Tihama logo as shareholders approved a 42.7% capital cut
Tihama Advertising and Public Relations Co.’s shareholders approved a 42.7% capital cut from SAR 400 million to SAR 229.22 million, during the extraordinary general meeting (EGM) held on Nov.13. 
Capital Reduction Details
Current Capital
SAR 400 mln
No. of Shares
40 mln
New Capital
SAR 229.22 mln
NewNo.of Shares
22.92 mln
Reduction (%)
42.7%
Capital Reduction Method
Writing off 17.08 million shares (0.4270 share for each share held)
Reason
To restructure the company’s capital and amortize accumulated losses
Separately, the Saudi Exchange (Tadawul) announced that fluctuation limits will be calculated based on a share price of SAR 27.46, and the outstanding orders will be cancelled.
A trading halt will be placed on the stock for two business days, as of Nov. 16.
The company said the Securities Depository Center Co. (Edaa) will implement the capital reduction in shareholders’ portfolios and the trading halt will be lifted by the end of trading session on Nov. 17.
Tihama logo as shareholders approved a 42.7% capital cut
Tihama Advertising and Public Relations Co.’s shareholders approved a 42.7% capital cut from SAR 400 million to SAR 229.22 million, during the extraordinary general meeting (EGM) held on Nov.13.
Capital Reduction Details
Current Capital
SAR 400 mln
No. of Shares
40 mln
New Capital
SAR 229.22 mln
NewNo.of Shares
22.92 mln
Reduction (%)
42.7%
Capital Reduction Method
Writing off 17.08 million shares (0.4270 share for each share held)
Reason
To restructure the company’s capital and amortize accumulated losses
Separately, the Saudi Exchange (Tadawul) announced that fluctuation limits will be calculated based on a share price of SAR 27.46, and the outstanding orders will be cancelled.
A trading halt will be placed on the stock for two business days, as of Nov. 16.
The company said the Securities Depository Center Co. (Edaa) will implement the capital reduction in shareholders’ portfolios and the trading halt will be lifted by the end of trading session on Nov. 17.
