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Net1 appoints Kuben Pillay to its board of directors
Net 1 UEPS Technologies, Inc.
Registered in the state of Florida, USA
(IRS Employer Identification No. 98-0171860)
Nasdaq share code: UEPS
JSE share code: NT1
LEI: 529900J4IZMWV4RDEB07
ISIN: US64107N2062
(“Net1”)
Net1 appoints Kuben Pillay to its board of directors
Johannesburg, March 4, 2020 - Net1 (NasdaqGS: UEPS; JSE: NT1) announced today the
appointment of Mr. Kuben Pillay as an independent non-employee director of the Company,
effective June 1, 2020. He will also serve on the nominating and corporate governance, audit and
remuneration committees, effective June 1, 2020.
Mr. Pillay serves on South African public and private corporate boards to which he brings
diverse localized management and board experience in legal, digital, transaction processing and
technology operations. These include being a non-employee director of Transaction Capital
Limited (JSE: TCP), Sabvest Limited (JSE: SBV), and the OUTsurance group of companies.
Kuben has most recently served as the non-executive chairman of Cell C Limited from August
2017 to October 2019. He was the non-executive chairman of Primedia Limited from February
2014 to December 2016, and also served as its group CEO from August 2009 to January 2014.
An attorney by profession, Kuben was a managing financial partner at attorneys Cheadle
Thompson and Haysom before joining Mineworkers Investment Company Proprietary Limited
in 1996 as a founding executive director, and later as the non-executive chairman of
Mineworkers Investment Company. Mr. Pillay lives and works in South Africa.
Mr. Pillay has a BA LLB from the University of the Witwatersrand, Johannesburg, and a Masters
in Comparative Jurisprudence from Howard University, Washington DC.
“I am very pleased that Kuben will be joining our Board,” said Christopher S. Seabrooke,
Chairman of the Net1 Board, “His qualifications and broad experience in numerous sectors will
be very welcome,” he concluded.
Net1’s Board will be comprised of two executive and six independent directors once Mr. Pillay’s
appointment is effective.
About Net1 (www.net1.com)
Net1 is a leading provider of transaction processing services, financial inclusion products and
services and secure payment technology. Net1 operates market-leading payment processors
in South Africa and the Republic of Korea. Net1 offers debit, credit and prepaid processing and
issuing services for all major payment networks. In South Africa, Net1 provides innovative low-
cost financial inclusion products, including banking, lending and insurance and through DNI is a
leading distributor of mobile subscriber starter packs for Cell C, a South African mobile network
operator. Net1 leverages its strategic equity investments in Finbond and Bank Frick (both
regulated banks), and Cell C to introduce products to new customers and geographies. Net1 has a
primary listing on NASDAQ (NasdaqGS: UEPS) and a secondary listing on the Johannesburg
Stock Exchange (JSE: NT1). Visit www.net1.com for additional information about Net1.
Investor Relations Contact:
Dhruv Chopra
Group Vice President, Investor Relations
Phone: +1 917-767-6722
Email: dchopra@net1.com
Media Relations Contact:
Bridget von Holdt
Business Director – BCW
Phone: +27-82-610-0650
Email: Bridget.vonholdt@bcw-global.com
Johannesburg
March 4, 2020
Sponsor:
Rand Merchant Bank, a division of FirstRand Bank Limited
Date: 04-03-2020 04:00:00
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