ID :
44782
Sun, 02/08/2009 - 20:47
Auther :
Shortlink :
https://www.oananews.org//node/44782
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Minister approves conversion of Al-Yamama Granite and Marble to Joint Stock Company
Riyadh, February 08, SPA -- Minister of Commerce and Industry
Abdullah Zain Al-ali Rida has approved the conversion of Al-Yamama
Granite and Marble from a company with limited responsibility into a
joint stock company with a capital of SR 126 million.
The shares of the company will be split into 12,600,000 shares and
the nominal value of each share amounts to SR 10.
The company will be managed by a four-member Board of Directors who
are to be appointed by the company’s general assembly for a period of
three years.
This development comes in line with the state's policy which aims at
broadening the economic base and diversification of the national
income as well as encouraging the private sector to play an effective
role in the process of economic development.
--SPA
Abdullah Zain Al-ali Rida has approved the conversion of Al-Yamama
Granite and Marble from a company with limited responsibility into a
joint stock company with a capital of SR 126 million.
The shares of the company will be split into 12,600,000 shares and
the nominal value of each share amounts to SR 10.
The company will be managed by a four-member Board of Directors who
are to be appointed by the company’s general assembly for a period of
three years.
This development comes in line with the state's policy which aims at
broadening the economic base and diversification of the national
income as well as encouraging the private sector to play an effective
role in the process of economic development.
--SPA
