Islamabad, Jan 29: The Board of Directors of Supernet Limited (PSX: GEMSPNL) has authorized the company to initiate discussions and formulate terms for a potential merger with Supernet Technologies Limited (STL), formerly Hallmark Company Limited. The approval allows GEMSPNL to engage with STL to assess the feasibility and valuations associated with the merger. The company has also been authorized to draft necessary documents related to the proposed merger, which will later be presented for the Board’s consideration.
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As part of the process, GEMSPNL is also authorized to appoint legal, financial, and other advisors and consultants who may be required to facilitate the merger discussions and related processes.
GEMSPNL, a wholly owned subsidiary of Telecard Limited, specializes in providing satellite and microwave communication services. This potential merger with STL is part of the company’s strategy to streamline operations and enhance its service offerings in the communications sector.
