Case Studies

Leejam Sports Company

Challenge:

Leejam were, and still are, one of the success stories of Saudi companies. In October 2018 when they went public, they had no IR department. There was an individual handling the mandatory requirements to ensure compliance with the regulators’ requirements, although he left within 6 months of listing. Couple that with a number of changes at both Board and Senior Management level, and the lack of a permanent and dedicated IRO, the Company had minimal guidance on the direction they wanted to head in with regards to IR.

 

Solution:

Sager IR stepped in immediately after listing and worked very closely with the Senior Management team to understand their needs and wishes. It was very clear that the Company was looking to stabilize its investor base, grow its Qualified Foreign Investor Holding, and become a key and active player in the Investor Community. 

SIR helped facilitate their desires by establishing and developing a fully-functioning institutionalized IR department. We drafted the company IR manuals, policies, procedures whilst giving on-the-job training and advice to staff, 24/7. We were on-hand at all hours of the day to ensure that any required works were completed on time. Any and all Regulator communication was handled by our experienced in-house team, who firstly ensured the announcement told the right story in both Arabic and English, before uploading either to Tadawul via IFSAH or to the CMA via ECMA. This includes the upload of all financial statements and XBRL files. We also helped draft the IR strategy and implemented KPIs for the incumbent IRO. Together with senior management, we prioritized key areas of development and helped prepare the CEO and CFO for all interactions with investors, including Conferences, Meetings and quarterly earnings calls.

 

Result:

The company now has a functioning, best-practice department, with the right tools to ensure stock performance and business continuity in the event of any unforeseen changes. The Company goes above and beyond the mandatory requirements for Investor Relations, and have achieved some of their initial goals, most notably in growing their foreign investor base, from 0% at listing to just over 10% as of February 2020 as well as the share price performance was outstanding. The Senior Management team is very active in attending conferences and meetings and is very proactive, rather than reactive, as they continue in their efforts to attract investors from around the world. 

Saudi Industrial Investment Group

Challenge:

Historically, the company had never uploaded any of the financial XBRL files mandated by the regulators. During 3Q19, the company was notified by the Regulators of their failure to comply with requirements of the stock performance and were given a deadline to ensure all historical files were uploaded to Tadawul via IFSAH, otherwise, they would face financial penalties.

 

Solution:

Using our highly experienced staff, who have spent many years on the ground working in the field, we were able to upload all outstanding XBRL files to IFSAH.

 

Result:

The company was fully compliant again with all regulator requirements and avoided any financial penalty.