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- Shares of Seardel Investment Corp . rallied as much as 40 percent, after the investment company said it may transfer its listing to the " cash shell " sector of the Johannesburg Stock Exchange, or delist.
- Bijan Khezri, a former Director of Baltimore Technologies in charge of capital markest finance and who had left the company over disagreements with Fran Rooney in 2000 was appointed CEO . The new management team sold off the different business units in a series of demergers and by December 2003, following the sale of the PKI business to Betrusted and the authentication business to Hewlett Packard, the Company turned into a cash shell.