Net 1 UEPS: Deadline for deal extended

Net 1 UEPS Technologies has extended the deadline to meet all the conditions contained in the black economic empowerment relationship agreement it will conclude with a consortium led by Mosomo Investment. The date was postponed to April 15 from March 15. The company said yesterday the parties had signed a second addendum to each of the relationship agreements dated December 10, in order to extend the date. Net 1, which provides technology for payment processes in South Africa, Korea and Ghana, signed a letter of intent in November to issue 4.4 million at a price of R88.50 a share to Business Venture Investments, a special purpose vehicle, owned by the consortium. Net 1 shares were unchanged at R110 on the JSE. – Asha Speckman