Saudi Cable to start e-voting on capital cut, hike on Feb. 5

Saudi Cable Co.’s shareholders will start, on Feb. 5, the electronic voting on the agenda items of the upcoming extraordinary general assembly meeting (EGM) to be held on Feb. 9, according to a bourse filing.

Shareholders will 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.

They will also vote on a capital hike through SAR 500 million rights issue.