Riyadh — Mubasher: Almasar Al Shamil Education Company has reached an agreement to extend a non-binding memorandum of understanding (MoU) regarding the potential acquisition of a 60% equity stake in Al Qalam Educational Trade Company.
The extension has become effective on 1 October 2026, adding two months to the original agreement period, according to a bourse filing.
The MoU is now scheduled to expire on 30 November 2026. This follow-up announcement relates to the initial disclosure made by the company in June 2026.
According to the regulatory filing, the purpose of the extension is to allow sufficient time for the completion of due diligence processes and to conclude negotiations on the final binding agreements.
Almasar Education confirmed that all other terms of the MoU remain unchanged and stated there is no immediate financial impact resulting from this extension.
The listed firm added that any further material developments regarding the acquisition will be disclosed in accordance with local market regulations.
