PAE Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 14/04/2025 ,inter alia, to consider and approve The Stock Exchange is hereby intimated ....
Awaiting price reaction for this filing.
PAE Ltd has informed BSE that its Board of Directors will meet on 14th April 2025 to implement the Resolution Plan approved by NCLT Mumbai on 27th November 2024 under the Insolvency and Bankruptcy Code. The Board will consider cancelling and extinguishing 100% of the company's presently outstanding equity and preference shares. It will also consider allotting 50,000 fresh equity shares to existing public shareholders and 9,50,000 equity shares to the Promoter and Promoter Group under the approved Resolution Plan. The company noted its website is still under development, so the intimation could not be uploaded there.
This is a major dilution event for existing public shareholders — their holdings will be cancelled and they will receive only a small fraction (about 5%) of the new equity base, while the Promoter Group will hold the dominant stake (~95%) post-resolution. Existing shareholders are likely to see a sharp loss in the value of their holdings, and the stock may react negatively.