Mubasher: Oman Chlorine said its shareholders unanimously approved on Tuesday the cancellation of a previous decision taken on 17 March 2011 to sell the company’s stake in Gulf Chlorine Company WLL – Qatar to Oman Industrial Development Company.

The sale would have been done at par value in addition to actual project development cost, the Omani firm said in a statement to the Muscat Securities Market (MSM) on Wednesday.

Shareholders at the ordinary general meeting (OGM) also unanimously approved cancelling a decision, dated 18 March 2013, to sell 24% of Oman Chlorine shares in UAE-based Union Chlorine Company LLC to Oman Industrial Development Company under the same conditions.

Finally, the OGM approved the acquisition of an additional 55% stake in Oman Industrial Development Company, making the chlorine firm its sole owner. This will be carried out during the fiscal year ending 31 December 2015, according to the bourse filing.

Oman Chlorine previously posted a profit of OMR 1.3 million ($3.3 million) in Q2-15, down 6.32% from OMR 1.4 million ($3.6 million) in the corresponding period of 2014.