WorldCall Telecom Announces Major Rebranding and UAE Expansion Plan

WorldCall Telecom Limited has announced a series of major decisions that signal a new direction for the company’s future. WorldCall Telecom proposed rebranding, plans for international expansion, and a significant restructuring of its financial position. The decisions were made during an emergent meeting of the company’s Board of Directors and will now move forward for regulatory and shareholder approval.

One of the most notable developments is the company’s plan to change its name to WorldCall Technologies Limited. This shift reflects a broader transformation in the company’s business strategy. Instead of focusing only on traditional telecom services, the company appears to be positioning itself as a technology-driven organization. The new name is intended to better represent its evolving role in the digital and technology sector. However, this change will only take effect after receiving approval from regulatory authorities, including the Securities and Exchange Commission of Pakistan.

WorldCall Telecom Announces Major Rebranding and UAE Expansion Plan

Alongside the rebranding, the company is also preparing to expand its operations beyond Pakistan. The Board has approved the creation of a wholly owned subsidiary in the United Arab Emirates. This new entity will manage international operations and help the company explore opportunities in global markets. Expanding into the UAE is seen as a strategic move, as the region serves as a key hub for business and technology. By establishing a presence there, the company aims to strengthen its global footprint and attract new partnerships.

Another important decision involves a share swap arrangement with its ultimate holding company, GlobalTech Corporation. Under this plan, WorldCall’s ordinary shares will be exchanged for those of GlobalTech Corporation. This move is expected to streamline the company’s ownership structure and align it more closely with its parent organization. Such arrangements are often used to improve efficiency and support long-term growth strategies.

The company is also taking steps to improve its financial health through a balance sheet restructuring. This process will be carried out under Section 89(a) of the Companies Act, 2017. The goal is to address issues such as accumulated losses and discounts on issued shares. By reorganizing its financial structure, the company hopes to create a more stable foundation for future growth. In addition, the deadline for converting its Convertible Preference Shares has been extended to December 31, 2030, providing more flexibility in managing its financial obligations.

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In terms of governance, the Board has made several key decisions to ensure transparency and accountability. Recommendations have been made for the appointment of external auditors, and an election scrutineer has been approved for the upcoming director elections. These steps are important for maintaining strong corporate governance practices and building investor confidence.

The company’s leadership, including the CEO, CFO, Company Secretary, and Directors, has been authorized to complete all necessary regulatory procedures. Final approval for these changes will be sought at the next Annual General Meeting, where shareholders will have the opportunity to review and vote on the proposals.

Overall, these developments highlight a significant transformation for WorldCall. With a new identity, international ambitions, and a stronger financial strategy, the company is aiming to reposition itself for long-term success in a rapidly changing technology landscape.