A large shareholder in Plus Markets, the troubled stock exchange which yesterday announced plans to close after failing to find a buyer, has launched a stinging attack on the company, saying its management had "destroyed shareholder value" and called for their removal from the board.

Amara Dhari, a Middle Eastern investment syndicate that is Plus Markets' second-largest shareholder with a 17% stake, said it would continue to support the exchange financially provided its management stepped down.