Saudi Cable Co. announces that it will apply for an Extraordinary General Assembly, as follows:
1. Based on Article (90) of the Companies Laws and upon receipt of a letter from a number of Shareholders who collectively own more than (5%) of the Company’s capital, the following is requested:
i. Presentation and discussion of the Company’s plan for the next 6 months.
ii. Vote on removing some of the current Board members and hold them accountable.
iii. Vote on the filing of liability proceedings against the former Administration under the Chairman, Mr. Meyassar A. Nowailati, and his members from the period 14/01/2018 to the period 13/01/2021.
2. Referring to the announcement at Tadawul on 23/03/1444H corresponding to 19/10/2022, the Company will request from its valued Shareholders to vote on the transfer of part of the Company’s loans to equity shares in favor of some creditors and a number of those wishing to invest in the purchase of those loans after taking the approvals of the CMA and the relevant competent authorities. Any further developments will be announced in due course when the financial advisor is appointed.
