NetSol Technologies Inc. Announces 2024 Annual Meeting of Shareholders

Ticker: NTWK · Form: DEF 14A · Filed: Apr 22, 2024 · CIK: 1039280

Netsol Technologies Inc DEF 14A Filing Summary
FieldDetail
CompanyNetsol Technologies Inc (NTWK)
Form TypeDEF 14A
Filed DateApr 22, 2024
Risk Levellow
Pages16
Reading Time19 min
Key Dollar Amounts$7,500, $1.1 million, $7.0 million, $2 million
Sentimentneutral

Sentiment: neutral

Topics: Proxy Statement, Annual Meeting, Shareholders, DEF 14A, NetSol Technologies

TL;DR

<b>NetSol Technologies, Inc. has filed its Definitive Proxy Statement for the upcoming Annual Meeting of Shareholders on June 13, 2024.</b>

AI Summary

NETSOL TECHNOLOGIES INC (NTWK) filed a Proxy Statement (DEF 14A) with the SEC on April 22, 2024. NetSol Technologies, Inc. will hold its Annual Meeting of Shareholders on June 13, 2024. The meeting will take place at the company's headquarters in Encino, CA. The filing is a Definitive Proxy Statement (DEF 14A). The company's fiscal year ends on June 30. Netsol Technologies Inc. was formerly known as Mirage Holdings Inc. and Netsol International Inc.

Why It Matters

For investors and stakeholders tracking NETSOL TECHNOLOGIES INC, this filing contains several important signals. This filing provides shareholders with essential information regarding the upcoming annual meeting, including details about the agenda, voting procedures, and board nominations. As a DEF 14A filing, it signifies the formal distribution of proxy materials to shareholders, enabling them to exercise their voting rights on corporate matters.

Risk Assessment

Risk Level: low — NETSOL TECHNOLOGIES INC shows low risk based on this filing. The filing is a routine proxy statement, indicating no immediate significant financial or operational changes requiring urgent shareholder attention.

Analyst Insight

Shareholders should review the proxy statement to understand the proposals being voted on and to cast their votes accordingly before the June 13, 2024 meeting.

Key Numbers

  • June 13, 2024 — Annual Meeting Date (NetSol Technologies, Inc. Annual Meeting of Shareholders)
  • 2024-04-22 — Filing Date (DEF 14A Filing Date)
  • 0630 — Fiscal Year End (NetSol Technologies, Inc. Fiscal Year End)

Key Players & Entities

  • NETSOL TECHNOLOGIES INC (company) — Registrant
  • 2024-04-22 (date) — Filing Date
  • June 13, 2024 (date) — Annual Meeting Date
  • 16000 VENTURA BLVD., SUITE 770 ENCINO, CA 91436 (address) — Business Address
  • 0630 (date) — Fiscal Year End
  • 19990819 (date) — Date of Name Change
  • 19970519 (date) — Date of Name Change
  • DEF 14A (form) — Filing Type

FAQ

When did NETSOL TECHNOLOGIES INC file this DEF 14A?

NETSOL TECHNOLOGIES INC filed this Proxy Statement (DEF 14A) with the SEC on April 22, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by NETSOL TECHNOLOGIES INC (NTWK).

Where can I read the original DEF 14A filing from NETSOL TECHNOLOGIES INC?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by NETSOL TECHNOLOGIES INC.

What are the key takeaways from NETSOL TECHNOLOGIES INC's DEF 14A?

NETSOL TECHNOLOGIES INC filed this DEF 14A on April 22, 2024. Key takeaways: NetSol Technologies, Inc. will hold its Annual Meeting of Shareholders on June 13, 2024.. The meeting will take place at the company's headquarters in Encino, CA.. The filing is a Definitive Proxy Statement (DEF 14A)..

Is NETSOL TECHNOLOGIES INC a risky investment based on this filing?

Based on this DEF 14A, NETSOL TECHNOLOGIES INC presents a relatively low-risk profile. The filing is a routine proxy statement, indicating no immediate significant financial or operational changes requiring urgent shareholder attention.

What should investors do after reading NETSOL TECHNOLOGIES INC's DEF 14A?

Shareholders should review the proxy statement to understand the proposals being voted on and to cast their votes accordingly before the June 13, 2024 meeting. The overall sentiment from this filing is neutral.

Risk Factors

  • Filing Compliance [low — regulatory]: The company must comply with SEC regulations for proxy statements, ensuring all required information is accurately disclosed to shareholders.

Key Dates

  • 2024-06-13: Annual Meeting of Shareholders — Shareholders will vote on corporate matters and elect directors.
  • 2024-04-22: Filing Date — Definitive Proxy Statement (DEF 14A) filed with the SEC.

Glossary

DEF 14A
Definitive Proxy Statement filed with the SEC. (This filing provides shareholders with formal notice and details for the annual meeting, including voting information.)
Proxy Statement
A document filed by a company with the SEC that contains information that shareholders need to make informed decisions about matters presented at a shareholder meeting. (Essential for shareholders to understand proposals and exercise their voting rights.)

Filing Stats: 4,776 words · 19 min read · ~16 pages · Grade level 12.1 · Accepted 2024-04-19 18:15:12

Key Financial Figures

  • $7,500 — solicitation of votes for approximately $7,500 plus any out-of-pocket expenses. In acc
  • $1.1 million — elp the business generate approximately $1.1 million in annual recurring revenues. We effe
  • $7.0 million — We effectively generated approximately $7.0 million by successfully implementing change req
  • $2 million — xtension is expected to generate nearly $2 million in revenues over the next few quarters.

Filing Documents

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 43 Voting Procedures 44 Proxy Summary Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting of Shareholders to be held on June 13, 2024. This Notice of the 2023 Annual Meeting of Shareholders and Proxy Statement, are available free of charge at www.proxyvote.com or at www.netsoltech.com/proxy . References in either document to our website are for the convenience of readers, and information available at or through our website is not part of, nor is it incorporated by reference in, the Proxy Statement. The Board of Directors of NetSol Technologies, Inc. is soliciting proxies to be voted at our 2023 Annual Meeting of Shareholders on June 13, 2024, and at any postponed or reconvened meeting. We expect that the proxy materials or a notice of internet availability will be mailed and made available to shareholders beginning on or about April 24, 2024. At the meeting, votes will be taken on the matters listed in the Notice of 2023 Annual Meeting of Shareholders. Board recommendation Page number Proposal 1: Election of Directors FOR each nominee 11 Proposal 2: Advisory Vote to Approve Executive Compensation FOR 12 Proposal 3: Ratification of Appointment of BF Borgers CPA PC to Serve as the Company&rsquo;s Independent Auditors For Fiscal Year 2024 FOR 13 ii PROXY This Proxy Statement is furnished to holders of the common stock, par value $.01 per share, of NetSol Technologies, Inc., a Nevada corporation (the &ldquo;Company&rdquo; or &ldquo;NetSol&rdquo;), in connection with the solicitation by the Company&rsquo;s Board of Directors of proxies for use at the Company&rsquo;s Annual Meeting of Shareholders (the &ldquo;Annual Meeting&rdquo;). For overnight accommodations Courtyard Los Angeles Sherman Oaks, located at 15433 Ventura Blvd., Sherman Oaks, CA 91403, telephone number is (818) 98

BUSINESS

BUSINESS OVERVIEW-2023 HIGHLIGHTS We worked through tremendous challenges, including inflation headwinds, a strained supply chain, an extremely tight labor market and Russia&rsquo;s invasion of Ukraine. Despite these many challenges, this past year confirmed that our focused portfolio, our superior technical capabilities, and our talented workforce provide us with an edge in the industry. We&rsquo;ve strived to maintain our commitments to our customers and communities, and we&rsquo;ve built a backlog that supports our position as an industry leader. With the steady recovery of our business globally, we accelerated our plans to transform our business to meet customers&rsquo; evolving preferences in the new environment and position the Company for long-term success. A few of our highlights for the fiscal year ended June 30, 2023, were: We partnered with Amazon Web Services (AWS) to offer cloud computing services, providing an innovative transformation of our cloud-based solutions. Since this launch, we have successfully signed our first customer, a leading software house based in the U.S. We achieved the status of Foundational Technical Review Badge Delivery Partner with AWS. With this extended APN partnership, we will have access to AWS fully managed services that makes it easy for developers to create, publish, maintain, monitor, and secure APIs (application programming interfaces) at any scale. This partnership is expected to help the business generate new sales for this growth vertical. We signed a contract with a tier 1 automotive company in the U.S. for our mobility solution which will manage the back-office operations for vehicle subscriptions. We launched a new product offering &ndash; Flex, which is a cloud-based ready-to-use calculation engine that guarantees precise calculations at all stages of the contract lifecycle. We successfully signed our first Flex contract with European Merchant Bank. We launched Hubex, an API library that enables compa

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