Spyker Cars says it will report negative shareholders equity as of 30 June ahead of its half-year figures due out tomorrow (27 August).
A statement on Spyker’s website said: “The negative equity position of Spyker as of June 30, 2010 reflects the IFRS [International Financial Reporting Standards] requirement to treat the US$326 million of redeemable preference shares issued to General Motors as part of the Saab acquisition in February of 2010 as liabilities instead of equity.
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“From a Swedish GAAP and law perspective these shares qualify as equity and accordingly management also considers these shares to be part of the Group’s capital, which still has a positive balance. More details will be disclosed in the half year report on Friday.”
Spyker added it had been in contact with NYSE Euronext and was committed to comply with the Euronext Amsterdam notice 2010-001 under section 3.
NYSE Euronext Amsterdam has agreed not to impose listing measures.
