Shareholders of Itanz Technologies Limited (PSX: ITANZ) have approved an investment of up to AUD 21.857 million (approximately Rs. 4.344 billion) to acquire a 51 percent equity stake in Australia-based ITANZ Infinity Pty Limited, the company informed the Pakistan Stock Exchange (PSX).
The approval was granted during the company’s Extraordinary General Meeting (EOGM) held on June 27, 2026, at the LSE Auditorium in Lahore, with shareholders also participating through a video link facility.
The resolution was passed under Section 199 of the Companies Act, 2017, which governs investments in associated companies and undertakings. The investment terms were disclosed in the statement issued under Section 134(3) of the Companies Act.
Earlier this month, on June 8, the company’s Board of Directors had approved the proposed investment and called the EOGM to seek shareholders’ approval.
Under the approved arrangement, ITANZ will pay the investment amount over five years rather than a lump-sum upfront payment. The company will also become eligible to receive dividends from ITANZ Infinity Pty Limited from the date the shares are transferred.
The investment comes shortly after ITANZ secured a $3.5 million telecom technology contract in the Middle East.
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