Al Khaleej Training and Education Company announces the latest developments regarding the binding memorandum of understanding signed with Al Ruqy National Schools Company Ltd.
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | A reference to the announcement by Al Khaleej Training and Education Company on the Tadawul website on 24/12/2020 AD about the latest developments regarding the binding memorandum of understanding signed with the Al Raqi National Schools Company Ltd. on 24/11/2020 AD to acquire a percentage (60%) of the ownership shares of the National Roqy Schools Conditional on the completion of due diligence checks and the signing of the sale and purchase agreement.The company wishes to announce that it has been agreed with the owners of the Al-Raqi National Schools Company Ltd. to extend the memorandum of understanding for the second time with the same previous terms and conditions for another additional period of (180) days from the start of the date of March 23/03/2021 AD in order to complete the examinations of ignorance and obtain the necessary licenses For the new girls’ pool. |
| Previous Announcement | Al Khaleej Training and Education Company announces the latest developments regarding the binding memorandum of understanding signed with Al Ruqy National Schools Company Ltd. (a limited liability company) |
| Date of Previous Announcement on Tadawul’s Website | 2020-12-24 Corresponding to 1442-05-09 |
| Percentage of fulfilled achievement | NA |
| Event’s Expected Completion Date | NA |
| Reasons for Exceeding the Announced End Date | NA |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | NA |
| Impact of the Delay on the Company’s Financial Results | NA |
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