Saudi Cable Company announces the latest developments for the Company's announcement regarding postpone the opening of the financial restructuring procedure
Referring to the announcement of the Saudi Cable Company on 25/06/1444H corresponding to18-01-2023 that the application for the opening of the financial restructuring procedure of the company that was postponed. Saudi Cable Company wishes to announce to the shareholders that the second session was attended today, Tuesday 16/07/1444 AH corresponding to 07/02/2023 AD, and the division indicated that the statement was not received from the trustees, so the division decided to postpone the session and set the date of the next session on 7th of Shaaban 1444 AH corresponding to February 27, 2023 AD to reconsider the case.
Previous Announcement
Saudi Cable Company announces the latest developments for the Company's announcement regarding postpone the opening of the financial restructuring procedure
Date of Previous Announcement on Tadawul's Website
2023-01-18 Corresponding to 1444-06-25
Percentage of fulfilled achievement
N/A
Event's Expected Completion Date
It is difficult to determine the expected date of completion of this event at this time.
Reasons for Exceeding the Announced End Date
The previous announcement did not specify the date of the court's decision and set the time frame for the submission of the proposal for financial restructuring procedure.
The costs associated with the event, and if they have changed or not with indication of the reasons.
There are no costs associated with the event during the current period and the financial impact will be disclosed at a later date.
Impact of the Delay on the Company's Financial Results
It is not currently possible to determine the financial impact, and the impact, if any, will be disclosed in a timely manner.
Additional Information
The Company wishes to emphasize that it continues to work on the implementation of the Recovery Plan and the financial restructuring established by its Executive Management and Board of Directors, who emphasize that the continuity of the Company and the preservation of its shareholders' rights are their top priorities.
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