Notice of 75th Annual General Meeting to be held on 7th March 2026 has been attached herewith.
Awaiting price reaction for this filing.
PAE Limited has notified its 75th AGM to be held on March 7, 2026 via video conferencing. Shareholders will consider adoption of FY25 audited financial statements and the re-appointment of Mr. Nimeshkumar Ganpatbhai Patel as director. Key special business items include appointment of three new independent directors (Mr. Akash Patel, Ms. Bhargavi Gupta, Mr. Mayank Sedani), appointment of new statutory and secretarial auditors for five-year terms, and appointment of Mr. Pinalkumar Kalidas Patel as Executive Director. Major corporate changes proposed include changing the company name to AURIQUE Limited, shifting the registered office from Maharashtra to Gujarat, increasing authorized share capital from ₹25 crore to ₹27.48 crore, and adopting new MOA and Articles of Association. The company also seeks shareholder approval to enhance borrowing limits under Section 180(1)(c) and Section 186 to ₹5,000 crore each, borrow ₹100 crore unsecured loan from Director Mr. Jatinbhai Patel (with equity conversion option), and issue equity shares on a preferential basis.
This AGM packs several strategic changes — rebranding to AURIQUE, relocation to Gujarat, and a major hike in borrowing power to ₹5,000 crore — suggesting the company is positioning for significant business expansion or diversification into FMCG, agriculture, and food processing. Shareholders should watch the preferential allotment resolution (item 18) and the director loan with equity conversion feature, as both could lead to equity dilution. The shift from Maharashtra to Gujarat and the name change may signal a broader corporate restructuring.