Official press release:
Quote(Marne-la-Vallée, April 2, 2009) Euro Disney S.C.A. (the "Company"), parent company of Euro Disney Associés S.C.A., operator of Disneyland® Resort Paris, announced today the signature of a liquidity contract with Oddo Corporate Finance, an investment services provider, in accordance with the authorization granted to the Gérant by the shareholders at the annual general meeting of the Company on February 11, 2009.
This agreement will become effective on April 6, 2009 and is compliant with the governance standards established on September 23, 2008 by the French association of financial markets (Association française des marchés financiers) and approved by the French stock exchange authority (Autorité des marchés financiers) on October 1, 2008.
This liquidity contract will expire on March 31, 2010.
Under the terms of this contract, the Company allotted the following to the liquidity account:
- € 500,000 in cash
- 135,081 Company shares.
En Anglais?
(I think that means in English)
sounds more or less like a finance firm taken a share-holding into Euro Disney
Quote from: "bigrossco"sounds more or less like a finance firm taken a share-holding into Euro Disney
I first thought something like that but I always associated liquidation with financial trouble and this is a
liquidity contract.
Its only for a little over a year and 500, 000 Euros isn't a lot of money. A euro increase on a hotel room would raise the same amount cash in a few months.
It sounds a bit bizarre to me.
Just as you've mentioned above, surely they can raise that sort of cash other ways.
True it could be a company buying shares, but a 2010 contract? Surely shares are indefinate.
half a million isn't really a lot considering that there had been some good official Disney Co. hand outs.
I'm sure more info will follow.
A liquidity contract is a legal requirement.
Every French company must be able to prove that it has the necessary funds to trade.
There is nothing ominous or of concern about this report.
Indeed, it happens every 2 years.