Key Points from the Public Disclosure Form

• Date of Disclosure: 4 March 2026
• Context: The disclosure relates to the ongoing privatisation of ENN Energy Holdings Limited, being conducted by way of a scheme of arrangement.
• Relevant Party: Morgan Stanley & Co., International plc, identified as a Class (5) associate connected with the Offeror.
• Nature of Dealings:
  • Hedging of Delta 1 Products: These dealings were triggered by wholly unsolicited client-driven orders, indicating no proprietary trading but hedging activity.
  • Ordinary Shares Purchased: 49,100 shares acquired for a total of \$3,479,839.81. The highest price paid was \$71.85 per share, and the lowest was \$69.45 per share.
  • Ordinary Shares Sold: 19,800 shares sold for \$1,396,430.74. The highest price received was \$71.35 per share, and the lowest was \$69.35 per share.
• Ownership Structure: Morgan Stanley & Co., International plc is ultimately owned by Morgan Stanley.

Important Information for Shareholders

• Privatisation Process: The ongoing privatisation by way of scheme of arrangement is a critical corporate event. Such schemes can significantly impact share prices, either through buyout offers or restructuring.
• Dealings by Connected Associates: Morgan Stanley & Co., International plc’s dealings in ENN Energy shares are notable because it is a Class (5) associate connected with the Offeror. This means its trading activity may be closely monitored as part of the privatisation process.
• Volume and Price Range: The reported purchase and sale of a substantial number of shares (49,100 bought, 19,800 sold) within a tight price range (\$69.35 to \$71.85) may be indicative of institutional activity, which can influence market sentiment and price volatility.
• Hedging Activity: The nature of the transactions—hedging Delta 1 products arising from unsolicited client orders—suggests that the activity is driven by client demand rather than proprietary positioning. However, such flows can still impact liquidity and near-term price movement.
• Price Sensitivity: Shareholders should be aware that these reported trades, especially during a privatisation process, could signal underlying demand or supply dynamics and may affect the share value in the short term.

Potential Impact on ENN Energy Holdings Share Price

The disclosure of significant share dealings by a connected associate of the Offeror during a privatisation process is noteworthy for investors. The volume and price range of the trades could influence market perceptions of value and liquidity. Investors should closely monitor further announcements related to the privatisation scheme, as changes in ownership, significant transactions, or corporate restructuring can lead to substantial movements in share price.

Disclaimer

This article is for informational purposes only and should not be construed as financial advice or an investment recommendation. Investors are advised to conduct their own due diligence and consult professional advisers before making any investment decisions.

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