| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | With reference to the announcement of the Saudi Cable Company on Thursday 21-04-2022, the company would like to clarify that it was unable to publish its annual financial results ending on 31-12-2021 AD on the (Tadawul) website at the specified time, due to There is a change in the external auditor’s report. The company will announce any developments in this regard as soon as they become available. The Company would like to clarify that the procedures for suspending trading of listed securities will be applied according to the listing rules approved by the CMA Board decision No. (1-10-2019) dated 24-05-1440H corresponding to 30-01-2019 and announced on (Tadawul) on March 25, 2019. |
| Previous Announcement | Announcement of Saudi Cable Company concerning the latest developments on its inability to publish its annual financial statements for the year ending on 31/12/2021, on Tadawul in due time. |
| Date of Previous Announcement on Tadawul’s Website | 2022-04-21 Corresponding to 1443-09-20 |
| Percentage of fulfilled achievement | N/A |
| Event’s Expected Completion Date | N/A |
| Reasons for Exceeding the Announced End Date | Due to There is a change in the external auditor’s report. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | N/A |
| Impact of the Delay on the Company’s Financial Results | N/A |
CERTIFICATIONS & AWARDS
Announcement of Saudi Cable Company concerning the latest developments on its inability to publish its annual financial statements for the year ending on 31/12/2021, on Tadawul in due time.
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | Reference to the Saudi Cable Co. previous announcement on Thursday 28/08/1443H corresponding to 31/03/2022, The Company would like to clarify the reasons behind its inability to publish its annual financial statements for the year ending on 31/12/2021, on Tadawul on time due to after obtaining the draft of financial statements, there is a need to review the zakat provision between the external auditor and the zakat advisor The Company expects that the external auditor will complete the audit work and that the annual financial statements ending on 31/12/2021 will be published before 08/05/2022. The Company would like to clarify that the procedures for suspending trading of listed securities will be applied according to the listing rules approved by the CMA Board decision No. (1-10-2019) dated 24-05-1440H corresponding to 30-01-2019 and announced on (Tadawul) on March 25, 2019. |
| Previous Announcement | Saudi Cable Company announces that it was unable to publish its annual financial results for the period ending on 31-12-2021 on the Tadawul website on time. |
| Date of Previous Announcement on Tadawul’s Website | 2022-03-31 Corresponding to 1443-08-28 |
| Percentage of fulfilled achievement | N/A |
| Event’s Expected Completion Date | 08/05/2022 |
| Reasons for Exceeding the Announced End Date | after obtaining the draft of financial statements, there is a need to review the zakat provision between the external auditor and the zakat advisor |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | N/A |
| Impact of the Delay on the Company’s Financial Results | N/A |
Saudi Cable Co. Announces Appointment of two Audit Committee Members
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | Saudi Cable Company announces that the Board of Directors has approved by Circular Resolution on its meeting held on 4\9\1443H corresponding to 5\4\2022, the recommendation by the Nomination & Remuneration Committee regarding the appointment of: -Mr. Omar Hasan Bahathiq -Mr. Ghaith R. Fayez To be members of the Audit Committee (two independent members of non-Board members), the validity of the appointment under the Committee’s membership shall be effective from the date approved by the first General Assembly to be held until the end of the current session of the Audit Committee, which shall be ending on 13/01/2024. Whilst, Board’s approval may not be deemed final and this appointment shall be presented to the General Assembly at its first meeting for approval. |
| ELEMENT LIST | EXPLANATION |
|---|---|
| Appointed Member Name | Mr. Ghaith Raji Muhammad Fayez |
| Membership Start Date | 2022-04-05 Corresponding to 1443-09-04 |
| Brief Resume of the Appointed Member | Holds a Bachelor’s degree from King Abdulaziz University and a Master’s degree in Business Administration from the University of Manchester. He has more than twenty years of experience in internal auditing. He held the position of Audit Manager of Projects Audits Division at Saudi Aramco and the General Auditor of the Saudi Ground Services Company. Currently, he is the Director of Internal Audit Department at the Saudi Entertainment Ventures. |
| ELEMENT LIST | EXPLANATION |
|---|---|
| Appointed Member Name | Mr. Omar Hasan Omar Bahathiq |
| Membership Start Date | 2022-04-05 Corresponding to 1443-09-04 |
| Brief Resume of the Appointed Member | Internal Audit Manager at Vision International Investment Company. Certified Internal Auditor (CIA), Certified Management Accountant (CMA) and Certified Risk Based Auditor. Holds a Master of Business Administration (MBA) from the IESE Business School in Barcelona and a bachelor’s degree of science in Accounting from King Fahd University of Petroleum & Minerals. |
| ELEMENT LIST | EXPLANATION |
|---|---|
| Date of Board Meeting in which Appointed New Member(s) were Appointed | 2022-04-05 Corresponding to 1443-09-04 |
| Board Approval | The approval of the Board is not final, and this appointment will be presented to the first meeting of the General Assembly for approval. |
Addendum Announcement from Saudi Cable Co. in regards to that it was unable to publish its annual financial results for the period ending on 31-12-2021 on the Tadawul website on time.
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | Reference to the Saudi Cable Company previous today announcement on Thursday 31/03/2022 regarding that it was unable to publish its annual financial results for the period ending on 31-12-2021 on the Tadawul website on time. The company would like to clarify that the procedures for suspending trading of listed securities will be applied according to the listing rules approved by the CMA Board decision No. (1-10-2019) dated 24-05-1440 H corresponding 30-01-2019 and announced on (Tadawul) on March 25, 2019. |
| Date of Posting the Previous Announcement of Development on Tadawul’s Website | 2022-03-31 Corresponding to 1443-08-28 |
| URL of the Previous Announcement | Click Here |
| Change on the Development | The company would like to clarify that the procedures for suspending trading of listed securities will be applied according to the listing rules approved by the CMA Board decision No. (1-10-2019) dated 24-05-1440 H corresponding 30-01-2019 and announced on (Tadawul) on March 25, 2019. |
| Financial Impact on the change | N/A |
| Additional Information | Saudi Cable Company will announce any further development in due course. |
Saudi Cable Company announces that it was unable to publish its annual financial results for the period ending on 31-12-2021 on the Tadawul website on time.
| ELEMENT LIST | EXPLANATION |
|---|---|
| Announcement Detail | Saudi Cable Company would like to announce to the honorable shareholders that it was unable to publish its annual financial results ending on 31/12/2021 on the (Tadawul) website on time due to the failure to complete some of the audit requirements required by the external auditor, knowing that work is under process on providing it as soon as possible. The company expects that the external auditor will complete the audit work and that the annual financial statements ending on 31/12/2021 will be published before 21/4/2022. |
Saudi Cable Co. Announces Resignation of two members of the Audit Committee
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | Saudi Cable Company announces the resignation of two members of the Audit Committee:Mr. Basem Tayseer Hegaz Chairman of the Audit Committee (member from outside the Board) and Mr. Mazen Khalaf Al-Zayer (member from outside the Board)The resignation shall take effect for both as of March 28, 2022 AD. |
| ELEMENT LIST | EXPLANATION |
|---|---|
| Name of Resigning Member | Basem Tayseer Hijaz |
| Resignation Submission Date | 2022-03-28 Corresponding to 1443-08-25 |
| Resignation Effective Date | 2022-03-28 Corresponding to 1443-08-25 |
| Reasons for Resignation | Personal reasons |
| Resigning Member Start Date | 2021-10-13 Corresponding to 1443-03-07 |
| ELEMENT LIST | EXPLANATION |
|---|---|
| Name of Resigning Member | Mazen Khalaf Al Zayer |
| Resignation Submission Date | 2022-03-28 Corresponding to 1443-08-25 |
| Resignation Effective Date | 2022-03-28 Corresponding to 1443-08-25 |
| Reasons for Resignation | Personal reasons |
| Resigning Member Start Date | 2021-10-13 Corresponding to 1443-03-07 |
Saudi Cable Co. Announces on the latest update regarding the transaction of assets purchase; value of 200 million Saudi Riyal for the purpose of reselling them to finance the Company’s working capital.
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | Reference to the Saudi Cable Company previous announcement on 29/06/1443H, corresponding to 01/02/2022, regarding an update on a transaction of assets purchase; value of 200 million Saudi Riyal for the purpose of reselling them to finance the Company’s working capital. To clarify a preliminary judgement by order of execution was issued by the Commercial Court in Jeddah on (Tuesday), (19/08/1443H), corresponding to (22/03/2022), in favor of Saudi Cable Company indicated the termination of the contract concluded between the two parties and enforcing Al-Nawasi Gulf Trading Company repaying to Saudi Cable Company an amount of 6,001,448 (Six million, one thousand four hundred forty eight Saudi Riyal). |
| Previous Announcement | Saudi Cable Company announces the latest update regarding the transaction of assets purchase; value of 200 million Saudi Riyal for the purpose of reselling them to finance the Company’s working capital. |
| Date of Previous Announcement on Tadawul’s Website | 2022-02-01 Corresponding to 1443-06-29 |
| Percentage of fulfilled achievement | None |
| Event’s Expected Completion Date | 22/04/2022 |
| Reasons for Exceeding the Announced End Date | None |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | None |
| Impact of the Delay on the Company’s Financial Results | None |
تدعو شركة الكابلات السعودية مساهميها إلى حضور اجتماع الجمعية العامة غير العادية المتضمنة تخفيض وزيادة رأس مال الشركة (الاجتماع الأول)
Saudi Cable Co. Announces the Results of the Extraordinary General Assembly’s Meeting Approving Decrease of the Capital (Third Meeting)
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | The Board of Directors of Saudi Cable Company is pleased to announce the results of the Extraordinary General Assembly (Third Meeting) held on Sunday, 19/07/1443H corresponding to 20/02/2022 at 6:30 pm |
| City and Location of the Extraordinary General Assembly’s Meeting | Saudi Cable Company’s Head Office, Jeddah – Via means of Modern Technology. |
| Date of the Extraordinary General Assembly’s Meeting | 2022-02-20 Corresponding to 1443-07-19 |
| Time of the Extraordinary General Assembly’s Meeting | 18:30 |
| Percentage of Attending Shareholders | 12.72 |
| Names of the Board of Directors’ Members Present at the General Assembly’s Meeting and Names of the Absentees | – Mr. Abdulrahman Alkhayal (Chairman of the Board) – Mrs. Noha Sulaimani (Vice-Chairman & Managing Director) – Mr. Abdulhadi Abulkhair. – Mr. Saleh Al Shathry – Mr. Meyassar Nowailati – Mr. Ali Al Attas – Mr. Azhar Kenji Apologies were received from the following members of the Board of Directors: – Mr. Nael Fayez |
| Names of the Chairmen of the Committees Present at the General Assembly’s Meeting or Names of Those Attending on their Behalf | All chairpersons of the following committees attended: – Mr. Saleh Al Shathry (Chairman of the Nomination & Remuneration Committee) Mr. Bassem T. Hijaz (Chairman of the Audit Committee). |
| Voting Results on the Items of the General Assembly’s Meeting Agenda’s | 1. Approved the Board’s recommendation regarding decrease of the Company’s capital, as the following: – Company’s capital before the decrease: (360,614,060) Saudi Riyal. – Company’s capital after the decrease: (262,311,060) Saudi Riyal. – Number of Shares before the decrease: (36,061,406) shares. – Number of Shares after the decrease: (26,231,106) shares. – The percentage of the capital decrease: 27.26% of the Company’s capital. – Reasons for capital decrease: Restructuring of the capital in order to write-off (100%) of the accumulated losses as of 31 March 2021, an amount of (98,303,000) Saudi Riyal. – Method of capital decrease: Cancellation a number of (9,830,300) of the Company’s shares, such that, 1 share shall be decreased per 3.6684 share. – Date of decrease: End of the second trading day following the date of the Extraordinary General Assembly meeting that approved the capital decrease. – Impact of Capital decrease on Company’s obligations: Capital decrease will not impact the Company financial obligations. -To amend Article No. (7) of the Company’s Bylaw on Company’s capital. – To amend Article No. (8) of the Company’s Bylaw on shares subscription. 2. Disapproved the Board recommendation regarding Company’s Capital increase through offering of Rights issue, as the following: – Company’s capital before the increase: (262,311,060) Saudi Riyal. – Increase of the Company’s Capital through offering of Rights issue, an amount of (500,000,000) Saudi Riyal. – Company’s capital after the increase: (762,311,060) Saudi Riyal. – Number of Shares before the increase: (26,231,106) shares. – Number of Shares after the increase: (76,231,106) shares. – Reasons for capital increase: Restructuring of the Company’s capital in order to inject new capital to secure working capital to enable the Company to increase operational capacity and support its future activities. – Method of capital increase: Offering and listing of Rights issue (50,000,000) Shares. – Eligibility’s date: Upon approval of this item, eligibility shall be for the Shareholders on the day of the Extraordinary General Assembly convention, who are registered in the Shareholders’ register at the Securities Depository Center (Edaa) in the end of the second trading day following the date of the Extraordinary General Assembly convention. – To amend Article No. (7) of the Company’s Bylaw on Company’s capital. – To amend Article No. (8) of the Company’s Bylaw on shares subscription. |