On 9 February 2026, a privatisation by way of a scheme of arrangement led to a disclosure of dealings in the A shares of ENN Natural Gas Co. Ltd. under Rule 22 of the Hong Kong Code on Takeovers and Mergers. The Executive received information that UBS AG, as an exempt principal trader connected with the offeree company, conducted four separate transactions on 6 February 2026. These included both purchases and sales of ENN Natural Gas Co. Ltd. shares, with trades executed for UBS AG’s own account.

Transaction information shows purchase volumes of up to 259,700 shares and sale volumes of up to 185,600 shares. The highest and lowest prices paid or received in these trades ranged between RMB19.9300 and RMB19.6600, involving total amounts from approximately RMB1.39 million to RMB5.15 million. The hedging activities were reportedly created as a result of wholly unsolicited client-driven orders. UBS AG is ultimately owned by UBS Group AG, and the dealings were carried out in RMB.