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
+44 (0) 29 2083 9400
Drew Nelson
Tim Pullen
Amy Barlow
Peel Hunt LLP (Nomad and Joint Broker)
+44 (0) 20 7418 8900
Edward Knight
Paul Gillam
Nick Prowting
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 | 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
| 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
| N/A single transaction |
| e) | Date of the transaction | 19 February 2021 |
| 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. 650 employees across nine manufacturing locations in the UK, US, Taiwan and Singapore, and is listed on the AIM Stock Exchange in London.
