Tadawul-
Element List Explanation
Announcement Detail With reference to the announcement of the Saudi Cable Company on the Tadawul website dated 12/04/1444H corresponding to 06/11/2022G regarding the issuance of the Board of Directors' decision to open the financial restructuring procedure, and the Company's announcement on Tadawul dated 19/04/1444H corresponding to 13/11/2022G related to its submission of the request to open the financial restructuring procedure with the competent authority, and the Company's announcement on Tadawul dated 18/11/1444H corresponding to 07/06/2023G regarding the issuance of the appeal judgment approving the opening of the financial reorganization procedures of the company, the Saudi Cable Company would like to announce to its valued shareholders that after studying the financial and legal situation by the Board of Directors and the absence of all legal, operational and financial symptoms and obstacles of the company, and believing in a future vision for the company that includes the stage of recovery and growth at the near and long levels, the Board of Directors decided on 03/06/1447 H corresponding to 24/11/2025G to approve the application to the competent Commercial Court to request the termination of the financial restructuring procedure, and the request to terminate the financial restructuring procedure was submitted to the Fourth Circuit of the Commercial Court in Jeddah on 03/06/1447 AH corresponding to 24/11/2025 AD. With reference to the Company's announcement on Tadawul dated 05/03/1447 AH corresponding to 28/08/2025 AD regarding the Company's submission of its objection to three claims (the claim of Tathmeer Investment Company, the claim of Rawafed Al-Mustaqbal Company, and the claim of Zainal Industries Company Limited), Saudi Cable Company would like to clarify to its valued shareholders that a hearing has been set for a date 06/05/1447 AH corresponding to 28/10/2025 AD and the Company has not been present, and that if the court approves the termination of the financial reorganization procedure, the Company's request to object to the three claims will be cancelled, if the court does not accept the termination of the financial reorganization procedure, the financial reorganization procedure will continue, and the objection to the three claims will also continue. The Company would like to make it clear to its valued shareholders that if the Court accepts its request to terminate the financial reorganization procedure, this shall not prevent any interested party, whether creditors, debtors or the competent authority from applying to the Court to open any of the bankruptcy proceedings in the event that the conditions set forth in the Bankruptcy Law apply to the Company.
The financial impact of terminating the financial restructuring procedure will be determined later after the exit from the financial restructuring procedure, if the court approves the company's application. Any further material developments will be announced in due course.