TIDMIQE

RNS Number : 1532U

IQE PLC

29 July 2022

IQE plc

Cardiff, UK

29 July 2022

Director/PDMR Shareholding

IQE plc (AIM: IQE, "IQE" or the "Group"), the leading supplier of compound semiconductor wafer products and advanced material solutions to the global semiconductor industry , was notified on 27 July 2022 that Dr Drew Nelson, President and Non-Executive Director of the Company, has extended his sale and repurchase agreement with Equities First Holdings ("EFH") for 11,000,000 ordinary shares of 1 pence each in the Company ("Ordinary Shares") ("EFH Sale Shares") (the "Agreement") together with an additional 1,121,711 Ordinary Shares, the subject of a margin call as per the announcement on 11 May 2020 (the "Margin Call Shares").

As first announced on 6 August 2019, under the original terms of the Agreement, Dr Nelson was obligated to repurchase (and EFH was obligated to sell to Dr Nelson) the EFH Sale Shares at the end of a three year term, ending on 02 August 2022. Dr Nelson has now extended the Agreement with EFH such that the total term is now five years, ending on 5 August 2024. At the same time, EFH will return the Margin Call Shares. The price at which Dr Nelson is required to repurchase the EFH Sale Shares remains 43.96 pence per share. All other terms under the Agreement, as disclosed on 6 August 2019, remain the same.

Dr Nelson maintains a beneficial interest in 40,567,234 Ordinary Shares, representing 5.04% of the Company's issued share capital.

The notification set out below is provided in accordance with the requirements of the EU Market Abuse Regulation.

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

 
1.  Details of the Person discharging managerial responsibilities ("PDMR") / person closely associated 
     with them ("PCA") 
a)  Name                                     Dr Andrew Nelson 
    ---------------------------------------  ------------------------------------------------------------------------- 
2.  Reason for the notification 
    ------------------------------------------------------------------------------------------------------------------ 
a)  Position / status                        PDMR (Non-Executive Director) 
    ---------------------------------------  ------------------------------------------------------------------------- 
b)  Initial notification / amendment         Initial notification 
    ---------------------------------------  ------------------------------------------------------------------------- 
3.  Details of the issuer, emission allowance market participant, auction platform, auctioneer 
     or auction monitor 
    ------------------------------------------------------------------------------------------------------------------ 
a)  Name                                     IQE plc 
    ---------------------------------------  ------------------------------------------------------------------------- 
b)  Legal Entity Identifier                  213800Y33WHD3ESJJP16 
    ---------------------------------------  ------------------------------------------------------------------------- 
4.  Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) 
     each type of transaction; (iii) each date; and (iv) each place where transactions have been 
     conducted 
    ------------------------------------------------------------------------------------------------------------------ 
a)  Description of the financial instrument  Ordinary shares of 1 pence each in the Company 
 
                                              GB0009619924 
    ---------------------------------------  ------------------------------------------------------------------------- 
b)  Nature of the transaction                 1) Extension of a repurchase agreement with Equities First Holdings for 
                                              11,000,000 Ordinary 
                                              Shares from 2 August 2022 to 5 August 2024 
                                              2) Extension of deposit of 1,121,711 Ordinary Shares from 2 August 2022 
                                              to 5 August 2024 
    ---------------------------------------  ------------------------------------------------------------------------- 
c)  Price(s) and volume(s)                     1) 11,000,000 ordinary shares at 43.96 pence per share 
                                                2) 1,121,711 Ordinary Shares at nil consideration 
    ---------------------------------------  ------------------------------------------------------------------------- 
d)      Aggregated information 
          *    Aggregated volume                 1) 11,000,000 ordinary shares at 43.96 pence per share 
                                                 2) 1,121,711 Ordinary Shares at nil consideration 
 
          *    Aggregated price 
    ---------------------------------------  ------------------------------------------------------------------------- 
e)  Date of the transaction(s)               26 July 2022 
    ---------------------------------------  ------------------------------------------------------------------------- 
f)  Place of the transaction                 Outside a trading venue 
    ---------------------------------------  -------------------------------------------------------------------------

Contacts:

IQE plc

+44 (0) 29 2083 9400

Americo Lemos

Tim Pullen

Amy Barlow

Peel Hunt LLP (Nomad and Joint Broker)

+44 (0) 20 7418 8900

Edward Knight

Paul Gillam

James Smith

Citigroup Global Markets Limited (Joint Broker)

+44 (0) 20 7986 4000

Christopher Wren

Peter Catterall

Headland Consultancy (Financial PR)

+ 44 (0) 20 38054822

Andy Rivett-Carnac: +44 (0) 7968 997 365

Antonia Pollock: +44 (0) 7789 954 356

ABOUT IQE

http://iqep.com

IQE is the leading global supplier of advanced compound semiconductor wafers and materials solutions that enable a diverse range of applications across:

   --    handset devices 
   --    global telecoms infrastructure 
   --    connected devices 
   --    3D sensing

As a scaled global epitaxy wafer manufacturer, IQE is uniquely positioned in this market which has high barriers to entry. IQE supplies the whole market and is agnostic to the winners and losers at chip and OEM level. By leveraging the Group's intellectual property portfolio including know-how and patents, it produces epitaxy wafers of superior quality, yield and unit economics.

IQE is headquartered in Cardiff UK, with c. 685 employees across nine manufacturing locations in the UK, US, Taiwan and Singapore, and is listed on the AIM Stock Exchange in London.

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END

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