Iqe Share Discussion Threads

[bukko] 13/6/2019 23:12

Kazoom

"faith" isn't the word for it!

[kazoom] 13/6/2019 21:27

REG - I find your lack of faith disturbing

[regasclockwork] 13/6/2019 20:12

lpavlou13 Jun '19 - 19:11 - 26559 of 26560

"I don’t think they will stop here either as it wouldn’t be worth their while investing such a small sum." -End-

What small sum? Surely we don't know when any of these 23.2m shares were acquired? Could have been bought over a period of years or in ONE LUMP very recently?

Sorry 'pav', I'm not being awkward, just want to know the facts.

[regasclockwork] 13/6/2019 20:04

thecrunk13 Jun '19 - 18:00 - 26558 of 26559

"They wont stop at 3%" -End-

You've 'presumably' [not obviously] got some inside information crunk - could you share it please? Many thanks in advance.

[lpavlou] 13/6/2019 19:11

Surely there is an error in the March 19 date. This can't be the date they went above 3percent as you can't wait 3 months to inform the company. This might be when they first acquired, not the date they went above the thread hold. I reckon they have been sitting below disclosure levels and decided to lift their heads above the parapet on the recent pullback. I don't think they will stop here either as it wouldn't be worth their while investing such a small sum. Volumes have been low for a while whilst we all wait for the AGM.

[thecrunk] 13/6/2019 18:00

They wont stop at 3%

[lord loads of lolly] 13/6/2019 16:14

One final observation - IQE's opening share price on KIA acquisition date (27 Mar 19) was 66.60p. It closed that day at 66.80p, with an intraday high of 68.85p and a low of 65.05p. So - in the short term at least - it appears they timed their entry quite well.

[lord loads of lolly] 13/6/2019 15:59

If you Google Kuwait Investment Authority, the (currently) 3rd result makes for an interesting read from the FT, dated 10 Sept 2018. I would add a link, but it doesn't work being a subscription-based model. However, the Google link provides full access. The highlight for me is: 'Investors like Larry Fink, chief executive of BlackRock and Hutham Olayan of Saudi Arabia’s private sector Olayan group, say the Kuwaiti fund is one of the world’s best managed with a clear investment process. KIA officials say they are committed to taking a long-term view and to avoiding what is trendy.'

[lord loads of lolly] 13/6/2019 15:47

The Kuwait Investment Authority styles itself as a 'stable and responsible shareholder and owner'. Guess time will tell....

[owenga] 13/6/2019 15:17

And even stranger that if they had actually used the correct number of shares in issue as per end of June per the rns, they actually hold just under 3%!

[blueflame] 13/6/2019 14:19

So we have a new disclosed shareholder in the name of the not too shabby Kuwait Investment Authority with a holding of 23m shares. Very strange though that they have only just notified that they crossed the threshold in March. Lets hope they dont lend them out lol.

[tonysss13] 13/6/2019 14:15

kuwait investment authority take 3% of IQE

[regasclockwork] 13/6/2019 08:42

Hi 'nit', Ref my post on directors bonuses. I'm merely pointing out the great incentive that they have to drive the company forward. If there was no carrot being dangled in front of them, I'd be worried.

Quoinit - 12 Jun 2019 - 06:53:42 - 26537 of 26549

"My guess and it's only that only that , is a move to full listmg, consolidation of shares 2:1 and a fund raise from another placement could be on the cards" -End-

Ninety percent of your posts seem to be 'pure guesswork' as per the example above for which you got 4-thumbs down. Any danger of you explaining why there could be a consolidation of shares 2:1? That's the first time I've seen that suggested on here. Looking forward to your reply.

[quoinit] 12/6/2019 21:19

Regas - you don’t half go on and on. These are nothing compared to PhillipGreene’s 1.3bn self awarded bonus raided from BHS and Arcadia pension funds. Are you none other than the odious Winningstreak from the old ii bulletin board by any chance?

[wattene] 12/6/2019 20:17

Good post S, and thanks for the links. Hope you get the grades you expect for your history degree.

[dexter5] 12/6/2019 19:34

Well spotted Sweeny I also had almost given up on the Solar Junction investment
There was the random mention by D Nelson of the excellent margins on the space solar panels but not much detail. It would be interesting to know if IQE still hold 15% of the Solar Junction company or if that has been lost.
Perhaps a question for the AGM

[coolhandfluke] 12/6/2019 19:21

My teacher always said that I would go down in history. He was surprised however that I also went down in English, maths and geography.

[sweenoid] 12/6/2019 18:28

I have almost given up on solar, it’s always waiting to go, but perhaps as in other technology areas (GAN, VCSELS, 5 G filters) it’s just a technology in waiting.

As a student of history ;-) ( exam today, fair, went well) I have been watching Solar Junction for years and years. If you remember IQE made a BIG financial investment in SJ many years ago , mainly aimed at satellite technology , water desalination and solar power in Saudi Arabia, along the lines that Solar Junction would be compelled to use IQE wafers if they did any business. Things went quiet, then Solar Junction were bought out by Saudi Arabia’s Taqnia and everything went even quieter. Last I checked was about a year ago ( I gave up) they had no vacancies no news and no one was at their facility in California, oh well bust , investment gone?

I have just done some research and find that Solar Junction is indeed alive and kicking, same CEO and Chairman but now based in Arizona and the board consists of the CEO and 2 very heavy hitting US Venture Capitalist companies,so it appears Saudis has sold SJ in a management buyout? Funded by Forest Baskett ( personal wealth as of last week about $238million and held in his Baskett McKay family trust ) and McKesson ventures.



Mmmmmm, I wonder whether that contract is still ‘alive’ , certainly SJ were doing some great things which I ‘linked’ in the past , but there is no news section on their new site, all very secretive but given the callibre of the backers perhaps things may just turn out right.

EDIT I have just found a link to a YouTube videofeaturing Ali Torabi who I guess is the son of the CEO in the new HIGH VOLUME MANUFACTURING FACILITY IN TEMPE ARIZONA - yum yum for link do a search on YouTube for Solar Junction SRP energy efficiency champion - very impressive and encouraging

My main reason for saying so is that before going ‘dark’ Solar Junction announced a big tie in with this highly impressive unit

, speaks for itself

Have a look, all of a sudden I am enthused about solar again :-)

S

[regasclockwork] 12/6/2019 18:11

The main IQE directors have some incentive to drive IQE forward that I was unaware of until now. I Obviously knew that apart from decent basic salaries, the 'committee' awards them generous share options. But, I didn't know that if 'financial objectives' are met, a bonus equal to the salaries is/was awarded. For example, for year 2017, Drew Nelson was awarded a bonus of £515,000 and Howard Williams a bonus of £345,000.

As 'financial objectives' were not met in 2018, 'modest' discretion was exercised, so in fairness to shareholders, bonuses of just 20% of salary was awarded to Drew Nelson, £105,000 bonus and to Howard Williams, a mere £70,000.

I thought it was jolly decent of them to think about us in our hour of need. Read on:

Incentive outcomes for years ending 31 December 2017 and 31 December 2018 (unaudited)
Annual Bonus
In 2017 financial objectives were met in full such that the maximum bonus of 100% of salary was awarded to each of
the Executive Directors.
Financial objectives (EBITDA and cashflow measures) were not met in 2018, however the Committee exercised
modest discretion to ensure fairness for shareholders and participants and to avoid unintended outcomes. As such,
20% of salary was awarded to Drew Nelson and Howard Williams for strong cash management and achievement of
personal objectives. This reflects the tight control of cash flow during the year despite difficult trading conditions and
significant capital expenditure (increasing headroom significantly with the agreement of $35m RCF facility with HSBC).
It also reflects strong performance on the development of IQE’s new foundry in Newport South Wales, which has
progressed from an empty building to production within 15 months. Further, it has been made in recognition of the
substantial strategic progress made by the Group in a significantly challenging year following the death of CFO, Phillip
Rasmussen. Godfrey Ainsworth, who took on the CFO role at short notice, was excluded from the long-term incentive
but given a bonus opportunity structured largely around specific individual objectives: providing support to the Board
and the wider leadership team at a very difficult time, contributing to an important recruitment process for a new
CFO, assistance to the CEO in investor relations activities and acting as interim CFO pending the appointment of Mr
Pullen, which he achieved. As a result, he earned a bonus of 90% of salary. -End-

Hopefully, it won't be too long before we're also 'in the money'. GLA!

[1mthead] 12/6/2019 17:12

From the annual report:

"...EMERGING TECHNOLOGIES
Solar
...Product qualifications are underway with leading satellite manufacturers,
paving the way for commercial revenues, and we will highlight these new technologies as they reach commercial adoption...."

Starlink and Amazon are both planning multiple 1000s satellite constellations for communication. Starlink have already started launching.

[jamesrowe] 12/6/2019 16:25

Well spotted Dave. I wonder what percentage of the $150-300m the wafer will represent?

[sweenoid] 12/6/2019 15:38

This paragraph is perhaps the most important

Vertical GaN Power Technology will deliver emerging opportunities across a broad applications space, currently growing at >50% CAGR [compound annual growth rate] and forecast to be worth >$150-300m by 2023,” says CSC’s GaN programme manager Robert Harper. “This activity will build on UK strengths in compound semiconductor materials and device technology to energize a new supply chain in automotive power component supply,” he adds.

S

[dr_smith] 12/6/2019 08:07

Duality of supply policy, Apples default position, is of course because such sh*t is predictable, just a question of whether alternate supplier(s) can step up to the plate for not only the volume, but within the required time frame.

Whilst non china supplers may side-step trumped up taxes, the price (and/or exchange rate) may be less favourable.
If they were cheaper, they would have been using the alternate(s) more in the first place.

IMO.
Dave