Naspers Ltd - Sep 27, 2021 Form 4 Insider Report for Remitly Global, Inc. (RELY)

Role
10%+ Owner
Signature
/s/ Nico Marais, Authorized Representative Naspers Limited
Stock symbol
RELY
Transactions as of
Sep 27, 2021
Transactions value $
$24,999,985
Form type
4
Date filed
9/29/2021, 04:10 PM
Previous filing
Sep 22, 2021
Next filing
Oct 28, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RELY Common Stock Conversion of derivative security +36.7M +244969% 36.8M Sep 27, 2021 See Footnotes F1, F2, F3, F4
transaction RELY Common Stock Purchase $25M +581K +1.58% $43.00 37.3M Sep 27, 2021 See Footnotes F3, F4, F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction RELY Series Seed Prime Convertible Preferred Stock Conversion of derivative security -71.6K -100% 0 Sep 27, 2021 Common Stock 71.6K See Footnotes F2, F3, F4
transaction RELY Series A Convertible Preferred Stock Conversion of derivative security -1.26M -100% 0 Sep 27, 2021 Common Stock 1.26M See Footnotes F2, F3, F4
transaction RELY Series C Convertible Preferred Stock Conversion of derivative security -1.62M -100% 0 Sep 27, 2021 Common Stock 1.62M See Footnotes F2, F3, F4
transaction RELY Series D Convertible Preferred Stock Conversion of derivative security -26.4M -100% 0 Sep 27, 2021 Common Stock 26.4M See Footnotes F2, F3, F4
transaction RELY Series E Convertible Preferred Stock Conversion of derivative security -1.68M -100% 0 Sep 27, 2021 Common Stock 1.68M See Footnotes F2, F3, F4
transaction RELY Series F Convertible Preferred Stock Conversion of derivative security -5.74M -100% 0 Sep 27, 2021 Common Stock 5.74M See Footnotes F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The total represents shares received upon conversion of shares of Series Seed Prime Convertible Preferred Stock, Series A Convertible Preferred Stock, Series C Convertible Preferred Stock, Series D Convertible Preferred Stock, Series E Convertible Preferred Stock and Series F Convertible Preferred Stock.
F2 The reported security converted into the Issuer's Common Stock on a one-for-one basis automatically immediately prior to the closing of the Issuer's initial public offering without payment of further consideration. The shares have no expiration date.
F3 Represents shares directly held by PayU Fintech Investments B.V. ("PayU") and indirectly held by Prosus N.V. and Naspers Ltd. PayU is a subsidiary of MIH Fintech Holdings B.V., which in turn is a subsidiary of MIH e-Commerce Holdings B.V., which in turn is a subsidiary of MIH Internet Holdings B.V., which is in turn a subsidiary of Prosus N.V., which is an indirect, majority-owned subsidiary of Naspers Ltd. PayU is controlled by Prosus N.V. and Naspers Ltd., which share voting and dispositive control over the shares held by PayU.
F4 (Continued from Footnote 3) Naspers Ltd. employs a differential voting structure involving two South African entities, Naspers Beleggings (RF) Beperk ("Nasbel") and Keeromstraat 30 Beleggings (RF) Beperk ("Keerom"), the sole remit of which is to protect the continued independence of Naspers Ltd. Each of Nasbel and Keerom disclaims beneficial ownership of all shares of Common Stock owned by the Reporting Persons, except to the extent of their respective pecuniary interest therein. Laurent Le Moal, a member of board of directors of the Issuer, is the Chief Executive Officer of PayU, but has no voting or dispositive control over the shares held by PayU.
F5 Represents shares of Common Stock purchased from the Issuer in a private placement that closed immediately following the Issuer's initial public offering.