27Related party transactions
During the year, the Group received funding for SOI technology development of £1,570,000 (2007: £1,507,000) from SOI TEC Silicon On Insulator Technologies SA (Soitec). Furthermore, the Group paid £387,000 (2007: £181,000) to Soitec during the year in relation to licence income from the two parties’ ongoing collaborative agreement to develop SOI technology. Soitec is an SOI IP company of which Doug Dunn, Group Chairman, is a non-executive director. At 31 December 2008, £nil (2007: £nil) is owed by Soitec. Amounts owed to Soitec at 31 December 2008 and 2007 were £36,000 and £nil respectively.
Also during the year, the Group sold IP technology to Netronome Systems Inc., a company of which John Scarisbrick is Chairman, amounting to £757,000 (2007: £480,000). £244,000 is due from them at 31 December 2008 (2007: £265,000).
There were no other related party transactions during 2008 which require disclosure.
Key management compensation is disclosed in note 4.Return to top of the page