BRL’s decision is a result of an ongoing business efficiency review aimed at streamlining business processes and systems to reduce operating costs.

De-listing from the NZX will enable BRL to save on the ongoing listing fees, legal fees and registry costs associated with maintaining its NZX main board listing, the company says.

The last day on which shareholders will be able to trade BRL shares on the NZX Main Board is June 29. On the de-listing date all BRL shareholders holding their shares on BRL's New Zealand register will automatically be transferred to the Australian register.

“Such shareholders whose shares are transferred to the Australian register will continue to hold legal title to their shares and will be paid any dividends in New Zealand dollars, receive corporate documentation and notices and be able to attend meetings and vote directly,” the company said.

BRL will remain a New Zealand registered company.

“The company appreciates the support of its New Zealand shareholders and encourages them to continue with their investment in the company,” BRL said.