Saudi Cable Co. Announces on the latest update regarding the transaction of assets purchase; value of 200 million Saudi Riyal for the purpose of reselling them to finance the Company’s working capital.
Reference to the Saudi Cable Company previous announcement on 29/06/1443H, corresponding to 01/02/2022, regarding an update on a transaction of assets purchase; value of 200 million Saudi Riyal for the purpose of reselling them to finance the Company’s working capital. To clarify a preliminary judgement by order of execution was issued by the Commercial Court in Jeddah on (Tuesday), (19/08/1443H), corresponding to (22/03/2022), in favor of Saudi Cable Company indicated the termination of the contract concluded between the two parties and enforcing Al-Nawasi Gulf Trading Company repaying to Saudi Cable Company an amount of 6,001,448 (Six million, one thousand four hundred forty eight Saudi Riyal).
Previous Announcement
Saudi Cable Company announces the latest update regarding the transaction of assets purchase; value of 200 million Saudi Riyal for the purpose of reselling them to finance the Company’s working capital.
Date of Previous Announcement on Tadawul’s Website
2022-02-01 Corresponding to 1443-06-29
Percentage of fulfilled achievement
None
Event’s Expected Completion Date
22/04/2022
Reasons for Exceeding the Announced End Date
None
The costs associated with the event, and if they have changed or not with indication of the reasons.
None
Impact of the Delay on the Company’s Financial Results
