Netsol Technologies Limited’s enhancement of paid-up capital from 78,018,203 to 78,571,703

Karachi, June 13, 2013 (PPI-OT): This is with reference to earlier telephonic discussion with Mr. Azam Fawad Siddiqi, AM Operation on the captioned above. In this regard, we would like inform you that the Paid-up Capital of the company has been enhanced from 78,018,203 to 78,571,703 shares after physical allotment of 553,500 shares @16,42/- per share to employees who exercised his share option under Employee Stock Option Scheme without right offer under Section 86 of the Companies Ordinance, 1984 duly approved by Commission vide letter dated May 07, 2009.

In this connection, we are enclosing herewith in original Statutory Auditor’s Certificate confirming the revised paid-up Capital of the Company as per your guidelines of Annexure B of the procedure of input of Paid-up Capital/ Total Issue in CDS for your further necessary action. Following documents have already been submitted to your office.

1. Certified true copy of SECP approval dated 07-05-2009, (vide our letter dt. 23-11-2012)
2. SECP certified true copy of Special resolution dated 22-07-2008, (vide our letter dt. 23-11-2012)
3. Certified true copy of Employee Stock Option Scheme (ESOS-2009), (vide our letter dt. 23-11-2012)
4. Minutes of Compensation Compliance dated August 03, 2009, (vide our letter dt. 20-12-2012)
5. Annual Report of the Company for FY 2012. (vide our letter dt. 20-12-2012 and 11-04-2013)
6. Financial Statement (Un-audited) for the quarter ended 30-06-2012. (vide our letter dt. 11-04-2013)
7. Financial Statement (Un-audited) for the quarter ended 31-12-2012. (vide our letter dt. 11-04-2013)

Therefore, you are requested that please enhance paid-up capital of the company as mentioned above in CDC LOBO, SBD and other records and inform us accordingly.

Kabani and Company

Statutory Auditor’s Certificate on Revised Paid Up Capital

This is to confirm that the Issued, Subscribed and Paid up share Capital of the NetSol Technologies Limited after the issuance of the SECP Letter No SMD/CIW/ESOS/01/2008 dated May 7, 2009 regarding granting approval for issue of further shares to its employees under its Employees Stock Option Scheme without right issue under section 86 of the Companies Ordinance, 1984 has been increased from 78,018,203 to 78,571,703 after physical allotment of 553,500 shares to employees of the Company who exercised their share option under the scheme.

Further to certify that all the requirements and conditions imposed by SECP with regard to allotment of shares have been fulfilled by the issuer and that the consideration amounting to Rs 9,088,470/- against this increase has been received in cash by Netsol Technologies Limited.

This certificate is specifically provided on request of the company in response to the requirement from the Statutory Auditor’s under guidelines for the increase in Paid-up Share Capital in Central Depository Company without right issue.

For more information, contact:
Boo-Ali Siddiqui
Company Secretary
NetSol Technologies Limited
43/1/Q, Amna Village 1,
Block –6, PECHS, Karachi
Tel: (92 21) 111-838-785
Fax: (92-21) 34313464