| Wed 24 Nov 2010, 7:35 | | NT1 - Net 1 UEPS Technologies Inc - Notification of director`s dealings in Net1 |
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NT1
NT1
NT1 - Net 1 UEPS Technologies, Inc - Notification of director`s dealings in Net1
securities
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")
Notification of director`s dealings in Net1 securities
In compliance with rule 3.63 to 3.65 of the JSE Limited Listings Requirements,
the following dealings in the securities of Net1 have taken place by a director
of the company:
Director: Christopher Stefan Seabrooke
Number of securities: 80,990
Class of security: Common stock
Nature of interest: Indirect, non-beneficial (1)
Nature of transaction: Irrevocable undertaking to purchase
common stock
Date of transaction: 23 November 2010
Price: USD 12.25 (2)
Total transaction value: USD 992,127.50
(1) A trust, settled by a relative of the reporting person and of which the
reporting person is a discretionary beneficiary, is shareholder of the company
whose wholly owned subsidiary is acquiring the common stock. The trust
beneficially owns 33% of the company acquiring the common stock and has the
right to vote 67% of the issued shares of the company. The reporting person is
one of four trustees of the trust, and all matters voted on require a simple
majority. The reporting person is the chief executive of the company acquiring
the common stock. The reporting person disclaims beneficial ownership of these
shares except to the extent of his pecuniary interest therein.
(2) The shares have been purchased on Nasdaq on behalf of and against an
undertaking by the company referred to in (1) above to acquire them through the
JSE Limited once the shares have been moved on to the JSE Limited share
register, at a South African rand price equal to the dollar price recorded in
this SENS announcement (plus related transaction costs).
24 November 2010
Johannesburg
Sponsor to Net1:
Deutsche Securities (SA) (Proprietary) Limited
Date: 24/11/2010 07:35:00 Produced by the JSE SENS Department.
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