GM Statement Regarding the Filing of General Motors Company's Current Report on Form...
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GM Statement Regarding the Filing of General Motors Company's Current Report on Form 8-K DETROIT, Aug. 7 /PRNewswire/ -- General Motors Company (GM) today filed with the Securities and Exchange Commission (SEC) a Form 8-K with details on a number of matters that have occurred since the new company launched on July 10, 2009 as well as a comprehensive review of the business. GM agreed to provide this qualitative, non-financial information as part of its understanding with the SEC regarding the company's filing requirements and those of Motors Liquidation Company (formerly General Motors Corporation), which sold substantially all of its assets to GM. Some of the information filed today includes: -- information on ownership structure, corporate governance, directors and executive officers and previously disclosed compensation details for 2008 and 2009 as filed with the SEC by Motors Liquidation Company under the name General Motors Corporation on March 5, 2009 and for 2009 by GM on July 16, 2009 -- description of securities and warrants -- significant operational and financial agreements and related exhibits -- risk factors and regulatory issues that may affect GM's operations "Today's disclosures are consistent with our commitment to remain transparent and to keep the public informed of our progress," said Fritz Henderson, GM president and CEO. Although GM is a private company and not subject to the same filing requirements as publicly held companies under the Securities Exchange Act of 1934, the company will continue to file certain information with the SEC about material business matters as well as provide certain disclosures about the company's financial status and key indicators of the company's progress. Upon the completion of the third quarter 2009 and finalization of GM's accounting records, the new company will file a Form 8-K with quarterly information for the three- and nine-month periods ending September 30, 2009. The financial and related information will be consistent with information used by management to assess operating results for the period but will not comply with GAAP, as it will not incorporate "fresh start" accounting and other adjustments related to the recently concluded 363 sale. In 2010 GM plans to file a fully compliant Form 10 to register its common stock under Section 12 of the Exchange Act, as well as fully compliant Forms 10-Q and 10-K, including GAAP compliant financials, for the periods ending September 30, 2009 and December 31, 2009 respectively. NOTE TO EDITORS: For additional media information visit http://media.gm.com. Contacts: Renee Rashid-Merem 313-665-3128 (o) 313-701-8560 (c) firstname.lastname@example.org Tom Wilkinson 313-667-0366 (o) 313-378-6233 (c) email@example.com Julie Gibson 212-418-6381 (o) 313-213-3086 (c) Julie.firstname.lastname@example.org SOURCE General Motors Company
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