IPO 2011-de-version définitive-à publier · Title: IPO 2011-de-version définitive-à publier...
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&/ͲWƌƺĨƵŶŐƐŽƌĚŶƵŶŐĞŶ ϮϬϭϮ 6HLWH RI /WK ʹ ϭ ŐůŝĞĚĞƌƚ ƐŝĐŚ ŝŶ ďƚĞŝůƵŶŐ ϭϬϬ WƵŶŬƚĞ ďƚĞŝůƵŶŐ ϭϬϬ WƵŶŬƚĞ ďƚĞŝůƵŶŐ ϭϬϬ WƵŶŬƚĞ 'ĞƐĂŵƚ ϯϬϬ WƵŶŬƚĞ ƵůĂƐƐƵŶŐƐďĞƐƚŝŵŵƵŶŐĞŶ Ŷ ĚĞŵ dĂŐ ĚĞƌ WƌƺĨƵŶŐƐǀĞƌĂŶƐƚĂůƚƵŶŐ ŵƵƐƐ ĚĞƌ ,ƵŶĚ ĚĂƐ ǀŽƌŐĞƐĐŚƌŝĞďĞŶĞ ůƚĞƌ ǀŽůůĞŶĚĞƚ ŚĂďĞŶ Ɛ ĚƺƌĨĞŶ ŬĞŝŶĞ ƵƐŶĂŚŵĞŶ ŐĞŵĂĐŚƚ ǁĞƌĚĞŶ sŽƌĂƵƐƐĞƚnjƵŶŐ njƵŵ ^ƚĂƌƚ ŝƐƚ ĞŝŶĞ ĞƌĨŽůŐƌĞŝĐŚ ĂďŐĞůĞŐƚĞ ,sd ŶĂĐŚ ĚĞŶ ŶĂƚŝŽŶĂůĞŶ ZĞŐĞůŶ ĚĞƌ >K /WK Ͳ ϭ ďƚĞŝůƵŶŐ &ćŚƌƚĞŶĂƌďĞŝƚ ŝŐĞŶĨćŚƌƚĞ ŵŝŶĚĞƐƚĞŶƐ ϯϬϬ ^ĐŚƌŝƚƚĞ ϯ ^ĐŚĞŶŬĞů Ϯ tŝŶŬĞů ;ĐĂ ϵϬ°Ϳ Ϯ ĚĞŵ ,& ŐĞŚƂƌĞŶĚĞŶ 'ĞŐĞŶƐƚćŶĚĞ ŵŝŶĚĞƐƚĞŶƐ ϮϬ DŝŶƵƚĞŶ Ăůƚ ƵƐĂƌďĞŝƚƵŶŐƐnjĞŝƚ ϭϱ ŵŝŶ ,ĂůƚĞŶ ĚĞƌ &ćŚƌƚĞ ϳϵ WƵŶŬƚĞ 'ĞŐĞŶƐƚćŶĚĞ ;ϭϭн ϭϬͿ Ϯϭ WƵŶŬƚĞ 'ĞƐĂŵƚ ϭϬϬ WƵŶŬƚĞ tĞŶŶ ĚĞƌ ,ƵŶĚ ŬĞŝŶĞ 'ĞŐĞŶƐƚćŶĚĞ ŐĞĨƵŶĚĞŶ ŚĂƚ ŬĂŶŶ ĚŝĞ ĞǁĞƌƚƵŶŐ ŵĂdžŝŵĂů ďĞĨƌŝĞĚŝŐĞŶĚ ƐĞŝŶ ůůŐĞŵĞŝŶĞ ĞƐƚŝŵŵƵŶŐĞŶ Ğƌ ĂŵƚŝĞƌĞŶĚĞ >Z ŽĚĞƌ ĚĞƌ &ćŚƌƚĞŶǀĞƌĂŶƚǁŽƌƚůŝĐŚĞ ďĞƐƚŝŵŵĞŶ ƵŶƚĞƌ ŶƉĂƐƐƵŶŐ ĂŶ ĚĂƐ ǀŽƌŚĂŶĚĞŶĞ &ćŚƌƚĞŶŐĞůćŶĚĞ ĚĞŶ sĞƌůĂƵĨ ĚĞƌ &ćŚƌƚĞ ŝĞ &ćŚƌƚĞŶ ŵƺƐƐĞŶ ǀĞƌƐĐŚŝĞĚĞŶ ŐĞůĞŐƚ ǁĞƌĚĞŶ Ɛ ĚĂƌĨ ŶŝĐŚƚ ƐĞŝŶ ĚĂƐƐ nj ďĞŝ ũĞĚĞƌ &ćŚƌƚĞ ĚŝĞ ĞŝŶnjĞůŶĞŶ tŝŶŬĞů ƵŶĚ 'ĞŐĞŶƐƚćŶĚĞ ŝŶ ĚĞƌ ŐůĞŝĐŚĞŶ ŶƚĨĞƌŶƵŶŐ ďnjǁ ŝŶ ŐůĞŝĐŚĞŶ ďƐƚćŶĚĞŶ ůŝĞŐĞŶ ŝĞ ďŐĂŶŐƐƐƚĞůůĞ ĚĞƌ &ćŚƌƚĞ ŵƵƐƐ ĚƵƌĐŚ ĞŝŶ ^ĐŚŝůĚ ŐƵƚ ŐĞŬĞŶŶnjĞŝĐŚŶĞƚ ƐĞŝŶ ǁĞůĐŚĞƐ ƵŶŵŝƚƚĞůďĂƌ ůŝŶŬƐ ŶĞďĞŶ ĚĞƌ ďŐĂŶŐƐƐƚĞůůĞ ŝŶ ĚĞŶ ŽĚĞŶ ŐĞƐƚĞĐŬƚ ǁŝƌĚ ŝĞ ZĞŝŚĞŶĨŽůŐĞ ĚĞƌ dĞŝůŶĞŚŵĞƌ ǁŝƌĚ ŶĂĐŚ ĚĞŵ >ĞŐĞŶ ĚĞƌ &ćŚƌƚĞ ŝŵ ĞŝƐĞŝŶ ĚĞƐ >Z ĂƵƐŐĞůŽƐƚ &ćŚƌƚĞŶĨćŚŝŐĞƌ hŶƚĞƌŐƌƵŶĚ ůƐ ĨćŚƌƚĞŶĨćŚŝŐĞƌ hŶƚĞƌŐƌƵŶĚ ŬŽŵŵĞŶ ĂůůĞ ŶĂƚƺƌůŝĐŚĞŶ ƂĚĞŶ ǁŝĞ nj tŝĞƐĞ ĐŬĞƌ ƵŶĚ tĂůĚďŽĚĞŶ ŝŶ &ƌĂŐĞ ^ŝĐŚƚĨćŚƌƚĞŶ ƐŝŶĚ ƐŽǁĞŝƚ ǁŝĞ ŵƂŐůŝĐŚ njƵ ǀĞƌŵĞŝĚĞŶ /Ŷ ĂůůĞŶ WƌƺĨƵŶŐƐƐƚƵĨĞŶ ŝƐƚ ŝŶ ŶƉĂƐƐƵŶŐ ĂŶ ĚĂƐ ǀŽƌŚĂŶĚĞŶĞ &ćŚƌƚĞŶŐĞůćŶĚĞ tĞĐŚƐĞůŐĞůćŶĚĞ ŵƂŐůŝĐŚ >ĞŐĞŶ ĚĞƌ &ćŚƌƚĞ Ğŵ ĂŵƚŝĞƌĞŶĚĞŶ >ĞŝƐƚƵŶŐƐƌŝĐŚƚĞƌ ďnjǁ &ćŚƌƚĞŶďĞĂƵĨƚƌĂŐƚĞŶ ŽďůŝĞŐƚ Ͳ ĚĂƐ ŝŶƚĞŝůĞŶ ĚĞƐ &ćŚƌƚĞŶǀĞƌůĂƵĨĞƐ Ͳ ĚĂƐ ŝŶǁĞŝƐĞŶ ĚĞƌ &ćŚƌƚĞŶůĞŐĞƌ Ͳ ĚĂƐ >ĞŐĞŶ ĚĞƌ &ćŚƌƚĞŶ njƵ ďĞĂƵĨƐŝĐŚƚŝŐĞŶ Ğƌ sĞƌůĂƵĨ ĚĞƌ ĞŝŶnjĞůŶĞŶ &ćŚƌƚĞ ŝƐƚ ĚĞŵ ǀŽƌŚĂŶĚĞŶĞŶ 'ĞůćŶĚĞ ĂŶnjƵƉĂƐƐĞŶ Ğŝŵ >ĞŐĞŶ ĚĞƌ &ćŚƌƚĞŶ ŝƐƚ ĚĂƌĂƵĨ njƵ ĂĐŚƚĞŶ ĚĂƐƐ ƐŝĞ ŝŶ ŶĂƚƺƌůŝĐŚĞƌ 'ĂŶŐĂƌƚ ŐĞůĞŐƚ ǁĞƌĚĞŶ ,ŝůĨĞƐƚĞůůƵŶŐĞŶ ĚĞƐ &> ĚƵƌĐŚ ƵŶŶĂƚƺƌůŝĐŚĞ 'ĂŶŐĂƌƚ ŝŵ ĞƌĞŝĐŚ ĚĞƌ ^ĐŚĞŶŬĞů tŝŶŬĞů 'ĞŐĞŶƐƚćŶĚĞ ƐŝŶĚ ŝŵ 'ĞƐĂŵƚďĞƌĞŝĐŚ ĚĞƌ &ćŚƌƚĞ ŶŝĐŚƚ njƵŐĞůĂƐƐĞŶ
Transcript of IPO 2011-de-version définitive-à publier · Title: IPO 2011-de-version définitive-à publier...
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