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[disney-john]

Got my last dream pass for 159 euros.
And never stay on site so, looks like a dream is the one for me....
Thanks for the info

[Javey74]

After reading the new terms again carefully, I think Ed is right. A bit disappointing though to see them change the terms all of a sudden.

Yeah and considering the shares are well up in price at the moment, so even more expensive to increase your share amounts to the new allowance..  :roll:

I notice they did not decide the new share factor for the club when the shares were at a low a few months ago. I wonder if the decision was made now to increase Euro Disney S.C.A share revenue, punishing shareholders below 100 shares knowing the prices will only get higher at the moment and so cost those shareholders more, using the incentive of the shareholders club to make them buy.. I think so..  :x

I hope the above is partially or all incorrect, otherwise this amounts to extortion and blackmail..  :evil:

* I still have no info from my previous email I sent the shareholders Club. The email I sent prior got a 4 day reply, onto 6 days at present and still waiting..  :roll:

i can understand people are disappointed because they've changed the rules for the first time in seven years, which the company reserve the right to do. But if they had really wanted to punish shareholders they could have increased the allowance to 200 shares to join, or closed the shareholders club down.
Over the last few years people have been able to join very cheaply when the shares fell under 2 euros for example, and many people would have joined not because they wanted to invest with EuroDisney, which is the point of buying shares in a company, but because they wanted to go into Saloon Mickey and get reductions in shops and restaurants.
When I first joined I would have needed 1000 shares to get free membership and for shareholders with 1 - 999 shares they would of paid 100FF admin fee. There was no Saloon Mickey.
There is no extortion or blackmail involved in this because nobody is being forced to sign up. It's not called a Shareholders club for nothing, and in another 5-7 years time, or less, members may need 150-200 shares to renew.

I disagree, Why jump shares up 5 times or 500% the original requirement, just after the re-financing has happened. There are other companies I know got punished for doing things like this. Even Euro Disney S.C.A were called into question for share fixing for other purposes just a while back if you remember. As I stated in my email I only save 10% in the Disney Stores and 15% in the boutiques at DLP, and that is it nothing else, not even Salon Mickey! This being the case I wonder if it's about time they have different levels of entitlement in the Shareholders Club instead of just the one. This would make it more reasonable..  :|

As for your statement "There is no extortion or blackmail involved in this because nobody is being forced to sign up. It's not called a Shareholders club for nothing, and in another 5-7 years time, or less, members may need 150-200 shares to renew".

Again I disagree, I may have used harsh words but it can be construed that way.  It is because I as a buyer committed my money into the parks with the added bonus of the shareholders club, and now having them for 4 years are being punished to buy more or else GET OUT. If shops treated customers like this, they would be closed. If I had no shares at all, as of 1st October 2012, then yes, I would have to acknowledge the new requirements. But why are current members, well other than the ones before 1st October 2000, who are allowed to own just 5 shares, and still get entry to the Shareholders Club, have to pay more to remain in one fell swoop, in my case £303.94, and thats just for an extra 70, not including commission. If thats the case they may aswell take it back to 1992 and see how many more members it would cost and upset. There was not a mention of this in there positive email I was sent as it happened. Seems strange I'm still awaiting for my email reply, they're probably checking how they word things from a legal point of view, I hope I haven't ruffled their feathers or stated something I shouldn't have, bit too close to the truth..  :roll:

[ed-uk]

Your membership to the shareholders club is  for two years, and they are going to honour that so you can still use your card. And they couldn't take the new membership criteria back to 1992 because there was no shareholders club then.
Have you read the Modifications section in their rules.
Euro Disney SCA reserves the right to modify without prior notice the present general conditions and/or eligibility conditions and discounts proposed to the members of the shareholders club.
Euro Disney SCA also reserves the right to terminate shareholders club activities for any reason and at any moment.
In which case it commits to honour all reservations made up to and including the dates benefiting from a shareholders club discount.

Assuming you did read that, I don't know what point it is your' re making.

[Javey74]

Your membership to the shareholders club is  for two years, and they are going to honour that so you can still use your card. And they couldn't take the new membership criteria back to 1992 because there was no shareholders club then.
Have you read the Modifications section in their rules.
Euro Disney SCA reserves the right to modify without prior notice the present general conditions and/or eligibility conditions and discounts proposed to the members of the shareholders club.
Euro Disney SCA also reserves the right to terminate shareholders club activities for any reason and at any moment.
In which case it commits to honour all reservations made up to and including the dates benefiting from a shareholders club discount.

Assuming you did read that, I don't know what point it is your' re making.

I'm aware the Shareholders Club was established in 1995, I was using 1992 being flippant at the thought they may aswell of done if it had been possible, that would have encompassed every single possible member..  :|

Actually that second rule only states the termination of activities which is more to do with what they offer as part of the Shareholders Club, not the minimum share qualifications, that's financial. Also there's actually nothing there stating current members will be honoured if do not have 100 shares on or after 1st October 2012 until there membership expires.  That is why I've also added that question into my email to ED S.C.A for confirmation. Not everything in my opinion has been asked, answered and is very grey at times in my opinion..  :roll:

Then again if you have 100 shares or over, you don't need to worry anyway, I don't think Prince Alwaleed will batter an eyelid at that news somehow with his 10% investment back in 1994 with $345 million..  :roll:

[ed-uk]

It states at the end of the Modification section.
"in which case it commits (EuroDisney ) to honour all reservations made up to and incluing the dates benefiting from a shareholders club discount"
 It also states in the email you posted from EuroDisney: Regardless of the number of shares you hold, you will continue to benifit from the shareholders club discount and offers upon presentation of a valid membership card.

They can set the share qualification at whatever they like, otherwise we'd be doing it for them.

[Javey74]

It states at the end of the Modification section.
"in which case it commits (EuroDisney ) to honour all reservations made up to and incluing the dates benefiting from a shareholders club discount"
 It also states in the email you posted from EuroDisney: Regardless of the number of shares you hold, you will continue to benifit from the shareholders club discount and offers upon presentation of a valid membership card.

They can set the share qualification at whatever they like, otherwise we'd be doing it for them.

I did not read the first statement anywhere, I was looking all over for it, that was the reason for one of my questions, thanks for pointing it out. I was aware of the second, but it was the word VALID, given the new date that caused the worry. If they had put both statements on the reply email it would have made more sense..  :?

I still think 500% increases are too much of a hike for a 2 year reprieve..  :roll:

[Savorn]

Your membership to the shareholders club is  for two years, and they are going to honour that so you can still use your card. And they couldn't take the new membership criteria back to 1992 because there was no shareholders club then.
Have you read the Modifications section in their rules.
Euro Disney SCA reserves the right to modify without prior notice the present general conditions and/or eligibility conditions and discounts proposed to the members of the shareholders club.
Euro Disney SCA also reserves the right to terminate shareholders club activities for any reason and at any moment.
In which case it commits to honour all reservations made up to and including the dates benefiting from a shareholders club discount.

Assuming you did read that, I don't know what point it is your' re making.

They made it clear they changed this rule to make the club more exclusive as they wanted it to be in the first place. And when people from all over Europe bought shares to become a member of this club, they gotten frightened the club wouldn't be so "exclusive" anymore and only be used for it's discounts. If I want big discounts, I get myself a Dreams Pass.  :x

So, the reason of making the Club more exclusive, in my opinion, bullocks.  :evil:  They've seen this going on for years and years and only now, when they got new revenue from Disney, they more or less force you to buy more shares to be able to stay a member. I have to agree with Javey that this feels like extortion. I bought the shares to feel like I invested a little bit in Euro Disney. Right now, it would cost me around 400 euro (excluding trading fees) to get enough shares to extend my membership. Something that I can not currently afford. So sadly, at the end of my membership I will wave the Club a farewell.  :cry:

It would be more fair to allow all current members to extend their membership under current conditions. That is, besides courteous, showing your appreciation as a company to your investors.  =D>

[Javey74]

They made it clear they changed this rule to make the club more exclusive as they wanted it to be in the first place. And when people from all over Europe bought shares to become a member of this club, they gotten frightened the club wouldn't be so "exclusive" anymore and only be used for it's discounts. If I want big discounts, I get myself a Dreams Pass.  :x

So, the reason of making the Club more exclusive, in my opinion, bullocks.  :evil:  They've seen this going on for years and years and only now, when they got new revenue from Disney, they more or less force you to buy more shares to be able to stay a member. I have to agree with Javey that this feels like extortion. I bought the shares to feel like I invested a little bit in Euro Disney. Right now, it would cost me around 400 euro (excluding trading fees) to get enough shares to extend my membership. Something that I can not currently afford. So sadly, at the end of my membership I will wave the Club a farewell.  :cry:

It would be more fair to allow all current members to extend their membership under current conditions. That is, besides courteous, showing your appreciation as a company to your investors.  =D>

Well said Savorn, I totally know how you feel..  :thumbs:

[Javey74]

At last a reply....

Dear David,
 
As mentioned in our previous e-mail, we confirm you that the Shareholders Club has decided to change the General Conditions of the Shareholders Club, effective October 1st, 2012, to better meet the needs of its members and to offer them a quality service.
 
Indeed, this past couple of years, the Shareholders Club has noted a very strong increase of membership requests (there are as of today more than 5,500 members). This increase has driven negative remarks and a growing dissatisfaction among members of the Shareholders Club, regarding Salon Mickey or the services provided by the Shareholders Club representatives. This matter has also been discussed several times during round tables and shareholders meetings. This is one of the reasons why we took the decision to increase the minimum of shares required to be a member.
 
Please note that you remain a member of the Shareholders Club until your current card expires (30/06/2013). However, if you do not wish to renew your membership, you have the possibility to subscribe to our mailing list to receive only the financial information on Euro Disney S.C.A..
   
Feel free to contact us for any further information.

Yours sincerely,
 
 
Euro Disney S.C.A.
Shareholders Club

Errrmmm, bit lost here. Can I ask if anyone knows what the negative remarks and dissatisfaction was with Salon Mickey or the services provided by the Shareholders Club representatives..  :?: I never knew of any..  :?

Is it that people cannot access Salon Mickey as often through increased membership.. Never in the world..  :shock:
I've never used it yet..  :|

By reading this email it tends to focus on the main reason for the increase is to do with Salon Mickey, aswell as the services provided by the Shareholders Club representatives, whatever they are. Something so small causing an increase of qualifying shares to 500%..  :?  That's an expensive cup of coffee and a croissant..  :shock:

There has got to be more.. :-k

[never2old]

I read somewhere that people where calling the Shareholders Club for simple bookings (instead of the dedicated line), or other queries that were unrelated to the SC, so they had trouble handling proper requests, more related to the financial situation of the company.

And then there were the problems with the Salon Mickey, where people were sometimes being denied access because it was already too full, or going in to find all the food gone...

[Javey74]

I read somewhere that people where calling the Shareholders Club for simple bookings (instead of the dedicated line), or other queries that were unrelated to the SC, so they had trouble handling proper requests, more related to the financial situation of the company.

And then there were the problems with the Salon Mickey, where people were sometimes being denied access because it was already too full, or going in to find all the food gone...

Not sure the first part will improve, as for the second problem I can honestly say I have never ever witnessed. I've passed Salon Mickey a few times within the given opening times and never seen the door open or close. I must have been extremely unlucky the 8 times I've been never to have seen anybody in there..  :shock:

I wonder what the percentage break down of nationalities is of these 5,500 members and also how may of these 5,500 have under 100 Shares. This will answer the question of what they are trying to get it down to and other possible reasons behind it..  :|

As I said earlier I think it's about time the Shareholders Club had different levels of membership, even the D23 Official Disney Fan Club have two levels (Gold and Silver). I only ever use the 10% discount in the Disney Stores and 15% in the Boutiques when at DLP. Most of the benefits I never use, simply because I live in the UK. Surely that would warrant a bronze membership never mind a silver if this was possible.  :roll:

[never2old]

As I said earlier I think it's about time the Shareholders Club had different levels of membership, even the D23 Official Disney Fan Club have two levels (Gold and Silver). I only ever use the 10% discount in the Disney Stores and 15% in the Boutiques when at DLP. Most of the benefits I never use, simply because I live in the UK. Surely that would warrant a bronze membership never mind a silver if this was possible.  :roll:

Yes, different levels would be so much better!! I hardly use my card (don't even have a DIsney store in Luxembourg!), so it's really only when I go to DLP (and that hasn't happened much lately, hopefully from next year we'll be going more regularly again), and ocassionally when we go to the UK and they do have something worth buying in the Disney Store.

On our last visit we didn't even go to the Salon, so I can't say how busy it was... But like you, I've never had any problems. A couple of times they didn't have any food left, but within a few minutes of us getting a hot drink a fresh batch of cookies and croissants arrived, so no problems there.

Personally I don't know what we'll do. I renewed my card in July so I'm still good for a couple of years. I'm keeping an eye on the prices to see if they go down a bit and perhaps buy some more shares (we now have 30), and maybe over the next 2 years I can build my stock up to 100...

[Javey74]

Mmmm interesting, I notice you currently have the same as me, 30 Shares. I'm undecided at the moment with only having till next June. It's ironic when I think about it as I actually bought my first batch of 20 shares on Donald's Birthday, 9th June..  

Todays price to obtain another 70 shares including commission works out at £305.75 or in your case €363.84..  :shock:

[never2old]

Mmmm interesting, I notice you currently have the same as me, 30 Shares. I'm undecided at the moment with only having till next June. It's ironic when I think about it as I actually bought my first batch of 20 shares on Donald's Birthday, 9th June..  

Todays price to obtain another 70 shares including commission works out at £305.75 or in your case €363.84..  :shock:

Interesting! My 30 shares were a birthday present from my husband, and my birthday is on 9th June!!

[Javey74]

Mmmm interesting, I notice you currently have the same as me, 30 Shares. I'm undecided at the moment with only having till next June. It's ironic when I think about it as I actually bought my first batch of 20 shares on Donald's Birthday, 9th June..  

Todays price to obtain another 70 shares including commission works out at £305.75 or in your case €363.84..  :shock:

Interesting! My 30 shares were a birthday present from my husband, and my birthday is on 9th June!!

Well I'll always remember your birthday..    What is the chances of that happening again..