Waves Corporation Limited Announces Transactions by Executive Director Haroon Ahmad Khan

Karachi, Waves Corporation Limited has disclosed a series of transactions by Haroon Ahmad Khan, Executive Director, concerning shares of the company, According to information available from the Pakistan Stock Exchange (PSX). The details of these transactions, which include both purchases and sales of shares, were outlined as per the requirements of PSX Regulation 5.6.1.(d).

On May 3, 2024, Khan acquired 1,500 shares at a rate of 7.46 PKR per share, categorized under the ‘Other-In’ transaction type. This initial transaction was followed by multiple significant activities in June. On June 5, Khan sold 3,000 shares at 8.07 PKR and simultaneously engaged in a large ‘Other-Out’ transaction, divesting 1,997,000 shares at 8.03 PKR. On the same day, he purchased 2,000,000 shares at 8.18 PKR under the ‘Other-In’ category, indicating a strategic reshuffling of his holdings.

Further transactions on June 6 include the sale of 639,500 shares at 7.99 PKR and a corresponding ‘Other-In’ purchase of 639,500 shares at 8.14 PKR. All transactions were conducted through the Central Depository Company (CDC) with different share certificate forms, specifically in the ‘Future’ and ‘NDM’ markets.

The board of Waves Corporation Limited will review these transactions in the upcoming board meeting, with a focus on any potential non-compliance issues as mandated by the PSX Regulations. The company also confirmed adherence to the holding period rules outlined in Section 105 of the Securities Act, 2015, ensuring compliance with legal requirements concerning profits generated within a six-month period.