Net1 Receives Unconditional Approval from the Competition Tribunal to Acquire Controlling Stake in DNI
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
(“Net1” or “the Company”)
Net1 Receives Unconditional Approval from the Competition Tribunal to Acquire
Controlling Stake in DNI
Johannesburg, June 21, 2018 – Net1 (Nasdaq: UEPS; JSE: NT1) today announced that it has
received unconditional approval from the Competition Tribunal to increase its stake in DNI-4PL
Contracts (Pty) Ltd (“DNI”) from 49% to 55%. DNI is the leading distributor of mobile
subscriber starter packs for Cell C through its extensive network of field operatives and agents.
The transaction is now unconditional and Net1 expects the transaction to close on or before June
“We welcome this positive news as it moves us one step closer to the inclusion of DNI into the
Net1 family,” said Herman Kotze, CEO of Net1. “As part of Net1, DNI and its extensive sales
force will allow us to accelerate our efforts to provide a range of low-cost lifestyle products
along with our EasyPay Everywhere account, enabling financial inclusion to millions of
underbanked South Africans with a low-cost, easily accessible solution encompassing banking,
payments, financial services and telecommunications.”
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. Net1 offers debit,
credit and prepaid processing and issuing services for Visa, MasterCard, ChinaUnionPay, Alipay
and WeChat across Asia-Pacific, including China, Europe, Africa, and the United States.
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. Net1’s 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.
Net1 has a primary listing on the NASDAQ and a secondary listing on the Johannesburg Stock
This press release contains forward-looking statements that involve substantial risks and
uncertainties. All statements, other than statements of historical fact, included in this press
release regarding strategy, future operations, future financial position, future revenues, projected
costs, prospects, plans and objectives of management are forward-looking statements. The
Company may not actually achieve the plans, intentions or expectations disclosed in its forward-
looking statements. Actual results or events could differ materially from the plans, intentions and
expectations disclosed in the forward-looking statements that the Company makes. Factors that
might cause such differences include, but are not limited to: the proposed further subscription in
DNI not closing; or failure by the Company to realize the anticipated benefits from the DNI
transactions; and other factors, many of which are beyond the Company’s control; and other
important factors included in the Company’s reports filed with the Securities and Exchange
Commission, particularly in the “Risk Factors” section of the Company’s Annual Report on
Form 10-K for the fiscal year ended June 30, 2017, as such Risk Factors may be updated from
time to time in subsequent 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:
Head of Investor Relations
Media Relations Contact:
Bridget von Holdt
Business Director – Burson-Marsteller South Africa
June 21, 2018
Rand Merchant Bank, a division of FirstRand Bank Limited
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