Catalist-listed JEP Holdings has received an unconditional cash offer from Mainboard-listed UMS Holdings, after the latter acquired 54.2 million shares in the company’s capital from Zee Hoong Huay for a consideration of $10.8 million, or 20 cents per share.

The number of shares represents around 13.1% of the total number of issued and paid-up shares of JEP Holdings.

The consideration was arrived at on a willing-buyer and willing-seller basis, which also took into account the prevailing market price of the shares.

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