Detailed Dealings

• Date of Transactions: 23 February 2026
• Nature of Dealings: Hedging of Delta 1 products created as a result of wholly unsolicited client-driven orders. This means the trades were not initiated by Morgan Stanley for proprietary purposes but to hedge exposures arising from client orders.
• Transactions:
  • Purchase: 12,000 ordinary shares
    Total amount paid: \$109,381.13
    Price per share: \$9.1151 (both highest and lowest)
  • Sale: 188,000 ordinary shares
    Total amount received: \$1,711,100.00
    Price per share: Highest: \$9.2400, Lowest: \$9.0500

Potential Price Sensitive Information for Shareholders

• Large Volume Transaction: The sale of 188,000 shares (against a purchase of only 12,000 shares) by a major financial institution could signal significant movements or changes in sentiment, especially as it relates to hedging activity driven by client orders. Such a sale may exert downward pressure on the share price in the short term.
• Mandatory General Offer Implications: The disclosure hints at the possibility of a mandatory general offer, which is a regulatory trigger that can lead to a buyout or takeover scenario. Shareholders should closely monitor further announcements as this could lead to a premium being offered on shares or a major shift in the company’s ownership structure.
• Price Range Details: The shares involved were traded in the range of \$9.0500 to \$9.2400, which provides a recent reference point for investors regarding market activity and liquidity.
• Dealings for Own Account: Morgan Stanley & Co., International plc executed these trades for its own account, suggesting the institution’s direct exposure and positioning in the stock, even if driven by client hedging needs.

What Should Investors Do?

• Monitor Further Announcements: Investors should stay alert for any updates about a mandatory general offer, as this can significantly impact share valuations and trading strategies.
• Assess Impact of Hedging Activity: The large-scale sale may affect short-term price movements; investors may want to evaluate the current liquidity and trading volumes.
• Consider Ownership Structure Changes: If a general offer is triggered, it could result in a change in control that may affect future prospects and valuation.

Conclusion

The reported dealings by Morgan Stanley & Co., International plc represent a noteworthy event for shareholders of Bright Smart Securities & Commodities Group Limited. The scale and nature of these transactions, combined with the potential for a mandatory general offer, suggest that investors should remain vigilant and prepared for possible share price movements. Any developments regarding a takeover or buyout could have material impacts on shareholder value.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult with professional advisors before making any investment decisions. The information provided is based on public disclosures and may be subject to further updates.

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