هذه الصفحة متوفرة بهذه اللغة: العربية
April 15, 2018
Muscat (WAF): Abrasive Manufacturing Company SAOG to discuss the struggling company’s options to prevent going out of business in the coming AGM/EGM, the listed company disclosed today on Muscat Securities Market.
At the previous general meeting, the shareholders failed to elect a new Board of Directors (BoD) as only one candidacy application out of the six vacant posts has been received.
In its coming meeting, the financially troubled company is discussing the appointment of the BoD. The shareholders will also consider the available alternatives to improve the company’s situation through a strategic investor. Alternatively, the company might sell or lease the some of its assets. Otherwise, the company will go into liquidation in case a money-injecting investor is not found.
The Annual and the Extraordinary General Meeting is scheduled to be held on April 29, due to the lack of a quorum of the Extraordinary General Meeting on March 31, 2018.
Translated by: Ahmed al-Ghadani
Editing: Fatma al-Arimi