Anti Dilution Mechanism to launch 12 October 2015

Logo_Euro_Disney_SCAThe Euro Disney S.C.A. Shareholders Club wrote to shareholders  yesterday to remind them of the commencement of the anti dilution mechanism part of the recapitalization plan which is scheduled to start on the 12 October 2015 and will last until 10 November 2015.

The anti dilution mechanism alows shareholders to purchase additional shares from Euro Disney at 1.25 per share prorata of what they owned on 20 February 2015.

The AMF annouced yesterday that The Walt Disney Company now own 82.15% of Euro Disney S.C.A.  with a holding of 643,497,755 shares held  via it’s three subsidiary companies EDL Holding Company, EDI SAS and EDLC SAS.

Here is a breakdown of the holding by TWDC:

EDL Holding Company – 31.90% – 249,897,755 shares
EDI SAS – 25,12% – 196,800,000 shares
EDLC SAS – 25,12% – 196,800,000 shares

The below is not for publication, release or distribution directly or indirectly in the United States of America, Canada, Australia or Japan.


Euro Disney S.C.A. reminds its shareholders of the possibility to exercise, under certain conditions, a right to acquire Euro Disney S.C.A.’s shares, following the mandatory simplified tender offer, within the framework of the recapitalization plan.

Following the completion of the Offer, and as the final step in the implementation of the Euro Disney S.C.A. group’s recapitalization plan as announced on October 6, 2014, shareholders having the status of Eligible Shareholders (as defined below) have now the possibility to exercise their rights to acquire Company’s shares (the “RAS”).

The “Eligible Shareholders” are the individuals or legal entities (other than EDL Holding, EDI S.A.S. and EDLC S.A.S.) having the status of  being a Company shareholder at each of the three following dates:

(i)    on January 16, 2015, i.e., on the last trading day preceding the opening of the subscription period of the capital increase with shareholders’ preferential subscription right maintained implemented during the first quarter of 2015 (the “Rights Offering”);

(ii)    on February 20, 2015, i.e., on the date of settlement and delivery of the Rights Offering; and

(iii)    on October 2, 2015, i.e., the day following the date of settlement and delivery of the Offer (on the positions on October 1, 2015 in the evening observable on October 2, 2015 in the morning).

  • As further described below, the number of RAS that will be granted to each Eligible Shareholder will be pro rata to its shareholding in the Company’s share capital.
  • The information regarding both the allocation and the exercise of the RAS will be provided to each Eligible Shareholder by its authorized financial intermediary.
  • For further information concerning the terms and conditions of both the allocation and the exercise of the RAS, please refer to the press release published today and available on the Company’s website: http://timon.disneylandparis.com/corporate/en (section: related documents)
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Disneyland Paris to open souvenir store at Paris Charles de Gaulle Airport.

 
Disneyland Paris will be opening a souvenir store at Paris Charles de Gaulle Airport next month.

The new store is scheduled to open on 28 November 2015 and will be located in the shopping mall in Terminal 2.

Disneyland Paris joins Hong Kong Disneyland and Walt Disney World resorts which also have stores located in their nearest airports, to tempt passengers in buying  those last minute souvenirs  before flying home.

TWDC increases ownership of Disneyland Paris to 80.20%

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At the close of trading on the Euronext yesterday (24 September 2015)  The Walt Disney Company had increased it’s ownership  of Euro Disney S.C.A.  to 80.20%.

The Walt Disney Company now own a total of 628,259,291 shares in Disneyland Pairs through their subsidiary the EDL Holding Company LLC.

This increase is a rise of 1.30% as of 12 August 2015 when TWDC held a  78.90% stake in the company.  A breakdown of Euro Disney shareholders as of 12 August 2015 is available here.

Source: APPAED (Association des Petits Porteurs d’Actions EuroDisney)

Disney’s Frozen to be presented live in concert at the Royal Albert Hall

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Disney’s 2013 animated adventure Frozen will be screened with full orchestral accompaniment at the Royal Albert Hall on 29 October 2015, the first time this beloved winter warmer will have ever been presented in this way.

This World Premiere of Frozen in Concert will see a stunning high definition screening of the movie whilst the Royal Philharmonic Concert Orchestra conducted by David Firman, complete with a chorus from the Maida Vale Singers, bring the film’s magical score to life like never before.

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Frozen in Concert follows on from 2014’s Frozen Sing-Along at the Royal Albert Hall, which saw the blue carpet rolled out for thousands of young Elsas and Annas, who joined a 250-strong schools choir to sing along to all of the film’s songs during the film, including Do You Want to Build a Snowman, For the First Time in Forever and, of course, Let It Go.

Tickets Frozen in Concert on 29 October 2015 (during half term week) go on general sale at 9am on Friday 18 September and will be available from www.royalalberthall.com.

Source:  Royal Albert Hall

Euro Disney recapitalisation Phase 4 to start 1 October 2015

Logo_Euro_Disney_SCAWith Phase 3 of the Euro Disney S.C.A. Cash Tender Offer ending on 24 September 2015,  the results of the cash tender offer will be released on 28 September 2015.

Phase 4 will then begin 6 days later and will last for 30 days.  Phase 4 of the Euro Disney recapitalisation is the anti dilution mechanism, which gives shareholders the right to buy EDL shares at €1.25 in proportion of what they already own.

EDL shares closed at €1.31 on the Euronext yesturday.

CIMA to appeal to the Supreme Court and bring a civil claim for damages against TWDC.

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After having their claim dismissed by the Paris Court of Appeal on Tuesday, French hedge fund CIMA plans to appeal to the Supreme Court and bring a civil claim for damages against The Walt Disney Company.

The ruling made by The Paris Court of Appeal follows legal action filed in April by CIMA (Charity & Merger Arbitrage Fund) against the decision made by the AMF (Autorité des marchés financiers) [the French Financial Markets Authority]  to authorize the Euro Disney mandatory cash tender offer which is part of the recapitalization plan by The Walt Disney Company (TWDC) for the financially troubled Disneyland Paris resort.

CIMA believes that the capital gain on the property rights of Euro Disney S.C.A. were not taken into account and  estimate that the net worth  of Euro Disney S.C.A. would be € 2.9 billion or € 3.70 per share.

Shareholders were offered €1.25 per share by The Walt Disney Company under Euro Disney recapitalisation plan.

“We regret that the judicial authority has validated an offer to an artificial price which is not in the interests of minority shareholders,” said CIMA lawyer, Julien Visconti.  He finds that the court “refuses to rule on the merits of the various arguments raised”.  He  declared the Paris Court of Appeal incompetent and is in favour of  taking the case to the civil and criminal courts.

CIMA which has already filed a criminal complaint against The Walt Disney Company for misuse of corporate assets, presentation of false accounts and the dissemination of false information, also plans to launch a civil complaint against  TWDC  for the damage the company has done to Euro Disney over the last 25 years.

Euro Disney shares (EDL.PA) closed at €1.33 up €0.01 (0.76%) at the end of trading on the Euronext  today (10 September 2015).

Source APPAED / L’ Agefi 

Phase 3 of the Euro Disney public offering to close on 24 September 2015

Logo_Euro_Disney_SCAFollowing the ruling by the Paris Court of Appeal on 8 September 2015 the AMF announced today in document number 215C1279 that Phase 3 of the Euro Disney S.C.A. public offering will closed on 24 September 2015.

The AMF’s decision follows the Paris Appeal Courts rejection of the appeal made in April by CIMA (Charity & Merger Arbitrage Fund) against the decision made by the AMF to authorize the Euro Disney mandatory cash tender offer which is part of the Disneyland Paris recapitalization plan by The Walt Disney Company.

The Euronext Paris will publish a detailed timetable for the closure of the offer in due course.

Source: AMF and Association des Petits Porteurs d’Actions EuroDisney.