UMS CEO granted 24.9 million more shares but stakes unchanged at 14.04%

Bonus issue grants one new share per four held.

UMS Integration Limited has disclosed a change in the deemed interest of its Chief Executive Officer, Andy Luong, following the completion of a bonus share issue, according to an SGX filing.

The filing showed that Luong received an additional 24.9 million ordinary shares as a result of the company’s 1-for-4 bonus share issue, under which shareholders were given one new share for every four shares held. No consideration was paid for the new shares.

Luong held 99.76 million shares prior to the bonus issue, representing 14.04% of the company’s issued shares.

His shareholding increased to 124.70 million after the bonus issue, with the percentage ownership remaining at 14.04%, reflecting an equal bonus distribution.

The filing also stated that Luong’s interests are held indirectly through several trusts and nominee accounts, including 71 Trust LLC, UBS AG Singapore, SY Private Trust LLC, CGS International Securities Singapore, and CGS International Nominees Malaysia.

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