Saudi Cable shareholders to discuss capital increase, decrease on Feb. 3

Logo of Saudi Cable Co.

Saudi Cable Co.’s shareholders will discuss capital increase and decrease during an online meeting on Feb. 3, according to a bourse filing.  

The board members will also answer shareholders’ inquiries during the meeting.  

Shareholders of record at the Securities Depository Center (Edaa) by the end of the trading session before the meeting are eligible to attend the meeting, the statement added. 

The cable manufacturer’s shareholders will attend an extraordinary general assembly meeting (EGM) on Feb. 9, to vote on a board recommendation of a 27.26% capital cut from SAR 360.61 million to SAR 262.31 million to restructure the company’s capital and offset accumulated losses.