WorldCall Telecom Limited is moving forward with a series of strategic initiatives including a proposed rebranding, international expansion and financial restructuring, as part of its transition toward a technology driven business model. The company plans to change its name to WorldCall Technologies Limited, reflecting a broader shift in its operational focus beyond traditional telecom services. The proposal remains subject to regulatory approvals from the Registrar and Securities and Exchange Commission of Pakistan, and will also be presented to shareholders for approval at the upcoming annual general meeting.
As part of its global strategy, the board has approved the establishment of a wholly owned subsidiary in the United Arab Emirates to oversee international operations. The move is aimed at expanding the company’s footprint beyond Pakistan and tapping into new markets. In addition, the board has endorsed a share swap arrangement involving the exchange of ordinary shares with its ultimate holding company, GlobalTech Corporation, signalling closer alignment with its parent entity as part of the broader transformation plan.
The company has also outlined a comprehensive balance sheet restructuring under the Companies Act 2017 to address accumulated losses and discounts on issued shares. As part of these measures, the mandatory conversion date of convertible preference shares has been extended to December 31, 2030, providing additional flexibility in managing its financial structure. These steps are intended to strengthen the company’s financial position while supporting its long term growth strategy in a competitive and evolving telecom and technology landscape.
In governance related developments, the board has recommended the appointment of external auditors and approved the selection of an election scrutiniser for upcoming director elections. Senior management, including the chief executive officer, chief financial officer and company secretary, have been authorised to complete all necessary regulatory formalities with the Securities and Exchange Commission of Pakistan. The proposed changes, once approved, are expected to mark a significant phase in the company’s evolution as it seeks to reposition itself within Pakistan’s digital and technology ecosystem.
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