<SEC-DOCUMENT>0001206774-14-001184.txt : 20140409
<SEC-HEADER>0001206774-14-001184.hdr.sgml : 20140409
<ACCEPTANCE-DATETIME>20140409172659
ACCESSION NUMBER:		0001206774-14-001184
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20140403
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140409
DATE AS OF CHANGE:		20140409

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PHOTRONICS INC
		CENTRAL INDEX KEY:			0000810136
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				060854886
		STATE OF INCORPORATION:			CT
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-15451
		FILM NUMBER:		14754165

	BUSINESS ADDRESS:	
		STREET 1:		15 SECOR ROAD
		STREET 2:		PO BOX 5226
		CITY:			BROOKFIELD
		STATE:			CT
		ZIP:			06804
		BUSINESS PHONE:		2037759000

	MAIL ADDRESS:	
		STREET 1:		15 SECOR ROAD
		STREET 2:		P O BOX 5226
		CITY:			BROOKFIELD
		STATE:			CT
		ZIP:			06804

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PHOTRONIC LABS INC
		DATE OF NAME CHANGE:	19900514
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>photronics_8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>

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<P align=center><B><FONT face="Times New Roman" size=2>UNITED STATES
<BR></FONT></B><B><FONT face="Times New Roman" size=2>SECURITIES AND EXCHANGE
COMMISSION<BR>Washington, D.C. 20549
<BR>____________________________</FONT></B><FONT face="Times New Roman">
</FONT></P>
<P align=center><B><FONT face="Times New Roman" size=4>FORM 8-K</FONT></B><FONT face="Times New Roman"> </FONT></P>
<P align=center><FONT face="Times New Roman" size=2><STRONG>CURRENT REPORT
</STRONG></FONT></P>
<P align=center><IMG src="photronics_8kx1x1.jpg" border=0></P>
<P align=center><B><FONT face="Times New Roman" size=2>Pursuant To Section 13 Or
15(d) Of The Securities Exchange Act Of 1934</FONT></B>&nbsp;</P>
<DIV align=center>
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  <TR vAlign=bottom>
    <TD style="TEXT-ALIGN: center" noWrap width="69%"><FONT face="Times New Roman" size=2>Date of report (Date of earliest event
      reported)&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="30%"><B><FONT face="Times New Roman" size=2>&nbsp;&nbsp;April 3,
    2014&nbsp;&nbsp;</FONT></B></TD></TR></TABLE>&nbsp;</DIV><BR>
<DIV align=center>
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  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" align=center width="100%"><B><FONT face="Times New Roman" size=2>PHOTRONICS,
      INC.</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="TEXT-ALIGN: center" noWrap width="100%"><FONT face="Times New Roman" size=2>(Exact name of registrant as specified in
      its charter)</FONT></TD></TR></TABLE></DIV><BR>
<DIV align=center>
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  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="33%"><B><FONT face="Times New Roman" size=2>Connecticut</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap align=left width="1%">&nbsp; &nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="32%"><B><FONT face="Times New Roman" size=2>0-15451</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="33%"><B><FONT face="Times New Roman" size=2>06-0854886</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="TEXT-ALIGN: center" noWrap width="33%"><FONT face="Times New Roman" size=2>(State or other jurisdiction</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="32%"><FONT face="Times New Roman" size=2>(Commission</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="33%"><FONT face="Times New Roman" size=2>(IRS
      Employer</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="TEXT-ALIGN: center" noWrap width="33%"><FONT face="Times New Roman" size=2>of
      incorporation)</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="32%"><FONT face="Times New Roman" size=2>File
      Number)</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="33%"><FONT face="Times New Roman" size=2>Identification Number)</FONT></TD></TR></TABLE></DIV><BR>
<DIV align=center>
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  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="75%"><B><FONT face="Times New Roman" size=2>15 Secor Road, Brookfield, CT</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="24%"><B><FONT face="Times New Roman" size=2>06804</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="TEXT-ALIGN: center" noWrap width="75%"><FONT face="Times New Roman" size=2>(Address of Principal Executive Offices)</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="24%"><FONT face="Times New Roman" size=2>(Zip
      Code)</FONT></TD></TR></TABLE></DIV><BR>
<DIV align=center>
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  <TR vAlign=bottom>
    <TD noWrap align=left width="50%"><FONT face="Times New Roman" size=2>Registrant's Telephone Number, including area code&nbsp; </FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="50%"><STRONG><FONT face="Times New Roman" size=2>&nbsp; (203)
      775-9000&nbsp; </FONT></STRONG></TD></TR></TABLE></DIV><BR>
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  <TR>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="100%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="TEXT-ALIGN: center" noWrap width="100%"><FONT face="Times New Roman" size=2>(Former name or former address, if changed
      since last report)</FONT></TD></TR></TABLE></DIV>
<P align=justify><FONT face="Times New Roman" size=2>Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the filing
obligation of the registrant under any of the following provisions: </FONT></P>
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  <TR vAlign=bottom>
    <TD style="WIDTH: 1%; TEXT-ALIGN: left" noWrap><FONT face=Wingdings size=2>&#168;</FONT></TD>
    <TD style="WIDTH: 1%; TEXT-ALIGN: left" noWrap><FONT face="Times New Roman" size=2>&nbsp; </FONT></TD>
    <TD style="WIDTH: 98%; TEXT-ALIGN: left" noWrap><FONT face="Times New Roman" size=2>Written communications pursuant to Rule 425
      under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="TEXT-ALIGN: left" noWrap><FONT face=Wingdings size=2>&#168;</FONT></TD>
    <TD style="TEXT-ALIGN: left" noWrap></TD>
    <TD style="TEXT-ALIGN: left" noWrap><FONT face="Times New Roman" size=2>Soliciting material pursuant to Rule 14a-12 under the Exchange Act
      (17 CFR 240.14a-12)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="TEXT-ALIGN: left" noWrap><FONT face=Wingdings size=2>&#168;</FONT></TD>
    <TD style="TEXT-ALIGN: left" noWrap></TD>
    <TD style="TEXT-ALIGN: left" noWrap><FONT face="Times New Roman" size=2>Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="TEXT-ALIGN: left" noWrap><FONT face=Wingdings size=2>&#168;</FONT></TD>
    <TD style="TEXT-ALIGN: left" noWrap></TD>
    <TD style="TEXT-ALIGN: left" noWrap><FONT face="Times New Roman" size=2>Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR></TABLE>
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    <TD style="WIDTH: 1%; BORDER-BOTTOM: #ff0000 1pt solid; TEXT-ALIGN: left" noWrap></TD>
    <TD style="WIDTH: 1%; BORDER-BOTTOM: #ff0000 1pt solid; TEXT-ALIGN: left" noWrap></TD>
    <TD style="WIDTH: 98%; BORDER-BOTTOM: #ff0000 1pt solid; TEXT-ALIGN: left" noWrap>&nbsp;</TD></TR></TABLE>&nbsp;
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT face="Times New Roman" size=2>ITEM 8.01 Other Events. </FONT></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>On April 3, 2014,
Photronics, Inc. issued a press release announcing the successful closing of the
previously announced joint venture with Dai Nippon Printing Co., Ltd. (DNP). The
joint venture, Photronics DNP Mask Corporation (PDMC), will focus on serving
semiconductor manufacturers in Taiwan. The closing followed regulatory approvals
received from Taiwan authorities on March 28, 2014. The joint venture was
effective as 12:00 a.m., Taiwan time, April 4, 2014. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The non-cash transaction merged DNP Photomask Technology Taiwan Co., Ltd.
(DPTT), a wholly owned subsidiary of DNP, into Photronics Semiconductor Mask
Corporation (PSMC), a wholly owned subsidiary of Photronics. Photronics and DNP
own 50.01% and 49.99%, respectively, and the financial statements will be
included in the consolidated financial statements of Photronics. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>A copy of the press release is attached to this 8-K and is incorporated
herein by reference. </FONT></P>
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  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="3%"><B><FONT face="Times New Roman" size=2>ITEM 9.01</FONT></B></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="10%"><B><FONT face="Times New Roman" size=2>Financial Statements and
    Exhibits</FONT></B></TD>
    <TD noWrap align=left width="85%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%"><FONT face="Times New Roman" size=2>(d)</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="95%" colSpan=2><FONT face="Times New Roman" size=2>Exhibits</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="95%" colSpan=2><FONT face="Times New Roman" size=2>99.1 Press release dated
      April 3, 2014.</FONT></TD></TR></TABLE><BR>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=center><B><FONT face="Times New Roman" size=2>SIGNATURES</FONT></B><FONT face="Times New Roman"> </FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>Pursuant to the
requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized. </FONT></P>
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    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="100%">
      <P align=justify><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      <STRONG>PHOTRONICS,
      INC.</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </FONT></P></TD></TR>
  <TR vAlign=bottom>
    <TD style="TEXT-ALIGN: center" noWrap width="100%">
      <P align=center><FONT face="Times New Roman" size=2>(Registrant)</FONT></P></TD></TR></TABLE></DIV><BR>
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  <TR vAlign=bottom>
    <TD noWrap align=left width="3%"><FONT face="Times New Roman" size=2><STRONG>DATE:&nbsp; </STRONG></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="22%" ><FONT size=2><STRONG>April 9, 2014</STRONG></FONT></TD>
    <TD noWrap align=left width="25%" >&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"><STRONG><FONT face="Times New Roman" size=2>BY&nbsp;</FONT></STRONG></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="49%"><B><FONT face="Times New Roman" size=2>/s/
      </FONT></B><B><I><FONT face="Times New Roman" size=2>Richelle E.
      Burr</FONT></I></B></TD></TR>
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    <TD noWrap align=left width="50%" colSpan=3></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Richelle E. Burr</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="50%" colSpan=3></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Vice
      President, General Counsel</FONT></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #ff0000 1pt solid" noWrap align=left width="50%" colSpan=3>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #ff0000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #ff0000 1pt solid" noWrap align=left width="49%"></TD></TR>
  <TR>
    <TD noWrap align=left width="50%" colSpan=3>
      <P align=justify><FONT face="Times New Roman" size=2>PHOTRONICS, INC.
      </FONT></P></TD>
    <TD noWrap align=left width="1%"></TD></TR></TABLE><BR>
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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99-1.htm
<DESCRIPTION>PRESS RELEASE DATED APRIL 3, 2014
<TEXT>

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    <TD style="PADDING-BOTTOM: 2pt; BORDER-BOTTOM: #000000 1pt solid" noWrap vAlign=Top align=left width="9%"><IMG src="photronics_logo.jpg" border=0><BR><STRONG><EM><FONT size=5>Press
Release</FONT></EM></STRONG></TD>
    <TD style="PADDING-BOTTOM: 2pt; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="90%"><BR><FONT face="Times New Roman" size=2><STRONG><FONT style="FONT-VARIANT: small-caps">For Further Information:</FONT><FONT face="Times New Roman" size=2><BR></FONT></STRONG>Pete Broadbent<BR>Vice
      President, Investor Relations<BR>&amp; Marketing<BR>(203)
      775-9000<BR>pbroadbent@photronics.com</FONT></TD></TR></TABLE><BR>
<P align=center><B><FONT style="FONT-VARIANT: small-caps" face="Times New Roman" size=5>Photronics Announces Closing of Joint Venture in Taiwan with<BR>Dai
Nippon Printing</FONT></B></P>
<P align=center><I><FONT face="Times New Roman" size=4>Creates Largest Domestic Supplier of
Leading Edge Photomasks in Taiwan </FONT></I></P>
<P align=justify><FONT face="Times New Roman" size=2>BROOKFIELD, Connecticut April 3, 2014 &#151;
</FONT><FONT face="Times New Roman" size=2>Photronics, Inc.</FONT><FONT face="Times New Roman" size=2>
(NASDAQ:PLAB), a worldwide leader in supplying innovative imaging technology
solutions for the global electronics industry, today announced the successful
closing of the previously announced joint venture with Dai Nippon Printing Co.,
Ltd. (DNP) (7912:Tokyo Stock Exchange). The joint venture, Photronics DNP Mask
Corporation (PDMC), will focus on serving semiconductor manufacturers in Taiwan.
The closing followed regulatory approvals received from Taiwan authorities on
March 28, 2014. The joint venture was effective at 12:00 a.m., Taiwan time,
April 4, 2014.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The non-cash transaction merged DNP
Photomask Technology Taiwan Co., Ltd. (DPTT), a wholly owned subsidiary of DNP,
into Photronics Semiconductor Mask Corporation (PSMC), a wholly owned subsidiary
of Photronics. Photronics and DNP own 50.01% and 49.99% of the joint venture,
respectively, and the financial statements will be included in the consolidated
financial statements of Photronics.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Governance of PDMC will be shared by
Photronics and DNP through a seven member board of directors with four
Photronics members and three DNP members. Dr. Peter Kirlin, Photronics&#146;
President, will be named Chairman of the Board of PDMC,</FONT><FONT face="Times New Roman">
</FONT><FONT face="Times New Roman" size=2>Mr. Hideyuki Tanaka from DNP will be named Vice
Chairman and Vice General Manager, and Dr. Frank Lee, PSMC President, was named
General Manager. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Constantine (&#147;Deno&#148;) Macricostas,
Photronics' Chairman and Chief Executive Officer, commented, &#147;This is a very
exciting day for our customers, partners and employees. Photronics DNP Mask
Corporation provides a combination of high-end technology and manufacturing
capacity, with scale and efficiency to offer superior long-term, strategic
capabilities for our customers in the region. Our high-end technology, strong
financial foundation and efficient operating model offer a powerful and
sustainable solution for semiconductor manufacturers in Taiwan.&#148; </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Koichi Takanami, Executive Vice
President, Dai Nippon Printing Co., Ltd. stated, &#147;Taiwan is an important
photomask market. Photronics DNP Mask Corporation will bring to that market a
combination of DNP's logic photomask technologies, Photronics, Inc.'s memory
photomask technologies, and economies of scale. We will continue to work hard at
customer satisfaction by maximizing both companies' strengths in order to
provide enhanced products and services.&#148;</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>1</FONT></P>
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<P align=center><FONT face="Times New Roman" size=2># # #</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>About Photronics</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=1>Photronics is a leading worldwide
manufacturer of photomasks. Photomasks are high precision quartz plates that
contain microscopic images of electronic circuits. A key element in the
manufacture of semiconductors and flat panel displays, photomasks are used to
transfer circuit patterns onto semiconductor wafers and flat panel substrates
during the fabrication of integrated circuits, a variety of flat panel displays
and, to a lesser extent, other types of electrical and optical components. They
are produced in accordance with product designs provided by customers at
strategically located manufacturing facilities in Asia, Europe, and North
America. Additional information on the Company can be accessed at
www.photronics.com</FONT></P>
<P align=justify><FONT face="Times New Roman" size=1>The Private Securities Litigation
Reform Act of 1995 provides a &#147;safe harbor&#148; for forward-looking statements made
by or on behalf of Photronics, Inc. and its subsidiaries (the Company). The
forward-looking statements contained in this press release and other parts of
Photronics&#146; web site involve risks and uncertainties that may affect the
Company&#146;s operations, markets, products, services, prices, and other factors.
These risks and uncertainties include, but are not limited to, economic,
competitive, legal, governmental, and technological factors as well as decisions
we may make in the future regarding our business, capital structure and other
matters. These forward-looking statements generally can be identified by phrases
such as &#147;believes&#148;, &#147;expects&#148;, &#147;anticipates&#148;, &#147;plans&#148;, &#147;projects&#148;, and similar
expressions. Accordingly, there is no assurance that the Company&#146;s expectations
will be realized. For a fuller discussion of the factors that may affect the
Company's operations, see "Forward Looking Statements" in the Company's
Quarterly and Annual Reports to the Securities and Exchange Commission on Forms
10-Q and 10-K. The Company assumes no obligation to provide revisions to any
forward-looking statements.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>About Dai Nippon Printing
</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=1>DNP [Dai Nippon Printing Co., Ltd.] is
a world-class comprehensive printing company with 1.446 trillion yen in annual
revenues and approximately 40,000 employees. Based in Tokyo, Japan, DNP offers a
broad range of products and services for publishing, commercial printing, smart
cards, networking, and electronics components, among others. Its products in the
electronics field include color filters and other components for LCDs,
photomasks, and semiconductor-related components. In the photomask market DNP is
a world leader, utilizing its time-honored printing techniques and know-how in
the fabrication of cutting- edge photomasks.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=1>05-2014</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>2</FONT></P>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
