The leadership of Telecard Limited has formally recommended obtaining definitive shareholder authorization to inject over five hundred sixty-four million rupees into an upcoming right shares offering planned by its subsidiary firm, Supernet Technologies Limited. According to an official corporate disclosure transmitted to the Pakistan Stock Exchange, the company confirmed that its board of directors reviewed and authorized the investment proposal via a circular resolution concluded over the weekend.
This corporate maneuver will position the parent tech company to purchase equity up to a maximum financial ceiling of five hundred sixty-four million, one hundred twenty-three thousand, nine hundred fifty-four rupees. The planned transaction is structured to take place at a maximum purchase valuation of ten rupees per single share within the upcoming capital raise, provided that all mandatory institutional benchmarks and state regulatory clearances are successfully obtained.
Executing this substantial capital injection requires explicit approval from the company equity owners under the statutory mandates of Section 199 of the Companies Act of 2017, which regulates transactions involving associated undertakings. To fulfill these legal obligations, the board has empowered the executive management team to carry out all necessary administrative preparations, which includes scheduling and organizing an Extraordinary General Meeting where investors can cast their votes on the special resolution.
This strategic decision follows an earlier market announcement made by Supernet Technologies Limited at the start of the current month, where the subsidiary publicly shared that its management was actively exploring a right issue mechanism to generate fresh working capital. By participating directly in this capital expansion, the parent organization will effectively subscribe to the fresh equity lot being brought to the market, thereby solidifying its financial footprint and helping stabilize the operational liquidity of its corporate subsidiary.
The firm concluded its regulatory statement by noting that the precise scheduling, logistics, and complete textual layout of the resolutions for the upcoming Extraordinary General Meeting will be officially broadcasted to all registered equity holders in due course. This mandatory market disclosure was compiled and distributed to the public in strict compliance with the statutory transparency parameters outlined within the Securities Act of 2015 and the formal operational guidelines of the Pakistan Stock Exchange Rule Book.
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