Tihama shareholders to vote on capital hike through SAR 350 mln rights issue on April 2

Logo of Tihama Advertising and Public Relations Co.

Tihama Advertising and Public Relations Co.’s (Tihama) shareholders will hold a third extraordinary general meeting (EGM) on April 2 to vote on the board of directors’ recommendation on increasing capital through a SAR 350 million rights issue, the company said in a statement to Tadawul.

Details of Rights Issue
Current Capital	SAR 50 mln
Number of Shares	5 mln
Percentage Increase	700%
New Capital	SAR 400 mln
New Number of Shares	40 mln
Reason for Capital Hike	Finance expansion plans and future investments, support working capital, and pay financial dues
Capital Increase Method	Offering 35 mln rights issue shares at a total value of SAR 350 mln
Record Date	April 2, 2023 (Shareholders of record on the date of EGM that decides the capital increase and who are registered with Edaa by the end of the second trading day following the EGM date)

Shareholders will also vote on amending Article No. 7 of the company’s bylaws, which is related to the capital, and Article No. 8 related to shares subscription.

The company's EGM (third time) is considered valid regardless of the shares represented in it.

The EGM was first scheduled to be held on Feb. 26, 2023, in order to decide on the rights issue. However, it was postponed due to lack of quorum.

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