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The board of PAE Ltd will meet on August 1 to consider and approve allotment of 5.20 lakh share warrants convertible into equity shares to promoters after the approval of shareholders in the Annual General Meeting which is scheduled to be held on July 28. The board will also consider redemption of existing 11 per cent non-convertible, cumulative, redeemable preference shares, which were issued in 2013, 2014 and 2015 to promoters out of the proceeds of the issue of 5.2 lakh share warrants. The shares last closed at ₹8 on the BSE on July 17. Trading in the scrip is restricted due to graded surveillance measure.
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