Naqi Water Chairman pledges to hold 35% shares for year

NAQI
2282 1.01% 60.10 0.60 2P
7204.B 0.00% 0.00 0.00

Riyadh — Mubasher: Naqi Water Company has received a formal notification from its Chairman and major shareholder, Ameen Abdullah Al Mallah, regarding a voluntary commitment to retain his entire equity stake.

Al Mallah, who holds 7 million shares representing 35% of the company’s total 20 million units, has pledged not to sell, transfer, or dispose of his holdings for a period of one year starting from 27 October 2026.

The company stated that this undertaking is intended to support the stability of the ownership structure and bolster investor confidence in the long-term expansion strategy and corporate plans.

The lockup applies to all forms of disposal to individuals and is effective immediately.

Naqi Water confirmed that this voluntary pledge by the Chairman will have no financial impact on the company’s financial statements or operations.

The move underscores the commitment of the primary shareholder to the firm’s future growth trajectory.

On 20 September, the company’s shareholders approved a formal amendment to Article 3 of the Articles of Association, which outlines the firm's corporate purposes.

Source: Mubasher Source: {{details.article.source}}