Tihama disclaims false news about prospective capital hike process

Tihama Advertising and Public Relations Co. issued a disclaimer about what it called false news related to its prospective capital hike process expected to be approved during the extraordinary general assembly meeting (EGM) to be held on July 15, 2020.

The company further explained in a bourse statement that it noticed the dissemination of wrong information on social media, urging shareholders to refer to the official channels such as the company’s website to obtain the information available in the preliminary prospectus or communicate with shareholders’ relations department for any other inquiries.

Tihama also indicated that it seeks legal measures against individuals or institutions that work to falsify information, discredit the company and the process of raising capital, and therefore affect the shares price.

Shareholders have the right to participate in the virtual session to discuss the capital increase process scheduled on July 7, 2020, and submit their inquiries in the presence of the official representatives of Tihama and its financial advisor, the statement added.

Shareholders of Tihama are set to vote on capital hike to SAR 175 million from SAR 75 million through a SAR 100 million rights issue during the extraordinary general meeting (EGM) scheduled for July 15, Argaam reported.