Euro Disney Shareholders Club Becomes More Exclusive at the Expense of Others
There are probably many of you, including myself who will be effected by the shock change in the rules over membership of the Disneyland Paris Shareholders club. Back in 2006, I purchased 500 Disneyland Paris shares to become part of the Shareholders club. It meant discounts in the park, hotels, restaurants and even UK Disney Stores. For 30 Euros every two years I could also gain access to the exclusive Salon Mickeys. What I didn’t realise is that my trip to the Salon in June was going to be my last.
Today, Disneyland Paris Shareholder club members received an email stating:
Dear Shareholders Club Member,
To better meet the needs of the Shareholders Club Members and offer them a quality service and relevant information on the Company, the Shareholders Club is pleased to announce the implementation of the new « General Conditions of Euro Disney S.C.A. Shareholders Club » effective Monday, October 1st, 2012. We invite you to consult the attached document for additional information.
As of this date, any shareholder would like to become a member or to renew its membership to the Shareholders Club, has to hold a minimum of 100 Euro Disney S.C.A. shares (ISIN code: FR0010540740) in a bearer or a registered form. Members of the Shareholders Club who joined before October 1st, 2000 and who hold a valid membership card, are exempt from this minimum shareholding.
I’m sorry, what!!!!!
Many of you are probably in the same boat as me. in 2007, my 500 shares were diluted down to just 5 and, although this remained the minimum we needed to be part of the club few complained. The current rules for membership over the next few days, according to the website are:
Shareholders who own between 5 and 20 shares will also need to send a 2-year administration fee of €30.
If you hold 20 shares and more, you do not need to pay any administration fee.
Well, now comes the backlash. It seems EURO Disney SCA are trying to cut out many of its shareholders with what seems to be a very underhand move. Until now, I have been a happy shareholder but now, they seem utterly worthless. Having paid £56 for them in 2006, they are now worth £21.26, a 62% drop. As if that isn’t enough, it will cost another £409 for me to become a member of the club with their new rules. Another case that Disneyland Paris doesn’t understand those that it deals with on a regular basis. Have they realised that they were giving access to the club too cheaply? Possibly, but surely punishing those that have supported for years is not the way to go about it.
And for those that were going to join, don’t bother. Instead, throw the money you were going to spend down a large hole, it’ll make the same difference!!!
If you want to read the general conditions in full, take a look here
We’d love to hear your thoughts on the matter.
This site uses Akismet to reduce spam. Learn how your comment data is processed.