Current Report Filing (8-k)
June 08 2015 - 3:06PM
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): June 8,
2015
NET 1 UEPS TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
Florida |
000-31203 |
98-0171860 |
(State or other jurisdiction |
(Commission |
(IRS Employer |
of incorporation) |
File Number) |
Identification No.) |
President Place, 4th Floor, Cnr. Jan
Smuts Avenue and Bolton Road
Rosebank, Johannesburg, South Africa
(Address of principal executive
offices)
(ZIP Code)
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 7.01 |
Regulation FD Disclosure.
|
On June 8, 2015, Net1 issued a press release announcing that it
had received a letter from the Foreign Corrupt Practices Act unit of the
Division of Enforcement of the U.S. Securities and Exchange Commission (SEC),
regarding conclusion of the SECs investigation. A copy of Net1s press release
is attached as Exhibit 99.1.
Item 9.01. |
Financial Statements and Exhibits.
|
SIGNATURES
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.
|
NET 1 UEPS TECHNOLOGIES, INC. |
|
|
|
|
Date: June 8, 2015 |
By: /s/ Serge C.P.
Belamant |
|
Serge
C.P. Belamant |
|
Chief Executive Officer
|
Exhibit 99.1
Net1 Announces Conclusion of SEC Investigation
Johannesburg, June 8, 2015 Net 1 UEPS Technologies, Inc.
(Net1 or the Company) (NasdaqGS: UEPS; JSE: NT1) today announced that it has
received a letter from the Foreign Corrupt Practices Act unit of the Division of
Enforcement of the U.S. Securities and Exchange Commission (SEC), advising the
Company as follows:
We have concluded the investigation as to Net 1 UEPS
Technologies, Inc. Based on the information we have as of this date, we do not
intend to recommend an enforcement action by the Commission against Net 1 UEPS
Technologies, Inc. We are providing this notice under the guidelines set out in
the final paragraph of Securities Act Release No. 5310, which states in part
that the notice must in no way be construed that the party has been exonerated
or that no action may ultimately result from the staffs investigation (The
full text of Release No. 5310 can be found at:
http://www.sec.gov/divisions/enforce/wells-release.pdf).
The investigation commenced in December 2012 following the
award of the SASSA national contract to us in January 2012, said Dr. Serge
Belamant, Chairman and CEO of Net1. It commenced largely as a result of one of
the losing bidders for the contract, Barclays Africas subsidiary AllPay,
referring unsubstantiated South African press articles alleging irregularities
in the tender process to the U.S. Department of Justice. We believe that AllPay
was responsible for instigating those media allegations. This resulted in the
DOJ and SEC initiating investigations into alleged FCPA and disclosures
violations. This letter from the SEC is an important step in the Company
clearing its name and is in line with the total absence of any findings of
irregularities against Net1 by any South African Court or Regulator resulting
from actions pursued by AllPay over the past three years, he concluded.
The separate investigation into these matters initiated by Net1
itself with the South African Polices Commercial Crimes unit is expected to be
concluded shortly.
It is the Companys understanding that the DOJ investigation
remains open at this time.
About Net1 (www.net1.com)
Net1 is a leading provider of alternative payment systems that
leverage its Universal Electronic Payment System (UEPS) or utilize its
proprietary mobile technologies. The Company operates market-leading payment
processors in South Africa and the Republic of Korea.
UEPS permits the Company to facilitate biometrically secure,
real-time electronic transaction processing to unbanked and under-banked
populations of developing economies around the world in an online or offline
environment. Net1s UEPS/EMV solution is interoperable with global EMV standards
that seamlessly enable access to all the UEPS functionality in a traditional EMV
environment. In addition to payments, UEPS can be used for banking, healthcare
management, payroll, remittances, voting and identification.
Net1's mobile technologies include its proprietary mobile
payments solution - MVC, which offers secure mobile-based payments, as well as
mobile banking and prepaid value-added services in developed and emerging
countries. The Company intends to deploy its varied mobile solutions through its
Zazoo business unit, which is an aggregation of innovative technology companies
and is based in the United Kingdom.
Net1 has a primary listing on the NASDAQ and a secondary
listing on the Johannesburg Stock Exchange.
Forward-Looking Statements
This press release contains forward-looking statements. All
statements, other than statements of historical fact, including the Company's
expectations about allegations made against the Company, are forward-looking
statements, and future events may differ from such expectations. Please refer to
the "Risk Factors" section of our Annual Report on Form 10-K for the fiscal year
ended June 30, 2014, as they may be updated from time to time in future reports.
The Company does not assume any obligation to update any forward-looking
statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact:
Dhruv Chopra
Head of
Investor Relations
Phone: +1-917-767-6722
Email: dchopra@net1.com
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