- Partnership Will Combine Dissemination in France and Across the EU, to
Provide a Transparency Obligations Directive Compliant Solution
LONDON, Dec. 14 /Xinhua-PRNewswire/ -- PR Newswire, the world’s leading
disclosure and corporate news distribution service and Les Echos, the leading
French financial newspaper and website ( http://www.Lesechos.fr ) today
announced a partnership that will provide listed companies in France with a
disclosure service that is compliant with the Transparency Obligations
Directive, due to be implemented in January 2007.
(Photo: http://www.prnasia.com/sa/200612141600.jpg )
"In light of the new EU regulations, listed companies in France will be
re-assessing both their disclosure obligations and how to fulfil them,"
according to Lisa Ashworth, CEO, PR Newswire Europe. "This partnership with
Les Echos and Lesechos.fr will provide French clients with access to EU wide
dissemination through Les Echos’ Entreprises integrated platform. This
further strengthens PR Newswire’s global position as the market leader in
the investor relations and media communications industry."
By combining the expertise of both PR Newswire’s global communications
services with Les Echos’ French network and client base, French companies
will now be able to ensure their compliance with new European regulation.
Ashworth is focused on the customer opportunity this partnership will
bring. "The combination of PR Newswire’s experience as the leading global
regulatory and general news distributor, allied with Les Echos’ position as
the primary provider of existing, newspaper advertisement-based obligations,
will result in the most comprehensive and effective disclosure and new
distribution solutions for customers in the region."
Philippe Jannet, Managing Director of Electronic publishing for Les Echos
says, "Les Echos is delighted to have this arrangement with PR Newswire,
which will give French issuers compliance with transparency regulations in
Europe."
As the only corporate news distributor on the Committee of European
Securities Regulators (CESR) Consultative Working Group on the Transparency
Obligations Directive (TOD), PR Newswire has played a critical role in
shaping the European Union’s forthcoming Directive, scheduled to go into
effect in January 2007.
TOD is part of a series of measures passed by the European Commission
designed to establish a level playing field in the European financial
services markets. Specifically, TOD is focused on ensuring that issuers meet
certain minimum standards of disclosure when disseminating price-sensitive
news and information. Paramount to this mandate is that information be
disseminated throughout the European Union in a manner that supports
simultaneous delivery, thereby providing institutional and retail investors,
the media and the general public equal access to material news the moment it
is announced.
Mark Hynes, PR Newswire’s Managing Director of Global Investor
Relations Services, said, "When the European Union first proposed the
Transparency Directive, PR Newswire took the initiative to counsel those
involved in drafting the legislation on the importance of promoting
widespread disclosure. Today, as the European Union prepares for the TOD, PR
Newswire has again assumed a leadership position by offering a means for
companies throughout the EU to disseminate information on both a local and
wide scale basis."
This partnership is at the forefront of numerous announcements PR
Newswire will be making in the forthcoming months, to ensure customers
compliancy with the new EU directives.
About PR Newswire
Now in its 52nd year, PR Newswire ( http://www.prnewswire.com and
http://www.prnewswire.co.uk ) provides electronic distribution, targeting,
measurement and broadcast services on behalf of some 40,000 corporate,
government, association, trade, non-profit, and other customers worldwide.
Using PR Newswire, these organisations reach a variety of critical audiences
including the news media, the investment community, government decision-
makers, and the general public with their up-to-the-minute, full-text news
developments.
Established in 1954, PR Newswire has offices in 11 countries and
routinely sends its customers’ news to outlets in 135 countries and in more
than 40 languages. Utilising the latest in communications technology, PR
Newswire content is considered a mainstay among news reporters, investors
and individuals who seek breaking news from the source. PR Newswire is a
subsidiary of United Business Media plc of London.
For full information on PR Newswire products and services email
marketing@prnewswire.co.uk or go to http://www.prnewswire.co.uk .
About LES ECHOS
Founded in 1908, the French daily newspaper Les Echos is the paper of
reference for business leaders.
Les Echos has a circulation of 140,313 (OJD 2005) and is read by 579,000
business leaders and decision-makers (IPSOS FCA 2006). The editorial staff
is made up of 180 journalists (with 10 foreign correspondents) and
approximately 40 regional correspondents.
Created in 1996, Lesechos.fr is the leading French business and
financial web site. It provides all the up-to-date financial news and
related data,
including the markets and business information. Lesechos.fr was the first
information website in Europe, exploring a hybrid model (free content paid
by advertising and content reserved to website subscribers). Today
Lesechos.fr
have more than 25,000 subscribers, more than 1,2 million unique
visitors/month and is one of the rare information website to be profitable.
http://www.lesechos.fr
