Ataa Educational Co. — Capital/Financing Update 2022

Jul 21, 2022

Ataa Educational Co. Announces the Conclusion of Acquisition of Naba’a Educational Company Through Its Fully Owned Subsidiary Arabian Education And Training Group Holding Co.

4292 · 21/07/2022 15:34:23 · Announcement #69319 · View on Saudi Exchange

Ataa Educational Co. Announces the Conclusion of Acquisition of Naba’a Educational Company Through Its Fully Owned Subsidiary Arabian Education And Training Group Holding Co.

Element List	Explanation
Introduction	Ataa Educational Company (the “Company”) announces the completion of the acquisition procedures of the entire shares of Naba’a Educational Company through its subsidiary Arabian Education and Training Group Holding Co. (fully owned by the Company).
Acquisition Procedures Conclusion Date	2022-07-22 Corresponding to 1443-12-23
Summary of Acquisition / Purchase	Completion of the acquisition procedures of the entire shares of Naba’a Educational Company amounting to fifty thousand (50,000) shares, representing (100%) of the share capital of Naba’a Educational Company, the acquisition was done through the Company’s subsidiary Arabian Education and Training Group Holding Co. (fully owned by the Company), through the issuance of new shares in the Company to the Selling Partners of Naba’a Educational Company, by way of increase of the Company’s share capital from four hundred million (400,000,000) Saudi Riyals to four hundred and twenty million eight hundred and seventy-two thousand one hundred and fifty (420,872,150) Saudi Riyals through the issuance of two million eighty-seven thousand two hundred and fifteen (2,087,215) new ordinary shares in the Company to the Selling Partners of Naba’a Educational Company, which increases the number of shares in the Company from forty million (40,000,000) shares to forty two million eighty-seven thousand two hundred and fifteen (42,087,215) shares (“Acquisition Deal”).
Related Parties	This Acquisition Deal involves the existence of related parties as follows:

- Bader Nasser Mohammad Al-Olaiwi (one of the selling partners of Naba’a Educational Company) who holds the position of CEO in the Academic Company For Educational Services (a closed joint stock company under Commercial Registration No. (1010185850)), which is (52.22%) owned by Arabian Education and Training Group Holding Co. (a subsidiary company). In addition to being a director in each of the following companies:

a) Al Yasmin International Company (a limited liability company under Commercial Registration No. (1010254228)), which is (49%) owned by the Arabian Education and Training Group Holding Co. (a subsidiary company);

b) Glory Generation International National School Company (a limited liability company under Commercial Registration No. (1010365683)), which is (45%) owned by Arabian Education and Training Group Holding Co. (a subsidiary company);

c) Al-Alson International School Company (a limited liability company under Commercial Registration No. (1010270429)), which is (62.8%) owned by Arabian Education and Training Group Holding Co. (a subsidiary company);

d) Creative Development Company (a single shareholder limited liability company under Commercial Registration No. (1010993843)), which is (100%) owned by Arabian Education and Training Group Holding Co. (a subsidiary company);

e) Al-Faisal International Academy Institutes Training Company (a single shareholder limited liability company under Commercial Registration No. (1010357337)), which is (100%) owned by Arabian Education and Training Group Holding Co. (a subsidiary company);

f) Amjad Qurtoba Educational Services Company (a single shareholder limited liability company under Commercial Registration No. (1010299760)), which is (100%) owned by Arabian Education and Training Group Holding Co. (a subsidiary company).

It should also be noted that Bader Nasser Mohammad Al-Olaiwi owns (2,394) shares in the Company before the completion of the Acquisition Deal (as of 15/09/1443H (corresponding to 16/04/2022G)).

- Ahmed Abdulrahman Abdullah Al-Taweel (one of the selling partners of Naba’a Educational Company) is a member of the Board of Directors of the Academic Company For Educational Services (a closed joint stock company under Commercial Registration No. (1010185850)), which is (52.22%) owned by Arabian Education and Training Group Holding Co. (a subsidiary company). Financial Impact The financial impact will be visible on the financial results for the year ending on July 31, 2022. Ownership and Legal Documents Transfer Conclusion Date 22/12/1443H (corresponding to 21/07/2022G)

The Capital Market Authority and Saudi 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.