Karachi: Waves Home Appliances Limited has publicly disclosed a substantial transaction involving its shares by a significant shareholder, as mandated by the PSX regulations. The transaction was executed on July 22, 2024, involving the sale of 2.65 million shares by Waves Corporation Limited, a major shareholder in the company. The shares were sold at a rate of PKR 9.71 per share through the Central Depository Company (CDC) in the Ready Market.

According to information available from the Pakistan Stock Exchange (PSX), this significant transaction by a substantial shareholder was promptly reported to the PSX, adhering to the disclosure requirements under clause 5.6.1(d) of the PSX Regulations. The company has confirmed that the transaction details will be thoroughly reviewed in the upcoming board meeting, ensuring any potential non-compliance issues are addressed. Moreover, the holding period for these shares exceeded six months, which aligns with the regulatory requirements. In cases where transactions occur within a six-month period, the company has reassured that profits are dealt with in compliance with Section 105 of the Securities Act, 2015, by depositing the equivalent profit amount with the Securities and Exchange Commission of Pakistan (SECP).

This disclosure highlights Waves Home Appliances Limited's commitment to transparency and strict adherence to regulatory guidelines, ensuring that all significant transactions are duly reported and scrutinized as required.