Change in Board meeting of Waves Corporation Limited

Karachi, Waves Corporation Limited informed Pakistan Stock Exchange that board of directors meeting of the company have approved the appointed of Mr. Hamza Ahmad Khan with effect from January 10, 2023 as Director of the company.

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. The Company is principally engaged in retailing and trading of domestic consumer appliances and other light engineering products, besides manufacturing and assembling of the same.

The Company produces a variety of consumer appliances-including refrigerators, air conditioners, LED TVs, washing machines, microwave ovens, in addition to its more traditional offerings of sewing machines, water heaters and gas ovens etc.

The total number of shares the company has introduced so far are 45,410,000. The Earnings per shares of the Company was (3.50) in 2017 which was 2.10 in 2016. Their Profit after Tax was 327,508,000 in 2017 which was 95,377,000 in 2016.