Tihama to vote on revised allocation of rights issue proceeds on June 23

Logo of Tihama Advertising and Public Relations Co. 

Tihama Advertising and Public Relations Co. invited its shareholders to attend a general assembly meeting on June 23 to vote on the amendments to the allocation of SAR 350 million rights issue proceeds.

 

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In a statement to Tadawul, the company said that the amended proceeds allocation will be as follows:

 

Amendments to Allocation of Proceeds from Rights Issue (SAR mln)

Item

Prospectus

Actual Spending

Recommended

Variance

Change (%)

Working Capital

12.85

12.91

22.67

9.82

76 %

Investments,

acquisitions, and

partnerships

154.00

165.50

174.00

20.00

13 %

Expansion and restructuring of retail

segment

33.59

17.26

17.26

(16.33)

(49%)

Expansion of education segment

 

15.97

15.40

25.40

9.43

59 %

Expansion in the production segment

(events and entertainment)

7.99

0.60

3.50

(4.49)

(56%)

Expanding the network of advertising sites

17.45

--

--

(17.45)

(100%)

Final court judgments dues

28.45

15.60

28.45

--

--

Settlement of loans

20.91

20.75

20.75

(0.16)

(1%)

Dues to government agencies

31.81

6.76

31.81

--

--

Offering Costs

26.99

26.17

26.17

(0.82)

(3%)

 

In September 2024, Tihama announced the issuance of a board of directors’ resolution approving amendments to the allocation of proceeds from its rights issue offering, according to Argaam data.

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