1 Nov 2007 16:59

Interfax, АK&M name OAO TMK the most media friendly company 2007

The information agencies Interfax and AK&M have named OAO TMK as the winner of the annual contest For Active Corporate Policy on Information Disclosure.

The traditional prize (a transparent glass crystal, which symbolizes media friendliness) was given to a representative of OAO TMK at a ceremony held at the Moscow Interbank Currency Exchange (MICEX) on November 1.

The prize “For Active Corporate Policy on Information Disclosure” was established by Interfax and АK&М, authorized agencies of the Federal Service on Financial Markets in 2003, for issuers achieving the most successes in prompt and full disclosure of information to investors.

In the previous years, this prize was awarded to OAO Severstal (2006), OAO Russian Railways (2005), OAO Mechel Group (2004), and OAO Kalina (2003).

"The market is watching the observance of information disclosure by companies that have passed the IPO period and have commenced routine work on the stock market. We believe OAO TMK, which successfully conducted primary placement of shares a year ago, is a fine example of a company that managed to organize regular and creative information work with investors," said Vladimir Gerasimov, Executive Director of Interfax Group and Chairman of the contest jury.

"The successes of OAO TMK in the sphere of increasing transparency are legitimate. Our company is using the most modern corporate governance standards, and thanks to that the successful primary placement of shares at the London Stock Exchange took OAO TMK to a totally new level of development," said OAO TMK General Director Konstantin Semerikov. "Our plans are ambitious: we want to be leaders on the world market of oil and gas pipes, to increase the shareholder value of the company, and to bring a good profit to all our shareholders," he said.

When selecting the winner of the prize “For Active Corporate Policy on Information Disclosure, the jury takes into account the daily practice of information work done by the company, including the fulfillment of the requirement to disclosure significant facts, the situation with the publication of additional information, investor information, the promptness of the publication of accounting reports based on international standards, the quality of quarterly reports, etc.

The requirement for compulsory disclosure of information of significant events by issuers through the newswires of authorized information agencies was introduced by the stock market regulatory body in October 2003.

Over 11,000 companies currently disclose information on significant events through the authorized agencies.