M&A - LESAKA TECHNOLOGIES INC

Form Type: 8-K

Filing Date: 2025-07-02

Corporate Action: Acquisition

Type: New

Accession Number: 000106299325012440

Filing Summary: On June 26, 2025, Lesaka Technologies, Inc.'s subsidiary Lesaka Technologies Proprietary Limited entered into a Transaction Implementation Agreement with Zero Research Proprietary Limited, Bank Zero Mutual Bank, and several parties related to Bank Zero and Zero Research. The agreement entails multiple steps including acquisitions of shares in Bank Zero and Zero Research, with Lesaka SA acquiring shares for a combination of Lesaka shares and ZAR 91.0 million ($5.1 million) in cash. Following the completion of these transactions, the involved sellers will collectively own approximately 12% of Lesaka's shares. The deal is subject to various regulatory approvals and includes provisions for a long-term incentive plan for key executives after the transaction closes. Moreover, warranties and indemnities are included to protect the interests of the parties, with insurance acquired for certain liabilities. The agreement lapses if conditions precedent are not met or waived by August 6, 2026.