March 2006
Scottish Enterprise Board SE(06)46
Approvals within delegated authority
The following projects were approved within delegated authority during the period 16 February – 23 March 2006. The details are provided below.
ITI Energy Property Lease – No 1 The Exchange, Aberdeen
The Chief Executive approved the legal guarantee of up to £1.16 million relating to the ITI Energy property lease at No 1 the Exchange, Aberdeen.
Property Auction Sale
The Chief Executive approved the sale of four properties and two plots of land which were to be sold at Auction on 1 March 2006. For strategic and business reasons a building and a plot were sold prior to the auction and a building was withdrawn from the auction following expressions of interest from a prospective inward investor. The auction generated £2.044 million which was 20 per cent over the asset value of £1.705 million.
Scottish Health Innovations Limited (Shil)
Approval was granted to Competitive Business & Clusters for expenditure of £1.175 million (£235,000 per annum) for a period of 5 years to continue the development of SHIL, a comprehensive, cross-Scotland initiative created to exploit innovation within NHS Scotland, and to enhance the current service provision. The initiative has been jointly funded by SE, HIE, the Scottish Executive and the DTI.
Scottish Co-investment Fund Investments over £250,000
Exterity Limited
The Investment Team has approved the sum of £332,500 to be invested in Exterity Limited by way of A Ordinary Shares. Exterity provides technology to enable the distribution and management of digital audio, video TV and data to digital media thin-client devices.
Critical Blue Limited
The Investment Team has approved the sum of £474,976 to be invested in Critical Blue Limited by way of C Ordinary Shares. Critical Blue Limited develops electronic automation design software.
Mobiqa Limited
The Investment Team has provided the sum of £500,000 to be invested in Mobiqa Limited by way of A Ordinary Shares. Mobiqa provides creation, delivery and redemption of barcodes to mobile phone users for the purpose of mobile ticketing and coupons.
Brian Jamieson
SE Secretary
March 2006