Supernet Technologies Limited (PSX: STL) and its group company Supernet Limited (GEMSPNL) are moving forward with their corporate and capital reorganization involving the merger of GEMSPNL into the Company. The merger follows the Scheme of Arrangement dated May 27, 2025, which was sanctioned by the High Court of Sindh at Karachi on February 24, 2026.
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The Board of Directors of the Company, through resolutions passed on March 30, 2026, approved the allotment and issuance of ordinary shares to shareholders of both entities as part of the merger implementation.
Share Allotment Details
| Allotment Category | Shares Allotted | Swap Ratio |
|---|---|---|
| STL Shareholders | 5,500,000 | 11 STL shares for every 1 STL share held |
| GEMSPNL Shareholders | 101,619,475 | 1.68 STL shares for every 1 GEMSPNL share |
Key Transaction Details
- Record Date: March 25, 2026
- STL Shareholder Allotment: 5,500,000 ordinary shares (ratio of 11:1)
- GEMSPNL Shareholder Allotment: 101,619,475 ordinary shares (swap ratio of approximately 1.68:1)
Fractional Share Treatment
No fractional shares will be allotted under the merger. All fractional entitlements will be consolidated into whole shares to be held in trust by the Company Secretary or a nominated person. Proceeds from these consolidated shares, after expenses, will be donated to a registered charitable institution.
Board Authorization
The Board authorized management to undertake all actions and formalities necessary to complete the Scheme and related matters, ensuring the smooth execution of the merger process.
About Supernet Technologies Limited
Supernet Technologies Limited (PSX: STL) is a Pakistan-based company engaged in technology and investment activities. The company derives a significant portion of its earnings from investments in associate companies while pursuing operational opportunities in the technology sector.
About Supernet Limited (GEMSPNL)
Supernet Limited (GEMSPNL) is a group company being merged into Supernet Technologies Limited as part of the corporate reorganization approved by the High Court of Sindh.
