<SEC-DOCUMENT>0001104659-19-051701.txt : 20191030
<SEC-HEADER>0001104659-19-051701.hdr.sgml : 20191030
<ACCEPTANCE-DATETIME>20190927115447
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001104659-19-051701
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20190927

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEERE & CO
		CENTRAL INDEX KEY:			0000315189
		STANDARD INDUSTRIAL CLASSIFICATION:	FARM MACHINERY & EQUIPMENT [3523]
		IRS NUMBER:				362382580
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1103

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ONE JOHN DEERE PLACE
		CITY:			MOLINE
		STATE:			IL
		ZIP:			61265-8098
		BUSINESS PHONE:		(309) 765-8000

	MAIL ADDRESS:	
		STREET 1:		ONE JOHN DEERE PLACE
		CITY:			MOLINE
		STATE:			IL
		ZIP:			61265-8098
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Deere&nbsp;&amp;   Company</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Law   Department</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">One   John Deere Place, Moline,&nbsp;IL 61265 USA</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Phone:   309-765-5161</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Fax   (309) 749-0085 or (309) 765-5892</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Email:   DaviesToddE@JohnDeere.com</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:8.0pt;font-weight:bold;">Todd E. Davies</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Corporate   Secretary&nbsp;&amp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.0pt;">Associate   General Counsel</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">26 September&nbsp;2019</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Division of Corporation Finance<br> Securities and Exchange Commission<br> Washington, D.C. 20549</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Attention:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Cecilia   Blye</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Chief,   Office of Global Security Risk</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Subject:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Deere&nbsp;&amp;   Company Form&nbsp;10-K for the Fiscal Year Ended October&nbsp;28, 2018 Filed   December&nbsp;7, 2018</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Commission   File No.&nbsp;1-4121</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-1.0in;"><font size="2" face="Arial" style="font-size:11.0pt;">Dear Ms.&nbsp;Blye:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">On behalf of Deere&nbsp;&amp; Company, a Delaware corporation (&#147;Deere&#148; or the &#147;Company&#148;), set forth below are the Company&#146;s responses to the comments of the Division of Corporation Finance of the Securities and Exchange Commission, dated September&nbsp;9, 2019, pertaining to the Company&#146;s Form&nbsp;10-K for the fiscal year ended October&nbsp;28, 2018. The numbered paragraphs below set forth your letter&#146;s comments, followed by our responses to those comments.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-indent:-.5in;"><i><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">1.</font></i><font size="1" face="Arial" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">In your letter to us dated February&nbsp;1, 2016, you discussed contacts with Sudan. Wirtgen Group&#146;s website lists dealers in Sudan and Syria. Section&nbsp;9(1)(aa) of the May&nbsp;17, 2017 Share and Asset Purchase Agreement under which you acquired Wirtgen Group Holding GmbH, filed as Exhibit&nbsp;2.1 to your Form&nbsp;8-K dated June&nbsp;1, 2017, sets forth a representation that except as shown in Annex 9.2.1.aa, Wirtgen is not, and has not during the prior two years, engaged in any transactions in any Sanctioned Country, a term defined to include Syria, Sudan and North Korea. Because the filing does not include the annex, it is not clear whether Wirtgen engaged in transactions in one or more of the referenced countries during the period covered. Sudan, Syria, and North Korea are designated by the U.S. Department of State as state sponsors of terrorism, and are subject to U.S. economic sanctions and/or economic controls. Please describe to us the nature and extent of any past, current, and anticipated contacts with Sudan and Syria since your prior letter, and with North Korea since November&nbsp;2017, including contacts with their governments, whether through subsidiaries, distributors, affiliates, or other direct or indirect arrangements.</font></i></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">26 September&nbsp;2019</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Page </font><font face="Arial">2</font><a name="PB_2_193620_9341"></a></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Response: As disclosed in the Company&#146;s Annual Report on Form&nbsp;10-K for the fiscal year ended October&nbsp;28, 2018, the Company manufactures and distributes agricultural and turf equipment and construction and forestry equipment and has financial services operations that amounted to total net sales and revenues exceeding $37 billion in fiscal year 2018.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">The Company has no subsidiaries, employees, business operations, physical assets or liabilities in North Korea, Sudan, or Syria. Management has not authorized, and after reasonable inquiry, we are not aware of any direct or indirect business contacts with the governments of North Korea, Sudan, or Syria, </font><font size="2" face="Arial" style="font-size:11.0pt;">or with any companies located in North Korea. No distributor is authorized to distribute Deere-branded products in North Korea. </font><font size="2" face="Arial" style="font-size:11.0pt;">As described in our letter to you dated February&nbsp;1, 2016 (&#147;2016 Letter&#148;), no distributor is authorized to distribute Deere-branded products in Syria.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">The Company acquired the Wirtgen Group (&#147;Wirtgen&#148;) on December&nbsp;1, 2017. Wirtgen had sold equipment to purchasers in Syria before the acquisition. After the acquisition, two Wirtgen subsidiaries, Wirtgen GmbH and Joseph V&#246;gele Aktiengesellschaft, each incorporated in Germany, sold equipment to purchasers in Syria (the &#147;Wirtgen Sales&#148;). The Wirtgen Sales were made both directly to customers and through a third-party dealer. Since the acquisition, Wirtgen&#146;s compliance processes are designed to ensure that its transactions and activities in Syria do not involve U.S. persons, U.S. origin equipment or parts, U.S. based systems, U.S. incorporated legal entities, or the U.S. financial system. Wirtgen also screens its business partners to ensure it does not engage in transactions involving applicable sanctioned or restricted parties. Wirtgen&#146;s transactions and activities in Syria are therefore not prohibited by U.S. sanctions law and regulations.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">As described in the 2016 Letter, through the Company&#146;s 2018 fiscal year, the Company distributed agricultural and turf equipment and service parts in various countries throughout Europe, Africa, the Near and Middle East and the Commonwealth of Independent States through John Deere International GmbH (&#147;JDIN&#148;) (a company established under the laws of Switzerland) and other related non-U.S. companies. In fiscal year 2019, the Company began distributing agricultural and turf equipment and service parts in the same region through John Deere Walldorf GmbH&nbsp;&amp; Co. KG (a company established under the laws of Germany) and other related non-U.S. companies.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Also as described in the 2016 Letter, the Company and JDIN previously sold equipment to purchasers in Sudan as authorized by specific licenses issued by the Department of the Treasury, Office of Foreign Assets Control (&#147;OFAC&#148;). The Company continued to sell equipment to purchasers in Sudan as authorized by the OFAC licenses until the revocation of U.S. sanctions on Sudan as of October&nbsp;12, 2017 (the &#147;Revocation&#148;). A subsidiary acquired by the Company in 2016, Compagnie Commerciale Ribouleau S.A.S., incorporated in France, also sold equipment to purchasers in Sudan through a third party dealer before the Revocation.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">After the Revocation, the Company sold equipment to purchasers in Sudan through a third-party dealer as authorized by U.S. law. In addition, the Company&#146;s Italian subsidiary, Mazzotti S.r.l., and French subsidiary, Compagnie Commerciale Ribouleau S.A.S., sold</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">26 September&nbsp;2019</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Page </font><font face="Arial">3</font><a name="PB_3_194053_7056"></a></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">equipment to purchasers in Sudan through third party dealers, and Wirtgen GmbH and Joseph V&#246;gele Aktiengesellschaft sold equipment to purchasers in Sudan both directly to customers and through a third party dealer.&#160; The Company and its subsidiaries comply with applicable U.S. export control restrictions resulting from Sudan&#146;s designation as a state sponsor of terrorism, and the Company and its subsidiaries screen business partners to prevent transactions involving applicable sanctioned or restricted parties.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;text-indent:-.5in;"><i><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">2.</font></i><font size="1" face="Arial" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">Please discuss the materiality of any such contacts with Sudan, Syria and North Korea, in quantitative terms and in terms of qualitative factors that a reasonable investor would deem important in making an investment decision. Tell us the approximate dollar amounts of revenues, assets and liabilities associated with Sudan and Syria for the last three fiscal years, and with North Korea for the last two fiscal years, and the subsequent interim period. Address for us the potential impact of the investor sentiment evidenced by divestment and similar initiatives that have been directed toward companies that have operations associated with state sponsors of terrorism.</font></i></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Response: The Company&#146;s response to Comment 1 above is incorporated in its entirety into this response to Comment 2. With the exception of the Wirtgen Sales described in response to Comment 1, the Company and its consolidated subsidiaries have had no sales or revenues associated with Syria or North Korea since February&nbsp;1, 2016. The Wirtgen Sales since the acquisition through the fiscal year ending October&nbsp;28, 2018 was an aggregate amount of approximately $954,000</font><font size="1" face="Arial" style="font-size:5.5pt;position:relative;top:-5.0pt;">1</font><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;and approximately $4,000</font><font size="1" face="Arial" style="font-size:5.5pt;position:relative;top:-5.0pt;">2</font><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;for the interim period.&#160; These Wirtgen Sales are not quantitatively material.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">The Company and its consolidated subsidiaries have had limited sales of equipment to purchasers in Sudan since February&nbsp;1, 2016, as described in response to Comment 1. The Company&#146;s sales in Sudan for the last three fiscal years ending October&nbsp;28, 2018 was an aggregate amount of approximately $17.2 million</font><font size="1" face="Arial" style="font-size:5.5pt;position:relative;top:-5.0pt;">3</font><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;and approximately $7.5 million</font><font size="1" face="Arial" style="font-size:5.5pt;position:relative;top:-5.0pt;">4</font><font size="2" face="Arial" style="font-size:11.0pt;">&#160;for the interim period.&#160; This includes sales through Wirtgen after the acquisition.&#160; These Company sales are not quantitatively material.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">We have also considered the qualitative factors that reasonable investors might consider important when making investment decisions, including the potential impact of corporate activities upon the Company&#146;s reputation and share value. The Company&#146;s sales in Sudan in 2016 and 2017 were made pursuant to valid OFAC licenses, in accordance with U.S. law. Thereafter, the Company&#146;s sales in Sudan were made after the revocation of U.S. sanctions in Sudan, again in accordance with U.S. law. The Wirtgen Sales in Syria are not prohibited by U.S. sanctions law and regulations, and Wirtgen screens its business partners to ensure it does not engage in transactions involving applicable sanctioned or restricted parties. The Company has no subsidiaries, employees, business operations, physical assets or liabilities in North Korea, Sudan, or Syria. Given these facts and circumstances, we believe that the</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:4.5pt;position:relative;top:-4.0pt;">1</font><font size="1" face="Arial" style="font-size:9.0pt;">&#160;</font><font size="1" face="Arial" style="font-size:9.0pt;">Calculated using the 2018 annual average foreign exchange rate.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:4.5pt;position:relative;top:-4.0pt;">2</font><font size="1" face="Arial" style="font-size:9.0pt;">&#160;</font><font size="1" face="Arial" style="font-size:9.0pt;">Calculated using the August&nbsp;2019 year-to-date foreign exchange rate.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:4.5pt;position:relative;top:-4.0pt;">3</font><font size="1" face="Arial" style="font-size:9.0pt;">&#160;</font><font size="1" face="Arial" style="font-size:9.0pt;">Calculated using the 2016 to 2018 annual average foreign exchange rates.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:4.5pt;position:relative;top:-4.0pt;">4</font><font size="1" face="Arial" style="font-size:9.0pt;">&#160;</font><font size="1" face="Arial" style="font-size:9.0pt;">Calculated using the August&nbsp;2019 year-to-date foreign exchange rate.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">26 September&nbsp;2019</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Page </font><font face="Arial">4</font><a name="PB_4_194126_5335"></a></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">limited Wirtgen Sales through non-U.S. subsidiaries and limited sales by the Company in Sudan would not have a material impact on investor sentiment, the Company&#146;s reputation or share value.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">We have prepared these responses based upon current knowledge and information following review of our business operations. Should you have any questions or comments concerning this response to your comment letter, please contact me at (309) 765-5161.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Sincerely,</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><i><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">/s/ Todd E. Davies</font></i></p>    </td>
<td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Todd E. Davies</font></p>    </td>
<td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Corporate Secretary</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
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