YEAR EVENTS 1950 - The Company was Incorporated on 13th July, at Mumbai as a wholly owned subsidiary of The Premier Automobiles Ltd. (PAL). Since its incorporation, the Company had been carrying on trading activities in automobile products, servicing of cars and fitting of airconditioners in automobiles. Consequent to the public issue of equity shares during February 1990, the Company ceased to be a subsidiary of PAL. - The Company's object is to manufacture steering wheels, dashboards, bumpers, seats etc., trading and marketing automotive products, servicing of cars and fitting of airconditioners in automobiles. 1983 - Initially 5,000 shares were issued all of which were allotted to Premier Automobiles Ltd. and its nominees. Since then 17,500 bonus shares issued as under: 5,000 shares in prop. 1:1 in 1966; 5,000 shares in prop. 1:2 in 1973 and 7,500 shares in prop. 1:2 in 1980. 1986 - Turnover only rose marginally to Rs.16.72 crores due to sluggish market conditions and internal problems in one of the major suppliers factory, viz., International Instruments, Ltd. 1988 - The Company undertook a project to manufacture polyurethane components such as steering wheels, seats, bumpers etc. for use in automobiles. The plant was set up at Halol with technical collaboration from `Engineering Services (Urethanes) Ltd., U.K. using a technology called Reaction Injection Moulding. 1989 - Equity shares subdivided during Sept./Oct. 2,25,000 bonus shares of Rs.10 each issued in November, in prop. 1:1. 1990 - The objects of the public issue of equity share in February were to raise resources required for working capital and also to list the shares on various stock exchanges. - 25,50,000 shares issued (prem. of Rs.2/- per share) of which 7,50,000 shares as rights in prop. 5:3 (all were taken up) and 1,27,500 shares on pref. basis to employees (including Indian working directors)/workers of the Company (only 79,800 shares taken up). The balance 16,72,500 shares, alongwith 47,700 shares not taken up by employees were offered to the public in Feb. Additional 3,82,500 shares were allotted to retain over-subscription (1,12,500 shares as rights and 2,70,000 shares to public). 1992 - 16,91,250 rights shares issued (prem. Rs.25 per share; prop. 1:2) Another 39,900 shares allotted to employees (prem. Rs.25 per share). 1993 - The company introduced several new lines for marketing. - On 11th June, the Company signed a Memorandum of Understanding with Best & Crompton Engineering Ltd., to purchase the plant and machinery and knowhow to manufacture starter motors and alternators, and their parts for automobiles. The Company was also permitted to use the brand name `BEACON' for a period of 30 months. 1994 - The Company also launched auto electrical spare parts under the brand name of PAE. - 6,50,000 shares (prem. Rs.115) and 1,00,000 shares (prem. Rs.116.25) allotted to FFIs, Mutual Funds, FIs on private placement basis. 1995 - The Company has issued 7,50,000 No. of Equity Shares of Rs.10/- each to Foreign Institutional Investors, Financial Institutions, Mutual Funds, Banks and other Bodies Corporate on private placement basis for an aggregate amount of Rs.938.75 lacs. 1996 - The Company has tied up with PAL Peugeot Ltd., Manufacturers of Peugeot 309, 118 NE & 1.38D cars for distributing their spare parts. - The Company has allotted 4,82,750 No. of Equity Shares of Rs.10/- each, at a premium of Rs.100/- per Equity Share to The Premier Automobiles Ltd. - The Company once again has been given "Pl " rating for the Commercial Paper and "FAA" rating for the Fixed Deposit Scheme by CRISIL. 1997 - The Company has received ISO 9002 Certification from RWTUV, Germany during the year. - Premier Auto Electric, a wholly owned subsidiary of Premier Automobiles Ltd. has tied up with Loctite India to market its Permatex range of automotive maintenance products all over the country. 1999 - The Company has introduced quite a few new products and has also launched some products in its own brand name PRIYA". - The Company entered into a Tripartite Agreement with National Securities Depository Ltd. (NSDL) on 12th July. 2000 - Crisil has downgraded the company rating from `FA' to `FA' for its FD scheme effective from 2nd March. - The Company has appointed Mr. Dilip Thakkar and Mr.Pritam A. Doshi Directors. 2001 - Crisil downgraded Premier Auto Electric Ltd.'s fixed deposits programme from FA- to FB . 2002-Premier Auto Electric Ltd has informed that Shri Vinod L Doshi and Shri Maitreya V Doshi have resigned from the Board of Directors of the Company with effect from November 28, 2002. 2003 -Name of the Company has been changed from 'Premier Auto Electric Limited' to 'PAE LIMITED' 2005 -The trading symbol of the company be changed from PREMAUTOEL to PAEL. 2007 -The Company shifted registered & Corporate Office at 69, Tardeo Road, Mumbai 400034 -Pae Limited has appointed Ms. Smitha Singh as Company Secretary and Compliance Officer. -The Company has recommended final dividend of 10% on the equity shares. 2008 -The Company recommended a dividend of 15% for the year. 2009 -The Company has recommended a dividend of Rs 1.50 per equity share of Rs 10/- each (15%) for the year. -EuroTest Laboratory S.r.l (TUV Intercert) has awarded Shurjo Energy Private Limited the PAE Limited's subsidiary, Company International Electrotechnical Commission ("IEC") certification of its solar modules utilizing Copper Indium Gallium diSelenide ("CIGS") technology. 2010 -PAE - enters into Distribution Agreement with Schneider Electric India Private Limited for the distribution of the Xantrex range of products in India. -PAE Limited invests in PAE Renewables Pvt. Ltd. a Renewable Energy Solutions Company. -The Company has recommended a dividend of Rs.1.85 per equity share of Rs.10/- each (18.50%) for the year 2011 -PAE Limited incorporates a new company namely PAE Infrastructure Private Limited as its subsidiary company. -The Company recommended a dividend of Rs. 1.25 per equity share of Rs. 10/- each (1.25%) for the year.