Lumi Rental GA Approves Related-Party Business and Contracts

Lumi Rental Company announced on Wednesday that its Ordinary General Assembly Meeting (First Meeting) approved business and contracts conducted in 2024 with Seera Holding Group, in which Chairman Eng. Mohammed Saleh AlKhalil, Vice Chairman Mr. Ahmed Samer Hamdi AlZaim, Board Member Mr. Abdullah Nasser AlDawood, and Board Member Mr. Ibrahim Abdulaziz AlRashed have indirect interests, as they serve on the Boards of both companies.

The Company stated that the transactions included SAR 3,089,006 million in vehicle rentals, SAR 9,486,518 million in purchases for storage and utility services, and SAR 1,020,113 million related to the settlement of balances with related parties. It added that the transactions were conducted without preferential terms or benefits in the transaction