WorldCall Telecom Limited (WTL) has converted 24,100 of its preference shares into 297,035,881 ordinary shares in response to conversion notices received from its preference shareholders.

The price used for the conversion shall be 60% of the last 90 days’ volume weighted average price of the ordinary shares of the company which comes out to be Rs 2.13 per share, resulting in a conversion price of Rs 1.28 per share after the application of the relevant discount on conversion of preference shares into ordinary shares.

The above calculation has been mandated by the company’s articles of association.

PSX notification

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