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Naqi Water Co. Announces Resignation and Appointment of a Board Member
| Element List | Explanation |
|---|---|
| Introduction | Naqi Water Company announces Board's acceptance of the following: 1- Resignation of the Board Member Mr. Zaid Nehad Al-Nathir (Non-Executive Member and Member of the Remuneration and Nominations Committee) from his positions, effective from 03-06-1446 AH, corresponding to 04-12-2024. The resignation is due to personal circumstances. 2- Appointing Professor Obaid bin Saad AlMotairy as a member of the Board of Directors, replacing the resigned member, effective from 03-06-1446 AH, corresponding to 04-12-2024, until the end of the current board term. 3- Appointment of Dr. Abdullah bin Omar Al-Husseini as a member of the Remuneration and Nominations Committee, replacing the resigned member, effective from 03-06-1446 AH, corresponding to 04-12-2024, until the end of the current committee term. The Board of Directors would like to thank Mr. Zaid Nehad Al-Nathir for his efforts and wish him all the best. |
| Element List | Explanation |
|---|---|
| Resigned Member Name | Mr. Zaid Nehad Alnathir |
| Membership Type | Non- Executive |
| Resignation Submission Date | 2024-12-04 Corresponding to 1446-06-03 |
| Resignation Effective Date | 2024-12-04 Corresponding to 1446-06-03 |
| Membership Starting Date for the Resigned Member | 2021-03-10 Corresponding to 1442-07-26 |
| Reasons of Resignation | private conditions. |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Professor Obaid Saad Almotairy |
| Membership Type | Independent |
| Membership Start Date | 2024-12-04 Corresponding to 1446-06-03 |
| Brief Resume of the Appointed Member | Professor Obaid Al Motairy holds a PhD in Accounting and Auditing from the University of Essex in the UK, a master’s degree in accounting from the University of Colorado in the United States, and a bachelor’s degree in accounting from King Saud University. Prof. Al Motairy has held several leadership positions in the Kingdom of Saudi Arabia, with over 30 years of experience in leadership, strategic planning, administrative supervision, and membership in accounting and auditing standards committees Dr. Al-Mutairi is currently the Vice President for Graduate Studies and Research at Al Yamamah University. He serves as a board member, chair and member of audit committees, and member governance councils in several Saudi companies. Dr. Al Almotairy has extensive experience in corporate governance through his membership in the Saudi Organization for Certified Public Accountants (SOCPA) Auditing Standards Committee, the Saudi Accounting Association Board, the General Assembly of the Gulf Cooperation Council Accounting and Auditing Organization, and the Deans of Colleges of Business Administration in the Gulf Cooperation Council countries. |
| The date of the approval by other official authorities | Not applicable |
| Element List | Explanation |
|---|---|
| Date of Board Meeting in which Appointed New Member(s) were Appointed | 2024-12-04 Corresponding to 1446-06-03 |
| Board Approval | Board Approval May not be Deemed Final, this Appointment Shall Be Put before the First General Assembly Meeting for Approval |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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