Net 1 UEPS updates shelf registration

Net 1 UEPS Technologies announced that it has filed a new shelf registration, which replaces and updates its current shelf registration statement. Like the current registration statement, the new registration statement would also allow Net1 to issue up to $500M of securities. In addition, because Net1 is required to register the 6,409,091 shares of Net1 common stock owned by investment funds affiliated with General Atlantic under the terms of a registration rights agreement previously entered into by the parties, the registration statement includes such shares and permits those shareholders to sell their shares should they wish to do so in the future. In the case of a sale of any or all of these shares, Net1 would not receive any proceeds from such sale.