Al-Khaleej Training and Education Company announces the latest developments regarding a (non-binding) memorandum of understanding signed with the owners of Al-Minhaj Private Schools Company Ltd.
| Element List | Explanation |
|---|---|
| Introduction | Reference to the announcement of Al-Khaleej Training and Education Company published on the Tadawul website on 03/07/2022 AD regarding the signing of a (non-binding) memorandum of understanding with the owners of Al-Minhaj Private Schools Company Limited in Riyadh for the possible acquisition of (51%) of the ownership shares of Al-Minhaj Private Schools Company, This is when a final agreement is reached between the two parties.
The company would like to announce that it has been agreed with the owners of Al-Minhaj Private Schools Company Ltd. to extend this memorandum with the same terms and conditions as above for another additional period of (180) days starting from the date of 04/11/2022 AD, subject to automatic renewal if the municipality and civil defense licenses are not issued and to complete Due diligence work |
| Previous Announcement | Al-Khaleej Training and Education Company announces the signing of a memorandum of understanding with the owners of Al-Minhaj National Schools Company (a Saudi limited liability company) |
| Date of Previous Announcement on Tadawul’s Website | 2022-07-03 Corresponding to 1443-12-04 |
| Percentage of fulfilled achievement | 30% |
| Event’s Expected Completion Date | 03/04/2023 |
| Reasons for Exceeding the Announced End Date | NA |
| 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 Results | NA |
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.