<SEC-DOCUMENT>0001193125-14-332144.txt : 20140904
<SEC-HEADER>0001193125-14-332144.hdr.sgml : 20140904
<ACCEPTANCE-DATETIME>20140904161932
ACCESSION NUMBER:		0001193125-14-332144
CONFORMED SUBMISSION TYPE:	424B7
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20140904
DATE AS OF CHANGE:		20140904

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Michael Kors Holdings Ltd
		CENTRAL INDEX KEY:			0001530721
		STANDARD INDUSTRIAL CLASSIFICATION:	LEATHER & LEATHER PRODUCTS [3100]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		424B7
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-198571
		FILM NUMBER:		141083431

	BUSINESS ADDRESS:	
		STREET 1:		UNIT 1902, 19/F, TOWER 6, THE GATEWAY
		STREET 2:		HARBOUR CITY
		CITY:			TSIM SHA TSUI, KOWLOON
		STATE:			K3
		ZIP:			00000
		BUSINESS PHONE:		(852) 2371-8634

	MAIL ADDRESS:	
		STREET 1:		UNIT 1902, 19/F, TOWER 6, THE GATEWAY
		STREET 2:		HARBOUR CITY
		CITY:			TSIM SHA TSUI, KOWLOON
		STATE:			K3
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B7
<SEQUENCE>1
<FILENAME>d770808d424b7.htm
<DESCRIPTION>PRELIMINARY PROSPECTUS SUPPLEMENT
<TEXT>
<HTML><HEAD>
<TITLE>Preliminary Prospectus Supplement</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Filed Pursuant
to Rule 424(b)(7)<BR>Registration No. 333-198571<BR><BR> </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="justify"><FONT STYLE="font-family:Arial Narrow" SIZE="2" COLOR="#de1a1e"><B>This preliminary prospectus supplement relates to
an effective registration statement under the Securities Act of 1933, but is not complete and may be changed. This preliminary prospectus supplement and the accompanying prospectus are not an offer to sell these securities and are not soliciting an
offer to buy these securities in any jurisdiction where the offer or sale is not permitted. </B></FONT></P> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2" COLOR="#de1a1e"><B>SUBJECT TO COMPLETION, DATED SEPTEMBER 4, 2014. </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="3"><B>Preliminary Prospectus Supplement </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>(to the Prospectus dated September 4, 2014)
</B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>11,629,627 Ordinary Shares </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center">


<IMG SRC="g770808g21x10.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>Michael Kors Holdings Limited </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The selling shareholder identified in this prospectus supplement is offering all of the ordinary shares under this prospectus supplement. We will not receive any proceeds from the sale of ordinary shares
by the selling shareholder. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our ordinary shares are listed on the New York Stock Exchange (the &#147;NYSE&#148;) under the symbol
&#147;KORS.&#148; On September&nbsp;3, 2014, the closing price for our ordinary shares on the NYSE was $78.73 per ordinary share. </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>Investing in our ordinary
shares involves risks. See &#147;<A HREF="#suppcov486189_">Risk Factors</A>&#148; beginning on page <FONT STYLE="white-space:nowrap">S-3</FONT> of this prospectus supplement and page&nbsp;2 of the accompanying prospectus to read about factors you
should consider before buying our ordinary shares. You should also consider the risk factors described in the documents incorporated by reference in this prospectus supplement and the accompanying prospectus. </B></FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Price&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Per Ordinary
Share</FONT></P></TD></TR>
</TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="61%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B><I>Price&nbsp;to&nbsp;Public</I></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B><I>Underwriting<BR>Discounts&nbsp;and<BR>Commissions(1)</I></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B><I>Proceeds,&nbsp;before<BR>Expenses, to<BR>Selling<BR>Shareholder</I></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Per Ordinary Share</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Total</I></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">The underwriter will receive compensation in addition to the underwriting discounts and commissions. See &#147;Underwriting.&#148; </FONT></TD></TR></TABLE>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Neither the Securities and Exchange Commission (the &#147;SEC&#148;) nor any state securities commission has approved or disapproved of these
securities or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The
underwriter expects to deliver the ordinary shares against payment in New York, New York on or about September&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2014. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="5"><B>J.P.&nbsp;Morgan </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">The date of this prospectus supplement is September
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2014. </FONT></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc"></A>TABLE OF CONTENTS </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="94%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR>
<TD VALIGN="top" COLSPAN="4" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Prospectus Supplement</B></FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Page</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#supprom770808_1">About this Prospectus Supplement</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-i</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#supprom770808_2">Summary</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#supprom770808_3">Risk Factors</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#supprom770808_3a">Market Price of Our Ordinary Shares</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#supprom770808_5">Selling Shareholders</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#supprom770808_7">Tax Considerations</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#supprom770808_8">Underwriting</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-8</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#supprom770808_10">Legal Matters</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-13</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#supprom770808_11">Experts</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-13</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#supprom770808_12">Where You Can Find More Information</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-13</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#supprom770808_13">Incorporation by Reference of Certain Documents</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-14</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Prospectus</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="top"></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Page</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">About this Prospectus</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">iii</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Industry and Market Data</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">iii</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Trademarks</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">iv</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Cautionary Note Regarding Forward-Looking Statements</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">iv</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Michael Kors Holdings Limited</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Risk Factors</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Use of Proceeds</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Selling Shareholders</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Description of Share Capital</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Plan of Distribution</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">17</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Service of Process and Enforcement of Liabilities</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">19</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Legal Matters</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">20</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Experts</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">20</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Where You Can Find More Information</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">20</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Incorporation by Reference of Certain Documents</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">20</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="supprom770808_1"></A>About this Prospectus Supplement </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This document is in two parts. The first part is this prospectus supplement, which contains specific information about the terms on which
the selling shareholder is offering and selling our ordinary shares, including the name of the selling shareholder. The second part is the accompanying prospectus dated September&nbsp;4, 2014, which contains and incorporates by reference important
business and financial information about us and other information about the offering. If the information set forth in this prospectus supplement differs in any way from the information set forth in the accompanying prospectus or the information
contained in any document incorporated by reference herein or therein, the information contained in the most recently dated document shall control. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Neither we, the selling shareholder nor the underwriter has authorized anyone to provide any information other than that contained in this prospectus supplement or the accompanying prospectus or
incorporated by reference in this prospectus supplement or the accompanying prospectus or in any free writing prospectus prepared by or on behalf of us to which we have referred you. We, the selling shareholder and the underwriter take no
responsibility for, and can provide no assurance as to the reliability of, any other information that others </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-i
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
may give you. Neither we, the selling shareholder nor the underwriter is making an offer to sell the ordinary shares in any jurisdiction where the offer to sell is not permitted. You should
assume that the information appearing in this prospectus supplement, the accompanying prospectus and the documents incorporated by reference in either this prospectus supplement or the accompanying prospectus is accurate only as of their respective
dates. Our business, financial condition, results of operations and prospects may have changed since those dates. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Before you
invest in our ordinary shares, you should carefully read the registration statement (including the exhibits thereto) of which this prospectus supplement and the accompanying prospectus form a part, this prospectus supplement, the accompanying
prospectus and the documents incorporated by reference into this prospectus supplement and accompanying prospectus. The incorporated documents are described under &#147;Incorporation by Reference of Certain Documents.&#148; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Except where the context otherwise requires or where otherwise indicated, (i)&nbsp;the terms &#147;Michael Kors,&#148; &#147;we,&#148;
&#147;us,&#148; &#147;our,&#148; &#147;the Company,&#148; &#147;our Company&#148; and &#147;our business&#148; refer to Michael Kors Holdings Limited and its consolidated subsidiaries as a combined entity, (ii)&nbsp;references to our stores, retail
stores and retail segment include all of our full-price retail stores (including concessions) and outlet stores and (iii)&nbsp;the term &#147;Fiscal,&#148; with respect to any year, refers to the 52-week period ending on the Saturday closest to
March&nbsp;31 of such year. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-ii
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<div style ="BORDER-BOTTOM:1pt solid #000000;BORDER-LEFT:1pt solid #000000;BORDER-RIGHT:1pt solid #000000;BORDER-TOP:1pt solid #000000;MARGIN-LEFT:0px;MARGIN-RIGHT:0px;WIDTH:100%"><div style="width:97%; margin-top:1.5%; margin-left:1.5%; margin-right:-1.25%">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="supprom770808_2"></A>SUMMARY </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>This summary highlights selected information contained elsewhere in this prospectus supplement, the accompanying prospectus and the
documents incorporated by reference. This summary does not contain all of the information you should consider before investing in our ordinary shares. Before making an investment decision, you should read this entire prospectus supplement, the
accompanying prospectus and the documents incorporated by reference carefully, especially the &#147;Risk Factors&#148; section of this prospectus supplement. Some of the statements in this prospectus supplement constitute forward-looking statements
that involve risks and uncertainties. See &#147;Cautionary Note Regarding Forward-Looking Statements&#148; in the accompanying prospectus for more information. </I></FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Our Company </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We are a rapidly growing global luxury lifestyle brand led by
a world-class management team and a renowned, award-winning designer. Since launching his namesake brand over 30 years ago, Michael Kors has featured distinctive designs, materials and craftsmanship with a jet-set aesthetic that combines stylish
elegance and a sporty attitude. Mr.&nbsp;Kors&#146; vision has taken the Company from its beginnings as an American luxury sportswear house to a global accessories, footwear and apparel company with a presence in over 95 countries. Over the years,
we have successfully expanded beyond apparel into accessories (including handbags, small leather goods, eyewear, jewelry and watches) and footwear, which together now account for the majority of our wholesale and retail sales. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our principal executive offices are located at c/o Michael Kors Limited, Unit 1902, 19/F, The Gateway, Harbor City, Tsim Sha Tsui, Hong
Kong, our telephone number is (852)&nbsp;3928-5563 and our fax number is (852)&nbsp;3928-5697. We maintain a website at <I>www.michaelkors.com</I>. We do not incorporate the information contained on, or accessible through, our website into this
prospectus, and you should not consider it a part of this prospectus. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P></div></div>

 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-1
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<div style ="BORDER-BOTTOM:1pt solid #000000;BORDER-LEFT:1pt solid #000000;BORDER-RIGHT:1pt solid #000000;BORDER-TOP:1pt solid #000000;MARGIN-LEFT:0px;MARGIN-RIGHT:0px;WIDTH:100%"><div style="width:97%; margin-top:1.5%; margin-left:1.5%; margin-right:-1.25%">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>The Offering </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The summary below describes the principal terms of this offering. The &#147;Description of Share Capital&#148; section in the
accompanying prospectus contains a more detailed description of the ordinary shares. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="33%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="64%"></TD></TR>


<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Ordinary shares offered by us</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">We are not selling any ordinary shares in this offering.</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="12"></TD>
<TD HEIGHT="12" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Ordinary shares offered by the selling shareholder</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">11,629,627 ordinary shares.</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="12"></TD>
<TD HEIGHT="12" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-top:0px;margin-bottom:1px; margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Outstanding ordinary shares </FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">As of September 2, 2014, we had 205,446,562 ordinary shares issued and outstanding.</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="12"></TD>
<TD HEIGHT="12" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Use of proceeds</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">The selling shareholder will receive all of the net proceeds from the sale of the ordinary shares offered under this prospectus supplement. Accordingly, we will not receive any
proceeds from the sale of ordinary shares in this offering.</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="12"></TD>
<TD HEIGHT="12" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Voting rights</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Holders of our ordinary shares are entitled to one vote per ordinary share in all shareholder meetings.</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="12"></TD>
<TD HEIGHT="12" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dividend policy</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">We do not expect to pay any dividends or other distributions on our ordinary shares in the foreseeable future. We currently intend to retain future earnings.</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="12"></TD>
<TD HEIGHT="12" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">NYSE trading symbol</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">KORS.</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="12"></TD>
<TD HEIGHT="12" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Risk factors</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Investing in our ordinary shares involves substantial risks. See &#147;Risk Factors&#148; on page S-3 of this prospectus supplement, on page&nbsp;2 of the accompanying prospectus
and in the documents incorporated by reference into this prospectus supplement and the accompanying prospectus for a description of certain of the risks you should consider before investing in our ordinary shares.</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The number of ordinary shares outstanding as of September 2, 2014 excludes (i)&nbsp;8,186,268&nbsp;share
options granted and outstanding pursuant to both the Amended and Restated Michael Kors (USA), Inc. Stock Option Plan (the &#147;Stock Option Plan&#148;) and the Michael Kors Holdings Limited Omnibus Incentive Plan (the &#147;Equity Plan&#148;), at a
weighted average exercise price of $21.05 per ordinary share, and (ii)&nbsp;352,458 restricted share units. As of June&nbsp;28, 2014, there were 11,008,797 ordinary shares available for future issuance under the Equity Plan for the granting of share
options, restricted shares and restricted share units. </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Recent Developments </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Effective as of the closing date of this offering, Lawrence Stroll and Silas Chou will resign from our board of directors. Following
their resignation, our board of directors will be comprised of seven directors. </FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P></div></div>

 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-2
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="supprom770808_3"></A><A NAME="suppcov486189_"></A>RISK FACTORS </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>An investment in our ordinary shares involves risks. Before deciding whether to purchase our ordinary shares, you should consider the
risks discussed in the accompanying prospectus, including the sections of the accompanying prospectus entitled &#147;Cautionary Note Regarding Forward-Looking Statements&#148; and &#147;Risk Factors,&#148; and those set forth under the heading
&#147;Item 1A. Risk Factors&#148; in our Annual Report on Form 10-K for the fiscal year ended March 29, 2014 that we have incorporated by reference into this prospectus supplement. While we believe that these risks are the most important for you to
consider, you should read this section in conjunction with our financial statements, the notes to those financial statements and our management&#146;s discussion and analysis of financial condition and results of operations included in our periodic
reports and incorporated into this prospectus supplement by reference. </I></FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="supprom770808_3a"></A>MARKET PRICE OF
OUR ORDINARY SHARES </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our ordinary shares are traded on the NYSE under the symbol &#147;KORS.&#148; The following table
represents, for the periods indicated, the range of high and low sale prices for our ordinary shares as reported by the NYSE. Such prices reflect interdealer prices, without retail mark-up, mark-down or commission, and may not necessarily represent
actual transactions. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="85%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>High</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Low</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Fiscal 2015</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">First Fiscal Quarter Ended June 28, 2014</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"> 98.96</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">85.71</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Second Fiscal Quarter Ended September 27, 2014 (through September 3, 2014)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">91.79</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">75.13</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Fiscal 2014</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">First Fiscal Quarter Ended June 29, 2013</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"> 66.18</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">51.63</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Second Fiscal Quarter Ended September 28, 2013</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"> 78.62</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">60.08</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Third Fiscal Quarter Ended December 28, 2013</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"> 84.58</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">70.59</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Fourth Fiscal Quarter Ended March 29, 2014</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">101.04</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">74.11</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Fiscal 2013</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">First Fiscal Quarter Ended June&nbsp;30, 2012</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">49.50</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">35.50</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Second Fiscal Quarter Ended September&nbsp;29, 2012</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">57.35</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">37.77</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Third Fiscal Quarter Ended December&nbsp;29, 2012</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">58.62</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">46.66</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Fourth Fiscal Quarter Ended March&nbsp;30, 2013</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"> 65.10</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">49.00</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On September 3, 2014, the last reported sale price of our ordinary shares on the NYSE was $78.73 per
ordinary share. The foregoing table shows only historical comparisons. These comparisons may not provide meaningful information to you in determining whether to purchase our ordinary shares. You are urged to obtain current market quotations for our
ordinary shares and to review carefully the other information contained in this prospectus supplement, the accompanying prospectus and the documents incorporated by reference in each. See &#147;Where You Can Find More Information&#148; and
&#147;Incorporation By Reference of Certain Documents&#148; in this prospectus supplement. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-3
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="supprom770808_5"></A>SELLING SHAREHOLDERS </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The table below sets forth, as of September 2, 2014, the following information regarding the selling shareholder: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the number and percentage of total outstanding ordinary shares beneficially owned by the selling shareholder prior to the offering;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the number of ordinary shares to be offered by the selling shareholder; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the number and percentage of total outstanding ordinary shares to be beneficially owned by the selling shareholder after completion of the offering.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%;padding-bottom:0px; "><FONT STYLE="font-family:Times New Roman" SIZE="2">The percentage of ordinary shares beneficially owned immediately prior to and after
the completion of this offering is based on 205,446,562 ordinary shares issued and outstanding on September 2, 2014. All ordinary shares listed in the table below are entitled to one vote per share. </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="49%"></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom">&nbsp;<FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Ordinary&nbsp;Shares<BR>Beneficially&nbsp;Owned<BR>Immediately&nbsp;Prior&nbsp;to<BR>the&nbsp;
Completion&nbsp;of<BR>this&nbsp;Offering<SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(1)</SUP> </B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ROWSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Number of<BR>Shares Being<BR>Offered</B></FONT></TD>
<TD VALIGN="bottom" ROWSPAN="2"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Ordinary&nbsp;Shares<BR>Beneficially&nbsp;Owned&nbsp;After<BR>This&nbsp;Offering<SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(1) </SUP></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:92pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Name of Beneficial Owner:</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Number</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Percentage<SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex"></SUP></B></FONT></TD>

<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Number</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Percentage<SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex"></SUP></B></FONT></TD>

<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Sportswear Holdings Limited</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(2)</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11,629,627</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5.7</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11,629,627</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="line-height:8px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">The amounts and percentages of our ordinary shares beneficially owned are reported on the basis of regulations of the SEC governing the determination of beneficial
ownership of securities. Under the rules of the SEC, a person is deemed to be a &#147;beneficial owner&#148; of a security if that person has or shares &#147;voting power,&#148; which includes the power to vote or to direct the voting of such
security, or &#147;investment power,&#148; which includes the power to dispose of or to direct the disposition of such security. A person is also deemed to be a beneficial owner of any securities of which that person has a right to acquire
beneficial ownership within 60 days. Under these rules, more than one person may be deemed to be a beneficial owner of such securities as to which such person has an economic interest. </FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="1">Sportswear Holdings Limited is indirectly 50% owned by Westleigh Limited, which is privately owned by members of the Chao family (including Mr.&nbsp;Chou, a director of
the Company), and 50% owned by Flair Investment Holdings Limited, in which Mr.&nbsp;Stroll (a director of the Company) has an indirect beneficial ownership interest. Each of Sportswear Holdings Limited, Westleigh Limited and Flair Investment
Holdings Limited, as well as Messrs. Chou and Stroll (in their capacities as Co-Chairmen of Sportswear Holdings Limited), may be deemed to have shared dispositive power and shared voting power over, and thus to beneficially own, all of the ordinary
shares owned by Sportswear Holdings Limited through their respective direct or indirect ownership of the equity interests of Sportswear Holdings Limited. The mailing address for Sportswear Holdings Limited is Craigmuir Chambers, P.O. Box 71, Road
Town, Tortola, British Virgin Islands. </FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Material Relationships with the Selling Shareholder </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">For a discussion of certain relationships between us and the selling shareholder, see &#147;Certain Relationships and Related Person
Transactions&#148; in our Proxy Statement on Schedule 14A for the 2014 annual meeting of our shareholders, which section of the Proxy Statement is incorporated by reference into this prospectus supplement. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-4
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="supprom770808_7"></A>TAX CONSIDERATIONS </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>U.S. Federal Income Tax Consequences </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The following is a discussion of the material U.S. federal income tax consequences of the ownership and disposition of our ordinary shares that are applicable to you if you are a U.S. Holder, as defined
below, that acquires ordinary shares pursuant to this offering. This discussion is not a complete analysis or listing of all of the possible tax consequences of such transactions and does not address all tax considerations that might be relevant to
particular holders in light of their personal circumstances or to persons that are subject to special tax rules. In particular, the information set forth below deals only with U.S. Holders that will hold ordinary shares as capital assets for U.S.
federal income tax purposes (generally, property held for investment) and that do not own, and are not treated as owning, at any time, 10% or more of the total combined voting power of all classes of our stock entitled to vote. In addition, this
description of the material U.S. federal income tax consequences does not address the tax treatment of special classes of U.S. Holders, such as foreign and domestic financial institutions, regulated investment companies, real estate investment
trusts, tax-exempt entities, insurance companies, persons holding the ordinary shares as part of a hedging, integrated or conversion transaction or a constructive sale or &#147;straddle,&#148; persons who acquired ordinary shares through the
exercise or cancellation of employee stock options or otherwise as compensation for their services, U.S. expatriates, persons subject to the alternative minimum tax, dealers or traders in securities or currencies or holders whose functional currency
is not the U.S. dollar. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This summary does not address estate or gift tax or any other U.S. federal tax consequences other
than income tax or tax consequences under any state, local or foreign laws. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">For purposes of this section, you are a
&#147;U.S. Holder&#148; if you are a beneficial owner of ordinary shares and are: (i)&nbsp;an individual citizen of the United States or a resident alien of the United States as determined for U.S. federal income tax purposes; (ii)&nbsp;a
corporation (or other entity treated as a corporation for U.S. federal income tax purposes) created or organized under the laws of the United States or any state thereof or the District of Columbia; (iii)&nbsp;an estate the income of which is
subject to U.S. federal income taxation regardless of its source; or (iv)&nbsp;a trust (a)&nbsp;if a court within the United States is able to exercise primary supervision over its administration and one or more U.S. persons have authority to
control all substantial decisions of the trust or (b)&nbsp;that has a valid election in effect under applicable Treasury regulations to be treated as a U.S. person. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">If a partnership or other pass-through entity is a beneficial owner of our ordinary shares, the tax treatment of a partner or other owner will generally depend upon the status of the partner (or other
owner) and the activities of the entity. If you are a partner (or other owner) of a pass-through entity that acquires ordinary shares, you should consult your tax advisor regarding the tax consequences of owning and disposing of ordinary shares.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The following discussion is based upon the Internal Revenue Code of 1986, as amended (the &#147;Code&#148;), U.S. judicial
decisions, administrative pronouncements, and existing and proposed Treasury regulations, all as in effect as of the date hereof. All of the preceding authorities are subject to change, possibly with retroactive effect, so as to result in U.S.
federal income tax consequences different from those discussed below. We have not requested, and will not request, a ruling from the U.S. Internal Revenue Service (the &#147;IRS&#148;) with respect to any of the U.S. federal income tax consequences
described below, and as a result there can be no assurance that the IRS will not disagree with or challenge any of the conclusions we have reached and describe herein. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">This discussion assumes that we are not, and will not become, a passive foreign investment company (a &#147;PFIC&#148;), except as discussed below under &#147;Passive Foreign Investment Company
Considerations.&#148; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>The following discussion is for general information only and is not intended to be, nor should it be
construed to be, legal or tax advice to any holder or prospective holder of ordinary shares, and no opinion or representation with respect to the U.S. federal income tax consequences to any such holder or prospective holder is made. You are urged to
consult your tax advisor as to the particular consequences to you under U.S. federal, state and local, and applicable foreign, tax laws of the ownership and disposition of ordinary shares. </B></FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-5
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Distributions </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Subject to the PFIC rules discussed below, the gross amount of any distribution made by us (other than certain <I>pro rata </I>distributions of our ordinary shares) will generally be subject to U.S.
federal income tax as dividend income to the extent paid out of our current or accumulated earnings and profits, as determined under U.S. federal income tax principles. Such amount will be includable in gross income by you as ordinary income on the
date that you actually or constructively receive the distribution in accordance with your regular method of accounting for U.S. federal income tax purposes and such amount will be treated as having a foreign source. The amount of any distribution
made by us in property other than cash will be the fair market value of such property on the date of the distribution. Dividends paid by us on our ordinary shares will not be eligible for the dividends received deduction generally allowed to U.S.
corporations in respect of dividends received from other U.S. corporations. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Certain dividends paid by a &#147;qualified
foreign corporation&#148; to non-corporate U.S. Holders are &#147;qualified dividends&#148; eligible for taxation at rates that are lower than the rates applicable to ordinary income. A foreign corporation is treated as a qualified foreign
corporation with respect to dividends paid by that corporation on ordinary shares that are readily tradeable on an established securities market in the United States. IRS guidance indicates that, for this purpose, our ordinary shares are readily
tradeable on an established securities market in the United States. Dividends received by U.S. Holders from a foreign corporation that was a PFIC in either the taxable year of the distribution or the preceding taxable year will not constitute
qualified dividends. As discussed below under &#147;&#151;Passive Foreign Investment Company Considerations,&#148; we believe that we were not a PFIC for our 2013 taxable year and do not expect to be a PFIC for our current taxable year. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">To the extent that a distribution exceeds the amount of our current and accumulated earnings and profits, as determined under U.S.
federal income tax principles, it will be treated first as a tax-free return of capital, causing a reduction in your adjusted basis in the ordinary shares you hold (thereby increasing the amount of gain, or decreasing the amount of loss, you will
recognize upon a subsequent disposition of the ordinary shares), with any amount that exceeds your adjusted basis being taxed as capital gain recognized on a sale, exchange or other taxable disposition of the ordinary shares (as discussed below).
However, we do not intend to maintain calculations of our earnings and profits in accordance with U.S. federal income tax principles, and you should therefore assume that any distribution by us with respect to our ordinary shares will be treated as
a dividend for U.S. federal income tax purposes. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">If any British Virgin Islands taxes are withheld with respect to
distributions made on our ordinary shares, you may be able, subject to generally applicable limitations, to claim a foreign tax credit or to take a deduction for such withholding taxes. The rules governing the foreign tax credit are complex and
involve the application of rules that depend upon your particular circumstances. Accordingly, you are urged to consult your tax advisor regarding the availability of the foreign tax credit under your particular circumstances. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Sale, Exchange or Other Taxable Disposition of Ordinary Shares </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">You generally will recognize gain or loss upon the sale, exchange or other taxable disposition of our ordinary shares in an amount equal to the difference between (i)&nbsp;the amount realized upon the
sale, exchange or other taxable disposition and (ii)&nbsp;your adjusted tax basis in the relevant ordinary shares. Generally, subject to the possible application of the PFIC rules discussed below, such gain or loss will be capital gain or loss and
will be long-term capital gain or loss if, on the date of the sale, exchange or other taxable disposition, you have held the ordinary shares for more than one year. Long-term capital gains of non-corporate taxpayers are subject to taxation at
favorable rates. The deductibility of capital losses is subject to limitations under the Code. Gain or loss, if any, that you realize upon a sale, exchange or other taxable disposition of ordinary shares will be treated as U.S. source for U.S.
foreign tax credit limitation purposes. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Passive Foreign Investment Company Considerations </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Special and generally unfavorable U.S. federal income tax rules may apply to you if your holding period in our ordinary shares includes
any period during a taxable year of the Company in which the Company is a PFIC. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-6
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
A non-U.S. corporation is classified as a PFIC for each taxable year in which (i)&nbsp;75% or more of its gross income is passive income (as defined for U.S. federal income tax purposes) or
(ii)&nbsp;for such taxable year, 50% or more of the average value of its assets either produce or are held for the production of passive income. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">We believe that we will not be classified as a PFIC for U.S. federal income tax purposes for our current taxable year, and we do not expect to become a PFIC in the future. If we were classified as a PFIC
for any taxable year during which you held ordinary shares, you would be subject to an increased tax liability (such tax generally would be calculated at the highest U.S. federal income tax rate and would also include an interest charge) upon the
sale or other disposition of the ordinary shares or upon the receipt of certain distributions treated as &#147;excess distributions,&#148; unless you made certain elections to mitigate such consequences (although even if either of such elections
were made, the U.S. federal income tax consequences of owning ordinary shares of a PFIC would still be less favorable than the U.S. federal income tax consequences of owning ordinary shares of a non-PFIC). In addition, you would be required to
comply with certain information reporting to the IRS if we were to become a PFIC. If we were to determine that we had become a PFIC, we would provide additional information regarding such elections and reporting requirements. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">You are urged to consult your tax advisor regarding our PFIC classification, the consequences to you if we became a PFIC, and the
availability and the consequences of making certain elections to mitigate such consequences. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Information Reporting and Backup
Withholding </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In general, information reporting will apply to dividends paid to you in respect of ordinary shares and
the proceeds received by you from the sale, exchange or other disposition of ordinary shares within the United States unless you are an exempt recipient. Backup withholding may apply to such payments if you fail to provide a taxpayer identification
number or certification of exempt status or fail to report in full dividend and interest income. Backup withholding is not an additional tax. Any amounts withheld under the backup withholding rules will be allowed as a refund or credit against your
U.S. federal income tax liability, provided that the required information is furnished to the IRS. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In addition, U.S. Holders
should be aware of reporting requirements with respect to the holding of certain foreign financial assets, including stock of foreign issuers that is not held in an account maintained by certain types of financial institutions, if the aggregate
value of all of such assets exceeds U.S. $50,000. You should consult your tax advisor regarding the application of the information reporting rules to our ordinary shares and to your particular situation. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Additional Tax on Investment Income </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">U.S. Holders that are individuals, estates or trusts that do not fall into a special class of trusts that is exempt from such tax, and whose income exceeds certain thresholds, generally are subject to a
3.8% Medicare contribution tax on unearned income, including, among other things, dividends on, and capital gains from the sale or other taxable disposition of, our ordinary shares, subject to certain limitations and exceptions. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">You are urged to consult your tax advisor regarding the implications of the additional tax on investment income described above.
</FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>British Virgin Islands Tax Consequences </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Under the present laws of the British Virgin Islands, there are no applicable taxes on the profits or income of the Company. There are no taxes on profits or income, nor is there any capital gains tax,
estate duty or inheritance tax applicable to any ordinary shares held by non-residents of the British Virgin Islands. In addition, there is no stamp duty on the issuance, transfer or redemption of the ordinary shares. Dividends remitted to the
holders of ordinary shares resident outside the British Virgin Islands will not be subject to withholding tax in the British Virgin Islands. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-7
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="supprom770808_8"></A>UNDERWRITING </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under the terms and subject to the conditions in an underwriting agreement dated the date of this prospectus supplement, J.P. Morgan
Securities LLC, or the underwriter, has agreed to purchase, and the selling shareholder has agreed to sell, 11,629,627 ordinary shares. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The underwriter is offering the ordinary shares subject to its acceptance of the ordinary shares from the selling shareholder and subject to prior sale. The underwriting agreement provides that the
obligations of the underwriter to pay for and accept delivery of the ordinary shares offered by this prospectus supplement are subject to the approval of certain legal matters by its counsel and to certain other conditions. The underwriter is
obligated to take and pay for all of the ordinary shares offered by this prospectus supplement if any such ordinary shares are taken. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The underwriter initially proposes to offer part of the ordinary shares directly to the public at the offering price listed on the cover page of this prospectus supplement and part to certain dealers at a
price that represents a concession not in excess of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per ordinary share. After this offering of the ordinary shares, the offering price and other selling terms may from time to
time be varied by the underwriter. Sales of ordinary shares made outside of the United States may be made by affiliates of the underwriter. The offering of the ordinary shares by the underwriter is subject to receipt and acceptance and subject to
the underwriter&#146;s right to reject any order in whole or in part. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The following table shows the per share and total
public offering price, underwriting discounts and commissions and proceeds before expenses to the selling shareholder. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="78%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Per&nbsp;Share</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Total</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Public offering price</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Underwriting discounts and commissions to be paid by the selling shareholder</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Proceeds, before expenses, to the selling shareholder</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The estimated offering expenses payable by us, exclusive of the underwriting discounts and commissions,
are approximately $750,000. We have agreed to reimburse the underwriter for expenses relating to clearance of this offering with the Financial Industry Regulatory Authority up to $30,000. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our ordinary shares are listed on the NYSE under the symbol &#147;KORS.&#148; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We and each of our executive officers and directors and the selling shareholder have agreed that, subject to certain exceptions described
in the next paragraph below, without the prior written consent of the underwriter, we and they will not, during the period ending 90 days after the date of this prospectus supplement: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or
warrant to purchase, lend or otherwise transfer or dispose of, directly or indirectly, any ordinary shares or any securities convertible into or exercisable or exchangeable for ordinary shares; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the ordinary
shares; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">file any registration statement with the SEC relating to the offering of any ordinary shares or any securities convertible into or exercisable or
exchangeable for ordinary shares; or </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">publicly announce any intention to engage in any of the above transactions, </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">whether any such transaction described in the bullet points above is to be settled by delivery of ordinary shares or such other securities, in cash or otherwise. In addition, we and each such person
agrees that, without the prior written consent of the underwriter, we and they will not, during the period ending 90 days after the date of this </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-8
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
prospectus supplement, make any demand for, or exercise any right with respect to, the registration of any ordinary shares or any security convertible into or exercisable or exchangeable for
ordinary shares that would result in a public filing or announcement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The restrictions described in the immediately preceding
paragraph do not apply to (a)&nbsp;the sale of ordinary shares pursuant to the terms of the underwriting agreement, (b)&nbsp;the issuance by the company of ordinary shares upon the exercise of an option or warrant or the conversion of a security
outstanding on the date of the underwriting agreement of which the underwriter has been advised in writing, (c)&nbsp;the exercise of an option or warrant to the extent the securities acquired upon exercise are sold pursuant to the terms of the
underwriting agreement, (d) transactions relating to ordinary shares or other securities acquired in open market transactions, subject to certain limitations, (e)&nbsp;the issuance by the company of ordinary shares or any security convertible into
ordinary shares as consideration, full or partial, for acquisitions, business combinations or other collaborations, subject to certain limitations, (f)&nbsp;transfers of ordinary shares or any security convertible into ordinary shares pursuant to a
will, other testamentary document or applicable laws of descent, (g)&nbsp;transfers of ordinary shares or any security convertible into ordinary shares as a bona fide gift, (h)&nbsp;distributions of ordinary shares or any security convertible into
ordinary shares to limited partners, members or stockholders of signatories to the lock-up agreements or to such signatories&#146; affiliates or to any investment fund or other entity controlled or managed by such signatories, (i)&nbsp;the
establishment of a trading plan pursuant to Rule 10b5-1 under the Exchange Act for the transfer of ordinary shares, subject to certain limitations or (j)&nbsp;transfers of ordinary shares to the company for the primary purpose of satisfying any tax
or other governmental withholding obligation with respect to ordinary shares issued upon the exercise of an option or warrant or the conversion of a security. Ordinary shares transferred pursuant to clause (f), (g)&nbsp;or (h)&nbsp;of the preceding
sentence are subject to further restrictions, including that each recipient of such ordinary shares shall sign and deliver a lock-up letter substantially in the form provided in the underwriting agreement, except that recipients that are charitable
organizations that receive up to an aggregate of 500,000 ordinary shares from Michael Kors or John Idol and a recipient that may receive up to an aggregate of 1,500 ordinary shares as a gift from Michael Kors pursuant to clause (g)&nbsp;of the
preceding sentence will immediately be able to sell such ordinary shares in accordance with Rule 144 of the Securities Act and will not be required to sign and deliver a lock-up letter in connection with such gifted ordinary shares. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The underwriter, in its sole discretion, may release the ordinary shares and other securities subject to the lock-up agreements described
above in whole or in part at any time with or without notice. When determining whether or not to release ordinary shares and other securities from lock-up agreements, the underwriter will consider, among other factors, the holder&#146;s reasons for
requesting the release, the number of ordinary shares and other securities for which the release is being requested and market conditions at the time. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">In order to facilitate the offering of the ordinary shares, the underwriter may engage in transactions that stabilize, maintain or otherwise affect the price of the ordinary shares. Specifically, the
underwriter may sell more ordinary shares than they are obligated to purchase under the underwriting agreement, creating a naked short position. The underwriter must close out any naked short position by purchasing ordinary shares in the open
market. A naked short position is more likely to be created if the underwriter is concerned that there may be downward pressure on the price of the ordinary shares in the open market after pricing that could adversely affect investors who purchase
in this offering. As an additional means of facilitating the offering, the underwriter may bid for, and purchase, ordinary shares in the open market to stabilize the price of the ordinary shares. These activities may raise or maintain the market
price of the ordinary shares above independent market levels or prevent or retard a decline in the market price of the ordinary shares. The underwriter is not required to engage in these activities and may end any of these activities at any time.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We, the selling shareholder and the underwriter have agreed to indemnify each other against certain liabilities, including
liabilities under the Securities Act. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">A prospectus supplement in electronic format may be made available on websites
maintained by the underwriter, or selling group members, if any, participating in this offering. The underwriter may allocate a number of ordinary shares for sale to its online brokerage account holders. Internet distributions will be allocated by
the underwriter to underwriters that may make Internet distributions on the same basis as other allocations. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-9
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Other Relationships </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The underwriter and its affiliates are full service financial institutions engaged in various activities, which may include securities trading, commercial and investment banking, financial advisory,
investment management, investment research, principal investment, hedging, financing and brokerage activities. The underwriter and its affiliates have, from time to time, performed, and may in the future perform, various financial advisory and
investment banking services for the Company, for which they received or will receive customary fees and expenses, including acting as underwriters or placement agents in securities offerings and as lenders or arrangers in connection with both our
prior and existing Credit Facility. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In the ordinary course of their various business activities, the underwriter and its
affiliates may make or hold a broad array of investments and actively trade debt and equity securities (or related derivative securities) and financial instruments (including bank loans) for their own account and for the accounts of their customers,
and such investment and securities activities may involve securities and/or instruments of the Company. The underwriter and its affiliates may also make investment recommendations and/or publish or express independent research views in respect of
such securities or instruments and may at any time hold, or recommend to clients that they acquire, long and/or short positions in such securities and instruments. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Selling Restrictions </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Other than in the United States, no action has been
taken by us or the underwriter that would permit a public offering of the securities offered by this prospectus in any jurisdiction where action for that purpose is required. The securities offered by this prospectus may not be offered or sold,
directly or indirectly, nor may this prospectus or any other offering material or advertisements in connection with the offer and sale of any such securities be distributed or published in any jurisdiction, except under circumstances that will
result in compliance with the applicable rules and regulations of that jurisdiction. Persons into whose possession this prospectus comes are advised to inform themselves about and to observe any restrictions relating to the offering and the
distribution of this prospectus. This prospectus does not constitute an offer to sell or a solicitation of an offer to buy any securities offered by this prospectus in any jurisdiction in which such an offer or a solicitation is unlawful.
</FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>European Economic Area </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">In relation to each Member State of the European Economic Area which has implemented the Prospectus Directive (as defined below) (each, a &#147;Relevant Member State&#148;) an offer to the public of any
ordinary shares may not be made in that Relevant Member State, except that an offer to the public in that Relevant Member State of any ordinary shares may be made at any time under the following exemptions under the Prospectus Directive, if they
have been implemented in that Relevant Member State: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">to any legal entity which is a qualified investor as defined in the Prospectus Directive; </FONT></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">to fewer than 100, or, if the Relevant Member State has implemented the relevant provision of the 2010 PD Amending Directive, 150, natural or legal persons (other than
qualified investors as defined in the Prospectus Directive), as permitted under the Prospectus Directive, subject to obtaining the prior consent of the underwriter for any such offer; or </FONT></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">in any other circumstances falling within Article 3(2) of the Prospectus Directive, provided that no such offer of ordinary shares shall result in a requirement for the
publication by us or any underwriter of a prospectus pursuant to Article 3 of the Prospectus Directive. </FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">For the
purposes of this provision: (i)&nbsp;the expression an &#147;offer to the public&#148; in relation to any ordinary shares in any Relevant Member State means the communication in any form and by any means of sufficient information on the terms of the
offer and any ordinary shares to be offered so as to enable an investor to decide to purchase any ordinary shares, as the same may be varied in that Member State by any measure implementing the
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-10
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
Prospectus Directive in that Member State; (ii)&nbsp;the expression &#147;Prospectus Directive&#148; means Directive 2003/71/EC (and amendments thereto, including the 2010 PD Amending Directive,
to the extent implemented in the Relevant Member State) and includes any relevant implementing measure in the Relevant Member State; and (iii)&nbsp;the expression &#147;2010 PD Amending Directive&#148; means Directive 2010/73/EU. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>United Kingdom </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The underwriter has represented and agreed that: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">it has only communicated or caused to be communicated and will only communicate or cause to be communicated an invitation or inducement to engage in investment activity
(within the meaning of Section&nbsp;21 of the Financial Services and Markets Act 2000, or the &#147;FSMA&#148;) received by it in connection with the issue or sale of the ordinary shares in circumstances in which Section&nbsp;21(1) of the FSMA does
not apply to us; and </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">it has complied and will comply with all applicable provisions of the FSMA with respect to anything done by it in relation to the ordinary shares in, from or otherwise
involving the United Kingdom. </FONT></TD></TR></TABLE> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Hong Kong </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The ordinary shares may not be offered or sold by means of any document other than (i)&nbsp;in circumstances that do not constitute an offer to the public within the meaning of the Companies Ordinance
(Cap. 32, Laws of Hong Kong), or (ii)&nbsp;to &#147;professional investors&#148; within the meaning of the Securities and Futures Ordinance (Cap.&nbsp;571, Laws of Hong Kong) and any rules made thereunder, or (iii)&nbsp;in other circumstances that
do not result in the document being a &#147;prospectus&#148; within the meaning of the Companies Ordinance (Cap. 32, Laws of Hong Kong), and no advertisement, invitation or document relating to the shares may be issued or may be in the possession of
any person for the purpose of issue (in each case whether in Hong Kong or elsewhere), which is directed at, or the contents of which are likely to be accessed or read by, the public in Hong Kong (except if permitted to do so under the laws of Hong
Kong) other than with respect to ordinary shares that are or are intended to be disposed of only to persons outside Hong Kong or only to &#147;professional investors&#148; within the meaning of the Securities and Futures Ordinance (Cap. 571, Laws of
Hong Kong) and any rules made thereunder. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Singapore </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">This prospectus supplement has not been registered as a prospectus with the Monetary Authority of Singapore. Accordingly, this prospectus supplement and any other document or material in connection with
the offer or sale, or invitation for subscription or purchase, of the ordinary shares may not be circulated or distributed, nor may the ordinary shares be offered or sold, or be made the subject of an invitation for subscription or purchase, whether
directly or indirectly, to persons in Singapore other than (i)&nbsp;to an institutional investor under Section&nbsp;274 of the Securities and Futures Act, Chapter 289 of Singapore (the &#147;SFA&#148;), (ii)&nbsp;to a relevant person, or any person
pursuant to Section&nbsp;275(1A), and in accordance with the conditions, specified in Section&nbsp;275 of the SFA or (iii)&nbsp;otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Where the ordinary shares are subscribed or purchased under Section&nbsp;275 by a relevant person that is: (a)&nbsp;a corporation (which
is not an accredited investor) the sole business of which is to hold investments and the entire share capital of which is owned by one or more individuals, each of whom is an accredited investor; or (b)&nbsp;a trust (where the trustee is not an
accredited investor) whose sole purpose is to hold investments and each beneficiary of which is an accredited investor, shares, debentures and units of shares and debentures of that corporation or the beneficiaries&#146; rights and interest in that
trust shall not be transferable for six months after that corporation or that trust has acquired the shares under Section&nbsp;275 except: (1)&nbsp;to an institutional investor under Section&nbsp;274 of the SFA or to a relevant person, or any person
pursuant to Section&nbsp;275(1A), and in accordance with the conditions, specified in Section&nbsp;275 of the SFA; (2)&nbsp;where no consideration is given for the transfer; or (3)&nbsp;by operation of law. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-11
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Japan </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The ordinary shares have not been and will not be registered under the Financial Instruments and Exchange Law of Japan (the &#147;Financial Instruments and Exchange Law&#148;), and the underwriter has
agreed that it will not offer or sell any ordinary shares, directly or indirectly, in Japan or to, or for the benefit of, any resident of Japan (which term as used herein means any person resident in Japan, including any corporation or other entity
organized under the laws of Japan), or to others for re-offering or resale, directly or indirectly, in Japan or to a resident of Japan, except pursuant to an exemption from the registration requirements of, and otherwise in compliance with, the
Financial Instruments and Exchange Law and any other applicable laws, regulations and ministerial guidelines of Japan. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-12
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="supprom770808_10"></A>LEGAL MATTERS </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Legal matters in connection with this offering will be passed upon for us by Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison LLP, New
York, New York. The validity of the ordinary shares offered by this prospectus supplement and certain legal matters as to British Virgin Islands law will be passed upon for us by Harney, Westwood&nbsp;&amp; Riegels, Tortola, British Virgin Islands.
United States securities law matters in connection with this offering will be passed upon for the underwriter by Davis Polk&nbsp;&amp; Wardwell LLP, New York, New&nbsp;York. </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="supprom770808_11"></A>EXPERTS </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The consolidated financial
statements of the Company incorporated by reference into the Company&#146;s Annual Report on Form&nbsp;10-K for the fiscal year ended March&nbsp;29, 2014 and the effectiveness of the Company&#146;s internal control over financial reporting as of
March&nbsp;29, 2014 have been audited by Ernst&nbsp;&amp; Young LLP, an independent registered public accounting firm, as set forth in their reports thereon, incorporated by reference therein, and incorporated herein by reference. Such consolidated
financial statements and the Company&#146;s management&#146;s assessment of the effectiveness of internal control over financial reporting as of March&nbsp;29, 2014 are incorporated herein by reference in reliance upon such reports given on the
authority of such firm as experts in accounting and auditing. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The financial statements as of March&nbsp;30, 2013 and for each
of the two years in the period ended March&nbsp;30, 2013 incorporated in this prospectus supplement by reference to the Annual Report on Form&nbsp;10-K for the year ended March&nbsp;29, 2014 have been so incorporated in reliance on the report of
PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting. </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="supprom770808_12"></A>WHERE YOU CAN FIND MORE INFORMATION </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We
have filed with the SEC a registration statement on Form S-3 under the Securities Act with respect to the ordinary shares offered under this prospectus. For the purposes of this section, the term registration statement means the original
registration statement and any and all amendments, including the schedules and exhibits to the original registration statement or any amendment. This prospectus does not contain all of the information set forth in the registration statement we
filed. For further information regarding us and the ordinary shares offered in this prospectus, you may desire to review the full registration statement, including the exhibits. The registration statement, including its exhibits and schedules, may
be inspected and copied at the public reference facilities maintained by the SEC at 100 F Street, N.E., Room 1580, Washington, D.C. 20549. You may obtain information on the operation of the public reference room by calling 1-800-SEC-0330. Copies of
such materials are also available by mail from the Public Reference Branch of the SEC at 100 F Street, N.E., Washington, D.C. 20549 at prescribed rates. In addition, the SEC maintains a website (<I>http://www.sec.gov</I>) from which interested
persons can electronically access the registration statement, including the exhibits and schedules to the registration statement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">We are also subject to periodic reporting and other informational requirements of the Exchange Act. Accordingly, we file annual, quarterly and current reports, proxy statements and other information with
the SEC under the Exchange Act. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-13
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="supprom770808_13"></A>INCORPORATION BY REFERENCE OF CERTAIN DOCUMENTS
</B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This prospectus supplement incorporates documents by reference that are not presented in or delivered with this
prospectus supplement. This is known as &#147;incorporation by reference.&#148; The following documents, which have been filed by us with the SEC are incorporated by reference into this prospectus supplement: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our Annual Report on Form 10-K for the year ended March 29, 2014 filed with the SEC on May 28, 2014 (our &#147;Form 10-K&#148;);
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">The information responsive to Part III of our Form 10-K for the year ended March 29, 2014 provided in our Proxy Statement on Schedule 14A filed with
the SEC on June 17, 2014; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our Quarterly Report on Form 10-Q for the quarter ended June 28, 2014 filed with the SEC on August&nbsp;7, 2014; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our Current Reports on <FONT STYLE="white-space:nowrap">Form&nbsp;8-K</FONT> filed with the SEC on May&nbsp;12, 2014 and August&nbsp;6, 2014; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">The description of our ordinary shares contained in our Registration Statement on Form 8-A (filed on December&nbsp;8, 2011).
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We also incorporate by reference into this prospectus supplement any future filings we make with the SEC
under Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act (other than the portions of those made pursuant to Item&nbsp;2.02 or Item&nbsp;7.01 of Form 8-K or other information &#147;furnished&#148; and not filed with the SEC) after the date hereof
and prior to the completion of an offering of securities under this prospectus supplement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We have not authorized anyone to
provide you with any different or additional information other than that contained in or incorporated by reference into this prospectus supplement. We and the underwriter take no responsibility for, and can provide no assurance as to the reliability
of, any other information that others may provide. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Any statement contained in a document incorporated or deemed to be
incorporated by reference into this prospectus supplement will be deemed to be modified or superseded for purposes of this prospectus supplement to the extent that a statement contained in this prospectus supplement or any other subsequently filed
document that is deemed to be incorporated by reference into this prospectus supplement modifies or supersedes the statement. Any statement so modified or superseded will not be deemed, except as so modified or superseded, to constitute a part of
this prospectus supplement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The documents incorporated by reference into this prospectus supplement are available from us
upon request. We will provide a copy of any and all of the information that is incorporated by reference in this prospectus supplement to any person, including a beneficial owner, to whom a prospectus supplement is delivered, without charge, upon
written or oral request. If exhibits to the documents incorporated by reference in this prospectus supplement are not themselves specifically incorporated by reference in this prospectus supplement, then the exhibits will not be provided.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Requests for any of these documents should be directed to: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">c/o Michael Kors Limited </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Unit 1902, 19/F, Tower 6 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Gateway, Harbour City </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Tsim Sha Tsui, Kowloon, Hong Kong </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(852) 3928-5563 </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">S-14
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>Ordinary Shares </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center">


<IMG SRC="g770813g96g11.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>Michael Kors Holdings Limited </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This prospectus relates to the offer and sale, from time to time, of ordinary shares of Michael Kors Holdings Limited by selling
shareholders to be named in a prospectus supplement accompanying this prospectus in amounts, at prices and on terms determined at the time of the offerings. See &#147;Selling Shareholders.&#148; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We will not receive any proceeds from the sale of any ordinary shares offered by the selling shareholders. The selling shareholders from
time to time may offer and sell the shares through public or private transactions, directly or through agents or broker-dealers, on terms to be determined at the time of sale. See &#147;Plan of Distribution.&#148; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Each time ordinary shares are offered under this prospectus, we will provide a prospectus supplement containing more information about
the particular offering, together with this prospectus. The prospectus supplement may also add, update or change information contained in this prospectus. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The ordinary shares are listed on the New York Stock Exchange under the symbol &#147;KORS.&#148; The last reported sale price of the ordinary shares on September&nbsp;3, 2014 was $78.73 per ordinary
share. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>See &#147;<A HREF="#cov770813_1">Risk Factors</A>&#148; beginning on page 2 of this prospectus to read about
factors you should consider before buying our ordinary shares. </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Neither the
Securities and Exchange Commission (the &#147;SEC&#148;) nor any state securities commission has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal
offense.</B> </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">The date of this prospectus is September&nbsp;4, 2014. </FONT></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc"></A>TABLE OF CONTENTS </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="97%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#rom770813_1">About this Prospectus</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">iii</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#rom770813_2">Industry and Market Data</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">iii</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#rom770813_3">Trademarks</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">iv</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#rom770813_4">Cautionary Note Regarding Forward-Looking Statements</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">iv</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#rom770813_5">Michael Kors Holdings Limited</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#rom770813_6">Risk Factors</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#rom770813_7">Use of Proceeds</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#rom770813_8">Selling Shareholders</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#rom770813_9">Description of Share Capital</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#rom770813_10">Plan of Distribution</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">17</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#rom770813_11">Service of Process and Enforcement of Liabilities</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">19</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#rom770813_12">Legal Matters</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">20</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#rom770813_13">Experts</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">20</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#rom770813_14">Where You Can Find More Information</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">20</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#rom770813_15">Incorporation by Reference of Certain Documents</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">20</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">ii </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="rom770813_1"></A>ABOUT THIS PROSPECTUS </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This prospectus is part of a registration statement on Form S-3 under the Securities Act of 1933, as amended (the &#147;Securities
Act&#148;), that we filed with the SEC using a &#147;shelf&#148; registration, or continuous offering, process. Under this shelf registration process, the selling shareholders may, from time to time, sell or otherwise dispose of our ordinary shares.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This prospectus may be supplemented from time to time by one or more prospectus supplements. Any such prospectus supplements
may include additional information, such as additional risk factors or other special considerations applicable to us, our business or results of operations or our ordinary shares, and may also update or change the information in this prospectus. If
there is any inconsistency between the information in this prospectus and any prospectus supplement, you should rely on the information in the prospectus supplement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>This prospectus incorporates by reference important business and financial information about us that is not included in or delivered with this document. See &#147;Where You Can Find More
Information&#148; and &#147;Incorporation by Reference of Certain Documents.&#148; </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Except where the context otherwise
requires or where otherwise indicated, (i)&nbsp;the terms &#147;Michael Kors,&#148; &#147;we,&#148; &#147;us,&#148; &#147;our,&#148; &#147;the Company,&#148; &#147;our Company&#148; and &#147;our business&#148; refer to Michael Kors Holdings Limited
and its consolidated subsidiaries as a combined entity, (ii)&nbsp;references to our stores, retail stores and retail segment include all of our full-price retail stores (including concessions) and outlet stores and (iii)&nbsp;the term
&#147;Fiscal,&#148; with respect to any year, refers to the 52-week period ending on the Saturday closest to March&nbsp;31 of such year. </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="rom770813_2"></A>INDUSTRY AND MARKET DATA </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We obtained the
industry, market and competitive position data throughout this prospectus, any prospectus supplement and the documents incorporated by reference herein from our own internal estimates and research as well as from industry and general publications
and research, surveys and studies conducted by third parties, including the <I>Worldwide Luxury Markets Monitor, Spring 2014 Update, </I>the<I> Worldwide Luxury Markets Monitor, Spring 2013 Update, </I>the<I> Luxury Goods Worldwide Market Study,
2012, </I>the<I> Luxury Goods Worldwide Market Monitor, Spring 2012 Update</I>, the <I>Luxury Goods Worldwide Market Study, 2011</I>, the Luxury Goods Worldwide Market Study, Spring 2011 Update, the <I>Luxury Goods Worldwide Market Study</I>, 2008
and the <I>Altagamma 2006 Worldwide Markets Monitor</I>, each of which was prepared by the Altagamma Foundation in cooperation with Bain&nbsp;&amp; Company and can be obtained free of charge or at a nominal cost by contacting Bain&nbsp;&amp;
Company&#146;s media contacts at cheryl.krauss@bain.com or frank.pinto@bain.com (together, the &#147;Altagamma Studies&#148;). Industry publications, studies and surveys generally state that they have been prepared from sources believed to be
reliable, although they do not guarantee the accuracy or completeness of such information. While we believe that each of these studies and publications is reliable, we have not independently verified market and industry data from third-party
sources. While we believe our internal company research is reliable and the definitions of our market and industry are appropriate, neither this research nor these definitions have been verified by any independent source. Further, while we believe
the market opportunity information included in this prospectus, any prospectus supplement and any documents incorporated by reference herein is generally reliable, such information is inherently imprecise. In addition, projections, assumptions and
estimates of the future performance of the industry in which we operate and our future performance are necessarily subject to a high degree of uncertainty and risk due to a variety of factors, including those described or incorporated by reference
in &#147;Risk Factors.&#148; These and other factors could cause results to differ materially from those expressed in the estimates made by the independent parties and by us. See &#147;Cautionary Note Regarding Forward-Looking Statements.&#148;
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Altagamma Studies analyze the global luxury goods market, including the market and financial performance of more than 230
of the world&#146;s leading luxury goods companies and brands. All figures derived from the Altagamma Studies are based on an exchange rate of $1.31 to &#128;1.00. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">iii
</FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="rom770813_3"></A>TRADEMARKS </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%;padding-bottom:0px; "><FONT STYLE="font-family:Times New Roman" SIZE="2">We operate under a number of trademarks, including, among others, &#147;<I>Michael Kors</I>&#148; and
&#147;<I>MICHAEL Michael Kors</I>,&#148; all of which are registered under applicable intellectual property laws. This prospectus, any prospectus supplement and any documents incorporated by reference herein contain references to our trademarks and
service marks and to those belonging to other entities. Solely for convenience, trademarks and trade names referred to in this prospectus may appear without the <FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">&reg;</SUP></FONT> or TM symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent possible under applicable law, our rights
or the rights of the applicable licensor to these trademarks and trade names. We do not intend our use or display of other companies&#146; trade names, trademarks or service marks to imply a relationship with, or endorsement or sponsorship of us by,
any other companies. </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="rom770813_4"></A>CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Some of the statements in this prospectus, any prospectus supplement and any documents incorporated by reference herein constitute
forward-looking statements that do not directly or exclusively relate to historical facts. You should not place undue reliance on such statements because they are subject to numerous uncertainties and factors relating to our operations and business
environment, all of which are difficult to predict and many of which are beyond our control. Forward-looking statements include information concerning our possible or assumed future results of operations, including descriptions of our business
strategy. These statements often include words such as &#147;may,&#148; &#147;will,&#148; &#147;should,&#148; &#147;believe,&#148; &#147;expect,&#148; &#147;anticipate,&#148; &#147;intend,&#148; &#147;plan,&#148; &#147;estimate&#148; or similar
expressions. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The forward-looking statements contained in this prospectus, any prospectus supplement and any documents
incorporated by reference herein are based on assumptions that we have made in light of our management&#146;s experience in the industry as well as our perceptions of historical trends, current conditions, expected future developments and other
factors that we believe are appropriate under the circumstances. As you read and consider this prospectus, any prospectus supplement and any documents incorporated by reference herein, you should understand that these statements are not guarantees
of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although we believe that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect our
actual financial results or results of operations and could cause actual results to differ materially from those in these forward-looking statements. These factors include but are not limited to: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">general economic cycles that affect consumer spending and overall consumer spending on accessories, footwear and apparel; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">direct privacy breaches and third-party operation of our e-commerce website; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">our ability to maintain adequate information technology systems and to effectively track inventory, manage our supply chain, record and process
transactions, summarize results and manage our business; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">political and economic instability and changing macroeconomic conditions in major international markets; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">our ability to respond to changing fashion and retail trends; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">our ability to respond to market competition; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">our dependence on members of our executive management and other key employees, including, among others, Mr.&nbsp;Kors and Mr.&nbsp;Idol;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">our ability to execute our growth strategies, including increasing brand awareness and global comparable store sales growth and opening new retail
stores, including concessions, and &#147;shop-in-shops&#148; in North America and internationally; </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">iv </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">our ability to manage our operations at our current size and to manage any future growth; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">our ability to effectively operate our distribution facilities and implement a new warehouse management system; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">our ability to maintain historical levels of comparable store sales and average sales per square foot as we expand our store base;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">risks associated with leasing retail space under long-term, non-cancelable leases and our substantial operating lease obligations;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the success of our current and future licensing arrangements with third parties over whom we have limited control; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">our ability to maintain our relationships with our significant wholesale customers; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">fluctuations in the costs of raw materials; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">our dependence on foreign manufacturing contractors and independent third-party agents to source our finished goods, which poses legal, regulatory,
political and economic risks; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">labor laws and regulations and our manufacturing contractors&#146; failure to use acceptable ethical business practices; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">our ability to maintain compliance with restrictive covenants in the documents governing our debt; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">duties, quotas and other import regulations; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">our ability to protect our trademarks and other intellectual property rights, including our brand image and reputation, and the possibility that others
may allege that we infringe upon their intellectual property rights; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">fluctuations in foreign currency exchange rates. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">These and other factors are more fully discussed in the &#147;Risk Factors&#148; section and elsewhere in this </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">prospectus, any prospectus supplement and any documents incorporated by reference herein. These risks could cause actual results to differ materially from those implied by forward-looking statements in
this prospectus, any prospectus supplement and any documents incorporated by reference herein. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">You should not assume that the
information in this prospectus, any accompanying prospectus supplement or any documents we incorporate by reference into this prospectus and any prospectus supplement is accurate as of any date other than the date on the front of those documents.
Our business, financial condition, results of operations and prospects may have changed since those dates. New risks and uncertainties come up from time to time, and it is impossible for us to predict these events or how they may affect us. We do
not undertake any obligation to update or revise any forward-looking statements after the date of this prospectus, whether as a result of new information, future events or otherwise, except as required by law. In light of these risks and
uncertainties, you should keep in mind that any event described in a forward-looking statement made in this prospectus, any prospectus supplement, any document incorporated by reference herein or elsewhere might not occur. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">v </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="rom770813_5"></A>MICHAEL KORS HOLDINGS LIMITED </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We are a rapidly growing global luxury lifestyle brand led by a world-class management team and a renowned, award-winning designer. Since
launching his namesake brand over 30 years ago, Michael Kors has featured distinctive designs, materials and craftsmanship with a jet-set aesthetic that combines stylish elegance and a sporty attitude. Mr.&nbsp;Kors&#146; vision has taken the
Company from its beginnings as an American luxury sportswear house to a global accessories, footwear and apparel company with a presence in over 95 countries. Over the years, we have successfully expanded beyond apparel into accessories (including
handbags, small leather goods, eyewear, jewelry and watches) and footwear, which together now account for the majority of our wholesale and retail sales. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">1 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="cov770813_1"></A>R<A NAME="rom770813_6"></A>ISK FACTORS </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>An investment in our ordinary shares involves risks. Before deciding whether to purchase our ordinary shares, you should consider the
risks discussed below or elsewhere in this prospectus, including the section of this prospectus entitled &#147;Cautionary Note Regarding Forward-Looking Statements,&#148; and those set forth under the heading &#147;Item 1A. Risk Factors&#148; in our
Annual Report on Form&nbsp;10-K for the fiscal year ended March&nbsp;29, 2014 that we have incorporated by reference into this prospectus. While we believe that these risks are the most important for you to consider, you should read this section in
conjunction with our financial statements, the notes to those financial statements and our management&#146;s discussion and analysis of financial condition and results of operations included in our periodic reports and incorporated into this
prospectus by reference. </I></FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Risks Related to Ownership of our Ordinary Shares </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Our share price may be volatile or may decline regardless of our operating performance. </I></B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The market price for our ordinary shares may be volatile. In addition, the market price for our ordinary shares may fluctuate
significantly in response to a number of factors, most of which we cannot control, including, among others: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">fashion trends and changes in consumer preferences; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">changes in general economic or market conditions or trends in our industry or the economy as a whole and, in particular, in the retail sales
environment; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the timing and level of expenses for new store openings, relocations and remodels and the relative proportion of our new stores to existing stores;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the performance and successful integration of any new stores that we open; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">changes in our merchandise mix and vendor base; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">changes in key personnel; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">entry into new markets; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">our levels of comparable store sales; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">announcements by us or our competitors of new product offerings or significant acquisitions, divestitures, strategic partnerships, joint ventures or
capital commitments; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">actions by competitors or other malls, lifestyle centers, street locations and strip center tenants; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">weather conditions, particularly during the holiday shopping period; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the level of pre-opening expenses associated with new stores; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">inventory shrinkage beyond our historical average rates; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">changes in operating performance and stock market valuations of other retail companies; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">investors&#146; perceptions of our prospects and the prospects of the retail industry; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">fluctuations in quarterly operating results, as well as differences between our actual financial and operating results and those expected by investors;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the public&#146;s response to press releases or other public announcements by us or third parties, including our filings with the SEC;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">announcements relating to litigation; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">guidance, if any, that we provide to the public, any changes in such guidance or our failure to meet such guidance; </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">changes in financial estimates or ratings by any securities analysts who follow our ordinary shares, our failure to meet such estimates or failure of
those analysts to initiate or maintain coverage of our ordinary shares; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the development and sustainability of an active trading market for our ordinary shares; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">investor perceptions of the investment opportunity associated with our ordinary shares relative to other investment alternatives;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">future sales of our ordinary shares by our officers, directors and significant shareholders; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">other events or factors, including those resulting from system failures and disruptions, hurricanes, wars, acts of terrorism, other natural disasters
or responses to such events; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">changes in accounting principles. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">These and other factors may lower the market price of our ordinary shares, regardless of our actual </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">operating performance. As a result, our ordinary shares may trade at prices significantly below the public </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">offering price of any future offering. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">In addition, the stock markets, including the NYSE, have experienced price and volume fluctuations that have affected and may in the future affect the market prices of equity securities of many companies.
In the past, shareholders have instituted securities class action litigation following periods of market volatility. If we were to become involved in securities litigation, we could incur substantial costs and our resources and the attention of
management could be diverted from our business. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>If securities or industry analysts do not publish research or publish inaccurate or
unfavorable research about us or our business, our share price and trading volume could decline. </I></B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The trading market
for our ordinary shares will depend in part on the research and reports that securities or industry analysts publish about us or our business. If one or more of the analysts who cover us downgrades our ordinary shares or publishes inaccurate or
unfavorable research about us or our business, our share price would likely decline. If one or more of these analysts cease coverage of us or fail to publish reports on us regularly, demand for our ordinary shares could decrease, which could cause
our share price and trading volume to decline. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>We do not expect to pay any cash dividends for the foreseeable future.
</I></B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We currently expect to retain all our future earnings for use in the operation and expansion of our business and do
not anticipate paying any cash dividends for the foreseeable future. The declaration and payment of future dividends to holders of our ordinary shares will be at the discretion of our board of directors and will depend upon many factors, including
our financial condition, earnings, legal requirements, restrictions in our debt agreements, including our $200.0 million senior unsecured revolving credit facility (as amended from time to time, the &#147;Credit Facility&#148;), and other factors
deemed relevant by our board of directors. As a holding company, our ability to pay dividends depends on our receipt of cash dividends from our operating subsidiaries, which may further restrict our ability to pay dividends as a result of the laws
of their respective jurisdictions of organization, agreements of our subsidiaries or covenants under future indebtedness that we or they may incur. In addition, under British Virgin Islands law, we may pay dividends to our shareholders only if,
immediately after the dividend, the value of our assets would exceed our liabilities and we would be able to pay our debts as they fall due. Accordingly, if you purchase ordinary shares, realization of a gain on your investment will depend upon the
appreciation of the price of our ordinary shares, which may never occur. Investors seeking cash dividends in the foreseeable future should not purchase our ordinary shares. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>As a holding company, our only material assets will be our equity interests in our operating subsidiaries, and our principal source of revenue and cash flow will be distributions from such
subsidiaries, which may be limited by law and/or contract in making such distributions. </I></B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As a holding company, our
principal source of revenue and cash flow will be distributions from our subsidiaries. Therefore, our ability to carry out our business plan, to fund and conduct our business, service our </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
debt (if any) and pay dividends (if any) in the future will depend on the ability of our subsidiaries to generate sufficient net income and cash flow to make upstream cash distributions to us.
Our subsidiaries are separate legal entities, and although they may be wholly owned or controlled by us, they have no obligation to make any funds available to us, whether in the form of loans, dividends or otherwise. The ability of our subsidiaries
to distribute cash to us will also be subject to, among other things, restrictions that are contained in our subsidiaries&#146; agreements (as entered into from time to time), availability of sufficient funds in such subsidiaries and applicable laws
and regulatory restrictions. Such restrictions include, without limitation, the restrictions on the payment of dividends contained in the Credit Facility. Claims of creditors of our subsidiaries generally will have priority as to the assets of such
subsidiaries over our claims and claims of our creditors and shareholders. To the extent the ability of our subsidiaries to distribute dividends or other payments to us could be limited in any way, this could materially limit our ability to fund and
conduct our business, service our debt (if any) and pay dividends (if any). </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">4 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="rom770813_7"></A>USE OF PROCEEDS </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">All of the ordinary shares offered by the selling shareholders pursuant to this prospectus will be sold by the selling shareholders for
their own accounts. We will not receive any of the proceeds from these sales. </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="rom770813_8"></A>SELLING
SHAREHOLDERS </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The selling shareholders may from time to time offer and sell pursuant to this prospectus our ordinary
shares. Any prospectus supplement relating to the offer and sale of our ordinary shares by selling shareholders will name the selling shareholders, the number of ordinary shares offered by such selling shareholders and the percentage of our
outstanding ordinary shares held by such selling shareholders prior to and after giving effect to the offering of ordinary shares contemplated by such prospectus supplement. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="rom770813_9"></A>DESCRIPTION OF SHARE CAPITAL </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>General </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We are a
company organized under the laws of the British Virgin Islands with limited liability. We are registered at the Registry of Corporate Affairs of the British Virgin Islands under number 524407, and our affairs are governed by the provisions of our
Memorandum and Articles of Association (together, as amended from time to time, our &#147;Memorandum and Articles of Association&#148;) and by the provisions of applicable British Virgin Islands law. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our Memorandum and Articles of Association authorizes the issuance of a maximum of 650,000,000 shares, comprised of one class of ordinary
shares, no par value. In addition, as further described under &#147;&#151;New Shares,&#148; our board of directors may create, authorize and issue, from time to time, one or more new classes of shares and fix the voting powers, full or limited, if
any, of the shares of such class or classes and the preferences and relative, participating, optional or other special rights and the qualifications, limitations and restrictions thereof. As of September&nbsp;2, 2014, there were 205,446,562 ordinary
shares issued and outstanding. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As stated in Section&nbsp;4 of our Memorandum of Association (General Objects and Powers), the
objects for which we are established are unrestricted, and we have full power and authority to carry out any object not prohibited by the BVI Business Companies Act, 2004 (as amended, the &#147;BVI Act&#148;) or any other law of the British Virgin
Islands, except that we may not: (i)&nbsp;carry on business with persons resident in the British Virgin Islands, other than professional contact with certain advisors; (ii)&nbsp;own an interest in real property situated in the British Virgin
Islands, other than certain leases; (iii)&nbsp;carry on banking or trust business, unless we are licensed to do so; (iv)&nbsp;carry on business as an insurance or re-insurance company, insurance agent or insurance broker, unless we are licensed to
do so; (v)&nbsp;carry on business of company management, unless we are licensed to do so; or (vi)&nbsp;carry on the business of providing the registered office or the registered agent for companies incorporated in the British Virgin Islands.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The following is a summary of the material provisions of our ordinary shares and our Memorandum and Articles of Association.
</FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Ordinary Shares </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The following summarizes the rights of holders of our ordinary shares: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">each holder of ordinary shares is entitled to one vote per ordinary share on all matters to be voted on by shareholders generally, including the
election of directors; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">there are no cumulative voting rights; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the holders of our ordinary shares are entitled to share ratably in dividends and other distributions as may be declared from time to time by our board
of directors out of funds legally available for that purpose, if any; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">upon our liquidation, dissolution or winding up, the holders of ordinary shares will be entitled to share ratably in the distribution of all of our
assets remaining available for distribution after satisfaction of all our liabilities. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>New Shares </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our board of directors is authorized to issue, from time to time, additional shares in one or more new classes of shares and, with respect
to each such class, to fix the voting powers, full or limited, if any, of the shares of such class and the preferences and relative, participating, optional or other special rights and the qualifications, limitations or restrictions thereof. The
authority of our board of directors with respect to the establishment of the </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">6 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
preferences and the relative, participating, optional or other special rights and the qualifications, limitations or restrictions of each new class of shares includes, but is not limited to, the
determination or fixing of the following: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the dividend rate of such class, the conditions and dates upon which such dividends will be payable, the relation that such dividends will bear to the
dividends payable on any other class or classes of the shares and whether such dividends shall be cumulative or non-cumulative; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">whether the shares of such class will be subject to redemption for cash, property or rights, including securities of the Company or of any other
corporation, by the Company at the option of either the Company or the holder or both or upon the happening of a specified event, and, if made subject to any such redemption, the times or events, prices and other terms and conditions of such
redemption; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the terms and amount of any sinking fund provided for the purchase or redemption of the shares of such class; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">whether or not the new class of shares will be convertible into, or exchangeable for, at the option of either the holder or the Company or upon the
happening of a specified event, shares of any other class or classes of our shares, and, if provision be made for conversion or exchange, the times or events, prices, rates, adjustments and other terms and conditions of such conversions or
exchanges; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the restrictions, if any, on the issue or reissue of any additional shares of such new class of shares; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the provisions as to voting (which may be one or more votes per share or a fraction of a vote per share), and the number of votes of the shares of such
new class of shares relative to the ordinary shares and any other new class of shares, optional and/or other special rights and preferences, if any, and whether the shares of such new class of shares shall vote separately from other classes of
shares of the Company; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the rights of the holders of the shares of such class upon the voluntary or involuntary liquidation, dissolution or winding up of the Company.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Limitation on Liability and Indemnification Matters </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under British Virgin Islands law, each of our directors and officers, in performing his or her functions, is required to act honestly and
in good faith with a view to our best interests and exercise the care, diligence and skill that a reasonably prudent director would exercise in comparable circumstances. Our Memorandum and Articles of Association provides that, to the fullest extent
permitted by British Virgin Islands law or any other applicable laws, our directors will not be personally liable to us or our shareholders for any acts or omissions in the performance of their duties. This limitation of liability does not affect
the availability of equitable remedies such as injunctive relief or rescission. These provisions will not limit the liability of directors under United States securities laws. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Our Memorandum and Articles of Association provides that we shall indemnify any of our directors, officers or anyone serving at our request as a director of another entity against all expenses, including
legal fees, and against all judgments, fines and amounts paid in settlement and reasonably incurred in connection with legal, administrative or investigative proceedings. If such person provides an undertaking to repay expense advances under certain
circumstances, we shall pay any expenses, including legal fees, incurred by any such person in defending any legal, administrative or investigative proceedings in advance of the final disposition of the proceedings. If a person to be indemnified has
been successful in defense of any proceedings referred to above, such person is entitled to be indemnified against all expenses, including legal fees, and against all judgments and fines reasonably incurred by such person in connection with the
proceedings. We are required to indemnify a director or officer only if he or she acted honestly and in good faith with a view to our best interests and, in the case of criminal proceedings, the director or officer had no reasonable cause to believe
that his or her conduct was unlawful. The decision of our board of directors as to whether the director or officer acted honestly and in good faith with a view to our best interests and as to whether the director or officer had no reasonable cause
to believe that his or her conduct was unlawful, is in the absence of fraud sufficient for the purpose of </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">7 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
indemnification, unless a question of law is involved. The termination of any proceedings by any judgment, order, settlement, conviction or the entry of no plea does not, by itself, create a
presumption that a director or officer did not act honestly and in good faith and with a view to our best interests or that the director or officer had reasonable cause to believe that his or her conduct was unlawful. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In addition, we have entered into indemnification agreements with our directors and officers pursuant to which we agreed to indemnify
them against a number of liabilities and expenses incurred by such persons in connection with claims made by reason of their being such a director or officer. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">We may purchase and maintain insurance in relation to any of our directors or officers against any liability asserted against the directors or officers and incurred by the directors or officers in that
capacity, whether or not we have or would have had the power to indemnify the directors or officers against the liability as provided in our Memorandum and Articles of Association. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Insofar as indemnification for liabilities arising under the Securities Act may be permitted for our directors or officers under the
foregoing provisions, we have been informed that in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable as a matter of United States law. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Shareholders&#146; Meetings and Consents </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The following summarizes certain relevant provisions of British Virgin Islands laws and our Memorandum and Articles of Association in relation to our shareholders&#146; meetings: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the board of directors may convene meetings of shareholders at such times and in such manner and places within or outside the British Virgin Islands as
the board considers necessary or desirable, provided that at least one meeting of shareholders must be held each year; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">upon the written request of shareholders entitled to exercise 30% or more of the voting rights in respect of a matter for which a meeting is requested,
the directors are required to convene a meeting of shareholders. Any such request must state the proposed purpose of the meeting; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">when convening a meeting, the board of directors must give not less than seven days&#146; notice of a meeting of shareholders to: (i)&nbsp;those
shareholders whose names on the date the notice is given appear as shareholders in our register of members and are entitled to vote at the meeting; and (ii)&nbsp;the other directors; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">a meeting of shareholders held in contravention of the requirement to give notice is valid if shareholders holding at least 90% of the total voting
rights on all the matters to be considered at the meeting have waived notice of the meeting, and for this purpose the presence of a shareholder at the meeting shall constitute waiver in relation to all the shares that such shareholder holds;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">a shareholder may be represented at a meeting of shareholders by a proxy who may speak and vote on behalf of the shareholder;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">a meeting of shareholders is duly constituted if, at the commencement of the meeting, there are present in person or by proxy not less than 50% of the
votes of the shares or class or series of shares entitled to vote on resolutions of shareholders to be considered at the meeting (a &#147;quorum&#148;); </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">if within two hours from the time appointed for the meeting a quorum is not present, the meeting, if convened upon the requisition of shareholders,
shall be dissolved; in any other case it shall be adjourned to the next business day in the jurisdiction in which the meeting was to have been held at the same time and place or to such other date, time and place as the directors may determine, and
if at the adjourned meeting there are present within one hour from the time appointed for the meeting in person or by proxy not less than one third of the votes of the shares or each class or series of shares entitled to
</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">8 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P><FONT STYLE="font-family:Times New Roman" SIZE="2">
vote on the matters to be considered by the meeting, those present shall constitute a quorum but otherwise the meeting shall be dissolved. Notice of the adjourned meeting need not be given if the
date, time and place of such meeting are announced at the meeting at which the adjournment is taken; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">a resolution of shareholders is valid only if approved at a duly convened and constituted meeting of shareholders by the affirmative vote of a majority
of the votes of the shares entitled to vote thereon that were present at the meeting and were voted; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">no action may be taken by shareholders except at a duly convened and constituted meeting of shareholders, and no action may be taken by shareholders by
written consent, unless the action to be effected by written consent of shareholders and the taking of such action by such written consent have expressly been approved in advance by our board of directors. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%;padding-bottom:0px; "><FONT STYLE="font-family:Times New Roman" SIZE="2">In addition, in order to nominate candidates for election as a director or propose topics for consideration at a
meeting of shareholders, shareholders must notify our secretary in writing prior to the meeting at which directors are to be elected or the proposals are to be acted upon, and such notice must contain the information specified in our Memorandum and
Articles of Association. To be timely, notice with respect to an annual meeting must generally be received, unless otherwise provided by mandatory law, not less than 90 days and no more than 120 days prior to the first anniversary of the preceding
year&#146;s annual meeting. If the date of such annual meeting is advanced by more than 30 days prior to, or delayed by more than 70 days after, the anniversary of the preceding year&#146;s annual meeting, or if no annual meeting was held in the
preceding year, the notice must be received not earlier than the 120</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2"> day prior to such annual meeting and not later than the later of the
90</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> day prior to such annual meeting and the 10</FONT><FONT
STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> day following the day on which the first public announcement of such
annual meeting is made. In the case of a special meeting of shareholders, notice must be received not earlier than the
120</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> day prior to such special meeting and not later than
the later of the 90</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> day prior to such special meeting
and the 10</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> day following the day on which the first
public announcement of such special meeting is made. Notwithstanding the foregoing, in the event that the number of directors to be elected to the board at an annual meeting is increased, and we do not make a public announcement naming the nominees
for the additional directorships at least 100 days prior to the first anniversary of the preceding year&#146;s annual meeting, a shareholder notice of nomination will also be considered timely, but only with respect to nominees for the additional
directorships, if it is delivered not later than the close of business on the 10</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">th</SUP></FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2"> day following the day on which such public announcement is first made. These notice requirements may preclude shareholders from nominating candidates for election as a director or proposing topics for
consideration at a meeting of shareholders. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Board of Directors </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The management of our Company is vested in a board of directors. Our Memorandum and Articles of Association provides that our board of
directors must be composed of between one and twelve members. The number of directors is determined from time to time by resolution of directors. Our directors are elected by resolution of shareholders at the annual meeting of shareholders, except
that in the case of a vacancy in the office of a director because of death, retirement, resignation, dismissal, removal or otherwise, the remaining directors may appoint a successor and fill such vacancy by resolution. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our board of directors is divided into three classes. Pursuant to our Memorandum and Articles of Association, our directors are appointed
at the annual meeting of shareholders for a period of three years, with each director serving until the third annual meeting of shareholders following their election. Upon the expiration of the term of a class of directors, directors in that class
will be elected for three-year terms at the annual meeting of shareholders in the year of such expiration, and the same directors will be eligible for re-election. Directors are not required to be shareholders and do not become ineligible to serve
based on age. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As of the date of this prospectus, our board of directors consists of nine members. A majority of the members
of the board then in office (and able to vote) present or represented at a board meeting constitutes a quorum, and resolutions are adopted by a simple majority vote of all votes cast. Our board of directors may also take action by means of a written
consent signed by a majority of directors. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">9 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our board of directors may delegate the daily management of our business, as well as the
power to represent us in our day to day business, to individual directors, officers or other agents of the Company (with the power to sub-delegate). In addition, our board of directors may delegate the daily management of our business, as well as
the power to represent us in our day-to-day business, to a committee as it deems fit. The board may determine the conditions of appointment and dismissal as well as the remuneration and powers of any persons or committees so appointed. The board may
also determine the purpose, powers and authorities as well as the procedures and such other rules as may be applicable to committees it creates. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Differences in Corporate Law </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We were incorporated under, and are governed
by, the laws of the British Virgin Islands. The corporate statutes of the State of Delaware and the British Virgin Islands are similar, and the flexibility available under British Virgin Islands law has enabled us to adopt a memorandum and articles
of association that will provide shareholders with rights that do not vary in any material respect from those they would enjoy if we were incorporated under Delaware law. Set forth below is a summary of some of the differences between provisions of
the BVI Act applicable to us and the laws applicable to companies incorporated in Delaware and their shareholders. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Director&#146;s
Fiduciary Duties </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under Delaware corporate law, a director of a Delaware corporation has a fiduciary duty to the
corporation and its shareholders. This duty has two components: the duty of care and the duty of loyalty. The duty of care requires that a director act in good faith, with the care that an ordinarily prudent person would exercise under similar
circumstances. Under this duty, a director must inform himself of, and disclose to shareholders, all material information reasonably available regarding a significant transaction. The duty of loyalty requires that a director act in a manner he
reasonably believes to be in the best interests of the corporation. He must not use his corporate position for personal gain or advantage. This duty prohibits self-dealing by a director and mandates that the best interest of the corporation and its
shareholders take precedence over any interest possessed by a director, officer or controlling shareholder and not shared by the shareholders generally. In general, actions of a director are presumed to have been made on an informed basis, in good
faith and in the honest belief that the action taken was in the best interests of the corporation. However, this presumption may be rebutted by evidence of a breach of one of the fiduciary duties. Should such evidence be presented concerning a
transaction by a director, a director must prove the procedural fairness of the transaction, and that the transaction was of fair value to the corporation. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">British Virgin Islands law provides that every director of a British Virgin Islands company in exercising his powers or performing his duties, shall act honestly and in good faith and in what the director
believes to be in the best interests of the company. Additionally, the director shall exercise the care, diligence, and skill that a reasonable director would exercise in the same circumstances taking into account the nature of the company, the
nature of the decision and the position of the director and his responsibilities. In addition, British Virgin Islands law provides that a director shall exercise his powers as a director for a proper purpose and shall not act, or agree to the
company acting, in a manner that contravenes British Virgin Islands law or the memorandum and articles of association of the company. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Amendment of Governing Documents </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Under Delaware corporate law, with very limited exceptions, a vote of the shareholders of a corporation is required to amend the certificate of incorporation. In addition, Delaware corporate law provides
that shareholders have the right to amend the corporation&#146;s bylaws, but the certificate of incorporation may confer such right on the directors of the corporation. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">10 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our Memorandum and Articles of Association can generally be amended by a majority vote of
our shareholders. However, certain provisions of our Memorandum and Articles of Association can be amended only by the affirmative vote of 75% of the shares entitled to vote on such matter, including the provisions relating to: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the composition and manner of election of our board of directors and the ability to remove directors; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the ability of shareholders to take action by written consent, call meetings, nominate directors and bring proposals before meetings; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">this requirement of the affirmative vote of 75% of the shares entitled to vote to amend certain provisions of our Memorandum and Articles of
Association. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In addition, pursuant to our Memorandum and Articles of Association, our board of directors
may amend our Memorandum and Articles of Association by a resolution of directors without a requirement for a resolution of shareholders so long as the amendment does not: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">restrict the rights or powers of the shareholders to amend our Memorandum and Articles of Association; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">change the percentage of shareholders required to pass a resolution of shareholders to amend our Memorandum and Articles of Association; or
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">amend our Memorandum and Articles of Association in circumstances where it cannot be amended by the shareholders, including any provisions that our
Memorandum and Articles of Association specifies cannot be amended, of which there are currently none. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Written
Consent of Directors </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under Delaware corporate law, a written consent of the directors must be unanimous to take
effect. Under British Virgin Islands law and our Memorandum and Articles of Association, only a majority of the directors are required to sign a written consent. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>Written Consent of Shareholders </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under Delaware corporate law,
unless otherwise provided in the certificate of incorporation, any action to be taken at any annual or special meeting of shareholders of a corporation may be taken by written consent of the holders of outstanding stock having not less than the
minimum number of votes that would be necessary to take that action at a meeting at which all shareholders entitled to vote were present and voted. As permitted by British Virgin Islands law, our Memorandum and Articles of Association provides that
no shareholder action may be taken by written consent. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Shareholder Proposals </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under Delaware corporate law, a shareholder has the right to put any proposal before the annual meeting of shareholders, provided it
complies with the notice provisions in the governing documents. A special meeting may be called by the board of directors or any other person authorized to do so in the governing documents, but shareholders may be precluded from calling special
meetings. British Virgin Islands law and our Memorandum and Articles of Association provide that our directors shall call a meeting of the shareholders if requested in writing to do so by shareholders entitled to exercise at least 30% of the voting
rights in respect of the matter for which the meeting is requested, provided that any such request must state the proposed purpose of the meeting. In addition, to put any proposal before any meeting of shareholders, a shareholder must comply with
the notice procedures set forth in our Memorandum and Articles of Association. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Sale of Assets </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under Delaware corporate law, a vote of the shareholders is required to approve a sale of assets only when all or substantially all assets
are being sold to a person other than a subsidiary of the Company. Under British </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">11 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
Virgin Islands law generally, shareholder approval is required when more than 50% of a company&#146;s total assets by value are being disposed of or sold to any person if not made in the usual or
regular course of the business carried out by the company. Under our Memorandum and Articles of Association, however, shareholder approval is not required for any sale, transfer, lease, exchange or other disposition by us of more than 50% percent in
value of our assets if such disposition is made to one or more of our subsidiaries. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Dissolution; Winding Up </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under Delaware corporate law, unless the board of directors approves the proposal to dissolve, dissolution must be approved by
shareholders holding 100% of the total voting power of the corporation. Only if the dissolution is initiated by the board of directors may it be approved by a simple majority of the corporation&#146;s outstanding shares. Delaware corporate law
allows a Delaware corporation to include in its certificate of incorporation a supermajority voting requirement in connection with dissolutions initiated by the board. As permitted by British Virgin Islands law and our Memorandum and Articles of
Association, we may be voluntarily liquidated under Part XII of the BVI Act by resolution of shareholders if we have no liabilities or we are able to pay our debts as they fall due. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>Redemption of Shares </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under Delaware corporate law, any stock may be
made subject to redemption by the corporation at its option, at the option of the holders of that stock or upon the happening of a specified event, provided shares with full voting power remain outstanding. The stock may be made redeemable for cash,
property or rights, as specified in the certificate of incorporation or in the resolution of the board of directors providing for the issue of the stock. As permitted by British Virgin Islands law and our Memorandum and Articles of Association,
shares may be repurchased, redeemed or otherwise acquired by us. However, the consent of the shareholder whose shares are to be repurchased, redeemed or otherwise acquired must be obtained, except as specified in the terms of the applicable class or
series of shares or as described under &#147;&#151;Compulsory Acquisition&#148; below. In addition, our directors must determine that, immediately following the redemption or repurchase, we will be able to pay our debts as they fall due and that the
value of our assets will exceed our liabilities. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Compulsory Acquisition </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under Delaware General Corporation Law &#167; 253, in a process known as a &#147;short form&#148; merger, a corporation that owns at least
90% of the outstanding shares of each class of stock of another corporation may either merge the other corporation into itself and assume all of its obligations or merge itself into the other corporation by executing, acknowledging and filing with
the Delaware Secretary of State a certificate of such ownership and merger setting forth a copy of the resolution of its board of directors authorizing such merger. If the parent corporation is a Delaware corporation that is not the surviving
corporation, the merger also must be approved by a majority of the outstanding stock of the parent corporation. If the parent corporation does not own all of the stock of the subsidiary corporation immediately prior to the merger, the minority
shareholders of the subsidiary corporation party to the merger may have appraisal rights as set forth in &#167; 262 of the Delaware General Corporation Law. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Under the BVI Act, subject to any limitations in a company&#146;s memorandum and articles of association, members holding 90% of the votes of the outstanding shares entitled to vote, and members holding
90% of the votes of the outstanding shares of each class of shares entitled to vote, may give a written instruction to the company directing the company to redeem the shares held by the remaining members. Upon receipt of such written instruction,
the company shall redeem the shares specified in the written instruction, irrespective of whether or not the shares are by their terms redeemable. The company shall give written notice to each member whose shares are to be redeemed stating the
redemption price and the manner in which the redemption is to be effected. A member whose shares are to be so redeemed is entitled to dissent from such redemption and to be paid the fair value of his shares, as described under
&#147;&#151;Shareholders&#146; Rights under British Virgin Islands Law Generally&#148; below. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">12 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Variation of Rights of Shares </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under Delaware corporate law, a corporation may vary the rights of a class of shares with the approval of a majority of the outstanding
shares of that class, unless the certificate of incorporation provides otherwise. As permitted by British Virgin Islands law and our Memorandum and Articles of Association, we may vary the rights attached to any class of shares following a
resolution of shareholders passed at a meeting of shareholders by holders of not less than 50% of the issued shares of that class and holders of not less than 50% of the issued shares of any other class which may be adversely affected by such
variation. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Election of Directors </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Under Delaware corporate law, unless otherwise specified in the certificate of incorporation or bylaws of a corporation, directors are elected by a plurality of the votes of the shares entitled to vote on
the election of directors. As permitted by British Virgin Islands law, and pursuant to our Memorandum and Articles of Association, directors (other than directors being appointed by the holders of a newly created class of shares) shall be elected by
resolution of members at the annual meeting of members. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Removal of Directors </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under Delaware corporate law, a director of a corporation with a classified board may be removed only for cause with the approval of a
majority of the outstanding shares entitled to vote, unless the certificate of incorporation provides otherwise. Similarly, as permitted by British Virgin Islands law, our Memorandum and Articles of Association provides that directors may be removed
at any time, for cause only, by a resolution of shareholders approved by a majority of the shares entitled to vote on such matter. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Mergers </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under
Delaware corporate law, one or more constituent corporations may merge into and become part of another constituent corporation in a process known as a merger. A Delaware corporation may merge with a foreign corporation as long as the law of the
foreign jurisdiction permits such a merger. To effect a merger under Delaware General Corporation Law &#167; 251, an agreement of merger must be properly adopted and the agreement of merger or a certificate of merger must be filed with the Delaware
Secretary of State. In order to be properly adopted, the agreement of merger must be adopted by the board of directors of each constituent corporation by a resolution or unanimous written consent. In addition, the agreement of merger generally must
be approved at a meeting of shareholders of each constituent corporation by a majority of the outstanding stock of the corporation entitled to vote, unless the certificate of incorporation provides for a supermajority vote. In general, the surviving
corporation assumes all of the assets and liabilities of the disappearing corporation or corporations as a result of the merger. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Under the BVI Act, two or more companies may merge or consolidate in accordance with the statutory provisions. A merger means the merging of two or more constituent companies into one of the constituent
companies, and a consolidation means the uniting of two or more constituent companies into a new company. In order to merge or consolidate, the directors of each constituent company must approve a written plan of merger or consolidation, which must
be authorized by a resolution of shareholders. One or more companies may also merge or consolidate with one or more companies incorporated under the laws of jurisdictions outside the British Virgin Islands if the merger or consolidation is permitted
by the laws of the jurisdictions in which the companies incorporated outside the British Virgin Islands are incorporated. In respect of such a merger or consolidation, a British Virgin Islands company is required to comply with the provisions of the
BVI Act, and a company incorporated outside the British Virgin Islands is required to comply with the laws of its jurisdiction of incorporation. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">13 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Shareholders not otherwise entitled to vote on the merger or consolidation may still acquire
the right to vote if the plan of merger or consolidation contains any provision that, if proposed as an amendment to the memorandum and articles of association, would entitle them to vote as a class or series on the proposed amendment. In any event,
all shareholders must be given a copy of the plan of merger or consolidation irrespective of whether they are entitled to vote at the meeting or consent to the written resolution to approve the plan of merger or consolidation. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Inspection of Books and Records </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Under Delaware corporate law, any shareholder of a corporation may for any proper purpose inspect or make copies of the corporation&#146;s stock ledger, list of shareholders and other books and records.
Under British Virgin Islands law, members of the general public, on payment of a nominal fee, can obtain copies of the public records of a company available at the office of the British Virgin Islands Registrar of Corporate Affairs, including the
company&#146;s certificate of incorporation, its memorandum and articles of association (with any amendments), records of license fees paid to date, any articles of dissolution, any articles of merger and a register of charges if the company has
elected to file such a register. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">A shareholder of a company is entitled, on giving written notice to the company, to inspect:
</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">the memorandum and articles of association; </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">the register of members; </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">the register of directors; and </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">the minutes of meetings and resolutions of shareholders and of those classes of shares of which he is a shareholder. </FONT></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In addition, a shareholder may make copies of or take extracts from the documents and records referred to in (a)&nbsp;through
(d)&nbsp;above. However, subject to the memorandum and articles of association of the company, the directors may, if they are satisfied that it would be contrary to the company&#146;s interests to allow a shareholder to inspect any document, or part
of any document, specified in (b), (c)&nbsp;or (d)&nbsp;above, refuse to permit the shareholder to inspect the document or limit the inspection of the document, including limiting the making of copies or the taking of extracts from the records.
Where a company fails or refuses to permit a shareholder to inspect a document or permits a shareholder to inspect a document subject to limitations, that shareholder may apply to the court for an order that he should be permitted to inspect the
document or to inspect the document without limitation. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Where a company keeps a copy of the register of members or the
register of directors at the office of its registered agent, it is required to notify the registered agent of any changes to the originals of such registers, in writing, within 15 days of any change; and to provide the registered agent with a
written record of the physical address of the place or places at which the original register of members or the original register of directors is kept. Where the place at which the original register of members or the original register of directors is
changed, the company is required to provide the registered agent with the physical address of the new location of the records within 14 days of the change of location. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">A company is also required to keep at the office of its registered agent or at such other place or places, within or outside the British Virgin Islands, as the directors determine the minutes of meetings
and resolutions of shareholders and of classes of shareholders, and the minutes of meetings and resolutions of directors and committees of directors. If such records are kept at a place other than at the office of the company&#146;s registered
agent, the company is required to provide the registered agent with a written record of the physical address of the place or places at which the records are kept and to notify the registered agent, within 14 days, of the physical address of any new
location where such records may be kept. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">14 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Conflict of Interest </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Under Delaware corporate law, a contract between a corporation and a director or officer, or between a corporation and any other organization in which a director or officer has a financial interest, is
not void as long as (i)&nbsp;the material facts as to the director&#146;s or officer&#146;s relationship or interest are disclosed or known and (ii)&nbsp;either a majority of the disinterested directors authorizes the contract in good faith or the
shareholders vote in good faith to approve the contract. Nor will any such contract be void if it is fair to the corporation when it is authorized, approved or ratified by the board of directors, a committee or the shareholders. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The BVI Act provides that a director shall, forthwith after becoming aware that he is interested in a transaction entered into or to be
entered into by the company, disclose that interest to the board of directors of the company. The failure of a director to disclose that interest does not affect the validity of a transaction entered into by the director or the company, so long as
the director&#146;s interest was disclosed to the board prior to the company&#146;s entry into the transaction or was not required to be disclosed because the transaction is between the company and the director himself and is otherwise in the
ordinary course of business and on usual terms and conditions. As permitted by British Virgin Islands law and our Memorandum and Articles of Association, a director interested in a particular transaction may vote on it, attend meetings at which it
is considered and sign documents on our behalf that relate to the transaction, provided that the disinterested directors consent. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Transactions with Interested Shareholders </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Delaware corporate law contains a business combination statute applicable to Delaware public corporations whereby, unless the corporation has specifically elected not to be governed by that statute by
amendment to its certificate of incorporation, it is prohibited from engaging in certain business combinations with an &#147;interested shareholder&#148; for three years following the date that the person becomes an interested shareholder. An
interested shareholder generally is a person or group that owns or owned 15% or more of the company&#146;s outstanding voting stock within the past three years. This statute has the effect of limiting the ability of a potential acquirer to make a
two-tiered bid for the company in which all shareholders would not be treated equally. The statute does not apply if, among other things, prior to the date on which the shareholder becomes an interested shareholder, the board of directors approves
either the business combination or the transaction that resulted in the person becoming an interested shareholder. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">British
Virgin Islands law has no comparable provision. However, although British Virgin Islands law does not regulate transactions between a company and its significant shareholders, it does provide that these transactions must be entered into in the
<I>bona fide</I> best interests of the company and not with the effect of constituting a fraud on the minority shareholders. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Independent Directors </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">There are no provisions under Delaware corporate law or under the BVI Act that require a majority of our directors to be independent. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>Cumulative Voting </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under Delaware corporate law, cumulative voting
for elections of directors is not permitted unless the company&#146;s certificate of incorporation specifically provides for it. Cumulative voting potentially facilitates the representation of minority shareholders on a board of directors since it
permits the minority shareholder to cast all the votes to which the shareholder is entitled on a single director, which increases the shareholder&#146;s voting power with respect to electing such director. There are no prohibitions on cumulative
voting under the laws of the British Virgin Islands, but our Memorandum and Articles of Association does not provide for cumulative voting. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">15 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Shareholders&#146; Rights under British Virgin Islands Law Generally </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The BVI Act provides for certain remedies that may be available to shareholders. Where a company incorporated under the BVI Act or any of
its directors engages in, or proposes to engage in, conduct that contravenes the BVI Act or the company&#146;s memorandum and articles of association, British Virgin Islands courts can issue a restraining or compliance order. However, shareholders
cannot also bring derivative, personal and representative actions under certain circumstances. The traditional English basis for members&#146; remedies has also been incorporated into the BVI Act: where a shareholder of a company considers that the
affairs of the company have been, are being or are likely to be conducted in a manner likely to be oppressive, unfairly discriminating or unfairly prejudicial to him, he may apply to the court for an order based on such conduct. In addition, any
shareholder of a company may apply to the courts for the appointment of a liquidator of the company and the court may appoint a liquidator of the company if it is of the opinion that it is just and equitable to do so. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The BVI Act also provides that any shareholder of a company is entitled to payment of the fair value of his shares upon dissenting from
any of the following: (i)&nbsp;a merger, if the company is a constituent company, unless the company is the surviving company and the member continues to hold the same or similar shares; (ii)&nbsp;a consolidation, if the company is a constituent
company; (iii)&nbsp;any sale, transfer, lease, exchange or other disposition of more than 50% in value of the assets or business of the company if not made in the usual or regular course of the business carried on by the company but not including
(a)&nbsp;a disposition pursuant to an order of the court having jurisdiction in the matter, (b)&nbsp;a disposition for money on terms requiring all or substantially all net proceeds to be distributed to the shareholders in accordance with their
respective interest within one year after the date of disposition, or (c)&nbsp;a transfer pursuant to the power of the directors to transfer assets for the protection thereof; (iv)&nbsp;a redemption of 10% or fewer of the issued shares of the
company required by the holders of 90% or more of the shares of the company pursuant to the terms of the BVI Act; and (v)&nbsp;an arrangement, if permitted by the court. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Generally any other claims against a company by its shareholders must be based on the general laws of contract or tort applicable in the British Virgin Islands or their individual rights as shareholders
as established by a company&#146;s memorandum and articles of association. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">16 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="rom770813_10"></A>PLAN OF DISTRIBUTION </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The selling shareholders may sell or otherwise dispose of our ordinary shares covered by this prospectus: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">through underwriters or dealers; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">through agents; or </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">directly to purchasers. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">We will describe in the applicable prospectus supplement the particular terms of the offering of our ordinary shares, including the following: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the names of any underwriters or dealers; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the method of distribution; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the purchase price and the proceeds the selling shareholders will receive from the sale; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">any underwriting discounts and other items constituting underwriters&#146; compensation; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">any initial public offering price and any discounts or concessions allowed or reallowed or paid to dealers; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">any other information we believe to be material. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">If the selling shareholders use one or more underwriters in the sale, such underwriter(s) will acquire the ordinary shares covered by this prospectus for their own account. The underwriters may resell the
ordinary shares in one or more transactions, including negotiated transactions, at a fixed public offering price or at varying prices determined at the time of sale. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The selling shareholders may sell or otherwise dispose of the ordinary shares covered by this prospectus through agents designated by the selling shareholders. Any agent involved in the offer or sale or
other disposition of the ordinary shares for which this prospectus and the applicable prospectus supplement is delivered will be named, and any commissions payable to that agent will be set forth, in the prospectus supplement. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The selling shareholders may also sell or otherwise dispose of the ordinary shares covered by this prospectus directly to purchasers. In
this case, no underwriters, dealers or agents would be involved. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Such sales may be effected: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">in transactions on any national securities exchange or quotation service on which the securities may be listed or quoted at the time of sale;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">in transactions in the over-the-counter market; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">in block transactions in which the broker or dealer so engaged will attempt to sell the securities as agent but may position and resell a portion of
the block as principal to facilitate the transaction, or in crosses, in which the same broker acts as an agent on both sides of the trade; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">through the writing of options; or </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">through other types of transactions. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The selling shareholders may from time to time enter into hedging transactions with third parties, which may in turn engage in short sales of the ordinary shares in the course of hedging in positions they
assume. The selling shareholders may also sell ordinary shares covered by this prospectus short pursuant to this prospectus and deliver ordinary shares covered by this prospectus to close out short positions and to return borrowed shares in
connection with such short sales. The selling shareholders may also engage in derivatives transactions relating to the ordinary shares and may sell or deliver shares in connection with those transactions subject to applicable law. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">17 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under the securities laws of some states, the ordinary shares covered by this prospectus may
not be sold unless such shares have been registered or qualified for sale in such state or an exemption from registration or qualification is available and is complied with. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The selling shareholders might not sell any ordinary shares under this prospectus. In addition, any ordinary shares covered by this prospectus that qualify for sale pursuant to Rule 144 under the
Securities Act may be sold under Rule 144 rather than pursuant to this prospectus. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">18 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="rom770813_11"></A>SERVICE OF PROCESS AND ENFORCEMENT OF LIABILITIES
</B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We are incorporated and currently existing under the laws of the British Virgin Islands. In addition, certain of our
directors and officers reside outside of the United States and most of the assets of our non-U.S. subsidiaries are located outside of the United States. As a result, it may be difficult for investors to effect service of process on us or those
persons in the United States or to enforce in the United States judgments obtained in United States courts against us or those persons based on the civil liability or other provisions of the United States securities laws or other laws. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In addition, uncertainty exists as to whether the courts of the British Virgin Islands would: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">recognize or enforce judgments of United States courts obtained against us or our directors or officers predicated upon the civil liabilities
provisions of the securities laws of the United States or any state in the United States; or </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">entertain original actions brought in the British Virgin Islands against us or our directors or officers predicated upon the securities laws of the
United States or any state in the United States. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We have been advised by Harney, Westwood&nbsp;&amp;
Riegels, Tortola, British Virgin Islands, that the United States and the British Virgin Islands do not have a treaty providing for reciprocal recognition and enforcement of judgments of United States courts in civil and commercial matters and that a
final judgment for the payment of money rendered by any general or state court in the United States based on civil liability, whether or not predicated solely upon the United States securities laws, would not be automatically enforceable in the
British Virgin Islands. We have also been advised by Harney, Westwood&nbsp;&amp; Riegels that any final and conclusive monetary judgment for a definite sum obtained against us in United States courts would be treated by the courts of the British
Virgin Islands as a cause of action in itself and sued upon as a debt at common law so that no retrial of the issues would be necessary, provided that: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the British Virgin Islands courts had jurisdiction over the matter and we either submitted to such jurisdiction or were resident or carrying on
business within such jurisdiction and were duly served with process; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the judgment given by the courts was not in respect of penalties, taxes, fines or similar fiscal or revenue obligations; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the judgment was not procured by fraud; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">recognition or enforcement of the judgment in the British Virgin Islands would not be contrary to public policy; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the proceedings pursuant to which judgment was obtained were not contrary to natural justice. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Whether these requirements are met in respect of a judgment based upon the civil liability provisions of the United States securities
laws, including whether the award of monetary damages under such laws would constitute a penalty, is an issue for the British Virgin Islands court making such decision. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">19 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="rom770813_12"></A>LEGAL MATTERS </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Unless otherwise indicated in the applicable prospectus supplement, certain legal matters will be passed upon for us by Paul, Weiss,
Rifkind, Wharton&nbsp;&amp; Garrison LLP, New York, New York. The validity of our ordinary shares and certain other matters with respect to the laws of the British Virgin Islands have been passed upon for us by Harney, Westwood&nbsp;&amp; Riegels,
Tortola, British Virgin Islands. </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="rom770813_13"></A>EXPERTS </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The consolidated financial statements of the Company incorporated by reference into the Company&#146;s Annual Report on Form 10-K for the
fiscal year ended March 29, 2014 and the effectiveness of the Company&#146;s internal control over financial reporting as of March 29, 2014 have been audited by Ernst &amp; Young LLP, an independent registered public accounting firm, as set forth in
their reports thereon, incorporated by reference therein, and incorporated herein by reference. Such consolidated financial statements and the Company&#146;s management&#146;s assessment of the effectiveness of internal control over financial
reporting as of March 29, 2014 are incorporated herein by reference in reliance upon such reports given on the authority of such firm as experts in accounting and auditing. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The financial statements as of March 30, 2013 and for each of the two years in the period ended March&nbsp;30, 2013 incorporated in this prospectus by reference to the Annual Report on Form 10-K for the
year ended March 29, 2014 have been so incorporated in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting. </FONT></P>
<P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="rom770813_14"></A>WHERE YOU CAN FIND MORE INFORMATION </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We have filed with the SEC a registration statement on Form S-3 under the Securities Act with respect to the ordinary shares offered
under this prospectus. For the purposes of this section, the term registration statement means the original registration statement and any and all amendments including the schedules and exhibits to the original registration statement or any
amendment. This prospectus does not contain all of the information set forth in the registration statement we filed. For further information regarding us and the ordinary shares offered in this prospectus, you may desire to review the full
registration statement, including the exhibits. The registration statement, including its exhibits and schedules, may be inspected and copied at the public reference facilities maintained by the SEC at 100 F Street, N.E., Room 1580, Washington, D.C.
20549. You may obtain information on the operation of the public reference room by calling 1-800-SEC-0330. Copies of such materials are also available by mail from the Public Reference Branch of the SEC at 100 F Street, N.E., Washington, D.C. 20549
at prescribed rates. In addition, the SEC maintains a website (<I>http://www.sec.gov</I>) from which interested persons can electronically access the registration statement, including the exhibits and schedules to the registration statement.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We are also subject to periodic reporting and other informational requirements of the Securities Exchange Act of 1934, as
amended (the &#147;Exchange Act&#148;). Accordingly, we file annual, quarterly and current reports, proxy statements and other information with the SEC under the Exchange Act. </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="rom770813_15"></A>INCORPORATION BY REFERENCE OF CERTAIN DOCUMENTS </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This prospectus incorporates documents by reference that are not presented in or delivered with this prospectus. This is known as
&#147;incorporation by reference.&#148; The following documents, which have been filed by us with the SEC are incorporated by reference into this prospectus: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our Annual Report on Form 10-K for the year ended March&nbsp;29, 2014 filed with the SEC on May&nbsp;28, 2014 (our &#147;Form 10-K&#148;);
</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">20 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">The information responsive to Part III of our Form 10-K for the year ended March 29, 2014 provided in our Proxy Statement on Schedule 14A filed on June
17, 2014; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our Quarterly Report on Form 10-Q for the quarter ended June 28, 2014 filed with the SEC on August&nbsp;7, 2014; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Our Current Reports on Form 8-K filed with the SEC on May 12, 2014 and August 6, 2014; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">The description of our ordinary shares contained in our Registration Statement on Form 8-A (filed on December&nbsp;8, 2011).
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We also incorporate by reference into this prospectus any further filings we make with the SEC under
Sections&nbsp;13(a), 13(c), 14 or 15(d) of the Exchange Act (other than portions of those made pursuant to Item&nbsp;2.02 or Item&nbsp;7.01 of <FONT STYLE="white-space:nowrap">Form&nbsp;8-K</FONT> or other information &#147;furnished&#148; and not
filed with the SEC), including all filings filed after the date hereof and prior to the completion of an offering of securities under this prospectus. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">We have not authorized anyone to provide you with any different or additional information other than that contained in or incorporated by reference into this prospectus. We take no responsibility for, and
can provide no assurance as to the reliability of, any other information that others may provide. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Any statement contained in
a document incorporated or deemed to be incorporated by reference into this prospectus will be deemed to be modified or superseded for purposes of this prospectus to the extent that a statement contained in this prospectus or any other subsequently
filed document that is deemed to be incorporated by reference into this prospectus modifies or supersedes the statement. Any statement so modified or superseded will not be deemed, except as so modified or superseded, to constitute a part of this
prospectus. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The documents incorporated by reference into this prospectus are available from us upon request. We will provide
a copy of any and all of the information that is incorporated by reference in this prospectus to any person, including a beneficial owner, to whom a prospectus is delivered, without charge, upon written or oral request. If exhibits to the documents
incorporated by reference in this prospectus are not themselves specifically incorporated by reference in this prospectus, then the exhibits will not be provided. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Requests for any of these documents should be directed to: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Michael Kors Holdings
Limited </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">c/o Michael Kors Limited </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Unit 1902, 19/F, Tower 6 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Gateway, Harbour City </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">Tsim Sha Tsui, Kowloon, Hong Kong </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(852)&nbsp;3928-5563 </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">21 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:60px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>11,629,627 Ordinary Shares </B></FONT></P>
<P STYLE="font-size:60px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center">


<IMG SRC="g770808g21x10.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>Michael Kors Holdings Limited </B></FONT></P>
<P STYLE="font-size:60px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>PROSPECTUS SUPPLEMENT </B></FONT></P><center>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:60px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>J.P.&nbsp;Morgan </B></FONT></P> <P STYLE="margin-top:60px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">September &nbsp;&nbsp;&nbsp;&nbsp;, 2014 </FONT></P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g770808g21x10.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g770808g21x10.jpg
M_]C_X``02D9)1@`!`@$`8`!@``#_[1,R4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``8`````$``0!@`````0`!.$))300-```````$````'CA"24T$&0``
M````!````!XX0DE-`_,```````D```````````$`.$))300*```````!```X
M0DE-)Q````````H``0`````````".$))30/U``````!(`"]F9@`!`&QF9@`&
M```````!`"]F9@`!`*&9F@`&```````!`#(````!`%H````&```````!`#4`
M```!`"T````&```````!.$))30/X``````!P``#_____________________
M________`^@`````_____________________________P/H`````/______
M______________________\#Z`````#_____________________________
M`^@``#A"24T$"```````$`````$```)````"0``````X0DE-!!X```````0`
M````.$))300:``````!M````!@``````````````U````-\````&`&<`,@`Q
M`'@`,0`P`````0`````````````````````````!``````````````#?````
MU``````````````````````````````````````````````X0DE-!!$`````
M``$!`#A"24T$%```````!`````(X0DE-!`P`````$)4````!````<````&H`
M``%0``"+(```$'D`&``!_]C_X``02D9)1@`!`@$`2`!(``#_[@`.061O8F4`
M9(`````!_]L`A``,"`@("0@,"0D,$0L*"Q$5#PP,#Q48$Q,5$Q,8$0P,#`P,
M#!$,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,`0T+"PT.#1`.#A`4#@X.
M%!0.#@X.%!$,#`P,#!$1#`P,#`P,$0P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,
M#`P,#`S_P``1"`!J`'`#`2(``A$!`Q$!_]T`!``'_\0!/P```04!`0$!`0$`
M`````````P`!`@0%!@<("0H+`0`!!0$!`0$!`0`````````!``(#!`4&!P@)
M"@L0``$$`0,"!`(%!P8(!0,,,P$``A$#!"$2,05!46$3(G&!,@84D:&Q0B,D
M%5+!8C,T<H+10P<EDE/PX?%C<S46HK*#)D235&1%PJ-T-A?25>)E\K.$P]-U
MX_-&)Y2DA;25Q-3D]*6UQ=7E]59F=H:6IK;&UN;V-T=79W>'EZ>WQ]?G]Q$`
M`@(!`@0$`P0%!@<'!@4U`0`"$0,A,1($05%A<2(3!3*!D12AL4(CP5+1\#,D
M8N%R@I)#4Q5C<S3Q)086HK*#!R8UPM)$DU2C%V1%539T9>+RLX3#TW7C\T:4
MI(6TE<34Y/2EM<75Y?569G:&EJ:VQM;F]B<W1U=G=X>7I[?'_]H`#`,!``(1
M`Q$`/P#CB3)U2D^*1Y*28N5)\4I/BDK?2^D]1ZQEC#Z;0;[M"\_196T_X2^T
M^VIG_@EG^"KL24U-4]+;+[?1QVOOM_T=376._P`RH/<O3NB?XKNEXS6V]9L/
M4+^32)9CM/AL;^EO_P"O/]-__<==CBXF)ATBC$IKQZ6\5U-#&C^Q6&M1I5OB
M-?U9^LUHEG2LN/Y599_Y^-:5GU9^LU0E_2LN/Y-9?^%)L7N-EU50FQ[6`_O$
M#\J5=U5HFM[7@?ND'\B-(M^?;FV46>CD-?1;_H[6NK=_F6ACDVJ^@,K$Q,RH
MT9=->12[FNUH>T_V'AS5Q_6_\5_2\IKK>C6'IV1R*3+\=QUT]-WZ2C_K#_39
M_P!QWH4FWR^3XI2?%6^J=)ZCT?+.'U*@T7:EA^DRQH_PF/:/;:S_`,$K_P`+
M76JB"E2?%."=P^(3)#Z0^(24_P#_T../)22/)4\?'R,O(JQ,5GJ9&0]M5+.)
M>XPW<?S6-^E8[_1IBYT?JW]7<WZQ=0^R8Y].FJ'9>3$BMAX#?W\BW_`U_P#7
M%[+TCH_3^BX+,'I]0JI9JX\N>\_3NN?]*RU_[Z#]7>A8W0>E5=/Q_<6^^^Z(
M-EKOYVY_];\S_1U>G5^8N/\`\8'UUM9;9T+I%I8YGMS\JLP6D_\`:2AX^C9_
MW(M;_-?S/\]ZGI.V1NZOUE_QB].Z199A8#!U#/K);8&NVTU.'YM]PW;K&_Z"
MG_KOH+S[J?UO^LO5''[3G655G_`8I-%8!_-_1N]>S_KU]BQPT-`:T0!H`$Z!
M*:8.JK<2Y[0]QY<[W$_VG)-JK:0YC0QPX+?:1\VJ:4()=?IGUO\`K+TMP.-G
M66UCFC*)OK('YOZ4^O7_`-9OK7H'U:_QB].ZM97A9[!T_/L(;6"Z:;7'\VFX
M[=ECW?X"[_K7KKRA,6AP+7"0=""B"BGWKJ_1^G]9P7X/4*A;2_5IX<QX^A=2
M_P"E7:R?IKQOZR?5W,^KO4/LF0?5HMEV)DQ`L8/I-=^YD5?X:O\`ZXNM_P`7
M_P!=;7VU]"ZO:7N?[<#*L/N)'_:2]Y^E9_W'M?\`SO\`,_SWI^KV/UAZ'C=>
MZ5;T_(]I=[Z+HDUVM_FKF?U?S_\`25>I5^>CNC9\,2'TA\0IY&/D8F3;B93/
M3R,=[JKF<P]IAVT_G,=].MW^C4!](?$)J7__T>./)7;_`.*SI`R.HY/6+6RS
M";Z&.2-/5L&Z]X_E58^RO_T)7$=UZ_\`XN,1N-]4L2P"'Y;K,AY\=[W-K/\`
MVPRE-&ZX[/0WY5%%E%5KH?E6&JEO[S@RS(</^V:+7K$_Y@?5`DD].8XDDESG
MVN))U<YSG6^YSE1ZQG.L_P`8_0.GCZ&/1D7N$\ONJOJ9(_D,QW_]NKKTY:^-
M?7KH-/0^N^GB5^E@Y53;<9@DM:6_HLBIKG[OHOV7?^A"YY>L_P",OI'V[ZO'
M-K;NOZ8[[0($GTHV9;?ZOI?K'_H.O)7.#6EQX:)/R32N#V/^+KZL876;<W,Z
MG0,C#QPVBJMX.TVN_2VOT/TJ:O2_]B%W`^HGU0'_`'E4?<?[T3ZG='/1_J[B
M8EC=N0YOK9(B#ZMOZ6QKO^*W>C_UM;2(""7P3K55.+UGJ-%3151CY5]=;!HU
MK&/<UC?ZK&!=;]2OJ"<W9U7KE1;AD;L;!>"#;/T;\IOYM/\`HL?_``O^&_1_
MHG[/1_J&Q_7\[K?66A[7YEUN%AZ%L&QSJLK(_->]WTZ*/\%_.6_IOYCKL[.Q
M.GXEN;FVMHQJ&[K+'<`?]^<[Z+&-^FD`HEQ<OZK_`%)Z=C69N5T_$QZ,<>H^
MXL#=L?G!P]V[=]#9[]ZN_5WZPX?UAP'9V(US&-M?4ZNP0]I:99O'_"4NJN_Z
MXO*OK9];,OZR90$.HZ;0Z<;%/)(XR<F/\/\`Z.O_`+3_`/&?I%M?XJ,YU75L
MWIY/LR:&WM'\NEPJ?']>O(9_VTE>JJ5_C4Z0,?J.-UBIL,S6^AD$#3U:QNH>
M?Y5N/ZE?_H,N('TA\0O7_P#&/B-R/JEEO(E^*ZO(8?#8]HL/_;#[5Y`/I#XA
M`[I#_]+CCW7N'U3:&_5?I`;Q]BH/S-;"5X?W7L_U#R?M'U1Z8[O75Z)^-+G8
M_P#Z*38KB\U<]SO\<-`=^97M;\/LM]G_`%3W+N.K=2IZ5@69^1_,4EGJG]UC
MGLJ?9_UIK_47(]3Q33_C7Z1D00W+QK->Q=55ELL_S6/I6Y]>P#]3^J@\>@9^
M]J/='9V[:J[JGU6M#Z[&EKV'4%KAM<TKQWHWU7>[Z[-Z#<TOIP+W6W%P^ECT
M[;L=S_\`PSOQ*W_\<O0_J%UD]6^KE!M=NR</]5R">2ZL#T[#_P`=CNIM_KK6
MKZ5AU]6NZNUD9>137CO=I]"MUE@_M/\`5]__`!-*6ZMF?4LZGIW3\GJ%_P#-
M8E3[G@<D,:7[6_RG0K#22T%PVD@$CP*X7_&WU;[/T2OI59_29[B^T?\``T;;
M'?Y^0<=O_;J[INH'P10NN#_QI]*ZKD8M'4:;76].PI.3B#ACC]'J&GNM]-I]
M.S=_1J_T]?\`VH69U+_&!U?"^M][G#=TW!M?B/P6:[ZVNBS)W.V[LS<W?5_@
M]GZO_A++UZ/B9>'U+"KRL5[<C$R6;F/&K7-/BUW^:^MZ&Z=GP%='_B[<YOUP
MPPW\^N]KOALW_P#5,8G^NWU3/U>S1?B@GI66Z*/^!L/N^R./^C_.Q7?N?H/\
M%^EL_P"*_%-WUFLR(]F)BO)/8.M=777_`-!EZ'5/1]$^MC0[ZK]7#N/L60?F
M*WN"\.;R/B%[/]?,G[/]4>IN[V5>B/C<YN/_`.C5XP/I#XA*2@__T^./)7H_
M^*?J;78V;TA[O?38,FD$ZEEHV6AO_%WU[W?^&%YP>2K_`$'K%O0^KX_4ZP7-
MI);?6WE]+_;?7&FYW^%J_P"&JK3`N+[)U+I(R^I]*ZBR/5Z;=:XD]ZKJ;<:U
MC?\`KCL>S_K2J_7D3]4>J_\`A=ZV<?(IRL>K)QWBRB]C;*K&\.8X;V/;_6:5
MY3]>L+ZP]'S+*[,_+R.BYY(H]2Y[V#=+GX&1O<[Z/^!]3^?H_P"$JM3B@+?X
MMNL?8/K`<&QT4=4;Z>L0+J]UE!_ZY7Z]7\M_HKUM?/3'OK>VRMQ996X/8]I(
M<US3N8]CF^YKV.^BKO[?^L'_`):YW_L3;_Y-`%)#:^OG5OVKU_/N:=U&*#B4
M>&VG=ZKM/W\IU_\`UOTU[8SZ#?@%\]0(B-/!7OV[U[@=5S@/#[3=_P"E$@5$
M,_K)_P"*3JW_`(<N_P"J6M]2/K<?J_EG%S'$])RG3;_P%A_[5-_X%_\`VJ9_
MZ$?Z7UN:LLLML=;:]UECR7/L>2YSG'Z3WO=[GN3(*??<["PNJ8%N'E,;?BY+
M-KV\@@ZM>QP^BYO\Y58SZ#_TBQ/J9]5'?5NG-9;:+[<F^66B9-%8VXS;&PW]
M+[K7V[/S[%POU)Z5UOKF8RL9F73T;!(;D%E]K&';#F=/QPRQNW<W^>]+^CT?
M\);2O6LB^C%Q[,F]XJHH8ZRU[M`UC!N>]W]5H3AJAX3_`!L=3:W%PND,=[[[
M#DW`'BNKV5!P_P"$OLW-_P#"Z\X'TA\0K_7^LV]<ZOD=3L!:VTAN/6[EE+-*
M*X_-=_AK?^&ML5`?2'Q":4A__]3CCR4DCR4DQ<]C]0?KE7TAXZ1U-^WIUKIQ
M[W'VT6./NKM_<Q+G^[U/^T]WT_T-N^CK?K7U>C[3C]%R::CT_)>&=0MRP[8Y
MFRV_[-@,9MMR,[]"Q[+*/Z-?]D_P^1^C\A6]T7ZT_9<=O3>L4.ZCTIK376`=
MN30QT-MKQ;Y:]V-;5^AMQO5J_0_HJ[?2_0(@J(5F?52ZVC]H?5_U>HX#F-M]
M!S=N;56\O%#KL7Z>13>VOU<>ZIOK74_I/0_PRP`X$D#Z33#FG0@C\US?I-<O
M3>GXW3^I6-LPW6];PKFR[(Q[64WXN8][_4S+\:VS#LHV8OV2CI^WU<C`QNG^
MACU>G;^EA<<+J-K&=?Z:V^E[LBX=3R&,8X=/PF>B_(]7&-&=7=;D?9[W^I37
M3^N_H?\`!U(TBWS9)==?T7ZH6=-HZ@RO)PSD9-F.:?MM/IU[&695?J9>9ZV.
MUUN,VIWI^K^CNN]#_!K<Z/\`XOOJKF>LYWVRS[-<:7LMN:`2&LMW-=AMIW5O
M9<S:A138?-"X`@'EQAK>23^ZUOTG.70=-^J;]U5_UBM=TC">"YM1:XY=C&:W
M6#&8VRS"Q:6_TC,R6?J_[E?\\NI8W&Z7DYW3NE=/IZ7EUMNP\3+VAQNR[&LR
M,&AG4K][L>[[!94]M>7^COS,CTJO4^R6>LV?5TT-LNZE;E=*Z4T5M8S/MM?D
M7N>YPZOA5,]>[J%V)E8WV=M]5=WV=^911EU56,JN^T&D6Z7U>ZID8.;3T.W`
M^R8]C[*\.BOTP*JJ_5>V[^?ORLVF_P!/]8ZE95CU?:KZ:_TMEUBY?Z_?7*OJ
M[STCIC]W3JG3D7M/MOL:?;75^_B4O&[U/^U%WT/T-?Z?-Z[];;\^DX'3Q9C8
M!9Z5MMS@[,R6`NV5YF2WW^@UK]GV?U+-_P#A[OTCZESZ!*0%TA](?$))#Z0^
M(04__]7CCR4E(\_F)?\`;:8O8I*7_;:7_;:2E56VT7-R,>Q]%[/H75.+'C^K
M966O6[1]>>OM8*\T8W5*VAH`S:0YP#7,N;^EI]'_``M55GZ1MGZ2M87_`&VE
M_P!MI:H>I?\`7K%OW/OZ+LO?<<AUV)G78[O5=6W%?:WT:VN;OH8UC_?_`"_Y
MQ&9_C&9CY5^;A=(-63DZVE^=<^ISMM=7J.PQ6W&];915^FV>JN0_[;2_[;1U
M5H]!F?XP/K)DNL=0ZCIYNCU7XM0%CX&QGJ7Y!O=[&>UCF[%S]UMM]SLC(L??
M>_Z5UKB]Y^-EA<]+_MM+_MM#53%)2_[;2_[;22Q2'TA\0I?]MIV_2'\WR$E/
M_]D`.$))300A``````!5`````0$````/`$$`9`!O`&(`90`@`%``:`!O`'0`
M;P!S`&@`;P!P````$P!!`&0`;P!B`&4`(`!0`&@`;P!T`&\`<P!H`&\`<``@
M`#8`+@`P`````0`X0DE-!`8```````<`"``!``$!`/_N``Y!9&]B90!D0```
M``'_VP"$``$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$"`@("`@("`@("`@,#`P,#`P,#`P,!`0$!`0$!`0$!`0("`0("`P,#
M`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`__``!$(`-0`WP,!$0`"$0$#$0'_W0`$`!S_Q`"_```"`04``P$`````````
M````"@D$!0<("P$#!@(!`0`#`0$!```````````````!!`4#!@(0```&`0(#
M!`,-`@H'!P4!``$"`P0%!@<`"!$2"2$3%`HQ(C1!4=)SD[-4%76EM29F(Q9A
M<9&A,E)BDB070G*BPC-3P['!0R4U51B!@K(V)T@1``("``(&"`4#!`(#`0``
M```!`@,1!"$Q05%A(G&!D:'!T1(%\+'A,A,S4Q3Q<B-#4A5"8C2"_]H`#`,!
M``(1`Q$`/P!;]TZ<^)<?XA?_`(ZW_C*?\PW]K7E3T3;Q>D]'BG7TE?Y93X6@
MQ>\/%.OI*_RRGPM!B]X>*=?25_EE/A:#%[P\4Z^DK_+*?"T&+WAXIU])7^64
M^%H,7O#Q3KZ2O\LI\+08O>'BG7TE?Y93X6@Q>\/%.OI*_P`LI\+08O>'BG7T
ME?Y93X6@Q>\/%.OI*_RRGPM!B]X>*=?25_EE/A:#%[P\4Z^DK_+*?"T&+WAX
MIU])7^64^%H,7O#Q3KZ2O\LI\+08O>'BG7TE?Y93X6@Q>\/%.OI*_P`LI\+0
M8O>'BG7TE?Y93X6@Q>\/%.OI*_RRGPM!B]X>*=?25_EE/A:#%[P\4Z^DK_+*
M?"T&+WAXIU])7^64^%H,7O#Q3KZ2O\LI\+08O>'BG7TE?Y93X6@Q>\/%.OI*
M_P`LI\+08O>'BG7TE?Y93X6@Q>\/%.OI*_RRGPM!B]Y<8MTY\2K_`(A?_P!.
MF/\`QE/_`&E[_:T83>\__]!;AU[4Y^/6^<-KRIZ)ZV4^I(#0!H`T`:`-`&@#
M0!H#R`"(@``(B(\``.T1$?0`![^@-N\.;`]Z^X`K=?#^US-MUC72956\^SH,
M['595,X\I#EMDVUC*URF$!X"+OW!]X=?4:[)_9!OH3/F5D(?=-+K)":5Y=?J
MH6U)):3PQ3,?I+<HE&ZY@QSWI2&X>NJUJ$];7B/#CVE.F4X</Z.N\<GF9:?Q
M8=+7F<7FJ%_YX]3,\L?*[=15VB15S>=JL8<P<1;O,D9%563_`(#C'8>?-Q$/
M[*A@U]K(9A[(KK/C^;3Q[#T2GE>^HTP1,JTM^UR;.4!X-HW)=\17/_`49C$T
M4V#C_"H&CR&86Q/K\\"?YM/'L-=KUY>SJJ4I)9RTP#!WMH@4QE%Z+EC&+]42
ME#CQ1BYNT0$VY,8/05)J<P^]KXED\S'_`%/#@T_'$^EFJ'_L^9'-F/9MNPV^
M'<_YU[<\RXU:M>'>R]IQ]9&%=$!`P@9"R_5ZE?=$'E'UDG)R]@]O9KA*$X/"
M<&NE8':,XS^V2?0S6K7R?0:`-`&@#0!H`T`:`-`&@+E%^TJ_9TQ^$OM0R4?_
MT5N'7M3GX];YPVO*GHGK93ZD@-`&@#0!H`T`:`SSM]VP[@-U5V;8\V]XHN&4
M[2L=$'#:MQHGC89%<PD(_LMA>':5ZK1?,`@+J1=-6X#V<_'LU,8RF_3"+<B)
M2C!>J4DD-.[//*SNW3>)MN]W,IXU0YDG3C#^$S(.'":?'O`9V#)TTS5:D6,'
M`CA",C%2%[>Z?#V&UHU>W3>FZ6"W+7VZOF4;,]%:*HX\7Y?T&1-N'3,V);4"
M,%\*;:<;0=BCR$!&]6")->\A=Z'$55TKQ=UK!9&`N#CS'3:N&Z''@!4RE*4I
M;]>5HKP]-:QWO3\RG/,73QQF\-RT&]@``!P````]``'`/Y`U8.)YT`:`-`&@
M/6JBDNF=%=)-9%4ADU4E2%4343.`E.0Y#@)3D,4>`@(<!#1I/6ACAJ(V]R/2
M'Z>.Z8)![D?;51X:UR)E%E;[C!LIBZY&?*<_&2?25)/#M+$]_:#VRS=^F;LY
MBCREX5K,GE[,?\:3WK1]"Q#,W0PY\5QTBT^\?RN>6*8WDK;LKRFTR]%HF6<$
MQ1E$\74,@)M@`QDVL%=D1:TFS.^/`.5\E`%`H=AU#=@Y]OM]D=-4O4MVI^3[
MBY7G82T6+TON\_F+!98PWE;!%TD\=9EQY;\97>'.)']:N<&_@I,A.8Q2.D$G
MR*17T>XY1%%R@91NL3UDSF*(#K/:<6U)-,N)II-/%&-="0T`:`-`&@#0!H"Y
M1?M*OV=,?A+[4,E'_]);AU[4Y^/6^<-KRIZ)ZV4^I(#0!H`T`:`][9LY>N6[
M-FW7=O':Z39JU;)*+N7+E<Y4D&[=!(IU5EUE3`4A"@)C&$``..H`T[TSO+@7
M_,C6OYEWSK3V)<;/4VDM!80BCC'96MS)7@NB:[O54S_Y;1#I+DYF92*3BA#F
M*<(Y0I3FOY?(SLYK>6'>_+XT%.[-QAC&O3/N^HZ+A#`6&=MM!BL7X*QO5<84
M2'+_`(2`JL8DQ26<"4I59&5>&[R2G9EUR@*[YZLX>.#>LHH8>W6Q7574O37%
M)&;.<['ZIRQ9E[7V?`:`-`6*=M%9J[4SVS6*"KK(A1,=W.R\?$-2%#M$QG$@
MX;I%*`>Z(Z^93C'3*2722HREJ39@J3WE[0(18[>9W6;;8EPF(E.A)YRQ@Q6(
M8.P2F2=6A(Y3`/N"&N?\BA:[H=J/O\-K_P!4NQE3#;OMIEC6(VKVZ';M.N%!
M`J:$-FO&LFLH8>P"D2969=0PB/N`&BS%#U70[4'3:M=4NQF=XJ9AYUJ1]"2T
M;,,E``R;R*?-9!JH`]H"1PT562,`A[PZZJ49:8R31\--:&BY:D@-`&@-9]T.
MSW;CO*H*^.=Q>+:[D*$Y'!H>1>MQ9VJJ/ET^[&5I]L8&;S];D2\`$QFJY"+%
M+R+%43$Q!Y6T57+"R.G?M[3I7;.IXPEY".74Y\OYG#9ZWG\P[=%YW/\`MW8=
M_(RK9%@5?+6,8TIE5%%K1"12!4+97(]`H"K,1J*9D2\QW3-LBF*YL;,9.RC&
M2YJ]^[I\_D:E.:A;A%Z)]W5Y?,7>U4+)XT`:`-`&@#0%RB_:5?LZ8_"7VH9*
M/__36X=>U.?CUOG#:\J>B>ME/J2`T`:`-`?:8ZQU><MWBKXUQI59J[7RZ2[:
M"J]5KS)60EYF4=F$$FS5LD`CRD(4RBJAA*DBD0RBABD*8P$FVDEBV&TDVWH.
M@'TBNAMCC9)&P&<=P;&OY-W7NFJ;YD)BDEZ9A$7*9N,;2B.$@;RMR(BIR/)T
MZ8F1.!D6'=H]ZN[V<KDE7A9:L;-VQ>;^%O,O,9ISQA7HA\_H,(:T"D&@,/9O
MW`X3VV4A[D?.^3J?BREL`,4\W;IAM&D=N"D%0L?$,C&-(SLLL4H]TS9(N'2H
M]A$S#KG9;74O59-)'W"N=C],(XL6-W:^:8Q=5UI&M;-,,R>4)!$ZS=')N7O&
MT^D&.4![I[#4B,7+=)UDIQ#VYQ`K%$!XIB'`1SK/<M:JAUOR7F7:\CMMGU+S
M%Z<]];CJ8;@7;[ZYW,VW&L$[,<$*M@X$<21L>@H``=JA-50&MW?('X=OCI9V
M<0$0YN4>&J,\SF)_=:\.&CY%N.7IAJK6/'3\R,6S7&W7616F+E:K';9=RH95
MQ*6:<DYZ175.(F.HL^E73IRJH<P\1$QA$1UP.Q\WJ0&@/N:1D[)6,I1"<QOD
M*\8^FFJA5FLQ2+9/U24;+$'B55"0@9!@[14*/H,4X"&BT/%:&'I6#U$K6WSK
MV=3'`+EDDMG13-M:;=V"U7SU$M[^5V4@D`3*W+O(O)0*BF40XA-<@B;F,0P\
M!U8AF\Q7AA8VN.GYZ>\X3RU$]=:3X:/IW#%VT7S/VVC)JL75]U^/+#MXLSDR
M396\5L7>0\5*K&,1/Q+XC)HG>JPFLH?B"?@)1%(@"*CHH!QU>J]QB]%T,'O6
MKLU_,J69&2TURQX/X\ADW'&3<=Y@I\/D#%=XJN1*1/MP<PUJID[&V*"D$A`.
M;P\E%N'+8RJ)AY5$Q,"B1P$IP*8!#6C"<9I2A)-%*490>$HM,^YU]'R>#%`Q
M1*8`,4P"4Q1#B`@(<!`0'L$!#0"J76)Z!%?S&VM>YS9#68ZL9@+XVP9#P=%$
M1C:QE$P`N[DIVA,R%(RKV0W!_758D[F/ES\3E!%X8YG>5FLEKLHCIVKR\NSC
MH9?-ZH7/H?GYB.TK%2D%*2,)-QK^'F8=\[BY:)E&CB/DXN28+J-7T?(,7::3
MID^9N4C)JI*%*HF<HE,`"`AK+-$M^@#0!H`T!<HOVE7[.F/PE]J&2C__U%N'
M7M3GX];YPVO*GHGK93ZD@-`&@+S7:[/6Z?A:K5H>2L-ELDJP@X"!AF:\C+34
MS*NDF4;%QC!J11R\?OGBQ$DDDRF.<Y@``XCH#HK]&/I!U38'CECE;+,3$6'=
MU?H4HV>7$6LJSQ)"2!14''=+?$*=`'QFYB%FY)`QO&.2F014.T3(9;;R>55*
M5DU_E?=]=_8N.3F<P[7Z(/\`QKO^-A.OJ\5`$0#M'L`/='0"WO5&\P5B3::Z
ML6$MK24!G#<-'*K14_8EE%7N),62)``KEK*/X]RV4O%L8F-R'CF"Q6C18#$=
MNBK(J,S9V9SRAC"G!SW[%YEVC*.>$K-$=VU^0CMN*W19_P!V5^=Y+W#93M63
M[8X,L#5>>>\(F!:+G*H>+JE;9$:UZIPX'(`@TCFK9OS!S"43")AR)3E-^J<F
MY&G&,8+TPCA$P'J"0T`:`-`&@#0!H`T!MYM%WU[H=CMW1NNW;*,U4BK.T'%C
MI3M527QU=D$A(4[.W4MXH:'E.];E%(CLA$9%J0PBV<('X'#[KLLJEZJY-/XU
MGQ.N%BPG'%#X_2^ZW^`]_C>(QE>2QV$]T`,^"^/))^;]U<@K-B%\5(8KL#XQ
M1D%E`_;'A'1BRK<G/W7C$45'(;&6SL+<(6<MG<^CR,R_*RKQE#3#O7QO^1.)
MJ\5`T`KWUV^C(PW#URR[P]KM40:[@*RP6E\KT&";)-R9IK<:V.H]L,8Q03*5
M?*4(T1`W`O[2;:IBEZ[LB!5LS.Y3%.ZI<VU>*X[]_3KOY7,X856/EV/P$/SD
M.F<Z:A#)J)F,0Y#E$IR'*(E,0Y3`!BF*8.`@/:`ZR#2/QJ0&@#0%RB_:5?LZ
M8_"7VH9*/__56X=>U.?CUOG#:\J>B>ME/J2`T`:`=/\`+A]+9O`PL9U"<Y5\
M%)^?;/FVVBM2K8!^IJ^X*XC)?+;IHX2YR2<^GWK2",/`"1QEG90.#IJHGIY#
M+8M7S6C9Y^7]#/SE^&-,7T^0WQK6,X_)C%(4QSF*0A"B8QC"!2E*4.)C&,/`
M`*`!Q$1T`E=UL^NW(65[;]G^R2X+,*NS6=5W,.?ZQ('0?69R@<496D8KFX]P
M51M64S@9O)32)BJ2)@.BT,#3F7=XV;SCFW74^3:]_P!/GT:]/+951PLL7-L6
M[Z_(4,$1$1$1$1$1$1$>(B(^D1'W1'6<7CQJ0&@#0!H`T`:`-`&@#0!H"OBY
M23A)*/F861?1$Q$O6LE%2L8[7824;(L5R.63^/?-5$G+-ZT<I%4253,4Z9R@
M8H@(`.@'E^B1URBY_/6=HV\*QM&F;$VS6&Q/E^6<)-&N7@;)IMVM3N+I=4J2
M.4#I@`-77`J<]RB0W!_R^-U<IG&W&JYZ=C\'Y[>G7G9G*X8V5+1M7BAJ'6H9
MX:`1$\Q/TN4,"7]7>YA"O`TQ#EJQ@VS#7(EKRL<>Y4FCJK)V=NV;(`E'U7(K
MDIS*B803;SAC$`P`];I$Q,[E_P`4_P`D%_CEW/R>PU<I?^2/XY/G7>OH*YZH
MEP-`&@+E%^TJ_9TQ^$OM0R4?_]9;AU[4Y^/6^<-KRIZ)ZV4^I(#0$E/2@V*R
M'4`WB4;$3TCMOC"M)GR+FF9;%4*9ECJN/&1'<0W<E`"H2MQEGC6);&X\Z/BS
MN`*8K<X:ZT5.^V->S;T?&@Y76*JN4]NSI.H1`P,+5H.&K-;BV$'7J[%1\'!0
ML6U191D1#1+1%A&1<<R;E(@T8L&2!$D4B%`B:9`*```!KT:2BE%+0C$;;;;>
MEEVU)`IYYAKJTO<2Q,KL/VZV59ADFTQ+8^X"]P,@HVD*+4IALD[9XUAWC-0B
M[2SW&,7(M**@<HM(=8B)0,=Z8S;*SV9UT5OI?AY]F\T,IE\<+IKH\_(1[UEF
MB&@#0!H`T`:`-`&@#0!H`T`:`-`53)Z\C7C21CG;EA(,'*#UB^9+JM7C)XU5
M*NV=M'*!B+-W+=8A3IJ$,!B&`!`0$-0#H8]"/JNAO>Q2.`LTS13[HL,UUJ9U
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M?__76X=>U.?CUOG#:\J>B>ME/J2`T!T3O+M[+4=L^R&+S#9H@S+*FZI9CDF6
M4=H=V^C<:-2.V^*H0@G3(H5J_A7:T[[YAF0*;CW1>&U[?5Z*G8US2^6SMUF5
MG+/59Z$^6/S)^=7RF6^6;R#N*DVL3()Q,JYCWC>-E%F19)*-D%FZB;-^K''7
M:E?ILW!BJ"B*J8*@7E$Q>/$(:;32>#)6&*Q6@5MN?E=<;Y(N-IR#D#>OFJUW
M2ZS\M:+58I.BU->3FY^<?+2,I)O7*\NL=1P[>.#G,/H#CP````#67_UK>+=^
M+Z/J7UGL,$JM'3]"R$\J'MY`/VFZ_,QQ_L4VD)A_M'5T7MN^[N^H_GO]KO\`
MH0&]8KI4H=,J^8A;4Z[V;)6,,MU:;<1UIL\5'1LE'W:IR:*5CKJY(?BP%L$-
M-1CIL<W(HH*JY>`@D)M4\SEWEY16.,6M9:HO5T6\,&F0SZKG<-`&@#0#ENSG
MRS>#\P[8,(99SOEW.U-RCDN@P][LE2J*E%80U=1M95)NO1!6M@I4Q+MY)G6'
MK(C\BZYC%?`L``0H`0NE3D%95"<IM-K'R[BA;G'"R4(P329LZ3RJVR@/^)GS
M=$?_`%9?%)/^W%Y]=?\`K8?NOL1S_GS_`&UWE43RK6QL/^)G+=2?W^6Q8G(/
M\^)3Z?\`6U_N2[A_/G^W'O\`,37WR8)J^V+=WN#V_P!*DYZ9J>)<E3M-@)2T
M+L'-A?1D8=,&[B7<14=$QRSU0I_7,BV0(/N%#679%0LG!/0FT:%<O7"$VM+1
MJGKX/L\Z`:CZ6GEUG&Y#&9<Y[V)?(V**=<HIN[Q3C:DN(BO9%DXYT=%PA=[@
M[L]<LK:`A9!D`_5\;X+QKI-4KE11!,$TW%[+9)W1]=C:ALWOCMT?/YT[\VJW
MZ:TG+;N_J2R$\KKTZR_TKWNJ4_ULCXY#C_<P\75O_K:?W)]WD5_YUO\`PCW^
M9G/;IY?S9IM8S/0,]8>R9NE@L@XYFTIF%=+9*I"L<_2%-1K)P,ZS:XL9'DJ[
M8(M=9F_;=X3OVJYR<Q1$#!]0R%4)1G&<_4GO7D?,LY9.,HRA'!KCYDYFKQ4#
M0"HGF@]ER%UP[CK>O3X@3VG$4BRQKE19FV`5'N,K4^<*5:;D5$TQ.8E2N[H&
MA!,/]"=,(CP3#67[C5HC<NA^'QT&AD;-,JF]>E>(CGK*-$-`7*+]I5^SIC\)
M?:ADH__06X=>U.?CUOG#:\J>B>ME/J2#9G9GM]DMU>ZG`VWJ,!8/\TLD5ZOR
M[AN!Q6CJHFY&4NLP0$R'/_Y)4(]\['L]"';P#MU]0@[)Q@M;>!\SDH0E-[$=
M9N%AXRNP\37X1DWC(:"C&$/$1K1,J+2/C(QJDR8,FR)``B3=HT0(F0H!P*4H
M`&O3)**44M",%MMMO6RYZD@TQP'NMCL\[G-Y.&ZV#1>M;59/#E"<RK<Y5C2E
M_ME?MEGO906*!1(A`&(QB3(CQ%)ZP=#Q$#!PKU7?DNO@OMC@NO3CY=1VG7Z*
MZI;98^&!N=JP<0T!#AUV]J'_`,J>G?E9.%BADLA8.,VSM0>Y3(9X=2DMW9;M
M&I&``75))XZD)4"(%'@J\2;"(&$A>%//5?DH<DN:.GS[M):RD_1<D]4M'EWG
M-'UA&N&@#0&]'36VO.MXF]S;]@KP8NZY.W=G8,@F,F<[=OC>E$/;+OXDY0Y4
M?K&"B56*`F$"G=ND2<>)PUTIK=ML*UM?=M[CXMFJZYSW+OV'5;112;I)(())
MHH()D2112(5-))),H$3333*`%(0A`````X``:]*M"P,$]F@#0'+8ZOA.3J:[
MU"^_G*RG^429'_GYM>;O_7N_N?S-RC]&K^U$<:22BZB:**9UEECD2222(911
M510P$(FF0@"8YSF$````1$1UQ.HZ5T4^@X2K_NAN\WOU,BMFX,['B#;Y8V)3
MHUL1`KF*N^5XIVF8JMA+Q*O'P2I>6/$"+/0%SP;-M3*9+'"VY:-B\7Y=I0S.
M:PQKJ>G:_+S&^=:QFAH")?JK=5G%73>Q:<@&C+SN-NT6X'%.)@><#%*H+AJ2
M^7D&YP=15$B7B)@X`)',JY3%JV$O!=PVJ9K-1HCZ5IL>SQ?QI+.7R[N>+T5K
M;X$.?EY>J#EO<#N'W$X)W+9`D;M<,R+O\]8]EYESP3:6.%;QT-=Z+76`"+>*
M@QJ:#!W&QK4J35BVAW/(7UQU3R-\G;.$Y8N6GK7T^19SE,57&<(X*.CJ_K\Q
MO36N9IA;<;A6N[C<"Y?P1:TTSP66,>6FCNU5$P4%@M.Q+EG'RZ!1]#R$DCHO
M$#!VD60*8.T`USMK5M<ZWM1]US==D)K8SDG7ZDV#&EZNF.;:S-'6J@6RQ4JS
M1YN;F8V"K3#R#F69N8I3<6TBQ4)V@`^KZ->:::;36DWDTTFM1\EH"Y1?M*OV
M=,?A+[4,E'__T5N'7M3GX];YPVO*GHGK93ZD@9C\KK@QO?-ZV2\V2+7OF>!,
M0/"0RW*0?"7/*C\:M'K<3`)B\]-83Z?J\!_:=H\.P;OM\/5?ZO\`BL>W1YE3
M.RPJ].]_+2/R:W#),39YRU!X%PEEO-EDY!@\48XN609%$ZQ$!=H5.OOYH(])
M4X@4',BHS*@D'I,HH4`[1#7Q9-5USF]21]0BYSC!:VQ9CRNEXLF3&/4(R+<9
M!26MU^S%C:[6B45XBK(V*U(90FYI\?F,8>9W(O%#CVC_`$M9OMK;=[;Q;P\2
M]GDE^%):-/@-@:U3/#0'H=-FSULX9O$$731V@JV=-G"9%D'+9=,R2Z"Z2@&(
MJBLD<2F*8!`Q1$!T:Q6#U#5I.5/U*=JZNS/>WG[`;=LLWJU>N2\]CDZO.<%\
M:71!&V48A7)^QXM%P,NDP<JEX`+UHL'`HE$H>:NK_%;.O<^[9W&[5/\`)7">
M]=^TT7US.@:`<U\JSM830C-P&\J?8`+E^NVP)C=PLF8!38-?JJY9*?(<_J&(
M\>#!-4E2AS%%JY)QX&,`Z?MM>,IVM:M"^;\"AGK,%"I;=+\/$<2UK&:&@#0'
M+LZO,<^D>J1O%BHQDZD)*2SG(,X^/8MU7;Y\^?M(A-HS9M6Y%%W+ITNL4B:9
M"F.<Y@``$1UYS,_KV_W/YFY1^C7_`&H9UZ*W0H98#_=+=GO&KS.5S@*3:>Q=
MAV411>Q6'C*E(NPL]P;J%4;264$2B!VK;UV\"80/Z\@4AF5_*9+#"VY:=B\7
MY;.G53S.:QQKJ>C:_+A\:M;3VM0SPT!$;U7NJ[C#IO8O!LV+&7K<A>HQR.+,
M6"[$$VB1P<M2W^^>&.5U&TB*>HB4J93)NI9R06S<2%*X<M:>:S4:%Z8Z;7\8
MOXTEG+Y=W/%Z*U\8(YP6<<X90W'Y4N6:<RVV1NN1;Y++2]@G9$Q0YE#`";6/
MCF:0$:14+$M"$;,F;<B;=HV3(DF4I"@&L.4I2DY2>,F:\8J*48K!(R7LGW`R
M>UC=GM_S_&NUVA,:Y-K<O.BV,8JKRFNW80UZB>)1*(DF:9)/VA@X]I5AU,)N
MN<;%K3Q(G%3A*#U-'698/FDFQ924>Y1>,)!HW?,G;=0JK=TT=HD<-G*"I!$B
MB*Z*A3%,'8)1`0UZ9--)IZ&8+33:>LJ]20<U?K]X.;82ZG.;E(UL+6%S"RJV
M;HPG(!`.YNT:9K;%P$H`!_%7N#E51'T\3]O$>T?/9N'HS%BPT-X]OUQ-K+2]
M=$'NT=GT(8-5SN7*+]I5^SIC\)?:ADH__]);AU[4Y^/6^<-KRIZ)ZV4^I('H
M_*GXZ"(VO[E<I*-CIK7C.$/3D')BE`KAACRD1\F0$C\.<03>Y`7`W;R\0#W>
M.M;VQ<MTN*79I\3-S[YJX\,?CL&I-:90(._,1Y37QKTNLN13-T+-_ENXXQQ8
MU7(MW2PH/K8TN4VU2#D,"P2%:I3UNJ3LXH*G'CV:H^X2].7P_P"32\?`M9..
M-Z>Y-^'B1G>4U/\`D/>RG[UNP<?^]#9-+_N:X>V:[NKQ.^?U5=?@-ZZU3.#0
M!H!0OS3VTP\O3<&[SZS&HF<4]^MA/*2[=$PNU(&PJNK!CF9=G(4$RL(:=1DV
M"BAQYA6EVI`[`[,KW*K3"U+@_#Q[C1R-GWUOI7B)6:RS0*R/CWLL_8Q<8U7?
M24D\;1\>Q:IF6<O'KQ8C=HU;HD`3JKN%U"D(4`$3&$`#4`ZNO3]VQM-G6S?`
M.WA)-N$O0J&P&YN&P\Z+[(=D6<6G(+Y)4?76:KW&:>^'$PB)6P)D]!0`/1Y:
MO\5,(/[L-/2S#OL_+;.:U;.@W&UW.0:`-`1-X)Z4.(,?;W]PN_3)I8K).8,F
MY(D;+BAF[8G5@,.U]:.91Z;Z/;/2]W(9"DO#',I(F3`(Y$_<M.!A575IUY2*
MNG=-XMMM+=]?D69YANJ%4-"2T\?H2R:N%8-`0^=6;JT8QZ<.-AAHH(Z][FKU
M$N#XSQEXCBVA6JP.6J>0\@&0.5:/J$:\1,"+8IB.YAR04$.[3*Y=-:>:S:H7
MICIM?=Q?D6<OEW<_4]%:^,#G%9FS-DW<'DZX9BS#;I6\Y$O4NXF;'8I=;O%G
M#A8>5%HS;D`C6,B(UL4C=DR;D2:LVJ9$42$3(4H8<I.4G*3QDS7244HI8)&,
M-02&@.J%TI<L+9LZ<VSR_NG1GK];"=7J,L].<5%7<UC,KC&DVZ7./:9RYEJB
ML=0?ZYAUZ#*2]66J?##LT>!BYF/IOL7''MT^)(+JR<!)3S7^."1^7-HF7$6_
M`]JQUD?'CYR4H</R'9(*QQJ2A@#CSF#(CH2\1[0*/#T#K&]R6%M<M\?D_J:F
M1>-<X[G\U]!2/6>72Y1?M*OV=,?A+[4,E'__TUN'7M3GX];YPVO*GHGK93ZD
M@Z+WEN(4D5TO*(^*0"FLF5\P31S```*AD+0-=`YN'I$"0`%XCV\"AK:]N_0?
M]S\#)SOZW4B>G5\J"K/FM;BLQVN;8Z"0P@A9\]S%M6`!X<QZ/CV:B$0'L[0`
M+^<?3Z0#_P"F9[D^6F/%OL_J7\@N:R6W!?'<8E\IF?C4-[R?]6R8&/\`WHS*
MQ?\`<U\>V:[^KQ/K/_ZNOP'`-:QG'H,Y;$<I,S.$2NUT'#E!J94@.%FS11LD
MZ<)(B;O%$6RKU$JA@`2D,J0!$!,7BQ6.&T'OT!K#O0VXP>[C:OG+;K/`D5#)
M]"E8>)>+%(8D3;60I3=)G>"A#EXP5PBV+OT<1[GAQ#CQUQOK_+3.&UKOV'2J
M?X[(3W,Y.-EKDW3['/U*S1KJ&LE6FY6N6"'?)&0>Q4W"/EXR5C7B!P`Z+IB_
M:J)*$$`$IR"`Z\X;O1J)?^@SM5#=#U%,5*S,<H^H6!4W&>[F84P%L9>D.F1*
M''+**%,@87V19"+.=`0$R[-NX``X%,8MC*5_EOA%ZEI?5]<$<,S9^.F36MZ.
MTZ5NO0F*>I==!J@LY<K)-VS=)1=PX74(DB@BD05%5EE3B4B:29"B)C"(``!Q
M'4-I+%O0#VZD!H`T`:`T(ZF6ZO)&R_9SE3<!BG%;[*]PJC5DT9L$A*:$IR,P
MN+!3(MR;)*EE'U1J2BA%G:#(AUE3'("AVS;OWC>OFK94TRG&.+^7$[9>N-MB
MA)X+Y\#E]9AS#DK/N2[AF#+]NE;SD:^3"\W9K+,*@HZ>O%@*FD@@BF5-K'1<
M<U33;LV;<B35FU23013(DF0@>?;<FY2>,F;22BE&*P2,::@D-`&@.B]Y;BX.
M;-TO:)#+G,9/'N5LOT]H!AX\C=Y9_P!_!(7WB^)NR@\/?'6U[<VZ))ZE)X=B
M?B9.=25V.]+R\">G5\J"J7FMX`KC;+M=M'(03Q&=IZ!*<0_:%+8\?RL@<I!X
M<0(<:L43![HE#WM9?N2T5/I\"_D'S6+@A&764:1<HOVE7[.F/PE]J&2C_]1;
MAU[4Y^/6^<-KRIZ)ZV4^I(.D)Y=9=);I3X.33$!,UN&:T%^'N*FRU;G0`/\`
M#W+@@_Q#K;]O_0__`$S(SGZSZ$3AZO%44=\V,BJ;%6S-P!3=RED'+R*AO]$%
M5ZY2#I%$?ZQBMC\/XAUE^Y_Z>OP-#(?[>KQ/EO*8GXU_?&G[TSM^/_>99?+_
M`+FOGVS7?U>).?\`]77X#A>M8SB%OJH;M`V7[@NFOEZ6?G88_F<V9)Q7E<W>
M=TV_R\R-4Z]$R$B_$/6.TJ<RBPG!(':<\64/=X:H9NW\-V5LV+U8]&C'LUEO
M+U_DKOAMP6'3I)HBF*<I3D,!B'*!BF*("4Q3!Q*8HAV"`@/8.KY4/UH#G0>8
MFVH*[>.H#9<DPT<1I0=T42GER&4;H]VU1NR8HPV4HT3\`[V0<65$DTN/HX39
M`]/'6!G:_P`=\M'++2O'O-C*3]=,5MCH\NX8)\L?M6-B79Q;=QL_&@WM.YNY
M**P:ZR8`Y)B_&CF3K4```8150"3MRTXY]!`7;^&4]8O(;5WVZO"$K6M,G@NA
M?7'L*N>GC.-:V+O?T&5M:11(=.N!NO/MDV8K0$%)D8W_`'&Y`J6"ZR5)<I7R
M$!8GQ7^295-`."QFB5%CG<<98HE!NZE&P\>(E`U+/6^BKT+[I/#JV^766LI7
MZ[?4UHBL>O9Y]1,7JXM2*H:D!H`T!02L5&3L7(PDU'LI:'F&+N+EHJ1;(O8^
M2C7Z"C5\P?LW!%&[MF\;*F3524*8BA#"4P"`B&H:3336AA-IXIZ3G.=;GI2R
M6P7,1LH8JB'CG:GEZ;<J4QPF19PGBVW.B.9![BR7='565,S*B@JY@W*H@9PP
M(=`PJ+-%55<'-99T3T?IO5Y&SE[U='3]ZU^9!5JJ6`T`:`Z$?EBD5$NFY+'.
M`@5SN0R>LEQX\!3+6\>-Q$/X.];F#^,-;/MK_P`,U_[>",O/?JQ_M\6,2:T"
MD*]^:L53#9?M]0$0[U3<]'JD#CZPIHXJR6100#T\`,N3C_&&LSW+[*NEE_(?
M=9T>(AYK)-(N47[2K]G3'X2^U#)1_]5;AU[4Y^/6^<-KRIZ)ZV4^I(.A7Y9.
MX,K%TW%Z\@N!WE!SYDR`?("/$R`2K&JV]J<"^XFLG8C</?,4VMGVUITS6U2\
M$9>>6%L7OCXL8<UH%(6=\TM0SS^Q3$UY;-C+.<?[DZVF\7*7B#2"MM"O\8[4
M./\`HE5G&<83^,P:SO<HXUURVJ7S7T+V1?\`DFMGI\?J:F>4O/\`^6[Z$_>?
M;=S\/XV^:"_S\-<O;/NNZ%XGWG_]77X#BNM8SA4'S7B?';WM/5_J9ENB?'XV
MD)F_Z.LOW/\`T]?@:&0UV]7B2F]$3=R&[OI\XAFYJ6&4R3B%H.#\FBNN*[]2
M:H35HTKDT^64'OW3JST->*?N%S!^T>K+EXF$@B-C)6_DHBF^:.CR[CAFJ_QV
MO#[7I)<=7"L0I]<W8!8=^.URG1N,X@DCF?%V6:;*TPY2%%=6KWJ9C:+D./44
M.8A$HIE&RC6>=FX@;D@``![1`:.>I=M<90CC-/N?PBWE+57-J3P@U\B5["F)
MZM@C$&,<+TAMX2I8KHE6H-?2$`[T\95H9G#MW+HW$15>O2M.^74$1,JLH8YA
M$QA$;=<%7"$%J2*TYN<Y3>MLR=K[/D03\PWNL)FGJ-XYP9`O_$T_:R6K5ET5
M)4%&B^2[Q)P5JN[E(Q!Y3&CXHL/&*E'UDG3!<OOZPL[9Z[\$^6.CS\NHU\I7
MZ*?4]<M/D/UE'B4H^^`#_*''6ZM2,@\Z`@QZQ/6+I?3WIB^+L7JPUUW:7.'%
M:NUQ<Y'L-BN&D$52-K]>VZ8F!5P(AS140<4U'QP!97E:E_;4<WFU2O16_P#+
M\OKN77P=O+99VM3G^G\S)G1_ZI=2ZC6$2MK*M$UW<QC&.8,<O4ELHDW2FTN5
M)HUR?46!A!4:K8W/8X0+SC$OS"V.(IG:JK_64S*OCZ9?JK7QX^9\YFATRQC^
MF]7#@3!:N%8PYN`P+C'<YAZ]X+S#76]GQ]D.$7A9N/5`I7+8PF(O'3,0Z$AS
MQT]!22*3QBZ('.W=(D.']'AKG;7&V#A-:&?<)RKDIQ>E',.ZBVPG)O3SW&6+
M#%Y3=2]4>F<V#$F1/"@A'9#H"SM1*.E2=T91!I/QHE\++,N83-'A!$O,@H@J
MKYZZJ5-CA+^JWFU59&V"G'^C-#-<SH&@.D_Y?*B#2>E5M[=+(';OKW*Y6O3Y
M-0G(8P2.4K;$1*X>Z8CFO0;-0HCZ2F#W-;GM\?3EU+_DV_#P,C.2QO:W)+Q\
M2:C5TJBCWFP[>U:XIV=T'O?\;.9"RC;P0`WH:U6MUB%%4Y.'9S*W(`*(\/0;
MAQ[>&5[F]-,>GP-#(+]671XB3.LLT2Y1?M*OV=,?A+[4,E'_UEN'7M3GX];Y
MPVO*GHGK93ZD@="\I]E)%:K[O\*.')2KQT]C7*40S,9,#*HS4?/U.QN4B\>^
M4*W/`19%!X<I.])[IM:?ML]-L,=S\_`S\_'].?2OCO'!=:QG$6G6HPDYSUTR
M]U-4C&8O)VL4EGE>#`B9%'";G$D_$Y!E`:%.(?XA]6H!^T[/6$K@P%`1$-5,
M[#UY>S!:5I[-?=B6,K+TWPQ>AZ.WZD%/E+U/4WU)?VMNBG#^,,V%_P"[53VS
M[KNA>)9S^JKK\!R'6L9PJAYKA+CMGVMK?\O.MB2X_&T"1-_T=9?N6JGK\#0R
M&NSH1%-Y:/=V?">\V8VZ6*1!O1=TU>^J8Y-PJ*;9CE>AM92?IKDISB*2/UY!
M+2\8)``#N7CAF7F]0I1K9&W\=RB_MEHZ]GEUG?.5^NKU):8Z>K:=`C6Z9`:`
M-`8:W$9HK>W3!.7<ZVY5).OXHQ]:;R^255!+QYX")<O6,0@<>/%Y-2":31`H
M<1.NN0H=HAKG;8JJYV/8C[K@[)P@MK.3U+9#M&6,[O\`*MWD#RMQR+E=:]VF
M2/V"]L%IMHSLNY`OH3(J^>G$I0]4A>`!P``UYIMMMMZ3>22226@Z\J(\44A]
M]),?Y2@.O4+4CSQ[=2#F(=;X@DZJ>\4!$1XWJKG[?>4QE1S@'\0`;7G,S^O;
M_<S;R_Z-?0:5;6]SF6=GV<*/G["TZ,)=:3(@L"*W>*PUDA'(E2G*E9F*:B7U
MC7+"PYD'*7,4Y0$%4CIKII*$YPG*N<9Q?,F=)1C.+C)<K.GAL'WQ8GW_`&WF
MKYRQB[19OEDD(?(]#6>$<S>-K\V:(*S56E1!-!1PV*=4%H][W2:;]BHFL4I#
M&.FGZ#+WQOK4E]VU;F8MU4J9N+U;'O-U-=SD:`=2'I_XSZB6W6<P]<^X@[G$
MBXL>(<C)M2K2-"O:+4Z31R;@'>O*U-DX-)=EQX.&A^<G(Y1;K)5\SEUF(8:I
MK4_C8SM1<Z9X_P#B]:.8IGC!N2]M>7KY@[,%=<5;(>.IYS`V"+6YCH'.ERJL
MI6+=\A$Y*"FX]5)XQ=IAW;IHLFJ7U3!KS\HN,G&2PDF;49*45*+Y6C%31HY?
MNVS%D@JY>/7"+1HV1(*BSARX4*B@@D0H"8ZJJIP*4`[1$=?))UK]GF&__CUM
M3VZ8141*@^Q?AC'5/FBD`H`K8XBKQJ%F=B!!,3G?6#Q*QN`B',H/`=>DR\'7
M37!ZTECT[3"NEZ[;)+4VS9#78YB&GFG<I)V7>3A+%+5R"S?%N"$IEZB4P"#2
M>R-;IIR[1.`"(E5/!5>,4X#_`**A1]W6)[A+&]1W17B:N2CA2WO8L'JB7"Y1
M?M*OV=,?A+[4,E'_UUN'7M3GX];YPVO*GHGK93ZD@G)\O'N$+@WJ4XXKTD^\
M%6L_UFU83ES*&`$/K67:HVBD<2"`\SE[=JJQ8)"'`2^.'MX"8!LY.S\>8AB]
M#T=NKOP*^:AZZ9:-*T_'4='[7H#&+?+14=.Q4G"2[-"0B9B/>14HP=)@JU?1
MT@V4:/6;E(W$JB#ELL8ARCV"4PAJ&E)-/4R4\&FM8L3T"-N,OM$W=]6/;A+E
M<\N,;Q@B.K[IV0Q%Y:D22N:YR@SRA3>@\[2I1@[,`"8"F6$.(\..LO(0==^9
MK>M)?-_/67\Y/UU436IX^`T-K5,\5@\UFGQVI;9UOZFX1^GQ^-QO9C?S]SK,
M]R^VKI9?R/WV=`D+0+Q9<97JFY'IDBI$6ZA6F!N58E$N/>1\_6I1K,1+LH`)
M><$'S,AA*(\#`'`>P=9*;336M&E@GBGJ.LAM*W#UG=CMKPQN*J/<IQ.5J)#V
M5>/16\0$%8!3,PMM856#L4=5:U,GD<L/H%5J;AV:])38K:H6+:N_:85L'79*
M#V,V)UU.8:`5Q\T/NM#'FV?&>U&OR'=6'<!:RVVZH(K>NEC+&3ME(M6;Q$H@
M<A+!?W$<J@<1Y3!#N"\!](9GN-N$85)Z]+Z-G?\`(OY&&,I6-:M"Z_I\Q&>I
M&Y+563?U;!#&_DD6P_\`=K(>IFD=AYH/%JV'WVZ(_P`J91UZE:D>>>ME1J0<
MQOKF$[OJM;P2\.'&WT<_RN(\>J<?]O7G<U_]%W]QMY?]"KH(G-<#L2)=-'J'
M9,Z<^X:*RE51>V#'-B%I7\S8R!V9&/O--%8PBNV3.<&S6WU@ZYW<.\'@*2_.
MBH(MG#E-3K3=*BQ3CUK>CG;5&V#C+J>XZ;F"\WXSW(8EHV;L/V5I;,=Y#@V\
M]79AKZAQ15$Z+N.D6IA%:-FH9^BJT?-%0!9J[042.`&((:]#79&V"G!\K,6<
M)5R<)+2C+.OL^"!_K>]*"-WZXB/EG$D.S:[KL1PCA2JJIE2:CE:G-#+OWV,9
MAR(%*:4(=55Q`.%1Y$'QCMCF31=J*HT,YE?RQ_)!?Y%WKSW%O*YC\<O1-\C[
MOC:)_=&W:--[DNI)AG'ED@9%E"8<M+G+N68Z4CG#=S#1N(9%N^+!3L<Z(@NT
M4EK\2,AG**H$.D+P_,41()1R\M7^6ZN.S'%]"^,.LT+Y_CJG+;A@NOXQ.G#K
MT9B`(@`<1[`#M$1]`!H#EA=5C<"7<WU!]T>5&;\)*O'R9*TFFNTS@=LXIN-"
M(8_K;YGR^J5M+QU<*]`/=,Y$1[1'7FKI_DMLGCH;[M2[C=JAZ*H0W+ZOO(]=
M<SH7*+]I5^SIC\)?:ADH_]!;AU[4Y^/6^<-KRIZ)ZV4^I(/J:/<K!CJZU#(-
M3?*1EIHMH@+A6Y)(1!1A/5F5:340](("`\[609)G#_5TTK2M8P3T/4=:C;%G
MFJ;H-OF']P-*634KV5Z)!6U!!-3O#14B]:%3GZ^Y,``'CZU/HNH]R'^BX;'#
MW->EIL5M<+%M7?M,&V#KLE![&9VUT/@Q'!86IE;S7D7.\.T\'=,IT7&]$N1T
M4TB(2S/%DG?']6DW`D*"BLHBWR`Y:'4,(B9LW;D#@"8:YJN*ME:M;23ZC[<V
MX1@]2;[S+FNA\"MGFL"<=H6W%3^IN1$GRF,;N;_IZS/<OMIZ7X%_(_?9T")>
MLDTAU7RL^[WZYIV9ME-JF>=_3G/^=&)&+DP<YJQ-NV\/DJ(9''EY4(BR+QK\
MJ(<3&/+.5`]4IN&G[=;@YTM\5X_'29^>K^RQ+@_`;RUK&<&@.8MUJMUP[M^H
M7FVU1,H$GC_&<B3"6-#(K$<,35O'*[J-EI2/72_9.65FNZTM*(*@'K-WB9>(
M@4!UYS,V?EOLECRXX+H7GKZS;HK_`!U0BUIUOI?Q@1=ULW+8H$W]6:BS?R/D
M!UP>IG<[$,>/,P8C[[-L/\J)!UZE:D>>>ME9J2#F3==@G)U8-WX>_9,<'_OX
M5QJ?_>UYW-?_`$6])MY?]"KH(D=<#L&@)V^B3U8Y78-EHF*<L2KU_M0RS.-R
MVUN85'1L56YX#=@TR="-N!CC&BFDDA/-4N!EV1"N$RG7:II+6LKF71/!_IO7
MY_&SJ*^8H_-'%?>M7D=%J&F8BQQ$58*_*1\W!3L<QF(69B7C>0BY:)DVR3V.
MDXU^U45:O6#]FN15%9,QDU$S@8HB`@.MY-22:>*9CM--IK27+4D&MF-]I&!,
M2YYS5N3Q_16%=RON!8U9GDV:9>JVEU:L>14))-&/+W49(V!5^166.CRED7#1
M!=4HK@HHIQA1779.V*YI?'?M.DK9RA"MOECJ^.&PV3UV.9'9U6=U;39SL1SS
MEM&2)'7%]57>.\7AWG(Y<9(O[9S`5Q9D4!`RJ\`1=>7.4!`?#QR@^YJMF[?Q
M43>/,]"Z_II.^6K_`"6Q6Q:7U'+,$1,(F,(F,81$QA$1$1$>(B(CVB(CKSQM
M'C4@N47[2K]G3'X2^U#)1__16X=>U.?CUOG#:\J>B>ME/J2`T`YOY7G?(DYC
M,A["KU,`5W&GE,NX)!XJ!>^CG*J7^9U*8F.8I14:/UD9UJW(!E#E<2:H^JEV
M:?MUV#E1+4]*\5X]I0SM6*5JV:'X>78.(:UC-/6J0RB2J9%3H'.F<A%DP3%1
M$QBB4JJ8*IJI"=,1XAS%,7B':`AV:/4!&KJ'=53K*;!-S5XP-<\MT]W!-G2D
M[BZ\&P9CENRR#C>2<+#7;$U,K7U&X2**1!9RC=,QRM)-NND!CD*10^';F,W3
M9*$K7BN"TK?J-6JC+6P4U#7Q9"]O!ZI.\W?;2*SCO<ED*"M]4J-J+=(*/B:!
M2ZDJUL)(B3@RNU'U:A8UZY3"-EUR=TH<R?$P&X<Q0$*UEUMN"LGBEP7@BQ73
M74VX1P;Z2/+7,Z&<-NNXW,FU#+->S?@6Y.*)DJKMYEG$SR4=$S*)6<_$/(.6
M9O8:?8RD)*-74>^.'=N6ZI"*@14H%43(<LQG.$E*$L)+:1*,9IQG'&))0?S`
M75B/_P#Z?1)_J8=P<'_;C@==OY>:_??9'R.7\;+_`+2[7YEID>O7U7)1D\CW
M.ZIXFW?-7#-<6>+,*L7`(N4CHJBW>,\=(NVBP$./*HD<BA#<#%,`@`Z/-9EI
MIW/#H7D%EJ$\54N_S(?SG.H<RBAC'.<QCG.<PF.<YA$QC&,81$QC"/$1'M$=
M5SL?M!95LLBX0.*:R"J:R)P`!$BJ1P.F<`,`E$2G*`]H"&@)7R]<SJL$3(DG
MN^M2::1")IE)1,0E`I"%`I2A_P#SWB/`H>[JPLUF%_M9Q>7H>G\2[S\&ZY/5
M8-Z=X5Q_^VEXF+_^-`#4_P`O,?NL?QZ/VD1WYHS3D_</DVTYDS-;7EZR7=5X
MYS:+7(-(MB\EUXF'CJ_'J+-(9C&QB(MH>);H!W2"8"5(!'B81$>$I.4G*3QD
MSK&*BE&*P2,7:@D-`&@-]L6=43J!X3Q_6\5XMW592J&/Z>S/'5>L,I"-=,H.
M..Y6=!'QZLI&/GB+!!9P;ND>][M$G`B92D*4H=(W6P7IC9)1Z3G*JN;]4H)O
MH)INCQG/JL=0S=%#Q-BW?9R0V]XK<1UQSA8D7<:W:/(Q%SWL-CA@^1AD2$GK
M\\;&;B!5"JMHQ-VZ+Q,B0A[.7>8OL4?S2]*TO2]7U^-1POC136Y?BCZGJT#U
M>MPR0T`A9YF#?,CFG<36MH5$F"O*!MM.K*7X[-<JK&7S9/L`3<LSF2,=%<V/
MJNZ*Q`0$#H2#^00.`&3UAY^[\EOHB^6/SV]FKM-;)U>BOUO[I?+Z^0L7JD6P
MT!<HOVE7[.F/PE]J&2C_TEN'7M3GX];YPVO*GHGK93ZD@-`9<P+FV_[;\R8Y
MSIBZ6/"WS&-HC[17W@"IW"RK0YDWL5(IIG3,ZAIV,668OD.8`<,W"J8]AAU,
M9.$E*+YD1**E%QDM#.J-LOW88[WL[<,;;BL:N$R15VAR?7M?,[0=25)N<?P:
M6JF30(FYDI""E2'(4QRD\2U,BY('=+IF'T5%T;ZXSCKV\'\=QAVUNJ;@_P"I
MM+KL<R,KJE]-O'W4@V_N:+)*1U8S%2O'3V%,F+M>\4K=A613!Y`32B*9GKBD
MVY-LDA(HI\QDSIHNDR'5;)D-5S675\-'ZBU>1WR][IG_`.CUG-!S9A3)^W7*
M5RPSF.I2=(R+0Y=>&L,!*(B0Z:J?`[9^P<!Q;RD++-#D<L7J!E&SQJJFLD<R
M9RF'!E&46XR6$D;*:DE*+QBS%>H)#0!H`T`:`-`&@#0!H`T`:`-`;1[/=H.9
M][V<JO@C",`I*6"<5*[G9YRDX"LT.J-UT4YBYV^1025+&P4418H=O%5TX.DV
M0*HX623-]5URMG&$%C)GS.<:XN<GH1TY-C.RW%&PS;S4<!XJ:%72BD_K6ZW%
MRT0;SN1+V^;MR3]PG11YA!9Z=N1)JWYU"LF"*+8AC%2`P^AHHC16H+7M>]F+
M=:[IN3U;."-P-=CD1K]53?W6NGKM1MF4CKL7N5K61U2,'U1PHD=6:R!),5Q0
MF7;(5"+*UJEM0-(R)PX$,5)-MSE5=(\:N;O5%3:?.]"\^H[Y>G\UF#^U:SE]
MV6R3URL<_;[3+/IZSVJ;E;'8YR37.ZDIF=G'R\G+RL@Y4$3N'LC(.E%E3F[3
MJ'$1].L`VBR:`-`7*+]I5^SIC\)?:ADH_]-;AU[4Y^/6^<-KRIZ)ZV4^I(#0
M!H":WHK=4:2Z>V=QK&0Y)^[VNYBD6$?E"+(1P^_<><`"LX;*T$P2$5/$PY3%
M0ET42F4>Q7'@15=LT*%G*YAT68O['K\^HX9BG\T,%]ZU>1TA("?@[5!P]FK,
MO&V"N6&+83<#.PSUO)1$S#RC5)[&RD7(-%%6KZ/?LUR*HK)F,FHF<#%$0$!U
MOIJ24HO&+,9IIM-:2[:D@7.W\8CZ>W6`S-E79Q4KZUK._';?6U7]>RA%5QR\
MB#I,5T267'\].,"'8W"NU68EFS>6:'50>PTBZ$61E#IR#<U3,Y6-ZQ6BQ;?!
MEFC,2I>#TU[O(2"W6[0<_;+,JRN(=P5#DJ?8F:KA2%E>Z5=5.[PJ2W=H6:CV
M,J1&%B@G0&*/.F(+-E#"BY20<$41)ASKG7)PG'"1K0G&<?5!XHUFU\GT&@#0
M!H`T`:`-`&@#0!H#>W8AT[MQ_4'R:A1<*U=9O5XUVW#(&6IYJ[;X]QY&J\IS
MK3$L1/ED)Q=`1%G$M14?NQ]8"$0(JNETJILNEZ:X^2Z3G9;"J/JF_J.P[)+1
MT[>FU=Z_L!V[QN2<Y[@INV5BI;@<J8WQL[N:<3D"6=)QB2V9L@-U6=;HM>@G
M:ZP)P[5R[""135*X(+P7"JV[EZ(41PCID];^-ADW73NEC+1'8B?G5@X&-\O9
M<QW@?&=TS!EBT1M-QYC^">6&T6&55!)LR8-"ARI(D#BL]D7[@Y&[1JB4[AVZ
M5312(=0Y2C\63C7"4YO"*/J$)3DHQ6+9S&^I]U";UU%MRDWE28!_!XQK7BJO
MA3'[A8!3J5'2="<CV01155:J6ZU*D*]E5RB?]J)&Y#F0;(`'GK[I7V.R6K8M
MR-NFI4P4%KV])')KD=`T`:`N47[2K]G3'X2^U#)1_]1;AU[4Y^/6^<-KRIZ)
MZV4^I(#0!H`T`S9T/>M@MM6>P6T_=387#K;;*O1:XZR%("L[=8,EI%R=8T;*
M'(55TYQ=*O5S&/P`YX5=052!X4RI4KN4S;I:A/\`2?=]-Y4S.6_*O7!?Y%W_
M`%&U-_&0-T3W!=2J&Q:K&MV2-Q-BAJ%#9PCY"&>4#!5(L\:M)2N:IIVF^5=O
MFC6NI*#$+LV[IMXQ1(XF.J+5H]VTTTFGBF96#3::TBP&P7<CMBV!YMWO6G#U
M4M>YG-;.24V]X1J5;Y/KFST3#S,)S.VY3+V3I!-W`4/&F2,BM4YMU*/7*H,F
M;8"$2*R:@HB!O;AK>!"]0?;-!,NK-MVQ_)T;='N.;8CV5,,4URSKY+L3ATI(
M-;+=:E'DDWENAZ7C1ZBU;+6U@[2,Y*JHBY;*)</$<K::[H^FR.*[UT'W79.I
MJ4'@1>;^/+7[B<(N9N^[.Y!YN/Q:FJJ[)0G9F##.%98\.8409$)'0614FW:`
M*1@-9%41`"1QN!CZR;LC;7C*OFAW]FWJ[#2JS<)X*?++N%M+34[31K!*5*[5
MJ?I]J@W1V,W6K3#R-?GX=ZGP%1I*0TLW:2+!R0!#BFJF0P<?1JEPVEM-/2M1
M\_H`T`:`-`&@#0'WV-<5Y+S+;8ZA8EH%PR5=9<W+'5:C5V5L\ZZ`#$(=8D;#
MM7;DK5`3@*JQB@DD7UCF*7MT2;:26+#:2;;P0R_M"\NPZJ]0<[DNJ#DJ(P%A
M6FPZENLN,H:Q,`MA8AIR+`7(5Z;"^@:<R7XE(=E%FD91QWH($59NA``T*,A.
M>$K>6.[;]/C44K<Y&.*J6,M^PF4PSU3-N.W^G46-P9L0S;B_IRM[M`XOK>Z]
ME5&E1QRI+6641@(Z\?N?-IHWBP4R6FE"%=65XN=^X7$P+)'>#W!M6%<*HJ$(
MX1,Z4IV2<IRQ9KW,;.=TVSVOY!Q7ECJ8;>=F&RZ_9JR=DTV7:LHWJ.[K-2UO
MDG5I=5B3N%J1ATD[8TC`!,5X5Z^D.Z2[L$W+82H%^^)\ZS;[I'Y9LF/]LNY[
M+6:<XY*LNRZGYBM4IM@SKNFEG*60+!@R(9HHR5RF9J;082+VI3,X4!AN\;HK
M+KF7320()B(%^92C"+G-X11*C*;48QQ;%8.LGU?[7U";Z?&.+G,M5=I=!FSK
MU6#6*M'RN4IUCWK=+(EU:#RJHH`4Y_J>+4]A0/WJP>*4,5'"S.9EF)8+16M2
M\7\:#7R]"ICB]-CUOP(,]5BP&@#0!H"Y1?M*OV=,?A+[4,E'_]5;AU[4Y^/6
M^<-KRIZ)ZV4^I(#0!H`T`:`G]Z2W7(R;L5<0^$\XEF\L[45EQ0:1B:@/KUAX
M72O,H^H*[YRDC)545#F.Z@5U")`(BJR4;J=ZDZM9;-SH?I>FO=NZ/+Y%:_+1
MNYEHLW[^D9JD=A.TK>/A.AH["+;A_&FT3.65ULA;OGN'XAZCD7-U19'5LK3%
M+.U>*&7H,:2YD21DZVZ;L@C$%.""386QV3O;KLKMCZZY8HRYPG7)QG'"1HUE
MF9RWBZI[E^IVYQ&YQ".WXL-L?Z6V#K]4#UN,PK5).[Q&&[/G.;I4@T32A929
M4>NC1Y7:7*#5(S14%VIFBFOL^#;_`"%TNMS6&L,2V?\``V^G>)DC?A2J^-\4
M):\H!8L/YIMD:D24F\<+8CFFB<$TJU@*DLRB&RKH2-#F1[PQBAZ@8F49Z5VM
M]0S-.,MH^ZC9/#63+$OLJH>YW+L]8&80EHV^S5S5AHT^''MA:MH+)%?M"$I*
MF$"-I%NL5-/BHAP`YB\K**KOU()O?J?;K.D+;*OLDU\NPC.RQY<78AF')>4<
M;[4-U]MQEE?%(5YQD?%%D3B<OL**6Z1!9VGI.VW?TRWQ#*;BC=\BJYD90QR\
M>T#%$NJ,_;8O].UKI6/EXEJ.>DOO@GT$>60O*Z[[ZZNY/C[)FW;)D<DHL5OR
MVBW5";5*F80("\=,TUQ$M7!R@'$@2*A2F[.8?3JO+V_,+5Z7T/SP.ZSM+UXK
MJ-5)7R]G5CCG2C=KMMB)M(AA*5[%9MP81JL`#P`Z99?(L2\`IO2'.B0??#7+
M^'FOV7VQ\SI_*R_[O<_(K(#R\75>F7:;9_M]KE61.8`-(3^:\,K-$0'TG4)6
M[S87XE#^P@8?X-3_``\U^R^V/F1_*R_[G<_(W`QIY6/>E8G#93)V:=OV-HPY
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MPF>=X:&_+;-(25=I6\3`>3,,TRE-7&.<K34=CR>F\5R=8<J/XY:-?VA))&-Y
MD&AB*@HH0Y2"0O0^#20FR_<9D7-T]TAKUO,L.+]OF+JB;<3L08/,;0ERCLWT
MM.XFL]8B[Y8I&1C'UI:84=NC-5()<#IG!J=RDB5LU;@($Q65+U0<%[683(?6
MY;;/,D77&=GG1QDO5J,>X*WETW;$1BW50H%^A^_#)5E;LRJ/4(I!*+:DY%%3
MMD$SBERMNKICZIOJVOX[#I75.V7I@M/<)?\`4YZN.9>H38$Z7&-3XCVLT]^D
M&.L(0:R;9!RC&D\-%6+(2T?W3.=L*3<O^&:IE+&Q"8@DV3,H"KI?#S&9GF)<
MVB"U+XV_"-:FB-*T:9/6_C81%ZX'8-`&@#0!H"Y1?M*OV=,?A+[4,E'_UEN'
M7M3GX];YPVO*GHGK93ZD@-`&@#0!H`T!MUM`WS;F-C&0"9!V[9%D*NLY.D6R
MU"0`\OC^[LT@$H,;A47"Q(^4*5,QBHN2=R_:<PF;.$3CS:^Z[)U24H2P?QK/
MB=<+(^F<<4-YX:ZVFP?J;X,M6TC?E&$VXS>4J\VKEC=R<R*.)IJ5;O&4G%SU
M1R,Y35&@S,//QK>39DL*2;-JX02)XQV/$I]6GW"$L%<O3+?L^G7HXF=;DYQT
MU\T=VWZ]6G@22[9-H&^?&UKQ8M+=465S/M=QZ1-:MTO_`"-Q>YN>1:B#`S:"
M@+IF19Q89&;8-6AB`,D@!GCDI>8BB*@IJ)7TU)8Q::*;6#::TFAN,]G^[C+N
M5M[O49@=S^8=A&2;3G6\P53KEWQA'S--L6VW!4(PK%#F\HXQOK&)<E3>QL0Y
M<-U^=9)NWYUT2',MWHR#X+:#NP?[,^F3N3ZI6X5_&6K<'O7R_8[-16@L"09K
M],Q";_'&'JZA"%424CJS&K5^8G#HIJ"+>N\YDQ,8"`8"W]"C)[>N[Q-PN*GV
MY6#W,6#<CMXQQNRNEQ@9P):(A,TMK?,1>6:0@4PI&;R<6^R&CS%[E$5VC5-8
MJ9$N0I0-46>ZF@S>=MZQ=Q_5!ZD.WB>K&]7<74,<U#"CS)-RQ+$8K@;JNWJZ
M+=I'4^X,XERQ=&=-BL4%T$D&3=`"HE`0$PGA@3B[8LL7UIU0<@8%?YAR)DK%
MLETZ]N^8:`A=Y:44*[?1D['T:>OIZ^^!!*)M-X.\(\EC@@BLJZ4'O``0X`1&
MPF=U)`I!U2-JN?[_`-2*5VSX!N5.H-,ZFN+*=D;(9+T>40K%SO\`LW@[=))T
MY8(?G?`RG(V-@U9$C9%1<X*BN81(FJ4\$FWK^UR/4CI,/L]RC6YW8)U+=G=L
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M.3<F:,8QA%1BL(F!]02&@#0!H`T`:`N47[2K]G3'X2^U#)1__]=;AU[4Y^/6
M^<-KRIZ)ZV4^I(#0!H`T`:`-`&@#0&[&U?J*;S-E[M,VWO.MNJ,`*Y5W=#DE
M&MLQU(#SF,MXBCVAO+5]LNY`YBG<M46[P`'B58H@`A]UVV5/&N;7R[-1\3KK
ML6$X)_&_6,.X0\TE]?5EU0-ZNU.#N\'/1+ZO6R>Q!)(HL)^#E&JT=*,)7%F0
M%Y"-D$)./7,FZ3^ODD%2G.4$2E-R!>K]QFM%M::X:/CN*D\C%Z:YM=)OS1.H
M+T&-P5DVRSLQ?$<8.=JL=*,<&XDRG5KW2\8T@LO$-H<[IW!H1DQB.3DXMJBD
M#-PX?K+-5D"JIB`E`VK<<]EY:Y./2GX8E:64OCJBGT/SP-SJOC;I_P"1=X^!
MMX^UW<KM6K$UC*K9/IV0:1AN5P\Y0S+"9$A0:1W[SO:E9XQ]%3-2FBIO4EEV
MCU5<"]P8$P`#!W5]$OMNCCTHY.FV/W5R[&84QCT^>H=@N5S*;:[U$\*06/LP
M9UR=GIU4+%MIKEQ!I9LFS"<A)@>RNK'+2JY4F31JAZAR(CW/.5(@G-QZ)I_;
M)8'P\5K1ES=-L7W'6_=O6MX6`]\5)VK7MOMBAMN-XE9;#M1R4I88MG?)&_2T
M@R8768:UV);OY4[,4P!`7"/A1*54"',43<8ZY)!)O0D;+47=9@7;)B*JT[=C
MU"]ON2,JUYK,#;<EV.V8EQ?-W)9U.RLFP40QG7+&Y2CSQ,,\;L"I,TU#+@U!
M40YU#`')YBB..-T<>GP/M4W2U52PZ"-[=)UGNC(E?<6Y2G[5/[ALN;>).T3F
M)'6*:AD,KBK35IBFL//&8STVM0:'-(34:V(B<J[M^V*4HCR@;M'A//Y>./I;
MD^"\\#M')W2UI+I^F)%5N3\U%ENQ(OX?:IM[JF,R+`=NE?<M2BE^L_A?VO=.
M&%3A"P%<B'Z1C`8H.G<RW`>("F;CQ"I9[C;+17%17:_+YEF&1K7WR;[A=/<I
MO3W3[OY_]X=QN;;ODY=)8R["'E9!./J$*<QCF$8"D0:$74(,>!Q`3-621S!_
M2$=49V3L>,Y-OX[.HMPA"M80BDC5[7R?0:`-`&@#0!H`T`:`N47[2K]G3'X2
M^U#)1__06X=>U.?CUOG#:\J>B>ME/J2`T`:`-`&@#0!H`T`:`-`&@#0%6D_?
M(!RHO7:)?>2<K)A_(0X!J"<7O/RL\>.`X.';E</>6755#_;,;08LIM20&@#0
M!H`T`:`-`&@#0!H`T`:`N47[2K]G3'X2^U#)1__17:=?NEXEQ_\`L7_'6_\`
M;?\`F&UY3FX'HWAB]9Z/RE^HONS3FX$<O$/RE^HONS3FX#EXA^4OU%]V:<W`
M<O$/RE^HONS3FX#EXA^4OU%]V:<W`<O$/RE^HONS3FX#EXA^4OU%]V:<W`<O
M$/RE^HONS3FX#EXA^4OU%]V:<W`<O$/RE^HONS3FX#EXA^4OU%]V:<W`<O$/
MRE^HONS3FX#EXA^4OU%]V:<W`<O$/RE^HONS3FX#EXA^4OU%]V:<W`<O$/RE
M^HONS3FX#EXA^4OU%]V:<W`<O$/RE^HONS3FX#EXA^4OU%]V:<W`<O$/RE^H
MONS3FX#EXA^4OU%]V:<W`<O$/RE^HONS3FX#EXA^4OU%]V:<W`<O$/RE^HON
MS3FX#EXA^4OU%]V:<W`<O$/RE^HONS3FX#EXEQB_W3\2KP_>+_TZ7]/U;Z/J
,E[Q_FTT\"5AQ/__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>g770813g96g11.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g770813g96g11.jpg
M_]C_X``02D9)1@`!`@$`8`!@``#_[1+&4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``8`````$``0!@`````0`!.$))300-```````$````'CA"24T$&0``
M````!````!XX0DE-`_,```````D```````````$`.$))300*```````!```X
M0DE-)Q````````H``0`````````".$))30/U``````!(`"]F9@`!`&QF9@`&
M```````!`"]F9@`!`*&9F@`&```````!`#(````!`%H````&```````!`#4`
M```!`"T````&```````!.$))30/X``````!P``#_____________________
M________`^@`````_____________________________P/H`````/______
M______________________\#Z`````#_____________________________
M`^@``#A"24T$"```````$`````$```)````"0``````X0DE-!!X```````0`
M````.$))300:``````!M````!@``````````````^0```0H````&`&<`.0`V
M`&<`,0`Q`````0`````````````````````````!``````````````$*````
M^0`````````````````````````````````````````````X0DE-!!$`````
M``$!`#A"24T$%```````!`````(X0DE-!`P`````$"D````!````<````&D`
M``%0``")T```$`T`&``!_]C_X``02D9)1@`!`@$`2`!(``#_[@`.061O8F4`
M9(`````!_]L`A``,"`@("0@,"0D,$0L*"Q$5#PP,#Q48$Q,5$Q,8$0P,#`P,
M#!$,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,`0T+"PT.#1`.#A`4#@X.
M%!0.#@X.%!$,#`P,#!$1#`P,#`P,$0P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,
M#`P,#`S_P``1"`!I`'`#`2(``A$!`Q$!_]T`!``'_\0!/P```04!`0$!`0$`
M`````````P`!`@0%!@<("0H+`0`!!0$!`0$!`0`````````!``(#!`4&!P@)
M"@L0``$$`0,"!`(%!P8(!0,,,P$``A$#!"$2,05!46$3(G&!,@84D:&Q0B,D
M%5+!8C,T<H+10P<EDE/PX?%C<S46HK*#)D235&1%PJ-T-A?25>)E\K.$P]-U
MX_-&)Y2DA;25Q-3D]*6UQ=7E]59F=H:6IK;&UN;V-T=79W>'EZ>WQ]?G]Q$`
M`@(!`@0$`P0%!@<'!@4U`0`"$0,A,1($05%A<2(3!3*!D12AL4(CP5+1\#,D
M8N%R@I)#4Q5C<S3Q)086HK*#!R8UPM)$DU2C%V1%539T9>+RLX3#TW7C\T:4
MI(6TE<34Y/2EM<75Y?569G:&EJ:VQM;F]B<W1U=G=X>7I[?'_]H`#`,!``(1
M`Q$`/P#S8\E)(\E))2DDE=Z/T;J76\YN!TRDWY#AN<)AK&#Z5MUCO;76V?\`
MTG[TE-))@-CQ76"][C#6-!<XGR:V5Z[]7_\`%#TK%8R[KMAS\KEU%;BS&'$-
MTV7W[7?GO?6Q_P#W'7=8N%AX50IPZ*\:IO%=+&L:/@RL-:DI^?J/JC]:K]:^
MD9D>+Z75_=ZWII[OJA]:Z!+^D9A'\BIUG_GGU%]#.<UHEQ`'B=$S7M>):0X>
M(,I*?F2UKZ;#5<TU6-^DRP%CA\6OVN3+Z9R,7&RJC3E4LOJ<(=7:T/:0?%CP
MYJXCK_\`BDZ)FMLNZ.YW3<H@EM<E^.YW/NJ=^DJW_P#`O_1_Z!)3XZDM'KOU
M?ZK]7\P8?4Z?2>\%U5C3NKL:.74V?G?U/YQBSDE*22224__0\V/)22/)1,;&
MOR\FK$QF>ID9#VU4LXW/>=C&Z_RDE.K]5?JQG?6;J8P\7V4UP_+R2);563_T
MK[?\!3^?_P`578O=>B=#Z;T+`9T_IM7I4M.YSCJ][S].ZZSZ5EK_`/U'7^B0
M?JQ]7<3ZN=(JZ;C$V$$V7W$0;+71ZENT?1^CLK9^94RM<5_C+^OEN.^SZO\`
M1[2VX",_*9H63_VEI?\`Z7;_`#]C/YK^:_G?4])*=CZV_P",OI?0W6X6"!G]
M382QU8,55._[L6CZ3V.^GCU?I/W_`$5YEUKZ\_6?K1(RLU]-)_[38Q--?]K8
M[U;?^O6V+```$#0#LG24LX![MSY<[Q<23_TD@UK2'-]I'!&A_P"BG224[71O
MKE]9>BO!PLZQU0YQ[R;JB/\`B[3^C_K4OJ7I7U2_QH].ZLZO"ZN&]/Z@\[6/
M$_9[21[=ECY=CV.]WZ*__K=]C[/37C:;G0I*?I/JO2>G]8PK,#J-+;\>SEKN
M0?S;*W?2KL;^:]B\-^N7U/R_JOU#TB77]/O).'DD:D#Z5%^WV_:*O_!F?I?]
M)77U'^+3Z^VUWU?5[J]WJ460SI^2\DO8\F&85CC.^I__`&F>[^9_H_\`-^CZ
M'HW7NAX/7NEW=-SFS5:):\:/K>/YNZIWYME;O_2;_P!&DI^<4E8ZCT_,Z9G7
M]/SF>GE8SMEK>T_2:]O_``=C'-LK_D*NDI__T?-CR5Z#_B>Z(<CJN3UJUH-6
M$ST*"1_AK=;'5N_X+']C_P#PTO/NZ]M_Q3X8Q_J=3<.<VZZ\C^W]G;_T,=J2
MGJLC,HQ[,>JTD/R[?1I`$R\,LR/_`#SCVN6,/J#]3A_WE4$^+@7$_%SG%SEF
M=<ZG8[_&5]6^DB1555DY3]='.LIRJ*Y'_!-Q[/\`MY=FDI\/_P`9OU<Q>A]=
MJ=@T#'P<ZD/K8V`P6UGT\BNMOTF^PX]O_75R*]R_QF]%?U7ZJW/I&Z_I[AF,
M`B2VL.;D,G_PN^U_\M]:\,)`&[MRDI[S_%7]5L7J^7F=0ZEC,R<#'8**Z[6[
MFNO>6V.<W\W=12/_`&97I`^I/U1'_>/B?]M-_N0OJ)T%_0OJUBXES=N5;.1E
M-\+;?<ZO_K+-E/\`UM=`DI^<_K/13C?63JM%#&TT4Y=K:ZV`-:UH=[6L:/:U
MK5V?^+__`!;G,-?6.OTQAB'XN"\0;?SFWY+?^XW^CQW?TC_#?H/9D=#TC_%[
M4[ZS=1^L'6&"POS+;,'$.US-I/Z/+N@NWO=_@J?\#_.?SG\UV'4.H873<*[/
MS[FX^+CMW6VNX`X[>YSW.]E=;/?8_P#1UI*<K-^KWU*P,2W,S.E]/HQJ6EUM
MK\>H`#_MO_,VJ?U5^M&)]9L*_,Q:W4LHO?1L>?<0T-?7:YOYGJUV-]B\?^NG
MUVS/K1EAK0['Z90Z<;%)U)X^TY.WVNO<WZ+/H8WYG^$MLV/\3N<^GZQ96%,5
M9>,7EOC92]OIG_MJZ])3?_QR]%#+<+KU>@L_4\@:<C??BOC;N_[D5V/W?Z!>
M:+WC_&/@?;OJ;U```V8S!DL)[>BX6V?^`MM:O!TE/__2\V[_`#7T#]16M;]3
M^D!O'V5A^9&YW_27S]W^:]S_`,6&6,GZEX+2=S\8VT/\BRQ^P?\`;+JTE.)U
M-Q_\>?I<]L8@?.G-7<=<ZF.D]*R.I.9ZK,5HLL8-"6`M]7;_`"FU[EQ_7\2V
MK_&O]7LW;%.3CV5M=XOJ9E>K_P"!Y-"Z/Z[B?JCU?_PI;_U*2G:(#@01(.A!
MX(7B'3_J38W_`!@#ZNV`NQ,:W[0Y[H.[$9%U.X^S<ZV:L:S9_A-Z]!_Q8=<?
MU7ZLLIO?NR>G.^S/)/N+&@.QK'?]:/I_]971-Z3A-ZP_K(:?MK\=N(7:0*FO
M=?II])SW^_\`XNM)27J&;5T_`R<^_2K%J?<_^K6TV._ZE%I>Y]3'N&USF@D>
M!(X7!_XX^L#%^K]72ZWD7]0LE[1_H:?TEDG\W=?]G_K^]=W09IK/BT?D24D7
M!?XV.@=3ZCTRKJ&'=9;1T^7Y&`(V;8=NSF1#WWT-]GO]7]#_`#'H_IOM'/\`
MUD_Q@]>Z;]=[GU.!P^G/.-]ADBNVLPZQ]O\`W:=N_17?X+TZ_IL];U?4>D=6
MP.LX%74.GV>KCW`P8@@@[7UO8?<Q[')*?FU=/_BR<X?7CIP;PYN0'?#T;7?]
M4U:/^,GZDCHF4>K]-J#>E9+HMK9Q1<XGVM8/YO%N_P`%^95;^A_1_H$/_%)B
M^O\`6[U2-,7%ML!\"XUT#_HV/24^L?65K7?5WJK7?1.'D`_`U/7SBSZ#?@/R
M+Z"^O>:W"^I_5KG?G8[J!'C?^J,_Z5R^?H@1X)*?_]/S8\E>G_XF>L-`SNA/
M^E/VV@ZZ@[,?):3]'VN^SN9_QEJ\P/)5[H?6<OH?5<?JF)K9CNES.SV'VW4N
M_P",K_\`)I*??NJ]+.;D]-RJ]HMZ=D^L'.&IK=7;C7U-=^;N]9MG_64#ZY@G
MZI=8`U_4[S]S'%:/3^H8?4L*G/P;6WXN0W?5:W@C_JFO:[V65O\`?6_V/7D_
M^,KH/6NC9#\S%R\JSH>9[7UNO>YE3WEV[&?5O_HMG^"]NS_`6?X/U$ISO\5_
M6QTKZT546O+<;J;?LKA)V^J2'8;W,;])_J?J[/W/M*]Q7S""0002"-01H00K
MG[;ZW,_M'+GQ^T6_^E$E.O\`XQ^M,ZS]9\NVHAV/AM^QT.'<5%WK/Y.[=D/M
MV?\`!^FO=L6?LU,\[&_D"^98$1V5P=8ZN``,_*@"`/7LX']M)3H_7D$?6_JT
M_P#<@_BUBL_4;ZY9'U8ZAMM<Y_2LEWZW1R&DPW[92W_3,:/TO^GJ_EUTKG++
M++;'6VO=98\R][R7.)_><]TN<HI*?I:RO!ZG@['BO+PLNL&-'UV5O&YKA^:]
MCV_16%]3?J7C_549[:[3D'*N!JM?H\4,;^AIMCV>I78^_?8S^=_D?07FW^+[
MZM=1^L&8/5NR*NAX9/KFNUS&/?H_[%5M>-N_U/4O])GZ.O\`T=MU:]IR,BC$
MQ[,G(>*J*&.LM>>&L8-SW'^JT)*?/O\`')UBJOIV'T5COUC(M&3:`>*JMS&;
MQ_PM[O9_Q%B\G6I]9OK!D?6+K-_5+AL:^&8]/^CI9/I5\N]_N]6W_AK+%EI*
M?__4\V/)22/)224]C_B^^O+OJ[D'!Z@2[H^2[<X@$NHL/^'8&^Y]+_\`M15_
MUZK_``E=WH7UIZV[[1TS#J],]*SK:SE9#ZQDLR*7-LN^Q8F-6S(?D^M55^DO
MK9LI]7&_TOZ/PQ;_`-7/KCF]%J?@7U_M#I%S7-LZ?8\M:-_TS19#_1]3<_U:
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ML+V9'J?X.M;_`$3ZA_4S*?E>KTD-MPKF5$/R+[6DOQ\;-W;+31_W,]+]+3O_
M`$?^#_FTE/CE-=E]S**&.NNL.VNJL%[W./#65LW/<Y=ATCZ@NHLKO^M7K8=#
MP]]6#CM-N3:RH,=?=9]F;>W%Q*O5;ZN[]/\`X+^<LI]3L+/M6+U?J?2.GX5/
M2J14_%Q\WI]#6S=FLK_9=F:W&;;G8M>,]N0S[:S]6MR/I^AZ/Z2GU>SI&#M_
M:[1]7\=E-+Z^DES,JV[(8Z;;OL^';;ZF-D8K<CIF3=DO9^TO7_7=GV2A)3J]
M&ZKU'IW5:NE.PZ:\*]SW58U%E(91B--YIZCCX^.SU/L-S6T.S,KJ653;;FY'
MIX>'_@[>-_QC?7MG7+/V3TJS=TFHM=;:`YOKV-]VWW;=^+2[;]-GZ2]GJ_X.
MI97UB^NV9U7%;TO`8_IW1ZR8Q1:^U]@),#(OL.[T&[OT>$S]7J_X3TJ?3YM)
M2DDDDE/_U?-CR4DCR4DE*22224H$AP<"0YI!:X:$$?G-</HK;POKK]:,-IK'
M4+,JEQ#G4Y@&4P[8+/Z5ZEC-KFM?^CL8L1))3V;O\:'4,G=^T.D]/R"YP>7L
M;94\O:TT-L-GJ6N]3T7OJW?Z+]&I._QI9]62<S"Z3@493VAK[WBRQ[@&MK&Y
MS7T.^A76S^PN*224[_4OK[];>HD^IU!^.TD';B`8_'9UM,9#VZ_1?<L%[WV/
M=98XOL>9>]Q+G$^+GN]SDR22E))))*4DDDDI_]D`.$))300A``````!5````
M`0$````/`$$`9`!O`&(`90`@`%``:`!O`'0`;P!S`&@`;P!P````$P!!`&0`
M;P!B`&4`(`!0`&@`;P!T`&\`<P!H`&\`<``@`#8`+@`P`````0`X0DE-!`8`
M``````<`"``!``$!`/_N``Y!9&]B90!D0`````'_VP"$``$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$"`@("`@("`@("`@,#
M`P,#`P,#`P,!`0$!`0$!`0$!`0("`0("`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`__``!$(`/D!"@,!$0`"$0$#
M$0'_W0`$`"+_Q`",``$``@("`P$!````````````"@L("00'`@4&`0,!`0``
M```````````````````0```&`@$"!`(&!P,("`<```$"`P0%!@`'"!$)(1(3
M"C$402*S-'0546%Q,B,6%X&14J%"PC-SD\,DL<&2LE.C)1AB<H(F1L89$0$`
M````````````````````_]H`#`,!``(1`Q$`/P"$N[^].?Q"WVAL#CX#`8#`
M8#`8#`8#`8#`8#`8#`8#`8#`8#`8#`8#`8#`8#`8#`8'_]"$N[^].?Q"WVAL
M#CX#`8#`8#`8#`8#`8#`8']4$%W2Q&[9%5PNH8"IH()G654,;P`I$TRF.<PC
M]`!UP,A:AQ`Y:;!03=4+B[R*N[94`%)Q4-);+LJ"H"'4/35A:R](?J'PZ".!
MV:7MJ]Q@X`8G`7FH8H^("'%G>0@/7X?_`(+@?,S_``*YSU1`[JT<+^6-;;)E
M$ZCF?XZ;@AT"$#KU.=:0IS=,I0\H^(CT\,#&B=K=BJ[Y2,LT!-5V22$2JQ\[
M%/HA\F8!Z""C200;KD$!#Z2A@>EP&`P&`P&`P&`P&`P&`P&`P/_1A+N_O3G\
M0M]H;`X^`P&`P&`P&`P&`P-G'##L[=Q#GF>/D=!\=;4:@OG"*1]N;"`NNM6M
MT%0`3/FUGLH-#V9LV*("H2$;RC@H"'1(1$`P)2W%CV:5>1:1DSS3Y92TA(&\
MQY/7_&N":QD>WZ`'II([0V5$2+N0*8W[_2K-!`/`IO\`.`-YVA/;B=H?0S5K
MY.+S'<4XW.!U++OJSV#9+MX)3`8H.:XY=QVO@(`AXE2AD@,'@;KXX&VC7''7
MC_IV/:Q6IM'ZCUE&LDRI-&-!US4*BU;D*'0I4D8&(8$+^WIU'`[C`I0`````
M`^`````?L`/`,!T`?B`8'[@?)V>A4:[,U(^Y4RJ6U@L0Q%F5EKT1.M%2&#H8
MBC>49ND3D,'Q`0$!P-:N[NR#VI.0(22M]X0Z4CI24*H+F?UI".]/SOS"G41?
M?F&K']0.L\*<?-YU@5`P@`&`P>&!I-Y!^SGX:7!@Z=<;N0^\M*6(_P`TJ@QO
MZ-8W%2@.8!,T:I,6[#7]K:($/]4RJDN\/Y/'RF,`^8(T',;VTW=#XE-I.R0^
MLH;D[KR.1=O5K9QT?R%LF63!N)C%-*ZUF(N!V&#TR`>=0D:PE6Z7B'KFZ=<#
M0=*Q,K!23Z&G(R0AIB,=+,I**E6;F.DH]XW.*:[1\Q=IHNFCI!0!*=-0A3E$
M.@@&!Z_`8#`8#`8#`8#`8#`__]*$N[^].?Q"WVAL#CX#`8#`8#`8#`VL=N/L
MV\V>YG.MG.E*":KZ=;2@1]GY`["3>0>L87Y==)*3;0SST#OKU86*:G48Z(2<
MJ)G\H.#MB&]0`GU]O?VT?;[X5MH:V[+K)>76[VA6KES=]SPT<ZH<+)HD."AJ
M/J$!>UB.:"<P'(I,J3T@DH0#I.4@^H`2'&;-I'M6S%@U;LF3-!%JT9M$4VS5
MJV;IE20;-FZ)2)((()%`I"%`"E*````&!R<!@,!@,!@,!@,!@:S^<_:'X$=P
MN(DR<@M'01;\\;'18[LU\DTI&Y(9?TTTD'B=QCF:@6$&9$B@FUG&\K'@`>+<
M<"!SW-/;"\P.&*4_M#C<I)<N=`1Y7,BZ4J\$9#=5&BTS++&_FC7T<=X-J81S
M0A15DX/U>H%.JLR9I%ZX$8\Q3$,8ARF(<AC$.0Y1*<ARB)3%,4P`8IBF#H(#
MX@.!XX#`8#`8#`8#`8'_TX2[O[TY_$+?:&P./@,!@,!@,#Z"IU.TWRS0%*I%
M<G+?<+5+,8&LU:LQ3Z<L-@FY-PFTCHF%AXU!S(2<D^<JE32113.HH<P``".!
M.K[/_M6&L:%?Y`]SV)0?295&<O4N)T?+H.XMD*2@.&[S=M@@W:K676.)"&"O
MQKD[0"#Y7SA;S*LR!-_JU5K%'KD)3Z778*HU.LQ;.$KE8K,2P@:_`PT<@1LP
MB8:&BV[6.C(UDW3*FD@@F1),A0`I0`,#WV`P&!TUN3D7H#CM!%L^_-W:ETK7
MU/,"$QM38=3H+!VH0HF]!BXM$M%D?.3=.A4D?.H<?`I1'PP-1.S_`'*?9NUB
M,@U#E?\`U"F(]0Z0P^L-5;<MI7AB>8!&/LP4EC17B8F+T*<LMY#=0$!Z>.!K
M[N'O&.WM#O%VU/T'RRN:"1C%1D'%=U;6&CCI\#D3>;/?OTTS_1YT"FZ?$H#X
M8'3Z_O.^,Y5A*VX6[U6;]?!5?8-`;K>7K\1;IM71`'I]'J?VX'V=?]Y7PE=G
M1+9^*_*2$*<X`LI#*ZHL1$2B(=3E^;O-<45\H?1Y0ZX&;VK?=/=GW82*9K/M
MW:&EG2I2B#+9VD=@/3@H(@'HF>:JC=FQB8@(_OG7(GT^)@P-L''GN*<%.5YV
M;3CQRRT3M*;?)BLWJ$#L.`0O_I``"*CG7<N[C;TQ('7XKQR?CU#Z!P,S@$!^
M`]?V8#`8#`CG]V[VZW&#N&,K+MG3[2!XY<MG)'4F%]@(DK2@[2ES"JX,AMZK
MQ*)2N9"4<'$%+"R2_-R&,!UP?$(5#`K;^8'"KDOP0VY(:4Y0:PF=;71LD9]$
M+.10D:Q<H$5CHM[-2+5'*.82T0+@Y/**K98QVRH&0<$1<)J(D#%?`8#`8#`8
M#`8'_]2$N[^].?Q"WVAL#CX#`8#`8':VD-'[7Y(;5I>D](TB:V)L_8,PC!U6
MJ0+?UGK]XJ!E%5EU3F3:QT9'MDSKNWC@Z35HV3.JL<B9#&`+0CLK]AS37;&I
M\;M#9!(#;G,VRPQ"VG9`LOF:[J]&00_]0H^H$Y!(KEHS3*H+=].*)HR$N!3?
MPVC906@!(*P&`Z]/$?`,#29W$._KV_NW>:6J%IOBV[=Z1Y3HAH[2J\79+%%/
MQ25%%*^655XC4J"BFN0H.$7;I2733."B;!<.@"$*7FU[ICN,<G7,K`:0DH3A
MSK%RJJ1G%ZL6&=VDNQ4()`1G-O33!L^*Y*(^8JL'&P)@Z]!\W0!P(Z=XV#?=
MG6)_;MD7:V[`M<HLJYDK-=;',6F??N%CBHJL\F)QX^D'*BB@B(B=01$<#Y#`
M8#`8#`_LW<.&;A%VT76:NFRA%F[ENJ=!P@LF(&(JBLD8JB2A#!U`Q1`0'`W"
M\->_+W-N$ZT1'47D+.;/UY%%*W+JC?9WNTZ6+$HE\K&.=2\@C<JPW2`/X98F
M68D(/@)3%ZE$)D7`'W8?#;D:[A:!RVJS_A]LE\*+-.W2$J:Y:&FGQ@;(%.:X
MMX]A8*$H^<J'."4NP/&LT2_Q94XX$J&NV.O6^#B[-4YV'L];G&:,C"V"OR;*
M9A)>/<E\[=_&2L<NY8OV;@GB15)0Y#!X@.![K`8&$_/+M_\`&[N+Z.EM'<C:
M>E,1QP<OJ9=(LK9I>]9V=5N+=O::1.JH+GCGZ8`4%T#E49O40])PDHGX`%5-
MW1>U=R&[6F\E]9[9:_S5KFR+OGNG=W0D<Y:5+9=<;J@)?,@JHZ_ENYQ:"A"R
ML,LLL=HL/F16=-3HNE0UD8#`8#`8#`8'_]6$N[^].?Q"WVAL#CX#`8#`^HI%
M)MVRKE5M>T"NRUNO%WL$15:C5X)HH^F+!8IY\A&Q$1&M$@%1P\?OG)$R%#Z3
M>/0/'`M3.Q?V6*#VP-,MKQL*,A+9S,VE!-3[4O1`2DFU`BES`\1U+KUXH4Q6
M<+&'$@RSY#RGFY!/SG,9L@S21#?I@,#HWD9R3T?Q+U):MY\AMBU[6&L:<T^9
ME['8')B`JNH!@90\-'-R+R=@L4LL7TF4<R17>/%A`B29S#TP*[/NO>Y^Y(\M
M7MET[PP=V/C'QQ6^:B7=M8N"Q^^MH,!5,0SF2LL>X5-K2`>I$()(Z&5+("43
ME<R"J2HMDPBM+++.5EG+A55PX<*J+N%UE#JK+K*F$ZJRRJ@F.JJH<PB8QA$1
M$>HX'\L!@,!@,!@,!@,!@;;.VOWHN:W;*L;!KJ>[GO>CUI$CBU\=]C.7LQKJ
M5;*JJF?KU8WJC*:XL2OS!U2/HA1%-5R!#/6[U(@H&"RT[9'=QXI=T?7)[#IB
MP#6-J5Q@V7V9H:W.VB&PJ.N<J":T@W03,1&UTQ5VN";:98E%NH8037(V<>9N
M0-I&`P,3N:W"S0O/KC]<N.7(:J)6&FVEMZ\7+-03;6FAVMHFK^17FD3(IJ+0
MMG@'*@G3.`&0<HF4:NDUVBZZ"H5(7<C[>6ZNVCR9M''K<#49!D0%)_6.Q631
M1O7=HZ]=.UT(BU0_F.L5J[*9$S>18&4.M'ODSI&$Y/354#`7`8#`8#`8'__6
MA+N_O3G\0M]H;`X^`P&`P+%7VP'9NCM$:S@NX=R,J""N\=L08/\`CU79YBDH
M[U/JFP1RR!+T1%<IS,+KM*%?F%)0/*LRKZY4^I3O721`F)X#`P0[AW</X]=M
M;C_-;WWW/@4Q_FHK76NXE9`]VVK<RMA7:5:IQZ@^/3S%.]?+>5E'-A]5<X=2
M%.%4[W'NY_RA[F^X7NR-[VITTIL7)R2NK=*PD@\#7.JH5X<$TF4)&G,FE)6!
M9DDF20F7"?SK\Y/$4T0202#71@,!@,!@,!@,!@,!@,!@=HZ8W7MGCOLFL;AT
M?L&T:OV;37@OJW<ZA*.(F9CE5$CH.407;F`KI@_:JG1=-5BJ-W2!S)*D.F8Q
M1"S<[%W?CH7<KJ3'1V[W,#K[FI3H$%I2"2%.,KV\8B);])&]:Y;'$$49M!!,
M'$Q`IF%5H`J.6I3LB*?+!([P&!JZ[M7;&U9W1.+5AU#:6D1"[:K#:2L6@=JN
MF)5I+7=],B@?T#ND@!Z>GW`&"+*;:%,)%FX)K@07#5L<@5$6W]2;#T+M*_Z7
MVS67]-V5K"V35*NM9D03%S$S\"]58OD2KHG5:OF:ATO4;.D#J-G;<Y%D3G2.
M0XAUS@,!@,!@?__7A+N_O3G\0M]H;`X^`P&!OP]O3VP?_P"C'-.-EMBP1Y#C
M/QR-#[&W&+E$PQ=OE1=JFH.JE#@JB90EOE8Y5Q(%+YO_`$A@Y((D.LB(A:YH
MHHMD4F[=)-!!!,B***)"II(I)E`B:::9``A$R$````````P/ZX&-W+?E;IKA
M/Q]V+R3WS8R5S7>N8CYYZ*12.)B?EW:I&5?J=9CC*)FE;+9I==)HS0`Q2>HI
MYU3IHD45(%1;W*>XSO'N:<D[#OK<#Y6/A6YW<)J;6+-ZJXK6J:`5V=:.KD04
MQ44WDJZ+Y5I62,F1:2>=3F`B1$44@U]8#`8#`8#`8#`8#`8#`8#`8'V6O-A7
M?4UZJ6S=:VB8I5_HD_&6FH6N`=G8S$!/P[I-Y'23!RGXD6;N$@$2F`Q#EZE.
M4Q3"40M8^Q=WA*GW2./0Q]T=0U>Y:Z=CHN-W;268`Q;V1FJ!V<1MFG,3C]>M
MV=1L)7S=(3C$28F0.!45F2BX;T\!@0EO=F]KE*X4F'[E.FZR4;706\52^3S*
M*;"*\]1#J-(BC;,6;H$$RSVE/%"14DKT,8T6Y;*&$J3`XB$`#`8#`8#`_]"$
MN[^].?Q"WVAL#CX#`YD='/Y>08Q,4S<R,G*/&L=&Q[)!1R\?OWJY&S-DT;(E
M.JX=.G"I2)D*`F.<P``"(X%OQV6.WM&=M[@;K#33]DS+MRWD':V^Y=`IQ5?[
M1M["/%[#>JIU.9C1H-DR@T`+Y4E/R\[@"%.X4ZAMDP`CT`1'X!XC_9@5U/N)
M=F]Q_N*\D5M*Z<X7\R'7$CCE9)F(IBD5QWV^O$;=V(R4=0M@V^91G5%FTG!F
M2*JRK1Q,<I8LZCHOD,_5(4(ZJ?;`[DBW3TN`7,P_7X>7C/N0?_T[`_LMVN>Y
M2W;KNG'`'F6@V;(J.'"ZW&K<"22"")#**JJJ'J!2IIIIE$QA'H``&!@D("`B
M`@("`B`@("`@(>`@(#X@(#@?F`P&`P/N=::RV%N6^5C5^J*98]A[%NDB$14Z
M748IU-V.PR9D5G/R45%LDU73M<&[=100*4?*0AC#T`!'`SX+V9NZR;X=OWE-
M_;J:RE_[S4,#E$[+?=?4_=[?_)X/_GUG,I_W^H0O3`Y1.R?W9#].G`/DD'7X
M>>A.TOM%2=,#!_?''G=O&#8;S4W(+6=JU)LF.C8N8?4RYQ_Y9.-8R;;_`#<2
M]6:"=02(/VWUTQZ^)<#IK`8#`SOXQ=L7GSS,I4EL?C)Q>V3MJA14XM6G=OA4
M(>,KYIYJW0=/(MC)V27A6THZ8H.DA<`U,M\N*A`4\HF*`ADX3V_O>*4_=X*[
M.#]'GL.L2=?^W>B_#`S%X*]KSOV<!^3FM.3FF.%FQFUCHTL0DY7G%XU:UA+_
M`$A^JBG:Z#9T4MB)BZ@[)')B0>O4S9P1%REY5T$CE"SHU]99:Y42FVR?IT[K
MR=LM8@IR:H5G5C%[%2Y:4C&SV1JLXXA'LE#.96`>+':KJ-'"[911(3)*'()3
M"'V&!\=L.@4_:U"NFL-A0+&TT38=5L%)N5:DR&4CIZKVB*=PD[$/2%,0XMI"
M,>JI'\HE,`&Z@(#T'`IM>Y5PCMO;TYG;GXNV<SM_'4V="5UY973<R`7'6%E(
M,M1[&GUZIJ+K1*P-GGIB8B4BU<)=>J8@`8)8#`8#`__1A+N_O3G\0M]H;`X^
M`P)!_MH.$J/+[N9Z_M5HC$9#6'%.,4Y!VY)VF<S21M,`^;1VI8,IR@8@//ZA
M/6LQZ:@"FNSA'*8_O!@6K.`P.(#]B+X\8#QJ,BFU3?'8`ND+PC)551!)V=MY
MO6*V571.0J@E\IC$,`#U`>@<O`8`<"H*[Y/"H."?<HW_`*JA8H(O6MUETMU:
M>32.4S0->;.5=RR<8R*!2&0:U.UHRL(0A@\P%C0,'F*8IC!J,P&`P&!,)]H'
MPR-LWE9MSF=9HI92L<;:B-&H#U8A`9N=J[68/V$HNV,8#"X<5G72+PBQ0`/2
M&;;G$>HEP+%_`8#`JW/=9I^3N]W\W3IZVD]'J_M_^V7"?7_R\"-U@,"1GV.N
MPMLGN5VN,W;NQK8=;<**Q,'))V5(IXJS;MDXM42NZ7K-5PB<Z4*B[)Z$M/`0
MS=MT4;-3*/"J?+!9Z:IU3KG1VN:?J34E.@:!K>@PC2NU"GUI@E&PL'$,P-Z3
M9HU1``$ZBISJK*G$RJZZAU5#&4.8PAV#@,#`2_\`<PXBZYYM:@[?<YLAJXY)
M;BC9R1C:U%E1>QE14C8!W9(2&ODP#@C:N6*\1T>N:&CS^=TZ\B8F(0KEH*X9
M]X#`A=>\(X1M[IH_2?/"I0Y!LVFITFFMLO&C,QW+[6E\>G>T25E'1"#Z;&F7
MX%V:7F$`%2SCX^!0P*]S`8#`8'__TH2[O[TY_$+?:&P./@,"R[]H_P`5D=0=
MO2T<C91D"=HY7;0F91DY5:%0<DUUJ5[*:_K+4%3E]=5!:UHV!V4?`ADW)!*`
M_O"$JW`=>GB/@&!'@[6_-I7FQW7>\)-0DP>1U;I&,XLZ`U2DFLL=B,1KB;Y%
M,K?.M"F4%!0MHV,YEGB2Z92>JQ.U*;KZ8&$)#^`P&!#S]WWPK_JAQ9U%S3JL
M8*MIXUVI2B;"69L`4</-2[5>L&T?(RCQ,!6^4INPF3-)L00$B?\`,+DXB'CU
M"NCP&`P&!;D]@;ADGPI[8O'^HR\2WCME;;B#[_VJL1(R;M>R[31;34#&2('^
MN1[4]?!#1"Q.OE!PQ4,'3SC@;G\!@,"KK]U^GY.[I;#=/];H322G[>D7,)_\
M/`C5X$IGL/>WQMO/&5KW*/EA#S=*X<Q4@5[6:TH+N%M/(QY'."^=E$+D,WD(
M/5R;@@IOI=(2.)`2';,#$-ZKML%E33*74=<U.NT2@UF#IM+J,.QK]7JM:C&D
M-`5^$C$"-8^*B(I@D@S8,&;=,")IID*4H!X!@?38#`C-]^7OV5#MV563XZ<=
M)"&NO-*WPQ@4-U;R==X^P4HUZM;=<$!*LVDKJ_15!2&@S^`%Z/7OE;@W0?!6
MNQF_MP1V^(GDRM?;#,[RB=F1>X";%GI)U+6-]L*(L+:T-K%)R#Q51P^=J3+4
MJBGG,('#J7]WPP+G+AUR2JW,#BWHCDS30!*#W-K6M73Y#S>=2%EW[(B5DKJY
M@$0%U7+&@[8JB`B`J-QZ"(8&2F!BGSEXVPO+_B!R+XU3A2>AM_5%MJL:Y.0J
MGY9:%8U5[3ILA#_5,M!6QFR>$#PZF0#Q#XX%*K-0\I79B6K\VR7C9J"DG\/+
MQSH@I.6$I&.E63]DY3'Q37:NT#IG*/B!BB&!ZW`8#`__TX2[O[TY_$+?:&P.
M/@>:::BRB:**9U5E3E3223*)SJ*',!2)D*4!,8YS"```!U$<"[#X2:%1XN\/
M^,W'A,""XT[H_6M#EEDP`"/+#`U2,:661````ZR5@*Y<#^M3`RBP,#>Z!R<3
MX<]OSECR+(]/'S5`T[9$:4[3$@'2V3<2H436/[X&#R&V#9XT#CY3=""(]!P(
MC7LM7"SB\]Q15PJHNNYKG&=PNLL<RJRRQIC>QE%55#B)U%%#JB)C"(B(CU'`
MGKX#`8'2O([1=+Y.:$V_Q\V(S(^I>XM>VC7\\F)?,HW:V.*<L$I)H;P%*1B'
M2J;ILH`@9)PB0X"`E#`I3]U:EM^A-P;1TCL!D,?=]1W^VZYM;3R*$(G.TZ<>
MP,B=OZQ"*':+N&)E$#].BB)RF#P$,#K'`8&SSLX\-E>=G<6XWZ)?1CB1H9+>
MEL?;9DVP.6K;5VM@+:K,WDO-U3;L[,HR;P9%#`(`YE4@Z"(@`A<5$(1,A4TR
M@0A"@0A"AT*4I0Z%*4`\```#PP/+`8#`J^O=EI^GW;)@_@'K<=M+*=?T]"VA
M'Q_W6!F3V!O;IR.^G-+YJ<]*:]BM'(&C[3IG0D^@JRD-RB*97D/==B,3&2>Q
M^KR'%-PRC5/35L/0IUR_E8^F_"PPCHYA$1[&*BF32-BXQHV81T<P;I-&+!BS
M1(W:,F;5`I$&S5JW3*1-,A2D(0H%````#`YF`P(KW?Q]P%6^"<'8>*G$^<B+
M7S'GHU1A:K.@+:5@.-T7*,TU$I.40.FX8R^TWC-T56,BE/,C'E,5V_(8OHM7
M05J=ELMBN=BG;=;IV7L]JL\M(3UCL<_(.I:;G9N5=*O9.6EI-ZJL\?R+]XL=
M5990YCJ',)A$1'`])@6,_L\>3JVPN'6^N+LN[5<2?'/:\?;ZZ5PX.<$*'N]E
M)/F\:P0.(@FW87>ES;E7R?5!22*(@`FZB$P'`#X^`_`<"H'[[FA&G'+NS<TJ
M%%-3M8*>V@7;D$42>1`6>[:]"[8>(LP_=^4CINWNV90#P)\N)?\`-P-1^`P&
M!__4A+N_O3G\0M]H;`X^!FOVV]3L=Z=P+A=J262*O"7GDUIF'L"!B><J]<_G
MR$=V)`Q?@(+0C5<OCX!U\?#`ND`#H``'P``#^[PP/W`BA>[[W/(T3MRZUU/%
MO"MQWIR-JD;8&Q5Q(K(5/7U<LMX70%`/]>V1M[&$6,(^!5$T_IZ8&M;V62G3
M8/<&1_QTWC@I_NIO<Q?^-@3YL!@,!@5L'NW^%J^E^<%-Y:5N(40HW+*FMDK*
M]03(5DUW%JN-B:M-('(B`%:&G:*6$=D\X`9TZ3>J`)A*H(!$VP&!/^]G3PP"
MMZTY"<[[1$`G*[(D4M!:FD%>@+$I-5>,K)L]\W+X^9E8+DE$-`-X""T"J'PP
M)M6`P&`P-'NZ.R?I;E)W1U.X)R7/$;&I5*U?K.H:LT4[8G=5^0NM.7GWCVY[
M-3=I@TG(J-5E40CH<H*-EUTQ5>"=,I4#AO`(0J92D(4"E*``4H`````'0```
M\```P/+`8$3[O]^X'@N%439N(?$&Q1UAY<S4::/O5\CS-9.$XXQLBB7S$,)B
MN&4GMQZS4$S1B8#IPY#E<N@]3T4%`K;9V<FK1-S%ELLO)V"Q6&4D)R?GII\Y
MDYB;F95VL_E):5DGBBSR0DI%\X46765.9154YC&$1$1P/58#`E'^T?W0XU]W
M/IG5ZTD9O$[\X_;!K)8T3=$9&S49Y";(AUQ*(]!<,("N3`$$`Z@58X?`1P+-
MG`8%;U[Q36#6L\_-";09,BMB;0XQ1<9)N2%`H/YW7VPKJS674$`ZG72@;!&H
MB(^/IID#X`&!$<P&`P/_U82[O[TY_$+?:&P./@;NO;ETAO>^\IPR8.R`HV@)
M_95W,`].A7%*TSL.QQRGU@$`%*48(&#Z>H!T\>F!;78#`@.>]'O3Q>^\"M9D
M6$L?%5#>MZ<MRF'HL\GYG7%?9+*%Z]!%LA6G!2#TZAZI_P!.!ZWV6RG3:G/M
M+K^_K[0*G3_96/:)>O\`9ZV!/UP&`P&!I1]P)PD2YO=L[>%=A8DDCM'24<MR
M%U.9)HH[DUK#K*+DY&P5R+3;_P#,KO;G1%I6+;HAU*H]<H&,41(40"I%P/?U
M2KS]WM%;I=4BW<Y:;?/P]7K4*P3%9],3]@D6T3#1;-$OUE74A(NTTDRAXF.<
M`P+HK@)Q6KW"7AQQZXOUPQ%T=3:XA8:<DBH-VYIRZR!5)V^6!1-J0J8&G+E*
M/G0`(G,4BH%$YQ#S"&7^`P&`P&`P&!$F]POW^9K@^[FN%7$PITN3\U6FCG8V
MU)2,=EC=)UNV1(.X=.EHNR-V\_LF7BWA'2#OHO&Q")B'$%W1O3;!7!3$Q+V*
M7E)^?E)&<G9R0>2\U-2[UQ(RLO*R+A1W(24E(.U%G3Y^^=*F4564.9110PF,
M(B(C@>MP&`P-NO87N;JB=WW@C,M%A0/(;C-3UC`82@=I?ZA:*.[1-T$.I5D+
M`8O3X"(X%OG@,"#3[TBF-3U;@-L,B/1ZUL&_*8Y<`4/KM7\;J^;9(F-^\/I+
M1JYB_0'G-@0+<!@,#__6A+N_O3G\0M]H;`X^!(9]K>DDIWDM!&4`!,C0-]JH
M]>G^L'3]M1'IU^GTE38%J?@,"N]]YHHH/+KB"D/7TB<<;&H3]'J*[-F2J=/U
M^5$G7`^_]ETITW/SO2\?KZQTDI^K^%:K^7Q_WV!8!X'B8!$I@`1`1*(`(#T$
M!$.G4!#Q`<#5WV=>;0<\>"6K]L3,FG);-IKJ;TMN<QG;=R^/LW5RZ4')S4H5
MN/\`RCZ[PAH^PBD8I/(26*!2^3RB(;1L#Q,4IRF(8`,4Q1*8!\0$!#H("'ZP
MP*=?O(<-AX*=Q;D=HN,A5X77ZEM5V-J%(XE.V5U9L;SV6L-X]8I"`NTKJCIQ
M#&-TZ@O&J%'J8HB(9U^V&X;%Y3=SFBW^PQ"<EKOB9#K[[GC.>GRI[O&.DHG4
M3,OU3"9^UO#Q*91+X%$L*IU'PZ&"T_P&!K0V1S.1:]TKC3P,K,HW.YEN/.Z^
M1>V&C=81=M&L6[@:9JF*=@3ZI6TFY=V!ZJB<?-YF353IT\HB&R_`8#`8#`CX
M=_7LT5_N9Z(/L?5,1%Q?,K2L$\<:PG#'1CB[.J[<Z\E):;M+X_E0.C)*J*KP
M+IP(%CI<_E%1)J[>&$*KR?@)RJ3LU5[-$25?LE<E9""GX&99.(Z7A9J)=K,)
M2*E(]VFDZ8R$>];G2614*4Z:A!*8`$!P/4X#`8&P[M(KKMNY_P``E6PB"O\`
M[M=%I^'Q]-?8$(@L'[!14,`_JP+EK`8$+GWGI2CQOX4'']\N[MD%+X!U\IZ'
M&B?Q^/Q(&!7NX#`8'__7A+N_O3G\0M]H;`X^!OC]M#:&M8[S?$SYM7T4;"UW
M95RF$WE`SF6T1LCY%+KT'J*KYNF4`^DPA@6PN`P*_#WH-9<M=[\&[B9(P,YO
M4FW*RDOT^J=S5KC591=+K_B32N"8]/T&P/SV7Q^F^.<J7^/4FHE.G^SN-L+U
M_L]7_+@6"&`'X#@5VGM7^<"&D^?6_>%USF#-*=RCD[1,Z_2<&2*Q9[GUBXL$
MF#0IU/)\LI<*"F_1$0-U7=QC-$I3'.7H%B7@,"%O[PKA,I=M*:,YV4^%35FM
M+S*^G=O/6K<QWR^N+Z^2?:_EGZQ2B4L53KZ1VS+U'KZUH#Z`'H&:_M4N%Z_&
M[MSDWG:HI-AL#F';EMG?QVGH2K+559!W5-6QSM0Q?,JUE44I*P-!*82BUGDQ
M\#>8`"3C@<1^^91;%Y)23INQCX]JX>OGKM4B#5FS:I'7<NG*Z@E310;HD,<Y
MS"!2E`1'PP(`_:!YDN>=WN8=[<E$W[QW4[MK+>D'J])ZB=JJRU/3$*G6M=MS
M,3=!8N'-7A$'CE/IU^<<K&-]8QA$+`/`8'X(@`"(CT`/$1P,8^/G,_BWRLG]
MO5?CMNNE[9G=#W'^0]JL:JZ=KC5[(9$ZR297#IHU:SL.Z,BLDA*1IWD6NX:N
M$4W!E6ZY$PR=P&!"M]S/V/7NX&-A[BG$FF"\V?`17SG)O65=:E%YL&LPK(0+
MMRMQB(>H^NM9C6Y4IEJB`J2<:B1PD07+94'85].`P&!M,[(]:4MG=GX#Q*21
MEC(<B*A8#$+UZ@C4BO;6X5\/'HBWA3'$?H`N!<.8#`A(>]%L+9'4G`^J"H3Y
MN2V-NZP%1Z_7^7A*SK^..IT^'E]2PE#`@#8#`8'_T(2[O[TY_$+?:&P./@;(
M.S[L%MK#NC\"K@^>A',$>3VJ:_(/3F\B;>/NUD:4E\9<XB`$;"TL)P4$1Z`F
M(B/A@7)&`P(<?O*M4_GW$'BGN5!@LX<ZVY!3E&<ODR^9)A$;3H,E*./F!`.I
M"N9;63$A1$>GF'I\1#`U^>S!4Z<C.;277]_2FLU.G^RO4N7K_9ZV!8/X`?@.
M!21-=IW+0/+(NY]>/BQ=\T[R!4V+3WRI#*(MK)1MA'L$.9VB4Z8N&9GT:0JZ
M0B!54A,0?`PX%R]Q5Y#4OEEQQTMR1UZX]:I;EU[7+S&I&$!7C%I=BF>5@7H`
M8X$DJ[,%<,')>IO(X;G+U'IUP._\#'WE9QNU_P`O^.6XN,VTDW1J-N6CR],F
MG+`40DHE1ZF5:(L,29PFLW),5F;;MI!F90AR%=-4Q,40`0$.T-=4*LZKU_1]
M8TJ.)$4[7=0K=&JD4F83)QM<J<.S@81B0QOK&*UC6"9.H^(^7J.!]E@:'_<=
M<QT>(G:ZW4VB)8D?L?D<BGQTU^DFN=%]Y+^U=$V#*M1043<H_E&M&DL)%RB`
M)/%FX"("<H"$,OVH"GD[NE3+]"VA-VI_W140KT_\K`M%,!@0O/=-=WO=_&A_
M"=O70'SNOY';^GH[8^VMQL7ID+(I0+;8[C3VFNZ,HV5(O`+RAZ6\-+R7W@S1
MPF@V%(164$(9/;E[@.Y^VSR>IO([3SLSU)@<(/9&OWCQPUKNTM<R"Z(V"G3H
M("()JJ$3*YCGGD4-'2:"#@"*`0R2@6Z7##F'I;G=QVU_R5T/8"35)O4:4[F.
M74;EL%-LS0B9+#1[<P066_*[-6WQQ1<)"(D4+Y%T3*-UDE#AE/@>)R$4(=-0
MI3IJ%,0Y#@!BG(<!*8IBCU`Q3%'H(?2&!6R^Y+[)2O#_`&#-<WN,U6,3B]M.
MS>OLRF0;$_R6A]CV-X)CN6C9JEZ$9J^\2[G_`)$`\C>*DUOD2`1%5DF`1,\!
M@2,/:PZE'9?=ZU995$?69Z1U;N+:KH#)F.F"B]34U?&B8P%,4BB,ILI%8G40
M^LEX?HP+3C`8%>+[S/8PR?*SB#J<C@#ITO0-IORK<#=?2<;'V$\@`.<O^:91
M#61>GZL"&C@,!@?_T82[O[TY_$+?:&P./@>[K-BE:A9*_;(%R=E.5><B;%#/
M$Q$%&DM"/V\E'.B"`@(';O&Q#AT$!ZA@7@&E=H5[=VG=4[EJ*Y7-6VQKBD[(
MKJY#%.!X6[5N-LD:(B4QP\X-)(@&#J/0P"&!V;@:A._'QN=\I.U#S`H$,S2>
M6FJ:^2W34P,D59T$MI*9CMFOFD8`E,8).>K-;D(M+R]#'^>$@?O8$4WV8JG3
MD]S/2^@^AJ&IT_V6P5"_\;`L+<#\'X#^P<"CIW@EZ.ZMOH_#TMH[`2Z?H].V
M2Q?^K`GF>SYYQ!=-+[KX%7*<2-/:9E_ZQZ;9/7RBCUYK>^2)FFPH6):*J&(C
M&TV_&;OU`3``,M:#&$/`1P)I>`P&`P*U?W;G,W^MG.FG\5JU++.*7Q(I*"%C
M9HKE/'N-P;3915LL*X"B/IN5(6D_D3+Z_F,U=?.)!Y3"H`AT+[4M3R=WN@%_
M\72>\$_#]5805_N_A8%I%@,"M&]X.7IW0]6#_CX4ZK-_=N+D$7^W]W`BH8&Z
M[LF]WR_]J_D(1Q,+S-JXM;5D8R.WKK9JJHZ,S3(=-JTVA2X]14C=&\U9L80.
M0HIEEF`&:+&`Q6RK<+8/6NR:)N*@4_:>L+5#7C7E_K\9:J=;:\]2D(:?@)AL
M1W'R3!TB(E.DNBH'4H]#IF`2'*4Y3%`/M\#X?9FM:)N/7URU5L^KQ-UU[L&N
MRM3N-4G6I'D3.P$TT492$>\1/_FJH*CY3E$JB1P`Y#%.4H@%3CWLNTG=^UCR
M47A8EO,V+C%M5U)SF@=BO2&<F^10.FM+:WM+Y-,J*=TI0NB$,)@+^8L#HNR!
MYCK)HAI=P)ZWLS.-CAC5N87+F9B?*E89:D:`H$NH02J>C74'-]V>W0,(?7;N
M7,W5P$0\/4:F#XAX!.2P&!4^>Y6W>&Z^\!R529R9)2`T\SUYI*`.FKZJ;+^2
MZ5$/K?&EZ&,4AV.R;!-D.4.G10#=?'K@:&L!@,#_TH2[O[TY_$+?:&P./@,"
MU4]L7RB0Y%]J74E4D)9*1NO&B=L^A+,CY@!RVAX)^-AUN)T1$3%:I:ZL4<R2
M/^ZH=@IT\2F``D*8'#D8]C+,'T5)M&[^-DFCAA(,7B*;AH]9.T3MW31TW5*9
M)=NX04,0Y#`)3%$0'P'`AG=@_B))\$^]'W5>,SEFJVK]2UQ!3FN7`H*HMY'5
MMPV+%VW7;EL93J5<6M7GV[-P9,QR$>METO-U3'H$SW`#@4?'(=,$=_[S1#P!
M+<.S4P_82ZS9?^K`RD[6G-"6X!\[-`<E6SN02JU9MS>`VG'1ZYDAG=36_I`7
MR/60Z"D^,SB'@R#5)0/)\^R;GZE,0I@"Y4BY2.FXR/F8=\UDXF68M9*+DF*Z
M;IE(1[Y`CED^9N43'1<-7;94JB:A!$IR&`0$0'`Y^`P.C^2^]Z=Q@X^[EY#7
M]TDUJ&G-=6J_S/JK`@+Q.O13AZUB&QQ`W60G'Y$F;8@`)E'"Y"E`1$`P*5+<
M^V+AOC;FS=U[!?GD[QMB]VK85J>G565!6<MLT\FY`J!ESJ*E:(+O!30()A!-
M$A2!X%`,#?9[5=3R=X+5A>O^NU%O-/I^GI1G2PA\!Z]`2Z_V8%IC@,"M,]X8
M7IW/]2#_`(N$>K1_NW5R*+_HX$4K`8$I/V[/?!D^"NRHGB?R7MCUUP\V=-E:
M5Z>F7SARWXZWF9=G,G/L074.FQUI99-R(3K8GD29.%OS,G02NRN`LS&;QI(-
M&K]@Y0>,7K=%VS=M5DW#9TU<)E60<-UT3'27062.!B'*(E,40$!$!P.3@8H<
MU>&6CN>O'J[\<=^UIO.U"VLSJ14LF@V&Q42V-V[A*"O=-D'"*QHFSP"KDYD5
M2AY54CJ(*@=!95,X5%'<!X"[P[=_*&X\9-O1+A[)1K_YS7=PC6#DD)M>B23Q
M9"K7.K%$5A.6633])RS!159A($6:*"*B0B(6K?:%X;)<$.WGQPX^O8YHPO,?
M3$;IM@[5,`4=[4OYQM-R*[7$I%'BL&\D"Q*2I@`?E(]$H`!2E``V5X'6VY-H
M5C26I-G;CNKY&-J.K*!;MA65\NH":;>$I\"_GY$XF$0ZG%JP,!0#ZQC"```B
M(!@4D^XMG6'=FV]H;DMRHK6G:^PKGLBQJ>H=4#3=WL4C990"**")S)E>21P+
MU\?*`8'7&`P&!__3A+N_O3G\0M]H;`X^`P):OM&>9R6FN:]_XE6J84:5'E?2
M5'E/:JB`M`W)JAG)V.*1\Y^B;(9[7RLZD8_F`7#IHS1`#&,0`"R3P&!CLGQL
MHK/E8IRWBT2Q^Q);1#G0EN,B@42V>LLKU$7JF.7:P'**3JJ/OS=(@^0YETI0
M`,8H-R`8,B<!@4@G)@GI<C^0*?3IZ>[=K$Z?H\E[GB]/\F!TE@6J/MG>;YN7
MW;3H5,M,T,IM;BB^_H)<OF54Q?O*G"M2/M13BB7F,N9JIK]=M$^NIU,Y>PSH
MXB)O,`!(7P&!$*]WMS,_I5P_U9P\J\NJUMW)R\DM%W:MC`/73FIUFTJLQ>]!
M!1O_`##LEY"';FZ]%4HEVF("'7H%<9@2*O:PG\O>*TR7_P`35^^"?MZ:SFE?
M^E/`M/L!@5J7O$2].YYIL?\`%P=U</[>F\N2)?\`1P(HF`P&!/`]LCWPA=)U
M+ML\M+<)G:8DB.*.T;$]#SND>@F1T79Y)R<!.X1$##6'*QA,<@C&";ZC!,0G
M4`/7Q#Q`?$!#Z<!@89<KN`O&3FA8=!VW?%#1L5HXV;9K>W]7S[55-E)LIJN2
M#:4&N2[CT%C2]'GGK%LI(Q:G1%R=JB;J4R8#@9FX#`B_^ZVYG(<>.W>CQ]@)
M9)IL/F';"45-H0#"\3U32%HJT[.DT3E.4J2;ARM#0ZH'`?40F%`*'4HB4*Q?
M`8#`8'__U(2[O[TY_$+?:&P./@,#LO3&VKIH7;NLMVZZDCQ%[U-?*KL.I2!3
M*`1">J,TSG(T')$SIF78KN&0)N$A'RK('.0W4IA#`N<.#_+*A<X^*>D^4NN5
M"$@-LTMA-/8CUBKN:K;&IE(JZTU^</$SZI6QB\8*'Z`57T`5)U3.01#*W`8$
M3OND^XMY&=L#E/9./-]X"URU5A=FWM.I-K!O.>AH?:%"D!\K:9:,3:C=IQ\S
M#O2J,)9B5RX^3?(&\JBB!T%E0UKJ^])V28!!'@'2"=0$/XG(">4Z?]C5:6!"
MZV9=%=D;(V#L1:/3B5K[=[7=%8I%P9TC&*VF>?SBD>DZ.D@=RFR.^%,J@D()
MP+U$H=>F!\1@;8>TKW:=N=I?;.R=BZ[HT#M2O;6HS2GV_7EHG9.OQ#I]#32,
MQ6;2C(1;5\NG+5\%7S9(#)&(9O)+@/0?*(!OP-[T#D`/[G!_3I0_^+:UU./]
MX5P@?Y,#CC[SWD5X^7A-I<.OPZ[.NYNGZ/A!EP(X_<[[C>T>Z#R:<<D-G5N)
MHJK:DUB@U6@5Z7DYFOU.OUTCMRLC'.Y4J3E169GY1Z_7-Z9/XKGR]!`@#@:[
ML#.SMP<[;?VW^5M-Y6T:BUS8UBIL!=8!M5+7(2<9"O4+K69"M.EW#R(_YY-1
MD@_%5,"^!CE`!\,"22/O-^4O^;PVT$'[;KL,?](,#BJ>\UY9#_JN'W'@GZ/4
MM.R%?^[(I8$?WNF=S#9'=4Y"5/D/M#75)UE/U+3]>TZS@*$[G7D.ZAZ[<;]<
MV\LY5L#QZ]"2</+^X1.!3`D"2"8@'F$PB&M;`8#`Y+)Z\C7C21CG;EA(,'*#
MUB^9+JM7C)XU5(NU=M'*!B+-W+9=,ITU"&`Q#``@("&!*/U?[N+N5:ZUO2:#
M*T7C9LZ3IU<BZZZV)L"J[&<W>XC%-B-$YVV.8#9\#$/;`]12*9VX1:-P<+>9
M0Q0,8PB'<5"]VGW5=K7FH:TUQQPXH6R^7VQP]1I]7A->;AD9:?L4^^1C8F+C
MVB6Z!46<.WC@A`^@.O4>@`(X%@OHP-S?T@UX?D.XHKC=Z]6BG6SBZRC):)H#
M*WNVQ',O%5-K.S5@F%(:'<JBU2<.'1U'8(^N)$O4!(@=KX'B8Q2%,<Y@*0A1
M,8QAZ%*4H=3&$1\```#`J3._SW"4.X5W![_:J;+'D='Z3;J:1TN*+M9:+F(.
MK2L@I9;ZT0$2MRFOEJ<N7*2Q2%45BT6)%!$4@Z!I,P&`P&!__]6$N[^].?Q"
MWVAL#CX#`8$Q'VG?<W3TCNR?[?.UYU-IK3D--KVW2;Z16`C:N;T2C6C*2JQ%
ME/!)IM*OQ"";<@F`A9>.033**K\XB%BO@,#4EWCNUEK_`+IW%F4UF\/%UC>-
M"%];N/VS'C<1_EJY`U*5S6YUPW24?*46]-VY&4HF0%!0,"#TB2JS-),P5)NX
M=0;)T#L^\:9V_49>B;*US89"KW"JS;<6[^*EXY44E2?2DZ9N">59LY2,=!TW
M4(LD<Z9RF$.ML!@,!@,!@,!@,!@,!@,!@,!@6&'MB^RDYTA7X?N*<I*FHSV[
M=H-3_P!N&NK%&^D]UK1IMLHDZV?.,7Z(.&5WO,:J!(I/RIGCH54ZAA,J_P#(
MT"9Q@,"-W[E?N<I\&>&4AI/6\Z#/D9RSBK#0*L=@Z*25HVL%6I8[9>POX*Z3
MR.>*1DD$1$+E\JA9!Z+A(1%DH`!5MX#`8#`8'__6A+N_O3G\0M]H;`X^`P&!
M[:!GIJK3D-9JW*R$%8J[*Q\[`S<4Z68RD/,Q+M%_&2D:];F(NT?Q[UN15%4A
M@.FH0#`("&!;)=BONPUGN=<5(A6VS$6UY4:;C(BJ[^JI#MFCJ9>(H`SB-LPL
M:F5$/Y=OZ;85UBH)@C'R@.&@`"9$#*!O`P&!':[Z_8QI/<WH)MP:>1A*+S0U
MY!+-JO8URMXZ"W'7V1!7;:XV*[*F!DG2!P,$),F$QHY14R*X*-5/X`5?VUM3
M;+T9L*U:GW#1['KG9%(EG4':J=:XUQ%34/)-%#)J)+MG!2^J@KY?.BND)T'"
M1BJ)'.F8IA#KW`8#`8#`8#`8#`8#`8#`_2E,<Q2$*8QC"!2E*`F,8QAZ`4I0
M`1,81'P`/C@3</;Y>W<E+G*4CG/SXHSJ,I$<HQM>AN.UMC1;.[J\(/S$+L;;
M$%(H`X;T]J8"NXB%6(FI*J@BY=A\B`-WH3]2$(F0B:92D33*4A"$*!2D(0`*
M4I2E`"E*4H=``/``P/+`Z%Y.\E=1<0M%[%Y$;RL[6J:WUG`.IR;?+&(9X_6(
M7TXROP3,QR*2MCL4B=-FP:)]5'#I8A`Z=1$`I].XKSKVCW%^6&R^3FSE%V);
M-)'B]?4KYU1[':VUC$+KHTVCQAQ`B2AHV//ZKYPFFB#^47<NQ3(9<2@&#F`P
M&`P&!__7A+N_O3G\0M]H;`X^`P&`P,N.#O-3=?`#DC0>2^B9L["TTY[Z$W7W
M+A<E;V%2WYTB6:@7!FB;ROZ_861.G42BJS=IH/&XINFR"I`MU.WYSVT7W&N-
MU0Y%Z,F2J,99(L7=Z2^<(&M6L+XT02/.T>V-$A`R+Y@HH"C9P!00D&2B3I`1
M25+@9N8$4CO^=]B\<*).,XT<'Y.%F>1]:5KNP]^716(CK?7]+4,9N&;P%*F8
MU\@ZBCVS9<C)MF[A)407CXIP02%*X?M5D`S3YE=IK5O>1X=Z/NW*.E1&@.:S
M_2-!L*>SJ!%&6EM97:PU:-L=@UQ/,Y1PG(7?7</9I-T@>+D'7S#4QE3M'*"Y
MSK*!7#]P;M?\O.VIL=2D<CM=NVU8DGKE"A;CJZ;N9U+L=HB*ABJURU%;)),Y
M<$">HO#R!6DNU(('4;@D=)10->>`P&`P&`P&`P&`P&!VII;1VW^1NR*WJ'1.
MM[?M;9=M=@S@:=2H9W-S#PP=#.':R38ADHZ)CT>JSQ\Y.BS9-RF67532(8X!
M8)=I/VZ&GN`-44YK=P]6J[)W5KFLR>S&>O\`TFUBU/H1C6(AS8'TT_\`5(NR
MV)L*!:,SJ@Z%,T9&.4@,R*NLFD]P/OM6\^>YCRY85;N(RO)'BMVT^UDWVRR)
M6JWNEK59+:V[-.5*\KQ5J=R%BM$'8&4-;+DPA9!A'-8]S'JF>E`K5%<@)/7`
M2".)'/7B!SL@+39.)F]ZAN>.H\HVA[@C!I3D-.UMX^*Z-&*S%7MD17[,QC9D
M&#CY%Z=F#)]\LM\NJIZ*GE#)RV6RL4.KV&[76P1%4J%2A9*QVBS6"0;14'7X
M"&9K2$M,S$F]41:1\;&L6YUEEE3%(FF03&$`#`JQ^_CWGIWN<;N2UQJ24F(;
MAKIF:?%UQ"J&>1JFU;60JD>]W!;8I3T#=5FXJMZ^S=)BM&1JRIS`DX>NDRA'
MOP&`P&`P&!__T(2[O[TY_$+?:&P./@,!@,!@;)>V%W.]^=KKD"RW!J-T:P4J
M>-'Q.Y-.RD@LTJNU*BU754*Q>'(FY"'L\/\`,JJQ$NFDHLP7.8IBK-EG+=8+
M2'C]SPJ'<?X3V[>';UO=*6VK+T.<BJQ`;7*X;FU!NAS`KFAZWN:O082\E'A#
M2YR*'.V([:2#<@+M%'+8Y3F"$]W#-.Z][:EAX'<9.1+BX<D^0>_][17/KN26
M:DM#V2_;JGX&P24-J'3-`D)<\2J[JSJ?D[<RZ*$257=N`D3(@)D&B(=@\\N0
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MQ=HH\C3K0W$"#_$CWSD@=!`1`0$`#%O`8#`8#`8#`^SH&N-A;7M,91]7T:W[
M&N<TL5O$5.C5N8M=CDECF*0",H:#9OI!R/F,'7RIB`=?'`E*\`/:;\Q-_+PM
MXYEV)AQ*U:LJBY6IB7Y?<]]S[$#H+&02@F+I6HT%.0:G.0KB4>NI%FL7^+$G
M+\0D6<@+WQ']NKK/3?'_`(.\+9O97)7EE,$H&JY^:>,6#+8-]2DX:$8CNG?5
MB6:KBZ_-K&V7:U]B5JS4`QP)^5H&^8('R,=R\[LW&SDYQ$X]=UB*XD;8T3W+
M)FV:-3INBFD^QMVGK).141&K5Z></&+*/L,`4MO;LWXIKRZ9TU5SIOR^BE\R
M&)'*+M1=DWM+S.M=B<U]D<M]\:XL]NN9>.'%J8E7E[I4=(1J2,[,0;6L5"/K
M3V50*^G6H`=[(L63M=9,KWU_44,8,K.SCHEM3^1O-CNX6?1$+VX.'&S-6U_7
M^D-#69K%ZV*GK&DE@9&P;WV;6$0CZ_2E9$]2269@``"II1^8IE$01>OPCH]^
M[O\`L_W`)><XM\6I&;J?#6OS!4;!8%2N(BP<C9>$?BJSFI5B/IO(;6#5\W3<
MQ42X`KEX=-)Z^325!)FU"+E@,!@,!@,!@?_1A+N_O3G\0M]H;`X^`P&`P&`P
M,Q^$'/7DWV\]S,-W<8[^O4["5--A9ZU))*2]!V)7RJ"HK6;]53.&[:<B5!,8
M4E"G0?,E1]9FX;K@54H61W;$[NO`_N[J4.0M%+UKK;GEJF%DSP5+V'!UB<N-
M<?RK`$;':N.=QGV1Y*:K[L&15G;9F=&3:)$*5XB9(".%0Q7WOPSY*]LOC?OV
M_<<B;,YI=TKN1[T)J"R<OOY+<-T=1U79UM7C(&:5;1#ITQU#5JM`NFR+98JH
M1;.P*MES^6-C6C-(,>=J<)_Z6[A[;GM\=6[1N6K=)[>U?L3E5SMVG2)0E=V/
MR4L#!&P$EX)K9EFSYRW8RDK0'C<T>8JZ)(E5@"Y5@8!Z@9,\R.PGKKB'J`>4
MO9HJ>W=-<X-#O*U:*9!5#<%QM<7NN(8V")_G.HW>M[3LEABK"E(5OYIP$8W5
M9-))1+Y51LN"I4L#/5;GHVWSS:X[]M+9?%*H[`+MKA7&<HN4+'8Z;5Y':0D)
M5BE\C1YG75EKMA8V!XE8?38N6SQ1JLU/(ME`.;RG(8,,>6G8D["^R>0='T#,
M1+OB]R9WI"6:X:^I.B=B2]0D;E$5A)=>>?UVBVJ*ONKHEO%H-%U?EVD8Q%5-
MNN<A#E15$@:S=V^S!(:1>/>./-TS:),"IHZM;LU<#Z22\1])%Y=:+/1S5UX?
MO*$@$?U$^C`UMW;VBW=*KCM9.KV+B_L-D4Q@0=0NT;-!N%B`80(*C.V:^A"(
M*&+XB'K'*'^(?C@=2*^U8[PB:GD)JK4:Y>O0%DMZ4,J0_KZ+O$5@#_Z,#ZZN
M^TS[M4TNDE)Q7'>HI'$H'<S^Y@=)HE$>@F.2KU>Q+&\GQ$"E$1^C`SJU+[,C
MD%*BQ7WAS-U%24A43-(QVL=?6_8SD$>H>JFTD[/(:S0(MY?W3&;'+U^@<#:-
MHWVPO9FU=MB'TYM?;^Q>1.^AIQ]@N],77=M;I,C(5!B\;Q;JX-=;ZHCZ;L9A
M4@E72:0+K2SE$51\GJFZ&#`V9]OO</`.O;IY7\9>"O%BO:KUYPP;$JV\M[U&
MGU*NU&<V*U7=BIKZ)GV3B0O>RY:$;1,HI)2,DH4&R[("%%<%TE1#5[PWTGRA
M[]-?O_-SDCS8Y2\:>,TML^^4OBAQVX>[!9Z8&.I-*FU(;^=-BV3\ELQ[=.O7
MR2S8X.VYW'SC595)9!F=NS3#IG97&+=ETY%;.["G,+?UJY'4C9&AWW*_MI<K
M-B"B]Y`Z<V5KY[-%AX6\WAJF>0L+)F$),LY-=8BCIQ&$$&AVA722+,.@^`/`
M[:'<_D]X[%Y(<^^5FLN\5P.W(G1(7\[4J3^B:,8UQJ#"BS4'K0\"R"<K%V<Q
M#\K]VQ?Q?SCIL*RR*Y516?A)-G^5`]MKAM`[+[P/)/1VR=L5U=^2%G]:ZR)4
M[#?Y5!ND#&O42C.)59:XWE<`]1T^BXVO1J"2H&6;M4$3N3A7R=W;ON\F.Z%/
M2%!:*.=,<2HF;^=J6DH%Z;\PL_R1B_EUBW#86ZA36^<(H45D&*8(P\<82>D@
MJX3,\5#15@,!@,!@,!@,#__2A+N_O3G\0M]H;`X^`P&`P&`P&![6"G9RKS43
M9*S,RM=L4#(LY>#GH*0=Q,U#2T>N1TPDXJ48+-WT?(,G*15$5D3D43.4#%$!
M`!P)BW:Y]V!M73K>LZ;[B</-[NUXS(RAHSD%5V[=?<=:8IE;,FZ^P(91=FQV
M<R9HD\Z\@F=O/'*!U%?S%<P`(2-N5FB=$]Z>D:"YC]MWF;3J?RHXLS,A8=%[
MOJ2WYHA"EM!$!FM;[KHCEFG<:]'301@"5M*QH.&Z9W)#LG#9XX24#M[A=K?O
MI,M[1EJYX\C>&;S04!79&)D];:,UW/OK'?9CY8R<;9CV2;KM0=5!X1T)5UC)
MN7+,Z9#(A&D$X+)!HBX@<>NX3W!>3G/7N\<">7M5XZV&W<D+=H'5%?VE06EY
MIFV]':MC:JRBR3<FZC;,>O0?R\?%%0!K$.C'>(.!!1$R0&.&179[<\G^:W=C
MY<<Q^<:FK9.[]O\`UB/".!G=1C)--0M]B)V:S'O\Y5%9QRX<K.VT6PEAD%^J
M*)?SP/*DFGZ1"!K`[G7+;D9S;W+LCNC:#NC^-X0=JWD)IG6VH6\+*OHM[MB=
ME=BUW^IFS(ULD=J=>%DIMK$-%%71`24BGD>F4HF^<`H2(O<.<K=G:8[;>M-N
M<:=WV33,WM#D%HF#A]K4N:4@G[>CW>#M-A<NAD"*(@$0[BV*2ZQ3F*0R9/K"
M`>.!T+PEJ6T&_)G3!XKW,>M>9582MA'$OQL\NDY&U;:C&T>^<.:O&.XW<-MM
M'S1TT_F#F:M#K%20,/0``1`,N.QOR1WEOQMW(Z]OK9=CV98-&=Q[>^J:>[LJ
MK51Q6=<P",#'UJIQI&C9JDA$1B\<Z.D3RB;SJG$1$1$<#>W@0_O<?36\N$O*
M?A3W*N+D>JMMBP:^W-PAEUQ9"\:?/7VMV)]I]0&Q"F*[FHR>ND[)L4U0%)9[
M%-B'ZI^8HAY=G'D["]JPJ/:>[D>G6O%C;E[N5MO-"Y#SDP6PZ8Y6R]^>(`\6
MF]EG4=03&VIL/E8M)1PX39G1;(M'7R<@9-!T'WVJ-+=W?LPV/:NE>%W%FF]P
MO@A?-B6/:.E(S^K-=UMLW1CNZ+@O(4:4_F2207DX1%5N0X&9LGS)8P"[^8:+
MNEVX!DSP5XH\J3<LMK]X+NV2.J=&[.;ZF/J+3>E(Z[P3VB<9=0$?F>S4I:;^
M:=D:HE-R@'7\RB4FZ3Z2CU5=1(RR;5L&OWN.>Z,XG\;I#9%-[;M"I>\-ZW.0
M3<7S?RM9_E_4`V2,BD:LVF7KUJA"6O=]BA(>&:-&SGS)1'R2*!47[E%,$0""
M+R:Y5\A.8^U)K=')7:EIVOL*:.J`RMB>B9C"QYW"KE*`JD"V*A!U*M,E5C"A
M'1S=LT1\PB5/J(B(8]X#`8#`8#`8#`8'_].$N[^].?Q"WVAL#CX#`8#`8#`8
M#`8';>E=][KXX7J-V9H3:EZU#?8DW5E::#9)*N2@)#U]1H[4CUTDY&.<%$2J
MM7)56ZQ!$IR&`1#`E<\*O=]\FM9-8BG<U]-UKDA76Y&3%;9=`<LM7[51:D$"
M.Y.9@TX][KZZ/_1#ZB+=&N`<W43K"(]<"2]Q.]P7V:]PQ3"H4;>->XQS$^]>
MNOY$VW1#Z7;,)J=<+.I"0=6A!B^U`61?2"YEEEOSM055C>901$WB'BP[7<#%
M=MKD=Q+[;G+:,;/^6.R[G?MC\E;O,0^W)RPQNSU&#3844E8M:&@8\S^<JD8G
M$)ODTA,FU6<*>7YA0%B!B?R*]JYP+<\6;C!<>ZUM""Y(U_2<G'4RPMMN3B$)
MM/;<%5A/7GVP*]:7DG4VC.UV]DDH[39!%M&WK")/2(F40#K[N#<2N>>\>RMV
MT]&S'$NS[/Y`:*W!H53D!HF*M%#>OWE'T11]DZ_>'>V-I8I.KO&EZC$(U3U&
MCAZ)`DP$R0B10A0[#X&T/6C/E[I5VI[;ZX<)+*VFIMQ%\ETK%6YVM:I>(5"P
MJ?FC]2#A8<H)RZ931B0^7Q5>D\,#K7CK)]T7MU<O>Z"UTOVJ]A\KM8\F^9=V
MW=KR\DWE0=)UUO%S,I8G9G#0UGA+$I-MY=&8;B50!:>B+<Q1`PFZE"4CH&Y[
M/V)IG75WW3J931.U;+6F<G>]0*VV(O9]?6!85`>5T;A`IHQ%B!KY`$'*!"$.
M!@^J`]0P,3.Z1P+J/<=XBVGC?;-BJ:@%:V4:_5_:2,(WL*U'FZ/86LHK*)1+
MJ<K2+@SZOF?L/,+YOZ`//5ZF]/TS!AYS\YR]D=AK"OZ;[A>]^-_(-2JEA)<]
M23C3[EMBEP@&R*)I\E<U,TMTI2969<)J>HFJJS1407.@J8[<QP$-&W*#W>NI
M=:51MJ?MR\5EW<15X!C6*=>=W'2I])K,=#-4XV+9U[4%,>/)B6A63!!,C4',
MY#'3*0"F;B'A@1)N9_<RYN<_I]26Y/[YMMWA4WRS^&US'KDK&K*T=02^F6#U
M_`E95Y)9ND0I"NW"3A^<I0]1=0W4PA@=@,!@,!@,!@,!@,!@?__4A+N_O3G\
M0M]H;`X^`P&`P&`P&`P&`P&`P.R=:[EV_IB7-/Z?VKLC5,X?R>>8UO>+/1Y1
M0$Q`Q`4?5F4C'*A2B'@!C"&!L_U7W_.\#I]BVC*OSAV7-,&Q2$(CLV%U]N!P
M8A/@126VG3K?-F#IX=?F0']>!G%2/=H=V:K(HI6!]QSV29,`!1S<--GC7*XA
M\3*?T^M=':E$P?X$B!^K`[F2]XQW)")@131/"I8_3IZIJ'NTAA']/E3W\4G7
M^SI@?$6CW>7=*G45$H6H<3J4<Y3%*Y@M5W>1<)"8.@'3"U;6L#43$'Q#SI&#
MK\0'`PZO_N3N\ML!-VU4Y<JT^/>`8HLJ!J/2M74;D,`E\K.;;Z^7L[8P`/@<
MK[U`'Q\V!K!W)S-Y=<ARNDMZ\G-];<9O5?6<16P-L7>SP8G`1$OI0,K-N(9N
M0@C]4J:!"E^@`P,:<!@,!@,!@,!@,!@,!@,!@?_5A+N_O3G\0M]H;`X^`P&`
MP&`P&`P&`P&`P&`P&`P&`P&`P&`P&`P&`P&`P&`P&`P&!__6A+N_O3G\0M]H
J;`X^`P&`P&`P&`P&`P&`P&`P&`P&`P&`P&`P&`P&`P&`P&`P&`P&!__9
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
