Saudi Cable Company announces the decision of its Board of Directors to request the opening of the financial reorganization procedure in order to preserve Shareholders’ rights and the continuity of the Company
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| Announcement Detail | In order to preserve Shareholders’ and creditors’ rights and the continuity of the Company, Saudi Cable Co. announces that the Board of Directors at its meeting held on 01/11/2022, decided to place an order to the competent commercial court for the opening of the financial reorganization procedure. The Board also decided to authorize the Managing Director, Mr. Nael S. Fayez, and the Executive Management to take necessary statutory procedures to give effect to this decision in accordance with the executive regulations of the competent authorities. |
