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Saudi Cable Company announces the latest updates regarding the previous Company announcement regarding the verdict of the Appeal Court in the case for opening the “Financial Restructuring Procedure”
| Element List | Explanation |
|---|---|
| Introduction | Referring to the previous announcement from the Saudi Cable Company on 18/11/1444 corresponding to 07/06/2023 regarding the verdict of the Appeal Court in the case for opening the “Financial Restructuring Procedure” which was as follows: 1. Repealing the judgment issued by the Fourth Circuit of the Commercial Court in Jeddah. 2. Approval of the opening of the Financial Restructuring Procedure for the company. 3. Appointing Mr. Waleed Sobahi as a trustee to carry out the Financial Restructuring Procedure. 4. Determining the deadline granted to the company by the Fifth Appeal Chamber of the Commercial Court in Riyadh, which is 180 days from the date of opening the procedure to submit the proposal to the Commercial Court in Jeddah. Saudi Cable Company would like to inform its shareholders that the session was attended today, Tuesday 23/09/1445 corresponding to 02/04/2024, and the court ruling was issued, by approving the list of creditors’ claims. And the company will announce any material developments in this regard. |
| Previous Announcement | the previous Company announcement regarding the verdict of the Appeal Court in the case for opening the “Financial Restructuring Procedure” |
| Date of Previous Announcement on Saudi Exchange’s Website | 2023-06-07 Corresponding to 1444-11-18 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | the session was attended today, Tuesday 23/09/1445 corresponding to 02/04/2024, and the court ruling was issued, by approving the list of creditors’ claims. |
| 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 at the moment, the financial impact will be disclosed later if it exists. |
| Additional Information | The Company continues its efforts to implement the Recovery Plan and the Financial Restructuring developed by the Board of Directors and Executive Management to ensure the continuity of the company and its operations to the benefit of its shareholders and creditors and the financial restructuring procedure. |
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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Last Price 138.8
Net Change 0.3 (+0.22%)
Value Traded (Sar) 8,465,104.1
Volume Traded 61,029
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