Waves appliances directors, shareholder subscribe Rs516m rights shares

September 03, 2026 (MLN): Waves Home Appliances Limited (PSX: WAVESAPP) has received Rs515.686mn from its directors and substantial shareholder against the subscription of 51,568,658 right shares at Rs10 per share, representing 34.38% of the total rights issue.

An auditor's certificate issued by Rizwan & Company, Chartered Accountants, confirmed the amount was received in a bank account maintained with Bank Makramah Limited, Y Block, Defence Housing Authority, Lahore, in accordance with the rights issue approved by the Board of Directors on July 23, 2026.

The auditors noted a discrepancy between Waves Corporation Limited's shareholding on the CDC Register (92,000,000 shares) and the company's own record (92,000,500 shares).

Based on its own record, Waves Corporation subscribed to 51,520,280 rights shares for Rs515.203mn, against an entitlement of 51,520,000 shares per the CDC record, resulting in an excess subscription of Rs2,800 over its rightful entitlement.

Hamza Ahmad Khan and Nighat Haroon Khan also subscribed to an excess amount of Rs10 each over their entitlements.

The aforementioned information was disseminated through a notification to Exchange.

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