Karachi June 22 2022: NetSol Technologies Limited has completed buyback of 2.0 million shares through the Pakistan Stock Exchange on June 21 2022.
NetSol Technologies Limited Board of Directors (BoD) in their meeting held on April 11 2022 has decided to recommend to the members for their approval by passing a special resolution, the purchase/buyback of its issued ordinary shares of the company.
The number of total shares to Buy Back was 2.0 million. The shares was bought at the spot rate during the period from May 18,2022 to June 21,2022.
The purchase was made out of the distributable profits of the company using its own funds. The purchase will improve the EPS subsequent to the purchase and will also result in improved dividend. Furthermore, it will provide an opportunity for exit to those members who wish to liquidate their investments.