Al Khaleej Training and Education company announces the signing of a share purchase agreement to acquire controlling stakes in Adhwa’a Al-Hidaya Private Schools Company for Boys and Girls by way Capital increase through the issuance of shares to the selling shareholders of the Adhwa’a Al-Hidaya Private Schools Company for Boys and Girls (a Saudi closed joint stock company).

Al Khaleej Training and Education company announces the signing of a share purchase agreement to acquire controlling stakes in Adhwa’a Al-Hidaya Private Schools Company for Boys and Girls by way Capital increase through the issuance of shares to the selling shareholders of the Adhwa’a Al-Hidaya Private Schools Company for Boys and Girls (a Saudi closed joint stock company).

Introduction

With reference to Al Al Khaleej Training and Education Company ("AlKhaleej") announcement dated 07/09/2023G in relation to signing a non-binding memorandum of understanding (MoU) between Alkhaleej and Adhwa’a Al-Hidaya Private Schools Company for Boys and Girls for the sale and purchase of shares representing 80% of the share capital of Adhwa’a Al-Hidaya Private Schools Company for Boys and Girls by way of a share swap. AlKhaleej announces that it has entered into a share purchase agreement on 28/03/2024G with the shareholders of Adhwa’a Al-Hidaya Private Schools Company for Boys and Girls (the "Selling Shareholder") (“Agreement”), for the purpose of acquiring shares in Adhwa’a Al-Hidaya Private Schools Company for Boys and Girls, corresponding to One million, six hundred thousand (1,600,000) ordinary shares, representing 80% of the share capital of Adhwa’a Al-Hidaya Private Schools Company for Boys and Girls, in exchange for the issuance of new shares in Alkhaleej to the Selling Shareholder, whereby Alkhaleej capital will be increased from Six hundred fifty million Saudi Riyals (SAR 650,000,000) to Eight Hundred eighty seven million, Five hundred seventy one thousand and four hundred thirty Saudi Riyals (SAR 878,571,430) through the issuance of twenty two million, eight hundred