IQE plc : Appointment of New Auditor

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	[phone]
Canaccord Genuity Simon Bridges Henry Fitzgerald-O'Connor Richard Andrews	+ 44 (0) 20 7523 8000
Peel Hunt Edward Knight Nick Prowting	[phone]
FTI Consulting Matt Dixon Rob Mindell Harry Staight	[phone]

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: IQE plc via Globenewswire