Kinship Digital ASX GN8 Compliance Monitoring Social Media Examples Crown Newcrest

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These examples complement the blog post 3 WAYS COMPLIANCE MONITORING DIFFERS FROM MARKETING SOCIAL MEDIA MONITORING Tuesday, June 25, 2013 . posted by Walter Adamson at http://www.kinshipdigital.com/_blog/Blog/post/how-compliance-monitoring-is-different-to-marketing-social-media-monitoring/

Since Australia Security Exchange (ASX) Guidance Note 8 on compliance monitoring for social media came into effect it has been a hot topic among lawyers, Company Secretaries and social media monitoring companies. Most recently Kevin Lewis of the ASX accused social media monitoring companies of "over-complicating new monitoring guidelines in order to win business from companies unsure of their new responsibilities". So what is the confusion about and how does social media monitoring for compliance differ to social media monitoring for marketing?

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Kinship Digital ASX GN8 Compliance Monitoring Social Media Examples Crown Newcrest

  1. 1. ASX GN8 Social Media Monitoring Examples and discussion with ASX 10 July2013 Walter Adamson walter@kinshipdigital.com
  2. 2. Context These examples complement the blog post: 3 WAYS COMPLIANCE MONITORING DIFFERS FROM MARKETING SOCIAL MEDIA MONITORING Click or go to www.kinshipdigital.com see Blogs We give two examples of social media monitoring for ASX listing compliance as per GN8 requirements 2
  3. 3. Re ASX & Who’s talking “GN8” 3
  4. 4. Objective • How to monitor information relevant to ASX GN8 • Analyze these results to remove reports which are repeats of known media coverage. • Demonstrate how system would work on a continuous basis. Two examples – Crown Ltd, Newcrest Ltd 4
  5. 5. Contents Crown Ltd Example Newcrest Example Slide 8: Findings Week 9 -1 5 June 2013 Slide 17: Evidence of Private Briefing? Slide 9: 3 Month Search Slide 18: STOXX Deletion June 4 Slide 10: Methodology Step 1 Relevance Slides 19-20: Blogs Long on NCM June 2,3 Slide 11: Methodology Step 2 Eliminate Slides 21-22: Brokers Short on NCM 4,5 Slide 13: Methodology Step 2 Report Slide 24: Conclusion Slide 26: About KINSHIP Digital 5
  6. 6. 6 Crown Ltd June 9-15, 2013 Social Monitoring and Activity
  7. 7. The strength of our method is that we eliminate social media noise which duplicates what is publically known. 7
  8. 8. Social Media Activity “No News is Positive News” 8 Period 9-15 June 2013, Globally, All Languages: Query: "crown limited" OR "crown ltd" OR "crown sydney" OR "barangaroo" OR "echo entertainment shareholding"~100 OR "crown brisbane casino"~100 OR "crown sri lanka"~100 OR "crown perth hotel development"~100 OR ("james packer" AND "melco") OR ("james packer" AND "crown") OR "rowen craigie" OR "rowan craigie" OR "ken barton" OR "todd nisbet" OR ("melco crown entertainment limited" AND ("philippines casino" OR "japan casino" OR "taiwan casino")) OR ("mpel" AND ("philippines casino" OR "japan casino" OR "taiwan casino")) Although 475 mentions NONE were unique. All referred to News or other public sources.
  9. 9. Expand Range to Past 3 Months Still no unreported news • "crown limited” OR “crown ltd” • = 2295 (news=1824) • "crown sydney“ • = 693 (news=434) • "barangaroo" • = 9014 (news=5247) • "echo entertainment shareholding"~100 • = 370 (news=364) • "crown brisbane casino"~100 • = 307 (news=227) • "james packer" AND "melco" • = 221 (news=171) Nearly 13,000 mentions 9 "rowen craigie" OR "rowan craigie" • = 416 (news=414) "ken barton" • = 33 (news=11) "todd nisbet" • = 44 (news=28) "melco crown entertainment limited" AND ("philippines casino" OR "japan casino" OR "taiwan casino") • = 61 (news=55) "mpel" AND ("philippines casino" OR "japan casino" OR "taiwan casino") • = 90 (news=67) "crown sri lanka"~100 • = 1024 (news=423) "crown perth hotel development"~100 • = 49 (news=38)
  10. 10. Overall Methodology – Step 1 Relevance Our process has Headline Topics For example: • Leadership Changes • Acquisitions • Underperforming • Overperforming • Litigation etc. Each Headline Topic has subsets: For example: • Resignation • Succession • Acquire • Acceptance • Layoffs • Redundancy • Litigants • Hacked • Outlook etc. 10
  11. 11. Overall Methodology – Step 2 Eliminate 1. Review earliest Press date 2. Eliminate all references to Press material 3. Continue search day by day for earlier social media information 11
  12. 12. Overall Methodology – Step 2 Example 1. thetradingreport.com - blog 2. Check contents – refers to analysts reports - eliminate 3. Note: confirm that this blog should or should not be added to monitoring list 12
  13. 13. Overall Methodology – Step 3 Report For example: 1. Is this information relevant to forward earnings? 2. Should this blog be added to regular monitoring list? 13
  14. 14. Extending the basic research – Step 4 We can extend the relevant search capture 14 From 38 to 587 mentions
  15. 15. Even with extended searching we found no novel data in social media, for the defined period. In operation we would monitor on a daily basis, could be 24X7 if required. 15
  16. 16. 16 Newcrest Issue Evidence of a Private Briefing? Issue: 1. Newcrest announced write-downs June 7 2. Announcement preceded by raft of broker downgrades 3. Was there a leak to brokers before official announcement?
  17. 17. Question: Evidence of prior closed briefing? We found no evidence – no leaks – in social media which indicated that brokers had received a briefing from Newcrest prior to the public announcement. This could mean several things: 1. The brokers were not briefed ahead of the public announcement; 2. They were briefed but nothing appeared in social media; 3. There was evidence in social media that we missed; 4. Queries and keywords may need strengthening; and 5. Some sources (blogs, forums and news sites) may need to be added to the system in order to ensure wider coverage. However we did find some points worth noting in terms of monitoring social media for ASX GN8-related information. 17
  18. 18. Stoxx Deletes NCM 3 June 2013 18 STOXX deleted NCM from its APAC 5 Index on 3 June. Downgrade was on 7 June. Brokers did not downgrade until June 4. Why?
  19. 19. Newcrest Trading Long Market Upbeat June 2 19
  20. 20. Newcrest Trading Long Investor Blogs Upbeat June 3 20
  21. 21. UBS Downgrade 4 June 21 Does Newcrest need to monitor this source in future?
  22. 22. Wide Broker Downgrade 5 June But we found no evidence in social media of broker briefing. Monitoring can capture these events in real time. 22
  23. 23. 23 Conclusion
  24. 24. Social media monitoring effective Social media monitoring is effective for GN8 compliance, but also requires continuous tuning through liaison with company staff to keep up with issues and events which may be important. Duplicate data can be removed – as shown. However, this is an inexact science and things can be missed. We would expect to work with clients to: • Ensure that we do not eliminate data which may be of interest • Ensure that we monitor all social sites, blogs, forums relevant to companies and their GN8 listing compliance. 24
  25. 25. 25 About Kinship Digital
  26. 26. KINSHIP digital is a social consultancy that specialises in understanding, developing and protecting its clients’ reputation, brands, businesses and people in Social Media. Related reading: • Learn How to Manage your Brand and Reputation Risk • Auditing Social Media • Governance Framework for Social Media Audits • 6-Step Social Media Audit Plan – for Internal Auditors • How Social Media enables Brand Resilience • Brand Resilience 2 – Social Strategy and Brand Breadth • Top 10 CEO Implications of Social Media • Social Media Monitoring – 5 tips on how to gain insights We don’t deliver you social media, we deliver business outcomes enhanced by effective social media investments aligned to your key use cases. This incorporates social strategy, reporting, and governance including audit and assurance. Learn more by contacting: Raz Chorev raz@kinshipdigital.com +61 410 660 107 (Sydney) or Walter Adamson walt@kinshipdigital.com +61 403 345 632 (Melbourne) 26

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