WorldSpreads shares have been suspended on London's AIM market after a financial review uncovered what it described as “possible financial irregularities”.
Earlier this afternoon, an announcement to the London Stock Exchange said the spread-betting firm had requested the suspension of its shares from 1pm.
A later statement from WorldSpreads explained its position.
“Whilst the group and its advisers investigate, Worldspreads has requested a suspension of its shares from trading pending its findings and clarification of the group's financial position,” the statement said.
“Given the uncertainty as to the outcome, Worldspreads is currently unable to assess its financial position, and inform the market accordingly, and considers the suspension to be appropriate.”
The shares will remain suspended until WorldSpreads can clarify its financial position. The British Financial Services Authority has been notified of the situation.
The news comes only days after its chief executive and founder Conor Foley stepped down from the board to “pursue other interests”. Mr Foley remains the group's largest shareholder.
