CIRI Ontario Chapter Update

As we welcome the warmer months of spring, CIRI Ontario would like to thank all of its members for a successful winter season. Our events continue to be well attended by IROs from a range of industries, and we couldn’t be more pleased.

In February, we hosted a seminar on Private Market Capital Raising and Trading. The luncheon, which was sponsored by Scotiabank, consisted of a panel discussion with Tarun Ajwani, Vice President, TSX Private Markets and Shorcan Energy Brokers Inc., and Peter Jarman, National Marketing Director, Axcess Capital Advisors.

In March, we hosted Straight Talk from the Street, a luncheon with professionals from the buy-side and sell-side, who provided insights on how they make their investment decisions.

We also hosted a mentorship breakfast in April, with Bob Tait, VIce President, Investor Relations at IAMGOLD Corporation.

We'll be hosting our AGM and a networking social on April 22. We hope to see all CIRI Ontario members there.

CIRI Alberta Chapter Update

In March, a panel of sell-side analysts and experienced communicators discussed ways to Ensure Your Disclosure Communicates Effectively. Suggestions from the panel for quarterly news releases included: avoiding jargon; placing details in headlines (e.g. ‘XYZ Reduces Capital Spending to Preserve Cash Position’ rather than ‘XYZ Reports Third Quarter Results’); know your audience (e.g. value investors or activists…and talk about the items they care about); ensure the 12-month report breaks out the fourth quarter; and consider the use of tables instead of long sentences for comparative data. Analysts Mark Friesen of RBC and Gord Tait of BMO also strongly suggested very short conference call scripts – don’t read the release – leaving as much time as possible for Q&A. The CIRI Alberta Board wishes to thank NATIONAL Public Relations for sponsoring the event.

Also in March, CIRI Alberta hosted another of its popular, members-only Brains Over Beers networking events.

On April 16, we hope all members will attend the CIRI Alberta AGM, which will also feature a Senior IRO Roundtable. Please see www.ciri.org for details. 

CIRI BC Chapter Update

Darren Seed, Vice President, Capital Markets and Communications at Westport Innovations, entertained, educated and provided excellent advice to IROs during the BC Mentorship breakfast in November. Also an active participant in the CIRI BC Chapter, Seed came prepared to discuss relevant topics such as career development, running a standout/award winning IR program and how to stretch an IR budget in difficult times.

Mentorship played a valuable role in Seed’s career trajectory and he was quick to identify the importance of such relationships. One of the highlights for Seed each year at the CIRI Annual Conference is the opportunity to meet new IROs and establish relationships. This certainly is beneficial for the newcomers to the industry but Seed is quick to point out there is often just as much to be learned from a fresh perspective.

For coping during difficult times when budgets are constrained, he offered the following advice:

• Thoroughly evaluate items to be cut. Often companies eliminate travel first but don’t underestimate the power of a face-to-face meeting relative to a telephone call.
• Connect with the media to spread the word. Develop relationships and don’t assume that because your company has a small market cap, the media won’t be interested in the story.

As an IR Magazine award recipient (2010) for the best IRO in a small to mid-cap company, Seed was asked what makes an IR program really stand out. His response can be summed up in one word: communication. Spending extra time with analysts and shareholders can build significant respect and credibility. This sounds simple and yet taking the extra time with key stakeholders is often overlooked by company representatives.

As for new IROs, Seed offered this advice: “Be patient, but have initiative and a strong drive to learn.”