On the other hand, Kum, who holds his interest via an entity called Saeed Investment, now controls 75.1% of the company, up from just over 50%.
Michael Kum, non-executive chairman of Atlantic Navigation, has raised his stake in the company by buying over $13 million worth of shares at 10 cents each via a married deal with CEO Bill Wong.
With 130 million changing hands, Wong, who founded the company, has cut his direct stake from 31.8% to 7.0%. He holds another deemed interest of 6.4%.
