1033 2016 10 25 12 6 A H H A A H 183 17M H 24 A H 2016 9 26
... ii... 1... 5 I.... 5 II. H... 12 III.... 13... I-1... II-1 A... III-1 A... IV-1 i
ii
A A A 2016 10 25 12 6 2016 A A 1.00 A A H A H 2016 10 25 12 6 2016 1
EOE EBITDA EBITDA H H H 2016 10 25 A 12 6 2016 H H 1.00 H 2
2016 9 23 A 2016 3 29 A 2016 5 31 5,085 3
2016 7 13 126 A A 1.00 A H A H A 5 % 4
1033 22 1 26 2016 9 26 I. 2016 3 29 2016 8 30 5
1. 2. 5% 6
A H A H 5,085 14,142,660,995 0.36% A 12,042,660,995 0.42% 17.03(3) (1) 2 9 7
1. 2. 2016 5 31 7 i. 2016 3 30 1 A 4.84 ii. 2016 3 30 20 60 120 A 5.30 5.57 7.38 iii 4.43 2013 8 6.64 2013 11 6.64 4.43 8
5.63 A A A 14 17 A 9
17.03(9) 1 (i) (ii) 5 (i) A (ii) 20 60 120 A 17.03(9) 1 8 A A H H 2016 9 7 2016 9 7 H 10
(1) (2) (3) (4) (5) (6) (7) A 11
(8) (9) 23 9 17.07 II. H 2016 10 25 12 6 A H H H 1 4 12
H H 183 17M H 24 A A 13.39(4) A 13.39(5) III. A H 2016 9 26 13
A H 1. 2. 1. 2. 5% 495 0.63% I-1
3. A H A 4. 10 2 14,142,660,995 10% A 12,042,660,995 10% 5,085 14,142,660,995 0.36% A 12,042,660,995 0.42% 5. A 1% 12 1% 40% I-2
6. 1. 30 2 30 2. 10 2 3. 2 4. 60 30 5. (1) (2) I-3
6. 2 1. (1) (2) (3) 36 (4) (5) 2. (1) 12 (2) 12 (3) 12 (4) (5) (6) I-4
7. 1. EOE EBITDA 2. 3. (EVA) (EBITDA) (1) 2015 4.6 (2) 2015 EOE 28% (1) (2) 50 (3) I-5
2017 EOE 32% 2017 6% 2015 75 2017 EVA 2018 EOE 32% 2018 6% 2015 75 2018 EVA 2019 EOE 32% 2019 6% 2015 75 2019 EVA I-6
(1) (2) (3) (2) (3) 8. 5.63 i. 2016 3 30 1 A 4.84 ii. 2016 3 30 20 60 120 A 5.30 5.57 7.38 iii. 4.43 2013 8 6.64 2013 11 I-7
6.64 4.43 A i. 1 A ii. 20 60 120 A I-8
9. 10 2 2 3 30% 30% 40% 24 36 36 48 48 60 30% 30% 40% 20% I-9
2 2 2 10 i. 3 2 ii. 2 iii. 2 iv. 60 30 10. I-10
(1) (2) (3) 36 (4) (5) 12 1. (1) 12 (2) 12 I-11
(3) 12 (4) (5) (6) (4) 2. (1) (2) (3) 3. (1) (2) I-12
(3) (4) (5) 4. 11. 12. 13. A i. 25% I-13
ii. 6 6 iii. 14. Q Q 0 1 n Q 0 n Q Q Q 0 P 1 1 n P 1 P 2 n) Q 0 P 1 P 2 n Q Q Q 0 n I-14
Q 0 n 1 n Q P P 0 1 n P 0 n P P P 0 P 1 P 2 n) [(P 1 1 n ] P 0 P 1 P 2 n P P P 0 n P 0 n P P P 0 -V P 0 V P I-15
17.03(13) 17.03(13) 17.03(13) 15. (1) (2) (1) (2) I-16
(i) (ii) 17.03 (iii) (iv) (3) (4) I-17
16. 17. (1) (2) I-18
A 1. 5,085 14,142,660,995 0.36% A 12,042,660,995 0.42% 2. 495 0.63% 21 0.41% 0.0014% 21 0.41% 0.0014% 19 0.37% 0.0013% 19 0.37% 0.0013% 19 0.37% 0.0013% 19 0.37% 0.0013% 18 0.35% 0.0013% 18 0.35% 0.0013% 18 0.35% 0.0013% 14 0.28% 0.0009% 10 186 3.63% 0.0132% 485 4899 96.37% 0.3464% 495 5085 100% 0.3596% II-1
3. 4. 5.63 i. 2016 3 30 1 A 4.84 ii. 2016 3 30 20 60 120 A 5.30 5.57 7.38 iii. 4.43 2013 8 6.64 2013 11 6.64 4.43 A II-2
5. (1) 2015 4.6 (2) 2015 EOE 28% (1) (2) 50 (3) 2017 EOE 32% 2017 6% 2015 75 2017 EVA 2018 EOE 32% 2018 6% 2015 75 2018 EVA 2019 EOE 32% 2019 6% 2015 75 2019 EVA II-3
6. 2 3 30% 30% 40% 24 36 36 48 48 60 30% 30% 40% II-4
7. (Black-Scholes) 0.85 1.07 1.27 A 21.7% 27.4% 32.5% 5.63 (1) 2016 3 30 1 A 4.84 (2) 2016 3 30 20 60 120 A 5.30 5.57 7.38 (3) 4.43 3.91 A 3 4 5 46.18% A 240 0 0 2.4211% 2.4987% 2.5639% II-5
A 0.85 1.07 1.27 21.7% 27.4% 32.5% 55.0167 Black-Scholes a. b. 240 c. (i) 2016 3 30 1 A 4.84 (ii) 2016 3 30 20 60 120 A 5.30 5.57 7.38 (iii) 4.43 5.63 d. II-6
A A A 1. 2. 3. 1. A 2. III-1
A 3. 4. 5. 1. 2. 3. 4. III-2
A 1. 2. 3. A 4. 5. 6. 7. III-3
A 8. 10 9. 6 10. III-4
A 1. 2. 3. 4. 5. 6. 7. III-5
A 8. 9. 10. III-6
A 1 (a) (A) 1.0 (B) 1.0 (C) 0 2 III-7
A 30 30 2016 8 30 III-8
A A 1. 2. 3. 1. IV-1
A 2. 3. 1. 2. 3. 4. 1. 2. 3. IV-2
A 4. 1. EOE EVA 2. 3. 4. IV-3
A 1.0 0 2016 3 29 IV-4