Rank Group today became the latest European company to announce its intention to delist in the US blaming the prohibitive cost of complying with the US corporate governance regulations known as Sarbanes-Oxley. Its shares are quoted on Nasdaq.

A Rank Group spokesman said the cost of complying with the legislation could more than double the group's annual audit bills, costing the firm at least an additional £2.1m (€3m) in fees, compared with last year's bill of £1.5m.