Cameronians Pagri flash

[cbuehler]

I have had this for awhile now and thought it to be a formation sign for the BD, but further investigation now leads me to believe it is actually a Pagri flash.
Each corner has remains of thread showing it was stitched on at these points only. Also the backing is not what I would expect to see on a formation sign.
My old camera does not capture the slight browning effect of sun exposure and wear.

CB