Shareholders line up Buchler to run Baltimore
Board members of cash shell Baltimore Technologies have narrowly avoided an attempt by its largest shareholder to have them removed from their posts.
The former IT giant is set to emerge from the doldrums as a clean energy solutions company, however Acquisitor Holdings, which holds over 16% of its shares, attempted to remove the board in protest at the new strategy.
They want Tottenham Hotspur Football Club vice-chairman and business turnaround expert David Buchler as chairman, and Acquisitor chairman Duncan Soukop as interim chief executive.
The board clung onto their jobs by a narrow 0.1% margin when voting took place at the extraordinary general meeting last Friday.
However Acquisitor has served Baltimore a notice to table a resolution in its forthcoming AGM to remove the entire board again.
Acquistor Holdings has set up a website to highlight their campaign at www.baltimoreaction.com.