Current Report Filing (8-k)
October 06 2016 - 9:28AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
October
6, 2016 (October 4, 2016)
NET 1 UEPS TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
Florida
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000-31203
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98-0171860
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(State or other jurisdiction
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(Commission
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(IRS Employer
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of incorporation)
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File Number)
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Identification No.)
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President Place, 4
th
Floor, Cnr. Jan
Smuts Avenue and Bolton Road
Rosebank, Johannesburg, South Africa
(Address of principal executive offices)
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(ZIP Code)
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Registrants telephone number, including area code:
011-27-11-343-2000
Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a -12)
[ ] Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
[ ] Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))
Item 1.01 Entry into a Material Definitive Agreement.
Investment in Blue Label Telecoms Limited
On October 4, 2016, Net 1 UEPS Technologies, Inc. (the
Company), through one of its subsidiaries, Net1 Applied Technologies South
Africa Proprietary Limited (Net1 SA), entered into a Share Subscription
Agreement (the Blue Label Subscription Agreement) with Blue Label Telecoms
Limited (Blue Label), a JSE-listed company which is a leading provider of
prepaid electricity and airtime in South Africa. Pursuant to the Blue Label
Subscription Agreement, Net1 SA will purchase approximately 117.9 million
ordinary shares of Blue Label at a price of ZAR16.96 per share, for an aggregate
purchase price of ZAR2.0 billion ($144.0 million) in cash. The Company expects
that the proceeds from Net1 SAs investment in Blue Label will be used to fund
an additional investment by Blue Label in Cell C (Proprietary) Limited, a
leading mobile provider in South Africa. Closing of the transaction is subject to
closing conditions and is expected to occur simultaneously with the closing of
Blue Labels Cell C investment.
The Company expects to fund the transaction through a
combination of cash resources, a debt facility from a South African bank and the
proceeds from equity issuances.
The foregoing description of the Blue Label Subscription
Agreement does not purport to be complete and is qualified in its entirety by
reference to the full text thereof, a copy of which is attached hereto as
Exhibit 10.33 and is incorporated herein by reference.
Item 7.01. Regulation FD Disclosure.
On October 5, 2016, the Company issued a press release
announcing the execution of the Blue Label Subscription Agreement described in
Item 1.01 above. A copy of the Companys press release is attached as Exhibit
99.1.
Item 9.01. Financial Statements and Exhibits.
The information furnished herewith pursuant to Item 7.01 of
this current report shall not be deemed to be filed for the purpose of Section
18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or
otherwise subject to the liabilities of that section, and shall not be
incorporated by reference into any registration statement or other document
filed by the Company under the Securities Act of 1933, as amended, or the
Exchange Act, except as shall be expressly set forth by specific reference in
such filing.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, as amended, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
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NET 1 UEPS TECHNOLOGIES, INC.
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Date: October 6, 2016
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By:
Herman G. Kotzé
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Name: Herman G. Kotzé
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Title: Chief Financial Officer
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