KARACHI: The board of directors of NetSol Technologies Limited has decided to recommend to the members for their approval by passing a special resolution, the buyback of 2 million of its ordinary shares at the spot rate.
The board of directors of the company took this decision in its meeting held on Monday, material information sent to Pakistan Stock Exchange said.
According to material information, the purchase will be made out of distributable profits of the company using its own funds.
The purchase will improve the EPS subsequent to the purchase and will also result in improved dividend, the information said. Further, it will provide an opportunity for exit to those members who wish to liquidate their investment, it added.
“It will improve EPS, future dividends, and the break-up value of the Company’s share.”
Copyright Business Recorder, 2022