Tihama accumulated losses down to 30% of capital

Logo of Tihama Advertising and Public Relations Co.

Tihama Advertising and Public Relations Co. said accumulated losses fell to SAR 119.82 million as of June 30, 2023, representing 30% of its SAR 400 million capital.

Tihama attributed the decline in losses to increasing its capital by SAR 350 million by issuing 35 million rights shares based on the approval of the extraordinary general meeting held on April 2, 2023, according to a statement to Tadawul.

The company’s capital after the increase reached SAR 400 million as of June 30, 2023.

Procedures and instructions related to Saudi-listed companies with accumulated losses of 20% or more of their capital will apply, the company added.

The following link shows the external auditor’s report stating the financial position of the company after the decrease in accumulated losses.