Pursuant to Regulation 30 of SEBI (LODR), 2015 we are enclosing the notice of EOGM of the Company scheduled to be held on 9th March, 2026 at 1.30 PM at the Registerd office of the Company.
Awaiting price reaction for this filing.
ATN International Ltd has called an EGM on March 9, 2026 to seek shareholder approval for a massive 98% reduction in paid-up share capital to set off accumulated losses. The company's current paid-up capital is Rs. 15.78 crore (3.94 crore equity shares of Rs. 4 each), while accumulated losses stand at Rs. 23.50 crore as of September 30, 2025. Under the proposal, Rs. 15.46 crore of losses will be set off against share capital, reducing paid-up capital to just Rs. 31.56 lakh (7.89 lakh equity shares of Rs. 4 each), meaning 3.87 crore shares will be cancelled and extinguished. No cash will be paid out to shareholders — this is purely a balance sheet cleanup exercise, subject to NCLT approval. The company has been reporting losses for years, with cumulative losses growing from Rs. 22.19 crore in FY21 to Rs. 23.50 crore by mid-FY26.
Shareholders will see their share count drop to roughly 1/50th of current holdings, though no cash outflow is involved. The face value per share remains Rs. 4, but the stock price on exchanges will likely be adjusted to reflect the reduced capital base. This signals serious financial distress — the company has more losses than capital — and while it cleans up the balance sheet, it does not address the underlying business losses.