Lahore, NetSol Technologies Limited, a global provider of software solutions, has made significant announcements following the meeting of its Board of Directors held on September 21, 2023, at the company’s registered office in Lahore Cantt.
Cash Dividend and Bonus Shares
The Board of Directors has recommended a final cash dividend for the fiscal year ended June 30, 2023, at Rs. NIL per share, representing NIL% of the share’s value. This cash dividend is in addition to any interim dividends already paid, which were also at Rs. NIL per share, with a NIL% value.
In addition, the Board has suggested issuing bonus shares in the proportion of NIL share(s) for every NIL share(s) held, which also amounts to NIL%. These bonus shares complement any interim bonus shares previously distributed.
Right Shares and Corporate Actions
The Board of Directors has also recommended issuing NIL% right shares at par/at a discount/premium of Rs. NIL per share, in the proportion of NIL share(s) for every NIL share(s) held. The entitlement of right shares will be declared simultaneously and may or may not apply to the bonus shares declared above.
Furthermore, there are no other entitlements or corporate actions proposed by the Board.
Financial Results
NetSol Technologies Limited released its financial results for the fiscal year 2023, showcasing impressive growth:
Revenue from contracts with customers-net: Rs. 7,670,180,883, compared to Rs. 6,116,638,090 in the previous year.
Gross profit: Rs. 2,262,163,885, compared to Rs. 2,104,988,112 in the previous year.
Earnings per Share (Basic): 14.63 Rupees, compared to 10.19 Rupees in the previous year.
Earnings per Share (Diluted): 14.59 Rupees, compared to 10.18 Rupees in the previous year.
Upcoming Annual General Meeting
NetSol Technologies Limited has scheduled its Annual General Meeting for October 25, 2023, in Lahore.
Share Transfer Book Closure
The Share Transfer Books of the company will be closed from October 19, 2023, to October 25, 2023, both days inclusive.
Annual Report
The Annual Report of the company will be transmitted through PUCARS at least 21 days before the Annual General Meeting.
These announcements reflect NetSol Technologies Limited’s commitment to delivering value to its shareholders and its strong financial performance in the fiscal year 2023.
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