Tihama Advertising & Public Relations Co. postponed its extraordinary general meeting (EGM), slated for April 16, 2020 due to the precautionary measures to combat the outbreak of the coronavirus, the company said in a bourse statement on Wednesday.
Tihama’s shareholders were set to vote on capital hike to SAR 175 million from SAR 75 million through SAR 100 million rights issue during the meeting, Argaam reported.
The EGM, earlier scheduled for March 29, was postponed to April 16, 2020 in line with Capital Market Authority’s (CMA) circular to enable shareholders to participate and vote on related meeting agenda through Tadawulaty system.
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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 |
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