Morgan Stanley affiliate trades Bright Smart Securities derivatives

Morgan Stanley Capital Services LLC, identified as a Class (5) associate connected with the Offeror, disclosed multiple dealings in derivatives relating to Bright Smart Securities & Commodities Group Limited. These transactions, made for its own account and described as "unsolicited client facilitation," occurred on August 26, 2025. The disclosures were made pursuant to Rule 22 of the Hong Kong Code on Takeovers and Mergers, indicating a possible mandatory general offer for the company.

The dealings included both purchases and sales of derivatives referencing Bright Smart Securities shares. Key transactions involved the purchase of 10,000 reference securities with a maturity date of January 30, 2026, at a price of $11.4594, totaling $114,594.00. Another significant purchase involved 74,000 reference securities maturing on January 21, 2027, at $11.6800 per security, amounting to $864,320.00.

Further transactions included the purchase of 102,000 reference securities maturing on November 24, 2025, at $11.5172, totaling $1,174,755.76, and 130,000 reference securities maturing on May 29, 2026, at $11.6800, for $1,518,400.00. The largest disclosed individual transaction involved the purchase of 268,000 reference securities maturing on January 30, 2026, priced at $11.6800, totaling $3,130,240.00. In all reported cases, the resultant balance of shares (or related instruments) held by Morgan Stanley Capital Services LLC or any affiliated person after these dealings was zero.