The Minister of Commerce and Industry Abdullah bin Ahmed Zainal Ali Reza approved here today the transformation of Holding Company of National Air Services NAS from a limited liability company to a closed joint stock company. Dr. Hassan Fadhel Aqeel, the Undersecretary of Ministry of Commerce and Industry for Internal Trade said in a statement today that the company's capital is SR1,000 million, divided into 100 million shares with nominal value of SR 10 for 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; the duration may be extended by a decision of the company's extraordinary general assembly. It is noteworthy that the Company shares can be traded only after obtaining the approval of Capital Market Authority (CMA).
