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Karachi: The Board of Directors of Supernet Limited (PSX: GEMSPNL) has authorized the company to explore a potential merger with Supernet Technologies Limited (STL), formerly known as Hallmark Company Limited. During a meeting held today at the company’s corporate headquarters, the board authorized the development of merger terms, commenced discussions with STL, and authorized feasibility studies and valuations to evaluate the viability of the proposed consolidation.
The company has also been empowered to engage legal, financial, and strategic advisors to facilitate the process. Additionally, the board has now approved the preparation of draft documents about the proposed arrangement, which will require further evaluation and approval from relevant parties. The proposed merger is a critical strategic step to consolidate operations while extending market reach and enhancing operational processes.
Supernet Limited opted to adopt this advancement after several organizational restructuring processes. Supernet Infrastructure Solutions (SuperInfra) from Supernet Limited completed a reverse merger with Hallmark Company Limited in August 2023 and renamed itself Supernet Technologies Limited. During this business transaction, SuperInfra acquired 81.4% of Hallmark’s stock, giving it complete control.
Since its establishment in 1995, Supernet Limited has been Pakistan’s leading telecommunications service provider, offering satellite and microwave communication options, as well as internet and IT infrastructure solutions to customers in banking, oil and gas, manufacturing, and government. Supernet Technologies Limited is focused on IT-enabled export services to help Pakistan’s digital economy.
