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 10, 2019
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.) |
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)
Item 5.07 Submission of Matters to a Vote of Security Holders.
On June 10 2019, 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 22, 2019, the record date, 90.86% or 10,767,597 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 7,782,719 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 | | | 7,266,327 | | | | 503,804 | | | | 12,538 | | | | 93.51 | % |
| Naeem Ghauri | | | 7,240,599 | | | | 529,277 | | | | 12,843 | | | | 93.18 | % |
| Shahid J. Burki | | | 7,147,366 | | | | 395,419 | | | | 239,934 | | | | 94.75 | % |
| Mark Caton | | | 7,244,309 | | | | 513,676 | | | | 24,737 | | | | 93.37 | % |
| Malea Farsai | | | 7,352,207 | | | | 406,778 | | | | 23,734 | | | | 94.75 | % |
| Henry Tolentino | | | 7,557,069 | | | | 201,916 | | | | 23,734 | | | | 97.39 | % |
| Syed Kausar Kazmi | | | 7,489,229 | | | | 269,756 | | | | 23,734 | | | | 96.52 | % |
2. Ratification of Appointment of Auditors:
KSP Group, Inc. was appointed as Auditors for the Company for the fiscal year ending June 30, 2019. 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 | |
| | 10,767,597 | | | | 9,869,975 | | | | 884,148 | | | | 13,474 | | | | 91.77 | % |
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 | |
| | 7,782,719 | | | | 6,055,212 | | | | 1,705,062 | | | | 22,445 | | | | 78.02 | % |
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 10, 2019 | /s/ Najeeb Ghauri |
| | | NAJEEB GHAURI |
| | | Chief Executive Officer |
| | | |
| Date: | June 10, 2019 | /s/ Roger K. Almond |
| | | ROGER K. ALMOND |
| | | Chief Financial Officer |
