Tui

Fortyfoot

It will be Jet2 next time for me. 

Smudge's_Lot

He has been hit by sanctions and cannot sell/buy or influence his holdings.

He has no place on the Board and the company remains owned by all of it's shareholders

bagand96

If anyone wants a more in depth assessment of the situation, rather than just a two sentence summary: Russian billionaire Alexei Mordashov quits Tui board after EU sanctions | Tui Travel | The Guardian

twopenny

Very interesting Bagand. I've not seen anything so specific.

I didn't realise TUI was a German owned company either. It's not something we ever thought about until the world got thrown into a blender.

The loss of a large proportion of his share holding may have an impact on the company and all of us at least in the short term.

bagand96

twopenny said:

Very interesting Bagand. I've not seen anything so specific.

I didn't realise TUI was a German owned company either. It's not something we ever thought about until the world got thrown into a blender.

The loss of a large proportion of his share holding may have an impact on the company and all of us at least in the short term.

Thomson Holidays were acquired by Pressaug (German forerunner to TUI) back in 2000, although it took a few years for it all to be branded TUI.  A bit like Thomas Cook also ending up in a merger with a German tour operator in 2001.  The UK and German package holiday markets are very similar so they seemed to fit.

NoodleDoodleMan

We joined Thomsons Founders Members Club when it launched in 1998 - if memory serves it cost £1000 (or thereabouts) to purchase the minimum number of shares to become a member, this gave holders 10% off Thomsons holidays etc.

The new  German owners allowed it to continue in 2000 after they acquired Thomsons - then it was closed in 2008 when they bought back the shares..............for almost exactly what they cost to buy when the club started.

Bottom line - we got back what we had invested - and ten years of discounted package deals.

Westin

NoodleDoodleMan said:

We joined Thomsons Founders Members Club when it launched in 1998 - if memory serves it cost £1000 (or thereabouts) to purchase the minimum number of shares to become a member, this gave holders 10% off Thomsons holidays etc.

The new  German owners allowed it to continue in 2000 after they acquired Thomsons - then it was closed in 2008 when they bought back the shares..............for almost exactly what they cost to buy when the club started.

Bottom line - we got back what we had invested - and ten years of discounted package deals.

A fellow “Founder”!

It was good whilst it lasted.  Oh the days of shareholder perks!  I seem to recall one of the cross channel ferry lines had a shareholder perk of free walk on travel. I didn’t however take that one up.

bagand96

Westin said:

NoodleDoodleMan said:

We joined Thomsons Founders Members Club when it launched in 1998 - if memory serves it cost £1000 (or thereabouts) to purchase the minimum number of shares to become a member, this gave holders 10% off Thomsons holidays etc.

The new  German owners allowed it to continue in 2000 after they acquired Thomsons - then it was closed in 2008 when they bought back the shares..............for almost exactly what they cost to buy when the club started.

Bottom line - we got back what we had invested - and ten years of discounted package deals.

A fellow “Founder”!

It was good whilst it lasted.  Oh the days of shareholder perks!  I seem to recall one of the cross channel ferry lines had a shareholder perk of free walk on travel. I didn’t however take that one up.

Small fry in comparison... but most of the UK pub chains still have fairly good shareholder perks.

Back to TUI, it's the same situation as Abrmovich now finds himself in with Chelsea. The shares can't be traded or sold because of the sanctions, even if TUI wanted to buy him out they couldn't. 

Westin

It seems the TUI majority shareholder simply shuffled his share holding investment around between companies he owns in Cyprus and the British Virgin Islands.  I had thought this was exactly what the sanctions were meant to stop.
https://www.bloomberg.com/news/articles/2022-03-05/russian-tycoon-mordashov-transfers-1-4-billion-tui-stake 

NoodleDoodleMan

Westin said:

NoodleDoodleMan said:

We joined Thomsons Founders Members Club when it launched in 1998 - if memory serves it cost £1000 (or thereabouts) to purchase the minimum number of shares to become a member, this gave holders 10% off Thomsons holidays etc.

The new  German owners allowed it to continue in 2000 after they acquired Thomsons - then it was closed in 2008 when they bought back the shares..............for almost exactly what they cost to buy when the club started.

Bottom line - we got back what we had invested - and ten years of discounted package deals.

A fellow “Founder”!

It was good whilst it lasted.  Oh the days of shareholder perks!  I seem to recall one of the cross channel ferry lines had a shareholder perk of free walk on travel. I didn’t however take that one up.

Years ago BBC Radio Scotland had a once weekly financial journalist - his name was ? Clarke (can't mind his first name) - he gave out a list of well known companies etc. that offered such benefits for a nominal share holding.

I believe that cross channel ferry deal was among them, but it was restricted to a specific day of week if memory serves.

Some of the deals were very attractive - especially to retired punters who could take advantage to negate the limitations and restrictions of the Ts&Cs.

TELLIT01

The Russian oligarchs would have seen the writing on the wall and shifted their interests before they were sanctioned if they could.  Abramovich couldn't move Chelsea!