OREANDA-NEWS  On 25 November was announced, that the Annual Report of IDGC of Centre, JSC will be the best among annual reports of the grid sector companies with respect to the information disclosure for investors.

On 19 November 2008, IDGC of Centre, JSC according to the decision of the Jury of  XI Annual Federal Competition of Annual Reports and Websites was declared the winner in the "Information Disclosure for Investors in the Annual Report of the Company of the Grid Sector" nomination.

The solemn ceremony of awarding the winners took place within the limits of the 5th Federal Investment Forum which was held in Moscow.

The organizers of this competition are Securities Market magazine, MICEX Stock Exchange and The Ministry of Economic Development of the Russian Federation. The main goal of the competition is to increase information transparency, representation and promotion of corporate governance practice, and also increase of an investment appeal of joint-stock companies and other competition participant organizations.

“The competition results represent a special value for us as this was actually the competition, where our work was assessed by its target audience,” said Konstantin Kotikov, the Deputy General Director of IDGC of Centre for Corporate Governance. “We competed with almost all largest companies which spun off from RAO UES of Russia, as well as the largest issuers of our country. The main thing is that the victory in this competition fully corresponds to the target of the Annual Report.”

This year, all time high number of organizations took part in the competition: 159 companies, including 139 companies in the annual reports competition, 121 companies in the website competition. The winners of the competition in various sectors and nominations include such large companies as Alfа-Bank JSC, MMC Norilsk Nickel, Gazprom, JSC Lenenergo, MOESK (Moscow Electric Grid Company, JSC), OGK-4, and OGK-6 are presented.

IDGC of Centre, JSC for the first time takes part in such a competition, and its efforts to increase transparency were at once marked by a high award. It is necessary to note that the information transparency is an important component in the company development.

“The received award is the result of the consistent policy of the company with regard to improving transparency and constant dialogue with investors and shareholders. We intend in future to open the information, including in the annual report, on the highest level,” said Tatyana Kulbakina, Director for Corporate Issues of IDGC of Centre.