NASDAQ OMX ARMENIA CONDUCTS INVESTOR RELATIONS SEMINAR AND CORPORATE GOVERNANCE WORKSHOP
/PanARMENIAN.Net/
23.06.2009 17:23 GMT+04:00
/PanARMENIAN.Net/ The Investor Relations and Corporate Governance
seminars were organized in Yerevan jointly by NASDAQ OMX Armenia and
the Partners for Financial Stability (PFS), a program run by USAID
and the East-West Management Institute, NASDAQ OMX Armenia company’s
press service says in a press release.
According to the release, one of the primary objectives of Partners for
Financial Stability (PFS) program is to assists countries in Central
and Eastern Europe to accelerate financial sector development and
reform based on best practices as well as international standards,
promoting integration into the European and international economic
systems.
The Investor Relations (IR) seminar held on June 17 gathered nearly 60
representatives of all capital market stakeholder groups, including
issuers listed and admitted to trading on NASDAQ OMX Armenia, stock
exchange member banks and investment companies, business journalists,
as well as the Central Bank of Armenia. Speakers, both local and
invited from the United States, Poland, and Estonia, covered a variety
of topics such as importance of IR in modern corporate environment;
IR development trends in Europe in the past two decades; information
disclosure requirements that exist in European countries and Armenia;
channels and tools used for communicating with investors; Baltic
market experience in promoting the development of the companies’
IR function and rewarding IR outperformers.
A survey of websites of Armenian companies listed or admitted to
trading on NASDAQ OMX Armenia was also presented, focusing on how their
online IR practices compare to those of peers in various European and
CIS countries. It was concluded that, even though investor relations
is a relatively new area of activities in Armenia, it is not neglected
by Armenian companies and will continue to receive increasing attention
from businesses that want to raise capital in the market.
The Corporate Governance workshop was held on June 19, 2009
and was attended by over 20 participants, primarily financial
journalists. During the workshop, a corporate governance case study was
presented, which helped emphasize the importance of transparency and
good governance practices in companies. Evidence from multiple sources
was used to demonstrate that investors worldwide are prepared to pay
a premium for the securities of companies that are governed in an
accountable and transparent manner. The second presentation, specially
designed for journalists, provided an overview of principles and best
practices to follow when reporting on topics related to corporate
governance. The role of media in making the general public aware
of potential issues related to governance practices in companies,
as well as in providing insightful and impartial coverage of all
related topics was stressed.
Having received very positive feedback regarding both events,
NASDAQ OMX Armenia foresees that they will promote good governance
practices and strengthen investor rights protection in Armenia, thus
assisting the Armenian companies in attracting more capital for their
development needs.
In January 2008, Nordic exchange operator OMX Group acquired 100%
of shares of the Armenian Stock Exchange (Armex) and the Central
Depository of Armenia (CDA). After the merging of NASDAQ and OMX in
February 2008, Armex and CDA have become fully owned by the NASDAQ
OMX Group, Inc. For more information on the NASDAQ OMX Group, Inc.
The NASDAQ OMX Group, Inc. is the world’s largest exchange company. It
delivers trading, exchange technology and public company services
across six continents, and with over 3,900 companies, it is number
one in worldwide listings among major markets. NASDAQ OMX technology
supports the operations of over 60 exchanges, clearing organizations
and central securities depositories in more than 50 countries.
On January 27, 2009, "Armenian Stock Exchange" OJSC was officially
renamed as "NASDAQ OMX Armenia" OJSC. On June 5, 2009, "NASDAQ OMX
Armenia" OJSC became the owner of 100% of the shares of the "Central
Depository of Armenia" OJSC.
From: Emil Lazarian | Ararat NewsPress