Sindh High Court Sanctions Merger of Supernet Limited into Supernet Technologies

PAKISTAN

Telecard Limited has informed the Pakistan Stock Exchange (PSX) that the Honourable High Court of Sindh at Karachi has sanctioned the merger of its subsidiary, Supernet Limited (SNL), with and into Supernet Technologies Limited (STL).

According to the company’s notification, the Court allowed the merger petition and approved the Scheme of Arrangement relating to the corporate and capital reorganization of the subsidiaries through an order dated February 24, 2026, in petition J.C.M. No. 24 of 2025. A certified copy of the order was received on February 25, 2026.

As a result, the Scheme and the Proposed Arrangement are deemed effective from January 1, 2025.

The restructuring consolidates and amalgamates all assets, liabilities, and obligations of SNL into STL, enabling a streamlined corporate structure and a renewed focus on strategic capital allocation.

In a separate communication to the PSX, Supernet Limited confirmed that the merger has been executed under Sections 279 to 283 and 285(8) of the Companies Act, 2017, following requisite approvals and court sanction.

Under the Scheme, STL will allot and issue ordinary shares to SNL shareholders. The record date for determining shareholder entitlements will be announced in due course in accordance with the Scheme.

The development marks a significant step in group-level restructuring aimed at enhancing operational efficiency and strengthening the company’s strategic direction. – ER News Desk

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