Page 81 - ALEF EDUCATION PR REPORT - JUNE 2024

6/13/24, 10:42 AM Alef Education shares slump on ADX trading debut
Alef Education chief executive Geoffrey Alphonso says the company is open to both organic and inorganic
growth. Photo: Alef Education
For the financial years ending December 31, 2024 and 2025, Alef intends to

pay a target minimum dividend amount to investors equivalent to an
annualised dividend of Dh135 million for each year, the company said.

Alef is indirectly majority owned by Abu Dhabi Capital Group, a private
institutional investment company that has a multi-asset class portfolio across

the Mena region.

The company provides artificial intelligence-powered learning and digital
education resources to schools in the UAE, Jordan, Indonesia, Morocco and

the US.

Its platform serves about 7,000 schools, with about 1.1 million registered
students and 50,000 teachers.

The company is pursuing both organic and inorganic growth strategies and
looking to expand in markets closer to home, Mr Alphonso said last month.

“We have categorised the focus for the firm over the next few years … close to
the home market, which, we feel, are around the neighbouring GCC,” he said

at the time.

“We put boots on the ground in Saudi [Arabia], we've had some great
interaction in Qatar [and] there's still a lot of work to do here in the UAE.”

The company is also open to accretive acquisition and has a robust mergers
and acquisitions pipeline, he said at the time.

“We do have plans to close one to two, accretive M&A this year, which will

complement the business and help us fulfil our growth ambitions,” he added.

Updated: June 12, 2024, 4:24 PM
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