Third attempt to oust board of Baltimore

BALTIMORE Technologies, is facing a third attempt by its largest investor, Acquisitor Holdings, to oust the board and install new directors.

Acquisitor yesterday requested an extraordinary general meeting of shareholders to consider further proposals to remove the board, Baltimore said.

Baltimore shareholders earlier this month voted to keep the company’s existing directors after Acquisitor called an extraordinary general meeting in its first bid to appoint its own deputy chairman, Duncan Soukup, as chief executive and David Buchler as chairman.

Last week, Acquisitor requested a resolution at Baltimore’s annual general meeting in a second attempt to remove the current directors. The meeting must be held before the end of August.

Baltimore is trying to turn itself from a cash shell to a renewable-energy company after winding up its unprofitable technology business.

Last month, the company asked British watchdog the Financial Services Authority to investigate Acquisitor for market abuse, saying the investor bought shares while making inaccurate statements to other shareholders from March 22 to 31. Acquisitor has said it may sue Baltimore for defamation over the claims. Acquisitor this week boosted its stake in Baltimore to more than 19%.