Thimar creditors approve debt reschedule under financial reorganization plan

12/12/2022 Argaam
A branch of Thimar

A branch of Thimar

Creditors of Thimar Development Holding Co. approved today, Dec. 12, a proposal to reschedule their payments as part of the financial reorganization plan approved previously by Riyadh’s Commercial Court.

 

The company said that attendance rate reached 82.92%, adding that 96.14% approved the proposal, while 3.61% rejected it and 0.25% abstained from voting.

 

Thimar shareholders, in a meeting held yesterday, approved the company's debt rescheduling plan.

 

In November, Thimar obtained the approval of Riyadh’s Commercial Court on postponing creditor payments for 11 months, according to data available with Argaam.

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