| Announcement Detail |
Saudi Electricity Co. (SEC) announces receiving a letter from the public investment fund (PIF) ref.no 4018 dated 27- 08 -1441 HD corresponding to 20 – 04 - 2020. The letter states that the delegated ministerial committee for restructuring the electricity sector and SEC has given an approval on the dividend waiver of PIF’s shares for the fiscal year 2019. This dividend waiver was given on PIF shares in SEC that represents 74.31 % the total shares which counts to (3,096,175,320) share. The dividend waiver comes in line to achieve aimed goals of restructuring the electricity sector and SEC as well as to ensure SEC’s financial and operational sustainability and seek appropriate ways to enable it to fulfill its obligations. |
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