UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

 

Date of Report (Date of earliest event reported): June 7, 2023

 

Commission file number: 0-22773

 

NETSOL TECHNOLOGIES, INC.

(Exact name of small business issuer as specified in its charter)

 

NEVADA		95-4627685
(State or other Jurisdiction of		(I.R.S.
Incorporation or Organization)		Employer NO.)

 

16000 Ventura Blvd. Suite 770, Encino, CA 91436

(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		NTWK		NASDAQ

 

 

 

Item 5.07 Submission of Matters to a Vote of Security Holders.

 

On June 7, 2023, NetSol Technologies, Inc. (the “Company”) convened its annual meeting of shareholders. The following proposals were submitted to a vote of security holders. Of the total issued and outstanding shares as of April 13, 2023, the record date, 75.15% or 8,492,255 shares voted in this election. Broker non-votes, which are voted in the ratification of appointment of auditors, are present for purposes of establishing a quorum, but are not considered voted in other proposals.

 

1. Election of Directors

 

The following were elected directors of the Company to hold office until the next Annual General Meeting of the Shareholders. A total of 7,429,407 shares of common stock cast votes. The following sets forth the tabulation of the shares voted for each director:

 

Director		For		Against		Abstain		% of Total Voted For *
Najeeb Ghauri		5,635,589		1,788,134		5,684		75.91%
Mark Caton		5,569,289		1,856,146		3,972		75%
Malea Farsai		5,656,256		1,669,179		3,972		76.17%
Michael Francis		5,660,478		1,762,927		5,992		76.25%
Kausar Kazmi		5,611,577		1,813,838		3,992		75.57%

 

2. To approve, on an advisory basis, compensation of the named executive officers in this Proxy Statement:

 

The shareholders approved on an advisory basis the named executive officer compensation. The following sets forth the tabulation of the shares voting in connection with this proposal.

 

Total Shares Voted		For		Against		Abstain		% of Total Voted in Favor *
7,429,407		5,535,574		1,849,877		43,956		74.95%

 

3. To approve, on an advisory basis, vote on frequency of Future Shareholders’ Votes on Named Executive Officer Compensation. The following sets forth the tabulation of the shares voting in connection with this proposal.

 

Total Shares Voted		For One Year		For Two Years		For Three Years		Abstain			% in Favor of 1 year*
7,429,407		6,956,342		17,174		281,123			174,768		95.88%

 

4. Ratification of Appointment of Auditors:

 

BF Borgers, CPA was appointed as Auditors for the Company for the fiscal year ending June 30, 2023. Ratification of this appointment was sought in this proposal. The following sets forth the tabulation of the shares voting for this matter.

 

Total Shares Voted		For		Against		Abstain		% of Total Voted in Favor *
8,492,255		8,229,189		250,956		12,110		97.04%

 

* Less Abstention/Withheld

 

SIGNATURES

 

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: June 7, 2023	/s/Najeeb Ghauri
	NAJEEB GHAURI
	Chief Executive Officer
Date: June 7, 2023	/s/ Roger K. Almond
	ROGER K. ALMOND
	Chief Financial Officer