Karachi, June 5, 2026 — Telecard Limited has announced that its Board of Directors has recommended a potential investment of up to PKR 564.12 million in a forthcoming rights issue by its subsidiary, Supernet Technologies Limited (STL).
According to a material information disclosure submitted to the Pakistan Stock Exchange (PSX), the recommendation was approved through a circular resolution passed by Telecard’s Board of Directors on June 5, 2026. The proposed investment would be made at a maximum subscription price of PKR 10 per share, subject to the terms and conditions of the planned rights offering.
The company stated that the transaction remains contingent upon obtaining the necessary approvals from Telecard’s shareholders in accordance with Section 199 of the Companies Act, 2017. To facilitate this process, the Board has authorized management to undertake the required actions, including convening an Extraordinary General Meeting (EGM) where shareholders will be asked to consider and approve the proposal.
The investment is intended to support STL’s anticipated capital-raising initiative, which was previously disclosed by the subsidiary on June 1, 2026. The move reflects Telecard’s continued commitment to strengthening its investment in its subsidiary and supporting its future growth plans.
Further details regarding the EGM and the proposed investment will be communicated to shareholders in due course.
Investors and market participants are expected to closely monitor developments as the company moves forward with the shareholder approval process and the planned rights issue.
