| Element List | Explanation |
|---|---|
| Introduction | Further to the announcement of Seera Holding Group ("the Group") that Careem Inc ,one of the group’s portfolio companies at that time, reached an agreement on 26 March 2019 with Uber Technologies Inc to acquire Careem’s assets for $3.1 billion;
In a statement of the latest developments, the Group announces the completion of the sale of its shares, amounting 1,249,264 shares, in Uber for a total value of SAR 380.0 million, yielding a total additional gain for the group of SAR 164.6 million for the period post 30 September 2023. It should be noted that the Group’s ownership of Uber is the result of Uber’s acquisition of Careem, one of the group’s portfolio companies at that time; The agreement stipulated that the acquisition value would consist of two parts, the first in cash and the other in the form of convertible notes in Uber that converts within specified periods after meeting certain terms and conditions as stipulated in the acquisition agreement between the two companies. This divestment comes in alignment with the Group’s strategy announced on November 8, 2023 which aims to achieve long-term and sustainable returns for its shareholders and maximize the value of its investments in the short and long terms. |
| Previous Announcement | The Group announced that Careem Inc, one of the group’s portfolio companies at that time, reached an agreement on 26 March 2019 with Uber Technologies Inc to acquire Careem’s assets for $3.1 billion. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2019-03-26 Corresponding to 1440-07-19 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The Group announces the completion of the sale of its shares, amounting 1,249,264 shares, in Uber for a total value of SAR 380.0 million, yielding a total additional gain for the group of SAR 164.6 million for the period post 30 September 2023. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | N/A |
