Ireland's newest millionaires have been having a hard time recently with international stock markets taking a nosedive and their shareholdings losing significant value. Those seeking to join the exalted club have also fallen on hard times.

First, several executive directors of PARC, were in line to become paper millionaires, but poor market sentiment prompted the company to postpone its flotation on the DCM in Dublin and the AIM in London and the directors hopes were dashed, at least for the moment.

Now financial software company, Flexicom, has confirmed it is reviewing its flotation on DCM and AIM. This means no £1.7 million payout for the company's chief executive, Mr Patrick Shiel, while Dr John Clarke, the other founder, will have to forgo his £300,000 from the share offering, at least for now.

The company hoped to float before the end of the year, but says it is now "reviewing prevailing market conditions" before it takes the plunge. It cannot say at this stage when the flotation might take place.