Capital Pub Company is to ask shareholders permission to raise up to around £5.5m to fund acquisitions.
The London-based managed house group wants to raise the money if "earnings-enhancing acquisition opportunities" become available.
The group, led by Clive Watson, wants to be able to issue a further 5,571,000 shares in the company without the need for a shareholder meeting should the right deals be available.
A likely purchaser of the new shares is Moorfield Capital, the property investor, which recently raised its holding in the group to over 8% through a similar purchase of new shares.
In a statement to the market, the AIM-listed group said that it would be holding a general meeting on 23 June.
It said: "The sole resolution (a special resolution) to be proposed at the general meeting is the grant to the directors of authority to issue 5,571,000 ordinary shares in the company for cash, otherwise than pro rata to existing shareholders.
"The directors regularly identify earnings-enhancing acquisition opportunities to increase the company's estate of pubs. Normally authority to issue shares for cash otherwise than pro rata to existing shareholders would be sought at the company's next annual general meeting in September 2010.
"However, there are some earnings-enhancing opportunities that the directors are keen to pursue in the short term."
This morning, a spokesman for Capital said: "This move will give the company greater flexibility and the ability to move quickly should a opportunity arise."
Watson, chief executive, told M&C Report last month that the company was aiming to open a further three pubs this year. Capital shares are currently priced at 103.5p