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print version   IR magazine Russia & CIS #1(6) January/February 2009   Contents in Russian   COVER STORY SPIN-OFF: How to find hidden treasures in the desert of market crisis   The cover story is about spin-offs, which offer a number of advantages over an IPO or a strategic sale. As a result, a number of companies are now considering spin-offs as an attractive way of unlocking the value of a business unit within a corporate group, to the benefit of company shareholders. Futhermore, we’ll explain why IROs should be communicating with the board on regular basis, as well as how to vote according to voting guidelines for subsidiary companies. Finally, we will provide overviews of investor relations in Middle Eastern countries and Vietnam; countries investors are used to comparing with Russia.   EDITORIAL Editorial The E-version of the magazine. By Dmitry Bobrov COVER STORY Spin-off: How to find hidden treasures in the desert of market crisis   In recent years, a number of major Russian companies have taken advantage of the corporate restructuring process known as a “spin-off”, which offers a number of advantages over an IPO or a strategic sale. As a result, a number of companies are now considering spin-offs as an attractive way of unlocking value of a business unit within a corporate group, to the benefit of company shareholders. Below we provide a brief introduction to spin-offs under Russian law, including a brief summary of US and EU securities legal considerations. By Philip Webb, Debevoise & Plimpton LLP BEST PRACTICE Regular invitation   Proxy fights get boards and IROs talking Interaction increasing outside times of crisis A platform with the board enhances a career  By Adam Piore   TRENDS The pros and cons of strict voting guidelines   Olga Gracheva, member of Independent directors’ association, looks for the best ways of preparing voting guidelines for subsidiary companies within affiliate companies. By Olga Gracheva CORPORATE GOVERNANCE Governance gulf   IR know-how imported from the UK and the US Many Middle Eastern companies undervalued  Quality of IR is highly inconsistent  Huge investment will raise standards    By Adrian Holliday EXPERT ADVICE The strategy of relative advantages   By Mikhail Matovnikov, Interfax Business Service PEERS GROUP Vietnamese voyage   Boom and bust in Vietnam undermines investor confidence Country’s first investor relations seminar held earlier this year  Singapore Exchange leading the region in Vietnamese listings By Ben Bland   CAREER New assignments M. Arkhipov, U. Vinogradova, A. Goldin, A. Gorbenko, U. Denga, T. Makhno, A. Nikishev, I. Ostryakova, M. Perestiuk, K. Semenov, A. Subbotin.   DEALS IPO volume went down 35 percent in 2008   Based on Thomson Reuters data CALENDAR IR conferences and seminars     NEXT ISSUE:   The necessity of consultant's advice on voting (Riskmetrics, Glass Lewis), the importance of annual report design and the second part of "Relative advantages" article.                     print version

2008 (с) IR magazine Russia & CIS, info@ir-russia.ru