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 during the extraordinary general meeting (EGM) scheduled for March 29.
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Key Figures of the Capital Hike |
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Current capital |
SAR 75 mln |
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Number of shares |
7.5 mln shares |
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Hike (%) |
133.3% |
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New capital |
SAR 175 mln |
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New shares |
17.5 mln shares |
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Rights Issue Details |
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Number of rights issue shares |
10.0 mln shares |
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Issue price |
SAR 10/share |
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Issue size |
SAR 100 mln |
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Record date |
The second trading day following the EGM |
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Use of Proceeds |
To support the company’s expansion plan |
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Additional Information |
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Financial advisor/Underwriter |
FALCOM Financial Services |
Tihama’s total number of shares will be increased to 17.5 million from 7.5 million, it said in a bourse filing on Sunday.
The capital hike aims to boost the company’s expansion plans.
Shareholders of record on the second trading day after the extraordinary general meeting are eligible to the rights issue, the statement added.
The EGM, slated for Feb. 19, 2020, was not held due to lack of quorum.
The Capital Market Authority (CMA) has approved Tihama’s request to increase its capital through SAR 100 million rights issue.
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