The shareholders of Tihama Advertising and Public Relations Company, during the Extraordinary General Assembly meeting, agreed to increase the company’s capital by issuing priority rights shares at a value of 350 million riyals, so that the capital after the increase became 400 million riyals, instead of 50 million riyals.
The company said in a statement on “Tadawul Saudi Arabia”, today, Monday, that the method of increasing the capital is through the issuance and listing of priority rights shares with a number of 35 million shares.
The rate of change in the capital after the increase is 700%, and the increase is 7 shares for each share. The offering value of each share is 10 riyals, and the nominal value of the offered shares is 10 riyals per share.
The company attributed the reason for the capital increase to financing expansion plans and future investments, supporting working capital and paying financial obligations.
Eligibility will be for all the company’s shareholders registered in the company’s records at the Securities Depository Center (Edaa Center) at the end of the second trading day following the Extraordinary General Assembly in which it was decided to increase the capital.