IQE plc: Long Term Incentive Plan (LTIP) Awards

IQE plc

Cardiff, UK

19 February 2021

Long Term Incentive Plan (LTIP) Awards

IQE plc (AIM:  IQE, "IQE" or the "Group"), the leading global supplier of advanced semiconductor wafer products and material solutions to the 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 1,872,174 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
Dr Andrew Nelson	Chief Executive Officer	1,118,938
Mr Tim Pullen	Chief Financial Officer	753,236

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) and Total Shareholder Return (TSR). Vesting of the Awards, in whole or part, is subject to the achievement of the performance criteria over the holding period to the later of 31 March 2024 and following release of IQE’s results for the financial period 1 January 2023 to 31 December 2023. 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.

The notification of the Awards is intended to satisfy IQE’s obligations under the Disclosure Guidance and Transparency Rules. 

Contacts:

IQE plc
[phone]
Drew Nelson
Tim Pullen
Amy Barlow
           
Peel Hunt LLP (Nomad and Joint Broker)
[phone]
Edward Knight
Paul Gillam
Nick Prowting
           
Citigroup Global Markets Limited (Joint Broker)
[phone]
Christopher Wren
Peter Catterall

Headland Consultancy (Financial PR)
+ 44 (0) 20 38054822
Andy Rivett-Carnac: [phone]
Chloe Francklin: [phone]

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	Dr Andrew Nelson
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  1,118,938
d)	Aggregated information Aggregated volume Aggregated price Aggregated total	N/A single transaction
e)	Date of the transaction	19 February 2021
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  753,236
d)	Aggregated information Aggregated volume Aggregated price Aggregated total	N/A single transaction
e)	Date of the transaction	19 February 2021
f)	Place of the transaction	Off market transaction

ABOUT IQE

http://iqep.com

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. 650 employees across nine manufacturing locations in the UK, US, Taiwan and Singapore, and is listed on the AIM Stock Exchange in London.