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Travel software company Datalex has announced that it will temporarily suspend the trading of its shares as of May 1st.
This comes as the company declares that it is unable to meet regulatory deadlines to publish its accounts, as planned, on April 30.
An examination of Datalex's finances in recent months has revealed "significant accounting irregularities" that have prompted it to reorganize its financial function and implement enhanced controls.
PwC was hired to conduct a review of its finances and corroborated the statement that the company's finances had been poorly explained.
The Datalex stock price fell sharply following the revelation.
The board said this morning in a statement that it wanted to minimize the time to complete the accounts.
He added that the company was finalizing the audit and that the results would be announced as soon as possible.
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