-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LnXLasbJtyU80AtqZ53VAyBwB/L2prohFSdmCyDt7PfsG36iYwq7u1t7iXh1jZME PJoX65Ezkz6Kdq6uNGqq9A== 0001341004-08-001640.txt : 20080721 0001341004-08-001640.hdr.sgml : 20080721 20080721075049 ACCESSION NUMBER: 0001341004-08-001640 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20080721 DATE AS OF CHANGE: 20080721 GROUP MEMBERS: LPCO INVESTMENTS S.A.R.L. GROUP MEMBERS: LS POWER PARTNERS II, L.P. GROUP MEMBERS: LS POWER PARTNERS, L.P. GROUP MEMBERS: LSP PENN HOLDINGS II, LLC GROUP MEMBERS: LSP PENN HOLDINGS, LLC GROUP MEMBERS: LTAC SPV I, LLC GROUP MEMBERS: LUMINUS ASSET PARTNERS, L.P. GROUP MEMBERS: LUMINUS ENERGY PARTNERS MASTER FUND, LTD. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: TRANSALTA CORP CENTRAL INDEX KEY: 0001144800 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-79749 FILM NUMBER: 08960328 BUSINESS ADDRESS: STREET 1: 110 12TH AVE SW BOX 1900 STATION M STREET 2: CALGARY ALBERTA T2P 2MI CITY: CALGARY STATE: A0 ZIP: T2P2M1 BUSINESS PHONE: 2128948400 MAIL ADDRESS: STREET 1: 110-12TH AVENUE SW CITY: CALGARY ALBERTA CANADA STATE: A0 ZIP: T2P2M1 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: LUMINUS MANAGEMENT LLC CENTRAL INDEX KEY: 0001279151 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 1700 BROADWAY STREET 2: 35TH FL CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 2126153450 MAIL ADDRESS: STREET 1: 1700 BROADWAY STREET 2: 35TH FL CITY: NEW YORK STATE: NY ZIP: 10019 SC 13D/A 1 lspower13da.htm SCHEDULE 13D/A - AMENDMENT 11 lspower13da.htm
 
 
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

SCHEDULE 13D
(Amendment No. 11)*

Under the Securities Exchange Act of 1934

TransAlta Corporation
(Name of Issuer)
 
Common Shares, no par value
(Title of Class of Securities)
 
89346D107
(CUSIP Number)
 
Sheldon S. Adler
Skadden, Arps, Slate, Meagher & Flom LLP
4 Times Square
New York, New York 10036
(212) 735-3000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
 
July 21, 2008
(Date of Event Which Requires Filing of this Statement)


If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. [  ]
 
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Section 240.13d-7 for other parties to whom copies are to be sent.
 
(Continued on followings pages)

(Page 1 of 15 Pages)

________________________________
 
*   The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
     The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liabilities of that section of the Exchange Act but shall be subject to all other provisions of the Exchange Act (however, see the Notes).
 
 

 
 
 
  CUSIP No. 89346D107
13D
Page 2 of 15 Pages
 
 

1.
Names of Reporting Persons
 
LSP Penn Holdings, LLC
 
2.
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a) [X]
(b) [   ]
3.
SEC USE ONLY
 
4.
Source of Funds (See Instructions)
 
WC
5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
 
[   ]
6.
Citizenship or Place of Organization
 
Delaware
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person with
7.
Sole Voting Power
0
8.
Shared Voting Power
17,915,800
9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
17,915,800
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
17,915,800
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
 
[   ]
13.
Percent of Class Represented by Amount in Row (11)
 
9.0%
14.
Type of Reporting Person (See Instructions)
 
OO

 
 

 
 
 
  CUSIP No. 89346D107
13D
Page 3 of 15 Pages
 
 

1.
Names of Reporting Persons
 
LSP Penn Holdings II, LLC
 
2.
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a) [X]
(b) [   ]
3.
SEC USE ONLY
 
4.
Source of Funds (See Instructions)
 
WC
5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
 
[   ]
6.
Citizenship or Place of Organization
 
Delaware
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person with
7.
Sole Voting Power
0
8.
Shared Voting Power
17,915,800
9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
17,915,800
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
17,915,800
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
 
[   ]
13.
Percent of Class Represented by Amount in Row (11)
 
9.0%
14.
Type of Reporting Person (See Instructions)
 
OO

 
 

 
 
 
  CUSIP No. 89346D107
13D
Page 4 of 15 Pages
 
 

1.
Names of Reporting Persons
 
LS Power Partners, L.P.
 
2.
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a) [X]
(b) [   ]
3.
SEC USE ONLY
 
4.
Source of Funds (See Instructions)
 
AF
5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
 
[   ]
6.
Citizenship or Place of Organization
 
Delaware
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person with
7.
Sole Voting Power
0
8.
Shared Voting Power
17,915,800
9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
17,915,800
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
17,915,800
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
 
[   ]
13.
Percent of Class Represented by Amount in Row (11)
 
9.0%
14.
Type of Reporting Person (See Instructions)
 
PN
 
 
 

 
 
 
  CUSIP No. 89346D107
13D
Page 5 of 15 Pages
 
 

1.
Names of Reporting Persons
 
LS Power Partners II, L.P.
 
2.
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a) [X]
(b) [   ]
3.
SEC USE ONLY
 
4.
Source of Funds (See Instructions)
 
AF
5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
 
[   ]
6.
Citizenship or Place of Organization
 
Delaware
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person with
7.
Sole Voting Power
0
8.
Shared Voting Power
17,915,800
9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
17,915,800
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
17,915,800
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
 
[   ]
13.
Percent of Class Represented by Amount in Row (11)
 
9.0%
14.
Type of Reporting Person (See Instructions)
 
PN

 
 

 
 
 
  CUSIP No. 89346D107
13D
Page 6 of 15 Pages
 
 

1.
Names of Reporting Persons
 
Luminus Management, LLC
 
2.
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a) [X]
(b) [   ]
3.
SEC USE ONLY
 
4.
Source of Funds (See Instructions)
 
AF
5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
 
[   ]
6.
Citizenship or Place of Organization
 
Delaware
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person with
7.
Sole Voting Power
0
8.
Shared Voting Power
17,915,800
9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
17,915,800
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
17,915,800
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
 
[   ]
13.
Percent of Class Represented by Amount in Row (11)
 
9.0%
14.
Type of Reporting Person (See Instructions)
 
OO

 
 

 
 
 
  CUSIP No. 89346D107
13D
Page 7 of 15 Pages
 
 

1.
Names of Reporting Persons
 
Luminus Asset Partners, L.P.
 
2.
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a) [X]
(b) [   ]
3.
SEC USE ONLY
 
4.
Source of Funds (See Instructions)
 
WC
5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
 
[   ]
6.
Citizenship or Place of Organization
 
Delaware
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person with
7.
Sole Voting Power
0
8.
Shared Voting Power
17,915,800
9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
17,915,800
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
17,915,800
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
 
[   ]
13.
Percent of Class Represented by Amount in Row (11)
 
9.0%
14.
Type of Reporting Person (See Instructions)
 
PN
 
 
 

 
 
 
  CUSIP No. 89346D107
13D
Page 8 of 15 Pages
 
 

1.
Names of Reporting Persons
 
Luminus Energy Partners Master Fund, Ltd.
 
2.
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a) [X]
(b) [   ]
3.
SEC USE ONLY
 
4.
Source of Funds (See Instructions)
 
WC
5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
 
[   ]
6.
Citizenship or Place of Organization
 
Bermuda
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person with
7.
Sole Voting Power
0
8.
Shared Voting Power
17,915,800
9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
17,915,800
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
17,915,800
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
 
[   ]
13.
Percent of Class Represented by Amount in Row (11)
 
9.0%
14.
Type of Reporting Person (See Instructions)
 
OO
 
 
 

 

 
  CUSIP No. 89346D107
13D
Page 9 of 15 Pages
 
 

1.
Names of Reporting Persons
 
LPCO Investments S.a.r.l.
 
2.
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a) [X]
(b) [   ]
3.
SEC USE ONLY
 
4.
Source of Funds (See Instructions)
 
AF
5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
 
[   ]
6.
Citizenship or Place of Organization
 
Luxembourg
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person with
7.
Sole Voting Power
0
8.
Shared Voting Power
17,915,800
9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
17,915,800
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
17,915,800
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
 
[   ]
13.
Percent of Class Represented by Amount in Row (11)
 
9.0%
14.
Type of Reporting Person (See Instructions)
 
OO

 
 

 
 
 
  CUSIP No. 89346D107
13D
Page 10 of 15 Pages
 
 

1.
Names of Reporting Persons
 
LTAC SPV I, LLC
 
2.
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a) [X]
(b) [   ]
3.
SEC USE ONLY
 
4.
Source of Funds (See Instructions)
 
WC
5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
 
[   ]
6.
Citizenship or Place of Organization
 
Delaware
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person with
7.
Sole Voting Power
0
8.
Shared Voting Power
17,915,800
9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
17,915,800
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
17,915,800
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
 
[   ]
13.
Percent of Class Represented by Amount in Row (11)
 
9.0%
14.
Type of Reporting Person (See Instructions)
 
OO

 
 

 
 
 
  CUSIP No. 89346D107
13D
Page 11 of 15 Pages

 
This Amendment No. 11 (this "Amendment") amends and supplements the Schedule 13D initially filed on July 6, 2007 (the "Original Filing") and subsequently amended by the Reporting Persons relating to the Common Shares, no par value (the "Shares"), of TransAlta Corporation, a corporation incorporated under the Canada Business Corporations Act (the "Issuer"). Information reported in the Original Filing remains in effect except to the extent that it is amended, restated or superseded by information contained in this Amendment or any previously filed amendments. Capitalized terms used but not defined in this Amendment have the respective meanings set forth in the Original Filing.
 
Item 4.
Purpose of Transaction.
   
 
Item 4 is hereby amended and supplemented as follows:

In the course of the past several weeks, representatives of the Reporting Persons have had discussions with representatives of the Issuer regarding certain strategic alternatives available to the Issuer, including the possible exploration by the Reporting Persons of an acquisition.  On July 18, 2008, the Reporting Persons submitted a letter (the "Letter") from LS Power Equity Partners and Global Infrastructure Partners that included a proposal to the Issuer's Chief Executive Officer and Board of Directors to acquire all of the outstanding shares of Common Stock (the "Proposed Transaction") for a price per share of CDN $39.00 in an all-cash transaction.  The Proposed Transaction would be funded with approximately $6 billion of equity, and supplemented with a $2 billion debt facility from Credit Suisse.  The non-binding proposal is subject to, among other things, the satisfactory completion of confirmatory due diligence and no binding obligation on the part of the Reporting Persons will arise with respect to the Proposed Transaction unless and until a definitive acquisition agreement with the Issuer has been executed and delivered.  The Letter is attached hereto as Exhibit 7.12 and incorporated by reference herein.  The Reporting Persons anticipate engaging in communications with the Issuer's Board of Directors, management, shareholders, financial advisors, and/or other persons regarding the Proposed Transaction.
 
On July 21, 2008, a press release related to the Proposed Transaction was issued by the Reporting Persons. The press release is attached hereto as Exhibit 7.13 and incorporated by reference herein.
 
Item 6.
Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.
   
 
Item 6 is hereby amended and supplemented as follows:

The responses set forth in Item 4 of this Amendment are hereby incorporated by reference in response to Item 6 of this Amendment.
 
Item 7.
Material to Be Filed as Exhibits
   
 
Item 7 is hereby supplemented as follows:
   
 
Exhibit 7.12 Letter to the Board of Directors of TransAlta Corporation, dated July 18, 2008.
   
 
Exhibit 7.13 Press Release issued by LS Power Equity Partners, dated July 21, 2008.
 
 

 
 
 
  CUSIP No. 89346D107
13D
Page 12 of 15 Pages
 
SIGNATURE
 
  After reasonable inquiry and to the best of the knowledge and belief of the undersigned, the undersigned certifies that the information set forth herein is true, complete and correct.
 
Dated: July 21, 2008

 
 
LSP Penn Holdings, LLC
   
   
 
By:
/s/ Darpan Kapadia
 
Name:
Darpan Kapadia
 
Title:
Managing Director
   
   
 
LSP Penn Holdings II, LLC
   
   
 
By:
/s/ Darpan Kapadia
 
Name:
Darpan Kapadia
 
Title:
Managing Director
   
   
 
LS Power Partners, L.P.
   
   
 
By:
/s/ Darpan Kapadia
 
Name:
Darpan Kapadia
 
Title:
Managing Director
   
   
 
LS Power Partners II, L.P.
   
   
 
By:
/s/ Darpan Kapadia
 
Name:
Darpan Kapadia
 
Title:
Managing Director
   
   
 
Luminus Management, LLC
   
   
 
By:
/s/ Paul Segal
 
Name:
Paul Segal
 
Title:
President
 
 
 
 

 
 
 
  CUSIP No. 89346D107
13D
Page 13 of 15 Pages
 
 


   
 
Luminus Asset Partners, L.P.
   
   
 
By:
/s/ Paul Segal
 
Name:
Paul Segal
 
Title:
President
   
   
 
Luminus Energy Partners Master Fund, Ltd.
   
   
 
By:
/s/ Paul Segal
 
Name:
Paul Segal
 
Title:
Director
   
   
 
LPCO Investments S.à.r.l.
 
By:  Paul Segal, as attorney-in-fact
   
   
 
By:
/s/ Paul Segal
 
Name:
Paul Segal
   
   
 
LTAC SPV I, LLC
By:  Vega Energy GP, LLC, its managing member
   
   
 
By:
/s/ Paul Segal
 
Name:
Paul Segal
 
Title:
President

 
 
 

 
 
 
 
  CUSIP No. 89346D107
13D
Page 14 of 15 Pages
 
EXHIBIT INDEX


 Exhibit

 Number   Description

Exhibit 7.12 Letter to the Board of Directors of TransAlta Corporation, dated July 18, 2008.

Exhibit 7.13 Press Release issued by LS Power Equity Partners, dated July 21, 2008.
 
 
EX-99 2 exhibit7-12.htm EXHIBIT 7.12 - LETTER exhibit7-12.htm
Exhibit 7.12
 
 
 
 
 
LS Power Equity Partners

July 18, 2008


Dear Mr. Snyder:
 
As recently discussed with you, we have a great deal of respect for TransAlta Corporation, its Board of Directors and its management team and believe fully in the underlying value proposition of your business. LS Power Equity Partners (“LS Power”) has demonstrated the strength of its conviction by becoming your largest shareholder, holding 9% of the current shares outstanding.
 
While we are enthusiastic about TransAlta, we continue to believe that the TransAlta is undervalued and will not be fairly valued as a public company.  It is for that reason that we believe that your shareholders would be best served by an acquisition of TransAlta. To that end, we have evaluated a possible acquisition of TransAlta by LS Power and Global Infrastructure Partners (“GIP”) and are convinced that we can offer a proposal that presents compelling value to TransAlta shareholders. Our goal is to consummate a consensual, negotiated transaction that is supported by the TransAlta Board of Directors and management.  In this spirit, we ask the TransAlta Board of Directors to seriously consider this proposal and engage with us in a meaningful dialogue.
 
We propose that LS Power and GIP acquire all outstanding shares of TransAlta not currently owned by LS Power for a price per share of CDN $39.00 in an all-cash transaction, structured through a plan of arrangement.  This price represents a premium of approximately 21% to today’s closing share price and a premium to the 52-week (and all-time) high.  We believe that this offer represents a compelling opportunity for your shareholders to realize immediate and substantive value in an uncertain economic environment and that our proposal will be well received by other TransAlta stakeholders.
 
We are committed to maintaining TransAlta’s well deserved status as a corporate leader in the Albertan and Canadian business communities. This includes:
 
 
·
delivering on its capital investment strategy and environmental leadership for Alberta and Canada;
     
 
·
honoring TransAlta’s commitments to its customers, employees and retirees;
     
 
·
maintaining TransAlta’s headquarters and corporate infrastructure in Alberta; and
     
 
·
building on TransAlta’s outstanding legacy in the area of corporate philanthropy and community engagement.

1

We would hope the current management team would agree to continue to lead the Company.    We believe that in a private company structure, the Company and its leadership would have significant flexibility in making long-term investments and plans that benefit stakeholders.  In short, our aim would be to maintain TransAlta as a responsible, values-driven Canadian company that continues to demonstrate, as it has in the past, the same high regard for its employees, customers and the communities in which it operates.
 
Given our familiarity of TransAlta and its industry, we are prepared to work with you and your team to move expeditiously. We have completed due diligence based on publicly available information and would require only a short period of confirmatory due diligence to finalize our offer. We have already retained Credit Suisse to serve as our financial advisor and Stikeman Elliott and Skadden Arps to serve as our legal advisors. We and our advisors are willing to meet with you to answer your questions regarding any aspect of our proposal.  We are willing to sign an appropriate confidentiality agreement to expedite the diligence process.
 
The transaction would be funded with approximately $6 billion of equity.  We have reviewed this opportunity with our respective investment committees, each of which fully supports this transaction.
 
Our collective equity investment would be supplemented with a $2 billion debt facility provided by Credit Suisse, which will also provide a $1.5 billion backstop credit facility, if necessary, to refinance TransAlta’s existing commercial bank facility and the recently-issued $500 million of senior notes should the holders exercise their change of control put.  We would be happy to make representatives of Credit Suisse available to discuss the terms with you.
 
Importantly, the new $8 billion equity and debt financing that will fund the consideration being paid to your shareholders would not subordinate any of your existing debt or lenders.  In addition, our financing plan is designed so as to not affect the investment grade rating of TransAlta Utilities.  Also, we do not foresee any material regulatory issues in completing such a transaction.
 
LS Power is an integrated developer, manager and investor focused exclusively on the power and energy sector.  For almost two decades, LS Power has developed a significant portion of North America’s energy infrastructure, including over 7,000 MW of power generating capacity, and demonstrated a strong record of community partnership.
 
GIP is an independent $5.64 billion fund that invests in operating infrastructure companies and assets worldwide.  GIP, whose founding investors are Credit Suisse and General Electric, is a long-term investor that concentrates on the energy, transport and water and waste industry sectors with the goal of improving the service quality of the assets it invests in to benefit all stakeholders.
 
As you may know, we are required to file this letter publicly given our disclosure obligations under the U.S. securities laws.
 
2

Nothing in this letter is considered to be binding on TransAlta, LS Power or GIP and no binding obligations shall be created until all parties have executed definitive agreements.
 
We believe that this is a significant value-creating opportunity for TransAlta shareholders and that it will be favorably received by all parties.  We look forward to receiving a response at your earliest convenience and continuing our dialogue on this subject.
 
Sincerely,
 
 
/s/ James Bartlett
 
James Bartlett, President
LS Power Equity Partners
 

 
/s/ Adebayo Ogunlesi
 
Adebayo Ogunlesi, Chairman & Managing Partner
Global Infrastructure Partners

3



GRAPHIC 3 exhibit7-121.gif begin 644 exhibit7-121.gif M1TE&.#EA6@!?`/<``!L;_QT=_QX>_R`@_R(B_R0D_R8F_R@H_RHJ_RPL_RXN M_S`P_S(R_S0T_S8V_S@X_SHZ_SP\_SX^_T!`_T)"_T1$_T9&_TA(_TI*_TQ, M_TY._U!0_U)2_U14_U96_UA8_UI:_UQ<_UY>_V!@_V)B_V1D_V9F_VAH_VIJ M_VQL_VYN_W!P_W)R_W1T_W9V_WAX_WIZ_WQ\_WY^_X"`_X.#_X2$_X:&_XB( M_XJ*_XR,_XZ._Y"0_Y*2_Y24_Y:6_YB8_YJ:_YR<_YZ>_Z"@_Z*B_Z2D_Z:F M_ZBH_ZJJ_ZRL_ZZN_["P_[*R_[2T_[:V_[BX_[JZ_[R\_[Z^_\#`_\+"_\3$ M_\;&_\C(_\K*_\S,_\[._]#0_]+2_]34_];6_]C8_]K:_]S<_][>_^#@_^+B M_^3D_^;F_^CH_^KJ_^SL_^[N__#P__+R__3T__;V__CX__KZ__S\__[^_V8` MF68`S&8`_V8S`&8S,V8S9F8SF68SS&8S_V9F`&9F,V9F9F9FF69FS&9F_V:9 M`&:9,V:99F:9F6:9S&:9_V;,`&;,,V;,9F;,F6;,S&;,_V;_`&;_,V;_9F;_ MF6;_S&;__YD``)D`,YD`9ID`F9D`S)D`_YDS`)DS,YDS9IDSF9DSS)DS_YEF M`)EF,YEF9IEFF9EFS)EF_YF9`)F9,YF99IF9F9F9S)F9_YG,`)G,,YG,9IG, MF9G,S)G,_YG_`)G_,YG_9IG_F9G_S)G__\P``,P`,\P`9LP`F#;93`B-"``8,'#R!(6+D2`LH& M)278J)+QH\V;-^'T*+'`08,'((9$@4*TJ%$H48*@>,``I@HC.*-*)3@&1D\& M)7Z0D4J&AX8&$!C8J#FU[,8L)A8L^,!D:\$U5Y;$0"+G#8L:0*JX.:BE!3*=@0)&.$QH0"!A`<\#"PBH$%"0X82*`AAQ(U!'VD7("#\.`3 M#!:\6%,0#I8M7<",:;/&[4`X8\20$1,&3!D$W4!Y-] M8[9G0`]2O>'>7VRFY&8",0A$QGH@F@;!!/*MT4(..?S0`Y]\[N"##CW+@$81LH(,:-TT71P`(NEO4"`E($V(:- M',&!$Q(JE?^51`(W"*1&!BEXT`$'O/;:*P8J>'1!!!U-48!WR":+K`0.A"$0 M"1*<()4;"H@@D!D$P-043-QRNP`''I%0P046=%0%`FTZD&X#`'`AD)9!1&6" M`JX*!$<'`OPR(X8*_&3BP*4 M]1$&?=`R!@[4BYP(#IB(D`X*N"5!!"S=7@'N$APP1$=P1(!!!@\0(=`('UQ` MUQH/#']!!1ZU,(()U%=??0DMH"$'$A%\L!$#)`@D!+KIHJ3`#QY1<`'Q\<9! M4DH%7&I&`\-;`/)&;JB7^_X.>"]'!`XP`T*:P``F#&1?!4$@0C#0,@C`+`Q: MZ(($NX`%3$%@>!20#D?2D`.<>?"#/=B!0&H``1$>A`0-<(ZX,@`!&74$#0X8 MGDR0XX8&4``A"7`!:0!?$1#P9CMPQD<#`YB$`&GD>8&31@B4V\5!M2 MT)"&N.`$KM-(%R9'@1$(9`DVL,$."G>#81KNF(4;YD!>4#$+7,`C1Z!E0V+P M`A8`Z`D-B*-`=+``@3S!`.]I``*!BK@OSC\(`D0C2A$FU`% M)SR!"E/(J$:GT`2$BH!O$WB!61P`KH%`@))249\%-!`B#V`N`B:42@BZR9\% M<#$J#'00J!B8-:%Q)`E6Z((7Y$.#!I#S#`O`CD\,(-*.B,N9`BE=>]I)5:J" MA2#J.Z06.N*&=48``5L%P@/B)0?)D=4`"OAA1_IU@0D(Y`P(T))+P$A7NEKG M-A%8GP/.X!$(B,U91GA`#03BA01L`2<4NP`%%I:&-;2A#8H1J!R"))5\M4$" M%\``'7%2!0=PJ:P)6"+*+AB!7()*(&RX(+EP,@7/"J2HP4'H1BRI6:/_H6`$ M),BM;G?+V][Z=KLXZL!G`E&6M:QG&@"1LA($-:*,<9`#.NH;M_SYO?L\#U#7G!KC@B0'J[&?E MD`!"GK`":09)'-[0AKT4.LP$,2V("Q*$+0VD`>HUB`L@D+=%G[:H=),`!C12 M`24(1`Q6N(*H1TWJ4IM:U%1P@IHM+9`0,(`@*8"`N0:0@%K;^M:XSG6M#0"" MG['Z76X=2!`6X%Z-``<,R$ZVLI?-;&3;YM=R0`,#4BP0!YL9VK_FCA`(HH8% M1!K;$C:"#G@@`Q*$8`,F",$)>("#*LBV(*XT\D!.$&R/P,$'+$B``M(SJBIN MH`,KP+-4RO"$%5`@:1.(R+@R>P%R58`"MPM!B0O".H/T8`$?]@@:B'"$CAO! MC&5!P@K2,P$+#,]B*/]/N<7:RH`7N&X,)#6(&11`5G`?P002*+G*+9;3!YU< MY1"OR0\=!1(X0.:"`%RAP,&L(@@,HX/55'GP#-#C9&ZAPA1L`S`('@$`%,-`"(SQ7#F)( M00,P*Q`>/*#H`#?4(X!"CS@`ST8NQ.(,(0B%`$)2EC" M$IC`!.$GP0A$"`*`2L]D$H6X`;62PQ#\I6G4E44)&\A[RG=7`2-DV#E0>$#_ M4SG-@%)=,`,8@(@.8OP1,-@`06RW&*!E4$$Y:.'^^,^__O>O_RNPGP,,("$; M,48IQ@6&A'X5\``AP$3\``W$%E&8`'^($@ M&`$)4!-'\`#?IA$3T`"1-4=>IUA;YP#F=EMS]@#%87)MITJ;X@9(,`(%D`!T MYF9SIBY5=0")(Q#M(5H(\04+H$%R``5W$G\HUW`-MW,68P$/D`$G(V-AT`9O M``=>^(5P4!-="#D>L0(38`(VH0(,X#<"400;D%=42(6*=5(":&GHY0`.J!%N MP`!79'^"<04E\'3.)(<5(`$/$`)`(!!O0`/!U(B.__B(D!B)D-@"FX,[+F03 M/N``HQ,&`6`"6[4&3.`"'9`>3#-G(3`#5$!.3V`""="!(?B*L*@T#1`L`I$" M72<5'M``V#$&2A`#)Z`$\G8&8C",&4<&-@`#-%`#.+",S-B,SOB,T/B,RR40 M!L@`8W<3;@!H&0=N-X$2?A856;``T,.-45$"$7""49$$#6!<`VVL$"N&,:*.``:"@0 M:5%5:U)70BAG;@*$ZY(!`R$#2C-W@Q$"#S`ZJ6%`@#1APQ0B8`(O@`)6YP(P8`'O J,V<58`+P&9\?L093(`0Q<`%QID;X*03;2*!3(0;,]@7H":$66A8!`0`[ ` end GRAPHIC 4 exhibit7-121.jpg begin 644 exhibit7-121.jpg M_]C_X``02D9)1@`!`0$`8`!@``#_X0!F17AI9@``24DJ``@````$`!H!!0`! M````/@```!L!!0`!````1@```"@!`P`!`````@`!`3$!`@`0````3@`````` M``!@`````0```&`````!````4&%I;G0N3D54('8T+C`P`/_;`$,``@$!`0$! M`@$!`0("`@("!`,"`@("!00$`P0&!08&!@4&!@8'"0@&!PD'!@8("P@)"@H* M"@H&"`L,"PH,"0H*"O_;`$,!`@("`@("!0,#!0H'!@<*"@H*"@H*"@H*"@H* M"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"O_``!$(`$@! M"P,!(@`"$0$#$0'_Q``?```!!0$!`0$!`0```````````0(#!`4&!P@)"@O_ MQ`"U$``"`0,#`@0#!04$!````7T!`@,`!!$%$B$Q008346$'(G$4,H&1H0@C M0K'!%5+1\"0S8G*""0H6%Q@9&B4F)R@I*C0U-CH.$A8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJ MLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7V-G:X>+CY.7FY^CIZO'R\_3U]O?X M^?K_Q``?`0`#`0$!`0$!`0$!`````````0(#!`4&!P@)"@O_Q`"U$0`"`0($ M!`,$!P4$!``!`G<``0(#$00%(3$&$D%1!V%Q$R(R@0@40I&AL<$)(S-2\!5B M7J"@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>X MN;K"P\3%QL?(RKR\_3U]O?X^?K_V@`,`P$` M`A$#$0`_`/W\HHHH`*\O_:T_;(_9Y_8A^&(^+7[1OCR+1-*EO8[2S18FFN;N M9R!LAA3+R%5R[8'RJI)JI^VK^VI\#_V#O@=?_''XX:\(;:`&+2=)MV!N]7NR MI*6UNA/S,<9)/RHH+,0!7\S7[?7[?/QP_P""A?QRNOC#\8-2\FUAWP>&_#=M M*3::-:%LB&('[S'`+R$;G;DX`55^CR#(*N;U>>?NTEN^_DOU?0\+.R[>;_P`NI_59X(\;^$/B5X0TWQ_X`\26>L:)K%G'=Z7JFGSB6&ZA<95T M9>""#6F[I&ADD<*JC+,QP`/6OYR?^",7_!9KQ;^P'XO@^#'QGOKS5_A%K%YF MX@&99O#DSGYKNV7J8B3F6$=>74;\A_TA_;Q_X*3Z7\7=);X5?LV>*DN/#%Y` M#JGB>PEXU1&&?*@8?\L<'YF_CZ#Y<[EC>&\;A,=['>#VETMY^?E^@87/L+B, M'[5Z26\>M_\`+S/MSX2_M)?!GXXZWK?A[X9^-;;4KO0+HPWT49QN'`\V//\` MK(MV5WKQD>A!/=5^(?PN^*'C;X->.+'XA_#S6Y+#4["3=%*ARKK_`!1NO1T8 M<%3P17ZN_L@_M>^"/VK?`XU+3C'8>(;"-1KFAM)EH6Z>;'GEXF/0]0>#SR>7 M,LJE@_?AK'\O4ZOT445XYZ@45\:?\%+?B)\8_B9^TC\#?\` M@FY\$_BOK/@)?BW-K>M?$+QIX8N1!JMAXF?\`!.'XL?LB?''X>?%/]@;XV>-)_#[^)([#XP?#_P")?Q+U+6M-U;1) M4<2ZC;&_>XD@U""01N@B*)*"R-M7.0#[/HKX_P!)\?>.7_X+X:W\+W\9:J?# M4?[(VG:I'X>.H2?8EOF\3WD370@SL$QC54,F-Q50,X&*ZW_@K-^U)\2OV2OV M)]=\=_`[[*/'_B'6=)\)^`I+V(/#!JVJWT-C#.RG(81>*?@5^SCKOQX_9T_;2^-S_'OPEX>GUNV\<>(OB9J-_:>)-0MH M3.UK?:7-*UD;2=D,?E)$OEJZX)V\^?\`[=7[3^F?M?\`[-'["GQ,M/M_#`L9Y)=7F M,\LYTZ6"=+<1R!X_-,A3##(KU[_@KK*K^XB\96?P]O\`2/%[M,1<0:]IB36-\S'JKFYMI''?Y@?> MM'_@B_XR\7_$/_@E1\!?&_C[Q3J.MZUJGPXL+C4M7U>]>YN;N5E.Z2260EG8 M]R230!].4444`%%%%`!1110`4444`%%%%`!1110`4444`%>3?MH?MH?!#]A+ MX'ZA\'PSX9MIB;31K0G(BC!QN4C<[#L`JK]F?\$8/^"$ M3?M6:*O[3?[8VDW^F_#RXM9/^$9T!9GMKK7"RE1=LXPT5LN=R$8,K`'[@^>S M_P`$._\`@A_<_M&7>F_M>_M=>&GM_A[;2"X\+^&+U"C>(W4Y$\P/(LP1D#_E ML1_!"` M,,P^]C:/ESN^JS/-'%K+?=_KJOG,!@%*+Q^/UOJHO>3[OR_ MK;?\2?V^OV0K/]D3X^:YX&\"^-/^$L\&QZC)'X>\4Q186X0<^5)CY?,3E2R_ M*^W#]0OHX[J\>)I3I`=P&N%1)3XGBCT6.YNFM[D3KKL#+O\`M=N5R-V#_JUX*@`? M,,-\H?"[XH>._@IX[LO'_@#69=/U33Y%_\$7?^"T' MBC]@WQ5;_`WXY:C=ZK\(]6N_F7YI9O#A+X9/9^3_K\#Z&E*AF%#ZQA%:!1K&D,ECKMBBKKFA MM)E[=S_&F>6B8]&[=#R*^=S3*Y827M*>L'^'_`/?LL_MJ_L\_P#!2K7]"U"[^'G@B#Q%X/\`BK?Z98R7,FA:=J\-NUKJCQQ@ MO]GANK55F8`[5F!P<5\N_P#!0[]JO]B'QW^UG\#?B5^PU^V'XP\8?$'QC^T3 MX&3Q?;>`OBCJM[X>TW0&O[:UF%W:0SFQMEF;[/$(RJM(TCG!RY/Z+_MS_M=# M]D+PW\.=4?P!'XA3XA?&/PYX"E@EO?)%HNJW!@-U]QO,\O&?+XW=-PKP_P#X M*1?\%(OA[_P2Q^*OPJ\$6_[*5CK/A7QX^IZMXXUW0Q%;/X9TW3KC38Y]3-ND M)^U"(:@)6P595A9L]2/&/6.&^.7[6/[-7[(W_!P+J'C/]ISXW>'/`NE:G^Q_ MIEEI^H>)=22UBN+C_A*+]_*1F."VU6;'H#6W_P`%$OC'\'?^"EG["/BG5_\` M@G;\6O#?Q;\7?!WQAX9\.-7U76?'(T"-+>74 MKFP$(5+.;S&5H0V21Q(>..0#D_VB/^"WW[#/C3]D'7I_V"OA-I$#R>([C6[F%H8;*>P`\VW*2N/-:10J*C')XS\_\`[;GP,^#G[%O[ M('_!.[X!?MEW?A@^%/`?Q*TC3OB%-XI2*72=\?AS4!<>:)04:+SR0-PP?EKZ MK\8?M,_M,?LR?LR_&?\`;3_:C_8/^'OA;5OA]X/DUK1HO"OCI-2N-?\`*CE> M:&:X^PQ-;@;8@#B3=YAX&WGC_'O_``41_;N^&7P)3]JC]IW_`()>^&[WX6:= MHD6O^(+_`,'?%6#5M2TK3&B$LEZ+*YLH!,(HF+NBR!@JMCI0!XAX^\;?\$Y_ M$_[9/[/>H?\`!%&W\(S?$[_A:^GQ?$2X^"NDB'3&\#%)?[676&M46U:,+Y9B M$N9!*$\O!KM-$^"OQM_X*%_\%9_CQ^TA\&OVN?$OPKTKX*Z9IOPD\.ZQX8T' M3;\ZC/M&J:S&POX94C,=S-:QDH`Q\L`G``K[A^(GQ]^"WP,_9.\1?M?:;!8C MPAHW@2?Q8+BQ@6`7EE':&Z3;P.73:%!&;!=IR5^]&XR<9H`^;/V!/ M"_C']C?XP?MA_P#!.?XE?$V_\63R:>WQ8\)^(]6L8+:XU>UUNSECU.3R;=4B MC$>HVS@K&H7,V<#)%5_^"//_``5E_P"":7P<_P""7OP,^%OQ4_;?^'&@>(M" M^'EC::QHNJ>)88KBSG53NCD0G*L.X->NS_M]_M=_'GXF?$*Z_8,_89\+>.O" MGPR\5WW@_7O%'C'XA+HMWKNIV3+]ML].B6TFS'%(WE^9.\:.X..`375:#^T/ MXZ_:%_92\,?M"?L8_L2>'M;U[5-7GL/$O@?XCZG'X>N=`EMGF@NX9'%K.))8 MKF+R\!0KJV\-C`(!]1>']?T7Q7H-CXH\-ZG#>Z=J5G%=6%[;.&CN(9%#I(I' M564@@]P:MU\#_LS_`/!1K_@I=^TGXK\;^$O!'_!.SX>6L'PR^(DW@OQ=+/\` M&ME\B]@AMII3`HTS][&L5S&5/RY((XQFNJ\:?\%!_P!M3Q3^VO\`%O\`9&_9 M+_8P\)>,HOA%;^'Y-;UWQ+\3VT=ISJMB;N)8XA939V[)5)W?P@]\``^SJ*^> MOV)_VZ=8_:;\<_$#X!?&+X$ZA\,_BG\+IM/_`.$O\(W6L0ZE;/:WT3RV=[:7 MD(5;B"58I1RJLC(58`UJ_P#!.[]L27]N[]EZP_:,F\"+X;:]\1ZYI?\`92W_ M`-I"?V?JEU8>9YFQ,[_L^_&/EWXR<9(![A17SA\#?^"B7@SXAZ+^T7XT^*&A M0>$?#G[//Q%U;P[K6L2WYG6ZL[#3[:]EOF78IC^2=AY8W'Y."2<5XO<_\%1_ MV^(?@;_PW,O_``3/3_A1JZ9_;;Q-\0D'C(:!M\S^U/[+^S>1_J/W_P!F^T>; MLXZT`?>]%?)'[37[='[6_@;X4S_M1_LI?LN^"?B1\(8OANOC*+Q9J/Q.?2KJ MYLQ:/>/Y=K]BEW#R%5E)<%BV"!BM+]@O]K3]NG]JW0_!WQ;^*_['G@[P7\.O M&O@^VU_2M=TSXGMJ=\L=U;1W%LCVALH@"RR#=^\^4^M`'U+17B'_``3F_;!E M_;V_8Y\)_M6S>!5\--XGFU.,Z*M_]J%O]DU*ZLL^9L3=N^S;_NC&_'.,GCOA MI_P48G^(7[/_`.TO\<#\*TM3^SWX[\8^'4TX:L7&MC0K-+@3%_+'D>=NV[D36JW?FI:3V,2RRK"VXPB0,2"H)->G?M8?\`!3*S^$W[%7PV_;"_ M9P^'$'C^#XL^)/"^E>#-,U/5SI:3#7'1+:267RI3%M,B;AM..?2@#ZJHKYG^ M%/QK_P""IVO?$;1]&^+_`.PG\.?#WABYOD36];TOXSO?W%E;G[TD=N=.C\YA M_=WKGUKZ8H`_-S_@N-K?[#OPY\7>&?B)^W9^QG\2?B#HLEF;+0O$OA[Q(\>F M6,Q)9[9H1=1"&9@`VXI^\"C#-Y9"_"O@S]K;_@W6LO&&E7MW_P`$[_B);11: ME`\MQ?ZZUS!$HD!+R0_;F\U`.2F#N`(P0P/5'4@,KJ0RL`000#7\W/_!6S_@DM\3/^";OQ/.J MZ2MWKGPQUV[8>%_$[1Y:W8Y;[%=E1A)U&<-PLJC*;7J[7MYG]$6M>*OA?\`&+]F'_A+ M?A;8R>,/"&KZ"DNF6G@Z_$!O[+`_=0,K)M^4%3'E3P4QGBOA"X^+W_!,BTN' MM;K]E'QE%+$Y22*35V5D8'!!!N<@@]J_.W_@CG_P6)\^`/VKOA_:_M;_`+). MI6&K3ZMIZW[II$@:#7;=ER)HL<"<#J."V"#AQSR5LMEDN,=&NYCZC(&O)5Z+-O+N9$'W>&^4\$#<,T/^"LOQR_8C^#7[)&KP?MSZ!!XA M\.:T1;Z=X2BP;[5;I?F46OS*T;I]XS!E$8Y+#(!_*_Q-^T_=?L:7,/Q@MM?N M-+UK2[@C3;>'B:XG'!AV'JIY#AAC&NNB?Z]#DQ.? MPH8)TN1.>UK>[;NU^A]7+^U=_P`&\JKC_AV]\3C]?%S?_)]?L1_P2FMOA'IG M[(=CXA^"GP"\8_"_P1J-Q)?Z#H'CK6VN9?L[J&-S&KSRFW@W_8C\0_LE^.OC-;W/[.W[-GC'2=1T^-GO=?#W31%!$-]W=R`&:]FQ\TLC#JQ].@&`,`5YN92 MP^#H^QC*3DU:W,[)>:_0[\!&OBJOM7&*BGORJ]_+_,^6_P#@MWG_`(0+]G'' M_1X_PZ_].+5'^VUX.\+_`!$_X*[_`++W@#QQH5MJFBZY\*?BI8:MIMY&'BNK M::VT6.6)U/561F4CT->H_P#!1_P?^RGXM\"_#O4_VM?VB]+^&VC^$/B]H7BW M0M3U;6[2QBO]3TR1[F&S9[GY65PKEE7#[5)!&,U2\-ZG^Q)^VM^U]\/OVG?@ MG^UKX7\7>)/A+X>U^PM=!\'^*;&^CE@U86:32SI$S2#9]DCVD$#+G.>*^9/H M#X!UOQ?XJ_9N^+GP"_X))?&/6[F\U;X0_M<^%-2^$^LZA(6E\0>`KFRUA;%] MQ_UDMDX:QE(X'EP_WLU[A^T)X`_:B^(/_!?_`%/3OV5_VAM&^'.K0?LBZ7)J M6I:UX*77$NK?_A)K\>2L33P^6V\JV_)X7&.2_\)/JUM9:4L*:C/?QN))= MI\]GD=<;L%5X&*X/A1KQU+Q M)I?AU=*@NE99&B"VJR2"/;&40G>=Q4MQG%?+W[2L/_!1JT^!/P!_9L_:X_:B M\#67P`^/`O&WB#X<^`)K+5]+@O=.'V.QDGN[N>-8[PJ;22X5%\O?D#Y@ M*^Z/BG\1/V&O^"H7P#\>_L;?#S]K[P=KR>-_"UWI6J#P-XNL+W4+:WF0H\L< M:N_*@]2I`[UYS^U]\1O^"3_QJ_94U[_@G?\`';]O+X>:+%8:;;Z%=3/X_P!- MMM6T6_TYXQ#<`._[JZ@GMT;!7AD*D8R*`.*_X+KZ[9>`_P!D'X4_L`_"7X:: MWX@'Q4^(.A^&1X*\)1++J-SX6TK9J&I1VRR.BL1:V:0G./VH?\`@D%^W1I?A:Y\5>+;V^\>?#C7[6+7_!VK>(%?9>.PB<3Z;=/(N)FA M6.XB==PW#<5.<;CX]\7OV1_@G\-CXC_;E_9H_X*@:Q^SYX M'^)UU!K?BZ^T74-&N_"^L7ET$1=4@_M&*2*VN+C*9EB8"5MI*D\UU'[`OQ?_ M`."57[,O@^U_9S_9\_;N\"^+_$/B[Q9/J6J:EJ?Q)L-0UOQ9K]_(HEN9BC@S M7$K"-`J*!A451Q0!F?\`!'_/_"U/VS?^SO\`7?\`TT:/7BGA7PQ^WAX@_P"" MRO[:<_[$OQ<^''AF6VTOX='6;?Q_X0N]3%]*=!G^SK$]O=P>0`1('+!\[U(` MVD'Z3^'?C7_@GS_P3@^*OQ8\._$']M;P=H7B3XH_$BX\>:]H7C3Q?I]E<6$] MY:6L`CBB9D<0E+5&4L"26;DC%=K^RS\%_P!GZ7X__%C]NWX$?&JW\9)\;(]` MBU.72-4MKS3;4Z/9R6L0MY(,Y++*2X9FP0,8Z4`>$_\`!"FQN_C%\+/&W[>G MQF\:W>M?&_XD^(3H7Q=L[BPCLXO#%[H4DUDFB6]M&3Y44.YY`S,SR_:`[')P M-/\`X-Z?D_X)DZ-;/Q)#\2/'"2H>J,/%&I_*1V/(X]ZZ'X-^*_\`@G7^R9^V M[\6=,\-_MP^#=.\7_&/Q+8ZEKGPHO_&.G)]AUR.W%O+/;P;A*D]T%C,J,26> M-2`.+O%W[''[=?Q+^"VC^/M#O#=GIFH::VI7 M!S<7EFE_;2M8RRM\S^6VTL<[1Q@`^'OCUI_B+5O^"97_``5/_P"$4BFED'[1 M.M23&VR2;6&UT)[L9'80+-N]!G-?KUHGB'X97/P8M/%=M>::?!LGAB.[CN)- MIL_[,-N'#'/RF+R>?3;[5P?[-'["OP`_9?\`V<+_`/9A\*Z+=Z[H.ORZA<^, M[SQ7=?;KSQ/>7^?MUU?RL!Y\L^XAS@#;A0``!7S];_\`!%2>Q^';_LPZ=_P4 M(^-$'P'DC-J?A&+RP95TPGG2EU0V_P!N6R*_N_*$F[R_DWXH`]=_:M\<_##X MF_\`!*GXH_$'X)ZMI]_X0UGX"Z_=^&;S2HO+M9K%]&N#"T2X&U"F-HP.,<5H M?\$ML_\`#LS]GC_LAWA3_P!-%K7??$']G[P%XV_9JUS]E?2[3^P/#&L>![KP MK;P:/$J?V=82V;6BK`I!5?+C8!000-HXQ5C]GCX,Z'^SE\`?`_[/GAC5;J^T MWP+X1TWP_I][?;?/N(+.UCMTDDV@+O98P3@`9)P!0!\K?\&ZK#_AS]\*XMPW M1:AXG21>ZL/$FJ94^A'I7CW[-+!_V`/^"E$B$%6^.?QAVL.AQI,0./Q!'X5[ MK>_\$F?$GP_\6>*+S]CG]O;XH?!CPMXTUNYUC7O`WARTTR_T^"^N7+W,]A]N MMI'T\RN6=EC;8&8E57C'J/PT_P"">WP+^#G[$_B']AKX<3ZQ:>'O%&A:Q8Z[ MKU[??:M5U"ZU2.5;S4;B>0'SKJ1IF+?^"FWP;_X)/?L MXCXB?M0^`=&^`WQ$\+>#/!OC'7O"/P\FCU_P=X=U;38;6*Z>YNKR2!BOF0P2 M3B)=K3"15X`'T=_P65^!FF_`[_@G;\`_VVWV MQ=/\C4(8+6:6,LOVC851V4E=^#DC.:^J-8_8.^#WBG_@GS#_`,$X_&=Q>ZKX M,B^&-KX*:]N?+^UM;6]G';0W60NQ9U,22JP7`D4$#C%TU\M^`/V#/VK_"'CO1?%GB+_@K7\9/$>GZ9JUO=WWA[4_#GAI+ M;4X8Y%=[65H=-218Y%!1BC*P#':P.#7U)0`5R_QH^"_PQ_:&^&&L?!SXQ^$+ M37?#FNVC6^HZ=>)E74\AE(Y1U(#*ZD,K`$$$`UU%%5&4H24HNS0I1C*+35TS M^8W_`(*T_P#!)OXG?\$V_BG]MT];O7/AGKUTW_"*^*6CR8FY;[%=;1A)U&<' MA95&Y<$.J;G_``25_P""S?Q/_P"";^JWG@/Q=I=[XM^&>I"6:7PTER%FT^\* MDK/:L_RH'8`2(?E8'$HV2[\%> M#-0AP=;8'*7ETA_Y=>A2,_Z[AC^[P)/T#_X*#?\`!/&U^(EK=?&KX$Z(D.OP M1F36-"M(PJZDBCF2)1P)@!RH_P!9_O?>VQW$.`PU98"AHDK-K9>7^;_X-L<) MDF-KT7C*NK>J75^?^2/!_P!J#_@I9XY^/'PNTWX9>$]"/ANVGL57Q2UK-_Q] MR#@PQ$_#[3MD4>'O;Z4#S[Z?&&ED8=2>PZ*,`<"OG M<7B\/E5'V5!>\_P\W^A[6%PN(S.K[6N_=7X^2%^`GP$^'W[.?P]MOA[\/=-\ MN&/#WEY*`9KV;&&ED8=2>PZ*,`8`KM:**^2G.523E)W;/J(0C"*C%62/S[_X M+Q>-_A;\-O$O[)7CKXVV2W/A33/VEK6;78&T274@\`T3501]FBCD>;DCY51C M[<5Y_P"-M;_9Q_;3_;;_`&>IY'0/V3?VV]0_X)D?LT?LR>/?A M%JMWXM^"/[4'A:VU.4S0D77A?1-;D%OJR'?@P?8!;G'W_E/R]J`,']HKXJ?L M;?M^?M`_"#X*?\$U?V?M1L?C%X+^*/A_Q?K/C./X4W?A5_"/AJ"[)O9[F:[M MK:26*XB62W6W4.LS-@CY:]D_X+J?!+X,6GP(^&WB:T^$7AB+4M2_:=\`IJ.H M1Z!;+/=+-KD7G"20)NB_MP?`#XQ>%_VX/@/_P`%`?V:O`MU MKNJZ'J4O@7XL:/ISHLM_X.U([SR[_`+!>)'E7_^"O7P*^+7 M[0'P+^'7A?X.^";G7;_2/C_X)UW4K:U=%:#3K/5HIKFX.]@-L<:EB!S@<`T` MUT71 M[1D62ZF,T;;%+D*#A2>2.E8__!5W]BCQK^U[^R,LGP1O%TOXP?#IQXB^%6K9 M"E-3B@9);%V)`,%W`TMK(I.PB56;.P4`?%G[1VI:7HW_``;`_LVZOKFD3ZA9 M6MI\)9KRPM;$W,MS$NI:8SQ)"H)E9E!4(`2Q.,'-?;W[)'Q@_8W_`&COB!<: M9\,?V(?$_@W5-!M5U*'5O&WP'G\/1JRRHJ^1<7-N@:8,P8*IW`*6[5\X_&_] ME+]I^#_@@-\"_P!G[P_\"-;UKXA^!;?X;W.N^"--DM_MRMI=]83WD*F258BZ M+!)U<`D=:^A?"7_!1SXZ>)O%6F>'+_\`X)+?M&Z/!J&H0VT^KZG;>'!;622. M%,\OEZNS^6@.YMJLV%.`3Q0!\M>,OVB_V./V?/\`@ME^TW>?M=^`[O6[?4?A MU\/_`.Q3;?"V_P#$PM_*MM2,Y86=I(-9M4NTO=>M=/POV>([X8MS(A MF:(L1E37L_[.OP+^*_A+_@K)^TK\=_$W@FYM?"'C/P/X$LO#.MR,ABU">RAU M);J-`&+`QF:('(`^<8SS6/\`\$W?V>/C?^QYX[^.G['A\+7FG_"FW\7R^)_@ M7XJC$4EO9V6KA[B[TE(RQ*?8KTRLBNN'2<')P10!\=_!*?\`9?\`V(_V09?^ M";O_``67_8CO/"EG*U]8:K\>D\*C5_#GBR:YN)675Y-6@C>:QO7,BONN`K1, MJG>N`!^K'[/VA^$?#/P*\'>'/`'Q&O/&&A6'AFQM]&\5:AJL=]/JUJD"+%=2 M7,8"W#R(%8R@`.3N[U\=:'^U[_P4+^&/PGU+]F3]K[_@F1XX^,WCB"WN=+@\ M7^`XM';PIXWMVW)# M7PS_`&9?BOJ5K<>(O#FE7+ZM'8W#2V]G+)8 MXXU"HB+@*!P``.@IU%%(9F>'O!?A'PG=:C>^&/#5CI\VKWAN]3DL[98VNIR` M#(Y`^9B`.3[^IK3HHIMMN[$DDK(****0PHHHH`****`"BBB@`HHHH`****`" >BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@#__9 ` end EX-99 5 exhibit99.htm EXHIBIT 7.13 - PRESS RELEASE exhibit99.htm
Exhibit 7.13
 
 
 
 
 
 
LS Power and Global Infrastructure Partners Jointly Propose
Acquisition of TransAlta for C$39 per Share

Proposal would provide a 21 percent premium to TransAlta shareholders as of the close of 
markets on Friday July 18, 2008

TransAlta headquarters and corporate infrastructure would remain in Alberta

Support of TransAlta Board of Directors and management sought for transaction

New York City, U.S.A. – July 21, 2008 – LS Power Equity Partners (LS Power) and Global Infrastructure Partners (GIP) today announced that they have jointly made a proposal (see letter attached) to TransAlta Corporation (TSX:TA, NYSE:TAC) to acquire all outstanding TransAlta common stock for a price per share of C$39 in an all-cash transaction. The proposal represents a 21 percent premium above the closing price of TransAlta common stock on July 18, 2008 and a premium to the stock’s 52-week (and all time) high.

“We have a great deal of respect for TransAlta, its employees, its Board of Directors, its management team led by Steve Snyder, and its heritage.  Furthermore, we have confidence in the underlying value proposition that TransAlta’s business provides,” said James Bartlett, President of LS Power Equity Advisors, LLC, speaking on behalf of LS Power and GIP.  “To that end, we believe that our proposal for TransAlta provides shareholders with compelling value.  It also provides continuity for the company’s customers, employees, management and communities where it operates.”

LS Power and its affiliates are shareholders of TransAlta and currently hold approximately nine (9) percent of TransAlta’s common stock.  This proposal is being made public pursuant to US securities regulations.

Compelling proposal

 
 

 

The proposed transaction offers TransAlta shareholders compelling value.  This fact, coupled with the commitment to maintaining TransAlta’s well-deserved status as a corporate leader in the Albertan and Canadian business communities, makes this an attractive proposal for all stakeholders.  TransAlta would continue on a business-as-usual basis, headquartered in Calgary.

LS Power and GIP are committed to working closely with TransAlta’s Board of Directors and management as they evaluate this proposal.  The goal is to successfully complete a consensual, negotiated transaction that is supported by the TransAlta Board of Directors and management.

The right partners for TransAlta

LS Power is an experienced owner and operator of power generation assets throughout the United States.  GIP is an organization that invests in infrastructure companies and assets worldwide.  In a private company structure, with owners taking a long-term view, TransAlta and its leadership would have significant flexibility in making strategic investments and plans that benefit stakeholders.

“We are convinced that we are the right partners for TransAlta, as management would have enhanced flexibility to execute longer-term strategies for growth,” concluded Mr. Bartlett.

About LS Power
LS Power is a fully integrated power sector focused development, investment and asset management group with a proven track record of successful development activities, operations management and commercial execution. LS Power has developed gas-fired and coal-fired facilities in various jurisdictions. LS Power currently owns and is developing a diverse mix of power generation facilities fueled by natural gas, coal, and renewable resources, including wind and solar.
For more information please visit: www.lspower.com

About Global Infrastructure Partners
Global Infrastructure Partners is an independent fund that invests worldwide in infrastructure assets in both OECD and select emerging market countries. GIP targets investments in single assets, portfolios of assets, and companies in the energy, transport, water, and waste management sectors. GIP has offices in New

 
 

 

York, London and Hong Kong and Operational Headquarters in Stamford, Connecticut. Credit Suisse and General Electric are the founding investors of GIP.  For more information please visit: www.global-infra.com
 
 
 
 
 
 
 

 
 

 

Letter sent to the CEO of TransAlta

Following is the text of the letter sent to the CEO of TransAlta with respect to the proposal, and filed this morning with the U.S. Securities and Exchange Commission by LS Power:

July 18, 2008

Dear Mr. Snyder:
 
As recently discussed with you, we have a great deal of respect for TransAlta Corporation, its Board of Directors and its management team and believe fully in the underlying value proposition of your business. LS Power Equity Partners (“LS Power”) has demonstrated the strength of its conviction by becoming your largest shareholder, holding 9% of the current shares outstanding.
 
While we are enthusiastic about TransAlta, we continue to believe that the TransAlta is undervalued and will not be fairly valued as a public company.  It is for that reason that we believe that your shareholders would be best served by an acquisition of TransAlta. To that end, we have evaluated a possible acquisition of TransAlta by LS Power and Global Infrastructure Partners (“GIP”) and are convinced that we can offer a proposal that presents compelling value to TransAlta shareholders. Our goal is to consummate a consensual, negotiated transaction that is supported by the TransAlta Board of Directors and management.  In this spirit, we ask the TransAlta Board of Directors to seriously consider this proposal and engage with us in a meaningful dialogue.
 
We propose that LS Power and GIP acquire all outstanding shares of TransAlta not currently owned by LS Power for a price per share of CDN $39.00 in an all-cash transaction, structured through a plan of arrangement.  This price represents a premium of approximately 21% to today’s closing share price and a premium to the 52-week (and all-time) high.  We believe that this offer represents a compelling opportunity for your shareholders to realize immediate and substantive value in an uncertain economic environment and that our proposal will be well received by other TransAlta stakeholders.
 
We are committed to maintaining TransAlta’s well deserved status as a corporate leader in the Albertan and Canadian business communities. This includes:
 
·  
delivering on its capital investment strategy and environmental leadership for Alberta and Canada;

 
 

 

·  
honoring TransAlta’s commitments to its customers, employees and retirees;

·  
maintaining TransAlta’s headquarters and corporate infrastructure in Alberta; and

·  
building on TransAlta’s outstanding legacy in the area of corporate philanthropy and community engagement.

We would hope the current management team would agree to continue to lead the Company.    We believe that in a private company structure, the Company and its leadership would have significant flexibility in making long-term investments and plans that benefit stakeholders.  In short, our aim would be to maintain TransAlta as a responsible, values-driven Canadian company that continues to demonstrate, as it has in the past, the same high regard for its employees, customers and the communities in which it operates.
 
Given our familiarity of TransAlta and its industry, we are prepared to work with you and your team to move expeditiously. We have completed due diligence based on publicly available information and would require only a short period of confirmatory due diligence to finalize our offer. We have already retained Credit Suisse to serve as our financial advisor and Stikeman Elliott and Skadden Arps to serve as our legal advisors. We and our advisors are willing to meet with you to answer your questions regarding any aspect of our proposal.  We are willing to sign an appropriate confidentiality agreement to expedite the diligence process.
 
The transaction would be funded with approximately $6 billion of equity.  We have reviewed this opportunity with our respective investment committees, each of which fully supports this transaction.
 
Our collective equity investment would be supplemented with a $2 billion debt facility provided by Credit Suisse, which will also provide a $1.5 billion backstop credit facility, if necessary, to refinance TransAlta’s existing commercial bank facility and the recently-issued $500 million of senior notes should the holders exercise their change of control put.  We would be happy to make representatives of Credit Suisse available to discuss the terms with you.
 
Importantly, the new $8 billion equity and debt financing that will fund the consideration being paid to your shareholders would not subordinate any of
 

 
 

 
 
your existing debt or lenders.  In addition, our financing plan is designed so as to not affect the investment grade rating of TransAlta Utilities.  Also, we do not foresee any material regulatory issues in completing such a transaction.
 
LS Power is an integrated developer, manager and investor focused exclusively on the power and energy sector.  For almost two decades, LS Power has developed a significant portion of North America’s energy infrastructure, including over 7,000 MW of power generating capacity, and demonstrated a strong record of community partnership.
 
GIP is an independent $5.64 billion fund that invests in operating infrastructure companies and assets worldwide.  GIP, whose founding investors are Credit Suisse and General Electric, is a long-term investor that concentrates on the energy, transport and water and waste industry sectors with the goal of improving the service quality of the assets it invests in to benefit all stakeholders.
 
As you may know, we are required to file this letter publicly given our disclosure obligations under the U.S. securities laws.
 
Nothing in this letter is considered to be binding on TransAlta, LS Power or GIP and no binding obligations shall be created until all parties have executed definitive agreements.
 
We believe that this is a significant value-creating opportunity for TransAlta shareholders and that it will be favorably received by all parties.  We look forward to receiving a response at your earliest convenience and continuing our dialogue on this subject.
 
 
Sincerely,
 
 

/s/ James Bartlett
James Bartlett, President
LS Power Equity Partners
 

 
 

/s/ Adebayo Ogunlesi
Adebayo Ogunlesi, Chairman & Managing Partner
Global Infrastructure Partners

 
 

 

Cautionary Statement Regarding Forward Looking Statements and Regarding the Nature and Legal Effect of the Proposal
 
Some information in this news release may be forward-looking. Implicit in that information are assumptions and expectations which, although considered reasonable by us, may prove to be incorrect. Actual future outcomes and results, including whether our proposal is acted upon by TransAlta, whether a transaction and the definitive documentation relating thereto are agreed to by the parties and whether the conditions relating to such transaction are satisfied, are subject to a number of risks and uncertainties, and could differ materially from what is currently proposed or planned as described herein.  You should not place undue importance on forward-looking information. While we may elect to, we are under no obligation and do not undertake to update this information at any particular time.
 
The non-binding proposal is subject to, among other things, the satisfactory completion of confirmatory due diligence, the negotiation and execution of a definitive agreement on mutually agreeable terms and the receipt of any necessary corporate and other third party approvals, including the approval of TransAlta's Board of Directors and shareholders. No binding obligation will arise with respect to the proposed transaction unless and until a definitive agreement with TransAlta has been executed and delivered.
 
 

 
-30-

Media Enquiries:
Hill & Knowlton Canada
Nicole Fisher
T: 403.268.7852
C: 403.461.7102
nicole.fisher@hillandknowlton.ca


 
 

 
 
BACKGROUNDER – LS POWER
 
LS Power is a fully integrated power sector focused development, investment and asset management group with a proven track record of successful development activities, operations management and commercial execution. The company currently owns and is developing a diverse mix of power generation facilities fueled by natural gas, coal, and renewable resources, including wind and solar.
 
In its 18 year history, LS Power has been involved in the development, construction, or operations of over 20,000 MW of power generation, including the successful development of new gas-fired and coal-fired facilities representing more than 7,000 MW of total capacity.
 
LS Power’s modern plant designs include some of the most efficient facilities of their kind in the country, and use advanced control technologies to reduce emissions. The company is also providing funding for advanced research for new technologies to further reduce emissions.
 
LS Power employs over 140 people with extensive expertise in all areas of the power sector including project management, power marketing, construction, operations, regulatory, environmental, financial, legal, and tax.
 
The company has raised more than $10 billion in debt and equity, including two private equity funds totaling over $4 billion focused on the power industry.  LS Power’s projects create quality jobs, provide revenues for schools and local government, and fulfill a need for energy which is critical to economic sustainability and growth. LS Power partners with local communities to ensure its projects fit with each community’s plans and goals.
 
LS Power is a privately held company with principal offices in New Jersey, New York, Missouri, California, Florida, and New Hampshire.
 
GRAPHIC 6 lspowerlogo.jpg begin 644 lspowerlogo.jpg M_]C_X``02D9)1@`!`0$`8`!@``#_X0!F17AI9@``24DJ``@````$`!H!!0`! M````/@```!L!!0`!````1@```"@!`P`!`````@`!`3$!`@`0````3@`````` M``!@`````0```&`````!````4&%I;G0N3D54('8T+C`P`/_;`$,``@$!`0$! M`@$!`0("`@("!`,"`@("!00$`P0&!08&!@4&!@8'"0@&!PD'!@8("P@)"@H* M"@H&"`L,"PH,"0H*"O_;`$,!`@("`@("!0,#!0H'!@<*"@H*"@H*"@H*"@H* M"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"O_``!$(`$H.$A8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJ MLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7V-G:X>+CY.7FY^CIZO'R\_3U]O?X M^?K_Q``?`0`#`0$!`0$!`0$!`````````0(#!`4&!P@)"@O_Q`"U$0`"`0($ M!`,$!P4$!``!`G<``0(#$00%(3$&$D%1!V%Q$R(R@0@40I&AL<$)(S-2\!5B M7J"@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>X MN;K"P\3%QL?(RKR\_3U]O?X^?K_V@`,`P$` M`A$#$0`_`/W\HHHH`*!GN**\G_:H_:X\#_LOZ7HFDW&AZCXH\;>,M0;3?A_\ M/?#P1]4\17BKOD6(.RI#!"A\V>ZE9(+>,%Y'7*AML/AJ^+K*E1C>3_X=M]$D MM6WHE=O1">!/!_Q;N/'VOZ>)!? MZ'\*?#.H^+;FT9&*LDZZ/!-/`&G>%]&TL&+0?%_["?B[PYH\<"D(L42:CKMO!(?F MXB0-@!CM`S7UE#(C: MC_P5OT2SU46-I_P3_P#VI;RWWX.H0?!*[6(#<1G$CK)C`S]S.".,Y`Z33_\` M@J]^R+IL%C)\:+GQO\*?M\WDPW'Q;^&VL>';%9."$;4+RV2Q4G(P//SVKNH/ MV$?V)[?X8WGP4B_9,^&J^$]2U,:EJ'AI/!&GK8W5\%""[>W$(C:8*`!(5W`` M`$`"OE#XM^%/VD?V!M?DT+X.:?\`#C3/#'B.2[.EV7PY_8^\2ZX([963]U?# M1]7,22[70;WBB67#E``KHEX'#<,9K-T:<)1GT]ZW-IWM.UMVN5Z;/JE.5:GJ M_P"OR/O?PGXO\*>//#EEXQ\$>)K#6-(U.V2XT[4]+O$N+>ZA8962.1"5=2#D M,"0:TJ_)#X8VEQ\-=1O/B/\``^]^*'PI^)5]K,=P6^&_['7C73/!&MQ#R.=>_9G^/7@,?#_P"-'@VT MCN]?\&2WHN+;5=-=MD6MZ1%-$N=5UJ]\IG,-M!$TL MC!%!9VVJ<*H+,<``D@5^57[2WQ^\6^&7N_'/Q:\,>&X/C/\`%?0!_P`)UH_B M6'QY')X%\*RM'<:7X:T^_P##>ER/%)C,VH%986EN2VY9(?(6'[4_X*97NF^- M]1^"G[+>MZS86NC_`!&^+EI<>*X]2A1X;C1]#L[KQ!<0OO\`E"22Z9:PN3QY M6$"D@[?T+AA9?E.#6-QL9-2O+W9Q@^52M!)R4 MKWG&;:C%N\(.ZU3Y*_/4ERQ_K^D>`?L(_LC^*/VQ_&\6MW?@/PHG@72-56#Q M9JUA\5?C!;7^#$7\JUCUAK**XD;"*SB1A")1(RN=L;_??[1O[3'[(?\`P24_ M9+C\5_$;6Y='\+^'[7[)X>T07TM]JFL7.&9;:`W,K2W5Q(VYFDED.,M)+(JA MW"_MW_M[_!?_`()U_"'3=7\46.I>(_%6OSKI/PX^'>B&2[UGQ7J6%1+:!,/( MX#/'YDS!MOF*/GDDCCD_-#6_$7]J?'"+]KC]N7]H3X`>-_CE`;^STSX=:M^T MII/A[3O@K(K!$AM(W@OAV&:!2IE94D7Z##4,5QG76.S*=2.!3 M?LZ3JWG5E'=1E/E@DKVG5<5&-^6*E/W7DW'#KE@ES=7;;^NQROQ/^,/_``5L M^*/[3NE_MHV/Q[M/`OQKTZV-Y\.?V19-/OYX!X6EC:>;3=1E5$MCJ5S%!%,] MI.8[N3$3I]EDCM((OTS_`&$OV]_V9?\`@KK^S9K%BFA2Z9K,-LVD?$[X9ZO= M/'J.@73JR/&67RY#&Q5S#@QC!'[S_@J MA,3V[C2#Z_I]*V/$OAC3?C5\1-&_:L_8>_:;^!_@O]K+PG:VUAH^D>&_VB-- M\4I\8;".'$UCJH6VLBUZR0KMF\LB3"B1T*Q3VOU&>83*\]P5'#UZ,,)4I)*C M6IN"C3L](5%#WW2;U523G5IRT#X@>&=C:MX M[O+^Q\57$D,0TR:ZUR.4KI.H)OMKFU60(YE5A#)(17Z1_P#!-_\`X*6_#?\` M;]\%ZCX?U7PW<^"?BIX/D^Q_$;X8:\ICO]%NE.QF".%:2!FR%DP"/NL%;BO$ M/VS_`-B?XJ?!D:M\5/`?[2/Q'@\#06\E[K>K>+OVN=;T"+1"\S#RT6/1-1/V M:-63$TLX91G?PID;P\+Q!C\/5EDW$"K/%4W[C=9.#=K1O"=.HIJ2>ZGRU(2L MM'KJZ46E4I6Y7Y?JFK?H?6G[$W[4.F_MA_LU^'/CE;^&Y]!U.]BEL_$_AF\+ M>?H6L6LK6U_82AU5MT-S%*@+*I=55PH#"OG?]MG]K/\`;\^#G_!2GX!_L<_! M7XB?!^T\+_M`CQ3_`&7?^*/A7JNHW_AHZ%H\%]+YKP:_:QW_`-HD=PNV.V\E M2H/G%2S-_P"";GQ*\&6/[9?Q>\`>%/&GA*]TOXI>$O#?Q:T>V\':PFHV+W]U M'-H^MR6]VD4/VJ/[7I5NYE\J,L]PS-'&6V#"_P""AV?^'Z__``3JR?\`HKO_ M`*C%M7Y7Q!@:6`S6<*2M"5I16ONJ24N6[W<+\C?>+.VC)SIIO<^W_BS\3O!W MP3^%GB7XS?$/4OL7A_PCX?O=:UV\VY\BSM8'GFDQWVQQL?PKYA\._M3_`+=W MQ&_8UB_X*'?"[P=X%U;P]JWPJ;QMX6^"-IX7U*Z\1:M$]F;ZTLUU>"\:/[7- M`8X_(CTV3$[[0[CD^U_M;_M"_LO_``"^&%Q'^UCXHMM/\,>)-,UFUNK:ZTJY MO$O;2TT6_P!5U"-H[>*1BBZ=I]]*01\PC\M=TDD:-\+?M6?\$SOB/_P30_8E M^)OQO_8#_P""G?QU^'^E?#/P-J?B+PU\//$FOV'B#P_9BQM'G33[:/4;226& M&0Q;%C\QAOD)P=Q!\4U/T\K\_/V=/VH_^"J_Q\_;O_:)_8ID^./[/FD+\`O^ M$3SXG7X$ZY<'7?[+]:\&Z7?^*_#PE$@TO4IK2*2ZM=R\-Y:`/I;]AS]L+XI_&[XQ?&G]E/X_^#]'M/'GP+U_1]/UO7_"MO_D^(-QI$NM:IXFFOP^IW%W.]M:7.KRSR`[Y+6R!DC4`*B6<<<:J MJJHX[]L+X3>%/V2_CO\`LE?&G]A'P1'8Z[X]^/.F>$O&Z:#>>1_PF'AJ]T:^ MFOK_`%3)QJ4UM!8QW27$X>9?*(5U\P@@'Z"45^;'QQ^!/[.7[#W_``6Y\(?M M/:'^SQX)2[^.?PVUZPT*\_X1*VBE3X@VERD\4L-VJ#[/>:G;:A=QROD23_9V M8L0LF:'[,OP'^''Q4U'XR_\`!'S]K/PQH7Q'N/`_Q];QKI,GC+P_!'M9 MC&N2ZHB2H4WM>WFJ:=]I@"%/M97Y65]P!^FU%?G=^UUJGQ=O/^"G/PU_X)X? M"[]EGX7^*?@]:?LU:IJVE?#?Q[XG.@>&-1NXM3L]/^S"WMM)U!)_L-D$$5J] MN(0E\[@HT"!L_P"*O[+/[5'P=_X(N?M)>'?VK_B$FEZOX.@\?^-_@\GPB^*_ MB&/_`(1S2AIUW>Z7IEQ?*MA+?1V*#I.H^*/A;JNHZCX;;0M'AOIA,T& MO6L=\+B1V"E4M_*5@")2FY^C_P""57[./@.__9=_9D_;)N=0U9_&Q_95T+0- M4NY+P2)J\%_9:/?-+=EU,LTT,EF%A8N!''(/`VH7?_``MC[/XI\+6VG37]EL\.V;MY2:E:7=J=ZJ8V\R!\ M+(Q7:X5U`/IS0-._X*>^#OC-X$B\=_$SX.>//`>J:[=6GCT>%OA5J'A[4=&L MAI5]-;WL4UWXDO4F!OX;&V:)8' M/VNM=^(3_&[0/#'@SX>S>,=/T]-7;4M&C\5ZQ=VA31M+LK2.U%G.\\RM-,N$5'L&M8;6V7?!Y;2LK22;FDZ(WPY_X.<-<^'_AGQWXNNM#UK]C6[\4ZAHFO>.M4U:TM]7N?&,, MW,R62>5%"BV]N(X8T4!(U!P0#[P\.>(_'NI^/?$GA_Q!\./[,T/3/L M?_"/>(?[8BF_MKS(BT_[A1OMO):AX.\2S7Z:+?7^GO:R7"VE]<64DGE28=%,MM(5W`,5*DA2<#XO\`^":/ M@&#P]_P5C_;[_9OC\?>/=0\*>'(?A=%H4'B#XEZWJE]8)=:'>WDXBU"\NY;Q M=\\LCDB;(W;1A0`/)?\`@@9_P3D_9B_:X_X(%^!]#^-^C^(]=@\?^'?%.E:C MINL>.=6O=)T]O^$BU%(KVQTF>Z?3["\B,,;I=6]O','\QM^9I2X!^NU<[\5] M.^+&J_#_`%&P^!OB_P`.Z#XI=8_[)U7Q9X\LY)0T8=`5G M38S*YWA3&WP'^Q3\"?V8OVMOV.OA1^PE\;OV#OVZM-^)'[/>D3^*AJ$O"TNFV]KK22^)=77,UT]E)?P,H/RM: M75N>.<\Y^F?VM-;_`&5O@/!\!?V,HOA9J&K7'B'Q#+IOPP^#?A.XM;6PUBSL M-(N8[N._AN9(X)M+L[.GQ^&_[4T8W5Q!I]]8-9S6<, MCVD,K06XBC#2SQ?O8V)>A_P0#_9Q\)?M8?\`!)W]F/\`:4^-/C'Q=J'C?PKK MOC+4H/$L/B>XCU"^%SJ6O:;+:7%V#]I-N4N!.$CEC/GP1/N(#JX!]Z?L>_M; M_!?]NG]G?0?VI?V>=7O-0\'>)9K]-%OK_3WM9+A;2^N+*23RI,.BF6VD*[@& M*E20I.!Z97X=?\$WOV7?`,__``:M:C^TY8_$+XLZ5XMT?X.?$C6=+;P_\=O% MFFZ;:WMC>ZX]M(FEVFIQV"A7@C=D\C9(P9I%=G!_%7CK:3JFL^'M8T.;[;IMW=9\VYMV?;(L4K,D;HK*H M(H`_7^BOS^_;F^('[0_Q)_X*Q>"/V*M(_9_^'_Q#^'.H?L]:UXED\(?%/QI+ MI.A>(-5_M>ULYA,D6E:E]KEM+4J4@E@\HKJ$DFY7@4-\S?\`!57]FO\`:Y_9 MF_X()_&SQ5^T9\4I-'\4^#/B3/?_``CM?A3\7/$3V.B>%]9\1Z4J:1>EULH] M3-M'<7=K#Y]LT<-N(A"L1+B@#]FJ*^'_`/@H7^P1XIU33[WQ;^QS\6-"\,?$ M/XD>,/!D>L>$?&_B>33](\?P^'I=3U*;3&DMHFNGN;VTDN#A^/_A%HUW9S>#["=X+W M4+;4M':QBC@:2[AOLSL$CD9+>R,L,3YW@'VQ1110`4444`?+7[7MC?0_\%%/ MV3=>F:X;3I-7\9:4T28\K[7-X?EN(G?OD165THQ_?;GU[S]L[]JF]_9-^'&E M+\.O@=XA^('C3Q3J2Z)\/_!'AJQ95U#46C9T2>Z*^186R1QO+)/,55(HI'`; M817._P#!3KX?^+];_9TM?C7\,/#][JWC#X-^+-.\?>&])T^=TFU'^SW;[=8H M$1R[W.FRZA:HFTY>X3TKF8?^"N?[#5[\2;?X'?''Q[I/A.W\7^&K76_`>O>* MIXTT'QIH5Y"62XM[N4+'&WWH9+:Y$4F\$(LJ%7;[3#8;%YO@\'4HX=UXX>,X M2A&]VHSE5NU'WN7][K:SY8RLU9M<\I1IRDF[7Z_*WZ'PCX[E^+O@OXI:Q\<_ M$GV?XO?&WQ9HD$=[\;?`?QW\%Z':>"[9B6;0?#5IK4EPUO:1H[Q/=20)<3&6 M:3(:5V/-0?$_]LV)=L.I?&.,9S@?M:_"8#O`GA2[M[Y&&5D+:CI-V>A!!1E4@#@YJ#2_V5_V2OV7_ M``5=>-/VBO'?A35=(M+<+=Z[\1/#/A;3;:W(R3(TEIIUG&I(!&&.,#IGFOM< M-QYE\'0_VHOA==_9RV=H?RM+;9D`D9QD"O8O@U^QU M_P`%1OB9"][X^\:_&OX>I#,`(/$_Q\\*3W3D'OLFFO>9R8O.\K=(7&YM M]K!<`[3D@UY5K7_!0S_@X9_:@-QN#G/0X^I>3<99GAN>KEF%RZG+X9UZE6E.WE3J5YSE?RI2OLM3 MG]KAX2LIRF^R2:^]*WXGU/\`&[_@EQ\1_C:GA;]H#PQ\3T^&G[1?P_%O;Z!\ M7=,U!-6E\0V<:HLEOK<,=CI\-W'*N]2BQ`(<$'87A;[%\`Q>.6\":5;_`!5_ MLF7Q"-/B377T1)!927(0"1H5ERZQLV2JN6900"S8W'\9=4M?^#AN]N!#XH_X M*/P7%RA^2Y\(^&/#OV$Y7.29Q93<$8/[@X)R,\FO1_V/OA3\>O"6LZS:P^)(?M5GI][H%@US#'-<.(H;2;*))N,D45\B<_*^`*\# M/O#[-JV50]KG."J^Q4G"*G4C))Z\D9U*45;^6$II*3:BDVT]:6+IJH[4Y*_D MOOT?XGU#HWAV>W_X+MN^D6D[V.D_LJ[+VP\(^(?#7Q3\1:!-H\,X MD6X^SC2[^W6*25)&CEE4"26,)&[,B(J\!_P36GO?CO\`$;XT?\%`9;B5]%^* M?BNWT;X=EKC?%+X8T));.VNXQ@%$N;R34[I<\F.XB;."`/K('-?E?$?-3Q\< M/)^]2A"$NZFHIS3\XR;B_-'=2UC?O_2/G5/^"5/[%EWXRTSQUXU\+^.O&MYI M%IJ-K86WQ)^-'BOQ18I#?V%SIUY&UEJ^IW-M(LMI=W,+!XS\LS8P>:[#PG^P M]^SAX.U=]3L?#>OZA;^?;36N@^(_'NLZMH]A);D-`UIIE]=RV=F48*RF"&/# M*K=5!'K5%>`:A7S[\"?^"7W['O[-OQXU3]IKX1Z%X]M?'&O>5_PDNN:O\:?% M6JG7?*MI+:#^T(;_`%.:'4/)AD=8OM"2>2<-'L95(^@J*`*NM:+HWB71KOP[ MXBTFUU#3]0M9+:^L;V!98;F%U*O'(C`JZ,I*E2"""0:\U^`_[%?[-W[-3V__ M``J#P/>V<>GK-'H5MJOBC4M4@T&"4('M=,BOKB9-+MBJ(HMK00PA450@``KU M2B@#E?B#\%/A=\5/%/@[QIX_\(PZEJ?@#Q#)KGA&ZEFD4Z??O97-BTP5&"R? MZ/=W";9`R@N'`#HC*FE?!'X6:)\:-:_:'TOPA##XR\1>'=/T+6=<$TA>XT^R MFNIK:'86\M=DE[<$LJAGWJ'+".,+U=%`'G_QX_9<^!7[2T.CM\8/!#7M]X>$M2F>36K&P^(NN:?<:P'@>WDBOKNTO(KF^A>)RCPW$LD;A M4W*3&A7UFB@#S[]F7]E[X/?L@?"JT^"7P'L=?LO#&GE!I>EZ]XUU77/[/B2& M*".VMI-3N;B2WMDCA0);QLL*?,50%V)\_P#CG_P3`_8__:.^/>F?M/?%?1/' MUQXZT)9E\.:[H_QJ\5Z2="$ULEK.-/BL-3ABL!-#&JS?9TC\[YC)O9F)^@:* M`/"/!/\`P3=_9:\"_&#PO\>;=/B1KGBCP5<75QX5OO&_QR\6^(HM-EN;.>RF MDCMM4U2X@W-;W,\>XQD@2$C!P1X/_P`%?M%>'OVM1X-\3VWQ'\,Z M!:Z'8^+=/^)WB&UNKO3H+LWB6M_Y-^JZG$TYW2+>"83!527>BJH]WHH`^>_@ M5_P2Z_8Y_9N^/FI_M0?"3P_X[M?'>NB,>(]>U?XT>*M5;7!%;O;0C4(K_4YH MK_RHG98OM"2>20K1[652+WASX9_L/_\`!-^VU#QG9>((?AGH/C;Q(()+76?' M&H)X>AU.X>>XVVMG=7+6&F23RF4GR(X//E=5.^1T4^[44`>,_LQ_!+X?Z-\2 M_B3^UKHGPVMM#UWXO:K8S7URVFFWO;S3]/M%M+)[H,`V]P)I@K!61+B-&4.K MY]%^*WPP\,_&7P!J'PU\8WVOVVFZFL8NIO#'BO4-#O@$E20".]TV>"YARR`- MY'=0\? M:UK%C9$232L;2WU*\N([+?)<2O)Y"Q^:Q!DWE5(Z'XZ?LM_`[]I&[\,ZK\6_ M"-Q=ZEX,U@ZIX3UO2MWO+&:&>,21DQR('V2H2CJRDBO0**` M/!9_^":'['R_%#XC?&C0?!WBKP]XG^+.FZ=8_$'5?"'Q3\1:*VK16(@%HQ6P MOX4AEC6W5/.B5)626Y1G9;JX679_8X_8-_9C_8#\#7'PO_93\*:_X=\,SLIB M\.ZAX^UK6+&R(DFE8VEOJ5Y<1V6^2XE>3R%C\UB#)O*J1[#10!\YZU_P2A_8 MAUKX>^*?A`G@CQCI?@[QI?SW?B/P;X;^+_BC2='N&G%P+F)+&RU**W@@G^U3 MM/;Q(D,[,&E1V1"L.J?\$D_V%-<_9]\*?LNZU\/O%UYX*\!^+['Q/X&T^Z^+ MOB>2Y\.ZG96IM+.2QO6U(W5I%!"2(K>*58(V)=(U<[J^DJ*`/+_B9^QM^SS\ M8?!_A3PA\2/"&HZF_@:$1^#_`!*_BO4X_$.D-]G%N\T&M1W"ZBD\D0VRSBX\ MV;DR.Y)-:[T1?B=XALX=5E9H M'$NH?9;^,ZE(C6T!C>[,S1%,QE,MGWFB@#RW4_V-O@/KGPAT+X)>(;#Q1J>D M^%[^6^\.:IJGQ$UNYUS3+N2.YB:Y@UF6\;4HYA%>7,*RKZ#\)_"C6/\`:EZ+W6]2OM2N=0U'5[L11P_:;V^NY);F]G\J M*)/.GDD?;&HW84"NSHH`****`"BBB@!&4.I5AP17Y`?'NJ:+=30?!77[^Y22\M+I;*[M)[;0M0G&])XKB& M"UN9!'<+Y#0F/]2,#.:JZSHNC^(])NM!U_2[>]L;VW>"\L[N%9(IXG4JZ.C` MAE92001@@D&O=X?S_'JLW&2<923RJTHU M8V:/P,\:?\$?/@O\!/%^J>#_`('?M#?MC>$Y[>]>/4KCPA\"=;U32[S@?/:W M.G;8Y86PI5O-E.W:&8L":S])_P""2_[%ES_Q5'Q6U/\`;#\=^)H)2V?F#XT?LX^' MO#$MAI^K_P#!/?Q-\(KV.Q=]3N=8\)^*?B/HMS,KL"8+_P`,:\MQ!'M"E3'2EF]92;WA2H>T\N;WH56][J//!:+GUL>3/`TH/^ M&OFW;]4<;\-_`NL?!#P'?_"[X/>$]=T/PYJ,)M]1T>S_`.":OB64:C!\Q$5W M-O?_`),JBEC^R\R[9OV@ M/V?[64$A[6_^&'Q/MIT(ZJ\4NM*Z-_LLH.>*[7X2?!+PCXP\2Z;)X=_9EU#X MLV-U,`"JSGYMVTXP;QM=8>,L1BZM=.3 MNY5,'17,^[G.23;ZMOS;",;Z12^4F<]9?`S1[ZZBL;7]G#2=\KJD?F_\$H+F M-!_A?XHO-7\3ZU`IBD-I?>)+L![*W+QX>UTZ- M"RNW^E'<:^V/@O\`!7X4_L[_``QTCX,_!'P%IOAGPOH-L8-*T72;<10P*69V M.!]YW=G=W;+.[L[%F8D_F7$7%^'H>YA:BJ33O&U.E%1:VE)P34G%ZQC&%?AOX-TKX?>!=`M=*T30]-@T_2-+L8 M1'!9VL,:QQ0QJ.%1455`'```K4`P,4``=!17Y/*4IR[._8****D`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"D9$;[R@_4444`)Y$'_/%/^^12B-%Y5`/ MH***=V`M%%%(`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ C`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`/_]D_ ` end GRAPHIC 7 globallogo.jpg begin 644 globallogo.jpg M_]C_X``02D9)1@`!`0$`8`!@``#_X0!F17AI9@``24DJ``@````$`!H!!0`! M````/@```!L!!0`!````1@```"@!`P`!`````@`!`3$!`@`0````3@`````` M``!@`````0```&`````!````4&%I;G0N3D54('8T+C`P`/_;`$,``@$!`0$! M`@$!`0("`@("!`,"`@("!00$`P0&!08&!@4&!@8'"0@&!PD'!@8("P@)"@H* M"@H&"`L,"PH,"0H*"O_;`$,!`@("`@("!0,#!0H'!@<*"@H*"@H*"@H*"@H* M"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"O_``!$(`$8` M_0,!(@`"$0$#$0'_Q``?```!!0$!`0$!`0```````````0(#!`4&!P@)"@O_ MQ`"U$``"`0,#`@0#!04$!````7T!`@,`!!$%$B$Q008346$'(G$4,H&1H0@C M0K'!%5+1\"0S8G*""0H6%Q@9&B4F)R@I*C0U-CH.$A8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJ MLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7V-G:X>+CY.7FY^CIZO'R\_3U]O?X M^?K_Q``?`0`#`0$!`0$!`0$!`````````0(#!`4&!P@)"@O_Q`"U$0`"`0($ M!`,$!P4$!``!`G<``0(#$00%(3$&$D%1!V%Q$R(R@0@40I&AL<$)(S-2\!5B M7J"@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>X MN;K"P\3%QL?(RKR\_3U]O?X^?K_V@`,`P$` M`A$#$0`_`/W\HHHH`*^&_P#@LM_P6$\*_P#!.7X>Q^`_AH=/UKXM>(;??HFC MW.9(-*MR<&^NU4@[>"$CR"[`]%5C7;_\%8/^"HOPU_X)K?`]M;G^S:OX_P#$ M$4D/@GPJ9>9Y`,&ZGQREM&2"QZN<(O))7^:+XH_$_P"+7[2OQ=U3XH?$C7-0 M\3^+_%.I&:\N!$TLUU,YPL<<:`X4#"I&HPJ@*!@5]7P[D/U^7UBNOW:_'_@' MS6>9U]3C["B_??X?\$_IT_X)@_\`!2OX4_\`!2;X#1>/_"YATOQ9I*QV_C7P MFTVZ33;HC[Z9Y>WDP6C?TRI^92*];_:*_:$\`?LT?#6[^)'CV\^2,>786$3# MSKZX(.V&,'N>YZ*`2>!7\K/[&_[8/QG_`&&?CWI7Q^^".M&WU'3W\K4M.G)^ MS:K9E@9;2X4=4;'!ZHP5EP5%?HQ\2?V_M3_X*(ZE%\9I[DVEA`IM[+PR)]XT M;H6C;@;G8\F3`W#&,``#HQ_"[H8SF@_W3U\UY?\`!.?!\1*MA.67\1?CYGZ0 M_L(?\%&+#]I;5[SX;_%"SLM'\4F>6?2([8D07UMDL(UW$GS8UX(_B`W#N!]4 M5^#]C>:_X3UJVU:PFO--U&SDCN;.=-T4L+[U7 M8]3+LQ]M^ZJ_%T\SZ1HHHKPSV3YU_:D_X*K?L._L>?$=/@]\9OBM>MXK&GKJ M%[X<\+>%-1UR\TZR;I=7<>GP3&UB.,AI=NX<@$&Y]>G\8:9ON;=;"!6::7;&K2$H$<,@7>&4J5W`BODG_@D_P#$ M_P"%/PG_`&2_CG_P4$^.^L)I]WXM^._C#4_'?B1K":YN(K:QU:73+*V*PH\K M1P06\2)&JG;O8@#)-<7\3/$_[`/B_P#X(U_MK^)_^">?Q-N=>\-ZUHWC#6/$ M^G-!=06VC:U=Z4);F"VM[F")K:-_DF,:J5WRN0?F(`!^D_A7Q/H?C;PQIOC+ MPQ?"ZTW5["&]TZY",HF@E021OA@",JP."`>>:\&_:E_X*I?L0_L=_$6/X0?& M;XJ7S>*SIRZA=^'/"OA74=,'U_4I%S. M;?3]1DTVQM"QY\N"VM45$Z+N8@?,:`/HS2_VROV8==_9;N?VU/#OQCTK5/A= M:>'[C6[CQ?IA>XMTLH%9II-L:F3W>K*5*@C%>,_#;_`(+E?\$O?BIX MTT/P%X<_:4ELK_Q->Q6>@R^)?!.M:/:7UQ*0(H4NKZSB@+N2`BEP6)`&QO-:\+M/?K&HX0//# MYI4`#=*QQS7)?MH?MH?&'X\?\$Q?"G[(_P`3O^"?_P`0_A3X-\;:/X9T#6_C MG\25LY=!\+6NZTQJI%A-<3*V440O(L*K))&SN@!H`_63X]?'?X3_`+,?P@U[ MX]?'+Q?'H/A/PS9_:M:U:6"646\9=4&$B5G=B[*H55+$L``(]*34M&UB&&2-;BV89#[)%5T/!!5E#`@@@$8KY#_X+ M`_$?X?1WG[-/[(?CGXA:1I6B_$7XS:;J/B?4O$&KPVMM+H7A^,ZM<"265E0B M6>&QCP3\QEP,YI/^"-WQ+\%'X9?'S]E#P1XVTO7=,^$/QDU^W\-7FCZC%=V[ M:#JQ.L6&R6)F5E07D\/!X,!7C&``?77P$^/'PH_:=^$&A?'GX&^+4UWPGXEM M#*Z^OCW_`(("?\H=_@1_V*!_\%%/^"@OP=_X)T_`"[^, M/Q,N5N]3N=UMX3\,PS!;G6;[;E8D_NQKPTDF,(O/)*J>O_:\_:P^%7[%GP*U MCX]?%V\N!I^F1[;2PL83)=:C=,#Y5K`@Y:1R,>@`+,0%)'\Q?[>7[87[1G_! M03X_:A\=?C%H^JQ(=UOX>\/PV<[6VBV(8E+>(%>3W>3&7?)/&`/H,AR9YG7Y MJFE.._GY(\3.%]8AVBSB`W#5;I&^Z^/FA1ONC]X1DICT/_`(*`?MG^ M+/VGO%3>"?`]CJ5MX%TFXS9Q?9)$.J3+Q]ID&/N]=BGH#N/)P/HLTS!8N?\` M9^#?+3CI)K\D>!E^">&A]=Q2O-_"G^;/SS_X*O\`P9\"_$7XW^*?VHOV;?AP MF@>']3OFN-4\/6J8*M_'?*@X3S#EY(UX4MD?Q5\[_LE?M&3?LQ?&[0_B=>^% MH_$FAVM_"_B'PM""I(/[$?L&?L*:[^T]XP_X2/Q MWIES9>"-*G`U*2:(HVI2#G[+'D=""-[=E.!R1CY>_P""Z7_!%6]_9+\17/[5 M/[*_A.>X^&6K70_MWP_80M(_A>Z:'XBT"_.P MLI2:UG0D,CJ?Q5E/!!(/!KY5_P""3W_!2/XV_P#!-;XVC6(_#.O:O\//$,\< M?C7PO'92G>HX%Y;@C"W$8^@D7*'^$K^SW[9/[+/P^_;6^$NG?MD_LH74&IW^ MHZ4E[LLXR@UVTV_W2`5N4`*X8!CM*$!@*\2M1ED^(^KU7S4I?"^WDSU:519I M0]M35JD=UW\T>X?L3?MD>%?VL_A\+B0PV/BK2XU3Q!HX?HW03Q`\M$YZ=U.5 M/8GVT@'@U^'_`,)/B%\4_@9\0['XD?#U+^RU739CPUI)LE3H\,JX^9&'!4_7 M@@&OUV_99_:7\)?M0_#.#QOH-M)8W\.(=;T>Y4B6RN,A!`^? MS/+_`*K/GIZQ?X'N9=C7B(.['1-3\):IJ!$E_8SI?82:S>X#S1RQL6C\UU93Q7"?# M']@__@H/XB_86_;C\(?M`?#OPO9?$O\`:(U/6=4\)Z+X<\1QSV(-YH%M:P6G MVB39M,4D?D-)($#&(R#Y6!KZ/_9%^-?Q5\>_\%%?VL/A)XP\:W5_X;\"ZEX, MC\(Z3,J"/3%N]%,]R(R%#'S)?G.XGGIBOFO_`(()[ZWCB>>SLM2GT[4]%)C50\MJT,%PO&XQ71/1./)/4/9 M?V;OVB_^"H7@_P`-^`O@WXX_X)%7.FZ9I=AI>C:OXF7X[:#.EK!%'%!+=B!! MOD"JK2>6IW'&!R:YW0/`W[?O_!-CXT?%#2/V:/V0;?XY?"?XG>.;SQIX=M-) M\=V.B:GX4U>_VMJ%G.M]B.:SDN%:>.6,EH_-=60\5YW\1_VQOVH[#_@B!^T/ M^T5IGQJU6V\=>%_B=XLTOPYXGBCA^T:=:VWBMK*WCC!381';XC&5)P.O[4NK_\$\OVIY?BC::'?_'S]IK3M9O]4T/1M2'] MG:5+)I@L-,T>*YE"ATMX(XT:=@`SO(WW<$\K\4/#O_!7+]J[]B!O^"=EQ_P3 MK\-_#.Q\2^!K;P?XD^)7BSXP:?JMOIUA]G2VN;F"QL8VEFG\M7,:%E4.5+-Q M3OV,O@_P#"SX$67A'XUE# M^7(D%K:Q!W49+L5)YQ?^$_[!.I_LI?\`!2;Q+\3?V7?@GX;\,_!SXC_!:+3/ M%.F^&H[33K>P\2Z?>RM:3+9QA=PFM;J9&=%X:)=QY%>0_P#!'G]LO]J?XI_M M%W-C^U%\3[_6=$^/GPRD^*?PCTC4;:*)?#]A'K=W:OIL)1%+K]BN-)F^8LPW ML5[ZW:61HEBCVQHL.'.Y\D`R_P#@GQXH_P""MW[#/[&G@+]DW4_^ M"1$GB:?P1I4EB^O6?QZT"VBO?$8YI(%&4E4@$+\M?/G_!+ MOX'?M;_'/Q/XW^)OQ1_X*E_&W6+3X7?M#:_X5MO#5R-&6RUK3M)NT2-+L+8B M0F521(8W3K\NV@#]*:*_-C]G;X,_MC?MT_%;]HGQLG_!47XQ?#Z#P1^T-X@\ M)>%?#_A6TT>33;.QM(K26$%+JRD>0@W#`@N,A5]S53Q!^WU^UAKO_!"#X]?' M[5/B?:K\4/A3J?BCPM9?$GPQI\=O!K$AXX_-0K:1K5NJ&6UO8]/> M1)E#`KN#@-R",CI7B'QR_:(_:?\`C/<_LT?L)_`#XS7/@WQ;\7/AT?%WQ*^) MMK80W&H:1H-E9VGGM9I*IB6[NKJZCB65D98AYC!20,`'WI17Q=\+OV>/V^_V M?_C]?_LVW7[47Q%^)GP;^(7@'4WLOB;XFETU_$GP[U^$QH@%PD,:W4-Q',SQ M!H7,U=R5+`QM(Y&TC[QSF@# MZFHK\WOA3\+?VN?VXOVP?VGK>W_X*7?%_P"'&D?#;XM0^'O"GA[P9#I!L8+8 MZ/8W1+"ZLI7<^9.^1NQC%6?!W[:W[5%[_P`$FOVL_$?C+XKVVK_$/]G^\\;^ M%M%^*>B:9%:C7)=*LO-MM2\A=T4=PID"2(@,8DA;`ZB@#]&**^&?V:_V`?VH M?%_PZ\`?&;Q/_P`%?/VA+N74]%TG6M1T69M"%K.TD,4\ENP&G;Q$Q8H<-NVG MKGFON:@#RS]L?2OVH=1^`^KW?['6N>'K3Q]IZ?:M&M?%&F?:;/4=H.ZU;YT, M3..%DSA6`R-I)'X9^+/^#C?_`(*I^`_%&H^"/&WA7P!I&LZ1>R6>J:9?^"9( MYK2XC8J\;J9\A@01_P#6K^A\Y["OS4_X+K_\$8[;]L/PQ=?M3_LU>'HHOBIH MMEG5M)MU"CQ3:1KQ'Z&[11B-C]\#RS_!CZ+(,9E].M['&03C+9OH_/R_(\'. M\+C9TO;8:;36Z[_\$]D_X)0?\%4/!O\`P4T^`]U9&\L?#OQ3T"Q$7BG053>B M.1M2_MXW.9+9VQ\N59O*_C[^WM^WE^SC\2KSX9_$+2_":7%N=]G>1: M"_DWUN2=D\9,G*G'(ZJ<@\BOPA_9\_:`^,_[(/QPTGXU_!W7[G0?%7AJ]8!9 MHV4.`=LUI<1G&Z-P"CQM^A`(_H6^!7QO_9N_X+G_`+'U(KT_O2VLN"5;HRCLZ$+Z>9Y32RG$^V4>:C+_`,E_X!YV`S.IF5#V M3E:K'_R;_@FY^P7_`,%*Y_C;XG?X3?'5=-T[7;N0MH%_91&&WO..;S@^`_[/RZ1KGQ5U"..XOH]0C\^TT"S/(>X1 M6&Z:0?(+SX8^(+#[+X_MY?]!M5?(MP#E+W M<.J'AHR/O'Z&OA73M/\`C'^TW\8XM.L4UCQEXY\::T%7>[7%YJE[,W5F/))/ M))X4#/`''9@>'<'6KK%S_A[VZ/S]#EQ>>XJE1>&C\>U^J_X)^A7[/_\`P7B_ MX+"_M0?�_@5\$O!_P\UGQ)K]V(;*TC\',$C7J\TK^?B.)%RSN>%`/L*_8O MXH?M%W_[&7[,VE:Y^T)XJTSQ'XY>Q\KR=%L?L4.J:B1N?R82S&.!2>6))"@$ M_,P%?./_``3Y_87^!?\`P1._96O?C'\:+JSU/XEZ]9HOB'4[?#.\A^:/2K'/ M/EJPRS<;V4NWRJH7Y._:'_:#\??M*?$N[^)?Q`O/GDS'I]A&Q,.GVX.5AC'H M.I/5FR37FXFGA,SQ=L/34:4.J^T_\CNP]3$Y?A;UIMU)=.R_S/9_^'M7[7-U M<[+:U\+%I9,1PQZ"S$DGA1^\RQYP.YK[^_93F_:(U3X90^*OVDVTNWUO4]LT M.CZ9I_D?8(2/E24[FW2'.2.`O3KFOF?_`()G?L`MH*6/[2'QMT/%^ZB;PKHE MW'S:J>5NY5/20CE%/W0=W4C;]SUX^9UL+S>RH16F[/6RZEB>7VE:3UV1\9_L M+D?\/6OVW.>FK>`/_4?:OG#X!?L[?$'XL?\`!#[X0?'S]GK3Q+\7?@;XKUSQ MO\-@N0VH36VN:D+W26(Y,5]9M/;,O0L\9_A%>[ZA_P`%+OV:/A%^U%\8](^# M'_!/7X\^,O%>E^([32?BKXR^&/POBU&WO+ZULHS`DDRW2O*T5M,@4;,A6P`< MC/J7[._[7G["7A#_`()ZZA^U)^STD6A_"+P/I.L:AJ>D6FCO9W.CR6LDT]_9 MRVP^)6@?'C_@UR^/OQ?T/3KFTTSQEX_\` M%6K6MG>?)-##=>+_`#1&^#PRA]IQW%?I-^R1_P`$R?V,?V-O%C_%+]GGX;:O MH^MZAHOV"ZN;_P`=:SJ:-`[1R,HBO;N6-3N13N"AAC`(!(.-^QLO[!?[=/[# M=U8?"/\`9WM].^&'BO7M53Q'\//$GAQ+)XM3347>\CN[1698Y3=(92,G)*GO MBO.]%_X+I?!77-$U/QCX3_8B_:9U?P9HFJW^G7OCG0?A-]NTF,V-Q);74JO; MW+R/%')#(&*QDC8>.#0!\D^'/^"7FB?MO?#C]N?QWX"^(GQ!T/XGP_M#>-K+ MP>/#_P`1-3L-,FN8;>TF@BGL;>=()?-=FB=V4L4<<_*N/8OC+^T_\.-6_P"# M=#0+W]CKP)IO@RX^+/A33/AQX,\'Z-!Y":1KNKW2Z3=V:J/F$D$TEZ68YY:Q^WA^RU^S#X#M?C1^S#^Q]\4/B'X,^+$%SX_U/QI\$_`<>HZ=OA?_`,$Q_P#@J'\>_&W[.7Q]^'D^E?%GX,75LEIK MTMVVA>([2UN($N8-3TJ]MY5FELRS,H;)C$D;AT&1N[']E/\`:^_88_X+9_LS M>(9O#7@R?Q#X2M=>CT[Q)X1\=Z,D-Q%<0F&[MI9(`[X1OW4T4@;G;D8*D#RO M]L3QG_P23_:X_8=E_P""DO[6'[)3^/?"G@J]O=+LY+SPPC:\AAUA])D@BV3( MS1M=*2(S+M96W$9)%`'4?\$6OBY\7/'/PT^+/PD^(?QRO/BMH?PG^,6I>$/` MOQ3U)HY+KQ%ID%O;2@3S1@)=36\LTEN]PO$ABYY!I_\`P1>(/@O]HG!_YN\\ M?_\`I;'4O[*/[^(FIZ?IDES#:64T$4]C;SI!+YKNT M3NZEBCCGY5Q[/\9=<^''[27_``:_^*-7_90^$%IX?TN\^!=P8O`OAZRV#2;N MT.=1LUB&6+Q3P70;.7=E).6;)^F/V5_VMO\`@G]?_LT?$/\`;`^#$]IX+\*V MWB35M:^+IUG1)=*O]*UR&-/[0.IVLJB6*["1Q;E()8;-N[(SYC^RA_P4C_8X M\+^+=$^#FC?L8_%7X&^&_BWXHN+OP5XE\>?#Q=)T'Q7J]^3.PCD2:0V]Q=?- M(D=PD+2D_*-QVT`+_P`%)?VH?V??$_\`P0T^(WQ(\-_%S0]0TCQK\%;C3O"= MQ9:A'*VJWM]8^1:VL"J2TDSRR(GE@;@V00,''$:_<1?L@_\`!1/]D'XL_'.: M+0-`\4?L]7WPLN-6U*016VG>(5&GW]M:S2-A8VG%O<1IDC<\>T"_\` M@DA_P3.^'7QL3]HKP/\`L2?#W3/&,.H-?VNKVN@H!;73')N(8?\`4PRYYWHB ML#R#FO7OC9\"O@U^TC\-[_X0?'SX8Z)XO\,:HJB_T/Q!IZ7-O*5.5;:X.&4C M*L,,I&00:`.$\1?MK_#^R_;2\)?L0^#M)E\2>)-<\+:EXB\2W>DWL31>%=.M MS$D$MX,DC[5-+Y42CDF-VQM&:\8U(C_B(2TD9Y_X8\O./^YI@KWG]EK]A[]D M?]B?0]1\._LI_L_^&_`]MJ\ZRZL^BV6V:]=00GG3.6DE"@D*&8A=QP!DUV#_ M``=^%TGQ>C^/LG@73CXTB\.-H$?B4VX^UKIC3BX:T#]?*,RK)M_O`&@#Y#_: MB\1Z!\+/^"XW[.?C[XBZS;:-HGB3X/\`C+PQHVJZC,(K>?5S=:9=)9^8V%65 MX8I&1207V$+D\4OQ]\7>&?B+_P`%S_VTO(["VM9+C:3Y7FRJRHK8+;20,\-?\$T?!W[>'Q__ M`&]M2L_BA\0?"WCJV^*#]1\*_$34M+LH+MO#6GO;RW%I;3)#<8F<;C(K M$I\N1@5Z#X0\;_"SQG_P;`^/[GX4_##3?!+Z/\!?%.D>*_"6FP>6-+\0V=I= M6^IQR`Y8R&[CED+.2["0,Q);)_1#P+\'?A=\,_$/B;Q9X`\"Z=I&I>,]7&J^ M*KVR@"2:I>B%(1/,?XW\N.-,^B"L2U_95_9RL?!/CCX;V?P:T&+0/B5J%]?^ M/='2R`M]?#VP2[O;SXFZI>QL;FSA:8?9KF]D@4ENF(QMZ+@5]K5\HVG_!#'_@D M)8W<5]9_\$]OAI'-#*LD4B:"`593D$<]B*^KJ`"BBB@#\B/^"_G_``1;;XB6 M^J_MU_LF^$=WB&"-KGXA^%-.@YU6)1EM0@1>MPH&9%',JC?@%X@2VU&"(P7^G789[/5;5OO6]Q&I&],X8$$,K`,I!%?U MOD`C!K\.O^"^W_!%>7X::GJG[*?&?B_55WE(S)+<3R,$BMX8U^ZHRJ1QJ,`` M`"OL7]E/]E?QG^R'XA'BKQQ8WFB?$FPN%+(V8Y]#<881J>TG0LPX(X&1U^ZO M^""'_!%M/V>M)T_]M/\`:J\+*?'VHVPE\'>&[Z+/_".6SKQ<2J?^7QU/0_ZE M3C[Y;;];?\%"_P!A+3OVD_#3?$3X>V4-OXXTJVQ"1A5U6%03]GD/3>.=CGH? ME/!XZ\?Q'A5B?J=)?NUHWT]/0YL'D>)>'^M5/C>MNOKZGYX_M#_M0?%O]IW7 MK'7OBGK$<@TVS6"SLK2/R[>,X`>4)G&]R,L?H!@`"OI3_@FC^P&?'=U9?M$_ M&K1?^)+!()O#.C74?%_(#D7,BGK$#RBG[Y&3\H&[F?\`@GU_P3ZUGXT>+6^( MWQJ\.W5CX5T2]:+^R[V%HY-4NHVPT14X(B1@0Y_B(VC^(C].+6VMK&VCL[.W M2*&&,)%%&H544#```X``[5X&99A"C#ZOA].]CV*-`AT]Y#):VO]EV5IY.OC!_P4@^&/[4_BS6-'E\!?"SP!KEMH>AR;WNY/$.IR0PR714KY M8B2RB9%.XMNE;@#F@#YW_P""/G[7W[-GQ6_;D_:K^"O[,7QCT;QAX/U3Q-I7 MQ'\,7FB2,84?4K-+;5(0&5<%+RT20@#'^E`]2:^:_P!C[_@I#^V+^PO_`,$X M]6\2^$/V`K77O`MO\9O%6F6'Q7UGXG6EKIMI0;B'*_+*V#G@\A^S3_P33E\,_P#!-/QG_P`$_OVC]2TK5;?Q MKJ'C'^T;K1S(\4=MK&J7MW`Z&1582Q+Z8[M:RSPVXC9XRZJQ0D<$J#CM0!^<'_!/&23]A#X*?LC?\ M%`M-Q:_#_P"*_@'2OAG\WDEV+)(/B--M0M_""V`3VSFON;]G7_`()V:?I' M_!)W0/\`@FO^TW-IVM0K\/'\-^)+G1VX1Y+IFC5F`B!.1MP217T_X!U[_ M`(+A/XUT:#XF?#;]E^#PV=2@77IM#\3>('O$L]X\XP++;!&E";BHLZ3=Z)\8]>\.WN@6-H9&GMHK#18K"9;@,H7+2 M(64*6&TC.#Q0!\X?L=_L.C]NK_@G3\:?''QQ\>:793_MI7#>+[@>!)VN+7PU M:W%A:P:?#$\JH;B>%+:)YF94#R[UP`,FGXB_:L_:E_8^T;PS\'_^"TO[*GA/ MQU\+K;Q#I5KI_P"T/X$B6[TFROHKB,:?>ZOI-POG:=()Q"?M,1>))2-N!BO5 M?V>_^":'C_X;_L6_%W_@GWXD^,%UHW@?6_%6MR?![Q#X+U2XM]6\+Z-?2_;( M++:IP"17G/Q5_9%_X+'?MC?!^+]AW]KKQQ\#;3X;7MS8P M>/OB7X3?4I->\3Z9;7$4S11:?-$MO8W%QY2K))YLBIN
-----END PRIVACY-ENHANCED MESSAGE-----