Author: admin
This item was issued by the Muscat Stock Exchange in English and was not translated by Decree.
Pursuant to:
Royal Decree 18/2019 Promulgating the Commercial Companies Law,
Royal Decree 46/2022 Promulgating the Securities Law,
The Articles of Association of Muscat Stock Exchange SAOC,
The Resolution passed by the EGM in the meeting held on 18 March 2025 to transform the legal status of the Company from a Closed Joint Stock Co, to a Limited Liability Co, at a share capital of OMR 1,500,000 divided into 1,500,000 shares,
And according to:
The recommendation of Market Operations Department,
It has been decided:
Article 1
The company shall be delisted from the Third Market.
Article 2
This decision shall be effective as from Tuesday 17 June 2025.
Haitham Salim Al Salmi
Chief Executive Officer
Issued: 21 Dhul-Hijjah, 1446H
Corresponding to: 17 June 2025
Arabic
The Ministry of Labor, with reference to the statement issued on 5 May 2025, affirms the following:
1. Establishments employing more than workers are required to submit an employment plan to recruit at least one Omani within a period of three months.
2. The decision may be implemented through either direct employment or by submitting an employment plan that leads to actual recruitment.
3. The establishment shall be notified via the electronic system of the requirement to employ.
4. In case of non-compliance following notification, the system shall automatically apply a ban on the issuance of new licenses, which will be reflected directly on the system’s interface.
15 June 2025
In line with the implementation of labor market regulation decisions, and with reference to the statement issued on 5 May 2025, the Ministry of Labor affirms the following:
1. Establishments owned by entrepreneurs and full-time business owners shall be granted a grace period of one year from the date of issuance of the notification decision to rectify their status and fulfill the Omanization requirement.
2. All establishments shall undergo a case review within six months from the date of notification to assess the establishment’s contribution to local value addition.
3. Business owners who do not hold a “Riyada Card” may apply for registration with the Small and Medium Enterprises Development Authority to obtain the card and benefit from the associated facilities and exemptions.
15 June 2025
In line with the implementation of labor market regulation decisions, and pursuant to the statement issued by the Ministry of Labor on 5 May 2025, the Ministry affirms the following:
1. Foreign investment establishments whose commercial registration has completed one year of operation are required to submit an employment plan to recruit at least one Omani within a period of three months.
2. Employment may be fulfilled either through direct recruitment or by submitting a clear employment plan that leads to actual appointment.
3. A comprehensive ban shall be imposed on all non-compliant foreign investment establishments, regardless of the number of workers registered therein.
4. Establishments shall be granted a grace period not exceeding three months from the date of notification to rectify their status in accordance with the decision.
5. This mechanism has been established in coordination with the Ministry of Commerce, Industry and Investment Promotion with respect to the regulation of commercial registrations.
15 June 2025