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IQE plc

IQE plc: Long Term Incentive Plan (LTIP) Awards

(“IQE” or the “Company”)

20 February 2020

IQE plc announces that on 20 February 2020 the Board confirmed a recommendation of the Remuneration Committee made on 29 January 2020 to grant 2,727,216 nil-cost share options (“Awards”) over the Company’s ordinary shares of 1 pence each (“Ordinary Shares”) awarded under the Company’s Long Term Incentive Plan (“LTIP”) to certain directors of the Group detailed in the table below:

Name Role Number of Ordinary Shares subject to award under the LTIP
Dr Andrew Nelson Chief Executive Officer 1,629,969
Mr Tim Pullen Chief Financial Officer 1,097,247

Awards are granted under the LTIP previously approved by shareholders and described in the annual report on remuneration contained within the IQE Report and Accounts for the year ended 31 December 2018. The Awards are subject to performance criteria based on growth in Earnings Per Share (EPS) and Total Shareholder Return (TSR) also previously approved by shareholders. The Awards have a three year vesting period. 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 the Company’s obligations under the Disclosure Guidance and Transparency Rules.  

IQE plc
+44 (0) 29 2083 9400
Tim Pullen
Amy Barlow

Peel Hunt LLP (Nomad and Joint Broker)
+44 (0) 20 7418 8900
Edward Knight
Nick Prowting 
Christopher Golden 

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
Tom James: +44 (0)78 1859 4991

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  1,629,969

d) Aggregated information

  • Aggregated volume
  • Aggregated price
  • Aggregated total
 

N/A single transaction

e) Date of the transaction 20 February 2020
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 Finance 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  1,097,247

d) Aggregated information

  • Aggregated volume
  • Aggregated price
  • Aggregated total
 

N/A single transaction

e) Date of the transaction 20 February 2020
f) Place of the transaction Off market transaction