SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934 (Amendment No. )
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/ / Preliminary Proxy Statement
/ / CONFIDENTIAL, FOR USE OF THE COMMISSION ONLY (AS PERMITTED BY RULE
14a-6(e)(2))
/ / Definitive Proxy Statement
/X/ Definitive Additional Materials
/ / Soliciting Material Pursuant to Section 240.14a-12
Netsol International, Inc.
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NETSOL INTERNATIONAL REPORTS THAT VOTES ARE STILL BEING
TABULATED IN PROXY AND CONSENT SOLICITATION CONTEST
CALABASAS, Calif.--(BUSINESS WIRE)--June 11, 2001--NetSol International, Inc.
(NASDAQ: NTWK, www.netsol-intl.com) today announced that votes are still being
counted in connection with its June 19, 2001 shareholder meeting and the related
consent solicitation. "We are confident that a majority of NetSol's shareholders
will believe in our ability to run the Company, and will vote with us," stated
Najeeb Ghauri, Chief Executive Officer of the Company. "The Company does not
believe that the insurgent shareholder group is following state or federal law,
and believes that when the dust settles the insurgent group will have less than
50% of the vote," added Ghauri. Irfan Mustafa, the Company's chairman of the
board of directors, went on to say "At this time I would like to re-assure all
of our loyal shareholders, customers and employees worldwide that we intend to
conduct business as usual at Netsol International and all of its subsidiaries."
In conclusion, Ghauri stated, "We are looking forward to the June 19th special
meeting where we intend to demonstrate that we enjoy support from a majority of
our shareholders."
The Company filed its definitive proxy materials with the SEC in connection with
the special meeting to be held June 19, 2001 in response to NetSol Shareholder
Group LLC's request to expand the Company's board of directors from eight to
fifteen members and fill the newly created vacancies with its hand picked
nominees. The Company's board of directors urges its shareholders to contact
MacKenzie Partners, Inc. at (800) 322-2885 or proxy@mackenziepartners.com for
more information. The Company's board of directors also urges its shareholders
to read the entire proxy statement because it contains important information.
NetSol International Inc. is an ISO-9001 certified software developer in the
global information technology industry. With an international workforce of more
than 400 employees, NetSol specializes in software development, proprietary and
asset-based leasing and finance programs, IT consulting, and creation of
eBusiness and Web-based solutions for a growing list of blue-chip customers
worldwide. Clients include Daimler Chrysler Taiwan; Mercedes Benz Financing,
Australia; Mercedes Benz Leasing, Thailand; CFS Groups U.K., St. George Bank,
Australia; GMAC in Australia, and Debis Porfolio Systems, U.K. For more
information about NetSol and its subsidiaries, visit the company's web site at
www.netsol-intl.com.
Safe Harbor Statement
This release contains forward looking statements relating to the development of
the Company's products and services and future operation results, including
statements regarding the Company that are subject to certain risks and
uncertainties that could cause actual results to differ materially from those
projected. The words "believe," "expect," "anticipate," "intend," variations of
such words, and similar expressions identify forward looking statements, but
their absence does not mean that the statement is not forward looking. These
statements are not guarantees of future performance and are subject to certain
risks, uncertainties and assumptions that are difficult to predict. Factors that
could affect the Company's actual results include the progress
and costs of the development of products and services and the timing of the
market acceptance of those products and services. A more detailed description of
certain factors that could affect actual results include those factors discussed
in the Company's filings with the United States Securities and Exchange
Commission, including its annual report on Form 10-KSB and quarterly reports on
Form 10-QSB. NetSol International Inc. undertakes no obligation to update
publicly any forward-looking statements to reflect new information, events or
circumstances after the date of this release or to reflect the occurrences of
unanticipated events. Readers are cautioned not to put undue reliance on
forward-looking statements, which speak only as of the date of this release. The
company disclaims any intent or obligation to update publicly these
forward-looking statements, whether as a result of new information, future
events or for any other reason.
CONTACT:
Cramer-Krasselt
Amy Dolnick, 312/616-3823
adolnick@c-k.com