0001037016-13-000058.txt : 20131209 0001037016-13-000058.hdr.sgml : 20131209 20131209110021 ACCESSION NUMBER: 0001037016-13-000058 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20131206 ITEM INFORMATION: Cost Associated with Exit or Disposal Activities ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20131209 DATE AS OF CHANGE: 20131209 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NII HOLDINGS INC CENTRAL INDEX KEY: 0001037016 STANDARD INDUSTRIAL CLASSIFICATION: RADIO TELEPHONE COMMUNICATIONS [4812] IRS NUMBER: 911671412 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-32421 FILM NUMBER: 131264715 BUSINESS ADDRESS: STREET 1: 1875 EXPLORER ST. STREET 2: SUITE 1000 CITY: RESTON STATE: VA ZIP: 20190 BUSINESS PHONE: 7033905100 MAIL ADDRESS: STREET 1: 1875 EXPLORER ST. STREET 2: SUITE 1000 CITY: RESTON STATE: VA ZIP: 20190 FORMER COMPANY: FORMER CONFORMED NAME: NEXTEL INTERNATIONAL INC DATE OF NAME CHANGE: 19970919 FORMER COMPANY: FORMER CONFORMED NAME: MCCAW INTERNATIONAL LTD DATE OF NAME CHANGE: 19970402 8-K 1 form8-kdecember92013.htm FORM 8-K Form 8-K - Project Accelerate - December 9, 2013


                                                                                                            

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________

FORM 8-K


CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 6, 2013
___________

NII HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction
of incorporation)
000-32421
(Commission File Number)
91-1671412 
(IRS Employer
Identification No.)
 
 
 
1875 Explorer Street, Suite 1000
Reston, Virginia
 (Address of principal executive offices)

20190
(Zip Code)

Registrant's telephone number, including area code: (703) 390-5100

Not Applicable
(Former name or former address, if changed since last report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))

o    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))




                                                                                            
Item 2.05. Costs Associated with Exit or Disposal Activities    

On December 6, 2013, NII Holdings, Inc. (the “Company”) initiated a restructuring plan designed to better align the Company’s costs and organizational structure with its growth strategy. The restructuring plan includes the reorganization of the roles and responsibilities among the Company's headquarters and market teams, resulting in staff reductions across the organization designed to reduce costs while maintaining the support necessary to meet customers' needs. The Company anticipates that restructuring activities contemplated by this plan will be completed by the end of the second quarter of 2014.

In connection with implementing the restructuring plan, the Company anticipates that it will incur pre-tax charges of approximately $25 million to $35 million, including $8.6 million in charges related to restructuring activities at the Company’s Mexico operating subsidiary that occurred and were accounted for in the third quarter of 2013 and approximately $17 million to $27 million in future cash expenditures. Substantially all of the charges associated with the restructuring plan relate to employee severance and other termination benefits that are expected to be incurred in the fourth quarter of 2013.

This Current Report on Form 8-K contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements regarding expectations, including forecasts regarding operating results, performance assumptions and estimates relating to restructuring costs and capital requirements, as well as other statements that are not historical facts, are forward-looking statements. When used in this Current Report on Form 8-K, these forward-looking statements are generally identified by the words or phrases “would be,” “will allow,” “expects to,” “will continue,” “is anticipated,” “estimate,” “project” or similar expressions. While the Company provides forward-looking statements to assist in the understanding of its anticipated future financial performance, the Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date of this report. Forward-looking statements are based on current expectations and assumptions that are subject to significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Except as otherwise required by law, the Company undertakes no obligation to publicly release any updates to forward-looking statements to reflect events after the date of this report, including unforeseen events. The Company has included risk factors and uncertainties that might cause differences between anticipated and actual future results in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012, as well as in other reports filed from time to time with the Securities and Exchange Commission.

Item 7.01. Regulation FD Disclosure.

On December 9, 2013, the Company issued a press release providing an update on Project Accelerate, a program designed to accelerate growth in 2014, and an update regarding the deactivation of certain prepaid subscribers in Mexico. A copy of the press release is furnished as Exhibit 99.1 to this report and is incorporated by reference into this Item 7.01.

In addition, on December 9, 2013, the Company issued a press release announcing the completion of the previously announced transaction to sell and leaseback certain communications sites in Brazil. As part of the transaction, the Company sold 1,940 communications sites for total proceeds of $348 million based on current foreign currency exchange rates. A copy of the press release is furnished as Exhibit 99.2 to this report and is incorporated by reference into this Item 7.01.

The information furnished pursuant to this Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference in any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.






Item 9.01. Financial Statements and Exhibits.

Exhibit No.
 
Description
99.1
 
Press Release dated December 9, 2013
99.2
 
Press Release dated December 9, 2013










SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
 
 
NII HOLDINGS, INC.
 
 
 
(Registrant)
 
 
 
 
 
 
 
 
 
 
Dated: December 9, 2013
 
By: /s/ SHANA C. SMITH                
 
 
 
Shana C. Smith
 
 
 
Vice President and Assistant Secretary
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





EXHIBIT INDEX

 

Exhibit No.
 
Description
99.1
 
Press Release dated December 9, 2013
99.2
 
Press Release dated December 9, 2013




 EX-99.1 2 exhibit991december92013.htm EXHIBIT 99.1 Exhibit 99.1 (Project Accelerate)


 
Exhibit 99.1

NII HOLDINGS PROVIDES UPDATES ON ITS ACCELERATED GROWTH PLAN AND BUSINESS REALIGNMENT EFFORTS

Company modifies prepaid deactivation policy which contributes to higher than expected subscriber losses in the fourth quarter for Nextel Mexico

RESTON, Va. - December 9, 2013 - NII Holdings, Inc. [NASDAQ: NIHD] a provider of differentiated mobile communications services operating under the Nextel brand in Latin America, today disclosed further details regarding the Company’s planned realignment in connection with its recently announced Project Accelerate initiative.
 
In connection with Project Accelerate, the Company announced that it will implement a restructuring and organizational realignment plan designed to simplify the roles and responsibilities of its headquarters and market organizations and better align its costs and organizational structure with its growth strategy. The plan includes reductions of over 25% of the Company’s headquarters’ staff and the elimination of over 1,400 positions in its market operations. The realignment will result in a more streamlined management structure that is expected to reduce costs and improve operational efficiency while retaining the Company’s focus on accelerating subscriber growth.

The Company expects to incur cash costs related to employee severance in the range of $25 million to $35 million in connection with the plan, which include $8.6 million in charges related to restructuring activities at the Company’s Mexico operating subsidiary that were accounted for in the Company’s third quarter 2013 results. Most of the remaining costs are expected to be accounted for in the Company’s results for the fourth quarter of 2013. The Company expects to realize annualized cost savings of $50 million to $55 million as a result of these actions.

Separately, the Company has modified its customer deactivation policy for inactive prepaid subscribers. As a result, the Company expects a higher level of prepaid subscriber deactivations in Mexico than previously estimated. Taking this adjustment into account, the Company expects a net subscriber loss of approximately 400,000 subscribers in Mexico for the fourth quarter 2013. This policy change is not expected to have an impact on net subscriber additions in Brazil or other markets.

"The structural changes we are announcing today support our accelerated growth strategy," said Steve Shindler, NII Holdings chief executive officer. "By realigning our business and refocusing our teams on our growth goals, we can further simplify and streamline operations, reduce costs and free up resources."

Other Project Accelerate initiatives that are underway include the deployment of aggressive marketing campaigns in the Company’s core markets that target growth on its new 3G networks, investments to expand the coverage and capacity of its 3G networks in Mexico and Brazil, and expansion of its device portfolio to include a wider range of smartphones and other handsets that better serve the needs of its customers.





About NII Holdings, Inc.

NII Holdings, Inc., a publicly held company based in Reston, Va., is a provider of differentiated mobile communication services for businesses and high value consumers in Latin America. NII, operating under the Nextel brand in Brazil, Mexico, Argentina and Chile, offers fully integrated wireless communications tools with digital cellular voice services, data services, wireless Internet access and Nextel Direct Connect® and International Direct ConnectSM, a digital two-way radio. NII is a Fortune 500 and Barron's 500 company, and has also been named one of the best places to work among multinationals in Latin America by the Great Place to Work® Institute. The company trades on the NASDAQ market under the symbol NIHD. Visit the company's website at www.nii.com.
 
Nextel, the Nextel logo and Nextel Direct Connect and International Direct Connect are trademarks and/or service marks of Nextel Communications, Inc., and are used by NII's subsidiaries under license in Latin America.

Visit NII Holdings' news room for news and to access our markets' news center at www.nii.com/newsroom.

Safe Harbor Statement

This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this news release regarding expectations, including forecasts regarding operating results, performance assumptions and estimates relating to restructuring costs and capital requirements, as well as other statements that are not historical facts, are forward-looking statements. When used in this press release, these forward-looking statements are generally identified by the words or phrases "would be," "will allow," "expects to," "will continue," "is anticipated," "estimate," "project" or similar expressions. While the Company provides forward-looking statements to assist in the understanding of its anticipated future financial performance, the Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date of this report. Forward-looking statements are based on current expectations and assumptions that are subject to significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Except as otherwise required by law, the Company undertakes no obligation to publicly release any updates to forward-looking statements to reflect events after the date of this report, including unforeseen events. We have included risk factors and uncertainties that might cause differences between anticipated and actual future results in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012, as well as in other reports filed from time to time with the Securities and Exchange Commission.

Media Contacts:

NII Holdings, Inc.
1875 Explorer Street, Suite 1000
Reston, VA 20190
(703) 390-5100
www.nii.com

Investor Relations: Tim Perrott
(703) 390-5113
tim.perrott@nii.com

Media Relations: Claudia Restrepo
(786) 251-7020
claudia.restrepo@nii.com




EX-99.2 3 exhibit992december92013.htm EXHIBIT 99.2 Exhibit 99.2 (Project Accelerate)



Exhibit 99.2

NII HOLDINGS ANNOUNCES CLOSING OF SALE OF COMMUNICATIONS SITES IN BRAZIL

RESTON, Va., December 9, 2013 - NII Holdings, Inc. [NASDAQ: NIHD], a provider of differentiated mobile communication services operating under the Nextel brand in Latin America, today announced the completion of the previously announced transaction to sell certain communications sites in Brazil to American Tower Corporation [NYSE: AMT]. As part of the transaction, the Company sold 1,940 communications sites to American Tower for total proceeds of BRL$813.8 million, which is equivalent to USD$348 million based on current foreign currency exchange rates. As part of the transaction, Nextel Brazil agreed to lease back the communications sites from American Tower for a minimum 12-year initial lease term and has the option to extend the lease for additional renewal periods.

The agreement with American Tower provides for a post-closing adjustment period, after which the Company will recognize the sale of the sites and any associated gain, which will be recognized over the lease term. At that time, the Company expects to record a capital lease liability of up to $240 million relating to the sale of the Brazil communications sites. The Company expects to complete the sale of the remaining communications sites in Brazil and Mexico that were agreed to be sold once the applicable closing conditions are met.

About NII Holdings, Inc.

NII Holdings, Inc., a publicly held company based in Reston, Va., is a provider of differentiated mobile communication services for businesses and high value consumers in Latin America. NII, operating under the Nextel brand in Brazil, Mexico, Argentina and Chile, offers fully integrated wireless communications tools with digital cellular voice services, data services, wireless Internet access and Nextel Direct Connect® and International Direct ConnectSM, a digital two-way radio. NII is a Fortune 500 and Barron's 500 company, and has also been named one of the best places to work among multinationals in Latin America by the Great Place to Work® Institute. The company trades on the NASDAQ market under the symbol NIHD. Visit the company's website at www.nii.com.

Nextel, the Nextel logo and Nextel Direct Connect and International Direct Connect are trademarks and/or service marks of Nextel Communications, Inc., and are used by NII’s subsidiaries under license in Latin America.

Visit NII Holdings’ news room for news and to access our markets’ news center: nii.com/newsroom.

Safe Harbor Statement
This release includes “forward-looking statements” regarding the closing of a sale and lease back of certain communications sites and future sales of additional communications sites, as well as other statements that are not historical or current facts. Forward-looking statements are qualified by the inherent risks and uncertainties surrounding future expectations generally and may materially differ from actual future results. Risks and uncertainties that could affect the forward-looking statements in this release include: the failure to successfully meet post-closing conditions and the failure to successfully close the sale of additional communications sites as contemplated by the sale purchase agreement, including due to a failure to meet closing conditions, and the additional risks and uncertainties that are described in NII's Annual Report on Form 10-K for the fiscal year ended December 31, 2012, as well as in other reports




filed from time to time by NII Holdings with the Securities and Exchange Commission. This press release speaks only as of its date, and NII disclaims any duty to update the information herein, except as required by law.

Media Contacts:

NII Holdings, Inc.
1875 Explorer Street, Suite 1000
Reston, VA. 20190
(703) 390-5100
www.nii.com

Investor Relations: Tim Perrott
(703) 390-5113
tim.perrott@nii.com

Media Relations: Claudia Restrepo
(786) 251-7020
claudia.restrepo@nii.com



 GRAPHIC 4 niilogo.jpg begin 644 niilogo.jpg M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$! M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$" M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,# M`P,#`P,#`P,#_\``$0@`60"N`P$1``(1`0,1`?_$`,<```("`@(#`0`````` M```````*"`D'"P$&`@0%`P$``P$``@,!`0````````````@)!P8*`00%`P(0 M``$$`@$#`@('!0,("P````(!`P0%!@<`$1(((0D3%#%UM1:V=S@BM!4U%T$C M-%%",]255G8W88&A,G.S)#97MQ@1``(!`@4"`@,*"`P&`P$```$"`Q$$`"$% M!@V-"VAIFE:1I]I!I\5C#V(L2$#NC5 MF)+`LS,S%F9B69B222<8X^\^3?[QY!_MJS_UKG'?I+4O[1/_`"C_`//'*/HG M2O[+;?R4?_CBV_VK_/V;H38(::V[D;CQHL:.V3K\ MB0^Z0-,,,-`I&9*@B**JJB)S^))(X8VFF94A1268D```5)).0`&9)R`Q^D44 MMQ*L$"L\[L%55!+,Q-`J@5)))H`,RB>MDTC`6P\K'EVL^)MH_3.Z;:*3D#58U:X M$BJ_LD/ODM%K4!QD]PPZR42I6($UH?>?)O\`>/(/]M6?^M<7+Z2U+^T3_P`H M_P#SPU'T3I7]EMOY*/\`\<29\,MBY]COE?X]3*3,\FKY$[;6$4$XFKF<;)3DY/A\)O]CJJG+K`0_4XSQE2KRK$5ZQLS26\Z/EX&U-2DY:V;`%VQ>S?M\ M*"BVMU(&\\BJX] MGXB:DN12QL(S8[QR2M?7XE=6RFVWX^M84ID_V)MK&,7;E1]6XIA%5>YY\00[ MS7\W&TCDXMVM*/:)%_Q"53[U2*BU4CTL,Y_<4B+/ND44J\D_EX%W)%S1O.#] MFC<_14#C)W4D-?.I&:QL"MM7WT@:6E$C++=?1Z)Z(GT)R>F*A8YX8\8D#XF? MJE\3N+,&RHE M*!34D=!C<.!N$=1YUW1=;:T^_@TYK2Q:Y:26-Y`0)(XPBJA4U)D!J6``!ZG+ M$#-/>]?@NV]KZYU:UH+,Z![8F94.&Q[I[,J"Q8JY.03VJZ--?A-UT5V3'8?? M%7!%P2[.JIU5$1<4VGYP-#W3N:PVVFBW4,E_=Q0!_'1@AE<(&*^&M0":G,&E M:5.18;>WD0W!LW9^J;N?<=C<1Z98S7)B%M,AD6%"[*&+L%)`-"016E:#,2S\ MYO<"QOPADZVAW>M;_83^QVEM`K>+%)*9#/XI%`C*%"B(UJ36HH,02B^_1KZ0S9.'XY9 MTT<&`,QD!SG&W1D.+9UL!67#6K;6.*-3B<[T1Q5)M`[4[NX<5C\[6WW21CH5 MV"B`C]HC-?65:']$*"C$U%[-`*),!FR=DN9, MG;4!Q3<.I@X8,?#4;>59(Y$-&1U-58'^`C\'NX] M#5M*TS7=+N-%UF".YTF[A:*:)Q5)(W':RL/<(/7J#0@@@'#J_@+YFX[YC:# M^7-/Y9VFE\2D>Y;4+'>0C+MDIE*@Z^%,`67\E@T=3V5,)?,7P;J?".]WT]`\ MNT+TM+I]P<^Z*OK0R'IX\!(5Q\)2DHH'H)T\VC"^X.&#!PP8K@]R+SAKO$'5 M"UN,28DS>&Q8RS^XB$7\NHU<[8C9HHS+!0;Z$V#Z@O_ M`)@N9;?BK:YATYE?>%^C+;)D?"'1KEQ^3'TC!!#R4%"JR4:#RO3[07@K)V9E]9Y3[-K'6M=X'=U$CHN2DWT M$GL;PV:W_/<1G];_#%` MPR/1IA2I$;J4"\Z?F"BVIHLO$>U90=S:C!2_D6A]FM)!^HKZ)[E3ZPZQP&N1 ME0AI/E*,21P<,&#A@P<,&#A@Q6=[H_BQMCRPTKA&&:@8QZ7D.-[+@Y3.B9#= M)1,.U(8[D-0\468<62R-#(`RAE(!5&%16AI7(UQ4IXW>TOYA:Z\@M*[`RZHUY`Q?!]F8CEM_+BYW M'L)35506T>SF)%@QJ[XTJ4ZU&4&P3HBF2=RB/545WCSRM\J;>WUI&NZI'8II MUGJ$$TA%PK'LBD5VHJBI)`(`]VE2!4AR.4?.1PGN;C?7=MZ--J?*D^C3[36V=;%;E M91)*(R/%,!0K44(_1M7.H-,LZA:_)_SQQ]PS;:_;[YDO(VU![1H3#`9@?!%P M'#48%3^D4C(@YYU&=3,#V:/-T(]RCU'K-HW:H&8K:[$BFLF1_&J9Y6!)NK(& MB&*PZYW&HCT;4>O47F!8I@T6GAC&`![2N9\1#04&1H">+@1I("EQJI43$L?8F':/"E% M_P`/S*GDTMY62$1/BQI"(H2(SO13B6$&0`/QGPZ.1Y#8.`J$*+RG>XMOZ3NK M1+G;VN1+/I5W$8Y$/I!Z$'JKJ0&1AFK`,,P,1[VKNC6]E;BL]U;;G:WUNQG6 M6*0>AEZAAT9'4E'0^JZ,RL""<)">8OBKF'B%NBZUED7S-ECTGXMWKK+S8^'' MR[#GY!A#ED0BC+=U5E_Z6R8'_120[A3X3K1%&SESC'5>*MWS;>ONZ33VK):S MD4$T!)[3ED'7WLB_!8&E5*L;W<)F=L6I+2*]M@:FVN0`67W3% M)^LA<^^0T/KHX$5^9?C7<'#!B17BQY+9UXH;BQ[;.#NN20B&-;E^,&^K-?FF M'RGVCM\>G=4-MMYP&T=AR%$BB3&VW4140A+0N,>1=:XPW9!N71V+(I[9X2:+ M/`2.^)NM":51J'L<*U#2AS/ESBS;_,.R+G9NO@*SCOMIP*O:W*@B.9/20*]L MJ5`DB+(:$@AX73FW<'WOK3$MKZYM1M\2S&K:LJ]Y41N7#>0B9GU%I&0C6%<4 M\]IR-*955^&^T2(JIT5;,;3W3HV]=O6NY]`E$NEW<8=3Z5/1D<9]KQL"CKZ& M!S(SQ`O>^R]?X]W5>[/W/"8=9L9BCCJK#JDD;?"CE0J\;?"5@:`U`R;SD6.* M8PAY$[^P+QFU)E.WMB3%9IL>C(W`K&#`;3)\AEB84N+TK9^CUI<2A[!]%!EM M#><[6FS).';]WQHG'>U[G=.O/2T@7U4!'?-*0?#ACKU=R/P*H9VHJL1S[C/C MG<7*N\K39>VD[KZY>KR$'PX(5IXL\I'2.-\ZIO.*KKIDL9-^;WU MOD/<]SNG7G[KR=O54$]D48KV11@]$09#TDU9JLS$WVXYX^V[Q?L^SV7MB/LT MZU3UG('B3S,!XMQ*1UDE85/H50J+1$4##?.'XYO@X8,39\$/#G)/,?+,050>@=TA!"$'!_,)S=I?".QY-88QR[KO` MT6GVYS[YJ9S2+U\"WJ'D/PV*1`@O4.PXCB6-X%B]!A>'4T''L5Q:I@T=!25K M7P85955S`1H<1@.JDHMM-IU(E(S+J1*I*JK8;2M+T_1--@TC28D@TVVB6.*- M!141110/P#TFI)S))).(/ZUK.J;BU:YUW6YY+G5[N9Y9I7-6>1R69B?X2>@H M`*````8QGY([A_\`S_HK9^YDH5R@]>8M,R!K'_X@E4EJ\RXRPQ%.Q6+-^4:) MZ0*F:-.*@HO057ISCV_]U?8C9NH[L$/M!L;TFG08Y M5Q=LG_4?D'2=C&Y]D&IW:PF;L\3PP026"=R]QH#0=P%:5-,460_?RMUF1$L/ M&>O"O65'2>$MVUS[0;<`FG2I`KUQ02?\`=UV7@O[-NJ0W/8>P-8@*6H>T,1Y%)C"ZH/J`1&&W141><5%Z<[Y$\X>U]`G^CMC6WTM=!5+3NS16ZEA6BBGB2 MD=&_5J#T9L\9WQ9Y#=X;DMAJG)5Y]!6A9@MM&BS7;!25[GJPBA5J52ID=E() M1:BL.J+WX=\Q[-IW)=):EMJ;XPK(A4EGE]%9?`[U4PC6,Z?D$47>Q>B*<8DZ MIZIS);+SM;SCN`VHZ/IDMI7-8VGC>GN!VDE`/\)0_@QMNH?N]./);4II>O:S M#>]N32I;2I6F19$2%J5]QQEB[/PX\\--^9M'8EA13\7SW'(S$K*];9(Y&6]J MXCYBRW;UDN,2Q,AQXY)(U\VR@$TZHB^TR1MH;B\3\U;2Y;LI&T8O;ZS`M9K6 M4CQ$6M.]",I(JD#O%"I(#HA9:H;S=Y>M\<&ZA$->\.[V[=.5M[Z`-X4C`5,< MBMZT,W;ZWAM4,M3&[A6(]/SV\QW_``KU;B^PHF!-["EY/G$3#F:I_(%QV-#% MZFN+EZP=F!5VSKRBW4_#%L6TZDYU4D0>B^OSART_#^VK;7H[$7\MS>K`$,OA M!:QR2%BW8Y/O*`4]-:Y8]CR[<(1\[;MN]MS:B=-AM-/:Y,@A\9FI+'$$"F2, M#.2I8LK]73_'F!1Q=B9QCN&.7,38S\^15+D-@U6M6` M07L1B-S!B/2!,FU=;4P140D7IS`]E^<2ZW5NW3MM3Z"D$5_>10&1;LL4\5P@ M8*8%#=I()'<*@$5KAF-_>0^RV;LC5MVV^Y9+B;3-/FN1$UD$$G@H7*%Q<,5[ M@"`W::&E01B9?N#>X',\()6K(4#5\?8K^QV&I-,A@TU=0?4%G-6F,(00F(4RCD+%O$_@I MV^FN,.\MOEO@Y\AU>XN=6;3(]+:W4!;<3F0SB8USEC"A1%_U$]WHIG7C#]^J M[?8M3>\9ZT7(=<$N*C6T)"@;ZVU5"()"GA2$+/RTUPD4>I?$$4Z=JJJ8+#YW MKQXY6?;L89$!6EX;09Z17UL#03VY/5:Y":$GQ( M6/1JH2$=ZI)9SA&5ZUS')M?YS32L>R_#[B919#33$3XT&QA.=C@B8]6Y$5\% M%UAX%5M]@PXT+68F@U2UE:.1&ZJRFA_@(/56!*LI#*2 M"#B\V@:]H^Z=$M=Q[?G2YT6]@66&5>CHPJ,NJL#574T9'#*P!!&.J\^5CZ^# MA@Q:7[87G8]XI[*+`]@6C_\`0795E&:OU>,G8^O\I>^%#@YU%:7JK-8\"!'N M!;Z=T80D="*.@FS?ENYK?C7<'T%KLI^Q6H2`25Z6TQHJW`]Q:468#J@#9F-5 M*D>;#R^)R_M;[0[;B7_4/2HF,-!1KRW%6>T8^EP:O;$]'+1U`EJ&^Y]]25=' M,R:QMJZ'CM?5/WDV\D2V&ZJ+318A3Y%H]/4_E@@,P@5TG>[L1M.[KTY5>>^L M[:R?4;B6--/CB,C2%@$$87N+ENG:%];NK2F>(KV^G7]WJ":5;0ROJF>5QE;M\B M6/9;`MHJ]O;8WXMH,1LT[H=>@`J(ZX_W2,\P/,EQRMN@QZ>SIM"Q9DM8S4>( M>C7#K^7)3U`63@6UX2V974UCDWYJ2J][**'PAU2SC;\B&M9& M!I)-W-FBQTKQY@&&5P<,&,B:EU5F^[]CXEJK7-2=SF&9VC=9514[AC1@[2?G MVUH^(DD.FI8#3DJ6^J=&F&B7U7HB\AVKM?6=Y[@M=LZ!$9M4NY0B#H!Z6=SG MVHB@N[?!52?1CC6\=WZ!L+;%YN_<\P@T2QA,DC?";T)'&/A2RN5CC09L[`=* MG#P'B7XPX1XEZ:Q_56'@W,FLBEIFF5''%BPS/+Y;3:6M[-3J9-L]6Q8B,=Q# M%AM-MHJJA$5E^+^.=&XOVE!MG2@&E`[YYJ4:>=@.^1NI`R"HM3VH%%2:DP-Y MDY8U_F3?%SN_6R4@;]':VX-4MK92?#B7I4YEI'H#)(S-D"`), MD("N"TC2@9M3Q#Y6]>Y(T6/=&KWBZ7H,]?!_1^+-,JDJ7"=\:I&6!"LS%FH2 M$[2K%-N<_.-M?B/<,FS=%T]]9W/;]OM'Z7P+>W9@&$;.$D>24*065%"I7M+] MX95Z_P"=GM@9?XN)S]#]W&!#%5*^L#CZ/E\\V.B\W:S+M34-..D[I2!IHD$WC0W$:4\0(Y2-UE M0'O*,K!D#,&]4C$./%'IRFFE M)Z@['FU$IQ40D5!>;;<3H0"J9+Q;N^]V-O[3-QV;LJPW2"4`D!X'8+-&?00T M98"M:-1AF`<;?S!L:PY'XSUG:-^B,UQ8R-"S"OAW,2&2WE7TAED4=.JEE.3$ M888]]OU\;-3JG_S;`_!&8?$UOW>_WHZS]0O\`.K;"^?AO M^K;QG_/+6OXHK^(GQ%]Z6WOKFT^73%(>;_N:W5]07WR#XN&]_3^>^,'U7MC] MZP'C7>>/^F[;^*OOQVN$H_=U?Y=NSX[3_P`V[POU7_X>[^IQ^W:+B+0?JI_B MA\I'BCUS^L@^._FI<;$KE\L=9[!PP86[]]C!--5MEJ38$&5#K]\Y&]*IKJH@ MJ"2,DUQ50I2Q7CRU"R MQ2/6D%[(R]T$)/42Q=TLJ"H1E5_5,I[UY^(3BE&#A@QPJ(J=%]47T5%^A4X8 M\],QB\_86Q=F/>R-J8WLFR4PMMM)KRWE&[(5V=K2MR'.V*C&YLSL^*YCC3E- M`C-H1]AMLML*1`O8KL:[K^Y&\G>ELUQ<5EU0VTAJ:M:I)<]D3-U\(&.-1G2B MJGO?5Q/_`&UMG:L?GTUD1VEJ&AT;VR-0%HE\\-H9)U6M!,1+*YH*@LTE`WK" MC'B3X?\`P<,&#A@PS'[%F":977^S=C094.TWP.0EC&21Y:`MCA^!FU'F8\U3 M,F"&W797+9?>E2@5?COQ!8+I\NB+1GR6Z)M#Z!U#7[=DEWIX_@RAO?P6Y`:, M(#F%F8,7<>^,84T[,Y6_O`]P[Y&X]*VQ<(\/'AMO'@9:]ES=@E9C*1U>W4JL M:'WJR&05\3*_GCQXG-@X8,0E]Q_]#7DO^6T[[0KN9!S[]SFX/[B?STQO/E?_ M`-P&U?K1/S'PCO(518?)/119<5%_R*@$J?\`;R,B@%@#TKB^L8K(H/2H_'C8 M!^/=9"I=":2J:Y@(T"MU+KF'$8;$0!MB/B%.V"((HB=50>JK_:JJO+G;#MH; M/8^C6MNH6"/2K15`]`$$8QUQN2;N>_Y$UZ]NF+W$NLWK,3F23_I_/?&#ZKVQ^]8#QKO/'_3=M_% M7WX[7"4?NZO\NW9\=I_YMWA?JO\`\/=_4X_;M%Q%H/U4_P`4/E(\4>N?UD'Q MW\U+C8EG6-YVFR]M(/;+AJO(P/AP0K0RSRD=$C7.G5F*HOK, M!A'??6\<[\C=KY;M_8LWYG(ZW5KS]U[+Y7':N02?#^\N4DP;,9$[EC MLB[)451GM+:.$.)-0Y9W:M@0T>W+7MDO)A\&.N4:'IXLQ!5/R0&<@A"#@WF% MYOTSA#9#ZN>R;==YW1:?;G/OE`]::0=?`MZAGZ=[%(@07J'*;W1^K,BT]+T' M88=4IJ>5B3>$CB$9@6($*@CQ6XL%FO[44XDNM5EMZ/(%?C-26Q=0OB)W M[-VU?;4;9,]I%]F6M1;^`!15C``4+Z59*!E?WP&Z]I8U=IBQ9R_H97J5=#ZK(2A'::82F\Q_%+,O$#*=VRZ!? M=TFGO62UGI030DT!]P2)[V1?@L*BJE6-W.$>8-$YJV-#NK3`L.IH1%>VU:FW MN0*LH])BD]_"Y]\A[3ZZ.!%3F78U[!PP8D-XN>26=>*>XL!B.^)OP@51J'L<*X!*TQFO+7%VW^7]D76S=?4+X@[[>>E7M;E0? M#G3TY$]LB`CQ(F=#U!#PNF-PX)OS6>)[8UO;#;XGE]:$Z$X2(U-@20(F;&FM MHJ$90KBGG-N1Y+*JO8ZVO12%1);,;1W7HN]]NVNY]ORB73+J/N4_"4]'C<9] MKQL"KCT$9$BA,"]];)W#QUNJ\V=NB$PZQ92E&'577JDL;?"BE0AT;TJ14`U` MRCSDF.)8A+[C_P"AKR7_`"VG?:%=S(.??NF-Y\K_`/N`VK]:)^8^ M$=I/^&D?^`[_`.67(R)[\?A&+[1?K%_[A^/&P3TA_P`EM0_E?@'X4J>75V9_ MZ?I/U;:_()CK>;]_]ZUKZVO/G$F(1^[M^@GMK?U%)\[ML+]>&_Z MMO&?\\M:_BBOXB_$7WI;>^N;3Y=,4>YO^YK=7U!??(/BX;W]/Y[XP?5>V/WK M`>-=YX_Z;MOXJ^_':X2C]W5_EV[/CM/_`#;O"_5?_A[OZG'[=HN(M!^JG^*' MRD>*/7/ZR#X[^:EQL.+FXJL=J+2_O;&'44E)73;:XM;!]N+`K:RNCN2YT^;) M>(6H\6)%9)QPR5!$155Y>J[N[6PM9;Z]D2*SAC9Y'8A51$!9F8G(*H!))Z`8 MZU%C8WFIWL.G:?$\U_<2K''&@+.\CL%1%49EF8@`#,DTPE[[B?FS:^8>W7"H M9,Z%I3`)$VLUG1O*XPEJ2DK%CGUM$7M4;;(D!$CMFG=#KT;;Z"X;ZG(?G[F. MYY6W218M(FT+%F2UC-1WYT:X=?RY:#M!SCC"K0-WEKG^6?@:SX3V6%U!(Y-] MZBJR7THH?#]*6<;?Q<-?7(RDF[FS58PM>_,#PR6#A@QD;4FJ,XWCL?$]5:XJ M'+K+\QM&JVMC(AC%B-?Z2?A1\)W-#VHBU9V]"@G'&=Y;PT#8.V+S=^YYA!HMC$7=LNY MCT2*-21WRRM1(T&;,1T%2'@_%#QDP?Q.TWCNJ<,:;E28S8V68Y2<<&+',\OE MM-I;7\]1[C%LS!&8C"D218;332*O:I%9CC'CK1N,-IP;9T@!I%'?/-2C3SL! MWR-Z:?!1:GLC"K4T),#.8N5M?YCWQ<[PUPE(G/9;6X8E+:V4GPX4]T@'ND>@ M,DC.Y`J`))\T+&6XA]YM>(V)^8FF;+`+8HU3F5.LB]UGF+C'Q'<9RL(Z@V$@ M@$I#F/7@",:R8'KWLJC@I\5EI1RGF'BS2^5]HR:'==L6K15DM)R,XIJ=#Z3% M)0+*HZBC`=Z*1M?`W,^L<);YBW'9AYM#GI%?6P-!/;DU)6N0FB-7A8]&JI/8 M[@I'YW@V5ZRS/)M?9U32L>S##KB90Y#3RT_O8=A"<[#^&XG]W)AR&U%V.^"J MU(83O\`PH4#/88*J_`@*`A'N`!$[X@@ M_P!".,(FS'EOYJEXTW%]":W(?L5J$@$M>EO*:*MPON+2BS`=4HV;1JI4SS7> M7V+F':GT_MZ)?]1-*B8P4R-W`*L]FQ]+UJ]L3TD)CJ%E)#B,:3&FQH\R'(8E MQ);#4F+*C.MOQI,9]L76)$=]HC:>8>:-"`Q51(5147IRL,W$[7%B$&IIH$JTLYKCQC MU1"\DKK'&H*L`6=B%45(%20*G"6#^D]TFP\`:+>MQ!=[RU>ZM762VEU.Z= M'4@JRM/(592,B&!!!&1!KB&/NL8[D.4^#6WJ?%Z&ZR2W=F8!(:J9S3K_5.&-5L],@FN+MGM2$ MB1G<@74)8A5!-%`))ID`2FZ1S_HM[JUQ!:V02\!DFD2*,%K.=5! M=RJ@LQ"BIS)`&9PHE4Z3W2=O4`&G-L$1VU8(BFM\SZJ13F$1/6DZ>JKR6%IL MG>1NHJ:3J5?$7^K3>Z/^C%H+W?FQ5LIF.MZ/00O_`%VU_)/_`-N&7_>PPW,, MN\:M5Q<2Q/)LJE5VWZF381,9H;6_E0HQ87E<49,J+4Q);[$99+HM_$(4#O(1 MZ]51%H?YPM'U?5^/-,ATJUN+F:/549EBC>0J/9YQ5@@)`J0*G*I`ZD8E=Y#] M4M7EUF\M+.&71)%1IYHX5=O:;=NU6D906[06H#6@)I0'%#OA]IS;\3R MN\<9LS4VSH4*#N?7\^=-FX!ED*%!@P<@ARYLV9,E5#,:+$B163<<<<,0`!55 M7IQ*>)MG;N@Y-T">;2]02"/5K5F9K>4*JK,A9F)0`!0"23D`"3D,4+YKWOLJ M;A_<\$&LZ3)/)H=XB*EY;LSNT+*JJJR%F9F("@`DD@#%M7OI8'G67VWC7)Q' M"@%V]>U>C0>=+ M0=AC%$\@4DVU`Q130FAH#F0#3H<)Q^[\W#M_1;+=,6M7 M]E9RR26!03SQ0EPHNPQ42.O<%)`-*TJ*]1BAVMTCNLXU^0Z;VP0M4H&XJ:WS M/H`KD&/MHJ]:5/I,T3T_R\2BWV1O,PSD:3J5!$/ZM-_&1_\`1BA5UOW8BRVX M.N:-4SD#]MM<_P!#,?XWW`<7/^\'YY?>>QLO$C4MPA8[3RF/ZU9)6R>H75S% M<"3&US#?8/LMEZK\66(1O1&7Q-N_-?S=[?-)Q?M:;]BB8>WRH?HFUBYEWE!_B;;;KSK3##3K[[[K;####9O/OOO&+3+##+:$X\\ M\Z2"`"BD1*B(BJO/[1'E<1Q@M(Q```J23T`'I)QX9D13)(0L:@DDD```5)). M0`&9)R`S.&__`&NO!%KQ;UPNQ]AUC?\`7?9E7%=NFI+0$_K[%G5;F0<&B&O< MK5DZ:!(MS%4[Y0@PG4(PD=7O+;PHG&NW_I_78A]M-1B4R`C.VA/K+;CW'.33 MD4]8*F8C[FBKYM/,(_+>Y_LOMF4_Z>Z5,PB*G*\N!57NF]U`*I;`](RTF32D M+:UQF\)_@X8,'#!BF/W9O`Q=\88[O_5E0CFXM=4QID5-7QNZ7LG!J\3?@=>IR8WQ(O[1?+H*C>:'A+[<:.=[[;CKNNPB/BQJ,[JW7,@`" MIFA%2GI=.Z/,B,!Y?)QYAQQYK@XXW=-39&ISCP97;U;&[?(,2?>V\YHLOH1^ MV7(>(2I\BHJ(J?0O_0J+_P!:+ZHJO/-;:+5^(FV[A%M*V*\.D,ELY7[=G5Q0)][6LR0^O4Y]1'$W:=2+J[ M$$HJ=%88$Z&^4_F[VR&/BW=$H]JC4_1\KGWZ`5-J2?A(*F#W4K$*=L:F7GG8 M\O'LJJJJO5 M5_M7D&-=).MWA.9]JE_/;'94V_EH%@!T]B@^23'5N?*Q]?!PP8O_`/9\\#/O M/95GEOMNF[L=IY+AZ2QVRC]0N[J*Z;#^QYD=\.URLIG@)JHZHJ.RT.4G1&&" M<>SRH\(>W3Q\H;JA_8HF/L$3C]9(IH;IE/P(R*0UZR`R9>&A:2?M42#*VN&/OP!DL,Y_P""2DK4 M*\:BN_DR\P_VVT=.+-X3]V[M/A_8Y9&JUY:QC]46.;7%LH_[I(`&S:*1C2-Q M,\/I@X8,2"\3%5/*;QP5%5%3>.KU14545%^^-1ZHJ>J+SGG%I(Y+V_3_`/M6 M?SB/&<0QFF5-/QY#3C#[#H7U@)M/,NB#C3@$G11)$5%^GD&M?1 MX]=O8Y`5D6[E!!%"")&J"#F"/2#TQV4MN.DNW=/DB96C:QMR""""#"E"",B# MZ",L=2Y\C'V<6$>W;X2VOF'MUL;Z-.A:4P*1#L]EWK*.L):D1(]78%43![.V MVR%`59#@%W0X"&YZ.&PA[YP#PY<\K;I#7RR)M"Q97NI!4=_I6W1ORY:>L1G' M'W-4-V!EM\S'/-GPELPMISQR;[U%6CL8C0^'Z'NY%_BX:^H"*2S=J9J)"KH5 M-356.U%7045=#J*2DKX=3455>PW%@5M97QVXD&##C-"+3$6+&:$``41!$41. M5XL[2UT^TBL;*-(K.&-4C10`J(H"JJ@9`*```.@Q#"^OKS4[V;4=1E>:_N)6 MDDD'F2^'&YIN'O).M-;Y-\U=ZKRZ2'?_`!:@ M1X4?I+*2`HU]YL7<>"/,']DG6U:DH*`^B)'?FWB;4>)]VOIK!Y-O7):2SF/P MXZYQL1EXL1(5P*5':X`5U&+Q>7WFS2^;MCQZTGAP[HM.V+4+=0!)RG0GI[@S/N#&;0#,^Z2`/=)`ZX?7Y;['7=P<,&#A@P<,&#A@P<,&#A@ MP<,&#A@PC[[D'ZX_)#_CL/L"FY&KS"_?-K_]\_FTQ?+RP?<#M?ZO/RTN(2\Q MC&\X;:]D3]&EC^=&>?9F*&IOJC8'X/M.,3Y5_OITSXNX^0DPKOG+_V E]:S\=9_.8\.;