STL finalizes GEMSPNL merger, issues 107m shares

April 1, 2026 (MLN): Supernet Technologies Limited (PSX: STL) has successfully completed a key stage in its corporate reorganization, issuing over 107 million ordinary shares following the merger of Supernet Limited (GEMSPNL) into STL, according to a disclosure submitted to the Pakistan Stock Exchange (PSX).

The merger scheme, sanctioned by the High Court of Sindh at Karachi on February 24, 2026, involved a share swap whereby STL shareholders received 11 shares for every one share held, while GEMSPNL shareholders were allotted approximately 1.68 shares of STL for each GEMSPNL share.

Eligible shareholders as of the record date, March 25, 2026, have had their shares credited in book-entry form through the Central Depository Company of Pakistan Limited (CDC), with physical certificates dispatched where applicable.

Following completion of the allotment process, the company’s paid-up share capital increased to Rs1.076bn, comprising 107.62m ordinary shares of Rs10 each.

With the merger finalized, GEMSPNL has been formally delisted from the PSX and stands dissolved without winding up. STL will continue to trade on the Main Board of the PSX.

The merger is part of STL’s ongoing strategy to streamline its corporate structure and consolidate operations under the Main Board-listed entity.

The combined entity is expected to be monitored for its potential impact on STL’s operational efficiency and strategic growth initiatives.

Copyright Mettis Link News