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Crisis at Alpha as shares suspendedCrisis at Alpha as shares suspended
John Rimmer
1-May-2006
UK. As DFNI went to press, trading in Alpha Airports Group shares remained suspended as the retail and catering specialist sought clarification of auditor PricewaterhouseCoopers' (PwC) withdrawal of approval of its preliminary results for the year ended January 31
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The decision to suspend trading was taken late on April 24 as Alpha realised it could not meet the deadline for signing off the results. PwC's move, which relates to
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(25-Apr-2006) - Alpha Airports Group has suspended its shares following doubts about the validity of its financial results
(15-Jul-2006) - UK. Alpha Airports Group CEO Peter Williams has insisted that the company has "a bright future" as it emerges from the turmoil that led to the departure of predecessor Kevin Abbott and finance director Heather McRae and caused trading in the company's shares to be suspended
(4-Sep-2006) - Alpha Airports Group makes further recovery and continues its search for a new chairman
(3-Jul-2006) - The parent company of Excel Airways, the airline implicated in the crisis that led to the suspension of Alpha Airport Group's shares, makes a $10m provision in Excel's financial statements
(10-May-2006) - An investigation reveals that the retail and catering group "consciously assisted" an unnamed customer "to put itself in a position in which it might have been able to manipulate its own financial statements"