On 21 January 2026, a disclosure of dealings in the securities of ANE (Cayman) Inc. was made in connection with its proposed privatisation by way of a scheme of arrangement under the Hong Kong Code on Takeovers and Mergers. The Executive received a report pursuant to Rule 22, revealing several unsolicited client facilitation derivative transactions executed by Morgan Stanley Capital Services LLC on 20 January 2026.

Morgan Stanley Capital Services LLC, a Class (5) associate connected with the offeror, reported sales and purchases referring to a total of 1 share (maturing on 31 July 2026 at a reference price of US$12.09), 1,000 shares (maturing on 13 November 2026 at US$12.1350), and 2,000 shares (maturing on 19 May 2027 at US$12.1325). Each sale and purchase transaction had a matching number of reference securities, the same maturity date, and a total resultant balance of zero, with amounts paid or received corresponding to the reference prices. Morgan Stanley Capital Services LLC is ultimately owned by Morgan Stanley.