Current Report Filing (8-k)
31 Juli 2015 - 10:18PM
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): July 31,
2015 (July 30, 2015)
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
Not Applicable
(Former name or former address,
if changed since last report.)
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 1.01. Entry into a Material Definitive Agreement.
On July 30, 2015, Net1 Applied Technologies South Africa
Proprietary Limited (Net1SA), a directly wholly-owned subsidiary of Net 1 UEPS
Technologies, Inc. (the Company), and certain of Net1SAs wholly-owned
subsidiaries (collectively the Borrowers), signed a Second Addendum to the
Facility Letter (as amended) (the Second Addendum) with Nedbank Limited, a
South African bank (Nedbank), to reduce the overdraft facility component of
the Companys available aggregate facility with Nedbank from up to ZAR 200
million to up to ZAR 50 million, effective July 30, 2015. The aggregate amount
of the facility will remain up to ZAR 400 million; however, the terms of the
facility have been modified so that the aggregate amount now consists of (i) a
primary amount of up to ZAR 200 million, which is immediately available, and
(ii) a secondary amount of up to ZAR 200 million, which is not immediately
available. The overdraft facility is included within the primary amount.
The material terms and conditions of the Second Addendum are
more fully discussed in Item 2.03 below.
On July 30, 2015, the USD/ZAR exchange rate was $1.00/ZAR
12.54.
Item 2.03. Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The Second Addendum reduces the overdraft facility component of
the available aggregate facility from ZAR 250 million to ZAR 50 million. There
were no changes to the indirect and derivative facilities of up to ZAR 150
million, including letters of guarantee, letters of credit and forward exchange
contracts.
In addition, the aggregate amount of the facility now includes
a Secondary Amount of ZAR 200 million, which is not immediately available to the
Borrowers. Utilization of the Secondary Amount is subject to certain conditions,
including (i) written notice from the Borrowers notifying Nedbank of their
intention to utilize the Secondary Amount, (ii) providing customary documents
and confirmations to Nedbank, (iii) fulfilling additional conditions imposed by
Nedbank, (iv) confirming the interest rate and (v) final and unconditional
approval by Nedbank evidenced by the execution of an addendum to the Facility
Agreement by the Borrowers and Nedbank.
The foregoing description of the Second Addendum does not
purport to be complete and is qualified in its entirety by reference to the full
text of the Second Addendum, which is attached hereto as Exhibit 99.1 and
incorporated herein by reference.
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.
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NET 1 UEPS TECHNOLOGIES, INC.
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|
|
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Date: July 31, 2015 |
By: |
/s/
Serge C.P. Belamant |
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Serge C.P. Belamant |
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Chief Executive
Officer |
EXHIBIT INDEX
Exhibit 99.1
Net 1 Ueps Technologies (NASDAQ:UEPS)
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