13G Filing: Allan Gray Proprietary Ltd Holding Onto Net 1 Ueps Technologies Inc (UEPS) Shares

Page 2 of 2

Page 2 of 2 SEC Filing

CUSIP No.: 64107N206
ITEM 1(a). NAME OF ISSUER:
NET 1 UEPS TECHNOLOGIES INC

ITEM 1(b).ADDRESS OF ISSUER’S PRINCIPAL EXECUTIVE OFFICES:

4th Floor, North Wing, President Place | Cnr Jan Smuts Ave & Bolton Road
Rosebank | Johannesburg | South Africa

ITEM 2(a).NAME OF PERSON FILING:

Rob Dower on behalf of Allan Gray Proprietary Limited

ITEM 2(b).ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:

1 Silo Square, V&A Waterfront, Cape Town, 8001

ITEM 2(c).CITIZENSHIP:

South Africa

ITEM 2(d).TITLE OF CLASS OF SECURITIES:

Common Stock

ITEM 2(e).CUSIP NUMBER:

64107N206

ITEM 3.IF THIS STATEMENT IS FILED PURSUANT TO SECTION 240.13d-1(b), or 13d-2(b) or (c) CHECK WHETHER THE PERSON FILING IS A:

(a)

[ ]

Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78c);

(b)

[ ]

Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c);

(c)

[ ]

Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c);

(d)

[ ]

Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8);

(e)

[ ]

An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E);

(f)

[ ]

An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F);

(g)

[ ]

A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G);

(h)

[ ]

A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i)

[ ]

A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j)

[X]

A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J);

(k)

[ ]

Group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d1(b)(1)(ii)(J), please specify the type of institution:

Reliance on Rule 13d-1(b) from date of event

ITEM 4.OWNERSHIP(a) Amount beneficially owned:Allan Gray Proprietary Limited – 8,605,256

(A subsidiary of Allan Gray Proprietary Limited) Allan Gray Unit Trust Management (RF) Proprietary Limited – 3,257,783


(b) Percent of class:Allan Gray Proprietary Limited – 18.4347%

(A subsidiary of Allan Gray Proprietary Limited) Allan Gray Unit Trust Management (RF) Proprietary Limited – 6.9790%(c) Number of shares as to which the person has:(i) sole power to vote or to direct the vote:660,770(ii) shared power to vote or to direct the vote:0(iii) sole power to dispose or direct the disposition of:8,605,256(iv) shared power to dispose or to direct the disposition of:0ITEM 5.OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following
[ ].

ITEM 6.OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:ITEM 7.IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:

Allan Gray Life Limited, Allan Gray South Africa Proprietary Limited, Allan Gray Unit Trust Management (RF) Proprietary Limited

ITEM 8.IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:

All entities listed in Item 7 are wholly owned by Allan Gray Proprietary Limited.

ITEM 9.NOTICE OF DISSOLUTION OF GROUP:ITEM 10.CERTIFICATION:

By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to Allan Gray Proprietary Limited, a qualified institutional investor, is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

Follow Lesaka Technologies Inc (NASDAQ:LSAK)

Page 2 of 2