Intimation Of Board Meeting U/R 29 Of The SEBI (Listing Obligations And Disclosures Requirements) Regulations, 2015 To Consider And Approve; 1. Allotment Of 5,20,000 Share Warrants To The Promoters Convertible Into Equity Shares. 2. Redemption Of Existing 11% Non- Convertible, Cumulative, Redeemable Preference Shares To The Promoters Out Of The Proceeds Of Issue Of 5,20,000 Share Warrants.

• Security Code: 517230
• Company: PAEL

With reference to captioned subject, we do hereby intimate your esteemed exchange that the meeting of Board of Directors of the Company is scheduled to be held on Tuesday August 1, 2017 inter-alia to transact the following business:-

1. To consider and approve allotment of 5,20,000 share warrants to the promoters convertible into equity shares as per Chapter VII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 after approval of shareholders in the Annual General Meeting which is scheduled to be held on 28.7.2017.

2. To consider redemption of existing 11% Non-Convertible, Cumulative, Redeemable Preference Shares which were issued in the year 2013, 2014 and 2015 to the promoters out of the proceeds of issue of 5,20,000 share warrants.

3. Any other matters as per request of the board.

Kindly take the above on your records.

Thanking you,