Principles and Practices of Disclosures
Ensuring the openness and transparency of the activities of the Company and its subsidiaries and dependent companies is a key area for developing the Company’s corporate governance system.
The following fundamental principles underlie the policy on disclosures:
In accordance with the principles of regularity and timeliness of disclosures, the Company provides stakeholders with information about its activities within the period prescribed by the legal regulations of the Russian Federation and internal documents of the Company. Divisions of the Company inform shareholders, investors, and other stakeholders within the shortest time possible about events and facts that affect the Company’s financial and economic activities, with the understanding that any disclosed information is valuable for its recipients only if it is disclosed in a timely manner.
In order to ensure the accessibility of information, the Company uses all possible distribution channels, providing shareholders, investors, and other stakeholders with free access to disclosed information. The Company is constantly engaged in creating a single information space by introducing a uniform policy on shareholder/investor relations. It maintains constant dialog with shareholders and various groups of investors and professional securities market participants, and organizes meetings, conference calls, and presentations of strategic plans and operating results. The company also prepares replies to inquiries sent by shareholders and investors, and operates a shareholder hotline.
An important information resource and disclosure channel is the Company (http://www.holding-mrsk.ru) website. It contains detailed information about the Company and its subsidiaries and dependent companies, the Articles of Association, basic internal documents, and information that may have an effect on the value of the Company’s securities. Information contained on the website is updated and supplemented on a regular basis.
Starting from 2012, the Company also uses a webpage provided by Interfax, a major securities market news agency accredited by the Federal Financial Markets Service of the Russian Federation (http://www.e-disclosure.ru/portal/company.aspx?id=13806), for disclosing information. Using the news agency’s webpage made it possible to considerably improve the efficiency of informing the market of corporate news and provide stakeholders with a simplified search for information.
If required under law, information is published in a periodical, Izvestia, one of the most popular and widely read newspapers. The obligation to publish information in this periodical is specified in the Company’s Articles of Association and has not changed since the inception of the Company. This indicates the stability of its information policy.