Moves to oust Baltimore board
13 April 2012
FOUR years ago this month, Baltimore Technologies, an electronic security company, vaulted in the Footsie 100 valued at £5.2bn.
Today a row has broken out over what remains - a £21m shell with 45,000 disgruntled private shareholders. Acquisitor, a predator with 10%, has called for an extraordinary general meeting to oust the board.
It wants to bring in David Buchler, Tottenham Hotspur's deputy chairman and a turnaround specialist, to realise value.
Bermuda-based Acquisitor believes Baltimore (38 1/2p) has £30m cash. The company calls the move 'opportunist' and notes it is only recently completed its disposals. It vows to reveal the actual balance and its plans later this month. Stay tuned.
