ENN Natural Gas | Morgan Stanley Discloses Net Purchase of 800 A-Share-Linked Derivatives in Privatisation Context

Bulletin Express
06/11

On 11 June 2026 the Executive received a Rule 22 disclosure under the Hong Kong Code on Takeovers and Mergers concerning the proposed privatisation of ENN Natural Gas Co., Ltd. The filing details the trading activity of Morgan Stanley & Co. International plc (a Class (5) associate of the offeror) in ENN Natural Gas A-share-linked derivatives on 10 June 2026. All transactions were executed in renminbi for Morgan Stanley’s own account as unsolicited client-facilitation trades.

Key transaction data 1. Purchases • Total reference securities acquired: 2,802 units • Aggregate consideration: RMB50.63 thousand • Average reference price: RMB18.07 per unit

2. Sales • Total reference securities disposed: 2,002 units • Aggregate proceeds: RMB36.18 thousand • Average reference price: RMB18.08 per unit

Net position after the day’s activity • Net increase: 800 reference securities • Net cash outflow: approximately RMB14.45 thousand

All contracts are derivative instruments with maturities ranging from 30 September 2026 to 9 March 2028. Each individual trade shows a resultant position of zero, indicating same-day closing of respective positions, consistent with client-facilitation dealing.

Corporate context The disclosure forms part of the ongoing privatisation process of ENN Natural Gas via a scheme of arrangement. Morgan Stanley & Co. International plc, ultimately owned by Morgan Stanley, is categorised as a connected associate to the offeror and therefore subject to the Takeovers Code dealing disclosure requirements.

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