Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Resignation of Philippus S. Meyer as Managing Director: Transact24

On October 30, 2020, Net 1 UEPS Technologies, Inc. ("Net1" or the "Company") and Mr. Philippus S. Meyer entered into a Separation Agreement (the "Separation Agreement"). The Separation Agreement provides for a final payment of HKD 150,000 to Mr. Meyer as well as other benefits, including the transfer of various assets to Mr. Meyer. In addition, the Separation Agreement includes a general release and waiver of claims by Mr. Meyer related to Mr. Meyer's separation from the Company, but does not include the waiver of claims against Mr. Meyer for his period as an employee or director of certain entities within Net1 group.

The foregoing descriptions of the Separation Agreement is qualified in its entirety by reference to the text of such agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

--------------------------------------------------------------------------------

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No. Description



   10.1       Separation Agreement, dated October 30, 2020, by and between the
            Company and Philippus S. Meyer

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses