ࡱ> /1*+,-.y jbjbj >{{֔/ $$$8\0$)V444hhhCCC) ) ) ) ) ) )$ ,."D)-CCCCCD)hhq)#"#"#"Chh)#"C)#"#":&,&'h =& ))0)&.//&'&'d/'#"CCCD)D)w!CCC)CCCC/CCCCCCCCC : Investors Guide to Special Situations in the Stock Market by Maurece Schiller (1966) Lesson: These opportunities will never go away. STUBS Stubs represent residual interests of companies in process of liquidation. These terminal securities exist because of specific and contingent values remaining to be processed. Reserved and un-liquidated properties are repositories of real assets while litigation usually holds clues to contingent interests. Stubs come into being as a result of a major distribution of assets by a company in liquidation. The withheld portion of total assets and claims to be cleared are assets underlying the residual Stub. A Stub then is unfinished business. Among names for securities having characteristics of stubs are: Certificates of beneficial interest, Certificates of Participation, Certificates of Contingent Interest, Receipts, Scrip, Stub equity and Liquidation Certificates. Another definition. A stub is the  HYPERLINK "http://en.wikipedia.org/wiki/Stock" \o "Stock" stock representing the remaining  HYPERLINK "http://en.wikipedia.org/wiki/Shareholders%27_equity" \o "Shareholders' equity" equity in a  HYPERLINK "http://en.wikipedia.org/wiki/Corporation" \o "Corporation" corporation left over after a major cash or security distribution from a  HYPERLINK "http://en.wikipedia.org/wiki/Buyout" \o "Buyout" buyout, a  HYPERLINK "http://en.wikipedia.org/wiki/Spin-out" \o "Spin-out" spin-out, a  HYPERLINK "http://en.wikipedia.org/wiki/Demerger" \o "Demerger" demerger or some other form of  HYPERLINK "http://en.wikipedia.org/wiki/Restructuring" \o "Restructuring" restructuring removes most of the company's operations from the parent corporation. A stub may retain the name of the original corporation, or in some cases may take another name as part of the restructuring. HYPERLINK "http://en.wikipedia.org/wiki/Stub_%28stock%29" \l "cite_note-0" \o "" [1] CAPITAL GAIN POTENTIALS Bona fide values inherent in Stubs harboring capital gain potentials may be uncovered int e the following Corporate Financial reports: Stated net assets. Tax litigation. Litigation wherein company is claimant. Reversionary provisions in an agreement between company and security issue. Reserves established for specific contingencies that may or may not materialize. Capital gain potentials in Stubs reflect discount from indicated value and to that extent they are undervalued. The rate of return on money invested should be viewed in relation to expected duration period for holding the Stubs. Stubs represent non-operating companies and as such it is unlikely that earned income will accrue. Therefore, the sole return on money invested will arise as capital gains. Where cost price is relatively low compared to expected potential gain, then rate of return could be projected over a five year period. If such timing would offer a minimum 10% return, then the situation holds interest. A usual practice in Stub liquidating procedures is distribution in small doses of the remaining assets. Therefore, a good approach when investing in Stubs is to calculate when final distributions are being made so that little or no money remains in the Stub. Thus, in the life of a stub while time is a factor, it is not a source of concern. Stubs are money deals in that one invests X dollars and expects X dollars in return. While there is little expectancy of additional values developing, it has been observed over the years that Stub situations, particularly those involved in tax litigations, can bring windfalls of substantial, unexpected additional payments. IDENTIFYING NAMES Residual interests in a company are not only known as Stubs but are also called Certificates of Participation; Certificates of Beneficial Interest; Certificates of Contingent Interest; Liquidating Certificates; Reversionary Certificates. These are negotiable instruments and are traded in securities markets. Physical stubs are original stock certificates over-stamped with the legend describing distributions (in 1966). Some liquidating programs do not use Stubs. In these circumstances, stock certificates are deposited with a bank or trustee who processes the remaining liquidating steps. Distributions are made directly to security holders whole names appear as registered owners at time of first distribution. While this does not make for ready negotiability, nevertheless these residual interests may be traded, i.e. purchased and sold in the securities market by use of contracts. Generally, contracts are recognized by trustees of liquidating companies as legal transfers. A point to keep in mind is that since Stubs represent the final stage of a companys existence, assets may be placed in care of a trustee. The liquidating company and bank processing liquidating distributions can advise on location of the trustee. It is helpful to have your name on the trustee residual interest list since this is the main source of information. The trustee will keep you informed on final action, litigation and distributions. HOW TO ESTABLISH A STUB POSITION Investors can acquire Stubs through two procedures. One, of course, is direct purchase in the market after they have been established. When residual assets are complex and a Stub is subject to price fluctuations, this approach is most practical. Delhi Contract Units is an example of fluctuation of stubs since issuance, having been priced at $4 and then around $3. The other method offers possibility of creating a Stub position at low or no cost basis. This is a more frequently used procedure. The method is to purchase stock of a company in liquidation prior to the primary distribution. It is not unusual for a stock to be priced around or even lower than indicated initial distributions during the early part of the liquidating procedure or at time of announcement of proposed liquidation. Since the amount of the first distribution is known, it is a simple matter to calculate cost of Stub by deducting amount of indicated distribution from market price. Purchase of stock in expectation of a liquidating distribution posed no tax problem since the distribution generally is treated as return of capital and as such reduced the investors cost basis. ANALYSIS OF STUBS Financial analytical procedure separates real assets from contingent potentials. Indicated net worth of a Stub is often stated by a company in its liquidating program. Asset value can also be gleaned from a companys balance sheet issued at time of the proposed liquidation plan, deducting initial distribution from indicated asset value. True residual assets show up clearlyand since a terminal situation has little or no expenses, these assets should remain constant. Principal assets of Stubs comprise cash, marketable securities and unsold properties. Ultimate values may be influenced either beneficially or adversely by disposition of reserves and litigation. Having calculated an indicated asset value, the amount of reserves and composition of litigation must be evaluated. This is generally found in Notice of Meeting dealing with liquidation or other corporate actions. The schedule of estimated payments should be checked since you want to know why funds are being held for distribution. Values in Stubs arise from two sources, real assets and contingent claims. Real assets are usually clearly defined since, by definition, a Stub represents remaining assets after liabilities have been satisfied. However, litigation or claims are not fixed amounts and settlement usually is subject to compromise and adjustment. Since contingencies offer potential capital gains, it is advisable to estimate values of claims on a basis of win alla midway compromiseor lose all. This spread of values offers a basis for estimating ultimate worth of the Stub. ESTIMATING MAXIMUM AND MINIMUM VALUES A helpful approach to Stubs is to evaluate maximum and minimum values. To do this we look at real and contingent values from many angles. Step One relates residual net assets to cost of Stub. If the Stub was acquired by purchase of stock prior to first distribution, then cost is price to stock less amount of that distribution. For example, if stock cost $21 a share and distribution was $20 per share, the cost of Stub would be $1 s share. If stock cost $19 a share and distribution was $20 a share, then cost basis is minus $1, or no cost. Direct purchase of Stub, of course, immediately establishes your cost price. In Step Two, we assume company is the defendant in contingency actions and we view these claims as having been lost. On this basis, reserves held for such claims have been consumed. Therefore, the only values accruing to the Stubs will be net value. This amount is the minimum expectation. Step Three views the situation assuming that claims against reserves are not upheld. In that case, reserves accrue to Stubs. The reserves and net asset value are added to give maximum expectancy based on no erosion of reserves. Step Four views the company as a claimant in litigation, In this case, claims may redound to Stub holders. However, if claims are lost, nothing is added to asset value. If claims are won, then value of claims and assets are joined to give maximum expectation. In the foregoing circumstances, minimum and maximum expectations have been conjectured under varied conditions whereby company wins or loses as a defendant and company wins or loses as a claimant. HIDDEN VALUES Where distribution to Stubs included securities of another company, it would be advisable to check the tax status of that company. This may have great value in bringing to light a tax loss carryover applicable to the shares. Such a situation arose a number of years ago when American Power & Light distributed shares of Portland Gas & Coke. A tax ruling permitted the cost of Portland Gas & Coke stock to be computed at $69.87 a share. Since the stock was priced under $20, shareholders were in a position to create a substantial loss position. Stubs that reflect litigation as the main cause of their protracted existence include British Columbia Power and Holyoke Shares. Types of Stubs The individual characteristics of a Stub represent their motive for existence. The Common Stub comes about from residual assets in a liquidating company. Ridgeway Corp. is representative of a Sub having definite assets awaiting sale. Stubs such as Delhi Taylor Oil and Producing Properties exist because of precautionary measures against claims that may arise. Certificates of Participation represent interests in a reserve fund created to expedite liquidation. AVC Co. Participating Certificates is an example of this type. Reversionary Certificates reflect the turning action implied in the name. This type of Stub may be viewed as a return of property at expiration of a lease. However, a reversionary agreement may not be confined to a Stub, as seen in the Western Union situation. Here the company has an agreement with Gold and Stock Telegraph Company. To return substantial assets at termination of a long-term lease due on January 1, 1981. Funds to meet this reversionary claim are carried on Western Unions book as deferred non-interest bearing liability and is included on the balance sheet in long-term debt. The Reversionary Certificates of Western Railroad of Alabama, on the other hand, are entitled to one share of stock of the railroad when reversion becomes effective in 1980. Other stubs represent interest in varied claims, such as PACO, Inc. where the Stubs interest is based on the amount of tax refund. Certificates of Beneficial Interest arise where assets of a liquidating situation are placed in trust. This may be seen in Canal Bank & Trust. Where income would be subject to depletion charges and thus free from tax. 1959 Edition, How to Profit from Special Situations in the Stock Market by Maurece Schiller Since stubs may originate in various investment areas it would be helpful to classify them for easy recognition. Classification is additionally useful since a stubs category can point to its profit possibilities. The accompanying tabulation classifies stubs as to place of origin, issuing company, and type of corporate action which created them. Place of OriginIssuing CorporationType of Corporate ActionMerger/AcquisitionOwens-Illinois GlassReserve for undesignated ClaimsReorganizationConsolidated Retail Stores, Inc.Accrued-dividend claimRecapitalizationAtlanta & West Point RR, Western RR of AlabamaReversionary claim Reversionary claimTaxStandard Gas & ElectricTax suitLiquidationRidgeway Co.Residual assetLegal suitInternational Paper CompanyContingent Reserve ClaimDissolutionAmerican Power & LightLiquidation and tax rulingReorganizationNew York N.H. and H. RRBeneficial Interest. Beside placing a stub in its proper corporate-action category, it can be subdivided into type of assets which support each claim. These are: fixed assets, participating assets, and fluctuating assets. The fixed-asset stub is a discount situation against a cash claim. The Consolidated Retail Stores example discusses the stub in relation to a claim for a specified amount of money. Because a stub is, in itself, a corporate action, comprehensive information about it is usually available from the issuing corporation. Probably the best way to evaluate a stub is to know the reasons for its existence. This will show the potential worth and the probable duration period required for the stubs termination. Since a stub generally is created to meet a specific condition, no typical stub exists. Therefore, each stub should be examined for a possible windfall, which often raises profits above the initial estimate. Stubs Representing Undesignated Claims Owens-Illinois Glass. Escrow certificates were issued in October 1956, and were priced around $1.25 in the unlisted market. Currently the certificates are priced around $1.88, reflecting the approaching termination date and the absence of significant claims against the reserve fund. The certificates represent a potential participation in 92,587 shares of Owens preferred stock, which was placed in escrow to protect Owens against any contingencies arising from the merger with National Container Corp. Each escrow certificate has $2.25 in par value of Owens 4% preferred stock held for eventual distribution to its holder. Normal termination of the escrow is December 31, 1960. This stub has an unusual feature in that the preferred stock is convertible into 1.05 shares of Owens-Corning Fiberglass Corp. until 1963, at which time the conversion becomes one share. This stub offered at its inception an estimated profit of $1 for each $1.25 invested. Since the duration would be four years, the indicated rate of return is 20%. The present price of $1.88 reflects this rate of return. A purchase at $1.25 would now show a profit of 62.5 cents, or a return of 25% for the two years during which the stubs would have been held. The quality of Owens preferred stock gave the situation a minimum-risk rating, and the conversion feature, which could become valuable offered romance. Stubs Representing Accrued-dividend Claim Consolidated Retail Stores scrip (stubs) came into being in October, 1957, at a price around 50 cents in the over-the-counter market. They subsequently rose to $1. This showed a 100% profit in one year. The stubs were issued to the former 4.25% cumulative preferred stock, Series A, in settlement of accrued dividends. These certificates entitle holders to receive the accrued dividends in cash before any dividends are declared on the recapitalized preferred and common stock. The accrued and unpaid dividends amounted to $2.65 as of July 1957. As the certificates were priced around 50 cents, this was equivalent to purchasing a claim of $2.65 for 19% of its face value. Payments on these certificates depend upon the successful operation of the reorganized enterprise. There are 44,490 shares of old preferred outstanding, against which $142,000 of dividend scrip was issued. The reorganization of this company is discussed below: The Consolidated Retail Stores reorganization presents an ideal illustration of an opportunity for substantial profits most readily recognized by those investors whose sights have been oriented toward special situations. The companys difficulties had been aired in the newspapers a long time before the formal announcement of a reorganization. Official notification of the proposed plan of recapitalization and debt arrangement was presented in the notice of a special meeting to stockholders. The company had been operating since September, 1956, under Chapter XI of the Bankruptcy Act. The special meeting was called for Sept. 10, 1957. The plan was released to the public on Aug. 2, 1957. The market prices of the securities at that date were: preferred stock approximately 10.5; common stock approximately 2.875. The gist of the plan was an offer by Mr. A.M. Sonnabend, who proposed to settle the debts of the defunct company in return for control of the corporation. Depending on various optional factors in the recapitalization, Mr. Sonnabends stock interest in it would range from 45% to 56.8%. The details of the plan follow: Creditors of the company with claims under $100 and those with priority claims would be paid off in cash totaling $141,397. Other unsecured claims would be settled by issuance of non-interest-bearing ten-year promissory notes for 85% of the claim, totaling $4,656,993. The 15% balance of each claim would be satisfied with two year, 5% convertible notes, of which $821,821 would be issued. The plan proposed reclassification of each o0utstanding share of common stock into one half share of recapitalized commons and each preferred (4.25%) stock into one share of 5% preferred and four of the new common shares. The new preferred would be convertible into five new common shares. The new preferreds would also receive warrants for accrued dividends amounting to $2.65 as of July 1, 1957. The estimated values of the new securities and the package to be received as related to the preferred and common stock follows: For each share of 4.25% preferred Estimated ValueThe holder would receive: One share new preferred ($20 par) convertible into five common shares $10 Four shares new common stock $8 One Warrant for accrued dividends, nominal value* Estimated value of securities to be received $18For each old common share the holder would receive: One-half of new common  $2 The foregoing projections were based on estimates made around mid-August. As the old preferred was priced around the $13 to $14 level, a substantial profit potential existed through purchase of the shares. Contrawiser, as the old common was priced around $23 and the holder would receive only half a share of the new stock, the common as too high. Consequently profit possibilities via a hedging prodcedure were contingent upon selling the old common stock short. Approach to Analysis of the Plan Two elements in this situation stood out sharply. Complete liquidation would give the creditors about $0.50 on the dollar, while the equity interests would be wiped out; and potential values in the reorganized company would come mainly from the use of the $3.8 million tax-loss carry-forward. This, and the sale of unprofitable stores, could inject hope for the reorganized company. The financial statements and reorganization-plan material contained all the needed information. The determining factor was the obvious benefit to be derived from going along with the plan. Opposition did exist, but its position was weak, since no other workable plan had been submitted, nor was one in view. The Consolidated Retail Stores Corp. reorganization is an illustration of procedures valuable in trading opportunities which often arise in reorganizations. Here it was possible for the informed investor to participate via two kinds of trading positions, namely (1) a straight long position of the old preferred, (2) a hedge position created by selling part or all the common while retaining a long position in the old preferred. The investors thinking proceeds as follows: How to Talk It Over with Yourself If the old common had a nominal value of $1 per share based on the recapitalization and debt adjustment plan (keep in mind that the tax loss gives value to the new equity position), then the new common would be worth $2 per share, since it would be issued at the rate of one-half share for each old common. The preferred, in effect, would receive nine shares of new common, four shares directly and five shares available upon conversion of the new preferred. Thus, at $2 per share, the nine shares of new common would be worth $18 plus the value of the warrant. As the preferred was available around the $13 to $14 level in August-September, a purchase then of a straight long position would have worked out as follows: Buy, 100 shares of old preferred aqt $14, cost$1,400At the time the plan was confirmed in October the following transaction was possible:Sell, 100 old preferred at $18.5, proceeds$1,850Gross profit (duration 2 months) $450 Second example Hedge Position Investors would have hedged this situation as follows:Buy, 100 preferred at $14, cost $1,400At the same time:Sell, 900 old common short at 2, proceeds $1,800Subsequently,Buy, 900 old common at $1, cost -$900Gross Profit $900Sell, 100 old preferred at $18.5, proceeds $1,850Gross profit on preferred transaction $450Combined profit of short sale and long preferred $1,350 A thought to bear in mind is that the foregoing trading procedures have similar application where an exchange of securities is in operation. Reversionary Certificates A reversionary certificate gets its name from the turning action it represents. The action can be compared to the return of leased property at the expiration of the lease. The assets behind a Reversionary Certificate would become available after the contingency for which the certificates were created had been met. The reorganization of the Georgia RR and Banking Company established two reversionary-certificates, special situation investments. These reversionary certificates are presently available in the market at prices averaging a fraction of the value of the asset underlying the certificates. However, the assets which are represented by designated shares will not be available to the certificate holders until 1980. Nevertheless, intermediate profit potentials exist through market fluctuations. Then, too, the long-term characteristics of the certificates make them interesting as gifts to children and for speculative holdings by investment companies. Two reversionary certificate situations came into being in dividends declared by the Georgia RR and Banking Co. on July 7, 1954. The individual certificates represent the railroad companys reversionary interest in 12,180 shares of stock of the Western Railway of Alabama in one issue and in 7,000 shares of capital stock of the Atlanta & West RR Co. in the other issue. The shares are held by the lessees. Dividends and returns are paid to the Railroad company. The Western Railway of Alabama Participating certificates, current market price $8 per share Capital stock, current market price $75 per share A Western Railway of Alabama certificate is entitled to one share of stock of the railroad company when the reversion becomes effective in 1980. The investors problem is to establish a value for an asset that will not be available until two decades hence. The Analytical Approach The Western Railway of Alabama is affiliated with the Georgia Railroad and Banking Co. and the Atlantic Coast Line Railroad. The road extends from West Point, Ga., to Selma, Ala. The 133 miles of track operate mainly in Alabama. The line forms a connecting link of a through route from Washington, D.C. to Jackson, Miss. There are 30,000 shares of capital stock. Gross assets amount to $11.7 million. Funded debt totals $1.8 million. Net current assets are $1.2 million. The earnings record has been good since the companys inception in the early 1900s. The dividend record parallels the good earnings record. Some dividends have been paid in every year since 1902, except for four depression years in the 1930s. The recent years price range of the shares was between a high of 108 and a low of 75. Thus the railroad has (1) valuable track, (2) good earnings, (3) substantial continuing dividends, and (4) large asset value. The investors thinking might see the present price for the certificates as the knockdown value of the property. On this basis, the loss would be the absence of a return on the investment, while the profit could be substantial in the light of the present value of the actual stock. The investment thinking depends on your conjecture of the future. Should you think that the railroad will not be functioning by 1980, and the property will not have a value even as junk, the certificates would hold no interest. A point to bear in mind is that the certificates reflect, through the market prices of the shares and the certificates, the companys going concern outlook. Three years ago the certificates were available around the $5 level; the present price is $9, and the price has touched the $12.50 level. Standard Gas & Electric Company: A Tax-suit Stub The stubs presently are priced around $3 per share on the NYSE. This is a liquidation. The stubs represent an interest in fixed assets and a tax reserve fund. The fixed assets comprise marketable securities and cash amounting to approximately $6.20 per share as of Dec. 31, 1957. From this sum a reserve fund equal to $1.85 per share has been established to meet Federal tax liabilities for prior years, leaving the stubs an estimated minimum worth of around $4.35 per share. Additional value is contingent upon the outcome of the tax case, which is in the Appellate Division of the IRS. Comprehensive information about the tax case is contained in the companys annual report. Since the probable profit may be estimated at $1.35 gross the situation shows a potential return of 45% on the investment. The tax matters pertain to the years 1942 to 1950, inclusive. While the nature of the tax status is complex, determination must be made. Therefore you could approach this situation looking toward a maximum duration period of four years. This would show a return of 11%. However, you should not lose sight of the tax contingency, which will have the final influence in this case. Ridgeway Corporation: A Residual Asset This stub, priced around $8 per share on the Amex, offers participation in a residual asset resulting from a liquidation. The principal asset comprised a tract of 800 undeveloped acres in the vicinity of the International Airport at Miami, FLA. Besides this, there are small holding in the Palm Beach area. Estimated land values indicate a liquidation value around $11.6 per share. The significant factor here is the duration period, since the stock priced at about a discount of 45% from its expected liquidating value. The trusted, situated in Miami, FL is the most likely source of information about progress toward complete liquidation. The company issues reports showing the cash position, estimated value of land holdings and tax liabilities. This situation illustrates the significance of sponsorship of a corporate action. Here we have a liquidation procedure controlled by management which has disposed of their stock interest. Since the company is in liquidation, the corporate books are closed and stockholders meetings are not held. Because of this it is difficult to change management. Nevertheless, from the investors point of view, it would be worth checking developments since a sale of the major properties would have profit possibilities. The financial analysis is simple since no contingencies exist. The value of the land, less Federal taxes and the small amount of liabilities, will establish the amount to be divided among the outstanding shares. The acreage can be appraised through Miami real estate firms. The company is the most likely source of background information on finances, tax, and legal matters. The duration period is the point to watch, and this can be checked with the company. International Paper Co., Certificates of Contingent Interest. This situation developed a windfall of substantial profits shortly after issuance. The certificates were priced around 20 were first issued and now are selling around 69. These certificates were issued in connection with merger of international paper and long they'll company. Each certificate represents a interest in a user on presently aggregating 38,000 shares of international paper common stock. The fund was established to protect International Paper against expenses and lost on account of federal taxes of long they'll company, and a lawsuit brought against that company. He lawsuit has been settled. Attacks matter is that the lower level of court procedure. However, a windfall possibility has come to light in the companies tax refund claim against the government, which could make the company to restate the and rather than the dispenser of bonds. His possibility was reflected in this or that gets sharp rise in price. At this point of 30,000 shares of International Paper held in Bonn have a market value of work .2 million equal to $84 per certificate. This is 33% greater than the market price. Since the situation has had a dramatic change from a participation in a residual asset to a dynamic legal tax matter, some risk element is now present. The most likely sources for information in this situation is the company and legal affiliates. The annual report. Complete discussion of the background of the certificates. Investigation and checking rather than financial analysis is the procedure. Recaps & Stub Stocks In a Recapitalization a company usually buys a large portion of shares back from shareholders. An example of this is a company trading at $18 that decides to distribute $15 dollars of bonds to investors, at $18 per share well assume it earns $1.50 per shares, or a P/E of 12x, taking out the 40% tax rate it is making $2.50. After the recap it should be trading at $3 per share ($18 minus the $15 in bonds), it still earns $2.50 per share, assuming the bonds paid ten percent we first subtract $1.50 from earnings for interest expense, which is tax deductible, to get $1 per share, then multiply it by the 40% tax rate to get $.60 EPS. If the company is trading at $3 this is a P/E of 5, probably too low. Of course the highly leveraged stub stock (stock after recap) probably doesnt deserve the same P/E as it did before, but if we assume an 8.33 P/E is justifiable its has the same business model, the only thing that has changed is the amount of debt - it should trade at $5, giving us a recap package of $20 ($5 stock, plus $15 bonds), this is a gain of 11% from the original $18. Recaps arent as popular as they were in the mid 80s, but when you find one Joel Greenblatt says, There is almost no other area of the stock market where research and careful analysis can be rewarded as quickly and generously.  HYPERLINK "http://value-investing-forum.com/viewtopic.php?t=56"  INCLUDEPICTURE "http://www.blastinvest.com/image/boards_mini.gif" \* MERGEFORMATINET Stub Stocks, Warrants, Options, and LEAPs: Derivatives can make good investments, but leverage cuts both ways. Stub stocks, on the other hand, can make excellent investments. A stub stock is any stock in which the publicly traded shares represent only a small portion of the overall company. Usually, the vast majority are owned by another corporation. Since the majority shareholder is also the controlling shareholder in this case, you can be sure investors best interests always come first. That doesnt necessarily mean external investors will prosper, but it does increase the odds. As always, pick your spots here.  HYPERLINK "http://bertfresno.wordpress.com/2008/10/13/porsche-stub-stock/" \o "Permanent Link: Porsche StubStock" Porsche StubStock One last post about  HYPERLINK "http://bertfresno.wordpress.com/2008/10/07/greenlight-capitals-letter-to-investors/" Greenlight Capitals letter to investors. Below is a excerpt about Porsche AG, who holds a 35% interest in Volkswagen, an investment that is larger than Porsches current market cap. The PAH3 stub (symbol formerly POR) fell sharply during the quarter, as PAH3 increased its stake in Volkswagen from ~30% to ~35% and the state of Lower Saxony postured that it would consider increasing its stake from ~20% to ~25% in order to keep its veto rights if the European Union deemed that this was necessary. We believe that these actions are providing an artificial bid for Volkswagen shares in the market place. We also suspect the stub value suffered due to liquidations by other funds including a certain failed investment bank that market participants believe held the stub. On a fundamental basis, we believe that Volkswagen is highly overvalued at 21 times estimated 2009 EPS, more than twice the multiple of its peer group. PAH3s market cap is 13.3 billion and it has 4.2 billion of net debt. At current market prices, the company s 35% interest in Volkswagen is worth 28.9 billion. Example: Convera Corporation(NASDAQ:CNVR) November 11, 2009  HYPERLINK "http://www.google.com/finance?q=cnvr" Convera Corporation (NASDAQ:CNVR) is a liquidation play. The stock closed yesterday at $0.221. The company estimates the value of the distributions to be in the range of $0.37 to $0.45 per share. You pay out 22 to 24 cents then get back quickly 18 cents and then 4 to 5 cents in six and 12 monthssop you get your money back plus some leaving a free option worth stock in a new company which could be worth $0 or 10 to 20 cents per stub. Little-to-no money at risk and perhaps even payment to hold the lottery ticket. The company has already voted to be liquidated and, most importantly, the majority shareholder, is Allen & Company with 20% of the stock. Allen & Company and Herbert Allen are well respected and Mr. Allen sits on the board of Coke. We will ride along with him so we are aligned with the controlling shareholder and in this situation we do not have to worry quite as much about management incentives being contrary to our position     Approvals According to the  HYPERLINK "http://www.sec.gov/Archives/edgar/data/1125536/000114420409050016/v161040_pre14c.htm" 14(c) information statement: The board approved the plan of dissolution on May 29, 2009. The liquidation will not be put to a shareholder vote as the affirmative vote of holders of a majority of all outstanding shares of our Class A Common Stock is required. In order to approve the election of directors, the affirmative vote of a plurality of all outstanding shares of our Class A Common Stock is required. As of the close of business on September 22, 2009, the Record Date for the approval of the above matters, there were 53,501,183 shares of our Class A Common Stock issued and outstanding, which shares are entitled to one vote per share. Holders of our Class A Common Stock which represented a majority of the voting power of our outstanding capital stock as of the Record Date, have executed a written consent in favor of the actions described above and have delivered it to us on September 22, 2009, the Consent Date. Therefore, no other consents will be solicited in connection with this Information Statement. Distributions From the information statement: We plan to distribute $10,000,000 shortly after the closing of the Merger, with the remaining $4,000,000 to be distributed in $2,000,000 increments at six months and 12 months after the closing of the Merger, subject to possible holdbacks for potential liabilities and on-going expenses deemed necessary by our board of directors in its sole discretion. $0.261 per share in total. The present value of this cash distribution, assuming a discount rate of 10%, is estimated at $0.26 per share.  Hempstead assessed the value indication associated with a one-third equity interest in VSW based upon the discounted cash flows methodology. Specifically, under a discounted cash flows methodology, the value of a companys stock is determined by discounting to present value the expected returns that accrue to holders of such equity. Projected cash flows for VSW were based upon projected financial data prepared by our management. Estimated cash flows to equity holders were discounted to present value based upon a range of discount rates, from 25% to 35%. This range of discount rates is reflective of the required rates of return on later-stage venture capital investments. The resultant value indications for the VSW component of the transaction, on a per-Convera share basis, are as follows:  Based upon the above analyses, the value indications for the cash and VSW stock to be received by our stockholders in exchange for their current Convera shares are within a range of $0.37 to $0.45 per Convera share. Conclusion The trading price of the VSW stock is an unknown, but the $0.26 in cash distributions offer some protection at yesterdays close of $0.221. Buying up to say $0.24 means getting paid $0.02 to hold a free option on the VSW stock, which, according to Hempstead, the financial consultant providing the fairness opinion, could be worth between $0.11 and $0.19 per share. Its very thinly traded at this price. The S&P500 closed yesterday at 1,093.01.     Investors Guide to Special Situations in the Stock Market by Maurece Schiller (1966) Chapter on Stub Stocks PAGE   HYPERLINK "http://www.csinvesting.wordpress.com" www.csinvesting.wordpress.com studying/teaching/investing Page  PAGE \* MERGEFORMAT 12 :OUVWL M μxiZJZ;ZiZiZiZhth/_CJOJQJ^Jhth 6CJOJQJ^Jhth CJOJQJ^Jhth PICJOJQJ^J"hth'5CJOJQJ\^J"hth 5CJOJQJ\^J hth~CJOJQJ^JaJht5CJOJQJ^JaJ#htht5CJOJQJ^JaJ#hth~5CJOJQJ^JaJhth~CJOJQJ^Jhth~>*CJOJQJ^JW $7Go ~1[dgdndgd`vdgdRodgd]dgdcdgd PI g s   o p v w } ~   N O U V Z [ ָssssss hth=0JCJOJQJ^J%jhth=CJOJQJU^J"hth=5CJOJQJ\^Jhth=CJOJQJ^JhthcCJOJQJ^JhthHlcCJOJQJ^Jhth(CJOJQJ^Jhth CJOJQJ^JhtCJOJQJ^J- YZgh+,~mn [ݷq_PAP2hth CJOJQJ^JhthtCJOJQJ^Jhth5aCJOJQJ^J"hth 5CJOJQJ\^J"hthc5CJOJQJ\^J"hth=5CJOJQJ\^J#hth=0JCJH*OJQJ^Jhth=CJH*OJQJ^J(jhth=CJH*OJQJU^J hth=0JCJOJQJ^Jhth=CJOJQJ^J%jhth=CJOJQJU^J[`0178GP+;<=>CIJ1?@BC)ⴤqq"hth/_5CJOJQJ\^J"hth 5CJOJQJ\^Jhth/_CJOJQJ^Jhth/_>*CJOJQJ^Jhth >*CJOJQJ^Jhth PICJOJQJ^Jhth5aCJOJQJ^Jhth CJOJQJ^JhthcCJOJQJ^J()01?rs-./0eg;ͯ;͎ppppp^Lp"hth`v5CJOJQJ\^J"hth!x5CJOJQJ\^Jhth!xCJOJQJ^Jhth`vCJOJQJ^JhthCJOJQJ^J"hth 6CJOJQJ]^Jhth CJOJQJ^Jhth/_CJOJQJ^Jhth CJOJQJ^J"hth/_6CJOJQJ]^J"hth 6CJOJQJ]^J?@[y~<de-./0v w """###$$$p$q$$񲢲~oo_oo_hth4:>*CJOJQJ^Jhth4:CJOJQJ^J"hth+c5CJOJQJ\^J"hth`v5CJOJQJ\^Jhth+c>*CJOJQJ^Jhth+cCJOJQJ^JhthnCJOJQJ^J"hth!x6CJOJQJ]^Jhth!xCJOJQJ^Jhth`vCJOJQJ^J%[v w q$&&Q'3)U*9+--4///4]57667dgdo*dgd(dgd_%dgddgd]dgdGdgdcdgd PIdgd1 $4%5%n%o%/&8&E&F&J&K&&&''P'Q'Y'k'''2)3)6);)񲣔ufWffGhth>*CJOJQJ^JhthcCJOJQJ^JhthCJOJQJ^Jhthx>*CJOJQJ^Jhth+cCJOJQJ^Jhth_%CJOJQJ^JhthxCJOJQJ^J"hth4:5CJOJQJ\^Jhth1 CJOJQJ^Jhth%bCJOJQJ^Jhth`vCJOJQJ^Jhth4:CJOJQJ^J;)<)>)))))))))@*G*U*_****8+9+B+----&.5.6.<.S.f.вУГr`N``"hth]6CJOJQJ]^J"hthG6CJOJQJ]^Jhth]CJOJQJ^J"hthG5CJOJQJ\^JhthG>*CJOJQJ^JhthGCJOJQJ^JhthcCJOJQJ^Jhth_%CJOJQJ^JhthCJOJQJ^Jhth>*CJOJQJ^Jhthc>*CJOJQJ^Jf.g.h......3/4/////////0$0`0e0f0n0000021O11111222233߲ߠߠߎߎߠ|ߠߠߎߠߠmߠhth(CJOJQJ^J"hth_%6CJOJQJ]^J"hthG5CJOJQJ\^J"hthG6CJOJQJ]^Jhth CJOJQJ^Jhth_%CJOJQJ^Jhth]CJOJQJ^JhthGCJOJQJ^J"hth]6CJOJQJ]^J'3"3d3m3s333/4H4I4K4U4\4g44455]5b5c555555555 676;6ЯЯyj[[hthmCJOJQJ^Jhth(CJOJQJ^J"htho*6CJOJQJ]^J"hth_%5CJOJQJ\^J"hth(6CJOJQJ]^J"hth/_5CJOJQJ\^Jhth_%CJOJQJ^Jhth/_CJOJQJ^JhthGCJOJQJ^J"hth/_6CJOJQJ]^J;6E6~666677777.888::::::D;^;;<<0<1<+=-===óäҒäóÃqbbbbP"hth95CJOJQJ\^JhthCJOJQJ^J"hthv6CJOJQJ]^Jhth~CJOJQJ^J"hthv5CJOJQJ\^Jhth(CJOJQJ^Jhthv>*CJOJQJ^JhthvCJOJQJ^JhthmCJOJQJ^Jhth>*CJOJQJ^JhthCJOJQJ^J788.8/8B8W8w8Tkd$$IflF $x x x t06    44 lapytt d$Ifgdtw8x8888`TTT d$Ifgdtkd$$IflF $x x x t06    44 lapytt88899&9`TTTT d$Ifgdtkd,$$IflF $x x x t06    44 lapytt&9'9+9C9L9`TTT d$Ifgdtkd$$IflF $x x x t06    44 lapyttL9M9Y9f9u9`TTT d$IfgdtkdX$$IflF $x x x t06    44 lapyttu9v9999`TTT d$Ifgdtkd$$IflF $x x x t06    44 lapytt99999`TTT d$Ifgdtkd$$IflF $x x x t06    44 lapytt99::2:`TTT d$Ifgdtkd$$IflF $x x x t06    44 lapytt2:3:4::;;<<=`XPHHHHdgd(dgd~dgdo*kd$$IflF $x x x t06    44 lapytt==UAWCXCC(GH]JK#MEN3O4OVO[OkO d$Ifgdtdgd9dgd8<dgd<~hdgd==>>>>O>P>>>>>V?\???????@!@L@M@@@@AAATAUAAA B;;;;ܾܾܾܾ{ܾl]]hth9CJOJQJ^JhthCJOJQJ^J"hth(6CJOJQJ]^Jhth(CJOJQJ^Jhth9>*CJOJQJ^J"hth95CJOJQJ\^Jhth9CJOJQJ^Jhth~CJOJQJ^J"hth96CJOJQJ]^J"hth5CJOJQJ\^J" BBBB?B@BOBPBBBBBNCUCVCWCXCCCCCDDEE!FFF!G'G(GIIIIII\J]JJ⑲Ăshth'=CJOJQJ^Jhth;rCJOJQJ^J"hth95CJOJQJ\^Jhth9CJOJQJ^J"hth96CJOJQJ]^Jhth(CJOJQJ^Jhth<~hCJOJQJ^Jhth9CJOJQJ^Jhth8<CJOJQJ^J'JJJJJ8KGK|K}KKKK%L&LLLMMNNPN3O4OVOZO[OkOlOOOOOOOOOOP&P)P;;;;;;;͟͏;q;;ahth8<>*CJOJQJ^JhthByCJOJQJ^JhthtCJOJQJ^JhthK>*CJOJQJ^Jhtht>*CJOJQJ^Jhth<~hCJOJQJ^Jhth8<CJOJQJ^JhthKCJOJQJ^J"hthK6CJOJQJ]^J"hth<~h6CJOJQJ]^J&kOlOOOOO3_kd$$Ifl0 $ t644 lapytt d$Ifgdt_kdF$$Ifl0 $ t644 lapyttOOOP)P*P3_kd{$$Ifl0 $ t644 lapytt_kd$$Ifl0 $ t644 lapytt d$Ifgdt)P*P5PIPJPgPsPPPPP QQRS:S*CJOJQJ^Jhth8CJOJQJ^J"hth85CJOJQJ\^J"hthK5CJOJQJ\^JhthByCJOJQJ^Jhth8<CJOJQJ^JhthKCJOJQJ^J4*PhPPPPP Q Q_kd$$Ifl0 $ t644 lapytt d$Ifgdt Q!Q"QRSTUWWXXZZZ{{ d$IfgdtdgdBydgd |dgdo*_kdI$$Ifl0 $ t644 lapytt ZZ)[*[+[V[3_kd $$Ifl0H$ t644 lapytt d$Ifgdt_kd$$Ifl0H$ t644 lapyttV[][^[[[[3_kd$$Ifl0H$ t644 lapytt_kdb$$Ifl0H$ t644 lapytt d$Ifgdt[[[[[[\3\_kd $$Ifl0H$ t644 lapytt d$Ifgdtdgdo*3\4\F\G\H\s\3_kd $$Ifl0H$ t644 lapytt d$Ifgdt_kdm $$Ifl0H$ t644 lapytt4\E\H\r\s\y\{\\\\\\\\] ]']F]G]N]|]]]]]]^^^^L^b^s^t^^^^__óӡqqbhth(CJOJQJ^Jhth;rCJOJQJ^J"hth;r5CJOJQJ\^Jhth<~hCJOJQJ^J"hth |5CJOJQJ\^Jhth |>*CJOJQJ^JhthBy>*CJOJQJ^JhthByCJOJQJ^Jhth8CJOJQJ^Jhth |CJOJQJ^J&s\z\{\\\\3_kdx $$Ifl0H$ t644 lapytt_kd $$Ifl0H$ t644 lapytt d$Ifgdt\\\\\\_kd $$Ifl0H$ t644 lapytt d$Ifgdt\\\'](]N]3_kd $$Ifl0H$ t644 lapytt d$Ifgdt_kd* $$Ifl0H$ t644 lapyttN]]]]]]3_kd5 $$Ifl0H$ t644 lapytt_kd $$Ifl0H$ t644 lapytt d$Ifgdt]]t^^_WbXb(dGdddeee3gghikd&dPgdiQd&dPgdvd&dPgdo*d&dPgdgd&dPgd(dgdBydgdo*______`(`+`/`0`i`k`````LaNaaabbbbnbpbbbbbbbMcgccccccccdddd(dGddddоРhthvCJOJQJ^J"hth;r5CJOJQJ\^JhthgCJOJQJ^Jhth(CJOJQJ^J"hthg6CJOJQJ]^J"hth;r6CJOJQJ]^Jhth'=CJOJQJ^Jhth;rCJOJQJ^J2ddddddfegeeeeeeef&fFfOfcfdfkfgg2g3ghhh hhhiiiiklll"l#lJlMl⠎|mhthiQCJOJQJ^J"hthg6CJOJQJ]^J"hth;r5CJOJQJ\^J"hthg5CJOJQJ\^JhthgCJOJQJ^J"hth;r6CJOJQJ]^JhthvCJOJQJ^Jhth;rCJOJQJ^Jhth(CJOJQJ^J*Mlsltlllmmnn%o&omoqoooooppqqqq*r+rtrvrrrrr!s$s/s0sOtPtttuuuvvvvgxhxnx⑂ₑhth:CJOJQJ^JhthCJOJQJ^J"hth|.:5CJOJQJ\^JhthCJOJQJ^Jhth|.:CJOJQJ^J"hth7a5CJOJQJ\^Jhth(CJOJQJ^Jhth;rCJOJQJ^J.klloqqq0stvnxxQ|}~~~ddd@&[$\$gd'=d&dPgd_d&dPgdcd&dPgd:d&dPgd(d&dPgdo*d&dPgdiQnxxxxxxxy y'y*y.y/yVyybzuzP|Q|s||~~DSރ;;;ͯͯͯt]C]2hth'=6CJOJPJQJ]^JaJnHtH,hth'=CJOJPJQJ^JaJnHtH2hth'=5CJOJPJQJ\^JaJnHtH"hthc6CJOJQJ]^JhthcCJOJQJ^Jhth_CJOJQJ^Jhth(CJOJQJ^JhthvCJOJQJ^J"hth;r5CJOJQJ\^J"hthv5CJOJQJ\^J~ރz(~ $$Ifa$gd4ddd[$\$gdR9ddd@&[$\$gdR9 dd[$\$gdLZgdLZgdLZ (<gdiQ dgd'= ރ߃ !"xz{|efxyz䭒rbrbrULUAULhthLZ0JCJhthLZCJjhthLZCJUhthu>*CJOJQJ^JhthuCJOJQJ^J hthu0JCJOJQJ^J5hthu@xB*CJOJPJQJ^JaJnHphtH>jhthu@xB*CJOJPJQJU^JaJnHphtH,hthu@xCJOJPJQJ^JaJnHtH5jhthu@xCJOJPJQJU^JaJnHtHz'.&(:~'(ʎs񲦔yqmqXBy+jhR9>*B*CJOJQJUaJph(h0hR9>*B*CJOJQJaJphhR9jhR9UhR9CJOJQJaJh0hR9CJOJQJaJ"h0hR95CJ$OJQJ\aJ$hR9CJOJQJ^JhLZCJOJQJ^JhthCJOJQJ^J hthLZ0JCJOJQJ^J%jhthLZCJOJQJU^JhthLZCJOJQJ^Js‘ÑđőƑǑȑʑˑ͑ёґӑՑّڑۑܑZ[ӹӗӏ׏׏n_WWjhR9Uh0hR9CJOJQJaJ"h0hR95CJOJQJ\aJhR95CJOJQJ\aJhR9CJaJ j@[h~ IhR9UmHnHu j#5h~ IhR9UmHnHuhR9mHnHu j h~ IhR9UmHnHuhR9hR9B*CJaJphhR9CJOJQJaJhmrhR95CJOJQJaJÑđƑȑˑΑϑБё $$Ifa$gd4K$ $Ifgd4K$ $$Ifa$gd4$a$gdR9Dkd $$IfK$b t634KBayt4 ёґӑ֑בّؑi````T $$Ifa$gd4 $Ifgd4kd~$IfK$L$Tr@r bBbBd t634Bayt4Tّڑۑܑy[ik\\\\\\\O dd[$\$gdR9ddd[$\$gdR9kdg$$IfTrj{"$4%f&'bBbBd t634Bayt4T [vwY[huvpz56A]9:ƴƴƕ|cƴƕƕSƕDhthR9CJOJQJ^JhmrhR95CJOJQJaJ0jThR9hR9CJOJQJUaJmHnHu0jhR9hR9CJOJQJUaJmHnHuhR9CJOJQJaJ%hiC0hR95>*CJOJQJ\aJ"h0hR95CJOJQJ\aJh0hR9CJOJQJaJ+jhR9>*B*CJOJQJUaJph(h0hR9>*B*CJOJQJaJphuwp{9:<=?@BCEFgd|.:$&d Pb$# a$gdtd dd[$\$gdLZ dd[$\$gdR9ddd[$\$gdR9:;=>@ACDFCIJabdefhiдu`(jhthtOJQJUmHnHuhR9hR9OJQJmHnHuhtjhthtUhthtOJQJhanht0JOJQJhtOJQJjhtOJQJU h0Jjh0JUhhthtCJOJQJaJ *hthtCJOJQJaJh4jh4Ufghij dd[$\$gdLZ !$$d Nb$# gdth]hgd|.: &`#$gd|.:ijhthR9CJOJQJ^J<P1h:ps/ =!"#$% Dp$$If!vh#vx :V l t065x pytt$$If!vh#vx :V l t065x pytt$$If!vh#vx :V l t065x pytt$$If!vh#vx :V l t065x pytt$$If!vh#vx :V l t065x pytt$$If!vh#vx :V l t065x pytt$$If!vh#vx :V l t065x pytt$$If!vh#vx :V l t065x pytt$$If!vh#vx :V l t065x pytte$$If!vh#v#v:V l t655pytte$$If!vh#v#v:V l t655pytte$$If!vh#v#v:V l t655pytte$$If!vh#v#v:V l t655pytte$$If!vh#v#v:V l t655pytte$$If!vh#v#v:V l t655pyttW$$If!vh#v:V l t65pyttW$$If!vh#v:V l t65pyttW$$If!vh#v:V l t65pyttW$$If!vh#v:V l t65pyttW$$If!vh#v:V l t65pyttW$$If!vh#v:V l t65pyttW$$If!vh#v:V l t65pyttW$$If!vh#v:V l t65pyttW$$If!vh#v:V l t65pyttW$$If!vh#v:V l t65pyttW$$If!vh#v:V l t65pyttW$$If!vh#v:V l t65pyttW$$If!vh#v:V l t65pyttW$$If!vh#v:V l t65pyttd$$If!vh#v&%:V K t6,5934KByt4/(Dd!L  A?bigPicture 1Description: http://bigcharts.marketwatch.com/charts/big.chart?symb=cnvr&compidx=aaaaa%3A0&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&size=2&state=8&sid=419594&style=320&time=20&freq=2&nosettings=1&rand=3018&mocktick=1&rand=6651"b% a{e k%8  nc% a{e PNG  IHDRCOy:OPLTE~~~|||{{{zzzyyywwwvvvuuutttsssrrrpppnnnmmmkkkiiihhhfff333f33̙3fff3̙ffՁbKGDH cmPPJCmp0712Hs#hIDATx^]kq"bLD B@18đ@$lpв_HQ٭tW>u3W#e_ݖX`i # 귞\- ̵`h nSͿp?x~oQF-n΄ H=IMZ"l8C . QCx!LS 0g(Օ~.[mtC(~5!@P)E\J0t"x2IS6CK6UW`x:کi=Td d0`xPe6 "=8< yY.m z(6j 6q<^FGw~Ő@ԗhi 95kj|3,#a ɥ`Z@_ڏ`RqHV ˅XenυYj8|uuysF5긦nMl#Q<ಈ)5qRkbwaH3NGaL}2̼ 3)u{^P-Pu.FOeC5hӬZDfUq])d x e=,/*=&zSm:d=4wAi cwCCCud}f/u͠ƴFxHxHxHxZe:G+FƇd|h!xA2_V7iV{Lg+J#*՚lȾ Nsܦ.ڏZb {s2a4Ŧܐy,1CC0XT˘cs{4fS<4 uFV=hL""C[:`sJ*e[/A525C=|%Z\#oĹke:2 !j!᡹*zHLVU+*d|hC8ٍj4X>9MJ^,0 uC<U+9W2e/A% DrGh疗m`˺2JmJo]AE!uGR42?/ >׮ga*l$/C Ly;PH nz$iIz $ 4C]H_>[i@_v˶CJZJ Ptc\evxDwS@HxHxHY`;%sܕ&CWN^&<$yY% RBШ֓p= $ jdZ#@!mdlGU=üN~pnŐC|z}_e2N}vQOA̟|!^U :r`l@,=Y˹ UP/A|EU4ɽj녞,y {ǬTldC$nws<2ΕԅyȰ&xD2oG&*8qpx0jBfDH+r+!ɡ:¹eT͏0+]yb(C6u<ܨ;?"CE(4;@1Cvw;7֥U*ۚη:Fz:mCbP!fxvv*mvPp!!:?+̗ա<4h-yùqJ[v{urَN>c7H;i[̼ڌmfQ4/##90u_aχy%.ż!vzjXَSJ .ϩZl &: !"k8'td݀|@5PofYڗɴ3B<<2$`I ZZP45kƱh}$\)7B.,cݓ A=<ٵ0qfr 54h<7"zHP>x~RXotHy2Tuka22 ܊}.7c`CcFg"АcUq߄VZGr|0./M_a牼lȚqȖB?!Fmxc]6b <ϽG] M w@ei{V!$mCϙ=ܽufX҇t=vjIm-_XvOD3ЂR#=ھ7 xMc9sY;;>5rF&W3)' 1>3Эx46h/u4ꐬ,gEr܍aS40C!sI/!Ҧ-hg e4ѮAPwt%Rq0Yc;@8ocȮZl^fG:h1pa-2z3A91ƺY I7T;氆7ho2sQ& E~r=uᡆawOiH W أ{ [=z7{𦎪E?CoД_@5 mDCA¡y, M^`zK_e"~唦v}#Cvtj& GDz()8d޹=YʹeUd@{IB׾3i ri{1!UH Cszn*ͺ -'5$VYB@S:)#Ev2hl}+d ry->ɸbpYy(PbuJ^9ZtcBeﭼfK^cCR۝)kSF#$d,F:k[\hz@rF >1c 6H3+Fv<ª>::y:aF}@/Z%D$^dxq%5­ٴE~v;w*wy9eӹK<4ChyTnrx 1@ Cosyf].eciJH+9 Ǘj`X? Ǘj`X? Ǘj `Ԥ-?" ]ۇ6Z04Ԝv͋=ғOTv/|pJS Q?k"3Ço)|/wx.y`'?|'-ۏ+YRn>g+ =Tx=?vv뻊 ޾7EYw@^ŋ_}㗟|""!d&;w+jF J 7߸X wov7;;o*\y~`ރ'y=??߿od'3!5 CnzЯ t,0nZnx+N_yooՇD`kwwo޿sd{zxhpcRĐP`4V샿@,{m >Ǔ{[_t16??\z1twm FjSJS==1'>xcJS?y`ᄡz>G|͇zァcR\!D2C#"eX77:?{ot=<5ǟov߹ݿ퟽4bji{T ~/;OZq#woon7OȔSqoy G,0m3.bF 5O}g7 r!! 6rƙYjnH,}( y'ϒ\صZY b [eq^]5CNok28CP8a0/V 2+ Co/\ܕ*zH!#7!^ Ԥ{Y)d_tP Ze++f~^6!!!!v/:36-'x}DMe7/>WC#.&j_s&wqLgLy osÚv1Te6⡪p6N}_g_[& UDzI=$<%xNOGg  Q!,㫻݈&<$ ו?9R텇ݕzԼLЀCA&yY'\^fC[U-`0$z'C6,BHxHx_Hv7Za+J.Ha !}uDԝRƇ|@ Խ@7!R`=u qNCޑU:Y1f=ɻl<7 b,엳hl&!< !!/*uCz@ C{ zh&D6teCOAMЄ %mJyق<Hm!.&vRX2!X܉8=$<#/[tfv =$y8 ҙ衕L:Av|2_jP&pix7c|H2~|05_jtw1C>*j\.vPdZx2N.e'0{L?q%xRni=wEwW:ɍRs1YO]~Hx͏f`F$eYƶxByȄ)ˁo, %_ֳH )Ie.BaP4* S< <(, 0LlN͗Ez TUԌrf^ؐP=:soH6i4ȟQQ5<^<;7oޑO eiА` !zm0Nݞe!Lu &xƍ 9fnG䂪  Q !s~ fLO] CƽV%-ܢIlt<.ҐG lFU#y *~4sƐn6?^q=gґA9f:? -Br2f08xu@-BueN9y@X+CI _4GcHWl߲aWS ė* Hxfuu4t8&&3.eȩsWlE560Yٌ@ͱ_lEw4Fc)Ծ$HV Gl" mdӜv3CQn8pcм4پxpY kJC#e z!Vx'') 7&5/Hĩ ˶|D.t㛞פ̕y-1`k}^izW}+NucC!!&AZ28 BMgj,MD*h-3bz:}{'˳` UONVvz<$c\36y,!$Ʊu\B%vzhg\V~'/P}C!ݿ\D <oGqPJi eUg %xz(R9Y {2AzxAsbn1,K~AH!eF >^u .C\6bQФG~h"qXa޾ zzΟ/ۇS&. {a"iƸ}$.!?ؗIx5CAݙYQl+S5"d(JࡵP0LJCZ؋cc~(v_".JArMҿZS~戴\?f&mxP e[SS(FMyS~(ylq!IJqt x<y T0멑^qڟa exȕ~(PTrA.) .5&?2s/[?]A燜;C#5ΓqtDe*J}|<=*2І뇪zjå0C-ueaCCCܠ.6?d~roRSuuDsZ, ~A7g; ٿ,r<8 <(NV2\ayHM˕FAd\ O=0P`BcԱct4A]Q JAm'ƐKҢC8+ĄaP}~L7R6.7=y{caПmn~=z =DE"!mfM1fo U!=e =FJ,C<0x(-G8|썡:2,AlvPDl4!v1TCCAylVk zTIJ6mCKPdNwuε\o !Fy=T*mV4o\f|O>.+(+1>0A2:,XS;DY#-!ApH!|PLR*9NqxQTf/bzh}YJ<4"2@et4#M}ߠC^8T4=Om3|Љ麟@\f>mQ"e!1seđ"2JC^~CU!Y,!3BLeAȍoBs.CxHؠNŎu T7Nv"\;]BxHc*7߆N#FK{#GrqA7凬r# _=`0.KS\Vc1,Lӿg15Pd'qY 5ee6ޣ1؀Xg 8&MJ衣!ھ߾Aގg<B2cHX3Zɪ!SX6;q{o 󮂁 C sC/ Trd<0ǹra1Mؾsb "#ٺG-uC?ThFi_>C΅DY$ω&24ź1Ѯg5T[ɻԊx514[DB=TC7D`^7QCPbQ%.%o^9 hDfx M@?bވt ZCyqY.)ƣ}g4( jU?+҉+rUA<ꟆT@a ͻ%I\,]m2a6".hn#O=r P `'57W*{CgfE4"esf,!cx:xhq!泠e|aہ̮\tQsO-N33! Kk~mp󹟪Mami$ %_@b?Aڸ~E#&zgxh<FG@$ h4&y(UFI3Su?'Sٸ,Ì쀉CS<n=u:Ҍr8M5Idf>N#!jCV~3B"Ooٯ&NӌtȈBA|B/-w1%O=?a%C*<QSRm#I3ۛ̑E CN!l|1O)vu?UTQ縟k|33ˢ|HC-Cf3 J5m#g382Y\"h0#eP2IW:ߔڇk3;z(;3_u劈87zi<A睧D!JFRKiō=?aHHC :iE e!wnm_)qvψd4ـ C0Q0/DMW~l܈pTS6cEC=]K5]iֹA+E(,H.7CP~t̶Px" Br☰m yjy:>R5f4f}y99 !}B! 5pXnG#wzq=d-,j`9P"І7n̬{ѧ#t AT $5W篘Cp yZF3?Ԯ79ԝw䕕vxuf479ӂ]zm )#eA7KvR#ϳ}Q&/39J}.1h)Bv7CΔqf&uQmԐe $ܺ~жx(3# 3$z()tRha=͍1"Fy)]Sԁ@9n}?@W7#0a&<楴;75\iԌG[64|9de&Ni/SeTd`kW0Aha ѝW_/a\̘\Gkg&lq $/3[޿,͓ah*xH 5/+ ZVr.e Hp[NۗՑc8&/{9ϔvA¢-eor^Ǻ }lz(_6w^ǹO_vxm>}{k{187hVe? P,87h-shWƅb`h--yNg\ZKK9~-WҒ{-C͹SCl u5'_GzP]w|}M1Wty}5<-v| ]o~]>VTЃW߿dwݟݓ׻Sbx˗ w~=?˗_9|W_|r\[ë!5kyInNлh|Uh_|sxke2~0\ wVǗ'y=}0|ɯuOJbCfzЯCڗ}f0՟Zwt)N_}w귿ꏔDz~ }{\=W!JC࡮8|ÿ_`{['{/[o> o~}d1޹0Bc1z{?*Mv~x[g>zJSxu1_Y |~9{}w {?^7xڗ-!=Dٓ9a<~;?t]f/v~kHGЃ?S?|=_~q{ԋapI-ݿ w\2^e^ﮟ0/Oiu\ZG;) ,j`Ղt͡𩁡uai\Eo bMX Ċh͡I轸 wyHkH(/cuaͳ5 ۙ>uA+zկ?pL~cO{~wv2԰eW1;6:!Ctn 1Ph-aKJAD y$3q o;JR208 ?s'@9-̳s6x; 9v6皛Ɛv2ׇZղ/5A-M"qԪ,Йvxm]48bSVY۷gEW?Tρ/lжۿ0A,G#,f>̟5GyCg0Yb"]yO2g%xH]$qh+ʬ9N'P:cd1:4 уF]!Crb*= r~XdF1={Fj}rpx(zwGhgBP .q؝zJ?VCOyaH˲""P1Y_6:mֲPœk:C&ZƐR C򸬠f}9< ~,+4"X+R +!P}`h^@~/XA`(LuIENDB`#Dd!L  A?bigPicture 51Description: http://bigcharts.marketwatch.com/charts/big.chart?symb=cnvr&compidx=aaaaa%3A0&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&size=2&state=8&sid=419594&style=320&time=7&freq=1&nosettings=1&rand=4367&mocktick=1&rand=7399"b 2%,m [ n 2%,mPNG  IHDRCOy:OPLTE~~~|||{{{zzzyyywwwvvvuuutttsssrrrpppnnnmmmkkkiiihhhfff333f33̙3fff3̙ffՁbKGDH cmPPJCmp0712HsIDATx^]đ][ 9.g`?rRHեTIׯ^uj.K,d_.ߕX u [p [O, Z@0jAރuW}_q;нKXݮO1䠇 ɂ`~cڽD3h@neBCJ$U0Asb/P;ZЀb.J5UK,fť:CD1j#axjNЊuo|ᠬ<CVX ;^"ƅ80pUN|䡪LLy懄w996:R$ Y/^ЎP9[x(MCCCePjl||m Mg빶y2}Y)!X)n ^O8(٠!$N˄XgYC1z1֨&<$<ľ|n<衤?衆H`wKEkj3 Tg6|\!Qhp @ߍh%L:%x=\a\6 dGx8d%LpP""@JBoCC@r8F !=JC;^!Y6gySzL6RxxI) :)J˒(RL0wDRx^Qap!bjj~eٕ[:MyAA!g[𐞽` 4Ə92x5{W8Ȩ<4i2tudP=x!!U2 fɥw&vڟ~o~M,{և7rlB]c:.u:\zA 3$\q9F=Pj}5o+e,H!_R bZ”Zr2U$@2!eh" ̹V*.!C(= ! -fe)x$Suf"KdS穅T]t{xaDm+tr;f eW1iK]OO2ɓZEު"қN;My,>*zCC~!܌oC<7@P3"08LDV,y !6)!OI yq!C j*CR=TCz@1$z bfxs5|Jʈeh[!ה}e8dŝ'L."O9{Hz_}vf|B&3\ mH;iEx(S spVNdƜ/D ]/)Yr͑X>$@c(a73R-12[<2WXg %. cjLrit.'!8Cqi;<QT:l,ۛeۚ}YcD뻭EU+ym= E[ 0<66 T A'NY3P6C"A뻭ò|CU_i?=!XH?x(Ō`nC$VQjoᡐSfϮ_Ly(F<7-mX`1$zHG\ɼEP&lfJ:K-L(g6wِCdVܕ4k?u?4Q)v!&ax| wC?žlLQYJ5)'s 8( jZsz.F؆3!jtNPU-"6!ڒds 0a"]eazȦPfdv3Is0~1PщRN%8la4s^DRԌ#<PGkSyheu͖BSb2% %d=Dȼ7|mE;^"FPZge7K ^F+ xpP\&|Cc1R/ʝuHsrR\>y{8A)<4(>=(<+Lx3 0;^"CC㘋6k)w(<3&Ιb?eP=4@1Ѿ,A苌Fױ[U빈5˧ :zYRBA᠔ #|KRP)wD8( (:awUdWWOx39ō25TxXao>>ԗC tTSw;y.YF.ڊtfrzyb i,0OvgV, JO~+w m'l; ғkԤ@ !9wY`hm`jE _â7]p;|1WV/|c_ӻk"',p?Ƿz|v×ݣ/P\>;W0txe1tA_KWS/g<|c͗p݋uO8;><ͫóGGzkzß?=W4RUC֣M 2zZ_ Stݣoճӗwǯ 'sxҽӮ{vPwyxOp i1$<FAa_}ޗ}^;\) /ۃAދš{] 磯:|h1߻^cŀhC8|k{cOz{_z`0w_Y g~so{xዟ^{ l) X!xf2J,֓oC|v?]cUУ?3CAw?Áo^ C%sju>r" pysZ m !y, {'*  Zp[' y+[qȽaA0T!$? 3Ó慭P2߈󠥳U-WC5q'.;u~+1eNzA٘B2][pV=T"Jᡤ3)`Jr8(X2|KRx"I;^"CIX A*HpPE wD8(OCȸ,"%w9c! "*>xAy:aHn;O-}fL2xtRZw3O19ZxNϳl6m:$x Z@NWk KyHyv@`~v`hzh(Fյ9%Ã'Se%t&= TUP`.Cu0ƒ'Cc 36Wi~55x(5%=^Cm#CvP5 DC|C5 6O!VZH sC^@n1ANjCC.#,*Fj,&xbP܉C\2F=ra yD㡼9&)eG.yYmzwh:B'2ڝ |=>J*Sa)(TqV!T~0.jqcx(6\*5';C\M%1+Ǣʚ$n2xc@jndExi94L8p$.赾^, 'y0dwcᇇ}«]pG-fߛݬt'}o~?n 2 C tt0{,PgH\=HLS/|?)~{(P6B#MŠ!x%:^ s17%D}aH}Ȃ1Ei+0*|i L1MW3M>B2ݣy šIO$VUw@E7yfFzƙ@Ҧ }PgnxH5o"SU4$]O$HǻUsQmb#_cy>َ0(s&dQ=kLli5ZA6!kP 86$Y@0Tg7j!y,/ YIENDB`$IfK$L$!vh#v#v2#v+:V  t6,55 99934Byt4T$$If!vh#v##v#v2:V  t6,55 99934Byt4TDdL  A?(CNVR 1Picture 1Description: CNVR 1"b΢be p5 nh΢be PNG  IHDR\IDATx\TWﻛdwnMnPA)*PTzc+lT38 ;f|뾘9Jc/R;v1YT.ʩ7~Ə0$ЌS*RBm ، P)yWI; 1\cERhkrOcmPJ2!\W:omH9+ =+g\U 7~T} %֎)B\3zR C'עs*f_N_ h94z^UkܲK.HQb~n~(zJ 9ߘ"bN>ΙQÝ׸V~jnлWs>]Cmz奃߿תq><̹UTߢMjز\]V.x*ƖMJXrXƮqa) o(T}*Ξzn;ջ7YE]n?P]ysGrN(o_?8}zӅRTN9AVUpVC=q[5T\><Ǎ* AU)r\TU^#[8(~(Z6QusBkC=N}}⼦XcB9{uTݹ)cPFǮP~> jsA*s~o7{($Lj=%s8uy$_nkG4@] wpvW}grV BϿ܃r \7Z-z1!JMBWJYV wcI ǭF+yrN]f-"y]3T{8 ߝ' /}\ sC'\ڡ(;p$mLʦUdF{\*A׹ܿ]9tW8p.{VcQDZ, fASw op1t/I.WYXЙ~칣Y(}tЙ*ZYt( KuGoR+[%'F&}QE:m 3dqqJ "k @]Uqݜp\n̤άSRvCKlaCXyN&pT#W9T[~!߸'X#e%Ԁ~,eekdgq9vegOhU9~.g+w(s57\R~x:;%sEUɅ}[qnC 먼vEB[ rmA1ՁN_g(2hCƁMӘwEyX1y1+װvAX{{7[fcD >QG< {9w[=^e,nʹ[ԫ7>ffڈʩHn9KMA7XrKp亼&<(—(2QZę$~(ncS$QsNtoc=9yW0aD~O~hM{TFw"O@oK'|ȉ&zb<č9ɫR8v(^d0.{0,7o񇏦u%y[~scVnt} TrZsܖM.k^'#/' TY j9_v臅[867O5-N j̏!r? F`_>#Mʳfͫ]/xNBJIbpm~n56 #!8_t&Oq$v4~!–ѧW|n0s31gtiKY$+:_o&t(?vL_<+nqd^x7K֯aAƅ)Skzh_,%qݧt~'?ZѺ ˹q]asi$ _1?Х|X6p]W>f9O.n*52/Ƽ:}'V5"l qCc9xCB_QN, RSxwz #ӷ={d&S̙t q1ޱk)^Ghe=gm5`}ۯK@>ME \]brZ.ȍ*Mcq+]B|urگrݔ'` ?u4̊.|lI2qgڰ6lhѦ+,?D{='~e5S 蝟F8֒U8wmƉJ@qs;HX: ιW_ʴg10㙿N'U|[sU"~7 gH/^@L k6l@ՕF }p'ER#G귁ӇЦlrp=3^+iӍ;z͌Q݁?GV>#e gR~;/<[#q&f2Ov'L%v{1o~[MO//"hh6A|SG@o Sq.RQ_uY"Me.SMJټ!X~ ;2P+홴>Ox+a1=рZLrnƄ Sw]~VNwQ$h]+TIBhJɵ. QPLȵf+ބl>4g?>o$8G}?>M@Sͽ@Ou^@~+ro}G߉, M`[`hǬSಠЗ`;F@?d,8?0MTo6t3"Ż^W[I2dPFcc {gZJѵ|;'32k&۰ X,mH$ı/Z-y8Ii>hp#w])@7sP*|h&i8+M,@OSsA{ql>s-z~)r6fy2'jop,/UVfV+z1[60w{/42ѧ3}QWF@25n~)O%.:pE4KPw/dbJƕl~<+jn]$sygl*@@Zb=t f߭Gq;b=LJ@`EHikafE[>dDuӋNs;VA0Oe ,HZng||X|~(vLzJ5$)J~f2&))(qQ>LyFnKZJrhx>(3|ًg6chjx3pANno"|'foD> D`ٖ? c/!-Am“׃~chHb,[_9ZgA۰#9L?w!k?in]nm;4Yn*+CI?|⥲0pv{}& V~@ܮD,IO>%S>ɒVNTf6inE_UH؀]i;ʋLh*m׳}^[[mDH8td+XJE'p˿ޘ}r!!+f2ş`7}Պɮ䧮em<3~2g0u,o!=k=mߢWe_6]WơG~ӓu å-OGNp,s= }c*dǔz3 [_C,ލ_|c(=~G *?b9|s05AlߍaulfͶ@0.ìs۽3a{8D瞦2wwOu!8Vbqm_1KX5-oڼRp_P0DZc͏fYr6.aS el5F>󺄽~ #&z+eC|~^8;o"K/Yd [4k3lwc=B$ԭx3X\V/%K;QWd̀65[!7Aλr-Mr!SULQrl$%[X`!rv-%̛5eXneŴ;bT M!lv~XXb%.xn(+G2-񜳆z32j\~(9n=jw-w?A(2N/?A[5XM 'ΝS\p GRգxtɡj~O}5Mӹniccyڦu34oGz-GGS6=F*tQ?#Zγbh]&|+O!25]z7ڭG&I3"ui٤lךA[srޕj瓜:tǜH7~SQ)F5J`kIa-bEX(b ^[ YMbʈ?& (ҢM9:t1M=/FwJ_cP5oSdCEll"P1z$Ą$1R&Q_'m_JTЏ?L .[ЛJ*FZ6tb࿾n{`}b`R7IY_rʖ*;2ie #JZzaɘB.e ML jEU]IY`%+m.GC^/č_6RE~~C8ZR;-tEw IAi59!lbMD}f,lQ*e}6exwH]}XDQܴCp>5͵')phj%b1K6UR8iC?j?.2x'i%*#PtMq]T@EJg՘t{&]0qV*:~d-}YͬC,bټfb#3}(N!L#]LGC 8уL[i1k'*a*}'?|yl [,+T?˶bG*ω4Dʽ[˾8h ˏdS@{;uة\ix.FǹVxZ ϐ>QvX%[S& pM]J]Mh-&edŐ%f9^]Y/۩|J4㼄Snԕ^f֬P_m&1'/ FIֿ;†hA]L1ϏGS]9ɦEQG˜@;6^ox*Y ԇ\ H|-?h ['.רjȿNt<1p MO~0HhEϙoJ:bT7y/`OzrVFdٜoye{-wqYT2. &|nQA'nA!6x6yqd5),d0G fr:/[=~nU=OT.]ωe%]Һ L9C<1闡vG <'i#?"b1kI:aҊL9 0c\֝N$'G0leZ D VH},SVeql&\}z`ec{W~kKd o !υ('Z`7{8cp~pBD;y-oOf5ݲXx(V,r&cg}PJ.];%d_ fm?`^ɐ0Fd)9Gdǁ ZĬ̀1_\~d=|"W LښMaաd <'af1+mF|m %q֕X6sgo"2l~ 2zH *9Spq`e8ΟM`Mt!R~O͘FbJ7v%:5w=%3z39 7f0 H<Xo^\\B SIػ3;.xĐ'?Y.ƝnT8_ajPUY$,"fBN`BR,SEO ΣA Vg$힖Jȓ:l%1c~EIWaW`|`tKMRUڬ76AdBe>7}/<ƞ͇PH&=oݬ,qghBǑv/O+2OY4l|Z:|-뎫#K>}I}+đ]l (h*GÌ|AMi H_L tPDTC㦉Ӂ6u}!@I ύTҤ_\Fh4F:9_,]g`J`YoX;Did2Xj Y[+Ns>gVq"zЇeǚ'T"mt>=5w C Pa 1SJ4ɤTdh21Lިh}shia9Y4=PP0&!~ ˜kђ9)LüT{svBn ,&H; cV;x(4;JEɵCKQ$)ƅ g ǧVg䐐j6 I*&zh|Zw'iDdg2375@js <[l*r7Oyt>UX6B%97H+L8;nAݙཎxU ݂sZB1o$mO6Jb"6w߯jV/̻2GҗԪ$BҖb9{.ٟ)N^ҏ}clU,ޫF}tLfAP;ҊZbnoG+0aЦQcƶX[Lg0ސ,/ڠ`0:Ϭ<lOSvpQJbT*MjF"\% ͔;7hƨJ<]?C2]*qݻ)xx[''4g9G1~{9~3cV3 =5~,?p%B{vt$Է.Hn 4ջ TY+TĊ%?ЦW&tiȢLwF =x.Wٳ,]=.z #<p&񽔈]k=v| Ԇe_7WΙ@dbRQYwXԆolYzM9J$?j3'AI)3y[_Z-!V&[>YMsV`F|(mGnHKWbo6n3s>[ JT~CU@<]M{ywu.nm ]5C YUcub%sJxb4&vd͑\.w]twk.ĉXQ7s}X s9lŴmZ07ʛ;j@o1?~6ZwcF\85-~McO&I*k]ͺE[bLFw;̝߇Zua2,bܒYan4_V;0<9myye VgϤ;7Ko>PN_zO]J/`$ݜ9aq.K#6 Esm:Zi:~"2اSH8Džnf=IQbk\?V߶:r-_?|g`K֞r1 \rwfIX<Ƭgn ^9x>fʬPxg1<$&%h'%pH,jvUY%I(3_:VVwLCE V7RU6a^x%m",m&D=1r8=VzIt#< hC+`=Ka{k:h-n ܖ U*kI^d{xZvUZ 5F<F t-0 {<<&{سbO=~kx[Q)+zZ@I{ P-Zw.Լ=+T{ya#MO7N$2~\_j6ʠHz\P7{|Gn9-s</ōS,¤dɄfJν7\J.^l 4a ?Dwa>C6Qb h/oݣ<\Y>qIcf,pܢtmnU-=8݌Fb|ɏ4tUs-:̊hm |1rqёw ,9ԫ}bHFj`k )lV"> Z+{mZ\:s_e!;2Ügٴq,ajE^^is8MU&O2>L '.Y?fg&2ϱ?Gt{?]$7V}{xo#i龎eZ#aTx75/=ƍ`2Z˪ØN8ؚ~L킅fe`}v3c_ϖ`OwX]Jx ֖*/"2y6f3,%t#J ϙE7_畗3DZ$͙I &v+uZ:WDS??2RY=tkU d.X?4N*.L%0.7 Xg,$Afl#B>)9K5V:n%VOY6ӡˏ4!f#Րtw=@wtw-k=DԈk]*d,Qz36Sh$<.g7Qk@—!~l$`A*irOZ@$1: zЕov- Sh$5 i}RLAlۤ]@xԀе OЌ‮85DǍOzQGh܋'2CX2'`d0#ǰpד Fy75Iq ,3mi\@k*yn&ىc9%H@H\&C`uFv 6\}8ɤss_$f6&>%IH18iL Da f(&/WUDƙ3%_?uGabu.o`4f'^T4o[ՀvXe%S#83?-+5ķXڎ!D0 6r\z] qcfXhm4r 7ae #TWb׭:19z%:<ˀp5K/#]BvF&\j2L{c}%0cGE qra)-/|![IߦSUtO?3(:my}M}ق°رyņݺj,M ƅ ӷK-g ;'/cGB9{ ^Jx;LFOVksS0,VڼDB ԣpv7"WyX7'ȭZIK^ HۼҰ(coگ B>9D᯶>Zઈca|2P P=3e҉R9bI/c#2)?J2 .w:N_cJt۪y6!_C¢Lu<^> /Ζ4 5/5jr.lfK|<͕DM^솽; D6m[Гܵyd8b~9^G:k K45 ?uu8,ߤ&QǽqYaҚ5GXОQ]el!$_M'^tUs@0>5\Q'X^vlgV9ڙE<p>i eHA2|F]r` CWf~APg vSKٴ#w+ ǞaC@7QQ̼L~G2)Ѐ2Adg(C5e,J fk]ӱ+[cpxB&?4K(Cd/'=j*#\,q)LNGF`fl# ia,Toczv8ʣmXV]LΥ XRAʚEIs)5'iufnv"@߷Q_cjl$5$d4XeuIx톕8Y,HN2k"pۃqdZL^\˧:󎭙H(ׁl^]@Q/,G `)`E0DF;O%!QxӲnw~d'VO~+a$\ޚpf R \h՜;ł1yv#t6]":}XNǩ6E3aecMJ d?>zw~ Rg9|k~XK-:Au/Sfũtv͢TgZ|OEɖI$Vq3VrjMaG۫Bl*h'6a)ӳyl*F|Sz'=Lbw쟾bVoWozڇ>˓_f4[Ly'dA!acO~^t20}B6drϧ;_j#:=ɓE)U~7g^WZ3Т=~b8'+/ :S<֊Ó㏝m>)~2“Ͻćf2Im:`(D3,cL[iwLh[aL_:'?XM!W9 ^zI[柞\!O='^|m&v:B_og8m|#~XCPn͸,5/Ai("8x}.56ӑ^ 3s"o"s >ZWhH:1 #W,OfJZf(Px&> 7<-̣x̉grVO~]&SO̜&+M^!=|<~MK C ZcRxp&߾/fYf<+.,:= m&&dW>y) M޳Zʎ|eMĬ>ˑo@WDxG+ϼIqK9O|} y&e$iTM]Vxϼ>@Tmϼm씚&e+`Êx5-M>eFYCK#| ?? ;]=Vn>$qĉNog ͺd3:tP#J%4ỵ1"Qh>]<'ȮfeO?kG?OAj93; Pc7X|BϼæB0;̿4g1[kW?g&[RWHa,aikڳN՟חj5߅{k4_P~aCbzpk576iG4Dݯ-4}.izyP/JB#Kd6Q%l*ISI ﱡ%[5Zrhh[JT͇U}za5izǎL\; Hb(юՆR؇1Z8>"jh(S= x`-1,canZCZM8{ܾ|3/qt(` 9GQqNkXiXaΞ:y1׹uQNXQ L ?%䆖gu1Rn]J۟Bx+_NJ<~ik)*j+[QurX꨺}C )cߑ9K~9N=õu&y:sb/Ƕě_tC%mw`d\#<{=AlXT#ԍ wY~5M_( bސxwlSw%Wu4TSYpclt vTPɱ(r-SU)?(Sܑ?%?4䄍eT ߌy?mLy9K:+zJN^Z!`};3Nt2o Nab5 eڼhlP&%Q{ޓ5ݎP5(-?J,kx9J6N6(XnTrH))I*o~z:zf?eY+ߥ/ٗJq=cԀaکR NflRWSVJ$tKCFΘ_ޡ%PQv0&%Z%D΃]0Fz~\"RWSs_+2䬙Kd!oP4<-;X' +nO|: u4ϩtzWOb_1Upn㶓_ƉArRپ=CQΕ!\NA{+gOT$;rA=Jw˩TWgo|Ǐ=2]X}q1fbJ87Y-NԾ2ٞ37Q0k&ve⒵dʅc;3R)SWs]8iI$U,)8čq`E]n nr<ӋC{K̑LAc$mtl`fL7~t' ^唱t!ٜv87;F~i;ܙlL$"޴yG|_ 'n/zLIϡ^pĕcO1ߗM ˹?ٝ0~%W8Υ Crۉܡ5N=FʶM˟`|#GnL?ĵx'oڹ=gʬ@V7tC.o%ֺ$ݘIѪd1ݟJVtɉ?*h$RE}<2vYV r%}2b.WԺtKMu5Dutޭ:78X!e??LY^k=]r{ O^=c)LWep,eLu'-d/>ib^`z"IfI~<~׾#wW:35ngJ0ǩΘuxLwҸ;s(qc燐\1CDZþh --؏`b.$`SU bJֿ VI ~9!g\V2+VL\&t4Ȧnt.Nv'l!??L4?t-tmk{)ٰ{#`uY }if|3v.(qv]s7t]Y$=@ƆSU\='U<~*r";ЛkjM] .9c21;t<[kt8`4+~QL{ɎT]?NA%+΍c3D%ZJ]9r3ZJ]&7t)kЕU*ҸO) JoKGڴSl]:E)~m:RjrTiK83?+O?I8ErՀ~/^đ"/Ÿu`5DﯠFuskߙl+[d9b1Xw·XHC@G Л 5I@G+ܫy q!Qr6w ]{2+(**0g(QDgGC1u&)AIqy⦀)Vęr5{m)K0wwbhkns&ۇQk9t,5 ʗ-6+u])dl9.Q 3;??Pt]0~q? n t7yނ)û1h^+s2^mZB9YGbX1y8drXAS2l3X3{p62b\l #x@gof&P82s^`ᰶX gOT"pNO:tI dx1Cz=ʏ )VVpX*S4׉yW: :`zR#xN`{fPVM7},v\_zU,џCf\z*[%ԭk*R-q1+Z7q۟J- S)MSJ8S9!ܻvXXf\\掉ȯ7(]=2wd.ƃZ*y6\ͅ­Zpqai@iGďvc:vD8WG,G=9r6-gOvv7 ?j׆QJq6,e.qGoJdUbݢaԕXְ,h>pZ=ֳ%W#+t`yq꣎8OLC}#s)Ȋ&t=4]l` Vr`>&UBN{U]'k9/w>n=`W\<@;:+/s sP| 44mۼYkP_MЌ%X-I1FǍGӟ\~(RPܣ$V0R>rh%GhFT `;7rR>W.B\qu ~\!aveZXe~~Ȕ?~T]O?ѫ&͏'Vɱc]=nUvrAI,qcræl_dr%noSˍ˥~hܱx\Kh)PPb5Qn%qe's_]gԇg~׽~9i)=#!E1DoHOAE$aRjvGɦ2G6NhU/]BL@RJꯘ2/`77⊳ؓhhT⭾>FT~T Be4̨LE-J.eqHZH mTI(e4yV;F[%QϘ$$ Ụ t^X*Rbʩx/L}&!tZ^)YSńHbUeI1oO߳c7~( usb'?:gn ߶]ښ1"%'&\K) 'CiIl-e *2f09 BR:Tk>d{ MgP= UVvfD$5L֙a4%E[If~Wm_1"2Qԅo ) 4/oO҂4Z˂5YPmw-1fQO{[;#B Ye#$嚗R I ]F!YHʘQͬ5f܀B̭)&4 yBBksNaLq|}#hٲ ⶑZо5LךZ`>a|>>_|z1[~—bC?jͶǖ_q5뮊/ΏGӮ [Eqĕcjd*̬F6La}M1EȊozs߳-r,WufMƷ[]@Pwǵ N-bEF?fТ'|7UKRlv#,|E$>C4beGeמGs$燮]BEDb2$0,^ޓϾ]vh6#Jo6(mfI?TF$. Ű>˄dkjr1 -8KE5ܕ%̌%>~Y~,^5 X.Ȥl:a7ߎ9۽ٔ2>&do"2J1;>@GփRN/l/E~8lMUI!>s!N)gy:|1i}IYd#ucZ ۸T:Ee_F!Vڹi(&J0&&i# E$;1?3fjIOU bɮL!Cob":[b۷zPDn7F.Be 5 +X=OkMdaLNNmֲ|ӂɯo^f0ZcZ.5 8[Z<[`b7{w bG1mFb˦hgVC9$xe_ya-ES ΢HbSI"Ö%~3&3/v l~c{&,dlpXFޤ)#p.4)zfED(zVNaBoۑ'_gte,Y%ͬv#oeAeEҳ&wa^d֔RpGwJ I|1C06JH9䍓c\_+F 2slwѳS…DŽ~k&l&n"fw^cdu mV˪SE![1TҎyb}c(٬Y^ 7 IG98sgrWflx/l}TNN|hƈ+Ld1&.n"Z'7-3p]3;byld ᪲%@]RٞнeiM>gTB"as0ؗGbH= %[Ɔ5htƒ4ۑ/k3}6/&&v 2/Kl]QCyxE f ;Qzo ԝ-p@>U ^+531x>ɬvmL&o±,խVX%+ ;/C.c9OykXM&Jf㦑tnߕ)\q}^(rBqAaLHRЋ3Fe ->nOІ[Y4Kڧt63߾54(uagN { yt~EvL aYdOAx4o f{T}.I&7=F5z֮XOé@k %Y1cS33+l^kۡ(K dz%܋,Z9a *î`}y#zY}#2  Q(I4d$0=2ìҧ1||dkmDOzm-1"[zM(^-dvM{g֒N^?Fkg7|eŧ4_) #=&j{j6,ۓLr$x,T !MH<6ך'##C~/EWvW- ȫb{f<Ѯ X^ G+GJV-&T杘-#g}[G *miM:Giɿƪf<2>Nkescxfk8anbC7.fZ?~9{YG|b5akMGGup .NN`ch Vܪs[kQ ~^qJ4]a `|@g}I8q!-qy1,("^;0#/tڐʒI{FBNouga4A {?4Z3`і{~>C7߳ea6:-~)Sfn):cڸeBPzyƽ][5JK(f+]2IS%dVH`%lMKK5~S<6}6C?fVv&D Sx':yȒ" f(!F6=2xR0W&QfJeČd{C ]rdzqcN'=O7AşN--/@?plm5.b3XTbtƶX$@01P.1%QVW@Z0^iDtwq@W?臲u& 76O"Rz} S, R']qJp%T Vn( Ubk$ 3ЈY-]Jzg5±@-@qLOXs"[onǚJ?Wm;AXu+cKɭH+h!q"EKOFh2N(1>ҞE$U}Fn #%n<^AZeAt3K[b ;hP&?b$&h < RIBtē%R*( > %6'Uh ob?߅.,+Me|bB]ewdP8?Lq|Iaٴʶme0KI;<68,]K?Z2",L37wDMz>󣤮Kಂg2a=ϴEZ7_@EWF]h,^?xl,1Y &Iؘ*όc\:sb[ڂ1[Ikp@0rmhmҪ,bG𦓯fd܈Wؕ>|^롸nˌt m]E{ bLLC F[&pdsU%g3c5‚ȼ̢լ]gA /d=~^lA+G'| ycp 3Y(H^dن6d4^'vRI/KzKbBnxe>kh{} mGlO+ d/.N{b?m]Il譽7tHԨSE(bRy/4.ثUˑkϜ/ʇF~I xvJ_RuܽBz:tѤ8Č- K5.dtN#5[Z.,bRgѷ4,hL͇GpŜPR /kڤP I`ax3= #F3+qYҰDv4!$?⵲-VHn?hlcۘ`A%WjF}>mltHZrR  xTKyc$錑V~oP. sM!r1JcqD9!*T;l)SB[kzum ayĎu*y(pP*ƭ}+F9j- a/g K/r6U1~(t}*eX֫ TTƓXƖI5 4 ؅dF5F.94ƶC.? 5^+T'"~=D>+C.CJ˖j&-^$iXY*{/+l__~p}KQC~ȡ *j]YHo(mh ˢrw 5res3x<(rDG8cȘq`8:s4=0[Ow*ЏwyЏ؏K+cb P;)v-@.x,nrƟ!ᇒ9!gCpֽ/u WIw#u@#}`tKfڴiupvv6: eرDꌏ7*_e16$ Q9+O0/%\7F;)56%SUcO9Zi NR(Qތ=_ry9ce7~Ə?0&19֘\F e\ِzX?NS*pr!`zTY5sCȘ3Fs?GGDy2'sP. MXƏY?65`LcaQ9uV)3T~7FSr4h%ouU"册y Y??䆛xq=J< rI%ʑПRy)&7~eP{2;9CH9tۗC}-}\^s1lKujd KeزY]V,n7vA] c4n޺\;wLJ5U)eϑr.'s#غYwfSw°tW"{ <ũbv>U|oSUz+OR-˔z~JFkU+7ΩT%!PL=NN)g>_y0r8\^ώgk_v+O}+RE}ën 6`#pNC:[Bd@;b 9sOkG\vZ]IXHF^朮J}]{ ĖЇ2kIk[J.}gssǥP_^~]djXcyf_I{/TʊbQJβT>Fati<3|hJɮĤ`0sMPJ`ږc8Ȋ yg/'VyEj1se\P4`~4y5Nin .re#;.nT. 0_ጟ$Q˼'=h>ri:BڛWxMrʶm'6> ? c؛[B (5o@VShJ'[LM a*@( {WiT82\M4v ks5X|5pOpڑl|SIŁ|<a`\߁]ot9YE}R%lz l1AIMrSX܌MKNNL\!)G*Y8VZgĺF@bKĮt?" +.&c=ePUG|S#ǎw Q9usLtc{+wR<]j޿Ӷr=\/ġU{Vvzj9 'g4ra_>A3658MLGE&~WF@ol߃\9Ǹd޸˹],JzH`1@zc"\FqbyyY\hjs>Ҍ>&ӪnRq4sz"-BY zGv)?EؚlA rދBhhy7Gypd#?.SSUy{{n!^K/dHخWR.2l'$d#aidĤsRgKǹmvUx'ɿ\ÃJ::@ҚpR+88NCO7dSo{v5,\L)PlO*ҥJƲM荹~)~|6%A< tG}0ŏ{ȶ=2! j@"G =džSoR-T_$"fZ,&㊊'J)*,` *鱘َs7s8=;4D]ݐ:|9%"ko kcF`IXXxPxi:|\H 53j9Kӧ8ܶJMSk?QܾΞ( '-ycaiϒxym Idd얳ZN'3+|_?t][ִ+5z[hKZ9}\~ :nm`J+'oJ"#9P}(.}o:Vo"Bc}h ̇3r<-iKttMc F0"]a9L9=^wvnIR+"Su Jo˽zp@93Ȕx֚wc0+"J>V(XVLGŽMʊMٜkNk.س݆!-@?rcQdTJ28|&caLjy5Wųbd_s'RY9a}  xRyrZ۲MӬ#{+~PϏJv`hl6Lt+&j8E5y{:z 9>KYⴁ ɠ#ǥ+7ill2ʝJ-9(CGyuN' + 8oJ&)xxfkur~CffR{ ~[ v[άcZw9!eD4Ĉ%u nֆiPy(=8{o0;Ob0.[G3_4y a`r wIqlycGNS@ӷ@ߩЏ/d/KN95]t)",1+s:%,Zag ]MG- x":5\OHɬTH3u܌铩}0e\W5f*]TXBV-cuH FyJ&ٶ2s5l0_|4X^^GJ/ |1792 XZkK6F9(`V0j*E`;vi =ǡ<)Zz9dCM]uwF֮RUs@̉ ; Gj-o~4Ks!wvl(.ᚋl +bV ۛ^ :n睱 ;Gk99dCf'%gyq7?cҫ;۴b4o6b$YAT>ˑ+ݾ_J}nG8۽CY[4yjq0d }z͉,l1C Τ)nSp0y?f<_#p-LaM1.yw|Ölp taz2ޤ;&t> 2~ĨY͖/Ҳ8/Ȍ~K8* Ӧ@ƘMk^Oe/9BB'zQ#YmJ,O^򦺫 x9+ LV#aJ?xYiyD5 RJvVN/Ȏ!LY3w;ĢY欈>ĕ8CGhPƕzTTrhڰ~p?)̵uzLi;yrꯙǰdB%#\9zEg;Tށq k`gj o7`8rʳް ennm&LwF/}#OS@%>3}wQ=8dCFfdJ+G]1wF%(}1/Cq[C/:˨Ρ(K`υK\^#ICk*:v]?BZZ֑ j2A]5ʴGEœyӾ#µHMM G~6G)xt{>CafQi9Sqz6ktc}A#YD$Ztg~&|9EZn:l~r>ܠ)v&Z±k\8\DF£W[#$ūgڜKg@Z9*pa_BNqM_Ռ^R$ݤ:JwѺtJbܩ_մb4joÏJ* zՀތ*BRh*=04B* R1CW0Cm{Ne40A7[%>.LbNr64֥2ra(f*`eCpnfm' FHAWQ2}m!֯?RUi0$^d$LU"DPQcj2$@T"U6J- v 1%C2brvsg1DRx ;#͘gVv04T-4c1Y} yW1C7~`_;1O>O=_{?wLIJP!:1=%ڇF㟅Pp"SkPSYuIxV9Z͗T &6u۔٫-.F^M%Dos4lg(Ț]V.ep^൰# }>踚 —QC M36>Ld 毴.h32MVy3:Vb^9w/:C2Q=)n_[*_B)amG{I "fVkU4l\#S!?Y0ߠo sɧ>jg6EQuxZGh|<4tr5Κ_޳6$s 04?$ý*}ݐJz~&~TJz,w݋\c),>WJAv<瓚o?l Luai#KYi2B]Mҙ _E𹼦zP\il'ܿ[xRڝ9lwߡeZ@hKO&xZC9V|gu-Oba %oXֺ7020L 0o_ 8M#4 R.89 LT@ޜ&ep⪤!ZQq!%h,TPn?嵈03Y/7+\L$WOP6s SddR^M^8o6"5͒3X3i6'\ͷڍn.#}CmwRIHǂ71pUCpQp]5 Tz0`a!Khi{]t݆w;ki!DBYa?MۙdϤ]"Xhf< Gw6[ DitQp55El&%qJjɹiWƝ< k5D"g|QPWs+2, BPG^rdkڟNg\ ^"N^1y7z eR$9T(v?2`5&G3vyȽ#f`a` eT;Y/>Sx?̊ r1#H Q^{z] DcתVי%\$n &J%]2I$kthJ?jb@R 5( * zR%ɩRɾ7 PHD J '6 ̽4~nݝ@rDEUAI~^Wfz={%Yf6̕zG0ˉw zB2lhQD/&y~i-kà2nh}GL>;0.4 UZ6uG|^y7~}J,;Csͧ72s LzP&8a[ ̒mk8bE{wLZ.|{ FRxWcW ~ ek=cN`M#KĖ`郻xn&66>pٙXRJ&H$4X?Tm1ᇡA7KV_I&]v ^ʢy)eyMԵ̵_}7GXy(>wgQPCzA6bV-( :c0Û?,5mwupU7C ЛXMaЀ#^8yRZltsI$WOnteN'>tr[OM= xFwXjt:#ҋ3mE }`.-{436)Gn%Ui."E2oBVt9qdopkbl0 wCsnV=^&2G2*3?xYv+ I;7Y?hL6[#un]m wR3Ěq8겣K%_ޡik޵h۾E-aD0t%*{ ӛe2$F\抗&4s++$̐ 'E"#%G Χ}q(# KQD8?|+; g}X#-fIE0ar)™{)Hhƫ|wiloDfC-7`CXF[0~^~d3UY7 Уow&ld y趺2 ZfSv`*]od]¨"XuEDY0~B6k;?ɪ>ddՑ:%wS [HtOlnя]t[ J$50N[7_-~dVY@f2IwN2*9G6b)] 6nyD`Jg|O<tU vfv܌d>#k?F. AY3Cc"9/rIsIeX>il !lvLZVVDJ/UTfUz?*5UB,)B<@姌&( (k"th_65t~ X#@qK֓ujϾؖR\Ilw ZҤ1al䇨 |g0e6_,f4ιK(,XNmEel=0`Fðtg4ED&9MuOAps#V3}`/L HWm*;: V֋@CYڟ#.N8ź`26%ukz,̋tۉO`^Z|3|N]dIa͜wê;uk6?_|w,`ڙإc鼡;!-`x̡XBO3z̴9WS>|\D@k &;ގ3)bxRPC[cL|֍g J'n>l6[2~lVe8cm1[q"Y4i+&\; yܷµd KƱEFxts֜MfS8}3ǣfa+B@,PJe%_#.Rkj` #.|EDul!^O\lL2@:X5IVS9 \DDIkO4b:'IUDѭDvYL !|F) l&u3&2MP]wxz7^#܋aXRzek:8:M8T:u$3V"Q)h*L賩4RZJ=cR~CCe"-EQM^@/v.T}iІpQKiݹ!eisπ)rl9sc*^3_ +GN'J́0GCU!菳ԫ깢=ĩ_u*xN{xFeOޕ{ }QBOC"c9僱1c*?P0x ~ⁱgu٧'ARٞ+uU{^ő޾v:Ìwf㱽3`0 "$2DHP.(PQesFdcZ:T_d0w:uNU-T8r҃g<oܹkg$89hBIb"+Ggf>ϜR\y=ҹC1"h(Wb ubN 'ƸbMoܹ~:>P 򻂩\"|qc>ĵΊYrNF_'+#ż=.3UD.WЕp3pbwMnX؇O mZ<O󟶟R,-[rb}\|1p=S`x~ѣR顲liId0u2MAJ+\T|=/V=0 !\($4n1a+4i!9A+4FYⵓ{1سRxNѣC!NR,T.()NA Ҥ*1R<4֦kVQ!ECVǢ:i2)VG|Ua4!ZOBo1%V֫'+'5G>zLBozvZn)WqMp>=>٨ZOc5n탖Vǹh'?֤W߈sLDejJҰ; Z=>Yz?ᩡ gS铁+QEUOKGvހڊmjZ G=} s>Siqɧ/GvqBzG6X{oxz Koe`x)0Op!#c G*\ ]rIp\mzX'kNh KeX=Ӄ|n +OAӺ٥zWJ8 kQ&E g#؄Ĺ8XMi@媠*=qc,mۨ(DEA+"x~ŧvr"~9ʃZ֍vzTL5T5KZ\{V~ gmeo9\ l Ǽ5NaXfF-]2#zA<'&#2 _ccYWr\ZM1v1+BԙB<6eOQYFӶ# ŚK\**RF]OT/$%N.OK(O ;P|.jk. ;0|"mvZ pGh8l *[ɽHزFn jGXZ A{oh >v@K,|u^Bpt,N?gUa8|H?`.OÒXh\RA `$P0\1eH,765V/L B8vl{U[TvBr󏑽}FRQK]q5᭣)ZP贫4u~NjSiw*dd >&T?|&0dGjُIJNE$˖vѾF0N@G;&7Qf) w#{;1IX~f0X9Y;[[0˿`r$Z7Lp$%#]GyNX391X /i3DR>[\7 '^D!ICmsQ{6 \}Şö8w g&fhéM^!ˋ;뽯AX>ɷ\,_F\t9)!0:큷.,W|6v lC=]S"}X+2;gM,5owb})Z{zǟlE HoMS(~60E=@AFV0c;#R-ZeRfCi8SHTBw k_0{o&7upN@7@ o@vG`i}iO"dBܙ9w.޾τ wÕ9vQI:bC +ImT(PrLrD!ZwP.Q'gE*~_B̧:<>8l'b ÿӌQ^YTWv` \m7 ˙%wTNͥJPb)PHSl q1#{WEPg܃'p<f2T>G`?!Ӱ{zVS&lèշOjf^L?{L2FSX Yy-4ܣqCzy {,t >gq) f:rB%C,}9ıG-#^i˯_8UXN? m6[-qV6=INi'5iY,顱Yï@T*Om{|?J zk-޼\M^7G26#y=. t@ˬ$R'CecOSTVNl&.͓yޑBf%Cmdi2/?ßB*1/%;]Ty {GX+Z1ֺK3ӄ[:巻+1W xɺF4%}\Lj3[Z^]]}jb ƿ=rG\ qMw: `@ w "NDlmTzk#&XsF)$1WQ!nic1h$#BoM` [5.e9c0 ;/:lv8 y~6 nfU5*\\ztEN37|I%/#N^DF."Dp tFNÌ⋸yk]0)zX?-psLz{,0G$@gݎ X@o Ե woM{ڈv:C'q0U@'jL:z6D!tΠ!,EµmADI>6&JZg2nB)=NէN]o0)ރbT2a~-x@ir°+矡B[̗ņ778sp+GHK KC ! 7 ˠ9u>3#|1iw&*Of;_MRk8hز|(`W|1<'|;߯_M4#cZڿLh>c|JDն(Fym)?&e>FN,);\7bw/ kk=.YDJ"}Ax6]Fu{+k#:v=>'?bww&D[ ~Q8~< n>x?eDbST~O=zv6ƒ:ağ,>ƨD98i-hk}>»7~X^)v<: I, _Fav&Ǝ/`О%zϢ}0tmAZ_w ^'>nc ny Cz6sfiU2;YMZ)q8)Z dM덵/0 qn9/3I?f>7L{Z!Yf!\zPו,چR{p?Б \} I#0%yR%!AKeeo =T\= XbMMAMm֊z M~CWƦ&46֣uu%lFuZm%jNg5SSjGkS]W740t CF4Vwcvs7}jB3*quihY9I9'6t(:mkiPcڹћ.׍xzKN=!uM.lDO:<=@v}õghn>а3x\դ]"B]?M[UBڬrz(9bnoVn0nhoO|e5Aka.^ eE ;#ĝKJ%Aڤ>zп؈&Gߢ)5&{󽹆XzeI'1w7xwɹPHh5H9u;bNR2o`b٪߲<6=h:/3rz<{;~IɷCJ9u]b0 ׍ ]9Ztߐ|B7WYpGBmWgo!T^.hj!+=A;61 /CZ؅P@PESPcDSNk>oܹX{ Cp̃r̊VH hpӣ].uKQЛQ.w1er}Ϸҳ Q7S"]S&'̮?SWTJM=u3B&h<n=e/pBI G_p=h?\cO'\á*曯|J)u( !*рOp*<}xz](Ġr|~4%%*[=yFA`s %Br\/W OM>D1)iA/Q`*DIKUњ+PLuAaM)#`+wGas1D.U7n.Y E(n;. /P-xTN.kCZ}ң+*$wYȻyneh[B{>R_) kS㏐s n&5 j/sQ|^A[=-IGi_NFnˋ{ϒqT@.%#nҟᣤ6%T>"BNǣ_U9 Ymf1oGdcIBDi+f<.JQT<2uephGLrxT\GΗ4'Coؾ;|?`v 1څGqBF9 h1*K[ n AEHggdjra8lwL翌ǺH*!$^4+<_'DPє#;T{ ;K񼳮1 EM[-QZ֋;pZTV:-D}ؠ%>|>iT?|1 s!Y~u à?bnl4ߊ,E?k f͔Kebʟp?EИp;qW%C.b XCbLI/ y"윦c吁Յ(3RRby8 vZGgqX폤e *@g~o':_XŴ`{7Ez@ C(F MC^z( tUoa]ak6*3~LX%wʄE\ V̙Ev0efUu1c@,VXf>pm8bczb̃Y^<]Xl_#NҖrKH3뉰:EuL >rRM |8ۘGW`­8]X2~JDSH(dy][4K'o P r/xras-z&)8BZ*9) dV S 74q0UVm6 xP]eP;#9 x"rpKws><§ Ŋt.1ӱ" OQQ~`UC< W\KǼrlړ( tb'UCkvLFX·J0apᷲPDpp=.Dak92/>r>5 uE(EBTQpȌF^{)/i_c \x/nIAq?*I"tnO_MG}0#r .1nPNK=D`'0A!JɤM>F괇c;Bn6q=w4vYtVĢ=S/7PaDpqD0#0D#bRjKQ >Z~?} ʁ夎#k1y$$ N8|RHG}u7L6bE" <|+;k~Ê(!%eIޏTbq=vOz'KX80 : ÁXdWc|xU":!wX=9\ ~& `_Bg-3"$B"3@>aBeϕ,rDqY7d~,_ `Xr"_\aBczmr:;(JU,9g^ЙS>^3Es~ *zd׃?_KlE okF8u tuXs+XCj6Z7XM4_{`l 0Zs2y:"z l]aDho[܊NY5CgLaNB``-}^Or)/*u)zXd-' yD01 ӵbɰd\;CIdi4K{^> &E!k@dns2<9£-V,)Gccar*w]Jg"-ua莘Xo&mBP@߼fd6L 8x0Fnu0rdsġ\s,e4fu`S;rBlvAsv@}7?d+1np#}ew"uBI@47X*C>,6c"ŏ2q@~|907r;FCH-Qe0 'c5H fz`(hǧo:Cl3_*g)\|A_wz( tzGRr ]A t09hB6V1H(Ct$LqP psC}6-^1(PBC\5tfORoDt%eX`&ֆyn wzk3? CAs);nq/g 6,؆Hbf]>+Zb >=Ayj l+aS"B(B^dUƸЌJ][60îl/c|@giglݽ+LW`[j4r1 6yogrz̻K_ð0ΏC>]0<ھ"4 V^e V/0DzXfӃ~TBqH9 ##y,4?X3br3{?Ñ&VzÉ !KnHخYl6W[" aJ؂mɱ/l+D晽Й9z˱Xц\q>k0rB0ϵ|AqF1kv]lr݇l:`Fh7 t҂]<+:߼&"r<;hu/#5VlLQc-ax {Xh08aF3\//$7c߾ #9 .CP8|`,HAX2@ܳ ?g,]7c tSCl4c;$}7(y;Wp7y9eDvPlFD9[ļ֋@vTa*3Ic|;qd Sf]3c9rZLId(8rV pVjC{\̵ۇO:;wn!$żOٱ :6`<4[jO}W,A7yM!~>GK65Nq f;nP>Lܽ"=p)9r-?dly% Q{>H.E5gV#. \H/f0Afs"c9<<YH<ț/XkR̽L`nK=0+h,Y` ~wP^,#8NnWBxIcbs:ag{z}:9t\3ދ[*%'tQޗ:PN._crV0낈p4$8`˺"Gom0IBB>闋 ,:3ȹ]9#Vʼ|N~]<2zw"&<2aׂ`'3fR疴DfQ%x:Ŏmj osr6$c]' ' ,$+L-ixFPi{y"rD6Q Tv -b){`e:S V(="eMu8{uT s9zjQ*gptG"Ħtk܌xleLYa!V%`e)0oFL!d1XwBZT1-6;- =hh &̅ Ov|K^y5ˬ6(/WڝLpW.b)= ؎}bL7I Nϡ:nrSPBx\B n ʤ>$g,AA"e(ͺgPn)4n^ZKfw73P(@0=ha~`@BoT$ nˈ{\+(UDvZ(g| S.B]G~5mx o}{|1Ѷu"P_P@MFW|p𕕂5 DG:b㉧g3KR'$$IfJg!8{c⢉oid&_>3\r;vMRa_e҃  8z5L b'(}?_r֓C"d={999oy~ ;C* =DFuC`50 2CCfFMP-h#ca||^N.E9'|BkS}o@~=Q*҃~4J<ߜRHkT 1A#`G=ԡ.1qK!%EHn6mo1nu*`Sh!&h0zHJŔWI)YJbuJab:ֺ̛Qhp!Uѣ=RWs~,?*J.ZU4^ Z+6Hi2GI2i*1ZKb҃~ zЌgyB녑ba1aimG_ G=ԥ[4ȒԤ,i-,u4pu\/Kbi4RIwo0*zк{ӕ* poCCE=ћxK[ z!8&`Ֆ\RcZx:U 5@! 7кiƙ1$ {_6VHzX)-LZxiiLaG=~ zX]T*D:u1)!%{kΤm[ c))]UЛ- 1$}-KYc`IENDB`Dd=J  A?(CNVR 2Picture 2Description: CNVR 2"bXLiLeۗT nӗXLiLePNG  IHDRr~zIDATxtU {;ϑv;mݡFo={A  J $H$D{[{'Ȗv9qf ԚU5kUktd2HyN~CUb{q{ޣގ(_~zݧoUu[TѬ鷪~b'6m_5ѬԵXPצb꣩4 ԍ;1Q ObyA,gRƆq*vI@ԖX*O{'RqJl¤ மL PG)9b$0&઀P/M1m5 )?(bR{N,uu$ĎumhQvRe& R6 -jG yOlm-9)[%U.e Je^&aSn`b$ O[k^+ -zYDRCOϔT VR]M} ANb-F۟R;1X) )L751L`VЦҥr=F*5x ~M*vALIIMJU퐉pի ]B[Xl્HLb'MDJhG!&5!jkP]޺G\xRUC1Vo9e4%&B 8&gC3TJ<]dHEk8uU?L~&m'&5h434qivnZKZzwVlMqp\:iuTFH-MtaXz.mnL}nl.qI/˰d&%u(QE3S /K]4͍f!_r+x/Nl@>"V^scqv+2`*41w5H}&q & Z[-[#8M@iTP~mzB뱐iOڇXn&JU.x6}S6oRƭ6}!6Z!]߾LP..X;pl~g6o̷N[j?& 'oq&-_ƅf=ܿƑgggBmX~0Œwp:zGs>:ZeH'F-{977/&;gY9q"}gVVڏx3u>gmeܷI)9}hnBXLn O#ϲy򴐚Wt)*}[XvR*cGo1SjܲNöw`_)O"̰QNy}ltF|۾XbLcaҥ 6og m1v,YO;2rYwce,r]CC& vxʟ|< TCt fLί8\/5!m/cǮ+ˬ-L"xiAq0vۻڃ#ƒffII h &hi#,XYa1|m@Ju+~)"Eԗ=񑢐 gIu_$NBS`mSk(- rrvLf,;us+܈?)g ܼFM܉߃Jp:0,q1ʬj#3˚cd$NV6{3#F'(8gɌ)mM([@1kV\⛯qF>`%)xn6pޖ^6 pι]RgܹwZc|<&o>Oiji&ͼLz'a[^~Eʣv0'[ळgKZ+m3d~gC[:0ks$|ݙc~ЅU2X?,..e*;2() c/|QW]D"3}5<-.%h>ԧa|$I0!ѽHMIRsv{3F/6M@:լIbU1Z ؤR) 3ߵ3YbTېQOfs螀6Ƌy`^XXO}F7ڜy/3tv|L}y C0+sjSQ%_0vumw0|Zf[p(X7rx_ e-*0s eTϑ?e}`J^be+,-% KGcfOg|='FY-s9ݏg`*GAn)y)?_{^-/0x9Xo*&֩c_Z#p/]v̛Os#Ûգa0|/`~9Atgqw!<ǽoot]B"do盋Ap:=3?>r.zJ{l<#W1y.]}Ƥfrc^m;̳]`_^gy ΜםˌoeP6 # e)Vn'sfߙӚs+/[v;k2zn7Gs8w̗U^fՌ1>dkROwi0cL;HVjb3^[ooܯbEf>ga;Z;[}73 #2F# KgJ֎.PG$iG欥>:c>D\̹*Ys;svL#qm+#by8EU$Zo߁l0 vY/,:<nngʆoz`}nsNわ'gaJsbt^JM2W+G%*,69F" 5AJӓ)RrazՆO w)ޜn-D9;=Ng'S{='(A%K 5Np0y\?UXur >U " X2 8u}]Q~]xȦEBUSG^^z_].؜k~ڟ's4h-{<BBٔ uMVsQG0uR_gOfˆUlAmtcH4\ *:lLzIP:[[N۱5ǎqdzp3.ĻfǦUl8ia^nuS^w}=n}__ q8@Íڰ3)T UeDbbHBc.Vd?ݨ'myZޖ|Uw\.C^=[\v -'/T33k'Yn>}Gb쐑Add俏>}_yJk=I0v̩ EoM{]"㻧ψ ;H)'ިϫrjJmW9R\bv{J4fK]oU-hRLYtxIbzMz#c'$#U%'hS1ICbW;`zcj){,#v~)zR=I"vm\*vw zm"?mgziRͶl#%SY'RBi\Ou mhf1RRC -4)CjfDC)' vmjKY{Zf= Tʿ{b͒R9%n#%^Uݴܨ7ƩX%M2Q͎/?Ud%ng]qŃ22ns@PCzAdWxy-O|ptC8Őp͂'r}Inu=J5KhTd݊#4w,n mfjӋӂqufPZ=C+ !ZB] ctX&b,-mk-uV6l,'@/#nQPancB| U'vՍsM<͏ϵYK5 I~nʩUȾE@KDMǮU&<{ƭ IڙM:?-Ԕ=$L50m')ƖA c~ L[2Y7\NRvlq)RftW |JWUA:>B_PR@K# &OwzHCSY*b2҃}qh {X8W[MB@O@v$me,u{^'^MTbMS)?"3yP/GJ0gK}tI+$#~+6]g'k" zҦbB74ja4S!dՙ'˯JGViij # =j))Xe o&.Ga,HCت}?kpq< ecMZy?CX< op YGX3 bImAGgoc"WAY/_l "NtL^Gݸ~!֎^^Q9Xd*S.5R:O'^SHQjI >-|w^g~-󠼖u8x0Ltzks%²ZرS< .]RӸk; :]VݓsyhbOr$5-unjuMuһn a4֛Gs;<p)KVl|4 l_2[ՒRrr"M'A՛8~uFFs,IVPMM>x@^n2Lc~A.rw]&1 ̫>$gՠ )LjJlخ*#C䧝ߋЖ5v(ܐPܸAVz|T{&RϵR<qn)K]! 悵yx>i"`.ѵ잺pOfSb܈ b^`*nc?tf3hE#> 9k4cDQ$ Os2ه\bϜdVS:: ߼ C~ U8_ ?4$3ٿS1zza\eԨUٻ+s:DŽgBqڸ/Yŵoc}8}=31 @D›߭%03{ok5..S<m ҹz}L|88Z]υg1\y̻jUģ̂6_m|w?cҲcoJ#?VOtL+!]!Xnfĭ\fO:'$>Ì[Lj(|xkFmw!8ts{;]76Z)$ZOC1"<[t>`,isN8?:/3"q9#)2n5Eݳd_`_Z0?f)E%%-?aXLoM%^œ+x/^AzQ;M[/zڠHZkr5&'9xĐYزhc6[r'͓?`pn }ˈIz˳rrpH%ZMF#ђ&{~eE,Q~R'%Swasa ?y?]MY7v*͢㽋o؎8>! ?HE~0ñ>l8^hg?n-8/bw1^X")el8~ئN #1{5sasN4Xr[T1q1b6 ¦ Ĺ_R7afnaޓ%wuj fr0})(f_HxQV>e ~n뻘Sq\gvszT~z;\Y8zU h;7~>G2Z8:2c9H87|%۶a+OCG~;zdf#x`^6p:o')\LWg؃Dxς,u7aSŰ{q!Q/{gX4ǯCr#t` M{uJpz{gBjZgGPhg{V -#燯8B* O0f|7s&lY <;b6KeH?TĔ0`_d/SF05,7laB[)V2(bJ[\BVKt/?Hl l/aXc5jqWj╔اʸg=K`$}1_,9.ʚZ Mgȁ/Lta$xtcs,{^GvZn:E|/?q.I|H'#%VE[f)E2[\&BEF;ӳg;(1%Ϩ&;_US-ʜ`Dȍf {^~۹4ŜjإzI&[O;hKlžzԡe*| d n2c>{L^KLڎnv[[f{f ²hC&ύA6ĤW4rlwc -9=ZQٽT>>2$AdG%|:q"cw`x䗷cE0u$[!jv"vcΟz{Twm fLSKUMsz Rz#AZJ,e ul)&Jrm֝ЦnjO3{hKYAJb05mS$a\6:S.Tb;=r2`#ԋ^Qqh{imjJ]F2RbMvR6] {McN{[.em뺗Ta-uZ1x)dQ&N&i7~i0Iڔ2d>}K״8 fkkXY:;*QގnѣG?;;Ǐicci˷|ʛ8HLLTTǿ#''GU¤d۶cݽ{_N9m NKKkqϳge+?~~~m#{B !ʒ{ ĺc$6(6V$M}_;^m]LqOVISGbr h' RR]Ԥ-%IMybBR\=qK]U^lГzy=ٜZO|=M-썍CzCaXJOV6€et0Iᕞwc5\r{W|U7SOy!BI(j-g\[A~/ڽUɳRRNvٓdfgD];g1N,}?6>%çZ_ݺC}Mb*|ɐ#TԷnkoq.϶4Q[WGS47֑i?*2d%o:MJsU^vqObn_ӟ7o# cn(ʐCR(Zz^&/f&]nʄ+é CBTe'k(IdXƯ,9BF]˲edFg_dEba YK -Fc9|) .~+8IV[(J -Rr|>z1NLmnQOǾ 4 6Յ~bA۷ #o΀{ ~TGH^i~8QMJi/~b}S>VFui:OcO`ּR]Ѽ+?OZZ6S֙y[hYyV[K?D}jZZh~۞; _zzfSL6ii$3ʊeCoŴC<.oj3TOi،jA؉ 'ȗeDwebڤ aw{#YXbFvY궪i|$,:-@R. 5ן>wEt,;=?}'/>Մ{z>}O>u){|n3%78r8w+D{^.ܱ6hQx8]/W< <⭛,|Φu<'**`hBRN-- yisDfV*" gg8 yKS%702C]C}o uyT/J`c|, LJډv..f[˜4Zv<쬴<ɤey{yPs`*xh.߱kKS\9Q[\'8QhY\6 k7[A[V Lx(v?^ _oVW|PJ}K~h'jކ Q38:Y//?EaćycoNJJ"Ow! !yAA oFFy=Yl?C(Fi]ػӮeY\rḛ%X=N`,%>+Xa#snhkYˬeQ1Nwv}v Z|O`{+姸Y۠_"5 Ʌ2P !r 1G|^˳#,7rPvcU1.s** vLG<ڶ@ t exz[(ul6<sƈ89am>zHPbR}oN68ʞis9{#E=_8&$cs~qV֧?[/]!FW~ZJnudX&S2&3̀`эlټ%k6㞘ծ 9S^w(k㩆l uPK.O] q҅9ƶ8}$r0?Yp#/,:`s0V>u9GCK+Es<)͊i ?87b2&i喹wB qM̧禾"\rn ̻/1yd 2ˊvt%Ʃ{CXklO7)}bmIզ?1cvEYv cY%%a?!5SE;lK^^#ى6j\a#|##WJ 2=3B(*榝.k%i={v\ːor,m#x.bt4 Es_ >l>bdM?Ϛ1u* <{)c%>i&N ԅA-~g̳z,Y)tOM)wf8$'xBq1]ߛwΊu# wp(gbD>~̍Z\mnPFoe =}exqG0o߽Y26pDڤ{+^ק ikְhdm`,-bE81"v (1v7EONeC'7k+w~dX݉54":ΊOfGNgXï*C2_U{?Ʃp1WkB?WTH/!kwޠ3cx|=fq#Y\Zk}`.>ڂ#qV+)ESxNV왵gfOpa;2Az.nym89{/O)o| p<:˼Ao1生`wΛ 7gw2+RPMx~gv$NbU>}aޏ9:M9S絊X|j7^U縑SۦMVtx8o|ҟUƑ܏_BnZ0k$4Ӓ1xʪDt)B'ѤB)tJ huDili)'pMϦXgF~E} "۬xŻ(q›O3YKSf i+)l|BmOEuhBbB $H_O\˼a߱!Gi0{K@ss?6qg1V,b My]ZŪ1o/'NYxo,ۯߦ^:e5}U15> ǟnmӽ8c c /ӞSW{Ɵt|JL1"Y;E{D~y=OS8sՅMc7wrnVPWuu3{7~w`B} |)}3=1ȷMp`|uB3 ms~}\v^-9y,1Oj #9Tqt'#TXEw=q[bϔa?P0nqqVseڮ"M0Ki ˼VV6Ƈ.Wm6mVRӤdykUGjn(.R]=Y㹦x<\+ bg) }E77Vr7#+:]@m?4Uwۈ d2zM(힞{ĆksӄjI ERJT6-Hq牱r.(ƫS7W2Ʋ@?d~S8*7\E)%88vO^VX,DmJ̘QlY2θVZn) : hg($D*-֦n$gҬ*å,ȥZm>n>T:E*FxM$؈tذD!??сu1 _պbG3H R*K-SrO v\JFO4~¯'ViOx8zrGLTjC{"Ԉ=QZYzs5v0Jssre(25Wi|wu҃{+ʑR9=O)4?Y/eoLؑIiȴڶ4^q?K}LCX±?lY/L \I(W&BYJEeT&ʒMδ=$KRɒ?'~M=j|GҤnuRBS{+KTRGM{u[D'RW|jR=U-hU,Ie*\/6JP:&սShtMϨQT_/ڟb%YJM*L.$rK*o+2ir],*Ů׵K/9?=m'NvNQ9HH0:p]igȴFUNQ;T *H&]2D 5`(EAS55U7e"+ ؉6YAݚ"%WT*=aU5PDq!Vu|&S.LUMGQiWʏ2icR(3=fd|8V6^5%`4ɒŷKiR5]y@LxM>v ouf/z~m[1,1+~a2 };+ڧ{1]N\ͧ8c{̚UtGu& tۘ۱-KV?xYp",w֫mU%#oiU^(֌LSeuPh izny/OQBoI_Q|[Ovxʽ8s|b ߫SǗrb1;[ˉa @a,yòD!Y)R>b/h)b5xYA/TKV}dDxa;Z$nBW->m,!&U{V+te/YW;QJܯƏeu,{,8oE"av棁g[ ^{Q|l|j+Y>J57@V[T"d]o[_YľD\ƲS3|r0΅nZ$K[BlؤWާ d=PbTX!,!| n;ٙ>ۅA"L׺x9;>cC[nLYp߱8eONfM` Im9cKv6cxwpOl2?DMֵTQ|).XDdz|ԅdI7nX/{ej؊\nX P'XJ~]֗nV Ë|Xt#䙧6h 5U^g+cag.X$N|mgd(UTf7L`T檕%+bϚh7L]L’uDW@'B79$CɕrO ;7o|v߭ע2.pK0QvSA;}?Υ Ƒ( җ{p_3,tj{c9`yS{""B`-) ]ĺLD$ʌ2_£.QmЅ%[]͡%UJ*J Il>FWWjVbЩTL(U3W棶vͰ38eƑ39z }8;orm1 Xs~~?u z{0Gbb燡rJhs0Hr0e -ghO|w2gP~8\ [Cc)f^}܊8k0asF0lO?x"}2daN14cq:ɗzG\ fʒ1 -oMZc.H6]i:?}+2'xSg ay t+^_pLPjc،4/CK3y׃2Og u^f}~Yoc1i h|>W6(!ޥVcUMBA`֔#Soaj\첈 3ڗ$b#E[F˻Yɂ؄ k2sYq=K5`/c0ub꥘,/z/6b4^eN؄%h (;B12I]$ib:IZ_mXIqAB}ַE/KLu߯u5 pr0?ks,`&q}s c߽bj06X֫"0:I /׫_yg`>|o޻{[<˹n ^9g6pxy!\߱fc[^CPQOMٹ%D[t vލ|Z\ʚ7/L*`nGz s~ρ(CX.qhZ`;'Ρtm3z.Nav<=D<ʶe1hj.:qXPT~?h@puïqxaobJM?8gժ \,z**]*]$'($EXQA$1EM*6&Rk-U6g6"#p .kN)(+ 1?vX(95'Ts60_i 7>rNyrF[1!=C<+YEi*~h%+KpU "<;xG&le=:][ecAk=)S],WYgpSRiRJǒLE(E&~r-ԹUe2THivZvklNSӺ̃VYyl9$ gB ϰ\Uv0OƓ㇠ w]Xάi_3A.y0ouQf>0pxQg̜a`$6vj"~,xbJ<9rh( p= qppvۛڑsnM1cfW$z:F;(Rxn`8^̵*ߟݗ~ol6 ϟc /*K>]fXtm&o ƶݿ}h֝o755 2Мئڤmcܘc 3;˂u _&r(:fcl%& ke>}>c D*)L>1$ rc'ǡX],~G6ضy,&3{6z 4^O߿«f4r~G|/lc7k,;4!?7^FeҸ u7[L7خ>UVst? |HlPm'h;mH&~^֙4` /1ԎIR6pN'ROoVl`a!߱-!f=~ZwoiSH;SO1~~\8sY؋3L{yӣNxbʴ&zNxI&J:SAld9-r!zS(iu / !4ڄ].# b:ij6xoBU֍ѫa8YrJ5DXʈȾUDLP1\t‘n >C1VuU ҞL1@cL2pUO&PIHb%91.$Zno1"jD*Xb[ZƻLD4.S!9O)ŖJMt^)k@ݜs1̻mS*|dY:ʮ)W]Y]Sw{s)S'Md"A=Юd"Fl$%?4]O/β |iR =R))]![$oHu?SmHvM8'i'm¹_{ö,Ɇ ‡8oJWŝmscWfڲekurhΏVt5P` rGU=w*)3K7+g}ݎua7Nhυ'6wqi^&CudFYu`6"+s2DQ,v+W5ft[ϻ]/ ]|Ӗzcy{_,JR!ͲWge?fj ;2#O$nFs1 ~"g{ y^ӈE35Oӈ㸗I6uJ˫ ׉eiᇾgm.e+E}4k}ʌv~3%\ܼ ǤX,̤x|ÁKN7qy[ yYztx~GW_"Ӊ2zab(0 Bտ}C䷱,PJ2~[xOL 1SAqm6|$#_2aI:3Gs%J|M)ɯc8љÿ|sZNNhxW2Z`7܂o~;l(tOy3FQZ5Œ2{/F<~!/%2 [im웗XEk0郞_A+97?,5E³+(ٳ|r* f+!U綖M uՔR\\OqV\/+ z) Dc}:g&sq11P)@*b doL) p$ۭL7uzxT.-GãۺUzEFKUN(\Hs2Y3!Ybɺg\;F)MM 0W\k#po&RyqUC[C!<5ZѦny[ <e,bsfK07* k}f]w0[s<e̎2ԃVed󬢾K_hzِ_xM){g\ sBwdgQԟc~b䙜qA^ qNG6v0_3jEqb-M߈c\G_?3vA#99u%{w1}t!n @{|!rHs"yBoZ˘Aݤj4yiIy\Ōڏ&n',; {X:`_|p&''Œg8wz ߙQ\& 0j󞸵{#)w@Z+5!K ڶnuM:ZUbm}NvzfG^` y*L`r `ne^ CN1i6G9Qۮw-!MV&J6WfwsC]ĬU|׍+0Ȣi'7ma-s |/-'z[^V~aH+^pb(Vw" 'a^jG`ޙFIyczr4iVY d'y }._ضkRI@/Y^0˔{xܢR`DN܁beU/-sm4ޘ R{M!ǿ)wbRWNe=T?Ʈ v6v{MN(^PD7o˦tL*K>&<" ݺZ"(xPRHmq&&p$YAzؾR+5es7Re#˟;Ƙ#U5*q'Xu~sZ31 m4+f:Abqur:Z- 5_Y"<pіYYT/q*csl6N#=/̫M/%molrk{G..LϧiH53eҤJY;פ/0l?p+ XLjrv=똵ΊRmgӊy-"MYDrVs#`.,5rW0iCC:~~9U8;es//3^Xldr027,Due 4yߜm(w#DQ,8;BRJ_%7=:=2uCU-senv }X2i**H|jli/Fvq6RTKciu~I)Yy0cOdQۯ&% lY8+Yp;.L5I L bO?ʀcXՀ%7`=GLS:u%0ΌD=#&r7ٍ퓾f^V8~=~ |:D9g0`iwѝq/3K9u,f.&U?\.XGGpzXX!կ;Y7|1<i`kXA@꩕ܓz$i T~{dԗ=j 2] V\űEzNL([9sKl( 7b)L1 !Xy?޻,*z،\ܥeo \Oأ*de7Nwh-'"~c>McysldD͖ܦ,wkgʧ9?߼'! 6 Gq];VW)jMw0`$ATweyx&RHL)VpOihj$ՑL\vtiM__d`c3^?Ʋd|n>kҖpj'R=3E?T}߇oZ@aN̄c9bL~[x y ؚ7f%hЍ&Y%,RorN#Jk_ xp/yT..e _MnݧD`Z )y]DMckTΥ'y(Mx.gUJ0~3;.>ivzydʟ}g2SںJr$IP]BRRh%?CxrKk-Jmm>kc O(wOsJJ&[yWWB?jZOཽBOi䯞T^ki)wo!3 ̆22<1VI%rwxԖE&{+2_W5+VIktc3)jTnyAO)iCn 6νNoTvs6o?N n!o6+t7<'tϛ+˼ZGoJ<rSu)OIz^9r> Cq~V"/O1}39yK s(jRLxL~Ц[?Um^MwS%`G䷺r*i?S־"G6:WԅJ.)Wfiў]*Mbx=\j7Þ$|r'Qu6lOfW+Q+轪0Ϳ5qQ)1˝jäbcbܩb׌Zڸt).1+MӬy1]w_[`-Sey{ (ŮW+SDZeƄ>iW)-H:~SMD\W:d\J4LܖIhS1,r,DKMT&rU*ny*nw5+۞$SY {X^}nF:tow%הt>Ǽ͕YuN胎mrcM˺,S^on/U=j3߷}5}5OݍIRK[̞VʯbmW>mW*>-W_NE;Km{1<֓r%e2L"k:.ckOƵy~<bOeO^bmt*Ԛm1mVJ;+ O[$ObC\/lha;$JTPne8(Xʑucv9 ]Edc{yTy5y25y]hb` [Sl[ \[aj -&_'j^WC;au54LxENc}8vPZwg12_τ]1s;'߇Fl<]ò8<a]8/0J-Yw%KUEDxsHtU;sXK@IL@vj3lMʀZUI36UƜ]S+;Rx+7p, ,`8ݻ1uJ,~!!T[jCwpI:fg8ˆt| F&\xiZՆypdq@tCZRtUՅu[ʥѹr>GLtwwNEa^-"|qbmL Jcw],}R9P"pDs` {N0wb:,gEMh/;< b/ʒ2e7R!g:X8W(bYa$t-ǮPfYΠG)SnըHr'}a+Kf6ƿޖȆ$Ÿ^eϙb(*N+&Եb~qg9ru6.{Y|LaKċ)3D \f\+Mbc@+KY _{,zyyGQ hAV4hxʴGF<ɥ;D]b_0)g&Lb\Z$2 (ct7[b~B4G9Ep7uXDR|]g/Q,zS#`k+"e"2רLRRvP(/df2OZ/MClzQ1ķ$sg+|K1P4KEű Rwl:YKLKg8rF]/\Rčex0(vr=?2lCw;/3>`s|٦h}pPڸLJE5)]#23dfNhze9=D<7c9>0O~ș6fi 河!f} &^%2ib$t#S]˒j,(eVT&8Pգ*K5$S:QWSWPnJc#|}OeZL 3*>kM߂X'9=}q&}k45T$)u [8C#+acYݓҒrKOK.F]lÌ.ʐvӘD0r aY͉&*m?C1$v-!$1ڐ2ƫzVj$)n*`;( Ic.z6D8bѦ60O :M=ʒQgfEۙmxXPb0$y Zh˖3NP\/q<ƒVdtZ]0%V=e2޾6{W 0Oof f9?+wPClB~ޭEY3k,ya ;=ti0GNch 1d~ _w ,z$G2C1'*,L_Vo~J0~ @r6^aɮM\-~΂zy-J~=؅c †9fkF|ė}OqN"UT%v-*B&I[³l8x~9o[\, ,4~\0Ĩt`߽:Y1_l˥8;܊p4.fuYNBc0/йa\Xo?s8y+o Fԁb =N 1u8/jT29-Ywj]dYR#Z⪒5DY*@^FVs 07 I)Q슳NlǑ[#n[t[ ;8(vĦH.BZWn*ag0WIIO(S aB'h,K_:)uGiox\yx/:tvftj/ 3 C`n &aQx6`]'W9s$^AfW;J&nvۙc̍~gOv ė]#1kQ&\Gj&sMjr$Y۪PjT$Ec;ef _* ܷJٺx&GÈ{SE=+.߼}N~z K焯XH|sQ<9v~jƞgX ;0͊RV(R%+`IkJ4ND|M/k?5mMf|jÁSٗIZLdĴ!2Gn8kU[gה>vL}Uqiy5l=ÎyqemhX7!hֽ @$1άf>E:\H *R ?~9݂rZkB”z$lطs7.exsqBIPo!Swљ>h0?Npr+vgÇ~D[n *>WA{{;Zr:N%[bʥ0RMyx=бVOOaƒ6d굦l/)bx'2!:ԘcQ!;.,?\ %!גk3k<=@M3m,f͘pOBofJ= πk~=f*~sfX`y}-F;1H'A>i 9~WX? 2x,^3M&&5n QX8C9Ȅ-ۆ2d"&_YÕ[2& e?mLf1zvE keiݾ#N\̈/up'W8q)FPٰƯby SFlZ>_S>"uB{ mk\*fdlH Q)bU'0~v.dDHOp&TO3i=QTeI2$/5 "bN,>9ֱ>Y6|ǃ2~ l]̑s'f.v ֻUU}{ 4%d:]X̡}2f.=$涑Y+`@w}6{aCK8(\?C։NV"*ʟL  `҂iܵ w/w]\}imwt}C$fޓ]<vh 'Ƒ0BNq.&l?H!N w.D%v74ڥ'ujH}䏉n\yҥ]Mp>*e בMCᾳ\ &;U]|MPE|R4͓V7[lNUu6@d"iV5Ѡ2Jbf&+Km2͋h,_Hq]dG%6I&]qVK6iHQK|h0Y00[U;Ʃ40djL *Wx2_]_Y][&~U>+暲{dhJLou$LBeVJ2%konjLR9Tt~hPٝ}_NiN뱗f(W~>pU*t[b ۿl:!B{bM[ny)·4Wąe«\A*Km'C߫\չGYݓ}5ënuƾ-.f_{)#X^O,/z|Q)]?Wcڴiji2vfSDiRSShmhh-Jq/)Od˞+^>ꄭ5iOK*ʄX֦6}bE1ʇ:U}4)nYomƅY**gRyL>G[U[k+{zBAoS`oc1+W^im[+WБba " OpGb)/6pPQ{CᕪJU&zSDKڎޢ77=3zmKiI,\v troyaY~n;VQT7ɨJ4gኍv  gá-2YEyA8vx8MhsE9w|]pqIYƪ%Gwn>ڶҸx u`B FWcn}J^f)h J۱,[ܹ6'5.VFw6BU*EDSv8(,z7K>V:\ȆrAk)6 ظQmgGqbFyzjK HNZ~-"8»MТ'ӠO%,} M$fe\p·x^>}Bj, +KLDdYtƏVk>+dmNDqwR-3r tG /vBZFzSp/3_gv 2%;Ng mWT={+o'ڿWQɡI/,cyl˔ZIzE揟Ͼ <.6Mc&'8_{؞Wv1mnkzܯTi&h?AhQgw(N&X8w>BmcWoX+"ppdB~;AuCs(~4uv6?©nן]gƳ8\E.67T9tXv]҄y9rd56P$@->8[V6t5@°iq~Q幉o߈+ ɢ>-װB9i Ii@G,ʻ}uL0k!Qc w3(KKHDMA^zAэιDZ㈮=wU"%y6^cndlAUI. [ 9Sf$e -}mGo:wΔx#Ė jj Be<5kGgwb 7ҹv-Vjj{':@A3GVyʳ8g (yי>$<㊞WmpLA5Vb%-Wgm}GTki]tBHPy7ջ*A^4l6.Qv-.UjjZh=THj{b?J֥,|(X yD1X9Ch ʲc19MjA2g 0 ~$Fc$4,SsrBT5ZBKg\Gc>Xܡ~Gxc62insWNn؉׽0dސxeʡ"H?Y8l<-|6Jꆗm!81v|jgNw?=9Ͽ)/~ς3>]+MʦA8m}ںzSC塚4X2f5U_/ܰcw=^[r09 C 6=,~܄(,l4v iEN=EBnKXhF)\\$"j8`TJV˼\>VΤ?)PƓEp2Z8?_I Ϝ#Q3F)a&2I".oȫsdr|+W?+>x{Z|Nfџ>}O x0lvk폒SYr#-$TMf9)5;Mܲ.뻁yC1ޚǜyV1vT5C6n[-uRMCS$$jicШ5eY}~F~>u)' Vw%y)ft!!5,8٘ʅʒmotQa$@涬_܏QD:UY!*D]:U+oqrn]Y;9uy9S|r&,jr5ܾfg ͬc DreY2l(NSysN83;vӃmCF`u !mK5sbnPÖw`I4#31%}͟x+O~ļM$ʯ١Yśl/`Κ$Fk^Sʩqά*=10M9u}+c\1 bDUf̋YQ󴬡YfXY?DVV.\Ph<,[OIE5xl1q ,.NP?e*I}ݰivvgw8f1眳@@P s$3sE@$ttWթsw:uz rGΣ#憜3}œ4-gs#+ԭSk{|Uqx'>& g◟!TXjc+^_!(Հ'ӱm'հ*rx?hti?Oz|*Mu k߷0VD0(̯=w7 + x| ~{up=?ltq(v+\'m]盡؊B0w݈Zq+1֭[cooœ|53'GLAo-0ͺRpIM0FwO uYWAyGj(Da~Hwy[;SksX5. 8waEL}zP ¼l A0aݕu'Omy>}>pA-ߺxXMw Ǣ8ᅅ~/_G(-X"Qv0n¼f+gna̫\G`BNW>E7Ä=}E+Օ8vbX[iRZNi/( J"r}ܵS?Y wo1_E'|@r>:cG(x>X.ixx(z076Sdc{SN4x h$lpGxd$l|bq繾.0j'N$0k RqioSF+Mxy-2wLtO{ sW2~( FSv&4\9fmU']ϻFlO=W Bŗ{ sk4fg wpGzv9׮<A n'aպ8|ft}4#ɋ6H3lCz<^+}V4 W uck_G^s'7#æw`wD ZPn7/Rl =[dnvNi?؇]K[u K s^2#pQÀ1.8+2[ pݵ(oDD⹎0W -ălJOQn*):=+oߦ`WUM =0*w KHX?Cg.57o]E"|׷?yN!Zץ=y$~ªUw|l=3poj) 4LŋlbvE n:3i r0]]|H lwqy&M^xr(m-:Vw ˗ DG)l$1""y!e-qܯV wߨ{Sv s9[!\/ۂp,68# ]fT=p/kan%紩hXŘ|\MpI nEKgy"{꿭s<:"?6>'q oփjQX^|§Y8܆z\:Ϭ p/j(\/z|\{,5XTDڃeb;yqW6B}2A=QxA*bފ[;i0Xkx2c6cg\󵞉S70{;:BlB8Zy]?m33P~լ6ؙ|O{(M( Y8DC)BZBY&޴{dUvxDmcb4^,Bxh 8\Io՗D^RP{02Pqc <0/R#o:/hSMOn[>#HOaq󺀔fbS70!dB ();`jG{ݔCy٤ cc*  \+({q^TXw2Ҽ!ĝ4L]Öa /= \{QH vBE?ָyF+BæD45N}rF[g|yx匑ȁ_ BuOj_ ma<\O_7/vPb`jغȦd/bLUŎfS}{%?x_ssOٳgiϟ}/;wFՓ'r}7AYhJX1a$~zYYh$o?r#-AA[>;dtd2sLj׿ӗND53ǽo}e4v58lwܷңr}ra!䉂BYi@eUjBύֻ7c'llgxѽF6wm u77[PSԽ=懶uoX=]mMzGR? އ1=}a?O=J{u}^Z}z##щџ鏳n{(MMPIoƆTx'vHχ-Я> E9$q/ c܈ rIo鏑|\x/?u!tAMqŠQj =yNw~k*>zzI07ׯ4 e;4A;S!tq/qAhXBO_ x d3DŋLaKX$ŃD1CIH HsE4MĨe~Hs\v;Q玠Q\OAM]ǒ>`(!;GSy8Qw /Hg t~2tt>[A-I7DEH_,Ww 91Yxq - 'ci/‹w`ѳc..Ȫ@Jr\4 +c"Q,-烑p ܿ OPQWgu} 3QӢQ@F%\ɧ'*E\&_$< ESPӖoFL{ Z-נ3E{ Aՠ1cEAռi-By4bvԹ")_ϮoGDj-- tGmT>LNܱ W5;mdx7pR u=}Y1BθiUcchX1Xx2~M׿qh-y$= j1Ui +{O!{ۊW ak^XfhG,1~=C^s5 f1硒2: 1`y~T2l ؤxjGxO0#.E{o, F9ES*dJD BXحw`7V| /?6K חFi{-KǼ'=0$nY>s/rW ]A C˶v/q3ES Y`_0mB6/9띚?l.~2ua0~|LANc!bc竝iz- z'>\u"$-nDJe2gA g9ʿA#Ϧ;A3*Re tXk^Pth a {ǻHL7_"k?+F5ʛ !wNV)"W?yJo䡢S] ÊZFţޟ~ÞjԴ#vrZd~em lݦ`ft ׄ7^HN>Ƅ5frr1eIy2`3CafcpAU4,jR4!)@=.l)i*oi<W pN873 ]̶Ac֞>υyJ+Sv!3&g6BXs >tsm`ABI[ MU8YC4gldV,H`ip(ʅ;} g"Ymy]V-3x1:()=2o +FqK*ko}?`nb"l?{0,!_{Z5Rl1? 3/oDDOk~es?oȼ3~?_لȸW-ۿ?>KÑ{Ndtz7rFIK?aX4ﱶ0b+4mBxn%&lZ& gK?`G T F`_K0% #n*ր: guW5HXxWa*8$u0KkQ\}ƛ=P#PO7 9#ݱ~3ڨ"XbHX8YKZRB\zk<惣ϴ79P<i0'1,>B?cRTLi}5FQU^܉៿qӐ=.@x,|l(Dt Ϻ-s'/돿lqOl~3o_89qزg|h5-œNHTQO>شq O 0KfoLHO Wlg |/XTXc: I{%;ml[zBQ+'ca{UwחxwSdafp[K{쏚_[rߺɀd7in=G?r.6ޝoZho|kO?S-1sgf5bVtO5nD|+ 톖y!+rrxQPqArxJMy!SqѩAbfx(9}ʒ@6RL@6@;=7#AKFwK ^.5y6>y3ex3÷>"Q,g ;yg r5h=HlO_{\\ك^/lLfξ]?^ Aaqzҏ.o퍟 ĐYc,$tw^2c)#b%Kigx<ؼ]ۘ ǡ=9 bj$b.B!>G/(KYs, `2bԮ hcA͌ f"), AÔ@tW30labR̻[+BBflCe[P)˼y{9NoRNjC6 "桢FKEGPLjz@Nߕ3WFe1 *Y)QD:I#dzǕuy^ x F” dN[~UřzZf.K^?G,CC=a~7aRg0^}/',LDIFc\(W7Mτ\xlo 5X<7Zۿǟʂ˦>sTEI2ϏVY/Y( *ʕ7l8 =%fmEPlڷ p_/Aؼ{[m*e{b+̦a0w_ 2 Rx}~bARiaLA&2 |*Eg"2$iW6ɵ :ҳT1*!QsEiV \XY>L˷#Qpl[~Z2~`D- ǡ&?ڵsy^c$2qḋT> !1R?XrmJ>mwk> >Ers$`,ҽk vX 1v4wa"rZL4\u]RWiߕғ` SmZ3X`+ yC9JRG)UByYkr8)W|<3G/#[lukOd1]EuT"JNGkf>S2hy}Gs#Ndxi+8 *r m| Q^IG(j{q"w#e`isC#dqFJz9 vq1[;Ξ8x}Z F;tG"dNs+UȬ8;\ U?cK ^Crƅ5rP9'`yv9 3^kRg0K#)}x"~.bnywT;T+̕2BH-埑c+!%oE@^FmESGnSj9.| C-EU z "BS#B4RIRg#r %13cћR \.< 97F/\L];z757T8 _'a Vo ~g?oG:\8%Vɽ'pic{! WヒϿ5ql4yǯG?.Rf/_b -#qvox Y gxpL /t3|qIYːy ARp%|=HԀ,y*gm¿㥿7^qA3N]C$c6ܭ0> ׎$8 #ewZФ@᫨k9/L#ǪUjykodخZwnqgR&&\Μ(a[JbpEZQS> uu}/~KHٳͅSTNmBChkaFkN gp437uZs, VXaVOUvvۼ UW&2khGgD_G+U4RXn=<\E,q3ۋ6[`Qc.#/1Q^n.;[d&Ғ3h~ָvJ|r91~>^) G%c7ilց'W7E!\9&wޔ+WluU~zlPQpu?Ea9NCF/El's}wBQ**~q+Bt7\ËQ W/DAMF0\P]]HQ{? pAɩ;\k0=dM?4pv>;ŇP׀$" smˏQm;"ܵęx{y $߁JoIg:ZqD%.4|/^ƭdS@9J=!>ct4?}zY6O2e_}sr^= M{ ͦqA뛶}So #44~a M\wnkڑB70 37/¤;fShD͕Qy>aw#t:.Y{E^CľͰBBs뢱hyɈE aТbFcM NAD5kΤc"j6_c0na{}WF/&gQ19ɫAe_laOz,qc~nftV+7œMs1o>䷫!C,DLX m1;ea ma.O$ECBRzZZ˼F.`)ȀkĺTL])u'7y,y=߁s?`M)plb U#ȪpC#`r K@z$[vh4@DynԴeuRlHA$UkW=-EDDHA46hb9QSyZ$6T!퐦 -AL +F;&Ȼm^*Kh 8iL;aVsV!ciNY$,B}޳i S1L%M VYU'"A4,"ǵo+4\nE-8 !xKwxXx()Lz4L̉yp\8Wv RZ*s/âm1K85h>V=ߎ5IѢ U/KGiS6N6ǎyvDX@)~< Y"Zɥ;an=_0w1kҺ7[!q`ځFbYpBr`\, p6&ۇXL:טcIV]{- 07srOzbRq,f,S٨9b]C;}݂-+ +CB TY(HUs\v#^JObZ++[xV[NX|'L{?ĎC)H< ȅܯ6Xj&l.e2CH[4ͧIr@IxS&b*} stHU|~p: dX%5P0 `7fH֞b!审B:$H[R~ZArHRDŽ 좍=>@rD Y808.X洴9 p8=aޭE\E-\#㌥CKg,>M9^~?993+6a1+fMgavf$_&Yk^:6`3Ihe.ك``8K;̈́l̳^71,jBhПŴ_$Ta/0%p?d[P=H(n5h]a9}#1ǣQ3)/<7wcgo~9(: ֊JDqAOr5‡m.V確5-%*]|RDs7,&p @I-(4H; 8_[b0'Y1T UZ$U$4좡P/ ΦHB0 pp` FmI.K)=JLʊ1JMδ)(  IYJdM #Z˼]ea? RjcHъTM[ '/֢ 0;!> ,fbv8̀K2!޷_̞X# 4!֌Esaf)7ufiK&_B Jb 'P7/jme8{8ER%~{B$y^kaPp* ըχCtA=X&Z'a``r})pq2GoW{ߏmC-5#j$~_ lWS~`d(jq6 1/%r! h"ѢI#I#Ŋ 9JO@4f( )xS M5_1Ry f<B79Ek*RmgD_#zc(+tuq|&/j,rP-@x側-pڌ+:eX;XR)-t-sa$;e`jM٠pX2 |^-s-b2$Wlqr}{ QUG)` vXaeȾSʖjjڊ0B7>TRC~OtHTDq;,ꅂaX[ Qk?**sK QB[ ]p:L-j+Vk](3 #PsUL` Z1u|X/2Q˾X2c|xÿ7^Cڈvjķ"jp!J2zV0O-L53l`~I*a9]'(+y= deA c@u)np =%IPIk\% 4'|nNV,Z߭pۂ?N\߆`Jn>ǢHxNƠIf؞ճbԞ/]_MGco,Z]'`aQfLǮ)\&Ta2Q)ȋ@֣L='φ۩$alCh/X8q֘t.k F5ɈL݈k&þ: a/15b*`@, vu/^ މQ}PڿwZcMro# -iOzNFX3>+i(֛g#IiH=SȿiېuV]MX[<ckp>j)@|u(/壢=n`-,":%+M|XEPIv?dL`dT |2]PSd]V-+HGK }˙;V@oS2ƄY1&kG` jxHu)?hQS25S`Ћ`|c3ׯ 3/Bx ̶iaCsyfVoنE^ ;BL9;|3 wF.ôVCa썜m"1–bڶuź݋ĶWc͞YXucږupQB PfrDc5b"Vvr>,#R(h+-q!1mBX% |& ',b#*6b{aͽK`_Y?o-y* `ed ŧ=vi\Ǣe~2݀ՈBubl Gl&:9;)XeYªܘf%3+=I&W2m*T5c4(hy-yZhpW^5 afxTCS)+cxgjpUE*Ez\lXxaP-oX+QsAD (臚j'{TKjI+$%1&4KF)Hy\r(̌.kWH(JT̚ j̠FA:&C W9)N**˜E;X͊VO9+x5b AEak3/9OّT& zA YAMd1@)'0WnL˄dU}VRO4xY,#Sb@+.B*CA)6DCJOdfT6lj+,dJF") (̅hvR-Tte`D, 9ЌT~)8`&eNĤa=Q»Ɉ\HgXRA()^r*6ޯgc۬Vh=+Ǘ0Es% .F .fL1f恍eEDXP}m{D8b/};/7l[/s.$SoHW,~}8EC s :ǎEt-u{Z7y<%߇Yڄ6vF;W&lJ 4VCuA+̟gX-)Q|^<{ +fcjkl\^q_)ڳ1lc0%h?µ'H=VcNaڮkQ҃gissaW#̕[!/Jk5vϑ맖ky O@,64?SWl:C jS1GKT7JM<]~0VYxl7598/\tf< ]'ƺa^2$A:10D}(H/1>/ƒ)1xq <Y۷]n 7bPk`O1~-_v M*xOvAT& 'шKZ1cXql9p5cM y-=25иN`14nك=8 )Ga5cǐ៽`GB , ~^㇪#1)Ya{1/>~?>F~'klEy^lu*5˷>Ly?RN@)/ %T"*Qx.Opqx3Gx\OJ(%J366I8bݠ+5?U>C7_iT {qm'3EgDy yo!a2Fm(XۈH N׀{wO"dwx/îS|Zr0̚ :HkQ lW| {&50{ |d'w>K!1/++_}[ lZLr6O^Km9}⹖wDA>VG[+x*xx0L'A aݺti~a~ V)vTLv6.zw))uNjndQDҕxcGn&7Ș5x}R~aq]9(–Q84nGxy42F!zVo6bngPאmF5DZ ܜQㅱCgµRT^miO5:}'!'͆uW~@=y#I  _n-Sl\KC*ؕO)m7*|Q^aH/k03B+nNV'chjj@CW:..4\Gz-VT Xcw7hUΔz@n1Y)r,ccwYJ)RbM5ʤ4XwTKS$󢧢'P { 8*j-&hsP{# 6Mb;ym &-@XN>v.PnǨ7g)yE7; 2e=wO2"a s$T-"|ZXw 6pŒ&vK05b@7+xG⍭vbN!-!Y<cc{IQւĹG|/bpfp 6a{P}sPvxJ&D=9c(:X|\*Ƕp &[DW]bϫ4UFi9b6JSG0O  +yk̫jwkǘHAcx֢E?:WcWjYWh}JĿ7Dx9\>;Tl pOGJ(4=q 6;7bS2#׋mo[b)Bz7rrRk.m-["6HV]Si}ȅ'.`K[ [ mXm+8ukai醠dmjݣܡy'Tə0^gߋ7Cn,)hP/J;f=z/ʫSX:fX!"6*EO"fJ^ P'W)=n^r90MXM 6&e `J́Kxr _r-39cij)iKD-9lUΥ2J\VE(r(J˜j{#DB`.2r`JQi7FY믓 ]2R'FA/|3fr + ~HPRнȵ.^EU4F1:@eq/ f1xSLn Θ9sA=Qrn,~#gLy#}McRc ']R41e%B“#D r2^'4A*,c6c2&CH< 6!~4[u# zwo8yhS`^{x[c#H/g~I Ab'$l%$Ɗ 5!E3A'J蝇w'ȘuK ^*g!wȥ6%c#2W͝?4䯗K۽ jJ"Ls,qPաFX+ @\Tj_Q,ҹ_UG!Q$aI11'C 1SbRB~@Pѕ+SJ>cg %1VXS#2$ o^R ާ6a~"]"GH?L@b:Ο7=B^/,m+F~I:m @PV%Ѝ)3o5I@K*$%³ hO h1ybf_7DHiHC*͏F~zQ^;}b4+|x 3a./mjUXo?ƤHk\Kxk 3 fOMIM`eW Aj(%=$Ѫ`Y{DH`/xf#ƃ9`jB%@4$т6N=&%t+U aqX݅؜Mb,%10ѷ _$>/3$XQ`YaԹz@\vpR,+(HJY4L1xU8qLTS}g E/eZR%=4Cp7*\EW_̊ZG0׏1#>Q0e nUiZ$n 15Ndt#r \)cj~/*]k?uh0wz(4@`0nABKY>z} YmR`1EaKX1շAR$LJaMv0Vb[~büsE'<ܺ*&M@oǐv /E~Cڤ,๔%YLˆhV>z¤̐ , ^VP!W dJv m P%cѓܓRMOtsOJQ \\$KEiw ѽġ8q)nP}a2{_r~1;)bepJCp 7efnaRӡEh:̚7cY!Ս /?IQȿ9g~ Tg7dx~ fDmœgK{IZY۶aJ2@ 'H!Ec^ٯ"iq0 ;u^3b,IIy1B A$!{Mѝ{jx|B>A*@`-1캅9˜4O-9z9IA=-)ĠšB_O͒<)^C)"' ں: ]`) T$PvI+OOrƙ* eD gc,:eUiX^2'k4ӟ>7W~mt8myA~mR#-^ [# |7 <U(9UK`s yH˳[unZ]^X='c+ 2Wa֚5ؙf47w7 kV&V N{=8)3¤s?A+ʀI*/%p0cl|X?ֻ/~ M9ñ~o< d_϶TaZRcҳxh4ɲyh_1 iTCC]hnlK8 ~fwB gRKD,X,1^?x j{9C\XqX)$}$}.DCܹ$זw5^ +` |]@4=}w4[¼i&a(>btKQT{9(|Uf(NAES1ČdTW "l*l]ÎH8=dd2) Ղ1|9LʄiQ3 *u T,Q悞0i+EΕd8Oن<$JrJ\ݑ c ~*J#CC5rdi9IYU-5޴heGJ\`ӧ;0^DXa):Gc@ ff ָB0Ȟ"(h$LSIy'Npw`Xa)lUm3ըW̩C0%`'N~ b(@PJTfaך0'p5\Q١Bv%fb-T2pq!I$5b0O7I24'k,xtJc> EB K^h=P#**~b$zF߿ow?_۸ k 1!AK#R"Y Fͦ]ńY)4w&fH˂OI>u Syam=51%*k;ZA\~hΟ6S '0J>yx:$>ҳpPt3;ּߜ\x\Fz,_پX; KUT{bKnc~$"A9Raбؘ ]˰91)Wvbka9M:&Ao,C2oDf" jߛ q4D}ˀBӺi#ˇF5.ѝ HGrΟc1‚Vax'F $_BQ].NE!\%ct-s~}zSH=DL=MI߂ sD`d%0?z?e%0bA5TA0{R~,A^@_Cur/@Y5IhH 1o\P؊5X*tj7į07$;`osZBm0sQզ?aňؿ u޿"7y'Db$L]3CGL8\;D0U娪˄$m["A6eR$NO UX?< @Z<{t,U^_(pJ Ka"ҩTyahiI4GQm%dLZ7 %&jHLKՑ9 0ߟJnQ-fpRzB@[ʓ. Ԓ.Z'j,T܈++iP#w'PXP`s+' S嬴,a|X2ϕ[ d9dM3} åY)j!`*"}ݒ.41  4$%LJ7N`b%$6+;E'VY7B C3@.T"ϒ(kS ^7@ٻ}?QGhS!H'x&-w0ZS~ c'([>p{qҝKC[S!ʣlB ~‿u?JHaeKJ+<$~$ן޹3⇧'/0i~ [1Jf{⩴Gt}QpP1!I̅T8ϳk54;3+_ODd(ۻ4xV9J˜o^RhYIsz.~R_{yf}˳[[[q֭o{{;7vh}t~`\mBY4ۣ=~Ի2KsIׁsHjikt]hE`cIc􉗏u8Χ{=`ʣcv>ou"ECދgcv+%XBW8ljϻa=f}=>X3hQ{%P=¹ (<€g0#Sb n)W1ju '.QTfp4wҞuwLGuR}-]k5eko_ xeK34Kw&9X) X\B8xi9&D9끸JFŒAo0}LL{&Ymytׯ_Ö[."hx0g&.5ǯcHkѥXM@>SܱfT̞7EFۊRQ?q6 7~ca.-J]0v Dچx=%_ОjŝS)0=08B/{cO ^agze(¯ HE*ם"ɵ2S|0{gW t5RI0 7߬C[=mx|`ؔqkѢ!߈`{ĖDwcƴ:s(Vo*p+%U+,*<1ʧRKLjL/v(ryPjnyya gX5Q܎{G1oaQ1#{w J`GQ{!÷ @ɥoXXi\Ƥ{J\ssIĎߨDl5+R~>X#̟ljx{XXjK_paW 1 0 %t9cȺO.L +QT kjXo;yk3n*™zN%b|I>!*yXOn"e+³TLxٻȍXi'~;D¾˱\B%cE rM3reSb:P"i;\2\J~*$ 69 T,-u{+ʂz Zk1WoGH9_+muZn?{jҪs7 A0 qpq1wm) ݇8PYb8\onpվfCƊ]6n,ξ5_+B ΋.nRni 1Ӷ)n)bдm J;YyOځE\[%@y~+^)}J-v^ScnIZa|hq~:bEY"Ax 2n'ďey~VsxQۖcO6]"UwOXd1Qy WXl}<(qZHqmklaoO;@L|9/D,X NG:D#WXXC2}Er|̶Fغ J2vc{Qx 9iɅ$cǂ=<>]pAF91Cԡ%) j]o {X]B8b]`y)vه`]MKďރaǕ0prEcㄹ>~ɛB?5 |/1i?yUax[0|ZvW=1~H[ k4\on% Vuq ӂe؝PV0gc,݃Y2 H$u("`m1GdkڼXـu+?{OP/;x?G$,o:+JI~psw-׫[bSYK7J7^1u2;~מ ӨkZQW6ɴ m?%¯}>マ^=u~Ú@X jG*Fc,VwF0wշ5cqbV; v?n&b{:nԓ=dl] R&aysتXk 92cRWw_GL7 . ]X^ے-wl2-rGkbwg~)2TUpKhh: 1}][R )0EXEPbjRTS msa}$_o>pḵqG.47Z]D$& '+ j`Nqvp`BDĦ!/{?,}QܿAñm 8}Mm/Z*̭[x;='kGX\MX6ot,Kq ?Puv,/0RTTyt`WbI48OY~NeHJOBJ%EVR8ooD1м@PE{[+nh1 k}ıOEDB n^cGFIʩ;/[Fmm.]EqowF&TW颀-WcmcU)IV.&ϛF%WR44UNn)]{LjnPXīlz<f wwW^F(gk{pI)?X-ߙ604 Vp:b9Jix5pRv ]vbeXp5vz0[3u ٥y4̞mτ\eٹmX0 S=:uj;Hpe[/r[Ou:Ԇ Ჴs̬qj'܀ '.26V(PlrlEvƲS020\`NӶraIj Ut̙篃-,3Hj0*GӮd7PYlc jS`k!._Qocg.BD4 Vx,lؙkB\bԺФ0?'ZzZqM uHE_BA,v@Ke-Ӟ_;ѦkiXk6 Dȣ.> ˦iݖv;HM.e<hZi1$)TRGIq"гM?Uj]oƤ'ʱISGE% (( dc-*$'X(Fi1.KJXXLn:\ZNQtp>'<6rQ %^ŋ*Rr-5)!̋rATAOO2 yP~X Cz?J :S7.ְ7UeHP]nRc#) *f`F(+AST䶩Tiux4A/{Z<՗UY9(BK.C(beW!$Gxw)xWZ?]. S*Br͖HJrQƔ*ryZr %)r+ϙo,8S<ƙ\Z{k-)5djMUEBz9G;x K{+5A5x}7(NJ /!WCzM3e/?+~hD/}E{&ΆBύ7- 6׽ 7=~u{7N{BMGmG=l=_L7c=`.uoOYҿ*7SC:z=2Mg 3>`|ml(kPk^iϤS =ui. iވ4*Z^oן@ Laq%go@7y!:6[/;uפ6#2%}RP}pVwB̓DV%uSڣ3*MBx|tEq() DYqHS;E^yn%7bSW P$!YMgΐtZQ+=D*h!d rIH%!pҨ@,MI(/uE"jh?2Tj|*ͱP]GZ:iv"D GthJ ƃ")J_0KP x@7jhFyTD5$^OS4œK\X杷[qD Itt[OJgܤ@n u $Z.N0ڂK6"^%*ayFۅ(/]Ir_# h4GdH^_1D} D`v=L[)NvaEOIn2$1Y愈˩ [Mq>HS]dD到P=cH "BܐP 0G0oZNع;- %k-9w#6lǹ`8wK ̱ݎ#f/۰gs!quL9nJٌV lo`&KT!3V[#\;y0ϯ΁hB`j%ž )v a:\\`hg#;ܫP~r|w[;X >(ZX33w#YgOc𸘏J]܋=EX#2mX"^ JbPX^.ڀykb)*sW~2'L k4+FگTB8^8 x|EJ@ɬ"(B,}0ݩ]ٱr$mA?`ت0ik^V;o"]p|gOGAeU0rĂ/F#f#'s\߳# {D^?VK,2"nOӡ~ʺhP#1oxgdu>_ 騁Vna5=L dhZUFa@֨>o$}LWf-y*P0tY a st+0ܔ.Pt= V]:-< CM OQ0o7#1rn7 }pd;S<__ 5?WGcX Ǝ4ėo~aez.CFl- ӟ0!"B%5|!ۗNJPl[6bgΙ1-X!N|.ؕj_ƌH$s„?â8?`bT=͂B]+% [y(o@B-D>sZs-?r֫P|O#Gp6,KFyM.,1v^K0SԜ.1\4hY[c`+%y&Kl%H3,.#IP2i~wÂMny49 ުlTun̅`|x vnŜY0C-uWnl7^- FFY)7G2$d Dz!~Xsaȯůg1{zL~܄>#c/E|v{`ؘ_?෹l 6;*RDej}%?xJ[]$wy r+ܻ71=I4 4a[ab ^gyj'C\}PTQyap 6LU KqfX̓nXb*LE5[,KH#@5pP,X4=d tb/7} /&Ek>$Z[w֏cpQZ 0w]ڍ񯎀JT܎eқoW?4l^YWa`2< 6 ?#wGzGha1yx7_\;VXkDT&<Աe ˀD,NNE>{a3/je;ay5&n8JDޓXkbۢ^LŖ4T"+lQjTOp m5j#O|/3|ctDVYڳ0?b]M6w|߽:^CaSA AСI X0:DJ,|@T\V$5|Adh g_AXfB`ek23Q,Rf8݌{se jsͽœTXW$F()+\-@b|v{?y4z |(V[FΝ䔹x]fifbeVEk 5 \߽,1GaZ ",ܔx2"Y.!%+xXsܕľaeϯ.~Hgn.Fd$M޷]F01wd|Xl: b~^3_ζ@i1Xd U7w&Ôa~jp4%(T g͇+H*B 2sZ.:24?*Eic!˜`i̤%v?wP^B+ ee83aΛS-vV46UVͪX5xETyj V,1b0)4Ea%̋Ơ9ie:3m( 73,JDH"AG H*JH]sa|5tg;{,dU\Ţa^[&F&ٿbEn2cqnv QZ:ؐ!K ' N0և0ir+H_RR8R%b2H²kjZˑk‘XrqU(8 Lj\ʖn%VTȹ/U5Y;Ea^\&u7L㢒^5Jh.yѧυb`TvAyƣdz|{.4G,IUPoR<{ -[>zw( s~3~56`q뇜uxo`~?k,:eU9I ??S%-N#;fjE"o)EhׯlloXkC0?xM^AXb6CPآŽ9~> |PDɨ~oA }x̓ 2蔓2hA2giv;}X-C?֍ĂpdWnd-[z5QK0w"F]wWEB*5|%y9b2ߎv>o;h $\ Ǫ.Cg7bQ0gbƆSm3,e% (lA_lX9+yponڵ0C|t7 E+K[ #K.Eԣrb$XVx=mhgw_+w,XzCxrf[%kmΘ[x8g.GmmBf3hPGPiANJ'4Ț1M)\|5hFeCD+n亅M֢◡ޅ~t?o+v$"RbF!X8a:l |a16G jvov7?E4,JߝKZKwc=g" jɹ>[R.^.۫z3Bb0pNE#D''ƻ;bިuRL@l|T8m?|cd?o VSP? +1c@q S& jIލމْuC/ޘ3+n s??)V,IvbF8#\ U1p$7Ĝu탿 kQ9#~D@7xwrxGr};)Zk@~%yY}ZT7șDwV5y0o@A&O'V$J{߈cc)BQD@| *qvzN0 yb ΉRs~6vT%3H{9Sq I+bUzT`f~WȨ؎yK4m,b;5Ͼ&ͱ_bFFEwxW >摻Q#*+o&DVkX6 24{>؞|2y7 lH8Wi7SVƮ Ũ˂]!eXET }$PPR= |=Y*=:&&i soiPd`M!H#xZs]={ )Q? c Y]=? )Ԉ&<3@J`rYѻ.% HG738ư3.!y]M2 *FR2/.W8v@wUYV ֢^iТ? a*CQLIA^"eBkHu hirRY4,,#J2xN"5Gr&cܲvf[)?-e30b,ÐPzOCEgc.;].$1z;{1KsS$b"__ν{m[$5$=쿚J+2$'],צyъP:& @I˙yk'ޗLm'%IYDǔJ/Z(, ]%#OR!剦*aoK*TsuIJ:y2%UYH3Ϛ&7!0*YgA"D bSQ.VT*m)K f u]_2H :gp"],sRD{/} +{,JA--oa`QΟ] İ5 j4 MʗLYAbllLd'KR=T~.s)p<|RBVP s05D <[du7$251:ry+艫 {(cl *Z-`p-c?Rof o9 teZ*L  s]n(qTpTIQZq fe!jdAvL(Dj%H, b2DG X dA0F.>I+y룻$Z5Q0WR 5v7E`:ZLl`9q? p}1` <$K F*R)֋I <*3]WП%F(sj=jAWV䛲2ϋPQ:}Q~f LV0IA`@ByE*>~?E^"6-_XȹIH^ $l9Lf#b+AcTIaA-]W?GcjNo[ːw;P^܋6WT]Iȼ_HT!b 2c0?̭][xȼ" k%,k.ԕdYi.a.]&{5ΔAy`dI*IdF FI#UW゚8SX|YX~B*w*pCB7,<1[QNSNJ8jC Iԕ﹞:'˷`_.Xl.yK _=7a5%KblL;DqK!@Q\'7{/pS{Vp<_&X_+ 0_劙^B+q ;=>{/1JR$Z$A1C!%8$- Ui9K^ [܌Dˑ(ۏ"fZBMMaF2!dVFbXƒw286MrHib@+`EYP"#i>jfe'U0}7}zGnϰX<7 a[3}.Cn!)A"K"Oj0)~}S| nG>QxociEneHwaw1;ogc?o1?(Y$@s@Mw 0x ' oRWrUjW !ôEwU3'/#H(Ps)QjT3 ui m!J HJHF]rRHI.㖃0-g.[ȇGrӼW _8RҔ4rC?8k~',W豽)O#EC@1c/ҟTk<0ꡒt#16 ~o>l/v8,7aOKPyPRNa>?c5ىD=1CGZrfXI~n!a_n]42ϛ/%$6ؐd~6PJ@oV".2f&p8U?Ïaϧfxw`D[_ƲM5{0W޷EMU$̠]24%4xtƒ5S|6{7|=L ^-6~|ncc9hDm *`bɳb} Jl|7G9%U祩>bTmW(s])֏duHEsTib'I16Z,A:Z(Eb, 5<kNV8R O0o6 14,K *6Q}Di"g>$=De "( @P'|Ovx,q2z,ޙ8&+J-$!ٔd=q}Q\/x@rq>7Rxxa߉,݋G=KÑtL2aK)#3_*U I)]*Vq1V,?_4| T~xG& WK޺҂RŴyrIJհ$+Qd&!Ћ9PS(eC\e/yk)QV0Yq$lDp<R1TH)*"9:Zf b$2*5r\d̬)Eo.Pru-s]auw~q~ i֮T$,Hԇ6ڄx'Asx|(W^d.g k)pҸx_~ѐιO_˶-[qCHё xx>dzv$񣋤3ѪͰΑh#]Kdky!_N?i;ڰƎ<m =1XHҔ:ahI}ri_9Co,U2s7xQ~}Ovy'$svMzӈ p:8zЈ-<4ƣVXJ Z)U8(g2uӋ=c'Ok'q$g;WPINظewZ1\91"2V3(#EJVFC Cg)YS b(J?%ˠ't h(̂OAh= j>o.I@@`|6o'bւ^ FYKM|_w s_ q#v< \E{CpE.]p ½ft~$V~ G7Fe2ik镸$'q!,K'8[w,٧m5B,!\T2,xwcT%1r&2 ܶܯLEH+zqY>߮;85y8~C\v:P{9VÇ>B;"$ [mq_yX*>R"zcZ ɣ;ʣI)9JP wM3ȉzAZu)+1,f<{V|\zcY?EݣZNJ>E8 m[>["uz [3cBLjվHs/?z_ ǍPy}6^״1  M>¯}pK/inЁt`m&Na{nhnuu0Uߊ^/X攅+ ?󯠮6 ~Yl9 /կkvP7Cy9>V݇v\ށ#;7t~D|Q2i'rU)Gx怨E?:~_cA9?<͈1J)g2}١k5nWly~P:.si"R*#0Rr$5. G;'rG~tLrw9LۘAo8ߨŶIw'D N!{]t,~@RSpQG{k]o=pR/Ο/vC_·mAd|b>WFfqA=+pޅ7[`˷ў@" 7Phm(qx ~g2BCBD\lZֽ Ͻ#ޢB}\mA$?ծ.ZaM!iπfT]fjͼNolEͳ~\;VKGwV! "uGkmbr@ 4ÄyLrMJڠաgSw Evi<}z ^j7 2;qGW`LLe攓n.r3a22٫)Z3r\2}Jh,AesxQ.ku|W9Q{^psD˵#Eut5Ӹy8kN7ދV=h=;S'Hd桃|@ll3ǫ?;Pw&^|'f؆")l'vܑR|苌$l35G8T 8#wm;&%>BlkLlDy6܍P'GDwέ hm*OA¡LD3o~ CZjJi6ƴd}Oc+b JRx [%uZ̔xc` Y+ JpVi*9KP_DZt <==Cxa{2W;U/)/b?DT&Hn'{_w bii}QKn6x&8ZYӾR HWl^5 .e>>=\p3i` ؋غN)#q} nڹ孨56"KUWo#WXt!W/Ed<-銕~j' 8Qffø=~+ ǿ˔#R㎀#wcj7bwb_:|`^<ӱj-aGSuk8Z!94)Ȇ| 2=yPw .vd⒟/B Zpγ4F}g.}8]w{gYY`KH;)w`g אJڱ1|qrrMu:JaF\)ٳƫg!$!** qgn@m&U҆KwP݀׮BU>3xpzGEې8Q=p,0O.GqV Ⴊ\9}o.{6C}%{'WUxք/ZnpD*b{vG#2*FdF9-O)BɛP|`1RځbA8<ߕꐔ<䤢z{<;.$=8X'#%NխcUJ_9Iԫ"\yKQúyjONXpY6QIӌ+;; EE(+KCtfNzKE||jںpUmGq*~o4U )"h |=}#I  -xkA\ʭƑ+cM1j&4$=,E᫨nhq)_Vx_c,<1$?cc9P"0)Yq4)NN$E(_D )}5Hq[O{vpnEo nEui.^A L43_X݃0^E?/ycT SZin:n56=%RLXJ 1+#Ji%ZªjJRZK`W!5ӞG$3'A(Yc_Bͷ[aW 0/oOP9moGL6L]wuR I!ݲ~ KqBrJX>z _V2*+'Z:SI.-h#oxƈ,,n P-ALۛA ʥԬuA@T'yR\5`0N%\/=!9==YmE{7 teޣ 1.mCmEaK3UuGFgmhyԌ~\e{a? ^UƸ M0_8y8˞5mpiWqGA}&pQwDžT@g9@]?]qh!G{xt?<1~f.z;ؾњ1pE|01s+迣ݘ~2NݱͫΜocӺ`i"ίX}k&k̺m|ӆEnXi8ݖ6戶I$^"<{-htF ox֌}\zFä"qGzNa0\FPp@76'yJqax pjU;5M̅f(H/L$,!FY .EwSag]AYA(P"3i :] P ccS47mf" q晗9;0,e_ڒI i%>\SH Ie dD&)ދNڋ~2#LK)ʸim=̽\uq$E+p[{\B C9zJ:&^T3m_5({8y `9*) dmɥ,`ͱx§erZ&AEP6of7u;lm뎘3lBAZ+ S'jf#@" iZg pJi$,IJ;,̂]O҇(!17TT!ꮛDa-yyAp6<%/W:O+BLw Q}2;5!l-:Ļ]w2y(%NU ]/8mtiuhR=PbF;c S` ڤ}Kdڊ ZPP vpMID ȯZ](~ց[Y?{Dh(Igb)zX$w.i@jN`Gv5d__;n]p^oˉ*+ +̽&+:L!`1&X?pIh:ՙ&Ph3s]s8]U]ܰj)X36:/ېxnh)%iGLm\a*Xl,k'\J¯0%M4\ґ6r6czXm,^ {N6SS#(#~2QЯ0|5 V`HFro3'AOJaZ&'Dz+h\RR\- wX9X[XxY/EQ{2V0:ui,~U# x"T5E .p!:nƝ*-@Z8? ~{DyR+<=k;7awì0 p+Akfd, ٘a1Ֆb\o cv%<׉LY;̧aB d t˦ mwne.a}pz\tܺۺwl DT3X M)$ q=6g1kE2\V`h^jF3`wY aለ %HEBLǘN`6A8ጂ{r^jf!1[-~/ ^ab녂*" ;$!3CKqF=~ wR3s 1`DFXCE34u)?7FN0}$ ɕkEA̞f᩺.)F6tڅ =RP:Y;=sst5JwP(!Zڮ`W( 3gžir[h)_'qޅuٝBsux+(ӂHf;"_\Rk5QDHی,6+49M(EH7O41qz~ ~.uf/gWo)>ȿUNɮfq^&śp/QJ;xOoakxԠV nc";5"ijg>R=cFoakB jB B*FJ&@E٨8̝)s`6IDtstiۉ滹H*fˉXBQpʛ-8=h)+19}B553xb<i W M`MϒZ(u,FMz-dgX[6{ᣅߌR_udyh-nHۅXgkQ36Cuz`j!P=_v!eDL+ܫnsƚ0'$s8hy 0>4^W8m a)& T_7aMt;XʂG n7ŌY(3'jlG#D(liqƎdwxk±xl9@u=hGgo&ʂ51=PMPOOmU+6d`o}Y{:EM%k~ŧ<&ljf,a1c&#;y*&" 6fp^O~?HX0^nUBlȤŒ󰭮@=CPܰpWVK`l>Hæ)_T#27c*DkBa/, @b9L:D'o:Ќ ̣Q0-0ǿ}<6X?q:KP>]Sp6kwGK_&&JqCbl#X7YpƌF1b xQPnH)QjT%g~ƌ/5Za7L^~k o_RsĞimD޻D7 m^2"cPMKJtif<qSXjɬɹJ3= Շckr.s@t>iDեrTݪGۍn@Nt t3r&D)w953 .w uB¹126Kamlj\ᣗǒt 2AkPi `*t ՗˽-.XuLOFF 6YxhzBo0'&dzЖ+|o_?aP$rkܱ{wU3m [y D`&2!\3ATa-@BXn9VzЇD~+NBجbvQdtĜ ,' # Ў,\4 nXk77 v6Ζf1X=}땈9WUmf~Q%og%v!1[PjZσMC1R#2d::HWo,شUJV~l4qiAA>f07kt$B ѠxX<̓SeD̬)+LCH /[cb%bRPgf"/{6> Ir>ۃDaPSXiYT@t9`Qq) O 3 "В?wܫDp\{r-LI%'pkʹTTW"$><+ Fٳg;%h' i;Rxot'ޢyG fB,)""Y–T"PK~#Q@PcF{mكК8 2%(/X}ɩ]wQrEd pKH˜;A:VinUm ?iEZ&lBݞ1f>ϿI*g b*R#H5* 8yٴ zfvu4{q- XHqs;|ecDkXXoAto`vG6 1/,Qd@*M:j_sXqGvlKEĮvOՠ &`30>aXVx"k&-ق#e0w0+0}\/LI Vű>)9ؑ);qVWp~؅u+fcA-\S< _â@ T! +69e+&x˝ 5`WpئbؾrlBI7֙Oc].RL1~3\0O1/31{Dbj@8JZϾ8w[&$7,F!t xk\zs>n܄J{̴8^HnbҊ iIDqJp Մ.1Jd5! ZCN$i\_G~T*⣈[`Qg"3`d_rQFvTֹȿmpl&^o/UuA2ͷtj~2.HS=7-<: R~v\ԝZBdeI._Då e0w.n6fdxcSlfa2lE͐au!ig9v2u{W;R+Z**nѨ/ &rf<|̊;! ӄDj iYAEP.¥`'{[4^@F%JI ;ݑp]}uH)֌2)T#0.amLNB#%V6=PD zhx.BNE9)EctUrgDbPX*uIHFRZ.qz=j54&Ja"!/h{#sьXK8Eg $7mP ȒZ&&m6$@)?>I`UK" 5dFf]MM=k4uaOeUcDSӠR0F$:A*1,RRH̨x }AhR,jRY3,ԠRԨrFyS=*` HzL;Oe"Y˹RZ6FQ$B~vCBA<ҐD$Vn1S;eB;>~,$Ϋ@P; 9GٷJpik%EsޤqsK=7|)d^qysEP%٤' m,/%9g )bdQü"59.EyM.#@ w R8DH#Ƥ XyQJCX:XJǫ9+dlb+in<&eYC ([Di6:&,OOf]4,^@>ލEɘoG-f.\+Gb yK\\Dz#(ʡ/w@hI3\iUt4PS\?9@ }WRa)7K 4r+0;\ !˹;GJƩ7X(X{ yޕb|Ma{U<8VН(:<MYY{œ{v"ݼ'7Un8s7cKԘ!-ǷfPLTLF\+Kwscu=f.\EO,߼L31=x4'9`JJ"7 d<(\y,)XNhN9$)i'א`"LM#ҚwR$gxPC\Br0!ro Rr"yT198& (ho%(J mG0B_r K0B`d̹ ]Hp{M!knL!`@W0o+ZO9m NC c]g3Ect%^9GV +K8oVw39^xOqAk'?TXpO}{v'<;y>u>Ww,E\sP}\/c?uްn$'Cg<4&O[;'¨=~'1z׍ޠq'MB당Rk#|B%7A>\Ԝ֔i#gT' 4CPߧ;|N LYY2CR%. &::ZoCE붣G1Sot7Ԙg@t"2=&La.D nh3$$TP;:?KI3y)L;xwAgүv; H-IH"->uL z ߇xمG hzNV%PWwLD$M.~jG>= ͑E3]3S!e9I]挆jfNs#kg]E;jN%#*ٽAՅR43? Q7!zc Kkm3^p5-{2N *%a椢y' I%}^{< KJFY|֊tT= $Aۛ#4r"K"xTiNjcnd\n#[ABEx"&-łƩr*laضCa͜뤦/kEO3i`[0c42H6|I!1ZPPlb_jĬngekq]Zl[ɶ{H^1& B}ol?{_+?ïԨ]8,¬0k|n"Km4",Wł*M>܋Ui6|bVq~Jg? ߘ8!AonA@hf29)9jfٔO8ZȚEai Ř6nde&LfO׬[q&j!5aVM]LhxՔM~5u,ʯб8TcrOX0j?Z(ؖ=!$Ị5SMVDp[K' 7bjlcZl܎MȮX)_vc/^vSqB g[7#xDPi$ah-;#t)f}oe.=VN-86"9c&.dO0+8 4=J\_ABAEAQi'б*BA 60 k椀{ߌ,6+49M؋Ln瑼oWG |r/NPլ֍vGq؎bQHεcr0ۮ' H\iGÁXjAf.05J%bZXsBG &fҨf,Qn-}LoЋ#.6s3ﵡE~b,Lp{:S r]yPaz\:T{r&i qC'%HLD",ӱ>hAF#C6g=LoAfFLB ՚}lNH8hQfҴ0x;K+~3/:Qכᚰ7Y"`.bVcɘKIp^$wx`>۽[` ^޵ Ķ'/AJ_(2<΅)ܫͨ>+JBJ:=-~ B><ۘ;BQ*!0 ~Xm-W#1n6&TQұt|m\h1 ,HD< 3N7BDҥx+Jlso*L4f>!61y,***O2Ƅ4n= @6sKib5guXhvI/S z+ )[OM(==fm:V{ߊLS|b!\;PT4=bZ.`;ɸHXDFم)TW쀵aNH> p50suKS(AbXVCc2_*Iyc hV@j̗Rtyϳ؛kjy9H}TOhu !kŗbaM^rK|Hb:'bշYN #%[Ӵ^a׭Afn℘," VE<g;.;.ۿIqtM =UH9Sk _:,nk??\<ЙkL0c) Ѯ}>.AP-ƞ" |߰2֦~G:b)6@1/D8C|D&»|R^VaNr>5 0۱ n>X=[j, OsO {%vO(뗛">^\?3|gBg|d\+0 x%s|Q⃵֓S/z&Mdt.R0IZ?Ic1 )dr& A/#:hޞVL9}u<|v%;Bv ,f\eKC̜lF 8 3"!gA=Ӄ'@G0!7vcԿ?U҅S׸H %iNJP= ȿކn Ul;lܐu_E52wjVŰ)20ͭ|WUNH821\ afNX9`3_#zH #Ԡm,. 7]xL8FOMM0s -fGd߉Ap~1:4ہUH xg* a|l,MgD^;Ď*5`?u{̼F2lΖH^ȈYdcfE,CY{YhMصoOLֈ rrd2oP3\ ٌu"'nFjFlUB8*cז705*_};wu'; H|҅4<(AO5i-N4߮Fjl_b K:=`6 }U Z (TܩC\V 1۪Ȝ ZM@dzV@qt!P#mj:97`kz(wbp?4a3RVcS|0Jc监-:T `ţqI ,[JOGH*,f˙pmMU;L^b-aش;}PԌͰb\F/ڐ_nI;؞z7,p֗gUgJaڒ  F &[:6t2Kb׫v. 95Kg|- jUl Ķ@_E^9} (Z5p/ 0%(s47[aml qo&Gl`N{)/܎ųކyf$b>j% Vs _6ȎdN;f7f#"h9L6`-HC%q5Bg`CFX<2/Qq"W-i>&Aݎ1&yBEt'.-L`WY,!`E/ ZEǝv#)a`XN{)VX)2nr# CI ?|ECR9`}.-Xy,%9C#w gfnPm(;ݥ9hnNl6[o/*4'j"e5ϿhEI;.1QS f3/STkƳ&\~M6L_66bOP+ ^"}Y =ŴH.IHCn,,B 35MfNF'_PfqZ|iDʄ4(T,A::o&ӟ(H+B#df'j|\ֳRҹ^px|gRvR uX@Xyrd$i V9[ҷҼXX !OSp(Z gP/VҚ@B;RxW*,# jfBRS8a1zG)eԜz[W#dBtڨLSLQ46ZQ`)35%5|A/eBg:FP/+eRUR@/A-ʨi,,Ĉ`Au}^ M_N t5Ec6Ԕ,T]+$˩#sPs qĢ.ଟQ Y^+k=p_Z\==@h VHjO_A `GuKW$ɟT`COXVgd1-&iaϧ}O]y"|+^s)aJJZkxqMrAydW9ϰ`\n/4ECV:1M'pMx]\Wk%ifI<Gi 2=rR8*PuAXAbj[1#e̍KY4x֥|9gN)>h6ع4͜,B\-?G GY*=gANQNj#JAy.9"?>e-NK8%0> TxJy媕ů~O4u4>?QК a0?.)g,%g2` 2"/,Jv;$^$(ܓ~.^x1#Y{j\6]&WI/\tj%/k ,xImqʝ_)XxkXmN)n,c ڥ\On MEJ7.%Ka7D2ۏ\!VCqwOaf(nh8)߳R_RӝX7߫blCn&a`J %&Wd \z"xKŏ qظchrܘ>;Wj5(լ y􆚌Z7h`rpOPWpN2ywJACS4heR>+$y]{r XOI7p*)%V736wƐN\iI Xxux#ST O䩔`Żx2hRˍL<'Wѷ1^T%ޑA"7D(mXfޕfC9IENDB`j 666666666vvvvvvvvv666666>6666666666666666666666666666666666666666666666666hH6666666666666666666666666666666666666666666666666666666666666666662 0@P`p2( 0@P`p 0@P`p 0@P`p 0@P`p 0@P`p 0@P`p8XV~ OJPJQJ_HmH nH sH tH N`N sNormal dCJPJ_HaJmH sH tH l@l '= Heading 1ddd@&[$\$&5CJ0KH$OJPJQJ\aJ0nHtH\@\ LZ Heading 2$<@& 56CJOJQJ\]^JaJh@2h '= Heading 3ddd@&[$\$"5CJOJPJQJ\aJnHtHh@Bh '= Heading 4ddd@&[$\$"5CJOJPJQJ\aJnHtHDA`D Default Paragraph FontRi@R  Table Normal4 l4a (k (No List @@ G+List Paragraph ^t@t ' Table Grid7:V0 d4U`4 = Hyperlink >*ph ! '=name(1( '=postbody*W`A* uStrong5\d^@Rd LZ Normal (Web)ddd[$\$CJOJPJQJaJnHtH4@b4 |.:0Header  !4 @r4 |.:0Footer  !.)@. |.: Page Number:o: t0 Header Char CJPJaJR@R t0 Balloon Text dCJOJQJ^JaJRoR t0Balloon Text CharCJOJPJQJ^JaJ:o: t0 Footer Char CJPJaJPK![Content_Types].xmlN0EH-J@%ǎǢ|ș$زULTB l,3;rØJB+$G]7O٭V$ !)O^rC$y@/yH*񄴽)޵߻UDb`}"qۋJחX^)I`nEp)liV[]1M<OP6r=zgbIguSebORD۫qu gZo~ٺlAplxpT0+[}`jzAV2Fi@qv֬5\|ʜ̭NleXdsjcs7f W+Ն7`g ȘJj|h(KD- dXiJ؇(x$( :;˹! I_TS 1?E??ZBΪmU/?~xY'y5g&΋/ɋ>GMGeD3Vq%'#q$8K)fw9:ĵ x}rxwr:\TZaG*y8IjbRc|XŻǿI u3KGnD1NIBs RuK>V.EL+M2#'fi ~V vl{u8zH *:(W☕ ~JTe\O*tHGHY}KNP*ݾ˦TѼ9/#A7qZ$*c?qUnwN%Oi4 =3N)cbJ uV4(Tn 7_?m-ٛ{UBwznʜ"Z xJZp; {/<P;,)''KQk5qpN8KGbe Sd̛\17 pa>SR! 3K4'+rzQ TTIIvt]Kc⫲K#v5+|D~O@%\w_nN[L9KqgVhn R!y+Un;*&/HrT >>\ t=.Tġ S; Z~!P9giCڧ!# B,;X=ۻ,I2UWV9$lk=Aj;{AP79|s*Y;̠[MCۿhf]o{oY=1kyVV5E8Vk+֜\80X4D)!!?*|fv u"xA@T_q64)kڬuV7 t '%;i9s9x,ڎ-45xd8?ǘd/Y|t &LILJ`& -Gt/PK! ѐ'theme/theme/_rels/themeManager.xml.relsM 0wooӺ&݈Э5 6?$Q ,.aic21h:qm@RN;d`o7gK(M&$R(.1r'JЊT8V"AȻHu}|$b{P8g/]QAsم(#L[PK-![Content_Types].xmlPK-!֧6 0_rels/.relsPK-!kytheme/theme/themeManager.xmlPK-!0C)theme/theme/theme1.xmlPK-! ѐ' theme/theme/_rels/themeManager.xml.relsPK] - {...1 [)$;)f.3;6= BJ)P4\_dMlnxރzs[:ijPRSTUVXYZ[\ghilsyz{}[7w88&9L9u9992:=kOO*P QZV[[3\s\\\N]]k~ёّjQW]^_`abcdefjkmnopqrtuvwx|~ov}NUZ Yg+~{ |!|x|y|z|~exnÄXXXXXXXXXCXXXX{'*1!X!8@0(  B S  ?>E..BBqG_;H PIcLrO fYtpY]]MU^_/_5a^Za+cHlcg<~h`v!xu@x'z^3{Mu nJ8@';r |Lq)Kc~#v:8%bBy4RoPJ~G=8<iQt~g9x_LZ(7a֔ؔ@  (h@hh@Unknown G*Ax Times New Roman5Symbol3. *Cx Arial;(SimSun[SO7.@ Calibri7@Cambria5. .[`)Tahoma?= *Cx Courier New;WingdingsA$BCambria Math"h.FaRG 6~L6~LA42Z?^3{2! xx lInvestor s Guide to Special Situations in the Stock Market by Maurece Schiller (1966) Chapter on Stub Stocks John A. Chewjohn  Oh+'04@L\ lx   pInvestors Guide to Special Situations in the Stock Market by Maurece Schiller (1966) Chapter on Stub StocksJohn A. ChewNormaljohn3Microsoft Office Word@d@TΛ@or6~՜.+,D՜.+,H hp  *Hewlett-PackardL VInvestors Guide to Special Situations in the Stock Market by Maurece Schiller (1966) Title 8@ _PID_HLINKSA\Tt'Uhttp://www.sec.gov/Archives/edgar/data/1125536/000114420409050016/v161040_pre14c.htmTT$%http://www.google.com/finance?q=cnvr`(!Thttp://bertfresno.wordpress.com/2008/10/07/greenlight-capitals-letter-to-investors/ .?http://bertfresno.wordpress.com/2008/10/13/porsche-stub-stock/$t4http://value-investing-forum.com/viewtopic.php?t=56N .http://en.wikipedia.org/wiki/Stub_%28stock%29 cite_note-09t+http://en.wikipedia.org/wiki/RestructuringR&http://en.wikipedia.org/wiki/DemergerD] &http://en.wikipedia.org/wiki/Spin-out/q $http://en.wikipedia.org/wiki/BuyoutC)http://en.wikipedia.org/wiki/CorporationHg4http://en.wikipedia.org/wiki/Shareholders%27_equity"h#http://en.wikipedia.org/wiki/StockWG&http://www.csinvesting.wordpress.com/  !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !#$%&'()0Root Entry Fr2Data 1Table/WordDocument>SummaryInformation(DocumentSummaryInformation8"CompObjr  F Microsoft Word 97-2003 Document MSWordDocWord.Document.89q