June 05, 2026 (MLN): Telecard Limited (PSX: TELE) has approved a proposal to invest up to ₹564.12 million in a potential rights issue of its subsidiary, Supernet Technologies Limited (STL), pending shareholder approval.
A notice filed with the Pakistan Stock Exchange (PSX) confirms that the board resolution was adopted through circulation on June 05, 2026, in accordance with Sections 96 and 131 of the Securities Act, 2015, and Clause 5.6.1 of the PSX Rule Book.
The investment aligns with STL’s announced rights issue, disclosed on June 1, 2026. Telecard intends to subscribe at a maximum price of ₹10 per share.
The proposal will be subject to the requisite approvals under Section 199 of the Companies Act, 2017, including shareholder consent. An Extraordinary General Meeting (EGM) will be convened to secure the necessary approvals, with further details to follow.
Telecard has authorized its management to take all necessary steps to facilitate the process and ensure regulatory compliance.
This move underscores Telecard’s ongoing support for STL and its confidence in the subsidiary’s growth trajectory in Pakistan’s technology and digital solutions sector.
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