Net1 International – Extended waivers on the Gemcorp Loan and further increases and extensions of Bridge Loans

Net1 International – Extended waivers on the Gemcorp Loan and further increases and extensions of Bridge Loans

Oslo, 9 October 2020 – Net1 International Holdings AS (“Net1 AS” or the “Group”, NOTC Ticker: Net1) announces receiving extended waivers on the Gemcorp Loan and additional liquidity from Rasmussengruppen and Sampoerna.

Reference is made to the press release on 26 August 2020 and to the H1 2020 Interim Financial Report published on 17 September 2020.

• The waivers under the Gemcorp Loan obtained on in August 2020 have been extended to 10 November 2020.
• The existing loan agreements with Rasmussengruppen and Sampoerna (the ‘Bridge Loans’) have been increased with USD 2 million and USD 1 million respectively, bringing the amount drawn down under these shareholder loans to a total of USD 14.5 million, and extended to 10 November 2020. Upon successful refinancing of the Gemcorp Loan, the maturity of the Bridge Loans is expected be extended further.

ENDS