Logo of Tihama Advertising and Public Relations Co.
Tihama Advertising and Public Relations Co. invited its shareholders to attend a general assembly meeting on June 23 to vote on the amendments to the allocation of SAR 350 million rights issue proceeds.
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In a statement to Tadawul, the company said that the amended proceeds allocation will be as follows:
|
Amendments to Allocation of Proceeds from Rights Issue (SAR mln) |
|||||
|
Item |
Prospectus |
Actual Spending |
Recommended |
Variance |
Change (%) |
|
Working Capital |
12.85 |
12.91 |
22.67 |
9.82 |
76 % |
|
Investments, acquisitions, and partnerships |
154.00 |
165.50 |
174.00 |
20.00 |
13 % |
|
Expansion and restructuring of retail segment |
33.59 |
17.26 |
17.26 |
(16.33) |
(49%) |
|
Expansion of education segment
|
15.97 |
15.40 |
25.40 |
9.43 |
59 % |
|
Expansion in the production segment (events and entertainment) |
7.99 |
0.60 |
3.50 |
(4.49) |
(56%) |
|
Expanding the network of advertising sites |
17.45 |
-- |
-- |
(17.45) |
(100%) |
|
Final court judgments dues |
28.45 |
15.60 |
28.45 |
-- |
-- |
|
Settlement of loans |
20.91 |
20.75 |
20.75 |
(0.16) |
(1%) |
|
Dues to government agencies |
31.81 |
6.76 |
31.81 |
-- |
-- |
|
Offering Costs |
26.99 |
26.17 |
26.17 |
(0.82) |
(3%) |
In September 2024, Tihama announced the issuance of a board of directors’ resolution approving amendments to the allocation of proceeds from its rights issue offering, according to Argaam data.
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