Publicly listed Dhofar Tourism Company, which owns a luxury resort at Mirbat in Dhofar Governorate, announced on Monday that it has reversed an earlier board decision to convert the business into a closed joint stock company.
The company said in a disclosure filing to the Muscat Stock Exchange (MSX) that its Board of Directors, meeting on January 30, 2023, had decided to “abandon the conversion of the company from a public shareholding company to a closed joint stock company for the time being”.
At an earlier meeting on January 16, 2023, the Board had adopted a decision to transform the company from a public shareholding company into a closed joint stock company, and to immediately start the procedures related to its conversion, including calling for an extraordinary meeting of the General Assembly and completing the rest of the procedures.
“This decision came after the main shareholders of the company decided to subject the matter to more time to study and make the appropriate decision,” Dhofar Tourism said yesterday.
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