NEW YORK: KCSA has scooped an account to provide IR support to American Stock Exchange-traded companies as part of a service the exchange offers its listed companies. AMEX executives described the account as valued in the "mid-six figures."
KCSA will take over the account for The Torrenzano Group, whose contract expires on June 1. The exchange sent out a formal RFP back in October, having made the decision to open up the contract for proposals before its expiration.
Seven firms responded, including the incumbent Torrenzano, according to AMEX executives. CEO Richard Torrenzano said that his firm continues to have a "very good" relationship with the AMEX.
In the final selection round, KCSA beat out runner-up Fleishman-Hillard.
The AMEX offers its IR Alliance product to its listed companies at no cost. Under the contract, KCSA will handle the nuts-and-bolts IR associated with the product. This will include such tasks as review and consultation on all forms of shareholder communication, including press releases, executive communications, investor presentations, companies' IR
websites, and scripts for investor conference calls.
KCSA will also coordinate investor and analyst meetings, and intends to develop educational papers and conferences to keep companies abreast of regulatory issues facing publicly traded companies.
KCSA will also set up a hotline phone in its New York office that AMEX companies can call directly.
The firm also said it would likely add some staff to help service the account.
AMEX is one of the nation's oldest exchanges, and claims nearly 800 listed companies. Nevertheless, the exchange has seen its image and market share erode in recent years as it has fallen behind its main rivals, the NYSE and Nasdaq.