Karachi: Societe Generale Pvt. Limited, a substantial shareholder in Telecard Limited, recently executed a sell transaction involving the company’s shares. The transaction was disclosed in accordance with the Pakistan Stock Exchange’s regulations and involved the sale of 500,000 shares at a rate of 8.31 per share. Following this transaction, the cumulative number of shares held by Societe Generale Pvt. Limited now stands at 52.59 million, representing a 15.53% cumulative percentage of the company’s shares.

According to information available from the Pakistan Stock Exchange (PSX), this transaction was executed on September 5, 2025, and falls within the category of a Minor move. The regulatory framework necessitates that such transactions, executed by directors, CEOs, executives, substantial shareholders, their spouses, and minors, are presented by the company secretary at the subsequent board meeting. The minutes of these meetings are required to be submitted via Form-30 of the Correspondence Manual through the PUCARS system.

In adherence to the Securities Act, 2015, if the holding period for the transaction is less than six months, any profit gained must be deposited with the Securities and Exchange Commission of Pakistan (SECP). Furthermore, no director, CEO, or executive is permitted to deal in the shares of the listed company during a closed period. The company is also required to update the requisite details in the UIN Management System promptly.