Tihama says financial reorganization plan submitted to Riyadh Commercial Court

27/09/2023 Argaam

Tihama says financial reorganization plan submitted to Riyadh Commercial Court

Logo of Tihama Advertising and Public Relations Co.

Tihama Advertising and Public Relations Co. said that the Secretary of the Financial Reorganization Procedure, Osama Al-Sudais, submitted today, Sept. 27, the financial reorganization proposal to the Commercial Court in Riyadh. 

 

In a statement on Tadawul, the company noted that any fundamental developments in this regard will be announced later.

 

According to data compiled by Argaam, Tihama announced in December 2022 that the Commercial Court in Riyadh issued a ruling on opening the financial reorganization procedures for the company.

 

The 150-day grace period granted by the commercial court to open the financial reorganization procedures expired on May 6, 2023. It was, however, extended for a similar period until Sept. 29, 2023. 

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