12 February 2018
IQE plc
("IQE" or the "Company")
Appointment of New Auditor
IQE (AIM:IQE) would like to notify investors that it will be updating its investor relations website shortly to reflect the appointment of KPMG LLP ("KPMG") as its new auditor, following a competitive review process in December 2017. KPMG will audit the Company's 2017 financial results, which are due to be published on 20 March 2018. KPMG replaces PricewaterhouseCoopers LLP ("PwC") who had acted as IQE's auditors since 2005.
As part of the handover process, PwC provided the Company with a written statement which confirmed there were no matters which needed to be brought to the attention of the Company's members, creditors or directors. This announcement is not required under the AIM Rules, but in the context of the two recent broadly similar and misleading reports published by funds with a short position in IQE, the Company wishes to go above and beyond the disclosure requirements as stated under the AIM Rules. The Company holds itself to the highest standards of transparency, governance and integrity.
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 |