<SEC-DOCUMENT>0000949377-20-000016.txt : 20200131
<SEC-HEADER>0000949377-20-000016.hdr.sgml : 20200131
<ACCEPTANCE-DATETIME>20200131135627
ACCESSION NUMBER:		0000949377-20-000016
CONFORMED SUBMISSION TYPE:	SC 13D
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20200131
DATE AS OF CHANGE:		20200131

SUBJECT COMPANY:	

	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:		SC 13D
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-79903
		FILM NUMBER:		20564510

	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

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			International Value Advisers, LLC
		CENTRAL INDEX KEY:			0001456417
		IRS NUMBER:				412253838

	FILING VALUES:
		FORM TYPE:		SC 13D

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		212-584-3570

	MAIL ADDRESS:	
		STREET 1:		717 FIFTH AVENUE
		STREET 2:		10TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D
<SEQUENCE>1
<FILENAME>iva_13d.htm
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: black 0.75pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION
</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WASHINGTON, D.C. 20549 </B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: black 0.75pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0.25in 0 0; text-align: center"><B>SCHEDULE 13D </B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>INFORMATION TO BE INCLUDED
IN STATEMENTS FILED PURSUANT </B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>TO &sect; 240.13d-1(a) AND AMENDMENTS
THERETO FILED PURSUANT TO &sect; 240.13d-2(a) </B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Amendment No. )* </B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Net 1 UEPS Technologies Inc. </B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Name of Issuer) </B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 24pt 0 0; text-align: center"><B>Common Stock, par value $0.001
</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Title of Class of Securities) </B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>251893103 </B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(CUSIP Number) </B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Charles de Vaulx</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>International Value Advisers, LLC</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>717 Fifth Avenue, 10th Floor </B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>New York, NY 10022</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(212) 584-3570</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Name, Address and Telephone Number
of Person Authorized to Receive Notices and Communications) </B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 24pt 0 0; text-align: center"><B>January 30, 2020</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Date of Event Which Requires Filing
of This Statement) </B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0.25in 0 0; text-indent: 17.25pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule
13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box </FONT><FONT STYLE="font-family: Wingdings; font-size: 9pt">x</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.
</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: black 0.75pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Note.</B> Schedules filed in paper format shall include
a signed original and five copies of the schedule, including all exhibits. <I>See</I> &sect; 240.13d-7 for other parties to whom
copies are to be sent.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; font: 11pt/107% Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD>
    <TD STYLE="width: 97%; font: 11pt/107% Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The remainder of this cover page shall be filled out for a reporting person&rsquo;s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 17.25pt">The information required on
the remainder of this cover page shall not be deemed to be &ldquo;filed&rdquo; for the purpose of Section 18 of the Securities
Exchange Act of 1934 (&ldquo;Act&rdquo;) or otherwise subject to the liabilities of that section of the Act but shall be subject
to all other provisions of the Act (however, <I>see</I> the <I>Notes.</I>)&nbsp;<br><br><br>sf-3665662 <BR STYLE="clear: both">
</P>


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    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 17.25pt">CUSIP No. 251893103</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1. </FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-top: black 1pt solid; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Names of Reporting Persons.</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">I.R.S. Identification Nos. of above persons (entities only).</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">International Value Advisers, LLC</P></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Check the Appropriate Box if a Member of a Group (See Instructions)</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">(a) &#9744; (b) &#9744;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">&nbsp;</P></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">SEC Use Only</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">&nbsp;</P></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">4.</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Source of Funds</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">AF</P></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5. </FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Check Box if Disclosure of Legal Proceeding is Required Pursuant
        to Items 2(d) or 2(e)</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&#9744;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Citizenship or Place of Organization</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">Delaware, United States</P></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" ROWSPAN="4" STYLE="border-left: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Number of</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Shares</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Beneficially</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">owned by</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Each</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Reporting</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Person</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt; text-align: center">With:</P></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="1" STYLE="vertical-align: top; border-bottom: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7. </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Sole Voting Power</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">0</P></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="1" STYLE="vertical-align: top; border-bottom: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Shared Voting Power</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">6,711,492</P></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="1" STYLE="vertical-align: top; border-bottom: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Sole Dispositive Power</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">0</P></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="1" STYLE="vertical-align: top; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Shared Dispositive Power</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">7,107,962</P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Aggregate Amount Beneficially Owned by Each Reporting Person</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">7,107,962</P></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Check if the Aggregate Amount in Row (9) Excludes Certain
        Shares (See Instructions)</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">&#9744;</P></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Percent of Class Represented by Amount in Row (11)</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">12.6%</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">&nbsp;</P></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Type of Reporting Person (See Instructions)</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;IA</P></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 80%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 17.25pt"><br><br><br>sf-3665662 </P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 17.25pt">CUSIP No. 251893103</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1. </FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-top: black 1pt solid; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Names of Reporting Persons.</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">I.R.S. Identification Nos. of above persons (entities only).</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">Charles de Vaulx</P></TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Check the Appropriate Box if a Member of a Group (See Instructions)</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">(a) &#9744; (b) &#9744;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">&nbsp;</P></TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">SEC Use Only</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">&nbsp;</P></TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">4.</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Source of Funds</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">OO</P></TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5. </FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Check Box if Disclosure of Legal Proceeding is Required Pursuant
        to Items 2(d) or 2(e)</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&#9744;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Citizenship or Place of Organization</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">France</P></TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" ROWSPAN="4" STYLE="border-left: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Number of</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Shares</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Beneficially</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">owned by</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Each</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Reporting</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Person</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt; text-align: center">With:</P></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7. </FONT></TD>
    <TD COLSPAN="1" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Sole Voting Power</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">0</P></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="1" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Shared Voting Power</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">5,743,782</P></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="1" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Sole Dispositive Power</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">0</P></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="1" STYLE="vertical-align: top; border-right: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Shared Dispositive Power</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">6,140,252</P></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Aggregate Amount Beneficially Owned by Each Reporting Person</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">6,140,252</P></TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Check if the Aggregate Amount in Row (9) Excludes Certain
        Shares (See Instructions)</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">&#9744;</P></TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Percent of Class Represented by Amount in Row (11)</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">10.9%</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">&nbsp;</P></TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Type of Reporting Person (See Instructions)</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;IN</P></TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 79%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 17.25pt"><br><br><br>sf-3665662 </P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 17.25pt">CUSIP No. 251893103</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1. </FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-top: black 1pt solid; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Names of Reporting Persons.</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">I.R.S. Identification Nos. of above persons (entities only).</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">Charles de Lardemelle</P></TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Check the Appropriate Box if a Member of a Group (See Instructions)</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">(a) &#9744; (b) &#9744;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">&nbsp;</P></TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">SEC Use Only</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">&nbsp;</P></TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">4.</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Source of Funds</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">OO</P></TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5. </FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Check Box if Disclosure of Legal Proceeding is Required Pursuant
        to Items 2(d) or 2(e)</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&#9744;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Citizenship or Place of Organization</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">United States</P></TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" ROWSPAN="4" STYLE="border-left: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Number of</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Shares</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Beneficially</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">owned by</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Each</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Reporting</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Person</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt; text-align: center">With:</P></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7. </FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="1" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Sole Voting Power</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">967,710</P></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="1" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Shared Voting Power</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">5,743,782</P></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="1" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Sole Dispositive Power</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">967,710</P></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="1" STYLE="vertical-align: top; border-right: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Shared Dispositive Power</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">6,140,252</P></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Aggregate Amount Beneficially Owned by Each Reporting Person</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">7,107,962</P></TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Check if the Aggregate Amount in Row (9) Excludes Certain
        Shares (See Instructions)</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">&#9744;</P></TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Percent of Class Represented by Amount in Row (11)</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">12.6%</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt">&nbsp;</P></TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Type of Reporting Person (See Instructions)</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;IN</P></TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 79%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 17.25pt"><br><br><br>sf-3665662 </P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><B>EXPLANATORY NOTE</B></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">International Value Advisers, LLC previously filed a
statement on Schedule 13G with the Securities and Exchange Commission on February 13, 2019, as amended, with respect to the securities
that are the subject of this Schedule 13D pursuant to Rule 13d-1(c) under the Securities Exchange Act of 1934, as amended (the
&ldquo;Act&rdquo;).</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><B>Item 1. Security and Issuer</B></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in">This statement relates to the
common stock, par value $0.001 per share (the &ldquo;Shares&rdquo;), of Net 1 UEPS Technologies, Inc., a Florida corporation
(the &ldquo;Issuer&rdquo;), with principal executive offices at President Place, 4<SUP>th</SUP> Floor, Cnr. Jan Smuts Avenue
&amp; Bolton Road, Rosebank, Johannesburg, South Africa.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><B>Item 2. Identity and Background</B></P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(a)</FONT><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The Shares reported herein are held by various separately managed account clients (the &ldquo;Managed
Accounts&rdquo;) and certain funds (the &ldquo;Funds&rdquo;) under the management and control of International Value Advisers,
LLC (&ldquo;IVA&rdquo;), a Delaware limited liability company and an investment adviser registered under the Investment Advisers
Act of 1940. The Funds are the following: (i) IVA Worldwide Fund, an investment company registered under the Investment Company
Act of 1940, as amended (&ldquo;WORLD&rdquo;); (ii) IVA International Fund, an investment company registered under the Investment
Company Act of 1940, as amended (&ldquo;INTER&rdquo;); (iii) IVA Global Fund (Delaware) L.P., a Delaware limited partnership (&ldquo;IVAGF&rdquo;);
(iv) IVA Overseas Master Fund L.P., a Cayman Islands exempted limited partnership (&ldquo;IVAOMF&rdquo;); and (iv) IVA Global SICAV,
an investment company registered in the Grand Duchy of Luxembourg as an undertaking for collective investment in transferable securities
(&ldquo;SICAV&rdquo;). IVA is also the managing partner of IVAGF&rsquo;s and IVAOMF&rsquo;s general partner. Charles de Vaulx and
Charles (&ldquo;Chuck&rdquo;) de Lardemelle are co-Chief Investment Officers (each a &ldquo;CIO&rdquo;, and together, the &ldquo;CIOs&rdquo;)
for, WORLD, INTER, IVAGF, IVAOMF and all but one Managed Account and, as such, have the authority to make decisions regarding disposition
of their Shares and the authority to make decisions regarding voting of some of the shares. Chuck de Lardemelle also acts as the
sole Portfolio Manager for a Managed Account and the SICAV, and, as such, has the authority to make decision regarding disposition
of their shares and the authority to make decisions regarding voting all of their Shares. </FONT></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt 0.25in">IVA and the CIOs are each referred to herein individually
as a &ldquo;Reporting Person&rdquo; and collectively as the &ldquo;Reporting Persons.&rdquo;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(b)</FONT><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT> <FONT STYLE="font-size: 10pt">The principal business address of IVA and the CIOs is 717 Fifth Avenue, 10<SUP>th</SUP> Floor,
New York, NY 10022. </FONT></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(c)</FONT><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The principal business of IVA and the CIOs is to invest funds for client accounts under their
management.</FONT></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(d)</FONT><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Neither IVA nor the CIOs has, during the last five years, been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors). </FONT></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(e)</FONT><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Neither IVA nor the CIOs has, during the last five years, been a party to a civil proceeding
of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment,
decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities
laws or finding any violation with respect to such laws.</FONT></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(f)</FONT><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">IVA is a Delaware limited liability company. Charles de Vaulx and Chuck de Lardemelle are
both citizens of the United States.</FONT></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><B>Item 3. Source and Amount of Funds or Other Consideration</B></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in">The Shares reported herein were acquired
at an aggregate purchase amount of $60,000,425. The Shares were acquired with investment funds of the Managed Accounts and Funds
advised by IVA.<br><br><br>sf-3665662 </P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><B>Item 4. Purpose of Transaction</B></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in">IVA originally acquired the Shares
for investment purposes in the ordinary course of business.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in">In pursuing such investment purposes,
the Reporting Persons may further purchase, hold, vote, trade, dispose or otherwise deal in the Shares at times, and in such manner,
as they deem advisable to benefit from changes in market prices of such Shares, changes in the Issuer's operations, business strategy
or prospects, or from sale or merger of the Issuer.&nbsp; To evaluate such alternatives, the Reporting Persons will routinely monitor
the Issuer's operations, prospects, business development, management, competitive and strategic matters, capital structure, and
prevailing market conditions, as well as alternative investment opportunities, liquidity requirements of the Reporting Persons
and other investment considerations.&nbsp; Consistent with its investment research methods and evaluation criteria, the Reporting
Persons may discuss such matters with management or directors of the Issuer, other shareholders, industry analysts, existing or
potential strategic partners or competitors, investment and financing professionals, sources of credit and other investors.&nbsp;
Such factors and discussions may materially affect, and result in, the Reporting Persons' modifying their ownership of the Issuer&rsquo;s
Shares, exchanging information with the Issuer pursuant to appropriate confidentiality or similar agreements, proposing changes
in the Issuer's operations or board of directors, governance or capitalization, or in proposing one or more of the other actions
described in subsections (a) through (j) of Item 4 of Schedule 13D.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in">The Reporting Persons reserve the
right to formulate other plans and/or make other proposals, and take such actions with respect to their investment in the Issuer,
including any or all of the actions set forth in paragraphs (a) through (j) of Item 4 of Schedule 13D, or acquire additional Shares
or dispose of all the Shares beneficially owned by them, in the public market or privately negotiated transactions.&nbsp; The Reporting
Persons may at any time reconsider and change their plans or proposals relating to the foregoing.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><B>Item 5. Interest in Securities of the Issuer</B></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in">The aggregate percentage of Share
reportedly owned by each person named herein is based upon 56,568,425 Shares outstanding, as of November 4, 2019 and reported in
the Issuer&rsquo;s Form 10-Q filed on November 7, 2019.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD><FONT STYLE="font-size: 10pt">IVA</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">a)</FONT></TD><TD><FONT STYLE="font-size: 10pt">As of January 31, 2020, 7,107,962 Shares in aggregate were deemed to be beneficially owned by
IVA, as the investment manager to i) WORLD which owns 2,644,224 Shares constituting 4.7% of the Issuer&rsquo;s outstanding Shares,
ii) INTER which owns 2,281,099 Shares constituting 4.0% of the Issuer&rsquo;s outstanding Shares, iii) IVAGF which owns 102,872
Shares constituting 0.2% of the Issuer&rsquo;s outstanding Shares, iv) IVAOMF which owns 255,757 Shares constituting 0.5%, iv)
SICAV which owns 653,936 Shares constituting 1.2% of the Issuer&rsquo;s outstanding Shares, and v) the Managed Accounts which own
1,170,074 Shares constituting 2.1% of the Issuer&rsquo;s outstanding Shares.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt 0.75in">Percentage: 12.6%</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">b)</FONT></TD><TD><FONT STYLE="font-size: 10pt">Sole power to vote or direct the vote: 0</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.75in">Shared power to vote or direct the vote: 6,711,492</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.75in">Sole power to dispose or direct the disposition:
0</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.75in">Shared power to dispose or direct the disposition:
7,107,962</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">2.</FONT></TD><TD><FONT STYLE="font-size: 10pt">Charles de Vaulx</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">a)</FONT></TD><TD><FONT STYLE="font-size: 10pt">Mr. De Vaulx, as co-CIO and managing member of IVA, may be deemed the beneficial owner of 6,140,252
Shares owned by the WORLD, INTER, IVAGF, IVAOMF and all but one Managed Account.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.75in">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.75in">Percentage: 10.9%</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><br><br><br>sf-3665662 </P>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">b)</FONT></TD><TD><FONT STYLE="font-size: 10pt">Sole power to vote or direct the vote: 0</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.75in">Shared power to vote or direct the vote: 5,743,782</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.75in">Sole power to dispose or direct the disposition:
0</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.75in">Shared power to dispose or direct the disposition:
6,140,252</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">3.</FONT></TD><TD><FONT STYLE="font-size: 10pt">Chuck de Lardemelle</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">a)</FONT></TD><TD><FONT STYLE="font-size: 10pt">Mr. de Lardemelle, as co-CIO and managing member of IVA, may be deemed the beneficial owner of
7,107,962 Shares owned by the Funds and the Managed Accounts.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.75in">Percentage: 12.6%</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">b)</FONT></TD><TD><FONT STYLE="font-size: 10pt">Sole power to vote or direct the vote: 967,710</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.75in">Shared power to vote or direct the vote: 5,743,782</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.75in">Sole power to dispose or direct the disposition:
967,710</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt 0.75in">Shared power to dispose or direct the disposition:
6,140,252</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in">As of January 31, 2020, the Reporting
Persons collectively beneficially owned an aggregate of 7,107,962 Shares, constituting 12.6% of the Issuer&rsquo;s outstanding
Shares.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in">Each Reporting Person, as a member
of a &ldquo;group&rdquo; with the other Reporting Persons, may be deemed beneficial owner of the Shares directly owned by the other
Reporting Persons. Each Reporting Person disclaims beneficial ownership of such Shares except to the extent of his or its pecuniary
interest therein.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">c)</FONT></TD><TD><FONT STYLE="font-size: 10pt">A list of transactions in the Shares that were effected by the Reporting Persons during the past
60 days is attached as <U>Exhibit A</U> hereto and is incorporated herein by reference. All of the transactions listed on <U>Exhibit
A</U> were effected in the open market.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">d)</FONT></TD><TD><FONT STYLE="font-size: 10pt">No other person is known to have the right to receive or the power to direct the receipt of dividends
from, or the proceeds from the sale of, Shares other than the Funds and Managed Accounts that IVA manages. </FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 0 58.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">e)</FONT></TD><TD><FONT STYLE="font-size: 10pt">Not applicable.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><B>Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer</B></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in">On January 31, 2020 the
Reporting Persons entered into a Joint Filing Agreement in which, among other things, the Reporting Persons agreed to joint
filing on behalf of each of them of statements on Schedule 13D with respect to the securities of the Issuer. The Joint Filing
Agreement is attached hereto <U>Exhibit B</U>.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><B>Item 7. Material to be Filed as Exhibits</B></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt 94.5pt; text-indent: -94.5pt"><B>&#9;</B><U>Exhibit A</U>&#9;Transactions
in Shares that were effected by IVA during the past sixty days.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&#9;<U>Exhibit B</U>&#9;Joint Filing Agreement</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><br><br><br>sf-3665662 </P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">After reasonable inquiry and to
the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true,
complete and correct.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0">Dated: January 31, 2020</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in"><B>International Value Advisers,
LLC</B></P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">By:&#9; &#9;<U>/s/ Charles de
Vaulx&#9;</U></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:&#9; &#9;Charles de Vaulx</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:&#9; &#9;Managing Partner</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in"><B>Charles de Vaulx</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 3.5in"><U>/s/ Charles de Vaulx&#9;</U></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in"><B>Charles de Lardemelle</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in"><U>/s/ Charles de Lardemelle&#9;<BR STYLE="clear: both">
</U></P>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><br><br><br>sf-3665662 </P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Exhibit A&#9;Transactions in Shares that were effected by
IVA during the past sixty days</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -1in">Exhibit B&#9;Joint Filing Agreement</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><br><br><br>sf-3665662 </P>

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<DOCUMENT>
<TYPE>EX-1
<SEQUENCE>2
<FILENAME>iva_ex-1.htm
<DESCRIPTION>TRANSACTIONS DURING PAST 60 DAYS
<TEXT>
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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit A </B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>TRANSACTIONS DURING PAST 60
DAYS</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Reporting Persons engaged
in the following transactions in shares of Common Stock of the Issuer during the past 60 days:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; line-height: 107%">&nbsp;</TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 107%">&nbsp;</TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Account</U></B></FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 107%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Date of Transaction</U></B></FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; line-height: 107%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Transaction Type (Purchase or Sale)</U></B></FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; line-height: 107%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Shares</U></B></FONT></TD>
    <TD COLSPAN="7" STYLE="vertical-align: bottom; line-height: 107%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Price</U></B></FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">IVAGF</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">12/4/2019</FONT></TD>
    <TD NOWRAP COLSPAN="3" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">Sale</FONT></TD>
    <TD NOWRAP COLSPAN="3" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">18,407</FONT></TD>
    <TD NOWRAP COLSPAN="7" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">$3.60</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">WORLD</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">12/4/2019</FONT></TD>
    <TD NOWRAP COLSPAN="3" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">Sale</FONT></TD>
    <TD NOWRAP COLSPAN="3" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">62,495</FONT></TD>
    <TD NOWRAP COLSPAN="7" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">$3.60</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">WORLD</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">12/6/2019</FONT></TD>
    <TD NOWRAP COLSPAN="3" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">Purchase</FONT></TD>
    <TD NOWRAP COLSPAN="3" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">81,081</FONT></TD>
    <TD NOWRAP COLSPAN="7" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">$3.67</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">INTER</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">12/20/2019</FONT></TD>
    <TD NOWRAP COLSPAN="3" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">Sale</FONT></TD>
    <TD NOWRAP COLSPAN="3" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">72,376</FONT></TD>
    <TD NOWRAP COLSPAN="7" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">$3.77</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">WORLD</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">12/20/2019</FONT></TD>
    <TD NOWRAP COLSPAN="3" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">Sale</FONT></TD>
    <TD NOWRAP COLSPAN="3" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">175,923</FONT></TD>
    <TD NOWRAP COLSPAN="7" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">$3.77</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">Managed Account</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">12/20/2019</FONT></TD>
    <TD NOWRAP COLSPAN="3" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">Sale</FONT></TD>
    <TD NOWRAP COLSPAN="3" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">5,533</FONT></TD>
    <TD NOWRAP COLSPAN="7" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">$3.77</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">Managed Account</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">12/20/2019</FONT></TD>
    <TD NOWRAP COLSPAN="3" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">Sale</FONT></TD>
    <TD NOWRAP COLSPAN="3" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">6,033</FONT></TD>
    <TD NOWRAP COLSPAN="7" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">$3.77</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">IVAGF</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">1/2/2020</FONT></TD>
    <TD NOWRAP COLSPAN="3" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">Sale</FONT></TD>
    <TD NOWRAP COLSPAN="3" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">13,415</FONT></TD>
    <TD NOWRAP COLSPAN="7" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">$3.74</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">IVAOMF</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">1/2/2020</FONT></TD>
    <TD NOWRAP COLSPAN="3" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">Sale</FONT></TD>
    <TD NOWRAP COLSPAN="3" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">11,100</FONT></TD>
    <TD NOWRAP COLSPAN="7" STYLE="vertical-align: bottom; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">$3.74</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 27%">&nbsp;</TD>
    <TD STYLE="width: 19%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><br><br><br>sf-3665662 </P>




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<DOCUMENT>
<TYPE>EX-2
<SEQUENCE>3
<FILENAME>iva_ex-2.htm
<DESCRIPTION>JOINT FILING AGREEMENT
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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit B </B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>JOINT FILING AGREEMENT </B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 17.25pt">In accordance with Rule 13d-1(k)
under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them
of a statement on Schedule 13D (including amendments thereto) with respect to the common stock, par value $0.001 per share, of
Net 1 UEPS Technologies Inc. and further agree that this Joint Filing Agreement be included as an Exhibit to such joint filing.
In evidence thereof, the undersigned hereby execute this Joint Filing Agreement.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0">Dated: January 31, 2020</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in"><B>International Value Advisers,
LLC</B></P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0 0 0 4in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">By:&#9; &#9;<U>/s/ Charles de
Vaulx&#9;</U></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Name:&#9; &#9;Charles de Vaulx</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Title:&#9; &#9;Managing Partner</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 4in">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt 3in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt 3in; text-indent: 0.5in"><B>Charles de Vaulx</B></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt 3in; text-indent: 0.5in"><U>/s/ Charles de Vaulx&#9;</U></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt 3in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt 3in; text-indent: 0.5in"><B>Charles de Lardemelle</B></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt 3in; text-indent: 0.5in"><U>/s/ Charles de Lardemelle&#9;</U></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt 3in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><br><br><br>sf-3665662 </P>


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