UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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CURRENT REPORT
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Item 8.01. Other Events.
On June 26, 2025, Lesaka Technologies, Inc. ("Lesaka"), through its wholly owned subsidiary Net 1 Applied Technologies B.V., Netherlands, completed the sale of its entire equity interest in One Mobikwik Systems Limited ("Mobikwik") on the Indian Stock Exchange, generating net cash proceeds of approximately ZAR 290 million ($16.3 million using prevailing exchange rates of $1: ZAR 17.75).
As previously disclosed in Lesaka's quarterly investment updates, the contractual lock-up period related to the Mobikwik investment expired on June 18, 2025. Given that Mobikwik was deemed a non-core asset, the Company's strategic intention was to monetize its investment following the expiry of the lock-up.
The net cash proceeds from the transaction will be applied toward general corporate purposes, including strengthening the Company's balance sheet and reducing consolidated group debt.
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: June 30, 2025 | By: | /s/ Dan L. Smith |
Name: | Dan L. Smith | |
Title: | Group Chief Financial Officer |