Annual Disclosure under Regulation 31 (4) of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011.
Awaiting price reaction for this filing.
PAE Ltd has informed BSE that it cannot provide the annual promoter disclosure required under SEBI's Takeover Regulations because the company currently has no promoters. The company went through the Corporate Insolvency Resolution Process (CIRP), and the NCLT Mumbai approved its Resolution Plan on November 27, 2024. As part of this plan, the old promoters were suspended. The shareholding pattern still shows old promoter shares on record, but the company is in the process of cancelling and extinguishing those shares, reducing existing public shareholders' shares proportionately, and issuing fresh shares to new promoters via a preferential issue. As of March 31, 2025, promoter holding stands at 0%.
This is a procedural filing explaining the unusual situation of having no promoters on record. Once the share cancellation and preferential allotment to new promoters is completed, the shareholding structure will change significantly — existing public shareholders will see their holdings reduced proportionally, and new promoters will come on board. Shareholders should watch for further updates on the timeline of these corporate actions.