Tihama announces accumulated losses decrease to SAR 119.8 million

Tihama Advertising and Public Relations Co. announced the decrease of its accumulated losses as on 30.06.2023 below 50% of the company’s capital to become SAR 119.8 million representing 30% of the company’s capital amounted to SAR 400 million as of 30.06.2023.

The company noted that the reasons for the decrease in accumulated losses percentage is mainly due to Increasing the company’s capital by SAR 350 million by issuance of 35 million rights priority shares based on the approval of the extraordinary general assembly of shareholders dated 2 April 2023. The company’s capital after the increase is SAR 400 million as on 30 June 2023.

The Procedures and instructions applicable on listed companies in Saudi Capital Market whose accumulated losses Reach 20% or more out of the Capital thereof will continue to apply, it added.