Lesaka Technologies Files 2024 Proxy Statement
Ticker: LSAK · Form: DEF 14A · Filed: Aug 2, 2024 · CIK: 1041514
| Field | Detail |
|---|---|
| Company | Lesaka Technologies INC (LSAK) |
| Form Type | DEF 14A |
| Filed Date | Aug 2, 2024 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $12.5 m, $1, $85.9 million, $4.25 |
| Sentiment | neutral |
Sentiment: neutral
Topics: proxy-statement, annual-meeting, corporate-governance
TL;DR
Lesaka Tech (formerly Net 1) filed its 2024 proxy statement, shareholders vote soon.
AI Summary
Lesaka Technologies, Inc. filed a definitive proxy statement (DEF 14A) on August 2, 2024, for its fiscal year ending June 30, 2024. The filing indicates that the company, formerly known as NET 1 UEPS TECHNOLOGIES INC, is seeking shareholder approval for matters related to its annual meeting. The company's principal executive offices are located in Rosebank, Johannesburg.
Why It Matters
This filing is crucial for shareholders as it outlines the agenda for the company's annual meeting and details proposals requiring their vote, impacting corporate governance and future strategic decisions.
Risk Assessment
Risk Level: low — This is a routine annual filing (DEF 14A) and does not contain new material financial information or significant strategic shifts.
Key Numbers
- 0630 — Fiscal Year End (Indicates the end of the reporting period for the company's financial statements.)
Key Players & Entities
- Lesaka Technologies, Inc. (company) — Registrant
- NET 1 UEPS TECHNOLOGIES INC (company) — Former company name
- 0001062993-24-014323 (filing_id) — Accession Number
- 20240802 (date) — Filing Date
- 20240821 (date) — Period of Report
FAQ
What is the purpose of a DEF 14A filing?
A DEF 14A filing, or definitive proxy statement, is used by companies to solicit proxy votes from shareholders for their annual or special meetings, detailing the agenda and proposals.
When was this specific DEF 14A filing made by Lesaka Technologies, Inc.?
Lesaka Technologies, Inc. filed this DEF 14A on August 2, 2024.
What was Lesaka Technologies, Inc. previously known as?
Lesaka Technologies, Inc. was formerly known as NET 1 UEPS TECHNOLOGIES INC.
What is the fiscal year end for Lesaka Technologies, Inc. as indicated in the filing?
The fiscal year end for Lesaka Technologies, Inc. is June 30.
Where are Lesaka Technologies, Inc.'s principal executive offices located?
Lesaka Technologies, Inc.'s principal executive offices are located at 4th Floor, President Place, Cnr. Jan Smuts & Bolton, Rosebank, Johannesburg.
Filing Stats: 4,817 words · 19 min read · ~16 pages · Grade level 12.2 · Accepted 2024-08-02 07:10:30
Key Financial Figures
- $12.5 m — eration Shares") and a ZAR 232 million ($12.5 million, translated at the prevailing rat
- $1 — n, translated at the prevailing rate of $1: ZAR 18.5 as of May 7, 2024) payment in
- $85.9 million — ement as an amount of ZAR 1.59 billion ($85.9 million), less the ZAR 232 million cash payment
- $4.25 — payment, implying a value per share of $4.25 ((ZAR 1.59 billion – ZAR 0.232 billion)
Filing Documents
- formdef14a.htm (DEF 14A) — 5618KB
- formdef14axz001.jpg (GRAPHIC) — 3KB
- formdef14axz002.jpg (GRAPHIC) — 49KB
- formdef14axz003.jpg (GRAPHIC) — 31KB
- formdef14axz004.jpg (GRAPHIC) — 42KB
- formdef14axz005.jpg (GRAPHIC) — 72KB
- formdef14axz006.jpg (GRAPHIC) — 61KB
- formdef14axz007.jpg (GRAPHIC) — 80KB
- formdef14axz008.jpg (GRAPHIC) — 75KB
- formdef14axz009.jpg (GRAPHIC) — 99KB
- formdef14axz010.jpg (GRAPHIC) — 5KB
- formdef14axz011.jpg (GRAPHIC) — 2KB
- formdef14axz012.jpg (GRAPHIC) — 2KB
- formdef14axz013.jpg (GRAPHIC) — 153KB
- 0001062993-24-014323.txt ( ) — 6546KB
RISK FACTORS
RISK FACTORS 8 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS 18 THE ACQUISITION 19 THE PURCHASE AGREEMENT 22 MATTERS BEING SUBMITTED TO A VOTE OF LESAKA'S SHAREHOLDERS 28 PROPOSAL NO. 1- APPROVAL, FOR PURPOSES OF NASDAQ LISTING RULE 5635, OF THE ISSUANCE OF SHARES OF LESAKA'S COMMON STOCK PURSUANT TO THE TERMS OF THE PURCHASE AGREEMENT 28 LESAKA'S BUSINESS 30 ADUMO'S BUSINESS 33 LESAKA'S MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 34 QUALITATIVE AND QUANTITATIVE DISCLOSURE ABOUT THE MARKET RISKS OF LESAKA 58 ADUMO'S MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 60 QUALITATIVE AND QUANTITATIVE DISCLOSURE ABOUT THE MARKET RISKS OF ADUMO 70 MANAGEMENT FOLLOWING THE ACQUISITION 72 PRINCIPAL SHAREHOLDERS OF LESAKA 75 PRINCIPAL SHAREHOLDERS OF POST-CLOSING LESAKA 77 CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS 79 UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL STATEMENTS 81 HOUSEHOLDING 97 SHAREHOLDER PROPOSALS 97 COMMUNICATIONS WITH LESAKA'S BOARD 97 WHERE YOU CAN FIND MORE INFORMATION 97 OTHER MATTERS 98 INDEX TO FINANCIAL STATEMENTS OF ADUMO F-1 ANNEX A - PURCHASE AGREEMENT 1 INFORMATION CONCERNING SOLICITATION AND VOTING This proxy statement contains information about the Special Meeting of Shareholders (the "Special Meeting") of Lesaka Technologies, Inc. to be held on August 21, 2024 at 15:00 local time (9:00 am Eastern Time). Our Board of Directors (the "Board") has furnished this proxy statement and the enclosed proxy card in connection with the solicitation of proxies by our Board for the Special Meeting, and any adjournment or postponement of the Special Meeting. We anticipate that this proxy statement and the form of proxy relating to our meeting will be mailed to our shareholders commencing on or about August 5, 2024. A majority of the total number of outstanding shares of common stock, p