Referring to the statement of Mr. Nael S. Fayez, Managing Director of Saudi Cable Company, in his television interview on CNBC and the article published at Argaam on Tuesday 10 Jumada Al Thani 1444H corresponding to 03 January 2023, Saudi Cable Company wishes to clarify to the shareholders that the Company’s strategic plan, debt capitalization, unwillingness to invest outside the Kingdom and the cost of lending mentioned in the interview and the news, are proposals planned to work on in partnership between the executive management, the board of directors and a number of consulting entities and will be submitted to the Financial Restructuring Trustee and have not yet been adopted. These proposals are contingent upon the approval of the Trustee and appointed by the court due to the financial restructuring procedure. The company will announce the updated status as soon as the proposals are adopted by the Trustee as well as any other substantive developments in timely manner in accordance with the relevant rules and regulations.
