TAPRCO

30 June, 2024 16:50

Tihama Advertising and Public Relations Co. Announces an update on Tihama Advertising and Public Relations Co. Announces an update on its announcement that it has agreed with WPP plc to the creation of a new Company in KSA to be called ICG Saudi Arabia

Element ListExplanation
Introduction With reference to the company's announcement published on the Tadawul on 07 – 06 -1445 H corresponding to 20 – 12 - 2023 G regarding signing an agreement by Tihama Advertising, Public Relations, and Marketing Company with WPP Group to establish a new company in the Kingdom of Saudi Arabia under the name ICG Saudi Arabia, and regarding the Partners have agreed to the extension of the period to 30 June 2024. The company would like to announce to the shareholders that Partners have agreed on the extension of the period to another six months ending on December 31, 2024 For Completion of the transfer of legal ownership including finalization of required regulatory approvals .
Previous Announcement Tihama Advertising and Public Relations Co. Announces an update on its announcement that it has agreed with WPP plc to the creation of a new Company in KSA to be called ICG Saudi Arabia
Date of Previous Announcement on Saudi Exchange’s Website 2023-12-20 Corresponding to 1445-06-07
Hyperlink to the Previous Announcement on the Saudi Exchange Website Click Here
Latest Developments Of The Announced Event Partners have agreed on the extension of the period to another six months ending on December 31, 2024
Reasons For The Delay on The Date of The Event Previously Announced Completion of the transfer of legal ownership including finalization of required regulatory approvals .
The costs associated with the event, and if they have changed or not with indication of the reasons. Any financial impact arising from the transaction will be booked on completion, based on the assets and liabilities at that date – any potential impact cannot be reliably estimated at this time.
Delay consequences on the Company’s financial results Not applicable
Additional Information The company will announce any material developments in this regard

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