On 13 November 2025, the Executive received a disclosure related to a proposed privatisation by way of a scheme of arrangement involving Hang Seng Bank Limited. The details, pursuant to Rule 22 of the Hong Kong Code on Takeovers and Mergers, indicate that on 12 November 2025, HSBC Global Asset Management (UK) Limited sold 2,700 shares at HKD152.00 and purchased 300 shares at the same price, resulting in a balance of 1,375,791 shares, representing approximately 0.0733% of the relevant share class.

HSBC Global Asset Management (UK) Limited is identified as a Class (1) associate by virtue of the definition of acting in concert, connected with the offeror, and is ultimately owned by HSBC Holdings plc. The dealings were executed for the account of discretionary investment clients.