Element List | Explanation |
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Introduction | With reference to the announcement made by Seera Group Holding Company ("Seera") on 20/08/1443H
(corresponding to 23/03/2022G) on the possibility of an initial public offering for its subsidiary Lumi Rental Company, Seera announces the conclusion of its feasibility study and its conclusion that the proposed initial public offering will constitute a demerger (the "Demerger") and as such it is subject to the approval of the shareholders of Seera. It will publish separately an invitation to its shareholders to attend the Ordinary General Assembly Meeting to vote on the demerger, together with a shareholders’ circular containing further information on the demerger. On 02/03/1444H (corresponding to 28/09/2022G), the board of directors of Seera has formed a specialised committee to advise Seera’s shareholders on the Demerger, pursuant to Article 117 of the Rules on the Offer of Securities and Continuing Obligations, consisting of the following independent members: • Mohammed Saleh Al-Khalil; • Abdulaziz AlBassam; and • Yazeed Khalid Almuhaize. The board of directors of Seera has approved the Demerger on 27/04/1444H (corresponding to 21/11/2022G). |
Previous Announcement | Seera Group Holding Company announces that is considering an initial public offering of its subsidiary Lumi Rental Company |
Date of Previous Announcement on Tadawul’s Website | 2022-03-23 Corresponding to 1443-08-20 |
Percentage of fulfilled achievement | N/A |
Event’s Expected Completion Date | N/A |
Reasons for Exceeding the Announced End Date | N/A |
The costs associated with the event, and if they have changed or not with indication of the reasons. | N/A |
Impact of the Delay on the Company’s Financial Results | N/A |