Ataa Educational Co. — Capital/Financing Update 2022

May 26, 2022

Ataa Educational Co. Announces an update on Ataa Educational Co. Announces the Signing of an Agreement to Purchase Naba'a Educational Company by Increasing Capital through Issuing Shares for Naba'a Educational Company's Shareholders

4292 · 26/05/2022 08:13:12 · Announcement #68497 · View on Saudi Exchange

Ataa Educational Co. Announces an update on Ataa Educational Co. Announces the Signing of an Agreement to Purchase Naba'a Educational Company by Increasing Capital through Issuing Shares for Naba'a Educational Company's Shareholders

Element List	Explanation
Introduction	In reference to Ataa Educational Company’s (the “Company”) announcement in relation to signing a Share Purchase Agreement on 10/05/1443H (corresponding to 14/12/2021G), for the purpose of acquiring all the shares in Naba'a Educational Company (“Naba’a”), in exchange for the issuance of new shares in the Company to the Selling Partners in Naba'a Educational Company (the “Selling Partners in Naba’a”), it pleases the Company to announce to its shareholders that the Capital Market Authority (“CMA”) issued its approval on 24/10/1443H (corresponding to 25/05/2022G) in respect of the Company’s application to increase its capital for the purpose of acquiring all the shares in Naba'a Educational Company via its subsidiary Arabian Education and Training Group Holding Company (“AETG”) (fully owned by the Company) through the issuance of new shares to the Selling Partners in Naba’a.
Previous Announcement	Ataa Educational Co. Announces the Signing of an Agreement to Purchase Naba'a Educational Company by Increasing Capital through Issuing Shares for Naba'a Educational Company's Shareholders
Date of Previous Announcement on Tadawul's Website	2021-12-14 Corresponding to 1443-05-10
Percentage of fulfilled achievement	N/A
Event's Expected Completion Date	N/A
Reasons for Exceeding the Announced End Date	N/A
The costs associated with the event, and if they have changed or not with indication of the reasons.	N/A
Impact of the Delay on the Company's Financial Results	N/A
Additional Information	The Company acquired the approval of the CMA to increase its 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, for the purpose of acquiring all the shares in Naba'a via its subsidiary AETG (fully owned by the Company) through the issuance of two million eighty-seven thousand two hundred ad fifteen (2,087,215) new shares to the Selling Partners in Naba’a. Thus, increasing the number of shares at the Company from forty million (40,000,000) shares to forty-two million eighty-seven thousand two hundred and fifteen (42,087,215) shares, amounting to an increase of (5.22%) of the Company's capital before issuing the new shares.

The company will complete the procedures for holding the extraordinary general assembly of its shareholders in coordination with the relevant authorities and announce that at a later time, and the shareholders’ circular regarding the company’s capital increase will be published sufficiently before the date of the mentioned extraordinary general assembly.

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.