Karachi: An executive director of Waves Corporation Limited has disclosed a substantial transaction involving a gift of shares, according to a report dated October 20, 2026. Haroon Ahmad Khan, an executive director at the company, executed a significant share transfer earlier this month.

The transaction took place on October 6, 2026, involving the transfer of 5,000,000 shares in the form of a gift. The shares were transferred through the Central Depository Company (CDC) at a rate of 0.00. This transaction has resulted in a cumulative total of 84.35 million shares, representing 29.97% of the company's shares.

According to information available from the Pakistan Stock Exchange (PSX), the disclosure of such transactions is in compliance with section 5.6.1.(d) of the PSX Regulations, which mandates that significant transactions by directors, executives, and substantial shareholders, as well as their spouses, must be made public.

This substantial move by Mr. Khan is significant in the context of corporate governance and transparency, ensuring that stakeholders have access to pertinent information regarding the holdings of key figures within listed companies. The designated market category for this disclosure falls under the regulatory requirements of the PSX.