<SEC-DOCUMENT>0001193125-23-258395.txt : 20240110
<SEC-HEADER>0001193125-23-258395.hdr.sgml : 20240110
<ACCEPTANCE-DATETIME>20231018144125
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-23-258395
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20231018

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GLADSTONE CAPITAL CORP
		CENTRAL INDEX KEY:			0001143513
		ORGANIZATION NAME:           	
		IRS NUMBER:				542040781
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		1521 WESTBRANCH DRIVE
		STREET 2:		SUITE 100
		CITY:			MCLEAN
		STATE:			VA
		ZIP:			22102
		BUSINESS PHONE:		703-287-5800

	MAIL ADDRESS:	
		STREET 1:		1521 WESTBRANCH DRIVE
		STREET 2:		SUITE 100
		CITY:			MCLEAN
		STATE:			VA
		ZIP:			22102
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML><HEAD>
<TITLE>CORRESP</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE" STYLE="line-height:Normal">

 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g331805g1018224221744.jpg" ALT="LOGO">
 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="35%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">1301 Pennsylvania Avenue, N.W.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">Washington, D.C. 20004</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center">William J. Tuttle</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">United States</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center">To Call Writer Directly:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">Facsimile:</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center">+1 202 389 3350</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">+1 202 389 5000</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">+1 202 389 5200</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center">william.tuttle@kirkland.com</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">www.kirkland.com</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">October&nbsp;18, 2023 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">By EDGAR </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United States Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Investment Management </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attn: Kimberly Browning </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">Re: &#8194;&#8201;Gladstone Capital Corporation </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:14%; font-size:10pt; font-family:Times New Roman">&#8201;&#8194;Preliminary ProxyStatement on Schedule 14A </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Ladies and Gentlemen: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On behalf of Gladstone Capital
Corporation, a Maryland corporation (the &#147;<U>Company</U>&#148;), we hereby respond to the comments raised by the staff (the &#147;<U>Staff</U>&#148;) of the Securities and Exchange Commission (the &#147;<U>Commission</U>&#148;) regarding
(1)&nbsp;the Company&#146;s Preliminary Proxy Statement on Schedule 14A, filed on August&nbsp;31, 2023 (File <FONT STYLE="white-space:nowrap">No.&nbsp;814-00237</FONT> and Accession
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">No.&nbsp;0001193125-23-226374),</FONT></FONT> (2) the Company&#146;s response letter filed on September&nbsp;20, 2023 (Accession <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">No.&nbsp;0001193125-23-238530),</FONT></FONT> (3) the Company&#146;s response letter filed on October&nbsp;10, 2023 (Accession
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">No.&nbsp;0001193125-23-253150)</FONT></FONT> and (4)&nbsp;the Company&#146;s response letter filed on October&nbsp;16, 2023 (Accession <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">No.&nbsp;0001193125-23-256814)</FONT></FONT> in a telephone call on October&nbsp;18, 2023 between Kimberly Browning of the Staff and Erin M. Lett of Kirkland&nbsp;&amp; Ellis LLP, outside counsel to the Company. For your
convenience, a transcription of the Staff&#146;s comments is Statement on Schedule 14A included in this letter, with each comment followed by the Company&#146;s response. Except as provided in this letter, terms used in this letter have the meanings
given to them in the Preliminary Proxy Statement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Austin&#8195;Bay&nbsp;Area&#8195;Beijing&#8195;Boston&#8195;Brussels&#8195;Chicago&#8195;Dallas&#8195;Hong&nbsp;
Kong&#8195;Houston&#8195;London&#8195;Los&nbsp;Angeles&#8195;Miami&#8195;Munich&#8195;New&nbsp;York&#8195;Paris&#8195;Salt&nbsp;Lake&nbsp;City&#8195;Shanghai </P>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g331805g1018224222068.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United States Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">October&nbsp;18, 2023 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page 2 </P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>1. &#8195;It seems to the Staff that upon the change of control of the Adviser on the Effective Date, the
New Advisory Agreement must terminate upon its assignment pursuant to Section&nbsp;15(a)(4) of the 1940 Act, which would necessitate a third advisory agreement between the Company and the Adviser. Can you please explain whether the New Advisory
Agreement will need to terminate upon its assignment on the Effective Date pursuant to Section&nbsp;15(a)(4) of the 1940 Act? </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Response:</B> As
noted in response to comment 12(d) in our letter dated September&nbsp;20, 2023, the Company has previously agreed to revise the disclosure to state that entry into the New Advisory Agreement will not take place until the Effective Date. As a result,
the Current Advisory Agreement will remain in effect through the occurrence of the change of control (i.e., the Effective Date), at which point the Current Advisory Agreement will terminate upon its assignment pursuant to Section&nbsp;15(a)(4) of
the 1940 Act and the Company and the Adviser will immediately thereafter execute the New Advisory Agreement. The Company respectfully submits that the New Advisory Agreement will not need to terminate on the Effective Date because it will not have
been executed at any point prior to such date and, therefore, a third investment advisory agreement between the Company and the Adviser will not be required. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">* * * * * * * </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If you have any questions, please
feel free to contact the undersigned by telephone at 202.389.3350 (or by email at william.tuttle@kirkland.com) or Erin M. Lett by telephone at 202.389.3353 (or by email at erin.lett@kirkland.com). Thank you for your cooperation and attention to this
matter. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="99%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Sincerely,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ William J. Tuttle</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">William J. Tuttle</TD></TR>
</TABLE></DIV> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">cc:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">David Gladstone, Gladstone Capital Corporation </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#8195;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Michael LiCalsi, Gladstone Capital Corporation </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#8195;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Nicole Schaltenbrand, Gladstone Capital Corporation </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#8195;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Erin M. Lett, Kirkland&nbsp;&amp; Ellis LLP </P></TD></TR></TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g331805g1018224221744.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g331805g1018224221744.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  A /,# 2(  A$! Q$!_\0
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M $'Q=X:_=:]81LS*HP+F,,<J?4XK4\-^++7QAX^&HP QS+HLD=Q >L4@/(-
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M[PVR[5>3&YN<Y.._-8K^ ;,^)M1UV'4+R"XU" P3QH5V%<8SC'7WS6!/XO\
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2BBB@ HHHH **** "BBB@#__9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>g331805g1018224222068.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g331805g1018224222068.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  0 ,8# 2(  A$! Q$!_\0
M'P   04! 0$! 0$           $" P0%!@<("0H+_\0 M1   @$# P($ P4%
M! 0   %] 0(#  01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T? D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0 'P$  P$! 0$!
M 0$! 0        $" P0%!@<("0H+_\0 M1$  @$"! 0#! <%! 0  0)W  $"
M Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O 58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H # ,!  (1 Q$ /P#M_B'XEN/#
M?BWPS.;ZZATT^>]W#",B557(!&,GFK7AZXU?4O".K>)[O4Y0VI0/-9VT,@9+
M.,*=H4_W^,D^M:'B3PK>ZUXP\.ZM#-:K::8\AGCE#%I PQ@<8Z>M4=-\$:GX
M??6K#2+VV_L'4(I&@M)PV;69@0=I'\!]* ./D\0:S/X"^'MS+K=]#+J=^(;V
MXB<!Y$);/..P'%=/X#U+5-3UK6Q;:G=:EX650ME?70'F&7HX1L LH/<CK4,7
MP[U:+P[X+TT7EB7T"]6YG8[\2@,>%X]#WK:LO"5]H'BJ[O\ 0KFWCTG4 7NM
M/FW!4F_YZ1XZ9[B@#@/"'BS6O%6CZ-X:BUFYBU2YDFN;W4'8"18$E*A(\CYF
M. ..@S7;WNHW\/QBT;24OIQ82:5++)!N&UW5L!CQUK'L?A5=0>"M.L&U"&#7
M]*N9+BQU&W#84LY;:P."5.<$5HZEX8\6W'BS2O$EK<:,+RTL&M)HY?-V.S')
M*X&0* .F\6Z]%X9\+W^JRD PQGRP3C<YX4?F17$_#;Q+??\ "0:AX9UC78M8
MN/(CO+:YCD5QAAAX\KW5OTK9E\->(]=U#2F\27.E2V%I<-<2VMLCXD8#$8.[
M[P!Y.:D\0^"GGUK0]9\.I8V%[IUP3)E"BS0L,,AVCO0!Q>C^-=?\/:WJ.I:[
M<R7OA:;59[(S$9:P96^4G ^X<X]L?G9\:^(M5M8O'<^GZO<1I9V=A-9F)P5C
M+L0Q7C^( 5VOASPHUAI&LZ=JXM;N#4;Z>X,: E3')CY6SWKBO^%0:A9Z+XKT
M>QU2*2TU5+>.R:Z+%K=(W+%&QU S@4 ;&J:3X@T7PL?$&D>*-1GNK:V%S);7
M[++#,H7<RG@%>,X(-=GX<UA?$'AO3M72(Q+>6Z3;"<[<C.*Y2\\,>,->TA-$
MU35-,LM,:-8KAM/1VFE08^4%\!<XY/-=K86-MIFGV]A9QB*VMXQ'$@_A4# %
M 'C?CKQ9JEEX]NK&VU>9$'V9+:>&7;;6#EOG%QP0=PZ G\J]KC;=$C;U?*@[
MEZ'W%><#P3X@TJ]U^WTW^Q[_ $G6YFFE345??$S#!! &''ITK0\)>%/$G@]X
M=/AUFWU'0P.8KI&66 ]Q&1G*^@- %+XK:M>:4?#7V;4;ZRANM36"Y-D,R-&0
M20  23QQBEUV\GTSX1ZQJFE:SJLLA0RP7%[\LT1#!2O*@@9!ZCN:U/'?AC5_
M$,^A7&D7%E#-I=\+S_2MV'*C@?*.E5]8\/\ B[Q)X7UG2=4N]'C:[A6.W%LL
MFU3NRQ<GGH. !0!TGAJ::[\*Z5-<2O)-+9Q,\C'YF)49)]ZYWX4:G?ZOX(2\
MU*\FN[AKJ=3)*<G"N0!^0J;P]IOC73H].L;VYT,V%I$(W,"2F20*N%Z\#G&>
MM8_A?PMXY\+:,-)M+W0&MQ.\HE=92X#L6/' )Y.* ,\ZOXLN;OXB6^BW<MS?
M64\:6$+D$1*5RP0'C/7&:M^!=6T;4=3MD3Q'KD>M1)_I>F:I*0TC;<'Y&&.#
MR-M:5EX4\1Z1JWB?5-.O=-^TZI<QS0"97*@*,%7 Z9'<=*BE\):_XD\3:/JW
MB%-)LUTF;SXQ8[GEF;L"[ 83VH [/6I)(M"U"2*1HY%MY"KJ>5.TX(]ZP?AG
MJ%YJGP[T>^O[F2YNIHF:260Y9CO:NAU2VEO-)O+6 H)9H7C0OG:"00,X[5Q/
MA3P[XX\-Z-INBB\T$V-JP5Y524RF/=D@ X&[D\T 3?#_ %/4+_7/&,-[?3W,
M=IJSPVZR$$1IC(4>W-9FNW5Y=?%B32I?$&H:=I::3]I86\P0!PV,Y(-6-,\+
M>-- U?Q!=:7=:$\6JWKW2BY$NZ//0<#GC%:=KX4U5?B'#XEN[JSEB&F"SE1%
M8,TF02P'0#/;- #?AO?:Y>Z7J']KRW%S;0W;1V%W<P^7+<0CHS# []\<T5VM
$% '_V0$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
