Lesaka Announces the Repurchase of Common Shares
19 May 2023 - 6:05AM
Lesaka Technologies, Inc. (“Lesaka” or the “Company”) (NasdaqGS:
LSAK; JSE: LSK) today announced that it has repurchased
approximately 250,000 of the Company’s common shares in May 2023,
at a price of $3.26 per share (ZAR 62.08 per share using the
relevant USD: ZAR exchange rate).
Lesaka Group CEO Chris Meyer said: “We reported
another quarter of growth and transformation last week, driven by
the acquisition of the Connect Group in our Merchant Division and
the successful turnaround in our Consumer Division, despite the
persistently challenging economic environment.
Our focus is to increase shareholder value by strategically
allocating capital to grow our business while maintaining an
appropriate capital structure. We are continuously evaluating
investing for growth against share buyback opportunities to enhance
long-term shareholder value.
We believe this repurchase reflects the confidence of Lesaka’s
Board and management team regarding our outlook. Lesaka is well
positioned to benefit from the exponential secular demand for
innovative fintech solutions that are transforming South Africa’s
highly cash-driven informal economy.
The continued digitalization of South Africa’s informal economy
serves as a durable catalyst for our business but ultimately our
success is built on the success of our customers.”
About Lesaka (www.lesakatech.com)
Lesaka Technologies, (Lesaka™) is a South
African Fintech company that utilizes its proprietary banking and
payment technologies to deliver superior financial services
solutions to merchants (B2B) and consumers (B2C) in Southern
Africa. Lesaka’s mission is to drive true financial inclusion for
both merchant and consumer markets through offering affordable
financial services to previously underserved sectors of the
economy. Lesaka offers cash management solutions, growth capital,
card acquiring, bill payment technologies and value-added services
to formal and informal retail merchants as well as banking,
lending, and insurance solutions to consumers across Southern
Africa. The Lesaka journey originally began as “Net1” in 1997 and
later rebranded to Lesaka (2022), with the acquisition of Connect.
As Lesaka, the business continues to grow its systems and
capabilities to deliver meaningful fintech-enabled, innovative
solutions for South Africa’s merchant and consumer markets.
Lesaka has a primary listing on NASDAQ
(NasdaqGS: LSAK) and a secondary listing on the Johannesburg Stock
Exchange (JSE: LSK). Visit www.lesakatech.com for additional
information about Lesaka Technologies (Lesaka™).
Investor Relations and Media Relations
Contact:Phillipe WelthagenEmail:
phillipe.welthagen@lesakatech.comMobile: +27 84 512 5393
FNK IR:Rob Fink / Matt Chesler, CFAEmail:
lsak@fnkir.com
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