Karachi: Waves Corporation Limited has announced a series of share transactions by Nighat Haroon Khan, a Non-Executive Director of the company, which were carried out on July 1 and July 3, 2024. According to information available from the Pakistan Stock Exchange (PSX), these transactions involved both purchasing and selling substantial quantities of shares.

On July 3, Ms. Khan sold and then repurchased exactly 3,000,000 shares at a rate of Rs. 7.31 per share, transactions executed through the future and normal delivery market (NDM) respectively. Similarly, on July 1, she engaged in buying and selling activities with 500,000 shares, buying at Rs. 7.34 and selling at Rs. 7.20 per share through the respective markets.

The company has confirmed that these transactions will be reviewed in the next board meeting, with a specific focus on any potential non-compliance issues as outlined under clause No. 5.6.1.(d) of PSX Regulations. Furthermore, it is noted that if the holding period for these transactions is less than six months, any profits derived will be remitted to the Securities and Exchange Commission of Pakistan (SECP) as mandated by Section 105 of the Securities Act, 2015.

This disclosure underscores the rigorous regulatory environment under which company directors operate, ensuring transparency and adherence to corporate governance standards.