12 February 2018
IQE plc
("IQE" or the "Company")
Statement from Cardiff Joint Venture Partner
Further to the announcements made on 5 February 2018 and 8 February 2018, IQE notes the following statement provided by its Cardiff joint venture ("CSC") partner:
"Cardiff University has invested equity of £21.8M in the Compound Semiconductor Centre. IQE contributed their share in hardware, infrastructure and licensing intellectual property, all independently valued. The University entered into the Joint Venture as a strategic investment to ensure our world leading research has a well-founded route to commercialisation. Several project wins have been announced within the last year. Co-owned and controlled by Cardiff University and IQE, CSC applies corporate standards of governance including an independent chair, regular joint board meetings, annual reports and published accounts. The University is represented on the CSC board by appropriately qualified directors."
Contacts:
| IQE plc Drew Nelson Phil Rasmussen Chris Meadows | +44 (0) 29 2083 9400 |
| Canaccord Genuity Simon Bridges Henry Fitzgerald-O'Connor Richard Andrews | + 44 (0) 20 7523 8000 |
| Peel Hunt Edward Knight Nick Prowting | +44 (0) 20 7418 8900 |
| FTI Consulting Matt Dixon Rob Mindell Harry Staight | +44 (0) 20 3727 1000 |