MUSCAT – In a disclosure to shareholders, the company’s Board of Directors said the meeting, scheduled for November 12, 2025, will focus on measures to restore the company’s capital in compliance with Article 147 of Oman’s Commercial Companies Law, which mandates corrective action when losses exceed total capital. The board is seeking shareholder approval to formulate a detailed capital restoration plan within 60 days of the meeting.

Based on unaudited figures, Raysut Cement estimates that restoring compliance could require up to RO 44.99 million. The company outlined several potential recovery options, including a rights issue, fresh equity infusion, debt-to-equity conversion, issuance of convertible instruments, or strategic divestments.
According to the board note, any new funds would be directed toward stabilising the company’s financial position and operations. Priority areas include debt restructuring and settlement, working capital support, maintenance and operational needs, and selective capital expenditure aimed at improving efficiency and reducing energy costs.

The board cautioned that failure to resolve the capital deficiency within the legal timeframe could expose Raysut Cement to compulsory liquidation, though it maintained that the business remains viable as a going concern provided fresh funding is secured and implemented as planned.

The company has invited shareholders to attend the EGM, scheduled for Wednesday, November 12, 2025, at 3:00 p.m. via the electronic platform of the Muscat Clearing & Depository Company (www.mcd.om). If quorum requirements are not met, a second EGM will be held on Sunday, November 16, 2025, at the same time and platform.

The EGM agenda includes presentation of the reasons behind the erosion of the company’s capital as per the Commercial Companies Law; authorisation for the Board of Directors to take corrective actions, which may include a rights issue, bridge loan, debt-to-equity conversion, fresh share issuance, or strategic divestment.