PAE Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 30, 2015, inter alia, has transacted the following businesses:
1. Considered and approved sale of PAE Renewables Private Limited, a Wholly Owned Subsidiary of the Company to the prospective buyer(s) / Promoter or Promoter group at the value not less than Rs. 4.85 Lacs which is backed by valuation report by an Independent Valuer on such terms and conditions as may be prescribed by board of directors.
2. Considered and approved the notice of Postal Ballot, to seek approval of members for aforementioned transaction.
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