Investor Relations

IMPLEMENTING BEST PRACTICES IN INVESTOR RELATIONS 143so it is important that the chosen date does not coincide with events organizedby other listed companies from the sector and that it does not coincidewith the earnings reporting season or during school holidays. Invitations should be sent out to the entire analyst and investor base,ahead of time, no less than a month before. A “save the day” notice will getyour event into diaries even if all the details are not entirely finalized. If participants’numbers have to be limited, then it is best to mention this in yourinvitation, while being aware of the criticism about selective or preferentialaccess this mail entail.3.6.16.3 LocationSite visits tend to be quite popular but demand complex logistics,significant planning and budgets for the listed company. The institutionsrepresented by analysts and investors may not be willing topay for travel expenses, especially abroad. Documentation shouldbe made available to those who cannot attend, or a webcast may beorganized.Holding the event in your headquarters or in a hotel in a large financialcity event will probably maximize attendance and reduce potential lastminutecancellations.3.6.16.4 ContentThe goal for the attendees is to have a better understanding of yourbusiness. Demonstrations are usually appreciated, but you need to makesure that they do not take up too much time that could be better usedwith hard facts and data. Strategic presentations are a popular feature inanalysts days. You know how much investors and analysts love models,so give them numbers or explain to them the relationships that will helpthem to enhance their models.Like with earnings presentations, AGMs or roadshows, executivesand operational managers should be trained in public speaking andrehearse their presentations. In particular, operational managers shouldbe updated on how to present the company’s key messages so there isno confusion about what can and cannot be said. Allow for as muchrehearsing as possible, invest into executive-speech coaching if necessary,and take this opportunity to remind everyone about the rules ondisclosure (see table 3.5).