Karachi: Waves Home Appliances Limited has disclosed a significant transaction by one of its substantial shareholders, Waves Corporation Limited, according to information available from the Pakistan Stock Exchange (PSX).

On July 30, 2024, Waves Corporation Limited sold 10 million shares of Waves Home Appliances at a price of 10.17 per share in the Ready market category. This transaction, involving shares registered under the CDC (Central Depository Company) form, was executed as per the regulatory framework mandated by PSX under clause 5.6.1(d).

The company has confirmed that the transaction will be reviewed in the upcoming board meeting, where any non-compliance issues, if identified, will be addressed. Furthermore, it was noted that the holding period for these shares exceeded six months. However, if this period had been less than six months, profits from the transaction would have been subject to additional checks under Section 105 of the Securities Act, 2015, with a cheque for the profit amount being deposited to the Securities and Exchange Commission of Pakistan (SECP).

Waves Corporation Limited's transaction aligns with regulatory standards, ensuring transparency and adherence to the stringent guidelines of the PSX.