Karachi: Waves Home Appliances Limited, formerly known as Samin Textiles Limited, has disclosed several significant transactions by Waves Corporation Limited, a substantial shareholder. These transactions took place between September 6 and September 11, 2024, involving the sale of substantial shares.
According to information available from the Pakistan Stock Exchange (PSX), Waves Corporation Limited engaged in four separate transactions: selling 3.00 million shares on September 6 at Rs. 8.66 each; 2.00 million shares on September 9 at Rs. 8.73 each; 2.00 million shares on September 10 at Rs. 8.47 each; and a larger transaction of 8.00 million shares on September 11 at Rs. 9.12 each. All transactions were conducted through the Central Depository Company (CDC) under the ready market category.
The designated market category for these transactions is the home appliances sector. These sales will be reviewed in the upcoming board meeting, as stipulated by clause No. 5.6.1.(d) of PSX Regulations. The company has also confirmed compliance with Section 105 of the Securities Act, 2015, regarding the holding period for these transactions, stating that if any were within six months, the profits would be returned to the Securities and Exchange Commission of Pakistan (SECP).