IQE shareholders approve key resolutions at general meeting

LONDON - IQE plc, the leading global supplier of compound semiconductor wafer products and material solutions, announced Monday that its shareholders have approved all proposed resolutions at the company’s General Meeting. The resolutions included the authorization for directors to allot shares and the empowerment to issue and allot equity securities.

The first resolution, which allows directors to generally and unconditionally allot shares, passed with overwhelming support, receiving 97.74% votes in favor. The second resolution, granting directors additional rights to issue and allot equity securities, also passed with 97.71% approval. Both resolutions were essential for the company’s future operations and potential expansion efforts.

The total number of votes cast for the first resolution was 470,497,939, with 459,843,167 votes for and 10,654,772 votes against. The second resolution saw a similar turnout, with 470,497,964 votes cast, 459,744,576 for and 10,753,388 against. A small number of votes were withheld for both resolutions.

The details of the resolutions were previously outlined in the Circular and Notice of General Meeting, which was made available on February 14 on the company’s website. IQE, which is headquartered in Cardiff, UK, is known for its advanced semiconductor wafers that are used in a variety of applications, including smart connected devices, communications infrastructure, and automotive and industrial sectors.

The approval of these resolutions is a step forward for IQE as it continues to supply the global market and enable customers to innovate at both chip and OEM levels. The company prides itself on its intellectual property portfolio, which includes patents and know-how that contribute to producing high-quality epitaxy wafers.

IQE operates manufacturing locations in the UK, US, and Taiwan and is listed on the AIM Stock Exchange in London. The recent general meeting’s results reaffirm the shareholders’ trust in the company’s direction and management.

This report is based on a press release statement.

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