iTANZ shareholders approve up to Rs4.34 billion investment in Australian associated company

Shareholders of iTANZ Technologies Limited have approved an investment of up to AUD21.857 million, equivalent to approximately Rs4.344 billion, to acquire a 51% equity stake in ITANZ Infinity Pty Limited, an Australia-based associated company.

The approval was granted at the company’s Extraordinary General Meeting held on June 27, 2026, at the LSE Auditorium, Lahore, and through video link facility, according to a notice submitted to the Pakistan Stock Exchange.

The resolution was passed under Section 199 of the Companies Act, 2017, which deals with investments in associated companies and undertakings. The terms and conditions of the investment were disclosed in the statement issued under Section 134(3) of the Companies Act, 2017.

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Earlier, on June 8, 2026, the iTANZ board had approved the proposed investment and called the Extraordinary General Meeting to seek shareholders’ consent.

Under the agreed terms, iTANZ Technologies Limited will settle the full investment amount over five years instead of making an upfront payment.

The company will become entitled to dividends from ITANZ Infinity Pty Limited from the date on which the shares are transferred.