Following today’s delisting of Euro Disney S.C.A.‘s shares on the Euronext Paris, a mandatory buy-out will apply to all the remaining Euro Disney shares that The Walt Disney Company do not own, i.e the 22,661,121 shares they did not purchase during the Cash Tender Offer or via the stock market.
The remaining Euro Disney shareholders will receive compensation of €2.00 per share under the mandatory buy-out.
Upon the closing by Euroclear France of the affiliates’ accounts (scheduled for 19 June 2017), the custody account-keeping institutions will require from BNP Paribas Securities Services, acting as the custody account-keeper appointed by The Walt Disney Company the payment of the compensation for the shares registered in their books not owned by the TWDC and which are therefore subject to the mandatory buy-out, and will credit the accounts of the shareholders with the compensation payment due to them.
Compensation payments not requested by the custody account-keeping institutions on behalf of the beneficiaries will be kept by BNP Paribas Securities Services for a period of ten years after the mandatory buy-out after which they will be transferred to the Caisse des Dépôts et Consignations.
Such compensation payments may be claimed at any time by their respective beneficiaries, subject to a thirty-year statute of limitations, after which such funds will become the property of the French Republic.
Under the mandatory buy-out shareholders based in the United Kingdom should receive their compensation payments early next year.
For shareholders located outside the European Union it could take as long as 12 months for these shareholders to receive their compensation payment of €2.00 per share.