Shareholder news: EuroDisney to stop listing on London Stock Exchange

[rob@rar.org.uk]

This from the recent Euro Disney press release:

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Shares to Trade Exclusively on Euronext Paris

Over the past few years, market trends and changes in the regulatory environment, including the recent European Union Prospectus Directive which harmonises the law on public offerings across the European Union, have facilitated access for investors to trade in shares listed in European Union member states other than their own. These changes, combined with the high cost of maintaining separate listings relative to historical trading volumes have led to the Company’s decision to cancel its share listings on the London Stock Exchange and Euronext Brussels. Following the cancellation of the listings, investors will still be able to trade in the Company’s shares on Euronext Paris.

The Company will separately communicate to each holder of the Company’s depositary receipts in the United Kingdom the details of the process for exchanging depositary receipts for underlying shares. If depositary receipts are not exchanged, the underlying shares will be sold on the holder’s behalf. The last day of trading of the Company’s securities on the London Stock Exchange will take place on October 31, 2005.

The listing cancellation in Belgium does not require any specific action by shareholders, and a final listing cancellation date will be announced after obtaining approval from the relevant market authority.
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Regards

Rob

 

[Cyrano]

I wonder what this means, as we enjoyed the shareholders discount and access to Salon Mickey ?

Reid

 

[steve_rob]

I guess it means you'll be given the opportunity to convert your shares from the ones sold in London (in pounds) to the ones sold in Paris (in Euros). But otherwise there won't be any difference in the shares themselves.

 

[rob@rar.org.uk]

I guess it means you'll be given the opportunity to convert your shares from the ones sold in London (in pounds) to the ones sold in Paris (in Euros). But otherwise there won't be any difference in the shares themselves.

I think that's right, although I don't think you will have an option. EUD shares will no longer be traded in London, so any shares you own WILL be converted.

I doubt there will be any difference in the perks for being a shareholder, but I do think it will be slightly more difficult/expensive for UK individuals to buy and sell Euro Disney shares after they have transferred to Euronext Paris.

Regards

Rob

 

[Miffy2003]

Is anyone reading anything more into this?

I am not well versed in shares and the stockmarket so I don't know!

 

[Cyrano]

Karen
i don't really understand this also. I bought mine through Comdirect but paid Euros so hopefully will have little impact.
Mind you I'll need to add a few more shares now that the Shareholders Club have lifted the bar to 2000 shares.

Reid

 

[Ware Bears]

Another one here who doesn't really understand.