Yeo answers disgraceful smear
Tim Yeo’s Green Networking in Parliament Pays Off - Guy Fawkes' blog
Tim Yeo MP is the current Chairman of the Environmental Audit Select Committee.
Coincidentally Tim is also chairman of a small investment-hungry AIM listed company called AFC Energy plc developing “environmentally friendly fuel cells”. In July last year he sponsored an evening event for 150 members of the Environmental Investment Network. Held in the impressively plush Members’ Dining Room overlooking the Thames, it certainly is a pleasant environment in which to woo and lubricate potential green investors.
At the time AFC Energy plc were raising £2 million from environmental investors, and for each of the following five months AFC Energy paid Tim Yeo £3,750 a month (up to a total of £18,750) until in December when they succeeded in raising the £2m they were seeking from environmental investors in a share placing. Tim also got a bonus when the shares were placed with investors of 150,000 shares for his work. All in all he made a total of some £80,000 out of the AFC deal from July when he hosted the Environmental Investment Network event until December when they sold the shares to investors.
Guido is on Newsnight tonight with Tim Yeo...