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Latest FueTrek News
Jun 9, 2023
06/09/2023 | 07:38am BST Message : and Dissolution of Capital and Business Alliance with FueTrek GLORY LTD. (the "Company") has entered into the tender offer agreement (the "Tender Offer Agreement") with AI, Inc. ("AI") in order to participate in the tender offer for the common stock of FueTrek Co., Ltd. ("FueTrek") to be conducted by AI (the "Tender Offer"), as announced in the news release of May 11, 2023 entitled "Execution of Tender Offer Agreement for Shares of FueTrek (Securities Code: 2468) and Dissolution of Capital and Business Alliance with FueTrek." It has also entered into the agreement to terminate the capital and business alliance agreement with FueTrek dated September 28, 2018 (the capital and business alliance based thereon hereinafter to be referred to as the "Capital and Business Alliance") subject to the completion of the Tender Offer. The Company hereby announces that it has subsequently tendered its shares to the Tender Offer in accordance with the Tender Offer Agreement and has received a report from AI that the Tender Offer has been completed as of June 8, 2023 and that all shares tendered by the Company would be purchased by AI. On June 15, 2023, i.e., the commencement date of settlement of the Tender Offer, FueTrek will no longer be an equity-method affiliate of the Company, and the Capital and Business Alliance will be dissolved. 1. Outline of FueTrek 0 shares 4. Future Prospects FueTrek will no longer be an equity-method affiliate of the Company as of June 15, 2023, i.e., the commencement date of settlement of the Tender Offer. The financial impact of this transaction on the Company's consolidated accounts for FY2023 is expected to be minimal as stated in the news release of May 11, 2023 entitled "Execution of Tender Offer Agreement for Shares of FueTrek (Securities Code: 2468) and Dissolution of Capital and Business Alliance with FueTrek " announced on May 11, 2023. The Company will promptly announce if any material impact on the forecast of such accounts requiring disclosure occurs. # # # About GLORY LTD. GLORY LTD., headquartered in Himeji, Japan, is a pioneer in the development and manufacture of money handling machines and systems. GLORY provides a variety of products such as money handling machines, cash management systems, vending machines, automatic service equipment, and cash management solutions that are built on its leading-edge recognition/identification and mechatronics technology. Committed to meeting society's wide-ranging needs, GLORY serves the financial, retail, vending machine, amusement and gaming industries in over 100 countries with 11,000 employees worldwide. For more information, please visit the GLORY Group website at https://corporate.glory-global.com/ Contact:
FueTrek has made 5 investments. Their latest investment was in Yukai Engineering as part of their Series A on March 3, 2020.
FueTrek Investments Activity
FueTrek Partners & Customers
4 Partners and customers
FueTrek has 4 strategic partners and customers. FueTrek recently partnered with Yukai Engineering on July 7, 2019.