Saudi Cable says EGM to be held with attending quorum

15/02/2022 Argaam

Saudi Cable Co. announced in a bourse filing that its extraordinary general meeting (EGM) – a third meeting- will be held with the attending quorum.

 

In case shareholders approve the board’s recommendation to reduce/increase capital, shareholders of record on the EGM date and those registered at Edaa on the second trading day after the EGM will be entitled for the capital reduction/increase.

 

Saudi Cable shareholders were 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.

 

Shareholders would also vote on a capital hike through SAR 500 million rights issue, data compiled by Argaam showed.

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