Loading...
HomeMy WebLinkAbout2010-09-07 CONCOM-min 0,187(6±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¶VUHTXHVWLQIDYRU SP0HHWLQJ5'$0XOWLSOH6LWH6HZHU:RUN '(7 3UHVHQWIRUWKHDSSOLFDQW0LNH)ODPDQJ/H[LQJWRQ(QJLQHHULQJ'HSDUWPHQW 'RFXPHQWDWLRQ5HTXHVWIRU'HWHUPLQDWLRQDSSOLFDWLRQZDWWDFKPHQWV /HJDO$GYHUWLVHPHQW 3DJHRI 0,187(6±/(;,1*721&216(59$7,21&2000,66,210((7,1*6HSWHPEHU 0LNH)ODPDQJSUHVHQWHGSODQVWRUHSDLUVHZHUPDQKROHVDW7RSKHW6ZDPS &RQVHUYDWLRQ$UHDWKH7RZQ5HF\FOLQJ)DFLOLW\.DWDKGLQ:RRGV&RQVHUYDWLRQ $UHD0HDJKHUYLOOH&RQVHUYDWLRQ$UHD/LQFROQ)LHOGDQGWKH%ULGJH6FKRRO RSHQVSDFH7KHSURMHFWFRQVLVWHGRIFOHDULQJDZDONLQJSDWKIURPWKHVWUHHWWRWKH PDQKROHFOHDULQJDVL[IRRWUDGLXVDURXQGPDQKROHDQGXVLQJDKRVHWRDSSO\ VHDOLQJJURXWWRWKHPDQKROHV¶LQWHULRU7UXFNVZLOOEHGULYHQRIIURDGZKHQWKH IRRWKRVHLVQRWORQJHQRXJKWRUHDFKWKHPDQKROHZKLOHWKHWUXFNLVRQWKH URDG 0RWLRQPDGHDQGVHFRQGHGWRLVVXHDQHJDWLYHGHWHUPLQDWLRQZLWKFRQGLWLRQV LQIDYRU SP+HDULQJ12,&RQFRUG$YHQXH '(3%/0DS/RW 3UHVHQWIRUWKHDSSOLFDQW0LNH)ODPDQJ/H[LQJWRQ(QJLQHHULQJ'HSDUWPHQW 'RFXPHQWDWLRQ1RWLFHRI,QWHQWDSSOLFDWLRQZDWWDFKPHQWV /HJDO$GYHUWLVHPHQW 0LNH)ODPDQJSUHVHQWHGDSODQWRUHSDLUD´VHZHUSLSH 'LVFXVVLRQVHVWDEOLVKHGWKDW 'XULQJGHZDWHULQJDPDQXIDFWXUHGWUHDWPHQWWDQNZRXOGEHXVHGWR UHPRYHVHGLPHQWDQGZDWHUZRXOGEHUHWXUQHGWRVWUHDP 6WRFNSLOLQJZRXOGEHUHPRYHGDWQLJKW *UDYLW\IHHGVZRXOGEHUHVWRUHGHDFKHYHQLQJ &XUUHQWSLSLQJZRXOGEHUHSODFHGZLWK´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±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±/(;,1*721&216(59$7,21&2000,66,210((7,1*6HSWHPEHU 0RWLRQPDGHDQGVHFRQGHGWRFRQWLQXHKHDULQJWR6HSWHPEHUDWWKH DSSOLFDQW¶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¶VUHTXHVWLQIDYRU SP5HTXHVWIRU3ODQ&KDQJH0DSOH6WUHHW '(3%/0DS/RW$ 'RFXPHQWDWLRQ'ULYHZD\3ODQGDWHG$XJXVW 0RWLRQPDGHDQGVHFRQGHGWRDSSURYHSHUPLWDOWHUDWLRQVUHTXHVWDVDILHOG FKDQJHLQIDYRU 7UXVW)XQG([SHQGLWXUHV 0RWLRQPDGHDQGVHFRQGHGWRDSSURYHIXQGH[SHQGLWXUHRIIURPWKH /H[LQJWRQ1DWXUH7UXVW)XQGIRUWKHFRQVWUXFWLRQRIDWUHVWOHEULGJHDWWKH +DQFRFN6WUHHWHQWUDQFHRIWKH3DUNHU0HDGRZ&RQVHUYDWLRQ$UHDLQIDYRU 7UXVW)XQG([SHQGLWXUHV 0RWLRQPDGHDQGVHFRQGHGWRDSSURYHIXQGH[SHQGLWXUHXSWRIURPWKH &KLHVD)DUP7UXVW)XQGIRUQHZVLJQDJHDQGWUDLOLPSURYHPHQWVDWWKH&KLHVD )DUP&RQVHUYDWLRQ$UHDLQIDYRU .LRVN2SHQLQJDW/DQGORFNHG)RUHVW )ULHQGVRIWKH/DQGORFNHG)RUHVWUHTXHVWHGSHUPLVVLRQWRKRVWDNLRVNRSHQLQJ 0RWLRQPDGHDQGVHFRQGHGWRDSSURYHLQIDYRU (DJOH6FRXW&HUHPRQ\ 6FRXW/HDGHU%HUQLH*XQWKHUUHTXHVWWKHXVHRI&KLHVD)DUP&RQVHUYDWLRQ$UHD WRKRVWDQ(DJOH6FRXW&HUHPRQ\ 3DJHRI 0,187(6±/(;,1*721&216(59$7,21&2000,66,210((7,1*6HSWHPEHU 7KH&RPPLVVLRQIHOWWKDWEHFDXVH&KLHVD)DUPGLGQRWKDYHDILUHSLWSDUNLQJRU SRUWDEOHEDWKURRPIDFLOLWLHVLWZRXOGQRWEHDQDSSURSULDWHORFDWLRQIRUWKLVHYHQW 7KH&RPPLVVLRQVXJJHVWHGWKDW:LOODUG¶V:RRGV&RQVHUYDWLRQ$UHDDVDPRUH VXLWDEOHORFDWLRQ 0RWLRQPDGHDQGVHFRQGHGWRDSSURYH:LOODUG¶V:RRGVIRUWKH&HUHPRQ\LQ IDYRU-R\FH0LOOHUDJDLQVW 6FKHGXOH0HHWLQJZLWK&RQVHUYDWLRQ/DQG6WHZDUGV 7KH&RPPLVVLRQVFKHGXOHGDPHHWLQJZLWKWKH&RQVHUYDWLRQ/DQG6WHZDUGVWR GLVFXVVFRQVHUYDWLRQODQGPDQDJHPHQW7KHPHHWLQJLVWREHKHOGRQ7XHVGD\ 6HSWHPEHUDWSP7KHPHHWLQJORFDWLRQZLOOEHGHWHUPLQHGE\WKH &RQVHUYDWLRQ&OHUNEDVHGRQURRPDYDLODELOLW\ SP0HHWLQJ$GMRXUQHG 5HVSHFWIXOO\VXEPLWWHGE\ /RXLVH9LQFL &RQVHUYDWLRQ&OHUN 3DJHRI