AMSTERDAM(Reuters) - Niche Dutch luxury cars maker
Spyker Cars , which bought Sweden's Saab from General
Motors Co earlier this year, has informed stock
exchange NYSE Euronext that it has more liabilities than
assets.
"NYSE Euronext has been informed today by Spyker Cars NV
about a negative shareholders' equity position," the stock
exchange said in a statement on Wednesday.
It added that Spyker Cars management has been in contact
with NYSE Euronext and is committed to complying with Euronext
Amsterdam regulations relating to negative shareholders'
equity.
The stock exchange said it would not impose any listing
measures on Spyker Cars while it was compliant with the
exchange's regulations.
These regulations stipulate that Spyker Cars must issue a
statement within five days detailing its financial situation
and why it has negative shareholders' equity.
The statement should also detail the company's solvency and
liquidity position, short- and long-term prospects regarding
its continued existence, measures taken and planned to improve
its solvency and details of any credit facilities.
Spyker Cars, which has never made a profit, bought the
larger Saab from GM earlier this year and is now working to
revive the flagging brand.
The company's ability to finance the deal and the Saab
turnaround have been an ongoing worry for investors.
Spyker will report half-year results on Aug. 27.
(Reporting by Harro ten Wolde and Aaron Gray-Block, editing by
Gerald E. McCormick)


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