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Old 09-27-2012, 12:27 PM   #1
PrettyP
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OMG! Minimum of 100 shares now required to join Shareholder's Club or to renew!!!!!

Did anyone else get an e-mail today from the Shareholder's Club saying you now must have a minimum of 100 shares to join the club or to renew your membership??

This is a quote from the document I received:

Membership criteria
The Shareholders Club is only for individual Euro Disney S.C.A. shareholders who own a minimum of 100 Euro Disney
S.C.A. shares (ISIN code: FR0010540740) in a bearer or in a registered form. The membership is free and valid for 2
years.
Members of the Shareholders Club who joined the Shareholders Club before October 1st, 2000 and who hold a valid
membership card are exempt from the membership criteria of holding a minimum of 100 Euro Disney S.C.A. shares. If
they hold a minimum of 5 Euro Disney S.C.A. shares, they can renew their membership as outlined below.
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Old 09-27-2012, 12:31 PM   #2
Jonjo
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100 shares required to join Shareholders club from 1st October

If your thinking of becoming a DLP shareholder then I sugest you join before the 1st October as you will need 100 shares to join or renew in future.

Members of the Shareholders Club who joined before October 1st, 2000 and who hold a valid membership card are exempt from the membership criteria of holding a minimum of 100 Euro Disney S.C.A. shares.

Quote:
Dear Shareholders Club Member,

To better meet the needs of the Shareholders Club Members and offer them a quality service and relevant information on the Company, the Shareholders Club is pleased to announce the implementation of the new « General Conditions of Euro Disney S.C.A. Shareholders Club » effective Monday, October 1st, 2012. We invite you to consult the attached document for additional information.

As of this date, any shareholder would like to become a member or to renew its membership to the Shareholders Club, has to hold a minimum of 100 Euro Disney S.C.A. shares (ISIN code: FR0010540740) in a bearer or a registered form. Members of the Shareholders Club who joined before October 1st, 2000 and who hold a valid membership card, are exempt from this minimum shareholding.

We invite you to consult the new « General Conditions of Euro Disney S.C.A. Shareholders Club » in the attached document.

Please note:
Regardless of the number of shares you hold, you will continue to benefit from the Shareholders Club discount and offers, upon presentation of a valid membership card.

You can then request a renewal of your membership, as outlined in the General Conditions of the Shareholders Club.
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Old 09-27-2012, 12:33 PM   #3
Donald D Duck
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Wow, just got the email myself. Not great news at all, although I find it partially understandable from a business perspective
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Old 09-27-2012, 12:37 PM   #4
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Reading the rest of the document it also says:

Loss of the Shareholders Club membership: termination - exclusion
• When members no longer meet the general conditions of the Shareholders Club, they must inform the Shareholders
Club as soon as possible. They then forfeit their Shareholders Club membership and cannot have access to the services
and benefit from the advantages attached to the membership. They must return their membership card to the
Shareholders Club as soon as possible.
• Any fraudulent or illegal use of the Shareholders Club membership card can lead to the permanent exclusion from the
Shareholders Club, without prior notice.


Does this mean that if you don't hold 100 shares after the 1st of October you must surrender your memebership??????? This is not good news.

Obviously Disney feel "no plebs allowed", "large shareholders only". I was planning to use my card in December
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Old 09-27-2012, 12:40 PM   #5
vas
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Cant believe that, have just renewed my card.
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Old 09-27-2012, 12:43 PM   #6
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Quote:
Originally Posted by PrettyP View Post
Does this mean that if you don't hold 100 shares after the 1st of October you must surrender your memebership??????? This is not good news.

Obviously Disney feel "no plebs allowed", "large shareholders only". I was planning to use my card in December
I think exisiting members are OK until it's time to renew as it says...

Quote:
As of this date, any shareholder would like to become a member or to renew its membership to the Shareholders Club, has to hold a minimum of 100 Euro Disney S.C.A. shares (ISIN code: FR0010540740) in a bearer or a registered form. Members of the Shareholders Club who joined before October 1st, 2000 and who hold a valid membership card, are exempt from this minimum shareholding.
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Old 09-27-2012, 12:50 PM   #7
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Just saw the email and thought I'd come on here as wondered how many posts there'd be already!!

Bit of a bummer. I joined in May but as we're saving for Florida 2014 there's little chance we'll put it to use again There's no way I'd pay for another 80 shares unless they we're ridiculously low, we don't go enough to make it worth it.

It was nice while it lasted!
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Old 09-27-2012, 12:51 PM   #8
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Jonjo that's what I thought until I read the entire document and it said

"When members no longer meet the general conditions of the Shareholders Club, they must inform the Shareholders
Club as soon as possible. They then forfeit their Shareholders Club membership"

This to me says that on Oct 1st the general conditions say you must have 100 shares therefore you "no longer meet the general conditions" and therefore you must forfeit your Shareholder's Club membership and it doesn't say you forfeit at renewal it says you must tell them as soon as possible and then you forfeit membership.

I will be e-mailing them to clarify
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Old 09-27-2012, 12:53 PM   #9
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Quote:
Originally Posted by PrettyP View Post
Jonjo that's what I thought until I read the entire document and it said

"When members no longer meet the general conditions of the Shareholders Club, they must inform the Shareholders
Club as soon as possible. They then forfeit their Shareholders Club membership"

This to me says that on Oct 1s the general conditions say you must have 100 shares therefore you "no longer meet the general conditions" and therefore you must forfeit your Shareholder's Club membership and it doesn't say you forfeit at renewal it says you must tell them as soon as possible and then you forfeit membership.

I will be e-mailing them to clarify
I also found it rather confusing, the general conditions appear to contradict the email which specifies

"Regardless of the number of shares you hold, you will continue to benefit from the Shareholders Club discount and offers, upon presentation of a valid membership card.
You can then request a renewal of your membership, as outlined in the General Conditions of the Shareholders Club"


Which means to me all current members in possession of a valid membership card will remain in the club until such a time as they need to renew their membership, at which time the new 100 share rule will be enforced.
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Old 09-27-2012, 12:58 PM   #10
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if that is the case then what happens to the shares you hold? I no longer want the 20 shares if they are of no use to me! I guess I'd have to sell them. Not sure what the current price is but with the recent increase I think I should get back what I paid and a bit more, but it depends on the brokerage etc. This could cause the share price to dip dramatically if lots of small shareholders start selling off their shares....

I wouldn't be buying 80 more shares, it really isn't worth it.

PrettyP - I don't think you'll get a quick response. I suspect there will be many people in this situation. I can't make any calls tomorrow but if anyone else is able to (it's a freephone no) and can clarify it would be appreciated.

I had a feeling something like this would happen - think it's all part and parcel of the new debt restructuring/sorting themselves out etc. I also think that before long the Shareholders Club will have very few perks sadly - I believe that the other parks have nothing similar!?
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Old 09-27-2012, 12:59 PM   #11
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Quote:
Originally Posted by DLPDreams View Post
if that is the case then what happens to the shares you hold? I no longer want the 20 shares if they are of no use to me! I guess I'd have to sell them. Not sure what the current price is but with the recent increase I think I should get back what I paid and a bit more, but it depends on the brokerage etc. This could cause the share price to dip dramatically if lots of small shareholders start selling off their shares....

I wouldn't be buying 80 more shares, it really isn't worth it.

PrettyP - I don't think you'll get a quick response. I suspect there will be many people in this situation. I can't make any calls tomorrow but if anyone else is able to (it's a freephone no) and can clarify it would be appreciated.

I had a feeling something like this would happen - think it's all part and parcel of the new debt restructuring/sorting themselves out etc. I also think that before long the Shareholders Club will have very few perks sadly - I believe that the other parks have nothing similar!?

They've gone back down from the high of a few weeks ago but are currently around 5.35 still.

There's another email now confirming the restructuring of debt so I think you're right, it's all part and parcel of that and I also agree that the perks will diminish eventually. I can't see it being worthwhile for anyone to hold that many shares unless you spend an absolute fortune there several times a year.
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Old 09-27-2012, 12:39 PM   #12
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Glad I renewed in July, I'll have to get around to buying another 80 shares between now and 2014.

So in future at todays share price it will cost 535 Euros or £425 to become a member.
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Old 09-27-2012, 12:55 PM   #13
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Just realised the cover e-mail says

"Regardless of the number of shares you hold, you will continue to benefit from the Shareholders Club discount and offers, upon presentation of a valid membership card."

but it does not say this in the attached document.

Sorry for all the confusion. Definitely e-mailing them to confirm
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Old 09-27-2012, 01:28 PM   #14
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Well, wish I had renewed my card sooner. It expires at end of October. Never mind we are going in a couple of weeks and looks like my card will still be valid, no further plans on the near horizon for another dlp trip after that and not buying another 80 shares!
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Old 09-27-2012, 01:47 PM   #15
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Carrie. They just look at them, never seen it swiped!!! If I cant use mine in October then I just won't be doing expensive meals and much shopping!
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