Blackrock International Land

Could things get any worse for Blackrock International Land? An ill-timed foray into development land just before its collapse has had a follow-through impact on its share price.

This week's EGM is largely cosmetic, to confirm a name change to Balmoral International Land. Although it's a bit eyebrow-raising that management didn't anticipate from the very start that the US-based international asset management company BlackRock might object to the name, shareholders know the company will not suffer any financial loss with the direct costs of the name change meaning there are no real implications.

What will be interesting, though, is to see if shareholders question management about its strategy, particularly given that the company did not seem to be aware of the financial difficulties facing Paddy Kelly, its joint venture partner for the redevelopment of the Markets Area in Dublin.

Blackrock International Land EGM, the D4 Berkeley Hotel, Ballsbridge, Dublin 4.