ETAG

Eurotunnel Foundation Shareholders' Action Group

This is only relevant to members of
TNU PLC, formerly Eurotunnel PLC

Many members will have received Eurotunnel’s letter of 20^th August 2010 today concerning the takeover of their shares in TNU PLC by GET SA.

Although this announcement is accompanied by a note from the Chairman, Jacques Gounon, that this transaction does not affect the travel rights, our lawyers, S J Berwin, and Eurotunnel’s lawyers, Freshfields, are still in discussion about the minutiae of Le Shuttle Club rules, and until this is resolved you continue to be advised,
‘DO NOT SIGN’

We expect to be able to send out a circular with further advice by the end of this month.

Email circular to ETAG members - 2nd September 2010 (Not on Internet)

Not receiving ETAG´s email circulars? Click Here

If you wish to use your travel rights this year Click Here

Eurotunnel Foundation Shareholders' travel rights

Latest Postings

Le Shuttle Club
DO NOT SIGN

ETAG advice to members without current email send 1st class post 21st June 2010

Le Shuttle Club Rules - ETAG Advice posted 20th June 2010

Le Shuttle Club rules 11th June 2010 posted 19th June 2010

Easter Half Term suspension of travel rights - refunds posted 18th June 2010

Having successfully dealt with their assorted bondholders as part of its reorganisation, Eurotunnel at the last moment attempted to abolish the Foundation Shareholders' travel rights, even though they were contractual obligations granted to secure a critical portion of its original equity finance. ETAG was founded to oppose this iniquity, as a result of which those shareholders who have retained the necessary qualifying shares in the former Eurotunnel PLC, now TNU PLC continue to benefit from their travel rights.

However, their qualifying shares are now a tiny minority in a subsidiary of the new holding company, Groupe Eurotunnel SA (GET SA), and ETAG continues to monitor its members' interests.

To conclude the reorganisation, TNU PLC is about to become a wholly owned subsidiary of GET SA, and it has been agreed that the obligation to provide the travel rights is to be assumed by The Channel Tunnel Group Ltd, the GET SA subsidiary which owns the tunnel concession granted by the English & French governments. As from 1st November 2010 the requirement to hold shares to quialify for travel rights will cease, and those wishing to continue taking advantage of them are to be invited to join a new travel club, Le Shuttle Club, which will monitor them.

ETAG continues to keep a beady eye on developments and maintains its defence fund in readiness for any eventuality..

The Eurotunnel Foundation Shareholders’ Action Group (ETAG)
is directed by a Steering Committee consisting of:

Michael Stainer FCA – Former member of Shareholder Consultative Committee
Paul Fox FCA – Former member of Shareholder Consultative Committee
Michael Spencer QC – Crown Office Chambers, expert in Group litigation
John Webley FCA – a former Morgan Stanley Managing Director

Change of contact details

It is important to advise ETAG, and Eurotunnel, of any change in your contact details.

Email
Members receive periodic emails from our manually maintained database. Please click here to email ETAG from your new email address so that we may update our manually maintained records, with the email heading, ‘Change of email address’; for cross checking purposes, please also give your old email, and your name and address. We will acknowledge all advices received and actioned manually.

Address
Please click here to advise us of a change of address, with the email heading ‘Change of address’; again, for cross checking purposes, please also give your old address. All alterations to ETAG’s records will be confirmed by email.

Eurotunnel Shareholder Contact Points
Please click here for access to Eurotunnel’s website details of Shareholder Contacts. The Shareholder Relations Centre is for GET SA shareholders only. TNU PLC (formerly Eurotunnel PLC) has a separate email and a Calais address, but no telephone facility.
The residual TNU PLC share registration is dealt with by Computershare Investor Services PLC. The shares are no longer quoted on any exchange.

For those who are yet to join

The requested Defence Fund contribution is

Offer Year	All these categories have travel rights to the end of the concession in 2086	1st payment	2nd payment
1987	1500 + units with unlimited 'free' return journeys	£150	£150
1987	1000-1499 units with two 'free' return journeys per annum	£40	£40
1990	1500 + units with unlimited return journeys @50% discount	£75	£75
1990	700-1499 units with one return journey per annum @50% discount	£25	£25

Over 1200 Unitholders have joined ETAG, their first payments having produced over £135,000, of which about £80,000 remains in the kitty.
Members' available insurance cover amounts to a sum well into seven figures.

If you wish to be a party to ETAG's continuing action to safeguard the Foundation Shareholders' travel rights you should register with us and send your first payment to the Defence Fund; the second payment is not required at the moment, and will only be requested, should it be necessary, to ward off any further attacks on our rights.

Please click here for ETAG's Defence Fund Contribution Form to download, and return it with your cheque or credit card details, and also please confirm your are joining ETAG by Email with the subject - Confirmation of Defence Fund Contribution.
Subscribers recieve periodic email updates.

Please notify us, and Eurotunnel, of any change in your contact details see above.

If and when we are satisfied that there is no further danger to our travel rights, any balance of funds will be returned, pro rata, to contributions. Our email address is ETAG@grand-uk.com - it would be appreciated if you would email rather than phone, or write to:

ETAG The Grand The Leas Folkestone CT20 2XL

Progress Reports

R eview of the position as it currently stands
Posted 17th September 2009

AGMs 28th April 2009 & Group Restructuring
Conclusion and suggested action (Posted 20th April 2009)

TNU AGMs 28th April 2009
Agenda commentary (posted 3rd April 2009)

TNU AGMs 27th June 2008 - ETAG report
Travel rights - Annual fee planned

Circular 7th April 2008

EGMs 21st December 2007 Attendance report

Progress Report 12th Oct 2007
Renewal of travel rights from 1st Nov 2007

AGMs 27th July 2007 Attandance report

Progress Report 30th June 2007
Confirmation that travel rights continue

Progress Report 2nd June 2007

Progress Report 18th May 2007

Progress Report 15th May 2007

Progress Report 5th May 2007

Progress Report 24th April 2007

Progress Report 14th April 2007

Press Release 9th April 2007

Press Release 31st March 2007

Special Bulletins

ETAG Advice - Le Shuttle Club Rules 20th June 2010

Le Shuttle Club rules 11th June 2010 posted 19th June 2010

Easter Half Term suspension of travel rights - refunds 18th June 2010

Restriction of Travel Rights February Half Term 2010
Posted 29th Jan 2010
Eurotunnel´s unilateral decision objected to

Renewal of Travel Rights 2010
Posted 29th Jan 2010
Steps to be taken for registration of entitlement

Travel Rights restored & Booking Arrangments
from 15th Jan 2009

Restoration of Travel Rights
Rights to resume in Jan 2009

Temporary Suspension of Travel Rights & their Renewal
Tunnel fire consequences
(Posted 29th Sepember 2008)

TNU AGMs 27th June 2008 Agenda commentry
(posted 23rd June 2008)

EGMs 21st Dec 2007 Agenda commentary
(posted 20th Nov 2007)

Eurotunnel’s AGM press release

AGMs 27th July 2007 Agenda commentary
(posted 7th July 2007)

Accepted in Error? 14th June 2007

A Thank You note 10th June 2007
Your ETAG team and their supporters

New Director 5th June 2007

Share Price Observations 2nd June 2007

Surplus U ntendered Shares 2nd June 2007

Eurotunnel Press Release
31st May 2007
Analysis of initial Offer result
Additional Acceptance Period 1st to 14th June 200

Offer result
25th May 2007 - 87% acceptances - sit tight!

The Takeover Panel ruling 23rd May 2007
Reasons for dismissing ETAG’s ‘separate class of shares’ case (40 pages)
Other aspects of ETAG's approaches to The Takeover Panel, its French Equivalent the AMF, the Paris Commercial Court and its proposed Injunction have not resulted in rulings as either Eurotunnel has taken appropriate action to satisfy our complaints or matters are ongoing.

Linklaters’ review
ETAG's action has become a leading case, and Linklaters' review is a very much more digestible summary

Suggested ACTION REQUIRED
10th May 2007

Offer Closing Date extended 6 days to 21st May 2007 - French press report
9th May 2007

ETAG Newsflash – Preservation of Travel Rights 14th April 2007

Other

ETAG Annual Accounts to 31st March 2010

ETAG-Annual Accounts to 31st March.2009 &commentary on 28th April 2009 AGMs Group restructuring proposals

ETAG Annual Accounts to 31st March 2008

Informal reception Sat 14th July 2007 & other matters

Current Activities 2nd June 200 7

Insurance Details 15th May 2007
requested from those ETAG members whose household insurance policies cover contractual disputes

Questionnaire Results 10th May 2007
Evidence that Foundation Shareholders were being misled by Offer documents & information centres