AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Waves Corporation Limited (formerly Waves Singer Pakistan Limited) has disclosed several transactions conducted by Nishat Haroon Khan, a Non-Executive Director, involving substantial amounts of company shares.
The transactions, detailed below, occurred between June and July 2024, involving both purchases and sales of shares on different dates and at varying rates, all managed through the Central Depository Company (CDC) within the non-deliverable market (NDM) and ready market segments.
On June 45, 2024, Ms. Khan purchased 6,000,000 shares at a rate of 8.08.
On June 28, 2024, she sold 3,000,000 shares at 7.07 and purchased 3,000,000 shares at 7.20.
On July 1, 2024, she sold 500,000 shares at 7.20.
On July 3, 2024, Ms. Khan made two separate purchases, each of 3,000,000 shares, at rates of 7.18 and 7.31.
She sold 250,000 shares on July 4, 2024, at 7.31 and 200,000 shares on July 5, 2024, at 7.33.
According to information available from the Pakistan Stock Exchange (PSX), these transactions will be reviewed in the upcoming board meeting to address any non-compliance issues as mandated by clause No. 5.6.1(d) of PSX Regulations. The company has also confirmed that, where applicable, profits from sales conducted within six months of purchase will be surrendered in accordance with Section 105 of the Securities Act, 2015, with the corresponding amounts to be deposited with the Securities and Exchange Commission of Pakistan (SECP).