As discussed on Episode 16, Disney have now released the following statement clarifying the position of existing shareholders
Following yesterday’s announcement by the Shareholders Club increasing the number of shares required for new applicants are required to hold to join the Club. A statement has been released today to clarify the position for existing members.
The Shareholders club confirms that these new applicable general conditions from March 10th, 2016 concern only the new members (never be members of the Club before this date) who have to hold 1000 shares minimum.
The former members of the Club (until March 9th, 2016) are not impacted by these new conditions if they make the renewal of their card at the latest in 60 days following its expiration date.
The new cards validity will be of 5 years for all the Club members.
The current cards (valid until 2017 or 2018) remain valid up to the expiration date and will not be reproduced with the 5-year term.
This new 5-year term will be applicable only during the renewal and according to your date of membership (so with 5 or 100 or 1000 shares)
Attention: the former members of the Club (before March 10th, 2016) will see applying the new criteria of 1000 shares if they do not make by their renewal in 60 days after the expiration date.
The renewal, according the current general conditions, is not automatic and remains a personal move from the member.
To sum up for a renewal:
- If you are a member before October 1st, 2005 : hold a minimum of 5 shares
- If you are a member between October 1st, 2005 and March 9th, 2016 : hold a minimum of 100 shares
- If you are a member since March 10th, 2016 : hold a minimum of 1000 shares