IQE Regulatory News (IQE)

15 Aug 2006 11:17

IQE PLC15 August 2006 IQE PLC 15 August 2006 IQE plc (the ''Company'' or "IQE") EGM STATEMENT The board of IQE is pleased to announce that all of the resolutions proposed andset out in the notice dated 20 July 2006 that were put to shareholders at theExtraordinary General Meeting held today were passed and accordingly: 1. the Directors have been granted authority under section 80 of the Companies Act 1985 (the ''Act'') to allot up to 87,500,000 new ordinary shares with an aggregate nominal value of £875,000 in connection with the placing (the "Placing"), representing approximately 27.6% of the total shares in issue as at 14 August 2006 and have been empowered pursuant to Section 95 of the Act to allot such shares as if Section 89(1) of the Act did not apply (such authority to expire on the earliest of the date of the next Annual General Meeting and 16 February 2008); 2. subject to and conditional upon completion of the Placing, the authorised share capital of the Company shall be increased to £6,500,000; 3. subject to and conditional upon completion of the Placing, the Directors shall be generally and unconditionally authorised pursuant to section 80 of the Act to exercise all the powers of the Company to allot, grant options over or otherwise deal with or dispose of any relevant securities within the meaning of that section up to an aggregate number of 3,447,608 ordinary shares in addition to the authority conferred on the Directors pursuant to the resolutions passed at the Annual General Meeting of the Company held on 31 May 2006. This authority shall expire at the conclusion of the next Annual General Meeting; and 4. subject to and conditional upon completion of the Placing, the Directors shall be generally empowered pursuant to Section 95 of the Act, to allot equity securities (within the meaning of Section 94(2) of the Act) pursuant to the authority conferred by resolution 3 above as if Section 89(1) of the Act did not apply to the allotment up to an aggregate number of 29,013,220 ordinary shares (where such allotment is for cash) unless such securities have been offered to the holders of ordinary shares in the capital of the Company in proportion (as nearly as may be) to their existing holdings of shares in which case the limit shall be that number of shares equal to the authority conferred by resolution 3 above. This authority is in addition to the authority conferred on the Directors pursuant to the resolutions passed at the Annual General Meeting of the Company held on 31 May 2006 and shall expire at the conclusion of the next Annual General Meeting. Contacts IQE plc +44(0) 29 2083 9400Dr Drew Nelson, President & CEOStuart Hall, CFOChris Meadows, Investor Relations Noble & Company Limited +44(0) 20 7763 2200John Llewellyn-LloydGraeme Bayley Buchanan Communications +44(0) 20 7466 5000Nicola CronkBen Romney This information is provided by RNS The company news service from the London Stock Exchange