Windows batch script to determine last folder in list of paths

I would like to read a list of paths from a file and determine each time the last folder. I have found something to start with, failed, read various threads dealing with nested for loops and variable expansions however without success. I do not get a "Last folder:" response. Anyone seeing the problem here? Any help is greatly appreciated!

External file (paths.txt):

C:\FirstFolder\NextFolder\LastFolder
C:\Somewhere\Deeper\FinallyThere
C:\Temp

Windows batch script:

@echo OFF
setLocal EnableDelayedExpansion

for /F "tokens=* eol=#" %%f in (%CD%\paths.txt) do (
    echo Get new path from file: %%f
    set mydir=%%f
    set m=%mydir:\=;%
    call :GET_SYMLINK %%m
)

setLocal DisableDelayedExpansion
goto :eof


:GET_SYMLINK
for /F "tokens=* delims=;" %%i IN (%1) DO call :LAST_FOLDER %%i
goto :eof


:LAST_FOLDER
if "%1"=="" (
    echo Last folder: %LAST%
    goto :eof
)
set LAST=%1
SHIFT
goto :LAST_FOLDER