-----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,
 BhcwocM129qtUym4v7lTZ/kYRr2NYDD6k98EPhSDeaiNtmPtkm2cuxsNKl4jKSVR
 jfYp1B9IENOpl121DhNe0w==

<SEC-DOCUMENT>9999999997-08-028159.txt : 20080612
<SEC-HEADER>9999999997-08-028159.hdr.sgml : 20080612
<ACCEPTANCE-DATETIME>20080612154806
ACCESSION NUMBER:		9999999997-08-028159
CONFORMED SUBMISSION TYPE:	CT ORDER
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20080612
DATE AS OF CHANGE:		20080612
<ACTION-DATE>20080612
<RECEIVED-DATE>20080612

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Copa Holdings, S.A.
		CENTRAL INDEX KEY:			0001345105
		STANDARD INDUSTRIAL CLASSIFICATION:	AIR TRANSPORTATION, SCHEDULED [4512]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			R1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CT ORDER
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32696
		FILM NUMBER:		08895766

	BUSINESS ADDRESS:	
		STREET 1:		AVENIDA PRINCIPAL, COSTA DEL ESTE
		STREET 2:		COMPLEJO BUSINESS PARK, TORRE NORTE
		CITY:			PANAMA CITY
		STATE:			R1
		ZIP:			00000
		BUSINESS PHONE:		011 507 227 2522

	MAIL ADDRESS:	
		STREET 1:		AVENIDA PRINCIPAL, COSTA DEL ESTE
		STREET 2:		COMPLEJO BUSINESS PARK, TORRE NORTE
		CITY:			PANAMA CITY
		STATE:			R1
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>CT ORDER
<SEQUENCE>1
<FILENAME>filename1.pdf
<TEXT>
<PDF>
begin 644 filename1.pdf
M)5!$1BTQ+C0-)>+CS],-"C0W(#`@;V)J#3P\+TQI;F5A<FEZ960@,2],(#$S
M,C(X+T\@-#DO12`V.3DS+TX@,2]4(#$R,C0Q+T@@6R`U-38@,3<V73X^#65N
M9&]B:@T@("`@("`@("`@("`@("`@("`@#0IX<F5F#0HT-R`Q,PT*,#`P,#`P
M,#`Q-B`P,#`P,"!N#0HP,#`P,#`P.#DY(#`P,#`P(&X-"C`P,#`P,#$Q-S(@
M,#`P,#`@;@T*,#`P,#`P,30Q-2`P,#`P,"!N#0HP,#`P,#`Q.#,T(#`P,#`P
M(&X-"C`P,#`P,#$X-CD@,#`P,#`@;@T*,#`P,#`P,S(Y,R`P,#`P,"!N#0HP
M,#`P,#`S-S,Q(#`P,#`P(&X-"C`P,#`P,#8T,C0@,#`P,#`@;@T*,#`P,#`P
M-C8W,R`P,#`P,"!N#0HP,#`P,#`V.3$V(#`P,#`P(&X-"C`P,#`P,#`W,S(@
M,#`P,#`@;@T*,#`P,#`P,#4U-B`P,#`P,"!N#0IT<F%I;&5R#0H\/"]3:7IE
M(#8P+U!R978@,3(R,S`O6%)E9E-T;2`W,S(O4F]O="`T."`P(%(O26YF;R`V
M(#`@4B])1%L\,$0Y.3@S.3)$-T8U-#(W.3(V-#,X,3,T-30T1#8Q,4,^/#!%
M,49#,#8U-45$0S=#-#4Y-D,V-S5#,C%&,T8T-S0S/ET^/@T*<W1A<G1X<F5F
M#0HP#0HE)45/1@T*("`-"C4Y(#`@;V)J#3P\+TQE;F=T:"`X-B]#(#DU+T9I
M;'1E<B]&;&%T941E8V]D92])(#$Q-R],(#<Y+U,@,SD^/G-T<F5A;0T*>-IB
M8&#@9&!@?L(`!&)[&5`!$Q"S,'`<8%!`$N2$8@8&908>7L8&!M9<2:LDWH0+
M3`M@FF3/0S5;`3$C`X/40@C-K`<WA8V!04\!(LKP#2#``'A!">H-"F5N9'-T
M<F5A;0UE;F1O8FH--3@@,"!O8FH-/#PO3&5N9W1H(#(P+T9I;'1E<B]&;&%T
M941E8V]D92]76S$@,2`Q72]);F1E>%LW(#0P72]$96-O9&5087)M<SP\+T-O
M;'5M;G,@,R]0<F5D:6-T;W(@,3(^/B]3:7IE(#0W+U1Y<&4O6%)E9CX^<W1R
M96%M#0IXVF)B8F1@8F!@'*P8(,``)]<`>PT*96YD<W1R96%M#65N9&]B:@TT
M."`P(&]B:@T\/"]-87)K26YF;SP\+TQE='1E<G-P86-E1FQA9W,@,"]-87)K
M960@=')U93X^+TUE=&%D871A(#4@,"!2+U!I96-E26YF;SP\+TUA<FME9%!$
M1CP\+TQA<W1-;V1I9FEE9"A$.C(P,#@P-C$R,34T-3(U*3X^/CXO4&%G97,@
M-"`P(%(O4&%G94QA>6]U="]/;F5#;VQU;6XO4W1R=6-T5')E95)O;W0@-R`P
M(%(O5'EP92]#871A;&]G+TQA;F<H_O\`10!.`"T`50!3*2],87-T36]D:69I
M960H1#HR,#`X,#8Q,C$U-#4R-2DO4&%G94QA8F5L<R`R(#`@4CX^#65N9&]B
M:@TT.2`P(&]B:@T\/"]#<F]P0F]X6S`@,"`V,3(@-SDR72]087)E;G0@-"`P
M(%(O4W1R=6-T4&%R96YT<R`P+T-O;G1E;G1S(#4R(#`@4B]2;W1A=&4@,"]-
M961I84)O>%LP(#`@-C$R(#<Y,ETO4F5S;W5R8V5S/#PO0V]L;W)3<&%C93P\
M+T-3,"`U,2`P(%(^/B]&;VYT/#PO5%0P(#4P(#`@4B]45#$@-3,@,"!2/CXO
M4')O8U-E=%LO4$1&+U1E>'1=+T5X=$=3=&%T93P\+T=3,"`U-R`P(%(^/CX^
M+U1Y<&4O4&%G93X^#65N9&]B:@TU,"`P(&]B:@T\/"]3=6)T>7!E+U1R=654
M>7!E+T9O;G1$97-C<FEP=&]R(#4U(#`@4B],87-T0VAA<B`Q,3<O5VED=&AS
M6S(U,"`P(#`@-3`P(#`@,"`P(#`@,"`P(#`@,"`R-3`@,S,S(#(U,"`P(#4P
M,"`U,#`@-3`P(#4P,"`U,#`@,"`U,#`@,"`U,#`@-3`P(#`@,"`P(#`@,"`P
M(#`@-S(R(#`@-S(R(#<R,B`V-C<@-C$Q(#<W."`W-S@@,S@Y(#4P,"`P(#8V
M-R`Y-#0@-S(R(#<W."`P(#`@-S(R(#4U-B`V-C<@-S(R(#`@,"`W,C(@,"`P
M(#`@,"`P(#`@-3`P(#`@-3`P(#`@,"`U-38@-#0T(#`@-3`P(#`@,C<X(#`@
M,"`R-S@@,"`U-38@-3`P(#4U-B`P(#`@,S@Y(#`@-34V72]"87-E1F]N="]4
M:6UE<TYE=U)O;6%N4%,M0F]L9$U4+T9I<G-T0VAA<B`S,B]%;F-O9&EN9R]7
M:6Y!;G-I16YC;V1I;F<O5'EP92]&;VYT/CX-96YD;V)J#34Q(#`@;V)J#5LO
M24-#0F%S960@-30@,"!270UE;F1O8FH--3(@,"!O8FH-/#PO3&5N9W1H(#$S
M-3,O1FEL=&5R+T9L871E1&5C;V1E/CYS=')E86T-"DB)K%?;;MLX$'WW5PRP
M+]+"8D3J8JDH"CB^I"XVSL)6@`6:Q4*6Z$0+17(EN6G^?H>D;G;D!@76!:H;
M>>;PG)DA<QV,KOZ$CQ^O;F>K.9CPZ=/U?`:CJ]G6A*C$%^(?E%$VNKK!5X_E
MZ"H(3*`0[$>4R:]XL4P7)J9'/!N"YY$&>O#O:'$K<#ILVF";8%!"'0CF%T:R
M9F3P^X415C/",(EI4@^"")J[%S`LXGM.$R4>?=7NUZM@H1N.-H>M;KA:,`W$
MTV(+^M_!ES?P]@D\KJV&%W<([Y*)UT??+F;WFU6P$L@(.5W/`8/9VE^SS]/U
MC;R%V=WM[6J[7=VMAT,ZG3HBF(A#33)Q>\L8EL(]Y4I;KE1R9<0W^QA?CAE'
MQ\;`3-,;!)R\96)0AYC^NU2\4RI^2\47(`[QW;YJ=YOY8@,WNN%IF^DZ6*UO
M4*3U4JJC`%@#X#"I!R.V+0AA_-5\@5.F?T"P64R#6WP89.2W:ZGQQ%H8<9VS
M[!!,@L\+:)Q$%Q>U>S"=!7"W!.I;(F7L8?NH.:":0R;VNZ)1^E,#J47<7K)I
ML_P0PN<\C9/LL1S#EDS),"Q[2\@F%GN73E=:+G'LWO!EDG)8YP20F6$Q5[@)
ML^5OC%%F#V.U=40)\WM0_PS]AB':NL"V0U7;$0Y.E*[V3Q;BGG@_$2H8S>T+
M8&OYBA,--G',05'+X^Y9][6DJG@,80:A[FB'0YI$XJ9*\@R.NJME,2]@<T1E
M&#[9.X-!P;\=>2D&Z;:&@"IA9'>R6A+,:DE$>;87(V.>58D`3Z$JN(PB".!;
M$-]ST48*2#+U0+5"?`TEDZ0"_B,24W6#:L>8MR%[ZZ8R)/6)A=EOJLR/85_D
M`@>J)PZ+'T_)+JE*J'((89G+"-@HC"7LT?RX6XG*4J/79VK<SF.D=1N^@J\Z
MS84D'>@U%WL^]7K;0N?==5@B,XQ6\$/!2Y1+:E+"[A7.?.V,:-G;(B2CQ&2M
M)M+]ZBFL\+^D'!;\VS%,$^D:+R$L>\+8G<6^:L`*O-=NA.&UVRE$^?,S+R)Q
MFQ<H<Q9F\@'#YH5N3+1GW=/"#M_IA'>DGQ/B^PUUE98R)X6?RX+S.!<`D.]A
MI1!=A2B'3J.JIXK9I2>M397@G:<.W),MF1%P'/:@[1[T!\U^T,<RV#SYGI0"
M%$/-\N*0%V$E;.QV4*4*JUE[5JNXF+64*^?PA&K&O.*%8)ED:&V65R(A#\<=
M%E_Z.IB$*K>-&K8C'"=EE.8EQPHA@,N-\D+D0OHZQH)IV76>4;G!4VQ7K"$7
MI5A/\9D?4CU9.IXJG7V>IKEBUNW?%K&;16HOHA-P56`/6OF@PTN2IG)Q.PX#
M0M5'&6:?[U8%3[G,>11%A%;"(`-E>I4(4EPT`CCP(LEC%:X\\`A3%CL:%H[&
MXP\7-C+_%TJ2F2<]5N8/]F;;ERU6G?-L>=##>H6FOX`N"Q>/-_8$[VW;$1H6
M^?'QJ?XTYQ$7J]AA(JLW%AW7=TR8/4B=#9TP+P3V_M?``WOM9<VL$\W.&^E)
M;UO6GLZP28AR*$6!C45G.ZNXH?Y`I0G4(SZM<["MRU[!C3%_BO(89K+(VCSL
M6H%9EY;$Z5469N%C*/?&8_64%TGU^F%XO?:OB..\>_1G[OM#VFU%'A0PJE)5
M_C;"388-72J<XL46#18OHC3D4Z:^<?6RMG\K+E0CZJE^>:W`ZNGUO$@]%0JL
M#K07%PO/!/+EA3PZV^'DKXY[..$4G?"MPZ<-MCK3G*SS*"Y.P[!4$_C9O$%.
M?N\`5O_=)XVDZE3J7CZ!6>;0V<T;/+@M@M%_`@P`1!5_(@T*96YD<W1R96%M
M#65N9&]B:@TU,R`P(&]B:@T\/"]3=6)T>7!E+U1R=654>7!E+T9O;G1$97-C
M<FEP=&]R(#4V(#`@4B],87-T0VAA<B`Q,C$O5VED=&AS6S(U,"`P(#`@,"`P
M(#`@,"`P(#,S,R`S,S,@,"`P(#(U,"`S,S,@,C4P(#`@-3`P(#4P,"`U,#`@
M-3`P(#4P,"`U,#`@,"`U,#`@-3`P(#4P,"`R-S@@,"`P(#`@,"`P(#`@-S(R
M(#8V-R`V-C<@-S(R(#8Q,2`U-38@,"`W,C(@,S,S(#`@,"`P(#@X.2`P(#`@
M,"`P(#8V-R`U-38@,"`W,C(@,"`P(#`@,"`P(#`@,"`P(#`@,"`P(#0T-"`U
M,#`@-#0T(#4P,"`T-#0@,S,S(#4P,"`U,#`@,C<X(#`@,"`R-S@@-S<X(#4P
M,"`U,#`@-3`P(#4P,"`S,S,@,S@Y(#(W."`U,#`@-3`P(#<R,B`U,#`@-3`P
M72]"87-E1F]N="]4:6UE<TYE=U)O;6%N4%--5"]&:7)S=$-H87(@,S(O16YC
M;V1I;F<O5VEN06YS:45N8V]D:6YG+U1Y<&4O1F]N=#X^#65N9&]B:@TU-"`P
M(&]B:@T\/"],96YG=&@@,C4Y."]&:6QT97(O1FQA=&5$96-O9&4O3B`S+T%L
M=&5R;F%T92]$979I8V521T(^/G-T<F5A;0T*:-Z<EG=45-<6A\^]=WJAS3#2
M&7J3+C"`]"X@'011&&8&&,H`PPQ-;(BH0$01$0%%D*"``:.A2*R(8B$HJ&`/
M2!!08C"*J*AD1M9*?'EY[^7E]\>]W]IG[W/WV7N?M2X`)$\?+B\%E@(@F2?@
M!WHXTU>%1]"Q_0`&>(`!I@`P6>FIOD'NP4`D+S<7>KK("?R+W@P!2/R^9>CI
M3Z>#_T_2K%2^``#(7\3F;$XZ2\3Y(D[*%*2*[3,BIL8DBAE&B9DO2E#$<F*.
M6^2EGWT6V5',[&0>6\3BG%/9R6PQ]XAX>X:0(V+$1\0%&5Q.IHAOBU@S29C,
M%?%;<6PRAYD.`(HDM@LXK'@1FXB8Q`\.=!'Q<@!PI+@O..8+%G"R!.)#N:2D
M9O.Y<?$"NBY+CVYJ;<V@>W(RDS@"@:$_DY7(Y+/I+BG)J4Q>-@"+9_XL&7%M
MZ:(B6YI:6UH:FAF9?E&H_[KX-R7N[2*]"OC<,XC6]X?MK_Q2Z@!@S(IJL^L/
M6\Q^`#JV`B!W_P^;YB$`)$5]:[_QQ7EHXGF)%PA2;8R-,S,SC;@<EI&XH+_K
M?SK\#7WQ/2/Q=K^7A^[*B64*DP1T<=U8*4DI0CX]/97)XM`-_SS$_SCPK_-8
M&LB)Y?`Y/%%$J&C*N+PX4;MY;*Z`F\*C<WG_J8G_,.Q/6IQKD2CUGP`UR@A(
MW:`"Y.<^@*(0`1)Y4-SUW_OF@P\%XIL7ICJQ./>?!?W[KG")^)'.C?L<YQ(8
M3&<)^1F+:^)K"="``"0!%<@#%:`!=($A,`-6P!8X`C>P`OB!8!`.U@(6B`?)
M@`\R02[8#`I`$=@%]H)*4`/J02-H`2=`!S@-+H#+X#JX">Z`!V`$C(/G8`:\
M`?,0!&$A,D2!Y"%52`LR@,P@!F0/N4$^4"`4#D5#<1`/$D*YT!:H""J%*J%:
MJ!'Z%CH%78"N0@/0/6@4FH)^A=[#"$R"J;`RK`T;PPS8"?:&@^$U<!R<!N?`
M^?!.N`*N@X_![?`%^#I\!QZ!G\.S"$"("`U10PP1!N*"^"$12"S"1S8@A4@Y
M4H>T(%U(+W(+&4&FD7<H#(J"HJ,,4;8H3U0(BH5*0VU`%:,J44=1[:@>U"W4
M*&H&]0E-1BNA#=`V:"_T*G0<.A-=@"Y'-Z#;T)?0=]#CZ#<8#(:&T<%883PQ
MX9@$S#I,,>8`IA5S'C.`&</,8K%8>:P!U@[KAV5B!=@"['[L,>PY["!V'/L6
M1\2IXLQP[K@('`^7ARO'->'.X@9Q$[AYO!1>"V^#]\.S\=GX$GP]O@M_`S^.
MGR=($W0(=H1@0@)A,Z&"T$*X1'A(>$4D$M6)UL0`(I>XB5A!/$Z\0APEOB/)
MD/1)+J1(DI"TDW2$=)YTC_2*3"9KDQW)$60!>2>YD7R1_)C\5H(B823A)<&6
MV"A1)=$N,2CQ0A(OJ27I)+E6,D>R7/*DY`W):2F\E+:4BQ13:H-4E=0IJ6&I
M66F*M*FTGW2R=+%TD_15Z4D9K(RVC)L,6R9?YK#,19DQ"D+1H+A06)0ME'K*
M)<HX%4/5H7I1$ZA%U&^H_=0961G99;*ALEFR5;)G9$=H"$V;YD5+HI703M"&
M:.^7*"]Q6L)9LF-)RY+!)7-RBG*.<ARY0KE6N3MR[^7I\F[RB?*[Y3OD'RF@
M%/05`A0R%0XJ7%*85J0JVBJR%`L53RC>5X*5])4"E=8I'5;J4YI55E'V4$Y5
MWJ]\47E:A:;BJ)*@4J9R5F5*E:)JK\I5+5,]I_J,+DMWHB?1*^@]]!DU)35/
M-:%:K5J_VKRZCGJ(>IYZJ_HC#8(&0R-6HTRC6V-&4U735S-7LUGSOA9>BZ$5
MK[5/JU=K3EM'.TQ[FW:']J2.G(Z73HY.L\Y#7;*N@VZ:;IWN;3V,'D,O4>^`
MWDU]6-]"/UZ_2O^&`6Q@:<`U.&`PL!2]U'HI;VG=TF%#DJ&3889AL^&H$<W(
MQRC/J,/HA;&F<83Q;N->XT\F%B9))O4F#TQE3%>8YIEVF?YJIF_&,JLRNVU.
M-G<WWVC>:?YRF<$RSK*#R^Y:4"Q\+;99=%M\M+2RY%NV6$Y9:5I%6U5;#3.H
M#']&,>.*-=K:V7JC]6GK=S:6-@*;$S:_V!K:)MHVV4XNUUG.65Z_?,Q.W8YI
M5VLW8D^WC[8_9#_BH.;`=*AS>.*HX<AV;'"<<-)S2G`ZYO3"V<29[]SF/.=B
MX[+>Y;PKXNKA6NC:[R;C%N)6Z?;87=T]SKW9?<;#PF.=QWE/M*>WYV[/82]E
M+Y97H]?,"JL5ZU?T>).\@[PKO9_XZ/OP?;I\8=\5OGM\'Z[46LE;V>$'_+S\
M]O@]\M?Q3_/_/@`3X!]0%?`TT#0P-[`WB!(4%=04]";8.;@D^$&(;H@PI#M4
M,C0RM#%T+LPUK#1L9)7QJO6KKH<KA'/#.R.P$:$1#1&SJ]U6[UT]'FD161`Y
MM$9G3=::JVL5UB:M/1,E&<6,.AF-C@Z+;HK^P/1CUC%G8[QBJF-F6"ZL?:SG
M;$=V&7N*8\<IY4S$VL66QD[&V<7MB9N*=X@OCY_FNG`KN2\3/!-J$N82_1*/
M)"XDA26U)N.2HY-/\61XB;R>%)64K)2!5(/4@M21-)NTO6DS?&]^0SJ4OB:]
M4T`5_4SU"76%6X6C&?8951EO,T,S3V9)9_&R^K+ULW=D3^2XYWR]#K6.M:X[
M5RUW<^[H>J?UM1N@#3$;NC=J;,S?.+[)8]/1S83-B9M_R#/)*\U[O25L2U>^
M<OZF_+&M'EN;"R0*^`7#VVRWU6Q';>=N[]]AOF/_CD^%[,)K129%Y44?BEG%
MU[XR_:KBJX6=L3O[2RQ+#N["[.+M&MKML/MHJ71I3NG8'M\][67TLL*RUWNC
M]EXM7U9>LX^P3[AOI,*GHG._YOY=^S]4QE?>J7*N:JU6JMY1/7>`?6#PH./!
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M>KB0O+#PFP`#`/>$\_L*#0IE;F1S=')E86T-96YD;V)J#34U(#`@;V)J#3P\
M+U-T96U6(#$S-B]&;VYT3F%M92]4:6UE<TYE=U)O;6%N4%,M0F]L9$U4+T9O
M;G13=')E=&-H+TYO<FUA;"]&;VYT5V5I9VAT(#<P,"]&;&%G<R`S-"]$97-C
M96YT("TR,38O1F]N=$)";WA;+34U."`M,S`W(#(P,#`@,3`R-ETO07-C96YT
M(#@Y,2]&;VYT1F%M:6QY*%1I;65S($YE=R!2;VUA;BDO0V%P2&5I9VAT(#8U
M-B]82&5I9VAT("TU-#8O5'EP92]&;VYT1&5S8W)I<'1O<B])=&%L:6-!;F=L
M92`P/CX-96YD;V)J#34V(#`@;V)J#3P\+U-T96U6(#@R+T9O;G1.86UE+U1I
M;65S3F5W4F]M86Y04TU4+T9O;G13=')E=&-H+TYO<FUA;"]&;VYT5V5I9VAT
M(#0P,"]&;&%G<R`S-"]$97-C96YT("TR,38O1F]N=$)";WA;+34V."`M,S`W
M(#(P,#`@,3`P-UTO07-C96YT(#@Y,2]&;VYT1F%M:6QY*%1I;65S($YE=R!2
M;VUA;BDO0V%P2&5I9VAT(#8U-B]82&5I9VAT("TU-#8O5'EP92]&;VYT1&5S
M8W)I<'1O<B])=&%L:6-!;F=L92`P/CX-96YD;V)J#34W(#`@;V)J#3P\+T]0
M32`Q+T]0(&9A;'-E+V]P(&9A;'-E+U1Y<&4O17AT1U-T871E+U-!(&9A;'-E
M+U--(#`N,#(^/@UE;F1O8FH-,2`P(&]B:@T\/"]&:7)S="`S,#8O3&5N9W1H
M(#<Q."]&:6QT97(O1FQA=&5$96-O9&4O3B`T,"]4>7!E+T]B:E-T;3X^<W1R
M96%M#0IXVMR436\:,1"&^U/FV!Y2KSW>+RE"(B1(B(1$6:(>HAXVQ*&H9!>9
MI6K^?=_UE'P=(GQL)6"8V=?/C&?LS2FA@G224$F<&OPCSC5I36D)8R@SEC13
M;G/2EHJL))U266:D\3$(:3PP&7Z`8:S34'":DDE@RY(,0M8R&<!MD9-A$%A3
MSTT+2R8%RA1D>F1NR`"5`XJ0SC/XX!5)3@Q>@0JQ5!<E?/!*"Q^\$EP&*D&0
M^]0Y_`RID92!`I@8*1`@1DDFS<DF*"4Q9%$*8W=`&2[AHU2+118\6\`'+P7,
M@I<6FHZ/U10M2^A:7=7>-=W<.X?NO0W,W.]NZIY(J^MV[2[J3=_97C)_VCA5
M=7ZW"+KKMNW4:%UOMT&C>\U@T.>X18/A]/T-IA`3$O7-#4:+,6)8C!63BA&*
M$8H1BA$*"X6%PD)AH;!06"@L%!8*"X6%8H5BA6*%8H5BA6*%8@/EN[JBP%&5
MJMRB4^=UL_Q\-CNZJ3Y]"7N?[1ZWMTE_T'IY"$V:]:IQU8\:W1NOECOOU*EO
M-Z-ZLW<O=UTO4=6F;E2UN]LN_&K3[=V-\Z\#\\LAOB-\Q\%B(*N?KMWM'V-Z
M)^UO=;KZI6:M?ZS7ZDJ=-?=-VSD$\#/&W%Z\F^;>^9?LH$YZ[$2-??WH`N9-
MZ4@O`MENR'"KI7-:.J?MR^8!7;CA0^<\)5^34-UPO5HV:H33YKRZ1`N?^N*_
M^56W:I87[;U3YWY^)RM/W$/KW?/2"8IMNN!B2Z^\JJO]JZ<?IP[B?RWS$1O[
M8?+P?##X?^\>&CLD.6EJM#_;4TIP)XN_=W)_X)=DR^?7T?.B*5YIAVM-A)8C
MM#9"FT9HLP.T_+YY>42"(D);'EP,AA(UP9@1ZI@9ZI@A:ANSP31&G,6(\QAQ
M$2..F:!)8L0Z1FQBQ!PCCIF@B9F@B9F@.62"]OVU-3%WT<2,DC\>Y1\!!@`*
MU-4?#0IE;F1S=')E86T-96YD;V)J#3(@,"!O8FH-/#PO3G5M<ULP(#,@,"!2
M73X^#65N9&]B:@TS(#`@;V)J#3P\+U,O1#X^#65N9&]B:@TT(#`@;V)J#3P\
M+T-O=6YT(#$O5'EP92]086=E<R]+:61S6S0Y(#`@4ET^/@UE;F1O8FH--2`P
M(&]B:@T\/"]3=6)T>7!E+UA-3"],96YG=&@@,SDY,"]4>7!E+TUE=&%D871A
M/CYS=')E86T-"CP_>'!A8VME="!B96=I;CTB[[N_(B!I9#TB5S5-,$UP0V5H
M:4AZ<F53>DY48WIK8SED(C\^"CQX.GAM<&UE=&$@>&UL;G,Z>#TB861O8F4Z
M;G,Z;65T82\B('@Z>&UP=&L](D%D;V)E(%A-4"!#;W)E(#0N,"UC,S$V(#0T
M+C(U,SDR,2P@4W5N($]C="`P,2`R,#`V(#$W.C$T.C,Y(CX*("`@/')D9CI2
M1$8@>&UL;G,Z<F1F/2)H='1P.B\O=W=W+G<S+F]R9R\Q.3DY+S`R+S(R+7)D
M9BUS>6YT87@M;G,C(CX*("`@("`@/')D9CI$97-C<FEP=&EO;B!R9&8Z86)O
M=70](B(*("`@("`@("`@("`@>&UL;G,Z<&1F/2)H='1P.B\O;G,N861O8F4N
M8V]M+W!D9B\Q+C,O(CX*("`@("`@("`@/'!D9CI0<F]D=6-E<CY!8W)O8F%T
M($1I<W1I;&QE<B`X+C$N,"`H5VEN9&]W<RD\+W!D9CI0<F]D=6-E<CX*("`@
M("`@/"]R9&8Z1&5S8W)I<'1I;VX^"B`@("`@(#QR9&8Z1&5S8W)I<'1I;VX@
M<F1F.F%B;W5T/2(B"B`@("`@("`@("`@('AM;&YS.G!D9G@](FAT='`Z+R]N
M<RYA9&]B92YC;VTO<&1F>"\Q+C,O(CX*("`@("`@("`@/'!D9G@Z0V]M<&%N
M>3Y314,\+W!D9G@Z0V]M<&%N>3X*("`@("`@("`@/'!D9G@Z4V]U<F-E36]D
M:69I960^1#HR,#`X,#8Q,C$Y-#0T-#PO<&1F>#I3;W5R8V5-;V1I9FEE9#X*
M("`@("`@/"]R9&8Z1&5S8W)I<'1I;VX^"B`@("`@(#QR9&8Z1&5S8W)I<'1I
M;VX@<F1F.F%B;W5T/2(B"B`@("`@("`@("`@('AM;&YS.GAA<#TB:'1T<#HO
M+VYS+F%D;V)E+F-O;2]X87`O,2XP+R(^"B`@("`@("`@(#QX87`Z0W)E871O
M<E1O;VP^06-R;V)A="!01$9-86ME<B`X+C$@9F]R(%=O<F0\+WAA<#I#<F5A
M=&]R5&]O;#X*("`@("`@("`@/'AA<#I-;V1I9GE$871E/C(P,#@M,#8M,3)4
M,34Z-#4Z,C4M,#0Z,#`\+WAA<#I-;V1I9GE$871E/@H@("`@("`@("`\>&%P
M.D-R96%T941A=&4^,C`P."TP-BTQ,E0Q-3HT-3HR,BTP-#HP,#PO>&%P.D-R
M96%T941A=&4^"B`@("`@("`@(#QX87`Z365T861A=&%$871E/C(P,#@M,#8M
M,3)4,34Z-#4Z,C4M,#0Z,#`\+WAA<#I-971A9&%T841A=&4^"B`@("`@(#PO
M<F1F.D1E<V-R:7!T:6]N/@H@("`@("`\<F1F.D1E<V-R:7!T:6]N(')D9CIA
M8F]U=#TB(@H@("`@("`@("`@("!X;6QN<SIX87!-33TB:'1T<#HO+VYS+F%D
M;V)E+F-O;2]X87`O,2XP+VUM+R(^"B`@("`@("`@(#QX87!-33I$;V-U;65N
M=$E$/G5U:60Z-#`R.#9E,S4M-C0V-BTT8F8U+3DT9&$M.38V,#<Y.#(T,S<W
M/"]X87!-33I$;V-U;65N=$E$/@H@("`@("`@("`\>&%P34TZ26YS=&%N8V5)
M1#YU=6ED.F8R-3EE,S!D+3(Q-V(M-&)A8RUB.#4Y+3`Y9&0P8SDW-F8S-#PO
M>&%P34TZ26YS=&%N8V5)1#X*("`@("`@("`@/'AA<$U-.G-U8FIE8W0^"B`@
M("`@("`@("`@(#QR9&8Z4V5Q/@H@("`@("`@("`@("`@("`\<F1F.FQI/C,\
M+W)D9CIL:3X*("`@("`@("`@("`@/"]R9&8Z4V5Q/@H@("`@("`@("`\+WAA
M<$U-.G-U8FIE8W0^"B`@("`@(#PO<F1F.D1E<V-R:7!T:6]N/@H@("`@("`\
M<F1F.D1E<V-R:7!T:6]N(')D9CIA8F]U=#TB(@H@("`@("`@("`@("!X;6QN
M<SID8STB:'1T<#HO+W!U<FPN;W)G+V1C+V5L96UE;G1S+S$N,2\B/@H@("`@
M("`@("`\9&,Z9F]R;6%T/F%P<&QI8V%T:6]N+W!D9CPO9&,Z9F]R;6%T/@H@
M("`@("`@("`\9&,Z8W)E871O<CX*("`@("`@("`@("`@/')D9CI397$^"B`@
M("`@("`@("`@("`@(#QR9&8Z;&D^1F%I<V]N5CPO<F1F.FQI/@H@("`@("`@
M("`@("`\+W)D9CI397$^"B`@("`@("`@(#PO9&,Z8W)E871O<CX*("`@("`@
M("`@/&1C.G1I=&QE/@H@("`@("`@("`@("`\<F1F.D%L=#X*("`@("`@("`@
M("`@("`@/')D9CIL:2!X;6PZ;&%N9STB>"UD969A=6QT(B\^"B`@("`@("`@
M("`@(#PO<F1F.D%L=#X*("`@("`@("`@/"]D8SIT:71L93X*("`@("`@/"]R
M9&8Z1&5S8W)I<'1I;VX^"B`@(#PO<F1F.E)$1CX*/"]X.GAM<&UE=&$^"B`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@
M("`@("`@("`@("`@("`@("`@("`*/#]X<&%C:V5T(&5N9#TB=R(_/@T*96YD
M<W1R96%M#65N9&]B:@TV(#`@;V)J#3P\+T-R96%T:6]N1&%T92A$.C(P,#@P
M-C$R,34T-3(R+3`T)S`P)RDO075T:&]R*$9A:7-O;E8I+T-R96%T;W(H06-R
M;V)A="!01$9-86ME<B`X+C$@9F]R(%=O<F0I+U!R;V1U8V5R*$%C<F]B870@
M1&ES=&EL;&5R(#@N,2XP(%PH5VEN9&]W<UPI*2]-;V1$871E*$0Z,C`P.#`V
M,3(Q-30U,C4M,#0G,#`G*2]#;VUP86YY*%-%0RDO4V]U<F-E36]D:69I960H
M1#HR,#`X,#8Q,C$Y-#0T-"DO5&ET;&4H*3X^#65N9&]B:@UX<F5F#0HP(#0W
M#0HP,#`P,#`P,#`P(#8U-3,U(&8-"C`P,#`P,#8Y.3,@,#`P,#`@;@T*,#`P
M,#`P-S@P-R`P,#`P,"!N#0HP,#`P,#`W.#0Q(#`P,#`P(&X-"C`P,#`P,#<X
M-C4@,#`P,#`@;@T*,#`P,#`P-SDQ-R`P,#`P,"!N#0HP,#`P,#$Q.3@T(#`P
M,#`P(&X-"C`P,#`P,#`P,#`@-C4U,S4@9@T*,#`P,#`P,#`P,"`V-34S-2!F
M#0HP,#`P,#`P,#`P(#8U-3,U(&8-"C`P,#`P,#`P,#`@-C4U,S4@9@T*,#`P
M,#`P,#`P,"`V-34S-2!F#0HP,#`P,#`P,#`P(#8U-3,U(&8-"C`P,#`P,#`P
M,#`@-C4U,S4@9@T*,#`P,#`P,#`P,"`V-34S-2!F#0HP,#`P,#`P,#`P(#8U
M-3,U(&8-"C`P,#`P,#`P,#`@-C4U,S4@9@T*,#`P,#`P,#`P,"`V-34S-2!F
M#0HP,#`P,#`P,#`P(#8U-3,U(&8-"C`P,#`P,#`P,#`@-C4U,S4@9@T*,#`P
M,#`P,#`P,"`V-34S-2!F#0HP,#`P,#`P,#`P(#8U-3,U(&8-"C`P,#`P,#`P
M,#`@-C4U,S4@9@T*,#`P,#`P,#`P,"`V-34S-2!F#0HP,#`P,#`P,#`P(#8U
M-3,U(&8-"C`P,#`P,#`P,#`@-C4U,S4@9@T*,#`P,#`P,#`P,"`V-34S-2!F
M#0HP,#`P,#`P,#`P(#8U-3,U(&8-"C`P,#`P,#`P,#`@-C4U,S4@9@T*,#`P
M,#`P,#`P,"`V-34S-2!F#0HP,#`P,#`P,#`P(#8U-3,U(&8-"C`P,#`P,#`P
M,#`@-C4U,S4@9@T*,#`P,#`P,#`P,"`V-34S-2!F#0HP,#`P,#`P,#`P(#8U
M-3,U(&8-"C`P,#`P,#`P,#`@-C4U,S4@9@T*,#`P,#`P,#`P,"`V-34S-2!F
M#0HP,#`P,#`P,#`P(#8U-3,U(&8-"C`P,#`P,#`P,#`@-C4U,S4@9@T*,#`P
M,#`P,#`P,"`V-34S-2!F#0HP,#`P,#`P,#`P(#8U-3,U(&8-"C`P,#`P,#`P
M,#`@-C4U,S4@9@T*,#`P,#`P,#`P,"`V-34S-2!F#0HP,#`P,#`P,#`P(#8U
M-3,U(&8-"C`P,#`P,#`P,#`@-C4U,S4@9@T*,#`P,#`P,#`P,"`V-34S-2!F
M#0HP,#`P,#`P,#`P(#8U-3,U(&8-"C`P,#`P,#`P,#`@-C4U,S4@9@T*=')A
K:6QE<@T*/#PO4VEZ92`T-SX^#0IS=&%R='AR968-"C$Q-@T*)25%3T8-"C\_
`
end
</PDF>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----