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)
|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|
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