The Minister of Commerce and Industry Abdullah bin Ahmed Zaynal Ali Reza, approved here today the transformation of Saudi Airlines Company for Catering from a limited liability to a closed joint stock company. Dr. Hassan Fadhel Aqeel, the Deputy of the Ministry of Commerce and Industry for Internal Trade said that the Company's capital is SR 100,767,000 , divided into 10,076,700 shares with nominal value of 10 Saudi Riyals 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 resolution; the duration may be extended by a resolution of the Company's extraordinary general assembly. It is noteworthy that the Company's shares can be traded only after obtaining the approval of Capital Market Authority (CMA).
