Dave King, the South African businessman who holds a 14.5 per cent stake in the club, called the EGM to gain control of the board and unseat its four members allied with Sports Direct owner Mike Ashley, who also holds a stake in the club.
Two of them, chairman David Somers and James Easdale, resigned in the run-up to the meeting.
Shareholders today cast their vote on the future of remaining board members, chief executive Derek Llambias and finance director Barry Leach.
No discussions on the proposals were had at the meeting which lasted little longer than 10 minutes.
Hundreds of fans attended the EGM at Rangers’ Ibrox stadium along with the recently resigned manager Ally McCoist.
Fans now await the result of the vote which could come as soon as 2pm. However, they could be forced to wait over the weekend for an announcement to be made to the markets on Monday.
If successful, King and two of his associates will fill the vacant seats.