Acquisitor to block Baltimore payout

BALTIMORE Technologies largest shareholder will vote against proposal at the annual general meeting to return stg£10 million cash to shareholders.

The AGM is on July 5 and Acquisitor which has built up a stake of more than 25% is against the cash rebate option.

Acquisitor fears the former internet security company's special dividend plan will rob the company of enough funds to meet its obligations and to position itself for future growth.