Karachi April 4 2022: Telecard inform that Supernet Limited (‘SNL’), a subsidiary of Telecard Limited has been awarded Shariah Screening Certificate by Meezan Bank Limited, based on the review of consolidated financial statements of SNL, certifying its compliance with KSE Meezan Islamic Index Criteria set out by Pakistan Stock Exchange.
Meezan Bank Limited, in the capacity of Banker to the Issue for general public and book building, has reviewed the Consolidated Audited Financials Statements of Supernet Limited based on June 30, 2021. They found the said financials to be in compliance with KSE Meezan Islamic Index Criteria set out by Pakistan Stock Exchange.
On the basis of reviewed financial statements, it is allowed to participate in IPO of Supernet Limited with the provision that the investee will be required to purify its dividend income as per company’s annual dividend purification rate determined on semi-annual basis in KMIAll Share Islamic Index.
This is pertinent to highlight that the Shariah compliance status of the company’s financial statements may vary from one financial period to the other. So, this certificate shall remain valid as long as company’s latest available financial statements are for the period ended June 30, 2021.
