WorldCall Telecom Limited moves toward rebranding, global expansion
09-Apr-2026
MettisGlobal
April 9, 2026 (MLN): WorldCall Telecom Limited (PSX:WTL) is set
to change its name to WorldCall Technologies Limited, acquire a wholly
owned subsidiary in the United Arab Emirates (UAE), and carry out a
major balance sheet restructuring, as the Board of Directors passed a series of
sweeping resolutions at an Emergent Meeting.
The proposed rebranding reflects the company's evolving
business model and shift toward technology transformation, subject to formal
approval from the Registrar and SECP.
On the global front, the Board approved the establishment of
a 100% owned subsidiary in the UAE to handle international operations,
alongside a Share Swap Arrangement involving an exchange of the
company's ordinary shares with those of its ultimate holding company, GlobalTech
Corporation (GTC).
The Balance Sheet Restructuring, carried out under
Section 89(a) of the Companies Act, 2017, will address discounts on issued
shares and accumulated losses. The Mandatory Conversion Date of Convertible
Preference Shares (CPS) has also been extended to December 31, 2030.
In governance matters, the Board made recommendations for
the appointment of external auditors and approved an Election Scrutinizer for
the upcoming director elections.
The CEO, CFO, Company Secretary, and Directors have been
authorized to complete all necessary regulatory formalities with the SECP.
All resolutions will be presented for shareholder approval
at the upcoming Annual General Meeting,
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