Riyadh – Mubasher: The Middle East Specialised Cables Company (MESC) said a procedural request was issued by the Amman Court of First Instance to convert the precautionary seizure into an executive seizure of the funds belonging to the convicted party, the Middle East Specialized Cables Company (MESC Jordan), which is registered with MESC Saudi and amounting to SAR 11.905 million.
The President of the Court of Execution requested the transfer of these amounts to the account of the executive case, according to a bourse filing on Monday.
“Given that these amounts are recorded in our books, the company does not see any expected financial impact on the company's business results from this procedure,” MESC said.
In October 2019, MESC announced receiving an order from Jordan’s Amman Court requesting the seizure of the movable and immovable funds of MESC Jordan.
