13 March Meeting Postpones Financial Recovery for Saudi Cables

Today, Monday, Saudi Cable Company announced that the court postponed the financial reorganization session to Monday 21 Shaaban, 1444 AH, corresponding to March 13, 2023 AD, to take in consider the appointment of trustees.

The company said in a statement on “Saudi Tadawul”, that the third session was held today, Monday 08/07/1444 AH, corresponding to 27/02/2023 AD, and the department indicated that a number of trustees had written for the nomination and not enough declarations were received for the nomination.

In January 2022, the company “Saudi Cables” filed a request to successfully open the company’s financial recovery procedure and set the date for the first session.

He added that it is difficult to determine now the expected date for the completion of this event.

He indicated that he is continuing to work on the implementation of the financial rescue and restructuring plan established by his executive management and board of directors, who emphasize that the continuity of the company and the protection of the rights of its shareholders are their top priorities.