2021-03-31-accounts

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

��

�� �
�� �
�� �
�� �
�� �
�� �
�� ��
�� ��
�� ��
�� ��

��

�

The Strategic Report

��

��

��

�

��

��
��

��

��
��
��
��

��

��
��
��
��
��

��

��
��
��

��

��
��
��

��

�

��

��
��
��
��
��
��
��
��
��
��

��

��
��
��
��

��

��
��
��
��
��

��

��
��
��

�

��

��
��
��
��
��
��
��
��
��
��
��
��
��
��
��

��

  - ���������������������������������������������

  - �������������������������������������������������������������������������������

  - ��������������������������������������������������������������������������������������������������� ����������������������������������������������������������������������������

  - �����������������������������������������������������������������������������������������

  - ��������������������������������������������������������������������������������

��
- ��
- ��~��
��
��

�

��

��
��
��
��
��
��
��
��

��

��
��
��

��

��
��
��
��
��
��
��
��

��

Organisation and Governance

��

��	��
��	��
	��
	��
	��
	��
	��
	��
	��
��	��
	��
	��
	��
	��
	��
	��
	��
	��
	��
��	��
	��
	��
	��
	��
	��
	��
��	��
	��
	��

��

��	��
	��
	��
	��
	��
	��
	��
	��
	��
	��
��	��
��	��
	��
	��
	��
	��

��

��	��
��	��
	��
	��
	��
	��
	��
	��
	��
��	��
	��
	��
	��
	��
	��
	��
	��
	��
	��
	��
	��
��	��
��	��
	��
	��
	��

��

Financial Review

**"#$!%&'(&!)*+(+&(+,$!**

**L(&($6$(!@C!M+&?+&D!>?(+,+(+$1! C@'!(#$!B$'+@2!$2$2!;91(!E&'?#!=<=9!**

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |!=<=9!!|=<=<!| |4@($!|N'$1('+?($2!|O$1+0&($2!|/$1('+?($2!!|"@(&D!!|"@(&D!| |!!P!|P!|P!|P!|P!| |)?@6$!C'@6| |"#$%&'!$%(!()%$&)%'!|;|+!|+!|,-./012!|,-./012!|-3/124!| |5%67'&87%&'!|Q|,/491!|+!|!+!!|,/491!|,/9..!| |::::::!|::::::!|::::::!|::::::!|!!::::::!| |"@(&D!+?@6$|,/491!|+!|,-./012!|,--/;1;!|-;/101| |::::::!|::::::!|::::::!|::::::!|!!::::::| |RHB$2+(5'$!@| |<=$#&$>?7!$@&6&7'!|S|+!|23/9,9!|-;/4;4!|;0/294!|1,/223!| |A$'%B!CD%('!|T!|+!|3/,1,!|+!|3/,1,!|!,9/2-,!| |::::::!|::::::!|::::::!|::::::!|!!::::::!| |+!|.1/,0,!|-;/4;4!|,9-/.12!|0,/13;!| |::::::!|::::::!|::::::!|::::::!|!!::::::!| |E7&!%@)87!|,/491!|F.1/,0,G!|;-/.0,!|-9/-91!|F,4/9,2G!| |H#$%'C7#!>7&I77%!CD%('!|+!|+!|+!|!+!|!!!!!!+!| |::::::!|::::::!|::::::!|::::::!|!!::::::!| |4$(!6@,$6$(1!+!C521|,/491!|F.1/,0,G!|;-/.0,!|-9/-91!|!!!!F,4/9,2G!| |/$?@?+D+&(+@!@C!C521| |H)&$?!CD%('!>#)DB=&!C)#I$#(!|,/34,!|.2,/0.-!|499/;32!|12./-.;!|!!!!!1.1/-14!| |::::::!|::::::!|::::::!|::::::!|!!::::::!| |"@(&D!C5*21!?&''+$2!C@'G&'2|2/940!|23-/-0.!|4;1/.-.!|13-/9--!|!!!!12./-.;!| |UUUUUU!|UUUUUU!|UUUUUU!|UUUUUU!|!!UUUUUU!|

----- End of picture text -----

H=7!'&$&787%&!)C!C%$%@$?!$@&6&7'!%@?D(7'!$??!B$%'!$%(!?)''7'!#7@)B%'7(!%!&=7!J7#)(K! L??!%@)87!$%(!7MJ7%(&D#7!(7#67!C#)8!@)%&%D%B!$@&6&7'K!

"#$!@($1!@!B&0$1!I!(@!9;!C@'6!B&'(!@C!(#$1$!&??@5*(1J!

K!:!K!

**"#$!%&'(&!)*+(+&(+,$!**

**W&D&*?$!L#$$(! &1!&(!;91(!E&'?#!=<=9!**

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |=<=9!|=<=<!| |4@($!|N'$1('+?($2!|O$1+0&($2!|/$1('+?($2!!!!!!!!!|"@(&D!|"@(&D!| |P!|P!|P!|P!|P!| |-5''$(!>11$(1| |<$'=!$&!>$%N!$%(!%!=$%(!|!2/940!!|231/21-!!|4;,/;0;!|13,/20,!|12./2--!| |O7>&)#'!|9<|+!|+!|./.0-!|!./.0-!|,/,99!| |::::::!|::::::!|::::::!|!!::::::!|::::::!| |2/940!|231/21-!|4;1/.-.!|13-/3.1!|12-/.--!| |X+&7+D+(+$1| |<#7(&)#'P!$8)D%&'!C$??%B!(D7!!!!!!!| |!!!I&=%!)%7!Q7$#!|99|+!|F0;,G!|+!|F0;,G!|F;91G!| |::::::!|::::::!|::::::!|::::::!|::::::| |4$(!>11$(1|2/940!|23-/-0.!|4;1/.-.!|13-/9--!|12./-.;!| |UUUUUU!|UUUUUU!|UUUUUU!|UUUUUU!|UUUUUU!| |M521| |R%#7'&#@&7(!|2/940!|+!|+!|2/940!|,/34,!| |O7'B%$&7(!|9=|+!|23-/-0.!|!+!|23-/-0.!|.2,/0.-!| |A7'&#@&7(!|9;|+!|+!|4;1/.-.!|4;1/.-.!|499/;32!| |::::::!|::::::!|::::::!|::::::!|::::::!| |2/940!|23-/-0.!|4;1/.-.!|13-/9--!|12./-.;!| |UUUUUU!|UUUUUU!|UUUUUU!|UUUUUU!|!UUUUUU|

----- End of picture text -----

H=7!$@@)D%&'!I7#7!$JJ#)67(!>Q!&=7!H#D'&77'!)%!SSSSSSS!494,K!��

SSSSSSSSSSK!

O&,+2!WD&Y$! "'51($$!

K!V!K!

**"#$!%&'(&!)*+(+&(+,$!**

4@($1!(@!(#$!>??@5(1! C@'!(#$!B$'+@2!$2$2!;91(!E&'?#!=<=9!

**9J! W&1+1!@C!B'$B&'&(+@*!!**

$G! H=7!@=$#&Q!@)%'&&D&7'!$!JD>?@!>7%7C&!7%&&Q!$'!(7C%7(!>Q!TAU!,94K!!H=7!C%$%@$?!'&$&787%&'!=$67! >77%! J#7J$#7(! %! $@@)#($%@7! I&=! L@@)D%&%B! $%(! A7J)#&%B! >Q! <=$#&7'P! U&$&787%&! )C! A7@)887%(7(! V#$@&@7! $JJ?@$>?7! &)! @=$#&7'! J#7J$#%B! &=7#! $@@)D%&'! %! $@@)#($%@7! I&=! &=7! T%$%@$?!A7J)#&%B!U&$%($#('!$JJ?@$>?7!%!&=7!RW!$%(!A7JD>?@!)C!5#7?$%(!FTAU!,94G!''D7(!%! X@&)>7#!49,;/!&=7!<=$#&7'!L@&!49,,/!RW!"7%7#$??Q!L@@7J&7(!V#$@&@7!$%(!&=7!@=$#&QY'!B)67#%*%B! ()@D87%&K!
G! H=7!$@@)D%&'!$#7!(#$I%!DJ!D%(7#!&=7!='&)#@$?!@)'&!@)%67%&)%K!!UB%C@$%&!$@@)D%&%B!J)?@7'! $JJ?7(!%!&=7!J#7J$#$&)%!)C!&=7'7!C%$%@$?!'&$&787%&'!$#7!'7&!)D&!>7?)IK!!H=7'7!J)?@7'!=$67!>77%! @)%''&7%&?Q! $JJ?7(! &)! $??! Q7$#'! J#7'7%&! D%?7''! )&=7#I'7! '&$&7(K! ! H=7! C%$%@$?! '&$&787%&'! $#7! J#7'7%&7(!%!'&7#?%B!I=@=!'!&=7!CD%@&)%$?!@D##7%@Q!)C!&=7!@=$#*&Q!$%(!#)D%(7(!&)!&=7!%7$#7'&!Z,K!
@G H=7!<=$#&Q!'!$!@=$#&$>?7!%'&&D&)%!I&=!7M78J&)%!C#)8!&$M$&)%!D%(7#!'7@&)%!-9-!)C!&=7!5%@)87! $%(!<)#J)#$&*)%!H$M7'!L@&!,;33K!
(G! H=7!<=$#&Q!'!7M78J&!C#)8!&=7!#7[D*#787%&!&)!J#7J$#7!$!@$'=!C?)I!'&$&787%&K!
7G! H=7!$@@)D%&'!=$67!>77%!J#7J$#7(!)%!&=7!B)%B!@)%@7#%!>$''!$'!$&!&=7!&87!)C!$JJ#)6%B!&=7'7! $@@)D%&'!&=7!H#D'&77'!=$67!$!#7$')%$>?7!7MJ7@&$&)%!&=$&!&=7!@=$#&Q!=$'!$(7[D$&7!#7')D#@7'!&)! @)%&%D7!%!)J7#$&)%$?!7M'&7%@7!C)#!&=7!C)#7'77$>?7!CD&D#7K!

=J! >??@5(+0!B@D+?+$1

$G >DD@?&(+@!@C!?@1(1!(@!'$1@5'?$1!$HB$2$2!

UJ7@C@!&78'!)C!7MJ7%(&D#7!$#7!$&&#>D&7(!&)!&=7!$JJ#)J#$&7!@$&7B)#Q/!)C!

+! <)'&! )C! #$'%B! CD%('K! ! H=7'7! $#7! &=7! @)'&'! $'')@$&7(! I&=! B7%7#$&%B! 6)?D%&$#Q! %@)8%B! #7')D#@7'!C#)8!$??!')D#@7'!)&=7#!&=$%!D%(7#&$N%B!@=$#&$>?7!$@&6&7'K!
+! <=$#&$>?7!$@&6&7'K!!H=7'7!$#7!&=7!#7')D#@7'!$JJ?7(!>Q!&=7!<=$#&Q!%!D%(7#&$N%B!&'!I)#N!&)! 877&!&'!@=$#&$>?7!)>]7@&67'K!
+! ")67#%$%@7! @)'&'K! ! H=7'7! $#7! @)'&'! &=$&! #7?$&7! &)! &=7! B7%7#$?! #D%%%B! )C! &=7! @=$#&QK! ! H=7! B)67#%$%@7! @)'&'! )C! &=7! <=$#&Q! $#7! J#8$#?Q! $'')@$&7(! I&=! @)%'&&D&)%$?! $%(! '&$&D&)#Q! #7[D#787%&'K!!H=7'7!$#7!%@?D(7(!D%(7#!@=$#&$>?7!@)'&'K!
+! UDJJ)#&!@)'&'!'D@=!$'!'$?$#7'!=$67!>77%!$??)@$&7(!&)!$@&6&Q!@)'&!@$&7B)#7'!)%!$!@)%''&7%&! >$''K!

>G! **M52!&??@5(+*0!**

H=7!<=$#&Q!=)?('!D%#7'&#@&7(!CD%('!I=@=!@$%!>7!D'7(!%!$@@)#($%@7!I&=!&=7!@=$#&$>?7!)>]7@&67'! )C!&=7!@=$#&Q!$%(!$&!&=7!('@#7&)%!)C!&=7!&#D'&77'K!

H=7!<=$#&Q!((!#7@767!B#$%&'!$%(!()%$&)%'!I=@=!8D'&!>7!D'7(!C)#!'J7@C@!JD#J)'7'K!!L'!$&!&=7! J7#)(!7%(!&=7!>$?$%@7!)%!#7'&#*@&7(!CD%('!I$'!Z4;1/.-.!K!

O7'B%$&7(! CD%('! $#7! D%#7'&#@&7(! CD%('/! I=@=! =$67! >77%! (7'B%$&7(! >Q! &=7! H#D'&77'! C)#! $! J$#&*@D?$#!JD#J)'7K!

K!I!K!

**"#$!%&'(&!)*+(+&(+,$!**

4@($1!(@!(#$!>??@5(1! C@'!(#$!B$'+@2!$2$2!;91(!E&'?#!=<=9!

=J! >??@5(+0!B@D+?+$1!Z?@(+5$2[
?[! )?@6+0!'$1@5'?$1

O)%$&)%'! $#7! #7@)B%'7(! )%@7! &=7! @=$#&Q! =$'! >77%! %)&C7(! )C! &=7! ()%$&)%/! D%?7''! J7#C)#8$%@7! @)%(&)%'!#7[D#7!(7C7##$?!)C!&=7!$8)D%&K!5%@)87!&$M!#7@)67#$>?7!%!#7?$&)%!&)!()%$&)%'!#7@767(!D%(7#! BC&!$(!)#!(77('!)C!@)67%$%&!'!#7@)B%'7(!$&!&=7!&87!)C!#7@7*J&K!

5%&7#7'&!)%!CD%('!=7?(!)%!(7J)'&!'!%@?D(7(!I=7%!#7@76$>?7/!I=@=!'!%)#8$??Q!)%!%)&C@$&*)%!C#)8!&=7! >$%NK!

"#$%&!%@)87!'!#7@)B%'7(!I=7%!&=7!@=$#&Q!=$'!7%&&?787%&!&)!&=7!CD%('/!$%Q!J7#C)#8$%@7!@)%(&)%'! $&&$@=%B!&)!&=7!B#$%&!$#7!87&/!&!'!J#)>$>?7!&=$&!&=7!%@)87!I??!>7!#$'7(/!$%(!&=7!$8)D%&!@$%!>7! 87$'D#7(!#7?$>?Q!$%(!*'!%)&!(7C7##7(K!

5%!$@@)#($%@7!I&=!&=7!<=$#&7'!UXAV!FTAU!,94G!&=7!&87!)C!6)?D%&77#'!'!%)&!#7@)B%'7(K!

**2[! M+&?+&D!+1('56$(1**

^$'@!C%$%@$?!$''7&'!I=@=!%@?D(7!@$'=!$%(!>$%N!>$?$%@7'!$#7!%&$??Q!#7@)B%'7(!$&!&#$%'$@&)%!J#*@7K!
$[! \$1+@1
H=7!@=$#&Q!=$'!$!(7C%7(!@)%&#>D&)%!J7%')%!'@=787!&)!I=@=!&!8$N7'!@)%&#>D&)%'!C)#!&=7!>7%7C&!)C! *&'!78J?)Q77'K!

**;J! )?@6$!C'@6!0'&(1!&2!2@&(+@*1**

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |N'$1('+?($2!|O$1+0&($2!|/$1('+?($2!|"@(&D!|"@(&D!| |M521!|C521!|C521!|=<=9!|=<=<!| |P!|P!|P!|P!|P!| |]'&(1!&2!2@&(+@1| |O)%$&)%'!|+!|+!|,23/-,.!|,23/-,.!|.-/999!| |U&D(7%&!@)%&#>D&)%!|+!|+!|,4/30.!|,4/30.!|,4/-24!| |"C&!$(!|+!|+!|2/20-!|2/20-!|,/,99| |::::::!|::::::!|::::::!|::::::!|::::::!| |+!|+!|,-./012!|,-./012!|-3/124!| |UUUUUU!|UUUUUU!|UUUUUU!|UUUUUU!|UUUUUU!|

----- End of picture text -----

H=7!@)8J$#$&67!CBD#7'!%@?D(7!#7'&#@&7(!()%$&)%'!$%(!#7'&#@&7(!'&D(7%&!@)%&#>D&)%'!)C!Z.-/999!$%(! Z,4/-24!#7'J7@&*67?QK!

**Q! )?@6$!C'@6!+,$1(6$*(1**

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |N'$1('+?($2!|O$1+0&($2!|/$1('+?($2!|"@(&D!|"@(&D!| |C521!|C521!|C521!|=<=9!|=<=<!| |P!|P!|P!|P!|P!| |5%&7#7'&!#7@767(!|,/491!|+!|!+!|,/491!|,/9..!| |UUUUUU!|UUUUUU!|UUUUUU!|UUUUU!|UUUUUU!|

----- End of picture text -----

H=7!@)8J$#$&67!CBD#7'!%@?D(7!D%#7'&#@&7(!%&7#7'&!#7@767(!*%@)87!)C!Z,/9..K!

K!9<!K!

**"#$!%&'(&!)*+(+&(+,$!**

4@($1!(@!(#$!>??@5(1! C@'!(#$!B$'+@2!$2$2!;91(!E&'?#!=<=9!

SJ! -#&'+(&7D$!&?(+,+(+$1

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |N'$1('+?($2!|O$1+0&($2!|/$1('+?($2!|"@(&D!|"@(&D!| |C521!|C521! !|C521!|=<=9!|=<=<!| |P!|P!|P!|!P!|P!| |U@=)?$#!7MJ7%'7'!|+!|+!|,9/-;.!|,9/-;.!|,2/;31!| |U$?$#Q!@)'&!|+!|4,/4,0!|!.3/1;3!|1;/;,-!|,9/2-4!| |_7>'&7!(767?)J87%&!@)'&'!!|+!|,/441!|+!|,/441!|;10!| |!!!!!!!!!!!L(67#&'%B!!|+!|+!|+!|+!|119!| |A7%&!|+!|0/31-!!|+!|0/31-!|,./.99!| |H#$67?!|+!|,/,,4!|+!|,/,,4!|0/91;!| |X&=7#!@)'&'!|+!|,/,.4!|+!|,/,.4!|+!| |")67#%$%@7!F'77!%)&7!0G!|+!|-/..3!|+!|-/..3!|,2/;9.!| |::::::!|::::::!|::::::!|!::::::!|!::::::!| |+!|23/9,9!|-;/4;4!|;0/294!|1,/223!| |UUUUUU!|UUUUUU!|UUUUUU!|UUUUUU!|UUUUUU!|

----- End of picture text -----

H=7!@)8J$#$&67!CBD#7'!%@?D(7!#7'&#@&7(!U@=)?$#!7MJ7%'7'!)C!Z,2/;31K!L??!)&=7#!@)8J$#$&67!@)'&'! $#7!(7'B%$&7(K!!

**TJ! RHB$2+(5'$!@!'&+1+0!C521**

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |N'$1('+?($2!|O$1+0&($2!|/$1('+?($2!|"@(&D!|"@(&D!| |C521!|C521!|C521!|=<=9!|=<=9!| |P!|P!|P!|P!|P!| |U$?$#7'!|+!|3/,1,!|+!|3/,1,!|,9/2-,!| |UUUUUU!|UUUUUU!|UUUUUU!|UUUUUU!|!UUUUUU!| |H=7!@)8J$#$&67!CBD#7'!%@?D(7!(7'B%$&7(!'$?$#Q!@)'&'!)C!Z,9/2-4K| |]@,$'&?$!?@1(1| |N'$1('+?($2!|O$1+0&($2!|/$1('+?($2!|"@(&D!|!"@(&D!| |C521!|C521!|C521!|=<=<!|=<9I!| |P!|P!|P!|P!|P!| |5%(7J7%(7%&!#767I!)C!$@@)D%&'!|+!|-09!|+!|-09!|-09!| |`7B$?!$%(!J#)C7'')%$?!C77'!|+!|,/1,.!|+!|,/1,.!|4/;32!| |UDJJ)#&!@)'&'!a!'$?$#7'!|+!|2/41.!|+!|2/41.!|,9/2-,!| |::::::!|::::::!|::::::!|!::::::!|::::::!| |+!|-/..3!|+!|-/..3!|,2/;9.!| |UUUUUU!|UUUUUU!|UUUUUU!|!!UUUUUU!|!!UUUUUU!| |!!!!!!!!!!!H=7!@)8J$#$&67!@)'&'!$#7!$??!(7'B%$&7(!@)'&'K!!!!| |>&D31+1!@C!$6BD@3$$!?@1(1!| |!!!!!!!!!!!!!!!=<=9!|=<=<!| |P!|P| |U$?$#7'!|03/32,!|29/19.!| |U)@$?!'7@D#&Q!|,.2!!|F42;G!| |V7%'*)%!|4/21-!|13;!| |::::::!|::::::!| |3,/22;!|2,/9-.!| |UUUUUU|UUUUUU!|

----- End of picture text -----

:J! ]@,$'&?$!?@1(1

!!!!!!!!!!!H=7!@)8J$#$&67!@)'&'!$#7!$??!(7'B%$&7(!@)'&'K!!!!

VJ! >*&D31+1!@C!$6BD@3$$!?@1(1!

E)!78J?)Q77!#7@767(!78)?D87%&'!)C!)67#!Z19/999!%!&=7!J7#)(K!!H=7!@=$#&Q!78J?)Q7(!&I)!CD??+&87! $%(!$!J$#&+&87!78J?)Q77!(D#%B!&=7!J7#)(K!

K!99!K!

**"#$!%&'(&!)*+(+&(+,$!**

4@($1!(@!(#$!>??@5(1! C@'!(#$!B$'+@2!$2$2!;91(!E&'?#!=<=9!

**IJ! "'51($$1!&2!Y$3!6&&0$6$*(!B$'1@**$D!'$65$'&(+@!&2!$HB$1$1**

H=7!H#D'&77'!%7&=7#!#7@767(!%)#!I$67(!$%Q!#78D%7#$&)%!(D#%B!&=7!J7#)(K!

H=7!&)&$?!$8)D%&!)C!78J?)Q77!>7%7C&!#7@767(!>Q!N7Q!8$%$B787%&!J7#')%%7?!'!Z3,/22;K!OD7!&)!&=7! 'b7!)C!&=7!@=$#&Q!&=7!H#D'&77'!@)%'(7#!$??!'&$CC!878>7#!&)!>7!N7Q!78J?)Q77'K!

9<J! O$7(@'1

----- Start of picture text -----
|||||| |---|---|---|---|---| |=<=9|=<=<!| |P!|P!| |X&=7#!(7>&)#'!|./.0-!|,/,99!| |::::::!|::::::!| |./20-!|,/,99!| |UUUUUU|UUUUUU| |99J!|-'$2+(@'1!25$!G+(#+!@$!3$&'| |=<=9|=<=<!| |P!|P!| |L@@#D$?'!|0;,!|;91!| |::::::!|::::::!| |0;,!|;91!| |UUUUUU|UUUUUU!| |9=J!|O$1+0&($2!C52| |.B$+0|)?@6+0!|.5(0@+0!|>(!;91(!| |7&D&?$!|/$1@5'?$1!|/$1@5'?$1!|E&'?#!=<=9!| |P!|P!|P!|P!| |H$&$!H#D'&!|.2,/0.-!|+!|!F.1/,0,G!!|23-/-0.!| |UUUUUU|UUUUUU!|UUUUUU!|UUUUUU|

----- End of picture text -----

H$&$!H#D'&'!O7'B%$&7(!TD%(P!&)!D%(7#&$N7/!$%(!877&!&=7!7MJ7%'7'!)C/!$@&6&7'!#7[D#7(!&)!'DJJ)#&!!!!!!&=7! 7(D@$&)%$?!$%(!J#)C7'')%$?!)D&@)87'!)C!>#??$%&!5%($%!'&D(7%&'!C#)8!#D#$?!?)I+*%@)87!>$@NB#)D%('K!

**9;J! /$1('+?($2!C5*2**

----- Start of picture text -----
|||||| |---|---|---|---|---| |.B$+0|)?@6+0!|.5(0@+0!|>(!;91(!| |7&D&?$!|/$1@5'?$1!|/$1@5'?$1!|E&'?#!=<=9!| |P!|P!|P!|P!| |<$&$?Q'&!CD%(!|499/;32!|;./012!|F,9/-;.G!|43-/,-4!| |W$#&$!<)%%7@&!|+!|19/999!|F.3/1;3G!|,,/294!| |::::::!|::::::!|::::::!|::::::!| |499/;32!|,-./012!|F-;/4;4G!|4;1/.-.!| |UUUUUU|UUUUUU!|UUUUUU!|UUUUUU|

----- End of picture text -----

<$&$?Q'&!TD%(P!C)#!=)?'&@!F7(D@$&)%$?/!J$'&)#$?/!J#)C7'')%$?!$%(!@)88D%&Q+>D?(%BG!'DJJ)#&!)C!$??!W$#&$! <$&$?Q'&!U@=)?$#'!(D#%B!%&7#%$&)%$?!$%(!D%(7#B#$(D$&7!'&D(Q/!%&$??Q!7'&$>?'=7(!&)!'DJJ)#&!&=7!C#'&! F49,1G!<)=)#&!)C!<$&$?Q'&!U@=)?$#'/!$%(!%)I!'DJJ)#&%B!$((&)%$?!<$&$?Q'&!U@=)?$#'K!

W$#&$!<)%%7@&P!(767?)J87%&!)C!$!=)?'&@!(B&$?!J?$&C)#8!C)#!?7$#%%B!$%(!@)%%7@&%B!I&=!)JJ)#&D%&QK!

K!9=!K!

**"#$!%&'(&!)*+(+&(+,$!**

4@($1!(@!(#$!>??@5(1! C@'!(#$!B$'+@2!$2$2!;91(!E&'?#!=<=9!

**99J! /$D&($2!B&'(3!('&1&?(+@1**

A7%&!)C!Z0/31-!F4949P!Z,./.99G!I$'!J$(!&)!c$%]D?$!A$]$%!F&=7!8)&=7#!)C!A$%]&$!c7%)%!A$]$%G!C)#! D'7!)C!=7#!J#78'7'!$'!&=7!@=$#&QY'!)CC@7'K!dM&7%'67!(D7!(?B7%@7/!%@?D(%B!'77N%B!>7%@=8$#N'! C)#!@)8J$#$>?7!'J$@7/!I$'!@)%(D@&7(!&)!6$?($&7!&=7!#7%&!$'!>7%B!%!&=7!>7'&!%&7#7'&'!)C!&=7!@=$#&QK! H=7!#7%&!J$(!I$'!7'&$>?'=7(!$'!>7%B!$&!>7?)I+@)887#@$?!8$#N7&!#7%&K!!!

V#)C7'')%$?!C77'!)C!Z,/1,.!F4949P!Z4/;32G!I7#7!J$(!&)!_7%%!H)I%'7%(/!<=$#&7#7(!L@@)D%&$%&'/! C)#!&=7!J#)6')%!)C!$@@)D%&$%@Q!$%(!>))NN77J%B!'7#6@7'K!L]$Q!^$=?/!&#D'&77/!*'!$!J$#&%7#!)C!_7%%! H)I%'7%(K!!

^)&=!&#$%'$@&)%'!I7#7!$B#77(!>Q!&=7!H#D'&77'!$'!>7%B!%!&=7!>7'&!%&7#7'&'!)C!&=7!@=$#*&QK!!

K!9;!K!

Independent Examiner's Report

��

�� �� ��

��

��
��

��

��
��
��
��

��

�� 8th�� �� ��

��������

���������������������������������

���������������������������������������

����������������������������������������������

��������

�������������

��������

����������

������������

�����������������

�������������

������������

�������������

�����������������

�����������

"#$!%&'(&!)*+(+&(+,$!

L(&($6$(!@C!M+&?+&D!>?(+,+(+$1! C@'!(#$!B$'+@2!$2$2!;91(!E&'?#!=<=9!

"#$!%&'(&!)*+(+&(+,$!

W&D&*?$!L#$$(! &1!&(!;91(!E&'?#!=<=9!

"#$!%&'(&!)*+(+&(+,$!

4@($1!(@!(#$!>??@5(1! C@'!(#$!B$'+@2!$2$2!;91(!E&'?#!=<=9!

9J! W&1+1!@C!B'$B&'&(+@*!!

=J! >??@5(+0!B@D+?+$1

>G! M52!&??@5(+*0!

"#$!%&'(&!)*+(+&(+,$!

4@($1!(@!(#$!>??@5(1! C@'!(#$!B$'+@2!$2$2!;91(!E&'?#!=<=9!

2[! M+&?+&D!+1('56$(1

;J! )?@6$!C'@6!0'&(1!&2!2@&(+@*1

Q! )?@6$!C'@6!+,$1(6$*(1

"#$!%&'(&!)*+(+&(+,$!

4@($1!(@!(#$!>??@5(1! C@'!(#$!B$'+@2!$2$2!;91(!E&'?#!=<=9!

TJ! RHB$2+(5'$!@!'&+1+0!C521

"#$!%&'(&!)*+(+&(+,$!

4@($1!(@!(#$!>??@5(1! C@'!(#$!B$'+@2!$2$2!;91(!E&'?#!=<=9!

IJ! "'51($$1!&2!Y$3!6&&0$6$*(!B$'1@$D!'$65$'&(+@!&2!$HB$1$1**

9<J! O$7(@'1

9;J! /$1('+?($2!C5*2

"#$!%&'(&!)*+(+&(+,$!

4@($1!(@!(#$!>??@5(1! C@'!(#$!B$'+@2!$2$2!;91(!E&'?#!=<=9!

99J! /$D&($2!B&'(3!('&1&?(+@1

���������������������������������������������������������������������

����������������������������������������������������

�����������������������������������������

��������������������������������

�����������������

������������

��

��

��

��

��

��

��

��

��

��

��

��

��

��

��

**"#$!%&'(&!)*+(+&(+,$!**

**L(&($6$(!@C!M+&?+&D!>?(+,+(+$1! C@'!(#$!B$'+@2!$2$2!;91(!E&'?#!=<=9!**

**"#$!%&'(&!)*+(+&(+,$!**

**W&D&*?$!L#$$(! &1!&(!;91(!E&'?#!=<=9!**

**"#$!%&'(&!)*+(+&(+,$!**

**9J! W&1+1!@C!B'$B&'&(+@*!!**

>G! **M52!&??@5(+*0!**

**"#$!%&'(&!)*+(+&(+,$!**

**2[! M+&?+&D!+1('56$(1**

**;J! )?@6$!C'@6!0'&(1!&2!2@&(+@*1**

**Q! )?@6$!C'@6!+,$1(6$*(1**

**"#$!%&'(&!)*+(+&(+,$!**

**TJ! RHB$2+(5'$!@!'&+1+0!C521**

**"#$!%&'(&!)*+(+&(+,$!**

**IJ! "'51($$1!&2!Y$3!6&&0$6$*(!B$'1@**$D!'$65$'&(+@!&2!$HB$1$1**

**9;J! /$1('+?($2!C5*2**

**"#$!%&'(&!)*+(+&(+,$!**

**99J! /$D&($2!B&'(3!('&1&?(+@1**

��

��

��

��

��

��