GM board postpones annual shareholders meeting

General Motors says it has postponed its annual shareholders' meeting indefinitely.

Company spokesman Tom Wilkinson says the old GM's board delayed the meeting without setting a new date. It had been scheduled for Aug. 4 in Detroit.

The new GM emerged from bankruptcy protection on Friday but its stock stayed with the old GM, which was renamed Motors Liquidation Co. The new company is 60.8% owned by the U.S. government and plans to issue new stock sometime next year.

Wilkinson says he was not told why or when the board made the decision or if a meeting will be held. Six members of the old board will serve on the new company's 12-member board. Only two of the remaining six members have been appointed.

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