IQE PLC Iqe Plc: Issue Of Equity

 
TIDMIQE 
 
 
   Payment of $5M IP purchase fee through issue of IQE shares to 
Translucent, Inc. in relation to acquisition of cREO(TM) technology 
 
   Cardiff, UK. 25 September 2018: IQE plc (AIM: IQE, "IQE" or the 
"Company"), the leading global supplier of advanced wafer products and 
wafer services to the semiconductor industry, confirms that it will 
issue 4,262,256 new ordinary shares of 1 pence each in IQE (the "Payment 
Shares") to Translucent Inc. ("Translucent"). 
 
   The Payment Shares have been issued as consideration to satisfy the 
$5,000,000 fee payable for the purchase of Translucent's unique and 
innovative 'Rare Earth Oxide' (cREO(TM)) semiconductor technology. 
 
   IQE initially announced on 15 September 2015 that it had signed the 
Option, Licence and Assignment Agreement dated 15 September 2015 with 
Silex Systems Limited and its subsidiary, Translucent ("the Agreement"), 
which provided IQE with an exclusive 30-month licence for the 
commercialisation of the Translucent cREO(TM) technology and an 
exclusive option (exercisable solely at IQE's discretion) for the 
acquisition of the technology.  On 16 March 2018, the company announced 
that it had exercised its exclusive option to acquire and own the 
cREO(TM) technology and had six months following the exercise of the 
option to pay the $5,000,000 consideration. 
 
   The cREO(TM) technology offers a unique approach to the manufacture of a 
wide range of innovative Compound Semiconductor on Silicon products, 
including gallium nitride (GaN) on silicon (Si) for the burgeoning Power 
switching and RF technologies markets. 
 
   Application has been made to the London Stock Exchange for admission of 
4,262,256 new ordinary shares in the Company of 1 pence each ("Ordinary 
Shares") to trading on AIM. It is expected that dealings in these new 
Ordinary Shares, which will rank pari passu in all respects with the 
existing Ordinary Shares, is expected to commence on 28 September 2018 
("Admission"). 
 
   Following Admission, the total number of Ordinary Shares in issue will 
be 765,351,668. All of these Ordinary Shares carry voting rights of one 
vote per Ordinary Share. There are no Ordinary Shares held in treasury 
and so the total number of voting rights in the Company will be 
765,351,668. 
 
   Contacts: 
 
   IQE plc ([phone]) 
 
   Chris Meadows 
 
   Godfrey Ainsworth 
 
   Drew Nelson 
 
   Canaccord Genuity (+ 44 20 7523 8000) 
 
   Simon Bridges 
 
   Richard Andrews 
 
   Peel Hunt ([phone]) 
 
   Edward Knight 
 
   Nick Prowting 
 
 
 
 

(END) Dow Jones Newswires

September 25, 2018 05:00 ET (09:00 GMT)

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