CMA appoints new member in Raysut Cement BoD

Muscat: The Capital Market Authority (CMA) has issued a decision appointing Shabib Mohammed Saif Al Darmaki as a new member of the Board of Directors of Raysut Cement Company to succeed Mobin Jaleel Khan who resigned for personal reasons.

CMA issued on December 11, 2022, a decision dissolving the Board of Directors of Raysut Cement Company and appointed an independent board of directors comprising five experienced and competent persons to temporarily steer the business and works of the board of directors for three years. The move comes as part of CMA’s follow-up on the work of the existing board of directors.

CMA emphasises that the procedures come under the powers conferred on the CMA under the Commercial Companies Law and the Securities Law to protect the investors and maintain the stability of the capital market.