National Company for Learning and Education Announces an update on The National Company for Learning & Education announces that it has signed a purchase agreement to purchase (100%) of the share capital in Al-Khawarzmi Education Company
| Element List | Explanation |
|---|---|
| Introduction | Subsequent to the announcement published by National Company for Learning &
Education "NCLE" on Tadawul’s website on 1441-03-13 H, corresponding to (2019-11-10) with regard to singing a Share Purchase Agreement “Agreement” to purchase 201 shares, which represent (100%) of the share capital in Al-Khawarzmi Education Company at agreed purchase price of thirty million (30,000,000) Saudi Riyals.
NCLE would like to announce the fulfilment of all conditions precedent stated in the Agreement including obtaining the approval from relevant regulatory authorities and sellers submission of additional representations and other documents to the NCLE.
Consequently, the ownership of the entire share capital in Al-Khawarzmi Education Company was transferred to NCLE, and the Memorandum of Association of Al-Khawarzmi Education Company was amended accordingly |
| Previous Announcement | The National Company for Learning & Education announces that it has signed a purchase agreement to purchase (100%) of the share capital in
Al-Khawarzmi Education Company |
| Date of Previous Announcement on Tadawul's Website | 2019-11-10 Corresponding to 1441-03-13 |
| Progress | %100 |
| Event's Expected Completion Date | The deal has been closed and memorandum of Association of Al-Khawarzmi
Education Company was amended accordingly |
| Reasons for Exceeding the Announced End Date | Not Apply |
| Expenses Related to the Event, Whether They Changed or Not and Justification | No changes |
| Impact of the Delay on the Company's Financial Results | Not Apply |
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