GA chief executive Neil Bennett said the agency had been asked to appeal to Baltimore’s estimated 45,000 private investors to vote out the Baltimore board at the next AGM. Acquisitor wants to install a five-strong board including two Acquisitor directors and three independents. The meeting is expected to take place in six weeks.
The agency launched website Baltimoreaction.com on 22 March, which sets out the case for the board’s replacement.
Baltimore’s market capitalisation was £4.3bn on 28 February 2000, the height of the tech boom. On 28 February 2004, it was £18.5m. Acquisitor blames mismanagement for the decline.
Nick Bastin, a director of Baltimore’s retained financial PR agency Smithfield, said: ‘We have set out an orderly process for this requisition bid and will continue to represent Baltimore.’