ATN International Limited Schedules EGM for Share Capital Reduction to Address Accumulated Losses

ATN International Limited has announced an extraordinary general meeting (EGM) scheduled for March 09, 2026, to seek shareholder approval for a substantial reduction in share capital aimed at addressing the company's accumulated losses. Meeting Details and Agenda The EGM will be held on Monday, March 09, 2026, at 01:30 PM at the company's registered office located at 10 Princep Street, 2nd Floor, Kolkata-700072. The primary agenda involves approving a special resolution for the reduction of share capital under Section 66 of the Companies Act, 2013. Parameter: Details Meeting Date: March 09, 2026 Time: 01:30 PM Venue: 10 Princep Street, 2nd Floor, Kolkata-700072 Meeting Type: Extraordinary General Meeting Resolution Type: Special Resolution Proposed Capital Reduction Structure The company proposes to significantly reduce its share capital to address mounting accumulated losses. The reduction involves cancelling and extinguishing a substantial portion of existing equity shares. Capital Structure: Current Post-Reduction Paid-up Capital: Rs. 15,78,00,000 Rs. 31,56,000 Number of Shares: 3,94,50,000 7,89,000 Face Value per Share: Rs. 4 Rs. 4 Shares to be Cancelled: 3,86,61,000 - Reduction Percentage: 98.00% - Financial Position and Accumulated Losses As on September 30, 2025, ATN International Limited reported total accumulated losses of Rs. 23,49,82,000. The company proposes to set off Rs. 15,46,44,000 of these losses against its paid-up capital. Financial Metric: Amount (Rs.) Total Accumulated Losses: 23,49,82,000 Proposed Set-off Amount: 15,46,44,000 Remaining Losses Post-Reduction: 8,03,38,000 Current Net Worth: (7,71,82,000) The company has been experiencing consistent losses over the past five financial years, with the most significant loss of Rs. 5,54,07,298 recorded in 2020-2021. Regulatory Approvals and Process The proposed capital reduction requires multiple levels of approval to become effective. The company must obtain consent from shareholders through a special resolution and subsequent confirmation from the National Company Law Tribunal (NCLT). Key regulatory requirements include: Shareholder approval via special resolution at the EGM NCLT confirmation under Section 66 of the Companies Act, 2013 Filing of certified copies with the Registrar of Companies Compliance with SEBI listing regulations Shareholder Impact and Voting Process The capital reduction will not involve any cash outflow to shareholders, as it represents a book adjustment to eliminate accumulated losses. The shareholding pattern and percentage holdings of existing shareholders will remain unchanged. Voting Details: Information E-voting Period: March 06-08, 2026 Cut-off Date: March 02, 2026 Record Date Closure: March 03-09, 2026 Scrutinizer: M/s. A.K Labh & Co. Shareholders can participate in the voting process through remote e-voting facilities provided by CDSL or attend the physical meeting. The company has appointed Atul Kumar Labh, Practicing Company Secretary, as the scrutinizer for the e-voting process. Strategic Rationale The management believes this capital reduction will enable the company to present a more accurate financial position and facilitate future fundraising efforts. By eliminating a significant portion of accumulated losses from the balance sheet, the company aims to improve its ability to access capital markets and financial institutions for business expansion. The proposed scheme does not envisage any transfer of properties or liabilities and will not adversely affect creditors' interests, as no payments are involved in the capital reduction process. Source: Amit International Limited has scheduled a board meeting for February 12, 2026, to review and approve its unaudited financial results for the third quarter of fiscal year 2026. The company issued the meeting notification on February 2, 2026, in accordance with regulatory requirements. Meeting Details and Agenda The board meeting is scheduled for Thursday, February 12, 2026, at 4:00 p.m. The primary agenda includes consideration and approval of the company's unaudited financials for the quarter ended December 31, 2025. The meeting details are outlined below: Parameter: Details Meeting Date: February 12, 2026 Meeting Time: 4:00 p.m. Primary Agenda: Q3FY26 Unaudited Financials Quarter End: December 31, 2025 Regulatory Compliance The meeting notification has been issued pursuant to Regulation 29(1) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed companies to inform stock exchanges about board meetings where financial results will be considered. Additional Business Matters The board agenda also includes provisions for addressing any other business matters that may arise during the meeting, subject to the chairperson's permission. This standard clause allows the board flexibility to discuss urgent matters that may require immediate attention. Company Leadership The meeting notification was signed by Kirti Doshi, Managing Director of Amit International Limited, who holds Director Identification Number (DIN) 01964171. The company is incorporated under the Corporate Identification Number L17110MH1994PLC076660 and operates from its registered office in Mumbai. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians. 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