Stephen Westwood, who was ousted as chief executive of Dundee-based medical technology group Idmos last July, was paid £138,625 in compensation, according to the com- pany's annual report just published.

Westwood, who earned £207,410 in 2006, was paid a total of £295,450 includ-ing the compensation. He was replaced as chief operating officer by Graham Lay, who last month became chief executive.

In the report, Lay tells shareholders his appointment signalled a "more proactive and directed approach with the emphasis on revenue generation".

Executive chairman John Pool says that the latest funding round which saw Idmos raise £1.54m in new shares at 25p last month, and the completion of restructuring, has been the cue for him to step down from the board next week.

Idmos made a £3.5m pre-tax loss last year. It says cash burn has now been reduced to less than £150,000 a month as it looks forward to "significant sales" of its caries detection system in the dental market.

The report shows the biggest risk is being shouldered by Invesco with 22.8% of the shares, while Schroders has 13.4% and Morley 5%.

Co-founders Professor Nigel Pitts and Dr Chris Longbottom each hold 12.2%, while the universities of Dundee and St Andrews between them hold 11.9%.