Tihama says needs more time for capital raise requirements

22/03/2015 Argaam
Tihama Advertising & Public Relations Co. (TAPRCO) said it will not be able to complete the paperwork required to raise its capital by the March 26 deadline set by Saudi Arabia’s market regulator.
  
Some details are still pending, including the company’s Zakat position, along with deferred expenses and financial statements for some of its subsidiaries, TAPRCO said in a statement on Tadawul, Saudi’s bourse. 
 
Last July, the company’s board recommended reducing its capital raise to SAR 75 million from SAR 150 million through a rights issue, according to data available on Argaam. 

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