Spyker-saab??

[Aiglos91]

Volg de aandeelhoudersvergadering van Spyker live - RTL Z

At this site, a man posted what was said in the shareholders meeting. However, Spyker asked the man (after finding out he was texting information to people from outside the meeting) to leave the meeting.

Edit: The man who was/is posting the information on the rtl-site is still posting information. He tries, in consultation with Spyker, to get back into the room with shareholders.

Edit2: As Laviolette GT2R said, he is now allowed back in

[Laviolette GT2R]

He was allowed back in!

[Dutchdude]

He was allowed back in!

Very interesting information so far....

[Dutchdude]

12:54 Shareholders counting and......: YES they agree!

[Reddingius]

Huray!

[Reddingius]

Interesting to read that they got one billion in assets, one of which is a 30 million wind-tunnel. That would be great for the (race)cars of Spyker!
furthermore, Muller said there would be a small Saab (presumably a 9-1) and a new 92.
That's not a 9-2, but the reincarnation of the infamous 92 I think:



Interesting, two new small Saabs, whereas before Muller said they would be focusing on three models only.. (being 9-3, 9-4X and 9-5)

Can anyone think of a reason for SaabSpyker to relocate their stocks to Londen/Stockholm instead of Amsterdam?

Finally I found it surprising that the new business was referred to severel times as SpykerSaab, eventhough Muller had announced not very long ago the new name would be SaabSpyker.
These might be small mistakes by the EVB guy though.

Wrapping it up: A new step taken by the White Obama!

[edit: Muller also said that if Spyker wouldn't become profitable in the foreseeable future, they would probably sell it... What? no! never!]

[IVR007]

I think it would be good if saab spyker is listed in Stockholm: that same enthusiasm that has been shown in Sweden for Saab spyker means these people might also want to be a shareholder. You want to give these people that chance, enabling the share price to go up. Don't really understand why he would prefer the London stock exchange over the amsterdam..(Muller's office will be in London too).

I think his words about selling Spyker are meant to keep the share holders happy; they tend to not like unprofitable businesses

[Reddingius]

I don't have any articles to confirm this, but the Saab enthousiasts at Saabs United say the EIB just approved the loan!

Oh hold on, I do have an article now, here you go:

EIB approves Saab loan - The Local

Now all the pieces of the puzzle are in place! Let's hope everthing gets sorted in time so that the contract can finally be signed on monday!

Cheers to Victor and everyone involved at Spyker!

[IVR007]

Official

EIB APPROVES LOAN TO SAAB AUTOMOBILE AB




ZEEWOLDE, The Netherlands (12 February, 2010) - The EIB has today approved a loan to Saab Automobile for €400 million. A statement on the EIB's website reads:

The EIB has confirmed the authorisation to conclude the EUR 400 million loan to SAAB Automobile AB in accordance with the terms and conditions approved by the Board of Directors on 21 October 2009 and to conclude the guarantee agreement with the Swedish National Debt Office, as the loan is subject to a state guarantee which the Swedish Government approved on 26 January 2010. The EU Commission approved the Swedish state-guarantee for the Bank's loan to SAAB on 8 February 2010.

Victor Muller, Spyker CEO said: "We are extremely pleased with the decision by the EIB as this was a crucial component in enabling the acquisition of Saab to proceed. Months of hard work have paid off. We cannot wait to close this transaction now as soon as practically possible. We extend our gratitude to the EIB officials who have worked relentlessly to make this happen."

Jan Åke Jonsson, Saab CEO, said: "This represents another milestone along the path towards the creation of an independent Saab. This is very good news and everyone at Saab should feel very positive now."

In a separate development, Spyker shareholders at an Extraordinary General Meeting in Zeewolde today approved the intended transaction to acquire Saab. The proposal was carried with an overwhelming majority.

Victor Muller said: "Today's meeting went very smoothly and we spent a lot of time explaining the transaction in great detail. We also announced that we are currently investigating the possibilities of listing Spyker at the London Stock Exchange by means of a dual listing and possibly in the future in Stockholm, in which case the listing in Amsterdam would eventually be terminated. However, I stress that this is still in the investigation phase and no such decision has been made yet.

"We postponed the decision to change the name of Spyker Cars N.V. to Saab Spyker Automobiles because we need to reach agreement with Swedish aircraft manufacturer Saab AB on the possible use of the Saab trademark in our corporate name. We expect this issue to be resolved at Spyker's Annual General Meeting, scheduled for April 22 2010."

-Ends-

[ticoterie82]

Does anybody why the share is also listed on FSE ?

Bourse: Frankfurt Stock Exchange
ISIN: NL0000380830
Ticker: L9I

Have a nice wk

[DavidMorgan]

Victory for Victor



"I am very upbeat and very please that the largest barrier in the entire deal is now out of the way," Spyker CEO Victor Muller told news agency TT.

"We are now moving quickly towards a conclusion of the deal. Everything is likely to be done next week."

Spyker said earlier this month that it intended for Saab to turn a profit by 2012, requiring an investment of about a billion dollars.

The Swedish company, which manufactured under 30,000 cars in 2009, hoped to increase this figure to more than 120,000, its chief executive Jan-Åke Jonsson said at the same press conference.

Muller said Spyker would apply for a double listing in London and later possibly also in Stockholm, and would consider delisting from the Amsterdam stock exchange.

"Having a listing in London is a much better way of getting close to investors than staying in Amsterdam," he said.

Proposals to change the new company's name to Saab Spyker Automobiles would be discussed at the next annual general meeting in April.

Muller had reiterated the finalisation of the deal would be conditional on Spyker obtaining the loan from the European Investment Bank.
http://www.thelocal.se/24958/20100212/

[IVR007]

Last week's extraordinary shareholders meeting did not handle the name change from 'Spyker cars nv' to 'Saab Spyker automobiles nv', because of possible legal disputes.
The owner of the Saab brand name, is Saab AB. Saab AB contains saab aerosystems (maker of the Gripen). Saab AB now stated they have no problem with Saab being listed at the stock exchange, and the name being used by Spyker Cars. So everything is looking good, and all the papers will probably be signed this week.

[OnTheLam]

This has just been a tour de force for Spyker. Excellent work, Victor!

[IVR007]

Victor Muller told svd.se that Antonov thinks he can prove the allegations against him are false. If he manages to do so he is welcome to come back as a financier, says Muller.

Makes sense to me, looks like Antonov stepped aside to make the Saab deal possible. I believe he'll make quite a loss on his investment in Spyker when Muller takes over his share. Now he's got the time to prove they were were wrong.

[IVR007]

Although Antonov is no shareholder, his banks provided a 25m dollar loan to Tenaci bv so that the first installment can be paid.

source: Bloomberg News

Russian Investor Barred From Saab Provides Financing for Spyker
Feb. 17 (Bloomberg) -- Vladimir Antonov, the Russian investor forced to give up his Spyker Cars NV holding before the company buys Saab Automobile from General Motors Co., said he supplied the first $25 million paid toward completing the deal.

“The first installment was provided by our banks,” Antonov said today by telephone from Courchevel in the French Alps, where he is vacationing. “I can confirm that $25 million will be used for the acquisition costs.”

GM’s agreement to sell Saab to Spyker calls for Antonov to sell his Spyker shares and resign as chairman when the transaction closes, which may occur next week. The demand from GM came after concerns arose in December about Antonov’s past, people familiar with the situation have said.

Spyker, the Dutch maker of the C8 Aileron sports car, agreed last month to purchase Trollhaettan, Sweden-based Saab for $74 million in cash and $326 million in preferred shares. All major stakeholders, including GM and the Swedish government, are aware that Antonov is funding Spyker’s first payment, the investor said.

Antonov said the money is coming from Convers Group, a banking consortium that includes Lithuania-based AB Bankas Snoras. The company is lending money to Tenaci Capital BV for the deal, he said.

Spyker has said it’s funding the first installment with a loan from Tenaci and that the firm is controlled by Victor Muller, chief executive officer of the carmaker.

Muller declined to comment on Tenaci’s funding and GM spokesman Tom Wilkinson also declined to comment.

Money in Escrow

Spyker has put $25 million into escrow with Detroit-based GM. Another $25 million is due on closing and the rest of the $74 million in cash is due July 15.

Antonov, who owns 29.9 percent of Spyker, said he would be “happy” to return to the carmaker and the new company, likely to be called Saab Spyker Automobiles.

“I still don’t know the reasons” behind GM’s concerns, Antonov said, adding that he has hired an investigative firm to produce evidence that he has no criminal background. “I don’t have any connection to any criminal people, no way,” he said.

Antonov, a 34-year-old Russian who resides primarily in London, is barred from Spyker until 2016, when GM’s preferred shares are scheduled to be redeemed, a person familiar with the situation has said.

“If he could ever come back as a shareholder we would welcome him with open arms,” Muller said in an interview.

Russian Relations

Antonov wrote in a New York Times opinion piece last week that he was pushed out because of his nationality.

“There is a fear of Russia itself, of the increase of the influence of Russian businesses in the international marketplace,” he wrote. “Out of economic self-interest, the United States wants to bar Russia from participating in enterprises involving advanced technologies.”

Antonov’s exclusion from ownership “is a matter strictly between him and GM,” Muller said. “He’s a wonderful person to work with and he will be deeply missed as a shareholder.”