NET 1 UEPS TECHNOLOGIES, INC. (NASDAQ:UEPS) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
On March 31, 2017, Cash Paymaster Services (Pty) Ltd, a
subsidiary of Net 1 UEPS Technologies, Inc. (CPS) and the South
African Social Security Agency (SASSA) entered into an Addendum
to the Contract for the Payment of Social Grants, together with a
related Service Level Agreement (collectively, the Addendum). The
Addendum extends the existing contract for a period of 12 months
to March 31, 2018, under the current contracts terms and
conditions, and also includes the specific terms as ordered by
the Constitutional Court of South Africa in its March 17, 2017,
ruling.
The foregoing description of the Addendum does not purport to be
complete and is qualified in its entirety by reference to the
full text of the Addendum, which is attached hereto as Exhibit
10.59 and incorporated herein by reference.
Item 7.01. Regulation FD Disclosure.
On March 31, 2017, Net1 issued a press release announcing the
execution of the addendum to the SASSA contract as described in
Item 1.01 above. A copy of Net1s press release is attached as
Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
| (d) |
Exhibits |
| Exhibit | |
| No. | Description |
| 10.59 |
Addendum dated March 31, 2017, to the Contract and related Service Level Agreement for the Payment of Social Grants dated February 3, 2012 between CPS and SASSA. |
| 99.1 | Press Release, dated March 31, 2017, issued by Net1 |
About NET 1 UEPS TECHNOLOGIES, INC. (NASDAQ:UEPS)
Net 1 UEPS Technologies, Inc. is a provider of payment solutions, transaction processing services and financial technology across multiple industries. The Company develops and markets a transaction processing solution that encompasses its smart card-based alternative payment system for the unbanked and under-banked populations of developing economies and for mobile transaction channels. The Company operates through three segments: South African transaction processing, International transaction processing, and Financial inclusion and applied technologies. The Company also provides secure transaction technology solutions and services, by offering transaction processing, financial and clinical risk management solutions to various industries. It offers secure online transaction processing, cryptography, mobile telephony, integrated circuit card (chip/smart card) technologies, and the design and provision of financial and value-added services to its cardholder base. NET 1 UEPS TECHNOLOGIES, INC. (NASDAQ:UEPS) Recent Trading Information
NET 1 UEPS TECHNOLOGIES, INC. (NASDAQ:UEPS) closed its last trading session down -0.12 at 12.13 with 109,531 shares trading hands.
