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Ataa Educational Company announces the acquisition of 52% of Al Wasat National Schools for Training and Education Company (a limited liability company).

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Introduction Referring to the announcement of Ataa Educational Company on 12/19/1441 AH corresponding to 08/09/2020 AD, and announced in (Tadawul) regarding the signing of the Memorandum of Understanding with the owners of Al Wasat National Schools for Training and Education Company (a limited liability company) to acquire a stake of 52% Al Wasat National Schools.

Company for Training and Education (the subject of acquisition) in Riyadh, Ataa Educational Company announces that it has signed a partnership agreement with 52% of Al Wasat National Schools Company for Training and Education (a limited liability company) in exchange for a land provided by Ataa and Represented in the transfer of land ownership in favor of the company (the place of acquisition).

Date of Posting the Previous Announcement of Development on Tadawul's Website 2020-08-09 Corresponding to 1441-12-19
URL of the Previous Announcement Click Here
Change on the Development Ataa Educational Company announces that it has signed a 52% acquisition agreement with Al Wasat National Schools for Training and Education Company (a limited liability company), in exchange for land presented by Ataa Company, by transferring of land ownership in favor of the company (the subject of acquisition).

And that after the procedures of the study of financial due diligence were completed by an independent consulting office.

Financial Impact on the change Ataa Education expects that the financial impact of the acquisition will appear, starting from the fourth quarter of the current financial year ending on 07/31/2021
Additional Information The agreement is subject to the approvals of the General Authority for Competition and other regulatory specialized parties to complete it.

Ataa Educational" will announce the essential developments in its time.

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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