- Approval to submit an offer to acquire 100% of the share capital of Manarat Educational Services Co. W.L.L.
The total acquisition offer amounts to KWD 3.5 million, to be paid by the Company upon completion of the acquisition procedures. The completion of the acquisition is subject to the approval of the selling party and the relevant authorities.
2. Approval to recommend to the Company’s General Assembly the amendment of Article (5) of the Memorandum of Association and Article (4) of the Articles of Association related to the Company’s objectives, by adding the activity “Custodian” to the Company’s business activities.
Impact of the material information on the Company’s financial position:
There is no current impact prior to the completion of the acquisition. Upon completion, the Company’s investments will increase by KWD 3.5 million, offset by a corresponding decrease in cash by the same amount.
