5fr33004.fm5 Page 19 Friday, February 23, 2001 3:18 PM
02'('·(03/2,
$9$17' 87,/,6(5/(5e)5,*e5$7(85
&216(,/63285/$3527(&7,21'(
/ (19,5211(0(17
35e&$87,216(75(&200$1'$7,216
*e1e5$/(6
&200(17)$,5()21&7,211(5/(
&203$57,0(175e)5,*e5$7(85
&200(17)$,5()21&7,211(5/(
&203$57,0(17%$66(7(03e5$785(
&200(17'e*,95(5(71(772<(5/(
5e)5,*e5$7(85
1(772<$*((7(175(7,(1
',$*1267,&5$3,'(
6(59,&($35Ë69(17(
,167$//$7,21
5fr33004.fm5 Page 20 Friday, February 23, 2001 3:18 PM
$9$17' 87,/,6(5/(5e)5,*e5$7(85
/ DSSDUHLOTXHYRXVYHQH]G DFKHWHUHVW
H[FOXVLYHPHQWUpVHUYpjXQXVDJHPpQDJHU
/HFRPSDUWLPHQWEDVVHWHPSpUDWXUHVL
SUpVHQWSHUPHWODSURGXFWLRQGHJODoRQVOD
FRQVHUYDWLRQG DOLPHQWVVXUJHOpVHWFRQJHOpVDLQVL
TX XQHFRQJpODWLRQSDUIDLWHGHVDOLPHQWVIUDLVHW
FXLWV XQLTXHPHQWGDQVOHFRPSDUWLPHQW
OH
GpJLYUDJHHVWPDQXHO/HFRPSDUWLPHQW
UpIULJpUDWHXUjGpJLYUDJHDXWRPDWLTXHSHUPHW
GHFRQVHUYHUOHVDOLPHQWVIUDLVHWOHVERLVVRQV
3RXUXWLOLVHUDXPLHX[YRWUHDSSDUHLOQRXVYRXV
LQYLWRQVjOLUHDWWHQWLYHPHQWOHVLQVWUXFWLRQV
UHODWLYHVjVRQXWLOLVDWLRQGDQVOHVTXHOOHVYRXV
WURXYHUH]ODGHVFULSWLRQGHYRWUHDSSDUHLOHWGHV
FRQVHLOVXWLOHVVXUODFRQVHUYDWLRQGHVDOLPHQWV
&RQVHUYH]FHOLYUHWSRXUWRXWHFRQVXOWDWLRQ
XOWpULHXUH
$SUqVDYRLUGpEDOOpO DSSDUHLODVVXUH]YRXVTXHOD
SRUWHIHUPHSDUIDLWHPHQW
7RXWGRPPDJHpYHQWXHOGHYUDrWUHVLJQDOpDX
UHYHQGHXUGDQVXQGpODLGHKHXUHV
1RXVYRXVFRQVHLOORQVG DWWHQGUHDXPRLQV
GHX[KHXUHVDYDQWGHPHWWUHO DSSDUHLOHQ
VHUYLFHDILQTXHOHFLUFXLWUpIULJpUDQWVRLW
SDUIDLWHPHQWHIILFDFH
$VVXUH]YRXVTXHO LQVWDOODWLRQHWOHEUDQFKHPHQW
pOHFWULTXHRQWpWpUpDOLVpVSDUXQWHFKQLFLHQ
TXDOLILpVXLYDQWOHVLQVWUXFWLRQVGXIDEULFDQWHW
FRQIRUPpPHQWDX[QRUPHVORFDOHVHQYLJXHXU
&216(,/63285/$3527(&7,21'(
/ (19,5211(0(17
(PEDOODJH
/ HPEDOODJHHVWUHF\FODEOHjHWSRUWHOH
V\PEROHGXUHF\FODJH
3RXUODPLVHDXUHEXWVXLYH]OHVUpJOHPHQWDWLRQV
ORFDOHVHQYLJXHXU
/HVPDWpULDX[G HPEDOODJH VDFKHWVHQSODVWLTXH
pOpPHQWVHQSRO\VW\UqQHHWF GRLYHQWrWUHWHQXV
KRUVGHSRUWpHGHVHQIDQWVFDULOVFRQVWLWXHQWXQH
VRXUFHSRWHQWLHOOHGHGDQJHU
$SSDUHLO
&HWDSSDUHLODpWpIDEULTXpDYHFGHVPDWpULDX[
UHF\FODEOHV3RXUODPLVHDXUHEXWUHVSHFWH]OHV
QRUPHVUHODWLYHVjO pOLPLQDWLRQGHVGpFKHWVHQ
YLJXHXUGDQVOHSD\VG LQVWDOODWLRQ
$YDQWODPLVHDXUHEXWUHQGH]OHLQXWLOLVDEOHHQ
VHFWLRQQDQWOHFkEOHG DOLPHQWDWLRQpOHFWULTXH1HOH
MHWH]SDVGDQVODQDWXUHPDLVUHPHWWH]OHjXQ
FHQWUHGHFROOHFWHVSpFLDOLVpTXLSURFpGHUDjOD
UpFXSpUDWLRQGHVJD]UpIULJpUDQWV
,QIRUPDWLRQ
&HWDSSDUHLOQHFRQWLHQWSDVGH&)& OHFLUFXLWGH
UpIULJpUDWLRQFRQWLHQWGX5D RXGH+)&
OHFLUFXLWGHUpIULJpUDWLRQFRQWLHQWGX5D
,VREXWDQH 3RXUSOXVGHGpWDLOVYRLUODSODTXH
VLJQDOpWLTXHTXLVHWURXYHVXUO DSSDUHLO
/HVSUHVWDWLRQVpQRQFpHVGHO DSSDUHLOVHUpIqUHQW
jGHVDSSDUHLOVjLQVWDOODWLRQOLEUHQRQHQFDVWUpV
35e&$87,216(75(&200$1'$7,216
*e1e5$/(6
1 XWLOLVH]OHFRPSDUWLPHQWUpIULJpUDWHXUTXH
SRXUODFRQVHUYDWLRQG DOLPHQWVIUDLVHWOH
FRPSDUWLPHQWEDVVHWHPSpUDWXUHTXHSRXU
ODSURGXFWLRQGHJODoRQVODFRQVHUYDWLRQGHV
DOLPHQWVVXUJHOpVHWODFRQJpODWLRQVGHVDOLPHQWV
IUDLV XQLTXHPHQWGDQVOHFRPSDUWLPHQW
9HLOOH]jQHSDVFRXYULURXREWXUHUOHVJULOOHVGH
YHQWLODWLRQGHO DSSDUHLO
1 LQWURGXLVH]SDVGHUpFLSLHQWVHQYHUUH
FRQWHQDQWGHVOLTXLGHVGDQVOHFRPSDUWLPHQW
EDVVHWHPSpUDWXUHFDULOVSRXUUDLHQWH[SORVHU
1HPDQJH]SDVOHVJODoRQVRXOHVJODFHV
LPPpGLDWHPHQWDSUqVOHVDYRLUVRUWLVGX
FRPSDUWLPHQWEDVVHWHPSpUDWXUHFDULOV
SRXUUDLHQWFDXVHUGHVEUOXUHVGXHVDXIURLG
3RXUpYLWHUWRXWULVTXHG pWRXIIHPHQWHW
G HPSULVRQQHPHQWLQWHUGLVH]DX[HQIDQWVGHMRXHU
RXGHVHFDFKHUGDQVO DSSDUHLO
'pEUDQFKH]WRXMRXUVOHFkEOHRXFRXSH]OH
FRXUDQWDYDQWG LQWHUYHQLUVXUO DSSDUHLOSRXUVRQ
HQWUHWLHQRXQHWWR\DJH
/HFkEOHGRLWrWUHUHPSODFpH[FOXVLYHPHQWSDUXQ
WHFKQLFLHQDJUpp
5fr33004.fm5 Page 21 Friday, February 23, 2001 3:18 PM
672&.$*('(6'(15e(6'$16/(6
5e)5,*e5$7(856(75Ë*/(6
'·+<*,Ë1($/,0(17$,5(
'pFODUDWLRQGHFRQIRUPLWp
/DFRQVRPPDWLRQFURLVVDQWHGHSODWVSUpSDUpVHW
G·DXWUHVDOLPHQWVIUDJLOHVVHQVLEOHVHQSDUWLFXOLHUDX
QRQUHVSHFWGHODFKDvQHGXIURLG UHQGQpFHVVDLUH
XQHPHLOOHXUHPDvWULVHGHODWHPSpUDWXUHGHWUDQVSRUW
HWGHVWRFNDJHGHFHVSURGXLWV
­ODPDLVRQOHERQXVDJHGXUpIULJpUDWHXUHWOH
UHVSHFWGHUqJOHVG·K\JLqQHULJRXUHXVHV
FRQWULEXHURQWGHIDoRQVLJQLILFDWLYHHWHIILFDFHj
O·DPpOLRUDWLRQGHODFRQVHUYDWLRQGHVDOLPHQWV
3RXUOHVDSSDUHLOVDYHF,VREXWDQH 5D
&HWDSSDUHLOHVWGHVWLQpjHQWUHUHQFRQWDFWDYHFGHV
GHQUpHVDOLPHQWDLUHVHWHVWFRQIRUPHjOD'LUHFWLYH
(XURSpHQQH&((
/ LVREXWDQHHVWXQJD]QDWXUHOTXLHVWVDQVGDQJHU
SRXUO HQYLURQQHPHQWPDLVLOHVWLQIODPPDEOH,OHVW
GRQFLQGLVSHQVDEOHGHYRXVDVVXUHUTXHOHVWX\DX[GX
FLUFXLWGHUpIULJpUDWLRQVRQWHQSDUIDLWpWDW
0$Í75,6('(/$7(03e5$785(
6WRFNH]OHVDOLPHQWVOHVSOXVVHQVLEOHVGDQVOD]RQHOD
SOXVIURLGHGHO·DSSDUHLOFRQIRUPpPHQWDX[LQGLFDWLRQV
ILJXUDQWGDQVFHWWHQRWLFH
$WWHQGH]OHFRPSOHWUHIURLGLVVHPHQWGHV
SUpSDUDWLRQVDYDQWGHOHVVWRFNHU H[HPSOH
VRXSH /LPLWH]OHQRPEUHG·RXYHUWXUHVGHODSRUWH
3RVLWLRQQH]ODFRPPDQGHGHUpJODJHGX
WKHUPRVWDWGHIDoRQjREWHQLUXQHWHPSpUDWXUH
SOXVEDVVH&HUpJODJHGRLWVHIDLUH
SURJUHVVLYHPHQWDILQGHQHSDVSURYRTXHUOHJHO
GHVGHQUpHV
/DPHVXUHGHODWHPSpUDWXUHG·XQH]RQHFOD\HWWH
SDUH[HPSOHSHXWVHIDLUHDXPR\HQG·XQ
WKHUPRPqWUHSODFpGqVOHGpSDUWGDQVXQ
UpFLSLHQWUHPSOLG·HDX YHUUH 3RXUrWUHILGqOHHW
UHSUpVHQWDWLYHGHFHTXLVHSDVVHjO·LQWpULHXUGH
O·DSSDUHLOODOHFWXUHGHODWHPSpUDWXUHGRLWrWUH
IDLWHDSUqVTXHOTXHVKHXUHVGHVWDELOLVDWLRQGH
O·HQVHPEOHSDUH[HPSOHOHPDWLQjODSUHPLqUH
RXYHUWXUHGHODSRUWH
5(63(&7'(65Ë*/(6'·+<*,Ë1(
$/,0(17$,5(
5HWLUH]OHVHPEDOODJHVGXFRPPHUFHDYDQWGH
SODFHUOHVDOLPHQWVGDQVOHUpIULJpUDWHXU
H[HPSOHHPEDOODJHVGHVSDFNVGH\DRXUWV (PEDOOH]V\VWpPDWLTXHPHQWODQRXUULWXUHSRXU
pYLWHUTXHOHVGHQUpHVQHVHFRQWDPLQHQW
PXWXHOOHPHQW
'LVSRVH]OHVDOLPHQWVGHWHOOHVRUWHTXHO·DLU
SXLVVHFLUFXOHUOLEUHPHQWWRXWDXWRXU
&RQVXOWHUODQRWLFHG·XWLOLVDWLRQGHO·DSSDUHLOHQ
WRXWHVFLUFRQVWDQFHVHWHQSDUWLFXOLHUSRXUOHV
FRQVHLOVG·HQWUHWLHQ
1HWWR\H]IUpTXHPPHQWO·LQWpULHXUGX
UpIULJpUDWHXUHQXWLOLVDQWXQSURGXLWG·HQWUHWLHQ
VDQVHIIHWR[\GDQWVXUOHVSDUWLHVPpWDOOLTXHV
&KDvQHGXIURLGPDLQWLHQVDQVUXSWXUHGHOD
WHPSpUDWXUHUHTXLVHG·XQSURGXLWGHSXLVVD
SUpSDUDWLRQHWVRQFRQGLWLRQQHPHQWMXVTX·jVRQ
XWLOLVDWLRQSDUOHFRQVRPPDWHXU
5fr33004.fm5 Page 22 Friday, February 23, 2001 3:18 PM
&200(17)$,5()21&7,211(5/(
&203$57,0(175e)5,*e5$7(85
0LVHHQVHUYLFHGHO DSSDUHLO
0LVHHQPDUFKHGHO DSSDUHLO
%UDQFKH]O DSSDUHLO/RUVTXHO DSSDUHLOHVWEUDQFKpO pFODLUDJH
LQWpULHXUV DOOXPHjO RXYHUWXUHGHODSRUWHGXUpIULJpUDWHXUj
FRQGLWLRQTXHOHWKHUPRVWDWQHVRLWSDVSRVLWLRQQpVXUOHV\PEROHz
/HWKHUPRVWDWSHUPHWGHUpJOHUODWHPSpUDWXUHGX
FRPSDUWLPHQWUpIULJpUDWHXUDLQVLTXHFHOOHGXFRPSDUWLPHQW
EDVVHWHPSpUDWXUH VLSUpVHQW 5pJODJHGHODWHPSpUDWXUH
1. 3RXUXQIRQFWLRQQHPHQWFRUUHFWHWXQHPHLOOHXUH
FRQVHUYDWLRQGHVDOLPHQWVLOHVWFRQVHLOOpGHUpJOHUOH
WKHUPRVWDWFRPPHLQGLTXpVXUODILFKHMRLQWH
2. 3RXUUpJOHUODWHPSpUDWXUHjO LQWpULHXUGXFRPSDUWLPHQW
UpIULJpUDWHXUWRXUQH]OHERXWRQGHUpJODJHGXWKHUPRVWDW
VXUOHVQXPpURVSOXVEDV0,1SRXUREWHQLUXQH
WHPSpUDWXUH02,16)52,'(jO LQWpULHXUGX
FRPSDUWLPHQW
VXUOHVQXPpURV0('SRXUREWHQLUXQHWHPSpUDWXUH
02<(11(
VXUOHVQXPpURVSOXVpOHYpV0$;SRXUREWHQLUXQH
WHPSpUDWXUH3/86)52,'(
7KHUPRVWDWVXUzOHVIRQFWLRQVGHO DSSDUHLOHWO pFODLUDJHVRQW
LQWHUURPSXV
5HPDUTXH
/DWHPSpUDWXUHDPELDQWHODIUpTXHQFHG RXYHUWXUHGHODSRUWH
HWODSRVLWLRQGHO DSSDUHLOSHXYHQWLQIOXHUVXUODWHPSpUDWXUH
LQWpULHXUHGXUpIULJpUDWHXU/HVSRVLWLRQVGXWKHUPRVWDWGRLYHQW
YDULHUHQIRQFWLRQGHFHVIDFWHXUV
&RQVHUYDWLRQGHVDOLPHQWVGDQVOHFRPSDUWLPHQW
UpIULJpUDWHXU
5DQJH]OHVDOLPHQWVFRPPHLQGLTXpVXUODILJXUH
A. $OLPHQWVFXLWV
B. 3RLVVRQVYLDQGHV
C. )UXLWVHWOpJXPHV
D. %RXWHLOOHV
E. )URPDJHV
5HPDUTXHV
/ HVSDFHHQWUHOHVFOD\HWWHVHWODSDURLLQWpULHXUHDUULqUHGX
UpIULJpUDWHXUSHUPHWjO DLUGHFLUFXOHUOLEUHPHQW
1HGLVSRVH]SDVOHVDOLPHQWVHQFRQWDFWGLUHFWDYHFODSDURL
DUULqUHGXFRPSDUWLPHQWUpIULJpUDWHXU
1HSODFH]SDVG DOLPHQWVHQFRUHFKDXGVGDQVOHUpIULJpUDWHXU
&RQVHUYH]OHVOLTXLGHVGDQVGHVUpFLSLHQWVIHUPpV
$WWHQWLRQ
/DFRQVHUYDWLRQGHOpJXPHVjKDXWHWHQHXUHQHDXSHXW
SURYRTXHUODIRUPDWLRQGHFRQGHQVDWLRQVXUODSODTXHHQ
YHUUHGDQVOHEDFjIUXLWVHWOpJXPHVFHFLQHSRUWHSDV
SUpMXGLFHDXIRQFWLRQQHPHQWFRUUHFWGHO DSSDUHLO
A
E
B
D
C
5fr33004.fm5 Page 23 Friday, February 23, 2001 3:18 PM
&200(17)$,5()21&7,211(5/(
&203$57,0(17%$66(7(03e5$785(
/HFRPSDUWLPHQWEDVVHWHPSpUDWXUHHVWj
RX
j
'DQVOHVFRPSDUWLPHQWVj
RXj
LOHVWSRVVLEOH
GHFRQVHUYHUGHVDOLPHQWVVXUJHOpVSHQGDQWWRXWHOD
SpULRGHLQGLTXpHVXUO HPEDOODJH6LOHFRPSDUWLPHQW
EDVVHWHPSpUDWXUHHVWj
LOHVWDXVVLSRVVLEOHG \
FRQJHOHUOHVDOLPHQWVIUDLV
/DTXDQWLWpG DOLPHQWVIUDLVTX LOHVWSRVVLEOHGHFRQJHOHU
HQKHXUHVHVWLQGLTXpHVXUODSODTXHVLJQDOpWLTXH
5HPDUTXH
/HFRPSDUWLPHQWEDVVHWHPSpUDWXUHPDLQWLHQWODWHPSpUDWXUH
DSSURSULpHSRXUODFRQVHUYDWLRQGHVDOLPHQWVPrPHHQFDVGH
FRXSXUHGHFRXUDQW,OHVWWRXWHIRLVUHFRPPDQGpHQFDVGH
FRXSXUHGHFRXUDQWG pYLWHUG RXYULUODSRUWHGXFRPSDUWLPHQW
&RQJpODWLRQGHVDOLPHQWVIUDLV XQLTXHPHQWGDQVOH
FRPSDUWLPHQW
,PSRUWDQW
(QYHORSSH]KHUPpWLTXHPHQWOHVDOLPHQWVIUDLVjFRQJHOHUGDQV
GHVIHXLOOHVGHSDSLHUDOXPLQLXPXQHSHOOLFXOHWUDQVSDUHQWH
GHVHPEDOODJHVSODVWLTXHVLPSHUPpDEOHVGHVUpFLSLHQWVHQ
SRO\pWK\OqQHjFRXYHUFOHGHVUpFLSLHQWVDGDSWpVjOD
FRQJpODWLRQGHVDOLPHQWV
3ODFH]OHVDOLPHQWVjFRQJHOHUGDQVOHFRPSDUWLPHQW
VXSpULHXUHQODLVVDQWVXIILVDPPHQWGHSODFHDXWRXUGHV
SDTXHWVSRXUSHUPHWWUHjO DLUGHFLUFXOHUOLEUHPHQW
3RXUXQHSURFpGXUHRSWLPDOHGHFRQJpODWLRQGpSODFH]OH
ERXWRQGXWKHUPRVWDWG XQGHPLFUDQYHUVOHVSRVLWLRQVOHV
SOXVEDVVHVORUVTXHOHVDOLPHQWVVRQWLQWURGXLWVGDQVOH
FRPSDUWLPHQWFRQJpODWHXU
/DFRQJpODWLRQGXUHKHXUHV
02,6
$/,0(176
3RXUOHVDSSDUHLOVDYHFFRPSDUWLPHQW
3RXUOHVSpULRGHVGHFRQVHUYDWLRQ HQPRLV GHVDOLPHQWV
IUDLVFRQJHOpVUHVSHFWH]OHVLQGLFDWLRQVGXWDEOHDXFLFRQWUH
$XPRPHQWGHO DFKDWG DOLPHQWVFRQJHOpVYpULILH]TXH
/ HPEDOODJHRXOHSDTXHWVRQWLQWDFWVFDUO DOLPHQWSHXWVH
GpWpULRUHU6LXQSDTXHWHVWJRQIOpRXV LOSUpVHQWHGHVWDFKHV
G KXPLGLWpLOQ DSDVpWpFRQVHUYpGDQVOHVFRQGLWLRQV
RSWLPDOHVHWLOSHXWDYRLUVXELXQGpEXWGHGpFRQJpODWLRQ
$FKHWH]OHVDOLPHQWVFRQJHOpVHQGHUQLHUHWXWLOLVH]GHVVDFV
LVRWKHUPHVSRXUOHXUWUDQVSRUW
'qVO DUULYpHjODPDLVRQPHWWH]LPPpGLDWHPHQWOHVDOLPHQWV
VXUJHOpVGDQVOHFRPSDUWLPHQWEDVVHWHPSpUDWXUH
1HUHFRQJHOH]SDVOHVDOLPHQWVSDUWLHOOHPHQWGpFRQJHOpV
PDLVFRQVRPPH]OHVGDQVXQGpODLGHKHXUHV
eYLWH]RXUpGXLVH]DXPD[LPXPOHVYDULDWLRQVGH
WHPSpUDWXUH5HVSHFWH]ODGDWHGHSpUHPSWLRQLQGLTXpHVXU
O HPEDOODJH
6XLYH]WRXMRXUVOHVLQVWUXFWLRQVILJXUDQWVXUO HPEDOODJHSRXUOD
FRQVHUYDWLRQGHVDOLPHQWVFRQJHOpV
5fr33004.fm5 Page 24 Friday, February 23, 2001 3:18 PM
&200(17)$,5()21&7,211(5/(
&203$57,0(17%$66(7(03e5$785(
3URGXFWLRQGHJODoRQV
5HPSOLVVH]OHEDFjJODoRQVDX[HWSODFH]OHGDQVOH
FRPSDUWLPHQWEDVVHWHPSpUDWXUH
6LOHEDFHVWFROOpDXIRQGGXFRPSDUWLPHQWEDVVHWHPSpUDWXUH
Q XWLOLVH]SDVG REMHWVSRLQWXVRXWUDQFKDQWVSRXUOHGpFROOHU
3RXUVRUWLUSOXVIDFLOHPHQWOHVJODoRQVGXEDFSOLH]
OpJqUHPHQWFHGHUQLHU
&200(17'e*,95(5(71(772<(5/(
5e)5,*e5$7(85
$YDQWG HIIHFWXHUWRXWHRSpUDWLRQG HQWUHWLHQRXGH
QHWWR\DJHUHWLUH]ODILFKHGHODSULVHGHFRXUDQWRX
GpEUDQFKH]O DSSDUHLO
/HGpJLYUDJHGXFRPSDUWLPHQWUpIULJpUDWHXUHVW
HQWLqUHPHQWDXWRPDWLTXH
/DSUpVHQFHSpULRGLTXHGHSHWLWHVJRXWWHVG HDXVXUODSDURL
DUULqUHjO LQWpULHXUGXFRPSDUWLPHQWUpIULJpUDWHXULQGLTXH
TX XQGpJLYUDJHDXWRPDWLTXHHVWHQFRXUV
/ HDXGHGpJLYUDJHHVWDPHQpHDXWRPDWLTXHPHQWjWUDYHUVXQRULILFH
G pYDFXDWLRQSXLVUHFXHLOOLHGDQVXQUpFLSLHQWRHOOHV pYDSRUH
1HWWR\H]UpJXOLqUHPHQWO RULILFHG pYDFXDWLRQGHO HDXGH
GpJLYUDJHHQXWLOLVDQWO RXWLOIRXUQLDYHFO DSSDUHLOSRXUJDUDQWLU
XQHpYDFXDWLRQFRQVWDQWHHWFRUUHFWHGHO HDXGHGpJLYUDJH
'pJLYUDJHGXFRPSDUWLPHQWEDVVHWHPSpUDWXUH
1RXVYRXVVXJJpURQVGHGpJLYUHUOHFRPSDUWLPHQWEDVVH
WHPSpUDWXUHRXIRLVSDUDQRXORUVTXHODIRUPDWLRQGH
JODFHHVWH[FHVVLYH
/DIRUPDWLRQGHJODFHHVWXQSKpQRPqQHQRUPDO/D
TXDQWLWpHWODUDSLGLWpGHIRUPDWLRQGHODJODFHYDULHQWHQ
IRQFWLRQGHVFRQGLWLRQVDPELDQWHVHWGHODIUpTXHQFH
G RXYHUWXUHGHODSRUWH/·DFFXPXODWLRQGHJODFHGDQVOH
KDXWGXFRPSDUWLPHQWHVWQRUPDOHHWQ DDXFXQH
LQIOXHQFHVXUOHERQIRQFWLRQQHPHQWGHO DSSDUHLO
,OHVWFRQVHLOOpGHGpJLYUHUTXDQGOHVUpVHUYHVVRQWSHX
DERQGDQWHV
2XYUH]ODSRUWHHWUHWLUH]WRXVOHVDOLPHQWV(QYHORSSH]OHV
ELHQVHUUpVOHVXQVFRQWUHOHVDXWUHVGDQVGXSDSLHUMRXUQDOHW
SODFH]OHVGDQVXQHQGURLWWUqVIUDLVRXGDQVXQVDFLVRWKHUPH
/DLVVH]ODSRUWHGXFRQJpODWHXURXYHUWHSRXUIDLUHIRQGUHODJODFH
1HWWR\H]O LQWpULHXUDYHFXQHpSRQJHLPELEpHG HDXWLqGHHWRXGH
GpWHUJHQWQHXWUH1 XWLOLVH]SDVGHVXEVWDQFHVDEUDVLYHV
5LQFH]HWVpFKH]VRLJQHXVHPHQW
5DQJH]OHVDOLPHQWV
)HUPH]ODSRUWH
5HEUDQFKH]O DSSDUHLO
0HWWH]O DSSDUHLOHQPDUFKH
5fr33004.fm5 Page 25 Friday, February 23, 2001 3:18 PM
1(772<$*((7(175(7,(1
1HWWR\H]UpJXOLqUHPHQWOHVJULOOHVGHYHQWLODWLRQDLQVLTXHOH
FRQGHQVHXUTXLVHWURXYHjO DUULqUHGHO DSSDUHLODYHFXQ
DVSLUDWHXURXXQHEURVVH
1HWWR\H]O H[WpULHXUDYHFXQFKLIIRQGRX[
(QFDVG DEVHQFHSURORQJpH
1. 9LGH]FRPSOqWHPHQWOHUpIULJpUDWHXU
2. 'pEUDQFKH]O DSSDUHLO
3. 'pJLYUH]HWQHWWR\H]O LQWpULHXUGHO DSSDUHLO
4. 3RXUpYLWHUODIRUPDWLRQGHPRLVLVVXUHVGHPDXYDLVHVRGHXUV
RXG R[\GDWLRQOHVSRUWHVGHO DSSDUHLOGRLYHQWUHVWHU
RXYHUWHVORUVTXHFHOXLFLQ HVWSDVHQVHUYLFH
5. 1HWWR\H]O DSSDUHLO
1HWWR\H]O LQWpULHXUGXFRPSDUWLPHQWEDVVHWHPSpUDWXUH V LO
HVWSUpVHQW GXUDQWOHGpJLYUDJH
1HWWR\H]SpULRGLTXHPHQWOHFRPSDUWLPHQWUpIULJpUDWHXU
DYHFXQHpSRQJHLPELEpHG XQHVROXWLRQG HDXWLqGHHWRXGH
GpWHUJHQWQHXWUH5LQFH]HWHVVX\H]DYHFXQFKLIIRQGRX[
1 XWLOLVH]SDVGHVXEVWDQFHVDEUDVLYHV
1HWWR\H]O H[WpULHXUDYHFXQFKLIIRQGRX[LPELEpG HDX
1 XWLOLVH]QLGpWHUJHQWVDEUDVLIVQLpSRQJHVPpWDOOLTXHVQL
GpWDFKDQWV H[DFpWRQHWULFKORUpWK\OqQH QLYLQDLJUH
',$*1267,&5$3,'(
/·DSSDUHLOQHIRQFWLRQQHSDV
<DWLOXQHFRXSXUHGHFRXUDQW"
/DILFKHHVWHOOHFRUUHFWHPHQWLQWURGXLWHGDQVOD
SULVHGHFRXUDQW"
/ LQWHUUXSWHXUELSRODLUHHVWLOHQFOHQFKp"
/HIXVLEOHQ DWLOSDVJULOOp"
/HFkEOHG DOLPHQWDWLRQHVWLOFRXSp"
/HWKHUPRVWDWHVWLOVXUODSRVLWLRQz $UUrW "
/DWHPSpUDWXUHjO LQWpULHXUGHV
FRPSDUWLPHQWVQ HVWSDVDVVH]IURLGH
/DSRUWHDWHOOHpWpIHUPpHFRUUHFWHPHQW"
/HVDOLPHQWVJrQHQWLOVODIHUPHWXUHGHSRUWH"
/ DSSDUHLOHVWLOLQVWDOOpSUqVG XQHVRXUFHGHFKDOHXU"
/HWKHUPRVWDWHVWLOVXUODERQQHSRVLWLRQ"
/DFLUFXODWLRQGHO·DLUjWUDYHUVOHVRXYHUWXUHVGH
YHQWLODWLRQHVWHOOHJrQpH"
/DWHPSpUDWXUHjO LQWpULHXUGX
FRPSDUWLPHQWUpIULJpUDWHXUHVWWURS
IURLGH
/·DSSDUHLOIDLWWURSGHEUXLW
/·LQVWDOODWLRQGHO DSSDUHLODWHOOHpWpUpDOLVpH
FRUUHFWHPHQW"
/HVWX\DX[jO DUULqUHVHWRXFKHQWLOVRXYLEUHQWLOV"
,O\DGHO HDXDXIRQGGXFRPSDUWLPHQW
UpIULJpUDWHXU
/DJRXORWWHG pYDFXDWLRQGHO HDXGHGpJLYUDJH
HVWHOOHERXFKpH"
)RUPDWLRQGHJODFHH[FHVVLYHGDQVOH
FRPSDUWLPHQWEDVVHWHPSpUDWXUH
/DSRUWHDWHOOHpWpIHUPpHFRUUHFWHPHQW"
'HVDOLPHQWVHPSrFKHQWLOVODIHUPHWXUHGHODSRUWH"
5HPDUTXHV
/HVEUXLWVGHJDUJRXLOOHPHQWHWOHVEUXLWVGH
GpWHQWHSURYHQDQWGXFLUFXLWGH
UpIULJpUDWLRQGRLYHQWrWUHFRQVLGpUpV
FRPPHQRUPDX[
/HWKHUPRVWDWHVWLOVXUODERQQHSRVLWLRQ"
5fr33004.fm5 Page 26 Friday, February 23, 2001 3:18 PM
6(59,&($35Ë69(17(
$YDQWGHFRQWDFWHUOH6HUYLFH$SUqV9HQWH
1. 9pULILH]V LOQ HVWSDVSRVVLEOHG pOLPLQHUOHV
SDQQHVVDQVDLGH YRLU´'LDJQRVWLF5DSLGHµ 2. 5HPHWWH]O DSSDUHLOHQPDUFKHSRXUYRXVDVVXUHU
TXHO LQFRQYpQLHQWDpWppOLPLQp6LO LQFRQYpQLHQW
SHUVLVWHGpEUDQFKH]jQRXYHDXO DSSDUHLOHW
UpSpWH]O RSpUDWLRQXQHKHXUHSOXVWDUG
3. 6LOHUpVXOWDWHVWHQFRUHQpJDWLIFRQWDFWH]OH
6HUYLFH$SUqV9HQWH
,167$//$7,21
&RPPXQLTXH]
OHW\SHGHSDQQH
OHPRGqOH
OHQXPpURGH6HUYLFH QXPpURTXLVHWURXYH
DSUqVOHPRW6(59,&(VXUODSODTXHVLJQDOpWLTXH
SODFpHjO LQWpULHXUGHO DSSDUHLO YRWUHDGUHVVHFRPSOqWH
YRWUHQXPpURGHWpOpSKRQHDYHFO LQGLFDWLI
5HPDUTXH
/HFKDQJHPHQWGXVHQVGHO RXYHUWXUHGHOD
SRUWHGHO DSSDUHLOHIIHFWXpSDUOH6HUYLFH
$SUqV9HQWHQ HVWSDVFRQVLGpUpFRPPHXQH
LQWHUYHQWLRQVRXVJDUDQWLH
1 LQVWDOOH]SDVO DSSDUHLOSUqVG XQHVRXUFHGHFKDOHXU/HV
DSSDUHLOVLQVWDOOpVGDQVXQHQGURLWFKDXGH[SRVpVDX[UD\RQV
GLUHFWVGXVROHLORXSUqVG XQHVRXUFHGHFKDOHXU UDGLDWHXU
FXLVLQLqUH FRQVRPPHQWSOXVG pQHUJLHFHTXLGRLWrWUHpYLWp
6LFHQ HVWSDVSRVVLEOHLOFRQYLHQWGHUHVSHFWHUOHVGLVWDQFHV
PLQLPDOHVVXLYDQWHV
FPGHVFXLVLQLqUHVjFKDUERQRXjPD]RXW
FPGHVFXLVLQLqUHVpOHFWULTXHVHWRXjJD]
0RQWHUOHVHQWUHWRLVHVHQGRWDWLRQVXUODSDUWLHDUULqUHGX
FRQGHQVHXUVLWXpjO DUULqUHGHO DSSDUHLO
3RXUXQIRQFWLRQQHPHQWRSWLPDOODLVVH]XQHVSDFHG DXPRLQV
FPDXGHVVXVGHO DSSDUHLOHWSRVLWLRQQH]OHVDXWUHVPHXEOHV
jF{WpjXQHGLVWDQFHVXIILVDQWHSRXUSHUPHWWUHXQH
FLUFXODWLRQPLQLPXPGHO DLU
3RVLWLRQQH]O DSSDUHLOGDQVXQHQGURLWVHFHWELHQDpUpjSODW
HQUpJODQWOHVSLHGVDYDQWVLQpFHVVDLUH
1HWWR\H]O LQWpULHXU
0RQWH]OHVDFFHVVRLUHVIRXUQLV
%UDQFKHPHQWpOHFWULTXH
/HVEUDQFKHPHQWVpOHFWULTXHVGRLYHQWrWUHFRQIRUPHV
DX[QRUPHVORFDOHVHQYLJXHXU
/DWHQVLRQHWODSXLVVDQFHVRQWLQGLTXpHVVXUODSODTXH
VLJQDOpWLTXHVLWXpHjO LQWpULHXUGHO DSSDUHLO
/DPLVHjODWHUUHGHO DSSDUHLOHVWREOLJDWRLUHDX[
WHUPHVGHODORL/HIDEULFDQWGpFOLQHWRXWH
UHVSRQVDELOLWpSRXUWRXVGRPPDJHVpYHQWXHOVVXELVSDU
GHVSHUVRQQHVGHVDQLPDX[RXGHVELHQVSDUVXLWHGH
ODQRQREVHUYDWLRQGHVFRQVLJQHVPHQWLRQQpHVFL
GHVVXV
6LODSULVHHWODILFKHQHVRQWSDVGXPrPHW\SHIDLWHVOHV
UHPSODFHUSDUXQWHFKQLFLHQTXDOLILp
1 XWLOLVH]SDVG DGDSWDWHXUVGHUDOORQJHVQLGHSULVHVPXOWLSOHV
0LVHKRUVWHQVLRQGHO DSSDUHLO
3RXUPHWWUHO DSSDUHLOKRUVWHQVLRQGpEUDQFKH]VRQFkEOH
G DOLPHQWDWLRQRXDFWLRQQH]O LQWHUUXSWHXUELSRODLUHLQVWDOOpHQ
DPRQWGHODSULVH
">
Lien public mis à jour
Le lien public vers votre chat a été mis à jour.