Botry-Zen chairman Stephen Higgs said the move still required approval from its shareholders.
But the company's relative size and financial circumstances meant continued listing "presented significant, ongoing costs and challenges for the company".
However, the Botry-Zen board intends seeking listing on the Unlisted exchange. Unlisted was not a registered or authorised securities exchange. Neither was it regulated under New Zealand securities markets law.
According to its website, it was an unregistered securities trading facility for the trading of previously allotted securities.
It has been a difficult year for Botry-Zen.
Production difficulties with its ARMOUR-Zen botrytis fungi-fighting product resulted in sales lower than expected, and it had to go to shareholders seeking an injection of capital.
This was rejected, and led to a breach of funding arrangements and last minute discussions with the Bank of New Zealand.
A possible sale was discussed. Eventually the manufacturing problem was resolved.
Two shareholders, including Germany-based Claus Hartge, provided the necessary funding in exchange for an allocation of shares.
The company reported a net operating loss before tax of $1.2 million in the year to March 31. Part of the problem was lower than budgeted sales revenue of $342,000.
A date would be announced soon for a special meeting of shareholders to consider the board's delisting recommendation.
