Pakistan International Container Terminal Limited’s interest to acquire shares

Karachi: Pursuant to Regulation 5(1) (a) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2008 we are required to inform you when a firm intention to acquire shares in PICT beyond the prescribed thresholds is notified by an Acquirer to PICT’s board of directors.

Accordingly, we wish to inform you that on 6 March, 2012 we have received the attached letter dated 6 March, 2012 from Citibank NA. Pakistan, acting as manager to the offer on behalf of ICTST Mauritius Limited (“ICTSI”), a company organized under the laws of Mauritius, notifying us of ICISI’s proposed acquisition of up to 55% of the voting shares in PICT (representing 60,034,234 ordinary shares of PICT).

Public announcement of intention to acquire 35% to 55% of the voting shares of the Pakistan International Container Terminal Limited (the “Target”) by ICTSI Mauritius Limited, a wholly-owned indirect subsidiary of International Container Terminal Services, Inc., a company organised under the laws of Mauritius (“ICTSI” or the “Ultimate Acquirer”), under the Listed Companies (Substantial Acquisitions of Voting Shares and Take-overs) Ordinance, 2002 (the “Ordinance”).

Pursuant to regulation 6 (2) of the Listed Companies (Substantial Acquisitions of Voting Shares and Take-oven) Regulations, 2008, we enclose for your attention a copy of the public announcement of intention, which shall be published on 09 March 2012, in connection with the proposed acquisition mentioned above. Citibank N.A. Pakistan is manager to the offer in respect of the proposed acquisition mentioned above.

Disclosure of public announcement of intention to acquire 35% to 55% of voting shares or control of the Pakistan International Container Terminal Limited (the “Target”) by ICTSI Mauritius Limited, under the Listed Companies (Substantial Acquisitions of Voting Shares and Take-overs) Ordinance, 2002.

We refer to the proposed acquisition mentioned above in respect of which Citibank N.A. Karachi, has been appointed manager to the offer. The draft of the public announcement of intention, which we intended published in newspapers on March 9, 2012, is enclosed.

Please submit such draft, pursuant to Regulation 6 (2) of the Listed Companies (Substantial Acquisition of Voting Shares and Take-overs) Regulations, 2008, to the Securities and Exchange Commission of Pakistan, the Target and the Karachi Stock Exchange at least two (2) working days before its intended publication and inform us when the submission is made. Please provide us copies of any communication that may be received in reasons to such submission.

For more information, Contact:
Pakistan International Container Terminal Limited
2nd Floor, Business Plaza,
Mumtaz Hassan Road,
Karachi74000, Pakistan
Tel: (+9221) 32400450-3,
Fax: (+9221) 32400281
Website: www.pict.com.pk
E-mail: info@pict.com.pk

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