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National Company for Learning and Education Announces an update on The National Company for Learning & Education announcement that it has signed a purchase agreement to purchase (100%) of the share capital in Refan Company for Operation & Maintenance Limited (limited liability company)

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Introduction Subsequent to the announcement published by National Company for Learning & Education "NCLE" on Tadawul’s website on 11/03 /1442 corresponding to 28/10/2020 with regard to singing a Share Purchase Agreement “Agreement” to purchase 2,000 shares, which represent (100%) of the share capital in Refan Company for Operation & Maintenance Limited (related party) at agreed purchase price of (946,000) Saudi Riyals.

NCLE would like to announce the fulfilment of all conditions precedent stated in the Agreement including obtaining the approval from relevant regulatory authorities and sellers submission of additional representations and other documents to the NCLE.

Consequently, the ownership of the entire share capital in Refan Company for Operation & Maintenance Limited was transferred to NCLE, and the Memorandum of Association of Refan Company for Operation & Maintenance Limited was amended accordingly

Previous Announcement National Company for Learning & Education announces signing a share purchase agreement with the owners of Refan Company for Operation & Maintenance Limited (limited liability company)
Date of Previous Announcement on Tadawul's Website 2020-10-28 Corresponding to 1442-03-11
Percentage of fulfilled achievement 100 %
Event's Expected Completion Date The deal has been closed and memorandum of Association of Refan Company for Operation & Maintenance Limited was amended accordingly
Reasons for Exceeding the Announced End Date Not Apply
The costs associated with the event, and if they have changed or not with indication of the reasons. No changes
Impact of the Delay on the Company's Financial Results Not Apply

The Capital Market Authority and the Saudi Stock 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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