Morgan Stanley Bank Cuts ENN Natural Gas (ENN) Derivative Position to Zero in Privatisation Context

Bulletin Express
06/09

Hong Kong, 9 June 2026—Under Rule 22 of the Hong Kong Code on Takeovers and Mergers, Morgan Stanley Bank, N.A. reported a series of derivative transactions in A-shares of ENN Natural Gas Co., Ltd. (abbreviated as ENN). The trades, executed on 8 June 2026 as unsolicited client facilitation, relate to the ongoing privatisation of ENN by way of scheme of arrangement.

Key details are as follows:

• Derivative purchase: 1,600 shares linked to contracts maturing on 26 February 2027 at RMB 19.0725 each, for a notional consideration of RMB 0.03 million.

• Derivative sales: a combined 16,884 shares across three contracts—30 and 54 shares maturing on 9 March 2028 at RMB 19.2100 and RMB 18.8950, respectively, and 16,800 shares maturing on 31 August 2027 at RMB 19.0166—totalling RMB 0.32 million.

• Net effect: a net sale of 15,284 shares and a cash inflow of approximately RMB 0.29 million, leaving Morgan Stanley Bank, N.A. with no remaining derivative exposure to ENN shares.

Morgan Stanley Bank, N.A. is classified as a Class (5) associate of the offeror and executed the trades for its own account. The bank is ultimately owned by Morgan Stanley. All transactions were denominated in renminbi.

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