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Tihama Advertising and Public Relations Company announces an update regarding signing of an agreement to acquire additional shares in its subsidiary (Integrated Production Company for Audio visual Media Production).

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Introduction Reference to the announcement of the Tihama Advertising, Public Relations and Marketing Company on Tadawul dated February 16, 2021 regarding the latest updates on its agreement to acquire shares representing 35% of the capital of its subsidiary (Integrated Production Company for Audiovisual Media Production) and the expected date to complete the relevant formal procedures on 18-07-1442 H corresponding to 16-02-2021.

Tihama Advertising, Public Relations and Marketing would like to announce that the relevant formal procedures have not yet been completed, and it is expected that they will be completed on 19-08-1442 H corresponding to 01-04-2021.

Previous Announcement Tihama Advertising and Public Relations Company announces an update regarding signing of an agreement to acquire additional shares in its subsidiary (Integrated Production Company for Audio visual Media Production).
Date of Previous Announcement on Tadawul's Website 2021-02-16 Corresponding to 1442-07-04
Percentage of fulfilled achievement 90%
Event's Expected Completion Date It is expected to complete the regulatory formalities on 19-08-1442 H corresponding to 01-04-2021.
Reasons for Exceeding the Announced End Date Non completion of all relevant formal procedures.
The costs associated with the event, and if they have changed or not with indication of the reasons. The value of the acquisition is SAR 7,250,000
Impact of the Delay on the Company's Financial Results Not Applicable

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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