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Alkhaleej Training and Education Co. Announces an update on Extending the expiration date of the agreement from March 31, 2025, to June 30, 2025.
4290
ALKHALEEJ TRNG
2.08
%
1447/01/05 30/06/2025 16:02:47
| Element List | Explanation |
|---|---|
| Introduction | Referring to the announcement of Al Khaleej Training and Education Company (the “Company”) published on the Tadawul website on 26/03/2025G regarding extend the expiry date of the Sale and Purchase Agreement (the “Agreement”) from 31 March 2025G to 30 June 2025. The agreement related to the acquisition of one million and six hundred thousand (1,600,000) ordinary shares in Adwaa Al-Hedaya Private Schools for Boys and Girls (“Adwaa Al-Hedaya”), equivalent to 80% of Adwaa Al-Hedaya shares in exchange for issuing new shares in the company to the selling shareholder in Adwaa Al-Hedaya (which is Ethraa Holding Company, a closed joint stock company) (the “Selling Shareholder”) (“Acquisition Transaction”). The Company would like to announce to its valued shareholders the latest developments. |
| Previous Announcement | Extending the expiration date of the agreement from March 31, 2025, to June 30, 2025. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2025-03-26 Corresponding to 1446-09-26 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The company would like to inform its shareholders that the extension period for the agreement to acquire 80% of Adwaa Al Hedaya Schools has expired today, June 30, 2025. Accordingly, the agreement expired without obtaining the approval of the Capital Market Authority. Accordingly, the company's board of directors decided today, June 30, 2025, that it does not wish to extend the agreement for an additional period. Accordingly, the agreement was terminated between the two parties upon expiration of its term without reaching a completion of the transaction. |
| Reasons For The Delay on The Date of The Event Previously Announced | Not applicable. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | Not applicable. |
| Delay consequences on the Company’s financial results | Not applicable. |
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.
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