Tihama Advertising and Public Relations Co.’s shareholders are set to vote on capital hike to SAR 175 million from SAR 75 million through SAR 100 million rights issue during the extraordinary general meeting (EGM) scheduled for April 16, 2020.

 

The EGM, which was scheduled for March 29, has been postponed in line with Capital Market Authority’s (CMA) circular to enable shareholders to participate and vote on related meeting agenda through Tadawulaty system.

 

Key Figures of the Capital Hike

Current capital

SAR 75 mln

Number of shares

7.5 mln shares

Hike (%)

133.3%

New capital

SAR 175 mln

New shares

17.5 mln shares

Rights Issue Details

Number of rights issue shares

10.0 mln shares

Issue price

SAR 10/share

Issue size

SAR 100 mln

Record date

The second trading day following the EGM

Use of Proceeds

To support the company’s expansion plan

Additional Information

Financial advisor/Underwriter

FALCOM Financial Services

 

The capital hike aims to boost the company’s expansion plans. Shareholders of record on the second trading day after the extraordinary general meeting are eligible to the rights issue, the statement added.

 

The EGM, slated for Feb. 19, 2020, was not held due to lack of quorum.

 

The CMA has approved Tihama’s request to increase its capital through SAR 100 million rights issue.

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