Karachi: Waves Corporation Limited disclosed a series of share transactions executed by its Executive Director, Aroon Ahmad Khan, according to a company filing dated September 26, 2025. These transactions, which occurred over several weeks, have been reported under the P55 Regulation 5.6.4, requiring disclosure of interest by relevant persons holding company shares.
On July 24, 2025, Mr. Khan engaged in both buying and selling activities. He purchased 4,750,000 shares at a rate of 8.82 per share, boosting his cumulative shareholding to 100.39 million shares, representing 35.67% of the total shares. Subsequently, he sold an equivalent number of shares, reducing his holdings to 95.64 million shares, equating to 33.98%.
Later, on July 29, Mr. Khan again bought 3,122,000 shares at 8.79 per share. This transaction increased his holdings to 98.76 million shares or 35.09% of the company's stock. Following this, he sold the same quantity of shares at a slightly lower rate of 8.68 per share, returning his shareholding to the previous level of 95.64 million shares, maintaining a 33.98% holding.
The most recent transaction took place on September 3, when Mr. Khan purchased 2,500,000 shares without a specified rate, bringing his total shares to 111.13 million or 34.87%. He then sold these shares, again bringing his holdings back to 95.64 million shares, holding steady at 33.98%.
According to information available from the Pakistan Stock Exchange (PSX), these transactions have been executed in compliance with the necessary regulations. The company is required to present these transactions at the next Board of Directors meeting, with minutes to be submitted via Form-30.
The company must ensure that each transaction's holding period exceeds six months; otherwise, profits must be deposited with the Securities and Exchange Commission of Pakistan (SECP) as per Section 105 of the Securities Act, 2015. Additionally, the company is obligated to update the details immediately in the UIN Management System to remain compliant with regulatory requirements.