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Saudi Arabia’s Al-Tahzeeb Company Transforms into a Joint Stock Company

Tahzeeb Company for Education Services with a capital of SR 18 million has been approved to be transformed from a limited liability into a closed joint stock company. This has been done by The Minister of Commerce and Industry Abdullah Ahmad Zaynal Ali Reza in . The company’s capital is divided into 1.8 million shares with a nominal value of SR 10 for each share. The founders have subscribed in all the shares of the company.

Starting from the date of the Ministerial approval decision the duration of the company is 99 years. But the duration may be extended by a resolution of the company’s extraordinary general assembly. Furthermore, there is no need to trade the Company’s shares only after obtaining the approval of Capital Market Authority ().

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