Unassociated Document
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): April 13, 2010 (April 12,
2010)
Commission
file number: 0-22773
NETSOL
TECHNOLOGIES, INC.
(Exact
name of small business issuer as specified in its charter)
(State
or other Jurisdiction of
Incorporation
or Organization)
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23901
Calabasas Road, Suite 2072, Calabasas, CA 91302
(Address
of principal executive offices) (Zip Code)
(818)
222-9195 / (818) 222-9197
(Issuer's
telephone/facsimile numbers, including area code)
Item
5.07 Submission of Matters to a Vote of Security
Holders.
On April
12, 2010, NetSol Technologies, Inc. (the "Company") convened its annual meeting
of shareholders.
The
following persons were elected directors of the Company to hold office until the
next Annual General Meeting of the Shareholders. A total of
28,430,492 shares were cast. The following sets forth the tabulation
of the shares voted for each director:
Director
|
For
|
Withhold |
Broker
Non-Votes |
%
of Total Voted
|
Najeeb
Ghauri
|
18,382,750
|
718,483
|
9,329,259
|
64.65%
|
Naeem
Ghauri
|
18,413,010
|
688,223
|
9,329,259
|
64.76%
|
Salim
Ghauri
|
18,415,832
|
685,401
|
9,329,259
|
64.77%
|
Shahid
Burki
|
18,408,802
|
692,431
|
9,329,259
|
64.75%
|
Eugen
Beckert
|
18,416,222
|
685,011
|
9,329,259
|
64.77%
|
Mark
Caton
|
18,402,131
|
699,102
|
9,329,259
|
64.72%
|
Alexander
Shakow
|
18,414,071
|
687,162
|
9,329,259
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64.76%
|
2. Ratification
of Appointment of Auditors
Kabani
& Company Inc. was appointed as Auditors for the Company for the fiscal year
ended June 30, 2010. The following sets forth the tabulation of the
shares voting for this matter.
Total
Shares Voted
|
For
|
Against
|
Abstain
|
Broker
Non-Votes
|
Percent
|
28,430,492
|
28,065,151
|
274,083
|
91,258
|
0
|
98.71%
|
The
meeting was also called for the purpose of approving an issuance of shares of
common stock and shares of common stock underlying warrants all issued as part
of a financing which closed in June 2007. Approval of this proposal
requires the approval of a majority of the voting power of the outstanding
shares present and entitled to vote on this matter. Therefore, abstentions and
broker non-votes have the same effect as votes against such proposals. As
of the time of the meeting, approximately 48% of the votes cast had been cast in
favor of the proposal, with a substantial number of broker non-votes and other
shares not represented in the voting. After considering the importance of
the matter, the number of votes not cast and the fact that shareholders
represented at the meeting were so closely divided on the proposal, shareholders
present at the meeting approved a motion presented by management to adjourn and
reconvene the meeting to allow additional time to solicit proxies from those
shareholders who had not voted on the proposal.
Please
see the supplement to the proxy statement filed with contemporaneously herewith
for information regarding the adjourned meeting date of April 23,
2010. The Company undertakes to file an amendment to this 8-K upon
conclusion of the shareholders’ meeting on the adjourned meeting
date.
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.
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NETSOL
TECHNOLOGIES, INC.
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/s/ Najeeb
Ghauri |
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NAJEEB
GHAURI
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Chief
Executive Officer
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/s/ Boo
Ali Siddiqui |
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BOO
ALI SIDDIQUI
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Chief
Financial Officer
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