(Alliance News) - KME Group Spa announced on Friday the resignation of non-independent director Alberto Previtali, who, having adhered to the ongoing takeover bid with all the company's financial instruments held by him and his spouse, "considered such resignation a due and proper act towards the company and the market," the company clarified.

Alberto Previtali held no other positions in the company beyond that of director.

KME Group's stock on Friday closed down 0.9 percent at EUR0.99 per share.

By Chiara Bruschi, Alliance News reporter

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