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): November 12,
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 7.01. |
Regulation FD Disclosure.
|
On November 12, 2015, Net1 issued a press release which
announced that it had received a written notice from the Serious Economic
Offences Unit of the South African Police Services Directorate for Priority
Crime Investigation (the Hawks). The Hawks stated that the cases brought
before it had been investigated and brought before two separate prosecutors for
decisions. As both prosecutors declined to prosecute these matters, the Hawks
have closed the investigations and regard the matters as finalized. A copy of
the press release is attached as Exhibit 99.1.
Item 9.01. |
Financial Statements and 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: November 12, 2015 |
By: |
/s/
Herman G.
Kotze |
|
|
Herman G. Kotze |
|
|
Chief Financial Officer
|
Exhibit 99.1
Net1 Reports Closure of Hawks Investigation in South Africa
Johannesburg, November 12, 2015 Net 1 UEPS Technologies, Inc.
(Net1 or the Company) (NasdaqGS: UEPS; JSE: NT1) today provided an update on
the investigation into allegations of corruption by the Serious Economic
Offences Unit of the South African Police Services Directorate for Priority
Crime Investigation (the Hawks).
During 2012, shortly after the award of the SASSA tender to the
Company, certain media reports appeared in the South African press which alleged
or implied that the SASSA tender process was tainted by corruption through
bribes by or on behalf of our subsidiary, CPS.
On February 14, 2013, the Company filed an application pursuant
to Section 34 of the South African Prevention of Corrupt Activities Act in South
Africa with the South African Police Service. Section 34 deals with the
reporting of suspected fraud, theft, extortion and forgery.
Matters reported under Section 34 are usually referred for
investigation to the Hawks. Net1 filed the Section 34 application after it
conducted its own internal investigation into the allegations contained in the
South African press articles. The Company found no evidence substantiating any
of the press allegations. Net1 then filed the Section 34 application to prompt
the Hawks to conduct a wider investigation into the allegations because it did
not have access to the personal financial records of the alleged perpetrators. A
separate but similar complaint was lodged by the Democratic Alliance, the
official opposition political party in South Africa.
The Company has now received a written notice from the Hawks,
stating that both cases were investigated and brought before two separate
prosecutors for decisions. As both prosecutors declined to prosecute these
matters, the Hawks have closed the investigations and regard the matters as
finalized.
It is regrettable that a Companys image can so easily be
tarnished through irresponsible media reports, said Dr. Serge Belamant,
Chairman and CEO of Net1. We are delighted to receive yet another vindication
from the authorities regarding the scurrilous accusations leveled against us, in
addition to the High Court, Appeals Court and Constitutional Courts dismissals
of the corruption allegations, the SECs recent nonprosecution notice and the
dismissal of the class action lawsuit commenced in the United States District
Court for the Southern District of New York. We hope that these findings send a
message to the architects of these defamatory reports that justice will
prevail, he concluded.
About Net1 (www.net1.com)
Net1 is a leading provider of alternative payment systems that
leverage its Universal Electronic Payment System (UEPS) or utilize its
proprietary mobile technologies. The Company operates market-leading payment
processors in South Africa and the Republic of Korea.
UEPS permits the Company 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. Net1s UEPS/EMV solution is interoperable with global EMV standards
that seamlessly enable 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.
Net1s mobile technologies include its proprietary mobile
payments solution - MVC, which offers secure mobile-based payments, as well as
mobile banking and prepaid value-added services in developed and emerging
countries. The Company intends to deploy its varied mobile solutions through its
ZAZOO business unit, which is an aggregation of innovative technology companies
and is based in the United Kingdom.
Net1 has a primary listing on the 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