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Net1 closes transaction to reduce shareholding in DNI to 38% to settle ZAR 400 million vendor obligation
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
ISIN: US64107N2062
("Net1" or "the Company")
Net1 closes transaction to reduce shareholding in DNI to 38% to settle ZAR 400 million
vendor obligation
Johannesburg, April 5, 2019 – Net1 today announced that on March 31, 2019 it closed the
transaction with its current minority shareholders of DNI-4PL Contracts Proprietary Limited
("DNI"), to reduce the Company’s effective shareholding in DNI from 55% to 38%. The pro
forma effects of the transaction were filed on April 4, 2019, on Form 8-K with the United States
Securities and Exchange Commission, and are available at https://www.sec.gov/cgi-bin/browse-
edgar?action=getcompany&CIK=0001041514&type=&dateb=&owner=include&count=40.
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.
Forward-Looking Statements
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 are often beyond the Company’s control and are 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, 2018, and 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:
Dhruv Chopra
Head of 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@bm-africa.com
Johannesburg
April 5, 2019
Sponsor:
Rand Merchant Bank, a division of FirstRand Bank Limited
Date: 05/04/2019 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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