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26 June 07:17 AM

Saudi Cable Company announces the latest developments for the Company's announcement regarding its application for the opening of the financial restructuring procedure

SAUDI CABLE 2110 -6.79% 57.15 -4.17
Element List Explanation
Introduction Referring to the announcement of the Saudi Cable Company on 07/08/1444H corresponding to 27/02/2023 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 fourth session was attended on Monday 21/08/1444 AH corresponding to 13/03/2023 AD, the ruling was received today, Wednesday 08/23/1444 AH corresponding to 03/15/2023 AD, and issued, rejecting the request to open the company’s financial restructuring procedure.

The company clarifies that based on the statement of the company's legal advisor, the court's decision is not considered final, and the company has the right to object to the preliminary judgment issued in accordance with the rules specified by law within a period of fourteen days from the date the decision was received.

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 2023-02-27 Corresponding to 1444-08-07
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.
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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