ENIC, the company that owns the club, won the required percentage of the votes on the proposals to go ahead with the scheme which should raise £15m for the club, which has spent recent months flirting with the relegation zone.
But the plan was not without its critics - smaller shareholders had claimed the scheme was unfair and an opportunity for ENIC to increase its shareholding at a cut-down rate.
The scheme has already resulted in the resignation of Howard Shore, one of the club’s directors.
Said club chairman Daniel Levy: “I very much hope that fans will see a strengthening of the squad in the summer.”
