Al Khaleej Training and Education Company announces updates on the file of the Capital Increase by way of Rights Issue submitted to the Capital Market Authority
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | Reference to the announcement of Al Khaleej Training and Education Company published on Tadawul’s website on 20/11/1442H (corresponding to 30/06/2021G), regarding submitting a file to increase the Company’s capital by way of rights issue to the Capital Market Authority based on the Board of Directors recommendation issued on 17/08/1442H (corresponding to 30/03/2021G), to increase the Company’s capital by offering rights issue shares, with a proposed increase of 200 million Saudi Riyals, by issuing 20 million new ordinary shares, so that the proposed increase in the capital will be from 450 million Saudi Riyals to 650 million Saudi Riyals. Conditional on obtaining the approval of the relevant official authorities and the extraordinary general assembly. |
| Date of Announcing the Application on Tadawul Website | 2021-06-30 Corresponding to 1442-11-20 |
| Date of Submitting the File | 2021-06-30 Corresponding to 1442-11-20 |
| Application Status at CMA | On the evening of 23/02/1443H (corresponding to 30/09/2021G), the Capital Market Authority issued its approval on the Company’s request to increase its capital by offering 20 million new ordinary shares. |
| Other Substantial Updates | The Capital Market Authority issued its approval after the Company fulfilled all the notes and requirements for the capital increase file. The necessary procedures are being taken to call for the extraordinary general assembly meeting for the increase the capital. |
| Additional Information | In accordance with the recommendation of the Board of Directors issued on 17/08/1442H (corresponding to 30/03/2021G), the main reason for the capital increase is to acquire assets in the education sector.The Company will announce any future developments in this regard in due course.. |
The Capital Market Authority and the Saudi Stock 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.
