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Saudi Cable Co. Announces an update on The company's previous announcement about approving the list of creditors’ claims
| Element List | Explanation |
|---|---|
| Introduction | Referring to the Saudi Cable Company’s announcement on the Tadawul website dated 23/09/1445 corresponding to 02/04/2024 related to the latest developments of the company’s previous announcement of approving the list of creditors’ claims, we would like to inform our shareholders that an urgent request was submitted on 26/12/1445 AH corresponding to02/07/2024 AD to the Fourth Circuit of the Commercial Court in Jeddah to clarify what the company’s management found of violations in the list of creditors’ claims deposited by the bankruptcy trustee in the Fourth Commercial Circuit of the Commercial Court in Jeddah and reviewed by the previous management and approved by the Commercial Court on 04/02/2024 AD, the court considered the submitted objection then the discussion was held on what was raised in the objection and set a session to consider it on 14/03/1446 AH corresponding to 17/09/2024 AD, which was attended and the session was adjourned to an unspecified date, the Circuit will decide to hold a court session according to their procedures. Referring to the company’s announcement dated 07/08/2024 regarding the submission of the financial restructuring proposal of Saudi Cables Company to the Fourth Commercial Circuit of the Commercial Court in Jeddah, the company would also like to inform its shareholders that it attended a session on 19/08/2024 AD to take a decision on the amended proposal. The department has decided to keep the company's request to vote on the amended proposal until the list of claims is decided. Any subsequent developments will be announced in time. |
| Previous Announcement | The company's previous announcement about approving the list of creditors’ claims |
| Date of Previous Announcement on Saudi Exchange’s Website | 2024-04-02 Corresponding to 1445-09-23 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | An urgent request was submitted on 26/12/1445 AH corresponding to02/07/2024 AD to the Fourth Circuit of the Commercial Court in Jeddah to clarify what the company’s management found of violations in the list of creditors’ claims deposited by the bankruptcy trustee in the Fourth Commercial Circuit of the Commercial Court in Jeddah and reviewed by the previous management and approved by the Commercial Court on 04/02/2024 AD, the court considered the submitted objection then the discussion was held on what was raised in the objection and set a session to consider it on 14/03/1446 AH corresponding to 17/09/2024 AD, which was attended and the session was adjourned to an unspecified date, the Circuit will decide to hold a court session according to their procedures. Referring to the company’s announcement dated 07/08/2024 regarding the submission of the financial restructuring proposal of Saudi Cables Company to the Fourth Commercial Circuit of the Commercial Court in Jeddah, the company would also like to inform its shareholders that it attended a session on 19/08/2024 AD to take a decision on the amended proposal. The department has decided to keep the company's request to vote on the amended proposal until the list of claims is decided. Any subsequent developments will be announced in time. |
| 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 now, the financial impact will be disclosed later if it exists. |
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 73.5
Net Change -1.3 (-1.74%)
Value Traded (Sar) 4,454,905.4
Volume Traded 60,511
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