Over many years CFU had purchased shares, and held around 10% of Cambridge United issued shares. Originally shares were purchased at 50p, then there was a devaluation down to 5p a share.
In 2019 Paul Barry offered to take over the ownership of Cambridge United by buying all the shares at 2p each. Other takeover offers at the time did not offer anything for shares., and the CUFC Board supported the proposed takeover by Paul Barry.
CFU had reservations about one person owning the club, and as a major shareholder CFU were involved in the discussions, and were able to ask questions, and get answers.
CFU called a Special General Meeting of members to vote For or Against the offer.
The CFU Board were split so were unable to give any guidance to members. Two Board members gave their reason to vote For or Against.
The CFU members voted For the proposal, and in due course CFU were paid around £60k for their shares.
The downloadable file “CFU SGM all docs Aug 2019” includes the SGM letter, Minutes of the meeting, CFU evaluation of the proposal, Case For, Case Against.