Lahore: NetSol Technologies Ltd. has announced a strategic plan involving the sale of treasury shares to employees and a share buyback program, according to a statement released by the company on November 25, 2024. The Board of Directors has recommended these measures for shareholder approval through a special resolution.

The company plans to sell 2 million treasury shares to eligible employees under its Share Option Scheme. Additionally, NetSol Technologies intends to buy back up to 10 million of its issued ordinary shares, each with a face value of Rs.10, as per the Listed Companies (Buy-back of Shares) Regulations, 2019. This buyback is scheduled to occur between January 3, 2025, and June 29, 2025, or until completion, whichever comes first. The shares will be purchased at the spot price during this period using the company's distributable profits.

According to information available from the Pakistan Stock Exchange (PSX), the buyback is expected to positively impact the company's financial position by increasing the break-up value and earnings per share. It also provides an exit opportunity for shareholders wishing to liquidate their investments.

The Board has scheduled an Extra-Ordinary General Meeting (EOGM) for December 31, 2024, in Lahore, to seek shareholder approval for these initiatives. The company has announced that its Share Transfer Book will be closed from December 24 to December 31, 2024, with the last date for share transfers being December 23, 2024, at close of business.