PAE to consider issuing equity shares, convertibles, nonconvertibles

By Tali Rackner

Norfolk, Va., May 15 - PAE Ltd. informed the Bombay Stock Exchange that its board of directors will meet on May 23, inter alia, to consider raising funds by issuing additional equity shares on a rights basis to the existing shareholders, convertible debentures or nonconvertible debentures.

It will also discuss the company's audited financial results for the quarter and year ended March 31 and co-opt a female director on the board.

PAE is a Mumbai-based company that markets and distributes automotive and industrial batteries in India.

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