Tihama’s accumulated losses down to 33.5% of capital

Logo of Tihama Advertising and Public Relations Co.

Tihama Advertising and Public Relations Co.’s (TAPRCO) accumulated losses declined as of Feb. 23 to SAR 16.75 million, representing 33.5% of the company’s capital of SAR 50 million, according to a bourse filing.

This was driven by a capital reduction by SAR 125 million through canceling shares in order to offset the accumulated losses by SAR 125 million, as per the approval of the company’s extraordinary general meeting (EGM) held on Feb. 23.

Tihama is still subject to the regulations applicable to Tadawul-listed companies whose accumulated losses reach more than 20% of capital.

The Securities Depository Center Company (Edaa) announced implementing securities quantity decrease for Tihama on the accounts of eligible securities’ holders on Feb. 28.

To review the legal accountant’s report: