Public Disclosure of Share Dealings in ENN Natural Gas Co., Ltd.

Privatisation Scheme and Disclosure Highlights

On 26 February 2026, a public disclosure was made regarding significant transactions in the shares of ENN Natural Gas Co., Ltd., in the context of a privatisation by way of a scheme of arrangement. The disclosure was submitted in compliance with Rule 22 of the Hong Kong Code on Takeovers and Mergers.

Key Share Dealings

Wang Shihong, identified as a Class (3) associate connected with the Offeror, executed several sales of ENN Natural Gas A shares on 25 February 2026:

• Sold 25,800 shares at \$19.87 per share, resulting in a balance of 58,700 shares (0.0019% of the class).
• Sold 42,300 shares at \$19.86 per share, reducing the balance to 16,400 shares (0.0005% of the class).
• Sold 8,200 shares at \$19.80 per share, leaving 8,200 shares (0.0003% of the class).
• Sold 8,200 shares at \$19.8104 per share, resulting in a zero share balance (0.0000% of the class).

All dealings were made for Wang Shihong’s own account and involved A shares of ENN Natural Gas Co., Ltd., traded in RMB.

Important Note: The fact that a Class (3) associate connected with the Offeror has completely sold out their holdings could be interpreted by investors as a potential signal regarding the privatisation process or the confidence of insiders in the company’s future. Such insider activity is often closely watched and may influence market sentiment and share price movements.

Implications for Shareholders

• The complete divestment by an associate of the Offeror is noteworthy. Shareholders should consider this as a potentially price-sensitive event, particularly in the context of a privatisation scheme.
• The prices at which shares were sold (\$19.80–\$19.87 per share) may provide insight into perceived fair value among connected parties.
• While the holdings and transaction volumes are small relative to the overall class, the status of Wang Shihong as a connected associate makes these transactions relevant for monitoring insider sentiment and privatisation developments.

Investors are advised to pay attention to further disclosures, as insider dealings during a privatisation process can have meaningful implications for the outcome and valuation of shares.

Disclaimer

This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research or consult financial advisors before making investment decisions. The information is based on disclosed regulatory filings and may be subject to further updates or clarification.

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