Morgan Stanley & Co., International plc, a Class (5) associate connected with the Offeror, disclosed two transactions involving the shares of ANE (Cayman) Inc. On 23 December 2025, the firm purchased 2,500 ordinary shares for a total of $29,569.50 and sold 29,000 ordinary shares for a total of $343,014.50. Both transactions were carried out as part of hedging activities related to Delta 1 products created from wholly unsolicited client-driven orders.
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