Shares in Webis Holdings Plc (AIM:WEB) collapsed in value on Friday after the betting firm announced plans to delist from the AIM market.
Managing Director of Webis Ed Comins stated: "Following an in-depth review, the board has unanimously agreed that it is in the best interests of the company and its Shareholders to delist from AIM.
The company continues to believe its website WatchandWager has a unique position in the USA as one of the top five licensed operators in our sector and the board believes that the cancellation will reduce costs and protect shareholder value as the group seeks to grow its business in North America and deliver on strategic goals".
The delisting is contingent on a shareholder vote.
Shares crumbled 70% to 0.12p on the announcement.