| Home : November 19 2016 Computer News : Net1 extends Blue Label subscription date and amends related guarantee and stock purchase agreements |
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Net1 extends Blue Label subscription date and amends related guarantee and stock purchase agreements |
November 19, 2016
JOHANNESBURG, SOUTH AFRICA--(Marketwired - November 18, 2016) - Net 1 UEPS Technologies, Inc. ("Net1" or the "Company") (NASDAQ: UEPS) (JSE: NT1) today announced that it has agreed with Blue Label Telecoms Limited ("Blue Label") to extend the subscription date for the Company's proposed investment in Blue Label. On November 16, 2016, Blue Label's shareholders voted in favour of placing approximately 118 million authorised but unissued Blue Label shares under the control of Blue Label's directors for the purpose of the Net1 vendor consideration placement pursuant to Blue Label's proposed investment in Cell C. The Blue Label shareholders also approved the proposed acquisition of 45% of Cell C, subject to the successful recapitalization of Cell C.
Link: http://www.marketwired.com/mw/release.do?id=2177111&sourceType=3
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