8-K
NETSOL TECHNOLOGIES INC (NTWK)
UNITEDSTATES
SECURITIESAND EXCHANGE COMMISSION
Washington,DC 20549
FORM8-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 26, 2020
Commission file number: 0-22773
NETSOLTECHNOLOGIES, INC.
(Exact name of small business issuer as specified in its charter)
| NEVADA | 95-4627685 |
|---|---|
| (State<br> or other Jurisdiction of | (I.R.S.<br> Employer NO.) |
| Incorporation<br> 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<br> Stock | NTWK | NASDAQ |
Item5.07 Submission of Matters to a Vote of Security Holders.
On June 26, 2020, 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 May 11, 2019, the record date, 87.63% or 10,50,214 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 persons were elected directors of the Company to hold office until the next Annual General Meeting of the Shareholders. A total of 7,908,487 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 | 6,795,788 | 1,108,614 | 4,085 | 85.97 | % | ||||
| Mark Caton | 6,801,224 | 1,103,215 | 4,048 | 86.04 | % | ||||
| Malea Farsai | 6,809,508 | 1,094,726 | 4,253 | 86.15 | % | ||||
| Henry Tolentino | 6,589,830 | 1,314,607 | 4,050 | 83.36 | % | ||||
| Syed Kausar Kazmi | 6,817,467 | 1,086,831 | 4,189 | 86.25 | % |
2. Ratification of Appointment of Auditors:
BF Borgers, CPA was appointed as Auditors for the Company for the fiscal year ending June 30, 2020. 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 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 10,550,214 | 9,327,992 | 1,150,427 | 71,795 | 89.02 | % |
3. 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 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 7,908,487 | 6,345,328 | 1,546,233 | 16,926 | 80.40 | % |
| *Page 2* |
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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<br> TECHNOLOGIES, INC. | ||
|---|---|---|
| Date: | June<br> 26, 2020 | /s/ Najeeb Ghauri |
| NAJEEB<br> GHAURI | ||
| Chief<br> Executive Officer | ||
| Date: | June<br> 26, 2020 | /s/ Roger K. Almond |
| ROGER<br> K. ALMOND | ||
| Chief<br> Financial Officer |
| *Page 3* |
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