Netsol gets cash infusion. (Media & Technology).DCD (Document Content Description) An XML schema language from Textuality, Microsoft and IBM that is implemented as an RDF vocabulary. It supports data typing and schema reuse and is the successor to XML-Data. See XML schema, RDF and XML. Group, an investment banking firm based in London, has agreed to invest $2 million in Calabasas-based information technology firm, Netsol Technolgogies Inc. The deal allows the struggling IT firm to expand its marketing efforts and take on new clients for its IT software and services, Netsol said. "It is a strong vote of confidence in the future of the company by the DCD Group," said Netsol Chief Executive Naeem Ghaury. As part of the deal, DCD Group agreed to purchase about 2.7 million shares in the company for 62.5 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . The company's stock was trading last week around 20 cents a share on Nasdaq's Small Cap market. The company has been struggling for the past two years, posting losses of $3.4 million, $14.1 million and $6 million just last year, while revenues also have dropped in the same period, going from $7 million to $6.7 million and finally $3.6 million last year. The company, which last year changed its name from NetSol International to NetSol Technologies, is best know for its shareholder revolt REVOLT, crim. law. The act of congress of April 30, 1790, s. 8, 1 Story's L. U. S. 84, punishes with death any seaman who shall lay violent hands upon his commander, thereby to hinder or prevent his fighting in defence of his ship, or goods committed to his trust, or shall make a revolt in the summer of 2001. At the time, fund manager Jonathan Iseson and his New York-based Blue Water Partners, acquired a majority of the company's outstanding stock after a proxy fight Proxy Fight When a group of shareholders are persuaded to join forces and gather enough shareholder proxies to win a corporate vote. This is sometimes also referred to as a proxy battle. Notes: This term is mainly used in the context of takeovers. and went on to elect a new board of directors and tried to oust oust tr.v. oust·ed, oust·ing, ousts 1. To eject from a position or place; force out: "the American Revolution, which ousted the English" Virginia S. Eifert. Ghaury and others. But the then management, led by Ghaury and his three brothers insisted they still controlled the company and at one point locked themselves in the building before the group of dissident shareholders dissident shareholders Shareholders who oppose a firm's management or management policy. For example, dissident shareholders of Hewlett-Packard opposed that firm's offer to purchase Compaq Computer. and armed guards forced them out. The issue was later settled when a judge appointed a receiver to straighten things out. Business Journal Reporter Carlos Martinez may be reached at (818) 316-3126 or by e-mail at cmartinez@sfvbj.com. |
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