Saudi Cable Company is pleased to inform its shareholders that, thanks to the concerted efforts of the company's Board of Directors and executive teams, and in collaboration with a select group of financial, administrative, and legal advisors, both locally and internationally, significant progress has been made towards financial restructuring. This effort has been conducted under the direct supervision of the Financial Restructuring Trustee.
The company conducted a thorough evaluation of its current situation, taking into account various internal and external factors, as well as future prospects and potential impacts. This comprehensive analysis aimed to achieve the overarching goal of advancing the company's operations and meeting its obligations while safeguarding the interests of its shareholders and ensuring its continuity.
On 02/09/1445 corresponding to 12/03/2024, Saudi Cable Company submitted the Financial Restructuring Procedure Proposal to the FRP Trustee appointed by the (Fifth) Appeals Chamber in the Commercial Court in Riyadh for Case No. (256) of 1444 AH dated 11/18/1444. Any significant developments related to this process will be promptly announced in due course.
