Several senior executives and non-executive directors at Baltimore Technologies plan to step down following its extraordinary general meeting on November 28th.

Baltimore's chairman Mr Peter Morgan and its chief financial officer Mr Philip Smith will both step down as directors. Non-executive directors, Mr David Guyatt and Mr John Cunningham, will also resign.

Following the appointment of a non-executive director and the elevation of Baltimore company secretary to the board, Baltimore's board will drop from seven to five people. Mr Bijan Khezri, chief executive, will be appointed executive chairman.

At the e.g.m., shareholders will vote on Baltimore's plan to sell its core business to BeTrusted. Baltimore will then return cash to shareholders, make an acquisition or become involved in a reverse takeover, it said.