Lahore: ITANZ Technologies Limited has announced plans to make a significant investment in ITANZ Infinity PTY Limited, an Australian company, as stated in a notice for its upcoming Extra Ordinary General Meeting (EOGM) scheduled for June 27, 2026. The meeting, which will take place at the LSE Auditorium in Lahore and virtually via video conference, aims to seek shareholder approval for the investment and other business matters.

The company intends to invest up to AUD 21,857,641, approximately PKR 4,344 million, to acquire a 51% equity interest in ITANZ Infinity PTY Limited. This investment, if approved, will be carried out under Section 199 of the Companies Act, 2017. The special resolution for this investment highlights the strategic move to gain a controlling interest in the associated company, with expectations of substantial returns through dividends.

According to information available from the Pakistan Stock Exchange (PSX), ITANZ Technologies Limited's planned investment will be sourced from excess profits and fresh equity injections, with no reliance on borrowed funds. The company has emphasized that the investment will be executed over a five-year period, contingent on regulatory approvals, including the State Bank of Pakistan's consent. Notably, no interest will accrue on payments that are delayed due to regulatory procedures.

During the meeting, shareholders will also deliberate on a proposal to transition the transmission of financial statements and meeting notices to a digital format, utilizing QR codes and weblinks. This shift is in alignment with the Securities and Exchange Commission of Pakistan's directive dated March 21, 2023, and aims to modernize the company's communication methods with its members.

The board of directors, led by Syed Ahmed Bilal, who holds a significant stake in both ITANZ Technologies Limited and ITANZ Infinity PTY Limited, endorses these resolutions. Mr. Bilal's involvement as a director and substantial shareholder in both entities underscores his vested interest in the proposed investment.

The meeting will also address routine business matters, including the confirmation of minutes from the previous EOGM held on December 31, 2025. Shareholders have been provided with comprehensive details of the proposed investment and other agenda items as per regulatory requirements, ensuring transparency and informed decision-making.