Vous êtes sur la page 1sur 1



%XOOHWLQG
DQQRQFHVQr6HPDLQHGX'FHPEUHDX'FHPEUH

&RPPXQDXWGHO
JOLVH$GYHQWLVWHGX6HSWLPH-RXUGH&KWHQD\0DODEU\


6DPHGL'FHPEUH

&RXFKHUGXVROHLOK

$XWUHVLQIRV
&RXUV GHFXLVLQHYJWDULHQQHO(JOLVHGH%DJQHX[ OHGFHPEUH OHV 
SHUVRQQHV LQWUHVVHV VRQW SULHV  GH VLQVFULUH DYDQW OH   GFHPEUH 
DXSUV GX FRRUGLQDWHXUVDQW-HDQ$OL[&(/(67,1SDUPDLO
ODGUHVVHMDFHOHVWLQ#\DKRRIURXSDU7HO

$WHOLHU*RVSHO'FHPEUH
0RUDQJLVK


/(JOLVH GH &UWHLO   &UPRQLH GH 


EDSWPH  SUYXH OH VDPHGL 
GFHPEUHK
62,5(('(35,(5(
6DPHGL  GFHPEUH GH K 
K 7KPH VSFLDO  m LO WH
PDQTXH  GH O
KXLOH }3DUWLFLSDWLRQ 
/LUHOH FKDSLWUH m,OWHPDQTXHGH
OKXLOH}GXOLYUHGX3DVWHXU0DUN
),1/(<m5DQLPHQRXV6HLJQHXU}

3URJUDPPH m OLEUH]YRXV GX WDEDF HQ  MRXUV  }  /D


UDOLVDWLRQ  GX SODQ GH  MRXUV DXUDOLHX GX  PDL DX  MXLQ
 DYHF XQH UXQLRQ GLQIRUPDWLRQ OH  PDL  1RXV
GHPDQGRQV  OJOLVH GH FRQWLQXHU   SULHU SRXU OTXLSH TXL
VH SUSDUH HW SRXU OHV IXPHXUV TXL YHXOHQW DUUWHU  GH IXPHU 9RXV SRXYH]
FKHUFKHUDXWRXUGHYRXVGHVIXPHXUVTXLVHUDLHQWLQWUHVVV
&RQFHUQDQWODPLVHHQSODFHGXQV\VWPHGHGRQDXVHLQGHO(JOLVHYHXLOOH]
YRXVUDSSURFKHUGH6\OYLDSRXUWRXWHVLQIRUPDWLRQVFRPSOPHQWDLUHV/HEXW
GHFHWWHLQLWLDWLYHWRXVFHTXHYRXVYRXOH]MHWHUYHQGUHRXGRQQHUXQH
DVVRFLDWLRQFDULWDWLYHOLGDOVHUDLWGHOHGRQQHUXQPHPEUHGHO(JOLVHTXLHQ
DEHVRLQ8QWDEOHDXHVWPLVYRWUHGLVSRVLWLRQGDQVOHKDOO

/D))1RUJDQLVHMRXUVGH
SULUHVXUOHWKPH5YHLOHW
5IRUPHGXDXMDQYLHU
-RXUQHIGUDOHGH-HQHHW
SULUHOHVDPHGLMDQYLHU

3RXU  XQ DFFRPSDJQHPHQW GHV SHUVRQQHV  VHXOHV ODVVRFLDWLRQ G$36 


$FFRPSDJQHPHQW SRXU 3HUVRQQHV6HXOHVRUJDQLVH XQVPLQDLUH
GX   GFHPEUH  DX  MDQYLHU   QXLWV HW MRXUV HQ 
SHQVLRQ FRPSOWH  SDU MRXUV   OH VPLQDLUH 3ODFHV
OLPLWHV (Q FHQWUH GH )UDQFH 9DO GH &UHXVH $FFV  GLUHFW
DXWRURXWH  JDUH &HWWH DQQH QRXV DERUGHURQV  OH WKPH 'H OD
6ROLWXGH DX 6HQWLPHQW  G([LVWHU 36    3RXU WRXV DXWUHV
UHQVHLJQHPHQWV FRPSOPHQWDLUHV YHXLOOH] FRQWDFWHU  0HOOH
(PPD -HUH]7HO    HW 0PH'HQLVH /DFKL]H7HO0DLOGH
FRQWDFWMD]H#RUDQJHIU



6$0(','(&(0%5(086,48(
/HVJURXSHVG(YU\YRXV
SUVHQWHQWm8QHDQQHGH
ORXDQJH}XQPRPHQWQHSDV
PDQTXHU/HFRQFHUWDXUDOLHXGH
+K

8QHIRUPDWLRQODFFRPSDJQHPHQWGHVILDQFV
3USDUDWLRQ DX PDULDJH GHVFRXSOHV GH ILDQFV &HWWHIRUPDWLRQVWHQGUDVXUGHX[
DQV  UDLVRQ GH TXDWUH GLPDQFKHV  SDU DQ &HWWH DQQH OHV UHQFRQWUHV DXURQW OLHX 
GDQV  OHV ORFDX[ GH OJOLVH DGYHQWLVWH G,YU\VXU6HLQH  OHV GLPDQFKHV  GFHPEUH
 HU  IYULHU DYULO  HWMXLQ  GHK K OHV UHSDVGH
PLGL VRQW SUYRLU  6LYRXVWHVLQWUHVVV PHUFLGHYRXVLQVFULUHDXSUVGH/\GLD
/XGRVN\ HQ  HQYR\DQW XQ FRXUULHO GH  UVHUYDWLRQ DYDQW OH  QRYHPEUH  ODGUHVVH
VXLYDQWHJURHWVLWQHYGD#\NVRGXODLG\O$IILFKHIRUPDWLRQB/HSDUHQWVHXOBBB

/D &RPPXQDXW KEUDTXH GH


3DULV %HWK %QHL 7VLRQ UHSUHQGVHV
FRXUV GKEUHX  OD 0DLVRQ GH 
O(VSUDQFH   UXH *UDFLHXVH
  3DULV 0WUR  DUUW 3ODFH
0RQJH  )UTXHQFH  OHV MHXGLV
WRXV OHV  MRXUV KRUV YDFDQFHV
VFRODLUHV +RUDLUH  GH K  
K  3UL[    SDU WULPHVWUH 
5HQVHLJQHPHQWV HW LQVFULSWLRQV  
0RQVLHXU 0HQMDWR 5RNRWRWVLPED
PRFOLDPJ#DMQHPU
7HO

/DVVRFLDWLRQ $'5$ ODQFH XQ DSSHO GXUJHQFH VXLWH  /CSLGPLH  GH ILYUH
KPRUUDJLTXH (EROD TXL IDLW UDJH HQ $IULTXH GHO2XHVWTXLDIDLWHQYLURQ 
YLFWLPHV SOXV TXH  WRXWHV OHV SLGPLHV SUFGHQWHV FRPELQHV $LGH]FHX[
TXL FRPEDWWHQW OD PDODGLH HQIDLVDQWXQGRQ9RWUHVRXWLHQDXMRXUG
KXLDLGHUD
 VDXYHU GHV YLHV 9RWUH GRQ VHUYLUD  GLVWULEXHU GH OD QRXUULWXUH GHV NLWV GH
SURWHFWLRQ HW GK\JLQH DLQVL TX VHQVLELOLVHU OD SRSXODWLRQ 9RWUH 
FRQWULEXWLRQ HQFDVGXUJHQFHVFRPPHFHOOHFLSHXWIDLUHODGLIIUHQFHHQWUHOD 
YLHHWODPRUW,QVFULYH]YRXVYLDOD1(:6/(77(5VXUOHVLWHGHOD))1 





1RWUHSURMHW3RXUXQHJOLVHXQLHHW
G\QDPLTXHHQSOHLQHFURLVVDQFH


UXH-HDQ/RQJXHW&KWHQD\0DODEU\

6LWHZHEZZZFKDWHQD\DGYHQWLVWHFRP


(PDLODGYHQWLVWHFKDWHQD\#JPDLOFRP

3DVWHXUGHO
JOLVH(OLRHQD\5DMDRQDK(PDLOHOLRHQD\UDMDRQDK#DGYHQWLVWHRUJ
$QFLHQ.DUO1250$1',(