Report on the progress of the share buy-back programme

Report on the progress of the share buy-back programme
Brussels, Belgium – 14 April 2020 – Keyware (EURONEXT Brussels: KEYW) reports on the progress of its share buy-back programme capped to EUR 1 million.
The Extraordinary General Shareholders Assembly of Keyware Technologies held on 27 May 2016 has authorized the Board of Directors to launch a share buy-back programme.

On 30 August 2018, the Board of Directors has decided to launch a new share buy-back programme capped to EUR 1 million and starting as of 1 October 2018, and afterwards extended by one year until 30 September 2020 as a result of the decision of the Board of Directors held on 29 August 2019.

Transactions of the previous week

Referring to article 207 of the Royal decree of 30 January 2001 in execution of the Companies code (art. 620 § 1), as modified by Royal Decree of 26 April 2009, Keyware Technologies communicates that it has purchased 4,480 treasury shares at Euronext Brussels in the period between 6 April 2020 and 10 April 2020.

Disposal of treasury shares

The three following disposals took already place:

30 June 2017 : 47,400 shares for an amount of EUR 75,000 (EUR 1.582 per share)
29 December 2017 : 16,887 shares for an amount of EUR 25,000 (EUR 1.48 per share)
10 January 2019 : 26,323 shares for an amount of EUR 25,000 (EUR 0.95 per share)
In each of these cases the selling price has been determined on the basis of the average closing quotes during the 30 calendar days preceding the date of the disposal.

Number of shares held

As a result of the buy-back transactions up to date and the three abovementioned disposals for on aggregate 90,610 shares, the Company holds a total of 927,288 treasury shares on 10 April 2020 or 3.9386 % of the actual number of shares issued (i.e. 23,543,793).

This number of shares can be allocated as follows:

Previous share buy-back programme :                                                 546,922 shares
Ongoing share buy-back programme :                                                  380,366 shares
The ongoing share buy-back programme is further executed within the indicated maximum amount of EUR 1,000,000. Under this programme, 380,366 treasury shares in total have been purchased for an amount of EUR 345,399.41. Hence, the remaining balance amounts to EUR 654,600.59 (which corresponds to approximately 1,047,360 shares).

For an overview of the purchases of treasury shares we refer to our website: http://www.keyware.com/legal-information under the title “Share buy-back programme”.

keywarepr-share-buy-back14-04-2020.pdf