WorldCall Telecom Limited moves toward rebranding, global expansion

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,  the company's filing on PSX revealed today.

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