ENN Energy proposes privatization, delisting, and H-share issuance

** ENN Energy Holdings (HKEX: 2688) announced a pre-conditional proposal for privatization via a scheme of arrangement, alongside its intent to withdraw its listing from the Hong Kong Stock Exchange and a plan for the resumption of trading. ENN Natural Gas Co., Ltd. (ENN-NG), the parent company, is offering ENN shareholders a dual consideration: 2.9427 newly issued shares of ENN-NG and HK$24.50 in cash for each ENN share held. The proposed cancellation consideration of HK$80.00 is a premium of 47.60% over the last undisturbed closing price.