0000063754-15-000036.txt : 20150625 0000063754-15-000036.hdr.sgml : 20150625 20150625091722 ACCESSION NUMBER: 0000063754-15-000036 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20150624 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20150625 DATE AS OF CHANGE: 20150625 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MCCORMICK & CO INC CENTRAL INDEX KEY: 0000063754 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS FOOD PREPARATIONS & KINDRED PRODUCTS [2090] IRS NUMBER: 520408290 STATE OF INCORPORATION: MD FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14920 FILM NUMBER: 15950732 BUSINESS ADDRESS: STREET 1: 18 LOVETON CIRCLE STREET 2: P O BOX 6000 CITY: SPARKS STATE: MD ZIP: 21152 BUSINESS PHONE: 4107717301 MAIL ADDRESS: STREET 1: 18 LOVETON CIRCLE STREET 2: P O BOX 6000 CITY: SPARKS STATE: MD ZIP: 21152 FORMER COMPANY: FORMER CONFORMED NAME: MCCORMICK & CO DATE OF NAME CHANGE: 19660620 8-K 1 a8-kxjune252015stubbs.htm 8-K 8-K-June252015Stubbs

SECURITIES & 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):

June 24, 2015

McCormick & Company, Incorporated
(Exact name of registrant as specified in its charter)


Maryland
001-14920
52-0408290
(State or other jurisdiction
(Commission
(IRS Employer
of incorporation)
File Number)
Identification No.)
 
 
 
18 Loveton Circle
 
 
Sparks, Maryland
 
21152
(Address of principal executive offices)
(Zip Code)

Registrant's telephone number, including area code: (410) 771-7301

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 (see General Instruction A.2. below):

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

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

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




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




Item 7.01 Regulation FD Disclosure.
 
The following information is being furnished under Item 7.01 of Form 8-K: Press Release, dated June 24, 2015 announcing the Registrant’s purchase of One World Foods, Inc. Furnished with this Form 8-K as Exhibit 99.1 is a copy of the press release labeled “McCormick Enters Agreement to Acquire Stubb’s, the U.S. Leader in Premium Barbeque Sauces”

The information in this Item 7.01, including Exhibit 99.1 attached hereto, (i) is furnished pursuant to Item 7.01 and shall not be deemed “filed” for any purpose; and (ii) shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, regardless of any general incorporation language in such filing.

Item 9.01 Financial Statements and Exhibits.
 
(d) Exhibits.
 
The exhibit to this report is listed in Item 7.01 above and in the Exhibit Index that follows the signature line.

 

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.

 
 
 
 
 
     McCORMICK & COMPANY, INCORPORATED
 
 
 
Date: June 25, 2015
By:
 
/s/    Jeffery D. Schwartz        
 
 
 
Jeffery D. Schwartz
 
 
 
Vice President, General Counsel & Secretary




    

Exhibit Index
 
Exhibit Number
 
Exhibit Description
 
 
 
99.1
 
Copy of the press release labeled “McCormick Enters Agreement to Acquire Stubb’s, the U.S. Leader in Premium Barbeque Sauces”


EX-99.1 2 a8-kxjune242015pressreleas.htm EXHIBIT 99.1 8-K-June242015PressRelease-Stubbs

FOR IMMEDIATE RELEASE
McCormick Enters Agreement to Acquire Stubb’s, the U.S. Leader in Premium Barbeque Sauces
SPARKS, Md., June 24, 2015 - McCormick & Company, Incorporated (NYSE:MKC), a global leader in flavor, today announced that it has signed an agreement to acquire 100% of the shares of One World Foods, Inc., seller of Stubb’s barbeque sauces (“Stubb’s”), a privately held company located in Austin, Texas.
Stubb’s is the leading premium barbeque sauce brand in the U.S. In addition to sauces, Stubb’s products include marinades, rubs and skillet sauces. Annual sales of the business are projected to be $30 million in 2015 and are expected to grow at a double-digit rate annually for the next several years.
Stubb’s products complement McCormick’s range of grilling items with the addition of authentic, craft barbeque sauces. McCormick plans to drive sales of the Stubb’s brand through expanded distribution, increased household penetration and innovative flavors.
McCormick has agreed to acquire the business for approximately $100 million in cash.
Acquisitions are an important avenue of growth for McCormick. Stubb’s is McCormick’s third acquisition agreement announced in 2015.
Alan Wilson, Chairman & CEO of McCormick stated, “We are pleased to announce this agreement to acquire Stubb’s. Based in Texas, Stubb’s is an authentic, craft brand with an enthusiastic and loyal consumer base. Through marketing and innovation, we intend to build this base, increase household penetration and expand retail distribution in the U.S. and internationally. The Stubb’s products round out the range of grilling products currently marketed by McCormick under the Grill Mates, Lawry’s and McCormick brands. We look forward to working with the Stubb’s employees to drive increased sales and profit for this business.”
After opening his first Stubb’s Legendary Bar-B-Q restaurant in 1968, C.B. Stubblefield began selling his popular sauces to retail grocers in 1992. These products feature bold flavors made of high quality ingredients from a man that knew BBQ. McCormick intends to maintain the headquarters of this business in Texas. With newly expanded distribution and product offerings, annual sales growth exceeded 20% in both 2013 and 2014. Annual sales of the business are projected to reach $30 million in 2015.
The acquisition should be completed by the end of July 2015, subject to regulatory approval. The purchase price for Stubb’s is approximately $100 million subject to certain closing adjustments. Due to the estimated impact of transaction, integration and financing costs, McCormick expects no earnings per share impact in 2015 from this acquisition. However, with plans to achieve strong growth and significant cost synergies McCormick expects incremental EBITDA (earnings before interest, tax, depreciation and amortization) of at least $10 million by 2017.



Forward-looking Information    
Certain information contained in this release, including statements concerning expected performance such as those relating to net sales, earnings, cost savings, acquisitions and brand marketing support, are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. These statements may be identified by the use of words such as “may,” “will,” “expect,” “should,” “anticipate,” "intend," “believe” and “plan.” These statements may relate to: the expected results of operations of businesses acquired by the company, the expected impact of raw material costs and pricing actions on the company's results of operations and gross margins, the expected productivity and working capital improvements, expectations regarding growth potential in various geographies and markets, expected trends in net sales and earnings performance and other financial measures, the expectations of pension and postretirement plan contributions and anticipated charges associated with such plans, the holding period and market risks associated with financial instruments, the impact of foreign exchange fluctuations, the adequacy of internally generated funds and existing sources of liquidity, such as the availability of bank financing, the ability to issue additional debt or equity securities and expectations regarding purchasing shares of McCormick's common stock under the existing authorizations.
These and other forward-looking statements are based on management's current views and assumptions and involve risks and uncertainties that could significantly affect expected results. Results may be materially affected by factors such as: damage to the company's reputation or brand name; loss of brand relevance; increased private label use; product quality, labeling, or safety concerns; negative publicity about our products; business interruptions due to natural disasters or unexpected events; actions by, and the financial condition of, competitors and customers; the company's ability to achieve expected and/or needed cost savings or margin improvements; negative employee relations; the successful acquisition and integration of new businesses; issues affecting the company's supply chain and raw materials, including fluctuations in the cost and availability of raw and packaging materials; government regulation, and changes in legal and regulatory requirements and enforcement practices; global economic and financial conditions generally, including the availability of financing, and interest and inflation rates; the investment return on retirement plan assets, and the costs associated with pension obligations; foreign currency fluctuations; the stability of credit and capital markets; risks associated with the company's information technology systems, the threat of data breaches and cyber attacks; volatility in the effective tax rate; impact of climate change on raw materials; infringement of intellectual property rights, and those of customers; litigation, legal and administrative proceedings; and other risks described in the company's filings with the Securities and Exchange Commission.
Actual results could differ materially from those projected in the forward-looking statements. The company undertakes no obligation to update or revise publicly, any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
About McCormick
McCormick & Company, Incorporated is a global leader in flavor. With $4.2 billion in annual sales, the company manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the entire food industry – retail outlets, food manufacturers and foodservice businesses. Every day, no matter where or what you eat, you can enjoy food flavored by McCormick. McCormick Brings Passion to Flavor™.



For more information, visit www. mccormickcorporation.com
###
For information contact:
Investor Relations:
Joyce Brooks (410) 771-7244 or joyce_brooks@mccormick.com
Corporate Communications:
Lori Robinson (410) 527-6004 or lori_robinson@mccormick.com

GRAPHIC 3 a8kjune242015pressrel_image1.gif begin 644 a8kjune242015pressrel_image1.gif M1TE&.#EAQ`;[`/4```````DT>AA!@BA-BS=:DT=GFU9SI&6`K'6-M,\A)](O M->49-]4]0NQ3:>UA=N%T>.]O@O!^CX2:O9.F MQ:.SS;+`U>2"AN>0D_*,F^J>H?2:J.VLKO6IM/"ZO/>WP<+,WM'9YO/(R?G& MS?;5U_K4VN#F[OGCY/KCY?SBYO#R]_SQ\OWQ\____P`````````````````` M`````````````````````````````````"'Y!`$`````+`````#$!OL`10C_ M``,('$BPH,&#"!,J7,BPH<.'$"-*G$BQXD0`&#-JW,BQH\>/($.*'$FRI,F3 M*%.J7,FRIO8,.*'5L50T&F:-.J7//JW/'D"-+GDRY\E&+F`5:WLRYLV>D M?Q$+WH!`]%43!#*8KGJ@P(O5L`$K'B@TL^W%:&]+_,R[M^_?('4+UPU\\L&; MQXLK7\[\=^C85S<(F&C@==@7!"AJ$*N!(H$5T,.7_ST;-+G/A$W-PU3?O+W[ M]TS9.[X(/[Y!Y/?KZ]_/O^WSU=(-I]!W+Q0@H$(:F##=@0<-8()XILVF67GY M#85041?*)%]_'';HH4D;^L;0ASF%^)*))*:HXHH@$O04A%"5D!V#`UV%W8$O M5M7=@1C`>)B$`=16H5'H_91A3"BRJ.22RB6Y7)%,IN3D2E-&:>65]?WGHU0# M"*A5"!60F?6X)6%`"DF>?4/B=.1Z;6(IYYR258D2C0H9::>5>Y[4)YV` M!DJ9EF?*`.9P7X:I%9F8F5EH8&E2N*9:4-+TYHEQ"JKIIG']2=*E,U5:$ZB! M>OIIIIRFJBICA)YYJ'")"O\GIE6,6N3HHV1%"I2I'I'*DJ]4\MHKJI+B.2*< MQBY48K)!XLRRE MZF9K4ZM;OJI;K+K-.IYPMV(%P@+\+D!!#+A&I:N>[G*;IX;>1EMN1@M_]-!E M#964L$H3WUENQ7Z*&ZRX#N4F:GH%8ZJQMB&[A+'$'1,9,<(EFSRRR^L2E3+) MT_JW\K@Q@W9PN#?+W+.4+@8)D!RVTT;;1>QO24RE]D``;3!7# M!%*'+OKHHZ.`F-4]>6V>X&QS;3;CK0,.M.)W1Z03J:PW[KKNNU-<;>[#Y@?Y MW([GW;N%L*.,[A-^L[ M[?1M#S[T`6#N(^6967[TH@818%U4*CA`>K\>3(5"`_LCG0-4(![4\41UF0*> M\=;'/O%E;T*GBE[7L!<\!7+D4A:\X/4DF+7G802!PN/@!/]DD;?835H[*=X" M'0@SP84-24ZRGN$HZ#Q/J?!\#%RA]UJBM:WE4"-PNV'D_R@R.P_J\(<5!*&[ MX/4^HF$%?A9Q7U5$`,``CJY_0AN+`5,H0@UR[(0A4B(+O6C$)(X1AET$(GO0 M!CO:C1"):DSC!]431#<>3HYY(5\'X2@]/A;1C^5[(P0M-;(,-G"0A"SC$)\' M2"[B,8Y8J^,C$ZE(,E;RB'^3'1-A!$6+R"\S4H2*!ZQ(2BQF,2Q;O-TD*V9( M2XJOE;7+(2QAB4DT^FV64R(AZQ+62E#1>4AG"B24XNED13Z)&72. MDI0!-.4IOY+*\9UQ8XR\9LU\*/_.:T9F0[@DE@V%&$UH3E.:X42HS_:Y-V[: MA88&[8\O'6K.,PZS+VG3WGQ>YL\_>E,D'7W,<38)(752A)U1U,H[X;F_>:*2 MG'L4)S[!6=%[SA2BX0NGAX!UMC@-M(<1;-NV7(C3A8;4EC9-'(U463V*_E,^ M,BS843<:LA=Z1I=3-2:*+HI1AJ`S/":="$HKXDZ6DG("JW&!/`M33_7)5)E) M[1M,:TK3C831J9")X<4JM,$UY2Y#0^5F,)=2U-11U)"%K6%A:3I=.)5PAH1=,:``F9-[=,:8`$2`(PJ,2`! M:OO5`!+_%/"Q?7RK1W5[4][*%;,Y[:9O?]NN;N5VN,C4+&2ERJO!QA2YEV4H M4W&K5.@25Z%:M:YBL8M-[8*TN.T2[C?[*5CPFK>N1^3N=M5;7?924KK372UC(V=]=@SK7K44$5S7H! ML73`P!&(RH(7()48Z&\!+H#*"`S\`*Y<6)OH7>Z1$PKC`Q8R_ZK*G3&0$\I# MK/9NE\T-;)SK3%T;B_?%;=[MC$V,8;P>U[MP7BP86?R]#SO5@D,N\7<9C68< M2QK%A5[S=3<,6I=Z&E=4M,!K17,"!ACXU*@^-0=>FF9!9W+.O0UTI:&;535G ML[NP=F6N=ROK6+;:U=D5;K)FO>MI$KO7.2ZTB8M=/N,>,M")1FZD8^WLJYC7UO;X<6U>SO]Z7*;V]QG?O&.D;UN=O,9G'O.XZ,-K6MWT_5J MY/2S/7_]:F^[6=.LG'9#CQ=M=@O\<1JKM5Q,I'""M?'@*][F.<]-\8I;/-WO M97;#BG(ZXUODXF8YR#V\NX)_'.8@ MXV.\_PWQD3=SY<;.%[A9?T??H2$_Z>6^,0G;1]^7HVG<)I5[MC%>]Q5$/ M^D>+#EZFWQKK\+5ZMB<=;IZG#]MGUW#/LUYVGX>]W5MW>-JUGO55V?WN31(. MWODCH+W['<5C__NR`S_PN3MG..U!O.`7S_C&._[QD(^\Y"=/^0[AQH^`:[7K M)@5(\.F9!;U'@WK+T1*^\ZE?/^M:[_O6PCST^U3Q!VD.O]K=/'`[= M3NE80A+WN?^][3G<2%X#'KFDRZP='S8P07]G]. M^EQOO^/-#[__^,=/_O*;__P.7R#OZKUMH(I[>)CG_EL=+?]Q.U?X9"\^^O?/ M__[[__\`V'I*-X`$6(`,$H`(F(`*N(`,V("J0FX6%X$2&!X8YX`6>($8F($: MN(%[`8$3^($@R%8SQX$D6((F*$Q==X(J2%43=TH!@A`'<#^$L0(S@A"J81B: M8S\A*!85>',I2$Q?MX)"B&0&&(2P9W-#F(3I(CD0\H+U(H-4<2/#L1W1L2"Z M00`/LH.T,H)_UFC@%V/]IH1BZ'4BXGZ"AX1CF(8FQ(2&X81%^(8,D2\@V(-8 M!S'T]FTIIX9Z*'59TG-+@H9[&(B$Q89G8@`,0C^RHA4U>!MR^(%T_VAR;,*% MF!:&@EB)=4AUA.>%^O2ABAD9+ M^O:)&KAH^6:&8+]S=TSX)VB@=H^VB/^;AI]SB(T\A5_D2-4Z=V MMHB,ZB9W=7=H`1E?F>&#"^EUWBAS#]F,%PF1%2E7H2@:YL@0Z/@0ZH@O5[%2 MI$,U9^*.[461X`<\R]AGO>>*N718]+B),?^)6[@CCIKH=#CG:_"X7L1F;289C7&>=;87O5H=?Z6:7NI=G6R-KF( MCWD)A'G&C"KS.T!WB^^XE$3(-5@IBJ)E%5J9$%Z)$`XR%?\E.A[P.6-).B`` M&RS96]D8X:4HYD6)7;ZL9:Q+)8S9;6=IJL69PZ18G+=G/K-IIHV9[;Y9#:18_-"9]]R19S M.9`T)T%LR6_<""V!*6SL"8W1*9A/B8_HJ6+FJ91@J)OV"8G8-)V'49T(<9U> MI5*=&37>Z8CDB92*64NM^9X+>IY$^9HXN4;TR7'&*92FR6$^QX]YUZ$A-Y,L M6J*O6:"ZIHT*NIC86)X0BB$'&)SIN9Q666Q3%5#D\9@@&9E50:$&4589^C0; MNHHR&IN'YF](>D]9>G0X6I\VNJ-#)W,@RI`D"G41N8TR:H=K9TT#Z)XBJI=# MJIO%Y:;45I50J5LKEXEXZ9)&&&Q*2IU,2A5."EHH&:53:HQ5NDJ%J9-G_QJ? M72A1=S57D5I]=EJF/KJG`&F;-$J37]AWX)9/AMF!4#5OS!6JHNJ8F\HJ,Y28 M`!E_:8JF"B&AAC&H!6&A"P&E44I;6B@#H\59W',? M?T59:=0]J7J8Q$I<]RF8R0FIX]J;<*BG;B>GN"E4 M_-FH^?>O;.:M8DJ8/]F?SN@M=1FPS)FC23FPP4JQTU.-".NEZLFGK_ILS0)B M&FL;OB:KA;&N-5(TBN(5G.FN`=8`XED5!79J#__0`2>0LQ\0`:BF`"E`3XGZ M6!P;K>%JL5W:&WJV2W<%F'^GNZOLV[Z\^K?_&K7RFSR" M*V1+&6++&JW'2GWD&[U`6I#,B#XUR;7RV68!FEY71;FFVK$WBH<*N;E7FK"- M*XT_]*?N>\'L"[S9ZZ)%6K9!]K43S+GW&[AX1,)R1,#[.CBW690=I;SU:[;2 MEJU'^:Q+F+@HO)Y46YNGVD403,$,9,$8',1S"+_R:+DXW,#H&\(FJL0M7+G8 MV%,OG+'AJ[W"6\#*!L)&C,6^=<#$=\/@"VT]C)%A?*G@"JUC_+1*S+W4=+QL MW,9)9Y'(J:D_"+D!JZ97]YQ!>KG8VQCF1/"2Y14;^=[R$3)HCS*I%S*INR* MP0=\H%RN^+=['31\ZS=\2*1)W:=01%0T1&S`S+NG?,OAS-TCS-U+S+/TP;6DK+\^=`-HQ0G9=]IE?+R9S- MPKQ(L=/,9E3-ZKS.[-S.8^C&\!S/?>K.]%S/]GS/YP?$0KS/%U>Z^/S/`!W0 M`KU3A,C/!GW!&CS0"KW0#-W0YLJN!QW1".W/#EW1%BUOZC/$MW1`9/0 M&AW2(IU7E&=UA9(U5]AU9@A`&&M%3N" M&3JX%05B&V`IQ&-MK7ILUA)#'EY]+-;RX&-P>;.%'6-PKG>!#L[98@8H2X>#H1L0=_K7C M.-H`[N$L@N%-9Z)VM]HP;GX&#A:I&P"K2YG#R(@9K.)L+<"*^N(W[GPKK+FI MS!E$N0#?JD^V;E%GN5/CB4R3N.#EBI._N7B#=&^ M*.*&TK(EOHY8/N%,[IR/6\6ZC=]Z]\]_C-%,>% MGLAZ_T[HW[.^@C'E:ELO/][@;^[=XDM\O_FE/ZJ)7*K%S'*]M)G$EF6@BTS> MG6J085[6FX[$U*OI3S?HC>S#;VC'2O=-C!X8COY$;#XF;MX5L>52$!ZG76S8 MSINB+4[#G`ZJ&8W'GR[%H9Y>^/O)$AZYC'7JRQG`&YGI5*SLN0SM(!NU?Q[% M7^SEF=SM<,[M?53K@''KHY7K6TC?5]&V[VI;N/+K<2[&6WNX0LOAC%V5!ZF, MCW3)C;NT2RZDKCZ]!E_A=0KGXBJL',Z/*XZ7,,7`*CSPB$SI&RS(7MZJ+A;E M7J'NDLGN]T*,5)$_9E5;(9[QGFOL9]V@V![LL)HD_2ZI`/\O[(R*K=Y^\45Z M\*M^M`M_1TW;\/QJ\1B/\,6:Y$;.W4/_\LW#\5WA\4T*\DF3&5BXG3!K\M!! M[T:+\3)I9X`[8N"NZ0Y,YRQ.\"WYH%\OZ'/ZN[6 MVW+JH(P,:Q0?[<4+XDV4MKA.XKINBE`(GF\;[_>J\*`-H:3[S5T.CW//]]C5 M^',FN7)?\TEZ\V4OQQ/8^/:,$/G5[KE/Z[\FA?HS]J^;Z9 M]5M>ZB5QN5KV\M?V&#_N^P#6OT5W]9BKOS7_U&D+_W/?_SV58YJ MON"13A!_+4K[8TI.`[,SNQJ^_Z:M^-V8;KTM?\0``4#@0((%#1H,D%#A0H8' M&3Y<>%#B1(00*SZDF'&B18T2(0;H&#(C1Y$$/Y;4>!*`2I0I/[Z$&3-F2YHU M36*T25'F3IX1<[HD6?+ESXL[B\XD6I"E3IQ)CR84NC1I3Y!*>SJ]V52D2JI= MO4+%^K1J1ZE.OYZ%6;,LT:MBU_Y,[;*-OR#CV\-N'B8=/2;#Y;N>CH M6Z=/)^[;*G;IVJE7)\M].U7DIKT'QP[^^V[2,J&+MP[_]7GCH^5VQI^_+_.' MFP?S3\BP_&*@`#,#(].,,Q=(\,`#$E30+T+\/E.HO-_8:P]#\RKD337YPM/0 MH0\OI*\E]4@$+;414>0POA`M7*G$U5;E=51@:U4TW7?/)99=5;G\ MU=-\=6447G[116I3?UD=6$EZ[ZUT7^7*C;5'A@,MV%8YA^J5W&!Q#5C78__;-:/.:MMIJKPVY9;ZVM1?&<65\^$Q38[[RU8TG9DY@?"^N M%U.KCD!XZZIZA MMCE>=]'T2N:G(?8Z;;0;`MEE_49FKF0`3\8K997Q9%ENO^N"6>.UV2Z:Z+!S MAGOG5&=N^VJ?S^5ZX1&E=C3Y`R^5<=?G MO1UWQ9,>/'8+@:OYK4'=0YC>A[_EV$BFK3\:M;&;WSY\\FWW$O5(U5]_]\-Y MBM_TVS4'FV+,+Z]?\)B(5UY>@/<7X3$'@'4QWO$P,X$`*H]YI')>](AFOO&Q MCUWPZ]_FJ"Q\KFPLY) M3G\T?-SGNJ9#].E.ACBLH4P.V,"Z#!`M!23,$&600`5>1@1$]-L#0Q5!_JG+ M?MG+#0:!B+%+89%3'P1A"'_H.1Z^KHI-\R'H4OBA,(8N>EK<7_/ MP^,&)1A(.KH+4,CB(T>&!$I,SI",I>S6#?T80\)1F@A0A&VC(KR`2+8ID9+4@U#(0./_&`E$< MIORN&$S+<3.3V00DX8[90UFN[23IT\HH,5*N7.Z0E?+SIB_!^E2'/K2(/)/H5Y0I M`Q(TH*)?-=`$.IH7%D0@`6=%*UH9$((U?72%,6RGZD(Z1UNF=*HJ79K!0@F; M4YU0;$2UZQ^3FE.#];.I+65JS&!U5\;NLY__B,T?8QN;V-;==)?\JJG:3K-8 MR1KU75M5'C.]DE6O@-8N(@!K-"4PUKQ\`*T5:`$*9#M;%$PS!&A]0'[R#&TN,AW+7(": M4J\I9>H>C:M-GRX4IW.RJ@"Q&AC14L6T>JEF:@TD`1=L9@1G94!=4."8N\3` M,8[DP%DCT)G=GO>ZQ]4L='>*X,H>N+O%12>B@B78O!Y3J?!\[G0A"U[#5M>Z M#@:B4(M67O-^^+'<#2\.;\)]Q5++@[G=\FVQNPBM<,, M;O"3DZK!PR*7NHD%K&8U15F]EGF[:X9@B]/9W/&BD7]53:^,>T)C]RJO,=5R MP([7Q("S=H`N^UT`7AQS`1FP`*TC,+*8_YIDD$H:N+,;K$P-2^'"DG'*EJ21 ME0V:611O4XUT]JV(1\RQKO"4=/D)9.[AE= MW-E6L_G;W%PHP\Y)[EAO&=7!]K*Y-^QJ9KKX6FIOS7>^MT9IGE;[A6^<(:S*04?Z$#$._!C/14XP;E>%^U*S$8L%Q4M2Y4W5(?9 M\5;VFJ0#S33&%^QD)7,[W@G5-ZX)L[])$QS3F/TWDL&<\G+;M'#@\YK!<7;A MM\H)Y)E4=L.5OG2F[\GB!J?TN55.9IEW]^A1-S"(2:[N)=_:>EQV><:_G&^K MT]SL4<9=V76^<[6+D>WZ)/HKVR[KHR2]Z7?'>][Q\G2>8UWJ:?XT/`%/0U7' MG.ZX!KB;25YT>+N=Y8P'][UW;7@4PD?5IZ1\_1#>]:B9>-[CC/O)YZ[3NNO= M]*='_6;X;G,,K[+QDI?YU,4;>>=>?.J_'>'K(1__]DX_?O>#Y^=?:7_J$EV^ MS6]K;Y,/R[]ZJH59'6S-Y3/W MV[?]\K49\I;+GLED?G[OX>SYP+H?:M61?OI#7^&"WU'3P+8_.TN=9,F^`C3` MI5L]M#.YKX.?!NPY!GQ`W_.[%QH[P>,UG[O`RN.VQ7NY"?RT_!.Y6IL_?.,Y M$$R\_W.JQ@,AN1(7UG&W\`M!&'Q!$32C@[/!&\3!G(LSS]+`@-!(L1"_P$LP]%KPQV4+)HZ.#4L0N^S03-L&^$;0\P;0C>\ MPS`$Q$`4Q$$DQ$(TQ$-$Q$14Q$5DQ$9TQ$>$Q$B4Q$FDQ$JTQ$O$Q$S4Q$WD MQ$[TQ$\$Q5!L,S%\1"\4Q5-$Q514Q55DQ59TQ5>$Q4V,"*J91=GKJ3SZN?<9 M%;ZJD$WJ10\ZF%LDDUI!OU@TQF-$QF14QF5DQF9TQDH$C7(:BR<+J>?YF2JZ MQJJ0QD`IBBW)D*-XQG`4QW$DQW(TQW-$QW1D0].X$'9$%8CI1O&YE_'`%6\$ MEG;D1GK4QZG)1W7TQW\$R(`4R($DR(*\Q&M4E'@DDOGHQWGF-)NMM)1X60^8W)"K=$>MY,I]S"2J1,NT5,NU9,NV M=,LKHCKX@\3X>\NZM,N[Q,N\U,NY[,*^]$N_W,O`%,S!),S"-$Q.^LO$5,P< M/,S&=,S'A,S(E,S-$8`"L,S+Q,S,U,S-Y,S.],S/!,W0%,W1),W2-,W31,W4 MW,P!*,;)=,W7A,W8E$U_3+@#M,W;=)D$G,W=Y,W>],W_WW3&VL3-X23.MFI- MX$3.Y%3.Y61.M1/.XH3.Z'R9XVS.ZK3.Z\3.[)1#])+.[O3.PZ!.[13/\43+ M-R3/\S0;Z_O.]4P]W43/]X1/O#3/^'S/YV3/^[1-]Z3/_>3/J9S/_A1/^\3/ M`<4^_030`T50FOS/!+5.`270!S4]`V70":50@C2^"LU.!X70#6TZ"3T^*TP^ M$,50Y5S,S!O("QW1!B5`O?N,`GB!0A*`A#B`%U6>%R"`A!@`$^!0N_#0*A11 MUV/"%(W,$D6YG$11(65.#0T@$[C1A]"`OWF!`X`(`2@!O]F`&'T(!-A1&>A1 M"YPL(.U#)'5,(K6:FCQ2,4U._R7]&YB!"`)8@9`I`2R%B1G%EBB5"0'040CM M4C[\T@P+4S0US#VDP[_XR#,%U-]4TY9ATJ[`@#VQ4ZJ@4CTQ`3GEB0-XT#UE M/C@U&EC%BPSP&L7PSFD-O+\S M4?X[*7#=RVW=SB=\QF^U5\D45_QX5M*)5AF0U=4Q5QO-'0.@T>*$UYJ35S9L M/O7K5_\+E=@,`M5QY->)?`%*O1N^T`"[95B=?;[%Z]NR-5R,'=PXZM9&+-S,M4O$E9#(]9K- MN-K'Y8L5X)F[OMO1="3$!JT$VGC#>B4G> M`W3=\@'33>V_G[W>Z'VW*,15K_76[-K=],U=[FRX9963[MV)[Y63\#7`\1U! MP46_RS5?^07<]0U2(YQ72[1>`J[=I&TXTKU?]BK>CMW?R1W@-[-#>!/@V&7@ MZC7@DZ1!H0M.^&7>#J9-!V8X8]L)_!4B"GX3_BU`_VVRV3/?#79?$R[@#92J MV.W<0UQ@'%;?ZF,Z%98)%OX?%P80&,X^&>8^&K96&TY@(-[7#[YA$[Q69OQA M*=;)[)40(HX)(QXD).8/)2[0Y<7<_Z\MM7K58@6EXBAVV0]LQBQ>XYODX@CQ M8I@`XY?0WQ>V8`X./HMM(2B>8S;680TVOQ(>1#D>9$*FWQ1>KS:98/"LX)R] MX#]NO64`^'T$DG43T9#],Y6]3SV6Y M8\"08&@18^8@X^MC8@R^Y%%,8TW>VP..K)72/QW<-/9E/F'F7%`60E/NX1^M MUGFERS27!Q$Y;X,U2/,8'H.'6YFED?>"V\NC%LF MC%QN3S.6M/_;I==TOK1U]N=D_E,NA&F_E%=]EBZ#UA.%[H]:-AF&_@N'1KU=MF0+S.1D?MYBENAY3I0%]=)? M:L(U/+DW_D`9[-H*-$*HYF@KSL*X(N'CK!WFHFJ,#F&A9NI?)3]1]>I`=D$A MD6F106BXC>3IG&3.4`&O2IZ%X^GWJ\*?UE4U!NMR7FK763'P,Q.R9J7;Z.J4 MUNM,93^H.^P/A>BM;N).+4$O?#6M9NS''MS()NP$'NQ[UI(ZGINT5B];EF0^ M#HP8^#/(T#$$7&S@NUB@IFCT3>I2MKRKCKQ/\NLC\Y#5AMW"OE7_=$9LN^93 MW98>6Y3M)_:KDQUJCSYNLM6CX@;@D&;NEP9A(5XZFF8(<(8(<1YCONBJ.XEK M*)KK+.-J^_OJDG/L,#MCY#Z;ONZMZH%BRM.>Y#9N/Z96#_3MBF[GECV_7!WI MW<7M2R+IL=9L^6[MHXYBQ4:8LUX3ZEX(ZU[HT!YGO*B3O3GM]/INV`MO\18U MZ.(L^`[FS9.S]8Y8$`]`7!IOG$-DN@ZSQ)-J,13P83XL11:F%G=Q"IR[R9Z\ M969O&[=HH$3AA5-PA6!PX3Q>KR"`A:4+$?`J1NKN-4WMF+/L[9?2<',J<2?.G-K.\T;G\KOFZFM^0L[.CSJ'$YM&7;9& MBX&EB_B2+VL)]":7;$87RD.?)TG';^JCO;_>[S33\F@<]=WV\BI6GT]O;.FI M\0C3;Z7A]9:.[O/6;%\.)`AK\Z;&&`3O8L_&BSK'[I[(T;M0`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`8H('4,@@;7?Q(NZ%^#'%YHGG<(R682"$ M99J9H9EKLEE6E7>R52>><](IY9-D#DAHEG<:*J>?@89Y'Z)[NIEHHTT*2-J/ MF8IT8IL(J=BIB*=AD,%'(.BXD8TCB9"C1`U8X)&FLFXY*:2XVEEKA8]*.B&PE!(+9J41&GMKLWTZY6M^PCH;K:T%8ILMM\$^6ZAB MNRH;KGS42LOLMI4M^F>D>SIJ;9?K,KJLM_0:F>RU^(*;+[SSZLON3M6LIL.(J:Z^Y3Z+[[[$/7OPQLO;R&JW_ MO,4VFW*UTW6L;;IV57PRR#//G-VX_-;\+KF]C@RPHB]#V^^P/7_KI^.-M0TDX MLN?J[#C-D,.,>8B*>RRRM90OSKG2A._-M-$@"IQVUPA[:IK7*XK=D`JYE6TV MZ[F'1/'-C&_>]-OO+DLY?Z?72WK.>=:4I^[JH\8U7#KKHGF=N?>F877]Y MFM%+_SGU^'IOL>\8IVZU?0C#5WSY?%>?.?)5:XZW_YKJ)32[[INZ?A#8G>(_ MD`=N1Z.SY8]UO,L>T>CWN_BA;GIL$]SYYA M^4`8+PQ1,&\;S%H$-Y<^#8UO<6]JH=/6=KG]K:]<[1/<#>\EP0X.R71@N5\! M3;2_`/2O3?\32``%"!P"!I%K!^P6\3P$0_)5!X8VS*$+7XC%J2TO@HYS7MT, MY;?1?'!T910A#]'(O.KY<(LX]"+XH,-"-YZ1B@ELX`B'^!D/)JV.CT'@'2^H M11E",(8'.6(3!1*[%151=J=)HA)1E4C=/9%;46S7%+.HR?JYC8YZ1!$<*Z@\ M^<4O>''DX"@+-T@2JE&.A/]LY=5>Z3[TE>R3]2GAW%;(("O:$C9KY.,G`:FE M3!8*9SWT9"\U`\?533(DBT11(U&$2$A&LD;--*`LMX=+0:Z13[S<91N3^9YM M&C*0I#RGOR"GH#$RAIBS9"4L&H0BY<4)SPY.:>^-2>#F>83UBN MLXZ-VZ,KLUG+?WX3,,R\9D.>29]HTF>:U90D1)VH4$IUTU]\W&1`5>A%ADZQ M,.$4%LN,.4%4ZK"/;GP<0.EI.9G6,$Y%$RA)-YK++GJ0I2;,J4[M:#76T%1^ MZ.R=,E/Y4Z#.$X(/S:@BATA1V%CTHM:$:L0J&35DKHV84VGHY+C*U)(""*S) M2JG_316X4WWFR:"Q3&M1UQI78,[/GV,5*X7XJ:N3WC6H(*VG6RU)*'>F$ZZ( MP^E8?_E4J$H4-E-E356M.A$F8K5$6K6570/GU8%J4Y5S35P[MWB=I2'T;_MJ M:2Q%^,?/"O6$K&7:"0/[VM.V5I>"DNUL/0M;OZJ10X259VG5FEO,D@61B6PL M:QZKFS$>'M8$R9OI*+=JW2'JT':AO1XPFMJ.8\T/BG^=CZ&C>?[ M7`=%4[;6M=JM+A=K>MN7OG>F.,QN*\F+6TDQJ;SU76BHH!O5_2G7,L9/G_%&? MAGAX3^,LA^5&K3?#F=*'^[*4B,KE!(YYN&5N\BFQK&BEMA?4LUW3C=&8:A:/ M6KZQX3&>XZ)GM/#9J@G^,XF.O.DMH[G1O#8CJ$W:Z=PN:Y:V&:8)&>>.0JW5U$;TB'MM[?\4UM)ZX_PEW'X=90,-^]0[5G"LX3+KL]3: MJK#"=6IT;>-#/WAC)`YV6\+4WYEYN%G+; MY-0K>@[^W[:P&7Z:!K?"34U7.3O3SC^W MLN>BH_//`F6Q&4TW6M9][I%0L[D3`4'N4)";=VN4WAD/6U][C:O2@A]KG;O=[Q?FK/J^[D_?>$QYW$+H_OX0G]+X(WA^96,M=J M5;_K9@OSZ-TEO:_G'3K(RU38*_9]RJ%L=Z(#76-X-_M!DPYW5J?^>E:':.5; M(W+79=[KH/^1"R"R``FXH("B=[7:14=626,7^:7NJSA#V-*Y5S'@>;_R[`N^ M5>*_'?>Y'_WR&X_^(1:>U*+V^/XU'6&]'W?YGW4EWLJ)7P#F5#G961!%7U-< MGE)4G]<)!]F-A`MX@.TLP'.5G>.I7]^1T_W=GBC%W0(V'?QEW#P-'@"BC_(5 MW]J%(&CU7"8-X!5)UPDR5/^E'8[I7PZVB>'1E7L=WP<6$^V!_Y]-C-\/]I*7 M.&`!0:!22."KH4;752"-.``%>(`66H#V380#<-Y'L$`(5``$E"$$=$`*:,KW M]13:M>$(QEP!KM\2@LI*M:`ZY5O=$6#^09LOF9CYD:`(`J(;8INOS2$=[J`@ M,M\!&J(>(>&6$:'MT9C\=50-,F(C-B"LA=Q(0&&=&8<*.(`52M8%B$0')(`I MGB(JGB($L`"@_2&'^1TP]9[/X"#O(=5&Z6&]H5ZX2=`+2J)_]6+;P>(@RF`) M"N.V09R4)5DMGE[I!2(F;T,+A)B$.[B$-+?4A'?WD6; M*_Z?,1;C0!8=TY$$:=2EA0(+0\UT3-J;(]"&,$]+.!GJC M;MQ:2+"``IAB!,@`"G"$",A`")QB![!C\/5@,_Y=)!K@R\5D\PDDDS%0L;W2 M)#)%?'+YAF]&71$;B,@(;/4Z/`BJDEUEC95UD M36@CB\1*#'2C1U)$`YB<:8QD`H2`0)SD`C0$6%*`#,"`6:(E:K0CQA&CTTTE MMS&:3=[DP,5@0>4ALUFE3.(E3L[?1-K@02)D0@KF#!9E)RWF2ZX7?E7E83*F MQ2%A80K/G%7_9#-I)4QP94ULI$B00$=:H040QVF48@)4P$"HY4<(AT"<@"DR M`,I-I,PQI4SR'):P$5)&W=VQ&9F$$0+B7*4YY=0!9!'F(QOJI1Q:&S(.$V]& M9?WEI5TF(D\49W8M77;V)O6(9NYX9D*`)F>2B.=Y74<8!P288CFFI7-IH0=< M0&XX`&K*P"G69G*R777>96]E6G1RYT)FDU_Z%ONYGT)9)C["CU!.9ADMJ%%" M)0+*HF/NGG'ZIW7BINH1IB[^RE5N)W)`8F3Z8<)D(H%E9-BP#D9<%`7,9W&@ M8TNR)P=J(7Q&!$C"0'W.Y8?R'8(:IFT&Y1XBEJIQ*("BU;,()V#>_^*#(APU M"I:"^B.#/N:2'BF=32=U+J4<[0AAFPE92NF-FZN./]LMX'I44FF5^JFA?:#Q M"&G?W,W>]&6R*>640F-ETE^3.JEM+JJ.=MES`MZE0FEAH51BEH^FOM-NO61_ M7DJFNA@!CNF=E:DSC5P0F0J-2("*_HAJJJ-)1L1'_,8$R$`$S*9+ZBFH9JDT M.ANB?*H1QB"`062.PE>U;1<&-:L=$BNQUN2&/FK*_1:_Z>G%7>BWO2(SYN(B MVB,0"MU@?A>&'NCY]60ZZ:>W]N.#'N*6>/\GZX#GZVPBJS81PVQ$FT:,;)KB M`Z1A.)YB2?:JH,)D0?;IP"[KSL6?)6[IM)I3N>'<)88J85(HE_05P_KFD_JJM0Z6;*TLRG0JIY6MV;I4M4:LU)[976%MMX$H MR+[KR=WMW79?$,%`!RAM*B:``E3`.K;BU.+HA3;LTU)MU4HF/HGK!HT9 MUW)JX\HM=A8AB$7_*KR\($GMZ6W2Y`)E+9C]:LA^ZSUVJT#^D^Y!IX%*I7J5 M+B;BK>S.+NV2Q(V:J[.*KL5^;H]>[G@19>*NJT_2;8VAVN*M[NZBD+K&'_)R M*46>+M1Z+NH6D\&A:PIFK!`BY;52S>LB+]U0J.N";A/6+OF6[Y_19<JY4])US'Y-+N86KO#^9_V2;*DZK]O)2Z9^U_O.4>MV3IA2+I"6Z_"& M[N'MY"&9KP,_<$:A[_3F+O[:+^X:6O_^KY(&J662W^UN('6ZU.KC!Z"7`#Z[`8 MC[&L2+#X9IGO,C&X@J_W,BKS%NSREG!3#C#"/O$$=]9N.=P4HZT+&FL6AXD7 MKZZ7!J.G!28-.R.JDK$B+[)`F#$/.G&E*C'$!C(1)V?FLI-">O`6>R\3`9]R`;;RII8K]!IS,H:H-Q^T(H,S'HOS.!.O(UKS]=HQ1ZGS)\.- MN0&EL(:M!2,F!V,T08MI*6,HI1*;__IS/O]ARD+T\8CJ2%\TN7$S0L>T^2HT MC^:GH[)TVR+K\[;T'?LP0[?SLS*SQ%HP+@/U$K.S/A(SN8)T"EML-'XQ]%JO MZ6;6L9[S,EOUML9C2R>R3'?U^6YR8A'4`BZQ5'.R3A>BZCYTY?H@'2?5'X[SF? M][F?__E;7PEH"'JQ]`>D-(ES,,NAIVT2YM6%;>Z7X`J'`SJE5[JE7SJF9[J0 MFP?1<'J3,7JM!%*D:[FC^T3SF'JIMUC-C+J;3+JFOSJLQ[JLSSJM^[?J^,E2 MT%NA::VCW7.J$WI^4-&A#_M\!$BM'SNR)[NR+SNS`_CKM56HBU=:F5E3=2VI M%\FMB\_@_'IY5,BM-#NXA[NXCSNYESL1?[O==#NZJ_\[L$>)NZ\[WQ0(O-_' MO!L2L1>[O9N[ON\[O_>[O_\[N[=[9@0\ZWI3']^AR[2VL"^\8`2\P.=[\Q?\RJ\\R[<\?^\3 MMK=ZKI\M+ZHPJ6+JI&2\PX=\R7]ZPA.URP>]T`\]T1?]3\J\WB"]P7/O4-E\ MTJ^>M"/]P),\SU?]NT.+T6>]UF\]UW=]H"]W,\]W0N]I*.ZR9Q\AZ2]V(]]O/,]U2?CR/<]P]?[WQN^'=6] MXB\^XS?^XM^]DR)^U7`KYMF7D^4#OI=W188-'="3/N[GON[O_I%+*/!$O32;TON!^NQ# 5>Z]_+^V!^ICS/O,WO_,_/XL'!``[ ` end