8742 | ||||||||||||||
(Commission File Number) | (Primary Standard Industrial Classification Code Number) | (IRS Employer Identification Number) |
Title Of Each Class | Trading Symbol | Name Of Each Exchange On Which Registered | ||||||||||||
(Nasdaq Capital Market) |
THE RMR GROUP INC. | |||||||||||
By: | /s/ Matthew P. Jordan | ||||||||||
Name: | Matthew P. Jordan | ||||||||||
Title: | Executive Vice President, Chief Financial Officer and Treasurer | ||||||||||
Date: November 14, 2022 |
FOR IMMEDIATE RELEASE |
Total Management | ||||||||||||||||||||||||||
and Advisory | ||||||||||||||||||||||||||
AUM | Services Revenues (4) | |||||||||||||||||||||||||
As of or for the Three Months Ended September 30, 2022 | ||||||||||||||||||||||||||
Managed Public Real Estate Capital (1) | $ | 30,894,912 | 82.8 | % | $ | 38,115 | 73.7 | % | ||||||||||||||||||
Managed Private Real Estate Capital (2) | 3,862,102 | 10.4 | % | 5,247 | 10.1 | % | ||||||||||||||||||||
Managed Operating Companies (3) | 2,554,325 | 6.8 | % | 8,359 | 16.2 | % | ||||||||||||||||||||
Total | $ | 37,311,339 | 100.0 | % | $ | 51,721 | 100.0 | % | ||||||||||||||||||
As of or for the Three Months Ended September 30, 2021 | ||||||||||||||||||||||||||
Managed Public Real Estate Capital (1) | $ | 29,363,713 | 89.9 | % | $ | 37,053 | 79.1 | % | ||||||||||||||||||
Managed Private Real Estate Capital (2) | 1,345,754 | 4.1 | % | 2,432 | 5.2 | % | ||||||||||||||||||||
Managed Operating Companies (3) | 1,964,276 | 6.0 | % | 7,359 | 15.7 | % | ||||||||||||||||||||
Total | $ | 32,673,743 | 100.0 | % | $ | 46,844 | 100.0 | % |
Three Months Ended September 30, | Fiscal Year Ended September 30, | |||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||
Revenues: | ||||||||||||||||||||||||||
Management services (1) | $ | 50,583 | $ | 45,737 | $ | 195,450 | $ | 171,102 | ||||||||||||||||||
Incentive business management fees | — | — | — | 620 | ||||||||||||||||||||||
Advisory services | 1,138 | 1,107 | 4,530 | 3,956 | ||||||||||||||||||||||
Total management and advisory services revenues | 51,721 | 46,844 | 199,980 | 175,678 | ||||||||||||||||||||||
Reimbursable compensation and benefits | 14,592 | 12,916 | 56,684 | 52,369 | ||||||||||||||||||||||
Reimbursable equity based compensation | 4,176 | 3,543 | 7,072 | 9,154 | ||||||||||||||||||||||
Other reimbursable expenses | 171,704 | 110,181 | 568,767 | 370,037 | ||||||||||||||||||||||
Total reimbursable costs | 190,472 | 126,640 | 632,523 | 431,560 | ||||||||||||||||||||||
Total revenues | 242,193 | 173,484 | 832,503 | 607,238 | ||||||||||||||||||||||
Expenses: | ||||||||||||||||||||||||||
Compensation and benefits | 34,201 | 29,034 | 129,872 | 119,644 | ||||||||||||||||||||||
Equity based compensation | 5,417 | 4,755 | 10,136 | 12,022 | ||||||||||||||||||||||
Separation costs | 698 | 366 | 1,315 | 4,525 | ||||||||||||||||||||||
Total compensation and benefits expense | 40,316 | 34,155 | 141,323 | 136,191 | ||||||||||||||||||||||
General and administrative | 8,455 | 7,277 | 32,919 | 26,961 | ||||||||||||||||||||||
Other reimbursable expenses | 171,704 | 110,181 | 568,767 | 370,037 | ||||||||||||||||||||||
Transaction and acquisition related costs | 132 | 510 | 132 | 984 | ||||||||||||||||||||||
Depreciation and amortization | 262 | 239 | 993 | 973 | ||||||||||||||||||||||
Total expenses | 220,869 | 152,362 | 744,134 | 535,146 | ||||||||||||||||||||||
Operating income | 21,324 | 21,122 | 88,369 | 72,092 | ||||||||||||||||||||||
Interest and other income | 920 | 146 | 1,322 | 760 | ||||||||||||||||||||||
Gain on Tremont Mortgage Trust investment | — | 2,059 | — | 2,059 | ||||||||||||||||||||||
Equity in earnings (losses) of investees | — | (312) | — | 443 | ||||||||||||||||||||||
Unrealized gain on equity method investments accounted for under the fair value option | 9,863 | 12,779 | 1,010 | 18,811 | ||||||||||||||||||||||
Income before income tax expense | 32,107 | 35,794 | 90,701 | 94,165 | ||||||||||||||||||||||
Income tax expense | (4,785) | (5,043) | (13,233) | (13,152) | ||||||||||||||||||||||
Net income | 27,322 | 30,751 | 77,468 | 81,013 | ||||||||||||||||||||||
Net income attributable to noncontrolling interest | (15,322) | (17,125) | (43,464) | (45,317) | ||||||||||||||||||||||
Net income attributable to The RMR Group Inc. | $ | 12,000 | $ | 13,626 | $ | 34,004 | $ | 35,696 | ||||||||||||||||||
Weighted average common shares outstanding - basic (2) | 16,354 | 16,286 | 16,338 | 16,266 | ||||||||||||||||||||||
Weighted average common shares outstanding - diluted (2) | 16,354 | 31,316 | 31,348 | 31,282 | ||||||||||||||||||||||
Net income attributable to The RMR Group Inc. per common share - basic (2) | $ | 0.73 | $ | 0.83 | $ | 2.06 | $ | 2.18 | ||||||||||||||||||
Net income attributable to The RMR Group Inc. per common share - diluted (2) | $ | 0.73 | $ | 0.82 | $ | 2.04 | $ | 2.15 |
Lesser of Historical Cost of Assets | ||||||||||||||||||||
Under Management or | ||||||||||||||||||||
Total Market Capitalization (a) | ||||||||||||||||||||
As of September 30, | ||||||||||||||||||||
REIT | Primary Strategy | 2022 | 2021 | |||||||||||||||||
DHC | Medical office and life science properties, senior living communities and wellness centers | $ | 3,328,069 | $ | 5,150,401 | |||||||||||||||
ILPT | Industrial and logistics properties | 4,656,472 | 2,100,020 | |||||||||||||||||
OPI | Office properties primarily leased to single tenants, including the government | 3,102,253 | 3,837,235 | |||||||||||||||||
SVC | Hotels and net lease service and necessity-based retail properties | 6,651,976 | 9,050,693 | |||||||||||||||||
$ | 17,738,770 | $ | 20,138,349 | |||||||||||||||||
Three Months Ended September 30, | Fiscal Year Ended September 30, | |||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||
Numerators: | ||||||||||||||||||||||||||
Net income attributable to The RMR Group Inc. | $ | 12,000 | $ | 13,626 | $ | 34,004 | $ | 35,696 | ||||||||||||||||||
Less: income attributable to unvested participating securities | (118) | (113) | (329) | (309) | ||||||||||||||||||||||
Net income attributable to The RMR Group Inc. used in calculating basic EPS | 11,882 | 13,513 | 33,675 | 35,387 | ||||||||||||||||||||||
Effect of dilutive securities: | ||||||||||||||||||||||||||
Add back: income attributable to unvested participating securities | — | 113 | 329 | 309 | ||||||||||||||||||||||
Add back: net income attributable to noncontrolling interest | — | 17,125 | 43,464 | 45,317 | ||||||||||||||||||||||
Add back: income tax expense | — | 5,043 | 13,233 | 13,152 | ||||||||||||||||||||||
Less: income tax expense assuming redemption of noncontrolling interest’s Class A Units for Class A Common Shares (a) | — | (10,134) | (26,732) | (27,061) | ||||||||||||||||||||||
Net income used in calculating diluted EPS | $ | 11,882 | $ | 25,660 | $ | 63,969 | $ | 67,104 | ||||||||||||||||||
Denominators: | ||||||||||||||||||||||||||
Common shares outstanding | 16,606 | 16,485 | 16,606 | 16,485 | ||||||||||||||||||||||
Less: unvested participating securities | (252) | (199) | (268) | (219) | ||||||||||||||||||||||
Weighted average common shares outstanding - basic | 16,354 | 16,286 | 16,338 | 16,266 | ||||||||||||||||||||||
Effect of dilutive securities: | ||||||||||||||||||||||||||
Add: assumed redemption of noncontrolling interest’s Class A Units for Class A Common Shares | — | 15,000 | 15,000 | 15,000 | ||||||||||||||||||||||
Add: incremental unvested shares | — | 30 | 10 | 16 | ||||||||||||||||||||||
Weighted average common shares outstanding - diluted | 16,354 | 31,316 | 31,348 | 31,282 | ||||||||||||||||||||||
Net income attributable to The RMR Group Inc. per common share - basic | $ | 0.73 | $ | 0.83 | $ | 2.06 | $ | 2.18 | ||||||||||||||||||
Net income attributable to The RMR Group Inc. per common share - diluted | $ | 0.73 | $ | 0.82 | $ | 2.04 | $ | 2.15 |
Net Income Attributable to The RMR Group Inc. | Less: Income Attributable to Unvested Participating Securities | Net Income Used in Calculating Diluted EPS | Weighted Average Common Shares Outstanding - Diluted | Net Income Attributable to The RMR Group Inc. per Common Share - Diluted | ||||||||||||||||||||||||||||
Net income attributable to The RMR Group Inc. | $ | 12,000 | $ | (118) | $ | 11,882 | 16,354 | $ | 0.73 | |||||||||||||||||||||||
Unrealized gain on equity method investments accounted for under the fair value option (1) | (3,712) | 37 | (3,675) | 16,354 | (0.23) | |||||||||||||||||||||||||||
Certain compensation adjustments, net of reimbursements (2) | 847 | (8) | 839 | 16,354 | 0.05 | |||||||||||||||||||||||||||
Separation costs (3) | 263 | (3) | 260 | 16,354 | 0.02 | |||||||||||||||||||||||||||
Transaction and acquisition related costs (4) | 49 | — | 49 | 16,354 | — | |||||||||||||||||||||||||||
Adjusted net income attributable to The RMR Group Inc. | $ | 9,447 | $ | (92) | $ | 9,355 | 16,354 | $ | 0.57 |
Net Income Attributable to The RMR Group Inc. | Add: Net Income Attributable to Noncontrolling Interest | Add: Income Tax Expense | Income Before Income Tax Expense | Less: Estimated Income Tax Expense (1) | Net Income Used in Calculating Diluted EPS | Weighted Average Common Shares Outstanding - Diluted | Net Income Attributable to The RMR Group Inc. per Common Share - Diluted | |||||||||||||||||||||||||||||||||||||||||||
Net income attributable to The RMR Group Inc. | $ | 13,626 | $ | 17,125 | $ | 5,043 | $ | 35,794 | $ | (10,134) | $ | 25,660 | 31,316 | $ | 0.82 | |||||||||||||||||||||||||||||||||||
Unrealized gain on equity method investment accounted for under the fair value option | (4,889) | (6,088) | (1,802) | (12,779) | 3,618 | (9,161) | 31,316 | (0.29) | ||||||||||||||||||||||||||||||||||||||||||
Gain on Tremont Mortgage Trust investment | (788) | (981) | (290) | (2,059) | 583 | (1,476) | 31,316 | (0.05) | ||||||||||||||||||||||||||||||||||||||||||
Separation costs | 140 | 174 | 52 | 366 | (104) | 262 | 31,316 | 0.01 | ||||||||||||||||||||||||||||||||||||||||||
Transaction and acquisition related costs | 195 | 243 | 72 | 510 | (144) | 366 | 31,316 | 0.01 | ||||||||||||||||||||||||||||||||||||||||||
Adjusted net income attributable to The RMR Group Inc. | $ | 8,284 | $ | 10,473 | $ | 3,075 | $ | 21,832 | $ | (6,181) | $ | 15,651 | 31,316 | $ | 0.50 |
Three Months Ended September 30, | Fiscal Year Ended September 30, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
Reconciliation of EBITDA and Adjusted EBITDA from net income: | |||||||||||||||||||||||
Net income | $ | 27,322 | $ | 30,751 | $ | 77,468 | $ | 81,013 | |||||||||||||||
Income tax expense | 4,785 | 5,043 | 13,233 | 13,152 | |||||||||||||||||||
Depreciation and amortization | 262 | 239 | 993 | 973 | |||||||||||||||||||
EBITDA | 32,369 | 36,033 | 91,694 | 95,138 | |||||||||||||||||||
Other asset amortization | 2,354 | 2,354 | 9,416 | 9,416 | |||||||||||||||||||
Operating expenses paid in the form of The RMR Group Inc.'s common shares | 1,241 | 1,212 | 3,611 | 3,639 | |||||||||||||||||||
Separation costs | 698 | 366 | 1,315 | 4,525 | |||||||||||||||||||
Transaction and acquisition related costs | 132 | 510 | 132 | 984 | |||||||||||||||||||
Straight line office rent | (105) | (57) | (352) | 3 | |||||||||||||||||||
Unrealized gain on equity method investments accounted for under the fair value option | (9,863) | (12,779) | (1,010) | (18,811) | |||||||||||||||||||
Gain on Tremont Mortgage Trust investment | — | (2,059) | — | (2,059) | |||||||||||||||||||
Equity in (earnings) losses of investees | — | 312 | — | (443) | |||||||||||||||||||
Certain compensation adjustments, net of reimbursements | 2,252 | — | — | — | |||||||||||||||||||
Distributions from equity method investments | 426 | 432 | 841 | 1,456 | |||||||||||||||||||
Incentive business management fees earned | — | — | — | (620) | |||||||||||||||||||
Adjusted EBITDA | $ | 29,504 | $ | 26,324 | $ | 105,647 | $ | 93,228 |
Calculation of Net Income Margin: | |||||||||||||||||||||||
Total management and advisory services revenues | $ | 51,721 | $ | 46,844 | $ | 199,980 | $ | 175,678 | |||||||||||||||
Net income | $ | 27,322 | $ | 30,751 | $ | 77,468 | $ | 81,013 | |||||||||||||||
Net Income Margin | 52.8 | % | 65.6 | % | 38.7 | % | 46.1 | % |
Calculation of Adjusted EBITDA Margin: | |||||||||||||||||||||||
Contractual management and advisory fees (excluding incentive business management fees, if any) (1) | $ | 54,075 | $ | 49,198 | $ | 209,396 | $ | 184,474 | |||||||||||||||
Adjusted EBITDA | $ | 29,504 | $ | 26,324 | $ | 105,647 | $ | 93,228 | |||||||||||||||
Adjusted EBITDA Margin | 54.6 | % | 53.5 | % | 50.5 | % | 50.5 | % |
Calculation of Distributable Earnings: | |||||||||||||||||||||||
Adjusted EBITDA | $ | 29,504 | $ | 26,324 | $ | 105,647 | $ | 93,228 | |||||||||||||||
Less: Tax distributions to members (2) | (8,312) | (8,268) | (30,281) | (31,469) | |||||||||||||||||||
Distributable Earnings | $ | 21,192 | $ | 18,056 | $ | 75,366 | $ | 61,759 | |||||||||||||||
Common share distributions (3) | $ | 11,400 | $ | 10,735 | $ | 44,330 | $ | 42,932 | |||||||||||||||
Three Months Ended September 30, | Fiscal Year Ended September 30, | |||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||
RMR LLC tax distributions to The RMR Group Inc. | $ | 4,381 | $ | 4,437 | $ | 15,940 | $ | 16,764 | ||||||||||||||||||
RMR LLC tax distributions to non-controlling interest | 3,931 | 3,831 | 14,341 | 14,705 | ||||||||||||||||||||||
Total RMR LLC tax distributions to members | $ | 8,312 | $ | 8,268 | $ | 30,281 | $ | 31,469 |
September 30, | ||||||||||||||
2022 | 2021 | |||||||||||||
Assets | ||||||||||||||
Current assets: | ||||||||||||||
Cash and cash equivalents | $ | 189,088 | $ | 159,835 | ||||||||||
Due from related parties | 108,821 | 88,661 | ||||||||||||
Prepaid and other current assets | 5,372 | 6,021 | ||||||||||||
Total current assets | 303,281 | 254,517 | ||||||||||||
Property and equipment, net | 2,495 | 2,218 | ||||||||||||
Due from related parties, net of current portion | 14,557 | 14,331 | ||||||||||||
Equity method investments accounted for under the fair value option | 49,114 | 39,476 | ||||||||||||
Goodwill and intangible assets, net of amortization | 2,057 | 2,094 | ||||||||||||
Operating lease right of use assets | 28,894 | 32,293 | ||||||||||||
Deferred tax asset | 17,112 | 18,671 | ||||||||||||
Other assets, net of amortization | 124,895 | 134,311 | ||||||||||||
Total assets | $ | 542,405 | $ | 497,911 | ||||||||||
Liabilities and Equity | ||||||||||||||
Current liabilities: | ||||||||||||||
Reimbursable accounts payable and accrued expenses | $ | 80,221 | $ | 55,115 | ||||||||||
Accounts payable and accrued expenses | 16,745 | 15,027 | ||||||||||||
Operating lease liabilities | 4,693 | 4,922 | ||||||||||||
Employer compensation liability | 7,516 | 6,076 | ||||||||||||
Total current liabilities | 109,175 | 81,140 | ||||||||||||
Operating lease liabilities, net of current portion | 25,626 | 29,148 | ||||||||||||
Amounts due pursuant to tax receivable agreement, net of current portion | 23,308 | 25,577 | ||||||||||||
Employer compensation liability, net of current portion | 14,557 | 14,331 | ||||||||||||
Total liabilities | 172,666 | 150,196 | ||||||||||||
Commitments and contingencies | ||||||||||||||
Equity: | ||||||||||||||
Class A common stock, $0.001 par value; 31,600,000 shares authorized; 15,606,115 and 15,485,236 shares issued and outstanding, respectively | 16 | 15 | ||||||||||||
Class B-1 common stock, $0.001 par value; 1,000,000 shares authorized, issued and outstanding | 1 | 1 | ||||||||||||
Class B-2 common stock, $0.001 par value; 15,000,000 shares authorized, issued and outstanding | 15 | 15 | ||||||||||||
Additional paid in capital | 113,136 | 109,910 | ||||||||||||
Retained earnings | 355,949 | 321,945 | ||||||||||||
Cumulative common distributions | (262,496) | (236,766) | ||||||||||||
Total shareholders’ equity | 206,621 | 195,120 | ||||||||||||
Noncontrolling interest | 163,118 | 152,595 | ||||||||||||
Total equity | 369,739 | 347,715 | ||||||||||||
Total liabilities and equity | $ | 542,405 | $ | 497,911 |
Contact: | |||||
Michael Kodesch, Director, Investor Relations | |||||
(617) 796-8230 |
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end
Cover Page |
Nov. 14, 2022 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Entity File Number | 001-37616 |
Document Period End Date | Nov. 14, 2022 |
Entity Registrant Name | RMR Group Inc. |
Entity Incorporation, State or Country Code | MD |
Entity Tax Identification Number | 47-4122583 |
Entity Address, Address Line One | Two Newton Place |
Entity Address, Address Line Two | 255 Washington Street |
Entity Address, Address Line Three | Suite 300 |
Entity Address, City or Town | Newton |
Entity Address, State or Province | MA |
Entity Address, Postal Zip Code | 02458-1634 |
City Area Code | 617 |
Local Phone Number | 796-8230 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Class A common stock, $0.001 par value per share |
Trading Symbol | RMR |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
Entity Central Index Key | 0001644378 |
Amendment Flag | false |
TPQK%DW=/
MXPZ7S]EYD,;(CITU(1K81R6C@,OX=M>@[A\IS4)$[SL>H<'13_;LPX ]>:]C
MP2? A(^(H$L23G3W[ K5F<9JQK9:<:9Q7.'W&5R]!-6$X#VDN&9BY/FXR^8Q
MW>U#1?M
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MV]VZ-$H-^27IW45%K^VA5TA?EL*+I_)UC=[,^?GFS>O1F:Z[C:K:W
MX2TPB2ZKG")V3 U^:KJY85
D?7#:SV+2JY DUUKXEE:*ZN:[ * MD@]HAM?>RF*09O"V4(PP'!CA8MHY5P+PI^T[FFFYXP>B/,?<:-[5JBSR GX! M<&@$OANQH(CN6?R4K@1P4_[Q\VG3*FPA(UK:?_'BA.3;/RZ-6A+.0.&V7,!I M*V37%M+J# \(5#M/A96CGMBLE%6^)(+*K">HG(-**J7 E5VET'+Z%TEN8*%X M;DQCPKL/1PD)Z"@J:'SLPZ'6T*=A:8:E;I%(B1N]JW6-IJG;\AD[$@N0SZR@ M\&%(&,T26/+1+Y*TA38MQ]&Z=E?9'#+BQC0 -_(:'O)='=CC)8/6V51ORV$9 M4PQMCST[@$.11;T2+:VC9]VTA0DO3!?[[[JOE%$E&5XL5_/>ON/5>9/)>;G*;N:NZF!=BDR=536)WS\KJ.!K]) MBM73MW<^I@DF?V5I'.,5RR@I6,;RS;KRG*$^-5Q+,X[9S%[A9DWPV=2<8S8] M.7%[1]DVNXM9N%W-LS:,)RG;1E:LVI[F;7H$UA;;1E;I%,_5^]]"6CVC.VO> M*!'07]:(X;P:KNP>*A*R_F:-A'8.FB-;E8HS%&?LIE>1-)S!M>;K FN$C'.S MII+4JIV:W8Z)J;2C-.<)&E<9$V<*UP]16 PJ/37]8+4C_>D1VH/%E\7J1Z;6 M'3!TVQMBD7RD698^K$"F8=3SL MD.7"BN>!)4#RYN<>8FUQH=,ST>P.)JL0,1^LV0C"JT"KUP"M>'G(@C3CU2.N M@!E8AJ->O/GWS>>/[S_^1M[^\?'MK?CUUS\^PZ?O+G__XX__BW]_^7KS]?;# M[<>O7V:W76/#548E@O. ^P6S;1#E9)2Q/"? +KS4%T:F:)3DI)]F#S0++^,T M_89AJKR@!1/7%Q^B8A EI!@P,F04LQBPL@;^^2F+[F$8^<*",A.&X._PXTY4 MX_C,8-(AN0EX)0ZCVQ678%+> B2F#WF'_+IZ 0%-2(\!I<-?43]B(>D] MDA)6#],^@#C*25X& T)S@H<"IGZ=E@5.H_$_C>OQQST61^R>S7^,C0F"8O[3 M45K@ZV@\_\5#%"]\-J2/"[/F132$+ 0A*$& Y23.2 ML+OQ'WVQ.;%/^"J/@!YH)CY8"S:.LP6,TXR1'OP2DG($2,(OL4 *ATV?OT' M@^,07O#/] %@EFGK* 1W %B-,A(-1S%(=OXL?U62%N2NI!ELFV%3\I2D 6"> M/P)0X]^+3V!^ LP;(S:=&./9\6C8G2!^5B3C;N M9 L'$Y>SZ>%VQ\%]?\@ZY%.:%4GZ* @B!T*@8#2P?!2!9$B3NQ2Q-Z1!EH*H M3=)A%) !H^$# #"OR"#[Q@IRGZ(&%]5[AC0!W83$)5J(A/=1GF;P"I;=1P%# M KEG2 3H#-& A8%!<'#XUV>* WC,BK!:\#H@\1H."K27_=/)RX.\R!AX= M "9CQ*80GS?A_Y8Y_G[[C_=?W]V@G'D)1I4S!IQ&/@).8$YDNP^<*W",8W;\ M'SE@YB>8&F-WW!\[N#K8S9240'9'^? H=KNX>H*B=8(FE!68-3=!0=B +,2N MQ7D+OC1+[^'Y?I30)$#+; R52J_URZ+,V)2P6P-:3A6HE4!@PK;&Y]"],@>. MR9%24.[E9>]_@>YP$Q.A%N7?9D0:_X#?2 #5QN=\$J1C^45^+3-4F!J9< _\ M%%G)*.7*&)4'$'^$9@R;GA[T(:TVBFBIP#A]!D7P$;ZD?LQEM@;K'B&&@@%% M[AC0.&;)'8X!8+,,R9.EHQ2C/@&-IY>"2P I'"EJ)5XH 5YF@E/6X7""M[%O#V .4P1:W.HG+%7 M"1<4E"]].:8 /F-<36%Z"8I0RQ4(P\ZR52(00>&AE0HSQ[!=OD;49014B] 0 M,WR93QFN8VR/K3*!<,Y*R7.87FY)EP#2#.-6D[/'L6TM$ X,B50';RI@+4]& M)X:MHB'?Q%C-(X@J"IB8W^MP^!S)C?$1IK"R:<(;D]"3%[I(2.]!:%8W#I=* M?-P;BRM@H*Z?()R_B0-X[>H0S3W8)4IGV B/+"WGEDY-->\=/ZC)T'])LZ'8 M:Q719/RRYCKC*<)T/!'=Y/SPY?;MM)CGT6#!*'3$9ZX">)^!U,BOX*VD(@D9 M0WCK7R6H#SRWC*'JR+E1"6]*LU$J%#@GNBC1GF*<.0I_&,P-6_$R05O"Y0LH MQC_#J-^'!Y-@');@LJ%A1' 9QZ^%$N=*>D]!5*&)"9")N+G8RZ-*V,,R'QX> M.CD+.G?I?6M(Z3]I":*?PQ>9:Q13X%>@@Q(=VCCB[ N[70W@NCN=-X0/OM-; MT"JC KV##+,V,A$3BNG#4K'#60%E:HX"\ *QK=ES+QQ.R*OVG>G%U>-;AAV=S1[+B M.[O;\4Q[Y==ZQUCYW=II_8[NN;6F75Y_T5I3?K%!8;I-ZL]M,'W-5(4B'1V* M[<35-]1-0;%8D?!L(/ A"@:4Q>3_IB'+@X%&WH'P0>VF@:BY9SG\1CXS$8S, MSQ-$%Z[AO2)>U[WT34M?A,'*U(AC'J9C:*5K7-]^? <_K=7G:].9!&>0NV&M MSMUXW4O#1_@Q*(;QF_\?4$L! A0#% @ ;85N510]&W[X$P 5XX ! M ( ! ')M " 1XI M !R;7)?.3,P,C R,G@X+6MX97AH:6)I=#DY,2YH=&U02P4& 4 !0!, ) 0 +H8 end