Ataa Educational Co. — M&A Activity 2021

Aug 2, 2021

Ataa Educational Company announces the latest developments regarding the signing of a binding memorandum of understanding (MoU) with the Arabian Education and Training Group Holding Co. in relation to the potential acquisition of the full shareholders' shares of the company

4292 · 02/08/2021 15:48:47 · Announcement #64337 · View on Saudi Exchange

Ataa Educational Company announces the latest developments regarding the signing of a binding memorandum of understanding (MoU) with the Arabian Education and Training Group Holding Co. in relation to the potential acquisition of the full shareholders' shares of the company

Element List	Explanation
Introduction	Ataa Educational Company announces the signing of an appendix to the MoU with the Arabian Education and Training Group Holding Co., where the two parties agreed to amend the financial structure of the deal, so that the cash amount for the deal will be 60% of the transaction value, and the issued shares in Ataa company will be 40% of the transaction value.

The parties also agreed that the evaluation of the share price of Ataa Company for the purpose of this transaction will be 44 Saudi riyals, representing the average closing of 90 trading days for the share price of Ataa Company after signing the MoU and announcing the deal from 09/02/2021 to 20/06/2021 . Previous Announcement Ataa Educational Company announces the signing a binding memorandum of understanding (MoU) with the Arabian Education and Training Group Holding Co. in relation to the potential acquisition of the full shareholders' shares of the company Date of Previous Announcement on Tadawul's Website 2021-02-09 Corresponding to 1442-06-27 Percentage of fulfilled achievement 55% Event's Expected Completion Date Within the first quarter of the current fiscal year 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. Currently there is no change on the costs associated with the deal. Impact of the Delay on the Company's Financial Results N/A Additional Information The cash amount of the deal 60% of the transaction value includes the Arabian Education and Training Group Holding Company and its following subsidiaries:

- Academic Company For Educational Services,

- Al Yasmeen International Company,

- Glory Generation International National Schools,

- Creative Development Company,

- Al Faisal International Academy Institutes Training Company,

- Al Alson International Schools,

- Amjad Qurtuba Company for Educational Services.

The issued shares in Ataa Educational Company for 40% of the transaction value includes the acquisition of Naba’a Educational Company.

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