News

02nd September 2003

IQE Plc Transfer to the Alternative Investment Market ("AIM")

The Board of IQE Plc ("IQE" or the "Company") announces that it intends to apply to the UK Listing Authority ("UKLA") for the cancellation of its listing of the entire issued ordinary share capital from the Official List of the UKLA ("Official List") and to apply to the London Stock Exchange for admission to trading on AIM. It is anticipated that dealings will commence in the Company's shares on AIM on 30 September 2003 and that the Company's listing on the Official List will be cancelled on the same day.

Commenting on the transfer, Drew Nelson, CEO said.... "The IQE Board believe that, at the Company's current stage of development and its current market capitalisation, AIM will give the Company increased access to potential investors and is an appropriate and cost efficient market for the Directors to effect the next stage of IQE's development".

For further information, please contact: 

Dr Drew Nelson, IQE plc 02920 839400 

Chris Meadows, IQE plc 02920 839400 

Matthew Wood, Evolution Beeson Gregory Ltd 020 7071 4300 

Tim Thompson or Nicola Cronk, Buchanan Communications 020 7466 5000 

Notes to Editors: 

About IQE: IQE, headquartered in Cardiff, is the leading outsource supplier of customised epitaxial wafers to the global semiconductor industry. Materials produced by the Group operate at the forefront of technology, typically in high speed electronics and optical systems for a diverse range of devices including those used for data/audio/visual storage, optical communications, wireless and RF devices and systems, and in an increasing range of automotive, medical and industrial applications.

About AIM: AIM is the London Stock Exchange's global market for smaller, growing companies. Good companies from different sectors and different countries are welcome on AIM. Since AIM opened in 1995, more than 850 companies have been admitted. Collectively, these companies have raised more than 10 billion US dollars whilst on AIM. There are no specific suitability criteria for companies to qualify for AIM. However, under the AIM rules, all non-listed companies coming to AIM must produce an admission document making certain disclosures about such matters as their directors' backgrounds, their promoters, business activities and financial positions. Importantly, all AIM companies are required to have a nominated adviser (popularly known as a "nomad") from the register of such advisers published by the Exchange. This nominated adviser is responsible, amongst other duties, for warranting to the Exchange that a particular company is appropriate for AIM. This is an important quality control for AIM and a very serious responsibility upon the nominated adviser. Once admitted to AIM, a company has certain ongoing disclosure requirements and needs to retain a nominated adviser at all times. AIM is operated, regulated and promoted by the London Stock Exchange.