| ELEMENT LIST | EXPLANATION |
| Introduction | With reference to the announcement by Al khaleej Training and Education Company published on the Tadawul website on 09/08/2020 AD regarding 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.
Al Khaleej Training and Education Company announces the end of the term of the Memorandum of Understanding without reaching an agreement between the two parties to complete the deal, due to lack of compatibility with the concerned parties and without any obligation on either party. The understanding was also reached between Al Khaleej Training and Education Company and the Alkhabeer Financial Company to keep the dialogue open, Any major developments will be announced in due course. |
| Previous Announcement | Alkhaleej Training and Education Co. announces signing a Memorandum of Understanding with Al-Khabeer Financial Company |
| Date of Previous Announcement on Tadawul’s Website | 2020-08-09 Corresponding to 1441-12-19 |
| Progress | NA |
| Event’s Expected Completion Date | NA |
| Reasons for Exceeding the Announced End Date | NA |
| Expenses Related to the Event, Whether They Changed or Not and Justification | NA |
| Impact of the Delay on the Company’s Financial Results | NA |
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