Riyadh – Mubasher: Tihama Advertising, Public Relations and Marketing Company has announced its inability to publish its annual financial results for the fiscal year ending 31 March 2026 within the statutory timeframe.
The delay stems from a failure by the Board of Directors to approve the financial statements, as the motion for approval did not secure the required majority of votes.
Consequently, the company faces a scheduled suspension of its shares from trading on the Saudi Exchange (Tadawul) starting 1 July 2026, in accordance with listing rules.
The disclosure highlights a significant procedural impasse within the company’s leadership.
Despite the Audit Committee’s recommendation to approve the financial statements and the issuance of a report by the independent external auditor, the board of directors remains deadlocked.
According to the company, the necessary majority vote for adoption was not achieved during the board’s deliberations, preventing the formal release of the year-end figures.
In response to the internal disagreement, Tihama’s management stated that it is currently working to complete the necessary regulatory procedures to resolve the situation. This process includes a detailed study of the specific reservations expressed by dissenting board members.
The company aims to address these concerns and take the requisite steps to re-present the financial statements to the board for a subsequent vote. Tihama has committed to announcing the results as soon as the legal and administrative requirements are fulfilled.
The financial reporting delay triggers specific regulatory consequences under the Saudi Exchange’s listing rules.
Tihama has confirmed that the suspension of trading for its listed securities is expected to commence on 1 July 2026. This suspension will remain in effect until the company complies with its disclosure obligations.
The company anticipates that the publication of the financial results may occur within 20 trading sessions following the suspension, provided the board reaches a consensus. It emphasized that it is operating within the framework of relevant laws and instructions to ensure that the financial statements are eventually ratified and made public.
Tihama invited its shareholders to attend an Ordinary General Meeting (OGM) scheduled for 22 July. It will be held at the company’s Riyadh headquarters and feature a critical agenda focused on corporate governance changes.
