‎“Tihama” GA Oks capital increase to SR400 mln through issuing ‎priority rights of SR350 mln

Tihama Advertising and Public Relations Company announced the results of the Extraordinary General Assembly, which included approval of the company’s capital increase (the third meeting), which was held on Sunday corresponding to 02-04-2023 AD at 9:15 pm through modern technology.

Voting results:

– Approval of the company’s capital increase by issuing priority rights shares at a value of 350 million Saudi riyals, so that the capital after the increase becomes 400 million as follows:

1- The capital before the increase is 50 million riyals divided into 5 million ordinary shares

2- The capital after the increase is 400 million riyals divided into 40 million ordinary shares

3- The total amount of the increase is 350 million riyals

4- The method of increasing the capital: offering and listing priority rights shares for (35,000,000) ordinary shares.

5- The percentage of change in the capital after the increase is 700%

6- The percentage of increase for each share is 7 shares increase for each share

7- The offering value of each share is 10 riyals per share

8- The nominal value of the offered shares is 10 riyals per share

9- The number of shares offered: 35 million ordinary shares

10- The reason for the capital increase: financing expansion plans and future investments, supporting working capital, and paying financial obligations.

11- Eligibility date: 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.

– Approval of the amendment of Article 7 of the company’s articles of association, which is related to the capital

– Approval of the amendment of Article 8 of the company’s bylaws, which is related to subscription in shares

– Approval of adding Article Thirteen of the Company’s Articles of Association, which is related to the shareholder register

– Approval of the amendment of Article Fourteen of the company’s articles of association, which is related to the capital increase

Disapproval of amending Article 15 of the company’s bylaws, which is related to capital reduction

– Approval of the amendment of Article Sixteen of the company’s articles of association, which is related to the management of the company

– Approving the amendment of Article Seventeen of the company’s bylaws related to the end of the board’s term or the retirement of its members.

Approval of the amendment of Article 18 of the company’s bylaws related to the vacant position on the board

– Approving the addition of Article Nineteen of the Company’s Articles of Association, which is related to the disclosure of interest in business and contracts.

– Approval of the addition of Article 20 of the company’s articles of association relating to conflict of interest, competition and exploitation of assets.

– Approval of adding Article Twenty-one of the company’s bylaws, which is related to the decision evaluation rule.

– Approval of adding Article Twenty-two of the company’s articles of association, related to the duties of care and loyalty.

Disapproval of adding Article Twenty-Four of the Company’s Articles of Association, which is related to the sale of the company’s assets

– Approving the amendment of Article twenty-eight of the company’s bylaws, which is related to the meetings of the Board.

– Disapproval of adding Article Twenty-Nine of the company’s basic system, which is related to deputizing to attend meetings and the validity of the decisions of the Board of Directors.

– Approving the amendment of Article fifty-seven of the company’s bylaws, which is related to the company’s losses.

Disapproval of the amendment of Article fifty-nine of the company’s bylaws, which is related to the termination of the company

Disapproval of adding Article 60 to the company’s bylaws related to the decision to appoint a liquidator

– Approving the addition of Article 61 in the company’s bylaws related to insufficient assets

– Approval of adding Article Sixty-two to the company’s bylaw, which is related to the harmonization of the articles of the bylaw with the companies’ bylaw.

Approving the amendment of the work regulations of the Remuneration and Nomination Committee

Disapproval of the approval of the remuneration policy of the Board of Directors, its committees and the executive management

In another context,

On Sunday 09/11/1444 AH, corresponding to 02/04/2023 AD, the extraordinary general assembly of Tihama Advertising and Public Relations Company approved an increase in the company’s capital by issuing priority rights shares. Accordingly, the company’s share fluctuation rate will be calculated for Monday 09/12/1444 AH corresponding to 04/03/2023 AD based on the price of 16.58 riyals, and the cancellation of existing orders.

Note that the priority rights of Tihama Advertising and Public Relations Company will be deposited in the shareholders’ portfolios on Wednesday 09/14/1444 AH corresponding to 04/05/2023 AD.