National Gypsum Co. Announces the Execution of Memorandum of Understanding with Adwaa Al-Hidaya Schools Company for Boys and Girls is a closed joint stock company Acquiring for the potential acquisition of part or all of the shares of the Adwaa Al-Hidaya Schools Company for Boys and Girls in Riyadh upon reaching a final agreement between the two parties

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Saudi Arabia

National Gypsum Co. Announces the Execution of Memorandum of Understanding with Adwaa Al-Hidaya Schools Company for Boys and Girls is a closed joint stock company Acquiring for the potential acquisition of part or all of the shares of the Adwaa Al-Hidaya Schools Company for Boys and Girls in Riyadh upon reaching a final agreement between the two parties

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|Element List||Explanation|

|Date of signing the Memorandum of Understanding||2022-11-29 Corresponding to 1444-05-05|

|Memorandum Duration||This memorandum shall be effective from the date of its signature and for a period of (90) days from the date of signing it or until the completion of the signing of the final agreement - whichever is earlier and that the period is subject to extension|

|Name of the Counterparty||Adwaa Al-Hidaya Schools Company for Boys and Girls is a closed joint stock company|

|Name of Financial Advisor of Each Party||An experienced financial advisor will be appointed for this transaction and announced later|

|Major Terms in the Memorandum||It will be announced later|

|Related Parties||Managing Director of the Board of Directors, Mr. Fahad bin Thunayan bin Fahad Al-Thunayan|

|Actions to be Taken by the Company during the Memorandum’s Duration||Any material developments regarding the memorandum of understanding or the proposed purchase will be announced in due course|

|Approvals||Any material developments regarding the memorandum of understanding or the proposed purchase will be announced in due course|

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