Healthcare Locums Plc (HLO:LSE), the specialist health and social care staffing firm, has announced that the ordinary shares of the company have been suspended from trading on AIM with immediate effect.

The board has strong reason to believe that the financial performance of HCL for the year to 31 December 2010 will be materially below market expectations.

Serious accounting irregularities have been brought to the attention of the board as a result of which the company will be carrying out an immediate investigation to consider the financial implications.

In its last interim results announced for the six months ended 30 June 2010, the company reported revenue of 76.4 million Pounds and an operating profit of 7.6 million Pounds both down from the previous period given uncertainties in the National Health Service. Nevertheless, the company has been actively acquisitive both in the UK and abroad.

The company also announces that both Executive Vice-Chairman, Kate Bleasdale and Chief Financial Officer, Diane Jarvis have been suspended pending the outcome of the investigation. 

Kate Bleasdale founded Healthcare Locums in 2003 and is twice winner of the AIM Entrepreneur of the Year (1997 and 2008).  She was also named Entrepreneur of the Year 2008 at the Quoted Company Awards.  Most recently she won the Ernst & Young Entrepreneur Of The Year Award 2009 for Business Services.

A further announcement will be made in due course.