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.
