Saudi Cable says strategic plan, debt capitalization are proposals

Logo of Saudi Cable Co.

Saudi Cable Co. said that the company’s strategic plan, debt capitalization, unwillingness to invest outside the Kingdom and the cost of lending, mentioned by Managing Director Nael Fayez in a TV interview, are proposals intended to work through partnerships between the executive management, board of directors and several consulting entities.

In a statement to Tadawul, the firm said the proposals will be submitted to the financial restructuring trustee upon appointment.

These proposals are contingent on the trustee’s approval, who will be named by the court to undertake the financial restructuring procedure.

Saudi Cable will announce the updated status as soon as the trustee adopts the proposals.

Any other substantive developments will be disclosed in due course, the statement said.

Saudi Cable plans to reach the break-even point in the next five years and then turn to profit, Fayez said, expecting the cable producer to break even between Q4 2025 and Q1 2026, Argaam reported earlier.