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Subsequent Events
3 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events
21.
Subsequent events
Agreement to sell shares in Cell C
As discussed in Note 5, the Company holds, through
Lesaka SA, shares in Cell C. It is intended that a restructure
of Cell C will
be undertaken, which will include the establishment of a
new holding company for Cell C, Cell
C Holdings Limited (“Cell C Listco”),
and the
transfer of
shares in
Cell C by
its existing
shareholders to
Cell C Listco
in exchange
for Cell
C Listco
issuing shares
to the
existing
Cell
C
shareholders
(the
“Flip-up”).
It
is
further
intended
that
the
shares
of
Cell C
Listco
will
be
listed
on
the
securities
exchange
operated
by the
JSE Limited
(the “Listing”).
On October
31,
2025,
in considering
the proposed
restructure
and
Listing,
Lesaka SA entered
into an agreement with
The Prepaid Company Proprietary
Limited (“TPC”) to dispose
of its shares in
Cell C (or,
after the Flip-up is implemented, its shares in Cell C Listco) (“Relevant Shares”), if certain conditions are met. Under the terms of the
agreement, if:
(1)
the Listing occurs by November 30, 2025, and the value of Lesaka SA’s
shares in Cell C is less than ZAR
50
million , then
Lesaka SA
can choose
to either hold
the shares,
or sell the
Relevant Shares
to TPC
for a purchase
price equal
to ZAR
50
million; or
(2)
the Listing does
not occur by
November 30, 2025 (or, earlier
than this date,
it is determined
that the Listing
will not proceed),
then Lesaka
SA will sell
the Relevant Shares
to TPC for
ZAR
35
million. If, after
this sale and
before April
30, 2026, the
Listing occurs and the list price per share
(“A”) is more than the price
paid per Lesaka share (the aggregate ZAR
35
million)
(“B”), then TPC shall pay an amount equal to the difference between A
and B, multiplied by the number of Relevant Shares
to Lesaka SA as a top-up to the purchase consideration.
Issue of guarantee to RMB in October 2025
In October
2025, the
Company provided
a ZAR
19.0
million ($
1.1
million) guarantee
to RMB in
connection with
a guarantee
facility extended by RMB to Sandulela under the terms of February 2025
Common Terms Agreement.