In 2008 the Sol Meliá Investor Relations Department carried out a number of activities focused on communication with company shareholders and potential investors. The most relevant actions focus on road shows in major European (Madrid, Paris, London, Milan, Amsterdam, The Hague and Brussels) and American (New York, Boston, Chicago, Philadelphia, San Diego and Toronto) cities, private visits to Spanish and international investors, and participation in seminars. One of the highlights was the Investors Day held at the ME Madrid on 28 February in which the Strategic Plan 2008-2010 was presented to 50 stock market analysts and institutional investors in attendance. The following day the Strategic Plan was presented to other financial institutions with a debt relation to Sol Meliá; attended by more than 80 people from 28 Spanish and international banks. All of these activities focused on increasing the transparency of Sol Meliá in capital and debt markets.
Also in 2008 visits were made to 82 institutional investors during 7 road shows organised by a wide range of financial institutions.
The road shows are used to inform the market on company performance and strategy and provide a vision of how events may affect results. Information is also provided on advances in distribution, research, development and innovation, the financial situation and the development of new hotels and new business units.
Each road show implies a greater degree of commitment to and involvement with investors, the main protagonists of our stock market performance, which is why the Investor Relations Department works intensively to improve the service and the information it provides to investors on each trip.
The road shows carried out in 2008 were:
In relation to the means by which minority shareholders may communicate recommendations or other matters to company management, all of the Sol Meliá S.A. shareholders owning 300 shares or more, have the right to attend the General Shareholders’ Meeting (Article 22 of Company Bylaws). The General Shareholders’ Meeting allows shareholders direct contact with the Board of Directors and provides them with a right to request information, clarification and/or ask questions. All shareholders authorised to attend may also be represented at the Meeting by another authorised shareholder.
The company has a Shareholder Service Department to attend to minority shareholders and also runs an Investors’ Club. The Investors’ Club provides shareholders with a direct line of communication with company management to ensure they are kept up to date with all company developments and regulatory notifications, and also provides an opportunity to make suggestions which may improve service.
This direct communications channel between shareholders and the company is provided through the website (http://inversores.solmelia.com), in which both current and historical financial information is available, through e-mail (firstname.lastname@example.org) and through a direct phone line (+34 971 22 45 54).
Every shareholder member of the Club is also given a card which in addition to providing mas points which can be exchanged for free stays in company hotels, also provides access to a series of benefits in company hotels. To join the Club shareholders can register through the website or by phone with the Loyalty Department: : 901 34 44 44 for “mas blue” shareholders with less than 1,000 shares, and 901 10 00 02 for masgold shareholders. In addition to registration, masgold shareholders must also provide a bank statement which proves that they have held their shares for a period of at least one year. This statement can then be sent by e-mail (email@example.com) or fax 971 22 44 98.
At the end of 2008, there were 179 masgold Shareholders and 1,176 mas blue Shareholders. Every month they receive an online newsletter, every two months a points account statement, and every three months an exclusive printed newsletter with special offers and benefits. Every year they also receive a newsletter with news on company performance in its different business units.
The Sol Meliá website at www.solmelia.com has a special section for shareholders available through the “About Sol Meliá” link in the Investor Relations section. The pages provide full and accessible information on finances and corporate governance in a simple, accessible format. The section is in full compliance with the directives on transparency in financial information issued by the Spanish Stock Exchange Commission.
The section contains updated information on quarterly results, issues of securities, regulatory notifications, financial news, share price, and information from the General Shareholders Meeting, Board of Directors meeting, as well as information on the Investors Club in a section specially designed for members.
The Sol Meliá Investor Relations Department is always available to shareholders to guarantee the availability at all times of the most accurate market information and are always open to constructive suggestions on how they may provide better service.