ATN International Limited has informed the Exchange about Scheme of Arrangement
Awaiting price reaction for this filing.
ATN International Limited has informed the exchanges that its shareholders have approved a Scheme of Reduction of Share Capital under Section 66 of the Companies Act, 2013 at an EGM held on March 9, 2026, following Board approval on February 27, 2026. The company has accumulated losses of about Rs. 23.50 crore and a negative net worth of Rs. 7.72 crore as of September 30, 2025. To clean up its balance sheet, the paid-up capital will be reduced from Rs. 15.78 crore (3,94,50,000 shares of Rs. 4 each) to Rs. 31.56 lakh (7,89,000 shares of Rs. 4 each), effectively cancelling 3,86,61,000 shares — a 98% cut. The percentage ownership of every shareholder will remain unchanged, and no money will be paid out to shareholders. The scheme still requires NCLT sanction before it becomes effective.
Shareholders will see their share count drop sharply (roughly 50 shares becoming 1) but their proportional ownership stays the same, so the move is mostly cosmetic for portfolio value. The real signal is that the company is financially stressed with heavy accumulated losses and is restructuring its books to be able to raise fresh capital in the future.