Change Kafalat

Dear All

My Iqama Expire today 24th August 2016, My existing company agree to give me Transfer, but Problem is that My new company Kafeel is not in city so he can't send the request for Transfer today so " Is it possible that New Kafeel send request for Transfer after my iqama epire and Existing Kafeel Approve that Request. If I renew my iqama existing company get 3500 SAR for Iqama renewal, and I dont have enough money for it.
Please give me appropriate Reply and Should be Authentic as per Saudi Labour Law..
Thanks All

Your iqama will be renewed first and then the sponsorship transfer process will take place.