Karachi April 11 2022: NetSol Technologies Limited Board of Directors (BoD) in their meeting held today 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 will be 2.0 million. The shares will be bought at the spot rate during the period from May 18,2022 to August 15,2022 or till such date purchase is complete.
The purchase will be 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.
The Board of Directors has decided to convene an Extra Ordinary General Meeting (EOGM) of the company on May 10, 2022 to seek members approval of the proposal to Purchase shares by passing a special resolution.