Mortgage company eChoice has announced its intention to delist the company from the Australian Securities Exchange, claiming the company would do better as an unlisted public company.The ASX has given conditional approval for the delisting, pending shareholder approval. Shareholders will meet on June 16 to vote on the proposal.The company said its stock was illiquid, with monthly trading consistently below one per cent of the shares on issue. Relatively small trades have had dramatic effects on the share price.The company said it did not believe that the share price was an accurate indication of the company's value.In addition, ASX listing involved costs and resources that did not produce any benefit for the company.eChoice (which changed its name from Firstfolio last year) had a difficult few years after taking on too much debt to fund acquisitions.eChoice chief executive Peter Andronicos said the company had completed its business restructuring and would benefit from being able to pursue business opportunities without constant public, and often negative, scrutiny."We have a number of projects in the pipeline and we just want to get on with them," Andronicos said.If shareholders vote in favour of the company's proposal there will be a 30-day trading window before delisting. The board has proposed that major shareholders give a "verbal non-binding expression of interest" in standing in the market to provide liquidity to shareholders who want to sell on the market.eChoice company secretary Dustine Pang said this liquidity option was likely to proceed. The top 20 shareholders hold 66 per cent of the stock. Pang said shareholders standing in the market would not be allowed to act jointly but would have to act "severally".The company's most recent financial report shows that it made a loss of A$1.6 million for the six months to December, compared with a loss of $3.7 million in the previous corresponding period.Revenue from continuing operations was $30 million - up 3.8 per cent. Loan settlements increased by 10.8 per cent over the previous corresponding period to $1.7 billion.The value of the loan book fell by 2.7 per cent to $16.8 billion. The company said this was due mostly to an ageing wholesale book in run-off.