The Baltimore Technologies e.g.m. is to go ahead tomorrow in London despite a hitch that means a new board cannot be appointed if the current board is deposed, writes Colm Keena

Baltimore yesterday issued a statement saying it had received legal advice that the resolution from shareholder Acquisitor Holdings (Bermuda) for the appointment of a number of new directors, could not be put to the meeting. This was because notice of the willingness of the individuals to act as directors had not been received.

A spokesman for Acquisitor agreed that the required letters of consent had not been submitted. He said the motion for the removal of the current board would be put. He added that yesterday's Baltimore statement was "further evidence that it is in a desperate situation. . . They have found a minor technical detail which we have not complied with."

A Baltimore spokesman said if the board was removed and no replacements elected, a temporary structure would be put in place. The firm has 5,000 Irish shareholders and its only substantial asset is €37 million in cash.