Completion of Placing

RNS Number : 0704X

IQE PLC

08 February 2012

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, NEW ZEALAND, JAPAN, THE REPUBLIC OF IRELAND OR SOUTH AFRICA, OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL

IQE plc

Completion of Placing to raise £10.5 million

Cardiff, UK, 8 February 2012: IQE plc (AIM:IQE, "IQE" or the "Group"), a leading global supplier of advanced semiconductor wafer products and services to the semiconductor industry, has successfully placed 43,750,000 new ordinary shares of 1 pence each ("Placing Shares") at a price of 24 pence per Placing Share (the "Placing Price") raising gross proceeds of £10.5 million.

Further details of the Placing and the Group's strategic investment in Solar Junction Corporation are set out in the announcement released earlier today.

Application has been made for the Placing Shares to be admitted to trading on AIM and it is expected that admission will take place at 8.00 a.m. on 13 February 2012. 

Drew Nelson, Chief Executive of IQE commented:

"We are delighted that both existing and new institutional shareholders have supported the fund raising which will allow us to significantly accelerate our well established CPV strategy.

"Our investment in Solar Junction, with its world beating CPV cell technology, is an outstanding opportunity for us to become a key supplier of epi wafer and materials to the CPV market.  The   investment also brings us access to Solar Junction's well-funded R&D."

Enquiries:

IQE plc	[phone]
Drew Nelson
Phil Rasmussen
Chris Meadows
Espirito Santo Investment Bank	+ 44 (0) 20 7456 9191
Richard Crawley/James Bromhead/Alastair Maclachlan
Canaccord Genuity	+ 44 (0) 20 7050 6500
Simon Bridges/Cameron Duncan
College Hill	[phone]
Adrian Duffield/ Kay Larsen

This Announcement has been issued by, and is the sole responsibility of, the Company.

Execution Noble & Company Limited which is authorised and regulated in the United Kingdom by the Financial Services Authority (the "FSA"), is acting as Nominated Adviser and broker to the Company for the purposes of the AIM Rules for Companies and the AIM Rules for Nominated Advisers in connection with the Placing and Admission and is not acting for, and will not be responsible to, any person other than the Company for providing the protections afforded to customers of Execution Noble & Company Limited or for advising any other person on any transaction or arrangement referred to in this announcement. Execution Noble Limited, which is authorised and regulated in the United Kingdom by the FSA, is acting exclusively as financial adviser to and broker to IQE plc and for no one else in connection with the Placing and is not advising any other person or treating any other person as its customer in relation to or in connection with the Placing and is not advising any other person or treating any other person as its customer in relation to the matters referred to in this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Execution Noble Limited or for providing advice in relation to the Placing or any matter referred to in this announcement. Together Execution Noble & Company Limited and Execution Noble Limited carry out their UK investment banking business as Espirito Santo Investment Bank ("BESI").

Canaccord Genuity Limited ("Canaccord"), which is authorised and regulated in the United Kingdom by the FSA, is acting exclusively as financial adviser to and broker to IQE plc and for no one else in connection with the Placing and is not advising any other person or treating any other person as its customer in relation to or in connection with the Placing and is not advising any other person or treating any other person as its customer in relation to the matters referred to in this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Canaccord or for providing advice in relation to the Placing or any matter referred to in this announcement.

The distribution of this announcement and/or issue of Placing Shares pursuant to the Placing or otherwise in certain jurisdictions outside the United Kingdom may be restricted by law. Persons who seek to participate in the Placing must inform themselves about and observe any such restrictions. In particular, this announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy or subscribe for Placing Shares in the United States, Canada, Australia, Japan, South Africa, New Zealand or the Republic of Ireland or any other jurisdiction in which such offer or solicitation, publication or distribution is or would be unlawful.

 

END

 

 

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