Lesaka Announces the Repurchase of Common Shares
19 Mai 2023 - 12:33AM
Business Wire
Lesaka Technologies, Inc. (“Lesaka” or the “Company”) (NasdaqGS:
LSAK; JSE: LSK) today announced that it has repurchased
approximately 250,000 of the Company’s common shares in May 2023,
at a price of $3.26 per share (ZAR 62.08 per share using the
relevant USD: ZAR exchange rate).
Lesaka Group CEO Chris Meyer said: “We reported another
quarter of growth and transformation last week, driven by the
acquisition of the Connect Group in our Merchant Division and the
successful turnaround in our Consumer Division, despite the
persistently challenging economic environment.
Our focus is to increase shareholder value by strategically
allocating capital to grow our business while maintaining an
appropriate capital structure. We are continuously evaluating
investing for growth against share buyback opportunities to enhance
long-term shareholder value.
We believe this repurchase reflects the confidence of Lesaka’s
Board and management team regarding our outlook. Lesaka is well
positioned to benefit from the exponential secular demand for
innovative fintech solutions that are transforming South Africa’s
highly cash-driven informal economy.
The continued digitalization of South Africa’s informal economy
serves as a durable catalyst for our business but ultimately our
success is built on the success of our customers.”
About Lesaka (www.lesakatech.com)
Lesaka Technologies, (Lesaka™) is a South African Fintech
company that utilizes its proprietary banking and payment
technologies to deliver superior financial services solutions to
merchants (B2B) and consumers (B2C) in Southern Africa. Lesaka’s
mission is to drive true financial inclusion for both merchant and
consumer markets through offering affordable financial services to
previously underserved sectors of the economy. Lesaka offers cash
management solutions, growth capital, card acquiring, bill payment
technologies and value-added services to formal and informal retail
merchants as well as banking, lending, and insurance solutions to
consumers across Southern Africa. The Lesaka journey originally
began as “Net1” in 1997 and later rebranded to Lesaka (2022), with
the acquisition of Connect. As Lesaka, the business continues to
grow its systems and capabilities to deliver meaningful
fintech-enabled, innovative solutions for South Africa’s merchant
and consumer markets.
Lesaka has a primary listing on NASDAQ (NasdaqGS: LSAK) and a
secondary listing on the Johannesburg Stock Exchange (JSE: LSK).
Visit www.lesakatech.com for additional information about Lesaka
Technologies (Lesaka ™).
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version on businesswire.com: https://www.businesswire.com/news/home/20230518005794/en/
Investor Relations and Media Relations Contact: Phillipe
Welthagen Email: phillipe.welthagen@lesakatech.com Mobile: +27 84
512 5393
FNK IR: Rob Fink / Matt Chesler, CFA Email: lsak@fnkir.com
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