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Microcap & Penny Stocks : NTWK OTC BB Netsol International Inc (Formerly MGHI)
NTWK 3.315-0.5%3:39 PM EDT

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From: QualityStocks7/27/2010 8:55:08 AM
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NetSol Technologies, Inc. (NTWK) Commences Share Repurchase Plan of Up to 2 Million Shares

NetSol Technologies, Inc., a worldwide provider of global IT and enterprise application solutions, announced this morning that the Company’s board of directors has authorized a share repurchase program for up to 2 million shares of the Company’s common stock. The plan went into effect today and is expected to be completed within six months.

NetSol’s Chairman and CEO, Najeeb Ghauri, stated, “I am pleased to announce the Company’s stock buyback plan, which we believe will increase the value of the shares held by our investors. We are very excited and bullish about our global business outlook, as demand for our NFS(TM) platform has surged over the last two quarters and grown our backlog substantially. This is an excellent opportunity for us to initiate this open-market buyback, as we believe that our stock is quite undervalued based on fundamentals and intrinsic value.”

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