Over 40,000 shareholders in Bula Resources may lose all their investment in the company, after the Irish Stock Exchange decided to de-list the company.
Bula shares have been suspended since last April as the company faced financial crisis, and the Stock Exchange said in a statement on Friday evening it had not been satisfied the situation would be resolved in the foreseeable future.
In September, former Taoiseach Albert Reynolds resigned as Bula's chairman amid shareholder concern about $1.5 million paid to a Bahraini general, and money it is owned by a company run by Libyan president Colonel Gadaffi's son.
It is now extremely uncertain whether Bula shareholders will ever be able to sell their shares.
