Not vested
If I am not wrong Tong Teik could have paid more than $1.25 for some of its shares so Tong Teik is not in coordinated effort else Universal EC Investments would have to revised its offer upwards. Either Tong Teik feels that the price offer at $1.25 is too low or that it wants to block the delisting. One way I guess it is doing it is to make UE E&C share price above $1.25 before UE's EGM so that shareholders of UE might vote against selling.
But I guess it is a futile effort and most likely Universal EC will become the significant shareholder of UE E&C. I doubt Universal EC will upped the price offer. It can dilute the other parties by share options, share buyback and etc once it control the company. Most probably UE E&C share price will hold above $1.25 for a while then drop once the conditional offer by Universal EC is over and delisting is not approved. Unless Tong Teik continues to buy after that period to pop up the price but it would be a futile effort. Throwing good money against bad money without gaining control.