Waves Corporation Limited Director Executes Series of Gift Transactions

Karachi, According to information available from the Pakistan Stock Exchange (PSX), Nighat Haroon Khan, a Non-Executive Director of Waves Corporation Limited (formerly Waves Singer Pakistan), has recently executed a series of gift transactions involving company shares. The transactions reported include gifting 2,000,000 shares on May 14, 2024, and two additional gifts of 4,000,000 and 3,000,000 shares respectively on May 15, 2024. All shares were transferred at a rate of 0.00 through the Central Depository Company (CDC).The company has confirmed that these transactions will be presented at the upcoming board meeting for review. Additionally, the transactions adhere to the PSX Regulations clause No. 5.6.1.(d), which includes considerations for any non-compliances. Furthermore, it has been confirmed that the holding period for these transactions exceeded six months. If it had been less than six months, any profit would be required to be deposited with the Securities and Exchange Commission of Pakistan (SECP) un
der Section 105 of the Securities Act, 2015.