News Tag: mfn-ext-nq-company-announcement

Lemonsoft Group’s change negotiations have ended. The objective of the negotiations was to support a more efficient organization of the company's operations, to eliminate overlaps with businesses acquired and to achieve synergy benefits within the group.

Simultaneously, Lemonsoft has decided to move to an industry-driven organizational model on 1 January 2023. The objective of the reorganization is to clarify responsibilities and improve customer service within each industry sector.

As a result of the change negotiations, 7 employees will be terminated. The negotiations included employees of Lemonsoft Oyj, Planmill Oy and Lixani Oy, approximately 130 employees in total, and the personnel reduction need was estimated to be less than 10 employees. Lemonsoft Group had 185 employees in the beginning of the change negotiations.

Lemonsoft Oyj has decided to initiate change negotiations in the Lemonsoft Group in accordance with the Cooperation Act. The objective of the negotiations is to support a more efficient organization of the company's operations, to eliminate overlaps with businesses acquired and to achieve synergy benefits within the group.

In connection with the ongoing strategy update, Lemonsoft is considering moving to an industry-driven organizational model. The goal of the reorganization is to clarify responsibilities and improve customer service within each industry.

The negotiations include employees of Lemonsoft Oyj, Planmill Oy and Lixani Oy. Lemonsoft estimates the personnel reduction need to be less than 10 employees. About 130 employees in Finland are included in the change negotiations. Lemonsoft group employs a total of about 185 people.

Lemonsoft Oyj ("Lemonsoft") renews the group's management team as of November 9, 2022. The new management team consists of the following people and roles:

Kari Joki-Hollanti, CEO
Jan-Erik Lindfors, Deputy CEO
Mari Erkkilä, CFO
Pauli Siirtola, Director of Product Management
Alpo Luostarinen, Director, M&A and IR

Alpo Luostarinen, responsible for mergers and acquisitions as well as investor relations at Lemonsoft, has been appointed to the group's management team as of 9 November 2022. Luostarinen has been working in his role at Lemonsoft since 2021. Prior to this, he has worked in tasks related to M&A, financing and management consulting in various organizations.

Timur Karakan and Janika Vilponen, who previously acted as members of the management team, will continue at Lemonsoft.

CEO Kari Joki-Hollanti: "The implementation of our growth strategy is progressing well. Lemonsoft has grown significantly in recent years both in the number of customers and in the number of personnel. The renewed, more focused management team will focus on achieving Lemonsoft's strategic growth goals both organically and through acquisitions. At the same time, I would like to thank Timur and Janika for their contribution to the management team's work."

Lemonsoft Oyj will publish the following financial information in 2023:

• Financial Statements Bulletin January – December 2022 on Friday 17 February 2023
• Interim Report January – March 2023 on Friday 28 April 2023
• Half-year Report January-June 2023 on Friday 11 August 2023
• Interim Report January – September 2023 on Thursday 26 October 2023

Lemonsoft adheres to a 30-day silent period in its communication with investors and the media preceding the publication of financial information.

The Annual Report for the year 2021 is estimated to be published during week 11.

The Annual General Meeting is planned to be held on Tuesday 4 April 2023. Lemonsoft’s Board of Directors will summon the meeting at a later date.

Lemonsoft Oyj’s (”Lemonsoft”) Annual General Meeting on 5 April 2022 decided to establish a Shareholders’ Nomination Board. The Nomination Board prepares proposals on the election and remuneration of the members of the Board of Directors for Lemonsoft’s Annual General Meeting.

The Nomination Board consists of three members which represent the Company’s three largest shareholders, or the representatives nominated by such shareholders. The Chairman of the Board acts as an expert member of the Nomination Board. The right to nominate members to represent shareholders rests with three shareholders who are registered in the shareholders’ register maintained by Euroclear Finland Ltd or another operator on the last business day of August in the year preceding the Annual General Meeting and who hold the largest number of votes conferred by shares according to the shareholder register.

The following members have been appointed to the Shareholder’s Nomination Board of Lemonsoft Oyj:

– Sandra Backlund, CFO, Rite Ventures 
– Jarmo Kinnunen, lawyer, K&K Laki
– Jonathan Schönbäck, Senior Portfolio Manager, ODIN Fonder
 
At the first meeting, Sandra Backlund was appointed as the Chairman of the Nomination Board.
The Charter of the Nomination Board is available on the company’s investor website.