July 15, 2026 (MLN): A paid-up share capital increase of approximately 85% has been approved by Supernet Technologies Limited (PSX: STL) through the issuance of 91,476,554 right shares at Rs10 per share, raising Rs914.77m against the existing ordinary shares held by shareholders.

The right shares will be offered in the ratio of approximately 85 shares for every 100 ordinary shares held, and will rank pari passu with existing ordinary shares. The issuance will take the company's paid-up capital from Rs1.08bn to Rs1.99bn.

Of the total proceeds, Rs464.77m (50.81%) has been allocated toward working capital to support execution of existing and upcoming business initiatives, with the objective of strengthening operational performance, liquidity position and growth prospects.

The remaining Rs450m (49.19%) will partially fund the consideration payable to Telecard Limited under the Share Purchase Agreement dated February 15, 2024 (as amended from time to time), in connection with the acquisition of a 51% shareholding in Supernet Limited.

The right issue is expected to strengthen the company's financial position by enhancing working capital availability and partially funding the outstanding consideration under the share purchase agreement, thereby improving liquidity, supporting operational growth, optimizing capital structure and contributing to long-term value creation for shareholders.

The issue is being carried out at a price significantly below the prevailing market price, with no major investment risk associated with it.

Directors and the substantial shareholder, Telecard Limited, have confirmed subscription to their respective right entitlements, while the balance portion of the issue will be underwritten in accordance with applicable laws.

No premium has been charged on the issue and no minimum subscription amount has been set. Dates for closure of the share transfer books to determine shareholder entitlements will be communicated in due course after finalization of the offer document.

The aforementioned information was disseminated through a to Exchange.