GFH Financial Group B.S.C. (“GFH”) would like to update the shareholders that it has signed a non-binding Memorandum of Understanding with Al Khaleej Training and Education Company, a public company listed on Saudi Stock Exchange (Tadawul), to explore potential collaboration on the merger of their educational assets and companies (23 schools and a university) through a 100% exchange of in-kind shares. The merger aims to establish a new entity (a Saudi joint-stock company or an educational fund) to be listed on the Saudi Stock Exchange (Tadawul) within 24 to 36 months of the transaction’s completion, subject to obtaining the necessary regulatory approvals.
