| Element List |
Explanation |
| Introduction |
Saudi Cable Company announces that it has provided a bank guarantee from the Saudi Investment Bank to the Saudi Industrial Development Fund "the Fund" in the amount of 106,350,000 (one hundred and six million three hundred and fifty thousand) Saudi Riyals against the indebtedness of the Saudi Cable Company in favor of the Fund to be liquidated by the Fund in the event that the Company does not pay its dues before 01/12/2026, or in the event of cancellation of the Company's request to increase its capital by offering priority rights for any reason, and this guarantee shall remain valid and effective until the date of 25/12/2026G, and it can be extended upon a written request from the Fund for a period not exceeding (365) days from the original date of expiry of the guarantee or from the date of expiry of subsequent extensions, and The Saudi Investment Bank submitted the bank guarantee offer on 14/01/2026G, and the Fund approved the acceptance of the bank guarantee on 08/08/1447H corresponding to 27/01/2026G. |
| Date of obtaining the funding |
2026-01-14 Corresponding to 1447-07-25 |
| Financing entity |
The Saudi Investment Bank |
| Financing amount. |
106,350,000 (one hundred and six million three hundred and fifty thousand) Saudi Riyals is a bank guarantee without interest or fees. |
| Financing duration. |
The bank guarantee shall remain valid and effective until 25/12/2026, and may be extended upon a written request from the Fund for a period not exceeding (365) days from the original date of expiry of the original guarantee or from the date of expiry of subsequent extensions. |
| Guarantees offered for the financing |
A personal guarantee was provided to the bank by Mr. Ibrahim bin Mansour Al-Rajhi for the full amount. |
| Financing objective |
In exchange for the indebtedness of the Saudi Cable Company in favor of the Fund, the Fund will benefit from the bank guarantee through liquidation in the event that the Company does not pay its dues before 01/12/2026, or in the event of cancellation of the Company's request to increase its capital by offering priority rights for any reason. |
| Related Parties |
Mr. Turki bin Ibrahim bin Mansour Al-Rajhi (Non-Executive Board Member). |
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