Karachi, Waves Corporation Limited informed Pakistan Stock Exchange that annual general meeting of the company is scheduled to be held on August 29, 2022 at Lahore.
The agenda of the meeting will to receive, consider and adopt the Annual Audited Financial Statements of the Company for the year ended December 31, 2021 together with the Directors and Auditors Reports thereon, to appoint auditors for the year ending December 31, 2022 and fix their remuneration and to transact any other business with the permission of the chair.
Further, the closed period of the company is from August 22, 2022 to August 29, 2022 (both days inclusive).
Waves Singer Pakistan Limited has become a merged company with the acquisition of Cool Industries (Pvt) Limited by Singer Pakistan during 2017. After the approval of the Scheme of Merger by Sindh High Court, the combined company has acquired the name of Waves Singer Pakistan Limited.
Singer established its presence in the Indian sub-continent during 1877. Over the years, and after the independence of Pakistan, Singer continued its business of sewing machines in the country, but also started dealing in domestic consumer appliances, besides manufacturing and assembling light engineering products. In 1985, the Company became a public listed company.
The total numbers of shares are 281,406,088. The Earnings per share is 0.59 in 2020 which was 1.39 in 2019. The profit after taxation is 109,837,000 in 2020 which was 260,085,000 in 2019.