Pub owner Long Botham Boats Co. Ltd. has taken its shares off the Bermuda Stock Exchange, after shareholders approved a decision in December to delist.

At the time, Long Botham ? the parent company of Henry VIII?s Pub and Restaurant and owner of Robin Hood Pub and Restaurant, through a subsidiary company ? said it was in the best interest of the company to be publicly traded, said the board.

The delisting became effective yesterday, a news release from the BSX announced.

Previously, Long Botham said its decision primarily stemmed from it no longer operating a public facility, after the company lost its contract to run the Horseshoe Bay Beach Concession to another party.

The group ran the beach sundries, ice cream and snacks kiosk for a decade.

Although the company said that loss should be offset by revenue from the Robin Hood, owned through Little John Limited, it did not see enough benefits to continue trading on the BSX.

It said public trading was not its traditional source of income, the shares traded little and it would no longer be faced with the cost of audit fees.

The December announcement to delist was greeted with some concern from BSX CEO Greg Wojciechowski, questioning whether shareholders would see their ?fundamental rights? as investors eroded, because a private company would not have the same disclosure requirements.