Sunday November 1, 2020

Datalex seeks support to get Desmond deal over line

Airline software company urges shareholders to approve extra €5m in loans from businessman

Ian Guider

Markets Editor

14th November, 2019
Dermot Desmond has already provided €6 million to Datalex this year

Datalex, the troubled airline software developer, is seeking to shore up support for its latest emergency fundraising.

The company is raising a further €5 million in loans from Dermot Desmond, its biggest investor, and requires shareholder approval for the deal tomorrow.

In the last couple of days, the company has attempted to persuade shareholders that the loan from Desmond, who has already provided €6 million to Datalex this year, is the only option to help...

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