AMERICAN SAFETY INSURANCE HOLDINGS, INC. - SEC ... a larger player in the specialty insurance market...
If you can't read please download the document
Transcript of AMERICAN SAFETY INSURANCE HOLDINGS, INC. - SEC ... a larger player in the specialty insurance market...
-----BEGIN PRIVACY-ENHANCED MESSAGE-----Proc-Type: 2001,MIC-CLEAROriginator-Name: [email protected]: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQABMIC-Info: RSA-MD5,RSA, DrpXtTCHY1cuTbDAtn4h9UnGFkXwbYz8olPTLyw4w2V3A+UvigHfc7F18g3rvQ10 3thDH5ZeGwz8uYRvUGTekA==
0000950144-06-005984.txt : 200606160000950144-06-005984.hdr.sgml : 2006061620060616172136ACCESSION NUMBER:0000950144-06-005984CONFORMED SUBMISSION TYPE:FWPPUBLIC DOCUMENT COUNT:31FILED AS OF DATE:20060616DATE AS OF CHANGE:20060616
SUBJECT COMPANY:
COMPANY DATA:COMPANY CONFORMED NAME:AMERICAN SAFETY INSURANCE HOLDINGS LTDCENTRAL INDEX KEY:0000783603STANDARD INDUSTRIAL CLASSIFICATION:INSURANCE AGENTS BROKERS & SERVICES [6411]IRS NUMBER:000000000FISCAL YEAR END:1231
FILING VALUES:FORM TYPE:FWPSEC ACT:1934 ActSEC FILE NUMBER:333-133557FILM NUMBER:06911064
BUSINESS ADDRESS:STREET 1:44 CHURCH STREETCITY:HAMILTONSTATE:D0ZIP:HM HXBUSINESS PHONE:4412968560
MAIL ADDRESS:STREET 1:44 CHURCH STREETCITY:HAMILTONSTATE:D0ZIP:HM HX
FORMER COMPANY:FORMER CONFORMED NAME:AMERICAN SAFETY INSURANCE GROUP LTDDATE OF NAME CHANGE:19971218
FILED BY:
COMPANY DATA:COMPANY CONFORMED NAME:AMERICAN SAFETY INSURANCE HOLDINGS LTDCENTRAL INDEX KEY:0000783603STANDARD INDUSTRIAL CLASSIFICATION:INSURANCE AGENTS BROKERS & SERVICES [6411]IRS NUMBER:000000000FISCAL YEAR END:1231
FILING VALUES:FORM TYPE:FWP
BUSINESS ADDRESS:STREET 1:44 CHURCH STREETCITY:HAMILTONSTATE:D0ZIP:HM HXBUSINESS PHONE:4412968560
MAIL ADDRESS:STREET 1:44 CHURCH STREETCITY:HAMILTONSTATE:D0ZIP:HM HX
FORMER COMPANY:FORMER CONFORMED NAME:AMERICAN SAFETY INSURANCE GROUP LTDDATE OF NAME CHANGE:19971218
FWP1g02062fwp.htmAMERICAN SAFETY INSURANCE HOLDINGS, INC.
AMERICAN SAFETY INSURANCE HOLDINGS, INC.
The issuer has filed a registration statement (including a prospectus) with the SEC for theoffering to which this communication relates. Before you invest, you should read the prospectusin that registration statement and other documents the issuer has filed with the SEC for morecomplete information about the issuer and this offering. You may get these documents for freeby visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, anyunderwriter or any dealer participating in the offering will arrange to send you the prospectus ifyou request it by calling toll free 1-800-388-3647. Please click here to review a copy of thepreliminary prospectus.
Filed pursuant to Rule 433
Registration No. 333-133557
(This filing supersedes an earlier filing)
American Safety Insurance Holdings, Ltd.
Providing innovative insurance solutions for
specialty risks in underserved markets
NYSE: ASI
June 2006
Forward Looking Statements
This presentation includes forward-looking statements, including our statementsregarding strategic plans, ROE expansion, acquisition plans, growth opportunities andincreasing net retentions. Actual results may differ materially from those suggested bythese statements. For a summary of some of the factors that could cause thesedifferences, please see the information contained under the caption "Risk Factors" in orour Preliminary Prospectus dated June 5, 2006 as on file with the SEC.
Offering Summary
Shares Offered
4,953,087 (excluding over-allotment option)
Primary
Secondary
4,013,761
939,326
Offering Size
$82.0 Million
Over-Allotment Option (15%)
742,963 (100% selling shareholders)
Current Stock Price
$16.56 (6/7/06)
Pro Forma Market Cap.
$180 Million
Implement business and growth strategy and for GCP
Use of Proceeds
Ticker / Listing
NYSE: ASI
Bookrunner
Keefe, Bruyette and Woods
Co-Managers
Raymond James, BB&T Capital Markets
Expected Pricing
Week of June 19, 2006
Corporate Overview
Steve Crim, President & Chief Executive Officer
Become a larger player in the specialty insurance market Retain more risk Expand range of specialty products in core business segments Leverage corporate structure
Specialty provider of customized insurance solutions for small andmedium-sized businesses in underserved markets
Formed in Bermuda in 1986, and offers excess and surplus lines andalternative risk transfer products through U.S. and Bermuda-basedsubsidiaries
Business strategy: Identify voids in the market where we can leverageour expertise and distribution network to maximize underwriting profits
"A" rating from A.M. Best since 1995 provides a competitive advantage
Vision for growth:
Overview of ASI
Focus on underserved markets with a commitment to underwritingdiscipline
ROE expansion through execution of operating strategy
Increased ROE from 7% in 2003 to 13% in 2005
Versatile organizational structure
Attractive valuation: Produce a comparable ROE, but trade at adiscount to peers
Strong management team with a demonstrated track record:
Investment Highlights Since 2002 49% growth in gross premiums written (14% CAGR) 300% increase in earnings per share (59% CAGR) 33% increase in book value per share (10% CAGR)
Senior Management Team Name Title Insurance Experience Years with ASI Stephen Crim President / CEO 20 16 Joe Scollo Executive VP / COO 17 7 Bill Tepe Chief Financial Officer 18 < 1 Geoff Gregory Chief Underwriting Officer 30 < 1 Art Kirkner Chief Claims Officer 25 < 1 Steven Mathis Vice President - Planning & Treasurer 16 14 Ambuj Jain Vice President - Planning & Operational Support 7 2
Senior Management Team owns more than 550,000 shares of ASI stock
(approximately 5% of pro forma shares outstanding), including options
Organizational Structure
Bermuda Holding Company
US Holding Company
Insurance / Reinsurance Company
Segregated Account Captive
Program Administrator
American Safety Insurance
Holdings, Ltd.
American Safety
Holdings Corp.
American Safety
Assurance, Ltd.
American Safety
Reinsurance, Ltd.
American Safety Casualty
Insurance Company
(Admitted in 48 states)
American Safety
Indemnity Company
(E&S in 40 states)
American Safety Risk
Retention Group, Inc.
(Non-subsidiary affiliate)
United States
Bermuda
- -- Bermuda Holding Company -
American Safety
Insurance Services, Inc.
Construction Environmental Programs Run-off Surety 53 22 66 17 1
Construction Environmental Surety Specialty Programs Fully Funded Excess Liability 93 51 3 85 4 2
Gross Premiums Written By Line
( in millions)
2005
Total Gross Premiums Written - $238 million
E&S (63%) ART (37%)
2002
Total Gross Premiums Written - $159 million
E&S (48%) ART (41%) Runoff (11%)
Surety
Run-off
Fully Funded
Specialty Programs
Increase net retentions on the business we write
Ceded nearly $100 million in premium to outside reinsurers in 2005
Increased revenue stream without additional fixed expenses
Grow our core business and develop new products
Growth will result in a lower expense ratio
Leverage our investments in our infrastructure
IT, operational efficiency and senior management team
Actively manage our capital
New capital will be deployed predominantly in our Bermuda subsidiaries tooptimize flexibility and corporate structure
Pursue accretive MGA acquisitions that produce fee income andenhance our ROE
Business Strategy
Drivers of ROE Expansion
13%
2005
ROE
Increased
Retentions
Top Line
Growth
Leverage
Infrastructure
Investment Income
Growth
15%+
Target
ROE
Reduce expenseratio to 33% orbetter
Improvedoperatingefficiencies
Strengthenedmanagementteam
Increase netpremiums writtenannually by 20%
No additionalfixed expenses
Decreasereliance onreinsurance
Gross premiumswritten growth of10% annually
Develop newproducts
Grow core lines
Targetinvestmentyield on newcapital of 5.5%
LeverageBermudastructure
Business Strategy Execution
Joe Scollo, Executive Vice President & Chief Operating Officer
Underwriting Philosophy
Target accounts in underserved markets where there is less competitionand where we have a competitive advantage as a result of our:
Underwriting and claims handling expertise
Ability to utilize more restrictive policy terms and conditions
Limit distribution to select brokers with long-term relationships
Price each risk individually
We seek to price policies and use restrictive terms and conditions so that eachaccount is profitable
Loss Ratio Comparison
Source: A.M. Best Aggregates and Averages
2002 2003 2004 2005 3 mos. ended 3/31/05 3 mos. ended 3/31/06 CONS 76000000 121000000 143000000 149000000 41000000 37000000
ASI does not provide environmental insurance to manufacturers or installersof products containing asbestos that are the subject of class action lawsuits
Excess & Surplus Segment
3 year CAGR 25%
Gross Premiums Written (mm)
Environmental (written since 1986)
Remediation contractors, consultants,property owners and lenders
General, professional and pollutionliability
Construction (written since 1999)
General liability primarily for residentialand commercial construction risks
Surety (written since 1993)
Contract performance and paymentbonds for environmental contractors
Excess Liability (written since 2004)
Excess and umbrella cover for specialtyrisks
2002 2003 2004 2005 3 mos. ended 3/31/05 3 mos. ended 3/31/06 CONS 66000000 74000000 78000000 89000000 23000000 16000000
Alternative Risk Transfer Segment
Gross Premiums Written (mm)
3 year CAGR 10%
Specialty Programs (written since 1999)
Homogeneous groups of specialtycommercial risks
Underwriting and policy administrationis outsourced to third-party programmanagers / MGAs
Fully Funded (written since 2004)
Policy limits are collateralized by theinsured to ASI's segregated accountcaptive
Focus on underserved markets(healthcare and construction)
# of Active Programs
10
12
12
9
12
9
We plan to capitalize on embedded growth opportunities by reducing ourreliance on reinsurance
Steps already taken to increase premium retentions and reduce reliance onreinsurance:
Increasing our Net Retentions
Construction
Environmental
Surety
Specialty Programs
Non-renewed primary reinsurance effective 7/1/05
Increased retention by 60% to $800,000 from $500,000effective 4/1/06
Non-renewed quota share reinsurance for suretyeffective 6/1/06
Increased net premiums written by 38% in the firstquarter of 2006
Growth in Core Business Segments
E&S Business Segment
E&S Business Segment
Growth in Core Business Segments
ART Business Segment
ART Business Segment
New Product Approach
Target additional underserved markets in the excess & surplus lines andalternative risk transfer segments
Acquire underwriting teams with specialty underwriting expertise anddistribution relationships
Recent acquisition of underwriting team responsible for:
New product growth
Expansion of excess liability product
Geographic diversification of construction business
Financial Review
Bill Tepe, Chief Financial Officer
12/31/0412/31/053/31/06 Investments (excluding real estate) $327 $415 $422 Reinsurance Recoverables 171 203 202 Total Assets 584 697 709 Loss and LAE Reserves 322 395 403 Debt 13 38 38 Total Liabilities 475 579 590 Shareholders' Equity 109 118 120 Book Value Per Share * 16.04 17.54 17.66
Summary Balance Sheet
* Based on average outstanding common shares
($ in millions, except per share data)
Portfolio market value as of 3/31/06 - $422 millionFixed Maturity Securities Average quality AA+ Modified duration 3.7 4.7% taxable equivalent yieldCommon stocks are indexed after the S&P 500Added $70 million of positive cash flow in 2005Portfolio managed by Conning
High Quality Investment Portfolio Fixed Income Common Stock Short Term Preferred Stock 88 6 5 1
Fixed Income Securities - $371 million
Common Stock - $25 million
Short Term - $21 million
Preferred Stock - $5 million
As of year end 2005, 36% of ASI's $203 million in reinsurance recoverableswas collateralized and 53% represents IBNR
Recoverables, net of collateral, were $131 million, 95% of which weresecured by reinsurers rated "A" or better
Reinsurance Recoverables
Reinsurance Recoverables
( in millions)
Net Loss & LAE Reserves
Incurred But Not Reported
Case Reserves
2005
Loss Reserve Breakdown by Line*
$115
$184
$234
Construction - $143 million
Runoff - $24 million
Specialty Programs - $22 million
Environmental - $45 million
61%
19%
10%
10%
(in millions)
* Chart excludes Surety reserves of $220,000 at year end 2005.
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 0.6 1 1.2 0.8 1.6 1.6 1.8 2.1 2.1 -1.7 1 2.9 3.6 3 3.2 3.8 3.9
$13.6 mm
$3.6 mm
$7.1 mm
$4.3 mm
Insurance Earnings After-Tax
3 year CAGR 56%
2002
2003
2005
2004
Summary Financial Results 2004 2005 Q1 '05 Q1 '06 Gross Premiums Written $ 222 $ 238 $ 64 $ 53 Net Premiums Written 132 141 37 34 Net Premiums Earned 136 139 35 35 Net Investment Income 9.8 14.3 3.2 4.5 Net Earnings 14.8 14.7 3.6 4.1 Earnings Per Diluted Share* 2.01 2.05 0.50 0.57
* Based on average outstanding common shares
($ in millions, except per share data)
Capital Management Strategies
Maintain "A" rating with A.M. Best
Increase capitalization of our Bermuda subsidiaries
Manage long-term debt to total capital to maximize ROE
Debt to total capital ratio at 03/31/06 was 24%
Pro forma for the offering debt to total capital ratio will be 17%
Optimize returns through ongoing dynamic financial analysis
Invest new capital primarily in fixed maturity securities with an estimatedaverage yield of 5.5% and modified duration of 3.3
Target net premiums written to equity ratio of 1.0x
Investment Opportunity
Strong management team capable of executing the business strategy
Proven business model in core lines
ROE expansion opportunity
Attractive valuation
American Safety Insurance Holdings, Ltd.
Providing innovative insurance solutions for
specialty risks in underserved markets
NYSE: ASI
June 2006
GRAPHIC2g02062g02062z0066.gifGRAPHIC
begin 644 g02062g02062z0066.gifM1TE&.#EAT`(YO>?!P>N]N_.[O>#(SO#`RMO)X>_)UONYR?K'ROO'U/O)X,[6MUL[6WL[>WM;6UM;6WM;>WM[8V-[>WL[6Y]+:Y];>Y][6Y\[:[][>Y\[8^=;:M].K:U^_:WO?:SO?6VO?>UO_8T_?>WO_:WM[>[^CY__6[__6M]__>\]+G\-3P\N'GYM[R\N?GY^?G[^?L[^?W\._GVN_GY^_OY^_G[^_G]^_OM[^_O]^S\\=+B_]/L_^'A_][O_\[W_];[_][W_][__^?G_^OO_^_W]^?W_^_WM_^__]^?__^____?GWOOKVOGIY/_OWO_GY__OY_?G[__G[_?WXO_WY_?O[__OM[_?W[__W[___Y_?_[___[_?G]_?O]_?W]_?_]__G]__O]__W]___]_?O__?WM__?____G___O___W_____RP`````T`()6MKUVI/A2K-:S"L6?+HLW*=>U7LFW5RHU+%ZQ;LVSMSM5;%R[?OWX#I^T[&'!AMP7D1OSW,.''CQ8XC0YZ,E_+=RWL55]Z,F2X2)$L^+U&"A(EHT:1-@T9=^C22M)$62R$[RV8/MVY^O:&%"1"='#&.5UUU,WIPA=OJL#F*!!?((J4:9X_\UWMWWVDZ3?EE5&V1F6EE%HYY9.8;HJEI9QJ>JFHH4HYJJFE@OIIIJBNZFFG_J>JM"FNJK,I*JJNQUJKKJ[?.BBNMO+;JZ["]%BNLL;8>JVRRS.Z::[#-0NLLL,]6M2^VUOV9+[++3:HMLM]O::M^XY)9KKKE+>+#EE$JTZVZ[85)AA7?>+6=33"Z\M^2:O"#65\,7!T;'`@@LL4/>%%\I!%30!:J`#M-G$3G+(F`BE``0O@X0`'9,,N=SF!"/`B3>#,904KS.8U4W-.=!)X`A(`3`1`M2$]LWE4RTA"A9Z`,I2A'273IM%R*MBKOW[%1KGC3>_I"72^:M**3*RU[TMI=HYUVO>^=;V/C:-[WO?>]]\[M:_-)WMO_W5KW_K.V``RQ>^!1[P/@W,8/4VF+\(%K"$`_Q?!5/XP`^^>6W7FA=\YNMH+-9Z#K?LI&1[F>FX_G?1C\MTG,.]:D'/>IT?C?6!;UU,VO=Z:CM.ER_#O2FME_WIZ([ZT.11UL9Y*=-BUKST3B*"2J"%4?)\\5P=^FIV5O?6C6VW"XX-+!NME^OVAMLMV:@S?:_:E(I;*MLY@QHEVGW+#7&OM[T:>J.N2+\\\6XJELO96LFO*3F2!.PTV:PI/D9P@E[N\&$0_2#!)_LBD:P0I[EPZT"U^M[H(7%=L8)[DC\8@OCZ/#HDRG27.;I'%=CK9Z.&XZ3:P>)4DY*_H^(FE4MI%E3ZO2:2#O$R8RNB`SA5(N8&ZVJ$W?;,N1?+_.[=ZG4/)"\:T*S"KS(_DZ;M[7KE4BU'3EVB,["CC&K>DI9,QUZ&5`)=;%`[:=RJ/=S\.=\;:>!&VAPSX-_`T05(SB"]3""_`>`/OB`I%>".+A[`;A]M,AAP-%B#V#>`"YA^4DA[/HB%[S>$08B&\9>&1>AS'+@^0_!1&B!JQ>(M[U-G!B2'33B'F[AYG_=WGEB%$DAX5LATZE>)ZC:(B(C_A3N(>XLH>CS(@\97M>/-WAD!HB_)'=6SHAO,"A_B3B2)8AYM(A\!(@EXHAI_8ARD8A:\8B]KW@-^WMB]3&A9QW?@5(A?XG?%A(>M4X?#MG>K2(BX]8B[B8AFQWBO\V??OSB\.XB07BL=7B/4HC^=8;:EX?5W8C\;8@LAH?6&8?+E8CLXGA`EID`>YM@??3BYLUA^ZHB4PHD2)XA_4HB_'8ARH(BMVHD?=8@X47C2MQA/7#C\MH@Z4XMAG](BAK)BB;XC9,(B>-XAFSX?/6S;_GSBQ7)A.8@@D3@DP(0E$3`A/"8C-G(MC,^(C]PHBJU(B"-Y$DM#0/PH_Y#^^(^[YWWTV(QBZ((5.),T28[B*(X+V9#RM\Y#K,Q44*8P3N98BZ)-U>)$MF8C-Z(#+Z((H.8HLF8?%!Y5=L2RLU3]4R8=,MN9%DN)*B>)=RJ7NSN(:2^)6(1W\V28[A>(M`5Y),D83LDY9M28Q#R9D\:92&MJ8K6B(_VF)0$N)F\9=@I3^"B96#YXI*&9LNJ8!\+`/07BGZ%FDC4F6RY>A-RDYPYD7(ZJF]EFB6"J,%0F77;JE5^BH/=B=MAOF'+CJ7ULBD>=2:4V91\FFH=AB7/!JID,J2CUJ>0\J0&LC_ADK:IWUZH;_IM=H$Z5&AYG.PHI4Q(E%=:#U=*HIRHI:)Y>^!9GJX(I*5)F/R)IB9B'T"$HXEJMG"0(GJ/:JZ;9D3_*B#^XFZ>:IT=:DPAYBV/9AI>:$X*ZZV2B;3CM>*],FXX1(K4C>**V^K&UBJ7NJ*N:J*L9:Y3;>)C0Z:4^^IU9ZY^AJHV!RU,QM.[56:Y&6"[:EBK,Z:[H#(!#YD+JKJ[-A.+JYYY7:&IE%&K1Z:[OI&7^JQ[DPML6I..Z[D>J6-6[@B>+C(N9R@69LO^:L2FI(9*:^-ZHQ)2:$^6GK@"GZ/Y+%TMF+%16Y0S"K"N>X.J*[X?)Q`D5[XW^WD_N[!&RZ=DJ7H/.YG>RKY+FA>S9AMGM6Z+NJ)SN>4`%LA)N]Y3J')UJ?-MRXQXNH^FFR8BN/M`QN2*W'MSK+:QU7+SW:KE>$T4>IUG_2N,VDRK5=O;M5&O=9'S8T%N"GZUTOXRZ$$?,`EZ8HJ,>MN59(D#\V.&Z5G@.@Z3NMV-[>2M7[=VGMSH3+G%_.[V.!6OT/FS[,"\?^IH'+54"M_8S-*I6.52S:-\:'BJK:>MMS=JI3=>G=[!UKZ%?[O^^U-X3?_\2U/VY:`X0Y@0,)%C0X$$!1`0(1,A0P!D!M]1`6E!AQ8,6!!`9LY)BOXT:/'`>$%/EQ)$B4^0"L#+D2`,D!+%&6//D1YLF;M-&EZ#-ES)L^?/PD,??7*Q%"D+I4N9=K4Z5.H4:5.IPE4I5R9Z@G,EC5O;GK5XF>P6;%R_8SQ*^BS72=B!-U0M0"UM;7>NG3F7(P"1LG/&M6U;+M":O86+)%K4A(E71)%/YMSY:RVX@[*Q;R+H$24.K0834JJV\H&;SZ;?9.MSM+;=(&F\NM$3,L$;A\D#+*!&I8=-&H%H\B&*$H003MO\/ZXM+@7A-F]^BJT(2;LO^.J^;TQH2BGC9.I_46N>_4*DIUPX&;G/E;@;O5M=EL,,2S.Q1:?>25H$R(=BKVBY];YXT!N75/JT@,E>"DVM06W_(2"3FO%"5QT+6D>'3BL>OZPW+A/5)G\H*$NVB:$4!MTLJ&59JX.?:I;4E$>O?+EI;PE*F,3N$6Y_+#S;$*D*Q5N$LX%T.F$"(81&=5$*@$T4YRBXY`4_\03U7R)+M\R`892R>_SKD14#H+&*%DT\LYVD0H#347&T1JW&&@UCM2/5L.LEJUUMR9!54>4D>%3WJ9^`5IU[M@PHGE/J+H,3);7H>)EZ)!;#)!MQ5P[7JYJVZN'>3+JY&22I6__I]$%E]QM7(2G.BLXUZXC3&IE/WC>\K).C3447J.,NK&M0M#C\+=W"]W5$JJ@=&6T\&N*\03Z>S=:[H^@APR;FMX0UU*CP#$0$B$A'[CZK6$22Q%7ONMM,\KTR([;=7&;>JNL?J;4L_YHO]Z3F97/N($KO=>$YP^CH,=-8H$F?.RB6=IM%;O71C5\Z>!Z]_#`OF;O9B@!'(JN-8\3E#F/G7HB/7@`&,AY[?MW1Q749Y8AM;\)@(6ID6^_CS`ZTKIT'(">7O,D%1O\;,K>->GXX'UXL_MY2I92R:QG_:=()M&XT&3^,T(^1*LB1\]JV.>3[C$&,6N$CY,0[=Z,*NO4`B3(JH1=$%)-,'14SLZ@RUOPK]KTR1`M)#(IQ,)G"\2=&[),;+;.(\8!(ZL+OA:E>\,V+N'^J>;OD>5A=N744#PRG>C%E59`\Y#DM0TLCL:L=E5TSUAXBN:)+ZUSQ#'`R\F]H29CY?M'#?ZOBMD+T]BXSE;Q7$[P(G=`*OY[P,?UMGJ^+V%[G&Z\\HQQ,DJ:U&BJ`QN^=WW%ZR'=(>%1NBR;`?O\-%77-F3IXV;_[PY85._'A0K)HMNW+UZ'(NW;HN"1@P0,`2E?"47/JH4*!&>C(T")1Y\,#,%E\CAT:K>NUJUF_9DUQ-#R$MVV/')L^U/%JYO-_#[YTWYF3B.AD_A0Z\N&3[B0'3-%UC4?%4V64'(JB99^%IMM99#JH5U7H-@451::A6"1MI9&`:@FD4+S>9>?+NEE,:(N_F&6'&1-76?5"Y"M]9A,9P3H5''Z6365C$?Y1]-UV4DHVG:H=6@1A`URN&&&!TU((4%N>1EDHW*'4148W?5II=`_;SG?F,X5RR)1MQQ+G*5(DOXCOLB0_M>QP-T5+K;26T5FM>6`C/G.KBS.>]I-E&TQ0HN>N#70:MZU8.$M$7T\O?WFVJ"/75\CI5V$^5/MWY4S^F8ZW""9,%)>3:[=QAP;>[_A!9M0:(MZT8^9XYEVQ7C6U1C9_3E-XQ)3R8LY_5";Q/*"+*\\N!9_=E[XJ^9]63MM?^*N9Y^S;4%Y\!\%??Y'FS/KIN"__&P$RH/HRM@YW52MLEW"O'`8\L=1F*HH1N6RUSF.Y^Z(C@QB]%O)S]1MR@!.,R?AU00W>"RE:\Q_M"C:PL5WQ.PEDX)2^5R0K;@4A$/1AMEB;X*V0I:VED2E91C":=JCUK.J=37F.FET+K5>]`+HM9``_&15M)*5Q_+*`"M2S.Y'08O?>K#2\4$@[]Y(5%4H$M:W524O/R%+BGW(L[J^,>"K3GH`\^?])LH+4M@&Q-9CRW99IE]E&+_*P2SS@"O*5JR0#]@("O!*K&J"DTH:0*8IJ"#9:?U;OX2IQ]=*-*(4):"1^'G4B^"3L8?ZVK7D&W5.4B3PS*@V]540M]8:4%^47.:A\G2M,L]^'G;BW0KD6MDJ&:RQ=9G8P,N]LB*8NRFV84BE+#D=7K,`["#VSTY0!LP%M;X*S1&BHHNH85+^-_]IU=>FH]!-)'QFVQ%$>C[6:'.=]%CR[I#0W%U_(10:SMN]@EL;&I@TA'ZO0%.L1*KG15/9E8QS>_USZA6(=):6EAE].L;''!9`?CD,9YM7%6VLF7_2>J3'CLF>Z5.F%X$WU^R>HW@C&^KG2>3_06Y6S)_'G6?0T%"YE`];+HH]*MZQD2&RQ25+_=Q3M3(TC'L8E)9K/E:`D5=5G2D%";HO#O:,5GE4R1B19"FE!W.?GQ0[`N,4O0H2$M.*:#_:?F:!9G:=9;SH?%:!SV=[?HRF13]`4W(:FQKIM=#(01!*CD'[$:@IIWK%2%F&HX-'VV@90:AV['1=+V=7^;1JY:IF8Z5%69H6C8]!MF\5MF/_*0I>7B0R68+6S#.NO2F1L]8:U%W:K.*B0#^91B`=Y9.>90MLJYM!JB4BB0V6JXDV2YU)"TX^8=^T6W=^F[OQBQVG5XSJA79`]+N+(*J7U/I'0L=$9\F-@40:S\F+GG=_"`:X"1B=.L@?"+5\Z?FB(M,N_[AJS77>/\&6UERJ&:;*FJV65JN6V]Z"ZKXBWOSFP4;J4@'M6:?IX(=RQ'M+K#JCFU).:]DYD4,5R:+GNMJH9T3%=%*8IA4;"[X=>Y.-=/_AN)@X/Z=P_THM-(E7[#`)I#+$SZXP"Y-$_,EO2*(M_:43"0%'R(M+'8%5O2^V(L[7S._*:UMD44NTM3?,ODBM%FSQ[RR:R8N]OJF6@I5K'..L3,$,(QI]Y6F-"7+@>"N=U+KG.":.CM%$JX&0?_R)2LY@;OJ%2.Y^Z1$-N([C_2UM)*&B,JJ$1SPN=T257S8>KVP"RUX)Q5UBH!T`0RH_DY.3&\83[DM4Z,;2;&HXIL80Q)\)MM/KC_]0#PL8(FN#4*AIMRC\L`JJ1HJK9AQ,0-P[%,#$"$:I9-Q7(G$=1&KW1$:D"'M)BH6JD&'I4B*DF6=7[*LJ?D`SQH'?6)54Z,8M*OS(?^*-D"1)5=L-*T0\D\G/A"(9_[R.AR)#8:.9F"S#GM$H8X/#905*\*"/M`Y-6`-F"HME#U6M*I=R"!2&;JYD="_A0O6#/G0L`4;7/SHM5I7BYFRNFC_LPYER$,C-[*0GE5HKKZ0JJJ3.G(\%JM6:WMUA_NEA^U>-3WI6_[>2V_^.F"'*"S4&K[Z8RK[0M-5Z`!X@S+>+M/+][email protected]\4^543@U7I0U4B^6Q_HV1Q,(2.HY:=0ZR50X5LO"7?(Z8V6`/KCR[M'8^C86;TT-MHW8*D(>%G>X_2J^85GH_4HV%MWD,*C=S8ZV8$N4H=?E'%?M%SM(]"]"ML)C&\*X^CQG,9"#3+.5Q)3/(LY9G$A.:98*@-,XDC?B*Z[B`.=Y:"/7_CBEW2+[3'^E6)@L5=ML$=HL7T%4(D5,A#Z$!,.A$=]4',/=B8^IM!$3XR45M@N;WE).6FIII+BS]K!H\89?_`![^/$RLF:F9'MY\X)H!48,^9:_%@,Q\S"G(MPI=`1=![!0CFE0RS?8"=0B1]C6P&'%^;7R*)L?FW0R1R`R;",A*#AG\Z,)LT03P`;C0BD28#+%4MZ^G0S;:`NG+%-#P8O`5J[JC$PO:MB1(8;P_$;VW%GK64[*W-JM4=Q54%A9IH0W)6797[4ZM8Z*M_QG!%IPH2!=N>QLC6K"*6_P//HS:]'/Q_%>OL`\./W@F+^^OJ54/"B$@`'Y(^_2B@@D`+^M%AQPP08A1%#"!"F@`!UJ*,`0A0S1H6"$"C?4L,(1.\1PQ!-1K!`IE`J6JJ:2/;8I(Z1R2JRPP.I*K::F90NML>8ZH8BWLGHKW+_PLJM_OOQRM%\$0)C`74%=@"%.8PRA0@9!I5V8@$QH)\BM@J@$-P?KU&M)T)C4XRX'IM4)],G9E(>2R1IC034"N8+$5[M^(54;#W/:8$2RKEM'"?YD)4`9H5E?.?CRK.R(A;[M64M36'+6$[@K2+`92SAKU#"CVM*XHK'.L8YS=!L%Y#JC&;'51G4;K!_IQB,AU?5(M")B2D3#)M\8M[G!%$FSA-(MG+&%V'-S`4R:]%"@RF>FPZ*(J[/!\EF4+VD3/95C,Q51LM9H#H_IJ(_IQH/G8LR)`&`)NJBH:,`+U(0JY(R8[G)9ZG>G0MM5W!"\RR`)>#PUXC"6(;-NJK+*8OM#M6'#Z/-#_]%%-O&0BVZ!2VP;9\P`-OBMPEMX;UQ>%%T>,5TJ0\#^ZS(T43,TD:*0[S+H76XTHMR@RQJ-"*`>$&`8I'7-4(HWX[WHS!FM%:>!^S"&8U:*>JFW-JPW>XL#AW0QXAHNXF9V9B7.Q;H13(W=^(WA.(NO>(ZM6(ZON(VY6(OQ(X_QXXO;^(O[^(W_M.#_:.#\`F8ZO^)`/.9$1>6@6F8[M^(Y-P`0:>8X?V8KY&)/)N(NS^(O-6(\SMN9()693AN(Y)^93O.)51.9*M^))+>6A">93).),_690/.9+M.)6AP.8[=N),#V9A_F93_,_F0:7F/W]B3>QF0I;F7`[F:73F9L3F;M7F;MN;F;O?F;P3F[?F>\3F?M]7F?^;F?_?F?`3J@!7J@";J@#?J@$3JA%7JA&;JA'?JA(3JB[1F=)3JA*;JBM,3JC-7JC.;JC/?JC$?FB07JD2;JD8=FD43JE^UFD5;JE7?JE"9JE89J;97JFM8]JF[LBW[LIM:LM-:L_&:LS'[LT$[M/79LR5:LTE;M%$[M?/YM%6[MM5W[M6$[MF5[DV>[MCN:M6T[J44;MW.[MWW[MR=;JWD;N(F[N+]ZN$?:M(U[MN9F[N9W[N:$[NJ4;JI$[J*M[NN/YNK'[IK&[L^-[ONG;JM^[OI?[OO%[O\LZF_4;I?^;OP7\KP-\P`T\MN0\;P1W\P2$\PB5\PBGZPC5\PSF\P_]7NK87W,-%?,1YMFL1-_,11/,6-VZQ#7*=5/+Y;/,)C_,5IO,9M_,:I&\=U?,=_FL=]/,=?>\9_MG+(Q6\B'_,B1_)Z-/,F9O,F=_,G;>?]5V_]#,_]C^_]5]_]FU?``)?'@1AX@G_Q@\]ZJ_>\.G^M^(/>^)6_ZA>^XV>]^)F?]Y]^Y3D_^I^_^JUB\`^[%^Y;4>YZWA'P8_^`O:MXO]YN'M>[VN^Y-E>_4U^[.N^_?\^^57?_5'>W%._[&FW'O)>__W?_0%"@(`+M`PL6)$CPH$&!"A,V%$A0WH")UOY-'``@H\:-'#MZ_`@RI,B1)/]+FCR),J7*ME2Q;NGP),Z;,F31KVOS(T*%`90+K$?0I`"C0&06',A3Z,ZD`[email protected]!B5(5"G3MIU2=,KU@%.K1A$"7;NV9,*+"G1`9EEU(-6W7K@8=KN4*-^=9JECC"K0VT>+%M?_)N^OT+.+#@P80+&SZ,^#"-D"B8E[^_X-/+CPXM*K5Z=N/3KV[-FW*\?NG;MX>?VV-V_.P/KY>N>9*T^?'+KSM^>?;ST\._SY]^O:AR^\G@$0#5$3@11C_&8=@@@HN6-QB##[HVP#]D/!/A?U4M^$\_\OPC`88>?@@BAA>&Z.&$))Y8(HHB4E@BBR%J>"*,%N+EHH4U9KBBB23(M*.,_+)J8X89`:FABCS_^*"220VXH(EX#YF:@7O]`2&655EZ)998E.1A8`"1TMN"-Y.^[(UX0:=IB+CV?RU:&81(8YH01BRFDFG&&VB2>;;NX9YYQN?CDGAWR.M^1R?9>)(7@D9CDDGH^2QJ>:.'7)8H:1E$HHIFI$VMVB=GC+Z3YJ$TBFHF=L,M((A$_S@YX$5:O@IKK++.2NM&`W2*:9&$BDAIKQTZERN99N+ZZ8@7=CALL;LFMRZ&P85I8X:]U_S8[[:024-C/J>OAKI93^&NR(WDZZ*(8=M%CB`JK?&:U&M]MZ+;[[ZUL1E1E\N6FZYEOXK#YF/\H5AKF`J"RRP=!#"A/1J786)8D,3N,A%0E*9@"QD2";$M$6ARQ)C%7)04.V+-0U(2>AP*23=MYRL?ILZEK+]\XH)CVX@8SG.:ZU>@:V*Q6C6O#=5SM0T"MJUWO:I*6*1*3.PJD0ROXI7YXB:F*;&1?/THAP"JTL*)\Y$*U]@"C9^RMO8G6%GFA($)T0A`5I#1_!\WF'!"WNRVN5X&+6^).\EC*A1YN?X?!=M(>3*&_KY[*&3YNTZ.3+\QD/UHNCLIL^S:IM2UM6,1QIV/>T3JL8;4KVB65KYQ-)\8I%#_V7CN(M/HJI*C*.#M;Z"#.7GR);I8BJ.3EV#T9_3F)NS&-6$73G6&4I8BE3NR,Z)V$6O7JP4[$R.&\NTK%I?:XD.MJ6E0UFLQJ9W1.Q]N.MOAL0P1"40?_.FXTA[PFM03Y,A9(L$9*\1ZJ'LX:V+%I3=U43A[:+N>\#A3"$A*3,;_/V/N3+B\*20A/V_\MWYCDS4Z)EZK)[86U2O-)4''=#M;&4W!Y.C@E$;FG0R!W@D_*JE-C_E3RIMC4=RRP>"1XTB*JF&D^3=QX8\3=Y5308@V')/K:Y?SA+.TC@35!DE;A>=8IE4U,$_6MER52?N1@GB1@(/50#&;(`T>,F=NOMS3')3WOV].G3JD.GM6(=VY0EU9\8![>0)RCAQP$P"-0'$E>M27E&K2P4RO5K6K]FF/258/2X_CG1?'TCHOKLQS?+M).1Y#H&8Y307@`"`2X#6\AP8+?>LI/U%"EH$:*A1(+;^^:>EXM;R@NX,GT"'79"M/2S6L2J.BK`6>-\@BK^#*ZX_Z-S*OY!:HX3]Z&8#69"=YWP[_T)K"23(YDNJ-+`K.P'D`#"VW.]T*4^?KH0?^M_7SKJU%R)P8Q1\%->[XR3^)(MJN4#PI#PGY+OIP1R&M4+\;6SH'72M=^.@]DNQCT^[`[email protected]))`9!G4YS]*1S?FO-.&)ZQ0D^!P/=L81%:K!J6A$-Y_Z0)Z\"2M!`3`[*@O]&"((8G`IBJ;#?E%R;$V3LR[I*B2'"H]^%#'DUQ*(FLJ4*,IIX*1MZ@L)I-C&CN,F$0D$OJ=MMXP)!HFWCEO`":$R9BPR=EZ*QH?(B_S@LK92=NO_4C>F1OAVX@K?B&!7L&5`\5;#(M$Y-+Q+O:Q)/)Y,CVJTJ@$9KSF!0`?+=^$$[Q;)M,)5#;:;XQQ$LFJT_860HYMDIDKM9:6MC*^RJ9`>_P'+M(SQ(`[-8!5LT-DT_'O'#YN.B>S003?1&BHLNG)TS=TE#^W-6FEU'Q81`??6:M+ND.'^4:Z,2N0503;`-6!.B[(C#4(M%)(1&Y"&MQ*6$9D!=+0$M,/`+%-?,ZJN6X8CN)M0FZ]@FM:S-^[>7M[ZFN;ZKF9?\NB:;5E$=1U3[>Y$A%51ODT.>=-AT\.5C&IT"BX-E"M+L)F)57J\)'Q\((+/&U4,VVPA\_B[G=/!V/]HF1,6$WLCS;8IM8YI-'^+ZK:Q:J/;!-8HWKN__?EGSK?+GGXI*,S:[HM0_?_;4T5:6K3:$5VM`K2YC2Y].O7JUHFN5IUT-EJ,HI%F39WQ*]K@M5)FBWBB>6XWUSS:"MK&:66GZRMQ:+069ZWD/;F>IH=HN>"EQ2J*('4J/FS7;:HHH>2:A`S+UUVYV_M`BL=`00->U.Q.1%P+`#),DL3L\D2JZRR,_6)DG+@C?>JK*&6R1&9[65Z'))FM29"14JM^A"5*#S$'DWR"6"-/?;"M+U)N]5IA$U[XPFEEG>97PFV=/?DM]O.2^V5R=2;\V&-[DJKW9X\4O^-?32S^M"Q-8X".R?$WE?=YCCJ^D9#K9(2MHMC/_6NL>&*R?+0M:2],@!37XLYSU[(.SM.QT%[D4X#2W9,[email protected]/%X0SK7*)[J-_I=2KMC4]/.Z35;M)Q9L1UY\6&@W2>BN1*@0N;>P@(;A>!(8[0QMTE2R?25L:B1>\,JXQ@6?MCT9&YOO,G?\DMU*0X#]][44\#LQODJO*475IDF6Z9F*I$%$:SS:#P+/];340\A#:F6S9P\9DE`JDFJ^`%HYZ-6`1OM?,!0#_[Q(I0R0?R7VQMI/$N[\(LHHJ@8-#B32/6U">:"7R49(BM2)Y]!63*KU,S+4-'M=4/OK98Z=%Y&HFNDZ!)I,:2-&Z'^)Q>S6_&AXQL\^$SD20EZ8/\%C_5%(,YS9*J[^-"Q>4RMR`H!=N+_'LIQ4D3>#>O@_@\9^ATM8,[CTL$6,CVD&60I9[V@IX!+@Y`:;/JTBSRQ#[5R])P8ZHT.O5C+2G'5>8YI!ZW)C\-ME0L>TVP?/:98(KAMIWS_;W&ARTC6.^!UBY.57IJR?L8BPU#]XFH\(*IOL14@"LEM/ZHJK.3'H.ML6N0[Z,>5).X(.VV@V,,:\,7+JHX*[XS=HO+^ED4'_7(V%DDEM^Q$$:6]>M":W8@GC/#`7GH"'VNGT>K/U@3S;9X2S%@S4#`S*Y\Q$/=(F&[1*SOE27PI-TFG*A%0MII0*#;\OWQX3!#.QD.H%R&!E"P%RI6;QUX)0Z2A',L3G1[RD+:S!F2PR;B[)M\+XKM"`+S0#G,\BL\+P3-M-3/7."%X5RP5:R]G+(^::,8&J,&2UN1A(GAUP2M3`3(,K+3+(%)`LWN8'JJ'=WI*2*/.0H4D4KIR@9+GK1CP/;2LV(N;X8/96KNMU6B#/-_M>%9S/4-41'^FR@;.-H$R#[^J2I0+5)BLZ#X285K4*X?"6(H2+HZLM5F2)$MPYH0X\4OM\Y"H$3695`-!1R>M4BO!AY#*MHD;`;=IT1CJ&J^:\Y-\JCU79UC4>!%%+HJC]P?/?:=L=CK63HW,$UM*8KA?,]7G8D*BL;,&W?WC%5'*00K9[Q[["-O\W:9(B]QW-$VV\@/H]_*?$H*M;;B8W#@P98:L36BT$[4?Z8N\!'?9*Q^\F0?`X\8(J9",!SRQP?S,DE;L2)J-XJ`9-2D-@MS>A7OS,*:#(_%!VF."*UONA++USY6PP!PS_Z'.9(9ECB8AC2G>*8$8T`>ERYM2B0!V[4M,(4Y(JFT-4"!0%)Q#:N7$R43,D&ARRM!>IY@IC#4#3V2,ESRJS/%$-4&1'6UYM&*.PSDP80M/=\N8G;@92D/+LB-GL\I"GX).>^4J/'!:G5(@0*8\7^J0`FY0J;[F3>&&%M#`4.4`%5@G2M7DZG$:)BFPNI1*O#7D/W%'$][_2-!=)SSN8U;UQ*A>47*)PDEZR\ID1AX$*C`>^&9V6L`5R[/G8^A'FC>[JF*GMFWF7T?_M5\_FV7-K_FIOP>XH_Z96JB-GG>RU_Q&K@@*AEQ-Y"!X,P]M9#1SBI-=J4Q&7M6C&CG[JMA-2U:1PSWKV.LBB^*K,C)N4]EKCG>2T&@YYHB34LI453B*M4#WY>.[A;54*W90I(VPV&X5HV!,Z,4IA?:TTXY00:TE5/W'3F^U=ON_'NG&TWJY_PB(2ZJ9)X%"KI`H]L4B>418.M48(F:&THJXE1X-+[3":')`U=\=16]I?PM&:>$5AL^B10M.F/T=1%!A=;]W4UDE20"5J)X8"GH3-0C"3-I)9MUED0J9HAGH?MK7S749%4-7IBYO'0\14=JWA31A:J3P[67>QD/G$F;98,![;/B`D'_(@-MA7FM,8YBG2IF1U65-!::A`D+44"$6T2$7"S;[2M]`>[@&`5HR1QD4>3F521'>657$B'V`A@0O4W7M06)24"5W,(ISJJQSOHQ6LM?2:J3G(6B@O!S=PEE`/@:?8!NU+ND:7JB[Z>0"MNDU-22["U.X`3TK9IBYX\*_4+:08=BLDGM2P@DXV=D>G41VW.:7-$*=WR62HM3F!-(M#4#F'6CL$!)S"=0I[_4@P7=G2;^=4W.CJQ'N7+L5_3^/9E=."#-^37M_*S@_.#;&\W7F__)>VL?DU+4L7?1I;$)0CM7TG4%_#3=?R'NP&1(.[T/3OW4M3_6XNEL4!;/KP_EWDG3([9ZRC;Z[`7[OY[GR"G[9.\2;*0F\AK4LGC3S%_ROMI^K?3WF.>[ZKOH6Z:1Z*&?440_+U+W_%+]_VOZVK@IQQ23K!;7(K`P2%`P(/MC!DXD`+!A`]$N7=%SM0W%;,/?X;[,2&,;&0HJ\^(DJM:;"IRF9S%:WW?-MN\?NIY[#_WTV5KB^48]Q.L!\&R7G._9Y_?`M!1"`\(M__.0OO_G//WYSU[SY2M]]]-\/M5D_O/*8W_?\&\YMM#?!%Q@`1=B('E!^0ZB&M1YB$2_AU%8A,EC0ZWZ.'56@C?MB$QP5UV!9\JH=U?'?_?53WA3)'ADNW@>(GMB>'WAN+7B/Y7A)7(@P(8ATRXB5A((>LUBM4#BCDGBDY'=A1W=C/H;V:G?^-VM?^4V`"983/TBGX6>="B&6B:F:!1>>L(B?=`K_`,^0HP#0@0@`MH6C)`ICZJ>)7A`)8J@,0AW%I-9ND4L'V;&\D2QSZ7E\U;9ES65-4K%K5F__QM8B6U028%;>KH3ZP$K+JZB>2'`IFYF:(9`)Y)?J$9``QJ`^Q@DXQ)@G+(A+$XM?G0*H=BIDS*@JC;9JB0!H.CJ?-8:6IR8-O@Z8UB)H#QYEIZZEHTXL%[``=H)M`$.@KD8JH*9:?@"P`CO:DR@0E$6:DYO)JHUYA`TKGD6FKVC#KS*&F`!@H)J:MG>&7`%[ZL)]9A*.J=(G7LH^IG3RYJF)*K^,W!$6Z@3'I=7H:LJ=556KSLQ[6M?Q^HH]S*HQ;KK;9XL3,YJ@):M.)'_[+2&8)DB;`)6@_/P)D\R0(`RK$%UYJ6M-K0@,[:'^:T$8:8X298AR`'.(*_AYZ4NH+$ZN(AZ.J"VB`+/```]6K,F*W[1ML+>9F:E#2)GBV'XJB+ACXZ^HFJE&6Y9GF;.?21!S>GX1&7?62'YZ2Q"9ZK=(M2Q`?Z)EHR88SIW046H>)B[J^A[1F21`0*K5E":]6.WX]NK5"Z+(G.),,6KO*N=K'_S>C0_RBW_FU!?A#/399C)62MSO;&=&PHD2?)DXR8,\O`Y]>K;L?;'(G"V\NO2[G".\R;0X@D%HQBT:RFKLMGQ"[?ZR%VCI559J!4+L_X;I_-#C1[U'BJ-0?8&5>)PPZIPOM'+:KO)OT?,$^_=,_0WIB>-3T!V[`]]'@UFU)U]#7N(V56(3B+-.$W,YAC*/,;V6X/NW+%@#509/=;27-8P0W9Z:D7KGR(SCY0?_U7;>MEK@[W``XT=ZXXS-.QJ$.ZWJNF.CLTL3;>1+NZ=(=OV>:O0H)Y7%>SB6LP!.=M@1I8A%Q=#SC>G"*NUT_^?S(KY(WX@5S-WFQLKRV>ZRVID&=8M2JLBYJ*3C&B'4O78EJD:[>^Q9>P9%'`@04/)ES8\&'$MB14O9@S@:]@")E$\O!H`!8`Y2.M!->N0KA_:K/-K-SB/9^!/?QX[JFI)>`9!"E`_B=!/)F>"1Z*VXK3@M&18.0`%?-SK#38`(,"(`P8("Y`U(J'"A@((%ZSF,&(`>/8D.*1(,4M'AP84)M_7E,*```R9(F3Z),J7(ERY8N7\*,*7,FS9HV;^+,J7,GSYX^?P(-BK*APX$%M40!`49"DQ#D`.!0@"+$@QHD"0GH4L''KQHCI;FR+BJ=]7K'(TFUZ=)J:HK;?BFJNN0#5D9(-AM6?I7AX#>5U"#%@%&:IQN4O5@C^FUR2>DW-EF54@0JO?6J-*.T!I97?DEJ4==MBK2KN>>BF^ZN;5HIK9^FPMMG6>\DI+)JQJKDG;1B)Z.Y5&%>WK;EG]M!D?>9P-I&J3!6_;+IKH34URQQ11&R]];_P'859H\3EKM1?'5A6:I.%9U([$]MKG=IRA['5:2'@,5G%EI892Q68)5RG%I^>A#)5&%+DGWPAL9S+[D"H1AS!7[2==MK#;'>]K..E6Q546M)NE)Q'T""$LPZE*TPH7.9PB9\[YQ&CV0!L'D*FKM%IJ1,RXMC1,]:4:#=]&/?G:TN^W3;5]Z2MYC5MJ$2ZJ_FG1`MJ87?&+CHJCNO$R]MZ2YM+!KO#MT:W'L?6\X6^`^.$9WC"#O-$KMYC':U:[Q^*9]OBPG>ZO+=MM9'EW)Z9GW.4-J&Z"1V6P*[email protected]!A.A[#&$B9$IX!$Y;4/M0?#.*(9@)42!G-0W#8JIF#8C5HS&/Z%II*:IARZJ6^@1FLR68`(0&J-XGP9S*4)MU10DCVX>BO)C?D%E8&3BJY'5/BZ%QJ32IM)E0.)3-/8/D`#+P5"IF4IJL"(*MAS1,=@:=J1#0#\UH)_[7OA0K$3UCK=5'K!Y=J8D5>J+C)#(K]T29JQTK[12BM0QA'24@$4Y"*#("'VI114="GG02&LVZH,DHH8-ZAZ@GKO0[K^'F/7\S)C9P&M>>!J\1S83F9$HHX-WG0'`6FI_^2$"Y.^Q[$J+WBZ\I&27_%9CEB$!!A9-^%QKYDE(,PQTT6M$%360V[0V@MYH02="*L$)ZDDV8>(B],U968`@%/(``IT!D&@*P#XQ0IP[&[ZM*H'%7D9Y32I'%8$'?2J'8@XK`*8:*TY``6X08FX:CM4EF6:5V24OD>0BV2?-&>(TD5W)E6CI&Q%X\Q::U7HTE;?)DP2]U6-.*M))*2MNV89W^#ELH3+)_7I3[KN(1]7/IUJD1;EYF"GX,!6,MH%H%`E?O2'$C?M\RK%MU39Q(F\+>V:/_G)'?#AO!C^R:+X:+(YP\,'$UZ6QM:'7-24?5]5RI7VPH4U6M:/VR&MO8+O^RHQ&S+HMO+0\SMD'6,0>S&9HA?L7(X50T"R\A4`(`+@(?'HH1FW(C/H@@ZLU%,VP;#R-5/"PXY*0GXV!H28ND+^_+M,0F5>3+-VC_\VI=P;Q\M]U9A(;'0U#PA>UOVVO:^`?P\G=02^JF@G!>8`R:H[AX2\XD\,]09;Z!!@Q&&6J=@1FMR0;#,P]SX!0%W+2++W,S,BF3.9N3(P+)4ABE3GPR'=>##M,,8&!J`^>'G,K%M$[=NX9!13TQH/&[email protected]?B)E*E.$G1=0`+M-23S6C./V9"'5QM+W.#M+>LS%!_)G-#Q+P^RS+QAUY;3.1-402L")04RB6KR;:J%"PL0->TB0J/R+&=.MIW+C*M/L,VLQ\IXJB89LZR#L0W?(FR8$5Z['Z5`#X1@,,LM%+_+&,O$HU%(1M1HDS16UMRS9MFU9M(Q9K>U9N0=9L]Q9N?5;"B);!M5$!H%55I8=53S99K^[9MX_54/[9Q;Y9I#?\7766[ENS4SU=+T!5J760P'W7;V(-UE82OAE]?$%X\]]'5?U0"]87XMMEWC3;'$C]H/#5V(C>7WI=)%)V,$:66ZQ-I-?6(8O%FW?5GS-]W@G-8ROMHX'M&'@SN7[K^&IA-).?^(.1N&Z]08#[^),YUP`/#F.Q%F,5M7DQF))G.8&'.9CKMV-79O3"3=CEU=BM/Q?L*+I,,)I!ZRRC14FY3`(/>6GYJ(^5P/I`6%:NYYJNZ]JN[QJO\UJO]YJOM*U96`%E,R+I6ONJL.@@;F]AV![#PZXW7'M(=>??Q&J%!Z""E88X8Z.234#Z65W6%R8:^YYSR55'OKB:FMEN=^=?ZXZ6JF_-/GJML`/F;]]A1?3ZI`R:7CO?L??N^^__O3\M^DBVDQZX[GT7#_SRS#=/]^.ZIXWVM[:2E'7GNH:V`;UYI(CX>+2:%UM,H1&-_H1_W;?^YY5ED5'*\;ICGW\HR(7"1>TU5%0>8PL9\M:USH"O.97"KFN*$CGC&,YYE:EO\MVAMON,9O?1"0@UOD;2MI$L^7("QF@(SWV^-XP!O>MG;9Q/$0@D#E\@+_!17ICB0L-&Z#ZS%BG,&6UL?6N,YC:`^$Z0SO>8\M.08-YHIB]TKZT6SUA(H!L`(1N/C%^\Z\T7]^*\+N^]H=_;)50[W8M=]RPM7?=M'3O??&W_A#85HY^96JL!.-N!^Y\=Y@Q58+V9C$0!J+)`"^>!BMYU=JGU]U96$Y6.#%0_"N`('@0(_H`*`M-6/#Y5S+2!=CF6%ER19I:1+-%Y1N290:UF!QR1.?J1-U.9&NA7VM2%N4A@NYMH`JR-8BIZ0D.N7E41VH]&`\9L'X%(0.B1F!:N%^G1A#,^!-1MH"Y)X#=EF8SM5X#*J68-B&C0YWLM&&C$UF1SB("C!8(M*(?Y9VO9*8$DJ'NW9YUR&&C&29W\65BM-#`0QX`+Q+!6^!A;27H#Y-"-:$AT`YEIS,4`T."@`&`#3S>@/]AC6/F@?B=]MS#=PF\EV6V>`VLE[MX=9+%AQ#MAQQ9=U'=A\;4I=&_A[;G8)JF=(IKX_EMF\FC%'%SZ.9HD1=0N("4D#9;8T`(.]9I2?=BG=9CM!QH-`59+I`!&,@C;/EM">Q@>ML*6-V@F"@`BT:HJ24Y#6(Y=X&*ID1&@2JX>[C'JLD)=^[PZ@/NJHEN&@LD9?7#ZHC**H2MZKWR*J*V:8-J9J,=:$$^8BH2PM!Q-;L12K"T+&GSHUL6!0L6``"ZJP!W:0`,N0`8_IE3OX8@R0#@F9`O85I3Y6M:A!0`L,)`4AD=\)W^3PW^V\,^$+KX`P/]U0R>ZBL@[MQ>Z[VLZ""=5F("](.:A`][C5?S'1>M]!#-Y[G,$5$>Y075]`-L?SJ;A!$'@T8?^X7A8X>5:4_""W;-NU:B"@KJI[9[X@`IIK*"MZM`QI*+*DZ>P4FKOIJXZYXE;5?LSJ/V8\Z`S@V3$/%IJMF'3FWQ7W_J(PS/>(2*YGO2,^,,#&EJ++_FHC:1`F1U?=Q"LD+RRMT14\!L76%=')-!2X$7$M>^.FU\,!!G.>/+E7VPO$YO&V$XN>;Q/%46F(=)L4=$@WPW0WCS`P>3.(7V:?MD4C,A:A?E>52:?ZUF6TOP9YF@;NW8A3@9)D6!>8*E?I99/2*CQ.+.FVNM2"7M;?XUNQC`RZ87=2J(,:-V&@BVAC!W#"!M>R,Z%GQH_^1-4-9=/`FMT-6E/!M)M7(5R@]EDLO1MO,J;Y!$-'4LV'>6J$JO$5S&YMPBX'38A/0`WY?;Z+@/OT;,>OOK;GEI6"%!YMB/;R)U]V+@]`L2JU/F'.B,+\Y5D9B5FI-_NQ'Z*]MPM+;*,@\[!*;%LUFMKOGS9N>ZOV_^('*^X'E^.!**EW9&"]`.[1/>"]+;ER&JOY>+F/H+&=`@3LD(MZ+C%LE`5CK(B/3%;C4`LH]NN/Q3XM2DF/8G4]/2BTS-!P+=:4]#TI8(Y)6TR4VC#QA\E"FMA)*IA,HIR=W[[MTO(5XS,3TM\6HR.>5[PQ,U6>54]K9S4O!-)#U,P1[D^Q1.MN2=09RY1\:=`9,4#.ZB[?M\&^U+`IO5>>:@0S(D2WRC2TV8'$C'[@VRN@#AOM!Q!EJ8JK\7@@MREI=`+`S2?KC&@/9HI[DB1Z*`,`&`0F0P8A/K-+G7VW'E[24>;[OT]%IP(&WY;>8R_U),-RG%R\`1U3MIBYSH-MI*T\WSF=!9C'GA*;#\`]R5UH".53GV`T]X0":5E_0%:R%M9PAA!1M*`"Z^T((N5!H#\)HT#9@(:!%I$+NU5`0DQ8TK/EL:RS"VA.S=B,5[1>G`M&1M3,L6X!\-J:`0\$,4LFK7A8+LG;[email protected]'"#'`E'$K='B6!UWKS10:Q>0XB)1=1A4[4;F4#51M`)1]1>'RY!M'])>5V5$[]5$[]$)6)'52P#%.(@Y'$*(?$:+O88Y*M(").#"@`9(XA;8Z?(`I4>HY0^$1$'(6#%@HT>$[J2,HE11PHDJ4FM255-%Q:MYA5:FL!588&\:D34I)X>3D&DF$J\[;2>0>F[#;XBB.MY6054B)H\&$54\($6=4)#8P#4#2%(IV.YTQ?5IKE0'1BI*R.]A%9B))B^%%KEWAF12>R=41^"1"+YD4I0#M=$2EY2BRIWXO^52^]Q#^.G-#"H)MI9!]B2\+U[PG2L>\CIG3(3U]'4(JUOW>\>TWK@+6/XM.05[WZP6;PL:7^9-1U[3D^\TY25?>M*CFN-?9WS9R?WQ\>8^U]JU=>]Q?6O>3]?,O*8WU)1^$RE9MR4MYA\OR(U+X+"6_^;%7TY>6KW?I7_\]3L^7R_3A]*$Z,>GYRF=3])DD_L2'MW_QRHGZ8^DXG^,#Q0`_\P`[LP1`,0AKD0>+AML,.@Y$$*=KP_6S0S=!0SW4/@W$0^ZS03'$M0P#\PS;!Y5&;=EU_T*/MXU*+(5LNS*S/,[-6+?W5G-577?57@!78+Q59C;W500W:GVTW`7,\>2O'A759MIV6GAW52-*O/206Q1,79GOW8B3C4;[U:GF4(KL7:?/78`A/+U[0]E2W%IUW;M=.(XF8M*'F6PV#)8]P+;::56@!73%2U:5_W5NL59@BU:D-W7\CPS?##6LLQ4MY$/'30&\/@V7K/,5,;G0_41':DP^R!W#+1G#U[N[_:-QD\Q*1E'4K.29U:W.:V1S!8>#.;[#L\SE.M>)MF;)SH1!L^TZ);^T(PM5L5JTY124,M*ZPVU\37+_21J`V&0"Y[I.B[F.7;A,CX,6I[J!GG?@=9E]C5HM84;J?Z9G>LYEA5;L,5[FQ1Z1Q(;CJ)YJ@))>?C/DZQT^S-Q,^D(TCTQKM1YIMB^Y1ZPKEBP:QVL1J1L9"'?5LD"PSE=W=+#9L=I8(F2Z1P8YLIG[L-_E)W^CAMP&[HZ!@3.)[LR/YMH2[FY/Z.!)EG7*YEO?;M]ZUGR/^V['^"V7:%+M2=3R'FMQG_;-4-KKE##YBFF7K@8>XG!6[Y0#[8E-`ON7M:O&9O1I/@EI/]*C^]/YNV9:VK[Y6K^W`:O-JKG??R;*>KG9[2^^Z=V^YN6>[M^>Z^U^Y-.>M[_F^[0__\%D>XN,>Y0L?ZML^[H\^\C._Y3=?Y2F_Z!L_]!W_\>&>]$W_]%$_M]55_]5F_]5W_]6$_]F5_]FF_]FW_]G$_]W5_]WF_]WW_]X$_^(5_^(F_^(W_M^)$_^95_^9F_^9W_ZR/_^:5_^JF_^JW_^K$_^[5_^[F_^[W_^\$__,5__,F_M_,W__-$__=5__=F__=W__>$__N5__NF__NW__O$___5___F___W__P$"@,"!M!`L:/(@PHK;6/^7+\L*K2!0CWMM=.NV"^4A/^OW?/1M9M^LMN`RSURRW3EOZBR0GM==].,RMEIOHEYK_2CMR,9>N^KBOHNXSX'/*GG5MC7\:?->PAXMVQ,933FBONK[^+=5+SUP]_;?B1)@[XD&@5_K;MM$Q[9_.B+6QVT[^V7RGO\]7N^M-0[8TV_XE^CFCYFK4\_E8M5W\JGOX3ESW]PM`][E6*2M'QGN?F03W>I`]3W^G8QZ"]1@Z%!'%W0AD((N^Y_]WK&L("#="3:E\]*(D?4DS4X0Y'ZUHI2=9Z%,>6M*8M@C2!%$JI@TC4T9;V""DPE:E/3Y3%D/2T4SC=*5!I9M2?*M5#HU-6IB;8'Z@RM*G=XJM(JSTBU)&$O:5'=Y9:T"KS7=7.-M3RF^,BYU+0R=5[($U6R)#G!-X;TM6=XB*_6VF"N\JDNJ>K5>*'EYRV/M-8)\):A:#]NV%.[/8'X;HA/MNK%8GG"&MA]2FR!1+2CQ6MHY=ZR+\(MM8S"85L:1%H6G'.-;[/1&*PO.K`JOJ0TQ^MH%3MS*%M_6C)MY5VMT2=K2.INKO8ELZPB\5K)'-9V]35CX!Y#2H&,]4`MU&7?`3E?S=[VPJ@4F93_)D9B/4QCAL]P&'L'8\4_V'UGMB+=\S[`Q;>,C9LWMLXQK*.'([QRC2\(-/=^%7',U!$G+)%FYOMP[,9Y>(Z\\6QSWV156_-;`;Y>L`'..N2;:&,);?YBG5DEEF?==$\;6#_.885&9Y)(A_56AY`W:#5R1\!NAN2\9[Z[=-!.-Y+(5-L_6#\V=$M[#2'020S*D9_5)ABR32&!/9]P]='71'C?65A=0L)D0*9D/2H&K88-\ZW'Q@Y4VTQ)!998QYY'2YH%B#),R,IDLZF;X-&MDE9!9V>QDAMGDJ4W-RDI:"_)($VIW-R%)"_-',1E'#NJ$,G1'-MF6"[R%W%M$HU32#[C4G5K!WYTE5>64W([UG&51).`R5#PR(;ZB(N9PR^(>SM^)#0&8;Y-9LI!7W5:5$V2&/*J9ZM>9#FMY[LMINT^%WF^5.628?S=XV.J)EQM^(2,9_]?Q#B.Z?B/F%*:]#E1T]6,XZ2+3"=()TB&S]AVI%*8G,AD^_E*.FF@MH?&6U20]L$B0X,B$S3EEN`>:(3JBPQER:)6A*QH5&,JB+VI2&@FC,UIN-&JCM]7:C.:JC.\JC/>JC/PJD02JD0TJD16JD1XJD2:JD2\JD3>JD3PJE42JE4TJEM56JE5XJE6:JE6\JE7>JE7PJF82JF8_IV/2D2Q6DD5[-K7^DC,BJ6*O5K;#IGM',EE;L@Y:+IH,.@?;HJ2/J=M;>JF`U=A]T:G*2JGLT1J)C?.J35+\*HM;PIM?QIP:T&/\^&B,06`9"FI*"44'CE4%AFJD?I2%8*II(K_8)N*E4,F5C!9M(RT"5U)N[2$%;/8YS]*F[),BY]1F)M(B["_R%ZG>'QH>[7S=&2W*74=F&E@MV)]12[4;FK=UFG-G6X)D6[BK*:)"F(-IB+@].(M.6[&\1I=J>X8D&HE,V8"6M!H:72;*]I[50&WKQJ;**&XM8NUH;Z[*1&[6@:[>I*ZS;*;FJ2WL&^[=9V(I&M$YT!:W=)"#24J[E5MH8#23GMJ(RG"(^0V[;+6D$:.[ADHD>&GZYXT/1*'">:U@)[[4>7;)!)_0LE$(^H`5JHZ0J#1$YK8]M*ZV5+FN):_>MRVY[BYCEQ?^O=6NGBH:+4N>/Y]>WK#J[?.>L#FO`Y^>J4/F6G^'2;^;4*-I]Q]TQP5["7\PGX-,L=.JE&>V,@N[=N6[-P^-]].MQ",]$X$Z[6$.(KSN[=T^TWNLIKB98LB\..S_=YC_=B?MW8FM99Z>!DG=Z7_-[5+7F'/^773O5HF^]=;_;N&O0ZM+OD>3OFT3\U?[OC\W-N=']Z;STMRO_&*^:)@#;M&W,V=)@3HL6;/8-NY%A4*-&(/HWV]+CS)U":%'5F'.I4J%&K1)%"S1C2ZE&)M/*5F73CU*UF,26DN1;J3JE*W$+6^'>LSKDR\>?7NY=O7[U_`*7G6#(IS+="/M94IHP($3=7H"!CW[1E_5(@"F-(8]_@'*0X:P'M&1Q)4B%=+G8Q"$0M#ZA2=T:1CM@\`0$6B4QP#I(="/B>^1C`300D[@5.#60+0ITS#MP[ANK9'AXM!&.PX6SENXIDG56D/>A")MP?:3E!,X''&W($R!$-.8H02F,J4K5B@NMI:/J.T6!A&&>>JVB@0$`3^A>M5JMA$.Y)1%L7TM8060*`'+O?6T,&&%+:\[0")MXHB+RJU\J0F(483PG&,-!A@^(M9!L!+=].13E(]!Z6P3L"8"0P3-M($"\&FQ!$A/?KW4KX%IQ/U6`]+HB`"NC1M(R?XPFG]2#[6ZG#%.*JNC?6K3@#,6!:TA($A3EI;8XX2P5ZU(`/"\86/9$,>MJ;RH93?_V,HE3UICA#"]Y[-H2H`L9!"E[.QP^!)CR!`+P:%?+#-A@[^B9D0A#M(,H="'2;.Q"*N*?M*CP)=:N[W&%@1"`J,8)OP'3+'RWL".N!@]O!XQ_A]";YMR##J>&.3M,5*5,9#?LG+A0BVPVV,WQ\@8Q*T;)"^R@600R:`S:*Y--F5(Q1S$065N/P@BO@2:SJZ1@43N$:]1@?A6;%RC231G%OJ$1/AU5U1$2,JA[74ZE*"&,(/K^MH?/+_XC5C2AZ=:3V7\)U)8U:6).=9AK)@@Y2;XPPE24#(LM_,T$@-E"8%14,I6E5!`G%)Q*M3+HE/\"D,MBD!'A`6E6NMI2G1.V&5/LA$4U.125RM=2Q;R3D/W5;_1CFR$2^#*Z0&)H>BB(AB&XS>L8SKHS([L3LT$JVF^`["HP^[^(3SR[@PCR['$MQFK:8S[:T)'H0_'N`T'D)D#L(Y,^JS\*(7`,1]5&MA/,^3_0\I/1-"F3`G%O2&LN&>3S+@34_U()MU1;Q24L99F[1%;Y-:`"]=(4==.1Q-1MY[B`J768B[E`4W=HL4BLI#3'1$N@"?K"!!=_AW?49+N@C]M"8'D"E4[BY+O"MS1?Y9-PP8-S8Z7D:-7O^!-YLT[WF"Y\X95'P"S@7PB$V];X;NB&2'!USZ(M7-`_H0H%8]`MM^L(DJ3J(FN@L`,,ME$R)CFQC`,.KG&A"N:KJ:E*+2F?=TW+24I"]Q!+>-7#TM60?10)#AAH)UA_RH(QKJ`M-ZR;''"`,Q,?.11'HA1'APJN@["U#W@O+L0MMJ-B\+\J`XM&X[XG)+#*>$"B>6AH@[*(B;CHG!K`C^.&G`%R>MSSH(?OM*TRN(6Z+``3S"_KFE'A/([G,M?^@`"3"F@5(&+`HQVV&`*>I#!K`FMU^&F"&2:N]HSYSLX==2Y*U@>)..FJ5S"HOQ,T-20+R`!$O#%D1&0Q\@E$G"UM32`!#E"`UD3-30""8)B!QT"8#P@3#H"'TB2VAFD`/Y`W$!`0WRR)X9S-6C$(MY%Q"NJL"":B"#$B-=0*"ZEJ`=2$!UH+-2?_1$A!8M@]:3=!93M"QSDWX@`]8M@&&X(_(L$'@@#^@T35F%5>5^-9NM?=!85AVS5=EU=2!M%9R$A=B%+5AMQ5A7U5AXQ5:.#=:"G5AF#5F,%=DT#=57'555!=:`)5A*_Y58MC_55:`W78W588TW6F779G"V(@$77E!77E3U5F6U9GK75H'W9=MU9G2U:A=79MI@4`HD6)BLW8GU58E9W5H^W4H:U9G(W:BWU:IMW9JP5;?H59JS5;H8W:?H5:M7*U:HD77FT7:9K57N`W;GLU9GV55EC5:M#[email protected];O)56P+U4I;7;KO7:MN+58MCU;I=7;6.76?$79MXU!?!>=:]M[T3>?$E61,[N3SM+=90_N5BKF0[-E8R1N=F!F7!%>=;_61F7F9.)E.?C>#7)68MSF2#[N.#ON-[MKN)Q!F>$SF5GMF4GUN:BG6AU-FA(SNAR-MN'!5F-3EP_WF5GSE2&IMV1%N`_M_]YH:'YDCT7HGR7FCO9H5`[G?8;A*[H3D9?#$YG@/;II259J7YDC+;E8`5H=2;G(U;JFP78J=9CQDW5J29@M,)YG'KYJ"N9J_\WJS`WIM%9F-.UJE([A?69;F99E@KW9H,9K0E9BD59IPF;>MA+A^-61XC8EG6WW7(CU_52%UH2AU2B'.@XE7007V%B_U-C/W:]#S=LZSU5I%^5F=_9LYF::S78?QG)%]?)*7UAPUW9H!]0`/W=VM;W=W?W=XCW=YGW=ZKW=[OW=\SW=]WW=^[W=__W>`#WB!'WB"+WB#/WB$3WB%MQY-_Z(>&?_A^`(J&3XF)!X"*WPF'MY.(M_B-WXF+AYR,;XE_,(B0?XU_.("2M7_BU_^F'`T#YEF?YD?`FM^)`XAY.2GYF]>)GG^)G@_ZUX#YMEE?YMB%ZDO]XUT#YOG'ZIX-ZE9#ZV:!ZI%>;E#>(HX>-K'^;GX^SKC^)DZ\-MF+_ZI._X@V!ZUAC[I]=Y(PP_[PA_\CR]\M&?\P'=[QC^(OJ?\AD?YA[=YR=?\I0][RY]\MS7_\T/=[TE]ZR._\T@_]A*A\Q,_\E6!]R__[NX]\R,_YB(_\GW?\U;]\O'=YMEN=[US=]U:][7%%ZK0]ZI\?\V3_YW]=ZT4_^CE?^B(=ZZO^??H>G>ND'`+G7M_HUW^LN7>N]G>:H7_^8O"+F'^H?W?8,X^9QO>>A/"*B__O)'B>KG?N:W?/4WM?[0'_XAG_I%/?X#H=Z`?@((#`0S\=[`@@'X*!1)DZ'#@0H86&SZLB)%B1(8'M-2X\(%+@`80=21[XUQ%A290K4:J\"$`AS90-1X(D^/"?S)X^?P(-*G0HT:)&MCR)-JG0ITZ9.GT*5*?`BQ((/+2HL.;-B3(D\MQ:60AN/!5F!9(Z[EX6O-G81?B:1YM%EAJ>7'D4U=5P8;C=Q?!2-=/(0X&I$\BXD31]M%&8I99;
