CFU has today received a reply to its letter of 14 December 2017 to Cambridge United Football Club Limited, which asked for more detail of the company accounts than has been provided to shareholders in recent years to be supplied in advance of the club’s annual shareholders’ meeting.
The supporters’ trust’s board confirms that it is not fully satisfied with the reply, and it is to seek further clarification on the matter.
Not having received a reply to its first letter, the CFU Trust Board wrote again to the club on January 24, and was assured a response was “imminent”. Six days later, on January 30, still not having received a full reply, CFU wrote again, saying the delay was unacceptable and asking that it be informed by February 1 when to expect a response.
CFU, a significant shareholder in the company, also reiterated its request to be informed of the probable date of the annual shareholders’ meeting, at which it is likely to have questions for the company.
A reply from CUFC Finance Director Steve Chamberlain was received today (February 1). He confirmed that the company was "working on specific additional disclosures” to shareholders. Mr Chamberlain said the company needed to “ensure the balance is right between disclosed information and that which must remain confidential”.
He was unable to confirm the exact date of the shareholders’ meeting but indicated that it would probably take place in late March or early April.
Mr Chamberlain’s reply does not answer all of CFU’s concerns, and the Trust Board will be seeking further information in the near future.
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