Results 18,761-18,780 of 26,685 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: 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...
- 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 would prefer if Professor Donnelly answered it.
- 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: What was the commencement date of that policy?
- 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 the 2016 policy signed off on by the board?
- 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 have both here. The first is Intellectual Property Policy, version No. 1, signed off by the governing body and also the office of the head of research and innovation. The commencement date is 23 February 2010. Does Professor Donnelly have a copy of that?
- 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: He will see at the bottom of the front page that it refers to the policy owner. This line of questioning on the issue is important.