Alkhaleej Training and Education Company announces the Recent developments regarding the announcement of the Company for the signing of a (non-binding) memorandum of understanding with Adwaa Al-Hidaya Private Schools Company for Boys and Girls (a Saudi closed joint stock company)
| Element List | Explanation |
|---|---|
| Introduction | In addition to the announcement of the Al Khaleej Training and Education Company that it had signed a non-binding memorandum of understanding on 22-02-1445 corresponding to 07-09-2023 with Adwaa Al-Hidaya Private Schools Company for Boys and Girls (a Saudi closed joint stock company), which owns Adwaa Al-Hidaya School and Regat Jarmar International Schools for Multinational Education in the city of Riyadh, to potentially acquire an 80% interest) of its ownership shares in the aforementioned schools upon reaching a final agreement between the two parties,
the Al Khaleej Training and Education Company would like to announce its appointment of Alinma Investment Company as a financial advisor for the acquisition process instead of Adeem Capital. |
| Previous Announcement | Corrective announcement from Al-Khaleej Training and Education Company regarding the announcement of the signing of a (non-binding) memorandum of understanding with Adwaa Al-Hidaya Private Schools Company for Boys and Girls (a Saudi closed joint stock company). |
| Date of Previous Announcement on Saudi Exchange’s Website | 2023-09-07 Corresponding to 1445-02-22 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | Appointed Alinma Investment Company as a financial advisor for the acquisition process instead of Adeem Capital. |
| Reasons For The Delay on The Date of The Event Previously Announced | NA |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | No change |
| Delay consequences on the Company’s financial results | NA |
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