(Alliance News) - Spindox Spa has announced that Paolo Costa, Mauro Marengo and Massimo Pellei, nonexecutive directors of the company, have resigned from their positions as directors of Spindox, effective immediately, due to disagreements over the management of the company.

Subsequently, Paola Bertorelle, an independent director and member of the Related Parties Committee, and Alessandro De Florentiis, a nonexecutive director, also resigned their positions as directors of Spindox.

Thus, a majority of the incumbent directors have ceased to hold office and the board of directors must be considered to have ceased to exist.

Spindox trades in the red by 0.7 percent at EUR7.55 per share.

By Claudia Cavaliere, Alliance News reporter

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