Ataa Educational GA to discuss capital increase by issuing shares worth SR20.87 mln

The Board of Directors of Ataa Educational (“Ataa” or “Ataa Company”) Company is pleased to invite the valued shareholders to participate and vote in the Extraordinary General Assembly Meeting (the first meeting), which is scheduled to be held, God willing, on [Wednesday],30/11/1443H (corresponding to29/06/2022), at [7:30] pm, by means of Modern Technology.

Meeting Agenda:

1. Voting on increasing the capital of Ataa Company according to the following:

First: The capital will be increased from four hundred million (400,000,000) Saudi riyals to four hundred twenty million eight hundred and seventy two thousand one hundred and fifty (420,872,150) Saudi riyals by issuing two million and eighty-seven thousand two hundred and fifteen (2,087,215) new shares with a nominal value of twenty million eight hundred seventy two thousand one hundred and fifty (20,872,150) Saudi riyals in favor of the selling shareholders of Naba’a Educational Company in exchange for transferring all the shares in Naba’a Educational Company to Arabian Education and Training Group Holding Company (a company wholly owned by Ataa Educational Company) in accordance with the terms and conditions of the Sale and Purchase Agreement, signed between each of the selling partners of Naba’a Educational Company, Ataa Educational Company and the Arabian Education and Training Group Holding Company on 05/09/1443 AH (corresponding to 12/13/2021G).

Second: Amending the Article seven of the Company’s Bylaws related to the capital. (attached)

Third: Amending the Article eight of the Company’s Bylaws related to the subscription of shares. (attached)

Fourth: Authorizing the Board of Directors of Ataa Educational Company or any person authorized by the Board of Directors of Ataa Educational Company to issue any decision or take any action that may be necessary to implement any of the aforementioned decisions related to the acquisition of Nabaa Educational Company.

1. Amending the Article twenty-two of the statute of Ataa Company concerning the authority of the President, Vice-President, Managing Director and Secretary. (attached)

According to Article (34) of the company’s Bylaws, The meeting of the Extraordinary General Assembly is not valid unless attended by shareholders representing half of the capital, If this quorum is not available in the first meeting, the second meeting will be held an hour after the end of the period specified for the first meeting, and the second meeting is Valid if attended by shareholders representing quarter of the capital.

Eligibility for Attendance Registration and Voting Ends upon the Convenience of the General Assembly’s Meeting. Eligibility for Voting on the Meeting Agenda Ends upon the Counting Committee Concludes Counting the Votes.