Saudi Cable Company announces the submission of the Financial Restructuring Procedure Proposal to the FRP Trustee

Saudi Cable Company announces the submission of the Financial Restructuring Procedure Proposal to the FRP Trustee

Announcement Detail

Saudi Cable Company is pleased to announce to its shareholders that as a result of the efforts of the company’s Board of Directors and its executive work teams, harnessing its resources and powers, and in close cooperation with an elite group of financial, administrative, and legal advisors - local and international - and under the direct supervision of the Financial Restructuring Trustee, and after the company evaluated the company’s reality and carefully studied the impacting factors, internal, external, future and potential, in order to achieve the desired goal of the advancement and return of the company’s activity and the fulfillment of its obligations, in order to preserve the interests of its shareholders and aiming for its continuity, it has submitted the Financial Restructuring Procedure Proposal on 02/09/1445 Corresponding to 12/03/2024 to FRP Trustee appointed by the (Fifth) Appeals Chamber in Commercial Court in Riyadh for Case No. (256) of 1444 AH dated 11/18/1444, and any essential developments will be announced in then.

Saudi Cable Company announces the submission of the Financial Restructuring Procedure Proposal to the FRP Trustee