i-nexus Global PLC (AIM:INX) shares plummeted on AIM as the nano-cap software firm announced it would delist and re-register as a private limited company.
It comes after a period of weak share price performance and low liquidity, the company said in a statement, as it now seeks to cut costs and prioritise profitability.
Shareholders representing 59.8% of the company have backed the proposal.
To support shareholder transactions in the future, the company is engaging Asset Match Limited to facilitate off-market share dealing.
In London, i-nexus shares were down 68% to 0.98p each valuing the company at less than £300,000.