EURO DISNEY S.C.A. Euro Disney announces successful equity rights offering (Marne-la-Vallée, February 18, 2005) Euro Disney S.C.A., operator of Disneyland
Resort Paris, announced today the success of its share capital increase for a
total amount of Euro253.3 million (issue premium included) launched on 20th
January, 2005. The offering provided existing shareholders the preferential
rights to purchase 2.8 billion new shares at Euro0.09 per share.
At the closing of the centralisation period, total subscriptions exceeded
shares offered by approximately 9%, demonstrating investor confidence in the
Company's future. 3.1 billion total shares were subscribed, of which 2.6
billion shares were subscribed on a non-reducible basis and 496.3 million were
subscribed on a reducible basis. The method by which applications for reducible
shares will be scaled down will be published early next week.
The new shares will be admitted to trading on Euronext Paris and Euronext
Brussels as from 23rd February, 2005. The new shares and the new Depositary
Receipts will also be admitted to trading on the London Stock Exchange's market
for listed securities.
Upon final settlement of the share capital increase on 23rd February, 2005, the
Company's restructuring, which was designed to provide liquidity and capital to
support operations and fuel future growth, will become fully effective.
We are pleased with the strong market response to our equity offering, which we
see as a vote of confidence in the Company's growth potential and strategy. Now, our undivided attention turns to the execution of our growth strategy,
said Jeffrey R. Speed, Senior Vice President and Chief Financial Officer of
Euro Disney S.A.S.
André Lacroix, Chairman and Chief Executive Officer of Euro Disney S.A.S.,
added: "We look forward to an exciting future as we begin an unprecedented, multi-year
expansion of our resort offering. In April, we will witness the launch of Space
Mountain: Mission 2, followed by our Summer Magic Celebration honoring the 50th
Anniversary of The Disneyland Resort in California. Each of the years 2006,
2007 and 2008 will bring even more rides and attractions to our Resort. These
investments, combined with an innovative marketing and sales strategy should
set the foundation for sustained and profitable growth." ------------------------------------------------------------------------ Euro Disney S.C.A. and its subsidiaries operate the Disneyland Resort Paris
which includes: Disneyland Park, Walt Disney Studios Park, seven themed hotels
with approximately 5,800 rooms (excluding 2,033 additional third-party rooms
located on the site), two convention centres, Disney Village (a dining,
shopping and entertainment centre) and a 27-hole golf facility. The Group's
operating activities also include the management and development of the
2,000-hectare site, which currently includes approximately 1,000 hectares of
undeveloped land. Euro Disney S.C.A.'s shares trade in Paris (SRD), London and
Brussels.
These materials are not an offer to sell or a solicitation to buy any
securities in the rights offering in France, the United States or any other
jurisdiction. The rights offering will be made only by means of an offering
document complying with the applicable securities laws of the jurisdiction or
jurisdictions in which such rights offering shall be made. The securities
offered in the rights offering have not been and will not be registered under
the United States Securities Act of 1933 and may not be offered or sold in the
United States or in any other jurisdiction absent registration, an applicable
exemption from registration requirements or qualification under the applicable
securities laws of such jurisdiction.
Corporate Communication Investor Relations Pieter Boterman Fiona Lord Duarte Tel: +331 64 74 59 50 Tel: +331 64 74 58 55 Fax: +331 64 74 59 69 Fax: +331 64 74 56 36 e-mail: pieter.boterman@disney.com e-mail: fiona.lord.duarte@disney.com Code ISIN: FR0000125874 Code Reuters: EDL.PA Sicovam: 12 587 Code Bloomberg: EDL FP END
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