IQE plc
Cardiff, UK
12 December 2023
Long Term Incentive Plan (LTIP) Award
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, announces that on 11 December 2023 IQE's Board of Directors approved a recommendation made by the Remuneration Committee, to grant IQE's Interim Chief Financial Officer, Neil Rummings, an award of 355,451 share options over ordinary shares of 1 pence each in the Company ("Award") at nil cost, pursuant to IQE's Long Term Incentive Plan. The award will vest in one tranche on 31 May 2025 subject only to continued employment.
This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018).
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
| 1. | Details of the Person discharging managerial responsibilities ("PDMR") / person closely associated with them ("PCA") | |||||
| a) | Name | Neil Rummings | ||||
| 2. | Reason for the notification | |||||
| a) | Position / status | Interim Chief Financial Officer | ||||
| b) | Initial notification / amendment | Initial notification
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| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | IQE plc
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| b) | Legal Entity Identifier | 213800Y33WHD3ESJJP16
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| 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
| ||||
| b) | Nature of the transaction | Award of options
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| c) | Price(s) and volume(s) |
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| d) | Aggregated information · Aggregated volume · Aggregated price |
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| e) | Date of the transaction(s) | 11/12/23 | ||||
| f) | Place of the transaction | Off-market
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Contacts:
IQE plc
+44 (0) 29 2083 9400
Americo Lemos
Neil Rummings
Amy Barlow
Peel Hunt (Nomad and Joint Broker)
+44 (0) 20 7418 8900
Paul Gillam
Richard Chambers
Kate Bannatyne
Numis (Joint Broker)
+44 (0) 20 7260 1000
Simon Willis
Hugo Rubinstein
Iqra Amin
Headland Consultancy (Financial PR)
+ 44 (0) 20 38054822
Andy Rivett-Carnac: +44 (0) 7968 997 365
Chloe Francklin: +44 (0)78 3497 4624
ABOUT IQE
IQE is the leading global supplier of advanced compound semiconductor wafers and materials solutions that enable a diverse range of applications across:
· Smart Connected Devices
· Communications Infrastructure
· Automotive and Industrial
· Aerospace and Security
As a scaled global epitaxy wafer manufacturer, IQE is uniquely positioned in this market which has high barriers to entry. IQE supplies the global market and is enabling customers to innovate 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 employees across eight manufacturing locations in the UK, US and Taiwan, and is listed on the AIM Stock Exchange in London.
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