WorldCall plans UAE expansion with wholly owned subsidiary

WorldCall Telecom Limited has announced a series of restructuring and expansion measures, including a proposed name change, international expansion and balance sheet adjustments, following an emergent board meeting held on April 8, 2026.

According to a notice submitted to the Pakistan Stock Exchange on Thursday, the board approved plans to acquire a wholly owned subsidiary in the United Arab Emirates (UAE) to manage overseas operations, subject to regulatory approvals. 

The board recommended changing the company’s name to WorldCall Technologies Limited, subject to approvals from the Securities and Exchange Commission of Pakistan and other relevant authorities.

It also proposed a share swap arrangement with GlobalTech Corporation, the company’s ultimate holding entity, in compliance with applicable regulations.

The board also approved a balance sheet restructuring under Section 89(a) of the Companies Act, 2017, aimed at adjusting discounts on issued shares and accumulated losses. The restructuring will require approvals from relevant regulatory and legal authorities.

In addition, the company decided to extend the mandatory conversion date of its Convertible Preference Shares to December 31, 2030, along with related approvals.

On governance matters, the board recommended the appointment of external auditors and approved the selection of a scrutineer to oversee the upcoming election of directors.

The board authorised the chief executive officer, chief financial officer, company secretary and directors to complete all regulatory filings and statutory formalities, including amendments to the memorandum and articles of association, where required.

The proposals will be presented for shareholder approval at the company’s upcoming annual general meeting.