Investor Relationship

In line with the Kingdom’s Vision 2030 AD, and our project to build a human being, we believe in the importance of preserving the Arab spirit and cultural values that distinguish us as a people, and at the same time we realize that development and progress are necessary to interact with the modern world and the future.

Al-Khaleej Training and Education Company announces the signing of a (non-binding) Memorandum of Understanding with Al-Awael Gulf Holding Company (a Saudi LLC) and Al-Awael Private Schools Company (a Saudi LLC)

 

Element List Explanation
Introduction Al-Khaleej Training and Education Company announces the signing of a (non-binding) memorandum of understanding with the Al-Awael Gulf Holding Company in Riyadh to potentially acquire (70%) of the ownership shares of Al-Awael Private Schools Company in Riyadh, which is wholly owned by Awael Gulf Holding Company, upon reaching a final agreement between the two parties.
Memorandum Signing Date 2022-08-03 Corresponding to 1444-01-05
Counterparty Al-Awael Gulf Holding Company (a Saudi LLC) and Al-Awael Private Schools Company (a Saudi LLC))
Memorandum Subject Understanding to reach a final agreement for the acquisition of Al-Khaleej Training and Education Company (70%) of the ownership shares of Al-Awael Gulf Holding Company in Al-Awael Private Schools Company.
Memorandum Duration This memorandum shall be effective from the date of its signature and for a period of (120) days from the date of signing it or until the completion of the signing of the final agreement – whichever is earlier, and the period can be extended for other periods under a new written agreement between the two parties
Related Parties There are no related parties.
Financial Impact There is no financial impact currently
Additional Information Any material developments in relation to the memorandum of understanding or the proposed acquisition will be announced in due course. Al Khaleej Training and Education Company appointed Al Wasatah Al Maliah company (Wasatah Capital) as a financial advisor for this transaction.

 

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