Interfax and AK&M award 2013 transparency prize to Rosneft
The Interfax and AK&M information agencies have named Rosneft this year‘s company to have shown the promptest and most detailed disclosure of information for potential investors.
The annual prize "For an Active Corporate Policy of Information Disclosure" was instituted by Interfax and AK&M, as authorized agencies for share-issuing companies in 2003.
It is the second time Rosneft has won the transparency award.
The crystal trophy, symbolizing transparency, was presented to a Rosneft representative on December 3 at the awards ceremony for the national "Director of the Year" business prize, organized by the association of Independent Directors and the Russian Union of Industrialists and Entrepreneurs (RSPP).
The jury, which included representatives of the information agencies, the Moscow Exchange , the Financial Communications and Investor Relations Alliance (ARFI) and experts in the field noted that Rosneft hews to the highest standards of information transparency, making wide use of new formats for working with investors.
Rosneft published almost 500 statements in 2013 containing material facts, making it the leader among Russian public companies, according to date from the Center for Corporate Information Disclosure www.e-disclosure.ru.
"Rosneft is perennially one of the first to publish international accounts, has resumed conducting conference calls for investors, publishes critical news for investors in a timely fashion as well as production data. Its website has improved the organization of information interaction with analysts and it constantly posts presentations and video materials," Interfax Group Executive Director and jury chairman Vladimir Gerasimov said.
The jury also noted that publication of Rosneft‘s consolidated financial reports accords with best practice.
The system of disclosure by the authorized agencies, set up along the lines of the British model, is marking its 10th anniversary this year. The agencies have formed centers for disclosure of corporate information where the public can find information concerning material events at the company, financial reports, and other important market information.
The prize "For an Active Corporate Policy of Information Disclosure" was established by the information agencies for companies that have achieved the greatest success in timely and complete disclosure of information for investors.
In selecting the winter, the jury considers the completeness and timeliness of disclosures of financial accounts, corporate events, information on ultimate beneficiaries and foreign investors, and an overall evaluation of the company‘s behavior in the information sphere.
The previous winners are Magnit (2012), Sberbank of Russia (2011), Magnitogorsk Iron & Steel Works (MMK) (2010), Rosneft (2009), Lukoil (2008), TMK (2007), Severstal (2006), Russian Railways (RZD) (2005), Mechel (2004) and Kalina (2003).