Shareholders of Barclays PLC, Britain's second largest bank, voted overwhelmingly in favor of a plan to raise 7 billion pounds ($10.5 billion), largely from funds in the Middle East. Barclays said over 87 percent of shareholders approved the plan, with under 13 percent voting against it. At the vote meeting, Chairman Marcus Agius apologized to shareholders for needing to raise the money. The agreement will see the bank accept roughly 5.3 billion pounds from a trio of private investors from Qatar and Abu Dhabi as well as 1.7 billion pounds from other investors. The deal had been dogged with controversy since it was announced last month. Barclays appeased shareholders by portioning off 500 million pounds of preference shares off the proposed Mideast investment and offering it to institutional investors. All those shares - which pay an annual interest rate of 14 percent for 10 years
