Related Party Transactions

12 Months Ended

Jun. 30, 2024

Related Party Transactions [Abstract]

Related Party Transactions

23. RELATED PARTY TRANSACTIONS

VCP Agreement

On March 22, 2022, Lesaka and Lesaka SA entered into a Securities Purchase Agreement (the “VCP Agreement”) with Value

Capital Partners Proprietary Limited (“VCP”) , a significant shareholder, whereby VCP will procure that one or more funds under its

management (the “Purchasing Funds”) will subscribe for, and Lesaka will have the obligation to issue and sell to the Purchasing Funds,

ZAR

350.0

 million of common stock of Lesaka if (i) an event of default occurs under Facility G or Facility H, (ii) Lesaka SA fails to

pay all outstanding amounts in respect of Facility H on the maturity date of such facility, or (iii) the market capitalization of Lesaka

on the Nasdaq Capital Market (based on the closing price on such exchange) falls and remains below the U.S. dollar equivalent of

ZAR

2.6

 billion on more than one day. The VCP Agreement contains customary representations and warranties from Lesaka and VCP

and covenants from Lesaka and Lesaka SA. In connection with the VCP Agreement, Lesaka SA agreed to pay VCP a commitment fee

in an amount equal to ZAR

5.25

 million. 

On March 16, 2023, VCP, Lesaka and Lesaka SA, entered into an agreement (the “VCP Amendment Agreement”) to amend the

maturity date under the agreement with VCP to December 31, 2025, in order to align such date with the maturity date of Facility H.

In connection with the VCP Amendment Agreement, Lesaka SA agreed to pay VCP an additional commitment fee in an amount equal

to ZAR

8.9

 million, which is calculated as

1

% per annum of the support provided over the period of the extension, as a result of the

amendment to the maturity date.

Additionally, Lesaka, Lesaka SA and VCP entered into a Step-In Rights Letter on March 22, 2022 with RMB, which provides

RMB with step in rights to perform the obligations or enforce the rights of Lesaka and Lesaka SA under the VCP Agreement to the

extent that Lesaka and Lesaka SA fail to do so and do not remedy such failure within two business days of notice of such failure.