National Gas directed to suspend EGM resolutions

29/03/2012 13:28 AST

National Gas Company says it has received a letter from the Capital Market Authority (CMA) directing it to suspend the resolutions passed at an extraordinary general meeting (EGM) of the company held on March 2, 2012.

The CMA’s decision has been issued on the application of one of the shareholders pursuant to Article 8 of the Capital Market Authority Law (Royal Decree 80/98). In accordance with Article 8 of the Capital Market Law the complaining shareholder is required to file a complaint with the Appeals Committee of the CMA within 15 days from the CMA suspension decision dated March 17, 2012 in order to cancel the resolutions passed at the EGM the company held on March 2, 2012 and the decision of the Appeals Committee will be final and binding on the parties.

In the event that the complaining shareholder does not file a complaint with the Appeals Committee of the Capital Market Authority within the prescribed period, the suspension decision of the Capital Market Authority shall lapse, National Gas stated in a disclosure notification yesterday.


Oman Daily Observer

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