The Capital Market Authority has issued circular suspending general meetings of public joint stock companies and investment funds until further notice.

The move comes after the decision of the Supreme Committee tasked with handling the developments resulting from the spread of the new Coronavirus (COVID-19) to suspend all gatherings, events and conferences in the Sultanate effective from Wednesday March 18, 2020 until further notice.

It is noteworthy that general meetings of public joint stock companies and investment funds should convene within 90 days maximum from end of the financial year of the company as per Article 172 of the Commercial Companies Law.