Club shareholders will hold an EGM to enable the club to issue up to £2million of new shares.
“At the AGM in December we gave ourselves permission to allot another £500,000 worth of shares,” David Beeby told the Scunthorpe Telegraph.
“The majority of those have now been issued and therefore we’d like to issue some more. The EGM is the only way to do that.
“What we’ll put before shareholders is a resolution to enable us to issue up to £2million more. They will have the chance to vote on that.
“If it passes we will be able to allot approximately another 460,000 shares which is new money coming into the club and is fantastic.”