Sec Form 4 Filing - Maitland Trustees LTD @ NET 1 UEPS TECHNOLOGIES INC - 2005-08-08

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Maitland Trustees LTD 2. Issuer Name and Ticker or Trading Symbol NET 1 UEPS TECHNOLOGIES INC [ "NUEP.OB"] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 9 COLUMBUS CENTRE, PELICAN DRIVE 3. Date of Earliest Transaction (MM/DD/YY) 08/08/2005 (Street) ROAD TOWN, TORTOLA, D8D8 PO BOX 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock, par value $0.001 per share 08/03/2005 S 566,667 ( 1 ) D $ 22 2,454,817 I See Notes ( 2 ) ( 3 )

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Maitland Trustees LTD 9 COLUMBUS CENTRE PELICAN DRIVE ROAD TOWN, TORTOLA, D8D8 PO BOX X Signatures Lucy Woolnough of Maitland Trustees Limited 12/28/2005 Signature of Reporting Person Date

Explanation of Responses:

( 1 )After giving effect to the 6-for-1 reverse stock split consummated by Net 1 prior to the initial public offering. ( 2 )Maitland may be deemed to be the beneficial owner of the 2,454,817 shares of Net 1 as it has discretionary authority and control indirectly over all of the assets of each of PBE2 and BPESA, including the power to dispose of the Shares. ( 3 )The Reporting Persons are Brenthurst Private Equity II Limited ("BPE2"), Brenthurst Private Equity South Africa I Limited ("BPESA"), Brenthurst Limited ("Brenthurst"), Theseus Limited ("Theseus") and Maitland Trustees Limited ("Maitland"). The securities are held of record by BPE2 (1,641,544 shares) and BPESA (813,272 shares). As controlling shareholder of BPE2 and BPESA, Brenthurst may be deemed to be the beneficial owner of securities held by them. As the parent company of Brenthurst, Theseus may be deemed to be the beneficial owner of securiites held by Brenthurst. As the parent company of Theseus, Maitland may be deemed to be the beneficial owner of securities held by Theseus. Each of the Reporting Persons, except for BPE2 and BPESA, disclaims beneficial ownership of the securities, except to the extent of its pecuniary interest.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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