Lumi Rental Company (A Saudi Closed Joint Stock Company) (Saudi Arabia)

The Company's activities consist of sale of motor vehicles; maintenance and repair of motor vehicles; sale of vehicle parts and accessories; sale, maintenance and repair of motorcycles, spare parts and accessories; ground transportation of passengers in the cities and suburbs; road transport related service activities; motor vehicle rental; rental of leisure and sports equipment; rental of machinery and other equipment and real goods; and activities of tour operators.
The Company is 100 owned subsidiary of Seera Group Holding (A Saudi Joint Stock Company) (the “Parent”), a company registered in Riyadh, the Kingdom of Saudi Arabia.
The company s Vision is to reshape the way people and businesses move across the Kingdom and beyond by digital innovation in the land mobility sector.
The company s Mission is to Create convenience and drive customer loyalty through innovation, operational excellence, and a young fleet in the land mobility sector.
The Company maintains the following three key pillars in its growth strategy , building a pipeline of future revenue and asset growth through vehicle lease contracts by consistently providing service excellence and pricing competitiveness that caters to the large-scale lease management needs of its corporate and Government clients; achieving scale, growth and profitability as a rental business by building on its optimal branch network through openings in existing and new cities that are gaining prominence as travel destinations and adopting an omni-channel approach to capture customers through integrated online (mobile application, website and WhatsApp) and offline (branch, call centre) channels, combined with increasing mid and high-value vehicles in its rental fleet mix, retaining customers through a loyalty programme, increasing the corporate rental client base and providing end-to-end logistics and fleet management support to large-scale events across the Kingdom; and fleet disposal at maximised purchase price recovery by opening used vehicle sales showrooms in Jeddah and Dammam
in addition to its existing used vehicle sales showroom in Riyadh and by digitising its existing closed bidding process for used vehicles to enhance the buyer experience.
The Company is a Saudi closed joint stock company incorporated by virtue of Ministry of Commerce Resolution No. 228, dated 9 Rajab 1442H (corresponding to 21 February 2021G), and registered under Commercial Registration No. 1010228226, dated 23 Muharram 1428H (corresponding to 10 February 2007G) issued in Riyadh, Kingdom of Saudi Arabia (the “Kingdom”).
The share capital of the Company is five hundred and fifty million Saudi Arabian Riyals (SAR 550,000,000), divided into fifty-five million (55,000,000) ordinary shares, with a fully paid nominal value of ten Saudi Arabian Riyals (SAR
10) per share (the “Shares”). The Company started its operations as a branch of a sole establishment with the name “Al Tayyar Establishment for Car Rentals” owned by Nasser Aqeel Abdullah Al Tayyar. On 14 Shawwal 1427H (corresponding to 5 November 2006G), the establishment branch was converted to a limited liability company with the name “Al Tayyar for Car Rentals Limited” and registered under Commercial Registration No. 1010228226, dated 23 Muharram 1428H (corresponding to 10 February 2007G) with a capital of one million Saudi Arabian Riyals (SAR 1,000,000), divided into one thousand (1,000) shares with a nominal value of one thousand Saudi Arabian Riyals (SAR 1,000) per share, whereby fifty per cent. of such shares were held by Al Tayyar Real Estate Development and Investment Company and fifty per cent. of the shares were held by Nasser Aqeel Abdullah Al Tayyar. Pursuant to the Shareholders' Resolution dated 15 Ramadan 1430H (corresponding to 5 September 2009G), the capital of the Company was increased from one million Saudi Arabian Riyals (SAR 1,000,000) divided into one thousand (1,000) shares with a nominal value of one thousand Saudi Arabian Riyals (SAR 1,000) per share to fifteen million Saudi Arabian Riyals (SAR 15,000,000) divided into fifteen thousand (15,000) shares with a nominal value of one thousand Saudi Arabian Riyals (SAR 1,000) per share through the capitalisation of fourteen million Saudi Arabian Riyals (SAR 14,000,000) from the shareholders' account. Pursuant to the Shareholders of Saudi Transportation United Company Resolution dated 21 Jumada al-Ula 1436H (corresponding to 12 March 2015G), the Company acquired ninety per cent. (90 ) of Saudi Transportation United Company Ltd.
On 25 Jumada al-Ula 1440H (corresponding to 31 January 2019G), the Shareholders in the Company decided to merge the Saudi Company Transportation United Company. On 4 Sha'ban 1440H (corresponding to 9 April 2019G), the Company changed its name from “Al Tayyar for Car Rentals Limited” to “Lumi Rental Company”. Pursuant to the Shareholders' Resolution dated 25 Muharram 1442H (corresponding to 13 September 2020G), the Company was converted from a limited liability company to a closed joint stock company and its capital was increased from fifteen million Saudi Arabian Riyals (SAR 15,000,000) divided into
fifteen thousand (15,000) shares with a nominal value of one thousand Saudi Arabian Riyals (SAR 1,000) per share, to five hundred and fifty million Saudi Arabian Riyals (SAR 550,000,000) divided into fifty-five million (55,000,000) ordinary shares, with a fully paid nominal value of ten Saudi Arabian Riyals (SAR 10) per share, through the capitalization of five hundred and thirty-five million Saudi Arabian Riyals (SAR 535,000,000) from retained earnings
and the additional capital account.
The Company's share capital is five hundred and fifty million Saudi Arabian Riyals (SAR 550,000,000), divided into fifty-five million (55,000,000) ordinary Shares with a fully paid nominal value of ten Saudi Arabian Riyals (SAR 10) per Share. The initial public offering of the Company's Shares (the “Offering”) will consist of sixteen million and five hundred thousand (16,500,000) Shares (collectively, the “Offer Shares” and each an “Offer Share)”. The Offering price will
be [●] Saudi Arabian Riyals (SAR [●]) per Offer Share (the “Offer Price”), with each Offer Share carrying a fully paid nominal value of ten Saudi Arabian Riyals (SAR 10) per Offer Share. The Offer Shares represent thirty per cent. (30 ) of the issued share capital of the Company.