Investor Relations

IMPLEMENTING BEST PRACTICES IN INVESTOR RELATIONS 125should include, at the very least, a detailed section map, the last stockprice, the title of the latest press release with a link to it, and access toinformation about contacting the company or subscribing to press releasesand e-mail alerts. The Investor Relations policy can be introduced via astatement from the CEO. Company information. The idea is to use core messages topresent the company’s history, businesses, markets, and strategy. This pageshould include a list of key dates and figures along with biographies of keyexecutives. Calendar. This page should include dates from the current yearand the following one where possible, and mention the main meetingsscheduled with the financial community, even if the dates are subject tochange. It should be updated regularly. Share data. Users should find the stock symbol and quotes (usuallywith a slight delay) as well as historic data (highs, lows, opening andclosing price, trading volumes in number of shares and value) and informationabout dividends. If the company is listed on a foreign market, it willneed to provide the same information in the local currency. The most sophisticatedsites even provide an electronic calculator to enable shareholders toestimate the value of their investment and compare its performance to thoseof the major indices, also included on the site. Financial data. Information should be exhaustive, accessible indifferent formats, and where possible, downloadable into analysts’ spreadsheets.There are often subsections with the annual report and a descriptionof the accounting standards used as well as archives for at least the lastthree years. The key financial ratios should also be provided either in text orgraph form with historical comparisons. Press releases and other documents. All releases issued by thecompany should be classified by date of publication or topic, with or withouta search engine. This section should also include presentations given atthe time of earnings announcements, strategic transactions, analyst days orconferences, and any legal documents filed with authorities for markets onwhich the shares trade. The annual report should be downloadable in severalformats and feature a table of contents. It should be possible to select andprint pages; interactivity should be easy. Shareholder information. Designed for retail and institutionalinvestors alike, this section describes the share ownership structure and allinformation about the AGM, from the voting process to resolutions, broadcasts,and vote results. When legislations so allow, shareholders may registerto vote directly through the Web site. When such services exist, shareholdersshould also be informed about the possibility of holding shares directlywith the company, trading stocks, reinvesting dividends, receiving updateson corresponding tax laws, and so on.