Saudi Cable Co. Announces the Submission of the Decrease of the Company’s Capital Application File and the Increase of the Company’s Capital by Offering Rights Issue Application File to CMA
With reference to the company’s announcement on 01-07-2021 Corresponding to 21-11-1442 regarding the board of directors’ recommendation to reduce the company’s capital by an amount of (98,303,000) Saudi riyals and then increasing the capital by offering of rights issue in the amount of (500,000,000) Saudi riyals, Conditional on obtaining the approval of the relevant official authorities and the extraordinary general assembly.Saudi Cable Co. announces its submission on Monday 23-08-2021 Corresponding to 15-01-1443 the application file for approval to reduce the company’s capital and the application file for approval to increase the company’s capital by offering of rights issue to the Capital Market Authority.
Date of Submitting the Application File to CMA
2021-08-23 Corresponding to 1443-01-15
Application Subject
Reducing the capital by (98,303,000) Saudi riyals, and then increasing the capital by offering of rights issue in the amount of (500,000,000) Saudi riyals.
Date of Announcing Board Recommendation to Increase the Company’s Capital on Tadawul’s Website
2021-07-01 Corresponding to 1442-11-21
Additional Information
The approval of the extraordinary general assembly on the process of increasing the company’s capital by issuing of rights issue is conditional on the extraordinary general assembly’s approval of the proposed reduction of the capital.The company will announce any future developments in this regard in due course.
