The unaudited financial statement for quarter ended on 30 june 2024 has been approved by Implementation and Monitoring Committee at its meeting held today
Awaiting price reaction for this filing.
PAE Limited's Monitoring Committee met on 14 April 2025 and approved key actions under the NCLT-approved Resolution Plan dated 27 November 2024. The committee approved cancellation and extinguishment of 100% of existing equity and preference shares held by erstwhile promoters, with existing public shareholders being reduced to just 50,000 equity shares (5% of post-restructured capital). Additionally, 9,50,000 fresh equity shares will be allotted to the new Promoter and Promoter Group at face value Rs. 10, aggregating Rs. 95 lakhs. The committee also took on record long-pending unaudited standalone financial results for Q1 (June 2024), Q2/H1 (September 2024), and Q3 (December 2024) of FY25. Revenue remained near-zero across all quarters, with continuous losses reported. The statutory auditor issued a 'Disclaimer of Opinion' citing non-availability of confirmations, records, and CoC approvals, plus absence of an internal auditor.
Existing public shareholders will face severe dilution of value — their stake collapses to just 5% of the restructured company while new promoters take 95% control. The delayed financials with auditor disclaimers indicate weak governance and financial opacity. Shareholders should expect drastic changes in shareholding pattern and listing continuity concerns; this is effectively a loss of equity for legacy public investors.