JEP is currently seeking legal advice from its solicitors on the implications of the YG-1 Claim.
The group says that this claim amount will not materially nor adversely affect its financial position taken as a whole.
In May, UMS made a mandatory conditional cash offer for the shares and an unconditional cash offer for the warrants of JEP, after it acquired additional shares in JEP to raise its stake to 38.8%.
Shares in JEP Holdings last traded at 15 cents on Wednesday.
