Investor Relations

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IMPLEMENTING BEST PRACTICES IN INVESTOR RELATIONS 1233.6.3 Online Investor RelationsThanks to technological innovation and regulatory changes, the InvestorRelations section of corporate Web sites has becomeessential information platforms for investment professionals, sometimeseven their first port of call;communication tool for companies that want to communicate widely;a legally recommended way to meet public disclosure requirements in agrowing number of countries. However, unless the internet is deemed tobe a regulatory information channel in your country, you should by nomeans disclose price-sensitive information via the medium first. Onlyafter it is in the public domain will you be allowed to post it on yourWeb site.These Information Relations pages have gone well beyond their initialpurpose of being shop windows and online libraries for companies: Theyplay an ever-important role in marketing shares by enhancing the company’svisibility as well as showcasing its products and services. If properlydesigned and maintained, they also prove to be a source of cost and timesavings in information dissemination. And last but not the least, a Web sitecan lessen the Investor Relations workload, automatically answering analysts’and investors’ questions and requests for information.3.6.3.1 Basic principles for Web site constructionInvestor information may be posted to a separate Web site or incorporatedwithin the corporate Web site, but the following rules should be followedin all cases: Conduct a thorough peer review. Find out which companies haveaward-winning Investor Relations Web sites, in your sector or outside yourindustry as well. The Web site is not only a tool for disseminating information butalso a vehicle for interacting with the company. It should provide specificinstructions for contacting the company and subscribing to e-mail alertslists for press releases. From the beginning, a system should also be set upto track usage and ask for user’s feedback. The initial architecture should be designed simply, but also solidlyenough to handle changes. Regulations may require that information bekept current at all times and time stamped, pages be translated into different
124INVESTOR RELATIONSlanguages be identified, and archives of historical information be stored forseveral years. There should be regular reviews about how the site can beupgraded in terms of content or navigability. Create microsites to keep the investment community and othersupdated about a bid, a transaction. The Internet is likely to be the mostefficient way to get your story across how you want it told, to an audiencethat will increase exponentially during a deal or a crisis situation. Make the Web site user friendly, easy to navigate, comprehensive,and convenient, and as the ultimate information source about your company,in accordance with current regulations. It should help users understand moreabout the company’s businesses and markets. This means that a glossary may be included, along with otherfeatures such as videos of field trips and sector analyses. Online Investor Relations is accessible to all, with no restrictionsor password. This may apply for the blind, partially sighted, and hard ofhearing, if you are planning on posting webcasts of Investor Relationsevents, for instance. Pages may be translated into several languages andcurrency converter are sometimes available too. The more accessible thesite, the more likely people are to use it and understand the company.Viewing the Web site from the user’s perspective will help you ensure thatyour information will never be more than just a few clicks away and that itfeature the most commonly used headings that make sense to both professionalsand the average visitor. Adequate programming will allow you tooffer the possibility to print or e-mail pages. While some sections may be devoted to certain categories of visitor(for the analyst, the journalist, the individual shareholder, the industryanalyst). The format used for a particular type of information should fitthe audience’s needs. In general, HTML and PDF will meet most users’needs. But extra care may be required for your Web site to be copied, transferred,printed, and read from hand-held devices as well. Add interactive,graphics-based tools and a spreadsheet functionality for financial tablesfor analysts: They will take these data, feed them into their models, createcharts, and make calculations. This is will often help differentiate yourInvestor Relations Web site from the crowd.3.6.3.2 Site contentWeb sites and sections specifically devoted to investors are generallydesigned in the following way: Homepage. It should be possible to move directly to the “InvestorRelations” section from the homepage of the corporate site. Headings
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INVESTOR RELATIONS
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Investor RelationsPrinciples and In
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ContentsList of IllustrationsIntrod
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CONTENTSvii3.3 Understanding Market
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CONTENTSix4 Measuring The Value Of
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IntroductionAll things being equal,
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INTRODUCTIONxiiion the primary mark
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CHAPTER 1Competing forCapitalBringi
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COMPETING FOR CAPITAL 3FoundersShar
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COMPETING FOR CAPITAL 5attract and
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COMPETING FOR CAPITAL 7OfferDemandS
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COMPETING FOR CAPITAL 9are robust e
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COMPETING FOR CAPITAL 11 Develop an
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COMPETING FOR CAPITAL 13image long
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COMPETING FOR CAPITAL 15ensure that
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COMPETING FOR CAPITAL 17The company
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COMPETING FOR CAPITAL 19will benefi
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COMPETING FOR CAPITAL 21Because deb
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COMPETING FOR CAPITAL 23Pre-IPOEsta
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SEVEN KEYS TO SUCCESSFUL INVESTOR R
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Page 88 and 89: SEVEN KEYS TO SUCCESSFUL INVESTOR R
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Page 186 and 187: Resources6.1 The CEO Investor Relat
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RESOURCES 1736.3 Earnings Presentat
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RESOURCES 175Today’s investor day
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RESOURCES 1776.5 Investor Relations
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RESOURCES 179Your commitment to sen
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D-7 Audit committee meetingFinal ro
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Indexaccounting standards, 35, 57,
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INDEX 185disclosure, 2, 9, 11, 44,
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INDEX 187investor relations - conti
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INDEX 189risk, 4, 6, 38, 54, 72, 87
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Investor Relations

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