Both UMS and JEP are controlled by Andy Luong, who holds the chairman and CEO positions at both companies.
UMS Holdings, the controlling shareholder of JEP Holdings, has increased its stake in the subsidiary. On Dec 10, UMS acquired 239,600 shares for $66,788.50, which works out to an average of 27.9 cents each. That brings UMS’s stake in JEP to 297.4 million or 72.01%, from 71.96% previously. On Dec 7, UMS had acquired one million shares for $262,130.
JEP has been buying back shares as well. On Oct 26, it bought back 142,300 shares for 23.207 cents each. Under its current share buyback mandate, JEP has bought back a total of 920,700 shares.
