Mark Attanasio is poised to increase his influence at Norwich City after shareholders gave the green light to the process that will see him join Delia Smith and Michael Wynn Jones as joint minority shareholders of the club.
At a general meeting held at Carrow Road on Monday evening, shareholders voted in favour of a process that will see the American's group, Norfolk FB Holdings, reach parity with Smith and Jones in holding a 40pc stake in the club - ending a 26-year spell of sole stewardship which began in 1996.
Shareholders were asked to vote in favour of approving the waiver granted by the Takeover Panel to their right to a mandatory offer for their share(s), which was triggered by the share allotment process voted on earlier this year.
The vast majority of shareholders elected to vote by proxy with around 20 attending a brief in-person meeting at Carrow Road this evening. A third party company independently verified the outcome.
It is the outcome that the club, Smith and Wynn Jones and Attanasio all hoped for as they look to move to the next phase of the American's involvement at Carrow Road.
That next step will see Norwich allocate 195,012 to Attanasio's group, which will see his shareholding rise from 21.5pc to 40pc. The American has spent £5m ($6.02m) on the shares which are due to be allotted in due course.
It is now down to the EFL, who will begin their relevant tests before the shares can be allotted. It's expected that process will be completed before the club's annual general meeting, which will be held in November.
As part of the agreement, Attanasio's group have agreed to vote in lockstep with Smith and Wynn Jones on shareholding matters for the next three years. He has first refusal should the pair elect to sell their portion of the club in the meantime.
Attanasio's group will also provide the club with a £33.64m debt payment package that will help to ease the burden on their current financial situation.
The Milwaukee Brewers owner joined Norwich's board in 2022, having purchased Michael Foulger's shares. He has subsequently hoovered up a host of other shareholdings. Those events mean that the Canaries Trust has become the third biggest shareholder in the club.
As part of the allotment, it's understood that Attanasio's group will be entitled to another seat on the board.
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