Muscat – The Capital Market Authority stated that it has followed the deliberations regarding the decision of the Extraordinary General Meeting (EGM) of Oman Investment and Finance Company, which discussed the proposal to dissolve the Company (The Merged Company), and its merger through consolidation into Dhofar International Development and Investment Holding Company.

‘In this regard, the Authority would like to confirm that it gives the best priority to protect the interests of investors, especially small shareholders, while taking all measures to ensure that they have sufficient authority to exercise their rights to attend the EGM, actively participate in voting, build and object to the strategic decisions of the company,’ said the CMA statement.

It also pointed out that within the framework of the law, it provides protection to the shareholders to voice their grievance and object to the decisions of the EGM in accordance with the provisions of the Commercial Companies Law of the Authority. The law grants the right to object to any of the shareholders who individually or jointly owns a percentage of not less than 5% of the company’s shares and claim within five working days from the date of issuance of the Assembly’s decisions to stop these decisions if they deem them harmful, or if it appears that they were issued in favor of a specific category of shareholders, or to bring special benefit to members of the Board of Directors or others.

The Authority warns against violating or circumventing the applicable laws and regulations in order to avoid imposing any financial fines or administrative or other penalties.