Muscat – In a disclosure issued on Muscat Stock Exchange, OIFC stated that a judicial ruling has rejected a lawsuit filed against a company over a merger. This ruling comes as a culmination of a legal dispute initiated by a group of shareholders, as detailed in a previous disclosure issued on February 27, 2024.

The lawsuit, filed by shareholders, sought to invalidate resolutions passed during an extraordinary general meeting (EGM) related to the company’s proposed dissolution merger with Dhofar International Development and Investment Holding Company SAOG through incorporation.
“We would like to inform you that the competent court issued its judgment today, Tuesday, March 19, 2024, (rejecting the lawsuit, as per the reasons stated, and has ordered the plaintiffs to bear the expenses),” states the OIFC announcement.