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Transformation of United Electronics Company
Saudi Press Agency Published in Saudi Press Agency on 20 - 02 - 2010

The Minister of Commerce and Industry Abdullah Ahmed Zainal Ali Redha approved here today the transformation of the Khobar-based United Electronics Company from a limited liability company into a closed joint stock company.
Dr. Hassan Fadhel Aqeel, Undersecretary of Ministry of Commerce and Industry for Internal Trade said that the company's capital is SR 100 million , divided into (10) million shares with nominal value of 10 Saudi Riyals each share. The founders subscribed in all the shares of the company.
The duration of the company is 99 years starting from the date of the Ministerial approval resolution; the duration may be extended by a resolution of the company's extraordinary general assembly.
It is noteworthy that the Company shares can not be traded only after obtaining the approval of Capital Market Authority (CMA).

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