-----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, DMZKeSn6brsE8+1s/w85yBd0XGXPsBBjvOHTjy/cxmXsUY7XyI8QgfKb1S/aHSYM 8fAeNoYVoQGW4DsU2HkAfw== 0000947871-08-000348.txt : 20080605 0000947871-08-000348.hdr.sgml : 20080605 20080605161857 ACCESSION NUMBER: 0000947871-08-000348 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20080605 DATE AS OF CHANGE: 20080605 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: TARO PHARMACEUTICAL INDUSTRIES LTD CENTRAL INDEX KEY: 0000906338 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-49231 FILM NUMBER: 08883392 BUSINESS ADDRESS: STREET 1: 14 HAKTOR ST CITY: HAIFA BAY STATE: L3 ZIP: 26110 BUSINESS PHONE: 9143459001 MAIL ADDRESS: STREET 1: THREE SKYLINE DR CITY: HAWTHORNE STATE: NY ZIP: 10532 FORMER COMPANY: FORMER CONFORMED NAME: TARO VIT INDUSTRIES LTD /ISRAEL/ DATE OF NAME CHANGE: 19930601 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SUN PHARMACEUTICAL INDUSTRIES LTD CENTRAL INDEX KEY: 0001197089 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 000000000 FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: SPARC AKOTA ROAD CITY: VADODARA STATE: K7 ZIP: 390020 BUSINESS PHONE: 01191228212128 SC 13D/A 1 ss39504_sc13da.htm


 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
SCHEDULE 13D/A
(Amendment No. 5)
 
Under the Securities Exchange Act of 1934
 

 
TARO PHARMACEUTICAL INDUSTRIES LTD.

(Name of Issuer)
 
 
ORDINARY SHARES, PAR VALUE NIS 0.0001 PER SHARE

(Title of Class of Securities)
 
 
M8737E108

(CUSIP Number)
 
 
Mr. Sudhir V. Valia, Acme Plaza, Andheri Kurla Road, Andheri (East), Mumbai 400 059, India

(Name, Address and Telephone Number of Person Authorized
 to Receive Notices and Communications)
 
 
June 5, 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 § 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g) check the following box o.
 
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See § 240.13d-7(b) for other parties to whom copies are to be sent.
 
* 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 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
 
 
 


 
SCHEDULE 13D/A
 
CUSIP No.  M8737E108
 
Page 2 of 7 Pages
         
1
NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
 
SUN PHARMACEUTICAL INDUSTRIES LTD.
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) o
(b) x
 
     
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
PF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
 
o
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
The Republic of India
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
7
SOLE VOTING POWER
 
17,346,057*
8
SHARED VOTING POWER
 
0
9
SOLE DISPOSITIVE POWER
 
17,346,057
10
SHARED DISPOSITIVE POWER
 
0
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
17,346,057
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
40.12%**
14
TYPE OF REPORTING PERSON (See Instructions)
 
CO
 

*            Includes 3,770,833 Ordinary Shares acquired by Alkaloida Chemical Company Exclusive Group Ltd. (“Alkaloida”), an indirect subsidiary of Sun Pharmaceutical Industries Ltd. (“Sun”), on May 21, 2007 and 3,016,667 Ordinary Shares acquired by Alkaloida on May 30, 2007, in each case pursuant to the share purchase agreement dated May 18, 2007 (“Purchase Agreement”), between Alkaloida and the Issuer, which entitled Alkaloida to acquire a total of 7,500,000 Ordinary Shares; 58,000 Ordinary Shares acquired by Sun Pharma Global, Inc. (“Sun Pharma”), a direct wholly-owned subsidiary of Sun, on July 11, 2007 and 500 Ordinary Shares acquired by Sun Pharma on July 23, 2007, in each case in open market transactions; 3,000,000 Ordinary Shares acquired by Alkaloida on August 2, 2007, pursuant to Sun’s rights under the warrant, dated May 18, 2007, issued by the Issuer to Sun (the “Original Warrant”); and 3,712,557 Ordinary Shares acquired by Alkaloida on February 19, 2008, from Brandes Investment Partners, L.P., for and on behalf of certain of its investment advisory clients (“Brandes”).  This amount also includes 3,787,500 Ordinary Shares which Sun, under certain circumstances, has the right to acquire pursuant to a warrant issued to Sun by the Issuer on August 2, 2007 (“Warrant No. 2”).
 
**          Based on 36,453,118 Ordinary Shares outstanding as of June 7, 2007 as reported by the Issuer in its Proxy Statement filed on Form 6-K on June 11, 2007; 3,000,000 Ordinary Shares issued pursuant to the Original Warrant; and an additional 3,787,500 Ordinary Shares issuable upon exercise of Warrant No. 2.
 

 
SCHEDULE 13D/A
 
CUSIP No.  M8737E108
 
Page 3 of 7 Pages
         
1
NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
 
SUN PHARMA GLOBAL INC.
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) o
(b) x
 
     
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
PF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
 
o
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
The British Virgin Islands
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
7
SOLE VOTING POWER
 
13,558,557*
8
SHARED VOTING POWER
 
0
9
SOLE DISPOSITIVE POWER
 
13,558,557
10
SHARED DISPOSITIVE POWER
 
0
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
13,558,557
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
34.37%**
14
TYPE OF REPORTING PERSON (See Instructions)
 
CO
 

*            Includes 3,770,833 Ordinary Shares acquired by Alkaloida on May 21, 2007 and 3,016,667 Ordinary Shares acquired by Alkaloida on May 30, 2007, in each case pursuant to the Purchase Agreement; 58,000 Ordinary Shares acquired by Sun Pharma on July 11, 2007 and 500 Ordinary Shares acquired by Sun Pharma on July 23, 2007, in each case in open market transactions; 3,000,000 Ordinary Shares acquired by Alkaloida on August 2, 2007, pursuant to Sun’s rights under the Original Warrant; and 3,712,557 Ordinary Shares acquired by Alkaloida on February 19, 2008, from Brandes.
 
**          Based on 36,453,118 Ordinary Shares outstanding as of June 7, 2007 as reported by the Issuer in its Proxy Statement filed on Form 6-K on June 11, 2007; and 3,000,000 Ordinary Shares issued pursuant to the Original Warrant.
 

 
SCHEDULE 13D/A
 
CUSIP No.  M8737E108
 
Page 4 of 7 Pages
         
1
NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
 
ALKALOIDA CHEMICAL COMPANY EXCLUSIVE GROUP LTD.
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) o
(b) x
 
     
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS (See Instructions)
 
PF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
 
o
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
The Republic of Hungary
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
7
SOLE VOTING POWER
 
13,500,057*
8
SHARED VOTING POWER
 
0
9
SOLE DISPOSITIVE POWER
 
13,500,057
10
SHARED DISPOSITIVE POWER
 
0
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
13,500,057
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
34.22%**
14
TYPE OF REPORTING PERSON (See Instructions)
 
CO
 

*            Includes 3,770,833 Ordinary Shares acquired by Alkaloida on May 21, 2007 and 3,016,667 Ordinary Shares acquired by Alkaloida on May 30, 2007, in each case pursuant to the Purchase Agreement; 3,000,000 Ordinary Shares acquired by Alkaloida on August 2, 2007, pursuant to Sun’s rights under the Original Warrant; and 3,712,557 Ordinary Shares acquired by Alkaloida on February 19, 2008, from Brandes.
 
**          Based on 36,453,118 Ordinary Shares outstanding as of June 7, 2007 as reported by the Issuer in its Proxy Statement filed on Form 6-K on June 11, 2007; and 3,000,000 Ordinary Shares issued pursuant to the Original Warrant.
 

 
This Amendment No. 5 amends and supplements the Statement on Schedule 13D originally filed by the Reporting Persons with the Securities and Exchange Commission on July 3, 2007 (the “Original Schedule 13D”); the Amendment No. 1 to the Original Schedule 13D, filed on July 25, 2007 (the “Amendment No. 1”); the Amendment No. 2 to the Original Schedule 13D , filed on August 2, 2007 (the “Amendment No. 2”); the Amendment No. 3 to the Original Schedule 13D, filed on February 19, 2008 (the “Amendment No. 3”); the Amendment No. 4 to the Original Schedule 13D, filed on May 30, 2008 (the “Amendment No. 4”, together with the Original Schedule 13D, the Amendment No. 1, the Amendment No. 2 and the Amendment No. 3, the “Schedule 13D”), with respect to the Ordinary Shares, par value NIS .0001 per share (the “Ordinary Shares”), of Taro Pharmaceutical Industries Ltd. an Israeli corporation (the “Issuer”), whose principal executive offices are located at Italy House, Euro Park, Yakum 60972, Israel.  Unless otherwise indicated, each capitalized term used but not defined herein shall have the meaning assigned to such term in the Schedule 13D.
 
Item 4. Purpose of Transaction.
 
The response set forth in Item 4 of the Schedule 13D is hereby amended and supplemented by deleting the final paragraph of Item 4 and replacing it with the following:
 
On May 28, 2008, the Issuer released a press release referring to a contemplated sale of its Irish operations and further added that “[a]bsent the constraints of the Merger Agreement the [Issuer] plans to pursue all options available in order to enhance shareholder value, including … a sale of assets.”  The Respondents intend to vigorously dispute the validity of the termination of the Merger Agreement.  In furtherance of this intention, Sun objected to the Issuer’s plans to pursue the sale of its Irish operations in a letter to the Issuer’s Board of Directors, dated June 5, 2008 and issued a press release attaching the letter, filed hereto as Exhibit 99.17.
 
In light of the foregoing, Sun and its affiliates are now considering all of their options and will make a decision as to how to proceed at the relevant time.
 
Item 7. Materials to be Filed as Exhibits.
 
 
Exhibit No.
Description
 
99.17
Letter, dated June 5, 2008, from Sun Pharmaceutical Industries Ltd. to the Board of Directors of Taro Pharmaceutical Industries Ltd.


 
SIGNATURE
 
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
 
 
Dated:

June 5, 2008
SUN PHARMACEUTICAL INDUSTRIES LTD.
 
     
     
          /s/ Dilip S. Shanghvi  
                                    Signature  
     
     
  Mr. Dilip S. Shanghvi   
  Chairman & Managing Director  
                                     Name/Title  
     
     
  SUN PHARMA GLOBAL, INC.  
     
     
        /s/ Harin Mehta  
                                     Signature   
     
     
  Mr. Harin Mehta  
  Managing Director   
                                      Name/Title   
     
     
  ALKALOIDA CHEMICAL COMPANY   
  EXCLUSIVE GROUP LIMITED.   
     
     
        /s/ Harin Mehta  
                                     Signature    
     
     
  Mr. Harin Mehta  
  Director   
                                     Name/Title    
     
 

 
EXHIBIT INDEX
 
Exhibit No.
Description
99.17
Letter, dated June 5, 2008, from Sun Pharmaceutical Industries Ltd. to the Board of Directors of Taro Pharmaceutical Industries Ltd.

 
 



 
EX-99.17 2 ss39504_ex9917.htm
 
17/B, Mahal Industrial Estate,
Mahakali Caves Road,
Andheri (East), Mumbai 400 093 India
Tel.: (91-22)  6645 5645
Fax.: (91-22) 6645 5685
 
 
FOR IMMEDIATE RELEASE
 
Sun Pharma Comments on Taro’s Potential Sale of its Irish Operations
 
Mumbai, India: June 5, 2008: Sun Pharmaceutical Industries Ltd. (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUNPHARMA, BSE: 524715) today sent a letter to Barrie Levitt, M.D., Chairman of Taro Pharmaceutical Industries Ltd. (Taro, Pink Sheets: TAROF) regarding Taro’s comments about its Irish subsidiary, in the Company’s press release dated May 28, 2008, which Sun believes indicate that Taro intends to pursue a sale of these operations.
 
The full text of Sun Pharma’s letter to the Taro Board appears below:
 
June 5, 2008
 
Board of Directors
Taro Pharmaceutical Industries Ltd.
14 Hakitor Street
Haifa Bay 26110, Israel
 
Taro Pharmaceutical Industries Ltd.
Italy House, Euro Park
Yakum 60972, Israel
 
Dear Sirs and Madams:
 
We refer to the press release dated May 28, 2008 of Taro Pharmaceutical Industries Ltd. (“Taro”) regarding, among other things, Taro’s purported termination of the Agreement of Merger, dated as of May 18, 2007 (the “Merger Agreement”), among Taro, and our affiliates, Alkaloida Chemical Company Exclusive Group Ltd.  and Aditya Acquisition Company Ltd.
 
In the press release Taro makes a point of mentioning the monthly costs of operations in Ireland and that while the company reached an agreement in principle after the date of the Merger Agreement to sell Taro Pharmaceuticals Ireland Limited (“Taro Ireland”), an Irish subsidiary of Taro that owns and operates the multi-purpose pharmaceutical manufacturing and research facility in Roscrea, Ireland, to a group of Irish investors, “Sun repeatedly refused to consent under the Merger Agreement to the sale of those operations.”  At the end of the press release, Taro goes on to add that “[a]bsent the constraints of the Merger Agreement the Company plans to pursue all options available in order to enhance shareholder value, including… a sale of assets.”
 
The clear intimation is that Taro intends to pursue the sale of its Irish operations now that it purports to have unilaterally terminated the protections afforded to us under the Merger Agreement.  As you know, we  had several reasons for withholding our consent to the sale of the Irish operations, including, without limitation: (1) concerns regarding the sale process and the fact that the agreement in principle Taro reached with the Irish buyers significantly undervalued the Irish operations, (2) the Irish operations presented Sun with considerable strategic and synergistic value as part of its merger with Taro; and (3) the facility has the potential to produce substantial revenues for Taro in the future and any sale now is premature.  Given the number of injectable products which have been approved, or are in process for approval, by the Irish authorities, and the access this provides to Europe, we believe that the Irish facility is of strategic importance to Taro.
 
Our understanding is that to date Taro’s Irish operations have been loss making since the time the Roscrea facility was acquired in March 2003.  While Taro’s Form 20-F filed in March 2007 listed several measures being pursued by management for liquidity improvement, the Irish operations were not cited as a drain on Taro’s liquidity, nor was the sale of the Irish facility listed as a remedial option.  In fact, at no point in time during the financial crisis that precipitated the entry of the Merger Agreement, did Taro identify the disposal of the Irish facility as a measure to
 
Registered Office : SPARC, Tandalja, Vadodara – 390 020.  India
Corporate Office : Acme Plaza, Andheri – Kurla Road, Andheri (East), Mumbai – 400 059.  India
 

 
 
17/B, Mahal Industrial Estate,
Mahakali Caves Road,
Andheri (East), Mumbai 400 093 India
Tel.: (91-22)  6645 5645
Fax.: (91-22) 6645 5685
 
 
ease liquidity despite the monthly operating costs related to those operations.  Nothing prevented you from pursuing this option prior to May 2007 during Taro’s most dire liquidity period.
 
We believe that it is only appropriate for Taro to educate all shareholders as to the process followed by Taro in soliciting and shortlisting the currently identified buyer for the Ireland facilities.  We have several legitimate concerns with regard to this process and the real motives of Taro’s Board of Directors in pursuing the sale:
  
First, why is the value of Taro Ireland in the proposed sale agreement less than the real estate value of the facilities?  In our view, the agreement in principle with this particular buyer significantly undervalues the entire facility – even if one were to take into account only the existing asset base and ignore any future growth potential.  If one were to add the potential revenue and profit from sales of products across Europe, the attractiveness of the entire Irish facility and operations increases multifold.
  
Second, we understand that the proposed consideration for Taro Ireland includes earn-out payments based on future profits of the operations over a long period of time.  While we anticipate strong future growth potential, such earn-out payments are contingent on the performance of the third party buyer and, if payable, are only received at some future time by Taro.  To date, Taro has neither been able to reconcile the valuation nor provide evidence that this is the best offer available.
  
Third, Taro has provided no evidence of a transparent sale process.  Given the undervaluation mentioned above, and the fact that the identified buyer is personally close to senior Taro officials, we have doubts as to the arm’s length nature of this transaction.  This close relationship between Taro’s management and the proposed buyer is especially troubling, given Taro’s repeated refusal to consider Sun as a potential buyer of the Irish facility on the grounds that we were a “related party” and the difficulties that Taro’s management claimed were inherent in such a transaction with a related party.
 
Sun vigorously disputes the termination of the Merger Agreement by Taro and will not stand by idly if Taro pursues actions contrary to the spirit of the Merger Agreement that strip the company of assets of strategic importance to the company’s future operations and that Sun would otherwise have had the opportunity to preserve and subsequently develop had the Merger Agreement not been wrongfully terminated.
 
Given that Taro knows that Sun views the Irish facilities as having strategic importance, we believe that any plan by Taro’s Board of Directors to divest the Irish facilities is part of a concerted effort to discourage Sun from pursuing its rights to acquire Taro.  The Irish operations represent significant future business opportunity for Taro, and all shareholders of Taro should question the motivations of members of the Taro Board should they decide to divest the Irish facilities or any other assets of the company in the current circumstances, especially if such dispositions are to buyers with close ties to Taro’s senior management.  Certainly, Sun, as Taro’s potential owner, will scrutinize the transaction process and the terms of any such proposed transaction and will hold directors of Taro liable for any breach of fiduciary or other duties that may arise from such a transaction.  These and other facts and omissions by Taro (and its founding shareholders) give rise to substantial claims that Sun intends to pursue, all of which are expressly reserved.
 
We may publish an advertisement in the Irish press notifying any potential buyers of Taro Ireland or its assets of Sun’s intentions should any such sale proceed.
 
Very truly yours,
 
  SUN PHARMACEUTICAL INDUSTRIES, LTD.  
       
  By:    
  Name: Dilip S. Shanghvi  
  Title: CHAIRMAN & MANAGING DIRECTOR  
 
 
Registered Office : SPARC, Tandalja, Vadodara – 390 020.  India
Corporate Office : Acme Plaza, Andheri – Kurla Road, Andheri (East), Mumbai – 400 059.  India
 

 
 
17/B, Mahal Industrial Estate,
Mahakali Caves Road,
Andheri (East), Mumbai 400 093 India
Tel.: (91-22)  6645 5645
Fax.: (91-22) 6645 5685
 
 
 
About Sun Pharmaceutical Industries Ltd.
 
Established in 1983, listed since 1994 and headquartered in India, Sun Pharmaceutical Industries Ltd. (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE:SUNPHARMA, BSE: 524715) is an international, integrated, speciality pharmaceutical company.  It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in India, US and several other markets across the world.  In India, the company is a leader in niche therapy areas of psychiatry, neurology, cardiology, diabetology, gastroenterology, and orthopedics.  The company has strong skills in product development, process chemistry, and manufacturing of complex API, as well as dosage forms. More information about the company can be found at www.sunpharma.com.
 
Contacts
 
Uday Baldota
Mira Desai
 
Tel
+91 22 6645 5645, Xtn 605
 
Tel
+91 22 6645 5645, Xtn 606
Tel Direct
+91 22 66455605
 
Tel Direct
+91 22 66455606
Mobile
+91 98670 10529
 
Mobile
+91 98219 23797
E mail
uday.baldota@sunpharma.com
 
E mail
mira.desai@sunpharma.com
         
Brunswick Group for Sun Pharma
   
Nina Devlin / Erin Becker
   
+1 212 333 3810
   

 
 
Registered Office : SPARC, Tandalja, Vadodara – 390 020.  India
Corporate Office : Acme Plaza, Andheri – Kurla Road, Andheri (East), Mumbai – 400 059.  India
 
 

GRAPHIC 3 logo.jpg GRAPHIC begin 644 logo.jpg M_]C_X``02D9)1@`!``$`8`!@``#__@`?3$5!1"!496-H;F]L;V=I97,@26YC M+B!6,2XP,0#_VP"$``("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(" M`@("`@,#`@(#`@("`P0#`P,#!`0$`@,$!`0$!`,$!`,!`@("`@("`@("`@," M`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,# M`P,#`P,#`__$`:(```$%`0$!`0$!```````````!`@,$!08'"`D*"P$``P$! M`0$!`0$!`0````````$"`P0%!@<("0H+$``"`0,#`@0#!04$!````7T!`@,` M!!$%$B$Q008346$'(G$4,H&1H0@C0K'!%5+1\"0S8G*""0H6%Q@9&B4F)R@I M*C0U-CH.$A8:' MB(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7 MV-G:X>+CY.7FY^CIZO'R\_3U]O?X^?H1``(!`@0$`P0'!00$``$"=P`!`@,1 M!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:)BH*#A(6& MAXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3U-76 MU]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_``!$(`(,`70,!$0`"$0$#$0'_V@`, M`P$``A$#$0`_`/W[SCVQ^'6H;:TVL'X#3V`^OI32ML[-!M_5A>>/Y=*5K-#V MVTL-;@\<9XXX(SWHE[NWN^GH&WR.#\>_$SP5\,=,CU+QAK4.FK<&2/3M/BCE MOM9UB=%W-;Z1I%FDEU?R#Y=[1Q^7'O#2O&OS#S,USC*\CPD\;FV.I8#"QTYZ MLE%-_P`L%O*3Z1BFV>CE63YGG6+IX'*<%5QN*FU:%*+?*F]93?PP@MW*322W M9\F:U^VE7-K^&I2K3C?7WN1**\]>J)]!_;8M!=QP>,?AQJNFV1VB35_"FL6WB98"Q"M M)-H]S::=>F%3DG[*+R3`.V-FX.N4>._#^+E"GF6"JY;*4FG*_-"*6UFTE9]7 M*5-*_5:F&;>!/%.!H5*^`Q&'S14[OV5-RIU6E_+&=E)_W4[[6OT^P?"'C3PK MX]T6W\1>#MT:X9XTO+&0GR9XB!-:7EO*J3V%]&2!);7,44T9.'05^SY; MFF`S;#0Q>78J&(H3BG>+5XWU2G'XH2\GNM5=:GXYC<#B\MQ%3!XW#5,)B:+M M*G4BX2BUY/SZG4CT^[W`_K7H1T1RV^0OM_\`6I6UMM^@`..!QC^E6E;3L+;; MH'2I^$/P$P>W^&/\*:NEMMTV&K+Y?(;TZ#';UQ2>ENGZ7"W;_(8P;G:P48X/ M(.<^G3&*RFI?9E[-=^J?Y?AJ-673_(\V^*GQ2\,_"?PM`I.5?&U848:/E@YOXI-;1BKR M;Z139^27B/Q)KWB[7]0\5^*;Q-1\0:HP2XF1Y!::?8AF>'2-&AD8_8]&M6;9 M'$@S(09IR\SLY_A+B_BW,^+\SJ8[,*LXT8N7U7#+^%AX7M&$8+3G<=9S^)N_ M0_NG@_A'*^$_U/5+OY[+1]+MIK_4;A%.UI4M(<^1;+GYKJ;;VM:5H1;MI%-S?2+/9S?/C6`D0/#;ZOXMM;>\VDDMYL.G:;?1 M0R=]OGL1OYP0A4:YG&EAJU:.S=HU'*DIN*6JBF]DD[GPM M7Q/PT9MX3(L76A%JTJE6A0D[_P!W]XUIW:O;[]7POK'Q8_9_\2CQQ_PAVK?V M,LD0\9VGA^_M_$6B>(O#\*@7#:A;:>%O;36;2W)ELM2?3_W:7[+-)C[ M/@[+.)N#\PISRS,L-G&7S]VO@E*>&Q'+=2E[*AB.6,U>33A2JR:DW4IQ=2+C M+X+C;&<+<;9?.6+P.(R'/:$)2PV)JTXU,//EO:C7Q&'=3EA*S4)58047;FG& M+/UW\.>(-(\4Z%H_B7P_?0:CH>NZ=9ZMI.H6[JT-U87\"7-M,A!XW1R+E3@J M)H4J\+QA4BI)27+)7WC..\9Q=XS3VDFNA_,=2$J4Y4Y*S@[ M.VVG5-;IK5/9IIFT2`,#(_2NIKY+[B+6\OP%`P![#UQ0M-.POP#CZ4E?_#8` MSZ<=_3%-.WDPL)QTZ=2.WZ4E;Y=AK38XSQUXN@\%>'KG5Y;VKT=DM MG=^1U8/"U<9B:6&H1]^J[+HDMVWY)79^7WQUNK^;Q%X7;6;[^UM>O;;6]?UG M4YE0,9(IK33M+TW3+?).E>'[-=2U5;>T7^+][,TMPSRO_+OBKGN+QV50C4E* MG'&XJ-/V<9>XJ="'M7&R25W-TFTTG[OK;^G_``JX>P>"S:HX4XRE@,(Y.=K/ MVM:7LD[]W!5+6NDFEO9GB,B:U>W5AHWAK1M0\1>)=XNI1N MFN)09(XX--LX1+=7-S-)#%%%"Q>12RY_*>$>%\7Q7G-#*L*O94DG5Q-:R2H8 M>#7/4DWHI2NH4XWO*I**2>Q^L<6\3X#A#)<1F^*:M;$5+^S@DM;* MTIS:VIQE)M'WQ\._V9?''A[0?*_X2[PQX0U*]6&XU.2S\,R^--9O[K82\FL^ M(-0U+3()F3=MCM+&RCM+8*4@:13YC_UMEW`&48+"T<)'&5H8>C%J%##4Z=&E M3ER6E4C.K&I5JU)2O)U)\KG?6,=(K^0LS\0,UQN-KXQX6FZ]>3;K5YSG4Y=. M6FJ<)0A1IQU4:<7+E7VFW*3H>,_#/QO^%MOM&H^:FK-^\JDHJ6LE&*9+X2\8Z#XQTN#6_#.H?;=.D)C?]VUO=6-R ML:N;2_LYMLUG=J)`YC/4%74LC*S?GE*O"I>%-M2I2Y90E&TH33M9P>OQ\SYJ MEM6M4T]G MJ_B[15=WM=$DNW$;^,-&@`VV`BD*RZI;1JD?NPN^91;VES;IJ.MG%RDVHMI6\M7ULFNM_LE&5E5D8,K#*E2"K`X(8$<%2#D$=^./#NGJ+PJY%\+'M!EB@U!+=F_U;7OB&.^,S+_`*Q--LP21&*_6/!CA[#X#A## MYBX*6+SNI4Q%6:LW[.G*5+#T]-8QC%.=KZSJ-OH?DGC9G]?,>+ZN5QG)8+(J M=.E"G=J/MZU.%6M5MMS-3A33W48:6NT?;0B48P!QP!Z>N*_8U0@ME:WR/QWF M#8@P,8`Y';&*KV=/2\%ILA7>MM$?EG\7-%M_@G\:]8U;P[;+!H>J66G^(M3T M*U1U@U#PYJMSJ":M:6]JFV+^T=+U*QU6]TYE&Z-;TV0Q#<8'\\^)7LN&^+LO MQM-1C@.)*;EB*>T:>,HRA1G7BFTH^WA*DZMK)U(^U?O1=_Z&X`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`FH27'P[TRS)+-HNI:[H,!;(46FG:M/*"YXKT^& M<3.ODV75:C]^=.,DI6^):+31I<[F^:,E+35;'RW$V"IX+.\UPU.T:-#$2LHI MKEC/WXQLDOAC+EVL]^I];_!JV$?@E+Y1B/6M?\3ZW;D9"R6=]KU^;&X3Y5_= MSV4=O.IYR)P02#D_T+D5+V.3X".NM*,E>]TIZQWU^%J]]4[IZGX3G-2-3-,9 M*&D54KU:?FN6SNFKIW3UNCDM8\)ZE!XI ML?B'\/\`6(_"?Q"TNW-B]_-:MJ/A[Q9H3,CS>&?&^E1302W^ELT*/!=V\L5[ M8R)')!*RJT$O3@,PG@*T*M--SI:4Y)RYX*3;E'6UZ523G*I2J*4&O>BX34:D M>'-&?L'C+P[,Z;1YEGJ-I*;IN/+=Q;;M5E3E#;6-YV(X6S*A4<*455BK6:NGK9.R2 M=TFVG+3:[2/(/CC^TQXHT[P\VD>`=$N/!VN^(89;72M<\6#3I-=LXB&CO-8T MSPE9W=RL,%FIWF_U:X@B27RHX[.\DE$8\?B3Q&RO(\NKXN$9SG3O&G&5HNI4 ME&].$$F[\TFE*2OR14FW&USWN%_#S-.(,SHX%VH0*.`3W-U(F6ENKJ82W=]/*WF7.H7DS?ZZ]N;EY9Y96YDDED M8\M7\4YCF.*S'&8O'XNHZE?&59U:LFW\$M5UR_1?$-PQRMO)+ID:PZ;$2K3W,T;(#%;SO%_4'`/#U3 M$X'*Z%:/L\-A1^%N^M]]V_-ZW]6:/J M,_TQFM-M?^`0,QCH,?I4O39+[B]B3_/I5)Z\IH8Y-+\;6=C]_0=?LI'2& MXNY+/?'9ZAF*Y@D2&,7"6[.M>%G^40SC`5<-%0I8V$)/"57[JA55Y1A4T:E1 MG+W9QDI*-_:)('T_R;B"0PW,%SI&O:<)],O( M75EDMVN)F5@RD\<_S!C.+Z.48S$Y9G.`Q.6YCA)2A5P\Z=U"25ER2C.5X3BE MR58J,)1DIQ33/Z6P_!&8X_#8?'Y-C<)FV78R"JT:T)RI\\9:ZQ<;1UO&47-R MA).,DI)E;6_CUXQOH?(T#P]HWAEFCV&_U+4I?$-_&689EM["SMK.U690!@SS MSH"!E7'!\_%>(^`@I?4L%6KU+/6I:E33NFKV[B]CQXF>:]N]1O[N\U35M1(?4M7 MU.59[JZ921'%N"JEK:1`L([6WCB@C!.V,%F+?F><9QF&=5E7QM=2]G=4:,$X MTZ,6[N-.%W:[=Y2;E.763T/U3*,AR_(\,Z&`I\K=G.H]:U5Q5DYRV=E\,8VA M'51BKN_8^`OAYK/Q5\46_@O0C%O#LP:*?41)(&1=8N8U MDM].MW5C).WG,I@M9B/M/#/@7%<6YQ3Q%>E*.0Y54C4Q=1WBJTHR4HX.G*UI M3JNWM&K\E+F;U<4_B/$WCC#\&Y)5I4*\'GN/A.E@J-[S@W[L\5.&G[JAS75[ M*I5Y8*_O-?K1X#^'WA?X;:'!H'A:Q:VMHX[9+F\N96N]5U*2TMH[2"XU._)(T4!8HD4)#''&`H_MBC3IX:E&C0HQP]&#DU"&B3D[N7>4F]Y.[>G1' M\15JU;$595J]256K*RK9VXX&/Z8KIC>VJWZ[&+5AX`X& M#]>E:)>5B=O(7_QWV%#=M$'X!D9QT]*2?1#M;I:PN<<=/2B[CIV%MMI883[8 MQTXZ5#?DTMO3J4EIIH&.V-H_+'7O1:ZMTMIUT_K;N&WR^1\W_%O]FCPC\2;N M?Q%IMU-X-\93J!S4(Q MDUM)=/%SKZ0./K4JE'A_(H8";34<1C:JKS@WKS1P]-1IN7^.I*/>+6C^X?`' MP[\)_#/1$T#PAI2:;9>8;F\GDDDN=3U:_9%274M7U&MYSEO*,JXW'8AWJ5:LN:3[)6M&$([1A!1A%:1BD=ST[?_`%J]*/2/*FNB MTT]?,X+6^0[^8Z8&.M:7=ETMLK/;^M?,/P'C.,?=XXZCTJ]?\).BV$XP.O\` MAZTVMM.4+6\CC/B)X]\,_"WP-XJ^(GC"]_LWPSX.T6]UW6+I5$DJVEG$7\BV MBR/.O+B7RK>&+(\R6>-`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`+5ZG[>?`;PG^TE:Z M=X;\3_&_XW:7XKN]2T**[UCP%H7PT\-^'-'TW4-3LH;B&VB\26TK:A>3Z?+( M5>54ABG93^Z5<&L90IQW+\V?)O[:?C+]M']FSP+:_$WX=_&71/'VB7/BZQ\/:MX>UGX3^%; M'4="7Q)>-:>')=.OM/E*:A:'47MM-D%S&DOF75M(';>X1PP].:DX8BM3<7L_ M8V:;V3]E=6ZW;NKZJVK551LGAJ+5MTZR=UNVO;6U\DO34]#^*TG[;G@']F[_ M`(6+:?&#X>-\3?`?A/7/&'CW0G^&-D^CZ_;P6\.K2Z1I=Z^I`:5>Z-817D`G M6U:._<;F2#Y2)A3I\[@L76BXOW)Z'-JS6%I6>Z MYZNBZ.-I)^;4I2UV:2L_S$^''_!4[]ICPE\<_#7A#]H>Y\-67@VR\5Q:#\0[ M&U\&6.EZII5E=%K234H;NWG#)'9RW%M?%D#B6WB?8&\Q:N>&G1YG&O4J..O* MU22=];WC23VU5F"G"5DJ,*?2Z=2Z?_;U1I:[W1_0#\0-*\?^*O#-K_PJ?XCZ M1X!UAY(M0MO$%_X/M/'FE:E82VDK06QT^?5]/V6TTDUM.+J"X+[(\*"'S3I< MK^*=:.M7FM0RW^@)X>TV?6[$ M>7=Z/&M\\UU*OV=)HT,FEO;9]5YD.7(O;R"V@BN[U;=;1;NZCB1;BZ6UC=UMA M+*'D$2NP3?M!(&2D^B6B[[K[K(?X'QU_P4%^'WB_XE_LE?%GPMX&MKJ_U]=/ MTG7(M)L59[O6;'PYKFGZWJFF6T*?-<7$MA93LD*@F5XEC4%G`)&WM%"UKK3H MKZJR\V._(N;9+1^2[G\X7[('[>7Q._9!GUC0](T;2_&'@#7]675M;\&ZS)/I MT]OJZP1V,VIZ)J]NDDFE7TEK!!%,DMOG5/8J$XK22O%ZWB[-7M>W1I]FM>Z/VX^%W_!7O]EKQN;.R\9IXP^$ M^J7,@BE/B+21K7A^%R,@KKGAUKF58-V1YEQ86H'!;`Z9N56"<9T).*Y5S4W& M:UWT]V?NOM&3MKKK:_9T_L58WUTFG!JW2^L-5M>?DS[I\!:3\)/&/BV^_:#^ M&NO:;X@N_&GA'2O"&K:[X5UNUO\`PYXAT[0[V;4M%N=3M[(O'+XATY=0NK6. MXE9)XK:[:WD7:J".O:0G!*.U.Z3U4E?[+3LXZJZ32?7J0X2I2<6N6]G;2S?= M-;Z.UT[,_F'_`."H`_XS>^*9W`\?#['&&Y\"^&R!D`9`S@>PY.:UIKW8ZZ6] M+:L35DM+']9FAC_B3Z4/33;#CIC-I"<<5S0BO>71-_G?]1O2VEOP/!?VK=+L M]5^#&H6M[!'/;KXY^$-QY4B@H7MOBUX*E0D'CAE]/PK2/NIZ6LGY=_\`,26J M1T/[2L8_X9Z^.NWAO^%2?$3L""?^$5U4\@D`\5*C",URNS3Z:=;Z_P"8)M61 M^)O_``57_9:6+PQX`_:?\):;L67P[X4\)?%.*VC'$RZ3:6GA7Q9R2(:Y9V^S+IM:7_!7X^I]5?\` M!)W]J%OBM\)Y?@QXHU+S/'/P?L[6VTLW4Y-WKOP]D8V^C31;SF6719E73)L< MK`^FD\N2.*I!T:NGNPE=I+3_`!+LM7==TVMD=&C@G;WHZ/\`1_-?BK[O7[7^ M#<4,7QY_:XDB1$>7QI\*S,R@`LZ_"'PT!O(&20#^M=*?*HN]MKN_K_F8VM;3 MN?48&WIQZ`<8K1W5NGH(XWQ;XY\,>!CX:_X2?45TF+Q;XJTSP7HES+%*UK)X MDUJ&\DTBPN+A%*67VR6SDMXI)BB/<300[M\Z!LI6ML[=UIROHW=JRZ77=%13 MV5KK6VU^]O.Q\?\`QS_X)S?LM_'6_P!2\0ZOX,N/!GC+5&EGO/%?@&\;P_=W M5[+\SWNI:1Y&?%LT<2R2/'IMR)Y-+U2Y(50L;RV#.6PH+$+50J4*MU%RH2Z*=FGJ MEI.-K;]8V\[:@_:4]XJ45UCH]OY7^DF_(\L_X)4?$[QW\,_VKK/X2R2ZK9:! M\0(?$F@>+_"5X)X8;3Q!X:TK4M3L=1N+"13^_2_7_@'GW_!3DE_VW_BIGY&S\/! MMY`4GP'X7/3M]ZKIO]W!]5';;JWMT&TE9+9.WXG]9NAN&TC2]G`&FV&,J5Z6 MD7:N:#U:6EKZ->HFK6Z-=NAXM^TVRK\(K[M_Q6WPE&#\HR?BMX,`'XGL.?3K M5II>%_%G@6T MT+5[&1V\>?#/6W^5U&0C MPZKX?<..6%O?6XS^\M*ZZM-3@N32_OTVTG9]-/OB^_S)IR_F7]V:5U]WII)? M*_4_I'_9D\8^'OB#\2?VE/''A/48=6\->*O$/P?US1-1AP$N+#4/@OX3N825 M7[DR!S%)&WS))'(CYT_7;6PN5>(J^(6`(W5,91INTFN67NM.VSWT!IK6/NN.JZ M6:_(_+#]E+_@H[\0+4:O\*_VE/AA\0]:UWX;W]SX4\1?%7P'X,USQ4EG?:/< M2Z?+%\0=&T.QFDM-362W??J%D'%S@2-:JS-))#H8B$FJ5-UJ7:/QQ]+M1FMK M:QE9_:W+^.M1\7:S>[MCXQ_8E_9&^(.D M_&WXA?M=?';08?!WC?QYK'BC4O!_P[BE@FO_``O#XNU&:\U+4];,!,=M?_8I MEL(+4;I%CDN9KC9)*J(8BHH)4E)2FDN=I[>2>S?=I-6LM[E0AS/F4>2"^%-< MM_.VZ7DW=ORW^??^"GG[$'Q6\9?$V?\`:"^#WAG4/'%CKND:/9^-?#NB0-=^ M)=&U?P[8IIMKK5CI:'SM6TJYTJTLDD%JDLL$UHQ:,QS`IOAI1K04(OEJ0NN5 MNW,NZ;LKW;7+>^S5[F=6])OFT@]4U]E]FEJN]_,_0#X`?MV?##Q3X"\.6WQ5 M'B7X1_$O3-'L-.\5^%_&7@OQ?IEL^KV-LEI=WVAZB-#:UNK&[EA,\H:]XL@_:.NO"?A+X>:7K]S\.]-\:^&/&'COXB:SX>UGPWX M?N+#P1K%IXFTWPKX277[.RNO$FK:GXBTW28[BYM;=K*TL8KQWG:>2")]HQDH MWY73CK;F7+)IK2T7[RCK?F:CM97N[)\L&TI1E+9J+NH][R7NWZ**;>MW9;^# M?\%#?C3K:?!KXB_!+X8_#7XK>//B!XSLH/#%_<>&OAKXTO\`PWH&B:B+>[U? M49/$D&D?8+^:33B;6*&QGN");MO,V"!Q13HU'*\:;LMY/E47UO&\KM]-A.=* M"]ZK&+UM&]I:[771=?,^AOV9OCSI_P`4/!WA/0;WP9\2/`GCC2?!NDCQ)X?\ M5^Z\M=5=;/J?'_\`P5<_98?XM_"F MW^,OA#2I+OQ]\)+2X?5K>R@,EYK_`,.Y7-QJ]OY<8+SW&BW&=3A`4D0/J2@$ MNH'523Y'3_EUAY/K%677IYV74S?N24OA6TNFG1_+KY._0XO_`()2?!']I_X3 M^&=3USQI9^'?#'PE\?O:Z[:^%?%%IJ1^)$D\.FFUTK6M,C@>.+0-+GMA;JUI MJ@DD>)%DB@@W[YIG!0:ES\LE_P`NU%-;[N5UR2WV4K[-)I-4I_9C#1/XFVK> M2C9\T=MW&VZ;NT?L\,@#&!CMZ9H^&UA6M\CYM_:A^,OBWX)>!?#6N>!O"6C^ M-/%7BWXE>#?AOHNAZ]K,OA_3'O\`QA<7=I:W%SJL5O+]E1+F&$%G78%E8L1M MK#EYD[2C3764XOECW;LXO\?DS1-1>L92MM&+2;?1)M-:^FOEN?%?@?\`;DT[ M3=/^*-]%\)/!GP^\6:-\-_C5\4_'VE)XIMX[?Q'\9?A;XC7P?J6AV>K6END/ MB.WU2UTRSD748!+<8B\M$E">8\355."=2%DU&,H\RC)?9:7-\+3VOS=I6+@J M44_*ZI^[I)/Y=XW/<]-_;+2\^/GPX^"4OA:&)O&_P,M_BC=ZZFIW MGEZ5XKO?#MQXKMO!D436PCN(WT&QNKCSGDCEPT9$9!)&;I5+.7,N52Y?M;O= MZRM;;2S;_F6S:=.UN5I[KX?A3L[V5[[[-+3;4^<=)_X*1^/[?P5JOBCQC\"- M`T:76/A-KOQ:^%9T7X@KK5IXHL/#GBC3/#.K:9XDMHM.%]X9N&DU(30.\;^8 M8&CV?-N%?5Y)J,9TI/:2BIIPEVDG/5/6RBXZVW6SYZ>GN58Q7=Q]Z/>#4$HZ M]TSU+X7?\%`[7XA_%WX4?#F+P58:7HWCKX'GXL>*_$?]NW4LGA'6H-"U;7-2 M\,06SZ?''=Q6L&F#?<221-BXR8P5^:5"I3BY>[%*5FDIWOWC[UDNR:;WNPE[ M)^['FYOLWY;7:/P5_P`%#)_''P&B^)>@_"Z6_P#B/XA^,L7P M1\`_"^#Q"ENNN>)]:BM]2\-7>I:]?V,(TG39O#]R-0N)3`ZHD?ROY;^:FJCB M/:>S]I&+23NU)02?5KF;=O*2OY$25))2BIC^!SX4UOP-XU/@C7M,TW5]9L M4LO$-I)?26<]K-#(DL\=YA8CY,A"E3Q"TE4HPY;J\XU+2OJFGSQ]U[J]VN_= MQE02;4:LD]E3Y6XK6ZDN5ZI[M63^9Z5:?MG>,-2\,V5UH7PCL]1\9:I^T/\` M$G]GW2?"9\9+96]UK?@3PQX@UNTO6UFXTL06QU'4=#6Q9'`A@%SYQG=8R&(Q MQ$5*,94HR5GM/DM+;3GO>_9VMTU)?L?BY:G*EM[O-?KLK6MLM[G$?#W]O?XA MZV_@34OB-\"-.^'?A#QK\3?%7PYC\0I\1;7Q&;63P'HGC'4?&VH"RLM'CDQI ME_X3DM%23RTN1.TL,C*@#4H8J+7-4HR2>J@JE[+71.;5]4T[>0VZ&T(U8NVG M-RI:][+UNM[G4?#?]O2X\5Z+\0_$7C/X-:_\.]$T7X-:U\?_`(8WM_KUEJD/ MQ&^&>F7-[I\$UY):6:Q>%_$%Y?067EZ?,]RS1:FKKN6-6GUY*\/>:CRR^%QO M[LOY9N^^O->-M+JU]3-ND](MWC\2=DVG?6*WMT]?6QWWP;_;#MOB[:_LUSVO M@HZ3)\?=-^*\^HP-K9N)/`VJ?"M`-0TJ57TJ!M6>YN,IN*V9B!#%7SBH3JI1 M4N5WZ'VL#CH/RX^M:I17EZ$V['R!^ MV7\$]8^/O@#X?^`M.TC^V-)3XU_#O7_&]FFMIH$\?@32I]17Q-=6M^+B"874 M=K=)Y:6D@N"S9B^9>(IN,92OR)QBWRRVDTOAY5O?:VB?<;NE[O-'SC:\;[-7 MT5GZ^A\A_'+_`()[^&M9OK_P_P##WX1Z5=>`?!_[+GCSP[\+8I_$4EO<6?QP MU;Q->ZOHU[/->ZLEY>7TPNVGDU'4FEM=S[96^4**A6:]_P#=P4Y\KCR.T:;5 MKI^' MOBEX&L%^%(D\,-*/AWX>^%EC\,;WQE'XS74CYUN6_M-M=DG9O4MD%;:_P!K5:];N[73[K4-7* M0:;K7@^"*24:<_V3SM+56VR,%9N=-2=JM*GR3:>\5-[N MY?9W6SZ;6NM1"LG=JGMRM;I-MWO9OS99^ M)/P/_:C\>?$3X1_%_P",G[,.D?'S5M*\%>)EN?`^B_$KPY\/++X<:S>?$=_$ M7@BQDUBSU2R/B74=&\-P)#<2QQ3V]Q)J3B5W:WRRBJE.$HT:M.I+9^UC*<;- M:J"2NDM.5O6V[?4]R]Y1G2BG=>SLFWW=[[[O;7:VQZK\,?@;^T3IOQJ\/^&O M$GPSTS2?AAX6_:A^)/[3B_%2/Q?H]U%J-KX\\,ZW9:?X(MO"]O(VHC6K74]? M>*>YD2.$)8NRY4J\A**2Y^>'))15HWYN96NO1:O\KB4M>51E&2ONK1Y>COW? M;[T-B_97^+>K>!/@;X/U3PHVFC1OVA_VD/$_C*8:OHEP-`\'?$FT^)UAX;\0 M;8M28WJ31^)=)D-M:&:YC\[][$A1]E*T9-I:73TNM/=3M]S'?1):.S7HW'/"'PS^"']KQZMX8\177B)M%\<:5)KGQ M;M6CU&VGA\(6/@31$5]"F_TB^GU`HD9+2+!I[/D^*I>+DY+D?3>]FM);12?: M[7>>>-TXTW&223;77^73>/5M76N]S.\#_!?]KW]GWQAX/U;3_A&?CR/AI\6? MC[KEAJ&D^*/`_P`.;/Q3H?QG\-^%)'UVST_4=5E&@K%XEAU[.FF([<8C"Q&- MFRG!VE[":=^5Q=71NRL^;EMKYJVO3H/VD5;G@XVNFJ<6UO=6O?37_@G[1V,M MQ/96<]Y:?8;J:UMYKFR,J3FRN9(4>>U,\?R3&*5FC\Q?E;9D<&BSCV7I^(_3 MW?P)3G^'''L.!W7MUKE:LGRV5O[JT[HM65O+Y'X*_&SXZ?%[P!\8/%/BGPYX MK\5:CH_PX_:W^(&L:_X876]2>PNOA=X3^&GPXO?%&@IIWG-$^EV^G:CJ]ZEJ M8_*BE>6=`)!FM/90FI6@E4Y;Q_Q--?*]B4H0G%N/+9WOYRT/-+3XD?%;4_"^ MM_%W1OC?\3-%U7X-_LY?#SXJ^'K0^+;^7PSXMO\`4?BSXQL=0L?%^A7QDCUJ M+4_#\5M9KOV,K1P*2RC;4.G0@U!TDG-N,9)M.#Y4UI>SN[[CC3M*,H)6IWNK M)W6MTNW5W/<]"^+'Q<\0:'>7^@>,/%#>(M5_;W\;^&O#6GWNM7300Z6_PQU? M4M"\'R)/.$7PW!K?V23[`_\`HZO&&*\9J)4J2:YHI@>)#$M]/\/=>U"\64Z*J0)`VGV;P32I(LC7. MC3IUJ=.I@X0C43Y)QGS0G%IC,H\LZ;=.LI14KN+@XSA+7F M@_>[[-Q376*+?QB\2_$/X4?%/3?ASX=^-G[3^N^,X/AU\`+CX1W$/BO^T-`U MCXD?$#QA?RZA:?%:6X6'3Y-,OK*X:SM%E1&D%D(F,JQL3T1HTN5U*>&Y812O M/F:]DWJFWMJ[II^,O M#6@Z]XY_:AN=(OOC;^UMINHZ3^SGJUW>^/WMO"FN>%;?P[965G,D\+^&-':X MN@8S$1;03OLV[C4JC[K5+#K$25K0=3V5]$V^:323ZVZ]!S5.VLU16_,XN:5V M_LIK?7J?0_PQ\5_$#P9^V]!X&^+'Q#_:%\/2:QJM_H_PKM/$?V36_@W\5OAS M8^!;3^P=#NQY4*Z)\1+>^M=0U:\U:V\Z2:Z:2VN([=Y09'.ER48U5AWR3M%5 MH33Y9IKFI3C:UEZJ?5KELV0<74<8SC[2"M*$H>,?V\?",/Q3^(W@BP\!^&?@SXJ\)7W@S7FTR_\-W%A\/-:\3ZE8Z* M\LGV.L7MC&NH+$BM.C'YU;#`IPIJ5.,HWC*#NDVG>^C5K[7[=1S35^5I2 M36ZYM/2Z_KN?%TD?QHM/"?PTU#2/VG_CO;ZS;_L2^+OVL3J5]XK2_MM0\;Z< MWA_58_"VNV%S;-#J?@N.*6^LT@N-TJIW8MV5TE9)Z+ MLNQZ&.!Z8_#K[=JIZ6Z$D&.?0<<U-O M$_C2^UKQ#J+^+/%GQ,\5ZKH-X-,.C2R_%/P)I/P_U_3<1V0G.GQ:1I22P9D\ MP37$GF.Z;54<^6$>32<5&SOI>,K[=FM`2L]6E#56MK9KUM>^M[:GA%M_P3)^ M&EO=^$4NOB/\3KSPQX9\,>%/"6K^"8K[2M/T+Q]H_@S7;_Q'H=KXP%I8))>0 M)J>H.[Q1-&I$*;0I))F5;K]7M.+DX/F=HMI*_+9WPQOOB-XA\97GC+XA2^%O$OB#Q%XSO/A*FL1V7@>U\ M<>*_#]UX9U;Q78+:0K=P7XTR]N1"#)^Z=E(8I&J#*=>'*E[%.JHJ#E+52C>_ M\-JVNS;Z=+FD83CI&KR4TW**BK2C*UOCTT[)%KPK^P#X+T/P'\5O!FL?%#XG M>--0^*G@32?AE)XO\5WVG:AK?A3P!X?:1]`\-^'T-I]G%O:/-(WF3+(9"1\J MA<'2G4H*=-4Z/L::E*;@I-^]+?E?*N5=E;0SDJWO.552G9)/EMHNLK.\I=W= M7T.S^(7[%?@GX@W_`(XU.\\7>*=*O_&7A3X/^&H+K3HM+\SPS=?!?73K_AKQ M#I!FM6_XF<\[213K-OC$C3U?Q+Y;6[LX?Q!^P+9:CJ^F>(_"?QY^*GPZ\3Z5XS^+/C.W\ M0^$DT.TU+[3\8-0TO4/$6F^86(4C2,L/*+C.G.UHK MW:G([Q33=U%NTKWMI8E*M!KDG!;Z2I\RL[65G);=^O9'3^!?V'/#G@OXJZ/\ M2KKXL_%3Q=I_A_Q%J/C_`$?P%XEUB"[\,VGQ0U[0?[`\1^/"1#]I>\OH9;ZX M%F'6"&:_D*9C"HHXTE%JC2=&HTDVI>Y_BY-N=JRE.]WU*YJS:52?-&.WNI22 M?V5/=06MH;+\]+QA^Q[+XE^-'C;XO:9\;?B/X1M/B+HMCH7C/X?:&-,'A3Q! M9Z=X/N_"%D-3CE3S;P0V]W+=(LFX+*2!\IP&HX?EI.=*?M:5^64:EHZN[]WE M[=WYV[J]5.48R@J'/&]C\*-'?XN_$;PWH?P MY^#.E_`K7K#PS_9FES_$3P'9SV,^IZ=KM\(G:QBU0Z?;K$]0DSH?P\TCP]X8TWPU;>'/"L'F-]FTJ1-.%VZ MX7,T\C$$DL1QA>\8N,WK)WT;UUBK+E6NJU[^2?-.RC)^[%6BK).*W=VM]>KZ M'JHX]OIQ2V\K`+@#H`/PQ5\J71+Y"V\K!@#L!CVQC-%EV0;>0;5_NC\A2Y(K M[*5O):!MY";$_N+_`-\C_"E[*G_S[C_X"O\`(?-):)M+U%VJ.P'X`4^6*VBE M\DA;>5@P!V`Q[8QFG9=E]P;>0!0.@`^@`H48QVBH^BL`8'3`^F*+):)6_#<- LO*P8`X``'ITHLEHDE;Y`&!Z#\J=DNEK?@&WD+T]L?AC-%DNEK`%%K>0'_]D_ ` end
-----END PRIVACY-ENHANCED MESSAGE-----