News

31st October 2002

INTENTION TO DE-LIST FROM NASDAQ EUROPE
 

Cardiff, UK, 31 October 2002 - IQE, the leading global outsource supplier of customised epitaxial wafers to the semiconductor industry, today announces that it has requested that the Market Authority of Nasdaq Europe approve the de-listing of its shares from Nasdaq Europe.
 

The Board has decided to withdraw its admission to listing on Nasdaq Europe and such request was approved by the Nasdaq Europe Market Authority on 29 October 2002, subject to certain conditions being fulfilled, and de-listing is expected to take place on 30 November 2002.

The principal reason for the de-listing from Nasdaq Europe is that the majority of the dealing in the Company's shares is concentrated on the London Stock Exchange's TechMARK index and not on Nasdaq Europe. In addition, the Board believes that trading on a single market will present a clearer investment opportunity to potential investors.
 

When trading on Nasdaq Europe is terminated, any shareholder wishing to sell their shares in the Company via the market will have to do so through the London Stock Exchange and settle trades either electronically through the CREST settlement system or through the residual system involving share certificates and share transfer forms.
 

The Nasdaq Europe Market Authority's approval of the de-listing of the Company's shares from Nasdaq Europe is conditional, inter alia, on the Company's compliance with the Continuing Requirements imposed on Nasdaq Europe Listed Issuers until the de-listing takes effect. All price sensitive information in respect of the Company will be made available to investors through the Company Announcements Office and Regulatory News Service of the London Stock Exchange.
For further information, please contact:

 

IQE Leslie Coventry/Chris Meadows Tel: +44 (0)29 2083 9400
Evolution Beeson Gregory Tim Worlledge/Matthew Wood Tel: +44 (0)20 7488 4040
Buchanan Communications Tim Thompson/Nicola Cronk Tel: +44 (0)20 7466 5000