Najran Cement calls off sukuk holders meeting to amend terms

Najran Cement Co. has called off a meeting of sukuk holders meeting to amend some commercial terms as per the sukuk holders’ request, the company said in a bourse statement.

The cement producer will announce the new terms and meeting date later, the statement added.

The meeting was supposed to take place on Nov. 4 to discuss waiving any right that may result from provisions pertaining to the SAR 400 million sukuk issue, maturing in June 2020, due to non-compliance with the financial terms as per financial statements ending Dec. 31, 2017.