Tihama receives letter from shareholders who own 10% of capital, demanding vote on BOD dismissal

Tihama Advertising, Public Relations, and Marketing Company announced that it has received a letter from some shareholders who own (10%) of the company’s capital requesting that items be added to the Ordinary General Assembly scheduled to be held on October 9, 2023, and that is what the letter included by adding an item Voting to dismiss the Board of Directors at its current session and voting and electing members of the Board of Directors.

The company would like to clarify to shareholders that the nomination period ended on August 13, 2023, and the Nominations and Remuneration Committee screened the candidates and submitted the recommendation to the Board of Directors on August 21, 2023. Therefore, the Board of Directors decided to submit the names of the candidates for the position of the Capital Market Authority on August 21, 2023, according to the law.

This comes with reference to the company’s announcement dated June 08, 2023, regarding the shareholders’ letter regarding the dismissal of the Board, which included the company’s announcement of receiving a letter requesting the dismissal of the Board of Directors, the opening of nominations, and the announcement of any developments, and with reference to the company’s announcement dated June 12, 2023 regarding the opening of nominations from the date of 13 – 06 – 2023 and ending on August 13, 2023.