June 05, 2026 (MLN): Telecard Limited (PSX: TELE)'s Board of Directors has approved a proposal to invest up to Rs564.12 million in a potential rights issue of its subsidiary, Supernet Technologies Limited (STL), subject to shareholder approval.

According to a submitted to the Pakistan Stock Exchange (PSX), the decision was taken through a board resolution passed via circulation on June 05, 2026, in line with Sections 96 and 131 of the Securities Act, 2015 and Clause 5.6.1 of the PSX Rule Book.

The investment is linked to STL’s planned rights issue, which the subsidiary earlier disclosed on June 1, 2026. Telecard intends to participate at a maximum subscription price of Rs10 per share.

The company clarified that the proposed investment will remain subject to necessary approvals under Section 199 of the Companies Act, 2017, including approval from Telecard’s shareholders.

An Extraordinary General Meeting (EGM) will be convened to seek the required consent, with details to be announced later.

Telecard also authorized its management to take all necessary steps to facilitate the process and ensure compliance with regulatory requirements.

The development signals continued financial support from Telecard for its subsidiary, reinforcing its strategic interest in STL’s future expansion plans.