IQE plc
Cardiff, UK
1 March 2022
Long Term Incentive Plan (LTIP) Awards
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 today, following approval from IQE’s Board of Directors and a recommendation made by the Remuneration Committee, that certain of IQE’s directors have been granted awards over an aggregate 4,543,897 ordinary shares of 1 pence each in IQE (“Ordinary Shares”) in the form of nil cost share options (“Awards”) pursuant to IQE’s LTIP as follows:
| Name | Role | Number of Ordinary Shares subject to Award under the LTIP |
| Mr Americo Lemos | Chief Executive Officer | 3,065,591 |
| Mr Tim Pullen | Chief Financial Officer | 1,478,306 |
Awards are granted under the LTIP previously approved by shareholders. The Awards are subject to performance criteria based on growth in Earnings Per Share (EPS), Total Shareholder Return (TSR), Revenue and the achievement of Strategic Objectives. Vesting of the Awards, in whole or part, is subject to the achievement of the performance criteria over the three-year performance period to 31 December 2024. No consideration is payable for the grant or exercise of the Awards and the exercise of the whole or part of the number of Awards is conditional upon meeting the performance criteria.
Contacts:
IQE plc
+44 (0) 29 2083 9400
Americo Lemos
Tim Pullen
Amy Barlow
Peel Hunt LLP (Nomad and Joint Broker)
+44 (0) 20 7418 8900
Edward Knight
Paul Gillam
James Smith
Citigroup Global Markets Limited (Joint Broker)
+44 (0) 20 7986 4000
Christopher Wren
Peter Catterall
Headland Consultancy (Financial PR)
+ 44 (0) 20 38054822
Andy Rivett-Carnac: +44 (0) 7968 997 365
Chloe Francklin: +44 (0)78 3497 4624
The notification set out below is provided in accordance with the requirements of the EU Market Abuse Regulation (MAR).
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
| 1. | Details of the Person discharging managerial responsibilities ("PDMR") / person closely associated with them ("PCA") | |
| a) | Name | Mr Americo Lemos |
| 2. | Reason for the notification | |
| a) | Position / status | PDMR (Chief Executive 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 | Award of Long Term Incentive Plan (“LTIP”) options over ordinary shares of 1 pence each in the Company ("Awards") GB0009619924 |
| b) | Nature of the transaction | Granting of LTIP Awards |
| c) | Price(s) and volume(s) | Price(s) Volume(s) Nil pence 3,065,591 |
| d) | Aggregated information
| N/A single transaction |
| e) | Date of the transaction | 25 February 2022 |
| f) | Place of the transaction | Off market transaction |
| 1. | Details of the Person discharging managerial responsibilities ("PDMR") / person closely associated with them ("PCA") | |
| a) | Name | Mr Tim Pullen |
| 2. | Reason for the notification | |
| a) | Position / status | PDMR (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 | Award of Long Term Incentive Plan (“LTIP”) options over ordinary shares of 1 pence each in the Company ("Awards") GB0009619924 |
| b) | Nature of the transaction | Granting of LTIP Awards, and; Acceleration of vesting of LTIP Awards |
| c) | Price(s) and volume(s) | Price(s) Volume(s) Nil pence 1,478,306 |
| d) | Aggregated information
| N/A single transaction |
| e) | Date of the transaction | 25 February 2022 |
| f) | Place of the transaction | Off market transaction |
ABOUT IQE
IQE is the leading global supplier of advanced compound semiconductor wafers and materials solutions that enable a diverse range of applications across:
- handset devices
- global telecoms infrastructure
- connected devices
- 3D sensing
As a scaled global epitaxy wafer manufacturer, IQE is uniquely positioned in this market which has high barriers to entry. IQE supplies the whole market and is agnostic to the winners and losers 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 c. 685 employees across nine manufacturing locations in the UK, US, Taiwan and Singapore, and is listed on the AIM Stock Exchange in London.
