Tihama shareholders to vote on SAR 100 mln capital hike on Feb. 19

29/01/2020 Argaam

 

Tihama Advertising and Public Relations Co.’s shareholders are set to vote on capital hike to SAR 175 million from SAR 75 million through SAR 100 million rights issue, in the extraordinary general assembly meeting scheduled for Feb. 19.

 

Tihama’s total number of shares will be increased to 17.5 million from 7.5 million, the company said in a bourse filing.

 

The capital hike aims to boost the company’s expansions.

 

Shareholders of record on the second trading day after the extraordinary general meeting, are eligible to the rights issue, the statement added.

 

Earlier this month, the Capital Market Authority (CMA) approved Tihama’s request to increase its capital through SAR 100 million rights issue, Argaam reported.

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