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 sale and purchase agreement with the owners of Al-Riyadah Model Education Company

 

Element List Explanation
Introduction Al-Khaleej Training and Education Company announces the signing of a sale and purchase agreement with the owners of Al-Riyadah Model Education Company to acquire 51% of the total shares of ownership of Al-Riyadah Model Education Company
Date of signing the Memorandum of Understanding 2023-04-12 Corresponding to 1444-09-21
Memorandum Duration This memo shall be effective from the date of its signature for period of (120) days, renewable with the consent of both parties.
Name of the Counterparty The owners of Al-Reyada Model Company for Education (one person company)
Name of Financial Advisor of Each Party NA
Major Terms in the Memorandum This agreement is subject to a number of essential conditions agreed upon that must be met in advance, including but not limited to obtaining the approval of the relevant government agencies, including the General Authority for Competition, and the sellers’ termination of some legal procedures and requirements that were agreed upon in the contract.
Related Parties There is no related parties
Actions to be Taken by the Company during the Memorandum’s Duration Obtaining the approval of the competent government agencies, including the General Authority for Competition, and the vendors completing some of the procedures and legal requirements that were agreed upon in the contract.
Approvals This acquisition is subject to the approvals of the General Authority for Competition and the competent regulatory authorities.
Additional Information Any material developments regarding the agreement or acquisition will be announced in due course.

 

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