STL approves merger with Supernet Limited under reorganization plan

June 27, 2025 (MLN): Supernet Technologies Limited (PSX: STL), in collaboration with its group company Supernet Limited (GEMSPNL) and their respective members, has approved a corporate and capital reorganization involving a merger by way of amalgamation.

Under this arrangement, the entire undertaking of GEMSPNL will be merged with and into STL, as per the notice issued by PSX.

This merger also encompasses all ancillary and incidental matters related to the transaction. As part of the process, shares of STL will be issued accordingly.

The proposal was placed before the meeting for consideration and approval, and has now been approved and adopted.

This approval also includes any modifications or amendments that may be required or conditions imposed by the High Court of Sindh at Karachi.

The merger remains subject to the sanction of the High Court of Sindh at Karachi, in accordance with the provisions of the Companies Act, 2017.