Swedish National Debt Office Allows Vladimir Antonov as Shareholder In Spyker

News provided by

Zeewolde

28 Apr, 2011, 10:17 ET

AMSTERDAM, April 28, 2011 /PRNewswire/ -- Spyker confirms the announcement of the Swedish National Debt Office (NDO) to allow Vladimir Antonov as a shareholder of Spyker.

Victor Muller, CEO of Spyker and Chairman of Saab Automobile, said:

"This is a great day for our company and for me personally. We worked relentlessly for 11 months to achieve the desired result: restore the reputation of Vladimir Antonov, who made so many valuable contributions to Spyker since 2007 as financier and shareholder. We are convinced he will be able to make such contributions again in the near future and look forward to the decisions of the Swedish Government, General Motors and the European Investment Bank (EIB), following the recommendation of the NDO which was the result of intense scrutinising."

Vladimir Antonov, Chairman of Conversgroup, said:

"I am very happy finally getting the recommendation from the NDO to the involved parties, being a future investor in Spyker. The past months of speculations around me, as an individual investor and my businesses has been exhausting. Clearly this has been a disturbing factor for many of my businesses. Finally we have managed to obtain a clean bill of health and we need to move fast forward to secure the cash flow of Saab Automobile. I hope all involved parties now further take on their responsibility so we can close all processes fast to secure the future of Saab Automobile."

Spyker and Saab Automobile continue to work on securing funding. Saab Automobile is still in talks with the EIB and all parties involved on a solution to complete the sale of Saab Automobile Property AB (Saab Property). It is not yet certain whether the above parties will be able to fulfil all of the conditions of the EIB and finalize the sale of Saab Property.

In addition, Spyker and Saab Automobile are negotiating equity and debt financing and/or technology licensing with various strategic partners, including various Chinese car manufacturers. No commitments have been received to date.

SOURCE Zeewolde

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