Code of Corporate Governance for Public Listed Companies
Objective of this Code
This Code aims to provide a binding and optimum framework for corporate governance in public stock companies vis-à-vis their direction, organization and supervision, through a series of specific and defined policies, processes and procedures.
Scope of Application of the Code:
The provisions of this Code shall apply to all public joint stock companies (the “company”, “corporate”, “companies” or “corporates”) listed on the Muscat Securities Market.
Annexures
Annexure No. 1 - Minimum information that must be provided to the board
1. Estimated capital and operating budget and any updates.
2. Quarterly results of the company.
3. Minutes of the board committees.
4. Information on recruitment, resignation, removal and remuneration of key personnel.
5. Material notices of penalties, fines and causes.
6. Serious accidents, dangerous incidences and pollution related problems.
7. Material default in financial obligations to or by the company.
8. Matters pertaining to possible public suits or product liability claims of substantial nature.
9. Joint venture agreements.
10.Transactions involving substantial payment towards intellectual property, goodwill and royalties .
11.Problems arising from industrial and commercial relations, including new wage agreement.
12.Sale of investment and assets which are not in the normal course of the company's business.