IQE plc : Settlement of $1.415M license fee in ...

Cardiff, UK. 15 March 2016: IQE plc (AIM: IQE, "IQE" or the "Company"), the leading global supplier of advanced wafer products and wafer services to the semiconductor industry, confirms that it has issued 5,141,467 ordinary shares in IQE (the "Payment Shares") to Translucent Inc. ("Translucent").

The Payment Shares have been issued as consideration to satisfy the $1,415,000 license fee payable under the Option, Licence and Assignment Agreement dated 15 September 2015 with Silex Systems Limited's subsidiary Translucent, for the exclusive licence of Translucent's unique and innovative 'Rare Earth Oxide' (cREO(TM)) semiconductor technology, which was announced by the Company on 15 September 2015.

Translucent's cREO(TM) technology offers a unique approach to the manufacture of a wide range of innovative Compound Semonductor on Silicon products, including  gallium nitride (GaN) on silicon (Si) for the burgeoning Power switching and RF technologies markets.  It is protected by a wide ranging IP portfolio consisting of 74 granted patents, and 13 additional patent applications.

Application has been made to the London Stock Exchange for admission of 5,141,467 new ordinary shares in the Company of 1 pence each ("Ordinary Shares") to trading on AIM. It is expected that dealings in these new Ordinary Shares, which will rank pari passu in all respects with the existing Ordinary Shares, is expected to commence on 18 March 2016 ("Admission").

Following Admission, the total number of Ordinary Shares in issue will be 671,033,577. All of these Ordinary Shares carry voting rights of one vote per Ordinary Share. There are no Ordinary Shares held in treasury and so the total number of voting rights in the Company will be 671,033,577.

Contacts:

IQE plc ([phone])
Chris Meadows
Phil Rasmussen

Canaccord Genuity (+ 44 20 7523 8000)
Simon Bridges
Cameron Duncan

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: IQE plc via Globenewswire

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