PAE : Disclosure under SEBI Takeover Regulations

PRIYADARSHANI A DOSHI

2 A Windcliffe,

50-D, Peddar Road, Mumbai 400 026. India.

E-mail: [e-mail]

Mobile: [phone]

Date: 17th March, 2022
National Stock Exchange of India Ltd.	(Scrip ID - PAEL)
Exchange Plaza, Plot No. C/1,
Block - G, Bandra-Kurla Complex,
Bandra (E) Mumbai - 400051
Fax No. [phone] / 8238 / 66418124 / 8125
BSE Limited	(Scrip Code - 517230)
(Formerly Bombay Stock Exchange Ltd.)
Floor 25, P.J. Towers,
Dalal Street, Mumbai -- 400001
Fax No. [phone]

Sub: Submission of Disclosure required under Regulation 10(5) of the SEBI (SAST) Regulations, 2011

Dear Sir/Madam,

I hereby submit the disclosure as required under Regulation 10(5) of the SEBI (SAST) Regulations, 2011 for acquisition of 27,50,000 equity shares of of the Company, by way of purchase through Open Market under Block Deal, from Pratibha A. Doshi, Arvind R. Doshi and Pritam A. Doshi, being a part of Promoter Group of PAE Ltd., details of which are enclosed herewith.

Please note that this transaction, being inter-se transfer of shares amongst the Promoters of the Company, falls within the exemption provided under Regulation 10(1)(a)(ii) of the SEBI (SAST) Regulations, 2011. The Aggregate holding of Promoter and Promoter Group before and after the above inter-se transaction remains the same.

Kindly take the same on your record and acknowledge the receipt of the same.

Thanking You,

Yours faithfully,

PRIYADARSHANI A DOSHI

Encl: As above.

Copy to:

PAE Ltd.

C/o Regus, Level 1,

Block A, Shivsagar Estate,

Dr. Annie Besant Road, Worli

Mumbai 400 018

Format for Disclosures under Regulation 10(5) - Intimation to Stock Exchanges in respect of acquisition under Regulation 10(1)(a) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011

1.	Name of the Target Company (TC)		PAE Limited
2.	Name of the acquirer(s)			Priyadarshani A. Doshi
3.	Whether the acquirer(s) is/ are promoters of the
	TC prior to the transaction. If not, nature of	Yes
	relationship or association with the TC or its
	promoters
4.	Details of the proposed acquisition
	a.	Name of the person(s) from whom shares are	Pratibha A. Doshi, Arvind R. Doshi,
			to be acquired			Pritam A. Doshi
	b.	Proposed date of acquisition		24/03/2022
	c.	Number of shares to be acquired from each	10,00,000 shares from Pratibha A. Doshi
			person mentioned in 4(a) above		7,75,000 shares from Arvind R. Doshi
							9,75,000 shares from Pritam A. Doshi
	d.	Total shares to be acquired as %	of share	26.39%
			capital of TC
	e.	Price at which shares are proposed to be	Prevailing Market Price
			acquired
	f.	Rationale, if any, for the proposed transfer	Re-organising Investments
5.		Relevant sub-clause of regulation 10(1)(a) under	Regulation 10(1)(a) (ii) of
	which the acquirer is exempted from making open	SEBI (SAST) Regulations, 2011
	offer
6.	If, frequently traded, volume weighted average	Rs. 6.32
	market price for a period of 60 trading days
	preceding the date of issuance of this notice as
	traded on the stock exchange where the maximum
	volume of trading in the shares of the TC are
	recorded during such period.
7.	If in-frequently traded, the price as determined in	N.A
	terms of clause (e) of sub-regulation (2) of
	regulation 8.
8.	Declaration by the acquirer, that the acquisition	Yes
	price would not be higher by more than 25% of
	the price computed in point 6 or point 7 as
	applicable.
9.	Declaration by the acquirer, that the	transferor	Yes
	and transferee have complied / will comply with
	applicable disclosure requirements in Chapter V
	of	the	Takeover	Regulations,	2011
	(corresponding provisions of the repealed
	Takeover Regulations 1997)
10.	Declaration by the acquirer that all the conditions	Yes
	specified under regulation 10(1)(a) with respect to
	exemptions has been duly complied with.

11.	Shareholding details	Before the	After the
				proposed	proposed
				transaction	transaction
				No. of	% w.r.t	No. of	% w.r.t
				shares	total	shares	total
				/voting	share	/voting	share
				rights	capital of	rights	capital
					TC		of TC
	a	Acquirer(s) and PACs (other than sellers)	100	0.00%	27,50,100	26.39%
	b	Seller (s)	15,69,656	15.06%	5,69,656	5.47%
		(i)	Pratibha A. Doshi
		(ii)	Arvind R. Doshi	26,03,038	24.98%	18,28,038	17.54%
		(iii)	Pritam A. Doshi	1368,372	13.13%	3,93,372	3.78%

Place: Mumbai

Date: 17/03/2022

Priyadarshani A. Doshi