Waves Home Appliances Limited Announces Approval of Annual Financial Statements and Auditor Reappointments at AGM

Karachi, Waves Home Appliances Limited has announced the resolutions passed at their Annual General Meeting (AGM) held on April 29, 2024, at their registered office. The company shared the details in compliance with regulation 5.6.9(b) of the Rule Book of the Pakistan Stock Exchange Limited.

During the AGM, shareholders approved the annual audited financial statements for the year ended December 31, 2023. The reports include the Directors’ Report and the Auditors’ Report, which were received, approved, and adopted as presented.

Furthermore, the meeting saw the reappointment of M/s Rizwan and Company, Chartered Accountants, Lahore as the statutory auditors for the financial year 2024. Their remuneration will remain at the current level.

The AGM also addressed special business, approving all related party transactions conducted during the financial year 2023 with various associated entities including Waves Corporation Limited and Waves Marketplace Limited. The Board of Directors has been authorized to approve similar transactions for the financial year 2024 on a case-by-case basis. These transactions will be presented for formal ratification at the next AGM.