Karachi: Waves Home Appliances Limited, formerly known as Samin Textiles Limited, has disclosed significant stock transactions by a substantial shareholder, Waves Corporation Limited, in accordance with PSX Regulation IA 5.6.1.

The company reported two major transactions executed by Waves Corporation Limited. The first transaction involved the sale of 4,804,707 shares at a rate of 8.90 per share on March 30, 2024, and the second, a sale of 489,925 shares at 8.98 per share on July 31, 2024. Both transactions were conducted in the ready form of share certificates through the Central Depository Company (CDC).

According to information available from the Pakistan Stock Exchange (PSX), these transactions are set to be reviewed in the subsequent board meeting of Waves Home Appliances Limited. The review will include an examination of any potential non-compliance issues as stipulated under clause No. 5.6.1(d) of PSX Regulations. The company has also confirmed compliance with the holding period requirements. For transactions within six months, profits are to be surrendered to the Securities and Exchange Commission of Pakistan (SECP) as mandated under Section 105 of the Securities Act, 2015, with appropriate notifications sent to PSX.

This disclosure underscores the company's commitment to transparency and regulatory compliance regarding its internal and substantial shareholder activities.