<SEC-DOCUMENT>0001062993-19-001170.txt : 20190306
<SEC-HEADER>0001062993-19-001170.hdr.sgml : 20190306
<ACCEPTANCE-DATETIME>20190306161538
ACCESSION NUMBER:		0001062993-19-001170
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20190228
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190306
DATE AS OF CHANGE:		20190306

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:		19662702

	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 8K - 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
<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): March 6, 2019
(February 28, 2019)<B> </B></P>
<P align=center><B><U><FONT size=5>NET 1 UEPS TECHNOLOGIES, INC.
</FONT></U><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><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>
<P align=center><B>President Place, 4</B><B><SUP>th</SUP></B><B> Floor, Cnr. Jan
Smuts Avenue and Bolton Road <BR>Rosebank, Johannesburg, South Africa
<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=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>[ ] Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425) </P>
<P align=justify>[ ] Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a -12) </P>
<P align=justify>[ ] Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d -2(b)) </P>
<P align=justify>[ ] 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=justify>Emerging growth company [ ] </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. [ ] </P>
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<P align=justify><B>Item 1.01 Entry into a Material Definitive Agreement.
</B></P>
<P align=justify>On February 28, 2018, Net 1 UEPS Technologies Inc., through its
wholly owned South African subsidiary, Net1 Applied Technologies South Africa
Proprietary Limited (<B>&#147;Net1 SA&#148;</B>), 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<B><I> </I></B>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 (<B>&#147;DNI&#148;</B>)
from 55% to 38%. Under the terms of Net1 SA&#146;s 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.
</P>
<P align=justify>The transaction is subject to a number of customary closing
conditions and is expected to close by April 8, 2019.</P>
<P align=justify><B>Item 9.01. Financial Statements and Exhibits. </B></P>
<TABLE
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%">(d) </TD>
    <TD>
      <P align=justify>Exhibits</P></TD></TR></TABLE><BR>
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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>Exhibit</U> </TD>
    <TD align=left width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=center ><U>No.</U> </TD>
    <TD align=left width="90%"><U>Description</U> </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee ><a href="exhibit99-1.htm">99.1 </a></TD>
    <TD align=left width="90%" bgColor=#eeeeee><a href="exhibit99-1.htm">Press Release, dated March 6,
      2019, issued by Net 1 UEPS Technologies, Inc. </a></TD>
  </TR></TABLE>
<BR>
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<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, 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: March 6, 2019 </TD>
    <TD align=left width="50%">By: <U>/s/ Herman G. Kotz&#233;</U> </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="50%">Name: Herman G. Kotz&#233; </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="50%">Title: Chief Executive Officer
</TD></TR></TABLE><BR>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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   <TITLE>Net 1 UEPS Technologies, Inc.: Exhibit 99.1 - Filed by newsfilecorp.com</TITLE>
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<P align=right><B>Exhibit 99.1 </B></P>
<P align=justify><B>Net1 to reduce shareholding in DNI to 38% to settle ZAR 400
million vendor obligation </B></P>
<P align=justify>Johannesburg, March 6, 2019 &#150; Net 1 UEPS Technologies, Inc.
(&#147;Net1&#148; or the &#147;Company&#148;) today announced that it has, through its wholly owned
South African subsidiary, Net1 Applied Technologies South Africa Proprietary
Limited (&#147;Net1 SA&#148;), entered into a transaction with the current minority
shareholders of DNI-4PL Contracts Proprietary Limited (&#147;DNI&#148;), in terms of which
Net1 SA will reduce its shareholding in DNI from 55% to 38%. Under the terms of
Net1 SA&#146;s 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) and, as previously agreed, DNI
will distribute this amount to its other shareholders. Net1 SA will use the
proceeds from the sale to settle its ZAR 400 million obligation as full and
final settlement of the amount due pursuant to the DNI investment agreements.
</P>
<P align=justify>The transaction is subject to a number of customary closing
conditions and is expected to close by April 8, 2019.</P>
<P align=justify>&#147;As we continue our corporate strategic review of our entire
business, this transaction represents a first step in realizing our goals of a)
strengthening our balance sheet, b) focusing our efforts on fintech services,
and c) unlocking the value of our operating businesses and investment
portfolio,&#148; said Herman G. Kotz&#233;, Net1&#146;s Chief Executive Officer. </P>
<P align=justify><B>About Net1 (</B><B><U>www.net1.com</U></B><B>)</B></P>
<P align=justify>Net1 is a leading provider of transaction processing services,
financial inclusion products and services and secure payment technology. Net1
operates market-leading payment processors in South Africa and the Republic of
Korea. Net1 offers debit, credit and prepaid processing and issuing services for
all major payment networks. In South Africa, Net1 provides innovative low-cost
financial inclusion products, including banking, lending and insurance, and is a
leading distributor of mobile subscriber starter packs for Cell C, a South
African mobile network operator. Net1 leverages its strategic equity investments
in Finbond and Bank Frick (both regulated banks), and Cell C to introduce
products to new customers and geographies. Net1 has a primary listing on NASDAQ
(NasdaqGS: UEPS) and a secondary listing on the Johannesburg Stock Exchange
(JSE: NT1). Visit <U>www.net1.com</U> for additional information about Net1.
</P>
<P align=justify><B>Forward-Looking Statements</B> </P>
<P align=justify>This press release contains forward-looking statements that
involve substantial risks and uncertainties. All statements, other than
statements of historical fact, included in this press release regarding
strategy, future operations, future financial position, future revenues,
projected costs, prospects, plans and objectives of management are
forward-looking statements. The Company may not actually achieve the plans,
intentions or expectations disclosed in its forward-looking statements. Actual
results or events could differ materially from the plans, intentions and
expectations disclosed in the forward-looking statements that the Company makes.
Factors that might cause such differences include, but are not limited to: the
disposition not closing, as well as other factors, many of which are beyond the
Company&#146;s control; and other important factors included in the Company&#146;s reports
filed with the Securities and Exchange Commission, particularly in the &#147;Risk
Factors&#148; section of the Company&#146;s Annual Report on Form 10-K for the fiscal year
ended June 30, 2018, as such Risk Factors may be updated from time to time in
subsequent reports. The Company does not assume any obligation to update any
forward-looking statements, whether as a result of new information, future
events or otherwise.</P>
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<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0"><TR valign="top">
	<TD align=left>
<B>Investor Relations Contact:</B>
	</TD>
</TR>
<TR valign="top">
	<TD align=left>
Dhruv Chopra
	</TD>
</TR>
<TR valign="top">
	<TD align=left>
Head of Investor Relations
	</TD>
</TR>
<TR valign="top">
	<TD align=left>
Phone: +1- 917- 767-6722
	</TD>
</TR>
<TR valign="top">
	<TD align=left>
Email: <U>dchopra@net1.com</U>
	</TD>
</TR>
<TR>
	<TD>&nbsp;

	</TD>
</TR>
<TR valign="top">
	<TD align=left>
<B>Media Relations Contact:</B>
	</TD>
</TR>
<TR valign="top">
	<TD align=left>
Bridget von Holdt
	</TD>
</TR>
<TR valign="top">
	<TD align=left>
Business Director &ndash; BCW
	</TD>
</TR>
<TR valign="top">
	<TD align=left>
Phone: +27-82-610-0650
	</TD>
</TR>
<TR valign="top">
	<TD align=left>
Email: <U>bridget.vonholdt@bm</U><U>-africa.com</U>
	</TD>
</TR>
</TABLE>
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