Baixe o app para aproveitar ainda mais
Prévia do material em texto
���������� $9$�81,9,5786 KWWS���XQLYLUWXV�����������VD�HDVW���HOE�DPD]RQDZV�FRP�DYD�ZHE���DYD�$YDOLDFDR8VXDULR+LVWRULFR�������QRYR�� ��� 4XHVWmR���� (P�WHUPRV�FRQFHLWXDLV��R�%DODQoR�3DWULPRQLDO�p�D�GHPRQVWUDomR�FRQWiELO�TXH�PRVWUD�D VLWXDomR�HFRQ{PLFR�ILQDQFHLUD�GH�XPD�HQWLGDGH�HP�XPD�GHWHUPLQDGD�GDWD� 6REUH�R�%DODQoR�3DWULPRQLDO�FRPSOHWH�DV�IUDVHV�H�DVVLQDOH�D�DOWHUQDWLYD�TXH�FRQWpP�D VHTXrQFLD�FRUUHWD�� BBBBBBBBB��p�UHFRQKHFLGR�FRPR�VHQGR��GH�IDWR��RV�UHFXUVRV�SUySULRV�GH�XPD�HPSUHVD� � BBBBBBBBB��p�RQGH�VmR�UHJLVWUDGDV�WRGDV�DV�REULJDo}HV�YHQFtYHLV�GHQWUR�GR�H[HUFtFLR�VRFLDO VHJXLQWH�j�GDWD�GR�%DODQoR�3DWULPRQLDO BBBBBBBBB��p�FRPSRVWR�SHODV�FRQWDV��5HDOL]iYHO�D�/RQJR�3UD]R��,QYHVWLPHQWRV��,PRELOL]DGR H�,QWDQJtYHO� (VWDPRV�IDODQGR�UHVSHFWLYDPHQWH�GDV�FRQWDV�GR� $ $WLYR�&LUFXODQWH��&DSLWDO�6RFLDO��3DVVLYR &LUFXODQWH % 3DWULP{QLR�/tTXLGR��3DVVLYR�&LUFXODQWH� $WLYR�QmR�&LUFXODQWH & $WLYR�&LUFXODQWH��3DWULP{QLR�/tTXLGR��3DVVLYR QmR�FLUFXODQWH� ' 3DVVLYR�&LUFXODQWH��&DSLWDO�6RFLDO��$WLYR�QmR &LUFXODQWH� 4XHVWmR���� 6HJXQGR�$EUHX���������³$�FRQWDELOLGDGH�HPSUHJD�PpWRGRV�FRPR�D�DYDOLDomR�GH LQYHVWLPHQWRV�H�D�FRQVROLGDomR�GH�GHPRQVWUDo}HV�FRQWiEHLV�SDUD�UHJLVWUDU�DV�SDUWLFLSDo}HV 9RFr�DFHUWRX� &RUUHWR�p� 3DWULP{QLR�/tTXLGR��3DVVLYR�&LUFXODQWH� $WLYR�QmR�&LUFXODQWH 6$325,72��$QWRQLR��$1È/,6(�( (6758785$�'$6�'(021675$d®(6 &217È%(,6��������S��������� ���������� $9$�81,9,5786 KWWS���XQLYLUWXV�����������VD�HDVW���HOE�DPD]RQDZV�FRP�DYD�ZHE���DYD�$YDOLDFDR8VXDULR+LVWRULFR�������QRYR�� ��� GH�HPSUHVDV�HP�RXWUDV�FRPSDQKLDV��´ $QDOLVH�DV�SURSRVLo}HV�PDUTXH��9��9HUGDGHLUD�H��)��)DOVD��HP�VHJXLGD�PDUTXH�D�VHTXrQFLD FRUUHWD� 6REUH�&RQWUROH�H�(PSUHVDV�FRQWURODGDV�H�FRQWURODGRUDV�p�FRUUHWR�DILUPDU�TXH� � �����2�FRQWURODGRU�QHFHVVDULDPHQWH�SUHFLVD�SRVVXLU�D�PDLRULD�GDV�Do}HV�GH�XPD�VRFLHGDGH SDUD�FRQWUROi�OD� ������6HJXQGR�D�OHJLVODomR��R�FRQWURODGRU�SRVVXL�GH�IRUPD�SHUPDQHQWH��RV�³GLUHLWRV�GH�VyFLR´ TXH�OKH�SHUPLWHP�WHU�D�SUHSRQGHUkQFLD�QDV�GHFLV}HV�RX�D�PDLRULD�GRV�YRWRV� ������6HJXQGR�D�OHJLVODomR��R�FRQWURODGRU�SRVVXL�GH�IRUPD�SHUPDQHQWH��RV�³GLUHLWRV�GH�VyFLR´ TXH�OKH�SHUPLWHP�HOHJHU�D�PDLRULD�GRV�DGPLQLVWUDGRUHV �����7RGDV�DV�Do}HV�QHFHVVDULDPHQWH��WHP�GLUHLWR�D�YRWR��H�HVVH�GLUHLWR�p�LQWUDQVIHUtYHO� � $ )�±�9�±�)�±�9 % 9�±�)�±�9�±�) & )�±�9�±�9�±�) 9RFr�DFHUWRX� 6mR�)DOVDV� ��2�FRQWURODGRU�QHFHVVDULDPHQWH�SUHFLVD SRVVXLU�D�PDLRULD�GDV�Do}HV�GH�XPD VRFLHGDGH�SDUD�FRQWUROi�OD���&RUUHWR�p��2 FRQWURODGRU�QmR�SUHFLVD�SRVVXLU�D�PDLRULD GDV�Do}HV�GH�XPD�VRFLHGDGH�SDUD FRQWUROi�OD� � ��7RGDV�DV�Do}HV�QHFHVVDULDPHQWH�WrP GLUHLWR�D�YRWR�H�HVVH�GLUHLWR�p�LQWUDQVIHUtYHO� &RUUHWR�p��([LVWHP�Do}HV�VHP�GLUHLWR�D YRWR�H�Ki�D�SRVVLEOLGDGH�GH�TXH�R�GLUHLWR�D YRWR�VHMD�WUDQVIHULGR�GR�SURSULHWiULR�GDV Do}HV�SDUD�RXWUDV�SHVVRDV�RX�HQWLGDGHV� $%5(8��$UL�)HUUHLUD��$TXLVLo}HV��H 5HHVWUXWXUDo}HV (PSUHVDULDLV��&XULWLED��,QWHUVDEHUHV� ������S������� ���������� $9$�81,9,5786 KWWS���XQLYLUWXV�����������VD�HDVW���HOE�DPD]RQDZV�FRP�DYD�ZHE���DYD�$YDOLDFDR8VXDULR+LVWRULFR�������QRYR�� ��� ' 9�±�)�±�)�±�9� 4XHVWmR���� �6HJXQGR�$EUHX���������³$�FRQWDELOLGDGH�HPSUHJD�PpWRGRV�FRPR�D�DYDOLDomR�GH LQYHVWLPHQWRV�H�D�FRQVROLGDomR�GH�GHPRQVWUDo}HV�FRQWiEHLV�SDUD�UHJLVWUDU�DV�SDUWLFLSDo}HV GH�HPSUHVDV�HP�RXWUDV�FRPSDQKLDV��´ $QDOLVH�DV�SURSRVLo}HV�H�PDUTXH�D�VHTXrQFLD�FRUUHWD� 6REUH�DV�SDUWLFLSDo}HV�HP�RXWUDV�VRFLHGDGHV�p�FRUUHWR�DILUPDU�TXH� ,�±�6mR�UHJLVWUDGDV�QD�FRQWD�,QYHVWLPHQWRV��UHODFLRQDGD�QR�$WLYR� ,,�±�(VVHV�LQYHVWLPHQWRV�VHUmR�FODVVLILFDGDV�QR�$WLYR�QmR�&LUFXODQWH��VDOYR�VH�IRUHP PDQWLGRV�SDUD�QHJRFLDomR� ,,,�±�2�UHJLVWUR�FRQWiELO�GHVVHV�LQYHVWLPHQWRV�SRGH�VHU�PHQVXUDGR�VRPHQWH�SHOR�0pWRGR�GH &XVWR� ,9�±�6mR�WUrV��DV�IRUPDV�GH�PHQVXUDomR�GHVVHV�LQYHVWLPHQWRV���SDUD�R�UHJLVWUR�FRQWiELO� 0pWRGR�GH�&XVWR��0pWRGR�GH�(TXLYDOrQFLD�3DWULPRQLDO�H�FRQVROLGDomR�GDV�GHPRQVWUDo}HV FRQWiEHLV� (VWmR�FRUUHWDV $ ,�±�,,�±�,9 % ,,�±�,,, & 9RFr�DFHUWRX� (VWi�HUUDGD ,,,�±�2�UHJLVWUR�FRQWiELO�GHVVHV LQYHVWLPHQWRV�SRGH�VHU�PHQVXUDGR VRPHQWH�SHOR�0pWRGR�GH�&XVWR�±�&RUUHWR�p 0pWRGR�GH�&XVWR��0pWRGR�GH�(TXLYDOrQFLD 3DWULPRQLDO�H�FRQVROLGDomR�GDV GHPRQVWUDo}HV�FRQWiEHLV� $%5(8��$UL�)HUUHLUD��$TXLVLo}HV��H 5HHVWUXWXUDo}HV (PSUHVDULDLV��&XULWLED��,QWHUVDEHUHV� ������S������� ���������� $9$�81,9,5786 KWWS���XQLYLUWXV�����������VD�HDVW���HOE�DPD]RQDZV�FRP�DYD�ZHE���DYD�$YDOLDFDR8VXDULR+LVWRULFR�������QRYR�� ��� ,�±�,9 ' ,�±�,,�±�,,, 4XHVWmR���� $OpP�GR�%DODQoR�3DWULPRQLDO�H�GD�'HPRQVWUDomR�GH�5HVXOWDGRV��QRUPDOPHQWH�VmR SXEOLFDGDV�WDPEpP�D�'HPRQVWUDomR�GDV�0XWDo}HV�GR�3DWULP{QLR�/tTXLGR�H�D�'HPRQVWUDomR GR�9DORU�$GLFLRQDGR��FRPR�IRUPD�GH��FRPSOHWDU�R�FRQMXQWR�GH�GHPRQVWUDo}HV�GH�HODERUDomR H�SXEOLFDo}HV�REULJDWyULDV� 5HODFLRQH�D���FROXQD�GH�DFRUGR�FRP�D���H�PDUTXH�D�VHTXrQFLD�FRUUHWD $ ��±���±���±�� % ��±���±���±�� & ��±���±���±�� 9RFr�DFHUWRX� '03/ 3HUPLWH�YLVXDOL]DU�UDSLGDPHQWH�VH�KRXYH DXPHQWR�GH�FDSLWDO�QR�SHUtRGR�H�VH�LVVR RFRUUHX�FRP�HQWUDGD�GH�QRYRV�UHFXUVRV SDUD�D�HPSUHVD��RX�VH�KRXYH DSURYHLWDPHQWR�GH�UHVHUYDV��Mi�FRQVWLWXtGDV H�LQFRUSRUDGDV�DR�3DWULP{QLR�/tTXLGR� 3HUPLWH�WDPEpP�YLVXDOL]DU�D�GHVWLQDomR�GR UHVXOWDGR�GR�SHUtRGR��GH�PRGR�D ���������� $9$�81,9,5786 KWWS���XQLYLUWXV�����������VD�HDVW���HOE�DPD]RQDZV�FRP�DYD�ZHE���DYD�$YDOLDFDR8VXDULR+LVWRULFR�������QRYR�� ��� ' ��±���±���±�� 4XHVWmR���� $�'HPRQVWUDomR�GH�)OX[R�GH�&DL[D�WRUQRX�VH�REULJDWyULD�D�SDUWLU�GH�������HP�GHFRUUrQFLD GD�/HL�Q��������GH�������������TXH�PRGLILFRX�D�/HL�������GH������������ &RQVLGHUH�DV�DVVHUWLYDV�DEDL[R�H�DSRQWH�TXDLV�VH�UHIHUHP�j�'HPRQVWUDomR�GRV�)OX[RV�GH &DL[D��')&��UHJXODPHQWDGD�SHOR�DUW������GD�/HL������������ ,�±��7HP�FRPR�IXQomR�PRVWUDU�DV�UD]}HV�GD�PRGLILFDomR�GR�VDOGR�GH�FDL[D�H�HTXLYDOHQWHV�GR LQtFLR�SDUD�R�ILP�GR�SHUtRGR�D�TXH�VH�UHIHUH� ,,�±�&RQWHPSOD�WUrV�UHODWyULRV�GLVWLQWRV�±�$WLYLGDGHV�2SHUDFLRQDLV��$WLYLGDGHV�GH )LQDQFLDPHQWRV�H�$WLYLGDGHV�GH�,QYHVWLPHQWRV� ,,,�±�5HYHOD�D�UHFHLWD�OtTXLGD�GDV�YHQGDV�H�VHUYLoRV���R�&XVWR�GDV�0HUFDGRULDV�H�6HUYLoRV 9HQGLGRV�H�R�/XFUR�%UXWR� ,9�±�$�'HPRQVWUDomR�GH�)OX[RV�GH�&DL[D�SRGH�VHU�HODERUDGD�SHORV�PpWRGRV�GLUHWRV�H LQGLUHWRV� (VWi�mR��FRUUHWD�V���VRPHQWH�DV�DILUPDWLYD�V�� $ �,�±�,,�±�,9 SRVVLELOLWDU�TXH�R�DQDOLVWD�FRPSUHHQGD�TXDO SDUWH�GHOH�IRL�UHDOPHQWH�LQFRUSRUDGR�DR 3DWULP{QLR�/tTXLGR� '9$ &RQFHEH�DV�HPSUHVDV�FRPR�RUJDQL]Do}HV TXH�EHQHILFLDP�D�VRFLHGDGH�FRPR�P�WRGR� H�QmR�DSHQDV�RV�DFLRQLVWDV�GDV�HPSUHVDV� 1mR�LQFOXL�VRPHQWH�D�WULEXWDomR�VREUH UHFHLWDV��PDV�WDPEpP�YDORUHV�DFUHVFLGRV DR�$WLYR��QD�KLSyWHVH�GH�LWHQV�TXH�QHOH FRQVWHP�WHUHP�VLGR�FRQVWUXtGRV�SHOD SUySULD�HPSUHVD� 6$325,72��$QWRQLR��$1È/,6(�( (6758785$�'$6�'(021675$d®(6 &217È%(,6��������FDStWXOR��� 9RFr�DFHUWRX� $�DILUPDWLYD�,,,�UHIHUH�VH�DR�'5(���DV GHPDLV�UHIHUHP�VH�DV�'HPRQVWUDo}HV�GH ���������� $9$�81,9,5786 KWWS���XQLYLUWXV�����������VD�HDVW���HOE�DPD]RQDZV�FRP�DYD�ZHE���DYD�$YDOLDFDR8VXDULR+LVWRULFR�������QRYR�� ��� % ,,,���,9 & ,,�±�,,,�±�,9 ' ,9�DSHQDV� )OX[RV�GH�&DL[D� 6$325,72��$QWRQLR��$1È/,6(�( (6758785$�'$6�'(021675$d®(6 &217È%(,6��������FDStWXOR�����S������H ����
Compartilhar