Karachi: Supernet Technologies Limited (STL) has announced a significant increase in its issued and paid-up share capital following a Scheme of Arrangement sanctioned by the Honourable High Court of Sindh at Karachi. The Scheme, dated May 27, 2025, received court approval on February 24, 2026, and involves the allotment and issuance of new ordinary shares to eligible shareholders of STL and Supernet Limited (GEMSPNL).
As of March 30, 2026, the Board of Directors of STL confirmed that 5,500,000 ordinary shares were allocated to existing STL shareholders, based on a ratio of 11 ordinary shares for every share held as of the record date, March 25, 2026. In addition, 101,619,475 ordinary shares were issued to GEMSPNL shareholders in a swap ratio of approximately 1.68 STL shares for each GEMSPNL share held.
In accordance with the Scheme’s provisions, the new STL shares have been credited to the eligible shareholders’ accounts within the Central Depository System of the Central Depository Company of Pakistan Limited. Physical share certificates are also being dispatched to eligible shareholders as necessary.
According to information available from the Pakistan Stock Exchange (PSX), the issuance of these shares has resulted in STL’s share capital increasing from PKR 5.00 million to PKR 1.08 billion, comprising 107,619,475 ordinary shares valued at PKR 10 each. This development marks a very large or significant move in STL’s capital structure.
Following these transactions, GEMSPNL will be dissolved without undergoing the winding-up process and will be automatically delisted from the Pakistan Stock Exchange. This adjustment follows the terms outlined in the Scheme and reflects changes in the designated market category for both entities.
Further details of this development are to be published in ‘Business Recorder’ and ‘The Daily Express’ on April 2, 2026.