Senate Panel Approves Virtual Assets Bill 2025
February 26, 2026
Sindh High Court has cleared the merger of Supernet Limited into Supernet Technologies Limited.
The Sindh High Court has sanctioned a scheme of arrangement approving the merger of Supernet Limited (SNL) into Supernet Technologies Limited (STL), both subsidiaries of Telecard Limited, according to filings submitted to the Pakistan Stock Exchange (PSX).
The approval was granted through an order dated February 24, 2026, in J.C.M. No. 24 of 2025. The merger has been made effective retrospectively from January 1, 2025.
The consolidation is part of a wider corporate and capital restructuring initiative undertaken earlier this year. In line with the court-approved framework and relevant provisions of the Companies Act, 2017, SNL’s operations will now be fully absorbed into STL.
Under the arrangement, STL will issue ordinary shares to eligible shareholders of SNL. The record date to determine shareholder entitlements will be announced by the company’s board in due course.
With the merger now sanctioned, all assets, liabilities and contractual obligations of Supernet Limited stand transferred to and vested in Supernet Technologies Limited. The companies have said shareholders will be notified of subsequent developments as implementation progresses.
