Ataa Educational Co. — Capital/Financing Update 2021

Jun 20, 2021

Ataa Educational Company announces the conclusion of the purchase deal of the Education International Schools LLC

4292 · 20/06/2021 15:38:28 · Announcement #63813 · View on Saudi Exchange

Ataa Educational Company announces the conclusion of the purchase deal of the Education International Schools LLC

Element List	Explanation
Introduction	Further to the company's announcement on Tadawul website on Monday, 14-09-1442 AH, corresponding to 26-04-2021 AD regarding the latest developments in the purchase deal of Al-Elm International Schools Company, the company announces to its esteemed shareholders the completion of all procedures required to conclude the deal and transfer the entire shares of Al-Elm International Schools Company from the selling shareholders to Ataa Educational Company on Sunday, 10-11-1442 AH, corresponding to 20-06-2021 AD.
Acquisition Procedures Conclusion Date	2021-06-20 Corresponding to 1442-11-10
Summary of Acquisition / Purchase	Al-Elm International Schools Company is a limited liability company that owns and operates Al-Elm Schools complex in Riyadh. Its main activity is the management, operation, and development of international schools for all pre-college educational levels according to the American curriculum and for males and females.

Ataa Educational Company signed an agreement to purchase the entire shares of Al-Elm International Schools Company for a total value of (40) million Saudi riyals, on 7-5-1442 AH corresponding to 21-12-2020.

This deal comes in line with Ataa Educational Company's strategy to expand its services in the educational sector to provide distinguishing educational services to citizens and residents and to maximize the return on equity for the company's shareholders. Related Parties The Board of Directors' members: Dr. Ahmed bin Nasser Al-Mutib, and Ms. Farah bint Ahmed Al-Mutib, are considered related parties in the deal due to their indirect interest in the transaction. Financial Impact The financial impact of the deal will be visible on the financial results of the current fiscal quarter (Q4) of the fiscal year ending on 31-07-2021. Ownership and Legal Documents Transfer Conclusion Date Sunday 20-06-2021

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