Taaleem Holdings PJSC

The board meeting of Taaleem Holdings PJSC took place on Thursday, December 12, 2024, from 3:00 PM to 5:00 PM. Eight board members were present, achieving an 89% quorum. The meeting involved discussions on routine business matters and a review of the company's activities. The authorized signatory for the meeting was Khalid Al Tayer, the Chairman of the Board of Directors.

The letter is from Alan Williamson, the Chief Executive Officer of Taaleem Holdings PJSC, addressed to Mr. Hamed Ahmed Ali, the Chief Executive Officer of the Dubai Financial Market. It informs him about a scheduled Board of Directors meeting for Taaleem Holdings PJSC on Thursday, December 12, 2024, at 3:00 pm. The meeting will be held at the company's office and via remote attendance to discuss routine business issues, follow up on the company's activities, and address any other matters with the Chairman's permission. A copy of the letter is also sent to the Securities and Commodities Authority.

Taaleem Holdings PJSC has announced its acquisition of Lycée Libanais Francophone Privé Meydan (LLFP Meydan), a French curriculum school in Dubai with a capacity for 1,900 students. This acquisition complements Taaleem’s existing network of UK, IB, and American curriculum schools, enhancing its diverse educational offerings. LLFP Meydan currently enrolls 1,300 students from 26 nationalities, focusing on the French curriculum. Located in the rapidly developing Meydan area of Dubai, the school spans over 35,700 square meters with seven environmentally friendly buildings. In its first KHDA inspection in 2024, the school was rated 'Very good' with several 'Outstanding' features. The acquisition aligns with Taaleem's mission of educational excellence and will be integrated into its financials in FY2024/25.

Taaleem Holdings PJSC held its Annual General Assembly on November 5, 2024, at Dubai British School and virtually. The assembly approved several key items: the Board of Directors' report on company activities and financial position for the fiscal year ending August 31, 2024; the auditor's report for the same period; the company's balance sheet, profit and loss, and financial statements; a cash dividend distribution of AED 120 million (AED 0.12 per share, representing 12% of the paid-up share capital); and the Board of Directors' remuneration proposal for the period from September 1, 2023, to August 31, 2024, totaling AED 5.25 million.

Taaleem Holdings PJSC has announced its acquisition of land and property assets in Emirates Hills, Dubai, to expand the Dubai British School - Emirates Hills (DBSEH). The assets, currently housing the Amity Early Learning Centre, will be transformed into a modern campus for students from FS1 to Year 2 by 2025, pending legal and regulatory approvals. This expansion aims to enhance Taaleem's educational offerings and provide a focused learning environment for young students. Taaleem will lease the properties back to Amity Education Services for 10 months to ensure a smooth transition. The expansion is part of Taaleem’s strategy to increase premium education offerings and is expected to be financially beneficial from the first year. Parents of children at Amity Early Learning Centre are encouraged to apply for admission to DBSEH, with applications subject to the usual process.

Taaleem Holdings PJSC invites its shareholders to attend the Annual General Assembly Meeting on November 5, 2024, at Dubai British School, Jumeira, Dubai, UAE, with the option to join electronically. The agenda includes reviewing and approving the Board of Directors' report on the company's activities and financial position, the auditor's report, and the balance sheet and profit and loss statements for the fiscal year ending August 31, 2024. The meeting will also consider approving a cash dividend of AED 120 million, the Board's remuneration of AED 5.25 million, discharging or dismissing Board members and external auditors from liability, and appointing external auditors for the fiscal year ending August 31, 2025, along with determining their remuneration.

Taaleem Holdings PJSC announced its financial results for the fiscal year 2023/24, showing significant growth. The company recorded revenues of AED 945.2 million, a 15.5% increase from the previous year, driven by a 33.1% rise in student enrolment. EBITDA increased by 32.0% to AED 270.8 million, with an EBITDA margin of 28.6%. Net profit before tax rose by 55.1% to AED 182.0 million, with a net profit margin of 19.3%. The company expanded its capacity by adding 9,119 students, achieving a total enrolment of 37,930 students. Taaleem also reported a negative net debt of AED 560.3 million, reflecting increased debt to support the development of new schools in Dubai. The company's free cash flow to the firm was AED 243.6 million, indicating strong financial health.

Taaleem Holdings PJSC held a board meeting on Thursday, October 3, 2024, from 3:00 PM to 5:00 PM, with all nine board members present, achieving a 100% quorum. During the meeting, the board approved the consolidated financial statements for the fiscal year ending August 31, 2024, and the Annual Integrated Report. They proposed to recommend to the Annual General Assembly (AGM) the distribution of cash dividends to shareholders amounting to AED 120 million (AED 0.12 per share, representing 12% of the company's paid-up share capital). Additionally, subject to approval from the Securities and Commodities Authority (SCA), the board set the AGM date for November 5, 2024.