- Saudi Cable Company shares details of the long legal battle that led to the Court of Appeal in Turkey overturning the bankruptcy decision against its subsidiary Elimsan. The decision marks a significant milestone in the company's journey to protect its investments in Turkey.
- The Court of Appeal's ruling rendered the bankruptcy decision unenforceable, allowing Elimsan to resume normal operations under the supervision of the board of directors and company officials. This outcome ends the reign of the bankruptcy manager and restores control to the company's management team.
- Saudi Cable Company remains committed to its strategy of exiting investments in Turkey, as previously announced in March 2024. The decision to exit the Turkish market has been reflected in the company's financial provisions, ensuring minimal financial impact during this transition period.

In a turn of events that underscores the resilience and determination of Saudi Cable Company, the Turkish Court of Appeal has delivered a historic verdict in favor of the company by overturning the bankruptcy decision against Elimsan. The legal battle, which began with a decision to declare Elimsan bankrupt in June 2024, has now concluded with the Court of Appeal's decision to annul the bankruptcy ruling.

Following the Court of Appeal's decision, Elimsan can now operate without the shadow of bankruptcy looming over its operations. The authority to manage the subsidiary has been restored to the board of directors, marking a new chapter for Elimsan under the guidance of Saudi Cable Company.

Furthermore, Saudi Cable Company reiterates its strategic decision to exit investments in Turkey, with the full value of the Turkish investment provisioned in the company's financial records. The reversal of the bankruptcy decision brings new opportunities for the company's management to make informed decisions about the future of its assets in Turkey, potentially leading to a significant financial impact in the coming months.