SNT Motive to Absorb SNT Robotics... "Strengthening Competitiveness in Robot Business"

Courtesy of SNT Motive [Financial News] Automotive parts manufacturer SNT Motive will absorb and merge its subsidiary, SNT Robotics. SNT Motive announced on the 1st that it held a board meeting at its headquarters in Busan and approved the merger plan with SNT Robotics.
Since SNT Motive holds all of SNT Robotics' total issued shares, this merger will proceed as a non-capital increase merger without issuing new shares.
The merger ratio was calculated at 1 to 0.
The company explained that the process is proceeding in accordance with the small-scale merger procedures under the Commercial Act, meaning the procedure is completed solely through board approval without the need for shareholder approval, and that shareholders opposing the merger are not granted the right to demand the purchase of their shares.
An official from SNT Motive stated, "We plan to strengthen the competitiveness of our robot business and enhance operational efficiency at the corporate level by combining SNT Motive's technologies in precision manufacturing, motors, drives, and robot actuators with SNT Robotics' capabilities in developing finished robot products," adding, "In the mid-to-long term, this will also contribute to enhancing corporate and shareholder value.
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[email protected] Kwon Byeong-seok Reporter