Net 1 UEPS Technologies, Inc. (NASDAQ: UEPS) (JSE: NT1) (“Net1” or the “Company”) announced today the appointment of Mr. Alfred Mockett as an independent non-employee director of the Company, effective June 1, 2017. He will also serve on the nominating and corporate governance, audit and remuneration committees.

Mr. Mockett’s career spans more than 30 years of guiding publicly and privately held corporations worldwide. He has served as chief executive officer of Dex One Corporation, a NASDAQ-listed provider of online, mobile and print marketing solutions, chairman and chief executive officer of Motive Inc, a NASDAQ-listed provider of broadband and mobile service management software, chairman and chief executive officer of American Management Systems, a billion dollar NYSE-listed consulting firm to the global financial services and communications industries, and chief executive officer of British Telecommunications divisions and subsidiaries: BT Ignite, BT Worldwide, BT Global Communications, and BT Special Businesses.

Mr. Mockett currently serves as non-executive chairman of Hibu Group Limited and non-executive director of Corporate Risk Holdings LLC.

“We welcome Alfred Mockett to the board as he is a highly regarded executive with an extensive international track record, and a detailed understanding of financial services and communications industries globally,” said Mr. Christopher S. Seabrooke, chairman of Net1. “The appointment of Alfred as a non-employee director is in line with our stated intention to reinforce good governance by increasing the number of local and international independent directors on our board,” he concluded.

In terms of Net1’s policy agreement with the International Finance Corporation (“IFC”), a member of the World Bank Group, and a major shareholder in Net1, the IFC has the right to nominate one independent director to the board of the Company. The IFC has advised the Company that it regards Mr. Mockett as the independent director nominated by them under the agreement.

Net1’s board now comprises one executive and four independent directors. The Company expects to announce additional appointments in due course.

Author: Alan