The company was to enter liquidation from January 1 after the expiry of the present concession agreement on December 31. Last week, the PSC had informed the Muscat Securities Market (MSM) that it has been requested by the ministry to continue operations at PSQ for another three months, up to March 31, 2017.
The PSC board held an emergency meeting on Thursday to study the ministrys request.
After lengthy deliberations and taking into consideration the previous board resolutions and decisions taken by shareholders in the second extraordinary general meeting (EGM) on December 7, the PSC said it was agreed by the majority of the directors, to extend the concession agreement to manage and operate PSQ, with the same terms and conditions…
Read the full article at: http://www.muscatdaily.com/Archive/Business/PSC-seeks-one-year-extension-of-PSQ-concession-agreement-4wii