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Al-Khaleej Training and Education Company announces the latest developments regarding a (non-binding) memorandum of understanding signed with the owners of Al-Faisaliah National Schools Company Ltd.

Al-Khaleej Training and Education Company announces the latest developments regarding a (non-binding) memorandum of understanding signed with the owners of Al-Faisaliah National Schools Company Ltd.

Element ListExplanation
IntroductionReference to the announcement of Al-Khaleej Training and Education Company published on the Tadawul website on 10/20/2021 AD regarding the signing of a (non-binding) memorandum of understanding with the owners of Al-Faisaliah National Schools Company Ltd. for the possible acquisition of (60%) of the ownership shares of Al-Faisaliah National Schools Company Ltd., Upon reaching a final agreement between the parties.

 

 

The company would like to announce that it has been agreed with the owners of Al-Faisaliah Private Schools Company Ltd. to extend this memorandum with the same terms and conditions as above for another additional period of (90) days from 14-04-2022 AD in order to complete the work of due diligence

Previous AnnouncementAl-Khaleej Training and Education Company announces the signing of a (non-binding) Memorandum of Understanding with the owners of Al-Faisaliah National Schools Company Ltd.
Date of Previous Announcement on Tadawul’s Website2021-10-20 Corresponding to 1443-03-14
Percentage of fulfilled achievement70%
Event’s Expected Completion Date10/07/2022
Reasons for Exceeding the Announced End DateNA
The costs associated with the event, and if they have changed or not with indication of the reasons.No change
Impact of the Delay on the Company’s Financial ResultsNA

 

The Capital Market Authority and Saudi 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.

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