JEP, which operates mainly out of Seletar Aerospace Park, is a solution provider of precision machining and engineering services, with a primary focus on the aerospace industry.
After the close of the offer on 24 June 2019, UMS and concert parties controlled 47.4% of JEP, including acceptances received for the offer. (However, the Offer did not become unconditional).
Following that, two JEP executive directors bought JEP stock for their own account from the open market.
Their average price: 14.8 cents apiece, which was lower than UMS' 15.0 cent takeover offer price: Recently, UMS Holdings made a mandatory conditional cash offer for all the issued and paid-up ordinary shares in the capital of JEP Holdings.
JEP insider |
Date |
No. of Shares |
Cost |
Latest holding |
Stake |
Zee Hoong Huay (exec director) |
10 Jul |
500,000 |
S$74,000 |
61,054,855 |
15.01% |
09 Jul |
500,000 |
S$74,000 |
|||
Andy Luong |
09 Jul |
600,000 |
S$88,800 |
159,929,983* |
39.34%* |
* Andy Luong holds a 20.67% stake in UMS Holdings, which holds 39.19% of JEP Holdings. |
See also: JEP: Look out for sweeping changes under Andy Luong
Some investors have pointed out that well-regarded Pheim Asset Management has accumulated two Singapore stocks in its Pheim Emerging Companies Balanced Fund. here. To know more about these 2 stocks, see our recent articles: iX BIOPHARMA: Ready to monetise drug via out-licensing ISDN: Catalysts include organisation streamlining, hydropower earnings |