Supernet Technologies Limited, listed on the Pakistan Stock Exchange under the ticker STL, has taken a decisive step forward in its corporate restructuring by approving a major share allotment as part of the ongoing merger of its group company Supernet Limited, trading on the Growth Enterprise Market Segment under the symbol GEMSPNL, into the company. The merger is being carried out under a Scheme of Arrangement dated May 27, 2025, which was formally sanctioned by the High Court of Sindh at Karachi on February 24, 2026, and the Board of Directors passed the relevant resolutions on March 30, 2026, to advance the process.
Under the approved allotment, 5,500,000 ordinary shares will be issued to existing STL shareholders as of the record date of March 25, 2026, in the ratio of 11 ordinary shares of the company for every 1 ordinary share held. Additionally, 101,619,475 ordinary shares of STL will be allotted to eligible shareholders of GEMSPNL as of the same record date, on the basis of a swap ratio of approximately 1.68 ordinary shares of STL for every 1 ordinary share of GEMSPNL, subject to adjustment of fractional shares. In total, the two allotments bring the combined share issuance to over 107 million shares, representing one of the more significant corporate capital restructuring exercises seen in Pakistan’s technology sector in recent memory.
No fractional shares will be allotted under the scheme. All fractional entitlements will be consolidated into whole shares to be held in trust by the Company Secretary or a nominated person, with the proceeds after expenses to be donated to a registered charitable institution. The Board has authorised management to undertake all actions and formalities necessary to complete the Scheme and all related matters. The transaction was formally notified to the Pakistan Stock Exchange through the exchange’s disclosure portal, making the development part of the public record. The consolidation of Supernet Limited into Supernet Technologies Limited is expected to streamline the group’s corporate structure, eliminate intergroup complexities, and create a stronger, unified entity better positioned to operate and grow within Pakistan’s competitive technology and connectivity landscape.
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