Waves Corporation Limited Reports Executive Share Transactions to Pakistan Stock Exchange

Karachi, Waves Corporation Limited, formerly known as Waves Singer Pakistan Limited, has reported a series of share transactions by its executive, Ahmad Bilal, to the Pakistan Stock Exchange (PSE). As detailed in their communication, Ahmad Bilal engaged in buying and selling company shares on January 8 and January 9, 2024. The reported transactions include the purchase of 20,000 shares at a rate of Rs. 8.18 per share and the sale of 12,000 shares at Rs. 8.17 per share on January 8, followed by the sale of another 8,000 shares at Rs. 8.20 per share on January 9.

These transactions are noted to be in the form of CDC (Central Depository Company) Ready shares. Waves Corporation Limited has confirmed that these transactions will be presented and reviewed in the subsequent board meeting. The company aims to highlight any non-compliances, if found, as required under clause N. 5.6.1.(d) of PSX Regulations. This clause mandates the disclosure of all share transactions by company executives during a specific period.

The notification to the Pakistan Stock Exchange is part of the regulatory compliance process, ensuring transparency and integrity in the dealings of company executives. Such disclosures are essential for maintaining investor confidence and upholding the principles of good corporate governance in the Pakistani stock market.