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For i As Integer = (ListBox1.SelectedItems.Count - 1) To 0 Step -1
            ListBox1.Items.Remove(ListBox1.SelectedItems(i))
        Next

Public Class Form1

    Private Sub Form1_Load(ByVal sender As Object, ByVal e As System.EventArgs) Handles Me.Load
        ListBox1.Items.Add("1")
        ListBox1.Items.Add("2")
        ListBox1.Items.Add("3")
        ListBox1.Items.Add("4")
        ListBox1.Items.Add("5")
        ListBox1.Items.Add("6")
    End Sub

    Private Sub Button1_Click(ByVal sender As System.Object, ByVal e As System.EventArgs) Handles Button1.Click
        For i As Integer = (ListBox1.SelectedItems.Count - 1) To 0 Step -1
            ListBox1.Items.Remove(ListBox1.SelectedItems(i))
        Next
    End Sub
End Class