Baltimore shareholders oust management team
Shareholders, led by Acquisitor Holdings which owns 26% of Baltimore, voted at the company's annual general meeting to appoint five new board members and sack the current board. The new directors were proposed by Acquisitor, which failed in a previous attempt to gain control of the board.
Baltimore's investors rejected a proposal by the previous board to pay a special dividend to them. They also rejected motions approving the annual accounts for 2003 and directors' pay. The victory for Acquisitor, which buys stakes in undervalued companies, ends a six month battle to for Baltimore.
