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Shorting level decreasing, not increasing. Or are you getting your info from somewhere I'm not? https://shorttracker.co.uk/company/GB0004915632/
Acquisition of 100% of CSDC Private Limited ("CSDC")
Cardiff, UK 10 October 2019: IQE plc (AIM: IQE) the leading supplier of
advanced wafer products and material solutions to the semiconductor
industry, announces the acquisition of third-party shareholdings in its
CSDC joint venture in Singapore taking its ownership to 100%.
CSDC was formed in March 2015 as a joint venture between IQE's
Singaporean subsidiary MBE Technology Pte Limited (51%), WIN
Semiconductors Corp (25%), Nanyang Technological University (18%) and
individuals of the NanYang University (6%). It was established as a
vehicle for the development and commercialisation of compound
semiconductor technologies for academic and industrial customers based
on Molecular Beam Epitaxy (MBE) technologies in Asia.
Since formation, the geo-political landscape has changed significantly.
During 2019 in particular, the localisation of Asian technology supply
chains is rapidly becoming evident and significant opportunities are
emerging for the China 5G market.
By taking the operation under 100% ownership, IQE is best placed to
1. Take the necessary steps to restructure the operation which is currently
loss-making as a result of under-utilisation of assets and property lease
obligations; and
2. Pursue Asian market sales opportunities for MBE-based products to return
the operation to profitability.
Revenue recognised by IQE and its Singaporean subsidiary will be
unaffected by the transaction. It is anticipated that post acquisition
adjusted EBITDA and adjusted Operating Profit in the consolidated group
accounts for FY19 will be adversely affected by c.GBP0.5m.
The acquisition is for a nominal fee of USD$1 to WIN Semiconductors Corp
and SGD$1 to each of the other third party shareholders, to be settled
in cash. The non-cash balance sheet impacts will be finalised as part of
the completion of acquisition accounting for the shareholdings.
For the year ended 31 December 2018, CSDC recorded net losses of
SGD$8.9m. The net liabilities attributable to CSDC as at 31 December
2018 were SGD$15.4m.
Drew Nelson will remain as a Director of CSDC and LG Yeap, General
Manager for MBE Technology Pte Limited, will become a Director of CSDC.
The acquisition constitutes a related party transaction under AIM Rule
13 by virtue of WIN Semiconductors Corp and Nanyang Technological
University being substantial shareholders in CSDC hence they are related
parties under the AIM Rules.
The directors of the Company, having consulted with Peel Hunt LLP in its
capacity as the Company's nominated adviser for the purposes of the AIM
Rules, consider the terms of the transaction to be fair and reasonable
insofar as the Company's shareholders are concerned.
Lots of opinion, little to no fact. Complete waste of time
It's been in every news bulletin today on Radio 4, and was on the Today programme this morning.
Hi Mike,
This is a UK government decision. The Renewable Energy Association – who are dead against it – think so anyway.
https://www.r-e-a.net/news/tax-rate-hike-for-domestic-solar-storage-and-biomass-boiler-markets-contested-by-industry
Who do you work for exactly? Nitrous oxide bouyant one month gravedigger the next. You need to change your handle, Bolgas, because you are a busted flush
Sorry, by which I meant this (sounds better in a German accent) – biggest laugh I've had all day:
Germany's fertility rate is 1.6 below the 2.1 replacement rate. Hence why they're allowing 1.5 Million people of a certain religious persuasion to flow into Germany to replace the German population. Same thing is happening here, we have a 1.8 fertility rate, when the replacement rate for a population is 2.1... hence why even though our government has full control over Non EU migration it's actually on the rise because they are doing almost nothing about it.
Instead of making house building a priority to drive down house prices or at least slow the growth till wages keep up with it, and making childcare free for working families to make having children cheaper... it's cheaper and quicker to import immigrants with a higher fertility rate. We are being replaced.
They do this with Dr's too, the NHS doesn't have enough Dr's as the government won't spend the money required to pay for their training. So they import foreign Dr's... foreign Dr's now make up one third of NHS Dr's... but are disproportionately responsible for just over half of all Medically fit to practice tribunals because the standards are not as good as British trained Dr's.
Very bright, very clever British students are now leaving the UK to study to become Dr's abroad if their family can afford it after being rejected for British medical school even though they have top class grades. Most of which won't come back here because they can earn far more abroad.
Honestly, this sounds much better in a German accent
Double Doh. I didn't spot your subject line. Will get coat and offer myself up to any Symbionese Liberationists in the area
It's the Stockholm Syndrome, isn't it? When you get kidnapped and start to sympathise with the kidnappers. Named after a case in Stockholm but most famously used in the case of Patty Hearst, daughter ot media magnate Randolph Hearst, whose sympathies for her kidnappers, the Symbionese LIberation Army, extended to going on bank raids with them. She later, after her rescue, used the Stockholm Syndrome defence
Not sure how it's totally misleading then, if what you say is right � Barclays are getting it for a song because Lloyds don't want the risk any more. It's actually what the RNS says too. Or maybe a conspiracy theory is too tempting even when there isn't one to be had?
Far from being milked by the UK Gov, this bank has been saved by it. This bank was one of those responsible for a global meltdown which its owners (the shareholders) didn't pay the full cost of � that was the UK taxpayer, who is now also stumping up for this fine. If the government sells its shares off at a profit, that's dandy. If they instead opt to take what money they can get and run, then the shareholders have done very well out of this (having something, no mattter how small, left rather than nothing) and the UK taxpayer has born the burden for them. Socialisation of risk, privatisation of reward. I'd keep those violins in their cases and thank the perverse gods of economics who we currently worship
Moat. Insurance business easy to get into. Any old web entrepreneur with a bit of advertising spend can do that. Big boats. Bit harder. Agree with you on the numbers entirely, but there is a business case here for growing what cannot be replicated online.