PAE Ltd decides against rights issue

The Board of Directors of PAE Ltd at its meeting held on May 23, 2014, has appointed Dr. Mrs. Pratibha A. Doshi as Non- Executive Director on the Board of the Company.

The Board decided not to raise funds through further issue of shares by Rights Issue or by issuing convertible or non-convertible debentures and decided to redeem the existing 11% Non-Convertible, Cumulative Redeemable Preference shares by giving 21 days notice.

The Board approved proposal to issue 11% Optionally Convertible, Cumulative Redeemable Preference Shares subject to approval of Shareholders at the Annual General Meeting.

Shares of PAE LTD. was last trading in BSE at Rs.8.5 as compared to the previous close of Rs. 8.43. The total number of shares traded during the day was 5509 in over 24 trades.

The stock hit an intraday high of Rs. 8.85 and intraday low of 8.11. The net turnover during the day was Rs. 48285.

Source : Equity Bulls

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