UC Asset confirms that its management team, as a whole, have been buying more amount of its own shares than selling, in the past 6 months. The announcement is made in response to a number of requests by its shareholders regarding the recently filed Form-4 by its founder Larry Xianghong Wu, which shows that Mr. Wu has sold a net of 5,000 shares of UCASU common units in the past 6 months.
“Overall, members of our management team, including Mr. Wu, have bought more shares than sold, in the past 6 months,” says Greg Bankston. “However, purchases made by other management members haven’t reached the minimum requirement of disclosure, and therefore no other Form-4s have been filed. Their positions will be reported in our next annual filing 10-K.”
“Mr. Wu sold those shares for personal financial needs. The sold amount accounts for less than 3% of his total holding. In other words, Mr. Wu still holds 97% of the shares he owns. At this moment, as far as I know, Mr. Wu has no intention to sell more shares. Neither I, nor Mr. Wu, have any intention to sell significant amount of our holdings in the next 6 months,” says Bankston.
About UC Asset LP
UC Asset LP is a limited partnership formed for the purpose of investing in real estate with innovative strategies, concentrating in metropolitan areas of Atlanta, GA. For more information about UC Asset, please visit: www.ucasset.com
For More Information Contact:
Christal Jordan | Executive Director, UC Asset LP
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