Waves Home Appliances Limited Announces Updated Capital Structure Following Court-Sanctioned Scheme

Karachi, Waves Home Appliances Limited is delighted to announce the implementation of a new capital structure following the successful approval of the Scheme of Arrangement by the honorable Lahore High Court. The scheme, entered into by Waves Home Appliances Limited (WHALE or the Company) and Waves Corporation Limited, has resulted in updated Authorized Capital and Paid-up Capital figures for the Company.

Under the terms of the approved scheme, WHALE’s Authorized Capital now stands at PKR 4,250,000,000, divided into 425,000,000 ordinary shares with a nominal value of PKR 10/- each. Furthermore, the Company’s Issued Capital has been adjusted to PKR 2,678,853,070, divided into 267,885,307 ordinary shares, also with a nominal value of PKR 10/- each.