During the meeting of the board of directors of Oman Cables Industry SAOG held on July 24, 2013, the following decision was approved by the majority of the votes of the members: to restructure the management of the company by abolishing the position of the managing director and having the chief executive officer reporting directly to the board of directors and consequently terminate the employment agreement of the current managing director Mr. Hussain Bin Salman with immediate effect as per Omani law.