(Alliance News) - Lemon Sistemi Spa announced Thursday that nonexecutive director Salvatore Spagnolo has resigned with immediate effect. This resignation, the company clarified, was submitted to enable Lemon Sistemi to provide itself with a board of directors appropriate to the governance principles desired by the company, with the appointment of a second independent director.

Salvatore Spagnolo owns 383,880 shares of Lemon Sistemi common stock, which corresponds to 4.7 percent of the company's share capital. These shares are part of the 24-month lock-up restriction signed at the time of Lemon Sistemi's IPO.

Following the resignation of director Salvatore Spagnolo, the board of directors replaced him by appointing Guido Pianaroli as an independent director until the date of approval of the financial statements for the year ending December 31, 2025, in line with the other board members. Pianaroli does not own any ordinary shares in the company.

Lemon Sistemi is 3.8 percent in the red at EUR2.28 per share.

By Chiara Bruschi, Alliance News reporter

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