Keyware Technologies | Press Release


March 2021


PRESS RELEASE                                                                                                 25 March 2021 – 23:00 CET

Keyware Technologies concludes agreement to remedy certain transactions with Big Friend NV and its affiliated persons

Zaventem (Belgium) –  On 25 March 2021, Keyware Technologies has concluded an agreement with Big Friend NV (CEO of Keyware Technologies and member of the board of directors) and its affiliated persons.

In the context of the audit of the annual accounts for the financial year 2020, questions arose regarding the methods used and/or the market conformity of certain transactions between the Keyware Technologies group on the one hand and Big Friend NV (and its affiliated persons) on the other hand. Keyware Technologies has subsequently instructed an independent third party to conduct a forensic audit. 

Based on the findings of this audit, Keyware Technologies concluded an agreement with Big Friend NV (and its affiliated persons) on 25 March 2021. In this agreement, a non-documented current account relationship was terminated, certain relationships were adjusted to ensure their market conformity and it was decided to repay a number of transactions for which there were no adequate supporting documents. The agreement was concluded following the unanimous advice of the committee of independent directors of Keyware Technologies.

For further information on this agreement, please consult the public announcement in accordance with Article 7:97, §4/1 of the Code of Companies and Associations, which is available on the website and attached to this press release.

For questions about this press release or for further information, please contact M. Guido Van der Schueren.