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[ed-uk]

Yes, you need a hundred shares to join the shareholders club now. And that also applies to members who joined the shareholders club after 2000 and want to renew their membership.

That's new to me. I received a letter from the Club stating that current members who want to renew their membership do not have to meet the current requirement of 100 shares.

If you let your membership expire, then you will need to meet the new requirement to become eligible for membership.

So for current members who do not own 100 shares but want to remain a member it is very important to renew their membership in time (at least 2 months before expiring).

" Members who joined the shareholders club before Oct. 1st 2000 and who hold a valid membership card are exempt from the membership criteria of holding 100 Euro Disney shares if they hold a minimum of 5 shares", I read in their rules. These new rules start from Oct. 1st 2012.

[captain rocket]

My interpretation of the email is the same as Ed-uk you will now need 100 shares for new membership and renewals from Monday. This will obviously affect a lot of people!

[Javey74]

I reported the exact above on the "The Walt Disney Co. to refinance debt with 1,3 billion euros" thread below>>

viewtopic.php?p=227719#p227719

I've just sent the following email to the Shareholders Club to try and get to the bottom of what is going on, showing a few grey areas and relevent questions which are not answered, either at all, or very clearly ..  :roll:

Dear Sir.Madam

On reading the latest shareholders press release saying "As of 1st October 2012, any shareholder who 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".

I have the following questions:-
 
1. My current membership is valid until June 2013 of which I have 30 shares. Am I still valid until then?

2. What is the reasoning for taking the exemption all the way back to October 2000 and not say 2010, or even to any member prior to 1st October 2012?
 
3. Also there is no mention of the previous "Admin Fee" which you could pay if you did not having enough shares to still become a member if need be, has this been abolished?

4. Also I know I'm not the only one thinking this, but why the sudden change with the shares required, which fell right after the Walt Disney Company restructuring of Euro Disney S.C.A financing?

I would like to state that the original 20 new shares (2000 old) to a new requirement of 100 new shares (10,000 old) is an unbelievably huge hike for the offers available in the Shareholders Club, especially for people like myself who live in the United Kingdom who cannot use the full extent of the benefits. The main benefit I get is the 15% off merchandise in the boutiques when visiting DLP and 10% off the Disney Stores in Europe.

I look forward to your reply..............

See what comes back..  :roll:

[Savorn]

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.

[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:

[ed-uk]

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.

[disney-john]

Is it worth buying shares just for the shareholders club? I'm quite happy with the discounts a dream pass gives, and can only really see Saloon Mickey as the difference. It would cost me nearly 500 GBP, to join, and then still have to pay for admission?  Unless I've read it wrong, which wouldn't be a first :-)

[britincgn]

Seems hard to me .
Been visiting DLP since day1 and only became a shareholder in 2004 and have under 100.
The only real perk is Salon Mickey ,which I usually only visit perhaps 4 times a year .
Wonder if its worth keeping the shares or just getting rid of them .

[ed-uk]

Is it worth buying shares just for the shareholders club? I'm quite happy with the discounts a dream pass gives, and can only really see Saloon Mickey as the difference. It would cost me nearly 500 GBP, to join, and then still have to pay for admission?  Unless I've read it wrong, which wouldn't be a first :-)

I'm sorry but you're asking the wrong question. What you should be asking yourself is do I want to invest my money with EuroDisney and become a shareholder and buy into the magic kingdom, that's what i did before the shareholders club opened.  If the answer is yes, and you buy a 100 shares or more,  you can join the shareholders club if you want. The shareholders club card does not pay  admission into the parks.

[disney-john]

Might be a good time to buy shares as an investment, I know they have gone up in price recently, but with the re-financing and the freedom that gives the company, could be the time the shares go up and shareholders get a dividend.

But I don't own a single share, so that me guessing, and whilst I understand you questioning my question, so to speak. I would be buying shares for the benefits shareholders club, and so can't see many extra benefit over having a dream pass

[ed-uk]

EuroDisney don't pay dividends, if that's what you mean ? Shares can go up and down in value. I'm guessing if you're happy with your Dream Pass just stick with that,

[disney-john]

Thanks ed-uk, but the point I was getting at, and you may be able to answer as you have shares, is there any other benefits of the shareholders club other than saloon Mickey over the dream pass benefits. As a frequent visitor, maybe be good option to be a member of the shareholders club and a dream pass holder? Thanks

[ed-uk]

Well I haven't got a Dream pass so I'm not sure what your benefits are and can't compare, I just use my Shareholders club card. Off the top of my head I think it was 15% of restaurants,10% off shops, reductions on hotel rooms and you can use the card in Disney Stores Europe. But now that they've changed the rules I'll have to check.

[smurfy74]

The Dream Pass gives you 20% off in the stores and 10% in restaurants and unlimited entry - so for me I would rather have unlimited entry to the parks as opposed to the entry to Salon Mickey. I cant really see any benefit of having both :-)

[ed-uk]

How much does a Dream pass cost a year?
The shareholders Club shouldn't be compared to an annual pass, it's a club. It's a Club for people who want to buy EuroDisney shares. And with it come some reductions and entry into Saloon Mickey.