Abu Dhabi's Eshraq Initiates Legal Action Linked To Goldilocks Share Pledges

2026-06-01 02:40:48

(MENAFN- Khaleej Times) Eshraq Investments on Monday said legal action has been initiated before Abu Dhabi Public Prosecution in relation to its acquisition of shares in Goldilocks Investment Company Limited, following market speculation surrounding the transaction.

In a disclosure to the Abu Dhabi Securities Exchange (ADX), the company said the legal action relates to shares acquired in Goldilocks that were subject to one or more pledges, which were not disclosed during Eshraq's General Assembly meeting held on April 28, 2022.

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The company stressed that the matter remains under review by the Public Prosecution and has not yet reached the litigation stage before the competent courts. It added that all available legal avenues have not yet been exhausted.

The disclosure was issued at the request of ADX after the company became aware of market rumours relating to the matter. Eshraq said the update follows earlier disclosures regarding board resolutions issued in November 2025 and shareholder resolutions approved in December 2025.

The development comes as listed companies in the UAE continue to strengthen corporate governance, transparency and disclosure standards, amid increased regulatory focus on protecting shareholder rights and ensuring the timely disclosure of material information.

The Goldilocks transaction has been one of Eshraq's most notable investments in recent years, with shareholders previously approving resolutions related to the investment as part of the company's broader strategic initiatives. The latest disclosure marks the first official confirmation that legal proceedings have been initiated in relation to alleged undisclosed pledges attached to part of the acquired shareholding.

Eshraq emphasised that the matter remains at the Public Prosecution stage and that no court proceedings have commenced at this point.

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