After Compliments,

Reference is made to Oman Capital Market Authority Circular No. 3/2020 dated March 18, 2020 on suspension of convening General Meetings of public joint stock companies and investment funds until further notice based on the instructions of the Supreme Committee tasked with dealing with the developments resulting from the outbreak of novel Coronavirus (COVID-19) that restricted all gatherings, events and conferences in the Sultanate. We are delighted to inform you that the CMA has formulated the legislative procedures framework for convening such General Meetings via electronic means in the Sultanate. Hence, the CMA has issued the Rules for Convening General Meetings of Public Joint Stock Companies and Investment Funds via Electronic Means via Oman Capital Market Authority Decision No. E/25/2020.

To implement CMA mandate as above Muscat Clearing and Depository Company (MCDC) has developed, in collaboration with Oman Telecommunication Company SAOG (Omantel), Blockchain Solutions, and Services (BSS), a secure locally developed electronic platform to facilitate the process of convening and administering General Meetings.