DEVELOPMENT PROGRAM OF THE
INVESTOR RELATION DIRECTORS 2014
I.
ASSOCIATION
OF
BULGARIAN
OBJECTIVES OF ORGANIZATIONAL DEVELOPMENT OF THE
ASSOCIATION OF BULGARIAN INVESTOR RELATION DIRECTORS
2013
1. Increasing the efficiency of the established specialized supporting units to the
Management Board, which shall assist the Association in the main directions of its
activity;
2. Improving the quality and intensity of the exchange of information among members of
the Association, as well as between the Association of Bulgarian Investor Relation
Directors and other capital market participants;
II.
ORGANIZATIONAL DEVELOPMENT STRATEGY 2013 OF THE
ASSOCIATION OF BULGARIAN INVESTOR RELATION DIRECTORS
Every year the general meeting of the Association of Bulgarian Investor Relation
Directors adopts an Activity program. The program includes not only the general
trends in the overall activities of the Association, but also the corresponding particular
activities and events that are to be carried out.
A/ THE ORGANIZATIONAL STRUCTURE OF THE ASSOCIATION
1.
Attracting new associates to work to achieve the objectives of the
Association of Bulgarian Investor Relation Directors in the short and
long term.
In 2013 one of the associates left the Association and was not drawn a new one.
If the budget of the organization allows it would be advisable attracting at least one
new associate to assist the organization in the implementation of projects, carried out
jointly with partner organizations.
In 2012 and 2013 have been created ad hoc working groups, formed by members of
the Association, to support the activities in preparing statements, that are presented at
the Financial Supervision Commission, Bulgarian Stock Exchange and Central
Depository.
Б/ DEVELOPMENT
ASSOCIATION:
OF
THE
PRINCIPAL
ACTIVITIES
OF
THE
1. Representing the interests of the Investor Relation Officers at the Financial
Supervision Commission, the regulated market of securities, Central
Depository, state, public and international institutions.
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As an Association unifying Investor Relation Officers of public companies in Bulgaria
ABIRD provides the implementation of the following initiatives to a maximum
representation and protection of the interests of Investor Relation Officers:
regular participation in meetings, initiated by the Financial Supervision Commission
with presentation of current problems and difficulties encountered in the work of
Investor Relation Officers;
preparing and submitting requests for official statements by the Financial Supervision
Commission on matters, relating to the activities of Investor Relation Officers and the
management of public companies;
participation of members of the Management Board of the Association in working
groups and meetings with representatives of the regulated market, capital market
participants;
participation of the Association in the Advisory Council on Corporate Social
Responsibility to the Minister of Labor and Social Policy
participation of the Association in Advisory Council to the chairperson of Financial
Supervision Commission
participation of the Association in The National Corporate Governance Committee
2. Development of statements on projects in the field of legislation and practices
in the Bulgarian capital market in the area of corporate governance,
corporate social responsibility and protection of shareholders' rights:
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participation in the monitoring and updating of the National Corporate Governance
Code;
reporting on implementation of the National Corporate Governance Code through
participation of the Association of Bulgarian Investor Relation Directors in the
National Corporate Governance Committee, which takes into account developments in
the area of corporate governance and making changes to the National Corporate
Governance Code;
preparation of a statement on changes of the Public Offering of Securities Act and its
implementation acts;
preparation of statements on changes of the Commercial Law and Commercial
Register Act;
preparation of statements on changes of the Law on Special Investment Companies
and its implementation acts;
preparation of statements on changes of the Rules and Regulations of Bulgarian Stock
Exchange – Sofia AD;
preparation of statements on changes of the Rules and Regulations of Central
Depository AD
3. Ensuring close cooperation between all participants in the capital market
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organizing and conducting workshops and roundtables on specific issues with
representatives of all participants in the capital market;
organizing and conducting training programs and trainings with representatives of the
various groups of investors in order to improve the quality of information, disclosed
by listed companies, and proper identification of the needs of the different groups of
investors and other stakeholders;
preparing joint analyzes of the degree of protection of the rights of shareholders and
other groups of investors;
4. Organization and coordination of studies and research on the best practice in
corporate governance and corporate social responsibility.
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participations of representatives of the Association in international forums in the field
of investor relations, corporate governance, corporate social responsibility and
protection of shareholders' rights;
conducting regular surveys in the areas of investor relations, corporate governance,
corporate social responsibility and protection of shareholders' rights;
preparing annual analyzes of the level of information disclosure of public companies
and "Investor Relations" activities and presenting them not only to members of the
Association of Bulgarian Investor Relation Directors but also to the investment
community in Bulgaria through an annual conference;
preparing and annual updating of manuals of best practices in investor relations,
corporate governance, corporate social responsibility and protection of shareholders'
rights;
5. Promoting CSR initiatives among public companies in Bulgaria
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Active cooperation of the Association of Bulgarian Investor Relation Directors with
NGO representatives in order to attract more Bulgarian public companies to initiatives
to non-financial information disclosure
Promotion of the National CSR strategy among members of the Association and
corporate boards of the companies they work for.
Participation of the Association as a partner in the project "Restriction and prevention
of informal economy", which aims to terminate and prevent acts of informal economy
in the country and create a social intolerance towards its various forms and
expressions.
6. Organization and conduct of seminars, conferences and training in the field of
Investor Relations and all stakeholder groups, CSR, corporate governance
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conducting conferences to educate and raise the level and quality of information
disclosure by public companies, protect the rights and interests of all groups of
investors and stakeholders
conducting two regular annual meetings - workshops with discussions for members of
the Association
conducting one annual international conference with the participation of renowned
experts in the fields of areas of investor relations, corporate governance, corporate
social responsibility and protection of shareholders' rights. The purpose of holding this
event is to provide updated information on changes in the legal framework,
conducting discussions, introduction to the best practices in other European countries.
7. Publishing activities
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Issuing its own bulletin that covers monthly changes in legislation, new areas in
"Investor Relations" activity, news from the capital market, best practices.
8. Information provision of public companies and their IROs:
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informing public companies and their IROs of any changes in the regulations of the
capital market
daily newsletter with the latest stock exchange information
daily media review
9. Participation of the Association of Bulgarian Investor Relation Directors as a
partner in the project of Bulgarian Industrial Capital Association "Restriction and
prevention of informal economy”
The Association continues, in 2013, to actively participate in project implementation
which concerns Branch "Nonbank financial services". Unfortunately, in 2014 Branch
"Nonbank financial services" is not included in the project.
11. Participation of the Association of Bulgarian Investor Relation Directors in
Securities and Markets Stakeholder Group – at European Securities and Markets
Authority
In the group of stakeholders participate 30 representatives of the European economic and
academic community to consult European Securities and Markets Authority on issues,
related to the capital market. The group meets at least 4 times annually, drawing up
statements and presenting them to European Securities and Markets Authority.
The participation is a great acknowledgment by the European regulator of our Association
and the contribution it may have preparing statements on important issues concerning the
capital market. The Association sets itself the ambitious task of re-emitting a
representative of a new mandate at the end of 2013.