WorldCall Telecom Limited has announced the implementation of a Lahore High Court-approved capital restructuring plan, marking a significant step in the company’s efforts to realign its capital structure with its financial position. The revised notification, dated July 28, 2026, outlines the operational process for executing the restructuring through the Central Depository Company (CDC), National Clearing Company of Pakistan Limited (NCCPL), and Pakistan Stock Exchange (PSX).
The restructuring follows the Lahore High Court’s order issued on July 8, 2026, which confirmed special resolutions approved by shareholders during the company’s 26th Annual General Meeting held on April 30, 2026. The approved plan includes a reduction in paid-up ordinary share capital, a consequential stock split, and changes to the company’s authorized share capital.
Under the restructuring, WorldCall will reduce its paid-up ordinary share capital by approximately 90% by cancelling the portion of capital that is no longer represented by available assets. Immediately afterward, each remaining ordinary share with a face value of Rs.10 will be subdivided into ten ordinary shares with a face value of Re.1 each. The company emphasized that these two steps are part of a single court-sanctioned restructuring exercise rather than separate corporate actions.
WorldCall clarified that the two-stage implementation is purely an operational requirement of the Central Depository System (CDS) and does not alter the legal nature of the restructuring. The company stated that the capital reduction became legally effective on July 8, 2026, while the operational execution will follow a specific timetable coordinated with CDC and NCCPL.
The company has fixed Friday, August 7, 2026, as the entitlement date for shareholders eligible to participate in the restructuring. Book closure will take place on August 8, 2026, while trading in WorldCall shares will remain suspended on the same day to facilitate the implementation process. Trades executed on the entitlement date will be settled on a T+0 basis to ensure accurate determination of eligible shareholders.
To avoid confusion in the market, WorldCall has requested that no ex-price adjustment be made solely because of the operational sequencing of the restructuring. The company further stated that no new securities are being issued, no assets are being distributed to shareholders, and the restructuring does not transfer economic value between different classes of shareholders. Instead, it represents an internal recapitalization designed to strengthen the company’s balance sheet.
The revised plan also updates the company’s authorized share capital to Rs.21 billion, divided into 19.8 billion ordinary shares of Re.1 each and 100,000 preference shares with a face value of US$100 each. Relevant regulatory authorities, including CDC, NCCPL, and PSX, have been requested to update their systems and records accordingly.
According to the company, the restructuring has been approved under the Companies Act, 2017, following confirmation by the Lahore High Court after the Securities and Exchange Commission of Pakistan (SECP) raised no objection to the proposed changes. WorldCall believes the recapitalization will better reflect its underlying financial position while ensuring compliance with applicable legal and regulatory requirements.
