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Saudi Cable Company Announces the Latest Developments Regarding Its Previous Announcement Concerning the Lawsuit Filed Against Rawafed Al-Mustaqbal Company
| Element List | Explanation |
|---|---|
| Introduction | With reference to the announcement of the Saudi Cable Company on the Tadawul website dated 15/08/1447AH (corresponding to 03/02/2026AD) regarding the lawsuit filed against Rawafed Al-Mustaqbal Company, In order to cancel a contract of a right transfer against the payment of a debt between Rawafed Al-Mustaqbal Company, Noble Resources International Pte Ltd and Saudi Cable Company, the Company would like to announce to its valued shareholders the following: 1. On 28 Shaaban 1447 AH, a judicial session was attended at the Fifth Circuit of the Commercial Court in Jeddah, and the court ruled (the first instance ruling) that the Commercial Court in Jeddah does not have jurisdiction spatially to hear this case, the judgment deed was received on 12 Ramadan 1447 AH. 2. On 22 Ramadan 1447 AH the company filed its objection to the first instance judgment with the Court of Appeal. 3. On 05 Dhu al-Qi ‘Dah 1447 AH, the appeal session was attended, and the Third Appellate Circuit of the Commercial Court in Jeddah ruled to accept the appeal in form and substance, and to cancel the first instance judgment issued by the Fifth Circuit of the Commercial Court in Jeddah and return the case to it. |
| Previous Announcement | The Company's Previous Announcement Including the lawsuit filed against Rawafed Al-Mustaqbal Company |
| Date of Previous Announcement on Saudi Exchange’s Website | 2026-02-03 Corresponding to 1447-08-15 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The Company would like to announce to its valued shareholders the following: 1. On 28 Shaaban 1447 AH, a judicial session was attended at the Fifth Circuit of the Commercial Court in Jeddah, and the court ruled (the first instance ruling) that the Commercial Court in Jeddah does not have jurisdiction spatially to hear this case, the judgment deed was received on 12 Ramadan 1447 AH. 2. On 22 Ramadan 1447 AH the company filed its objection to the first instance judgment with the Court of Appeal. 3. On 05 Dhu al-Qi ‘Dah 1447 AH, the appeal session was attended, and the Third Appellate Circuit of the Commercial Court in Jeddah ruled to accept the appeal in form and substance, and to cancel the first instance judgment issued by the Fifth Circuit of the Commercial Court in Jeddah and return the case to it. |
| 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 181.6
Net Change 0.6 (+0.33%)
Value Traded (Sar) 18,869,758.4
Volume Traded 103,418
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