| Element List | Explanation |
|---|---|
| Introduction | Referring to the announcement of the Saudi Cable Company on 09/06/1444H corresponding to 02-01-2023 that the application for the opening of the financial restructuring procedure of the Company was successfully registered and the date of the first session was set, Saudi Cable Company wishes to announce to the shareholders that the first session was attended on Tuesday 24/06/1444H corresponding to 17/01/2023.Whereas, 4th division of the court has viewed the lawsuit and the accompanying documents, and has verified that the debtor has fulfilled what was stipulated in the bankruptcy law, its executive regulations, and the information and documents regulations. It was decided to postpone the financial reorganization session, to consider the nomination of the trustees. The session was adjourned, and the court appointed the next session will be on Monday 16 Rajab 1444 AH corresponding to 07 February 2023 AD to consider the case. |
| Previous Announcement | Saudi Cable Company announces the latest developments for the Company’s announcement regarding its application for the opening of the financial restructuring procedure |
| Date of Previous Announcement on Tadawul’s Website | 2023-01-02 Corresponding to 1444-06-09 |
| Percentage of fulfilled achievement | N/A |
| Event’s Expected Completion Date | It is difficult to determine the expected date of completion of this event at this time. |
| Reasons for Exceeding the Announced End Date | The previous announcement did not specify the date of the court’s decision and set the time frame for the submission of the proposal for financial restructuring procedure. |
| 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 during the current period and the financial impact will be disclosed at a later date. |
| Impact of the Delay on the Company’s Financial Results | It is not currently possible to determine the financial impact, and the impact, if any, will be disclosed in a timely manner. |
| Additional Information | The Company wishes to emphasize that it continues to work on the implementation of the Recovery Plan and the financial restructuring established by its Executive Management and Board of Directors, who emphasize that the continuity of the Company and the preservation of its shareholders’ rights are their top priorities. |
CERTIFICATIONS & AWARDS
Saudi Cable Company invites its Shareholders to attend an Extraordinary General Assembly (Third Meeting) in person and via modern technology means
| Element List | Explanation |
|---|---|
| Introduction | Saudi Cable Company’s Board of Directors is pleased to invite the valued shareholders to participate and vote in the Extraordinary General Assembly meeting (Third Meeting) scheduled to be held at 6:30pm, on Monday 15/07/1444H corresponding to 06/02/2023, in person at the Company headquarter and via modern technology means using Tadawulaty.The Board of Directors has recommended to convene the Assembly to vote on the items presented on the agenda. |
| City and Location of the General Assembly’s Meeting | In person at the Company’s main headquarter in Jeddah, Industrial City, and via modern technology means.https://goo.gl/maps/aBeY3BzqWYGusNZK9 |
| URL for the Meeting Location | www.tadawulaty.com.sa |
| Date of the General Assembly’s Meeting | 2023-02-06 Corresponding to 1444-07-15 |
| Time of the General Assembly’s Meeting | 18:30 |
| Attendance Eligibility | Shareholders Registered in the Issuer’s Shareholders Registry in the Depository Centre At the End of the Trading Session Preceding the General Assembly’s Meeting as per Laws and Regulations |
| Quorum for Convening the General Assembly’s Meeting | According to Article (30) of the company’s bylaws, the third meeting will be valid regardless of the number of shares represented therein, after the approval of the competent authority. |
| General Assembly Meeting Agenda | 1. Reviewing and discussing the Board’s report for the financial year ended 31-12-2021.2. Reviewing and discussing the financial statements for the financial year ended 31-12-2021.3. Vote on the auditor’s report for the financial year ended 31-12-2021.4. Vote to absolve the members of the Board of Directors for the financial year ended 31-12-2021.5. Voting on business and contracts between the Company and (Medal Cable Company) in which members of the Board of Directors (Abdulrahman Al-Khayal and Abdulhadi Abu Al-Khair) have an indirect interest: (purchases of raw materials, dividends and bonuses of Board members and others in the form of financing fees on purchases. The duration of the transaction is one year) in the amount of (SAR 32.645.000) for the financial year ended 31-12-2021. (attached)6. Vote on Amendment to (article 3) of the Company’s bylaws, relating to (the purposes of the Company). (attached)7. Vote on amending the Working Regulations of the Nominations and Remuneration Committee. (attached)8. Vote on amending the Board Membership’s Policies, Standards, Procedures and Controls. (attached)9. Vote on the Working Regulation of the Audit Committee. (attached)10. Vote on social responsibility policy. (attached)11. Vote on The Policy of Nominating Members of the Board of Directors and Members of its Committees’ and the Executive Management. (attached) |
| Proxy Form |  |
| E-Vote | Note that the shareholders registered in the Tadawulaty services will be able to vote remotely on the items of the Assembly starting at 01 am on Sunday 11/07/1444H corresponding to 02/02/2023, until the end of the time of the assembly, and registration and voting in the trading services will be available and free for all shareholders using the following link:Home Page – EVoting (any-meeting.com) |
| Eligibility for Attendance Registration and Voting | Eligibility for Registering the Attendance of the General Assembly’s Meeting Ends upon the Convenience of the General Assembly’s Meeting. Eligibility for Voting on the Business of the Meeting Agenda Ends upon the Counting Committee Concludes Counting the Votes |
| Method of Communication | For any further inquiries, please, Contact: Shareholders Affairsvia phone No. (012) 6087500, or email: (Investor.Relations@saudicable.com). |
| Additional Information | The shareholder has the right to authorize another person to attend under written power of attorney, provided that the agent is not a member of the Board of Directors or an employee of the Company, and is certified by chambers of commerce when the shareholder is affiliated with one of them or if the shareholder is a company or corporate institution, a licensed bank or licensed persons in the Kingdom provided that the agent has an account with the bank or licensee who certifies, writes justice or authorized persons for authentication. The shareholder or his/her agent shall provide the Company with a copy of the power of attorney at least two days prior to the meeting of the Assembly and send it to (Investor.Relations@saudicable.com). The agent must present the original power of attorney before the Assembly, and all shareholders/agents must bring the identification. |
| Attached Documents | |
Saudi Cable Company announces that the Extraordinary General Assembly (first and second meeting after an hour) were not be held
| Element List | Explanation |
|---|---|
| Introduction | The Saudi Cable Company announces that the Extraordinary General Assembly meeting (first and second meeting after an hour) were not held on Thursday 12/01/2023, in person presence and through modern technology at the company’s headquarters, due to the lack of the quorum required for convening both meetings to be held, as the attendance percentage for the first meeting reached (11.30%) and (12.39%) for the second meeting. |
| Indicate the date of the non-convened assembly | 2023-01-12 Corresponding to 1444-06-19 |
| City and Location of the General Assembly’s Meeting | In person presence at the company’s headquarters and through modern technology |
| Time of the General Assembly’s Meeting | 19:30 |
| The reason behind non-convening the assembly | The lack of quorum required for convening both meetings. |
| Percentage of Attending Shareholders | The attendance percentage for first reached (11.30%) and reached (12.39%) for the second meeting. |
| The impact of non-convening the assembly upon matters relating to the recommendations of the board of directors on profits or on the work of the External Auditor (where applicable). | Not Applicable |
| The impact of non-convening the assembly upon matters relating to the recommendations of the board of directors capital alterations | Not Applicable |
| Additional Information | It was decided to postpone the assembly and call for a third meeting to be determined and announced later after obtaining the required approval from competent authorities, noting that the third meeting will be held by the shareholders who attended. |
Saudi Cable Company announces the start of electronic voting on the items of the Extraordinary General Assembly meeting (first meeting and second meeting an hour after the first) scheduled to be held in person and through methods of modern technology (Reminder Announcement)
| ELEMENT LIST | EXPLANATION |
|---|---|
| Announcement Detail | With reference to the announcement of Saudi Cable Company on Tadawul website on 28/05/1444H corresponding to 22/12/2022 regarding the invitation of the Board of Directors to the shareholders to attend the Extraordinary General Assembly meeting scheduled for Thursday 19/06/1444H corresponding to 12/01/2023 at 6:30 pm in person at the company’s headquarters and through modern technology. The Board of Directors of Saudi Cable Company is pleased to remind its valued shareholders registered at the Tadawulati website to vote electronically on the Extraordinary General Assembly items. The voting will continue until the end of the Assembly time. Registration for Tadawulati and Voting Services is available for free for all shareholders through the following link: www.tadawulaty.com.sa For any further inquiries, please, Contact: Investor Relations via phone No. (012) 6087500, or email: (Investor.Relations@saudicable.com). |
Saudi Cable Company announces the start of electronic voting on the items of the Extraordinary General Assembly meeting (first meeting and second meeting an hour after the first) scheduled to be held in person and through methods of modern technology
| ELEMENT LIST | EXPLANATION |
|---|---|
| Announcement Detail | With reference to the announcement of Saudi Cable Company on Tadawul website on 28/05/1444H corresponding to 22/12/2022 regarding the invitation of the Board of Directors to the shareholders to attend the Extraordinary General Assembly meeting scheduled for Thursday 19/06/1444H corresponding to 12/01/2023 at 6:30 pm in person at the company’s headquarters and through modern technology. The Board of Directors of Saudi Cable Company is pleased to invite its valued shareholders registered at the Tadawulati website to vote electronically on the Extraordinary General Assembly items. The voting began from today, Sunday 15/06/1444H corresponding to 08/01/2023 at 1:00am. Registration for Tadawulati and Voting Services is available for free for all shareholders through the following link: www.tadawulaty.com.sa For any further inquiries, please, Contact: Investor Relations via phone No. (012) 6087500, or email: (Investor.Relations@saudicable.com). |
Saudi Cable Company announces the latest developments for the Company’s announcement regarding its application for the opening of the financial restructuring procedure
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | Referring to Saudi Cable Company’s announcement on 19/04/1444H corresponding to 13/11/2022 regarding the submission of its application for the opening of the financial restructuring procedure to Jeddah Commercial Court, presented by the legal representative of Bafakih and Nassief Attorneys and Counselors Company, Saudi Cable Company wishes to announce to the shareholders that the application for the opening of the financial restructuring procedure with the Court has been successfully registered on 09/06/1444H corresponding to 02/01/2023, and the request for financial restructuring procedure was transmitted to the 4th Circuit Commercial of Jeddah Commercial Court, and the date of the first session was set on 24/06/1444H corresponding to 17/01/2023. |
| Previous Announcement | Saudi Cable Company announces its application for the opening of the financial restructuring procedure |
| Date of Previous Announcement on Tadawul’s Website | 2022-11-13 Corresponding to 1444-04-19 |
| Percentage of fulfilled achievement | N/A |
| Event’s Expected Completion Date | It is difficult to determine the expected date of completion of this event at this time. |
| Reasons for Exceeding the Announced End Date | The previous announcement did not specify the date of the court’s decision and set the time frame for the submission of the proposal for financial restructuring procedure. |
| 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 during the current period and the financial impact will be disclosed at a later date. |
| Impact of the Delay on the Company’s Financial Results | It is not currently possible to determine the financial impact, and the impact, if any, will be disclosed in a timely manner. |
| Additional Information | The Company wishes to emphasize that it continues to work on the implementation of the Recovery Plan and the financial restructuring established by its Executive Management and Board of Directors, who emphasize that the continuity of the Company and the preservation of its shareholders’ rights are their top priorities. |
Saudi Cable Company announces the latest developments for the announcement of the Board of Directors recommendation to reduce and then increase the Company’s capital by offering priority rights shares
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | Referring to Saudi Cable Company’s announcement on 23/03/1444H corresponding to 19-10-2022, of the Board of Directors’ recommendation to reduce and then increase the capital of the Company by offering priority rights shares; Saudi Cable Company wishes to announce to the shareholders the decision of the Board of Directors on 03/06/1444H corresponding to 27/12/2022 to amend the Board’s recommendation of reducing the capital of the Company, to abolish the recommendation of reducing capital while maintaining the recommendation to increase capital by offering priority rights shares. So the Board’s recommendation after amendment becomes: increase the company’s capital offering priority rights, as follows: Capital before the increase: 66,729,060 riyals Capital after the increase: 346,729,060 riyals Capital increase percentage: 519.61% Number of shares before the increase: 6,672,906 shares Number of shares after the increase: 34,672,906 shares This recommendation was the result of several discussions with the financial advisors, and the Board’s decision to cancel its previous recommendation to reduce the company’s capital based on the developments, in negotiation with a number of investors to purchase some of the company’s debts in exchange for converting them into ordinary shares at the nominal value and company’s debts in exchange for converting them into ordinary shares at the nominal value and developments in the financial restructuring procedure, the retention of the recommendation to increase capital by offering priority rights shares was to provide the liquidity necessary to expand operational processes. The company will make the announcement when there are any substantial developments with respect to the capital raising file. The Company also wishes to clarify to the valued shareholders that if the procedures to increase the Company’s capital are completed, in accordance with the recommendation of the Board of Directors to the Extraordinary General Assembly, it would reduce the ratio of accumulated losses of the Company to below 50% of its capital, in line with the requirements of article 150 of the Corporate Regulations, as well as providing cash to support operating capital and improve the Company’s cash flow. |
| Previous Announcement | Saudi Cable Company announces the Board of Directors’ recommendation to reduce the company’s capital and then increase the company’s capital by offering rights shares |
| Date of Previous Announcement on Tadawul’s Website | 2022-10-19 Corresponding to 1444-03-23 |
| Percentage of fulfilled achievement | N/A |
| Event’s Expected Completion Date | It is difficult to determine the expected date of completion of this event at this time. |
| Reasons for Exceeding the Announced End Date | N/A |
| 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 during the current period and the financial impact will be disclosed at a later date. |
| Impact of the Delay on the Company’s Financial Results | N/A |
| Additional Information | The company will announce any substantial developments in this regard. |
Saudi Cable Company invites its Shareholders to attend a virtual meeting to discuss the Company’s updates via modern technology methods (Reminder Announcement)
| ELEMENT LIST | EXPLANATION |
|---|---|
| Announcement Detail | To ensure the transparency principle of the Company and to affirm the Company’s keenness to adopt positive interaction with Shareholders and keep them informed of the Company’s updates, Saudi Cable Company would like to remind its shareholders of the fourth monthly meeting of the Shareholders meeting announced on Thursday 06/10/2022, on the Saudi Stock Exchange platform (Tadawul), scheduled to take place on Wednesday 28/12/2022, from 5pm to 7pm. The meeting will be held through modern technology methods with Shareholders to discuss the Company’s updates and get the shareholders queries answered by the Managing Director, Mr. Nael S. Fayez. Each Shareholder registered in the Company’s shareholder registry at EDAA is entitled to attend at the end of the trading session preceding the meeting. Link to attend the meeting: http://www.any-meeting.com |
Corrective Announcement from Saudi Cable Company regarding the invitation of its shareholders to attend the Extraordinary General Assembly meeting (First Meeting)
| ELEMENT LIST | EXPLANATION |
|---|---|
| Date of Publishing the Previous Announcement Sought to be Corrected on Tadawul’s Website | 2022-12-22 Corresponding to 1444-05-28 |
| Hyperlink to the Previous Announcement | Click Here |
| Incorrect statements in the previous announcement | 1. Attach supporting documents for the fifth item of the Assembly’s Agenda in Arabic instead of English in the announcement published in English language. 2. Attach one of supporting documents for the fifth item of the assembly’s agenda in Arabic, incorrectly. (The fifth item: Voting on business and contracts between the Company and (Medal Cable Company) in which members of the Board of Directors (Abdulrahman Al-Khayal and Abdulhadi Abu Al-Khair) have an indirect interest: (purchases of raw materials, dividends and bonuses of Board members and others in the form of financing fees on purchases. The duration of the transaction is one year) in the amount of (SAR 32.645.000) for the financial year ended 31-12-2021.) |
| Correct Statement | 1. Attach supporting documents for the fifth item of the Assembly’s Agenda in English language. 2. Attach the correct supporting documents for the fifth item of the assembly’s agenda in Arabic. (The fifth item: Voting on business and contracts between the Company and (Medal Cable Company) in which members of the Board of Directors (Abdulrahman Al-Khayal and Abdulhadi Abu Al-Khair) have an indirect interest: (purchases of raw materials, dividends and bonuses of Board members and others in the form of financing fees on purchases. The duration of the transaction is one year) in the amount of (SAR 32.645.000) for the financial year ended 31-12-2021.) |
| Attached Documents |  |