Date:
16.10.2010
Dear shareholders,
It is a long-standing and customary practice for the leaders of public and joint stock companies to address their shareholders in special letters accompanying their annual reports. Looking into letters to the shareholders released by some companies, one may see that such letters vary in content and structure quite considerably. They mainly highlight most important achievements in the respective company’s performance and development in a given year. They especially like to highlight the strength and performance of their brands and products, the situation in the business environment that affected and/or limited performance of the respective company, projecting hints and expectations for the upcoming business year. These messages are rarely self-critical, because their main purpose is to encourage positive business expectations with the existing institutional and other shareholders, to retain them as satisfied investors, and to attract new ones in case there is need for additional capital.
Complete President's Letter to the Shareholders you can read in online version of Annual Report 2009. on this link.
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