Corrective Announcement from Saudi Cable Company regarding the call for an Extraordinary General Assembly
|Date of Publishing the Previous Announcement Sought to be Corrected on Tadawul’s Website||2022-11-07 Corresponding to 1444-04-13|
|Hyperlink to the Previous Announcement||Click Here|
|Incorrect statements in the previous announcement||1. Based on Article (90) of the Companies Laws and upon receipt of a letter from a number of Shareholders who collectively own more than (5%) of the Company’s capital, the following is requested:|
i. Presentation and discussion of the Company’s plan for the next 6 months.
ii. Vote on removing some of the current Board members and hold them accountable.
iii. Vote on the filing of liability proceedings against the former Administration under the Chairman, Mr. Meyassar A. Nowailati, and his members from the period 14/01/2018 to the period 13/01/2021.
|Correct Statement||Saudi Cable Co. wishes to clarify to its valued shareholders that it has received information from the company’s legal advisor regarding the verification of the completion of the statutory requirements for the first item, his statement was as follows: “it turns out that the shareholders’ representative who owns more than 5% of the Company’s capital does not have legitimate shareholder agencies. Thus, shareholders’ request to convene an extraordinary general assembly is unacceptable because of incomplete statutory requirements.”|