Current Report Filing (8-k)
05 Dezember 2014 - 10:08PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
20549
___________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 5,
2014
NET 1 UEPS TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
Florida |
000-31203 |
98-0171860 |
(State or other jurisdiction |
(Commission |
(IRS Employer |
of incorporation) |
File Number) |
Identification No.) |
President Place, 4th Floor, Cnr. Jan
Smuts Avenue and Bolton Road
Rosebank, Johannesburg, South Africa
(Address of principal executive
offices)
(ZIP Code)
Registrants telephone number, including area code:
011-27-11-343-2000
Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
[ ] Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a -12)
[ ] Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
[ ] Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))
Item 7.01 Regulation FD Disclosure.
On December 5, 2014, Net1 issued a press release providing an
update on the current SASSA tender process summarizing the South African
Constitutional Courts directions related to the Companys recent application to
the Court. A copy of the press release is attached as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
NET 1 UEPS TECHNOLOGIES, INC.
Date: December 5, 2014 |
By: /s/ Serge Belamant |
|
Dr. Serge
C.P. Belamant |
|
Chief
Executive Officer and Chairman of |
|
the Board
|
Exhibit 99.1
Net1 provides further update on SASSA tender process
Johannesburg, December 5, 2014 Net 1 UEPS Technologies, Inc.
(Net1 or the Company) (Nasdaq: UEPS; JSE: NT1) today provided a further
update on the SASSA tender process.
As ordered by the South African Constitutional Court (Court)
in its April 2014 ruling, SASSA has initiated a new tender process for a
five-year contract for the payment of social grants. SASSA issued a request for
proposals on October 22, 2014 (RFP). Bidders were required to submit proposals
by December 12, 2014, and Net1 intends to participate in the tender process.
Following a detailed analysis of the tender specifications, the
Company concluded that the tender specifications were not sufficiently clear
regarding a number of critical points and failed to comply with the RFP
requirements specified in the Courts order. The Company wrote a letter to
SASSA, requesting that the RFP be withdrawn, corrected and reissued. SASSA
declined the request by the Company. The Company applied to the Court on
November 6, 2014, for an order setting aside the RFP and directing SASSA to
issue a corrected RFP. The Company initiated the request to SASSA, and
subsequently to the Court, in order to ensure that there is no ambiguity in the
tender specifications or conflict with the Court's April 2014 remedy order in an
attempt to reduce the likelihood of another prolonged legal challenge should
SASSA award a new tender.
SASSA and AllPay (an unsuccessful bidder during the previous
RFP and a party to the Courts April 2014 ruling) opposed the Companys
application. Following the submission of further affidavits and arguments to the
Court, the Court issued directions on December 5, 2014, stating the following:
|
1. |
SASSA must: |
|
|
|
|
|
|
a. |
Extend the deadline for the submission of bids to
February 27, 2015; |
|
|
|
|
|
|
b. |
Finalize its proposed amendments to the RFP by December
15, 2014 and file a copy of the draft amended RFP with the Court by
December 20, 2014; |
|
|
|
|
|
|
c. |
Circulate the draft amended RFP to all litigating parties
and all the other bidders by December 20, 2014. The draft amended RFP must
highlight all the changes made in response to this application and to the
questions posed by those bidders who sought to obtain clarity through the
written question and answer procedure contained in the RFP; |
|
|
|
|
|
|
d. |
Issue a bidders notice calling upon all bidders to
furnish objections or questions to the draft amended RFP to SASSA by
January 15, 2015. |
|
|
|
|
|
2. |
The litigating parties may, if they so choose, file
further short affidavits in the application itself by January 20,
2015. |
|
|
|
|
|
3. |
The litigating parties may, if they so choose, file
further written submissions, not longer than 20 pages, on any issue that
may remain after the process set out in paragraphs 1 and 2 above has been
completed, by January 27, 2015. |
About Net 1
(www.net1.com)
Net1 is a leading provider of alternative payment systems that
leverage its Universal Electronic Payment System (UEPS), to facilitate
biometrically secure, real-time electronic transaction processing to unbanked
and under-banked populations of developing economies around the world in an
online or offline environment. Net1's UEPS/EMV solution is interoperable with
global EMV standards that seamlessly permit access to all the UEPS functionality
in a traditional EMV environment. In addition to payments, UEPS can be used for
banking, healthcare management, payroll, remittances, voting and identification.
Net1 operates market-leading payment processors in South Africa and the Republic of Korea. In addition, Net1's proprietary MVC technology offers secure mobile payments and banking services in developed and emerging countries.
Net1 has a primary listing on NASDAQ and a secondary listing on the Johannesburg Stock Exchange.
Forward-Looking Statements
This announcement contains forward-looking statements that involve known and unknown risks and uncertainties. A discussion of various factors that cause our actual results, levels of activity, performance or achievements to differ materially from
those expressed in such forward-looking statements are included in our filings with the Securities and Exchange Commission. We undertake no obligation to revise any of these statements to reflect future events.
Investor Relations Contact:
Dhruv Chopra
Head of Investor Relations
Phone: +1 917-767-6722
Email: dchopra@net1.com
Net 1 Ueps Technologies (NASDAQ:UEPS)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Net 1 Ueps Technologies (NASDAQ:UEPS)
Historical Stock Chart
Von Jul 2023 bis Jul 2024