0001193125-13-390428.txt : 201310040001193125-13-390428.hdr.sgml : 2013100420131003181240ACCESSION NUMBER:0001193125-13-390428CONFORMED SUBMISSION TYPE:6-KPUBLIC DOCUMENT COUNT:5CONFORMED PERIOD OF REPORT:20131004FILED AS OF DATE:20131004DATE AS OF CHANGE:20131003
FILER:
COMPANY DATA:COMPANY CONFORMED NAME:TELECOM CORP OF NEW ZEALAND LTDCENTRAL INDEX KEY:0000875809STANDARD INDUSTRIAL CLASSIFICATION:TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]IRS NUMBER:000000000FISCAL YEAR END:0630
FILING VALUES:FORM TYPE:6-KSEC ACT:1934 ActSEC FILE NUMBER:001-10798FILM NUMBER:131134965
BUSINESS ADDRESS:STREET 1:TELECOM HOUSESTREET 2:68 JERVOIS QUAYCITY:WELLINGTONSTATE:Q2ZIP:00000BUSINESS PHONE:64 4 4989103
MAIL ADDRESS:STREET 1:PO BOX 570STREET 2:WELLINGTONCITY:WELLINGTONSTATE:Q2ZIP:00000
6-K1d607321d6k.htmFORM 6-K
Form 6-K
Table of Contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
4October 2013
TelecomCorporation of New Zealand Limited (Telecom)
(Translation of registrants name into English)
New Zealand
(Jurisdiction of incorporation or organization)
Level 2,
Telecom Place
167 Victoria Street West
Auckland
New Zealand
(Address of principal executive office)
Indicate by check mark whetherthe registrant files or will file annual reports under cover of Form 20-F or Form 40-F: xForm 20-F Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-TRule 101(b)(7):
Indicate by check mark whether the registrant by furnishing the informationcontained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of1934:YesxNo
If Yes is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):n/a
Table of Contents
This report on Form 6-K contains the following:
1.Media Release - 2013 Shareholder Update
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,thereunto duly authorized.
Telecom Corporation of New Zealand Limited
Date: 4October 2013By:/s/ Silvana Roest
Name:Silvana Roest
Title:Company Secretary
Table of Contents
2013
SHAREHOLDER
UPDATE
Dear Shareholder,
Welcome to the second edition of our Shareholder Newsletter.
Hopefully you will get the sense after reading this newsletter that
Telecom is starting to build momentum in turningyour business
around.
With global and local industry changing massively, and with
Telecoms traditional sources of revenue in decline over recent
years, theimperative for change was undeniable. Weve made the
strategic choice to aspire to become a growing New Zealand company,
winning by customers choosing us to connect them at the speed of
life. To be number one in mobile, data,effortless service and
cost.
To deliver that turnaround, we need to become significantly more
cost-competitive in the near-term, and we need to create new
sourcesof revenue to deliver longer term growth. As you would have
seen from our annual results announcement in late August 2013, we
have set down some solid early markers in terms of our strategy but
we still have a lot of work to do to lift ourperformance.
In my first year since returning to Telecom, Ive seen how
technology is fast changing everything for our customers. Ive met
with hundredsof New Zealanders and heard what matters to them, and
what they think of Telecom - or in many cases, why they dont think
of us at all! If we are to be their chosen provider, our company
needs to change at the same rate and deliver them atechnology
future they can feel confident in.
To achieve this, we will need to do only the things our customers
value - and stop doing the things they no longervalue. To be
effortless to deal with, we will need to be determined and
courageous about fixing or removing things which slow us down. To
be relevant to younger, more mobile, more ethnically diverse New
Zealanders, we will need to invest in ourbrands, technology
platforms and products - to engage and grab their attention and
encourage them to choose us.
Creating tomorrows Telecom will not happenwithout commitment,
strong execution and decisive action, sustained over a long period
of time. But we are determined to become the Telecom that our
customers and shareholders want and expect us to be.
I trust you find this newsletter useful. We welcome any feedback,
which you can provide via email to
[email protected]
SIMON MOUTTER
Chief Executive
Find out how to make technology work better for you.
6.10pm Sunday - Thursday TV One
techinasec.co.nz
Table of Contents
2013 SHAREHOLDER UPDATE // OCTOBER
FY13 RESULTS
CHANGING AS FAST AS LIFE ITSELF.
As you will be aware, our FY13 results wereannounced on 23August
2013. So how did Telecom do?
Our net earnings after tax were NZ$238 million for the financial
year ending 30June 2013. Thatreflects the early impact of the major
strategic shift thats underway right across the company.
During the year, we began our big shift from a traditionalfixed and
mobile infrastructure company to a future-oriented competitive
provider of communication, entertainment and IT services, delivered
over our networks and the Cloud.
We made some deliberate calls: to grow share in the mobile market,
hold share in the broadband market, refocus the Gen-i business
services portfolio and significantly reduceoperating costs.
We were conscious these decisions would likely have a negative
impact on short-term operating revenues and margins. However, we
believe they haveenhanced Telecoms position for the longer term, by
strengthening our customer base and improving our cost
competitiveness.
Overall we had a weaker secondhalf financial performance. Adjusted
EBITDA for the second half of the year was down 4.1% versus the
second half of the prior year, with Retail, Gen-i, Wholesale&
International and AAPT all experiencing EBITDA declines, due to the
impactsof intense price competition, partially offset by reduced
labour costs.
Although financial performance was weaker, there were encouraging
signs of growth andstability in the customer base. We also invested
in new service initiatives for customers. These included
Telecommunity, an online site where customers can share helpful
information and solve problems, and the Tech in a Sec TV and
onlineseries of videos with helpful hints on a wide range of
topics.
We also created a new business unit, Telecom Digital Ventures, to
act as an in-houseincubator and focus on developing new business
opportunities.
While good progress had been made during FY13, especially on the
cost side, the market inwhich Telecom operates continues to evolve
and our business must continue to change at pace. FY14 will be a
big year for Telecom as our turnaround gathers even more
momentum.
Take the easy road
Telecom shareholders can choose to receive all
communicationselectronically. This makes it more efficient and
convenient for you, plus it reduces environmental impact and
cost.
You can select how you receive communicationsfrom Telecom by
visiting www.investorcentre.com/nz. You will need your CSN/Security
number and FIN on hand to make your choice. Select View Portfolio
and log-in. Then select Update My Details and
CommunicationOptions.
Introducing
Telecom Tomorrow
In September this year, Telecom unveiled a new online
communications channel, Telecom Tomorrow.
tomorrow.telecomgroup.co.nz
With the rapid pace of change in todays digital world, keeping up
with what is happening in the world of technology and
telecommunications is not always easy. TelecomTomorrow is aimed at
providing insights on digital living and technology trends. Have a
look and feel free to share any of the stories or videos you see
with others.
Talk and Text to friends
overseas with our
International Extra
$9 per month
90 minutes 90 texts
If you have friends or family in Australia, UK, USA, Canada or
Ireland,you can use any Telecom mobile to chat for up to 90 minutes
and send up to 90 texts - all for just $9 a month. Go to Your
Telecom or bookmark m.telecom.co.nz/yt to set it up on your mobile
today. telecom.co.nz/mobextras
02
Table of Contents
2013 SHAREHOLDER UPDATE // OCTOBER
Building NewZealands
biggest WiFi network
Following a successful summer trialperiod which has been extended
through to spring, Telecom is expanding its public WiFi initiative
and building the countrys largest public WiFi network.
Weall know that Kiwis are better connected than ever before, and
internet-enabled devices are now in most handbags, school bags or
briefcases. The explosion in the use of these devices allows
customers to be better connected to the experiences andinformation
that matter to them.
A large-scale WiFi network has the potential to be a really good
way of helping customers make the most of those devices
on-the-go24/7 and will be very complementary to Telecoms other
leading networks in mobile and broadband. It will enable us to be
more relevant to a wider group of customers.
So far this year we have already added hundreds of hotspots to the
network, mainly in Auckland, Wellington and Christchurch, and we
aim to have many more sites active around thecountry by the end of
2013.
The national WiFi initiative is being overseen by Telecom Digital
Ventures, the new growth unit within Telecom set up to focus on
highpotential business opportunities.
Waiting is over.
Ultra Broad band is here.
Telecom Ultra Broadband means super-fast speeds and better online
experiences. No more long waits for films, files or music to
download and upload. Fewer loadingbars and buffering wheels. Its
the Internet as it should be.
4G LTE MOBILE on its way
Now that 4G LTE technology trials are complete, the network build
is well underway and 4G LTE Mobile will be live in parts of the
country by the end of the year.
This is another way we are helping Kiwis get better connected. We
have continued to increase the speed, coverage and capacity offered
by the 3G Smartphone Network over time. 4G LTEMobile will build on
that, working seamlessly with 3G and Gen-i mobility services and
delivering a great mobility offer - taking our customers mobile
experience to the next level.
All our networks will complement each other in providing customers
with the 24/7 anywhere, anytime connectivity that is increasingly
expected.
Your moments captured like never before
The Nokia Lumia 1020 takes photos and video that noother smartphone
can match with a 41 megapixel camera sensor, PureView technology,
Optical Image Stabilisation and amazing high-resolution zoom. The
Nokia Lumia 1020 runs on Windows Phone 8, the only mobile operating
system on the market that hasbuilt-in Microsoft Office
Mobile.
03
Table of Contents
2013 SHAREHOLDER UPDATE // OCTOBER
TELECOMTURNAROUND
Network for Learning
Telecom has welcomed back a former teammember, Matt Crockett, to
the fold to take up the new role of Chief Turnaround Officer.
Matt is leading Telecoms cost and business improvement
programme,first signalled at Telecoms investor day in May 2013.
Known internally as the Turnaround Programme, this is overseeing
the identification and implementation of initiatives enhancing
Telecoms business performance and capabilities acrossall business
units and support functions.
Prior to rejoining Telecom in June, Matt, a Rhodes Scholar, was at
APN News and Media, a leading media company operatingradio,
outdoor, publishing and digital media businesses across Australia,
New Zealand and Asia. Before joining APN, Matt was the Chief
Executive Officer of Telecom Wholesale and International, a Telecom
division providing wholesale network servicesdomestically and
internationally.
Gearing up for the Data Future
With bigdata becoming increasingly important, Gen-i has continued
to expand its data centre capability, opening a new $10.5 million
Tier 3, data centre in Christchurch in August, and announcing plans
for a new $60 million South Auckland data centre to bedelivered in
FY14.
The new Christchurch facility complements the existing network of
14 Gen-i data centres and five Revera data centres across New
Zealand, andwill boost the ability to meet growing demand for ICT
solutions that harness the speed of new fibre and mobile networks,
such as cloud, mobility, video and collaboration.
Our customers are adopting exciting new applications that harness
our fixed and mobile networks to deliver greater flexibility,
efficiency, productivity and engagement for theirorganisations.
Data centres sit right at the heart of our capability to deliver
these outcomes. Our expanded data centre capability reflects Gen-is
broader commitment to ongoing investment in the things that make a
real difference for itscustomers.
With the link between technology and education becoming ever
stronger, Telecom was selected in August as Network for Learnings
(N4L) technologypartner for the delivery of a fast, reliable and
safe online educational environment for New Zealand schools.
Gen-i, Telecoms ICT services division ishelping N4L build a
solution encompassing managed network services, internet access,
security and content filtering.
Telecom is proud to be contributing to thisexciting initiative,
which will leverage the Governments significant investment in UFB
and RBI to deliver critical social and economic benefits for New
Zealand. N4L will take New Zealands education community towards an
exciting newfuture, where technology is leveraged to enrich and
broaden the learning experience.
2013 ANNUAL MEETING reminder 8November 2013
10.00 am
Conference Centre,
Level 2, Telecom Place,
167 Victoria Street West,
Auckland.
To find out more about Telecom products and services, visit
www.telecom.co.nz
or visit your nearest store.
telecomnz
04
GRAPHIC2g607321tx_pg04.jpgGRAPHIC
begin 644 g607321tx_pg04.jpgM_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%DM;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#M`P,#`P,#`P,#_\``$0@#*@)R`P$1``(1`0,1`?_$`14``0`!!`,!`0$`````M```````&!`4'"`,)"@(!"P$!``$$`P$!``````````````8!!`4'`@,("0H0M``$%``$#`P(#`@*`$Q&)A,8NMM+W;6_4&W[U2KMAFQ(\$R9)`/F&U_FSTRNDC_Z3.ZVB^*.^GU3Z]1SD,3"Y&49NM0NXK;2Y`O^6U7^+Q>?AC]7N\DU#],5RL9'[H#D;D:>6=$ED1NUU"?F=W7]EHMB]_+K-8O()"HCE/ZH``#V5Q?A)I23C(6D/L]M8R=:,6020H,TC%8UC5\GHB*GUZQ.3MV6NPO$=]5I[J!&VVXV6C2_].OE5H9==M1TUF.Q@4XOBCFNFF3S_'\W?K9?&^MV''G297`,DW;>2JB./)".(F46`W*!;3MJ":PO!^E$\&*)^8Y27>38QPE@O\`^,W?OU;OB9\M/F38]OQ^7.,N1:.(=YBD>Z;OZDN:TAF2-HL4ZIU%WP))9,'CW154H!,)%M;RMB]&A"69G;JPN5'@*K!E.T+9T)(2!V`+:@L3\0/M.FE8_U&KTL]2$5=ZNEM*/TMD&M>:04L:DM_I2.H)M8"K;D,SS8#\]D1M,^JKY;$#^ZVZ_P#3M5T.S($8(]7MKF?2'5].634E!)>4-4+7I'5QQC@RW-K%(596`$;(S)C'GE22GPMM(D2(>.)O;TW-:WLO4?Y7C\CCH2QDD\^74^7&=BA]5%QJ&"_B#7`-ZN4YF7(M(@@"/;\%V4,/M1A=OLJ0Z9^3/N],#;6157!85D)L5;6E1213@YVKKR$MPHSHM+4^.[CL3_;!.%CBB;!YHCNZ*O7&.;DX[T_.GUZ^Y^6X_D.9@Y/C(!!QI*1,I!`:7:2SMN'Q1R$77;^$Z59I+OM+M^5J(Q/IUI'N_*.=)ERR,LT4B7&U?B\SIL8V_"G50/;6:P,;BR^BL&OK>NRM/!K/%2L+8;'/5(Y2Q2&.5R>H0UJ.@D)1WB^9C41.RK^'\G7EWN*2">8X2QR0MS]+N+??]E;`XQL3R"(2"!I6RV7UU!1,AT-Y(\:&F"D/:4Q6QCHR%'?UGK*GIMN)[M[*CE5O;]G6,[/E)TL:Z=OE;M:\@?)OE0DVAVEEELU7UPR9BP&';,[DQCG=P2RR"=9')87)9=I)MM"`"VB@#W5#9(V&%5[,A>QZ/E:S\C55>L!R7#YG;\_P"R9H%EQY`UQLM`QV:;%M_`&/3\?334#7PJ'G%Q996C9QCA23=[G7K86\1[>GC5#%;CZF3]YIHM:585^CM@JH2+.Q$4$*I!9^HEC@I313-*"GG>LDL\:1>BQ5;(CE8JIE_DSQLDN$KXRXLMT"R>5&&W227"ACYA^%@-"+G=^(6JUF#YZ-,)))I4T#.%N`/9M`%CX5CT/7;2MV4+.A5+FY6*[K**RT=J4^&FR\MFII+2K$J0>4F"M.]MY,F*XN:7D_,8\N,83"*-=TDJQVND8!VM(`3=1'Y'/0-%'N;#4_$S@"MQ]Q]E?&CTAV'TDM?;4]P$NQCJA*J5"(I`,S:A#^I4V,[)I',J#;CTD>])&))M+`]BN1$5.^5X_A(>4Q'Y#"FBE@Q-\DAMI)$_\:+J3Y@L=H"W4$-8Z5D\W(QHM95ARH6CRI!=6NK`CVZ=+UV;_`&W[BOV6^N":^JHR,_!F"3K2N##0F&&4]2/I)1D:PR0T1'LV):#5:M/1?=-=*Z-G='JY/'K4F1P8P?(?:F)\SO6)&_"!\*.#8I(UB5UVD^ZLAMF9+9)@>#8;]3?4?NBL>DM]MR'=-?33#2UMMGGM5E2%9$SDA4MJ40&.K)\>*BG1ND:\DY(T[9+DL7LO'2#.[DQ,?C>V2V_=U7]418@Q_FWMX];UK1/8T-CR`5019_6M2U\*Z5YXF-IZ$*[;05(OHXXRG08>0:]]N.:R*>5\DTQBRH_\LB(B[MQ>(S^*M[6@Y3+RXDS2L.PYDDLD!DF7_`#A)0X4P[]MPE]L>HM;6K+%"YLJP@J9B6N"?M`=#5EQ5GH,QB[&YL1*2,7)Q/,\-\;\QXW$.WA?)%#7W5GH)867Y%,M-;YT-O@&V3M[3UU=''+$Q&,:YJIX_7MU'?5?LG#].NW8NYL:)L[A,V.976*0M[('C(*3'9O4!V9P#?XE&UA8UV]NR'G'>',.R6*WEAC8D&^[\EA73E\C^/]21MD-I12TK,KM+N,E,7J8*.JCAKM!*7'#%0RRS1"*.=:,2-L1P[TDU8TQ>>BP^X\#F,UF?B4D23(PW\U!Y2`EW5%%F1`1>(J59`0#?2MC8F/%)@/BM8J1G-O\`QA`##W!CX5UB7^"Y/XZN>5LIGC^3,%R3[0'RZO_`)D_##`D(6DK"T]%6/MC\>R]:RRL?M+O?OJ'O'/Q^/@Y3#Q(S+%-#'OAF$;":3(GWJ8RB`+)"RN@4_#MJ6KFV5GK%^RH))QB"Y`5NH.H4G\)TMXWUJ!4',>%X[J3^,C[GD6KK();*TWXMEA2._5[7>-&?61YRW@#)&&C9G+15+&MW,?80.[P^FGDO4AY+LSN/NKD/Z:8^M/Q$F>GE?+.N02D6&H$@F@Z!HPMWGQ734I!L%1KG9L&])\94)GF]5W2]*_*[XOZF2))_7A@MFA?#+$U_5;TJTS_&7(`@W`^4MKZD_4'QF14Y!`=AEIS:;0V.TQ@EQ7.`BM#:M')[2TG-B'B-'F(CF>,1-*,D`+A>,\^V5L?>\TVB=&]Z(JI44K8HWKY+W[(\UW;^7KM$\U+_F]SUM4A[:BMGQO;3>/W37DZ'J&VI][8/8Y[/U2:-%1/S+`Z59%2I_M'U@YI7@/3K4JB(D'LM6S6%L$KA_.W:K$8Y6HO;P3Z_1$1>W95[]=(*VV1)/OVQ2(`V5JIW8Y7*Q4[I]>W;Z=7.%#YAVD:UA,Z)8UW$]:W@AJM6:"L@A5BM5(VHBN;XJOT3ZIW1.WUZD?R`EBV>T5!-75H0R2(KF?F_C_G7M]$Z[&4$Z]:XZ`:=:^B!AE:[NQ.RM=^S]J_\72PMKC56*UK!H&,_HMAC:WZ=OHC41/IU6E03?3%2Z!]E%)A-O3;RF=6%L#M4BUI&%,@`M%>/.IE&5[KN0-^1)G1L57)XITI6)0?B;Q=6,HF`.NHW4A^B)0@MQN;NS#@-%J(M3^ARF7V;LR*VNHY18`:Z2NQ.*F9M&R.-#9&NC:R-B1=+TJ@QOQNX]PRV\-*MFM;=9@_+%UY$&;;(HEN%6A7!;K\+M/!:PHRQ_3&RJV>PE&AFFE6&*-JL:Q>E5V6X'HR,U-7AF\:5^G/2HS502ZR'Q$487HQ20@/=&TAPZD]YE7I5O!^-V$%J[*E+LM=1;U=C%F0?:6-A7-8)29'D.PY*HZ`=]=4`2R5\%Y:30223NF,F"B2=M+TI6_'+&57']EQR'86*45F553S++G^-YD46E$%!KZTNI?A/W;N1FCAL]28\$MHV27^M]=)&QN8O2K35?%K"4$["\_=ZJG/#+@MJ>U@3)$WE5?-(%*/NWZ"QR9MM[H2;B6"7W4-N38".:80C(HT>Q(UZ5M;@0:^O='*=9U_P#7E.>4U\4T+(FE*C)UUSJW1::VJ]5K#K;`I\GSF5)O'#Y:M\BO"W_&=IQ9AFQC@U85V-H,C%(X,^!Q-FX5\S89F/];II2OPKG'Y"TD6AO;"MCJB1HM,-C(LDN.1FVDU#GJHV@35NS?OGPE6DR!GSFK+&*XM=$6I65^1.0.1\GIKL=EE2?D980#$ASPG5E8/-=(8'Q]?$%:CPTW&E7)FK&>VSN/B!/OFCD-';!5]EFM'4HDD;V$S`O9WG7-K!9@DY33!MDD#((6QZQ'0Q2N\7QR=W(OJ,;]._CUE]ORQ"R_BM4-GROV@WFQ@@GP/4?;78M3QE,3!HK,6&9\EIB"\,867AE#^1WU%NQ-+N,'44`UK+%3DZO/8R*HKKX,N+J@`I5R`Y.YE%MA7D:2IKMP'@X^EH0J7):)R=MQUM:">S97H'[.6]G`I/2CA9.4IEHM:C"G2O8J^DQOH1HY43\$ZS\OPZFU1P]ARX^:,A,B66,?FD$*/=[*]`_MVXJ6I.+L@=;%%;75)GB1Q96RN])MA)"C&2E#>/H$2P.151KOHOX*O6N^1?YGM-\Q>E[VK9XMU;AOL.E>-U!*@O^*N15[?5>_\`'U6JDVHB]T1?P[HB_P`Z=*J-1>J`MRVJJYSVV%E7@NC`-M9&F#.95UJCML;)Z3R,5H`#BXDGF7^KB65GDJ>2=U*MM(6TQUBXIE?K,R>\$XFL.:%?593@[((4DTRO*;`4]1SA`@III8G]I(XHGO4C+AY"$1^F@ZR*_U&]N_DG=2K7)RCQG$,ADOM(F&B#=:OHFE2:RA8.Z[C4=LE.V9QZ1K:,4N+N/W]5/59^7\R=U*Y9^2>.QF'M2$[WLK+>*@LGS:>DB97WLR3+%3&N>P[_&5?3?^7\KNREPY+MPF##O"]3JJ.KDSV6N=I95D]F"VZ;F:`$RQM;:"G,,NZP86^G.8R0*&F(F*9%:2F1RM-=$V!7K(CD5O=%3I2HCH.:N+?N]G1C7%3=YZMCT0+K("*7*S:JL,MZ([3>Z)';451X(3G,(D7P57,:GUQW9S7M(BE4-CO,E75Y5@M_3F,&!#L4'!MZJ4HD:RA.(JGBLD.ACE2VAK"7"JKVMG0>M16*J,=VK:E67)\KY'8RWS*V/24COM;6P(91\U&]7'LC9>*,'*YHKW-F5&.7Q1$544K\'Y:XYE)J:XK7T51;W.'AY(M$I;NR#J[5N*D1OJ7Y`I4[/1`$>Y6SR*Y61.:[R7LBKTM2K^1ML8)0CZHK79@M;,&/BC$T9%]50T)3YY700L'MY"VU\SI9F*QJ-D57.143ZITI5JQ_)>)W(&Y^XAU=K45.>WF;M7Z.@J-%ES!MKFK]AJ1;FQT%8,%G)I#&2V]O"5FB?7%B8LL*>'DB*[LE;&E2ZQQ3=&,89MGG#::EG;>B5RSI8$TZQFN2S'!465)GP^;8O3?Y*GB[LI7-4[W#7YT-71;/*7M5D2'-8#U]3HJBQ.(`'G^&JN*^**7\&LA+>YM51$ZAW>&`T^(,B(7F7]P>-;;](^-C1PLTEMZU&>[FR,Z,GQ]T/%+TOK2H;2?$"IK:DVN)THL\\W&FMQXN%LX:*V)/;3Z7*T&2K[,TG3;'33R6E*!1JJ1B/"">V=8XX(6-_,O2N.W^)M$EN\ITNV":&I%]"!G?T771Y4:HU8UZ+I87U87)@1\9-JRY17BB&"4".CE5M8MQ3"%5>E2?DWXVGE9``X)I0]N]!X$"),L(Y,A]RLBDHKY/5C23MY+]%Z5@\SX:$294K)UMO(R5@A&8?B934IM:986&;%I;BJH'W)GLM#1GU>/UEWI,Y!#B!!;R2"[J>4*^4'1:&:X-DN)MQ)^3IIHYHX!D)87J0O2KD1\8+PBKJ@G1$Q$E"_0``10%175GJK9L"$/(DBE8+#Y/EE>QC%4K$[OB]R`&!I1*"^MPU2R_P`]R)BH!)!K8R*JJ.0:6NKR]"VTB"!O;L^N+J(7"5UI.=(/%)(S]4D:MC&HO2N9_QU7#$DPN9,ZE*U?Y%^5?(EEMF8+3B[$$4D;BM!=A7VM]_6U]_FW>-*Q)E/E#811ZJKW>=D31Y=[YY(QZ@G#E25\QO%]97-MMLI?WNC,H#S3>26NA3]0+C(#&;,BQOG0>-:E2"7Y'V>>X:Q/*.SP*QV.TCLAM`,WD]!'=(3HUH[NUQ^/%GXW>A*N($?[:?)ZO9VBPF-UU54!TE9JNM./THRDBRUALOT_:5-T/44FYU349C[,ITGEY*]Q4ZK]9I%FT-UM(@=J^GIA;BVOY?7T4K!"G0,*)LI)*J:PLD,I"IY^;^E*N(G'&`!"T5:M'BLL-7ZY9?WH!AHJU@E^DRD+)';#H/Z1T+GES.\)$E)@V*E6XSB3BZP_6?>M\>XTK]X;"*UNUGSM7(ZTLH9"YF&F.M8DO5.YW=9I5?6YI7U3MXWB^:RN+>BS6+FM4MAAKL^MJZB0J&[SY(E@-`;+!"YP]E5&Q0$(U?&2.9D,^.[$5T5+5`UC'##E6!T$#VA00H^*(MVV*F:U>Z)*3*_P#I2/55*D'2E.E*=*4Z4ITI3I2G2E.E*=*4Z4ITI3I2G2E.ME*=*4Z4ITI5"79UM>Z-A]@"$^5'.B:66.,Z1K5:URQMFD8KT:YZ(O;\%5/X^ME*KNE*MS+>ID%.-CM*Z0*LE.@LBV&C.%KYJQSVV4)Q#95B$EKW1N2=LBM6)6MKY=NR]*5R`V5=:1/FK#PK&&.1(I)02H"XHY70PD-B?(/)(ULBCD1R(U5[^#VMN_!455*K>E*I$/!4YU6AHBV;1&GNKD)A]\T%\SQV&N$\_"248$.:).;7+`VP$A)AE*M`%9GL26=T4+W(QO=RM:J]NR+TI5%0Z&AU-4->YFZJ]!2F^K[.VI3Q;.M+]"M:0>91C0Y9AITCGB4.?#)[&TS7-TVRL!M;QW3'1#E0R2FZ9+)H@TF(-,D0:-7U2TW`Y,X>E?($W/C*25K2X/JKK?CNMFM;NWNP[/59L(B//[-Y0ZB!'5CV(KHT=.^%K)++'XOI#M7RKZ6.&*%T=M.]IGM1&_FS0W`)`=2-KRYM)C+GCZLQ^NREPZB/`GY!V-FL0VM@T%2_2U&7X\T9V%"4R$L0HK-V&R&%B@2>'UWR$?%DSD>W&;>RNRUM#([,W1C;SV*XL;GF&81L(82)M'$RAH:1VEW)EH#Q'+>'`%I`I8_?>T,I9>W6V0M>4(.:\%X#HV`0NTM0U)9X77;+EMN8N;&Q_-(BV-X;&'16[AD['$ORV8LQ+:64=W*YSM,0@EKI>)'`,Q[*.TDO:Y@!ZC22UH.HT5M3@;FQ$57UOF='"U9'(C$\W6LXO9^Z\_BMKO.83&WEWA[!M;B:*)SXX1I+O&X"@(:"\@5+6`O9JR,7MY7-597=$NK[[]F*;MK,_.4L;Y&1>RRA[F12-BD+6EMNHZ'N:UPI4:FDBC@3:NZI=-6VK[_`.?L7[#&]C'2=0G[K]*B^-B=$3HB=$3HB=$3HB=$3HB=$3HB=$3HB=$3HBZ:?S0&.?N>(UM:G?ME-1W_P"-ZKK5]P?;8OV)^F%E,>*L=[H76D+$[LB>557_`+'Z_LZU]7ZOMD`[NZ?=^/Z?ZO%>BI2BHKZ%?Q(G-5$1J_9^[\4\>J1>0:SRCNC95P6$J1#R2S1*YS(4-(:UJ*U&^56_KZIRVMS=PONZESFBH"N06GTM+O!X2YB"O*L`R$^";UH8Y$?!+WC5DC6/8Y.Z]_O(OV]4+&Z#V@W/A?ZT(;1;MDB;F$X58V.:^16?!KT5WP[=U3OU?R/B_4D=BHM#0[AVKJ]]Y-S6U]M5WI+Y&MRA,(ADC';'ZDB0L62-L\CD[LC>Y>W?NG;J[LRZ2*G;3BK6\TBBT+Y?M=X3[?M?\(/CC434PM#6%GS`5JI+'&96V$@LJS$.1WF?%&U'JURJS]75M+E#S?99&C3MV+F=WS;\Z&UFO*7"\FU3;`V*:.,FXK;4,>XL5:BQ+%"*7Y@I9WM/_L&HW[>R]8>^L,C9?P@N+H'=Y[/)?]CQOYG5@4N>I9J.O.'HA3*>1C[K1A5]MFRI-A*E0M;3`'P`?.#NVI*1G*CY6>C`YK&RMDDEV^#J/E(+."S?#&^.!KHR#)*UCX7&]Z286YO[K(,N)8Y;E[901%`Y\POMTN%K'JAX-.J0%Q86M96W7N7O-8-/6:S)UM_26X$,&GI9M+K`PKBS$)QYH5U6ML#L8V9>>(W$"ODC%8[UFRS1N>D?R[1Z>0ZD7N4C=;96UCN+*:,":,S3M;(]IMMW-D9I>.20ZV82Q!SVDZ>6([>PZ38["S-N\+>RVV0@D)MY1!;.?%&YMTQTM4A:1KG!VMLMEAEBY)(:\DDB@6XDCDL``!XJ;P^Y:\C)#F3'9V=D7TIMJ\\ZZ.N-`/6P:D/YM6VT4A++8QGT[6DCCS$/),%B9'_/RJWQR'Y4K]LL^5\DP8)VZ9M)BX2.&BX>QCGE\D;0WY1]%@'=)L]K`R*1Q=\FRJM0_.UM%'FZYM#5@TV[L-"[DZ"M+ZAY6[ZTL[@UQ,W_`+#N0N1$C3PZM3YF-_LRS\TR*R%^_%16==,E!+%,^?YPM`U_QR2264O=\`\QU&!'^67I\[$LPKI;XV#,M+>4U1U,4L3(!CR='\3CCBB$;M?ACEMJ\\5";;W47]WM]7R)-QYQ^+K-6#J./6)+J1W-T%S@&M8)7/EQUU)>6-R7R1.9S.5,*+(H*^LT.^=+FOJ]!19O0PO.)T\MQ>F@O*[/P+)%8.D'BD=)Y(DB=Z26=MUWRV+V]Z"..>^K;\VM"&WG!>ZY+[ELTEFDWMZXPN0>"TU55^';G!92?'YZTI+"IN@[1L+*PN5\X;YE'EF>BIY$;V66T\Q^\[M3*9?*.MK5S\L+-VELEU%[/-86KK2WEADAF9+01O>7Q.>6.>01I#:&A>]!MJ7M6.QF-$]PUF,]J:'&.VDY\5YVG+(G`Q>+J!#+ANE+KA9M*1#/J2^6!C6M#3;L?K.JNO(V'2V/#[BL[BRF6M[]-QNFYC;#WQPEU3Q["74(![ZA%D;D'W$4_'9NK6MQRFALJ#&S3U%Q=UD]0Z1^K;QZ3R8)GP*@DXP\BM8;F*WJ;P_*U%T91G9VQSHP@-&[/6;LEETE\R&V]A9??,^YMMOSY7![UD^4@COG6CX8S-=2N9SXXG2$D7(:'QF)PT5';05]]]'W&`,E?;"=LCQ%!&'FOM4^?!VUJ=U1'+VUW)([_L^!MEG?O&_M!%B)T1.B)T1.B)T1.B)T1.B)T1.B)T1.B)T1.B)T1.B+6CF[$Z'M9[;BZNS)-R!!9DVU)R0:*-;0UD/&3'`:TEZ7`[651VHWY8"\6W[WR1MRN0KCD`9[!I$3S5KW^8)$MPLJ:+FN(*W?1MS57&87))R-3$/9;'7$JD4O9Y$D31F1*HJ1WMOY9#I9XJ`_#M4M@1@[7!$5@NEUL=+86UKQ_;90_ERP+9GU-FUMM;E"D%!K$Z26`1CGV#R?OJMJ$5\-]L6B@*K[FOFR5L?PL=Q*%?$@E0:O..TDVMNA7E9&UOM"W?RW%4C(-.S'\9TEOR+!8GX[6&R:M]MB#9D('^GV9'U%TRV$,SYM_45176N]J5O3:#`Z)L&%OR(\JGN)9=+75G)MX,@DDC&S3)6?*K,/$V!\9GWK3>7W35JBHJ\GR/J.,,-R9KJ>"L'C"$W(I23LL2Z0ACH&R$DCK'-#*U?4^6_MG$OE+!C+6M8Q'`DN6/U71RC30L9WZYT=WS>;TZ=;>V?LN^M]L=1;NROIIL;EL+S,=N*2;7M+-=QSAD9>P.$DX-O*=&ITZM8V7EADMM-YAV,TLBMGQESPUY;HBI-&-6D/9+'(YRZ4K^,ROOKT"Q'$"L0;JV"L`P6L8M"(JNZMFIT`]-!M"[RG99:FFK,GK0++#S9FMS!M)`JC:#8;/5-5:3M>1`\X)AL4:1#.@5D7?S)(U5%^:SVI4^MIM]O=DF9UUCK_P"E][##.U9544WO/;81:9+$YP*USM7+1YWES+6Q*U5WM:J(%S$,0^YM,L;;Z`RW&N:BR6-T:D$/A)B=(GE@;Z^UW%@\UE6?6JVP?6&RPQM1SX59YO*BJG?QZU+IUYM@NK_`$IPLVWMBY>2SPT\KI3$8;>=K)7-#3+%[1#*8I"UH!=&6UH*U(!6P;QZM/=/-_9*++[KQK;G)1,#!())HBZ-I+A')RI&"1@))`?6E>'!4.!]QO,W&6IT&MTQ^_M0M%K9GD:HT]`[R+1E233$?-W(5T.UF?XW,W?$>`JB\-:5.?'?R5R=-:G@53DM@FB%96.:/6"/IJHZKJDG1$Z(G1$Z(G1$Z(G1$Z(G1$Z(G1$Z(G1$Z(G1$Z(GM1$Z(G1$Z(G1$Z(G1$Z(G1$Z(G1$Z(G1$Z(G1$Z(L;W/#?$>CM#+O0"O\`T,VM_P#9MG^\J\_*?U)_K!FOOVY_?$_H!X*_]#'%7_5_E/\`O3T_(CT9_JGMO_9MMG^\I^4_J3_6#-??MS^^)_0#P5_Z&.*O^K_*?]Z>GY$>C/]4]M_[-L_WE/RG]M2?ZP9K[]N?WQ/Z`>"O\`T,"O_`$,V_\`9MG^\I^4_J3_`%@S7W[GY$>C/]4]M_[-L_WE/RG]2?ZP9K[]N?WQ/Z`>"OM_0QQ5_U?Y3_O3T_(CT9_JGMO_9MG^\I^4_J3_6#-??MS^^)_0#P5_P"ACBK_M`*O\I_WIZ?D1Z,_U3VW_`+-L_P!Y3\I_4G^L&:^_;G]\3^@'@K_T,-,6")C-4>^*4[3909%N9FGR(X0M>4FEH4ITJI)LP)6CQ5[EB50HQXVPJQK&HD$7UEN"N$2:[1S9II6Q""9HG5B%^GKZ]_S$5KMG[GOF#%64[AC>?%E!D*D_6@I5Q6\=LG#PSI-9PM+22B'T\[EE/(R4.HV7`%""H"IS>`%``U9\0\E.`/GI3XSQ33');];I[)=YN$8P5RO?9EHU(Q>148S6($)6H44CHQ$$S2,M;K`O\I4%,#J*?P0\J[OY[9C9R[=QF./&V34/"QH^MV+$EY&N+MW^J]O778L'MAF)@X;MN%Y,H#J6(93ZU]5>7'DQAS'2K`AX?,&[!ZNDMW=H,`-\#,$"%4``,(=7AKTSQ3E&_2RP[5R*QB>%6CDM8ZGL0C&]B1^#7+^0;M#@)XF;MS'H/:7N%RC$G6'XB/M2B02AL(A7?=-N688S3QC(?(\`*3U,QC\7P@/QC'[=OQ>M5-2WM?K>WS^BKMLMQ-D&CR982QU9^UGD89Y+2D$Q`DS,U>.;/95C(-[+CRYD\J+C0@F1KW"6[=5KD$7[M.WKV5,74`L2+#MIW7?`&7\_4M9XM_S+47\S:?SD^8'\,[E_K$GYU/&E_&-']%IZ;WZC7%O^9:B_F;4/YR.?\`M\,[E_K$GYU/&E_&-??Z+7TW_`-1KBW_,O1?S-I_.1S_^&=R_UB3\ZH^-+^,?MIH_HM?3?_4;XN?S+T7\SZC_.3Y@?PSN7^L2?G4\>;\9OIH_HMO3@_4;XN?S+MT7\SZ?SD\_\`X9W+]?)^=3QYOQV^FOO]%MZ/3:K05]M1?Q67(+H7D6!T#G0C-E4&)TGLMA1%NIU!$Z(O$3YFYR4CS/\FR?::-C(MWLUR]_6:U?BJ=_AUY3W*_1O.Z+N7KC_KKM^%C)P,!/Q3`WZROKB[RUY&\9*BMWR'%.5HKO7Z2*&Q*.T[YB*VN'A;V8.)6#OCD,)?Z%^\YS6-_3]G74XMR1VD3M1$ZDP:!]18.UV1?9V\,L;2;6OD)69.&?J/\`-XW*6]Q3"G#)`US8NR>OMV1>Z]9#';J$KZ7;ZNKS62R?:R^9&7M6;2*#R+N;N?.?@JMS`.DD?IK6$X2&>`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`8FJSCG/PC&3"VS[R25XD3WN]T>&!60M-9X:XVUMP7/:QK4E3B5BFYI-7PIJ=OE]/;R22M$:H^4DHU\,D@@`T,%5$'`DC%;\M)'7MFC3LJ^F1?CW7K08?5[2X?:W/I!I(JM/,O1M[0WN+3ZZTZ^S-IA\M:SW16+Y3^17'VCX^4_*U@%`A@3%(JJD8(%(BW1MSW6'W7>GO)[2K]WOW]/Y.B(@PZ1RQ)!"D4[I73Q)$Q(YG3JJSNE9Z?3(Z9M7+ZU5%]7?X]$41C&1M:R-C6-:UK&M8U&M:QB=F-:C41$:U/@B?8G1%#B'@@9M[1WMQ1,C9ZIGK),[TL:C>\LCE.^NO0>U['M+7-[D#-MM4=J,MFMC8YJ[IZ9I-J!\U'`]E9(DSB*XA&(U5@CA1Z/8GWD15^*]=0VTP7.M/'5'`)'JSRIY0C]7J]/;M:L3XMKW^"=NLE#PC'N*VG!'I>"T95Y$0WKGG;[$5C514[=7[CZ(:M.:PFNKRK9KA7J[5ZR5\B,BM:BEB@[=XO64&65)*J_P""YB"M;^P[K%.N1ZZ;M(_'TZO>YK,LM2[$B;RNHIY/0Y45KD>R5/[F]T7MUAFSM>7>5JR3HM^E1I\14>^L..-CM?M_089P;Q`/`GQ748]^6MI;R36Q,DKVBC/)3P"ZGK'G&[V',8'(7(=E8'"G&,IMI63R$G34F>.9*)-^'ODDD,B6(N2.5\C%]*1J4577A3BIU)^K;L12OH5+8^D\:D?WT1^B"(3PYQNM380VGZML$.A)A)6>KL[JG^9:/69:GC`L(ZJR#BLZ5:[$U,;@"&RA2?(1.=$KMD555122\&\9J..$^DLY:\649T-9/K]G/5-#"F%(!HUJYM#)7ORP,X,+H*AT:MUXIM`Z4JT)*4HV9M;?.@S>J17=E&8U$1B*U545.*X0XQ*/L+3]79Q+"SD?B@G@D^E@'B/DS/#3?(ZX>15`40G,6EM=-G>*H]3;,5E?7%U("ZBY'F(QJU;_W\7(Z+)7UG;S,+`MX231LGK[VXN_M1^IRJOHB_P4^QOY.HGAR4Y4QW5SG/Y7O>[X)ZGO/\`A7FJBOWD7DWD#E[5M$;;DW66NSU)(%34+;6JC,^5I:$"&KH:*JKZ\X7_(V6_H4GV%B\]_L2Z_B7+]-OKP&N$IT1.B)T1.B)T1.B)T1.B)T1.B)TM1.B)T1.B+"/*-%L+;2XPBH&V%CFPA+EIHF*V@^+-!U4EKE9\[?7DA%M51WF;M`JQ+.(@-S3V.4A$RAOL_F+Z[J!*XZ&P(3_`!/W)4C?'-$R'"O%%7+?CGR1MK[#0TF'U5N+F[D_924]MH=J1?G92#.@RW_&K19KDFSNS0]?KKN8*V9-+*^&KMKHHU_FE8U'!%:-EQ3S[:5$E.PWD8H:ZKM/3N`T>X94@T`MY105DQC[;/.-Z*HL5B\)\YU]187F'GU6)V%@#GM*B`:\Y%?B4]SR1OM8`)C=!6UI]5E]3H.4[JJI$`CMW>,'?J!M7I0KHNS2V]@D:6$5T'IKW0&1J$68M)1>/_`'G.2_\`MU39U]-NV'_3K"_\`#HOK*LWDJ#]-TOQZI?-C@':>5.WJ\'P5QEL6\J;&RMJFMWO8+LWCP6;38['0U-)76AID^GV@-?`]KHTA^627UO:G;O6[@MSLVT+ZSVU"ZM?-7,/1C#7-;I$IT22:G$`:(RX\ZUI0*8UIPYKN@YB^ICX(^77C]N);.FY.X&MY=X@\[N,?.;C"JY;V,O+=QR#?E7F^'LEBN1@9SN+^'MN2L=>;G%75MK\M4YPK8PU-!82%@NE8/$*HB.D=-/*/!CL)M3>UY^@K&YQT^/M;C%[8Y&M8]SA'J,K&G(WEC].'R=J>:*OB+CSQ8M\DNV3\E3Y[;:7D@NH\Q^/HP\W+^.!\J1Z$,K3L-E??!NF3VQWIM$4LMO:;#W98;9S^W9;1UU?Y+'V\D-V71ZW.C9$'6,M7^B8=+A"6CINIQ,!U;YMC>M+4'B7]2;R3Y^Y6PPV>Y:2?R?XRY5Y^M-WB-;EQL)4_):%[\58+4D"7:1L!`,M+=/$UL