30th June 2023
Appointment of Non-executive Director
IQE plc (AIM: IQE, "IQE" or the "Group"), the leading supplier of compound semiconductor wafer products and advanced material solutions to the global semiconductor industry, is pleased to announce the appointment of Harmesh Suniara to the Board as a Non-executive Director, with immediate effect, as a representative of funds or accounts managed on a discretionary basis by Lombard Odier Asset Management.
Harmesh has over 15 years’ experience of working in investment management, with a particular focus on UK small and mid-cap equities including the technology and life sciences sectors. He brings a wealth of expertise in active engagement with companies that Lombard Odier has invested in. Since 2017 he has worked as a Portfolio Manager at Lombard Odier 1798 Volantis, and prior to this he was an Investment Manager at Henderson Volantis Capital and Gartmore Investment Management. Lombard Odier 1798 Volantis is a major shareholder in IQE.
Phil Smith, Chairman of IQE, commented:
“I am delighted to welcome Harmesh to the Board of IQE. He brings with him significant capital markets expertise and a core understanding and appreciation for our business. I look forward to working with him and the rest of the Board as we harness and capitalise on the opportunities in the pipeline and deliver on our strategic growth objectives.”
The following disclosures are made in accordance with Schedule 2(g) of the AIM Rules.
Harmesh Kumar Suniara, aged 52, also currently serves as a Non-executive Director on the board of Actual Experience plc.
Lombard Odier 1798 Volantis has a beneficial interest in 141,593,743 ordinary shares of IQE, representing 14.73% of IQE's issued share capital.
There is no further information to be disclosed pursuant to Rule 17 or Schedule Two, paragraph (g) of the AIM Rules for Companies.
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IQE is the leading global supplier 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 in this market which has high barriers to entry. IQE supplies the global market and is enabling customers to innovate at chip and OEM level. By leveraging 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 eight manufacturing locations in the UK, US and Taiwan, and is listed on the AIM Stock Exchange in London.