Baltimore, the shell company previously named Baltimore Technologies, yesterday listed on London's Alternative Investment Market (Aim) under a new corporate structure.
The firm has acquired two of its investors - Acquisitor Holdings and New York Holdings - to form the new investment business, Baltimore plc.
The new firm has a total of about 16,500 shareholders, of whom roughly 3,000 are independent shareholders based in the Republic. Under the new structure, New York Holdings and Acquisitor will relinquish their listings on the Ofex market and on Aim respectively.
In documents circulated to shareholders last month, Baltimore chairman, David Buchler, said the combination of the three companies would create "a potent Aim company with pro forma assets of almost £32 million (€47 million)".
He said the move would fulfil the board's promise to Baltimore shareholders to relist the company at the earliest opportunity.
When it was stripped down to its shell, Baltimore Technologies had cash balances of €37 million.
In the six months to the end of June last year, the firm generated an operating loss of £1.18 million on a turnover of zero. It had net assets at the end of June of £16 million.
In its previous guise, Baltimore formed part of the FTSE 100 index of shares before collapsing at the end of the technology boom. In 2004, Bermuda-based Acquisitor ousted the firm's board of directors and delisted its shares in an effort to cut costs.
