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Saudi Cable Company announces the latest developments for the Company's announcement regarding postpone the opening of the financial restructuring procedure
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SAUDI CABLE
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1444/07/17 08/02/2023 08:13:19
| Element List | Explanation |
|---|---|
| Introduction | 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. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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