Ataa Educational Co. — Capital/Financing Update 2023

Jan 2, 2023

Ataa Educational Co. Announces Lease Contract Sign Off with Tatweer Buildings Company

4292 · 02/01/2023 09:55:35 · Announcement #71556 · View on Saudi Exchange

Ataa Educational Co. Announces Lease Contract Sign Off with Tatweer Buildings Company

Element List	Explanation
Introduction	Ataa Educational Company announces signing an annual lease contract with Tatweer Procurement Company
Date of Announcement of the Award	2023-01-01 Corresponding to 1444-06-08
Contract Subject Matter	Leasing an Educating complex in Sulaymaniyah District in Riyadh
Date of Signing the Contract	2023-01-01 Corresponding to 1444-06-08
Contract Value	118,029,500
Contract Details	An annual lease agreement with Tatweer Building Company for an educational complex building on an area of (13,942) thirteen thousand nine hundred forty two square meters in Riyadh, in Sulaymaniyah district, for a period of (30) thirty years, with a total value of (118,029,500) one hundred and eighteen million twenty nine thousand five hundred Saudi riyals, annual leasing value of (4,001,000) four million and one thousand Saudi riyals. The Complex also has a carrying capacity of (2500) two thousand five hundred male and female students, and it is expected that the complex will initially operate by the beginning of next year.
Contract Duration	30 years
Financial Impact and the Relevant Period	The Financial Impact will be observed in the first half of the company's fiscal Year, which ends in 31-07-2023
Related Parties	N/A
Additional Information	The company will announce any material developments related to the lease contract and the project in due course.

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.