Oman's CMA Extends Deadline for Convening of AGMs

The Capital Market Authority (CMA) has extended the deadline for public joint stock companies to hold their Annual General Meetings (AGM) to April 30, 2020, instead of March-end in light of national measures to prevent the spread of the novel coronavirus (Covid-19).

The regulator announced in a circular issued on Tuesday that listed companies desirous of postponing their AGMs may notify their shareholders via an announcement on the website of the Muscat Securities Market.

The circular also outlined measures that companies must adhere to when convening AGMs. Key measures are as follows: Attendance shall be restricted to shareholders and stakeholders only; a register of the attendees should be maintained; the proceedings should be brief and any questions should be limited to the topics on the agenda. Standard safety and hygiene procedures, such as the provision of sanitizers and avoidance of handshaking, have been stipulated as well.