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29 Jul 2022 07:00
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 CompanyGB0009619924 |
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 · Aggregated price |
1) 11,000,000 ordinary shares at 43.96 pence per share 2) 1,121,711 Ordinary Shares at nil consideration |
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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