COVID-19 threat: CMA suspends general meetings

The Capital Market Authority has issued circular suspending the general meetings of public joint stock companies and investment funds until further notice. The measure is in line with the directive of the Supreme Committee tasked with managing the spread of the novel coronavirus (COVID-19), to suspend all gatherings, events and conferences in the Sultanate. Under Article 172 of the Commercial Companies Law, public joint stock companies and investment funds are required to convene their AGMs and other general meetings within 90 days from the end of the financial year — a provision that now stands suspended.