Baltimore Technologies prepares to delist

THE death knell for Baltimore Technologies as a listed company was sounded by its new management yesterday in a bid to streamline costs at the company.

The company said the cost of servicing its 40,000 small shareholders was a burden on its finances and could not continue and it plans to consolidate shares.

The company has no operating units and the new board says it is working on a plan to reinvent the company which was once worth €7.15 billion. It said that of the 40,000 shareholders some 24,000 owned less than 125 shares each. The value of 125 Baltimore shares is under €31.5.