Travel software company Datalex has announced that it will temporarily suspend trading of its shares from May 1st.

It comes as the company says it will not be in a position to publish its accounts as scheduled on April 30th.

A review of Datalex finances in recent months identified "significant accounting irregularities" which prompted it to overhaul its finance function and implement improved controls.

PwC was hired to conduct a review of its finances and it found that the company's finances had been misstated.

The Datalex share price fell substantially following the revelation.

The board said in a statement this morning that it aims to minimise the delay in the completion of the accounts.

It added that the company was in the process of finalising the audit and the results would be announced as soon as possible.