Key Securities Dealings in ENN Natural Gas Co., Ltd. Ahead of Privatisation Proposal

Summary of Recent Transactions

On 27 February 2026, a public disclosure was made regarding notable dealings in the shares of ENN Natural Gas Co., Ltd. in the context of an anticipated privatisation by way of scheme of arrangement. The disclosure was submitted in accordance with Rule 22 of the Hong Kong Code on Takeovers and Mergers.

Details of the Transactions

• Party Involved: Morgan Stanley Capital Services LLC, a Class (5) associate connected with the Offeror and ultimately owned by Morgan Stanley.
• Date of Dealings: 26 February 2026
• Type of Securities: Derivatives (other types of products) related to A shares of ENN Natural Gas Co., Ltd., denominated in RMB.
• Nature of Dealings:
  • Unsolicited client facilitation – Purchase: 100 reference securities
  • Unsolicited client facilitation – Sale: 100 reference securities
• Maturity/Closing Out Date: 31 August 2027
• Reference Price: RMB 19.83 per security
• Total Amount Paid/Received: RMB 1,983.00 for each transaction
• Resultant Balance: 0 (no outstanding position after the transactions)

Implications for Shareholders and Investors

Shareholders should note that these transactions were executed by an entity connected with the Offeror. The dealings involved both the purchase and sale of derivatives referencing ENN Natural Gas A shares on the same day and for the same quantity and price, with no net position remaining afterwards.

Price Sensitivity and Potential Impact:

• The transactions were completed as part of unsolicited client facilitation, indicating they were not proprietary trading or speculative positions by Morgan Stanley Capital Services LLC.
• Despite the involvement of a connected associate in the context of a privatisation, the net effect of the trades is neutral (no change in exposure), and thus, the immediate market impact may be limited.
• However, the disclosure of dealings by a connected party during a sensitive period ahead of a privatisation scheme may attract attention from investors, as it could signal activity or sentiment related to the outcome of the transaction and the valuation of ENN Natural Gas Co., Ltd.

Important Notes

• These dealings were executed for the dealer’s own account and not on behalf of the Offeror or in concert with any takeover group.
• The transactions were denominated in RMB and related strictly to A shares.
• The disclosure of such dealings is mandatory under the Hong Kong Code on Takeovers and Mergers and is part of regulatory transparency requirements.

Conclusion

While the disclosed dealings by Morgan Stanley Capital Services LLC do not result in any net exposure and may not be immediately price-sensitive, investors should remain vigilant during the privatisation process of ENN Natural Gas Co., Ltd. Activity by connected parties can reflect underlying sentiment and warrants close monitoring for any further developments that could affect share value.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research or consult a qualified financial advisor before making investment decisions. The information is based on disclosures as of 27 February 2026 and may be subject to change.

View ENN ENERGY Historical chart here