Logo of Tihama Advertising and Public Relations Co.
Tihama Advertising and Public Relations Co. filed, on Sept. 18, for the approval of the Capital Market Authority (CMA) on a capital increase via a SAR 350 million rights issue, according to a bourse filing.
Relevant updates will be duly revealed, the statement added.
Tihama’s shareholders approved a capital cut by 71.43% to SAR 50 million from SAR 175 million, during the extraordinary general meeting (EGM) held on Feb. 23, according to Argaam’s available data.
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Capital Increase Details |
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Capital After Reduction |
SAR 50 mln |
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Number of Shares |
5 mln |
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Capital Increase Percentage |
700% |
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New Capital |
SAR 400 mln |
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Number of Shares |
40 mln |
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Reason |
To finance expansions, future investments, boost the working capital and settle financial obligations. |
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Method |
Addition of35 mln shares |
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Record Date |
Shareholders of record on the EGM date, and those registered with Edaa on the second trading day following the EGM date to be determined later. |
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