Worldspreads suspends trading

Following an earlier report this week of the resignation of major shareholder and chief executive Conor Foley, WorldSpreads Group PLC has announced the suspension of its shares from trading on AIM, citing the identification of what it terms as “possible financial irregularities” coming to light as a result of a Group financial review.

It’s been a bumpy road for WorldSpreads with the recent issuing of a profit warning on its second half Financial Year earlier this month, along with the announcement of the resignation of its chief financial officer Niall O’Kelly.

Earlier this week the Group announced the appointments of Lindsay McNeile as executive chairman of WorldSpreads and WorldSpreads Ltd and Dominic Bacon as general counsel and group head of compliance.

Trading will remain suspended until the Group and its advisors have undertaken further in-depth financial investigations.