,QVWDOODWLRQGHODVRXUFHG DOLPHQWDWLRQ
/DVRXUFHG DOLPHQWDWLRQGRLWVHUYLUH[FOXVLYHPHQWDXFOLPDWLVHXU3OXVGH$
'DQV OH FDV GH O LQVWDOODWLRQ G XQ FOLPDWLVHXU GDQV XQ HQGURLW KXPLGH YHXLOOH] LQVWDOOHU XQ LQWHUUXSWHXUGLIIpUHQWLHO 3RXUO LQVWDOODWLRQGDQVG DXWUHVHQGURLWVXWLOLVH]DXWDQWTXHSRVVLEOHXQFRXSHFLUFXLW
&RXSHUHWpYDVHUODWX\DXWHULH
/DGpFRXSHGHVWXEHVV HIIHFWXHDYHFXQFRXSHWXEHHWHQHQOHYDQWOHVEDYXUHV $SUqVLQVHUWLRQGHO pFURXpYDVpOHWUDYDLOG pYDVHPHQWHVWUpDOLVp
| $ |
2XWLOODJHG pYDVHPHQW |
&RXSH]OHWXEH eEDYXUH]
| 2XWLO | 2XWLOG pYDVHPHQWFRQYHQWLRQQHO | |
| G pYDVHPHQW | ||
| SRXU5$ |
|
|
| 7\SHGH | 7\SHGH | 7\SHpFURXjDLOHWWHV |
| FRXSODJH | FRXSODJH7\SH | 7\SHLPSpULDO |
|
| ULJLGH |
|
$ | aPP | aPP | aPP |
,QVpUH]O pFURXpYDVp
eYDVH]OHWXEH
6XUGUDLQDJH
&RUUHFW | ,QFRUUHFW |
0DLJUH eYDVHPHQWHQGRPPDJp )LVVXUH 3DUWLHO 7URSH[WpULHXU
9HXLOOH]LQVWDOOHUOHWX\DXGHGUDLQDJHGHVRUWHTX LODLWXQHSHQWHYHUVOHEDV
9HXLOOH]QHSDVHIIHFWXHUOHGUDLQDJHFRPPHLQGLTXpFLGHVVRXV
0RLQVGHFP |
,O DUULYH WURS KDXW j | / H[WUpPLWp | HVW | /H MHX DYHF OH VRO HVW | ,O \ D XQH PDXYDLVH |
| ,ORQGXOH | |||
PLORQJXHXU | LPPHUJpHGDQVO HDX | WURSIDLEOH | RGHXUG pJRXW |
9HXLOOH]YHUVHUGHO HDXGDQVOHUpFLSLHQWGHGUDLQDJHGHO XQLWpLQWpULHXUHHWFRQILUPHUTXHOHGUDLQDJH HVWHIIHFWXpGHIDoRQVUHjO H[WpULHXU
'DQV OH FDV R OH WX\DX GH GUDLQDJH VHUDLW GDQV XQH SLqFH YHXLOOH] OXL DSSOLTXHU XQH LVRODWLRQ FDORULILTXHVDQVIDXWH
9pULILFDWLRQGHO LQVWDOODWLRQHVWHVVDLGHWHVW
9HXLOOH]H[SOLTXHUjQRVFOLHQWVFRPPHQWSURFpGHUYLDOHPDQXHOG LQVWUXFWLRQV
9pULILH]OHVpOpPHQWVSRXUO HVVDLGHWHVW
)XLWH GH JD] DX QLYHDX GX UDFFRUG
GHWXEH"
,VRODWLRQ FDORULILTXH GX UDFFRUG GH
WXEH"
/HV FkEODJHV GH FRQQH[LRQ GHV
XQLWpV LQWpULHXUH HW H[WpULHXUH VRQW
IHUPHPHQWLQVpUpVGDQVOHERUQLHU"
/HV FkEODJHV GH FRQQH[LRQ GHV
XQLWpV LQWpULHXUH HW H[WpULHXUH VRQW
IHUPHPHQWIL[pV"
&RFKH]OHVFDVHVG XQHPDUTXH¥
/H GUDLQDJH HVWLO IDLW GH IDoRQ VUH"
/D OLJQH GH WHUUH HVWHOOH EUDQFKpH GHIDoRQVUH"
/ XQLWp LQWpULHXUH HVWHOOH IL[pH IHUPHPHQW"
/D WHQVLRQ GH OD VRXUFH G DOLPHQWDWLRQ HVWHOOH PDLQWHQXH SDUOHFRGH"
<DWLOGXEUXLW"
/H WpPRLQ G DOOXPH W LO
QRUPDOHPHQW"
/H UHIURLGLVVHPHQW HW OH FKDXIIDJH HQ PRGH SRPSH j FKDOHXU
V HIIHFWXHQWLOVQRUPDOHPHQW"
/HIRQFWLRQQHPHQWGXWKHUPRVWDWGH
ODSLqFHHVWLOQRUPDO"
32