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Date/ Time Company Name
Dec 31, 2017 | 02:51PMBANK DHOFAR
Company
BANK DHOFAR SAOG RIGHTS ISSUE - UPDATE


BANKDHOFAR SAOG RIGHTS ISSUE - UPDATE

 

BankDhofar is pleased to announce that the Capital Market Authority has approved the allotment for the Rights Issue on 31st December 2017. The Bank received applications for a total of OMR 44,882,736.040 against an issue size of OMR 40,000,000.

 

Refunds are currently being processed and are expected to be completed by 01st January 2018. 

 

The Lead Issue Manager, Gulf Baader Capital Markets SAOC, is carrying out the requisite steps to complete the procedures related to the uploading of the investors' list at the Muscat Clearing & Depository Company SAOC and to list the new shares on the Muscat Securities Market.

Dec 31, 2017 | 02:32PMSOHAR POWER
Company
Disclosure - Decision of CMA Appeal Committee

Further to the disclosure made by Sohar Power Company SAOG ("Company") on 29 August 2017, in relation to a decision issued by the Executive President of the CMA (Decision No. 6/2017) dated 22 August 2017 warning the Company that it is in violation of Article 5 of the Capital Market Law.   ("Decision"), the Board of Directors of the Company would like to update the shareholders that, after consulting with its legal advisor, the Company appealed the Decision before the CMA Appeal Committee. Pursuant to hearings and after deliberation, CMA Appeal Committee issued its decision on November 27, 2017 allowing the appeal in form and cancelling the Decision in substance. 

Dec 31, 2017 | 01:17PMGULF INVESTMENT SERVICES
Company
Appointment of Vice Chairman

In terms of disclosure requirements for public listed companies at the MSM, we would like to inform the investor community that at the company’s board meeting held on 28 December 2017 the following decisions made:

 

  1. Mr. Sridhar Ganesan Panchapagasan, a member of the Company’s Board of Directors, has been appointed as Vice Chairman and as a member in Nomination and Remuneration Committee.

  2. Mr. Azam Yasin Abddulaziz Al Onaizy a member of the Company’s Board of Directors has been appointed as a member in the Investment Committee.

Dec 31, 2017 | 09:53AMSALALAH MILLS
Company
Board decisions

The Board of Directors of Salalah Mills Company in their meeting held on 28TH December 2017 had decided the followings:

 

1. The approval of the merger with Salalah Macaroni (S.A.O.C) subject to the approval of EGM and the Official Authorities.

 

2.To recommend to the AGM to pay a cash dividend of 50% of the paid-up capital for the financial year ended on 31 December 2017 (50 Baiza per share).

 

3.To appoint Mr. Ali bin Talib Ali Al Rawas as Secretary of the Board of Directors with effect from 1/1/2018.

 

4.To appoint H.E. Musallam bin Ali Al Mashani  a member of the Audit Committee instead of the Executive, Nominationand Remuneration Committee,

 

5.To appoint Mr. Hasan bin Taher Ali Mukaibal a member in the Executive, Nominationand Remuneration Committee instead of the Audit Committee.


 
Chief Executive

Dec 31, 2017 | 09:17AMOMAN FLOUR MILLS
Company
Land for table egg project

Further to our news item dated Dec 21, 2016, Oman Flour Mills is pleased to announce that its subsidiary Modern Poultry Farm SAOC has now signed a Usufruct agreement with Ministry of Housing for land in Al Sunaynah, Al Buraimi Governorate for the green field table egg farm project. The estimated cost of the project is RO 15 million. We will update the progress of the project as it happens.

Dec 31, 2017 | 08:30AMNATIONAL MINERAL WATER
Company
Minutes of Ordinary General Meeting

Date 28 December 2017

National Mineral Water Company SAOG

The shareholders of National Mineral Water Company SAOG (Company) at an Ordinary General Meeting held on Thursday, 28 December 2017 at 4 p.m. at The Grand Hyatt, Muscat, Sultanate of Oman approved the sale of the Company's entire 53.5% shareholding in Horizon Technologies SAOC to SABCO LLC (Transaction) and authorised the board of directors of the Company to undertake the necessary steps to implement the Transaction

Dec 28, 2017 | 08:50PMGALFAR ENGINEERING AND CON.
Company
Appointment of New Chief Financial Officer (CFO)

The Company is pleased to announce the appointment of Mr. S. Ananthasubramanian in the post of Chief financial Officer (CFO) starting on Jan 7, 2018. Mr. Ananthasubramanian is a Chartered Accountant and Certified Lead Auditor with over 33 years of international experience in the engineering and construction sector. He previously held positions of head of finance and accounts, regional accountant and financial controller as well as director in various companies.

Dr. Hans Erlings

Chief Executive Officer

Dec 28, 2017 | 09:43AMOMAN ORIX LEASING
Company
Proposed Merger with National Finance Company SAOG

With reference to the proposed merger of Oman ORIX Leasing Company SAOG (OOLC) with National Finance Company SAOG (NFC), we would like to update you that OOLC and NFC have signed the Merger Agreement on 27th December 2017.

 We believe that this transaction will create substantial value for all the Stakeholders (Employees, Customers and Shareholders).

 Further disclosure in this regard will be made to the shareholders and concerned authorities as and when there are further developments to report.

 

Shahin Mohamamd Al Balushi

Chief Executive Officer

Dec 28, 2017 | 09:30AMNATIONAL FINANCE
Company
Proposed merger with Oman ORIX Leasing Company SAOG

With reference to the proposed merger of Oman ORIX Leasing Company SAOG (OOLC) with National Finance Co. SAOG, we would like to update you that National Finance and OOLC have signed the Merger Agreement on December 27, 2017.

 

We believe that this transaction will create substantial value for all the Stakeholders (Employees, Customers and Shareholders).

 

Further disclosure in this regard will be made to the shareholders and concerned authorities as and when there are further developments to report.

 

Best Regards,

 

Robert Pancras

Chief Executive Officer

Dec 28, 2017 | 07:50AMMAJAN COLLEGE
Company
Unaudited financials for the 1st quarter ended 30/11/2017

Reference to the above please note that the unaudited financial results for the 1st  quarter ended 30 November 2017 for the year 2017/2018 has been approved and uploaded on MSM website.

Dec 27, 2017 | 06:15PMSAHARA HOSPITALITY
Company
Un-audited Financial Results for the year ended 31 Nov 2017

Sahara Hospitality Co. SAOG announces its un-audited financial results for the 12 months ended on 30th November 2017.

 

 

12 months ended 30th  November 2017

R.O’. 000

12 months ended 30th  November 2016

R.O’. 000

Change

%

Turnover/Revenue

12,323

12,354

(0.25)

Gross Profit

4,524

4,577

(1.16)

Profit before Tax

2,834

2,826

0.28

Taxation

(337)

(336)

0.29

Net profit

2,497

2,490

0.28

 

 

The details of the unaudited financial statements along with the Directors Report have been uploaded in the Sahara Hospitality Co. SAOG page at the Muscat Securities website on 27th December 2017.

Dec 27, 2017 | 09:23AMOMINVEST
Company
Disclosure Regarding OMINVEST Subsidiary - Oman Arab Bank

DISCLOSURE REGARDING OMINVEST SUBSIDIARY – OMAN ARAB BANK

 

Oman International Development and Investment Company S.A.O.G. (“OMINVEST”) would like to disclose that the Board of Directors of Oman Arab Bank S.A.O.C. (“OAB”) on the recommendation of its CEO Amin Al Huesseini has approved the appointment of Rashad Al Musafir as acting CEO of OAB effective 01st February 2018. The appointment is aligned with OAB’s strategic transformation that started four years ago under the vision and guidance of its Board and leadership of its CEO. According to the Board of Directors of OAB, Amin Al Husseini will be managing the executive transition and succession during 2018.

Mr. Al Musafir has more than 20 years of industry experience where he has held various leadership positions and managed high-profile profitable operations. He is a Certified Public Accountant (CPA); holds a Bachelor of Arts in Economics and Finance from Boston University and completed the reputable Harvard Business School General Management Program.

Dec 27, 2017 | 09:09AMNATIONAL BISCUIT INDUSTRIES
Company
Disclosure on Appointment of temporary Director

 The Board of Directors of  National Biscuit Industries Ltd SAOG, vide  their circular resolution  No 2017/10 dated December  25th  2017, has approved the appointment of Mr. Sanjay Tiwari as a temporary Director of the Company in place of Mr. Badar Awadh Badar Al Shanfari  who has resigned from the Board membership. Mr. Sanjay Tiwari will hold office till the next Annual General Meeting in 2018.The Board of Directors also approved that Mr. Sanjay Tiwari will also become one of the company’s authorized signatory.

 Sanjay Tiwari is a Chartered Accountant with accreditations from the Institute of Chartered Accountants of India and a graduate in Commerce. He has 29 years of experience in industries ranging from Textile, Cement, Tyre & Engineering to FMCG. He has in-depth knowledge of the Middle East, South East and South Asian markets. His core expertise has been to monitor and manage operations of varied industries from financial and commercial viewpoints. He has worked in some of the leading companies in India, UAE and Oman.

Dec 27, 2017 | 08:30AMMUSCAT GASES
Company
CEO's Resignation

Dear Shareholders,

 

Muscat Gases Company SAOG announces that the Board of Directors in their meeting held on 24th December 2017 accepted the resignation of Mr. Ali Nasser Al Rasbi CEO of the company due to personal reasons, effective 31st January 2018. The Board Thanked the outgoing CEO for the work during his tenure & wished him the best on his future endeavors.

The Board instructed that till the time a new CEO is appointed that Mr.Ganti Somasekhar shall carry out his duties as Acting CEO.

 

Omar Ahmad Salim Al Qatan

Chairman

 

Dec 26, 2017 | 02:00PMASAFFA FOODS
Company
Announcement to the shareholders

A’SAFFA FOODS S.A.O.G. is pleased to announce to its honorable shareholders that it has deposited the unclaimed dividends for the year 2016 which was approved at the Annual General Meeting held on 29 March, 2017 with the Investors’ Trust Fund at the Capital Market Authority. Shareholders who have not received these dividends to date may approach Muscat Clearing & Depository (S.A.O.C.),  Muscat Clearing & Depository building, Ground Floor, behind Pizza Hut, CBD area, Ruwi,  along with their ID cards and documents supporting their claim, in order to receive their dues. Shareholders may download the copy of the prescribed claim form from the website: http://www.csdoman.co.om

For further queries on claiming these dividends please call the concerned authority at Muscat Clearing & Depository (S.A.O.C.)

Tel. 24822237 / 24822239

Dec 26, 2017 | 09:08AMAL OMANIYA FINANCIAL SER.
Company
NEW OFFICE TIMINGS

ANNOUCEMENT

 

AL OMANIYA FINANCIAL SERVICES SAOG is pleased to announce its new working hours with effect from 01st January 2018 as under

 

Sunday to Thursday

8.00 AM to 1.00 PM

1.00 PM to 2.00 PM -------- LUNCH BREAK

2.00 PM to 5.30 PM

Weekely Holidays: Friday and Saturday

 

 

This is for your kind information

AFTAB PATEL

Chief Executive Officer

Dec 26, 2017 | 08:52AMDHOFAR INSURANCE
Company
Disclosure

The Board of Directors of Dhofar Insurance Company SAOG wishes to inform that the Company had received a letter from the CMA instructing to suspend some activities of the Company effective from January 2018, unless the solvency margin deficit is resolved.

 On Monday, December 25, 2017, the Board of Directors called for an emergency meeting of the major shareholders of the Company to discuss the financial position of the Company.  The major shareholders expressed their full and immediate commitment to support the Company by injecting the necessary funds to restructure the Company’s capital and to resolve the solvency margin deficit in compliance with the CMA letter.

 The Board of Directors have accordingly instructed the Company to complete the formalities for convening the second EGM to discuss and approve the proposed financial restructuring.  The EGM is expected to be held in the second week of January 2018. 

Dec 25, 2017 | 09:30AMTAAGEER FINANCE
Company
CBO approval on the appointment of Temporary Director (Independent) in the Board

Further to the Taageer Finance disclosure on October 10th 2017, Taageer Finance Company SAOG would like to announce that CBO has approved the appointment of Mr. Mansoor Hamood Al Amri as Temporary Director (Independent) in the Board of Directors of the Company.

 

Mr. Mansoor Al Amri has 17 years of experience with the Ministry of Defence. He holds a Masters’ degree of Projects Management in Business from the University of Southern Queensland, Australia. He also holds a Bachelors’ degree in Science (Production & Operation Management) from Sultan Qaboos University.


The management and Board wishes him all success in his responsibilities.

 

Mohammed Redha A Jawad

Chief Executive Officer

Dec 25, 2017 | 09:06AMNATIONAL BISCUIT INDUSTRIES
Company
Resignation of Mr. Badar Awadh Badar Al Shanfari, Director

Mr.  Badar Awadh Badar Al Shanfari, representing Oman International Development and Investment Co. SAOG, has resigned from the Board of Directors of the company w.e.f. 20th December 2017 , as Oman International Development and Investment Co. SAOG has sold their shares to AL Anwar Holdings SAOG and the Board has regretfully accepted his resignation. 

Dec 24, 2017 | 02:26PMNAT. PHARMACEUTICAL IND.
Company
CMA approved the Right issues prospectus

The CMA approved the right issue prospectus and in compliance with all the requirements. on  24.12.2017

Dec 24, 2017 | 01:21PMOMAN NATIONAL ENGINE. INVT.
Company
Award of Tender

With great pleasure, I would like to inform our esteem shareholders and investors that Mazoon Electricity Company S.A.O.C has awarded Oman National Engineering & Investment Company (SAOG) the contract for construction of four indoor Primary Substations 33/11 KV at Barka in Batina South Governorate – (Tender 21/2017) for the sum of RO 3,836,161.615 (Three Million Eight Hundred Thirty Six Thousand One Hundred Sixty One Omani Rials and Six Hundred Fifteen Baisa) for the period of 780 days commencing on 2/1/2018.

 

Rashid Mohammed AL Ghailani

Chief Executive Officer

Dec 24, 2017 | 09:22AMNATIONAL DETERGENT
Company
Resignation of Director

Mr. Ali Taya Jandal representing Oman Investment Development and Investment Company SAOG (“OMINVEST”) has submitted his resignation dated 20th December 2017 from the Board and sub committees of The National Detergent Co. SAOG. Mr Ali Taya Jandal has resigned since OMINVEST has sold its entire shares in The National Detergent Company SAOG.

The Board of Directors has accepted his resignation and wishes to record their appreciation for the valuable contributions of Mr. Ali Taya Jandal to the Company and wish him success in his future endeavors. The Board will fill the vacant position in due course.

 

For The National Detergent Co. SAOG

 

 

 

 

 

V. Sundaresan

CEO

Date: December 24, 2017

Dec 21, 2017 | 03:16PMAL MADINA TAKAFUL
Company
End of Service

 

We would like to inform you that Mr. Mahmud Attar responsible of Internal Auditor and Compliance of the company his service been ended.

 

 The appointment of an alternative to both positions will be after the approval of the Capital Market Authority (CMA) and the Board of Director.

 

Dec 21, 2017 | 02:39PMMAJAN COLLEGE
Company
Accreditation by Oman Academic Accreditation Authority

Today the Oman Academic Accreditation Authority ( OAAA) announced that Majan College recieved its institutional accreditation.It is worth mentioning that Majan College is the first and only institution sofar to be accredited in Oman

Dec 21, 2017 | 02:04PMBANK SOHAR
Company
Appointment of Chairman and Deputy Chairman

Further to the disclosure made on the 13th of December 2017, the Board of Directors of Bank Sohar SAOG “Board” would like to announce, that it convened a meeting on Thursday, 21st December 2017, and resolved to appoint Mr. Mohammed Mahfoudh Saad Al-Ardhi as the Chairman of the Board and Mr. Abdullah Salim Al Harthy as the Deputy Chairman.

Dec 21, 2017 | 08:46AMDHOFAR FISHERIES AND FOOD IND.
Company
AGENDA FOR THE EXTRAORDINARY GENERAL MEETING OF DHOFAR FISHERIES AND FOOD INDUSTRIES COMPANY SAOG

The Board of Directors of Dhofar Fisheries and Food Industries Company SAOG has the honor to invite all shareholders to attend the Extraordinary General Meeting of the Company in accordance with Article (116) of the Commercial Companies Law issued by Royal Decree No. 4/74,as amended. The Extraordinary General Meeting shall take place at 3:00 PM on Sunday 31 December 2017 at the Company's headquarters in Raysut Industrial Zone in Salalah, Dhofar Governorate. It shall discuss the following agenda items:

1-Approve the renewal of the authorized Company's capital of eight million (8,000,000) Omani Rials in compliance with the requirements of Article 82 of the Commercial Companies Law No. 4/74,as amended and amend Article (5) of the Company's Articles of Association accordingly.

2-Subject to the approval of the regulators, review and approve the proposal to restructure the Company's current issued and paid-up capital as follows:

A-Approve the increase in the issued and paid-up capital from two million five hundred and forty thousand (2,540,000) Omani Rials to five million six hundred and fifty-two thousand seven hundred and ninety three (5,652,793) Omani Riyals by transferring the advance capital payment from a related party through private placement .

B-Approve the reduction of the issued and paid-up capital from five million six hundred and fifty-two thousand seven hundred and ninety three (5,652,793) Omani Riyals to two million (2,000,000) Omani Riyals to write off part of the accumulated losses and amend the Company's Articles of Association accordingly.

3-Authorizing the Board of Directors to complete their structuring procedures with the competent authorities.

 

Dec 21, 2017 | 08:24AMNATIONAL GAS
Company
Reconstituting the Board Committees

The Board members of National Gas Company have resolved in its meeting held on 20 December 2017 to re-constitute the Executive Committee, Audit Committee and Nomination & Remuneration Committee as per below:

Audit Committee :

Sayyid Nabil Hilal Al Busaidi

Chairman

Mr. Rashad Khamis Hamad Al Battashi

Member

Mr. Hisham Mohammed Al Alawi

Member

 

Executive Committee :

Sh. Abdulla Suleiman Al Harthy

Chairman

Mr. Khalid Said Salem Al Wahaibi

Member

Mr. Hamdan Abdul Hafidh Al Farsi

Member

 

Nomination & Remuneration Committee :

Mr. Khalid Said Salem Al Wahaibi

Chairman

Sh. Abdulla Suleiman Al Harthy

Member

Mr. Hamdan Abdul Hafidh Al Farsi

Member

 

Dec 20, 2017 | 07:11PMOMAN EDU. & TRIN. INV.
Company
Un-audited Financial Statement as 30-11-2017

Oman Education and Training Investment Company S.O.A.G is pleased to announce for the shareholders that, the Board of Directors has approved on 20 Dec 2017 the un-audited financial statement of the Company (First Quarter) as 30-11-2017, and the same has been uploaded on the company website at Muscat Securities Market site.

Dec 20, 2017 | 02:15PMOMAN AND EMIRATES INV. HOLDING
Company
BOARD MEETING No.1-2018

We would like to inform you that the Board of Directors of Oman & Emirates Investment Holding Company SAOG will hold its meeting No. 1/2018 on Thursday 11th January  2018 at 12:00 PM. in Muscat to discuss and approve company’s budget for the year 2018 . We shall provide you with the major resolutions that may be taken by the Board.

 

Kind regards

 

 

 

 

 

Sultan Salem Al Debei

Secretary of the Board  

Dec 20, 2017 | 08:46AMVISION INSURANCE
Company
Resolutions of Vision Insurance Board Meeting held on December 18, 2017
The Board of Directors' meeting was held on 18 December 2017 at the Company's Head Office and the following matters were discussed and resolved. 

Reconstitution of Remuneration and Nomination Committee

The Members unanimously passed the following resolution approving the reconstitution of the Remuneration and Nomination Committee as stated below:

 

Mr. Ali Mohammed Juma                -  Chairman

Mr. Deepak Atal                               -  Member

Mr. Khalifa Saif Darwish Al Ketbi  -  Member

 

Reconstitution of Investment Committee

The Members unanimously passed the following resolution approving the reconstitution of the Investment Committee as stated below:

Mr. Khalifa Saif Darwish Al Ketbi

Mr. Vikas Dixit

Mr. Deepak Atal 

In the next Investment Committee Meeting, the Committee will select the Chairman among themselves. 

 

 

 

 

Dec 20, 2017 | 08:43AMOMAN CEMENT
Company
Appointment of CEO

We would like to inform that Oman Cement Company (SAOG) has appointed Engg. Salem Al Hajri as the new Chief Executive Officer of the company, effective December 2017.

 

Mr. Salem worked for more than three decades in various industries including oil and gas sector, waste water management field and distinguish long experience in cement industry.

 

Dr. Abdullah Abbass Ahmed

Chairman of the Board of Directors

Dec 20, 2017 | 08:26AMOMAN CEMENT
Company
Appointment of new board member

Further to our previous announcement dated 10.12.2017 informing about appointment of 3 new board members representing the Oman Investment Fund (OIF), we have been informed by OIF that one new board member to be appointed, so that 4 members will represent the OIF. 

 

With the nomination of the new member on the board, the composition of the new board of director will be as follows:

 

Representing

Capacity

Name of member

Oman Investment Fund

Chairman

Dr. Abdullah Abbas Ahmed

Independent

Vice Chairman

Mr. Kumail Majid Al Mosawi

Oman Investment Fund

Member

Mr. Hussain Mohamed Ridha Ali

Oman Investment Fund

Member

Mr. Saleem Ismail Hanafi

Oman Investment Fund

Member

Mr. Talal Issa Al Harasi

Independent

Member

Mrs. Najat Ali Al Lawati

Independent

Member

Mr. Ismail Khamis AL Harasi

 

 Regards

 

Salim Abdullah Al Hajri

Chief Executive Officer

Dec 19, 2017 | 08:56AMTAAGEER FINANCE
Company
Decisions of the Extra Ordinary General Meeting

We are pleased to inform you that the Extra Ordinary General Meeting of Taageer Finance Co. SAOG (Company) was held on Monday, December 18, 2017 at Intercontinental Hotel, Muscat, Sultanate of Oman and the Shareholders’ have unanimously approved the following agenda items:

  

  1. The issue of 5,000,000 (Five Million) Unsecured, Subordinated, Non-Convertible Bonds for RO 5,000,000 million (Rial Omani Five Million only) with a Green-Shoe option of  2,500,000 (Two Million Five Hundred Thousand) RO 2.5 Million (Rial Omani Two Million Five Hundred Thousand only) Additional Bonds (the “Bonds”), by way of private placement.

     

  2. Authorizing the Board of Directors to take all the necessary actions to conclude the Bonds issuance.

      

  3. Amending Article (4) of the Articles of Association of the Company for adding an activity issuance of credit cards and other activities auxiliary to financial intermediation.

     

Best Regards,

 

Mohammed Redha Ahmed Jawad

Chief Executive Officer

Dec 18, 2017 | 05:36PMNATIONAL FINANCE
Company
Proposed merger with Oman ORIX Leasing Company SAOG

Further to our disclosure dated August 14, 2017, we wish to inform you that we have received the final approval for the merger from the Central Bank of Oman subject to approval from the regulatory authorities.

 

Best Regards,

 

Robert Pancras

Chief Executive Officer

Dec 18, 2017 | 05:07PMOMAN ORIX LEASING
Company
Proposed merger with National Finance Company SAOG

Further to our disclosure dated August 13, 2017, we wish to inform you that we have received final approval from the Central Bank of Oman subject to approvals from the regulatory authorities.

 Best Regards,

 Shahin Mohamamd Al Balushi

Chief Executive Officer

Dec 18, 2017 | 08:54AMACWA POWER BARKA
Company
Meeting of Board of Directors of ACWA Power Barka SAOG – Important Decisions

A meeting of Board of Directors of ACWA Power Barka SAOG (the Company) was held on 17 December 2017. The Board unanimously made the following decision:

  1. The Board reviewed and approved the audited financials of the Company for the period 01 January – 31 October 2017 with revenues of RO 60.693 Million as compared to RO 55.575 Million for the same period in 2016. The net profit for the period January 01 to 31 October 2017 was RO 7.399 Million as compared to RO 8.833 Million for the same period in 2016.

 

  1. The Board approved the distribution of 22% cash dividend amounting to RO 3,520,000 (Rial Omani Three Million Five Hundred Twenty Thousand Only) based on the retained earnings as per audited financial statements as at 31 October 2017, and authorized Mr. Ahmed Al Subhi and/or Mr. Usman Anwar to sign necessary documents and statements for payment of dividends. The record date for distribution of dividend is 27 December 2017.

 

  1. Mr. Sankara resigned as director of ACWA Power Barka SAOG due to his personal reasons. The Board accepted his resignation and his seat in the Board has become vacant. The Board of Directors of the Company acknowledges the significant contributions of Mr. Sankara during his term on the Board and wishes him all the best in his endeavors.

 

  1. The Board accepted resignation of Mr. Ali Asghar Vasnani and appointed Mr. Muhammad Bilal Akhtar Khan as the Company Secretary for the Board and its committees. Further Mr. Muhammad Bilal Akhtar Khan will be the Disclosure officer of the Company.

 

 

 

Dec 18, 2017 | 08:35AMMUSCAT GASES
Company
Announcement to the Shareholders

Muscat Gases Co.SAOG would like to announce to the Shareholders of the Company that the unclaimed dividends for the year 2016 as approved at the Annual General Meeting held on 16th March 2017 have been transferred to Investors Trust Fund –Capital Market Authority.

Shareholders who have not so far claimed their dividends, are requested to refer to Muscat Clearing&Depository SAOC office situated opposite Oman Development Bank in MBD area-Ruwi. Shareholders are requested to carry with them their identification documents inorder to update their personal details and collect their unclaimed dividends. A copy of the standard form for collecting unclaimed funds may be obtained by assessing the following website:

 https://www.csdoman.co.om

For more information about the procedure for collecting unclaimed dividends the Shareholders may contact the following address:

 

Muscat Clearing & Depository. SAOC

 

Tel: 24822232 - 24822282

Dec 17, 2017 | 01:54PMNATIONAL SECURITIES
Company
Proposal for Re-Structuring the Company

The Board of Director would like to disclose to the shareholders about looking at various options for restructuring the company.

Discussion and negotiations are currently under way with different parties as well as obtaining the advice and approval from CMA.

In the event of reaching agreement and obtain the necessary approvals will be disclosed at the time.

Dec 17, 2017 | 10:11AMGULF STONES
Company
Disclosure of of Gulf Stone company ( SAOG ) resolutions - reference

With reference to disclosure of Gulf Stone Company SAOG on 17/12/2017 on the meeting hold on Saturday 16/12/2017 . We add the following decisions: 

1- Restructuring of the Audit Committee as flowing:

-Mr. Ahmed Mohammed AlRasbi    Chairman

-Mr.   Hussam Hisham AL-Bostami   Member

-Mr. Areej Mohammed Alkulaib    Member

 

2- Restructuring of the Executive Committee as flowing:

-          Tareq Sulaiman Al Houqani  Chariman.

-          Mr.   Hussam Hisham AL-Bostami   Member

-          Shamas Khalid ALReesi    Member

 

    
And yours sincerely


Mohammed Juma Al Balushi
Secretary Board of Directors

 

Dec 17, 2017 | 08:16AMGULF STONES
Company
Board of Director of Gulf Stone company ( SAOG ) resolutions

 

 

The Board Directors of Gulf Stone Company SAOG meet on Saturday 16/12/2017 and the important decisions as the following:

1. The Board Directors approved the company's budget for the year 2018.


2. The Board Directors accept the letter from Bitumat company Limited to change the membership of Board Directors of Mr.Thamer Al Sallh, representative M/s. Bitumat company Limited from the 16/12/2017.


3. The Board Directors Accept appoints of Ms. /Areej Mohammed Alkulaib  a representative of the Bitumat Company Limied  as the board member and the Audit Committee from 16/12/2017.


4. The Board directors Accept appoints Mr. Ahmed Mohammed AlRasbi as Deputy Chairman of the Board Directors.

And yours sincerely


Mohammed Juma Al Balushi
Secretary Board of Directors

Dec 14, 2017 | 05:41PMMAJAN COLLEGE
Company
Preliminary unaudited financial results for first quarter ended 30/11/2017
  (1)  SEP 17 - NOV 17  OMR (2)  SEP 16 - NOV 16  OMR (1-2) Trend variance /التغير %
         
Total Income 1,899,974 1,853,794 46,180 2
         
Total expenses -1,307,246 -1,276,226 -31,020 2
         
Net profit before tax 592,728 577,568 15,160 3
         
Taxation -91,034 -78,977 -12,057 15
         
Total comprehensive income  501,694 498,591 3,103 1
         
Basic earning per share 0.017 0.017 0 1
(1) Figures are initial, unaudited and subject to approval by Board of Directors.        
 (2) Figures  are final,audited and approved by Board of Directors.        
Dec 14, 2017 | 04:57PMNATIONAL FINANCE
Company
Decisions of the Extra Ordinary General Meeting

We are pleased to inform you that the Extra Ordinary General Meeting of National Finance Co. SAOG (Company) was held at the office of National Finance, Al Khuwair on Thursday, December 14, 2017 and the Shareholders’ have unanimously approved the following agenda items:

 

1-      merger by incorporation of Oman Orix Leasing Co. SAOG (OOLC) into the Company in accordance with the provisions of the Commercial Companies Law.

 

2-      consideration for the merger as follows:

  1. a.       authorized the Board of Directors to issue additional shares of the company within the limit of the authorized share capital  of the company to the shareholders of OOLC merging with National Finance, at a swap ratio which will be based on the book value per share of OOLC to the book value per share of National Finance in accordance with the audited financial statements as on 31st December 2017; or  

 

  1. b.      payment of cash consideration to the shareholders of OOLC opting for cash equating to a price of 1.20x the ending book value of OOLC, as at 31st December 2017.

 

3-      authorized the Board of Directors to do all such acts and take decisions which may, in the Board’s sole discretion be deemed necessary to complete the Merger, including but not limited to sign all documents, file and register any documents with any relevant authorities

 

4-      increase in the authorized share capital of the Company from RO 30,000,000 to RO 75,000,000 and consequently approved the amendment to the Articles of Association.

 

5-      increase in the issued share capital of the Company from RO 27,925,912 to RO 49,685,912 by issuing, on a rights issue basis, 217,600,000 new shares to the shareholders of the Company at a price of 127 baiza per share (including nominal value of 100 baiza, a share premium of 25 baiza and 2 baiza to cover the issue expenses), subject to regulatory approval and authorized the Board of Directors to undertake all actions necessary to conclude this transaction including the appointment of the relevant advisors for the transaction.

 

6-      issuance of perpetual bonds for RO 18,200,000 million through private placement, subject to regulatory approval and authorized the Board of Directors to undertake all actions necessary to conclude the transaction including approving the interest rate, the number of investors, amount to be allocated to each investor and appointment of relevant advisors for the transaction.

 

7-      increase the number of Board of Directors of the Company from 7 to 9 members and consequently approved the amendment to the Articles of Association.

 

 

Best Regards,

 

Robert Pancras

Chief Executive Officer

Dec 14, 2017 | 04:56PMOMAN QATAR INSURANCE
Company
Decisions of the Board of Director Meeting

We are pleased to inform you that the Board of Director Meeting of Oman Qatar Insurance Company SAOG (Company) was held at the OQIC Head Office, Ruwi, Sultanate of Oman on Thursday, December 14, 2017 and the Director’ have approved the following:

To appoint the Chairman & Deputy Chairman:

i.  KHALAF AHMED SH. A. AL-MANNAI – Chairman

  ii. MUSALLAM MAHAD ALI QATAN – Deputy Chairman

To appoint the Audit Committee Members:

 i. TARIQ MARZOOQ S A AL-SHAMLAN – Chairman

 ii. SAID MOBARAK S AL-MOHANNADI – Member

iii. OMER ABDULAZIZ H A AL-MARWANI – Member

 To appoint the Investment Committee Members:

i. MUSALLAM MAHAD ALI QATAN – Member

ii. SALEM KHALAF A A AL-MANNAI – Member

iii. OMER ABDULAZIZ H A AL-MARWANI – Member

To appoint the Nomination and Remuneration Committee Members:

i. MUSALLAM MAHAD ALI QATAN – Member

ii. ALI SALEH N ALFADALA - Member

iii. SALEM KHALAF A A AL-MANNAI – Member

iv. SAID MOBARAK S AL-MOHANNADI – Member 

Best Regards,

 Navin Kumar

Chief Executive Officer

Dec 14, 2017 | 02:06PMOMAN AND EMIRATES INV. HOLDING
Company
Investment in BION Holding, Dubai

This is to inform that Oman & Emirates Investment Holding Co SAOG has invested USD 3 Million (RO 1.2 Million) in BION Investments Limited towards funding BION HOLDING,  Dubai, a leading cargo transport and heavy transport equipment manufacturing company.  This is in line with our strategy to invest in Logistics and Infrastructure Sector. 

 

With regards,

 

 

 

 

Awad Mohammed Faraj Bamkhalef

Chief Executive Officer

Dec 14, 2017 | 09:32AMDHOFAR INT.DEV.AND INV. HOLD.
Company
Award of contract - Salalah Independent Water Project in Dhofar Governorate with a capacity of 25 million gallons per day

Award of contract - Salalah Independent Water Project in Dhofar Governorate with a capacity of 25 million gallons per day

We are pleased to announce that a consortium comprising International Company for Water and Power Projects (ACWA Power), Veolia and Dhofar International Development & Investment Holding Co. SAOG (DIDIC) has been awarded Salalah Independent Water Project in Dhofar Governorate with a capacity of 25 million gallons per day of desalinated water using reverse osmosis technology.

The project will be owned and operated under Build - Own- Operate framework of 20 years Water Purchase Agreement with Oman Power and Water Procurement Company (OPWP).

This investment is part of our new strategic diversified investment plan and the management anticipates that this strategic investment will be of substantial benefit to DIDIC.

Any further new information on the project will be disclosed.

Dec 13, 2017 | 06:23PMSAHARA HOSPITALITY
Company
Initial Results for the year ended 30 November 2017
SAHARA HOSPITALITY CO. (SAOG)    
INITIAL RESULTS YEAR ENDED 30 NOVEMBER, 2017    
(NOT APPROVED BY THE BOARD OF DIRECTORS)    
         
  Particulars  Year ended  Year ended Change
    30,November, 2017 30,November, 2016  
    (R O) (R O) %
1 TOTAL REVENUE                  12,323,455                    12,353,855            (0.25)
2 TOTAL EXPENSES                  (9,484,580)                    (9,524,628)            (0.42)
3 OTHER INCOME                                   -                                4,550              (100)
4 NET INCOME BEFORE TAX                    2,838,875                      2,833,777               0.18
5 TAXATION                     (426,136)                       (336,578)            26.61
6 NET INCOME AFTER TAX                    2,412,739                      2,497,199            (3.38)
Dec 13, 2017 | 05:25PMNATIONAL MINERAL WATER
Company
Invitation to Attend the Ordinary General Meeting (OGM)

Invitation to Attend the Ordinary General Meeting (OGM)

 

The Board of Directors (Board) of National Mineral Water Company SAOG (Company) has the pleasure to invite all of the Shareholders to attend an Ordinary General Meeting (OGM) in accordance with Article 116 of the Commercial Companies Law (SD 4/74) as amended (the Commercial Companies Law), scheduled to be held on Thursday the 28 December 2017 at 4 p.m. at The Grand Hyatt, Muscat, Sultanate of Oman, to discuss and approve the following agenda:

  1. To consider and approve the Sale of the Company's entire 53.5% shareholding in Horizon Technologies SAOC to related party, SABCO LLC  (Transaction), and to authorize the Board, management of the Company or anyone duly authorized by the Board to undertake any and all required or desirable steps to implement the Transaction (including, but not limited to the negotiation and execution of documents) and do all that is required to give effect to the Transaction, and to agree any amendments to the structure and terms and conditions of the Transaction and the Transaction documents, however fundamental, on behalf of the Company.

As per the Company's Articles of Association any Shareholder may appoint any person, in writing, as his proxy to attend and vote on his behalf, provided that the authorisation should be made on the proxy card attached to the notice. Any natural person should attach to the proxy card a copy of his ID card or passport. For juristic persons, the proxy should be signed by authorized signatories as per the signatories form duly approved by the Capital Market Authority and stamped by the company's seal, along with copy of the commercial registration certificate of the juristic person. 

Shareholders are requested to be present at least half an hour before the time of the meeting. If you have any questions, please call Mr. Yaqdhan Al Busaidi on 24573073.

 

 

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Chairman

Auditors

Legal Advisor

Dec 13, 2017 | 04:37PMOMAN ORIX LEASING
Company
Resolutions of the Extraordinary General Meeting (EGM) of Oman ORIX Leasing Company SAOG.

Oman ORIX Leasing Company SAOG (“ORIX”) successfully held its Extraordinary General Meeting (“EGM”) with a quorum representing (93.095%) shareholders, on Wednesday the 13th December 2017 at 3 pm, at the Sur Ballroom, Hotel Muscat Holiday, Sultanate of Oman. The shareholders resolved and approved the following:

  1. The dissolution of the Company (Incorporated Company) and its merger by incorporation into National Finance Company SAOG (Incorporating Company) pursuant to Article 13(4)(1) of the Commercial Companies Law (Merger) and authorised the Board of Directors of the Company to complete all formalities with the concerned authorities in connection with the Merger
  2. The Merger consideration for shareholders of the Incorporated Company who opt to receive shares in the Incorporating Company shall be based on the book value per share of the Incorporated Company to the book value per share of the Incorporating Company in accordance with each company's audited financial statements as at 31 December 2017.
  3. The cash consideration for shareholders of the Incorporated Company who opt for the cash offer shall equate to 1.2 multiplied by the book value per share as at 31 December 2017.
  4. Authorised the Board of Directors to take all necessary steps and appropriate decisions to complete the Merger, including but not limited to signing all documents, filing and registering any document with the relevant authorities
 
 

 

Shahin Mohammad Al Balushi

Chief Executive Officer

Dec 13, 2017 | 04:14PMOMAN QATAR INSURANCE
Company
Decisions of the Ordinary General Meeting

We are pleased to inform you that the Ordinary General Meeting of Oman Qatar Insurance Company SAOG (Company) was held at the Business Hall of the Capital Market Authority, Ruwi, Sultanate of Oman on Wednesday, December 13, 2017 and the Shareholders’ have approved the following:

To appoint the following members as directors on the Board of the of the Company:

i.  KHALAF AHMED SH. A. AL-MANNAI

ii. OMER ABDULAZIZ H A AL-MARWANI

iii.  MUSALLAM MAHAD ALI QATAN

iv. TARIQ MARZOOQ S A AL-SHAMLAN

v. SAID MOBARAK S AL-MOHANNADI

vi. SALEM KHALAF A A AL-MANNAI

 vii. ALI SALEH N ALFADALA

Best Regards,

Navin Kumar

Chief Executive Officer

Dec 13, 2017 | 03:04PMOMAN EDU. & TRIN. INV.
Company
Initial Financial Results for the period ended 30 November 2017

Oman Education and Training Investment Co SAOG- Initial Financial Results for the period from 1st September 2017 till 30 November 2017.According to the disclosure requirements of Capital Market Authority, we are pleased to announce the Initial un-audited Financial Results for company for the period ended 30 November 2017.

 

Group

Group

30/11/2017

30/11/2016

Total Income

3902498

3751285

Total Expenses

(3183585)

(3282298)

Net profit Before tax

718913

468987

Net Profit after tax

596513

408987

 

 

 

Note: We wish to reassert that this disclosure represent initial un-audited results and are subject to approval / confirmation / concurrence by the Audit Committee as well as the Board of Directors. Also the result is subject to change.

Dec 13, 2017 | 02:18PMBANK SOHAR
Company
Resignation of Directors and Appointment of Replacements

Further to our disclosure dated 26 October 2017, the Board of Directors of Bank Sohar SAOG “Board” announces that each of the following three directors, have submitted their respective resignations from the Board:

  1. Sheikh Hassan Ahmed Al Nabhani;
  2. Sheikh Ghazi Nasser Salim Al Alawi; and
  3. Omer Ahmed Abullah Al Shaikh.

The Board had accepted the resignations and would like to express its deep appreciation for the efforts exerted by the directors mentioned above during their tenure with the Board and for their valuable contribution to the success of the Bank.

 

The Board had also considered nominations, for filling the vacant seats on the Board and after careful consideration decided to appoint the below-mentioned persons as as directors as of  the date of this disclosure directors, to replace the above-mentioned directors:

  1. Mr. Mohammed Mahfoudh Saad Al Ardhi ;
  2. Mr. Abdullah Salim Abdullah Al Harthy; and
  3. Mr. Tareq Mohamed Sultan Al Mugheiry.

The appointment of the new directors is subject to the regulatory approvals. The Board wishes the new directors every success in their journey with the Bank.

 

Dec 13, 2017 | 09:48AMOMAN NATIONAL ENGINE. INVT.
Company
Award of Tender

With great pleasure, I would like to inform our esteem shareholders and investors that The Ministry of Health has awarded Oman National Engineering & Investment Company (SAOG) the contract for provision of maintenance technicians  for the operation and maintenance of equipment and services at the Nizwa Hospital and its affiliated Health Centers Units in Dakhliya Governorate (Tender 108/2015) for the sum of RO 3,782,686 (Three Million Seven Hundred Eighty Two Thousand and Six Hundred Eighty Six Omani Rials) for the period of Five years commencing on 1/7/2018

 

Rashid Mohammed AL Ghailani

CEO

Dec 12, 2017 | 01:09PMAL HASSAN ENGINEERING
Company
Invitation to Discussion Session

The Board of Directors is pleased to inform the shareholders that the company received an invitation from CMA to hold a discussion session to highlight the future plans of the company. The company invites AHEC shareholders to attend the discussion, this will be held on Monday, December 18, 2017 at 1.30pm at the Businessmen’s auditorium, CMA’s premises.

Dec 11, 2017 | 04:19PMGALFAR ENGINEERING AND CON.
Company
Petrofac awards US$ 15 million Sub-contract to Galfar for EPC Buildings Works in Salalah LPG Project

We are pleased to inform our esteemed shareholders and investors that Galfar has been awarded a subcontract for  an “EPC Building Works Package” for the Salalah LPG Project of Salalah SFZCO LPG LLC” by Petrofac E&C Oman for approximately  US $ 15 Million  (US Dollar Fifteen Million). The completion period of the works of the subcontract is 17 Months.  This is an important contract to Galfar and further serves to underpin our revenue streams.

 

Dr. Hans Erlings

                                             Chief Executive Officer

 

Dec 11, 2017 | 08:51AMDHOFAR INSURANCE
Company
Disclosure of the Extraordinary General Meeting

Dhofar Insurance Company SAOG hereby announces that the Extraordinary General Meeting of the Company held Sunday, December 10th, 2017 at 3:00 PM at Crowne Plaza Hotel in Muscat  did not take place due to the lack of a quorum, pursuant to the provisions of Article (124) of the Companies Law.

The second Extraordinary General Meeting will be announced in due course in line with the regulations.

Dec 10, 2017 | 07:04PMGULF HOTELS (OMAN)
Company
Resolutions of the Extra Ordinary General Meeting of Gulf Hotels (Oman)

 The Extra Ordinary General meeting of Gulf Hotels (Oman) Company Limited SAOG was held on Sunday, 10th December 2017 at 3.00 p.m in Al Maha Hall of Crowne Plaza Hotel, Al Qurum, Muscat.

For your information we now provide a summary of the events and decisions taken at the meeting:

 1.      The amendments to some provisions of the company’s Articles of Association was approved.

 

 

Dec 10, 2017 | 03:41PMOMAN CHLORINE
Company
panel discussion in CMA

Dear Shareholders

 

The Board of Directors is pleased to inform the shareholders that the company received an invitation from CMA to hold a panel discussion on the economic events that affected the company as well as the operational factors related to the company and to highlight the plans and objectives of future management.

The company invites the shareholders to attend the panel discussion, which will be held on Monday, December 11, 2017 at 1 pm at the investors' hall at the Capital Market Authority.

Dec 10, 2017 | 03:20PMMUSCAT FINANCE
Company
CBO Approval of a new Chief Executive Officer

 

Further to the announcement made on27th March 2017 regarding the last working day of Mr. Bikramjit Rishi, the ex-CEO of Muscat Finance, following receipt of Central Bank Of Oman approval, the Board is pleased to announce the appointment of Mr. Maneesh Srivastava as the CEO of Muscat Finance SAOG.

 

 

Maneesh is expected to join shortly and a further announcement will be made upon him joining office.

Dec 10, 2017 | 10:06AMOMAN CEMENT
Company
Appointments of new Board Members

Further to our previous announcement dated 7.12.2016 informing the transfer of the equity shares of the company, owned by the Government of Oman to the Oman Investment Fund, we have been informed by the Oman Investment Fund that it has been decided to appoint new members representing the Oman Investment Fund , effective from 10th December 2017.

With the nomination of the new members on the board, the composition of the new board of director will be as follows:

Representing

Capacity

Name of member

Oman Investment Fund

Chairman

Dr. Abdullah Abbas Ahmed

Independent

Vice Chairman

Mr. Kumail Majid Al Mosawi

Oman Investment Fund

Member

Mr. Hussain Mohamed Ridha Ali

Oman Investment Fund

Member

Mr. Saleem Ismail Hanafi

Independent

Member

Mrs. Najat Ali Al Lawati

Independent

Member

Mr. Ismail Khamis AL Harasi

 Name of one more member will be communicated by the Oman Investment fund in the due course.

 

Regards

 

 Salim Abdullah Al Hajri

Acting Chief Executive Officer

Dec 10, 2017 | 09:15AMOMAN AND EMIRATES INV. HOLDING
Company
APPOINTMENT OF NEW DIRECTOR

We would like to inform you that Oman Investment Fund has appointed Mr. Anwar Hilal Hamdoun Al Jabri as member of the Board of Director to replace Mr. Mubarak Mohammed Mubarak Al Dohani with effect from 7th December 2017 .

 

 

Regards

 

 

 

Awad Mohammed Bamkhalef

Chief Executive Officer 

Dec 06, 2017 | 02:40PMBANK NIZWA
Company
Resignation of GM Corporate Support

Dr. Ashraf bin Nabhan Al Nabhani has decided to resign from his position as General Manager Corporate Support due to personal reasons. The resignation will be effective from December 6th, 2017. The Board and the Management would like to thank him for his contribution over the years and wish him success in his future.