Shares in sparkling wine producer Gusbourne PLC (AIM:SHLP) lost their fizz, dropping 8% in early trading after majority shareholder Lord Ashcroft, the former Tory Party treasurer, called for a vote to delist the company from the AIM market.
His firm, Belize Finance, which owns nearly 67% of Gusbourne, has formally requested a General Meeting to consider the move.
The board must schedule the meeting within 21 days, but for now, shareholders are being told to hold tight.
With this development, Gusbourne has ended talks with other potential buyers, closing the door on any takeover possibilities. The company is no longer in an official “offer period” under takeover rules.
The stock fell 3p to 35p.