Net 1 UEPS Technologies Inc. filed SEC Form 8-K: Leadership Update, Regulation FD Disclosure, Financial Statements and Exhibits
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Resignation of Alex M.R. Smith as Chief Accounting Officer
On January 17, 2023, Lesaka Technologies, Inc. (the "Company") announced that Alex M.R. Smith will resign from his position as Chief Accounting Officer of the Company, effective as of March 1, 2023.
On January 17, 2023, the Company issued a press release announcing Mr. Smith's resignation, a copy of which is attached hereto as Exhibit 99.1 and incorporated herein by reference.
On January 11, 2023, the Company and its wholly owned subsidiary, Lesaka Technologies (Pty) Ltd, each entered into Mutual Separation Agreements with Mr. Smith (the "Separation Agreements"). The Separation Agreements provide for certain payments and other benefits to Mr. Smith, including without limitation, the following: (a) on-going base salary payments during the notice period to March 1, 2023, less applicable withholdings and deductions; (b) the payment of all outstanding leave as of March 1, 2023; (c) an ex-gratia payment of six times his monthly salary; (d) the removal of the on-going employment condition in Mr. Smith's existing stock option award agreement; and (e) the removal of the on-going employment condition in Mr. Smith's existing restricted stock award agreements, however, the awards will continue to vest in accordance with the vesting terms included in the existing restricted stock award agreements, which in certain instances include specific performance conditions. In addition, the Separation Agreement includes a reciprocal general release and waiver of claims related to Mr. Smith's employment with the Company.
The foregoing descriptions of the Separation Agreements is qualified in its entirety by reference to the text of such agreements, which are filed as Exhibit 10.1 and Exhibit 10.2 to this Current Report on Form 8-K and incorporated herein by reference.
Item 7.01. Regulation FD Disclosure.
On January 17, 2023, the Company issued a press release announcing the resignation of Mr. Smith as Chief Accounting Officer as described in Item 5.02 above. A copy of the Company's press release is attached hereto as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit | |
| No. | Description |
| 10.1 | Mutual Separation Agreement, dated January 11, 2023, by and between the Lesaka Technologies, Inc. and Alex M.R. Smith |
| 10.2 | Mutual Separation Agreement, dated January 11, 2023, by and between the Lesaka Technologies (Pty) Ltd and Alex M.R. Smith |
| 99.1 | Press Release, dated January 17, 2023, issued by the Company |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |
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: January 17, 2023 | By: | /s/ Naeem E. Kola |
| Name: | Naeem E. Kola | |
| Title: | Group Chief Financial Officer | |