Annual Results for fiscal 2007 / Shares Reverse Spilt Announcement

[hildasmuriel]

FYI:

More details should be available from Selftrade via there online Message Centre (you need to logon).

Unfortunately on my messages there was nothing about any action I need to take, although there is obviously a problem as it is not showing my shares, just a message in red saying my holdings could not be shown at present.
This is all a bit of a nuisance - I only wanted the shares to get into Salon Mickey! I don't want to be involved in phone calls to share dealers and all that - I have no idea what any of it is about.

 

[Iain Chapman]

Yes, I know that feeling. Like you, don't really understand, and didn't want to have to really get this involved for this share business...anyhow...

The message I received was:

Dear

CORPORATE ACTION

The following corporate action has taken place on a security that you hold
within the Selftrade pooled nominee account.

Security: Euro Disney SCA Common Stock
Account Type: Dealing
Holdings: xxxx
Action Type: Consolidation
Action Date: 29/11/2007
Ratio: 01:00
Entitlement: xx

Terms: CONSOLIDATION Further to our message of 29 November 2007 concerning the proposed 1 for 100 Consolidation of Euro Disney shares we have now been made aware that share consolidations are not mandatory in France. Please confirm in writing by letter or secure message no later than 5.00pm on 25 January 2008 that you are in agreement for us to arrange for your shares to be consolidated.

Should you require additional information, please do not hesitate to contact our customer service centre on +44(0)845 0700 720.

It is recommended that the above information be printed for future reference.

Yours sincerely

Michael Wilson
Customer Services Manager

Regards

Iain

 

[hildasmuriel]

Thanks for that Iain. I will send them a message and hope that sorts it all out. Then I'll just bury my head in the sand again.

 

[tennisfan]

np.

As you may have guess my holding is with Selftrade.

My current holding is not a round number, and thus cannot be completely consolidated down. 60 shares would be left over.

Can anyone tell me what happens to these 60 shares, and whether I'm too late to purchase further shares in order to give me a better number of shares which could be consolidated (ie round number)

I've mail this question to Selftrade also - so as and when they reply I'll drop the response in case anyone else wishes to know.

Oh - (and I guess this perhaps also answers part of my own question) - you've under Janaury 11th 2008 to claim you €7 costs should have purchase further shares as part of consolidation - see -> http://corporate.disneylandparis.com/shareholders/share-consolidation/index.xhtml

Thanks

Iain

I think you have until June to top up the old shares to a round number or you will lose the odd amount. Obviously inorder to benefit from the 7 euro rebate it has to done before 11th Jan.

I just need to get the Swift code/BIC code from my bank as they have helped with the rest.

 

[Iain Chapman]

Well I called Selftrade this afternoon and the Customer Service person there told me that she THINKS that I cannot purchase any more shares at this time...

Won't be the first time I've been giving the wrong information from Selftrade (oh the fight I had with them when Eurodisney did a share offering at a fixed Euro price, and then Selftrade didn't do it at that price on my account....)

As above, I did send them the same question via there internal message system so I'll see what that comes back with as well.

Iain

 

[tennisfan]

Well I called Selftrade this afternoon and the Customer Service person there told me that she THINKS that I cannot purchase any more shares at this time...

Won't be the first time I've been giving the wrong information from Selftrade (oh the fight I had with them when Eurodisney did a share offering at a fixed Euro price, and then Selftrade didn't do it at that price on my account....)

As above, I did send them the same question via there internal message system so I'll see what that comes back with as well.

Iain

Did you receive the letter from caceis? they are the ones who deal with Disney Shares. That is who I am buying the rest of the old shares I need.

 

[liberty]

This is so confusing!.lol
I bought 5 shares at the new consolidation price, so that is still ok to join shareholders club?...i have emailed euro disney, but havn't had a reply yet.

 

[Iain Chapman]

Did you receive the letter from caceis? they are the ones who deal with Disney Shares. That is who I am buying the rest of the old shares I need.

I've not received anything from Caceis - are you shares purchased via Selftrade/Squaregain/Comdirect?.

 

[tennisfan]

I've not received anything from Caceis - are you shares purchased via Selftrade/Squaregain/Comdirect?.

I first purchased the shares through Barclays, several years ago & then when DLRP were restructuring the finances and only being sold on the French stock market we were offered a chance to buy more shares at a discounted price. Which I did, however I have a share certificate which may mean why I get info from Disney/Caceis and can purchase through them.

 

[Cyrano]

Which I did, however I have a share certificate which may mean why I get info from Disney/Caceis and can purchase through them.

That's it exactly
Those of us who purchased through Selftrade etc do not get share certificates and have to deal through Selftrade

 

[Iain Chapman]

Really just a bump to remind those who have shares via Selftrade (was Comdirect/Squaregain) that I THINK they still require your authorisation by 5pm on the 25th of January (ie this week) in order to consolidate your shares.

I say 'I THINK' as - and for the benefits of those who previously didn't recieve the messages - I tonight have received a new message from Selftrade which reads:

"Terms: CONSOLIDATION We advised you in December 2007 that Euro Disney shares were to be consolidated on a 1 for 100 basis and that consolidations are not mandatory in France. We have now received further information that if we do not arrange for your holding to be consolidated eventually you will be left with a security that does not trade on the main exchange, which will affect the value and tradability. In view of the above, shortly after 25 January 2008 we will arrange for you Euro Disney shares to be converted into the new shares."

Which suggest they no long need your authorisation, however I've sent authorisation to them regardless.

As for my 60 extra shares which cannot be consolidated - finally had an answer from Selftrade - they seem to be suggesting that these will be lost....although the person I spoke to also agreed with me that the terms set out by EDL say that I've until December 2009 in order to purchase or sell the fraction shares - so no clear answer really - I guess I'll fight that one after I see what they do.

Incidently - if you've not found it theres a complete FAQ on the subject on the new EDL Corporate site, see:

http://corporate.disneylandparis.com/shareholders/faq/index.xhtml

Regards

Iain

 

[tennisfan]

Really just a bump to remind those who have shares via Selftrade (was Comdirect/Squaregain) that I THINK they still require your authorisation by 5pm on the 25th of January (ie this week) in order to consolidate your shares.

I say 'I THINK' as - and for the benefits of those who previously didn't recieve the messages - I tonight have received a new message from Selftrade which reads:

"Terms: CONSOLIDATION We advised you in December 2007 that Euro Disney shares were to be consolidated on a 1 for 100 basis and that consolidations are not mandatory in France. We have now received further information that if we do not arrange for your holding to be consolidated eventually you will be left with a security that does not trade on the main exchange, which will affect the value and tradability. In view of the above, shortly after 25 January 2008 we will arrange for you Euro Disney shares to be converted into the new shares."

Which suggest they no long need your authorisation, however I've sent authorisation to them regardless.

As for my 60 extra shares which cannot be consolidated - finally had an answer from Selftrade - they seem to be suggesting that these will be lost....although the person I spoke to also agreed with me that the terms set out by EDL say that I've until December 2009 in order to purchase or sell the fraction shares - so no clear answer really - I guess I'll fight that one after I see what they do.

Incidently - if you've not found it theres a complete FAQ on the subject on the new EDL Corporate site, see:

http://corporate.disneylandparis.com/shareholders/faq/index.xhtml

Regards

Iain

I don't see how they can't add to your 60 extra shares to make it the round 100 if you want to I had an odd amount so have decided to purchase the extra 27 needed to make me have 10 new shares, rather then eventually lose the old ones.

Having said that I haven't heard anything back from Caceis about this, as they have said they will inform me of the cost before taking the money from my bank.