IQE plc
Completion of Placing to raise £16.5 million
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IQE plc
Completion of Placing to raise £16.5 million
Cardiff, UK, 10 January 2013: IQE plc (AIM:IQE, "IQE", the "Company" or the
"Group"), the leading global supplier of advanced semiconductor wafer products
and services to the semiconductor industry, has successfully placed 56,900,961
new ordinary shares of 1p each ("Placing Shares") at a price of 29 pence per
Placing Share raising gross proceeds of £16.5 million.
Further details of the Placing and the Group´s acquisition of Kopin Wireless are
set out in the announcement released earlier today.
Application has been made for the Placing Shares to be admitted to trading on
AIM and it is expected that admission will take place at 8.00 a.m. on 15 January
2013 ("Admission").
The total number of ordinary shares of 1p each ("Ordinary Shares") in issue
following the issue of the Placing Shares is 645,116,712, each of which carry
voting rights of one vote per Ordinary Share. The Company does not hold any
Ordinary Shares in treasury and so the total number of voting rights in the
Company is currently 645,116,712.
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Following Admission, the above figure of 645,116,712 Ordinary Shares may be used
by shareholders as the denominator for the calculations by which they will
determine if they are required to notify an interest in, or change to an
interest in, the share capital of the Company under the Financial Services
Authority´s Disclosure and Transparency Rules.
Drew Nelson, Chief Executive of IQE said:
"We are delighted that both existing and new institutional shareholders have
strongly supported the fundraising and the acquisition of Kopin Wireless.
"This transaction will be a key driver of significant earnings and cash
generation. It also brings substantial financial and scale benefits and
underpins our leading position in the supply of wafers to the global wireless
industry."
Enquiries:
Contacts:
IQE plc
+44 (0) 29 2083 9400
Drew Nelson
Phil Rasmussen
Chris Meadows
Espirito Santo Investment Bank + 44 (0)
20 7456 9191
Richard Crawley/James Staveley/Alastair Maclachlan
Canaccord Genuity
+ 44 (0) 20 7523 8000
Simon Bridges/Cameron Duncan
College Hill
+44 (0) 20 7457 2020
Adrian Duffield/Kay Larsen
This Announcement has been issued by, and is the sole responsibility of, the