IQE plc: Completion of Fundraising

IQE PLC

28 May 2026

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BREACH ANY APPLICABLE LAW OR REGULATION.

IQE plc

Cardiff, UK

28 May 2026

Completion of Fundraising

IQE plc (AIM: IQE, "IQE", the "Company" and, together with its subsidiary companies, the "Group"), a leading global supplier of compound semiconductor wafer products and advanced material solutions, is pleased to announce the completion of the Fundraising and that IQE has raised aggregate subscription proceeds of £81 million.

All conditions to the Fundraising have been satisfied or waived. Additional details on the terms of the Fundraising can be found in the Company's news release on 27 April 2026 and in the circular sent to the Company's shareholders and published on 29 April 2026 ("Circular").

The Company is in the process of appointing Robert Dennehy, MACOM Chief Operating Officer, and David O'Carroll, MACOM Vice President, as Non-executive Directors of the Board, subject to, among other things, completion of customary Nomad due diligence. Pending completion of that process and the appointment of the Non-executive Directors, the Company has entered into a side letter with the Investor pursuant to which the Investor will have limited consent rights.

Admission and Total Voting Rights

Admission of the 332,183,678 Fundraising Shares is currently expected to take place at or around Monday 1 June 2026 ("Admission").

Following Admission, the Company's issued share capital will consist of 1,312,590,972 ordinary shares of 1 pence each ("Ordinary Shares"). The Company holds 4,115 Ordinary Shares in treasury. Therefore, the total number of Ordinary Shares with voting rights in the Company is 1,312,586,857.

Shareholders may use this figure (1,312,586,857) as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Capitalised terms used but not defined in this announcement have the same meaning given to them in the announcement released by the Company on 27 April 2026.

Contacts:

IQE plc

[phone]

Jutta Meier

Mark Cubitt

Amy Barlow

Peel Hunt (Sole Bookrunner, Nomad and Joint Broker)

[phone]

Ben Cryer

Kate Bannatyne

Adam Telling

ECM Syndicate: Sohail Akbar, Nicolas Wilks

Headland Consultancy (Financial PR)
[phone]

Andy Rivett-Carnac: [phone]

Chloe Francklin: [phone]

ABOUT IQE

http://iqep.com

IQE is one of the leading global suppliers of advanced compound semiconductor wafers and materials solutions that enable a diverse range of applications across:

·    Smart Connected Devices

·    Communications Infrastructure

·    Automotive and Industrial

·    Aerospace and Security

As a scaled global epitaxy wafer manufacturer, IQE is uniquely positioned. IQE supplies the global market and is enabling customers to innovate at chip and OEM level. Through the Group's intellectual property portfolio including know-how and patents, it produces epitaxy wafers of superior quality, yield and unit economics.

IQE is headquartered in Cardiff UK, with employees across manufacturing locations in the UK, US and Taiwan, and is quoted on the AIM Market of the London Stock Exchange.

IMPORTANT NOTICES

Peel Hunt LLP ("Peel Hunt"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for IQE as sole bookrunner, Nomad and joint broker and for no one else in connection with the Proposed Fundraising and will not regard any other person (whether or not a recipient of this announcement) as a client in relation to the Proposed Fundraising or any other matter referred to in this announcement and will not be responsible to anyone other than IQE for providing the protections afforded to clients of Peel Hunt nor for providing advice in relation to the matters set out in this announcement. Neither Peel Hunt nor any of its affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Peel Hunt in connection with this announcement, any statement contained herein or otherwise and no representation or warranty, express or implied, is made by Peel Hunt with respect to the accuracy or completeness of this announcement, or any part of it. Peel Hunt's responsibilities as the Company's nominated adviser and broker under the AIM Rules for Nominated Advisers are owed solely to the London Stock Exchange and are not owed to the Company or to any Director or to any other person in respect of the Proposed Fundraising.

Neither this announcement, nor any copy of it, may be taken or transmitted, published or distributed, directly or indirectly, in or into the United States (including its territories and dependencies, any state of the United States and the District of Columbia), Australia, Canada, Japan, New Zealand or the Republic of South Africa or to any persons in any of those jurisdictions or any other jurisdiction where to do so would constitute a violation of the relevant securities laws of such jurisdiction. This announcement is for information purposes only and does not constitute an offer to sell or issue, or the solicitation of an offer to buy, acquire or subscribe for any shares in the capital of the Company in the United States, Australia, Canada, Japan or the Republic of South Africa or any other state or jurisdiction in which such offer or solicitation is not authorised or to any person to whom it is unlawful to make such offer or solicitation.  Any failure to comply with these restrictions may constitute a violation of securities laws of such jurisdictions. 

This announcement is not being distributed by, nor has it been approved for the purposes of section 21 of the Financial Services and Markets Act 2000, as amended ("FSMA"), by a person authorised under FSMA. This announcement is being distributed to persons in the United Kingdom only in circumstances in which section 21(1) of FSMA does not apply.

Neither the content of IQE's website (or any other website) nor the content of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.

Neither the information nor any opinion contained in this announcement constitutes an inducement or offer to purchase or sell or a solicitation of an offer to purchase or sell any securities or other investments in IQE or any other company by IQE or any of its affiliates in any jurisdiction.

 

END