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Net 1 UEPS Technologies Issues Statement Regarding SEC, DOJ Investigations


Net 1 UEPS Technologies (NASDAQ: UEPS). On December 4, 2012, we made public disclosure through a filing with the Securities and Exchange Commission ("SEC") that we have received letters from the U.S. Department of Justice, Criminal Division ("DOJ") and the SEC informing us that they are conducting investigations concerning our company. We recognize that the announcement of these investigations raises questions and concerns about our company and our SASSA contract.As a preliminary matter, we believe that it is important to note that these investigations are investigations and not findings of wrongdoing on the part of any person and that we are fully cooperating with the investigations.We want to assure our stakeholders that we are continuing to provide the South African government with our payment delivery service to the millions of South Africans who depend on us to deliver their social security grants in a timely and efficient manner and that we have no reason to believe that these investigations will impact our ability to continue to do so.These investigations appear to be directed at matters which are similar to those that were the subject of articles which appeared in various South

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Posted-In: News Guidance Management Global


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