<SEC-DOCUMENT>0001062993-18-004956.txt : 20181207
<SEC-HEADER>0001062993-18-004956.hdr.sgml : 20181207
<ACCEPTANCE-DATETIME>20181207161859
ACCESSION NUMBER:		0001062993-18-004956
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20181207
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
FILED AS OF DATE:		20181207
DATE AS OF CHANGE:		20181207

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:		181223680

	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>FORM 8-K
<TEXT>
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   <TITLE>Net 1 UEPS Technologies, Inc.: Form 8-K - Filed by newsfilecorp.com</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
</B></P>
<P align=center>___________________________ </P>
<P align=center><B><FONT size=5>FORM 8-K </FONT></B></P>
<P align=center><B>CURRENT REPORT <BR>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): <B>December
7, 2018 (December 5, 2018) </B></P>
<P align=center><B><FONT size=5>NET 1 UEPS TECHNOLOGIES, INC. </FONT><BR></B>(Exact name of registrant as specified in its charter) </P>
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  <TR vAlign=top>
    <TD align=center><B>Florida </B></TD>
    <TD align=center width="33%"><B>000-31203 </B></TD>
    <TD align=center width="33%"><B>98-0171860 </B></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><BR>
<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 colSpan=2><B>President Place, 4<SUP>th
      </SUP>Floor, Cnr. Jan Smuts Avenue and Bolton Road </B></TD></TR>
  <TR vAlign=bottom>
    <TD align=center colSpan=2><B>Rosebank, Johannesburg, South Africa </B></TD></TR>
  <TR vAlign=top>
    <TD align=center>&nbsp; &nbsp; &nbsp;(Address of principal executive
      offices) </TD>
    <TD align=center width="50%">(ZIP Code) </TD></TR></TABLE>
<P align=justify>Registrant&#146;s telephone number, including area code:
<B>011-27-11-343-2000 </B></P>
<P align=justify>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=justify>[&nbsp;&nbsp; ] Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425) </P>
<P align=justify>[&nbsp;&nbsp; ] Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a -12) </P>
<P align=justify>[&nbsp;&nbsp; ] Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b)) </P>
<P align=justify>[&nbsp;&nbsp; ] Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c)) </P>
<P align=justify>Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (&#167; 230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167; 240.12b
-2 of this chapter).</P>
<P align=right>Emerging growth company [&nbsp; &nbsp;] </P>
<P align=justify>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. [&nbsp;&nbsp; ] </P>
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<!--$$/page=--><A name=page_2></A>
<P align=justify><B>Item 5.02 Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers. </B></P>
<P align=justify>As previously disclosed, Net 1 UEPS Technologies, Inc. (&#147;Net
1&#148;), through its wholly owned subsidiary, KSNET, Inc., entered into a three-year
service agreement with Mr. Phil-Hyun Oh, President of KSNET, on October 27,
2017. Under that agreement, Mr. Oh is entitled to receive an annual bonus of up
to KRW 564 million, comprising a quantitative and qualitative portion. On
December 5, 2018, the targets for fiscal 2019 related to the qualitative portion
of Mr. Oh&#146;s 2019 annual bonus were established. The targets for the quantitative
portion remain unchanged.</P>
<P align=justify>The qualitative portion of the 2019 annual bonus is capped at
KRW 200 million and is based on the achievement of the following targets during
fiscal 2019: </P>
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style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>Cooperation with Net 1 and its advisors
  to:</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 10%" align=justify>(A) redefine the KSNET business
strategy; (B) plan the implementation of the redefined business strategy; and
<BR>(C) advance the implementation of the redefined business strategy in
accordance with the agreed roadmap.</P>
<P style="MARGIN-LEFT: 10%" align=justify>Assessment will be measured against an
agreed dashboard up until the last practical date prior to assessment of key
performance indicators in August 2019. </P>
<P style="MARGIN-LEFT: 10%" align=justify>and </P>
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  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>Documentation of a succession plan (emergency and
      long-term) for the KSNET executive team.</P></TD></TR></TABLE><BR>
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<P align=center><B>SIGNATURES </B></P>
<P align=justify style="text-indent:5%">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. </P>
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  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%"><B>NET 1 UEPS TECHNOLOGIES, INC.</B> </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>Date: December 7, 2018 </TD>
    <TD align=left width="50%">By: <U>/s/ Alex M.R. Smith</U> </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%">Name: Alex M.R. Smith </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%">Title: Chief Financial Officer
</TD></TR></TABLE><BR>
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