Saudi Cable Co. Announces Obtaining a Loan
| Element List | Explanation |
|---|---|
| Introduction | The Saudi Cable Company announces that it has obtained an interest-free loan in the amount of 107,939,314.85 Saudi Riyals (one hundred and seven million nine hundred and thirty-nine thousand three hundred and fourteen riyals and eighty-five Halala), and the amount has been received in a few payments as follows:
1. Amount of SAR 55,430,398 as of 18/12/2025. 2. Amount of SAR 2,603,356.32 on 24/12/2025. 3. Amount of SAR 49,905,561 as of 29/12/2025. |
| Date of obtaining the funding | 2025-12-29 Corresponding to 1447-07-09 |
| Financing entity | Mr. Ibrahim bin Mansour bin Mohammed Al-Rajhi |
| Financing amount. | 107,939,314.85 Saudi Riyals (One Hundred and Seven Million Nine Hundred and Thirty-Nine Thousand, Three Hundred and Fourteen Riyals and Eighty-Five Halalas). It is an interest-free loan. |
| Financing duration. | Until the due date of payment on 03/03/2026. The payment mechanism will be as follows:
1. Payment due on 15/01/2026 in the amount of (45,000,000) Forty-Five Million Riyals. 2. Payment due on 01/03/2026 in the amount of (10,430,397) ten million four hundred and thirty thousand three hundred and ninety-seven riyals. 3. Payment due on 03/03/2026 in the amount of (2,603,356.32) Two Million Six Hundred Three Thousand Three Hundred and Fifty-Six Riyals and Thirty-Two Halalas. 4. Payment due on 03/03/2026 in the amount of (49,905,561) Forty-Nine Million Nine Hundred Five Thousand Five Hundred and Sixty-One Saudi Riyals. If the Company fails to make the payments in accordance with paragraph (1) within three calendar days of the arrival of any of the due dates, all payments shall be the Company's liability without any consideration of the rest of the due dates. |
| Guarantees offered for the financing | Promissory notes for the full amount of the loan |
| Financing objective | To pay small creditors and current or former employees whose applications were included in the list of claims issued by a decision of the Fourth Circuit of the Commercial Court in Jeddah. |
| Related Parties | Mr. Turki bin Ibrahim bin Mansour Al-Rajhi (Non-Executive Board Member), This contract will be presented to the General Assembly for a vote. |
| Additional Information | The company is pleased to announce the approval by the Zakat, Tax and Customs Authority of its plan to settle outstanding zakat receivables for a nine-year period, in quarterly installments, comprising 36 credits, as disclosed on the Tadawul website on December 24, 2025. Agreements have also been reached with some creditors, and the company plans to settle these receivables using proceeds from rights issues and through the issuance of sukuk. The company would like to clarify to its valued shareholders that the remaining amount of claims listed in the Commercial Court's decision is SAR 468,009,721.69, excluding claims from the Zakat, Tax and Customs Authority, which have been rescheduled. |
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