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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001062993-08-000457.txt : 20080208
<SEC-HEADER>0001062993-08-000457.hdr.sgml : 20080208
<ACCEPTANCE-DATETIME>20080208121625
ACCESSION NUMBER:		0001062993-08-000457
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080208
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20080208
DATE AS OF CHANGE:		20080208

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NET 1 UEPS TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0001041514
		STANDARD INDUSTRIAL CLASSIFICATION:	FUNCTIONS RELATED TO DEPOSITORY BANKING, NEC [6099]
		IRS NUMBER:				980171860
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-31203
		FILM NUMBER:		08587692

	BUSINESS ADDRESS:	
		STREET 1:		4TH FLOOR, PRESIDENT PLACE
		STREET 2:		CNR. JAN SMUTS & BOLTON
		CITY:			ROSEBANK, JOHANNESBURG
		STATE:			T3
		ZIP:			00000
		BUSINESS PHONE:		27 11 343 2000

	MAIL ADDRESS:	
		STREET 1:		4TH FLOOR, PRESIDENT PLACE
		STREET 2:		CNR. JAN SMUTS & BOLTON
		CITY:			ROSEBANK, JOHANNESBURG
		STATE:			T3
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
<!DOCTYPE HTML PUBLIC "Form 8-K re_ Edwards and Seabrooke Restricted Stock Grant.pdf">


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<HEAD>
   <TITLE>Filed by Automated Filing Services Inc. (604)609-0244 - Net1 UEPS Technologies, Inc. - Form 8K</TITLE>
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<P align=center><B><FONT size=5>UNITED STATES</FONT><BR></B><B><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION </FONT><BR>Washington, D.C. 20549
<BR>___________________________</B></P>
<P align=center><B><FONT size=5>FORM 8-K</FONT></B></P>
<P align=center><B>CURRENT REPORT<BR></B><B>Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934</B></P>
<P align=center>Date of Report (Date of earliest event reported): February 8,
2008 (February 6, 2008)</P>
<P align=center><B><FONT size=5><U>NET 1 UEPS TECHNOLOGIES,
INC.</U></FONT><BR></B>(Exact name of registrant as specified in its
charter)</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=center><U><B>Florida </B></U></TD>
    <TD align=center width="33%"><U><B>000-31203 </B></U></TD>
    <TD align=center width="33%"><U><B>98-0171860 </B></U></TD></TR>
  <TR vAlign=top>
    <TD align=center>(State or other jurisdiction </TD>
    <TD align=center width="33%">(Commission </TD>
    <TD align=center width="33%">(IRS Employer </TD></TR>
  <TR vAlign=top>
    <TD align=center>of incorporation) </TD>
    <TD align=center width="33%">File Number) </TD>
    <TD align=center width="33%">Identification No.) </TD></TR></TABLE>
<P align=center><B>President Place, 4</B><B><SUP>th</SUP></B><B> Floor, Cnr. Jan
Smuts Avenue and Bolton Road <BR><U>Rosebank, Johannesburg, South
Africa</U><BR></B>(Address of principal executive offices) (ZIP Code)</P>
<P align=center>Registrant&#146;s telephone number, including area code:
<B>011-27-11-343-2000</B></P>
<P align=center>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:</P>
<P align=center>[ ] Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</P>
<P align=center>[ ] Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a -12)</P>
<P align=center>[ ] Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d -2(b))</P>
<P align=center>[ ] Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e -4(c))</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_2></A>
<P align=justify><B>ITEM 8.01 OTHER EVENTS.</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On February 6, 2008, the
Remuneration Committee (the &#147;Committee&#148;) of the Board of Directors of Net 1 UEPS
Technologies, Inc. (the &#147;Company&#148; or &#147;Net1&#148;), approved an award of 1,931
restricted shares of the Company&#146;s common stock to Mr. Christopher Seabrooke and
1,351 restricted shares of the Company&#146;s common stock to Paul Edwards
(collectively, &#147;Award Shares&#148;). Mr. Seabrooke and Mr. Edwards are both members
of the Company&#146;s Board of Directors. The Award Shares were granted pursuant to
the Company&#146;s Amended and Restated 2004 Stock Incentive Plan.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One-third of the Award Shares
will vest on each of February 6, 2009, 2010 and 2011. Vesting of the Award
Shares is conditioned upon each recipient&#146;s continuous service with the Company
as a member of its Board of Directors through the applicable vesting date. If
either recipient ceases to be a member of the Board of Directors for any reason,
all of his Award Shares that are not then vested and nonforfeitable will be
immediately forfeited and transferred to the Company upon such cessation for no
consideration. Until 11 months after an Award Share becomes vested and
nonforfeitable, it may not be sold, assigned, transferred, pledged,
hypothecated, exchanged, or disposed of in any way (whether by operation of law
or otherwise). The Board of Directors of Net1 intends to make similar grants to
Mr. Seabrooke and Mr. Edwards annually hereafter, with such grants having a
value of $50,000 worth of restricted shares of Company common stock in the case
of Mr. Seabrooke and $35,000 worth of restricted shares of Company common stock
in the case of Mr. Edwards. In each case the number of shares will be derived by
dividing such values by the closing price of the Company&#146;s common stock on the
date of grant.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The foregoing description is
qualified in its entirety by the Restricted Stock Agreements between the Company
and each of Mr. Seabrooke and Mr. Edwards, which will be filed with the
Company&#146;s Form 10-Q for the quarter ended March 31, 2008.</P>
<P align=center>[remainder of page intentionally left blank; signature page
follows]</P>
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noShade SIZE=5>
<A name=page_3></A>
<P align=center><B>SIGNATURES</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR vAlign=top>
    <TD width="5%" align=left >&nbsp; </TD>
    <TD align=left width="45%">&nbsp; </TD>
    <TD align=left  colSpan=2><B>NET 1 UEPS TECHNOLOGIES, INC.</B> </TD>
  </TR>
  <TR>
    <TD width="5%" >&nbsp; </TD>
    <TD width="45%">&nbsp; </TD>
    <TD width="5%"  >&nbsp;</TD>
    <TD width="45%">&nbsp; </TD>
  </TR>
  <TR>
    <TD width="5%" >&nbsp; </TD>
    <TD width="45%">&nbsp; </TD>
    <TD width="5%"  >&nbsp;</TD>
    <TD width="45%">&nbsp; </TD>
  </TR>
  <TR vAlign=top>
    <TD width="5%" align=left >Date: </TD>
    <TD align=left width="45%">February 8, 2008 </TD>
    <TD align=left width="5%"  >By:</TD>
    <TD align=left width="45%"><U>/s/ Serge C.P. Belamant</U> </TD>
  </TR>
  <TR vAlign=top>
    <TD width="5%" align=left >&nbsp; </TD>
    <TD align=left width="45%">&nbsp; </TD>
    <TD align=left width="5%"  >&nbsp;</TD>
    <TD align=left width="45%">Dr. Serge C.P. Belamant </TD>
  </TR>
  <TR vAlign=top>
    <TD width="5%" align=left >&nbsp; </TD>
    <TD align=left width="45%">&nbsp; </TD>
    <TD align=left width="5%"  >&nbsp;</TD>
    <TD align=left width="45%">Chief Executive Officer </TD>
  </TR></TABLE><BR>
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</DOCUMENT>
</SEC-DOCUMENT>
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