Ciri’s big event, May 26-28, will take place at Le Manoir Richelieu in Charlevoix, Quebec, a picturesque setting that conjures images of long walks and fine wine rather than hot debate on pressing investor relations issues. Nevertheless, IROs from across Canada will gather to discuss the changing role of investor relations.
High on the agenda will be the new Canadian Securities Administrators (CSA) guidelines. Susan Wolburgh Jenah, general counsel for the Ontario Securities Commission and a major force behind the administrators’ policies, will be speaking at the Ciri event.
Ciri’s session on corporate disclosure will draw a comparison between the SEC’s Reg FD and CSA guidelines. Some believe the latter may be even more stringent. ‘Definitions of materiality and insider trading rules have been embedded in Canadian securities law for over 20 years,’ notes Joanne Brown, Ciri’s president and CEO. ‘And we have also had a requirement to file material change reports for a long time.’ Conference panelists will also discuss current best practice in timing information disclosure, providing earnings guidance and issuing pre-releases.
The power of your brand is the title of another notable session at this year’s conference. ‘As companies try to gain visibility in the marketplace, they are looking at every aspect of their business, including branding,’ says Brown. ‘From an IR perspective, any bit of information used to differentiate your company in the marketplace helps.’
This session will show how branding has become a value driver for companies. Maarika Paul, VP of IR at BCE, will moderate the session and Tim McChesney, president of Geyser Brand Strategy, will present.
It comes as no surprise that a session on crisis communications and dealing with unexpected events is on the Ciri conference agenda this year. The Canadian business landscape has caught its share of Enronitis, and the energy company’s quick descent reminded Ciri members that a potential crisis lurks behind every balance sheet. While the best way to learn about crisis communications may be to deal with one first-hand, IROs can also take note of others’ experiences.
‘This session will look at a series of case studies,’ explains Brown. Ciri chose presenters based on their experiences communicating to multiple audiences during times of corporate crisis. Katherine Vyse, senior VP of IR at Brookfield Properties, will talk about her lesson in crisis communications this past September. Brookfield Properties owns three properties next to the World Trade Center and Vyse had to react immediately to analysts who were concerned about those buildings. Brown recounts Brookfield’s reaction: ‘The company sent down engineers immediately because they had to reassure the public, investors and tenants.’ Dale Coffin, manager of external communications and public affairs at Noranda, a Toronto-based mining company, will also present.
As in previous years, the 2002 Ciri conference includes a portfolio managers’ roundtable so IROs can hear what the buy side and sell side really think. This year’s discussion focuses on the types of investments portfolio managers are making, whether their research habits have changed, and how IROs can attract attention. Participants include Claude Boulos, VP of Canadian equities at NatCan Investment Management, Julia Robertson, partner in CA Delaney Capital Management, and Jean-François Bergeron, associate portfolio manager with CDP Global Asset Management.
With a focus on investor relations education, Ciri’s conference is designed to help Canadian IROs build the skills and acquire the tools necessary to succeed in today’s tough environment. Considering conference participants have varied levels of experience and interest, Ciri is adding several more breakout sessions which participants must register for in advance. Topics include media training, preparing MD&A, and targeting retail investors.
Another conference highlight will be the annual dinner and dance. This year’s theme is Cirque du Ciri, playing on Quebec’s renowned Cirque du Soleil. After a day and half of being ringside to panel discussion and presentations, IROs will undoubtedly enjoy being under the big top.
