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
| 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
| N/A single transaction |
| e) | Date of the transaction | 20 February 2020 |
| f) | Place of the transaction | Off market transaction |