Lesaka Technologies Files 8-K on Operations and Personnel
Ticker: LSAK · Form: 8-K · Filed: Nov 6, 2024 · CIK: 1041514
| Field | Detail |
|---|---|
| Company | Lesaka Technologies INC (LSAK) |
| Form Type | 8-K |
| Filed Date | Nov 6, 2024 |
| Risk Level | low |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $400,000, $480,000, $509,915, $1, $407,932 |
| Sentiment | neutral |
Sentiment: neutral
Topics: operations, personnel, financials
TL;DR
Lesaka Tech (US) filed an 8-K covering ops, financials, and exec changes. Formerly Net 1 UEPS.
AI Summary
Lesaka Technologies, Inc. filed an 8-K on November 6, 2024, reporting on results of operations, financial condition, and changes in directors and officers. The filing also includes financial statements and exhibits. The company was formerly known as NET 1 UEPS TECHNOLOGIES INC and changed its name on July 24, 2000.
Why It Matters
This 8-K filing provides updates on Lesaka Technologies' financial performance and any significant changes in its leadership, which are crucial for investors to assess the company's current standing and future direction.
Risk Assessment
Risk Level: low — This filing is a routine 8-K reporting operational and personnel updates, not indicating immediate financial distress or significant new risks.
Key Players & Entities
- Lesaka Technologies, Inc. (company) — Registrant
- NET 1 UEPS TECHNOLOGIES INC (company) — Former company name
- November 5, 2024 (date) — Earliest event reported date
- November 6, 2024 (date) — Date of report
FAQ
What specific financial results are being reported in this 8-K?
The filing indicates that it covers 'Results of Operations and Financial Condition,' but the specific financial figures are not detailed in the provided header information.
Are there any new directors or officers appointed or departing?
Yes, the filing explicitly mentions 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers' as an item of information.
When did Lesaka Technologies change its name from NET 1 UEPS TECHNOLOGIES INC?
The company changed its name on July 24, 2000.
What is the primary business classification for Lesaka Technologies?
The Standard Industrial Classification (SIC) code is 6099, which relates to 'Functions Related to Depository Banking, NEC'.
What is the filing date and the earliest event date reported?
The filing was made on November 6, 2024, and the earliest event reported is dated November 5, 2024.
Filing Stats: 1,588 words · 6 min read · ~5 pages · Grade level 11.7 · Accepted 2024-11-06 16:05:17
Key Financial Figures
- $400,000 — % and 120% of his annual base salary of $400,000 for fiscal 2025. A 60% weighting is app
- $480,000 — 120% of his fiscal 2025 base salary, or $480,000. Mr. Steven Heilbron Mr. Heilbron's
- $509,915 — cal 2025 base salary, or ZAR 9,000,000 ($509,915, translated at a $:ZAR exchange rate of
- $1 — translated at a $:ZAR exchange rate of $1: ZAR 17.65). Mr. Dan Smith Mr. Smith
- $407,932 — cal 2025 base salary, or ZAR 7,200,000 ($407,932, translated at a $:ZAR exchange rate of
Filing Documents
- form8k.htm (8-K) — 42KB
- exhibit99-1.htm (EX-99.1) — 222KB
- 0001062993-24-018456.txt ( ) — 498KB
- lsak-20241105.xsd (EX-101.SCH) — 4KB
- lsak-20241105_cal.xml (EX-101.CAL) — 1KB
- lsak-20241105_def.xml (EX-101.DEF) — 22KB
- lsak-20241105_lab.xml (EX-101.LAB) — 45KB
- lsak-20241105_pre.xml (EX-101.PRE) — 24KB
- form8k_htm.xml (XML) — 3KB
02. Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition. The following information is furnished pursuant to Item 2.02, "Results of Operations and Financial Condition". On November 6, 2024, Lesaka Technologies, Inc., a Florida corporation (the " Company "), issued a press release setting forth its financial results for the first quarter ended September 30, 2024. Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On November 5, 2024, our Remuneration Committee adopted cash incentive awards for fiscal 2025 for Messrs. Naeem Kola, Steven Heilbron, and Lincoln Mali and Dan Smith. Cash Incentive Awards for Fiscal 2025 Under the cash incentive awards, each of Messrs. Kola, Heilbron, Mali and Smith will be eligible to earn a cash incentive award based on a number of quantitative factors based on our fiscal 2025 financial performance and his individual contribution toward the achievement of certain objectives described under "Qualitative Portion of the Cash Incentive Awards" below. The terms of the cash incentive awards are summarized below. Mr. Naeem Kola Mr. Kola's cash incentive award provides for an expected performance range cash incentive award of between 20% and 120% of his annual base salary of $400,000 for fiscal 2025. A 60% weighting is applied to quantitative performance factors and 40% is based on qualitative factors. The award could amount to a maximum of 120% of Mr. Kola's base salary based on the assessment of performance against both quantitative and qualitative targets. Mr. Kola's maximum award represents 120% of his fiscal 2025 base salary, or $480,000. Mr. Steven Heilbron Mr. Heilbron's cash incentive award provides for an expected performance range cash incentive award of between 20% and 120% of his annual base salary of $400,000 for fiscal 2025. A 30% weighting is applied to quantitative performance factors and 70% is based on quali
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits Exhibits Description 99.1 Press Release, dated November 6, 2024, issued by Lesaka Technologies, Inc. 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. LESAKA TECHNOLOGIES, INC. Date: November 6, 2024 By: /s/ Dan L. Smith Name: Dan L. Smith Title: Group Chief Financial Officer