Saudi Cable shareholders to discuss accumulated losses by Sep. 6

26/07/2018 Argaam

Saudi Cable Co.’s (SCC) board of directors should convene an extraordinary general assembly meeting latest by August 7 to discuss the company’s accumulated losses, the company said in a statement on Tadawul Thursday.

 

In case the meeting is not held by September 6, or shareholders failed to decide over the matter, the company would be liquidated by virtue of law.

 

Earlier, the Saudi-listed firm announced that its accumulated losses have reached SAR 293.5 million, representing 72.6 percent of SAR 404 million capital.

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