Supernet technologies finalizes GEMSPNL merger, credits over 107 million shares

Supernet Technologies Limited has completed a major post-merger step by allotting and crediting more than 107 million ordinary shares following the court-approved merger of Supernet Limited (GEMSPNL) into STL, the company said in a notice to the Pakistan Stock Exchange on Wednesday.

The allotment includes 5.5 million shares issued to STL shareholders in the ratio of 11 STL shares for every one held, and 101.619 million shares allotted to GEMSPNL shareholders based on a swap ratio of roughly 1.68 STL shares per GEMSPNL share, with fractional adjustments applied.

Shares have been credited to the accounts of eligible shareholders in the Central Depository System (CDS) of the Central Depository Company of Pakistan Limited, while physical certificates are being dispatched where applicable.

The Scheme of Arrangement was sanctioned by the High Court of Sindh, Karachi, on February 24, 2026, following multiple prior disclosures dating from January 29, 2025, to April 1, 2026, covering the proposed corporate and capital restructuring.

With the merger complete, GEMSPNL has been delisted and stands dissolved without winding up. STL continues to trade on the Main Board of the PSX, effective April 1, 2026.

Company officials said the move represents a critical milestone in STL’s ongoing restructuring, streamlining the group structure under the listed Main Board entity and advancing the amalgamation process.