The management buyout of housebuilder Linden Homes has been declared unconditional after it was accepted by 96% of shareholders.
The £73m package, launched last month by chief executive Philip Davies, makes the firm the second housebuilder to pull out of the stock market after tiring of the City's lack of interest in the sector.
The move is backed by the Bank of Scotland and will be operated through newly incorporated firm Nednil. Linden Homes shares will not be listed on the stock exchange after 4 December. Former shareholders will receive cash for their shares by 6 November.
Kent-based Ward Holdings went private in June in a £24.2m deal.
