SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 30, 2020
Commission file number: 0-22773
NETSOL TECHNOLOGIES, INC.
(Exact name of small business issuer as specified in its charter)
|(State or other Jurisdiction of||(I.R.S. Employer NO.)|
|Incorporation or Organization)|
23975 Park Sorrento, Suite 250, Calabasas, CA 91302
(Address of principal executive offices) (Zip Code)
(818) 222-9195 / (818) 222-9197
(Issuer’s telephone/facsimile numbers, including area code)
Securities registered pursuant to Section 12(b) of the Act:
|Title of each Class||Trading Symbol(s)||Name of each exchange on which registered|
Common Stock, $.01 par value per share
Item 8.01 Other Events
Effective July 30, 2020, NetSol Technologies, Inc., or the Company, Board of Directors has authorized the repurchase of up to two million dollars’ worth of the Company’s issued and outstanding common shares. The repurchase plan is authorized commencing July 30,2020, and ending December 24, 2020, subject to an additional six-month extension at the discretion of management.
Under the stock repurchase program, the Company may repurchase its common stock in the open market from time to time, in amounts, at prices, and at such times as the Company deems appropriate, subject to market conditions and federal and state laws governing such transactions. The Company expects to fund the repurchase with its existing cash balance including cash generated from operations.
This information is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|NETSOL TECHNOLOGIES, INC.|
|Date:||July 30, 2020||/s/ Najeeb Ghauri|
|Chief Executive Officer|
|Date:||July 30, 2020||/s/ Roger K. Almond|
|ROGER K. ALMOND|
|Chief Financial Officer|