The IQE website contains all the elements required under Rule 26 of the London Stock Exchange's AIM rules concerning Company Information Disclosure.
Registered company offices
Main Country of Operation: United Kingdom
United Kingdom Incorporated Companies:
IQE plc Registered Office: Pascal Close, Cardiff. CF3 0LW. Company Registered in England No.: 03745726
IQE (Europe) Ltd Registered Office: Pascal Close, Cardiff. CF3 0LW. Company Registered in England No.: 02107558
IQE Silicon Compounds Ltd Registered Office: Beech House, Pascal Close, Cardiff. CF3 0LW Company Registered in England No.: 03986643
Wafer Technology International Ltd Registered Office: Pascal Close, Cardiff. CF3 0LW. Company Registered in England No.: 02928144
Wafer Technology Ltd Registered Office: Pascal Close, St. Mellons, Cardiff. CF3 0LW. Company Registered in England No.: 01829722
USA Incorporated Companies:
IQE Inc Registered Office: 119 Technology Drive, Bethlehem, PA 18015
Singapore Incorporated Company:
MBE Technology Pte Ltd Registered Office: 30 Tampines Industrial Avenue 3, Singapore 528775
There are no restrictions on the transfer of securities.
Statement of Compliance with the UK Corporate Governance Code
The Board of Directors believes in high standards of corporate governance and is accountable to shareholders for the Group’s performance in this area.
The Group has chosen to apply the UK Corporate Governance Code (the “Code”) and to provide corporate governance disclosures similar to those that would be required of a premium-listed company. The Code is available on the website of the Financial Reporting Council (FRC) at: www.frc.org.uk.
IQE has identified the following areas of non-conformance with the Code:
Provision 5: IQE has a People Forum which Senior Management use for engagement with the workforce. As new Non-Executive Directors are brought onto the Board in 2021, it is the Board’s intention to appoint a Non-Executive Director to be responsible for workforce engagement.
Provision 17: IQE does not currently maintain a succession plan for the Company Secretary or all Senior Management immediately below Board level. IQE will work to develop such plans based on merit and objective criteria. As part of its consideration of developed succession plans, the Nominations Committee will consider the linkage of its diversity objectives with company strategy and the gender balance of those in Senior Management and their direct reports.
Provision 18: The Company’s Articles of Association currently provide for a third of directors to be subject to annual re-election. The Board intends to propose and recommend the requisite changes to the Articles to provide for all directors to be subject to annual re-election at the 2021 AGM.
Provision 21: IQE undertook an evaluation of the Board during 2020. A formal evaluation of each of the Committees, Chair and individual Non-Executive Directors was not completed. IQE intends to develop a comprehensive process for annual evaluation during 2021.
Provision 33: The Remuneration Committee has responsibility for determining the policy and setting remuneration for the Executive Directors and the Chairman. It also has responsibility to recommend and monitor the level and structure of remuneration for senior management. However, the Remuneration Committee does not currently determine the policy and set the remuneration for senior management and the Company Secretary as required by the Code.
Provision 36: Share options granted to the Executive Directors under IQE’s LTIP are subject to total vesting and holding periods of 3 ¼ years. In addition, Executive Directors are subject to a minimum holding requirement equal to 200% of their base salary and will have a post-employment shareholding requirement for 2 years. The minimum holding will be equal to 200% of base salary in the first-year post-employment, reducing to 100% of base salary in the second year. A copy of the 2018 UK Corporate Governance Code is available at ww.frc.org.uk.
The City Code on Takeovers and Mergers (the “Code”) applies to the Company. The Code is administered by The Panel and Takeovers in Mergers.
This page was last updated on 7 September 2021.