US-based GTC takes helm as Worldcall's holding firm

May 08, 2024 (MLN): Global Tech Corporation (GTC), a US-based company and now the holding company of Worldcall Telecom Limited (WTL), has commenced trading on NASDAQ under the symbol "GLTK."

WTL was informed of this development today by Worldcall Services (Pvt) Limited (WSL).

The company stated that with the commencement of trading of GTC, all terms and conditions mentioned in the plan and agreement of reorganization have been successfully completed.

GLTK now stands as the holding company of WTL as the company's majority shareholders, WSL and Ferret Consulting F.ZC (Ferret), have consolidated their holding into GLTK.

WTL’s US Entity GlobalTech Corporation receives symbol for NASDAQ

WTL further clarified that WSL and Ferret continue to remain the shareholders of WTL without any change in their respective shareholdings and the ultimate beneficial ownership of WTL also remains the same.

With the achievement of the above milestone, WTL shall benefit from access to international capital markets.

It is to be noted that GLTK expects to raise a minimum of $5 million to a maximum of $10m.

Moreover, funds made available to WTL would substantively accelerate technology transformation through fiber-to-the-home (FTTH) roll-out and commercial launch of IT solutions for domestic and international markets.

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