Tihama Advertising & Public Relations Co. postponed its extraordinary general meeting (EGM), slated for April 16, 2020 due to the precautionary measures to combat the outbreak of the coronavirus, the company said in a bourse statement on Wednesday.

 

Tihama’s shareholders were set to vote on capital hike to SAR 175 million from SAR 75 million through SAR 100 million rights issue during the meeting, Argaam reported.

 

The EGM, earlier scheduled for March 29, was postponed to April 16, 2020 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

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Tihama postpones EGM to vote on capital hike until April 16

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