Sec Form 4 Filing - International Value Advisers, LLC @ NET 1 UEPS TECHNOLOGIES INC - 2020-04-15

Insider filing report for Changes in Beneficial Ownership
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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
International Value Advisers, LLC
2. Issuer Name and Ticker or Trading Symbol
NET 1 UEPS TECHNOLOGIES INC [ UEPS]
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)
717 FIFTH AVENUE, 10TH FLOOR
3. Date of Earliest Transaction (MM/DD/YY)
04/15/2020
(Street)
NEW YORK, NY10022
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_____ Form filed by One Reporting Person
__ X __ 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 04/15/2020 S 1,718,202 D $ 3.44 926,022 I See Footnotes ( 1 ) ( 6 )
Common Stock 04/15/2020 S 844,941 D $ 3.5 81,081 I See Footnotes ( 1 ) ( 6 )
Common Stock 04/15/2020 S 741,452 D $ 3.44 814,742 I See Footnotes ( 2 ) ( 6 )
Common Stock 04/15/2020 S 814,742 D $ 3.5 0 I See Footnotes ( 2 ) ( 6 )
Common Stock 04/15/2020 S 50,221 D $ 3.44 52,651 I See Footnotes ( 3 ) ( 5 ) ( 6 )
Common Stock 04/15/2020 S 52,651 D $ 3.5 0 I See Footnotes ( 3 ) ( 5 ) ( 6 )
Common Stock 04/15/2020 S 81,454 D $ 3.44 94,761 I See Footnotes ( 4 ) ( 5 ) ( 6 )
Common Stock 04/15/2020 S 94,761 D $ 3.5 0 I See Footnotes ( 4 ) ( 5 ) ( 6 )
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
International Value Advisers, LLC
717 FIFTH AVENUE
10TH FLOOR
NEW YORK, NY10022
X
DE VAULX CHARLES
717 FIFTH AVENUE, 10TH FLOOR
NEW YORK, NY10022
X
DE LARDEMELLE CHARLES
717 FIFTH AVENUE, 10TH FLOOR
NEW YORK, NY10022
X
Signatures
/s/ Charles de Vaulx as managing member of International Value Advisers, LLC 04/17/2020
Signature of Reporting Person Date
/s/ Charles de Vaulx 04/17/2020
Signature of Reporting Person Date
/s/ Charles de Lardemelle 04/17/2020
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Shares of the common stock (the "Shares") of Net 1 UEPS Technologies Inc. (the "Issuer") held directly by IVA Worldwide Fund, a series of IVA Fiduciary Trust ("IVA International"). International Value Advisers, LLC ("IVA") serves as the investment adviser to IVA Worldwide.
( 2 )Shares of the Issuer held directly by IVA International Fund, a series of IVA Fiduciary Trust ("IVA International) and together with IVA Worldwide, the "Mutual Funds". IVA serves as the investment adviser of IVA International.
( 3 )Shares of the Issuer held directly by IVA Global Fund (Delaware), L.P. ("IVA Global") and together with IVA Overseas, the "Partnerships". IVA serves as the investment adviser to IVA Global and is the managing member of IVA Global's general partner.
( 4 )Shares of the Issuer held directly by IVA Overseas Master Fund, L.P. ("IVA Overseas") and together with IVA Global, the "Partnerships". IVA serves as the investment adviser to IVA Overseas and is the managing member of IVA Overseas's general partner.
( 5 )IVA, as the managing member of the Partnerships' general partners may be deemed to have an indirect pecuniary interest in the general partners' proportionate interest in the Shares of the Issuer owned directly by the Partnerships.
( 6 )Charles de Vaulx and Charles de Lardemelle, as co-Chief Investment Officers and managing members of IVA may be deemed to have an indirect pecuniary interest in their proportionate interest in the Shares of the Issuer owned by the Mutual Funds and Partnerships. Each of IVA, Mr. de Vaulx and Mr. de Lardemelle disclaims Section 16 beneficial ownership of the Shares of the Issuer held directly by the Mutual Funds and Partnerships except to the extent of their pecuniary interest therein.

Remarks:
IVA serves as investment adviser to certain unaffiliated separately managed accounts (the "Managed Accounts"). IVA only receives an asset-based management fee from advising the Managed Accounts and therefore does not have any pecuniary interest in the Shares of the Issuer held directly by the Managed Accounts.

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