| Element List | Explanation |
|---|---|
| Introduction | Further to the announcement of Seera Group Holding ("the Group") regarding the signing of a non-binding term sheet dated 17-02-1444 (corresponding to 13-09-2022) with the Public Investment Fund ("PIF") in relation to PIF’s proposed investment in Almosafer Travel and Tourism Company (A wholly owned company of Seera) ("Almosafer");
The Group announces the agreement of the parties to terminate the non-binding term sheet, as of 03/03/2023, due to the inability to reach an agreement between the parties regarding transaction. The Group reaffirms its commitment to preserving the value of its assets and optimizing its shareholder returns. |
| Previous Announcement | Seera Group Holding announces the signing of a non-binding term sheet with the Public Investment Fund |
| Date of Previous Announcement on Saudi Exchange’s Website | 2022-09-13 Corresponding to 1444-02-17 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The Group announces the agreement of the parties to terminate the non-binding term sheet, as of 03/03/2023, due to the inability to reach an agreement between the parties regarding transaction. |
| Reasons For The Delay on The Date of The Event Previously Announced | N/A |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | N/A |
| Additional Information | As announced in the Seera Holding Group strategy statement dated 24-04-1445 (corresponding to 08-11-2023), Almosafer is fully self-sufficient, independently generating consistent and profitable growth, having achieved a net booking value of SAR 5,691 million and EBITDA of SAR 49 million during the first nine months of 2023 and intends to continue to work within the ecosystem playing a leading and strategic role to achieve the Kingdom’s Vision 2030 goals in the tourism. Almosafer is set to surpass its historical performance levels and exceed SAR 10 billion in booking value by 2025.
It is worth noting that the Group’s announced strategy also includes listing subsidiaries at the appropriate time. |
