Ataa to complete EGM measures to discuss increasing capital for Naba’a acquisition

26/05/2022 Argaam

Logo of Ataa Educational Co. 

Ataa Educational Co. will complete the necessary measures for holding an extraordinary general assembly meeting (EGM) to discuss increasing its capital for the acquisition of Naba'a Educational Co. Ataa will complete the required measures in coordination with the relevant authorities.

 

Ataa will complete the required measures in coordination with the relevant authorities, which will be announced in due course.

 

A shareholders’ circular regarding the company’s capital increase will be published in a sufficient time before the EGM date, the company said in a statement to Tadawul.

 

The Capital Market Authority (CMA) approved Ataa’s application to increase its capital from SAR 400 million to SAR 420.87 million through issuing 2.09 million ordinary shares to acquire Naba'a, through its wholly-owned subsidiary, Arabian Educational and Training Group, Argaam reported.

 

In December 2021, the company signed a sale and purchase agreement (SPA) to acquire Naba'a through Arabian Education.

 

For More Mergers and Acquisitions

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