On November 23, 2011, the MRSK Holding office was host to the annual investor relations seminar for Russian distribution grid companies discussing the key areas of shareholder/investor relations for 2012 and the performance results in 2010–2011. The purpose of the seminar is traditionally to improve corporate governance practices and, specifically, the quality of MRSK Holding companies’ transparency and openness by upgrading the skills and professional qualifications of shareholder relations personnel.
In his welcoming remarks to the seminar, MRSK Holding’s Deputy Director General for Corporate Governance and Property A. Perepyolkin said, “To raise the performance level of shareholder relations departments is one of the principal goals of MRSK Holding companies’ management. It’s particularly important to fulfill this goal as we are working toward the higher liquidity of the distribution grid sector and its enhanced appeal for investors.”
The seminar included two panel discussions. The panel discussion on the subject “Particularities of Minority Shareholder Relations for Distribution Grid Companies” assembled MRSK Holding’s Deputy Director General for Corporate Governance and Property A. Perepyolkin, MRSK Holding’s Deputy Director General M. Kurbatov, MRSK of the Center’s Deputy Director General for Corporate Governance and Property O. Tkachyova, MRSK of the Center and Volga Region’s Deputy Director General for Corporate Governance and Property L. Podolskaya, Executive Director of the Independent Directors Association D. Kulikov, and ENTs’s Corporate Department Director A. Zharikov; D. Guryanov, Head of the Department for Corporate Governance and Shareholder Relations of MRSK Holding, moderated the panel discussion. MRSK Holding’s representatives told the panelists about the plans to implement the distribution grid sector development strategy approved by the Board of Directors of the company. Additionally, M. Kurbatov noted that close cooperation between management and minority shareholders substantially improved the quality of managerial decisions. Executive Director of the Independent Directors Association D. Kulikov drew the attention of IR specialists of subsidiaries and dependent companies to the fact that protecting minority shareholders’ rights and legitimate interests and providing equal access to information disclosed about the key facts of company activities were an important criterion for being attractive to investors.
The panelists discussing the subject “Topical Issues and Areas of the Medium-Term Development of Russia’s Electric Power Industry” included MRSK Holding’s Deputy Director General M. Kurbatov, Alfa-Bank’s analyst A. Kornilov, Grandis Capital’s analyst D. Terekhov, Federal Grid Company’s Deputy Head of the Department for Corporate Governance and Shareholder Relations A. Dyuzhinov, and MRSK Holding’ Head of the Tariff Design Department Yu. Pankstyanov; M. Stepanova, Deputy Head of the Department for Corporate Governance and Shareholder Relations of MRSK Holding, moderated the panel discussion. The panelists focused on tariff regulation in 2012 and the distribution grid sector development strategy. M. Kurbatov drew the panelists’ attention to the fact that the MRSK Holding strategy specified the progressive enhancement of the distribution grid sector’s efficiency and contained the geographical expansion of the company’s operations, which would enable MRSK Holding to achieve synergy. The analysts noted that the uncertainty resulting from RAB-led possible adjustments in tariff regulation created a considerable discount on the fair stock value of distribution grid companies. At the same time, MRSK Holding’s plans to raise its operating and economic efficiency and turn to the possible privatization of MRSKs might have a beneficial effect on the company’s market cap. In addition, the inclusion of MRSK Holding shares in the MSCI EM index formed the basis for a potential increase in liquidity and a wider range of the company’s international investors. A. Dyuzhinov, Federal Grid Company’s Deputy Head of the Department for Corporate Governance and Shareholder Relations, told the panelists about the experience of going through the LSE listing process.
The seminar also included an awarding ceremony to commend the best investor/shareholder relations departments of distribution grid companies. A survey of investors and stock market analysts named the IR personnel of MRSK of the Center and MRSK of the Center and Volga Region as the best investor/shareholder relations specialists in 2011. The IR department of MRSK of the North Caucasus received the award for Best Investment Community Meeting. In investors’ opinion, MRSK of the Northwest’s management demonstrated the greatest openness. Tyumenenergo’s shareholder relations specialists were awarded for Best Annual Report 2010. An individual award for professionalism and a personal contribution to developing investor/shareholder relations went to Ulyana Davydova, Head of the Shareholder Relations Department of Lenenergo. The IR departments of MRSK of Siberia and MOESK received the awards for Best IR Support for Key Corporate Events and Most Liquid and Dynamic Securities 2010 respectively.
MRSK Holding Investor Relations