Tihama Advertising and Public Relations Co. announces the latest developments as the company announces the issuance of the Commercial Court’s ruling approving the opening of financial restructuring procedure.

Tihama Advertising and Public Relations Co. announces the latest developments as the company announces the issuance of the Commercial Court’s ruling approving the opening of financial restructuring procedure.



Introduction

Tihama Advertising, Public Relations and Marketing Co. announces that, with reference to Board of Directors’ Decision No. 15 dated 23 / 01 / 2024, which includes not filing an appeal against the preliminary ruling issued by the Ninth Circuit of the Commercial Court in Riyadh, which refused to ratify the proposal to conduct the financial restructuring and terminate the financial restructuring procedure for the company. Tihama Advertising, Public Relations and Marketing The company clarifies to the shareholders that the member of the Board of Directors, Mr. Sultan Abdul Latif Nuqli (non-executive member), filed a unilateral request to appeal the ruling on 19 / 07 /1445, corresponding to 31 / 01 /2024 Overriding the Board of Directors’ decision not to appeal and object, in violation of the regulations and instructions, and to support the ruling ordering the end of the procedure. Financial restructuring pursuant to a majority decision of the Board of Directors (in compliance with Paragraph 3 of Article 80 of the Companies Law) dated 11 / 07 /1445, corresponding to 23 / 01 /2024, not to file an appeal against the ruling. Judge to End Financial Restructuring The company confirms to