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Friday, 28 July 2017

IQE plc : Director/PDMR Shareholding

IQE plc    

Published: 15:26 CEST 28-07-2017 /GlobeNewswire /Source: IQE plc / : IQE /ISIN: GB0009619924

IQE plc : Director/PDMR Shareholding

28 July 2017

IQE plc ("IQE" or the "Company")
Director/PDMR Shareholding

IQE plc (AIM: IQE) was notified on 25 July 2017 and 27 July 2017 that Dr Andrew Nelson, CEO of the Company, sold a total of 5,800,000 ordinary shares of 1 pence each in the Company ("Ordinary Shares"), with the two sales executed at a gross average price of 106.04 pence per Ordinary Share. The Company was also notified on 25 July 2017 that Dr Godfrey Ainsworth, Chairman of the Company, sold 1,000,000 Ordinary Shares, with the sale executed at a gross average price of 105.14 pence per Ordinary Share (together, the "Transactions"). The Transactions were completed on 25 July 2017 and 27 July 2017.

Dr Ainsworth accumulated his shareholding exclusively through share purchases during the period since the Company's IPO in 1999. Dr Nelson accumulated his shareholding through a combination of founder shares, share purchases and LTIP awards since the start of the company in 1988. These Transactions are for future retirement planning purposes, and in the case of Dr Nelson, the sale of shares was made to secure the required funds to repay an existing loan which was used to purchase shares in the Company. This loan was previously announced on 14 October 2014 and the loan is due to repayment on 10 October 2017. It is Dr Nelson's intention that he will repay the existing loan ahead of the repayment date and a further announcement will be made in due course upon repayment of this loan. Dr Nelson and Dr Ainsworth remain fully committed to the Company and have no plans to sell any further shares at this time.

Post the Transactions, Dr Nelson's total holding comprises of 29,459,218 Ordinary Shares (which includes 18 million shares that are subject to an obligation to repurchase as part of a loan agreement announced on 13th November 2014), representing 4.31% of the Company's issued share capital, and 3,145,433 unexercised fully vested options over Ordinary Shares. Dr Ainsworth's total remaining holding comprises of 2,154,197 Ordinary Shares, representing 0.32% of the Company's issued share capital. In addition, Dr Nelson has 7,532,962 share options, which vest in January 2019 subject to performance criteria.

The notification set out below is provided in accordance with the requirements of the EU Market Abuse Regulation.

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 (CEO)

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

Ordinary shares of 1 pence each in the Company

GB0009619924

b)

Nature of the transaction

Sale of Ordinary Shares

c)

Price(s) and volume(s)


Price(s)            Volume(s)

105.14 pence   5,000,000 Ordinary Shares

111.66 pence   800,000 Ordinary Shares

d)

Aggregated information

  • Aggregated volume
  • Aggregated price
  • Aggregated total

 

5,800,000 Ordinary Shares

106.04 pence per Ordinary Share

Total consideration of £6,150,345.40

e)

Date of the transaction(s)

25 July 2017 and 27 July 2017

f)

Place of the transaction

London Stock Exchange, AIM

 

1.

Details of the Person discharging managerial responsibilities ("PDMR") / person closely associated with them ("PCA")

a)

Name

Dr Godfrey Ainsworth

2.

Reason for the notification

a)

Position / status

PDMR (Chairman)

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

Ordinary shares of 1 pence each in the Company

GB0009619924

b)

Nature of the transaction

Sale of Ordinary Shares

c)

Price(s) and volume(s)

 

Price(s)            Volume(s)

105.14 pence  1,000,000 Ordinary Shares

d)

Aggregated information

  • Aggregated volume
  • Aggregated price
  • Aggregated total

 

1,000,000 Ordinary Shares

105.14 pence per Ordinary Share

Total consideration of £1,051,411.00

e)

Date of the transaction

25 July 2017

f)

Place of the transaction

London Stock Exchange, AIM

 

 Contacts:

 

IQE plc

Drew Nelson 

Phil Rasmussen

Chris Meadows

 

+44 (0) 29 2083 9400

Canaccord Genuity

Simon Bridges

Henry Fitzgerald-O'Connor

Richard Andrews

 

+ 44 (0) 20 7523 8000

Peel Hunt

Euan Brown

+44 (0) 20 7418 8900

 


 





This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: IQE plc, Pascal Close
Pascal Close, St Mellons, , Cardiff, CF3 0LW, , United Kingdom
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