Current Report Filing (8-k)
06 März 2019 - 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): March 6, 2019
(February 28, 2019)
NET 1 UEPS TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
Florida
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000-31203
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98-0171860
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(State or other jurisdiction
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(Commission
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(IRS Employer
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of incorporation)
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File Number)
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Identification No.)
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President Place, 4
th
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))
Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b
-2 of this chapter).
Emerging growth company [ ]
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to
Section 13(a) of the Exchange Act. [ ]
Item 1.01 Entry into a Material Definitive Agreement.
On February 28, 2018, Net 1 UEPS Technologies Inc., through its
wholly owned South African subsidiary, Net1 Applied Technologies South Africa
Proprietary Limited (
Net1 SA
), entered into a transaction with JAA
Holdings Proprietary Limited, a limited liability private company duly
incorporated in the Republic of South Africa, and PK Gain Investment Holdings
Proprietary Limited, a limited liability private
company duly
incorporated in the Republic of South Africa, in terms of which Net1 SA will
reduce its shareholding in DNI-4PL Contracts Proprietary Limited (
DNI
)
from 55% to 38%. Under the terms of Net1 SAs subscription agreements with DNI,
it agreed to pay to DNI an additional amount of up to ZAR 400.0 million ($28.2
million, translated at exchange rates applicable as of March 6, 2019). Net1 SA
will use the proceeds from the sale to settle its ZAR 400 million obligation.
The transaction is subject to a number of customary closing
conditions and is expected to close by April 8, 2019.
Item 9.01. Financial Statements and Exhibits.
SIGNATURES
Pursuant to the requirements of
the Securities Exchange Act of 1934, as amended, 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: March 6, 2019
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By:
/s/ Herman G. Kotzé
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Name: Herman G. Kotzé
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Title: Chief Executive Officer
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