Euro Disney SCA annual general shareholders meeting March 4

[DisneyAlba]

Hello everyone,

I have a question here for those of you who are shareholders and have attended a general meeting before.

As a pure registered shareholder, I have received my form by which I can either request my entrance pass or vote by mail. I haven't decided which of these to do yet, but I had better make up my mind this weekend in order for the form to be returned in time.

By coincidence I happen to be at the parks on March 4th with my family. So I could attend. However, I would feel bad about leaving my family if it would take up half of my day... So, question: how long do these events usually last?

Would you recommend going, or would you just vote by mail or proxy?


~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
BTW: Have the rest of you also noticed the giant error in resolution #12?! It asks to increase the total annual fee of the Supervisory Board, and I quote: "after having taken note of the increase of the number of the members of the Supervisory Board due to the appointment of a new member".
Well that appears as a load of bull to me. If you study the reference document carefully (pages 44 - 50), you'll see that in 2010 the Supervisory Board consisted of 9 members of which only 7 received a fee (the other 2 are TWDC members). Of these people, 7 will see their terms of office expire now (among which the 2 unpaid people). Only 5 of these (among which only 1 of the unpaid people ) hope to have their terms of office renewed. That leaves us with 2 empty places: 1 who used to receive a fee, and 1 who didnt (James Rasulo is apparently retiring from the board). Only 1 of these places will be filled up with a new, paid, member (resolution #11; Mrs Virginie Calmels).
So to recap: if all the votes are postitive, the Supervisory board 2011 will have 8 members, of which 7 will receive a fee. The same number of members to receive a fee as in 2010, and actually one less member in total. So what are they talking about, increasing the Board's annual salary with an amount that equals my entire yearly salary (for these people only pennies though), due to a supposed extra member?!

(TL;DR: vote NO for resolution #12.)

[andrewuk]

James Rasulo is apparently retiring from the board

 :thumbs:

[dejmurph1]

hi

I was at the meeting in 2009 and it lasted approx 2 hours. the length of meeting is often dependent on the number of questions that people have to ask, That said you are free to leave the metting at any time. So when the main part is complete you can leave at any time.

[DisneyAlba]

Thanks for that info. Two hours doesn't seem terribly long. I have therefore decided to attend the meeting.

I have also posed a written question to mister Gas regarding resolution #12, so he has to say something on the matter during the meeting.

Maybe I will see some of you forum members at the meeting?

Susanne Brown

[lil-shawn]

Just found this Video on youtube...

[youtube:28cxntoi]http://www.youtube.com/watch?v=3tIamCP_BZY&feature=player_embedded[/youtube:28cxntoi]

[DisneyAlba]

James Rasulo is apparently retiring from the board

 :thumbs:

Sorry, andrewuk, but I'm afraid I have to disappoint you... I received a personal phonecall prior to the meeting to answer my question in detail, and it turns out that there was a misprint in the 2010 reference document. The terms of office of Rasulo and Corbière did not end at this general meeting 2010, but will last until 2011 (at which point they will be voted to renew). I checked it in older documents, and indeed they were renewed for three years in 2008.

This means that no-one left the Supervisory Board this year, and indeed an extra member (Calmels) was added to the board this year. All resolutions were voted in favor of, including the increase in renumeration for the Board.

The meeting was fun to experience. No real news for us though. As seen in the video above, they only announced the return of Tarzan and the addition of McQueen to the stunt show. A lot was said on the Villages Nature project, including quite a bit of concept art. No mention of a World of Disney store whatsoever. The question was posed what was planned for the 20th celebration, but no direct answer was given. It was said multiple times that the realisation of new attractions was difficult because of mandatory lender approval. It was also said that any new attraction in the coming years would be for the Studios park, whereas in Disneyland park the focus would be on restoration. The only other interesting remark on attractions was the confirmation, apparently for the first time, by Mr. Gas that there is "a Ratatouille project in the pipeline".

[dagobert]

DisneyAlba, thanks for all the informations, although it is not really what I expected.

No new attractions for DLP in the coming years, that's really bad. I wonder if Star Tours II counts as an upgrade or as a completely new attraction. Since the focus is on WDS now, I hope there will come something better than TSPL in the next years.
At least Mr. Gas mentioned Ratatouille, so there is still hope that it will get built in the next years.

I still don't get it, why WoD store wasn't mentioned at all. Is WoDS an ED SCA project, or will it be run by TWDC's Parks and Resort that operates the US WoDS?

It seems Disney doesn't have control of its own company, since they need approval for everything from the lenders. Although I do understand that they want to be involved in decisions due to the debts of ED SCA, but this doesn't help the company at all. The resort needs new attractions.

[DisneyAlba]

Dagobert, I have no idea regarding the operation of the WoD store. I was hoping it would be mentioned, too.

And the lender approval probably has to do, like you said, with the debts that are still being paid off. It was said that the gaining of lender approval takes quite a bit of time (paperwork; getting people to answer...) which causes the final decision on, announcement of and therefore realisation of new projects to take longer.

At least they committed in words to restoring Disneyland Parc. In the Q&A session, someone rubbed their noses in the fact that the Pirate ship and the floor coverings between Studios, Parc and Village look absolutely aweful. I couldn't agree more.

[dagobert]

Dagobert, I have no idea regarding the operation of the WoD store. I was hoping it would be mentioned, too.

And the lender approval probably has to do, like you said, with the debts that are still being paid off. It was said that the gaining of lender approval takes quite a bit of time (paperwork; getting people to answer...) which causes the final decision on, announcement of and therefore realisation of new projects to take longer.

At least they committed in words to restoring Disneyland Parc. In the Q&A session, someone rubbed their noses in the fact that the Pirate ship and the floor coverings between Studios, Parc and Village look absolutely aweful. I couldn't agree more.

So there is a chance that this awful floor in front of WDS will also be refurbished. Did they mention what will be refurbished in DLP. Please refurb the geysers!! Did they mention what will happen with the castle stage and when the refurb of the pirate ship starts.
Did they also say something about the rumoured upgrading of PM and PotC or Star Tours II?

Sorry for all the questions!

[DisneyAlba]

So there is a chance that this awful floor in front of WDS will also be refurbished. Did they mention what will be refurbished in DLP. Please refurb the geysers!! Did they mention what will happen with the castle stage and when the refurb of the pirate ship starts.
Did they also say something about the rumoured upgrading of PM and PotC or Star Tours II?

Sorry for all the questions!

Sorry, no, they gave no details whatsoever on what would be refurbished and when exactly. No individual attractions were mentioned; just that they have plans for the coming years to "restore the park". I got the impression they don't like to be specific on anything.

[andrewuk]

James Rasulo is apparently retiring from the board

 :thumbs:

Sorry, andrewuk, but I'm afraid I have to disappoint you... I received a personal phonecall prior to the meeting to answer my question in detail, and it turns out that there was a misprint in the 2010 reference document. The terms of office of Rasulo and Corbière did not end at this general meeting 2010, but will last until 2011 (at which point they will be voted to renew). I checked it in older documents, and indeed they were renewed for three years in 2008.

 :cry: Not sure who can think that having him there helps.

Very interesting though, this seems to be the first of these meetings that have had some real questions asked and information on future developments given out