ENN Energy privatization update: regulatory approvals pending

ENN Natural Gas Co., Ltd. and Xinneng (Hong Kong) Energy Investment Limited are moving forward with a conditional proposal to privatize ENN Energy Holdings Limited and delist it. The proposal's completion depends on satisfying several pre-conditions, including regulatory filings and approvals in the PRC and from the Hong Kong Stock Exchange. As of November 24, 2025, pre-conditions (a), (b), and (c) related to regulatory filings, Listing Committee approval, and CSRC approvals still need to be fulfilled. Pre-condition (d), requiring shareholder approval, was satisfied on May 28, 2025.

ENN Energy Holdings also announced the exercise of 103,750 ENN share options on November 24, 2025, under its 2012 share option scheme. This exercise led to the issue of 103,750 new ENN shares. Following this, the company's relevant securities in issue include 1,131,443,725 ENN shares, 5,144,076 ENN share options, and 259,000 ENN share awards.

Morgan Stanley & Co., International plc, an associate connected with the offeror, disclosed various dealings in ENN Energy Holdings shares on November 21, 2025. These unsolicited client facilitation transactions, primarily sales and purchases of derivatives, involved reference prices ranging from $68.5925 to $69.2500 for a total paid/received amount of $3,026,225.0000 across multiple maturity dates.