APPAED, the Association of Small Euro Disney Shareholders has announced today, that at its General Meeting, the association decided to vote against the TWDC Recapitalization proposal that has been presented by Euro Disney S.C.A.
The association has said “This project is not in favor of Small Shareholders who will be diluted or will have to spend a lot of money to keep the same percentage of their Capital”.
They continue “It is not possible infinitely to ask to Small Shareholders to give money without any compensation except the satisfaction to know that Euro Disney will have the money to prepare the 25th Anniversary”, “Avoid drastic reforms in the management and/or the structure of the company”.
They are advising their members to vote No to resolutions 1, 2, 3, 11, 12, 13 and 14. And to either vote No or Abstain on resolutions 4, 5, 6, 7, 8, 9, 10, 15.
This decision by APPEAD may not prevent the recapitalization project being approved as the association does not have the majority of the votes. But it is a way for the association and their members to express dissatisfaction with the proposal.
The Euro Disney S.C.A. AGM will be held on 13th January 2015 at Palais des Congrès, Paris. More information about APPAED can be found on their website.