Introduction Alkhaleej Training and Education Co. announces the signing of a non-binding memorandum of understanding (“MoU”) with Alkhabeer Capital in connection with acquisition of a portfolio of educational companies owned by private funds that are managed by Alkhabeer Capital.Both parties agreed that upon reaching a final agreement on the transaction, the consideration paid by Alkhaleej Training and Education Co. will be a combination of stock in Alkhaleej Training and Education Company and cash (The Potential Transaction).
Memorandum Signing Date 2020-08-06 Corresponding to 1441-12-16
Counterparty Al-Khabeer Financial Company
Memorandum Subject The memorandum aims to define the framework of understanding of the primary mutual obligations and rights between the two parties regarding the acquisition of seven (7) schools located in Riyadh, Jeddah, Yanbu and AlKhobar, with the total number of students exceeding 11,600 (boys and girls).The final value of the transaction will be determined based on the results of the due diligence reviews as agreed upon by the two parties.
Memorandum Duration This memo shall be effective from the date of its signature for period of (90) days, renewable with the consent of both parties.
Related Parties This transaction does not involve any related parties.
Financial Impact The financial impact will be determined after the completion of the final evaluation.
Additional Information The Memorandum of Understanding is non-binding for both parties, and any material developments regarding the Memorandum of Understanding or proposed acquisition will be announced in due course.Alkhaleej Training and Education Co. has appointed Alwasatah Almaliah Financial (Wasatah Capital) to be its financial advisor for this transaction.

Alkhabeer Capital is a company specialized in asset management, alternative investments and investment services. Alkhabeer’s head office is located in Jeddah and has a branch in Riyadh, Saudi Arabia. It is subject to the supervision of the Saudi Capital Market Authority and holds a license number (07074-37).

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.