The Minister of Commerce and Industry, Abdullah bin Ahmed Zainal Ali Reza, approved here today the transformation of Companies of General Lighting and Consultants Center of Diagnostic X-Ray from limited liability into closed joint stock companies. Dr. Hassan Fadhel Aqeel, the Undersecretary of Ministry of Commerce and Industry for Internal Trade said that the General Lighting Company's capital is SR 200 million, divided into 20 million shares and the Center's capital is SR 2.5 million divided into 250,000 shares, with nominal value of 10 Saudi Riyals for each share. The founders subscribed in all the shares of the companies. The duration of each 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 companies' shares can be traded only after obtaining the approval of Capital Market Authority (CMA).
