Results 18,501-18,520 of 26,430 for speaker:David Cullinane
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014 (6 Apr 2017) David Cullinane: Was he also supported by the office of research and innovation?
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014 (6 Apr 2017) David Cullinane: But was there a role for the head of the office of research and innovation?
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014 (6 Apr 2017) David Cullinane: Either there is or there is not. Is there a role for the office or the head of research and innovation?
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014 (6 Apr 2017) David Cullinane: I am not asking that. I have to stop for a moment.
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014 (6 Apr 2017) David Cullinane: I am not asking about the head, I am asking about the office. Did the office of research and innovation have oversight?
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014 (6 Apr 2017) David Cullinane: At the time, who was the head of the office of the research and innovation?
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014 (6 Apr 2017) David Cullinane: Professor Donnelly was also one of the shareholders.
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014 (6 Apr 2017) David Cullinane: We have that information. Those negotiations took place and the institute took up a 10% to 11% shareholding.
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014 (6 Apr 2017) David Cullinane: Then there was a number of rounds of dilution because a number of venture capitalists came on board. Is that correct?
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014 (6 Apr 2017) David Cullinane: So the answer to my question is "Yes", a number of venture capitalists came on board and that subsequently diluted the shareholding of the institute.
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014 (6 Apr 2017) David Cullinane: But they were investors.
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014 (6 Apr 2017) David Cullinane: Investors came on board and that diluted the institute's shareholding. The company then was eventually sold. How much was it sold for?
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014 (6 Apr 2017) David Cullinane: How much of the €63.9 million went back to the institute for its shareholding?
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014 (6 Apr 2017) David Cullinane: The sum of €1.5 million after all of the investment in terms of researchers-----
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014 (6 Apr 2017) David Cullinane: I am asking a question.
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014 (6 Apr 2017) David Cullinane: None of that is contested. My point is that the company was sold for almost €64 million and the institute got €1.5 million but the institute would have put in a lot of resources in terms of supporting the company, notwithstanding the fact that it was a private company. Professor Donnelly was also a shareholder so when the company was sold did he benefit financially?
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014 (6 Apr 2017) David Cullinane: By how much?
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014 (6 Apr 2017) David Cullinane: I am not interested in Professor Donnelly's financial circumstances as an individual but I am interested in the head of research and innovation in an institute being a shareholder in a company in which the institute is also a shareholder. I will get the information in a moment as to who had ownership of policy. My understanding, based on the figures, is that Professor Donnelly benefitted to...
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014 (6 Apr 2017) David Cullinane: I am going to address some of those points because I want to concentrate on policy, which is very important. My point is that Professor Donnelly benefitted financially very significantly from the sale of the company. That is just a matter of record and he has given the reasons.
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014 (6 Apr 2017) David Cullinane: Could I just ask the witness to refrain from referring to me as disingenuous? I would say to the Chairman and witness that I have a job to do. My job is to make sure the interests of any institute are protected. I have a job of work to do to follow the money trail in terms of where there is a relationship between institutes of technology and private companies and where those institutes...