Tihama Advertising, Public Relations and Marketing Company announces to Invites its Shareholders to Attend the (First Meeting) ordinary General Assembly Meeting via modern technology means
||The Board of Directors of Tihama Company for Advertising, Public Relations and Marketing is pleased to invite the shareholders to participate and vote in the first ordinary general assembly meeting, which is scheduled to be held, God willing, at exactly six thirty in the evening on 26-02-1443 H corresponding to 03-10-2021 AD, through modern technology means using the Tadawulaty system, in order to ensure the safety of shareholders and within the support of preventive and precautionary efforts and measures by the competent and relevant health authorities to address the emerging corona virus (COVID-19), and as an extension of the continuous efforts made by all government agencies in the Kingdom Saudi Arabia in taking the necessary preventive measures to prevent its spread.
|City and Location of the General Assembly’s Meeting
||Company’s Head Office – Riyadh – King Fahd Road – Al Aoula Building – Remotely Via tadawulaty
|URL for the Meeting Location
|Date of the General Assembly’s Meeting
||2021-10-03 Corresponding to 1443-02-26
|Time of the General Assembly’s Meeting
||The entitlement for attending the meeting shall be for the shareholders registered in the Company’s shareholders register at the Depository Center at the end of the trading session preceding the General Assembly meeting, and in accordance to the rules and regulation.
|Quorum for Convening the General Assembly’s Meeting
||According to Article (32) of the companies by law, the quorum for holding the ordinary general assembly meeting is valid if shareholders representing at least a quarter of the capital are present. If the necessary quorum is not available to hold this meeting, the second meeting will be held an hour after the end of the period specified for the first meeting, and the second meeting will be valid regardless of the number of shares represented therein.
|General Assembly Meeting Agenda
||1-Voting on the External Auditors Report for the fiscal year ended on 31-03-2021G. (Attached)
2-Voting on the financial statements for the fiscal year ended on 31-03-2021G. (Attached)
3-Voting on the Board of Directors Annual Report for the fiscal year ended on 31-03-2021G. (Attached)
4-Voting on the Audit Committee recommendation to appoint the external auditor to examine, review and audit the financial statements for the second, third quarter of 2022 and the first quarter of 2023 and set their fees. (Attached)
5-Voting to release the Board Members from their liability for the fiscal year ended on 31-03-2021G.
6-Voting of the Board of Directors’ recommendation to form the Audit Committee and define its tasks, work controls and remunerations for its members for the new term, starting from 14-10-2021 G until the end of the session on 13-10-2024 G, note that the candidates are (Attached is the CV of each candidate).
-Mr. Sultan Salahuddin Abdul Azim Chairman of Committee (Independent member)
-Mr. Abdulaziz Awgan Al Rashidi Committee Member (member from outside the Board)
-Mr. Karim Abdulaziz Cheniour Committee Member (member from outside the Board)
-Mr. Abdulsalam Maged Abulsalam Committee Member (member from outside the Board)
7-Voting to approve policy for remuneration for Board Members, Board Committees and Executive Management (attached).
8-Vote to elect members of the Board of Directors among the candidates for the next session, which begins on 14-10-2021 G, and for a period of three years ending 13-10-2024 G (CV for all candidates is attached).
||The shareholders registered in Tadawulaty services may vote remotely on the agenda of the ordinary General Assembly Meeting (EGM) starting at 10:00 AM on Wednesday 22-02-1443H corresponding to 29-09-2021G until the time the general assembly meeting ends.
Also, please note that registration in Tadawulaty service and voting is provided free of charge for all shareholders through the (E-Voting) services at: https://www.tadawulaty.com.sa
|Eligibility for Attendance Registration and Voting
||Eligibility for Registering the Attendance of the General Assembly’s Meeting Ends upon the Convenience of the General Assembly’s Meeting. Eligibility for Voting on the Business of the Meeting Agenda Ends upon the Counting Committee Concludes Counting the Votes.
|Method of Communication
||in case of an inquiry, we hope to contact the Investor Relations Department by phone: 0112079767 or Email: email@example.com
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Audit committee Report
WPP and Tihama enter into two new ventures to extend their existing partnership
28 June 2021
WPP announces that it will enter into two new ventures in the MENA (Middle East and North Africa) region with Tihama For Advertising Marketing and Public Relations Holding JSC (“Tihama”) to simplify current structures, reduce complexity for clients and provide a solid base for further growth.
- WPP and Tihama have agreed to establish a new joint venture company, ICG Saudi Arabia, which will provide a range of communications and media services in the Kingdom of Saudi Arabia through client-facing agency brands. WPP will own 70% of the joint venture company and Tihama will own 30%. The initial operations of ICG will serve clients through the following brands: Ogilvy, MediaCom, Mindshare, Wavemaker and Grey. It is envisaged more brands will be added as new opportunities arise.
- At the same time, WPP and Tihama have agreed that, following the 2018 global merger of J. Walter Thompson (“JWT”) and Wunderman to create Wunderman Thompson, they will formally bring together the existing Wunderman and JWT operations across the MENA region to create Wunderman Thompson MENA, established in Bahrain. As well as operations in the Kingdom of Saudi Arabia, Wunderman Thompson MENA will have offices in Dubai, Egypt, Kuwait, Lebanon, Morocco and Tunisia. Tihama was a founding shareholder in JWT MENA and remains a significant shareholder, with a 25% stake in Wunderman Thompson MENA.
Mark Read, CEO of WPP, said:
“We are delighted to expand our long-standing partnership with Tihama in this important region, and to simplify our legacy structures. We look forward to providing our clients across MENA with simple, integrated solutions that deliver the best of our agencies’ services in communications, experience, commerce and technology.”
Abdulkarim Almaayouf, Board Member and Managing Director, Tihama, said:
“We are excited that our long term relationship with WPP is continuing and strengthening as we enter into these new ventures. The Wunderman Thomson merged business will offer clients a new and exciting range of services with cutting edge digital expertise. ICG Saudi will provide a new vehicle for WPP to bring more of its brands into Saudi Arabia, a key market in the MENA region. Marketing and communication is undergoing rapid transformation as part of KSA’s Vision 2030 strategy. WPP and Tihama will be able to contribute towards the success of Vision 2030 using knowledge transfer to help develop and strengthen local talent.”
With over 2,500 employees and almost 300 million USD in revenue in the Middle East and North Africa, WPP works with a wide range of global and local clients across the region.
WPP is a creative transformation company. We use the power of creativity to build better futures for our people, planet, clients and communities. For more information, visit www.wpp.com.
WPP has 100,000 employees worldwide with 17.9 billion USD in revenue.
Tihama is the oldest listed group in the media sector on the Saudi Arabian Stock Exchange (Tadawul). It operates across the Kingdom and regionally in the advertising, media production, bookstores, travel retail and education sectors.
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