Saudi Cable board authorizes management to sign MoU with investors to buy part of company loans

19/10/2022 Argaam

Saudi Cable board authorizes management to sign MoU with investors planning to buy part of company’s loans

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Saudi Cable Co.’s board of directors approved today, Oct. 19, authorizing the management to sign a memorandum of understanding (MoU) with the investors willing to buy a part of the company’s loans in return for the issuance of shares in their favor.

 

The board also authorized it to make a recommendation in this regard to the extraordinary general meeting (EGM) after obtaining the approvals of the Capital Market Authority and government authorities, Saudi Cable said in a statement to Tadawul.

 

The company will announce updates on appointing a financial advisor and submitting the relevant file to the market regulator, Saudi Cable added.

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