Supernet shareholders approve Rs2 billion investment limits for associated companies

Supernet Technologies shareholders approved financial support ceilings totalling Rs2 billion for four associated businesses at the company’s annual meeting in Karachi on Wednesday, Profit by Pakistan Today reported. Each recipient can receive up to Rs500 million through options including equity, loans, guarantees and other permitted facilities. The authorisations last until the next annual general meeting and can be renewed with shareholder approval.

Shareholders also agreed to convert up to Rs372.21 million owed to Telecard into a one-year financing facility. It will carry markup at three-month KIBOR plus 2.40% annually, payable quarterly, and Supernet can make early partial or full repayments under agreed terms. The board can arrange funding from internal cash or borrowing and finalise the related documents.

The meeting approved a final dividend of Rs0.25 per share, or 2.5%, for the year ended June 30, 2026, and adopted the audited accounts. It also appointed Parker Russell, A.J.S Chartered Accountants as auditor for the year ending June 30, 2027, and authorised related-party dealings subject to oversight.