In a recent development, the Board of Directors passed a resolution on August 8, 2023, along with a letter addressed to the Saudi Stock Exchange (Tadawul), requesting the trading of the company's shares over the counter. Following due process, the Saudi Stock Exchange (Tadawul) granted approval on August 23, 2023. As a result, the Saudi Cable Company Share is set to commence trading over the counter starting on Thursday, August 24, 2023 AD.
In a recent statement, the company shed light on its decision to pursue over-the-counter (OTC) trading for its shares. The move comes as a direct response to the ongoing suspension of share trading, which has been caused by delays in the release of crucial financial results. Specifically, the company has faced setbacks in issuing the financial results for the fiscal year ending on December 31, 2022 AD, as well as the first and second quarters of 2023 AD.
In a move aimed at maximizing shareholder value, the esteemed Board of Directors has made a strategic decision.
Trading on the Saudi Stock Exchange (Tadawul) will resume once the cause of its suspension has been rectified.
The company has provided reassurances to the public, stating that it is diligently working towards expediting the resumption of stock trades.
