(Alliance News) - Lemon Sistemi Spa announced Wednesday that the remaining 415,805 ordinary shares of the company's capital increase have been subscribed by GWM Growth Fund SA SICAV RAIF - part of the GWM Group.

The shares taken over by GWM represent 4.84 percent of Lemon Sistemi's share capital and were subscribed at EUR1.47, for a total of EUR611,233.35.

GWM Group is an asset manager founded in 2000 that operates through its offices in London, Luxembourg, Milan, Rome and Malta, with a management, research and investment team of more than 30 professionals. As of December 2023, GWM Group manages approximately EUR2.4 billion in assets.

GWM - which has signed lock-up agreements like the other relevant shareholders - and Lemon are considering a future collaboration, the terms of which are still being studied, to support the company's strategic directions and, in particular, the development of medium-sized photovoltaic power plants for sale to the grid.

Maria Laura Spagnolo, president and Co-CEO, and Danilo Palazzolo, co-CEO and CFO of Lemon Sistemi, said, "We are very proud that the GWM Group has decided to participate in the Lemon Sistemi project. We believe that GWM's entry into our shareholder base will provide a significant boost for what is needed for the future: producing clean energy. Creating value for our shareholders has always been a priority for us."

"Our shareholder base is enriched by an additional institutional investor, which will bring value to future growth plans related to the consolidation of our business and our strong commitment to green energy. The collaboration with an entity of international standing, supports Lemon Sistemi's vision of growth and paves the way for new opportunities in the future."

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.