Seven's move to delist VOIP player Engin

MARKET: Engin has received a fresh proposal from Seven that will allow the VoIP (Voice over Internet Protocol) player to de-list from the ASX. Source: Getty Images

VOICE over the internet provider Engin says it has received a fresh proposal from majority shareholder Seven Group Holdings to conduct a selective capital reduction.

Seven's wholly owned subsidiary, Network Investment Holdings, made the request for Engin to consider a proposal for shareholders other than Network to receive 90 cents a share and the shares of those stakeholders be cancelled.