RE: Share Price12 May 2026 15:26
@ProfitJock
This is AI stuff:
Think of this as a "reset" for both the company and its biggest investor. Here is the simplest way to look at it:
1. The Emergency Loan is Ending
Over the last year, IQE was short on cash. Lombard Odier acted like a "bank of last resort" by lending them money through Convertible Notes (special IOUs). Because these notes could have been turned into shares at any time, they were counted as part of Lombard's total "control" or voting rights in the company.
2. The New Partner (MACOM)
On April 27, IQE found a big new partner called MACOM who is bringing in a lot of fresh money. IQE is using that new money to pay back Lombard’s loan in cash. Since that loan is now being "cancelled" and repaid, the voting rights attached to it have vanished from the official paperwork. This is why you see Lombard’s percentage dropping from 11% to 9% right now—the "loan" portion of their power is gone.
3. The Big Reinvestment
Even though Lombard is getting their loan money back, they aren't leaving. They have promised to take £22.8 million of that cash and immediately buy new shares at 19.8p each.
Why? It shows they still believe in IQE’s future.
The Result: After the vote on May 15, Lombard will actually own more total shares than before, but because the company is issuing millions of other new shares to MACOM, Lombard’s percentage of the total company stays smaller.
The takeaway: Lombard is moving from being the "emergency lender" to being a "regular shareholder" alongside a new, powerful partner in MACOM.
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