Tihama’s accumulated losses narrow to 33.5% of capital

Capital cut through the cancellation of shares

Staff Writer, Mubasher

March 4, 2022

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Riyadh – Mubasher: Tihama Advertising and Public Relations Company's accumulated losses shrank to SAR 16.64 million as of 23 February.

The accumulated losses currently represent 33.5% of the SAR 50 million capital, according to a recent bourse disclosure.

Tihama noted that the reduction in its accumulated losses resulted from its SAR 125 million capital cut through the cancellation of shares.

The Saudi Capital Market Authority (CMA) had approved for Tihama, last February, to decrease its capital from SAR 175 million.

In the nine-month period that ended on 31 December 2021, Tihama's accumulated losses stood at SAR 141.67 million, which represented 81% of the capital before its reduction.

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