Director dealings: IQE director lowers stake

15 April 2019

(Sharecast News) - IQE's operations director Dr Howard Williams disposed of 3.17m ordinary shares in the AIM-listed semiconductor products manufacturer on Monday.
Williams, who was appointed operations director at IQE back in 1996, sold the shares at an average price of 68.40p, for a total value of £2.17m.

The Cardiff-based outfit's executive exercised options over 3.43m ordinary shares of 1p each last Wednesday, opting to dispose of the majority of them for "personal wealth planning purposes".

Williams still holds a beneficial interest in 2.63m ordinary shares.

Back in March, IQE shares dropped after it reported a decrease in annual profits and warned that it faced short-term headwinds.

Profit before tax for the year ended 31 December came in at £14.0m, a decrease of 43% compared to the year before, while a 1% increase in revenue to £156.3m was more than offset by a 3% increase in the cost of sales to £118.8m and a 38% jump in administrative costs to £29.9m.

As of 1610 BST, IQE shares had moved ahead 1.66% to 70.55p.

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