15/08/2013
East Chamber meeting in cooperation with (Tadawel)
AlSheik sponsoring the forum (turning the family business into contribution)
AlRashid: Forum presents the transformation positives and its importance to the national economy
The Chairman of Saudi capital market authority Mohammed bin AbdulMalik Al-Sheikh is patronizing the Forum (family business turned into joint stock companies), organized by the Chamber in cooperation with Saudi stock exchange (Tadawul) on Wednesday 11 September 2013) at the Chamber headquarters in Dammam, which is devoted to discuss the many issues related to this matter, indicating positive aspects that stresses the need and importance of the transformation of companies and the national economy.The Chairman of the Board of Directors of the Chamber Abdul Rahman bin Rashed, adding that the Forum is aimed at reviewing the role of transformation in the preservation of continuity of the family company, and ensuring the continuity of their success, growth and development under current economic challenges.
The Forum was held with the participation of selected specialist who highlights the experiences of a number of family businesses and their stories after the transformation into joint stock companies, also to stands on some of the challenges that have been overtaken by these companies, the Forum will highlight the most important principles of corporate governance and its impact on the family business. AlRashid said that the participants in the Forum will offer advantages and challenges for transferring family companies into joint stock companies, and the mechanisms of transformation, the expected economic impacts and implications of this conversion.
Al-Rashed said that this meeting is a valuable opportunity to meet with businessmen and investors in the eastern region, officials in the capital market authority, the Saudi stock exchange (Tadawul), financial advisers and specialists and lawyers. Stressing that this forum brought awareness message to businessmen and owners of family businesses for the importance of transformation, clarification of the technical and legal aspects, through knowledge, ways and means of transformation, the previous experiences of the family companies listed on the Saudi stock market, as well as make them aware of the challenges that might face them in this way.
