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Results of Lesaka November 16, 2022 Annual General Meeting
Lesaka Technologies, Inc.
Registered in the state of Florida, USA
(IRS Employer Identification No. 98-0171860)
Nasdaq share code: LSAK
JSE share code: LSKE
LEI: 529900J4IZMWV4RDEB07
ISIN: US64107N2062
("Lesaka," or the "Company")
Results of Lesaka November 16, 2022 Annual General Meeting
On November 16, 2022, at the annual meeting of shareholders (the "Annual Meeting") of Lesaka, the stockholders of the
Company approved an amendment and restatement of the Company’s Amended and Restated Stock Incentive Plan (the
"Plan") to increase the number of shares authorized for issuance under the Plan by 2,500,000 and extend the term of the
plan to September 7, 2032, as further described in the Company’s definitive proxy statement for the Annual Meeting filed
with the Securities and Exchange Commission on September 30, 2022 (the "2022 Proxy Statement"). Further changes to
the Plan include:
- Addressing the treatment of equity awards upon a change in control;
- All equity awards will generally have a vesting period of at least one year;
- An explicit prohibition on the payment of dividends and dividend equivalents on unvested full value awards;
- Clarification and update to repricing restrictions;
- Mandatory application of the Company’s clawback policy to equity awards under the Plan; and
- Removal of deadwood provisions related to the "performance based compensation" exemption under Section
162(m) of the Code.
The amendment and restatement of the Plan was previously approved, subject to stockholder approval, by the Board of
Directors of the Company. The summary of the Plan contained herein is qualified by and subject to the full text of the Plan,
which was included as Exhibit A to the 2022 Proxy Statement and is attached as Exhibit 10.1 to the Company’s Form 8-K
filed with the United States Securities and Exchange Commission on November 16, 2022.
Item 5.07. Submission of Matters to a Vote of Security Holders.
The following is a summary of the voting results for each matter presented to shareholders at the Annual Meeting.
Proposal No. 1—Election of Directors
All director nominees were elected and the votes cast were as follows:
Votes Broker
Director Votes for withheld on-votes
Kuben Pillay 37,587,012 520,704 10,147,198
Chris G.B. Meyer 37,312,648 795,068 10,147,198
Naeem E. Kola 36,117,504 1,990,212 10,147,198
Antony C. Ball 36,690,226 1,417,490 10,147,198
Nonku N. Gobodo 37,141,387 966,329 10,147,198
Javed Hamid 37,033,486 1,074,230 10,147,198
Steven J. Heilbron 36,091,837 2,015,879 10,147,198
Lincoln C. Mali 36,093,888 2,013,828 10,147,198
Ali Mazanderani 36,635,634 1,472,082 10,147,198
Monde Nkosi 35,934,987 2,172,729 10,147,198
Ekta Singh-Bushell 37,577,427 530,289 10,147,198
Proposal No. 2—Ratification of Selection of Independent Registered Public Accounting Firm
The ratification of the selection of Deloitte & Touche (South Africa) as the Company’s independent registered public
accounting firm for the fiscal year ending June 30, 2023, was approved and the votes cast were as follows:
Votes cast
For Against Abstain
47,921,023 323,926 9,965
Proposal No. 3—Advisory Vote to Approve Executive Compensation
The compensation of the Company’s named executive officers was approved, on an advisory, non-binding basis, and the
votes cast were as follows:
Votes cast
Broker non-
For Against Abstain votes
28,245,195 2,433,416 7,429,105 10,147,198
Proposal No. 4—Approval of the Amendment and Restatement of the Amended and Restated Stock Incentive Plan
The amendment and restatement of the Company’s current Amended and Restated Stock Incentive Plan was approved
and the votes cast were as follows:
Votes cast
Broker non-
For Against Abstain votes
36,610,309 1,438,581 58,826 10,147,198
About Lesaka (www.lesakatech.com)
Lesaka Technologies, (Lesaka™) is a South African Fintech company that utilizes its proprietary banking and payment
technologies to deliver superior financial services solutions to merchants (B2B) and consumers (B2C) in Southern Africa.
Lesaka’s mission is to drive true financial inclusion for both merchant and consumer markets through offering affordable
financial services to previously underserved sectors of the economy. Lesaka offers cash management solutions, growth
capital, card acquiring, bill payment technologies and value-added services to formal and informal retail merchants as well
as banking, lending, and insurance solutions to consumers across Southern Africa. The Lesaka journey originally began as
"Net1" in 1997 and later rebranded to Lesaka (2022), with the acquisition of Connect. As Lesaka, the business continues
to grow its systems and capabilities to deliver meaningful fintech-enabled, innovative solutions for South Africa’s merchant
and consumer markets.
Lesaka has a primary listing on NASDAQ (NasdaqGS: LSAK) and a secondary listing on the Johannesburg Stock Exchange
(JSE: LSK). Visit www.lesakatech.com for additional information about Lesaka Technologies (Lesaka™).
Investor Relations Contact:
Phillipe Welthagen
Email : phillipe.welthagen@lesakatech.com
Mobile: +27 84 512 5393
Investor Relations Contact:
ICR
Email: LesakaIR@icrinc.com
Media Relations Contact:
Janine Bester Gertzen
Email: Janine@thenielsennetwork.com
Johannesburg
November 15, 2022
Sponsor:
Rand Merchant Bank, a division of FirstRand Bank Limited
Date: 16-11-2022 05:30:00
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