Thimar gets court’s approval to postpone creditor payments for 11 months

20/11/2022 Argaam

Thimar gets court’s approval to postpone creditor payments for 11 months

Logo of Thimar Development Holding Co.

Thimar Development Holding Co. obtained the approval of Riyadh’s Commercial Court on postponing creditor payments for 11 months, the company said in a statement to Tadawul.

 

Shareholders and creditors are set to vote on the company’s financial reorganization proposal as follows:

 

Voting Details

Item

Details

Shareholders’ Voting Date

Dec. 11, 2022, at 9.00–11.00 am

Creditors’ Voting Date

Dec. 12, 2022, at 9.00–11.00 am

Record Date

Shareholders registered with Edaa by the end of the trading session prior to the meeting
 

Relevant updates will be duly revealed, the statement added.

 

Thimar submitted, on Oct. 19, a request to the financial regulator for postponing creditor payments for 11 months, in accordance with the loan rescheduling regulations.

 

Last March, Thimar said a commercial court in Riyadh accepted its proposal for financial reorganization, Argaam reported. 

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