LESAKA TECHNOLOGIES INC — Director's Dealing 2013

May 9, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NET 1 UEPS TECHNOLOGIES INC (UEPS)
CIK: 0001041514
Period of Report: 2013-05-08

Reporting Person: Belamant Serge (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-05-08	Common Stock	A	71118	$8.43	Acquired	343608	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	725799	Indirect

Footnotes

F1: On September 14, 2012, the issuer acquired all of the issued and outstanding ordinary shares of Pbel (Pty) Ltd for cash and 142,236 shares of the issuer's common stock, the issuance of which was contingent on the achievement of predefined Pbel financial performance milestones over three years. The reporting person owned 50% of Pbel's issued and outstanding ordinary shares and was thus contingently entitled to receive an aggregate of 71,118 shares of the issuer's common stock. The first financial performance milestone was achieved and on May 8, 2013, the issuer determined that the reporting person became entitled to receive 23,706 shares.

F2: The 71,118 share number was calculated as R5,000,000; divided by the volume-weighted average price of the issuer's common stock on the Nasdaq Stock Market for the 30 days prior to the issuer making an offer for Pbel (or $8.43); divided by the average R:$ exchange rate for the 30 days preceding July 2, 2012 (or R8.34:$1).