SWAN EGMS will be held today

Today 11/11/11 the extraordinary Extraordinary General Meeting of Shareholders of Swedish Automobile (SWAN) will be held in Zeewolde.

Ttela.se cite Ms. Gunilla Gustavs saying that it will be a closed meeting, so maybe we won’t hear anything from what will be discussed there, but as far as we have some information, we will post it here.

The EGMS was planned back in September in order to make the needed changes in the SWAN structure to adopt the new part owners Youngman and Pang Da. On November 1st and after the new MoU from YMPD the EGMS changed its agenda and the EGMS was meant to be used to explain the Shareholders of SWAN what the Sale of Saab means

However, the EGMS will still be held on 11 November. At the EGMS, Swan will give shareholders further information about the structure of the new transaction with Pang Da and Youngman, and will discuss that transaction with shareholders.

Source: Swedish Automobile

But, this is also obsolete by now.

Another Interview With Victor

This interview was recently conducted by AutoWeek.nl immediately after the creditor’s meeting on Monday. Thanks so much to reader davidjoost from the Netherlands for taking the time to transcribe and translate it. I found one particular quote from Victor especially telling.

“If people regard it that [I didn’t keep promises] is actually irrelevant, because no one knows, really nobody knows, what really happened. One day I will tell what happened, then everyone can get a more balanced image.”

Read the translation after the break.

Read more

Additional reconstuction reading from the press

More fodder for those or you looking for a different angle on things….
——————–
From Forbes: Saab Bids GM Farewell
Defining quote:
“Today is the beginning of a new chapter in Saab’s history,” says Jan Ake Jonsson, managing director of Saab. “We are now recreating Saab Automobile as an independent unit. The road ahead will not be easy.”
————–
From CNNMoney: GM Units In Europe, Korea, Appeal For Aid To Stay Open
Defining quote:
“[Let’s picture] Saab as an independent car company with … low sales volumes,” said state secretary Joran Hagglund at the Swedish Ministry of Enterprise, Energy and Communication. “If you listen to analysts, then they say there’s not a chance such a company can survive. So what I’m really saying is that you should keep your expectations very low.”
—————-
From Bloomberg: Saab Seeks Protection From Creditors as GM Pulls Out
Defining quote:
“Unless the Swedish government is prepared to put a lot of money into Saab, I think that this is just another step down the road to the graveyard,” said Stephen Pope, chief global strategist at Cantor Fitzgerald in London.
——————-
From Reuters: Saab Story
Defining quote:
“Saab said it would seek funding from public and private sources through the reorganization, and that GM would provide liquidity.”
—————–
From Sky News, UK: Safe, Strong And Not Here For Long
Defining quote:
“The question is who’s going to want to put up that sort of money for a for a company that can’t stand on its own two feet? “
—————
From the Sydney Morning News: Sweden ready to let Saab drive off cliff
Defining quote:
“Saab employs 4100 workers in Sweden, and another 10,000 jobs are linked to subcontractors, making it an industrial powerhouse in a country of just 9 million. Unemployment in Sweden reached 7.3 per cent in January.”

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close