CML Microcircuits Regulatory News (CML)

3 October 2022

CML Microsystems Plc

("CML" or the "Company")

Share Buyback Programme

CML is pleased to announce the launch of a share buyback programme of up to £1.0 million (the "Programme").

The Company has shareholder authority to repurchase 2,386,000 ordinary shares of 5 pence each ("Ordinary Shares") as approved at its last AGM (which represents c.15 per cent. of the Company's issued ordinary share capital). The Board has decided to launch the Programme to return funds to shareholders.

The maximum daily number of Ordinary Shares that will be purchased is 1,579, which is 25% of the average daily volume traded in September 2022, the month prior to this announcement. The Programme is currently expected to end no later than 12 months from the date of this announcement and in order to continue past the Company's 2023 AGM, which is typically held in August each year, a new shareholder authority will need to be obtained at the AGM for the Company to purchase its own shares. The principal purpose of the Programme is to reduce the share capital of the Company and return funds to shareholders who sell their Ordinary Shares; repurchased Ordinary Shares may be taken into treasury or cancelled.

In order to effect the Programme, the Company has entered into an agreement with the its broker, Shore Capital Stockbrokers Limited ("Shore Capital"), to carry out on-market purchases of its Ordinary Shares. This agreement includes provisions giving Shore Capital authority to carry out market purchases under the Programme independently of the Company.

The Programme will be conducted within the safe harbour parameters of the Market Abuse Regulation 596/2014/EU and the Commission Delegated Regulation 2016/1052/EU (each as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018, including where relevant pursuant to the Market Abuse (Amendment) (EU Exit) Regulations 2019) and Chapter 12 of the Listing Rules. The Company confirms that it currently has no other unpublished price sensitive information. Details of all purchases made pursuant to the Programme will be announced via RNS and published on the Company's website as required by the Market Abuse Regulation.

Enquiries:

UK MAR: This announcement is released by the Company and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 ("MAR") as it forms part of UK domestic law by virtue of the EUWA ("UK MAR"), encompassing information relating to the trading performance of the Company. For the purposes of UK MAR and Article 2 of the binding technical standards published by the Financial Conduct Authority in relation to MAR as regards Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Chris Gurry, Group Managing Director.

About CML Microsystems PLC

CML develops mixed-signal, RF and microwave semiconductors for global communications markets. The Group utilises a combination of outsourced manufacturing and in-house testing with trading operations in the UK, Asia and USA. CML targets sub-segments within Communication markets with strong growth profiles and high barriers to entry. It has secured a diverse, blue chip customer base, including some of the world's leading commercial and industrial product manufacturers.

The spread of its customers and diversity of the product range largely protects the business from the cyclicality usually associated with the semiconductor industry. Growth in its end markets is being driven by factors such as the appetite for data to be transmitted faster and more securely, the upgrading of telecoms infrastructure around the world and the growing prevalence of private commercial wireless networks for voice and/or data communications linked to the industrial internet of things (IIoT).

The Group is cash-generative, has no debt and is dividend paying.