Published: Jul 02, 2014
Source: Tadawul


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Saudi Cable Company announces the latest developments regarding the Board of Directors recommendation on increase of the Company share capital through a rights issue

Subsequent to the Company previous announcement on Tadawul website on 1/6/1435 H corresponding to 1/4/2014 regarding the proposal of capital increase, the Company has made significant progress in the restructuring of its obligations with its lenders. It is now in the process of finalizing the draft documentation in relation to the restructuring. On completion of the financial restructuring and after meeting the necessary requirements of CMA and the other related authorities the Company will initiate the process of applying to the CMA for the capital increase through a Rights Issue. Note that it is expected to be completed finalizing the draft documentation in relation to the restructuring on 30/09/2014. 

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