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1240/5/1(106)
WRITTEN QUESTION TO THE MINISTER FOR TREASURY AND RESOURCES BY DEPUTY S.Y. MÉZEC OF ST. HELIER
ANSWER TO BE TABLED ON TUESDAY 14TH FEBRUARY 2017
Question
As shareholder representative for JT, what involvement, if any, did the Minister have with the decision of JT to invest in the Energous Corporation?
Answer
In accordance with the Memorandum of Understanding the possibility of business acquisitions or investments of this nature are identified in 2016 Operating Plan. The Assistant Minister for Treasury and Resources received a verbal briefing from the CEO of JT Global further to the Board's approval and in advance of the transaction. This was subsequently supplemented by the provision of internal JT documents and accompanying paperwork.