Page 219 - ALEF EDUCATION PR REPORT MAY 2024

East and North Africa with a portfolio spanning multiple asset classes,
industries, and geographies.

The selling Shareholders expect to sell 20 per cent of the total issued

share capital of Alef Education (equivalent to 1,400,000,000 shares).
All shares are existing shares being sold by the Selling Shareholders,
Tech Nova Investment - Sole Proprietorship LLC and Kryptonite

Investments LLC and the Company will not receive any proceeds
from the Offering. The First Tranche offer (Individual Investors and
other investors, including natural persons, companies and

establishments as defined in the UAE Prospectus) subscription period
is expected to run from May 28 to June 4, 2024.

The Second Tranche offer (Professional Investors as defined in the
UAE Prospectus) subscription period is expected to run from May 28
to June 5, 2024. The Internal Shariah Supervision Committee of First

Abu Dhabi Bank PJSC has issued a pronouncement confirming that,
in their view, the Offering is compliant with Shariah principles.
Investors should undertake their own due diligence to ensure that the

Offering is Shariah-compliant for their purposes.

The Selling Shareholders reserve the right to amend the size of the
Offering at any time before the end of the subscription period, subject
to applicable laws and the approval of the Securities and

Commodities Authority (SCA) in the UAE. Admission of shares to
trading on the ADX is anticipated to occur on or around June 12,
2024.

Commenting on the announcement, Abdulhamid Mohammed Saeed

Alahmadi, Chairman of Alef Education's Board of Directors, said,
"Our successful track record of growth, underpinned by the value we
provide and the trust we have built with international governments,
customers, and partners - including ADEK - has culminated in this

milestone moment. "With a robust governance framework, seasoned
leadership team, and clear growth strategy, we firmly believe that
Alef Education is ready to become a publicly listed company. We are

not only offering investors the opportunity to participate in the growth
of a company with a truly unique proposition - as the first-ever

https://www.devdiscourse.com/article/international/2944255-alef-education-holding-
announces-intention-to-list-on-adx