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Riyadh Cables Group Co. announcement regarding receiving a letter form one of the major shareholders to transfer 30 Million shares to two companies 100% owned by the same sharholder.
| Element List | Explanation |
|---|---|
| Announcement Detail | Riyadh Cable Group Company announces that it has received a letter from Mr. Hikmat Saadalden Al-Zaim, in his capacity as one of the company’s major shareholders, stating his desire to reorganize and restructure his personal portfolio and the portfolios of two companies that are 100% owned by the same shareholder, in order to transfer 10 million shares from his personal portfolio to the portfolio of Afaq Al-Hikma Company - a closed joint stock - representing 6.67% of the shares of Riyadh Cables Group Company, as well as transferring 20 million shares from his personal portfolio to the portfolio of Afaq Development Company Limited, representing 13.33% of the shares of Riyadh Cables Group Company. Knowing that both companies are directly owned by the shareholder/Hikmat Saadalden Al-Zaim by 100%, this transfer resulted in a change in the list of major shareholders in Riyadh Cable Group Company. |
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.
Share
Company Performance
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Last Price 134.9
Net Change -1.4 (-1.03%)
Value Traded (Sar) 18,541,914.6
Volume Traded 137,033
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