Baltimore to pay stg£10m dividend

BALTIMORE Technologies will pay shareholders a stg£10 million special dividend in a bid to fend off a rebel investor getting control of the company.

The company said the dividend will cost it 18.5p per share, to be paid out of its cash pile of stg£25m that had been earmarked for acquisitions to rebuild the business.

Baltimore has been fighting with 22% shareholders Acquisitor Holdings for some months now. Acquisitor has called for a second extraordinary general meeting (EGM) of shareholders to oust the current board.