3/$1�'(�)250$&,Ð1�'(/�*5$'2�'(�0$*,67(5,2�<�

5(/$&,Ð1�&21�/$6�&203(7(1&,$6�352)(6,21$/(6

3UR\HFWR�GH�LQYHVWLJDFLyQ

3UREOHPD�

����

2EMHWLYR

���$YHULJXDU�VL�OD�IRUPDFLyQ�TXH�VH�GD�D�ORV� DOXPQRV� GH� PDJLVWHULR� HQ� OD�8QLYHUVLGDG�GH�&DQWDEULD�VH�DMXVWD�D�ODV� FRPSHWHQFLDV� SURIHVLRQDOHV� TXH�VH�UHTXLHUHQ�HQ�OD�SUiFWLFD�GRFHQWH�

3UHJXQWDV�GH�OD�LQYHVWLJDFLyQ

ƒ �� <�N<EkYj<G�GI�IGkE<EQ_[�GI�Y<�1[QpIghQG<G�GI� <[j<DgQ<�dgId<g<�<�hkh�<YkZ[]h�d<g<�Y<�Nkjkg<�dg>EjQE<�G]EI[jI�

ƒ � k>Y�Ih�IY�[QpIY�GI�h<jQhN<EEQ_[�GI�Y]h�<YkZ[]h�GI�Z<OQhjIgQ]�E][�gIhdIEj]�<Y�dY<[�GI�IhjkGQ]h�<Ejk<Y�

ƒ � k>Y�Ih�Y<�]dQ[Q_[�fkI�jQI[I[�Y]h�G]EI[jIh�I[�dg>EjQE<�GI�E]YIOQ]h�GI� <[j<DgQ<� h]DgI� Y<� N]gZ<EQ_[� fkI� hI� YIh� G<� <� Y]h� <YkZ[]h� GI�Z<OQhjIgQ]��� ]ggIhd][GI�E][�Y]�[IEIh<gQ]�d<g<�Y<�dg>EjQE<�gI<Y�

3UHJXQWDV�GH�OD�LQYHVWLJDFLyQƒ � k>YIh�h][�Y]h�E][jI[QG]h�fkI�hI�QZd<gjI[���9�Y<h�P<DQYQG<GIh�fkI�hI�I[hI\<[���/][�Y<h�QG_[I<h�d<g<�<hIOkg<g�Y<�<GfkQhQEQ_[�GI�Y<h�E]ZdIjI[EQ<h�[IEIh<gQ<h�d<g<�jg<D<W<g�I[�k[�<kY<�

ƒ � <�ZIj]G]Y]OS<� kjQYQv<G<� d]g� IY� dg]NIh]g<G]� GI� Y<� 1 � Ih� Y<�<GIEk<G<�� hIOm[� Y]h� <YkZ[]h� GI�Z<OQhjIgQ]�� � k>YIh� h][� hkh�GINQEQI[EQ<h�

ƒ � k>YIh�h][�Y<h�Q[hkNQEQI[EQ<h�GIY�dY<[�GI�IhjkGQ]h�<Ejk<Y���/I�d]GgS<[�Q[jg]GkEQg�ZIW]g<h�

0XHVWUD��$OXPQRV

0XHVWUD��$OXPQRV

0XHVWUD��3URIHVRUHV

5HVXOWDGRV�REWHQLGRV

(QFXHVWD�DOXPQRV�8&

� gIIh�fkI�Y<�N<EkYj<G�GI�IGkE<EQ_[�GI�Y<�1 �dgId<g<�d<g<�Y<�Nkjkg<�dg>EjQE<�G]EI[jI�

� k>Y�Ih�jk�[QpIY�GI�h<jQhN<EEQ_[�E][�gIhdIEj]�<Y�dY<[�GI�IhjkGQ]h�

� gIIh�fkI�Y]h�E][jI[QG]h�fkI�hI�QZd<gjI[�E][jgQDksI[�<�Y]Og<g�k[<�DkI[<�

dg>EjQE<�G]EI[jI�

� gIIh�fkI�Y<�ZIj]G]Y]OS<�kh<G<�d]g�IY�dg]NIh]g<G]�GI�Y<�1 �Ih�Y<�<GIEk<G<�

� k>YIh�EgIIh�fkI�h][�Y<h�Q[hkNQEQI[EQ<h�GIY�dY<[�GI�IhjkGQ]h�<Ejk<Y�

�-kK�<hdIEj]h�GIY�dY<[�GI�IhjkGQ]h�EgIIh�fkI�hI�GIDIgS<[�Z<[jI[Ig�

5HVXOWDGRV�REWHQLGRV

(1&8(67$�$�352)(625(6�

� k>Y�Ih�jk�]dQ[Q_[�h]DgI�Y<�N]gZ<EQ_[�fkI�hI�YIh�G<�<�Y]h�<YkZ[]h�GI�Z<OQhjIgQ]�

¢&XiOHV�FUHHV�TXH�VRQ�ORV�SXQWRV�GpELOHV�GHO�SODQ�GH�HVWXGLRV"

䙘 ��<Yj<�GI�E][IrQ_[�E][�Y<�gI<YQG<G�h]EQ<Y�s�GIY�<kY<�

¢&XiOHV�FUHHV�TXH�VRQ�ORV�SXQWRV�GpELOHV�GHO�SODQ�GH�HVWXGLRV"

䙘 ³&RQWHQLGRV�SRFR�SUiFWLFRV�SDUD�HO�GtD�D�GtD´

¢&XiOHV�FUHHV�TXH�VRQ�ORV�SXQWRV�GpELOHV�GHO�SODQ�GH�HVWXGLRV"

䙘 ³0DOD�JHVWLyQ��RUJDQL]DFLyQ�\�VRODSDPLHQWR´

¢&XiOHV�FUHHV�TXH�VRQ�ORV�SXQWRV�GpELOHV�GHO�SODQ�GH�HVWXGLRV"

䙘 ³'HPDVLDGD�WHRUtD��GHVIDVDGD�HQ�DOJXQRV�FDVRV´

� k>YIh� EgIIh� fkI� h][� Y<h� P<DQYQG<GIh� fkI�dIgZQjI[� GIhIZdI\<g� k[<� DkI[<� dg>EjQE<�G]EI[jI�

!$0�6� �&"������������10$�$.!� �&"�����/�1�.;$

+� ��" ������� �+� �����+����&�� ��������/�.0�6����

�+.�"��;���� $$+�.�0�6$��������� �����/�/$ �� �/

������������������������� .��0�6�����������������������������6$ � �&"������

� gIIh�fkI�Ih<h�P<DQYQG<GIh�hI�I[hI\<[�I[�Y<�E<ggIg<�GI�Z<OQhjIgQ]�

�<W]�jk�IrdIgQI[EQ<�dIgh][<Y���E_Z]�E<YQNQE<gS<h�Y<�N]gZ<EQ_[�gIEQDQG<�

��_[GI�E][hQGIg<h�fkI�P<h�<dgI[GQG]�Z>h��Gkg<[jI�jk�N]gZ<EQ_[�k[QpIghQj<gQ<�]�I[�Y<�dg]dQ<�dg>EjQE<�G]EI[jI�

� _Z]�EgIIh�fkI�hI�ZIW]g<gS<�Y<�N]gZ<EQ_[�k[QpIghQj<gQ<�GI�Z<OQhjIgQ]�

��&21&/86,21(6

����������+.$+1�/0�/����!��$.��

䙘 �hQO[<jkg<h�Z>h�dg>EjQE<h�s�mjQYIh�� $"� 0���/� $"� ��.�� ������� ��1 ��

����������+.$+1�/0�/����!��$.��

䙘 ]PIgI[EQ<�I[jgI�Y]�fkI�hI�GQEI�s�Y]�fkI�hI�P<EI

����������+.$+1�/0�/����!��$.��

䙘 �hQO[<jkg<h�OI[Ig<YIh�d<g<�j]G]�IY�<YkZ[<G]��E]Z]�

����������+.$+1�/0�/����!��$.��

䙘 ��/�/0�" ���$� ���0$.���

³/D�JHQWH�FRQ�SRFRV�UHFXUVRV�TXH�VH�YH�REOLJDGD�D�WUDEDMDU�

WDPELpQ�WLHQH�GHUHFKR�D�HVWXGLDU´

����������+.$+1�/0�/����!��$.��

䙘 �<EQYQj<g�gIEkgh]h�d<g<�<YE<[v<g�Y<�E<d<EQj<EQ_[�YQ[OoShjQE<�

����������+.$+1�/0�/����!��$.��+$.�+�.0���� �� 1!"��$�