Business Services Industry
Dispute over Company's Value Erupts within British Electronic Security Firm.
Knight Ridder/Tribune Business News, March, 2004
Daily Mail, London Knight Ridder/Tribune Business News
Mar. 22--Four years ago this month Baltimore Technologies, an electronic security company, vaulted in the Footsie 100 valued at UKpound 5.2 billion.
Today a row has broken out over what remains -- a UKpound 21 million shell with 45,000 disgruntled private shareholders. Acquisitor, a predator with 10 percent, has called for an egm to oust the board.
It wants to bring in David Buchler, Tottenham Hotspur's deputy chairman and a turnaround specialist, to realise value.
Bermuda-based Acquisitor believes Baltimore (38 1/2 pence) has UKpound 30 million cash. The company calls the move "opportunist" and notes it is only recently completed its disposals. It vows to reveal the actual...
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