Younger gets £250,000 from trust for his business
THE media organisation headed by photographer and businessman Malcolm Younger has received a quarter of a million pound cash injection from Shetland Development Trust.
A sole trader, Mr Younger has been at the head of Millgaet since its creation in 2004.
But the £250,000 investment of public funds, announced on Tuesday, will see the organisation transformed into a limited company.
Mr Younger said the move would see himself and the development trust invest an equity share in the business.
He claimed his share would easily match that of the development trust’s.
The investment will help Millgaet expand its business by taking on new members of staff and investing in new equipment.
The company specialises in photography, film and video, graphic design and publishing.
Millgaet Media is also the name behind the monthly ii Shetland magazine and provides television coverage in news and current affairs for Scottish Television.
As part of the investment, the trust will hold a director’s position in the company.
Bobby Hunter was voted on as co-director by the development committee to assist the company with its plans.