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Euro Disney S.C.A. (EDL) Shares

Author Topic: Euro Disney S.C.A. (EDL) Shares  (Read 205797 times)

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Re: Euro Disney S.C.A. (EDL) Shares
« Reply #690 on: April 11, 2017, 09:44:33 AM »
So are we supposed to sell our shares now or wait till we receive formal notification? I havent heard anything from Halifax. When they changed it some years back they got in contact but nothing as yet. Any ideas?
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Re: Euro Disney S.C.A. (EDL) Shares
« Reply #691 on: April 19, 2017, 09:48:46 PM »
I believe it said we'll be contacted through agent companies.  Possible delay now though due to CIAM statement on unfair share offer price.

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A&S&O

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Re: Euro Disney S.C.A. (EDL) Shares
« Reply #692 on: April 26, 2017, 02:52:41 PM »
Salon Mickey is reporting that the takeover has been approved.

Correct me if I'm wrong -

If we sell now on the stockmarket , we get the current price of €2.00, but will pay brokerage fees.

I understand that we will be contacted about the takeover, with TWDC offering to buy at €2.00 and they will bear the cost of fees?

What happens if we refuse to sell, but they get the required %age of shares to force a takeover?
Will we still get €2.00? Will we get nothing? Will we get whatever they decide to give us?
Planning WDW 2019
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norhel

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Re: Euro Disney S.C.A. (EDL) Shares
« Reply #693 on: April 26, 2017, 04:44:59 PM »
Salon Mickey is reporting that the takeover has been approved.

Correct me if I'm wrong -

If we sell now on the stockmarket , we get the current price of €2.00, but will pay brokerage fees.

I understand that we will be contacted about the takeover, with TWDC offering to buy at €2.00 and they will bear the cost of fees?

What happens if we refuse to sell, but they get the required %age of shares to force a takeover?
Will we still get €2.00? Will we get nothing? Will we get whatever they decide to give us?

What I believe is gonna happen is that you gonna get a notice from your brooker, with the offer. And if you accept the offer, I "think" you shouldn't pay any fees. But I also assume that depends on the broker.

There hasn't been any word on what would happen if the offer isn't accepted, but I suspect that those still holding shares will be in a less good position. And if TWDC get the 95% and is buying out the rest, they could give the same, better or worse price.
« Last Edit: April 26, 2017, 04:48:54 PM by norhel »
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Re: Euro Disney S.C.A. (EDL) Shares
« Reply #694 on: April 26, 2017, 10:11:23 PM »
Just spotted this in http://timon.disneylandparis.com/corporate/en-2017-03-30-draft-offer-document-ed-sca.pdf -

The amount of the compensation, which will be equal to the Offer Price, will be paid to a blocked account opened for this purpose with BNP Paribas Securities Services designated as centralizing agent for the purpose of the
compensation operations in connection with the Mandatory Buy-Out and Delisting.


Which to me suggests that if you don't decide to sell, but TWDC takes over anyway, you will still get the €2.00 originally offered.
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norhel

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Re: Euro Disney S.C.A. (EDL) Shares
« Reply #695 on: May 03, 2017, 03:59:05 PM »
So, what are peoples though about selling their shares?
For me it would probably be a sell.
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jj554

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Re: Euro Disney S.C.A. (EDL) Shares
« Reply #696 on: May 03, 2017, 05:32:41 PM »
So, what are peoples though about selling their shares?
For me it would probably be a sell.

I already sold mine about 6 weeks ago as it seemed like a good idea.... however am hoping that they will still have me down as a member of "The Club" for the purposes of the ten year extension I saw discussed, as my card doesn't officially expire until end July.

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Re: Euro Disney S.C.A. (EDL) Shares
« Reply #697 on: May 03, 2017, 05:35:37 PM »
I already sold mine about 6 weeks ago as it seemed like a good idea.... however am hoping that they will still have me down as a member of "The Club" for the purposes of the ten year extension I saw discussed, as my card doesn't officially expire until end July.

I don't see how they would know you are no longer a shareholder.
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A&S&O

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Re: Euro Disney S.C.A. (EDL) Shares
« Reply #698 on: May 03, 2017, 05:44:29 PM »
So, what are peoples though about selling their shares?
For me it would probably be a sell.
If you sell now, on the stockmarket, you will get the current rate for the shares (currently 2 euros per share), but you will pay brokerage fees.

Assuming that TWDC get permission to take over, you will be offered 2 euros per share and may avoid brokerage fees.

If you turn down their offer, they are likely to take over any way. What you get for your shares at that point is anyone's guess, although there is an indication that you will still get 2 euros.

I think its generally accepted that the takeover will take place. If there are any difficulties, TWDC may increase their offer, but only significant shareholders could cause this.

I seem to remember reading, quite some time ago, that when DLP was created, the French government insisted that it was owned by a French company. I suppose that that will still be the case, except TWDC will own the French company that owns DLP.
Planning WDW 2019
1997 DLP x2, 1998 DLP x2, 1999 DLP, 2000 DLP Millenium, 2002 DLP, 2003 DLR, 2004 WDW + DLP, 2005 DLP + DLR, 2006 WDW, 2007 DLP x2, 2008 WDW + DLP x3, 2009 DLP x7, 2010 WDW (+ extra week due to ash cloud!), 2011 DLR, 2012 WDW + DLP, 2013 WDW + DLP, 2014 WDW + DLPx3 (inc. daytrip for Ratatouille preview), 2015 DLR + DLPx3, 2016 WDW + DLP, 2017 WDW x2 + DLP, 2018 WDW + DLP x2. Coming up - ?

norhel

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Re: Euro Disney S.C.A. (EDL) Shares
« Reply #699 on: May 03, 2017, 06:03:03 PM »
So, what are peoples though about selling their shares?
For me it would probably be a sell.
If you sell now, on the stockmarket, you will get the current rate for the shares (currently 2 euros per share), but you will pay brokerage fees.

Assuming that TWDC get permission to take over, you will be offered 2 euros per share and may avoid brokerage fees.

If you turn down their offer, they are likely to take over any way. What you get for your shares at that point is anyone's guess, although there is an indication that you will still get 2 euros.

I think its generally accepted that the takeover will take place. If there are any difficulties, TWDC may increase their offer, but only significant shareholders could cause this.

This is my thoughts as well. I actually got a notice from my broker yesterday with the purchase offer from DLP.
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Re: Euro Disney S.C.A. (EDL) Shares
« Reply #700 on: May 03, 2017, 08:00:45 PM »
Nothing from Halifax yet.
1992 Honeymoon DH
1994 Oct DH, 1996 Jan DH, 1998 Oct DH, 2000 Oct DCR, 2002 Jan SL....too many babies so a big break...2010 Mar SF, 2011 Mar SF, 2013 Jan Kyriad, 2013 Apr Gite, 2013 Oct Gite + 2nts DC, 2014 New Year/Jan SF, 2015 New Year/Jan SF, 2015 Oct Gite, 2016 Jan Gite, 2016 Easter Kyriad, 2016 June Explorers, 2016/7 NY Dream Castle and Gite, 2017 Feb Cheyenne , 2017 May Dream Castle,  2017/8 NY/Jan Gite, 2018 Feb Dream Castle Hotel, 2018 Nov Dream Castle, 2019 Feb Santa Fe.

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Re: Euro Disney S.C.A. (EDL) Shares
« Reply #701 on: May 09, 2017, 01:02:52 PM »
So can Anyone say when this is supposed to happen? I'm not a shareholder but really do hope twice takes full control and dlp realize it's full potential.
Obviously make sure the shareholders are logged after first.

Caz

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Re: Euro Disney S.C.A. (EDL) Shares
« Reply #702 on: May 10, 2017, 07:08:56 PM »
I've just been trying to find out from Halifax via online chat, what I'm supposed to do in order to take up the offer

Quote
 Me: Hi, I wish to take up the offer by EDL et al, for my holding of EDR shares. The draft offer mentions a semi-centralized procedure (where by there is reimbursement of fees and protection in case of adjustments to the offer price) - is this something I will be able to do?
Beverley: There are no recent events for this stock, the last one we notified you of was in December 2015
Beverley: The department will need to receive the information from the company themselves before notifying you of the event."

It looks like the Halifax know nothing.

I also contacted Societé Generale Securities Services, Paris, where I have further shares who replied:
Quote
"We inform you that as of today we did not received the instructions regarding this matter.
As soon as we obtain the procedure, you will be inform"

I am now replying back to the shareholder club email of 30/3 'Announcement: draft simplified cash tender offer' asking how we take up the offer.

Update - have just received the latest email from Shareholder club and looks like the offer dates have changed - now expiring 8th June (was 23rd May). Am going back to them anyway to find out if Halifax and the like will now be informed.  ::)

PS As much as I like owning a little bit of the House of Mouse, I won't be sorry to see the back of all this malarky!
« Last Edit: May 10, 2017, 07:13:56 PM by Caz »
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samuelvictor

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Re: Euro Disney S.C.A. (EDL) Shares
« Reply #703 on: May 11, 2017, 09:57:32 AM »
Yeah, its note been agreed on and accepted by all the right authorities yet. Things like this are complicated with French law, they like companies to have some public ownership and accountability and won't like the idea of an American company owning 100%.

Once (if) the proposal is accepted, then we'll be contacted by the company that we registered our shares with. It is a legal obligation of them to contact you, and to do everything reasonable to see that you read the message.

Personally, I'm hoping that the plan is not accepted. I like being a shareholder. Disney Corp already own a large enough percentage to invest in the parks etc. Having a modicum of public control as well just holds everyone accountable, and allows fans to feel like they own a part of the parks. And its in everyone's interest for the parks to do well, if we support the parks, they will succeed, and the values of our shares go up :) Its a win win. It'll be a shame if this goes through, in my opinion.

Not to mention the fact that the forced buyout fee is way lower than what I originally paid, so they are essentially forcing me to lose money beyond my wishes. I'm sure if I held on to them, they would eventually go up in value back to what I originally paid, and beyond. Selling them now would be unwise for me, so why should they be able to force me to do it?

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Re: Euro Disney S.C.A. (EDL) Shares
« Reply #704 on: May 11, 2017, 10:53:11 AM »
Yeah, its note been agreed on and accepted by all the right authorities yet. Things like this are complicated with French law, they like companies to have some public ownership and accountability and won't like the idea of an American company owning 100%.

Once (if) the proposal is accepted, then we'll be contacted by the company that we registered our shares with. It is a legal obligation of them to contact you, and to do everything reasonable to see that you read the message.

Personally, I'm hoping that the plan is not accepted. I like being a shareholder. Disney Corp already own a large enough percentage to invest in the parks etc. Having a modicum of public control as well just holds everyone accountable, and allows fans to feel like they own a part of the parks. And its in everyone's interest for the parks to do well, if we support the parks, they will succeed, and the values of our shares go up :) Its a win win. It'll be a shame if this goes through, in my opinion.

Not to mention the fact that the forced buyout fee is way lower than what I originally paid, so they are essentially forcing me to lose money beyond my wishes. I'm sure if I held on to them, they would eventually go up in value back to what I originally paid, and beyond. Selling them now would be unwise for me, so why should they be able to force me to do it?

I too have wondered about the French allowing ownership by a "foreign country". Are they getting around that by DLP being owned by a French company, that is owned by a French company, that is owned by TWDC?

There is also the dispute (or two?) about the valuation of DLP / Marne la Vallee that is ongoing. It has been dismissed by TWDC, but it is, as far as I know, ongoing.

Whilst I agree with most of your post, I think "Having a modicum of public control" is a bit strong. Minor shareholders have no control / say whatsoever - unfortunately.
I like being a shareholder too, but am torn between remaining a shareholder (for selfish reasons) and having TWDC takeover and invest.

I think most people who took up that last offer to buy shares at €1 will be in profit with the offer to sell for €2.

Planning WDW 2019
1997 DLP x2, 1998 DLP x2, 1999 DLP, 2000 DLP Millenium, 2002 DLP, 2003 DLR, 2004 WDW + DLP, 2005 DLP + DLR, 2006 WDW, 2007 DLP x2, 2008 WDW + DLP x3, 2009 DLP x7, 2010 WDW (+ extra week due to ash cloud!), 2011 DLR, 2012 WDW + DLP, 2013 WDW + DLP, 2014 WDW + DLPx3 (inc. daytrip for Ratatouille preview), 2015 DLR + DLPx3, 2016 WDW + DLP, 2017 WDW x2 + DLP, 2018 WDW + DLP x2. Coming up - ?

 

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