET Q q 0 0 0 rg BT 549.19 202.25 Td (date ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 192.65 Td (exchange ) Tj ET Q q 0 0 0 rg BT 81.76 192.65 Td (rates\) ) Tj ET Q q 0 0 0 rg BT 101.58 192.65 Td (and ) Tj ET Q q 0 0 0 rg BT 115.18 192.65 Td (EUR ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 133.23 192.65 Td (2.6 ) Tj ET Q q 0 0 0 rg BT 145.29 192.65 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 168.40 192.65 Td ( ) Tj ET Q q 0 0 0 rg BT 170.46 192.65 Td (\(approximately ) Tj ET Q q 0 0 0 rg BT 221.38 192.65 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 237.66 192.65 Td (3.2 ) Tj ET Q q 0 0 0 rg BT 249.71 192.65 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 272.83 192.65 Td (, ) Tj ET Q q 0 0 0 rg BT 276.88 192.65 Td (at ) Tj ET Q q 0 0 0 rg BT 284.71 192.65 Td (transaction ) Tj ET Q q 0 0 0 rg BT 321.86 192.65 Td (date ) Tj ET Q q 0 0 0 rg BT 337.24 192.65 Td (exchange ) Tj ET Q q 0 0 0 rg BT 369.49 192.65 Td (rates\), ) Tj ET Q q 0 0 0 rg BT 391.31 192.65 Td (respectively) Tj ET Q q 0 0 0 rg BT 429.44 192.65 Td (. ) Tj ET Q q 0 0 0 rg BT 433.35 192.65 Td (W) Tj ET Q q 0 0 0 rg BT 440.26 192.65 Td (e ) Tj ET Q q 0 0 0 rg BT 445.86 192.65 Td (recognized ) Tj ET Q q 0 0 0 rg BT 483.01 192.65 Td (a ) Tj ET Q q 0 0 0 rg BT 488.61 192.65 Td (loss ) Tj ET Q q 0 0 0 rg BT 503.11 192.65 Td (on ) Tj ET Q q 0 0 0 rg BT 513.17 192.65 Td (extinguishment ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 183.05 Td (of ) Tj ET Q q 0 0 0 rg BT 58.16 183.05 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 74.39 183.05 Td (15.0 ) Tj ET Q q 0 0 0 rg BT 90.39 183.05 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 113.50 183.05 Td ( ) Tj ET Q q 0 0 0 rg BT 115.50 183.05 Td (upon ) Tj ET Q q 0 0 0 rg BT 133.50 183.05 Td (redemption ) Tj ET Q q 0 0 0 rg BT 171.94 183.05 Td (of ) Tj ET Q q 0 0 0 rg BT 180.60 183.05 Td (the ) Tj ET Q q 0 0 0 rg BT 192.38 183.05 Td (2017 ) Tj ET Q q 0 0 0 rg BT 210.38 183.05 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 230.60 183.05 Td (Rate ) Tj ET Q q 0 0 0 rg BT 247.26 183.05 Td (Notes.) Tj ET Q endstream endobj 123 0 obj <>] /Rotate 0 /Contents 124 0 R>> endobj 124 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) 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Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 481.40 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 60.83 481.40 Td ( ) Tj ET Q q 0 0 0 rg BT 63.00 481.40 Td (The ) Tj ET Q q 0 0 0 rg BT 78.00 481.40 Td (equity ) Tj ET Q q 0 0 0 rg BT 100.55 481.40 Td (component ) Tj ET Q q 0 0 0 rg BT 138.66 481.40 Td (of ) Tj ET Q q 0 0 0 rg BT 147.89 481.40 Td (the ) Tj ET Q q 0 0 0 rg BT 160.22 481.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 178.60 481.40 Td (T) Tj ET Q q 0 0 0 rg BT 182.92 481.40 Td (erm ) Tj ET Q q 0 0 0 rg BT 197.92 481.40 Td (Loan ) Tj ET Q q 0 0 0 rg BT 216.92 481.40 Td (and ) Tj ET Q q 0 0 0 rg BT 231.03 481.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 249.59 481.40 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 285.48 481.40 Td (Credit ) Tj ET Q q 0 0 0 rg BT 308.04 481.40 Td (Facility ) Tj ET Q q 0 0 0 rg BT 335.04 481.40 Td (represents ) Tj ET Q q 0 0 0 rg BT 370.03 481.40 Td (the ) Tj ET Q q 0 0 0 rg BT 382.37 481.40 Td (fair ) Tj ET Q q 0 0 0 rg BT 396.03 481.40 Td (value ) Tj ET Q q 0 0 0 rg BT 415.91 481.40 Td (ascribed ) Tj ET Q q 0 0 0 rg BT 445.13 481.40 Td (to ) Tj ET Q q 0 0 0 rg BT 453.91 481.40 Td (the ) Tj ET Q q 0 0 0 rg BT 466.24 481.40 Td (Initial ) Tj ET Q q 0 0 0 rg BT 487.73 481.40 Td (W) Tj ET Q q 0 0 0 rg BT 494.64 481.40 Td (arrants ) Tj ET Q q 0 0 0 rg BT 518.96 481.40 Td (\(see ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.40 481.40 Td (Note ) Tj ET Q q 0 0 0 rg BT 552.51 481.40 Td (13, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.00 471.80 Td ("Equity") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 90.86 471.80 Td (\) ) Tj ET Q q 0 0 0 rg BT 95.85 471.80 Td (issued ) Tj ET Q q 0 0 0 rg BT 118.17 471.80 Td (in ) Tj ET Q q 0 0 0 rg BT 126.72 471.80 Td (consideration ) Tj ET Q q 0 0 0 rg BT 172.14 471.80 Td (for ) Tj ET Q q 0 0 0 rg BT 183.79 471.80 Td (these ) Tj ET Q q 0 0 0 rg BT 202.55 471.80 Td (facilities ) Tj ET Q q 0 0 0 rg BT 232.41 471.80 Td (based ) Tj ET Q q 0 0 0 rg BT 252.95 471.80 Td (on ) Tj ET Q q 0 0 0 rg BT 263.27 471.80 Td (their ) Tj ET Q q 0 0 0 rg BT 280.25 471.80 Td (relative ) Tj ET Q q 0 0 0 rg BT 306.56 471.80 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 342.21 471.80 Td (capacities. ) Tj ET Q q 0 0 0 rg BT 377.90 471.80 Td (The ) Tj ET Q q 0 0 0 rg BT 392.66 471.80 Td (fair ) Tj ET Q q 0 0 0 rg BT 406.08 471.80 Td (value ) Tj ET Q q 0 0 0 rg BT 425.73 471.80 Td (is ) Tj ET Q q 0 0 0 rg BT 433.39 471.80 Td (accounted ) Tj ET Q q 0 0 0 rg BT 468.14 471.80 Td (for ) Tj ET Q q 0 0 0 rg BT 479.79 471.80 Td (as ) Tj ET Q q 0 0 0 rg BT 488.77 471.80 Td (a ) Tj ET Q q 0 0 0 rg BT 494.65 471.80 Td (discount ) Tj ET Q q 0 0 0 rg BT 524.08 471.80 Td (on ) Tj ET Q q 0 0 0 rg BT 534.40 471.80 Td (the ) Tj ET Q q 0 0 0 rg BT 546.50 471.80 Td (2017 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.00 462.20 Td (T) Tj ET Q q 0 0 0 rg BT 67.33 462.20 Td (erm ) Tj ET Q q 0 0 0 rg BT 81.29 462.20 Td (Loan, ) Tj ET Q q 0 0 0 rg BT 101.26 462.20 Td (which ) Tj ET Q q 0 0 0 rg BT 122.34 462.20 Td (is ) Tj ET Q q 0 0 0 rg BT 129.20 462.20 Td (being ) Tj ET Q q 0 0 0 rg BT 148.50 462.20 Td (amortized ) Tj ET Q q 0 0 0 rg BT 182.01 462.20 Td (over ) Tj ET Q q 0 0 0 rg BT 197.75 462.20 Td (the ) Tj ET Q q 0 0 0 rg BT 209.05 462.20 Td (life ) Tj ET Q q 0 0 0 rg BT 221.24 462.20 Td (of ) Tj ET Q q 0 0 0 rg BT 229.43 462.20 Td (the ) Tj ET Q q 0 0 0 rg BT 240.73 462.20 Td (2017 ) Tj ET Q q 0 0 0 rg BT 258.15 462.20 Td (T) Tj ET Q q 0 0 0 rg BT 262.48 462.20 Td (erm ) Tj ET Q q 0 0 0 rg BT 276.44 462.20 Td (Loan ) Tj ET Q q 0 0 0 rg BT 294.41 462.20 Td (using ) Tj ET Q q 0 0 0 rg BT 313.27 462.20 Td (the ) Tj ET Q q 0 0 0 rg BT 324.57 462.20 Td (ef) Tj ET Q q 0 0 0 rg BT 330.64 462.20 Td (fective ) Tj ET Q q 0 0 0 rg BT 353.93 462.20 Td (interest ) Tj ET Q q 0 0 0 rg BT 379.01 462.20 Td (method; 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Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 440.00 Td (\(4\) ) Tj ET Q q 0 0 0 rg BT 63.00 440.00 Td (The ) Tj ET Q q 0 0 0 rg BT 77.82 440.00 Td (unamortized ) Tj ET Q q 0 0 0 rg BT 120.19 440.00 Td (discount ) Tj ET Q q 0 0 0 rg BT 149.68 440.00 Td (on ) Tj ET Q q 0 0 0 rg BT 160.06 440.00 Td (the ) Tj ET Q q 0 0 0 rg BT 172.21 440.00 Td (other ) Tj ET Q q 0 0 0 rg BT 191.03 440.00 Td (credit ) Tj ET Q q 0 0 0 rg BT 211.63 440.00 Td (facilities ) Tj ET Q q 0 0 0 rg BT 241.55 440.00 Td (represents ) Tj ET Q q 0 0 0 rg BT 276.36 440.00 Td (the ) Tj ET Q q 0 0 0 rg BT 288.52 440.00 Td (fair ) Tj ET Q q 0 0 0 rg BT 302.00 440.00 Td (value ) Tj ET Q q 0 0 0 rg BT 321.71 440.00 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 359.19 440.00 Td (recorded ) Tj ET Q q 0 0 0 rg BT 389.56 440.00 Td (on ) Tj ET Q q 0 0 0 rg BT 399.94 440.00 Td (issuance ) Tj ET Q q 0 0 0 rg BT 429.42 440.00 Td (of ) Tj ET Q q 0 0 0 rg BT 438.47 440.00 Td (the ) Tj ET Q q 0 0 0 rg BT 450.62 440.00 Td (CNC ) Tj ET Q q 0 0 0 rg BT 469.45 440.00 Td (loans ) Tj ET Q q 0 0 0 rg BT 488.72 440.00 Td (\(as ) Tj ET Q q 0 0 0 rg BT 500.43 440.00 Td (defined ) Tj ET Q q 0 0 0 rg BT 526.80 440.00 Td (and ) Tj ET Q q 0 0 0 rg BT 540.74 440.00 Td (further ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.00 430.40 Td (described ) Tj ET Q q 0 0 0 rg BT 95.65 430.40 Td (in ) Tj ET Q q 0 0 0 rg BT 103.88 430.40 Td (item ) Tj ET Q q 0 0 0 rg BT 120.09 430.40 Td (\(c\) ) Tj ET Q q 0 0 0 rg BT 130.97 430.40 Td (under ) Tj ET Q q 0 0 0 rg BT 151.19 430.40 Td (the ) Tj ET Q q 0 0 0 rg BT 162.96 430.40 Td (heading ) Tj ET Q q 0 0 0 rg BT 190.29 430.40 Td ('Other ) Tj ET Q q 0 0 0 rg BT 211.94 430.40 Td (Credit ) Tj ET Q q 0 0 0 rg BT 233.94 430.40 Td (Facilities ) Tj ET Q q 0 0 0 rg BT 265.27 430.40 Td (and ) Tj ET Q q 0 0 0 rg BT 278.82 430.40 Td (Capital ) Tj ET Q q 0 0 0 rg BT 303.92 430.40 Td (Lease ) Tj ET Q q 0 0 0 rg BT 324.57 430.40 Td (Obligations' ) Tj ET Q q 0 0 0 rg BT 365.35 430.40 Td (below\).) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 411.80 Td (Senior) Tj ET Q q 0 0 0 rg BT 71.58 411.80 Td ( ) Tj ET Q q 0 0 0 rg BT 73.58 411.80 Td (Debt ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 396.20 Td (Our ) Tj ET Q q 0 0 0 rg BT 63.94 396.20 Td (senior ) Tj ET Q q 0 0 0 rg BT 85.49 396.20 Td (debt ) Tj ET Q q 0 0 0 rg BT 101.27 396.20 Td (comprised ) Tj ET Q q 0 0 0 rg BT 136.59 396.20 Td (the ) Tj ET Q q 0 0 0 rg BT 148.36 396.20 Td (following ) Tj ET Q q 0 0 0 rg BT 181.47 396.20 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 189.25 396.20 Td (December31, ) Tj ET Q q 0 0 0 rg BT 236.11 396.20 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 252.11 396.20 Td ( ) Tj ET Q q 0 0 0 rg BT 254.11 396.20 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.66 396.20 Td (December31, ) Tj ET Q q 0 0 0 rg BT 314.53 396.20 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.53 396.20 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 356.70 205.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 356.70 74.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.00 356.70 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.00 356.70 74.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.00 356.70 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 356.70 74.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 356.70 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 356.70 74.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 330.70 205.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 330.70 74.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.00 330.70 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.00 330.70 74.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.00 330.70 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 330.70 74.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 330.70 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 330.70 74.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 304.70 205.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 304.70 74.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.00 304.70 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.00 304.70 74.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.00 304.70 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 304.70 74.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 304.70 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 304.70 74.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 278.70 205.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 278.70 74.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.00 278.70 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.00 278.70 74.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.00 278.70 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 278.70 74.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 278.70 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 278.70 74.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 254 369.70000000000005 m 328 369.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 328 369.70000000000005 m 332 369.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 332 369.70000000000005 m 406 369.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 410 369.70000000000005 m 484 369.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 484 369.70000000000005 m 488 369.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 488 369.70000000000005 m 562 369.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 254 356.70000000000005 m 328 356.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 332 356.70000000000005 m 406 356.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 410 356.70000000000005 m 484 356.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 488 369.70000000000005 m 562 369.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 488 356.70000000000005 m 562 356.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 254 356.70000000000005 m 328 356.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 332 356.70000000000005 m 406 356.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 410 356.70000000000005 m 484 356.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 488 356.70000000000005 m 562 356.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254 265.70000000000005 m 328 265.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332 265.70000000000005 m 406 265.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 265.70000000000005 m 484 265.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 265.70000000000005 m 562 265.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254 265.70000000000005 m 328 265.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254 253.70000000000005 m 328 253.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254 251.70000000000005 m 328 251.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332 265.70000000000005 m 406 265.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332 253.70000000000005 m 406 253.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332 251.70000000000005 m 406 251.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 265.70000000000005 m 484 265.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 253.70000000000005 m 484 253.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 251.70000000000005 m 484 251.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 265.70000000000005 m 562 265.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 253.70000000000005 m 562 253.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 251.70000000000005 m 562 251.70000000000005 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 373.95 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 298.90 373.93 Td (Carrying Amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.65 373.93 Td (Fair Value) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 360.95 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 260.00 360.93 Td (December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.00 360.93 Td (December 31, 2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 416.00 360.93 Td (December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.00 360.93 Td (December 31, 2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 347.95 Td (2015 ) Tj ET Q q 0 0 0 rg BT 69.50 347.95 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 109.27 347.95 Td (Notes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 256.50 347.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.80 347.95 Td (251,669) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 334.50 347.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.80 347.95 Td (241,193) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.50 347.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 454.80 347.95 Td (260,922) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.50 347.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 347.95 Td (237,011) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 334.95 Td (2016 ) Tj ET Q q 0 0 0 rg BT 69.50 334.95 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 89.72 334.95 Td (Rate ) Tj ET Q q 0 0 0 rg BT 106.38 334.95 Td (Notes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 316.80 334.95 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.80 334.95 Td (379,182) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.80 334.95 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 334.95 Td (374,573) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 321.95 Td (2017 ) Tj ET Q q 0 0 0 rg BT 69.50 321.95 Td (Fixed ) Tj ET Q q 0 0 0 rg BT 89.72 321.95 Td (Rate ) Tj ET Q q 0 0 0 rg BT 106.38 321.95 Td (Notes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 316.80 321.95 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.80 321.95 Td (336,581) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.80 321.95 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 321.95 Td (344,223) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 308.95 Td (2017 ) Tj ET Q q 0 0 0 rg BT 69.50 308.95 Td (PIK ) Tj ET Q q 0 0 0 rg BT 84.39 308.95 Td (Notes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.80 308.95 Td (265,629) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.80 308.95 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 454.80 308.95 Td (476,957) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 308.95 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 295.95 Td (2017 ) Tj ET Q q 0 0 0 rg BT 69.43 295.95 Td (T) Tj ET Q q 0 0 0 rg BT 73.96 295.95 Td (erm ) Tj ET Q q 0 0 0 rg BT 88.12 295.95 Td (Loan) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.80 295.95 Td (20,573) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.80 295.95 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.80 295.95 Td (35,923) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 295.95 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 282.95 Td (2017 ) Tj ET Q q 0 0 0 rg BT 69.50 282.95 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 104.83 282.95 Td (Credit ) Tj ET Q q 0 0 0 rg BT 126.83 282.95 Td (Facility) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.80 282.95 Td (25,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.80 282.95 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.80 282.95 Td (25,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 282.95 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 269.95 Td (2017 ) Tj ET Q q 0 0 0 rg BT 69.50 269.95 Td (Euro ) Tj ET Q q 0 0 0 rg BT 86.91 269.95 Td (T) Tj ET Q q 0 0 0 rg BT 91.23 269.95 Td (erm ) Tj ET Q q 0 0 0 rg BT 105.67 269.95 Td (Loan) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.80 269.95 Td (304,496) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.80 269.95 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 454.80 269.95 Td (304,496) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 269.95 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 256.95 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 256.50 256.93 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 298.80 256.93 Td (867,367) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 334.50 256.93 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.80 256.93 Td (956,956) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 412.50 256.93 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 448.80 256.93 Td (1,103,298) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.50 256.93 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.80 256.93 Td (955,807) Tj ET Q BT /F1 8.00 Tf ET BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 234.60 Td (2015 ) Tj ET Q q 0 0 0 rg BT 67.50 234.60 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 107.27 234.60 Td (Notes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 219.00 Td (As ) Tj ET Q q 0 0 0 rg BT 60.90 219.00 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 69.19 219.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 116.56 219.00 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 132.56 219.00 Td (, ) Tj ET Q q 0 0 0 rg BT 137.07 219.00 Td (the ) Tj ET Q q 0 0 0 rg BT 149.36 219.00 Td (principal ) Tj ET Q q 0 0 0 rg BT 180.30 219.00 Td (amount ) Tj ET Q q 0 0 0 rg BT 206.81 219.00 Td (of ) Tj ET Q q 0 0 0 rg BT 215.98 219.00 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 229.16 219.00 Td (5.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.82 219.00 Td ( ) Tj ET Q q 0 0 0 rg BT 248.33 219.00 Td (Senior ) Tj ET Q q 0 0 0 rg BT 271.73 219.00 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 312.01 219.00 Td (Notes ) Tj ET Q q 0 0 0 rg BT 333.19 219.00 Td (due ) Tj ET Q q 0 0 0 rg BT 347.25 219.00 Td (2015 ) Tj ET Q q 0 0 0 rg BT 365.76 219.00 Td (\(the ) Tj ET Q q 0 0 0 rg BT 380.71 219.00 Td ("2015 ) Tj ET Q q 0 0 0 rg BT 402.48 219.00 Td (Convertibles ) Tj ET Q q 0 0 0 rg BT 445.88 219.00 Td (Notes"\) ) Tj ET Q q 0 0 0 rg BT 472.98 219.00 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 512.82 219.00 Td (was ) Tj ET Q q 0 0 0 rg BT 527.78 219.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.51 219.00 Td (261.0 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 209.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 72.61 209.40 Td (. ) Tj ET Q q 0 0 0 rg BT 76.21 209.40 Td (The ) Tj ET Q q 0 0 0 rg BT 90.37 209.40 Td (2015 ) Tj ET Q q 0 0 0 rg BT 108.10 209.40 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 147.59 209.40 Td (Notes ) Tj ET Q q 0 0 0 rg BT 167.98 209.40 Td (mature ) Tj ET Q q 0 0 0 rg BT 191.91 209.40 Td (on ) Tj ET Q q 0 0 0 rg BT 201.64 209.40 Td (November ) Tj ET Q q 0 0 0 rg BT 237.13 209.40 Td (15, ) Tj ET Q q 0 0 0 rg BT 248.85 209.40 Td (2015. ) Tj ET Q q 0 0 0 rg BT 268.45 209.40 Td (W) Tj ET Q q 0 0 0 rg BT 275.36 209.40 Td (e ) Tj ET Q q 0 0 0 rg BT 280.63 209.40 Td (intend ) Tj ET Q q 0 0 0 rg BT 302.35 209.40 Td (to ) Tj ET Q q 0 0 0 rg BT 310.30 209.40 Td (repay ) Tj ET Q q 0 0 0 rg BT 329.79 209.40 Td (the ) Tj ET Q q 0 0 0 rg BT 341.29 209.40 Td (2015 ) Tj ET Q q 0 0 0 rg BT 359.01 209.40 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 398.50 209.40 Td (Notes ) Tj ET Q q 0 0 0 rg BT 418.89 209.40 Td (with ) Tj ET Q q 0 0 0 rg BT 434.84 209.40 Td (the ) Tj ET Q q 0 0 0 rg BT 446.33 209.40 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 476.49 209.40 Td (from ) Tj ET Q q 0 0 0 rg BT 493.76 209.40 Td (a ) Tj ET Q q 0 0 0 rg BT 499.04 209.40 Td (replacement ) Tj ET Q q 0 0 0 rg BT 539.84 209.40 Td (facility ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 199.80 Td (arranged ) Tj ET Q q 0 0 0 rg BT 79.84 199.80 Td (with ) Tj ET Q q 0 0 0 rg BT 96.41 199.80 Td (the ) Tj ET Q q 0 0 0 rg BT 108.54 199.80 Td (assistance ) Tj ET Q q 0 0 0 rg BT 142.89 199.80 Td (of ) Tj ET Q q 0 0 0 rg BT 151.91 199.80 Td (or ) Tj ET Q q 0 0 0 rg BT 160.93 199.80 Td (provided ) Tj ET Q q 0 0 0 rg BT 191.72 199.80 Td (by ) Tj ET Q q 0 0 0 rg BT 201.90 199.80 Td (T) Tj ET Q q 0 0 0 rg BT 206.51 199.80 Td (ime ) Tj ET Q q 0 0 0 rg BT 220.69 199.80 Td (W) Tj ET Q q 0 0 0 rg BT 227.60 199.80 Td (arner ) Tj ET Q q 0 0 0 rg BT 246.39 199.80 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 276.29 199.80 Td (to ) Tj ET Q q 0 0 0 rg BT 284.87 199.80 Td (the ) Tj ET Q q 0 0 0 rg BT 297.00 199.80 Td (2015 ) Tj ET Q q 0 0 0 rg BT 315.35 199.80 Td (Refinancing ) Tj ET Q q 0 0 0 rg BT 356.81 199.80 Td (Commitment ) Tj ET Q q 0 0 0 rg BT 401.39 199.80 Td (Letter) Tj ET Q q 0 0 0 rg BT 420.04 199.80 Td (. ) Tj ET Q q 0 0 0 rg BT 424.23 199.80 Td (The ) Tj ET Q q 0 0 0 rg BT 439.02 199.80 Td (2015 ) Tj ET Q q 0 0 0 rg BT 457.38 199.80 Td (Refinancing ) Tj ET Q q 0 0 0 rg BT 498.83 199.80 Td (Commitment ) Tj ET Q q 0 0 0 rg BT 543.41 199.80 Td (Letter ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 190.20 Td (contains ) Tj ET Q q 0 0 0 rg BT 78.29 190.20 Td (customary ) Tj ET Q q 0 0 0 rg BT 113.73 190.20 Td (closing ) Tj ET Q q 0 0 0 rg BT 138.97 190.20 Td (conditions ) Tj ET Q q 0 0 0 rg BT 174.43 190.20 Td (\(including ) Tj ET Q q 0 0 0 rg BT 209.43 190.20 Td (the ) Tj ET Q q 0 0 0 rg BT 221.33 190.20 Td (execution ) Tj ET Q q 0 0 0 rg BT 254.55 190.20 Td (and ) Tj ET Q q 0 0 0 rg BT 268.23 190.20 Td (delivery ) Tj ET Q q 0 0 0 rg BT 296.57 190.20 Td (of ) Tj ET Q q 0 0 0 rg BT 305.36 190.20 Td (documentation, ) Tj ET Q q 0 0 0 rg BT 357.02 190.20 Td (the ) Tj ET Q q 0 0 0 rg BT 368.92 190.20 Td (accuracy ) Tj ET Q q 0 0 0 rg BT 399.46 190.20 Td (of ) Tj ET Q q 0 0 0 rg BT 408.25 190.20 Td (representations, ) Tj ET Q q 0 0 0 rg BT 460.80 190.20 Td (the ) Tj ET Q q 0 0 0 rg BT 472.70 190.20 Td (absence ) Tj ET Q q 0 0 0 rg BT 500.14 190.20 Td (of ) Tj ET Q q 0 0 0 rg BT 508.93 190.20 Td (events ) Tj ET Q q 0 0 0 rg BT 531.50 190.20 Td (of ) Tj ET Q q 0 0 0 rg BT 540.29 190.20 Td (default ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 180.60 Td (and ) Tj ET Q q 0 0 0 rg BT 63.05 180.60 Td (the ) Tj ET Q q 0 0 0 rg BT 74.82 180.60 Td (absence ) Tj ET Q q 0 0 0 rg BT 102.14 180.60 Td (of ) Tj ET Q q 0 0 0 rg BT 110.80 180.60 Td (material ) Tj ET Q q 0 0 0 rg BT 139.01 180.60 Td (adverse ) Tj ET Q q 0 0 0 rg BT 165.44 180.60 Td (changes\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 165.00 Td (Interest ) Tj ET Q q 0 0 0 rg BT 76.03 165.00 Td (is ) Tj ET Q q 0 0 0 rg BT 83.90 165.00 Td (payable ) Tj ET Q q 0 0 0 rg BT 111.32 165.00 Td (semi-annually ) Tj ET Q q 0 0 0 rg BT 159.18 165.00 Td (in ) Tj ET Q q 0 0 0 rg BT 167.94 165.00 Td (arrears ) Tj ET Q q 0 0 0 rg BT 192.23 165.00 Td (on ) Tj ET Q q 0 0 0 rg BT 202.77 165.00 Td (each ) Tj ET Q q 0 0 0 rg BT 219.96 165.00 Td (May ) Tj ET Q q 0 0 0 rg BT 237.17 165.00 Td (15 ) Tj ET Q q 0 0 0 rg BT 247.71 165.00 Td (and ) Tj ET Q q 0 0 0 rg BT 261.80 165.00 Td (November ) Tj ET Q q 0 0 0 rg BT 298.10 165.00 Td (15. ) Tj ET Q q 0 0 0 rg BT 310.46 165.00 Td (The ) Tj ET Q q 0 0 0 rg BT 325.43 165.00 Td (fair ) Tj ET Q q 0 0 0 rg BT 339.07 165.00 Td (value ) Tj ET Q q 0 0 0 rg BT 358.94 165.00 Td (of ) Tj ET Q q 0 0 0 rg BT 368.14 165.00 Td (the ) Tj ET Q q 0 0 0 rg BT 380.45 165.00 Td (liability ) Tj ET Q q 0 0 0 rg BT 407.88 165.00 Td (component ) Tj ET Q q 0 0 0 rg BT 445.96 165.00 Td (of ) Tj ET Q q 0 0 0 rg BT 455.17 165.00 Td (the ) Tj ET Q q 0 0 0 rg BT 467.48 165.00 Td (2015 ) Tj ET Q q 0 0 0 rg BT 486.02 165.00 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 526.33 165.00 Td (Notes ) Tj ET Q q 0 0 0 rg BT 547.53 165.00 Td (as ) Tj ET Q q 0 0 0 rg BT 556.73 165.00 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 155.40 Td (December31, ) Tj ET Q q 0 0 0 rg BT 96.06 155.40 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 112.06 155.40 Td ( ) Tj ET Q q 0 0 0 rg BT 113.76 155.40 Td (of ) Tj ET Q q 0 0 0 rg BT 122.12 155.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 138.05 155.40 Td (260.9 ) Tj ET Q q 0 0 0 rg BT 157.74 155.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 180.86 155.40 Td ( ) Tj ET Q q 0 0 0 rg BT 182.55 155.40 Td (\() Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 185.22 155.40 Td (December31, ) Tj ET Q q 0 0 0 rg BT 231.78 155.40 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 247.78 155.40 Td (: ) Tj ET Q q 0 0 0 rg BT 251.70 155.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.63 155.40 Td (237.0 ) Tj ET Q q 0 0 0 rg BT 287.32 155.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 310.44 155.40 Td (\) ) Tj ET Q q 0 0 0 rg BT 314.80 155.40 Td (was ) Tj ET Q q 0 0 0 rg BT 328.94 155.40 Td (calculated ) Tj ET Q q 0 0 0 rg BT 363.06 155.40 Td (by ) Tj ET Q q 0 0 0 rg BT 372.75 155.40 Td (multiplying ) Tj ET Q q 0 0 0 rg BT 411.79 155.40 Td (the ) Tj ET Q q 0 0 0 rg BT 423.26 155.40 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 462.29 155.40 Td (debt ) Tj ET Q q 0 0 0 rg BT 477.76 155.40 Td (by ) Tj ET Q q 0 0 0 rg BT 487.46 155.40 Td (the ) Tj ET Q q 0 0 0 rg BT 498.93 155.40 Td (traded ) Tj ET Q q 0 0 0 rg BT 520.61 155.40 Td (market ) Tj ET Q q 0 0 0 rg BT 544.52 155.40 Td (price. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 145.80 Td (This ) Tj ET Q q 0 0 0 rg BT 65.72 145.80 Td (measurement ) Tj ET Q q 0 0 0 rg BT 110.37 145.80 Td (of ) Tj ET Q q 0 0 0 rg BT 119.04 145.80 Td (estimated ) Tj ET Q q 0 0 0 rg BT 151.69 145.80 Td (fair ) Tj ET Q q 0 0 0 rg BT 164.79 145.80 Td (value ) Tj ET Q q 0 0 0 rg BT 184.12 145.80 Td (uses ) Tj ET Q q 0 0 0 rg BT 199.89 145.80 Td (Level ) Tj ET Q q 0 0 0 rg BT 220.11 145.80 Td (2 ) Tj ET Q q 0 0 0 rg BT 226.11 145.80 Td (inputs ) Tj ET Q q 0 0 0 rg BT 247.66 145.80 Td (as ) Tj ET Q q 0 0 0 rg BT 256.33 145.80 Td (described ) Tj ET Q q 0 0 0 rg BT 288.98 145.80 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 297.20 145.80 Td (Note ) Tj ET Q q 0 0 0 rg BT 314.75 145.80 Td (14, ) Tj ET Q q 0 0 0 rg BT 326.75 145.80 Td ("Financial ) Tj ET Q q 0 0 0 rg BT 361.79 145.80 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 401.56 145.80 Td (and ) Tj ET Q q 0 0 0 rg BT 415.11 145.80 Td (Fair ) Tj ET Q q 0 0 0 rg BT 429.86 145.80 Td (V) Tj ET Q q 0 0 0 rg BT 434.75 145.80 Td (alue ) Tj ET Q q 0 0 0 rg BT 450.07 145.80 Td (Measurements") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.99 145.80 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 130.20 Td (The ) Tj ET Q q 0 0 0 rg BT 64.08 130.20 Td (2015 ) Tj ET Q q 0 0 0 rg BT 82.22 130.20 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 122.13 130.20 Td (Notes ) Tj ET Q q 0 0 0 rg BT 142.93 130.20 Td (are ) Tj ET Q q 0 0 0 rg BT 154.83 130.20 Td (secured ) Tj ET Q q 0 0 0 rg BT 181.40 130.20 Td (senior ) Tj ET Q q 0 0 0 rg BT 203.09 130.20 Td (obligations ) Tj ET Q q 0 0 0 rg BT 240.79 130.20 Td (and ) Tj ET Q q 0 0 0 rg BT 254.48 130.20 Td (rank ) Tj ET Q q 0 0 0 rg BT 270.83 130.20 Td (pari ) Tj ET Q q 0 0 0 rg BT 285.41 130.20 Td (passu ) Tj ET Q q 0 0 0 rg BT 305.33 130.20 Td (with ) Tj ET Q q 0 0 0 rg BT 321.69 130.20 Td (all ) Tj ET Q q 0 0 0 rg BT 331.83 130.20 Td (existing ) Tj ET Q q 0 0 0 rg BT 359.30 130.20 Td (and ) Tj ET Q q 0 0 0 rg BT 372.99 130.20 Td (future ) Tj ET Q q 0 0 0 rg BT 394.23 130.20 Td (senior ) Tj ET Q q 0 0 0 rg BT 415.92 130.20 Td (indebtedness ) Tj ET Q q 0 0 0 rg BT 459.38 130.20 Td (and ) Tj ET Q q 0 0 0 rg BT 473.07 130.20 Td (are ) Tj ET Q q 0 0 0 rg BT 484.98 130.20 Td (ef) Tj ET Q q 0 0 0 rg BT 491.05 130.20 Td (fectively ) Tj ET Q q 0 0 0 rg BT 521.17 130.20 Td (subordinated ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 120.60 Td (to ) Tj ET Q q 0 0 0 rg BT 58.02 120.60 Td (all ) Tj ET Q q 0 0 0 rg BT 68.31 120.60 Td (existing ) Tj ET Q q 0 0 0 rg BT 95.93 120.60 Td (and ) Tj ET Q q 0 0 0 rg BT 109.78 120.60 Td (future ) Tj ET Q q 0 0 0 rg BT 131.17 120.60 Td (indebtedness ) Tj ET Q q 0 0 0 rg BT 174.79 120.60 Td (of ) Tj ET Q q 0 0 0 rg BT 183.75 120.60 Td (our ) Tj ET Q q 0 0 0 rg BT 196.71 120.60 Td (subsidiaries. ) Tj ET Q q 0 0 0 rg BT 238.61 120.60 Td (The ) Tj ET Q q 0 0 0 rg BT 253.34 120.60 Td (amounts ) Tj ET Q q 0 0 0 rg BT 282.74 120.60 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 322.37 120.60 Td (are ) Tj ET Q q 0 0 0 rg BT 334.43 120.60 Td (guaranteed ) Tj ET Q q 0 0 0 rg BT 371.81 120.60 Td (by ) Tj ET Q q 0 0 0 rg BT 382.11 120.60 Td (our ) Tj ET Q q 0 0 0 rg BT 395.06 120.60 Td (wholly ) Tj ET Q q 0 0 0 rg BT 419.58 120.60 Td (owned ) Tj ET Q q 0 0 0 rg BT 443.20 120.60 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 483.27 120.60 Td (Central ) Tj ET Q q 0 0 0 rg BT 509.11 120.60 Td (European ) Tj ET Q q 0 0 0 rg BT 542.06 120.60 Td (Media ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 111.00 Td (Enterprises ) Tj ET Q q 0 0 0 rg BT 87.49 111.00 Td (N.V) Tj ET Q q 0 0 0 rg BT 100.01 111.00 Td (. ) Tj ET Q q 0 0 0 rg BT 104.01 111.00 Td (\(CME ) Tj ET Q q 0 0 0 rg BT 129.56 111.00 Td (NV\) ) Tj ET Q q 0 0 0 rg BT 149.33 111.00 Td (and ) Tj ET Q q 0 0 0 rg BT 162.88 111.00 Td (CME ) Tj ET Q q 0 0 0 rg BT 182.22 111.00 Td (Media ) Tj ET Q q 0 0 0 rg BT 204.66 111.00 Td (Enterprises ) Tj ET Q q 0 0 0 rg BT 242.64 111.00 Td (B.V) Tj ET Q q 0 0 0 rg BT 254.73 111.00 Td (. ) Tj ET Q q 0 0 0 rg BT 258.73 111.00 Td (\("CME ) Tj ET Q q 0 0 0 rg BT 283.99 111.00 Td (BV"\) ) Tj ET Q q 0 0 0 rg BT 303.04 111.00 Td (and ) Tj ET Q q 0 0 0 rg BT 316.59 111.00 Td (are ) Tj ET Q q 0 0 0 rg BT 328.35 111.00 Td (secured ) Tj ET Q q 0 0 0 rg BT 354.78 111.00 Td (by ) Tj ET Q q 0 0 0 rg BT 364.78 111.00 Td (a ) Tj ET Q q 0 0 0 rg BT 370.33 111.00 Td (pledge ) Tj ET Q q 0 0 0 rg BT 393.66 111.00 Td (of ) Tj ET Q q 0 0 0 rg BT 402.32 111.00 Td (shares ) Tj ET Q q 0 0 0 rg BT 424.31 111.00 Td (of ) Tj ET Q q 0 0 0 rg BT 432.98 111.00 Td (those ) Tj ET Q q 0 0 0 rg BT 451.86 111.00 Td (companies.) Tj ET Q endstream endobj 125 0 obj <>] /Rotate 0 /Contents 126 0 R>> endobj 126 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (60) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 723.50 Td (Prior ) Tj ET Q q 0 0 0 rg BT 67.48 723.50 Td (to ) Tj ET Q q 0 0 0 rg BT 75.24 723.50 Td (August ) Tj ET Q q 0 0 0 rg BT 100.33 723.50 Td (15, ) Tj ET Q q 0 0 0 rg BT 112.30 723.50 Td (2015, ) Tj ET Q q 0 0 0 rg BT 132.28 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 144.03 723.50 Td (2015 ) Tj ET Q q 0 0 0 rg BT 162.00 723.50 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 201.75 723.50 Td (Notes ) Tj ET Q q 0 0 0 rg BT 222.39 723.50 Td (are ) Tj ET Q q 0 0 0 rg BT 234.13 723.50 Td (convertible ) Tj ET Q q 0 0 0 rg BT 272.09 723.50 Td (following ) Tj ET Q q 0 0 0 rg BT 305.17 723.50 Td (certain ) Tj ET Q q 0 0 0 rg BT 328.91 723.50 Td (events ) Tj ET Q q 0 0 0 rg BT 351.32 723.50 Td (and ) Tj ET Q q 0 0 0 rg BT 364.85 723.50 Td (from ) Tj ET Q q 0 0 0 rg BT 382.38 723.50 Td (that ) Tj ET Q q 0 0 0 rg BT 396.35 723.50 Td (date, ) Tj ET Q q 0 0 0 rg BT 413.65 723.50 Td (at ) Tj ET Q q 0 0 0 rg BT 421.40 723.50 Td (any ) Tj ET Q q 0 0 0 rg BT 434.92 723.50 Td (time, ) Tj ET Q q 0 0 0 rg BT 453.12 723.50 Td (based ) Tj ET Q q 0 0 0 rg BT 473.31 723.50 Td (on ) Tj ET Q q 0 0 0 rg BT 483.28 723.50 Td (an ) Tj ET Q q 0 0 0 rg BT 492.81 723.50 Td (initial ) Tj ET Q q 0 0 0 rg BT 513.45 723.50 Td (conversion ) Tj ET Q q 0 0 0 rg BT 550.53 723.50 Td (rate ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 713.90 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.19 713.90 Td (20) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.19 713.90 Td ( ) Tj ET Q q 0 0 0 rg BT 68.21 713.90 Td (shares ) Tj ET Q q 0 0 0 rg BT 90.23 713.90 Td (of ) Tj ET Q q 0 0 0 rg BT 98.92 713.90 Td (our ) Tj ET Q q 0 0 0 rg BT 111.61 713.90 Td (Class ) Tj ET Q q 0 0 0 rg BT 130.52 713.90 Td (A) Tj ET Q q 0 0 0 rg BT 135.86 713.90 Td ( ) Tj ET Q q 0 0 0 rg BT 137.88 713.90 Td (common ) Tj ET Q q 0 0 0 rg BT 167.90 713.90 Td (stock ) Tj ET Q q 0 0 0 rg BT 186.81 713.90 Td (per ) Tj ET Q q 0 0 0 rg BT 199.05 713.90 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 215.30 713.90 Td (1,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 233.30 713.90 Td ( ) Tj ET Q q 0 0 0 rg BT 235.33 713.90 Td (principal ) Tj ET Q q 0 0 0 rg BT 265.78 713.90 Td (amount ) Tj ET Q q 0 0 0 rg BT 291.81 713.90 Td (of ) Tj ET Q q 0 0 0 rg BT 300.49 713.90 Td (2015 ) Tj ET Q q 0 0 0 rg BT 318.52 713.90 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 358.31 713.90 Td (Notes ) Tj ET Q q 0 0 0 rg BT 379.00 713.90 Td (\(which ) Tj ET Q q 0 0 0 rg BT 403.24 713.90 Td (is ) Tj ET Q q 0 0 0 rg BT 410.60 713.90 Td (equivalent ) Tj ET Q q 0 0 0 rg BT 445.94 713.90 Td (to ) Tj ET Q q 0 0 0 rg BT 454.19 713.90 Td (an ) Tj ET Q q 0 0 0 rg BT 463.77 713.90 Td (initial ) Tj ET Q q 0 0 0 rg BT 484.46 713.90 Td (conversion ) Tj ET Q q 0 0 0 rg BT 521.58 713.90 Td (price ) Tj ET Q q 0 0 0 rg BT 539.59 713.90 Td (of ) Tj ET Q q 0 0 0 rg BT 548.28 713.90 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 704.30 Td (50.00) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 704.30 Td ( ) Tj ET Q q 0 0 0 rg BT 69.91 704.30 Td (per ) Tj ET Q q 0 0 0 rg BT 82.53 704.30 Td (share\). ) Tj ET Q q 0 0 0 rg BT 106.31 704.30 Td (The ) Tj ET Q q 0 0 0 rg BT 121.16 704.30 Td (conversion ) Tj ET Q q 0 0 0 rg BT 158.67 704.30 Td (rate ) Tj ET Q q 0 0 0 rg BT 173.07 704.30 Td (is ) Tj ET Q q 0 0 0 rg BT 180.81 704.30 Td (subject ) Tj ET Q q 0 0 0 rg BT 205.88 704.30 Td (to ) Tj ET Q q 0 0 0 rg BT 214.51 704.30 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 252.03 704.30 Td (if ) Tj ET Q q 0 0 0 rg BT 259.32 704.30 Td (we ) Tj ET Q q 0 0 0 rg BT 271.06 704.30 Td (make ) Tj ET Q q 0 0 0 rg BT 290.79 704.30 Td (certain ) Tj ET Q q 0 0 0 rg BT 314.96 704.30 Td (distributions ) Tj ET Q q 0 0 0 rg BT 357.38 704.30 Td (to ) Tj ET Q q 0 0 0 rg BT 366.01 704.30 Td (the ) Tj ET Q q 0 0 0 rg BT 378.19 704.30 Td (holders ) Tj ET Q q 0 0 0 rg BT 404.15 704.30 Td (of ) Tj ET Q q 0 0 0 rg BT 413.23 704.30 Td (shares ) Tj ET Q q 0 0 0 rg BT 435.63 704.30 Td (of ) Tj ET Q q 0 0 0 rg BT 444.70 704.30 Td (our ) Tj ET Q q 0 0 0 rg BT 457.77 704.30 Td (Class ) Tj ET Q q 0 0 0 rg BT 476.99 704.30 Td (A) Tj ET Q q 0 0 0 rg BT 482.32 704.30 Td ( ) Tj ET Q q 0 0 0 rg BT 484.73 704.30 Td (common ) Tj ET Q q 0 0 0 rg BT 515.14 704.30 Td (stock, ) Tj ET Q q 0 0 0 rg BT 536.43 704.30 Td (under) Tj ET Q q 0 0 0 rg BT 554.50 704.30 Td (go ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 694.70 Td (certain ) Tj ET Q q 0 0 0 rg BT 72.98 694.70 Td (corporate ) Tj ET Q q 0 0 0 rg BT 104.89 694.70 Td (transactions ) Tj ET Q q 0 0 0 rg BT 144.82 694.70 Td (or ) Tj ET Q q 0 0 0 rg BT 153.20 694.70 Td (a ) Tj ET Q q 0 0 0 rg BT 158.46 694.70 Td (fundamental ) Tj ET Q q 0 0 0 rg BT 200.16 694.70 Td (change, ) Tj ET Q q 0 0 0 rg BT 226.53 694.70 Td (and ) Tj ET Q q 0 0 0 rg BT 239.80 694.70 Td (in ) Tj ET Q q 0 0 0 rg BT 247.73 694.70 Td (other ) Tj ET Q q 0 0 0 rg BT 265.89 694.70 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 312.91 694.70 Td (specified ) Tj ET Q q 0 0 0 rg BT 343.50 694.70 Td (in ) Tj ET Q q 0 0 0 rg BT 351.44 694.70 Td (the ) Tj ET Q q 0 0 0 rg BT 362.93 694.70 Td (2015 ) Tj ET Q q 0 0 0 rg BT 380.64 694.70 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 420.13 694.70 Td (Notes. ) Tj ET Q q 0 0 0 rg BT 442.51 694.70 Td (From ) Tj ET Q q 0 0 0 rg BT 461.56 694.70 Td (time ) Tj ET Q q 0 0 0 rg BT 477.49 694.70 Td (to ) Tj ET Q q 0 0 0 rg BT 485.43 694.70 Td (time ) Tj ET Q q 0 0 0 rg BT 501.36 694.70 Td (up ) Tj ET Q q 0 0 0 rg BT 511.08 694.70 Td (to ) Tj ET Q q 0 0 0 rg BT 519.02 694.70 Td (and ) Tj ET Q q 0 0 0 rg BT 532.28 694.70 Td (including ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 685.10 Td (August ) Tj ET Q q 0 0 0 rg BT 74.64 685.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 86.66 685.10 Td (2015, ) Tj ET Q q 0 0 0 rg BT 106.68 685.10 Td (we ) Tj ET Q q 0 0 0 rg BT 118.03 685.10 Td (will ) Tj ET Q q 0 0 0 rg BT 132.50 685.10 Td (have ) Tj ET Q q 0 0 0 rg BT 149.62 685.10 Td (the ) Tj ET Q q 0 0 0 rg BT 161.42 685.10 Td (right ) Tj ET Q q 0 0 0 rg BT 178.55 685.10 Td (to ) Tj ET Q q 0 0 0 rg BT 186.80 685.10 Td (electto ) Tj ET Q q 0 0 0 rg BT 212.14 685.10 Td (deliver ) Tj ET Q q 0 0 0 rg BT 236.37 685.10 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 245.95 685.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 267.96 685.10 Td (of ) Tj ET Q q 0 0 0 rg BT 276.65 685.10 Td (our ) Tj ET Q q 0 0 0 rg BT 289.33 685.10 Td (Class ) Tj ET Q q 0 0 0 rg BT 308.25 685.10 Td (A) Tj ET Q q 0 0 0 rg BT 313.58 685.10 Td ( ) Tj ET Q q 0 0 0 rg BT 315.60 685.10 Td (common ) Tj ET Q q 0 0 0 rg BT 345.62 685.10 Td (stock, ) Tj ET Q q 0 0 0 rg BT 366.53 685.10 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 378.33 685.10 Td (cash, ) Tj ET Q q 0 0 0 rg BT 396.56 685.10 Td (or ) Tj ET Q q 0 0 0 rg BT 405.25 685.10 Td (\(iii\) ) Tj ET Q q 0 0 0 rg BT 419.27 685.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 435.51 685.10 Td (and, ) Tj ET Q q 0 0 0 rg BT 451.08 685.10 Td (if ) Tj ET Q q 0 0 0 rg BT 457.99 685.10 Td (applicable, ) Tj ET Q q 0 0 0 rg BT 494.88 685.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 516.90 685.10 Td (of ) Tj ET Q q 0 0 0 rg BT 525.58 685.10 Td (our ) Tj ET Q q 0 0 0 rg BT 538.27 685.10 Td (Class ) Tj ET Q q 0 0 0 rg BT 557.18 685.10 Td (A) Tj ET Q q 0 0 0 rg BT 562.52 685.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 675.50 Td (common ) Tj ET Q q 0 0 0 rg BT 79.17 675.50 Td (stock ) Tj ET Q q 0 0 0 rg BT 97.74 675.50 Td (upon ) Tj ET Q q 0 0 0 rg BT 115.42 675.50 Td (conversion ) Tj ET Q q 0 0 0 rg BT 152.20 675.50 Td (of ) Tj ET Q q 0 0 0 rg BT 160.54 675.50 Td (the ) Tj ET Q q 0 0 0 rg BT 171.99 675.50 Td (2015 ) Tj ET Q q 0 0 0 rg BT 189.67 675.50 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 229.11 675.50 Td (Notes.) Tj ET Q q 0 0 0 rg BT 251.34 675.50 Td (At ) Tj ET Q q 0 0 0 rg BT 261.01 675.50 Td (present, ) Tj ET Q q 0 0 0 rg BT 287.79 675.50 Td (we ) Tj ET Q q 0 0 0 rg BT 298.80 675.50 Td (have ) Tj ET Q q 0 0 0 rg BT 315.58 675.50 Td (elected ) Tj ET Q q 0 0 0 rg BT 339.90 675.50 Td (to ) Tj ET Q q 0 0 0 rg BT 347.80 675.50 Td (deliver ) Tj ET Q q 0 0 0 rg BT 371.69 675.50 Td (cash ) Tj ET Q q 0 0 0 rg BT 387.59 675.50 Td (and, ) Tj ET Q q 0 0 0 rg BT 402.81 675.50 Td (if ) Tj ET Q q 0 0 0 rg BT 409.38 675.50 Td (applicable, ) Tj ET Q q 0 0 0 rg BT 445.93 675.50 Td (shares ) Tj ET Q q 0 0 0 rg BT 467.60 675.50 Td (of ) Tj ET Q q 0 0 0 rg BT 475.94 675.50 Td (our ) Tj ET Q q 0 0 0 rg BT 488.28 675.50 Td (Class ) Tj ET Q q 0 0 0 rg BT 506.92 675.50 Td (A) Tj ET Q q 0 0 0 rg BT 512.26 675.50 Td ( ) Tj ET Q q 0 0 0 rg BT 513.94 675.50 Td (common ) Tj ET Q q 0 0 0 rg BT 543.61 675.50 Td (stock. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 665.90 Td (As ) Tj ET Q q 0 0 0 rg BT 60.19 665.90 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.77 665.90 Td (December31, ) Tj ET Q q 0 0 0 rg BT 114.44 665.90 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.44 665.90 Td (, ) Tj ET Q q 0 0 0 rg BT 134.25 665.90 Td (the ) Tj ET Q q 0 0 0 rg BT 145.82 665.90 Td (2015 ) Tj ET Q q 0 0 0 rg BT 163.63 665.90 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 203.20 665.90 Td (Notes ) Tj ET Q q 0 0 0 rg BT 223.67 665.90 Td (may ) Tj ET Q q 0 0 0 rg BT 239.25 665.90 Td (not ) Tj ET Q q 0 0 0 rg BT 251.27 665.90 Td (be ) Tj ET Q q 0 0 0 rg BT 260.63 665.90 Td (converted.In ) Tj ET Q q 0 0 0 rg BT 304.63 665.90 Td (addition, ) Tj ET Q q 0 0 0 rg BT 334.66 665.90 Td (the ) Tj ET Q q 0 0 0 rg BT 346.23 665.90 Td (holders ) Tj ET Q q 0 0 0 rg BT 371.59 665.90 Td (of ) Tj ET Q q 0 0 0 rg BT 380.05 665.90 Td (the ) Tj ET Q q 0 0 0 rg BT 391.63 665.90 Td (2015 ) Tj ET Q q 0 0 0 rg BT 409.44 665.90 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 449.01 665.90 Td (Notes ) Tj ET Q q 0 0 0 rg BT 469.48 665.90 Td (have ) Tj ET Q q 0 0 0 rg BT 486.38 665.90 Td (the ) Tj ET Q q 0 0 0 rg BT 497.96 665.90 Td (right ) Tj ET Q q 0 0 0 rg BT 514.87 665.90 Td (to ) Tj ET Q q 0 0 0 rg BT 522.90 665.90 Td (put ) Tj ET Q q 0 0 0 rg BT 534.92 665.90 Td (the ) Tj ET Q q 0 0 0 rg BT 546.50 665.90 Td (2015 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 656.30 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 89.58 656.30 Td (Notes ) Tj ET Q q 0 0 0 rg BT 110.55 656.30 Td (to ) Tj ET Q q 0 0 0 rg BT 119.08 656.30 Td (us ) Tj ET Q q 0 0 0 rg BT 128.50 656.30 Td (for ) Tj ET Q q 0 0 0 rg BT 140.13 656.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 156.65 656.30 Td (equal ) Tj ET Q q 0 0 0 rg BT 176.28 656.30 Td (to ) Tj ET Q q 0 0 0 rg BT 184.81 656.30 Td (the ) Tj ET Q q 0 0 0 rg BT 196.89 656.30 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 230.29 656.30 Td (principal ) Tj ET Q q 0 0 0 rg BT 261.03 656.30 Td (amount ) Tj ET Q q 0 0 0 rg BT 287.33 656.30 Td (of ) Tj ET Q q 0 0 0 rg BT 296.30 656.30 Td (the ) Tj ET Q q 0 0 0 rg BT 308.38 656.30 Td (2015 ) Tj ET Q q 0 0 0 rg BT 326.69 656.30 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 366.77 656.30 Td (Notes ) Tj ET Q q 0 0 0 rg BT 387.74 656.30 Td (plus ) Tj ET Q q 0 0 0 rg BT 403.38 656.30 Td (accrued ) Tj ET Q q 0 0 0 rg BT 430.55 656.30 Td (but ) Tj ET Q q 0 0 0 rg BT 443.08 656.30 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 467.16 656.30 Td (interest ) Tj ET Q q 0 0 0 rg BT 493.02 656.30 Td (thereon ) Tj ET Q q 0 0 0 rg BT 519.31 656.30 Td (following ) Tj ET Q q 0 0 0 rg BT 552.73 656.30 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 646.70 Td (occurrence ) Tj ET Q q 0 0 0 rg BT 86.52 646.70 Td (of ) Tj ET Q q 0 0 0 rg BT 95.12 646.70 Td (certain ) Tj ET Q q 0 0 0 rg BT 118.82 646.70 Td (specified ) Tj ET Q q 0 0 0 rg BT 149.64 646.70 Td (fundamental ) Tj ET Q q 0 0 0 rg BT 191.56 646.70 Td (changes ) Tj ET Q q 0 0 0 rg BT 219.26 646.70 Td (\(including ) Tj ET Q q 0 0 0 rg BT 254.08 646.70 Td (a ) Tj ET Q q 0 0 0 rg BT 259.57 646.70 Td (change ) Tj ET Q q 0 0 0 rg BT 284.17 646.70 Td (of ) Tj ET Q q 0 0 0 rg BT 292.77 646.70 Td (control ) Tj ET Q q 0 0 0 rg BT 317.37 646.70 Td (\(which ) Tj ET Q q 0 0 0 rg BT 341.52 646.70 Td (includes ) Tj ET Q q 0 0 0 rg BT 370.12 646.70 Td (the ) Tj ET Q q 0 0 0 rg BT 381.83 646.70 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 418.87 646.70 Td (by ) Tj ET Q q 0 0 0 rg BT 428.81 646.70 Td (a ) Tj ET Q q 0 0 0 rg BT 434.30 646.70 Td (person ) Tj ET Q q 0 0 0 rg BT 457.57 646.70 Td (or ) Tj ET Q q 0 0 0 rg BT 466.17 646.70 Td (group ) Tj ET Q q 0 0 0 rg BT 486.77 646.70 Td (\(as ) Tj ET Q q 0 0 0 rg BT 498.04 646.70 Td (such ) Tj ET Q q 0 0 0 rg BT 514.64 646.70 Td (term ) Tj ET Q q 0 0 0 rg BT 531.24 646.70 Td (is ) Tj ET Q q 0 0 0 rg BT 538.52 646.70 Td (defined ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 637.10 Td (in ) Tj ET Q q 0 0 0 rg BT 57.38 637.10 Td (Section ) Tj ET Q q 0 0 0 rg BT 83.03 637.10 Td (13\(d\)\(3\) ) Tj ET Q q 0 0 0 rg BT 111.34 637.10 Td (of ) Tj ET Q q 0 0 0 rg BT 119.66 637.10 Td (the ) Tj ET Q q 0 0 0 rg BT 131.08 637.10 Td (Securities ) Tj ET Q q 0 0 0 rg BT 164.29 637.10 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 197.11 637.10 Td (Act ) Tj ET Q q 0 0 0 rg BT 210.32 637.10 Td (of ) Tj ET Q q 0 0 0 rg BT 218.64 637.10 Td (1934, ) Tj ET Q q 0 0 0 rg BT 238.29 637.10 Td (as ) Tj ET Q q 0 0 0 rg BT 246.61 637.10 Td (amended ) Tj ET Q q 0 0 0 rg BT 277.14 637.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 291.23 637.10 Td ("Exchange ) Tj ET Q q 0 0 0 rg BT 327.32 637.10 Td (Act"\)\) ) Tj ET Q q 0 0 0 rg BT 349.12 637.10 Td (of ) Tj ET Q q 0 0 0 rg BT 357.44 637.10 Td (beneficial ) Tj ET Q q 0 0 0 rg BT 390.63 637.10 Td (ownership ) Tj ET Q q 0 0 0 rg BT 425.61 637.10 Td (of ) Tj ET Q q 0 0 0 rg BT 433.93 637.10 Td (more ) Tj ET Q q 0 0 0 rg BT 452.02 637.10 Td (than ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.45 637.10 Td (50%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.12 637.10 Td ( ) Tj ET Q q 0 0 0 rg BT 483.77 637.10 Td (of ) Tj ET Q q 0 0 0 rg BT 492.09 637.10 Td (the ) Tj ET Q q 0 0 0 rg BT 503.52 637.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 542.50 637.10 Td (shares ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 627.50 Td (of ) Tj ET Q q 0 0 0 rg BT 58.16 627.50 Td (our ) Tj ET Q q 0 0 0 rg BT 70.83 627.50 Td (Class ) Tj ET Q q 0 0 0 rg BT 89.72 627.50 Td (A) Tj ET Q q 0 0 0 rg BT 95.06 627.50 Td ( ) Tj ET Q q 0 0 0 rg BT 97.06 627.50 Td (common ) Tj ET Q q 0 0 0 rg BT 127.05 627.50 Td (stock\), ) Tj ET Q q 0 0 0 rg BT 150.61 627.50 Td (certain ) Tj ET Q q 0 0 0 rg BT 174.37 627.50 Td (mer) Tj ET Q q 0 0 0 rg BT 186.66 627.50 Td (gers, ) Tj ET Q q 0 0 0 rg BT 203.99 627.50 Td (insolvency ) Tj ET Q q 0 0 0 rg BT 240.65 627.50 Td (and ) Tj ET Q q 0 0 0 rg BT 254.20 627.50 Td (a ) Tj ET Q q 0 0 0 rg BT 259.75 627.50 Td (delisting\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 611.90 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 611.90 Td (e ) Tj ET Q q 0 0 0 rg BT 61.54 611.90 Td (separately ) Tj ET Q q 0 0 0 rg BT 95.55 611.90 Td (account ) Tj ET Q q 0 0 0 rg BT 122.00 611.90 Td (for ) Tj ET Q q 0 0 0 rg BT 132.91 611.90 Td (the ) Tj ET Q q 0 0 0 rg BT 144.26 611.90 Td (liability ) Tj ET Q q 0 0 0 rg BT 170.73 611.90 Td (and ) Tj ET Q q 0 0 0 rg BT 183.86 611.90 Td (equity ) Tj ET Q q 0 0 0 rg BT 205.44 611.90 Td (components ) Tj ET Q q 0 0 0 rg BT 245.68 611.90 Td (of ) Tj ET Q q 0 0 0 rg BT 253.92 611.90 Td (the ) Tj ET Q q 0 0 0 rg BT 265.28 611.90 Td (2015 ) Tj ET Q q 0 0 0 rg BT 282.86 611.90 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 322.21 611.90 Td (Notes. ) Tj ET Q q 0 0 0 rg BT 344.33 611.90 Td (The ) Tj ET Q q 0 0 0 rg BT 358.35 611.90 Td (embedded ) Tj ET Q q 0 0 0 rg BT 392.81 611.90 Td (conversion ) Tj ET Q q 0 0 0 rg BT 429.49 611.90 Td (option ) Tj ET Q q 0 0 0 rg BT 451.51 611.90 Td (is ) Tj ET Q q 0 0 0 rg BT 458.43 611.90 Td (not ) Tj ET Q q 0 0 0 rg BT 470.23 611.90 Td (accounted ) Tj ET Q q 0 0 0 rg BT 504.24 611.90 Td (for ) Tj ET Q q 0 0 0 rg BT 515.15 611.90 Td (as ) Tj ET Q q 0 0 0 rg BT 523.39 611.90 Td (a ) Tj ET Q q 0 0 0 rg BT 528.52 611.90 Td (derivative.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 557.40 220.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.00 557.40 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 557.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 557.40 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 557.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 557.40 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 557.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 557.40 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 527.40 220.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.00 527.40 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 527.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 527.40 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 527.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 527.40 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 527.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 527.40 70.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 270 557.4 m 340 557.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 344 557.4 m 414 557.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 418 557.4 m 488 557.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 492 557.4 m 562 557.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270 527.4 m 340 527.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270 513.4 m 340 513.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270 511.4 m 340 511.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 527.4 m 414 527.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 513.4 m 414 513.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 511.4 m 414 511.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418 527.4 m 488 527.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418 513.4 m 488 513.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418 511.4 m 488 511.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 527.4 m 562 527.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 513.4 m 562 513.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 511.4 m 562 511.4 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 561.65 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 275.35 577.63 Td (Principal Amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 298.45 569.63 Td (of Liability) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 296.45 561.63 Td (Component) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.60 569.63 Td (Unamortized) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 380.25 561.63 Td (Discount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.95 569.63 Td (Net Carrying) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 456.45 561.63 Td (Amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 535.35 569.63 Td (Equity) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 518.45 561.63 Td (Component) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 546.63 Td (BALANCE December 31, 2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 272.50 546.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 310.80 546.63 Td (261,034) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.50 546.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 386.10 546.63 Td (\(19,841) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 410.80 546.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 420.50 546.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.80 546.63 Td (241,193) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.50 546.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.80 546.63 Td (11,907) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 531.65 Td (Amortization of debt issuance discount) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.80 531.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.80 531.65 Td (10,476) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.80 531.65 Td (10,476) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 531.65 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 516.63 Td (BALANCE December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 272.50 516.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 310.80 516.63 Td (261,034) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.50 516.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 390.10 516.63 Td (\(9,365) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 410.80 516.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 420.50 516.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.80 516.63 Td (251,669) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.50 516.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.80 516.63 Td (11,907) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 497.30 Td (The ) Tj ET Q q 0 0 0 rg BT 63.73 497.30 Td (issuance ) Tj ET Q q 0 0 0 rg BT 92.63 497.30 Td (discount ) Tj ET Q q 0 0 0 rg BT 121.54 497.30 Td (is ) Tj ET Q q 0 0 0 rg BT 128.67 497.30 Td (being ) Tj ET Q q 0 0 0 rg BT 148.24 497.30 Td (amortized ) Tj ET Q q 0 0 0 rg BT 182.02 497.30 Td (over ) Tj ET Q q 0 0 0 rg BT 198.04 497.30 Td (the ) Tj ET Q q 0 0 0 rg BT 209.61 497.30 Td (life ) Tj ET Q q 0 0 0 rg BT 222.06 497.30 Td (of ) Tj ET Q q 0 0 0 rg BT 230.52 497.30 Td (the ) Tj ET Q q 0 0 0 rg BT 242.09 497.30 Td (2015 ) Tj ET Q q 0 0 0 rg BT 259.89 497.30 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 299.46 497.30 Td (Notes ) Tj ET Q q 0 0 0 rg BT 319.92 497.30 Td (using ) Tj ET Q q 0 0 0 rg BT 339.05 497.30 Td (the ) Tj ET Q q 0 0 0 rg BT 350.62 497.30 Td (ef) Tj ET Q q 0 0 0 rg BT 356.69 497.30 Td (fective ) Tj ET Q q 0 0 0 rg BT 380.25 497.30 Td (interest ) Tj ET Q q 0 0 0 rg BT 405.59 497.30 Td (method. ) Tj ET Q q 0 0 0 rg BT 433.26 497.30 Td (The ) Tj ET Q q 0 0 0 rg BT 447.49 497.30 Td (ef) Tj ET Q q 0 0 0 rg BT 453.56 497.30 Td (fective ) Tj ET Q q 0 0 0 rg BT 477.12 497.30 Td (interest ) Tj ET Q q 0 0 0 rg BT 502.46 497.30 Td (rate ) Tj ET Q q 0 0 0 rg BT 516.25 497.30 Td (on ) Tj ET Q q 0 0 0 rg BT 526.05 497.30 Td (the ) Tj ET Q q 0 0 0 rg BT 537.62 497.30 Td (liability ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 487.70 Td (component ) Tj ET Q q 0 0 0 rg BT 87.05 487.70 Td (was ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 101.49 487.70 Td (10.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 122.15 487.70 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 472.10 Td (Certain ) Tj ET Q q 0 0 0 rg BT 75.14 472.10 Td (other ) Tj ET Q q 0 0 0 rg BT 93.67 472.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 127.75 472.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 167.18 472.10 Td (have ) Tj ET Q q 0 0 0 rg BT 184.38 472.10 Td (been ) Tj ET Q q 0 0 0 rg BT 201.57 472.10 Td (identified ) Tj ET Q q 0 0 0 rg BT 234.32 472.10 Td (as ) Tj ET Q q 0 0 0 rg BT 243.08 472.10 Td (being ) Tj ET Q q 0 0 0 rg BT 262.95 472.10 Td (embedded ) Tj ET Q q 0 0 0 rg BT 297.92 472.10 Td (in ) Tj ET Q q 0 0 0 rg BT 306.24 472.10 Td (the ) Tj ET Q q 0 0 0 rg BT 318.11 472.10 Td (2015 ) Tj ET Q q 0 0 0 rg BT 336.20 472.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 376.06 472.10 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 398.82 472.10 Td (but ) Tj ET Q q 0 0 0 rg BT 411.14 472.10 Td (as ) Tj ET Q q 0 0 0 rg BT 419.90 472.10 Td (they ) Tj ET Q q 0 0 0 rg BT 435.77 472.10 Td (are ) Tj ET Q q 0 0 0 rg BT 447.63 472.10 Td (considered ) Tj ET Q q 0 0 0 rg BT 484.38 472.10 Td (to ) Tj ET Q q 0 0 0 rg BT 492.69 472.10 Td (be ) Tj ET Q q 0 0 0 rg BT 502.34 472.10 Td (clearly ) Tj ET Q q 0 0 0 rg BT 526.19 472.10 Td (and ) Tj ET Q q 0 0 0 rg BT 539.84 472.10 Td (closely ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 462.50 Td (related ) Tj ET Q q 0 0 0 rg BT 73.26 462.50 Td (to ) Tj ET Q q 0 0 0 rg BT 81.48 462.50 Td (the ) Tj ET Q q 0 0 0 rg BT 93.26 462.50 Td (2015 ) Tj ET Q q 0 0 0 rg BT 111.26 462.50 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 151.03 462.50 Td (Notes ) Tj ET Q q 0 0 0 rg BT 171.69 462.50 Td (they ) Tj ET Q q 0 0 0 rg BT 187.46 462.50 Td (are ) Tj ET Q q 0 0 0 rg BT 199.23 462.50 Td (not ) Tj ET Q q 0 0 0 rg BT 211.45 462.50 Td (accounted ) Tj ET Q q 0 0 0 rg BT 245.88 462.50 Td (for ) Tj ET Q q 0 0 0 rg BT 257.21 462.50 Td (separately) Tj ET Q q 0 0 0 rg BT 289.11 462.50 Td (.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 443.90 Td (2017 ) Tj ET Q q 0 0 0 rg BT 67.50 443.90 Td (PIK ) Tj ET Q q 0 0 0 rg BT 82.39 443.90 Td (Notes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 428.30 Td (As ) Tj ET Q q 0 0 0 rg BT 60.31 428.30 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.01 428.30 Td (December31, ) Tj ET Q q 0 0 0 rg BT 114.80 428.30 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.80 428.30 Td (, ) Tj ET Q q 0 0 0 rg BT 134.72 428.30 Td (the ) Tj ET Q q 0 0 0 rg BT 146.41 428.30 Td (principal ) Tj ET Q q 0 0 0 rg BT 176.77 428.30 Td (amount ) Tj ET Q q 0 0 0 rg BT 202.69 428.30 Td (of ) Tj ET Q q 0 0 0 rg BT 211.27 428.30 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 222.97 428.30 Td (15.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 243.63 428.30 Td ( ) Tj ET Q q 0 0 0 rg BT 245.55 428.30 Td (Senior ) Tj ET Q q 0 0 0 rg BT 268.36 428.30 Td (Secured ) Tj ET Q q 0 0 0 rg BT 296.05 428.30 Td (Note ) Tj ET Q q 0 0 0 rg BT 313.52 428.30 Td (due ) Tj ET Q q 0 0 0 rg BT 327.00 428.30 Td (2017 ) Tj ET Q q 0 0 0 rg BT 344.92 428.30 Td (\(the ) Tj ET Q q 0 0 0 rg BT 359.28 428.30 Td ("2017 ) Tj ET Q q 0 0 0 rg BT 380.46 428.30 Td (PIK ) Tj ET Q q 0 0 0 rg BT 395.28 428.30 Td (Notes"\) ) Tj ET Q q 0 0 0 rg BT 421.79 428.30 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 461.05 428.30 Td (was ) Tj ET Q q 0 0 0 rg BT 475.41 428.30 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.56 428.30 Td (434.8 ) Tj ET Q q 0 0 0 rg BT 511.48 428.30 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.59 428.30 Td (. ) Tj ET Q q 0 0 0 rg BT 538.52 428.30 Td (Interest ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 418.70 Td (is ) Tj ET Q q 0 0 0 rg BT 57.08 418.70 Td (payable ) Tj ET Q q 0 0 0 rg BT 84.21 418.70 Td (semi-annually ) Tj ET Q q 0 0 0 rg BT 131.78 418.70 Td (in ) Tj ET Q q 0 0 0 rg BT 140.25 418.70 Td (arrears ) Tj ET Q q 0 0 0 rg BT 164.25 418.70 Td (on ) Tj ET Q q 0 0 0 rg BT 174.50 418.70 Td (each ) Tj ET Q q 0 0 0 rg BT 191.40 418.70 Td (June ) Tj ET Q q 0 0 0 rg BT 208.31 418.70 Td (1 ) Tj ET Q q 0 0 0 rg BT 214.56 418.70 Td (and ) Tj ET Q q 0 0 0 rg BT 228.36 418.70 Td (December ) Tj ET Q q 0 0 0 rg BT 263.47 418.70 Td (1, ) Tj ET Q q 0 0 0 rg BT 271.72 418.70 Td (which ) Tj ET Q q 0 0 0 rg BT 293.52 418.70 Td (the ) Tj ET Q q 0 0 0 rg BT 305.54 418.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 338.90 418.70 Td (must ) Tj ET Q q 0 0 0 rg BT 356.71 418.70 Td (pay ) Tj ET Q q 0 0 0 rg BT 370.51 418.70 Td (in ) Tj ET Q q 0 0 0 rg BT 378.98 418.70 Td (kind ) Tj ET Q q 0 0 0 rg BT 395.45 418.70 Td (on ) Tj ET Q q 0 0 0 rg BT 405.70 418.70 Td (a ) Tj ET Q q 0 0 0 rg BT 411.49 418.70 Td (semi-annual ) Tj ET Q q 0 0 0 rg BT 452.84 418.70 Td (basis ) Tj ET Q q 0 0 0 rg BT 471.09 418.70 Td (until ) Tj ET Q q 0 0 0 rg BT 488.00 418.70 Td (November ) Tj ET Q q 0 0 0 rg BT 524.02 418.70 Td (15, ) Tj ET Q q 0 0 0 rg BT 536.27 418.70 Td (2015 ) Tj ET Q q 0 0 0 rg BT 554.51 418.70 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 409.10 Td (adding ) Tj ET Q q 0 0 0 rg BT 73.26 409.10 Td (such ) Tj ET Q q 0 0 0 rg BT 89.92 409.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 116.78 409.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 142.32 409.10 Td (to ) Tj ET Q q 0 0 0 rg BT 150.53 409.10 Td (the ) Tj ET Q q 0 0 0 rg BT 162.29 409.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 192.72 409.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 218.71 409.10 Td (of ) Tj ET Q q 0 0 0 rg BT 227.36 409.10 Td (the ) Tj ET Q q 0 0 0 rg BT 239.13 409.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 257.12 409.10 Td (PIK ) Tj ET Q q 0 0 0 rg BT 272.00 409.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 292.66 409.10 Td (and ) Tj ET Q q 0 0 0 rg BT 306.20 409.10 Td (thereafter ) Tj ET Q q 0 0 0 rg BT 338.83 409.10 Td (may ) Tj ET Q q 0 0 0 rg BT 354.59 409.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 368.14 409.10 Td (such ) Tj ET Q q 0 0 0 rg BT 384.79 409.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 411.65 409.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 437.19 409.10 Td (in ) Tj ET Q q 0 0 0 rg BT 445.40 409.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 461.61 409.10 Td (or ) Tj ET Q q 0 0 0 rg BT 470.26 409.10 Td (in ) Tj ET Q q 0 0 0 rg BT 478.48 409.10 Td (kind. ) Tj ET Q q 0 0 0 rg BT 496.55 409.10 Td (The ) Tj ET Q q 0 0 0 rg BT 510.98 409.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 528.97 409.10 Td (PIK ) Tj ET Q q 0 0 0 rg BT 543.85 409.10 Td (Notes ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 399.50 Td (mature ) Tj ET Q q 0 0 0 rg BT 73.67 399.50 Td (on ) Tj ET Q q 0 0 0 rg BT 83.63 399.50 Td (December1,2017. ) Tj ET Q q 0 0 0 rg BT 146.31 399.50 Td (The ) Tj ET Q q 0 0 0 rg BT 160.71 399.50 Td (fair ) Tj ET Q q 0 0 0 rg BT 173.77 399.50 Td (value ) Tj ET Q q 0 0 0 rg BT 193.05 399.50 Td (of ) Tj ET Q q 0 0 0 rg BT 201.68 399.50 Td (the ) Tj ET Q q 0 0 0 rg BT 213.41 399.50 Td (2017 ) Tj ET Q q 0 0 0 rg BT 231.37 399.50 Td (PIK ) Tj ET Q q 0 0 0 rg BT 246.22 399.50 Td (Notes ) Tj ET Q q 0 0 0 rg BT 266.84 399.50 Td (as ) Tj ET Q q 0 0 0 rg BT 275.46 399.50 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 283.20 399.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 330.02 399.50 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 346.02 399.50 Td ( ) Tj ET Q q 0 0 0 rg BT 347.98 399.50 Td (of ) Tj ET Q q 0 0 0 rg BT 356.60 399.50 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.79 399.50 Td (477.0 ) Tj ET Q q 0 0 0 rg BT 392.75 399.50 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.86 399.50 Td ( ) Tj ET Q q 0 0 0 rg BT 417.82 399.50 Td (was ) Tj ET Q q 0 0 0 rg BT 432.22 399.50 Td (calculated ) Tj ET Q q 0 0 0 rg BT 466.60 399.50 Td (using ) Tj ET Q q 0 0 0 rg BT 485.90 399.50 Td (comparable ) Tj ET Q q 0 0 0 rg BT 525.17 399.50 Td (instruments ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 389.90 Td (that ) Tj ET Q q 0 0 0 rg BT 63.84 389.90 Td (trade ) Tj ET Q q 0 0 0 rg BT 82.18 389.90 Td (in ) Tj ET Q q 0 0 0 rg BT 90.75 389.90 Td (active ) Tj ET Q q 0 0 0 rg BT 112.19 389.90 Td (markets ) Tj ET Q q 0 0 0 rg BT 139.86 389.90 Td (and, ) Tj ET Q q 0 0 0 rg BT 155.76 389.90 Td (where ) Tj ET Q q 0 0 0 rg BT 177.65 389.90 Td (available, ) Tj ET Q q 0 0 0 rg BT 210.87 389.90 Td (actual ) Tj ET Q q 0 0 0 rg BT 232.31 389.90 Td (trade ) Tj ET Q q 0 0 0 rg BT 250.65 389.90 Td (history ) Tj ET Q q 0 0 0 rg BT 275.22 389.90 Td (of ) Tj ET Q q 0 0 0 rg BT 284.23 389.90 Td (the ) Tj ET Q q 0 0 0 rg BT 296.35 389.90 Td (2017 ) Tj ET Q q 0 0 0 rg BT 314.69 389.90 Td (PIK ) Tj ET Q q 0 0 0 rg BT 329.93 389.90 Td (Notes ) Tj ET Q q 0 0 0 rg BT 350.94 389.90 Td (in ) Tj ET Q q 0 0 0 rg BT 359.51 389.90 Td (a ) Tj ET Q q 0 0 0 rg BT 365.41 389.90 Td (market ) Tj ET Q q 0 0 0 rg BT 389.97 389.90 Td (that ) Tj ET Q q 0 0 0 rg BT 404.31 389.90 Td (is ) Tj ET Q q 0 0 0 rg BT 411.99 389.90 Td (not ) Tj ET Q q 0 0 0 rg BT 424.56 389.90 Td (active. ) Tj ET Q q 0 0 0 rg BT 447.84 389.90 Td (This ) Tj ET Q q 0 0 0 rg BT 464.40 389.90 Td (measurement ) Tj ET Q q 0 0 0 rg BT 509.40 389.90 Td (of ) Tj ET Q q 0 0 0 rg BT 518.41 389.90 Td (estimated ) Tj ET Q q 0 0 0 rg BT 551.41 389.90 Td (fair ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 380.30 Td (value ) Tj ET Q q 0 0 0 rg BT 68.82 380.30 Td (uses ) Tj ET Q q 0 0 0 rg BT 84.60 380.30 Td (Level ) Tj ET Q q 0 0 0 rg BT 104.81 380.30 Td (2 ) Tj ET Q q 0 0 0 rg BT 110.81 380.30 Td (inputs ) Tj ET Q q 0 0 0 rg BT 132.37 380.30 Td (as ) Tj ET Q q 0 0 0 rg BT 141.04 380.30 Td (described ) Tj ET Q q 0 0 0 rg BT 173.69 380.30 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.91 380.30 Td (Note ) Tj ET Q q 0 0 0 rg BT 199.46 380.30 Td (14, ) Tj ET Q q 0 0 0 rg BT 211.46 380.30 Td ("Financial ) Tj ET Q q 0 0 0 rg BT 246.50 380.30 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 286.27 380.30 Td (and ) Tj ET Q q 0 0 0 rg BT 299.82 380.30 Td (Fair ) Tj ET Q q 0 0 0 rg BT 314.56 380.30 Td (V) Tj ET Q q 0 0 0 rg BT 319.45 380.30 Td (alue ) Tj ET Q q 0 0 0 rg BT 334.78 380.30 Td (Measurements") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 384.70 380.30 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 364.70 Td (The ) Tj ET Q q 0 0 0 rg BT 63.73 364.70 Td (2017 ) Tj ET Q q 0 0 0 rg BT 81.52 364.70 Td (PIK ) Tj ET Q q 0 0 0 rg BT 96.20 364.70 Td (Notes ) Tj ET Q q 0 0 0 rg BT 116.65 364.70 Td (are ) Tj ET Q q 0 0 0 rg BT 128.21 364.70 Td (senior ) Tj ET Q q 0 0 0 rg BT 149.55 364.70 Td (secured ) Tj ET Q q 0 0 0 rg BT 175.77 364.70 Td (obligations ) Tj ET Q q 0 0 0 rg BT 213.11 364.70 Td (of ) Tj ET Q q 0 0 0 rg BT 221.57 364.70 Td (CME, ) Tj ET Q q 0 0 0 rg BT 242.69 364.70 Td (and ) Tj ET Q q 0 0 0 rg BT 256.03 364.70 Td (are ) Tj ET Q q 0 0 0 rg BT 267.59 364.70 Td (jointly ) Tj ET Q q 0 0 0 rg BT 290.27 364.70 Td (and ) Tj ET Q q 0 0 0 rg BT 303.61 364.70 Td (severally ) Tj ET Q q 0 0 0 rg BT 334.28 364.70 Td (guaranteed ) Tj ET Q q 0 0 0 rg BT 371.16 364.70 Td (by ) Tj ET Q q 0 0 0 rg BT 380.95 364.70 Td (CMENV) Tj ET Q q 0 0 0 rg BT 411.69 364.70 Td ( ) Tj ET Q q 0 0 0 rg BT 413.48 364.70 Td (and ) Tj ET Q q 0 0 0 rg BT 426.82 364.70 Td (CMEBV) Tj ET Q q 0 0 0 rg BT 457.13 364.70 Td ( ) Tj ET Q q 0 0 0 rg BT 458.92 364.70 Td (and ) Tj ET Q q 0 0 0 rg BT 472.26 364.70 Td (are ) Tj ET Q q 0 0 0 rg BT 483.81 364.70 Td (secured ) Tj ET Q q 0 0 0 rg BT 510.03 364.70 Td (by ) Tj ET Q q 0 0 0 rg BT 519.82 364.70 Td (a ) Tj ET Q q 0 0 0 rg BT 525.17 364.70 Td (pledge ) Tj ET Q q 0 0 0 rg BT 548.28 364.70 Td (over ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 355.10 Td (100%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.16 355.10 Td ( ) Tj ET Q q 0 0 0 rg BT 70.50 355.10 Td (of ) Tj ET Q q 0 0 0 rg BT 79.50 355.10 Td (the ) Tj ET Q q 0 0 0 rg BT 91.61 355.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 131.28 355.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 153.61 355.10 Td (of ) Tj ET Q q 0 0 0 rg BT 162.61 355.10 Td (each ) Tj ET Q q 0 0 0 rg BT 179.60 355.10 Td (of ) Tj ET Q q 0 0 0 rg BT 188.60 355.10 Td (CMENV) Tj ET Q q 0 0 0 rg BT 219.35 355.10 Td ( ) Tj ET Q q 0 0 0 rg BT 221.68 355.10 Td (and ) Tj ET Q q 0 0 0 rg BT 235.57 355.10 Td (CMEBV) Tj ET Q q 0 0 0 rg BT 264.99 355.10 Td (. ) Tj ET Q q 0 0 0 rg BT 269.33 355.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 291.66 355.10 Td (the ) Tj ET Q q 0 0 0 rg BT 303.77 355.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 323.88 355.10 Td (of ) Tj ET Q q 0 0 0 rg BT 332.88 355.10 Td (the ) Tj ET Q q 0 0 0 rg BT 344.99 355.10 Td (indenture ) Tj ET Q q 0 0 0 rg BT 377.54 355.10 Td (governing ) Tj ET Q q 0 0 0 rg BT 412.31 355.10 Td (the ) Tj ET Q q 0 0 0 rg BT 424.42 355.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 442.76 355.10 Td (PIK ) Tj ET Q q 0 0 0 rg BT 457.99 355.10 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 480.99 355.10 Td (CME ) Tj ET Q q 0 0 0 rg BT 500.66 355.10 Td (is ) Tj ET Q q 0 0 0 rg BT 508.33 355.10 Td (lar) Tj ET Q q 0 0 0 rg BT 516.63 355.10 Td (gely ) Tj ET Q q 0 0 0 rg BT 532.74 355.10 Td (restricted ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 345.50 Td (from ) Tj ET Q q 0 0 0 rg BT 66.80 345.50 Td (raising ) Tj ET Q q 0 0 0 rg BT 90.33 345.50 Td (debt ) Tj ET Q q 0 0 0 rg BT 105.85 345.50 Td (at ) Tj ET Q q 0 0 0 rg BT 113.38 345.50 Td (the ) Tj ET Q q 0 0 0 rg BT 124.90 345.50 Td (corporate ) Tj ET Q q 0 0 0 rg BT 156.85 345.50 Td (level ) Tj ET Q q 0 0 0 rg BT 174.15 345.50 Td (or ) Tj ET Q q 0 0 0 rg BT 182.57 345.50 Td (making ) Tj ET Q q 0 0 0 rg BT 208.31 345.50 Td (certain ) Tj ET Q q 0 0 0 rg BT 231.83 345.50 Td (payments ) Tj ET Q q 0 0 0 rg BT 264.24 345.50 Td (or ) Tj ET Q q 0 0 0 rg BT 272.65 345.50 Td (investments ) Tj ET Q q 0 0 0 rg BT 312.62 345.50 Td (if ) Tj ET Q q 0 0 0 rg BT 319.26 345.50 Td (the ) Tj ET Q q 0 0 0 rg BT 330.78 345.50 Td (ratio ) Tj ET Q q 0 0 0 rg BT 347.20 345.50 Td (of ) Tj ET Q q 0 0 0 rg BT 355.61 345.50 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 399.58 345.50 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 428.47 345.50 Td ( ) Tj ET Q q 0 0 0 rg BT 430.22 345.50 Td (to ) Tj ET Q q 0 0 0 rg BT 438.19 345.50 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 482.16 345.50 Td (Interest ) Tj ET Q q 0 0 0 rg BT 507.90 345.50 Td (Expense ) Tj ET Q q 0 0 0 rg BT 536.75 345.50 Td (of ) Tj ET Q q 0 0 0 rg BT 545.17 345.50 Td (CME ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 335.90 Td (Ltd. ) Tj ET Q q 0 0 0 rg BT 64.44 335.90 Td (and ) Tj ET Q q 0 0 0 rg BT 77.82 335.90 Td (its ) Tj ET Q q 0 0 0 rg BT 87.21 335.90 Td (Restricted ) Tj ET Q q 0 0 0 rg BT 121.47 335.90 Td (Subsidiaries ) Tj ET Q q 0 0 0 rg BT 162.41 335.90 Td (\(as ) Tj ET Q q 0 0 0 rg BT 173.57 335.90 Td (each ) Tj ET Q q 0 0 0 rg BT 190.05 335.90 Td (is ) Tj ET Q q 0 0 0 rg BT 197.22 335.90 Td (defined ) Tj ET Q q 0 0 0 rg BT 223.04 335.90 Td (in ) Tj ET Q q 0 0 0 rg BT 231.09 335.90 Td (the ) Tj ET Q q 0 0 0 rg BT 242.69 335.90 Td (indenture\) ) Tj ET Q q 0 0 0 rg BT 277.40 335.90 Td (is ) Tj ET Q q 0 0 0 rg BT 284.56 335.90 Td (less ) Tj ET Q q 0 0 0 rg BT 298.39 335.90 Td (than ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.00 335.90 Td (2.0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 324.00 335.90 Td ( ) Tj ET Q q 0 0 0 rg BT 325.83 335.90 Td (times. ) Tj ET Q q 0 0 0 rg BT 346.86 335.90 Td (The ) Tj ET Q q 0 0 0 rg BT 361.13 335.90 Td (terms ) Tj ET Q q 0 0 0 rg BT 380.73 335.90 Td (of ) Tj ET Q q 0 0 0 rg BT 389.22 335.90 Td (the ) Tj ET Q q 0 0 0 rg BT 400.83 335.90 Td (2017 ) Tj ET Q q 0 0 0 rg BT 418.66 335.90 Td (PIK ) Tj ET Q q 0 0 0 rg BT 433.38 335.90 Td (Notes ) Tj ET Q q 0 0 0 rg BT 453.87 335.90 Td (also ) Tj ET Q q 0 0 0 rg BT 468.59 335.90 Td (contain ) Tj ET Q q 0 0 0 rg BT 493.97 335.90 Td (limitations ) Tj ET Q q 0 0 0 rg BT 530.02 335.90 Td (on ) Tj ET Q q 0 0 0 rg BT 539.85 335.90 Td (CME) Tj ET Q q 0 0 0 rg BT 559.41 335.90 Td (s ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 326.30 Td (ability ) Tj ET Q q 0 0 0 rg BT 71.35 326.30 Td (to ) Tj ET Q q 0 0 0 rg BT 78.99 326.30 Td (incur ) Tj ET Q q 0 0 0 rg BT 96.84 326.30 Td (guarantees, ) Tj ET Q q 0 0 0 rg BT 134.45 326.30 Td (grant ) Tj ET Q q 0 0 0 rg BT 152.30 326.30 Td (liens, ) Tj ET Q q 0 0 0 rg BT 170.82 326.30 Td (enter ) Tj ET Q q 0 0 0 rg BT 188.22 326.30 Td (into ) Tj ET Q q 0 0 0 rg BT 202.08 326.30 Td (certain ) Tj ET Q q 0 0 0 rg BT 225.26 326.30 Td (af) Tj ET Q q 0 0 0 rg BT 231.33 326.30 Td (filiate ) Tj ET Q q 0 0 0 rg BT 251.39 326.30 Td (transactions, ) Tj ET Q q 0 0 0 rg BT 293.02 326.30 Td (consolidate, ) Tj ET Q q 0 0 0 rg BT 332.86 326.30 Td (mer) Tj ET Q q 0 0 0 rg BT 345.16 326.30 Td (ge ) Tj ET Q q 0 0 0 rg BT 354.12 326.30 Td (or ) Tj ET Q q 0 0 0 rg BT 362.20 326.30 Td (ef) Tj ET Q q 0 0 0 rg BT 368.27 326.30 Td (fect ) Tj ET Q q 0 0 0 rg BT 381.67 326.30 Td (a ) Tj ET Q q 0 0 0 rg BT 386.63 326.30 Td (corporate ) Tj ET Q q 0 0 0 rg BT 418.24 326.30 Td (reconstruction, ) Tj ET Q q 0 0 0 rg BT 467.42 326.30 Td (and ) Tj ET Q q 0 0 0 rg BT 480.38 326.30 Td (make ) Tj ET Q q 0 0 0 rg BT 499.12 326.30 Td (certain ) Tj ET Q q 0 0 0 rg BT 522.29 326.30 Td (investments. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 310.70 Td (In ) Tj ET Q q 0 0 0 rg BT 58.15 310.70 Td (the ) Tj ET Q q 0 0 0 rg BT 69.91 310.70 Td (event ) Tj ET Q q 0 0 0 rg BT 89.23 310.70 Td (that ) Tj ET Q q 0 0 0 rg BT 103.21 310.70 Td (\(A\) ) Tj ET Q q 0 0 0 rg BT 116.30 310.70 Td (there ) Tj ET Q q 0 0 0 rg BT 134.28 310.70 Td (is ) Tj ET Q q 0 0 0 rg BT 141.61 310.70 Td (a ) Tj ET Q q 0 0 0 rg BT 147.14 310.70 Td (change ) Tj ET Q q 0 0 0 rg BT 171.79 310.70 Td (in ) Tj ET Q q 0 0 0 rg BT 180.00 310.70 Td (control ) Tj ET Q q 0 0 0 rg BT 204.64 310.70 Td (by ) Tj ET Q q 0 0 0 rg BT 214.63 310.70 Td (which ) Tj ET Q q 0 0 0 rg BT 236.17 310.70 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 245.71 310.70 Td (any ) Tj ET Q q 0 0 0 rg BT 259.25 310.70 Td (party ) Tj ET Q q 0 0 0 rg BT 277.68 310.70 Td (other ) Tj ET Q q 0 0 0 rg BT 296.10 310.70 Td (than ) Tj ET Q q 0 0 0 rg BT 311.86 310.70 Td (certain ) Tj ET Q q 0 0 0 rg BT 335.61 310.70 Td (of ) Tj ET Q q 0 0 0 rg BT 344.27 310.70 Td (our ) Tj ET Q q 0 0 0 rg BT 356.92 310.70 Td (present ) Tj ET Q q 0 0 0 rg BT 382.01 310.70 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 424.43 310.70 Td (becomes ) Tj ET Q q 0 0 0 rg BT 454.40 310.70 Td (the ) Tj ET Q q 0 0 0 rg BT 466.16 310.70 Td (beneficial ) Tj ET Q q 0 0 0 rg BT 499.69 310.70 Td (owner ) Tj ET Q q 0 0 0 rg BT 521.67 310.70 Td (of ) Tj ET Q q 0 0 0 rg BT 530.32 310.70 Td (more ) Tj ET Q q 0 0 0 rg BT 548.75 310.70 Td (than ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 301.10 Td (35%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.16 301.10 Td ( ) Tj ET Q q 0 0 0 rg BT 66.00 301.10 Td (of ) Tj ET Q q 0 0 0 rg BT 74.49 301.10 Td (our ) Tj ET Q q 0 0 0 rg BT 86.99 301.10 Td (total ) Tj ET Q q 0 0 0 rg BT 103.04 301.10 Td (voting ) Tj ET Q q 0 0 0 rg BT 125.31 301.10 Td (power; ) Tj ET Q q 0 0 0 rg BT 149.36 301.10 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 160.96 301.10 Td (we ) Tj ET Q q 0 0 0 rg BT 172.12 301.10 Td (agree ) Tj ET Q q 0 0 0 rg BT 191.27 301.10 Td (to ) Tj ET Q q 0 0 0 rg BT 199.32 301.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 212.26 301.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 254.54 301.10 Td (all ) Tj ET Q q 0 0 0 rg BT 264.36 301.10 Td (of ) Tj ET Q q 0 0 0 rg BT 272.86 301.10 Td (our ) Tj ET Q q 0 0 0 rg BT 285.35 301.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 317.39 301.10 Td (assets; ) Tj ET Q q 0 0 0 rg BT 340.11 301.10 Td (\(iii\) ) Tj ET Q q 0 0 0 rg BT 353.94 301.10 Td (there ) Tj ET Q q 0 0 0 rg BT 371.76 301.10 Td (is ) Tj ET Q q 0 0 0 rg BT 378.93 301.10 Td (a ) Tj ET Q q 0 0 0 rg BT 384.31 301.10 Td (specified ) Tj ET Q q 0 0 0 rg BT 415.01 301.10 Td (change ) Tj ET Q q 0 0 0 rg BT 439.50 301.10 Td (in ) Tj ET Q q 0 0 0 rg BT 447.55 301.10 Td (the ) Tj ET Q q 0 0 0 rg BT 459.16 301.10 Td (composition ) Tj ET Q q 0 0 0 rg BT 500.54 301.10 Td (of ) Tj ET Q q 0 0 0 rg BT 509.04 301.10 Td (a ) Tj ET Q q 0 0 0 rg BT 514.42 301.10 Td (majority ) Tj ET Q q 0 0 0 rg BT 543.35 301.10 Td (of ) Tj ET Q q 0 0 0 rg BT 551.85 301.10 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 291.50 Td (Board ) Tj ET Q q 0 0 0 rg BT 71.05 291.50 Td (of ) Tj ET Q q 0 0 0 rg BT 79.72 291.50 Td (Directors; ) Tj ET Q q 0 0 0 rg BT 113.71 291.50 Td (or ) Tj ET Q q 0 0 0 rg BT 122.38 291.50 Td (\(iv\) ) Tj ET Q q 0 0 0 rg BT 135.93 291.50 Td (the ) Tj ET Q q 0 0 0 rg BT 147.70 291.50 Td (adoption ) Tj ET Q q 0 0 0 rg BT 177.70 291.50 Td (by ) Tj ET Q q 0 0 0 rg BT 187.70 291.50 Td (our ) Tj ET Q q 0 0 0 rg BT 200.37 291.50 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 242.80 291.50 Td (of ) Tj ET Q q 0 0 0 rg BT 251.47 291.50 Td (a ) Tj ET Q q 0 0 0 rg BT 257.02 291.50 Td (plan ) Tj ET Q q 0 0 0 rg BT 272.79 291.50 Td (to ) Tj ET Q q 0 0 0 rg BT 281.02 291.50 Td (liquidate; ) Tj ET Q q 0 0 0 rg BT 313.24 291.50 Td (and ) Tj ET Q q 0 0 0 rg BT 326.79 291.50 Td (\(B\) ) Tj ET Q q 0 0 0 rg BT 339.46 291.50 Td (on ) Tj ET Q q 0 0 0 rg BT 349.46 291.50 Td (the ) Tj ET Q q 0 0 0 rg BT 361.23 291.50 Td (60th) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 375.46 295.13 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.75 291.50 Td (day ) Tj ET Q q 0 0 0 rg BT 390.31 291.50 Td (following ) Tj ET Q q 0 0 0 rg BT 423.42 291.50 Td (any ) Tj ET Q q 0 0 0 rg BT 436.97 291.50 Td (such ) Tj ET Q q 0 0 0 rg BT 453.64 291.50 Td (change ) Tj ET Q q 0 0 0 rg BT 478.29 291.50 Td (of ) Tj ET Q q 0 0 0 rg BT 486.96 291.50 Td (control ) Tj ET Q q 0 0 0 rg BT 511.62 291.50 Td (the ) Tj ET Q q 0 0 0 rg BT 523.40 291.50 Td (rating ) Tj ET Q q 0 0 0 rg BT 544.06 291.50 Td (of ) Tj ET Q q 0 0 0 rg BT 552.72 291.50 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 281.90 Td (2017PIKNotes ) Tj ET Q q 0 0 0 rg BT 102.66 281.90 Td (is ) Tj ET Q q 0 0 0 rg BT 109.61 281.90 Td (either ) Tj ET Q q 0 0 0 rg BT 129.43 281.90 Td (withdrawn ) Tj ET Q q 0 0 0 rg BT 165.25 281.90 Td (or ) Tj ET Q q 0 0 0 rg BT 173.52 281.90 Td (downgraded ) Tj ET Q q 0 0 0 rg BT 214.67 281.90 Td (from ) Tj ET Q q 0 0 0 rg BT 231.83 281.90 Td (the ) Tj ET Q q 0 0 0 rg BT 243.21 281.90 Td (rating ) Tj ET Q q 0 0 0 rg BT 263.48 281.90 Td (in ) Tj ET Q q 0 0 0 rg BT 271.31 281.90 Td (ef) Tj ET Q q 0 0 0 rg BT 277.38 281.90 Td (fect ) Tj ET Q q 0 0 0 rg BT 290.98 281.90 Td (prior ) Tj ET Q q 0 0 0 rg BT 308.14 281.90 Td (to ) Tj ET Q q 0 0 0 rg BT 315.97 281.90 Td (the ) Tj ET Q q 0 0 0 rg BT 327.35 281.90 Td (announcement ) Tj ET Q q 0 0 0 rg BT 375.61 281.90 Td (of ) Tj ET Q q 0 0 0 rg BT 383.88 281.90 Td (such ) Tj ET Q q 0 0 0 rg BT 400.16 281.90 Td (change ) Tj ET Q q 0 0 0 rg BT 424.42 281.90 Td (of ) Tj ET Q q 0 0 0 rg BT 432.69 281.90 Td (control, ) Tj ET Q q 0 0 0 rg BT 458.96 281.90 Td (we ) Tj ET Q q 0 0 0 rg BT 469.89 281.90 Td (can ) Tj ET Q q 0 0 0 rg BT 482.60 281.90 Td (be ) Tj ET Q q 0 0 0 rg BT 491.76 281.90 Td (required ) Tj ET Q q 0 0 0 rg BT 520.02 281.90 Td (to ) Tj ET Q q 0 0 0 rg BT 527.85 281.90 Td (repurchase ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 272.30 Td (the ) Tj ET Q q 0 0 0 rg BT 61.79 272.30 Td (2017 ) Tj ET Q q 0 0 0 rg BT 80.30 272.30 Td (PIK ) Tj ET Q q 0 0 0 rg BT 95.70 272.30 Td (Notes ) Tj ET Q q 0 0 0 rg BT 116.88 272.30 Td (at ) Tj ET Q q 0 0 0 rg BT 125.17 272.30 Td (a ) Tj ET Q q 0 0 0 rg BT 131.23 272.30 Td (purchase ) Tj ET Q q 0 0 0 rg BT 162.17 272.30 Td (price ) Tj ET Q q 0 0 0 rg BT 180.67 272.30 Td (in ) Tj ET Q q 0 0 0 rg BT 189.41 272.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 206.13 272.30 Td (equal ) Tj ET Q q 0 0 0 rg BT 225.97 272.30 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 234.71 272.30 Td (101%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.37 272.30 Td ( ) Tj ET Q q 0 0 0 rg BT 255.88 272.30 Td (of ) Tj ET Q q 0 0 0 rg BT 265.06 272.30 Td (the ) Tj ET Q q 0 0 0 rg BT 277.35 272.30 Td (principal ) Tj ET Q q 0 0 0 rg BT 308.29 272.30 Td (amount ) Tj ET Q q 0 0 0 rg BT 334.80 272.30 Td (of ) Tj ET Q q 0 0 0 rg BT 343.98 272.30 Td (the ) Tj ET Q q 0 0 0 rg BT 356.26 272.30 Td (2017 ) Tj ET Q q 0 0 0 rg BT 374.78 272.30 Td (PIK ) Tj ET Q q 0 0 0 rg BT 390.18 272.30 Td (Notes ) Tj ET Q q 0 0 0 rg BT 411.36 272.30 Td (plus ) Tj ET Q q 0 0 0 rg BT 427.21 272.30 Td (accrued ) Tj ET Q q 0 0 0 rg BT 454.59 272.30 Td (and ) Tj ET Q q 0 0 0 rg BT 468.65 272.30 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 492.94 272.30 Td (interest ) Tj ET Q q 0 0 0 rg BT 519.00 272.30 Td (to ) Tj ET Q q 0 0 0 rg BT 527.73 272.30 Td (the ) Tj ET Q q 0 0 0 rg BT 540.02 272.30 Td (date ) Tj ET Q q 0 0 0 rg BT 555.85 272.30 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 262.70 Td (purchase.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 247.10 Td (The ) Tj ET Q q 0 0 0 rg BT 63.94 247.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 81.94 247.10 Td (PIK ) Tj ET Q q 0 0 0 rg BT 96.83 247.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 117.49 247.10 Td (are ) Tj ET Q q 0 0 0 rg BT 129.26 247.10 Td (redeemable ) Tj ET Q q 0 0 0 rg BT 168.12 247.10 Td (at ) Tj ET Q q 0 0 0 rg BT 175.89 247.10 Td (our ) Tj ET Q q 0 0 0 rg BT 188.56 247.10 Td (option, ) Tj ET Q q 0 0 0 rg BT 213.00 247.10 Td (in ) Tj ET Q q 0 0 0 rg BT 221.23 247.10 Td (whole ) Tj ET Q q 0 0 0 rg BT 242.78 247.10 Td (or ) Tj ET Q q 0 0 0 rg BT 251.44 247.10 Td (in ) Tj ET Q q 0 0 0 rg BT 259.66 247.10 Td (part, ) Tj ET Q q 0 0 0 rg BT 276.10 247.10 Td (at ) Tj ET Q q 0 0 0 rg BT 283.88 247.10 Td (a ) Tj ET Q q 0 0 0 rg BT 289.43 247.10 Td (redemption ) Tj ET Q q 0 0 0 rg BT 327.86 247.10 Td (price ) Tj ET Q q 0 0 0 rg BT 345.85 247.10 Td (equal ) Tj ET Q q 0 0 0 rg BT 365.17 247.10 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.39 247.10 Td (100%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.06 247.10 Td ( ) Tj ET Q q 0 0 0 rg BT 394.06 247.10 Td (of ) Tj ET Q q 0 0 0 rg BT 402.72 247.10 Td (the ) Tj ET Q q 0 0 0 rg BT 414.50 247.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 444.93 247.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 470.93 247.10 Td (thereof.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 231.50 Td (Certain ) Tj ET Q q 0 0 0 rg BT 75.03 231.50 Td (derivative ) Tj ET Q q 0 0 0 rg BT 109.00 231.50 Td (instruments, ) Tj ET Q q 0 0 0 rg BT 150.31 231.50 Td (including ) Tj ET Q q 0 0 0 rg BT 182.51 231.50 Td (contingent ) Tj ET Q q 0 0 0 rg BT 218.26 231.50 Td (event ) Tj ET Q q 0 0 0 rg BT 237.57 231.50 Td (of ) Tj ET Q q 0 0 0 rg BT 246.22 231.50 Td (default ) Tj ET Q q 0 0 0 rg BT 270.41 231.50 Td (and ) Tj ET Q q 0 0 0 rg BT 283.94 231.50 Td (change ) Tj ET Q q 0 0 0 rg BT 308.58 231.50 Td (of ) Tj ET Q q 0 0 0 rg BT 317.22 231.50 Td (control ) Tj ET Q q 0 0 0 rg BT 341.87 231.50 Td (put ) Tj ET Q q 0 0 0 rg BT 354.07 231.50 Td (options, ) Tj ET Q q 0 0 0 rg BT 381.61 231.50 Td (have ) Tj ET Q q 0 0 0 rg BT 398.70 231.50 Td (been ) Tj ET Q q 0 0 0 rg BT 415.78 231.50 Td (identified ) Tj ET Q q 0 0 0 rg BT 448.42 231.50 Td (as ) Tj ET Q q 0 0 0 rg BT 457.07 231.50 Td (being ) Tj ET Q q 0 0 0 rg BT 476.82 231.50 Td (embedded ) Tj ET Q q 0 0 0 rg BT 511.68 231.50 Td (in ) Tj ET Q q 0 0 0 rg BT 519.88 231.50 Td (the ) Tj ET Q q 0 0 0 rg BT 531.64 231.50 Td (2017 ) Tj ET Q q 0 0 0 rg BT 549.62 231.50 Td (PIK ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 221.90 Td (Notes. ) Tj ET Q q 0 0 0 rg BT 72.22 221.90 Td (The ) Tj ET Q q 0 0 0 rg BT 86.88 221.90 Td (embedded ) Tj ET Q q 0 0 0 rg BT 121.97 221.90 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 159.29 221.90 Td (are ) Tj ET Q q 0 0 0 rg BT 171.27 221.90 Td (not ) Tj ET Q q 0 0 0 rg BT 183.71 221.90 Td (considered ) Tj ET Q q 0 0 0 rg BT 220.58 221.90 Td (clearly ) Tj ET Q q 0 0 0 rg BT 244.56 221.90 Td (and ) Tj ET Q q 0 0 0 rg BT 258.33 221.90 Td (closely ) Tj ET Q q 0 0 0 rg BT 283.21 221.90 Td (related ) Tj ET Q q 0 0 0 rg BT 307.18 221.90 Td (to ) Tj ET Q q 0 0 0 rg BT 315.63 221.90 Td (the ) Tj ET Q q 0 0 0 rg BT 327.62 221.90 Td (2017 ) Tj ET Q q 0 0 0 rg BT 345.83 221.90 Td (PIK ) Tj ET Q q 0 0 0 rg BT 360.94 221.90 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 383.82 221.90 Td (and ) Tj ET Q q 0 0 0 rg BT 397.59 221.90 Td (as ) Tj ET Q q 0 0 0 rg BT 406.47 221.90 Td (such ) Tj ET Q q 0 0 0 rg BT 423.36 221.90 Td (are ) Tj ET Q q 0 0 0 rg BT 435.34 221.90 Td (required ) Tj ET Q q 0 0 0 rg BT 464.21 221.90 Td (to ) Tj ET Q q 0 0 0 rg BT 472.65 221.90 Td (be ) Tj ET Q q 0 0 0 rg BT 482.42 221.90 Td (accounted ) Tj ET Q q 0 0 0 rg BT 517.06 221.90 Td (for ) Tj ET Q q 0 0 0 rg BT 528.61 221.90 Td (separately) Tj ET Q q 0 0 0 rg BT 560.51 221.90 Td (. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 212.30 Td (The ) Tj ET Q q 0 0 0 rg BT 63.94 212.30 Td (probability-weighted ) Tj ET Q q 0 0 0 rg BT 133.03 212.30 Td (fair ) Tj ET Q q 0 0 0 rg BT 146.13 212.30 Td (value ) Tj ET Q q 0 0 0 rg BT 165.46 212.30 Td (of ) Tj ET Q q 0 0 0 rg BT 174.12 212.30 Td (the ) Tj ET Q q 0 0 0 rg BT 185.89 212.30 Td (embedded ) Tj ET Q q 0 0 0 rg BT 220.77 212.30 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 257.87 212.30 Td (was ) Tj ET Q q 0 0 0 rg BT 272.31 212.30 Td (not ) Tj ET Q q 0 0 0 rg BT 284.53 212.30 Td (material ) Tj ET Q q 0 0 0 rg BT 312.74 212.30 Td (at ) Tj ET Q q 0 0 0 rg BT 320.51 212.30 Td (issuance ) Tj ET Q q 0 0 0 rg BT 349.61 212.30 Td (or ) Tj ET Q q 0 0 0 rg BT 358.28 212.30 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.05 212.30 Td (December31, ) Tj ET Q q 0 0 0 rg BT 412.92 212.30 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.92 212.30 Td (.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 193.70 Td (2017 ) Tj ET Q q 0 0 0 rg BT 67.50 193.70 Td (T) Tj ET Q q 0 0 0 rg BT 71.21 193.70 Td (erm ) Tj ET Q q 0 0 0 rg BT 85.66 193.70 Td (Loan) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 178.10 Td (As ) Tj ET Q q 0 0 0 rg BT 60.42 178.10 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.23 178.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 115.13 178.10 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 131.13 178.10 Td (, ) Tj ET Q q 0 0 0 rg BT 135.16 178.10 Td (the ) Tj ET Q q 0 0 0 rg BT 146.96 178.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 177.43 178.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 203.45 178.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 242.82 178.10 Td (of ) Tj ET Q q 0 0 0 rg BT 251.51 178.10 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 263.32 178.10 Td (15%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.98 178.10 Td ( ) Tj ET Q q 0 0 0 rg BT 280.01 178.10 Td (term ) Tj ET Q q 0 0 0 rg BT 296.70 178.10 Td (loan ) Tj ET Q q 0 0 0 rg BT 312.51 178.10 Td (facility ) Tj ET Q q 0 0 0 rg BT 337.20 178.10 Td (due ) Tj ET Q q 0 0 0 rg BT 350.78 178.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 368.81 178.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 383.28 178.10 Td ("2017 ) Tj ET Q q 0 0 0 rg BT 404.43 178.10 Td (T) Tj ET Q q 0 0 0 rg BT 408.76 178.10 Td (erm ) Tj ET Q q 0 0 0 rg BT 423.22 178.10 Td (Loan"\) ) Tj ET Q q 0 0 0 rg BT 447.62 178.10 Td (was ) Tj ET Q q 0 0 0 rg BT 462.10 178.10 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.35 178.10 Td (33.1 ) Tj ET Q q 0 0 0 rg BT 494.38 178.10 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 517.50 178.10 Td (. ) Tj ET Q q 0 0 0 rg BT 521.38 178.10 Td (The ) Tj ET Q q 0 0 0 rg BT 535.85 178.10 Td (carrying ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 168.50 Td (value ) Tj ET Q q 0 0 0 rg BT 68.81 168.50 Td (of ) Tj ET Q q 0 0 0 rg BT 77.46 168.50 Td (the ) Tj ET Q q 0 0 0 rg BT 89.21 168.50 Td (2017 ) Tj ET Q q 0 0 0 rg BT 107.06 168.50 Td (T) Tj ET Q q 0 0 0 rg BT 111.38 168.50 Td (erm ) Tj ET Q q 0 0 0 rg BT 125.81 168.50 Td (Loan ) Tj ET Q q 0 0 0 rg BT 144.23 168.50 Td (is ) Tj ET Q q 0 0 0 rg BT 151.55 168.50 Td (comprised ) Tj ET Q q 0 0 0 rg BT 186.86 168.50 Td (of ) Tj ET Q q 0 0 0 rg BT 195.50 168.50 Td (the ) Tj ET Q q 0 0 0 rg BT 207.26 168.50 Td (original ) Tj ET Q q 0 0 0 rg BT 234.13 168.50 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 273.45 168.50 Td (principal ) Tj ET Q q 0 0 0 rg BT 303.86 168.50 Td (amount ) Tj ET Q q 0 0 0 rg BT 329.84 168.50 Td (of ) Tj ET Q q 0 0 0 rg BT 338.49 168.50 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.70 168.50 Td (30.0 ) Tj ET Q q 0 0 0 rg BT 370.69 168.50 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 393.80 168.50 Td ( ) Tj ET Q q 0 0 0 rg BT 395.79 168.50 Td (less ) Tj ET Q q 0 0 0 rg BT 409.77 168.50 Td (an ) Tj ET Q q 0 0 0 rg BT 419.31 168.50 Td (issuance ) Tj ET Q q 0 0 0 rg BT 448.39 168.50 Td (discount, ) Tj ET Q q 0 0 0 rg BT 479.49 168.50 Td (plus ) Tj ET Q q 0 0 0 rg BT 494.81 168.50 Td (interest ) Tj ET Q q 0 0 0 rg BT 520.34 168.50 Td (for ) Tj ET Q q 0 0 0 rg BT 531.65 168.50 Td (which ) Tj ET Q q 0 0 0 rg BT 553.18 168.50 Td (we ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 158.90 Td (paid ) Tj ET Q q 0 0 0 rg BT 65.42 158.90 Td (in ) Tj ET Q q 0 0 0 rg BT 73.79 158.90 Td (kind. ) Tj ET Q q 0 0 0 rg BT 92.17 158.90 Td (Interest ) Tj ET Q q 0 0 0 rg BT 118.30 158.90 Td (is ) Tj ET Q q 0 0 0 rg BT 125.79 158.90 Td (payable ) Tj ET Q q 0 0 0 rg BT 152.81 158.90 Td (semi-annually ) Tj ET Q q 0 0 0 rg BT 200.28 158.90 Td (in ) Tj ET Q q 0 0 0 rg BT 208.66 158.90 Td (arrears ) Tj ET Q q 0 0 0 rg BT 232.56 158.90 Td (on ) Tj ET Q q 0 0 0 rg BT 242.71 158.90 Td (each ) Tj ET Q q 0 0 0 rg BT 259.51 158.90 Td (June ) Tj ET Q q 0 0 0 rg BT 276.33 158.90 Td (30 ) Tj ET Q q 0 0 0 rg BT 286.48 158.90 Td (and ) Tj ET Q q 0 0 0 rg BT 300.18 158.90 Td (December ) Tj ET Q q 0 0 0 rg BT 335.19 158.90 Td (31, ) Tj ET Q q 0 0 0 rg BT 347.34 158.90 Td (which ) Tj ET Q q 0 0 0 rg BT 369.04 158.90 Td (the ) Tj ET Q q 0 0 0 rg BT 380.97 158.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 414.23 158.90 Td (may ) Tj ET Q q 0 0 0 rg BT 430.15 158.90 Td (pay ) Tj ET Q q 0 0 0 rg BT 443.85 158.90 Td (in ) Tj ET Q q 0 0 0 rg BT 452.22 158.90 Td (cash ) Tj ET Q q 0 0 0 rg BT 468.58 158.90 Td (or ) Tj ET Q q 0 0 0 rg BT 477.40 158.90 Td (in ) Tj ET Q q 0 0 0 rg BT 485.77 158.90 Td (kind. ) Tj ET Q q 0 0 0 rg BT 503.99 158.90 Td (The ) Tj ET Q q 0 0 0 rg BT 518.57 158.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 551.83 158.90 Td (has ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 149.30 Td (elected ) Tj ET Q q 0 0 0 rg BT 74.99 149.30 Td (to ) Tj ET Q q 0 0 0 rg BT 84.06 149.30 Td (pay ) Tj ET Q q 0 0 0 rg BT 98.46 149.30 Td (interest ) Tj ET Q q 0 0 0 rg BT 124.85 149.30 Td (in ) Tj ET Q q 0 0 0 rg BT 133.92 149.30 Td (kind ) Tj ET Q q 0 0 0 rg BT 150.99 149.30 Td (since ) Tj ET Q q 0 0 0 rg BT 170.27 149.30 Td (the ) Tj ET Q q 0 0 0 rg BT 182.89 149.30 Td (initial ) Tj ET Q q 0 0 0 rg BT 204.40 149.30 Td (drawdown. ) Tj ET Q q 0 0 0 rg BT 242.81 149.30 Td (The ) Tj ET Q q 0 0 0 rg BT 258.09 149.30 Td (2017 ) Tj ET Q q 0 0 0 rg BT 276.73 149.30 Td (T) Tj ET Q q 0 0 0 rg BT 281.06 149.30 Td (erm ) Tj ET Q q 0 0 0 rg BT 296.34 149.30 Td (Loan ) Tj ET Q q 0 0 0 rg BT 315.63 149.30 Td (matures ) Tj ET Q q 0 0 0 rg BT 343.80 149.30 Td (on ) Tj ET Q q 0 0 0 rg BT 354.64 149.30 Td (December1,2017. ) Tj ET Q q 0 0 0 rg BT 418.15 149.30 Td (The ) Tj ET Q q 0 0 0 rg BT 433.43 149.30 Td (fair ) Tj ET Q q 0 0 0 rg BT 447.38 149.30 Td (value ) Tj ET Q q 0 0 0 rg BT 467.55 149.30 Td (of ) Tj ET Q q 0 0 0 rg BT 477.06 149.30 Td (the ) Tj ET Q q 0 0 0 rg BT 489.68 149.30 Td (2017 ) Tj ET Q q 0 0 0 rg BT 508.32 149.30 Td (T) Tj ET Q q 0 0 0 rg BT 512.65 149.30 Td (erm ) Tj ET Q q 0 0 0 rg BT 527.93 149.30 Td (Loan ) Tj ET Q q 0 0 0 rg BT 547.21 149.30 Td (as ) Tj ET Q q 0 0 0 rg BT 556.72 149.30 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 139.70 Td (December31, ) Tj ET Q q 0 0 0 rg BT 96.26 139.70 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 112.26 139.70 Td ( ) Tj ET Q q 0 0 0 rg BT 114.16 139.70 Td (of ) Tj ET Q q 0 0 0 rg BT 122.72 139.70 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 138.85 139.70 Td (35.9 ) Tj ET Q q 0 0 0 rg BT 154.75 139.70 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 177.86 139.70 Td ( ) Tj ET Q q 0 0 0 rg BT 179.76 139.70 Td (was ) Tj ET Q q 0 0 0 rg BT 194.09 139.70 Td (determined ) Tj ET Q q 0 0 0 rg BT 231.98 139.70 Td (based ) Tj ET Q q 0 0 0 rg BT 252.09 139.70 Td (on ) Tj ET Q q 0 0 0 rg BT 261.99 139.70 Td (comparable ) Tj ET Q q 0 0 0 rg BT 301.20 139.70 Td (instruments ) Tj ET Q q 0 0 0 rg BT 340.43 139.70 Td (that ) Tj ET Q q 0 0 0 rg BT 354.32 139.70 Td (trade ) Tj ET Q q 0 0 0 rg BT 372.21 139.70 Td (in ) Tj ET Q q 0 0 0 rg BT 380.33 139.70 Td (active ) Tj ET Q q 0 0 0 rg BT 401.32 139.70 Td (markets. ) Tj ET Q q 0 0 0 rg BT 430.40 139.70 Td (This ) Tj ET Q q 0 0 0 rg BT 446.52 139.70 Td (measurement ) Tj ET Q q 0 0 0 rg BT 491.07 139.70 Td (of ) Tj ET Q q 0 0 0 rg BT 499.63 139.70 Td (estimated ) Tj ET Q q 0 0 0 rg BT 532.19 139.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 545.19 139.70 Td (value ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 130.10 Td (uses ) Tj ET Q q 0 0 0 rg BT 65.28 130.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 85.49 130.10 Td (2 ) Tj ET Q q 0 0 0 rg BT 91.49 130.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 113.05 130.10 Td (as ) Tj ET Q q 0 0 0 rg BT 121.71 130.10 Td (described ) Tj ET Q q 0 0 0 rg BT 154.36 130.10 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 162.59 130.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 180.14 130.10 Td (14, ) Tj ET Q q 0 0 0 rg BT 192.14 130.10 Td ("Financial ) Tj ET Q q 0 0 0 rg BT 227.17 130.10 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 266.95 130.10 Td (and ) Tj ET Q q 0 0 0 rg BT 280.50 130.10 Td (Fair ) Tj ET Q q 0 0 0 rg BT 295.24 130.10 Td (V) Tj ET Q q 0 0 0 rg BT 300.13 130.10 Td (alue ) Tj ET Q q 0 0 0 rg BT 315.45 130.10 Td (Measurements") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.37 130.10 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 114.50 Td (The ) Tj ET Q q 0 0 0 rg BT 64.17 114.50 Td (2017 ) Tj ET Q q 0 0 0 rg BT 82.25 114.50 Td (T) Tj ET Q q 0 0 0 rg BT 86.58 114.50 Td (erm ) Tj ET Q q 0 0 0 rg BT 101.25 114.50 Td (Loan ) Tj ET Q q 0 0 0 rg BT 119.92 114.50 Td (is ) Tj ET Q q 0 0 0 rg BT 127.50 114.50 Td (jointly ) Tj ET Q q 0 0 0 rg BT 150.62 114.50 Td (and ) Tj ET Q q 0 0 0 rg BT 164.41 114.50 Td (severally ) Tj ET Q q 0 0 0 rg BT 195.52 114.50 Td (guaranteed ) Tj ET Q q 0 0 0 rg BT 232.85 114.50 Td (by ) Tj ET Q q 0 0 0 rg BT 243.08 114.50 Td (CMENV) Tj ET Q q 0 0 0 rg BT 273.83 114.50 Td ( ) Tj ET Q q 0 0 0 rg BT 276.07 114.50 Td (and ) Tj ET Q q 0 0 0 rg BT 289.85 114.50 Td (CMEBV) Tj ET Q q 0 0 0 rg BT 320.16 114.50 Td ( ) Tj ET Q q 0 0 0 rg BT 322.40 114.50 Td (and ) Tj ET Q q 0 0 0 rg BT 336.18 114.50 Td (is ) Tj ET Q q 0 0 0 rg BT 343.75 114.50 Td (secured ) Tj ET Q q 0 0 0 rg BT 370.42 114.50 Td (by ) Tj ET Q q 0 0 0 rg BT 380.66 114.50 Td (a ) Tj ET Q q 0 0 0 rg BT 386.44 114.50 Td (pledge ) Tj ET Q q 0 0 0 rg BT 410.00 114.50 Td (over ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.46 114.50 Td (100%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 445.12 114.50 Td ( ) Tj ET Q q 0 0 0 rg BT 447.36 114.50 Td (of ) Tj ET Q q 0 0 0 rg BT 456.26 114.50 Td (the ) Tj ET Q q 0 0 0 rg BT 468.27 114.50 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 507.83 114.50 Td (shares ) Tj ET Q q 0 0 0 rg BT 530.06 114.50 Td (of ) Tj ET Q q 0 0 0 rg BT 538.96 114.50 Td (each ) Tj ET Q q 0 0 0 rg BT 555.85 114.50 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 104.90 Td (CMENV) Tj ET Q q 0 0 0 rg BT 80.25 104.90 Td ( ) Tj ET Q q 0 0 0 rg BT 81.85 104.90 Td (and ) Tj ET Q q 0 0 0 rg BT 95.00 104.90 Td (CMEBV) Tj ET Q q 0 0 0 rg BT 124.42 104.90 Td (. ) Tj ET Q q 0 0 0 rg BT 127.90 104.90 Td (The ) Tj ET Q q 0 0 0 rg BT 141.94 104.90 Td (terms ) Tj ET Q q 0 0 0 rg BT 161.32 104.90 Td (of ) Tj ET Q q 0 0 0 rg BT 169.58 104.90 Td (the ) Tj ET Q q 0 0 0 rg BT 180.96 104.90 Td (2017 ) Tj ET Q q 0 0 0 rg BT 198.44 104.90 Td (T) Tj ET Q q 0 0 0 rg BT 202.77 104.90 Td (erm ) Tj ET Q q 0 0 0 rg BT 216.81 104.90 Td (Loan ) Tj ET Q q 0 0 0 rg BT 234.85 104.90 Td (contains ) Tj ET Q q 0 0 0 rg BT 263.11 104.90 Td (limitations ) Tj ET Q q 0 0 0 rg BT 298.94 104.90 Td (on ) Tj ET Q q 0 0 0 rg BT 308.54 104.90 Td (CME) Tj ET Q q 0 0 0 rg BT 328.10 104.90 Td (s ) Tj ET Q q 0 0 0 rg BT 332.81 104.90 Td (ability ) Tj ET Q q 0 0 0 rg BT 354.85 104.90 Td (to ) Tj ET Q q 0 0 0 rg BT 362.68 104.90 Td (incur ) Tj ET Q q 0 0 0 rg BT 380.72 104.90 Td (indebtedness, ) Tj ET Q q 0 0 0 rg BT 425.64 104.90 Td (incur ) Tj ET Q q 0 0 0 rg BT 443.68 104.90 Td (guarantees, ) Tj ET Q q 0 0 0 rg BT 481.49 104.90 Td (grant ) Tj ET Q q 0 0 0 rg BT 499.53 104.90 Td (liens, ) Tj ET Q q 0 0 0 rg BT 518.24 104.90 Td (pay ) Tj ET Q q 0 0 0 rg BT 531.39 104.90 Td (dividends ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 95.30 Td (or ) Tj ET Q q 0 0 0 rg BT 58.03 95.30 Td (make ) Tj ET Q q 0 0 0 rg BT 77.21 95.30 Td (other ) Tj ET Q q 0 0 0 rg BT 95.52 95.30 Td (distributions, ) Tj ET Q q 0 0 0 rg BT 139.38 95.30 Td (enter ) Tj ET Q q 0 0 0 rg BT 157.23 95.30 Td (into ) Tj ET Q q 0 0 0 rg BT 171.54 95.30 Td (certain ) Tj ET Q q 0 0 0 rg BT 195.17 95.30 Td (af) Tj ET Q q 0 0 0 rg BT 201.24 95.30 Td (filiate ) Tj ET Q q 0 0 0 rg BT 221.76 95.30 Td (transactions, ) Tj ET Q q 0 0 0 rg BT 263.83 95.30 Td (consolidate, ) Tj ET Q q 0 0 0 rg BT 304.13 95.30 Td (mer) Tj ET Q q 0 0 0 rg BT 316.42 95.30 Td (ge ) Tj ET Q q 0 0 0 rg BT 325.84 95.30 Td (or ) Tj ET Q q 0 0 0 rg BT 334.36 95.30 Td (ef) Tj ET Q q 0 0 0 rg BT 340.43 95.30 Td (fect ) Tj ET Q q 0 0 0 rg BT 354.29 95.30 Td (a ) Tj ET Q q 0 0 0 rg BT 359.70 95.30 Td (corporate ) Tj ET Q q 0 0 0 rg BT 391.77 95.30 Td (reconstruction, ) Tj ET Q q 0 0 0 rg BT 441.39 95.30 Td (make ) Tj ET Q q 0 0 0 rg BT 460.58 95.30 Td (certain ) Tj ET Q q 0 0 0 rg BT 484.20 95.30 Td (investments ) Tj ET Q q 0 0 0 rg BT 524.29 95.30 Td (acquisitions ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 85.70 Td (and ) Tj ET Q q 0 0 0 rg BT 62.63 85.70 Td (loans, ) Tj ET Q q 0 0 0 rg BT 83.09 85.70 Td (and ) Tj ET Q q 0 0 0 rg BT 96.22 85.70 Td (conduct ) Tj ET Q q 0 0 0 rg BT 123.12 85.70 Td (certain ) Tj ET Q q 0 0 0 rg BT 146.46 85.70 Td (asset ) Tj ET Q q 0 0 0 rg BT 163.59 85.70 Td (sales. ) Tj ET Q q 0 0 0 rg BT 182.60 85.70 Td (The ) Tj ET Q q 0 0 0 rg BT 196.62 85.70 Td (2017 ) Tj ET Q q 0 0 0 rg BT 214.08 85.70 Td (T) Tj ET Q q 0 0 0 rg BT 218.41 85.70 Td (erm ) Tj ET Q q 0 0 0 rg BT 232.42 85.70 Td (Loan ) Tj ET Q q 0 0 0 rg BT 250.44 85.70 Td (also ) Tj ET Q q 0 0 0 rg BT 264.90 85.70 Td (contains ) Tj ET Q q 0 0 0 rg BT 293.14 85.70 Td (maintenance ) Tj ET Q q 0 0 0 rg BT 335.14 85.70 Td (covenants ) Tj ET Q q 0 0 0 rg BT 368.70 85.70 Td (in ) Tj ET Q q 0 0 0 rg BT 376.50 85.70 Td (respect ) Tj ET Q q 0 0 0 rg BT 400.73 85.70 Td (of ) Tj ET Q q 0 0 0 rg BT 408.97 85.70 Td (interest ) Tj ET Q q 0 0 0 rg BT 434.10 85.70 Td (cover) Tj ET Q q 0 0 0 rg BT 451.54 85.70 Td (, ) Tj ET Q q 0 0 0 rg BT 455.12 85.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 470.91 85.70 Td (flow ) Tj ET Q q 0 0 0 rg BT 487.15 85.70 Td (cover ) Tj ET Q q 0 0 0 rg BT 506.50 85.70 Td (and ) Tj ET Q q 0 0 0 rg BT 519.62 85.70 Td (total ) Tj ET Q q 0 0 0 rg BT 535.42 85.70 Td (leverage ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 76.10 Td (ratios, ) Tj ET Q q 0 0 0 rg BT 70.72 76.10 Td (and ) Tj ET Q q 0 0 0 rg BT 83.71 76.10 Td (has ) Tj ET Q q 0 0 0 rg BT 95.82 76.10 Td (more ) Tj ET Q q 0 0 0 rg BT 113.71 76.10 Td (restrictive ) Tj ET Q q 0 0 0 rg BT 147.14 76.10 Td (provisions, ) Tj ET Q q 0 0 0 rg BT 183.92 76.10 Td (including ) Tj ET Q q 0 0 0 rg BT 215.58 76.10 Td (covenants ) Tj ET Q q 0 0 0 rg BT 249.02 76.10 Td (in ) Tj ET Q q 0 0 0 rg BT 256.68 76.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 280.78 76.10 Td (of ) Tj ET Q q 0 0 0 rg BT 288.89 76.10 Td (incurring ) Tj ET Q q 0 0 0 rg BT 319.66 76.10 Td (indebtedness, ) Tj ET Q q 0 0 0 rg BT 364.43 76.10 Td (the ) Tj ET Q q 0 0 0 rg BT 375.65 76.10 Td (provision ) Tj ET Q q 0 0 0 rg BT 407.32 76.10 Td (of ) Tj ET Q q 0 0 0 rg BT 415.43 76.10 Td (guarantees, ) Tj ET Q q 0 0 0 rg BT 453.07 76.10 Td (making ) Tj ET Q q 0 0 0 rg BT 478.52 76.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 518.18 76.10 Td (and ) Tj ET Q q 0 0 0 rg BT 531.18 76.10 Td (disposals, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 66.50 Td (granting ) Tj ET Q q 0 0 0 rg BT 78.16 66.50 Td (security ) Tj ET Q q 0 0 0 rg BT 105.48 66.50 Td (and ) Tj ET Q q 0 0 0 rg BT 119.04 66.50 Td (certain ) Tj ET Q q 0 0 0 rg BT 142.80 66.50 Td (events ) Tj ET Q q 0 0 0 rg BT 165.23 66.50 Td (of ) Tj ET Q q 0 0 0 rg BT 173.90 66.50 Td (defaults, ) Tj ET Q q 0 0 0 rg BT 203.22 66.50 Td (than ) Tj ET Q q 0 0 0 rg BT 219.00 66.50 Td (corresponding ) Tj ET Q q 0 0 0 rg BT 266.76 66.50 Td (provisions ) Tj ET Q q 0 0 0 rg BT 302.10 66.50 Td (contained ) Tj ET Q q 0 0 0 rg BT 335.20 66.50 Td (in ) Tj ET Q q 0 0 0 rg BT 343.42 66.50 Td (the ) Tj ET Q q 0 0 0 rg BT 355.19 66.50 Td (indenture ) Tj ET Q q 0 0 0 rg BT 387.40 66.50 Td (governing ) Tj ET Q q 0 0 0 rg BT 421.84 66.50 Td (the ) Tj ET Q q 0 0 0 rg BT 433.61 66.50 Td (2017 ) Tj ET Q q 0 0 0 rg BT 451.61 66.50 Td (PIK ) Tj ET Q q 0 0 0 rg BT 466.50 66.50 Td (Notes.) Tj ET Q endstream endobj 127 0 obj <>] /Rotate 0 /Contents 128 0 R>> endobj 128 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (61) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 723.50 Td (Under ) Tj ET Q q 0 0 0 rg BT 71.00 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 82.29 723.50 Td (terms ) Tj ET Q q 0 0 0 rg BT 101.57 723.50 Td (of ) Tj ET Q q 0 0 0 rg BT 109.74 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 121.03 723.50 Td (2017 ) Tj ET Q q 0 0 0 rg BT 138.43 723.50 Td (T) Tj ET Q q 0 0 0 rg BT 142.75 723.50 Td (erm ) Tj ET Q q 0 0 0 rg BT 156.70 723.50 Td (Loan, ) Tj ET Q q 0 0 0 rg BT 176.65 723.50 Td (we ) Tj ET Q q 0 0 0 rg BT 187.49 723.50 Td (are ) Tj ET Q q 0 0 0 rg BT 198.76 723.50 Td (permitted ) Tj ET Q q 0 0 0 rg BT 230.93 723.50 Td (to ) Tj ET Q q 0 0 0 rg BT 238.66 723.50 Td (prepay ) Tj ET Q q 0 0 0 rg BT 261.94 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 273.22 723.50 Td (2017 ) Tj ET Q q 0 0 0 rg BT 290.62 723.50 Td (T) Tj ET Q q 0 0 0 rg BT 294.95 723.50 Td (erm ) Tj ET Q q 0 0 0 rg BT 308.90 723.50 Td (Loan ) Tj ET Q q 0 0 0 rg BT 326.84 723.50 Td (in ) Tj ET Q q 0 0 0 rg BT 334.58 723.50 Td (whole, ) Tj ET Q q 0 0 0 rg BT 357.64 723.50 Td (but ) Tj ET Q q 0 0 0 rg BT 369.37 723.50 Td (not ) Tj ET Q q 0 0 0 rg BT 381.10 723.50 Td (in ) Tj ET Q q 0 0 0 rg BT 388.83 723.50 Td (part, ) Tj ET Q q 0 0 0 rg BT 404.78 723.50 Td (subject ) Tj ET Q q 0 0 0 rg BT 428.95 723.50 Td (to ) Tj ET Q q 0 0 0 rg BT 436.68 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 447.97 723.50 Td (concurrent ) Tj ET Q q 0 0 0 rg BT 483.68 723.50 Td (repayment ) Tj ET Q q 0 0 0 rg BT 518.95 723.50 Td (and ) Tj ET Q q 0 0 0 rg BT 532.01 723.50 Td (dischar) Tj ET Q q 0 0 0 rg BT 554.97 723.50 Td (ge ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 713.90 Td (of ) Tj ET Q q 0 0 0 rg BT 58.16 713.90 Td (the ) Tj ET Q q 0 0 0 rg BT 69.94 713.90 Td (2017 ) Tj ET Q q 0 0 0 rg BT 87.94 713.90 Td (PIK ) Tj ET Q q 0 0 0 rg BT 102.83 713.90 Td (Notes. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 698.30 Td (Certain ) Tj ET Q q 0 0 0 rg BT 74.87 698.30 Td (derivative ) Tj ET Q q 0 0 0 rg BT 108.67 698.30 Td (instruments, ) Tj ET Q q 0 0 0 rg BT 149.82 698.30 Td (including ) Tj ET Q q 0 0 0 rg BT 181.86 698.30 Td (contingent ) Tj ET Q q 0 0 0 rg BT 217.45 698.30 Td (event ) Tj ET Q q 0 0 0 rg BT 236.59 698.30 Td (of ) Tj ET Q q 0 0 0 rg BT 245.08 698.30 Td (default ) Tj ET Q q 0 0 0 rg BT 269.11 698.30 Td (and ) Tj ET Q q 0 0 0 rg BT 282.48 698.30 Td (change ) Tj ET Q q 0 0 0 rg BT 306.95 698.30 Td (of ) Tj ET Q q 0 0 0 rg BT 315.43 698.30 Td (control ) Tj ET Q q 0 0 0 rg BT 339.91 698.30 Td (put ) Tj ET Q q 0 0 0 rg BT 351.95 698.30 Td (options, ) Tj ET Q q 0 0 0 rg BT 379.33 698.30 Td (have ) Tj ET Q q 0 0 0 rg BT 396.25 698.30 Td (been ) Tj ET Q q 0 0 0 rg BT 413.17 698.30 Td (identified ) Tj ET Q q 0 0 0 rg BT 445.65 698.30 Td (as ) Tj ET Q q 0 0 0 rg BT 454.13 698.30 Td (being ) Tj ET Q q 0 0 0 rg BT 473.72 698.30 Td (embedded ) Tj ET Q q 0 0 0 rg BT 508.42 698.30 Td (in ) Tj ET Q q 0 0 0 rg BT 516.46 698.30 Td (the ) Tj ET Q q 0 0 0 rg BT 528.05 698.30 Td (2017 ) Tj ET Q q 0 0 0 rg BT 545.74 698.30 Td (T) Tj ET Q q 0 0 0 rg BT 550.07 698.30 Td (erm ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 688.70 Td (Loan. ) Tj ET Q q 0 0 0 rg BT 70.02 688.70 Td (The ) Tj ET Q q 0 0 0 rg BT 84.71 688.70 Td (embedded ) Tj ET Q q 0 0 0 rg BT 119.83 688.70 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 157.17 688.70 Td (are ) Tj ET Q q 0 0 0 rg BT 169.19 688.70 Td (not ) Tj ET Q q 0 0 0 rg BT 181.66 688.70 Td (considered ) Tj ET Q q 0 0 0 rg BT 218.56 688.70 Td (clearly ) Tj ET Q q 0 0 0 rg BT 242.56 688.70 Td (and ) Tj ET Q q 0 0 0 rg BT 256.36 688.70 Td (closely ) Tj ET Q q 0 0 0 rg BT 281.27 688.70 Td (related ) Tj ET Q q 0 0 0 rg BT 305.28 688.70 Td (to ) Tj ET Q q 0 0 0 rg BT 313.75 688.70 Td (the ) Tj ET Q q 0 0 0 rg BT 325.77 688.70 Td (2017 ) Tj ET Q q 0 0 0 rg BT 343.85 688.70 Td (T) Tj ET Q q 0 0 0 rg BT 348.18 688.70 Td (erm ) Tj ET Q q 0 0 0 rg BT 362.87 688.70 Td (Loan, ) Tj ET Q q 0 0 0 rg BT 383.55 688.70 Td (and ) Tj ET Q q 0 0 0 rg BT 397.35 688.70 Td (as ) Tj ET Q q 0 0 0 rg BT 406.26 688.70 Td (such ) Tj ET Q q 0 0 0 rg BT 423.17 688.70 Td (are ) Tj ET Q q 0 0 0 rg BT 435.18 688.70 Td (required ) Tj ET Q q 0 0 0 rg BT 464.08 688.70 Td (to ) Tj ET Q q 0 0 0 rg BT 472.55 688.70 Td (be ) Tj ET Q q 0 0 0 rg BT 482.35 688.70 Td (accounted ) Tj ET Q q 0 0 0 rg BT 517.02 688.70 Td (for ) Tj ET Q q 0 0 0 rg BT 528.60 688.70 Td (separately) Tj ET Q q 0 0 0 rg BT 560.50 688.70 Td (. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 679.10 Td (The ) Tj ET Q q 0 0 0 rg BT 63.94 679.10 Td (probability-weighted ) Tj ET Q q 0 0 0 rg BT 133.03 679.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 146.13 679.10 Td (value ) Tj ET Q q 0 0 0 rg BT 165.46 679.10 Td (of ) Tj ET Q q 0 0 0 rg BT 174.12 679.10 Td (the ) Tj ET Q q 0 0 0 rg BT 185.89 679.10 Td (embedded ) Tj ET Q q 0 0 0 rg BT 220.77 679.10 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 257.87 679.10 Td (was ) Tj ET Q q 0 0 0 rg BT 272.31 679.10 Td (not ) Tj ET Q q 0 0 0 rg BT 284.53 679.10 Td (material ) Tj ET Q q 0 0 0 rg BT 312.74 679.10 Td (at ) Tj ET Q q 0 0 0 rg BT 320.51 679.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 349.61 679.10 Td (or ) Tj ET Q q 0 0 0 rg BT 358.28 679.10 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.05 679.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 412.92 679.10 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.92 679.10 Td (.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 660.50 Td (2017 ) Tj ET Q q 0 0 0 rg BT 67.50 660.50 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 101.48 660.50 Td (Cr) Tj ET Q q 0 0 0 rg BT 109.64 660.50 Td (edit ) Tj ET Q q 0 0 0 rg BT 123.63 660.50 Td (Facility) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 644.90 Td (As ) Tj ET Q q 0 0 0 rg BT 60.67 644.90 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.73 644.90 Td (December31, ) Tj ET Q q 0 0 0 rg BT 115.88 644.90 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 131.88 644.90 Td (, ) Tj ET Q q 0 0 0 rg BT 136.16 644.90 Td (we ) Tj ET Q q 0 0 0 rg BT 147.78 644.90 Td (had ) Tj ET Q q 0 0 0 rg BT 161.61 644.90 Td (drawings ) Tj ET Q q 0 0 0 rg BT 193.22 644.90 Td (of ) Tj ET Q q 0 0 0 rg BT 202.17 644.90 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 218.68 644.90 Td (25.0 ) Tj ET Q q 0 0 0 rg BT 234.96 644.90 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 258.07 644.90 Td ( ) Tj ET Q q 0 0 0 rg BT 260.36 644.90 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 299.97 644.90 Td (under ) Tj ET Q q 0 0 0 rg BT 320.47 644.90 Td (the ) Tj ET Q q 0 0 0 rg BT 332.53 644.90 Td (2017 ) Tj ET Q q 0 0 0 rg BT 350.81 644.90 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 386.43 644.90 Td (Credit ) Tj ET Q q 0 0 0 rg BT 408.71 644.90 Td (Facility) Tj ET Q q 0 0 0 rg BT 432.63 644.90 Td (. ) Tj ET Q q 0 0 0 rg BT 436.75 644.90 Td (The ) Tj ET Q q 0 0 0 rg BT 451.47 644.90 Td (2017 ) Tj ET Q q 0 0 0 rg BT 469.75 644.90 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 505.36 644.90 Td (Credit ) Tj ET Q q 0 0 0 rg BT 527.64 644.90 Td (Facility) Tj ET Q q 0 0 0 rg BT 551.57 644.90 Td (, ) Tj ET Q q 0 0 0 rg BT 555.85 644.90 Td (as ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 635.30 Td (amended ) Tj ET Q q 0 0 0 rg BT 80.22 635.30 Td (on ) Tj ET Q q 0 0 0 rg BT 90.06 635.30 Td (November ) Tj ET Q q 0 0 0 rg BT 125.67 635.30 Td (14, ) Tj ET Q q 0 0 0 rg BT 137.52 635.30 Td (2014, ) Tj ET Q q 0 0 0 rg BT 157.36 635.30 Td (bears ) Tj ET Q q 0 0 0 rg BT 176.08 635.30 Td (interest ) Tj ET Q q 0 0 0 rg BT 201.47 635.30 Td (at ) Tj ET Q q 0 0 0 rg BT 209.09 635.30 Td (a ) Tj ET Q q 0 0 0 rg BT 214.48 635.30 Td (rate ) Tj ET Q q 0 0 0 rg BT 228.32 635.30 Td (per ) Tj ET Q q 0 0 0 rg BT 240.38 635.30 Td (annum ) Tj ET Q q 0 0 0 rg BT 263.99 635.30 Td (based ) Tj ET Q q 0 0 0 rg BT 284.05 635.30 Td (on, ) Tj ET Q q 0 0 0 rg BT 295.89 635.30 Td (at ) Tj ET Q q 0 0 0 rg BT 303.51 635.30 Td (our ) Tj ET Q q 0 0 0 rg BT 316.02 635.30 Td (option, ) Tj ET Q q 0 0 0 rg BT 340.31 635.30 Td (an ) Tj ET Q q 0 0 0 rg BT 349.70 635.30 Td (alternative ) Tj ET Q q 0 0 0 rg BT 385.30 635.30 Td (base ) Tj ET Q q 0 0 0 rg BT 401.36 635.30 Td (rate ) Tj ET Q q 0 0 0 rg BT 415.20 635.30 Td (plus) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.53 635.30 Td (8.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.20 635.30 Td (or ) Tj ET Q q 0 0 0 rg BT 457.70 635.30 Td (an ) Tj ET Q q 0 0 0 rg BT 467.10 635.30 Td (amount ) Tj ET Q q 0 0 0 rg BT 492.94 635.30 Td (equal ) Tj ET Q q 0 0 0 rg BT 512.11 635.30 Td (to ) Tj ET Q q 0 0 0 rg BT 520.17 635.30 Td (the ) Tj ET Q q 0 0 0 rg BT 531.79 635.30 Td (greater ) Tj ET Q q 0 0 0 rg BT 555.84 635.30 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 625.70 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 58.94 625.70 Td (an ) Tj ET Q q 0 0 0 rg BT 68.38 625.70 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 96.93 625.70 Td (LIBO ) Tj ET Q q 0 0 0 rg BT 117.49 625.70 Td (rate ) Tj ET Q q 0 0 0 rg BT 131.37 625.70 Td (and ) Tj ET Q q 0 0 0 rg BT 144.81 625.70 Td (\(ii\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 154.58 625.70 Td (1.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 171.25 625.70 Td (, ) Tj ET Q q 0 0 0 rg BT 175.14 625.70 Td (plus, ) Tj ET Q q 0 0 0 rg BT 192.36 625.70 Td (in ) Tj ET Q q 0 0 0 rg BT 200.48 625.70 Td (each ) Tj ET Q q 0 0 0 rg BT 217.02 625.70 Td (case,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 234.79 625.70 Td (9.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 251.45 625.70 Td (, ) Tj ET Q q 0 0 0 rg BT 255.34 625.70 Td (which ) Tj ET Q q 0 0 0 rg BT 276.78 625.70 Td (the ) Tj ET Q q 0 0 0 rg BT 288.45 625.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 321.45 625.70 Td (may ) Tj ET Q q 0 0 0 rg BT 337.11 625.70 Td (pay ) Tj ET Q q 0 0 0 rg BT 350.55 625.70 Td (in ) Tj ET Q q 0 0 0 rg BT 358.66 625.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 374.77 625.70 Td (or ) Tj ET Q q 0 0 0 rg BT 383.32 625.70 Td (in ) Tj ET Q q 0 0 0 rg BT 391.44 625.70 Td (kind ) Tj ET Q q 0 0 0 rg BT 407.55 625.70 Td (by ) Tj ET Q q 0 0 0 rg BT 417.44 625.70 Td (adding ) Tj ET Q q 0 0 0 rg BT 441.11 625.70 Td (such ) Tj ET Q q 0 0 0 rg BT 457.66 625.70 Td (accrued ) Tj ET Q q 0 0 0 rg BT 484.42 625.70 Td (interest ) Tj ET Q q 0 0 0 rg BT 509.86 625.70 Td (to ) Tj ET Q q 0 0 0 rg BT 517.97 625.70 Td (the ) Tj ET Q q 0 0 0 rg BT 529.63 625.70 Td (applicable ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 616.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 79.67 616.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 105.41 616.10 Td (drawn ) Tj ET Q q 0 0 0 rg BT 127.15 616.10 Td (under ) Tj ET Q q 0 0 0 rg BT 147.10 616.10 Td (the ) Tj ET Q q 0 0 0 rg BT 158.62 616.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 176.36 616.10 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 211.43 616.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 233.17 616.10 Td (Facility) Tj ET Q q 0 0 0 rg BT 257.09 616.10 Td (. ) Tj ET Q q 0 0 0 rg BT 260.45 616.10 Td (As ) Tj ET Q q 0 0 0 rg BT 271.08 616.10 Td (at ) Tj ET Q q 0 0 0 rg BT 278.59 616.10 Td (December ) Tj ET Q q 0 0 0 rg BT 313.20 616.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 324.94 616.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 344.68 616.10 Td (the ) Tj ET Q q 0 0 0 rg BT 356.20 616.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 387.26 616.10 Td (average ) Tj ET Q q 0 0 0 rg BT 413.87 616.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 439.16 616.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 452.89 616.10 Td (on ) Tj ET Q q 0 0 0 rg BT 462.63 616.10 Td (drawings ) Tj ET Q q 0 0 0 rg BT 493.70 616.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 532.77 616.10 Td (under ) Tj ET Q q 0 0 0 rg BT 552.73 616.10 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 606.50 Td (2017 ) Tj ET Q q 0 0 0 rg BT 67.89 606.50 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 103.61 606.50 Td (Credit ) Tj ET Q q 0 0 0 rg BT 125.99 606.50 Td (Facility ) Tj ET Q q 0 0 0 rg BT 152.82 606.50 Td (was ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 167.64 606.50 Td (10.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 188.31 606.50 Td (. ) Tj ET Q q 0 0 0 rg BT 192.52 606.50 Td (The ) Tj ET Q q 0 0 0 rg BT 207.35 606.50 Td (2017 ) Tj ET Q q 0 0 0 rg BT 225.73 606.50 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 261.45 606.50 Td (Credit ) Tj ET Q q 0 0 0 rg BT 283.84 606.50 Td (Facility ) Tj ET Q q 0 0 0 rg BT 310.66 606.50 Td (matures ) Tj ET Q q 0 0 0 rg BT 338.37 606.50 Td (on ) Tj ET Q q 0 0 0 rg BT 348.76 606.50 Td (December ) Tj ET Q q 0 0 0 rg BT 384.02 606.50 Td (1, ) Tj ET Q q 0 0 0 rg BT 392.40 606.50 Td (2017. ) Tj ET Q q 0 0 0 rg BT 412.79 606.50 Td (Due ) Tj ET Q q 0 0 0 rg BT 428.50 606.50 Td (to ) Tj ET Q q 0 0 0 rg BT 437.11 606.50 Td (the ) Tj ET Q q 0 0 0 rg BT 449.27 606.50 Td (proximity ) Tj ET Q q 0 0 0 rg BT 483.21 606.50 Td (of ) Tj ET Q q 0 0 0 rg BT 492.27 606.50 Td (the ) Tj ET Q q 0 0 0 rg BT 504.43 606.50 Td (amendment ) Tj ET Q q 0 0 0 rg BT 544.13 606.50 Td (to ) Tj ET Q q 0 0 0 rg BT 552.74 606.50 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 596.90 Td (agreement ) Tj ET Q q 0 0 0 rg BT 85.10 596.90 Td (underlying ) Tj ET Q q 0 0 0 rg BT 122.05 596.90 Td (the ) Tj ET Q q 0 0 0 rg BT 134.11 596.90 Td (2017 ) Tj ET Q q 0 0 0 rg BT 152.40 596.90 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 188.02 596.90 Td (Credit ) Tj ET Q q 0 0 0 rg BT 210.31 596.90 Td (Facility ) Tj ET Q q 0 0 0 rg BT 237.04 596.90 Td (to ) Tj ET Q q 0 0 0 rg BT 245.55 596.90 Td (December ) Tj ET Q q 0 0 0 rg BT 280.71 596.90 Td (31, ) Tj ET Q q 0 0 0 rg BT 293.00 596.90 Td (2014, ) Tj ET Q q 0 0 0 rg BT 313.29 596.90 Td (we ) Tj ET Q q 0 0 0 rg BT 324.90 596.90 Td (are ) Tj ET Q q 0 0 0 rg BT 336.96 596.90 Td (not ) Tj ET Q q 0 0 0 rg BT 349.47 596.90 Td (aware ) Tj ET Q q 0 0 0 rg BT 370.85 596.90 Td (of ) Tj ET Q q 0 0 0 rg BT 379.80 596.90 Td (any ) Tj ET Q q 0 0 0 rg BT 393.64 596.90 Td (evidence ) Tj ET Q q 0 0 0 rg BT 424.36 596.90 Td (that ) Tj ET Q q 0 0 0 rg BT 438.64 596.90 Td (indicates ) Tj ET Q q 0 0 0 rg BT 469.37 596.90 Td (the ) Tj ET Q q 0 0 0 rg BT 481.43 596.90 Td (fair ) Tj ET Q q 0 0 0 rg BT 494.82 596.90 Td (value ) Tj ET Q q 0 0 0 rg BT 514.43 596.90 Td (is ) Tj ET Q q 0 0 0 rg BT 522.06 596.90 Td (substantially ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 587.30 Td (dif) Tj ET Q q 0 0 0 rg BT 58.24 587.30 Td (ferent ) Tj ET Q q 0 0 0 rg BT 78.81 587.30 Td (than ) Tj ET Q q 0 0 0 rg BT 94.50 587.30 Td (the ) Tj ET Q q 0 0 0 rg BT 106.19 587.30 Td (carrying ) Tj ET Q q 0 0 0 rg BT 134.75 587.30 Td (value ) Tj ET Q q 0 0 0 rg BT 153.99 587.30 Td (of ) Tj ET Q q 0 0 0 rg BT 162.57 587.30 Td (the ) Tj ET Q q 0 0 0 rg BT 174.26 587.30 Td (2017 ) Tj ET Q q 0 0 0 rg BT 192.18 587.30 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 227.42 587.30 Td (Credit ) Tj ET Q q 0 0 0 rg BT 249.33 587.30 Td (Facility ) Tj ET Q q 0 0 0 rg BT 275.69 587.30 Td (as ) Tj ET Q q 0 0 0 rg BT 284.27 587.30 Td (atDecember ) Tj ET Q q 0 0 0 rg BT 326.83 587.30 Td (31, ) Tj ET Q q 0 0 0 rg BT 338.74 587.30 Td (2014. ) Tj ET Q q 0 0 0 rg BT 358.52 587.30 Td (This ) Tj ET Q q 0 0 0 rg BT 374.65 587.30 Td (measurement ) Tj ET Q q 0 0 0 rg BT 419.22 587.30 Td (of ) Tj ET Q q 0 0 0 rg BT 427.80 587.30 Td (estimated ) Tj ET Q q 0 0 0 rg BT 460.37 587.30 Td (fair ) Tj ET Q q 0 0 0 rg BT 473.39 587.30 Td (value ) Tj ET Q q 0 0 0 rg BT 492.62 587.30 Td (uses ) Tj ET Q q 0 0 0 rg BT 508.32 587.30 Td (Level ) Tj ET Q q 0 0 0 rg BT 528.44 587.30 Td (3 ) Tj ET Q q 0 0 0 rg BT 534.36 587.30 Td (inputs ) Tj ET Q q 0 0 0 rg BT 555.83 587.30 Td (as ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 577.70 Td (described ) Tj ET Q q 0 0 0 rg BT 82.15 577.70 Td (in) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 90.38 577.70 Td (Note ) Tj ET Q q 0 0 0 rg BT 107.93 577.70 Td (14, ) Tj ET Q q 0 0 0 rg BT 119.93 577.70 Td ("Financial ) Tj ET Q q 0 0 0 rg BT 154.96 577.70 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 194.73 577.70 Td (and ) Tj ET Q q 0 0 0 rg BT 208.29 577.70 Td (Fair ) Tj ET Q q 0 0 0 rg BT 223.03 577.70 Td (V) Tj ET Q q 0 0 0 rg BT 227.92 577.70 Td (alue ) Tj ET Q q 0 0 0 rg BT 243.24 577.70 Td (Measurements") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.16 577.70 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 562.10 Td (The ) Tj ET Q q 0 0 0 rg BT 63.68 562.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 81.43 562.10 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 116.50 562.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 138.25 562.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 164.43 562.10 Td (is ) Tj ET Q q 0 0 0 rg BT 171.51 562.10 Td (jointly ) Tj ET Q q 0 0 0 rg BT 194.15 562.10 Td (and ) Tj ET Q q 0 0 0 rg BT 207.45 562.10 Td (severally ) Tj ET Q q 0 0 0 rg BT 238.07 562.10 Td (guaranteed ) Tj ET Q q 0 0 0 rg BT 274.90 562.10 Td (by ) Tj ET Q q 0 0 0 rg BT 284.65 562.10 Td (CMENV) Tj ET Q q 0 0 0 rg BT 315.39 562.10 Td ( ) Tj ET Q q 0 0 0 rg BT 317.14 562.10 Td (and ) Tj ET Q q 0 0 0 rg BT 330.43 562.10 Td (CMEBV) Tj ET Q q 0 0 0 rg BT 360.74 562.10 Td ( ) Tj ET Q q 0 0 0 rg BT 362.48 562.10 Td (and ) Tj ET Q q 0 0 0 rg BT 375.78 562.10 Td (is ) Tj ET Q q 0 0 0 rg BT 382.86 562.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 409.03 562.10 Td (by ) Tj ET Q q 0 0 0 rg BT 418.78 562.10 Td (a ) Tj ET Q q 0 0 0 rg BT 424.08 562.10 Td (pledge ) Tj ET Q q 0 0 0 rg BT 447.14 562.10 Td (over ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.10 562.10 Td (100%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.77 562.10 Td ( ) Tj ET Q q 0 0 0 rg BT 483.51 562.10 Td (of ) Tj ET Q q 0 0 0 rg BT 491.92 562.10 Td (the ) Tj ET Q q 0 0 0 rg BT 503.44 562.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 542.52 562.10 Td (shares ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 552.50 Td (of ) Tj ET Q q 0 0 0 rg BT 58.16 552.50 Td (each ) Tj ET Q q 0 0 0 rg BT 74.82 552.50 Td (of ) Tj ET Q q 0 0 0 rg BT 83.48 552.50 Td (CMENV) Tj ET Q q 0 0 0 rg BT 114.23 552.50 Td ( ) Tj ET Q q 0 0 0 rg BT 116.23 552.50 Td (and ) Tj ET Q q 0 0 0 rg BT 129.78 552.50 Td (CMEBV) Tj ET Q q 0 0 0 rg BT 159.20 552.50 Td (. ) Tj ET Q q 0 0 0 rg BT 163.05 552.50 Td (The ) Tj ET Q q 0 0 0 rg BT 177.49 552.50 Td (covenants ) Tj ET Q q 0 0 0 rg BT 211.48 552.50 Td (and ) Tj ET Q q 0 0 0 rg BT 225.03 552.50 Td (events ) Tj ET Q q 0 0 0 rg BT 247.46 552.50 Td (of ) Tj ET Q q 0 0 0 rg BT 256.13 552.50 Td (default ) Tj ET Q q 0 0 0 rg BT 280.34 552.50 Td (are ) Tj ET Q q 0 0 0 rg BT 292.11 552.50 Td (substantially ) Tj ET Q q 0 0 0 rg BT 334.55 552.50 Td (the ) Tj ET Q q 0 0 0 rg BT 346.32 552.50 Td (same ) Tj ET Q q 0 0 0 rg BT 364.76 552.50 Td (as ) Tj ET Q q 0 0 0 rg BT 373.42 552.50 Td (under ) Tj ET Q q 0 0 0 rg BT 393.64 552.50 Td (the ) Tj ET Q q 0 0 0 rg BT 405.41 552.50 Td (2017 ) Tj ET Q q 0 0 0 rg BT 423.27 552.50 Td (T) Tj ET Q q 0 0 0 rg BT 427.59 552.50 Td (erm ) Tj ET Q q 0 0 0 rg BT 442.03 552.50 Td (Loan.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 536.90 Td (Each ) Tj ET Q q 0 0 0 rg BT 67.10 536.90 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 102.04 536.90 Td (under ) Tj ET Q q 0 0 0 rg BT 121.86 536.90 Td (the ) Tj ET Q q 0 0 0 rg BT 133.24 536.90 Td (2017 ) Tj ET Q q 0 0 0 rg BT 150.85 536.90 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 185.79 536.90 Td (Credit ) Tj ET Q q 0 0 0 rg BT 207.40 536.90 Td (Facility ) Tj ET Q q 0 0 0 rg BT 233.45 536.90 Td (must ) Tj ET Q q 0 0 0 rg BT 250.62 536.90 Td (be ) Tj ET Q q 0 0 0 rg BT 259.78 536.90 Td (in ) Tj ET Q q 0 0 0 rg BT 267.61 536.90 Td (integral ) Tj ET Q q 0 0 0 rg BT 293.65 536.90 Td (multiples ) Tj ET Q q 0 0 0 rg BT 325.04 536.90 Td (of ) Tj ET Q q 0 0 0 rg BT 333.31 536.90 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.15 536.90 Td (1.0 ) Tj ET Q q 0 0 0 rg BT 360.76 536.90 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 383.87 536.90 Td ( ) Tj ET Q q 0 0 0 rg BT 385.48 536.90 Td (and ) Tj ET Q q 0 0 0 rg BT 398.64 536.90 Td (not ) Tj ET Q q 0 0 0 rg BT 410.47 536.90 Td (less ) Tj ET Q q 0 0 0 rg BT 424.08 536.90 Td (than ) Tj ET Q q 0 0 0 rg BT 439.46 536.90 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 536.90 Td (20.0 ) Tj ET Q q 0 0 0 rg BT 470.91 536.90 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.02 536.90 Td (. ) Tj ET Q q 0 0 0 rg BT 497.52 536.90 Td (The ) Tj ET Q q 0 0 0 rg BT 511.56 536.90 Td (2017 ) Tj ET Q q 0 0 0 rg BT 529.17 536.90 Td (Revolving ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 527.30 Td (Credit ) Tj ET Q q 0 0 0 rg BT 71.50 527.30 Td (Facility ) Tj ET Q q 0 0 0 rg BT 97.94 527.30 Td (permits ) Tj ET Q q 0 0 0 rg BT 123.93 527.30 Td (prepayment ) Tj ET Q q 0 0 0 rg BT 163.70 527.30 Td (at ) Tj ET Q q 0 0 0 rg BT 171.47 527.30 Td (our ) Tj ET Q q 0 0 0 rg BT 184.13 527.30 Td (option ) Tj ET Q q 0 0 0 rg BT 206.58 527.30 Td (in ) Tj ET Q q 0 0 0 rg BT 214.80 527.30 Td (whole ) Tj ET Q q 0 0 0 rg BT 236.35 527.30 Td (or ) Tj ET Q q 0 0 0 rg BT 245.02 527.30 Td (in ) Tj ET Q q 0 0 0 rg BT 253.24 527.30 Td (part ) Tj ET Q q 0 0 0 rg BT 267.68 527.30 Td (without ) Tj ET Q q 0 0 0 rg BT 294.12 527.30 Td (penalty) Tj ET Q q 0 0 0 rg BT 317.15 527.30 Td (.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 508.70 Td (2017 ) Tj ET Q q 0 0 0 rg BT 67.50 508.70 Td (Eur) Tj ET Q q 0 0 0 rg BT 79.20 508.70 Td (o ) Tj ET Q q 0 0 0 rg BT 85.20 508.70 Td (T) Tj ET Q q 0 0 0 rg BT 88.92 508.70 Td (erm ) Tj ET Q q 0 0 0 rg BT 103.36 508.70 Td (Loan) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 493.10 Td (As ) Tj ET Q q 0 0 0 rg BT 60.49 493.10 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.35 493.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 115.32 493.10 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 131.32 493.10 Td (, ) Tj ET Q q 0 0 0 rg BT 135.41 493.10 Td (the ) Tj ET Q q 0 0 0 rg BT 147.28 493.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 177.81 493.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 203.90 493.10 Td (of ) Tj ET Q q 0 0 0 rg BT 212.66 493.10 Td (the ) Tj ET Q q 0 0 0 rg BT 224.52 493.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 242.62 493.10 Td (Euro ) Tj ET Q q 0 0 0 rg BT 260.11 493.10 Td (T) Tj ET Q q 0 0 0 rg BT 264.44 493.10 Td (erm ) Tj ET Q q 0 0 0 rg BT 278.97 493.10 Td (Loan ) Tj ET Q q 0 0 0 rg BT 297.51 493.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 336.93 493.10 Td (was ) Tj ET Q q 0 0 0 rg BT 351.47 493.10 Td (EUR ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 369.56 493.10 Td (250.8 ) Tj ET Q q 0 0 0 rg BT 389.66 493.10 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.77 493.10 Td ( ) Tj ET Q q 0 0 0 rg BT 414.87 493.10 Td (\(approximately ) Tj ET Q q 0 0 0 rg BT 465.83 493.10 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.15 493.10 Td (304.5 ) Tj ET Q q 0 0 0 rg BT 502.25 493.10 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.36 493.10 Td (\). ) Tj ET Q q 0 0 0 rg BT 531.97 493.10 Td (The ) Tj ET Q q 0 0 0 rg BT 546.50 493.10 Td (2017 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 483.50 Td (Euro ) Tj ET Q q 0 0 0 rg BT 66.69 483.50 Td (T) Tj ET Q q 0 0 0 rg BT 71.02 483.50 Td (erm ) Tj ET Q q 0 0 0 rg BT 85.23 483.50 Td (Loan ) Tj ET Q q 0 0 0 rg BT 103.43 483.50 Td (bears ) Tj ET Q q 0 0 0 rg BT 122.08 483.50 Td (interest ) Tj ET Q q 0 0 0 rg BT 147.39 483.50 Td (at ) Tj ET Q q 0 0 0 rg BT 154.94 483.50 Td (three-month ) Tj ET Q q 0 0 0 rg BT 195.80 483.50 Td (EURIBOR ) Tj ET Q q 0 0 0 rg BT 232.68 483.50 Td (\(fixed ) Tj ET Q q 0 0 0 rg BT 253.55 483.50 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 282.87 483.50 Td (to ) Tj ET Q q 0 0 0 rg BT 290.87 483.50 Td (customary ) Tj ET Q q 0 0 0 rg BT 325.96 483.50 Td (hedging ) Tj ET Q q 0 0 0 rg BT 353.50 483.50 Td (arrangements ) Tj ET Q q 0 0 0 rg BT 398.36 483.50 Td (\(see ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.01 483.50 Td (Note ) Tj ET Q q 0 0 0 rg BT 430.33 483.50 Td (14, ) Tj ET Q q 0 0 0 rg BT 442.09 483.50 Td ("Financial ) Tj ET Q q 0 0 0 rg BT 476.90 483.50 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 516.44 483.50 Td (and ) Tj ET Q q 0 0 0 rg BT 529.76 483.50 Td (Fair ) Tj ET Q q 0 0 0 rg BT 544.29 483.50 Td (V) Tj ET Q q 0 0 0 rg BT 549.18 483.50 Td (alue ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 473.90 Td (Measurements") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.42 473.90 Td (\)\) ) Tj ET Q q 0 0 0 rg BT 106.43 473.90 Td (plus ) Tj ET Q q 0 0 0 rg BT 121.44 473.90 Td (a ) Tj ET Q q 0 0 0 rg BT 126.67 473.90 Td (mar) Tj ET Q q 0 0 0 rg BT 138.96 473.90 Td (gin ) Tj ET Q q 0 0 0 rg BT 150.87 473.90 Td (of ) Tj ET Q q 0 0 0 rg BT 159.21 473.90 Td (between ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 187.54 473.90 Td (1.07%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.21 473.90 Td ( ) Tj ET Q q 0 0 0 rg BT 209.89 473.90 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 223.12 473.90 Td (1.90%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 243.78 473.90 Td ( ) Tj ET Q q 0 0 0 rg BT 245.46 473.90 Td (depending ) Tj ET Q q 0 0 0 rg BT 280.46 473.90 Td (on ) Tj ET Q q 0 0 0 rg BT 290.14 473.90 Td (the ) Tj ET Q q 0 0 0 rg BT 301.60 473.90 Td (credit ) Tj ET Q q 0 0 0 rg BT 321.49 473.90 Td (rating ) Tj ET Q q 0 0 0 rg BT 341.83 473.90 Td (of ) Tj ET Q q 0 0 0 rg BT 350.05 473.90 Td (T) Tj ET Q q 0 0 0 rg BT 354.66 473.90 Td (ime ) Tj ET Q q 0 0 0 rg BT 368.21 473.90 Td (W) Tj ET Q q 0 0 0 rg BT 375.12 473.90 Td (arner) Tj ET Q q 0 0 0 rg BT 391.23 473.90 Td (, ) Tj ET Q q 0 0 0 rg BT 394.91 473.90 Td (and ) Tj ET Q q 0 0 0 rg BT 408.14 473.90 Td (is ) Tj ET Q q 0 0 0 rg BT 415.16 473.90 Td (payable ) Tj ET Q q 0 0 0 rg BT 441.71 473.90 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 472.26 473.90 Td (in ) Tj ET Q q 0 0 0 rg BT 480.17 473.90 Td (arrears ) Tj ET Q q 0 0 0 rg BT 503.60 473.90 Td (on ) Tj ET Q q 0 0 0 rg BT 513.28 473.90 Td (each ) Tj ET Q q 0 0 0 rg BT 529.62 473.90 Td (March12, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 464.30 Td (June ) Tj ET Q q 0 0 0 rg BT 66.01 464.30 Td (12, ) Tj ET Q q 0 0 0 rg BT 77.85 464.30 Td (September ) Tj ET Q q 0 0 0 rg BT 113.90 464.30 Td (12 ) Tj ET Q q 0 0 0 rg BT 123.75 464.30 Td (and ) Tj ET Q q 0 0 0 rg BT 137.14 464.30 Td (December ) Tj ET Q q 0 0 0 rg BT 171.85 464.30 Td (12, ) Tj ET Q q 0 0 0 rg BT 183.69 464.30 Td (commencing ) Tj ET Q q 0 0 0 rg BT 226.86 464.30 Td (on ) Tj ET Q q 0 0 0 rg BT 236.70 464.30 Td (March ) Tj ET Q q 0 0 0 rg BT 259.42 464.30 Td (12, ) Tj ET Q q 0 0 0 rg BT 271.26 464.30 Td (2015. ) Tj ET Q q 0 0 0 rg BT 290.70 464.30 Td (As ) Tj ET Q q 0 0 0 rg BT 301.43 464.30 Td (at ) Tj ET Q q 0 0 0 rg BT 309.05 464.30 Td (December ) Tj ET Q q 0 0 0 rg BT 343.76 464.30 Td (31, ) Tj ET Q q 0 0 0 rg BT 355.60 464.30 Td (2014, ) Tj ET Q q 0 0 0 rg BT 375.44 464.30 Td (the ) Tj ET Q q 0 0 0 rg BT 387.06 464.30 Td (weighted ) Tj ET Q q 0 0 0 rg BT 418.23 464.30 Td (average ) Tj ET Q q 0 0 0 rg BT 444.94 464.30 Td (interest ) Tj ET Q q 0 0 0 rg BT 470.33 464.30 Td (rate ) Tj ET Q q 0 0 0 rg BT 484.16 464.30 Td (on ) Tj ET Q q 0 0 0 rg BT 494.00 464.30 Td (drawings ) Tj ET Q q 0 0 0 rg BT 525.17 464.30 Td (outstanding ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 454.70 Td (under ) Tj ET Q q 0 0 0 rg BT 69.58 454.70 Td (the ) Tj ET Q q 0 0 0 rg BT 81.22 454.70 Td (2017 ) Tj ET Q q 0 0 0 rg BT 99.09 454.70 Td (Euro ) Tj ET Q q 0 0 0 rg BT 116.37 454.70 Td (T) Tj ET Q q 0 0 0 rg BT 120.70 454.70 Td (erm ) Tj ET Q q 0 0 0 rg BT 135.01 454.70 Td (Loan ) Tj ET Q q 0 0 0 rg BT 153.31 454.70 Td (was ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 167.62 454.70 Td (1.58%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 188.28 454.70 Td (. ) Tj ET Q q 0 0 0 rg BT 192.02 454.70 Td (The ) Tj ET Q q 0 0 0 rg BT 206.32 454.70 Td (2017 ) Tj ET Q q 0 0 0 rg BT 224.19 454.70 Td (Euro ) Tj ET Q q 0 0 0 rg BT 241.47 454.70 Td (T) Tj ET Q q 0 0 0 rg BT 245.80 454.70 Td (erm ) Tj ET Q q 0 0 0 rg BT 260.10 454.70 Td (Loan ) Tj ET Q q 0 0 0 rg BT 278.41 454.70 Td (matures ) Tj ET Q q 0 0 0 rg BT 305.60 454.70 Td (on ) Tj ET Q q 0 0 0 rg BT 315.47 454.70 Td (November1,2017. ) Tj ET Q q 0 0 0 rg BT 379.10 454.70 Td (Due ) Tj ET Q q 0 0 0 rg BT 394.29 454.70 Td (to ) Tj ET Q q 0 0 0 rg BT 402.38 454.70 Td (the ) Tj ET Q q 0 0 0 rg BT 414.03 454.70 Td (proximity ) Tj ET Q q 0 0 0 rg BT 447.45 454.70 Td (of ) Tj ET Q q 0 0 0 rg BT 455.98 454.70 Td (the ) Tj ET Q q 0 0 0 rg BT 467.62 454.70 Td (agreement ) Tj ET Q q 0 0 0 rg BT 502.80 454.70 Td (underlying ) Tj ET Q q 0 0 0 rg BT 539.33 454.70 Td (and ) Tj ET Q q 0 0 0 rg BT 552.74 454.70 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 445.10 Td (drawdown ) Tj ET Q q 0 0 0 rg BT 85.52 445.10 Td (of ) Tj ET Q q 0 0 0 rg BT 94.43 445.10 Td (the ) Tj ET Q q 0 0 0 rg BT 106.45 445.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 124.70 445.10 Td (Euro ) Tj ET Q q 0 0 0 rg BT 142.34 445.10 Td (T) Tj ET Q q 0 0 0 rg BT 146.67 445.10 Td (erm ) Tj ET Q q 0 0 0 rg BT 161.35 445.10 Td (Loan ) Tj ET Q q 0 0 0 rg BT 180.04 445.10 Td (to ) Tj ET Q q 0 0 0 rg BT 188.51 445.10 Td (December ) Tj ET Q q 0 0 0 rg BT 223.63 445.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 235.88 445.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 256.13 445.10 Td (we ) Tj ET Q q 0 0 0 rg BT 267.70 445.10 Td (are ) Tj ET Q q 0 0 0 rg BT 279.72 445.10 Td (not ) Tj ET Q q 0 0 0 rg BT 292.19 445.10 Td (aware ) Tj ET Q q 0 0 0 rg BT 313.53 445.10 Td (of ) Tj ET Q q 0 0 0 rg BT 322.45 445.10 Td (any ) Tj ET Q q 0 0 0 rg BT 336.25 445.10 Td (evidence ) Tj ET Q q 0 0 0 rg BT 366.92 445.10 Td (that ) Tj ET Q q 0 0 0 rg BT 381.17 445.10 Td (indicates ) Tj ET Q q 0 0 0 rg BT 411.85 445.10 Td (the ) Tj ET Q q 0 0 0 rg BT 423.87 445.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 437.22 445.10 Td (value ) Tj ET Q q 0 0 0 rg BT 456.80 445.10 Td (is ) Tj ET Q q 0 0 0 rg BT 464.38 445.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 507.07 445.10 Td (dif) Tj ET Q q 0 0 0 rg BT 515.81 445.10 Td (ferent ) Tj ET Q q 0 0 0 rg BT 536.71 445.10 Td (than ) Tj ET Q q 0 0 0 rg BT 552.74 445.10 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 435.50 Td (carrying ) Tj ET Q q 0 0 0 rg BT 78.68 435.50 Td (value ) Tj ET Q q 0 0 0 rg BT 98.53 435.50 Td (of ) Tj ET Q q 0 0 0 rg BT 107.71 435.50 Td (the ) Tj ET Q q 0 0 0 rg BT 120.01 435.50 Td (2017 ) Tj ET Q q 0 0 0 rg BT 138.54 435.50 Td (Euro ) Tj ET Q q 0 0 0 rg BT 156.43 435.50 Td (T) Tj ET Q q 0 0 0 rg BT 160.76 435.50 Td (erm ) Tj ET Q q 0 0 0 rg BT 175.72 435.50 Td (Loan ) Tj ET Q q 0 0 0 rg BT 194.68 435.50 Td (as ) Tj ET Q q 0 0 0 rg BT 203.87 435.50 Td (atDecember ) Tj ET Q q 0 0 0 rg BT 247.03 435.50 Td (31, ) Tj ET Q q 0 0 0 rg BT 259.56 435.50 Td (2014. ) Tj ET Q q 0 0 0 rg BT 279.90 435.50 Td (This ) Tj ET Q q 0 0 0 rg BT 296.65 435.50 Td (measurement ) Tj ET Q q 0 0 0 rg BT 341.82 435.50 Td (of ) Tj ET Q q 0 0 0 rg BT 351.01 435.50 Td (estimated ) Tj ET Q q 0 0 0 rg BT 384.19 435.50 Td (fair ) Tj ET Q q 0 0 0 rg BT 397.82 435.50 Td (value ) Tj ET Q q 0 0 0 rg BT 417.66 435.50 Td (uses ) Tj ET Q q 0 0 0 rg BT 433.97 435.50 Td (Level ) Tj ET Q q 0 0 0 rg BT 454.70 435.50 Td (3 ) Tj ET Q q 0 0 0 rg BT 461.23 435.50 Td (inputs ) Tj ET Q q 0 0 0 rg BT 483.31 435.50 Td (as ) Tj ET Q q 0 0 0 rg BT 492.50 435.50 Td (described ) Tj ET Q q 0 0 0 rg BT 525.67 435.50 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.42 435.50 Td (Note ) Tj ET Q q 0 0 0 rg BT 552.50 435.50 Td (14, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 425.90 Td ("Financial ) Tj ET Q q 0 0 0 rg BT 84.54 425.90 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 124.31 425.90 Td (and ) Tj ET Q q 0 0 0 rg BT 137.86 425.90 Td (Fair ) Tj ET Q q 0 0 0 rg BT 152.60 425.90 Td (V) Tj ET Q q 0 0 0 rg BT 157.49 425.90 Td (alue ) Tj ET Q q 0 0 0 rg BT 172.82 425.90 Td (Measurements") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 222.73 425.90 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 410.30 Td (The ) Tj ET Q q 0 0 0 rg BT 63.44 410.30 Td (2017 ) Tj ET Q q 0 0 0 rg BT 80.95 410.30 Td (Euro ) Tj ET Q q 0 0 0 rg BT 97.89 410.30 Td (T) Tj ET Q q 0 0 0 rg BT 102.22 410.30 Td (erm ) Tj ET Q q 0 0 0 rg BT 116.16 410.30 Td (Loan ) Tj ET Q q 0 0 0 rg BT 134.11 410.30 Td (is ) Tj ET Q q 0 0 0 rg BT 140.95 410.30 Td (a ) Tj ET Q q 0 0 0 rg BT 146.00 410.30 Td (senior ) Tj ET Q q 0 0 0 rg BT 167.06 410.30 Td (unsecured ) Tj ET Q q 0 0 0 rg BT 200.99 410.30 Td (obligation ) Tj ET Q q 0 0 0 rg BT 234.94 410.30 Td (of ) Tj ET Q q 0 0 0 rg BT 243.11 410.30 Td (CME, ) Tj ET Q q 0 0 0 rg BT 263.95 410.30 Td (and ) Tj ET Q q 0 0 0 rg BT 277.01 410.30 Td (is ) Tj ET Q q 0 0 0 rg BT 283.85 410.30 Td (unconditionally ) Tj ET Q q 0 0 0 rg BT 335.57 410.30 Td (guaranteed ) Tj ET Q q 0 0 0 rg BT 372.16 410.30 Td (by ) Tj ET Q q 0 0 0 rg BT 381.56 410.30 Td (T) Tj ET Q q 0 0 0 rg BT 386.16 410.30 Td (ime ) Tj ET Q q 0 0 0 rg BT 399.55 410.30 Td (W) Tj ET Q q 0 0 0 rg BT 406.46 410.30 Td (arner ) Tj ET Q q 0 0 0 rg BT 424.40 410.30 Td (and ) Tj ET Q q 0 0 0 rg BT 437.45 410.30 Td (certain ) Tj ET Q q 0 0 0 rg BT 460.72 410.30 Td (of ) Tj ET Q q 0 0 0 rg BT 468.89 410.30 Td (its ) Tj ET Q q 0 0 0 rg BT 477.95 410.30 Td (subsidiaries. ) Tj ET Q q 0 0 0 rg BT 519.23 410.30 Td (In ) Tj ET Q q 0 0 0 rg BT 527.40 410.30 Td (connection ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 400.70 Td (with ) Tj ET Q q 0 0 0 rg BT 65.29 400.70 Td (this ) Tj ET Q q 0 0 0 rg BT 78.42 400.70 Td (guarantee, ) Tj ET Q q 0 0 0 rg BT 113.07 400.70 Td (we ) Tj ET Q q 0 0 0 rg BT 123.97 400.70 Td (entered ) Tj ET Q q 0 0 0 rg BT 149.08 400.70 Td (into ) Tj ET Q q 0 0 0 rg BT 163.09 400.70 Td (a ) Tj ET Q q 0 0 0 rg BT 168.21 400.70 Td (reimbursement ) Tj ET Q q 0 0 0 rg BT 217.76 400.70 Td (agreement ) Tj ET Q q 0 0 0 rg BT 252.64 400.70 Td (\(the ) Tj ET Q q 0 0 0 rg BT 266.64 400.70 Td (Reimbursement ) Tj ET Q q 0 0 0 rg BT 322.07 400.70 Td 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(Agreement ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 381.50 Td (is ) Tj ET Q q 0 0 0 rg BT 56.76 381.50 Td (jointly ) Tj ET Q q 0 0 0 rg BT 79.58 381.50 Td (and ) Tj ET Q q 0 0 0 rg BT 93.05 381.50 Td (severally ) Tj ET Q q 0 0 0 rg BT 123.86 381.50 Td (guaranteed ) Tj ET Q q 0 0 0 rg BT 160.87 381.50 Td (by ) Tj ET Q q 0 0 0 rg BT 170.80 381.50 Td (CMENV) Tj ET Q q 0 0 0 rg BT 201.54 381.50 Td ( ) Tj ET Q q 0 0 0 rg BT 203.47 381.50 Td (and ) Tj ET Q q 0 0 0 rg BT 216.95 381.50 Td (CMEBV) Tj ET Q q 0 0 0 rg BT 247.25 381.50 Td ( ) Tj ET Q q 0 0 0 rg BT 249.18 381.50 Td (and ) Tj ET Q q 0 0 0 rg BT 262.65 381.50 Td (is ) Tj ET Q q 0 0 0 rg BT 269.91 381.50 Td (secured ) Tj ET Q q 0 0 0 rg BT 296.27 381.50 Td (by ) Tj ET Q q 0 0 0 rg BT 306.20 381.50 Td (a ) Tj ET Q q 0 0 0 rg BT 311.67 381.50 Td (pledge ) Tj ET Q q 0 0 0 rg BT 334.92 381.50 Td (over) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.14 381.50 Td (100%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.80 381.50 Td ( ) Tj ET Q q 0 0 0 rg BT 369.73 381.50 Td (of ) Tj ET Q q 0 0 0 rg BT 378.32 381.50 Td (the ) Tj ET Q q 0 0 0 rg BT 390.02 381.50 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 429.27 381.50 Td (shares ) Tj ET Q q 0 0 0 rg BT 451.19 381.50 Td (of ) Tj ET Q q 0 0 0 rg BT 459.78 381.50 Td (each ) Tj ET Q q 0 0 0 rg BT 476.36 381.50 Td (of ) Tj ET Q q 0 0 0 rg BT 484.95 381.50 Td (CMENV) Tj ET Q q 0 0 0 rg BT 515.70 381.50 Td ( ) Tj ET Q q 0 0 0 rg BT 517.62 381.50 Td (and ) Tj ET Q q 0 0 0 rg BT 531.10 381.50 Td (CMEBV) Tj ET Q q 0 0 0 rg BT 560.52 381.50 Td (. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 371.90 Td (As ) Tj ET Q q 0 0 0 rg BT 60.45 371.90 Td (consideration ) Tj ET Q q 0 0 0 rg BT 105.60 371.90 Td (for ) Tj ET Q q 0 0 0 rg BT 116.98 371.90 Td (the ) Tj ET Q q 0 0 0 rg BT 128.81 371.90 Td (guarantee ) Tj ET Q q 0 0 0 rg BT 161.96 371.90 Td (of ) Tj ET Q q 0 0 0 rg BT 170.68 371.90 Td (the ) Tj ET Q q 0 0 0 rg BT 182.51 371.90 Td (2017 ) Tj ET Q q 0 0 0 rg BT 200.56 371.90 Td (Euro ) Tj ET Q q 0 0 0 rg BT 218.02 371.90 Td (T) Tj ET Q q 0 0 0 rg BT 222.35 371.90 Td (erm ) Tj ET Q q 0 0 0 rg BT 236.84 371.90 Td (Loan, ) Tj ET Q q 0 0 0 rg BT 257.33 371.90 Td (we ) Tj ET Q q 0 0 0 rg BT 268.72 371.90 Td (will ) Tj ET Q q 0 0 0 rg BT 283.22 371.90 Td (pay ) Tj ET Q q 0 0 0 rg BT 296.83 371.90 Td (a ) Tj ET Q q 0 0 0 rg BT 302.43 371.90 Td (guarantee ) Tj ET Q q 0 0 0 rg BT 335.58 371.90 Td (fee ) Tj ET Q q 0 0 0 rg BT 347.40 371.90 Td (to ) Tj ET Q q 0 0 0 rg BT 355.53 371.90 Td (T) Tj ET Q q 0 0 0 rg BT 360.13 371.90 Td (ime ) Tj ET Q q 0 0 0 rg BT 374.04 371.90 Td (W) Tj ET Q q 0 0 0 rg BT 380.95 371.90 Td (arner ) Tj ET Q q 0 0 0 rg BT 399.43 371.90 Td (based ) Tj ET Q q 0 0 0 rg BT 419.70 371.90 Td (on ) Tj ET Q q 0 0 0 rg BT 429.76 371.90 Td (the ) Tj ET Q q 0 0 0 rg BT 441.59 371.90 Td (amount ) Tj ET Q q 0 0 0 rg BT 467.64 371.90 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 507.03 371.90 Td (on ) Tj ET Q q 0 0 0 rg BT 517.08 371.90 Td (the ) Tj ET Q q 0 0 0 rg BT 528.91 371.90 Td (2017 ) Tj ET Q q 0 0 0 rg BT 546.97 371.90 Td (Euro ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 362.30 Td (T) Tj ET Q q 0 0 0 rg BT 53.83 362.30 Td (erm ) Tj ET Q q 0 0 0 rg BT 68.45 362.30 Td (Loan ) Tj ET Q q 0 0 0 rg BT 87.07 362.30 Td (calculated ) Tj ET Q q 0 0 0 rg BT 121.67 362.30 Td (on ) Tj ET Q q 0 0 0 rg BT 131.86 362.30 Td (a ) Tj ET Q q 0 0 0 rg BT 137.59 362.30 Td (per ) Tj ET Q q 0 0 0 rg BT 149.99 362.30 Td (annum ) Tj ET Q q 0 0 0 rg BT 173.94 362.30 Td (basis ) Tj ET Q q 0 0 0 rg BT 192.13 362.30 Td (equal ) Tj ET Q q 0 0 0 rg BT 211.63 362.30 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 220.04 362.30 Td (8.5%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 236.70 362.30 Td ( ) Tj ET Q q 0 0 0 rg BT 238.88 362.30 Td (minus ) Tj ET Q q 0 0 0 rg BT 260.63 362.30 Td (the ) Tj ET Q q 0 0 0 rg BT 272.58 362.30 Td (rate ) Tj ET Q q 0 0 0 rg BT 286.75 362.30 Td (of ) Tj ET Q q 0 0 0 rg BT 295.60 362.30 Td (interest ) Tj ET Q q 0 0 0 rg BT 321.33 362.30 Td (paid ) Tj ET Q q 0 0 0 rg BT 337.28 362.30 Td (by ) Tj ET Q q 0 0 0 rg BT 347.47 362.30 Td (CME ) Tj ET Q q 0 0 0 rg BT 366.99 362.30 Td (under ) Tj ET Q q 0 0 0 rg BT 387.38 362.30 Td (the ) Tj ET Q q 0 0 0 rg BT 399.34 362.30 Td (2017 ) Tj ET Q q 0 0 0 rg BT 417.52 362.30 Td (Euro ) Tj ET Q q 0 0 0 rg BT 435.10 362.30 Td (T) Tj ET Q q 0 0 0 rg BT 439.43 362.30 Td (erm ) Tj ET Q q 0 0 0 rg BT 454.05 362.30 Td (Loan ) Tj ET Q q 0 0 0 rg BT 472.67 362.30 Td (\(the ) Tj ET Q q 0 0 0 rg BT 487.29 362.30 Td (Guarantee ) Tj ET Q q 0 0 0 rg BT 525.89 362.30 Td (Fee ) Tj ET Q q 0 0 0 rg BT 539.62 362.30 Td (Rate\). ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 352.70 Td (The ) Tj ET Q q 0 0 0 rg BT 64.09 352.70 Td (guarantee ) Tj ET Q q 0 0 0 rg BT 97.34 352.70 Td (fee ) Tj ET Q q 0 0 0 rg BT 109.26 352.70 Td (is ) Tj ET Q q 0 0 0 rg BT 116.75 352.70 Td (payable ) Tj ET Q q 0 0 0 rg BT 143.78 352.70 Td (semi-annually ) Tj ET Q q 0 0 0 rg BT 191.26 352.70 Td (in ) Tj ET Q q 0 0 0 rg BT 199.63 352.70 Td (arrears ) Tj ET Q q 0 0 0 rg BT 223.55 352.70 Td (on ) Tj ET Q q 0 0 0 rg BT 233.70 352.70 Td (each ) Tj ET Q q 0 0 0 rg BT 250.51 352.70 Td (May ) Tj ET Q q 0 0 0 rg BT 267.33 352.70 Td (1 ) Tj ET Q q 0 0 0 rg BT 273.48 352.70 Td (and ) Tj ET Q q 0 0 0 rg BT 287.19 352.70 Td (November ) Tj ET Q q 0 0 0 rg BT 323.11 352.70 Td (1, ) Tj ET Q q 0 0 0 rg BT 331.27 352.70 Td (which ) Tj ET Q q 0 0 0 rg BT 352.97 352.70 Td (CME ) Tj ET Q q 0 0 0 rg BT 372.46 352.70 Td (may ) Tj ET Q q 0 0 0 rg BT 388.39 352.70 Td (pay ) Tj ET Q q 0 0 0 rg BT 402.10 352.70 Td (in ) Tj ET Q q 0 0 0 rg BT 410.48 352.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 426.85 352.70 Td (or ) Tj ET Q q 0 0 0 rg BT 435.67 352.70 Td (in ) Tj ET Q q 0 0 0 rg BT 444.04 352.70 Td (kind. ) Tj ET Q q 0 0 0 rg BT 462.42 352.70 Td (Unpaid ) Tj ET Q q 0 0 0 rg BT 488.13 352.70 Td (amounts ) Tj ET Q q 0 0 0 rg BT 517.39 352.70 Td (of ) Tj ET Q q 0 0 0 rg BT 526.21 352.70 Td (the ) Tj ET Q q 0 0 0 rg BT 538.14 352.70 Td (fee ) Tj ET Q q 0 0 0 rg BT 550.06 352.70 Td (will ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 343.10 Td (bear ) Tj ET Q q 0 0 0 rg BT 65.25 343.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 90.78 343.10 Td (per ) Tj ET Q q 0 0 0 rg BT 102.97 343.10 Td (annum ) Tj ET Q q 0 0 0 rg BT 126.73 343.10 Td (at ) Tj ET Q q 0 0 0 rg BT 134.48 343.10 Td (the ) Tj ET Q q 0 0 0 rg BT 146.24 343.10 Td (Guarantee ) Tj ET Q q 0 0 0 rg BT 181.08 343.10 Td (Fee ) Tj ET Q q 0 0 0 rg BT 194.62 343.10 Td (Rate ) Tj ET Q q 0 0 0 rg BT 211.26 343.10 Td (from ) Tj ET Q q 0 0 0 rg BT 228.79 343.10 Td (the ) Tj ET Q q 0 0 0 rg BT 240.55 343.10 Td (dates ) Tj ET Q q 0 0 0 rg BT 258.96 343.10 Td (the ) Tj ET Q q 0 0 0 rg BT 270.72 343.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 288.70 343.10 Td (Euro ) Tj ET Q q 0 0 0 rg BT 306.09 343.10 Td (T) Tj ET Q q 0 0 0 rg BT 310.42 343.10 Td (erm ) Tj ET Q q 0 0 0 rg BT 324.84 343.10 Td (Loan ) Tj ET Q q 0 0 0 rg BT 343.26 343.10 Td (is ) Tj ET Q q 0 0 0 rg BT 350.57 343.10 Td (drawn ) Tj ET Q q 0 0 0 rg BT 372.55 343.10 Td (and ) Tj ET Q q 0 0 0 rg BT 386.08 343.10 Td (be ) Tj ET Q q 0 0 0 rg BT 395.61 343.10 Td (payable ) Tj ET Q q 0 0 0 rg BT 422.47 343.10 Td (semi-annually ) Tj ET Q q 0 0 0 rg BT 469.77 343.10 Td (in ) Tj ET Q q 0 0 0 rg BT 477.97 343.10 Td (arrears ) Tj ET Q q 0 0 0 rg BT 501.71 343.10 Td (on ) Tj ET Q q 0 0 0 rg BT 511.69 343.10 Td (each ) Tj ET Q q 0 0 0 rg BT 528.33 343.10 Td (May ) Tj ET Q q 0 0 0 rg BT 544.97 343.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 550.96 343.10 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 333.50 Td (November ) Tj ET Q q 0 0 0 rg BT 85.65 333.50 Td (1, ) Tj ET Q q 0 0 0 rg BT 94.04 333.50 Td (which ) Tj ET Q q 0 0 0 rg BT 115.97 333.50 Td (CME ) Tj ET Q q 0 0 0 rg BT 135.69 333.50 Td (may ) Tj ET Q q 0 0 0 rg BT 151.85 333.50 Td (pay ) Tj ET Q q 0 0 0 rg BT 165.79 333.50 Td (in ) Tj ET Q q 0 0 0 rg BT 174.39 333.50 Td (cash ) Tj ET Q q 0 0 0 rg BT 190.99 333.50 Td (or ) Tj ET Q q 0 0 0 rg BT 200.04 333.50 Td (in ) Tj ET Q q 0 0 0 rg BT 208.65 333.50 Td (kind. ) Tj ET Q q 0 0 0 rg BT 227.08 333.50 Td (The ) Tj ET Q q 0 0 0 rg BT 241.91 333.50 Td (covenants ) Tj ET Q q 0 0 0 rg BT 276.28 333.50 Td (and ) Tj ET Q q 0 0 0 rg BT 290.21 333.50 Td (events ) Tj ET Q q 0 0 0 rg BT 313.04 333.50 Td (of ) Tj ET Q q 0 0 0 rg BT 322.09 333.50 Td (default ) Tj ET Q q 0 0 0 rg BT 346.68 333.50 Td (under ) Tj ET Q q 0 0 0 rg BT 367.28 333.50 Td (the ) Tj ET Q q 0 0 0 rg BT 379.44 333.50 Td (Reimbursement ) Tj ET Q q 0 0 0 rg BT 431.95 333.50 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 469.88 333.50 Td (are ) Tj ET Q q 0 0 0 rg BT 482.03 333.50 Td (substantially ) Tj ET Q q 0 0 0 rg BT 524.85 333.50 Td (the ) Tj ET Q q 0 0 0 rg BT 537.01 333.50 Td (same ) Tj ET Q q 0 0 0 rg BT 555.83 333.50 Td (as ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 323.90 Td (under ) Tj ET Q q 0 0 0 rg BT 69.71 323.90 Td (the ) Tj ET Q q 0 0 0 rg BT 81.49 323.90 Td (2017 ) Tj ET Q q 0 0 0 rg BT 99.34 323.90 Td (T) Tj ET Q q 0 0 0 rg BT 103.67 323.90 Td (erm ) Tj ET Q q 0 0 0 rg BT 118.11 323.90 Td (Loan ) Tj ET Q q 0 0 0 rg BT 136.55 323.90 Td (and ) Tj ET Q q 0 0 0 rg BT 150.10 323.90 Td (the ) Tj ET Q q 0 0 0 rg BT 161.87 323.90 Td (2017 ) Tj ET Q q 0 0 0 rg BT 179.87 323.90 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 215.20 323.90 Td (Credit ) Tj ET Q q 0 0 0 rg BT 237.20 323.90 Td (Facility) Tj ET Q q 0 0 0 rg BT 261.12 323.90 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 308.30 Td (The ) Tj ET Q q 0 0 0 rg BT 64.06 308.30 Td (2017 ) Tj ET Q q 0 0 0 rg BT 82.18 308.30 Td (Euro ) Tj ET Q q 0 0 0 rg BT 99.70 308.30 Td (T) Tj ET Q q 0 0 0 rg BT 104.03 308.30 Td (erm ) Tj ET Q q 0 0 0 rg BT 118.58 308.30 Td (Loan ) Tj ET Q q 0 0 0 rg BT 137.14 308.30 Td (may ) Tj ET Q q 0 0 0 rg BT 153.04 308.30 Td (be ) Tj ET Q q 0 0 0 rg BT 162.71 308.30 Td (prepaid ) Tj ET Q q 0 0 0 rg BT 188.82 308.30 Td (at ) Tj ET Q q 0 0 0 rg BT 196.71 308.30 Td (our ) Tj ET Q q 0 0 0 rg BT 209.50 308.30 Td (option, ) Tj ET Q q 0 0 0 rg BT 234.07 308.30 Td (in ) Tj ET Q q 0 0 0 rg BT 242.41 308.30 Td (whole ) Tj ET Q q 0 0 0 rg BT 264.08 308.30 Td (or ) Tj ET Q q 0 0 0 rg BT 272.87 308.30 Td (in ) Tj ET Q q 0 0 0 rg BT 281.21 308.30 Td (part, ) Tj ET Q q 0 0 0 rg BT 297.77 308.30 Td (from ) Tj ET Q q 0 0 0 rg BT 315.44 308.30 Td (June ) Tj ET Q q 0 0 0 rg BT 332.23 308.30 Td (1, ) Tj ET Q q 0 0 0 rg BT 340.35 308.30 Td (2016, ) Tj ET Q q 0 0 0 rg BT 360.47 308.30 Td (without ) Tj ET Q q 0 0 0 rg BT 387.03 308.30 Td (premium ) Tj ET Q q 0 0 0 rg BT 418.04 308.30 Td (or ) Tj ET Q q 0 0 0 rg BT 426.82 308.30 Td (penalty) Tj ET Q q 0 0 0 rg BT 449.85 308.30 Td (. ) Tj ET Q q 0 0 0 rg BT 453.50 308.30 Td (Additionally ) Tj ET Q q 0 0 0 rg BT 495.91 308.30 Td (T) Tj ET Q q 0 0 0 rg BT 500.52 308.30 Td (ime ) Tj ET Q q 0 0 0 rg BT 514.48 308.30 Td (W) Tj ET Q q 0 0 0 rg BT 521.39 308.30 Td (arner ) Tj ET Q q 0 0 0 rg BT 539.94 308.30 Td (has ) Tj ET Q q 0 0 0 rg BT 552.73 308.30 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 298.70 Td (right ) Tj ET Q q 0 0 0 rg BT 66.74 298.70 Td (to ) Tj ET Q q 0 0 0 rg BT 75.09 298.70 Td (purchase ) Tj ET Q q 0 0 0 rg BT 105.65 298.70 Td (any ) Tj ET Q q 0 0 0 rg BT 119.33 298.70 Td (amount ) Tj ET Q q 0 0 0 rg BT 145.46 298.70 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 184.92 298.70 Td (under ) Tj ET Q q 0 0 0 rg BT 205.26 298.70 Td (the ) Tj ET Q q 0 0 0 rg BT 217.17 298.70 Td (2017 ) Tj ET Q q 0 0 0 rg BT 235.30 298.70 Td (Euro ) Tj ET Q q 0 0 0 rg BT 252.82 298.70 Td (T) Tj ET Q q 0 0 0 rg BT 257.15 298.70 Td (erm ) Tj ET Q q 0 0 0 rg BT 271.72 298.70 Td (Loan ) Tj ET Q q 0 0 0 rg BT 290.29 298.70 Td (following ) Tj ET Q q 0 0 0 rg BT 323.53 298.70 Td (an ) Tj ET Q q 0 0 0 rg BT 333.21 298.70 Td (event ) Tj ET Q q 0 0 0 rg BT 352.66 298.70 Td (of ) Tj ET Q q 0 0 0 rg BT 361.46 298.70 Td (default ) Tj ET Q q 0 0 0 rg BT 385.80 298.70 Td (under ) Tj ET Q q 0 0 0 rg BT 406.14 298.70 Td (the ) Tj ET Q q 0 0 0 rg BT 418.04 298.70 Td (2017 ) Tj ET Q q 0 0 0 rg BT 436.17 298.70 Td (Euro ) Tj ET Q q 0 0 0 rg BT 453.70 298.70 Td (T) Tj ET Q q 0 0 0 rg BT 458.03 298.70 Td (erm ) Tj ET Q q 0 0 0 rg BT 472.60 298.70 Td (Loan ) Tj ET Q q 0 0 0 rg BT 491.16 298.70 Td (or ) Tj ET Q q 0 0 0 rg BT 499.96 298.70 Td (the ) Tj ET Q q 0 0 0 rg BT 511.86 298.70 Td (Reimbursement ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 289.10 Td (Agreement.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 273.50 Td (Certain ) Tj ET Q q 0 0 0 rg BT 74.91 273.50 Td (derivative ) Tj ET Q q 0 0 0 rg BT 108.76 273.50 Td (instruments, ) Tj ET Q q 0 0 0 rg BT 149.96 273.50 Td (including ) Tj ET Q q 0 0 0 rg BT 182.05 273.50 Td (contingent ) Tj ET Q q 0 0 0 rg BT 217.68 273.50 Td (event ) Tj ET Q q 0 0 0 rg BT 236.87 273.50 Td (of ) Tj ET Q q 0 0 0 rg BT 245.40 273.50 Td (default ) Tj ET Q q 0 0 0 rg BT 269.48 273.50 Td (and ) Tj ET Q q 0 0 0 rg BT 282.90 273.50 Td (change ) Tj ET Q q 0 0 0 rg BT 307.42 273.50 Td (of ) Tj ET Q q 0 0 0 rg BT 315.95 273.50 Td (control ) Tj ET Q q 0 0 0 rg BT 340.47 273.50 Td (put ) Tj ET Q q 0 0 0 rg BT 352.56 273.50 Td (options, ) Tj ET Q q 0 0 0 rg BT 379.99 273.50 Td (have ) Tj ET Q q 0 0 0 rg BT 396.95 273.50 Td (been ) Tj ET Q q 0 0 0 rg BT 413.92 273.50 Td (identified ) Tj ET Q q 0 0 0 rg BT 446.44 273.50 Td (as ) Tj ET Q q 0 0 0 rg BT 454.97 273.50 Td (being ) Tj ET Q q 0 0 0 rg BT 474.61 273.50 Td (embedded ) Tj ET Q q 0 0 0 rg BT 509.36 273.50 Td (in ) Tj ET Q q 0 0 0 rg BT 517.44 273.50 Td (the ) Tj ET Q q 0 0 0 rg BT 529.08 273.50 Td (2017 ) Tj ET Q q 0 0 0 rg BT 546.95 273.50 Td (Euro ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 263.90 Td (T) Tj ET Q q 0 0 0 rg BT 53.83 263.90 Td (erm ) Tj ET Q q 0 0 0 rg BT 68.49 263.90 Td (Loan. ) Tj ET Q q 0 0 0 rg BT 88.99 263.90 Td (The ) Tj ET Q q 0 0 0 rg BT 103.65 263.90 Td (embedded ) Tj ET Q q 0 0 0 rg BT 138.74 263.90 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 176.06 263.90 Td (are ) Tj ET Q q 0 0 0 rg BT 188.05 263.90 Td (considered ) Tj ET Q q 0 0 0 rg BT 224.92 263.90 Td (clearly ) Tj ET Q q 0 0 0 rg BT 248.91 263.90 Td (and ) Tj ET Q q 0 0 0 rg BT 262.68 263.90 Td (closely ) Tj ET Q q 0 0 0 rg BT 287.56 263.90 Td (related ) Tj ET Q q 0 0 0 rg BT 311.54 263.90 Td (to ) Tj ET Q q 0 0 0 rg BT 319.99 263.90 Td (the ) Tj ET Q q 0 0 0 rg BT 331.98 263.90 Td (2017 ) Tj ET Q q 0 0 0 rg BT 350.20 263.90 Td (Euro ) Tj ET Q q 0 0 0 rg BT 367.82 263.90 Td (T) Tj ET Q q 0 0 0 rg BT 372.14 263.90 Td (erm ) Tj ET Q q 0 0 0 rg BT 386.80 263.90 Td (Loan, ) Tj ET Q q 0 0 0 rg BT 407.46 263.90 Td (and ) Tj ET Q q 0 0 0 rg BT 421.24 263.90 Td (as ) Tj ET Q q 0 0 0 rg BT 430.12 263.90 Td (such ) Tj ET Q q 0 0 0 rg BT 447.01 263.90 Td (are ) Tj ET Q q 0 0 0 rg BT 458.99 263.90 Td (not ) Tj ET Q q 0 0 0 rg BT 471.44 263.90 Td (required ) Tj ET Q q 0 0 0 rg BT 500.31 263.90 Td (to ) Tj ET Q q 0 0 0 rg BT 508.76 263.90 Td (be ) Tj ET Q q 0 0 0 rg BT 518.53 263.90 Td (accounted ) Tj ET Q q 0 0 0 rg BT 553.18 263.90 Td (for ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 254.30 Td (separately) Tj ET Q q 0 0 0 rg BT 81.41 254.30 Td (.) Tj ET Q endstream endobj 129 0 obj <>] /Rotate 0 /Contents 130 0 R>> endobj 130 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) 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0 rg BT 95.86 723.60 Td (Facilities ) Tj ET Q q 0 0 0 rg BT 128.52 723.60 Td (and ) Tj ET Q q 0 0 0 rg BT 143.42 723.60 Td (Capital ) Tj ET Q q 0 0 0 rg BT 170.75 723.60 Td (Lease ) Tj ET Q q 0 0 0 rg BT 192.30 723.60 Td (Obligations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 708.00 Td (Other credit facilities and capital lease obligations comprised the following at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.86 708.00 Td (December31, 2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.73 708.00 Td ( and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 378.28 708.00 Td (December31, 2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 441.15 708.00 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 682.50 264.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.00 682.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 682.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 682.50 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 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(across ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 585.80 Td (the ) Tj ET Q q 0 0 0 rg BT 79.06 585.80 Td (group ) Tj ET Q q 0 0 0 rg BT 99.51 585.80 Td (in ) Tj ET Q q 0 0 0 rg BT 107.52 585.80 Td (respect ) Tj ET Q q 0 0 0 rg BT 131.96 585.80 Td (of ) Tj ET Q q 0 0 0 rg BT 140.41 585.80 Td (cash ) Tj ET Q q 0 0 0 rg BT 156.41 585.80 Td (balances ) Tj ET Q q 0 0 0 rg BT 185.73 585.80 Td (which ) Tj ET Q q 0 0 0 rg BT 207.07 585.80 Td (our ) Tj ET Q q 0 0 0 rg BT 219.52 585.80 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 259.08 585.80 Td (deposit ) Tj ET Q q 0 0 0 rg BT 283.98 585.80 Td (with ) Tj ET Q q 0 0 0 rg BT 299.98 585.80 Td (BMG. ) Tj ET Q q 0 0 0 rg BT 322.00 585.80 Td (Cash ) Tj ET Q q 0 0 0 rg BT 339.78 585.80 Td (deposited ) Tj ET Q q 0 0 0 rg BT 372.23 585.80 Td (by ) Tj ET Q q 0 0 0 rg BT 382.02 585.80 Td (our ) Tj ET Q q 0 0 0 rg BT 394.47 585.80 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 434.03 585.80 Td (with ) Tj ET Q q 0 0 0 rg BT 450.03 585.80 Td (BMG ) Tj ET Q q 0 0 0 rg BT 470.05 585.80 Td (is ) Tj ET Q q 0 0 0 rg BT 477.17 585.80 Td (pledged ) Tj ET Q q 0 0 0 rg BT 504.28 585.80 Td (as ) Tj ET Q q 0 0 0 rg BT 512.73 585.80 Td (security ) Tj ET Q q 0 0 0 rg BT 539.84 585.80 Td (against ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 576.20 Td (the ) Tj ET Q q 0 0 0 rg BT 79.27 576.20 Td (drawings ) Tj ET Q q 0 0 0 rg BT 110.60 576.20 Td (of ) Tj ET Q q 0 0 0 rg BT 119.27 576.20 Td (other ) Tj ET Q q 0 0 0 rg BT 137.70 576.20 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 177.48 576.20 Td (up ) Tj ET Q q 0 0 0 rg BT 187.48 576.20 Td (to ) Tj ET Q q 0 0 0 rg BT 195.70 576.20 Td (the ) Tj ET Q q 0 0 0 rg BT 207.47 576.20 Td (amount ) Tj ET Q q 0 0 0 rg BT 233.47 576.20 Td (deposited.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 563.60 Td (As ) Tj ET Q q 0 0 0 rg BT 78.79 563.60 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.95 563.60 Td (December31, ) Tj ET Q q 0 0 0 rg BT 134.21 563.60 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 150.21 563.60 Td (, ) Tj ET Q q 0 0 0 rg BT 154.61 563.60 Td (we ) Tj ET Q q 0 0 0 rg BT 166.33 563.60 Td (had ) Tj ET Q q 0 0 0 rg BT 180.28 563.60 Td (deposits ) Tj ET Q q 0 0 0 rg BT 208.89 563.60 Td (of ) Tj ET Q q 0 0 0 rg BT 217.95 563.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 234.57 563.60 Td (10.5 ) Tj ET Q q 0 0 0 rg BT 250.97 563.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.08 563.60 Td ( ) Tj ET Q q 0 0 0 rg BT 276.48 563.60 Td (in ) Tj ET Q q 0 0 0 rg BT 285.09 563.60 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.04 563.60 Td (no) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.04 563.60 Td ( ) Tj ET Q q 0 0 0 rg BT 309.43 563.60 Td (drawings ) Tj ET Q q 0 0 0 rg BT 341.16 563.60 Td (on ) Tj ET Q q 0 0 0 rg BT 351.55 563.60 Td (the ) Tj ET Q q 0 0 0 rg BT 363.72 563.60 Td (BMG ) Tj ET Q q 0 0 0 rg BT 384.34 563.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 400.95 563.60 Td (pool. ) Tj ET Q q 0 0 0 rg BT 419.57 563.60 Td (Interest ) Tj ET Q q 0 0 0 rg BT 445.95 563.60 Td (is ) Tj ET Q q 0 0 0 rg BT 453.68 563.60 Td (earned ) Tj ET Q q 0 0 0 rg BT 477.39 563.60 Td (on ) Tj ET Q q 0 0 0 rg BT 487.79 563.60 Td (deposits ) Tj ET Q q 0 0 0 rg BT 516.40 563.60 Td (at ) Tj ET Q q 0 0 0 rg BT 524.57 563.60 Td (the ) Tj ET Q q 0 0 0 rg BT 536.74 563.60 Td (relevant ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 554.00 Td (money ) Tj ET Q q 0 0 0 rg BT 91.30 554.00 Td (market ) Tj ET Q q 0 0 0 rg BT 115.54 554.00 Td (rate ) Tj ET Q q 0 0 0 rg BT 129.55 554.00 Td (and ) Tj ET Q q 0 0 0 rg BT 143.13 554.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 168.70 554.00 Td (is ) Tj ET Q q 0 0 0 rg BT 176.06 554.00 Td (payable ) Tj ET Q q 0 0 0 rg BT 202.97 554.00 Td (on ) Tj ET Q q 0 0 0 rg BT 212.99 554.00 Td (all ) Tj ET Q q 0 0 0 rg BT 223.01 554.00 Td (drawings ) Tj ET Q q 0 0 0 rg BT 254.37 554.00 Td (at ) Tj ET Q q 0 0 0 rg BT 262.17 554.00 Td (the ) Tj ET Q q 0 0 0 rg BT 273.97 554.00 Td (relevant ) Tj ET Q q 0 0 0 rg BT 301.76 554.00 Td (money ) Tj ET Q q 0 0 0 rg BT 325.56 554.00 Td (market. ) Tj ET Q q 0 0 0 rg BT 351.35 554.00 Td (As ) Tj ET Q q 0 0 0 rg BT 362.26 554.00 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.06 554.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 416.96 554.00 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.96 554.00 Td (, ) Tj ET Q q 0 0 0 rg BT 436.98 554.00 Td (we ) Tj ET Q q 0 0 0 rg BT 448.34 554.00 Td (had ) Tj ET Q q 0 0 0 rg BT 461.92 554.00 Td (deposits ) Tj ET Q q 0 0 0 rg BT 490.16 554.00 Td (of ) Tj ET Q q 0 0 0 rg BT 498.85 554.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.11 554.00 Td (21.8 ) Tj ET Q q 0 0 0 rg BT 531.13 554.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.25 554.00 Td ( ) Tj ET Q q 0 0 0 rg BT 556.27 554.00 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 544.40 Td (and ) Tj ET Q q 0 0 0 rg BT 81.05 544.40 Td (drawings ) Tj ET Q q 0 0 0 rg BT 112.38 544.40 Td (of ) Tj ET Q q 0 0 0 rg BT 121.04 544.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 137.27 544.40 Td (0.8 ) Tj ET Q q 0 0 0 rg BT 149.27 544.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 172.38 544.40 Td ( ) Tj ET Q q 0 0 0 rg BT 174.38 544.40 Td (on ) Tj ET Q q 0 0 0 rg BT 184.38 544.40 Td (the ) Tj ET Q q 0 0 0 rg BT 196.16 544.40 Td (BMG ) Tj ET Q q 0 0 0 rg BT 216.38 544.40 Td (cash ) Tj ET Q q 0 0 0 rg BT 232.60 544.40 Td (pool.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 531.80 Td (\(b\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 531.80 Td (As ) Tj ET Q q 0 0 0 rg BT 77.74 531.80 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 84.85 531.80 Td (December31, ) Tj ET Q q 0 0 0 rg BT 131.07 531.80 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 147.07 531.80 Td ( ) Tj ET Q q 0 0 0 rg BT 148.41 531.80 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 161.31 531.80 Td (December31, ) Tj ET Q q 0 0 0 rg BT 207.52 531.80 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 223.52 531.80 Td (, ) Tj ET Q q 0 0 0 rg BT 226.86 531.80 Td (there ) Tj ET Q q 0 0 0 rg BT 244.20 531.80 Td (were ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 261.08 531.80 Td (no) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 269.08 531.80 Td ( ) Tj ET Q q 0 0 0 rg BT 270.43 531.80 Td (drawings ) Tj ET Q q 0 0 0 rg BT 301.10 531.80 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 339.78 531.80 Td (under ) Tj ET Q q 0 0 0 rg BT 359.34 531.80 Td (a ) Tj ET Q q 0 0 0 rg BT 364.23 531.80 Td (CZK ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.58 531.80 Td (910.0 ) Tj ET Q q 0 0 0 rg BT 400.92 531.80 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 424.04 531.80 Td ( ) Tj ET Q q 0 0 0 rg BT 425.38 531.80 Td (\(approximately ) Tj ET Q q 0 0 0 rg BT 475.60 531.80 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.17 531.80 Td (39.9 ) Tj ET Q q 0 0 0 rg BT 506.51 531.80 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.63 531.80 Td (\) ) Tj ET Q q 0 0 0 rg BT 533.63 531.80 Td (factoring ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 522.20 Td (framework ) Tj ET Q q 0 0 0 rg BT 105.14 522.20 Td (agreement ) Tj ET Q q 0 0 0 rg BT 140.99 522.20 Td (with ) Tj ET Q q 0 0 0 rg BT 157.76 522.20 Td (Factoring ) Tj ET Q q 0 0 0 rg BT 190.96 522.20 Td (Ceska ) Tj ET Q q 0 0 0 rg BT 213.06 522.20 Td (Sporitelna ) Tj ET Q q 0 0 0 rg BT 248.49 522.20 Td (\(FCS\). ) Tj ET Q q 0 0 0 rg BT 279.69 522.20 Td (Under ) Tj ET Q q 0 0 0 rg BT 302.23 522.20 Td (this ) Tj ET Q q 0 0 0 rg BT 316.33 522.20 Td (facility ) Tj ET Q q 0 0 0 rg BT 341.53 522.20 Td (up ) Tj ET Q q 0 0 0 rg BT 352.08 522.20 Td (to ) Tj ET Q q 0 0 0 rg BT 360.84 522.20 Td (CZK ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.39 522.20 Td (910.0 ) Tj ET Q q 0 0 0 rg BT 399.93 522.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.04 522.20 Td ( ) Tj ET Q q 0 0 0 rg BT 425.59 522.20 Td (\(approximately ) Tj ET Q q 0 0 0 rg BT 477.00 522.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 493.77 522.20 Td (39.9 ) Tj ET Q q 0 0 0 rg BT 510.32 522.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.43 522.20 Td (\) ) Tj ET Q q 0 0 0 rg BT 538.64 522.20 Td (may ) Tj ET Q q 0 0 0 rg BT 554.96 522.20 Td (be ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 512.60 Td (factored ) Tj ET Q q 0 0 0 rg BT 96.28 512.60 Td (on ) Tj ET Q q 0 0 0 rg BT 106.86 512.60 Td (a ) Tj ET Q q 0 0 0 rg BT 112.98 512.60 Td (recourse ) Tj ET Q q 0 0 0 rg BT 142.65 512.60 Td (or ) Tj ET Q q 0 0 0 rg BT 151.89 512.60 Td (non-recourse ) Tj ET Q q 0 0 0 rg BT 196.23 512.60 Td (basis. ) Tj ET Q q 0 0 0 rg BT 216.62 512.60 Td (The ) Tj ET Q q 0 0 0 rg BT 231.63 512.60 Td (facility ) Tj ET Q q 0 0 0 rg BT 256.86 512.60 Td (bears ) Tj ET Q q 0 0 0 rg BT 276.32 512.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 302.44 512.60 Td (at ) Tj ET Q q 0 0 0 rg BT 310.79 512.60 Td (one-month ) Tj ET Q q 0 0 0 rg BT 348.03 512.60 Td (PRIBOR ) Tj ET Q q 0 0 0 rg BT 379.50 512.60 Td (plus ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 395.41 512.60 Td (2.5%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.08 512.60 Td ( ) Tj ET Q q 0 0 0 rg BT 414.65 512.60 Td (for ) Tj ET Q q 0 0 0 rg BT 426.56 512.60 Td (the ) Tj ET Q q 0 0 0 rg BT 438.91 512.60 Td (period ) Tj ET Q q 0 0 0 rg BT 461.92 512.60 Td (that ) Tj ET Q q 0 0 0 rg BT 476.49 512.60 Td (actively ) Tj ET Q q 0 0 0 rg BT 504.39 512.60 Td (assigned ) Tj ET Q q 0 0 0 rg BT 534.52 512.60 Td (accounts ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 503.00 Td (receivable ) Tj ET Q q 0 0 0 rg BT 102.36 503.00 Td (are ) Tj ET Q q 0 0 0 rg BT 114.13 503.00 Td (outstanding.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 490.40 Td (\(c\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 490.40 Td (As ) Tj ET Q q 0 0 0 rg BT 78.60 490.40 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.59 490.40 Td (December31, ) Tj ET Q q 0 0 0 rg BT 133.67 490.40 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 149.67 490.40 Td ( ) Tj ET Q q 0 0 0 rg BT 151.88 490.40 Td (and ) Tj ET Q q 0 0 0 rg BT 165.64 490.40 Td (2013, ) Tj ET Q q 0 0 0 rg BT 185.85 490.40 Td (our ) Tj ET Q q 0 0 0 rg BT 198.73 490.40 Td (operations ) Tj ET Q q 0 0 0 rg BT 234.27 490.40 Td (in ) Tj ET Q q 0 0 0 rg BT 242.70 490.40 Td (Romania ) Tj ET Q q 0 0 0 rg BT 273.79 490.40 Td (had ) Tj ET Q q 0 0 0 rg BT 287.56 490.40 Td (an ) Tj ET Q q 0 0 0 rg BT 297.32 490.40 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 330.62 490.40 Td (principal ) Tj ET Q q 0 0 0 rg BT 361.27 490.40 Td (amount ) Tj ET Q q 0 0 0 rg BT 387.48 490.40 Td (of ) Tj ET Q q 0 0 0 rg BT 396.35 490.40 Td (RON ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.45 490.40 Td (12.5 ) Tj ET Q q 0 0 0 rg BT 431.67 490.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 454.78 490.40 Td ( ) Tj ET Q q 0 0 0 rg BT 456.99 490.40 Td (\(approximately ) Tj ET Q q 0 0 0 rg BT 508.07 490.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 524.51 490.40 Td (3.4 ) Tj ET Q q 0 0 0 rg BT 536.72 490.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.84 490.40 Td (\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 480.80 Td (and ) Tj ET Q q 0 0 0 rg BT 81.56 480.80 Td (RON ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 100.97 480.80 Td (12.5 ) Tj ET Q q 0 0 0 rg BT 117.48 480.80 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 140.60 480.80 Td (, ) Tj ET Q q 0 0 0 rg BT 145.11 480.80 Td (respectively) Tj ET Q q 0 0 0 rg BT 183.24 480.80 Td (, ) Tj ET Q q 0 0 0 rg BT 187.75 480.80 Td (of ) Tj ET Q q 0 0 0 rg BT 196.93 480.80 Td (loans ) Tj ET Q q 0 0 0 rg BT 216.33 480.80 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 256.18 480.80 Td (with ) Tj ET Q q 0 0 0 rg BT 272.91 480.80 Td (the ) Tj ET Q q 0 0 0 rg BT 285.20 480.80 Td (Central ) Tj ET Q q 0 0 0 rg BT 311.26 480.80 Td (National ) Tj ET Q q 0 0 0 rg BT 341.32 480.80 Td (al ) Tj ET Q q 0 0 0 rg BT 349.61 480.80 Td (Cinematografei ) Tj ET Q q 0 0 0 rg BT 401.88 480.80 Td (\("CNC"\), ) Tj ET Q q 0 0 0 rg BT 434.70 480.80 Td (a ) Tj ET Q q 0 0 0 rg BT 440.77 480.80 Td (Romanian ) Tj ET Q q 0 0 0 rg BT 476.16 480.80 Td (governmental ) Tj ET Q q 0 0 0 rg BT 522.66 480.80 Td (or) Tj ET Q q 0 0 0 rg BT 529.18 480.80 Td (ganization ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 471.20 Td (which ) Tj ET Q q 0 0 0 rg BT 89.20 471.20 Td (provides ) Tj ET Q q 0 0 0 rg BT 118.89 471.20 Td (financing ) Tj ET Q q 0 0 0 rg BT 151.25 471.20 Td (for ) Tj ET Q q 0 0 0 rg BT 162.72 471.20 Td (qualifying ) Tj ET Q q 0 0 0 rg BT 197.75 471.20 Td (filmmaking ) Tj ET Q q 0 0 0 rg BT 237.22 471.20 Td (projects. ) Tj ET Q q 0 0 0 rg BT 266.69 471.20 Td (Upon ) Tj ET Q q 0 0 0 rg BT 286.61 471.20 Td (acceptance ) Tj ET Q q 0 0 0 rg BT 323.83 471.20 Td (of ) Tj ET Q q 0 0 0 rg BT 332.64 471.20 Td (a ) Tj ET Q q 0 0 0 rg BT 338.34 471.20 Td (particular ) Tj ET Q q 0 0 0 rg BT 371.13 471.20 Td (project, ) Tj ET Q q 0 0 0 rg BT 397.48 471.20 Td (the ) Tj ET Q q 0 0 0 rg BT 409.40 471.20 Td (CNC ) Tj ET Q q 0 0 0 rg BT 428.00 471.20 Td (awards ) Tj ET Q q 0 0 0 rg BT 452.80 471.20 Td (an ) Tj ET Q q 0 0 0 rg BT 462.49 471.20 Td (agreed ) Tj ET Q q 0 0 0 rg BT 485.95 471.20 Td (level ) Tj ET Q q 0 0 0 rg BT 503.64 471.20 Td (of ) Tj ET Q q 0 0 0 rg BT 512.45 471.20 Td (funding ) Tj ET Q q 0 0 0 rg BT 539.48 471.20 Td (to ) Tj ET Q q 0 0 0 rg BT 547.85 471.20 Td (each ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 461.60 Td (project ) Tj ET Q q 0 0 0 rg BT 91.81 461.60 Td (in ) Tj ET Q q 0 0 0 rg BT 100.14 461.60 Td (the ) Tj ET Q q 0 0 0 rg BT 112.01 461.60 Td (form ) Tj ET Q q 0 0 0 rg BT 129.67 461.60 Td (of ) Tj ET Q q 0 0 0 rg BT 138.43 461.60 Td (an ) Tj ET Q q 0 0 0 rg BT 148.09 461.60 Td (interest-free ) Tj ET Q q 0 0 0 rg BT 188.83 461.60 Td (loan. ) Tj ET Q q 0 0 0 rg BT 206.71 461.60 Td (Loans ) Tj ET Q q 0 0 0 rg BT 228.36 461.60 Td (from ) Tj ET Q q 0 0 0 rg BT 246.01 461.60 Td (the ) Tj ET Q q 0 0 0 rg BT 257.89 461.60 Td (CNC ) Tj ET Q q 0 0 0 rg BT 276.44 461.60 Td (are ) Tj ET Q q 0 0 0 rg BT 288.31 461.60 Td (typically ) Tj ET Q q 0 0 0 rg BT 318.40 461.60 Td (advanced ) Tj ET Q q 0 0 0 rg BT 350.71 461.60 Td (for ) Tj ET Q q 0 0 0 rg BT 362.14 461.60 Td (a ) Tj ET Q q 0 0 0 rg BT 367.79 461.60 Td (period ) Tj ET Q q 0 0 0 rg BT 390.33 461.60 Td (of ) Tj ET Q q 0 0 0 rg BT 399.10 461.60 Td (ten ) Tj ET Q q 0 0 0 rg BT 410.98 461.60 Td (years ) Tj ET Q q 0 0 0 rg BT 429.96 461.60 Td (and ) Tj ET Q q 0 0 0 rg BT 443.61 461.60 Td (are ) Tj ET Q q 0 0 0 rg BT 455.48 461.60 Td (repaid ) Tj ET Q q 0 0 0 rg BT 477.57 461.60 Td (through ) Tj ET Q q 0 0 0 rg BT 504.56 461.60 Td (the ) Tj ET Q q 0 0 0 rg BT 516.44 461.60 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 546.97 461.60 Td (from ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 452.00 Td (the ) Tj ET Q q 0 0 0 rg BT 79.22 452.00 Td (distribution ) Tj ET Q q 0 0 0 rg BT 118.07 452.00 Td (of ) Tj ET Q q 0 0 0 rg BT 126.68 452.00 Td (the ) Tj ET Q q 0 0 0 rg BT 138.41 452.00 Td (film ) Tj ET Q q 0 0 0 rg BT 153.69 452.00 Td (content. ) Tj ET Q q 0 0 0 rg BT 180.76 452.00 Td (At ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 190.71 452.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 237.53 452.00 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.53 452.00 Td (, ) Tj ET Q q 0 0 0 rg BT 257.48 452.00 Td (we ) Tj ET Q q 0 0 0 rg BT 268.76 452.00 Td (had ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 282.26 452.00 Td (15) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 290.26 452.00 Td ( ) Tj ET Q q 0 0 0 rg BT 292.21 452.00 Td (loans ) Tj ET Q q 0 0 0 rg BT 311.05 452.00 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 350.33 452.00 Td (with ) Tj ET Q q 0 0 0 rg BT 366.50 452.00 Td (the ) Tj ET Q q 0 0 0 rg BT 378.23 452.00 Td (CNC ) Tj ET Q q 0 0 0 rg BT 396.63 452.00 Td (with ) Tj ET Q q 0 0 0 rg BT 412.80 452.00 Td (maturity ) Tj ET Q q 0 0 0 rg BT 441.86 452.00 Td (dates ) Tj ET Q q 0 0 0 rg BT 460.25 452.00 Td (ranging ) Tj ET Q q 0 0 0 rg BT 486.64 452.00 Td (from ) Tj ET Q q 0 0 0 rg BT 504.14 452.00 Td (2017 ) Tj ET Q q 0 0 0 rg BT 522.09 452.00 Td (to ) Tj ET Q q 0 0 0 rg BT 530.26 452.00 Td (2024. ) Tj ET Q q 0 0 0 rg BT 550.07 452.00 Td (The ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 442.40 Td (carrying ) Tj ET Q q 0 0 0 rg BT 96.50 442.40 Td (amounts ) Tj ET Q q 0 0 0 rg BT 125.95 442.40 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 134.06 442.40 Td (December31, ) Tj ET Q q 0 0 0 rg BT 181.27 442.40 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 197.27 442.40 Td ( ) Tj ET Q q 0 0 0 rg BT 199.62 442.40 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 213.51 442.40 Td (December31, ) Tj ET Q q 0 0 0 rg BT 260.72 442.40 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 276.72 442.40 Td ( ) Tj ET Q q 0 0 0 rg BT 279.06 442.40 Td (are ) Tj ET Q q 0 0 0 rg BT 291.17 442.40 Td (net ) Tj ET Q q 0 0 0 rg BT 303.29 442.40 Td (of ) Tj ET Q q 0 0 0 rg BT 312.29 442.40 Td (a ) Tj ET Q q 0 0 0 rg BT 318.19 442.40 Td (fair ) Tj ET Q q 0 0 0 rg BT 331.63 442.40 Td (value ) Tj ET Q q 0 0 0 rg BT 351.30 442.40 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 388.75 442.40 Td (of ) Tj ET Q q 0 0 0 rg BT 397.75 442.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 414.32 442.40 Td (0.3 ) Tj ET Q q 0 0 0 rg BT 426.67 442.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.78 442.40 Td ( ) Tj ET Q q 0 0 0 rg BT 452.12 442.40 Td (and ) Tj ET Q q 0 0 0 rg BT 466.02 442.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.58 442.40 Td (0.6 ) Tj ET Q q 0 0 0 rg BT 494.93 442.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 518.04 442.40 Td (, ) Tj ET Q q 0 0 0 rg BT 522.38 442.40 Td (respectively) Tj ET Q q 0 0 0 rg BT 560.51 442.40 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 432.80 Td (arising ) Tj ET Q q 0 0 0 rg BT 91.27 432.80 Td (on ) Tj ET Q q 0 0 0 rg BT 101.27 432.80 Td (acquisition.) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 49.50 414.20 Td (T) Tj ET Q q 0 0 0 rg BT 53.65 414.20 Td (otal ) Tj ET Q q 0 0 0 rg BT 68.10 414.20 Td (Group) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 398.60 Td (At ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.50 398.60 Td (December31, ) Tj ET Q q 0 0 0 rg BT 106.37 398.60 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 122.37 398.60 Td (, ) Tj ET Q q 0 0 0 rg BT 126.37 398.60 Td (the ) Tj ET Q q 0 0 0 rg BT 138.14 398.60 Td (maturity ) Tj ET Q q 0 0 0 rg BT 167.25 398.60 Td (of ) Tj ET Q q 0 0 0 rg BT 175.91 398.60 Td (our ) Tj ET Q q 0 0 0 rg BT 188.57 398.60 Td (senior ) Tj ET Q q 0 0 0 rg BT 210.13 398.60 Td (debt ) Tj ET Q q 0 0 0 rg BT 225.90 398.60 Td (and ) Tj ET Q q 0 0 0 rg BT 239.45 398.60 Td (credit ) Tj ET Q q 0 0 0 rg BT 259.66 398.60 Td (facilities ) Tj ET Q q 0 0 0 rg BT 289.20 398.60 Td (was ) Tj ET Q q 0 0 0 rg BT 303.64 398.60 Td (as ) Tj ET Q q 0 0 0 rg BT 312.31 398.60 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 388.10 443.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 388.10 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 358.10 443.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 358.10 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 328.10 443.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 328.10 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 298.10 443.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 298.10 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 268.10 443.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 268.10 70.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 298.1 m 563 298.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 268.1 m 563 268.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 254.10000000000002 m 563 254.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 252.10000000000002 m 563 252.10000000000002 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 377.35 Td (2015 ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 70.50 380.98 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.50 377.35 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.80 377.35 Td (261,039) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 362.35 Td (2016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.80 362.35 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 347.35 Td (2017 ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 70.50 350.98 Td (\(2\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.80 347.35 Td (797,757) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 332.35 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.80 332.35 Td (460) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 317.35 Td (2019) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.80 317.35 Td (314) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 302.35 Td (2020 ) Tj ET Q q 0 0 0 rg BT 70.50 302.35 Td (and ) Tj ET Q q 0 0 0 rg BT 84.05 302.35 Td (thereafter) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.80 302.35 Td (2,248) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 287.33 Td (T) Tj ET Q q 0 0 0 rg BT 57.47 287.33 Td (otal ) Tj ET Q q 0 0 0 rg BT 71.99 287.33 Td (senior) Tj ET Q q 0 0 0 rg BT 92.80 287.33 Td ( ) Tj ET Q q 0 0 0 rg BT 94.73 287.33 Td (debt ) Tj ET Q q 0 0 0 rg BT 111.84 287.33 Td (and ) Tj ET Q q 0 0 0 rg BT 126.74 287.33 Td (cr) Tj ET Q q 0 0 0 rg BT 133.77 287.33 Td (edit ) Tj ET Q q 0 0 0 rg BT 148.59 287.33 Td (facilities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.80 287.33 Td (1,061,818) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 272.35 Td (Net ) Tj ET Q q 0 0 0 rg BT 66.05 272.35 Td (discount) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.10 272.35 Td (\(191,351) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.80 272.35 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 257.33 Td (Carrying ) Tj ET Q q 0 0 0 rg BT 86.05 257.33 Td (amount ) Tj ET Q q 0 0 0 rg BT 114.28 257.33 Td (of ) Tj ET Q q 0 0 0 rg BT 122.94 257.33 Td (senior) Tj ET Q q 0 0 0 rg BT 143.68 257.33 Td ( ) Tj ET Q q 0 0 0 rg BT 145.68 257.33 Td (debt ) Tj ET Q q 0 0 0 rg BT 162.80 257.33 Td (and ) Tj ET Q q 0 0 0 rg BT 177.70 257.33 Td (cr) Tj ET Q q 0 0 0 rg BT 184.65 257.33 Td (edit ) Tj ET Q q 0 0 0 rg BT 199.54 257.33 Td (facilities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 495.50 257.33 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 257.33 Td (870,467) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 244.00 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 67.50 244.00 Td (Amount ) Tj ET Q q 0 0 0 rg BT 96.03 244.00 Td (includes ) Tj ET Q q 0 0 0 rg BT 124.99 244.00 Td (the ) Tj ET Q q 0 0 0 rg BT 137.07 244.00 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 176.71 244.00 Td (principal ) Tj ET Q q 0 0 0 rg BT 207.45 244.00 Td (amount ) Tj ET Q q 0 0 0 rg BT 233.75 244.00 Td (of ) Tj ET Q q 0 0 0 rg BT 242.71 244.00 Td (the ) Tj ET Q q 0 0 0 rg BT 254.79 244.00 Td (2015 ) Tj ET Q q 0 0 0 rg BT 273.10 244.00 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 313.17 244.00 Td (Notes ) Tj ET Q q 0 0 0 rg BT 334.14 244.00 Td (due ) Tj ET Q q 0 0 0 rg BT 348.00 244.00 Td (November ) Tj ET Q q 0 0 0 rg BT 384.07 244.00 Td (15, ) Tj ET Q q 0 0 0 rg BT 396.37 244.00 Td (2015. ) Tj ET Q q 0 0 0 rg BT 416.17 244.00 Td (As ) Tj ET Q q 0 0 0 rg BT 427.36 244.00 Td (noted ) Tj ET Q q 0 0 0 rg BT 447.44 244.00 Td (above ) Tj ET Q q 0 0 0 rg BT 468.85 244.00 Td (under ) Tj ET Q q 0 0 0 rg BT 489.37 244.00 Td (the ) Tj ET Q q 0 0 0 rg BT 501.44 244.00 Td (heading ) Tj ET Q q 0 0 0 rg BT 529.07 244.00 Td ('Financing ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 234.40 Td (T) Tj ET Q q 0 0 0 rg BT 72.11 234.40 Td (ransactions' ) Tj ET Q q 0 0 0 rg BT 111.00 234.40 Td (we ) Tj ET Q q 0 0 0 rg BT 121.79 234.40 Td (have ) Tj ET Q q 0 0 0 rg BT 138.36 234.40 Td (entered ) Tj ET Q q 0 0 0 rg BT 163.36 234.40 Td (into ) Tj ET Q q 0 0 0 rg BT 177.27 234.40 Td (the ) Tj ET Q q 0 0 0 rg BT 188.51 234.40 Td (2015 ) Tj ET Q q 0 0 0 rg BT 205.98 234.40 Td (Refinancing ) Tj ET Q q 0 0 0 rg BT 246.54 234.40 Td (Commitment ) Tj ET Q q 0 0 0 rg BT 290.23 234.40 Td (Letter ) Tj ET Q q 0 0 0 rg BT 310.79 234.40 Td (to ) Tj ET Q q 0 0 0 rg BT 318.48 234.40 Td (refinance ) Tj ET Q q 0 0 0 rg BT 349.70 234.40 Td (the ) Tj ET Q q 0 0 0 rg BT 360.93 234.40 Td (2015 ) Tj ET Q q 0 0 0 rg BT 378.40 234.40 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 417.63 234.40 Td (Notes ) Tj ET Q q 0 0 0 rg BT 437.76 234.40 Td (at ) Tj ET Q q 0 0 0 rg BT 445.00 234.40 Td (or ) Tj ET Q q 0 0 0 rg BT 453.13 234.40 Td (immediately ) Tj ET Q q 0 0 0 rg BT 494.58 234.40 Td (prior ) Tj ET Q q 0 0 0 rg BT 511.60 234.40 Td (to ) Tj ET Q q 0 0 0 rg BT 519.29 234.40 Td (their ) Tj ET Q q 0 0 0 rg BT 535.41 234.40 Td (maturity ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 224.80 Td (with ) Tj ET Q q 0 0 0 rg BT 83.72 224.80 Td (a ) Tj ET Q q 0 0 0 rg BT 89.27 224.80 Td (new ) Tj ET Q q 0 0 0 rg BT 104.60 224.80 Td (facility ) Tj ET Q q 0 0 0 rg BT 129.26 224.80 Td (which ) Tj ET Q q 0 0 0 rg BT 150.81 224.80 Td (will ) Tj ET Q q 0 0 0 rg BT 165.25 224.80 Td (mature ) Tj ET Q q 0 0 0 rg BT 189.46 224.80 Td (in ) Tj ET Q q 0 0 0 rg BT 197.69 224.80 Td (2019.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 215.20 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 67.50 215.20 Td (Includes ) Tj ET Q q 0 0 0 rg BT 96.66 215.20 Td (amounts ) Tj ET Q q 0 0 0 rg BT 125.83 215.20 Td (drawn ) Tj ET Q q 0 0 0 rg BT 147.89 215.20 Td (under ) Tj ET Q q 0 0 0 rg BT 168.16 215.20 Td (the ) Tj ET Q q 0 0 0 rg BT 180.00 215.20 Td (2017 ) Tj ET Q q 0 0 0 rg BT 198.06 215.20 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 233.45 215.20 Td (Credit ) Tj ET Q q 0 0 0 rg BT 255.51 215.20 Td (Facility ) Tj ET Q q 0 0 0 rg BT 282.01 215.20 Td (assumed ) Tj ET Q q 0 0 0 rg BT 311.63 215.20 Td (to ) Tj ET Q q 0 0 0 rg BT 319.91 215.20 Td (be ) Tj ET Q q 0 0 0 rg BT 329.52 215.20 Td (repaid ) Tj ET Q q 0 0 0 rg BT 351.57 215.20 Td (at ) Tj ET Q q 0 0 0 rg BT 359.41 215.20 Td (maturity ) Tj ET Q q 0 0 0 rg BT 388.58 215.20 Td (on ) Tj ET Q q 0 0 0 rg BT 398.64 215.20 Td (December ) Tj ET Q q 0 0 0 rg BT 433.57 215.20 Td (1, ) Tj ET Q q 0 0 0 rg BT 441.63 215.20 Td (2017, ) Tj ET Q q 0 0 0 rg BT 461.69 215.20 Td (although ) Tj ET Q q 0 0 0 rg BT 491.75 215.20 Td (actual ) Tj ET Q q 0 0 0 rg BT 512.91 215.20 Td (repayment ) Tj ET Q q 0 0 0 rg BT 548.73 215.20 Td (may ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 205.60 Td (occur ) Tj ET Q q 0 0 0 rg BT 87.27 205.60 Td (sooner ) Tj ET Q q 0 0 0 rg BT 110.59 205.60 Td (based ) Tj ET Q q 0 0 0 rg BT 130.81 205.60 Td (on ) Tj ET Q q 0 0 0 rg BT 140.81 205.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 157.02 205.60 Td (amounts ) Tj ET Q q 0 0 0 rg BT 186.13 205.60 Td (available ) Tj ET Q q 0 0 0 rg BT 217.00 205.60 Td (and ) Tj ET Q q 0 0 0 rg BT 230.55 205.60 Td (expected ) Tj ET Q q 0 0 0 rg BT 260.98 205.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 277.20 205.60 Td (requirements.) Tj ET Q endstream endobj 131 0 obj <>] /Rotate 0 /Contents 132 0 R>> endobj 132 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (63) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 723.45 Td (Capital ) Tj ET Q q 0 0 0 rg BT 75.50 723.45 Td (Lease ) Tj ET Q q 0 0 0 rg BT 96.17 723.45 Td (Commitments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 707.85 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 707.85 Td (e ) Tj ET Q q 0 0 0 rg BT 61.37 707.85 Td (lease ) Tj ET Q q 0 0 0 rg BT 78.76 707.85 Td (certain ) Tj ET Q q 0 0 0 rg BT 101.93 707.85 Td (of ) Tj ET Q q 0 0 0 rg BT 110.00 707.85 Td (our ) Tj ET Q q 0 0 0 rg BT 122.07 707.85 Td (of) Tj ET Q q 0 0 0 rg BT 128.58 707.85 Td (fice ) Tj ET Q q 0 0 0 rg BT 141.98 707.85 Td (and ) Tj ET Q q 0 0 0 rg BT 154.93 707.85 Td (broadcast ) Tj ET Q q 0 0 0 rg BT 186.99 707.85 Td (facilities ) Tj ET Q q 0 0 0 rg BT 215.94 707.85 Td (as ) Tj ET Q q 0 0 0 rg BT 224.01 707.85 Td (well ) Tj ET Q q 0 0 0 rg BT 239.19 707.85 Td (as ) Tj ET Q q 0 0 0 rg BT 247.26 707.85 Td (machinery ) Tj ET Q q 0 0 0 rg BT 282.42 707.85 Td (and ) Tj ET Q q 0 0 0 rg BT 295.38 707.85 Td (equipment ) Tj ET Q q 0 0 0 rg BT 330.56 707.85 Td (under ) Tj ET Q q 0 0 0 rg BT 350.18 707.85 Td (various ) Tj ET Q q 0 0 0 rg BT 375.13 707.85 Td (leasing ) Tj ET Q q 0 0 0 rg BT 399.20 707.85 Td (arrangements. ) Tj ET Q q 0 0 0 rg BT 445.59 707.85 Td (The ) Tj ET Q q 0 0 0 rg BT 459.43 707.85 Td (future ) Tj ET Q q 0 0 0 rg BT 479.94 707.85 Td (minimum ) Tj ET Q q 0 0 0 rg BT 512.46 707.85 Td (lease ) Tj ET Q q 0 0 0 rg BT 529.85 707.85 Td (payments, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (by ) Tj ET Q q 0 0 0 rg BT 60.37 698.25 Td (year ) Tj ET Q q 0 0 0 rg BT 77.00 698.25 Td (and ) Tj ET Q q 0 0 0 rg BT 91.42 698.25 Td (in ) Tj ET Q q 0 0 0 rg BT 100.52 698.25 Td (the ) Tj ET Q q 0 0 0 rg BT 113.16 698.25 Td (aggregate, ) Tj ET Q q 0 0 0 rg BT 149.12 698.25 Td (under ) Tj ET Q q 0 0 0 rg BT 170.20 698.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 194.39 698.25 Td (leases ) Tj ET Q q 0 0 0 rg BT 216.36 698.25 Td (with ) Tj ET Q q 0 0 0 rg BT 233.45 698.25 Td (initial ) Tj ET Q q 0 0 0 rg BT 254.99 698.25 Td (or ) Tj ET Q q 0 0 0 rg BT 264.52 698.25 Td (remaining ) Tj ET Q q 0 0 0 rg BT 299.82 698.25 Td (non-cancellable ) Tj ET Q q 0 0 0 rg BT 353.33 698.25 Td (lease ) Tj ET Q q 0 0 0 rg BT 372.19 698.25 Td (terms ) Tj ET Q q 0 0 0 rg BT 392.83 698.25 Td (in ) Tj ET Q q 0 0 0 rg BT 401.92 698.25 Td (excess ) Tj ET Q q 0 0 0 rg BT 425.67 698.25 Td (of ) Tj ET Q q 0 0 0 rg BT 435.20 698.25 Td (one ) Tj ET Q q 0 0 0 rg BT 449.62 698.25 Td (year) Tj ET Q q 0 0 0 rg BT 463.07 698.25 Td (, ) Tj ET Q q 0 0 0 rg BT 467.94 698.25 Td (consisted ) Tj ET Q q 0 0 0 rg BT 500.58 698.25 Td (of ) Tj ET Q q 0 0 0 rg BT 510.11 698.25 Td (the ) Tj ET Q q 0 0 0 rg BT 522.75 698.25 Td (following ) Tj ET Q q 0 0 0 rg BT 556.73 698.25 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 688.65 Td (December31, ) Tj ET Q q 0 0 0 rg BT 96.37 688.65 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 112.37 688.65 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 678.15 442.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 678.15 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 648.15 442.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 648.15 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 618.15 442.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 618.15 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 588.15 442.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 588.15 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 558.15 442.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 558.15 70.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 588.15 m 562 588.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 558.15 m 562 558.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 544.15 m 562 544.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 542.15 m 562 542.15 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 667.40 Td (2015) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.50 667.40 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 667.40 Td (1,143) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 652.40 Td (2016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 652.40 Td (963) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 637.40 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 637.40 Td (825) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 622.40 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 622.40 Td (525) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 607.40 Td (2019) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 607.40 Td (329) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 592.40 Td (2020 ) Tj ET Q q 0 0 0 rg BT 70.50 592.40 Td (and ) Tj ET Q q 0 0 0 rg BT 84.05 592.40 Td (thereafter) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 592.40 Td (82) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 577.38 Td (Total undiscounted payments) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.80 577.38 Td (3,867) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 562.40 Td (Less: ) Tj ET Q q 0 0 0 rg BT 71.39 562.40 Td (amount ) Tj ET Q q 0 0 0 rg BT 97.38 562.40 Td (representing ) Tj ET Q q 0 0 0 rg BT 138.92 562.40 Td (interest) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.10 562.40 Td (\(235) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 562.40 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 547.38 Td (Pr) Tj ET Q q 0 0 0 rg BT 60.79 547.38 Td (esent ) Tj ET Q q 0 0 0 rg BT 80.12 547.38 Td (value ) Tj ET Q q 0 0 0 rg BT 100.34 547.38 Td (of ) Tj ET Q q 0 0 0 rg BT 109.01 547.38 Td (net ) Tj ET Q q 0 0 0 rg BT 121.67 547.38 Td (minimum ) Tj ET Q q 0 0 0 rg BT 157.01 547.38 Td (lease ) Tj ET Q q 0 0 0 rg BT 175.45 547.38 Td (payments) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.50 547.38 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.80 547.38 Td (3,632) Tj ET Q BT /F1 8.00 Tf ET BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 522.05 Td (6. ) Tj ET Q q 0 0 0 rg BT 67.50 522.05 Td (PROGRAM ) Tj ET Q q 0 0 0 rg BT 111.71 522.05 Td (RIGHTS) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 506.45 Td (Program ) Tj ET Q q 0 0 0 rg BT 79.05 506.45 Td (rights ) Tj ET Q q 0 0 0 rg BT 99.27 506.45 Td (comprised ) Tj ET Q q 0 0 0 rg BT 134.60 506.45 Td (the ) Tj ET Q q 0 0 0 rg BT 146.37 506.45 Td (following ) Tj ET Q q 0 0 0 rg BT 179.48 506.45 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 187.25 506.45 Td (December31, ) Tj ET Q q 0 0 0 rg BT 234.12 506.45 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 250.12 506.45 Td ( ) Tj ET Q q 0 0 0 rg BT 252.12 506.45 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 265.67 506.45 Td (December31, ) Tj ET Q q 0 0 0 rg BT 312.54 506.45 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.54 506.45 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 480.95 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 480.95 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 480.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 480.95 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 450.95 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 450.95 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 450.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 450.95 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 420.95 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 420.95 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 420.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 420.95 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 390.95 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 390.95 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 390.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 390.95 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 360.95 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 360.95 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 360.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 360.95 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 330.95 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 330.95 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 330.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 330.95 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 300.95 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 300.95 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 300.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 300.95 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 270.95 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 270.95 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 270.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 270.95 90.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 378 480.95000000000005 m 468 480.95000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472 480.95000000000005 m 562 480.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 435.95000000000005 m 468 435.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 435.95000000000005 m 562 435.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 270.95000000000005 m 468 270.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 270.95000000000005 m 562 270.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 255.95000000000005 m 468 255.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 241.95000000000005 m 468 241.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 239.95000000000005 m 468 239.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 255.95000000000005 m 562 255.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 241.95000000000005 m 562 241.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 239.95000000000005 m 562 239.95000000000005 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 400.00 485.18 Td (December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.00 485.18 Td (December 31, 2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 470.20 Td (Program rights:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 455.20 Td (Acquired program rights, net of amortization) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.50 455.20 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.80 455.20 Td (217,183) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.50 455.20 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 455.20 Td (297,439) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 440.20 Td (Less: current portion of acquired program rights) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.10 440.20 Td (\(99,358) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.80 440.20 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 440.20 Td (\(96,099) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 440.20 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 425.18 Td (Total non-current acquired program rights) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.80 425.18 Td (117,825) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.80 425.18 Td (201,340) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 410.20 Td (Produced program rights Feature Films:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 395.20 Td (Released, net of amortization) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.80 395.20 Td (4,553) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 395.20 Td (4,171) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 380.20 Td (Completed and not released) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.80 380.20 Td (558) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 380.20 Td (128) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 365.20 Td (In production) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.80 365.20 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 365.20 Td (1,600) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 350.20 Td (Development and pre-production) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.80 350.20 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 350.20 Td (804) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 335.20 Td (Produced program rights Television Programs:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 320.20 Td (Released, net of amortization) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 320.20 Td (60,691) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 320.20 Td (41,174) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 305.20 Td (Completed and not released) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.80 305.20 Td (7,370) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 305.20 Td (3,915) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 290.20 Td (In production) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 290.20 Td (15,786) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 290.20 Td (17,012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 275.20 Td (Development and pre-production) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.80 275.20 Td (481) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 275.20 Td (2,853) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 260.18 Td (Total produced program rights) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.80 260.18 Td (89,439) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.80 260.18 Td (71,657) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 245.18 Td (Total non-current acquired program rights and produced program rights) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 380.50 245.18 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.80 245.18 Td (207,264) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 474.50 245.18 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.80 245.18 Td (272,997) Tj ET Q BT /F1 8.00 Tf ET BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 219.85 Td (7. ) Tj ET Q q 0 0 0 rg BT 67.50 219.85 Td (ACCOUNTS ) Tj ET Q q 0 0 0 rg BT 114.39 219.85 Td (RECEIV) Tj ET Q q 0 0 0 rg BT 144.48 219.85 Td (ABLE) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 204.25 Td (Accounts ) Tj ET Q q 0 0 0 rg BT 81.71 204.25 Td (receivable ) Tj ET Q q 0 0 0 rg BT 116.58 204.25 Td (comprised ) Tj ET Q q 0 0 0 rg BT 151.90 204.25 Td (the ) Tj ET Q q 0 0 0 rg BT 163.68 204.25 Td (following ) Tj ET Q q 0 0 0 rg BT 196.79 204.25 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 204.56 204.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 251.43 204.25 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.43 204.25 Td ( ) Tj ET Q q 0 0 0 rg BT 269.43 204.25 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 282.98 204.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 329.84 204.25 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 345.84 204.25 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 178.75 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 178.75 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 178.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 178.75 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 148.75 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 148.75 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 148.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 148.75 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 118.75 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 118.75 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 118.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 118.75 90.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 378 178.75 m 468 178.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472 178.75 m 562 178.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 118.75 m 468 118.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 104.75 m 468 104.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 102.75 m 468 102.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 118.75 m 562 118.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 104.75 m 562 104.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 102.75 m 562 102.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 183.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 400.00 182.98 Td (December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.00 182.98 Td (December 31, 2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 168.00 Td (Unrelated customers) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.50 168.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.80 168.00 Td (186,404) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.50 168.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 168.00 Td (182,517) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 153.00 Td (Less: allowance for bad debts and credit notes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.10 153.00 Td (\(10,692) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.80 153.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 153.00 Td (\(14,558) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 153.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 138.00 Td (Related parties) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.80 138.00 Td (197) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 138.00 Td (1,326) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 123.00 Td (Less: allowance for bad debts and credit notes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 454.10 123.00 Td (\(43) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.80 123.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.10 123.00 Td (\(231) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 123.00 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 107.98 Td (Total accounts receivable) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 380.50 107.98 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.80 107.98 Td (175,866) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 474.50 107.98 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.80 107.98 Td (169,054) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 88.65 Td (Bad ) Tj ET Q q 0 0 0 rg BT 64.39 88.65 Td (debt ) Tj ET Q q 0 0 0 rg BT 80.16 88.65 Td (expense ) Tj ET Q q 0 0 0 rg BT 107.93 88.65 Td (for ) Tj ET Q q 0 0 0 rg BT 119.25 88.65 Td (the ) Tj ET Q q 0 0 0 rg BT 131.03 88.65 Td (year ) Tj ET Q q 0 0 0 rg BT 146.79 88.65 Td (ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 167.89 88.65 Td (December31, ) Tj ET Q q 0 0 0 rg BT 214.76 88.65 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 230.76 88.65 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 234.76 88.65 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 250.76 88.65 Td ( ) Tj ET Q q 0 0 0 rg BT 252.76 88.65 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.31 88.65 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 282.31 88.65 Td ( ) Tj ET Q q 0 0 0 rg BT 284.31 88.65 Td (was ) Tj ET Q q 0 0 0 rg BT 298.75 88.65 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.98 88.65 Td (4.2 ) Tj ET Q q 0 0 0 rg BT 326.98 88.65 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 350.09 88.65 Td (, ) Tj ET Q q 0 0 0 rg BT 354.09 88.65 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.32 88.65 Td (3.7 ) Tj ET Q q 0 0 0 rg BT 382.32 88.65 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.43 88.65 Td (, ) Tj ET Q q 0 0 0 rg BT 409.43 88.65 Td (and ) Tj ET Q q 0 0 0 rg BT 422.98 88.65 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.21 88.65 Td (3.9 ) Tj ET Q q 0 0 0 rg BT 451.21 88.65 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.32 88.65 Td (, ) Tj ET Q q 0 0 0 rg BT 478.32 88.65 Td (respectively) Tj ET Q q 0 0 0 rg BT 516.45 88.65 Td (. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 73.05 Td (At ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.31 73.05 Td (December31, ) 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(costs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.50 491.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 491.75 Td (55,472) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.50 491.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 491.75 Td (9,272) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 476.75 Td (Deferred ) Tj ET Q q 0 0 0 rg BT 88.92 476.75 Td (tax) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.80 476.75 Td (456) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 476.75 Td (763) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 461.75 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.80 461.75 Td (2,188) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 461.75 Td (3,665) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 446.73 Td (Total other non-current assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 380.50 446.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.80 446.73 Td (58,116) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 474.50 446.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.80 446.73 Td (13,700) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 427.40 Td (Capitalized ) Tj ET Q q 0 0 0 rg BT 88.16 427.40 Td (debt ) Tj ET Q q 0 0 0 rg BT 104.17 427.40 Td (costs ) Tj ET Q q 0 0 0 rg BT 122.40 427.40 Td (are ) Tj ET Q q 0 0 0 rg BT 134.39 427.40 Td (being ) Tj ET Q q 0 0 0 rg BT 154.40 427.40 Td (amortized ) Tj ET Q q 0 0 0 rg BT 188.62 427.40 Td (over ) Tj ET Q q 0 0 0 rg BT 205.06 427.40 Td (the ) Tj ET Q q 0 0 0 rg BT 217.07 427.40 Td (term ) Tj ET Q q 0 0 0 rg BT 233.96 427.40 Td (of ) Tj ET Q q 0 0 0 rg BT 242.85 427.40 Td (the ) Tj ET Q q 0 0 0 rg BT 254.86 427.40 Td (related ) Tj ET Q q 0 0 0 rg BT 278.85 427.40 Td (debt ) Tj ET Q q 0 0 0 rg BT 294.86 427.40 Td (instruments ) Tj ET Q q 0 0 0 rg BT 334.42 427.40 Td (using ) Tj ET Q q 0 0 0 rg BT 353.99 427.40 Td (either ) Tj ET Q q 0 0 0 rg BT 374.43 427.40 Td (the ) Tj ET Q q 0 0 0 rg BT 386.43 427.40 Td (straight-line ) Tj ET Q q 0 0 0 rg BT 427.32 427.40 Td (method, ) Tj ET Q q 0 0 0 rg BT 455.55 427.40 Td (which ) Tj ET Q q 0 0 0 rg BT 477.33 427.40 Td (approximates ) Tj ET Q q 0 0 0 rg BT 522.66 427.40 Td (the ) Tj ET Q q 0 0 0 rg BT 534.67 427.40 Td (ef) Tj ET Q q 0 0 0 rg BT 540.74 427.40 Td (fective ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 417.80 Td (interest ) Tj ET Q q 0 0 0 rg BT 75.50 417.80 Td (method, ) Tj ET Q q 0 0 0 rg BT 103.95 417.80 Td (or ) Tj ET Q q 0 0 0 rg BT 113.06 417.80 Td (the ) Tj ET Q q 0 0 0 rg BT 125.29 417.80 Td (ef) Tj ET Q q 0 0 0 rg BT 131.36 417.80 Td (fective ) Tj ET Q q 0 0 0 rg BT 155.57 417.80 Td (interest ) Tj ET Q q 0 0 0 rg BT 181.57 417.80 Td (method. ) Tj ET Q q 0 0 0 rg BT 209.84 417.80 Td (The ) Tj ET Q q 0 0 0 rg BT 224.73 417.80 Td (increase ) Tj ET Q q 0 0 0 rg BT 253.38 417.80 Td (in ) Tj ET Q q 0 0 0 rg BT 262.05 417.80 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 299.15 417.80 Td (debt ) Tj ET Q q 0 0 0 rg BT 315.37 417.80 Td (costs ) Tj ET Q q 0 0 0 rg BT 333.82 417.80 Td (from ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.83 417.80 Td (December31, ) Tj ET Q q 0 0 0 rg BT 399.15 417.80 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.15 417.80 Td ( ) Tj ET Q q 0 0 0 rg BT 417.60 417.80 Td (is ) Tj ET Q q 0 0 0 rg BT 425.38 417.80 Td (primarily ) Tj ET Q q 0 0 0 rg BT 457.60 417.80 Td (due ) Tj ET Q q 0 0 0 rg BT 471.61 417.80 Td (to ) Tj ET Q q 0 0 0 rg BT 480.28 417.80 Td (the ) Tj ET Q q 0 0 0 rg BT 492.50 417.80 Td (issuance ) Tj ET Q q 0 0 0 rg BT 522.06 417.80 Td (of ) Tj ET Q q 0 0 0 rg BT 531.17 417.80 Td (the ) Tj ET Q q 0 0 0 rg BT 543.40 417.80 Td (Initial ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 408.20 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 408.20 Td (arrants, ) Tj ET Q q 0 0 0 rg BT 82.68 408.20 Td (a ) Tj ET Q q 0 0 0 rg BT 88.73 408.20 Td (portion ) Tj ET Q q 0 0 0 rg BT 114.34 408.20 Td (of ) Tj ET Q q 0 0 0 rg BT 123.50 408.20 Td (which ) Tj ET Q q 0 0 0 rg BT 145.56 408.20 Td (is ) Tj ET Q q 0 0 0 rg BT 153.39 408.20 Td (accounted ) Tj ET Q q 0 0 0 rg BT 188.32 408.20 Td (for ) Tj ET Q q 0 0 0 rg BT 200.15 408.20 Td (as ) Tj ET Q q 0 0 0 rg BT 209.31 408.20 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 246.46 408.20 Td (debt ) Tj ET Q q 0 0 0 rg BT 262.73 408.20 Td (costs ) Tj ET Q q 0 0 0 rg BT 281.23 408.20 Td (related ) Tj ET Q q 0 0 0 rg BT 305.50 408.20 Td (to ) Tj ET Q q 0 0 0 rg BT 314.22 408.20 Td (the ) Tj ET Q q 0 0 0 rg BT 326.50 408.20 Td (2017 ) Tj ET Q q 0 0 0 rg BT 345.00 408.20 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 380.83 408.20 Td (Credit ) Tj ET Q q 0 0 0 rg BT 403.33 408.20 Td (Facility ) Tj ET Q q 0 0 0 rg BT 430.27 408.20 Td (\(see ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 445.65 408.20 Td (Note ) Tj ET Q q 0 0 0 rg BT 463.70 408.20 Td (5, ) Tj ET Q q 0 0 0 rg BT 472.20 408.20 Td ("Long-term ) Tj ET Q q 0 0 0 rg BT 512.18 408.20 Td (Debt ) Tj ET Q q 0 0 0 rg BT 530.23 408.20 Td (and ) Tj ET Q q 0 0 0 rg BT 544.28 408.20 Td (Other ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 398.60 Td (Financing ) Tj ET Q q 0 0 0 rg BT 83.05 398.60 Td (Arrangements") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 131.64 398.60 Td (\). ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 377.00 Td (9. ) Tj ET Q q 0 0 0 rg BT 67.50 377.00 Td (PROPER) Tj ET Q q 0 0 0 rg BT 100.11 377.00 Td (TY) Tj ET Q q 0 0 0 rg BT 110.48 377.00 Td (, ) Tj ET Q q 0 0 0 rg BT 114.48 377.00 Td (PLANT) Tj ET Q q 0 0 0 rg BT 141.45 377.00 Td ( ) Tj ET Q q 0 0 0 rg BT 143.01 377.00 Td (AND ) Tj ET Q q 0 0 0 rg BT 162.34 377.00 Td (EQUIPMENT) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 361.40 Td (Property) Tj ET Q q 0 0 0 rg BT 76.53 361.40 Td (, ) Tj ET Q q 0 0 0 rg BT 80.53 361.40 Td (plant ) Tj ET Q q 0 0 0 rg BT 98.53 361.40 Td (and ) Tj ET Q q 0 0 0 rg BT 112.08 361.40 Td (equipment ) Tj ET Q q 0 0 0 rg BT 147.85 361.40 Td (comprised ) Tj ET Q q 0 0 0 rg BT 183.17 361.40 Td (the ) Tj ET Q q 0 0 0 rg BT 194.95 361.40 Td (following ) Tj ET Q q 0 0 0 rg BT 228.05 361.40 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.83 361.40 Td (December31, ) Tj ET Q q 0 0 0 rg BT 282.70 361.40 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.70 361.40 Td ( ) Tj ET Q q 0 0 0 rg BT 300.70 361.40 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.25 361.40 Td (December31, ) Tj ET Q q 0 0 0 rg BT 361.11 361.40 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 377.11 361.40 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 335.90 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 335.90 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 335.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 335.90 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 305.90 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 305.90 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 305.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 305.90 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 275.90 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 275.90 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 275.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 275.90 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 245.90 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 245.90 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 245.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 245.90 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 215.90 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 215.90 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 215.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 215.90 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 185.90 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 185.90 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 185.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 185.90 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 155.90 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 155.90 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 155.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 155.90 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 125.90 328.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 125.90 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 125.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 125.90 90.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 378 335.9 m 468 335.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472 335.9 m 562 335.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 260.9 m 468 260.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 260.9 m 562 260.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 230.89999999999998 m 468 230.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 216.89999999999998 m 468 216.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 214.89999999999998 m 468 214.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 230.89999999999998 m 562 230.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 216.89999999999998 m 562 216.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 214.89999999999998 m 562 214.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 155.89999999999998 m 468 155.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 155.89999999999998 m 562 155.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 125.89999999999998 m 468 125.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 111.89999999999998 m 468 111.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 109.89999999999998 m 468 109.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 125.89999999999998 m 562 125.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 111.89999999999998 m 562 111.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 109.89999999999998 m 562 109.89999999999998 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 340.15 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 400.00 340.13 Td (December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.00 340.13 Td (December 31, 2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 325.15 Td (Land and buildings) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.50 325.15 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.80 325.15 Td (103,248) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.50 325.15 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 325.15 Td (118,770) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 310.15 Td (Machinery, fixtures and equipment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.80 310.15 Td (172,929) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 310.15 Td (203,027) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 295.15 Td (Other equipment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 295.15 Td (36,516) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 295.15 Td (40,915) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 280.15 Td (Software licenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 280.15 Td (56,176) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 280.15 Td (59,228) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 265.15 Td (Construction in progress) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.80 265.15 Td (3,325) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 265.15 Td (9,947) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 250.13 Td (Total cost) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.80 250.13 Td (372,194) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.80 250.13 Td (431,887) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 235.15 Td (Less:Accumulated depreciation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.10 235.15 Td (\(257,859) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.80 235.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.10 235.15 Td (\(288,980) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 235.15 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 220.13 Td (Total net book value) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 380.50 220.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.80 220.13 Td (114,335) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 474.50 220.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.80 220.13 Td (142,907) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 190.13 Td (Assets held under capital leases \(included in the above\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.50 190.15 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.50 190.15 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 175.15 Td (Land and buildings) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.50 175.15 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.80 175.15 Td (4,243) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.50 175.15 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 175.15 Td (4,778) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 160.15 Td (Machinery, fixtures and equipment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.80 160.15 Td (3,325) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 160.15 Td (2,676) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 145.13 Td (Total cost) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.80 145.15 Td (7,568) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 145.15 Td (7,454) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 130.15 Td (Less:Accumulated depreciation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.10 130.15 Td (\(2,760) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.80 130.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.10 130.15 Td (\(2,257) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 130.15 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 115.13 Td (Net book value) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 380.50 115.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.80 115.13 Td (4,808) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 474.50 115.13 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.80 115.13 Td (5,197) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 95.80 Td (Depreciation ) Tj ET Q q 0 0 0 rg BT 92.81 95.80 Td (expense ) Tj ET Q q 0 0 0 rg BT 120.58 95.80 Td (for ) Tj ET Q q 0 0 0 rg BT 131.91 95.80 Td (the ) Tj ET Q q 0 0 0 rg BT 143.68 95.80 Td (years ) Tj ET Q q 0 0 0 rg BT 162.56 95.80 Td (ending ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 186.33 95.80 Td (December31, ) Tj ET Q q 0 0 0 rg BT 233.20 95.80 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 249.20 95.80 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.20 95.80 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 269.20 95.80 Td ( ) Tj ET Q q 0 0 0 rg BT 271.20 95.80 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 284.75 95.80 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 300.75 95.80 Td ( ) Tj ET Q q 0 0 0 rg BT 302.75 95.80 Td (was ) Tj ET Q q 0 0 0 rg BT 317.19 95.80 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.42 95.80 Td (32.8 ) Tj ET Q q 0 0 0 rg BT 349.42 95.80 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.53 95.80 Td (, ) Tj ET Q q 0 0 0 rg BT 376.53 95.80 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.76 95.80 Td (37.2 ) Tj ET Q q 0 0 0 rg BT 408.76 95.80 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.87 95.80 Td ( ) Tj ET Q q 0 0 0 rg BT 433.87 95.80 Td (and ) Tj ET Q q 0 0 0 rg BT 447.42 95.80 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.65 95.80 Td (41.5 ) Tj ET Q q 0 0 0 rg BT 479.65 95.80 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.76 95.80 Td (, ) Tj ET Q q 0 0 0 rg BT 506.76 95.80 Td (respectively) Tj ET Q q 0 0 0 rg BT 544.89 95.80 Td (.) 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rg BT 282.73 375.80 Td (Notes. ) Tj ET Q q 0 0 0 rg BT 305.43 375.80 Td (The ) Tj ET Q q 0 0 0 rg BT 320.07 375.80 Td (commitment ) Tj ET Q q 0 0 0 rg BT 362.70 375.80 Td (fee ) Tj ET Q q 0 0 0 rg BT 374.66 375.80 Td (is ) Tj ET Q q 0 0 0 rg BT 382.19 375.80 Td (payable ) Tj ET Q q 0 0 0 rg BT 409.27 375.80 Td (by ) Tj ET Q q 0 0 0 rg BT 419.46 375.80 Td (the ) Tj ET Q q 0 0 0 rg BT 431.43 375.80 Td (maturity ) Tj ET Q q 0 0 0 rg BT 460.73 375.80 Td (date ) Tj ET Q q 0 0 0 rg BT 476.25 375.80 Td (of ) Tj ET Q q 0 0 0 rg BT 485.11 375.80 Td (the ) Tj ET Q q 0 0 0 rg BT 497.08 375.80 Td (replacement ) Tj ET Q q 0 0 0 rg BT 538.37 375.80 Td (facility) Tj ET Q q 0 0 0 rg BT 560.50 375.80 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 366.20 Td (November ) Tj ET Q q 0 0 0 rg BT 102.61 366.20 Td (1, ) Tj ET Q q 0 0 0 rg BT 109.95 366.20 Td (2019, ) Tj ET Q q 0 0 0 rg BT 129.29 366.20 Td (or ) Tj ET Q q 0 0 0 rg BT 137.30 366.20 Td (earlier ) Tj ET Q q 0 0 0 rg BT 159.06 366.20 Td (if ) Tj ET Q q 0 0 0 rg BT 165.29 366.20 Td (the ) Tj ET Q q 0 0 0 rg BT 176.41 366.20 Td (repayment ) Tj ET Q q 0 0 0 rg BT 211.51 366.20 Td (of ) Tj ET Q q 0 0 0 rg BT 219.52 366.20 Td (the ) Tj ET Q q 0 0 0 rg BT 230.63 366.20 Td (replacement ) Tj ET Q q 0 0 0 rg BT 271.06 366.20 Td (facility ) Tj ET Q q 0 0 0 rg BT 295.06 366.20 Td (is ) Tj ET Q q 0 0 0 rg BT 301.74 366.20 Td (accelerated. ) Tj ET Q q 0 0 0 rg BT 340.95 366.20 Td (The ) Tj ET Q q 0 0 0 rg BT 354.73 366.20 Td (commitment ) Tj ET Q q 0 0 0 rg BT 396.50 366.20 Td (fee ) Tj ET Q q 0 0 0 rg BT 407.61 366.20 Td (will ) Tj ET Q q 0 0 0 rg BT 421.40 366.20 Td (bear ) Tj ET Q q 0 0 0 rg BT 436.51 366.20 Td (interest ) Tj ET Q q 0 0 0 rg BT 461.40 366.20 Td (at ) Tj ET Q q 0 0 0 rg BT 468.51 366.20 Td (8.5% ) Tj ET Q q 0 0 0 rg BT 486.52 366.20 Td (per ) Tj ET Q q 0 0 0 rg BT 498.07 366.20 Td (annum ) Tj ET Q q 0 0 0 rg BT 521.19 366.20 Td (commencing ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 356.60 Td (on ) Tj ET Q q 0 0 0 rg BT 77.17 356.60 Td (the ) Tj ET Q q 0 0 0 rg BT 88.60 356.60 Td (ef) Tj ET Q q 0 0 0 rg BT 94.67 356.60 Td (fective ) Tj ET Q q 0 0 0 rg BT 118.10 356.60 Td (date ) Tj ET Q q 0 0 0 rg BT 133.09 356.60 Td (of ) Tj ET Q q 0 0 0 rg BT 141.42 356.60 Td (the ) Tj ET Q q 0 0 0 rg BT 152.86 356.60 Td (replacement ) Tj ET Q q 0 0 0 rg BT 193.61 356.60 Td (facility) Tj ET Q q 0 0 0 rg BT 215.75 356.60 Td (. ) Tj ET Q q 0 0 0 rg BT 219.41 356.60 Td (Interest ) Tj ET Q q 0 0 0 rg BT 245.06 356.60 Td (on ) Tj ET Q q 0 0 0 rg BT 254.73 356.60 Td (the ) Tj ET Q q 0 0 0 rg BT 266.17 356.60 Td (commitment ) Tj ET Q q 0 0 0 rg BT 308.27 356.60 Td (fee ) Tj ET Q q 0 0 0 rg BT 319.70 356.60 Td (is ) Tj ET Q q 0 0 0 rg BT 326.70 356.60 Td (payable ) Tj ET Q q 0 0 0 rg BT 353.24 356.60 Td (in ) Tj ET Q q 0 0 0 rg BT 361.13 356.60 Td (arrears ) Tj ET Q q 0 0 0 rg BT 384.55 356.60 Td (on ) Tj ET Q q 0 0 0 rg BT 394.22 356.60 Td (each ) Tj ET Q q 0 0 0 rg BT 410.53 356.60 Td (May ) Tj ET Q q 0 0 0 rg BT 426.86 356.60 Td (1 ) Tj ET Q q 0 0 0 rg BT 432.53 356.60 Td (and ) Tj ET Q q 0 0 0 rg BT 445.74 356.60 Td (November ) Tj ET Q q 0 0 0 rg BT 481.17 356.60 Td (1, ) Tj ET Q q 0 0 0 rg BT 488.84 356.60 Td (beginning ) Tj ET Q q 0 0 0 rg BT 522.50 356.60 Td (May ) Tj ET Q q 0 0 0 rg BT 538.83 356.60 Td (1, ) Tj ET Q q 0 0 0 rg BT 546.50 356.60 Td (2016 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 347.00 Td (and ) Tj ET Q q 0 0 0 rg BT 81.05 347.00 Td (may ) Tj ET Q q 0 0 0 rg BT 96.82 347.00 Td (be ) Tj ET Q q 0 0 0 rg BT 106.38 347.00 Td (paid ) Tj ET Q q 0 0 0 rg BT 122.15 347.00 Td (in ) Tj ET Q q 0 0 0 rg BT 130.37 347.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 146.59 347.00 Td (or ) Tj ET Q q 0 0 0 rg BT 155.25 347.00 Td (in ) Tj ET Q q 0 0 0 rg BT 163.47 347.00 Td (kind, ) Tj ET Q q 0 0 0 rg BT 181.70 347.00 Td (at ) Tj ET Q q 0 0 0 rg BT 189.47 347.00 Td (our ) Tj ET Q q 0 0 0 rg BT 202.13 347.00 Td (election.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 334.40 Td (\(2\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 334.40 Td (Represents ) Tj ET Q q 0 0 0 rg BT 104.23 334.40 Td (the ) Tj ET Q q 0 0 0 rg BT 115.62 334.40 Td (fee ) Tj ET Q q 0 0 0 rg BT 127.01 334.40 Td (payable ) Tj ET Q q 0 0 0 rg BT 153.51 334.40 Td (to ) Tj ET Q q 0 0 0 rg BT 161.24 334.40 Td (T) Tj ET Q q 0 0 0 rg BT 165.85 334.40 Td (ime ) Tj ET Q q 0 0 0 rg BT 179.35 334.40 Td (W) Tj ET Q q 0 0 0 rg BT 186.26 334.40 Td (arner ) Tj ET Q q 0 0 0 rg BT 204.31 334.40 Td (for ) Tj ET Q q 0 0 0 rg BT 215.15 334.40 Td (T) Tj ET Q q 0 0 0 rg BT 219.75 334.40 Td (ime ) Tj ET Q q 0 0 0 rg BT 233.26 334.40 Td (W) Tj ET Q q 0 0 0 rg BT 240.17 334.40 Td (arner's ) Tj ET Q q 0 0 0 rg BT 262.78 334.40 Td (guarantee ) Tj ET Q q 0 0 0 rg BT 295.49 334.40 Td (of ) Tj ET Q q 0 0 0 rg BT 303.78 334.40 Td (the ) Tj ET Q q 0 0 0 rg BT 315.17 334.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 332.80 334.40 Td (Euro ) Tj ET Q q 0 0 0 rg BT 349.86 334.40 Td (T) Tj ET Q q 0 0 0 rg BT 354.18 334.40 Td (erm ) Tj ET Q q 0 0 0 rg BT 368.25 334.40 Td (Loan. ) Tj ET Q q 0 0 0 rg BT 388.19 334.40 Td (The ) Tj ET Q q 0 0 0 rg BT 402.25 334.40 Td (guarantee ) Tj ET Q q 0 0 0 rg BT 434.97 334.40 Td (fee ) Tj ET Q q 0 0 0 rg BT 446.36 334.40 Td (is ) Tj ET Q q 0 0 0 rg BT 453.32 334.40 Td (calculated ) Tj ET Q q 0 0 0 rg BT 487.36 334.40 Td (as ) Tj ET Q q 0 0 0 rg BT 495.65 334.40 Td (8.5% ) Tj ET Q q 0 0 0 rg BT 513.94 334.40 Td (less ) Tj ET Q q 0 0 0 rg BT 527.56 334.40 Td (the ) Tj ET Q q 0 0 0 rg BT 538.96 334.40 Td (interest ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 324.80 Td (rate ) Tj ET Q q 0 0 0 rg BT 81.29 324.80 Td (payable ) Tj ET Q q 0 0 0 rg BT 107.97 324.80 Td (under ) Tj ET Q q 0 0 0 rg BT 127.99 324.80 Td (the ) Tj ET Q q 0 0 0 rg BT 139.57 324.80 Td (2017 ) Tj ET Q q 0 0 0 rg BT 157.37 324.80 Td (Euro ) Tj ET Q q 0 0 0 rg BT 174.59 324.80 Td (T) Tj ET Q q 0 0 0 rg BT 178.92 324.80 Td (erm ) Tj ET Q q 0 0 0 rg BT 193.16 324.80 Td (Loan ) Tj ET Q q 0 0 0 rg BT 211.40 324.80 Td (\(including ) Tj ET Q q 0 0 0 rg BT 246.09 324.80 Td (the ) Tj ET Q q 0 0 0 rg BT 257.67 324.80 Td (ef) Tj ET Q q 0 0 0 rg BT 263.74 324.80 Td (fects ) Tj ET Q q 0 0 0 rg BT 280.64 324.80 Td (of ) Tj ET Q q 0 0 0 rg BT 289.11 324.80 Td (the ) Tj ET Q q 0 0 0 rg BT 300.69 324.80 Td (interest ) Tj ET Q q 0 0 0 rg BT 326.04 324.80 Td (rate ) Tj ET Q q 0 0 0 rg BT 339.83 324.80 Td (hedges ) Tj ET Q q 0 0 0 rg BT 363.85 324.80 Td (entered ) Tj ET Q q 0 0 0 rg BT 389.19 324.80 Td (into\) ) Tj ET Q q 0 0 0 rg BT 406.11 324.80 Td (per ) Tj ET Q q 0 0 0 rg BT 418.12 324.80 Td (annum ) Tj ET Q q 0 0 0 rg BT 441.70 324.80 Td (\(the ) Tj ET Q q 0 0 0 rg BT 455.94 324.80 Td ("Guarantee ) Tj ET Q q 0 0 0 rg BT 493.88 324.80 Td (Fee ) Tj ET Q q 0 0 0 rg BT 507.23 324.80 Td (Rate"\) ) Tj ET Q q 0 0 0 rg BT 529.63 324.80 Td (multiplied ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 315.20 Td (by ) Tj ET Q q 0 0 0 rg BT 77.41 315.20 Td (the ) Tj ET Q q 0 0 0 rg BT 89.08 315.20 Td (average ) Tj ET Q q 0 0 0 rg BT 115.86 315.20 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 155.09 315.20 Td (principal ) Tj ET Q q 0 0 0 rg BT 185.43 315.20 Td (of ) Tj ET Q q 0 0 0 rg BT 194.00 315.20 Td (the ) Tj ET Q q 0 0 0 rg BT 205.68 315.20 Td (2017 ) Tj ET Q q 0 0 0 rg BT 223.59 315.20 Td (Euro ) Tj ET Q q 0 0 0 rg BT 240.90 315.20 Td (T) Tj ET Q q 0 0 0 rg BT 245.23 315.20 Td (erm ) Tj ET Q q 0 0 0 rg BT 259.58 315.20 Td (Loan. ) Tj ET Q q 0 0 0 rg BT 279.78 315.20 Td (The ) Tj ET Q q 0 0 0 rg BT 294.12 315.20 Td (guarantee ) Tj ET Q q 0 0 0 rg BT 327.12 315.20 Td (fee ) Tj ET Q q 0 0 0 rg BT 338.79 315.20 Td (is ) Tj ET Q q 0 0 0 rg BT 346.03 315.20 Td (payable, ) Tj ET Q q 0 0 0 rg BT 374.81 315.20 Td (in ) Tj ET Q q 0 0 0 rg BT 382.94 315.20 Td (cash ) Tj ET Q q 0 0 0 rg BT 399.06 315.20 Td (or ) Tj ET Q q 0 0 0 rg BT 407.63 315.20 Td (in ) Tj ET Q q 0 0 0 rg BT 415.76 315.20 Td (kind ) Tj ET Q q 0 0 0 rg BT 431.88 315.20 Td (on ) Tj ET Q q 0 0 0 rg BT 441.79 315.20 Td (a ) Tj ET Q q 0 0 0 rg BT 447.25 315.20 Td (semi-annual ) Tj ET Q q 0 0 0 rg BT 488.25 315.20 Td (basis ) Tj ET Q q 0 0 0 rg BT 506.15 315.20 Td (in ) Tj ET Q q 0 0 0 rg BT 514.28 315.20 Td (arrears ) Tj ET Q q 0 0 0 rg BT 537.94 315.20 Td (on ) Tj ET Q q 0 0 0 rg BT 547.85 315.20 Td (each ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 305.60 Td (May ) Tj ET Q q 0 0 0 rg BT 84.12 305.60 Td (1 ) Tj ET Q q 0 0 0 rg BT 90.07 305.60 Td (and ) Tj ET Q q 0 0 0 rg BT 103.57 305.60 Td (November ) Tj ET Q q 0 0 0 rg BT 139.29 305.60 Td (1. ) Tj ET Q q 0 0 0 rg BT 147.24 305.60 Td (If ) Tj ET Q q 0 0 0 rg BT 154.52 305.60 Td (the ) Tj ET Q q 0 0 0 rg BT 166.24 305.60 Td (guarantee ) Tj ET Q q 0 0 0 rg BT 199.28 305.60 Td (fee ) Tj ET Q q 0 0 0 rg BT 211.00 305.60 Td (is ) Tj ET Q q 0 0 0 rg BT 218.29 305.60 Td (paid ) Tj ET Q q 0 0 0 rg BT 234.01 305.60 Td (in ) Tj ET Q q 0 0 0 rg BT 242.18 305.60 Td (kind, ) Tj ET Q q 0 0 0 rg BT 260.36 305.60 Td (the ) Tj ET Q q 0 0 0 rg BT 272.08 305.60 Td (accrued ) Tj ET Q q 0 0 0 rg BT 298.90 305.60 Td (balance ) Tj ET Q q 0 0 0 rg BT 325.28 305.60 Td (will ) Tj ET Q q 0 0 0 rg BT 339.67 305.60 Td (bear ) Tj ET Q q 0 0 0 rg BT 355.39 305.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 380.89 305.60 Td (at ) Tj ET Q q 0 0 0 rg BT 388.61 305.60 Td (the ) Tj ET Q q 0 0 0 rg BT 400.34 305.60 Td (Guarantee ) Tj ET Q q 0 0 0 rg BT 435.16 305.60 Td (Fee ) Tj ET Q q 0 0 0 rg BT 448.66 305.60 Td (Rate ) Tj ET Q q 0 0 0 rg BT 465.27 305.60 Td (and ) Tj ET Q q 0 0 0 rg BT 478.77 305.60 Td (will ) Tj ET Q q 0 0 0 rg BT 493.17 305.60 Td (be ) Tj ET Q q 0 0 0 rg BT 502.67 305.60 Td (payable, ) Tj ET Q q 0 0 0 rg BT 531.50 305.60 Td (in ) Tj ET Q q 0 0 0 rg BT 539.67 305.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 555.84 305.60 Td (or ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 296.00 Td (in ) Tj ET Q q 0 0 0 rg BT 75.72 296.00 Td (kind, ) Tj ET Q q 0 0 0 rg BT 93.95 296.00 Td (in ) Tj ET Q q 0 0 0 rg BT 102.17 296.00 Td (arrears ) Tj ET Q q 0 0 0 rg BT 125.93 296.00 Td (on ) Tj ET Q q 0 0 0 rg BT 135.93 296.00 Td (each ) Tj ET Q q 0 0 0 rg BT 152.58 296.00 Td (May ) Tj ET Q q 0 0 0 rg BT 169.24 296.00 Td (1 ) Tj ET Q q 0 0 0 rg BT 175.24 296.00 Td (and ) Tj ET Q q 0 0 0 rg BT 188.79 296.00 Td (November ) Tj ET Q q 0 0 0 rg BT 224.56 296.00 Td (1.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 283.40 Td (\(3\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 283.40 Td (Represents ) Tj ET Q q 0 0 0 rg BT 104.79 283.40 Td (interest ) Tj ET Q q 0 0 0 rg BT 130.53 283.40 Td (on ) Tj ET Q q 0 0 0 rg BT 140.72 283.40 Td (the ) Tj ET Q q 0 0 0 rg BT 152.68 283.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 170.87 283.40 Td (PIK ) Tj ET Q q 0 0 0 rg BT 185.95 283.40 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 208.80 283.40 Td (which ) Tj ET Q q 0 0 0 rg BT 230.54 283.40 Td (the ) Tj ET Q q 0 0 0 rg BT 242.51 283.40 Td (Company ) Tj ET Q q 0 0 0 rg BT 275.80 283.40 Td (must ) Tj ET Q q 0 0 0 rg BT 293.55 283.40 Td (pay ) Tj ET Q q 0 0 0 rg BT 307.29 283.40 Td (in ) Tj ET Q q 0 0 0 rg BT 315.71 283.40 Td (kind ) Tj ET Q q 0 0 0 rg BT 332.12 283.40 Td (on ) Tj ET Q q 0 0 0 rg BT 342.31 283.40 Td (a ) Tj ET Q q 0 0 0 rg BT 348.05 283.40 Td (semi-annual ) Tj ET Q q 0 0 0 rg BT 389.33 283.40 Td (basis ) Tj ET Q q 0 0 0 rg BT 407.52 283.40 Td (in ) Tj ET Q q 0 0 0 rg BT 415.94 283.40 Td (arrears ) Tj ET Q q 0 0 0 rg BT 439.88 283.40 Td (on ) Tj ET Q q 0 0 0 rg BT 450.07 283.40 Td (each ) Tj ET Q q 0 0 0 rg BT 466.91 283.40 Td (June ) Tj ET Q q 0 0 0 rg BT 483.77 283.40 Td (1 ) Tj ET Q q 0 0 0 rg BT 489.96 283.40 Td (and ) Tj ET Q q 0 0 0 rg BT 503.70 283.40 Td (December ) Tj ET Q q 0 0 0 rg BT 538.75 283.40 Td (1, ) Tj ET Q q 0 0 0 rg BT 546.94 283.40 Td (from ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 273.80 Td (December1,2014 ) Tj ET Q q 0 0 0 rg BT 128.37 273.80 Td (until ) Tj ET Q q 0 0 0 rg BT 145.04 273.80 Td (November ) Tj ET Q q 0 0 0 rg BT 180.80 273.80 Td (15, ) Tj ET Q q 0 0 0 rg BT 192.80 273.80 Td (2015 ) Tj ET Q q 0 0 0 rg BT 210.80 273.80 Td (by ) Tj ET Q q 0 0 0 rg BT 220.80 273.80 Td (adding ) Tj ET Q q 0 0 0 rg BT 244.57 273.80 Td (such ) Tj ET Q q 0 0 0 rg BT 261.24 273.80 Td (accrued ) Tj ET Q q 0 0 0 rg BT 288.11 273.80 Td (interest ) Tj ET Q q 0 0 0 rg BT 313.65 273.80 Td (to ) Tj ET Q q 0 0 0 rg BT 321.88 273.80 Td (the ) Tj ET Q q 0 0 0 rg BT 333.65 273.80 Td (principal ) Tj ET Q q 0 0 0 rg BT 364.08 273.80 Td (amount ) Tj ET Q q 0 0 0 rg BT 390.08 273.80 Td (of ) Tj ET Q q 0 0 0 rg BT 398.74 273.80 Td (the ) Tj ET Q q 0 0 0 rg BT 410.52 273.80 Td (2017 ) Tj ET Q q 0 0 0 rg BT 428.52 273.80 Td (PIK ) Tj ET Q q 0 0 0 rg BT 443.41 273.80 Td (Notes.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 252.20 Td (12. ) Tj ET Q q 0 0 0 rg BT 67.50 252.20 Td (CONVER) Tj ET Q q 0 0 0 rg BT 101.89 252.20 Td (TIBLE ) Tj ET Q q 0 0 0 rg BT 128.34 252.20 Td (REDEEMABLE ) Tj ET Q q 0 0 0 rg BT 187.24 252.20 Td (PREFERRED ) Tj ET Q q 0 0 0 rg BT 238.13 252.20 Td (SHARES) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 236.60 Td (200,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 75.50 236.60 Td ( ) Tj ET Q q 0 0 0 rg BT 76.84 236.60 Td (shares ) Tj ET Q q 0 0 0 rg BT 98.16 236.60 Td (of ) Tj ET Q q 0 0 0 rg BT 106.16 236.60 Td (our ) Tj ET Q q 0 0 0 rg BT 118.16 236.60 Td (Series ) Tj ET Q q 0 0 0 rg BT 139.05 236.60 Td (B ) Tj ET Q q 0 0 0 rg BT 145.72 236.60 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 184.83 236.60 Td (Redeemable ) Tj ET Q q 0 0 0 rg BT 225.70 236.60 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 256.79 236.60 Td (Stock, ) Tj ET Q q 0 0 0 rg BT 278.35 236.60 Td (par ) Tj ET Q q 0 0 0 rg BT 289.90 236.60 Td (value ) Tj ET Q q 0 0 0 rg BT 308.56 236.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 324.13 236.60 Td (0.08) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.13 236.60 Td ( ) Tj ET Q q 0 0 0 rg BT 339.46 236.60 Td (per ) Tj ET Q q 0 0 0 rg BT 351.01 236.60 Td (share ) Tj ET Q q 0 0 0 rg BT 369.23 236.60 Td (\(the ) Tj ET Q q 0 0 0 rg BT 383.00 236.60 Td (Series ) Tj ET Q q 0 0 0 rg BT 407.44 236.60 Td (B ) Tj ET Q q 0 0 0 rg BT 414.11 236.60 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 445.20 236.60 Td (Shares\) ) Tj ET Q q 0 0 0 rg BT 474.08 236.60 Td (were ) Tj ET Q q 0 0 0 rg BT 490.96 236.60 Td (issued ) Tj ET Q q 0 0 0 rg BT 512.30 236.60 Td (and ) Tj ET Q q 0 0 0 rg BT 525.18 236.60 Td (outstanding ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 227.00 Td (as ) Tj ET Q q 0 0 0 rg BT 58.04 227.00 Td (at ) Tj ET Q q 0 0 0 rg BT 65.68 227.00 Td (December ) Tj ET Q q 0 0 0 rg BT 100.42 227.00 Td (31, ) Tj ET Q q 0 0 0 rg BT 112.29 227.00 Td (2014 ) Tj ET Q q 0 0 0 rg BT 130.17 227.00 Td (and ) Tj ET Q q 0 0 0 rg BT 143.59 227.00 Td (2013. ) Tj ET Q q 0 0 0 rg BT 163.05 227.00 Td (As ) Tj ET Q q 0 0 0 rg BT 173.81 227.00 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.46 227.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 228.19 227.00 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 244.19 227.00 Td ( ) Tj ET Q q 0 0 0 rg BT 246.07 227.00 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 259.49 227.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 306.23 227.00 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.23 227.00 Td (, ) Tj ET Q q 0 0 0 rg BT 326.10 227.00 Td (the ) Tj ET Q q 0 0 0 rg BT 337.75 227.00 Td (carrying ) Tj ET Q q 0 0 0 rg BT 366.27 227.00 Td (value ) Tj ET Q q 0 0 0 rg BT 385.47 227.00 Td (of ) Tj ET Q q 0 0 0 rg BT 394.00 227.00 Td (the ) Tj ET Q q 0 0 0 rg BT 405.65 227.00 Td (Series ) Tj ET Q q 0 0 0 rg BT 427.07 227.00 Td (B ) Tj ET Q q 0 0 0 rg BT 434.28 227.00 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 465.91 227.00 Td (Shares ) Tj ET Q q 0 0 0 rg BT 489.11 227.00 Td (was ) Tj ET Q q 0 0 0 rg BT 503.42 227.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.52 227.00 Td (223.9 ) Tj ET Q q 0 0 0 rg BT 539.39 227.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 562.51 227.00 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 217.40 Td (and ) Tj ET Q q 0 0 0 rg BT 63.05 217.40 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 79.28 217.40 Td (207.9 ) Tj ET Q q 0 0 0 rg BT 99.28 217.40 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 122.39 217.40 Td (, ) Tj ET Q q 0 0 0 rg BT 126.39 217.40 Td (respectively) Tj ET Q q 0 0 0 rg BT 164.52 217.40 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 201.80 Td (The ) Tj ET Q q 0 0 0 rg BT 63.83 201.80 Td (initial ) Tj ET Q q 0 0 0 rg BT 84.38 201.80 Td (stated ) Tj ET Q q 0 0 0 rg BT 104.93 201.80 Td (value ) Tj ET Q q 0 0 0 rg BT 124.15 201.80 Td (of ) Tj ET Q q 0 0 0 rg BT 132.70 201.80 Td (the ) Tj ET Q q 0 0 0 rg BT 144.37 201.80 Td (Series ) Tj ET Q q 0 0 0 rg BT 165.81 201.80 Td (B ) Tj ET Q q 0 0 0 rg BT 173.04 201.80 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 204.68 201.80 Td (Shares ) Tj ET Q q 0 0 0 rg BT 227.90 201.80 Td (of ) Tj ET Q q 0 0 0 rg BT 236.46 201.80 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 252.57 201.80 Td (1,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 270.57 201.80 Td ( ) Tj ET Q q 0 0 0 rg BT 272.46 201.80 Td (per ) Tj ET Q q 0 0 0 rg BT 284.57 201.80 Td (share ) Tj ET Q q 0 0 0 rg BT 303.34 201.80 Td (accretes ) Tj ET Q q 0 0 0 rg BT 330.98 201.80 Td (at ) Tj ET Q q 0 0 0 rg BT 338.65 201.80 Td (an ) Tj ET Q q 0 0 0 rg BT 348.09 201.80 Td (annual ) Tj ET Q q 0 0 0 rg BT 371.30 201.80 Td (rate ) Tj ET Q q 0 0 0 rg BT 385.18 201.80 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 393.74 201.80 Td (7.5%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.40 201.80 Td (, ) Tj ET Q q 0 0 0 rg BT 414.29 201.80 Td (compounded ) Tj ET Q q 0 0 0 rg BT 457.51 201.80 Td (quarterly) Tj ET Q q 0 0 0 rg BT 485.86 201.80 Td (, ) Tj ET Q q 0 0 0 rg BT 489.75 201.80 Td (from ) Tj ET Q q 0 0 0 rg BT 507.20 201.80 Td (and ) Tj ET Q q 0 0 0 rg BT 520.64 201.80 Td (including ) Tj ET Q q 0 0 0 rg BT 552.75 201.80 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 192.20 Td (date ) Tj ET Q q 0 0 0 rg BT 64.63 192.20 Td (of ) Tj ET Q q 0 0 0 rg BT 73.10 192.20 Td (issuance ) Tj ET Q q 0 0 0 rg BT 102.01 192.20 Td (to ) Tj ET Q q 0 0 0 rg BT 110.04 192.20 Td (but ) Tj ET Q q 0 0 0 rg BT 122.07 192.20 Td (excluding ) Tj ET Q q 0 0 0 rg BT 155.43 192.20 Td (the ) Tj ET Q q 0 0 0 rg BT 167.01 192.20 Td (third ) Tj ET Q q 0 0 0 rg BT 183.93 192.20 Td (anniversary ) Tj ET Q q 0 0 0 rg BT 223.05 192.20 Td (of ) Tj ET Q q 0 0 0 rg BT 231.52 192.20 Td (the ) Tj ET Q q 0 0 0 rg BT 243.10 192.20 Td (date ) Tj ET Q q 0 0 0 rg BT 258.23 192.20 Td (of ) Tj ET Q q 0 0 0 rg BT 266.71 192.20 Td (issuance, ) Tj ET Q q 0 0 0 rg BT 297.62 192.20 Td (and ) Tj ET Q q 0 0 0 rg BT 310.97 192.20 Td (at ) Tj ET Q q 0 0 0 rg BT 318.55 192.20 Td (an ) Tj ET Q q 0 0 0 rg BT 327.91 192.20 Td (annual ) Tj ET Q q 0 0 0 rg BT 351.04 192.20 Td (rate ) Tj ET Q q 0 0 0 rg BT 364.84 192.20 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.31 192.20 Td (3.75%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 393.98 192.20 Td (, ) Tj ET Q q 0 0 0 rg BT 397.78 192.20 Td (compounded ) Tj ET Q q 0 0 0 rg BT 440.92 192.20 Td (quarterly) Tj ET Q q 0 0 0 rg BT 469.27 192.20 Td (, ) Tj ET Q q 0 0 0 rg BT 473.08 192.20 Td (from ) Tj ET Q q 0 0 0 rg BT 490.44 192.20 Td (and ) Tj ET Q q 0 0 0 rg BT 503.80 192.20 Td (including ) Tj ET Q q 0 0 0 rg BT 535.82 192.20 Td (the ) Tj ET Q q 0 0 0 rg BT 547.40 192.20 Td (third ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 182.60 Td (anniversary ) Tj ET Q q 0 0 0 rg BT 88.91 182.60 Td (of ) Tj ET Q q 0 0 0 rg BT 97.68 182.60 Td (the ) Tj ET Q q 0 0 0 rg BT 109.55 182.60 Td (date ) Tj ET Q q 0 0 0 rg BT 124.97 182.60 Td (of ) Tj ET Q q 0 0 0 rg BT 133.73 182.60 Td (issuance ) Tj ET Q q 0 0 0 rg BT 162.93 182.60 Td (to ) Tj ET Q q 0 0 0 rg BT 171.25 182.60 Td (but ) Tj ET Q q 0 0 0 rg BT 183.57 182.60 Td (excluding ) Tj ET Q q 0 0 0 rg BT 217.21 182.60 Td (the ) Tj ET Q q 0 0 0 rg BT 229.09 182.60 Td (fifth ) Tj ET Q q 0 0 0 rg BT 244.96 182.60 Td (anniversary ) Tj ET Q q 0 0 0 rg BT 284.37 182.60 Td (of ) Tj ET Q q 0 0 0 rg BT 293.13 182.60 Td (the ) Tj ET Q q 0 0 0 rg BT 305.00 182.60 Td (date ) Tj ET Q q 0 0 0 rg BT 320.43 182.60 Td (of ) Tj ET Q q 0 0 0 rg BT 329.19 182.60 Td (issuance.) Tj ET Q q 0 0 0 rg BT 360.14 182.60 Td (W) Tj ET Q q 0 0 0 rg BT 367.05 182.60 Td (e ) Tj ET Q q 0 0 0 rg BT 372.70 182.60 Td (have ) Tj ET Q q 0 0 0 rg BT 389.90 182.60 Td (the ) Tj ET Q q 0 0 0 rg BT 401.77 182.60 Td (right ) Tj ET Q q 0 0 0 rg BT 418.98 182.60 Td (from ) Tj ET Q q 0 0 0 rg BT 436.63 182.60 Td (June ) Tj ET Q q 0 0 0 rg BT 453.39 182.60 Td (25, ) Tj ET Q q 0 0 0 rg BT 465.49 182.60 Td (2016 ) Tj ET Q q 0 0 0 rg BT 483.59 182.60 Td (to ) Tj ET Q q 0 0 0 rg BT 491.91 182.60 Td (pay ) Tj ET Q q 0 0 0 rg BT 505.55 182.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 521.87 182.60 Td (to ) Tj ET Q q 0 0 0 rg BT 530.19 182.60 Td (the ) Tj ET Q q 0 0 0 rg BT 542.06 182.60 Td (holder ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 173.00 Td (in ) Tj ET Q q 0 0 0 rg BT 57.77 173.00 Td (lieu ) Tj ET Q q 0 0 0 rg BT 71.82 173.00 Td (of ) Tj ET Q q 0 0 0 rg BT 80.54 173.00 Td (any ) Tj ET Q q 0 0 0 rg BT 94.14 173.00 Td (further ) Tj ET Q q 0 0 0 rg BT 117.96 173.00 Td (accretion. ) Tj ET Q q 0 0 0 rg BT 151.32 173.00 Td (From ) Tj ET Q q 0 0 0 rg BT 170.71 173.00 Td (June ) Tj ET Q q 0 0 0 rg BT 187.43 173.00 Td (25, ) Tj ET Q q 0 0 0 rg BT 199.48 173.00 Td (2016, ) Tj ET Q q 0 0 0 rg BT 219.53 173.00 Td (on ) Tj ET Q q 0 0 0 rg BT 229.58 173.00 Td (the ) Tj ET Q q 0 0 0 rg BT 241.41 173.00 Td (date ) Tj ET Q q 0 0 0 rg BT 256.78 173.00 Td (that ) Tj ET Q q 0 0 0 rg BT 270.83 173.00 Td (is ) Tj ET Q q 0 0 0 rg BT 278.22 173.00 Td (61 ) Tj ET Q q 0 0 0 rg BT 288.27 173.00 Td (days ) Tj ET Q q 0 0 0 rg BT 304.99 173.00 Td (after ) Tj ET Q q 0 0 0 rg BT 321.69 173.00 Td (the ) Tj ET Q q 0 0 0 rg BT 333.51 173.00 Td (earlier ) Tj ET Q q 0 0 0 rg BT 355.99 173.00 Td (of ) Tj ET Q q 0 0 0 rg BT 364.71 173.00 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 375.64 173.00 Td (the ) Tj ET Q q 0 0 0 rg BT 387.46 173.00 Td (date ) Tj ET Q q 0 0 0 rg BT 402.84 173.00 Td (on ) Tj ET Q q 0 0 0 rg BT 412.89 173.00 Td (which ) Tj ET Q q 0 0 0 rg BT 434.49 173.00 Td (the ) Tj ET Q q 0 0 0 rg BT 446.32 173.00 Td (ownership ) Tj ET Q q 0 0 0 rg BT 481.70 173.00 Td (of ) Tj ET Q q 0 0 0 rg BT 490.42 173.00 Td (our ) Tj ET Q q 0 0 0 rg BT 503.13 173.00 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 542.51 173.00 Td (shares ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 163.40 Td (of ) Tj ET Q q 0 0 0 rg BT 57.59 163.40 Td (Class ) Tj ET Q q 0 0 0 rg BT 76.04 163.40 Td (A) Tj ET Q q 0 0 0 rg BT 81.38 163.40 Td ( ) Tj ET Q q 0 0 0 rg BT 82.80 163.40 Td (Common ) Tj ET Q q 0 0 0 rg BT 114.01 163.40 Td (Stock ) Tj ET Q q 0 0 0 rg BT 133.66 163.40 Td (by ) Tj ET Q q 0 0 0 rg BT 143.09 163.40 Td (a ) Tj ET Q q 0 0 0 rg BT 148.07 163.40 Td (group ) Tj ET Q q 0 0 0 rg BT 168.16 163.40 Td (would ) Tj ET Q q 0 0 0 rg BT 189.59 163.40 Td (not ) Tj ET Q q 0 0 0 rg BT 201.24 163.40 Td (be ) Tj ET Q q 0 0 0 rg BT 210.22 163.40 Td (greater ) Tj ET Q q 0 0 0 rg BT 233.85 163.40 Td (than ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 249.05 163.40 Td (49.9%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 269.71 163.40 Td ( ) Tj ET Q q 0 0 0 rg BT 271.14 163.40 Td (of ) Tj ET Q q 0 0 0 rg BT 279.23 163.40 Td (the ) Tj ET Q q 0 0 0 rg BT 290.44 163.40 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 329.19 163.40 Td (shares ) Tj ET Q q 0 0 0 rg BT 350.61 163.40 Td (of ) Tj ET Q q 0 0 0 rg BT 358.71 163.40 Td (Class ) Tj ET Q q 0 0 0 rg BT 377.16 163.40 Td (A) Tj ET Q q 0 0 0 rg BT 382.49 163.40 Td ( ) Tj ET Q q 0 0 0 rg BT 383.92 163.40 Td (Common ) Tj ET Q q 0 0 0 rg BT 415.13 163.40 Td (Stock ) Tj ET Q q 0 0 0 rg BT 434.78 163.40 Td (and ) Tj ET Q q 0 0 0 rg BT 447.76 163.40 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 458.51 163.40 Td (the ) Tj ET Q q 0 0 0 rg BT 469.71 163.40 Td (date ) Tj ET Q q 0 0 0 rg BT 484.47 163.40 Td (on ) Tj ET Q q 0 0 0 rg BT 493.89 163.40 Td (which ) Tj ET Q q 0 0 0 rg BT 514.87 163.40 Td (such ) Tj ET Q q 0 0 0 rg BT 530.96 163.40 Td (beneficial ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 153.80 Td (ownership ) Tj ET Q q 0 0 0 rg BT 83.98 153.80 Td (would ) Tj ET Q q 0 0 0 rg BT 105.13 153.80 Td (not ) Tj ET Q q 0 0 0 rg BT 116.50 153.80 Td (give ) Tj ET Q q 0 0 0 rg BT 131.43 153.80 Td (to ) Tj ET Q q 0 0 0 rg BT 138.80 153.80 Td (any ) Tj ET Q q 0 0 0 rg BT 151.50 153.80 Td (person ) Tj ET Q q 0 0 0 rg BT 173.98 153.80 Td (any ) Tj ET Q q 0 0 0 rg BT 186.68 153.80 Td (right ) Tj ET Q q 0 0 0 rg BT 202.94 153.80 Td (of ) Tj ET Q q 0 0 0 rg BT 210.75 153.80 Td (redemption, ) Tj ET Q q 0 0 0 rg BT 250.34 153.80 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 286.13 153.80 Td (or ) Tj ET Q q 0 0 0 rg BT 293.95 153.80 Td (acceleration ) Tj ET Q q 0 0 0 rg BT 333.73 153.80 Td (under ) Tj ET Q q 0 0 0 rg BT 353.10 153.80 Td (any ) Tj ET Q q 0 0 0 rg BT 365.80 153.80 Td (indenture ) Tj ET Q q 0 0 0 rg BT 397.16 153.80 Td (or ) Tj ET Q q 0 0 0 rg BT 404.98 153.80 Td (other ) Tj ET Q q 0 0 0 rg BT 422.56 153.80 Td (document ) Tj ET Q q 0 0 0 rg BT 455.26 153.80 Td (governing ) Tj ET Q q 0 0 0 rg BT 488.85 153.80 Td (any ) Tj ET Q q 0 0 0 rg BT 501.55 153.80 Td (of ) Tj ET Q q 0 0 0 rg BT 509.37 153.80 Td (our ) Tj ET Q q 0 0 0 rg BT 521.18 153.80 Td (indebtedness ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 144.20 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 88.87 144.20 Td (as ) Tj ET Q q 0 0 0 rg BT 97.57 144.20 Td (of ) Tj ET Q q 0 0 0 rg BT 106.28 144.20 Td (June ) Tj ET Q q 0 0 0 rg BT 122.98 144.20 Td (25, ) Tj ET Q q 0 0 0 rg BT 135.02 144.20 Td (2013, ) Tj ET Q q 0 0 0 rg BT 155.06 144.20 Td (each ) Tj ET Q q 0 0 0 rg BT 171.75 144.20 Td (Series ) Tj ET Q q 0 0 0 rg BT 193.34 144.20 Td (B ) Tj ET Q q 0 0 0 rg BT 200.71 144.20 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 232.51 144.20 Td (Share ) Tj ET Q q 0 0 0 rg BT 252.77 144.20 Td (may) Tj ET Q q 0 0 0 rg BT 266.02 144.20 Td (, ) Tj ET Q q 0 0 0 rg BT 270.06 144.20 Td (at ) Tj ET Q q 0 0 0 rg BT 277.87 144.20 Td (the ) Tj ET Q q 0 0 0 rg BT 289.68 144.20 Td (holder's ) Tj ET Q q 0 0 0 rg BT 316.71 144.20 Td (option, ) Tj ET Q q 0 0 0 rg BT 341.20 144.20 Td (be ) Tj ET Q q 0 0 0 rg BT 350.79 144.20 Td (converted ) Tj ET Q q 0 0 0 rg BT 384.37 144.20 Td (into ) Tj ET Q q 0 0 0 rg BT 398.85 144.20 Td (the ) Tj ET Q q 0 0 0 rg BT 410.66 144.20 Td (number ) Tj ET Q q 0 0 0 rg BT 437.14 144.20 Td (of ) Tj ET Q q 0 0 0 rg BT 445.84 144.20 Td (shares ) Tj ET Q q 0 0 0 rg BT 467.88 144.20 Td (of ) Tj ET Q q 0 0 0 rg BT 476.58 144.20 Td (our ) Tj ET Q q 0 0 0 rg BT 489.28 144.20 Td (Class ) Tj ET Q q 0 0 0 rg BT 508.21 144.20 Td (A) Tj ET Q q 0 0 0 rg BT 513.54 144.20 Td ( ) Tj ET Q q 0 0 0 rg BT 515.58 144.20 Td (common ) Tj ET Q q 0 0 0 rg BT 545.62 144.20 Td (stock ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 134.60 Td (determined ) Tj ET Q q 0 0 0 rg BT 87.42 134.60 Td (by ) Tj ET Q q 0 0 0 rg BT 97.36 134.60 Td (dividing ) Tj ET Q q 0 0 0 rg BT 125.97 134.60 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 135.46 134.60 Td (the ) Tj ET Q q 0 0 0 rg BT 147.17 134.60 Td (accreted ) Tj ET Q q 0 0 0 rg BT 175.75 134.60 Td (stated ) Tj ET Q q 0 0 0 rg BT 196.35 134.60 Td (value ) Tj ET Q q 0 0 0 rg BT 215.62 134.60 Td (plus ) Tj ET Q q 0 0 0 rg BT 230.89 134.60 Td (accrued ) Tj ET Q q 0 0 0 rg BT 257.70 134.60 Td (but ) Tj ET Q q 0 0 0 rg BT 269.86 134.60 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 293.57 134.60 Td (dividends, ) Tj ET Q q 0 0 0 rg BT 328.62 134.60 Td (if ) Tj ET Q q 0 0 0 rg BT 335.45 134.60 Td (any) Tj ET Q q 0 0 0 rg BT 346.48 134.60 Td (, ) Tj ET Q q 0 0 0 rg BT 350.42 134.60 Td (in ) Tj ET Q q 0 0 0 rg BT 358.58 134.60 Td (each ) Tj ET Q q 0 0 0 rg BT 375.17 134.60 Td (case ) Tj ET Q q 0 0 0 rg BT 390.88 134.60 Td (as ) Tj ET Q q 0 0 0 rg BT 399.48 134.60 Td (of ) Tj ET Q q 0 0 0 rg BT 408.09 134.60 Td (the ) Tj ET Q q 0 0 0 rg BT 419.80 134.60 Td (conversion ) Tj ET Q q 0 0 0 rg BT 456.84 134.60 Td (date, ) Tj ET Q q 0 0 0 rg BT 474.10 134.60 Td (by ) Tj ET Q q 0 0 0 rg BT 484.04 134.60 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 495.76 134.60 Td (the ) Tj ET Q q 0 0 0 rg BT 507.47 134.60 Td (conversion ) Tj ET Q q 0 0 0 rg BT 544.51 134.60 Td (price, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 125.00 Td (which ) Tj ET Q q 0 0 0 rg BT 71.18 125.00 Td (was ) Tj ET Q q 0 0 0 rg BT 85.75 125.00 Td (approximately ) Tj ET Q q 0 0 0 rg BT 134.08 125.00 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 150.44 125.00 Td (2.42) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 164.44 125.00 Td ( ) Tj ET Q q 0 0 0 rg BT 166.57 125.00 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 174.47 125.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 221.46 125.00 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 237.46 125.00 Td (, ) Tj ET Q q 0 0 0 rg BT 241.59 125.00 Td (but ) Tj ET Q q 0 0 0 rg BT 253.94 125.00 Td (is ) Tj ET Q q 0 0 0 rg BT 261.40 125.00 Td (subject ) Tj ET Q q 0 0 0 rg BT 286.19 125.00 Td (to ) Tj ET Q q 0 0 0 rg BT 294.54 125.00 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 331.78 125.00 Td (from ) Tj ET Q q 0 0 0 rg BT 349.46 125.00 Td (time ) Tj ET Q q 0 0 0 rg BT 365.80 125.00 Td (to ) Tj ET Q q 0 0 0 rg BT 374.15 125.00 Td (time ) Tj ET Q q 0 0 0 rg BT 390.50 125.00 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 420.18 125.00 Td (to ) Tj ET Q q 0 0 0 rg BT 428.53 125.00 Td (customary ) Tj ET Q q 0 0 0 rg BT 463.98 125.00 Td (weighted-average ) Tj ET Q q 0 0 0 rg BT 522.96 125.00 Td (anti-dilution ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 115.40 Td (provisions ) Tj ET Q q 0 0 0 rg BT 84.59 115.40 Td (with ) Tj ET Q q 0 0 0 rg BT 100.56 115.40 Td (respect ) Tj ET Q q 0 0 0 rg BT 124.96 115.40 Td (to ) Tj ET Q q 0 0 0 rg BT 132.93 115.40 Td (our ) Tj ET Q q 0 0 0 rg BT 145.35 115.40 Td (issuances ) Tj ET Q q 0 0 0 rg BT 177.31 115.40 Td (of ) Tj ET Q q 0 0 0 rg BT 185.73 115.40 Td (equity ) Tj ET Q q 0 0 0 rg BT 207.47 115.40 Td (or ) Tj ET Q q 0 0 0 rg BT 215.89 115.40 Td (equity-linked ) Tj ET Q q 0 0 0 rg BT 260.29 115.40 Td (securities ) Tj ET Q q 0 0 0 rg BT 292.25 115.40 Td (at ) Tj ET Q q 0 0 0 rg BT 299.78 115.40 Td (a ) Tj ET Q q 0 0 0 rg BT 305.08 115.40 Td (price ) Tj ET Q q 0 0 0 rg BT 322.82 115.40 Td (below ) Tj ET Q q 0 0 0 rg BT 344.12 115.40 Td (the ) Tj ET Q q 0 0 0 rg BT 355.64 115.40 Td (then-applicable ) Tj ET Q q 0 0 0 rg BT 406.70 115.40 Td (conversion ) Tj ET Q q 0 0 0 rg BT 443.55 115.40 Td (price ) Tj ET Q q 0 0 0 rg BT 461.29 115.40 Td (\(excluding ) Tj ET Q q 0 0 0 rg BT 497.25 115.40 Td (any ) Tj ET Q q 0 0 0 rg BT 510.55 115.40 Td (securities ) Tj ET Q q 0 0 0 rg BT 542.51 115.40 Td (issued ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 105.80 Td (under ) Tj ET Q q 0 0 0 rg BT 69.62 105.80 Td (our ) Tj ET Q q 0 0 0 rg BT 82.18 105.80 Td (benefit ) Tj ET Q q 0 0 0 rg BT 106.30 105.80 Td (plans ) Tj ET Q q 0 0 0 rg BT 125.09 105.80 Td (at ) Tj ET Q q 0 0 0 rg BT 132.76 105.80 Td (or ) Tj ET Q q 0 0 0 rg BT 141.33 105.80 Td (above ) Tj ET Q q 0 0 0 rg BT 162.33 105.80 Td (fair ) Tj ET Q q 0 0 0 rg BT 175.34 105.80 Td (market ) Tj ET Q q 0 0 0 rg BT 199.45 105.80 Td (value\). ) Tj ET Q q 0 0 0 rg BT 223.20 105.80 Td (W) Tj ET Q q 0 0 0 rg BT 230.11 105.80 Td (e ) Tj ET Q q 0 0 0 rg BT 235.57 105.80 Td (have ) Tj ET Q q 0 0 0 rg BT 252.57 105.80 Td (the ) Tj ET Q q 0 0 0 rg BT 264.25 105.80 Td (right ) Tj ET Q q 0 0 0 rg BT 281.26 105.80 Td (to ) Tj ET Q q 0 0 0 rg BT 289.38 105.80 Td (redeem ) Tj ET Q q 0 0 0 rg BT 314.82 105.80 Td (the ) Tj ET Q q 0 0 0 rg BT 326.50 105.80 Td (Series ) Tj ET Q q 0 0 0 rg BT 347.95 105.80 Td (B ) Tj ET Q q 0 0 0 rg BT 355.19 105.80 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 386.85 105.80 Td (Shares ) Tj ET Q q 0 0 0 rg BT 410.08 105.80 Td (in ) Tj ET Q q 0 0 0 rg BT 418.21 105.80 Td (whole ) Tj ET Q q 0 0 0 rg BT 439.66 105.80 Td (or ) Tj ET Q q 0 0 0 rg BT 448.23 105.80 Td (in ) Tj ET Q q 0 0 0 rg BT 456.35 105.80 Td (part ) Tj ET Q q 0 0 0 rg BT 470.69 105.80 Td (from ) Tj ET Q q 0 0 0 rg BT 488.14 105.80 Td (June25, ) Tj ET Q q 0 0 0 rg BT 516.71 105.80 Td (2016, ) Tj ET Q q 0 0 0 rg BT 536.61 105.80 Td (upon ) Tj ET Q q 0 0 0 rg BT 554.51 105.80 Td (30 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 96.20 Td (days' ) Tj ET Q q 0 0 0 rg BT 67.57 96.20 Td (written ) Tj ET Q q 0 0 0 rg BT 92.20 96.20 Td (notice. ) Tj ET Q q 0 0 0 rg BT 115.58 96.20 Td (The ) Tj ET Q q 0 0 0 rg BT 129.98 96.20 Td (redemption ) Tj ET Q q 0 0 0 rg BT 168.39 96.20 Td (price ) Tj ET Q q 0 0 0 rg BT 186.34 96.20 Td (of ) Tj ET Q q 0 0 0 rg BT 194.98 96.20 Td (each ) Tj ET Q q 0 0 0 rg BT 211.60 96.20 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 250.90 96.20 Td (Series ) Tj ET Q q 0 0 0 rg BT 272.42 96.20 Td (B ) Tj ET Q q 0 0 0 rg BT 279.72 96.20 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 311.45 96.20 Td (Share ) Tj ET Q q 0 0 0 rg BT 331.63 96.20 Td (is ) Tj ET Q q 0 0 0 rg BT 338.94 96.20 Td (equal ) Tj ET Q q 0 0 0 rg BT 358.23 96.20 Td (to ) Tj ET Q q 0 0 0 rg BT 366.42 96.20 Td (its ) Tj ET Q q 0 0 0 rg BT 375.95 96.20 Td (accreted ) Tj ET Q q 0 0 0 rg BT 404.56 96.20 Td (stated ) Tj ET Q q 0 0 0 rg BT 425.19 96.20 Td (value ) Tj ET Q q 0 0 0 rg BT 444.48 96.20 Td (plus ) Tj ET Q q 0 0 0 rg BT 459.78 96.20 Td (accrued ) Tj ET Q q 0 0 0 rg BT 486.62 96.20 Td (but ) Tj ET Q q 0 0 0 rg BT 498.81 96.20 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 522.55 96.20 Td (dividends, ) Tj ET Q q 0 0 0 rg BT 557.63 96.20 Td (if ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 86.60 Td (any) Tj ET Q q 0 0 0 rg BT 60.53 86.60 Td (, ) Tj ET Q q 0 0 0 rg BT 64.50 86.60 Td (in ) Tj ET Q q 0 0 0 rg BT 72.68 86.60 Td (each ) Tj ET Q q 0 0 0 rg BT 89.30 86.60 Td (case ) Tj ET Q q 0 0 0 rg BT 105.03 86.60 Td (as ) Tj ET Q q 0 0 0 rg BT 113.66 86.60 Td (of ) Tj ET Q q 0 0 0 rg BT 122.29 86.60 Td (the ) Tj ET Q q 0 0 0 rg BT 134.03 86.60 Td (redemption ) Tj ET Q q 0 0 0 rg BT 172.43 86.60 Td (date ) Tj ET Q q 0 0 0 rg BT 187.71 86.60 Td (specified ) Tj ET Q q 0 0 0 rg BT 218.55 86.60 Td (in ) Tj ET Q q 0 0 0 rg BT 226.74 86.60 Td (the ) Tj ET Q q 0 0 0 rg BT 238.48 86.60 Td (redemption ) Tj ET Q q 0 0 0 rg BT 276.88 86.60 Td (notice. ) Tj ET Q q 0 0 0 rg BT 299.96 86.60 Td (After ) Tj ET Q q 0 0 0 rg BT 318.80 86.60 Td (receipt ) Tj ET Q q 0 0 0 rg BT 342.53 86.60 Td (of ) Tj ET Q q 0 0 0 rg BT 351.16 86.60 Td (a ) Tj ET Q q 0 0 0 rg BT 356.67 86.60 Td (redemption ) Tj ET Q q 0 0 0 rg BT 395.07 86.60 Td (notice, ) Tj ET Q q 0 0 0 rg BT 418.58 86.60 Td (each ) Tj ET Q q 0 0 0 rg BT 435.20 86.60 Td (holder ) Tj ET Q q 0 0 0 rg BT 457.60 86.60 Td (of ) Tj ET Q q 0 0 0 rg BT 466.23 86.60 Td (Series ) Tj ET Q q 0 0 0 rg BT 487.75 86.60 Td (B ) Tj ET Q q 0 0 0 rg BT 495.05 86.60 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 526.77 86.60 Td (Shares ) Tj ET Q q 0 0 0 rg BT 550.06 86.60 Td (will ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 77.00 Td (have ) Tj ET Q q 0 0 0 rg BT 66.75 77.00 Td (the ) Tj ET Q q 0 0 0 rg BT 78.67 77.00 Td (right ) Tj ET Q q 0 0 0 rg BT 95.92 77.00 Td (to ) Tj ET Q q 0 0 0 rg BT 104.29 77.00 Td (convert, ) Tj ET Q q 0 0 0 rg BT 132.42 77.00 Td (prior ) Tj ET Q q 0 0 0 rg BT 150.12 77.00 Td (to ) Tj ET Q q 0 0 0 rg BT 158.49 77.00 Td (the ) Tj ET Q q 0 0 0 rg BT 170.41 77.00 Td (date ) Tj ET Q q 0 0 0 rg BT 185.88 77.00 Td (of ) Tj ET Q q 0 0 0 rg BT 194.69 77.00 Td (redemption, ) Tj ET Q q 0 0 0 rg BT 235.26 77.00 Td (all ) Tj ET Q q 0 0 0 rg BT 245.41 77.00 Td (or ) Tj ET Q q 0 0 0 rg BT 254.22 77.00 Td (part ) Tj ET Q q 0 0 0 rg BT 268.80 77.00 Td (of ) Tj ET Q q 0 0 0 rg BT 277.61 77.00 Td (such ) Tj ET Q q 0 0 0 rg BT 294.42 77.00 Td (Series ) Tj ET Q q 0 0 0 rg BT 316.11 77.00 Td (B ) Tj ET Q q 0 0 0 rg BT 323.60 77.00 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 355.50 77.00 Td (Shares ) Tj ET Q q 0 0 0 rg BT 378.97 77.00 Td (to ) Tj ET Q q 0 0 0 rg BT 387.34 77.00 Td (be ) Tj ET Q q 0 0 0 rg BT 397.04 77.00 Td (redeemed ) Tj ET Q q 0 0 0 rg BT 430.27 77.00 Td (by ) Tj ET Q q 0 0 0 rg BT 440.42 77.00 Td (us ) Tj ET Q q 0 0 0 rg BT 449.68 77.00 Td (into ) Tj ET Q q 0 0 0 rg BT 464.27 77.00 Td (shares ) Tj ET Q q 0 0 0 rg BT 486.41 77.00 Td (of ) Tj ET Q q 0 0 0 rg BT 495.21 77.00 Td (our ) Tj ET Q q 0 0 0 rg BT 508.02 77.00 Td (Class ) Tj ET Q q 0 0 0 rg BT 527.03 77.00 Td (A) Tj ET Q q 0 0 0 rg BT 532.37 77.00 Td ( ) Tj ET Q q 0 0 0 rg BT 534.51 77.00 Td (common ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 67.40 Td (stock ) Tj ET Q q 0 0 0 rg BT 68.39 67.40 Td (in ) Tj ET Q q 0 0 0 rg BT 76.61 67.40 Td (accordance ) Tj ET Q q 0 0 0 rg BT 114.58 67.40 Td (with ) Tj ET Q q 0 0 0 rg BT 130.80 67.40 Td (the ) Tj ET Q q 0 0 0 rg BT 142.57 67.40 Td (terms ) Tj ET Q q 0 0 0 rg BT 162.35 67.40 Td (of ) Tj ET Q q 0 0 0 rg BT 171.01 67.40 Td (conversion ) Tj ET Q q 0 0 0 rg BT 208.11 67.40 Td (described ) Tj ET Q q 0 0 0 rg BT 240.77 67.40 Td (above. ) Tj ET Q endstream endobj 139 0 obj <>] /Rotate 0 /Contents 140 0 R>> endobj 140 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (67) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 723.50 Td (Holders ) Tj ET Q q 0 0 0 rg BT 77.05 723.50 Td (of ) Tj ET Q q 0 0 0 rg BT 85.94 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 97.94 723.50 Td (Series ) Tj ET Q q 0 0 0 rg BT 119.71 723.50 Td (B ) Tj ET Q q 0 0 0 rg BT 127.27 723.50 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 159.25 723.50 Td (Shares ) Tj ET Q q 0 0 0 rg BT 182.80 723.50 Td (will ) Tj ET Q q 0 0 0 rg BT 197.47 723.50 Td (have ) Tj ET Q q 0 0 0 rg BT 214.80 723.50 Td (no ) Tj ET Q q 0 0 0 rg BT 225.02 723.50 Td (voting ) Tj ET Q q 0 0 0 rg BT 247.69 723.50 Td (rights ) Tj ET Q q 0 0 0 rg BT 268.14 723.50 Td (on ) Tj ET Q q 0 0 0 rg BT 278.36 723.50 Td (any ) Tj ET Q q 0 0 0 rg BT 292.13 723.50 Td (matter ) Tj ET Q q 0 0 0 rg BT 314.79 723.50 Td (presented ) Tj ET Q q 0 0 0 rg BT 347.67 723.50 Td (to ) Tj ET Q q 0 0 0 rg BT 356.11 723.50 Td (holders ) Tj ET Q q 0 0 0 rg BT 381.89 723.50 Td (of ) Tj ET Q q 0 0 0 rg BT 390.78 723.50 Td (any ) Tj ET Q q 0 0 0 rg BT 404.55 723.50 Td (class ) Tj ET Q q 0 0 0 rg BT 422.33 723.50 Td (of ) Tj ET Q q 0 0 0 rg BT 431.21 723.50 Td (our ) Tj ET Q q 0 0 0 rg BT 444.10 723.50 Td (capital ) Tj ET Q q 0 0 0 rg BT 467.64 723.50 Td (stock, ) Tj ET Q q 0 0 0 rg BT 488.75 723.50 Td (with ) Tj ET Q q 0 0 0 rg BT 505.20 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 517.20 723.50 Td (exception ) Tj ET Q q 0 0 0 rg BT 550.52 723.50 Td (that ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 713.90 Td (they ) Tj ET Q q 0 0 0 rg BT 65.25 713.90 Td (may ) Tj ET Q q 0 0 0 rg BT 81.00 713.90 Td (vote ) Tj ET Q q 0 0 0 rg BT 96.76 713.90 Td (with ) Tj ET Q q 0 0 0 rg BT 112.96 713.90 Td (holders ) Tj ET Q q 0 0 0 rg BT 138.49 713.90 Td (of ) Tj ET Q q 0 0 0 rg BT 147.13 713.90 Td (shares ) Tj ET Q q 0 0 0 rg BT 169.10 713.90 Td (of ) Tj ET Q q 0 0 0 rg BT 177.74 713.90 Td (our ) Tj ET Q q 0 0 0 rg BT 190.38 713.90 Td (Class ) Tj ET Q q 0 0 0 rg BT 209.26 713.90 Td (A) Tj ET Q q 0 0 0 rg BT 214.60 713.90 Td ( ) Tj ET Q q 0 0 0 rg BT 216.58 713.90 Td (common ) Tj ET Q q 0 0 0 rg BT 246.55 713.90 Td (stock ) Tj ET Q q 0 0 0 rg BT 265.42 713.90 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 274.95 713.90 Td (with ) Tj ET Q q 0 0 0 rg BT 291.15 713.90 Td (respect ) Tj ET Q q 0 0 0 rg BT 315.78 713.90 Td (to ) Tj ET Q q 0 0 0 rg BT 323.98 713.90 Td (a ) Tj ET Q q 0 0 0 rg BT 329.51 713.90 Td (change ) Tj ET Q q 0 0 0 rg BT 354.14 713.90 Td (of ) Tj ET Q q 0 0 0 rg BT 362.78 713.90 Td (control ) Tj ET Q q 0 0 0 rg BT 387.42 713.90 Td (event ) Tj ET Q q 0 0 0 rg BT 406.72 713.90 Td (or ) Tj ET Q q 0 0 0 rg BT 415.37 713.90 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 427.12 713.90 Td (as ) Tj ET Q q 0 0 0 rg BT 435.76 713.90 Td (provided ) Tj ET Q q 0 0 0 rg BT 466.18 713.90 Td (by ) Tj ET Q q 0 0 0 rg BT 476.16 713.90 Td (our ) Tj ET Q q 0 0 0 rg BT 488.80 713.90 Td (Bye-laws ) Tj ET Q q 0 0 0 rg BT 520.99 713.90 Td (or ) Tj ET Q q 0 0 0 rg BT 529.63 713.90 Td (applicable ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 704.30 Td (Bermuda ) Tj ET Q q 0 0 0 rg BT 80.65 704.30 Td (law) Tj ET Q q 0 0 0 rg BT 91.68 704.30 Td (. ) Tj ET Q q 0 0 0 rg BT 95.51 704.30 Td (Holders ) Tj ET Q q 0 0 0 rg BT 122.67 704.30 Td (of ) Tj ET Q q 0 0 0 rg BT 131.16 704.30 Td (Series ) Tj ET Q q 0 0 0 rg BT 152.54 704.30 Td (B ) Tj ET Q q 0 0 0 rg BT 159.70 704.30 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 191.29 704.30 Td (Shares ) Tj ET Q q 0 0 0 rg BT 214.45 704.30 Td (will ) Tj ET Q q 0 0 0 rg BT 228.72 704.30 Td (participate ) Tj ET Q q 0 0 0 rg BT 264.30 704.30 Td (in ) Tj ET Q q 0 0 0 rg BT 272.36 704.30 Td (any ) Tj ET Q q 0 0 0 rg BT 285.73 704.30 Td (dividends ) Tj ET Q q 0 0 0 rg BT 318.67 704.30 Td (declared ) Tj ET Q q 0 0 0 rg BT 347.59 704.30 Td (or ) Tj ET Q q 0 0 0 rg BT 356.08 704.30 Td (paid ) Tj ET Q q 0 0 0 rg BT 371.68 704.30 Td (on ) Tj ET Q q 0 0 0 rg BT 381.51 704.30 Td (our ) Tj ET Q q 0 0 0 rg BT 394.00 704.30 Td (Class ) Tj ET Q q 0 0 0 rg BT 412.76 704.30 Td (A) Tj ET Q q 0 0 0 rg BT 418.10 704.30 Td ( ) Tj ET Q q 0 0 0 rg BT 419.93 704.30 Td (common ) Tj ET Q q 0 0 0 rg BT 449.75 704.30 Td (stock ) Tj ET Q q 0 0 0 rg BT 468.47 704.30 Td (on ) Tj ET Q q 0 0 0 rg BT 478.30 704.30 Td (an ) Tj ET Q q 0 0 0 rg BT 487.67 704.30 Td (as-converted ) Tj ET Q q 0 0 0 rg BT 530.37 704.30 Td (basis. ) Tj ET Q q 0 0 0 rg BT 550.07 704.30 Td (The ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 694.70 Td (Series ) Tj ET Q q 0 0 0 rg BT 70.90 694.70 Td (B ) Tj ET Q q 0 0 0 rg BT 78.09 694.70 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 109.70 694.70 Td (Shares ) Tj ET Q q 0 0 0 rg BT 132.88 694.70 Td (will ) Tj ET Q q 0 0 0 rg BT 147.18 694.70 Td (rank ) Tj ET Q q 0 0 0 rg BT 163.24 694.70 Td (pari ) Tj ET Q q 0 0 0 rg BT 177.53 694.70 Td (passu ) Tj ET Q q 0 0 0 rg BT 197.16 694.70 Td (with ) Tj ET Q q 0 0 0 rg BT 213.23 694.70 Td (our ) Tj ET Q q 0 0 0 rg BT 225.75 694.70 Td (Series ) Tj ET Q q 0 0 0 rg BT 246.74 694.70 Td (A) Tj ET Q q 0 0 0 rg BT 252.08 694.70 Td ( ) Tj ET Q q 0 0 0 rg BT 253.93 694.70 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 293.55 694.70 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 325.16 694.70 Td (Stock ) Tj ET Q q 0 0 0 rg BT 345.24 694.70 Td (and ) Tj ET Q q 0 0 0 rg BT 358.64 694.70 Td (senior ) Tj ET Q q 0 0 0 rg BT 380.04 694.70 Td (to ) Tj ET Q q 0 0 0 rg BT 388.11 694.70 Td (all ) Tj ET Q q 0 0 0 rg BT 397.96 694.70 Td (other ) Tj ET Q q 0 0 0 rg BT 416.25 694.70 Td (equity ) Tj ET Q q 0 0 0 rg BT 438.10 694.70 Td (securities ) Tj ET Q q 0 0 0 rg BT 470.16 694.70 Td (of ) Tj ET Q q 0 0 0 rg BT 478.68 694.70 Td (the ) Tj ET Q q 0 0 0 rg BT 490.30 694.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 523.26 694.70 Td (in ) Tj ET Q q 0 0 0 rg BT 531.34 694.70 Td (respect ) Tj ET Q q 0 0 0 rg BT 555.84 694.70 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 685.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 78.96 685.10 Td (of ) Tj ET Q q 0 0 0 rg BT 87.55 685.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 120.57 685.10 Td (and ) Tj ET Q q 0 0 0 rg BT 134.04 685.10 Td (distribution ) Tj ET Q q 0 0 0 rg BT 172.85 685.10 Td (of ) Tj ET Q q 0 0 0 rg BT 181.43 685.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 202.02 685.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 219.93 685.10 Td (liquidation. ) Tj ET Q q 0 0 0 rg BT 258.38 685.10 Td (The ) Tj ET Q q 0 0 0 rg BT 272.73 685.10 Td (Series ) Tj ET Q q 0 0 0 rg BT 294.20 685.10 Td (B ) Tj ET Q q 0 0 0 rg BT 301.46 685.10 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 333.13 685.10 Td (Shares ) Tj ET Q q 0 0 0 rg BT 356.38 685.10 Td (have ) Tj ET Q q 0 0 0 rg BT 373.40 685.10 Td (such ) Tj ET Q q 0 0 0 rg BT 389.98 685.10 Td (other ) Tj ET Q q 0 0 0 rg BT 408.33 685.10 Td (rights, ) Tj ET Q q 0 0 0 rg BT 430.47 685.10 Td (powers ) Tj ET Q q 0 0 0 rg BT 455.50 685.10 Td (and ) Tj ET Q q 0 0 0 rg BT 468.97 685.10 Td (preferences ) Tj ET Q q 0 0 0 rg BT 507.74 685.10 Td (as ) Tj ET Q q 0 0 0 rg BT 516.33 685.10 Td (are ) Tj ET Q q 0 0 0 rg BT 528.01 685.10 Td (set ) Tj ET Q q 0 0 0 rg BT 538.81 685.10 Td (forth ) Tj ET Q q 0 0 0 rg BT 556.28 685.10 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 675.50 Td (the ) Tj ET Q q 0 0 0 rg BT 61.27 675.50 Td (Certificate ) Tj ET Q q 0 0 0 rg BT 97.03 675.50 Td (of ) Tj ET Q q 0 0 0 rg BT 105.70 675.50 Td (Designation ) Tj ET Q q 0 0 0 rg BT 146.36 675.50 Td (for ) Tj ET Q q 0 0 0 rg BT 157.68 675.50 Td (the ) Tj ET Q q 0 0 0 rg BT 169.46 675.50 Td (Series ) Tj ET Q q 0 0 0 rg BT 191.01 675.50 Td (B ) Tj ET Q q 0 0 0 rg BT 198.34 675.50 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 230.10 675.50 Td (Shares.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 659.90 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 659.90 Td (e ) Tj ET Q q 0 0 0 rg BT 62.17 659.90 Td (concluded ) Tj ET Q q 0 0 0 rg BT 97.25 659.90 Td (that ) Tj ET Q q 0 0 0 rg BT 111.45 659.90 Td (the ) Tj ET Q q 0 0 0 rg BT 123.43 659.90 Td (Series ) Tj ET Q q 0 0 0 rg BT 145.19 659.90 Td (B ) Tj ET Q q 0 0 0 rg BT 152.73 659.90 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 184.69 659.90 Td (Shares ) Tj ET Q q 0 0 0 rg BT 208.23 659.90 Td (were ) Tj ET Q q 0 0 0 rg BT 225.98 659.90 Td (not ) Tj ET Q q 0 0 0 rg BT 238.40 659.90 Td (considered ) Tj ET Q q 0 0 0 rg BT 275.26 659.90 Td (a ) Tj ET Q q 0 0 0 rg BT 281.02 659.90 Td (liability ) Tj ET Q q 0 0 0 rg BT 308.11 659.90 Td (and ) Tj ET Q q 0 0 0 rg BT 321.87 659.90 Td (that ) Tj ET Q q 0 0 0 rg BT 336.07 659.90 Td (the ) Tj ET Q q 0 0 0 rg BT 348.05 659.90 Td (embedded ) Tj ET Q q 0 0 0 rg BT 383.13 659.90 Td (conversion ) Tj ET Q q 0 0 0 rg BT 420.44 659.90 Td (feature ) Tj ET Q q 0 0 0 rg BT 444.85 659.90 Td (in ) Tj ET Q q 0 0 0 rg BT 453.28 659.90 Td (the ) Tj ET Q q 0 0 0 rg BT 465.26 659.90 Td (Series ) Tj ET Q q 0 0 0 rg BT 487.01 659.90 Td (B ) Tj ET Q q 0 0 0 rg BT 494.56 659.90 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 526.52 659.90 Td (Shares ) Tj ET Q q 0 0 0 rg BT 550.05 659.90 Td (was ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 650.30 Td (clearly ) Tj ET Q q 0 0 0 rg BT 73.39 650.30 Td (and ) Tj ET Q q 0 0 0 rg BT 87.08 650.30 Td (closely ) Tj ET Q q 0 0 0 rg BT 111.87 650.30 Td (related ) Tj ET Q q 0 0 0 rg BT 135.77 650.30 Td (to ) Tj ET Q q 0 0 0 rg BT 144.12 650.30 Td (the ) Tj ET Q q 0 0 0 rg BT 156.03 650.30 Td (host ) Tj ET Q q 0 0 0 rg BT 171.50 650.30 Td (contract ) Tj ET Q q 0 0 0 rg BT 199.39 650.30 Td (and ) Tj ET Q q 0 0 0 rg BT 213.07 650.30 Td (therefore ) Tj ET Q q 0 0 0 rg BT 244.07 650.30 Td (did ) Tj ET Q q 0 0 0 rg BT 256.43 650.30 Td (not ) Tj ET Q q 0 0 0 rg BT 268.79 650.30 Td (need ) Tj ET Q q 0 0 0 rg BT 286.02 650.30 Td (to ) Tj ET Q q 0 0 0 rg BT 294.38 650.30 Td (be ) Tj ET Q q 0 0 0 rg BT 304.06 650.30 Td (bifurcated. ) Tj ET Q q 0 0 0 rg BT 340.46 650.30 Td (The ) Tj ET Q q 0 0 0 rg BT 355.03 650.30 Td (Series ) Tj ET Q q 0 0 0 rg BT 376.72 650.30 Td (B ) Tj ET Q q 0 0 0 rg BT 384.19 650.30 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 416.08 650.30 Td (Shares ) Tj ET Q q 0 0 0 rg BT 439.54 650.30 Td (are ) Tj ET Q q 0 0 0 rg BT 451.44 650.30 Td (required ) Tj ET Q q 0 0 0 rg BT 480.22 650.30 Td (to ) Tj ET Q q 0 0 0 rg BT 488.58 650.30 Td (be ) Tj ET Q q 0 0 0 rg BT 498.26 650.30 Td (classified ) Tj ET Q q 0 0 0 rg BT 530.60 650.30 Td (outside ) Tj ET Q q 0 0 0 rg BT 555.85 650.30 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 640.70 Td (permanent ) Tj ET Q q 0 0 0 rg BT 85.13 640.70 Td (equity ) Tj ET Q q 0 0 0 rg BT 106.99 640.70 Td (because ) Tj ET Q q 0 0 0 rg BT 134.18 640.70 Td (such ) Tj ET Q q 0 0 0 rg BT 150.71 640.70 Td (shares ) Tj ET Q q 0 0 0 rg BT 172.57 640.70 Td (can ) Tj ET Q q 0 0 0 rg BT 185.54 640.70 Td (be ) Tj ET Q q 0 0 0 rg BT 194.95 640.70 Td (redeemed ) Tj ET Q q 0 0 0 rg BT 227.91 640.70 Td (for ) Tj ET Q q 0 0 0 rg BT 239.11 640.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 255.19 640.70 Td (in ) Tj ET Q q 0 0 0 rg BT 263.28 640.70 Td (certain ) Tj ET Q q 0 0 0 rg BT 286.91 640.70 Td (circumstances. ) Tj ET Q q 0 0 0 rg BT 335.95 640.70 Td (These ) Tj ET Q q 0 0 0 rg BT 356.92 640.70 Td (shares ) Tj ET Q q 0 0 0 rg BT 378.78 640.70 Td (are ) Tj ET Q q 0 0 0 rg BT 390.41 640.70 Td (not ) Tj ET Q q 0 0 0 rg BT 402.50 640.70 Td (currently ) Tj ET Q q 0 0 0 rg BT 433.24 640.70 Td (redeemable ) Tj ET Q q 0 0 0 rg BT 471.97 640.70 Td (and ) Tj ET Q q 0 0 0 rg BT 485.39 640.70 Td (thus ) Tj ET Q q 0 0 0 rg BT 500.60 640.70 Td (have ) Tj ET Q q 0 0 0 rg BT 517.56 640.70 Td (been ) Tj ET Q q 0 0 0 rg BT 534.53 640.70 Td (recorded ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 631.10 Td (on ) Tj ET Q q 0 0 0 rg BT 59.20 631.10 Td (the ) Tj ET Q q 0 0 0 rg BT 70.67 631.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 112.80 631.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 138.92 631.10 Td (sheet ) Tj ET Q q 0 0 0 rg BT 157.06 631.10 Td (based ) Tj ET Q q 0 0 0 rg BT 176.97 631.10 Td (on ) Tj ET Q q 0 0 0 rg BT 186.67 631.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 199.46 631.10 Td (value ) Tj ET Q q 0 0 0 rg BT 218.49 631.10 Td (at ) Tj ET Q q 0 0 0 rg BT 225.96 631.10 Td (the ) Tj ET Q q 0 0 0 rg BT 237.43 631.10 Td (time ) Tj ET Q q 0 0 0 rg BT 253.34 631.10 Td (of ) Tj ET Q q 0 0 0 rg BT 261.71 631.10 Td (issuance. ) Tj ET Q q 0 0 0 rg BT 292.38 631.10 Td (W) Tj ET Q q 0 0 0 rg BT 299.29 631.10 Td (e ) Tj ET Q q 0 0 0 rg BT 304.54 631.10 Td (have ) Tj ET Q q 0 0 0 rg BT 321.34 631.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 359.02 631.10 Td (that ) Tj ET Q q 0 0 0 rg BT 372.71 631.10 Td (it ) Tj ET Q q 0 0 0 rg BT 378.86 631.10 Td (is ) Tj ET Q q 0 0 0 rg BT 385.89 631.10 Td (probable ) Tj ET Q q 0 0 0 rg BT 415.57 631.10 Td (that ) Tj ET Q q 0 0 0 rg BT 429.27 631.10 Td (the ) Tj ET Q q 0 0 0 rg BT 440.74 631.10 Td (Series ) Tj ET Q q 0 0 0 rg BT 461.99 631.10 Td (B ) Tj ET Q q 0 0 0 rg BT 469.02 631.10 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 500.48 631.10 Td (Shares ) Tj ET Q q 0 0 0 rg BT 523.50 631.10 Td (will ) Tj ET Q q 0 0 0 rg BT 537.64 631.10 Td (become ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 621.50 Td (redeemable ) Tj ET Q q 0 0 0 rg BT 88.52 621.50 Td (and ) Tj ET Q q 0 0 0 rg BT 102.23 621.50 Td (thus ) Tj ET Q q 0 0 0 rg BT 117.72 621.50 Td (have ) Tj ET Q q 0 0 0 rg BT 134.98 621.50 Td (accreted ) Tj ET Q q 0 0 0 rg BT 163.77 621.50 Td (changes ) Tj ET Q q 0 0 0 rg BT 191.70 621.50 Td (in ) Tj ET Q q 0 0 0 rg BT 200.07 621.50 Td (the ) Tj ET Q q 0 0 0 rg BT 212.00 621.50 Td (redemption ) Tj ET Q q 0 0 0 rg BT 250.59 621.50 Td (value ) Tj ET Q q 0 0 0 rg BT 270.07 621.50 Td (since ) Tj ET Q q 0 0 0 rg BT 288.67 621.50 Td (issuance. ) Tj ET Q q 0 0 0 rg BT 319.93 621.50 Td (For ) Tj ET Q q 0 0 0 rg BT 333.20 621.50 Td (the ) Tj ET Q q 0 0 0 rg BT 345.13 621.50 Td (years ) Tj ET Q q 0 0 0 rg BT 364.16 621.50 Td (ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.42 621.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 432.44 621.50 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 448.44 621.50 Td ( ) Tj ET Q q 0 0 0 rg BT 450.60 621.50 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.30 621.50 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.30 621.50 Td (, ) Tj ET Q q 0 0 0 rg BT 484.46 621.50 Td (we ) Tj ET Q q 0 0 0 rg BT 495.95 621.50 Td (recognized ) Tj ET Q q 0 0 0 rg BT 533.19 621.50 Td (accretion ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 611.90 Td (on ) Tj ET Q q 0 0 0 rg BT 59.50 611.90 Td (the ) Tj ET Q q 0 0 0 rg BT 71.27 611.90 Td (Series ) Tj ET Q q 0 0 0 rg BT 92.82 611.90 Td (B ) Tj ET Q q 0 0 0 rg BT 100.16 611.90 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 131.92 611.90 Td (Shares ) Tj ET Q q 0 0 0 rg BT 155.25 611.90 Td (of ) Tj ET Q q 0 0 0 rg BT 163.91 611.90 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 180.14 611.90 Td (16.0 ) Tj ET Q q 0 0 0 rg BT 196.14 611.90 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 219.25 611.90 Td ( ) Tj ET Q q 0 0 0 rg BT 221.25 611.90 Td (and ) Tj ET Q q 0 0 0 rg BT 234.80 611.90 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 251.03 611.90 Td (7.9 ) Tj ET Q q 0 0 0 rg BT 263.03 611.90 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 286.14 611.90 Td (, ) Tj ET Q q 0 0 0 rg BT 290.14 611.90 Td (with ) Tj ET Q q 0 0 0 rg BT 306.36 611.90 Td (corresponding ) Tj ET Q q 0 0 0 rg BT 354.13 611.90 Td (decreases ) Tj ET Q q 0 0 0 rg BT 386.77 611.90 Td (in ) Tj ET Q q 0 0 0 rg BT 395.00 611.90 Td (additional ) Tj ET Q q 0 0 0 rg BT 428.99 611.90 Td (paid-in ) Tj ET Q q 0 0 0 rg BT 453.65 611.90 Td (capital.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 590.30 Td (13. ) Tj ET Q q 0 0 0 rg BT 67.50 590.30 Td (EQUITY) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 571.70 Td (Pr) Tj ET Q q 0 0 0 rg BT 57.20 571.70 Td (eferr) Tj ET Q q 0 0 0 rg BT 72.46 571.70 Td (ed ) Tj ET Q q 0 0 0 rg BT 82.01 571.70 Td (Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 556.10 Td (5,000,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.50 556.10 Td ( ) Tj ET Q q 0 0 0 rg BT 83.50 556.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 105.49 556.10 Td (of ) Tj ET Q q 0 0 0 rg BT 114.16 556.10 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 145.91 556.10 Td (Stock ) Tj ET Q q 0 0 0 rg BT 166.14 556.10 Td (were ) Tj ET Q q 0 0 0 rg BT 183.68 556.10 Td (authorized ) Tj ET Q q 0 0 0 rg BT 219.44 556.10 Td (as ) Tj ET Q q 0 0 0 rg BT 228.11 556.10 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.88 556.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 282.75 556.10 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.75 556.10 Td ( ) Tj ET Q q 0 0 0 rg BT 300.75 556.10 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.30 556.10 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.30 556.10 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 540.50 Td (One) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 62.83 540.50 Td ( ) Tj ET Q q 0 0 0 rg BT 64.84 540.50 Td (share ) Tj ET Q q 0 0 0 rg BT 83.74 540.50 Td (of ) Tj ET Q q 0 0 0 rg BT 92.42 540.50 Td (Series ) Tj ET Q q 0 0 0 rg BT 113.54 540.50 Td (A) Tj ET Q q 0 0 0 rg BT 118.88 540.50 Td ( ) Tj ET Q q 0 0 0 rg BT 120.90 540.50 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 160.68 540.50 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 192.46 540.50 Td (Stock ) Tj ET Q q 0 0 0 rg BT 212.70 540.50 Td (\(the ) Tj ET Q q 0 0 0 rg BT 227.15 540.50 Td (Series ) Tj ET Q q 0 0 0 rg BT 251.82 540.50 Td (A) Tj ET Q q 0 0 0 rg BT 257.16 540.50 Td ( ) Tj ET Q q 0 0 0 rg BT 259.17 540.50 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 290.95 540.50 Td (Share\) ) Tj ET Q q 0 0 0 rg BT 317.40 540.50 Td (was ) Tj ET Q q 0 0 0 rg BT 331.85 540.50 Td (issued ) Tj ET Q q 0 0 0 rg BT 353.87 540.50 Td (and ) Tj ET Q q 0 0 0 rg BT 367.44 540.50 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 406.79 540.50 Td (as ) Tj ET Q q 0 0 0 rg BT 415.47 540.50 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.26 540.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 470.14 540.50 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.14 540.50 Td ( ) Tj ET Q q 0 0 0 rg BT 488.16 540.50 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.72 540.50 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 517.72 540.50 Td (. ) Tj ET Q q 0 0 0 rg BT 521.60 540.50 Td (The ) Tj ET Q q 0 0 0 rg BT 536.05 540.50 Td (Series ) Tj ET Q q 0 0 0 rg BT 557.17 540.50 Td (A) Tj ET Q q 0 0 0 rg BT 562.51 540.50 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 530.90 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 80.97 530.90 Td (Share ) Tj ET Q q 0 0 0 rg BT 100.89 530.90 Td (is ) Tj ET Q q 0 0 0 rg BT 107.94 530.90 Td (convertible ) Tj ET Q q 0 0 0 rg BT 145.63 530.90 Td (into ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 159.79 530.90 Td (1) Tj ET Q q 0 0 0 rg BT 163.49 530.90 Td (1,21) Tj ET Q q 0 0 0 rg BT 177.19 530.90 Td (1,449) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 195.19 530.90 Td ( ) Tj ET Q q 0 0 0 rg BT 196.90 530.90 Td (shares ) Tj ET Q q 0 0 0 rg BT 218.61 530.90 Td (of ) Tj ET Q q 0 0 0 rg BT 226.98 530.90 Td (Class ) Tj ET Q q 0 0 0 rg BT 245.65 530.90 Td (A) Tj ET Q q 0 0 0 rg BT 250.98 530.90 Td ( ) Tj ET Q q 0 0 0 rg BT 252.69 530.90 Td (common ) Tj ET Q q 0 0 0 rg BT 282.40 530.90 Td (stock ) Tj ET Q q 0 0 0 rg BT 301.00 530.90 Td (on ) Tj ET Q q 0 0 0 rg BT 310.71 530.90 Td (the ) Tj ET Q q 0 0 0 rg BT 322.19 530.90 Td (date ) Tj ET Q q 0 0 0 rg BT 337.23 530.90 Td (that ) Tj ET Q q 0 0 0 rg BT 350.93 530.90 Td (is ) Tj ET Q q 0 0 0 rg BT 357.98 530.90 Td (61 ) Tj ET Q q 0 0 0 rg BT 367.69 530.90 Td (days ) Tj ET Q q 0 0 0 rg BT 384.06 530.90 Td (after ) Tj ET Q q 0 0 0 rg BT 400.42 530.90 Td (the ) Tj ET Q q 0 0 0 rg BT 411.91 530.90 Td (date ) Tj ET Q q 0 0 0 rg BT 426.94 530.90 Td (on ) Tj ET Q q 0 0 0 rg BT 436.65 530.90 Td (which ) Tj ET Q q 0 0 0 rg BT 457.91 530.90 Td (the ) Tj ET Q q 0 0 0 rg BT 469.40 530.90 Td (ownership ) Tj ET Q q 0 0 0 rg BT 504.43 530.90 Td (of ) Tj ET Q q 0 0 0 rg BT 512.81 530.90 Td (our ) Tj ET Q q 0 0 0 rg BT 525.18 530.90 Td (outstanding ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 521.30 Td (shares ) Tj ET Q q 0 0 0 rg BT 71.93 521.30 Td (of ) Tj ET Q q 0 0 0 rg BT 81.03 521.30 Td (Class ) Tj ET Q q 0 0 0 rg BT 100.26 521.30 Td (A) Tj ET Q q 0 0 0 rg BT 105.60 521.30 Td ( ) Tj ET Q q 0 0 0 rg BT 108.03 521.30 Td (common ) Tj ET Q q 0 0 0 rg BT 138.46 521.30 Td (stock ) Tj ET Q q 0 0 0 rg BT 157.79 521.30 Td (by ) Tj ET Q q 0 0 0 rg BT 168.22 521.30 Td (a ) Tj ET Q q 0 0 0 rg BT 174.21 521.30 Td (group ) Tj ET Q q 0 0 0 rg BT 195.31 521.30 Td (that ) Tj ET Q q 0 0 0 rg BT 209.74 521.30 Td (includes ) Tj ET Q q 0 0 0 rg BT 238.66 521.30 Td (TW) Tj ET Q q 0 0 0 rg BT 250.95 521.30 Td ( ) Tj ET Q q 0 0 0 rg BT 253.39 521.30 Td (Investor ) Tj ET Q q 0 0 0 rg BT 282.04 521.30 Td (and ) Tj ET Q q 0 0 0 rg BT 296.02 521.30 Td (its ) Tj ET Q q 0 0 0 rg BT 306.02 521.30 Td (af) Tj ET Q q 0 0 0 rg BT 312.09 521.30 Td (filiates ) Tj ET Q q 0 0 0 rg BT 336.29 521.30 Td (would ) Tj ET Q q 0 0 0 rg BT 358.73 521.30 Td (not ) Tj ET Q q 0 0 0 rg BT 371.39 521.30 Td (be ) Tj ET Q q 0 0 0 rg BT 381.37 521.30 Td (greater ) Tj ET Q q 0 0 0 rg BT 406.01 521.30 Td (than ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.22 521.30 Td (49.9%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.89 521.30 Td ( ) Tj ET Q q 0 0 0 rg BT 445.32 521.30 Td (of ) Tj ET Q q 0 0 0 rg BT 454.42 521.30 Td (the ) Tj ET Q q 0 0 0 rg BT 466.63 521.30 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 506.40 521.30 Td (shares ) Tj ET Q q 0 0 0 rg BT 528.83 521.30 Td (of ) Tj ET Q q 0 0 0 rg BT 537.93 521.30 Td (Class ) Tj ET Q q 0 0 0 rg BT 557.16 521.30 Td (A) Tj ET Q q 0 0 0 rg BT 562.50 521.30 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 511.70 Td (common ) Tj ET Q q 0 0 0 rg BT 79.34 511.70 Td (stock. ) Tj ET Q q 0 0 0 rg BT 99.94 511.70 Td (The ) Tj ET Q q 0 0 0 rg BT 114.22 511.70 Td (Series ) Tj ET Q q 0 0 0 rg BT 135.21 511.70 Td (A) Tj ET Q q 0 0 0 rg BT 140.55 511.70 Td ( ) Tj ET Q q 0 0 0 rg BT 142.40 511.70 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 174.00 511.70 Td (Share ) Tj ET Q q 0 0 0 rg BT 194.06 511.70 Td (is ) Tj ET Q q 0 0 0 rg BT 201.24 511.70 Td (entitled ) Tj ET Q q 0 0 0 rg BT 227.08 511.70 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.15 511.70 Td (one) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 246.70 511.70 Td ( ) Tj ET Q q 0 0 0 rg BT 248.54 511.70 Td (vote ) Tj ET Q q 0 0 0 rg BT 264.16 511.70 Td (per ) Tj ET Q q 0 0 0 rg BT 276.22 511.70 Td (each ) Tj ET Q q 0 0 0 rg BT 292.72 511.70 Td (share ) Tj ET Q q 0 0 0 rg BT 311.45 511.70 Td (of ) Tj ET Q q 0 0 0 rg BT 319.96 511.70 Td (Class) Tj ET Q q 0 0 0 rg BT 338.85 511.70 Td (A) Tj ET Q q 0 0 0 rg BT 344.19 511.70 Td ( ) Tj ET Q q 0 0 0 rg BT 346.03 511.70 Td (common ) Tj ET Q q 0 0 0 rg BT 375.87 511.70 Td (stock ) Tj ET Q q 0 0 0 rg BT 394.61 511.70 Td (into ) Tj ET Q q 0 0 0 rg BT 408.90 511.70 Td (which ) Tj ET Q q 0 0 0 rg BT 430.29 511.70 Td (it ) Tj ET Q q 0 0 0 rg BT 436.58 511.70 Td (is ) Tj ET Q q 0 0 0 rg BT 443.77 511.70 Td (convertible ) Tj ET Q q 0 0 0 rg BT 481.60 511.70 Td (and ) Tj ET Q q 0 0 0 rg BT 494.99 511.70 Td (has ) Tj ET Q q 0 0 0 rg BT 507.50 511.70 Td (such ) Tj ET Q q 0 0 0 rg BT 524.01 511.70 Td (other ) Tj ET Q q 0 0 0 rg BT 542.30 511.70 Td (rights, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 502.10 Td (powers ) Tj ET Q q 0 0 0 rg BT 74.86 502.10 Td (and ) Tj ET Q q 0 0 0 rg BT 88.67 502.10 Td (preferences, ) Tj ET Q q 0 0 0 rg BT 129.79 502.10 Td (including ) Tj ET Q q 0 0 0 rg BT 162.27 502.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 192.52 502.10 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 232.99 502.10 Td (to ) Tj ET Q q 0 0 0 rg BT 241.47 502.10 Td (the ) Tj ET Q q 0 0 0 rg BT 253.50 502.10 Td (number ) Tj ET Q q 0 0 0 rg BT 280.20 502.10 Td (of ) Tj ET Q q 0 0 0 rg BT 289.12 502.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 311.37 502.10 Td (of ) Tj ET Q q 0 0 0 rg BT 320.29 502.10 Td (Class) Tj ET Q q 0 0 0 rg BT 339.19 502.10 Td (A) Tj ET Q q 0 0 0 rg BT 344.52 502.10 Td ( ) Tj ET Q q 0 0 0 rg BT 346.78 502.10 Td (common ) Tj ET Q q 0 0 0 rg BT 377.04 502.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 396.18 502.10 Td (to ) Tj ET Q q 0 0 0 rg BT 404.66 502.10 Td (be ) Tj ET Q q 0 0 0 rg BT 414.47 502.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 436.73 502.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 454.98 502.10 Td (conversion, ) Tj ET Q q 0 0 0 rg BT 494.34 502.10 Td (as ) Tj ET Q q 0 0 0 rg BT 503.27 502.10 Td (are ) Tj ET Q q 0 0 0 rg BT 515.29 502.10 Td (set ) Tj ET Q q 0 0 0 rg BT 526.43 502.10 Td (forth ) Tj ET Q q 0 0 0 rg BT 544.24 502.10 Td (in ) Tj ET Q q 0 0 0 rg BT 552.72 502.10 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 492.50 Td (Certificate ) Tj ET Q q 0 0 0 rg BT 85.26 492.50 Td (of ) Tj ET Q q 0 0 0 rg BT 93.92 492.50 Td (Designation ) Tj ET Q q 0 0 0 rg BT 134.58 492.50 Td (for ) Tj ET Q q 0 0 0 rg BT 145.91 492.50 Td (the ) Tj ET Q q 0 0 0 rg BT 157.68 492.50 Td (Series ) Tj ET Q q 0 0 0 rg BT 178.79 492.50 Td (A) Tj ET Q q 0 0 0 rg BT 184.13 492.50 Td ( ) Tj ET Q q 0 0 0 rg BT 186.13 492.50 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 217.89 492.50 Td (Share.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 476.90 Td (200,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 75.50 476.90 Td ( ) Tj ET Q q 0 0 0 rg BT 77.82 476.90 Td (shares ) Tj ET Q q 0 0 0 rg BT 100.12 476.90 Td (of ) Tj ET Q q 0 0 0 rg BT 109.10 476.90 Td (Series ) Tj ET Q q 0 0 0 rg BT 130.97 476.90 Td (B ) Tj ET Q q 0 0 0 rg BT 138.62 476.90 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 170.69 476.90 Td (Shares ) Tj ET Q q 0 0 0 rg BT 194.34 476.90 Td (were ) Tj ET Q q 0 0 0 rg BT 212.20 476.90 Td (issued ) Tj ET Q q 0 0 0 rg BT 234.51 476.90 Td (and ) Tj ET Q q 0 0 0 rg BT 248.38 476.90 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 288.02 476.90 Td (as ) Tj ET Q q 0 0 0 rg BT 297.00 476.90 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 305.09 476.90 Td (December31, ) Tj ET Q q 0 0 0 rg BT 352.28 476.90 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.28 476.90 Td ( ) Tj ET Q q 0 0 0 rg BT 370.59 476.90 Td (\(see ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.79 476.90 Td (Note ) Tj ET Q q 0 0 0 rg BT 403.65 476.90 Td (12, ) Tj ET Q q 0 0 0 rg BT 415.97 476.90 Td ("Convertible ) Tj ET Q q 0 0 0 rg BT 459.32 476.90 Td (Redeemable ) Tj ET Q q 0 0 0 rg BT 501.17 476.90 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 533.24 476.90 Td (Shares") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 557.83 476.90 Td (\). ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 467.30 Td (Assuming ) Tj ET Q q 0 0 0 rg BT 83.74 467.30 Td (conversion ) Tj ET Q q 0 0 0 rg BT 120.63 467.30 Td (on ) Tj ET Q q 0 0 0 rg BT 130.42 467.30 Td (June ) Tj ET Q q 0 0 0 rg BT 146.87 467.30 Td (25, ) Tj ET Q q 0 0 0 rg BT 158.66 467.30 Td (2016 ) Tj ET Q q 0 0 0 rg BT 176.44 467.30 Td (and ) Tj ET Q q 0 0 0 rg BT 189.78 467.30 Td (no ) Tj ET Q q 0 0 0 rg BT 199.57 467.30 Td (further ) Tj ET Q q 0 0 0 rg BT 223.12 467.30 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 263.13 467.30 Td (to ) Tj ET Q q 0 0 0 rg BT 271.14 467.30 Td (the ) Tj ET Q q 0 0 0 rg BT 282.70 467.30 Td (conversion ) Tj ET Q q 0 0 0 rg BT 319.59 467.30 Td (price ) Tj ET Q q 0 0 0 rg BT 337.37 467.30 Td (under ) Tj ET Q q 0 0 0 rg BT 357.37 467.30 Td (the ) Tj ET Q q 0 0 0 rg BT 368.93 467.30 Td (Certificate ) Tj ET Q q 0 0 0 rg BT 404.48 467.30 Td (of ) Tj ET Q q 0 0 0 rg BT 412.93 467.30 Td (Designations ) Tj ET Q q 0 0 0 rg BT 456.49 467.30 Td (for ) Tj ET Q q 0 0 0 rg BT 467.61 467.30 Td (the ) Tj ET Q q 0 0 0 rg BT 479.17 467.30 Td (Series ) Tj ET Q q 0 0 0 rg BT 500.51 467.30 Td (B ) Tj ET Q q 0 0 0 rg BT 507.63 467.30 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 539.18 467.30 Td (Shares, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 457.70 Td (TW) Tj ET Q q 0 0 0 rg BT 61.79 457.70 Td ( ) Tj ET Q q 0 0 0 rg BT 63.79 457.70 Td (Investor ) Tj ET Q q 0 0 0 rg BT 92.01 457.70 Td (would ) Tj ET Q q 0 0 0 rg BT 114.01 457.70 Td (be ) Tj ET Q q 0 0 0 rg BT 123.56 457.70 Td (issued ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 145.56 457.70 Td (103.1 ) Tj ET Q q 0 0 0 rg BT 165.56 457.70 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 188.67 457.70 Td ( ) Tj ET Q q 0 0 0 rg BT 190.67 457.70 Td (shares ) Tj ET Q q 0 0 0 rg BT 212.66 457.70 Td (of ) Tj ET Q q 0 0 0 rg BT 221.33 457.70 Td (Class ) Tj ET Q q 0 0 0 rg BT 240.22 457.70 Td (A) Tj ET Q q 0 0 0 rg BT 245.56 457.70 Td ( ) Tj ET Q q 0 0 0 rg BT 247.56 457.70 Td (common ) Tj ET Q q 0 0 0 rg BT 277.55 457.70 Td (stock ) Tj ET Q q 0 0 0 rg BT 296.44 457.70 Td (upon ) Tj ET Q q 0 0 0 rg BT 314.44 457.70 Td (conversion. ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 439.10 Td (Class ) Tj ET Q q 0 0 0 rg BT 69.14 439.10 Td (A) Tj ET Q q 0 0 0 rg BT 73.88 439.10 Td ( ) Tj ET Q q 0 0 0 rg BT 75.88 439.10 Td (and ) Tj ET Q q 0 0 0 rg BT 89.88 439.10 Td (B ) Tj ET Q q 0 0 0 rg BT 96.77 439.10 Td (Common ) Tj ET Q q 0 0 0 rg BT 127.66 439.10 Td (Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 423.50 Td (440,000,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 89.50 423.50 Td ( ) Tj ET Q q 0 0 0 rg BT 91.65 423.50 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 105.35 423.50 Td (300,000,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 145.35 423.50 Td ( ) Tj ET Q q 0 0 0 rg BT 147.50 423.50 Td (shares ) Tj ET Q q 0 0 0 rg BT 169.64 423.50 Td (of ) Tj ET Q q 0 0 0 rg BT 178.46 423.50 Td (Class ) Tj ET Q q 0 0 0 rg BT 197.47 423.50 Td (A) Tj ET Q q 0 0 0 rg BT 202.81 423.50 Td ( ) Tj ET Q q 0 0 0 rg BT 204.96 423.50 Td (common ) Tj ET Q q 0 0 0 rg BT 235.10 423.50 Td (stock ) Tj ET Q q 0 0 0 rg BT 254.14 423.50 Td (were ) Tj ET Q q 0 0 0 rg BT 271.83 423.50 Td (authorized ) Tj ET Q q 0 0 0 rg BT 307.75 423.50 Td (as ) Tj ET Q q 0 0 0 rg BT 316.56 423.50 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 324.48 423.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 371.50 423.50 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 387.50 423.50 Td ( ) Tj ET Q q 0 0 0 rg BT 389.65 423.50 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.35 423.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 450.37 423.50 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.37 423.50 Td (, ) Tj ET Q q 0 0 0 rg BT 470.52 423.50 Td (respectively) Tj ET Q q 0 0 0 rg BT 508.65 423.50 Td (, ) Tj ET Q q 0 0 0 rg BT 512.80 423.50 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.50 423.50 Td (15,000,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 562.50 423.50 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 413.90 Td (shares ) Tj ET Q q 0 0 0 rg BT 71.07 413.90 Td (of ) Tj ET Q q 0 0 0 rg BT 79.32 413.90 Td (Class ) Tj ET Q q 0 0 0 rg BT 98.24 413.90 Td (B ) Tj ET Q q 0 0 0 rg BT 105.16 413.90 Td (common ) Tj ET Q q 0 0 0 rg BT 134.73 413.90 Td (stock ) Tj ET Q q 0 0 0 rg BT 153.20 413.90 Td (were ) Tj ET Q q 0 0 0 rg BT 170.33 413.90 Td (authorized ) Tj ET Q q 0 0 0 rg BT 205.67 413.90 Td (as ) Tj ET Q q 0 0 0 rg BT 213.92 413.90 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.27 413.90 Td (December31, ) Tj ET Q q 0 0 0 rg BT 267.72 413.90 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 283.72 413.90 Td ( ) Tj ET Q q 0 0 0 rg BT 285.30 413.90 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.44 413.90 Td (December31, ) Tj ET Q q 0 0 0 rg BT 344.89 413.90 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 360.89 413.90 Td (. ) Tj ET Q q 0 0 0 rg BT 364.35 413.90 Td (The ) Tj ET Q q 0 0 0 rg BT 378.37 413.90 Td (rights ) Tj ET Q q 0 0 0 rg BT 398.18 413.90 Td (of ) Tj ET Q q 0 0 0 rg BT 406.42 413.90 Td (the ) Tj ET Q q 0 0 0 rg BT 417.78 413.90 Td (holders ) Tj ET Q q 0 0 0 rg BT 442.91 413.90 Td (of ) Tj ET Q q 0 0 0 rg BT 451.16 413.90 Td (Class ) Tj ET Q q 0 0 0 rg BT 469.73 413.90 Td (A) Tj ET Q q 0 0 0 rg BT 475.06 413.90 Td ( ) Tj ET Q q 0 0 0 rg BT 476.65 413.90 Td (common ) Tj ET Q q 0 0 0 rg BT 506.22 413.90 Td (stock ) Tj ET Q q 0 0 0 rg BT 524.69 413.90 Td (and ) Tj ET Q q 0 0 0 rg BT 537.83 413.90 Td (ClassB ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 404.30 Td (common ) Tj ET Q q 0 0 0 rg BT 79.74 404.30 Td (stock ) Tj ET Q q 0 0 0 rg BT 98.88 404.30 Td (are ) Tj ET Q q 0 0 0 rg BT 110.89 404.30 Td (identical ) Tj ET Q q 0 0 0 rg BT 140.68 404.30 Td (except ) Tj ET Q q 0 0 0 rg BT 163.80 404.30 Td (for ) Tj ET Q q 0 0 0 rg BT 175.38 404.30 Td (voting ) Tj ET Q q 0 0 0 rg BT 198.07 404.30 Td (rights. ) Tj ET Q q 0 0 0 rg BT 220.38 404.30 Td (The ) Tj ET Q q 0 0 0 rg BT 235.06 404.30 Td (shares ) Tj ET Q q 0 0 0 rg BT 257.30 404.30 Td (of ) Tj ET Q q 0 0 0 rg BT 266.21 404.30 Td (Class ) Tj ET Q q 0 0 0 rg BT 285.30 404.30 Td (A) Tj ET Q q 0 0 0 rg BT 290.63 404.30 Td ( ) Tj ET Q q 0 0 0 rg BT 292.88 404.30 Td (common ) Tj ET Q q 0 0 0 rg BT 323.12 404.30 Td (stock ) Tj ET Q q 0 0 0 rg BT 342.26 404.30 Td (are ) Tj ET Q q 0 0 0 rg BT 354.27 404.30 Td (entitled ) Tj ET Q q 0 0 0 rg BT 380.51 404.30 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.98 404.30 Td (one) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.53 404.30 Td ( ) Tj ET Q q 0 0 0 rg BT 402.78 404.30 Td (vote ) Tj ET Q q 0 0 0 rg BT 418.80 404.30 Td (per ) Tj ET Q q 0 0 0 rg BT 431.26 404.30 Td (share ) Tj ET Q q 0 0 0 rg BT 450.39 404.30 Td (and ) Tj ET Q q 0 0 0 rg BT 464.18 404.30 Td (the ) Tj ET Q q 0 0 0 rg BT 476.20 404.30 Td (shares ) Tj ET Q q 0 0 0 rg BT 498.44 404.30 Td (of ) Tj ET Q q 0 0 0 rg BT 507.35 404.30 Td (Class ) Tj ET Q q 0 0 0 rg BT 526.94 404.30 Td (B ) Tj ET Q q 0 0 0 rg BT 534.52 404.30 Td (common ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 394.70 Td (stock ) Tj ET Q q 0 0 0 rg BT 68.91 394.70 Td (are ) Tj ET Q q 0 0 0 rg BT 81.19 394.70 Td (entitled ) Tj ET Q q 0 0 0 rg BT 107.70 394.70 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 116.44 394.70 Td (ten) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 126.21 394.70 Td ( ) Tj ET Q q 0 0 0 rg BT 128.73 394.70 Td (votes ) Tj ET Q q 0 0 0 rg BT 148.14 394.70 Td (per ) Tj ET Q q 0 0 0 rg BT 160.87 394.70 Td (share. ) Tj ET Q q 0 0 0 rg BT 182.27 394.70 Td (Shares ) Tj ET Q q 0 0 0 rg BT 206.12 394.70 Td (of ) Tj ET Q q 0 0 0 rg BT 215.30 394.70 Td (Class ) Tj ET Q q 0 0 0 rg BT 235.15 394.70 Td (B ) Tj ET Q q 0 0 0 rg BT 243.01 394.70 Td (common ) Tj ET Q q 0 0 0 rg BT 273.52 394.70 Td (stock ) Tj ET Q q 0 0 0 rg BT 292.93 394.70 Td (are ) Tj ET Q q 0 0 0 rg BT 305.21 394.70 Td (convertible ) Tj ET Q q 0 0 0 rg BT 343.71 394.70 Td (into ) Tj ET Q q 0 0 0 rg BT 358.68 394.70 Td (shares ) Tj ET Q q 0 0 0 rg BT 381.19 394.70 Td (of ) Tj ET Q q 0 0 0 rg BT 390.37 394.70 Td (Class ) Tj ET Q q 0 0 0 rg BT 409.67 394.70 Td (A) Tj ET Q q 0 0 0 rg BT 415.01 394.70 Td ( ) Tj ET Q q 0 0 0 rg BT 417.53 394.70 Td (common ) Tj ET Q q 0 0 0 rg BT 448.04 394.70 Td (stock ) Tj ET Q q 0 0 0 rg BT 467.45 394.70 Td (on ) Tj ET Q q 0 0 0 rg BT 477.96 394.70 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.03 394.70 Td (one) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.58 394.70 Td (-for) Tj ET Q q 0 0 0 rg BT 507.42 394.70 Td (-) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.08 394.70 Td (one) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 521.63 394.70 Td ( ) Tj ET Q q 0 0 0 rg BT 524.15 394.70 Td (basis ) Tj ET Q q 0 0 0 rg BT 542.67 394.70 Td (for ) Tj ET Q q 0 0 0 rg BT 554.51 394.70 Td (no ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 385.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 84.06 385.10 Td (consideration. ) Tj ET Q q 0 0 0 rg BT 131.73 385.10 Td (Holders ) Tj ET Q q 0 0 0 rg BT 159.63 385.10 Td (of ) Tj ET Q q 0 0 0 rg BT 168.87 385.10 Td (each ) Tj ET Q q 0 0 0 rg BT 186.10 385.10 Td (class ) Tj ET Q q 0 0 0 rg BT 204.22 385.10 Td (of ) Tj ET Q q 0 0 0 rg BT 213.46 385.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 236.02 385.10 Td (are ) Tj ET Q q 0 0 0 rg BT 248.36 385.10 Td (entitled ) Tj ET Q q 0 0 0 rg BT 274.92 385.10 Td (to ) Tj ET Q q 0 0 0 rg BT 283.72 385.10 Td (receive ) Tj ET Q q 0 0 0 rg BT 309.38 385.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 343.06 385.10 Td (and ) Tj ET Q q 0 0 0 rg BT 357.18 385.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 375.76 385.10 Td (liquidation ) Tj ET Q q 0 0 0 rg BT 412.99 385.10 Td (or ) Tj ET Q q 0 0 0 rg BT 422.23 385.10 Td (dissolution ) Tj ET Q q 0 0 0 rg BT 459.92 385.10 Td (are ) Tj ET Q q 0 0 0 rg BT 472.26 385.10 Td (entitled ) Tj ET Q q 0 0 0 rg BT 498.82 385.10 Td (to ) Tj ET Q q 0 0 0 rg BT 507.62 385.10 Td (receive ) Tj ET Q q 0 0 0 rg BT 533.28 385.10 Td (all ) Tj ET Q q 0 0 0 rg BT 543.85 385.10 Td (assets ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 375.50 Td (available ) Tj ET Q q 0 0 0 rg BT 79.88 375.50 Td (for ) Tj ET Q q 0 0 0 rg BT 90.72 375.50 Td (distribution ) Tj ET Q q 0 0 0 rg BT 129.13 375.50 Td (to ) Tj ET Q q 0 0 0 rg BT 136.86 375.50 Td (shareholders. ) Tj ET Q q 0 0 0 rg BT 180.80 375.50 Td (Under ) Tj ET Q q 0 0 0 rg BT 202.30 375.50 Td (our ) Tj ET Q q 0 0 0 rg BT 214.48 375.50 Td (bye-laws, ) Tj ET Q q 0 0 0 rg BT 246.87 375.50 Td (the ) Tj ET Q q 0 0 0 rg BT 258.16 375.50 Td (holders ) Tj ET Q q 0 0 0 rg BT 283.22 375.50 Td (of ) Tj ET Q q 0 0 0 rg BT 291.39 375.50 Td (each ) Tj ET Q q 0 0 0 rg BT 307.56 375.50 Td (class ) Tj ET Q q 0 0 0 rg BT 324.62 375.50 Td (have ) Tj ET Q q 0 0 0 rg BT 341.23 375.50 Td (no ) Tj ET Q q 0 0 0 rg BT 350.75 375.50 Td (preemptive ) Tj ET Q q 0 0 0 rg BT 388.24 375.50 Td (or ) Tj ET Q q 0 0 0 rg BT 396.42 375.50 Td (other ) Tj ET Q q 0 0 0 rg BT 414.37 375.50 Td (subscription ) Tj ET Q q 0 0 0 rg BT 454.99 375.50 Td (rights ) Tj ET Q q 0 0 0 rg BT 474.72 375.50 Td (and ) Tj ET Q q 0 0 0 rg BT 487.79 375.50 Td (there ) Tj ET Q q 0 0 0 rg BT 505.29 375.50 Td (are ) Tj ET Q q 0 0 0 rg BT 516.56 375.50 Td (no ) Tj ET Q q 0 0 0 rg BT 526.07 375.50 Td (redemption ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 365.90 Td (or ) Tj ET Q q 0 0 0 rg BT 58.16 365.90 Td (sinking ) Tj ET Q q 0 0 0 rg BT 83.72 365.90 Td (fund ) Tj ET Q q 0 0 0 rg BT 100.39 365.90 Td (provisions ) Tj ET Q q 0 0 0 rg BT 135.72 365.90 Td (with ) Tj ET Q q 0 0 0 rg BT 151.95 365.90 Td (respect ) Tj ET Q q 0 0 0 rg BT 176.60 365.90 Td (to ) Tj ET Q q 0 0 0 rg BT 184.82 365.90 Td (such ) Tj ET Q q 0 0 0 rg BT 201.48 365.90 Td (shares.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 350.30 Td (There ) Tj ET Q q 0 0 0 rg BT 70.10 350.30 Td (were ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.59 350.30 Td (135.3 ) Tj ET Q q 0 0 0 rg BT 107.54 350.30 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.66 350.30 Td ( ) Tj ET Q q 0 0 0 rg BT 132.61 350.30 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.11 350.30 Td (134.8 ) Tj ET Q q 0 0 0 rg BT 166.05 350.30 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 189.17 350.30 Td ( ) Tj ET Q q 0 0 0 rg BT 191.12 350.30 Td (shares ) Tj ET Q q 0 0 0 rg BT 213.06 350.30 Td (of ) Tj ET Q q 0 0 0 rg BT 221.67 350.30 Td (Class ) Tj ET Q q 0 0 0 rg BT 240.53 350.30 Td (A) Tj ET Q q 0 0 0 rg BT 245.86 350.30 Td ( ) Tj ET Q q 0 0 0 rg BT 247.81 350.30 Td (common ) Tj ET Q q 0 0 0 rg BT 277.76 350.30 Td (stock ) Tj ET Q q 0 0 0 rg BT 296.59 350.30 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 335.87 350.30 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.60 350.30 Td (December31, ) Tj ET Q q 0 0 0 rg BT 390.41 350.30 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.41 350.30 Td ( ) Tj ET Q q 0 0 0 rg BT 408.36 350.30 Td (and ) Tj ET Q q 0 0 0 rg BT 421.86 350.30 Td (2013, ) Tj ET Q q 0 0 0 rg BT 441.81 350.30 Td (respectively) Tj ET Q q 0 0 0 rg BT 479.94 350.30 Td (, ) Tj ET Q q 0 0 0 rg BT 483.89 350.30 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.39 350.30 Td (no) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.39 350.30 Td ( ) Tj ET Q q 0 0 0 rg BT 507.34 350.30 Td (shares ) Tj ET Q q 0 0 0 rg BT 529.28 350.30 Td (of ) Tj ET Q q 0 0 0 rg BT 537.89 350.30 Td (Class ) Tj ET Q q 0 0 0 rg BT 557.18 350.30 Td (B ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 340.70 Td (common ) Tj ET Q q 0 0 0 rg BT 79.50 340.70 Td (stock ) Tj ET Q q 0 0 0 rg BT 98.38 340.70 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 137.71 340.70 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 145.49 340.70 Td (December31, ) Tj ET Q q 0 0 0 rg BT 192.36 340.70 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.36 340.70 Td ( ) Tj ET Q q 0 0 0 rg BT 210.36 340.70 Td (and ) Tj ET Q q 0 0 0 rg BT 223.91 340.70 Td (2013.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 325.10 Td (As ) Tj ET Q q 0 0 0 rg BT 60.49 325.10 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.37 325.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 115.34 325.10 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 131.34 325.10 Td (, ) Tj ET Q q 0 0 0 rg BT 135.29 325.10 Td (TW) Tj ET Q q 0 0 0 rg BT 147.58 325.10 Td ( ) Tj ET Q q 0 0 0 rg BT 149.68 325.10 Td (Investor ) Tj ET Q q 0 0 0 rg BT 178.00 325.10 Td (owns ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 196.99 325.10 Td (45.4%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 217.65 325.10 Td ( ) Tj ET Q q 0 0 0 rg BT 219.75 325.10 Td (of ) Tj ET Q q 0 0 0 rg BT 228.52 325.10 Td (the ) Tj ET Q q 0 0 0 rg BT 240.40 325.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 279.83 325.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 301.92 325.10 Td (of ) Tj ET Q q 0 0 0 rg BT 310.69 325.10 Td (Class ) Tj ET Q q 0 0 0 rg BT 329.66 325.10 Td (A) Tj ET Q q 0 0 0 rg BT 335.00 325.10 Td ( ) Tj ET Q q 0 0 0 rg BT 337.10 325.10 Td (common ) Tj ET Q q 0 0 0 rg BT 367.20 325.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 386.19 325.10 Td (and ) Tj ET Q q 0 0 0 rg BT 399.84 325.10 Td (has ) Tj ET Q q 0 0 0 rg BT 412.60 325.10 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.26 325.10 Td (49.6%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.92 325.10 Td ( ) Tj ET Q q 0 0 0 rg BT 441.02 325.10 Td (voting ) Tj ET Q q 0 0 0 rg BT 463.57 325.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 489.22 325.10 Td (in ) Tj ET Q q 0 0 0 rg BT 497.54 325.10 Td (the ) Tj ET Q q 0 0 0 rg BT 509.42 325.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 542.63 325.10 Td (due ) Tj ET Q q 0 0 0 rg BT 556.28 325.10 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 315.50 Td (its ) Tj ET Q q 0 0 0 rg BT 59.06 315.50 Td (ownership ) Tj ET Q q 0 0 0 rg BT 94.39 315.50 Td (of ) Tj ET Q q 0 0 0 rg BT 103.05 315.50 Td (the ) Tj ET Q q 0 0 0 rg BT 114.82 315.50 Td (Series ) Tj ET Q q 0 0 0 rg BT 135.93 315.50 Td (A) Tj ET Q q 0 0 0 rg BT 141.27 315.50 Td ( ) Tj ET Q q 0 0 0 rg BT 143.27 315.50 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 175.03 315.50 Td (Share.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 296.90 Td (Common ) Tj ET Q q 0 0 0 rg BT 80.39 296.90 Td (Stock ) Tj ET Q q 0 0 0 rg BT 99.71 296.90 Td (W) Tj ET Q q 0 0 0 rg BT 105.64 296.90 Td (arrants) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 281.30 Td (On ) Tj ET Q q 0 0 0 rg BT 61.23 281.30 Td (May ) Tj ET Q q 0 0 0 rg BT 77.85 281.30 Td (2, ) Tj ET Q q 0 0 0 rg BT 85.81 281.30 Td (2014, ) Tj ET Q q 0 0 0 rg BT 105.77 281.30 Td (we ) Tj ET Q q 0 0 0 rg BT 117.05 281.30 Td (issued ) Tj ET Q q 0 0 0 rg BT 139.01 281.30 Td (Unit ) Tj ET Q q 0 0 0 rg BT 155.04 281.30 Td (W) Tj ET Q q 0 0 0 rg BT 161.95 281.30 Td (arrants ) Tj ET Q q 0 0 0 rg BT 185.68 281.30 Td (and ) Tj ET Q q 0 0 0 rg BT 199.18 281.30 Td (the ) Tj ET Q q 0 0 0 rg BT 210.91 281.30 Td (Initial ) Tj ET Q q 0 0 0 rg BT 231.83 281.30 Td (W) Tj ET Q q 0 0 0 rg BT 238.74 281.30 Td (arrants ) Tj ET Q q 0 0 0 rg BT 262.46 281.30 Td (to ) Tj ET Q q 0 0 0 rg BT 270.64 281.30 Td (purchase ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.03 281.30 Td (1) Tj ET Q q 0 0 0 rg BT 304.73 281.30 Td (14,000,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.73 281.30 Td ( ) Tj ET Q q 0 0 0 rg BT 342.69 281.30 Td (shares ) Tj ET Q q 0 0 0 rg BT 364.64 281.30 Td (of ) Tj ET Q q 0 0 0 rg BT 373.26 281.30 Td (Class ) Tj ET Q q 0 0 0 rg BT 392.12 281.30 Td (A) Tj ET Q q 0 0 0 rg BT 397.45 281.30 Td ( ) Tj ET Q q 0 0 0 rg BT 399.41 281.30 Td (common ) Tj ET Q q 0 0 0 rg BT 429.36 281.30 Td (stock ) Tj ET Q q 0 0 0 rg BT 448.20 281.30 Td (at ) Tj ET Q q 0 0 0 rg BT 455.93 281.30 Td (an ) Tj ET Q q 0 0 0 rg BT 465.44 281.30 Td (exercise ) Tj ET Q q 0 0 0 rg BT 493.60 281.30 Td (price ) Tj ET Q q 0 0 0 rg BT 511.54 281.30 Td (of ) Tj ET Q q 0 0 0 rg BT 520.16 281.30 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.35 281.30 Td (1.00) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.35 281.30 Td ( ) Tj ET Q q 0 0 0 rg BT 552.30 281.30 Td (per ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 271.70 Td (share, ) Tj ET Q q 0 0 0 rg BT 70.20 271.70 Td (generally ) Tj ET Q q 0 0 0 rg BT 101.78 271.70 Td (exercisable ) Tj ET Q q 0 0 0 rg BT 139.58 271.70 Td (from ) Tj ET Q q 0 0 0 rg BT 156.95 271.70 Td (the ) Tj ET Q q 0 0 0 rg BT 168.54 271.70 Td (second ) Tj ET Q q 0 0 0 rg BT 192.57 271.70 Td (anniversary ) Tj ET Q q 0 0 0 rg BT 231.71 271.70 Td (of ) Tj ET Q q 0 0 0 rg BT 240.19 271.70 Td (the ) Tj ET Q q 0 0 0 rg BT 251.78 271.70 Td (issue ) Tj ET Q q 0 0 0 rg BT 269.60 271.70 Td (date ) Tj ET Q q 0 0 0 rg BT 284.75 271.70 Td (to ) Tj ET Q q 0 0 0 rg BT 292.79 271.70 Td (the ) Tj ET Q q 0 0 0 rg BT 304.38 271.70 Td (fourth ) Tj ET Q q 0 0 0 rg BT 325.75 271.70 Td (anniversary ) Tj ET Q q 0 0 0 rg BT 364.89 271.70 Td (of ) Tj ET Q q 0 0 0 rg BT 373.37 271.70 Td (the ) Tj ET Q q 0 0 0 rg BT 384.96 271.70 Td (issue ) Tj ET Q q 0 0 0 rg BT 402.78 271.70 Td (date. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 419.93 271.70 Td (100,926,996) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 459.93 271.70 Td ( ) Tj ET Q q 0 0 0 rg BT 461.75 271.70 Td (\(approximately ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 512.44 271.70 Td (88.5%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.10 271.70 Td (\) ) Tj ET Q q 0 0 0 rg BT 537.58 271.70 Td (of ) Tj ET Q q 0 0 0 rg BT 546.07 271.70 Td (these ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 262.10 Td (warrants ) Tj ET Q q 0 0 0 rg BT 78.95 262.10 Td (are ) Tj ET Q q 0 0 0 rg BT 90.62 262.10 Td (held ) Tj ET Q q 0 0 0 rg BT 106.30 262.10 Td (by ) Tj ET Q q 0 0 0 rg BT 116.07 262.10 Td (T) Tj ET Q q 0 0 0 rg BT 120.68 262.10 Td (ime ) Tj ET Q q 0 0 0 rg BT 134.44 262.10 Td (W) Tj ET Q q 0 0 0 rg BT 141.35 262.10 Td (arner ) Tj ET Q q 0 0 0 rg BT 159.69 262.10 Td (and ) Tj ET Q q 0 0 0 rg BT 173.01 262.10 Td (TW) Tj ET Q q 0 0 0 rg BT 185.30 262.10 Td ( ) Tj ET Q q 0 0 0 rg BT 187.21 262.10 Td (Investor) Tj ET Q q 0 0 0 rg BT 212.99 262.10 Td (. ) Tj ET Q q 0 0 0 rg BT 216.75 262.10 Td (T) Tj ET Q q 0 0 0 rg BT 221.36 262.10 Td (ime ) Tj ET Q q 0 0 0 rg BT 235.13 262.10 Td (W) Tj ET Q q 0 0 0 rg BT 242.04 262.10 Td (arner ) Tj ET Q q 0 0 0 rg BT 260.37 262.10 Td (also ) Tj ET Q q 0 0 0 rg BT 275.17 262.10 Td (holds ) Tj ET Q q 0 0 0 rg BT 294.41 262.10 Td (the ) Tj ET Q q 0 0 0 rg BT 306.09 262.10 Td (right ) Tj ET Q q 0 0 0 rg BT 323.11 262.10 Td (to ) Tj ET Q q 0 0 0 rg BT 331.24 262.10 Td (exercise ) Tj ET Q q 0 0 0 rg BT 359.35 262.10 Td (such ) Tj ET Q q 0 0 0 rg BT 375.92 262.10 Td (warrants ) Tj ET Q q 0 0 0 rg BT 405.37 262.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 422.83 262.10 Td (to ) Tj ET Q q 0 0 0 rg BT 430.96 262.10 Td (the ) Tj ET Q q 0 0 0 rg BT 442.64 262.10 Td (second ) Tj ET Q q 0 0 0 rg BT 466.76 262.10 Td (anniversary) Tj ET Q q 0 0 0 rg BT 503.56 262.10 Td (, ) Tj ET Q q 0 0 0 rg BT 507.46 262.10 Td (at ) Tj ET Q q 0 0 0 rg BT 515.14 262.10 Td (such ) Tj ET Q q 0 0 0 rg BT 531.72 262.10 Td (times ) Tj ET Q q 0 0 0 rg BT 550.96 262.10 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 252.50 Td (in ) Tj ET Q q 0 0 0 rg BT 57.64 252.50 Td (such ) Tj ET Q q 0 0 0 rg BT 74.21 252.50 Td (amounts ) Tj ET Q q 0 0 0 rg BT 103.24 252.50 Td (as ) Tj ET Q q 0 0 0 rg BT 111.82 252.50 Td (would ) Tj ET Q q 0 0 0 rg BT 133.73 252.50 Td (allow ) Tj ET Q q 0 0 0 rg BT 153.28 252.50 Td (T) Tj ET Q q 0 0 0 rg BT 157.89 252.50 Td (ime ) Tj ET Q q 0 0 0 rg BT 171.66 252.50 Td (W) Tj ET Q q 0 0 0 rg BT 178.57 252.50 Td (arner ) Tj ET Q q 0 0 0 rg BT 196.91 252.50 Td (to ) Tj ET Q q 0 0 0 rg BT 205.05 252.50 Td (own ) Tj ET Q q 0 0 0 rg BT 220.74 252.50 Td (up ) Tj ET Q q 0 0 0 rg BT 230.65 252.50 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 238.79 252.50 Td (49.9%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 259.45 252.50 Td ( ) Tj ET Q q 0 0 0 rg BT 261.37 252.50 Td (of ) Tj ET Q q 0 0 0 rg BT 269.95 252.50 Td (the ) Tj ET Q q 0 0 0 rg BT 281.63 252.50 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 320.88 252.50 Td (shares ) Tj ET Q q 0 0 0 rg BT 342.79 252.50 Td (of ) Tj ET Q q 0 0 0 rg BT 351.36 252.50 Td (the ) Tj ET Q q 0 0 0 rg BT 363.05 252.50 Td (Class ) Tj ET Q q 0 0 0 rg BT 381.88 252.50 Td (A) Tj ET Q q 0 0 0 rg BT 387.22 252.50 Td ( ) Tj ET Q q 0 0 0 rg BT 389.13 252.50 Td (Common ) Tj ET Q q 0 0 0 rg BT 420.82 252.50 Td (Stock ) Tj ET Q q 0 0 0 rg BT 440.96 252.50 Td (of ) Tj ET Q q 0 0 0 rg BT 449.54 252.50 Td (the ) Tj ET Q q 0 0 0 rg BT 461.23 252.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 494.25 252.50 Td (\(including ) Tj ET Q q 0 0 0 rg BT 529.05 252.50 Td (any ) Tj ET Q q 0 0 0 rg BT 542.51 252.50 Td (shares ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 242.90 Td (attributed ) Tj ET Q q 0 0 0 rg BT 82.16 242.90 Td (to ) Tj ET Q q 0 0 0 rg BT 90.38 242.90 Td (it ) Tj ET Q q 0 0 0 rg BT 96.82 242.90 Td (as ) Tj ET Q q 0 0 0 rg BT 105.49 242.90 Td (part ) Tj ET Q q 0 0 0 rg BT 119.93 242.90 Td (of ) Tj ET Q q 0 0 0 rg BT 128.59 242.90 Td (a ) Tj ET Q q 0 0 0 rg BT 134.14 242.90 Td (group ) Tj ET Q q 0 0 0 rg BT 154.80 242.90 Td (under ) Tj ET Q q 0 0 0 rg BT 175.02 242.90 Td (Section ) Tj ET Q q 0 0 0 rg BT 201.02 242.90 Td (12\(d\)\(3\) ) Tj ET Q q 0 0 0 rg BT 229.67 242.90 Td (of ) Tj ET Q q 0 0 0 rg BT 238.34 242.90 Td (the ) Tj ET Q q 0 0 0 rg BT 250.11 242.90 Td (Securities ) Tj ET Q q 0 0 0 rg BT 283.66 242.90 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 316.75 242.90 Td (Act\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 227.30 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 227.30 Td (e ) Tj ET Q q 0 0 0 rg BT 62.66 227.30 Td (utilized ) Tj ET Q q 0 0 0 rg BT 89.36 227.30 Td (a ) Tj ET Q q 0 0 0 rg BT 95.61 227.30 Td (Black-Scholes ) Tj ET Q q 0 0 0 rg BT 144.52 227.30 Td (valuation ) Tj ET Q q 0 0 0 rg BT 176.99 227.30 Td (model ) Tj ET Q q 0 0 0 rg BT 199.69 227.30 Td (to ) Tj ET Q q 0 0 0 rg BT 208.61 227.30 Td (determine ) Tj ET Q q 0 0 0 rg BT 243.30 227.30 Td (the ) Tj ET Q q 0 0 0 rg BT 255.77 227.30 Td (fair ) Tj ET Q q 0 0 0 rg BT 269.57 227.30 Td (value ) Tj ET Q q 0 0 0 rg BT 289.60 227.30 Td (of ) Tj ET Q q 0 0 0 rg BT 298.96 227.30 Td (each ) Tj ET Q q 0 0 0 rg BT 316.32 227.30 Td (warrant.The ) Tj ET Q q 0 0 0 rg BT 357.89 227.30 Td (Black-Scholes ) Tj ET Q q 0 0 0 rg BT 406.80 227.30 Td (valuation ) Tj ET Q q 0 0 0 rg BT 439.27 227.30 Td (model ) Tj ET Q q 0 0 0 rg BT 461.97 227.30 Td (uses ) Tj ET Q q 0 0 0 rg BT 478.45 227.30 Td (subjective ) Tj ET Q q 0 0 0 rg BT 513.58 227.30 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 555.84 227.30 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 217.70 Td (expected ) Tj ET Q q 0 0 0 rg BT 79.95 217.70 Td (volatility) Tj ET Q q 0 0 0 rg BT 108.32 217.70 Td (, ) Tj ET Q q 0 0 0 rg BT 112.35 217.70 Td (risk-free ) Tj ET Q q 0 0 0 rg BT 141.47 217.70 Td (interest ) Tj ET Q q 0 0 0 rg BT 167.04 217.70 Td (rates, ) Tj ET Q q 0 0 0 rg BT 186.17 217.70 Td (the ) Tj ET Q q 0 0 0 rg BT 197.97 217.70 Td (expected ) Tj ET Q q 0 0 0 rg BT 228.43 217.70 Td (term ) Tj ET Q q 0 0 0 rg BT 245.11 217.70 Td (of ) Tj ET Q q 0 0 0 rg BT 253.80 217.70 Td (options ) Tj ET Q q 0 0 0 rg BT 279.39 217.70 Td (granted, ) Tj ET Q q 0 0 0 rg BT 307.41 217.70 Td (and ) Tj ET Q q 0 0 0 rg BT 320.98 217.70 Td (expected ) Tj ET Q q 0 0 0 rg BT 351.44 217.70 Td (rates ) Tj ET Q q 0 0 0 rg BT 368.57 217.70 Td (of ) Tj ET Q q 0 0 0 rg BT 377.26 217.70 Td (dividends. ) Tj ET Q q 0 0 0 rg BT 412.39 217.70 Td (Changes ) Tj ET Q q 0 0 0 rg BT 441.97 217.70 Td (in ) Tj ET Q q 0 0 0 rg BT 450.22 217.70 Td (these ) Tj ET Q q 0 0 0 rg BT 468.69 217.70 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 510.27 217.70 Td (could ) Tj ET Q q 0 0 0 rg BT 530.07 217.70 Td (materially ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 208.10 Td (af) Tj ET Q q 0 0 0 rg BT 55.57 208.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 69.50 208.10 Td (the ) Tj ET Q q 0 0 0 rg BT 81.21 208.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 113.81 208.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 126.85 208.10 Td (value.) Tj ET Q q 0 0 0 rg BT 148.03 208.10 Td (The ) Tj ET Q q 0 0 0 rg BT 162.40 208.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 195.45 208.10 Td (determines ) Tj ET Q q 0 0 0 rg BT 232.49 208.10 Td (the ) Tj ET Q q 0 0 0 rg BT 244.20 208.10 Td (volatility) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 273.09 208.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 275.09 208.10 Td (assumption ) Tj ET Q q 0 0 0 rg BT 313.47 208.10 Td (for ) Tj ET Q q 0 0 0 rg BT 324.74 208.10 Td (these ) Tj ET Q q 0 0 0 rg BT 343.12 208.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 361.95 208.10 Td (options ) Tj ET Q q 0 0 0 rg BT 387.44 208.10 Td (using ) Tj ET Q q 0 0 0 rg BT 406.72 208.10 Td (historical ) Tj ET Q q 0 0 0 rg BT 438.43 208.10 Td (volatilities ) Tj ET Q q 0 0 0 rg BT 474.14 208.10 Td (data ) Tj ET Q q 0 0 0 rg BT 489.40 208.10 Td (from ) Tj ET Q q 0 0 0 rg BT 506.89 208.10 Td (its ) Tj ET Q q 0 0 0 rg BT 516.39 208.10 Td (traded ) Tj ET Q q 0 0 0 rg BT 538.32 208.10 Td (Class ) Tj ET Q q 0 0 0 rg BT 557.17 208.10 Td (A) Tj ET Q q 0 0 0 rg BT 562.50 208.10 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 198.50 Td (common ) Tj ET Q q 0 0 0 rg BT 79.20 198.50 Td (stock. ) Tj ET Q q 0 0 0 rg BT 99.66 198.50 Td (The ) Tj ET Q q 0 0 0 rg BT 113.80 198.50 Td (expected ) Tj ET Q q 0 0 0 rg BT 143.92 198.50 Td (term ) Tj ET Q q 0 0 0 rg BT 160.28 198.50 Td (is ) Tj ET Q q 0 0 0 rg BT 167.32 198.50 Td (estimated ) Tj ET Q q 0 0 0 rg BT 199.68 198.50 Td (based ) Tj ET Q q 0 0 0 rg BT 219.59 198.50 Td (on ) Tj ET Q q 0 0 0 rg BT 229.29 198.50 Td (management's ) Tj ET Q q 0 0 0 rg BT 276.42 198.50 Td (expectation ) Tj ET Q q 0 0 0 rg BT 314.99 198.50 Td (of ) Tj ET Q q 0 0 0 rg BT 323.35 198.50 Td (future ) Tj ET Q q 0 0 0 rg BT 344.16 198.50 Td (exercises. ) Tj ET Q q 0 0 0 rg BT 377.05 198.50 Td (The ) Tj ET Q q 0 0 0 rg BT 391.19 198.50 Td (risk-free ) Tj ET Q q 0 0 0 rg BT 419.98 198.50 Td (rate ) Tj ET Q q 0 0 0 rg BT 433.67 198.50 Td (assumed ) Tj ET Q q 0 0 0 rg BT 462.92 198.50 Td (in ) Tj ET Q q 0 0 0 rg BT 470.84 198.50 Td (valuing ) Tj ET Q q 0 0 0 rg BT 496.54 198.50 Td (the ) Tj ET Q q 0 0 0 rg BT 508.01 198.50 Td (warrants ) Tj ET Q q 0 0 0 rg BT 537.26 198.50 Td (is ) Tj ET Q q 0 0 0 rg BT 544.29 198.50 Td (based ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 188.90 Td (on ) Tj ET Q q 0 0 0 rg BT 59.57 188.90 Td (the ) Tj ET Q q 0 0 0 rg BT 71.40 188.90 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 87.55 188.90 Td (T) Tj ET Q q 0 0 0 rg BT 92.15 188.90 Td (reasury ) Tj ET Q q 0 0 0 rg BT 117.76 188.90 Td (yield ) Tj ET Q q 0 0 0 rg BT 135.82 188.90 Td (curve ) Tj ET Q q 0 0 0 rg BT 155.65 188.90 Td (at ) Tj ET Q q 0 0 0 rg BT 163.49 188.90 Td (the ) Tj ET Q q 0 0 0 rg BT 175.33 188.90 Td (grant ) Tj ET Q q 0 0 0 rg BT 193.83 188.90 Td (date ) Tj ET Q q 0 0 0 rg BT 209.22 188.90 Td (based ) Tj ET Q q 0 0 0 rg BT 229.50 188.90 Td (on ) Tj ET Q q 0 0 0 rg BT 239.57 188.90 Td (the ) Tj ET Q q 0 0 0 rg BT 251.41 188.90 Td (expected ) Tj ET Q q 0 0 0 rg BT 281.90 188.90 Td (term. ) Tj ET Q q 0 0 0 rg BT 300.48 188.90 Td (The ) Tj ET Q q 0 0 0 rg BT 314.98 188.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 348.15 188.90 Td (assumed ) Tj ET Q q 0 0 0 rg BT 377.77 188.90 Td (a ) Tj ET Q q 0 0 0 rg BT 383.39 188.90 Td (dividend ) Tj ET Q q 0 0 0 rg BT 413.45 188.90 Td (rate ) Tj ET Q q 0 0 0 rg BT 427.50 188.90 Td (of ) Tj ET Q q 0 0 0 rg BT 436.23 188.90 Td (zero ) Tj ET Q q 0 0 0 rg BT 452.06 188.90 Td (based ) Tj ET Q q 0 0 0 rg BT 472.34 188.90 Td (on ) Tj ET Q q 0 0 0 rg BT 482.41 188.90 Td (historical ) Tj ET Q q 0 0 0 rg BT 514.24 188.90 Td (experience ) Tj ET Q q 0 0 0 rg BT 550.95 188.90 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 179.30 Td (expected ) Tj ET Q q 0 0 0 rg BT 79.23 179.30 Td (dividends ) Tj ET Q q 0 0 0 rg BT 111.65 179.30 Td (to ) Tj ET Q q 0 0 0 rg BT 119.18 179.30 Td (be ) Tj ET Q q 0 0 0 rg BT 128.04 179.30 Td (issued ) Tj ET Q q 0 0 0 rg BT 149.34 179.30 Td (over ) Tj ET Q q 0 0 0 rg BT 164.86 179.30 Td (the ) Tj ET Q q 0 0 0 rg BT 175.94 179.30 Td (expected ) Tj ET Q q 0 0 0 rg BT 205.68 179.30 Td (term. ) Tj ET Q q 0 0 0 rg BT 223.55 179.30 Td (This ) Tj ET Q q 0 0 0 rg BT 239.08 179.30 Td (measurement ) Tj ET Q q 0 0 0 rg BT 283.03 179.30 Td (of ) Tj ET Q q 0 0 0 rg BT 291.00 179.30 Td (estimated ) Tj ET Q q 0 0 0 rg BT 322.97 179.30 Td (fair ) Tj ET Q q 0 0 0 rg BT 335.37 179.30 Td (value ) Tj ET Q q 0 0 0 rg BT 354.01 179.30 Td (uses ) Tj ET Q q 0 0 0 rg BT 369.09 179.30 Td (Level ) Tj ET Q q 0 0 0 rg BT 388.61 179.30 Td (3 ) Tj ET Q q 0 0 0 rg BT 393.91 179.30 Td (inputs ) Tj ET Q q 0 0 0 rg BT 414.78 179.30 Td (as ) Tj ET Q q 0 0 0 rg BT 422.75 179.30 Td (described ) Tj ET Q q 0 0 0 rg BT 454.71 179.30 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.24 179.30 Td (Note ) Tj ET Q q 0 0 0 rg BT 479.10 179.30 Td (14, ) Tj ET Q q 0 0 0 rg BT 490.40 179.30 Td ("Financial ) Tj ET Q q 0 0 0 rg BT 524.74 179.30 Td (Instruments ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 169.70 Td (and ) Tj ET Q q 0 0 0 rg BT 63.05 169.70 Td (Fair ) Tj ET Q q 0 0 0 rg BT 77.79 169.70 Td (V) Tj ET Q q 0 0 0 rg BT 82.68 169.70 Td (alue ) Tj ET Q q 0 0 0 rg BT 98.01 169.70 Td (Measurements") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 147.93 169.70 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 154.10 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 154.10 Td (e ) Tj ET Q q 0 0 0 rg BT 62.25 154.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 100.53 154.10 Td (the ) Tj ET Q q 0 0 0 rg BT 112.59 154.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 125.98 154.10 Td (value ) Tj ET Q q 0 0 0 rg BT 145.60 154.10 Td (of ) Tj ET Q q 0 0 0 rg BT 154.55 154.10 Td (each ) Tj ET Q q 0 0 0 rg BT 171.50 154.10 Td (warrant ) Tj ET Q q 0 0 0 rg BT 198.22 154.10 Td (was ) Tj ET Q q 0 0 0 rg BT 212.95 154.10 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 229.47 154.10 Td (2.1265) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 251.47 154.10 Td ( ) Tj ET Q q 0 0 0 rg BT 253.76 154.10 Td (at ) Tj ET Q q 0 0 0 rg BT 261.82 154.10 Td (the ) Tj ET Q q 0 0 0 rg BT 273.89 154.10 Td (date ) Tj ET Q q 0 0 0 rg BT 289.50 154.10 Td (of ) Tj ET Q q 0 0 0 rg BT 298.46 154.10 Td (issuance. ) Tj ET Q q 0 0 0 rg BT 329.69 154.10 Td (The ) Tj ET Q q 0 0 0 rg BT 344.41 154.10 Td (warrants ) Tj ET Q q 0 0 0 rg BT 374.25 154.10 Td (are ) Tj ET Q q 0 0 0 rg BT 386.31 154.10 Td (classified ) Tj ET Q q 0 0 0 rg BT 418.81 154.10 Td (in ) Tj ET Q q 0 0 0 rg BT 427.32 154.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 461.60 154.10 Td (paid-in ) Tj ET Q q 0 0 0 rg BT 486.56 154.10 Td (capital, ) Tj ET Q q 0 0 0 rg BT 512.17 154.10 Td (a ) Tj ET Q q 0 0 0 rg BT 518.01 154.10 Td (component ) Tj ET Q q 0 0 0 rg BT 555.85 154.10 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 144.50 Td (equity) Tj ET Q q 0 0 0 rg BT 68.98 144.50 Td (, ) Tj ET Q q 0 0 0 rg BT 73.21 144.50 Td (and ) Tj ET Q q 0 0 0 rg BT 86.99 144.50 Td (are ) Tj ET Q q 0 0 0 rg BT 98.99 144.50 Td (not ) Tj ET Q q 0 0 0 rg BT 111.44 144.50 Td (subject ) Tj ET Q q 0 0 0 rg BT 136.33 144.50 Td (to ) Tj ET Q q 0 0 0 rg BT 144.79 144.50 Td (subsequent ) Tj ET Q q 0 0 0 rg BT 182.57 144.50 Td (revaluation. ) Tj ET Q q 0 0 0 rg BT 222.62 144.50 Td (The ) Tj ET Q q 0 0 0 rg BT 237.29 144.50 Td (fair ) Tj ET Q q 0 0 0 rg BT 250.63 144.50 Td (value ) Tj ET Q q 0 0 0 rg BT 270.18 144.50 Td (of ) Tj ET Q q 0 0 0 rg BT 279.08 144.50 Td (the ) Tj ET Q q 0 0 0 rg BT 291.08 144.50 Td (Initial ) Tj ET Q q 0 0 0 rg BT 312.26 144.50 Td (W) Tj ET Q q 0 0 0 rg BT 319.17 144.50 Td (arrants ) Tj ET Q q 0 0 0 rg BT 343.17 144.50 Td (was ) Tj ET Q q 0 0 0 rg BT 357.84 144.50 Td (accounted ) Tj ET Q q 0 0 0 rg BT 392.50 144.50 Td (for ) Tj ET Q q 0 0 0 rg BT 404.05 144.50 Td (as ) Tj ET Q q 0 0 0 rg BT 412.95 144.50 Td (a ) Tj ET Q q 0 0 0 rg BT 418.73 144.50 Td (discount ) Tj ET Q q 0 0 0 rg BT 448.07 144.50 Td (on ) Tj ET Q q 0 0 0 rg BT 458.30 144.50 Td (the ) Tj ET Q q 0 0 0 rg BT 470.31 144.50 Td (2017 ) Tj ET Q q 0 0 0 rg BT 488.38 144.50 Td (T) Tj ET Q q 0 0 0 rg BT 492.71 144.50 Td (erm ) Tj ET Q q 0 0 0 rg BT 507.38 144.50 Td (Loan ) Tj ET Q q 0 0 0 rg BT 526.05 144.50 Td (and ) Tj ET Q q 0 0 0 rg BT 539.83 144.50 Td (as ) Tj ET Q q 0 0 0 rg BT 548.72 144.50 Td (debt ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 134.90 Td (issuance ) Tj ET Q q 0 0 0 rg BT 78.97 134.90 Td (costs ) Tj ET Q q 0 0 0 rg BT 97.33 134.90 Td (for ) Tj ET Q q 0 0 0 rg BT 109.02 134.90 Td (the ) Tj ET Q q 0 0 0 rg BT 121.16 134.90 Td (2017 ) Tj ET Q q 0 0 0 rg BT 139.52 134.90 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 175.22 134.90 Td (Credit ) Tj ET Q q 0 0 0 rg BT 197.58 134.90 Td (Facility) Tj ET Q q 0 0 0 rg BT 221.50 134.90 Td (. ) Tj ET Q q 0 0 0 rg BT 225.70 134.90 Td (The ) Tj ET Q q 0 0 0 rg BT 240.50 134.90 Td (fair ) Tj ET Q q 0 0 0 rg BT 253.96 134.90 Td (value ) Tj ET Q q 0 0 0 rg BT 273.65 134.90 Td (of ) Tj ET Q q 0 0 0 rg BT 282.68 134.90 Td (the ) Tj ET Q q 0 0 0 rg BT 294.82 134.90 Td (Unit ) Tj ET Q q 0 0 0 rg BT 311.23 134.90 Td (W) Tj ET Q q 0 0 0 rg BT 318.14 134.90 Td (arrants ) Tj ET Q q 0 0 0 rg BT 342.27 134.90 Td (was ) Tj ET Q q 0 0 0 rg BT 357.08 134.90 Td (accounted ) Tj ET Q q 0 0 0 rg BT 391.87 134.90 Td (for ) Tj ET Q q 0 0 0 rg BT 403.56 134.90 Td (as ) Tj ET Q q 0 0 0 rg BT 412.59 134.90 Td (a ) Tj ET Q q 0 0 0 rg BT 418.51 134.90 Td (discount ) Tj ET Q q 0 0 0 rg BT 447.98 134.90 Td (to ) Tj ET Q q 0 0 0 rg BT 456.57 134.90 Td (the ) Tj ET Q q 0 0 0 rg BT 468.70 134.90 Td (2017 ) Tj ET Q q 0 0 0 rg BT 487.07 134.90 Td (PIK ) Tj ET Q q 0 0 0 rg BT 502.32 134.90 Td (Notes ) Tj ET Q q 0 0 0 rg BT 523.35 134.90 Td (\(see ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.59 134.90 Td (Note ) Tj ET Q q 0 0 0 rg BT 556.51 134.90 Td (5, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 125.30 Td ("Long-term ) Tj ET Q q 0 0 0 rg BT 88.98 125.30 Td (Debt ) Tj ET Q q 0 0 0 rg BT 106.53 125.30 Td (and ) Tj ET Q q 0 0 0 rg BT 120.08 125.30 Td (Other ) Tj ET Q q 0 0 0 rg BT 140.29 125.30 Td (Financing ) Tj ET Q q 0 0 0 rg BT 173.85 125.30 Td (Arrangements") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 222.43 125.30 Td (\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 109.70 Td (As ) Tj ET Q q 0 0 0 rg BT 60.33 109.70 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.03 109.70 Td (December31, ) Tj ET Q q 0 0 0 rg BT 114.83 109.70 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.83 109.70 Td (, ) Tj ET Q q 0 0 0 rg BT 134.77 109.70 Td (warrants ) Tj ET Q q 0 0 0 rg BT 164.25 109.70 Td (to ) Tj ET Q q 0 0 0 rg BT 172.40 109.70 Td (purchase ) Tj ET Q q 0 0 0 rg BT 202.77 109.70 Td (up ) Tj ET Q q 0 0 0 rg BT 212.70 109.70 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 220.86 109.70 Td (850,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 246.86 109.70 Td ( ) Tj ET Q q 0 0 0 rg BT 248.79 109.70 Td (shares ) Tj ET Q q 0 0 0 rg BT 270.72 109.70 Td (of ) Tj ET Q q 0 0 0 rg BT 279.32 109.70 Td (Class ) Tj ET Q q 0 0 0 rg BT 298.16 109.70 Td (A) Tj ET Q q 0 0 0 rg BT 303.50 109.70 Td ( ) Tj ET Q q 0 0 0 rg BT 305.43 109.70 Td (common ) Tj ET Q q 0 0 0 rg BT 335.37 109.70 Td (stock ) Tj ET Q q 0 0 0 rg BT 354.19 109.70 Td (for ) Tj ET Q q 0 0 0 rg BT 365.45 109.70 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.93 109.70 Td (six) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.27 109.70 Td (-year ) Tj ET Q q 0 0 0 rg BT 398.63 109.70 Td (period ) Tj ET Q q 0 0 0 rg BT 421.01 109.70 Td (terminating ) Tj ET Q q 0 0 0 rg BT 459.82 109.70 Td (December ) Tj ET Q q 0 0 0 rg BT 494.62 109.70 Td (2015 ) Tj ET Q q 0 0 0 rg BT 512.56 109.70 Td (at ) Tj ET Q q 0 0 0 rg BT 520.26 109.70 Td (a ) Tj ET Q q 0 0 0 rg BT 525.75 109.70 Td (price ) Tj ET Q q 0 0 0 rg BT 543.67 109.70 Td (of ) Tj ET Q q 0 0 0 rg BT 552.27 109.70 Td (US) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 100.10 Td ($ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 55.50 100.10 Td (21.75) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 73.50 100.10 Td ( ) Tj ET Q q 0 0 0 rg BT 75.50 100.10 Td (per ) Tj ET Q q 0 0 0 rg BT 87.71 100.10 Td (share ) Tj ET Q q 0 0 0 rg BT 106.59 100.10 Td (were ) Tj ET Q q 0 0 0 rg BT 124.14 100.10 Td (also ) Tj ET Q q 0 0 0 rg BT 139.02 100.10 Td (outstanding.) Tj ET Q endstream endobj 141 0 obj <>] /Rotate 0 /Contents 142 0 R>> endobj 142 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (68) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 723.60 Td (14. ) Tj ET Q q 0 0 0 rg BT 67.50 723.60 Td (FINANCIAL) Tj ET Q q 0 0 0 rg BT 112.39 723.60 Td ( ) Tj ET Q q 0 0 0 rg BT 114.39 723.60 Td (INSTRUMENTS ) Tj ET Q q 0 0 0 rg BT 174.63 723.60 Td (AND ) Tj ET Q q 0 0 0 rg BT 193.96 723.60 Td (F) Tj ET Q q 0 0 0 rg BT 198.26 723.60 Td (AIR ) Tj ET Q q 0 0 0 rg BT 214.78 723.60 Td (V) Tj ET Q q 0 0 0 rg BT 219.53 723.60 Td (ALUE ) Tj ET Q q 0 0 0 rg BT 243.75 723.60 Td (MEASUREMENTS) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 708.00 Td (ASC ) Tj ET Q q 0 0 0 rg BT 67.05 708.00 Td (820, ) Tj ET Q q 0 0 0 rg BT 83.04 708.00 Td (Fair ) Tj ET Q q 0 0 0 rg BT 101.32 708.00 Td (V) Tj ET Q q 0 0 0 rg BT 106.21 708.00 Td (alue ) Tj ET Q q 0 0 0 rg BT 121.52 708.00 Td (Measurements ) Tj ET Q q 0 0 0 rg BT 170.17 708.00 Td (and ) Tj ET Q q 0 0 0 rg BT 183.70 708.00 Td (Disclosure, ) Tj ET Q q 0 0 0 rg BT 225.46 708.00 Td (establishes ) Tj ET Q q 0 0 0 rg BT 262.11 708.00 Td (a ) Tj ET Q q 0 0 0 rg BT 267.65 708.00 Td (hierarchy ) Tj ET Q q 0 0 0 rg BT 299.84 708.00 Td (that ) Tj ET Q q 0 0 0 rg BT 313.82 708.00 Td (prioritizes ) Tj ET Q q 0 0 0 rg BT 348.24 708.00 Td (the ) Tj ET Q q 0 0 0 rg BT 360.00 708.00 Td (inputs ) Tj ET Q q 0 0 0 rg BT 381.55 708.00 Td (to ) Tj ET Q q 0 0 0 rg BT 389.76 708.00 Td (those ) Tj ET Q q 0 0 0 rg BT 408.64 708.00 Td (valuation ) Tj ET Q q 0 0 0 rg BT 440.40 708.00 Td (techniques ) Tj ET Q q 0 0 0 rg BT 476.59 708.00 Td (used ) Tj ET Q q 0 0 0 rg BT 493.25 708.00 Td (to ) Tj ET Q q 0 0 0 rg BT 501.46 708.00 Td (measure ) Tj ET Q q 0 0 0 rg BT 530.10 708.00 Td (fair ) Tj ET Q q 0 0 0 rg BT 543.19 708.00 Td (value. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 698.40 Td (The ) Tj ET Q q 0 0 0 rg BT 64.40 698.40 Td (hierarchy ) Tj ET Q q 0 0 0 rg BT 97.07 698.40 Td (gives ) Tj ET Q q 0 0 0 rg BT 116.42 698.40 Td (the ) Tj ET Q q 0 0 0 rg BT 128.66 698.40 Td (highest ) Tj ET Q q 0 0 0 rg BT 154.24 698.40 Td (priority ) Tj ET Q q 0 0 0 rg BT 180.70 698.40 Td (to ) Tj ET Q q 0 0 0 rg BT 189.39 698.40 Td (unadjusted ) Tj ET Q q 0 0 0 rg BT 226.52 698.40 Td (quoted ) Tj ET Q q 0 0 0 rg BT 250.75 698.40 Td (prices ) Tj ET Q q 0 0 0 rg BT 272.32 698.40 Td (in ) Tj ET Q q 0 0 0 rg BT 281.01 698.40 Td (active ) Tj ET Q q 0 0 0 rg BT 302.57 698.40 Td (markets ) Tj ET Q q 0 0 0 rg BT 330.36 698.40 Td (for ) Tj ET Q q 0 0 0 rg BT 342.16 698.40 Td (identical ) Tj ET Q q 0 0 0 rg BT 372.17 698.40 Td (assets ) Tj ET Q q 0 0 0 rg BT 393.30 698.40 Td (or ) Tj ET Q q 0 0 0 rg BT 402.43 698.40 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 434.67 698.40 Td (\(Level ) Tj ET Q q 0 0 0 rg BT 458.01 698.40 Td (1 ) Tj ET Q q 0 0 0 rg BT 464.47 698.40 Td (measurements\) ) Tj ET Q q 0 0 0 rg BT 515.36 698.40 Td (and ) Tj ET Q q 0 0 0 rg BT 529.38 698.40 Td (the ) Tj ET Q q 0 0 0 rg BT 541.62 698.40 Td (lowest ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 688.80 Td (priority ) Tj ET Q q 0 0 0 rg BT 75.50 688.80 Td (to ) Tj ET Q q 0 0 0 rg BT 83.72 688.80 Td (unobservable ) Tj ET Q q 0 0 0 rg BT 128.37 688.80 Td (inputs ) Tj ET Q q 0 0 0 rg BT 149.93 688.80 Td (\(Level ) Tj ET Q q 0 0 0 rg BT 172.80 688.80 Td (3 ) Tj ET Q q 0 0 0 rg BT 178.80 688.80 Td (measurements\). ) Tj ET Q q 0 0 0 rg BT 231.09 688.80 Td (The ) Tj ET Q q 0 0 0 rg BT 245.52 688.80 Td (three ) Tj ET Q q 0 0 0 rg BT 263.51 688.80 Td (levels ) Tj ET Q q 0 0 0 rg BT 284.17 688.80 Td (of ) Tj ET Q q 0 0 0 rg BT 292.84 688.80 Td (the ) Tj ET Q q 0 0 0 rg BT 304.61 688.80 Td (fair ) Tj ET Q q 0 0 0 rg BT 317.71 688.80 Td (value ) Tj ET Q q 0 0 0 rg BT 337.04 688.80 Td (hierarchy ) Tj ET Q q 0 0 0 rg BT 369.24 688.80 Td (are:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 673.20 Td (Basis ) Tj ET Q q 0 0 0 rg BT 68.84 673.20 Td (of ) Tj ET Q q 0 0 0 rg BT 77.50 673.20 Td (Fair ) Tj ET Q q 0 0 0 rg BT 92.24 673.20 Td (V) Tj ET Q q 0 0 0 rg BT 97.13 673.20 Td (alue ) Tj ET Q q 0 0 0 rg BT 112.46 673.20 Td (Measurement) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 660.60 Td (Level ) Tj ET Q q 0 0 0 rg BT 69.71 660.60 Td (1 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 103.50 660.60 Td (Unadjusted ) Tj ET Q q 0 0 0 rg BT 141.94 660.60 Td (quoted ) Tj ET Q q 0 0 0 rg BT 165.71 660.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 186.81 660.60 Td (in ) Tj ET Q q 0 0 0 rg BT 195.04 660.60 Td (active ) Tj ET Q q 0 0 0 rg BT 216.13 660.60 Td (markets ) Tj ET Q q 0 0 0 rg BT 243.46 660.60 Td (that ) Tj ET Q q 0 0 0 rg BT 257.45 660.60 Td (are ) Tj ET Q q 0 0 0 rg BT 269.22 660.60 Td (accessible ) Tj ET Q q 0 0 0 rg BT 303.64 660.60 Td (at ) Tj ET Q q 0 0 0 rg BT 311.42 660.60 Td (the ) Tj ET Q q 0 0 0 rg BT 323.19 660.60 Td (measurement ) Tj ET Q q 0 0 0 rg BT 367.84 660.60 Td (date ) Tj ET Q q 0 0 0 rg BT 383.16 660.60 Td (for ) Tj ET Q q 0 0 0 rg BT 394.49 660.60 Td (identical, ) Tj ET Q q 0 0 0 rg BT 426.04 660.60 Td (unrestricted ) Tj ET Q q 0 0 0 rg BT 465.80 660.60 Td (instruments.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 648.00 Td (Level ) Tj ET Q q 0 0 0 rg BT 69.71 648.00 Td (2 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 103.50 648.00 Td (Quoted ) Tj ET Q q 0 0 0 rg BT 128.60 648.00 Td (prices ) Tj ET Q q 0 0 0 rg BT 149.25 648.00 Td (in ) Tj ET Q q 0 0 0 rg BT 157.02 648.00 Td (markets ) Tj ET Q q 0 0 0 rg BT 183.89 648.00 Td (that ) Tj ET Q q 0 0 0 rg BT 197.43 648.00 Td (are ) Tj ET Q q 0 0 0 rg BT 208.75 648.00 Td (not ) Tj ET Q q 0 0 0 rg BT 220.52 648.00 Td (considered ) Tj ET Q q 0 0 0 rg BT 256.72 648.00 Td (to ) Tj ET Q q 0 0 0 rg BT 264.49 648.00 Td (be ) Tj ET Q q 0 0 0 rg BT 273.59 648.00 Td (active ) Tj ET Q q 0 0 0 rg BT 294.23 648.00 Td (or ) Tj ET Q q 0 0 0 rg BT 302.45 648.00 Td (financial ) Tj ET Q q 0 0 0 rg BT 331.98 648.00 Td (instruments ) Tj ET Q q 0 0 0 rg BT 370.86 648.00 Td (for ) Tj ET Q q 0 0 0 rg BT 381.73 648.00 Td (which ) Tj ET Q q 0 0 0 rg BT 402.83 648.00 Td (all ) Tj ET Q q 0 0 0 rg BT 412.38 648.00 Td (significant ) Tj ET Q q 0 0 0 rg BT 447.69 648.00 Td (inputs ) Tj ET Q q 0 0 0 rg BT 468.80 648.00 Td (are ) Tj ET Q q 0 0 0 rg BT 480.11 648.00 Td (observable, ) Tj ET Q q 0 0 0 rg BT 518.31 648.00 Td (either ) Tj ET Q q 0 0 0 rg BT 538.07 648.00 Td (directly ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 103.50 638.40 Td (or ) Tj ET Q q 0 0 0 rg BT 112.16 638.40 Td (indirectly) Tj ET Q q 0 0 0 rg BT 142.30 638.40 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 625.80 Td (Level ) Tj ET Q q 0 0 0 rg BT 69.71 625.80 Td (3 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 103.50 625.80 Td (Prices ) Tj ET Q q 0 0 0 rg BT 125.05 625.80 Td (or ) Tj ET Q q 0 0 0 rg BT 133.71 625.80 Td (valuations ) Tj ET Q q 0 0 0 rg BT 168.60 625.80 Td (that ) Tj ET Q q 0 0 0 rg BT 182.59 625.80 Td (require ) Tj ET Q q 0 0 0 rg BT 207.25 625.80 Td (inputs ) Tj ET Q q 0 0 0 rg BT 228.80 625.80 Td (that ) Tj ET Q q 0 0 0 rg BT 242.80 625.80 Td (are ) Tj ET Q q 0 0 0 rg BT 254.57 625.80 Td (both ) Tj ET Q q 0 0 0 rg BT 270.79 625.80 Td (significant ) Tj ET Q q 0 0 0 rg BT 306.56 625.80 Td (to ) Tj ET Q q 0 0 0 rg BT 314.78 625.80 Td (the ) Tj ET Q q 0 0 0 rg BT 326.55 625.80 Td (fair ) Tj ET Q q 0 0 0 rg BT 339.66 625.80 Td (value ) Tj ET Q q 0 0 0 rg BT 358.98 625.80 Td (measurement ) Tj ET Q q 0 0 0 rg BT 403.63 625.80 Td (and ) Tj ET Q q 0 0 0 rg BT 417.18 625.80 Td (unobservable.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 610.20 Td (A) Tj ET Q q 0 0 0 rg BT 54.84 610.20 Td ( ) Tj ET Q q 0 0 0 rg BT 56.84 610.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 86.82 610.20 Td (instrument) Tj ET Q q 0 0 0 rg BT 123.26 610.20 Td (s ) Tj ET Q q 0 0 0 rg BT 128.38 610.20 Td (level ) Tj ET Q q 0 0 0 rg BT 145.92 610.20 Td (within ) Tj ET Q q 0 0 0 rg BT 168.37 610.20 Td (the ) Tj ET Q q 0 0 0 rg BT 180.14 610.20 Td (fair ) Tj ET Q q 0 0 0 rg BT 193.24 610.20 Td (value ) Tj ET Q q 0 0 0 rg BT 212.57 610.20 Td (hierarchy ) Tj ET Q q 0 0 0 rg BT 244.77 610.20 Td (is ) Tj ET Q q 0 0 0 rg BT 252.11 610.20 Td (based ) Tj ET Q q 0 0 0 rg BT 272.32 610.20 Td (on ) Tj ET Q q 0 0 0 rg BT 282.32 610.20 Td (the ) Tj ET Q q 0 0 0 rg BT 294.09 610.20 Td (lowest ) Tj ET Q q 0 0 0 rg BT 316.98 610.20 Td (level ) Tj ET Q q 0 0 0 rg BT 334.53 610.20 Td (of ) Tj ET Q q 0 0 0 rg BT 343.19 610.20 Td (any ) Tj ET Q q 0 0 0 rg BT 356.74 610.20 Td (input ) Tj ET Q q 0 0 0 rg BT 375.19 610.20 Td (that ) Tj ET Q q 0 0 0 rg BT 389.18 610.20 Td (is ) Tj ET Q q 0 0 0 rg BT 396.52 610.20 Td (significant ) Tj ET Q q 0 0 0 rg BT 432.29 610.20 Td (to ) Tj ET Q q 0 0 0 rg BT 440.51 610.20 Td (the ) Tj ET Q q 0 0 0 rg BT 452.29 610.20 Td (fair ) Tj ET Q q 0 0 0 rg BT 465.39 610.20 Td (value ) Tj ET Q q 0 0 0 rg BT 484.71 610.20 Td (measurement.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 594.60 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 594.60 Td (e ) Tj ET Q q 0 0 0 rg BT 62.50 594.60 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 91.68 594.60 Td (the ) Tj ET Q q 0 0 0 rg BT 103.99 594.60 Td (position ) Tj ET Q q 0 0 0 rg BT 132.30 594.60 Td (of ) Tj ET Q q 0 0 0 rg BT 141.50 594.60 Td (each ) Tj ET Q q 0 0 0 rg BT 158.69 594.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 189.20 594.60 Td (instrument ) Tj ET Q q 0 0 0 rg BT 225.96 594.60 Td (measured ) Tj ET Q q 0 0 0 rg BT 259.14 594.60 Td (at ) Tj ET Q q 0 0 0 rg BT 267.45 594.60 Td (fair ) Tj ET Q q 0 0 0 rg BT 281.09 594.60 Td (value ) Tj ET Q q 0 0 0 rg BT 300.95 594.60 Td (in ) Tj ET Q q 0 0 0 rg BT 309.70 594.60 Td (the ) Tj ET Q q 0 0 0 rg BT 322.01 594.60 Td (hierarchy ) Tj ET Q q 0 0 0 rg BT 354.75 594.60 Td (individually ) Tj ET Q q 0 0 0 rg BT 395.95 594.60 Td (based ) Tj ET Q q 0 0 0 rg BT 416.69 594.60 Td (on ) Tj ET Q q 0 0 0 rg BT 427.23 594.60 Td (the ) Tj ET Q q 0 0 0 rg BT 439.54 594.60 Td (valuation ) Tj ET Q q 0 0 0 rg BT 471.84 594.60 Td (methodology ) Tj ET Q q 0 0 0 rg BT 516.59 594.60 Td (we ) Tj ET Q q 0 0 0 rg BT 528.46 594.60 Td (apply) Tj ET Q q 0 0 0 rg BT 545.71 594.60 Td (. ) Tj ET Q q 0 0 0 rg BT 550.06 594.60 Td (The ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 585.00 Td (carrying ) Tj ET Q q 0 0 0 rg BT 77.71 585.00 Td (amount ) Tj ET Q q 0 0 0 rg BT 103.27 585.00 Td (of ) Tj ET Q q 0 0 0 rg BT 111.49 585.00 Td (financial ) Tj ET Q q 0 0 0 rg BT 141.04 585.00 Td (instruments, ) Tj ET Q q 0 0 0 rg BT 181.93 585.00 Td (including ) Tj ET Q q 0 0 0 rg BT 213.71 585.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 229.49 585.00 Td (and ) Tj ET Q q 0 0 0 rg BT 242.60 585.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 258.37 585.00 Td (equivalents, ) Tj ET Q q 0 0 0 rg BT 298.37 585.00 Td (accounts ) Tj ET Q q 0 0 0 rg BT 327.92 585.00 Td (receivable, ) Tj ET Q q 0 0 0 rg BT 364.34 585.00 Td (and ) Tj ET Q q 0 0 0 rg BT 377.45 585.00 Td (accounts ) Tj ET Q q 0 0 0 rg BT 407.00 585.00 Td (payable ) Tj ET Q q 0 0 0 rg BT 433.44 585.00 Td (and ) Tj ET Q q 0 0 0 rg BT 446.55 585.00 Td (accrued ) Tj ET Q q 0 0 0 rg BT 472.97 585.00 Td (liabilities, ) Tj ET Q q 0 0 0 rg BT 506.31 585.00 Td (approximate ) Tj ET Q q 0 0 0 rg BT 547.85 585.00 Td (their ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 575.40 Td (fair ) Tj ET Q q 0 0 0 rg BT 62.85 575.40 Td (value ) Tj ET Q q 0 0 0 rg BT 82.43 575.40 Td (due ) Tj ET Q q 0 0 0 rg BT 96.23 575.40 Td (to ) Tj ET Q q 0 0 0 rg BT 104.70 575.40 Td (the ) Tj ET Q q 0 0 0 rg BT 116.73 575.40 Td (short-term ) Tj ET Q q 0 0 0 rg BT 152.30 575.40 Td (nature ) Tj ET Q q 0 0 0 rg BT 174.54 575.40 Td (of ) Tj ET Q q 0 0 0 rg BT 183.46 575.40 Td (these ) Tj ET Q q 0 0 0 rg BT 202.15 575.40 Td (items. ) Tj ET Q q 0 0 0 rg BT 223.57 575.40 Td (The ) Tj ET Q q 0 0 0 rg BT 238.25 575.40 Td (fair ) Tj ET Q q 0 0 0 rg BT 251.61 575.40 Td (value ) Tj ET Q q 0 0 0 rg BT 271.18 575.40 Td (of ) Tj ET Q q 0 0 0 rg BT 280.10 575.40 Td (our ) Tj ET Q q 0 0 0 rg BT 293.01 575.40 Td (long-term ) Tj ET Q q 0 0 0 rg BT 326.81 575.40 Td (debt ) Tj ET Q q 0 0 0 rg BT 342.83 575.40 Td (and ) Tj ET Q q 0 0 0 rg BT 356.64 575.40 Td (other ) Tj ET Q q 0 0 0 rg BT 375.32 575.40 Td (financing ) Tj ET Q q 0 0 0 rg BT 407.79 575.40 Td (arrangements ) Tj ET Q q 0 0 0 rg BT 453.13 575.40 Td (is ) Tj ET Q q 0 0 0 rg BT 460.71 575.40 Td (included ) Tj ET Q q 0 0 0 rg BT 490.51 575.40 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 498.99 575.40 Td (Note ) Tj ET Q q 0 0 0 rg BT 516.79 575.40 Td (5, ) Tj ET Q q 0 0 0 rg BT 525.04 575.40 Td ("Long-term ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 565.80 Td (Debt ) Tj ET Q q 0 0 0 rg BT 67.05 565.80 Td (and ) Tj ET Q q 0 0 0 rg BT 80.60 565.80 Td (Other ) Tj ET Q q 0 0 0 rg BT 100.82 565.80 Td (Financing ) Tj ET Q q 0 0 0 rg BT 134.37 565.80 Td (Arrangements") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.95 565.80 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 550.20 Td (Hedging ) Tj ET Q q 0 0 0 rg BT 79.95 550.20 Td (Activities) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 531.60 Td (Cash ) Tj ET Q q 0 0 0 rg BT 67.95 531.60 Td (Flow ) Tj ET Q q 0 0 0 rg BT 86.39 531.60 Td (Hedges ) Tj ET Q q 0 0 0 rg BT 112.39 531.60 Td (of ) Tj ET Q q 0 0 0 rg BT 120.61 531.60 Td (Inter) Tj ET Q q 0 0 0 rg BT 135.86 531.60 Td (est ) Tj ET Q q 0 0 0 rg BT 146.75 531.60 Td (Rate ) Tj ET Q q 0 0 0 rg BT 163.41 531.60 Td (Risk) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 513.00 Td (During ) Tj ET Q q 0 0 0 rg BT 74.26 513.00 Td (2014, ) Tj ET Q q 0 0 0 rg BT 94.35 513.00 Td (we ) Tj ET Q q 0 0 0 rg BT 105.77 513.00 Td (entered ) Tj ET Q q 0 0 0 rg BT 131.41 513.00 Td (into ) Tj ET Q q 0 0 0 rg BT 145.95 513.00 Td (two ) Tj ET Q q 0 0 0 rg BT 160.04 513.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 185.68 513.00 Td (rate ) Tj ET Q q 0 0 0 rg BT 199.76 513.00 Td (swap ) Tj ET Q q 0 0 0 rg BT 218.30 513.00 Td (agreements ) Tj ET Q q 0 0 0 rg BT 256.82 513.00 Td (to ) Tj ET Q q 0 0 0 rg BT 265.13 513.00 Td (mitigate ) Tj ET Q q 0 0 0 rg BT 293.44 513.00 Td (our ) Tj ET Q q 0 0 0 rg BT 306.20 513.00 Td (exposure ) Tj ET Q q 0 0 0 rg BT 337.17 513.00 Td (to ) Tj ET Q q 0 0 0 rg BT 345.49 513.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 371.13 513.00 Td (rate ) Tj ET Q q 0 0 0 rg BT 385.21 513.00 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 425.07 513.00 Td (on ) Tj ET Q q 0 0 0 rg BT 435.17 513.00 Td (the ) Tj ET Q q 0 0 0 rg BT 447.04 513.00 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 486.46 513.00 Td (principal ) Tj ET Q q 0 0 0 rg BT 516.99 513.00 Td (amount ) Tj ET Q q 0 0 0 rg BT 543.08 513.00 Td (of ) Tj ET Q q 0 0 0 rg BT 551.84 513.00 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 503.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 67.39 503.40 Td (Euro ) Tj ET Q q 0 0 0 rg BT 84.70 503.40 Td (T) Tj ET Q q 0 0 0 rg BT 89.03 503.40 Td (erm ) Tj ET Q q 0 0 0 rg BT 103.36 503.40 Td (Loan. ) Tj ET Q q 0 0 0 rg BT 123.56 503.40 Td (These ) Tj ET Q q 0 0 0 rg BT 144.55 503.40 Td (interest ) Tj ET Q q 0 0 0 rg BT 170.00 503.40 Td (rate ) Tj ET Q q 0 0 0 rg BT 183.88 503.40 Td (swaps, ) Tj ET Q q 0 0 0 rg BT 207.33 503.40 Td (designated ) Tj ET Q q 0 0 0 rg BT 243.43 503.40 Td (as ) Tj ET Q q 0 0 0 rg BT 251.99 503.40 Td (cash ) Tj ET Q q 0 0 0 rg BT 268.10 503.40 Td (flow ) Tj ET Q q 0 0 0 rg BT 284.66 503.40 Td (hedges, ) Tj ET Q q 0 0 0 rg BT 310.77 503.40 Td (provide ) Tj ET Q q 0 0 0 rg BT 337.10 503.40 Td (us ) Tj ET Q q 0 0 0 rg BT 346.11 503.40 Td (with ) Tj ET Q q 0 0 0 rg BT 362.23 503.40 Td (variable-rate ) Tj ET Q q 0 0 0 rg BT 404.54 503.40 Td (cash ) Tj ET Q q 0 0 0 rg BT 420.64 503.40 Td (receipts ) Tj ET Q q 0 0 0 rg BT 447.41 503.40 Td (in ) Tj ET Q q 0 0 0 rg BT 455.53 503.40 Td (exchange ) Tj ET Q q 0 0 0 rg BT 487.63 503.40 Td (for ) Tj ET Q q 0 0 0 rg BT 498.85 503.40 Td (fixed-rate ) Tj ET Q q 0 0 0 rg BT 531.84 503.40 Td (payments ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 493.80 Td (over ) Tj ET Q q 0 0 0 rg BT 66.10 493.80 Td (the ) Tj ET Q q 0 0 0 rg BT 78.27 493.80 Td (lives ) Tj ET Q q 0 0 0 rg BT 95.77 493.80 Td (of ) Tj ET Q q 0 0 0 rg BT 104.82 493.80 Td (the ) Tj ET Q q 0 0 0 rg BT 116.98 493.80 Td (agreements, ) Tj ET Q q 0 0 0 rg BT 157.80 493.80 Td (with ) Tj ET Q q 0 0 0 rg BT 174.41 493.80 Td (no ) Tj ET Q q 0 0 0 rg BT 184.80 493.80 Td (exchange ) Tj ET Q q 0 0 0 rg BT 217.39 493.80 Td (of ) Tj ET Q q 0 0 0 rg BT 226.45 493.80 Td (the ) Tj ET Q q 0 0 0 rg BT 238.61 493.80 Td (underlying ) Tj ET Q q 0 0 0 rg BT 275.66 493.80 Td (notional ) Tj ET Q q 0 0 0 rg BT 304.27 493.80 Td (amount. ) Tj ET Q q 0 0 0 rg BT 332.48 493.80 Td (These ) Tj ET Q q 0 0 0 rg BT 353.97 493.80 Td (instruments ) Tj ET Q q 0 0 0 rg BT 393.69 493.80 Td (are ) Tj ET Q q 0 0 0 rg BT 405.85 493.80 Td (carried ) Tj ET Q q 0 0 0 rg BT 430.44 493.80 Td (at ) Tj ET Q q 0 0 0 rg BT 438.61 493.80 Td (fair ) Tj ET Q q 0 0 0 rg BT 452.10 493.80 Td (value ) Tj ET Q q 0 0 0 rg BT 471.81 493.80 Td (on ) Tj ET Q q 0 0 0 rg BT 482.20 493.80 Td (our ) Tj ET Q q 0 0 0 rg BT 495.25 493.80 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 538.08 493.80 Td (balance ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 484.20 Td (sheets, ) Tj ET Q q 0 0 0 rg BT 72.71 484.20 Td (and ) Tj ET Q q 0 0 0 rg BT 85.92 484.20 Td (the ) Tj ET Q q 0 0 0 rg BT 97.35 484.20 Td (ef) Tj ET Q q 0 0 0 rg BT 103.42 484.20 Td (fective ) Tj ET Q q 0 0 0 rg BT 126.84 484.20 Td (portion ) Tj ET Q q 0 0 0 rg BT 151.60 484.20 Td (of ) Tj ET Q q 0 0 0 rg BT 159.92 484.20 Td (changes ) Tj ET Q q 0 0 0 rg BT 187.35 484.20 Td (in ) Tj ET Q q 0 0 0 rg BT 195.23 484.20 Td (the ) Tj ET Q q 0 0 0 rg BT 206.66 484.20 Td (fair ) Tj ET Q q 0 0 0 rg BT 219.42 484.20 Td (value ) Tj ET Q q 0 0 0 rg BT 238.40 484.20 Td (is ) Tj ET Q q 0 0 0 rg BT 245.39 484.20 Td (recorded ) Tj ET Q q 0 0 0 rg BT 275.03 484.20 Td (in ) Tj ET Q q 0 0 0 rg BT 282.91 484.20 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 324.99 484.20 Td (other ) Tj ET Q q 0 0 0 rg BT 343.08 484.20 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 393.17 484.20 Td (income ) Tj ET Q q 0 0 0 rg BT 418.37 484.20 Td (/ ) Tj ET Q q 0 0 0 rg BT 422.25 484.20 Td (loss ) Tj ET Q q 0 0 0 rg BT 436.36 484.20 Td (and ) Tj ET Q q 0 0 0 rg BT 449.56 484.20 Td (subsequently ) Tj ET Q q 0 0 0 rg BT 492.99 484.20 Td (reclassified ) Tj ET Q q 0 0 0 rg BT 531.08 484.20 Td (to ) Tj ET Q q 0 0 0 rg BT 538.96 484.20 Td (interest ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 474.60 Td (expense ) Tj ET Q q 0 0 0 rg BT 77.90 474.60 Td (when ) Tj ET Q q 0 0 0 rg BT 97.87 474.60 Td (the ) Tj ET Q q 0 0 0 rg BT 110.28 474.60 Td (hedged ) Tj ET Q q 0 0 0 rg BT 136.02 474.60 Td (item ) Tj ET Q q 0 0 0 rg BT 152.87 474.60 Td (af) Tj ET Q q 0 0 0 rg BT 158.94 474.60 Td (fects ) Tj ET Q q 0 0 0 rg BT 176.68 474.60 Td (earnings. ) Tj ET Q q 0 0 0 rg BT 208.23 474.60 Td (The ) Tj ET Q q 0 0 0 rg BT 223.30 474.60 Td (inef) Tj ET Q q 0 0 0 rg BT 235.59 474.60 Td (fective ) Tj ET Q q 0 0 0 rg BT 259.99 474.60 Td (portion ) Tj ET Q q 0 0 0 rg BT 285.74 474.60 Td (of ) Tj ET Q q 0 0 0 rg BT 295.04 474.60 Td (changes ) Tj ET Q q 0 0 0 rg BT 323.44 474.60 Td (in ) Tj ET Q q 0 0 0 rg BT 332.30 474.60 Td (the ) Tj ET Q q 0 0 0 rg BT 344.71 474.60 Td (fair ) Tj ET Q q 0 0 0 rg BT 358.45 474.60 Td (value ) Tj ET Q q 0 0 0 rg BT 378.41 474.60 Td (is ) Tj ET Q q 0 0 0 rg BT 386.38 474.60 Td (recognized ) Tj ET Q q 0 0 0 rg BT 424.11 474.60 Td (immediately ) Tj ET Q q 0 0 0 rg BT 466.74 474.60 Td (in ) Tj ET Q q 0 0 0 rg BT 475.59 474.60 Td (the ) Tj ET Q q 0 0 0 rg BT 488.00 474.60 Td (change ) Tj ET Q q 0 0 0 rg BT 513.29 474.60 Td (in ) Tj ET Q q 0 0 0 rg BT 522.15 474.60 Td (fair ) Tj ET Q q 0 0 0 rg BT 535.89 474.60 Td (value ) Tj ET Q q 0 0 0 rg BT 555.85 474.60 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 465.00 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 86.19 465.00 Td (in ) Tj ET Q q 0 0 0 rg BT 94.00 465.00 Td (our ) Tj ET Q q 0 0 0 rg BT 106.26 465.00 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 148.28 465.00 Td (statements ) Tj ET Q q 0 0 0 rg BT 183.64 465.00 Td (of ) Tj ET Q q 0 0 0 rg BT 191.90 465.00 Td (operations. ) Tj ET Q q 0 0 0 rg BT 228.81 465.00 Td (For ) Tj ET Q q 0 0 0 rg BT 241.52 465.00 Td (the ) Tj ET Q q 0 0 0 rg BT 252.88 465.00 Td (year ) Tj ET Q q 0 0 0 rg BT 268.24 465.00 Td (ended ) Tj ET Q q 0 0 0 rg BT 288.93 465.00 Td (December ) Tj ET Q q 0 0 0 rg BT 323.39 465.00 Td (31, ) Tj ET Q q 0 0 0 rg BT 334.98 465.00 Td (2014, ) Tj ET Q q 0 0 0 rg BT 354.57 465.00 Td (we ) Tj ET Q q 0 0 0 rg BT 365.49 465.00 Td (did ) Tj ET Q q 0 0 0 rg BT 377.30 465.00 Td (not ) Tj ET Q q 0 0 0 rg BT 389.11 465.00 Td (recognize ) Tj ET Q q 0 0 0 rg BT 421.79 465.00 Td (any ) Tj ET Q q 0 0 0 rg BT 434.94 465.00 Td (char) Tj ET Q q 0 0 0 rg BT 448.56 465.00 Td (ges ) Tj ET Q q 0 0 0 rg BT 460.81 465.00 Td (related ) Tj ET Q q 0 0 0 rg BT 484.17 465.00 Td (to ) Tj ET Q q 0 0 0 rg BT 491.98 465.00 Td (hedge ) Tj ET Q q 0 0 0 rg BT 512.67 465.00 Td (inef) Tj ET Q q 0 0 0 rg BT 524.96 465.00 Td (fectiveness.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 449.40 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 449.40 Td (e ) Tj ET Q q 0 0 0 rg BT 62.20 449.40 Td (value ) Tj ET Q q 0 0 0 rg BT 81.77 449.40 Td (the ) Tj ET Q q 0 0 0 rg BT 93.78 449.40 Td (interest ) Tj ET Q q 0 0 0 rg BT 119.57 449.40 Td (rate ) Tj ET Q q 0 0 0 rg BT 133.80 449.40 Td (swap ) Tj ET Q q 0 0 0 rg BT 152.48 449.40 Td (agreements ) Tj ET Q q 0 0 0 rg BT 191.15 449.40 Td (using ) Tj ET Q q 0 0 0 rg BT 210.73 449.40 Td (a ) Tj ET Q q 0 0 0 rg BT 216.52 449.40 Td (valuation ) Tj ET Q q 0 0 0 rg BT 248.53 449.40 Td (model ) Tj ET Q q 0 0 0 rg BT 270.77 449.40 Td (which ) Tj ET Q q 0 0 0 rg BT 292.56 449.40 Td (calculates ) Tj ET Q q 0 0 0 rg BT 326.33 449.40 Td (the ) Tj ET Q q 0 0 0 rg BT 338.35 449.40 Td (fair ) Tj ET Q q 0 0 0 rg BT 351.69 449.40 Td (value ) Tj ET Q q 0 0 0 rg BT 371.26 449.40 Td (on ) Tj ET Q q 0 0 0 rg BT 381.50 449.40 Td (the ) Tj ET Q q 0 0 0 rg BT 393.51 449.40 Td (basis ) Tj ET Q q 0 0 0 rg BT 411.75 449.40 Td (of ) Tj ET Q q 0 0 0 rg BT 420.66 449.40 Td (the ) Tj ET Q q 0 0 0 rg BT 432.67 449.40 Td (net ) Tj ET Q q 0 0 0 rg BT 444.69 449.40 Td (present ) Tj ET Q q 0 0 0 rg BT 470.03 449.40 Td (value ) Tj ET Q q 0 0 0 rg BT 489.60 449.40 Td (of ) Tj ET Q q 0 0 0 rg BT 498.50 449.40 Td (the ) Tj ET Q q 0 0 0 rg BT 510.52 449.40 Td (estimated ) Tj ET Q q 0 0 0 rg BT 543.42 449.40 Td (future ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 439.80 Td (cash ) Tj ET Q q 0 0 0 rg BT 65.75 439.80 Td (flows. ) Tj ET Q q 0 0 0 rg BT 87.41 439.80 Td (The ) Tj ET Q q 0 0 0 rg BT 101.87 439.80 Td (most ) Tj ET Q q 0 0 0 rg BT 119.46 439.80 Td (significant ) Tj ET Q q 0 0 0 rg BT 155.26 439.80 Td (input ) Tj ET Q q 0 0 0 rg BT 173.74 439.80 Td (used ) Tj ET Q q 0 0 0 rg BT 190.43 439.80 Td (in ) Tj ET Q q 0 0 0 rg BT 198.69 439.80 Td (the ) Tj ET Q q 0 0 0 rg BT 210.49 439.80 Td (valuation ) Tj ET Q q 0 0 0 rg BT 242.29 439.80 Td (model ) Tj ET Q q 0 0 0 rg BT 264.32 439.80 Td (is ) Tj ET Q q 0 0 0 rg BT 271.68 439.80 Td (the ) Tj ET Q q 0 0 0 rg BT 283.49 439.80 Td (expected ) Tj ET Q q 0 0 0 rg BT 313.94 439.80 Td (EURIBOR-based ) Tj ET Q q 0 0 0 rg BT 371.96 439.80 Td (yield ) Tj ET Q q 0 0 0 rg BT 389.99 439.80 Td (curve. ) Tj ET Q q 0 0 0 rg BT 411.64 439.80 Td (This ) Tj ET Q q 0 0 0 rg BT 427.89 439.80 Td (instrument ) Tj ET Q q 0 0 0 rg BT 464.14 439.80 Td (was ) Tj ET Q q 0 0 0 rg BT 478.61 439.80 Td (allocated ) Tj ET Q q 0 0 0 rg BT 509.51 439.80 Td (to ) Tj ET Q q 0 0 0 rg BT 517.77 439.80 Td (Level ) Tj ET Q q 0 0 0 rg BT 538.01 439.80 Td (2 ) Tj ET Q q 0 0 0 rg BT 544.04 439.80 Td (of ) Tj ET Q q 0 0 0 rg BT 552.73 439.80 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 430.20 Td (fair ) Tj ET Q q 0 0 0 rg BT 61.96 430.20 Td (value ) Tj ET Q q 0 0 0 rg BT 80.64 430.20 Td (hierarchy ) Tj ET Q q 0 0 0 rg BT 112.20 430.20 Td (because ) Tj ET Q q 0 0 0 rg BT 138.87 430.20 Td (the ) Tj ET Q q 0 0 0 rg BT 150.00 430.20 Td (critical ) Tj ET Q q 0 0 0 rg BT 173.56 430.20 Td (inputs ) Tj ET Q q 0 0 0 rg BT 194.47 430.20 Td (to ) Tj ET Q q 0 0 0 rg BT 202.05 430.20 Td (this ) Tj ET Q q 0 0 0 rg BT 214.96 430.20 Td (model, ) Tj ET Q q 0 0 0 rg BT 238.32 430.20 Td (including ) Tj ET Q q 0 0 0 rg BT 269.89 430.20 Td (current ) Tj ET Q q 0 0 0 rg BT 293.90 430.20 Td (interest ) Tj ET Q q 0 0 0 rg BT 318.80 430.20 Td (rates, ) Tj ET Q q 0 0 0 rg BT 337.26 430.20 Td (relevant ) Tj ET Q q 0 0 0 rg BT 364.38 430.20 Td (yield ) Tj ET Q q 0 0 0 rg BT 381.73 430.20 Td (curves ) Tj ET Q q 0 0 0 rg BT 403.96 430.20 Td (and ) Tj ET Q q 0 0 0 rg BT 416.87 430.20 Td (the ) Tj ET Q q 0 0 0 rg BT 428.00 430.20 Td (known ) Tj ET Q q 0 0 0 rg BT 451.13 430.20 Td (contractual ) Tj ET Q q 0 0 0 rg BT 488.02 430.20 Td (terms ) Tj ET Q q 0 0 0 rg BT 507.15 430.20 Td (of ) Tj ET Q q 0 0 0 rg BT 515.17 430.20 Td (the ) Tj ET Q q 0 0 0 rg BT 526.30 430.20 Td (instrument, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 420.60 Td (were ) Tj ET Q q 0 0 0 rg BT 67.04 420.60 Td (readily ) Tj ET Q q 0 0 0 rg BT 91.25 420.60 Td (observable.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 389.10 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.00 389.10 121.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 359.10 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.00 359.10 121.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 442 389.1 m 563 389.1 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 442 389.1 m 563 389.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 344.1 m 563 344.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 344.1 m 563 344.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 330.1 m 563 330.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 328.1 m 563 328.1 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 491.85 401.33 Td (Accumulated Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 488.75 393.33 Td (Comprehensive Loss) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 378.33 Td (BALANCE December 31, 2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.50 378.33 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 551.80 378.33 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 363.35 Td (Loss on interest rate swaps) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.10 363.35 Td (\(600) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.80 363.35 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 348.35 Td (Reclassified to interest expense) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.80 348.35 Td (19) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 333.33 Td (BALANCE December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.50 333.33 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 545.10 333.33 Td (\(581) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 559.80 333.33 Td (\)) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 314.00 Td (The ) Tj ET Q q 0 0 0 rg BT 63.94 314.00 Td (change ) Tj ET Q q 0 0 0 rg BT 88.59 314.00 Td (in ) Tj ET Q q 0 0 0 rg BT 96.81 314.00 Td (fair ) Tj ET Q q 0 0 0 rg BT 109.91 314.00 Td (value ) Tj ET Q q 0 0 0 rg BT 129.24 314.00 Td (of ) Tj ET Q q 0 0 0 rg BT 137.90 314.00 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 175.00 314.00 Td (not ) Tj ET Q q 0 0 0 rg BT 187.22 314.00 Td (designated ) Tj ET Q q 0 0 0 rg BT 223.43 314.00 Td (as ) Tj ET Q q 0 0 0 rg BT 232.10 314.00 Td (hedging ) Tj ET Q q 0 0 0 rg BT 259.87 314.00 Td (instruments ) Tj ET Q q 0 0 0 rg BT 299.20 314.00 Td (comprised ) Tj ET Q q 0 0 0 rg BT 334.53 314.00 Td (the ) Tj ET Q q 0 0 0 rg BT 346.30 314.00 Td (following ) Tj ET Q q 0 0 0 rg BT 379.41 314.00 Td (for ) Tj ET Q q 0 0 0 rg BT 390.74 314.00 Td (the ) Tj ET Q q 0 0 0 rg BT 402.51 314.00 Td (years ) Tj ET Q q 0 0 0 rg BT 421.39 314.00 Td (ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.49 314.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 489.36 314.00 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.36 314.00 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 509.36 314.00 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.36 314.00 Td ( ) Tj ET Q q 0 0 0 rg BT 527.36 314.00 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.91 314.00 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 556.91 314.00 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 275.50 278.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.00 275.50 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 275.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 275.50 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 275.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 275.50 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 245.50 278.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.00 245.50 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 245.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 245.50 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 245.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 245.50 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 215.50 278.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.00 215.50 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 215.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 215.50 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 215.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 215.50 75.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 328 290.5 m 403 290.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 403 290.5 m 407 290.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 407 290.5 m 482 290.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 482 290.5 m 486 290.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486 290.5 m 561 290.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 328 275.5 m 403 275.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 407 275.5 m 482 275.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486 275.5 m 561 275.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328 215.5 m 403 215.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328 201.5 m 403 201.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328 199.5 m 403 199.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 215.5 m 482 215.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 201.5 m 482 201.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 199.5 m 482 199.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486 215.5 m 561 215.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486 201.5 m 561 201.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486 199.5 m 561 199.5 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 383.75 294.73 Td (For The Year Ending December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 383.50 279.73 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 462.50 279.73 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 541.50 279.73 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 264.75 Td (Currency swap) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.50 264.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.80 264.75 Td (2,311) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.50 264.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 470.80 264.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.50 264.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.80 264.75 Td (665) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 249.75 Td (Interest rate swap) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 391.80 249.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.80 249.75 Td (104) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.80 249.75 Td (573) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 234.75 Td (Share subscription agreement) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 391.80 234.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 470.80 234.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 535.80 234.75 Td (22,836) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 219.75 Td (Company option) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 391.80 219.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 470.80 219.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 535.80 219.75 Td (24,953) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 204.73 Td (Change in fair value of derivatives) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 330.50 204.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 381.80 204.73 Td (2,311) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 409.50 204.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.80 204.73 Td (104) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 488.50 204.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 535.80 204.73 Td (49,027) Tj ET Q BT /F1 8.00 Tf ET BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 182.40 Td (Curr) Tj ET Q q 0 0 0 rg BT 64.77 182.40 Td (ency ) Tj ET Q q 0 0 0 rg BT 81.42 182.40 Td (Risk) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 166.80 Td (On ) Tj ET Q q 0 0 0 rg BT 61.24 166.80 Td (March ) Tj ET Q q 0 0 0 rg BT 84.08 166.80 Td (24, ) Tj ET Q q 0 0 0 rg BT 96.04 166.80 Td (2014, ) Tj ET Q q 0 0 0 rg BT 116.00 166.80 Td (we ) Tj ET Q q 0 0 0 rg BT 127.28 166.80 Td (entered ) Tj ET Q q 0 0 0 rg BT 152.78 166.80 Td (into ) Tj ET Q q 0 0 0 rg BT 167.19 166.80 Td (a ) Tj ET Q q 0 0 0 rg BT 172.70 166.80 Td (foreign ) Tj ET Q q 0 0 0 rg BT 197.76 166.80 Td (currency ) Tj ET Q q 0 0 0 rg BT 227.70 166.80 Td (forward ) Tj ET Q q 0 0 0 rg BT 254.98 166.80 Td (exchange ) Tj ET Q q 0 0 0 rg BT 287.14 166.80 Td (contract ) Tj ET Q q 0 0 0 rg BT 314.87 166.80 Td (to ) Tj ET Q q 0 0 0 rg BT 323.05 166.80 Td (reduce ) Tj ET Q q 0 0 0 rg BT 346.33 166.80 Td (our ) Tj ET Q q 0 0 0 rg BT 358.95 166.80 Td (exposure ) Tj ET Q q 0 0 0 rg BT 389.79 166.80 Td (to ) Tj ET Q q 0 0 0 rg BT 397.97 166.80 Td (movements ) Tj ET Q q 0 0 0 rg BT 436.81 166.80 Td (in ) Tj ET Q q 0 0 0 rg BT 445.00 166.80 Td (the ) Tj ET Q q 0 0 0 rg BT 456.73 166.80 Td (USD ) Tj ET Q q 0 0 0 rg BT 474.69 166.80 Td (to ) Tj ET Q q 0 0 0 rg BT 482.88 166.80 Td (EUR ) Tj ET Q q 0 0 0 rg BT 500.84 166.80 Td (exchange ) Tj ET Q q 0 0 0 rg BT 533.00 166.80 Td (rate ) Tj ET Q q 0 0 0 rg BT 546.95 166.80 Td (from ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 157.20 Td (the ) Tj ET Q q 0 0 0 rg BT 60.96 157.20 Td (expected ) Tj ET Q q 0 0 0 rg BT 91.08 157.20 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 121.20 157.20 Td (of ) Tj ET Q q 0 0 0 rg BT 129.55 157.20 Td (the ) Tj ET Q q 0 0 0 rg BT 141.02 157.20 Td (Rights ) Tj ET Q q 0 0 0 rg BT 163.60 157.20 Td (Of) Tj ET Q q 0 0 0 rg BT 171.90 157.20 Td (fering. ) Tj ET Q q 0 0 0 rg BT 194.69 157.20 Td (Under ) Tj ET Q q 0 0 0 rg BT 216.38 157.20 Td (the ) Tj ET Q q 0 0 0 rg BT 227.84 157.20 Td (contract, ) Tj ET Q q 0 0 0 rg BT 257.29 157.20 Td (we ) Tj ET Q q 0 0 0 rg BT 268.31 157.20 Td (received ) Tj ET Q q 0 0 0 rg BT 297.09 157.20 Td (EUR ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.78 157.20 Td (290.2 ) Tj ET Q q 0 0 0 rg BT 334.47 157.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.58 157.20 Td ( ) Tj ET Q q 0 0 0 rg BT 359.27 157.20 Td (in ) Tj ET Q q 0 0 0 rg BT 367.19 157.20 Td (exchange ) Tj ET Q q 0 0 0 rg BT 399.08 157.20 Td (for ) Tj ET Q q 0 0 0 rg BT 410.10 157.20 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.02 157.20 Td (400.0 ) Tj ET Q q 0 0 0 rg BT 445.71 157.20 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.82 157.20 Td ( ) Tj ET Q q 0 0 0 rg BT 470.51 157.20 Td (on ) Tj ET Q q 0 0 0 rg BT 480.20 157.20 Td (May ) Tj ET Q q 0 0 0 rg BT 496.56 157.20 Td (2, ) Tj ET Q q 0 0 0 rg BT 504.25 157.20 Td (2014, ) Tj ET Q q 0 0 0 rg BT 523.94 157.20 Td (the ) Tj ET Q q 0 0 0 rg BT 535.40 157.20 Td (maturity ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 147.60 Td (date. ) Tj ET Q q 0 0 0 rg BT 66.95 147.60 Td (It ) Tj ET Q q 0 0 0 rg BT 73.96 147.60 Td (was ) Tj ET Q q 0 0 0 rg BT 88.52 147.60 Td (considered ) Tj ET Q q 0 0 0 rg BT 125.29 147.60 Td (to ) Tj ET Q q 0 0 0 rg BT 133.64 147.60 Td (be ) Tj ET Q q 0 0 0 rg BT 143.31 147.60 Td (an ) Tj ET Q q 0 0 0 rg BT 152.98 147.60 Td (economic ) Tj ET Q q 0 0 0 rg BT 186.20 147.60 Td (hedge ) Tj ET Q q 0 0 0 rg BT 207.43 147.60 Td (but ) Tj ET Q q 0 0 0 rg BT 219.77 147.60 Td (was ) Tj ET Q q 0 0 0 rg BT 234.33 147.60 Td (not ) Tj ET Q q 0 0 0 rg BT 246.68 147.60 Td (designated ) Tj ET Q q 0 0 0 rg BT 283.01 147.60 Td (as ) Tj ET Q q 0 0 0 rg BT 291.80 147.60 Td (a ) Tj ET Q q 0 0 0 rg BT 297.47 147.60 Td (hedging ) Tj ET Q q 0 0 0 rg BT 325.37 147.60 Td (instrument, ) Tj ET Q q 0 0 0 rg BT 363.71 147.60 Td (so ) Tj ET Q q 0 0 0 rg BT 372.94 147.60 Td (changes ) Tj ET Q q 0 0 0 rg BT 400.83 147.60 Td (in ) Tj ET Q q 0 0 0 rg BT 409.18 147.60 Td (the ) Tj ET Q q 0 0 0 rg BT 421.07 147.60 Td (fair ) Tj ET Q q 0 0 0 rg BT 434.29 147.60 Td (value ) Tj ET Q q 0 0 0 rg BT 453.74 147.60 Td (of ) Tj ET Q q 0 0 0 rg BT 462.53 147.60 Td (the ) Tj ET Q q 0 0 0 rg BT 474.42 147.60 Td (derivative ) Tj ET Q q 0 0 0 rg BT 508.53 147.60 Td (were ) Tj ET Q q 0 0 0 rg BT 526.19 147.60 Td (recorded ) Tj ET Q q 0 0 0 rg BT 556.30 147.60 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 138.00 Td (the ) Tj ET Q q 0 0 0 rg BT 61.69 138.00 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 104.54 138.00 Td (statements ) Tj ET Q q 0 0 0 rg BT 140.72 138.00 Td (of ) Tj ET Q q 0 0 0 rg BT 149.80 138.00 Td (operations ) Tj ET Q q 0 0 0 rg BT 185.54 138.00 Td (and ) Tj ET Q q 0 0 0 rg BT 199.51 138.00 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 250.35 138.00 Td (income. ) Tj ET Q q 0 0 0 rg BT 278.13 138.00 Td (This ) Tj ET Q q 0 0 0 rg BT 294.77 138.00 Td (instrument ) Tj ET Q q 0 0 0 rg BT 331.41 138.00 Td (was ) Tj ET Q q 0 0 0 rg BT 346.26 138.00 Td (allocated ) Tj ET Q q 0 0 0 rg BT 377.55 138.00 Td (to ) Tj ET Q q 0 0 0 rg BT 386.19 138.00 Td (Level ) Tj ET Q q 0 0 0 rg BT 406.81 138.00 Td (2 ) Tj ET Q q 0 0 0 rg BT 413.23 138.00 Td (of ) Tj ET Q q 0 0 0 rg BT 422.31 138.00 Td (the ) Tj ET Q q 0 0 0 rg BT 434.49 138.00 Td (fair ) Tj ET Q q 0 0 0 rg BT 448.01 138.00 Td (value ) Tj ET Q q 0 0 0 rg BT 467.75 138.00 Td (hierarchy ) Tj ET Q q 0 0 0 rg BT 500.37 138.00 Td (because ) Tj ET Q q 0 0 0 rg BT 528.10 138.00 Td (the ) Tj ET Q q 0 0 0 rg BT 540.29 138.00 Td (critical ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 128.40 Td (inputs ) Tj ET Q q 0 0 0 rg BT 71.67 128.40 Td (to ) Tj ET Q q 0 0 0 rg BT 80.49 128.40 Td (this ) Tj ET Q q 0 0 0 rg BT 94.66 128.40 Td (model, ) Tj ET Q q 0 0 0 rg BT 119.26 128.40 Td (including ) Tj ET Q q 0 0 0 rg BT 152.09 128.40 Td (foreign ) Tj ET Q q 0 0 0 rg BT 177.79 128.40 Td (exchange ) Tj ET Q q 0 0 0 rg BT 210.60 128.40 Td (forward ) Tj ET Q q 0 0 0 rg BT 238.53 128.40 Td (rates ) Tj ET Q q 0 0 0 rg BT 256.24 128.40 Td (and ) Tj ET Q q 0 0 0 rg BT 270.40 128.40 Td (the ) Tj ET Q q 0 0 0 rg BT 282.78 128.40 Td (known ) Tj ET Q q 0 0 0 rg BT 307.16 128.40 Td (contractual ) Tj ET Q q 0 0 0 rg BT 345.30 128.40 Td (terms ) Tj ET Q q 0 0 0 rg BT 365.68 128.40 Td (of ) Tj ET Q q 0 0 0 rg BT 374.95 128.40 Td (the ) Tj ET Q q 0 0 0 rg BT 387.33 128.40 Td (instrument, ) Tj ET Q q 0 0 0 rg BT 426.16 128.40 Td (were ) Tj ET Q q 0 0 0 rg BT 444.31 128.40 Td (readily ) Tj ET Q q 0 0 0 rg BT 469.12 128.40 Td (observable. ) Tj ET Q q 0 0 0 rg BT 508.19 128.40 Td (W) Tj ET Q q 0 0 0 rg BT 515.10 128.40 Td (e ) Tj ET Q q 0 0 0 rg BT 521.26 128.40 Td (recognized ) Tj ET Q q 0 0 0 rg BT 558.96 128.40 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 118.80 Td (derivative ) Tj ET Q q 0 0 0 rg BT 83.48 118.80 Td (gain ) Tj ET Q q 0 0 0 rg BT 99.26 118.80 Td (of ) Tj ET Q q 0 0 0 rg BT 107.92 118.80 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 124.15 118.80 Td (2.4 ) Tj ET Q q 0 0 0 rg BT 136.15 118.80 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 159.26 118.80 Td ( ) Tj ET Q q 0 0 0 rg BT 161.26 118.80 Td (on ) Tj ET Q q 0 0 0 rg BT 171.26 118.80 Td (the ) Tj ET Q q 0 0 0 rg BT 183.04 118.80 Td (maturity ) Tj ET Q q 0 0 0 rg BT 212.14 118.80 Td (date.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 103.20 Td (On ) Tj ET Q q 0 0 0 rg BT 61.20 103.20 Td (April ) Tj ET Q q 0 0 0 rg BT 80.56 103.20 Td (27, ) Tj ET Q q 0 0 0 rg BT 93.03 103.20 Td (2006, ) Tj ET Q q 0 0 0 rg BT 113.50 103.20 Td (we ) Tj ET Q q 0 0 0 rg BT 125.30 103.20 Td (entered ) Tj ET Q q 0 0 0 rg BT 151.30 103.20 Td (into ) Tj ET Q q 0 0 0 rg BT 166.22 103.20 Td (currency ) Tj ET Q q 0 0 0 rg BT 196.67 103.20 Td (swap ) Tj ET Q q 0 0 0 rg BT 215.58 103.20 Td (agreements ) Tj ET Q q 0 0 0 rg BT 254.48 103.20 Td (with ) Tj ET Q q 0 0 0 rg BT 271.17 103.20 Td (two ) Tj ET Q q 0 0 0 rg BT 285.64 103.20 Td (counterparties ) Tj ET Q q 0 0 0 rg BT 333.42 103.20 Td (whereby ) Tj ET Q q 0 0 0 rg BT 363.43 103.20 Td (we ) Tj ET Q q 0 0 0 rg BT 375.23 103.20 Td (swapped ) Tj ET Q q 0 0 0 rg BT 405.69 103.20 Td (a ) Tj ET Q q 0 0 0 rg BT 411.71 103.20 Td (fixed ) Tj ET Q q 0 0 0 rg BT 430.62 103.20 Td (annual ) Tj ET Q q 0 0 0 rg BT 454.42 103.20 Td (coupon ) Tj ET Q q 0 0 0 rg BT 480.44 103.20 Td (interest ) Tj ET Q q 0 0 0 rg BT 506.45 103.20 Td (rate ) Tj ET Q q 0 0 0 rg BT 520.91 103.20 Td (\(of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.71 103.20 Td (9.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 549.37 103.20 Td (\) ) Tj ET Q q 0 0 0 rg BT 554.51 103.20 Td (on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 93.60 Td (notional ) Tj ET Q q 0 0 0 rg BT 77.55 93.60 Td (principal ) Tj ET Q q 0 0 0 rg BT 107.81 93.60 Td (of ) Tj ET Q q 0 0 0 rg BT 116.30 93.60 Td (CZK ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 134.13 93.60 Td (10.7 ) Tj ET Q q 0 0 0 rg BT 149.96 93.60 Td (billion) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 170.85 93.60 Td (, ) Tj ET Q q 0 0 0 rg BT 174.68 93.60 Td (payable ) Tj ET Q q 0 0 0 rg BT 201.39 93.60 Td (quarterly) Tj ET Q q 0 0 0 rg BT 229.74 93.60 Td (, ) Tj ET Q q 0 0 0 rg BT 233.57 93.60 Td (for ) Tj ET Q q 0 0 0 rg BT 244.73 93.60 Td (a ) Tj ET Q q 0 0 0 rg BT 250.11 93.60 Td (fixed ) Tj ET Q q 0 0 0 rg BT 268.37 93.60 Td (annual ) Tj ET Q q 0 0 0 rg BT 291.53 93.60 Td (coupon ) Tj ET Q q 0 0 0 rg BT 316.91 93.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 342.28 93.60 Td (rate ) Tj ET Q q 0 0 0 rg BT 356.10 93.60 Td (\(of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.26 93.60 Td (9.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 383.92 93.60 Td (\) ) Tj ET Q q 0 0 0 rg BT 388.42 93.60 Td (on ) Tj ET Q q 0 0 0 rg BT 398.24 93.60 Td (notional ) Tj ET Q q 0 0 0 rg BT 426.29 93.60 Td (principal ) Tj ET Q q 0 0 0 rg BT 456.55 93.60 Td (of ) Tj ET Q q 0 0 0 rg BT 465.05 93.60 Td (EUR ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.88 93.60 Td (375.9 ) Tj ET Q q 0 0 0 rg BT 502.71 93.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.82 93.60 Td (, ) Tj ET Q q 0 0 0 rg BT 529.65 93.60 Td (receivable ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 84.00 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 80.39 84.00 Td (up ) Tj ET Q q 0 0 0 rg BT 90.41 84.00 Td (to ) Tj ET Q q 0 0 0 rg BT 98.65 84.00 Td (the ) Tj ET Q q 0 0 0 rg BT 110.44 84.00 Td (termination ) Tj ET Q q 0 0 0 rg BT 149.34 84.00 Td (date ) Tj ET Q q 0 0 0 rg BT 164.68 84.00 Td (of ) Tj ET Q q 0 0 0 rg BT 172.92 84.00 Td (April ) Tj ET Q q 0 0 0 rg BT 191.82 84.00 Td (15, ) Tj ET Q q 0 0 0 rg BT 203.84 84.00 Td (2012. ) Tj ET Q q 0 0 0 rg BT 223.71 84.00 Td (These ) Tj ET Q q 0 0 0 rg BT 244.83 84.00 Td (financial ) Tj ET Q q 0 0 0 rg BT 274.83 84.00 Td (instruments ) Tj ET Q q 0 0 0 rg BT 314.18 84.00 Td (were ) Tj ET Q q 0 0 0 rg BT 331.74 84.00 Td (used ) Tj ET Q q 0 0 0 rg BT 348.42 84.00 Td (to ) Tj ET Q q 0 0 0 rg BT 356.66 84.00 Td (minimize ) Tj ET Q q 0 0 0 rg BT 388.90 84.00 Td (currency ) Tj ET Q q 0 0 0 rg BT 418.89 84.00 Td (risk ) Tj ET Q q 0 0 0 rg BT 432.91 84.00 Td (and ) Tj ET Q q 0 0 0 rg BT 446.48 84.00 Td (were ) Tj ET Q q 0 0 0 rg BT 464.04 84.00 Td (considered ) Tj ET Q q 0 0 0 rg BT 500.71 84.00 Td (an ) Tj ET Q q 0 0 0 rg BT 510.28 84.00 Td (economic ) Tj ET Q q 0 0 0 rg BT 543.39 84.00 Td (hedge ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 74.40 Td (of ) Tj ET Q q 0 0 0 rg BT 58.52 74.40 Td (foreign ) Tj ET Q q 0 0 0 rg BT 83.98 74.40 Td (exchange ) Tj ET Q q 0 0 0 rg BT 116.54 74.40 Td (rates. ) Tj ET Q q 0 0 0 rg BT 135.83 74.40 Td (These ) Tj ET Q q 0 0 0 rg BT 157.29 74.40 Td (instruments ) Tj ET Q q 0 0 0 rg BT 196.98 74.40 Td (were ) Tj ET Q q 0 0 0 rg BT 214.89 74.40 Td (not ) Tj ET Q q 0 0 0 rg BT 227.47 74.40 Td (designated ) Tj ET Q q 0 0 0 rg BT 264.04 74.40 Td (as ) Tj ET Q q 0 0 0 rg BT 273.06 74.40 Td (hedging ) Tj ET Q q 0 0 0 rg BT 301.19 74.40 Td (instruments, ) Tj ET Q q 0 0 0 rg BT 342.88 74.40 Td (and ) Tj ET Q q 0 0 0 rg BT 356.79 74.40 Td (so ) Tj ET Q q 0 0 0 rg BT 366.26 74.40 Td (changes ) Tj ET Q q 0 0 0 rg BT 394.39 74.40 Td (in ) Tj ET Q q 0 0 0 rg BT 402.97 74.40 Td (their ) Tj ET Q q 0 0 0 rg BT 419.98 74.40 Td (fair ) Tj ET Q q 0 0 0 rg BT 433.44 74.40 Td (value ) Tj ET Q q 0 0 0 rg BT 453.13 74.40 Td (were ) Tj ET Q q 0 0 0 rg BT 471.03 74.40 Td (recorded ) Tj ET Q q 0 0 0 rg BT 501.37 74.40 Td (in ) Tj ET Q q 0 0 0 rg BT 509.95 74.40 Td (the ) Tj ET Q q 0 0 0 rg BT 522.08 74.40 Td (consolidated ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 64.80 Td (statements ) Tj ET Q q 0 0 0 rg BT 85.27 64.80 Td (of ) Tj ET Q q 0 0 0 rg BT 93.93 64.80 Td (operations ) Tj ET Q q 0 0 0 rg BT 129.26 64.80 Td (and ) Tj ET Q q 0 0 0 rg BT 142.81 64.80 Td (other ) Tj ET Q q 0 0 0 rg BT 161.25 64.80 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 211.67 64.80 Td (income ) Tj ET Q q 0 0 0 rg BT 237.22 64.80 Td (and ) Tj ET Q q 0 0 0 rg BT 250.77 64.80 Td (in ) Tj ET Q q 0 0 0 rg BT 258.99 64.80 Td (the ) Tj ET Q q 0 0 0 rg BT 270.77 64.80 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 313.20 64.80 Td (balance ) Tj ET Q q 0 0 0 rg BT 339.63 64.80 Td (sheet ) Tj ET Q q 0 0 0 rg BT 358.06 64.80 Td (in ) Tj ET Q q 0 0 0 rg BT 366.29 64.80 Td (other ) Tj ET Q q 0 0 0 rg BT 384.72 64.80 Td (current ) Tj ET Q q 0 0 0 rg BT 409.38 64.80 Td (liabilities.) Tj ET Q endstream endobj 143 0 obj <>] /Rotate 0 /Contents 144 0 R>> endobj 144 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (69) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 723.50 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 723.50 Td (e ) Tj ET Q q 0 0 0 rg BT 61.74 723.50 Td (valued ) Tj ET Q q 0 0 0 rg BT 84.85 723.50 Td (these ) Tj ET Q q 0 0 0 rg BT 103.06 723.50 Td (currency ) Tj ET Q q 0 0 0 rg BT 132.82 723.50 Td (swap ) Tj ET Q q 0 0 0 rg BT 151.05 723.50 Td (agreements ) Tj ET Q q 0 0 0 rg BT 189.25 723.50 Td (using ) Tj ET Q q 0 0 0 rg BT 208.37 723.50 Td (an ) Tj ET Q q 0 0 0 rg BT 217.70 723.50 Td (industry-standard ) Tj ET Q q 0 0 0 rg BT 275.47 723.50 Td (currency ) Tj ET Q q 0 0 0 rg BT 305.23 723.50 Td (swap ) Tj ET Q q 0 0 0 rg BT 323.45 723.50 Td (pricing ) Tj ET Q q 0 0 0 rg BT 347.89 723.50 Td (model ) Tj ET Q q 0 0 0 rg BT 369.67 723.50 Td (which ) Tj ET Q q 0 0 0 rg BT 391.00 723.50 Td (calculated ) Tj ET Q q 0 0 0 rg BT 425.20 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 436.75 723.50 Td (fair ) Tj ET Q q 0 0 0 rg BT 449.64 723.50 Td (value ) Tj ET Q q 0 0 0 rg BT 468.74 723.50 Td (on ) Tj ET Q q 0 0 0 rg BT 478.52 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 490.07 723.50 Td (basis ) Tj ET Q q 0 0 0 rg BT 507.85 723.50 Td (of ) Tj ET Q q 0 0 0 rg BT 516.30 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 527.85 723.50 Td (net ) Tj ET Q q 0 0 0 rg BT 539.41 723.50 Td (present ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 713.90 Td (value ) Tj ET Q q 0 0 0 rg BT 68.83 713.90 Td (of ) Tj ET Q q 0 0 0 rg BT 77.49 713.90 Td (the ) Tj ET Q q 0 0 0 rg BT 89.26 713.90 Td (estimated ) Tj ET Q q 0 0 0 rg BT 121.92 713.90 Td (future ) Tj ET Q q 0 0 0 rg BT 143.02 713.90 Td (cash ) Tj ET Q q 0 0 0 rg BT 159.24 713.90 Td (flows ) Tj ET Q q 0 0 0 rg BT 179.02 713.90 Td (receivable ) Tj ET Q q 0 0 0 rg BT 213.88 713.90 Td (or ) Tj ET Q q 0 0 0 rg BT 222.55 713.90 Td (payable. ) Tj ET Q q 0 0 0 rg BT 251.28 713.90 Td (These ) Tj ET Q q 0 0 0 rg BT 272.38 713.90 Td (instruments ) Tj ET Q q 0 0 0 rg BT 311.71 713.90 Td (were ) Tj ET Q q 0 0 0 rg BT 329.26 713.90 Td (allocated ) Tj ET Q q 0 0 0 rg BT 360.13 713.90 Td (to ) Tj ET Q q 0 0 0 rg BT 368.35 713.90 Td (Level ) Tj ET Q q 0 0 0 rg BT 388.57 713.90 Td (2 ) Tj ET Q q 0 0 0 rg BT 394.57 713.90 Td (of ) Tj ET Q q 0 0 0 rg BT 403.23 713.90 Td (the ) Tj ET Q q 0 0 0 rg BT 415.01 713.90 Td (fair ) Tj ET Q q 0 0 0 rg BT 428.11 713.90 Td (value ) Tj ET Q q 0 0 0 rg BT 447.43 713.90 Td (hierarchy ) Tj ET Q q 0 0 0 rg BT 479.64 713.90 Td (because ) Tj ET Q q 0 0 0 rg BT 506.96 713.90 Td (the ) Tj ET Q q 0 0 0 rg BT 518.73 713.90 Td (critical ) Tj ET Q q 0 0 0 rg BT 542.94 713.90 Td (inputs ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 704.30 Td (to ) Tj ET Q q 0 0 0 rg BT 57.72 704.30 Td (this ) Tj ET Q q 0 0 0 rg BT 71.28 704.30 Td (model, ) Tj ET Q q 0 0 0 rg BT 95.28 704.30 Td (including ) Tj ET Q q 0 0 0 rg BT 127.50 704.30 Td (the ) Tj ET Q q 0 0 0 rg BT 139.27 704.30 Td (relevant ) Tj ET Q q 0 0 0 rg BT 167.03 704.30 Td (yield ) Tj ET Q q 0 0 0 rg BT 185.03 704.30 Td (curves ) Tj ET Q q 0 0 0 rg BT 207.91 704.30 Td (and ) Tj ET Q q 0 0 0 rg BT 221.46 704.30 Td (the ) Tj ET Q q 0 0 0 rg BT 233.23 704.30 Td (known ) Tj ET Q q 0 0 0 rg BT 257.01 704.30 Td (contractual ) Tj ET Q q 0 0 0 rg BT 294.54 704.30 Td (terms ) Tj ET Q q 0 0 0 rg BT 314.32 704.30 Td (of ) Tj ET Q q 0 0 0 rg BT 322.98 704.30 Td (the ) Tj ET Q q 0 0 0 rg BT 334.75 704.30 Td (instrument, ) Tj ET Q q 0 0 0 rg BT 372.97 704.30 Td (were ) Tj ET Q q 0 0 0 rg BT 390.52 704.30 Td (readily ) Tj ET Q q 0 0 0 rg BT 414.73 704.30 Td (observable.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 685.70 Td (Inter) Tj ET Q q 0 0 0 rg BT 64.75 685.70 Td (est ) Tj ET Q q 0 0 0 rg BT 75.64 685.70 Td (Rate ) Tj ET Q q 0 0 0 rg BT 92.30 685.70 Td (Risk) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 670.10 Td (On ) Tj ET Q q 0 0 0 rg BT 61.35 670.10 Td (February ) Tj ET Q q 0 0 0 rg BT 92.30 670.10 Td (9, ) Tj ET Q q 0 0 0 rg BT 100.38 670.10 Td (2010, ) Tj ET Q q 0 0 0 rg BT 120.45 670.10 Td (we ) Tj ET Q q 0 0 0 rg BT 131.85 670.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 157.46 670.10 Td (into ) Tj ET Q q 0 0 0 rg BT 171.98 670.10 Td (an ) Tj ET Q q 0 0 0 rg BT 181.61 670.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 207.23 670.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 221.29 670.10 Td (swap ) Tj ET Q q 0 0 0 rg BT 239.80 670.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 275.19 670.10 Td (to ) Tj ET Q q 0 0 0 rg BT 283.48 670.10 Td (reduce ) Tj ET Q q 0 0 0 rg BT 306.87 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 318.72 670.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 342.56 670.10 Td (of ) Tj ET Q q 0 0 0 rg BT 351.30 670.10 Td (changing ) Tj ET Q q 0 0 0 rg BT 382.70 670.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 408.32 670.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 425.49 670.10 Td (on ) Tj ET Q q 0 0 0 rg BT 435.57 670.10 Td (our ) Tj ET Q q 0 0 0 rg BT 448.30 670.10 Td (previously ) Tj ET Q q 0 0 0 rg BT 484.15 670.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 523.55 670.10 Td (floating ) Tj ET Q q 0 0 0 rg BT 550.51 670.10 Td (rate ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 660.50 Td (CZK-denominated ) Tj ET Q q 0 0 0 rg BT 111.87 660.50 Td (debt. ) Tj ET Q q 0 0 0 rg BT 129.85 660.50 Td (The ) Tj ET Q q 0 0 0 rg BT 144.67 660.50 Td (interest ) Tj ET Q q 0 0 0 rg BT 170.59 660.50 Td (rate ) Tj ET Q q 0 0 0 rg BT 184.96 660.50 Td (swap ) Tj ET Q q 0 0 0 rg BT 203.79 660.50 Td (expired ) Tj ET Q q 0 0 0 rg BT 230.15 660.50 Td (in ) Tj ET Q q 0 0 0 rg BT 238.23 660.50 Td (April ) Tj ET Q q 0 0 0 rg BT 257.50 660.50 Td (2013 ) Tj ET Q q 0 0 0 rg BT 275.88 660.50 Td (and ) Tj ET Q q 0 0 0 rg BT 289.81 660.50 Td (was ) Tj ET Q q 0 0 0 rg BT 304.63 660.50 Td (used ) Tj ET Q q 0 0 0 rg BT 321.68 660.50 Td (to ) Tj ET Q q 0 0 0 rg BT 330.28 660.50 Td (minimize ) Tj ET Q q 0 0 0 rg BT 362.88 660.50 Td (interest ) Tj ET Q q 0 0 0 rg BT 388.81 660.50 Td (rate ) Tj ET Q q 0 0 0 rg BT 403.18 660.50 Td (risk ) Tj ET Q q 0 0 0 rg BT 417.56 660.50 Td (and ) Tj ET Q q 0 0 0 rg BT 431.49 660.50 Td (was ) Tj ET Q q 0 0 0 rg BT 446.31 660.50 Td (considered ) Tj ET Q q 0 0 0 rg BT 483.34 660.50 Td (an ) Tj ET Q q 0 0 0 rg BT 493.28 660.50 Td (economic ) Tj ET Q q 0 0 0 rg BT 526.75 660.50 Td (hedge. ) Tj ET Q q 0 0 0 rg BT 550.06 660.50 Td (The ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 650.90 Td (interest ) Tj ET Q q 0 0 0 rg BT 74.37 650.90 Td (rate ) Tj ET Q q 0 0 0 rg BT 87.69 650.90 Td (swap ) Tj ET Q q 0 0 0 rg BT 105.46 650.90 Td (was ) Tj ET Q q 0 0 0 rg BT 119.23 650.90 Td (not ) Tj ET Q q 0 0 0 rg BT 130.78 650.90 Td (designated ) Tj ET Q q 0 0 0 rg BT 166.31 650.90 Td (as ) Tj ET Q q 0 0 0 rg BT 174.31 650.90 Td (a ) Tj ET Q q 0 0 0 rg BT 179.18 650.90 Td (hedging ) Tj ET Q q 0 0 0 rg BT 206.28 650.90 Td (instrument ) Tj ET Q q 0 0 0 rg BT 241.83 650.90 Td (so ) Tj ET Q q 0 0 0 rg BT 250.27 650.90 Td (changes ) Tj ET Q q 0 0 0 rg BT 277.36 650.90 Td (in ) Tj ET Q q 0 0 0 rg BT 284.91 650.90 Td (the ) Tj ET Q q 0 0 0 rg BT 296.01 650.90 Td (fair ) Tj ET Q q 0 0 0 rg BT 308.44 650.90 Td (value ) Tj ET Q q 0 0 0 rg BT 327.09 650.90 Td (of ) Tj ET Q q 0 0 0 rg BT 335.08 650.90 Td (the ) Tj ET Q q 0 0 0 rg BT 346.19 650.90 Td (derivative ) Tj ET Q q 0 0 0 rg BT 379.50 650.90 Td (were ) Tj ET Q q 0 0 0 rg BT 396.37 650.90 Td (recorded ) Tj ET Q q 0 0 0 rg BT 425.67 650.90 Td (in ) Tj ET Q q 0 0 0 rg BT 433.22 650.90 Td (the ) Tj ET Q q 0 0 0 rg BT 444.33 650.90 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 486.09 650.90 Td (statements ) Tj ET Q q 0 0 0 rg BT 521.18 650.90 Td (of ) Tj ET Q q 0 0 0 rg BT 529.17 650.90 Td (operations ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 641.30 Td (and ) Tj ET Q q 0 0 0 rg BT 63.05 641.30 Td (other ) Tj ET Q q 0 0 0 rg BT 81.49 641.30 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 131.91 641.30 Td (income ) Tj ET Q q 0 0 0 rg BT 157.46 641.30 Td (and ) Tj ET Q q 0 0 0 rg BT 171.01 641.30 Td (in ) Tj ET Q q 0 0 0 rg BT 179.23 641.30 Td (the ) Tj ET Q q 0 0 0 rg BT 191.01 641.30 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 233.44 641.30 Td (balance ) Tj ET Q q 0 0 0 rg BT 259.87 641.30 Td (sheet ) Tj ET Q q 0 0 0 rg BT 278.30 641.30 Td (in ) Tj ET Q q 0 0 0 rg BT 286.53 641.30 Td (other ) Tj ET Q q 0 0 0 rg BT 304.96 641.30 Td (current ) Tj ET Q q 0 0 0 rg BT 329.62 641.30 Td (liabilities.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 625.70 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 625.70 Td (e ) Tj ET Q q 0 0 0 rg BT 62.14 625.70 Td (valued ) Tj ET Q q 0 0 0 rg BT 85.63 625.70 Td (the ) Tj ET Q q 0 0 0 rg BT 97.58 625.70 Td (interest ) Tj ET Q q 0 0 0 rg BT 123.30 625.70 Td (rate ) Tj ET Q q 0 0 0 rg BT 137.47 625.70 Td (swap ) Tj ET Q q 0 0 0 rg BT 156.08 625.70 Td (agreement ) Tj ET Q q 0 0 0 rg BT 191.57 625.70 Td (using ) Tj ET Q q 0 0 0 rg BT 211.08 625.70 Td (a ) Tj ET Q q 0 0 0 rg BT 216.81 625.70 Td (valuation ) Tj ET Q q 0 0 0 rg BT 248.75 625.70 Td (model ) Tj ET Q q 0 0 0 rg BT 270.92 625.70 Td (which ) Tj ET Q q 0 0 0 rg BT 292.65 625.70 Td (calculated ) Tj ET Q q 0 0 0 rg BT 327.25 625.70 Td (the ) Tj ET Q q 0 0 0 rg BT 339.19 625.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 352.47 625.70 Td (value ) Tj ET Q q 0 0 0 rg BT 371.97 625.70 Td (on ) Tj ET Q q 0 0 0 rg BT 382.14 625.70 Td (the ) Tj ET Q q 0 0 0 rg BT 394.09 625.70 Td (basis ) Tj ET Q q 0 0 0 rg BT 412.27 625.70 Td (of ) Tj ET Q q 0 0 0 rg BT 421.11 625.70 Td (the ) Tj ET Q q 0 0 0 rg BT 433.05 625.70 Td (net ) Tj ET Q q 0 0 0 rg BT 445.00 625.70 Td (present ) Tj ET Q q 0 0 0 rg BT 470.28 625.70 Td (value ) Tj ET Q q 0 0 0 rg BT 489.78 625.70 Td (of ) Tj ET Q q 0 0 0 rg BT 498.62 625.70 Td (the ) Tj ET Q q 0 0 0 rg BT 510.56 625.70 Td (estimated ) Tj ET Q q 0 0 0 rg BT 543.40 625.70 Td (future ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 616.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 65.71 616.10 Td (flows. ) Tj ET Q q 0 0 0 rg BT 87.34 616.10 Td (The ) Tj ET Q q 0 0 0 rg BT 101.77 616.10 Td (most ) Tj ET Q q 0 0 0 rg BT 119.32 616.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 155.08 616.10 Td (input ) Tj ET Q q 0 0 0 rg BT 173.52 616.10 Td (used ) Tj ET Q q 0 0 0 rg BT 190.18 616.10 Td (in ) Tj ET Q q 0 0 0 rg BT 198.40 616.10 Td (the ) Tj ET Q q 0 0 0 rg BT 210.17 616.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 241.93 616.10 Td (model ) Tj ET Q q 0 0 0 rg BT 263.92 616.10 Td (was ) Tj ET Q q 0 0 0 rg BT 278.36 616.10 Td (the ) Tj ET Q q 0 0 0 rg BT 290.12 616.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 320.54 616.10 Td (PRIBOR-based ) Tj ET Q q 0 0 0 rg BT 372.31 616.10 Td (yield ) Tj ET Q q 0 0 0 rg BT 390.31 616.10 Td (curve. ) Tj ET Q q 0 0 0 rg BT 411.92 616.10 Td (This ) Tj ET Q q 0 0 0 rg BT 428.14 616.10 Td (instrument ) Tj ET Q q 0 0 0 rg BT 464.35 616.10 Td (was ) Tj ET Q q 0 0 0 rg BT 478.79 616.10 Td (allocated ) Tj ET Q q 0 0 0 rg BT 509.65 616.10 Td (to ) Tj ET Q q 0 0 0 rg BT 517.87 616.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 538.07 616.10 Td (2 ) Tj ET Q q 0 0 0 rg BT 544.07 616.10 Td (of ) Tj ET Q q 0 0 0 rg BT 552.73 616.10 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 606.50 Td (fair ) Tj ET Q q 0 0 0 rg BT 61.96 606.50 Td (value ) Tj ET Q q 0 0 0 rg BT 80.64 606.50 Td (hierarchy ) Tj ET Q q 0 0 0 rg BT 112.20 606.50 Td (because ) Tj ET Q q 0 0 0 rg BT 138.87 606.50 Td (the ) Tj ET Q q 0 0 0 rg BT 150.00 606.50 Td (critical ) Tj ET Q q 0 0 0 rg BT 173.56 606.50 Td (inputs ) Tj ET Q q 0 0 0 rg BT 194.47 606.50 Td (to ) Tj ET Q q 0 0 0 rg BT 202.05 606.50 Td (this ) Tj ET Q q 0 0 0 rg BT 214.96 606.50 Td (model, ) Tj ET Q q 0 0 0 rg BT 238.32 606.50 Td (including ) Tj ET Q q 0 0 0 rg BT 269.89 606.50 Td (current ) Tj ET Q q 0 0 0 rg BT 293.90 606.50 Td (interest ) Tj ET Q q 0 0 0 rg BT 318.80 606.50 Td (rates, ) Tj ET Q q 0 0 0 rg BT 337.26 606.50 Td (relevant ) Tj ET Q q 0 0 0 rg BT 364.38 606.50 Td (yield ) Tj ET Q q 0 0 0 rg BT 381.73 606.50 Td (curves ) Tj ET Q q 0 0 0 rg BT 403.96 606.50 Td (and ) Tj ET Q q 0 0 0 rg BT 416.87 606.50 Td (the ) Tj ET Q q 0 0 0 rg BT 428.00 606.50 Td (known ) Tj ET Q q 0 0 0 rg BT 451.13 606.50 Td (contractual ) Tj ET Q q 0 0 0 rg BT 488.02 606.50 Td (terms ) Tj ET Q q 0 0 0 rg BT 507.15 606.50 Td (of ) Tj ET Q q 0 0 0 rg BT 515.17 606.50 Td (the ) Tj ET Q q 0 0 0 rg BT 526.30 606.50 Td (instrument, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 596.90 Td (were ) Tj ET Q q 0 0 0 rg BT 67.04 596.90 Td (readily ) Tj ET Q q 0 0 0 rg BT 91.25 596.90 Td (observable.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 581.30 Td (Shar) Tj ET Q q 0 0 0 rg BT 64.32 581.30 Td (e ) Tj ET Q q 0 0 0 rg BT 69.87 581.30 Td (Subscription ) Tj ET Q q 0 0 0 rg BT 112.17 581.30 Td (Agr) Tj ET Q q 0 0 0 rg BT 123.87 581.30 Td (eements ) Tj ET Q q 0 0 0 rg BT 151.64 581.30 Td (and ) Tj ET Q q 0 0 0 rg BT 165.64 581.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 198.30 581.30 Td (Option) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 565.70 Td (In ) Tj ET Q q 0 0 0 rg BT 58.20 565.70 Td (2012, ) Tj ET Q q 0 0 0 rg BT 78.23 565.70 Td (we ) Tj ET Q q 0 0 0 rg BT 89.60 565.70 Td (agreed ) Tj ET Q q 0 0 0 rg BT 112.95 565.70 Td (to ) Tj ET Q q 0 0 0 rg BT 121.21 565.70 Td (issue ) Tj ET Q q 0 0 0 rg BT 139.24 565.70 Td (to ) Tj ET Q q 0 0 0 rg BT 147.35 565.70 Td (TW) Tj ET Q q 0 0 0 rg BT 159.65 565.70 Td ( ) Tj ET Q q 0 0 0 rg BT 161.68 565.70 Td (Investor ) Tj ET Q q 0 0 0 rg BT 189.93 565.70 Td (shares ) Tj ET Q q 0 0 0 rg BT 211.96 565.70 Td (of ) Tj ET Q q 0 0 0 rg BT 220.66 565.70 Td (Class ) Tj ET Q q 0 0 0 rg BT 239.58 565.70 Td (A) Tj ET Q q 0 0 0 rg BT 244.92 565.70 Td ( ) Tj ET Q q 0 0 0 rg BT 246.95 565.70 Td (common ) Tj ET Q q 0 0 0 rg BT 276.98 565.70 Td (stock ) Tj ET Q q 0 0 0 rg BT 295.90 565.70 Td (at ) Tj ET Q q 0 0 0 rg BT 303.71 565.70 Td (a ) Tj ET Q q 0 0 0 rg BT 309.30 565.70 Td (fixed ) Tj ET Q q 0 0 0 rg BT 327.77 565.70 Td (purchase ) Tj ET Q q 0 0 0 rg BT 358.24 565.70 Td (price ) Tj ET Q q 0 0 0 rg BT 376.26 565.70 Td (on ) Tj ET Q q 0 0 0 rg BT 386.29 565.70 Td (a ) Tj ET Q q 0 0 0 rg BT 391.88 565.70 Td (forward ) Tj ET Q q 0 0 0 rg BT 419.24 565.70 Td (date. ) Tj ET Q q 0 0 0 rg BT 436.45 565.70 Td (This ) Tj ET Q q 0 0 0 rg BT 452.71 565.70 Td (forward ) Tj ET Q q 0 0 0 rg BT 480.06 565.70 Td (sale ) Tj ET Q q 0 0 0 rg BT 494.53 565.70 Td (was ) Tj ET Q q 0 0 0 rg BT 509.01 565.70 Td (considered ) Tj ET Q q 0 0 0 rg BT 545.70 565.70 Td (to ) Tj ET Q q 0 0 0 rg BT 553.96 565.70 Td (be ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 556.10 Td (a ) Tj ET Q q 0 0 0 rg BT 54.89 556.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 88.72 556.10 Td (instrument ) Tj ET Q q 0 0 0 rg BT 124.78 556.10 Td (due ) Tj ET Q q 0 0 0 rg BT 138.17 556.10 Td (to ) Tj ET Q q 0 0 0 rg BT 146.23 556.10 Td (the ) Tj ET Q q 0 0 0 rg BT 157.85 556.10 Td (variability ) Tj ET Q q 0 0 0 rg BT 192.57 556.10 Td (in ) Tj ET Q q 0 0 0 rg BT 200.63 556.10 Td (the ) Tj ET Q q 0 0 0 rg BT 212.24 556.10 Td (number ) Tj ET Q q 0 0 0 rg BT 238.52 556.10 Td (of ) Tj ET Q q 0 0 0 rg BT 247.03 556.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 268.86 556.10 Td (to ) Tj ET Q q 0 0 0 rg BT 276.92 556.10 Td (be ) Tj ET Q q 0 0 0 rg BT 286.31 556.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 308.16 556.10 Td (under ) Tj ET Q q 0 0 0 rg BT 328.21 556.10 Td (the ) Tj ET Q q 0 0 0 rg BT 339.83 556.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 359.44 556.10 Td (of ) Tj ET Q q 0 0 0 rg BT 367.94 556.10 Td (the ) Tj ET Q q 0 0 0 rg BT 379.56 556.10 Td (agreement. ) Tj ET Q q 0 0 0 rg BT 416.58 556.10 Td (The ) Tj ET Q q 0 0 0 rg BT 430.86 556.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 452.69 556.10 Td (were ) Tj ET Q q 0 0 0 rg BT 470.07 556.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 491.92 556.10 Td (on ) Tj ET Q q 0 0 0 rg BT 501.76 556.10 Td (June ) Tj ET Q q 0 0 0 rg BT 518.26 556.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 530.10 556.10 Td (2012, ) Tj ET Q q 0 0 0 rg BT 549.94 556.10 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 546.50 Td (as ) Tj ET Q q 0 0 0 rg BT 58.27 546.50 Td (a ) Tj ET Q q 0 0 0 rg BT 63.93 546.50 Td (result, ) Tj ET Q q 0 0 0 rg BT 85.81 546.50 Td (the ) Tj ET Q q 0 0 0 rg BT 97.70 546.50 Td (derivative ) Tj ET Q q 0 0 0 rg BT 131.79 546.50 Td (instrument ) Tj ET Q q 0 0 0 rg BT 168.12 546.50 Td (was ) Tj ET Q q 0 0 0 rg BT 182.67 546.50 Td (settled ) Tj ET Q q 0 0 0 rg BT 205.66 546.50 Td (as ) Tj ET Q q 0 0 0 rg BT 214.43 546.50 Td (of ) Tj ET Q q 0 0 0 rg BT 223.20 546.50 Td (that ) Tj ET Q q 0 0 0 rg BT 237.31 546.50 Td (date ) Tj ET Q q 0 0 0 rg BT 252.74 546.50 Td (resulting ) Tj ET Q q 0 0 0 rg BT 282.84 546.50 Td (in ) Tj ET Q q 0 0 0 rg BT 291.17 546.50 Td (a ) Tj ET Q q 0 0 0 rg BT 296.83 546.50 Td (net ) Tj ET Q q 0 0 0 rg BT 308.71 546.50 Td (gain ) Tj ET Q q 0 0 0 rg BT 324.60 546.50 Td (of ) Tj ET Q q 0 0 0 rg BT 333.37 546.50 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.70 546.50 Td (22.8 ) Tj ET Q q 0 0 0 rg BT 365.81 546.50 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.93 546.50 Td (, ) Tj ET Q q 0 0 0 rg BT 393.03 546.50 Td (which ) Tj ET Q q 0 0 0 rg BT 414.69 546.50 Td (was ) Tj ET Q q 0 0 0 rg BT 429.24 546.50 Td (recorded ) Tj ET Q q 0 0 0 rg BT 459.33 546.50 Td (in ) Tj ET Q q 0 0 0 rg BT 467.66 546.50 Td (the ) Tj ET Q q 0 0 0 rg BT 479.54 546.50 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 522.09 546.50 Td (statement ) Tj ET Q q 0 0 0 rg BT 554.85 546.50 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 536.90 Td (operations ) Tj ET Q q 0 0 0 rg BT 84.82 536.90 Td (and ) Tj ET Q q 0 0 0 rg BT 98.38 536.90 Td (other ) Tj ET Q q 0 0 0 rg BT 116.81 536.90 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 167.24 536.90 Td (income.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 521.30 Td (In ) Tj ET Q q 0 0 0 rg BT 57.99 521.30 Td (addition, ) Tj ET Q q 0 0 0 rg BT 87.90 521.30 Td (TW) Tj ET Q q 0 0 0 rg BT 100.20 521.30 Td ( ) Tj ET Q q 0 0 0 rg BT 102.02 521.30 Td (Investor ) Tj ET Q q 0 0 0 rg BT 130.06 521.30 Td (granted ) Tj ET Q q 0 0 0 rg BT 155.88 521.30 Td (to ) Tj ET Q q 0 0 0 rg BT 163.93 521.30 Td (the ) Tj ET Q q 0 0 0 rg BT 175.53 521.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 208.46 521.30 Td (an ) Tj ET Q q 0 0 0 rg BT 217.84 521.30 Td (option ) Tj ET Q q 0 0 0 rg BT 240.11 521.30 Td (\(the ) Tj ET Q q 0 0 0 rg BT 254.37 521.30 Td ("Company ) Tj ET Q q 0 0 0 rg BT 290.58 521.30 Td (Option"\) ) Tj ET Q q 0 0 0 rg BT 320.55 521.30 Td (to ) Tj ET Q q 0 0 0 rg BT 328.60 521.30 Td (cause ) Tj ET Q q 0 0 0 rg BT 348.06 521.30 Td (TW) Tj ET Q q 0 0 0 rg BT 360.36 521.30 Td ( ) Tj ET Q q 0 0 0 rg BT 362.18 521.30 Td (Investor ) Tj ET Q q 0 0 0 rg BT 390.22 521.30 Td (to ) Tj ET Q q 0 0 0 rg BT 398.27 521.30 Td (purchase, ) Tj ET Q q 0 0 0 rg BT 430.53 521.30 Td (and ) Tj ET Q q 0 0 0 rg BT 443.90 521.30 Td (the ) Tj ET Q q 0 0 0 rg BT 455.50 521.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 488.44 521.30 Td (granted ) Tj ET Q q 0 0 0 rg BT 514.25 521.30 Td (to ) Tj ET Q q 0 0 0 rg BT 522.17 521.30 Td (TW) Tj ET Q q 0 0 0 rg BT 534.46 521.30 Td ( ) Tj ET Q q 0 0 0 rg BT 536.29 521.30 Td (Investor ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 511.70 Td (an ) Tj ET Q q 0 0 0 rg BT 58.90 511.70 Td (option ) Tj ET Q q 0 0 0 rg BT 81.20 511.70 Td (to ) Tj ET Q q 0 0 0 rg BT 89.28 511.70 Td (purchase, ) Tj ET Q q 0 0 0 rg BT 121.56 511.70 Td (at ) Tj ET Q q 0 0 0 rg BT 129.18 511.70 Td (the ) Tj ET Q q 0 0 0 rg BT 140.81 511.70 Td (Purchase ) Tj ET Q q 0 0 0 rg BT 171.54 511.70 Td (Price, ) Tj ET Q q 0 0 0 rg BT 191.83 511.70 Td (the ) Tj ET Q q 0 0 0 rg BT 203.46 511.70 Td (number ) Tj ET Q q 0 0 0 rg BT 229.75 511.70 Td (of ) Tj ET Q q 0 0 0 rg BT 238.26 511.70 Td (shares ) Tj ET Q q 0 0 0 rg BT 260.11 511.70 Td (of ) Tj ET Q q 0 0 0 rg BT 268.63 511.70 Td (Class ) Tj ET Q q 0 0 0 rg BT 287.41 511.70 Td (A) Tj ET Q q 0 0 0 rg BT 292.74 511.70 Td ( ) Tj ET Q q 0 0 0 rg BT 294.59 511.70 Td (common ) Tj ET Q q 0 0 0 rg BT 324.44 511.70 Td (stock ) Tj ET Q q 0 0 0 rg BT 343.18 511.70 Td (\(the ) Tj ET Q q 0 0 0 rg BT 357.47 511.70 Td (Option ) Tj ET Q q 0 0 0 rg BT 385.10 511.70 Td (Shares\) ) Tj ET Q q 0 0 0 rg BT 414.49 511.70 Td (that ) Tj ET Q q 0 0 0 rg BT 428.34 511.70 Td (would ) Tj ET Q q 0 0 0 rg BT 450.19 511.70 Td (generate ) Tj ET Q q 0 0 0 rg BT 479.14 511.70 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 509.42 511.70 Td (to ) Tj ET Q q 0 0 0 rg BT 517.49 511.70 Td (repay ) Tj ET Q q 0 0 0 rg BT 537.11 511.70 Td (the ) Tj ET Q q 0 0 0 rg BT 548.74 511.70 Td (then ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 502.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 88.55 502.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 118.71 502.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 144.42 502.10 Td (drawn ) Tj ET Q q 0 0 0 rg BT 166.13 502.10 Td (under ) Tj ET Q q 0 0 0 rg BT 186.07 502.10 Td (the ) Tj ET Q q 0 0 0 rg BT 197.44 502.10 Td (TW) Tj ET Q q 0 0 0 rg BT 209.73 502.10 Td ( ) Tj ET Q q 0 0 0 rg BT 211.45 502.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 232.79 502.10 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 271.92 502.10 Td (W) Tj ET Q q 0 0 0 rg BT 278.83 502.10 Td (e ) Tj ET Q q 0 0 0 rg BT 284.10 502.10 Td (exercised ) Tj ET Q q 0 0 0 rg BT 316.02 502.10 Td (the ) Tj ET Q q 0 0 0 rg BT 327.52 502.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 360.35 502.10 Td (Option ) Tj ET Q q 0 0 0 rg BT 384.29 502.10 Td (on ) Tj ET Q q 0 0 0 rg BT 394.01 502.10 Td (June ) Tj ET Q q 0 0 0 rg BT 410.39 502.10 Td (27, ) Tj ET Q q 0 0 0 rg BT 422.11 502.10 Td (2012, ) Tj ET Q q 0 0 0 rg BT 441.83 502.10 Td (and ) Tj ET Q q 0 0 0 rg BT 455.10 502.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 491.91 502.10 Td (a ) Tj ET Q q 0 0 0 rg BT 497.18 502.10 Td (net ) Tj ET Q q 0 0 0 rg BT 508.67 502.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 524.17 502.10 Td (of ) Tj ET Q q 0 0 0 rg BT 532.55 502.10 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 548.50 502.10 Td (25.0 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 492.50 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 72.61 492.50 Td (, ) Tj ET Q q 0 0 0 rg BT 76.61 492.50 Td (which ) Tj ET Q q 0 0 0 rg BT 98.16 492.50 Td (was ) Tj ET Q q 0 0 0 rg BT 112.61 492.50 Td (recorded ) Tj ET Q q 0 0 0 rg BT 142.59 492.50 Td (in ) Tj ET Q q 0 0 0 rg BT 150.81 492.50 Td (the ) Tj ET Q q 0 0 0 rg BT 162.58 492.50 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 205.02 492.50 Td (statement ) Tj ET Q q 0 0 0 rg BT 237.67 492.50 Td (of ) Tj ET Q q 0 0 0 rg BT 246.34 492.50 Td (operations ) Tj ET Q q 0 0 0 rg BT 281.66 492.50 Td (and ) Tj ET Q q 0 0 0 rg BT 295.21 492.50 Td (other ) Tj ET Q q 0 0 0 rg BT 313.65 492.50 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 364.07 492.50 Td (income.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 470.90 Td (15. ) Tj ET Q q 0 0 0 rg BT 67.50 470.90 Td (RESTRUCTURING ) Tj ET Q q 0 0 0 rg BT 139.73 470.90 Td (COSTS) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 452.30 Td (Segment ) Tj ET Q q 0 0 0 rg BT 78.60 452.30 Td (Reor) Tj ET Q q 0 0 0 rg BT 93.86 452.30 Td (ganization ) Tj ET Q q 0 0 0 rg BT 129.64 452.30 Td (Plan) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 436.70 Td (In ) Tj ET Q q 0 0 0 rg BT 58.04 436.70 Td (the ) Tj ET Q q 0 0 0 rg BT 69.68 436.70 Td (first ) Tj ET Q q 0 0 0 rg BT 84.44 436.70 Td (quarter ) Tj ET Q q 0 0 0 rg BT 108.96 436.70 Td (of ) Tj ET Q q 0 0 0 rg BT 117.50 436.70 Td (2013, ) Tj ET Q q 0 0 0 rg BT 137.37 436.70 Td (the ) Tj ET Q q 0 0 0 rg BT 149.01 436.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 181.99 436.70 Td (changed ) Tj ET Q q 0 0 0 rg BT 210.52 436.70 Td (the ) Tj ET Q q 0 0 0 rg BT 222.16 436.70 Td (composition ) Tj ET Q q 0 0 0 rg BT 263.59 436.70 Td (of ) Tj ET Q q 0 0 0 rg BT 272.12 436.70 Td (its ) Tj ET Q q 0 0 0 rg BT 281.55 436.70 Td (operating ) Tj ET Q q 0 0 0 rg BT 313.63 436.70 Td (segments. ) Tj ET Q q 0 0 0 rg BT 347.28 436.70 Td (From ) Tj ET Q q 0 0 0 rg BT 366.48 436.70 Td (January ) Tj ET Q q 0 0 0 rg BT 393.23 436.70 Td (1, ) Tj ET Q q 0 0 0 rg BT 401.11 436.70 Td (2013, ) Tj ET Q q 0 0 0 rg BT 420.98 436.70 Td (the ) Tj ET Q q 0 0 0 rg BT 432.62 436.70 Td (Broadcast, ) Tj ET Q q 0 0 0 rg BT 468.48 436.70 Td (Media ) Tj ET Q q 0 0 0 rg BT 490.79 436.70 Td (Pro ) Tj ET Q q 0 0 0 rg BT 503.77 436.70 Td (Entertainment ) Tj ET Q q 0 0 0 rg BT 550.96 436.70 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 427.10 Td (New ) Tj ET Q q 0 0 0 rg BT 65.81 427.10 Td (Media ) Tj ET Q q 0 0 0 rg BT 87.44 427.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 118.85 427.10 Td (segments ) Tj ET Q q 0 0 0 rg BT 149.83 427.10 Td (were ) Tj ET Q q 0 0 0 rg BT 166.57 427.10 Td (reor) Tj ET Q q 0 0 0 rg BT 179.31 427.10 Td (ganized ) Tj ET Q q 0 0 0 rg BT 205.38 427.10 Td (to ) Tj ET Q q 0 0 0 rg BT 212.80 427.10 Td (streamline ) Tj ET Q q 0 0 0 rg BT 247.32 427.10 Td (central ) Tj ET Q q 0 0 0 rg BT 270.29 427.10 Td (resources ) Tj ET Q q 0 0 0 rg BT 301.69 427.10 Td (and ) Tj ET Q q 0 0 0 rg BT 314.44 427.10 Td (create ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 334.73 427.10 Td (six) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.07 427.10 Td ( ) Tj ET Q q 0 0 0 rg BT 345.27 427.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 376.68 427.10 Td (segments: ) Tj ET Q q 0 0 0 rg BT 409.88 427.10 Td (Bulgaria, ) Tj ET Q q 0 0 0 rg BT 440.63 427.10 Td (Croatia, ) Tj ET Q q 0 0 0 rg BT 467.37 427.10 Td (the ) Tj ET Q q 0 0 0 rg BT 478.35 427.10 Td (Czech ) Tj ET Q q 0 0 0 rg BT 499.53 427.10 Td (Republic, ) Tj ET Q q 0 0 0 rg BT 531.62 427.10 Td (Romania, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 417.50 Td (the ) Tj ET Q q 0 0 0 rg BT 60.56 417.50 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 84.08 417.50 Td (Republic ) Tj ET Q q 0 0 0 rg BT 114.25 417.50 Td (and ) Tj ET Q q 0 0 0 rg BT 127.09 417.50 Td (Slovenia. ) Tj ET Q q 0 0 0 rg BT 158.38 417.50 Td (In ) Tj ET Q q 0 0 0 rg BT 166.34 417.50 Td (connection ) Tj ET Q q 0 0 0 rg BT 202.72 417.50 Td (with ) Tj ET Q q 0 0 0 rg BT 218.24 417.50 Td (this ) Tj ET Q q 0 0 0 rg BT 231.09 417.50 Td (change ) Tj ET Q q 0 0 0 rg BT 255.03 417.50 Td (in ) Tj ET Q q 0 0 0 rg BT 262.54 417.50 Td (segments, ) Tj ET Q q 0 0 0 rg BT 295.61 417.50 Td (we ) Tj ET Q q 0 0 0 rg BT 306.23 417.50 Td (incurred ) Tj ET Q q 0 0 0 rg BT 334.17 417.50 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 376.34 417.50 Td (costs ) Tj ET Q q 0 0 0 rg BT 393.63 417.50 Td (to ) Tj ET Q q 0 0 0 rg BT 401.14 417.50 Td (reor) Tj ET Q q 0 0 0 rg BT 413.88 417.50 Td (ganize ) Tj ET Q q 0 0 0 rg BT 436.04 417.50 Td (our ) Tj ET Q q 0 0 0 rg BT 448.00 417.50 Td (businesses ) Tj ET Q q 0 0 0 rg BT 483.07 417.50 Td (through ) Tj ET Q q 0 0 0 rg BT 509.24 417.50 Td (these ) Tj ET Q q 0 0 0 rg BT 526.97 417.50 Td (geographic ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 407.90 Td (segments ) Tj ET Q q 0 0 0 rg BT 81.17 407.90 Td (\(the ) Tj ET Q q 0 0 0 rg BT 95.51 407.90 Td ("Segment ) Tj ET Q q 0 0 0 rg BT 128.67 407.90 Td (Reor) Tj ET Q q 0 0 0 rg BT 144.08 407.90 Td (ganization ) Tj ET Q q 0 0 0 rg BT 179.30 407.90 Td (Plan"\). ) Tj ET Q q 0 0 0 rg BT 202.93 407.90 Td (Actions ) Tj ET Q q 0 0 0 rg BT 229.72 407.90 Td (under ) Tj ET Q q 0 0 0 rg BT 249.84 407.90 Td (the ) Tj ET Q q 0 0 0 rg BT 261.51 407.90 Td (Segment ) Tj ET Q q 0 0 0 rg BT 291.41 407.90 Td (Reor) Tj ET Q q 0 0 0 rg BT 306.81 407.90 Td (ganization ) Tj ET Q q 0 0 0 rg BT 342.03 407.90 Td (Plan ) Tj ET Q q 0 0 0 rg BT 358.16 407.90 Td (were ) Tj ET Q q 0 0 0 rg BT 375.60 407.90 Td (completed ) Tj ET Q q 0 0 0 rg BT 410.82 407.90 Td (as ) Tj ET Q q 0 0 0 rg BT 419.39 407.90 Td (of ) Tj ET Q q 0 0 0 rg BT 427.95 407.90 Td (December ) Tj ET Q q 0 0 0 rg BT 462.72 407.90 Td (31, ) Tj ET Q q 0 0 0 rg BT 474.62 407.90 Td (2013; ) Tj ET Q q 0 0 0 rg BT 494.74 407.90 Td (and ) Tj ET Q q 0 0 0 rg BT 508.19 407.90 Td (payments ) Tj ET Q q 0 0 0 rg BT 540.75 407.90 Td (related ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 398.30 Td (to ) Tj ET Q q 0 0 0 rg BT 57.72 398.30 Td (these ) Tj ET Q q 0 0 0 rg BT 76.16 398.30 Td (actions ) Tj ET Q q 0 0 0 rg BT 100.82 398.30 Td (were ) Tj ET Q q 0 0 0 rg BT 118.36 398.30 Td (completed ) Tj ET Q q 0 0 0 rg BT 153.68 398.30 Td (by ) Tj ET Q q 0 0 0 rg BT 163.68 398.30 Td (December ) Tj ET Q q 0 0 0 rg BT 198.55 398.30 Td (31, ) Tj ET Q q 0 0 0 rg BT 210.55 398.30 Td (2014.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 379.70 Td (2014 ) Tj ET Q q 0 0 0 rg BT 67.50 379.70 Td (Initiatives) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 364.10 Td (During ) Tj ET Q q 0 0 0 rg BT 74.83 364.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 95.49 364.10 Td (we ) Tj ET Q q 0 0 0 rg BT 107.48 364.10 Td (undertook ) Tj ET Q q 0 0 0 rg BT 142.57 364.10 Td (further ) Tj ET Q q 0 0 0 rg BT 167.00 364.10 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 210.54 364.10 Td (actions ) Tj ET Q q 0 0 0 rg BT 235.86 364.10 Td (as ) Tj ET Q q 0 0 0 rg BT 245.18 364.10 Td (our ) Tj ET Q q 0 0 0 rg BT 258.51 364.10 Td (new ) Tj ET Q q 0 0 0 rg BT 274.50 364.10 Td (segment ) Tj ET Q q 0 0 0 rg BT 303.82 364.10 Td (management ) Tj ET Q q 0 0 0 rg BT 347.35 364.10 Td (teams ) Tj ET Q q 0 0 0 rg BT 368.67 364.10 Td (optimized ) Tj ET Q q 0 0 0 rg BT 403.33 364.10 Td (their ) Tj ET Q q 0 0 0 rg BT 420.65 364.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 436.20 364.10 Td (base ) Tj ET Q q 0 0 0 rg BT 453.07 364.10 Td (across ) Tj ET Q q 0 0 0 rg BT 475.72 364.10 Td (all ) Tj ET Q q 0 0 0 rg BT 486.38 364.10 Td (departments ) Tj ET Q q 0 0 0 rg BT 528.14 364.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 543.24 364.10 Td ("2014 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 354.50 Td (Initiatives"\). ) Tj ET Q q 0 0 0 rg BT 91.30 354.50 Td (Actions ) Tj ET Q q 0 0 0 rg BT 118.59 354.50 Td (under ) Tj ET Q q 0 0 0 rg BT 139.21 354.50 Td (the ) Tj ET Q q 0 0 0 rg BT 151.39 354.50 Td (2014 ) Tj ET Q q 0 0 0 rg BT 169.79 354.50 Td (Initiatives ) Tj ET Q q 0 0 0 rg BT 204.19 354.50 Td (were ) Tj ET Q q 0 0 0 rg BT 222.14 354.50 Td (completed ) Tj ET Q q 0 0 0 rg BT 257.86 354.50 Td (as ) Tj ET Q q 0 0 0 rg BT 266.93 354.50 Td (of ) Tj ET Q q 0 0 0 rg BT 276.00 354.50 Td (December ) Tj ET Q q 0 0 0 rg BT 311.27 354.50 Td (31, ) Tj ET Q q 0 0 0 rg BT 323.68 354.50 Td (2014 ) Tj ET Q q 0 0 0 rg BT 342.09 354.50 Td (and ) Tj ET Q q 0 0 0 rg BT 356.04 354.50 Td (payments ) Tj ET Q q 0 0 0 rg BT 389.11 354.50 Td (are ) Tj ET Q q 0 0 0 rg BT 401.28 354.50 Td (expected ) Tj ET Q q 0 0 0 rg BT 432.11 354.50 Td (to ) Tj ET Q q 0 0 0 rg BT 440.74 354.50 Td (be ) Tj ET Q q 0 0 0 rg BT 450.69 354.50 Td (completed ) Tj ET Q q 0 0 0 rg BT 486.42 354.50 Td (by ) Tj ET Q q 0 0 0 rg BT 496.82 354.50 Td (December ) Tj ET Q q 0 0 0 rg BT 532.10 354.50 Td (31, ) Tj ET Q q 0 0 0 rg BT 544.50 354.50 Td (2015. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 344.90 Td (Information ) Tj ET Q q 0 0 0 rg BT 89.71 344.90 Td (relating ) Tj ET Q q 0 0 0 rg BT 116.14 344.90 Td (to ) Tj ET Q q 0 0 0 rg BT 124.37 344.90 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 167.24 344.90 Td (by ) Tj ET Q q 0 0 0 rg BT 177.24 344.90 Td (type ) Tj ET Q q 0 0 0 rg BT 193.02 344.90 Td (of ) Tj ET Q q 0 0 0 rg BT 201.68 344.90 Td (cost ) Tj ET Q q 0 0 0 rg BT 216.57 344.90 Td (is ) Tj ET Q q 0 0 0 rg BT 223.90 344.90 Td (as ) Tj ET Q q 0 0 0 rg BT 232.57 344.90 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 292.40 139.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 292.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 238.00 292.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.00 292.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.00 292.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.00 292.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 292.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 292.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.00 292.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.00 292.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 292.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.00 292.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 292.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 292.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 262.40 139.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 262.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 238.00 262.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.00 262.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.00 262.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.00 262.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 262.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 262.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.00 262.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.00 262.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 262.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.00 262.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 262.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 262.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 232.40 139.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 232.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 238.00 232.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.00 232.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.00 232.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.00 232.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 232.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 232.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.00 232.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.00 232.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 232.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.00 232.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 232.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 232.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 202.40 139.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 202.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 238.00 202.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.00 202.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.00 202.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.00 202.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 202.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 202.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.00 202.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.00 202.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 202.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.00 202.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 202.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 202.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 172.40 139.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 172.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 238.00 172.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.00 172.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.00 172.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.00 172.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 172.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 172.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.00 172.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.00 172.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 172.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.00 172.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 172.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 172.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 142.40 139.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 142.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 238.00 142.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.00 142.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.00 142.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.00 142.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 142.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 142.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.00 142.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.00 142.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 142.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.00 142.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 142.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 142.40 50.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 188 321.4 m 238 321.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 238 321.4 m 242 321.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 242 321.4 m 292 321.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 292 321.4 m 296 321.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 296 321.4 m 346 321.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 350 321.4 m 400 321.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 400 321.4 m 404 321.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 404 321.4 m 454 321.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 454 321.4 m 458 321.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 458 321.4 m 508 321.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 188 292.4 m 238 292.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 242 292.4 m 292 292.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 296 292.4 m 346 292.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 350 292.4 m 400 292.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 404 292.4 m 454 292.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 458 292.4 m 508 292.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 512 292.4 m 562 292.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 188 292.4 m 238 292.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 242 292.4 m 292 292.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 296 292.4 m 346 292.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 350 292.4 m 400 292.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 404 292.4 m 454 292.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 458 292.4 m 508 292.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 512 292.4 m 562 292.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 188 217.39999999999998 m 238 217.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242 217.39999999999998 m 292 217.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296 217.39999999999998 m 346 217.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 217.39999999999998 m 400 217.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 217.39999999999998 m 454 217.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458 217.39999999999998 m 508 217.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 217.39999999999998 m 562 217.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 142.39999999999998 m 454 142.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458 142.39999999999998 m 508 142.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 142.39999999999998 m 562 142.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 188 142.39999999999998 m 238 142.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 188 128.39999999999998 m 238 128.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 188 126.39999999999998 m 238 126.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242 142.39999999999998 m 292 142.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242 128.39999999999998 m 292 128.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242 126.39999999999998 m 292 126.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296 142.39999999999998 m 346 142.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296 128.39999999999998 m 346 128.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296 126.39999999999998 m 346 126.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 142.39999999999998 m 400 142.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 128.39999999999998 m 400 128.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 126.39999999999998 m 400 126.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 142.39999999999998 m 454 142.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 128.39999999999998 m 454 128.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 126.39999999999998 m 454 126.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458 142.39999999999998 m 508 142.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458 128.39999999999998 m 508 128.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458 126.39999999999998 m 508 126.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 142.39999999999998 m 562 142.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 128.39999999999998 m 562 128.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 126.39999999999998 m 562 126.39999999999998 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 215.80 325.63 Td (Segment Reorganization Plan) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.35 325.63 Td (2014 Initiatives) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 200.70 312.63 Td (Employee) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 192.10 304.63 Td (Termination) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 215.80 296.63 Td (Costs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 251.95 304.63 Td (Other Exit) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 269.80 296.63 Td (Costs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.00 296.63 Td (Total) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.70 312.63 Td (Employee) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.10 304.63 Td (Termination) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 377.80 296.63 Td (Costs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 413.95 304.63 Td (Other Exit) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 431.80 296.63 Td (Costs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.00 296.63 Td (Total) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 535.80 304.63 Td (Grand) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 541.00 296.63 Td (T) Tj ET Q q 0 0 0 rg BT 545.60 296.63 Td (otal) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 281.63 Td (Balance, December 31, 2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 190.50 281.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 226.80 281.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 244.50 281.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 280.80 281.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 334.80 281.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 352.50 281.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 388.80 281.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 406.50 281.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.80 281.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.50 281.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.80 281.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.50 281.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 550.80 281.63 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 266.65 Td (Costs incurred) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 212.75 266.65 Td (17,715) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 276.80 266.65 Td (797) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 320.75 266.65 Td (18,512) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.80 266.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 266.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 266.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 266.65 Td (18,512) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 251.65 Td (Non-cash settled ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 107.04 255.28 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 214.10 251.65 Td (\(1,919) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 234.80 251.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.80 251.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.10 251.65 Td (\(1,919) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 342.80 251.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.80 251.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 251.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 251.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.10 251.65 Td (\(1,919) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 251.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 236.65 Td (Cash paid) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 210.10 236.65 Td (\(13,060) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 234.80 236.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.10 236.65 Td (\(181) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.80 236.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 318.10 236.65 Td (\(13,241) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 342.80 236.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.80 236.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 236.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 236.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 236.65 Td (\(13,241) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 236.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 221.65 Td (Foreign currency movements) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 224.10 221.65 Td (\(65) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 234.80 221.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.80 221.65 Td (15) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.10 221.65 Td (\(50) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 342.80 221.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.80 221.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 221.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 221.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 548.10 221.65 Td (\(50) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 221.65 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 206.63 Td (Balance, December 31, 2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 190.50 206.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 216.75 206.63 Td (2,671) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 244.50 206.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 276.80 206.63 Td (631) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 298.50 206.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.75 206.63 Td (3,302) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 352.50 206.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 388.80 206.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 406.50 206.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.80 206.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.50 206.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.80 206.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.50 206.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.75 206.63 Td (3,302) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 191.65 Td (Costs incurred) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.80 191.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.80 191.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 334.80 191.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.75 191.65 Td (10,033) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.80 191.65 Td (383) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.75 191.65 Td (10,416) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 191.65 Td (10,416) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 176.65 Td (Cash paid) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 214.10 176.65 Td (\(2,671) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 234.80 176.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.10 176.65 Td (\(82) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.80 176.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.10 176.65 Td (\(2,753) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 342.80 176.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.10 176.65 Td (\(8,648) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.80 176.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.10 176.65 Td (\(206) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.80 176.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.10 176.65 Td (\(8,854) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 504.80 176.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 176.65 Td (\(11,607) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 176.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 161.65 Td (Accrual reversal) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.80 161.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.10 161.65 Td (\(560) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.80 161.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.10 161.65 Td (\(560) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 342.80 161.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.80 161.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 161.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 161.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.10 161.65 Td (\(560) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 161.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 146.65 Td (Foreign currency movements) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.80 146.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.80 146.65 Td (11) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 334.80 146.65 Td (11) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.80 146.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.10 146.65 Td (\(4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.80 146.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 498.10 146.65 Td (\(4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 504.80 146.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.80 146.65 Td (7) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 131.63 Td (Balance, December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 190.50 131.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 226.80 131.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 244.50 131.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 280.80 131.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 298.50 131.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 334.80 131.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 352.50 131.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 378.75 131.63 Td (1,385) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 406.50 131.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.80 131.63 Td (173) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.50 131.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.75 131.63 Td (1,558) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.50 131.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.75 131.63 Td (1,558) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 115.30 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 58.83 118.92 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 115.30 Td (Reflects ) Tj ET Q q 0 0 0 rg BT 95.71 115.30 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 138.59 115.30 Td (char) Tj ET Q q 0 0 0 rg BT 152.21 115.30 Td (ges ) Tj ET Q q 0 0 0 rg BT 164.87 115.30 Td (due ) Tj ET Q q 0 0 0 rg BT 178.42 115.30 Td (to ) Tj ET Q q 0 0 0 rg BT 186.64 115.30 Td (acceleration ) Tj ET Q q 0 0 0 rg BT 227.28 115.30 Td (of ) Tj ET Q q 0 0 0 rg BT 235.95 115.30 Td (stock-based ) Tj ET Q q 0 0 0 rg BT 275.71 115.30 Td (compensation ) Tj ET Q q 0 0 0 rg BT 322.14 115.30 Td (awards.) Tj ET Q endstream endobj 145 0 obj <>] /Rotate 0 /Contents 146 0 R>> endobj 146 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (70) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 723.50 Td (A) Tj ET Q q 0 0 0 rg BT 54.84 723.50 Td ( ) Tj ET Q q 0 0 0 rg BT 56.84 723.50 Td (summary ) Tj ET Q q 0 0 0 rg BT 88.61 723.50 Td (of ) Tj ET Q q 0 0 0 rg BT 97.27 723.50 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 140.15 723.50 Td (char) Tj ET Q q 0 0 0 rg BT 153.77 723.50 Td (ges ) Tj ET Q q 0 0 0 rg BT 166.43 723.50 Td (for ) Tj ET Q q 0 0 0 rg BT 177.76 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 189.54 723.50 Td (years ) Tj ET Q q 0 0 0 rg BT 208.41 723.50 Td (ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 229.52 723.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 276.38 723.50 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.38 723.50 Td ( ) Tj ET Q q 0 0 0 rg BT 294.38 723.50 Td (and ) Tj ET Q q 0 0 0 rg BT 307.93 723.50 Td (2013 ) Tj ET Q q 0 0 0 rg BT 325.93 723.50 Td (by ) Tj ET Q q 0 0 0 rg BT 335.93 723.50 Td (operating ) Tj ET Q q 0 0 0 rg BT 368.14 723.50 Td (segment ) Tj ET Q q 0 0 0 rg BT 396.80 723.50 Td (is ) Tj ET Q q 0 0 0 rg BT 404.14 723.50 Td (as ) Tj ET Q q 0 0 0 rg BT 412.80 723.50 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 658.00 139.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 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0.9333333333333333 1 rg /GS0 gs 512.00 598.00 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 568.00 139.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 568.00 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 238.00 568.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.00 568.00 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.00 568.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.00 568.00 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 568.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 568.00 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.00 568.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.00 568.00 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 568.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.00 568.00 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 568.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 568.00 50.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 238 700 m 242 700 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 242 700 m 292 700 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 292 700 m 296 700 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 296 700 m 346 700 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 346 700 m 350 700 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 350 700 m 400 700 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 400 700 m 404 700 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 404 700 m 454 700 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 454 700 m 458 700 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 458 700 m 508 700 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 508 700 m 512 700 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 512 700 m 562 700 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 188 700 m 238 700 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 188 687 m 238 687 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 238 687 m 242 687 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 242 687 m 292 687 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 292 687 m 296 687 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 296 687 m 346 687 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 346 687 m 350 687 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 350 687 m 400 687 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 404 700 m 454 700 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 404 687 m 454 687 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 454 700 m 458 700 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 454 687 m 458 687 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 458 700 m 508 700 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 458 687 m 508 687 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 508 700 m 512 700 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 508 687 m 512 687 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 512 700 m 562 700 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 512 687 m 562 687 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 296 658 m 346 658 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 404 687 m 454 687 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 404 658 m 454 658 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 454 687 m 458 687 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 458 687 m 508 687 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 458 658 m 508 658 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 508 687 m 512 687 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 512 687 m 562 687 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 512 658 m 562 658 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 188 658 m 238 658 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 242 658 m 292 658 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 296 658 m 346 658 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 350 658 m 400 658 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 404 658 m 454 658 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 458 658 m 508 658 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 512 658 m 562 658 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296 553 m 346 553 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 553 m 400 553 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 553 m 454 553 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458 553 m 508 553 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 553 m 562 553 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 188 553 m 238 553 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 188 541 m 238 541 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 188 539 m 238 539 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242 553 m 292 553 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242 541 m 292 541 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242 539 m 292 539 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296 553 m 346 553 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296 541 m 346 541 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296 539 m 346 539 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 553 m 400 553 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 541 m 400 541 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 539 m 400 539 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 553 m 454 553 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 541 m 454 541 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 539 m 454 539 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458 553 m 508 553 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458 541 m 508 541 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458 539 m 508 539 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 553 m 562 553 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 541 m 562 541 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 539 m 562 539 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.25 704.23 Td (For The Year Ending December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 285.50 691.23 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 474.50 691.23 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 200.70 678.23 Td (Employee) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 192.10 670.23 Td (Termination) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 215.80 662.23 Td (Costs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 251.95 670.23 Td (Other Exit) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 269.80 662.23 Td (Costs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 315.35 670.23 Td (Accrual) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.70 662.23 Td (Reversal) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 379.00 662.23 Td (Total) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 416.70 678.23 Td (Employee) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.10 670.23 Td (Termination) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 431.80 662.23 Td (Costs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.95 670.23 Td (Other Exit) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.80 662.23 Td (Costs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 541.00 662.23 Td (Total) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 647.25 Td (Bulgaria) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 190.50 647.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 216.75 647.25 Td (3,312) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 244.50 647.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.80 647.25 Td (80) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.50 647.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 334.80 647.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.50 647.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 378.75 647.25 Td (3,392) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.50 647.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.80 647.25 Td (447) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.50 647.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 647.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 514.50 647.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 647.25 Td (447) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 632.25 Td (Croatia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.80 632.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.80 632.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 334.80 632.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.80 632.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.80 632.25 Td (95) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 632.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 632.25 Td (95) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 617.25 Td (Czech ) Tj ET Q q 0 0 0 rg BT 73.49 617.25 Td (Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 216.75 617.25 Td (1,861) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.80 617.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 334.80 617.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 378.75 617.25 Td (1,861) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.75 617.25 Td (2,316) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 617.25 Td (68) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.75 617.25 Td (2,384) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 602.25 Td (Romania) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 216.75 602.25 Td (4,149) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.80 602.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 334.80 602.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 378.75 602.25 Td (4,149) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.75 602.25 Td (1,610) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 602.25 Td (2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.75 602.25 Td (1,612) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 587.25 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 75.72 587.25 Td (Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 222.80 587.25 Td (429) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.80 587.25 Td (23) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.10 587.25 Td (\(560) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 342.80 587.25 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.10 587.25 Td (\(108) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.80 587.25 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.75 587.25 Td (1,943) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 587.25 Td (630) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.75 587.25 Td (2,573) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 572.25 Td (Slovenia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 222.80 572.25 Td (282) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.80 572.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 334.80 572.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 384.80 572.25 Td (282) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.80 572.25 Td (996) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 572.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 572.25 Td (996) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 557.25 Td (Corporate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.80 557.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 276.80 557.25 Td (280) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 334.80 557.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 384.80 557.25 Td (280) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.75 557.25 Td (10,308) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 557.25 Td (97) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 557.25 Td (10,405) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 544.23 Td (Total restructuring costs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 190.50 544.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 212.75 544.23 Td (10,033) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 244.50 544.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 276.80 544.23 Td (383) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 298.50 544.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 328.10 544.23 Td (\(560) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 342.80 544.23 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 352.50 544.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 378.75 544.23 Td (9,856) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 406.50 544.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 428.75 544.23 Td (17,715) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.50 544.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 544.23 Td (797) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.50 544.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.75 544.23 Td (18,512) Tj ET Q BT /F1 8.00 Tf ET BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 503.30 Td (16. ) Tj ET Q q 0 0 0 rg BT 67.50 503.30 Td (INTEREST) Tj ET Q q 0 0 0 rg BT 107.82 503.30 Td ( ) Tj ET Q q 0 0 0 rg BT 109.82 503.30 Td (EXPENSE) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 487.70 Td (Interest ) Tj ET Q q 0 0 0 rg BT 75.49 487.70 Td (expense ) Tj ET Q q 0 0 0 rg BT 103.25 487.70 Td (comprised ) Tj ET Q q 0 0 0 rg BT 138.58 487.70 Td (the ) Tj ET Q q 0 0 0 rg BT 150.35 487.70 Td (following ) Tj ET Q q 0 0 0 rg BT 183.46 487.70 Td (for ) Tj ET Q q 0 0 0 rg BT 194.79 487.70 Td (the ) Tj ET Q q 0 0 0 rg BT 206.56 487.70 Td (years ) Tj ET Q q 0 0 0 rg BT 225.44 487.70 Td (ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 246.54 487.70 Td (December31, ) Tj ET Q q 0 0 0 rg BT 293.41 487.70 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 309.41 487.70 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.41 487.70 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 329.41 487.70 Td ( ) Tj ET Q q 0 0 0 rg BT 331.41 487.70 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.96 487.70 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 360.96 487.70 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 449.20 318.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 449.20 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 449.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 449.20 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 449.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 449.20 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 419.20 318.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 419.20 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 419.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 419.20 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 419.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 419.20 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 389.20 318.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 389.20 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 389.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 389.20 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 389.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 389.20 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 359.20 318.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 359.20 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 359.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 359.20 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 359.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 359.20 62.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 368 464.2 m 430 464.2 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 430 464.2 m 434 464.2 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 434 464.2 m 496 464.2 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496 464.2 m 500 464.2 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 500 464.2 m 562 464.2 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 368 464.2 m 430 464.2 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 368 449.2 m 430 449.2 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 434 464.2 m 496 464.2 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 434 449.2 m 496 449.2 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 500 464.2 m 562 464.2 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 500 449.2 m 562 449.2 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 368 449.2 m 430 449.2 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 434 449.2 m 496 449.2 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 500 449.2 m 562 449.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 419.2 m 430 419.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 419.2 m 496 419.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 419.2 m 562 419.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 359.2 m 430 359.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 359.2 m 496 359.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 359.2 m 562 359.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 344.2 m 430 344.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 330.2 m 430 330.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 328.2 m 430 328.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 344.2 m 496 344.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 330.2 m 496 330.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 328.2 m 496 328.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 344.2 m 562 344.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 330.2 m 562 330.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 328.2 m 562 328.2 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 468.45 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 404.25 468.43 Td (For The Year Ending December 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 453.45 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 410.50 453.43 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.50 453.43 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 542.50 453.43 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 438.45 Td (Interest ) Tj ET Q q 0 0 0 rg BT 78.49 438.45 Td (on ) Tj ET Q q 0 0 0 rg BT 88.49 438.45 Td (Senior ) Tj ET Q q 0 0 0 rg BT 111.38 438.45 Td (Debt) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.50 438.45 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.80 438.45 Td (102,379) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.50 438.45 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 470.80 438.45 Td (99,641) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.50 438.45 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 438.45 Td (103,223) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 423.45 Td (Interest on capital leases and other financing arrangements) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.80 423.45 Td (2,191) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.80 423.45 Td (679) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 423.45 Td (4,331) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 408.45 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 400.80 408.43 Td (104,570) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.80 408.43 Td (100,320) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.80 408.43 Td (107,554) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 378.45 Td (Amortization ) Tj ET Q q 0 0 0 rg BT 97.16 378.45 Td (of ) Tj ET Q q 0 0 0 rg BT 105.82 378.45 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 142.46 378.45 Td (debt ) Tj ET Q q 0 0 0 rg BT 158.24 378.45 Td (issuance ) Tj ET Q q 0 0 0 rg BT 187.34 378.45 Td (costs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.80 378.45 Td (18,297) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.80 378.45 Td (4,101) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 378.45 Td (14,101) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 363.45 Td (Amortization ) Tj ET Q q 0 0 0 rg BT 97.16 363.45 Td (of ) Tj ET Q q 0 0 0 rg BT 105.82 363.45 Td (debt ) Tj ET Q q 0 0 0 rg BT 121.59 363.45 Td (issuance ) Tj ET Q q 0 0 0 rg BT 150.70 363.45 Td (discount ) Tj ET Q q 0 0 0 rg BT 179.80 363.45 Td (and ) Tj ET Q q 0 0 0 rg BT 193.36 363.45 Td (premium, ) Tj ET Q q 0 0 0 rg BT 226.24 363.45 Td (net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.80 363.45 Td (19,138) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.80 363.45 Td (7,288) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 363.45 Td (5,999) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 348.45 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 404.80 348.43 Td (37,435) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.80 348.43 Td (11,389) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.80 348.43 Td (20,100) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 333.43 Td (T) Tj ET Q q 0 0 0 rg BT 57.10 333.43 Td (otal ) Tj ET Q q 0 0 0 rg BT 71.99 333.43 Td (inter) Tj ET Q q 0 0 0 rg BT 88.28 333.43 Td (est ) Tj ET Q q 0 0 0 rg BT 99.61 333.43 Td (expense) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 370.50 333.43 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 400.80 333.43 Td (142,005) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.50 333.43 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.80 333.43 Td (111,709) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 502.50 333.43 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.80 333.43 Td (127,654) Tj ET Q BT /F1 8.00 Tf ET BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 308.10 Td (17. ) Tj ET Q q 0 0 0 rg BT 67.50 308.10 Td (ST) Tj ET Q q 0 0 0 rg BT 77.14 308.10 Td (OCK-BASED ) Tj ET Q q 0 0 0 rg BT 126.70 308.10 Td (COMPENSA) Tj ET Q q 0 0 0 rg BT 171.89 308.10 Td (TION) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 292.50 Td (7,500,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.50 292.50 Td ( ) Tj ET Q q 0 0 0 rg BT 83.82 292.50 Td (shares ) Tj ET Q q 0 0 0 rg BT 106.14 292.50 Td (have ) Tj ET Q q 0 0 0 rg BT 123.57 292.50 Td (been ) Tj ET Q q 0 0 0 rg BT 140.99 292.50 Td (authorized ) Tj ET Q q 0 0 0 rg BT 177.08 292.50 Td (for ) Tj ET Q q 0 0 0 rg BT 188.73 292.50 Td (issuance ) Tj ET Q q 0 0 0 rg BT 218.16 292.50 Td (in ) Tj ET Q q 0 0 0 rg BT 226.70 292.50 Td (respect ) Tj ET Q q 0 0 0 rg BT 251.68 292.50 Td (of ) Tj ET Q q 0 0 0 rg BT 260.67 292.50 Td (equity ) Tj ET Q q 0 0 0 rg BT 282.99 292.50 Td (awards ) Tj ET Q q 0 0 0 rg BT 307.97 292.50 Td (under ) Tj ET Q q 0 0 0 rg BT 328.51 292.50 Td (our ) Tj ET Q q 0 0 0 rg BT 340.98 292.50 Td (Amended ) Tj ET Q q 0 0 0 rg BT 374.41 292.50 Td (and ) Tj ET Q q 0 0 0 rg BT 388.28 292.50 Td (Restated ) Tj ET Q q 0 0 0 rg BT 418.15 292.50 Td (Stock ) Tj ET Q q 0 0 0 rg BT 438.70 292.50 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 470.79 292.50 Td (Plan ) Tj ET Q q 0 0 0 rg BT 487.33 292.50 Td (\(the ) Tj ET Q q 0 0 0 rg BT 505.65 292.50 Td (Plan\). ) Tj ET Q q 0 0 0 rg BT 530.41 292.50 Td (Under ) Tj ET Q q 0 0 0 rg BT 552.73 292.50 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 282.90 Td (Plan, ) Tj ET Q q 0 0 0 rg BT 67.66 282.90 Td (awards ) Tj ET Q q 0 0 0 rg BT 92.25 282.90 Td (are ) Tj ET Q q 0 0 0 rg BT 103.95 282.90 Td (made ) Tj ET Q q 0 0 0 rg BT 123.20 282.90 Td (to ) Tj ET Q q 0 0 0 rg BT 131.36 282.90 Td (employees ) Tj ET Q q 0 0 0 rg BT 167.50 282.90 Td (at ) Tj ET Q q 0 0 0 rg BT 175.21 282.90 Td (the ) Tj ET Q q 0 0 0 rg BT 186.92 282.90 Td (discretion ) Tj ET Q q 0 0 0 rg BT 220.40 282.90 Td (of ) Tj ET Q q 0 0 0 rg BT 229.00 282.90 Td (the ) Tj ET Q q 0 0 0 rg BT 240.70 282.90 Td (Compensation ) Tj ET Q q 0 0 0 rg BT 288.86 282.90 Td (Committee ) Tj ET Q q 0 0 0 rg BT 326.34 282.90 Td (and ) Tj ET Q q 0 0 0 rg BT 339.82 282.90 Td (to ) Tj ET Q q 0 0 0 rg BT 347.98 282.90 Td (directors ) Tj ET Q q 0 0 0 rg BT 377.90 282.90 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 407.39 282.90 Td (to ) Tj ET Q q 0 0 0 rg BT 415.54 282.90 Td (an ) Tj ET Q q 0 0 0 rg BT 425.03 282.90 Td (annual ) Tj ET Q q 0 0 0 rg BT 448.29 282.90 Td (automatic ) Tj ET Q q 0 0 0 rg BT 481.76 282.90 Td (grant ) Tj ET Q q 0 0 0 rg BT 500.13 282.90 Td (under ) Tj ET Q q 0 0 0 rg BT 520.28 282.90 Td (the ) Tj ET Q q 0 0 0 rg BT 531.99 282.90 Td (Plan ) Tj ET Q q 0 0 0 rg BT 548.14 282.90 Td (or ) Tj ET Q q 0 0 0 rg BT 556.74 282.90 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 273.30 Td (the ) Tj ET Q q 0 0 0 rg BT 61.27 273.30 Td (discretion ) Tj ET Q q 0 0 0 rg BT 94.82 273.30 Td (of ) Tj ET Q q 0 0 0 rg BT 103.48 273.30 Td (the ) Tj ET Q q 0 0 0 rg BT 115.26 273.30 Td (Board ) Tj ET Q q 0 0 0 rg BT 136.81 273.30 Td (of ) Tj ET Q q 0 0 0 rg BT 145.47 273.30 Td (Directors.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 257.70 Td (The ) Tj ET Q q 0 0 0 rg BT 63.94 257.70 Td (char) Tj ET Q q 0 0 0 rg BT 77.56 257.70 Td (ge ) Tj ET Q q 0 0 0 rg BT 87.11 257.70 Td (for ) Tj ET Q q 0 0 0 rg BT 98.44 257.70 Td (stock-based ) Tj ET Q q 0 0 0 rg BT 138.20 257.70 Td (compensation ) Tj ET Q q 0 0 0 rg BT 184.64 257.70 Td (in ) Tj ET Q q 0 0 0 rg BT 192.86 257.70 Td (our ) Tj ET Q q 0 0 0 rg BT 205.52 257.70 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 247.96 257.70 Td (statements ) Tj ET Q q 0 0 0 rg BT 283.73 257.70 Td (of ) Tj ET Q q 0 0 0 rg BT 292.39 257.70 Td (operations ) Tj ET Q q 0 0 0 rg BT 327.71 257.70 Td (was ) Tj ET Q q 0 0 0 rg BT 342.16 257.70 Td (as ) Tj ET Q q 0 0 0 rg BT 350.82 257.70 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 219.20 318.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 219.20 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 219.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 219.20 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 219.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 219.20 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 189.20 318.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 189.20 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 189.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 189.20 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 189.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 189.20 62.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 368 234.20000000000005 m 430 234.20000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 430 234.20000000000005 m 434 234.20000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 434 234.20000000000005 m 496 234.20000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496 234.20000000000005 m 500 234.20000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 500 234.20000000000005 m 562 234.20000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 368 234.20000000000005 m 430 234.20000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 368 219.20000000000005 m 430 219.20000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 434 234.20000000000005 m 496 234.20000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 434 219.20000000000005 m 496 219.20000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 500 234.20000000000005 m 562 234.20000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 500 219.20000000000005 m 562 219.20000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 368 219.20000000000005 m 430 219.20000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 434 219.20000000000005 m 496 219.20000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 500 219.20000000000005 m 562 219.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 189.20000000000005 m 430 189.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 175.20000000000005 m 430 175.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 173.20000000000005 m 430 173.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 189.20000000000005 m 496 189.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 175.20000000000005 m 496 175.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 173.20000000000005 m 496 173.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 189.20000000000005 m 562 189.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 175.20000000000005 m 562 175.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 173.20000000000005 m 562 173.20000000000005 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 238.45 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 404.25 238.43 Td (For The Year Ending December 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 223.45 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 410.50 223.43 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.50 223.43 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 542.50 223.43 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 208.45 Td (Selling, ) Tj ET Q q 0 0 0 rg BT 79.17 208.45 Td (general ) Tj ET Q q 0 0 0 rg BT 104.71 208.45 Td (and ) Tj ET Q q 0 0 0 rg BT 118.26 208.45 Td (administrative ) Tj ET Q q 0 0 0 rg BT 166.02 208.45 Td (expenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.50 208.45 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.80 208.45 Td (1,344) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.50 208.45 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.80 208.45 Td (4,197) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.50 208.45 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 208.45 Td (4,249) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 193.45 Td (Restructuring costs \(Note 15\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.80 193.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.80 193.45 Td (1,919) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 193.45 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 178.43 Td (Total stock-based compensation charge) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 370.50 178.43 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.80 178.43 Td (1,344) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.50 178.43 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 474.80 178.43 Td (6,116) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 502.50 178.43 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.80 178.43 Td (4,249) Tj ET Q BT /F1 8.00 Tf ET endstream endobj 147 0 obj <>] /Rotate 0 /Contents 148 0 R>> endobj 148 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (71) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 723.45 Td (Stock ) Tj ET Q q 0 0 0 rg BT 68.82 723.45 Td (Options) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 707.85 Td (Grants ) Tj ET Q q 0 0 0 rg BT 72.75 707.85 Td (of ) Tj ET Q q 0 0 0 rg BT 81.34 707.85 Td (options ) Tj ET Q q 0 0 0 rg BT 106.82 707.85 Td (allow ) Tj ET Q q 0 0 0 rg BT 126.51 707.85 Td (the ) Tj ET Q q 0 0 0 rg BT 138.21 707.85 Td (holders ) Tj ET Q q 0 0 0 rg BT 163.68 707.85 Td (to ) Tj ET Q q 0 0 0 rg BT 171.82 707.85 Td (purchase ) Tj ET Q q 0 0 0 rg BT 202.18 707.85 Td (shares ) Tj ET Q q 0 0 0 rg BT 224.09 707.85 Td (of ) Tj ET Q q 0 0 0 rg BT 232.68 707.85 Td (Class ) Tj ET Q q 0 0 0 rg BT 251.51 707.85 Td (A) Tj ET Q q 0 0 0 rg BT 256.85 707.85 Td ( ) Tj ET Q q 0 0 0 rg BT 258.77 707.85 Td (common ) Tj ET Q q 0 0 0 rg BT 288.69 707.85 Td (stock ) Tj ET Q q 0 0 0 rg BT 307.49 707.85 Td (at ) Tj ET Q q 0 0 0 rg BT 315.19 707.85 Td (an ) Tj ET Q q 0 0 0 rg BT 324.66 707.85 Td (exercise ) Tj ET Q q 0 0 0 rg BT 352.79 707.85 Td (price, ) Tj ET Q q 0 0 0 rg BT 372.70 707.85 Td (which ) Tj ET Q q 0 0 0 rg BT 394.17 707.85 Td (is ) Tj ET Q q 0 0 0 rg BT 401.43 707.85 Td (generally ) Tj ET Q q 0 0 0 rg BT 433.11 707.85 Td (the ) Tj ET Q q 0 0 0 rg BT 444.81 707.85 Td (market ) Tj ET Q q 0 0 0 rg BT 468.94 707.85 Td (price ) Tj ET Q q 0 0 0 rg BT 486.85 707.85 Td (prevailing ) Tj ET Q q 0 0 0 rg BT 521.20 707.85 Td (at ) Tj ET Q q 0 0 0 rg BT 528.90 707.85 Td (the ) Tj ET Q q 0 0 0 rg BT 540.60 707.85 Td (date ) Tj ET Q q 0 0 0 rg BT 555.84 707.85 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (the ) Tj ET Q q 0 0 0 rg BT 61.20 698.25 Td (grant, ) Tj ET Q q 0 0 0 rg BT 81.56 698.25 Td (with ) Tj ET Q q 0 0 0 rg BT 97.71 698.25 Td (vesting ) Tj ET Q q 0 0 0 rg BT 122.74 698.25 Td (between ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 151.32 698.25 Td (one) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 162.87 698.25 Td ( ) Tj ET Q q 0 0 0 rg BT 164.79 698.25 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 178.27 698.25 Td (four) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 191.60 698.25 Td ( ) Tj ET Q q 0 0 0 rg BT 193.52 698.25 Td (years ) Tj ET Q q 0 0 0 rg BT 212.33 698.25 Td (after ) Tj ET Q q 0 0 0 rg BT 228.90 698.25 Td (the ) Tj ET Q q 0 0 0 rg BT 240.60 698.25 Td (awards ) Tj ET Q q 0 0 0 rg BT 265.18 698.25 Td (are ) Tj ET Q q 0 0 0 rg BT 276.87 698.25 Td (granted. ) Tj ET Q q 0 0 0 rg BT 304.36 698.25 Td (A) Tj ET Q q 0 0 0 rg BT 309.70 698.25 Td ( ) Tj ET Q q 0 0 0 rg BT 311.62 698.25 Td (summary ) Tj ET Q q 0 0 0 rg BT 343.32 698.25 Td (of ) Tj ET Q q 0 0 0 rg BT 351.91 698.25 Td (option ) Tj ET Q q 0 0 0 rg BT 374.28 698.25 Td (activity ) Tj ET Q q 0 0 0 rg BT 400.20 698.25 Td (for ) Tj ET Q q 0 0 0 rg BT 411.45 698.25 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.15 698.25 Td (year) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.91 698.25 Td ( ) Tj ET Q q 0 0 0 rg BT 438.84 698.25 Td (ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 459.87 698.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 506.66 698.25 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 522.66 698.25 Td ( ) Tj ET Q q 0 0 0 rg BT 524.58 698.25 Td (is ) Tj ET Q q 0 0 0 rg BT 531.84 698.25 Td (presented ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 688.65 Td (below:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 641.15 225.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.00 641.15 68.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 641.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 641.15 69.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 641.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 641.15 69.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 641.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 641.15 69.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 614.15 225.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.00 614.15 68.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 614.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 614.15 69.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 614.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 614.15 69.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 614.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 614.15 69.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 588.15 225.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.00 588.15 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 588.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.00 588.15 69.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 588.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 588.15 69.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 588.15 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 588.15 69.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 275 641.15 m 343 641.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 347 641.15 m 416 641.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 420 641.15 m 489 641.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493 641.15 m 562 641.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 275 641.15 m 343 641.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 347 641.15 m 416 641.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 420 641.15 m 489 641.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493 641.15 m 562 641.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275 601.15 m 343 601.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 601.15 m 416 601.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 601.15 m 489 601.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 601.15 m 562 601.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275 574.15 m 343 574.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275 562.15 m 343 562.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275 560.15 m 343 560.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 574.15 m 416 574.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 562.15 m 416 562.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 560.15 m 416 560.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 574.15 m 489 574.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 562.15 m 489 562.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 560.15 m 489 560.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 574.15 m 562 574.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 562.15 m 562 562.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 560.15 m 562 560.15 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 645.40 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 316.50 645.38 Td (Shares) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.65 661.38 Td (Weighted Average) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.60 653.38 Td (Exercise Price per) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 392.60 645.38 Td (Share) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.65 669.38 Td (Weighted Average) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 448.15 661.38 Td (Remaining) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.90 653.38 Td (Contractual Term) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.95 645.38 Td (\(years\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.55 653.38 Td (Aggregate) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 508.00 645.38 Td (Intrinsic Value) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 632.38 Td (Outstanding at January 1, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 313.80 632.38 Td (390,500) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.50 632.38 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.80 632.38 Td (27.26) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.50 632.38 Td (1.40) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 495.50 632.38 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 550.80 632.38 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 618.40 Td (Forfeited) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.10 618.40 Td (\(114,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.80 618.40 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.80 618.40 Td (30.87) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 605.40 Td (Expired) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.10 605.40 Td (\(121,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.80 605.40 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.50 605.40 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.80 605.40 Td (20.48) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 592.38 Td (Outstanding ) Tj ET Q q 0 0 0 rg BT 97.18 592.38 Td (at ) Tj ET Q q 0 0 0 rg BT 105.85 592.38 Td (December) Tj ET Q q 0 0 0 rg BT 140.42 592.38 Td ( ) Tj ET Q q 0 0 0 rg BT 142.35 592.38 Td (31, ) Tj ET Q q 0 0 0 rg BT 154.35 592.38 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 313.50 592.38 Td (155,000) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.50 592.38 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.80 592.38 Td (29.88) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.50 592.38 Td (0.92) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 495.50 592.38 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 550.80 592.38 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 578.40 Td (V) Tj ET Q q 0 0 0 rg BT 57.39 578.40 Td (ested ) Tj ET Q q 0 0 0 rg BT 75.83 578.40 Td (or ) Tj ET Q q 0 0 0 rg BT 84.49 578.40 Td (expected ) Tj ET Q q 0 0 0 rg BT 114.92 578.40 Td (to ) Tj ET Q q 0 0 0 rg BT 123.14 578.40 Td (vest) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.80 578.40 Td (155,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.80 578.40 Td (29.88) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.50 578.40 Td (0.92) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 578.40 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 565.38 Td (Exer) Tj ET Q q 0 0 0 rg BT 68.79 565.38 Td (cisable ) Tj ET Q q 0 0 0 rg BT 93.90 565.38 Td (at ) Tj ET Q q 0 0 0 rg BT 102.57 565.38 Td (December) Tj ET Q q 0 0 0 rg BT 137.07 565.38 Td ( ) Tj ET Q q 0 0 0 rg BT 139.07 565.38 Td (31, ) Tj ET Q q 0 0 0 rg BT 151.07 565.38 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 313.80 565.38 Td (155,000) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.50 565.38 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.80 565.38 Td (29.88) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.50 565.38 Td (0.92) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 495.50 565.38 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 550.80 565.38 Td () Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 546.05 Td (When ) Tj ET Q q 0 0 0 rg BT 70.46 546.05 Td (options ) Tj ET Q q 0 0 0 rg BT 95.87 546.05 Td (are ) Tj ET Q q 0 0 0 rg BT 107.50 546.05 Td (vested, ) Tj ET Q q 0 0 0 rg BT 131.79 546.05 Td (holders ) Tj ET Q q 0 0 0 rg BT 157.20 546.05 Td (may ) Tj ET Q q 0 0 0 rg BT 172.83 546.05 Td (exercise ) Tj ET Q q 0 0 0 rg BT 200.89 546.05 Td (them ) Tj ET Q q 0 0 0 rg BT 218.74 546.05 Td (at ) Tj ET Q q 0 0 0 rg BT 226.37 546.05 Td (any ) Tj ET Q q 0 0 0 rg BT 239.78 546.05 Td (time ) Tj ET Q q 0 0 0 rg BT 255.85 546.05 Td (up ) Tj ET Q q 0 0 0 rg BT 265.71 546.05 Td (to ) Tj ET Q q 0 0 0 rg BT 273.79 546.05 Td (the ) Tj ET Q q 0 0 0 rg BT 285.42 546.05 Td (maximum ) Tj ET Q q 0 0 0 rg BT 319.71 546.05 Td (contractual ) Tj ET Q q 0 0 0 rg BT 357.11 546.05 Td (life ) Tj ET Q q 0 0 0 rg BT 369.62 546.05 Td (of ) Tj ET Q q 0 0 0 rg BT 378.14 546.05 Td (the ) Tj ET Q q 0 0 0 rg BT 389.77 546.05 Td (instrument ) Tj ET Q q 0 0 0 rg BT 425.85 546.05 Td (which ) Tj ET Q q 0 0 0 rg BT 447.25 546.05 Td (is ) Tj ET Q q 0 0 0 rg BT 454.45 546.05 Td (specified ) Tj ET Q q 0 0 0 rg BT 485.18 546.05 Td (in ) Tj ET Q q 0 0 0 rg BT 493.26 546.05 Td (the ) Tj ET Q q 0 0 0 rg BT 504.89 546.05 Td (option ) Tj ET Q q 0 0 0 rg BT 527.19 546.05 Td (agreement. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 536.45 Td (At ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.04 536.45 Td (December31, ) Tj ET Q q 0 0 0 rg BT 105.44 536.45 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 121.44 536.45 Td (, ) Tj ET Q q 0 0 0 rg BT 124.98 536.45 Td (the ) Tj ET Q q 0 0 0 rg BT 136.29 536.45 Td (maximum ) Tj ET Q q 0 0 0 rg BT 170.27 536.45 Td (life ) Tj ET Q q 0 0 0 rg BT 182.47 536.45 Td (of ) Tj ET Q q 0 0 0 rg BT 190.67 536.45 Td (options ) Tj ET Q q 0 0 0 rg BT 215.77 536.45 Td (that ) Tj ET Q q 0 0 0 rg BT 229.30 536.45 Td (had ) Tj ET Q q 0 0 0 rg BT 242.39 536.45 Td (been ) Tj ET Q q 0 0 0 rg BT 259.03 536.45 Td (issued ) Tj ET Q q 0 0 0 rg BT 280.57 536.45 Td (under ) Tj ET Q q 0 0 0 rg BT 300.32 536.45 Td (the ) Tj ET Q q 0 0 0 rg BT 311.63 536.45 Td (Plan ) Tj ET Q q 0 0 0 rg BT 327.40 536.45 Td (was ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 341.38 536.45 Td (ten ) Tj ET Q q 0 0 0 rg BT 352.69 536.45 Td (years) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 369.57 536.45 Td (. ) Tj ET Q q 0 0 0 rg BT 373.10 536.45 Td (Upon ) Tj ET Q q 0 0 0 rg BT 392.42 536.45 Td (providing ) Tj ET Q q 0 0 0 rg BT 425.07 536.45 Td (the ) Tj ET Q q 0 0 0 rg BT 436.38 536.45 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 474.34 536.45 Td (written ) Tj ET Q q 0 0 0 rg BT 498.54 536.45 Td (notification, ) Tj ET Q q 0 0 0 rg BT 538.96 536.45 Td (holders ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 526.85 Td (pay ) Tj ET Q q 0 0 0 rg BT 63.05 526.85 Td (the ) Tj ET Q q 0 0 0 rg BT 74.82 526.85 Td (exercise ) Tj ET Q q 0 0 0 rg BT 103.03 526.85 Td (price ) Tj ET Q q 0 0 0 rg BT 121.02 526.85 Td (and ) Tj ET Q q 0 0 0 rg BT 134.57 526.85 Td (receive ) Tj ET Q q 0 0 0 rg BT 159.66 526.85 Td (shares. ) Tj ET Q q 0 0 0 rg BT 183.65 526.85 Td (Shares ) Tj ET Q q 0 0 0 rg BT 206.98 526.85 Td (delivered ) Tj ET Q q 0 0 0 rg BT 238.74 526.85 Td (under ) Tj ET Q q 0 0 0 rg BT 258.95 526.85 Td (the ) Tj ET Q q 0 0 0 rg BT 270.73 526.85 Td (Plan ) Tj ET Q q 0 0 0 rg BT 286.95 526.85 Td (are ) Tj ET Q q 0 0 0 rg BT 298.71 526.85 Td (newly ) Tj ET Q q 0 0 0 rg BT 320.27 526.85 Td (issued ) Tj ET Q q 0 0 0 rg BT 342.27 526.85 Td (shares. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 511.25 Td (The ) Tj ET Q q 0 0 0 rg BT 63.56 511.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 76.29 511.25 Td (value ) Tj ET Q q 0 0 0 rg BT 95.23 511.25 Td (of ) Tj ET Q q 0 0 0 rg BT 103.52 511.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 122.03 511.25 Td (options ) Tj ET Q q 0 0 0 rg BT 147.21 511.25 Td (is ) Tj ET Q q 0 0 0 rg BT 154.17 511.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 186.45 511.25 Td (on ) Tj ET Q q 0 0 0 rg BT 196.07 511.25 Td (the ) Tj ET Q q 0 0 0 rg BT 207.47 511.25 Td (grant ) Tj ET Q q 0 0 0 rg BT 225.53 511.25 Td (date ) Tj ET Q q 0 0 0 rg BT 240.48 511.25 Td (using ) Tj ET Q q 0 0 0 rg BT 259.44 511.25 Td (the ) Tj ET Q q 0 0 0 rg BT 270.83 511.25 Td (Black-Scholes ) Tj ET Q q 0 0 0 rg BT 318.67 511.25 Td (option-pricing ) Tj ET Q q 0 0 0 rg BT 366.06 511.25 Td (model ) Tj ET Q q 0 0 0 rg BT 387.68 511.25 Td (and ) Tj ET Q q 0 0 0 rg BT 400.85 511.25 Td (recognized ) Tj ET Q q 0 0 0 rg BT 437.56 511.25 Td (ratably ) Tj ET Q q 0 0 0 rg BT 461.40 511.25 Td (over ) Tj ET Q q 0 0 0 rg BT 477.24 511.25 Td (the ) Tj ET Q q 0 0 0 rg BT 488.63 511.25 Td (requisite ) Tj ET Q q 0 0 0 rg BT 517.80 511.25 Td (service ) Tj ET Q q 0 0 0 rg BT 542.08 511.25 Td (period ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 501.65 Td (as ) Tj ET Q q 0 0 0 rg BT 58.16 501.65 Td (a ) Tj ET Q q 0 0 0 rg BT 63.71 501.65 Td (component ) Tj ET Q q 0 0 0 rg BT 101.26 501.65 Td (of ) Tj ET Q q 0 0 0 rg BT 109.93 501.65 Td (selling, ) Tj ET Q q 0 0 0 rg BT 135.26 501.65 Td (general ) Tj ET Q q 0 0 0 rg BT 160.80 501.65 Td (and ) Tj ET Q q 0 0 0 rg BT 174.35 501.65 Td (administrative ) Tj ET Q q 0 0 0 rg BT 222.11 501.65 Td (expenses.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 486.05 Td (The ) Tj ET Q q 0 0 0 rg BT 63.91 486.05 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 96.98 486.05 Td (intrinsic ) Tj ET Q q 0 0 0 rg BT 125.17 486.05 Td (value ) Tj ET Q q 0 0 0 rg BT 144.47 486.05 Td (\(the ) Tj ET Q q 0 0 0 rg BT 158.89 486.05 Td (dif) Tj ET Q q 0 0 0 rg BT 167.63 486.05 Td (ference ) Tj ET Q q 0 0 0 rg BT 193.13 486.05 Td (between ) Tj ET Q q 0 0 0 rg BT 221.76 486.05 Td (the ) Tj ET Q q 0 0 0 rg BT 233.51 486.05 Td (stock ) Tj ET Q q 0 0 0 rg BT 252.37 486.05 Td (price ) Tj ET Q q 0 0 0 rg BT 270.34 486.05 Td (on ) Tj ET Q q 0 0 0 rg BT 280.31 486.05 Td (the ) Tj ET Q q 0 0 0 rg BT 292.06 486.05 Td (last ) Tj ET Q q 0 0 0 rg BT 305.15 486.05 Td (day ) Tj ET Q q 0 0 0 rg BT 318.67 486.05 Td (of ) Tj ET Q q 0 0 0 rg BT 327.31 486.05 Td (trading ) Tj ET Q q 0 0 0 rg BT 351.95 486.05 Td (of ) Tj ET Q q 0 0 0 rg BT 360.59 486.05 Td (the ) Tj ET Q q 0 0 0 rg BT 372.34 486.05 Td (fourth ) Tj ET Q q 0 0 0 rg BT 393.86 486.05 Td (quarter ) Tj ET Q q 0 0 0 rg BT 418.49 486.05 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.13 486.05 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.13 486.05 Td ( ) Tj ET Q q 0 0 0 rg BT 445.11 486.05 Td (and ) Tj ET Q q 0 0 0 rg BT 458.63 486.05 Td (the ) Tj ET Q q 0 0 0 rg BT 470.38 486.05 Td (exercise ) Tj ET Q q 0 0 0 rg BT 498.56 486.05 Td (prices ) Tj ET Q q 0 0 0 rg BT 519.64 486.05 Td (multiplied ) Tj ET Q q 0 0 0 rg BT 554.50 486.05 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 476.45 Td (the ) Tj ET Q q 0 0 0 rg BT 61.24 476.45 Td (number ) Tj ET Q q 0 0 0 rg BT 87.64 476.45 Td (of ) Tj ET Q q 0 0 0 rg BT 96.27 476.45 Td (in-the-money ) Tj ET Q q 0 0 0 rg BT 141.33 476.45 Td (options\) ) Tj ET Q q 0 0 0 rg BT 169.51 476.45 Td (represents ) Tj ET Q q 0 0 0 rg BT 203.91 476.45 Td (the ) Tj ET Q q 0 0 0 rg BT 215.65 476.45 Td (total ) Tj ET Q q 0 0 0 rg BT 231.83 476.45 Td (intrinsic ) Tj ET Q q 0 0 0 rg BT 260.01 476.45 Td (value ) Tj ET Q q 0 0 0 rg BT 279.30 476.45 Td (that ) Tj ET Q q 0 0 0 rg BT 293.26 476.45 Td (would ) Tj ET Q q 0 0 0 rg BT 315.22 476.45 Td (have ) Tj ET Q q 0 0 0 rg BT 332.29 476.45 Td (been ) Tj ET Q q 0 0 0 rg BT 349.35 476.45 Td (received ) Tj ET Q q 0 0 0 rg BT 378.41 476.45 Td (by ) Tj ET Q q 0 0 0 rg BT 388.37 476.45 Td (the ) Tj ET Q q 0 0 0 rg BT 400.11 476.45 Td (option ) Tj ET Q q 0 0 0 rg BT 422.52 476.45 Td (holders ) Tj ET Q q 0 0 0 rg BT 448.03 476.45 Td (had ) Tj ET Q q 0 0 0 rg BT 461.55 476.45 Td (they ) Tj ET Q q 0 0 0 rg BT 477.28 476.45 Td (exercised ) Tj ET Q q 0 0 0 rg BT 509.45 476.45 Td (all ) Tj ET Q q 0 0 0 rg BT 519.41 476.45 Td (in-the-money ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 466.85 Td (options ) Tj ET Q q 0 0 0 rg BT 75.06 466.85 Td (as ) Tj ET Q q 0 0 0 rg BT 83.72 466.85 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 91.50 466.85 Td (December31, ) Tj ET Q q 0 0 0 rg BT 138.36 466.85 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 154.36 466.85 Td (. ) Tj ET Q q 0 0 0 rg BT 158.22 466.85 Td (This ) Tj ET Q q 0 0 0 rg BT 174.44 466.85 Td (amount ) Tj ET Q q 0 0 0 rg BT 200.44 466.85 Td (changes ) Tj ET Q q 0 0 0 rg BT 228.20 466.85 Td (based ) Tj ET Q q 0 0 0 rg BT 248.42 466.85 Td (on ) Tj ET Q q 0 0 0 rg BT 258.42 466.85 Td (the ) Tj ET Q q 0 0 0 rg BT 270.19 466.85 Td (fair ) Tj ET Q q 0 0 0 rg BT 283.29 466.85 Td (value ) Tj ET Q q 0 0 0 rg BT 302.62 466.85 Td (of ) Tj ET Q q 0 0 0 rg BT 311.28 466.85 Td (our ) Tj ET Q q 0 0 0 rg BT 323.95 466.85 Td (common ) Tj ET Q q 0 0 0 rg BT 353.94 466.85 Td (stock. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 451.25 Td (There ) Tj ET Q q 0 0 0 rg BT 70.15 451.25 Td (were ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.70 451.25 Td (no) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 95.70 451.25 Td ( ) Tj ET Q q 0 0 0 rg BT 97.70 451.25 Td (options ) Tj ET Q q 0 0 0 rg BT 123.25 451.25 Td (granted ) Tj ET Q q 0 0 0 rg BT 149.24 451.25 Td (during ) Tj ET Q q 0 0 0 rg BT 172.13 451.25 Td (the ) Tj ET Q q 0 0 0 rg BT 183.90 451.25 Td (years ) Tj ET Q q 0 0 0 rg BT 202.78 451.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 223.88 451.25 Td (December ) Tj ET Q q 0 0 0 rg BT 258.75 451.25 Td (31, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 270.75 451.25 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 286.75 451.25 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 290.75 451.25 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.75 451.25 Td ( ) Tj ET Q q 0 0 0 rg BT 308.75 451.25 Td (or ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 317.41 451.25 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.41 451.25 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 435.65 Td (The following table summarizes information about stock option activity during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 304.56 435.65 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 320.56 435.65 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 324.56 435.65 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.56 435.65 Td (, and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.11 435.65 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.11 435.65 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 381.15 102.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 151.50 381.15 65.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 381.15 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 381.15 65.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 381.15 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.50 381.15 65.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 381.15 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 381.15 65.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 381.15 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 381.15 65.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 381.15 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 381.15 65.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 345.15 102.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 151.50 345.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 345.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 345.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 345.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.50 345.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 345.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 345.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 345.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 345.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 345.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 345.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 315.15 102.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 151.50 315.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 315.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 315.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 315.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.50 315.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 315.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 315.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 315.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 315.15 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 315.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 315.15 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 410.15 m 216.5 410.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 410.15 m 220.5 410.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 410.15 m 285.5 410.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 410.15 m 354.5 410.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 410.15 m 358.5 410.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 410.15 m 423.5 410.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 410.15 m 492.5 410.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 410.15 m 496.5 410.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 410.15 m 561.5 410.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 381.15 m 216.5 381.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 381.15 m 285.5 381.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 381.15 m 354.5 381.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 381.15 m 423.5 381.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 381.15 m 492.5 381.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 381.15 m 561.5 381.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 381.15 m 216.5 381.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 381.15 m 285.5 381.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 381.15 m 354.5 381.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 381.15 m 423.5 381.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 381.15 m 492.5 381.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 381.15 m 561.5 381.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 300.15 m 216.5 300.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 286.15 m 216.5 286.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 284.15 m 216.5 284.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 300.15 m 285.5 300.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 286.15 m 285.5 286.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 284.15 m 285.5 284.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 300.15 m 354.5 300.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 286.15 m 354.5 286.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 284.15 m 354.5 284.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 300.15 m 423.5 300.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 286.15 m 423.5 286.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 284.15 m 423.5 284.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 300.15 m 492.5 300.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 286.15 m 492.5 286.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 284.15 m 492.5 284.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 300.15 m 561.5 300.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 286.15 m 561.5 286.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 284.15 m 561.5 284.15 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 414.38 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.00 414.38 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.00 414.38 Td (2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 190.00 385.38 Td (Shares) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 249.55 401.38 Td (Weighted) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 223.40 393.38 Td (Average Exercise) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 224.95 385.38 Td (Price \(per share\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 328.00 385.38 Td (Shares) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 387.55 401.38 Td (Weighted) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.40 393.38 Td (Average Exercise) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.95 385.38 Td (Price \(per share\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.00 385.38 Td (Shares) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.55 401.38 Td (Weighted) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 499.40 393.38 Td (Average Exercise) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 500.95 385.38 Td (Price \(per share\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 372.38 Td (Outstanding at beginning of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 364.38 Td (year) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 187.00 364.38 Td (390,500) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 223.00 364.38 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 264.30 364.38 Td (27.26) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 319.30 364.38 Td (2,219,625) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.00 364.38 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.30 364.38 Td (31.51) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 457.30 364.38 Td (2,901,687) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 499.00 364.38 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.30 364.38 Td (32.86) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 349.40 Td (A) Tj ET Q q 0 0 0 rg BT 57.04 349.40 Td (wards exchanged ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 114.35 353.03 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 205.30 349.40 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.30 349.40 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 316.60 349.40 Td (\(1,618,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.30 349.40 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.30 349.40 Td (31.54) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.30 349.40 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.30 349.40 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 334.40 Td (Awards exercised) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 205.30 334.40 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.30 334.40 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.30 334.40 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.30 334.40 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.60 334.40 Td (\(16,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 334.40 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.30 334.40 Td (2.06) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 319.40 Td (Awards forfeited) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.65 319.40 Td (\(114,500\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 264.00 319.40 Td (30.87) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.60 319.40 Td (\(136,125) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.30 319.40 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.30 319.40 Td (33.36) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.60 319.40 Td (\(636,062) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 319.40 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 319.40 Td (35.61) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 304.40 Td (Awards expired) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 181.65 304.40 Td (\(121,000\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 264.00 304.40 Td (20.48) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.60 304.40 Td (\(75,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.30 304.40 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.30 304.40 Td (49.71) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.60 304.40 Td (\(30,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 304.40 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 304.40 Td (90.54) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 289.38 Td (Outstanding at end of year) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 187.00 289.38 Td (155,000) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 223.00 289.38 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 264.30 289.38 Td (29.88) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.30 289.38 Td (390,500) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.00 289.38 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.30 289.38 Td (27.26) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 457.30 289.38 Td (2,219,625) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 499.00 289.38 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.30 289.38 Td (31.51) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 270.05 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 67.50 270.05 Td (Options ) Tj ET Q q 0 0 0 rg BT 94.84 270.05 Td (tendered ) Tj ET Q q 0 0 0 rg BT 124.38 270.05 Td (in ) Tj ET Q q 0 0 0 rg BT 132.60 270.05 Td (exchange ) Tj ET Q q 0 0 0 rg BT 164.80 270.05 Td (for ) Tj ET Q q 0 0 0 rg BT 176.13 270.05 Td (restricted ) Tj ET Q q 0 0 0 rg BT 207.89 270.05 Td (stock ) Tj ET Q q 0 0 0 rg BT 226.78 270.05 Td (units ) Tj ET Q q 0 0 0 rg BT 244.34 270.05 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 273.89 270.05 Td (to ) Tj ET Q q 0 0 0 rg BT 282.11 270.05 Td (an ) Tj ET Q q 0 0 0 rg BT 291.66 270.05 Td (employee ) Tj ET Q q 0 0 0 rg BT 324.76 270.05 Td (option ) Tj ET Q q 0 0 0 rg BT 347.20 270.05 Td (exchange ) Tj ET Q q 0 0 0 rg BT 379.41 270.05 Td (program ) Tj ET Q q 0 0 0 rg BT 408.51 270.05 Td (completed ) Tj ET Q q 0 0 0 rg BT 443.83 270.05 Td (in ) Tj ET Q q 0 0 0 rg BT 452.05 270.05 Td (2013.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 254.45 Td (As at December 31, 2014, all of our outstanding stock options are exercisable. ) Tj ET Q q 0 0 0 rg BT 301.73 254.45 Td (The following table summarizes information about stock options outstanding and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 244.85 Td (exercisable at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 95.25 244.85 Td (December31, 2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 158.12 244.85 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 184.35 244.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.50 184.35 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 184.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 184.35 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 184.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 184.35 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 184.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 184.35 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 154.35 244.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.50 154.35 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 154.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 154.35 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 154.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 154.35 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 154.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 154.35 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 124.35 244.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.50 124.35 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 124.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 124.35 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 124.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 124.35 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 124.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 124.35 64.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 221.35000000000002 m 357.5 221.35000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 221.35000000000002 m 361.5 221.35000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 221.35000000000002 m 425.5 221.35000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 221.35000000000002 m 429.5 221.35000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 221.35000000000002 m 493.5 221.35000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 221.35000000000002 m 497.5 221.35000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 221.35000000000002 m 561.5 221.35000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 184.35000000000002 m 357.5 184.35000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 184.35000000000002 m 425.5 184.35000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 184.35000000000002 m 493.5 184.35000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 184.35000000000002 m 561.5 184.35000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 184.35000000000002 m 357.5 184.35000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 184.35000000000002 m 425.5 184.35000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 184.35000000000002 m 493.5 184.35000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 184.35000000000002 m 561.5 184.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 124.35000000000002 m 357.5 124.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 110.35000000000002 m 357.5 110.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 108.35000000000002 m 357.5 108.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 124.35000000000002 m 425.5 124.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 110.35000000000002 m 425.5 110.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 108.35000000000002 m 425.5 108.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 124.35000000000002 m 493.5 124.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 110.35000000000002 m 493.5 110.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 108.35000000000002 m 493.5 108.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 124.35000000000002 m 561.5 124.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 110.35000000000002 m 561.5 110.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 108.35000000000002 m 561.5 108.35000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 364.95 225.58 Td (Options outstanding and exercisable) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 188.58 Td (Range of exercise prices) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 331.00 188.58 Td (Shares) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.15 212.58 Td (Average) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 387.00 204.58 Td (remaining) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 370.20 196.58 Td (contractual life) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 398.45 188.58 Td (\(years\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 455.05 196.58 Td (Aggregate) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 441.30 188.58 Td (intrinsic value) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.55 204.58 Td (Weighted) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 502.40 196.58 Td (average exercise) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 501.40 188.58 Td (price \(per share\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 173.60 Td ($ 0.01 - 20.00) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.30 173.60 Td (11,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.00 173.60 Td (0.37) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.00 173.60 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.30 173.60 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.00 173.60 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 173.60 Td (17.52) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 158.60 Td ($ 20.01 - 40.00) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.30 158.60 Td (106,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.00 158.60 Td (0.95) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.30 158.60 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 158.60 Td (22.97) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 143.60 Td ($ 40.01 - 60.00) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.30 143.60 Td (36,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.00 143.60 Td (0.93) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.30 143.60 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 143.60 Td (51.68) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 128.60 Td ($ 60.01 - 80.00) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 336.30 128.60 Td (2,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.00 128.60 Td (1.95) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.30 128.60 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 128.60 Td (72.05) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 113.58 Td (Total) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 328.30 113.58 Td (155,000) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.00 113.58 Td (0.92) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 432.00 113.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 482.30 113.58 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 500.00 113.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.30 113.58 Td (29.88) Tj ET Q BT /F1 8.00 Tf ET endstream endobj 149 0 obj <>] /Rotate 0 /Contents 150 0 R>> endobj 150 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (72) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 723.45 Td (Restricted ) Tj ET Q q 0 0 0 rg BT 83.93 723.45 Td (Stock ) Tj ET Q q 0 0 0 rg BT 103.26 723.45 Td (Units ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 707.85 Td (Pursuant ) Tj ET Q q 0 0 0 rg BT 79.77 707.85 Td (to ) Tj ET Q q 0 0 0 rg BT 88.26 707.85 Td (the ) Tj ET Q q 0 0 0 rg BT 100.30 707.85 Td (Plan, ) Tj ET Q q 0 0 0 rg BT 118.79 707.85 Td (we ) Tj ET Q q 0 0 0 rg BT 130.38 707.85 Td (may ) Tj ET Q q 0 0 0 rg BT 146.43 707.85 Td (grant ) Tj ET Q q 0 0 0 rg BT 165.13 707.85 Td (RSUs ) Tj ET Q q 0 0 0 rg BT 186.07 707.85 Td (to ) Tj ET Q q 0 0 0 rg BT 194.56 707.85 Td (our ) Tj ET Q q 0 0 0 rg BT 207.50 707.85 Td (employees ) Tj ET Q q 0 0 0 rg BT 243.97 707.85 Td (and ) Tj ET Q q 0 0 0 rg BT 257.79 707.85 Td (non-employee ) Tj ET Q q 0 0 0 rg BT 305.82 707.85 Td (directors. ) Tj ET Q q 0 0 0 rg BT 338.08 707.85 Td (Each ) Tj ET Q q 0 0 0 rg BT 356.33 707.85 Td (RSU ) Tj ET Q q 0 0 0 rg BT 374.16 707.85 Td (represents ) Tj ET Q q 0 0 0 rg BT 408.86 707.85 Td (a ) Tj ET Q q 0 0 0 rg BT 414.68 707.85 Td (right ) Tj ET Q q 0 0 0 rg BT 432.06 707.85 Td (to ) Tj ET Q q 0 0 0 rg BT 440.55 707.85 Td (receive ) Tj ET Q q 0 0 0 rg BT 465.90 707.85 Td (one ) Tj ET Q q 0 0 0 rg BT 479.72 707.85 Td (share ) Tj ET Q q 0 0 0 rg BT 498.87 707.85 Td (of ) Tj ET Q q 0 0 0 rg BT 507.80 707.85 Td (Class ) Tj ET Q q 0 0 0 rg BT 526.90 707.85 Td (A) Tj ET Q q 0 0 0 rg BT 532.24 707.85 Td ( ) Tj ET Q q 0 0 0 rg BT 534.51 707.85 Td (common ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 68.27 698.25 Td (of ) Tj ET Q q 0 0 0 rg BT 76.81 698.25 Td (the ) Tj ET Q q 0 0 0 rg BT 88.46 698.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 121.45 698.25 Td (for ) Tj ET Q q 0 0 0 rg BT 132.66 698.25 Td (each ) Tj ET Q q 0 0 0 rg BT 149.19 698.25 Td (RSU ) Tj ET Q q 0 0 0 rg BT 166.63 698.25 Td (that ) Tj ET Q q 0 0 0 rg BT 180.50 698.25 Td (vests ) Tj ET Q q 0 0 0 rg BT 198.38 698.25 Td (in ) Tj ET Q q 0 0 0 rg BT 206.48 698.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 244.33 698.25 Td (with ) Tj ET Q q 0 0 0 rg BT 260.43 698.25 Td (the ) Tj ET Q q 0 0 0 rg BT 272.09 698.25 Td (vesting ) Tj ET Q q 0 0 0 rg BT 297.07 698.25 Td (schedule, ) Tj ET Q q 0 0 0 rg BT 328.94 698.25 Td (generally ) Tj ET Q q 0 0 0 rg BT 360.58 698.25 Td (between ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.11 698.25 Td (one) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.66 698.25 Td ( ) Tj ET Q q 0 0 0 rg BT 402.54 698.25 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.64 698.25 Td (four) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.97 698.25 Td ( ) Tj ET Q q 0 0 0 rg BT 425.85 698.25 Td (years ) Tj ET Q q 0 0 0 rg BT 444.61 698.25 Td (from ) Tj ET Q q 0 0 0 rg BT 462.04 698.25 Td (the ) Tj ET Q q 0 0 0 rg BT 473.69 698.25 Td (date ) Tj ET Q q 0 0 0 rg BT 488.89 698.25 Td (of ) Tj ET Q q 0 0 0 rg BT 497.44 698.25 Td (grant. ) Tj ET Q q 0 0 0 rg BT 517.75 698.25 Td (Upon ) Tj ET Q q 0 0 0 rg BT 537.41 698.25 Td (vesting, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 688.65 Td (shares ) Tj ET Q q 0 0 0 rg BT 71.11 688.65 Td (of ) Tj ET Q q 0 0 0 rg BT 79.39 688.65 Td (CME ) Tj ET Q q 0 0 0 rg BT 98.34 688.65 Td (Class ) Tj ET Q q 0 0 0 rg BT 116.93 688.65 Td (A) Tj ET Q q 0 0 0 rg BT 122.27 688.65 Td ( ) Tj ET Q q 0 0 0 rg BT 123.88 688.65 Td (common ) Tj ET Q q 0 0 0 rg BT 153.50 688.65 Td (stock ) Tj ET Q q 0 0 0 rg BT 172.00 688.65 Td (are ) Tj ET Q q 0 0 0 rg BT 183.38 688.65 Td (issued ) Tj ET Q q 0 0 0 rg BT 204.99 688.65 Td (from ) Tj ET Q q 0 0 0 rg BT 222.16 688.65 Td (authorized ) Tj ET Q q 0 0 0 rg BT 257.54 688.65 Td (but ) Tj ET Q q 0 0 0 rg BT 269.37 688.65 Td (unissued ) Tj ET Q q 0 0 0 rg BT 298.99 688.65 Td (shares. ) Tj ET Q q 0 0 0 rg BT 322.60 688.65 Td (Holders ) Tj ET Q q 0 0 0 rg BT 349.54 688.65 Td (of ) Tj ET Q q 0 0 0 rg BT 357.82 688.65 Td (RSU ) Tj ET Q q 0 0 0 rg BT 375.00 688.65 Td (awards ) Tj ET Q q 0 0 0 rg BT 399.27 688.65 Td (are ) Tj ET Q q 0 0 0 rg BT 410.65 688.65 Td (not ) Tj ET Q q 0 0 0 rg BT 422.49 688.65 Td (entitled ) Tj ET Q q 0 0 0 rg BT 448.09 688.65 Td (to ) Tj ET Q q 0 0 0 rg BT 455.93 688.65 Td (receive ) Tj ET Q q 0 0 0 rg BT 480.64 688.65 Td (cash ) Tj ET Q q 0 0 0 rg BT 496.47 688.65 Td (dividend ) Tj ET Q q 0 0 0 rg BT 526.08 688.65 Td (equivalents ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 679.05 Td (and ) Tj ET Q q 0 0 0 rg BT 63.36 679.05 Td (are ) Tj ET Q q 0 0 0 rg BT 75.44 679.05 Td (not ) Tj ET Q q 0 0 0 rg BT 87.97 679.05 Td (entitled ) Tj ET Q q 0 0 0 rg BT 114.27 679.05 Td (to ) Tj ET Q q 0 0 0 rg BT 122.81 679.05 Td (vote. ) Tj ET Q q 0 0 0 rg BT 140.72 679.05 Td (The ) Tj ET Q q 0 0 0 rg BT 155.47 679.05 Td (grant ) Tj ET Q q 0 0 0 rg BT 174.22 679.05 Td (date ) Tj ET Q q 0 0 0 rg BT 189.85 679.05 Td (fair ) Tj ET Q q 0 0 0 rg BT 203.27 679.05 Td (value ) Tj ET Q q 0 0 0 rg BT 222.90 679.05 Td (of ) Tj ET Q q 0 0 0 rg BT 231.88 679.05 Td (RSUs ) Tj ET Q q 0 0 0 rg BT 252.86 679.05 Td (is ) Tj ET Q q 0 0 0 rg BT 260.51 679.05 Td (calculated ) Tj ET Q q 0 0 0 rg BT 295.24 679.05 Td (as ) Tj ET Q q 0 0 0 rg BT 304.22 679.05 Td (the ) Tj ET Q q 0 0 0 rg BT 316.30 679.05 Td (closing ) Tj ET Q q 0 0 0 rg BT 341.72 679.05 Td (price ) Tj ET Q q 0 0 0 rg BT 360.02 679.05 Td (of ) Tj ET Q q 0 0 0 rg BT 368.99 679.05 Td (our ) Tj ET Q q 0 0 0 rg BT 381.97 679.05 Td (class ) Tj ET Q q 0 0 0 rg BT 399.32 679.05 Td (A) Tj ET Q q 0 0 0 rg BT 404.66 679.05 Td ( ) Tj ET Q q 0 0 0 rg BT 406.97 679.05 Td (common ) Tj ET Q q 0 0 0 rg BT 437.27 679.05 Td (shares ) Tj ET Q q 0 0 0 rg BT 459.58 679.05 Td (on ) Tj ET Q q 0 0 0 rg BT 469.89 679.05 Td (the ) Tj ET Q q 0 0 0 rg BT 481.97 679.05 Td (date ) Tj ET Q q 0 0 0 rg BT 497.60 679.05 Td (of ) Tj ET Q q 0 0 0 rg BT 506.58 679.05 Td (grant. ) Tj ET Q q 0 0 0 rg BT 527.33 679.05 Td (For ) Tj ET Q q 0 0 0 rg BT 540.75 679.05 Td (certain ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 669.45 Td (awards ) Tj ET Q q 0 0 0 rg BT 73.86 669.45 Td (with ) Tj ET Q q 0 0 0 rg BT 89.78 669.45 Td (market ) Tj ET Q q 0 0 0 rg BT 113.69 669.45 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 150.72 669.45 Td (the ) Tj ET Q q 0 0 0 rg BT 162.20 669.45 Td (grant ) Tj ET Q q 0 0 0 rg BT 180.33 669.45 Td (date ) Tj ET Q q 0 0 0 rg BT 195.36 669.45 Td (fair ) Tj ET Q q 0 0 0 rg BT 208.16 669.45 Td (value ) Tj ET Q q 0 0 0 rg BT 227.18 669.45 Td (is ) Tj ET Q q 0 0 0 rg BT 234.22 669.45 Td (calculated ) Tj ET Q q 0 0 0 rg BT 268.34 669.45 Td (using ) Tj ET Q q 0 0 0 rg BT 287.38 669.45 Td (a ) Tj ET Q q 0 0 0 rg BT 292.63 669.45 Td (Monte ) Tj ET Q q 0 0 0 rg BT 315.22 669.45 Td (Carlo ) Tj ET Q q 0 0 0 rg BT 334.69 669.45 Td (simulation ) Tj ET Q q 0 0 0 rg BT 370.17 669.45 Td (model. ) Tj ET Q q 0 0 0 rg BT 393.74 669.45 Td (The ) Tj ET Q q 0 0 0 rg BT 407.88 669.45 Td (Monte ) Tj ET Q q 0 0 0 rg BT 430.47 669.45 Td (Carlo ) Tj ET Q q 0 0 0 rg BT 449.94 669.45 Td (simulation ) Tj ET Q q 0 0 0 rg BT 485.42 669.45 Td (model ) Tj ET Q q 0 0 0 rg BT 507.11 669.45 Td (requires ) Tj ET Q q 0 0 0 rg BT 534.58 669.45 Td (the ) Tj ET Q q 0 0 0 rg BT 546.05 669.45 Td (input ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 659.85 Td (of ) Tj ET Q q 0 0 0 rg BT 58.04 659.85 Td (subjective ) Tj ET Q q 0 0 0 rg BT 92.35 659.85 Td (assumptions, ) Tj ET Q q 0 0 0 rg BT 135.78 659.85 Td (including ) Tj ET Q q 0 0 0 rg BT 167.88 659.85 Td (the ) Tj ET Q q 0 0 0 rg BT 179.53 659.85 Td (expected ) Tj ET Q q 0 0 0 rg BT 209.83 659.85 Td (volatility ) Tj ET Q q 0 0 0 rg BT 240.59 659.85 Td (of ) Tj ET Q q 0 0 0 rg BT 249.13 659.85 Td (our ) Tj ET Q q 0 0 0 rg BT 261.67 659.85 Td (common ) Tj ET Q q 0 0 0 rg BT 291.54 659.85 Td (stock, ) Tj ET Q q 0 0 0 rg BT 312.31 659.85 Td (interest ) Tj ET Q q 0 0 0 rg BT 337.73 659.85 Td (rates, ) Tj ET Q q 0 0 0 rg BT 356.71 659.85 Td (dividend ) Tj ET Q q 0 0 0 rg BT 386.58 659.85 Td (yields ) Tj ET Q q 0 0 0 rg BT 407.57 659.85 Td (and ) Tj ET Q q 0 0 0 rg BT 420.99 659.85 Td (correlation ) Tj ET Q q 0 0 0 rg BT 457.52 659.85 Td (coef) Tj ET Q q 0 0 0 rg BT 471.14 659.85 Td (ficient ) Tj ET Q q 0 0 0 rg BT 493.45 659.85 Td (between ) Tj ET Q q 0 0 0 rg BT 521.98 659.85 Td (our ) Tj ET Q q 0 0 0 rg BT 534.52 659.85 Td (common ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 650.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 68.39 650.25 Td (and ) Tj ET Q q 0 0 0 rg BT 81.94 650.25 Td (the ) Tj ET Q q 0 0 0 rg BT 93.71 650.25 Td (relevant ) Tj ET Q q 0 0 0 rg BT 121.47 650.25 Td (market ) Tj ET Q q 0 0 0 rg BT 145.68 650.25 Td (index.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 634.65 Td (The ) Tj ET Q q 0 0 0 rg BT 63.94 634.65 Td (following ) Tj ET Q q 0 0 0 rg BT 97.05 634.65 Td (table ) Tj ET Q q 0 0 0 rg BT 114.59 634.65 Td (summarizes ) Tj ET Q q 0 0 0 rg BT 154.80 634.65 Td (information ) Tj ET Q q 0 0 0 rg BT 194.57 634.65 Td (about ) Tj ET Q q 0 0 0 rg BT 214.35 634.65 Td (unvested ) Tj ET Q q 0 0 0 rg BT 244.79 634.65 Td (RSUs ) Tj ET Q q 0 0 0 rg BT 265.46 634.65 Td (as ) Tj ET Q q 0 0 0 rg BT 274.13 634.65 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 281.90 634.65 Td (December31, ) Tj ET Q q 0 0 0 rg BT 328.77 634.65 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.77 634.65 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 603.15 308.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 603.15 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 603.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 603.15 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 573.15 308.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 573.15 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 573.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 573.15 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 543.15 308.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 543.15 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 543.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 543.15 100.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 603.15 m 457.5 603.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 603.15 m 561.5 603.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 603.15 m 457.5 603.15 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 603.15 m 561.5 603.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 543.15 m 457.5 543.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 529.15 m 457.5 529.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 527.15 m 457.5 527.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 543.15 m 561.5 543.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 529.15 m 561.5 529.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 527.15 m 561.5 527.15 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 417.00 615.38 Td (Number) Tj ET Q q 0 0 0 rg BT 445.30 615.38 Td ( of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 406.55 607.38 Td (Shar) Tj ET Q q 0 0 0 rg BT 422.85 607.38 Td (es / Units) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 495.05 615.38 Td (W) Tj ET Q q 0 0 0 rg BT 502.61 615.38 Td (eighted-A) Tj ET Q q 0 0 0 rg BT 535.34 615.38 Td (verage) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 481.45 607.38 Td (GrantDate Fair) Tj ET Q q 0 0 0 rg BT 536.84 607.38 Td ( ) Tj ET Q q 0 0 0 rg BT 538.70 607.38 Td (V) Tj ET Q q 0 0 0 rg BT 543.74 607.38 Td (alue ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 593.83 Td (Unvested at December 31, 2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 422.30 592.38 Td (1,017,622) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.30 592.38 Td (3.79) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 578.75 Td (Granted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.30 577.40 Td (1,146,489) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.30 577.40 Td (3.00) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 563.75 Td (Vested) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.60 562.40 Td (\(535,168) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 454.30 562.40 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.30 562.40 Td (3.95) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 548.75 Td (Forfeited) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.60 547.40 Td (\(261,709) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 454.30 547.40 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.30 547.40 Td (3.82) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 533.83 Td (Unvested at December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 422.30 532.38 Td (1,367,234) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.30 532.38 Td (3.06) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 513.05 Td (As ) Tj ET Q q 0 0 0 rg BT 61.11 513.05 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 69.60 513.05 Td (December31, ) Tj ET Q q 0 0 0 rg BT 117.19 513.05 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 133.19 513.05 Td (, ) Tj ET Q q 0 0 0 rg BT 137.91 513.05 Td (the ) Tj ET Q q 0 0 0 rg BT 150.40 513.05 Td (intrinsic ) Tj ET Q q 0 0 0 rg BT 179.34 513.05 Td (value ) Tj ET Q q 0 0 0 rg BT 199.38 513.05 Td (of ) Tj ET Q q 0 0 0 rg BT 208.76 513.05 Td (unvested ) Tj ET Q q 0 0 0 rg BT 239.92 513.05 Td (RSUs ) Tj ET Q q 0 0 0 rg BT 261.31 513.05 Td (was ) Tj ET Q q 0 0 0 rg BT 276.47 513.05 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.42 513.05 Td (4.4 ) Tj ET Q q 0 0 0 rg BT 306.14 513.05 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 329.25 513.05 Td (. ) Tj ET Q q 0 0 0 rg BT 333.77 513.05 Td (T) Tj ET Q q 0 0 0 rg BT 338.10 513.05 Td (otal ) Tj ET Q q 0 0 0 rg BT 352.82 513.05 Td (unrecognized ) Tj ET Q q 0 0 0 rg BT 398.62 513.05 Td (compensation ) Tj ET Q q 0 0 0 rg BT 445.78 513.05 Td (cost ) Tj ET Q q 0 0 0 rg BT 461.38 513.05 Td (related ) Tj ET Q q 0 0 0 rg BT 485.86 513.05 Td (to ) Tj ET Q q 0 0 0 rg BT 494.80 513.05 Td (unvested ) Tj ET Q q 0 0 0 rg BT 525.96 513.05 Td (RSUs ) Tj ET Q q 0 0 0 rg BT 547.35 513.05 Td (as ) Tj ET Q q 0 0 0 rg BT 556.74 513.05 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 503.45 Td (December31, ) Tj ET Q q 0 0 0 rg BT 96.37 503.45 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 112.37 503.45 Td ( ) Tj ET Q q 0 0 0 rg BT 114.37 503.45 Td (was ) Tj ET Q q 0 0 0 rg BT 128.81 503.45 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 145.04 503.45 Td (3.2 ) Tj ET Q q 0 0 0 rg BT 157.04 503.45 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 180.15 503.45 Td ( ) Tj ET Q q 0 0 0 rg BT 182.15 503.45 Td (and ) Tj ET Q q 0 0 0 rg BT 195.70 503.45 Td (is ) Tj ET Q q 0 0 0 rg BT 203.04 503.45 Td (expected ) Tj ET Q q 0 0 0 rg BT 233.46 503.45 Td (to ) Tj ET Q q 0 0 0 rg BT 241.68 503.45 Td (be ) Tj ET Q q 0 0 0 rg BT 251.23 503.45 Td (recognized ) Tj ET Q q 0 0 0 rg BT 288.32 503.45 Td (over ) Tj ET Q q 0 0 0 rg BT 304.54 503.45 Td (a ) Tj ET Q q 0 0 0 rg BT 310.09 503.45 Td (weighted-average ) Tj ET Q q 0 0 0 rg BT 368.95 503.45 Td (period ) Tj ET Q q 0 0 0 rg BT 391.38 503.45 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.05 503.45 Td (2.8 ) Tj ET Q q 0 0 0 rg BT 412.05 503.45 Td (years) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.93 503.45 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 481.85 Td (18. ) Tj ET Q q 0 0 0 rg BT 67.50 481.85 Td (INCOME ) Tj ET Q q 0 0 0 rg BT 103.13 481.85 Td (T) Tj ET Q q 0 0 0 rg BT 107.88 481.85 Td (AXES) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 466.25 Td (As ) Tj ET Q q 0 0 0 rg BT 60.54 466.25 Td (our ) Tj ET Q q 0 0 0 rg BT 73.36 466.25 Td (investments ) Tj ET Q q 0 0 0 rg BT 113.73 466.25 Td (are ) Tj ET Q q 0 0 0 rg BT 125.64 466.25 Td (predominantly ) Tj ET Q q 0 0 0 rg BT 174.45 466.25 Td (owned ) Tj ET Q q 0 0 0 rg BT 197.93 466.25 Td (by ) Tj ET Q q 0 0 0 rg BT 208.08 466.25 Td (Dutch ) Tj ET Q q 0 0 0 rg BT 229.79 466.25 Td (holding ) Tj ET Q q 0 0 0 rg BT 256.38 466.25 Td (companies, ) Tj ET Q q 0 0 0 rg BT 294.74 466.25 Td (the ) Tj ET Q q 0 0 0 rg BT 306.67 466.25 Td (components ) Tj ET Q q 0 0 0 rg BT 347.48 466.25 Td (of ) Tj ET Q q 0 0 0 rg BT 356.30 466.25 Td (the ) Tj ET Q q 0 0 0 rg BT 368.22 466.25 Td (provision ) Tj ET Q q 0 0 0 rg BT 400.59 466.25 Td (/ ) Tj ET Q q 0 0 0 rg BT 404.97 466.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 425.33 466.25 Td (for ) Tj ET Q q 0 0 0 rg BT 436.81 466.25 Td (income ) Tj ET Q q 0 0 0 rg BT 462.51 466.25 Td (taxes ) Tj ET Q q 0 0 0 rg BT 481.10 466.25 Td (and ) Tj ET Q q 0 0 0 rg BT 494.80 466.25 Td (of ) Tj ET Q q 0 0 0 rg BT 503.62 466.25 Td (the ) Tj ET Q q 0 0 0 rg BT 515.54 466.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 530.14 466.25 Td (before ) Tj ET Q q 0 0 0 rg BT 552.72 466.25 Td (tax ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 456.65 Td (have ) Tj ET Q q 0 0 0 rg BT 65.85 456.65 Td (been ) Tj ET Q q 0 0 0 rg BT 82.21 456.65 Td (analyzed ) Tj ET Q q 0 0 0 rg BT 111.89 456.65 Td (between ) Tj ET Q q 0 0 0 rg BT 139.79 456.65 Td (their ) Tj ET Q q 0 0 0 rg BT 155.71 456.65 Td (Netherlands ) Tj ET Q q 0 0 0 rg BT 195.61 456.65 Td (and ) Tj ET Q q 0 0 0 rg BT 208.42 456.65 Td (non-Netherlands ) Tj ET Q q 0 0 0 rg BT 262.98 456.65 Td (components. ) Tj ET Q q 0 0 0 rg BT 304.90 456.65 Td (Similarly ) Tj ET Q q 0 0 0 rg BT 335.93 456.65 Td (the ) Tj ET Q q 0 0 0 rg BT 346.95 456.65 Td (Dutch ) Tj ET Q q 0 0 0 rg BT 367.76 456.65 Td (corporate ) Tj ET Q q 0 0 0 rg BT 399.21 456.65 Td (income ) Tj ET Q q 0 0 0 rg BT 424.01 456.65 Td (tax ) Tj ET Q q 0 0 0 rg BT 435.04 456.65 Td (rates ) Tj ET Q q 0 0 0 rg BT 451.39 456.65 Td (have ) Tj ET Q q 0 0 0 rg BT 467.75 456.65 Td (been ) Tj ET Q q 0 0 0 rg BT 484.10 456.65 Td (used ) Tj ET Q q 0 0 0 rg BT 500.02 456.65 Td (in ) Tj ET Q q 0 0 0 rg BT 507.50 456.65 Td (the ) Tj ET Q q 0 0 0 rg BT 518.52 456.65 Td (reconciliation ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 447.05 Td (of ) Tj ET Q q 0 0 0 rg BT 58.16 447.05 Td (income ) Tj ET Q q 0 0 0 rg BT 83.71 447.05 Td (taxes.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 428.45 Td (Loss ) Tj ET Q q 0 0 0 rg BT 66.18 428.45 Td (fr) Tj ET Q q 0 0 0 rg BT 71.21 428.45 Td (om ) Tj ET Q q 0 0 0 rg BT 82.99 428.45 Td (continuing ) Tj ET Q q 0 0 0 rg BT 119.21 428.45 Td (operations ) Tj ET Q q 0 0 0 rg BT 155.43 428.45 Td (befor) Tj ET Q q 0 0 0 rg BT 172.02 428.45 Td (e ) Tj ET Q q 0 0 0 rg BT 177.57 428.45 Td (income ) Tj ET Q q 0 0 0 rg BT 202.68 428.45 Td (taxes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 412.85 Td (The ) Tj ET Q q 0 0 0 rg BT 63.94 412.85 Td (Netherlands ) Tj ET Q q 0 0 0 rg BT 104.59 412.85 Td (and ) Tj ET Q q 0 0 0 rg BT 118.14 412.85 Td (non-Netherlands ) Tj ET Q q 0 0 0 rg BT 173.46 412.85 Td (components ) Tj ET Q q 0 0 0 rg BT 214.12 412.85 Td (of ) Tj ET Q q 0 0 0 rg BT 222.78 412.85 Td (loss ) Tj ET Q q 0 0 0 rg BT 237.23 412.85 Td (from ) Tj ET Q q 0 0 0 rg BT 254.78 412.85 Td (continuing ) Tj ET Q q 0 0 0 rg BT 291.00 412.85 Td (operations ) Tj ET Q q 0 0 0 rg BT 326.32 412.85 Td (before ) Tj ET Q q 0 0 0 rg BT 348.75 412.85 Td (income ) Tj ET Q q 0 0 0 rg BT 374.30 412.85 Td (taxes ) Tj ET Q q 0 0 0 rg BT 392.74 412.85 Td (are:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 372.35 247.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 372.35 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 372.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 372.35 86.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 372.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 372.35 86.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 342.35 247.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 342.35 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 342.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 342.35 86.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 342.35 4.00 -15.00 re f /GS0 gs 0.8 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m 381.5 372.35 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 372.35 m 471.5 372.35 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 372.35 m 561.5 372.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 342.35 m 381.5 342.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 328.35 m 381.5 328.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 326.35 m 381.5 326.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 342.35 m 471.5 342.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 328.35 m 471.5 328.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 326.35 m 471.5 326.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 342.35 m 561.5 342.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 328.35 m 561.5 328.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 326.35 m 561.5 326.35 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 368.25 391.58 Td (For The Year Ending December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.00 376.58 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 376.58 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 542.00 376.58 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 361.60 Td (Domestic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.00 361.60 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.60 361.60 Td (\(117,247) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 378.30 361.60 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.00 361.60 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.60 361.60 Td (\(80,885) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.30 361.60 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.00 361.60 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 361.60 Td (\(22,676) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 361.60 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 346.60 Td (Foreign) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.60 346.60 Td (\(35,576) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 378.30 346.60 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.60 346.60 Td (\(213,542) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.30 346.60 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.60 346.60 Td (\(527,783) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 346.60 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 331.58 Td (Total) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 299.00 331.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.60 331.58 Td (\(152,823) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 378.30 331.58 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 388.00 331.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 439.60 331.58 Td (\(294,427) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.30 331.58 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.00 331.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.60 331.58 Td (\(550,459) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.30 331.58 Td (\)) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 312.25 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 312.25 Td (e ) Tj ET Q q 0 0 0 rg BT 62.02 312.25 Td (had ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 75.63 312.25 Td (no) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 83.63 312.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.69 312.25 Td (intercompany ) Tj ET Q q 0 0 0 rg BT 131.73 312.25 Td (dividend ) Tj ET Q q 0 0 0 rg BT 161.79 312.25 Td (income ) Tj ET Q q 0 0 0 rg BT 187.40 312.25 Td (for ) Tj ET Q q 0 0 0 rg BT 198.78 312.25 Td (the ) Tj ET Q q 0 0 0 rg BT 210.62 312.25 Td (years ) Tj ET Q q 0 0 0 rg BT 229.56 312.25 Td (ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 250.72 312.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 297.64 312.25 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.64 312.25 Td ( ) Tj ET Q q 0 0 0 rg BT 315.70 312.25 Td (or ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 324.43 312.25 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.43 312.25 Td (. ) Tj ET Q q 0 0 0 rg BT 344.49 312.25 Td (Included ) Tj ET Q q 0 0 0 rg BT 374.53 312.25 Td (in ) Tj ET Q q 0 0 0 rg BT 382.82 312.25 Td (domestic ) Tj ET Q q 0 0 0 rg BT 413.76 312.25 Td (income ) Tj ET Q q 0 0 0 rg BT 439.37 312.25 Td (for ) Tj ET Q q 0 0 0 rg BT 450.75 312.25 Td (the ) Tj ET Q q 0 0 0 rg BT 462.59 312.25 Td (year ) Tj ET Q q 0 0 0 rg BT 478.41 312.25 Td (ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.57 312.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 546.50 312.25 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 562.50 312.25 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 302.65 Td (is ) Tj ET Q q 0 0 0 rg BT 57.16 302.65 Td (intercompany ) Tj ET Q q 0 0 0 rg BT 103.46 302.65 Td (dividend ) Tj ET Q q 0 0 0 rg BT 133.77 302.65 Td (income ) Tj ET Q q 0 0 0 rg BT 159.64 302.65 Td (of ) Tj ET Q q 0 0 0 rg BT 168.62 302.65 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 185.17 302.65 Td (49.0 ) Tj ET Q q 0 0 0 rg BT 201.49 302.65 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 224.60 302.65 Td (, ) Tj ET Q q 0 0 0 rg BT 228.92 302.65 Td (with ) Tj ET Q q 0 0 0 rg BT 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183.23 293.05 Td (entity) Tj ET Q q 0 0 0 rg BT 200.93 293.05 Td (.) 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/Contents 152 0 R>> endobj 152 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) 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296.95 m 381.5 296.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 312.95 m 471.5 312.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 298.95 m 471.5 298.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 296.95 m 471.5 296.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 312.95 m 561.5 312.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 298.95 m 561.5 298.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 296.95 m 561.5 296.95 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 368.25 452.18 Td (For The Year Ending December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.00 437.18 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 437.18 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 542.00 437.18 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 422.20 Td (Income taxes at Netherlands rates \(25%\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.00 422.20 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.60 422.20 Td 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0 rg BT 536.30 392.20 Td (55,671) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 377.20 Td (Unrecognized tax benefits) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.60 377.20 Td (\(33) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 378.30 377.20 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 461.60 377.20 Td (\(4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.30 377.20 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 377.20 Td (11,089) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 362.20 Td (Losses expired) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 360.30 362.20 Td (4,899) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.30 362.20 Td (7,439) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 362.20 Td (4,375) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 347.20 Td (Change in valuation allowance) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 360.30 347.20 Td (7,012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.30 347.20 Td (23,123) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 347.20 Td (15,871) Tj ET Q BT 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0 rg BT 299.33 282.85 Td (in ) Tj ET Q q 0 0 0 rg BT 307.81 282.85 Td (Bermuda ) Tj ET Q q 0 0 0 rg BT 339.39 282.85 Td (where ) Tj ET Q q 0 0 0 rg BT 361.20 282.85 Td (there ) Tj ET Q q 0 0 0 rg BT 379.44 282.85 Td (is ) Tj ET Q q 0 0 0 rg BT 387.04 282.85 Td (no ) Tj ET Q q 0 0 0 rg BT 397.29 282.85 Td (income ) Tj ET Q q 0 0 0 rg BT 423.10 282.85 Td (tax. ) Tj ET Q q 0 0 0 rg BT 437.13 282.85 Td (In ) Tj ET Q q 0 0 0 rg BT 446.05 282.85 Td (2012 ) Tj ET Q q 0 0 0 rg BT 464.31 282.85 Td (and ) Tj ET Q q 0 0 0 rg BT 478.12 282.85 Td (2013, ) Tj ET Q q 0 0 0 rg BT 498.38 282.85 Td (it ) Tj ET Q q 0 0 0 rg BT 505.08 282.85 Td (mainly ) Tj ET Q q 0 0 0 rg BT 529.55 282.85 Td (arises ) Tj ET Q q 0 0 0 rg BT 550.03 282.85 Td (as ) Tj ET Q q 0 0 0 rg BT 558.95 282.85 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 273.25 Td (result ) Tj ET Q q 0 0 0 rg BT 69.27 273.25 Td (of ) Tj ET Q q 0 0 0 rg BT 77.94 273.25 Td (the ) Tj ET Q q 0 0 0 rg BT 89.71 273.25 Td (dif) Tj ET Q q 0 0 0 rg BT 98.45 273.25 Td (ference ) Tj ET Q q 0 0 0 rg BT 123.98 273.25 Td (between ) Tj ET Q q 0 0 0 rg BT 152.64 273.25 Td (the ) Tj ET Q q 0 0 0 rg BT 164.41 273.25 Td (Bulgarian ) Tj ET Q q 0 0 0 rg BT 197.96 273.25 Td (and ) Tj ET Q q 0 0 0 rg BT 211.51 273.25 Td (Netherlands' ) Tj ET Q q 0 0 0 rg BT 253.60 273.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 265.38 273.25 Td (rates.) 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Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (74) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 723.45 Td (Components ) Tj ET Q q 0 0 0 rg BT 91.50 723.45 Td (of ) Tj ET Q q 0 0 0 rg BT 99.72 723.45 Td (Deferr) Tj ET Q q 0 0 0 rg BT 120.75 723.45 Td (ed ) Tj 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m 561.5 457.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 442.35 m 471.5 442.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 428.35 m 471.5 428.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 426.35 m 471.5 426.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 442.35 m 561.5 442.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 428.35 m 561.5 428.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 426.35 m 561.5 426.35 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 403.50 686.58 Td (December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 493.50 686.58 Td (December 31, 2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 671.58 Td (Assets:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 656.60 Td (Tax benefit of loss carry-forwards and other tax credits) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.00 656.60 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.30 656.60 Td (114,858) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.00 656.60 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 656.60 Td (128,656) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 641.60 Td (Programming rights) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.30 641.60 Td (15,158) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 641.60 Td (16,207) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 626.60 Td (Property, plant and equipment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.30 626.60 Td (7,533) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 626.60 Td (5,365) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 611.60 Td (Accrued expenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.30 611.60 Td (3,922) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 611.60 Td (4,342) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 596.60 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.30 596.60 Td (12,718) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 596.60 Td (11,766) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 581.58 Td (Gross deferred tax assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.30 581.58 Td (154,189) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.30 581.58 Td (166,336) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 566.60 Td (Valuation allowance) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.60 566.60 Td (\(124,263) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.30 566.60 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.60 566.60 Td (\(133,018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 566.60 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 551.58 Td (Net deferred tax assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 388.00 551.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.30 551.58 Td (29,926) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.00 551.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.30 551.58 Td (33,318) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 521.58 Td (Liabilities:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 506.60 Td (Broadcast licenses, trademarks and customer relationships) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.00 506.60 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.30 506.60 Td (29,620) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.00 506.60 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 506.60 Td (35,672) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 491.60 Td (Property, plant and equipment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.30 491.60 Td (177) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.30 491.60 Td (106) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 476.60 Td (Programming rights) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.30 476.60 Td (16,325) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 476.60 Td (17,911) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 461.60 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.30 461.60 Td (2,870) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 461.60 Td (3,676) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 446.58 Td (Total deferred tax liabilities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.30 446.58 Td (48,992) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.30 446.58 Td (57,365) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 431.58 Td (Net deferred income tax liability) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 388.00 431.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 443.60 431.58 Td (\(19,066) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.30 431.58 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.00 431.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.60 431.58 Td (\(24,047) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.30 431.58 Td (\)) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 412.25 Td (Deferred ) Tj ET Q q 0 0 0 rg BT 79.92 412.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 91.70 412.25 Td (is ) Tj ET Q q 0 0 0 rg BT 99.03 412.25 Td (recognized ) Tj ET Q q 0 0 0 rg BT 136.12 412.25 Td (on ) Tj ET Q q 0 0 0 rg BT 146.12 412.25 Td (the ) Tj ET Q q 0 0 0 rg BT 157.89 412.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 200.33 412.25 Td (balance ) Tj ET Q q 0 0 0 rg 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475.50 326.75 86.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 296.75 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 296.75 86.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 296.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 296.75 86.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 266.75 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 266.75 86.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 266.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 266.75 86.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 386.75 m 471.5 386.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 386.75 m 561.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 356.75 m 471.5 356.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 356.75 m 561.5 356.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 296.75 m 471.5 296.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 296.75 m 561.5 296.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 266.75 m 471.5 266.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 252.75 m 471.5 252.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 250.75 m 471.5 250.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 266.75 m 561.5 266.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 252.75 m 561.5 252.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 250.75 m 561.5 250.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 403.50 390.98 Td (December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 493.50 390.98 Td (December 31, 2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 376.00 Td (Net current deferred tax assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.00 376.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.30 376.00 Td (8,127) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.00 376.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 376.00 Td (1,091) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 361.00 Td (Net non-current deferred tax assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.30 361.00 Td (456) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.30 361.00 Td (763) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.30 346.00 Td (8,583) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 346.00 Td (1,854) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 316.00 Td (Net current deferred tax liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.60 316.00 Td (\(279) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.30 316.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 543.60 316.00 Td (\(933) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 316.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 301.00 Td (Net non-current deferred tax liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.60 301.00 Td (\(27,370) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.30 301.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 301.00 Td (\(24,968) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 301.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.60 286.00 Td (\(27,649) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.30 286.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 286.00 Td (\(25,901) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 286.00 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 255.98 Td (Net deferred income tax liability) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 388.00 255.98 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 443.60 255.98 Td (\(19,066) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.30 255.98 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.00 255.98 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.60 255.98 Td (\(24,047) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.30 255.98 Td (\)) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 236.65 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 236.65 Td (e ) Tj ET Q q 0 0 0 rg BT 61.24 236.65 Td (provided ) Tj ET Q q 0 0 0 rg BT 90.96 236.65 Td (a ) Tj ET Q q 0 0 0 rg BT 95.79 236.65 Td (valuation ) Tj ET Q q 0 0 0 rg BT 126.84 236.65 Td (allowance ) Tj ET Q q 0 0 0 rg BT 160.55 236.65 Td (against ) Tj ET Q q 0 0 0 rg BT 184.49 236.65 Td (potential ) Tj ET Q q 0 0 0 rg BT 213.77 236.65 Td (deferred ) Tj ET Q q 0 0 0 rg BT 241.69 236.65 Td (tax ) Tj ET Q q 0 0 0 rg BT 252.75 236.65 Td (assets ) Tj ET Q q 0 0 0 rg BT 272.69 236.65 Td (of ) Tj ET Q q 0 0 0 rg BT 280.64 236.65 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.14 236.65 Td (124.3 ) Tj ET Q q 0 0 0 rg BT 315.43 236.65 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.54 236.65 Td ( ) Tj ET Q q 0 0 0 rg BT 339.82 236.65 Td (and ) Tj ET Q q 0 0 0 rg BT 352.65 236.65 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.16 236.65 Td (133.0 ) Tj ET Q q 0 0 0 rg BT 387.44 236.65 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.55 236.65 Td ( ) Tj ET Q q 0 0 0 rg BT 411.84 236.65 Td (as ) Tj ET Q q 0 0 0 rg BT 419.78 236.65 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.84 236.65 Td (December31, ) Tj ET Q q 0 0 0 rg BT 472.98 236.65 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.98 236.65 Td ( ) Tj ET Q q 0 0 0 rg BT 490.27 236.65 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 503.10 236.65 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.10 236.65 Td (, ) Tj ET Q q 0 0 0 rg BT 522.38 236.65 Td (respectively) Tj ET Q q 0 0 0 rg BT 560.51 236.65 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 227.05 Td (since ) Tj ET Q q 0 0 0 rg BT 68.04 227.05 Td (it ) Tj ET Q q 0 0 0 rg BT 74.58 227.05 Td (has ) Tj ET Q q 0 0 0 rg BT 87.35 227.05 Td (been ) Tj ET Q q 0 0 0 rg BT 104.55 227.05 Td (determined ) Tj ET Q q 0 0 0 rg BT 142.64 227.05 Td (by ) Tj ET Q q 0 0 0 rg BT 152.74 227.05 Td (management, ) Tj ET Q q 0 0 0 rg BT 197.71 227.05 Td (based ) Tj ET Q q 0 0 0 rg BT 218.02 227.05 Td (on ) Tj ET Q q 0 0 0 rg BT 228.12 227.05 Td (the ) Tj ET Q q 0 0 0 rg BT 240.00 227.05 Td (weight ) Tj ET Q q 0 0 0 rg BT 263.87 227.05 Td (of ) Tj ET Q q 0 0 0 rg BT 272.64 227.05 Td (all ) Tj ET Q q 0 0 0 rg BT 282.73 227.05 Td (available ) Tj ET Q q 0 0 0 rg BT 313.71 227.05 Td (evidence, ) Tj ET Q q 0 0 0 rg BT 346.23 227.05 Td (that ) Tj ET Q q 0 0 0 rg BT 360.33 227.05 Td (it ) Tj ET Q q 0 0 0 rg BT 366.87 227.05 Td (is ) Tj ET Q q 0 0 0 rg BT 374.31 227.05 Td (more ) Tj ET Q q 0 0 0 rg BT 392.85 227.05 Td (likely ) Tj ET Q q 0 0 0 rg BT 413.17 227.05 Td (than ) Tj ET Q q 0 0 0 rg BT 429.04 227.05 Td (not ) Tj ET Q q 0 0 0 rg BT 441.37 227.05 Td (that ) Tj ET Q q 0 0 0 rg BT 455.46 227.05 Td (the ) Tj ET Q q 0 0 0 rg BT 467.34 227.05 Td (benefits ) Tj ET Q q 0 0 0 rg BT 494.76 227.05 Td (associated ) Tj ET Q q 0 0 0 rg BT 529.74 227.05 Td (with ) Tj ET Q q 0 0 0 rg BT 546.06 227.05 Td (these ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 217.45 Td (assets ) Tj ET Q q 0 0 0 rg BT 70.16 217.45 Td (will ) Tj ET Q q 0 0 0 rg BT 84.61 217.45 Td (not ) Tj ET Q q 0 0 0 rg BT 96.83 217.45 Td (be ) Tj ET Q q 0 0 0 rg BT 106.38 217.45 Td (realized.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 201.85 Td (During ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 74.16 201.85 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 90.16 201.85 Td (, ) Tj ET Q q 0 0 0 rg BT 94.16 201.85 Td (we ) Tj ET Q q 0 0 0 rg BT 105.49 201.85 Td (had ) Tj ET Q q 0 0 0 rg BT 119.04 201.85 Td (the ) Tj ET Q q 0 0 0 rg BT 130.82 201.85 Td (following ) Tj ET Q q 0 0 0 rg BT 163.93 201.85 Td (movements ) Tj ET Q q 0 0 0 rg BT 202.81 201.85 Td (on ) Tj ET Q q 0 0 0 rg BT 212.81 201.85 Td (valuation ) Tj ET Q q 0 0 0 rg BT 244.58 201.85 Td (allowances:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 191.35 427.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 191.35 86.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 161.35 427.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 161.35 86.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 131.35 427.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 131.35 86.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 131.35000000000002 m 562 131.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 117.35000000000002 m 562 117.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 115.35000000000002 m 562 115.35000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 180.58 Td (Balance at December 31, 2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.50 180.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.80 180.58 Td (133,018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 165.60 Td (Created during the period) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 165.60 Td (18,148) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 150.60 Td (Utilized) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 150.60 Td (\(11,136) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 150.60 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 135.60 Td (Foreign exchange) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 135.60 Td (\(15,767) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 135.60 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 120.58 Td (Balance at December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.50 120.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.80 120.58 Td (124,263) Tj ET Q BT /F1 8.00 Tf ET endstream endobj 155 0 obj <>] /Rotate 0 /Contents 156 0 R>> endobj 156 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (75) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 723.50 Td (As ) Tj ET Q q 0 0 0 rg BT 60.39 723.50 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 69.05 723.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 115.92 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gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 608.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 608.00 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 608.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 608.00 46.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 266 698 m 312 698 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 316 698 m 362 698 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 366 698 m 412 698 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 416 698 m 462 698 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 466 698 m 512 698 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 516 698 m 562 698 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266 593 m 312 593 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266 579 m 312 579 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266 577 m 312 577 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 593 m 362 593 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 579 m 362 579 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 577 m 362 577 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 593 m 412 593 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 579 m 412 579 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 577 m 412 577 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416 593 m 462 593 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416 579 m 462 579 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416 577 m 462 577 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 593 m 512 593 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 579 m 512 579 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 577 m 512 577 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 593 m 562 593 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 579 m 562 579 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 577 m 562 577 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 292.50 702.23 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 342.50 702.23 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 392.50 702.23 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.50 702.23 Td (2018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 481.80 702.23 Td (2019-23) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.15 702.23 Td (Indefinite) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 687.25 Td (Croatia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 268.50 687.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 290.75 687.25 Td (6,380) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 318.50 687.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.75 687.25 Td (1,651) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.50 687.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.80 687.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.50 687.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.80 687.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.50 687.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 687.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 518.50 687.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 687.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 672.25 Td (Czech Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 300.80 672.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 350.80 672.25 Td (97) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.80 672.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.75 672.25 Td (53,034) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 672.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 672.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 657.25 Td (The Netherlands) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 290.75 657.25 Td (3,626) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.75 657.25 Td (7,796) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.75 657.25 Td (31,317) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.75 657.25 Td (29,518) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.75 657.25 Td (294,490) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 657.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 642.25 Td (Romania) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 300.80 642.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 350.80 642.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.75 642.25 Td (6,373) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.75 642.25 Td (1,487) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.75 642.25 Td (15,288) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 642.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 627.25 Td (Slovak Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 290.75 627.25 Td (6,622) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.75 627.25 Td (6,622) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.75 627.25 Td (6,622) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.80 627.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 627.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 627.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 612.25 Td (Slovenia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 300.80 612.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 350.80 612.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.80 612.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.80 612.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 612.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 612.25 Td (19,930) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 597.25 Td (United Kingdom) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 300.80 597.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 350.80 597.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.80 597.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.80 597.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 597.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.75 597.25 Td (1,924) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 582.23 Td (Total) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 268.50 582.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 286.75 582.23 Td (16,628) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 318.50 582.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.75 582.23 Td (16,166) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 368.50 582.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 386.75 582.23 Td (44,312) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.50 582.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.75 582.23 Td (84,039) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.50 582.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 482.75 582.23 Td (309,778) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 518.50 582.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.75 582.23 Td (21,854) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 562.90 Td (The ) Tj ET Q q 0 0 0 rg BT 63.65 562.90 Td (losses ) Tj ET Q q 0 0 0 rg BT 84.48 562.90 Td (are ) Tj ET Q q 0 0 0 rg BT 95.96 562.90 Td (subject ) Tj ET Q q 0 0 0 rg BT 120.34 562.90 Td (to ) Tj ET Q q 0 0 0 rg BT 128.27 562.90 Td (examination ) Tj ET Q q 0 0 0 rg BT 169.53 562.90 Td (by ) Tj ET Q q 0 0 0 rg BT 179.25 562.90 Td (the ) Tj ET Q q 0 0 0 rg BT 190.73 562.90 Td (tax ) Tj ET Q q 0 0 0 rg BT 202.22 562.90 Td (authorities ) Tj ET Q q 0 0 0 rg BT 237.71 562.90 Td (and ) Tj ET Q q 0 0 0 rg BT 250.97 562.90 Td (to ) Tj ET Q q 0 0 0 rg BT 258.91 562.90 Td (restriction ) Tj ET Q q 0 0 0 rg BT 293.06 562.90 Td (on ) Tj ET Q q 0 0 0 rg BT 302.77 562.90 Td (their ) Tj ET Q q 0 0 0 rg BT 319.15 562.90 Td (utilization. ) Tj ET Q q 0 0 0 rg BT 355.30 562.90 Td (In ) Tj ET Q q 0 0 0 rg BT 363.68 562.90 Td (particular) Tj ET Q q 0 0 0 rg BT 394.01 562.90 Td (, ) Tj ET Q q 0 0 0 rg BT 397.72 562.90 Td (the ) Tj ET Q q 0 0 0 rg BT 409.21 562.90 Td (losses ) Tj ET Q q 0 0 0 rg BT 430.04 562.90 Td (can ) Tj ET Q q 0 0 0 rg BT 442.86 562.90 Td (only ) Tj ET Q q 0 0 0 rg BT 458.79 562.90 Td (be ) Tj ET Q q 0 0 0 rg BT 468.06 562.90 Td (utilized ) Tj ET Q q 0 0 0 rg BT 493.77 562.90 Td (against ) Tj ET Q q 0 0 0 rg BT 518.14 562.90 Td (profits ) Tj ET Q q 0 0 0 rg BT 540.74 562.90 Td (arising ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 553.30 Td (in ) Tj ET Q q 0 0 0 rg BT 57.72 553.30 Td (the ) Tj ET Q q 0 0 0 rg BT 69.50 553.30 Td (legal ) Tj ET Q q 0 0 0 rg BT 87.04 553.30 Td (entity ) Tj ET Q q 0 0 0 rg BT 107.26 553.30 Td (in ) Tj ET Q q 0 0 0 rg BT 115.48 553.30 Td (which ) Tj ET Q q 0 0 0 rg BT 137.04 553.30 Td (they ) Tj ET Q q 0 0 0 rg BT 152.81 553.30 Td (arose.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 537.70 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 537.70 Td (e ) Tj ET Q q 0 0 0 rg BT 62.32 537.70 Td (have ) Tj ET Q q 0 0 0 rg BT 79.79 537.70 Td (provided ) Tj ET Q q 0 0 0 rg BT 110.58 537.70 Td (valuation ) Tj ET Q q 0 0 0 rg BT 142.71 537.70 Td (allowances ) Tj ET Q q 0 0 0 rg BT 180.62 537.70 Td (against ) Tj ET Q q 0 0 0 rg BT 205.64 537.70 Td (most ) Tj ET Q q 0 0 0 rg BT 223.56 537.70 Td (of ) Tj ET Q q 0 0 0 rg BT 232.58 537.70 Td (the ) Tj ET Q q 0 0 0 rg BT 244.72 537.70 Td (above ) Tj ET Q q 0 0 0 rg BT 266.18 537.70 Td (loss ) Tj ET Q q 0 0 0 rg BT 280.99 537.70 Td (carry-forwards. ) Tj ET Q q 0 0 0 rg BT 332.88 537.70 Td (However ) Tj ET Q q 0 0 0 rg BT 364.56 537.70 Td (valuation ) Tj ET Q q 0 0 0 rg BT 396.69 537.70 Td (allowances ) Tj ET Q q 0 0 0 rg BT 434.59 537.70 Td (have ) Tj ET Q q 0 0 0 rg BT 452.05 537.70 Td (not ) Tj ET Q q 0 0 0 rg BT 464.64 537.70 Td (been ) Tj ET Q q 0 0 0 rg BT 482.10 537.70 Td (provided ) Tj ET Q q 0 0 0 rg BT 512.90 537.70 Td (against ) Tj ET Q q 0 0 0 rg BT 537.92 537.70 Td (the ) Tj ET Q q 0 0 0 rg BT 550.06 537.70 Td (loss ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 528.10 Td (carry-forwards ) Tj ET Q q 0 0 0 rg BT 99.09 528.10 Td (in ) Tj ET Q q 0 0 0 rg BT 107.38 528.10 Td (our ) Tj ET Q q 0 0 0 rg BT 120.11 528.10 Td (main ) Tj ET Q q 0 0 0 rg BT 138.17 528.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 170.44 528.10 Td (company ) Tj ET Q q 0 0 0 rg BT 201.83 528.10 Td (in ) Tj ET Q q 0 0 0 rg BT 210.12 528.10 Td (the ) Tj ET Q q 0 0 0 rg BT 221.96 528.10 Td (Czech ) Tj ET Q q 0 0 0 rg BT 244.01 528.10 Td (Republic ) Tj ET Q q 0 0 0 rg BT 274.96 528.10 Td (on ) Tj ET Q q 0 0 0 rg BT 285.02 528.10 Td (the ) Tj ET Q q 0 0 0 rg BT 296.86 528.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 314.92 528.10 Td (of ) Tj ET Q q 0 0 0 rg BT 323.65 528.10 Td (future ) Tj ET Q q 0 0 0 rg BT 344.82 528.10 Td (reversals ) Tj ET Q q 0 0 0 rg BT 375.31 528.10 Td (of ) Tj ET Q q 0 0 0 rg BT 384.04 528.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 411.44 528.10 Td (taxable ) Tj ET Q q 0 0 0 rg BT 436.60 528.10 Td (temporary ) Tj ET Q q 0 0 0 rg BT 471.54 528.10 Td (dif) Tj ET Q q 0 0 0 rg BT 480.28 528.10 Td (ferences. ) Tj ET Q q 0 0 0 rg BT 510.84 528.10 Td (The ) Tj ET Q q 0 0 0 rg BT 525.34 528.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 537.18 528.10 Td (benefits ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 518.50 Td (associated ) Tj ET Q q 0 0 0 rg BT 84.38 518.50 Td (with ) Tj ET Q q 0 0 0 rg BT 100.60 518.50 Td (the ) Tj ET Q q 0 0 0 rg BT 112.37 518.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 124.14 518.50 Td (losses ) Tj ET Q q 0 0 0 rg BT 145.26 518.50 Td (in ) Tj ET Q q 0 0 0 rg BT 153.48 518.50 Td (the ) Tj ET Q q 0 0 0 rg BT 165.25 518.50 Td (United ) Tj ET Q q 0 0 0 rg BT 189.03 518.50 Td (Kingdom ) Tj ET Q q 0 0 0 rg BT 221.25 518.50 Td (are ) Tj ET Q q 0 0 0 rg BT 233.02 518.50 Td (only ) Tj ET Q q 0 0 0 rg BT 249.24 518.50 Td (recognized ) Tj ET Q q 0 0 0 rg BT 286.33 518.50 Td (in ) Tj ET Q q 0 0 0 rg BT 294.55 518.50 Td (the ) Tj ET Q q 0 0 0 rg BT 306.32 518.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 336.31 518.50 Td (statements ) Tj ET Q q 0 0 0 rg BT 372.08 518.50 Td (as ) Tj ET Q q 0 0 0 rg BT 380.74 518.50 Td (they ) Tj ET Q q 0 0 0 rg BT 396.52 518.50 Td (are ) Tj ET Q q 0 0 0 rg BT 408.28 518.50 Td (utilized.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 502.90 Td (As ) Tj ET Q q 0 0 0 rg BT 60.39 502.90 Td (at ) Tj ET Q q 0 0 0 rg BT 68.16 502.90 Td (December ) Tj ET Q q 0 0 0 rg BT 103.03 502.90 Td (31, ) Tj ET Q q 0 0 0 rg BT 115.03 502.90 Td (2014 ) Tj ET Q q 0 0 0 rg BT 133.03 502.90 Td (and ) Tj ET Q q 0 0 0 rg BT 146.58 502.90 Td (2013 ) Tj ET Q q 0 0 0 rg BT 164.58 502.90 Td (the ) Tj ET Q q 0 0 0 rg BT 176.36 502.90 Td (company ) Tj ET Q q 0 0 0 rg BT 207.68 502.90 Td (had ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.23 502.90 Td (no) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 229.23 502.90 Td ( ) Tj ET Q q 0 0 0 rg BT 231.23 502.90 Td (undistributed ) Tj ET Q q 0 0 0 rg BT 275.45 502.90 Td (earnings ) Tj ET Q q 0 0 0 rg BT 304.55 502.90 Td (in ) Tj ET Q q 0 0 0 rg BT 312.77 502.90 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 352.55 502.90 Td (giving ) Tj ET Q q 0 0 0 rg BT 374.99 502.90 Td (rise ) Tj ET Q q 0 0 0 rg BT 388.54 502.90 Td (to ) Tj ET Q q 0 0 0 rg BT 396.77 502.90 Td (a ) Tj ET Q q 0 0 0 rg BT 402.32 502.90 Td (temporary ) Tj ET Q q 0 0 0 rg BT 437.19 502.90 Td (dif) Tj ET Q q 0 0 0 rg BT 445.93 502.90 Td (ference.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 487.30 Td (A) Tj ET Q q 0 0 0 rg BT 54.84 487.30 Td ( ) Tj ET Q q 0 0 0 rg BT 56.84 487.30 Td (reconciliation ) Tj ET Q q 0 0 0 rg BT 102.82 487.30 Td (of ) Tj ET Q q 0 0 0 rg BT 111.48 487.30 Td (the ) Tj ET Q q 0 0 0 rg BT 123.25 487.30 Td (beginning ) Tj ET Q q 0 0 0 rg BT 157.25 487.30 Td (and ) Tj ET Q q 0 0 0 rg BT 170.80 487.30 Td (ending ) Tj ET Q q 0 0 0 rg BT 194.57 487.30 Td (amount ) Tj ET Q q 0 0 0 rg BT 220.57 487.30 Td (of ) Tj ET Q q 0 0 0 rg BT 229.23 487.30 Td (unrecognized ) Tj ET Q q 0 0 0 rg BT 274.32 487.30 Td (tax ) Tj ET Q q 0 0 0 rg BT 286.10 487.30 Td (benefits ) Tj ET Q q 0 0 0 rg BT 313.42 487.30 Td (is ) Tj ET Q q 0 0 0 rg BT 320.76 487.30 Td (as ) Tj ET Q q 0 0 0 rg BT 329.42 487.30 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 476.80 412.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 476.80 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 446.80 412.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 446.80 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 416.80 412.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 416.80 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 386.80 412.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 386.80 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 356.80 412.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 356.80 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 326.80 412.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 326.80 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 296.80 412.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 296.80 100.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 401.8 m 561.5 401.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 341.8 m 561.5 341.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 296.8 m 561.5 296.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 282.8 m 561.5 282.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 280.8 m 561.5 280.8 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 466.03 Td (Balance at December 31, 2011) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.00 466.03 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.30 466.03 Td (23,130) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 451.05 Td (Increases for tax positions taken during a prior period) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 451.05 Td (8,283) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 436.05 Td (Increases for tax positions taken during the current period) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 436.05 Td (2,850) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 421.05 Td (Settlements with tax authorities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 421.05 Td (\(34,107) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 421.05 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 406.05 Td (Decreases resulting from the expiry of the statute of limitations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.60 406.05 Td (\(44) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 406.05 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 391.03 Td (Balance at December 31, 2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.30 391.03 Td (112) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 376.05 Td (Increases for tax positions taken during a prior period) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.30 376.05 Td (51) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 361.05 Td (Increases for tax positions taken during the current period) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.30 361.05 Td (20) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 346.05 Td (Decreases resulting from the expiry of the statute of limitations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.60 346.05 Td (\(75) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 346.05 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 331.03 Td (Balance at December 31, 2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.30 331.03 Td (108) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 316.05 Td (Decreases resulting from the expiry of the statute of limitations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.60 316.05 Td (\(51) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 316.05 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 301.05 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.60 301.05 Td (\(4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 301.05 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 286.03 Td (Balance at December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.00 286.03 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 550.30 286.03 Td (53) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 266.70 Td (During ) Tj ET Q q 0 0 0 rg BT 74.48 266.70 Td (2012, ) Tj ET Q q 0 0 0 rg BT 94.80 266.70 Td (we ) Tj ET Q q 0 0 0 rg BT 106.45 266.70 Td (agreed ) Tj ET Q q 0 0 0 rg BT 130.08 266.70 Td (with ) Tj ET Q q 0 0 0 rg BT 146.62 266.70 Td (the ) Tj ET Q q 0 0 0 rg BT 158.71 266.70 Td (Dutch ) Tj ET Q q 0 0 0 rg BT 180.58 266.70 Td (tax ) Tj ET Q q 0 0 0 rg BT 192.68 266.70 Td (authorities ) Tj ET Q q 0 0 0 rg BT 228.76 266.70 Td (as ) Tj ET Q q 0 0 0 rg BT 237.75 266.70 Td (to ) Tj ET Q q 0 0 0 rg BT 246.29 266.70 Td (the ) Tj ET Q q 0 0 0 rg BT 258.38 266.70 Td (amount ) Tj ET Q q 0 0 0 rg BT 284.69 266.70 Td (of ) Tj ET Q q 0 0 0 rg BT 293.68 266.70 Td (the ) Tj ET Q q 0 0 0 rg BT 305.77 266.70 Td (tax ) Tj ET Q q 0 0 0 rg BT 317.86 266.70 Td (losses ) Tj ET Q q 0 0 0 rg BT 339.29 266.70 Td (available ) Tj ET Q q 0 0 0 rg BT 370.48 266.70 Td (to ) Tj ET Q q 0 0 0 rg BT 379.02 266.70 Td (the ) Tj ET Q q 0 0 0 rg BT 391.11 266.70 Td (Company's ) Tj ET Q q 0 0 0 rg BT 429.10 266.70 Td (main ) Tj ET Q q 0 0 0 rg BT 447.41 266.70 Td (Netherlands ) Tj ET Q q 0 0 0 rg BT 488.38 266.70 Td (holding ) Tj ET Q q 0 0 0 rg BT 515.14 266.70 Td (company) Tj ET Q q 0 0 0 rg BT 543.95 266.70 Td (. ) Tj ET Q q 0 0 0 rg BT 547.76 266.70 Td (As ) Tj ET Q q 0 0 0 rg BT 558.96 266.70 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 257.10 Td (result, ) Tj ET Q q 0 0 0 rg BT 71.27 257.10 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.50 257.10 Td (34.1 ) Tj ET Q q 0 0 0 rg BT 103.50 257.10 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 126.61 257.10 Td ( ) Tj ET Q q 0 0 0 rg BT 128.61 257.10 Td (of ) Tj ET Q q 0 0 0 rg BT 137.28 257.10 Td (the ) Tj ET Q q 0 0 0 rg BT 149.05 257.10 Td (provision ) Tj ET Q q 0 0 0 rg BT 181.27 257.10 Td (for ) Tj ET Q q 0 0 0 rg BT 192.60 257.10 Td (unrecognized ) Tj ET Q q 0 0 0 rg BT 237.69 257.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 249.46 257.10 Td (benefits ) Tj ET Q q 0 0 0 rg BT 276.79 257.10 Td (was ) Tj ET Q q 0 0 0 rg BT 291.23 257.10 Td (applied ) Tj ET Q q 0 0 0 rg BT 316.78 257.10 Td (against ) Tj ET Q q 0 0 0 rg BT 341.44 257.10 Td (the ) Tj ET Q q 0 0 0 rg BT 353.21 257.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 381.86 257.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 393.63 257.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 411.18 257.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 449.61 257.10 Td (to ) Tj ET Q q 0 0 0 rg BT 457.83 257.10 Td (these ) Tj ET Q q 0 0 0 rg BT 476.27 257.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 488.04 257.10 Td (losses. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 241.50 Td (Our ) Tj ET Q q 0 0 0 rg BT 63.78 241.50 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 103.40 241.50 Td (file ) Tj ET Q q 0 0 0 rg BT 115.90 241.50 Td (income ) Tj ET Q q 0 0 0 rg BT 141.29 241.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 152.90 241.50 Td (returns ) Tj ET Q q 0 0 0 rg BT 176.96 241.50 Td (in ) Tj ET Q q 0 0 0 rg BT 184.89 241.50 Td (The ) Tj ET Q q 0 0 0 rg BT 199.16 241.50 Td (Netherlands ) Tj ET Q q 0 0 0 rg BT 239.66 241.50 Td (and ) Tj ET Q q 0 0 0 rg BT 253.05 241.50 Td (various ) Tj ET Q q 0 0 0 rg BT 278.44 241.50 Td (other ) Tj ET Q q 0 0 0 rg BT 296.72 241.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 308.33 241.50 Td (jurisdictions. ) Tj ET Q q 0 0 0 rg BT 351.32 241.50 Td (As ) Tj ET Q q 0 0 0 rg BT 362.05 241.50 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 369.67 241.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 416.38 241.50 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.38 241.50 Td (, ) Tj ET Q q 0 0 0 rg BT 436.22 241.50 Td (analyzed ) Tj ET Q q 0 0 0 rg BT 466.48 241.50 Td (by ) Tj ET Q q 0 0 0 rg BT 476.32 241.50 Td (major ) Tj ET Q q 0 0 0 rg BT 496.83 241.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 508.44 241.50 Td (jurisdictions, ) Tj ET Q q 0 0 0 rg BT 551.83 241.50 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 231.90 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 89.27 231.90 Td (are ) Tj ET Q q 0 0 0 rg BT 101.04 231.90 Td (generally ) Tj ET Q q 0 0 0 rg BT 132.80 231.90 Td (no ) Tj ET Q q 0 0 0 rg BT 142.80 231.90 Td (longer ) Tj ET Q q 0 0 0 rg BT 165.24 231.90 Td (subject ) Tj ET Q q 0 0 0 rg BT 189.90 231.90 Td (to ) Tj ET Q q 0 0 0 rg BT 198.12 231.90 Td (income ) Tj ET Q q 0 0 0 rg BT 223.67 231.90 Td (tax ) Tj ET Q q 0 0 0 rg BT 235.44 231.90 Td (examinations ) Tj ET Q q 0 0 0 rg BT 280.10 231.90 Td (for ) Tj ET Q q 0 0 0 rg BT 291.43 231.90 Td (years ) Tj ET Q q 0 0 0 rg BT 310.30 231.90 Td (before:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 206.40 462.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 206.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 176.40 462.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 176.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 146.40 462.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 146.40 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 116.40 462.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 116.40 50.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50 206.39999999999998 m 512 206.39999999999998 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 512 206.39999999999998 m 562 206.39999999999998 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 266.05 210.63 Td (Country) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 542.65 210.63 Td (Year) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 195.65 Td (Bulgaria) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 542.50 195.65 Td (2009) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 180.65 Td (Croatia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 542.50 180.65 Td (2010) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 165.65 Td (Czech Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 542.50 165.65 Td (2008) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 150.65 Td (The Netherlands) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 542.50 150.65 Td (2010) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 135.65 Td (Romania) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 542.50 135.65 Td (2008) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 120.65 Td (Slovak Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 542.50 120.65 Td (2009) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 105.65 Td (Slovenia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 542.50 105.65 Td (2008) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 90.65 Td (United Kingdom) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 542.50 90.65 Td (2013) Tj ET Q BT /F1 8.00 Tf ET endstream endobj 157 0 obj <>] /Rotate 0 /Contents 158 0 R>> endobj 158 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (76) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 723.50 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 723.50 Td (e ) Tj ET Q q 0 0 0 rg BT 61.87 723.50 Td (recognize, ) Tj ET Q q 0 0 0 rg BT 96.87 723.50 Td (when ) Tj ET Q q 0 0 0 rg BT 116.10 723.50 Td (applicable, ) Tj ET Q q 0 0 0 rg BT 152.88 723.50 Td (both ) Tj ET Q q 0 0 0 rg BT 169.01 723.50 Td (accrued ) Tj ET Q q 0 0 0 rg BT 195.79 723.50 Td (interest ) Tj ET Q q 0 0 0 rg BT 221.24 723.50 Td (and ) Tj ET Q q 0 0 0 rg BT 234.70 723.50 Td (penalties ) Tj ET Q q 0 0 0 rg BT 265.04 723.50 Td (related ) Tj ET Q q 0 0 0 rg BT 288.71 723.50 Td (to ) Tj ET Q q 0 0 0 rg BT 296.85 723.50 Td (unrecognized ) Tj ET Q q 0 0 0 rg BT 341.84 723.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 353.53 723.50 Td (benefits ) Tj ET Q q 0 0 0 rg BT 380.76 723.50 Td (in ) Tj ET Q q 0 0 0 rg BT 388.89 723.50 Td (income ) Tj ET Q q 0 0 0 rg BT 414.34 723.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 426.03 723.50 Td (expense ) Tj ET Q q 0 0 0 rg BT 453.70 723.50 Td (in ) Tj ET Q q 0 0 0 rg BT 461.83 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 473.51 723.50 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 522.07 723.50 Td (consolidated ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 713.90 Td (statements ) Tj ET Q q 0 0 0 rg BT 85.27 713.90 Td (of ) Tj ET Q q 0 0 0 rg BT 93.93 713.90 Td (operations.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 698.30 Td (There ) Tj ET Q q 0 0 0 rg BT 70.15 698.30 Td (were ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.70 698.30 Td (no) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 95.70 698.30 Td ( ) Tj ET Q q 0 0 0 rg BT 97.70 698.30 Td (significant ) Tj ET Q q 0 0 0 rg BT 133.46 698.30 Td (interest ) Tj ET Q q 0 0 0 rg BT 159.01 698.30 Td (or ) Tj ET Q q 0 0 0 rg BT 167.68 698.30 Td (penalties ) Tj ET Q q 0 0 0 rg BT 198.11 698.30 Td (accrued ) Tj ET Q q 0 0 0 rg BT 224.98 698.30 Td (in ) Tj ET Q q 0 0 0 rg BT 233.20 698.30 Td (the ) Tj ET Q q 0 0 0 rg BT 244.97 698.30 Td (years ) Tj ET Q q 0 0 0 rg BT 263.85 698.30 Td (ended ) Tj ET Q q 0 0 0 rg BT 284.95 698.30 Td (December ) Tj ET Q q 0 0 0 rg BT 319.82 698.30 Td (31, ) Tj ET Q q 0 0 0 rg BT 331.82 698.30 Td (2014, ) Tj ET Q q 0 0 0 rg BT 351.82 698.30 Td (2013 ) Tj ET Q q 0 0 0 rg BT 369.82 698.30 Td (and ) Tj ET Q q 0 0 0 rg BT 383.37 698.30 Td (2012.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 676.70 Td (19. ) Tj ET Q q 0 0 0 rg BT 67.50 676.70 Td (EARNINGS ) Tj ET Q q 0 0 0 rg BT 111.73 676.70 Td (PER ) Tj ET Q q 0 0 0 rg BT 129.73 676.70 Td (SHARE) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 661.10 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 661.10 Td (e ) Tj ET Q q 0 0 0 rg BT 61.75 661.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 99.52 661.10 Td (that ) Tj ET Q q 0 0 0 rg BT 113.30 661.10 Td (the ) Tj ET Q q 0 0 0 rg BT 124.86 661.10 Td (Series ) Tj ET Q q 0 0 0 rg BT 146.19 661.10 Td (B ) Tj ET Q q 0 0 0 rg BT 153.31 661.10 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 184.86 661.10 Td (Shares ) Tj ET Q q 0 0 0 rg BT 207.97 661.10 Td (are ) Tj ET Q q 0 0 0 rg BT 219.52 661.10 Td (a ) Tj ET Q q 0 0 0 rg BT 224.86 661.10 Td (participating ) Tj ET Q q 0 0 0 rg BT 267.07 661.10 Td (security) Tj ET Q q 0 0 0 rg BT 291.88 661.10 Td (, ) Tj ET Q q 0 0 0 rg BT 295.66 661.10 Td (and ) Tj ET Q q 0 0 0 rg BT 309.00 661.10 Td (accordingly) Tj ET Q q 0 0 0 rg BT 346.24 661.10 Td (, ) Tj ET Q q 0 0 0 rg BT 350.02 661.10 Td (our ) Tj ET Q q 0 0 0 rg BT 362.47 661.10 Td (basic ) Tj ET Q q 0 0 0 rg BT 380.70 661.10 Td (and ) Tj ET Q q 0 0 0 rg BT 394.03 661.10 Td (diluted ) Tj ET Q q 0 0 0 rg BT 418.04 661.10 Td (net ) Tj ET Q q 0 0 0 rg BT 429.59 661.10 Td (income ) Tj ET Q q 0 0 0 rg BT 454.93 661.10 Td (/ ) Tj ET Q q 0 0 0 rg BT 458.93 661.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 473.17 661.10 Td (per ) Tj ET Q q 0 0 0 rg BT 485.17 661.10 Td (share ) Tj ET Q q 0 0 0 rg BT 503.83 661.10 Td (is ) Tj ET Q q 0 0 0 rg BT 510.95 661.10 Td (calculated ) Tj ET Q q 0 0 0 rg BT 545.16 661.10 Td (using ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 651.50 Td (the ) Tj ET Q q 0 0 0 rg BT 61.93 651.50 Td (two-class ) Tj ET Q q 0 0 0 rg BT 94.80 651.50 Td (method. ) Tj ET Q q 0 0 0 rg BT 123.46 651.50 Td (Under ) Tj ET Q q 0 0 0 rg BT 146.11 651.50 Td (the ) Tj ET Q q 0 0 0 rg BT 158.54 651.50 Td (two-class ) Tj ET Q q 0 0 0 rg BT 191.41 651.50 Td (method, ) Tj ET Q q 0 0 0 rg BT 220.07 651.50 Td (basic ) Tj ET Q q 0 0 0 rg BT 239.16 651.50 Td (net ) Tj ET Q q 0 0 0 rg BT 251.60 651.50 Td (income ) Tj ET Q q 0 0 0 rg BT 277.80 651.50 Td (/ ) Tj ET Q q 0 0 0 rg BT 282.68 651.50 Td (loss ) Tj ET Q q 0 0 0 rg BT 297.79 651.50 Td (per ) Tj ET Q q 0 0 0 rg BT 310.66 651.50 Td (common ) Tj ET Q q 0 0 0 rg BT 341.32 651.50 Td (share ) Tj ET Q q 0 0 0 rg BT 360.85 651.50 Td (is ) Tj ET Q q 0 0 0 rg BT 368.85 651.50 Td (computed ) Tj ET Q q 0 0 0 rg BT 403.05 651.50 Td (by ) Tj ET Q q 0 0 0 rg BT 413.71 651.50 Td (dividing ) Tj ET Q q 0 0 0 rg BT 443.04 651.50 Td (the ) Tj ET Q q 0 0 0 rg BT 455.47 651.50 Td (net ) Tj ET Q q 0 0 0 rg BT 467.90 651.50 Td (income ) Tj ET Q q 0 0 0 rg BT 494.11 651.50 Td (available ) Tj ET Q q 0 0 0 rg BT 525.63 651.50 Td (to ) Tj ET Q q 0 0 0 rg BT 534.52 651.50 Td (common ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 641.90 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 92.03 641.90 Td (after ) Tj ET Q q 0 0 0 rg BT 108.79 641.90 Td (deducting ) Tj ET Q q 0 0 0 rg BT 142.44 641.90 Td (contractual ) Tj ET Q q 0 0 0 rg BT 180.08 641.90 Td (amounts ) Tj ET Q q 0 0 0 rg BT 209.29 641.90 Td (of ) Tj ET Q q 0 0 0 rg BT 218.06 641.90 Td (accretion ) Tj ET Q q 0 0 0 rg BT 249.47 641.90 Td (on ) Tj ET Q q 0 0 0 rg BT 259.58 641.90 Td (our ) Tj ET Q q 0 0 0 rg BT 272.35 641.90 Td (Series ) Tj ET Q q 0 0 0 rg BT 294.00 641.90 Td (B ) Tj ET Q q 0 0 0 rg BT 301.44 641.90 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 333.30 641.90 Td (Shares ) Tj ET Q q 0 0 0 rg BT 356.73 641.90 Td (by ) Tj ET Q q 0 0 0 rg BT 366.84 641.90 Td (the ) Tj ET Q q 0 0 0 rg BT 378.71 641.90 Td (weighted-average ) Tj ET Q q 0 0 0 rg BT 437.67 641.90 Td (number ) Tj ET Q q 0 0 0 rg BT 464.21 641.90 Td (of ) Tj ET Q q 0 0 0 rg BT 472.98 641.90 Td (common ) Tj ET Q q 0 0 0 rg BT 503.08 641.90 Td (shares ) Tj ET Q q 0 0 0 rg BT 525.18 641.90 Td (outstanding ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 632.30 Td (during ) Tj ET Q q 0 0 0 rg BT 71.67 632.30 Td (the ) Tj ET Q q 0 0 0 rg BT 82.72 632.30 Td (period. ) Tj ET Q q 0 0 0 rg BT 106.44 632.30 Td (Diluted ) Tj ET Q q 0 0 0 rg BT 131.72 632.30 Td (net ) Tj ET Q q 0 0 0 rg BT 142.77 632.30 Td (income ) Tj ET Q q 0 0 0 rg BT 167.60 632.30 Td (/ ) Tj ET Q q 0 0 0 rg BT 171.11 632.30 Td (loss ) Tj ET Q q 0 0 0 rg BT 184.84 632.30 Td (per ) Tj ET Q q 0 0 0 rg BT 196.33 632.30 Td (share ) Tj ET Q q 0 0 0 rg BT 214.49 632.30 Td (is ) Tj ET Q q 0 0 0 rg BT 221.11 632.30 Td (computed ) Tj ET Q q 0 0 0 rg BT 253.94 632.30 Td (by ) Tj ET Q q 0 0 0 rg BT 263.22 632.30 Td (dividing ) Tj ET Q q 0 0 0 rg BT 291.17 632.30 Td (the ) Tj ET Q q 0 0 0 rg BT 302.22 632.30 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 330.16 632.30 Td (net ) Tj ET Q q 0 0 0 rg BT 341.22 632.30 Td (income ) Tj ET Q q 0 0 0 rg BT 366.05 632.30 Td (by ) Tj ET Q q 0 0 0 rg BT 375.33 632.30 Td (the ) Tj ET Q q 0 0 0 rg BT 386.38 632.30 Td (weighted-average ) Tj ET Q q 0 0 0 rg BT 444.52 632.30 Td (number ) Tj ET Q q 0 0 0 rg BT 470.24 632.30 Td (of ) Tj ET Q q 0 0 0 rg BT 478.18 632.30 Td (dilutive ) Tj ET Q q 0 0 0 rg BT 503.91 632.30 Td (shares ) Tj ET Q q 0 0 0 rg BT 525.18 632.30 Td (outstanding ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 622.70 Td (during ) Tj ET Q q 0 0 0 rg BT 72.39 622.70 Td (the ) Tj ET Q q 0 0 0 rg BT 84.16 622.70 Td (period.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 607.10 Td (The ) Tj ET Q q 0 0 0 rg BT 63.94 607.10 Td (components ) Tj ET Q q 0 0 0 rg BT 104.60 607.10 Td (of ) Tj ET Q q 0 0 0 rg BT 113.26 607.10 Td (basic ) Tj ET Q q 0 0 0 rg BT 131.70 607.10 Td (and ) Tj ET Q q 0 0 0 rg BT 145.25 607.10 Td (diluted ) Tj ET Q q 0 0 0 rg BT 169.47 607.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 198.57 607.10 Td (per ) Tj ET Q q 0 0 0 rg BT 210.79 607.10 Td (share ) Tj ET Q q 0 0 0 rg BT 229.66 607.10 Td (are ) Tj ET Q q 0 0 0 rg BT 241.43 607.10 Td (as ) Tj ET Q q 0 0 0 rg BT 250.09 607.10 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 566.60 318.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 566.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 566.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 566.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 566.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 566.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 536.60 318.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 536.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 536.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 536.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 536.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 536.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 500.60 318.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 500.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 500.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 500.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 500.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 500.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 470.60 318.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 470.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 470.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 470.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 470.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 470.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 440.60 318.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 440.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 440.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 440.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 440.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 440.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 410.60 318.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 410.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 410.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 410.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 410.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 410.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 380.60 318.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 380.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 380.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 380.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 380.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 380.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 350.60 318.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 350.60 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 350.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 350.60 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 350.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 350.60 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 321.60 318.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 321.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 321.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 321.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 321.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 321.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 291.60 318.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 291.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 291.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 291.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 291.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 291.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 261.60 318.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 261.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 261.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 261.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 261.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 261.60 62.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 368 581.6 m 430 581.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 430 581.6 m 434 581.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 434 581.6 m 496 581.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496 581.6 m 500 581.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 500 581.6 m 562 581.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 368 581.6 m 430 581.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 368 566.6 m 430 566.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 434 581.6 m 496 581.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 434 566.6 m 496 566.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 500 581.6 m 562 581.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 500 566.6 m 562 566.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 521.6 m 430 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 521.6 m 496 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 521.6 m 562 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 521.6 m 430 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 521.6 m 496 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 521.6 m 562 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 485.6 m 430 485.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 485.6 m 496 485.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 485.6 m 562 485.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 425.6 m 430 425.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 411.6 m 430 411.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 409.6 m 430 409.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 425.6 m 496 425.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 411.6 m 496 411.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 409.6 m 496 409.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 425.6 m 562 425.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 411.6 m 562 411.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 409.6 m 562 409.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 365.6 m 430 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 351.6 m 430 351.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 349.6 m 430 349.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 365.6 m 496 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 351.6 m 496 351.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 349.6 m 496 349.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 365.6 m 562 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 351.6 m 562 351.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 349.6 m 562 349.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 585.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 404.25 585.83 Td (For The Year Ending December 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 570.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 410.50 570.83 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.50 570.83 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 542.50 570.83 Td (2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 555.83 Td (Loss ) Tj ET Q q 0 0 0 rg BT 70.06 555.83 Td (fr) Tj ET Q q 0 0 0 rg BT 76.21 555.83 Td (om ) Tj ET Q q 0 0 0 rg BT 88.80 555.83 Td (continuing ) Tj ET Q q 0 0 0 rg BT 127.25 555.83 Td (operations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 370.50 555.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 398.10 555.83 Td (\(151,465) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 426.80 555.83 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.50 555.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.10 555.83 Td (\(276,434) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 555.83 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 502.50 555.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 555.83 Td (\(535,708) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 555.83 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 540.85 Td (Net loss attributable to noncontrolling interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.80 540.85 Td (4,468) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.80 540.85 Td (3,882) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 540.85 Td (10,713) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 525.85 Td (Less: Preferred dividend paid in kind \(Note 12\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.10 525.85 Td (\(16,036) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.80 525.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.10 525.85 Td (\(7,890) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 525.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 525.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 512.83 Td (Loss ) Tj ET Q q 0 0 0 rg BT 70.79 512.83 Td (fr) Tj ET Q q 0 0 0 rg BT 76.86 512.83 Td (om ) Tj ET Q q 0 0 0 rg BT 90.26 512.83 Td (continuing ) Tj ET Q q 0 0 0 rg BT 129.45 512.83 Td (operations ) Tj ET Q q 0 0 0 rg BT 168.18 512.83 Td (available ) Tj ET Q q 0 0 0 rg BT 201.58 512.83 Td (to ) Tj ET Q q 0 0 0 rg BT 210.97 512.83 Td (common ) Tj ET Q q 0 0 0 rg BT 243.03 512.83 Td (shar) Tj ET Q q 0 0 0 rg BT 258.00 512.83 Td (eholders, ) Tj ET Q q 0 0 0 rg BT 291.62 512.83 Td (net ) Tj ET Q q 0 0 0 rg BT 305.02 512.83 Td (of ) Tj ET Q q 0 0 0 rg BT 314.41 512.83 Td (noncontr) Tj ET Q q 0 0 0 rg BT 345.38 512.83 Td (olling ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 70.50 504.83 Td (inter) Tj ET Q q 0 0 0 rg BT 86.79 504.83 Td (est ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 398.10 504.83 Td (\(163,033) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 426.80 504.83 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.10 504.83 Td (\(280,442) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 504.83 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 504.83 Td (\(524,995) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 504.83 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 489.85 Td (Loss from discontinued operations, net of tax \(Note 3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.10 489.85 Td (\(80,431) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.80 489.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.10 489.85 Td (\(5,099) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 489.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 489.85 Td (\(10,685) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 489.85 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 474.83 Td (Net loss attributable to CME Ltd. available to common shareholders - Basic) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 370.50 474.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 398.10 474.83 Td (\(243,464) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 426.80 474.83 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.50 474.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.10 474.83 Td (\(285,541) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 474.83 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 502.50 474.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 474.83 Td (\(535,680) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 474.83 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 444.83 Td (Effect ) Tj ET Q q 0 0 0 rg BT 74.93 444.83 Td (of ) Tj ET Q q 0 0 0 rg BT 83.59 444.83 Td (dilutive ) Tj ET Q q 0 0 0 rg BT 111.38 444.83 Td (securities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 429.85 Td (Preferred dividend paid in kind) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.80 429.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 429.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 429.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 414.83 Td (Net loss attributable to CME Ltd. available to common shareholders - Diluted) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 370.50 414.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 398.10 414.83 Td (\(243,464) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 426.80 414.83 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.50 414.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.10 414.83 Td (\(285,541) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 414.83 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 502.50 414.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 414.83 Td (\(535,680) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 414.83 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 384.83 Td (W) Tj ET Q q 0 0 0 rg BT 60.06 384.83 Td (eighted average outstanding shar) Tj ET Q q 0 0 0 rg BT 173.03 384.83 Td (es of common stock - Basic ) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 266.35 388.46 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.80 384.85 Td (146,509) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.80 384.85 Td (125,723) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 384.85 Td (76,919) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 369.85 Td (Dilutive effect of employee stock options and RSUs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.80 369.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 369.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 369.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 354.83 Td (W) Tj ET Q q 0 0 0 rg BT 60.28 354.83 Td (eighted ) Tj ET Q q 0 0 0 rg BT 86.95 354.83 Td (average ) Tj ET Q q 0 0 0 rg BT 115.60 354.83 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 158.06 354.83 Td (shar) Tj ET Q q 0 0 0 rg BT 173.10 354.83 Td (es ) Tj ET Q q 0 0 0 rg BT 181.69 354.83 Td (of ) Tj ET Q q 0 0 0 rg BT 190.36 354.83 Td (common ) Tj ET Q q 0 0 0 rg BT 221.68 354.83 Td (stock ) Tj ET Q q 0 0 0 rg BT 241.46 354.83 Td (- ) Tj ET Q q 0 0 0 rg BT 246.13 354.83 Td (Diluted) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 400.80 354.83 Td (146,509) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.80 354.83 Td (125,723) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.80 354.83 Td (76,919) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 325.83 Td (Net ) Tj ET Q q 0 0 0 rg BT 66.49 325.83 Td (loss ) Tj ET Q q 0 0 0 rg BT 80.94 325.83 Td (per) Tj ET Q q 0 0 0 rg BT 92.35 325.83 Td ( ) Tj ET Q q 0 0 0 rg BT 94.35 325.83 Td (shar) Tj ET Q q 0 0 0 rg BT 109.32 325.83 Td (e:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 310.85 Td (Continuing operations - Basic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.50 310.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.10 310.85 Td (\(1.11) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.80 310.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.50 310.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.10 310.85 Td (\(2.23) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 310.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.50 310.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 542.10 310.85 Td (\(6.83) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 310.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 295.85 Td (Continuing operations - Diluted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.10 295.85 Td (\(1.11) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.80 295.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.10 295.85 Td (\(2.23) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 295.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 542.10 295.85 Td (\(6.83) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 295.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 280.85 Td (Discontinued operations - Basic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.10 280.85 Td (\(0.55) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.80 280.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.10 280.85 Td (\(0.04) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 280.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 542.10 280.85 Td (\(0.13) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 280.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 265.85 Td (Discontinued operations - Diluted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.10 265.85 Td (\(0.55) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.80 265.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.10 265.85 Td (\(0.04) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 265.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 542.10 265.85 Td (\(0.13) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 265.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 250.85 Td (Net loss attributable to CME Ltd. - Basic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.10 250.85 Td (\(1.66) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.80 250.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.10 250.85 Td (\(2.27) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 250.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 542.10 250.85 Td (\(6.96) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 250.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 235.85 Td (Net loss attributable to CME Ltd. - Diluted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.10 235.85 Td (\(1.66) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.80 235.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.10 235.85 Td (\(2.27) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 235.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 542.10 235.85 Td (\(6.96) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 235.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 216.50 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 67.50 216.50 Td (For ) Tj ET Q q 0 0 0 rg BT 80.37 216.50 Td (the ) Tj ET Q q 0 0 0 rg BT 91.89 216.50 Td (purpose ) Tj ET Q q 0 0 0 rg BT 118.97 216.50 Td (of ) Tj ET Q q 0 0 0 rg BT 127.39 216.50 Td (computing ) Tj ET Q q 0 0 0 rg BT 163.36 216.50 Td (basic ) Tj ET Q q 0 0 0 rg BT 181.55 216.50 Td (earnings ) Tj ET Q q 0 0 0 rg BT 210.40 216.50 Td (per ) Tj ET Q q 0 0 0 rg BT 222.37 216.50 Td (share, ) Tj ET Q q 0 0 0 rg BT 243.00 216.50 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 254.52 216.50 Td (1) Tj ET Q q 0 0 0 rg BT 258.23 216.50 Td (1,21) Tj ET Q q 0 0 0 rg BT 271.93 216.50 Td (1,449) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.93 216.50 Td ( ) Tj ET Q q 0 0 0 rg BT 291.68 216.50 Td (shares ) Tj ET Q q 0 0 0 rg BT 313.43 216.50 Td (of ) Tj ET Q q 0 0 0 rg BT 321.84 216.50 Td (Class ) Tj ET Q q 0 0 0 rg BT 340.54 216.50 Td (A) Tj ET Q q 0 0 0 rg BT 345.88 216.50 Td ( ) Tj ET Q q 0 0 0 rg BT 347.63 216.50 Td (common ) Tj ET Q q 0 0 0 rg BT 377.38 216.50 Td (stock ) Tj ET Q q 0 0 0 rg BT 396.02 216.50 Td (underlying ) Tj ET Q q 0 0 0 rg BT 432.43 216.50 Td (the ) Tj ET Q q 0 0 0 rg BT 443.96 216.50 Td (Series ) Tj ET Q q 0 0 0 rg BT 464.87 216.50 Td (A) Tj ET Q q 0 0 0 rg BT 470.21 216.50 Td ( ) Tj ET Q q 0 0 0 rg BT 471.96 216.50 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 503.47 216.50 Td (Share ) Tj ET Q q 0 0 0 rg BT 523.44 216.50 Td (are ) Tj ET Q q 0 0 0 rg BT 534.95 216.50 Td (included ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 206.90 Td (in ) Tj ET Q q 0 0 0 rg BT 75.74 206.90 Td (the ) Tj ET Q q 0 0 0 rg BT 87.54 206.90 Td (weighted ) Tj ET Q q 0 0 0 rg BT 118.88 206.90 Td (average ) Tj ET Q q 0 0 0 rg BT 145.77 206.90 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 185.12 206.90 Td (shares ) Tj ET Q q 0 0 0 rg BT 207.13 206.90 Td (of ) Tj ET Q q 0 0 0 rg BT 215.82 206.90 Td (common ) Tj ET Q q 0 0 0 rg BT 245.84 206.90 Td (stock ) Tj ET Q q 0 0 0 rg BT 264.74 206.90 Td (- ) Tj ET Q q 0 0 0 rg BT 269.43 206.90 Td (basic, ) Tj ET Q q 0 0 0 rg BT 289.89 206.90 Td (primarily ) Tj ET Q q 0 0 0 rg BT 321.68 206.90 Td (because ) Tj ET Q q 0 0 0 rg BT 349.01 206.90 Td (the ) Tj ET Q q 0 0 0 rg BT 360.81 206.90 Td (holder ) Tj ET Q q 0 0 0 rg BT 383.26 206.90 Td (of ) Tj ET Q q 0 0 0 rg BT 391.95 206.90 Td (the ) Tj ET Q q 0 0 0 rg BT 403.74 206.90 Td (Series ) Tj ET Q q 0 0 0 rg BT 424.87 206.90 Td (A) Tj ET Q q 0 0 0 rg BT 430.20 206.90 Td ( ) Tj ET Q q 0 0 0 rg BT 432.23 206.90 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 464.00 206.90 Td (Share ) Tj ET Q q 0 0 0 rg BT 484.24 206.90 Td (is ) Tj ET Q q 0 0 0 rg BT 491.60 206.90 Td (entitled ) Tj ET Q q 0 0 0 rg BT 517.61 206.90 Td (to ) Tj ET Q q 0 0 0 rg BT 525.85 206.90 Td (receive ) Tj ET Q q 0 0 0 rg BT 550.96 206.90 Td (any ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 197.30 Td (dividends ) Tj ET Q q 0 0 0 rg BT 100.61 197.30 Td (payable ) Tj ET Q q 0 0 0 rg BT 127.48 197.30 Td (when ) Tj ET Q q 0 0 0 rg BT 146.81 197.30 Td (dividends ) Tj ET Q q 0 0 0 rg BT 179.92 197.30 Td (are ) Tj ET Q q 0 0 0 rg BT 191.69 197.30 Td (declared ) Tj ET Q q 0 0 0 rg BT 220.78 197.30 Td (by ) Tj ET Q q 0 0 0 rg BT 230.78 197.30 Td (the ) Tj ET Q q 0 0 0 rg BT 242.55 197.30 Td (Board ) Tj ET Q q 0 0 0 rg BT 264.10 197.30 Td (of ) Tj ET Q q 0 0 0 rg BT 272.77 197.30 Td (Directors ) Tj ET Q q 0 0 0 rg BT 304.53 197.30 Td (with ) Tj ET Q q 0 0 0 rg BT 320.75 197.30 Td (respect ) Tj ET Q q 0 0 0 rg BT 345.41 197.30 Td (to ) Tj ET Q q 0 0 0 rg BT 353.63 197.30 Td (any ) Tj ET Q q 0 0 0 rg BT 367.18 197.30 Td (shares ) Tj ET Q q 0 0 0 rg BT 389.17 197.30 Td (of ) Tj ET Q q 0 0 0 rg BT 397.84 197.30 Td (the ) Tj ET Q q 0 0 0 rg BT 409.61 197.30 Td (common ) Tj ET Q q 0 0 0 rg BT 439.61 197.30 Td (stock.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 181.70 Td (At ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.81 181.70 Td (December31, ) Tj ET Q q 0 0 0 rg BT 104.99 181.70 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 120.99 181.70 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 124.30 181.70 Td (1,324,920) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 156.30 181.70 Td ( ) Tj ET Q q 0 0 0 rg BT 157.61 181.70 Td (\() Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 160.28 181.70 Td (December31, ) Tj ET Q q 0 0 0 rg BT 206.46 181.70 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 222.46 181.70 Td (: ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 225.99 181.70 Td (1,425,477) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 257.99 181.70 Td (\) ) Tj ET Q q 0 0 0 rg BT 261.97 181.70 Td (stock ) Tj ET Q q 0 0 0 rg BT 280.16 181.70 Td (options ) Tj ET Q q 0 0 0 rg BT 305.03 181.70 Td (and ) Tj ET Q q 0 0 0 rg BT 317.90 181.70 Td (warrants ) Tj ET Q q 0 0 0 rg BT 346.75 181.70 Td (were ) Tj ET Q q 0 0 0 rg BT 363.61 181.70 Td (antidilutive ) Tj ET Q q 0 0 0 rg BT 401.35 181.70 Td (to ) Tj ET Q q 0 0 0 rg BT 408.89 181.70 Td (income ) Tj ET Q q 0 0 0 rg BT 433.75 181.70 Td (from ) Tj ET Q q 0 0 0 rg BT 450.61 181.70 Td (continuing ) Tj ET Q q 0 0 0 rg BT 486.14 181.70 Td (operations ) Tj ET Q q 0 0 0 rg BT 520.78 181.70 Td (and ) Tj ET Q q 0 0 0 rg BT 533.64 181.70 Td (excluded ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 172.10 Td (from ) Tj ET Q q 0 0 0 rg BT 66.39 172.10 Td (the ) Tj ET Q q 0 0 0 rg BT 77.51 172.10 Td (calculation ) Tj ET Q q 0 0 0 rg BT 113.94 172.10 Td (of ) Tj ET Q q 0 0 0 rg BT 121.95 172.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 150.39 172.10 Td (per ) Tj ET Q q 0 0 0 rg BT 161.95 172.10 Td (share. ) Tj ET Q q 0 0 0 rg BT 182.07 172.10 Td (These ) Tj ET Q q 0 0 0 rg BT 202.52 172.10 Td (may ) Tj ET Q q 0 0 0 rg BT 217.63 172.10 Td (become ) Tj ET Q q 0 0 0 rg BT 243.85 172.10 Td (dilutive ) Tj ET Q q 0 0 0 rg BT 269.63 172.10 Td (in ) Tj ET Q q 0 0 0 rg BT 277.20 172.10 Td (the ) Tj ET Q q 0 0 0 rg BT 288.31 172.10 Td (future. ) Tj ET Q q 0 0 0 rg BT 310.75 172.10 Td (Shares ) Tj ET Q q 0 0 0 rg BT 333.42 172.10 Td (of ) Tj ET Q q 0 0 0 rg BT 341.43 172.10 Td (Class ) Tj ET Q q 0 0 0 rg BT 359.81 172.10 Td (A) Tj ET Q q 0 0 0 rg BT 365.15 172.10 Td ( ) Tj ET Q q 0 0 0 rg BT 366.49 172.10 Td (common ) Tj ET Q q 0 0 0 rg BT 395.83 172.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 414.06 172.10 Td (potentially ) Tj ET Q q 0 0 0 rg BT 449.61 172.10 Td (issuable ) Tj ET Q q 0 0 0 rg BT 476.73 172.10 Td (under ) Tj ET Q q 0 0 0 rg BT 496.28 172.10 Td (the ) Tj ET Q q 0 0 0 rg BT 507.40 172.10 Td (2015 ) Tj ET Q q 0 0 0 rg BT 524.74 172.10 Td (Convertible ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 162.50 Td (Notes ) Tj ET Q q 0 0 0 rg BT 69.84 162.50 Td (may ) Tj ET Q q 0 0 0 rg BT 85.29 162.50 Td (also ) Tj ET Q q 0 0 0 rg BT 99.86 162.50 Td (become ) Tj ET Q q 0 0 0 rg BT 126.41 162.50 Td (dilutive ) Tj ET Q q 0 0 0 rg BT 152.53 162.50 Td (in ) Tj ET Q q 0 0 0 rg BT 160.43 162.50 Td (the ) Tj ET Q q 0 0 0 rg BT 171.88 162.50 Td (future, ) Tj ET Q q 0 0 0 rg BT 194.66 162.50 Td (although ) Tj ET Q q 0 0 0 rg BT 224.33 162.50 Td (they ) Tj ET Q q 0 0 0 rg BT 239.79 162.50 Td (were ) Tj ET Q q 0 0 0 rg BT 257.01 162.50 Td (antidilutive ) Tj ET Q q 0 0 0 rg BT 295.12 162.50 Td (to ) Tj ET Q q 0 0 0 rg BT 303.02 162.50 Td (income ) Tj ET Q q 0 0 0 rg BT 328.25 162.50 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 335.70 162.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 382.24 162.50 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.24 162.50 Td (. ) Tj ET Q q 0 0 0 rg BT 401.92 162.50 Td (Our ) Tj ET Q q 0 0 0 rg BT 416.04 162.50 Td (Series ) Tj ET Q q 0 0 0 rg BT 437.27 162.50 Td (B ) Tj ET Q q 0 0 0 rg BT 444.28 162.50 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 475.72 162.50 Td (Shares ) Tj ET Q q 0 0 0 rg BT 498.72 162.50 Td (were ) Tj ET Q q 0 0 0 rg BT 515.94 162.50 Td (not ) Tj ET Q q 0 0 0 rg BT 527.84 162.50 Td (considered ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 152.90 Td (for ) Tj ET Q q 0 0 0 rg BT 60.98 152.90 Td (dilution ) Tj ET Q q 0 0 0 rg BT 88.01 152.90 Td (as ) Tj ET Q q 0 0 0 rg BT 96.83 152.90 Td (they ) Tj ET Q q 0 0 0 rg BT 112.75 152.90 Td (are ) Tj ET Q q 0 0 0 rg BT 124.66 152.90 Td (not ) Tj ET Q q 0 0 0 rg BT 137.03 152.90 Td (convertible ) Tj ET Q q 0 0 0 rg BT 175.16 152.90 Td (prior ) Tj ET Q q 0 0 0 rg BT 192.86 152.90 Td (to ) Tj ET Q q 0 0 0 rg BT 201.23 152.90 Td (June ) Tj ET Q q 0 0 0 rg BT 218.04 152.90 Td (25, ) Tj ET Q q 0 0 0 rg BT 230.19 152.90 Td (2016. ) Tj ET Q q 0 0 0 rg BT 249.86 152.90 Td (As ) Tj ET Q q 0 0 0 rg BT 260.90 152.90 Td (set ) Tj ET Q q 0 0 0 rg BT 271.93 152.90 Td (forth ) Tj ET Q q 0 0 0 rg BT 289.63 152.90 Td (in ) Tj ET Q q 0 0 0 rg BT 298.00 152.90 Td (the ) Tj ET Q q 0 0 0 rg BT 309.92 152.90 Td (Certificate ) Tj ET Q q 0 0 0 rg BT 345.83 152.90 Td (of ) Tj ET Q q 0 0 0 rg BT 354.64 152.90 Td (Designation ) Tj ET Q q 0 0 0 rg BT 395.45 152.90 Td (for ) Tj ET Q q 0 0 0 rg BT 406.92 152.90 Td (the ) Tj ET Q q 0 0 0 rg BT 418.84 152.90 Td (Series ) Tj ET Q q 0 0 0 rg BT 440.54 152.90 Td (B ) Tj ET Q q 0 0 0 rg BT 448.03 152.90 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 479.93 152.90 Td (Shares, ) Tj ET Q q 0 0 0 rg BT 505.41 152.90 Td (the ) Tj ET Q q 0 0 0 rg BT 517.33 152.90 Td (holders ) Tj ET Q q 0 0 0 rg BT 543.03 152.90 Td (of ) Tj ET Q q 0 0 0 rg BT 551.84 152.90 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 143.30 Td (Series ) Tj ET Q q 0 0 0 rg BT 71.05 143.30 Td (B ) Tj ET Q q 0 0 0 rg BT 78.39 143.30 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 110.14 143.30 Td (Shares ) Tj ET Q q 0 0 0 rg BT 133.47 143.30 Td (are ) Tj ET Q q 0 0 0 rg BT 145.24 143.30 Td (not ) Tj ET Q q 0 0 0 rg BT 157.46 143.30 Td (contractually ) Tj ET Q q 0 0 0 rg BT 201.22 143.30 Td (obligated ) Tj ET Q q 0 0 0 rg BT 232.99 143.30 Td (to ) Tj ET Q q 0 0 0 rg BT 241.21 143.30 Td (share ) Tj ET Q q 0 0 0 rg BT 260.09 143.30 Td (in ) Tj ET Q q 0 0 0 rg BT 268.31 143.30 Td (our ) Tj ET Q q 0 0 0 rg BT 280.98 143.30 Td (losses.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 121.70 Td (20. ) Tj ET Q q 0 0 0 rg BT 61.50 121.70 Td (SEGMENT) Tj ET Q q 0 0 0 rg BT 101.36 121.70 Td ( ) Tj ET Q q 0 0 0 rg BT 103.36 121.70 Td (DA) Tj ET Q q 0 0 0 rg BT 114.32 121.70 Td (T) Tj ET Q q 0 0 0 rg BT 119.07 121.70 Td (A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 106.10 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 106.10 Td (e ) Tj ET Q q 0 0 0 rg BT 61.52 106.10 Td (manage ) Tj ET Q q 0 0 0 rg BT 87.95 106.10 Td (our ) Tj ET Q q 0 0 0 rg BT 100.17 106.10 Td (business ) Tj ET Q q 0 0 0 rg BT 128.84 106.10 Td (on ) Tj ET Q q 0 0 0 rg BT 138.39 106.10 Td (a ) Tj ET Q q 0 0 0 rg BT 143.50 106.10 Td (geographical ) Tj ET Q q 0 0 0 rg BT 186.37 106.10 Td (basis, ) Tj ET Q q 0 0 0 rg BT 205.92 106.10 Td (with ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.70 106.10 Td (six) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.04 106.10 Td ( ) Tj ET Q q 0 0 0 rg BT 232.59 106.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 264.36 106.10 Td (segments: ) Tj ET Q q 0 0 0 rg BT 297.91 106.10 Td (Bulgaria, ) Tj ET Q q 0 0 0 rg BT 329.01 106.10 Td (Croatia, ) Tj ET Q q 0 0 0 rg BT 356.12 106.10 Td (the ) Tj ET Q q 0 0 0 rg BT 367.44 106.10 Td (Czech ) Tj ET Q q 0 0 0 rg BT 388.99 106.10 Td (Republic, ) Tj ET Q q 0 0 0 rg BT 421.43 106.10 Td (Romania, ) Tj ET Q q 0 0 0 rg BT 453.87 106.10 Td (the ) Tj ET Q q 0 0 0 rg BT 465.19 106.10 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 488.97 106.10 Td (Republic ) Tj ET Q q 0 0 0 rg BT 519.41 106.10 Td (and ) Tj ET Q q 0 0 0 rg BT 532.52 106.10 Td (Slovenia, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 96.50 Td (which ) Tj ET Q q 0 0 0 rg BT 70.70 96.50 Td (are ) Tj ET Q q 0 0 0 rg BT 82.11 96.50 Td (also ) Tj ET Q q 0 0 0 rg BT 96.64 96.50 Td (our ) Tj ET Q q 0 0 0 rg BT 108.95 96.50 Td (reportable ) Tj ET Q q 0 0 0 rg BT 143.03 96.50 Td (segments ) Tj ET Q q 0 0 0 rg BT 174.45 96.50 Td (and ) Tj ET Q q 0 0 0 rg BT 187.64 96.50 Td (our ) Tj ET Q q 0 0 0 rg BT 199.95 96.50 Td (main ) Tj ET Q q 0 0 0 rg BT 217.60 96.50 Td (operating ) Tj ET Q q 0 0 0 rg BT 249.45 96.50 Td (countries.) Tj ET Q q 0 0 0 rg BT 282.63 96.50 Td (These ) Tj ET Q q 0 0 0 rg BT 303.38 96.50 Td (segments ) Tj ET Q q 0 0 0 rg BT 334.80 96.50 Td (reflect ) Tj ET Q q 0 0 0 rg BT 356.87 96.50 Td (how ) Tj ET Q q 0 0 0 rg BT 372.30 96.50 Td (CME ) Tj ET Q q 0 0 0 rg BT 391.28 96.50 Td (Ltd.) Tj ET Q q 0 0 0 rg BT 406.61 96.50 Td (s ) Tj ET Q q 0 0 0 rg BT 411.37 96.50 Td (operating ) Tj ET Q q 0 0 0 rg BT 443.23 96.50 Td (performance ) Tj ET Q q 0 0 0 rg BT 485.29 96.50 Td (is ) Tj ET Q q 0 0 0 rg BT 492.28 96.50 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 524.57 96.50 Td (by ) Tj ET Q q 0 0 0 rg BT 534.22 96.50 Td (our ) Tj ET Q q 0 0 0 rg BT 546.53 96.50 Td (chief ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 86.90 Td (operating ) Tj ET Q q 0 0 0 rg BT 81.86 86.90 Td (decision ) Tj ET Q q 0 0 0 rg BT 110.67 86.90 Td (makers, ) Tj ET Q q 0 0 0 rg BT 137.93 86.90 Td (who ) Tj ET Q q 0 0 0 rg BT 153.86 86.90 Td (we ) Tj ET Q q 0 0 0 rg BT 165.33 86.90 Td (have ) Tj ET Q q 0 0 0 rg BT 182.59 86.90 Td (identified ) Tj ET Q q 0 0 0 rg BT 215.40 86.90 Td (as ) Tj ET Q q 0 0 0 rg BT 224.21 86.90 Td (our ) Tj ET Q q 0 0 0 rg BT 237.03 86.90 Td (co-Chief ) Tj ET Q q 0 0 0 rg BT 267.17 86.90 Td (Executive ) Tj ET Q q 0 0 0 rg BT 301.30 86.90 Td (Of) Tj ET Q q 0 0 0 rg BT 309.60 86.90 Td (ficers; ) Tj ET Q q 0 0 0 rg BT 331.74 86.90 Td (how ) Tj ET Q q 0 0 0 rg BT 347.67 86.90 Td (operations ) Tj ET Q q 0 0 0 rg BT 383.14 86.90 Td (are ) Tj ET Q q 0 0 0 rg BT 395.06 86.90 Td (managed ) Tj ET Q q 0 0 0 rg BT 426.09 86.90 Td (by ) Tj ET Q q 0 0 0 rg BT 436.24 86.90 Td (segment ) Tj ET Q q 0 0 0 rg BT 465.05 86.90 Td (managers; ) Tj ET Q q 0 0 0 rg BT 500.08 86.90 Td (and ) Tj ET Q q 0 0 0 rg BT 513.78 86.90 Td (the ) Tj ET Q q 0 0 0 rg BT 525.70 86.90 Td (structure ) Tj ET Q q 0 0 0 rg BT 555.84 86.90 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 77.30 Td (our ) Tj ET Q q 0 0 0 rg BT 62.16 77.30 Td (internal ) Tj ET Q q 0 0 0 rg BT 88.60 77.30 Td (financial ) Tj ET Q q 0 0 0 rg BT 118.58 77.30 Td (reporting.) 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Tj ET Q endstream endobj 159 0 obj <>] /Rotate 0 /Contents 160 0 R>> endobj 160 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) 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0 0 rg BT 103.69 723.50 Td (performance ) Tj ET Q q 0 0 0 rg BT 146.54 723.50 Td (of ) Tj ET Q q 0 0 0 rg BT 155.64 723.50 Td (our ) Tj ET Q q 0 0 0 rg BT 168.74 723.50 Td (segments ) Tj ET Q q 0 0 0 rg BT 200.95 723.50 Td (based ) Tj ET Q q 0 0 0 rg BT 221.60 723.50 Td (on ) Tj ET Q q 0 0 0 rg BT 232.04 723.50 Td (net ) Tj ET Q q 0 0 0 rg BT 244.25 723.50 Td (revenues ) Tj ET Q q 0 0 0 rg BT 275.11 723.50 Td (and ) Tj ET Q q 0 0 0 rg BT 289.10 723.50 Td (OIBDA. ) Tj ET Q q 0 0 0 rg BT 318.87 723.50 Td (OIBDA, ) Tj ET Q q 0 0 0 rg BT 348.63 723.50 Td (which ) Tj ET Q q 0 0 0 rg BT 370.62 723.50 Td (includes ) Tj ET Q q 0 0 0 rg BT 399.71 723.50 Td (amortization ) Tj ET Q q 0 0 0 rg BT 442.58 723.50 Td (and ) Tj ET Q q 0 0 0 rg BT 456.57 723.50 Td (impairment ) Tj ET Q q 0 0 0 rg BT 495.88 723.50 Td (of ) Tj ET Q q 0 0 0 rg BT 504.98 723.50 Td (program ) Tj ET Q q 0 0 0 rg BT 534.52 723.50 Td (rights, ) Tj ET Q q 0 0 0 rg BT 557.18 723.50 Td (is ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 713.90 Td (determined ) Tj ET Q q 0 0 0 rg BT 87.21 713.90 Td (as ) Tj ET Q q 0 0 0 rg BT 95.61 713.90 Td (operating ) Tj ET Q q 0 0 0 rg BT 127.55 713.90 Td (income ) Tj ET Q q 0 0 0 rg BT 152.83 713.90 Td (/ ) Tj ET Q q 0 0 0 rg BT 156.78 713.90 Td (loss ) Tj ET Q q 0 0 0 rg BT 170.96 713.90 Td (before ) Tj ET Q q 0 0 0 rg BT 193.12 713.90 Td (depreciation, ) Tj ET Q q 0 0 0 rg BT 236.39 713.90 Td (amortization ) Tj ET Q q 0 0 0 rg BT 278.55 713.90 Td (of ) Tj ET Q q 0 0 0 rg BT 286.94 713.90 Td (intangible ) Tj ET Q q 0 0 0 rg BT 320.66 713.90 Td (assets, ) Tj ET Q q 0 0 0 rg BT 343.06 713.90 Td (impairments ) Tj ET Q q 0 0 0 rg BT 384.78 713.90 Td (of ) Tj ET Q q 0 0 0 rg BT 393.18 713.90 Td (assets ) Tj ET Q q 0 0 0 rg BT 413.57 713.90 Td (and ) Tj ET Q q 0 0 0 rg BT 426.85 713.90 Td (certain ) Tj ET Q q 0 0 0 rg BT 450.34 713.90 Td (unusual ) Tj ET Q q 0 0 0 rg BT 476.96 713.90 Td (or ) Tj ET Q q 0 0 0 rg BT 485.36 713.90 Td (infrequent ) Tj ET Q q 0 0 0 rg BT 519.96 713.90 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Q q 0 0 0 rg BT 434.16 704.30 Td (our ) Tj ET Q q 0 0 0 rg BT 446.86 704.30 Td (segments ) Tj ET Q q 0 0 0 rg BT 478.66 704.30 Td (for ) Tj ET Q q 0 0 0 rg BT 490.02 704.30 Td (purposes ) Tj ET Q q 0 0 0 rg BT 520.50 704.30 Td (of ) Tj ET Q q 0 0 0 rg BT 529.19 704.30 Td (evaluating ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 694.70 Td (their ) Tj ET Q q 0 0 0 rg BT 66.16 694.70 Td (performance ) Tj ET Q q 0 0 0 rg BT 108.58 694.70 Td (and ) Tj ET Q q 0 0 0 rg BT 122.13 694.70 Td (therefore ) Tj ET Q q 0 0 0 rg BT 153.00 694.70 Td (are ) Tj ET Q q 0 0 0 rg BT 164.76 694.70 Td (not ) Tj ET Q q 0 0 0 rg BT 176.98 694.70 Td (included ) Tj ET Q q 0 0 0 rg BT 206.53 694.70 Td (in ) Tj ET Q q 0 0 0 rg BT 214.75 694.70 Td (their ) Tj ET Q q 0 0 0 rg BT 231.41 694.70 Td (OIBDA, ) Tj ET Q q 0 0 0 rg BT 260.75 694.70 Td (include ) Tj ET Q q 0 0 0 rg BT 286.29 694.70 Td (stock-based ) Tj ET Q q 0 0 0 rg BT 326.06 694.70 Td (compensation ) Tj ET Q q 0 0 0 rg BT 372.49 694.70 Td (and ) Tj ET Q 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Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 619.10 Td (Below ) Tj ET Q q 0 0 0 rg BT 72.04 619.10 Td (are ) Tj ET Q q 0 0 0 rg BT 83.46 619.10 Td (tables ) Tj ET Q q 0 0 0 rg BT 103.77 619.10 Td (showing ) Tj ET Q q 0 0 0 rg BT 132.54 619.10 Td (selected ) Tj ET Q q 0 0 0 rg BT 159.95 619.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 189.59 619.10 Td (statement ) Tj ET Q q 0 0 0 rg BT 221.90 619.10 Td (information ) Tj ET Q q 0 0 0 rg BT 261.32 619.10 Td (by ) Tj ET Q q 0 0 0 rg BT 270.98 619.10 Td (segment ) Tj ET Q q 0 0 0 rg BT 299.29 619.10 Td (for ) Tj ET Q q 0 0 0 rg BT 310.27 619.10 Td (the ) Tj ET Q q 0 0 0 rg BT 321.70 619.10 Td (years ) Tj ET Q q 0 0 0 rg BT 340.23 619.10 Td (ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 360.99 619.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 407.51 619.10 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.51 619.10 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.16 619.10 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.16 619.10 Td ( ) Tj ET Q q 0 0 0 rg BT 444.81 619.10 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.02 619.10 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.02 619.10 Td ( ) Tj ET Q q 0 0 0 rg BT 475.67 619.10 Td (for ) Tj ET Q q 0 0 0 rg BT 486.65 619.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 528.74 619.10 Td (statements ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 609.50 Td (of ) Tj ET Q q 0 0 0 rg BT 58.16 609.50 Td (operations ) Tj ET Q q 0 0 0 rg BT 93.49 609.50 Td (and ) Tj ET Q q 0 0 0 rg BT 107.04 609.50 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 157.46 609.50 Td (income ) Tj ET Q q 0 0 0 rg BT 183.01 609.50 Td (data ) Tj ET Q q 0 0 0 rg BT 198.34 609.50 Td (and ) Tj ET Q q 0 0 0 rg BT 211.89 609.50 Td (as ) Tj ET Q q 0 0 0 rg BT 220.55 609.50 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 228.32 609.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 275.19 609.50 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.19 609.50 Td ( ) Tj ET Q q 0 0 0 rg BT 293.19 609.50 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.74 609.50 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.74 609.50 Td ( ) Tj ET Q q 0 0 0 rg BT 324.74 609.50 Td (for ) Tj ET Q q 0 0 0 rg BT 336.07 609.50 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 378.50 609.50 Td (balance ) Tj ET Q q 0 0 0 rg BT 404.93 609.50 Td (sheet ) Tj ET Q q 0 0 0 rg BT 423.37 609.50 Td (data:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 572.00 324.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 572.00 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 572.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 572.00 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 572.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 572.00 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 542.00 324.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 542.00 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 542.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 542.00 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 542.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 542.00 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 512.00 324.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 512.00 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 512.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 512.00 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 512.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 512.00 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 482.00 324.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 482.00 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 482.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 482.00 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 482.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 482.00 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 374 586 m 434 586 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 434 586 m 438 586 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 438 586 m 498 586 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498 586 m 502 586 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502 586 m 562 586 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 374 572 m 434 572 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 438 572 m 498 572 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502 586 m 562 586 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502 572 m 562 572 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502 572 m 562 572 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 467 m 562 467 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 467 m 434 467 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 454 m 434 454 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 452 m 434 452 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 467 m 498 467 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 454 m 498 454 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 452 m 498 452 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 467 m 562 467 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 454 m 562 454 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 452 m 562 452 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 590.23 Td (Net revenues:) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.25 590.23 Td (For The Year Ending December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.50 576.23 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.50 576.23 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 542.50 576.23 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 561.25 Td (Bulgaria) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.50 561.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.80 561.25 Td (87,078) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.50 561.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.80 561.25 Td (87,448) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 504.50 561.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 561.25 Td (85,241) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 546.25 Td (Croatia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.80 546.25 Td (62,026) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.80 546.25 Td (61,864) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 546.25 Td (59,299) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 531.25 Td (Czech ) Tj ET Q q 0 0 0 rg BT 74.49 531.25 Td (Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.80 531.25 Td (202,779) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.80 531.25 Td (174,939) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 531.25 Td (252,161) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 516.25 Td (Romania) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.80 516.25 Td (178,614) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.80 516.25 Td (162,305) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 516.25 Td (153,137) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 501.25 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 76.72 501.25 Td (Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.80 501.25 Td (90,556) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.80 501.25 Td (82,404) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 501.25 Td (96,174) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 486.25 Td (Slovenia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.80 486.25 Td (61,370) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.80 486.25 Td (66,656) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 486.25 Td (68,895) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 471.25 Td (Intersegment revenues ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 126.69 474.88 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.10 471.25 Td (\(1,630) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.80 471.25 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.10 471.25 Td (\(2,482) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.80 471.25 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.10 471.25 Td (\(8,908) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 471.25 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 457.23 Td (Total net revenues) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.50 457.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 404.80 457.23 Td (680,793) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.50 457.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.80 457.23 Td (633,134) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 504.50 457.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.80 457.23 Td (705,999) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 440.90 Td (\(1\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 440.90 Td (Reflects ) Tj ET Q q 0 0 0 rg BT 95.71 440.90 Td (revenues ) Tj ET Q q 0 0 0 rg BT 126.14 440.90 Td (earned ) Tj ET Q q 0 0 0 rg BT 149.46 440.90 Td (from ) Tj ET Q q 0 0 0 rg BT 167.01 440.90 Td (the ) Tj ET Q q 0 0 0 rg BT 178.78 440.90 Td (sale ) Tj ET Q q 0 0 0 rg BT 193.22 440.90 Td (of ) Tj ET Q q 0 0 0 rg BT 201.88 440.90 Td (content ) Tj ET Q q 0 0 0 rg BT 227.43 440.90 Td (to ) Tj ET Q q 0 0 0 rg BT 235.65 440.90 Td (other ) Tj ET Q q 0 0 0 rg BT 254.09 440.90 Td (country ) Tj ET Q q 0 0 0 rg BT 280.53 440.90 Td (segments ) Tj ET Q q 0 0 0 rg BT 312.30 440.90 Td (in ) Tj ET Q q 0 0 0 rg BT 320.52 440.90 Td (CME.) Tj ET Q q 0 0 0 rg BT 341.42 440.90 Td (All ) Tj ET Q q 0 0 0 rg BT 353.64 440.90 Td (other ) Tj ET Q q 0 0 0 rg BT 372.08 440.90 Td (revenues ) Tj ET Q q 0 0 0 rg BT 402.51 440.90 Td (are ) Tj ET Q q 0 0 0 rg BT 414.27 440.90 Td (third ) Tj ET Q q 0 0 0 rg BT 431.38 440.90 Td (party ) Tj ET Q q 0 0 0 rg BT 449.82 440.90 Td (revenues.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 404.40 324.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 404.40 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 404.40 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 404.40 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 404.40 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 404.40 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 376.40 324.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 376.40 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 376.40 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 376.40 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 376.40 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 376.40 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 348.40 324.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 348.40 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 348.40 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 348.40 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 348.40 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 348.40 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 320.40 324.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 320.40 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 320.40 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 320.40 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 320.40 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 320.40 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 292.40 324.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 292.40 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 292.40 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 292.40 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 292.40 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 292.40 60.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 374 417.4 m 434 417.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 434 417.4 m 438 417.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 438 417.4 m 498 417.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498 417.4 m 502 417.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502 417.4 m 562 417.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 374 404.4 m 434 404.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 438 404.4 m 498 404.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502 417.4 m 562 417.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502 404.4 m 562 404.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502 404.4 m 562 404.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 306.4 m 562 306.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 306.4 m 434 306.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 306.4 m 498 306.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 306.4 m 562 306.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 278.4 m 562 278.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 278.4 m 434 278.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 266.4 m 434 266.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 264.4 m 434 264.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 278.4 m 498 278.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 266.4 m 498 266.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 264.4 m 498 264.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 278.4 m 562 278.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 266.4 m 562 266.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 264.4 m 562 264.4 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 421.63 Td (OIBDA:) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.25 421.63 Td (For The Year Ending December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.50 408.63 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.50 408.63 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 542.50 408.63 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 394.65 Td (Bulgaria) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.50 394.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.80 394.65 Td (9,367) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.50 394.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.80 394.65 Td (13,391) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 504.50 394.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 394.65 Td (13,121) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 380.65 Td (Croatia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.80 380.65 Td (7,835) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.80 380.65 Td (8,258) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 380.65 Td (7,924) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 366.65 Td (Czech ) Tj ET Q q 0 0 0 rg BT 74.49 366.65 Td (Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.80 366.65 Td (61,964) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.10 366.65 Td (\(9,604) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.80 366.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 366.65 Td (103,996) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 352.65 Td (Romania) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.80 352.65 Td (37,259) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.80 352.65 Td (2,454) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 352.65 Td (15,404) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 338.65 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 76.72 338.65 Td (Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.80 338.65 Td (4,586) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 470.10 338.65 Td (\(19,859) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.80 338.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 338.65 Td (8,604) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 324.65 Td (Slovenia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.80 324.65 Td (5,331) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.80 324.65 Td (9,254) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 324.65 Td (14,933) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 310.65 Td (Elimination) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.10 310.65 Td (\(16) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.80 310.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.10 310.65 Td (\(46) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.80 310.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.10 310.65 Td (\(1,073) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 310.65 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 296.63 Td (Total operating segments) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 404.80 296.63 Td (126,326) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.80 296.63 Td (3,848) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.80 296.63 Td (162,909) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 282.65 Td (Corporate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.10 282.65 Td (\(30,880) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.80 282.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 470.10 282.65 Td (\(52,253) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.80 282.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 282.65 Td (\(42,282) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 282.65 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 269.63 Td (Total OIBDA) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.50 269.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.80 269.63 Td (95,446) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.50 269.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.10 269.63 Td (\(48,405) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.80 269.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.80 269.63 Td (120,627) Tj ET Q BT /F1 8.00 Tf ET endstream endobj 161 0 obj <>] /Rotate 0 /Contents 162 0 R>> endobj 162 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (78) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 701.50 324.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 701.50 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 701.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 701.50 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 701.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 701.50 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 672.50 324.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 672.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 672.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 672.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 672.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 672.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 642.50 324.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 642.50 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 642.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 642.50 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 642.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 642.50 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 614.50 324.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 614.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 614.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 614.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 614.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 614.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 584.50 324.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 584.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 584.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 584.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 584.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 584.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 554.50 324.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 554.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 554.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 554.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 554.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 554.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 524.50 324.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 524.50 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 524.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 524.50 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 524.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 524.50 60.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 374 715.5 m 434 715.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 374 701.5 m 434 701.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 434 715.5 m 438 715.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 438 715.5 m 498 715.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 438 701.5 m 498 701.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498 715.5 m 502 715.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502 715.5 m 562 715.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502 701.5 m 562 701.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502 701.5 m 562 701.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 628.5 m 434 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 628.5 m 498 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 628.5 m 562 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 628.5 m 434 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 628.5 m 498 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 628.5 m 562 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 524.5 m 434 524.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 511.5 m 434 511.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 509.5 m 434 509.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 524.5 m 498 524.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 511.5 m 498 511.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 509.5 m 498 509.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 524.5 m 562 524.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 511.5 m 562 511.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 509.5 m 562 509.5 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 719.73 Td (Reconciliation to consolidated statements of operations and comprehensive income:) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.25 719.73 Td (For The Year Ending December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.50 705.73 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.50 705.73 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 542.50 705.73 Td (2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 691.73 Td (T) Tj ET Q q 0 0 0 rg BT 57.47 691.73 Td (otal ) Tj ET Q q 0 0 0 rg BT 71.99 691.73 Td (OIBDA:) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.50 691.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.80 691.73 Td (95,446) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.50 691.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.10 691.73 Td (\(48,405) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.80 691.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 504.50 691.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.80 691.73 Td (120,627) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 676.75 Td (Depreciation ) Tj ET Q q 0 0 0 rg BT 95.81 676.75 Td (of ) Tj ET Q q 0 0 0 rg BT 104.48 676.75 Td (property) Tj ET Q q 0 0 0 rg BT 131.32 676.75 Td (, ) Tj ET Q q 0 0 0 rg BT 135.06 676.75 Td (plant ) Tj ET Q q 0 0 0 rg BT 153.05 676.75 Td (and ) Tj ET Q q 0 0 0 rg BT 166.61 676.75 Td (equipment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.10 676.75 Td (\(32,836) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.80 676.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 470.10 676.75 Td (\(37,175) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.80 676.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 676.75 Td (\(41,506) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 676.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 661.75 Td (Amortization ) Tj ET Q q 0 0 0 rg BT 97.16 661.75 Td (of ) Tj ET Q q 0 0 0 rg BT 105.82 661.75 Td (intangible ) Tj ET Q q 0 0 0 rg BT 139.81 661.75 Td (assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.10 661.75 Td (\(12,348) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.80 661.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 470.10 661.75 Td (\(14,761) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.80 661.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 661.75 Td (\(42,707) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 661.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 646.75 Td (Impairment ) Tj ET Q q 0 0 0 rg BT 91.82 646.75 Td (char) Tj ET Q q 0 0 0 rg BT 105.51 646.75 Td (ge) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.80 646.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 470.10 646.75 Td (\(79,676) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.80 646.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.10 646.75 Td (\(516,203) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 646.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 632.75 Td (Other ) Tj ET Q q 0 0 0 rg BT 72.71 632.75 Td (items ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 92.05 636.38 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.10 632.75 Td (\(11,982) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.80 632.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.80 632.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 632.75 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 618.73 Td (Operating ) Tj ET Q q 0 0 0 rg BT 89.61 618.73 Td (income ) Tj ET Q q 0 0 0 rg BT 116.05 618.73 Td (/ ) Tj ET Q q 0 0 0 rg BT 120.27 618.73 Td (\(loss\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.80 618.73 Td (38,280) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.10 618.73 Td (\(180,017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.80 618.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 618.73 Td (\(479,789) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 618.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 603.75 Td (Interest ) Tj ET Q q 0 0 0 rg BT 78.49 603.75 Td (expense, ) Tj ET Q q 0 0 0 rg BT 108.25 603.75 Td (net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.10 603.75 Td (\(141,711) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.80 603.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.10 603.75 Td (\(111,213) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.80 603.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.10 603.75 Td (\(126,928) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 603.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 588.75 Td (Loss ) Tj ET Q q 0 0 0 rg BT 69.61 588.75 Td (on ) Tj ET Q q 0 0 0 rg BT 79.61 588.75 Td (extinguishment ) Tj ET Q q 0 0 0 rg BT 130.94 588.75 Td (of ) Tj ET Q q 0 0 0 rg BT 139.61 588.75 Td (debt) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.10 588.75 Td (\(39,203) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.80 588.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 470.10 588.75 Td (\(23,115) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.80 588.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.10 588.75 Td (\(198) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 588.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 573.75 Td (Foreign ) Tj ET Q q 0 0 0 rg BT 79.39 573.75 Td (currency ) Tj ET Q q 0 0 0 rg BT 109.37 573.75 Td (exchange ) Tj ET Q q 0 0 0 rg BT 141.57 573.75 Td (\(loss\) ) Tj ET Q q 0 0 0 rg BT 161.35 573.75 Td (/ ) Tj ET Q q 0 0 0 rg BT 165.57 573.75 Td (gain, ) Tj ET Q q 0 0 0 rg BT 183.34 573.75 Td (net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.10 573.75 Td (\(12,767) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.80 573.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.80 573.75 Td (20,187) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 573.75 Td (6,386) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 558.75 Td (Change ) Tj ET Q q 0 0 0 rg BT 78.94 558.75 Td (in ) Tj ET Q q 0 0 0 rg BT 87.16 558.75 Td (fair ) Tj ET Q q 0 0 0 rg BT 100.26 558.75 Td (value ) Tj ET Q q 0 0 0 rg BT 119.59 558.75 Td (of ) Tj ET Q q 0 0 0 rg BT 128.25 558.75 Td (derivatives) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.80 558.75 Td (2,311) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.80 558.75 Td (104) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 558.75 Td (49,027) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 543.75 Td (Other ) Tj ET Q q 0 0 0 rg BT 72.71 543.75 Td (income ) Tj ET Q q 0 0 0 rg BT 98.26 543.75 Td (/ ) Tj ET Q q 0 0 0 rg BT 102.48 543.75 Td (\(expense\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.80 543.75 Td (267) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.10 543.75 Td (\(373) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.80 543.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 543.75 Td (1,043) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 528.75 Td (Credit ) Tj ET Q q 0 0 0 rg BT 74.50 528.75 Td (for ) Tj ET Q q 0 0 0 rg BT 85.82 528.75 Td (income ) Tj ET Q q 0 0 0 rg BT 111.37 528.75 Td (taxes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.80 528.75 Td (1,358) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.80 528.75 Td (17,993) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 528.75 Td (14,751) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 514.73 Td (Net ) Tj ET Q q 0 0 0 rg BT 66.49 514.73 Td (loss ) Tj ET Q q 0 0 0 rg BT 80.94 514.73 Td (fr) Tj ET Q q 0 0 0 rg BT 87.01 514.73 Td (om ) Tj ET Q q 0 0 0 rg BT 99.68 514.73 Td (continuing ) Tj ET Q q 0 0 0 rg BT 138.13 514.73 Td (operations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.50 514.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.10 514.73 Td (\(151,465) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 430.80 514.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.50 514.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.10 514.73 Td (\(276,434) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.80 514.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 504.50 514.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 514.73 Td (\(535,708) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 514.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 498.40 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 67.50 498.40 Td (Other ) Tj ET Q q 0 0 0 rg BT 88.53 498.40 Td (items ) Tj ET Q q 0 0 0 rg BT 108.67 498.40 Td (for ) Tj ET Q q 0 0 0 rg BT 120.81 498.40 Td (the ) Tj ET Q q 0 0 0 rg BT 133.39 498.40 Td (year ) Tj ET Q q 0 0 0 rg BT 149.97 498.40 Td (ended ) Tj ET Q q 0 0 0 rg BT 171.88 498.40 Td (December ) Tj ET Q q 0 0 0 rg BT 207.56 498.40 Td (31, ) Tj ET Q q 0 0 0 rg BT 220.37 498.40 Td (2014 ) Tj ET Q q 0 0 0 rg BT 239.18 498.40 Td (consists ) Tj ET Q q 0 0 0 rg BT 267.32 498.40 Td (solely ) Tj ET Q q 0 0 0 rg BT 289.24 498.40 Td (of ) Tj ET Q q 0 0 0 rg BT 298.72 498.40 Td (an ) Tj ET Q q 0 0 0 rg BT 309.08 498.40 Td (accrual ) Tj ET Q q 0 0 0 rg BT 334.98 498.40 Td (related ) Tj ET Q q 0 0 0 rg BT 359.55 498.40 Td (to ) Tj ET Q q 0 0 0 rg BT 368.59 498.40 Td (tax ) Tj ET Q q 0 0 0 rg BT 381.17 498.40 Td (audits ) Tj ET Q q 0 0 0 rg BT 403.09 498.40 Td (of ) Tj ET Q q 0 0 0 rg BT 412.56 498.40 Td (certain ) Tj ET Q q 0 0 0 rg BT 437.14 498.40 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 477.72 498.40 Td (in ) Tj ET Q q 0 0 0 rg BT 486.75 498.40 Td (Romania ) Tj ET Q q 0 0 0 rg BT 518.45 498.40 Td (\(see ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.14 498.40 Td (Note ) Tj ET Q q 0 0 0 rg BT 552.50 498.40 Td (21, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 488.80 Td ("Commitments ) Tj ET Q q 0 0 0 rg BT 118.10 488.80 Td (and ) Tj ET Q q 0 0 0 rg BT 131.65 488.80 Td (Contingencies") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 180.69 488.80 Td (\).) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 463.30 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 463.30 89.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 463.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 463.30 89.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 433.30 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 433.30 89.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 433.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 433.30 89.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 403.30 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 403.30 89.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 403.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 403.30 89.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 373.30 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 373.30 89.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 373.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 373.30 89.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 343.30 330.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 343.30 89.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 343.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 343.30 89.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 463.3 m 468.5 463.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 463.3 m 561.5 463.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 463.3 m 468.5 463.3 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 463.3 m 561.5 463.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 373.3 m 468.5 373.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 373.3 m 561.5 373.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 328.3 m 468.5 328.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 314.3 m 468.5 314.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 312.3 m 468.5 312.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 328.3 m 561.5 328.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 314.3 m 561.5 314.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 312.3 m 561.5 312.3 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 467.53 Td (T) Tj ET Q q 0 0 0 rg BT 56.60 467.53 Td (otal assets ) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 93.04 471.16 Td (\(1\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 99.11 467.53 Td (:) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 400.50 467.53 Td (December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 493.50 467.53 Td (December 31, 2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 452.55 Td (Bulgaria) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.00 452.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.30 452.55 Td (141,055) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.00 452.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 452.55 Td (172,189) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 437.55 Td (Croatia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.30 437.55 Td (58,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 437.55 Td (72,301) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 422.55 Td (Czech Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.30 422.55 Td (803,361) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 422.55 Td (920,630) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 407.55 Td (Romania) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.30 407.55 Td (297,256) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 407.55 Td (358,535) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 392.55 Td (Slovak Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.30 392.55 Td (134,544) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 392.55 Td (150,562) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 377.55 Td (Slovenia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.30 377.55 Td (78,403) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 377.55 Td (99,619) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 362.53 Td (Total operating segments) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 433.30 362.53 Td (1,512,619) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.30 362.53 Td (1,773,836) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 347.55 Td (Corporate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.30 347.55 Td (76,875) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 347.55 Td (71,035) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 332.55 Td (Assets held for sale) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.30 332.55 Td (29,866) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 332.55 Td (117,002) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 317.53 Td (Total assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.00 317.53 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 433.30 317.53 Td (1,619,360) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.00 317.53 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.30 317.53 Td (1,961,873) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 301.20 Td (\(1\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 301.20 Td (Segment ) Tj ET Q q 0 0 0 rg BT 97.50 301.20 Td (assets ) Tj ET Q q 0 0 0 rg BT 118.16 301.20 Td (exclude ) Tj ET Q q 0 0 0 rg BT 145.04 301.20 Td (any ) Tj ET Q q 0 0 0 rg BT 158.59 301.20 Td (intercompany ) Tj ET Q q 0 0 0 rg BT 204.57 301.20 Td (balances.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 264.70 324.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.50 264.70 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 264.70 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 264.70 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 264.70 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 264.70 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 238.70 324.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.50 238.70 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 238.70 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 238.70 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 238.70 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 238.70 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 212.70 324.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.50 212.70 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 212.70 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 212.70 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 212.70 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 212.70 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 186.70 324.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.50 186.70 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 186.70 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 186.70 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 186.70 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 186.70 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 160.70 324.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.50 160.70 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 160.70 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 160.70 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 160.70 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 160.70 60.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 277.70000000000005 m 433.5 277.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 277.70000000000005 m 437.5 277.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 277.70000000000005 m 497.5 277.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 277.70000000000005 m 501.5 277.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 277.70000000000005 m 561.5 277.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 277.70000000000005 m 433.5 277.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 264.70000000000005 m 433.5 264.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 277.70000000000005 m 497.5 277.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 264.70000000000005 m 497.5 264.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 277.70000000000005 m 561.5 277.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 264.70000000000005 m 561.5 264.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 264.70000000000005 m 433.5 264.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 264.70000000000005 m 497.5 264.70000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 264.70000000000005 m 561.5 264.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 186.70000000000005 m 433.5 186.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 186.70000000000005 m 497.5 186.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 186.70000000000005 m 561.5 186.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 160.70000000000005 m 433.5 160.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 160.70000000000005 m 497.5 160.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 160.70000000000005 m 561.5 160.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 160.70000000000005 m 433.5 160.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 148.70000000000005 m 433.5 148.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 146.70000000000005 m 433.5 146.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 160.70000000000005 m 497.5 160.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 148.70000000000005 m 497.5 148.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 146.70000000000005 m 497.5 146.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 160.70000000000005 m 561.5 160.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 148.70000000000005 m 561.5 148.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 146.70000000000005 m 561.5 146.70000000000005 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 281.93 Td (Capital Expenditures:) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 406.75 281.93 Td (For The Year Ending December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.00 268.93 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.00 268.93 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 542.00 268.93 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 255.95 Td (Bulgaria) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.00 255.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.30 255.95 Td (2,627) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.00 255.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.30 255.95 Td (2,798) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 504.00 255.95 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 255.95 Td (4,413) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 242.95 Td (Croatia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.30 242.95 Td (2,701) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.30 242.95 Td (2,574) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 242.95 Td (3,109) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 229.95 Td (Czech ) Tj ET Q q 0 0 0 rg BT 73.99 229.95 Td (Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.30 229.95 Td (9,139) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.30 229.95 Td (7,727) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 229.95 Td (8,118) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 216.95 Td (Romania) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.30 216.95 Td (4,686) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.30 216.95 Td (5,194) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 216.95 Td (6,039) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 203.95 Td (Slovak ) Tj ET Q q 0 0 0 rg BT 76.22 203.95 Td (Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.30 203.95 Td (2,240) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.30 203.95 Td (1,590) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 203.95 Td (1,990) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 190.95 Td (Slovenia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.30 190.95 Td (3,502) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.30 190.95 Td (4,018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 190.95 Td (4,638) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 177.93 Td (Total operating segments) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.30 177.93 Td (24,895) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.30 177.93 Td (23,901) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.30 177.93 Td (28,307) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 164.95 Td (Corporate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.30 164.95 Td (3,790) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.30 164.95 Td (6,217) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 164.95 Td (3,020) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 151.93 Td (Total capital expenditures) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.00 151.93 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.30 151.93 Td (28,685) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.00 151.93 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.30 151.93 Td (30,118) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 504.00 151.93 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.30 151.93 Td (31,327) Tj ET Q BT /F1 8.00 Tf ET endstream endobj 163 0 obj <>] /Rotate 0 /Contents 164 0 R>> endobj 164 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (79) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 723.50 Td (Long-lived assets by geography are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 700.00 330.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 700.00 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 700.00 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 700.00 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 674.00 330.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 674.00 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 674.00 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 674.00 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 648.00 330.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 648.00 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 648.00 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 648.00 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 622.00 330.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 622.00 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 622.00 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 622.00 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 596.00 330.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 596.00 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 596.00 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 596.00 89.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 700 m 468.5 700 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 700 m 561.5 700 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 622 m 468.5 622 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 622 m 561.5 622 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 596 m 468.5 596 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 584 m 468.5 584 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 582 m 468.5 582 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 596 m 561.5 596 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 584 m 561.5 584 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 582 m 561.5 582 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 704.23 Td (Long-lived assets ) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 112.45 707.86 Td (\(1\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 118.51 704.23 Td (:) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 400.50 704.23 Td (December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 493.50 704.23 Td (December 31, 2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 691.25 Td (Bulgaria) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.00 691.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.30 691.25 Td (4,187) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.00 691.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 691.25 Td (13,742) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 678.25 Td (Croatia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.30 678.25 Td (5,579) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 678.25 Td (6,234) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 665.25 Td (Czech Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.30 665.25 Td (40,940) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 665.25 Td (47,683) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 652.25 Td (Romania) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.30 652.25 Td (22,110) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 652.25 Td (25,726) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 639.25 Td (Slovak Republic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.30 639.25 Td (17,374) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 639.25 Td (20,299) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 626.25 Td (Slovenia) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.30 626.25 Td (16,647) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 626.25 Td (20,226) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 613.23 Td (Total operating segments) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 439.30 613.23 Td (106,837) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.30 613.23 Td (133,910) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 600.25 Td (Corporate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.30 600.25 Td (7,498) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 600.25 Td (8,997) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 587.23 Td (Total long-lived assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.00 587.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 439.30 587.23 Td (114,335) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.00 587.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.30 587.23 Td (142,907) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 570.90 Td (\(1\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 570.90 Td (Reflects ) Tj ET Q q 0 0 0 rg BT 95.71 570.90 Td (property) Tj ET Q q 0 0 0 rg BT 122.29 570.90 Td (, ) Tj ET Q q 0 0 0 rg BT 126.29 570.90 Td (plant ) Tj ET Q q 0 0 0 rg BT 144.29 570.90 Td (and ) Tj ET Q q 0 0 0 rg BT 157.84 570.90 Td (equipment.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 534.40 324.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.50 534.40 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 534.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 534.40 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 534.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 534.40 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 508.40 324.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.50 508.40 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 508.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 508.40 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 508.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 508.40 60.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 547.4 m 433.5 547.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 547.4 m 437.5 547.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 547.4 m 497.5 547.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 547.4 m 501.5 547.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 547.4 m 561.5 547.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 547.4 m 433.5 547.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 534.4 m 433.5 534.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 547.4 m 497.5 547.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 534.4 m 497.5 534.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 547.4 m 561.5 547.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 534.4 m 561.5 534.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 534.4 m 433.5 534.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 534.4 m 561.5 534.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 495.4 m 433.5 495.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 495.4 m 561.5 495.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 495.4 m 433.5 495.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 483.4 m 433.5 483.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 481.4 m 433.5 481.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 495.4 m 497.5 495.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 483.4 m 497.5 483.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 481.4 m 497.5 481.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 495.4 m 561.5 495.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 483.4 m 561.5 483.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 481.4 m 561.5 481.4 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 551.63 Td (Revenue by type:) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 406.75 551.63 Td (For The Year Ending December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.00 538.63 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.00 538.63 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 542.00 538.63 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 525.65 Td (Television advertising) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.00 525.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.30 525.65 Td (565,601) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.00 525.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.30 525.65 Td (528,778) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 504.00 525.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 525.65 Td (616,233) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 512.65 Td (Carriage fees and subscriptions) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.30 512.65 Td (80,487) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.30 512.65 Td (58,990) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 512.65 Td (43,357) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 499.65 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.30 499.65 Td (34,705) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.30 499.65 Td (45,366) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 499.65 Td (46,409) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 486.63 Td (Total net revenues) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.00 486.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 404.30 486.63 Td (680,793) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.00 486.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.30 486.63 Td (633,134) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 504.00 486.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.30 486.63 Td (705,999) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 467.30 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 467.30 Td (e ) Tj ET Q q 0 0 0 rg BT 61.96 467.30 Td (do ) Tj ET Q q 0 0 0 rg BT 71.96 467.30 Td (not ) Tj ET Q q 0 0 0 rg BT 84.18 467.30 Td (rely ) Tj ET Q q 0 0 0 rg BT 98.62 467.30 Td (on ) Tj ET Q q 0 0 0 rg BT 108.62 467.30 Td (any ) Tj ET Q q 0 0 0 rg BT 122.17 467.30 Td (single ) Tj ET Q q 0 0 0 rg BT 143.28 467.30 Td (major ) Tj ET Q q 0 0 0 rg BT 163.94 467.30 Td (customer ) Tj ET Q q 0 0 0 rg BT 195.27 467.30 Td (or ) Tj ET Q q 0 0 0 rg BT 203.93 467.30 Td (group ) Tj ET Q q 0 0 0 rg BT 224.59 467.30 Td (of ) Tj ET Q q 0 0 0 rg BT 233.26 467.30 Td (major ) Tj ET Q q 0 0 0 rg BT 253.92 467.30 Td (customers.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 445.70 Td (21. ) Tj ET Q q 0 0 0 rg BT 67.50 445.70 Td (COMMITMENTS ) Tj ET Q q 0 0 0 rg BT 133.06 445.70 Td (AND ) Tj ET Q q 0 0 0 rg BT 152.39 445.70 Td (CONTINGENCIES) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 430.10 Td (Commitments) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 414.50 Td (a\) ) Tj ET Q q 0 0 0 rg BT 58.50 414.50 Td (Pr) Tj ET Q q 0 0 0 rg BT 66.20 414.50 Td (ogramming ) Tj ET Q q 0 0 0 rg BT 105.09 414.50 Td (Rights ) Tj ET Q q 0 0 0 rg BT 127.39 414.50 Td (Agr) Tj ET Q q 0 0 0 rg BT 139.10 414.50 Td (eements ) Tj ET Q q 0 0 0 rg BT 166.86 414.50 Td (and ) Tj ET Q q 0 0 0 rg BT 180.86 414.50 Td (Other ) Tj ET Q q 0 0 0 rg BT 201.53 414.50 Td (Commitments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 398.90 Td (At ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.75 398.90 Td (December31, ) Tj ET Q q 0 0 0 rg BT 106.87 398.90 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 122.87 398.90 Td (, ) Tj ET Q q 0 0 0 rg BT 127.13 398.90 Td (we ) Tj ET Q q 0 0 0 rg BT 138.71 398.90 Td (had ) Tj ET Q q 0 0 0 rg BT 152.51 398.90 Td (total ) Tj ET Q q 0 0 0 rg BT 168.98 398.90 Td (commitments ) Tj ET Q q 0 0 0 rg BT 214.79 398.90 Td (of ) Tj ET Q q 0 0 0 rg BT 223.70 398.90 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 240.18 398.90 Td (177.8 ) Tj ET Q q 0 0 0 rg BT 260.44 398.90 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 283.55 398.90 Td ( ) Tj ET Q q 0 0 0 rg BT 285.80 398.90 Td (\() Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.47 398.90 Td (December31, ) Tj ET Q q 0 0 0 rg BT 335.59 398.90 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.59 398.90 Td (: ) Tj ET Q q 0 0 0 rg BT 356.06 398.90 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.54 398.90 Td (239.3 ) Tj ET Q q 0 0 0 rg BT 392.79 398.90 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.91 398.90 Td (\) ) Tj ET Q q 0 0 0 rg BT 420.82 398.90 Td (in ) Tj ET Q q 0 0 0 rg BT 429.30 398.90 Td (respect ) Tj ET Q q 0 0 0 rg BT 454.21 398.90 Td (of ) Tj ET Q q 0 0 0 rg BT 463.12 398.90 Td (future ) Tj ET Q q 0 0 0 rg BT 484.48 398.90 Td (programming, ) Tj ET Q q 0 0 0 rg BT 532.28 398.90 Td (including ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 389.30 Td (contracts ) Tj ET Q q 0 0 0 rg BT 80.49 389.30 Td (signed ) Tj ET Q q 0 0 0 rg BT 103.50 389.30 Td (with ) Tj ET Q q 0 0 0 rg BT 119.84 389.30 Td (license ) Tj ET Q q 0 0 0 rg BT 144.17 389.30 Td (periods ) Tj ET Q q 0 0 0 rg BT 169.84 389.30 Td (starting ) Tj ET Q q 0 0 0 rg BT 195.95 389.30 Td (after ) Tj ET Q q 0 0 0 rg BT 212.72 389.30 Td (the ) Tj ET Q q 0 0 0 rg BT 224.61 389.30 Td (balance ) Tj ET Q q 0 0 0 rg BT 251.16 389.30 Td (sheet ) Tj ET Q q 0 0 0 rg BT 269.71 389.30 Td (date. ) Tj ET Q q 0 0 0 rg BT 287.16 389.30 Td (In ) Tj ET Q q 0 0 0 rg BT 295.94 389.30 Td (addition, ) Tj ET Q q 0 0 0 rg BT 326.27 389.30 Td (we ) Tj ET Q q 0 0 0 rg BT 337.72 389.30 Td (have ) Tj ET Q q 0 0 0 rg BT 354.94 389.30 Td (digital ) Tj ET Q q 0 0 0 rg BT 377.50 389.30 Td (transmission ) Tj ET Q q 0 0 0 rg BT 420.06 389.30 Td (obligations, ) Tj ET Q q 0 0 0 rg BT 459.74 389.30 Td (future ) Tj ET Q q 0 0 0 rg BT 480.96 389.30 Td (minimum ) Tj ET Q q 0 0 0 rg BT 514.19 389.30 Td (operating ) Tj ET Q q 0 0 0 rg BT 546.52 389.30 Td (lease ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 379.70 Td (payments ) Tj ET Q q 0 0 0 rg BT 81.88 379.70 Td (for ) Tj ET Q q 0 0 0 rg BT 92.93 379.70 Td (non-cancellable ) Tj ET Q q 0 0 0 rg BT 145.29 379.70 Td (operating ) Tj ET Q q 0 0 0 rg BT 177.22 379.70 Td (leases ) Tj ET Q q 0 0 0 rg BT 198.05 379.70 Td (with ) Tj ET Q q 0 0 0 rg BT 213.99 379.70 Td (remaining ) Tj ET Q q 0 0 0 rg BT 248.15 379.70 Td (terms ) Tj ET Q q 0 0 0 rg BT 267.64 379.70 Td (in ) Tj ET Q q 0 0 0 rg BT 275.58 379.70 Td (excess ) Tj ET Q q 0 0 0 rg BT 298.19 379.70 Td (of ) Tj ET Q q 0 0 0 rg BT 306.57 379.70 Td (one ) Tj ET Q q 0 0 0 rg BT 319.84 379.70 Td (year ) Tj ET Q q 0 0 0 rg BT 335.33 379.70 Td (\(net ) Tj ET Q q 0 0 0 rg BT 349.49 379.70 Td (of ) Tj ET Q q 0 0 0 rg BT 357.88 379.70 Td (amounts ) Tj ET Q q 0 0 0 rg BT 386.71 379.70 Td (to ) Tj ET Q q 0 0 0 rg BT 394.65 379.70 Td (be ) Tj ET Q q 0 0 0 rg BT 403.92 379.70 Td (rechar) Tj ET Q q 0 0 0 rg BT 423.76 379.70 Td (ged ) Tj ET Q q 0 0 0 rg BT 437.03 379.70 Td (to ) Tj ET Q q 0 0 0 rg BT 444.98 379.70 Td (third ) Tj ET Q q 0 0 0 rg BT 461.81 379.70 Td (parties\) ) Tj ET Q q 0 0 0 rg BT 487.52 379.70 Td (and ) Tj ET Q q 0 0 0 rg BT 500.79 379.70 Td (other ) Tj ET Q q 0 0 0 rg BT 518.95 379.70 Td (commitments ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 370.10 Td (as ) Tj ET Q q 0 0 0 rg BT 58.16 370.10 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 338.60 107.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 157.00 338.60 99.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 338.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 338.60 99.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 338.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 338.60 99.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 338.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 338.60 99.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 310.60 107.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 157.00 310.60 99.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 310.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 310.60 99.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 310.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 310.60 99.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 310.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 310.60 99.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 282.60 107.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 157.00 282.60 99.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 282.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 282.60 99.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 282.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 282.60 99.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 282.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 282.60 99.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 254.60 107.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 157.00 254.60 99.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 254.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 254.60 99.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 254.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 254.60 99.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 254.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 254.60 99.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 157 338.6 m 256 338.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260 338.6 m 359 338.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 363 338.6 m 462 338.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 466 338.6 m 565 338.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 157 338.6 m 256 338.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260 338.6 m 359 338.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 466 338.6 m 565 338.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 157 254.60000000000002 m 256 254.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 157 242.60000000000002 m 256 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 157 240.60000000000002 m 256 240.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260 254.60000000000002 m 359 254.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260 242.60000000000002 m 359 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260 240.60000000000002 m 359 240.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 254.60000000000002 m 462 254.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 242.60000000000002 m 462 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 240.60000000000002 m 462 240.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 254.60000000000002 m 565 254.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 242.60000000000002 m 565 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 240.60000000000002 m 565 240.60000000000002 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 342.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 171.65 350.83 Td (Programming purchase) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 215.15 342.83 Td (obligations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 286.80 350.83 Td (Digital transmission) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 318.15 342.83 Td (obligations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.80 342.83 Td (Operating leases) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.30 342.83 Td (Capital expenditures) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 328.85 Td (2015) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 159.50 328.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 230.80 328.85 Td (64,666) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 262.50 328.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.80 328.85 Td (22,416) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.50 328.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.80 328.85 Td (3,219) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.50 328.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 543.80 328.85 Td (3,987) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 314.85 Td (2016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 230.80 314.85 Td (62,963) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.80 314.85 Td (12,489) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.80 314.85 Td (1,473) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 553.80 314.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 300.85 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 230.80 300.85 Td (33,729) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.80 300.85 Td (4,081) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.80 300.85 Td (774) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 553.80 300.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 286.85 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 230.80 286.85 Td (13,768) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.80 286.85 Td (3,447) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.80 286.85 Td (345) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 553.80 286.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 272.85 Td (2019) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 240.80 272.85 Td (923) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.80 272.85 Td (10,513) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.80 272.85 Td (249) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 553.80 272.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 258.85 Td (2020 ) Tj ET Q q 0 0 0 rg BT 70.50 258.85 Td (and ) Tj ET Q q 0 0 0 rg BT 84.05 258.85 Td (thereafter) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 234.80 258.85 Td (1,767) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.80 258.85 Td (411) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.80 258.85 Td (1,130) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 553.80 258.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 245.83 Td (T) Tj ET Q q 0 0 0 rg BT 57.10 245.83 Td (otal) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 159.50 245.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 226.80 245.83 Td (177,816) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 262.50 245.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 333.80 245.83 Td (53,357) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.50 245.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.80 245.83 Td (7,190) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.50 245.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 543.80 245.83 Td (3,987) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 226.50 Td (For ) Tj ET Q q 0 0 0 rg BT 62.45 226.50 Td (the ) Tj ET Q q 0 0 0 rg BT 74.06 226.50 Td (years ) Tj ET Q q 0 0 0 rg BT 92.78 226.50 Td (ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 113.72 226.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 160.42 226.50 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 176.42 226.50 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 180.26 226.50 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 196.26 226.50 Td ( ) Tj ET Q q 0 0 0 rg BT 198.10 226.50 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 211.49 226.50 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 227.49 226.50 Td (, ) Tj ET Q q 0 0 0 rg BT 231.33 226.50 Td (we ) Tj ET Q q 0 0 0 rg BT 242.49 226.50 Td (incurred ) Tj ET Q q 0 0 0 rg BT 270.98 226.50 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 303.91 226.50 Td (rent ) Tj ET Q q 0 0 0 rg BT 318.19 226.50 Td (expense ) Tj ET Q q 0 0 0 rg BT 345.79 226.50 Td (on ) Tj ET Q q 0 0 0 rg BT 355.63 226.50 Td (all ) Tj ET Q q 0 0 0 rg BT 365.46 226.50 Td (facilities ) Tj ET Q q 0 0 0 rg BT 394.84 226.50 Td (of ) Tj ET Q q 0 0 0 rg BT 403.34 226.50 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 419.41 226.50 Td (10.0 ) Tj ET Q q 0 0 0 rg BT 435.25 226.50 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.36 226.50 Td (, ) Tj ET Q q 0 0 0 rg BT 462.20 226.50 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.26 226.50 Td (12.6 ) Tj ET Q q 0 0 0 rg BT 494.10 226.50 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 517.21 226.50 Td ( ) Tj ET Q q 0 0 0 rg BT 519.05 226.50 Td (and ) Tj ET Q q 0 0 0 rg BT 532.44 226.50 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 548.50 226.50 Td (13.7 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 216.90 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 72.61 216.90 Td (, ) Tj ET Q q 0 0 0 rg BT 76.61 216.90 Td (respectively) Tj ET Q q 0 0 0 rg BT 114.74 216.90 Td (.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 201.30 Td (b\) ) Tj ET Q q 0 0 0 rg BT 58.50 201.30 Td (Factoring of T) Tj ET Q q 0 0 0 rg BT 104.73 201.30 Td (rade Receivables) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 185.70 Td (CET) Tj ET Q q 0 0 0 rg BT 64.46 185.70 Td ( ) Tj ET Q q 0 0 0 rg BT 65.54 185.70 Td (21 ) Tj ET Q q 0 0 0 rg BT 74.61 185.70 Td (has ) Tj ET Q q 0 0 0 rg BT 86.34 185.70 Td (a ) Tj ET Q q 0 0 0 rg BT 90.96 185.70 Td (CZK ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 108.03 185.70 Td (910 ) Tj ET Q q 0 0 0 rg BT 121.10 185.70 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 144.21 185.70 Td ( ) Tj ET Q q 0 0 0 rg BT 145.29 185.70 Td (\(approximately ) Tj ET Q q 0 0 0 rg BT 195.23 185.70 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 210.52 185.70 Td (39.9 ) Tj ET Q q 0 0 0 rg BT 225.59 185.70 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 248.71 185.70 Td (\) ) Tj ET Q q 0 0 0 rg BT 252.44 185.70 Td (factoring ) Tj ET Q q 0 0 0 rg BT 282.39 185.70 Td (framework ) Tj ET Q q 0 0 0 rg BT 318.55 185.70 Td (agreement ) Tj ET Q q 0 0 0 rg BT 352.93 185.70 Td (with ) Tj ET Q q 0 0 0 rg BT 368.23 185.70 Td (FCS. ) Tj ET Q q 0 0 0 rg BT 385.53 185.70 Td (Under ) Tj ET Q q 0 0 0 rg BT 406.59 185.70 Td (this ) Tj ET Q q 0 0 0 rg BT 419.22 185.70 Td (facility ) Tj ET Q q 0 0 0 rg BT 442.95 185.70 Td (up ) Tj ET Q q 0 0 0 rg BT 452.02 185.70 Td (to ) Tj ET Q q 0 0 0 rg BT 459.31 185.70 Td (CZK ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.38 185.70 Td (910 ) Tj ET Q q 0 0 0 rg BT 489.45 185.70 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 512.57 185.70 Td ( ) Tj ET Q q 0 0 0 rg BT 513.64 185.70 Td (\(approximately ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 176.10 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.30 176.10 Td (39.9 ) Tj ET Q q 0 0 0 rg BT 80.87 176.10 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 103.98 176.10 Td (\) ) Tj ET Q q 0 0 0 rg BT 108.22 176.10 Td (may ) Tj ET Q q 0 0 0 rg BT 123.56 176.10 Td (be ) Tj ET Q q 0 0 0 rg BT 132.68 176.10 Td (factored ) Tj ET Q q 0 0 0 rg BT 160.46 176.10 Td (on ) Tj ET Q q 0 0 0 rg BT 170.03 176.10 Td (a ) Tj ET Q q 0 0 0 rg BT 175.15 176.10 Td (recourse ) Tj ET Q q 0 0 0 rg BT 203.82 176.10 Td (or ) Tj ET Q q 0 0 0 rg BT 212.05 176.10 Td (non-recourse ) Tj ET Q q 0 0 0 rg BT 255.38 176.10 Td (basis. ) Tj ET Q q 0 0 0 rg BT 274.61 176.10 Td (As ) Tj ET Q q 0 0 0 rg BT 285.07 176.10 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.41 176.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 338.85 176.10 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.85 176.10 Td (, ) Tj ET Q q 0 0 0 rg BT 358.42 176.10 Td (there ) Tj ET Q q 0 0 0 rg BT 375.98 176.10 Td (were ) Tj ET Q q 0 0 0 rg BT 393.10 176.10 Td (CZK ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.67 176.10 Td (509.3 ) Tj ET Q q 0 0 0 rg BT 430.24 176.10 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.35 176.10 Td ( ) Tj ET Q q 0 0 0 rg BT 454.92 176.10 Td (\(approximately ) Tj ET Q q 0 0 0 rg BT 505.37 176.10 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 521.16 176.10 Td (22.3 ) Tj ET Q q 0 0 0 rg BT 536.74 176.10 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.85 176.10 Td (\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 166.50 Td (\() Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.16 166.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 99.37 166.50 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 115.37 166.50 Td (: ) Tj ET Q q 0 0 0 rg BT 119.94 166.50 Td (CZK ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 138.28 166.50 Td (13.1 ) Tj ET Q q 0 0 0 rg BT 154.62 166.50 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 177.73 166.50 Td (, ) Tj ET Q q 0 0 0 rg BT 182.07 166.50 Td (approximately ) Tj ET Q q 0 0 0 rg BT 230.62 166.50 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 247.19 166.50 Td (0.6 ) Tj ET Q q 0 0 0 rg BT 259.53 166.50 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 282.64 166.50 Td ( ) Tj ET Q q 0 0 0 rg BT 284.98 166.50 Td (based ) Tj ET Q q 0 0 0 rg BT 305.54 166.50 Td (on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 315.88 166.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 363.09 166.50 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.09 166.50 Td ( ) Tj ET Q q 0 0 0 rg BT 381.43 166.50 Td (rates\), ) Tj ET Q q 0 0 0 rg BT 403.53 166.50 Td (of ) Tj ET Q q 0 0 0 rg BT 412.54 166.50 Td (receivables ) Tj ET Q q 0 0 0 rg BT 450.86 166.50 Td (subject ) Tj ET Q q 0 0 0 rg BT 475.86 166.50 Td (tothe ) Tj ET Q q 0 0 0 rg BT 496.19 166.50 Td (factoring ) Tj ET Q q 0 0 0 rg BT 527.41 166.50 Td (framework ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 156.90 Td (agreement.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 141.30 Td (c\) ) Tj ET Q q 0 0 0 rg BT 58.50 141.30 Td (Call ) Tj ET Q q 0 0 0 rg BT 74.28 141.30 Td (option) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 125.70 Td (T) Tj ET Q q 0 0 0 rg BT 53.83 125.70 Td (op ) Tj ET Q q 0 0 0 rg BT 64.13 125.70 Td (T) Tj ET Q q 0 0 0 rg BT 68.46 125.70 Td (one ) Tj ET Q q 0 0 0 rg BT 82.49 125.70 Td (Holdings ) Tj ET Q q 0 0 0 rg BT 114.31 125.70 Td (Limited ) Tj ET Q q 0 0 0 rg BT 142.11 125.70 Td (has ) Tj ET Q q 0 0 0 rg BT 155.26 125.70 Td (exercised ) Tj ET Q q 0 0 0 rg BT 187.94 125.70 Td (its ) Tj ET Q q 0 0 0 rg BT 197.98 125.70 Td (right ) Tj ET Q q 0 0 0 rg BT 215.57 125.70 Td (to ) Tj ET Q q 0 0 0 rg BT 224.27 125.70 Td (acquire ) Tj ET Q q 0 0 0 rg BT 250.29 125.70 Td (additional ) Tj ET Q q 0 0 0 rg BT 284.77 125.70 Td (equity ) Tj ET Q q 0 0 0 rg BT 307.24 125.70 Td (in ) Tj ET Q q 0 0 0 rg BT 315.95 125.70 Td (CME ) Tj ET Q q 0 0 0 rg BT 335.76 125.70 Td (Bulgaria, ) Tj ET Q q 0 0 0 rg BT 367.79 125.70 Td (however ) Tj ET Q q 0 0 0 rg BT 397.81 125.70 Td (the ) Tj ET Q q 0 0 0 rg BT 410.07 125.70 Td (closing ) Tj ET Q q 0 0 0 rg BT 435.66 125.70 Td (of ) Tj ET Q q 0 0 0 rg BT 444.80 125.70 Td (this ) Tj ET Q q 0 0 0 rg BT 458.84 125.70 Td (transaction ) Tj ET Q q 0 0 0 rg BT 496.42 125.70 Td (has ) Tj ET Q q 0 0 0 rg BT 509.56 125.70 Td (not ) Tj ET Q q 0 0 0 rg BT 522.27 125.70 Td (yet ) Tj ET Q q 0 0 0 rg BT 534.52 125.70 Td (occurred ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 116.10 Td (because ) Tj ET Q q 0 0 0 rg BT 76.82 116.10 Td (the ) Tj ET Q q 0 0 0 rg BT 88.59 116.10 Td (purchaser ) Tj ET Q q 0 0 0 rg BT 121.68 116.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 153.89 116.10 Td (is ) Tj ET Q q 0 0 0 rg BT 161.23 116.10 Td (still ) Tj ET Q q 0 0 0 rg BT 175.23 116.10 Td (pending. ) Tj ET Q q 0 0 0 rg BT 205.01 116.10 Td (If ) Tj ET Q q 0 0 0 rg BT 212.34 116.10 Td (consummated, ) Tj ET Q q 0 0 0 rg BT 260.77 116.10 Td (we ) Tj ET Q q 0 0 0 rg BT 272.10 116.10 Td (would ) Tj ET Q q 0 0 0 rg BT 294.10 116.10 Td (own ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 309.88 116.10 Td (90.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.54 116.10 Td ( ) Tj ET Q q 0 0 0 rg BT 332.54 116.10 Td (of ) Tj ET Q q 0 0 0 rg BT 341.20 116.10 Td (our ) Tj ET Q q 0 0 0 rg BT 353.87 116.10 Td (Bulgaria ) Tj ET Q q 0 0 0 rg BT 383.41 116.10 Td (operations.) Tj ET Q endstream endobj 165 0 obj <>] /Rotate 0 /Contents 166 0 R>> endobj 166 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (80) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 723.60 Td (Contingencies) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 708.00 Td (a\) ) Tj ET Q q 0 0 0 rg BT 58.50 708.00 Td (Litigation) Tj ET Q BT /F1 8.00 Tf 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rg BT 353.73 682.80 Td (and ) Tj ET Q q 0 0 0 rg BT 367.65 682.80 Td (provide ) Tj ET Q q 0 0 0 rg BT 394.45 682.80 Td (accruals ) Tj ET Q q 0 0 0 rg BT 423.02 682.80 Td (for ) Tj ET Q q 0 0 0 rg BT 434.72 682.80 Td (such ) Tj ET Q q 0 0 0 rg BT 451.75 682.80 Td (matters, ) Tj ET Q q 0 0 0 rg BT 479.66 682.80 Td (as ) Tj ET Q q 0 0 0 rg BT 488.69 682.80 Td (appropriate. ) Tj ET Q q 0 0 0 rg BT 529.49 682.80 Td (In ) Tj ET Q q 0 0 0 rg BT 538.52 682.80 Td (making ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 673.20 Td (such ) Tj ET Q q 0 0 0 rg BT 65.42 673.20 Td (decisions, ) Tj ET Q q 0 0 0 rg BT 98.45 673.20 Td (we ) Tj ET Q q 0 0 0 rg BT 109.03 673.20 Td (consider ) Tj ET Q q 0 0 0 rg BT 137.39 673.20 Td (the ) Tj ET Q q 0 0 0 rg BT 148.42 673.20 Td (degree ) Tj ET Q q 0 0 0 rg BT 170.99 673.20 Td (of ) Tj ET Q q 0 0 0 rg BT 178.91 673.20 Td (probability ) Tj ET Q q 0 0 0 rg BT 215.27 673.20 Td (of ) Tj ET Q q 0 0 0 rg BT 223.19 673.20 Td (an ) Tj ET Q q 0 0 0 rg BT 232.00 673.20 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Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 648.00 Td (Slovenian ) Tj ET Q q 0 0 0 rg BT 83.05 648.00 Td (Competition ) Tj ET Q q 0 0 0 rg BT 124.60 648.00 Td (Pr) Tj ET Q q 0 0 0 rg BT 132.30 648.00 Td (oceeding) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 633.40 Td (On ) Tj ET Q q 0 0 0 rg BT 60.38 633.40 Td (April ) Tj ET Q q 0 0 0 rg BT 78.68 633.40 Td (24, ) Tj ET Q q 0 0 0 rg BT 90.10 633.40 Td (2013 ) Tj ET Q q 0 0 0 rg BT 107.51 633.40 Td (the ) Tj ET Q q 0 0 0 rg BT 118.70 633.40 Td (Competition ) Tj ET Q q 0 0 0 rg BT 160.12 633.40 Td (Protection ) Tj ET Q q 0 0 0 rg BT 194.10 633.40 Td (Agency ) Tj ET Q q 0 0 0 rg BT 220.39 633.40 Td (of ) Tj ET Q q 0 0 0 rg BT 228.47 633.40 Td (the ) Tj ET Q q 0 0 0 rg BT 239.66 633.40 Td (Republic ) Tj ET Q q 0 0 0 rg BT 269.96 633.40 Td (of ) Tj ET Q q 0 0 0 rg BT 278.04 633.40 Td (Slovenia ) Tj ET Q q 0 0 0 rg BT 307.45 633.40 Td (\(CP) Tj ET Q q 0 0 0 rg BT 322.72 633.40 Td (A\) ) Tj ET Q q 0 0 0 rg BT 336.12 633.40 Td (adopted ) Tj ET Q q 0 0 0 rg BT 362.86 633.40 Td (a ) Tj ET Q q 0 0 0 rg BT 367.83 633.40 Td (decision ) Tj ET Q q 0 0 0 rg BT 395.90 633.40 Td (finding ) Tj ET Q q 0 0 0 rg BT 420.43 633.40 Td (that ) Tj ET Q q 0 0 0 rg BT 433.84 633.40 Td (our ) Tj ET Q q 0 0 0 rg BT 445.92 633.40 Td (wholly-owned ) Tj ET Q q 0 0 0 rg BT 493.55 633.40 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 527.85 633.40 Td (Produkcija ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 623.80 Td (Plus ) Tj ET Q q 0 0 0 rg BT 65.88 623.80 Td (d.o.o. ) Tj ET Q q 0 0 0 rg BT 86.48 623.80 Td (\(Pro ) Tj ET Q q 0 0 0 rg BT 106.41 623.80 Td (Plus\) ) Tj ET Q q 0 0 0 rg BT 129.01 623.80 Td (has ) Tj ET Q q 0 0 0 rg BT 142.28 623.80 Td (abused ) Tj ET Q q 0 0 0 rg BT 167.09 623.80 Td (a ) Tj ET Q q 0 0 0 rg BT 173.24 623.80 Td (dominant ) Tj ET Q q 0 0 0 rg BT 206.06 623.80 Td (position ) Tj ET Q q 0 0 0 rg BT 234.44 623.80 Td (on ) Tj ET Q q 0 0 0 rg BT 245.04 623.80 Td (the ) Tj ET Q q 0 0 0 rg BT 257.41 623.80 Td (Slovenian ) Tj ET Q q 0 0 0 rg BT 292.01 623.80 Td (television ) Tj ET Q q 0 0 0 rg BT 325.71 623.80 Td (advertising ) Tj ET Q q 0 0 0 rg BT 363.86 623.80 Td (market ) Tj ET Q q 0 0 0 rg BT 388.67 623.80 Td (in ) Tj ET Q q 0 0 0 rg BT 397.49 623.80 Td (breach ) Tj ET Q q 0 0 0 rg BT 421.41 623.80 Td (of ) Tj ET Q q 0 0 0 rg BT 430.67 623.80 Td (applicable ) Tj ET Q q 0 0 0 rg BT 466.14 623.80 Td (competition ) Tj ET Q q 0 0 0 rg BT 506.96 623.80 Td (law) Tj ET Q q 0 0 0 rg BT 517.99 623.80 Td (, ) Tj ET Q q 0 0 0 rg BT 522.59 623.80 Td (by ) Tj ET Q q 0 0 0 rg BT 533.19 623.80 Td (requiring ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 614.20 Td (exclusivity ) Tj ET Q q 0 0 0 rg BT 86.46 614.20 Td (from ) Tj ET Q q 0 0 0 rg BT 103.86 614.20 Td (its ) Tj ET Q q 0 0 0 rg BT 113.27 614.20 Td (advertising ) Tj ET Q q 0 0 0 rg BT 150.66 614.20 Td (customers ) Tj ET Q q 0 0 0 rg BT 184.95 614.20 Td (and ) Tj ET Q q 0 0 0 rg BT 198.35 614.20 Td (by ) Tj ET Q q 0 0 0 rg BT 208.20 614.20 Td (applying ) Tj ET Q q 0 0 0 rg BT 238.05 614.20 Td (loyalty ) Tj ET Q q 0 0 0 rg BT 262.12 614.20 Td (discounts ) Tj ET Q q 0 0 0 rg BT 294.19 614.20 Td (in ) Tj ET Q q 0 0 0 rg BT 302.27 614.20 Td (favor ) Tj ET Q q 0 0 0 rg BT 321.00 614.20 Td (of ) Tj ET Q q 0 0 0 rg BT 329.51 614.20 Td (its ) Tj ET Q q 0 0 0 rg BT 338.92 614.20 Td (customers. ) Tj ET Q q 0 0 0 rg BT 375.21 614.20 Td (Pro ) Tj ET Q q 0 0 0 rg BT 388.17 614.20 Td (Plus ) Tj ET Q q 0 0 0 rg BT 403.81 614.20 Td (filed ) Tj ET Q q 0 0 0 rg BT 420.32 614.20 Td (an ) Tj ET Q q 0 0 0 rg BT 429.72 614.20 Td (appeal ) Tj ET Q q 0 0 0 rg BT 452.45 614.20 Td (with ) Tj ET Q q 0 0 0 rg BT 468.52 614.20 Td (the ) Tj ET Q q 0 0 0 rg BT 480.14 614.20 Td (Slovenian ) Tj ET Q q 0 0 0 rg BT 513.99 614.20 Td (Supreme ) Tj ET Q q 0 0 0 rg BT 544.28 614.20 Td (Court ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 604.60 Td (on ) Tj ET Q q 0 0 0 rg BT 59.36 604.60 Td (May ) Tj ET Q q 0 0 0 rg BT 75.88 604.60 Td (24, ) Tj ET Q q 0 0 0 rg BT 87.74 604.60 Td (2013. ) Tj ET Q q 0 0 0 rg BT 107.60 604.60 Td (On ) Tj ET Q q 0 0 0 rg BT 119.23 604.60 Td (December ) Tj ET Q q 0 0 0 rg BT 153.96 604.60 Td (3, ) Tj ET Q q 0 0 0 rg BT 161.82 604.60 Td (2013, ) Tj ET Q q 0 0 0 rg BT 181.68 604.60 Td (the ) Tj ET Q q 0 0 0 rg BT 193.31 604.60 Td (Slovenian ) Tj ET Q q 0 0 0 rg BT 227.16 604.60 Td (Supreme ) Tj ET Q q 0 0 0 rg BT 257.46 604.60 Td (Court ) Tj ET Q q 0 0 0 rg BT 277.54 604.60 Td (af) Tj ET Q q 0 0 0 rg BT 283.61 604.60 Td (firmed ) Tj ET Q q 0 0 0 rg BT 306.79 604.60 Td (the ) Tj ET Q q 0 0 0 rg BT 318.42 604.60 Td (decision ) Tj ET Q q 0 0 0 rg BT 346.94 604.60 Td (of ) Tj ET Q q 0 0 0 rg BT 355.46 604.60 Td (the ) Tj ET Q q 0 0 0 rg BT 367.10 604.60 Td (CP) Tj ET Q q 0 0 0 rg BT 376.15 604.60 Td (A. ) Tj ET Q q 0 0 0 rg BT 385.78 604.60 Td (On ) Tj ET Q q 0 0 0 rg BT 397.42 604.60 Td (July ) Tj ET Q q 0 0 0 rg BT 412.61 604.60 Td (21, ) Tj ET Q q 0 0 0 rg BT 424.47 604.60 Td (2014 ) Tj ET Q q 0 0 0 rg BT 442.33 604.60 Td (the ) Tj ET Q q 0 0 0 rg BT 453.96 604.60 Td (CP) Tj ET Q q 0 0 0 rg BT 463.01 604.60 Td (A) Tj ET Q q 0 0 0 rg BT 468.35 604.60 Td ( ) Tj ET Q q 0 0 0 rg BT 470.21 604.60 Td (adopted ) Tj ET Q q 0 0 0 rg BT 497.39 604.60 Td (a ) Tj ET Q q 0 0 0 rg BT 502.80 604.60 Td (decision ) Tj ET Q q 0 0 0 rg BT 531.32 604.60 Td (to ) Tj ET Q q 0 0 0 rg BT 539.40 604.60 Td (impose ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 595.00 Td (a ) Tj ET Q q 0 0 0 rg BT 55.05 595.00 Td (fine ) Tj ET Q q 0 0 0 rg BT 69.49 595.00 Td (of ) Tj ET Q q 0 0 0 rg BT 78.15 595.00 Td (EUR ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 96.15 595.00 Td (5.1 ) Tj ET Q q 0 0 0 rg BT 108.15 595.00 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 131.27 595.00 Td (. ) Tj ET Q q 0 0 0 rg BT 135.27 595.00 Td (Pro ) Tj ET Q q 0 0 0 rg BT 148.38 595.00 Td (Plus ) Tj ET Q q 0 0 0 rg BT 164.16 595.00 Td (appealed ) Tj ET Q q 0 0 0 rg BT 194.59 595.00 Td (the ) Tj ET Q q 0 0 0 rg BT 206.36 595.00 Td (decision ) Tj ET Q q 0 0 0 rg BT 235.02 595.00 Td (and ) Tj ET Q q 0 0 0 rg BT 248.57 595.00 Td (the ) Tj ET Q q 0 0 0 rg BT 260.35 595.00 Td (fine ) Tj ET Q q 0 0 0 rg BT 274.79 595.00 Td (was ) Tj ET Q q 0 0 0 rg BT 289.23 595.00 Td (overturned ) Tj ET Q q 0 0 0 rg BT 325.88 595.00 Td (on ) Tj ET Q q 0 0 0 rg BT 335.88 595.00 Td (November ) Tj ET Q q 0 0 0 rg BT 371.64 595.00 Td (3, ) Tj ET Q q 0 0 0 rg BT 379.64 595.00 Td (2014. ) Tj ET Q q 0 0 0 rg BT 399.50 595.00 Td (The ) Tj ET Q q 0 0 0 rg BT 413.94 595.00 Td (CP) Tj ET Q q 0 0 0 rg BT 422.99 595.00 Td (A) Tj ET Q q 0 0 0 rg BT 428.32 595.00 Td ( ) Tj ET Q q 0 0 0 rg BT 430.32 595.00 Td (is ) Tj ET Q q 0 0 0 rg BT 437.66 595.00 Td (appealing ) Tj ET Q q 0 0 0 rg BT 470.76 595.00 Td (this ) Tj ET Q q 0 0 0 rg BT 484.32 595.00 Td (decision.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 579.40 Td (b\) ) Tj ET Q q 0 0 0 rg BT 58.50 579.40 Td (Restrictions on dividends fr) Tj ET Q q 0 0 0 rg BT 146.42 579.40 Td (om Consolidated Subsidiaries and Unconsolidated ) Tj ET Q q 0 0 0 rg BT 310.94 579.40 Td (Affiliates) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 563.80 Td (Corporate ) Tj ET Q q 0 0 0 rg BT 83.71 563.80 Td (law ) Tj ET Q q 0 0 0 rg BT 97.49 563.80 Td (in ) Tj ET Q q 0 0 0 rg BT 105.94 563.80 Td (the ) Tj ET Q q 0 0 0 rg BT 117.93 563.80 Td (Central ) Tj ET Q q 0 0 0 rg BT 143.71 563.80 Td (and ) Tj ET Q q 0 0 0 rg BT 157.48 563.80 Td (Eastern ) Tj ET Q q 0 0 0 rg BT 183.69 563.80 Td (European ) Tj ET Q q 0 0 0 rg BT 216.57 563.80 Td (countries ) Tj ET Q q 0 0 0 rg BT 248.12 563.80 Td (in ) Tj ET Q q 0 0 0 rg BT 256.57 563.80 Td (which ) Tj ET Q q 0 0 0 rg BT 278.34 563.80 Td (we ) Tj ET Q q 0 0 0 rg BT 289.89 563.80 Td (have ) Tj ET Q q 0 0 0 rg BT 307.22 563.80 Td (operations ) Tj ET Q q 0 0 0 rg BT 342.77 563.80 Td (stipulates ) Tj ET Q q 0 0 0 rg BT 375.21 563.80 Td (generally ) Tj ET Q q 0 0 0 rg BT 407.20 563.80 Td (that ) Tj ET Q q 0 0 0 rg BT 421.42 563.80 Td (dividends ) Tj ET Q q 0 0 0 rg BT 454.75 563.80 Td (may ) Tj ET Q q 0 0 0 rg BT 470.75 563.80 Td (be ) Tj ET Q q 0 0 0 rg BT 480.53 563.80 Td (declared ) Tj ET Q q 0 0 0 rg BT 509.84 563.80 Td (by ) Tj ET Q q 0 0 0 rg BT 520.07 563.80 Td (shareholders, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 554.20 Td (out ) Tj ET Q q 0 0 0 rg BT 62.25 554.20 Td (of ) Tj ET Q q 0 0 0 rg BT 71.44 554.20 Td (yearly ) Tj ET Q q 0 0 0 rg BT 93.96 554.20 Td (profits, ) Tj ET Q q 0 0 0 rg BT 119.38 554.20 Td (subject ) Tj ET Q q 0 0 0 rg BT 144.56 554.20 Td (to ) Tj ET Q q 0 0 0 rg BT 153.31 554.20 Td (the ) Tj ET Q q 0 0 0 rg BT 165.62 554.20 Td (maintenance ) Tj ET Q q 0 0 0 rg BT 208.57 554.20 Td (of ) Tj ET Q q 0 0 0 rg BT 217.76 554.20 Td (registered ) Tj ET Q q 0 0 0 rg BT 251.83 554.20 Td (capital ) Tj ET Q q 0 0 0 rg BT 275.67 554.20 Td (and ) Tj ET Q q 0 0 0 rg BT 289.75 554.20 Td (required ) Tj ET Q q 0 0 0 rg BT 318.93 554.20 Td (reserves ) Tj ET Q q 0 0 0 rg BT 347.67 554.20 Td (after ) Tj ET Q q 0 0 0 rg BT 364.85 554.20 Td (the ) Tj ET Q q 0 0 0 rg BT 377.15 554.20 Td (recovery ) Tj ET Q q 0 0 0 rg BT 407.66 554.20 Td (of ) Tj ET Q q 0 0 0 rg BT 416.85 554.20 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 459.80 554.20 Td (losses. ) Tj ET Q q 0 0 0 rg BT 483.26 554.20 Td (The ) Tj ET Q q 0 0 0 rg BT 498.23 554.20 Td (reserve ) Tj ET Q q 0 0 0 rg BT 523.85 554.20 Td (requirement ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 544.60 Td (restriction ) Tj ET Q q 0 0 0 rg BT 83.92 544.60 Td (generally ) Tj ET Q q 0 0 0 rg BT 115.66 544.60 Td (provides ) Tj ET Q q 0 0 0 rg BT 145.20 544.60 Td (that ) Tj ET Q q 0 0 0 rg BT 159.18 544.60 Td (before ) Tj ET Q q 0 0 0 rg BT 181.59 544.60 Td (dividends ) Tj ET Q q 0 0 0 rg BT 214.69 544.60 Td (may ) Tj ET Q q 0 0 0 rg BT 230.45 544.60 Td (be ) Tj ET Q q 0 0 0 rg BT 239.98 544.60 Td (distributed, ) Tj ET Q q 0 0 0 rg BT 278.18 544.60 Td (a ) Tj ET Q q 0 0 0 rg BT 283.72 544.60 Td (portion ) Tj ET Q q 0 0 0 rg BT 308.81 544.60 Td (of ) Tj ET Q q 0 0 0 rg BT 317.46 544.60 Td (annual ) Tj ET Q q 0 0 0 rg BT 340.77 544.60 Td (net ) Tj ET Q q 0 0 0 rg BT 352.53 544.60 Td (profits ) Tj ET Q q 0 0 0 rg BT 375.40 544.60 Td (\(typically ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.04 544.60 Td (5.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 424.70 544.60 Td (\) ) Tj ET Q q 0 0 0 rg BT 429.35 544.60 Td (be ) Tj ET Q q 0 0 0 rg BT 438.89 544.60 Td (allocated ) Tj ET Q q 0 0 0 rg BT 469.74 544.60 Td (to ) Tj ET Q q 0 0 0 rg BT 477.95 544.60 Td (a ) Tj ET Q q 0 0 0 rg BT 483.48 544.60 Td (reserve, ) Tj ET Q q 0 0 0 rg BT 510.56 544.60 Td (which ) Tj ET Q q 0 0 0 rg BT 532.10 544.60 Td (reserve ) Tj ET Q q 0 0 0 rg BT 557.18 544.60 Td (is ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 535.00 Td (capped ) Tj ET Q q 0 0 0 rg BT 74.15 535.00 Td (at ) Tj ET Q q 0 0 0 rg BT 81.92 535.00 Td (a ) Tj ET Q q 0 0 0 rg BT 87.47 535.00 Td (proportion ) Tj ET Q q 0 0 0 rg BT 123.25 535.00 Td (of ) Tj ET Q q 0 0 0 rg BT 131.91 535.00 Td (the ) Tj ET Q q 0 0 0 rg BT 143.68 535.00 Td (registered ) Tj ET Q q 0 0 0 rg BT 177.22 535.00 Td (capital ) Tj ET Q q 0 0 0 rg BT 200.54 535.00 Td (of ) Tj ET Q q 0 0 0 rg BT 209.20 535.00 Td (a ) Tj ET Q q 0 0 0 rg BT 214.75 535.00 Td (company ) Tj ET Q q 0 0 0 rg BT 246.08 535.00 Td (\(ranging ) Tj ET Q q 0 0 0 rg BT 275.18 535.00 Td (from ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.73 535.00 Td (5.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 309.39 535.00 Td ( ) Tj ET Q q 0 0 0 rg BT 311.39 535.00 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.61 535.00 Td (25.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.27 535.00 Td (\). ) Tj ET Q q 0 0 0 rg BT 346.79 535.00 Td (The ) Tj ET Q q 0 0 0 rg BT 361.23 535.00 Td (restricted ) Tj ET Q q 0 0 0 rg BT 392.99 535.00 Td (net ) Tj ET Q q 0 0 0 rg BT 404.76 535.00 Td (assets ) Tj ET Q q 0 0 0 rg BT 425.43 535.00 Td (of ) Tj ET Q q 0 0 0 rg BT 434.09 535.00 Td (our ) Tj ET Q q 0 0 0 rg BT 446.75 535.00 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 489.18 535.00 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 528.96 535.00 Td (and ) Tj ET Q q 0 0 0 rg BT 542.51 535.00 Td (equity ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 525.40 Td (in ) Tj ET Q q 0 0 0 rg BT 57.72 525.40 Td (earnings ) Tj ET Q q 0 0 0 rg BT 86.82 525.40 Td (of ) Tj ET Q q 0 0 0 rg BT 95.49 525.40 Td (investments ) Tj ET Q q 0 0 0 rg BT 135.71 525.40 Td (accounted ) Tj ET Q q 0 0 0 rg BT 170.13 525.40 Td (for ) Tj ET Q q 0 0 0 rg BT 181.46 525.40 Td (under ) Tj ET Q q 0 0 0 rg BT 201.68 525.40 Td (the ) Tj ET Q q 0 0 0 rg BT 213.45 525.40 Td (equity ) Tj ET Q q 0 0 0 rg BT 235.45 525.40 Td (method ) Tj ET Q q 0 0 0 rg BT 261.44 525.40 Td (together ) Tj ET Q q 0 0 0 rg BT 289.65 525.40 Td (are ) Tj ET Q q 0 0 0 rg BT 301.42 525.40 Td (less ) Tj ET Q q 0 0 0 rg BT 315.42 525.40 Td (than ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.19 525.40 Td (25.0%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.86 525.40 Td ( ) Tj ET Q q 0 0 0 rg BT 353.86 525.40 Td (of ) Tj ET Q q 0 0 0 rg BT 362.52 525.40 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 404.95 525.40 Td (net ) Tj ET Q q 0 0 0 rg BT 416.73 525.40 Td (assets.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 49.50 509.80 Td (c\) ) Tj ET Q q 0 0 0 rg BT 57.71 509.80 Td (Romanian ) Tj ET Q q 0 0 0 rg BT 92.60 509.80 Td (T) Tj ET Q q 0 0 0 rg BT 96.32 509.80 Td (ax ) Tj ET Q q 0 0 0 rg BT 105.72 509.80 Td (Audits) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 494.20 Td (Certain ) Tj ET Q q 0 0 0 rg BT 74.80 494.20 Td (of ) Tj ET Q q 0 0 0 rg BT 83.22 494.20 Td (our ) Tj ET Q q 0 0 0 rg BT 95.65 494.20 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 135.18 494.20 Td (in ) Tj ET Q q 0 0 0 rg BT 143.16 494.20 Td (Romania ) Tj ET Q q 0 0 0 rg BT 173.79 494.20 Td (are ) Tj ET Q q 0 0 0 rg BT 185.32 494.20 Td (currently ) Tj ET Q q 0 0 0 rg BT 215.95 494.20 Td (being ) Tj ET Q q 0 0 0 rg BT 235.48 494.20 Td (audited ) Tj ET Q q 0 0 0 rg BT 260.78 494.20 Td (by ) Tj ET Q q 0 0 0 rg BT 270.54 494.20 Td (the ) Tj ET Q q 0 0 0 rg BT 282.07 494.20 Td (Romanian ) Tj ET Q q 0 0 0 rg BT 316.71 494.20 Td (tax ) Tj ET Q q 0 0 0 rg BT 328.24 494.20 Td (authorities. ) Tj ET Q q 0 0 0 rg BT 365.64 494.20 Td (The ) Tj ET Q q 0 0 0 rg BT 379.83 494.20 Td (audit ) Tj ET Q q 0 0 0 rg BT 397.59 494.20 Td (of ) Tj ET Q q 0 0 0 rg BT 406.01 494.20 Td (Pro ) Tj ET Q q 0 0 0 rg BT 418.75 494.20 Td (TV) Tj ET Q q 0 0 0 rg BT 429.27 494.20 Td ( ) Tj ET Q q 0 0 0 rg BT 431.03 494.20 Td (covers ) Tj ET Q q 0 0 0 rg BT 453.66 494.20 Td (the ) Tj ET Q q 0 0 0 rg BT 465.19 494.20 Td (years ) Tj ET Q q 0 0 0 rg BT 483.83 494.20 Td (2009 ) Tj ET Q q 0 0 0 rg BT 501.59 494.20 Td (to ) Tj ET Q q 0 0 0 rg BT 509.57 494.20 Td (2013. ) Tj ET Q q 0 0 0 rg BT 529.20 494.20 Td (The ) Tj ET Q q 0 0 0 rg BT 543.39 494.20 Td (audits ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 484.60 Td (of ) Tj ET Q q 0 0 0 rg BT 57.99 484.60 Td (MPS ) Tj ET Q q 0 0 0 rg BT 75.83 484.60 Td (and ) Tj ET Q q 0 0 0 rg BT 89.20 484.60 Td (MPE ) Tj ET Q q 0 0 0 rg BT 107.48 484.60 Td (cover ) Tj ET Q q 0 0 0 rg BT 127.07 484.60 Td (the ) Tj ET Q q 0 0 0 rg BT 138.67 484.60 Td (years ) Tj ET Q q 0 0 0 rg BT 157.37 484.60 Td (2010 ) Tj ET Q q 0 0 0 rg BT 175.20 484.60 Td (to ) Tj ET Q q 0 0 0 rg BT 183.24 484.60 Td (2013 ) Tj ET Q q 0 0 0 rg BT 201.07 484.60 Td (and ) Tj ET Q q 0 0 0 rg BT 214.44 484.60 Td (2009 ) Tj ET Q q 0 0 0 rg BT 232.27 484.60 Td (to ) Tj ET Q q 0 0 0 rg BT 240.32 484.60 Td (2013, ) Tj ET Q q 0 0 0 rg BT 260.14 484.60 Td (respectively) Tj ET Q q 0 0 0 rg BT 298.27 484.60 Td (, ) Tj ET Q q 0 0 0 rg BT 302.10 484.60 Td (and ) Tj ET Q q 0 0 0 rg BT 315.47 484.60 Td (are ) Tj ET Q q 0 0 0 rg BT 327.06 484.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 357.76 484.60 Td (suspended ) Tj ET Q q 0 0 0 rg BT 392.92 484.60 Td (in ) Tj ET Q q 0 0 0 rg BT 400.96 484.60 Td (connection ) Tj ET Q q 0 0 0 rg BT 437.89 484.60 Td (with ) Tj ET Q q 0 0 0 rg BT 453.94 484.60 Td (investigations ) Tj ET Q q 0 0 0 rg BT 500.20 484.60 Td (being ) Tj ET Q q 0 0 0 rg BT 519.80 484.60 Td (conducted ) Tj ET Q q 0 0 0 rg BT 554.50 484.60 Td (by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 475.00 Td (the ) Tj ET Q q 0 0 0 rg BT 61.19 475.00 Td (Romanian ) Tj ET Q q 0 0 0 rg BT 95.99 475.00 Td (authorities ) Tj ET Q q 0 0 0 rg BT 131.67 475.00 Td (there. ) Tj ET Q q 0 0 0 rg BT 151.57 475.00 Td (\(See ) Tj ET Q q 0 0 0 rg BT 167.70 475.00 Td (Part ) Tj ET Q q 0 0 0 rg BT 182.51 475.00 Td (1, ) Tj ET Q q 0 0 0 rg BT 190.42 475.00 Td (Item ) Tj ET Q q 0 0 0 rg BT 207.00 475.00 Td (3, ) Tj ET Q q 0 0 0 rg BT 214.91 475.00 Td (MPS ) Tj ET Q q 0 0 0 rg BT 236.39 475.00 Td (and ) Tj ET Q q 0 0 0 rg BT 249.85 475.00 Td (MPE ) Tj ET Q q 0 0 0 rg BT 268.22 475.00 Td (Investigations.\) ) Tj ET Q q 0 0 0 rg BT 323.09 475.00 Td (These ) Tj ET Q q 0 0 0 rg BT 344.11 475.00 Td (audits ) Tj ET Q q 0 0 0 rg BT 365.13 475.00 Td (are ) Tj ET Q q 0 0 0 rg BT 376.81 475.00 Td (focused ) Tj ET Q q 0 0 0 rg BT 403.61 475.00 Td (on ) Tj ET Q q 0 0 0 rg BT 413.52 475.00 Td (a ) Tj ET Q q 0 0 0 rg BT 418.99 475.00 Td (range ) Tj ET Q q 0 0 0 rg BT 438.67 475.00 Td (of ) Tj ET Q q 0 0 0 rg BT 447.25 475.00 Td (matters, ) Tj ET Q q 0 0 0 rg BT 474.71 475.00 Td (including ) Tj ET Q q 0 0 0 rg BT 506.85 475.00 Td (corporate ) Tj ET Q q 0 0 0 rg BT 538.96 475.00 Td (income ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 465.40 Td (taxes, ) Tj ET Q q 0 0 0 rg BT 69.94 465.40 Td (payroll ) Tj ET Q q 0 0 0 rg BT 94.60 465.40 Td (tax ) Tj ET Q q 0 0 0 rg BT 106.37 465.40 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 138.14 465.40 Td (and ) Tj ET Q q 0 0 0 rg BT 151.70 465.40 Td (value ) Tj ET Q q 0 0 0 rg BT 171.02 465.40 Td (added ) Tj ET Q q 0 0 0 rg BT 192.12 465.40 Td (tax ) Tj ET Q q 0 0 0 rg BT 203.89 465.40 Td (\(V) Tj ET Q q 0 0 0 rg BT 214.86 465.40 Td (A) Tj ET Q q 0 0 0 rg BT 219.75 465.40 Td (T\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 449.80 Td (In ) Tj ET Q q 0 0 0 rg BT 58.55 449.80 Td (the ) Tj ET Q q 0 0 0 rg BT 70.72 449.80 Td (course ) Tj ET Q q 0 0 0 rg BT 93.99 449.80 Td (of ) Tj ET Q q 0 0 0 rg BT 103.04 449.80 Td (their ) Tj ET Q q 0 0 0 rg BT 120.09 449.80 Td (audit ) Tj ET Q q 0 0 0 rg BT 138.47 449.80 Td (of ) Tj ET Q q 0 0 0 rg BT 147.53 449.80 Td (Pro ) Tj ET Q q 0 0 0 rg BT 160.86 449.80 Td (TV) Tj ET Q q 0 0 0 rg BT 170.49 449.80 Td (, ) Tj ET Q q 0 0 0 rg BT 174.88 449.80 Td (the ) Tj ET Q q 0 0 0 rg BT 187.04 449.80 Td (tax ) Tj ET Q q 0 0 0 rg BT 199.21 449.80 Td (authorities ) Tj ET Q q 0 0 0 rg BT 235.37 449.80 Td (are ) Tj ET Q q 0 0 0 rg BT 247.52 449.80 Td (scrutinizing ) Tj ET Q q 0 0 0 rg BT 287.68 449.80 Td (in ) Tj ET Q q 0 0 0 rg BT 296.29 449.80 Td (particular ) Tj ET Q q 0 0 0 rg BT 329.33 449.80 Td (the ) Tj ET Q q 0 0 0 rg BT 341.49 449.80 Td (nature ) Tj ET Q q 0 0 0 rg BT 363.87 449.80 Td (of ) Tj ET Q q 0 0 0 rg BT 372.93 449.80 Td (the ) Tj ET Q q 0 0 0 rg BT 385.09 449.80 Td (relationship ) Tj ET Q q 0 0 0 rg BT 425.25 449.80 Td (between ) Tj ET Q q 0 0 0 rg BT 454.29 449.80 Td (Pro ) Tj ET Q q 0 0 0 rg BT 467.62 449.80 Td (TV) Tj ET Q q 0 0 0 rg BT 478.14 449.80 Td ( ) Tj ET Q q 0 0 0 rg BT 480.53 449.80 Td (and ) Tj ET Q q 0 0 0 rg BT 494.47 449.80 Td (a ) Tj ET Q q 0 0 0 rg BT 500.41 449.80 Td (third ) Tj ET Q q 0 0 0 rg BT 517.91 449.80 Td (party ) Tj ET Q q 0 0 0 rg BT 536.74 449.80 Td (services ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 440.20 Td (company ) Tj ET Q q 0 0 0 rg BT 80.93 440.20 Td (through ) Tj ET Q q 0 0 0 rg BT 107.91 440.20 Td (which ) Tj ET Q q 0 0 0 rg BT 129.57 440.20 Td (a ) Tj ET Q q 0 0 0 rg BT 135.22 440.20 Td (considerable ) Tj ET Q q 0 0 0 rg BT 177.75 440.20 Td (number ) Tj ET Q q 0 0 0 rg BT 204.29 440.20 Td (of ) Tj ET Q q 0 0 0 rg BT 213.05 440.20 Td (freelance ) Tj ET Q q 0 0 0 rg BT 244.46 440.20 Td (staf) Tj ET Q q 0 0 0 rg BT 255.86 440.20 Td (f ) Tj ET Q q 0 0 0 rg BT 260.63 440.20 Td (were ) Tj ET Q q 0 0 0 rg BT 278.27 440.20 Td (engaged ) Tj ET Q q 0 0 0 rg BT 307.03 440.20 Td (by ) Tj ET Q q 0 0 0 rg BT 317.13 440.20 Td (Pro ) Tj ET Q q 0 0 0 rg BT 330.19 440.20 Td (TV) Tj ET Q q 0 0 0 rg BT 340.71 440.20 Td ( ) Tj ET Q q 0 0 0 rg BT 342.81 440.20 Td (throughout ) Tj ET Q q 0 0 0 rg BT 380.02 440.20 Td (the ) Tj ET Q q 0 0 0 rg BT 391.90 440.20 Td (period ) Tj ET Q q 0 0 0 rg BT 414.44 440.20 Td (of ) Tj ET Q q 0 0 0 rg BT 423.20 440.20 Td (the ) Tj ET Q q 0 0 0 rg BT 435.08 440.20 Td (audit. ) Tj ET Q q 0 0 0 rg BT 455.02 440.20 Td (The ) Tj ET Q q 0 0 0 rg BT 469.56 440.20 Td (tax ) Tj ET Q q 0 0 0 rg BT 481.44 440.20 Td (authorities ) Tj ET Q q 0 0 0 rg BT 517.31 440.20 Td (are ) Tj ET Q q 0 0 0 rg BT 529.18 440.20 Td (evaluating ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 430.60 Td (whether ) Tj ET Q q 0 0 0 rg BT 77.60 430.60 Td (such ) Tj ET Q q 0 0 0 rg BT 94.60 430.60 Td (freelance ) Tj ET Q q 0 0 0 rg BT 126.24 430.60 Td (staf) Tj ET Q q 0 0 0 rg BT 137.65 430.60 Td (f ) Tj ET Q q 0 0 0 rg BT 142.65 430.60 Td (were ) Tj ET Q q 0 0 0 rg BT 160.53 430.60 Td (suf) Tj ET Q q 0 0 0 rg BT 170.16 430.60 Td (ficiently ) Tj ET Q q 0 0 0 rg BT 199.15 430.60 Td (independent ) Tj ET Q q 0 0 0 rg BT 240.59 430.60 Td (of ) Tj ET Q q 0 0 0 rg BT 249.59 430.60 Td (Pro ) Tj ET Q q 0 0 0 rg BT 262.87 430.60 Td (TV) Tj ET Q q 0 0 0 rg BT 272.50 430.60 Td (. ) Tj ET Q q 0 0 0 rg BT 276.83 430.60 Td (In ) Tj ET Q q 0 0 0 rg BT 285.83 430.60 Td (the ) Tj ET Q q 0 0 0 rg BT 297.94 430.60 Td (event ) Tj ET Q q 0 0 0 rg BT 317.60 430.60 Td (the ) Tj ET Q q 0 0 0 rg BT 329.71 430.60 Td (tax ) Tj ET Q q 0 0 0 rg BT 341.82 430.60 Td (authorities ) Tj ET Q q 0 0 0 rg BT 377.93 430.60 Td (conclude ) Tj ET Q q 0 0 0 rg BT 409.14 430.60 Td (such ) Tj ET Q q 0 0 0 rg BT 426.14 430.60 Td (freelance ) Tj ET Q q 0 0 0 rg BT 457.78 430.60 Td (staf) Tj ET Q q 0 0 0 rg BT 469.19 430.60 Td (f ) Tj ET Q q 0 0 0 rg BT 474.19 430.60 Td (were ) Tj ET Q q 0 0 0 rg BT 492.07 430.60 Td (dependent ) Tj ET Q q 0 0 0 rg BT 527.28 430.60 Td (and ) Tj ET Q q 0 0 0 rg BT 541.16 430.60 Td (should ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 421.00 Td (have ) Tj ET Q q 0 0 0 rg BT 66.81 421.00 Td (been ) Tj ET Q q 0 0 0 rg BT 84.13 421.00 Td (treated ) Tj ET Q q 0 0 0 rg BT 108.10 421.00 Td (as ) Tj ET Q q 0 0 0 rg BT 116.97 421.00 Td (employees, ) Tj ET Q q 0 0 0 rg BT 155.39 421.00 Td (payments ) Tj ET Q q 0 0 0 rg BT 188.27 421.00 Td (made ) Tj ET Q q 0 0 0 rg BT 207.80 421.00 Td (to ) Tj ET Q q 0 0 0 rg BT 216.23 421.00 Td (them ) Tj ET Q q 0 0 0 rg BT 234.44 421.00 Td (would ) Tj ET Q q 0 0 0 rg BT 256.65 421.00 Td (be ) Tj ET Q q 0 0 0 rg BT 266.41 421.00 Td (treated ) Tj ET Q q 0 0 0 rg BT 290.39 421.00 Td (as ) Tj ET Q q 0 0 0 rg BT 299.26 421.00 Td (salary ) Tj ET Q q 0 0 0 rg BT 320.57 421.00 Td (and ) Tj ET Q q 0 0 0 rg BT 334.34 421.00 Td (subject ) Tj ET Q q 0 0 0 rg BT 359.21 421.00 Td (to ) Tj ET Q q 0 0 0 rg BT 367.64 421.00 Td (deductions ) Tj ET Q q 0 0 0 rg BT 404.51 421.00 Td (for ) Tj ET Q q 0 0 0 rg BT 416.05 421.00 Td (payroll ) Tj ET Q q 0 0 0 rg BT 440.92 421.00 Td (taxes. ) Tj ET Q q 0 0 0 rg BT 461.57 421.00 Td (Pro ) Tj ET Q q 0 0 0 rg BT 474.73 421.00 Td (TV) Tj ET Q q 0 0 0 rg BT 485.25 421.00 Td ( ) Tj ET Q q 0 0 0 rg BT 487.47 421.00 Td (would ) Tj ET Q q 0 0 0 rg BT 509.68 421.00 Td (be ) Tj ET Q q 0 0 0 rg BT 519.44 421.00 Td (liable ) Tj ET Q q 0 0 0 rg BT 539.42 421.00 Td (for ) Tj ET Q q 0 0 0 rg BT 550.96 421.00 Td (any ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 411.40 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 73.27 411.40 Td (payroll ) Tj ET Q q 0 0 0 rg BT 97.93 411.40 Td (taxes ) Tj ET Q q 0 0 0 rg BT 116.37 411.40 Td (as ) Tj ET Q q 0 0 0 rg BT 125.04 411.40 Td (well ) Tj ET Q q 0 0 0 rg BT 140.81 411.40 Td (as ) Tj ET Q q 0 0 0 rg BT 149.47 411.40 Td (penalties ) Tj ET Q q 0 0 0 rg BT 179.91 411.40 Td (and ) Tj ET Q q 0 0 0 rg BT 193.46 411.40 Td (interest.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 395.80 Td (The ) Tj ET Q q 0 0 0 rg BT 63.94 395.80 Td (tax ) Tj ET Q q 0 0 0 rg BT 75.71 395.80 Td (authorities ) Tj ET Q q 0 0 0 rg BT 111.48 395.80 Td (are ) Tj ET Q q 0 0 0 rg BT 123.25 395.80 Td (also ) Tj ET Q q 0 0 0 rg BT 138.13 395.80 Td (reviewing ) Tj ET Q q 0 0 0 rg BT 172.12 395.80 Td (whether ) Tj ET Q q 0 0 0 rg BT 199.89 395.80 Td (certain ) Tj ET Q q 0 0 0 rg BT 223.65 395.80 Td (other ) Tj ET Q q 0 0 0 rg BT 242.09 395.80 Td (individuals ) Tj ET Q q 0 0 0 rg BT 279.64 395.80 Td (retained ) Tj ET Q q 0 0 0 rg BT 307.40 395.80 Td (directly ) Tj ET Q q 0 0 0 rg BT 333.84 395.80 Td (by ) Tj ET Q q 0 0 0 rg BT 343.84 395.80 Td (Pro ) Tj ET Q q 0 0 0 rg BT 356.80 395.80 Td (TV) Tj ET Q q 0 0 0 rg BT 366.44 395.80 Td (, ) Tj ET Q q 0 0 0 rg BT 370.44 395.80 Td (MPS ) Tj ET Q q 0 0 0 rg BT 388.45 395.80 Td (and ) Tj ET Q q 0 0 0 rg BT 402.00 395.80 Td (MPE ) Tj ET Q q 0 0 0 rg BT 420.45 395.80 Td (should ) Tj ET Q q 0 0 0 rg BT 443.79 395.80 Td (have ) Tj ET Q q 0 0 0 rg BT 460.89 395.80 Td (been ) Tj ET Q q 0 0 0 rg BT 477.99 395.80 Td (classified ) Tj ET Q q 0 0 0 rg BT 510.20 395.80 Td (as ) Tj ET Q q 0 0 0 rg BT 518.86 395.80 Td (employees. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 380.20 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 380.20 Td (e ) Tj ET Q q 0 0 0 rg BT 62.09 380.20 Td (believe ) Tj ET Q q 0 0 0 rg BT 87.31 380.20 Td (that ) Tj ET Q q 0 0 0 rg BT 101.43 380.20 Td (upon ) Tj ET Q q 0 0 0 rg BT 119.55 380.20 Td (completion ) Tj ET Q q 0 0 0 rg BT 157.67 380.20 Td (of ) Tj ET Q q 0 0 0 rg BT 166.46 380.20 Td (these ) Tj ET Q q 0 0 0 rg BT 185.02 380.20 Td (audits ) Tj ET Q q 0 0 0 rg BT 206.26 380.20 Td (the ) Tj ET Q q 0 0 0 rg BT 218.16 380.20 Td (Romanian ) Tj ET Q q 0 0 0 rg BT 253.16 380.20 Td (tax ) Tj ET Q q 0 0 0 rg BT 265.06 380.20 Td (authorities ) Tj ET Q q 0 0 0 rg BT 300.96 380.20 Td (will ) Tj ET Q q 0 0 0 rg BT 315.53 380.20 Td (assess ) Tj ET Q q 0 0 0 rg BT 337.21 380.20 Td (certain ) Tj ET Q q 0 0 0 rg BT 361.09 380.20 Td (payroll ) Tj ET Q q 0 0 0 rg BT 385.88 380.20 Td (taxes, ) Tj ET Q q 0 0 0 rg BT 406.44 380.20 Td (penalties ) Tj ET Q q 0 0 0 rg BT 437.00 380.20 Td (and ) Tj ET Q q 0 0 0 rg BT 450.68 380.20 Td (interest ) Tj ET Q q 0 0 0 rg BT 476.35 380.20 Td (in ) Tj ET Q q 0 0 0 rg BT 484.70 380.20 Td (respect ) Tj ET Q q 0 0 0 rg BT 509.47 380.20 Td (of ) Tj ET Q q 0 0 0 rg BT 518.26 380.20 Td (the ) Tj ET Q q 0 0 0 rg BT 530.16 380.20 Td (manner ) Tj ET Q q 0 0 0 rg BT 556.27 380.20 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 370.60 Td (which ) Tj ET Q q 0 0 0 rg BT 71.07 370.60 Td (the ) Tj ET Q q 0 0 0 rg BT 82.86 370.60 Td (other ) Tj ET Q q 0 0 0 rg BT 101.32 370.60 Td (individuals ) Tj ET Q q 0 0 0 rg BT 138.89 370.60 Td (retained ) Tj ET Q q 0 0 0 rg BT 166.67 370.60 Td (directly ) Tj ET Q q 0 0 0 rg BT 193.12 370.60 Td (by ) Tj ET Q q 0 0 0 rg BT 203.14 370.60 Td (Pro ) Tj ET Q q 0 0 0 rg BT 216.13 370.60 Td (TV) Tj ET Q q 0 0 0 rg BT 225.76 370.60 Td (, ) Tj ET Q q 0 0 0 rg BT 229.78 370.60 Td (MPS ) Tj ET Q q 0 0 0 rg BT 247.81 370.60 Td (and ) Tj ET Q q 0 0 0 rg BT 261.38 370.60 Td (MPE ) Tj ET Q q 0 0 0 rg BT 279.85 370.60 Td (were ) Tj ET Q q 0 0 0 rg BT 297.41 370.60 Td (engaged ) Tj ET Q q 0 0 0 rg BT 326.08 370.60 Td (and ) Tj ET Q q 0 0 0 rg BT 339.65 370.60 Td (have ) Tj ET Q q 0 0 0 rg BT 356.77 370.60 Td (provided ) Tj ET Q q 0 0 0 rg BT 387.22 370.60 Td (US$ ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.47 370.60 Td (12.0 ) Tj ET Q q 0 0 0 rg BT 419.49 370.60 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.60 370.60 Td ( ) Tj ET Q q 0 0 0 rg BT 444.62 370.60 Td (in ) Tj ET Q q 0 0 0 rg BT 452.86 370.60 Td (the ) Tj ET Q q 0 0 0 rg BT 464.65 370.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 486.22 370.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 510.89 370.60 Td (of ) Tj ET Q q 0 0 0 rg BT 519.58 370.60 Td (2014 ) Tj ET Q q 0 0 0 rg BT 537.59 370.60 Td (for ) Tj ET Q q 0 0 0 rg BT 548.94 370.60 Td (this. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 361.00 Td (It ) Tj ET Q q 0 0 0 rg BT 55.91 361.00 Td (is ) Tj ET Q q 0 0 0 rg BT 62.78 361.00 Td (likely ) Tj ET Q q 0 0 0 rg BT 82.52 361.00 Td (that ) Tj ET Q q 0 0 0 rg BT 96.05 361.00 Td (additional ) Tj ET Q q 0 0 0 rg BT 129.57 361.00 Td (amounts, ) Tj ET Q q 0 0 0 rg BT 160.20 361.00 Td (which ) Tj ET Q q 0 0 0 rg BT 181.28 361.00 Td (may ) Tj ET Q q 0 0 0 rg BT 196.58 361.00 Td (be ) Tj ET Q q 0 0 0 rg BT 205.66 361.00 Td (material, ) Tj ET Q q 0 0 0 rg BT 235.39 361.00 Td (in ) Tj ET Q q 0 0 0 rg BT 243.14 361.00 Td (respect ) Tj ET Q q 0 0 0 rg BT 267.32 361.00 Td (of ) Tj ET Q q 0 0 0 rg BT 275.52 361.00 Td (additional ) Tj ET Q q 0 0 0 rg BT 309.04 361.00 Td (payroll ) Tj ET Q q 0 0 0 rg BT 333.22 361.00 Td (tax ) Tj ET Q q 0 0 0 rg BT 344.52 361.00 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 375.82 361.00 Td (and ) Tj ET Q q 0 0 0 rg BT 388.90 361.00 Td (non-deductible ) Tj ET Q q 0 0 0 rg BT 438.30 361.00 Td (V) Tj ET Q q 0 0 0 rg BT 443.05 361.00 Td (A) Tj ET Q q 0 0 0 rg BT 447.94 361.00 Td (T) Tj ET Q q 0 0 0 rg BT 452.23 361.00 Td (, ) Tj ET Q q 0 0 0 rg BT 455.76 361.00 Td (plus ) Tj ET Q q 0 0 0 rg BT 470.62 361.00 Td (related ) Tj ET Q q 0 0 0 rg BT 493.91 361.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 518.99 361.00 Td (and ) Tj ET Q q 0 0 0 rg BT 532.07 361.00 Td (penalties, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 351.40 Td (will ) Tj ET Q q 0 0 0 rg BT 63.95 351.40 Td (be ) Tj ET Q q 0 0 0 rg BT 73.50 351.40 Td (levied ) Tj ET Q q 0 0 0 rg BT 95.04 351.40 Td (by ) Tj ET Q q 0 0 0 rg BT 105.04 351.40 Td (the ) Tj ET Q q 0 0 0 rg BT 116.82 351.40 Td (Romanian ) Tj ET Q q 0 0 0 rg BT 151.70 351.40 Td (tax ) Tj ET Q q 0 0 0 rg BT 163.47 351.40 Td (authorities ) Tj ET Q q 0 0 0 rg BT 199.24 351.40 Td (upon ) Tj ET Q q 0 0 0 rg BT 217.24 351.40 Td (completion ) Tj ET Q q 0 0 0 rg BT 255.23 351.40 Td (of ) Tj ET Q q 0 0 0 rg BT 263.90 351.40 Td (these ) Tj ET Q q 0 0 0 rg BT 282.34 351.40 Td (audits.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 335.80 Td (The ) Tj ET Q q 0 0 0 rg BT 63.86 335.80 Td (Pro ) Tj ET Q q 0 0 0 rg BT 76.76 335.80 Td (TV) Tj ET Q q 0 0 0 rg BT 87.28 335.80 Td ( ) Tj ET Q q 0 0 0 rg BT 89.21 335.80 Td (audit ) Tj ET Q q 0 0 0 rg BT 107.13 335.80 Td (is ) Tj ET Q q 0 0 0 rg BT 114.39 335.80 Td (ongoing, ) Tj ET Q q 0 0 0 rg BT 144.53 335.80 Td (although ) Tj ET Q q 0 0 0 rg BT 174.46 335.80 Td (it ) Tj ET Q q 0 0 0 rg BT 180.83 335.80 Td (is ) Tj ET Q q 0 0 0 rg BT 188.09 335.80 Td (possible ) Tj ET Q q 0 0 0 rg BT 216.23 335.80 Td (that ) Tj ET Q q 0 0 0 rg BT 230.15 335.80 Td (the ) Tj ET Q q 0 0 0 rg BT 241.85 335.80 Td (authorities ) Tj ET Q q 0 0 0 rg BT 277.55 335.80 Td (may ) Tj ET Q q 0 0 0 rg BT 293.25 335.80 Td (complete ) Tj ET Q q 0 0 0 rg BT 324.49 335.80 Td (this ) Tj ET Q q 0 0 0 rg BT 337.97 335.80 Td (audit ) Tj ET Q q 0 0 0 rg BT 355.90 335.80 Td (during ) Tj ET Q q 0 0 0 rg BT 378.71 335.80 Td (the ) Tj ET Q q 0 0 0 rg BT 390.40 335.80 Td (second ) Tj ET Q q 0 0 0 rg BT 414.54 335.80 Td (quarter ) Tj ET Q q 0 0 0 rg BT 439.12 335.80 Td (of ) Tj ET Q q 0 0 0 rg BT 447.71 335.80 Td (2015; ) Tj ET Q q 0 0 0 rg BT 467.86 335.80 Td (we ) Tj ET Q q 0 0 0 rg BT 479.11 335.80 Td (do ) Tj ET Q q 0 0 0 rg BT 489.04 335.80 Td (not ) Tj ET Q q 0 0 0 rg BT 501.18 335.80 Td (know ) Tj ET Q q 0 0 0 rg BT 520.89 335.80 Td (how ) Tj ET Q q 0 0 0 rg BT 536.59 335.80 Td (long ) Tj ET Q q 0 0 0 rg BT 552.73 335.80 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 326.20 Td (suspension ) Tj ET Q q 0 0 0 rg BT 86.83 326.20 Td (of ) Tj ET Q q 0 0 0 rg BT 95.72 326.20 Td (the ) Tj ET Q q 0 0 0 rg BT 107.71 326.20 Td (audits ) Tj ET Q q 0 0 0 rg BT 129.04 326.20 Td (of ) Tj ET Q q 0 0 0 rg BT 137.93 326.20 Td (MPS ) Tj ET Q q 0 0 0 rg BT 156.16 326.20 Td (and ) Tj ET Q q 0 0 0 rg BT 169.93 326.20 Td (MPE ) Tj ET Q q 0 0 0 rg BT 188.60 326.20 Td (will ) Tj ET Q q 0 0 0 rg BT 203.27 326.20 Td (continue. ) Tj ET Q q 0 0 0 rg BT 234.87 326.20 Td (Therefore, ) Tj ET Q q 0 0 0 rg BT 270.63 326.20 Td (at ) Tj ET Q q 0 0 0 rg BT 278.62 326.20 Td (the ) Tj ET Q q 0 0 0 rg BT 290.61 326.20 Td (present ) Tj ET Q q 0 0 0 rg BT 315.94 326.20 Td (time ) Tj ET Q q 0 0 0 rg BT 332.38 326.20 Td (we ) Tj ET Q q 0 0 0 rg BT 343.93 326.20 Td (are ) Tj ET Q q 0 0 0 rg BT 355.91 326.20 Td (unable ) Tj ET Q q 0 0 0 rg BT 379.46 326.20 Td (to ) Tj ET Q q 0 0 0 rg BT 387.90 326.20 Td (determine ) Tj ET Q q 0 0 0 rg BT 422.10 326.20 Td (when ) Tj ET Q q 0 0 0 rg BT 441.65 326.20 Td (the ) Tj ET Q q 0 0 0 rg BT 453.65 326.20 Td (tax ) Tj ET Q q 0 0 0 rg BT 465.64 326.20 Td (authorities ) Tj ET Q q 0 0 0 rg BT 501.63 326.20 Td (will ) Tj ET Q q 0 0 0 rg BT 516.30 326.20 Td (complete ) Tj ET Q q 0 0 0 rg BT 547.84 326.20 Td (their ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 316.60 Td (audits ) Tj ET Q q 0 0 0 rg BT 70.61 316.60 Td (or ) Tj ET Q q 0 0 0 rg BT 79.27 316.60 Td (what ) Tj ET Q q 0 0 0 rg BT 96.82 316.60 Td (assessments ) Tj ET Q q 0 0 0 rg BT 137.49 316.60 Td (may ) Tj ET Q q 0 0 0 rg BT 153.26 316.60 Td (be ) Tj ET Q q 0 0 0 rg BT 162.81 316.60 Td (issued, ) Tj ET Q q 0 0 0 rg BT 186.81 316.60 Td (or ) Tj ET Q q 0 0 0 rg BT 195.48 316.60 Td (estimate ) Tj ET Q q 0 0 0 rg BT 224.13 316.60 Td (what ) Tj ET Q q 0 0 0 rg BT 241.68 316.60 Td (the ) Tj ET Q q 0 0 0 rg BT 253.46 316.60 Td (amount ) Tj ET Q q 0 0 0 rg BT 279.45 316.60 Td (of ) Tj ET Q q 0 0 0 rg BT 288.12 316.60 Td (such ) Tj ET Q q 0 0 0 rg BT 304.78 316.60 Td (assessment ) Tj ET Q q 0 0 0 rg BT 342.33 316.60 Td (may ) Tj ET Q q 0 0 0 rg BT 358.11 316.60 Td (be.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 295.00 Td (22. ) Tj ET Q q 0 0 0 rg BT 67.50 295.00 Td (RELA) Tj ET Q q 0 0 0 rg BT 89.13 295.00 Td (TED ) Tj ET Q q 0 0 0 rg BT 107.58 295.00 Td (P) Tj ET Q q 0 0 0 rg BT 111.88 295.00 Td (AR) Tj ET Q q 0 0 0 rg BT 123.15 295.00 Td (TY) Tj ET Q q 0 0 0 rg BT 133.96 295.00 Td ( ) Tj ET Q q 0 0 0 rg BT 135.82 295.00 Td (TRANSACTIONS) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 279.40 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 279.40 Td (e ) Tj ET Q q 0 0 0 rg BT 62.13 279.40 Td (consider ) Tj ET Q q 0 0 0 rg BT 91.39 279.40 Td (our ) Tj ET Q q 0 0 0 rg BT 104.22 279.40 Td (related ) Tj ET Q q 0 0 0 rg BT 128.14 279.40 Td (parties ) Tj ET Q q 0 0 0 rg BT 151.63 279.40 Td (to ) Tj ET Q q 0 0 0 rg BT 160.02 279.40 Td (be ) Tj ET Q q 0 0 0 rg BT 169.73 279.40 Td (those ) Tj ET Q q 0 0 0 rg BT 188.79 279.40 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 231.38 279.40 Td (who ) Tj ET Q q 0 0 0 rg BT 247.32 279.40 Td (have ) Tj ET Q q 0 0 0 rg BT 264.59 279.40 Td (direct ) Tj ET Q q 0 0 0 rg BT 284.96 279.40 Td (control ) Tj ET Q q 0 0 0 rg BT 309.79 279.40 Td (and/or ) Tj ET Q q 0 0 0 rg BT 332.39 279.40 Td (influence ) Tj ET Q q 0 0 0 rg BT 364.31 279.40 Td (and ) Tj ET Q q 0 0 0 rg BT 378.03 279.40 Td (other ) Tj ET Q q 0 0 0 rg BT 396.63 279.40 Td (parties ) Tj ET Q q 0 0 0 rg BT 420.12 279.40 Td (that ) Tj ET Q q 0 0 0 rg BT 434.28 279.40 Td (can ) Tj ET Q q 0 0 0 rg BT 447.54 279.40 Td (significantly ) Tj ET Q q 0 0 0 rg BT 489.70 279.40 Td (influence ) Tj ET Q q 0 0 0 rg BT 521.63 279.40 Td (management ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 269.80 Td (as ) Tj ET Q q 0 0 0 rg BT 57.59 269.80 Td (well ) Tj ET Q q 0 0 0 rg BT 72.79 269.80 Td (as ) Tj ET Q q 0 0 0 rg BT 80.88 269.80 Td (our ) Tj ET Q q 0 0 0 rg BT 92.97 269.80 Td (of) Tj ET Q q 0 0 0 rg BT 99.49 269.80 Td (ficers ) Tj ET Q q 0 0 0 rg BT 118.68 269.80 Td (and ) Tj ET Q q 0 0 0 rg BT 131.66 269.80 Td (directors; ) Tj ET Q q 0 0 0 rg BT 163.29 269.80 Td (a ) Tj ET Q q 0 0 0 rg BT 168.27 269.80 Td (connected ) Tj ET Q q 0 0 0 rg BT 209.22 269.80 Td (party ) Tj ET Q q 0 0 0 rg BT 227.09 269.80 Td (is ) Tj ET Q q 0 0 0 rg BT 233.85 269.80 Td (one ) Tj ET Q q 0 0 0 rg BT 246.82 269.80 Td (in ) Tj ET Q q 0 0 0 rg BT 254.47 269.80 Td (relation ) Tj ET Q q 0 0 0 rg BT 280.33 269.80 Td (to ) Tj ET Q q 0 0 0 rg BT 287.98 269.80 Td (whom ) Tj ET Q q 0 0 0 rg BT 309.41 269.80 Td (we ) Tj ET Q q 0 0 0 rg BT 320.16 269.80 Td (are ) Tj ET Q q 0 0 0 rg BT 331.35 269.80 Td (aware ) Tj ET Q q 0 0 0 rg BT 351.87 269.80 Td (of ) Tj ET Q q 0 0 0 rg BT 359.96 269.80 Td (the ) Tj ET Q q 0 0 0 rg BT 371.16 269.80 Td (existence ) Tj ET Q q 0 0 0 rg BT 402.35 269.80 Td (of ) Tj ET Q q 0 0 0 rg BT 410.44 269.80 Td (a ) Tj ET Q q 0 0 0 rg BT 415.41 269.80 Td (family ) Tj ET Q q 0 0 0 rg BT 437.72 269.80 Td (or ) Tj ET Q q 0 0 0 rg BT 445.81 269.80 Td (business ) Tj ET Q q 0 0 0 rg BT 474.35 269.80 Td (connection ) Tj ET Q q 0 0 0 rg BT 510.88 269.80 Td (to ) Tj ET Q q 0 0 0 rg BT 518.52 269.80 Td (a ) Tj ET Q q 0 0 0 rg BT 523.50 269.80 Td (shareholder) Tj ET Q q 0 0 0 rg BT 560.50 269.80 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 260.20 Td (director ) Tj ET Q q 0 0 0 rg BT 76.74 260.20 Td (or ) Tj ET Q q 0 0 0 rg BT 85.77 260.20 Td (of) Tj ET Q q 0 0 0 rg BT 92.29 260.20 Td (ficer) Tj ET Q q 0 0 0 rg BT 106.50 260.20 Td (. ) Tj ET Q q 0 0 0 rg BT 110.69 260.20 Td (W) Tj ET Q q 0 0 0 rg BT 117.60 260.20 Td (e ) Tj ET Q q 0 0 0 rg BT 123.52 260.20 Td (have ) Tj ET Q q 0 0 0 rg BT 140.98 260.20 Td (identified ) Tj ET Q q 0 0 0 rg BT 174.00 260.20 Td (transactions ) Tj ET Q q 0 0 0 rg BT 214.58 260.20 Td (with ) Tj ET Q q 0 0 0 rg BT 231.17 260.20 Td (individuals ) Tj ET Q q 0 0 0 rg BT 269.08 260.20 Td (or ) Tj ET Q q 0 0 0 rg BT 278.11 260.20 Td (entities ) Tj ET Q q 0 0 0 rg BT 303.58 260.20 Td (associated ) Tj ET Q q 0 0 0 rg BT 338.82 260.20 Td (with ) Tj ET Q q 0 0 0 rg BT 355.24 260.20 Td (T) Tj ET Q q 0 0 0 rg BT 359.84 260.20 Td (ime ) Tj ET Q q 0 0 0 rg BT 374.03 260.20 Td (W) Tj ET Q q 0 0 0 rg BT 380.94 260.20 Td (arner) Tj ET Q q 0 0 0 rg BT 397.05 260.20 Td (, ) Tj ET Q q 0 0 0 rg BT 401.42 260.20 Td (who ) Tj ET Q q 0 0 0 rg BT 417.56 260.20 Td (is ) Tj ET Q q 0 0 0 rg BT 425.26 260.20 Td (represented ) Tj ET Q q 0 0 0 rg BT 464.49 260.20 Td (on ) Tj ET Q q 0 0 0 rg BT 474.85 260.20 Td (our ) Tj ET Q q 0 0 0 rg BT 487.88 260.20 Td (Board ) Tj ET Q q 0 0 0 rg BT 509.80 260.20 Td (of ) Tj ET Q q 0 0 0 rg BT 518.83 260.20 Td (Directors ) Tj ET Q q 0 0 0 rg BT 550.96 260.20 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 250.60 Td (holds ) Tj ET Q q 0 0 0 rg BT 68.84 250.60 Td (a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 74.39 250.60 Td (49.6%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 95.05 250.60 Td ( ) Tj ET Q q 0 0 0 rg BT 97.05 250.60 Td (voting ) Tj ET Q q 0 0 0 rg BT 119.50 250.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 145.04 250.60 Td (in ) Tj ET Q q 0 0 0 rg BT 153.27 250.60 Td (CME ) Tj ET Q q 0 0 0 rg BT 172.60 250.60 Td (Ltd. ) Tj ET Q q 0 0 0 rg BT 187.71 250.60 Td (as ) Tj ET Q q 0 0 0 rg BT 196.38 250.60 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 204.15 250.60 Td (December31, ) Tj ET Q q 0 0 0 rg BT 251.02 250.60 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.02 250.60 Td (, ) Tj ET Q q 0 0 0 rg BT 271.02 250.60 Td (as ) Tj ET Q q 0 0 0 rg BT 279.68 250.60 Td (material ) Tj ET Q q 0 0 0 rg BT 307.89 250.60 Td (related ) Tj ET Q q 0 0 0 rg BT 331.65 250.60 Td (party ) Tj ET Q q 0 0 0 rg BT 350.09 250.60 Td (transactions.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 214.10 331.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 214.10 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 214.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 214.10 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 214.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 214.10 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 188.10 331.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 188.10 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 188.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 188.10 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 188.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 188.10 58.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 381 227.10000000000002 m 439 227.10000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 439 227.10000000000002 m 443 227.10000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 443 227.10000000000002 m 501 227.10000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 501 227.10000000000002 m 505 227.10000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 505 227.10000000000002 m 563 227.10000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 381 214.10000000000002 m 439 214.10000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 443 214.10000000000002 m 501 214.10000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 505 214.10000000000002 m 563 214.10000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 443 214.10000000000002 m 501 214.10000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 505 214.10000000000002 m 563 214.10000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 411.25 231.33 Td (For The Year Ending December 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 218.35 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 419.50 218.33 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 481.50 218.33 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 543.50 218.33 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 205.35 Td (Purchases ) Tj ET Q q 0 0 0 rg BT 86.49 205.35 Td (of ) Tj ET Q q 0 0 0 rg BT 95.16 205.35 Td (programming) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 383.50 205.35 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.80 205.35 Td (20,713) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 445.50 205.35 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.80 205.35 Td (58,636) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 507.50 205.35 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.80 205.35 Td (39,405) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 192.35 Td (Sales) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.80 192.35 Td (59) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 485.80 192.35 Td (119) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.80 192.35 Td (177) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 179.35 Td (Interest ) Tj ET Q q 0 0 0 rg BT 78.49 179.35 Td (expense) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.80 179.35 Td (61,887) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.80 179.35 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.80 179.35 Td () Tj ET Q BT /F1 8.00 Tf ET endstream endobj 167 0 obj <>] /Rotate 0 /Contents 168 0 R>> endobj 168 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (81) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 715.50 333.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.00 715.50 88.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 715.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.00 715.50 88.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 689.50 333.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.00 689.50 88.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 689.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.00 689.50 88.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 663.50 333.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.00 663.50 88.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 663.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.00 663.50 88.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 383 715.5 m 471 715.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 475 715.5 m 563 715.5 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 719.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 403.00 719.73 Td (December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 495.00 719.73 Td (December 31, 2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 706.75 Td (Programming liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 706.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 445.80 706.75 Td (24,980) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.50 706.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.80 706.75 Td (70,184) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 693.75 Td (Other accounts payable and accrued liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.80 693.75 Td (150) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.80 693.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 680.75 Td (Accounts receivable, gross) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.80 680.75 Td (197) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.80 680.75 Td (168) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 667.75 Td (Long-term debt and other financing arrangements ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 213.77 671.38 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 441.80 667.75 Td (269,862) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.80 667.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 654.75 Td (Accrued interest payable ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 134.02 658.38 Td (\(2\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.80 654.75 Td (4,763) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.80 654.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 641.75 Td (Other non-current liabilities) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 141.80 645.38 Td ( \(3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 445.80 641.75 Td (10,299) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.80 641.75 Td () Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 625.40 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 67.50 625.40 Td (Amount ) Tj ET Q q 0 0 0 rg BT 95.67 625.40 Td (represents ) Tj ET Q q 0 0 0 rg BT 130.04 625.40 Td (the ) Tj ET Q q 0 0 0 rg BT 141.76 625.40 Td (principal ) Tj ET Q q 0 0 0 rg BT 172.13 625.40 Td (amount ) Tj ET Q q 0 0 0 rg BT 198.07 625.40 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 237.35 625.40 Td (of ) Tj ET Q q 0 0 0 rg BT 245.96 625.40 Td (the ) Tj ET Q q 0 0 0 rg BT 257.67 625.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 275.62 625.40 Td (PIK ) Tj ET Q q 0 0 0 rg BT 290.45 625.40 Td (Notes ) Tj ET Q q 0 0 0 rg BT 311.06 625.40 Td (held ) Tj ET Q q 0 0 0 rg BT 326.77 625.40 Td (by ) Tj ET Q q 0 0 0 rg BT 336.58 625.40 Td (T) Tj ET Q q 0 0 0 rg BT 341.18 625.40 Td (ime ) Tj ET Q q 0 0 0 rg BT 354.98 625.40 Td (W) Tj ET Q q 0 0 0 rg BT 361.89 625.40 Td (arner ) Tj ET Q q 0 0 0 rg BT 380.26 625.40 Td (and ) Tj ET Q q 0 0 0 rg BT 393.76 625.40 Td (the ) Tj ET Q q 0 0 0 rg BT 405.47 625.40 Td (amounts ) Tj ET Q q 0 0 0 rg BT 434.53 625.40 Td (drawn ) Tj ET Q q 0 0 0 rg BT 456.46 625.40 Td (on ) Tj ET Q q 0 0 0 rg BT 466.41 625.40 Td (the ) Tj ET Q q 0 0 0 rg BT 478.12 625.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 495.93 625.40 Td (T) Tj ET Q q 0 0 0 rg BT 500.25 625.40 Td (erm ) Tj ET Q q 0 0 0 rg BT 514.63 625.40 Td (Loan ) Tj ET Q q 0 0 0 rg BT 533.02 625.40 Td (and ) Tj ET Q q 0 0 0 rg BT 546.51 625.40 Td (2017 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 615.80 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 102.83 615.80 Td (Credit ) Tj ET Q q 0 0 0 rg BT 124.83 615.80 Td (Facility) Tj ET Q q 0 0 0 rg BT 148.75 615.80 Td (, ) Tj ET Q q 0 0 0 rg BT 152.75 615.80 Td (less ) Tj ET Q q 0 0 0 rg BT 166.75 615.80 Td (respective ) Tj ET Q q 0 0 0 rg BT 201.18 615.80 Td (issuance ) Tj ET Q q 0 0 0 rg BT 230.28 615.80 Td (discounts, ) Tj ET Q q 0 0 0 rg BT 264.50 615.80 Td (plus ) Tj ET Q q 0 0 0 rg BT 279.84 615.80 Td (interest ) Tj ET Q q 0 0 0 rg BT 305.38 615.80 Td (for ) Tj ET Q q 0 0 0 rg BT 316.71 615.80 Td (which ) Tj ET Q q 0 0 0 rg BT 338.26 615.80 Td (we ) Tj ET Q q 0 0 0 rg BT 349.59 615.80 Td (made ) Tj ET Q q 0 0 0 rg BT 368.91 615.80 Td (an ) Tj ET Q q 0 0 0 rg BT 378.46 615.80 Td (election ) Tj ET Q q 0 0 0 rg BT 405.79 615.80 Td (to ) Tj ET Q q 0 0 0 rg BT 414.01 615.80 Td (pay ) Tj ET Q q 0 0 0 rg BT 427.56 615.80 Td (in ) Tj ET Q q 0 0 0 rg BT 435.78 615.80 Td (kind.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 603.25 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 67.50 603.25 Td (Amount ) Tj ET Q q 0 0 0 rg BT 95.54 603.25 Td (represents ) Tj ET Q q 0 0 0 rg BT 129.78 603.25 Td (the ) Tj ET Q q 0 0 0 rg BT 141.36 603.25 Td (accrued ) Tj ET Q q 0 0 0 rg BT 168.04 603.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 193.40 603.25 Td (on ) Tj ET Q q 0 0 0 rg BT 203.21 603.25 Td (the ) Tj ET Q q 0 0 0 rg BT 214.80 603.25 Td (principal ) Tj ET Q q 0 0 0 rg BT 245.05 603.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 270.86 603.25 Td (of ) Tj ET Q q 0 0 0 rg BT 279.33 603.25 Td (the ) Tj ET Q q 0 0 0 rg BT 290.92 603.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 330.06 603.25 Td (2017 ) Tj ET Q q 0 0 0 rg BT 347.88 603.25 Td (PIK ) Tj ET Q q 0 0 0 rg BT 362.58 603.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 383.05 603.25 Td (held ) Tj ET Q q 0 0 0 rg BT 398.64 603.25 Td (by ) Tj ET Q q 0 0 0 rg BT 408.32 603.25 Td (T) Tj ET Q q 0 0 0 rg BT 412.93 603.25 Td (ime ) Tj ET Q q 0 0 0 rg BT 426.61 603.25 Td (W) Tj ET Q q 0 0 0 rg BT 433.52 603.25 Td (arner) Tj ET Q q 0 0 0 rg BT 449.63 603.25 Td (, ) Tj ET Q q 0 0 0 rg BT 453.44 603.25 Td (which ) Tj ET Q q 0 0 0 rg BT 474.80 603.25 Td (is ) Tj ET Q q 0 0 0 rg BT 481.95 603.25 Td (payable ) Tj ET Q q 0 0 0 rg BT 508.64 603.25 Td (in ) Tj ET Q q 0 0 0 rg BT 516.67 603.25 Td (kind ) Tj ET Q q 0 0 0 rg BT 532.71 603.25 Td (in ) Tj ET Q q 0 0 0 rg BT 540.74 603.25 Td (arrears ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 593.65 Td (until ) Tj ET Q q 0 0 0 rg BT 84.17 593.65 Td (November ) Tj ET Q q 0 0 0 rg BT 119.93 593.65 Td (15, ) Tj ET Q q 0 0 0 rg BT 131.93 593.65 Td (2015, ) Tj ET Q q 0 0 0 rg BT 151.93 593.65 Td (and ) Tj ET Q q 0 0 0 rg BT 165.48 593.65 Td (on ) Tj ET Q q 0 0 0 rg BT 175.48 593.65 Td (the ) Tj ET Q q 0 0 0 rg BT 187.26 593.65 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 226.59 593.65 Td (balance ) Tj ET Q q 0 0 0 rg BT 253.02 593.65 Td (of ) Tj ET Q q 0 0 0 rg BT 261.68 593.65 Td (the ) Tj ET Q q 0 0 0 rg BT 273.45 593.65 Td (2017 ) Tj ET Q q 0 0 0 rg BT 291.31 593.65 Td (T) Tj ET Q q 0 0 0 rg BT 295.64 593.65 Td (erm ) Tj ET Q q 0 0 0 rg BT 310.07 593.65 Td (Loan ) Tj ET Q q 0 0 0 rg BT 328.51 593.65 Td (and ) Tj ET Q q 0 0 0 rg BT 342.06 593.65 Td (the ) Tj ET Q q 0 0 0 rg BT 353.84 593.65 Td (2017 ) Tj ET Q q 0 0 0 rg BT 371.84 593.65 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 407.17 593.65 Td (Credit ) Tj ET Q q 0 0 0 rg BT 429.16 593.65 Td (Facility) Tj ET Q q 0 0 0 rg BT 453.09 593.65 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 581.05 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 67.50 581.05 Td (Amount ) Tj ET Q q 0 0 0 rg BT 96.18 581.05 Td (represents ) Tj ET Q q 0 0 0 rg BT 131.06 581.05 Td (the ) Tj ET Q q 0 0 0 rg BT 143.29 581.05 Td (commitment ) Tj ET Q q 0 0 0 rg BT 186.18 581.05 Td (fee ) Tj ET Q q 0 0 0 rg BT 198.40 581.05 Td (payable ) Tj ET Q q 0 0 0 rg BT 225.73 581.05 Td (to ) Tj ET Q q 0 0 0 rg BT 234.23 581.05 Td (T) Tj ET Q q 0 0 0 rg BT 238.83 581.05 Td (ime ) Tj ET Q q 0 0 0 rg BT 253.11 581.05 Td (W) Tj ET Q q 0 0 0 rg BT 260.02 581.05 Td (arner ) Tj ET Q q 0 0 0 rg BT 278.90 581.05 Td (in ) Tj ET Q q 0 0 0 rg BT 287.58 581.05 Td (connection ) Tj ET Q q 0 0 0 rg BT 325.13 581.05 Td (with ) Tj ET Q q 0 0 0 rg BT 341.81 581.05 Td (their ) Tj ET Q q 0 0 0 rg BT 358.92 581.05 Td (agreement ) Tj ET Q q 0 0 0 rg BT 394.69 581.05 Td (to ) Tj ET Q q 0 0 0 rg BT 403.36 581.05 Td (provide ) Tj ET Q q 0 0 0 rg BT 430.25 581.05 Td (or ) Tj ET Q q 0 0 0 rg BT 439.37 581.05 Td (assist ) Tj ET Q q 0 0 0 rg BT 459.16 581.05 Td (with ) Tj ET Q q 0 0 0 rg BT 475.84 581.05 Td (arranging ) Tj ET Q q 0 0 0 rg BT 508.95 581.05 Td (a ) Tj ET Q q 0 0 0 rg BT 514.95 581.05 Td (loan ) Tj ET Q q 0 0 0 rg BT 531.18 581.05 Td (facility ) Tj ET Q q 0 0 0 rg BT 556.29 581.05 Td (to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 571.45 Td (refinance ) Tj ET Q q 0 0 0 rg BT 99.56 571.45 Td (the ) Tj ET Q q 0 0 0 rg BT 111.63 571.45 Td (2015 ) Tj ET Q q 0 0 0 rg BT 129.93 571.45 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 170.00 571.45 Td (Notes ) Tj ET Q q 0 0 0 rg BT 190.97 571.45 Td (at ) Tj ET Q q 0 0 0 rg BT 199.04 571.45 Td (or ) Tj ET Q q 0 0 0 rg BT 208.01 571.45 Td (immediately ) Tj ET Q q 0 0 0 rg BT 250.30 571.45 Td (prior ) Tj ET Q q 0 0 0 rg BT 268.15 571.45 Td (to ) Tj ET Q q 0 0 0 rg BT 276.68 571.45 Td (their ) Tj ET Q q 0 0 0 rg BT 293.64 571.45 Td (maturity ) Tj ET Q q 0 0 0 rg BT 323.05 571.45 Td (in ) Tj ET Q q 0 0 0 rg BT 331.57 571.45 Td (November ) Tj ET Q q 0 0 0 rg BT 367.64 571.45 Td (2015, ) Tj ET Q q 0 0 0 rg BT 387.94 571.45 Td (as ) Tj ET Q q 0 0 0 rg BT 396.91 571.45 Td (well ) Tj ET Q q 0 0 0 rg BT 412.98 571.45 Td (as ) Tj ET Q q 0 0 0 rg BT 421.95 571.45 Td (the ) Tj ET Q q 0 0 0 rg BT 434.02 571.45 Td (accrued ) Tj ET Q q 0 0 0 rg BT 461.19 571.45 Td (fee ) Tj ET Q q 0 0 0 rg BT 473.26 571.45 Td (payable ) Tj ET Q q 0 0 0 rg BT 500.44 571.45 Td (to ) Tj ET Q q 0 0 0 rg BT 508.79 571.45 Td (T) Tj ET Q q 0 0 0 rg BT 513.40 571.45 Td (ime ) Tj ET Q q 0 0 0 rg BT 527.53 571.45 Td (W) Tj ET Q q 0 0 0 rg BT 534.44 571.45 Td (arner ) Tj ET Q q 0 0 0 rg BT 553.17 571.45 Td (for ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 561.85 Td (guaranteeing ) Tj ET Q q 0 0 0 rg BT 110.81 561.85 Td (the ) Tj ET Q q 0 0 0 rg BT 122.59 561.85 Td (2017 ) Tj ET Q q 0 0 0 rg BT 140.59 561.85 Td (Euro ) Tj ET Q q 0 0 0 rg BT 157.99 561.85 Td (T) Tj ET Q q 0 0 0 rg BT 162.32 561.85 Td (erm ) Tj ET Q q 0 0 0 rg BT 176.76 561.85 Td (Loan.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 549.25 Td (In ) Tj ET Q q 0 0 0 rg BT 58.14 549.25 Td (addition, ) Tj ET Q q 0 0 0 rg BT 88.19 549.25 Td (T) Tj ET Q q 0 0 0 rg BT 92.80 549.25 Td (ime ) Tj ET Q q 0 0 0 rg BT 106.63 549.25 Td (W) Tj ET Q q 0 0 0 rg BT 113.54 549.25 Td (arner ) Tj ET Q q 0 0 0 rg BT 131.94 549.25 Td (is ) Tj ET Q q 0 0 0 rg BT 139.26 549.25 Td (a ) Tj ET Q q 0 0 0 rg BT 144.78 549.25 Td (guarantor ) Tj ET Q q 0 0 0 rg BT 177.41 549.25 Td (of ) Tj ET Q q 0 0 0 rg BT 186.05 549.25 Td (our ) Tj ET Q q 0 0 0 rg BT 198.69 549.25 Td (2017 ) Tj ET Q q 0 0 0 rg BT 216.67 549.25 Td (Euro ) Tj ET Q q 0 0 0 rg BT 234.06 549.25 Td (T) Tj ET Q q 0 0 0 rg BT 238.38 549.25 Td (erm ) Tj ET Q q 0 0 0 rg BT 252.80 549.25 Td (Loan ) Tj ET Q q 0 0 0 rg BT 271.21 549.25 Td (and ) Tj ET Q q 0 0 0 rg BT 284.74 549.25 Td (has ) Tj ET Q q 0 0 0 rg BT 297.38 549.25 Td (agreed ) Tj ET Q q 0 0 0 rg BT 320.67 549.25 Td (to ) Tj ET Q q 0 0 0 rg BT 328.87 549.25 Td (assist ) Tj ET Q q 0 0 0 rg BT 348.18 549.25 Td (in ) Tj ET Q q 0 0 0 rg BT 356.38 549.25 Td (arranging ) Tj ET Q q 0 0 0 rg BT 389.01 549.25 Td (or ) Tj ET Q q 0 0 0 rg BT 397.65 549.25 Td (to ) Tj ET Q q 0 0 0 rg BT 405.85 549.25 Td (provide ) Tj ET Q q 0 0 0 rg BT 432.27 549.25 Td (a ) Tj ET Q q 0 0 0 rg BT 437.79 549.25 Td (term ) Tj ET Q q 0 0 0 rg BT 454.43 549.25 Td (loan ) Tj ET Q q 0 0 0 rg BT 470.18 549.25 Td (facility ) Tj ET Q q 0 0 0 rg BT 494.81 549.25 Td (to ) Tj ET Q q 0 0 0 rg BT 503.01 549.25 Td (refinance ) Tj ET Q q 0 0 0 rg BT 534.74 549.25 Td (the ) Tj ET Q q 0 0 0 rg BT 546.49 549.25 Td (2015 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 539.65 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 89.27 539.65 Td (Notes ) Tj ET Q q 0 0 0 rg BT 109.93 539.65 Td (at ) Tj ET Q q 0 0 0 rg BT 117.71 539.65 Td (their ) Tj ET Q q 0 0 0 rg BT 134.37 539.65 Td (maturity ) Tj ET Q q 0 0 0 rg BT 163.47 539.65 Td (in ) Tj ET Q q 0 0 0 rg BT 171.70 539.65 Td (November ) Tj ET Q q 0 0 0 rg BT 207.46 539.65 Td (2015. ) Tj ET Q q 0 0 0 rg BT 227.46 539.65 Td (See ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.01 539.65 Td (Note ) Tj ET Q q 0 0 0 rg BT 258.56 539.65 Td (5, ) Tj ET Q q 0 0 0 rg BT 266.56 539.65 Td ("Long-term ) Tj ET Q q 0 0 0 rg BT 306.04 539.65 Td (Debt ) Tj ET Q q 0 0 0 rg BT 323.59 539.65 Td (and ) Tj ET Q q 0 0 0 rg BT 337.14 539.65 Td (Other ) Tj ET Q q 0 0 0 rg BT 357.36 539.65 Td (Financing ) Tj ET Q q 0 0 0 rg BT 390.91 539.65 Td (Arrangements") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.49 539.65 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 518.00 Td (23. ) Tj ET Q q 0 0 0 rg BT 67.50 518.00 Td (QUAR) Tj ET Q q 0 0 0 rg BT 90.77 518.00 Td (TERL) Tj ET Q q 0 0 0 rg BT 111.82 518.00 Td (Y) Tj ET Q q 0 0 0 rg BT 117.30 518.00 Td ( ) Tj ET Q q 0 0 0 rg BT 119.30 518.00 Td (FINANCIAL) Tj ET Q q 0 0 0 rg BT 164.20 518.00 Td ( ) Tj ET Q q 0 0 0 rg BT 166.20 518.00 Td (DA) Tj ET Q q 0 0 0 rg BT 177.16 518.00 Td (T) Tj ET Q q 0 0 0 rg BT 181.90 518.00 Td (A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 502.40 Td (Selected ) Tj ET Q q 0 0 0 rg BT 78.60 502.40 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 109.47 502.40 Td (financial ) Tj ET Q q 0 0 0 rg BT 139.46 502.40 Td (data ) Tj ET Q q 0 0 0 rg BT 154.78 502.40 Td (for ) Tj ET Q q 0 0 0 rg BT 166.11 502.40 Td (the ) Tj ET Q q 0 0 0 rg BT 177.88 502.40 Td (years ) Tj ET Q q 0 0 0 rg BT 196.76 502.40 Td (ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 217.86 502.40 Td (December31, ) Tj ET Q q 0 0 0 rg BT 264.73 502.40 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.73 502.40 Td ( ) Tj ET Q q 0 0 0 rg BT 282.73 502.40 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.28 502.40 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.28 502.40 Td ( ) Tj ET Q q 0 0 0 rg BT 314.28 502.40 Td (is ) Tj ET Q q 0 0 0 rg BT 321.62 502.40 Td (as ) Tj ET Q q 0 0 0 rg BT 330.28 502.40 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 436.90 244.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.50 436.90 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 436.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 436.90 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 436.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 436.90 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 436.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 436.90 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 406.90 244.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.50 406.90 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 406.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 406.90 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 406.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 406.90 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 406.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 406.90 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 376.90 244.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.50 376.90 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 376.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 376.90 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 376.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 376.90 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 376.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 376.90 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 346.90 244.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.50 346.90 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 346.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 346.90 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 346.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 346.90 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 346.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 346.90 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 306.90 244.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.50 306.90 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 306.90 4.00 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gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 478.9 m 357.5 478.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 478.9 m 361.5 478.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 478.9 m 425.5 478.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 478.9 m 429.5 478.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 478.9 m 493.5 478.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 478.9 m 497.5 478.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 478.9 m 561.5 478.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 457.9 m 357.5 457.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 457.9 m 425.5 457.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 457.9 m 493.5 457.9 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 457.9 m 561.5 457.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 276.9 m 561.5 276.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 276.9 m 357.5 276.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 262.9 m 357.5 262.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 260.9 m 357.5 260.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 276.9 m 425.5 276.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 262.9 m 425.5 262.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 260.9 m 425.5 260.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 276.9 m 493.5 276.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 262.9 m 493.5 262.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 260.9 m 493.5 260.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 276.9 m 561.5 276.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 262.9 m 561.5 262.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 260.9 m 561.5 260.9 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.35 483.13 Td (For the Year Ended December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 301.85 470.13 Td (First Quarter) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 304.30 462.13 Td (\(Unaudited\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.85 470.13 Td (Second Quarter) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 372.30 462.13 Td (\(Unaudited\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.05 470.13 Td (Third Quarter) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.30 462.13 Td (\(Unaudited\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 502.05 470.13 Td (Fourth Quarter) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 508.30 462.13 Td (\(Unaudited\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 449.13 Td (Consolidated Statements of Operations and Comprehensive Income) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 441.13 Td (Data:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 426.15 Td (Net revenues) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.00 426.15 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.30 426.15 Td (140,705) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 364.00 426.15 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.30 426.15 Td (192,811) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.00 426.15 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.30 426.15 Td (131,081) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.00 426.15 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 426.15 Td (216,196) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 411.15 Td (Cost of revenues) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.30 411.15 Td (119,579) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.30 411.15 Td (125,514) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.30 411.15 Td (105,823) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 411.15 Td (138,125) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 396.15 Td (Operating \(loss\) / income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 329.60 396.15 Td (\(14,682) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 396.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.30 396.15 Td (22,687) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.60 396.15 Td (\(8,024) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.30 396.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 396.15 Td (38,299) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 381.15 Td (Loss from continuing operations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 329.60 381.15 Td (\(40,723) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 381.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.60 381.15 Td (\(41,621) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.30 381.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.60 381.15 Td (\(51,278) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.30 381.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 381.15 Td (\(17,843) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 381.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 366.15 Td (Loss from discontinued operations, net of tax) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.60 366.15 Td (\(7,910) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 366.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.60 366.15 Td (\(10,886) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.30 366.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.60 366.15 Td (\(1,204) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.30 366.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 366.15 Td (\(60,431) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 366.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 351.15 Td (Net loss) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 329.60 351.15 Td (\(48,633) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 351.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.60 351.15 Td (\(52,507) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.30 351.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.60 351.15 Td (\(52,482) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.30 351.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 351.15 Td (\(78,274) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 351.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 336.15 Td (Net loss attributable to CME Ltd.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 329.60 336.15 Td (\(47,916) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 336.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.60 336.15 Td (\(52,438) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.30 336.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.60 336.15 Td (\(52,138) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.30 336.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 336.15 Td (\(74,936) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 336.15 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 311.13 Td (Net loss per share:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 296.15 Td (Basic EPS) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.00 296.15 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.60 296.15 Td (\(0.35) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 296.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 364.00 296.15 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.60 296.15 Td (\(0.39) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.30 296.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.00 296.15 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.60 296.15 Td (\(0.38) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.30 296.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.00 296.15 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.60 296.15 Td (\(0.54) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 296.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 281.15 Td (Effect of dilutive securities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 346.30 281.15 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 414.30 281.15 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.30 281.15 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.30 281.15 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 266.15 Td (Diluted EPS) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.00 266.15 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.60 266.15 Td (\(0.35) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 266.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 364.00 266.15 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.60 266.15 Td (\(0.39) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.30 266.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.00 266.15 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.60 266.15 Td (\(0.38) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.30 266.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.00 266.15 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.60 266.15 Td (\(0.54) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 266.15 Td (\)) Tj ET Q BT /F1 8.00 Tf ET endstream endobj 169 0 obj <>] /Rotate 0 /Contents 170 0 R>> endobj 170 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (82) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 673.50 244.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.50 673.50 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 673.50 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0.9333333333333333 1 rg /GS0 gs 357.50 513.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 513.50 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 513.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 513.50 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 513.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 513.50 64.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 715.5 m 357.5 715.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 715.5 m 361.5 715.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 715.5 m 425.5 715.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 715.5 m 429.5 715.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 715.5 m 493.5 715.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 715.5 m 497.5 715.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 715.5 m 561.5 715.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 694.5 m 357.5 694.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 694.5 m 425.5 694.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 694.5 m 493.5 694.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 694.5 m 561.5 694.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 513.5 m 357.5 513.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 499.5 m 357.5 499.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 497.5 m 357.5 497.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 513.5 m 425.5 513.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 499.5 m 425.5 499.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 497.5 m 425.5 497.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 513.5 m 493.5 513.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 499.5 m 493.5 499.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 497.5 m 493.5 497.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 513.5 m 561.5 513.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 499.5 m 561.5 499.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 497.5 m 561.5 497.5 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.35 719.73 Td (For the Year Ended December 31, 2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 301.85 706.73 Td (First Quarter) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 304.30 698.73 Td (\(Unaudited\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.85 706.73 Td (Second Quarter) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 372.30 698.73 Td (\(Unaudited\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.05 706.73 Td (Third Quarter) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.30 698.73 Td (\(Unaudited\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 502.05 706.73 Td (Fourth Quarter) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 508.30 698.73 Td (\(Unaudited\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 685.73 Td (Consolidated Statements of Operations and Comprehensive Income) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 677.73 Td (Data:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 662.75 Td (Net revenues) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.00 662.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.30 662.75 Td (124,119) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 364.00 662.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.30 662.75 Td (166,689) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.00 662.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.30 662.75 Td (123,018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.00 662.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 662.75 Td (219,308) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 647.75 Td (Cost of revenues) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.30 647.75 Td (127,158) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.30 647.75 Td (134,497) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.30 647.75 Td (127,374) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 647.75 Td (189,541) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 632.75 Td (Operating loss) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 329.60 632.75 Td (\(33,783) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 632.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.60 632.75 Td (\(4,759) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.30 632.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.60 632.75 Td (\(44,496) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.30 632.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 632.75 Td (\(96,979) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 632.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 617.75 Td (Loss from continuing operations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.60 617.75 Td (\(107,381) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 617.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.60 617.75 Td (\(40,373) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.30 617.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.60 617.75 Td (\(21,893) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.30 617.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.60 617.75 Td (\(106,787) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 617.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 602.75 Td (Loss from discontinued operations, net of tax) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.60 602.75 Td (\(1,581) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 602.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.60 602.75 Td (\(715) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.30 602.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.60 602.75 Td (\(1,381) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.30 602.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.60 602.75 Td (\(1,422) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 602.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 587.75 Td (Net loss) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.60 587.75 Td (\(108,962) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 587.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.60 587.75 Td (\(41,088) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.30 587.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.60 587.75 Td (\(23,274) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.30 587.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.60 587.75 Td (\(108,209) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 587.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 572.75 Td (Net loss attributable to CME Ltd.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.60 572.75 Td (\(108,280) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 572.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.60 572.75 Td (\(40,957) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.30 572.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.60 572.75 Td (\(23,091) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.30 572.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.60 572.75 Td (\(105,323) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 572.75 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 547.73 Td (Net loss per share:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 532.75 Td (Basic EPS) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.00 532.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.60 532.75 Td (\(1.22) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 532.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 364.00 532.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.60 532.75 Td (\(0.34) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.30 532.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.00 532.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.60 532.75 Td (\(0.18) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.30 532.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.00 532.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.60 532.75 Td (\(0.75) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 532.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 517.75 Td (Effect of dilutive securities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 346.30 517.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 414.30 517.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.30 517.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.30 517.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 502.75 Td (Diluted EPS) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.00 502.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.60 502.75 Td (\(1.22) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 502.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 364.00 502.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.60 502.75 Td (\(0.34) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.30 502.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.00 502.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.60 502.75 Td (\(0.18) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.30 502.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.00 502.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.60 502.75 Td (\(0.75) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 502.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 477.40 Td (24. ) Tj ET Q q 0 0 0 rg BT 67.50 477.40 Td (GUARANT) Tj ET Q q 0 0 0 rg BT 107.80 477.40 Td (OR ) Tj ET Q q 0 0 0 rg BT 121.36 477.40 Td (AND ) Tj ET Q q 0 0 0 rg BT 140.69 477.40 Td (NON-GUARANT) Tj ET Q q 0 0 0 rg BT 201.43 477.40 Td (OR ) Tj ET Q q 0 0 0 rg BT 215.43 477.40 Td (FINANCIAL) Tj ET Q q 0 0 0 rg BT 260.33 477.40 Td ( ) Tj ET Q q 0 0 0 rg BT 262.33 477.40 Td (INFORMA) Tj ET Q q 0 0 0 rg BT 300.84 477.40 Td (TION) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 461.80 Td (As ) Tj ET Q q 0 0 0 rg BT 60.49 461.80 Td (discussed ) Tj ET Q q 0 0 0 rg BT 93.25 461.80 Td (in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 101.57 461.80 Td (Note ) Tj ET Q q 0 0 0 rg BT 119.21 461.80 Td (5, ) Tj ET Q q 0 0 0 rg BT 127.31 461.80 Td ("Long-term ) Tj ET Q q 0 0 0 rg BT 166.88 461.80 Td (Debt ) Tj ET Q q 0 0 0 rg BT 184.53 461.80 Td (and ) Tj ET Q q 0 0 0 rg BT 198.18 461.80 Td (Other ) Tj ET Q q 0 0 0 rg BT 218.49 461.80 Td (Financing ) Tj ET Q q 0 0 0 rg BT 252.12 461.80 Td (Arrangements") Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 300.70 461.80 Td (, ) Tj ET Q q 0 0 0 rg BT 304.80 461.80 Td (our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 317.56 461.80 Td (100%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 336.22 461.80 Td ( ) Tj ET Q q 0 0 0 rg BT 338.32 461.80 Td (owned ) Tj ET Q q 0 0 0 rg BT 361.75 461.80 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 403.62 461.80 Td (Central ) Tj ET Q q 0 0 0 rg BT 429.26 461.80 Td (European ) Tj ET Q q 0 0 0 rg BT 462.01 461.80 Td (Media ) Tj ET Q q 0 0 0 rg BT 484.54 461.80 Td (Enterprises ) Tj ET Q q 0 0 0 rg BT 522.63 461.80 Td (N.V) Tj ET Q q 0 0 0 rg BT 535.15 461.80 Td (. ) Tj ET Q q 0 0 0 rg BT 539.25 461.80 Td (\("CME ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 452.20 Td (NV"\) ) Tj ET Q q 0 0 0 rg BT 69.31 452.20 Td (and ) Tj ET Q q 0 0 0 rg BT 83.19 452.20 Td (CME ) Tj ET Q q 0 0 0 rg BT 102.85 452.20 Td (Media ) Tj ET Q q 0 0 0 rg BT 125.61 452.20 Td (Enterprises ) Tj ET Q q 0 0 0 rg BT 163.92 452.20 Td (B.V) Tj ET Q q 0 0 0 rg BT 176.00 452.20 Td (. ) Tj ET Q q 0 0 0 rg BT 180.33 452.20 Td (\("CME ) Tj ET Q q 0 0 0 rg BT 205.92 452.20 Td (BV" ) Tj ET Q q 0 0 0 rg BT 222.63 452.20 Td (and ) Tj ET Q q 0 0 0 rg BT 236.50 452.20 Td (with ) Tj ET Q q 0 0 0 rg BT 253.05 452.20 Td (CME ) Tj ET Q q 0 0 0 rg BT 272.71 452.20 Td (NV) Tj ET Q q 0 0 0 rg BT 283.23 452.20 Td (, ) Tj ET Q q 0 0 0 rg BT 287.56 452.20 Td (the ) Tj ET Q q 0 0 0 rg BT 299.66 452.20 Td ("Guarantor ) Tj ET Q q 0 0 0 rg BT 337.68 452.20 Td (Subsidiaries"\), ) Tj ET Q q 0 0 0 rg BT 387.04 452.20 Td (have ) Tj ET Q q 0 0 0 rg BT 404.47 452.20 Td (fully ) Tj ET Q q 0 0 0 rg BT 421.90 452.20 Td (and ) Tj ET Q q 0 0 0 rg BT 435.78 452.20 Td (unconditionally ) Tj ET Q q 0 0 0 rg BT 488.32 452.20 Td (guaranteed, ) Tj ET Q q 0 0 0 rg BT 527.73 452.20 Td (jointly ) Tj ET Q q 0 0 0 rg BT 550.95 452.20 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 442.60 Td (severally) Tj ET Q q 0 0 0 rg BT 77.86 442.60 Td (, ) Tj ET Q q 0 0 0 rg BT 81.96 442.60 Td (subject ) Tj ET Q q 0 0 0 rg BT 106.73 442.60 Td (to ) Tj ET Q q 0 0 0 rg BT 115.06 442.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 138.93 442.60 Td (limits ) Tj ET Q q 0 0 0 rg BT 159.27 442.60 Td (imposed ) Tj ET Q q 0 0 0 rg BT 188.49 442.60 Td (by ) Tj ET Q q 0 0 0 rg BT 198.59 442.60 Td (local ) Tj ET Q q 0 0 0 rg BT 216.25 442.60 Td (law ) Tj ET Q q 0 0 0 rg BT 229.91 442.60 Td (\(the ) Tj ET Q q 0 0 0 rg BT 244.46 442.60 Td (Guarantees\), ) Tj ET Q q 0 0 0 rg BT 294.31 442.60 Td (on ) Tj ET Q q 0 0 0 rg BT 304.42 442.60 Td (a ) Tj ET Q q 0 0 0 rg BT 310.08 442.60 Td (senior ) Tj ET Q q 0 0 0 rg BT 331.74 442.60 Td (basis ) Tj ET Q q 0 0 0 rg BT 349.84 442.60 Td (the ) Tj ET Q q 0 0 0 rg BT 361.73 442.60 Td (2017 ) Tj ET Q q 0 0 0 rg BT 379.83 442.60 Td (PIK ) Tj ET Q q 0 0 0 rg BT 394.83 442.60 Td (Notes. ) Tj ET Q q 0 0 0 rg BT 417.45 442.60 Td (The ) Tj ET Q q 0 0 0 rg BT 432.00 442.60 Td (Guarantor ) Tj ET Q q 0 0 0 rg BT 466.54 442.60 Td (Subsidiaries ) Tj ET Q q 0 0 0 rg BT 507.76 442.60 Td (are ) Tj ET Q q 0 0 0 rg BT 519.63 442.60 Td (subject ) Tj ET Q q 0 0 0 rg BT 544.40 442.60 Td (to ) Tj ET Q q 0 0 0 rg BT 552.73 442.60 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 433.00 Td (requirements ) Tj ET Q q 0 0 0 rg BT 93.18 433.00 Td (of ) Tj ET Q q 0 0 0 rg BT 101.76 433.00 Td (Rule ) Tj ET Q q 0 0 0 rg BT 118.79 433.00 Td (3-10 ) Tj ET Q q 0 0 0 rg BT 135.37 433.00 Td (of ) Tj ET Q q 0 0 0 rg BT 143.95 433.00 Td (Regulation ) Tj ET Q q 0 0 0 rg BT 180.98 433.00 Td (S-X ) Tj ET Q q 0 0 0 rg BT 195.79 433.00 Td (regarding ) Tj ET Q q 0 0 0 rg BT 228.36 433.00 Td (financial ) Tj ET Q q 0 0 0 rg BT 258.26 433.00 Td (statements ) Tj ET Q q 0 0 0 rg BT 293.95 433.00 Td (of ) Tj ET Q q 0 0 0 rg BT 302.53 433.00 Td (guarantors ) Tj ET Q q 0 0 0 rg BT 338.21 433.00 Td (and ) Tj ET Q q 0 0 0 rg BT 351.68 433.00 Td (issuers ) Tj ET Q q 0 0 0 rg BT 375.38 433.00 Td (of ) Tj ET Q q 0 0 0 rg BT 383.96 433.00 Td (guaranteed ) Tj ET Q q 0 0 0 rg BT 420.96 433.00 Td (securities ) Tj ET Q q 0 0 0 rg BT 453.09 433.00 Td (registered ) Tj ET Q q 0 0 0 rg BT 486.55 433.00 Td (or ) Tj ET Q q 0 0 0 rg BT 495.13 433.00 Td (being ) Tj ET Q q 0 0 0 rg BT 514.82 433.00 Td (registered ) Tj ET Q q 0 0 0 rg BT 548.28 433.00 Td (with ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 423.40 Td (the ) Tj ET Q q 0 0 0 rg BT 60.29 423.40 Td (SEC. ) Tj ET Q q 0 0 0 rg BT 77.97 423.40 Td (Our ) Tj ET Q q 0 0 0 rg BT 91.43 423.40 Td (remaining ) Tj ET Q q 0 0 0 rg BT 124.88 423.40 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 163.66 423.40 Td (\(the ) Tj ET Q q 0 0 0 rg BT 177.11 423.40 Td (Non-Guarantor ) Tj ET Q q 0 0 0 rg BT 230.55 423.40 Td (Subsidiaries\) ) Tj ET Q q 0 0 0 rg BT 276.89 423.40 Td (are ) Tj ET Q q 0 0 0 rg BT 287.67 423.40 Td (presented ) Tj ET Q q 0 0 0 rg BT 319.33 423.40 Td (separately ) Tj ET Q q 0 0 0 rg BT 352.77 423.40 Td (from ) Tj ET Q q 0 0 0 rg BT 369.34 423.40 Td (CME ) Tj ET Q q 0 0 0 rg BT 387.69 423.40 Td (Ltd. ) Tj ET Q q 0 0 0 rg BT 401.81 423.40 Td (\(the ) Tj ET Q q 0 0 0 rg BT 415.26 423.40 Td (Parent ) Tj ET Q q 0 0 0 rg BT 440.26 423.40 Td (Issuer\) ) Tj ET Q q 0 0 0 rg BT 466.60 423.40 Td (and ) Tj ET Q q 0 0 0 rg BT 479.16 423.40 Td (the ) Tj ET Q q 0 0 0 rg BT 489.95 423.40 Td (Guarantor ) Tj ET Q q 0 0 0 rg BT 523.39 423.40 Td (Subsidiaries ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 413.80 Td (in ) Tj ET Q q 0 0 0 rg BT 57.72 413.80 Td (the ) Tj ET Q q 0 0 0 rg BT 69.50 413.80 Td (condensed ) Tj ET Q q 0 0 0 rg BT 105.26 413.80 Td (consolidating ) Tj ET Q q 0 0 0 rg BT 150.37 413.80 Td (financial ) Tj ET Q q 0 0 0 rg BT 180.35 413.80 Td (statements ) Tj ET Q q 0 0 0 rg BT 216.12 413.80 Td (presented ) Tj ET Q q 0 0 0 rg BT 248.77 413.80 Td (below) Tj ET Q q 0 0 0 rg BT 267.80 413.80 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 398.20 Td (The ) Tj ET Q q 0 0 0 rg BT 64.49 398.20 Td (Guarantees ) Tj ET Q q 0 0 0 rg BT 103.03 398.20 Td (are ) Tj ET Q q 0 0 0 rg BT 115.35 398.20 Td (senior ) Tj ET Q q 0 0 0 rg BT 137.45 398.20 Td (obligations ) Tj ET Q q 0 0 0 rg BT 175.56 398.20 Td (of ) Tj ET Q q 0 0 0 rg BT 184.78 398.20 Td (the ) Tj ET Q q 0 0 0 rg BT 197.11 398.20 Td (Guarantors ) Tj ET Q q 0 0 0 rg BT 235.21 398.20 Td (and ) Tj ET Q q 0 0 0 rg BT 249.31 398.20 Td (rank ) Tj ET Q q 0 0 0 rg BT 266.08 398.20 Td (equal ) Tj ET Q q 0 0 0 rg BT 285.96 398.20 Td (in ) Tj ET Q q 0 0 0 rg BT 294.74 398.20 Td (right ) Tj ET Q q 0 0 0 rg BT 312.40 398.20 Td (of ) Tj ET Q q 0 0 0 rg BT 321.62 398.20 Td (payment ) Tj ET Q q 0 0 0 rg BT 351.72 398.20 Td (with ) Tj ET Q q 0 0 0 rg BT 368.50 398.20 Td (all ) Tj ET Q q 0 0 0 rg BT 379.05 398.20 Td (of ) Tj ET Q q 0 0 0 rg BT 388.27 398.20 Td (the ) Tj ET Q q 0 0 0 rg BT 400.60 398.20 Td (Guarantor ) Tj ET Q q 0 0 0 rg BT 435.58 398.20 Td (Subsidiaries) Tj ET Q q 0 0 0 rg BT 476.76 398.20 Td ( ) Tj ET Q q 0 0 0 rg BT 479.32 398.20 Td (existing ) Tj ET Q q 0 0 0 rg BT 507.20 398.20 Td (and ) Tj ET Q q 0 0 0 rg BT 521.31 398.20 Td (future ) Tj ET Q q 0 0 0 rg BT 542.96 398.20 Td (senior ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 388.60 Td (indebtedness, ) Tj ET Q q 0 0 0 rg BT 94.66 388.60 Td (including ) Tj ET Q q 0 0 0 rg BT 126.72 388.60 Td (in ) Tj ET Q q 0 0 0 rg BT 134.78 388.60 Td (respect ) Tj ET Q q 0 0 0 rg BT 159.27 388.60 Td (of ) Tj ET Q q 0 0 0 rg BT 167.77 388.60 Td (their ) Tj ET Q q 0 0 0 rg BT 184.27 388.60 Td (guarantees ) Tj ET Q q 0 0 0 rg BT 220.31 388.60 Td (of ) Tj ET Q q 0 0 0 rg BT 228.81 388.60 Td (the ) Tj ET Q q 0 0 0 rg BT 240.42 388.60 Td (2015 ) Tj ET Q q 0 0 0 rg BT 258.26 388.60 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 297.87 388.60 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 320.37 388.60 Td (the ) Tj ET Q q 0 0 0 rg BT 331.98 388.60 Td (2017 ) Tj ET Q q 0 0 0 rg BT 349.69 388.60 Td (T) Tj ET Q q 0 0 0 rg BT 354.02 388.60 Td (erm ) Tj ET Q q 0 0 0 rg BT 368.29 388.60 Td (Loan ) Tj ET Q q 0 0 0 rg BT 386.57 388.60 Td (and ) Tj ET Q q 0 0 0 rg BT 399.96 388.60 Td (the ) Tj ET Q q 0 0 0 rg BT 411.57 388.60 Td (2017 ) Tj ET Q q 0 0 0 rg BT 429.40 388.60 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 464.57 388.60 Td (Credit ) Tj ET Q q 0 0 0 rg BT 486.41 388.60 Td (Facility) Tj ET Q q 0 0 0 rg BT 510.33 388.60 Td (. ) Tj ET Q q 0 0 0 rg BT 514.17 388.60 Td (In ) Tj ET Q q 0 0 0 rg BT 522.67 388.60 Td (addition, ) Tj ET Q q 0 0 0 rg BT 552.73 388.60 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 379.00 Td (Guarantees ) Tj ET Q q 0 0 0 rg BT 87.52 379.00 Td (rank ) Tj ET Q q 0 0 0 rg BT 103.77 379.00 Td (senior ) Tj ET Q q 0 0 0 rg BT 125.36 379.00 Td (in ) Tj ET Q q 0 0 0 rg BT 133.63 379.00 Td (right ) Tj ET Q q 0 0 0 rg BT 150.77 379.00 Td (of ) Tj ET Q q 0 0 0 rg BT 159.48 379.00 Td (payment ) Tj ET Q q 0 0 0 rg BT 189.06 379.00 Td (to ) Tj ET Q q 0 0 0 rg BT 197.32 379.00 Td (any ) Tj ET Q q 0 0 0 rg BT 210.91 379.00 Td (other ) Tj ET Q q 0 0 0 rg BT 229.39 379.00 Td (existing ) Tj ET Q q 0 0 0 rg BT 256.76 379.00 Td (and ) Tj ET Q q 0 0 0 rg BT 270.35 379.00 Td (future ) Tj ET Q q 0 0 0 rg BT 291.49 379.00 Td (obligations ) Tj ET Q q 0 0 0 rg BT 329.09 379.00 Td (of ) Tj ET Q q 0 0 0 rg BT 337.79 379.00 Td (the ) Tj ET Q q 0 0 0 rg BT 349.60 379.00 Td (Guarantor ) Tj ET Q q 0 0 0 rg BT 384.07 379.00 Td (Subsidiaries ) Tj ET Q q 0 0 0 rg BT 425.22 379.00 Td (expressly ) Tj ET Q q 0 0 0 rg BT 457.47 379.00 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 500.84 379.00 Td (in ) Tj ET Q q 0 0 0 rg BT 509.10 379.00 Td (right ) Tj ET Q q 0 0 0 rg BT 526.25 379.00 Td (of ) Tj ET Q q 0 0 0 rg BT 534.95 379.00 Td (payment ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 369.40 Td (to ) Tj ET Q q 0 0 0 rg BT 57.67 369.40 Td (the ) Tj ET Q q 0 0 0 rg BT 69.38 369.40 Td (Guarantees. ) Tj ET Q q 0 0 0 rg BT 109.17 369.40 Td (The ) Tj ET Q q 0 0 0 rg BT 123.55 369.40 Td (Guarantees ) Tj ET Q q 0 0 0 rg BT 161.48 369.40 Td (ef) Tj ET Q q 0 0 0 rg BT 167.55 369.40 Td (fectively ) Tj ET Q q 0 0 0 rg BT 197.47 369.40 Td (rank ) Tj ET Q q 0 0 0 rg BT 213.63 369.40 Td (junior ) Tj ET Q q 0 0 0 rg BT 234.69 369.40 Td (to ) Tj ET Q q 0 0 0 rg BT 242.85 369.40 Td (all ) Tj ET Q q 0 0 0 rg BT 252.79 369.40 Td (of ) Tj ET Q q 0 0 0 rg BT 261.40 369.40 Td (the ) Tj ET Q q 0 0 0 rg BT 273.12 369.40 Td (future ) Tj ET Q q 0 0 0 rg BT 294.17 369.40 Td (indebtedness ) Tj ET Q q 0 0 0 rg BT 337.44 369.40 Td (and ) Tj ET Q q 0 0 0 rg BT 350.93 369.40 Td (other ) Tj ET Q q 0 0 0 rg BT 369.31 369.40 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 401.03 369.40 Td (of ) Tj ET Q q 0 0 0 rg BT 409.64 369.40 Td (our ) Tj ET Q q 0 0 0 rg BT 422.25 369.40 Td (Non-Guarantor ) Tj ET Q q 0 0 0 rg BT 473.06 369.40 Td (Subsidiaries, ) Tj ET Q q 0 0 0 rg BT 516.12 369.40 Td (including ) Tj ET Q q 0 0 0 rg BT 548.28 369.40 Td (with ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 359.80 Td (respect ) Tj ET Q q 0 0 0 rg BT 74.15 359.80 Td (to ) Tj ET Q q 0 0 0 rg BT 82.38 359.80 Td (their ) Tj ET Q q 0 0 0 rg BT 99.04 359.80 Td (obligations ) Tj ET Q q 0 0 0 rg BT 136.59 359.80 Td (in ) Tj ET Q q 0 0 0 rg BT 144.81 359.80 Td (respect ) Tj ET Q q 0 0 0 rg BT 169.46 359.80 Td (of ) Tj ET Q q 0 0 0 rg BT 178.13 359.80 Td (the ) Tj ET Q q 0 0 0 rg BT 189.90 359.80 Td (2017 ) Tj ET Q q 0 0 0 rg BT 207.90 359.80 Td (PIK ) Tj ET Q q 0 0 0 rg BT 222.79 359.80 Td (Notes.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 344.20 Td (CME ) Tj ET Q q 0 0 0 rg BT 68.66 344.20 Td (Ltd. ) Tj ET Q q 0 0 0 rg BT 83.59 344.20 Td (and ) Tj ET Q q 0 0 0 rg BT 96.97 344.20 Td (the ) Tj ET Q q 0 0 0 rg BT 108.57 344.20 Td (Guarantor ) Tj ET Q q 0 0 0 rg BT 142.82 344.20 Td (Subsidiaries ) Tj ET Q q 0 0 0 rg BT 183.75 344.20 Td (are ) Tj ET Q q 0 0 0 rg BT 195.34 344.20 Td (holding ) Tj ET Q q 0 0 0 rg BT 221.61 344.20 Td (companies ) Tj ET Q q 0 0 0 rg BT 257.65 344.20 Td (with ) Tj ET Q q 0 0 0 rg BT 273.70 344.20 Td (no ) Tj ET Q q 0 0 0 rg BT 283.52 344.20 Td (revenue-generating ) Tj ET Q q 0 0 0 rg BT 347.09 344.20 Td (operations ) Tj ET Q q 0 0 0 rg BT 382.23 344.20 Td (and ) Tj ET Q q 0 0 0 rg BT 395.61 344.20 Td (rely ) Tj ET Q q 0 0 0 rg BT 409.87 344.20 Td (on ) Tj ET Q q 0 0 0 rg BT 419.70 344.20 Td (the ) Tj ET Q q 0 0 0 rg BT 431.29 344.20 Td (repayment ) Tj ET Q q 0 0 0 rg BT 466.88 344.20 Td (of ) Tj ET Q q 0 0 0 rg BT 475.37 344.20 Td (intercompany ) Tj ET Q q 0 0 0 rg BT 521.18 344.20 Td (indebtedness ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 334.60 Td (and ) Tj ET Q q 0 0 0 rg BT 62.96 334.60 Td (the ) Tj ET Q q 0 0 0 rg BT 74.65 334.60 Td (declaration ) Tj ET Q q 0 0 0 rg BT 112.10 334.60 Td (of ) Tj ET Q q 0 0 0 rg BT 120.68 334.60 Td (dividends ) Tj ET Q q 0 0 0 rg BT 153.70 334.60 Td (to ) Tj ET Q q 0 0 0 rg BT 161.83 334.60 Td (receive ) Tj ET Q q 0 0 0 rg BT 186.84 334.60 Td (distributions ) Tj ET Q q 0 0 0 rg BT 228.75 334.60 Td (of ) Tj ET Q q 0 0 0 rg BT 237.33 334.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 253.46 334.60 Td (from ) Tj ET Q q 0 0 0 rg BT 270.92 334.60 Td (our ) Tj ET Q q 0 0 0 rg BT 283.50 334.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 315.62 334.60 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 355.31 334.60 Td (and ) Tj ET Q q 0 0 0 rg BT 368.77 334.60 Td (af) Tj ET Q q 0 0 0 rg BT 374.84 334.60 Td (filiates. ) Tj ET Q q 0 0 0 rg BT 400.39 334.60 Td (There ) Tj ET Q q 0 0 0 rg BT 420.95 334.60 Td (are ) Tj ET Q q 0 0 0 rg BT 432.63 334.60 Td (no ) Tj ET Q q 0 0 0 rg BT 442.55 334.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 478.23 334.60 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 515.69 334.60 Td (on ) Tj ET Q q 0 0 0 rg BT 525.60 334.60 Td (CME ) Tj ET Q q 0 0 0 rg BT 544.85 334.60 Td (Ltd.'s ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 325.00 Td (ability ) Tj ET Q q 0 0 0 rg BT 71.94 325.00 Td (to ) Tj ET Q q 0 0 0 rg BT 80.16 325.00 Td (obtain ) Tj ET Q q 0 0 0 rg BT 102.16 325.00 Td (funds ) Tj ET Q q 0 0 0 rg BT 121.94 325.00 Td (from ) Tj ET Q q 0 0 0 rg BT 139.49 325.00 Td (the ) Tj ET Q q 0 0 0 rg BT 151.26 325.00 Td (Guarantor ) Tj ET Q q 0 0 0 rg BT 185.69 325.00 Td (Subsidiaries.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 309.40 Td (Subsequent to the issuance of our 2013 consolidated financial statements, we determined that the investors) Tj ET Q q 0 0 0 rg BT 393.04 309.40 Td ( share of its subsidiaries) Tj ET Q q 0 0 0 rg BT 471.98 309.40 Td ( other comprehensive loss ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 299.85 Td (had been recorded within the loss from investment in subsidiaries rather than in the investors) Tj ET Q q 0 0 0 rg BT 348.83 299.85 Td ( other comprehensive income / loss. In addition, we determined ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 290.20 Td (that certain of the Guarantor Subsidiaries investments in subsidiaries had been eliminated within its balance sheet rather than as a consolidating elimination. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 280.60 Td (The amounts have been reclassified in our condensed consolidating statements of operations and comprehensive income for the years ended December 31, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 271.05 Td (2013 and 2012, and in our condensed consolidating balance sheets as at December 31, 2013, with no impact to our consolidated statements of operations and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 261.45 Td (comprehensive income or consolidated balance sheets.) Tj ET Q endstream endobj 171 0 obj <>] /Rotate 0 /Contents 172 0 R>> endobj 172 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (83) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 723.50 Td (The ) Tj ET Q q 0 0 0 rg BT 63.82 723.50 Td (following ) Tj ET Q q 0 0 0 rg BT 96.82 723.50 Td (tables ) Tj ET Q q 0 0 0 rg BT 117.36 723.50 Td (present ) Tj ET Q q 0 0 0 rg BT 142.35 723.50 Td (condensed ) Tj ET Q q 0 0 0 rg BT 178.00 723.50 Td (consolidating ) Tj ET Q q 0 0 0 rg BT 222.99 723.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 252.86 723.50 Td (information ) Tj ET Q q 0 0 0 rg BT 292.52 723.50 Td (relating ) Tj ET Q q 0 0 0 rg BT 318.84 723.50 Td (to ) Tj ET Q q 0 0 0 rg BT 326.95 723.50 Td (the ) Tj ET Q q 0 0 0 rg BT 338.61 723.50 Td (Guarantor ) Tj ET Q q 0 0 0 rg BT 372.92 723.50 Td (Subsidiaries ) Tj ET Q q 0 0 0 rg BT 413.92 723.50 Td (as ) Tj ET Q q 0 0 0 rg BT 422.47 723.50 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.13 723.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 476.88 723.50 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.88 723.50 Td ( ) Tj ET Q q 0 0 0 rg BT 494.76 723.50 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 508.20 723.50 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 524.20 723.50 Td (, ) Tj ET Q q 0 0 0 rg BT 528.09 723.50 Td (and ) Tj ET Q q 0 0 0 rg BT 541.52 723.50 Td (for ) Tj ET Q q 0 0 0 rg BT 552.74 723.50 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 713.90 Td (years ) Tj ET Q q 0 0 0 rg BT 68.38 713.90 Td (ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 89.48 713.90 Td (December31, ) Tj ET Q q 0 0 0 rg BT 136.35 713.90 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 152.35 713.90 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 156.35 713.90 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 172.35 713.90 Td ( ) Tj ET Q q 0 0 0 rg BT 174.35 713.90 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 187.90 713.90 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 203.90 713.90 Td (:) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 689.50 Td (Condensed Consolidating Balance Sheets as at December) Tj ET Q q 0 0 0 rg BT 244.02 689.50 Td ( 31, 2014) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 629.40 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 629.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 629.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 629.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 629.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 629.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 629.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 629.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 629.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 629.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 603.40 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 603.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 603.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 603.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 603.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 603.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 603.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 603.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 603.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 603.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 577.40 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 577.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 577.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 577.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 577.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 577.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 577.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 577.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 577.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 577.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 551.40 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 551.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 551.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 551.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 551.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 551.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 551.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 551.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 551.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 551.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 525.40 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 525.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 525.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 525.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 525.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 525.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 525.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 525.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 525.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 525.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 499.40 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 499.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 499.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 499.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 499.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 499.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 499.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 499.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 499.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 499.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 473.40 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 473.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 473.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 473.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 473.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 473.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 473.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 473.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 473.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 473.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 447.40 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 447.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 447.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 447.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 447.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 447.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 447.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 447.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 447.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 447.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 421.40 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 421.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 421.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 421.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 421.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 421.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 421.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 421.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 421.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 421.40 57.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 256 655.4 m 313 655.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 317 655.4 m 374 655.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 378 655.4 m 435 655.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 439 655.4 m 496 655.4 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 500 655.4 m 557 655.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 551.4 m 313 551.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 551.4 m 374 551.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 551.4 m 435 551.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 551.4 m 496 551.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 551.4 m 557 551.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 551.4 m 313 551.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 551.4 m 374 551.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 551.4 m 435 551.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 551.4 m 496 551.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 551.4 m 557 551.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 434.4 m 313 434.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 434.4 m 374 434.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 434.4 m 435 434.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 434.4 m 496 434.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 434.4 m 557 434.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 421.4 m 313 421.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 409.4 m 313 409.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 407.4 m 313 407.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 421.4 m 374 421.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 409.4 m 374 409.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 407.4 m 374 407.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 421.4 m 435 421.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 409.4 m 435 409.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 407.4 m 435 407.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 421.4 m 496 421.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 409.4 m 496 409.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 407.4 m 496 407.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 421.4 m 557 421.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 409.4 m 557 409.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 407.4 m 557 407.4 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 263.75 659.63 Td (Parent Issuer) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 333.75 667.63 Td (Guarantor) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 328.70 659.63 Td (Subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.60 675.48 Td (Non-) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.75 667.48 Td (Guarantor) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 389.70 659.48 Td (Subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 448.90 659.63 Td (Eliminations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 508.60 659.63 Td (Consolidated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 646.63 Td (ASSETS) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 258.50 646.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.50 646.65 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 633.63 Td (Current assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 620.65 Td (Cash and cash equivalents) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 258.50 620.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 297.15 620.65 Td (613) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.50 620.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.15 620.65 Td (2,931) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.50 620.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.15 620.65 Td (30,754) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 441.50 620.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.15 620.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.50 620.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.80 620.65 Td (34,298) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 607.65 Td (Accounts receivable, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.15 607.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.15 607.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.15 607.65 Td (175,866) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.15 607.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 607.65 Td (175,866) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 594.65 Td (Program rights, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.15 594.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.15 594.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.15 594.65 Td (99,358) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.15 594.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.80 594.65 Td (99,358) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 581.65 Td (Other current assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.15 581.65 Td (1,007) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.15 581.65 Td (346) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.15 581.65 Td (34,128) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.15 581.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.80 581.65 Td (35,481) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 568.65 Td (Assets held for sale) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.15 568.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.15 568.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.15 568.65 Td (29,866) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.15 568.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.80 568.65 Td (29,866) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 555.65 Td (Intercompany current assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 287.15 555.65 Td (12,582) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 348.15 555.65 Td (14,333) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.15 555.65 Td (17,492) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.45 555.65 Td (\(44,407) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.15 555.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.80 555.65 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 542.63 Td (Total current assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 287.15 542.63 Td (14,202) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.15 542.63 Td (17,610) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 405.15 542.63 Td (387,464) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.45 542.63 Td (\(44,407) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.15 542.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.75 542.63 Td (374,869) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 529.63 Td (Non-current assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 516.65 Td (Investments in subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 283.15 516.65 Td (110,186) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.15 516.65 Td (1,516,707) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.15 516.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 457.45 516.65 Td (\(1,626,893) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.15 516.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.80 516.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 503.65 Td (Property, plant and equipment, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.15 503.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.15 503.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.15 503.65 Td (114,335) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.15 503.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 503.65 Td (114,335) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 490.65 Td (Program rights, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.15 490.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.15 490.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.15 490.65 Td (207,264) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.15 490.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 490.65 Td (207,264) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 477.65 Td (Goodwill) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.15 477.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.15 477.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.15 477.65 Td (681,398) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.15 477.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 477.65 Td (681,398) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 464.65 Td (Broadcast licenses and other intangible assets, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.15 464.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.15 464.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.15 464.65 Td (183,378) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.15 464.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 464.65 Td (183,378) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 451.65 Td (Other non-current assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 287.15 451.65 Td (55,471) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.15 451.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.15 451.65 Td (2,645) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.15 451.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.80 451.65 Td (58,116) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 438.65 Td (Intercompany non-current assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.15 438.65 Td (1,252,708) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 348.15 438.65 Td (32,781) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.15 438.65 Td (291,589) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 457.45 438.65 Td (\(1,577,078) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.15 438.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.80 438.65 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 425.63 Td (Total non-current assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 277.15 425.63 Td (1,418,365) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.15 425.63 Td (1,549,488) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.15 425.63 Td (1,480,609) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 457.45 425.63 Td (\(3,203,971) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.15 425.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.75 425.63 Td (1,244,491) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 412.63 Td (Total assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 258.50 412.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 277.15 412.63 Td (1,432,567) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 319.50 412.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.15 412.63 Td (1,567,098) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 380.50 412.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.15 412.63 Td (1,868,073) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 441.50 412.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 457.45 412.63 Td (\(3,248,378) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.15 412.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 502.50 412.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.75 412.63 Td (1,619,360) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 372.40 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 372.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 372.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 372.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 372.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 372.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 372.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 372.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 372.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 372.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 338.40 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 338.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 338.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 338.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 338.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 338.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 338.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 338.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 338.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 338.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 312.40 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 312.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 312.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 312.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 312.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 312.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 312.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 312.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 312.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 312.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 286.40 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 286.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 286.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 286.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 286.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 286.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 286.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 286.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 286.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 286.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 260.40 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 260.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 260.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 260.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 260.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 260.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 260.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 260.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 260.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 260.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 234.40 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 234.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 234.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 234.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 234.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 234.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 234.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 234.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 234.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 234.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 208.40 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 208.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 208.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 208.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 208.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 208.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 208.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 208.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 208.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 208.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 182.40 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 182.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 182.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 182.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 182.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 182.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 182.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 182.40 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 182.40 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 182.40 57.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 299.4 m 313 299.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 299.4 m 374 299.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 299.4 m 435 299.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 299.4 m 496 299.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 299.4 m 557 299.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 299.4 m 313 299.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 299.4 m 374 299.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 299.4 m 435 299.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 299.4 m 496 299.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 299.4 m 557 299.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 234.39999999999998 m 313 234.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 234.39999999999998 m 374 234.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 234.39999999999998 m 435 234.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 234.39999999999998 m 496 234.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 234.39999999999998 m 557 234.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 182.39999999999998 m 313 182.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 182.39999999999998 m 374 182.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 182.39999999999998 m 435 182.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 182.39999999999998 m 496 182.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 182.39999999999998 m 557 182.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 169.39999999999998 m 313 169.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 157.39999999999998 m 313 157.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 155.39999999999998 m 313 155.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 169.39999999999998 m 374 169.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 157.39999999999998 m 374 157.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 155.39999999999998 m 374 155.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 169.39999999999998 m 435 169.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 157.39999999999998 m 435 157.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 155.39999999999998 m 435 155.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 169.39999999999998 m 496 169.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 157.39999999999998 m 496 157.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 155.39999999999998 m 496 155.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 169.39999999999998 m 557 169.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 157.39999999999998 m 557 157.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 155.39999999999998 m 557 155.39999999999998 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 389.63 Td (LIABILITIES AND EQUITY) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 258.50 389.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.50 389.65 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 376.63 Td (Current liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 363.65 Td (Accounts payable and accrued liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 258.50 363.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.80 363.65 Td (5,109) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.50 363.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.80 363.65 Td (286) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.50 363.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.75 363.65 Td (173,829) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 441.50 363.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 363.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.50 363.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 363.65 Td (179,224) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 350.65 Td (Current portion of long-term debt and other financing) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 342.65 Td (arrangements) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 283.75 342.65 Td (251,669) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.80 342.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.80 342.65 Td (1,190) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 342.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 342.65 Td (252,859) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 329.65 Td (Other current liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 297.80 329.65 Td (271) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.80 329.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.80 329.65 Td (7,541) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 329.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 535.80 329.65 Td (7,812) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 316.65 Td (Liabilities held for sale) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.80 316.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.80 316.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.80 316.65 Td (10,632) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 316.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.80 316.65 Td (10,632) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 303.65 Td (Intercompany current liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.80 303.65 Td (7,003) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 348.80 303.65 Td (35,151) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.80 303.65 Td (2,253) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.10 303.65 Td (\(44,407) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 303.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.80 303.65 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 290.63 Td (Total current liabilities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 283.75 290.63 Td (264,052) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.80 290.63 Td (35,437) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 405.75 290.63 Td (195,445) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.10 290.63 Td (\(44,407) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 290.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.75 290.63 Td (450,527) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 277.63 Td (Non-current liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 309.50 277.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.50 277.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 264.65 Td (Long-term debt and other financing arrangements) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 283.75 264.65 Td (615,698) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.80 264.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.80 264.65 Td (5,542) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 264.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 264.65 Td (621,240) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 251.65 Td (Other non-current liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 287.80 251.65 Td (16,315) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.80 251.65 Td (482) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.80 251.65 Td (29,688) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 251.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.80 251.65 Td (46,485) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 238.65 Td (Intercompany non-current liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 287.80 238.65 Td (32,782) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.75 238.65 Td (1,392,535) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.75 238.65 Td (151,761) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.10 238.65 Td (\(1,577,078) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 238.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.80 238.65 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 225.63 Td (Total non-current liabilities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 283.75 225.63 Td (664,795) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.75 225.63 Td (1,393,017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 405.75 225.63 Td (186,991) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.10 225.63 Td (\(1,577,078) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 225.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.75 225.63 Td (667,725) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 212.63 Td (Temporary equity) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 283.75 212.63 Td (223,926) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.80 212.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.80 212.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.80 212.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.75 212.63 Td (223,926) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 199.65 Td (Total CME Ltd. shareholders equity) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 283.75 199.65 Td (279,794) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.75 199.65 Td (138,644) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.75 199.65 Td (1,488,249) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.10 199.65 Td (\(1,626,893) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 199.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 199.65 Td (279,794) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 186.65 Td (Noncontrolling interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.80 186.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.80 186.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.10 186.65 Td (\(2,612) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.80 186.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 186.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.10 186.65 Td (\(2,612) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 553.80 186.65 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 173.63 Td (Total equity) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 283.75 173.63 Td (279,794) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 344.75 173.63 Td (138,644) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.75 173.63 Td (1,485,637) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.10 173.63 Td (\(1,626,893) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 173.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.75 173.63 Td (277,182) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 160.63 Td (Total liabilities and equity) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 258.50 160.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 277.75 160.63 Td (1,432,567) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 319.50 160.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.75 160.63 Td (1,567,098) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 380.50 160.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.75 160.63 Td (1,868,073) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 441.50 160.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.10 160.63 Td (\(3,248,378) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 160.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 502.50 160.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.75 160.63 Td (1,619,360) Tj ET Q BT /F1 8.00 Tf ET endstream endobj 173 0 obj <>] /Rotate 0 /Contents 174 0 R>> endobj 174 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (84) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 720.60 Td (Condensed Consolidating Balance Sheets as at December) Tj ET Q q 0 0 0 rg BT 244.02 720.60 Td ( 31, 2013) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 660.50 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 660.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 660.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 660.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 660.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 660.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 660.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 660.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 660.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 660.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 634.50 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 634.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 634.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 634.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 634.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 634.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 634.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 634.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 634.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 634.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 608.50 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 608.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 608.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 608.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 608.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 608.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 608.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 608.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 608.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 608.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 582.50 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 582.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 582.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 582.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 582.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 582.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 582.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 582.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 582.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 582.50 57.00 -13.00 re f /GS0 gs 0.8 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1 rg /GS0 gs 500.00 478.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 452.50 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 452.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 452.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 452.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 452.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 452.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 452.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 452.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 452.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 452.50 57.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 256 686.5 m 313 686.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 317 686.5 m 374 686.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 378 686.5 m 435 686.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 439 686.5 m 496 686.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 500 686.5 m 557 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 582.5 m 313 582.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 582.5 m 374 582.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 582.5 m 435 582.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 582.5 m 496 582.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 582.5 m 557 582.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 582.5 m 313 582.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 582.5 m 374 582.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 582.5 m 435 582.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 582.5 m 496 582.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 582.5 m 557 582.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 465.5 m 313 465.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 465.5 m 374 465.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 465.5 m 435 465.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 465.5 m 496 465.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 465.5 m 557 465.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 452.5 m 313 452.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 440.5 m 313 440.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 438.5 m 313 438.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 452.5 m 374 452.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 440.5 m 374 440.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 438.5 m 374 438.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 452.5 m 435 452.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 440.5 m 435 440.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 438.5 m 435 438.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 452.5 m 496 452.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 440.5 m 496 440.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 438.5 m 496 438.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 452.5 m 557 452.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 440.5 m 557 440.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 438.5 m 557 438.5 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 263.75 690.73 Td (Parent Issuer) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 333.75 698.73 Td (Guarantor) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 328.70 690.73 Td (Subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.60 706.58 Td (Non-) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.75 698.58 Td (Guarantor) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 389.70 690.58 Td (Subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 448.90 690.73 Td (Eliminations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 508.60 690.73 Td (Consolidated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 677.73 Td (ASSETS) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 258.50 677.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.50 677.75 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 664.73 Td (Current assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 651.75 Td (Cash and cash equivalents) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 258.50 651.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 287.80 651.75 Td (19,461) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.50 651.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.80 651.75 Td (5,422) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.50 651.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.80 651.75 Td (77,439) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 441.50 651.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 651.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.50 651.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 651.75 Td (102,322) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 638.75 Td (Accounts receivable, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.80 638.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.80 638.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.75 638.75 Td (169,054) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 638.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 638.75 Td (169,054) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 625.75 Td (Program rights, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.80 625.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.80 625.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.80 625.75 Td (96,099) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 625.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.80 625.75 Td (96,099) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 612.75 Td (Other current assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.80 612.75 Td (2,638) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.80 612.75 Td (31) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.80 612.75 Td (40,134) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 612.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.80 612.75 Td (42,803) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 599.75 Td (Assets held for sale) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.80 599.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.80 599.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.75 599.75 Td (117,002) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 599.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 599.75 Td (117,002) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 586.75 Td (Intercompany current assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 287.80 586.75 Td (53,396) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.80 586.75 Td (2,052) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.80 586.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.10 586.75 Td (\(55,448) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 586.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.80 586.75 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 573.73 Td (Total current assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 287.80 573.73 Td (75,495) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 352.80 573.73 Td (7,505) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 405.75 573.73 Td (499,728) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.10 573.73 Td (\(55,448) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 573.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.75 573.73 Td (527,280) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 560.73 Td (Non-current assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 309.50 560.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.50 560.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 547.75 Td (Investments in subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.80 547.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.75 547.75 Td (1,447,178) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.80 547.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.10 547.75 Td (\(1,447,178) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 547.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.80 547.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 534.75 Td (Property, plant and equipment, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.80 534.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.80 534.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.75 534.75 Td (142,907) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 534.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 534.75 Td (142,907) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 521.75 Td (Program rights, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.80 521.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.80 521.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.75 521.75 Td (272,997) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 521.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 521.75 Td (272,997) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 508.75 Td (Goodwill) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.80 508.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.80 508.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.75 508.75 Td (782,870) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 508.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 508.75 Td (782,870) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 495.75 Td (Broadcast licenses and other intangible assets, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.80 495.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.80 495.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.75 495.75 Td (222,119) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 495.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 495.75 Td (222,119) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 482.75 Td (Other non-current assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.80 482.75 Td (3,976) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.80 482.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.80 482.75 Td (9,724) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 482.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.80 482.75 Td (13,700) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 469.75 Td (Intercompany non-current assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.75 469.75 Td (1,822,966) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.75 469.75 Td (315,017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.80 469.75 Td (18,887) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.10 469.75 Td (\(2,156,870) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 469.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.80 469.75 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 456.73 Td (Total non-current assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 277.75 456.73 Td (1,826,942) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.75 456.73 Td (1,762,195) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.75 456.73 Td (1,449,504) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.10 456.73 Td (\(3,604,048) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 456.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.75 456.73 Td (1,434,593) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 443.73 Td (Total assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 258.50 443.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 277.75 443.73 Td (1,902,437) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 319.50 443.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.75 443.73 Td (1,769,700) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 380.50 443.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.75 443.73 Td (1,949,232) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 441.50 443.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.10 443.73 Td (\(3,659,496) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 443.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 502.50 443.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.75 443.73 Td (1,961,873) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 403.50 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 403.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 403.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 403.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 403.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 403.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 403.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 403.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 403.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 403.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 369.50 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 369.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 369.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 369.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 369.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 369.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 369.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 369.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 369.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 369.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 343.50 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 343.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 343.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 343.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 343.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 343.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 343.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 343.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 343.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 343.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 317.50 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 317.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 317.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 317.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 317.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 317.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 317.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 317.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 317.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 317.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 291.50 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 291.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 291.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 291.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 291.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 291.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 291.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 291.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 291.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 291.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 265.50 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 265.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 265.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 265.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 265.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 265.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 265.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 265.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 265.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 265.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 239.50 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 239.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 239.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 239.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 239.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 239.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 239.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 239.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 239.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 239.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 213.50 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 213.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 213.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 213.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 213.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 213.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 213.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 213.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 213.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 213.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 187.50 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 187.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 187.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 187.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 187.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 187.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 187.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 187.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.00 187.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.00 187.50 57.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 330.5 m 313 330.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 330.5 m 374 330.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 330.5 m 435 330.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 330.5 m 496 330.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 330.5 m 557 330.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 330.5 m 313 330.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 330.5 m 374 330.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 330.5 m 435 330.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 330.5 m 496 330.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 330.5 m 557 330.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 252.5 m 313 252.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 252.5 m 374 252.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 252.5 m 435 252.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 252.5 m 496 252.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 252.5 m 557 252.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 200.5 m 313 200.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 200.5 m 374 200.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 200.5 m 435 200.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 200.5 m 496 200.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 200.5 m 557 200.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 187.5 m 313 187.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 175.5 m 313 175.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 173.5 m 313 173.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 187.5 m 374 187.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 175.5 m 374 175.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 173.5 m 374 173.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 187.5 m 435 187.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 175.5 m 435 175.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 173.5 m 435 173.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 187.5 m 496 187.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 175.5 m 496 175.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 173.5 m 496 173.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 187.5 m 557 187.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 175.5 m 557 175.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 173.5 m 557 173.5 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 420.73 Td (LIABILITIES AND EQUITY) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 258.50 420.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.50 420.75 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 407.73 Td (Current liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 394.75 Td (Accounts payable and accrued liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 258.50 394.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 287.80 394.75 Td (18,234) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.50 394.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.80 394.75 Td (41) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.50 394.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.75 394.75 Td (259,405) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 441.50 394.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 394.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.50 394.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 394.75 Td (277,680) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 381.75 Td (Current portion of long-term debt and other financing) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 373.75 Td (arrangements) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.80 373.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.80 373.75 Td (71) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.80 373.75 Td (1,390) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 373.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 535.80 373.75 Td (1,461) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 360.75 Td (Other current liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 297.80 360.75 Td (500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.80 360.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.80 360.75 Td (13,511) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 360.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.80 360.75 Td (14,011) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 347.75 Td (Liabilities held for sale) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.80 347.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.80 347.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.80 347.75 Td (29,529) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 347.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.80 347.75 Td (29,529) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 334.75 Td (Intercompany current liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.80 334.75 Td (7,788) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 348.80 334.75 Td (45,988) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.80 334.75 Td (1,672) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.10 334.75 Td (\(55,448) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 334.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.80 334.75 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 321.73 Td (Total current liabilities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 287.80 321.73 Td (26,522) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.80 321.73 Td (46,100) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 405.75 321.73 Td (305,507) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.10 321.73 Td (\(55,448) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 321.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.75 321.73 Td (322,681) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 308.73 Td (Non-current liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 309.50 308.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.50 308.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 296.45 Td (Deficiency in excess of investments in subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 283.75 295.75 Td (297,244) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.80 295.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.80 295.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.10 295.75 Td (\(297,244) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 295.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.80 295.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 282.75 Td (Long-term debt and other financing arrangements) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 283.75 282.75 Td (620,375) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.80 282.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.75 282.75 Td (342,427) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 282.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 282.75 Td (962,802) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 269.75 Td (Other non-current liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.80 269.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.80 269.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.80 269.75 Td (27,499) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 269.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.80 269.75 Td (27,499) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 256.75 Td (Intercompany non-current liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 283.75 256.75 Td (310,298) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.75 256.75 Td (1,846,572) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.80 256.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.10 256.75 Td (\(2,156,870) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 256.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.80 256.75 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 243.73 Td (Total non-current liabilities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 277.75 243.73 Td (1,227,917) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.75 243.73 Td (1,846,572) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 405.75 243.73 Td (369,926) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.10 243.73 Td (\(2,454,114) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 243.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.75 243.73 Td (990,301) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 230.73 Td (Temporary equity) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 283.75 230.73 Td (207,890) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.80 230.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.80 230.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.80 230.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.75 230.73 Td (207,890) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 217.75 Td (Total CME Ltd. shareholders equity / \(deficit\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 283.75 217.75 Td (440,108) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 342.10 217.75 Td (\(122,972) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.80 217.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.75 217.75 Td (1,272,906) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.10 217.75 Td (\(1,149,934) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 217.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.75 217.75 Td (440,108) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 204.75 Td (Noncontrolling interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.80 204.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.80 204.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 419.80 204.75 Td (893) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.80 204.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.80 204.75 Td (893) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 191.73 Td (Total equity / \(deficit\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 283.75 191.73 Td (440,108) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 342.10 191.73 Td (\(122,972) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 370.80 191.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.75 191.73 Td (1,273,799) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.10 191.73 Td (\(1,149,934) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 191.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 527.75 191.73 Td (441,001) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 178.73 Td (Total liabilities and equity) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 258.50 178.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 277.75 178.73 Td (1,902,437) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 319.50 178.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.75 178.73 Td (1,769,700) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 380.50 178.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.75 178.73 Td (1,949,232) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 441.50 178.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.10 178.73 Td (\(3,659,496) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 178.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 502.50 178.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.75 178.73 Td (1,961,873) Tj ET Q BT /F1 8.00 Tf ET endstream endobj 175 0 obj <>] /Rotate 0 /Contents 176 0 R>> endobj 176 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (85) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 720.60 Td (Condensed Consolidating Statements of Operations and Compr) Tj ET Q q 0 0 0 rg BT 266.71 720.60 Td (ehensive Income for) Tj ET Q q 0 0 0 rg BT 335.00 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gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 368.5 m 379 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 368.5 m 440 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 368.5 m 501 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 368.5 m 562 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 368.5 m 318 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 368.5 m 379 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 368.5 m 440 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 368.5 m 501 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 368.5 m 562 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 342.5 m 318 342.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 330.5 m 318 330.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 328.5 m 318 328.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 342.5 m 379 342.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 330.5 m 379 330.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 328.5 m 379 328.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 342.5 m 440 342.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 330.5 m 440 330.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 328.5 m 440 328.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 342.5 m 501 342.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 330.5 m 501 330.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 328.5 m 501 328.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 342.5 m 562 342.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 330.5 m 562 330.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 328.5 m 562 328.5 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 268.75 689.73 Td (Parent Issuer) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.75 697.73 Td (Guarantor) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 333.70 689.73 Td (Subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 419.60 705.73 Td (Non-) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.75 697.73 Td (Guarantor) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.70 689.73 Td (Subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 453.90 689.73 Td (Eliminations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 513.60 689.73 Td (Consolidated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 676.73 Td (Net revenues) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 263.50 676.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 306.80 676.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 676.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.80 676.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.50 676.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 410.75 676.73 Td (680,793) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.50 676.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.80 676.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 507.50 676.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 676.73 Td (680,793) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 663.73 Td (Cost of revenues) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 306.80 663.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.80 663.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 410.75 663.73 Td (489,041) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.80 663.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 663.73 Td (489,041) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 650.75 Td (Selling, general and administrative expenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.80 650.75 Td (19,026) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 363.80 650.75 Td (804) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.75 650.75 Td (123,786) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.80 650.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 650.75 Td (143,616) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 637.75 Td (Restructuring costs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.80 637.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.80 637.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.80 637.75 Td (9,856) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.80 637.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 637.75 Td (9,856) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 624.73 Td (Operating \(loss\) / income) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 290.10 624.73 Td (\(19,026) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.80 624.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.10 624.73 Td (\(804) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.80 624.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.80 624.73 Td (58,110) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.80 624.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.80 624.73 Td (38,280) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 611.75 Td (Interest income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.75 611.75 Td (138,020) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.80 611.75 Td (26,198) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.80 611.75 Td (1,668) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.10 611.75 Td (\(165,592) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.80 611.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 611.75 Td (294) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 598.75 Td (Interest expense) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 286.10 598.75 Td (\(138,480) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.80 598.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 347.10 598.75 Td (\(137,891) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.80 598.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.10 598.75 Td (\(31,226) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.80 598.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.75 598.75 Td (165,592) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.10 598.75 Td (\(142,005) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 598.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 585.75 Td (Loss on extinguishment of debt) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 290.10 585.75 Td (\(24,161) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.80 585.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.80 585.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.10 585.75 Td (\(15,042) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.80 585.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.80 585.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 585.75 Td (\(39,203) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 585.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 572.75 Td (Foreign currency exchange gain / \(loss\), net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.80 572.75 Td (3,926) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.80 572.75 Td (2,243) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.10 572.75 Td (\(18,936) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.80 572.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.80 572.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 572.75 Td (\(12,767) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 572.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 559.75 Td (Change in fair value of derivatives) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.80 559.75 Td (2,311) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 355.10 559.75 Td (\(6,663) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.80 559.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.80 559.75 Td (6,663) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.80 559.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 559.75 Td (2,311) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 546.75 Td (Other income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.80 546.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.80 546.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 424.80 546.75 Td (267) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.80 546.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 546.75 Td (267) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 534.58 Td (\(Loss\) / income fr) Tj ET Q q 0 0 0 rg BT 112.12 534.58 Td (om continuing operations befor) Tj ET Q q 0 0 0 rg BT 219.31 534.58 Td (e tax and ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 526.58 Td (loss fr) Tj ET Q q 0 0 0 rg BT 73.02 526.58 Td (om investment in subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 290.10 525.73 Td (\(37,410) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.80 525.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 347.10 525.73 Td (\(116,917) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.80 525.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.80 525.73 Td (1,504) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.80 525.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 525.73 Td (\(152,823) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 525.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 512.75 Td (Credit / \(provision\) for income taxes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.80 512.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.80 512.75 Td (12,170) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.10 512.75 Td (\(10,812) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.80 512.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.80 512.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 512.75 Td (1,358) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 499.73 Td (Loss from continuing operations before loss from) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 491.73 Td (investment in subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 290.10 491.73 Td (\(37,410) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.80 491.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 347.10 491.73 Td (\(104,747) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.80 491.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 416.10 491.73 Td (\(9,308) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.80 491.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.80 491.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 491.73 Td (\(151,465) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 491.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 478.75 Td (Loss from investment in subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 286.10 478.75 Td (\(190,018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.80 478.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.10 478.75 Td (\(85,271) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.80 478.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.80 478.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.75 478.75 Td (275,289) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 478.75 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 465.73 Td (Loss from continuing operations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 286.10 465.73 Td (\(227,428) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.80 465.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 347.10 465.73 Td (\(190,018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.80 465.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 416.10 465.73 Td (\(9,308) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.80 465.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.75 465.73 Td (275,289) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 465.73 Td (\(151,465) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 465.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 452.75 Td (Loss from discontinued operations, net of tax) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.80 452.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.80 452.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.10 452.75 Td (\(80,431) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.80 452.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.80 452.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 452.75 Td (\(80,431) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 452.75 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 439.73 Td (Net loss) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 286.10 439.73 Td (\(227,428) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.80 439.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 347.10 439.73 Td (\(190,018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.80 439.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 412.10 439.73 Td (\(89,739) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.80 439.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.75 439.73 Td (275,289) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 439.73 Td (\(231,896) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 439.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 426.75 Td (Net loss attributable to noncontrolling interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.80 426.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.80 426.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.80 426.75 Td (4,468) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.80 426.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 426.75 Td (4,468) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 413.73 Td (Net loss attributable to CME Ltd.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 286.10 413.73 Td (\(227,428) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.80 413.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 347.10 413.73 Td (\(190,018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.80 413.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 412.10 413.73 Td (\(85,271) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.80 413.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.75 413.73 Td (275,289) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 413.73 Td (\(227,428) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 413.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 386.73 Td (Net loss) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 263.50 386.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 286.10 386.73 Td (\(227,428) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.80 386.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 386.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 347.10 386.73 Td (\(190,018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.80 386.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.50 386.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 412.10 386.73 Td (\(89,739) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.80 386.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.50 386.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.75 386.73 Td (275,289) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 507.50 386.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 386.73 Td (\(231,896) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 386.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 372.73 Td (Other comprehensive loss) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 286.10 372.73 Td (\(162,136) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.80 372.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 347.10 372.73 Td (\(319,647) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.80 372.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.10 372.73 Td (\(155,197) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.80 372.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.75 372.73 Td (480,163) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 372.73 Td (\(156,817) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 372.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 359.73 Td (Comprehensive loss) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 286.10 359.73 Td (\(389,564) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.80 359.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 347.10 359.73 Td (\(509,665) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.80 359.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.10 359.73 Td (\(244,936) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.80 359.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.75 359.73 Td (755,452) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 359.73 Td (\(388,713) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 359.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 346.75 Td (Comprehensive loss attributable to noncontrolling interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.80 346.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.80 346.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.80 346.75 Td (3,505) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.80 346.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 346.75 Td (3,505) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 333.73 Td (Comprehensive loss attributable to CME Ltd.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 263.50 333.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 286.10 333.73 Td (\(389,564) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.80 333.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 333.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 347.10 333.73 Td (\(509,665) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.80 333.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.50 333.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.10 333.73 Td (\(241,431) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.80 333.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.50 333.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.75 333.73 Td (755,452) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 507.50 333.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 333.73 Td (\(385,208) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 333.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET endstream endobj 177 0 obj <>] /Rotate 0 /Contents 178 0 R>> endobj 178 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (86) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 720.60 Td (Condensed Consolidating Statements of Operations and Compr) Tj ET Q q 0 0 0 rg BT 266.71 720.60 Td (ehensive Income for) Tj ET Q q 0 0 0 rg BT 335.00 720.60 Td ( the year) Tj ET Q q 0 0 0 rg BT 364.62 720.60 Td ( ended December) Tj ET Q q 0 0 0 rg BT 423.57 720.60 Td ( 31, 2013) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 685.50 211.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 685.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.00 685.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.00 685.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 685.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.00 685.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 685.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 685.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 685.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 685.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 659.50 211.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg 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/GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 383.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 383.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 383.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 357.50 211.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 357.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.00 357.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.00 357.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 357.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.00 357.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 357.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 357.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 357.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 357.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 331.50 211.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 331.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.00 331.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.00 331.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 331.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.00 331.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 331.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 331.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 331.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 331.50 57.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 505 685.5 m 562 685.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 261 685.5 m 318 685.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 322 685.5 m 379 685.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 383 685.5 m 440 685.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 444 685.5 m 501 685.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 505 685.5 m 562 685.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 620.5 m 318 620.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 620.5 m 379 620.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 620.5 m 440 620.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 620.5 m 501 620.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 620.5 m 562 620.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 529.5 m 318 529.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 529.5 m 379 529.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 529.5 m 440 529.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 529.5 m 501 529.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 529.5 m 562 529.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 495.5 m 318 495.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 495.5 m 379 495.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 495.5 m 440 495.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 495.5 m 501 495.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 495.5 m 562 495.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 461.5 m 318 461.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 461.5 m 379 461.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 461.5 m 440 461.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 461.5 m 501 461.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 461.5 m 562 461.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 435.5 m 318 435.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 435.5 m 379 435.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 435.5 m 440 435.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 435.5 m 501 435.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 435.5 m 562 435.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 409.5 m 318 409.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 409.5 m 379 409.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 409.5 m 440 409.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 409.5 m 501 409.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 409.5 m 562 409.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 396.5 m 318 396.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 396.5 m 379 396.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 396.5 m 440 396.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 396.5 m 501 396.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 396.5 m 562 396.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 357.5 m 318 357.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 357.5 m 379 357.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 357.5 m 440 357.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 357.5 m 501 357.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 357.5 m 562 357.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 357.5 m 318 357.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 357.5 m 379 357.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 357.5 m 440 357.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 357.5 m 501 357.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 357.5 m 562 357.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 331.5 m 318 331.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 319.5 m 318 319.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 317.5 m 318 317.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 331.5 m 379 331.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 319.5 m 379 319.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 317.5 m 379 317.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 331.5 m 440 331.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 319.5 m 440 319.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 317.5 m 440 317.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 331.5 m 501 331.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 319.5 m 501 319.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 317.5 m 501 317.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 331.5 m 562 331.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 319.5 m 562 319.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 317.5 m 562 317.5 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 268.75 689.73 Td (Parent Issuer) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.75 697.73 Td (Guarantor) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 333.70 689.73 Td (Subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 419.60 705.73 Td (Non-) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.75 697.73 Td (Guarantor) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.70 689.73 Td (Subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 453.90 689.73 Td (Eliminations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 513.60 689.73 Td (Consolidated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 676.73 Td (Net revenues) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 263.50 676.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 306.15 676.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 676.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.15 676.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.50 676.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 410.15 676.73 Td (633,134) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.50 676.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.15 676.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 507.50 676.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 676.73 Td (633,134) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 663.73 Td (Cost of revenues) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 306.15 663.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.15 663.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 410.15 663.73 Td (578,570) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.15 663.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 663.73 Td (578,570) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 650.75 Td (Selling, general and administrative expenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.15 650.75 Td (33,905) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.15 650.75 Td (5) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.15 650.75 Td (102,483) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.15 650.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 650.75 Td (136,393) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 637.75 Td (Restructuring costs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.15 637.75 Td (2,422) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.15 637.75 Td (24) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 414.15 637.75 Td (16,066) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.15 637.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 637.75 Td (18,512) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 624.75 Td (Impairment charge) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.15 624.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.15 624.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 414.15 624.75 Td (79,676) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.15 624.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 624.75 Td (79,676) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 611.73 Td (Operating loss) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 289.45 611.73 Td (\(36,327) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.15 611.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 364.45 611.73 Td (\(29) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.15 611.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.45 611.73 Td (\(143,661) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.15 611.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.15 611.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 611.73 Td (\(180,017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 611.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 598.75 Td (Interest income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.15 598.75 Td (137,545) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.15 598.75 Td (6,519) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 424.15 598.75 Td (462) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.45 598.75 Td (\(144,030) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.15 598.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 598.75 Td (496) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 585.75 Td (Interest expense) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.45 585.75 Td (\(88,102) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.15 585.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 346.45 585.75 Td (\(124,100) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.15 585.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.45 585.75 Td (\(43,537) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.15 585.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.15 585.75 Td (144,030) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.10 585.75 Td (\(111,709) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 585.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 572.75 Td (Loss on extinguishment of debt) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.45 572.75 Td (\(23,115) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.15 572.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.15 572.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.15 572.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.15 572.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 572.75 Td (\(23,115) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 572.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 559.75 Td (Foreign currency exchange gain / \(loss\), net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.15 559.75 Td (29,773) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.15 559.75 Td (27,790) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.45 559.75 Td (\(37,376) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.15 559.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.15 559.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 559.75 Td (20,187) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 546.75 Td (Change in fair value of derivatives) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.15 546.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 350.45 546.75 Td (\(18,779) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.15 546.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 414.15 546.75 Td (18,883) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.15 546.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 546.75 Td (104) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 533.75 Td (Other expense) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.15 533.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 364.45 533.75 Td (\(81) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.15 533.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.45 533.75 Td (\(292) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.15 533.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.15 533.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.10 533.75 Td (\(373) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 533.75 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 520.73 Td (Income / \(loss\) from continuing operations before tax and) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 512.73 Td (loss from investment in subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 292.15 512.73 Td (19,774) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.45 512.73 Td (\(108,680) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.15 512.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.45 512.73 Td (\(205,521) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.15 512.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.15 512.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 512.73 Td (\(294,427) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 512.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 499.75 Td (Credit for income taxes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.15 499.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.15 499.75 Td (9,510) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.15 499.75 Td (8,483) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.15 499.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 499.75 Td (17,993) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 486.73 Td (Income / \(loss\) from continuing operations before loss from) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 478.73 Td (investment in subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 292.15 478.73 Td (19,774) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.45 478.73 Td (\(99,170) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.15 478.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.45 478.73 Td (\(197,038) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.15 478.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.15 478.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 478.73 Td (\(276,434) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 478.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 465.75 Td (Loss on investment in subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.45 465.75 Td (\(297,425) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.15 465.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 346.45 465.75 Td (\(198,255) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.15 465.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.15 465.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.15 465.75 Td (495,680) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 465.75 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 452.73 Td (Loss from continuing operations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 285.45 452.73 Td (\(277,651) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.15 452.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.45 452.73 Td (\(297,425) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.15 452.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.45 452.73 Td (\(197,038) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.15 452.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.15 452.73 Td (495,680) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 452.73 Td (\(276,434) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 452.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 440.45 Td (Loss from discontinued operations, net of tax ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.15 439.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.15 439.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.45 439.75 Td (\(5,099) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.15 439.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.15 439.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.10 439.75 Td (\(5,099) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 439.75 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 426.73 Td (Net loss) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 285.45 426.73 Td (\(277,651) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.15 426.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.45 426.73 Td (\(297,425) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.15 426.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.45 426.73 Td (\(202,137) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.15 426.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.15 426.73 Td (495,680) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 426.73 Td (\(281,533) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 426.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 413.75 Td (Net loss attributable to noncontrolling interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.15 413.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.15 413.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.15 413.75 Td (3,882) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.15 413.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 413.75 Td (3,882) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 400.73 Td (Net loss attributable to CME Ltd.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 285.45 400.73 Td (\(277,651) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.15 400.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.45 400.73 Td (\(297,425) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.15 400.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.45 400.73 Td (\(198,255) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.15 400.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.15 400.73 Td (495,680) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 400.73 Td (\(277,651) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 400.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 374.73 Td (Net loss) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 263.50 374.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 285.45 374.73 Td (\(277,651) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.15 374.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 374.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.45 374.73 Td (\(297,425) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.15 374.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.50 374.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.45 374.73 Td (\(202,137) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.15 374.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.50 374.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.15 374.73 Td (495,680) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 507.50 374.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 374.73 Td (\(281,533) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 374.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 361.73 Td (Other comprehensive loss) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 289.45 361.73 Td (\(56,907) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.15 361.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.45 361.73 Td (\(73,313) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.15 361.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.45 361.73 Td (\(4,356) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.15 361.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.15 361.73 Td (76,376) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 534.10 361.73 Td (\(58,200) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 361.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 348.73 Td (Comprehensive loss) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 285.45 348.73 Td (\(334,558) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.15 348.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.45 348.73 Td (\(370,738) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.15 348.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.45 348.73 Td (\(206,493) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.15 348.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.15 348.73 Td (572,056) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 348.73 Td (\(339,733) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 348.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 335.75 Td (Comprehensive loss attributable to noncontrolling interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.15 335.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.15 335.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.15 335.75 Td (4,103) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.15 335.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 335.75 Td (4,103) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 322.73 Td (Comprehensive loss attributable to CME Ltd.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 263.50 322.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 285.45 322.73 Td (\(334,558) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.15 322.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 322.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.45 322.73 Td (\(370,738) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.15 322.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.50 322.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.45 322.73 Td (\(202,390) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.15 322.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.50 322.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.15 322.73 Td (572,056) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 507.50 322.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 322.73 Td (\(335,630) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 322.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET endstream endobj 179 0 obj <>] /Rotate 0 /Contents 180 0 R>> endobj 180 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (87) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.00 720.60 Td (Condensed Consolidating Statements of Operations and Compr) Tj ET Q q 0 0 0 rg BT 266.21 720.60 Td (ehensive Income for) Tj ET Q q 0 0 0 rg BT 334.50 720.60 Td ( the year) Tj ET Q q 0 0 0 rg BT 364.12 720.60 Td ( ended December) Tj ET Q q 0 0 0 rg BT 423.07 720.60 Td ( 31, 2012) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 685.50 211.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 685.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 685.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 685.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 685.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 685.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 685.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 685.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 685.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 685.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 659.50 211.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 659.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 659.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 659.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 659.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 659.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 659.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 659.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 659.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 659.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 633.50 211.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 633.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 633.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 633.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 633.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 633.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 633.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 633.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 633.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 633.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 607.50 211.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 607.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 607.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 607.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 607.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 607.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 607.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 607.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 607.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 607.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 581.50 211.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 581.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 581.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 581.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 581.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 581.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 581.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 581.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 581.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 581.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 555.50 211.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 555.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 555.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 555.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 555.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 555.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 555.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 555.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 555.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 555.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 521.50 211.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 521.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 521.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 521.50 57.00 -13.00 re f /GS0 gs 0.8 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/GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 685.5 m 561.5 685.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 685.5 m 317.5 685.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 685.5 m 378.5 685.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 685.5 m 439.5 685.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 685.5 m 500.5 685.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 633.5 m 317.5 633.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 633.5 m 378.5 633.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 633.5 m 439.5 633.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 633.5 m 500.5 633.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 633.5 m 561.5 633.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 542.5 m 317.5 542.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 542.5 m 378.5 542.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 542.5 m 439.5 542.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 542.5 m 500.5 542.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 542.5 m 561.5 542.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 542.5 m 317.5 542.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 542.5 m 378.5 542.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 542.5 m 439.5 542.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 542.5 m 500.5 542.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 542.5 m 561.5 542.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 508.5 m 317.5 508.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 508.5 m 378.5 508.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 508.5 m 439.5 508.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 508.5 m 500.5 508.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 508.5 m 561.5 508.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 474.5 m 317.5 474.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 474.5 m 378.5 474.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 474.5 m 439.5 474.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 474.5 m 500.5 474.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 474.5 m 561.5 474.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 474.5 m 317.5 474.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 474.5 m 378.5 474.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 474.5 m 439.5 474.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 474.5 m 500.5 474.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 474.5 m 561.5 474.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 448.5 m 317.5 448.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 448.5 m 378.5 448.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 448.5 m 439.5 448.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 448.5 m 500.5 448.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 448.5 m 561.5 448.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 422.5 m 317.5 422.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 422.5 m 378.5 422.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 422.5 m 439.5 422.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 422.5 m 500.5 422.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 422.5 m 561.5 422.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 409.5 m 317.5 409.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 409.5 m 378.5 409.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 409.5 m 439.5 409.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 409.5 m 500.5 409.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 409.5 m 561.5 409.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 370.5 m 317.5 370.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 370.5 m 378.5 370.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 370.5 m 439.5 370.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 370.5 m 500.5 370.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 370.5 m 561.5 370.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 370.5 m 317.5 370.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 370.5 m 378.5 370.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 370.5 m 439.5 370.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 370.5 m 500.5 370.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 370.5 m 561.5 370.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 344.5 m 317.5 344.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 344.5 m 378.5 344.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 344.5 m 439.5 344.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 344.5 m 500.5 344.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 344.5 m 561.5 344.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 332.5 m 317.5 332.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 330.5 m 317.5 330.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 332.5 m 378.5 332.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 330.5 m 378.5 330.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 332.5 m 439.5 332.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 330.5 m 439.5 330.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 332.5 m 500.5 332.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 330.5 m 500.5 330.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 332.5 m 561.5 332.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 330.5 m 561.5 330.5 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 268.25 689.73 Td (Parent Issuer) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.25 697.73 Td (Guarantor) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 333.20 689.73 Td (Subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 419.10 705.73 Td (Non-) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.25 697.73 Td (Guarantor) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.20 689.73 Td (Subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 453.40 689.73 Td (Eliminations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 513.10 689.73 Td (Consolidated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 676.73 Td (Net revenues) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 263.00 676.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 306.30 676.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.00 676.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.30 676.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.00 676.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 410.25 676.73 Td (705,999) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.00 676.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.30 676.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 507.00 676.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.25 676.73 Td (705,999) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 663.73 Td (Cost of revenues) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 306.30 663.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.30 663.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 410.25 663.73 Td (544,819) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.30 663.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.25 663.73 Td (544,819) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 650.75 Td (Selling, general and administrative expenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.30 650.75 Td (19,999) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.30 650.75 Td (1,408) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.25 650.75 Td (103,359) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 650.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.25 650.75 Td (124,766) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 637.75 Td (Impairment charge) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 637.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 637.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.25 637.75 Td (516,203) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 637.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.25 637.75 Td (516,203) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 624.73 Td (Operating loss) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 289.60 624.73 Td (\(19,999) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.30 624.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.60 624.73 Td (\(1,408) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.30 624.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.60 624.73 Td (\(458,382) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.30 624.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.30 624.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.60 624.73 Td (\(479,789) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.30 624.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 611.75 Td (Interest income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.25 611.75 Td (144,057) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 363.30 611.75 Td (851) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 424.30 611.75 Td (562) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.60 611.75 Td (\(144,744) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.30 611.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.30 611.75 Td (726) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 598.75 Td (Interest expense) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.60 598.75 Td (\(96,582) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.30 598.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 346.60 598.75 Td (\(118,530) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 598.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.60 598.75 Td (\(57,286) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.30 598.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.25 598.75 Td (144,744) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.60 598.75 Td (\(127,654) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 598.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 585.75 Td (Loss on extinguishment of debt) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.60 585.75 Td (\(198) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.30 585.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 585.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.30 585.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 585.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 543.60 585.75 Td (\(198) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 585.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 572.75 Td (Foreign currency exchange gain / \(loss\), net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.30 572.75 Td (8,170) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.60 572.75 Td (\(7,402) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 572.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 572.75 Td (5,618) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 572.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 572.75 Td (6,386) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 559.75 Td (Change in fair value of derivatives) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.30 559.75 Td (48,453) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 559.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 424.30 559.75 Td (574) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 559.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 559.75 Td (49,027) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 546.75 Td (Other income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 546.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 546.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 546.75 Td (1,043) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 546.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 546.75 Td (1,043) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 533.73 Td (Income / \(loss\) from continuing operations before tax and) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 525.73 Td (loss from investment in subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 292.30 525.73 Td (83,901) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.60 525.73 Td (\(126,489) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.30 525.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.60 525.73 Td (\(507,871) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.30 525.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.30 525.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.60 525.73 Td (\(550,459) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.30 525.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 512.75 Td (Credit for income taxes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 512.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.30 512.75 Td (13,657) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 512.75 Td (1,094) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 512.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 512.75 Td (14,751) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 499.73 Td (Income / \(loss\) from continuing operations before loss from) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 491.73 Td (investment in subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 292.30 491.73 Td (83,901) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.60 491.73 Td (\(112,832) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.30 491.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.60 491.73 Td (\(506,777) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.30 491.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.30 491.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.60 491.73 Td (\(535,708) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.30 491.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 478.75 Td (Loss on investment in subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.60 478.75 Td (\(619,581) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.30 478.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 346.60 478.75 Td (\(506,749) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 478.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.30 478.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.25 478.75 Td (1,126,330) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.30 478.75 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 465.73 Td (Loss from continuing operations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 285.60 465.73 Td (\(535,680) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.30 465.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.60 465.73 Td (\(619,581) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.30 465.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.60 465.73 Td (\(506,777) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.30 465.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.25 465.73 Td (1,126,330) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.60 465.73 Td (\(535,708) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.30 465.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 453.45 Td (Loss from discontinued operations, net of tax ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 452.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 452.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.60 452.75 Td (\(10,685) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.30 452.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 452.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 452.75 Td (\(10,685) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 452.75 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 439.73 Td (Net loss) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 285.60 439.73 Td (\(535,680) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.30 439.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.60 439.73 Td (\(619,581) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.30 439.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.60 439.73 Td (\(517,462) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.30 439.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.25 439.73 Td (1,126,330) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.60 439.73 Td (\(546,393) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.30 439.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 426.75 Td (Net loss attributable to noncontrolling interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 426.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 426.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 414.30 426.75 Td (10,713) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 426.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 426.75 Td (10,713) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 413.73 Td (Net loss attributable to CME Ltd.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 263.00 413.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 285.60 413.73 Td (\(535,680) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.30 413.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.00 413.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.60 413.73 Td (\(619,581) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.30 413.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.00 413.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.60 413.73 Td (\(506,749) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.30 413.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.00 413.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.25 413.73 Td (1,126,330) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 507.00 413.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.60 413.73 Td (\(535,680) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.30 413.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 387.73 Td (Net loss) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 263.00 387.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 285.60 387.73 Td (\(535,680) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.30 387.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.00 387.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.60 387.73 Td (\(619,581) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.30 387.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.00 387.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.60 387.73 Td (\(517,462) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.30 387.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.00 387.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.25 387.73 Td (1,126,330) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 507.00 387.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.60 387.73 Td (\(546,393) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.30 387.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 374.73 Td (Other comprehensive income) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 292.30 374.73 Td (28,555) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.30 374.73 Td (28,555) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.30 374.73 Td (51,333) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.60 374.73 Td (\(79,792) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 497.30 374.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.30 374.73 Td (28,651) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 361.73 Td (Comprehensive loss) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 285.60 361.73 Td (\(507,125) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.30 361.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.60 361.73 Td (\(591,026) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.30 361.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.60 361.73 Td (\(466,129) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.30 361.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.25 361.73 Td (1,046,538) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.60 361.73 Td (\(517,742) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.30 361.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 348.75 Td (Comprehensive loss attributable to noncontrolling interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 348.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 348.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 414.30 348.75 Td (10,617) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 348.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 348.75 Td (10,617) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 335.73 Td (Comprehensive loss attributable to CME Ltd.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 263.00 335.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 285.60 335.73 Td (\(507,125) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.30 335.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.00 335.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.60 335.73 Td (\(591,026) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.30 335.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.00 335.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.60 335.73 Td (\(455,512) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.30 335.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.00 335.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.25 335.73 Td (1,046,538) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 507.00 335.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.60 335.73 Td (\(507,125) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.30 335.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET endstream endobj 181 0 obj <>] /Rotate 0 /Contents 182 0 R>> endobj 182 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (88) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.00 720.60 Td (Condensed Consolidating Statements of Cash Flows for) Tj ET Q q 0 0 0 rg BT 238.20 720.60 Td ( the year) Tj ET Q q 0 0 0 rg BT 267.82 720.60 Td ( ended December) Tj ET Q q 0 0 0 rg BT 326.77 720.60 Td ( 31, 2014) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 685.50 211.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 685.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 685.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 685.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 685.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 685.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 685.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 685.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 685.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 685.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 659.50 211.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 659.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 659.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 659.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 659.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 659.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 659.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 659.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 659.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 659.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 633.50 211.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 633.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 633.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 633.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 633.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 633.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 633.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 633.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 633.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 633.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 607.50 211.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 607.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 607.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 607.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 607.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 607.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 607.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 607.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 607.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 607.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 581.50 211.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 581.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 581.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 581.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 581.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 581.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 581.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 581.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 581.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 581.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 555.50 211.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 555.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 555.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 555.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 555.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 555.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 555.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 555.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 555.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 555.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 529.50 211.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 529.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 529.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 529.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 529.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 529.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 529.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 529.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 529.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 529.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 503.50 211.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 503.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 503.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 503.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 503.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 503.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 503.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 503.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 503.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 503.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 477.50 211.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 477.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 477.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 477.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 477.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 477.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 477.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 477.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 477.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 477.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 451.50 211.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 451.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 451.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 451.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 451.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 451.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 451.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 451.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 451.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 451.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 425.50 211.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 425.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 425.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 425.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 425.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 425.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 425.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 425.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 425.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 425.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 399.50 211.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 399.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 399.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 399.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 399.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 399.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 399.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 399.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 399.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 399.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 373.50 211.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 373.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 373.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 373.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 373.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 373.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 373.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 373.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 373.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 373.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 347.50 211.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 347.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 347.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 347.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 347.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 347.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 347.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 347.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 347.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 347.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 321.50 211.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 321.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 321.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 321.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 321.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 321.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 321.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 321.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 321.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 321.50 57.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 685.5 m 561.5 685.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 685.5 m 317.5 685.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 685.5 m 378.5 685.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 685.5 m 439.5 685.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 685.5 m 500.5 685.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 685.5 m 561.5 685.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 607.5 m 317.5 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 607.5 m 378.5 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 607.5 m 439.5 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 607.5 m 500.5 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 607.5 m 561.5 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 607.5 m 317.5 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 607.5 m 378.5 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 607.5 m 439.5 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 607.5 m 500.5 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 607.5 m 561.5 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 451.5 m 317.5 451.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 451.5 m 378.5 451.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 451.5 m 439.5 451.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 451.5 m 500.5 451.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 451.5 m 561.5 451.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 451.5 m 317.5 451.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 451.5 m 378.5 451.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 451.5 m 439.5 451.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 451.5 m 500.5 451.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 451.5 m 561.5 451.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 321.5 m 317.5 321.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 309.5 m 317.5 309.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 307.5 m 317.5 307.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 321.5 m 378.5 321.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 309.5 m 378.5 309.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 307.5 m 378.5 307.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 321.5 m 439.5 321.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 309.5 m 439.5 309.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 307.5 m 439.5 307.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 321.5 m 500.5 321.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 309.5 m 500.5 309.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 307.5 m 500.5 307.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 321.5 m 561.5 321.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 309.5 m 561.5 309.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 307.5 m 561.5 307.5 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 268.25 689.73 Td (Parent Issuer) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.25 697.73 Td (Guarantor) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 333.20 689.73 Td (Subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 419.10 705.73 Td (Non-) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.25 697.73 Td (Guarantor) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.20 689.73 Td (Subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 453.40 689.73 Td (Eliminations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 513.10 689.73 Td (Consolidated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 676.73 Td (Net cash generated from / \(used in\) operating activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 263.00 676.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 292.30 676.73 Td (67,171) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.00 676.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.60 676.73 Td (\(132,570) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.30 676.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.00 676.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 424.30 676.73 Td (157) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.00 676.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.30 676.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 507.00 676.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.60 676.73 Td (\(65,242) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.30 676.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 663.73 Td (CASH FLOWS FROM INVESTING ACTIVITIES:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 650.75 Td (Purchase of property, plant and equipment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 650.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 650.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.60 650.75 Td (\(28,685) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.30 650.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 650.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 650.75 Td (\(28,685) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 650.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 637.75 Td (Disposal of property, plant and equipment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 637.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 637.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 424.30 637.75 Td (137) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 637.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.30 637.75 Td (137) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 624.75 Td (Intercompany investing receipts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.25 624.75 Td (703,941) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.25 624.75 Td (356,217) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.30 624.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.60 624.75 Td (\(1,060,158) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.30 624.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.30 624.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 611.75 Td (Intercompany investing payments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.60 611.75 Td (\(900,009) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.30 611.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 346.60 611.75 Td (\(418,504) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 611.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.60 611.75 Td (\(260,529) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.30 611.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.25 611.75 Td (1,579,042) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 550.30 611.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 598.73 Td (Net cash used in investing activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 285.60 598.73 Td (\(196,068) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.30 598.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.60 598.73 Td (\(62,287) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.30 598.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.60 598.73 Td (\(289,077) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.30 598.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.25 598.73 Td (518,884) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.60 598.73 Td (\(28,548) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.30 598.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 572.73 Td (CASH FLOWS FROM FINANCING ACTIVITIES:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 559.75 Td (Repayments of Senior Debt) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.60 559.75 Td (\(400,673) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.30 559.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 559.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.60 559.75 Td (\(312,246) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.30 559.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 559.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.60 559.75 Td (\(712,919) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 559.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 546.75 Td (Debt transactions costs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.60 546.75 Td (\(12,396) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.30 546.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 546.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.60 546.75 Td (\(1,810) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.30 546.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 546.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 546.75 Td (\(14,206) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 546.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 533.75 Td (Issuance of Senior Debt) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.25 533.75 Td (550,421) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 533.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.30 533.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 533.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.25 533.75 Td (550,421) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 520.75 Td (Proceeds from credit facilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.30 520.75 Td (25,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 520.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.30 520.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 520.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 520.75 Td (25,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 507.75 Td (Payment of credit facilities and capital leases) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 507.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 507.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.60 507.75 Td (\(1,080) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.30 507.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 507.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.60 507.75 Td (\(1,080) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 507.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 494.75 Td (Issuance of common stock warrants) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.25 494.75 Td (191,825) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 494.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.30 494.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 494.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.25 494.75 Td (191,825) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 481.75 Td (Dividends paid to holders of noncontrolling interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 481.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 481.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.60 481.75 Td (\(46) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.30 481.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 481.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.60 481.75 Td (\(46) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 481.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 468.75 Td (Intercompany financing receipts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 468.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.25 468.75 Td (634,862) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.25 468.75 Td (720,248) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.60 468.75 Td (\(1,355,110) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.30 468.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.30 468.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 455.75 Td (Intercompany financing payments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.60 455.75 Td (\(243,778) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.30 455.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 346.60 455.75 Td (\(443,412) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 455.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.60 455.75 Td (\(149,036) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.30 455.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.25 455.75 Td (836,226) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 550.30 455.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 442.73 Td (Net cash provided by financing activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 288.25 442.73 Td (110,399) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.25 442.73 Td (191,450) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 410.25 442.73 Td (256,030) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.60 442.73 Td (\(518,884) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 497.30 442.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.30 442.73 Td (38,995) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 417.45 Td (Net cash used in discontinued operations - operating activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.60 416.75 Td (\(350) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.30 416.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 416.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.60 416.75 Td (\(1,058) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.30 416.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 416.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.60 416.75 Td (\(1,408) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 416.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 404.45 Td (Net cash used in discontinued operations - investing activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 403.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 403.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.60 403.75 Td (\(228) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.30 403.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 403.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 543.60 403.75 Td (\(228) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 403.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 391.45 Td (Net cash used in discontinued operations - financing activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 390.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 390.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.60 390.75 Td (\(942) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.30 390.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 390.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 543.60 390.75 Td (\(942) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 390.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 364.75 Td (Impact of exchange rate fluctuations on cash) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 364.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 363.30 364.75 Td (916) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.60 364.75 Td (\(11,567) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.30 364.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 364.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 364.75 Td (\(10,651) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 364.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 338.75 Td (Net decrease in cash and cash equivalents) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.60 338.75 Td (\(18,848) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.30 338.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.60 338.75 Td (\(2,491) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 338.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.60 338.75 Td (\(46,685) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.30 338.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 338.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 338.75 Td (\(68,024) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 338.75 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.00 325.73 Td (CASH AND CASH EQUIVALENTS, beginning of period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 292.30 325.73 Td (19,461) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 357.30 325.73 Td (5,422) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.30 325.73 Td (77,439) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.30 325.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.25 325.73 Td (102,322) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.00 312.73 Td (CASH AND CASH EQUIVALENTS, end of period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 263.00 312.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 302.30 312.73 Td (613) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.00 312.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 357.30 312.73 Td (2,931) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.00 312.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.30 312.73 Td (30,754) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.00 312.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.30 312.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 507.00 312.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.30 312.73 Td (34,298) Tj ET Q BT /F1 8.00 Tf ET endstream endobj 183 0 obj <>] /Rotate 0 /Contents 184 0 R>> endobj 184 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (89) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.00 720.60 Td (Condensed Consolidating Statements of Cash Flows for) Tj ET Q q 0 0 0 rg BT 238.20 720.60 Td ( the year) Tj ET Q q 0 0 0 rg BT 267.82 720.60 Td ( ended 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RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 412.5 m 500.5 412.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 412.5 m 561.5 412.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 295.5 m 317.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 283.5 m 317.5 283.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 281.5 m 317.5 281.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 295.5 m 378.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 283.5 m 378.5 283.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 281.5 m 378.5 281.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 295.5 m 439.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 283.5 m 439.5 283.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 281.5 m 439.5 281.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 295.5 m 500.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 283.5 m 500.5 283.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 281.5 m 500.5 281.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 295.5 m 561.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 283.5 m 561.5 283.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 281.5 m 561.5 281.5 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 268.25 689.73 Td (Parent Issuer) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.25 697.73 Td (Guarantor) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 333.20 689.73 Td (Subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 419.10 705.73 Td (Non-) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.25 697.73 Td (Guarantor) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.20 689.73 Td (Subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 453.40 689.73 Td (Eliminations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 513.10 689.73 Td (Consolidated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 676.73 Td (Net cash \(used in\) / generated from operating activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 263.00 676.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 289.60 676.73 Td (\(80,304) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.30 676.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.00 676.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.25 676.73 Td (288,651) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.00 676.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.60 676.73 Td (\(269,417) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.30 676.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.00 676.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.30 676.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 507.00 676.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.60 676.73 Td (\(61,070) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.30 676.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 663.73 Td (CASH FLOWS FROM INVESTING ACTIVITIES:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 650.75 Td (Purchase of property, plant and equipment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 650.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 650.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.60 650.75 Td (\(30,118) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.30 650.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 650.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 650.75 Td (\(30,118) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 650.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 637.75 Td (Disposal of property, plant and equipment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 637.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 637.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 424.30 637.75 Td (283) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 637.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.30 637.75 Td (283) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 624.75 Td (Intercompany investing receipts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.25 624.75 Td (609,801) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.30 624.75 Td (9,323) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.30 624.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.60 624.75 Td (\(619,124) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.30 624.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.30 624.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 611.75 Td (Intercompany investing payments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.60 611.75 Td (\(580,533) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.30 611.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 346.60 611.75 Td (\(266,355) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 611.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.30 611.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.25 611.75 Td (846,888) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 550.30 611.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 598.73 Td (Net cash used in investing activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 292.30 598.73 Td (29,268) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.60 598.73 Td (\(257,032) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.30 598.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 411.60 598.73 Td (\(29,835) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.30 598.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.25 598.73 Td (227,764) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.60 598.73 Td (\(29,835) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.30 598.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 572.73 Td (CASH FLOWS FROM FINANCING ACTIVITIES:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 559.75 Td (Repayments of Senior Debt) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.60 559.75 Td (\(310,322) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.30 559.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 559.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.30 559.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 559.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.60 559.75 Td (\(310,322) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 559.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 546.75 Td (Debt transactions costs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.60 546.75 Td (\(785) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.30 546.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 546.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.30 546.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 546.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 543.60 546.75 Td (\(785) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 546.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 533.75 Td (Change in restricted cash) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.30 533.75 Td (20,467) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 533.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 424.30 533.75 Td (138) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 533.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 533.75 Td (20,605) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 520.75 Td (Proceeds from credit facilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 520.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 520.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.30 520.75 Td (40) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 520.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.30 520.75 Td (40) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 507.75 Td (Payment of credit facilities and capital leases) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 507.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 507.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.60 507.75 Td (\(1,648) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.30 507.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 507.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.60 507.75 Td (\(1,648) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 507.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 494.75 Td (Issuance of common stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.25 494.75 Td (157,116) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 494.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.30 494.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 494.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.25 494.75 Td (157,116) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 481.75 Td (Issuance of preferred stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.25 481.75 Td (200,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 481.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.30 481.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 481.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.25 481.75 Td (200,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 468.75 Td (Equity issuance costs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.60 468.75 Td (\(5,410) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.30 468.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 468.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.30 468.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 468.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.60 468.75 Td (\(5,410) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 468.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 455.75 Td (Proceeds from exercise of stock options) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 455.75 Td (59) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 455.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.30 455.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 455.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.30 455.75 Td (59) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 442.75 Td (Dividends paid to holders of noncontrolling interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 442.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 442.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.60 442.75 Td (\(411) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.30 442.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 442.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 543.60 442.75 Td (\(411) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 442.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 429.75 Td (Intercompany financing receipts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 429.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.25 429.75 Td (580,533) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.25 429.75 Td (266,355) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.60 429.75 Td (\(846,888) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.30 429.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.30 429.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 416.75 Td (Intercompany financing payments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 416.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 346.60 416.75 Td (\(609,801) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 416.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.60 416.75 Td (\(9,323) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.30 416.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.25 416.75 Td (619,124) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 550.30 416.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 403.73 Td (Net cash provided / \(used in\) by financing activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 292.30 403.73 Td (61,125) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.60 403.73 Td (\(29,268) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.30 403.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 410.25 403.73 Td (255,151) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.60 403.73 Td (\(227,764) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 497.30 403.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.30 403.73 Td (59,244) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 378.45 Td (Net cash used in discontinued operations - operating activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 377.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 377.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.60 377.75 Td (\(1,952) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.30 377.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 377.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.60 377.75 Td (\(1,952) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 377.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 365.45 Td (Net cash used in discontinued operations - investing activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 364.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 364.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.60 364.75 Td (\(301) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.30 364.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 364.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 543.60 364.75 Td (\(301) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 364.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 352.45 Td (Net cash provided by discontinued operations - financing ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 344.45 Td (activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 344.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.30 344.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.30 344.75 Td (77) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 344.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.30 344.75 Td (77) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 325.75 Td (Impact of exchange rate fluctuations on cash) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 325.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 363.30 325.75 Td (235) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.60 325.75 Td (\(619) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.30 325.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 325.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 543.60 325.75 Td (\(384) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 325.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 312.75 Td (Net increase / \(decrease\) in cash and cash equivalents) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.30 312.75 Td (10,089) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.30 312.75 Td (2,586) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.60 312.75 Td (\(46,896) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.30 312.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 312.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 312.75 Td (\(34,221) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 312.75 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.00 299.73 Td (CASH AND CASH EQUIVALENTS, beginning of period) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.30 299.75 Td (9,372) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.30 299.75 Td (2,836) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.25 299.75 Td (124,335) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 299.75 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.25 299.73 Td (136,543) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.00 286.73 Td (CASH AND CASH EQUIVALENTS, end of period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 263.00 286.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 292.30 286.73 Td (19,461) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.00 286.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 357.30 286.73 Td (5,422) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.00 286.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.30 286.73 Td (77,439) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.00 286.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.30 286.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 507.00 286.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.25 286.73 Td (102,322) Tj ET Q BT /F1 8.00 Tf ET endstream endobj 185 0 obj <>] /Rotate 0 /Contents 186 0 R>> endobj 186 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 763.70 Td (CENTRAL) Tj ET Q q 0 0 0 rg BT 248.68 763.70 Td ( EUROPEAN MEDIA) Tj ET Q q 0 0 0 rg BT 324.68 763.70 Td ( ENTERPRISES L) Tj ET Q q 0 0 0 rg BT 388.86 763.70 Td (TD.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 201.45 754.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 230.43 754.10 Td (T) Tj ET Q q 0 0 0 rg BT 235.62 754.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 291.70 754.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 355.04 754.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 366.24 754.10 Td (A) Tj ET Q q 0 0 0 rg BT 371.42 754.10 Td (TEMENTS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 195.80 744.50 Td (\(T) Tj ET Q q 0 0 0 rg BT 203.07 744.50 Td (abular) Tj ET Q q 0 0 0 rg BT 225.59 744.50 Td ( amounts in US$ 000) Tj ET Q q 0 0 0 rg BT 298.20 744.50 Td (s, except shar) Tj ET Q q 0 0 0 rg BT 344.05 744.50 Td (e and per) Tj ET Q q 0 0 0 rg BT 375.90 744.50 Td ( shar) Tj ET Q q 0 0 0 rg BT 392.87 744.50 Td (e data\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (90) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.00 720.60 Td (Condensed Consolidating Statements of Cash Flows for) Tj ET Q q 0 0 0 rg BT 238.20 720.60 Td ( the year) Tj ET Q q 0 0 0 rg BT 267.82 720.60 Td ( ended 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m 317.5 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 607.5 m 378.5 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 607.5 m 439.5 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 607.5 m 500.5 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 607.5 m 561.5 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 425.5 m 317.5 425.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 425.5 m 378.5 425.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 425.5 m 439.5 425.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 425.5 m 500.5 425.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 425.5 m 561.5 425.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 425.5 m 317.5 425.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 425.5 m 378.5 425.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 425.5 m 439.5 425.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 425.5 m 500.5 425.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 425.5 m 561.5 425.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 315.5 m 317.5 315.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 303.5 m 317.5 303.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 301.5 m 317.5 301.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 315.5 m 378.5 315.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 303.5 m 378.5 303.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 301.5 m 378.5 301.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 315.5 m 439.5 315.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 303.5 m 439.5 303.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 301.5 m 439.5 301.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 315.5 m 500.5 315.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 303.5 m 500.5 303.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 301.5 m 500.5 301.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 315.5 m 561.5 315.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 303.5 m 561.5 303.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 301.5 m 561.5 301.5 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 268.25 689.73 Td (Parent Issuer) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.25 697.73 Td (Guarantor) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 333.20 689.73 Td (Subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 419.10 705.73 Td (Non-) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.25 697.73 Td (Guarantor) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.20 689.73 Td (Subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 453.40 689.73 Td (Eliminations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 513.10 689.73 Td (Consolidated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 676.73 Td (Net cash generated from / \(used in\) operating activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 263.00 676.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 296.30 676.73 Td (5,223) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.95 676.73 Td (\(31,744) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 374.65 676.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.95 676.73 Td (\(1,149) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 435.65 676.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 488.65 676.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.95 676.73 Td (\(27,670) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 557.65 676.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 663.73 Td (CASH FLOWS FROM INVESTING ACTIVITIES:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 650.75 Td (Purchase of property, plant and equipment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 650.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.65 650.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.95 650.75 Td (\(31,327) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.65 650.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.65 650.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.95 650.75 Td (\(31,327) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 557.65 650.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 637.75 Td (Disposal of property, plant and equipment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 637.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.65 637.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.65 637.75 Td (236) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.65 637.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 545.65 637.75 Td (236) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 624.75 Td (Intercompany investing payments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.60 624.75 Td (\(321,212) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.30 624.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 345.95 624.75 Td (\(303,558) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.65 624.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.65 624.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 470.65 624.75 Td (624,770) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 549.65 624.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 611.75 Td (Intercompany investing receipts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.25 611.75 Td (319,669) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 348.65 611.75 Td (259,487) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.65 611.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.95 611.75 Td (\(579,156) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.65 611.75 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 549.65 611.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 598.73 Td (Net cash used in investing activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 293.60 598.73 Td (\(1,543) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.30 598.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.95 598.73 Td (\(44,071) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 374.65 598.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 410.95 598.73 Td (\(31,091) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 435.65 598.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 474.65 598.73 Td (45,614) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.95 598.73 Td (\(31,091) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 557.65 598.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 572.73 Td (CASH FLOWS FROM FINANCING ACTIVITIES:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.00 572.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 559.75 Td (Repayments of Senior Debt) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.60 559.75 Td (\(290,135) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.30 559.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.65 559.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.65 559.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.65 559.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.95 559.75 Td (\(290,135) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 557.65 559.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 546.75 Td (Debt transactions costs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.60 546.75 Td (\(4,350) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.30 546.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.65 546.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 414.95 546.75 Td (\(2,650) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.65 546.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.65 546.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.95 546.75 Td (\(7,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 557.65 546.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 533.75 Td (Issuance of Senior Debt) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.25 533.75 Td (135,949) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.65 533.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.65 533.75 Td (92,941) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.65 533.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.65 533.75 Td (228,890) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 520.75 Td (Change in restricted cash) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.60 520.75 Td (\(20,972) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.30 520.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.65 520.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 424.95 520.75 Td (\(10) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.65 520.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.65 520.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.95 520.75 Td (\(20,982) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 557.65 520.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 507.75 Td (Proceeds from credit facilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.25 507.75 Td (180,179) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.65 507.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.65 507.75 Td (11,080) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.65 507.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.65 507.75 Td (191,259) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 494.75 Td (Payment of credit facilities and capital leases) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.60 494.75 Td (\(15,330) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.30 494.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.65 494.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.95 494.75 Td (\(85,866) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.65 494.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.65 494.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.95 494.75 Td (\(101,196) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 557.65 494.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 481.75 Td (Issuance of common stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.30 481.75 Td (15,033) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.65 481.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.65 481.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.65 481.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 535.65 481.75 Td (15,033) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 468.75 Td (Equity issuance costs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.60 468.75 Td (\(2,942) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.30 468.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.65 468.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.65 468.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.65 468.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.95 468.75 Td (\(2,942) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 557.65 468.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 455.75 Td (Dividends paid to holders of noncontrolling interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 455.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.65 455.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.95 455.75 Td (\(308) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.65 455.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.65 455.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 542.95 455.75 Td (\(308) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 557.65 455.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 442.75 Td (Intercompany financing receipts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 442.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 348.65 442.75 Td (321,212) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.65 442.75 Td (303,558) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.95 442.75 Td (\(624,770) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.65 442.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 549.65 442.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 429.75 Td (Intercompany financing payments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 429.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 345.95 429.75 Td (\(294,222) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.65 429.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.95 429.75 Td (\(284,934) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.65 429.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 470.65 429.75 Td (579,156) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 549.65 429.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 416.73 Td (Net cash \(used in\) / provided by financing activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 293.60 416.73 Td (\(2,568) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 314.30 416.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 352.65 416.73 Td (26,990) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 413.65 416.73 Td (33,811) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.95 416.73 Td (\(45,614) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.65 416.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 535.65 416.73 Td (12,619) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 390.75 Td (Net cash used in discontinued operations - operating activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 390.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.65 390.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 414.95 390.75 Td (\(1,122) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.65 390.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.65 390.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.95 390.75 Td (\(1,122) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 557.65 390.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 378.45 Td (Net cash used in discontinued operations - investing activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 377.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.65 377.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 414.95 377.75 Td (\(1,335) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.65 377.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.65 377.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.95 377.75 Td (\(1,335) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 557.65 377.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 365.45 Td (Net cash used in discontinued operations - financing activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 364.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.65 364.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.95 364.75 Td (\(723) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.65 364.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.65 364.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 542.95 364.75 Td (\(723) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 557.65 364.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 345.75 Td (Impact of exchange rate fluctuations on cash) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 345.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.65 345.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.65 345.75 Td (4,564) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.65 345.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.65 345.75 Td (4,564) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 332.75 Td (Net increase / \(decrease\) in cash and cash equivalents) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.30 332.75 Td (1,112) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.95 332.75 Td (\(48,825) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.65 332.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.65 332.75 Td (2,955) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.65 332.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.95 332.75 Td (\(44,758) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 557.65 332.75 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.00 319.73 Td (CASH AND CASH EQUIVALENTS, beginning of period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 296.30 319.73 Td (8,260) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 352.65 319.73 Td (51,661) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 409.65 319.73 Td (121,380) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 488.65 319.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 531.65 319.73 Td (181,301) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.00 306.73 Td (CASH AND CASH EQUIVALENTS, end of period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 263.00 306.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 296.30 306.73 Td (9,372) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.00 306.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 356.65 306.73 Td (2,836) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.00 306.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 409.65 306.73 Td (124,335) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.00 306.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 488.65 306.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 507.00 306.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 531.65 306.73 Td (136,543) Tj ET Q BT /F1 8.00 Tf ET BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 265.80 Td (ITEM ) Tj ET Q q 0 0 0 rg BT 72.84 265.80 Td (9 ) Tj ET Q q 0 0 0 rg BT 99.00 265.80 Td (CHANGES ) Tj ET Q q 0 0 0 rg BT 140.56 265.80 Td (IN ) Tj ET Q q 0 0 0 rg BT 151.01 265.80 Td (AND ) Tj ET Q q 0 0 0 rg BT 170.34 265.80 Td (DISAGREEMENTS ) Tj ET Q q 0 0 0 rg BT 242.44 265.80 Td (WITH ) Tj ET Q q 0 0 0 rg BT 266.67 265.80 Td (ACCOUNT) Tj ET Q q 0 0 0 rg BT 306.52 265.80 Td (ANTS ) Tj ET Q q 0 0 0 rg BT 329.86 265.80 Td (ON ) Tj ET Q q 0 0 0 rg BT 343.42 265.80 Td (ACCOUNTING ) Tj ET Q q 0 0 0 rg BT 400.54 265.80 Td (AND ) Tj ET Q q 0 0 0 rg BT 419.87 265.80 Td (FINANCIAL) Tj ET Q q 0 0 0 rg BT 464.76 265.80 Td ( ) Tj ET Q q 0 0 0 rg BT 466.76 265.80 Td (DISCLOSURE) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 250.20 Td (None.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 228.60 Td (Item ) Tj ET Q q 0 0 0 rg BT 67.49 228.60 Td (9A. ) Tj ET Q q 0 0 0 rg BT 94.50 228.60 Td (CONTROLS ) Tj ET Q q 0 0 0 rg BT 140.96 228.60 Td (AND ) Tj ET Q q 0 0 0 rg BT 160.29 228.60 Td (PROCEDURES) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 210.00 Td (Evaluation ) Tj ET Q q 0 0 0 rg BT 88.84 210.00 Td (of ) Tj ET Q q 0 0 0 rg BT 97.51 210.00 Td (Disclosur) Tj ET Q q 0 0 0 rg BT 129.36 210.00 Td (e ) Tj ET Q q 0 0 0 rg BT 134.91 210.00 Td (Contr) Tj ET Q q 0 0 0 rg BT 155.21 210.00 Td (ols ) Tj ET Q q 0 0 0 rg BT 166.55 210.00 Td (and ) Tj ET Q q 0 0 0 rg BT 181.45 210.00 Td (Pr) Tj ET Q q 0 0 0 rg BT 189.74 210.00 Td (ocedur) Tj ET Q q 0 0 0 rg BT 213.14 210.00 Td (es) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 194.40 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 194.40 Td (e ) Tj ET Q q 0 0 0 rg BT 61.32 194.40 Td (have ) Tj ET Q q 0 0 0 rg BT 77.77 194.40 Td (established ) Tj ET Q q 0 0 0 rg BT 114.68 194.40 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 148.47 194.40 Td (controls ) Tj ET Q q 0 0 0 rg BT 175.60 194.40 Td (and ) Tj ET Q q 0 0 0 rg BT 188.50 194.40 Td (procedures ) Tj ET Q q 0 0 0 rg BT 224.95 194.40 Td (designed ) Tj ET Q q 0 0 0 rg BT 254.75 194.40 Td (to ) Tj ET Q q 0 0 0 rg BT 262.32 194.40 Td (ensure ) Tj ET Q q 0 0 0 rg BT 284.56 194.40 Td (that ) Tj ET Q q 0 0 0 rg BT 297.91 194.40 Td (information ) Tj ET Q q 0 0 0 rg BT 337.04 194.40 Td (required ) Tj ET Q q 0 0 0 rg BT 365.04 194.40 Td (to ) Tj ET Q q 0 0 0 rg BT 372.62 194.40 Td (be ) Tj ET Q q 0 0 0 rg BT 381.53 194.40 Td (disclosed ) Tj ET Q q 0 0 0 rg BT 412.66 194.40 Td (in ) Tj ET Q q 0 0 0 rg BT 420.23 194.40 Td (our ) Tj ET Q q 0 0 0 rg BT 431.95 194.40 Td (Annual ) Tj ET Q q 0 0 0 rg BT 456.86 194.40 Td (Report ) Tj ET Q q 0 0 0 rg BT 479.99 194.40 Td (on ) Tj ET Q q 0 0 0 rg BT 489.35 194.40 Td (Form ) Tj ET Q q 0 0 0 rg BT 508.04 194.40 Td (10-K ) Tj ET Q q 0 0 0 rg BT 525.83 194.40 Td (is ) Tj ET Q q 0 0 0 rg BT 532.52 194.40 Td (recorded, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 184.85 Td (processed, ) Tj ET Q q 0 0 0 rg BT 85.57 184.85 Td (summarized ) Tj ET Q q 0 0 0 rg BT 127.20 184.85 Td (and ) Tj ET Q q 0 0 0 rg BT 141.27 184.85 Td (reported ) Tj ET Q q 0 0 0 rg BT 170.45 184.85 Td (within ) Tj ET Q q 0 0 0 rg BT 193.43 184.85 Td (the ) Tj ET Q q 0 0 0 rg BT 205.73 184.85 Td (specified ) Tj ET Q q 0 0 0 rg BT 237.13 184.85 Td (time ) Tj ET Q q 0 0 0 rg BT 253.88 184.85 Td (periods ) Tj ET Q q 0 0 0 rg BT 279.95 184.85 Td (and ) Tj ET Q q 0 0 0 rg BT 294.03 184.85 Td (is ) Tj ET Q q 0 0 0 rg BT 301.89 184.85 Td (designed ) Tj ET Q q 0 0 0 rg BT 332.86 184.85 Td (to ) Tj ET Q q 0 0 0 rg BT 341.61 184.85 Td (ensure ) Tj ET Q q 0 0 0 rg BT 365.02 184.85 Td (that ) Tj ET Q q 0 0 0 rg BT 379.54 184.85 Td (information ) Tj ET Q q 0 0 0 rg BT 419.84 184.85 Td (required ) Tj ET Q q 0 0 0 rg BT 449.02 184.85 Td (to ) Tj ET Q q 0 0 0 rg BT 457.77 184.85 Td (be ) Tj ET Q q 0 0 0 rg BT 467.84 184.85 Td (disclosed ) Tj ET Q q 0 0 0 rg BT 500.14 184.85 Td (is ) Tj ET Q q 0 0 0 rg BT 508.01 184.85 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 550.96 184.85 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 175.20 Td (communicated ) Tj ET Q q 0 0 0 rg BT 98.33 175.20 Td (to ) Tj ET Q q 0 0 0 rg BT 106.29 175.20 Td (management, ) Tj ET Q q 0 0 0 rg BT 150.90 175.20 Td (including ) Tj ET Q q 0 0 0 rg BT 182.86 175.20 Td (the ) Tj ET Q q 0 0 0 rg BT 194.37 175.20 Td (co-Chief ) Tj ET Q q 0 0 0 rg BT 224.10 175.20 Td (Executive ) Tj ET Q q 0 0 0 rg BT 257.82 175.20 Td (Of) Tj ET Q q 0 0 0 rg BT 266.12 175.20 Td (ficers ) Tj ET Q q 0 0 0 rg BT 285.62 175.20 Td (and ) Tj ET Q q 0 0 0 rg BT 298.91 175.20 Td (the ) Tj ET Q q 0 0 0 rg BT 310.42 175.20 Td (Chief ) Tj ET Q q 0 0 0 rg BT 329.93 175.20 Td (Financial ) Tj ET Q q 0 0 0 rg BT 361.44 175.20 Td (Of) Tj ET Q q 0 0 0 rg BT 369.74 175.20 Td (ficer ) Tj ET Q q 0 0 0 rg BT 386.13 175.20 Td (to ) Tj ET Q q 0 0 0 rg BT 394.09 175.20 Td (allow ) Tj ET Q q 0 0 0 rg BT 413.60 175.20 Td (timely ) Tj ET Q q 0 0 0 rg BT 435.78 175.20 Td (decisions ) Tj ET Q q 0 0 0 rg BT 467.29 175.20 Td (regarding ) Tj ET Q q 0 0 0 rg BT 499.68 175.20 Td (required ) Tj ET Q q 0 0 0 rg BT 528.07 175.20 Td (disclosure.) 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BT 187.39 651.60 Td (included ) Tj ET Q q 0 0 0 rg BT 216.70 651.60 Td (in ) Tj ET Q q 0 0 0 rg BT 224.69 651.60 Td (the ) Tj ET Q q 0 0 0 rg BT 236.23 651.60 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 284.65 651.60 Td (Management) Tj ET Q q 0 0 0 rg BT 328.63 651.60 Td (s ) Tj ET Q q 0 0 0 rg BT 333.51 651.60 Td (Report ) Tj ET Q q 0 0 0 rg BT 357.05 651.60 Td (on ) Tj ET Q q 0 0 0 rg BT 366.82 651.60 Td (Internal ) Tj ET Q q 0 0 0 rg BT 393.46 651.60 Td (Control ) Tj ET Q q 0 0 0 rg BT 419.68 651.60 Td (Over ) Tj ET Q q 0 0 0 rg BT 437.44 651.60 Td (Financial ) Tj ET Q q 0 0 0 rg BT 468.97 651.60 Td (Reporting. ) Tj ET Q q 0 0 0 rg BT 504.74 651.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 518.95 651.60 Td (responsibility ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 642.00 Td (is ) Tj ET Q q 0 0 0 rg BT 56.84 642.00 Td (to ) Tj ET Q q 0 0 0 rg BT 65.06 642.00 Td (express ) Tj ET Q q 0 0 0 rg BT 91.05 642.00 Td (an ) Tj ET Q q 0 0 0 rg BT 100.60 642.00 Td (opinion ) Tj ET Q q 0 0 0 rg BT 127.05 642.00 Td (on ) Tj ET Q q 0 0 0 rg BT 137.05 642.00 Td (the ) Tj ET Q q 0 0 0 rg BT 148.82 642.00 Td (Company's ) Tj ET Q q 0 0 0 rg BT 186.48 642.00 Td (internal ) Tj ET Q q 0 0 0 rg BT 212.92 642.00 Td (control ) Tj ET Q q 0 0 0 rg BT 237.58 642.00 Td (over ) Tj ET Q q 0 0 0 rg BT 253.79 642.00 Td (financial ) Tj ET Q q 0 0 0 rg BT 283.78 642.00 Td (reporting ) Tj ET Q q 0 0 0 rg BT 315.10 642.00 Td (based ) Tj ET Q q 0 0 0 rg BT 335.32 642.00 Td (on ) Tj ET Q q 0 0 0 rg BT 345.32 642.00 Td (our ) Tj ET Q q 0 0 0 rg BT 357.98 642.00 Td (audit.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 626.40 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 626.40 Td (e ) Tj ET Q q 0 0 0 rg BT 62.18 626.40 Td (conducted ) Tj ET Q q 0 0 0 rg BT 97.28 626.40 Td (our ) Tj ET Q q 0 0 0 rg BT 110.17 626.40 Td (audit ) Tj ET Q q 0 0 0 rg BT 128.38 626.40 Td (in ) Tj ET Q q 0 0 0 rg BT 136.83 626.40 Td (accordance ) Tj ET Q q 0 0 0 rg BT 175.02 626.40 Td (with ) Tj ET Q q 0 0 0 rg BT 191.46 626.40 Td (the ) Tj ET Q q 0 0 0 rg BT 203.46 626.40 Td (standards ) Tj ET Q q 0 0 0 rg BT 235.89 626.40 Td (of ) Tj ET Q q 0 0 0 rg BT 244.78 626.40 Td (the ) Tj ET Q q 0 0 0 rg BT 256.77 626.40 Td (Public ) Tj ET Q q 0 0 0 rg BT 279.44 626.40 Td (Company ) Tj ET Q q 0 0 0 rg BT 312.28 626.40 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 351.83 626.40 Td (Oversight ) Tj ET Q q 0 0 0 rg BT 385.60 626.40 Td (Board ) Tj ET Q q 0 0 0 rg BT 407.37 626.40 Td (\(United ) Tj ET Q q 0 0 0 rg BT 434.03 626.40 Td (States\). ) Tj ET Q q 0 0 0 rg BT 459.87 626.40 Td (Those ) Tj ET Q q 0 0 0 rg BT 481.64 626.40 Td (standards ) Tj ET Q q 0 0 0 rg BT 514.08 626.40 Td (require ) Tj ET Q q 0 0 0 rg BT 538.95 626.40 Td (that ) Tj ET Q q 0 0 0 rg BT 553.17 626.40 Td (we ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 616.80 Td (plan ) Tj ET Q q 0 0 0 rg BT 65.02 616.80 Td (and ) Tj ET Q q 0 0 0 rg BT 78.32 616.80 Td (perform ) Tj ET Q q 0 0 0 rg BT 105.83 616.80 Td (the ) Tj ET Q q 0 0 0 rg BT 117.36 616.80 Td (audit ) Tj ET Q q 0 0 0 rg BT 135.10 616.80 Td (to ) Tj ET Q q 0 0 0 rg BT 143.07 616.80 Td (obtain ) Tj ET Q q 0 0 0 rg BT 164.81 616.80 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 200.77 616.80 Td (assurance ) Tj ET Q q 0 0 0 rg BT 233.61 616.80 Td (about ) Tj ET Q q 0 0 0 rg BT 253.13 616.80 Td (whether ) Tj ET Q q 0 0 0 rg BT 280.64 616.80 Td (ef) Tj ET Q q 0 0 0 rg BT 286.71 616.80 Td (fective ) Tj ET Q q 0 0 0 rg BT 310.22 616.80 Td (internal ) Tj ET Q q 0 0 0 rg BT 336.40 616.80 Td (control ) Tj ET Q q 0 0 0 rg BT 360.81 616.80 Td (over ) Tj ET Q q 0 0 0 rg BT 376.78 616.80 Td (financial ) Tj ET Q q 0 0 0 rg BT 406.51 616.80 Td (reporting ) Tj ET Q q 0 0 0 rg BT 437.58 616.80 Td (was ) Tj ET Q q 0 0 0 rg BT 451.77 616.80 Td (maintained ) Tj ET Q q 0 0 0 rg BT 489.06 616.80 Td (in ) Tj ET Q q 0 0 0 rg BT 497.03 616.80 Td (all ) Tj ET Q q 0 0 0 rg BT 506.78 616.80 Td (material ) Tj ET Q q 0 0 0 rg BT 534.73 616.80 Td (respects. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 607.20 Td (Our ) Tj ET Q q 0 0 0 rg BT 63.59 607.20 Td (audit ) Tj ET Q q 0 0 0 rg BT 81.23 607.20 Td (included ) Tj ET Q q 0 0 0 rg BT 110.43 607.20 Td (obtaining ) Tj ET Q q 0 0 0 rg BT 142.30 607.20 Td (an ) Tj ET Q q 0 0 0 rg BT 151.50 607.20 Td (understanding ) Tj ET Q q 0 0 0 rg BT 198.47 607.20 Td (of ) Tj ET Q q 0 0 0 rg BT 206.78 607.20 Td (internal ) Tj ET Q q 0 0 0 rg BT 232.86 607.20 Td (control ) Tj ET Q q 0 0 0 rg BT 257.17 607.20 Td (over ) Tj ET Q q 0 0 0 rg BT 273.04 607.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 302.67 607.20 Td (reporting, ) Tj ET Q q 0 0 0 rg BT 335.64 607.20 Td (assessing ) Tj ET Q q 0 0 0 rg BT 367.07 607.20 Td (the ) Tj ET Q q 0 0 0 rg BT 378.49 607.20 Td (risk ) Tj ET Q q 0 0 0 rg BT 392.14 607.20 Td (that ) Tj ET Q q 0 0 0 rg BT 405.78 607.20 Td (a ) Tj ET Q q 0 0 0 rg BT 410.98 607.20 Td (material ) Tj ET Q q 0 0 0 rg BT 438.84 607.20 Td (weakness ) Tj ET Q q 0 0 0 rg BT 471.14 607.20 Td (exists, ) Tj ET Q q 0 0 0 rg BT 493.01 607.20 Td (testing ) Tj ET Q q 0 0 0 rg BT 515.99 607.20 Td (and ) Tj ET Q q 0 0 0 rg BT 529.19 607.20 Td (evaluating ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 597.60 Td (the ) Tj ET Q q 0 0 0 rg BT 61.74 597.60 Td (design ) Tj ET Q q 0 0 0 rg BT 85.09 597.60 Td (and ) Tj ET Q q 0 0 0 rg BT 99.10 597.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 131.77 597.60 Td (ef) Tj ET Q q 0 0 0 rg BT 137.84 597.60 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 175.85 597.60 Td (of ) Tj ET Q q 0 0 0 rg BT 184.97 597.60 Td (internal ) Tj ET Q q 0 0 0 rg BT 211.87 597.60 Td (control ) Tj ET Q q 0 0 0 rg BT 236.99 597.60 Td (based ) Tj ET Q q 0 0 0 rg BT 257.67 597.60 Td (on ) Tj ET Q q 0 0 0 rg BT 268.13 597.60 Td (the ) Tj ET Q q 0 0 0 rg BT 280.37 597.60 Td (assessed ) Tj ET Q q 0 0 0 rg BT 309.94 597.60 Td (risk, ) Tj ET Q q 0 0 0 rg BT 326.40 597.60 Td (and ) Tj ET Q q 0 0 0 rg BT 340.41 597.60 Td (performing ) Tj ET Q q 0 0 0 rg BT 378.87 597.60 Td (such ) Tj ET Q q 0 0 0 rg BT 395.99 597.60 Td (other ) Tj ET Q q 0 0 0 rg BT 414.89 597.60 Td (procedures ) Tj ET Q q 0 0 0 rg BT 452.45 597.60 Td (as ) Tj ET Q q 0 0 0 rg BT 461.58 597.60 Td (we ) Tj ET Q q 0 0 0 rg BT 473.37 597.60 Td (considered ) Tj ET Q q 0 0 0 rg BT 510.48 597.60 Td (necessary ) Tj ET Q q 0 0 0 rg BT 544.04 597.60 Td (in ) Tj ET Q q 0 0 0 rg BT 552.72 597.60 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 588.00 Td (circumstances. ) Tj ET Q q 0 0 0 rg BT 98.67 588.00 Td (W) Tj ET Q q 0 0 0 rg BT 105.58 588.00 Td (e ) Tj ET Q q 0 0 0 rg BT 111.13 588.00 Td (believe ) Tj ET Q q 0 0 0 rg BT 136.23 588.00 Td (that ) Tj ET Q q 0 0 0 rg BT 150.22 588.00 Td (our ) Tj ET Q q 0 0 0 rg BT 162.89 588.00 Td (audit ) Tj ET Q q 0 0 0 rg BT 180.88 588.00 Td (provides ) Tj ET Q q 0 0 0 rg BT 210.43 588.00 Td (a ) Tj ET Q q 0 0 0 rg BT 215.98 588.00 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 252.19 588.00 Td (basis ) Tj ET Q q 0 0 0 rg BT 270.19 588.00 Td (for ) Tj ET Q q 0 0 0 rg BT 281.52 588.00 Td (our ) Tj ET Q q 0 0 0 rg BT 294.18 588.00 Td (opinion.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 572.40 Td (A) Tj ET Q q 0 0 0 rg BT 54.84 572.40 Td ( ) Tj ET Q q 0 0 0 rg BT 56.29 572.40 Td (company's ) Tj ET Q q 0 0 0 rg BT 91.63 572.40 Td (internal ) Tj ET Q q 0 0 0 rg BT 117.51 572.40 Td (control ) Tj ET Q q 0 0 0 rg BT 141.63 572.40 Td (over ) Tj ET Q q 0 0 0 rg BT 157.30 572.40 Td (financial ) Tj ET Q q 0 0 0 rg BT 186.74 572.40 Td (reporting ) Tj ET Q q 0 0 0 rg BT 217.52 572.40 Td (is ) Tj ET Q q 0 0 0 rg BT 224.31 572.40 Td (a ) Tj ET Q q 0 0 0 rg BT 229.31 572.40 Td (process ) Tj ET Q q 0 0 0 rg BT 254.76 572.40 Td (designed ) Tj ET Q q 0 0 0 rg BT 284.65 572.40 Td (by) Tj ET Q q 0 0 0 rg BT 292.13 572.40 Td (, ) Tj ET Q q 0 0 0 rg BT 295.59 572.40 Td (or ) Tj ET Q q 0 0 0 rg BT 303.71 572.40 Td (under ) Tj ET Q q 0 0 0 rg BT 323.38 572.40 Td (the ) Tj ET Q q 0 0 0 rg BT 334.61 572.40 Td (supervision ) Tj ET Q q 0 0 0 rg BT 372.95 572.40 Td (of, ) Tj ET Q q 0 0 0 rg BT 383.07 572.40 Td (the ) Tj ET Q q 0 0 0 rg BT 394.30 572.40 Td (company's ) Tj ET Q q 0 0 0 rg BT 429.63 572.40 Td (principal ) Tj ET Q q 0 0 0 rg BT 459.52 572.40 Td (executive ) Tj ET Q q 0 0 0 rg BT 491.62 572.40 Td (and ) Tj ET Q q 0 0 0 rg BT 504.63 572.40 Td (principal ) Tj ET Q q 0 0 0 rg BT 534.52 572.40 Td (financial ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 562.80 Td (of) Tj ET Q q 0 0 0 rg BT 56.02 562.80 Td (ficers, ) Tj ET Q q 0 0 0 rg BT 78.54 562.80 Td (or ) Tj ET Q q 0 0 0 rg BT 87.96 562.80 Td (persons ) Tj ET Q q 0 0 0 rg BT 115.16 562.80 Td (performing ) Tj ET Q q 0 0 0 rg BT 153.91 562.80 Td (similar ) Tj ET Q q 0 0 0 rg BT 178.88 562.80 Td (functions, ) Tj ET Q q 0 0 0 rg BT 213.41 562.80 Td (and ) Tj ET Q q 0 0 0 rg BT 227.72 562.80 Td (ef) Tj ET Q q 0 0 0 rg BT 233.79 562.80 Td (fected ) Tj ET Q q 0 0 0 rg BT 256.09 562.80 Td (by ) Tj ET Q q 0 0 0 rg BT 266.84 562.80 Td (the ) Tj ET Q q 0 0 0 rg BT 279.37 562.80 Td (company's ) Tj ET Q q 0 0 0 rg BT 316.01 562.80 Td (board ) Tj ET Q q 0 0 0 rg BT 336.98 562.80 Td (of ) Tj ET Q q 0 0 0 rg BT 346.40 562.80 Td (directors, ) Tj ET Q q 0 0 0 rg BT 379.15 562.80 Td (management, ) Tj ET Q q 0 0 0 rg BT 424.77 562.80 Td (and ) Tj ET Q q 0 0 0 rg BT 439.08 562.80 Td (other ) Tj ET Q q 0 0 0 rg BT 458.28 562.80 Td (personnel ) Tj ET Q q 0 0 0 rg BT 492.13 562.80 Td (to ) Tj ET Q q 0 0 0 rg BT 501.11 562.80 Td (provide ) Tj ET Q q 0 0 0 rg BT 528.31 562.80 Td (reasonable ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 553.20 Td (assurance ) Tj ET Q q 0 0 0 rg BT 82.72 553.20 Td (regarding ) Tj ET Q q 0 0 0 rg BT 115.50 553.20 Td (the ) Tj ET Q q 0 0 0 rg BT 127.40 553.20 Td (reliability ) Tj ET Q q 0 0 0 rg BT 160.63 553.20 Td (of ) Tj ET Q q 0 0 0 rg BT 169.42 553.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 199.54 553.20 Td (reporting ) Tj ET Q q 0 0 0 rg BT 230.99 553.20 Td (and ) Tj ET Q q 0 0 0 rg BT 244.67 553.20 Td (the ) Tj ET Q q 0 0 0 rg BT 256.57 553.20 Td (preparation ) Tj ET Q q 0 0 0 rg BT 295.12 553.20 Td (of ) Tj ET Q q 0 0 0 rg BT 303.92 553.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 334.03 553.20 Td (statements ) Tj ET Q q 0 0 0 rg BT 369.92 553.20 Td (for ) Tj ET Q q 0 0 0 rg BT 381.38 553.20 Td (external ) Tj ET Q q 0 0 0 rg BT 409.27 553.20 Td (purposes ) Tj ET Q q 0 0 0 rg BT 439.84 553.20 Td (in ) Tj ET Q q 0 0 0 rg BT 448.19 553.20 Td (accordance ) Tj ET Q q 0 0 0 rg BT 486.29 553.20 Td (with ) Tj ET Q q 0 0 0 rg BT 502.64 553.20 Td (generally ) Tj ET Q q 0 0 0 rg BT 534.53 553.20 Td (accepted ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 543.60 Td (accounting ) Tj ET Q q 0 0 0 rg BT 86.58 543.60 Td (principles. ) Tj ET Q q 0 0 0 rg BT 121.68 543.60 Td (A) Tj ET Q q 0 0 0 rg BT 127.02 543.60 Td ( ) Tj ET Q q 0 0 0 rg BT 129.00 543.60 Td (company's ) Tj ET Q q 0 0 0 rg BT 164.87 543.60 Td (internal ) Tj ET Q q 0 0 0 rg BT 191.29 543.60 Td (control ) Tj ET Q q 0 0 0 rg BT 215.94 543.60 Td (over ) Tj ET Q q 0 0 0 rg BT 232.14 543.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 262.11 543.60 Td (reporting ) Tj ET Q q 0 0 0 rg BT 293.42 543.60 Td (includes ) Tj ET Q q 0 0 0 rg BT 322.07 543.60 Td (those ) Tj ET Q q 0 0 0 rg BT 340.95 543.60 Td (policies ) Tj ET Q q 0 0 0 rg BT 367.82 543.60 Td (and ) Tj ET Q q 0 0 0 rg BT 381.35 543.60 Td (procedures ) Tj ET Q q 0 0 0 rg BT 418.43 543.60 Td (that ) Tj ET Q q 0 0 0 rg BT 432.42 543.60 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 443.73 543.60 Td (pertain ) Tj ET Q q 0 0 0 rg BT 467.93 543.60 Td (to ) Tj ET Q q 0 0 0 rg BT 476.14 543.60 Td (the ) Tj ET Q q 0 0 0 rg BT 487.90 543.60 Td (maintenance ) Tj ET Q q 0 0 0 rg BT 530.31 543.60 Td (of ) Tj ET Q q 0 0 0 rg BT 538.96 543.60 Td (records ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 534.00 Td (that, ) Tj ET Q q 0 0 0 rg BT 64.65 534.00 Td (in ) Tj ET Q q 0 0 0 rg BT 72.03 534.00 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 107.38 534.00 Td (detail, ) Tj ET Q q 0 0 0 rg BT 128.30 534.00 Td (accurately ) Tj ET Q q 0 0 0 rg BT 162.32 534.00 Td (and ) Tj ET Q q 0 0 0 rg BT 175.03 534.00 Td (fairly ) Tj ET Q q 0 0 0 rg BT 193.50 534.00 Td (reflect ) Tj ET Q q 0 0 0 rg BT 215.08 534.00 Td (the ) Tj ET Q q 0 0 0 rg BT 226.01 534.00 Td (transactions ) Tj ET Q q 0 0 0 rg BT 265.37 534.00 Td (and ) Tj ET Q q 0 0 0 rg BT 278.08 534.00 Td (dispositions ) Tj ET Q q 0 0 0 rg BT 317.46 534.00 Td (of ) Tj ET Q q 0 0 0 rg BT 325.28 534.00 Td (the ) Tj ET Q q 0 0 0 rg BT 336.21 534.00 Td (assets ) Tj ET Q q 0 0 0 rg BT 356.02 534.00 Td (of ) Tj ET Q q 0 0 0 rg BT 363.84 534.00 Td (the ) Tj ET Q q 0 0 0 rg BT 374.77 534.00 Td (company; ) Tj ET Q q 0 0 0 rg BT 407.47 534.00 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 417.95 534.00 Td (provide ) Tj ET Q q 0 0 0 rg BT 443.54 534.00 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 478.90 534.00 Td (assurance ) Tj ET Q q 0 0 0 rg BT 511.14 534.00 Td (that ) Tj ET Q q 0 0 0 rg BT 524.29 534.00 Td (transactions ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 524.40 Td (are ) Tj ET Q q 0 0 0 rg BT 60.31 524.40 Td (recorded ) Tj ET Q q 0 0 0 rg BT 89.33 524.40 Td (as ) Tj ET Q q 0 0 0 rg BT 97.04 524.40 Td (necessary ) Tj ET Q q 0 0 0 rg BT 129.18 524.40 Td (to ) Tj ET Q q 0 0 0 rg BT 136.44 524.40 Td (permit ) Tj ET Q q 0 0 0 rg BT 158.37 524.40 Td (preparation ) Tj ET Q q 0 0 0 rg BT 195.84 524.40 Td (of ) Tj ET Q q 0 0 0 rg BT 203.54 524.40 Td (financial ) Tj ET Q q 0 0 0 rg BT 232.57 524.40 Td (statements ) Tj ET Q q 0 0 0 rg BT 267.38 524.40 Td (in ) Tj ET Q q 0 0 0 rg BT 274.65 524.40 Td (accordance ) Tj ET Q q 0 0 0 rg BT 311.66 524.40 Td (with ) Tj ET Q q 0 0 0 rg BT 326.93 524.40 Td (generally ) Tj ET Q q 0 0 0 rg BT 357.73 524.40 Td (accepted ) Tj ET Q q 0 0 0 rg BT 386.75 524.40 Td (accounting ) Tj ET Q q 0 0 0 rg BT 422.89 524.40 Td (principles, ) Tj ET Q q 0 0 0 rg BT 457.48 524.40 Td (and ) Tj ET Q q 0 0 0 rg BT 470.07 524.40 Td (that ) Tj ET Q q 0 0 0 rg BT 483.11 524.40 Td (receipts ) Tj ET Q q 0 0 0 rg BT 509.03 524.40 Td (and ) Tj ET Q q 0 0 0 rg BT 521.63 524.40 Td (expenditures ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 514.80 Td (of ) Tj ET Q q 0 0 0 rg BT 57.47 514.80 Td (the ) Tj ET Q q 0 0 0 rg BT 68.55 514.80 Td (company ) Tj ET Q q 0 0 0 rg BT 99.19 514.80 Td (are ) Tj ET Q q 0 0 0 rg BT 110.26 514.80 Td (being ) Tj ET Q q 0 0 0 rg BT 129.34 514.80 Td (made ) Tj ET Q q 0 0 0 rg BT 147.98 514.80 Td (only ) Tj ET Q q 0 0 0 rg BT 163.51 514.80 Td (in ) Tj ET Q q 0 0 0 rg BT 171.04 514.80 Td (accordance ) Tj ET Q q 0 0 0 rg BT 208.32 514.80 Td (with ) Tj ET Q q 0 0 0 rg BT 223.85 514.80 Td (authorizations ) Tj ET Q q 0 0 0 rg BT 270.48 514.80 Td (of ) Tj ET Q q 0 0 0 rg BT 278.45 514.80 Td (management ) Tj ET Q q 0 0 0 rg BT 320.63 514.80 Td (and ) Tj ET Q q 0 0 0 rg BT 333.49 514.80 Td (directors ) Tj ET Q q 0 0 0 rg BT 362.79 514.80 Td (of ) Tj ET Q q 0 0 0 rg BT 370.76 514.80 Td (the ) Tj ET Q q 0 0 0 rg BT 381.84 514.80 Td (company; ) Tj ET Q q 0 0 0 rg BT 414.70 514.80 Td (and ) Tj ET Q q 0 0 0 rg BT 427.55 514.80 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 438.19 514.80 Td (provide ) Tj ET Q q 0 0 0 rg BT 463.94 514.80 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 499.45 514.80 Td (assurance ) Tj ET Q q 0 0 0 rg BT 531.85 514.80 Td (regarding ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 505.20 Td (prevention ) Tj ET Q q 0 0 0 rg BT 85.42 505.20 Td (or ) Tj ET Q q 0 0 0 rg BT 93.78 505.20 Td (timely ) Tj ET Q q 0 0 0 rg BT 115.93 505.20 Td (detection ) Tj ET Q q 0 0 0 rg BT 146.95 505.20 Td (of ) Tj ET Q q 0 0 0 rg BT 155.32 505.20 Td (unauthorized ) Tj ET Q q 0 0 0 rg BT 198.79 505.20 Td (acquisition, ) Tj ET Q q 0 0 0 rg BT 237.60 505.20 Td (use, ) Tj ET Q q 0 0 0 rg BT 251.96 505.20 Td (or ) Tj ET Q q 0 0 0 rg BT 260.33 505.20 Td (disposition ) Tj ET Q q 0 0 0 rg BT 297.15 505.20 Td (of ) Tj ET Q q 0 0 0 rg BT 305.52 505.20 Td (the ) Tj ET Q q 0 0 0 rg BT 317.00 505.20 Td (company's ) Tj ET Q q 0 0 0 rg BT 352.58 505.20 Td (assets ) Tj ET Q q 0 0 0 rg BT 372.95 505.20 Td (that ) Tj ET Q q 0 0 0 rg BT 386.65 505.20 Td (could ) Tj ET Q q 0 0 0 rg BT 406.13 505.20 Td (have ) Tj ET Q q 0 0 0 rg BT 422.93 505.20 Td (a ) Tj ET Q q 0 0 0 rg BT 428.19 505.20 Td (material ) Tj ET Q q 0 0 0 rg BT 456.10 505.20 Td (ef) Tj ET Q q 0 0 0 rg BT 462.17 505.20 Td (fect ) Tj ET Q q 0 0 0 rg BT 475.86 505.20 Td (on ) Tj ET Q q 0 0 0 rg BT 485.57 505.20 Td (the ) Tj ET Q q 0 0 0 rg BT 497.04 505.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 526.73 505.20 Td (statements.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 489.60 Td (Because ) Tj ET Q q 0 0 0 rg BT 77.82 489.60 Td (of ) Tj ET Q q 0 0 0 rg BT 86.14 489.60 Td (the ) Tj ET Q q 0 0 0 rg BT 97.58 489.60 Td (inherent ) Tj ET Q q 0 0 0 rg BT 125.45 489.60 Td (limitations ) Tj ET Q q 0 0 0 rg BT 161.34 489.60 Td (of ) Tj ET Q q 0 0 0 rg BT 169.67 489.60 Td (internal ) Tj ET Q q 0 0 0 rg BT 195.76 489.60 Td (control ) Tj ET Q q 0 0 0 rg BT 220.09 489.60 Td (over ) Tj ET Q q 0 0 0 rg BT 235.96 489.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 265.61 489.60 Td (reporting, ) Tj ET Q q 0 0 0 rg BT 298.60 489.60 Td (including ) Tj ET Q q 0 0 0 rg BT 330.48 489.60 Td (the ) Tj ET Q q 0 0 0 rg BT 341.92 489.60 Td (possibility ) Tj ET Q q 0 0 0 rg BT 376.92 489.60 Td (of ) Tj ET Q q 0 0 0 rg BT 385.25 489.60 Td (collusion ) Tj ET Q q 0 0 0 rg BT 416.24 489.60 Td (or ) Tj ET Q q 0 0 0 rg BT 424.57 489.60 Td (improper ) Tj ET Q q 0 0 0 rg BT 455.56 489.60 Td (management ) Tj ET Q q 0 0 0 rg BT 498.09 489.60 Td (override ) Tj ET Q q 0 0 0 rg BT 526.41 489.60 Td (of ) Tj ET Q q 0 0 0 rg BT 534.73 489.60 Td (controls, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 480.00 Td (material ) Tj ET Q q 0 0 0 rg BT 78.02 480.00 Td (misstatements ) Tj ET Q q 0 0 0 rg BT 125.65 480.00 Td (due ) Tj ET Q q 0 0 0 rg BT 139.51 480.00 Td (to ) Tj ET Q q 0 0 0 rg BT 148.05 480.00 Td (error ) Tj ET Q q 0 0 0 rg BT 165.90 480.00 Td (or ) Tj ET Q q 0 0 0 rg BT 174.87 480.00 Td (fraud ) Tj ET Q q 0 0 0 rg BT 194.06 480.00 Td (may ) Tj ET Q q 0 0 0 rg BT 210.14 480.00 Td (not ) Tj ET Q q 0 0 0 rg BT 222.68 480.00 Td (be ) Tj ET Q q 0 0 0 rg BT 232.54 480.00 Td (prevented ) Tj ET Q q 0 0 0 rg BT 266.39 480.00 Td (or ) Tj ET Q q 0 0 0 rg BT 275.36 480.00 Td (detected ) Tj ET Q q 0 0 0 rg BT 304.32 480.00 Td (on ) Tj ET Q q 0 0 0 rg BT 314.63 480.00 Td (a ) Tj ET Q q 0 0 0 rg BT 320.49 480.00 Td (timely ) Tj ET Q q 0 0 0 rg BT 343.24 480.00 Td (basis. ) Tj ET Q q 0 0 0 rg BT 363.04 480.00 Td (Also, ) Tj ET Q q 0 0 0 rg BT 382.46 480.00 Td (projections ) Tj ET Q q 0 0 0 rg BT 420.32 480.00 Td (of ) Tj ET Q q 0 0 0 rg BT 429.29 480.00 Td (any ) Tj ET Q q 0 0 0 rg BT 443.15 480.00 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 478.78 480.00 Td (of ) Tj ET Q q 0 0 0 rg BT 487.75 480.00 Td (the ) Tj ET Q q 0 0 0 rg BT 499.84 480.00 Td (ef) Tj ET Q q 0 0 0 rg BT 505.91 480.00 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 543.76 480.00 Td (of ) Tj ET Q q 0 0 0 rg BT 552.73 480.00 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 470.40 Td (internal ) Tj ET Q q 0 0 0 rg BT 75.79 470.40 Td (control ) Tj ET Q q 0 0 0 rg BT 100.30 470.40 Td (over ) Tj ET Q q 0 0 0 rg BT 116.36 470.40 Td (financial ) Tj ET Q q 0 0 0 rg BT 146.20 470.40 Td (reporting ) Tj ET Q q 0 0 0 rg BT 177.38 470.40 Td (to ) Tj ET Q q 0 0 0 rg BT 185.45 470.40 Td (future ) Tj ET Q q 0 0 0 rg BT 206.40 470.40 Td (periods ) Tj ET Q q 0 0 0 rg BT 231.80 470.40 Td (are ) Tj ET Q q 0 0 0 rg BT 243.42 470.40 Td (subject ) Tj ET Q q 0 0 0 rg BT 267.93 470.40 Td (to ) Tj ET Q q 0 0 0 rg BT 276.01 470.40 Td (the ) Tj ET Q q 0 0 0 rg BT 287.63 470.40 Td (risk ) Tj ET Q q 0 0 0 rg BT 301.48 470.40 Td (that ) Tj ET Q q 0 0 0 rg BT 315.33 470.40 Td (the ) Tj ET Q q 0 0 0 rg BT 326.96 470.40 Td (controls ) Tj ET Q q 0 0 0 rg BT 354.58 470.40 Td (may ) Tj ET Q q 0 0 0 rg BT 370.21 470.40 Td (become ) Tj ET Q q 0 0 0 rg BT 396.93 470.40 Td (inadequate ) Tj ET Q q 0 0 0 rg BT 433.43 470.40 Td (because ) Tj ET Q q 0 0 0 rg BT 460.60 470.40 Td (of ) Tj ET Q q 0 0 0 rg BT 469.12 470.40 Td (changes ) Tj ET Q q 0 0 0 rg BT 496.73 470.40 Td (in ) Tj ET Q q 0 0 0 rg BT 504.81 470.40 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 541.99 470.40 Td (or ) Tj ET Q q 0 0 0 rg BT 550.51 470.40 Td (that ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 460.80 Td (the ) Tj ET Q q 0 0 0 rg BT 61.27 460.80 Td (degree ) Tj ET Q q 0 0 0 rg BT 84.59 460.80 Td (of ) Tj ET Q q 0 0 0 rg BT 93.25 460.80 Td (compliance ) Tj ET Q q 0 0 0 rg BT 132.13 460.80 Td (with ) Tj ET Q q 0 0 0 rg BT 148.35 460.80 Td (the ) Tj ET Q q 0 0 0 rg BT 160.12 460.80 Td (policies ) Tj ET Q q 0 0 0 rg BT 187.00 460.80 Td (or ) Tj ET Q q 0 0 0 rg BT 195.67 460.80 Td (procedures ) Tj ET Q q 0 0 0 rg BT 232.76 460.80 Td (may ) Tj ET Q q 0 0 0 rg BT 248.54 460.80 Td (deteriorate.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 445.20 Td (In ) Tj ET Q q 0 0 0 rg BT 57.97 445.20 Td (our ) Tj ET Q q 0 0 0 rg BT 70.44 445.20 Td (opinion, ) Tj ET Q q 0 0 0 rg BT 98.69 445.20 Td (the ) Tj ET Q q 0 0 0 rg BT 110.27 445.20 Td (Company ) Tj ET Q q 0 0 0 rg BT 143.18 445.20 Td (maintained, ) Tj ET Q q 0 0 0 rg BT 182.53 445.20 Td (in ) Tj ET Q q 0 0 0 rg BT 190.56 445.20 Td (all ) Tj ET Q q 0 0 0 rg BT 200.36 445.20 Td (material ) Tj ET Q q 0 0 0 rg BT 228.38 445.20 Td (respects, ) Tj ET Q q 0 0 0 rg BT 257.95 445.20 Td (ef) Tj ET Q q 0 0 0 rg BT 264.02 445.20 Td (fective ) Tj ET Q q 0 0 0 rg BT 287.58 445.20 Td (internal ) Tj ET Q q 0 0 0 rg BT 313.82 445.20 Td (control ) Tj ET Q q 0 0 0 rg BT 338.29 445.20 Td (over ) Tj ET Q q 0 0 0 rg BT 354.31 445.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 384.10 445.20 Td (reporting ) Tj ET Q q 0 0 0 rg BT 415.23 445.20 Td (as ) Tj ET Q q 0 0 0 rg BT 423.70 445.20 Td (of ) Tj ET Q q 0 0 0 rg BT 432.17 445.20 Td (December ) Tj ET Q q 0 0 0 rg BT 466.84 445.20 Td (31, ) Tj ET Q q 0 0 0 rg BT 478.65 445.20 Td (2014, ) Tj ET Q q 0 0 0 rg BT 498.45 445.20 Td (based ) Tj ET Q q 0 0 0 rg BT 518.47 445.20 Td (on ) Tj ET Q q 0 0 0 rg BT 528.28 445.20 Td (the ) Tj ET Q q 0 0 0 rg BT 539.86 445.20 Td (criteria ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 435.60 Td (established ) Tj ET Q q 0 0 0 rg BT 87.05 435.60 Td (in) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 93.27 435.60 Td ( ) Tj ET Q q 0 0 0 rg BT 95.27 435.60 Td (Internal ) Tj ET Q q 0 0 0 rg BT 123.04 435.60 Td (Contr) Tj ET Q q 0 0 0 rg BT 141.42 435.60 Td (ol ) Tj ET Q q 0 0 0 rg BT 149.64 435.60 Td (- ) Tj ET Q q 0 0 0 rg BT 154.30 435.60 Td (Integrated ) Tj ET Q q 0 0 0 rg BT 189.63 435.60 Td (Framework ) Tj ET Q q 0 0 0 rg BT 228.96 435.60 Td (\(2013\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 250.29 435.60 Td ( ) Tj ET Q q 0 0 0 rg BT 252.29 435.60 Td (issued ) Tj ET Q q 0 0 0 rg BT 274.29 435.60 Td (by ) Tj ET Q q 0 0 0 rg BT 284.29 435.60 Td (the ) Tj ET Q q 0 0 0 rg BT 296.06 435.60 Td (Committee ) Tj ET Q q 0 0 0 rg BT 333.61 435.60 Td (of ) Tj ET Q q 0 0 0 rg BT 342.27 435.60 Td (Sponsoring ) Tj ET Q q 0 0 0 rg BT 380.72 435.60 Td (Or) Tj ET Q q 0 0 0 rg BT 389.02 435.60 Td (ganizations ) Tj ET Q q 0 0 0 rg BT 427.45 435.60 Td (of ) Tj ET Q q 0 0 0 rg BT 436.12 435.60 Td (the ) Tj ET Q q 0 0 0 rg BT 447.75 435.60 Td (T) Tj ET Q q 0 0 0 rg BT 452.35 435.60 Td (readway ) Tj ET Q q 0 0 0 rg BT 481.45 435.60 Td (Commission.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 420.00 Td (W) Tj ET Q q 0 0 0 rg BT 56.41 420.00 Td (e ) Tj ET Q q 0 0 0 rg BT 61.69 420.00 Td (have ) Tj ET Q q 0 0 0 rg BT 78.53 420.00 Td (also ) Tj ET Q q 0 0 0 rg BT 93.15 420.00 Td (audited, ) Tj ET Q q 0 0 0 rg BT 120.43 420.00 Td (in ) Tj ET Q q 0 0 0 rg BT 128.39 420.00 Td (accordance ) Tj ET Q q 0 0 0 rg BT 166.09 420.00 Td (with ) Tj ET Q q 0 0 0 rg BT 182.04 420.00 Td (the ) Tj ET Q q 0 0 0 rg BT 193.55 420.00 Td (standards ) Tj ET Q q 0 0 0 rg BT 225.50 420.00 Td (of ) Tj ET Q q 0 0 0 rg BT 233.90 420.00 Td (the ) Tj ET Q q 0 0 0 rg BT 245.40 420.00 Td (Public ) Tj ET Q q 0 0 0 rg BT 267.58 420.00 Td (Company ) Tj ET Q q 0 0 0 rg BT 300.04 420.00 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 339.10 420.00 Td (Oversight ) Tj ET Q q 0 0 0 rg BT 372.38 420.00 Td (Board ) Tj ET Q q 0 0 0 rg BT 393.67 420.00 Td (\(United ) Tj ET Q q 0 0 0 rg BT 419.84 420.00 Td (States\), ) Tj ET Q q 0 0 0 rg BT 445.35 420.00 Td (the ) Tj ET Q q 0 0 0 rg BT 456.85 420.00 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 499.02 420.00 Td (financial ) Tj ET Q q 0 0 0 rg BT 528.74 420.00 Td (statements ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 410.40 Td (and ) Tj ET Q q 0 0 0 rg BT 62.99 410.40 Td (financial ) Tj ET Q q 0 0 0 rg BT 92.92 410.40 Td (statement ) Tj ET Q q 0 0 0 rg BT 125.52 410.40 Td (schedule ) Tj ET Q q 0 0 0 rg BT 155.45 410.40 Td (as ) Tj ET Q q 0 0 0 rg BT 164.06 410.40 Td (of ) Tj ET Q q 0 0 0 rg BT 172.67 410.40 Td (and ) Tj ET Q q 0 0 0 rg BT 186.16 410.40 Td (for ) Tj ET Q q 0 0 0 rg BT 197.43 410.40 Td (the ) Tj ET Q q 0 0 0 rg BT 209.15 410.40 Td (year ) Tj ET Q q 0 0 0 rg BT 224.86 410.40 Td (ended ) Tj ET Q q 0 0 0 rg BT 245.90 410.40 Td (December ) Tj ET Q q 0 0 0 rg BT 280.71 410.40 Td (31, ) Tj ET Q q 0 0 0 rg BT 292.66 410.40 Td (2014 ) Tj ET Q q 0 0 0 rg BT 310.60 410.40 Td (of ) Tj ET Q q 0 0 0 rg BT 319.21 410.40 Td (the ) Tj ET Q q 0 0 0 rg BT 330.93 410.40 Td (Company ) Tj ET Q q 0 0 0 rg BT 363.98 410.40 Td (and ) Tj ET Q q 0 0 0 rg BT 377.47 410.40 Td (our ) Tj ET Q q 0 0 0 rg BT 390.08 410.40 Td (report ) Tj ET Q q 0 0 0 rg BT 411.13 410.40 Td (dated ) Tj ET Q q 0 0 0 rg BT 430.39 410.40 Td (March ) Tj ET Q q 0 0 0 rg BT 453.21 410.40 Td (12, ) Tj ET Q q 0 0 0 rg BT 465.16 410.40 Td (2015 ) Tj ET Q q 0 0 0 rg BT 483.10 410.40 Td (expressed ) Tj ET Q q 0 0 0 rg BT 516.59 410.40 Td (an ) Tj ET Q q 0 0 0 rg BT 526.08 410.40 Td (unqualified ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 400.80 Td (opinion ) Tj ET Q q 0 0 0 rg BT 76.06 400.80 Td (on ) Tj ET Q q 0 0 0 rg BT 86.18 400.80 Td (those ) Tj ET Q q 0 0 0 rg BT 105.19 400.80 Td (financial ) Tj ET Q q 0 0 0 rg BT 135.29 400.80 Td (statements ) Tj ET Q q 0 0 0 rg BT 171.18 400.80 Td (and ) Tj ET Q q 0 0 0 rg BT 184.85 400.80 Td (financial ) Tj ET Q q 0 0 0 rg BT 214.96 400.80 Td (statement ) Tj ET Q q 0 0 0 rg BT 247.73 400.80 Td (schedule ) Tj ET Q q 0 0 0 rg BT 277.84 400.80 Td (and ) Tj ET Q q 0 0 0 rg BT 291.51 400.80 Td (included ) Tj ET Q q 0 0 0 rg BT 321.17 400.80 Td (an ) Tj ET Q q 0 0 0 rg BT 330.84 400.80 Td (explanatory ) Tj ET Q q 0 0 0 rg BT 370.72 400.80 Td (paragraph ) Tj ET Q q 0 0 0 rg BT 404.82 400.80 Td (regarding ) Tj ET Q q 0 0 0 rg BT 437.60 400.80 Td (substantial ) Tj ET Q q 0 0 0 rg BT 473.93 400.80 Td (doubt ) Tj ET Q q 0 0 0 rg BT 494.28 400.80 Td (about ) Tj ET Q q 0 0 0 rg BT 514.17 400.80 Td (the ) Tj ET Q q 0 0 0 rg BT 526.06 400.80 Td (Company) Tj ET Q q 0 0 0 rg BT 559.39 400.80 Td (s ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 391.20 Td (ability ) Tj ET Q q 0 0 0 rg BT 71.94 391.20 Td (to ) Tj ET Q q 0 0 0 rg BT 80.16 391.20 Td (continue ) Tj ET Q q 0 0 0 rg BT 109.71 391.20 Td (as ) Tj ET Q q 0 0 0 rg BT 118.38 391.20 Td (a ) Tj ET Q q 0 0 0 rg BT 123.93 391.20 Td (going ) Tj ET Q q 0 0 0 rg BT 144.15 391.20 Td (concern.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 369.60 Td (DELOITTE LLP) Tj ET Q q 0 0 0 rg BT 104.08 369.60 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 348.00 Td (London, United Kingdom) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 335.40 Td (March12, 2015) Tj ET Q BT /F1 8.00 Tf ET endstream endobj 191 0 obj <>] /Rotate 0 /Contents 192 0 R>> endobj 192 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (93) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 723.60 Td (ITEM 9B. ) Tj ET Q q 0 0 0 rg BT 94.50 723.60 Td (OTHER INFORMA) Tj ET Q q 0 0 0 rg BT 163.91 723.60 Td (TION) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 708.00 Td (On ) Tj ET Q q 0 0 0 rg BT 61.81 708.00 Td (March ) Tj ET Q q 0 0 0 rg BT 85.23 708.00 Td (10, ) Tj ET Q q 0 0 0 rg BT 97.76 708.00 Td (2015, ) Tj ET Q q 0 0 0 rg BT 118.30 708.00 Td (Mr) Tj ET Q q 0 0 0 rg BT 127.63 708.00 Td (. ) Tj ET Q q 0 0 0 rg BT 132.17 708.00 Td (Michael ) Tj ET Q q 0 0 0 rg BT 160.91 708.00 Td (Del ) Tj ET Q q 0 0 0 rg BT 175.00 708.00 Td (Nin, ) Tj ET Q q 0 0 0 rg BT 191.54 708.00 Td (co-Chief ) Tj ET Q q 0 0 0 rg BT 222.06 708.00 Td (Executive ) Tj ET Q q 0 0 0 rg BT 256.58 708.00 Td (Of) Tj ET Q q 0 0 0 rg BT 264.88 708.00 Td (ficer ) Tj ET Q q 0 0 0 rg BT 282.06 708.00 Td (of ) Tj ET Q q 0 0 0 rg BT 291.26 708.00 Td (the ) Tj ET Q q 0 0 0 rg BT 303.57 708.00 Td (Company ) Tj ET Q q 0 0 0 rg BT 337.21 708.00 Td (has ) Tj ET Q q 0 0 0 rg BT 350.41 708.00 Td (entered ) Tj ET Q q 0 0 0 rg BT 376.49 708.00 Td (into ) Tj ET Q q 0 0 0 rg BT 391.47 708.00 Td (an ) Tj ET Q q 0 0 0 rg BT 401.55 708.00 Td (amendment ) Tj ET Q q 0 0 0 rg BT 441.41 708.00 Td (to ) Tj ET Q q 0 0 0 rg BT 450.17 708.00 Td (his ) Tj ET Q q 0 0 0 rg BT 462.04 708.00 Td (Contract ) Tj ET Q q 0 0 0 rg BT 492.12 708.00 Td (of ) Tj ET Q q 0 0 0 rg BT 501.32 708.00 Td (Employment ) Tj ET Q q 0 0 0 rg BT 545.18 708.00 Td (dated ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 698.40 Td (November ) Tj ET Q q 0 0 0 rg BT 84.45 698.40 Td (1) Tj ET Q q 0 0 0 rg BT 88.16 698.40 Td (1, ) Tj ET Q q 0 0 0 rg BT 95.34 698.40 Td (2013, ) Tj ET Q q 0 0 0 rg BT 114.53 698.40 Td (with ) Tj ET Q q 0 0 0 rg BT 129.94 698.40 Td (CME ) Tj ET Q q 0 0 0 rg BT 148.46 698.40 Td (Media ) Tj ET Q q 0 0 0 rg BT 170.08 698.40 Td (Services ) Tj ET Q q 0 0 0 rg BT 198.37 698.40 Td (Limited, ) Tj ET Q q 0 0 0 rg BT 226.89 698.40 Td (the ) Tj ET Q q 0 0 0 rg BT 237.85 698.40 Td (Company) Tj ET Q q 0 0 0 rg BT 271.18 698.40 Td (s ) Tj ET Q q 0 0 0 rg BT 275.48 698.40 Td (wholly ) Tj ET Q q 0 0 0 rg BT 298.89 698.40 Td (owned ) Tj ET Q q 0 0 0 rg BT 321.40 698.40 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 355.48 698.40 Td (\(CME ) Tj ET Q q 0 0 0 rg BT 380.21 698.40 Td (MS\) ) Tj ET Q q 0 0 0 rg BT 399.18 698.40 Td (\(filed ) Tj ET Q q 0 0 0 rg BT 417.69 698.40 Td (with ) Tj ET Q q 0 0 0 rg BT 433.10 698.40 Td (the ) Tj ET Q q 0 0 0 rg BT 444.06 698.40 Td (SEC ) Tj ET Q q 0 0 0 rg BT 459.92 698.40 Td (as ) Tj ET Q q 0 0 0 rg BT 467.77 698.40 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 492.51 698.40 Td (10.1 ) Tj ET Q q 0 0 0 rg BT 507.69 698.40 Td (to ) Tj ET Q q 0 0 0 rg BT 515.10 698.40 Td (the ) Tj ET Q q 0 0 0 rg BT 526.06 698.40 Td (Company) Tj ET Q q 0 0 0 rg BT 559.39 698.40 Td (s ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 688.80 Td (Current ) Tj ET Q q 0 0 0 rg BT 75.94 688.80 Td (Report ) Tj ET Q q 0 0 0 rg BT 99.71 688.80 Td (on ) Tj ET Q q 0 0 0 rg BT 109.71 688.80 Td (Form ) Tj ET Q q 0 0 0 rg BT 129.05 688.80 Td (8-K ) Tj ET Q q 0 0 0 rg BT 143.49 688.80 Td (on ) Tj ET Q q 0 0 0 rg BT 153.49 688.80 Td (November ) Tj ET Q q 0 0 0 rg BT 189.25 688.80 Td (15, ) Tj ET Q q 0 0 0 rg BT 201.25 688.80 Td (2013\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 673.20 Td (On ) Tj ET Q q 0 0 0 rg BT 61.34 673.20 Td (March ) Tj ET Q q 0 0 0 rg BT 84.29 673.20 Td (10, ) Tj ET Q q 0 0 0 rg BT 96.35 673.20 Td (2015, ) Tj ET Q q 0 0 0 rg BT 116.42 673.20 Td (Mr) Tj ET Q q 0 0 0 rg BT 125.75 673.20 Td (. ) Tj ET Q q 0 0 0 rg BT 129.82 673.20 Td (Christoph ) Tj ET Q q 0 0 0 rg BT 163.44 673.20 Td (Mainusch, ) Tj ET Q q 0 0 0 rg BT 199.06 673.20 Td (co-Chief ) Tj ET Q q 0 0 0 rg BT 229.11 673.20 Td (Executive ) Tj ET Q q 0 0 0 rg BT 263.16 673.20 Td (Of) Tj ET Q q 0 0 0 rg BT 271.46 673.20 Td (ficer ) Tj ET Q q 0 0 0 rg BT 288.18 673.20 Td (of ) Tj ET Q q 0 0 0 rg BT 296.91 673.20 Td (the ) Tj ET Q q 0 0 0 rg BT 308.75 673.20 Td (Company ) Tj ET Q q 0 0 0 rg BT 341.92 673.20 Td (has ) Tj ET Q q 0 0 0 rg BT 354.65 673.20 Td (entered ) Tj ET Q q 0 0 0 rg BT 380.25 673.20 Td (into ) Tj ET Q q 0 0 0 rg BT 394.77 673.20 Td (an ) Tj ET Q q 0 0 0 rg BT 404.38 673.20 Td (amendment ) Tj ET Q q 0 0 0 rg BT 443.77 673.20 Td (to ) Tj ET Q q 0 0 0 rg BT 452.06 673.20 Td (his ) Tj ET Q q 0 0 0 rg BT 463.46 673.20 Td (Contract ) Tj ET Q q 0 0 0 rg BT 493.07 673.20 Td (of ) Tj ET Q q 0 0 0 rg BT 501.80 673.20 Td (Employment ) Tj ET Q q 0 0 0 rg BT 545.19 673.20 Td (dated ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 663.60 Td (November ) Tj ET Q q 0 0 0 rg BT 85.27 663.60 Td (1) Tj ET Q q 0 0 0 rg BT 88.97 663.60 Td (1, ) Tj ET Q q 0 0 0 rg BT 96.97 663.60 Td (2013, ) Tj ET Q q 0 0 0 rg BT 116.97 663.60 Td (with ) Tj ET Q q 0 0 0 rg BT 133.19 663.60 Td (CM ) Tj ET Q q 0 0 0 rg BT 147.64 663.60 Td (MS ) Tj ET Q q 0 0 0 rg BT 161.20 663.60 Td (\(filed ) Tj ET Q q 0 0 0 rg BT 180.53 663.60 Td (with ) Tj ET Q q 0 0 0 rg BT 196.75 663.60 Td (the ) Tj ET Q q 0 0 0 rg BT 208.52 663.60 Td (SEC ) Tj ET Q q 0 0 0 rg BT 225.20 663.60 Td (as ) Tj ET Q q 0 0 0 rg BT 233.86 663.60 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 259.41 663.60 Td (10.2 ) Tj ET Q q 0 0 0 rg BT 275.41 663.60 Td (to ) Tj ET Q q 0 0 0 rg BT 283.64 663.60 Td (the ) Tj ET Q q 0 0 0 rg BT 295.41 663.60 Td (Company) Tj ET Q q 0 0 0 rg BT 328.74 663.60 Td (s ) Tj ET Q q 0 0 0 rg BT 333.86 663.60 Td (Current ) Tj ET Q q 0 0 0 rg BT 360.29 663.60 Td (Report ) Tj ET Q q 0 0 0 rg BT 384.07 663.60 Td (on ) Tj ET Q q 0 0 0 rg BT 394.07 663.60 Td (Form ) Tj ET Q q 0 0 0 rg BT 413.40 663.60 Td (8-K ) Tj ET Q q 0 0 0 rg BT 427.84 663.60 Td (on ) Tj ET Q q 0 0 0 rg BT 437.84 663.60 Td (November ) Tj ET Q q 0 0 0 rg BT 473.61 663.60 Td (15, ) Tj ET Q q 0 0 0 rg BT 485.61 663.60 Td (2013\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 648.00 Td (On ) Tj ET Q q 0 0 0 rg BT 61.93 648.00 Td (March ) Tj ET Q q 0 0 0 rg BT 85.47 648.00 Td (10, ) Tj ET Q q 0 0 0 rg BT 98.13 648.00 Td (2015, ) Tj ET Q q 0 0 0 rg BT 118.79 648.00 Td (Mr) Tj ET Q q 0 0 0 rg BT 128.12 648.00 Td (. ) Tj ET Q q 0 0 0 rg BT 132.78 648.00 Td (David ) Tj ET Q q 0 0 0 rg BT 154.99 648.00 Td (Stur) Tj ET Q q 0 0 0 rg BT 168.18 648.00 Td (geon, ) Tj ET Q q 0 0 0 rg BT 188.39 648.00 Td (Chief ) Tj ET Q q 0 0 0 rg BT 208.82 648.00 Td (Financial ) Tj ET Q q 0 0 0 rg BT 241.24 648.00 Td (Of) Tj ET Q q 0 0 0 rg BT 249.54 648.00 Td (ficer ) Tj ET Q q 0 0 0 rg BT 266.85 648.00 Td (of ) Tj ET Q q 0 0 0 rg BT 276.17 648.00 Td (the ) Tj ET Q q 0 0 0 rg BT 288.60 648.00 Td (Company ) Tj ET Q q 0 0 0 rg BT 322.37 648.00 Td (has ) Tj ET Q q 0 0 0 rg BT 335.69 648.00 Td (entered ) Tj ET Q q 0 0 0 rg BT 361.89 648.00 Td (into ) Tj ET Q q 0 0 0 rg BT 376.99 648.00 Td (an ) Tj ET Q q 0 0 0 rg BT 387.20 648.00 Td (amendment ) Tj ET Q q 0 0 0 rg BT 427.17 648.00 Td (to ) Tj ET Q q 0 0 0 rg BT 436.05 648.00 Td (his ) Tj ET Q q 0 0 0 rg BT 447.46 648.00 Td (Amended ) Tj ET Q q 0 0 0 rg BT 481.22 648.00 Td (and ) Tj ET Q q 0 0 0 rg BT 495.43 648.00 Td (Restated ) Tj ET Q q 0 0 0 rg BT 525.63 648.00 Td (Contract ) Tj ET Q q 0 0 0 rg BT 555.84 648.00 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 638.40 Td (Employment ) Tj ET Q q 0 0 0 rg BT 93.38 638.40 Td (dated ) Tj ET Q q 0 0 0 rg BT 113.26 638.40 Td (July ) Tj ET Q q 0 0 0 rg BT 129.15 638.40 Td (27, ) Tj ET Q q 0 0 0 rg BT 141.70 638.40 Td (2010, ) Tj ET Q q 0 0 0 rg BT 162.26 638.40 Td (as ) Tj ET Q q 0 0 0 rg BT 171.47 638.40 Td (amended, ) Tj ET Q q 0 0 0 rg BT 204.90 638.40 Td (with ) Tj ET Q q 0 0 0 rg BT 221.68 638.40 Td (CME ) Tj ET Q q 0 0 0 rg BT 241.57 638.40 Td (MS ) Tj ET Q q 0 0 0 rg BT 255.69 638.40 Td (\(filed ) Tj ET Q q 0 0 0 rg BT 275.56 638.40 Td (with ) Tj ET Q q 0 0 0 rg BT 292.34 638.40 Td (the ) Tj ET Q q 0 0 0 rg BT 304.67 638.40 Td (SEC ) Tj ET Q q 0 0 0 rg BT 321.89 638.40 Td (as ) Tj ET Q q 0 0 0 rg BT 331.11 638.40 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 357.22 638.40 Td (10.9 ) Tj ET Q q 0 0 0 rg BT 373.77 638.40 Td (to ) Tj ET Q q 0 0 0 rg BT 382.55 638.40 Td (the ) Tj ET Q q 0 0 0 rg BT 394.88 638.40 Td (Company) Tj ET Q q 0 0 0 rg BT 428.21 638.40 Td (s ) Tj ET Q q 0 0 0 rg BT 433.88 638.40 Td (Quarterly ) Tj ET Q q 0 0 0 rg BT 467.08 638.40 Td (Report ) Tj ET Q q 0 0 0 rg BT 491.41 638.40 Td (on ) Tj ET Q q 0 0 0 rg BT 501.96 638.40 Td (Form ) Tj ET Q q 0 0 0 rg BT 521.85 638.40 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 540.85 638.40 Td (for ) Tj ET Q q 0 0 0 rg BT 552.73 638.40 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 628.80 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 80.38 628.80 Td (period ) Tj ET Q q 0 0 0 rg BT 102.81 628.80 Td (ended ) Tj ET Q q 0 0 0 rg BT 123.91 628.80 Td (June ) Tj ET Q q 0 0 0 rg BT 140.58 628.80 Td (30, ) Tj ET Q q 0 0 0 rg BT 152.58 628.80 Td (2010 ) Tj ET Q q 0 0 0 rg BT 170.58 628.80 Td (and ) Tj ET Q q 0 0 0 rg BT 184.13 628.80 Td (as ) Tj ET Q q 0 0 0 rg BT 192.79 628.80 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 218.35 628.80 Td (10.02 ) Tj ET Q q 0 0 0 rg BT 238.35 628.80 Td (to ) Tj ET Q q 0 0 0 rg BT 246.57 628.80 Td (the ) Tj ET Q q 0 0 0 rg BT 258.34 628.80 Td (Company) Tj ET Q q 0 0 0 rg BT 291.68 628.80 Td (s ) Tj ET Q q 0 0 0 rg BT 296.79 628.80 Td (Quarterly ) Tj ET Q q 0 0 0 rg BT 329.44 628.80 Td (Report ) Tj ET Q q 0 0 0 rg BT 353.21 628.80 Td (on ) Tj ET Q q 0 0 0 rg BT 363.21 628.80 Td (Form ) Tj ET Q q 0 0 0 rg BT 382.55 628.80 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 400.99 628.80 Td (for ) Tj ET Q q 0 0 0 rg BT 412.32 628.80 Td (the ) Tj ET Q q 0 0 0 rg BT 424.09 628.80 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 454.97 628.80 Td (period ) Tj ET Q q 0 0 0 rg BT 477.41 628.80 Td (ended ) Tj ET Q q 0 0 0 rg BT 498.51 628.80 Td (June ) Tj ET Q q 0 0 0 rg BT 515.17 628.80 Td (30, ) Tj ET Q q 0 0 0 rg BT 527.17 628.80 Td (2014\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 613.20 Td (On ) Tj ET Q q 0 0 0 rg BT 61.19 613.20 Td (March ) Tj ET Q q 0 0 0 rg BT 83.98 613.20 Td (10, ) Tj ET Q q 0 0 0 rg BT 95.89 613.20 Td (2015, ) Tj ET Q q 0 0 0 rg BT 115.80 613.20 Td (Mr) Tj ET Q q 0 0 0 rg BT 125.14 613.20 Td (. ) Tj ET Q q 0 0 0 rg BT 129.05 613.20 Td (Daniel ) Tj ET Q q 0 0 0 rg BT 152.28 613.20 Td (Penn, ) Tj ET Q q 0 0 0 rg BT 172.19 613.20 Td (General ) Tj ET Q q 0 0 0 rg BT 199.42 613.20 Td (Counsel ) Tj ET Q q 0 0 0 rg BT 227.56 613.20 Td (of ) Tj ET Q q 0 0 0 rg BT 236.13 613.20 Td (the ) Tj ET Q q 0 0 0 rg BT 247.82 613.20 Td (Company ) Tj ET Q q 0 0 0 rg BT 280.84 613.20 Td (has ) Tj ET Q q 0 0 0 rg BT 293.41 613.20 Td (entered ) Tj ET Q q 0 0 0 rg BT 318.86 613.20 Td (into ) Tj ET Q q 0 0 0 rg BT 333.22 613.20 Td (an ) Tj ET Q q 0 0 0 rg BT 342.68 613.20 Td (amendment ) Tj ET Q q 0 0 0 rg BT 381.91 613.20 Td (to ) Tj ET Q q 0 0 0 rg BT 390.04 613.20 Td (his ) Tj ET Q q 0 0 0 rg BT 401.29 613.20 Td (Contract ) Tj ET Q q 0 0 0 rg BT 430.75 613.20 Td (of ) Tj ET Q q 0 0 0 rg BT 439.33 613.20 Td (Employment ) Tj ET Q q 0 0 0 rg BT 482.56 613.20 Td (dated ) Tj ET Q q 0 0 0 rg BT 501.80 613.20 Td (February ) Tj ET Q q 0 0 0 rg BT 532.59 613.20 Td (20, ) Tj ET Q q 0 0 0 rg BT 544.50 613.20 Td (2012, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 603.60 Td (with ) Tj ET Q q 0 0 0 rg BT 65.72 603.60 Td (CME ) Tj ET Q q 0 0 0 rg BT 85.06 603.60 Td (MS ) Tj ET Q q 0 0 0 rg BT 98.62 603.60 Td (\(filed ) Tj ET Q q 0 0 0 rg BT 117.95 603.60 Td (with ) Tj ET Q q 0 0 0 rg BT 134.17 603.60 Td (the ) Tj ET Q q 0 0 0 rg BT 145.94 603.60 Td (SEC ) Tj ET Q q 0 0 0 rg BT 162.61 603.60 Td (as ) Tj ET Q q 0 0 0 rg BT 171.28 603.60 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 196.83 603.60 Td (10.47 ) Tj ET Q q 0 0 0 rg BT 216.83 603.60 Td (to ) Tj ET Q q 0 0 0 rg BT 225.05 603.60 Td (the ) Tj ET Q q 0 0 0 rg BT 236.83 603.60 Td (Company) Tj ET Q q 0 0 0 rg BT 270.16 603.60 Td (s ) Tj ET Q q 0 0 0 rg BT 274.83 603.60 Td (Annual ) Tj ET Q q 0 0 0 rg BT 300.38 603.60 Td (Report ) Tj ET Q q 0 0 0 rg BT 324.16 603.60 Td (on ) Tj ET Q q 0 0 0 rg BT 334.16 603.60 Td (Form ) Tj ET Q q 0 0 0 rg BT 353.49 603.60 Td (10-K ) Tj ET Q q 0 0 0 rg BT 371.93 603.60 Td (for ) Tj ET Q q 0 0 0 rg BT 383.26 603.60 Td (the ) Tj ET Q q 0 0 0 rg BT 395.04 603.60 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 414.36 603.60 Td (period ) Tj ET Q q 0 0 0 rg BT 436.80 603.60 Td (ended ) Tj ET Q q 0 0 0 rg BT 457.90 603.60 Td (December ) Tj ET Q q 0 0 0 rg BT 492.77 603.60 Td (31, ) Tj ET Q q 0 0 0 rg BT 504.77 603.60 Td (201) Tj ET Q q 0 0 0 rg BT 516.47 603.60 Td (1\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 588.00 Td (Under the terms of the amendment to his contract, each of Michael Del Nin, Christoph Mainusch, Daniel Penn and David Stur) Tj ET Q q 0 0 0 rg BT 453.92 588.00 Td (geon is entitled to terminate his ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 578.40 Td (employment contract with CME MS following material breaches thereunder by CME MS. Following such termination, each would be entitled to the same ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 568.80 Td (compensation he would receive in the event CME MS terminates his employment contract without cause.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 547.20 Td (P) Tj ET Q q 0 0 0 rg BT 53.79 547.20 Td (AR) Tj ET Q q 0 0 0 rg BT 65.07 547.20 Td (T) Tj ET Q q 0 0 0 rg BT 70.26 547.20 Td ( ) Tj ET Q q 0 0 0 rg BT 72.26 547.20 Td (III) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 525.60 Td (ITEM 10. ) Tj ET Q q 0 0 0 rg BT 94.50 525.60 Td (DIRECT) Tj ET Q q 0 0 0 rg BT 125.47 525.60 Td (ORS, EXECUTIVE OFFICERS ) Tj ET Q q 0 0 0 rg BT 237.50 525.60 Td (AND CORPORA) Tj ET Q q 0 0 0 rg BT 296.68 525.60 Td (TE GOVERNANCE) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 510.00 Td (The ) Tj ET Q q 0 0 0 rg BT 63.02 510.00 Td (information ) Tj ET Q q 0 0 0 rg BT 101.87 510.00 Td (required ) Tj ET Q q 0 0 0 rg BT 129.60 510.00 Td (by ) Tj ET Q q 0 0 0 rg BT 138.68 510.00 Td (Item ) Tj ET Q q 0 0 0 rg BT 154.42 510.00 Td (10 ) Tj ET Q q 0 0 0 rg BT 163.51 510.00 Td (is ) Tj ET Q q 0 0 0 rg BT 169.92 510.00 Td (incorporated ) Tj ET Q q 0 0 0 rg BT 211.43 510.00 Td (herein ) Tj ET Q q 0 0 0 rg BT 232.50 510.00 Td (by ) Tj ET Q q 0 0 0 rg BT 241.58 510.00 Td (reference ) Tj ET Q q 0 0 0 rg BT 272.41 510.00 Td (to ) Tj ET Q q 0 0 0 rg BT 279.71 510.00 Td (the ) Tj ET Q q 0 0 0 rg BT 290.57 510.00 Td (sections ) Tj ET Q q 0 0 0 rg BT 317.42 510.00 Td (entitled ) Tj ET Q q 0 0 0 rg BT 342.49 510.00 Td (Election ) Tj ET Q q 0 0 0 rg BT 373.78 510.00 Td (of ) Tj ET Q q 0 0 0 rg BT 381.53 510.00 Td (Directors, ) Tj ET Q q 0 0 0 rg BT 417.92 510.00 Td (Executive ) Tj ET Q q 0 0 0 rg BT 454.54 510.00 Td (Of) Tj ET Q q 0 0 0 rg BT 462.84 510.00 Td (ficers, ) Tj ET Q q 0 0 0 rg BT 487.23 510.00 Td (Corporate ) Tj ET Q q 0 0 0 rg BT 523.85 510.00 Td (Governance ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 500.40 Td (and ) Tj ET Q q 0 0 0 rg BT 63.16 500.40 Td (Board ) Tj ET Q q 0 0 0 rg BT 84.82 500.40 Td (of ) Tj ET Q q 0 0 0 rg BT 93.59 500.40 Td (Director ) Tj ET Q q 0 0 0 rg BT 122.36 500.40 Td (Matters ) Tj ET Q q 0 0 0 rg BT 152.45 500.40 Td (and ) Tj ET Q q 0 0 0 rg BT 166.11 500.40 Td (Section ) Tj ET Q q 0 0 0 rg BT 195.77 500.40 Td (16\(a\) ) Tj ET Q q 0 0 0 rg BT 214.76 500.40 Td (Beneficial ) Tj ET Q q 0 0 0 rg BT 249.74 500.40 Td (Ownership ) Tj ET Q q 0 0 0 rg BT 286.95 500.40 Td (Reporting ) Tj ET Q q 0 0 0 rg BT 321.06 500.40 Td (Compliance ) Tj ET Q q 0 0 0 rg BT 365.38 500.40 Td (in ) Tj ET Q q 0 0 0 rg BT 373.71 500.40 Td (our ) Tj ET Q q 0 0 0 rg BT 386.48 500.40 Td (Proxy ) Tj ET Q q 0 0 0 rg BT 407.70 500.40 Td (Statement ) Tj ET Q q 0 0 0 rg BT 441.80 500.40 Td (for ) Tj ET Q q 0 0 0 rg BT 453.24 500.40 Td (the ) Tj ET Q q 0 0 0 rg BT 465.13 500.40 Td (2015 ) Tj ET Q q 0 0 0 rg BT 482.77 500.40 Td (Annual ) Tj ET Q q 0 0 0 rg BT 508.43 500.40 Td (General ) Tj ET Q q 0 0 0 rg BT 535.85 500.40 Td (Meeting ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 490.80 Td (of ) Tj ET Q q 0 0 0 rg BT 58.16 490.80 Td (Shareholders.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 469.20 Td (ITEM ) Tj ET Q q 0 0 0 rg BT 72.84 469.20 Td (1) Tj ET Q q 0 0 0 rg BT 76.39 469.20 Td (1. ) Tj ET Q q 0 0 0 rg BT 94.50 469.20 Td (EXECUTIVE ) Tj ET Q q 0 0 0 rg BT 144.07 469.20 Td (COMPENSA) Tj ET Q q 0 0 0 rg BT 189.25 469.20 Td (TION) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 453.60 Td (The ) Tj ET Q q 0 0 0 rg BT 63.24 453.60 Td (information ) Tj ET Q q 0 0 0 rg BT 102.30 453.60 Td (required ) Tj ET Q q 0 0 0 rg BT 130.25 453.60 Td (by ) Tj ET Q q 0 0 0 rg BT 139.55 453.60 Td (Item ) Tj ET Q q 0 0 0 rg BT 155.51 453.60 Td (1) Tj ET Q q 0 0 0 rg BT 159.21 453.60 Td (1 ) Tj ET Q q 0 0 0 rg BT 164.51 453.60 Td (is ) Tj ET Q q 0 0 0 rg BT 171.14 453.60 Td (incorporated ) Tj ET Q q 0 0 0 rg BT 212.87 453.60 Td (herein ) Tj ET Q q 0 0 0 rg BT 234.15 453.60 Td (by ) Tj ET Q q 0 0 0 rg BT 243.45 453.60 Td (reference ) Tj ET Q q 0 0 0 rg BT 274.50 453.60 Td (to ) Tj ET Q q 0 0 0 rg BT 282.02 453.60 Td (the ) Tj ET Q q 0 0 0 rg BT 293.09 453.60 Td (sections ) Tj ET Q q 0 0 0 rg BT 320.16 453.60 Td (entitled ) Tj ET Q q 0 0 0 rg BT 345.45 453.60 Td (Compensation ) Tj ET Q q 0 0 0 rg BT 396.52 453.60 Td (Discussion ) Tj ET Q q 0 0 0 rg BT 432.93 453.60 Td (and ) Tj ET Q q 0 0 0 rg BT 445.49 453.60 Td (Analysis, ) Tj ET Q q 0 0 0 rg BT 480.34 453.60 Td (Summary ) Tj ET Q q 0 0 0 rg BT 516.30 453.60 Td (Compensation ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 444.00 Td (T) Tj ET Q q 0 0 0 rg BT 53.83 444.00 Td (able, ) Tj ET Q q 0 0 0 rg BT 75.26 444.00 Td (Compensation ) Tj ET Q q 0 0 0 rg BT 127.59 444.00 Td (Committee ) Tj ET Q q 0 0 0 rg BT 165.69 444.00 Td (Report ) Tj ET Q q 0 0 0 rg BT 193.57 444.00 Td (and ) Tj ET Q q 0 0 0 rg BT 207.68 444.00 Td (Compensation ) Tj ET Q q 0 0 0 rg BT 260.01 444.00 Td (Committee ) Tj ET Q q 0 0 0 rg BT 298.12 444.00 Td (Interlocks ) Tj ET Q q 0 0 0 rg BT 332.66 444.00 Td (and ) Tj ET Q q 0 0 0 rg BT 346.77 444.00 Td (Insider ) Tj ET Q q 0 0 0 rg BT 371.54 444.00 Td (Participation ) Tj ET Q q 0 0 0 rg BT 418.53 444.00 Td (in ) Tj ET Q q 0 0 0 rg BT 427.30 444.00 Td (our ) Tj ET Q q 0 0 0 rg BT 440.53 444.00 Td (Proxy ) Tj ET Q q 0 0 0 rg BT 462.20 444.00 Td (Statement ) Tj ET Q q 0 0 0 rg BT 496.74 444.00 Td (for ) Tj ET Q q 0 0 0 rg BT 508.63 444.00 Td (the ) Tj ET Q q 0 0 0 rg BT 520.96 444.00 Td (2015 ) Tj ET Q q 0 0 0 rg BT 538.95 444.00 Td (Annual ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 434.40 Td (General ) Tj ET Q q 0 0 0 rg BT 76.82 434.40 Td (Meeting ) Tj ET Q q 0 0 0 rg BT 105.48 434.40 Td (of ) Tj ET Q q 0 0 0 rg BT 114.14 434.40 Td (Shareholders.) 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Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 362.40 Td (Equity ) Tj ET Q q 0 0 0 rg BT 74.62 362.40 Td (Compensation ) Tj ET Q q 0 0 0 rg BT 125.96 362.40 Td (Plan ) Tj ET Q q 0 0 0 rg BT 143.52 362.40 Td (Information) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 346.80 Td (The ) Tj ET Q q 0 0 0 rg BT 63.55 346.80 Td (following ) Tj ET Q q 0 0 0 rg BT 96.27 346.80 Td (table ) Tj ET Q q 0 0 0 rg BT 113.43 346.80 Td (provides ) Tj ET Q q 0 0 0 rg BT 142.59 346.80 Td (information ) Tj ET Q q 0 0 0 rg BT 181.98 346.80 Td (as ) Tj ET Q q 0 0 0 rg BT 190.25 346.80 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 198.53 346.80 Td (December31, ) Tj ET Q q 0 0 0 rg BT 245.01 346.80 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 261.01 346.80 Td ( ) Tj ET Q q 0 0 0 rg BT 262.62 346.80 Td (about ) Tj ET Q q 0 0 0 rg BT 282.01 346.80 Td (common ) Tj ET Q q 0 0 0 rg BT 311.61 346.80 Td (stock ) Tj ET Q q 0 0 0 rg BT 330.11 346.80 Td (that ) Tj ET Q q 0 0 0 rg BT 343.72 346.80 Td (may ) Tj ET Q q 0 0 0 rg BT 359.11 346.80 Td (be ) Tj ET Q q 0 0 0 rg BT 368.27 346.80 Td (issued ) Tj ET Q q 0 0 0 rg BT 389.88 346.80 Td (upon ) Tj ET Q q 0 0 0 rg BT 407.50 346.80 Td (the ) Tj ET Q q 0 0 0 rg BT 418.88 346.80 Td (exercise ) Tj ET Q q 0 0 0 rg BT 446.70 346.80 Td (of ) Tj ET Q q 0 0 0 rg BT 454.97 346.80 Td (options, ) Tj ET Q q 0 0 0 rg BT 482.14 346.80 Td (warrants ) Tj ET Q q 0 0 0 rg BT 511.30 346.80 Td (and ) Tj ET Q q 0 0 0 rg BT 524.46 346.80 Td (rights ) Tj ET Q q 0 0 0 rg BT 544.30 346.80 Td (under ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 337.20 Td (all ) Tj ET Q q 0 0 0 rg BT 59.50 337.20 Td (of ) Tj ET Q q 0 0 0 rg BT 68.16 337.20 Td (our ) Tj ET Q q 0 0 0 rg BT 80.82 337.20 Td (existing ) Tj ET Q q 0 0 0 rg BT 108.16 337.20 Td (equity ) Tj ET Q q 0 0 0 rg BT 130.15 337.20 Td (compensation ) Tj ET Q q 0 0 0 rg BT 176.59 337.20 Td (plans.) 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m 300.5 164.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 180.70000000000005 m 561.5 180.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 166.70000000000005 m 561.5 166.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 164.70000000000005 m 561.5 164.70000000000005 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 242.00 312.95 Td (Equity Compensation Plan Information) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 237.05 297.95 Td (\(a\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.80 297.95 Td (\(b\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.55 297.95 Td (\(c\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 93.20 252.95 Td (Plan Category) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 188.05 268.95 Td (Number of securities to be issued) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 195.40 260.95 Td (upon exercise of outstanding) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 197.05 252.95 Td (options, warrants and rights) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 320.70 268.95 Td (Weighted average exercise price) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 320.95 260.95 Td (of outstanding options, warrants) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.60 252.95 Td (and rights) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.20 284.95 Td (Number of securities remaining) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 445.65 276.95 Td (available for future issuance under) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.30 268.95 Td (equity compensation plans) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 448.65 260.95 Td (\(excluding securities reflected in) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.20 252.95 Td (column \(a\)\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 239.93 Td (Equity compensation plans approved) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 231.93 Td (by security holders:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 218.95 Td (Stock options) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 234.65 218.95 Td (155,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 361.50 218.95 Td ($29.88) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.30 218.95 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 205.95 Td (Restricted stock units) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 228.65 205.95 Td (1,367,234) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.60 205.95 Td (n/a) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.30 205.95 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 192.95 Td (Equity compensation plans not) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 184.95 Td (approved by security holders) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 252.65 184.95 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.50 184.95 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.00 184.95 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 169.93 Td (Total) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 228.65 169.93 Td (1,522,234) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.50 169.93 Td ($29.88) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.00 169.93 Td (2,339,056) Tj ET Q BT /F1 8.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 153.60 Td (\(1\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 153.60 Td (There ) Tj ET Q q 0 0 0 rg BT 106.30 153.60 Td (were ) Tj ET Q q 0 0 0 rg BT 123.98 153.60 Td (2,339,056 ) Tj ET Q q 0 0 0 rg BT 158.13 153.60 Td (shares ) Tj ET Q q 0 0 0 rg BT 180.27 153.60 Td (available ) Tj ET Q q 0 0 0 rg BT 211.28 153.60 Td (for ) Tj ET Q q 0 0 0 rg BT 222.75 153.60 Td (issuance ) Tj ET Q q 0 0 0 rg BT 252.00 153.60 Td (under ) Tj ET Q q 0 0 0 rg BT 272.36 153.60 Td (CME) Tj ET Q q 0 0 0 rg BT 291.92 153.60 Td (s ) Tj ET Q q 0 0 0 rg BT 296.70 153.60 Td (Amended ) Tj ET Q q 0 0 0 rg BT 329.95 153.60 Td (and ) Tj ET Q q 0 0 0 rg BT 343.64 153.60 Td (Restated ) Tj ET Q q 0 0 0 rg BT 373.34 153.60 Td (Stock ) Tj ET Q q 0 0 0 rg BT 393.70 153.60 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 425.61 153.60 Td (Plan ) Tj ET Q q 0 0 0 rg BT 441.98 153.60 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.89 153.60 Td (December31, ) Tj ET Q q 0 0 0 rg BT 496.91 153.60 Td (2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 512.91 153.60 Td ( ) Tj ET Q q 0 0 0 rg BT 515.05 153.60 Td (after ) Tj ET Q q 0 0 0 rg BT 531.85 153.60 Td (reflecting ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 144.00 Td (both ) Tj ET Q q 0 0 0 rg BT 101.72 144.00 Td (stock ) Tj ET Q q 0 0 0 rg BT 120.61 144.00 Td (options ) Tj ET Q q 0 0 0 rg BT 146.17 144.00 Td (and ) Tj ET Q q 0 0 0 rg BT 159.72 144.00 Td (restricted ) Tj ET Q q 0 0 0 rg BT 191.48 144.00 Td (stock ) Tj ET Q q 0 0 0 rg BT 210.37 144.00 Td (units ) Tj ET Q q 0 0 0 rg BT 227.93 144.00 Td (in ) Tj ET Q q 0 0 0 rg BT 236.15 144.00 Td (column ) Tj ET Q q 0 0 0 rg BT 262.14 144.00 Td (\(a\).) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 122.40 Td (ITEM ) Tj ET Q q 0 0 0 rg BT 72.84 122.40 Td (13. ) Tj ET Q q 0 0 0 rg BT 94.50 122.40 Td (CER) Tj ET Q q 0 0 0 rg BT 111.11 122.40 Td (T) Tj ET Q q 0 0 0 rg BT 115.85 122.40 Td (AIN ) Tj ET Q q 0 0 0 rg BT 132.52 122.40 Td (RELA) Tj ET Q q 0 0 0 rg BT 154.15 122.40 Td (TIONSHIPS ) Tj ET Q q 0 0 0 rg BT 199.28 122.40 Td (AND ) Tj ET Q q 0 0 0 rg BT 218.61 122.40 Td (RELA) Tj ET Q q 0 0 0 rg BT 240.25 122.40 Td (TED ) Tj ET Q q 0 0 0 rg BT 258.55 122.40 Td (TRANSACTIONS, ) Tj ET Q q 0 0 0 rg BT 325.68 122.40 Td (AND ) Tj ET Q q 0 0 0 rg BT 345.01 122.40 Td (DIRECT) Tj ET Q q 0 0 0 rg BT 375.98 122.40 Td (OR ) Tj ET Q q 0 0 0 rg BT 389.98 122.40 Td (INDEPENDENCE) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 106.80 Td (The ) Tj ET Q q 0 0 0 rg BT 64.66 106.80 Td (information ) Tj ET Q q 0 0 0 rg BT 105.15 106.80 Td (required ) Tj ET Q q 0 0 0 rg BT 134.53 106.80 Td (by ) Tj ET Q q 0 0 0 rg BT 145.25 106.80 Td (Item ) Tj ET Q q 0 0 0 rg BT 162.64 106.80 Td (13 ) Tj ET Q q 0 0 0 rg BT 173.36 106.80 Td (is ) Tj ET Q q 0 0 0 rg BT 181.42 106.80 Td (incorporated ) Tj ET Q q 0 0 0 rg BT 224.57 106.80 Td (herein ) Tj ET Q q 0 0 0 rg BT 247.28 106.80 Td (by ) Tj ET Q q 0 0 0 rg BT 258.01 106.80 Td (reference ) Tj ET Q q 0 0 0 rg BT 290.48 106.80 Td (to ) Tj ET Q q 0 0 0 rg BT 299.42 106.80 Td (the ) Tj ET Q q 0 0 0 rg BT 311.92 106.80 Td (sections ) Tj ET Q q 0 0 0 rg BT 340.42 106.80 Td (entitled ) Tj ET Q q 0 0 0 rg BT 367.13 106.80 Td (Certain ) Tj ET Q q 0 0 0 rg BT 396.95 106.80 Td (Relationships ) Tj ET Q q 0 0 0 rg BT 443.23 106.80 Td (and ) Tj ET Q q 0 0 0 rg BT 457.51 106.80 Td (Related ) Tj ET Q q 0 0 0 rg BT 484.66 106.80 Td (Party ) Tj ET Q q 0 0 0 rg BT 504.08 106.80 Td (T) Tj ET Q q 0 0 0 rg BT 508.68 106.80 Td (ransactions ) Tj ET Q q 0 0 0 rg BT 550.94 106.80 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 97.20 Td (Corporate ) Tj ET Q q 0 0 0 rg BT 87.04 97.20 Td (Governance ) Tj ET Q q 0 0 0 rg BT 127.68 97.20 Td (and ) Tj ET Q q 0 0 0 rg BT 141.23 97.20 Td (Board ) Tj ET Q q 0 0 0 rg BT 162.79 97.20 Td (of ) Tj ET Q q 0 0 0 rg BT 171.45 97.20 Td (Director ) Tj ET Q q 0 0 0 rg BT 200.10 97.20 Td (Matters ) Tj ET Q q 0 0 0 rg BT 230.09 97.20 Td (in ) Tj ET Q q 0 0 0 rg BT 238.31 97.20 Td (our ) Tj ET Q q 0 0 0 rg BT 250.98 97.20 Td (Proxy ) Tj ET Q q 0 0 0 rg BT 272.09 97.20 Td (Statement ) Tj ET Q q 0 0 0 rg BT 306.08 97.20 Td (for ) Tj ET Q q 0 0 0 rg BT 317.41 97.20 Td (the ) Tj ET Q q 0 0 0 rg BT 329.18 97.20 Td (2015 ) Tj ET Q q 0 0 0 rg BT 346.74 97.20 Td (Annual ) Tj ET Q q 0 0 0 rg BT 372.29 97.20 Td (General ) Tj ET Q q 0 0 0 rg BT 399.61 97.20 Td (Meeting ) Tj ET Q q 0 0 0 rg BT 428.27 97.20 Td (of ) Tj ET Q q 0 0 0 rg BT 436.93 97.20 Td (Shareholders.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 75.60 Td (ITEM ) Tj ET Q q 0 0 0 rg BT 72.84 75.60 Td (14. ) Tj ET Q q 0 0 0 rg BT 94.50 75.60 Td (PRINCIP) Tj ET Q q 0 0 0 rg BT 127.24 75.60 Td (AL) Tj ET Q q 0 0 0 rg BT 137.91 75.60 Td ( ) Tj ET Q q 0 0 0 rg BT 139.47 75.60 Td (ACCOUNT) Tj ET Q q 0 0 0 rg BT 179.32 75.60 Td (ANT) Tj ET Q q 0 0 0 rg BT 196.07 75.60 Td ( ) Tj ET Q q 0 0 0 rg BT 198.07 75.60 Td (FEES ) Tj ET Q q 0 0 0 rg BT 219.63 75.60 Td (AND ) Tj ET Q q 0 0 0 rg BT 238.96 75.60 Td (SER) Tj ET Q q 0 0 0 rg BT 254.25 75.60 Td (VICES) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 60.00 Td (The ) Tj ET Q q 0 0 0 rg BT 63.61 60.00 Td (information ) Tj ET Q q 0 0 0 rg BT 103.06 60.00 Td (required ) Tj ET Q q 0 0 0 rg BT 131.39 60.00 Td (by ) Tj ET Q q 0 0 0 rg BT 141.06 60.00 Td (Item ) Tj ET Q q 0 0 0 rg BT 157.40 60.00 Td (14 ) Tj ET Q q 0 0 0 rg BT 167.07 60.00 Td (is ) Tj ET Q q 0 0 0 rg BT 174.09 60.00 Td (incorporated ) Tj ET Q q 0 0 0 rg BT 216.19 60.00 Td (herein ) Tj ET Q q 0 0 0 rg BT 237.85 60.00 Td (by ) Tj ET Q q 0 0 0 rg BT 247.53 60.00 Td (reference ) Tj ET Q q 0 0 0 rg BT 278.95 60.00 Td (to ) Tj ET Q q 0 0 0 rg BT 286.85 60.00 Td (the ) Tj ET Q q 0 0 0 rg BT 298.30 60.00 Td (section ) Tj ET Q q 0 0 0 rg BT 322.63 60.00 Td (entitled ) Tj ET Q q 0 0 0 rg BT 348.30 60.00 Td (Selection ) Tj ET Q q 0 0 0 rg BT 383.30 60.00 Td (of ) Tj ET Q q 0 0 0 rg BT 391.27 60.00 Td (Auditors ) Tj ET Q q 0 0 0 rg BT 424.49 60.00 Td (in ) Tj ET Q q 0 0 0 rg BT 432.39 60.00 Td (our ) Tj ET Q q 0 0 0 rg BT 444.73 60.00 Td (Proxy ) Tj ET Q q 0 0 0 rg BT 465.52 60.00 Td (Statement ) Tj ET Q q 0 0 0 rg BT 499.19 60.00 Td (for ) Tj ET Q q 0 0 0 rg BT 510.19 60.00 Td (the ) Tj ET Q q 0 0 0 rg BT 521.64 60.00 Td (2015 ) Tj ET Q q 0 0 0 rg BT 538.95 60.00 Td (Annual ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 50.40 Td (General ) Tj ET Q q 0 0 0 rg BT 76.82 50.40 Td (Meeting ) Tj ET Q q 0 0 0 rg BT 105.48 50.40 Td (of ) Tj ET Q q 0 0 0 rg BT 114.14 50.40 Td (Shareholders.) Tj ET Q endstream endobj 193 0 obj <>] /Rotate 0 /Contents 194 0 R>> endobj 194 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (94) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 702.00 Td (P) Tj ET Q q 0 0 0 rg BT 53.79 702.00 Td (AR) Tj ET Q q 0 0 0 rg BT 65.07 702.00 Td (T) Tj ET Q q 0 0 0 rg BT 70.26 702.00 Td ( ) Tj ET Q q 0 0 0 rg BT 72.26 702.00 Td (IV) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 680.40 Td (ITEM 15. ) Tj ET Q q 0 0 0 rg BT 94.50 680.40 Td (EXHIBITS ) Tj ET Q q 0 0 0 rg BT 134.74 680.40 Td (AND FINANCIAL) Tj ET Q q 0 0 0 rg BT 198.97 680.40 Td ( ST) Tj ET Q q 0 0 0 rg BT 210.16 680.40 Td (A) Tj ET Q q 0 0 0 rg BT 215.34 680.40 Td (TEMENT) Tj ET Q q 0 0 0 rg BT 249.87 680.40 Td ( SCHEDULES) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 664.80 Td (\(a\)\(1\) ) Tj ET Q q 0 0 0 rg BT 69.56 664.80 Td (The following financial statements of Central European Media Enterprises Ltd. are included in Part II, Item 8 of this Report:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 649.20 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 649.20 Td (Report of Independent Registered Public ) Tj ET Q q 0 0 0 rg BT 217.69 649.20 Td (Accounting Firm;) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 633.60 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 633.60 Td (Consolidated Balance Sheets as of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 197.70 633.60 Td (December31, 2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.56 633.60 Td ( and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 276.11 633.60 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.11 633.60 Td (;) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 618.00 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 618.00 Td (Consolidated Statements of Operations and Comprehensive Income for the years ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.42 618.00 Td (December31, 2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.29 618.00 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.29 618.00 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.29 618.00 Td ( and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.84 618.00 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.84 618.00 Td (;) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 602.40 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 602.40 Td (Consolidated Statements of Equity for the years ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 261.90 602.40 Td (December31, 2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 324.77 602.40 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.77 602.40 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.77 602.40 Td ( and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 360.32 602.40 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.32 602.40 Td (;) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 586.80 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 586.80 Td (Consolidated Statements of Cash Flows for the years ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.13 586.80 Td (December31, 2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 341.00 586.80 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 345.00 586.80 Td (2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 361.00 586.80 Td ( and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.55 586.80 Td (2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.55 586.80 Td (; and) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 571.20 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 571.20 Td (Notes to Consolidated Financial Statements.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 555.60 Td (\(a\)\(2\) Financial Statement Schedule \(included at page S-1 of this ) Tj ET Q q 0 0 0 rg BT 258.77 555.60 Td (Annual Report on Form 10-K\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 540.00 Td (\(a\)\(3\) ) Tj ET Q q 0 0 0 rg BT 69.56 540.00 Td (The following exhibits are included in this report:) Tj ET Q endstream endobj 195 0 obj <>] /Rotate 0 /Contents 196 0 R>> endobj 196 0 obj <> stream BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 50 772.10029296875 m 70.49169921875 772.10029296875 l s q 0 0 1 rg BT 50.00 773.30 Td (Index) Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.00 35.00 Td (95) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 723.60 Td (EXHIBIT) Tj ET Q q 0 0 0 rg BT 83.59 723.60 Td ( ) Tj ET Q q 0 0 0 rg BT 85.59 723.60 Td (INDEX) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 689.10 50.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 100.00 689.10 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.00 689.10 458.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 653.10 50.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 100.00 653.10 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.00 653.10 458.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 617.10 50.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 100.00 617.10 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.00 617.10 458.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 581.10 50.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 100.00 581.10 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.00 581.10 458.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 545.10 50.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 100.00 545.10 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.00 545.10 458.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 503.10 50.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 100.00 503.10 4.00 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0.9333333333333333 1 rg /GS0 gs 100.00 144.10 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.00 144.10 458.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 109.10 50.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 100.00 109.10 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.00 109.10 458.00 -29.00 re f /GS0 gs BT /F1 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 700.28671875 m 76.0546875 700.28671875 l s q 0 0 0 rg BT 52.50 701.35 Td (Exhibit) Tj ET Q BT /F1 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 692.28671875 m 78.71484375 692.28671875 l s q 0 0 0 rg BT 52.50 693.35 Td (Number) Tj ET Q BT /F1 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 106.5 692.28671875 m 143.82421875 692.28671875 l s q 0 0 0 rg BT 106.50 693.35 Td (Description) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 681.05 Td (3.01*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 681.05 Td (Memorandum of Association \(incorporated by reference to Exhibit 3.01 to the Company's Registration Statement No. 3380344 on Form S-1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 673.05 Td (filed June 17, 1994\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 645.05 Td (3.02*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 645.05 Td (Memorandum of Increase of Share Capital \(incorporated by reference Exhibit 3.03 to Amendment No. 1 to the Company's Registration) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 637.05 Td (Statement No. 33-80344 on Form S-1, filed August 19, 1994\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 609.05 Td (3.03*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 609.05 Td (Memorandum of Reduction of Share Capital \(incorporated by reference to Exhibit 3.04 to Amendment No. 2 to the Company's Registration) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 601.05 Td (Statement No. 33-80344 on Form S-1, filed September 14, 1994\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 573.05 Td (3.04*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 573.05 Td (Certificate of Deposit of Memorandum of Increase of Share Capital executed by the Registrar of Companies on May 20, 1997 \(incorporated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 565.05 Td (by reference to Exhibit 3.1 to the Company's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 1997\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 537.05 Td (3.05*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 537.05 Td (Certificate of Deposit of Memorandum of Increase of Share Capital executed by the Registrar of Companies on July 11, 2012 \(incorporated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 529.05 Td (by reference to Exhibit 3.05 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2012\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 495.05 Td (3.06*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 495.05 Td (Certificate of Deposit of Memorandum of Increase of Share Capital executed by the Registrar of Companies on July 3, 2013 \(incorporated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 487.05 Td (by reference to Exhibit 3.02 to the Company's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2013\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 459.05 Td (3.07*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 459.05 Td (Certificate of Deposit of Memorandum of Increase of Share Capital executed by the Registrar of Companies on ) Tj ET Q q 0 0 0 rg BT 464.83 459.05 Td (April 28, 2014 \(incorporated ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 451.05 Td (by reference to Exhibit 3.02 to the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2014\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 424.05 Td (3.08*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 424.05 Td (Bye-Laws of Central European Media Enterprises Ltd., as amended and restated on April 14, 2014 \(incorporated by reference to Exhibit) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 416.05 Td (3.01 to the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2014\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 388.05 Td (4.01*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 388.05 Td (Specimen Class A Common Stock Certificate \(incorporated by reference to Exhibit 4.01 to Amendment No. 1 to the Company's Registration) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 380.05 Td (Statement No. 33-80344 on Form S-1, filed August 19, 1994\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 352.05 Td (4.02*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 352.05 Td (Indenture among Central European Media Enterprises Ltd. as issuer, Central European Media Enterprises N.V. and CME Media Enterprises) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 344.05 Td (B.V. as guarantors, and Deutsche Bank Trust Company Americas as trustee, security agent, paying agent, conversion agent, transfer agent) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 336.05 Td (and registrar, dated February 18, 2011 \(incorporated by reference to Exhibit 4.1 to the Company's Quarterly Report on Form 10-Q for the) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 328.05 Td (quarterly period ended March 31, 2011\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 296.05 Td (4.03*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 296.05 Td (Indenture, dated May 2, 2014, between Central European Media Enterprises Ltd. \(as Issuer\), Central European Media Enterprises N.V) Tj ET Q q 0 0 0 rg BT 535.77 296.05 Td (., ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 288.05 Td (CME Media Enterprises B.V) Tj ET Q q 0 0 0 rg BT 198.34 288.05 Td (. \(as Guarantors\) and Deutsche Bank ) Tj ET Q q 0 0 0 rg BT 317.94 288.05 Td (T) Tj ET Q q 0 0 0 rg BT 322.54 288.05 Td (rust Company ) Tj ET Q q 0 0 0 rg BT 369.21 288.05 Td (Americas \(as ) Tj ET Q q 0 0 0 rg BT 413.05 288.05 Td (T) Tj ET Q q 0 0 0 rg BT 417.65 288.05 Td (rustee, Paying ) Tj ET Q q 0 0 0 rg BT 464.54 288.05 Td (Agent, ) Tj ET Q q 0 0 0 rg BT 487.94 288.05 Td (T) Tj ET Q q 0 0 0 rg BT 492.55 288.05 Td (ransfer ) Tj ET Q q 0 0 0 rg BT 516.31 288.05 Td (Agent and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 280.05 Td (Registrar\) \(incorporated by reference to Exhibit 4.2 to the Company) Tj ET Q q 0 0 0 rg BT 326.43 280.05 Td (s Current Report on Form 8-K filed on May 5, 2014\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 252.05 Td (4.04*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 252.05 Td (Warrant to Purchase Common Stock issued to Metrodome B.V. \(formerly known as Media Pro B.V.\), dated December 9, 2009 \(incorporated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 244.05 Td (by reference to Exhibit 4.07 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2009\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 216.05 Td (4.05*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 216.05 Td (Warrant to Purchase Common Stock issued to Alerria Management Company S.A. \(formerly known as Media Pro Management S.A.\), dated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 208.05 Td (December 9, 2009 \(incorporated by reference to Exhibit 4.08 to the Company's Annual Report on Form 10-K for the fiscal year ended) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 200.05 Td (December 31, 2009\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 172.05 Td (4.06*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 172.05 Td (W) Tj ET Q q 0 0 0 rg BT 113.41 172.05 Td (arrant ) Tj ET Q q 0 0 0 rg BT 133.62 172.05 Td (Agreement, dated May 2, 2014, between Central European Media Enterprises Ltd. and ) Tj ET Q q 0 0 0 rg BT 412.64 172.05 Td (American Stock ) Tj ET Q q 0 0 0 rg BT 466.26 172.05 Td (T) Tj ET Q q 0 0 0 rg BT 470.87 172.05 Td (ransfer & ) Tj ET Q q 0 0 0 rg BT 503.15 172.05 Td (T) Tj ET Q q 0 0 0 rg BT 507.76 172.05 Td (rust Company) Tj ET Q q 0 0 0 rg BT 552.35 172.05 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 164.05 Td (LLC \(as ) Tj ET Q q 0 0 0 rg BT 134.79 164.05 Td (W) Tj ET Q q 0 0 0 rg BT 141.70 164.05 Td (arrant ) Tj ET Q q 0 0 0 rg BT 161.91 164.05 Td (Agent\) \(incorporated by reference to Exhibit 4.1 to the Company) Tj ET Q q 0 0 0 rg BT 372.07 164.05 Td (s Current Report on Form 8-K filed May 5, 2014\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 136.05 Td (4.07*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 136.05 Td (Private Unit Warrant Agreement, dated May 2, 2014, between Central European Media Enterprises Ltd. and American Stock Transfer &) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 128.05 Td (Trust Company, LLC \(incorporated by reference to Exhibit 10.1 to the Companys Current Report on Form 8-K filed on May 5, 2014\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 101.05 Td (4.08*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 101.05 Td (Initial ) Tj ET Q q 0 0 0 rg BT 127.46 101.05 Td (W) Tj ET Q q 0 0 0 rg BT 134.37 101.05 Td (arrant ) Tj ET Q q 0 0 0 rg BT 154.58 101.05 Td (Agreement, dated May 2, 2014, between Central European Media Enterprises Ltd. and ) Tj ET Q q 0 0 0 rg BT 433.61 101.05 Td (American Stock ) Tj ET Q q 0 0 0 rg BT 487.22 101.05 Td (T) Tj ET Q q 0 0 0 rg BT 491.83 101.05 Td (ransfer & ) Tj ET Q q 0 0 0 rg BT 524.11 101.05 Td (T) Tj ET Q q 0 0 0 rg BT 528.72 101.05 Td (rust ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 93.05 Td (Company) Tj ET Q q 0 0 0 rg BT 137.09 93.05 Td (, LLC \(as ) Tj ET Q q 0 0 0 rg BT 169.38 93.05 Td (W) Tj ET Q q 0 0 0 rg BT 176.29 93.05 Td (arrant ) Tj ET Q q 0 0 0 rg BT 196.50 93.05 Td (Agent\) \(incorporated by reference to Exhibit 10.2 to the Company) Tj ET Q q 0 0 0 rg BT 410.66 93.05 Td (s Current Report on Form 8-K filed on May ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 85.05 Td (5, 2014\).) 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1 rg /GS0 gs 100.00 707.50 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.00 707.50 458.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 669.50 50.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 100.00 669.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.00 669.50 458.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 633.50 50.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 100.00 633.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.00 633.50 458.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 597.50 50.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 100.00 597.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.00 597.50 458.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 561.50 50.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 100.00 561.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 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filed on May 5,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 691.45 Td (2014\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 661.45 Td (4.10*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 661.45 Td (Form of Note for the 15.0% Senior Secured Notes due 2017 \(incorporated by reference to Exhibit 4.4 to the Companys Current Report on) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 653.45 Td (Form 8-K filed on May 5, 2014\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 625.45 Td (4.11*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 625.45 Td (Registration Rights Agreement between the Company and Time Warner Holdings B.V., dated May 18, 2009 \(incorporated by reference to) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 617.45 Td (Exhibit 4.11 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2009\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 589.45 Td (4.12*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 589.45 Td (Registration Rights Agreement, by and among Ronald S. Lauder, RSL Capital LLC and Central European Media Enterprises Ltd., dated as) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 581.45 Td (of April 30, 2012 \(incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K filed on April 30, 2012\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 553.45 Td (4.13*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 553.45 Td (Certificate of Designation of the Series A Convertible Preferred Stock of Central European Media Enterprises Ltd., dated July 2, 2012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 545.45 Td (\(incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K filed on July 3, 2012\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 517.45 Td (4.14*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 517.45 Td (Certificate of Designation of the Series B Convertible Redeemable Preferred Stock of Central European Media Enterprises Ltd., issued on) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 509.45 Td (June 25, 2013 \(incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K filed on June 25, 2013\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 483.45 Td (10.01*+) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 483.45 Td (Central European Media Enterprises Ltd. ) Tj ET Q q 0 0 0 rg BT 239.79 483.45 Td (Amended and Restated Stock Incentive Plan, as amended on June 13, 2012 \(incorporated by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 475.45 Td (reference to Exhibit 10.7 to the Company's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2012\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 452.45 Td (10.02*+) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 452.45 Td (Form of Employee Stock Option \(incorporated by reference to the Company's Quarterly Report on Form 10-Q for the quarterly period ended) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 444.45 Td (September 30, 2004\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 416.45 Td (10.03*+) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 416.45 Td (Form of Restricted Stock Unit ) Tj ET Q q 0 0 0 rg BT 204.94 416.45 Td (A) Tj ET Q q 0 0 0 rg BT 209.98 416.45 Td (ward ) Tj ET Q q 0 0 0 rg BT 227.53 416.45 Td (Agreement \(incorporated by reference to Exhibit 10.1 to the Company) Tj ET Q q 0 0 0 rg BT 455.01 416.45 Td (s Current Report on Form 8-K ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 408.45 Td (filed on June 13, 2012\). ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 382.45 Td (10.04*+) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 382.45 Td (Form of Restricted Stock Unit ) Tj ET Q q 0 0 0 rg BT 204.94 382.45 Td (A) Tj ET Q q 0 0 0 rg BT 209.98 382.45 Td (ward ) Tj ET Q q 0 0 0 rg BT 227.53 382.45 Td (Agreement \(time-based vesting\) \(incorporated by reference to Exhibit 10.01 to the Company's ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 374.45 Td (Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2014\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 347.45 Td (10.05*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 346.07 Td (Framework ) Tj ET Q q 0 0 0 rg BT 144.94 346.07 Td (Agreement among CME Media Pro B.V) Tj ET Q q 0 0 0 rg BT 273.22 346.07 Td (. \(formerly known) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.12156862745098039 0.28627450980392155 0.49019607843137253 rg BT 331.65 346.07 Td ( ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 334.15 346.07 Td (as CME Production B.V) Tj ET Q q 0 0 0 rg BT 411.34 346.07 Td (.\), CME Investments B.V) Tj ET Q q 0 0 0 rg BT 492.08 346.07 Td (. \(formerly known ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 337.45 Td (as CME Romania B.V) Tj ET Q q 0 0 0 rg BT 177.46 337.45 Td (.\), ) Tj ET Q q 0 0 0 rg BT 185.69 337.45 Td (Alerria Management Company S.A. \(formerly known as Media Pro Management S.A.\), Metrodome B.V) Tj ET Q q 0 0 0 rg BT 520.14 337.45 Td (. \(formerly ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 329.45 Td (known as Media Pro B.V) Tj ET Q q 0 0 0 rg BT 186.57 329.45 Td (.\) and ) Tj ET Q q 0 0 0 rg BT 206.35 329.45 Td (Adrian Sarbu, dated July 27, 2009 \(incorporated by reference to Exhibit 10.5 to the Company's Quarterly ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 321.45 Td (Report on Form 10-Q for the quarterly period ended September 30, 2009\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 293.45 Td (10.06*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 292.07 Td (Amendment to the Framework ) Tj ET Q q 0 0 0 rg BT 206.48 292.07 Td (Agreement among CME Media Pro BV) Tj ET Q q 0 0 0 rg BT 333.65 292.07 Td ( \(formerly known) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.12156862745098039 0.28627450980392155 0.49019607843137253 rg BT 390.08 292.07 Td ( ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 392.58 292.07 Td (as CME Production B.V) Tj ET Q q 0 0 0 rg BT 469.77 292.07 Td (.\), CME Investments B.V) Tj ET Q q 0 0 0 rg BT 550.51 292.07 Td (. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 283.45 Td (\(formerly known as CME Romania B.V) Tj ET Q q 0 0 0 rg BT 233.89 283.45 Td (.\), ) Tj ET Q q 0 0 0 rg BT 242.12 283.45 Td (Alerria Management Company S.A. \(formerly known as Media Pro Management S.A.\), ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 275.45 Td (Metrodome B.V) Tj ET Q q 0 0 0 rg BT 157.91 275.45 Td (. \(formerly known as Media Pro B.V) Tj ET Q q 0 0 0 rg BT 274.63 275.45 Td (.\) and ) Tj ET Q q 0 0 0 rg BT 294.41 275.45 Td (Adrian Sarbu, dated December 9, 2009 \(incorporated by reference to Exhibit ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 267.45 Td (10.66 to the Company's ) Tj ET Q q 0 0 0 rg BT 183.72 267.45 Td (Annual Report on Form 10-K for the fiscal year ended December 31, 2009\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 240.45 Td (10.07*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 240.45 Td (Investment ) Tj ET Q q 0 0 0 rg BT 143.61 240.45 Td (Agreement between CME Media Enterprises B.V) Tj ET Q q 0 0 0 rg BT 301.64 240.45 Td (, and ) Tj ET Q q 0 0 0 rg BT 319.05 240.45 Td (T) Tj ET Q q 0 0 0 rg BT 323.38 240.45 Td (op ) Tj ET Q q 0 0 0 rg BT 333.23 240.45 Td (T) Tj ET Q q 0 0 0 rg BT 337.56 240.45 Td (one Media Holdings Limited, dated ) Tj ET Q q 0 0 0 rg BT 453.09 240.45 Td (April 22, 2010 \(incorporated by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 232.45 Td (reference to Exhibit 10.5 to the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2010\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 206.45 Td (10.08*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 206.45 Td (Subscription Agreement, by and between Central European Media Enterprises Ltd. and TW Media Holdings LLC, dated March 22, 2009) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 198.45 Td (\(incorporated by reference to Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2009\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 170.45 Td (10.09*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 170.45 Td (Pledge ) Tj ET Q q 0 0 0 rg BT 129.83 170.45 Td (Agreement among Central European Media Enterprises Ltd., Central European Media Enterprises N.V) Tj ET Q q 0 0 0 rg BT 458.03 170.45 Td (. and Deutsche Bank ) Tj ET Q q 0 0 0 rg BT 526.09 170.45 Td (T) Tj ET Q q 0 0 0 rg BT 530.69 170.45 Td (rust ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 162.45 Td (Company ) Tj ET Q q 0 0 0 rg BT 139.17 162.45 Td (Americas, dated February 18, 201) Tj ET Q q 0 0 0 rg BT 247.73 162.45 Td (1 \(incorporated by reference to Exhibit 10.2 to the Company's Quarterly Report on Form 10-Q ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 154.45 Td (for the quarterly period ended March 31, 201) Tj ET Q q 0 0 0 rg BT 250.60 154.45 Td (1\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 127.45 Td (10.10*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 127.45 Td (Deed of Pledge of Shares among Central European Media Enterprises N.V) Tj ET Q q 0 0 0 rg BT 344.73 127.45 Td (., CME Media Enterprises B.V) Tj ET Q q 0 0 0 rg BT 442.57 127.45 Td (. and Deutsche Bank ) Tj ET Q q 0 0 0 rg BT 510.63 127.45 Td (T) Tj ET Q q 0 0 0 rg BT 515.24 127.45 Td (rust ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 119.45 Td (Company ) Tj ET Q q 0 0 0 rg BT 139.17 119.45 Td (Americas, dated February 18, 201) Tj ET Q q 0 0 0 rg BT 247.73 119.45 Td (1 \(incorporated by reference to Exhibit 10.3 to the Company's Quarterly Report on Form 10-Q ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 111.45 Td (for the quarterly period ended March 31, 201) Tj ET Q q 0 0 0 rg BT 250.60 111.45 Td (1\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 85.45 Td (10.11*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 85.45 Td (Subscription and Equity Commitment ) Tj ET Q q 0 0 0 rg BT 229.61 85.45 Td (Agreement, by and between ) Tj ET Q q 0 0 0 rg BT 321.21 85.45 Td (T) Tj ET Q q 0 0 0 rg BT 325.81 85.45 Td (ime ) Tj ET Q q 0 0 0 rg BT 339.66 85.45 Td (W) Tj ET Q q 0 0 0 rg BT 346.57 85.45 Td (arner Media Holdings B.V) Tj ET Q q 0 0 0 rg BT 430.86 85.45 Td (. and the Company) Tj ET Q q 0 0 0 rg BT 490.77 85.45 Td (, dated as of ) Tj ET Q q 0 0 0 rg BT 530.98 85.45 Td (April ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 77.45 Td (30, 2012 \(incorporated by reference to Exhibit 10.2 to the Company's Current Report on Form 8-K filed on ) Tj ET Q q 0 0 0 rg BT 450.98 77.45 Td (April 30, 2012\).) 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Lauder) Tj ET Q q 0 0 0 rg BT 257.26 691.45 Td (, dated as of ) Tj ET Q q 0 0 0 rg BT 297.47 691.45 Td (April 30, 2012 \(incorporated by reference to Exhibit 10.3 to the Company's ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 683.45 Td (Current Report on Form 8-K filed on ) Tj ET Q q 0 0 0 rg BT 226.71 683.45 Td (April 30, 2012\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 657.45 Td (10.13*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 657.45 Td (Subscription ) Tj ET Q q 0 0 0 rg BT 148.50 657.45 Td (Agreement, by and among Ronald S. Lauder) Tj ET Q q 0 0 0 rg BT 291.26 657.45 Td (, RSL) Tj ET Q q 0 0 0 rg BT 309.63 657.45 Td ( Capital LLC and the Company) Tj ET Q q 0 0 0 rg BT 409.76 657.45 Td (, dated as of ) Tj ET Q q 0 0 0 rg BT 449.97 657.45 Td (April 30, 2012 \(incorporated by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 649.45 Td (reference to Exhibit 10.4 to the Company's Current Report on Form 8-K filed on ) Tj ET Q q 0 0 0 rg BT 365.89 649.45 Td (April 30, 2012\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 622.45 Td (10.14*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 622.45 Td (Indemnity Agreement, by and among Central European Media Enterprises Ltd., Ronald S. Lauder and RSL Savannah LLC, dated as of) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 614.45 Td (March 22, 2009 \(incorporated by reference to Exhibit 10.2 to the Company's Quarterly Report on Form 10-Q for the quarterly period ended) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 606.45 Td (March 31, 2009\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 577.45 Td (10.15*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 577.45 Td (Investor Rights Agreement among the Company, Ronald S. Lauder, RSL Savannah LLC, RSL Investment LLC, RSL Investments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 569.45 Td (Corporation and Time Warner Media Holdings B.V., dated May 18, 2009 \(incorporated by reference to Exhibit 10.71 to the Company's) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 561.45 Td (Annual Report on Form 10-K for the fiscal year ended December 31, 2009\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 533.45 Td (10.16*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 533.45 Td (First ) Tj ET Q q 0 0 0 rg BT 122.73 533.45 Td (Amendment to the Investor Rights ) Tj ET Q q 0 0 0 rg BT 234.94 533.45 Td (Agreement, by and among the Company) Tj ET Q q 0 0 0 rg BT 364.17 533.45 Td (, Ronald S. Lauder) Tj ET Q q 0 0 0 rg BT 424.06 533.45 Td (, RSL) Tj ET Q q 0 0 0 rg BT 442.43 533.45 Td ( Savannah LLC, RSL) Tj ET Q q 0 0 0 rg BT 511.02 533.45 Td ( Capital LLC, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 525.45 Td (RSL) Tj ET Q q 0 0 0 rg BT 120.88 525.45 Td ( Investments Corporation and ) Tj ET Q q 0 0 0 rg BT 217.60 525.45 Td (T) Tj ET Q q 0 0 0 rg BT 222.21 525.45 Td (ime ) Tj ET Q q 0 0 0 rg BT 236.06 525.45 Td (W) Tj ET Q q 0 0 0 rg BT 242.97 525.45 Td (arner Media Holdings B.V) Tj ET Q q 0 0 0 rg BT 327.25 525.45 Td (., dated as of ) Tj ET Q q 0 0 0 rg BT 369.46 525.45 Td (April 30, 2012 \(incorporated by reference to Exhibit 10.5 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 517.45 Td (to the Company's Current Report on Form 8-K filed on ) Tj ET Q q 0 0 0 rg BT 284.37 517.45 Td (April 30, 2012\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 491.45 Td (10.17*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 491.45 Td (Underwriting ) Tj ET Q q 0 0 0 rg BT 151.16 491.45 Td (Agreement, dated as of May 2, 2013, by and between Central European Media Enterprises Ltd. and J.P) Tj ET Q q 0 0 0 rg BT 480.18 491.45 Td (. Mor) Tj ET Q q 0 0 0 rg BT 497.81 491.45 Td (gan Securities ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 483.45 Td (LLC, as representative of the several underwriters named therein \(incorporated by reference to Exhibit 1.1 to the Company's Current Report ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 475.45 Td (on Form 8-K filed on May 8, 2013\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 449.45 Td (10.18*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 449.45 Td (Subscription ) Tj ET Q q 0 0 0 rg BT 148.50 449.45 Td (Agreement, dated as of ) Tj ET Q q 0 0 0 rg BT 224.25 449.45 Td (April 29, 2013, by and between Central European Media Enterprises Ltd. and ) Tj ET Q q 0 0 0 rg BT 474.48 449.45 Td (T) Tj ET Q q 0 0 0 rg BT 479.09 449.45 Td (ime ) Tj ET Q q 0 0 0 rg BT 492.94 449.45 Td (W) Tj ET Q q 0 0 0 rg BT 499.85 449.45 Td (arner Media ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 441.45 Td (Holdings B.V) Tj ET Q q 0 0 0 rg BT 149.92 441.45 Td (. \(incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filed on ) Tj ET Q q 0 0 0 rg BT 468.40 441.45 Td (April 29, 2013\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 414.45 Td (10.19*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 414.45 Td (Letter ) Tj ET Q q 0 0 0 rg BT 127.16 414.45 Td (Agreement, dated as of ) Tj ET Q q 0 0 0 rg BT 202.91 414.45 Td (April 29, 2013, by and between RSL) Tj ET Q q 0 0 0 rg BT 320.37 414.45 Td ( Savannah LLC, RSL) Tj ET Q q 0 0 0 rg BT 388.96 414.45 Td ( Capital LLC, RSL) Tj ET Q q 0 0 0 rg BT 449.55 414.45 Td ( Investments Corporation, Ronald ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 406.45 Td (S. Lauder and ) Tj ET Q q 0 0 0 rg BT 153.01 406.45 Td (T) Tj ET Q q 0 0 0 rg BT 157.61 406.45 Td (ime ) Tj ET Q q 0 0 0 rg BT 171.46 406.45 Td (W) Tj ET Q q 0 0 0 rg BT 178.38 406.45 Td (arner Media Holdings B.V) Tj ET Q q 0 0 0 rg BT 262.66 406.45 Td (. \(incorporated by reference to Exhibit 10.2 to the Company's Current Report on Form 8-K ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 398.50 Td (filed on ) Tj ET Q q 0 0 0 rg BT 132.72 398.50 Td (April 29, 2013\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 373.45 Td (10.20*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 373.45 Td (Framework ) Tj ET Q q 0 0 0 rg BT 144.94 373.45 Td (Agreement, dated as of February 28, 2014, among Central European Media Enterprises Ltd., ) Tj ET Q q 0 0 0 rg BT 443.37 373.45 Td (T) Tj ET Q q 0 0 0 rg BT 447.98 373.45 Td (ime ) Tj ET Q q 0 0 0 rg BT 461.83 373.45 Td (W) Tj ET Q q 0 0 0 rg BT 468.74 373.45 Td (arner Inc. and ) Tj ET Q q 0 0 0 rg BT 514.79 373.45 Td (T) Tj ET Q q 0 0 0 rg BT 519.39 373.45 Td (ime ) Tj ET Q q 0 0 0 rg BT 533.25 373.45 Td (W) Tj ET Q q 0 0 0 rg BT 540.16 373.45 Td (arner ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 365.45 Td (Media Holdings B.V) Tj ET Q q 0 0 0 rg BT 172.36 365.45 Td (. \(incorporated by reference to Exhibit 99.1 to the Company) Tj ET Q q 0 0 0 rg BT 366.30 365.45 Td (s Registration Statement on Form S-3 filed February 28, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 357.45 Td (2014\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 331.45 Td (10.21*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 331.45 Td (Standby Purchase ) Tj ET Q q 0 0 0 rg BT 165.16 331.45 Td (Agreement, dated as of March 24, 2014, between Central European Media Enterprises Ltd. and ) Tj ET Q q 0 0 0 rg BT 472.02 331.45 Td (T) Tj ET Q q 0 0 0 rg BT 476.63 331.45 Td (ime ) Tj ET Q q 0 0 0 rg BT 490.48 331.45 Td (W) Tj ET Q q 0 0 0 rg BT 497.39 331.45 Td (arner Media ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 323.45 Td (Holdings B.V) Tj ET Q q 0 0 0 rg BT 149.92 323.45 Td (. \(incorporated by reference to Exhibit 10.1 to the Company) Tj ET Q q 0 0 0 rg BT 343.86 323.45 Td (s Current Report on Form 8-K filed March 27, 2014\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 296.45 Td (10.22*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 296.45 Td (Pledge ) Tj ET Q q 0 0 0 rg BT 129.83 296.45 Td (Agreement on Shares in Central European Media Enterprises N.V) Tj ET Q q 0 0 0 rg BT 340.07 296.45 Td (., dated May 2, 2014, among Central European Media Enterprises ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 288.45 Td (Ltd. \(as Pledgor\), Deutsche Bank ) Tj ET Q q 0 0 0 rg BT 215.00 288.45 Td (T) Tj ET Q q 0 0 0 rg BT 219.60 288.45 Td (rust Company ) Tj ET Q q 0 0 0 rg BT 266.27 288.45 Td (Americas \(as Pledgee\) and Central European Media Enterprises N.V) Tj ET Q q 0 0 0 rg BT 484.94 288.45 Td (. \(as the Company\), ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 280.45 Td (with respect to the Indenture \(incorporated by reference to Exhibit 10.4 to the Company) Tj ET Q q 0 0 0 rg BT 389.96 280.45 Td (s Current Report on Form 8-K filed on May 5, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 272.45 Td (2014\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 245.45 Td (10.23*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 245.45 Td (Deed of Pledge of Shares \(CME Media Enterprises B.V) Tj ET Q q 0 0 0 rg BT 284.32 245.45 Td (.\), dated May 2, 2014, among Central European Media Enterprises N.V) Tj ET Q q 0 0 0 rg BT 511.89 245.45 Td (. \(as Pledgor\), ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 237.45 Td (Deutsche Bank ) Tj ET Q q 0 0 0 rg BT 157.01 237.45 Td (T) Tj ET Q q 0 0 0 rg BT 161.61 237.45 Td (rust Company ) Tj ET Q q 0 0 0 rg BT 208.28 237.45 Td (Americas \(as Pledgee\) and CME Media Enterprises B.V) Tj ET Q q 0 0 0 rg BT 387.64 237.45 Td (. \(as the Company\), with respect to the Indenture ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 229.45 Td (\(incorporated by reference to Exhibit 10.3 to the Company) Tj ET Q q 0 0 0 rg BT 296.44 229.45 Td (s Current Report on Form 8-K filed on May 5, 2014\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 202.45 Td (10.24*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 202.45 Td (Pledge ) Tj ET Q q 0 0 0 rg BT 129.83 202.45 Td (Agreement on Shares in Central European Media Enterprises N.V) Tj ET Q q 0 0 0 rg BT 340.07 202.45 Td (., dated May 2, 2014, among Central European Media Enterprises ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 194.45 Td (Ltd. \(as Pledgor\), ) Tj ET Q q 0 0 0 rg BT 164.34 194.45 Td (T) Tj ET Q q 0 0 0 rg BT 168.95 194.45 Td (ime ) Tj ET Q q 0 0 0 rg BT 182.80 194.45 Td (W) Tj ET Q q 0 0 0 rg BT 189.71 194.45 Td (arner Inc. \(as Pledgee\) and Central European Media Enterprises N.V) Tj ET Q q 0 0 0 rg BT 408.37 194.45 Td (. \(as the Company\), with respect to the ) Tj ET Q q 0 0 0 rg BT 533.97 194.45 Td (T) Tj ET Q q 0 0 0 rg BT 538.58 194.45 Td (ime ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 186.45 Td (W) Tj ET Q q 0 0 0 rg BT 113.41 186.45 Td (arner Revolving Credit Facility \(incorporated by reference to Exhibit 10.10 to the Company) Tj ET Q q 0 0 0 rg BT 409.55 186.45 Td (s Current Report on Form 8-K filed on May 5, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 178.45 Td (2014\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 152.45 Td (10.25*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 152.45 Td (Deed of Pledge of Shares \(CME Media Enterprises B.V) Tj ET Q q 0 0 0 rg BT 284.32 152.45 Td (.\), dated May 2, 2014, among Central European Media Enterprises N.V) Tj ET Q q 0 0 0 rg BT 511.89 152.45 Td (. \(as Pledgor\), ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 144.45 Td (T) Tj ET Q q 0 0 0 rg BT 111.11 144.45 Td (ime ) Tj ET Q q 0 0 0 rg BT 124.96 144.45 Td (W) Tj ET Q q 0 0 0 rg BT 131.87 144.45 Td (arner Inc. \(as Pledgee\) and CME Media Enterprises B.V) Tj ET Q q 0 0 0 rg BT 311.22 144.45 Td (. \(as the Company\), with respect to the ) Tj ET Q q 0 0 0 rg BT 436.82 144.45 Td (T) Tj ET Q q 0 0 0 rg BT 441.43 144.45 Td (ime ) Tj ET Q q 0 0 0 rg BT 455.28 144.45 Td (W) Tj ET Q q 0 0 0 rg BT 462.19 144.45 Td (arner Revolving Credit ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 136.45 Td (Facility \(incorporated by reference to Exhibit 10.9 to the Company) Tj ET Q q 0 0 0 rg BT 322.88 136.45 Td (s Current Report on Form 8-K filed on May 5, 2014\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 110.45 Td (10.26*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 110.45 Td (Pledge ) Tj ET Q q 0 0 0 rg BT 129.83 110.45 Td (Agreement on Shares in Central European Media Enterprises N.V) Tj ET Q q 0 0 0 rg BT 340.07 110.45 Td (., dated May 2, 2014, among Central European Media Enterprises ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 102.45 Td (Ltd. \(as Pledgor\), ) Tj ET Q q 0 0 0 rg BT 164.34 102.45 Td (T) Tj ET Q q 0 0 0 rg BT 168.95 102.45 Td (ime ) Tj ET Q q 0 0 0 rg BT 182.80 102.45 Td (W) Tj ET Q q 0 0 0 rg BT 189.71 102.45 Td (arner Inc. \(as Pledgee\) and Central European Media Enterprises N.V) Tj ET Q q 0 0 0 rg BT 408.37 102.45 Td (. \(as the Company\), with respect to the ) Tj ET Q q 0 0 0 rg BT 533.97 102.45 Td (T) Tj ET Q q 0 0 0 rg BT 538.58 102.45 Td (ime ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 94.45 Td (W) Tj ET Q q 0 0 0 rg BT 113.41 94.45 Td (arner ) Tj ET Q q 0 0 0 rg BT 131.70 94.45 Td (T) Tj ET Q q 0 0 0 rg BT 136.02 94.45 Td (erm Loan Credit ) Tj ET Q q 0 0 0 rg BT 190.45 94.45 Td (Agreement \(incorporated by reference to Exhibit 10.12 to the Company) Tj ET Q q 0 0 0 rg BT 421.93 94.45 Td (s Current Report on Form 8-K filed on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 86.45 Td (May 5, 2014\).) 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Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 614.45 Td (10.29*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 614.45 Td (Commitment Letter dated as of November 14, 2014 between Central European Media Enterprises Ltd. and ) Tj ET Q q 0 0 0 rg BT 450.03 614.45 Td (T) Tj ET Q q 0 0 0 rg BT 454.64 614.45 Td (ime ) Tj ET Q q 0 0 0 rg BT 468.49 614.45 Td (W) Tj ET Q q 0 0 0 rg BT 475.40 614.45 Td (arner Inc. \(incorporated ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 606.45 Td (by reference to Exhibit 10.2 to the Company's Current Report in Form 8-K filed on November 14, 2014\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 578.45 Td (10.30*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 578.45 Td (Reimbursement ) Tj ET Q q 0 0 0 rg BT 158.71 578.45 Td (Agreement dated as of November 14, 2014 between Central European Media Enterprises Ltd., as borrower) Tj ET Q q 0 0 0 rg BT 500.72 578.45 Td (, and ) Tj ET Q q 0 0 0 rg BT 518.13 578.45 Td (T) Tj ET Q q 0 0 0 rg BT 522.73 578.45 Td (ime ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 570.45 Td (W) Tj ET Q q 0 0 0 rg BT 113.41 570.45 Td (arner Inc., as guarantor \(incorporated by reference to Exhibit 10.3 to the Company's Current Report in Form 8-K filed on November 14, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 562.45 Td (2014\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 535.45 Td (10.31*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 535.45 Td (Pledge ) Tj ET Q q 0 0 0 rg BT 129.83 535.45 Td (Agreement on Shares in Central European Media Enterprises N.V) Tj ET Q q 0 0 0 rg BT 340.07 535.45 Td (. dated November 14, 2014 among Central European Media ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 527.45 Td (Enterprises Ltd., as pledgor) Tj ET Q q 0 0 0 rg BT 194.38 527.45 Td (, ) Tj ET Q q 0 0 0 rg BT 198.23 527.45 Td (T) Tj ET Q q 0 0 0 rg BT 202.84 527.45 Td (ime ) Tj ET Q q 0 0 0 rg BT 216.69 527.45 Td (W) Tj ET Q q 0 0 0 rg BT 223.60 527.45 Td (arner Inc., as pledgee, and Central European Media Enterprises N.V) Tj ET Q q 0 0 0 rg BT 440.48 527.45 Td (. \(incorporated by reference to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 519.45 Td (Exhibit 10.5 to the Company's Current Report in Form 8-K filed on November 14, 2014\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 492.45 Td (10.32*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 492.45 Td (Deed of Pledge of Shares \(CME Media Enterprises B.V) Tj ET Q q 0 0 0 rg BT 284.32 492.45 Td (.\) dated November 14, 2014 among Central European Media Enterprises N.V) Tj ET Q q 0 0 0 rg BT 530.99 492.45 Td (., as ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 484.45 Td (pledgor) Tj ET Q q 0 0 0 rg BT 130.62 484.45 Td (, ) Tj ET Q q 0 0 0 rg BT 134.47 484.45 Td (T) Tj ET Q q 0 0 0 rg BT 139.08 484.45 Td (ime ) Tj ET Q q 0 0 0 rg BT 152.93 484.45 Td (W) Tj ET Q q 0 0 0 rg BT 159.84 484.45 Td (arner Inc., as pledgee, and CME Media Enterprises B.V) Tj ET Q q 0 0 0 rg BT 337.42 484.45 Td (. \(incorporated by reference to Exhibit 10.6 to the Company's ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 476.45 Td (Current Report in Form 8-K filed on November 14, 2014\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 450.45 Td (10.33*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 450.45 Td (Intercreditor ) Tj ET Q q 0 0 0 rg BT 148.04 450.45 Td (Agreement dated July 21, 2006, as amended and restated, among Central European Media Enterprises Ltd., Central European ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 442.45 Td (Media Enterprises N.V) Tj ET Q q 0 0 0 rg BT 179.45 442.45 Td (., CME Media Enterprises B.V) Tj ET Q q 0 0 0 rg BT 277.29 442.45 Td (., and the other parties thereto \(incorporated by reference to Exhibit 10.8 to the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 434.45 Td (Company's Current Report in Form 8-K filed on November 14, 2014\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 407.45 Td (10.34*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 407.45 Td (Deed of ) Tj ET Q q 0 0 0 rg BT 133.60 407.45 Td (Amendment dated 14 November 2014 to the Intercreditor ) Tj ET Q q 0 0 0 rg BT 319.77 407.45 Td (Agreement dated July 21, 2006, as amended and restated, among Central ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 399.45 Td (European Media Enterprises Ltd., Central European Media Enterprises N.V) Tj ET Q q 0 0 0 rg BT 347.84 399.45 Td (., CME Media Enterprises B.V) Tj ET Q q 0 0 0 rg BT 445.68 399.45 Td (., and the other parties thereto ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 391.45 Td (\(incorporated by reference to Exhibit 10.7 to the Company's Current Report in Form 8-K filed on November 14, 2014\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 365.45 Td (10.35*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 365.45 Td (Amended and Restated ) Tj ET Q q 0 0 0 rg BT 182.55 365.45 Td (T) Tj ET Q q 0 0 0 rg BT 186.88 365.45 Td (erm Loan Facility Credit ) Tj ET Q q 0 0 0 rg BT 267.75 365.45 Td (Agreement dated as of November 14, 2014 among Central European Media Enterprises ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 357.45 Td (Ltd., ) Tj ET Q q 0 0 0 rg BT 123.46 357.45 Td (T) Tj ET Q q 0 0 0 rg BT 128.07 357.45 Td (ime ) Tj ET Q q 0 0 0 rg BT 141.92 357.45 Td (W) Tj ET Q q 0 0 0 rg BT 148.83 357.45 Td (arner Inc., as administrative agent, and the lenders party thereto \(incorporated by reference to Exhibit 10.9 to the Company's ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 349.50 Td (Current Report in Form 8-K filed on November 14, 2014\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 324.45 Td (10.36*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 324.45 Td (Amended and Restated Revolving Loan Facility Credit ) Tj ET Q q 0 0 0 rg BT 284.46 324.45 Td (Agreement dated as of November 14, 2014 among Central European Media ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 316.45 Td (Enterprises Ltd., ) Tj ET Q q 0 0 0 rg BT 161.45 316.45 Td (T) Tj ET Q q 0 0 0 rg BT 166.06 316.45 Td (ime ) Tj ET Q q 0 0 0 rg BT 179.91 316.45 Td (W) Tj ET Q q 0 0 0 rg BT 186.82 316.45 Td (arner Inc., as administrative agent, and the lenders party thereto \(incorporated by reference to Exhibit 10.10 to the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 308.45 Td (Company's Current Report in Form 8-K filed on November 14, 2014\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 281.45 Td (10.37*+) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 281.45 Td (Contract of Employment between CME Media Services Limited and Michael Del Nin, dated November 1) Tj ET Q q 0 0 0 rg BT 445.00 281.45 Td (1, 2013 \(incorporated by reference ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 273.45 Td (to Exhibit 10.1 to the Company's Current Report in Form 8-K filed on November 15, 2013\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 247.45 Td (10.38+) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 247.45 Td (Amendment to Contract of Employment between CME Media Services Limited and Michael Del Nin, dated March 10, 2015.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 216.45 Td (10.39*+) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 216.45 Td (Contract of Employment between CME Media Services Limited and Christoph Mainusch, dated November 1) Tj ET Q q 0 0 0 rg BT 456.35 216.45 Td (1, 2013 \(incorporated by ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 208.45 Td (reference to Exhibit 10.02 to the Company's Current Report in Form 8-K filed on November 15, 2013\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 182.45 Td (10.40+) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 182.45 Td (Amendment to Contract of Employment between CME Media Services Limited and Christoph Mainusch, dated March 10, 2015.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 151.45 Td (10.41*+) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 151.45 Td (Amended and Restated Contract of Employment between CME Media Services Limited and Dave Stur) Tj ET Q q 0 0 0 rg BT 436.71 151.45 Td (geon, dated July 27, 2010 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 143.45 Td (\(incorporated by reference to Exhibit 10.9 to the Company's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2010\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 117.45 Td (10.42*+) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 117.45 Td (Amendment to ) Tj ET Q q 0 0 0 rg BT 155.83 117.45 Td (Amended and Restated Contract of Employment between David Stur) Tj ET Q q 0 0 0 rg BT 376.96 117.45 Td (geon and CME Media Services Limited, dated June 5, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 109.45 Td (2014 \(incorporated by reference to Exhibit 10.02 to the Company's Quarterly Report on Form 10-Q for the quarterly period ended June 30, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 101.45 Td (2014\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 74.45 Td (10.43+) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 74.45 Td (Amendment to Amended and Restated Contract of Employment between David Sturgeon and CME Media Services Limited, as amended,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 66.50 Td (dated March 10, 2015.) 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Company's ) Tj ET Q q 0 0 0 rg BT 209.27 691.45 Td (Annual Report on Form 10-K for the fiscal period ended December 31, 201) Tj ET Q q 0 0 0 rg BT 450.91 691.45 Td (1\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 665.45 Td (10.45+) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 665.45 Td (Amendment to Contract of Employment between CME Media Services Limited and Daniel Penn, dated March 10, 2015.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 636.45 Td (10.46*+) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 636.45 Td (Amended and Restated Contract of Employment between CME Media Services Limited and ) Tj ET Q q 0 0 0 rg BT 404.20 636.45 Td (Adrian Sarbu, dated ) Tj ET Q q 0 0 0 rg BT 469.96 636.45 Td (April 4, 2013 \(incorporated ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 628.45 Td (by reference to Exhibit 10.01 to the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2013\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 601.45 Td (10.47*+) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 601.45 Td (Separation ) Tj ET Q q 0 0 0 rg BT 142.27 601.45 Td (Agreement between CME Media Services Limited and ) Tj ET Q q 0 0 0 rg BT 319.77 601.45 Td (Adrian Sarbu, dated ) Tj ET Q q 0 0 0 rg BT 385.54 601.45 Td (August 21, 2013 \(incorporated by reference to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 593.45 Td (Exhibit 10.1 to the Company's Current Report in Form 8-K filed on ) Tj ET Q q 0 0 0 rg BT 324.14 593.45 Td (August 21, 2013\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 567.45 Td (10.48*+) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 567.45 Td (Contract of Employment between CME Media Services Limited and David Sach, dated February 26, 2010 \(incorporated by reference to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 559.45 Td (Exhibit 10.2 to the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2010\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 531.45 Td (10.49*+) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 531.45 Td (Separation ) Tj ET Q q 0 0 0 rg BT 142.27 531.45 Td (Agreement between CME Media Services Limited and David Sach, dated October 14, 2013 \(incorporated by reference to Exhibit ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 523.50 Td (10.1 to the Company's Current Report in Form 8-K filed on October 17, 2013\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 498.45 Td (10.50*+) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 498.45 Td (Amended and Restated Contract of Employment between CME Media Services Limited and ) Tj ET Q q 0 0 0 rg BT 404.20 498.45 Td (Anthony Chhoy) Tj ET Q q 0 0 0 rg BT 455.02 498.45 Td (, dated December 1, 2010 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 490.50 Td (\(incorporated by reference to Exhibit 10.45 to the Company's ) Tj ET Q q 0 0 0 rg BT 304.33 490.50 Td (Annual Report on Form 10-K for the fiscal period ended December 31, 2010\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 465.45 Td (10.51*+) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 465.45 Td (Separation ) Tj ET Q q 0 0 0 rg BT 142.27 465.45 Td (Agreement between CME Media Services Limited and ) Tj ET Q q 0 0 0 rg BT 319.77 465.45 Td (Anthony Chhoy) Tj ET Q q 0 0 0 rg BT 370.59 465.45 Td (, dated October 17, 2013 \(incorporated by reference to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 457.50 Td (Exhibit 10.2 to the Company's Current Report in Form 8-K filed on October 17, 2013\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 432.45 Td (12.01) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 432.45 Td (Computation of Ratio of Earnings to Fixed Charges.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 406.45 Td (21.01) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 406.45 Td (List of subsidiaries.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 378.45 Td (23.01) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 378.45 Td (Consent of Deloitte LLP.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 350.45 Td (24.01) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 350.45 Td (Power of Attorney, dated as of March 12, 2015.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 337.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 102.50 337.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 337.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 324.45 Td (31.01) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 102.50 324.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 324.45 Td (Certification of co-Principal Executive Officer pursuant to Exchange Act Rules 13a-14\(a\) and 15d-14\(a\), as adopted pursuant to Section 302) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 316.45 Td (of the Sarbanes-Oxley Act of 2002.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 303.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 102.50 303.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 303.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 290.45 Td (31.02) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 102.50 290.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 290.45 Td (Certification of co-Principal Executive Officer pursuant to Exchange Act Rules 13a-14\(a\) and 15d-14\(a\), as adopted pursuant to Section 302) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 282.45 Td (of the Sarbanes-Oxley Act of 2002.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 254.45 Td (31.03) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 254.45 Td (Certification of Principal Financial Officer pursuant to Exchange Act Rules 13a-14\(a\) and 15d-14\(a\), as adopted pursuant to Section 302 of) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 106.50 246.45 Td (the Sarbanes-Oxley Act of 2002.) 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Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 540.50 Td (W) Tj ET Q q 0 0 0 rg BT 56.91 540.50 Td (e ) Tj ET Q q 0 0 0 rg BT 62.46 540.50 Td (refer ) Tj ET Q q 0 0 0 rg BT 79.55 540.50 Td (to ) Tj ET Q q 0 0 0 rg BT 87.78 540.50 Td (the ) Tj ET Q q 0 0 0 rg BT 99.55 540.50 Td (Contract. ) Tj ET Q q 0 0 0 rg BT 131.10 540.50 Td ( ) Tj ET Q q 0 0 0 rg BT 133.10 540.50 Td (Capitalised ) Tj ET Q q 0 0 0 rg BT 171.09 540.50 Td (terms ) Tj ET Q q 0 0 0 rg BT 190.86 540.50 Td (used ) Tj ET Q q 0 0 0 rg BT 207.53 540.50 Td (herein ) Tj ET Q q 0 0 0 rg BT 229.52 540.50 Td (and ) Tj ET Q q 0 0 0 rg BT 243.07 540.50 Td (not ) Tj ET Q q 0 0 0 rg BT 255.29 540.50 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 288.39 540.50 Td (defined ) Tj ET Q q 0 0 0 rg BT 314.38 540.50 Td (shall ) Tj ET Q q 0 0 0 rg BT 331.49 540.50 Td (have ) Tj ET Q q 0 0 0 rg BT 348.59 540.50 Td (the ) Tj ET Q q 0 0 0 rg BT 360.36 540.50 Td (meanings ) Tj ET Q q 0 0 0 rg BT 393.02 540.50 Td (ascribed ) Tj ET Q q 0 0 0 rg BT 421.68 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BT 483.79 449.30 Td (event ) Tj ET Q q 0 0 0 rg BT 503.34 449.30 Td (you ) Tj ET Q q 0 0 0 rg BT 517.56 449.30 Td (give ) Tj ET Q q 0 0 0 rg BT 533.56 449.30 Td (notice ) Tj ET Q q 0 0 0 rg BT 555.78 449.30 Td (of ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 439.70 Td (termination ) Tj ET Q q 0 0 0 rg BT 124.42 439.70 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 154.95 439.70 Td (to ) Tj ET Q q 0 0 0 rg BT 163.26 439.70 Td (this ) Tj ET Q q 0 0 0 rg BT 176.90 439.70 Td (clause ) Tj ET Q q 0 0 0 rg BT 199.42 439.70 Td (9.1, ) Tj ET Q q 0 0 0 rg BT 213.50 439.70 Td (the ) Tj ET Q q 0 0 0 rg BT 225.36 439.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 258.11 439.70 Td (may ) Tj ET Q q 0 0 0 rg BT 273.52 439.70 Td (in ) Tj ET Q q 0 0 0 rg BT 281.83 439.70 Td (its ) Tj ET Q q 0 0 0 rg BT 291.47 439.70 Td (sole ) Tj ET Q q 0 0 0 rg BT 306.44 439.70 Td (discr) Tj ET Q q 0 0 0 rg BT 322.14 439.70 Td (etion ) Tj ET Q q 0 0 0 rg BT 340.22 439.70 Td (elect ) Tj ET Q q 0 0 0 rg BT 357.41 439.70 Td (to ) Tj ET 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0 0 rg BT 548.22 430.10 Td (time ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 420.50 Td (the ) Tj ET Q q 0 0 0 rg BT 96.33 420.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 128.55 420.50 Td (exer) Tj ET Q q 0 0 0 rg BT 142.02 420.50 Td (cises ) Tj ET Q q 0 0 0 rg BT 159.13 420.50 Td (this ) Tj ET Q q 0 0 0 rg BT 172.25 420.50 Td (option. ) Tj ET Q q 0 0 0 rg BT 196.25 420.50 Td ( ) Tj ET Q q 0 0 0 rg BT 197.81 420.50 Td (Y) Tj ET Q q 0 0 0 rg BT 201.52 420.50 Td (ou ) Tj ET Q q 0 0 0 rg BT 211.08 420.50 Td (will ) Tj ET Q q 0 0 0 rg BT 224.64 420.50 Td (not, ) Tj ET Q q 0 0 0 rg BT 238.42 420.50 Td (under ) Tj ET Q q 0 0 0 rg BT 258.64 420.50 Td (any ) Tj ET Q q 0 0 0 rg BT 271.75 420.50 Td (cir) Tj ET Q q 0 0 0 rg BT 280.34 420.50 Td (cumstances, ) Tj ET Q q 0 0 0 rg BT 320.78 420.50 Td (have ) Tj ET Q q 0 0 0 rg BT 337.44 420.50 Td (any ) Tj ET Q q 0 0 0 rg BT 350.54 420.50 Td (right ) Tj ET Q q 0 0 0 rg BT 367.66 420.50 Td (to ) Tj ET Q q 0 0 0 rg BT 375.44 420.50 Td (payment ) Tj ET Q q 0 0 0 rg BT 404.10 420.50 Td (in ) Tj ET Q q 0 0 0 rg BT 411.88 420.50 Td (lieu ) Tj ET Q q 0 0 0 rg BT 425.43 420.50 Td (of ) Tj ET Q q 0 0 0 rg BT 433.21 420.50 Td (notice ) Tj ET Q q 0 0 0 rg BT 454.32 420.50 Td (unless ) Tj ET Q q 0 0 0 rg BT 475.88 420.50 Td (the ) Tj ET Q q 0 0 0 rg BT 487.21 420.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 519.43 420.50 Td (has ) Tj ET Q q 0 0 0 rg BT 532.10 420.50 Td (exer) Tj ET Q q 0 0 0 rg BT 545.57 420.50 Td (cised ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 410.90 Td (its ) Tj ET Q q 0 0 0 rg BT 95.02 410.90 Td (option ) Tj ET Q q 0 0 0 rg BT 117.94 410.90 Td (to ) Tj ET Q q 0 0 0 rg BT 126.62 410.90 Td (pay ) Tj ET Q q 0 0 0 rg BT 140.64 410.90 Td (in ) Tj ET Q q 0 0 0 rg BT 149.33 410.90 Td (lieu ) Tj ET Q q 0 0 0 rg BT 163.79 410.90 Td (of ) Tj ET Q q 0 0 0 rg BT 172.48 410.90 Td (notice. ) Tj ET Q q 0 0 0 rg BT 196.49 410.90 Td ( ) Tj ET Q q 0 0 0 rg BT 198.78 410.90 Td (All ) Tj ET Q q 0 0 0 rg BT 210.58 410.90 Td (payments ) Tj ET Q q 0 0 0 rg BT 243.26 410.90 Td (made ) Tj ET Q q 0 0 0 rg BT 263.05 410.90 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 293.97 410.90 Td (to ) Tj ET Q q 0 0 0 rg BT 302.66 410.90 Td (this ) Tj ET Q q 0 0 0 rg BT 316.68 410.90 Td (clause ) Tj ET Q q 0 0 0 rg BT 339.58 410.90 Td (9.1 ) Tj ET Q q 0 0 0 rg BT 352.05 410.90 Td (shall ) Tj ET Q q 0 0 0 rg BT 370.07 410.90 Td (be ) Tj ET Q q 0 0 0 rg BT 380.09 410.90 Td (subject ) Tj ET Q q 0 0 0 rg BT 405.22 410.90 Td (to ) Tj ET Q q 0 0 0 rg BT 413.90 410.90 Td (deductions ) Tj ET Q q 0 0 0 rg BT 451.03 410.90 Td (for ) Tj ET Q q 0 0 0 rg BT 462.83 410.90 Td (income ) Tj ET Q q 0 0 0 rg BT 488.40 410.90 Td (tax ) Tj ET Q q 0 0 0 rg BT 500.64 410.90 Td (and ) Tj ET Q q 0 0 0 rg BT 515.10 410.90 Td (social ) Tj ET Q q 0 0 0 rg BT 536.68 410.90 Td (security ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 401.30 Td (contributions ) Tj ET Q q 0 0 0 rg BT 129.67 401.30 Td (as ) Tj ET Q q 0 0 0 rg BT 138.78 401.30 Td (appr) Tj ET Q q 0 0 0 rg BT 153.60 401.30 Td (opriate.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 377.30 Td (9.2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 377.30 Td ( ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 122.00 377.30 Td (Y) Tj ET Q q 0 0 0 rg BT 125.71 377.30 Td (ou ) Tj ET Q q 0 0 0 rg BT 136.21 377.30 Td (may ) Tj ET Q q 0 0 0 rg BT 152.03 377.30 Td (terminate ) Tj ET Q q 0 0 0 rg BT 185.18 377.30 Td (this ) Tj ET Q q 0 0 0 rg BT 199.23 377.30 Td (Contract, ) Tj ET Q q 0 0 0 rg BT 232.17 377.30 Td (unless ) Tj ET Q q 0 0 0 rg BT 254.66 377.30 Td (it ) Tj ET Q q 0 0 0 rg BT 261.60 377.30 Td (has ) Tj ET Q q 0 0 0 rg BT 275.20 377.30 Td (been ) Tj ET Q q 0 0 0 rg BT 292.80 377.30 Td (pr) Tj ET Q q 0 0 0 rg BT 299.61 377.30 Td (eviously ) Tj ET Q q 0 0 0 rg BT 328.32 377.30 Td (terminated ) Tj ET Q q 0 0 0 rg BT 365.47 377.30 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 396.41 377.30 Td (to ) Tj ET Q q 0 0 0 rg BT 405.13 377.30 Td (any ) Tj ET Q q 0 0 0 rg BT 419.17 377.30 Td (other ) Tj ET Q q 0 0 0 rg BT 438.55 377.30 Td (pr) Tj ET Q q 0 0 0 rg BT 445.36 377.30 Td (ovision ) Tj ET Q q 0 0 0 rg BT 470.96 377.30 Td (her) Tj ET Q q 0 0 0 rg BT 481.33 377.30 Td (eof, ) Tj ET Q q 0 0 0 rg BT 495.60 377.30 Td (if ) Tj ET Q q 0 0 0 rg BT 502.54 377.30 Td (the ) Tj ET Q q 0 0 0 rg BT 514.80 377.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 547.96 377.30 Td (is ) Tj ET Q q 0 0 0 rg BT 555.79 377.30 Td (in ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 367.70 Td (material ) Tj ET Q q 0 0 0 rg BT 114.12 367.70 Td (br) Tj ET Q q 0 0 0 rg BT 120.93 367.70 Td (each ) Tj ET Q q 0 0 0 rg BT 138.04 367.70 Td (of ) Tj ET Q q 0 0 0 rg BT 146.27 367.70 Td (this ) Tj ET Q q 0 0 0 rg BT 159.84 367.70 Td (Contract. ) Tj ET Q q 0 0 0 rg BT 192.14 367.70 Td (A) Tj ET Q q 0 0 0 rg BT 196.89 367.70 Td ( ) Tj ET Q q 0 0 0 rg BT 198.89 367.70 Td (material ) Tj ET Q q 0 0 0 rg BT 228.01 367.70 Td (br) Tj ET Q q 0 0 0 rg BT 234.82 367.70 Td (each ) Tj ET Q q 0 0 0 rg BT 251.93 367.70 Td (by ) Tj ET Q q 0 0 0 rg BT 261.49 367.70 Td (the ) Tj ET Q q 0 0 0 rg BT 273.27 367.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 305.94 367.70 Td (shall ) Tj ET Q q 0 0 0 rg BT 323.51 367.70 Td (include, ) Tj ET Q q 0 0 0 rg BT 351.06 367.70 Td (but ) Tj ET Q q 0 0 0 rg BT 363.29 367.70 Td (not ) Tj ET Q q 0 0 0 rg BT 375.52 367.70 Td (be ) Tj ET Q q 0 0 0 rg BT 385.08 367.70 Td (limited ) Tj ET Q q 0 0 0 rg BT 409.30 367.70 Td (to, ) Tj ET Q q 0 0 0 rg BT 419.53 367.70 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 429.09 367.70 Td (the ) Tj ET Q q 0 0 0 rg BT 440.87 367.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 473.54 367.70 Td (violating ) Tj ET Q q 0 0 0 rg BT 503.99 367.70 Td (clause ) Tj ET Q q 0 0 0 rg BT 526.43 367.70 Td (2 ) Tj ET Q q 0 0 0 rg BT 532.44 367.70 Td (or ) Tj ET Q q 0 0 0 rg BT 541.56 367.70 Td (clause ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 358.10 Td (3 ) Tj ET Q q 0 0 0 rg BT 90.99 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 99.21 358.10 Td (this ) Tj ET Q q 0 0 0 rg BT 112.76 358.10 Td (Contract ) Tj ET Q q 0 0 0 rg BT 143.20 358.10 Td (with ) Tj ET Q q 0 0 0 rg BT 158.98 358.10 Td (r) Tj ET Q q 0 0 0 rg BT 161.79 358.10 Td (espect ) Tj ET Q q 0 0 0 rg BT 183.78 358.10 Td (to ) Tj ET Q q 0 0 0 rg BT 191.99 358.10 Td (title, ) Tj ET Q q 0 0 0 rg BT 208.43 358.10 Td (authority) Tj ET Q q 0 0 0 rg BT 237.32 358.10 Td (, ) Tj ET Q q 0 0 0 rg BT 241.31 358.10 Td (status, ) Tj ET Q q 0 0 0 rg BT 263.98 358.10 Td (duties ) Tj ET Q q 0 0 0 rg BT 285.08 358.10 Td (and ) Tj ET Q q 0 0 0 rg BT 299.08 358.10 Td (r) Tj ET Q q 0 0 0 rg BT 301.89 358.10 Td (esponsibilities, ) Tj ET Q q 0 0 0 rg BT 351.67 358.10 Td (or ) Tj ET Q q 0 0 0 rg BT 360.77 358.10 Td (place ) Tj ET Q q 0 0 0 rg BT 380.09 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 388.31 358.10 Td (employment ) Tj ET Q q 0 0 0 rg BT 428.96 358.10 Td (and ) Tj ET Q q 0 0 0 rg BT 442.95 358.10 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 454.72 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 466.48 358.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 499.14 358.10 Td (failing ) Tj ET Q q 0 0 0 rg BT 522.03 358.10 Td (to ) Tj ET Q q 0 0 0 rg BT 530.24 358.10 Td (cause ) Tj ET Q q 0 0 0 rg BT 550.45 358.10 Td (any ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 348.50 Td (successor ) Tj ET Q q 0 0 0 rg BT 117.98 348.50 Td (to ) Tj ET Q q 0 0 0 rg BT 126.08 348.50 Td (all ) Tj ET Q q 0 0 0 rg BT 136.40 348.50 Td (or ) Tj ET Q q 0 0 0 rg BT 145.39 348.50 Td (substantially ) Tj ET Q q 0 0 0 rg BT 188.15 348.50 Td (all ) Tj ET Q q 0 0 0 rg BT 198.47 348.50 Td (of ) Tj ET Q q 0 0 0 rg BT 206.57 348.50 Td (the ) Tj ET Q q 0 0 0 rg BT 218.22 348.50 Td (business ) Tj ET Q q 0 0 0 rg BT 247.21 348.50 Td (and ) Tj ET Q q 0 0 0 rg BT 261.08 348.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 282.07 348.50 Td (of ) Tj ET Q q 0 0 0 rg BT 290.17 348.50 Td (the ) Tj ET Q q 0 0 0 rg BT 301.82 348.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 334.36 348.50 Td (or ) Tj ET Q q 0 0 0 rg BT 343.34 348.50 Td (CME ) Tj ET Q q 0 0 0 rg BT 362.11 348.50 Td (Ltd. ) Tj ET Q q 0 0 0 rg BT 376.65 348.50 Td (expr) Tj ET Q q 0 0 0 rg BT 390.57 348.50 Td (essly ) Tj ET Q q 0 0 0 rg BT 408.00 348.50 Td (to ) Tj ET Q q 0 0 0 rg BT 416.09 348.50 Td (assume ) Tj ET Q q 0 0 0 rg BT 441.52 348.50 Td (the ) Tj ET Q q 0 0 0 rg BT 453.17 348.50 Td (obligations ) Tj ET Q q 0 0 0 rg BT 491.05 348.50 Td (of ) Tj ET Q q 0 0 0 rg BT 499.15 348.50 Td (the ) Tj ET Q q 0 0 0 rg BT 510.80 348.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 543.34 348.50 Td (under ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 338.90 Td (this ) Tj ET Q q 0 0 0 rg BT 97.71 338.90 Td (Contract ) Tj ET Q q 0 0 0 rg BT 127.31 338.90 Td (\(including ) Tj ET Q q 0 0 0 rg BT 161.35 338.90 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 190.95 338.90 Td (to ) Tj ET Q q 0 0 0 rg BT 198.33 338.90 Td (this ) Tj ET Q q 0 0 0 rg BT 211.04 338.90 Td (Clause ) Tj ET Q q 0 0 0 rg BT 234.41 338.90 Td (9.2\). ) Tj ET Q q 0 0 0 rg BT 250.23 338.90 Td (Such ) Tj ET Q q 0 0 0 rg BT 266.93 338.90 Td (right ) Tj ET Q q 0 0 0 rg BT 283.65 338.90 Td (shall ) Tj ET Q q 0 0 0 rg BT 300.36 338.90 Td (be ) Tj ET Q q 0 0 0 rg BT 309.06 338.90 Td (exer) Tj ET Q q 0 0 0 rg BT 322.53 338.90 Td (cisable ) Tj ET Q q 0 0 0 rg BT 346.34 338.90 Td (by ) Tj ET Q q 0 0 0 rg BT 355.05 338.90 Td (your ) Tj ET Q q 0 0 0 rg BT 370.87 338.90 Td (delivering ) Tj ET Q q 0 0 0 rg BT 404.45 338.90 Td (written ) Tj ET Q q 0 0 0 rg BT 428.27 338.90 Td (notice ) Tj ET Q q 0 0 0 rg BT 448.97 338.90 Td (to ) Tj ET Q q 0 0 0 rg BT 456.35 338.90 Td (the ) Tj ET Q q 0 0 0 rg BT 467.28 338.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 499.09 338.90 Td (and ) Tj ET Q q 0 0 0 rg BT 512.25 338.90 Td (the ) Tj ET Q q 0 0 0 rg BT 523.17 338.90 Td (T) Tj ET Q q 0 0 0 rg BT 526.89 338.90 Td (ermination ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 329.30 Td (Date ) Tj ET Q q 0 0 0 rg BT 102.52 329.30 Td (shall ) Tj ET Q q 0 0 0 rg BT 120.06 329.30 Td (be ) Tj ET Q q 0 0 0 rg BT 129.58 329.30 Td (effective ) Tj ET Q q 0 0 0 rg BT 158.20 329.30 Td (30 ) Tj ET Q q 0 0 0 rg BT 168.17 329.30 Td (days ) Tj ET Q q 0 0 0 rg BT 184.81 329.30 Td (after ) Tj ET Q q 0 0 0 rg BT 201.89 329.30 Td (giving ) Tj ET Q q 0 0 0 rg BT 223.86 329.30 Td (such ) Tj ET Q q 0 0 0 rg BT 240.50 329.30 Td (notice; ) Tj ET Q q 0 0 0 rg BT 264.69 329.30 Td (pr) Tj ET Q q 0 0 0 rg BT 271.50 329.30 Td (ovided, ) Tj ET Q q 0 0 0 rg BT 296.80 329.30 Td (that ) Tj ET Q q 0 0 0 rg BT 311.22 329.30 Td (such ) Tj ET Q q 0 0 0 rg BT 327.86 329.30 Td (notice ) Tj ET Q q 0 0 0 rg BT 349.38 329.30 Td (is ) Tj ET Q q 0 0 0 rg BT 356.69 329.30 Td (deliver) Tj ET Q q 0 0 0 rg BT 378.60 329.30 Td (ed ) Tj ET Q q 0 0 0 rg BT 388.13 329.30 Td (to ) Tj ET Q q 0 0 0 rg BT 396.32 329.30 Td (the ) Tj ET Q q 0 0 0 rg BT 408.07 329.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 440.71 329.30 Td (within ) Tj ET Q q 0 0 0 rg BT 462.68 329.30 Td (90 ) Tj ET Q q 0 0 0 rg BT 472.66 329.30 Td (days ) Tj ET Q q 0 0 0 rg BT 489.29 329.30 Td (after ) Tj ET Q q 0 0 0 rg BT 506.38 329.30 Td (the ) Tj ET Q q 0 0 0 rg BT 518.13 329.30 Td (occurr) Tj ET Q q 0 0 0 rg BT 539.16 329.30 Td (ence ) Tj ET Q q 0 0 0 rg BT 555.78 329.30 Td (of ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 319.70 Td (such ) Tj ET Q q 0 0 0 rg BT 101.47 319.70 Td (material ) Tj ET Q q 0 0 0 rg BT 130.38 319.70 Td (br) Tj ET Q q 0 0 0 rg BT 137.20 319.70 Td (each; ) Tj ET Q q 0 0 0 rg BT 156.77 319.70 Td (and ) Tj ET Q q 0 0 0 rg BT 170.57 319.70 Td (pr) Tj ET Q q 0 0 0 rg BT 177.39 319.70 Td (ovided, ) Tj ET Q q 0 0 0 rg BT 202.51 319.70 Td (further) Tj ET Q q 0 0 0 rg BT 223.85 319.70 Td (, ) Tj ET Q q 0 0 0 rg BT 227.65 319.70 Td (that ) Tj ET Q q 0 0 0 rg BT 241.90 319.70 Td (this ) Tj ET Q q 0 0 0 rg BT 255.27 319.70 Td (Contract ) Tj ET Q q 0 0 0 rg BT 285.51 319.70 Td (shall ) Tj ET Q q 0 0 0 rg BT 302.88 319.70 Td (not ) Tj ET Q q 0 0 0 rg BT 314.90 319.70 Td (terminate ) Tj ET Q q 0 0 0 rg BT 347.37 319.70 Td (if ) Tj ET Q q 0 0 0 rg BT 353.62 319.70 Td (such ) Tj ET Q q 0 0 0 rg BT 370.08 319.70 Td (notice ) Tj ET Q q 0 0 0 rg BT 391.43 319.70 Td (is ) Tj ET Q q 0 0 0 rg BT 398.57 319.70 Td (the ) Tj ET Q q 0 0 0 rg BT 410.15 319.70 Td (first ) Tj ET Q q 0 0 0 rg BT 424.85 319.70 Td (such ) Tj ET Q q 0 0 0 rg BT 441.32 319.70 Td (notice ) Tj ET Q q 0 0 0 rg BT 462.67 319.70 Td (of ) Tj ET Q q 0 0 0 rg BT 470.69 319.70 Td (termination ) Tj ET Q q 0 0 0 rg BT 509.83 319.70 Td (deliver) Tj ET Q q 0 0 0 rg BT 531.74 319.70 Td (ed ) Tj ET Q q 0 0 0 rg BT 541.10 319.70 Td (by ) Tj ET Q q 0 0 0 rg BT 550.45 319.70 Td (you ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 310.10 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 115.70 310.10 Td (to ) Tj ET Q q 0 0 0 rg BT 124.17 310.10 Td (this ) Tj ET Q q 0 0 0 rg BT 137.98 310.10 Td (clause ) Tj ET Q q 0 0 0 rg BT 160.66 310.10 Td (9.2 ) Tj ET Q q 0 0 0 rg BT 172.91 310.10 Td (and ) Tj ET Q q 0 0 0 rg BT 187.16 310.10 Td (within ) Tj ET Q q 0 0 0 rg BT 209.42 310.10 Td (such ) Tj ET Q q 0 0 0 rg BT 226.33 310.10 Td (30-day ) Tj ET Q q 0 0 0 rg BT 250.79 310.10 Td (period ) Tj ET Q q 0 0 0 rg BT 273.93 310.10 Td (the ) Tj ET Q q 0 0 0 rg BT 285.95 310.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 318.86 310.10 Td (shall ) Tj ET Q q 0 0 0 rg BT 336.67 310.10 Td (have ) Tj ET Q q 0 0 0 rg BT 354.02 310.10 Td (cur) Tj ET Q q 0 0 0 rg BT 364.39 310.10 Td (ed ) Tj ET Q q 0 0 0 rg BT 374.19 310.10 Td (any ) Tj ET Q q 0 0 0 rg BT 387.99 310.10 Td (material ) Tj ET Q q 0 0 0 rg BT 417.35 310.10 Td (br) Tj ET Q q 0 0 0 rg BT 424.16 310.10 Td (each. ) Tj ET Q q 0 0 0 rg BT 443.51 310.10 Td () Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 447.96 310.10 Td (T) Tj ET Q q 0 0 0 rg BT 452.12 310.10 Td (ermination ) Tj ET Q q 0 0 0 rg BT 490.82 310.10 Td (Date) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 506.37 310.10 Td ( ) Tj ET Q q 0 0 0 rg BT 513.07 310.10 Td (shall ) Tj ET Q q 0 0 0 rg BT 530.87 310.10 Td (mean ) Tj ET Q q 0 0 0 rg BT 550.45 310.10 Td (any ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 300.50 Td (date ) Tj ET Q q 0 0 0 rg BT 100.77 300.50 Td (on ) Tj ET Q q 0 0 0 rg BT 110.77 300.50 Td (which ) Tj ET Q q 0 0 0 rg BT 131.88 300.50 Td (this ) Tj ET Q q 0 0 0 rg BT 145.44 300.50 Td (Contract ) Tj ET Q q 0 0 0 rg BT 175.89 300.50 Td (is ) Tj ET Q q 0 0 0 rg BT 183.22 300.50 Td (terminated ) Tj ET Q q 0 0 0 rg BT 219.88 300.50 Td (under ) Tj ET Q q 0 0 0 rg BT 240.55 300.50 Td (clause ) Tj ET Q q 0 0 0 rg BT 262.98 300.50 Td (9 ) Tj ET Q q 0 0 0 rg BT 268.98 300.50 Td (of ) Tj ET Q q 0 0 0 rg BT 277.21 300.50 Td (this ) Tj ET Q q 0 0 0 rg BT 290.77 300.50 Td (Contract. ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 276.50 Td (9.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 276.50 Td ( ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 122.00 276.50 Td (The ) Tj ET Q q 0 0 0 rg BT 135.96 276.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 168.57 276.50 Td (may) Tj ET Q q 0 0 0 rg BT 181.46 276.50 Td (, ) Tj ET Q q 0 0 0 rg BT 185.42 276.50 Td (by ) Tj ET Q q 0 0 0 rg BT 194.92 276.50 Td (delivering ) Tj ET Q q 0 0 0 rg BT 229.31 276.50 Td (notice ) Tj ET Q q 0 0 0 rg BT 250.81 276.50 Td (to ) Tj ET Q q 0 0 0 rg BT 258.99 276.50 Td (you ) Tj ET Q q 0 0 0 rg BT 272.50 276.50 Td (in ) Tj ET Q q 0 0 0 rg BT 280.67 276.50 Td (writing, ) Tj ET Q q 0 0 0 rg BT 307.75 276.50 Td (terminate ) Tj ET Q q 0 0 0 rg BT 340.36 276.50 Td (this ) Tj ET Q q 0 0 0 rg BT 353.88 276.50 Td (Contract ) Tj ET Q q 0 0 0 rg BT 384.28 276.50 Td (in ) Tj ET Q q 0 0 0 rg BT 392.45 276.50 Td (its ) Tj ET Q q 0 0 0 rg BT 401.97 276.50 Td (absolute ) Tj ET Q q 0 0 0 rg BT 431.03 276.50 Td (discr) Tj ET Q q 0 0 0 rg BT 446.73 276.50 Td (etion ) Tj ET Q q 0 0 0 rg BT 464.69 276.50 Td (at ) Tj ET Q q 0 0 0 rg BT 472.86 276.50 Td (any ) Tj ET Q q 0 0 0 rg BT 486.37 276.50 Td (time ) Tj ET Q q 0 0 0 rg BT 502.10 276.50 Td (without ) Tj ET Q q 0 0 0 rg BT 528.06 276.50 Td (cause ) Tj ET Q q 0 0 0 rg BT 548.23 276.50 Td (with ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 266.90 Td (immediate ) Tj ET Q q 0 0 0 rg BT 120.32 266.90 Td (effect ) Tj ET Q q 0 0 0 rg BT 139.64 266.90 Td (or ) Tj ET Q q 0 0 0 rg BT 148.76 266.90 Td (on ) Tj ET Q q 0 0 0 rg BT 158.76 266.90 Td (such ) Tj ET Q q 0 0 0 rg BT 175.42 266.90 Td (date ) Tj ET Q q 0 0 0 rg BT 191.20 266.90 Td (as ) Tj ET Q q 0 0 0 rg BT 200.31 266.90 Td (specified ) Tj ET Q q 0 0 0 rg BT 230.74 266.90 Td (in ) Tj ET Q q 0 0 0 rg BT 238.96 266.90 Td (the ) Tj ET Q q 0 0 0 rg BT 250.74 266.90 Td (termination ) Tj ET Q q 0 0 0 rg BT 290.07 266.90 Td (notice.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 242.90 Td (9.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 242.90 Td ( ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 122.00 242.90 Td (Following ) Tj ET Q q 0 0 0 rg BT 157.14 242.90 Td (termination ) Tj ET Q q 0 0 0 rg BT 196.72 242.90 Td (by ) Tj ET Q q 0 0 0 rg BT 206.52 242.90 Td (you ) Tj ET Q q 0 0 0 rg BT 220.32 242.90 Td (for ) Tj ET Q q 0 0 0 rg BT 231.91 242.90 Td (material ) Tj ET Q q 0 0 0 rg BT 261.26 242.90 Td (br) Tj ET Q q 0 0 0 rg BT 268.08 242.90 Td (each ) Tj ET Q q 0 0 0 rg BT 285.43 242.90 Td (by ) Tj ET Q q 0 0 0 rg BT 295.23 242.90 Td (the ) Tj ET Q q 0 0 0 rg BT 307.25 242.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 340.17 242.90 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 370.86 242.90 Td (to ) Tj ET Q q 0 0 0 rg BT 379.34 242.90 Td (clause ) Tj ET Q q 0 0 0 rg BT 402.02 242.90 Td (9.2 ) Tj ET Q q 0 0 0 rg BT 414.27 242.90 Td (or ) Tj ET Q q 0 0 0 rg BT 423.63 242.90 Td (without ) Tj ET Q q 0 0 0 rg BT 449.89 242.90 Td (cause ) Tj ET Q q 0 0 0 rg BT 470.35 242.90 Td (by ) Tj ET Q q 0 0 0 rg BT 480.15 242.90 Td (the ) Tj ET Q q 0 0 0 rg BT 492.17 242.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 525.09 242.90 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 555.78 242.90 Td (to ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 233.30 Td (clause ) Tj ET Q q 0 0 0 rg BT 108.17 233.30 Td (9.3, ) Tj ET Q q 0 0 0 rg BT 122.90 233.30 Td (the ) Tj ET Q q 0 0 0 rg BT 135.40 233.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 168.80 233.30 Td (shall ) Tj ET Q q 0 0 0 rg BT 187.09 233.30 Td (make ) Tj ET Q q 0 0 0 rg BT 206.70 233.30 Td (a ) Tj ET Q q 0 0 0 rg BT 213.43 233.30 Td (severance ) Tj ET Q q 0 0 0 rg BT 248.14 233.30 Td (payment ) Tj ET Q q 0 0 0 rg BT 277.97 233.30 Td (to ) Tj ET Q q 0 0 0 rg BT 286.92 233.30 Td (you ) Tj ET Q q 0 0 0 rg BT 301.20 233.30 Td (comprised ) Tj ET Q q 0 0 0 rg BT 337.26 233.30 Td (of ) Tj ET Q q 0 0 0 rg BT 346.21 233.30 Td (two ) Tj ET Q q 0 0 0 rg BT 360.50 233.30 Td (times ) Tj ET Q q 0 0 0 rg BT 380.12 233.30 Td (your ) Tj ET Q q 0 0 0 rg BT 397.52 233.30 Td (annual ) Tj ET Q q 0 0 0 rg BT 422.47 233.30 Td (basic ) Tj ET Q q 0 0 0 rg BT 442.09 233.30 Td (salary ) Tj ET Q q 0 0 0 rg BT 464.82 233.30 Td (\(at ) Tj ET Q q 0 0 0 rg BT 476.43 233.30 Td (the ) Tj ET Q q 0 0 0 rg BT 488.94 233.30 Td (rate ) Tj ET Q q 0 0 0 rg BT 504.55 233.30 Td (payable ) Tj ET Q q 0 0 0 rg BT 532.61 233.30 Td (when ) Tj ET Q q 0 0 0 rg BT 552.23 233.30 Td (the ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 223.70 Td (termination ) Tj ET Q q 0 0 0 rg BT 124.12 223.70 Td (notice ) Tj ET Q q 0 0 0 rg BT 145.46 223.70 Td (is ) Tj ET Q q 0 0 0 rg BT 152.58 223.70 Td (deliver) Tj ET Q q 0 0 0 rg BT 174.50 223.70 Td (ed\) ) Tj ET Q q 0 0 0 rg BT 186.50 223.70 Td (plus ) Tj ET Q q 0 0 0 rg BT 201.63 223.70 Td (an ) Tj ET Q q 0 0 0 rg BT 211.42 223.70 Td (amount ) Tj ET Q q 0 0 0 rg BT 237.21 223.70 Td (equal ) Tj ET Q q 0 0 0 rg BT 256.77 223.70 Td (to ) Tj ET Q q 0 0 0 rg BT 264.79 223.70 Td (the ) Tj ET Q q 0 0 0 rg BT 276.35 223.70 Td (pr) Tj ET Q q 0 0 0 rg BT 283.17 223.70 Td (o-rated ) Tj ET Q q 0 0 0 rg BT 308.51 223.70 Td (portion ) Tj ET Q q 0 0 0 rg BT 333.86 223.70 Td (of ) Tj ET Q q 0 0 0 rg BT 341.87 223.70 Td (your ) Tj ET Q q 0 0 0 rg BT 358.32 223.70 Td (T) Tj ET Q q 0 0 0 rg BT 362.04 223.70 Td (ar) Tj ET Q q 0 0 0 rg BT 368.85 223.70 Td (get ) Tj ET Q q 0 0 0 rg BT 380.42 223.70 Td (Bonus ) Tj ET Q q 0 0 0 rg BT 402.21 223.70 Td (for ) Tj ET Q q 0 0 0 rg BT 413.33 223.70 Td (the ) Tj ET Q q 0 0 0 rg BT 424.90 223.70 Td (period ) Tj ET Q q 0 0 0 rg BT 447.57 223.70 Td (to ) Tj ET Q q 0 0 0 rg BT 455.59 223.70 Td (the ) Tj ET Q q 0 0 0 rg BT 467.15 223.70 Td (T) Tj ET Q q 0 0 0 rg BT 470.86 223.70 Td (ermination ) Tj ET Q q 0 0 0 rg BT 507.76 223.70 Td (Date ) Tj ET Q q 0 0 0 rg BT 525.10 223.70 Td (for ) Tj ET Q q 0 0 0 rg BT 536.23 223.70 Td (the ) Tj ET Q q 0 0 0 rg BT 547.79 223.70 Td (year ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 214.10 Td (in ) Tj ET Q q 0 0 0 rg BT 93.22 214.10 Td (which ) Tj ET Q q 0 0 0 rg BT 114.33 214.10 Td (termination ) Tj ET Q q 0 0 0 rg BT 153.66 214.10 Td (occurs, ) Tj ET Q q 0 0 0 rg BT 178.98 214.10 Td (which ) Tj ET Q q 0 0 0 rg BT 200.09 214.10 Td (shall ) Tj ET Q q 0 0 0 rg BT 217.64 214.10 Td (be ) Tj ET Q q 0 0 0 rg BT 227.19 214.10 Td (payable ) Tj ET Q q 0 0 0 rg BT 254.51 214.10 Td (in ) Tj ET Q q 0 0 0 rg BT 262.73 214.10 Td (a ) Tj ET Q q 0 0 0 rg BT 268.73 214.10 Td (single ) Tj ET Q q 0 0 0 rg BT 289.83 214.10 Td (lump ) Tj ET Q q 0 0 0 rg BT 307.83 214.10 Td (sum ) Tj ET Q q 0 0 0 rg BT 322.72 214.10 Td (within ) Tj ET Q q 0 0 0 rg BT 344.72 214.10 Td (30 ) Tj ET Q q 0 0 0 rg BT 354.72 214.10 Td (days ) Tj ET Q q 0 0 0 rg BT 371.38 214.10 Td (after ) Tj ET Q q 0 0 0 rg BT 388.49 214.10 Td (the ) Tj ET Q q 0 0 0 rg BT 400.26 214.10 Td (T) Tj ET Q q 0 0 0 rg BT 403.97 214.10 Td (ermination ) Tj ET Q q 0 0 0 rg BT 441.08 214.10 Td (Date. ) Tj ET Q q 0 0 0 rg BT 460.63 214.10 Td ( ) Tj ET Q q 0 0 0 rg BT 462.48 214.10 Td (All ) Tj ET Q q 0 0 0 rg BT 473.81 214.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 506.02 214.10 Td (made ) Tj ET Q q 0 0 0 rg BT 525.34 214.10 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 555.79 214.10 Td (to ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 204.50 Td (this ) Tj ET Q q 0 0 0 rg BT 98.56 204.50 Td (clause ) Tj ET Q q 0 0 0 rg BT 121.00 204.50 Td (9.4 ) Tj ET Q q 0 0 0 rg BT 133.00 204.50 Td (shall ) Tj ET Q q 0 0 0 rg BT 150.55 204.50 Td (be ) Tj ET Q q 0 0 0 rg BT 160.11 204.50 Td (subject ) Tj ET Q q 0 0 0 rg BT 184.77 204.50 Td (to ) Tj ET Q q 0 0 0 rg BT 192.99 204.50 Td (deductions ) Tj ET Q q 0 0 0 rg BT 229.65 204.50 Td (for ) Tj ET Q q 0 0 0 rg BT 240.98 204.50 Td (income ) Tj ET Q q 0 0 0 rg BT 266.09 204.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 277.86 204.50 Td (and ) Tj ET Q q 0 0 0 rg BT 291.86 204.50 Td (social ) Tj ET Q q 0 0 0 rg BT 312.97 204.50 Td (security ) Tj ET Q q 0 0 0 rg BT 340.29 204.50 Td (contributions ) Tj ET Q q 0 0 0 rg BT 384.96 204.50 Td (as ) Tj ET Q q 0 0 0 rg BT 394.07 204.50 Td (appr) Tj ET Q q 0 0 0 rg BT 408.89 204.50 Td (opriate.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 180.50 Td (9.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 180.50 Td ( ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 122.00 180.50 Td (A) Tj ET Q q 0 0 0 rg BT 126.74 180.50 Td ( ) Tj ET Q q 0 0 0 rg BT 128.58 180.50 Td (condition ) Tj ET Q q 0 0 0 rg BT 160.63 180.50 Td (pr) Tj ET Q q 0 0 0 rg BT 167.45 180.50 Td (ecedent ) Tj ET Q q 0 0 0 rg BT 193.71 180.50 Td (to ) Tj ET Q q 0 0 0 rg BT 201.77 180.50 Td (the ) Tj ET Q q 0 0 0 rg BT 213.37 180.50 Td (Company) Tj ET Q q 0 0 0 rg BT 245.67 180.50 Td (s ) Tj ET Q q 0 0 0 rg BT 250.62 180.50 Td (obligation ) Tj ET Q q 0 0 0 rg BT 285.34 180.50 Td (with ) Tj ET Q q 0 0 0 rg BT 300.96 180.50 Td (r) Tj ET Q q 0 0 0 rg BT 303.78 180.50 Td (espect ) Tj ET Q q 0 0 0 rg BT 325.60 180.50 Td (to ) Tj ET Q q 0 0 0 rg BT 333.66 180.50 Td (the ) Tj ET Q q 0 0 0 rg BT 345.27 180.50 Td (payment ) Tj ET Q q 0 0 0 rg BT 374.20 180.50 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 404.49 180.50 Td (to ) Tj ET Q q 0 0 0 rg BT 412.54 180.50 Td (clause ) Tj ET Q q 0 0 0 rg BT 434.82 180.50 Td (9.4 ) Tj ET Q q 0 0 0 rg BT 446.65 180.50 Td (shall ) Tj ET Q q 0 0 0 rg BT 464.05 180.50 Td (be ) Tj ET Q q 0 0 0 rg BT 473.43 180.50 Td (your ) Tj ET Q q 0 0 0 rg BT 489.93 180.50 Td (execution ) Tj ET Q q 0 0 0 rg BT 522.41 180.50 Td (and ) Tj ET Q q 0 0 0 rg BT 536.25 180.50 Td (delivery ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 170.90 Td (of ) Tj ET Q q 0 0 0 rg BT 93.22 170.90 Td (a ) Tj ET Q q 0 0 0 rg BT 99.22 170.90 Td (compr) Tj ET Q q 0 0 0 rg BT 119.37 170.90 Td (omise ) Tj ET Q q 0 0 0 rg BT 140.03 170.90 Td (agr) Tj ET Q q 0 0 0 rg BT 150.85 170.90 Td (eement ) Tj ET Q q 0 0 0 rg BT 175.50 170.90 Td (containing ) Tj ET Q q 0 0 0 rg BT 211.72 170.90 Td (customary ) Tj ET Q q 0 0 0 rg BT 247.05 170.90 Td (terms ) Tj ET Q q 0 0 0 rg BT 266.82 170.90 Td (and ) Tj ET Q q 0 0 0 rg BT 280.82 170.90 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 318.16 170.90 Td (within ) Tj ET Q q 0 0 0 rg BT 340.16 170.90 Td (30 ) Tj ET Q q 0 0 0 rg BT 350.16 170.90 Td (days ) Tj ET Q q 0 0 0 rg BT 366.82 170.90 Td (following ) Tj ET Q q 0 0 0 rg BT 399.05 170.90 Td (the ) Tj ET Q q 0 0 0 rg BT 410.82 170.90 Td (T) Tj ET Q q 0 0 0 rg BT 414.54 170.90 Td (ermination ) Tj ET Q q 0 0 0 rg BT 451.65 170.90 Td (Date.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 146.90 Td (9.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 146.90 Td ( ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 122.00 146.90 Td (The ) Tj ET Q q 0 0 0 rg BT 136.29 146.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 169.25 146.90 Td (may ) Tj ET Q q 0 0 0 rg BT 184.87 146.90 Td (terminate ) Tj ET Q q 0 0 0 rg BT 217.82 146.90 Td (this ) Tj ET Q q 0 0 0 rg BT 231.67 146.90 Td (Contract ) Tj ET Q q 0 0 0 rg BT 262.41 146.90 Td (due ) Tj ET Q q 0 0 0 rg BT 276.25 146.90 Td (to ) Tj ET Q q 0 0 0 rg BT 284.77 146.90 Td (T) Tj ET Q q 0 0 0 rg BT 288.48 146.90 Td (ermination ) Tj ET Q q 0 0 0 rg BT 325.88 146.90 Td (for ) Tj ET Q q 0 0 0 rg BT 337.51 146.90 Td (Cause ) Tj ET Q q 0 0 0 rg BT 359.80 146.90 Td (without ) Tj ET Q q 0 0 0 rg BT 386.10 146.90 Td (notice, ) Tj ET Q q 0 0 0 rg BT 409.94 146.90 Td (payment ) Tj ET Q q 0 0 0 rg BT 439.33 146.90 Td (in ) Tj ET Q q 0 0 0 rg BT 447.84 146.90 Td (lieu ) Tj ET Q q 0 0 0 rg BT 462.13 146.90 Td (of ) Tj ET Q q 0 0 0 rg BT 470.65 146.90 Td (notice ) Tj ET Q q 0 0 0 rg BT 492.49 146.90 Td (or ) Tj ET Q q 0 0 0 rg BT 501.89 146.90 Td (any ) Tj ET Q q 0 0 0 rg BT 515.73 146.90 Td (other ) Tj ET Q q 0 0 0 rg BT 534.91 146.90 Td (payment ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 137.30 Td (whatsoever) Tj ET Q q 0 0 0 rg BT 120.55 137.30 Td (. ) Tj ET Q q 0 0 0 rg BT 124.45 137.30 Td (T) Tj ET Q q 0 0 0 rg BT 132.61 137.30 Td (ermination ) Tj ET Q q 0 0 0 rg BT 169.61 137.30 Td (for ) Tj ET Q q 0 0 0 rg BT 180.84 137.30 Td (Cause ) Tj ET Q q 0 0 0 rg BT 207.19 137.30 Td (means ) Tj ET Q q 0 0 0 rg BT 229.52 137.30 Td ( ) Tj ET Q q 0 0 0 rg BT 231.42 137.30 Td (your ) Tj ET Q q 0 0 0 rg BT 247.98 137.30 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 257.42 137.30 Td (conviction ) Tj ET Q q 0 0 0 rg BT 292.64 137.30 Td (of ) Tj ET Q q 0 0 0 rg BT 300.75 137.30 Td (a ) Tj ET Q q 0 0 0 rg BT 306.65 137.30 Td (felony ) Tj ET Q q 0 0 0 rg BT 328.09 137.30 Td (or ) Tj ET Q q 0 0 0 rg BT 337.10 137.30 Td (entering ) Tj ET Q q 0 0 0 rg BT 365.65 137.30 Td (a ) Tj ET Q q 0 0 0 rg BT 371.55 137.30 Td (plea ) Tj ET Q q 0 0 0 rg BT 387.21 137.30 Td (of ) Tj ET Q q 0 0 0 rg BT 395.33 137.30 Td (nolo ) Tj ET Q q 0 0 0 rg BT 411.45 137.30 Td (contender) Tj ET Q q 0 0 0 rg BT 443.14 137.30 Td (e ) Tj ET Q q 0 0 0 rg BT 448.59 137.30 Td (with ) Tj ET Q q 0 0 0 rg BT 464.26 137.30 Td (r) Tj ET Q q 0 0 0 rg BT 467.08 137.30 Td (espect ) Tj ET Q q 0 0 0 rg BT 488.96 137.30 Td (to ) Tj ET Q q 0 0 0 rg BT 497.08 137.30 Td (a ) Tj ET Q q 0 0 0 rg BT 502.97 137.30 Td (char) Tj ET Q q 0 0 0 rg BT 517.34 137.30 Td (ged ) Tj ET Q q 0 0 0 rg BT 530.79 137.30 Td (felony ) Tj ET Q q 0 0 0 rg BT 552.23 137.30 Td (\(or ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 127.70 Td (the ) Tj ET Q q 0 0 0 rg BT 96.87 127.70 Td (equivalent ) Tj ET Q q 0 0 0 rg BT 132.28 127.70 Td (in ) Tj ET Q q 0 0 0 rg BT 140.59 127.70 Td (any ) Tj ET Q q 0 0 0 rg BT 154.24 127.70 Td (jurisdiction\); ) Tj ET Q q 0 0 0 rg BT 198.55 127.70 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 210.42 127.70 Td (gr) Tj ET Q q 0 0 0 rg BT 217.23 127.70 Td (oss ) Tj ET Q q 0 0 0 rg BT 229.55 127.70 Td (negligence, ) Tj ET Q q 0 0 0 rg BT 268.29 127.70 Td (r) Tj ET Q q 0 0 0 rg BT 271.11 127.70 Td (ecklessness, ) Tj ET Q q 0 0 0 rg BT 311.63 127.70 Td (dishonesty) Tj ET Q q 0 0 0 rg BT 344.96 127.70 Td (, ) Tj ET Q q 0 0 0 rg BT 349.06 127.70 Td (fraud, ) Tj ET Q q 0 0 0 rg BT 370.49 127.70 Td (wilful ) Tj ET Q q 0 0 0 rg BT 390.80 127.70 Td (malfeasance ) Tj ET Q q 0 0 0 rg BT 432.89 127.70 Td (or ) Tj ET Q q 0 0 0 rg BT 442.09 127.70 Td (wilful ) Tj ET Q q 0 0 0 rg BT 462.41 127.70 Td (misconduct ) Tj ET Q q 0 0 0 rg BT 500.94 127.70 Td (in ) Tj ET Q q 0 0 0 rg BT 509.26 127.70 Td (the ) Tj ET Q q 0 0 0 rg BT 521.12 127.70 Td (performance ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 118.10 Td (of ) Tj ET Q q 0 0 0 rg BT 93.09 118.10 Td (your ) Tj ET Q q 0 0 0 rg BT 109.63 118.10 Td (duties ) Tj ET Q q 0 0 0 rg BT 130.60 118.10 Td (under ) Tj ET Q q 0 0 0 rg BT 151.14 118.10 Td (this ) Tj ET Q q 0 0 0 rg BT 164.56 118.10 Td (Contract; ) Tj ET Q q 0 0 0 rg BT 197.54 118.10 Td (\(iii\) ) Tj ET Q q 0 0 0 rg BT 211.41 118.10 Td (wilful ) Tj ET Q q 0 0 0 rg BT 231.50 118.10 Td (misr) Tj ET Q q 0 0 0 rg BT 245.43 118.10 Td (epr) Tj ET Q q 0 0 0 rg BT 255.80 118.10 Td (esentation ) Tj ET Q q 0 0 0 rg BT 290.55 118.10 Td (to ) Tj ET Q q 0 0 0 rg BT 298.64 118.10 Td (the ) Tj ET Q q 0 0 0 rg BT 310.29 118.10 Td (shar) Tj ET Q q 0 0 0 rg BT 324.22 118.10 Td (eholders ) Tj ET Q q 0 0 0 rg BT 353.64 118.10 Td (or ) Tj ET Q q 0 0 0 rg BT 362.62 118.10 Td (dir) Tj ET Q q 0 0 0 rg BT 371.66 118.10 Td (ectors ) Tj ET Q q 0 0 0 rg BT 393.08 118.10 Td (of ) Tj ET Q q 0 0 0 rg BT 401.17 118.10 Td (CME ) Tj ET Q q 0 0 0 rg BT 419.93 118.10 Td (Ltd. ) Tj ET Q q 0 0 0 rg BT 434.47 118.10 Td (that ) Tj ET Q q 0 0 0 rg BT 448.78 118.10 Td (is ) Tj ET Q q 0 0 0 rg BT 455.99 118.10 Td (injurious ) Tj ET Q q 0 0 0 rg BT 486.75 118.10 Td (to ) Tj ET Q q 0 0 0 rg BT 494.84 118.10 Td (CME ) Tj ET Q q 0 0 0 rg BT 513.60 118.10 Td (Ltd.; ) Tj ET Q q 0 0 0 rg BT 530.80 118.10 Td (\(iv\) ) Tj ET Q q 0 0 0 rg BT 543.77 118.10 Td (wilful ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 108.50 Td (failur) Tj ET Q q 0 0 0 rg BT 102.48 108.50 Td (e ) Tj ET Q q 0 0 0 rg BT 108.16 108.50 Td (without ) Tj ET Q q 0 0 0 rg BT 134.28 108.50 Td (r) Tj ET Q q 0 0 0 rg BT 137.10 108.50 Td (easonable ) Tj ET Q q 0 0 0 rg BT 171.66 108.50 Td (justification ) Tj ET Q q 0 0 0 rg BT 212.00 108.50 Td (to ) Tj ET Q q 0 0 0 rg BT 220.35 108.50 Td (comply ) Tj ET Q q 0 0 0 rg BT 245.57 108.50 Td (with ) Tj ET Q q 0 0 0 rg BT 261.48 108.50 Td (a ) Tj ET Q q 0 0 0 rg BT 267.60 108.50 Td (r) Tj ET Q q 0 0 0 rg BT 270.41 108.50 Td (easonable ) Tj ET Q q 0 0 0 rg BT 304.97 108.50 Td (written ) Tj ET Q q 0 0 0 rg BT 329.76 108.50 Td (instruction ) Tj ET Q q 0 0 0 rg BT 366.55 108.50 Td (or ) Tj ET Q q 0 0 0 rg BT 375.79 108.50 Td (r) Tj ET Q q 0 0 0 rg BT 378.61 108.50 Td (esolution ) Tj ET Q q 0 0 0 rg BT 410.06 108.50 Td (of ) Tj ET Q q 0 0 0 rg BT 418.40 108.50 Td (the ) Tj ET Q q 0 0 0 rg BT 430.30 108.50 Td (Boar) Tj ET Q q 0 0 0 rg BT 446.00 108.50 Td (d ) Tj ET Q q 0 0 0 rg BT 452.13 108.50 Td (of ) Tj ET Q q 0 0 0 rg BT 460.47 108.50 Td (Dir) Tj ET Q q 0 0 0 rg BT 471.29 108.50 Td (ectors ) Tj ET Q q 0 0 0 rg BT 492.96 108.50 Td (of ) Tj ET Q q 0 0 0 rg BT 501.30 108.50 Td (CME ) Tj ET Q q 0 0 0 rg BT 520.31 108.50 Td (Ltd.; ) Tj ET Q q 0 0 0 rg BT 537.77 108.50 Td (or ) Tj ET Q q 0 0 0 rg BT 547.01 108.50 Td (\(v\) ) Tj ET Q q 0 0 0 rg BT 558.01 108.50 Td (a ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 98.90 Td (material ) Tj ET Q q 0 0 0 rg BT 114.08 98.90 Td (br) Tj ET Q q 0 0 0 rg BT 120.90 98.90 Td (each ) Tj ET Q q 0 0 0 rg BT 137.97 98.90 Td (of ) Tj ET Q q 0 0 0 rg BT 146.17 98.90 Td (your ) Tj ET Q q 0 0 0 rg BT 162.81 98.90 Td (duties ) Tj ET Q q 0 0 0 rg BT 183.89 98.90 Td (or ) Tj ET Q q 0 0 0 rg BT 192.98 98.90 Td (obligations ) Tj ET Q q 0 0 0 rg BT 230.96 98.90 Td (under ) Tj ET Q q 0 0 0 rg BT 251.59 98.90 Td (this ) Tj ET Q q 0 0 0 rg BT 265.13 98.90 Td (Contract. ) Tj ET Q q 0 0 0 rg BT 297.54 98.90 Td (The ) Tj ET Q q 0 0 0 rg BT 311.52 98.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 344.16 98.90 Td (may) Tj ET Q q 0 0 0 rg BT 357.04 98.90 Td (, ) Tj ET Q q 0 0 0 rg BT 361.02 98.90 Td (in ) Tj ET Q q 0 0 0 rg BT 369.21 98.90 Td (its ) Tj ET Q q 0 0 0 rg BT 378.75 98.90 Td (r) Tj ET Q q 0 0 0 rg BT 381.56 98.90 Td (easonable ) Tj ET Q q 0 0 0 rg BT 415.97 98.90 Td (judgment, ) Tj ET Q q 0 0 0 rg BT 449.72 98.90 Td (suspend ) Tj ET Q q 0 0 0 rg BT 477.47 98.90 Td (you ) Tj ET Q q 0 0 0 rg BT 491.00 98.90 Td (on ) Tj ET Q q 0 0 0 rg BT 500.97 98.90 Td (full ) Tj ET Q q 0 0 0 rg BT 513.61 98.90 Td (pay ) Tj ET Q q 0 0 0 rg BT 527.13 98.90 Td (during ) Tj ET Q q 0 0 0 rg BT 550.44 98.90 Td (any ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 89.30 Td (investigation ) Tj ET Q q 0 0 0 rg BT 128.71 89.30 Td (that ) Tj ET Q q 0 0 0 rg BT 143.54 89.30 Td (the ) Tj ET Q q 0 0 0 rg BT 155.69 89.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 188.74 89.30 Td (may ) Tj ET Q q 0 0 0 rg BT 204.45 89.30 Td (undertake ) Tj ET Q q 0 0 0 rg BT 238.82 89.30 Td (into ) Tj ET Q q 0 0 0 rg BT 253.65 89.30 Td (any ) Tj ET Q q 0 0 0 rg BT 267.58 89.30 Td (fact ) Tj ET Q q 0 0 0 rg BT 281.96 89.30 Td (or ) Tj ET Q q 0 0 0 rg BT 291.45 89.30 Td (cir) Tj ET Q q 0 0 0 rg BT 300.04 89.30 Td (cumstance ) Tj ET Q q 0 0 0 rg BT 336.19 89.30 Td (which ) Tj ET Q q 0 0 0 rg BT 357.68 89.30 Td (could ) Tj ET Q q 0 0 0 rg BT 377.83 89.30 Td (lead ) Tj ET Q q 0 0 0 rg BT 393.99 89.30 Td (to ) Tj ET Q q 0 0 0 rg BT 402.59 89.30 Td (your ) Tj ET Q q 0 0 0 rg BT 419.64 89.30 Td (T) Tj ET Q q 0 0 0 rg BT 423.36 89.30 Td (ermination ) Tj ET Q q 0 0 0 rg BT 460.85 89.30 Td (for ) Tj ET Q q 0 0 0 rg BT 472.56 89.30 Td (Cause. ) Tj ET Q q 0 0 0 rg BT 496.95 89.30 Td (Notwithstanding ) Tj ET Q q 0 0 0 rg BT 552.23 89.30 Td (the ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 79.70 Td (for) Tj ET Q q 0 0 0 rg BT 94.04 79.70 Td (egoing, ) Tj ET Q q 0 0 0 rg BT 119.69 79.70 Td (a ) Tj ET Q q 0 0 0 rg BT 125.57 79.70 Td (termination ) Tj ET Q q 0 0 0 rg BT 164.78 79.70 Td (shall ) Tj ET Q q 0 0 0 rg BT 182.22 79.70 Td (not ) Tj ET Q q 0 0 0 rg BT 194.33 79.70 Td (be ) Tj ET Q q 0 0 0 rg BT 203.76 79.70 Td (tr) Tj ET Q q 0 0 0 rg BT 208.79 79.70 Td (eated ) Tj ET Q q 0 0 0 rg BT 228.00 79.70 Td (as ) Tj ET Q q 0 0 0 rg BT 236.99 79.70 Td (T) Tj ET Q q 0 0 0 rg BT 240.71 79.70 Td (ermination ) Tj ET Q q 0 0 0 rg BT 277.70 79.70 Td (for ) Tj ET Q q 0 0 0 rg BT 288.91 79.70 Td (Cause ) Tj ET Q q 0 0 0 rg BT 310.79 79.70 Td (unless ) Tj ET Q q 0 0 0 rg BT 332.67 79.70 Td (the ) Tj ET Q q 0 0 0 rg BT 344.33 79.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 376.87 79.70 Td (has ) Tj ET Q q 0 0 0 rg BT 389.86 79.70 Td (deliver) Tj ET Q q 0 0 0 rg BT 411.78 79.70 Td (ed ) Tj ET Q q 0 0 0 rg BT 421.21 79.70 Td (a ) Tj ET Q q 0 0 0 rg BT 427.09 79.70 Td (written ) Tj ET Q q 0 0 0 rg BT 451.63 79.70 Td (notice ) Tj ET Q q 0 0 0 rg BT 473.06 79.70 Td (to ) Tj ET Q q 0 0 0 rg BT 481.16 79.70 Td (you ) Tj ET Q q 0 0 0 rg BT 494.59 79.70 Td (stating ) Tj ET Q q 0 0 0 rg BT 518.26 79.70 Td (that ) Tj ET Q q 0 0 0 rg BT 532.58 79.70 Td (it ) Tj ET Q q 0 0 0 rg BT 538.91 79.70 Td (intends ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 70.10 Td (to ) Tj ET Q q 0 0 0 rg BT 93.22 70.10 Td (terminate ) Tj ET Q q 0 0 0 rg BT 125.88 70.10 Td (your ) Tj ET Q q 0 0 0 rg BT 142.55 70.10 Td (employment ) Tj ET Q q 0 0 0 rg BT 183.20 70.10 Td (due ) Tj ET Q q 0 0 0 rg BT 196.75 70.10 Td (to ) Tj ET Q q 0 0 0 rg BT 204.97 70.10 Td (T) Tj ET Q q 0 0 0 rg BT 208.69 70.10 Td (ermination ) Tj ET Q q 0 0 0 rg BT 245.80 70.10 Td (for ) Tj ET Q q 0 0 0 rg BT 257.13 70.10 Td (Cause ) Tj ET Q q 0 0 0 rg BT 279.13 70.10 Td (and ) Tj ET Q q 0 0 0 rg BT 293.13 70.10 Td (specifying ) Tj ET Q q 0 0 0 rg BT 327.57 70.10 Td (the ) Tj ET Q q 0 0 0 rg BT 339.34 70.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 357.79 70.10 Td (for ) Tj ET Q q 0 0 0 rg BT 369.13 70.10 Td (such ) Tj ET Q q 0 0 0 rg BT 385.79 70.10 Td (termination.) 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ET Q q 0 0 0 rg BT 471.35 437.30 Td (the ) Tj ET Q q 0 0 0 rg BT 483.79 437.30 Td (event ) Tj ET Q q 0 0 0 rg BT 503.34 437.30 Td (you ) Tj ET Q q 0 0 0 rg BT 517.56 437.30 Td (give ) Tj ET Q q 0 0 0 rg BT 533.56 437.30 Td (notice ) Tj ET Q q 0 0 0 rg BT 555.78 437.30 Td (of ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 427.70 Td (termination ) Tj ET Q q 0 0 0 rg BT 124.42 427.70 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 154.95 427.70 Td (to ) Tj ET Q q 0 0 0 rg BT 163.26 427.70 Td (this ) Tj ET Q q 0 0 0 rg BT 176.90 427.70 Td (clause ) Tj ET Q q 0 0 0 rg BT 199.42 427.70 Td (9.1, ) Tj ET Q q 0 0 0 rg BT 213.50 427.70 Td (the ) Tj ET Q q 0 0 0 rg BT 225.36 427.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 258.11 427.70 Td (may ) Tj ET Q q 0 0 0 rg BT 273.52 427.70 Td (in ) Tj ET Q q 0 0 0 rg BT 281.83 427.70 Td (its ) Tj ET Q q 0 0 0 rg BT 291.47 427.70 Td (sole ) Tj ET Q q 0 0 0 rg BT 306.44 427.70 Td (discr) Tj ET Q q 0 0 0 rg BT 322.14 427.70 Td (etion ) Tj ET Q q 0 0 0 rg BT 340.22 427.70 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418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 216.33 418.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 230.97 418.10 Td (payable ) Tj ET Q q 0 0 0 rg BT 258.04 418.10 Td (when ) Tj ET Q q 0 0 0 rg BT 276.68 418.10 Td (this ) Tj ET Q q 0 0 0 rg BT 289.99 418.10 Td (option ) Tj ET Q q 0 0 0 rg BT 312.19 418.10 Td (is ) Tj ET Q q 0 0 0 rg BT 319.28 418.10 Td (exer) Tj ET Q q 0 0 0 rg BT 332.75 418.10 Td (cised\) ) Tj ET Q q 0 0 0 rg BT 353.60 418.10 Td (in ) Tj ET Q q 0 0 0 rg BT 361.57 418.10 Td (r) Tj ET Q q 0 0 0 rg BT 364.39 418.10 Td (espect ) Tj ET Q q 0 0 0 rg BT 386.13 418.10 Td (of ) Tj ET Q q 0 0 0 rg BT 394.11 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 405.63 418.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 430.94 418.10 Td (of ) Tj ET Q q 0 0 0 rg BT 438.92 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 450.44 418.10 Td (notice ) Tj ET Q q 0 0 0 rg BT 471.74 418.10 Td (period ) Tj ET Q q 0 0 0 rg BT 494.38 418.10 Td (r) Tj ET Q q 0 0 0 rg BT 497.20 418.10 Td (emaining ) Tj ET Q q 0 0 0 rg BT 528.72 418.10 Td (at ) Tj ET Q q 0 0 0 rg BT 536.70 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 548.22 418.10 Td (time ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 408.50 Td (the ) Tj ET Q q 0 0 0 rg BT 96.33 408.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 128.55 408.50 Td (exer) Tj ET Q q 0 0 0 rg BT 142.02 408.50 Td (cises ) Tj ET Q q 0 0 0 rg BT 159.13 408.50 Td (this ) Tj ET Q q 0 0 0 rg BT 172.25 408.50 Td (option. ) Tj ET Q q 0 0 0 rg BT 196.25 408.50 Td ( ) Tj ET Q q 0 0 0 rg BT 197.81 408.50 Td (Y) Tj ET Q q 0 0 0 rg BT 201.52 408.50 Td (ou ) Tj ET Q q 0 0 0 rg BT 211.08 408.50 Td (will ) Tj ET Q q 0 0 0 rg BT 224.64 408.50 Td (not, ) Tj ET Q q 0 0 0 rg BT 238.42 408.50 Td (under ) Tj ET Q q 0 0 0 rg BT 258.64 408.50 Td (any ) Tj ET Q q 0 0 0 rg BT 271.75 408.50 Td (cir) Tj ET Q q 0 0 0 rg BT 280.34 408.50 Td (cumstances, ) Tj ET Q q 0 0 0 rg BT 320.78 408.50 Td (have ) Tj ET Q q 0 0 0 rg BT 337.44 408.50 Td (any ) Tj ET Q q 0 0 0 rg BT 350.54 408.50 Td (right ) Tj ET Q q 0 0 0 rg BT 367.66 408.50 Td (to ) Tj ET Q q 0 0 0 rg BT 375.44 408.50 Td (payment ) Tj ET Q q 0 0 0 rg BT 404.10 408.50 Td (in ) Tj ET Q q 0 0 0 rg BT 411.88 408.50 Td (lieu ) Tj ET Q q 0 0 0 rg BT 425.43 408.50 Td (of ) Tj ET Q q 0 0 0 rg BT 433.21 408.50 Td (notice ) Tj ET Q q 0 0 0 rg BT 454.32 408.50 Td (unless ) Tj ET Q q 0 0 0 rg BT 475.88 408.50 Td (the ) Tj ET Q q 0 0 0 rg BT 487.21 408.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 519.43 408.50 Td (has ) Tj ET Q q 0 0 0 rg BT 532.10 408.50 Td (exer) Tj ET Q q 0 0 0 rg BT 545.57 408.50 Td (cised ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 398.90 Td (its ) Tj ET Q q 0 0 0 rg BT 95.02 398.90 Td (option ) Tj ET Q q 0 0 0 rg BT 117.94 398.90 Td (to ) Tj ET Q q 0 0 0 rg BT 126.62 398.90 Td (pay ) Tj ET Q q 0 0 0 rg BT 140.64 398.90 Td (in ) Tj ET Q q 0 0 0 rg BT 149.33 398.90 Td (lieu ) Tj ET Q q 0 0 0 rg BT 163.79 398.90 Td (of ) Tj ET Q q 0 0 0 rg BT 172.48 398.90 Td (notice. ) Tj ET Q q 0 0 0 rg BT 196.49 398.90 Td ( ) Tj ET Q q 0 0 0 rg BT 198.78 398.90 Td (All ) Tj ET Q q 0 0 0 rg BT 210.58 398.90 Td (payments ) Tj ET Q q 0 0 0 rg BT 243.26 398.90 Td (made ) Tj ET Q q 0 0 0 rg BT 263.05 398.90 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 293.97 398.90 Td (to ) Tj ET Q q 0 0 0 rg BT 302.66 398.90 Td (this ) Tj ET Q q 0 0 0 rg BT 316.68 398.90 Td (clause ) Tj ET Q q 0 0 0 rg BT 339.58 398.90 Td (9.1 ) Tj ET Q q 0 0 0 rg BT 352.05 398.90 Td (shall ) Tj ET Q q 0 0 0 rg BT 370.07 398.90 Td (be ) Tj ET Q q 0 0 0 rg BT 380.09 398.90 Td (subject ) Tj ET Q q 0 0 0 rg BT 405.22 398.90 Td (to ) Tj ET Q q 0 0 0 rg BT 413.90 398.90 Td (deductions ) Tj ET Q q 0 0 0 rg BT 451.03 398.90 Td (for ) Tj ET Q q 0 0 0 rg BT 462.83 398.90 Td (income ) Tj ET Q q 0 0 0 rg BT 488.40 398.90 Td (tax ) Tj ET Q q 0 0 0 rg BT 500.64 398.90 Td (and ) Tj ET Q q 0 0 0 rg BT 515.10 398.90 Td (social ) Tj ET Q q 0 0 0 rg BT 536.68 398.90 Td (security ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 389.30 Td (contributions ) Tj ET Q q 0 0 0 rg BT 129.67 389.30 Td (as ) Tj ET Q q 0 0 0 rg BT 138.78 389.30 Td (appr) Tj ET Q q 0 0 0 rg BT 153.60 389.30 Td (opriate.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 365.30 Td (9.2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 365.30 Td ( ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 122.00 365.30 Td (Y) Tj ET Q q 0 0 0 rg BT 125.71 365.30 Td (ou ) Tj ET Q q 0 0 0 rg BT 136.21 365.30 Td (may ) Tj ET Q q 0 0 0 rg BT 152.03 365.30 Td (terminate ) Tj ET Q q 0 0 0 rg BT 185.18 365.30 Td (this ) Tj ET Q q 0 0 0 rg BT 199.23 365.30 Td (Contract, ) Tj ET Q q 0 0 0 rg BT 232.17 365.30 Td (unless ) Tj ET Q q 0 0 0 rg BT 254.66 365.30 Td (it ) Tj ET Q q 0 0 0 rg BT 261.60 365.30 Td (has ) Tj ET Q q 0 0 0 rg BT 275.20 365.30 Td (been ) Tj ET Q q 0 0 0 rg BT 292.80 365.30 Td (pr) Tj ET Q q 0 0 0 rg BT 299.61 365.30 Td (eviously ) Tj ET Q q 0 0 0 rg BT 328.32 365.30 Td (terminated ) Tj ET Q q 0 0 0 rg BT 365.47 365.30 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 396.41 365.30 Td (to ) Tj ET Q q 0 0 0 rg BT 405.13 365.30 Td (any ) Tj ET Q q 0 0 0 rg BT 419.17 365.30 Td (other ) Tj ET Q q 0 0 0 rg BT 438.55 365.30 Td (pr) Tj ET Q q 0 0 0 rg BT 445.36 365.30 Td (ovision ) Tj ET Q q 0 0 0 rg BT 470.96 365.30 Td (her) Tj ET Q q 0 0 0 rg BT 481.33 365.30 Td (eof, ) Tj ET Q q 0 0 0 rg BT 495.60 365.30 Td (if ) Tj ET Q q 0 0 0 rg BT 502.54 365.30 Td (the ) Tj ET Q q 0 0 0 rg BT 514.80 365.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 547.96 365.30 Td (is ) Tj ET Q q 0 0 0 rg BT 555.79 365.30 Td (in ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 355.70 Td (material ) Tj ET Q q 0 0 0 rg BT 114.12 355.70 Td (br) Tj ET Q q 0 0 0 rg BT 120.93 355.70 Td (each ) Tj ET Q q 0 0 0 rg BT 138.04 355.70 Td (of ) Tj ET Q q 0 0 0 rg BT 146.27 355.70 Td (this ) Tj ET Q q 0 0 0 rg BT 159.84 355.70 Td (Contract. ) Tj ET Q q 0 0 0 rg BT 192.14 355.70 Td (A) Tj ET Q q 0 0 0 rg BT 196.89 355.70 Td ( ) Tj ET Q q 0 0 0 rg BT 198.89 355.70 Td (material ) Tj ET Q q 0 0 0 rg BT 228.01 355.70 Td (br) Tj ET Q q 0 0 0 rg BT 234.82 355.70 Td (each ) Tj ET Q q 0 0 0 rg BT 251.93 355.70 Td (by ) Tj ET Q q 0 0 0 rg BT 261.49 355.70 Td (the ) Tj ET Q q 0 0 0 rg BT 273.27 355.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 305.94 355.70 Td (shall ) Tj ET Q q 0 0 0 rg BT 323.51 355.70 Td (include, ) Tj ET Q q 0 0 0 rg BT 351.06 355.70 Td (but ) Tj ET Q q 0 0 0 rg BT 363.29 355.70 Td (not ) Tj ET Q q 0 0 0 rg BT 375.52 355.70 Td (be ) Tj ET Q q 0 0 0 rg BT 385.08 355.70 Td (limited ) Tj ET Q q 0 0 0 rg BT 409.30 355.70 Td (to, ) Tj ET Q q 0 0 0 rg BT 419.53 355.70 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 429.09 355.70 Td (the ) Tj ET Q q 0 0 0 rg BT 440.87 355.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 473.54 355.70 Td (violating ) Tj ET Q q 0 0 0 rg BT 503.99 355.70 Td (clause ) Tj ET Q q 0 0 0 rg BT 526.43 355.70 Td (2 ) Tj ET Q q 0 0 0 rg BT 532.44 355.70 Td (or ) Tj ET Q q 0 0 0 rg BT 541.56 355.70 Td (clause ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 346.10 Td (3 ) Tj ET Q q 0 0 0 rg BT 90.99 346.10 Td (of ) Tj ET Q q 0 0 0 rg BT 99.21 346.10 Td (this ) Tj ET Q q 0 0 0 rg BT 112.76 346.10 Td (Contract ) Tj ET Q q 0 0 0 rg BT 143.20 346.10 Td 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346.10 Td (to ) Tj ET Q q 0 0 0 rg BT 530.24 346.10 Td (cause ) Tj ET Q q 0 0 0 rg BT 550.45 346.10 Td (any ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 336.50 Td (successor ) Tj ET Q q 0 0 0 rg BT 117.98 336.50 Td (to ) Tj ET Q q 0 0 0 rg BT 126.08 336.50 Td (all ) Tj ET Q q 0 0 0 rg BT 136.40 336.50 Td (or ) Tj ET Q q 0 0 0 rg BT 145.39 336.50 Td (substantially ) Tj ET Q q 0 0 0 rg BT 188.15 336.50 Td (all ) Tj ET Q q 0 0 0 rg BT 198.47 336.50 Td (of ) Tj ET Q q 0 0 0 rg BT 206.57 336.50 Td (the ) Tj ET Q q 0 0 0 rg BT 218.22 336.50 Td (business ) Tj ET Q q 0 0 0 rg BT 247.21 336.50 Td (and ) Tj ET Q q 0 0 0 rg BT 261.08 336.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 282.07 336.50 Td (of ) Tj ET Q q 0 0 0 rg BT 290.17 336.50 Td (the ) Tj ET Q q 0 0 0 rg BT 301.82 336.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 334.36 336.50 Td (or ) Tj ET Q q 0 0 0 rg BT 343.34 336.50 Td (CME ) Tj ET Q q 0 0 0 rg BT 362.11 336.50 Td (Ltd. ) Tj ET Q q 0 0 0 rg BT 376.65 336.50 Td (expr) Tj ET Q q 0 0 0 rg BT 390.57 336.50 Td (essly ) Tj ET Q q 0 0 0 rg BT 408.00 336.50 Td (to ) Tj ET Q q 0 0 0 rg BT 416.09 336.50 Td (assume ) Tj ET Q q 0 0 0 rg BT 441.52 336.50 Td (the ) Tj ET Q q 0 0 0 rg BT 453.17 336.50 Td (obligations ) Tj ET Q q 0 0 0 rg BT 491.05 336.50 Td (of ) Tj ET Q q 0 0 0 rg BT 499.15 336.50 Td (the ) Tj ET Q q 0 0 0 rg BT 510.80 336.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 543.34 336.50 Td (under ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 326.90 Td (this ) Tj ET Q q 0 0 0 rg BT 97.71 326.90 Td (Contract ) Tj ET Q q 0 0 0 rg BT 127.31 326.90 Td (\(including ) Tj ET Q q 0 0 0 rg BT 161.35 326.90 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 190.95 326.90 Td (to ) Tj ET Q q 0 0 0 rg BT 198.33 326.90 Td (this ) Tj ET Q q 0 0 0 rg BT 211.04 326.90 Td (Clause ) Tj ET Q q 0 0 0 rg BT 234.41 326.90 Td (9.2\). ) Tj ET Q q 0 0 0 rg BT 250.23 326.90 Td (Such ) Tj ET Q q 0 0 0 rg BT 266.93 326.90 Td (right ) Tj ET Q q 0 0 0 rg BT 283.65 326.90 Td (shall ) Tj ET Q q 0 0 0 rg BT 300.36 326.90 Td 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184.81 317.30 Td (after ) Tj ET Q q 0 0 0 rg BT 201.89 317.30 Td (giving ) Tj ET Q q 0 0 0 rg BT 223.86 317.30 Td (such ) Tj ET Q q 0 0 0 rg BT 240.50 317.30 Td (notice; ) Tj ET Q q 0 0 0 rg BT 264.69 317.30 Td (pr) Tj ET Q q 0 0 0 rg BT 271.50 317.30 Td (ovided, ) Tj ET Q q 0 0 0 rg BT 296.80 317.30 Td (that ) Tj ET Q q 0 0 0 rg BT 311.22 317.30 Td (such ) Tj ET Q q 0 0 0 rg BT 327.86 317.30 Td (notice ) Tj ET Q q 0 0 0 rg BT 349.38 317.30 Td (is ) Tj ET Q q 0 0 0 rg BT 356.69 317.30 Td (deliver) Tj ET Q q 0 0 0 rg BT 378.60 317.30 Td (ed ) Tj ET Q q 0 0 0 rg BT 388.13 317.30 Td (to ) Tj ET Q q 0 0 0 rg BT 396.32 317.30 Td (the ) Tj ET Q q 0 0 0 rg BT 408.07 317.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 440.71 317.30 Td (within ) Tj ET Q q 0 0 0 rg BT 462.68 317.30 Td (90 ) Tj ET Q q 0 0 0 rg BT 472.66 317.30 Td (days ) Tj ET Q q 0 0 0 rg BT 489.29 317.30 Td (after ) Tj ET Q q 0 0 0 rg BT 506.38 317.30 Td (the ) Tj ET Q q 0 0 0 rg BT 518.13 317.30 Td (occurr) Tj ET Q q 0 0 0 rg BT 539.16 317.30 Td (ence ) Tj ET Q q 0 0 0 rg BT 555.78 317.30 Td (of ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 307.70 Td (such ) Tj ET Q q 0 0 0 rg BT 101.47 307.70 Td (material ) Tj ET Q q 0 0 0 rg BT 130.38 307.70 Td (br) Tj ET Q q 0 0 0 rg BT 137.20 307.70 Td (each; ) Tj ET Q q 0 0 0 rg BT 156.77 307.70 Td (and ) Tj ET Q q 0 0 0 rg BT 170.57 307.70 Td (pr) Tj ET Q q 0 0 0 rg BT 177.39 307.70 Td (ovided, ) Tj ET Q q 0 0 0 rg BT 202.51 307.70 Td (further) Tj ET Q q 0 0 0 rg BT 223.85 307.70 Td (, ) Tj ET Q q 0 0 0 rg BT 227.65 307.70 Td (that ) Tj ET Q q 0 0 0 rg BT 241.90 307.70 Td (this ) Tj ET Q q 0 0 0 rg BT 255.27 307.70 Td (Contract ) Tj ET Q q 0 0 0 rg BT 285.51 307.70 Td (shall ) Tj ET Q q 0 0 0 rg BT 302.88 307.70 Td (not ) Tj ET Q q 0 0 0 rg BT 314.90 307.70 Td (terminate ) Tj ET Q q 0 0 0 rg BT 347.37 307.70 Td (if ) Tj ET Q q 0 0 0 rg BT 353.62 307.70 Td (such ) Tj ET Q q 0 0 0 rg BT 370.08 307.70 Td (notice ) Tj ET Q q 0 0 0 rg BT 391.43 307.70 Td (is ) Tj ET Q q 0 0 0 rg 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BT 131.88 288.50 Td (this ) Tj ET Q q 0 0 0 rg BT 145.44 288.50 Td (Contract ) Tj ET Q q 0 0 0 rg BT 175.89 288.50 Td (is ) Tj ET Q q 0 0 0 rg BT 183.22 288.50 Td (terminated ) Tj ET Q q 0 0 0 rg BT 219.88 288.50 Td (under ) Tj ET Q q 0 0 0 rg BT 240.55 288.50 Td (clause ) Tj ET Q q 0 0 0 rg BT 262.98 288.50 Td (9 ) Tj ET Q q 0 0 0 rg BT 268.98 288.50 Td (of ) Tj ET Q q 0 0 0 rg BT 277.21 288.50 Td (this ) Tj ET Q q 0 0 0 rg BT 290.77 288.50 Td (Contract.) 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Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 230.90 Td (9.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 230.90 Td ( ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 122.00 230.90 Td (Following ) Tj ET Q q 0 0 0 rg BT 157.14 230.90 Td (termination ) Tj ET Q q 0 0 0 rg BT 196.72 230.90 Td (by ) Tj ET Q q 0 0 0 rg BT 206.52 230.90 Td (you ) Tj ET Q q 0 0 0 rg BT 220.32 230.90 Td (for ) Tj ET Q q 0 0 0 rg BT 231.91 230.90 Td (material ) Tj ET Q q 0 0 0 rg BT 261.26 230.90 Td (br) Tj ET Q q 0 0 0 rg BT 268.08 230.90 Td (each ) Tj ET Q q 0 0 0 rg BT 285.43 230.90 Td (by ) Tj ET Q q 0 0 0 rg BT 295.23 230.90 Td (the ) Tj ET Q q 0 0 0 rg BT 307.25 230.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 340.17 230.90 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 370.86 230.90 Td (to ) Tj ET Q q 0 0 0 rg BT 379.34 230.90 Td (clause ) Tj ET Q q 0 0 0 rg BT 402.02 230.90 Td (9.2 ) Tj ET Q q 0 0 0 rg BT 414.27 230.90 Td (or ) Tj ET Q q 0 0 0 rg BT 423.63 230.90 Td (without ) Tj ET Q q 0 0 0 rg BT 449.89 230.90 Td (cause ) Tj ET Q q 0 0 0 rg BT 470.35 230.90 Td (by ) Tj ET Q q 0 0 0 rg BT 480.15 230.90 Td (the ) Tj ET Q q 0 0 0 rg BT 492.17 230.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 525.09 230.90 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 555.78 230.90 Td (to ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 221.30 Td (clause ) Tj ET Q q 0 0 0 rg BT 108.17 221.30 Td (9.3, ) Tj ET Q q 0 0 0 rg BT 122.90 221.30 Td (the ) Tj ET Q q 0 0 0 rg BT 135.40 221.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 168.80 221.30 Td (shall ) Tj ET Q q 0 0 0 rg BT 187.09 221.30 Td (make ) Tj ET Q q 0 0 0 rg BT 206.70 221.30 Td (a ) Tj ET Q q 0 0 0 rg BT 213.43 221.30 Td (severance ) Tj ET Q q 0 0 0 rg BT 248.14 221.30 Td (payment ) Tj ET Q q 0 0 0 rg BT 277.97 221.30 Td (to ) Tj ET Q q 0 0 0 rg BT 286.92 221.30 Td (you ) Tj ET Q q 0 0 0 rg BT 301.20 221.30 Td (comprised ) Tj ET Q q 0 0 0 rg BT 337.26 221.30 Td (of ) Tj ET Q q 0 0 0 rg BT 346.21 221.30 Td (two ) Tj ET Q q 0 0 0 rg BT 360.50 221.30 Td (times ) Tj ET Q q 0 0 0 rg BT 380.12 221.30 Td (your ) Tj ET Q q 0 0 0 rg BT 397.52 221.30 Td (annual ) Tj ET Q q 0 0 0 rg BT 422.47 221.30 Td (basic ) Tj ET Q q 0 0 0 rg BT 442.09 221.30 Td (salary ) Tj ET Q q 0 0 0 rg BT 464.82 221.30 Td (\(at ) Tj ET Q q 0 0 0 rg BT 476.43 221.30 Td (the ) Tj ET Q q 0 0 0 rg BT 488.94 221.30 Td (rate ) Tj ET Q q 0 0 0 rg BT 504.55 221.30 Td (payable ) Tj ET Q q 0 0 0 rg BT 532.61 221.30 Td (when ) Tj ET Q q 0 0 0 rg BT 552.23 221.30 Td (the ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 211.70 Td (termination ) Tj ET Q q 0 0 0 rg BT 124.12 211.70 Td (notice ) Tj ET Q q 0 0 0 rg BT 145.46 211.70 Td (is ) Tj ET Q q 0 0 0 rg BT 152.58 211.70 Td (deliver) Tj ET Q q 0 0 0 rg BT 174.50 211.70 Td (ed\) ) Tj ET Q q 0 0 0 rg BT 186.50 211.70 Td (plus ) Tj ET Q q 0 0 0 rg BT 201.63 211.70 Td (an ) Tj ET Q q 0 0 0 rg BT 211.42 211.70 Td (amount ) Tj ET Q q 0 0 0 rg BT 237.21 211.70 Td (equal ) Tj ET Q q 0 0 0 rg BT 256.77 211.70 Td (to ) Tj ET Q q 0 0 0 rg BT 264.79 211.70 Td (the ) Tj ET Q q 0 0 0 rg BT 276.35 211.70 Td (pr) Tj ET Q q 0 0 0 rg BT 283.17 211.70 Td (o-rated ) Tj ET Q q 0 0 0 rg BT 308.51 211.70 Td (portion ) Tj ET Q q 0 0 0 rg BT 333.86 211.70 Td (of ) Tj ET Q q 0 0 0 rg BT 341.87 211.70 Td (your ) Tj ET Q q 0 0 0 rg BT 358.32 211.70 Td (T) Tj ET Q q 0 0 0 rg BT 362.04 211.70 Td (ar) Tj ET Q q 0 0 0 rg BT 368.85 211.70 Td (get ) Tj ET Q q 0 0 0 rg BT 380.42 211.70 Td (Bonus ) Tj ET Q q 0 0 0 rg BT 402.21 211.70 Td (for ) Tj ET Q q 0 0 0 rg BT 413.33 211.70 Td (the ) Tj ET Q q 0 0 0 rg BT 424.90 211.70 Td (period ) Tj ET Q q 0 0 0 rg BT 447.57 211.70 Td (to ) Tj ET Q q 0 0 0 rg BT 455.59 211.70 Td (the ) Tj ET Q q 0 0 0 rg BT 467.15 211.70 Td (T) Tj ET Q q 0 0 0 rg BT 470.86 211.70 Td (ermination ) Tj ET Q q 0 0 0 rg BT 507.76 211.70 Td (Date ) Tj ET Q q 0 0 0 rg BT 525.10 211.70 Td (for ) Tj ET Q q 0 0 0 rg BT 536.23 211.70 Td (the ) Tj ET Q q 0 0 0 rg BT 547.79 211.70 Td (year ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 202.10 Td (in ) Tj ET Q q 0 0 0 rg 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(as ) Tj ET Q q 0 0 0 rg BT 394.07 192.50 Td (appr) Tj ET Q q 0 0 0 rg BT 408.89 192.50 Td (opriate.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 168.50 Td (9.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 168.50 Td ( ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 122.00 168.50 Td (A) Tj ET Q q 0 0 0 rg BT 126.74 168.50 Td ( ) Tj ET Q q 0 0 0 rg BT 128.58 168.50 Td (condition ) Tj ET Q q 0 0 0 rg BT 160.63 168.50 Td (pr) Tj ET Q q 0 0 0 rg BT 167.45 168.50 Td (ecedent ) Tj ET Q q 0 0 0 rg BT 193.71 168.50 Td (to ) Tj ET Q q 0 0 0 rg BT 201.77 168.50 Td (the ) Tj ET Q q 0 0 0 rg BT 213.37 168.50 Td (Company) Tj ET Q q 0 0 0 rg BT 245.67 168.50 Td (s ) Tj ET Q q 0 0 0 rg BT 250.62 168.50 Td (obligation ) Tj ET Q q 0 0 0 rg BT 285.34 168.50 Td (with ) Tj ET Q q 0 0 0 rg BT 300.96 168.50 Td (r) Tj ET Q q 0 0 0 rg BT 303.78 168.50 Td (espect ) Tj ET Q q 0 0 0 rg BT 325.60 168.50 Td (to ) Tj ET Q q 0 0 0 rg BT 333.66 168.50 Td (the ) Tj ET Q q 0 0 0 rg BT 345.27 168.50 Td (payment ) Tj ET Q q 0 0 0 rg BT 374.20 168.50 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 404.49 168.50 Td (to ) Tj ET Q q 0 0 0 rg BT 412.54 168.50 Td (clause ) Tj ET Q q 0 0 0 rg BT 434.82 168.50 Td (9.4 ) Tj ET Q q 0 0 0 rg BT 446.65 168.50 Td (shall ) Tj ET Q q 0 0 0 rg BT 464.05 168.50 Td (be ) Tj ET Q q 0 0 0 rg BT 473.43 168.50 Td (your ) Tj ET Q q 0 0 0 rg BT 489.93 168.50 Td (execution ) Tj ET Q q 0 0 0 rg BT 522.41 168.50 Td (and ) Tj ET Q q 0 0 0 rg BT 536.25 168.50 Td (delivery ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 158.90 Td (of ) Tj ET Q q 0 0 0 rg BT 93.22 158.90 Td (a ) Tj ET Q q 0 0 0 rg BT 99.22 158.90 Td (compr) Tj ET Q q 0 0 0 rg BT 119.37 158.90 Td (omise ) Tj ET Q q 0 0 0 rg BT 140.03 158.90 Td (agr) Tj ET Q q 0 0 0 rg BT 150.85 158.90 Td (eement ) Tj ET Q q 0 0 0 rg BT 175.50 158.90 Td (containing ) Tj ET Q q 0 0 0 rg BT 211.72 158.90 Td (customary ) Tj ET Q q 0 0 0 rg BT 247.05 158.90 Td (terms ) Tj ET Q q 0 0 0 rg BT 266.82 158.90 Td (and ) Tj ET Q q 0 0 0 rg BT 280.82 158.90 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 318.16 158.90 Td (within ) Tj ET Q q 0 0 0 rg BT 340.16 158.90 Td (30 ) Tj ET Q q 0 0 0 rg BT 350.16 158.90 Td (days ) Tj ET Q q 0 0 0 rg BT 366.82 158.90 Td (following ) Tj ET Q q 0 0 0 rg BT 399.05 158.90 Td (the ) Tj ET Q q 0 0 0 rg BT 410.82 158.90 Td (T) Tj ET Q q 0 0 0 rg BT 414.54 158.90 Td (ermination ) Tj ET Q q 0 0 0 rg BT 451.65 158.90 Td (Date.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 134.90 Td (9.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 134.90 Td ( ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 122.00 134.90 Td (The ) Tj ET Q q 0 0 0 rg BT 136.29 134.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 169.25 134.90 Td (may ) Tj ET Q q 0 0 0 rg BT 184.87 134.90 Td (terminate ) Tj ET Q q 0 0 0 rg BT 217.82 134.90 Td (this ) Tj ET Q q 0 0 0 rg BT 231.67 134.90 Td (Contract ) Tj ET Q q 0 0 0 rg BT 262.41 134.90 Td (due ) Tj ET Q q 0 0 0 rg BT 276.25 134.90 Td (to ) Tj ET Q q 0 0 0 rg BT 284.77 134.90 Td (T) Tj ET Q q 0 0 0 rg BT 288.48 134.90 Td (ermination ) Tj ET Q q 0 0 0 rg BT 325.88 134.90 Td (for ) Tj ET Q q 0 0 0 rg BT 337.51 134.90 Td (Cause ) Tj ET Q q 0 0 0 rg BT 359.80 134.90 Td (without ) Tj ET Q q 0 0 0 rg BT 386.10 134.90 Td (notice, ) Tj ET Q q 0 0 0 rg BT 409.94 134.90 Td (payment ) Tj ET Q q 0 0 0 rg BT 439.33 134.90 Td (in ) Tj ET Q q 0 0 0 rg BT 447.84 134.90 Td (lieu ) Tj ET Q q 0 0 0 rg BT 462.13 134.90 Td (of ) Tj ET Q q 0 0 0 rg BT 470.65 134.90 Td (notice ) Tj ET Q q 0 0 0 rg BT 492.49 134.90 Td (or ) Tj ET Q q 0 0 0 rg BT 501.89 134.90 Td (any ) Tj ET Q q 0 0 0 rg BT 515.73 134.90 Td (other ) Tj ET Q q 0 0 0 rg BT 534.91 134.90 Td (payment ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 125.30 Td (whatsoever) Tj ET Q q 0 0 0 rg BT 120.55 125.30 Td (. ) Tj ET Q q 0 0 0 rg BT 124.72 125.30 Td (T) Tj ET Q q 0 0 0 rg BT 132.88 125.30 Td (ermination ) Tj ET Q q 0 0 0 rg BT 170.16 125.30 Td (for ) Tj ET Q q 0 0 0 rg BT 181.66 125.30 Td (Cause ) Tj ET Q q 0 0 0 rg BT 208.28 125.30 Td (means ) Tj ET Q q 0 0 0 rg BT 230.89 125.30 Td ( ) Tj ET Q q 0 0 0 rg BT 233.06 125.30 Td (your ) Tj ET Q q 0 0 0 rg BT 249.89 125.30 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 259.61 125.30 Td (conviction ) Tj ET Q q 0 0 0 rg BT 295.10 125.30 Td (of ) Tj ET Q q 0 0 0 rg BT 303.49 125.30 Td (a ) Tj ET Q q 0 0 0 rg BT 309.66 125.30 Td (felony) Tj ET Q q 0 0 0 rg BT 328.76 125.30 Td (, ) Tj ET Q q 0 0 0 rg BT 332.93 125.30 Td (entering ) Tj ET Q q 0 0 0 rg BT 361.76 125.30 Td (a ) Tj ET Q q 0 0 0 rg BT 367.93 125.30 Td (plea ) Tj ET Q q 0 0 0 rg BT 383.87 125.30 Td (or ) Tj ET Q q 0 0 0 rg BT 393.15 125.30 Td (nolo ) Tj ET Q q 0 0 0 rg BT 409.54 125.30 Td (contender) Tj ET Q q 0 0 0 rg BT 441.23 125.30 Td (e ) Tj ET Q q 0 0 0 rg BT 446.95 125.30 Td (with ) Tj ET Q q 0 0 0 rg BT 462.90 125.30 Td (r) Tj ET Q q 0 0 0 rg BT 465.71 125.30 Td (espect ) Tj ET Q q 0 0 0 rg BT 487.87 125.30 Td (to ) Tj ET Q q 0 0 0 rg BT 496.26 125.30 Td (a ) Tj ET Q q 0 0 0 rg BT 502.43 125.30 Td (char) Tj ET Q q 0 0 0 rg BT 516.80 125.30 Td (ged ) Tj ET Q q 0 0 0 rg BT 530.52 125.30 Td (felony ) Tj ET Q q 0 0 0 rg BT 552.23 125.30 Td (\(or ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 115.70 Td (the ) Tj ET Q q 0 0 0 rg BT 96.87 115.70 Td (equivalent ) Tj ET Q q 0 0 0 rg BT 132.28 115.70 Td (in ) Tj ET Q q 0 0 0 rg BT 140.59 115.70 Td (any ) Tj ET Q q 0 0 0 rg BT 154.24 115.70 Td (jurisdiction\); ) Tj ET Q q 0 0 0 rg BT 198.55 115.70 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 210.42 115.70 Td (gr) Tj ET Q q 0 0 0 rg BT 217.23 115.70 Td (oss ) Tj ET Q q 0 0 0 rg BT 229.55 115.70 Td (negligence, ) Tj ET Q q 0 0 0 rg BT 268.29 115.70 Td (r) Tj ET Q q 0 0 0 rg BT 271.11 115.70 Td (ecklessness, ) Tj ET Q q 0 0 0 rg BT 311.63 115.70 Td (dishonesty) Tj ET Q q 0 0 0 rg BT 344.96 115.70 Td (, ) Tj ET Q q 0 0 0 rg BT 349.06 115.70 Td (fraud, ) Tj ET Q q 0 0 0 rg BT 370.49 115.70 Td (wilful ) Tj ET Q q 0 0 0 rg BT 390.80 115.70 Td (malfeasance ) Tj ET Q q 0 0 0 rg BT 432.89 115.70 Td (or ) Tj ET Q q 0 0 0 rg BT 442.09 115.70 Td (wilful ) Tj ET Q q 0 0 0 rg BT 462.41 115.70 Td (misconduct ) Tj ET Q q 0 0 0 rg BT 500.94 115.70 Td (in ) Tj ET Q q 0 0 0 rg BT 509.26 115.70 Td (the ) Tj ET Q q 0 0 0 rg BT 521.12 115.70 Td (performance ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 106.10 Td (of ) Tj ET Q q 0 0 0 rg BT 93.09 106.10 Td (your ) Tj ET Q q 0 0 0 rg BT 109.63 106.10 Td (duties ) Tj ET Q q 0 0 0 rg BT 130.60 106.10 Td (under ) Tj ET Q q 0 0 0 rg BT 151.14 106.10 Td (this ) Tj ET Q q 0 0 0 rg BT 164.56 106.10 Td (Contract; 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) Tj ET Q q 0 0 0 rg BT 537.77 96.50 Td (or ) Tj ET Q q 0 0 0 rg BT 547.01 96.50 Td (\(v\) ) Tj ET Q q 0 0 0 rg BT 558.01 96.50 Td (a ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 86.90 Td (material ) Tj ET Q q 0 0 0 rg BT 114.00 86.90 Td (br) Tj ET Q q 0 0 0 rg BT 120.82 86.90 Td (each ) Tj ET Q q 0 0 0 rg BT 137.81 86.90 Td ( ) Tj ET Q q 0 0 0 rg BT 139.70 86.90 Td (of ) Tj ET Q q 0 0 0 rg BT 147.82 86.90 Td (your ) Tj ET Q q 0 0 0 rg BT 164.37 86.90 Td (duties ) Tj ET Q q 0 0 0 rg BT 185.37 86.90 Td (or ) Tj ET Q q 0 0 0 rg BT 194.38 86.90 Td (obligations ) Tj ET Q q 0 0 0 rg BT 232.27 86.90 Td (under ) Tj ET Q q 0 0 0 rg BT 252.83 86.90 Td (this ) Tj ET Q q 0 0 0 rg BT 266.28 86.90 Td (Contract. ) Tj ET Q q 0 0 0 rg BT 298.62 86.90 Td (The ) Tj ET Q q 0 0 0 rg BT 312.51 86.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 345.06 86.90 Td (may) Tj ET Q q 0 0 0 rg BT 357.95 86.90 Td (, ) Tj ET Q q 0 0 0 rg BT 361.84 86.90 Td (in ) Tj ET Q q 0 0 0 rg BT 369.96 86.90 Td (its ) Tj ET Q q 0 0 0 rg BT 379.41 86.90 Td (r) Tj ET Q q 0 0 0 rg BT 382.22 86.90 Td (easonable ) Tj ET Q q 0 0 0 rg BT 416.55 86.90 Td (judgment, ) Tj ET Q q 0 0 0 rg BT 450.22 86.90 Td (suspend ) Tj ET Q q 0 0 0 rg BT 477.89 86.90 Td (you ) Tj ET Q q 0 0 0 rg BT 491.33 86.90 Td (on ) Tj ET Q q 0 0 0 rg BT 501.22 86.90 Td (full ) Tj ET Q q 0 0 0 rg BT 513.78 86.90 Td (pay ) Tj ET Q q 0 0 0 rg BT 527.22 86.90 Td (during ) Tj ET Q q 0 0 0 rg BT 550.45 86.90 Td (any ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 77.30 Td (investigation ) Tj ET Q q 0 0 0 rg BT 128.71 77.30 Td (that ) Tj ET Q q 0 0 0 rg BT 143.54 77.30 Td (the ) Tj ET Q q 0 0 0 rg BT 155.69 77.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 188.74 77.30 Td (may ) Tj ET Q q 0 0 0 rg BT 204.45 77.30 Td (undertake ) Tj ET Q q 0 0 0 rg BT 238.82 77.30 Td (into ) Tj ET Q q 0 0 0 rg BT 253.65 77.30 Td (any ) Tj ET Q q 0 0 0 rg BT 267.58 77.30 Td (fact ) Tj ET Q q 0 0 0 rg BT 281.96 77.30 Td (or ) Tj ET Q q 0 0 0 rg BT 291.45 77.30 Td (cir) Tj ET Q q 0 0 0 rg BT 300.04 77.30 Td (cumstance ) Tj ET Q q 0 0 0 rg BT 336.19 77.30 Td (which ) Tj ET Q q 0 0 0 rg BT 357.68 77.30 Td (could ) Tj ET Q q 0 0 0 rg BT 377.83 77.30 Td (lead ) Tj ET Q q 0 0 0 rg BT 393.99 77.30 Td (to ) Tj ET Q q 0 0 0 rg BT 402.59 77.30 Td (your ) Tj ET Q q 0 0 0 rg BT 419.64 77.30 Td (T) Tj ET Q q 0 0 0 rg BT 423.36 77.30 Td (ermination ) Tj ET Q q 0 0 0 rg BT 460.85 77.30 Td (for ) Tj ET Q q 0 0 0 rg BT 472.56 77.30 Td (Cause. ) Tj ET Q q 0 0 0 rg BT 496.95 77.30 Td (Notwithstanding ) Tj ET Q q 0 0 0 rg BT 552.23 77.30 Td (the ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 67.70 Td (for) Tj ET Q q 0 0 0 rg BT 94.04 67.70 Td (egoing, ) Tj ET Q q 0 0 0 rg BT 119.69 67.70 Td (a ) Tj ET Q q 0 0 0 rg BT 125.57 67.70 Td (termination ) Tj ET Q q 0 0 0 rg BT 164.78 67.70 Td (shall ) Tj ET Q q 0 0 0 rg BT 182.22 67.70 Td (not ) Tj ET Q q 0 0 0 rg BT 194.33 67.70 Td (be ) Tj ET Q q 0 0 0 rg BT 203.76 67.70 Td (tr) Tj ET Q q 0 0 0 rg BT 208.79 67.70 Td (eated ) Tj ET Q q 0 0 0 rg BT 228.00 67.70 Td (as ) Tj ET Q q 0 0 0 rg BT 236.99 67.70 Td (T) Tj ET Q q 0 0 0 rg BT 240.71 67.70 Td (ermination ) Tj ET Q q 0 0 0 rg BT 277.70 67.70 Td (for ) Tj ET Q q 0 0 0 rg BT 288.91 67.70 Td (Cause ) Tj ET Q q 0 0 0 rg BT 310.79 67.70 Td (unless ) Tj ET Q q 0 0 0 rg BT 332.67 67.70 Td (the ) Tj ET Q q 0 0 0 rg BT 344.33 67.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 376.87 67.70 Td (has ) Tj ET Q q 0 0 0 rg BT 389.86 67.70 Td (deliver) Tj ET Q q 0 0 0 rg BT 411.78 67.70 Td (ed ) Tj ET Q q 0 0 0 rg BT 421.21 67.70 Td (a ) Tj ET Q q 0 0 0 rg BT 427.09 67.70 Td (written ) Tj ET Q q 0 0 0 rg BT 451.63 67.70 Td (notice ) Tj ET Q q 0 0 0 rg BT 473.06 67.70 Td (to ) Tj ET Q q 0 0 0 rg BT 481.16 67.70 Td (you ) Tj ET Q q 0 0 0 rg BT 494.59 67.70 Td (stating ) Tj ET Q q 0 0 0 rg BT 518.26 67.70 Td (that ) Tj ET Q q 0 0 0 rg BT 532.58 67.70 Td (it ) Tj ET Q q 0 0 0 rg BT 538.91 67.70 Td (intends ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 58.10 Td (to ) Tj ET Q q 0 0 0 rg BT 93.22 58.10 Td (terminate ) Tj ET Q q 0 0 0 rg BT 125.88 58.10 Td (your ) Tj ET Q q 0 0 0 rg BT 142.55 58.10 Td (employment ) Tj ET Q q 0 0 0 rg BT 183.20 58.10 Td (due ) Tj ET Q q 0 0 0 rg BT 196.75 58.10 Td (to ) Tj ET Q q 0 0 0 rg BT 204.97 58.10 Td (T) Tj ET Q q 0 0 0 rg BT 208.69 58.10 Td (ermination ) Tj ET Q q 0 0 0 rg BT 245.80 58.10 Td (for ) Tj ET Q q 0 0 0 rg BT 257.13 58.10 Td (Cause ) Tj ET Q q 0 0 0 rg BT 279.13 58.10 Td (and ) Tj ET Q q 0 0 0 rg BT 293.13 58.10 Td (specifying ) Tj ET Q q 0 0 0 rg BT 327.57 58.10 Td (the ) Tj ET Q q 0 0 0 rg BT 339.34 58.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 357.79 58.10 Td (for ) Tj ET Q q 0 0 0 rg BT 369.13 58.10 Td (such ) Tj ET Q q 0 0 0 rg BT 385.79 58.10 Td (termination.) Tj ET Q endstream endobj 219 0 obj <> endobj 220 0 obj <> stream BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 742.10 Td (9.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 742.10 Td ( ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 122.00 742.10 Td (Following ) Tj ET Q q 0 0 0 rg BT 157.06 742.10 Td (termination ) Tj ET Q q 0 0 0 rg BT 196.56 742.10 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 227.18 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 235.57 742.10 Td (clause ) Tj ET Q q 0 0 0 rg BT 258.18 742.10 Td (9.3, ) Tj ET Q q 0 0 0 rg BT 272.35 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 284.29 742.10 Td (Compensation ) Tj ET Q q 0 0 0 rg BT 332.68 742.10 Td (Committee ) Tj ET Q q 0 0 0 rg BT 369.51 742.10 Td (will ) Tj ET Q q 0 0 0 rg BT 383.68 742.10 Td (consider ) Tj ET Q q 0 0 0 rg BT 413.40 742.10 Td (in ) Tj ET Q q 0 0 0 rg BT 421.79 742.10 Td (good ) Tj ET Q q 0 0 0 rg BT 439.96 742.10 Td (faith ) Tj ET Q q 0 0 0 rg BT 456.80 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 470.97 742.10 Td (in ) Tj ET Q q 0 0 0 rg BT 479.36 742.10 Td (its ) Tj ET Q q 0 0 0 rg BT 489.09 742.10 Td (absolute ) Tj ET Q q 0 0 0 rg BT 518.37 742.10 Td (discr) Tj ET Q q 0 0 0 rg BT 534.07 742.10 Td (etion ) Tj ET Q q 0 0 0 rg BT 552.23 742.10 Td (the ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 732.50 Td (vesting ) Tj ET Q q 0 0 0 rg BT 109.66 732.50 Td (of ) Tj ET Q q 0 0 0 rg BT 117.88 732.50 Td (unvested ) Tj ET Q q 0 0 0 rg BT 147.87 732.50 Td (r) Tj ET Q q 0 0 0 rg BT 150.69 732.50 Td (estricted ) Tj ET Q q 0 0 0 rg BT 180.23 732.50 Td (stock ) Tj ET Q q 0 0 0 rg BT 198.67 732.50 Td (units ) Tj ET Q q 0 0 0 rg BT 216.23 732.50 Td (awar) Tj ET Q q 0 0 0 rg BT 232.38 732.50 Td (ded ) Tj ET Q q 0 0 0 rg BT 245.93 732.50 Td (to ) Tj ET Q q 0 0 0 rg BT 254.16 732.50 Td (you ) Tj ET Q q 0 0 0 rg BT 267.71 732.50 Td (as ) Tj ET Q q 0 0 0 rg BT 276.82 732.50 Td (of ) Tj ET Q q 0 0 0 rg BT 285.04 732.50 Td (the ) Tj ET Q q 0 0 0 rg BT 296.82 732.50 Td (T) Tj ET Q q 0 0 0 rg BT 300.53 732.50 Td (ermination ) Tj ET Q q 0 0 0 rg BT 337.64 732.50 Td (Date.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 708.50 Td (9.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 708.50 Td ( ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 122.00 708.50 Td (Upon ) Tj ET Q q 0 0 0 rg BT 142.12 708.50 Td (the ) Tj ET Q q 0 0 0 rg BT 154.24 708.50 Td (termination ) Tj ET Q q 0 0 0 rg BT 193.92 708.50 Td (by ) Tj ET Q q 0 0 0 rg BT 203.82 708.50 Td (whatever ) Tj ET Q q 0 0 0 rg BT 235.49 708.50 Td (means ) Tj ET Q q 0 0 0 rg BT 258.28 708.50 Td (of ) Tj ET Q q 0 0 0 rg BT 266.85 708.50 Td (this ) Tj ET Q q 0 0 0 rg BT 280.75 708.50 Td (Contract ) Tj ET Q q 0 0 0 rg BT 311.55 708.50 Td (you ) Tj ET Q q 0 0 0 rg BT 325.44 708.50 Td (shall ) Tj ET Q q 0 0 0 rg BT 343.35 708.50 Td (immediately ) Tj ET Q q 0 0 0 rg BT 384.79 708.50 Td (r) Tj ET Q q 0 0 0 rg BT 387.61 708.50 Td (eturn ) Tj ET Q q 0 0 0 rg BT 406.84 708.50 Td (to ) Tj ET Q q 0 0 0 rg BT 415.41 708.50 Td (the ) Tj ET Q q 0 0 0 rg BT 427.53 708.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 460.54 708.50 Td (all ) Tj ET Q q 0 0 0 rg BT 471.33 708.50 Td (documents, ) Tj ET Q q 0 0 0 rg BT 509.90 708.50 Td (computer ) Tj ET Q q 0 0 0 rg BT 542.46 708.50 Td (media ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 698.90 Td (and ) Tj ET Q q 0 0 0 rg BT 99.52 698.90 Td (har) Tj ET Q q 0 0 0 rg BT 110.34 698.90 Td (dwar) Tj ET Q q 0 0 0 rg BT 126.49 698.90 Td (e, ) Tj ET Q q 0 0 0 rg BT 134.57 698.90 Td (cr) Tj ET Q q 0 0 0 rg BT 140.93 698.90 Td (edit ) Tj ET Q q 0 0 0 rg BT 155.45 698.90 Td (car) Tj ET Q q 0 0 0 rg BT 165.82 698.90 Td (ds, ) Tj ET Q q 0 0 0 rg BT 177.46 698.90 Td (mobile ) Tj ET Q q 0 0 0 rg BT 201.75 698.90 Td (phones ) Tj ET Q q 0 0 0 rg BT 226.94 698.90 Td (and ) Tj ET Q q 0 0 0 rg BT 241.46 698.90 Td (communication ) Tj ET Q q 0 0 0 rg BT 293.31 698.90 Td (devices, ) Tj ET Q q 0 0 0 rg BT 321.38 698.90 Td (keys ) Tj ET Q q 0 0 0 rg BT 337.66 698.90 Td (and ) Tj ET Q q 0 0 0 rg BT 352.19 698.90 Td (all ) Tj ET Q q 0 0 0 rg BT 363.16 698.90 Td (other ) Tj ET Q q 0 0 0 rg BT 382.57 698.90 Td (pr) Tj ET Q q 0 0 0 rg BT 389.38 698.90 Td (operty ) Tj ET Q q 0 0 0 rg BT 412.34 698.90 Td (belonging ) Tj ET Q q 0 0 0 rg BT 446.86 698.90 Td (to ) Tj ET Q q 0 0 0 rg BT 455.61 698.90 Td (or ) Tj ET Q q 0 0 0 rg BT 465.25 698.90 Td (r) Tj ET Q q 0 0 0 rg BT 468.06 698.90 Td (elating ) Tj ET Q q 0 0 0 rg BT 492.80 698.90 Td (to ) Tj ET Q q 0 0 0 rg BT 501.55 698.90 Td (the ) Tj ET Q q 0 0 0 rg BT 513.85 698.90 Td (business ) Tj ET Q q 0 0 0 rg BT 543.48 698.90 Td (of ) Tj ET Q q 0 0 0 rg BT 552.23 698.90 Td (the ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 689.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 117.66 689.30 Td (which ) Tj ET Q q 0 0 0 rg BT 138.77 689.30 Td (is ) Tj ET Q q 0 0 0 rg BT 146.11 689.30 Td (in ) Tj ET Q q 0 0 0 rg BT 154.33 689.30 Td (your ) Tj ET Q q 0 0 0 rg BT 171.00 689.30 Td (possession ) Tj ET Q q 0 0 0 rg BT 207.22 689.30 Td (or ) Tj ET Q q 0 0 0 rg BT 216.34 689.30 Td (under ) Tj ET Q q 0 0 0 rg BT 237.00 689.30 Td (your ) Tj ET Q q 0 0 0 rg BT 253.66 689.30 Td (power ) Tj ET Q q 0 0 0 rg BT 275.66 689.30 Td (or ) Tj ET Q q 0 0 0 rg BT 284.78 689.30 Td (contr) Tj ET Q q 0 0 0 rg BT 301.37 689.30 Td (ol ) Tj ET Q q 0 0 0 rg BT 309.59 689.30 Td (and ) Tj ET Q q 0 0 0 rg BT 323.59 689.30 Td (you ) Tj ET Q q 0 0 0 rg BT 337.14 689.30 Td (must ) Tj ET Q q 0 0 0 rg BT 354.25 689.30 Td (not ) Tj ET Q q 0 0 0 rg BT 366.48 689.30 Td (r) Tj ET Q q 0 0 0 rg BT 369.29 689.30 Td (etain ) Tj ET Q q 0 0 0 rg BT 387.29 689.30 Td (copies ) Tj ET Q q 0 0 0 rg BT 409.73 689.30 Td (of ) Tj ET Q q 0 0 0 rg BT 417.95 689.30 Td (any ) Tj ET Q q 0 0 0 rg BT 431.50 689.30 Td (of ) Tj ET Q q 0 0 0 rg BT 439.72 689.30 Td (the ) Tj ET Q q 0 0 0 rg BT 451.50 689.30 Td (above.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.00 665.30 Td (II. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.00 665.30 Td (Clause ) Tj ET Q q 0 0 0 rg BT 108.91 665.30 Td (17.1 ) Tj ET Q q 0 0 0 rg BT 125.05 665.30 Td (of ) Tj ET Q q 0 0 0 rg BT 133.86 665.30 Td (the ) Tj ET Q q 0 0 0 rg BT 145.77 665.30 Td (Contract ) Tj ET Q q 0 0 0 rg BT 175.46 665.30 Td (shall ) Tj ET Q q 0 0 0 rg BT 192.71 665.30 Td (be ) Tj ET Q q 0 0 0 rg BT 202.40 665.30 Td (amended ) Tj ET Q q 0 0 0 rg BT 233.42 665.30 Td (by ) Tj ET Q q 0 0 0 rg BT 243.56 665.30 Td (replacing ) Tj ET Q q 0 0 0 rg BT 275.46 665.30 Td (the ) Tj ET Q q 0 0 0 rg BT 287.37 665.30 Td (words ) Tj ET Q q 0 0 0 rg BT 309.07 665.30 Td (after ) Tj ET Q q 0 0 0 rg BT 329.41 665.30 Td (you ) Tj ET Q q 0 0 0 rg BT 343.55 665.30 Td (deliver ) Tj ET Q q 0 0 0 rg BT 367.91 665.30 Td (notice ) Tj ET Q q 0 0 0 rg BT 389.59 665.30 Td (of ) Tj ET Q q 0 0 0 rg BT 398.40 665.30 Td (termination ) Tj ET Q q 0 0 0 rg BT 437.42 665.30 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 467.11 665.30 Td (to ) Tj ET Q q 0 0 0 rg BT 475.47 665.30 Td (clause ) Tj ET Q q 0 0 0 rg BT 497.60 665.30 Td (9.2 ) Tj ET Q q 0 0 0 rg BT 513.29 665.30 Td (with ) Tj ET Q q 0 0 0 rg BT 529.66 665.30 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 533.21 665.30 Td (after ) Tj ET Q q 0 0 0 rg BT 550.46 665.30 Td (you ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 655.70 Td (deliver ) Tj ET Q q 0 0 0 rg BT 109.21 655.70 Td (notice ) Tj ET Q q 0 0 0 rg BT 130.76 655.70 Td (of ) Tj ET Q q 0 0 0 rg BT 138.98 655.70 Td (termination ) Tj ET Q q 0 0 0 rg BT 178.31 655.70 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 208.76 655.70 Td (to ) Tj ET Q q 0 0 0 rg BT 216.98 655.70 Td (clause ) Tj ET Q q 0 0 0 rg BT 239.42 655.70 Td (9.1 ) Tj ET Q q 0 0 0 rg BT 251.42 655.70 Td (or ) Tj ET Q q 0 0 0 rg BT 260.54 655.70 Td (clause ) Tj ET Q q 0 0 0 rg BT 282.97 655.70 Td (9.2.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 294.97 655.70 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (All ) Tj ET Q q 0 0 0 rg BT 62.22 622.10 Td (other ) Tj ET Q q 0 0 0 rg BT 80.66 622.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 100.43 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 109.10 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 120.87 622.10 Td (Contract ) Tj ET Q q 0 0 0 rg BT 150.42 622.10 Td (shall ) Tj ET Q q 0 0 0 rg BT 167.53 622.10 Td (remain ) Tj ET Q q 0 0 0 rg BT 191.74 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 203.51 622.10 Td (same.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 602.50 Td (Please ) Tj ET Q q 0 0 0 rg BT 72.44 602.50 Td (countersign ) Tj ET Q q 0 0 0 rg BT 111.76 602.50 Td (this ) Tj ET Q q 0 0 0 rg BT 125.32 602.50 Td (letter ) Tj ET Q q 0 0 0 rg BT 143.75 602.50 Td (in ) Tj ET Q q 0 0 0 rg BT 151.98 602.50 Td (agreement ) Tj ET Q q 0 0 0 rg BT 187.29 602.50 Td (and ) Tj ET Q q 0 0 0 rg BT 200.84 602.50 Td (acknowledgment ) Tj ET Q q 0 0 0 rg BT 257.49 602.50 Td (of ) Tj ET Q q 0 0 0 rg BT 266.15 602.50 Td (the ) Tj ET Q q 0 0 0 rg BT 277.93 602.50 Td (above.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 560.90 Td (Y) Tj ET Q q 0 0 0 rg BT 54.98 560.90 Td (ours ) Tj ET Q q 0 0 0 rg BT 70.75 560.90 Td (sincerely) Tj ET Q q 0 0 0 rg BT 99.11 560.90 Td (,) Tj ET Q BT /F1 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 525.83359375 m 109.8515625 525.83359375 l s q 0 0 0 rg BT 50.00 526.90 Td (/s/ ) Tj ET Q q 0 0 0 rg BT 59.56 526.90 Td (David ) Tj ET Q q 0 0 0 rg BT 81.11 526.90 Td (Stur) Tj ET Q q 0 0 0 rg BT 94.30 526.90 Td (geon) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.85 526.90 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 526.90 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 526.90 Td ( ) Tj ET Q q 0 0 0 rg BT 194.00 526.90 Td ( ) Tj ET Q q 0 0 0 rg BT 230.00 526.90 Td ( ) Tj ET Q q 0 0 0 rg BT 266.00 526.90 Td ( ) Tj ET Q q 0 0 0 rg BT 302.00 526.90 Td ( ) Tj ET Q q 0 0 0 rg BT 338.00 526.90 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 517.30 Td (David ) Tj ET Q q 0 0 0 rg BT 71.55 517.30 Td (Stur) Tj ET Q q 0 0 0 rg BT 84.74 517.30 Td (geon) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 507.70 Td (Director) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 498.10 Td (CME ) Tj ET Q q 0 0 0 rg BT 69.34 498.10 Td (Media ) Tj ET Q q 0 0 0 rg BT 91.77 498.10 Td (Services ) Tj ET Q q 0 0 0 rg BT 120.88 498.10 Td (Limited ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 454.50 Td (Countersigned ) Tj ET Q q 0 0 0 rg BT 98.66 454.50 Td (in ) Tj ET Q q 0 0 0 rg BT 106.88 454.50 Td (agreement ) Tj ET Q q 0 0 0 rg BT 142.20 454.50 Td (and ) Tj ET Q q 0 0 0 rg BT 155.75 454.50 Td (acknowledgment:) Tj ET Q BT /F1 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 417.43359375 m 124.66796875 417.43359375 l s q 0 0 0 rg BT 50.00 418.50 Td (/s/ ) Tj ET Q q 0 0 0 rg BT 59.56 418.50 Td (Christoph ) Tj ET Q q 0 0 0 rg BT 93.12 418.50 Td (Mainusch) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.67 418.50 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 418.50 Td ( ) Tj ET Q q 0 0 0 rg BT 194.00 418.50 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 230.00 418.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.00 418.50 Td ( ) Tj ET Q q 0 0 0 rg BT 266.00 418.50 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 408.90 Td (Christoph ) Tj ET Q q 0 0 0 rg BT 83.56 408.90 Td (Mainusch) Tj ET Q endstream endobj 221 0 obj <> endobj 222 0 obj <> stream 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 1 J 1 j 3 M 50 745.5 m 562 745.5 l s BT /F1 8.00 Tf ET BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 516.65 732.648046875 m 561.99375 732.648046875 l s q 0 0 0 rg BT 516.65 733.90 Td (Exhibit 10.43) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 637.90 Td (David ) Tj ET Q q 0 0 0 rg BT 71.55 637.90 Td (Stur) Tj ET Q q 0 0 0 rg BT 84.74 637.90 Td (geon) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 628.30 Td (/) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.22 628.30 Td (r) Tj ET Q q 0 0 0 rg BT 55.04 628.30 Td (edacted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 79.91 628.30 Td (/) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 609.10 Td (March ) Tj ET Q q 0 0 0 rg BT 72.88 609.10 Td (10, ) Tj ET Q q 0 0 0 rg BT 84.88 609.10 Td (2015) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 589.90 Td (Dear ) Tj ET Q q 0 0 0 rg BT 67.54 589.90 Td (Dave, ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 50.00 570.70 Td (Re:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 61.99 570.70 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 86.00 570.70 Td (Amended ) Tj ET Q q 0 0 0 rg BT 120.69 570.70 Td (and ) Tj ET Q q 0 0 0 rg BT 135.39 570.70 Td (Restated ) Tj ET Q q 0 0 0 rg BT 166.97 570.70 Td (Contract ) Tj ET Q q 0 0 0 rg BT 199.43 570.70 Td (of ) Tj ET Q q 0 0 0 rg BT 207.89 570.70 Td (Employment ) Tj ET Q q 0 0 0 rg BT 253.70 570.70 Td (dated ) Tj ET Q q 0 0 0 rg BT 274.61 570.70 Td (July ) Tj ET Q q 0 0 0 rg BT 291.09 570.70 Td (27, ) Tj ET Q q 0 0 0 rg BT 302.89 570.70 Td (2010 ) Tj ET Q q 0 0 0 rg BT 320.69 570.70 Td (between ) Tj ET Q q 0 0 0 rg BT 350.49 570.70 Td (Dave ) Tj ET Q q 0 0 0 rg BT 369.62 570.70 Td (Sturgeon ) Tj ET Q q 0 0 0 rg BT 402.53 570.70 Td (and ) Tj ET Q q 0 0 0 rg BT 417.23 570.70 Td (CME ) Tj ET Q q 0 0 0 rg BT 437.70 570.70 Td (Media ) Tj ET Q q 0 0 0 rg BT 461.28 570.70 Td (Services ) Tj ET Q q 0 0 0 rg BT 491.07 570.70 Td (Limited, ) Tj ET Q q 0 0 0 rg BT 521.98 570.70 Td (as ) Tj ET Q q 0 0 0 rg BT 530.90 570.70 Td (amended ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 86.00 561.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 101.33 561.10 Td () Tj ET Q BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 105.328125 559.848046875 m 135.984375 559.848046875 l s q 0 0 0 rg BT 105.33 561.10 Td (Contract) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 135.98 561.10 Td (\).) 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Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.00 474.70 Td (II. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.00 474.70 Td (Clause ) Tj ET Q q 0 0 0 rg BT 108.77 474.70 Td (9 ) Tj ET Q q 0 0 0 rg BT 114.77 474.70 Td (of ) Tj ET Q q 0 0 0 rg BT 123.44 474.70 Td (the ) Tj ET Q q 0 0 0 rg BT 135.21 474.70 Td (Contract ) Tj ET Q q 0 0 0 rg BT 164.76 474.70 Td (shall ) Tj ET Q q 0 0 0 rg BT 181.87 474.70 Td (be ) Tj ET Q q 0 0 0 rg BT 191.42 474.70 Td (deleted ) Tj ET Q q 0 0 0 rg BT 216.52 474.70 Td (in ) Tj ET Q q 0 0 0 rg BT 224.74 474.70 Td (its ) Tj ET Q q 0 0 0 rg BT 234.30 474.70 Td (entirety ) Tj ET Q q 0 0 0 rg BT 260.73 474.70 Td (and ) Tj ET Q q 0 0 0 rg BT 274.28 474.70 Td (replaced ) Tj ET Q q 0 0 0 rg BT 303.37 474.70 Td (with ) Tj ET Q q 0 0 0 rg BT 319.59 474.70 Td (the ) Tj ET Q q 0 0 0 rg BT 331.37 474.70 Td (following:) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 455.50 Td ( ) Tj ET Q q 0 0 0 rg BT 87.00 455.50 Td () Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 91.45 455.50 Td (9 ) Tj ET Q q 0 0 0 rg BT 97.45 455.50 Td (TERMINA) Tj ET Q q 0 0 0 rg BT 133.91 455.50 Td (TION) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 153.46 455.50 Td ( ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 436.30 Td (9.1 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 97.00 436.30 Td ( ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 122.00 436.30 Td (Y) Tj ET Q q 0 0 0 rg BT 125.71 436.30 Td (ou ) Tj ET Q q 0 0 0 rg BT 135.76 436.30 Td (may ) Tj ET Q q 0 0 0 rg BT 151.13 436.30 Td (terminate) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 181.79 436.30 Td ( ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 184.07 436.30 Td (this ) Tj ET Q q 0 0 0 rg BT 197.67 436.30 Td (Contract ) Tj ET Q q 0 0 0 rg BT 228.16 436.30 Td (on ) Tj ET Q q 0 0 0 rg BT 238.21 436.30 Td (giving ) Tj ET Q q 0 0 0 rg BT 260.25 436.30 Td (the ) Tj ET Q q 0 0 0 rg BT 272.07 436.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 304.78 436.30 Td (twelve ) Tj ET Q q 0 0 0 rg BT 327.26 436.30 Td (months) Tj ET Q q 0 0 0 rg BT 352.15 436.30 Td ( ) Tj ET Q q 0 0 0 rg BT 354.20 436.30 Td (notice ) Tj ET Q q 0 0 0 rg BT 375.79 436.30 Td (in ) Tj ET Q q 0 0 0 rg BT 384.06 436.30 Td (writing, ) Tj ET Q q 0 0 0 rg BT 411.22 436.30 Td (to ) Tj ET Q q 0 0 0 rg BT 419.49 436.30 Td (expir) Tj ET Q q 0 0 0 rg BT 435.63 436.30 Td (e ) Tj ET Q q 0 0 0 rg BT 441.23 436.30 Td (at ) Tj ET Q q 0 0 0 rg BT 449.50 436.30 Td (any ) Tj ET Q q 0 0 0 rg BT 463.09 436.30 Td (time. ) Tj ET Q q 0 0 0 rg BT 480.91 436.30 Td (The ) Tj ET Q q 0 0 0 rg BT 494.96 436.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 527.67 436.30 Td (is ) Tj ET Q q 0 0 0 rg BT 535.05 436.30 Td (r) Tj ET Q q 0 0 0 rg BT 537.87 436.30 Td (equir) Tj ET Q q 0 0 0 rg BT 554.46 436.30 Td (ed ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 426.70 Td (to ) Tj ET Q q 0 0 0 rg BT 93.22 426.70 Td (give ) Tj ET Q q 0 0 0 rg BT 108.55 426.70 Td (you ) Tj ET Q q 0 0 0 rg BT 122.10 426.70 Td (twelve ) Tj ET Q q 0 0 0 rg BT 144.53 426.70 Td (months) Tj ET Q q 0 0 0 rg BT 169.42 426.70 Td ( ) Tj ET Q q 0 0 0 rg BT 171.42 426.70 Td (notice ) Tj ET Q q 0 0 0 rg BT 192.97 426.70 Td (in ) Tj ET Q q 0 0 0 rg BT 201.19 426.70 Td (writing, ) Tj ET Q q 0 0 0 rg BT 228.31 426.70 Td (to ) Tj ET Q q 0 0 0 rg BT 236.53 426.70 Td (expir) Tj ET Q q 0 0 0 rg BT 252.67 426.70 Td (e ) Tj ET Q q 0 0 0 rg BT 258.22 426.70 Td (at ) Tj ET Q q 0 0 0 rg BT 266.45 426.70 Td (any ) Tj ET Q q 0 0 0 rg BT 280.00 426.70 Td (time.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 407.50 Td (9.2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 95.00 407.50 Td ( ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 122.00 407.50 Td (In ) Tj ET Q q 0 0 0 rg BT 130.91 407.50 Td (the ) Tj ET Q q 0 0 0 rg BT 142.93 407.50 Td (event ) Tj ET Q q 0 0 0 rg BT 162.06 407.50 Td (you ) Tj ET Q q 0 0 0 rg BT 175.86 407.50 Td (give ) Tj ET Q q 0 0 0 rg BT 191.43 407.50 Td (notice ) Tj ET Q q 0 0 0 rg BT 213.22 407.50 Td (of ) Tj ET Q q 0 0 0 rg BT 221.69 407.50 Td (termination ) Tj ET Q q 0 0 0 rg BT 261.27 407.50 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 291.97 407.50 Td (to ) Tj ET Q q 0 0 0 rg BT 300.44 407.50 Td (clause ) Tj ET Q q 0 0 0 rg BT 323.13 407.50 Td (9.1, ) Tj ET Q q 0 0 0 rg BT 337.38 407.50 Td (the ) Tj ET Q q 0 0 0 rg BT 349.40 407.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 382.31 407.50 Td (may ) Tj ET Q q 0 0 0 rg BT 397.88 407.50 Td (elect ) Tj ET Q q 0 0 0 rg BT 415.23 407.50 Td (to ) Tj ET Q q 0 0 0 rg BT 423.70 407.50 Td (pr) Tj ET Q q 0 0 0 rg BT 430.52 407.50 Td (ovide ) Tj ET Q q 0 0 0 rg BT 450.09 407.50 Td (you ) Tj ET Q q 0 0 0 rg BT 463.89 407.50 Td (with ) Tj ET Q q 0 0 0 rg BT 479.92 407.50 Td (payment ) Tj ET Q q 0 0 0 rg BT 509.27 407.50 Td (in ) Tj ET Q q 0 0 0 rg BT 517.74 407.50 Td (lieu ) Tj ET Q q 0 0 0 rg BT 531.98 407.50 Td (of ) Tj ET Q q 0 0 0 rg BT 540.45 407.50 Td (notice. ) Tj ET Q q 0 0 0 rg BT 564.00 407.50 Td ( ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 397.90 Td (This ) Tj ET Q q 0 0 0 rg BT 100.97 397.90 Td (payment ) Tj ET Q q 0 0 0 rg BT 130.26 397.90 Td (will ) Tj ET Q q 0 0 0 rg BT 144.45 397.90 Td (be ) Tj ET Q q 0 0 0 rg BT 154.18 397.90 Td ( ) Tj ET Q q 0 0 0 rg BT 156.37 397.90 Td (comprised ) Tj ET Q q 0 0 0 rg BT 191.88 397.90 Td (solely ) Tj ET Q q 0 0 0 rg BT 212.73 397.90 Td (of ) Tj ET Q q 0 0 0 rg BT 221.14 397.90 Td (your ) Tj ET Q q 0 0 0 rg BT 237.99 397.90 Td (basic ) Tj ET Q q 0 0 0 rg BT 257.06 397.90 Td (salary ) Tj ET Q q 0 0 0 rg BT 279.24 397.90 Td (\(at ) Tj ET Q q 0 0 0 rg BT 290.32 397.90 Td (the ) Tj ET Q q 0 0 0 rg BT 302.28 397.90 Td (rate ) Tj ET Q q 0 0 0 rg BT 317.35 397.90 Td (payable ) Tj ET Q q 0 0 0 rg BT 344.86 397.90 Td (when ) Tj ET Q q 0 0 0 rg BT 363.93 397.90 Td (this ) Tj ET Q q 0 0 0 rg BT 377.67 397.90 Td (option ) Tj ET Q q 0 0 0 rg BT 400.30 397.90 Td (is ) Tj ET Q q 0 0 0 rg BT 407.83 397.90 Td (exer) Tj ET Q q 0 0 0 rg BT 421.29 397.90 Td (cised\) ) Tj ET Q q 0 0 0 rg BT 442.58 397.90 Td (in ) Tj ET Q q 0 0 0 rg BT 450.99 397.90 Td (r) Tj ET Q q 0 0 0 rg BT 453.81 397.90 Td (espect ) Tj ET Q q 0 0 0 rg BT 475.98 397.90 Td (of ) Tj ET Q q 0 0 0 rg BT 484.39 397.90 Td (the ) Tj ET Q q 0 0 0 rg BT 496.35 397.90 Td (portion ) Tj ET Q q 0 0 0 rg BT 522.09 397.90 Td (of ) Tj ET Q q 0 0 0 rg BT 530.50 397.90 Td (the ) Tj ET Q q 0 0 0 rg BT 542.46 397.90 Td (notice ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 388.30 Td (period ) Tj ET Q q 0 0 0 rg BT 108.00 388.30 Td (r) Tj ET Q q 0 0 0 rg BT 110.81 388.30 Td (emaining ) Tj ET Q q 0 0 0 rg BT 142.69 388.30 Td (at ) Tj ET Q q 0 0 0 rg BT 151.02 388.30 Td (the ) Tj ET Q q 0 0 0 rg BT 162.91 388.30 Td (time ) Tj ET Q q 0 0 0 rg BT 178.79 388.30 Td (the ) Tj ET Q q 0 0 0 rg BT 190.67 388.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 223.44 388.30 Td (exer) Tj ET Q q 0 0 0 rg BT 236.91 388.30 Td (cises ) Tj ET Q q 0 0 0 rg BT 254.57 388.30 Td (this ) Tj ET Q q 0 0 0 rg BT 268.24 388.30 Td (option ) Tj ET Q q 0 0 0 rg BT 290.79 388.30 Td (and ) Tj ET Q q 0 0 0 rg BT 304.90 388.30 Td (any ) Tj ET Q q 0 0 0 rg BT 318.56 388.30 Td (earned ) Tj ET Q q 0 0 0 rg BT 342.88 388.30 Td (but ) Tj ET Q q 0 0 0 rg BT 355.21 388.30 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 379.54 388.30 Td (bonus ) Tj ET Q q 0 0 0 rg BT 400.77 388.30 Td (awar) Tj ET Q q 0 0 0 rg BT 416.92 388.30 Td (ded ) Tj ET Q q 0 0 0 rg BT 430.58 388.30 Td (in ) Tj ET Q q 0 0 0 rg BT 438.91 388.30 Td (accor) Tj ET Q q 0 0 0 rg BT 456.83 388.30 Td (dance ) Tj ET Q q 0 0 0 rg BT 478.04 388.30 Td (with ) Tj ET Q q 0 0 0 rg BT 493.93 388.30 Td (clause ) Tj ET Q q 0 0 0 rg BT 516.47 388.30 Td (4.2 ) Tj ET Q q 0 0 0 rg BT 528.58 388.30 Td (her) Tj ET Q q 0 0 0 rg BT 538.95 388.30 Td (eof. ) Tj ET Q q 0 0 0 rg BT 552.68 388.30 Td (All ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 378.70 Td (payments ) Tj ET Q q 0 0 0 rg BT 116.96 378.70 Td (made ) Tj ET Q q 0 0 0 rg BT 136.03 378.70 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 166.22 378.70 Td (to ) Tj ET Q q 0 0 0 rg BT 174.19 378.70 Td (this ) Tj ET Q q 0 0 0 rg BT 187.49 378.70 Td (clause ) Tj ET Q q 0 0 0 rg BT 209.68 378.70 Td (9.2 ) Tj ET Q q 0 0 0 rg BT 221.42 378.70 Td (shall ) Tj ET Q q 0 0 0 rg BT 238.72 378.70 Td (be ) Tj ET Q q 0 0 0 rg BT 248.02 378.70 Td (subject ) Tj ET Q q 0 0 0 rg BT 272.42 378.70 Td (to ) Tj ET Q q 0 0 0 rg BT 280.39 378.70 Td (deductions ) Tj ET Q q 0 0 0 rg BT 316.79 378.70 Td (for ) Tj ET Q q 0 0 0 rg BT 327.87 378.70 Td (income ) Tj ET Q q 0 0 0 rg BT 352.72 378.70 Td (tax ) Tj ET Q q 0 0 0 rg BT 364.24 378.70 Td (and ) Tj ET Q q 0 0 0 rg BT 377.98 378.70 Td (social ) Tj ET Q q 0 0 0 rg BT 398.83 378.70 Td (security ) Tj ET Q q 0 0 0 rg BT 425.90 378.70 Td (contributions ) Tj ET Q q 0 0 0 rg BT 470.31 378.70 Td (as ) Tj ET Q q 0 0 0 rg BT 479.17 378.70 Td (appr) Tj ET Q q 0 0 0 rg BT 493.99 378.70 Td (opriate. ) Tj ET Q q 0 0 0 rg BT 520.84 378.70 Td ( ) Tj ET Q q 0 0 0 rg BT 522.59 378.70 Td (Y) Tj ET Q q 0 0 0 rg BT 526.30 378.70 Td (ou ) Tj ET Q q 0 0 0 rg BT 536.04 378.70 Td (will ) Tj ET Q q 0 0 0 rg BT 549.79 378.70 Td (not, ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 369.10 Td (under ) Tj ET Q q 0 0 0 rg BT 105.91 369.10 Td (any ) Tj ET Q q 0 0 0 rg BT 119.70 369.10 Td (cir) Tj ET Q q 0 0 0 rg BT 128.29 369.10 Td (cumstances, ) Tj ET Q q 0 0 0 rg BT 169.42 369.10 Td (have ) Tj ET Q q 0 0 0 rg BT 186.76 369.10 Td (any ) Tj ET Q q 0 0 0 rg BT 200.56 369.10 Td (right ) Tj ET Q q 0 0 0 rg BT 218.36 369.10 Td (to ) Tj ET Q q 0 0 0 rg BT 226.83 369.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 256.17 369.10 Td (in ) Tj ET Q q 0 0 0 rg BT 264.64 369.10 Td (lieu ) Tj ET Q q 0 0 0 rg BT 278.88 369.10 Td (of ) Tj ET Q q 0 0 0 rg BT 287.35 369.10 Td (notice ) Tj ET Q q 0 0 0 rg BT 309.14 369.10 Td (unless ) Tj ET Q q 0 0 0 rg BT 331.38 369.10 Td (the ) Tj ET Q q 0 0 0 rg BT 343.40 369.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 376.31 369.10 Td (has ) Tj ET Q q 0 0 0 rg BT 389.66 369.10 Td (exer) Tj ET Q q 0 0 0 rg BT 403.13 369.10 Td (cised ) Tj ET Q q 0 0 0 rg BT 421.81 369.10 Td (its ) Tj ET Q q 0 0 0 rg BT 431.62 369.10 Td (option ) Tj ET Q q 0 0 0 rg BT 454.31 369.10 Td (to ) Tj ET Q q 0 0 0 rg BT 462.77 369.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 476.57 369.10 Td (in ) Tj ET Q q 0 0 0 rg BT 485.04 369.10 Td (lieu ) Tj ET Q q 0 0 0 rg BT 499.28 369.10 Td (of ) Tj ET Q q 0 0 0 rg BT 507.74 369.10 Td (notice ) Tj ET Q q 0 0 0 rg BT 529.53 369.10 Td (under ) Tj ET Q q 0 0 0 rg BT 550.44 369.10 Td (this ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 359.50 Td (clause ) Tj ET Q q 0 0 0 rg BT 107.44 359.50 Td (9.2.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 340.30 Td (9.3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 95.00 340.30 Td ( ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 122.00 340.30 Td (If ) Tj ET Q q 0 0 0 rg BT 128.60 340.30 Td (the ) Tj ET Q q 0 0 0 rg BT 140.09 340.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 172.47 340.30 Td (delivers ) Tj ET Q q 0 0 0 rg BT 199.50 340.30 Td (notice ) Tj ET Q q 0 0 0 rg BT 220.76 340.30 Td (of ) Tj ET Q q 0 0 0 rg BT 228.70 340.30 Td (termination ) Tj ET Q q 0 0 0 rg BT 267.75 340.30 Td (without ) Tj ET Q q 0 0 0 rg BT 293.46 340.30 Td (cause ) Tj ET Q q 0 0 0 rg BT 313.39 340.30 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 343.56 340.30 Td (to ) Tj ET Q q 0 0 0 rg BT 351.49 340.30 Td (clause ) Tj ET Q q 0 0 0 rg BT 373.64 340.30 Td (9.1, ) Tj ET Q q 0 0 0 rg BT 387.36 340.30 Td (this ) Tj ET Q q 0 0 0 rg BT 400.63 340.30 Td (Contract ) Tj ET Q q 0 0 0 rg BT 430.79 340.30 Td (shall ) Tj ET Q q 0 0 0 rg BT 448.06 340.30 Td (terminate ) Tj ET Q q 0 0 0 rg BT 480.44 340.30 Td (with ) Tj ET Q q 0 0 0 rg BT 495.93 340.30 Td (immediate ) Tj ET Q q 0 0 0 rg BT 530.97 340.30 Td (effect ) Tj ET Q q 0 0 0 rg BT 550.00 340.30 Td (and ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 330.70 Td (the ) Tj ET Q q 0 0 0 rg BT 96.77 330.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 129.44 330.70 Td (shall ) Tj ET Q q 0 0 0 rg BT 147.00 330.70 Td (make ) Tj ET Q q 0 0 0 rg BT 165.88 330.70 Td (payment ) Tj ET Q q 0 0 0 rg BT 194.98 330.70 Td (in ) Tj ET Q q 0 0 0 rg BT 203.20 330.70 Td (lieu ) Tj ET Q q 0 0 0 rg BT 217.20 330.70 Td (of ) Tj ET Q q 0 0 0 rg BT 225.42 330.70 Td (notice ) Tj ET Q q 0 0 0 rg BT 246.96 330.70 Td (as ) Tj ET Q q 0 0 0 rg BT 256.08 330.70 Td (pr) Tj ET Q q 0 0 0 rg BT 262.89 330.70 Td (ovided ) Tj ET Q q 0 0 0 rg BT 286.22 330.70 Td (in ) Tj ET Q q 0 0 0 rg BT 294.44 330.70 Td (clause ) Tj ET Q q 0 0 0 rg BT 316.88 330.70 Td (9.5.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 311.50 Td (9.4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 95.00 311.50 Td ( ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 122.00 311.50 Td (Y) Tj ET Q q 0 0 0 rg BT 125.71 311.50 Td (ou ) Tj ET Q q 0 0 0 rg BT 136.21 311.50 Td (may ) Tj ET Q q 0 0 0 rg BT 152.03 311.50 Td (terminate ) Tj ET Q q 0 0 0 rg BT 185.18 311.50 Td (this ) Tj ET Q q 0 0 0 rg BT 199.23 311.50 Td (Contract, ) Tj ET Q q 0 0 0 rg BT 232.17 311.50 Td (unless ) Tj ET Q q 0 0 0 rg BT 254.66 311.50 Td (it ) Tj ET Q q 0 0 0 rg BT 261.60 311.50 Td (has ) Tj ET Q q 0 0 0 rg BT 275.20 311.50 Td (been ) Tj ET Q q 0 0 0 rg BT 292.80 311.50 Td (pr) Tj ET Q q 0 0 0 rg BT 299.61 311.50 Td (eviously ) Tj ET Q q 0 0 0 rg BT 328.32 311.50 Td (terminated ) Tj ET Q q 0 0 0 rg BT 365.47 311.50 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 396.41 311.50 Td (to ) Tj ET Q q 0 0 0 rg BT 405.13 311.50 Td (any ) Tj ET Q q 0 0 0 rg BT 419.17 311.50 Td (other ) Tj ET Q q 0 0 0 rg BT 438.55 311.50 Td (pr) Tj ET Q q 0 0 0 rg BT 445.36 311.50 Td (ovision ) Tj ET Q q 0 0 0 rg BT 470.96 311.50 Td (her) Tj ET Q q 0 0 0 rg BT 481.33 311.50 Td (eof, ) Tj ET Q q 0 0 0 rg BT 495.60 311.50 Td (if ) Tj ET Q q 0 0 0 rg BT 502.54 311.50 Td (the ) Tj ET Q q 0 0 0 rg BT 514.80 311.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 547.96 311.50 Td (is ) Tj ET Q q 0 0 0 rg BT 555.79 311.50 Td (in ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 301.90 Td (material ) Tj ET Q q 0 0 0 rg BT 114.12 301.90 Td (br) Tj ET Q q 0 0 0 rg BT 120.93 301.90 Td (each ) Tj ET Q q 0 0 0 rg BT 138.04 301.90 Td (of ) Tj ET Q q 0 0 0 rg BT 146.27 301.90 Td (this ) Tj ET Q q 0 0 0 rg BT 159.84 301.90 Td (Contract. ) Tj ET Q q 0 0 0 rg BT 192.14 301.90 Td (A) Tj ET Q q 0 0 0 rg BT 196.89 301.90 Td ( ) Tj ET Q q 0 0 0 rg BT 198.89 301.90 Td (material ) Tj ET Q q 0 0 0 rg BT 228.01 301.90 Td (br) Tj ET Q q 0 0 0 rg BT 234.82 301.90 Td (each ) Tj ET Q q 0 0 0 rg BT 251.93 301.90 Td (by ) Tj ET Q q 0 0 0 rg BT 261.49 301.90 Td (the ) Tj ET Q q 0 0 0 rg BT 273.27 301.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 305.94 301.90 Td (shall ) Tj ET Q q 0 0 0 rg BT 323.51 301.90 Td (include, ) Tj ET Q q 0 0 0 rg BT 351.06 301.90 Td (but ) Tj ET Q q 0 0 0 rg BT 363.29 301.90 Td (not ) Tj ET Q q 0 0 0 rg BT 375.52 301.90 Td (be ) Tj ET Q q 0 0 0 rg BT 385.08 301.90 Td (limited ) Tj ET Q q 0 0 0 rg BT 409.30 301.90 Td (to, ) Tj ET Q q 0 0 0 rg BT 419.53 301.90 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 429.09 301.90 Td (the ) Tj ET Q q 0 0 0 rg BT 440.87 301.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 473.54 301.90 Td (violating ) Tj ET Q q 0 0 0 rg BT 503.99 301.90 Td (clause ) Tj ET Q q 0 0 0 rg BT 526.43 301.90 Td (2 ) Tj ET Q q 0 0 0 rg BT 532.44 301.90 Td (or ) Tj ET Q q 0 0 0 rg BT 541.56 301.90 Td (clause ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 292.30 Td (3 ) Tj ET Q q 0 0 0 rg BT 90.99 292.30 Td (of ) Tj ET Q q 0 0 0 rg BT 99.21 292.30 Td (this ) Tj ET Q q 0 0 0 rg BT 112.76 292.30 Td (Contract ) Tj ET Q q 0 0 0 rg BT 143.20 292.30 Td (with ) Tj ET Q q 0 0 0 rg BT 158.98 292.30 Td (r) Tj ET Q q 0 0 0 rg BT 161.79 292.30 Td (espect ) Tj ET Q q 0 0 0 rg BT 183.78 292.30 Td (to ) Tj ET Q q 0 0 0 rg BT 191.99 292.30 Td (title, ) Tj ET Q q 0 0 0 rg BT 208.43 292.30 Td (authority) Tj ET Q q 0 0 0 rg BT 237.32 292.30 Td (, ) Tj ET Q q 0 0 0 rg BT 241.31 292.30 Td (status, ) Tj ET Q q 0 0 0 rg BT 263.98 292.30 Td (duties ) Tj ET Q q 0 0 0 rg BT 285.08 292.30 Td (and ) Tj ET Q q 0 0 0 rg BT 299.08 292.30 Td (r) Tj ET Q q 0 0 0 rg BT 301.89 292.30 Td (esponsibilities, ) Tj ET Q q 0 0 0 rg BT 351.67 292.30 Td (or ) Tj ET Q q 0 0 0 rg BT 360.77 292.30 Td (place ) Tj ET Q q 0 0 0 rg BT 380.09 292.30 Td (of ) Tj ET Q q 0 0 0 rg BT 388.31 292.30 Td (employment ) Tj ET Q q 0 0 0 rg BT 428.96 292.30 Td (and ) Tj ET Q q 0 0 0 rg BT 442.95 292.30 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 454.72 292.30 Td (the ) Tj ET Q q 0 0 0 rg BT 466.48 292.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 499.14 292.30 Td (failing ) Tj ET Q q 0 0 0 rg BT 522.03 292.30 Td (to ) Tj ET Q q 0 0 0 rg BT 530.24 292.30 Td (cause ) Tj ET Q q 0 0 0 rg BT 550.45 292.30 Td (any ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 282.70 Td (successor ) Tj ET Q q 0 0 0 rg BT 117.98 282.70 Td (to ) Tj ET Q q 0 0 0 rg BT 126.08 282.70 Td (all ) Tj ET Q q 0 0 0 rg BT 136.40 282.70 Td (or ) Tj ET Q q 0 0 0 rg BT 145.39 282.70 Td (substantially ) Tj ET Q q 0 0 0 rg BT 188.15 282.70 Td (all ) Tj ET Q q 0 0 0 rg BT 198.47 282.70 Td (of ) Tj ET Q q 0 0 0 rg BT 206.57 282.70 Td (the ) Tj ET Q q 0 0 0 rg BT 218.22 282.70 Td (business ) Tj ET Q q 0 0 0 rg BT 247.21 282.70 Td (and ) Tj ET Q q 0 0 0 rg BT 261.08 282.70 Td (assets ) Tj ET Q q 0 0 0 rg BT 282.07 282.70 Td (of ) Tj ET Q q 0 0 0 rg BT 290.17 282.70 Td (the ) Tj ET Q q 0 0 0 rg BT 301.82 282.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 334.36 282.70 Td (or ) Tj ET Q q 0 0 0 rg BT 343.34 282.70 Td (CME ) Tj ET Q q 0 0 0 rg BT 362.11 282.70 Td (Ltd. ) Tj ET Q q 0 0 0 rg BT 376.65 282.70 Td (expr) Tj ET Q q 0 0 0 rg BT 390.57 282.70 Td (essly ) Tj ET Q q 0 0 0 rg BT 408.00 282.70 Td (to ) Tj ET Q q 0 0 0 rg BT 416.09 282.70 Td (assume ) Tj ET Q q 0 0 0 rg BT 441.52 282.70 Td (the ) Tj ET Q q 0 0 0 rg BT 453.17 282.70 Td (obligations ) Tj ET Q q 0 0 0 rg BT 491.05 282.70 Td (of ) Tj ET Q q 0 0 0 rg BT 499.15 282.70 Td (the ) Tj ET Q q 0 0 0 rg BT 510.80 282.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 543.34 282.70 Td (under ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 273.10 Td (this ) Tj ET Q q 0 0 0 rg BT 97.79 273.10 Td (Contract ) Tj ET Q q 0 0 0 rg BT 127.47 273.10 Td (\(including ) Tj ET Q q 0 0 0 rg BT 161.58 273.10 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 191.26 273.10 Td (to ) Tj ET Q q 0 0 0 rg BT 198.72 273.10 Td (this ) Tj ET Q q 0 0 0 rg BT 211.51 273.10 Td (clause ) Tj ET Q q 0 0 0 rg BT 233.17 273.10 Td (9.4\). ) Tj ET Q q 0 0 0 rg BT 249.07 273.10 Td (Such ) Tj ET Q q 0 0 0 rg BT 265.85 273.10 Td (right ) Tj ET Q q 0 0 0 rg BT 282.64 273.10 Td (shall ) Tj ET Q q 0 0 0 rg BT 299.43 273.10 Td (be ) Tj ET Q q 0 0 0 rg BT 308.21 273.10 Td (exer) Tj ET Q q 0 0 0 rg BT 321.68 273.10 Td (cisable ) Tj ET Q q 0 0 0 rg BT 345.58 273.10 Td (by ) Tj ET Q q 0 0 0 rg BT 354.36 273.10 Td (your ) Tj ET Q q 0 0 0 rg BT 370.25 273.10 Td (delivering ) Tj ET Q q 0 0 0 rg BT 403.92 273.10 Td (written ) Tj ET Q q 0 0 0 rg BT 427.82 273.10 Td (notice ) Tj ET Q q 0 0 0 rg BT 448.60 273.10 Td (to ) Tj ET Q q 0 0 0 rg BT 456.05 273.10 Td (the ) Tj ET Q q 0 0 0 rg BT 467.05 273.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 498.95 273.10 Td (and ) Tj ET Q q 0 0 0 rg BT 512.18 273.10 Td (the ) Tj ET Q q 0 0 0 rg BT 523.19 273.10 Td (T) Tj ET Q q 0 0 0 rg BT 526.90 273.10 Td (ermination ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 263.50 Td (Date ) Tj ET Q q 0 0 0 rg BT 102.52 263.50 Td (shall ) Tj ET Q q 0 0 0 rg BT 120.06 263.50 Td (be ) Tj ET Q q 0 0 0 rg BT 129.58 263.50 Td (effective ) Tj ET Q q 0 0 0 rg BT 158.20 263.50 Td (30 ) Tj ET Q q 0 0 0 rg BT 168.17 263.50 Td (days ) Tj ET Q q 0 0 0 rg BT 184.81 263.50 Td (after ) Tj ET Q q 0 0 0 rg BT 201.89 263.50 Td (giving ) Tj ET Q q 0 0 0 rg BT 223.86 263.50 Td (such ) Tj ET Q q 0 0 0 rg BT 240.50 263.50 Td (notice; ) Tj ET Q q 0 0 0 rg BT 264.69 263.50 Td (pr) Tj ET Q q 0 0 0 rg BT 271.50 263.50 Td (ovided, ) Tj ET Q q 0 0 0 rg BT 296.80 263.50 Td (that ) Tj ET Q q 0 0 0 rg BT 311.22 263.50 Td (such ) Tj ET Q q 0 0 0 rg BT 327.86 263.50 Td (notice ) Tj ET Q q 0 0 0 rg BT 349.38 263.50 Td (is ) Tj ET Q q 0 0 0 rg BT 356.69 263.50 Td (deliver) Tj ET Q q 0 0 0 rg BT 378.60 263.50 Td (ed ) Tj ET Q q 0 0 0 rg BT 388.13 263.50 Td (to ) Tj ET Q q 0 0 0 rg BT 396.32 263.50 Td (the ) Tj ET Q q 0 0 0 rg BT 408.07 263.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 440.71 263.50 Td (within ) Tj ET Q q 0 0 0 rg BT 462.68 263.50 Td (90 ) Tj ET Q q 0 0 0 rg BT 472.66 263.50 Td (days ) Tj ET Q q 0 0 0 rg BT 489.29 263.50 Td (after ) Tj ET Q q 0 0 0 rg BT 506.38 263.50 Td (the ) Tj ET Q q 0 0 0 rg BT 518.13 263.50 Td (occurr) Tj ET Q q 0 0 0 rg BT 539.16 263.50 Td (ence ) Tj ET Q q 0 0 0 rg BT 555.78 263.50 Td (of ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 253.90 Td (such ) Tj ET Q q 0 0 0 rg BT 101.47 253.90 Td (material ) Tj ET Q q 0 0 0 rg BT 130.38 253.90 Td (br) Tj ET Q q 0 0 0 rg BT 137.20 253.90 Td (each; ) Tj ET Q q 0 0 0 rg BT 156.77 253.90 Td (and ) Tj ET Q q 0 0 0 rg BT 170.57 253.90 Td (pr) Tj ET Q q 0 0 0 rg BT 177.39 253.90 Td (ovided, ) Tj ET Q q 0 0 0 rg BT 202.51 253.90 Td (further) Tj ET Q q 0 0 0 rg BT 223.85 253.90 Td (, ) Tj ET Q q 0 0 0 rg BT 227.65 253.90 Td (that ) Tj ET Q q 0 0 0 rg BT 241.90 253.90 Td (this ) Tj ET Q q 0 0 0 rg BT 255.27 253.90 Td (Contract ) Tj ET Q q 0 0 0 rg BT 285.51 253.90 Td (shall ) Tj ET Q q 0 0 0 rg BT 302.88 253.90 Td (not ) Tj ET Q q 0 0 0 rg BT 314.90 253.90 Td (terminate ) Tj ET Q q 0 0 0 rg BT 347.37 253.90 Td (if ) Tj ET Q q 0 0 0 rg BT 353.62 253.90 Td (such ) Tj ET Q q 0 0 0 rg BT 370.08 253.90 Td (notice ) Tj ET Q q 0 0 0 rg BT 391.43 253.90 Td (is ) Tj ET Q q 0 0 0 rg BT 398.57 253.90 Td (the ) Tj ET Q q 0 0 0 rg BT 410.15 253.90 Td (first ) Tj ET Q q 0 0 0 rg BT 424.85 253.90 Td (such ) Tj ET Q q 0 0 0 rg BT 441.32 253.90 Td (notice ) Tj ET Q q 0 0 0 rg BT 462.67 253.90 Td (of ) Tj ET Q q 0 0 0 rg BT 470.69 253.90 Td (termination ) Tj ET Q q 0 0 0 rg BT 509.83 253.90 Td (deliver) Tj ET Q q 0 0 0 rg BT 531.74 253.90 Td (ed ) Tj ET Q q 0 0 0 rg BT 541.10 253.90 Td (by ) Tj ET Q q 0 0 0 rg BT 550.45 253.90 Td (you ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 244.30 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 115.70 244.30 Td (to ) Tj ET Q q 0 0 0 rg BT 124.17 244.30 Td (this ) Tj ET Q q 0 0 0 rg BT 137.98 244.30 Td (clause ) Tj ET Q q 0 0 0 rg BT 160.66 244.30 Td (9.4 ) Tj ET Q q 0 0 0 rg BT 172.91 244.30 Td (and ) Tj ET Q q 0 0 0 rg BT 187.16 244.30 Td (within ) Tj ET Q q 0 0 0 rg BT 209.42 244.30 Td (such ) Tj ET Q q 0 0 0 rg BT 226.33 244.30 Td (30-day ) Tj ET Q q 0 0 0 rg BT 250.79 244.30 Td (period ) Tj ET Q q 0 0 0 rg BT 273.93 244.30 Td (the ) Tj ET Q q 0 0 0 rg BT 285.95 244.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 318.86 244.30 Td (shall ) Tj ET Q q 0 0 0 rg BT 336.67 244.30 Td (have ) Tj ET Q q 0 0 0 rg BT 354.02 244.30 Td (cur) Tj ET Q q 0 0 0 rg BT 364.39 244.30 Td (ed ) Tj ET Q q 0 0 0 rg BT 374.19 244.30 Td (any ) Tj ET Q q 0 0 0 rg BT 387.99 244.30 Td (material ) Tj ET Q q 0 0 0 rg BT 417.35 244.30 Td (br) Tj ET Q q 0 0 0 rg BT 424.16 244.30 Td (each. ) Tj ET Q q 0 0 0 rg BT 443.51 244.30 Td () Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 447.96 244.30 Td (T) Tj ET Q q 0 0 0 rg BT 452.12 244.30 Td (ermination ) Tj ET Q q 0 0 0 rg BT 490.82 244.30 Td (Date) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 506.37 244.30 Td ( ) Tj ET Q q 0 0 0 rg BT 513.07 244.30 Td (shall ) Tj ET Q q 0 0 0 rg BT 530.87 244.30 Td (mean ) Tj ET Q q 0 0 0 rg BT 550.45 244.30 Td (any ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 234.70 Td (date ) Tj ET Q q 0 0 0 rg BT 100.77 234.70 Td (on ) Tj ET Q q 0 0 0 rg BT 110.77 234.70 Td (which ) Tj ET Q q 0 0 0 rg BT 131.88 234.70 Td (this ) Tj ET Q q 0 0 0 rg BT 145.44 234.70 Td (Contract ) Tj ET Q q 0 0 0 rg BT 175.89 234.70 Td (is ) Tj ET Q q 0 0 0 rg BT 183.22 234.70 Td (terminated ) Tj ET Q q 0 0 0 rg BT 219.88 234.70 Td (under ) Tj ET Q q 0 0 0 rg BT 240.55 234.70 Td (clause ) Tj ET Q q 0 0 0 rg BT 262.98 234.70 Td (9 ) Tj ET Q q 0 0 0 rg BT 268.98 234.70 Td (of ) Tj ET Q q 0 0 0 rg BT 277.21 234.70 Td (this ) Tj ET Q q 0 0 0 rg BT 290.77 234.70 Td (Contract.) 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0 0 0 rg BT 106.94 186.70 Td (in ) Tj ET Q q 0 0 0 rg BT 115.10 186.70 Td (r) Tj ET Q q 0 0 0 rg BT 117.92 186.70 Td (espect ) Tj ET Q q 0 0 0 rg BT 139.85 186.70 Td (of ) Tj ET Q q 0 0 0 rg BT 148.01 186.70 Td (your ) Tj ET Q q 0 0 0 rg BT 164.62 186.70 Td (notice ) Tj ET Q q 0 0 0 rg BT 186.10 186.70 Td (period, ) Tj ET Q q 0 0 0 rg BT 210.93 186.70 Td (together ) Tj ET Q q 0 0 0 rg BT 239.53 186.70 Td (with ) Tj ET Q q 0 0 0 rg BT 255.25 186.70 Td (an ) Tj ET Q q 0 0 0 rg BT 265.19 186.70 Td (amount ) Tj ET Q q 0 0 0 rg BT 291.13 186.70 Td (equal ) Tj ET Q q 0 0 0 rg BT 310.85 186.70 Td (to ) Tj ET Q q 0 0 0 rg BT 319.01 186.70 Td (the ) Tj ET Q q 0 0 0 rg BT 330.72 186.70 Td (pr) Tj ET Q q 0 0 0 rg BT 337.54 186.70 Td (o-rated ) Tj ET Q q 0 0 0 rg BT 363.03 186.70 Td (portion ) Tj ET Q q 0 0 0 rg BT 388.53 186.70 Td (of ) Tj ET Q q 0 0 0 rg BT 396.69 186.70 Td (your ) Tj ET Q q 0 0 0 rg BT 413.30 186.70 Td (T) Tj ET Q q 0 0 0 rg BT 417.01 186.70 Td (ar) Tj ET Q q 0 0 0 rg BT 423.83 186.70 Td (get ) Tj ET Q q 0 0 0 rg BT 435.54 186.70 Td (Bonus ) Tj ET Q q 0 0 0 rg BT 457.48 186.70 Td (for ) Tj ET Q q 0 0 0 rg BT 468.76 186.70 Td (the ) Tj ET Q q 0 0 0 rg BT 480.47 186.70 Td (period ) Tj ET Q q 0 0 0 rg BT 503.30 186.70 Td (to ) Tj ET Q q 0 0 0 rg BT 511.46 186.70 Td (the ) Tj ET Q q 0 0 0 rg BT 523.18 186.70 Td (T) Tj ET Q q 0 0 0 rg BT 526.89 186.70 Td (ermination ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 177.10 Td (Date ) Tj ET Q q 0 0 0 rg BT 102.13 177.10 Td (for ) Tj ET Q q 0 0 0 rg BT 113.04 177.10 Td (the ) Tj ET Q q 0 0 0 rg BT 124.38 177.10 Td (year ) Tj ET Q q 0 0 0 rg BT 140.17 177.10 Td (in ) Tj ET Q q 0 0 0 rg BT 147.97 177.10 Td (which ) Tj ET Q q 0 0 0 rg BT 168.65 177.10 Td (termination ) Tj ET Q q 0 0 0 rg BT 207.56 177.10 Td (occurs. ) Tj ET Q q 0 0 0 rg BT 232.46 177.10 Td (In ) Tj ET Q q 0 0 0 rg BT 240.70 177.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 270.94 177.10 Td (you ) Tj ET Q q 0 0 0 rg BT 284.07 177.10 Td (shall ) Tj ET Q q 0 0 0 rg BT 301.20 177.10 Td (be ) Tj ET Q q 0 0 0 rg BT 310.32 177.10 Td (entitled ) Tj ET Q q 0 0 0 rg BT 335.89 177.10 Td (to ) Tj ET Q q 0 0 0 rg BT 343.69 177.10 Td (medical ) Tj ET Q q 0 0 0 rg BT 370.59 177.10 Td (and ) Tj ET Q q 0 0 0 rg BT 384.16 177.10 Td (dental ) Tj ET Q q 0 0 0 rg BT 405.73 177.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 438.86 177.10 Td (as ) Tj ET Q q 0 0 0 rg BT 447.54 177.10 Td (pr) Tj ET Q q 0 0 0 rg BT 454.36 177.10 Td (ovided ) Tj ET Q q 0 0 0 rg BT 477.26 177.10 Td (in ) Tj ET Q q 0 0 0 rg BT 485.05 177.10 Td (clause ) Tj ET Q q 0 0 0 rg BT 507.07 177.10 Td (5.1.1 ) Tj ET Q q 0 0 0 rg BT 524.64 177.10 Td (for ) Tj ET Q q 0 0 0 rg BT 535.55 177.10 Td (a ) Tj ET Q q 0 0 0 rg BT 541.13 177.10 Td (period ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 167.50 Td (of ) Tj ET Q q 0 0 0 rg BT 92.78 167.50 Td (twelve ) Tj ET Q q 0 0 0 rg BT 114.78 167.50 Td (months ) Tj ET Q q 0 0 0 rg BT 139.45 167.50 Td (following ) Tj ET Q q 0 0 0 rg BT 171.24 167.50 Td (the ) Tj 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Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 157.90 Td (security ) Tj ET Q q 0 0 0 rg BT 112.32 157.90 Td (contributions ) Tj ET Q q 0 0 0 rg BT 156.99 157.90 Td (as ) Tj ET Q q 0 0 0 rg BT 166.11 157.90 Td (appr) Tj ET Q q 0 0 0 rg BT 180.92 157.90 Td (opriate.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 138.70 Td (9.6) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 95.00 138.70 Td ( ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 122.00 138.70 Td (A) Tj ET Q q 0 0 0 rg BT 126.74 138.70 Td ( ) Tj ET Q q 0 0 0 rg BT 128.58 138.70 Td (condition ) Tj ET Q q 0 0 0 rg BT 160.63 138.70 Td (pr) Tj ET Q q 0 0 0 rg BT 167.45 138.70 Td (ecedent ) Tj ET Q q 0 0 0 rg BT 193.71 138.70 Td (to ) Tj ET Q q 0 0 0 rg BT 201.77 138.70 Td (the ) Tj ET Q q 0 0 0 rg BT 213.37 138.70 Td (Company) Tj ET Q q 0 0 0 rg BT 245.67 138.70 Td (s ) Tj ET Q q 0 0 0 rg BT 250.62 138.70 Td (obligation ) Tj ET Q q 0 0 0 rg BT 285.34 138.70 Td (with ) Tj ET Q q 0 0 0 rg BT 300.96 138.70 Td (r) Tj ET Q q 0 0 0 rg BT 303.78 138.70 Td (espect ) Tj ET Q q 0 0 0 rg BT 325.60 138.70 Td (to ) Tj ET Q q 0 0 0 rg BT 333.66 138.70 Td (the ) Tj ET Q q 0 0 0 rg BT 345.27 138.70 Td (payment ) Tj ET Q q 0 0 0 rg BT 374.20 138.70 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 404.49 138.70 Td (to ) Tj ET Q q 0 0 0 rg BT 412.54 138.70 Td (clause ) Tj ET Q q 0 0 0 rg BT 434.82 138.70 Td (9.5 ) Tj ET Q q 0 0 0 rg BT 446.65 138.70 Td (shall ) Tj ET Q q 0 0 0 rg BT 464.05 138.70 Td (be ) Tj ET Q q 0 0 0 rg BT 473.43 138.70 Td (your ) Tj ET Q q 0 0 0 rg BT 489.93 138.70 Td (execution ) Tj ET Q q 0 0 0 rg BT 522.41 138.70 Td (and ) Tj ET Q q 0 0 0 rg BT 536.25 138.70 Td (delivery ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 129.10 Td (of ) Tj ET Q q 0 0 0 rg BT 93.22 129.10 Td (a ) Tj ET Q q 0 0 0 rg BT 99.22 129.10 Td (compr) Tj ET Q q 0 0 0 rg BT 119.37 129.10 Td (omise ) Tj ET Q q 0 0 0 rg BT 140.03 129.10 Td (agr) Tj ET Q q 0 0 0 rg BT 150.85 129.10 Td (eement ) Tj ET Q q 0 0 0 rg BT 175.50 129.10 Td (containing ) Tj ET Q q 0 0 0 rg BT 211.72 129.10 Td (customary ) Tj ET Q q 0 0 0 rg BT 247.05 129.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 266.82 129.10 Td (and ) Tj ET Q q 0 0 0 rg BT 280.82 129.10 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 318.16 129.10 Td (within ) Tj ET Q q 0 0 0 rg BT 340.16 129.10 Td (30 ) Tj ET Q q 0 0 0 rg BT 350.16 129.10 Td (days ) Tj ET Q q 0 0 0 rg BT 366.82 129.10 Td (following ) Tj ET Q q 0 0 0 rg BT 399.05 129.10 Td (the ) Tj ET Q q 0 0 0 rg BT 410.82 129.10 Td (T) Tj ET Q q 0 0 0 rg BT 414.54 129.10 Td (ermination ) Tj ET Q q 0 0 0 rg BT 451.65 129.10 Td (Date.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 109.90 Td (9.7) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 95.00 109.90 Td ( ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 122.00 109.90 Td (The ) Tj ET Q q 0 0 0 rg BT 136.29 109.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 169.25 109.90 Td (may ) Tj ET Q q 0 0 0 rg BT 184.87 109.90 Td (terminate ) Tj ET Q q 0 0 0 rg BT 217.82 109.90 Td (this ) Tj ET Q q 0 0 0 rg BT 231.67 109.90 Td (Contract ) Tj ET Q q 0 0 0 rg BT 262.41 109.90 Td (due ) Tj ET Q q 0 0 0 rg BT 276.25 109.90 Td (to ) Tj ET Q q 0 0 0 rg BT 284.77 109.90 Td (T) Tj ET Q q 0 0 0 rg BT 288.48 109.90 Td (ermination ) Tj ET Q q 0 0 0 rg BT 325.88 109.90 Td (for ) Tj ET Q q 0 0 0 rg BT 337.51 109.90 Td (Cause ) Tj ET Q q 0 0 0 rg BT 359.80 109.90 Td (without ) Tj ET Q q 0 0 0 rg BT 386.10 109.90 Td (notice, ) Tj ET Q q 0 0 0 rg BT 409.94 109.90 Td (payment ) Tj ET Q q 0 0 0 rg BT 439.33 109.90 Td (in ) Tj ET Q q 0 0 0 rg BT 447.84 109.90 Td (lieu ) Tj ET Q q 0 0 0 rg BT 462.13 109.90 Td (of ) Tj ET Q q 0 0 0 rg BT 470.65 109.90 Td (notice ) Tj ET Q q 0 0 0 rg BT 492.49 109.90 Td (or ) Tj ET Q q 0 0 0 rg BT 501.89 109.90 Td (any ) Tj ET Q q 0 0 0 rg BT 515.73 109.90 Td (other ) Tj ET Q q 0 0 0 rg BT 534.91 109.90 Td (payment ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 100.30 Td (whatsoever) Tj ET Q q 0 0 0 rg BT 120.55 100.30 Td (. ) Tj ET Q q 0 0 0 rg BT 124.66 100.30 Td () Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 129.11 100.30 Td (T) Tj ET Q q 0 0 0 rg BT 133.26 100.30 Td (ermination ) Tj ET Q q 0 0 0 rg BT 171.82 100.30 Td (for ) Tj ET Q q 0 0 0 rg BT 183.71 100.30 Td (Cause) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 204.16 100.30 Td ( ) Tj ET Q q 0 0 0 rg BT 210.72 100.30 Td ( ) Tj ET Q q 0 0 0 rg BT 212.83 100.30 Td (means ) Tj ET Q q 0 0 0 rg BT 235.38 100.30 Td (your ) Tj ET Q q 0 0 0 rg BT 252.15 100.30 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 261.81 100.30 Td (conviction ) Tj ET Q q 0 0 0 rg BT 297.24 100.30 Td (of ) Tj ET Q q 0 0 0 rg BT 305.57 100.30 Td (a ) Tj ET Q q 0 0 0 rg BT 311.68 100.30 Td (felony ) Tj ET Q q 0 0 0 rg BT 333.34 100.30 Td (or ) Tj ET Q q 0 0 0 rg BT 342.56 100.30 Td (entering ) Tj ET Q q 0 0 0 rg BT 371.33 100.30 Td (a ) Tj ET Q q 0 0 0 rg BT 377.44 100.30 Td (plea ) Tj ET Q q 0 0 0 rg BT 393.32 100.30 Td (of ) Tj ET Q q 0 0 0 rg BT 401.66 100.30 Td (nolo ) Tj ET Q q 0 0 0 rg BT 417.99 100.30 Td (contender) Tj ET Q q 0 0 0 rg BT 449.68 100.30 Td (e ) Tj ET Q q 0 0 0 rg BT 455.34 100.30 Td (\(or ) Tj ET Q q 0 0 0 rg BT 467.23 100.30 Td (its ) Tj ET Q q 0 0 0 rg BT 476.89 100.30 Td (equivalent\) ) Tj ET Q q 0 0 0 rg BT 514.99 100.30 Td (with ) Tj ET Q q 0 0 0 rg BT 530.88 100.30 Td (r) Tj ET Q q 0 0 0 rg BT 533.70 100.30 Td (espect ) Tj ET Q q 0 0 0 rg BT 555.79 100.30 Td (to ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 90.70 Td (a ) Tj ET Q q 0 0 0 rg BT 90.50 90.70 Td (char) Tj ET Q q 0 0 0 rg BT 104.87 90.70 Td (ged ) Tj ET Q q 0 0 0 rg BT 117.91 90.70 Td (felony; ) Tj ET Q q 0 0 0 rg BT 141.62 90.70 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 152.89 90.70 Td (gr) Tj ET Q q 0 0 0 rg BT 159.71 90.70 Td (oss ) Tj ET Q q 0 0 0 rg BT 171.44 90.70 Td (negligence, ) Tj ET Q q 0 0 0 rg BT 209.58 90.70 Td (r) Tj ET Q q 0 0 0 rg BT 212.40 90.70 Td (ecklessness, ) Tj ET Q q 0 0 0 rg BT 252.33 90.70 Td (dishonesty) Tj ET Q q 0 0 0 rg BT 285.66 90.70 Td (, ) Tj ET Q q 0 0 0 rg BT 289.16 90.70 Td (fraud, ) Tj ET Q q 0 0 0 rg BT 309.99 90.70 Td (wilful ) Tj ET Q q 0 0 0 rg BT 329.71 90.70 Td (malfeasance ) Tj ET Q q 0 0 0 rg BT 371.20 90.70 Td (or ) Tj ET Q q 0 0 0 rg BT 379.81 90.70 Td (wilful ) Tj ET Q q 0 0 0 rg BT 399.54 90.70 Td (misconduct ) Tj ET Q q 0 0 0 rg BT 437.47 90.70 Td (in ) Tj ET Q q 0 0 0 rg BT 445.19 90.70 Td (the ) Tj ET Q q 0 0 0 rg BT 456.46 90.70 Td (performance ) Tj ET Q q 0 0 0 rg BT 498.84 90.70 Td (of ) Tj ET Q q 0 0 0 rg BT 506.56 90.70 Td (your ) Tj ET Q q 0 0 0 rg BT 522.72 90.70 Td (duties ) Tj ET Q q 0 0 0 rg BT 543.33 90.70 Td (under ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 81.10 Td (this ) Tj ET Q q 0 0 0 rg BT 99.22 81.10 Td (Contract; ) Tj ET Q q 0 0 0 rg BT 132.98 81.10 Td (\(iii\) ) Tj ET Q q 0 0 0 rg BT 147.64 81.10 Td (wilful ) Tj ET Q q 0 0 0 rg BT 168.52 81.10 Td (misr) Tj ET Q q 0 0 0 rg BT 182.45 81.10 Td (epr) Tj ET Q q 0 0 0 rg BT 192.82 81.10 Td (esentation ) Tj ET Q q 0 0 0 rg BT 228.36 81.10 Td (to ) Tj ET Q q 0 0 0 rg BT 237.24 81.10 Td (the ) Tj ET Q q 0 0 0 rg BT 249.67 81.10 Td (shar) Tj ET Q q 0 0 0 rg BT 263.60 81.10 Td (eholders ) Tj ET Q q 0 0 0 rg BT 293.81 81.10 Td (or ) Tj ET Q q 0 0 0 rg BT 303.58 81.10 Td (dir) Tj ET Q q 0 0 0 rg BT 312.62 81.10 Td (ectors ) Tj ET Q q 0 0 0 rg BT 334.83 81.10 Td (of ) Tj ET Q q 0 0 0 rg BT 343.71 81.10 Td (CME ) Tj ET Q q 0 0 0 rg BT 363.26 81.10 Td (Ltd. ) Tj ET Q q 0 0 0 rg BT 378.59 81.10 Td (that ) Tj ET Q q 0 0 0 rg BT 393.69 81.10 Td (is ) Tj ET Q q 0 0 0 rg BT 401.69 81.10 Td (injurious ) Tj ET Q q 0 0 0 rg BT 433.24 81.10 Td (to ) Tj ET Q q 0 0 0 rg BT 442.12 81.10 Td (CME ) Tj ET Q q 0 0 0 rg BT 461.66 81.10 Td (Ltd.; ) Tj ET Q q 0 0 0 rg BT 479.66 81.10 Td (\(iv\) ) Tj ET Q q 0 0 0 rg BT 493.42 81.10 Td (wilful ) Tj ET Q q 0 0 0 rg BT 514.30 81.10 Td (failur) Tj ET Q q 0 0 0 rg BT 531.79 81.10 Td (e ) Tj ET Q q 0 0 0 rg BT 538.00 81.10 Td (without ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 71.50 Td (r) Tj ET Q q 0 0 0 rg BT 87.82 71.50 Td (easonable ) Tj ET Q q 0 0 0 rg BT 121.99 71.50 Td (justification ) Tj ET Q q 0 0 0 rg BT 161.96 71.50 Td (to ) Tj ET Q q 0 0 0 rg BT 169.92 71.50 Td (comply ) Tj ET Q q 0 0 0 rg BT 194.76 71.50 Td (with ) Tj ET Q q 0 0 0 rg BT 210.28 71.50 Td (a ) Tj ET Q q 0 0 0 rg BT 216.02 71.50 Td (r) Tj ET Q q 0 0 0 rg BT 218.83 71.50 Td (easonable ) Tj ET Q q 0 0 0 rg BT 253.01 71.50 Td (written ) Tj ET Q q 0 0 0 rg BT 277.42 71.50 Td (instruction ) Tj ET Q q 0 0 0 rg BT 313.83 71.50 Td (of ) Tj ET Q q 0 0 0 rg BT 321.79 71.50 Td (the ) Tj ET Q q 0 0 0 rg BT 333.30 71.50 Td (co-Chief ) Tj ET Q q 0 0 0 rg BT 362.59 71.50 Td (Executive ) Tj ET Q q 0 0 0 rg BT 395.41 71.50 Td (Officers ) Tj ET Q q 0 0 0 rg BT 422.92 71.50 Td (of ) Tj ET Q q 0 0 0 rg BT 430.89 71.50 Td (the ) Tj ET Q q 0 0 0 rg BT 442.40 71.50 Td (CME ) Tj ET Q q 0 0 0 rg BT 461.02 71.50 Td (Gr) Tj ET Q q 0 0 0 rg BT 469.62 71.50 Td (oup; ) Tj ET Q q 0 0 0 rg BT 486.02 71.50 Td (or ) Tj ET Q q 0 0 0 rg BT 494.87 71.50 Td (\(v\) ) Tj ET Q q 0 0 0 rg BT 505.49 71.50 Td (a ) Tj ET Q q 0 0 0 rg BT 511.23 71.50 Td (material ) Tj ET Q q 0 0 0 rg BT 540.08 71.50 Td (br) Tj ET Q q 0 0 0 rg BT 546.90 71.50 Td (each ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 61.90 Td (of ) Tj ET Q q 0 0 0 rg BT 92.99 61.90 Td (your ) Tj ET Q q 0 0 0 rg BT 109.42 61.90 Td (duties ) Tj ET Q q 0 0 0 rg BT 130.30 61.90 Td (or ) Tj ET Q q 0 0 0 rg BT 139.18 61.90 Td (obligations ) Tj ET Q q 0 0 0 rg BT 176.95 61.90 Td (under ) Tj ET Q q 0 0 0 rg BT 197.38 61.90 Td (this ) Tj ET Q q 0 0 0 rg BT 210.71 61.90 Td (Contract. ) Tj ET Q q 0 0 0 rg BT 242.92 61.90 Td (The ) Tj ET Q q 0 0 0 rg BT 256.69 61.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 289.12 61.90 Td (may) Tj ET Q q 0 0 0 rg BT 302.01 61.90 Td (, ) Tj ET Q q 0 0 0 rg BT 305.78 61.90 Td (in ) Tj ET Q q 0 0 0 rg BT 313.77 61.90 Td (its ) Tj ET Q q 0 0 0 rg BT 323.09 61.90 Td (r) Tj ET Q q 0 0 0 rg BT 325.91 61.90 Td (easonable ) Tj ET Q q 0 0 0 rg BT 360.11 61.90 Td (judgment, ) Tj ET Q q 0 0 0 rg BT 393.65 61.90 Td (suspend ) Tj ET Q q 0 0 0 rg BT 421.20 61.90 Td (you ) Tj ET Q q 0 0 0 rg BT 434.52 61.90 Td (on ) Tj ET Q q 0 0 0 rg BT 444.29 61.90 Td (full ) Tj ET Q q 0 0 0 rg BT 456.72 61.90 Td (pay ) Tj ET Q q 0 0 0 rg BT 470.04 61.90 Td (during ) Tj ET Q q 0 0 0 rg BT 493.14 61.90 Td (any ) Tj ET Q q 0 0 0 rg BT 506.46 61.90 Td (investigation ) Tj ET Q q 0 0 0 rg BT 549.56 61.90 Td (that ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 52.30 Td (the ) Tj ET Q q 0 0 0 rg BT 96.07 52.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 128.04 52.30 Td (may ) Tj ET Q q 0 0 0 rg BT 142.66 52.30 Td (undertake ) Tj ET Q q 0 0 0 rg BT 175.95 52.30 Td (into ) Tj ET Q q 0 0 0 rg BT 189.69 52.30 Td (any ) Tj ET Q q 0 0 0 rg BT 202.54 52.30 Td (fact ) Tj ET Q q 0 0 0 rg BT 215.84 52.30 Td (or ) Tj ET Q q 0 0 0 rg BT 224.25 52.30 Td (cir) Tj ET Q q 0 0 0 rg BT 232.84 52.30 Td (cumstance ) Tj ET Q q 0 0 0 rg BT 267.90 52.30 Td (which ) Tj ET Q q 0 0 0 rg BT 288.31 52.30 Td (could ) Tj ET Q q 0 0 0 rg BT 307.38 52.30 Td (lead ) Tj ET Q q 0 0 0 rg BT 322.46 52.30 Td (to ) Tj ET Q q 0 0 0 rg BT 329.98 52.30 Td (your ) Tj ET Q q 0 0 0 rg BT 345.94 52.30 Td (T) Tj ET Q q 0 0 0 rg BT 349.66 52.30 Td (ermination ) Tj ET Q q 0 0 0 rg BT 386.06 52.30 Td (for ) Tj ET Q q 0 0 0 rg BT 396.70 52.30 Td (Cause. ) Tj ET Q q 0 0 0 rg BT 420.00 52.30 Td (Notwithstanding ) Tj ET Q q 0 0 0 rg BT 474.20 52.30 Td (the ) Tj ET Q q 0 0 0 rg BT 485.27 52.30 Td (for) Tj ET Q q 0 0 0 rg BT 494.31 52.30 Td (egoing, ) Tj ET Q q 0 0 0 rg BT 519.38 52.30 Td (a ) Tj ET Q q 0 0 0 rg BT 524.68 52.30 Td (termination ) Tj ET Q endstream endobj 223 0 obj <> endobj 224 0 obj <> stream BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 743.45 Td (shall ) Tj ET Q q 0 0 0 rg BT 103.38 743.45 Td (not ) Tj ET Q q 0 0 0 rg BT 116.42 743.45 Td (be ) Tj ET Q q 0 0 0 rg BT 126.80 743.45 Td (tr) Tj ET Q q 0 0 0 rg BT 131.83 743.45 Td (eated ) Tj ET Q q 0 0 0 rg BT 151.98 743.45 Td (as ) Tj ET Q q 0 0 0 rg BT 161.92 743.45 Td (T) Tj ET Q q 0 0 0 rg BT 165.63 743.45 Td (ermination ) Tj ET Q q 0 0 0 rg BT 203.56 743.45 Td (for ) Tj ET Q q 0 0 0 rg BT 215.72 743.45 Td (Cause ) Tj ET Q q 0 0 0 rg BT 238.54 743.45 Td (unless ) Tj ET Q q 0 0 0 rg BT 261.36 743.45 Td (the ) Tj ET Q q 0 0 0 rg BT 273.96 743.45 Td (Company ) Tj ET Q q 0 0 0 rg BT 307.44 743.45 Td (has ) Tj ET Q q 0 0 0 rg BT 321.38 743.45 Td (deliver) Tj ET Q q 0 0 0 rg BT 343.29 743.45 Td (ed ) Tj ET Q q 0 0 0 rg BT 353.66 743.45 Td (a ) Tj ET Q q 0 0 0 rg BT 360.48 743.45 Td (written ) Tj ET Q q 0 0 0 rg BT 385.97 743.45 Td (notice ) Tj ET Q q 0 0 0 rg BT 408.34 743.45 Td (to ) Tj ET Q q 0 0 0 rg BT 417.38 743.45 Td (you ) Tj ET Q q 0 0 0 rg BT 431.76 743.45 Td (stating ) Tj ET Q q 0 0 0 rg BT 456.36 743.45 Td (that ) Tj ET Q q 0 0 0 rg BT 471.63 743.45 Td (it ) Tj ET Q q 0 0 0 rg BT 478.89 743.45 Td (intends ) Tj ET Q q 0 0 0 rg BT 504.82 743.45 Td (to ) Tj ET Q q 0 0 0 rg BT 513.87 743.45 Td (terminate ) Tj ET Q q 0 0 0 rg BT 547.35 743.45 Td (your ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 733.85 Td (employment ) Tj ET Q q 0 0 0 rg BT 125.65 733.85 Td (due ) Tj ET Q q 0 0 0 rg BT 139.20 733.85 Td (to ) Tj ET Q q 0 0 0 rg BT 147.43 733.85 Td (T) Tj ET Q q 0 0 0 rg BT 151.14 733.85 Td (ermination ) Tj ET Q q 0 0 0 rg BT 188.25 733.85 Td (for ) Tj ET Q q 0 0 0 rg BT 199.59 733.85 Td (Cause ) Tj ET Q q 0 0 0 rg BT 221.59 733.85 Td (and ) Tj ET Q q 0 0 0 rg BT 235.59 733.85 Td (specifying ) Tj ET Q q 0 0 0 rg BT 270.02 733.85 Td (the ) Tj ET Q q 0 0 0 rg BT 281.79 733.85 Td (basis ) Tj ET Q q 0 0 0 rg BT 300.24 733.85 Td (for ) Tj ET Q q 0 0 0 rg BT 311.58 733.85 Td (such ) Tj ET Q q 0 0 0 rg BT 328.24 733.85 Td (termination.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 714.65 Td (9.8) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 95.00 714.65 Td ( ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 122.00 714.65 Td (Upon ) Tj ET Q q 0 0 0 rg BT 142.12 714.65 Td (the ) Tj ET Q q 0 0 0 rg BT 154.24 714.65 Td (termination ) Tj ET Q q 0 0 0 rg BT 193.92 714.65 Td (by ) Tj ET Q q 0 0 0 rg BT 203.82 714.65 Td (whatever ) Tj ET Q q 0 0 0 rg BT 235.49 714.65 Td (means ) Tj ET Q q 0 0 0 rg BT 258.28 714.65 Td (of ) Tj ET Q q 0 0 0 rg BT 266.85 714.65 Td (this ) Tj ET Q q 0 0 0 rg BT 280.75 714.65 Td (Contract ) Tj ET Q q 0 0 0 rg BT 311.55 714.65 Td (you ) Tj ET Q q 0 0 0 rg BT 325.44 714.65 Td (shall ) Tj ET Q q 0 0 0 rg BT 343.35 714.65 Td (immediately ) Tj ET Q q 0 0 0 rg BT 384.79 714.65 Td (r) Tj ET Q q 0 0 0 rg BT 387.61 714.65 Td (eturn ) Tj ET Q q 0 0 0 rg BT 406.84 714.65 Td (to ) Tj ET Q q 0 0 0 rg BT 415.41 714.65 Td (the ) Tj ET Q q 0 0 0 rg BT 427.53 714.65 Td (Company ) Tj ET Q q 0 0 0 rg BT 460.54 714.65 Td (all ) Tj ET Q q 0 0 0 rg BT 471.33 714.65 Td (documents, ) Tj ET Q q 0 0 0 rg BT 509.90 714.65 Td (computer ) Tj ET Q q 0 0 0 rg BT 542.46 714.65 Td (media ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 705.05 Td (and ) Tj ET Q q 0 0 0 rg BT 99.52 705.05 Td (har) Tj ET Q q 0 0 0 rg BT 110.34 705.05 Td (dwar) Tj ET Q q 0 0 0 rg BT 126.49 705.05 Td (e, ) Tj ET Q q 0 0 0 rg BT 134.57 705.05 Td (cr) Tj ET Q q 0 0 0 rg BT 140.93 705.05 Td (edit ) Tj ET Q q 0 0 0 rg BT 155.45 705.05 Td (car) Tj ET Q q 0 0 0 rg BT 165.82 705.05 Td (ds, ) Tj ET Q q 0 0 0 rg BT 177.46 705.05 Td (mobile ) Tj ET Q q 0 0 0 rg BT 201.75 705.05 Td (phones ) Tj ET Q q 0 0 0 rg BT 226.94 705.05 Td (and ) Tj ET Q q 0 0 0 rg BT 241.46 705.05 Td (communication ) Tj ET Q q 0 0 0 rg BT 293.31 705.05 Td (devices, ) Tj ET Q q 0 0 0 rg BT 321.38 705.05 Td (keys ) Tj ET Q q 0 0 0 rg BT 337.66 705.05 Td (and ) Tj ET Q q 0 0 0 rg BT 352.19 705.05 Td (all ) Tj ET Q q 0 0 0 rg BT 363.16 705.05 Td (other ) Tj ET Q q 0 0 0 rg BT 382.57 705.05 Td (pr) Tj ET Q q 0 0 0 rg BT 389.38 705.05 Td (operty ) Tj ET Q q 0 0 0 rg BT 412.34 705.05 Td (belonging ) Tj ET Q q 0 0 0 rg BT 446.86 705.05 Td (to ) Tj ET Q q 0 0 0 rg BT 455.61 705.05 Td (or ) Tj ET Q q 0 0 0 rg BT 465.25 705.05 Td (r) Tj ET Q q 0 0 0 rg BT 468.06 705.05 Td (elating ) Tj ET Q q 0 0 0 rg BT 492.80 705.05 Td (to ) Tj ET Q q 0 0 0 rg BT 501.55 705.05 Td (the ) Tj ET Q q 0 0 0 rg BT 513.85 705.05 Td (business ) Tj ET Q q 0 0 0 rg BT 543.48 705.05 Td (of ) Tj ET Q q 0 0 0 rg BT 552.23 705.05 Td (the ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 695.45 Td (Company ) Tj ET Q q 0 0 0 rg BT 117.66 695.45 Td (which ) Tj ET Q q 0 0 0 rg BT 138.77 695.45 Td (is ) Tj ET Q q 0 0 0 rg BT 146.11 695.45 Td (in ) Tj ET Q q 0 0 0 rg BT 154.33 695.45 Td (your ) Tj ET Q q 0 0 0 rg BT 171.00 695.45 Td (possession ) Tj ET Q q 0 0 0 rg BT 207.22 695.45 Td (or ) Tj ET Q q 0 0 0 rg BT 216.34 695.45 Td (under ) Tj ET Q q 0 0 0 rg BT 237.00 695.45 Td (your ) Tj ET Q q 0 0 0 rg BT 253.66 695.45 Td (power ) Tj ET Q q 0 0 0 rg BT 275.66 695.45 Td (or ) Tj ET Q q 0 0 0 rg BT 284.78 695.45 Td (contr) Tj ET Q q 0 0 0 rg BT 301.37 695.45 Td (ol ) Tj ET Q q 0 0 0 rg BT 309.59 695.45 Td (and ) Tj ET Q q 0 0 0 rg BT 323.59 695.45 Td (you ) Tj ET Q q 0 0 0 rg BT 337.14 695.45 Td (must ) Tj ET Q q 0 0 0 rg BT 354.25 695.45 Td (not ) Tj ET Q q 0 0 0 rg BT 366.48 695.45 Td (r) Tj ET Q q 0 0 0 rg BT 369.29 695.45 Td (etain ) Tj ET Q q 0 0 0 rg BT 387.29 695.45 Td (copies ) Tj ET Q q 0 0 0 rg BT 409.73 695.45 Td (of ) Tj ET Q q 0 0 0 rg BT 417.95 695.45 Td (any ) Tj ET Q q 0 0 0 rg BT 431.50 695.45 Td (of ) Tj ET Q q 0 0 0 rg BT 439.72 695.45 Td (the ) Tj ET Q q 0 0 0 rg BT 451.50 695.45 Td (above.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 666.25 Td (All ) Tj ET Q q 0 0 0 rg BT 62.22 666.25 Td (other ) Tj ET Q q 0 0 0 rg BT 80.66 666.25 Td (terms ) Tj ET Q q 0 0 0 rg BT 100.43 666.25 Td (of ) Tj ET Q q 0 0 0 rg BT 109.10 666.25 Td (the ) Tj ET Q q 0 0 0 rg BT 120.87 666.25 Td (Contract ) Tj ET Q q 0 0 0 rg BT 150.42 666.25 Td (shall ) Tj ET Q q 0 0 0 rg BT 167.53 666.25 Td (remain ) Tj ET Q q 0 0 0 rg BT 191.74 666.25 Td (the ) Tj ET Q q 0 0 0 rg BT 203.51 666.25 Td (same.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 646.65 Td (Please ) Tj ET Q q 0 0 0 rg BT 72.44 646.65 Td (countersign ) Tj ET Q q 0 0 0 rg BT 111.76 646.65 Td (this ) Tj ET Q q 0 0 0 rg BT 125.32 646.65 Td (letter ) Tj ET Q q 0 0 0 rg BT 143.75 646.65 Td (in ) Tj ET Q q 0 0 0 rg BT 151.98 646.65 Td (agreement ) Tj ET Q q 0 0 0 rg BT 187.29 646.65 Td (and ) Tj ET Q q 0 0 0 rg BT 200.84 646.65 Td (acknowledgment ) Tj ET Q q 0 0 0 rg BT 257.49 646.65 Td (of ) Tj ET Q q 0 0 0 rg BT 266.15 646.65 Td (the ) Tj ET Q q 0 0 0 rg BT 277.93 646.65 Td (above.) 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Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 528.50 Td (W) Tj ET Q q 0 0 0 rg BT 56.91 528.50 Td (e ) Tj ET Q q 0 0 0 rg BT 62.46 528.50 Td (refer ) Tj ET Q q 0 0 0 rg BT 79.55 528.50 Td (to ) Tj ET Q q 0 0 0 rg BT 87.78 528.50 Td (the ) Tj ET Q q 0 0 0 rg BT 99.55 528.50 Td (Contract. ) Tj ET Q q 0 0 0 rg BT 131.10 528.50 Td ( ) Tj ET Q q 0 0 0 rg BT 133.10 528.50 Td (Capitalised ) Tj ET Q q 0 0 0 rg BT 171.09 528.50 Td (terms ) Tj ET Q q 0 0 0 rg BT 190.86 528.50 Td (used ) Tj ET Q q 0 0 0 rg BT 207.53 528.50 Td (herein ) Tj ET Q q 0 0 0 rg BT 229.52 528.50 Td (and ) Tj ET Q q 0 0 0 rg BT 243.07 528.50 Td (not ) Tj ET Q q 0 0 0 rg BT 255.29 528.50 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 288.39 528.50 Td (defined ) Tj ET Q q 0 0 0 rg BT 314.38 528.50 Td (shall ) Tj ET Q q 0 0 0 rg BT 331.49 528.50 Td (have ) Tj ET Q q 0 0 0 rg BT 348.59 528.50 Td (the ) Tj ET Q q 0 0 0 rg BT 360.36 528.50 Td (meanings ) Tj ET Q q 0 0 0 rg BT 393.02 528.50 Td (ascribed ) Tj ET Q q 0 0 0 rg BT 421.68 528.50 Td (to ) Tj ET Q q 0 0 0 rg BT 429.90 528.50 Td (them ) Tj ET Q q 0 0 0 rg BT 447.89 528.50 Td (in ) Tj ET Q q 0 0 0 rg BT 456.12 528.50 Td (the ) Tj ET Q q 0 0 0 rg BT 467.89 528.50 Td (Contract. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 506.90 Td (The ) Tj ET Q q 0 0 0 rg BT 64.44 506.90 Td (parties ) Tj ET Q q 0 0 0 rg BT 87.76 506.90 Td (hereby ) Tj ET Q q 0 0 0 rg BT 111.53 506.90 Td (agree ) Tj ET Q q 0 0 0 rg BT 130.84 506.90 Td (to ) Tj ET Q q 0 0 0 rg BT 139.07 506.90 Td (the ) Tj ET Q q 0 0 0 rg BT 150.84 506.90 Td (following ) Tj ET Q q 0 0 0 rg BT 183.95 506.90 Td (amendments ) Tj ET Q q 0 0 0 rg BT 226.38 506.90 Td (to ) Tj ET Q q 0 0 0 rg BT 234.61 506.90 Td (the ) Tj ET Q q 0 0 0 rg BT 246.38 506.90 Td (Contract:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 56.00 482.90 Td (I. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.00 482.90 Td (Clause ) Tj ET Q q 0 0 0 rg BT 108.77 482.90 Td (4.2 ) Tj ET Q q 0 0 0 rg BT 120.77 482.90 Td (of ) Tj ET Q q 0 0 0 rg BT 129.44 482.90 Td (the ) Tj ET Q q 0 0 0 rg BT 141.21 482.90 Td (Contract ) Tj ET Q q 0 0 0 rg BT 170.76 482.90 Td (shall ) Tj ET Q q 0 0 0 rg BT 187.87 482.90 Td (be ) Tj ET Q q 0 0 0 rg BT 197.42 482.90 Td (amended ) Tj ET Q q 0 0 0 rg BT 228.29 482.90 Td (by ) Tj ET Q q 0 0 0 rg BT 238.29 482.90 Td (inserting ) Tj ET Q q 0 0 0 rg BT 268.29 482.90 Td (the ) Tj ET Q q 0 0 0 rg BT 280.06 482.90 Td (words ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 301.62 482.90 Td (\() Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 308.73 482.90 Td (T) Tj ET Q q 0 0 0 rg BT 312.88 482.90 Td (arget ) Tj ET Q q 0 0 0 rg BT 331.77 482.90 Td (Bonus\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 355.78 482.90 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 360.23 482.90 Td ( ) Tj ET Q q 0 0 0 rg BT 362.23 482.90 Td (at ) Tj ET Q q 0 0 0 rg BT 370.00 482.90 Td (the ) Tj ET Q q 0 0 0 rg BT 381.78 482.90 Td (end ) Tj ET Q q 0 0 0 rg BT 395.33 482.90 Td (of ) Tj ET Q q 0 0 0 rg BT 403.99 482.90 Td (the ) Tj ET Q q 0 0 0 rg BT 415.77 482.90 Td (last ) Tj ET Q q 0 0 0 rg BT 428.88 482.90 Td (sentence ) Tj ET Q q 0 0 0 rg BT 458.41 482.90 Td (of ) Tj ET Q q 0 0 0 rg BT 467.08 482.90 Td (such ) Tj ET Q q 0 0 0 rg BT 483.74 482.90 Td (Clause ) Tj ET Q q 0 0 0 rg BT 507.52 482.90 Td (4.2.) 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Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 379.70 Td (9.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 379.70 Td ( ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 122.00 379.70 Td (In ) Tj ET Q q 0 0 0 rg BT 130.21 379.70 Td (the ) Tj ET Q q 0 0 0 rg BT 141.52 379.70 Td (event ) Tj ET Q q 0 0 0 rg BT 159.94 379.70 Td (you ) Tj ET Q q 0 0 0 rg BT 173.03 379.70 Td (give ) Tj ET Q q 0 0 0 rg BT 187.89 379.70 Td (notice ) Tj ET Q q 0 0 0 rg BT 208.98 379.70 Td (of ) Tj ET Q q 0 0 0 rg BT 216.74 379.70 Td (termination ) Tj ET Q q 0 0 0 rg BT 255.62 379.70 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 285.61 379.70 Td (to ) Tj ET Q q 0 0 0 rg BT 293.37 379.70 Td (clause ) Tj ET Q q 0 0 0 rg BT 315.35 379.70 Td (9.1, ) Tj ET Q q 0 0 0 rg BT 328.89 379.70 Td (the ) Tj ET Q q 0 0 0 rg BT 340.21 379.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 372.41 379.70 Td (may ) Tj ET Q q 0 0 0 rg BT 387.28 379.70 Td (in ) Tj ET Q q 0 0 0 rg BT 395.04 379.70 Td (its ) Tj ET Q q 0 0 0 rg BT 404.14 379.70 Td (sole ) Tj ET Q q 0 0 0 rg BT 418.57 379.70 Td (discr) Tj ET Q q 0 0 0 rg BT 434.27 379.70 Td (etion ) Tj ET Q q 0 0 0 rg BT 451.81 379.70 Td (determine ) Tj ET Q q 0 0 0 rg BT 485.34 379.70 Td (that ) Tj ET Q q 0 0 0 rg BT 499.33 379.70 Td (you ) Tj ET Q q 0 0 0 rg BT 512.42 379.70 Td (will ) Tj ET Q q 0 0 0 rg BT 525.96 379.70 Td (be ) Tj ET Q q 0 0 0 rg BT 535.05 379.70 Td (r) Tj ET Q q 0 0 0 rg BT 537.87 379.70 Td (equir) Tj ET Q q 0 0 0 rg BT 554.46 379.70 Td (ed ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 370.10 Td (to ) Tj ET Q q 0 0 0 rg BT 93.35 370.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 123.03 370.10 Td (to ) Tj ET Q q 0 0 0 rg BT 131.38 370.10 Td (pr) Tj ET Q q 0 0 0 rg BT 138.19 370.10 Td (ovide ) Tj ET Q q 0 0 0 rg BT 157.64 370.10 Td (services ) Tj ET Q q 0 0 0 rg BT 185.54 370.10 Td (to ) Tj ET Q q 0 0 0 rg BT 193.89 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 205.79 370.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 238.58 370.10 Td (as ) Tj ET Q q 0 0 0 rg BT 247.82 370.10 Td (a ) Tj ET Q q 0 0 0 rg BT 253.95 370.10 Td (full-time ) Tj ET Q q 0 0 0 rg BT 283.18 370.10 Td (employee ) Tj ET Q q 0 0 0 rg BT 315.52 370.10 Td (during ) Tj ET Q q 0 0 0 rg BT 338.98 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 350.88 370.10 Td (full ) Tj ET Q q 0 0 0 rg BT 363.68 370.10 Td (twelve-month ) Tj ET Q q 0 0 0 rg BT 408.90 370.10 Td (notice ) Tj ET Q q 0 0 0 rg BT 430.58 370.10 Td (period ) Tj ET Q q 0 0 0 rg BT 453.59 370.10 Td (or ) Tj ET Q q 0 0 0 rg BT 462.83 370.10 Td (during ) Tj ET Q q 0 0 0 rg BT 486.30 370.10 Td (a ) Tj ET Q q 0 0 0 rg BT 492.42 370.10 Td (specified ) Tj ET Q q 0 0 0 rg BT 522.99 370.10 Td (time ) Tj ET Q q 0 0 0 rg BT 538.89 370.10 Td (shorter ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 360.50 Td (than ) Tj ET Q q 0 0 0 rg BT 101.69 360.50 Td (such ) Tj ET Q q 0 0 0 rg BT 118.82 360.50 Td (twelve-month ) Tj ET Q q 0 0 0 rg BT 164.39 360.50 Td (period. ) Tj ET Q q 0 0 0 rg BT 189.74 360.50 Td (Y) Tj ET Q q 0 0 0 rg BT 193.46 360.50 Td (ou ) Tj ET Q q 0 0 0 rg BT 203.92 360.50 Td (will ) Tj ET Q q 0 0 0 rg BT 218.40 360.50 Td (continue ) Tj ET Q q 0 0 0 rg BT 248.41 360.50 Td (to ) Tj ET Q q 0 0 0 rg BT 257.10 360.50 Td (r) Tj ET Q q 0 0 0 rg BT 259.92 360.50 Td (eceive ) Tj ET Q q 0 0 0 rg BT 282.36 360.50 Td (your ) Tj ET Q q 0 0 0 rg BT 299.49 360.50 Td (basic ) Tj ET Q q 0 0 0 rg BT 318.85 360.50 Td (salary ) Tj ET Q q 0 0 0 rg BT 341.32 360.50 Td (and ) Tj ET Q q 0 0 0 rg BT 355.78 360.50 Td (other ) Tj ET Q q 0 0 0 rg BT 375.14 360.50 Td (entitlements ) Tj ET Q q 0 0 0 rg BT 416.26 360.50 Td (her) Tj ET Q q 0 0 0 rg BT 426.63 360.50 Td (eunder ) Tj ET Q q 0 0 0 rg BT 451.31 360.50 Td (during ) Tj ET Q q 0 0 0 rg BT 475.12 360.50 Td (the ) Tj ET Q q 0 0 0 rg BT 487.36 360.50 Td (period ) Tj ET Q q 0 0 0 rg BT 510.71 360.50 Td (that ) Tj ET Q q 0 0 0 rg BT 525.63 360.50 Td (you ) Tj ET Q q 0 0 0 rg BT 539.64 360.50 Td (r) Tj ET Q q 0 0 0 rg BT 542.46 360.50 Td (emain ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 350.90 Td (employed ) Tj ET Q q 0 0 0 rg BT 117.57 350.90 Td (by ) Tj ET Q q 0 0 0 rg BT 127.03 350.90 Td (the ) Tj ET Q q 0 0 0 rg BT 138.72 350.90 Td (Company) Tj ET Q q 0 0 0 rg BT 168.94 350.90 Td (. ) Tj ET Q q 0 0 0 rg BT 172.86 350.90 Td ( ) Tj ET Q q 0 0 0 rg BT 174.77 350.90 Td (Upon ) Tj ET Q q 0 0 0 rg BT 194.46 350.90 Td (termination ) Tj ET Q q 0 0 0 rg BT 233.71 350.90 Td (of ) Tj ET Q q 0 0 0 rg BT 241.84 350.90 Td (your ) Tj ET Q q 0 0 0 rg BT 258.42 350.90 Td (employment ) Tj ET Q q 0 0 0 rg BT 298.99 350.90 Td (with ) Tj ET Q q 0 0 0 rg BT 314.68 350.90 Td (the ) Tj ET Q q 0 0 0 rg BT 326.37 350.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 358.95 350.90 Td (following ) Tj ET Q q 0 0 0 rg BT 391.09 350.90 Td (expiration ) Tj ET Q q 0 0 0 rg BT 425.89 350.90 Td (of ) Tj ET Q q 0 0 0 rg BT 434.02 350.90 Td (the ) Tj ET Q q 0 0 0 rg BT 445.71 350.90 Td (twelve-month ) Tj ET Q q 0 0 0 rg BT 490.72 350.90 Td (notice ) Tj ET Q q 0 0 0 rg BT 512.18 350.90 Td (period, ) Tj ET Q q 0 0 0 rg BT 536.98 350.90 Td (or ) Tj ET Q q 0 0 0 rg BT 546.01 350.90 Td (upon ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 341.30 Td (such ) Tj ET Q q 0 0 0 rg BT 101.98 341.30 Td (termination ) Tj ET Q q 0 0 0 rg BT 141.63 341.30 Td (after ) Tj ET Q q 0 0 0 rg BT 159.05 341.30 Td (you ) Tj ET Q q 0 0 0 rg BT 172.92 341.30 Td (have ) Tj ET Q q 0 0 0 rg BT 190.34 341.30 Td (satisfied ) Tj ET Q q 0 0 0 rg BT 219.32 341.30 Td (any ) Tj ET Q q 0 0 0 rg BT 233.19 341.30 Td (shorter ) Tj ET Q q 0 0 0 rg BT 258.62 341.30 Td (period ) Tj ET Q q 0 0 0 rg BT 281.82 341.30 Td (of ) Tj ET Q q 0 0 0 rg BT 290.36 341.30 Td (continued ) Tj ET Q q 0 0 0 rg BT 324.23 341.30 Td (employment ) Tj ET Q q 0 0 0 rg BT 365.20 341.30 Td (determined ) Tj ET Q q 0 0 0 rg BT 403.50 341.30 Td (by ) Tj ET Q q 0 0 0 rg BT 413.37 341.30 Td (the ) Tj ET Q q 0 0 0 rg BT 425.46 341.30 Td (Company) Tj ET Q q 0 0 0 rg BT 455.68 341.30 Td (, ) Tj ET Q q 0 0 0 rg BT 460.00 341.30 Td (you ) Tj ET Q q 0 0 0 rg BT 473.86 341.30 Td (will ) Tj ET Q q 0 0 0 rg BT 488.18 341.30 Td (be ) Tj ET Q q 0 0 0 rg BT 498.05 341.30 Td (entitled ) Tj ET Q q 0 0 0 rg BT 524.36 341.30 Td (to ) Tj ET Q q 0 0 0 rg BT 532.90 341.30 Td (r) Tj ET Q q 0 0 0 rg BT 535.71 341.30 Td (eceive ) Tj ET Q q 0 0 0 rg BT 558.01 341.30 Td (a ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 331.70 Td (lump ) Tj ET Q q 0 0 0 rg BT 102.95 331.70 Td (sum ) Tj ET Q q 0 0 0 rg BT 117.80 331.70 Td (amount ) Tj ET Q q 0 0 0 rg BT 143.75 331.70 Td (as ) Tj ET Q q 0 0 0 rg BT 152.82 331.70 Td (severance, ) Tj ET Q q 0 0 0 rg BT 188.75 331.70 Td (within ) Tj ET Q q 0 0 0 rg BT 210.71 331.70 Td (thirty ) Tj ET Q q 0 0 0 rg BT 229.99 331.70 Td (days ) Tj ET Q q 0 0 0 rg BT 246.61 331.70 Td (following ) Tj ET Q q 0 0 0 rg BT 278.79 331.70 Td (the ) Tj ET Q q 0 0 0 rg BT 290.52 331.70 Td (effective ) Tj ET Q q 0 0 0 rg BT 319.11 331.70 Td (date ) Tj ET Q q 0 0 0 rg BT 334.84 331.70 Td (of ) Tj ET Q q 0 0 0 rg BT 343.02 331.70 Td (your ) Tj ET Q q 0 0 0 rg BT 359.63 331.70 Td (termination ) Tj ET Q q 0 0 0 rg BT 398.92 331.70 Td (of ) Tj ET Q q 0 0 0 rg BT 407.09 331.70 Td (employment, ) Tj ET Q q 0 0 0 rg BT 449.70 331.70 Td (in ) Tj ET Q q 0 0 0 rg BT 457.88 331.70 Td (an ) Tj ET Q q 0 0 0 rg BT 467.83 331.70 Td (amount ) Tj ET Q q 0 0 0 rg BT 493.78 331.70 Td (equal ) Tj ET Q q 0 0 0 rg BT 513.51 331.70 Td (to ) Tj ET Q q 0 0 0 rg BT 521.68 331.70 Td (the ) Tj ET Q q 0 0 0 rg BT 533.41 331.70 Td (excess ) Tj ET Q q 0 0 0 rg BT 555.79 331.70 Td (of ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 322.10 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 94.47 322.10 Td (your ) Tj ET Q q 0 0 0 rg BT 111.06 322.10 Td (basic ) Tj ET Q q 0 0 0 rg BT 129.87 322.10 Td (salary ) Tj ET Q q 0 0 0 rg BT 151.80 322.10 Td (for ) Tj ET Q q 0 0 0 rg BT 163.06 322.10 Td (a ) Tj ET Q q 0 0 0 rg BT 168.98 322.10 Td (period ) Tj ET Q q 0 0 0 rg BT 191.79 322.10 Td (of ) Tj ET Q q 0 0 0 rg BT 199.94 322.10 Td (twelve ) Tj ET Q q 0 0 0 rg BT 222.29 322.10 Td (months, ) Tj ET Q q 0 0 0 rg BT 249.33 322.10 Td (minus ) Tj ET Q q 0 0 0 rg BT 270.37 322.10 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 282.07 322.10 Td (the ) Tj ET Q q 0 0 0 rg BT 293.76 322.10 Td (portion, ) Tj ET Q q 0 0 0 rg BT 321.25 322.10 Td (if ) Tj ET Q q 0 0 0 rg BT 327.62 322.10 Td (any) Tj ET Q q 0 0 0 rg BT 338.72 322.10 Td (, ) Tj ET Q q 0 0 0 rg BT 342.65 322.10 Td (of ) Tj ET Q q 0 0 0 rg BT 350.79 322.10 Td (your ) Tj ET Q q 0 0 0 rg BT 367.38 322.10 Td (basic ) Tj ET Q q 0 0 0 rg BT 386.19 322.10 Td (salary ) Tj ET Q q 0 0 0 rg BT 408.12 322.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 424.26 322.10 Td (while ) Tj ET Q q 0 0 0 rg BT 443.52 322.10 Td (you ) Tj ET Q q 0 0 0 rg BT 456.99 322.10 Td (performed ) Tj ET Q q 0 0 0 rg BT 492.25 322.10 Td (services ) Tj ET Q q 0 0 0 rg BT 519.94 322.10 Td (as ) Tj ET Q q 0 0 0 rg BT 528.97 322.10 Td (a ) Tj ET Q q 0 0 0 rg BT 534.90 322.10 Td (full-time ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 312.50 Td (employee ) Tj ET Q q 0 0 0 rg BT 116.76 312.50 Td (during ) Tj ET Q q 0 0 0 rg BT 139.66 312.50 Td (the ) Tj ET Q q 0 0 0 rg BT 150.99 312.50 Td (twelve-month ) Tj ET Q q 0 0 0 rg BT 195.65 312.50 Td (notice ) Tj ET Q q 0 0 0 rg BT 216.75 312.50 Td (period ) Tj ET Q q 0 0 0 rg BT 239.20 312.50 Td (\(with ) Tj ET Q q 0 0 0 rg BT 257.21 312.50 Td (your ) Tj ET Q q 0 0 0 rg BT 273.43 312.50 Td (basic ) Tj ET Q q 0 0 0 rg BT 291.88 312.50 Td (salary ) Tj ET Q q 0 0 0 rg BT 313.44 312.50 Td (computed ) Tj ET Q q 0 0 0 rg BT 346.10 312.50 Td (at ) Tj ET Q q 0 0 0 rg BT 353.88 312.50 Td (the ) Tj ET Q q 0 0 0 rg BT 365.21 312.50 Td (rate ) Tj ET Q q 0 0 0 rg BT 379.66 312.50 Td (payable ) Tj ET Q q 0 0 0 rg BT 406.54 312.50 Td (immediately ) Tj ET Q q 0 0 0 rg BT 447.20 312.50 Td (prior ) Tj ET Q q 0 0 0 rg BT 465.21 312.50 Td (to ) Tj ET Q q 0 0 0 rg BT 472.99 312.50 Td (the ) Tj ET Q q 0 0 0 rg BT 484.32 312.50 Td (date ) Tj ET Q q 0 0 0 rg BT 499.66 312.50 Td (you ) Tj ET Q q 0 0 0 rg BT 512.77 312.50 Td (pr) Tj ET Q q 0 0 0 rg BT 519.58 312.50 Td (ovided ) Tj ET Q q 0 0 0 rg BT 542.47 312.50 Td (notice ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 302.90 Td (to ) Tj ET Q q 0 0 0 rg BT 93.02 302.90 Td (the ) Tj ET Q q 0 0 0 rg BT 104.59 302.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 137.06 302.90 Td (of ) Tj ET Q q 0 0 0 rg BT 145.08 302.90 Td (your ) Tj ET Q q 0 0 0 rg BT 161.54 302.90 Td (termination ) Tj ET Q q 0 0 0 rg BT 200.67 302.90 Td (of ) Tj ET Q q 0 0 0 rg BT 208.69 302.90 Td (employment\). ) Tj ET Q q 0 0 0 rg BT 253.81 302.90 Td ( ) Tj ET Q q 0 0 0 rg BT 255.61 302.90 Td (Upon ) Tj ET Q q 0 0 0 rg BT 275.18 302.90 Td (your ) Tj ET Q q 0 0 0 rg BT 291.65 302.90 Td (termination ) Tj ET Q q 0 0 0 rg BT 330.78 302.90 Td (of ) Tj ET Q q 0 0 0 rg BT 338.80 302.90 Td (employment ) Tj ET Q q 0 0 0 rg BT 379.25 302.90 Td (with ) Tj ET Q q 0 0 0 rg BT 394.83 302.90 Td (the ) Tj ET Q q 0 0 0 rg BT 406.40 302.90 Td (Company) Tj ET Q q 0 0 0 rg BT 436.63 302.90 Td (, ) Tj ET Q q 0 0 0 rg BT 440.42 302.90 Td (you ) Tj ET Q q 0 0 0 rg BT 453.77 302.90 Td (will ) Tj ET Q q 0 0 0 rg BT 467.58 302.90 Td (also ) Tj ET Q q 0 0 0 rg BT 482.71 302.90 Td (be ) Tj ET Q q 0 0 0 rg BT 492.06 302.90 Td (entitled ) Tj ET Q q 0 0 0 rg BT 517.85 302.90 Td (to ) Tj ET Q q 0 0 0 rg BT 525.87 302.90 Td (r) Tj ET Q q 0 0 0 rg BT 528.69 302.90 Td (eceive ) Tj ET Q q 0 0 0 rg BT 550.46 302.90 Td (any ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 293.30 Td (earned ) Tj ET Q q 0 0 0 rg BT 109.29 293.30 Td (but ) Tj ET Q q 0 0 0 rg BT 121.58 293.30 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 145.88 293.30 Td (bonus ) Tj ET Q q 0 0 0 rg BT 167.07 293.30 Td (awar) Tj ET Q q 0 0 0 rg BT 183.22 293.30 Td (ded ) Tj ET Q q 0 0 0 rg BT 196.84 293.30 Td (in ) Tj ET Q q 0 0 0 rg BT 205.14 293.30 Td (accor) Tj ET Q q 0 0 0 rg BT 223.06 293.30 Td (dance ) Tj ET Q q 0 0 0 rg BT 244.23 293.30 Td (with ) Tj ET Q q 0 0 0 rg BT 260.09 293.30 Td (clause ) Tj ET Q q 0 0 0 rg BT 282.60 293.30 Td (4.2 ) Tj ET Q q 0 0 0 rg BT 294.67 293.30 Td (her) Tj ET Q q 0 0 0 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(described ) Tj ET Q q 0 0 0 rg BT 457.67 274.10 Td (in ) Tj ET Q q 0 0 0 rg BT 465.89 274.10 Td (this ) Tj ET Q q 0 0 0 rg BT 479.45 274.10 Td (clause ) Tj ET Q q 0 0 0 rg BT 501.89 274.10 Td (9.2.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 250.10 Td (9.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 250.10 Td ( ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 122.00 250.10 Td (If ) Tj ET Q q 0 0 0 rg BT 128.60 250.10 Td (the ) Tj ET Q q 0 0 0 rg BT 140.09 250.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 172.47 250.10 Td (delivers ) Tj ET Q q 0 0 0 rg BT 199.50 250.10 Td (notice ) Tj ET Q q 0 0 0 rg BT 220.76 250.10 Td (of ) Tj ET Q q 0 0 0 rg BT 228.70 250.10 Td (termination ) Tj ET Q q 0 0 0 rg BT 267.75 250.10 Td (without ) Tj ET Q q 0 0 0 rg BT 293.46 250.10 Td (cause ) Tj ET Q q 0 0 0 rg BT 313.39 250.10 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 343.56 250.10 Td (to ) Tj ET Q q 0 0 0 rg BT 351.49 250.10 Td (clause ) Tj ET Q q 0 0 0 rg BT 373.64 250.10 Td (9.1, ) Tj ET Q q 0 0 0 rg BT 387.36 250.10 Td (this ) Tj ET Q q 0 0 0 rg BT 400.63 250.10 Td (Contract ) Tj ET Q q 0 0 0 rg BT 430.79 250.10 Td (shall ) Tj ET Q q 0 0 0 rg BT 448.06 250.10 Td (terminate ) Tj ET Q q 0 0 0 rg BT 480.44 250.10 Td (with ) Tj ET Q q 0 0 0 rg BT 495.93 250.10 Td (immediate ) Tj ET Q q 0 0 0 rg BT 530.97 250.10 Td (effect ) Tj ET Q q 0 0 0 rg BT 550.00 250.10 Td (and ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 240.50 Td (the ) Tj ET Q q 0 0 0 rg BT 96.77 240.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 129.44 240.50 Td (shall ) Tj ET Q q 0 0 0 rg BT 147.00 240.50 Td (make ) Tj ET Q q 0 0 0 rg BT 165.88 240.50 Td (payment ) Tj ET Q q 0 0 0 rg BT 194.98 240.50 Td (in ) Tj ET Q q 0 0 0 rg BT 203.20 240.50 Td (lieu ) Tj ET Q q 0 0 0 rg BT 217.20 240.50 Td (of ) Tj ET Q q 0 0 0 rg BT 225.42 240.50 Td (notice ) Tj ET Q q 0 0 0 rg BT 246.96 240.50 Td (as ) Tj ET Q q 0 0 0 rg BT 256.08 240.50 Td (pr) Tj ET Q q 0 0 0 rg BT 262.89 240.50 Td (ovided ) Tj ET Q q 0 0 0 rg BT 286.22 240.50 Td (in ) Tj ET Q q 0 0 0 rg BT 294.44 240.50 Td (clause ) Tj ET Q q 0 0 0 rg BT 316.88 240.50 Td (9.5.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 216.50 Td (9.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 216.50 Td ( ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 122.00 216.50 Td (Y) Tj ET Q q 0 0 0 rg BT 125.71 216.50 Td (ou ) Tj ET Q q 0 0 0 rg BT 136.21 216.50 Td (may ) Tj ET Q q 0 0 0 rg BT 152.03 216.50 Td (terminate ) Tj ET Q q 0 0 0 rg BT 185.18 216.50 Td (this ) Tj ET Q q 0 0 0 rg BT 199.23 216.50 Td (Contract, ) Tj ET Q q 0 0 0 rg BT 232.17 216.50 Td (unless ) Tj ET Q q 0 0 0 rg BT 254.66 216.50 Td (it ) Tj ET Q q 0 0 0 rg BT 261.60 216.50 Td (has ) Tj ET Q q 0 0 0 rg BT 275.20 216.50 Td (been ) Tj ET Q q 0 0 0 rg BT 292.80 216.50 Td (pr) Tj ET Q q 0 0 0 rg BT 299.61 216.50 Td (eviously ) Tj ET Q q 0 0 0 rg BT 328.32 216.50 Td (terminated ) Tj ET Q q 0 0 0 rg BT 365.47 216.50 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 396.41 216.50 Td (to ) Tj ET Q q 0 0 0 rg BT 405.13 216.50 Td (any ) Tj ET Q q 0 0 0 rg BT 419.17 216.50 Td (other ) Tj ET Q q 0 0 0 rg BT 438.55 216.50 Td (pr) Tj ET 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0 0 rg BT 273.27 206.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 305.94 206.90 Td (shall ) Tj ET Q q 0 0 0 rg BT 323.51 206.90 Td (include, ) Tj ET Q q 0 0 0 rg BT 351.06 206.90 Td (but ) Tj ET Q q 0 0 0 rg BT 363.29 206.90 Td (not ) Tj ET Q q 0 0 0 rg BT 375.52 206.90 Td (be ) Tj ET Q q 0 0 0 rg BT 385.08 206.90 Td (limited ) Tj ET Q q 0 0 0 rg BT 409.30 206.90 Td (to, ) Tj ET Q q 0 0 0 rg BT 419.53 206.90 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 429.09 206.90 Td (the ) Tj ET Q q 0 0 0 rg BT 440.87 206.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 473.54 206.90 Td (violating ) Tj ET Q q 0 0 0 rg BT 503.99 206.90 Td (clause ) Tj ET Q q 0 0 0 rg BT 526.43 206.90 Td (2 ) Tj ET Q q 0 0 0 rg BT 532.44 206.90 Td (or ) Tj ET Q q 0 0 0 rg BT 541.56 206.90 Td (clause ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 197.30 Td (3 ) Tj ET Q q 0 0 0 rg BT 90.99 197.30 Td (of ) Tj ET Q q 0 0 0 rg BT 99.21 197.30 Td (this ) Tj ET Q q 0 0 0 rg BT 112.76 197.30 Td (Contract ) Tj ET Q q 0 0 0 rg BT 143.20 197.30 Td (with 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(to ) Tj ET Q q 0 0 0 rg BT 530.24 197.30 Td (cause ) Tj ET Q q 0 0 0 rg BT 550.45 197.30 Td (any ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 187.70 Td (successor ) Tj ET Q q 0 0 0 rg BT 117.98 187.70 Td (to ) Tj ET Q q 0 0 0 rg BT 126.08 187.70 Td (all ) Tj ET Q q 0 0 0 rg BT 136.40 187.70 Td (or ) Tj ET Q q 0 0 0 rg BT 145.39 187.70 Td (substantially ) Tj ET Q q 0 0 0 rg BT 188.15 187.70 Td (all ) Tj ET Q q 0 0 0 rg BT 198.47 187.70 Td (of ) Tj ET Q q 0 0 0 rg BT 206.57 187.70 Td (the ) Tj ET Q q 0 0 0 rg BT 218.22 187.70 Td (business ) Tj ET Q q 0 0 0 rg BT 247.21 187.70 Td (and ) Tj ET Q q 0 0 0 rg BT 261.08 187.70 Td (assets ) Tj ET Q q 0 0 0 rg BT 282.07 187.70 Td (of ) Tj ET Q q 0 0 0 rg BT 290.17 187.70 Td (the ) Tj ET Q q 0 0 0 rg BT 301.82 187.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 334.36 187.70 Td (or ) Tj ET Q q 0 0 0 rg BT 343.34 187.70 Td (CME ) Tj ET Q q 0 0 0 rg BT 362.11 187.70 Td (Ltd. ) Tj ET Q q 0 0 0 rg BT 376.65 187.70 Td (expr) Tj ET Q q 0 0 0 rg BT 390.57 187.70 Td (essly ) Tj ET Q q 0 0 0 rg BT 408.00 187.70 Td (to ) Tj ET Q q 0 0 0 rg BT 416.09 187.70 Td (assume ) Tj ET Q q 0 0 0 rg BT 441.52 187.70 Td (the ) Tj ET Q q 0 0 0 rg BT 453.17 187.70 Td (obligations ) Tj ET Q q 0 0 0 rg BT 491.05 187.70 Td (of ) Tj ET Q q 0 0 0 rg BT 499.15 187.70 Td (the ) Tj ET Q q 0 0 0 rg BT 510.80 187.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 543.34 187.70 Td (under ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 178.10 Td (this ) Tj ET Q q 0 0 0 rg BT 97.79 178.10 Td (Contract ) Tj ET Q q 0 0 0 rg BT 127.47 178.10 Td (\(including ) Tj ET Q q 0 0 0 rg BT 161.58 178.10 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 191.26 178.10 Td (to ) Tj ET Q q 0 0 0 rg BT 198.72 178.10 Td (this ) Tj ET Q q 0 0 0 rg BT 211.51 178.10 Td (clause ) Tj ET Q q 0 0 0 rg BT 233.17 178.10 Td (9.4\). ) Tj ET Q q 0 0 0 rg BT 249.07 178.10 Td (Such ) Tj ET Q q 0 0 0 rg BT 265.85 178.10 Td (right ) Tj ET Q q 0 0 0 rg BT 282.64 178.10 Td (shall ) Tj ET Q q 0 0 0 rg BT 299.43 178.10 Td (be ) 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168.50 Td (after ) Tj ET Q q 0 0 0 rg BT 201.89 168.50 Td (giving ) Tj ET Q q 0 0 0 rg BT 223.86 168.50 Td (such ) Tj ET Q q 0 0 0 rg BT 240.50 168.50 Td (notice; ) Tj ET Q q 0 0 0 rg BT 264.69 168.50 Td (pr) Tj ET Q q 0 0 0 rg BT 271.50 168.50 Td (ovided, ) Tj ET Q q 0 0 0 rg BT 296.80 168.50 Td (that ) Tj ET Q q 0 0 0 rg BT 311.22 168.50 Td (such ) Tj ET Q q 0 0 0 rg BT 327.86 168.50 Td (notice ) Tj ET Q q 0 0 0 rg BT 349.38 168.50 Td (is ) Tj ET Q q 0 0 0 rg BT 356.69 168.50 Td (deliver) Tj ET Q q 0 0 0 rg BT 378.60 168.50 Td (ed ) Tj ET Q q 0 0 0 rg BT 388.13 168.50 Td (to ) Tj ET Q q 0 0 0 rg BT 396.32 168.50 Td (the ) Tj ET Q q 0 0 0 rg BT 408.07 168.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 440.71 168.50 Td (within ) Tj ET Q q 0 0 0 rg BT 462.68 168.50 Td (90 ) Tj ET Q q 0 0 0 rg BT 472.66 168.50 Td (days ) Tj ET Q q 0 0 0 rg BT 489.29 168.50 Td (after ) Tj ET Q q 0 0 0 rg BT 506.38 168.50 Td (the ) Tj ET Q q 0 0 0 rg BT 518.13 168.50 Td (occurr) Tj ET Q q 0 0 0 rg BT 539.16 168.50 Td (ence ) Tj ET Q q 0 0 0 rg BT 555.78 168.50 Td (of ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 158.90 Td (such ) Tj ET Q q 0 0 0 rg BT 101.47 158.90 Td (material ) Tj ET Q q 0 0 0 rg BT 130.38 158.90 Td (br) Tj ET Q q 0 0 0 rg BT 137.20 158.90 Td (each; ) Tj ET Q q 0 0 0 rg BT 156.77 158.90 Td (and ) Tj ET Q q 0 0 0 rg BT 170.57 158.90 Td (pr) Tj ET Q q 0 0 0 rg BT 177.39 158.90 Td (ovided, ) Tj ET Q q 0 0 0 rg BT 202.51 158.90 Td (further) Tj ET Q q 0 0 0 rg BT 223.85 158.90 Td (, ) Tj ET Q q 0 0 0 rg BT 227.65 158.90 Td (that ) Tj ET Q q 0 0 0 rg BT 241.90 158.90 Td (this ) Tj ET Q q 0 0 0 rg BT 255.27 158.90 Td (Contract ) Tj ET Q q 0 0 0 rg BT 285.51 158.90 Td (shall ) Tj ET Q q 0 0 0 rg BT 302.88 158.90 Td (not ) Tj ET Q q 0 0 0 rg BT 314.90 158.90 Td (terminate ) Tj ET Q q 0 0 0 rg BT 347.37 158.90 Td (if ) Tj ET Q q 0 0 0 rg BT 353.62 158.90 Td (such ) Tj ET Q q 0 0 0 rg BT 370.08 158.90 Td (notice ) Tj ET Q q 0 0 0 rg BT 391.43 158.90 Td (is ) Tj ET Q q 0 0 0 rg BT 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Tj ET Q q 0 0 0 rg BT 243.86 733.85 Td (social ) Tj ET Q q 0 0 0 rg BT 264.97 733.85 Td (security ) Tj ET Q q 0 0 0 rg BT 292.30 733.85 Td (contributions ) Tj ET Q q 0 0 0 rg BT 336.96 733.85 Td (as ) Tj ET Q q 0 0 0 rg BT 346.08 733.85 Td (appr) Tj ET Q q 0 0 0 rg BT 360.89 733.85 Td (opriate.) 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Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 676.25 Td (9.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 676.25 Td ( ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 122.00 676.25 Td (The ) Tj ET Q q 0 0 0 rg BT 136.29 676.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 169.25 676.25 Td (may ) Tj ET Q q 0 0 0 rg BT 184.87 676.25 Td (terminate ) Tj ET Q q 0 0 0 rg BT 217.82 676.25 Td (this ) Tj ET Q q 0 0 0 rg BT 231.67 676.25 Td (Contract ) Tj ET Q q 0 0 0 rg BT 262.41 676.25 Td (due ) Tj ET Q q 0 0 0 rg BT 276.25 676.25 Td (to ) Tj ET Q q 0 0 0 rg BT 284.77 676.25 Td (T) Tj ET Q q 0 0 0 rg BT 288.48 676.25 Td (ermination ) Tj ET Q q 0 0 0 rg BT 325.88 676.25 Td (for ) Tj ET Q q 0 0 0 rg BT 337.51 676.25 Td (Cause ) Tj ET Q q 0 0 0 rg BT 359.80 676.25 Td (without ) Tj ET Q q 0 0 0 rg BT 386.10 676.25 Td (notice, ) Tj ET Q q 0 0 0 rg BT 409.94 676.25 Td (payment ) Tj ET Q q 0 0 0 rg BT 439.33 676.25 Td (in ) Tj ET Q q 0 0 0 rg BT 447.84 676.25 Td (lieu ) Tj ET Q q 0 0 0 rg BT 462.13 676.25 Td (of ) Tj ET Q q 0 0 0 rg BT 470.65 676.25 Td (notice ) Tj ET Q q 0 0 0 rg BT 492.49 676.25 Td (or ) Tj ET Q q 0 0 0 rg BT 501.89 676.25 Td (any ) Tj ET Q q 0 0 0 rg BT 515.73 676.25 Td (other ) Tj ET Q q 0 0 0 rg BT 534.91 676.25 Td (payment ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 666.65 Td (whatsoever) Tj ET Q q 0 0 0 rg BT 120.55 666.65 Td (. ) Tj ET Q q 0 0 0 rg BT 124.66 666.65 Td () Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 129.11 666.65 Td (T) Tj ET Q q 0 0 0 rg BT 133.26 666.65 Td (ermination ) Tj ET Q q 0 0 0 rg BT 171.82 666.65 Td (for ) Tj ET Q q 0 0 0 rg BT 183.71 666.65 Td (Cause) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 204.16 666.65 Td ( ) Tj ET Q q 0 0 0 rg BT 210.72 666.65 Td (means ) Tj ET Q q 0 0 0 rg BT 233.27 666.65 Td ( ) Tj ET Q q 0 0 0 rg BT 235.38 666.65 Td (your ) Tj ET Q q 0 0 0 rg BT 252.15 666.65 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 261.81 666.65 Td (conviction ) Tj ET Q q 0 0 0 rg BT 297.24 666.65 Td (of ) Tj ET Q q 0 0 0 rg BT 305.57 666.65 Td (a ) Tj ET Q q 0 0 0 rg BT 311.68 666.65 Td (felony ) Tj ET Q q 0 0 0 rg BT 333.34 666.65 Td (or ) Tj ET Q q 0 0 0 rg BT 342.56 666.65 Td (entering ) Tj ET Q q 0 0 0 rg BT 371.33 666.65 Td (a ) Tj ET Q q 0 0 0 rg BT 377.44 666.65 Td (plea ) Tj ET Q q 0 0 0 rg BT 393.32 666.65 Td (of ) Tj ET Q q 0 0 0 rg BT 401.66 666.65 Td (nolo ) Tj ET Q q 0 0 0 rg BT 417.99 666.65 Td (contender) Tj ET Q q 0 0 0 rg BT 449.68 666.65 Td (e ) Tj ET Q q 0 0 0 rg BT 455.34 666.65 Td (\(or ) Tj ET Q q 0 0 0 rg BT 467.23 666.65 Td (its ) Tj ET Q q 0 0 0 rg BT 476.89 666.65 Td (equivalent\) ) Tj ET Q q 0 0 0 rg BT 514.99 666.65 Td (with ) Tj ET Q q 0 0 0 rg BT 530.88 666.65 Td (r) Tj ET Q q 0 0 0 rg BT 533.70 666.65 Td (espect ) Tj ET Q q 0 0 0 rg BT 555.79 666.65 Td (to ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 657.05 Td (a ) Tj ET Q q 0 0 0 rg BT 90.50 657.05 Td (char) Tj ET Q q 0 0 0 rg BT 104.87 657.05 Td (ged ) Tj ET Q q 0 0 0 rg BT 117.91 657.05 Td (felony; 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) Tj ET Q q 0 0 0 rg BT 132.98 647.45 Td (\(iii\) ) Tj ET Q q 0 0 0 rg BT 147.64 647.45 Td (wilful ) Tj ET Q q 0 0 0 rg BT 168.52 647.45 Td (misr) Tj ET Q q 0 0 0 rg BT 182.45 647.45 Td (epr) Tj ET Q q 0 0 0 rg BT 192.82 647.45 Td (esentation ) Tj ET Q q 0 0 0 rg BT 228.36 647.45 Td (to ) Tj ET Q q 0 0 0 rg BT 237.24 647.45 Td (the ) Tj ET Q q 0 0 0 rg BT 249.67 647.45 Td (shar) Tj ET Q q 0 0 0 rg BT 263.60 647.45 Td (eholders ) Tj ET Q q 0 0 0 rg BT 293.81 647.45 Td (or ) Tj ET Q q 0 0 0 rg BT 303.58 647.45 Td (dir) Tj ET Q q 0 0 0 rg BT 312.62 647.45 Td (ectors ) Tj ET Q q 0 0 0 rg BT 334.83 647.45 Td (of ) Tj ET Q q 0 0 0 rg BT 343.71 647.45 Td (CME ) Tj ET Q q 0 0 0 rg BT 363.26 647.45 Td (Ltd. ) Tj ET Q q 0 0 0 rg BT 378.59 647.45 Td (that ) Tj ET Q q 0 0 0 rg BT 393.69 647.45 Td (is ) Tj ET Q q 0 0 0 rg BT 401.69 647.45 Td (injurious ) Tj ET Q q 0 0 0 rg BT 433.24 647.45 Td (to ) Tj ET Q q 0 0 0 rg BT 442.12 647.45 Td (CME ) Tj ET Q q 0 0 0 rg BT 461.66 647.45 Td (Ltd.; ) Tj ET Q q 0 0 0 rg BT 479.66 647.45 Td (\(iv\) ) Tj ET Q q 0 0 0 rg BT 493.42 647.45 Td (wilful ) Tj ET Q q 0 0 0 rg BT 514.30 647.45 Td (failur) Tj ET Q q 0 0 0 rg BT 531.79 647.45 Td (e ) Tj ET Q q 0 0 0 rg BT 538.00 647.45 Td (without ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 637.85 Td (r) Tj ET Q q 0 0 0 rg BT 87.82 637.85 Td (easonable ) Tj ET Q q 0 0 0 rg BT 122.20 637.85 Td (justification ) Tj ET Q q 0 0 0 rg BT 162.37 637.85 Td (to ) Tj ET Q q 0 0 0 rg BT 170.54 637.85 Td (comply ) Tj ET Q q 0 0 0 rg BT 195.59 637.85 Td (with ) Tj ET Q q 0 0 0 rg BT 211.32 637.85 Td (a ) Tj ET Q q 0 0 0 rg BT 217.27 637.85 Td (r) Tj ET Q q 0 0 0 rg BT 220.09 637.85 Td (easonable ) Tj ET Q q 0 0 0 rg BT 254.47 637.85 Td (written ) Tj ET Q q 0 0 0 rg BT 279.09 637.85 Td (instruction ) Tj ET Q q 0 0 0 rg BT 315.71 637.85 Td (or ) Tj ET Q q 0 0 0 rg BT 324.77 637.85 Td (r) Tj ET Q q 0 0 0 rg BT 327.58 637.85 Td (esolution ) Tj ET Q q 0 0 0 rg BT 358.86 637.85 Td (of ) Tj ET Q q 0 0 0 rg BT 367.04 637.85 Td (the ) Tj ET Q q 0 0 0 rg BT 378.76 637.85 Td (Boar) Tj ET Q q 0 0 0 rg BT 394.46 637.85 Td (d ) Tj ET Q q 0 0 0 rg BT 400.41 637.85 Td (of ) Tj ET Q q 0 0 0 rg BT 408.58 637.85 Td (Dir) Tj ET Q q 0 0 0 rg BT 419.40 637.85 Td (ectors ) Tj ET Q q 0 0 0 rg BT 440.89 637.85 Td (of ) Tj ET Q q 0 0 0 rg BT 449.07 637.85 Td (CME ) Tj ET Q q 0 0 0 rg BT 467.90 637.85 Td (Ltd.; ) Tj ET Q q 0 0 0 rg BT 485.18 637.85 Td (or ) Tj ET Q q 0 0 0 rg BT 494.25 637.85 Td (\(v\) ) Tj ET Q q 0 0 0 rg BT 505.07 637.85 Td (a ) Tj ET Q q 0 0 0 rg BT 511.02 637.85 Td (material ) Tj ET Q q 0 0 0 rg BT 540.08 637.85 Td (br) Tj ET Q q 0 0 0 rg BT 546.90 637.85 Td (each ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 628.25 Td (of ) Tj ET Q q 0 0 0 rg BT 92.99 628.25 Td (your ) Tj ET Q q 0 0 0 rg BT 109.42 628.25 Td (duties ) Tj ET Q q 0 0 0 rg BT 130.30 628.25 Td (or ) Tj ET Q q 0 0 0 rg BT 139.18 628.25 Td (obligations ) Tj ET Q q 0 0 0 rg BT 176.95 628.25 Td (under ) Tj ET Q q 0 0 0 rg BT 197.38 628.25 Td (this ) Tj ET Q q 0 0 0 rg BT 210.71 628.25 Td (Contract. ) Tj ET Q q 0 0 0 rg BT 242.92 628.25 Td (The ) Tj ET Q q 0 0 0 rg BT 256.69 628.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 289.12 628.25 Td (may) Tj ET Q q 0 0 0 rg BT 302.01 628.25 Td (, ) Tj ET Q q 0 0 0 rg BT 305.78 628.25 Td (in ) Tj ET Q q 0 0 0 rg BT 313.77 628.25 Td (its ) Tj ET Q q 0 0 0 rg BT 323.09 628.25 Td (r) Tj ET Q q 0 0 0 rg BT 325.91 628.25 Td (easonable ) Tj ET Q q 0 0 0 rg BT 360.11 628.25 Td (judgment, ) Tj ET Q q 0 0 0 rg BT 393.65 628.25 Td (suspend ) Tj ET Q q 0 0 0 rg BT 421.20 628.25 Td (you ) Tj ET Q q 0 0 0 rg BT 434.52 628.25 Td (on ) Tj ET Q q 0 0 0 rg BT 444.29 628.25 Td (full ) Tj ET Q q 0 0 0 rg BT 456.72 628.25 Td (pay ) Tj ET Q q 0 0 0 rg BT 470.04 628.25 Td (during ) Tj ET Q q 0 0 0 rg BT 493.14 628.25 Td (any ) Tj ET Q q 0 0 0 rg BT 506.46 628.25 Td (investigation ) Tj ET Q q 0 0 0 rg BT 549.56 628.25 Td (that ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 618.65 Td (the ) Tj ET Q q 0 0 0 rg BT 96.07 618.65 Td (Company ) Tj ET Q q 0 0 0 rg BT 128.04 618.65 Td (may ) Tj ET Q q 0 0 0 rg BT 142.66 618.65 Td (undertake ) Tj ET Q q 0 0 0 rg BT 175.95 618.65 Td (into ) Tj ET Q q 0 0 0 rg BT 189.69 618.65 Td (any ) Tj ET Q q 0 0 0 rg BT 202.54 618.65 Td (fact ) Tj ET Q q 0 0 0 rg BT 215.84 618.65 Td (or ) Tj ET Q q 0 0 0 rg BT 224.25 618.65 Td (cir) Tj ET Q q 0 0 0 rg BT 232.84 618.65 Td (cumstance ) Tj ET Q q 0 0 0 rg BT 267.90 618.65 Td (which ) Tj ET Q q 0 0 0 rg BT 288.31 618.65 Td (could ) Tj ET Q q 0 0 0 rg BT 307.38 618.65 Td (lead ) Tj ET Q q 0 0 0 rg BT 322.46 618.65 Td (to ) Tj ET Q q 0 0 0 rg BT 329.98 618.65 Td (your ) Tj ET Q q 0 0 0 rg BT 345.94 618.65 Td (T) Tj ET Q q 0 0 0 rg BT 349.66 618.65 Td (ermination ) Tj ET Q q 0 0 0 rg BT 386.06 618.65 Td (for ) Tj ET Q q 0 0 0 rg BT 396.70 618.65 Td (Cause. ) Tj ET Q q 0 0 0 rg BT 420.00 618.65 Td (Notwithstanding ) Tj ET Q q 0 0 0 rg BT 474.20 618.65 Td (the ) Tj ET Q q 0 0 0 rg BT 485.27 618.65 Td (for) Tj ET Q q 0 0 0 rg BT 494.31 618.65 Td (egoing, ) Tj ET Q q 0 0 0 rg BT 519.38 618.65 Td (a ) Tj ET Q q 0 0 0 rg BT 524.68 618.65 Td (termination ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 609.05 Td (shall ) Tj ET Q q 0 0 0 rg BT 103.38 609.05 Td (not ) Tj ET Q q 0 0 0 rg BT 116.42 609.05 Td (be ) Tj ET Q q 0 0 0 rg BT 126.80 609.05 Td (tr) Tj ET Q q 0 0 0 rg BT 131.83 609.05 Td (eated ) Tj ET Q q 0 0 0 rg BT 151.98 609.05 Td (as ) Tj ET Q q 0 0 0 rg BT 161.92 609.05 Td (T) Tj ET Q q 0 0 0 rg BT 165.63 609.05 Td (ermination ) Tj ET Q q 0 0 0 rg BT 203.56 609.05 Td (for ) Tj ET Q q 0 0 0 rg BT 215.72 609.05 Td (Cause ) Tj ET Q q 0 0 0 rg BT 238.54 609.05 Td (unless ) Tj ET Q q 0 0 0 rg BT 261.36 609.05 Td (the ) Tj ET Q q 0 0 0 rg BT 273.96 609.05 Td (Company ) Tj ET Q q 0 0 0 rg BT 307.44 609.05 Td (has ) Tj ET Q q 0 0 0 rg BT 321.38 609.05 Td (deliver) Tj ET Q q 0 0 0 rg BT 343.29 609.05 Td (ed ) Tj ET Q q 0 0 0 rg BT 353.66 609.05 Td (a ) Tj ET Q q 0 0 0 rg BT 360.48 609.05 Td (written ) Tj ET Q q 0 0 0 rg BT 385.97 609.05 Td (notice ) Tj ET Q q 0 0 0 rg BT 408.34 609.05 Td (to ) Tj ET Q q 0 0 0 rg BT 417.38 609.05 Td (you ) Tj ET Q q 0 0 0 rg BT 431.76 609.05 Td (stating ) Tj ET Q q 0 0 0 rg BT 456.36 609.05 Td (that ) Tj ET Q q 0 0 0 rg BT 471.63 609.05 Td (it ) Tj ET Q q 0 0 0 rg BT 478.89 609.05 Td (intends ) Tj ET Q q 0 0 0 rg BT 504.82 609.05 Td (to ) Tj ET Q q 0 0 0 rg BT 513.87 609.05 Td (terminate ) Tj ET Q q 0 0 0 rg BT 547.35 609.05 Td (your ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 599.45 Td (employment ) Tj ET Q q 0 0 0 rg BT 125.65 599.45 Td (due ) Tj ET Q q 0 0 0 rg BT 139.20 599.45 Td (to ) Tj ET Q q 0 0 0 rg BT 147.43 599.45 Td (T) Tj ET Q q 0 0 0 rg BT 151.14 599.45 Td (ermination ) Tj ET Q q 0 0 0 rg BT 188.25 599.45 Td (for ) Tj ET Q q 0 0 0 rg BT 199.59 599.45 Td (Cause ) Tj ET Q q 0 0 0 rg BT 221.59 599.45 Td (and ) Tj ET Q q 0 0 0 rg BT 235.59 599.45 Td (specifying ) Tj ET Q q 0 0 0 rg BT 270.02 599.45 Td (the ) Tj ET Q q 0 0 0 rg BT 281.79 599.45 Td (basis ) Tj ET Q q 0 0 0 rg BT 300.24 599.45 Td (for ) Tj ET Q q 0 0 0 rg BT 311.58 599.45 Td (such ) Tj ET Q q 0 0 0 rg BT 328.24 599.45 Td (termination.) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 575.45 Td (9.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 575.45 Td ( ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 122.00 575.45 Td (Upon ) Tj ET Q q 0 0 0 rg BT 142.12 575.45 Td (the ) Tj ET Q q 0 0 0 rg BT 154.24 575.45 Td (termination ) Tj ET Q q 0 0 0 rg BT 193.92 575.45 Td (by ) Tj ET Q q 0 0 0 rg BT 203.82 575.45 Td (whatever ) Tj ET Q q 0 0 0 rg BT 235.49 575.45 Td (means ) Tj ET Q q 0 0 0 rg BT 258.28 575.45 Td (of ) Tj ET Q q 0 0 0 rg BT 266.85 575.45 Td (this ) Tj ET Q q 0 0 0 rg BT 280.75 575.45 Td (Contract ) Tj ET Q q 0 0 0 rg BT 311.55 575.45 Td (you ) Tj ET Q q 0 0 0 rg BT 325.44 575.45 Td (shall ) Tj ET Q q 0 0 0 rg BT 343.35 575.45 Td (immediately ) Tj ET Q q 0 0 0 rg BT 384.79 575.45 Td (r) Tj ET Q q 0 0 0 rg BT 387.61 575.45 Td (eturn ) Tj ET Q q 0 0 0 rg BT 406.84 575.45 Td (to ) Tj ET Q q 0 0 0 rg BT 415.41 575.45 Td (the ) Tj ET Q q 0 0 0 rg BT 427.53 575.45 Td (Company ) Tj ET Q q 0 0 0 rg BT 460.54 575.45 Td (all ) Tj ET Q q 0 0 0 rg BT 471.33 575.45 Td (documents, ) Tj ET Q q 0 0 0 rg BT 509.90 575.45 Td (computer ) Tj ET Q q 0 0 0 rg BT 542.46 575.45 Td (media ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 565.85 Td (and ) Tj ET Q q 0 0 0 rg BT 99.52 565.85 Td (har) Tj ET Q q 0 0 0 rg BT 110.34 565.85 Td (dwar) Tj ET Q q 0 0 0 rg BT 126.49 565.85 Td (e, ) Tj ET Q q 0 0 0 rg BT 134.57 565.85 Td (cr) Tj ET Q q 0 0 0 rg BT 140.93 565.85 Td (edit ) Tj ET Q q 0 0 0 rg BT 155.45 565.85 Td (car) Tj ET Q q 0 0 0 rg BT 165.82 565.85 Td (ds, ) Tj ET Q q 0 0 0 rg BT 177.46 565.85 Td (mobile ) Tj ET Q q 0 0 0 rg BT 201.75 565.85 Td (phones ) Tj ET Q q 0 0 0 rg BT 226.94 565.85 Td (and ) Tj ET Q q 0 0 0 rg BT 241.46 565.85 Td (communication ) Tj ET Q q 0 0 0 rg BT 293.31 565.85 Td (devices, ) Tj ET Q q 0 0 0 rg BT 321.38 565.85 Td (keys ) Tj ET Q q 0 0 0 rg BT 337.66 565.85 Td (and ) Tj ET Q q 0 0 0 rg BT 352.19 565.85 Td (all ) Tj ET Q q 0 0 0 rg BT 363.16 565.85 Td (other ) Tj ET Q q 0 0 0 rg BT 382.57 565.85 Td (pr) Tj ET Q q 0 0 0 rg BT 389.38 565.85 Td (operty ) Tj ET Q q 0 0 0 rg BT 412.34 565.85 Td (belonging ) Tj ET Q q 0 0 0 rg BT 446.86 565.85 Td (to ) Tj ET Q q 0 0 0 rg BT 455.61 565.85 Td (or ) Tj ET Q q 0 0 0 rg BT 465.25 565.85 Td (r) Tj ET Q q 0 0 0 rg BT 468.06 565.85 Td (elating ) Tj ET Q q 0 0 0 rg BT 492.80 565.85 Td (to ) Tj ET Q q 0 0 0 rg BT 501.55 565.85 Td (the ) Tj ET Q q 0 0 0 rg BT 513.85 565.85 Td (business ) Tj ET Q q 0 0 0 rg BT 543.48 565.85 Td (of ) Tj ET Q q 0 0 0 rg BT 552.23 565.85 Td (the ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 85.00 556.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 117.66 556.25 Td (which ) Tj ET Q q 0 0 0 rg BT 138.77 556.25 Td (is ) Tj ET Q q 0 0 0 rg BT 146.11 556.25 Td (in ) Tj ET Q q 0 0 0 rg BT 154.33 556.25 Td (your ) Tj ET Q q 0 0 0 rg BT 171.00 556.25 Td (possession ) Tj ET Q q 0 0 0 rg BT 207.22 556.25 Td (or ) Tj ET Q q 0 0 0 rg BT 216.34 556.25 Td (under ) Tj ET Q q 0 0 0 rg BT 237.00 556.25 Td (your ) Tj ET Q q 0 0 0 rg BT 253.66 556.25 Td (power ) Tj ET Q q 0 0 0 rg BT 275.66 556.25 Td (or ) Tj ET Q q 0 0 0 rg BT 284.78 556.25 Td (contr) Tj ET Q q 0 0 0 rg BT 301.37 556.25 Td (ol ) Tj ET Q q 0 0 0 rg BT 309.59 556.25 Td (and ) Tj ET Q q 0 0 0 rg BT 323.59 556.25 Td (you ) Tj ET Q q 0 0 0 rg BT 337.14 556.25 Td (must ) Tj ET Q q 0 0 0 rg BT 354.25 556.25 Td (not ) Tj ET Q q 0 0 0 rg BT 366.48 556.25 Td (r) Tj ET Q q 0 0 0 rg BT 369.29 556.25 Td (etain ) Tj ET Q q 0 0 0 rg BT 387.29 556.25 Td (copies ) Tj ET Q q 0 0 0 rg BT 409.73 556.25 Td (of ) Tj ET Q q 0 0 0 rg BT 417.95 556.25 Td (any ) Tj ET Q q 0 0 0 rg BT 431.50 556.25 Td (of ) Tj ET Q q 0 0 0 rg BT 439.72 556.25 Td (the ) Tj ET Q q 0 0 0 rg BT 451.50 556.25 Td (above.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 524.65 Td (All ) Tj ET Q q 0 0 0 rg BT 62.22 524.65 Td (other ) Tj ET Q q 0 0 0 rg BT 80.66 524.65 Td (terms ) Tj ET Q q 0 0 0 rg BT 100.43 524.65 Td (of ) Tj ET Q q 0 0 0 rg BT 109.10 524.65 Td (the ) Tj ET Q q 0 0 0 rg BT 120.87 524.65 Td (Contract ) Tj ET Q q 0 0 0 rg BT 150.42 524.65 Td (shall ) Tj ET Q q 0 0 0 rg BT 167.53 524.65 Td (remain ) Tj ET Q q 0 0 0 rg BT 191.74 524.65 Td (the ) Tj ET Q q 0 0 0 rg BT 203.51 524.65 Td (same.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 505.05 Td (Please ) Tj ET Q q 0 0 0 rg BT 72.44 505.05 Td (countersign ) Tj ET Q q 0 0 0 rg BT 111.76 505.05 Td (this ) Tj ET Q q 0 0 0 rg BT 125.32 505.05 Td (letter ) Tj ET Q q 0 0 0 rg BT 143.75 505.05 Td (in ) Tj ET Q q 0 0 0 rg BT 151.98 505.05 Td (agreement ) Tj ET Q q 0 0 0 rg BT 187.29 505.05 Td (and ) Tj ET Q q 0 0 0 rg BT 200.84 505.05 Td (acknowledgment ) Tj ET Q q 0 0 0 rg BT 257.49 505.05 Td (of ) Tj ET Q q 0 0 0 rg BT 266.15 505.05 Td (the ) Tj ET Q q 0 0 0 rg BT 277.93 505.05 Td (above.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 463.45 Td (Y) Tj ET Q q 0 0 0 rg BT 54.98 463.45 Td (ours ) Tj ET Q q 0 0 0 rg BT 70.75 463.45 Td (sincerely) Tj ET Q q 0 0 0 rg BT 99.11 463.45 Td (,) Tj ET Q BT /F1 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 418.78359375 m 109.8515625 418.78359375 l s q 0 0 0 rg BT 50.00 419.85 Td (/s/ ) Tj ET Q q 0 0 0 rg BT 59.56 419.85 Td (David ) Tj ET Q q 0 0 0 rg BT 81.11 419.85 Td (Stur) Tj ET Q q 0 0 0 rg BT 94.30 419.85 Td (geon) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.85 419.85 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 419.85 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 419.85 Td ( ) Tj ET Q q 0 0 0 rg BT 194.00 419.85 Td ( ) Tj ET Q q 0 0 0 rg BT 230.00 419.85 Td ( ) Tj ET Q q 0 0 0 rg BT 266.00 419.85 Td ( ) Tj ET Q q 0 0 0 rg BT 302.00 419.85 Td ( ) Tj ET Q q 0 0 0 rg BT 338.00 419.85 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 410.25 Td (David ) Tj ET Q q 0 0 0 rg BT 71.55 410.25 Td (Stur) Tj ET Q q 0 0 0 rg BT 84.74 410.25 Td (geon) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 400.65 Td (Director) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 391.05 Td (CME ) Tj ET Q q 0 0 0 rg BT 69.34 391.05 Td (Media ) Tj ET Q q 0 0 0 rg BT 91.77 391.05 Td (Services ) Tj ET Q q 0 0 0 rg BT 120.88 391.05 Td (Limited ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 347.45 Td (Countersigned ) Tj ET Q q 0 0 0 rg BT 98.66 347.45 Td (in ) Tj ET Q q 0 0 0 rg BT 106.88 347.45 Td (agreement ) Tj ET Q q 0 0 0 rg BT 142.20 347.45 Td (and ) Tj ET Q q 0 0 0 rg BT 155.75 347.45 Td (acknowledgment:) Tj ET Q BT /F1 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 310.38359375 m 98.8828125 310.38359375 l s q 0 0 0 rg BT 50.00 311.45 Td (/s/ ) Tj ET Q q 0 0 0 rg BT 59.56 311.45 Td (Daniel ) Tj ET Q q 0 0 0 rg BT 82.88 311.45 Td (Penn) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.88 311.45 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 311.45 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 311.45 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 194.00 311.45 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.00 311.45 Td ( ) Tj ET Q q 0 0 0 rg BT 230.00 311.45 Td ( ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 301.85 Td (Daniel ) Tj ET Q q 0 0 0 rg BT 73.32 301.85 Td (Penn) Tj ET Q endstream endobj 229 0 obj <> endobj 230 0 obj <> stream 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 1 J 1 j 3 M 50 745.5 m 562 745.5 l s BT /F1 8.00 Tf ET BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 516.65 732.648046875 m 561.99375 732.648046875 l s q 0 0 0 rg BT 516.65 733.90 Td (Exhibit 12.01) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 186.05 712.30 Td (COMPUT) Tj ET Q q 0 0 0 rg BT 221.01 712.30 Td (A) Tj ET Q q 0 0 0 rg BT 226.19 712.30 Td (TION OF) Tj ET Q q 0 0 0 rg BT 259.45 712.30 Td ( RA) Tj ET Q q 0 0 0 rg BT 272.41 712.30 Td (TIO OF) Tj ET Q q 0 0 0 rg BT 299.90 712.30 Td ( EARNINGS ) Tj ET Q q 0 0 0 rg BT 345.98 712.30 Td (T) Tj ET Q q 0 0 0 rg BT 351.18 712.30 Td (O FIXED CHARGES) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 660.80 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 660.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 660.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 660.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 660.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 660.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 660.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 660.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 660.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 660.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 630.80 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 630.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 630.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 630.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 630.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 630.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 630.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 630.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 630.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 630.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 600.80 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 600.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 600.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 600.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 600.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 600.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 600.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 600.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 600.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 600.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 570.80 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 570.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 570.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 570.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 570.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 570.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 570.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 570.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 570.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 570.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 540.80 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 540.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 540.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 540.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 540.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 540.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 540.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 540.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 540.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 540.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 510.80 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 510.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 510.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 510.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 510.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 510.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 510.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 510.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 510.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 510.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 480.80 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 480.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 480.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 480.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 480.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 480.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 480.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 480.80 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 480.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 480.80 48.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 675.8 m 353.5 675.8 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 675.8 m 357.5 675.8 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 675.8 m 405.5 675.8 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 675.8 m 409.5 675.8 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 675.8 m 457.5 675.8 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 675.8 m 461.5 675.8 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 675.8 m 509.5 675.8 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 675.8 m 513.5 675.8 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 675.8 m 561.5 675.8 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 660.8 m 353.5 660.8 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 660.8 m 405.5 660.8 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 660.8 m 457.5 660.8 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 660.8 m 509.5 660.8 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 660.8 m 561.5 660.8 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 660.8 m 353.5 660.8 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 660.8 m 405.5 660.8 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 660.8 m 457.5 660.8 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 660.8 m 509.5 660.8 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 660.8 m 561.5 660.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 600.8 m 353.5 600.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 600.8 m 405.5 600.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 600.8 m 457.5 600.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 600.8 m 509.5 600.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 600.8 m 561.5 600.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 510.8 m 353.5 510.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 510.8 m 405.5 510.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 510.8 m 457.5 510.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 510.8 m 509.5 510.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 510.8 m 561.5 510.8 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 372.75 693.03 Td (For The Year Ending December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.15 680.03 Td (\(US$ 000's, except per share data\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 334.00 665.03 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 386.00 665.03 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.00 665.03 Td (2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.00 665.03 Td (2011) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 542.00 665.03 Td (2010) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 650.05 Td (Loss from continuing operations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 308.00 650.05 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.60 650.05 Td (\(151,465) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 350.30 650.05 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 360.00 650.05 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.60 650.05 Td (\(276,434) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.30 650.05 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.00 650.05 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.60 650.05 Td (\(535,708) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 454.30 650.05 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.00 650.05 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.60 650.05 Td (\(157,517) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 650.05 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 650.05 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.60 650.05 Td (\(102,560) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 650.05 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 635.05 Td (Add back:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 620.05 Td (Credit / \(provision\) for income taxes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.25 620.05 Td (1,358) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.25 620.05 Td (17,993) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.25 620.05 Td (14,751) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 485.60 620.05 Td (\(3,937) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 620.05 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.60 620.05 Td (\(6,005) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 620.05 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 605.05 Td (Fixed charges) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 324.25 605.05 Td (145,344) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.25 605.05 Td (115,895) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.25 605.05 Td (132,212) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.25 605.05 Td (138,814) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.25 605.05 Td (131,455) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 590.03 Td (Earnings) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 308.00 590.03 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 329.60 590.03 Td (\(4,763) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.30 590.03 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.00 590.03 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 373.60 590.03 Td (\(142,546) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.30 590.03 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 412.00 590.03 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.60 590.03 Td (\(388,745) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.30 590.03 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.00 590.03 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 481.60 590.03 Td (\(22,640) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 506.30 590.03 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.00 590.03 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.25 590.03 Td (22,890) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 560.05 Td (Interest expense) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 308.00 560.05 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 324.25 560.05 Td (104,570) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 360.00 560.05 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.25 560.05 Td (100,320) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.00 560.05 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.25 560.05 Td (107,554) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.00 560.05 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.25 560.05 Td (111,948) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 560.05 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.25 560.05 Td (101,201) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 545.05 Td (Amortization of debt issuance costs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.25 545.05 Td (18,297) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 384.25 545.05 Td (4,101) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.25 545.05 Td (14,101) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.25 545.05 Td (6,226) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.25 545.05 Td (5,706) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 530.05 Td (Amortization of debt issuance discount and premium, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.25 530.05 Td (19,138) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 384.25 530.05 Td (7,288) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.25 530.05 Td (5,999) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.25 530.05 Td (17,379) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.25 530.05 Td (21,299) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 515.05 Td (Assumed interest component of rent expense ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 197.74 518.68 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.25 515.05 Td (3,339) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 384.25 515.05 Td (4,186) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.25 515.05 Td (4,558) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.25 515.05 Td (3,261) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.25 515.05 Td (3,249) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 500.03 Td (Fixed charges) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 308.00 500.03 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.25 500.03 Td (145,344) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.00 500.03 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.25 500.03 Td (115,895) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 412.00 500.03 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 428.25 500.03 Td (132,212) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.00 500.03 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 480.25 500.03 Td (138,814) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.00 500.03 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.25 500.03 Td (131,455) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 485.03 Td (Ratio of earnings to fixed charges) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 333.60 485.03 Td (\(0.03) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.30 485.03 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.60 485.03 Td (\(1.23) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.30 485.03 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 437.60 485.03 Td (\(2.94) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.30 485.03 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.60 485.03 Td (\(0.16) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 506.30 485.03 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.30 485.03 Td (0.17) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 455.03 Td (Dollar deficiency) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 308.00 455.03 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.25 455.03 Td (150,107) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.00 455.03 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.25 455.03 Td (258,441) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 412.00 455.03 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 428.25 455.03 Td (520,957) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.00 455.03 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 480.25 455.03 Td (161,454) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.00 455.03 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.25 455.03 Td (108,565) Tj ET Q BT /F1 8.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 434.50 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 68.00 434.50 Td (Amounts represent those portions of rent expense \(one-third\) that are reasonable approximations of interest costs.) 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Tf ET q 0 0 0 rg BT 86.00 439.10 Td (the registrant's internal control over financial reporting; and) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 420.50 Td (5. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 420.50 Td (The registrant's other certifying of) Tj ET Q q 0 0 0 rg BT 177.26 420.50 Td (ficer\(s\) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 410.90 Td (registrant's auditors and the audit committee of the registrant's board of directors \(or persons performing the equivalent functions\):) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 392.30 Td (\(a\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 392.30 Td (All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 382.70 Td (likely to adversely af) Tj ET Q q 0 0 0 rg BT 153.16 382.70 Td (fect the registrant's ability to record, process, summarize and report financial information; and) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 364.10 Td (\(b\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 364.10 Td (Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 354.50 Td (financial reporting.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 335.90 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 315.65 Td () Tj ET Q BT /F1 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 102 314.58671875 m 165.3203125 314.58671875 l s q 0 0 0 rg BT 102.00 315.65 Td (/s/ Michael Del Nin) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 301.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 102.00 301.65 Td (Michael Del Nin) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 102.00 287.65 Td (co-Chief Executive Officer) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 273.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 102.00 273.65 Td (\(co-Principal Executive Officer\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 259.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 102.00 259.65 Td (March 12, 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 236.70 Td () Tj ET Q endstream endobj 241 0 obj <> endobj 242 0 obj <> stream 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 1 J 1 j 3 M 50 744.1 m 562 744.1 l s BT /F1 10.00 Tf ET BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 516.65 731.248046875 m 561.99375 731.248046875 l s q 0 0 0 rg BT 516.65 732.50 Td (Exhibit 31.02) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 722.90 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 193.50 713.30 Td (CER) Tj ET Q q 0 0 0 rg BT 210.11 713.30 Td (TIFICA) Tj ET Q q 0 0 0 rg BT 237.52 713.30 Td (TION OF) Tj ET Q q 0 0 0 rg BT 270.78 713.30 Td ( CO-PRINCIP) Tj ET Q q 0 0 0 rg BT 320.18 713.30 Td (AL) Tj ET Q q 0 0 0 rg BT 330.86 713.30 Td ( EXECUTIVE OFFICER) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 703.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (I, Christoph Mainusch, certify that:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 684.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 674.90 Td (1. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 674.90 Td (I have reviewed this annual report on Form 10-K of Central European Media Enterprises Ltd.;) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 656.30 Td (2. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 656.30 Td (Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 646.70 Td (statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 628.10 Td (3. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 628.10 Td (Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 618.50 Td (financial condition, results of operations and cash flows of the registrant as of, and for) Tj ET Q q 0 0 0 rg BT 343.16 618.50 Td (, the periods presented in this report;) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 599.90 Td (4. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 599.90 Td (The registrant's other certifying of) Tj ET Q q 0 0 0 rg BT 177.26 599.90 Td (ficer\(s\) and I are responsible for establishing and maintaining disclosure controls and procedures \(as defined in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 590.30 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 101.10 590.30 Td (Act Rules 13a-15\(e\) and 15d-15\(e\)\) and internal control over financial reporting \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 438.53 590.30 Td (Act Rules 13a-15\(f\) and 15d-15\(f\)\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 580.70 Td (for the registrant and have:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 562.10 Td (\(a\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 562.10 Td (Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 552.50 Td (ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 542.90 Td (entities, particularly during the period in which this report is being prepared;) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 524.30 Td (\(b\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 524.30 Td (Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 514.70 Td (supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 505.10 Td (purposes in accordance with generally accepted accounting principles;) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 486.50 Td (\(c\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 486.50 Td (Evaluated the ef) Tj ET Q q 0 0 0 rg BT 137.83 486.50 Td (fectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the ef) Tj ET Q q 0 0 0 rg BT 524.57 486.50 Td (fectiveness ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 476.90 Td (of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 458.30 Td (\(d\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 458.30 Td (Disclosed in this report any changes in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 448.70 Td (quarter \(the registrant's fourth fiscal quarter in the case of an annual report\), that has materially af) Tj ET Q q 0 0 0 rg BT 397.61 448.70 Td (fected, or is reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 542.74 448.70 Td (fect, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 439.10 Td (the registrant's internal control over financial reporting; and) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 420.50 Td (5. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 420.50 Td (The registrant's other certifying of) Tj ET Q q 0 0 0 rg BT 177.26 420.50 Td (ficer\(s\) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 410.90 Td (registrant's auditors and the audit committee of the registrant's board of directors \(or persons performing the equivalent functions\):) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 392.30 Td (\(a\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 392.30 Td (All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 382.70 Td (likely to adversely af) Tj ET Q q 0 0 0 rg BT 153.16 382.70 Td (fect the registrant's ability to record, process, summarize and report financial information; and) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 364.10 Td (\(b\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 364.10 Td (Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 354.50 Td (financial reporting.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 335.90 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 315.65 Td () Tj ET Q BT /F1 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 102 314.58671875 m 176.66796875 314.58671875 l s q 0 0 0 rg BT 102.00 315.65 Td (/s/ Christoph Mainusch) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 301.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 102.00 301.65 Td (Christoph Mainusch) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 102.00 287.65 Td (co-Chief Executive Officer) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 273.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 102.00 273.65 Td (\(co-Principal Executive Officer\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 259.65 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 102.00 259.65 Td (March 12, 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 236.70 Td () Tj ET Q endstream endobj 243 0 obj <> endobj 244 0 obj <> stream 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 1 J 1 j 3 M 50 744.1 m 562 744.1 l s BT /F1 10.00 Tf ET BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 516.65 731.248046875 m 561.99375 731.248046875 l s q 0 0 0 rg BT 516.65 732.50 Td (Exhibit 31.03) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 722.90 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 202.20 713.30 Td (CER) Tj ET Q q 0 0 0 rg BT 218.81 713.30 Td (TIFICA) Tj ET Q q 0 0 0 rg BT 246.22 713.30 Td (TION OF) Tj ET Q q 0 0 0 rg BT 279.48 713.30 Td ( PRINCIP) Tj ET Q q 0 0 0 rg BT 314.22 713.30 Td (AL) Tj ET Q q 0 0 0 rg BT 324.89 713.30 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 371.79 713.30 Td ( OFFICER) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 703.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (I, David Stur) Tj ET Q q 0 0 0 rg BT 91.41 694.10 Td (geon, certify that:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 684.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 674.90 Td (1. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 674.90 Td (I have 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rg BT 343.16 618.50 Td (, the periods presented in this report;) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 599.90 Td (4. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 599.90 Td (The registrant's other certifying of) Tj ET Q q 0 0 0 rg BT 177.26 599.90 Td (ficer\(s\) and I are responsible for establishing and maintaining disclosure controls and procedures \(as defined in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 590.30 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 101.10 590.30 Td (Act Rules 13a-15\(e\) and 15d-15\(e\)\) and internal control over financial reporting \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 438.53 590.30 Td (Act Rules 13a-15\(f\) and 15d-15\(f\)\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 580.70 Td (for the registrant and have:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 562.10 Td (\(a\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 562.10 Td (Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be 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Tf ET q 0 0 0 rg BT 68.00 486.50 Td (\(c\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 486.50 Td (Evaluated the ef) Tj ET Q q 0 0 0 rg BT 137.83 486.50 Td (fectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the ef) Tj ET Q q 0 0 0 rg BT 524.57 486.50 Td (fectiveness ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 476.90 Td (of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 458.30 Td (\(d\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 458.30 Td (Disclosed in this report any changes in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 448.70 Td (quarter \(the registrant's fourth fiscal quarter in the case of an annual report\), that has materially af) Tj ET Q q 0 0 0 rg BT 397.61 448.70 Td (fected, or is reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 542.74 448.70 Td (fect, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 439.10 Td (the registrant's internal control over financial reporting; and) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 420.50 Td (5. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 420.50 Td (The registrant's other certifying of) Tj ET Q q 0 0 0 rg BT 177.26 420.50 Td (ficer\(s\) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 410.90 Td (registrant's auditors and the audit committee of the registrant's board of directors \(or persons performing the equivalent functions\):) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 392.30 Td (\(a\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 392.30 Td (All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 382.70 Td (likely to adversely af) Tj ET Q q 0 0 0 rg BT 153.16 382.70 Td (fect the registrant's ability to record, process, summarize and report financial information; and) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 364.10 Td (\(b\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 364.10 Td (Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 354.50 Td (financial reporting.) 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