Tihama shareholders to discuss SAR 350 mln rights issue on Feb. 26

05/02/2023 Argaam

Tihama shareholders to discuss SAR 350 mln rights issue on Feb. 26

Logo of Tihama Advertising and Public Relations Co.

Shareholders of Tihama Advertising and Public Relations Co. will discuss the board's recommendation on increasing capital through a SAR 350 million rights issue, during an extraordinary general meeting (EGM) to be held on Feb. 26, according to a statement to Tadawul.

 

Capital Hike Highlights

Capital after Reduction

SAR 50 mln

Number of Shares

5 mln

Capital Hike (%)

700%

Capital after Increase

SAR 400 mln

Number of Shares after Increase

40 mln

Reason of Increase

Financing expansion plans and future investments, as well as supporting working capital and paying financial obligations

Method of Increase

Offering 35 mln ordinary shares at a total value of SAR 350 mln

Record Date

Feb. 26, 2023 (Shareholders of record who are registered with Edaa at the end of the second trading day following the EGM date)

 

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