Report on the progress of the share buy-back programme / appointment of new coo : david leynen / financial calendar 2020
Report on the progress of the share buy-back programme
Appointment of new COO : David Leynen
Financial Calendar 2020
Brussels, Belgium – 6 January 2020 – Keyware (EURONEXT Brussels: KEYW) reports on the progress of its share buy-back programme capped to EUR 1 million and the appointment of its new COO, Mr. David Leynen.
Share buy-back programme
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 12,577 treasury shares at Euronext Brussels in the period between 30 December 2019 and 3 January 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 837,101 treasury shares on 3 January 2020 or 3.5555 % 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 : 290,179 shares
The ongoing share buy-back programme is further executed within the indicated maximum amount of EUR 1,000,000. Under this programme, 290,179 treasury shares in total have been purchased for an amount of EUR 274,356.47. Hence, the remaining balance amounts to EUR 725,643.53 (which corresponds to approximately 824,594 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”.
Appointment of new COO
Keyware is pleased to announce the appointment of Mr. David Leynen as the new COO for the Keyware Group. He holds a Master Degree Civil Engineering in Electricity, Electronics and Computer Science and an Executive Master in Management at Solvay Business School.
David brings an extensive knowledge of the electronic payments industry with positions held as CTO at Sodexo, CCO at FICS/S1, Customer Services at MasterCard Europe and CIO/IT Director at Group Jolimont. As COO he will be part of Keyware’s Executive Management Team.
Stéphane Vandervelde, President & CEO : “We like to thank Wim Verfaille for his 12 years of focus and dedication to the successful technological and operational growth of Keyware Group and wish him all the best with his future activities. At the same time, we welcome David Leynen to actively participate in the further growth and development of the Company.”