Monday, 23 May 2016
Solar Cloth gets more mysterious
In their Crowdcube raise of £960k they had one investment of £500k by a person named as Charles Shale at CH. Who is he? Why would anyone invest £500k in this venture without at least taking a seat on the board?
Recent announcements show that SC had been reorganising. There were press releases about a merger with Base Structures and the original CEO stood down to be replaced by a new one as recently as February this year. Why?
RBS had given them an award - but then that's RBS for you.
To spend all the money they raised, which was £210k more than they needed, in just over 12 months is all a little odd.