Tihama files for CMA’s nod on SAR 125 mln capital reduction

10/02/2022 Argaam

Logo of Tihama Advertising and Public Relations Co.

Tihama Advertising and Public Relations Co. filed a request, on Feb. 9, for the approval of the Capital Market Authority (CMA) on a capital reduction by SAR 125 million, according to a bourse filing.

 

The capital decrease is subject to the regulatory approvals, including the approval of the company’s extraordinary general meeting (EGM), the statement added.

 

Relevant updates will be duly revealed.

 

The company’s board of directors recommended a capital reduction by SAR 125 million via cancelling shares, and then capital will be increased by SAR 350 million through a rights issue, data compiled by Argaam showed.

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