| ELEMENT LIST | EXPLANATION |
|---|---|
| Announcement Detail | Saudi Cable company announces its intent to organize a meeting via means of the modern technology with the respective Shareholders to discuss the decrease and increase of the capital and answering of the Shareholders inquiries by the Members of the Board of Directors, the meeting shall be on Thursday, 02/07/1443H, corresponding to 03/02/2022, at (05:30) pm, the attendance eligibility shall be for each Shareholder registered in the Company’s Shareholders registry at the Securities Depository Center (Edaa) in the end of the trading session preceding this Meeting. The link for attending the meeting: http://www.any-meeting.com/?id=8788995929 |
CERTIFICATIONS & AWARDS
Saudi Cable Co. Announces its accumulated loses reaching 63.01 % of its capital
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | On January 31, 2022, the Board of Directors notified that the company’s accumulated losses reached 63.01% of the capital |
| Date of Realization of the Loss | 2022-01-31 Corresponding to 1443-06-28 |
| Date of Notifying the Board of Directors with the Accumulated Loss | 2022-01-31 Corresponding to 1443-06-28 |
| Amount of the Accumulated Losses | Million SR 227.2 |
| Percentage of the Accumulated Losses out of the Capital (%) | 63.01 % |
| Major Reasons Leading to the Losses | 1. Lower volume in current period as compared to the same period of last year due to unavailability of the working capital in order to secure inputs for the production.2. Increase in the finance cost in current period compared to the same period of the last year as a result of restructuring of some previous debts.3. Decrease of other incomes in current period as compared to the same period of the last year.4. Allocating provision for the deferred tax associated with a subsidiary Company in Turkey. |
| Measures to be Taken by the Company in Regard to Such Losses | Procedures and Instructions Applicable on Companies Listed in Saudi Capital Market Whose Accumulated Losses Reach 50% or more out of the Capital Thereof will be Applied |
| Application of the Procedures and Instructions | Procedures and Instructions Applicable on Companies Listed in Saudi Capital Market Whose Accumulated Losses Reach 20% or more out of the Capital Thereof will be Applied |
| Reference to additional procedures or instructions | The Board also recommended to take the required procedures and complying with the relevant laws and regulations with regard to companies whose losses exceeded 50% of the capital in terms of disclosure and maintaining Shareholders’ rights and interests. |
Company 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
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | Reference to the Saudi Cable Company previous announcement on 07/01/1443H, corresponding to 15/08/2021, 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 judgment was issued by the Commercial Court in Jeddah on Monday, 28/06/1443H, corresponding to 31/01/2022 in favor of Saudi Cable Company indicates 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 6,00,1,448 (Six million, thousand four hundred forty eight Saudi Riyal), further is enforced to return to Saudi Cable Company eight promissory notes at their possession. |
| Date of Posting the Previous Announcement of Development on Tadawul’s Website | 2021-08-15 Corresponding to 1443-01-07 |
| URL of the Previous Announcement | Click Here |
| Change on the Development | A preliminary judgment was issued by the Commercial Court in Jeddah on Monday, 28/06/1443H, corresponding to 31/01/2022 in favor of Saudi Cable Company indicates termination of the contract concluded between the two parties and enforcing Al-Nawasi Gulf Trading Company repaying to Saudi Cable Company an amount of 6,00,1,448 (Six million, thousand four hundred forty eight Saudi Riyal), further is enforced to return to Saudi Cable Company eight promissory notes at their possession |
| Financial Impact on the change | N/A |
| Additional Information | Saudi Cable Company will announce any further development in due course. |
Saudi Cable Co. Announces Measures to be Taken and Time Frames after the Accumulated Losses Thereof Reached 63.01 % of the Capital
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | Reference to Saudi Cable Company announcement on 01/02/2022 regarding its accumulated losses reaching 63.01% of the capital, Saudi Cable Company announces about taking the required legal procedures in this regard. |
| Date of the Posting the Company’s Announcement that the Accumulated Losses Thereof Reached 50% or more of its Capital on Tadawul’s Website | 2022-02-01 Corresponding to 1443-06-29 |
| Date of Notifying the Board of Directors with the Accumulated Loss | 2022-01-31 Corresponding to 1443-06-28 |
| Date the Period given to the Board to Invite the Extraordinary General Assembly for A Meeting Ends as per Article 150 of the Companies Law | 2022-04-01 Corresponding to 1443-08-29 |
| The Deadline for Convening the Extraordinary General Assembly to Address the Accumulated Losses as per Article 150 of the Companies Law | 2022-07-29 Corresponding to 1443-12-30 |
| Non Convening of the Extraordinary Meeting within 45 Days from Board of Directors Knowledge of the Loses or if the Meeting was Convened but No Decision is Taken | Pursuant to the Royal Order No. (15016) on 16/03/1442H, regarding of holding some clauses of the Companies’ Law issued by Royal Decree No. (M/3) on 28/01/1437H, the work with Paragraph No. (2) of Article No. (150) of Companies’ Law has been suspended, which indicates that in case on non-conveying of the Extraordinary General Assembly within 180 days from the date of it came to the knowledge of Board of Directors regarding the accumulated losses (which will expire on (29/07/2022), or in case the General Assembly not resolved to take a decision of the matter, the Company will be lapsed by the force of the law. |
| Additional Information | The reason for the losses is mainly due to the losses resulting from the following operations and effects in the income statements for the year 2021: 1. Lower volume in current period as compared to the same period of last year due to unavailability of the working capital in order to secure inputs for the production. 2. Increase in the finance cost in current period compared to the same period of the last year as a result of restructuring of some previous debts. 3. Decrease of other incomes in current period as compared to the same period of the last year. 4. Allocating provision for the deferred tax associated with a subsidiary Company in Turkey. Noting that, the meeting of the Extraordinary General Assembly will be held by God Willing at 06:30 p.m. on (Wednesday), 8 Rajab 1443H, corresponding to 9 February 2022, via means of modern technology, regarding the decrease and the increase of the capital as included in the items of the Agenda |
Saudi Cable Company Invites the Respective Shareholders to attend a meeting regarding discussing the decrease and the increase of the share capital via means of modern technology.
ELEMENT LIST | EXPLANATION |
| Announcement Detail | Saudi Cable company announces its intent to organize a meeting via means of the modern technology with the respective Shareholders to discuss the decrease and increase of the capital and answering of the Shareholders inquiries by the Members of the Board of Directors, the meeting shall be on Thursday, 02/07/1443H, corresponding to 03/02/2022, at (05:30) pm, the attendance eligibility shall be for each Shareholder registered in the Company’s Shareholders registry at the Securities Depository Center (Edaa) in the end of the trading session preceding this Meeting. The link for attending the meeting: http://www.any-meeting.com/?id=8788995929 |
Saudi Cable Company calls its Shareholders for the necessity to deposit the Investment Certificates in their Investment Portfolio and receive their previous profits (Reminder announcement).
| ELEMENT LIST | EXPLANATION |
| Announcement Detail | Reference to Saudi Cable Company keenness to ensure the rights of its shareholders, and due to the replacement of the certificate system by the investment portfolio system, the Company invites its respective Shareholders who are still holding the Company’s share certificates to the necessity of depositing them in their investment portfolios through handling/ or delivering them to the Saudi Stock Exchange Company “Tadawul” at King Fahad Street – Olaya 6897, Unit No. 15, Riyadh 12211-3388, Phone No.: 920001919 together with the investment portfolio number and a clear copy of the National Identity Card or family Registry in order to expedite the process of disbursing their profits and facilitating the process of trading them by the relevant formal methods. The Company also requests its respective Shareholders who have accrued profits for the previous years that have not yet been received as a result of their failure to contact the underwriter bank or because of their incorrect addresses or account numbers linked to their investment portfolios, to contact the bank to receive them. Shareholders Affairs Department Tel.: 0126087500 E-mail: Investor.Relations@saudicable.com |
Saudi Cable Company invites its Shareholders to attend the Extraordinary General Assembly Meeting regarding Capital Decrease and Increase (First Meeting).
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | The Board of Directors of Saudi Cable Company is pleased to invite the respective Shareholders to participate and vote in the Extraordinary General Assembly Meeting (First meeting) scheduled to be held by God Willing at 06:30 p.m. on Wednesday, 8 Rajab 1443H, corresponding to 9 February 2022, via means of modern technology using Tadawulaty system to ensure the safety of Shareholders and to support the preventive and precautionary efforts and measures by the competent and relevant health authorities to curb the new COVID19 Virus, as an extension of the continued efforts of all government agencies in Saudi Arabia to take the necessary preventive measures to prevent its spreading. |
| City and Location of the Extraordinary General Assembly’s Meeting | Company’s Head office in Jeddah – Via means of modern technology. |
| URL for the Meeting Location | WWW.TADAWULATY.COM.SA |
| Date of the Extraordinary General Assembly’s Meeting | 2022-02-09 Corresponding to 1443-07-08 |
| Time of the Extraordinary General Assembly’s Meeting | 06:30 |
| Attendance Eligibility | Shareholders registered in the Company’s Shareholders registry at the Securities Depository Center (Edaa) in 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 | Pursuant to Article (30) of the Company’s Bylaw, the convention of the Extraordinary General Assembly shall be valid if attended by Shareholders representing at least half of the capital, and if the quorum is incomplete to hold this meeting, a second meeting will be held an hour after the end of the period designated for the first meeting, provided that the invitation for calling the first meeting must include within the announcement the possibility of holding such meeting. Whilst under all situations the second meeting will be valid if attended by Shareholders representing at least a quarter of the capital. If the quorum is incomplete in the second meeting, shall call for a third meeting, and the third meeting will be valid no matter how many shares are represented after the approval of the relevant official Authorities. |
| Meeting Agenda | 1. To vote on the Board’ 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 (Attached).- To amend Article No. (8) of the Company’s Bylaw on shares subscription (Attached).2. To vote on 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 (Attached).- To amend Article No. (8) of the Company’s Bylaw on shares subscription (Attached).- Voting on this item is subject to the Shareholders approval of the first item of EGA’s Agenda regarding the Company’s Capital decrease. |
| Proxy Form | Download |
| E-Vote | Noting that Shareholders registered on Tadawulaty services can vote remotely (on line) on the items of the Assembly Meeting, starting at 10:00 am on Saturday, 4 Rajab 1443H corresponding to 5 February 2022 up to the ending time of the convention of the Extraordinary General Assembly, and the registration and voting via Tadawulaty services is available for free to all Shareholders on the following link. www.tadawulaty.com.sa. |
| Eligibility for Attendance Registration and Voting | Eligibility for registration in attending the Extraordinary General Assembly meeting ends at the convention of the Extraordinary General Assembly. Whilst; the eligibility for voting on the Agenda of the Meeting with respect to the attendees shall end upon the Counting Committee concludes counting the votes. |
| Method of Communication | For any further inquiries, please, Contact: Shareholders Affairs via phone No. (012) 6087500, or email: (Investor.Relations@saudicable.com). |
| Additional Information | N/A |
| Attached Documents | Download Download Download Download |
إعلان إلحاقي من شركة الكابلات السعودية بخصوص النتائج المالية الأولية للفترة المنتهية في 30-09-2021م (تسعة أشهر)
| بند | توضيح |
|---|---|
| مقدمة | الحاقاً لإعلان شركة الكابلات السعودية بتاريخ 27-03-1443هـ الموافق 02-11-2021م بخصوص اعلان الشركة عن النتائج المالية الأولية للفترة المنتهية في 30-09-2021م (تسعة أشهر) |
| تاريخ الاعلان السابق للتطور على موقع شركة السوق المالية السعودية (تداول) | 1443-03-27 الموافق 2021-11-02 |
| رابط الاعلان السابق | اضغط هنا |
| التغير الحاصل على التطوير | 1- الأسباب الرئيسية التي أدت إلى بلوغ الخسائر:- إنخفاض حجم المبيعات خلال الفترة الحالية.- إنخفاض الإيرادات الأخرى خلال الفترة الحالية.2- الإجراءات التي ستتخذها الشركة حيال هذه الخسائر:- تعتزم الإدارة اتخاذ الخطوات الإصلاحية التالية:- المراقبة الصارمة للتكاليف والعمل على تخفيضها للحد الأدنى.- إعادة تقييم الهيكل الإداري و إنعكاسه على الموارد البشرية ، والعمل على تحقيق تسلسل هرمي أكثر مرونة و تحقيق تخفيض في المصاريف.- البحث للحصول على خيارات تمويل رأس المال العامل في شكل حقوق ملكية و السعي للحصول على التسهيلات المالية لزيادة المخرجات (السلع والخدمات) التي تقدمها المجموعة.- العمل على زيادة الإيرادات عن طريق فتح قتوات بيع جديدة و إستهداف عملاء جدد مما سيساعم في تحسين هوامش الربحية. |
| الأثر المالي للتغير الحاصل | لايوجد |
| معلومات اضافية | لايوجد |
Addendum Announcement from Saudi Cable Co. in regards to the interim financial results for the period ending on 30-09-2021 (nine months)
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | Further to the announcement of the Saudi Cable Company on 02-11-2021 regarding the company’s announcement of the interim financial results for the period ending on 30-09-2021 (nine months) |
| Date of Posting the Previous Announcement of Development on Tadawul’s Website | 2021-11-02 Corresponding to 1443-03-27 |
| URL of the Previous Announcement | Click Here |
| Change on the Development | 1- The main reasons that led to the attainment of losses:• Decreased sales volume during the current period.• Decrease in other revenues during the current period.2- Actions to be taken by the company regarding these losses:The company intends to take the following corrective steps:• Strict control of costs and work to reduce them to the minimum.• Re-evaluating the administrative structure and its reflection on human resources, working to achieve a more flexible hierarchy and achieving a reduction in expenses.• Searching for working capital financing options in the form of equity and seeking financial facilities to increase the outputs (goods and services) provided by the group.• Working to increase revenue by opening new sales channels and targeting new customers, which will help improve profit margins. |
| Financial Impact on the change | n/a |
| Additional Information | n/a |