Interfax and AK&M, both of which are accredited by the Central Bank of Russian (CBR) to handle the disclosure of corporate information, have recognized PJSC Lukoil (MOEX: LKOH) as the winner of the annual "Active Corporate Policy in Information Disclosure" award.
The honorary prize, a crystal trophy symbolizing transparency, was presented to the company on February 8 in Moscow at the award ceremony for the annual Director of the Year award, organized by the Independent Directors Association and the Russian Union of Industrialists and Entrepreneurs.
The jury, which includes representatives of news agencies, trading platforms, Independent Directors Association, Russian IR Association ARFI, noted the excellent organization of the company's corporate website, its systematic approach to describing ESG factors, the high quality of the annual report and the disclosure of information in the form of material facts.
"Lukoil has consistently shown an example of a high-quality and informal approach to information disclosure. Journalists at agencies note that the company is synchronized in publishing statements on its operations in Russia and abroad, releases financial indicators on a quarterly basis as quickly as possible, and provides specific data when covering ESG factors without limiting itself to generalities," said Vladimir Gerasimov, chairman of the jury and First Deputy General Director of Interfax Group.
Lukoil already received the award in 2008, Gerasimov said, has maintained the highest standards of information disclosure for investors for years.
"Lukoil adheres to the best global practices of information disclosure with a focus on all major audience groups - media, authorities, investors, consumers of our products, and residents of the regions where the company operates. Along with the corporate website we are actively developing the social media area, where the most up-to-date information about LUKOIL's operations is now available, as well as links to key documents: press releases, reports, exclusive interviews and comments," Gleb Ovsyannikov, head of Lukoil's public relations, said at the ceremony.
Interfax and AK&M established the award for active corporate policy in the area of information disclosure in 2003 for companies that have achieved the greatest success in prompt and complete disclosure of information for investors. When selecting the winner, the jury considers the completeness and timeliness of disclosure of financial statements, corporate events and information about ultimate beneficiaries, corporate governance, the synchronicity of disclosure for Russian and foreign investors, and the extent to which the company's information policy is conscious and proactive. In addition, the informative value of news, as well as attention to environmental issues, social responsibility and corporate governance (ESG) issues are also taken into account.
Accredited news agencies provide prompt information disclosure. Every year, more than 130,000 company news releases are published on the newswires of the agencies, according to the Interfax e-disclosure.ru Corporate Information Disclosure Center.