Tihama says court session set on June 14 to probe financial restructuring extension file

Logo of Tihama Advertising and Public Relations Co.

Tihama Advertising and Public Relations Co. received today, June 8, a notice from the financial reorganization trustee that a session will be held by the relevant court on June 14 to study the extension request submitted on May 15 for suspending creditors' claims and allowing time to finish the related proposal, according to a statement to Tadawul.

The company also said that the delay in the announcement was due to completing the financial reorganization procedures and preparing the proposal, noting any material developments in this regard will be timely announced.

Tihama revealed earlier that the 150-day grace period granted by the court to prepare the proposal and open the financial reorganization procedures expired on May 6.

In December 2022, Tihama announced that the Riyadh Commercial Court issued a ruling on opening the financial reorganization procedures for the company, Argaam earlier reported.

The court's ruling included appointing Osama Al-Sudais as office trustee to carry out the financial reorganization procedures.