Port Services shareholders agree to continue operations for one more year

Muscat: An extraordinary general meeting (EGM) of the Port Services Corporation on Tuesday agreed to continue operations for another year, by nullifying a decision to liquidate the company taken earlier.
The EGM also unanimously agreed to defer the liquidation until January 2018, after the expiry of the concession agreement on December 31,2017, according to a disclosure statement posted by the company on MSM website.
The shareholders unanimously agreed to authorise the board to negotiate with Moore Stephens, the appointed liquidators, in the second extraordinary general meeting on December 12, 2016, to extend the validity of their proposal until January 2018.
Port Services Corporation’s extra ordinary general meeting was attended by ownership representing 82.4065 per cent.