Brief: Net1 Expects To Report A Significant Loss For Q2

Lesaka Technologies

31/01/2019 14:21

Jan 31 (Reuters) - Net 1 UEPS Technologies Inc  UEPS.O :
    * NET1 PROVIDES UPDATE ON EPE ACCOUNTS COURT PROCESS;
EXPECTS Q2
2019 LOSS
    * NET 1 UEPS TECHNOLOGIES INC - CURRENTLY EVALUATING OPTIONS
AVAILABLE TO IT, INCLUDING AN APPEAL AGAINST JUDGMENT
    * NET 1 UEPS TECHNOLOGIES - SOUTH AFRICAN HIGH COURT GAVE
JUDGMENT
IN APPLICATION TO DIRECT SASSA TO PAY SOCIAL GRANTS INTO EPE
ACCOUNTS OF RECIPIENTS
    * NET 1 UEPS - JUDGMENT HAS HAD MATERIAL ADVERSE IMPACT ON
FINANCIAL RESULTS, EXPECT TO REPORT A SIGNIFICANT LOSS FOR Q2 OF
FISCAL 2019
    * NET 1 UEPS TECHNOLOGIES - EFFECT OF FINAL JUDGMENT IS THAT
SASSA
IS REQUIRED TO PROMPTLY PAY SOCIAL GRANTS INTO EPE ACCOUNTS OF
RECIPIENTS
    * NET 1 UEPS TECHNOLOGIES - FINAL JUDGMENT IS THAT SASSA IS
NOT
REQUIRED TO PAY GRANTS INTO EPE ACCOUNTS OF RECIPIENTS WHO DID
NOT SUBMITTED ANNEXURE C FORM

Source text for Eikon:  ID:nGNX43ZlXC 
Further company coverage:  UEPS.O 

 ((Reuters.Briefs@thomsonreuters.com;))