FRQFHUQH H[FOXVLYHPHQW OHV PLQHXUV HW QH SHXW H[FpGHU XQH DQQpH (OOH SHXW rWUH
UHQRXYHOpH
3URFpGXUH
8QH GHPDQGH pFULWH GHV GpWHQWHXUV GH O¶DXWRULWp SDUHQWDOH HVW UpGLJpH SRXU EpQpILFLHU
G¶XQ DFFXHLO SURYLVRLUH 8QH pYDOXDWLRQ GH OD VLWXDWLRQ HVW UpDOLVpH SDU XQ WUDYDLOOHXU VRFLDO
HW IDLW O¶REMHW G¶XQ UDSSRUW VRFLDO TXL IRUPXOH GHV SUpFRQLVDWLRQV FRQFHUQDQW OHV PHVXUHV
HW OH SODQ G¶DLGH j PHWWUH HQ °XYUH
/H GRVVLHU FRPSOHW HVW VRXPLV j OD &&$ SRXU GpFLVLRQ (Q FDV G¶XUJHQFH OD GpFLVLRQ HVW
SULVH SDU GpOpJDWLRQ GX 3UpVLGHQW GX &RQVHLO GpSDUWHPHQWDO SDU OD 'LUHFWULFH GH OD
SUpYHQWLRQ SURWHFWLRQ GH O¶HQIDQFH RX VRQ UHSUpVHQWDQW
8QH SURSRVLWLRQ G¶XQ OLHX GH SODFHPHQW HVW IRUPXOpH SDU O¶LQVWDQFH GpSDUWHPHQWDOH
G¶RULHQWDWLRQ
8QH QRWLILFDWLRQ GH GpFLVLRQ HVW DGUHVVpH DX[ GpWHQWHXUV GH O¶DXWRULWp SDUHQWDOH 8QH
FRQWULEXWLRQ DX[ IUDLV GH SODFHPHQW HVW GpFLGpH VHORQ XQ EDUqPH GpWHUPLQp SDU
GpOLEpUDWLRQ
/D 0'' HVW VROOLFLWpH SRXU pWDEOLU OH FRQWUDW G¶$3 HW UHFXHLOOLU O¶DFFRUG GHV GpWHQWHXUV GH
O¶DXWRULWp SDUHQWDOH VXU OH FKRL[ GX OLHX GH SODFHPHQW 8Q UpIpUHQW pGXFDWLI HVW GpVLJQp
SRXU DFFRPSDJQHU OD PHVXUH
'DQV OH FDGUH GH O¶H[HUFLFH G¶XQH PHVXUH G¶$(02 XQ $3 SHXW rWUH VROOLFLWp VHORQ OHV
PrPHV PRGDOLWpV DSUqV DFFRUG GX 0DJLVWUDW SRXU XQH VLWXDWLRQ LPSUpYLVLEOH TXL Q¶HVW SDV
HQ OLHQ DYHF OH ULVTXH RX OH GDQJHU HW SRXU XQH GXUpH PD[LPDOH GH PRLV
$57,&/( $FFXHLO LPPpGLDW
$UWLFOH /
DOLQpD j GX &$6)
1DWXUH
/¶DGPLVVLRQ j O $6( SHXW rWUH GpFLGpH VDQV O¶DFFRUG GHV GpWHQWHXUV GH O¶DXWRULWp SDUHQWDOH
GDQV WURLV W\SHV GH VLWXDWLRQV GH ULVTXH GH GDQJHU RX GH GDQJHU
OH UHSUpVHQWDQW OpJDO HVW GDQV O¶LPSRVVLELOLWp GH GRQQHU VRQ DFFRUG
OH SDUHQW UHIXVH WRXWH FRRSpUDWLRQ DYHF OH VHUYLFH
OH PLQHXU HVW HQ IXJXH GX GRPLFLOH IDPLOLDO RX VDQV GpWHQWHXU GH O¶DXWRULWp
SDUHQWDOH VXU OH WHUULWRLUH IUDQoDLV
,O V¶DJLW G¶XQ DFFXHLO LPPpGLDW SRXU XQH GXUpH PD[LPDOH GH KHXUHV SRXU OHV GHX[
SUHPLHUV FDV HW GH FLQT MRXUV SRXU OH GHUQLHU FDV
/H 3URFXUHXU HVW LQIRUPp GH OD VLWXDWLRQ GqV VRQ DGPLVVLRQ j O¶$6(
6L DX WHUPH GH FH GpODL OH UHWRXU GX PLQHXU GDQV VD IDPLOOH Q¶D SX rWUH RUJDQLVp XQH
SURFpGXUH G $3 RX OD VDLVLQH GH O¶DXWRULWp MXGLFLDLUH HVW HQJDJpH
$57,&/( $FFRPSDJQHPHQW MHXQH PDMHXU
$UWLFOHV /
/
qPH DOLQpD /
/
/
/
GX &$6)
'pOLEpUDWLRQ GX RFWREUH
UHODWLYH j OD PRGLILFDWLRQ GX 5'$6
3XEOLF
7RXW MHXQH GH SOXV GH DQV j DQV \ FRPSULV OHV PLQHXUV pPDQFLSpV SUpVHQWDQW GHV
GLIILFXOWpV G¶LQVHUWLRQ VRFLDOH HW SURIHVVLRQQHOOH VROOLFLWDQW XQ DFFRPSDJQHPHQW GDQV OH
GpSDUWHPHQW
