<SEC-DOCUMENT>0001062993-18-004567.txt : 20181113
<SEC-HEADER>0001062993-18-004567.hdr.sgml : 20181113
<ACCEPTANCE-DATETIME>20181113164557
ACCESSION NUMBER:		0001062993-18-004567
CONFORMED SUBMISSION TYPE:	NT 10-Q
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20180930
FILED AS OF DATE:		20181113
DATE AS OF CHANGE:		20181113
EFFECTIVENESS DATE:		20181113

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:		NT 10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-31203
		FILM NUMBER:		181178666

	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>NT 10-Q
<SEQUENCE>1
<FILENAME>form12b-25.htm
<DESCRIPTION>FORM NT 10-Q
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<TITLE>NET 1 UEPS TECHNOLOGIES, INC.: Form 12b-25 - Filed by newsfilecorp.com</TITLE>
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		<p align="center"><font size="5"><B>UNITED STATES<br>SECURITIES AND EXCHANGE COMMISSION</B></font><br>Washington, D.C. 20549</p>
		<p align="center"><b><font size="5">FORM 12b-25</font></b></p>
		<p align="center"><B>NOTIFICATION OF LATE FILING</B> </p>
		<p align="center"><I>(Check one): </I> </p></td>


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	<tr><td valign=top>&nbsp;</td><td align=center style="border-width:1px;border-style:solid;font-size:8pt;"><p>SEC FILE NUMBER<br>000-31203</p></td></tr>
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	<tr><td valign=top>&nbsp;</td><td align=center style="border-width:1px;border-style:solid;font-size:8pt;"><p>CUSIP NUMBER<br>64107N206</p></td></tr>
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<P align="center">
[<font style="font-size:1px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>] Form 10-K&nbsp;&nbsp;&nbsp;
[<font style="font-size:1px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>] Form 20-F&nbsp;&nbsp;&nbsp;
[<font style="font-size:1px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>] Form 11-K<br>
[ x ] Form 10-Q&nbsp;&nbsp;&nbsp;
[<font style="font-size:1px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>] Form 10-D&nbsp;&nbsp;&nbsp;
[<font style="font-size:1px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>] Form N-SAR&nbsp;&nbsp;&nbsp;
[<font style="font-size:1px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>] Form N-CSR</P>


<P align="center">For Period Ended: September 30, 2018</P>

<TABLE width=220 border=0 align=center cellpadding=0 cellspacing=0 style="font-size:10pt;border-color:black;border-collapse:collapse;">
<TR><TD width=25>[<font style="font-size:1px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>]</TD><TD>Transition Report on Form 10-K</TD></TR>
<TR><TD width=25>[<font style="font-size:1px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>]</TD><TD>Transition Report on Form 20-F</TD></TR>
<TR><TD width=25>[<font style="font-size:1px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>]</TD><TD>Transition Report on Form 11-K</TD></TR>
<TR><TD width=25>[<font style="font-size:1px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>]</TD><TD>Transition Report on Form 10-Q</TD></TR>
<TR><TD width=25>[<font style="font-size:1px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>]</TD><TD>Transition Report on Form N-SAR</TD></TR>
</TABLE>


<p align="center">For the Transition Period Ended: </p>
<table width=80% border=1 bordercolor=#000000 align=center><tr><td align=center><font size=2>Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.</font></td></tr></table>

<P align="center">If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:<br></P>
<P align="center"><B>PART I &#151; REGISTRANT INFORMATION</B></P>
<P align="center"><b><font size=5>NET 1 UEPS TECHNOLOGIES, INC.</font></b><BR>Full Name of Registrant</P>
<P align="center"><b>N/A</b><BR>Former Name if Applicable</P>
<P align="center"><b>President Place, 4th Floor, Cnr. Jan Smuts Avenue and Bolton Road</b><BR>Address of Principal Executive Office <I>(Street and Number)</I></P>
<P align="center"><b>Rosebank, Johannesburg, South Africa</b><BR>City, State and Zip Code</P>

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<P align="center"><B>PART II &#151; RULES 12b-25(b) AND (c)</B> </P>
<P align="justify">If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)</P>

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        <font size="2" face="WINGDINGS">&#120;</font>
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		<TD valign="top" width="5%">(a)</TD>
		<TD valign="top">The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense</TD>
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		<TD valign="top" width="5%">(b)</TD>
		<TD valign="top"><div align="justify">The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and</div></TD>
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		<TD valign="top" width="5%">(c)</TD>
		<td valign="top">The accountant's statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.</td>
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<P align="center"> <B>PART III &#151; NARRATIVE</B> </P>
<P align="justify">State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q,10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.</P>
<P align="justify">Net 1 UEPS Technologies, Inc. (the "Company") has experienced unexpected delays in the filing of its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2018 (the "Form 10-Q") within the prescribed time period due to the circumstances described below. The delays could not be eliminated without unreasonable effort or expense.</P>
<P align="justify">As disclosed in its Current Report on Form 8-K filed with the
Securities and Exchange Commission on November 8, 2018, the Company's previously
issued consolidated financial statements as of and for the year ended June 30,
2018 should no longer be relied upon due to the Company's re-evaluation of the
classification of its investment in Cell C Proprietary Limited (&quot;Cell C&quot;).
Although the Company elected the fair value option on acquisition of its
investment in Cell C, an unlisted company, this investment was incorrectly
presented as available-for-sale and the change in its fair value of $25.2
million, net of taxation of $7.3 million, was incorrectly recorded in other
comprehensive income for the year ended June 30, 2018. The investment in Cell C
should have been accounted for at fair value with changes in fair value recorded
in the statement of operations. The Company's restated consolidated financial
statements will reflect the changes in fair value of the investment in Cell C in
the consolidated statement of operations. </P>
<P align="justify">The Company intends to file an amended Annual Report on Form
10-K for the year ended June 30, 2018 (the &quot;Form 10-K/A&quot;) to restate its
consolidated financial statements as of and for the year ended June 30, 2018,
and to revise selected financial data for the year ended June 30, 2018 and the
quarterly information for fiscal 2018 to reflect these change, in each case to
reflect the correction of this error. Additionally, the Company is reassessing
the effectiveness of the Company's internal control over financial reporting in
light of the errors described above. </P>
<P align="justify">The Company is working to prepare the Form 10-K/A and complete the restatement and revisions described above as soon as practicable and, therefore, is not able to complete its interim unaudited financial statements and file the Form 10-Q on or prior to the due date without unreasonable effort or expense. The Company currently expects that it will be able to conclude the remaining work in time to file the Form 10-Q within the five day extension period provided by Rule 12b-25. </P>
<P align="center"><B>PART IV &#151; OTHER INFORMATION</B> </P>

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		<td width="5%" valign="top">(1)</td>
		<td>Name and telephone number of person to contact in regard to this notification</td>
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		<TD>&nbsp;</TD>
		<TD align="center"><b><u>Alex M.R. Smith</u></b></TD>
		<TD align="center"><b><u>(2711)</u></b></u></TD>
		<TD align="center"><b><u>343-2000</u></b></TD>
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		<TD width="30%" align="center">(Name)</TD>
		<TD align="center">(Area Code)</TD>
		<TD width="30%" align="center">(Telephone Number)</TD>
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<br>

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		<td width="5%" valign="top">(2)</td>
		<td align="justify">
		<p>Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed ? If answer is no, identify report(s).</p>
		[ x ] Yes [<font style="font-size:1px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>] No
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		<td valign="top">(3)</td>
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		<p>Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof ?</p>
		[<font style="font-size:1px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>] Yes [ x ] No
		<p>If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.</p>
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<P align="center"><b><u>NET 1 UEPS TECHNOLOGIES, INC. </u></b><BR>(Name of Registrant as Specified in Charter)</P>
<P align="center">has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.</P>

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		<TD width="50%">Date: November 13, 2018</TD>
		<TD width="5%">By:</TD>
		<TD style="border-bottom-width:1px;border-bottom-style:solid;"><i>/s/ Alex M.R. Smith</i></TD>
	</TR>
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		<TD width="50%">&nbsp;</TD>
		<TD width="5%">&nbsp;</TD>
		<TD>Alex M.R. Smith</TD>
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		<TD>&nbsp;</TD>
		<TD>Title:</TD>
		<TD>Chief Financial Officer</TD>
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</TABLE>

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