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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Lesaka Technologies Inc | NASDAQ:LSAK | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.14 | 3.00% | 4.80 | 4.02 | 4.97 | 4.91 | 4.65 | 4.78 | 61,202 | 21:06:57 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
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(State or other jurisdiction | (Commission | (IRS Employer |
of incorporation) | File Number) | Identification No.) |
(Address of principal executive offices) (ZIP Code)
Registrant’s telephone number, including area code: 011-
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbols | Name of each exchange on which registered | ||
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b -2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
Reduction in RMB Facility E to ZAR 0.9 billion
On January 22, 2024, Lesaka Technologies, Inc. ("Lesaka"), through Lesaka Technologies Proprietary Limited ("Lesaka SA"), and FirstRand Bank Limited (acting through its Rand Merchant Bank division) ("RMB"), entered into a Letter of Amendment ("January 2024 Facility E Letter Agreement") to decrease the Senior Facility E from ZAR 1.4 billion to ZAR 0.9 billion.
On January 22, 2024, the USD/ZAR exchange rate was $1.00 / ZAR 19.14.
The foregoing description of the January 2024 Facility E Letter Agreement does not purport to be complete and is qualified in its entirety by reference to the full text thereof, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit | |
No. | Description |
10.1 | Letter of Amendment, dated January 22, 2024, among Lesaka Proprietary Limited and FirstRand Bank Limited (acting through its Rand Merchant Bank division), as lender, related to the amendment to the Senior Facility E Agreement |
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 23, 2024 | By: | /s/ Naeem E. Kola |
Name: | Naeem E. Kola | |
Title: | Group Chief Financial Officer |
19 December, 2023
Lesaka Technologies Proprietary Limited
3rd Floor, President Place
Corner Jan Smuts Avenue &
Bolton Road
Rosebank
Email: patience.rolls@lesakatech.com / neild@connected.co.za
Attention: Ms Patience Rolls, Executive Head: Cash and ATM's
Dear Patience,
RE: AMENDMENT TO THE SENIOR FACILITY E AGREEMENT (AS DEFINED BELOW)
1. We refer to:
1.1. the written agreement entitled "Senior Facility E Agreement" entered into by and between FirstRand Bank Limited (acting through its Rand Merchant Bank Division ) as the Original Senior Facility E Lender ("Lender"); Lesaka Technologies Proprietary Limited, registration number 2002/031446/07, as Borrower ("Borrower"); each Guarantor listed in Schedule 1 thereto; and FirstRand Bank Limited (acting through its Rand Merchant Bank Division ) as the Facility Agent , originally dated 26 September 2018, and amended on or about 4 September 2019 and amended on 23 July, 2021 ("Facility E Agreement"); and
1.2. the written agreement entitled "Common Terms Agreement", dated on or about 21 July 2017 (as amended and/or reinstated from time to time), between, amongst others, the Borrower (as borrower), the Original Senior Facility E Lender (as Lender) and the Facility Agent, as amended from time to time ("Common Terms Agreement").
2. Unless the context indicates a contrary intention, capitalised terms and expressions used in this letter of amendment ("Amendment") and not defined, shall bear the meanings ascribed to them in Common Terms Agreement.
3. The Lender hereby amends the Facility E Agreement by decreasing the amount of the Available Commitment from R1,400,000,000 (one billion four hundred million Rand) to R900,000,000 (nine hundred million Rand), to the extent not cancelled, transferred or reduced under the Common Terms Agreement.
4. On and with effect from the date of signature of the last Party signing this Amendment doing so ("Signature Date"), any reference in a Finance Document to the "Senior Facility E Agreement" shall be a reference to that agreement as amended pursuant to this Amendment which may be amended and restated from time to time.
CORPORATE AND INVESTMENT BANKING
1 Merchant Place | PO Box 786273 | Switchboard | +27 11 282 8000 |
Cnr Fredman Dr and Rivonia Rd | Sandton 2146 | Website | rmb.co.za |
Sandton 2196 | South Africa |
5. The Borrower makes the following representations and warranties to the Lender, on the Signature Date:
5.1. It has the legal capacity and power to enter into and perform, and has taken all necessary action to authorise the entry into and performance of, this Amendment and the transactions contemplated by this Amendment;
5.2. No limit on its powers will be exceeded as a result of the borrowing, grant of security or giving of guarantees or indemnities contemplated by the Finance Documents to which it is a party;
5.3. The obligations expressed to be assumed by it in each Finance Document to which it is a party are legal, valid, binding and enforceable obligations;
5.4. Each Finance Document to which it is a party is in the proper form for its enforcement in the jurisdiction of its incorporation.
6. This Amendment is a Finance Document.
7. This Amendment and non-contractual obligations arising out of or in connection with it are governed by the laws of South Africa.
8. Except as otherwise provided in this Amendment, the Finance Documents remain in full force and effect without any amendment whatsoever.
9. The Facility E Agreement and this Amendment will, from the Signature Date, be read and construed as one document.
Yours sincerely
/s/ Wally Laurens 01/22/2024
…………………………………………
Name: Wally Laurens
for: FIRSTRAND BANK LIMITED
/s/ Gerard Jagga 01/22/2024
…………………………………………
Gerard Jagga
for: FIRSTRAND BANK LIMITED
BY OUR SIGNATURES HERETO, WE HEREBY SIGNIFY OUR AGREEMENT TO THE AMENDMENTS SET OUT IN THIS AMENDMENT.
Accepted at Johannesburg. this 10th. day of January 2024
For and on behalf of: Lesaka Technologies Proprietary Limited
Naeem Kola |
Lincoln Mali |
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Full name of duly authorised signatory |
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Full name of duly authorised signatory |
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Group CFO |
CEO Southern Africa |
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Capacity / Office |
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Capacity / Office |
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/s/ Naeem E. Kola |
/s/ Lincoln C. Mali |
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Signature (who warrants his/her authority) |
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Signature (who warrants his/her authority) |
Document and Entity Information Document |
Jan. 22, 2024 |
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Document Information [Line Items] | |
Document Type | 8-K |
Document Creation Date | Jan. 22, 2024 |
Document Period End Date | Jan. 22, 2024 |
Amendment Flag | false |
Entity Registrant Name | Lesaka Technologies, Inc. |
Entity Address, Address Line One | President Place, 4th Floor, Cnr. |
Entity Address, Address Line Two | Jan Smuts Avenue and Bolton Road |
Entity Address, City or Town | Rosebank, Johannesburg |
Entity Address, Country | ZA |
Entity Address, Postal Zip Code | |
Entity Incorporation, State Country Name | FL |
City Area Code | 11 |
Region code of country | 27 |
Local Phone Number | 343-2000 |
Entity File Number | 000-31203 |
Entity Central Index Key | 0001041514 |
Entity Emerging Growth Company | false |
Entity Tax Identification Number | 98-0171860 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Shares |
Trading Symbol | LSAK |
Security Exchange Name | NASDAQ |
1 Year Lesaka Technologies Chart |
1 Month Lesaka Technologies Chart |
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