This is to inform you that the Scheme of Reduction of Share Capital of the Company is approved by the Shareholders of the Company at EGM held on 09th March, 2026.
Awaiting price reaction for this filing.
ATN International Ltd has received shareholder approval for a Scheme of Reduction of Share Capital at its EGM held on 9th March 2026, which was earlier approved by the Board on 27th February 2026. The company has accumulated losses of about Rs. 23.50 crore and a negative net worth of about Rs. 7.72 crore as of 30 September 2025. To clean up its books, the company proposes to cancel 3,86,61,000 equity shares (about 98% of existing paid-up capital), reducing paid-up capital from Rs. 15.78 crore (3,94,50,000 shares) to Rs. 31.56 lakh (7,89,000 shares) of Rs. 4 each. No money will be paid out to shareholders and shareholding percentages will remain unchanged. The scheme still needs NCLT (National Company Law Tribunal) approval before it can become effective. The stated aim is to reflect a healthier balance sheet so the company can raise fresh capital in the future.
This is not a stock split, bonus, or buyback — 98% of shares are being cancelled to absorb losses, which means each shareholder's number of shares will drop to roughly 2% of what they hold now (proportionate reduction), while percentage ownership stays the same. Share prices will need to be adjusted accordingly. The move may help the company raise future capital, but the underlying business has been loss-making for five straight years, so this is a balance-sheet fix rather than a value-creating event.