“Philip Hammond took stake in company shortly before it received government grant”

“The Chancellor of the Exchequer Philip Hammond took a stake in a food technology business shortly before it received a government grant to develop low fat ready meals.

According to records at Companies House, Mr Hammond took a stake of 15 per cent in Hydramach, a food tech company based in Cambridgeshire, in October 2015 when he was still Foreign Secretary. In April 2016, the company received a share of a £560,000 grant from Innovate UK, a tech start up agency of the then Business department.

The Daily Telegraph reported that the grant was to develop low fat and low sugar soups, ready meals and sauces. Mr Hammond was appointed Chancellor by new Prime Minister Theresa May in July. …”


That was a lucky guess wasn’t it! Of all the shares in all the world, he had to choose that one …