Accrelist controls 53.31% of Jubilee Industries, an electronics manufacturer that is separately listed. In the most recent 1HFY2023 ended Sept 30, 2022, Accrelist says that two of its business units, electronics and mechanical, suffered from lower revenue because of lockdowns in China and broader geopolitical uncertainties.
Terence Tea, executive chairman and managing director of Accrelist, has been buying back shares of his company on the open market. The most recent transaction filed was on Feb 10, when he acquired 100,000 shares at $4,826.
The purchase brings his direct holdings to around 67.5 million shares, equivalent to 22.22%. In addition, he holds a deemed stake of another 2.4 million shares. In total, Tea has an interest of 69.8 million shares, equivalent to 23% of the company. Earlier on Feb 1, Tea had bought another 100,000 shares for $4,778; on Jan 30, another 100,000 shares for $4,898.
