ENN Energy privatization update: regulatory approvals pending, share dealings reported

ENN Natural Gas Co., Ltd. (ENN-NG) and Xinneng (Hong Kong) Energy Investment Limited (the offeror) provided a monthly update on their pre-conditional proposal to privatize ENN Energy Holdings Limited (ENN) via a scheme of arrangement and withdraw its listing. While Pre-Condition (d) regarding ENN-NG Independent Shareholders' approval was fulfilled on May 28, 2025, Pre-Conditions (a), (b), and (c) related to regulatory filings, registrations, and approvals in the PRC and from the Hong Kong Stock Exchange and CSRC, are still pending.

Shareholders are advised that the proposal's implementation, the scheme's effectiveness, and the listing's completion remain subject to the satisfaction or waiver of these pre-conditions by the Scheme Long Stop Date. Consequently, the proposal may or may not proceed, and investors are cautioned to exercise prudence when dealing in ENN-NG and ENN securities.

In related dealings, Morgan Stanley & Co., International plc, a Class (5) associate of the offeror, reported transactions in ENN Energy Holdings shares on September 19, 2025. These included a purchase of 152,500 ordinary shares for $9,714,250.00 and sales totaling 220,909 ordinary shares for $14,164,443.25, attributed to hedging Delta 1 and equity-related products from unsolicited client-driven orders.