NetSol Technologies to Commence Trading on the Dubai International Financial Exchange (DIFX) on June 16
NetSol Dual Listed Shares Will Trade on the DIFX Under the Trading Symbol "NTWK"
CALABASAS, CA -- (MARKET WIRE) -- 06/16/08 -- NetSol Technologies Inc. ("NetSol") (NASDAQ: NTWK) (DIFX: NTWK), a worldwide provider of global business services and enterprise application solutions, announced today that it is scheduled to commence trading of its dual-listed common shares on the Dubai International Financial Exchange (DIFX) on Monday, June 16, 2008. NetSol will trade on the DIFX under the symbol "NTWK", complementing the Company's current listing on the NASDAQ Capital Market.
"It is with great excitement that we look to initiate trading of NetSol common shares on the DIFX. Our dual listing on the DIFX, the first by a U.S. company, represents an important milestone in our corporate history and supports NetSol's strategic mission to further expand our brand visibility and investor base in the United Arab Emirates (UAE) and the broader Middle East region. Parallel to the dynamic growth we are seeing the in region, NetSol seeks to become a market leader in the region's lease and asset-based financial software market as well as a major provider of Global Business Services to the region," said Mr. Najeeb Ghauri, chairman and chief executive officer of NetSol Technologies. "I would also like to thank Unicorn Consulting Inc., a GCC/UAE business advisory firm who helped organize strategy and logistics in Dubai. I would also like to especially thank Joe Jaigobind formerly of Maxim Group, now at Rodman & Renshaw, for his counsel and guidance in helping us move successfully through the DIFX listing process."
Per E. Larsson, chief executive of the DIFX, stated, "As a high technology company, NetSol is a significant addition to the opportunities for regional investors on the DIFX."
"By creating NASDAQ OMX we are now able to offer listing opportunities in the U.S., Europe and Middle East. We are very pleased that as a NASDAQ listing company Netsol Technologies has chosen to expand their presence to additional NASDAQ OMX markets. We hope that more companies will follow Netsol Technologies' example in order to attract investors on a global scale," stated Bruce Aust, Executive Vice President of NASDAQ OMX Corporate Client Group.
NetSol Technologies will hold a reception and press conference at the Dubai International Financial Centre (DIFC) in Dubai the morning of June 16, 2008 to correspond with the initiation of trading on the DIFX.
NetSol has engaged Computershare Limited ("Computershare"), a leading financial market services and technology provider for the global securities industry, to help facilitate the transfer of shares between the U.S. and Dubai markets. Market participants may utilize Computershare's unique xSettle web-based service to expedite cross-border settlement between the two markets.
To take full advantage of Computershare's global reach, NetSol has also appointed Computershare as its new US Transfer Agent, to be effective in the coming weeks. For more details please visit Computershare's corporate website at www.computershare.com, or contact Computershare's global transaction unit:
Phone: 877-624-5999 (Toll free) or 781-575-4086 (Local)
About Dubai International Financial Exchange (DIFX)
The DIFX is the international financial exchange serving the region between Western Europe and East Asia. It welcomes local as well as global issuers that seek regional and international investment. The exchange currently lists shares, structured products, Sukuk (Islamic bonds), and conventional bonds.
The DIFX opened in September 2005 and currently has 22 Members -- ABN AMRO, Arbuthnot Securities, Barclays Capital, Citigroup, Credit Suisse, Daman Securities International, Deutsche Bank, EFG-Hermes, Gulf National Securities Centre International, Hichens, Harrison & Co, HSBC, ING Bank NV, Jefferies International, J.P. Morgan Securities, KAS BANK, MAC Capital, Morgan Stanley, Merrill Lynch, Mashreq Capital (DIFC), NBD Investment Bank, SHUAA Capital, and UBS.
The majority shareholder of the DIFX is Borse Dubai with a two-thirds stake. NASDAQ OMX Group owns one third of the stake. The regulator of the DIFX is the Dubai Financial Services Authority (DFSA). The DIFX is located in the Dubai International Financial Centre (DIFC).
For more information, visit www.difx.ae
Computershare (ASX: CPU) is a global leader in share registration, employee equity plans, proxy solicitation and other specialized financial, governance, and communication services. Many of the world's largest companies employ our innovative solutions to maximize the value of their relationships with investors, employees, customers, and members. Computershare has approximately 10,000 employees across the world and serves 14,000 corporations and 100 million shareholders and employee accounts in 17 countries across five continents.
For more information, visit www.computershare.com
NetSol Technologies (NASDAQ: NTWK) (DIFX: NTWK) is a worldwide provider of global business services and enterprise application solutions. NetSol uses its BestShoring(TM) practices and highly-experienced resources in analysis, development, quality assurance, and implementation to deliver high-quality, cost-effective solutions. Organized into specialized practices, these product and services offerings include portfolio management systems for the financial services industry, consulting, custom development, systems integration, and technical services for the global Healthcare, Insurance, Real Estate, and Technology markets. NetSol's commitment to quality is demonstrated by its achievement of the ISO 9001, ISO 279001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Level 5 assessments, a distinction shared by fewer than 100 companies worldwide. NetSol Technologies' clients include Fortune 500 manufacturers, global automakers, financial institutions, technology providers, and governmental agencies. Headquartered in Calabasas, California, NetSol Technologies has operations and offices in London, San Francisco, Sydney, Beijing, Bangkok, and Lahore. To join the NetSol Technologies Inc. email distribution list please visit: http://www.b2i.us/irpass.asp?BzID=897&to=ea&s=0.
To learn more about NetSol Technologies Inc, visit www.netsoltek.com
This press release may contain forward-looking statements relating to the development of the Company's products and services and future operation results, including statements regarding the Company that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The words "believe," "expect," "anticipate," "intend," variations of such words, and similar expressions, identify forward looking statements, but their absence does not mean that the statement is not forward looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could affect the Company's actual results include the progress and costs of the development of products and services and the timing of the market acceptance.
Contacts: NetSol Technologies, Inc. Tina Gilger Chief Financial Officer Tel: +1 818-222-9195, x112 Investor Relations Christopher Chu Grayling Global Tel: +1-646-284-9426 Email: firstname.lastname@example.org
Released June 16, 2008