IQE PLC
31 October 2002
31 October 2002
IQE plc ('IQE' / the 'Company')
INTENTION TO DE-LIST FROM NASDAQ EUROPE
Cardiff, UK, 31 October 2002 - IQE, the leading global outsource supplier of
customised epitaxial wafers to the semiconductor industry, today announces that
it has requested that the Market Authority of Nasdaq Europe approve the
de-listing of its shares from Nasdaq Europe.
The Board has decided to withdraw its admission to listing on Nasdaq Europe and
such request was approved by the Nasdaq Europe Market Authority on 29 October
2002, subject to certain conditions being fulfilled, and de-listing is expected
to take place on 30 November 2002.
The principal reason for the de-listing from Nasdaq Europe is that the majority
of the dealing in the Company's shares is concentrated on the London Stock
Exchange's TechMARK index and not on Nasdaq Europe. In addition, the Board
believes that trading on a single market will present a clearer investment
opportunity to potential investors.
When trading on Nasdaq Europe is terminated, any shareholder wishing to sell
their shares in the Company via the market will have to do so through the London
Stock Exchange and settle trades either electronically through the CREST
settlement system or through the residual system involving share certificates
and share transfer forms.
The Nasdaq Europe Market Authority's approval of the de-listing of the Company's
shares from Nasdaq Europe is conditional, inter alia, on the Company's
compliance with the Continuing Requirements imposed on Nasdaq Europe Listed
Issuers until the de-listing takes effect. All price sensitive information in
respect of the Company will be made available to investors through the Company
Announcements Office and Regulatory News Service of the London Stock Exchange.
For further information, please contact:
IQE Tel: +44 (0)29 2083 9400
Leslie Coventry/Chris Meadows
Evolution Beeson Gregory Tel: +44 (0)20 7488 4040
Tim Worlledge/Matthew Wood
Buchanan Communications Tel: +44 (0)20 7466 5000
Tim Thompson/Nicola Cronk
This information is provided by RNS
The company news service from the London Stock Exchange
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