The Saudi Stock Exchange (Tadawul) announces changing the status of Saudi Cable Co. as a result of its announcement of reducing its accumulated losses below 50%
Wednesday, June 08, 2016 at 9:10 AM
Wed Jun 8, 2016 09:10
Based on the instructions and procedures related to listed companies with accumulated losses reaching 50% or more of its capital, issued by the board of the Capital Market Authority (CMA) pursuant to its resolution number 4-48-2013 dated 15/01/1435H corresponding to 18/11/2013G, and as a result to the announcement of Saudi Cable Co. on Tuesday 07/06/2016G that its accumulated losses has been reduced below (50%) of its capital, the Saudi Stock Exchange Company (Tadawul) under the aforementioned instructions and procedures will do the following:
1.Suspend trading of the company’s shares for two hours from session opening of Wednesday 08/06/2016G , while orders maintenance will start from 11:30.
2.Remove the accumulated losses flag mark from the exchange website.