REG - IQE PLC - IQE plc: Director/PDMR Shareholding

IqeAnnouncement

29/07/2022 07:00

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RNS Number : 1532U  IQE PLC  29 July 2022

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 Company

GB0009619924
 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                 1)  11,000,000 ordinary shares at 43.96 pence per share

     ·      Aggregated price                  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
(https://www.globenewswire.com/Tracker?data=yZf7NKp1JKLALUCxlBuC8wkLnLAqoe5-kjjIlkMIDci9q9W0x_02bwZV-eorSbpLXZxy4zi3xHh-O4FM8nWjeg==)

 

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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