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-   -   Disney Stops Issuing Stock Certificates in Blow to Fans (http://www.disboards.com/showthread.php?t=3183711)

Rumors Rocks 10-09-2013 12:18 AM

Disney Stops Issuing Stock Certificates in Blow to Fans
 
Disney Stops Issuing Stock Certificates in Blow to Fans

http://www.bloomberg.com/news/2013-1...w-to-fans.html

http://images.businessweek.com/ss/06.../image/dis.jpg

Quote:

Walt Disney Co. will stop issuing stock certificates on Oct. 16, delivering shares only in electronic form in a blow to would-be collectors of the documents featuring drawings of Bambi and Mickey Mouse.

When investors transfer shares, they will be reissued without certificates, Disney said today in a regulatory filing. That will shrink the supply for websites pitching the items as a way to interest children in investing.

Collectors have made Disney certificates the most popular at GiveAShare.com, a Gilbert, Arizona-based company that provides the documents in a frame for a fee. While many companies have eliminated paper shares, Disney’s have stayed top sellers, said Bob Kerstein, founder of Scripophily.com, a website for collectors.

“It’s such a PR tool for them,” Kerstein said. “Disney was the major holdout. I’m pretty surprised. Everybody’s in cost-cutting mode.”

Disney’s stock certificates feature founder Walt Disney surrounded by Dumbo, Donald Duck and other characters, according to the website Oneshare.com, which also offers framed shares for a fee.

“Like hundreds of other companies, Disney will no longer be issuing paper stock certificates in an effort to create a more secure and efficient system,” the company said in a statement. Collectors may request non-negotiable “certificates of acquisition,” Disney said.

“It’s not the same as a stock certificate, but it’s nice that Disney is recognizing fans want something,” Kerstein said.

Collector’s Items

Certificates dating back to the company’s initial public stock offering and hand-signed by Disney can fetch more than $25,000, Kerstein said. Companies have been doing away with them for years because of the expense, he said.

GiveAShare’s favorites list includes Disney, Harley-Davidson Inc. (HOG) and Facebook Inc. (FB) Because Facebook issues its stock electronically, GiveAShare provides a personalized replica, according to the site.

Disney’s change is likely to spark a last-minute rush among collectors and higher prices for existing certificates, according to Rick Roman, a co-founder of GiveAShare.

“Since we started, Disney has been the most popular,” Roman said in an interview. “It appeals to kids, they have one of the best-looking certificates and there’s some fanatical adults that want them as well. That ends up being a good way to teach kids about stocks.”

Disney, based in Burbank, California, fell 0.9 percent to $64 at the close in New York. The stock has gained 29 percent this year.

mm1971 10-09-2013 11:06 AM

I'm glad we have ours already.

BuzzBelleMom 10-09-2013 11:32 AM

Need to get ours hung. Bummer we cannot get any more.

Crystal824 10-09-2013 12:21 PM

Bummer. I always get this for baptism gifts.

HippieChickadee 10-09-2013 12:39 PM

How can I turn some of my shares into Certificate form before this?!? Any suggestions? I logged onto the new broadridge site and cate find any place or form to get book shares turned into certificates!

KGK 10-09-2013 02:16 PM

One share.com. You can buy 1 share, in pristine condition, not folded or creased. Frames are great also.

CalvaryMike 10-09-2013 03:10 PM

Quote:

Originally Posted by KGK (Post 49784474)
One share.com. You can buy 1 share, in pristine condition, not folded or creased. Frames are great also.

They only offer replicas now:
"Disney will no longer issue stock certificates. Your registration will be held electronically and OneShare will issue a Disney replica certificate in lieu."

ethanwa 10-09-2013 03:37 PM

This makes no sense. At the Investor pavilion at the D23 Expo this year they were handing out surveys that asked what people would like to see on the next stock certificate that will be issued.

Oh well, I have mine.... I guess I'll hold on to it!

OldsDr 10-09-2013 04:37 PM

Quote:

Originally Posted by CalvaryMike (Post 49785019)
They only offer replicas now:
"Disney will no longer issue stock certificates. Your registration will be held electronically and OneShare will issue a Disney replica certificate in lieu."

You have 7 days

HippieChickadee 10-09-2013 05:26 PM

Quote:

Originally Posted by OldsDr (Post 49785917)
You have 7 days

How?? I already have stock in Disney but it's all book entries. How can I get some certificates from that?

saradela 10-09-2013 08:18 PM

OneShare
 
Quote:

Originally Posted by OldsDr (Post 49785917)
You have 7 days



OneShare told me it was impossible due to they take around 3 weeks to issue one....I bought it YESTERDAY, one day before the news!
Disney should at least give a month before dropping a bomb like this! :'(

mcd2745 10-09-2013 08:44 PM

Quote:

Originally Posted by HippieChickadee (Post 49783544)
How can I turn some of my shares into Certificate form before this?!? Any suggestions? I logged onto the new broadridge site and cate find any place or form to get book shares turned into certificates!

Quote:

Originally Posted by HippieChickadee (Post 49786263)
How?? I already have stock in Disney but it's all book entries. How can I get some certificates from that?




Is it held through a broker (in which case the shares are likely in "street name"), and you'd have to instruct your broker to transfer the shares into your name. Or, do you hold them directly in your name? In which case you should instruct the transfer agent, Broadridge, to have your shares changed to certificate form. The transfer agent is the one who issues the certs.

HippieChickadee 10-09-2013 08:49 PM

Quote:

Originally Posted by mcd2745 (Post 49787850)
Is it held through a broker (in which case the shares are likely in "street name"), and you'd have to instruct your broker to transfer the shares into your name. Or, do you hold them directly in your name? In which case you should instruct the transfer agent, Broadridge, to have your shares changed to certificate form. The transfer agent is the one who issues the certs.

I do the investment plan. I am pretty sure it's completely in my name (not like 401K plan or anything).

On my statements it says how many we have and then how many we have in book form (which is all of them) and how many we have in certificate form (which is none).

So I guess I should call them tomorrow and ask. I was hoping there was some easy/fast form to fill out and get taken care of before time is up :(

mcd2745 10-09-2013 09:03 PM

Quote:

Originally Posted by HippieChickadee (Post 49787907)
I do the investment plan. I am pretty sure it's completely in my name (not like 401K plan or anything).

On my statements it says how many we have and then how many we have in book form (which is all of them) and how many we have in certificate form (which is none).

So I guess I should call them tomorrow and ask. I was hoping there was some easy/fast form to fill out and get taken care of before time is up :(



For the investment plan, you most likely need to contact the plan's administrator - which is probably also Broadridge. Check your statement for contact info for the plan administrator.


ETA:

From recent SEC filing...

Quote:

Change of Agent
The Walt Disney Company appointed Broadridge Corporate Issuer Solutions, Inc., as its new Transfer Agent, Registrar, and Administrator of the Plan (the Agent), effective September 30, 2013. Broadridge Corporate Issuer Solutions, Inc., replaces The Walt Disney Company Shareholder Services as Agent of the Plan. As a result, all references in the Prospectus to Disney Shareholder Services or Administrator are changed to Broadridge Corporate Issuer Solutions, Inc. The Broadridge DTC FAST number is #50054.

HippieChickadee 10-09-2013 09:18 PM

Quote:

Originally Posted by mcd2745 (Post 49788050)
For the investment plan, you most likely need to contact the plan's administrator - which is probably also Broadridge. Check your statement for contact info for the plan administrator.


ETA:

From recent SEC filing...

Thank you! I'll update here when I know, if anyone is interested


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