WTL gets Lahore High Court nod for capital reduction, stock split

July 31, 2026 (MLN): WorldCall Telecom Limited (PSX:WTL) has set revised Book Closure dates from August 08, 2026, to August 09, 2026 (both days inclusive), to implement a Court-sanctioned capital restructuring.

Under the Order issued by the Hon'ble Lahore High Court on July 08, 2026, the company is executing a composite recapitalization exercise that involves a 90% reduction of its paid-up ordinary share capital followed immediately by a consequential 1-to-10 stock split.

Due to operational limitations within the Central Depository System, the Central Depository Company of Pakistan Limited will process this single Court-approved transaction in two sequential stages: first reducing holdings by 90% to cancel capital lost or unrepresented by available assets, and then subdividing each remaining share into ten ordinary shares of Re. 1/- each.

Following the split, each shareholder's total number of ordinary shares will remain unchanged, with no ex-price market adjustments or new securities being issued.

The operational execution within the depository system requires fixing Friday, August 07, 2026, as the Entitlement Date to accurately determine beneficial ownership prior to the book closure.

To ensure smooth completion of the two-step processing by the CDC and NCCPL, trading in the company's ordinary shares will be suspended on the Entitlement Date, and any trades executed on that day will settle on a T+0 basis.

The restructuring represents an internal balance-sheet reorganization aimed at rationalizing equity and eliminating accumulated impairments without altering the fundamental economic interests of the shareholders.

To handle fractional entitlements generated during the 90% capital reduction, the Court-sanctioned scheme strictly prohibits the crediting of fractional shares in the depository system.

If the capital reduction produces a whole number with a fraction, only the whole shares will be credited before applying the stock split.

In cases where the reduction leaves a balance of less than one full share, the shareholder will be allocated one full ordinary share under the approved minimum one-share rule before the 10-for-1 sub-division takes place, ensuring minor variations in final holdings arise solely from these court-approved fractional provisions.

The aforementioned information was disseminated through a notification to Exchange.

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