IQE PLC IQE plc: Long Term Incentive Plan (LTIP) Award (5274W)

TIDMIQE

RNS Number : 5274W

IQE PLC

12 December 2023

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 
    ---------------------------------------------  ----------------------------------------------------- 
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                      Award of options 
    ---------------------------------------------  ----------------------------------------------------- 
c)  Price(s) and volume(s)                          Price    Volume 
                                                     Nil      355,451 
                                                             -------- 
    ---------------------------------------------  ----------------------------------------------------- 
d)        Aggregated information 
            *    Aggregated volume 
                                                     Price    Volume 
                                                     Nil      355,451 
            *    Aggregated price                            -------- 
    ---------------------------------------------  ----------------------------------------------------- 
e)  Date of the transaction(s)                     11/12/23 
    ---------------------------------------------  ----------------------------------------------------- 
f)  Place of the transaction                       Off-market 
    ---------------------------------------------  ----------------------------------------------------- 
 

Contacts:

IQE plc

[phone]

Americo Lemos

Neil Rummings

Amy Barlow

Peel Hunt (Nomad and Joint Broker)

[phone]

Paul Gillam

Richard Chambers

Kate Bannatyne

Numis (Joint Broker)

[phone]

Simon Willis

Hugo Rubinstein

Iqra Amin

Headland Consultancy (Financial PR)

+ 44 (0) 20 38054822

Andy Rivett-Carnac: [phone]

Chloe Francklin: [phone]

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:

   --    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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December 12, 2023 11:00 ET (16:00 GMT)