We refer to letter received from Muscat Securities Market reference MS/195/2015 dated 04.03.2015 pertaining to our share price decrease for the last few sessions. 

 This is to inform you that we had disclosed our audited results on the MSM website on 26 February 2015 pursuant to the approval of the audited financial statements by the Board of Directors who met in the evening of 25 February 2015. 

 Post this disclosure, few of the shareholders might have decided to sell the shares which may have caused the share price to have moved adversely. At this stage, we do not have any visibility as to who are the shareholders who might have chosen to sell/ buy in these sessions which might have warranted a reduction in the share price. 

There are no operational issues being faced by either the company or any of the other companies in the group. Besides this, we are not aware of any other issues that might have led to this movement in the share price.