March 4 2016 March 11 2016 | Page 12

3DJH7KH&ROHEURRN&KURQLFOH)ULGD\0DUFK 6(&7RXU+HDULQJ &RQWLQXHGIURPSDJH WUDQVLW L R Q EDFNWRDERYHJURXQG%HFDXVHRI WKHGHOD\ZLWKWKHVWXFNEXVWKH ODVW VWRS RQ WKH GD\ªV WRXU¦ ZKLFK ZDV RQ 5RXWH  LQ 0LOOVILHOG ZDV FXW RII WKH WRXU VWRSV $QRWKHU VWRS DOVR ZDV UHPRYHG IURP WKH OLVW¦+HDWK 5RDGLQ6WHZDUWVWRZQ1RRQHLV VXUHZK\WKLVRQHZDVLQFOXGHG DV D VWRS GXULQJ WKH ZLQWHU VHDVRQ¦EXW +HDWK 5RDG LV QRW DFFHVVLEOH GXULQJ WKLV WLPH RI \HDUDQGVRLWZDVUHPRYHGIURP WKHOLVW 7KHILQDOVWRSRIWKHGD\ZDV DERXW D PLOH DQG D KDOI LQ RQ 'LDPRQG 3RQG 5RDG ZKHUH ZH VWRSSHG WR YLHZ D SKRWR VLPXODWLRQRIWKHRYHUKHDGOLQHV ORFDWLRQ DFURVV WKH ZLGHRSHQ KLOOVLGHVFRPLQJIURP&ODUNVYLOOH WKURXJK 6WHZDUWVWRZQ DQG WRZDUG'L[YLOOH1RWFK7KHEXVHV WKHQ UHWXUQHG WR &ROHEURRN ZKHUH WKH 6LWH (YDOXDWLRQ &RPPLWWHH PHPEHUV ZHUH GURSSHGRIIDW%ODFN%HDU7DYHUQ IRU WKHLU GLQQHU¦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§RSHUDWLRQV¨ IRU WKH SURMHFW ZRXOG EH WUHH FOHDULQJ DQG DFFHVV URDGV :H DOVR ZHUH WROGWKDWWKHRUGHURIGHFLVLRQRQ LQWHUYHQRUVLVH[SHFWHGRQ0DUFK R U0DUFK7KH&RXQVHOIRU WKH3XEOLFDQGWKH)RUHVW6RFLHW\ KDGPDGHVXJJHVWLRQVWRWKH6(& RQIXWXUHGDWHVDQGORFDWLRQVIRU WRXUV DFFRUGLQJ WR ,DFRSLQR RI ZKLFK KH VDLG WKHUH ZRXOG EH §PDQ\¨ $W  SP WKH 1+ 6LWH (YDOXDWLRQ&RPPLWWHHDQG86 'HSW RI (QHUJ\ RSHQHG WKH RIILFLDO SXEOLF PHHWLQJ RQ WKH SURMHFW:KLOHWKHUHZLOORQO\EH D KDQGIXO RI WKHVH SXEOLF PHHWLQJV¦ZKHUHTXHVWLRQVDQG FRPPHQWV ZHUH KHDUG E\ WKHVH WZR FRPPLWWHHV¦WKH JHQHUDO SXEOLFLVUHPLQGHGWKDWWKH\FDQ FRQWLQXHWRFRPPHQWDWDQ\WLPH E\VXEPLWWLQJOHWWHUVWRWKH6(& WKURXJK LWV $GPLQLVWUDWRU 3DPHOD 0RQURH E\ ZULWLQJ WR 3DPHOD0RQURH#VHFQKJRY RU E\ UHJXODU PDLO WR 3DPHOD * 0RQURH $GPLQLVWUDWRU 1HZ +DPSVKLUH 6LWH (YDOXDWLRQ &RPPLWWHH  6RXWK )UXLW 6WUHHW 6XLWH  &RQFRUG 1+  7KH SXEOLF KHDULQJ LQ &ROHEURRN ODVWHG IRU ILYH DQG D KDOIKRXUV)RUDERXWWKHILUVW PLQXWHV IROORZHG E\  VSHDNHUV¦ RSSRVLQJ WKH SURMHFWDQGLQIDYRU7KRVHLQ IDYRU LQFOXGHG ORJJHUV DQG PHPEHUVRIWKHHOHFWULFZRUNHUV XQLRQZKRVDLGWKH\DUHKRSLQJ IRU WKH ZRUN IURP WKH SURMHFW LQFOXGHG DPRQJ WKRVH VSHDNLQJ LQ IDYRU RI WKH SURMHFW ZDV /HV 2WWHQ WKH GHYHORSHU RI WKH %DOVDPV5HVRUW+RWHOSURMHFWLQ 'L[YLOOH 1RWFK 6HH VRPH RI 2WWHQªVFRPPHQWVUHJDUGLQJKLV VXSSRUWLQDSUHVVUHOHDVHVHQWWR WKH&KURQLFOHDQGRWKHUPHGLD RQSDJHILYHWKLVZHHN 0DUN +RQLJVEHUJ WKH FKDLUPDQ RI WKH 6(& IRU WKLV DSSOLFDWLRQLQWURGXFHGHYHU\RQH DW WKH WDEOH¦ZKLFK LQFOXGHG 'HSWRI5HVRXUFHVDQG(FRQRPLF 'HYHORSPHQWWKH3XEOLF8WLOLWLHV &RPPLVVLRQHU WKH 'HSW RI 7UDQVSRUWDWLRQ WKH 'HSW RI (QYLURQPHQWDO 6HUYLFHV WKH :KLWH 0RXQWDLQV 1DWLRQDO )RUHVWWKH'HSWRI(QHUJ\DQG WR SXEOLF PHPEHUV RI WKH FRPPLWWHH +H FDOOHG LW D §FRQFXUUHQWKHDULQJZLWKIHGHUDO DJHQFLHV¨ 7KHVH KDQGIXO RI KHDULQJV¦RQHLQHDFKFRXQW\WKH OLQH LV SURSRVHG WR FURVV WKURXJK¦DUH RSHQ WR DQ\RQH ZKRZRXOGOLNHWRDVNTXHVWLRQV RUVSHDNEXWEHDZDUHWKDWWKHUH LV D VWULFW FULWHULD WKDW LV IROORZHG 4XHVWLRQV PXVW EH ILOOHG RXW RQ IRUPV SULRU WR HQWHULQJWKHKHDULQJ+RQLJVEHUJ WKHQ UHDGV WKH TXHVWLRQV WR WKH DSSOLFDQW¦LQ &ROHEURRN WKRVH TXHVWLRQV ZHUH DQVZHUHG E\ (YHUVRXUFH (QHUJ\ &(2 %LOO 4XLQODQ4XLQODQZDVDOVRDVNHG E\ +RQLJVEHUJ WR JLYH DQ §RYHUYLHZ¨ RI WKH SURMHFW KRZHYHU4XLQODQLQVWHDGWDONHG DERXWWKH)RUZDUG1+SURJUDP ZKLFKZDVFUHDWHGE\(YHUVRXUFH WRSURYLGHILQDQFLDOLQFHQWLYHVWR WKRVHZKRZRUNHGWRVXSSRUWWKH SURMHFW+HWDONHGDERXWWKH1HZ (QJODQG HQHUJ\ PDUNHW DQG KH SUHVHQWHG ZKDW WKH FRPSDQ\ FRQVLGHUVWKHSRVLWLYHVLGHRIWKH SURSRVHG WUDQVPLVVLRQ OLQH :KHQ KLV VOLGH VKRZ ZDV FRPSOHWHGRQHDXGLHQFHPHPEHU JDYHDORXG§ERR¨DQG+RQLJVEHUJ VKRXWHG WKDW QR RQH ZRXOG EH DOORZHG WR DFW WKDW ZD\ GXULQJ WKHKHDULQJ,QIDFWWKHUHZHUH VHYHUDOXQLIRUPHGSROLFHRIILFHUV RQGXW\WKURXJKRXWWKHKHDULQJ DQG D IHZ WLPHV GXULQJ WKH HYHQLQJWKH\PRYHGFORVHWRDQ\ LQGLYLGXDO LI WKH\ VHHPHG WR EHFRPHGLVUXSWLYH 4XLQODQ ZDV DVNHG ZK\ WKH FRQYHUWHUIDFLOLW\LVEHLQJORFDWHG LQ )UDQNOLQ DQG KH DQVZHUHG WKDW )UDQNOLQ §DFFHSWHG WKH IDFLOLW\¨+HDOVRZDVDVNHGLIWKH SURSRVHGWUDQVPLVVLRQOLQHFRXOG EH H[SDQGHG DQG KH DQVZHUHG WKDWLWFRXOGQRWEHZLGHQHGEXW LWFRXOGEHPDGHORQJHU$QRWKHU TXHVWLRQHU VWDWHG  WRZQV LQ WKHVWDWHKDYHYRWHGDJDLQVWWKLV SURMHFW ZK\ GR \RX WKLQN WKH WRZQVKDYHWDNHQWKLVSRVLWLRQ" 4XLQODQ DQVZHUHG WKDW KH IHOW §WKH GLDORJXH KDV FKDQJHG¨ +H VDLG WKDW IRU H[DPSOH LQ )UDQNOLQ WKH WRZQ ZDV ORRNLQJ DWWKHSURMHFWIURPDMREDQGWD[ SHUVSHFWLYH§2XUFRPPLWPHQWLV WR ZRUN ZLWK WKHVH WRZQV¨ WKDW VXSSRUWWKHSURMHFWKHVDLG 2QHSHUVRQDVNHGKRZPDQ\ VWUXFWXUHV ZRXOG EH SDUW RI WKH RYHUKHDG SRUWLRQ¦4XLQODQ DQVZHUHG WKDW WKHUH DUH  WRWDO 2I WKRVH  VWUXFWXUHV ZLOO EH UHEXLOW WKRVH WKDW DUH FXUUHQWO\LQDQ(YHUVRXUFHULJKW RIZD\ZLOOEHUHSODFHG $QRWKHU DVNHGLISHUPLWVZRXOGEHQHHGHG WR WUDYHO RYHU 9HUPRQW URDGV ZLWK WKH KHDY\ ORDGV RI HTXLSPHQW DQG VXSSOLHV IRU ZKHUHWKHOLQHZRXOGHQWHUIURP &DQDGD¦4XLQODQVDLGQR $IWHU WKH ZULWWHQ TXHVWLRQV ZHUHKDQGOHGWKH6(&ZHQWLQWR WKH SXEOLF FRPPHQW SRUWLRQ VWDUWLQJ ZLWK HOHFWHG RIILFLDOV &ROHEURRN 6HOHFWPDQ 5D\ *RUPDQ DQG 5HS /DUU\ 5DSSDSRUWZHUHWKHILUVWWZRDW WKHSRGLXP5HS5DSSDSRUWVDLG KHKDGEHHQWU\LQJ§7RPHHWZLWK 0U 4XLQODQ IRU WZR \HDUV QRZ WKURXJK \RXU DVVRFLDWH 'RQQD *DPDFKH 6R IDU QRWKLQJ KDV KDSSHQHG¨ +H ZDV IROORZHG E\ &ROHEURRN UHVLGHQW 6DP %LUG ZKR VDLG §,Q DOO WKHVH \HDUV QRWKLQJKDVFKDQJHG$OOWKHSURV DUHWKHVDPHDOOWKHFRQVDUHWKH VDPH +HUH ZH DUH WR FRPPHQW HYHQ WKRXJK 1RUWKHUQ 3DVV GRHVQªW KDYH D FRPSOHWH DSSOLFDWLRQ 1R PDWWHU KRZ PDQ\ VSHDNHUV RU KRZ WR DUWLFXODWH LW¦\RX ZLOO KHDU QRWKLQJ QHZ ,WªV DOO EHHQ VDLG