Saturday, 2 March 2024

Saudi Cable announces court approval to extend claims period suspension on Tuesday

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Referring to the previous announcement from the Saudi Cable Company on 08/05/1445 corresponding to 22/11/2023 regarding submitting to the court a request to extend the suspension period by the Financial Restructuring Trustee, which ends on 04/12/2023 by 180 days, Saudi Cable Company announced that the hearing session for the request to extend the suspension period for claims has been scheduled on Tuesday 12.12.2023.
The company stated on Sunday on Tadawul that it is difficult to determine the expected date of completion of this event at this moment, declaring that there are no costs associated with the event at the moment, and the financial impact will be disclosed later if it exists.
The Company continues its efforts to implement the Recovery Plan and the Financial Restructuring developed by the Board of Directors and Executive Management to ensure the continuity of the company and its operations to the benefit of its shareholders and creditors and the financial restructuring procedure.
This comes in reference to the previous announcement from the Saudi Cable Company on 22.11.2023 regarding submitting to the court a request to extend the suspension period by the Financial Restructuring Trustee. which end on 04.12.2023, by 180 days.

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