The Hornets parent company Watford Leisure Plc will be delisted from the Stock Exchange on Tuesday, May 31.

Stanmore businessman Laurence Bassini, formerly Bazini, has been in talks about gaining control of Watford since the end of last year and the latest announcement confirms the takeover will be completed at the end of this month.

The cancellation of Watford Leisure’s shares on the Stock Exchange will take place at 7am on Tuesday, May 31 and “it is anticipated” that Watford Leisure will then be re-registered as a private company.

In the full announcement, which can be seen below. it reads: “Watford Leisure shareholders who have not accepted the offer should note that cancellation is likely to reduce significantly the liquidity and marketability of Watford Leisure shares not acquired under the offer.

“Once cancellation has taken effect, Watford Leisure shareholders will no longer be able to effect transactions in Watford Leisure shares on AIM.”

Bassini is the sole shareholder of newly-created company Watford FC Limited but the shares are held ‘in trust’ by his close friend and knee surgeon Panos Thomas.

Watford Leisure Plc announcement in full

Cancellation of admission to trading on AIM

On 1 April 2011, Watford FC Limited ("WFCL") announced that as of 5.00 p.m. on that date it had received valid acceptances from Watford Leisure Shareholders in respect of a total of 24,187,814 Watford Leisure Shares, representing approximately 55.11 per cent. of Watford Leisure's existing issued share capital, and declared its Offer for Watford Leisure unconditional in all respects.

On 27 April 2011, WFCL notified the Company that it was directly interested in a total of 40,594,127 Watford Leisure Shares, representing approximately 92.49 per cent. of Watford Leisure's existing issued share capital.

Accordingly, Watford Leisure today announces that an application has been made to the London Stock Exchange for the cancellation of the admission of the Company's ordinary shares to trading on AIM ("Cancellation"). Cancellation will take effect from 7.00 a.m. on Tuesday 31 May 2011.

It is anticipated that, after Cancellation, Watford Leisure will be re-registered as a private company under the relevant provisions of the Companies Act 2006.

Watford Leisure Shareholders who have not accepted the Offer should note that Cancellation is likely to reduce significantly the liquidity and marketability of Watford Leisure shares not acquired under the Offer. Once Cancellation has taken effect, Watford Leisure Shareholders will no longer be able to effect transactions in Watford Leisure Shares on AIM.

Terms used in this announcement shall have the meanings given to them in the Offer Document dated 25 March 2011, unless the context requires otherwise.