CTF Services Limited — M&A Activity 2000

Jan 14, 2000

Listed Company Information

PACIFIC PORTS<659> - Announcement The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. Pacific Ports Company Limited (Incorporated in Bermuda with limited liability) ACQUISITION OF ALL PORT AND PORT-RELATED INVESTMENTS OF NEW WORLD INFRASTRUCTURE LIMITED (MAJOR AND CONNECTED TRANSACTION), WAIVER FROM THE OBLIGATION ARISING UNDER THE TAKEOVERS CODE TO MAKE A MANDATORY GENERAL OFFER, INCREASE IN SHARE CAPITAL, AMENDMENTS TO THE BYE-LAWS AND GENERAL MANDATES TO ISSUE AND REPURCHASE SECURITIES On 23rd December, 1999, the directors of Pacific Ports Company Limited (the `Company') and New World Infrastructure Limited (`NWI') jointly announced that they had entered into the Sale and Purchase Agreement dated 23rd December, 1999. In view of the scale and complexity of the transaction, it will take more than 21 days to have all the required financial information ready for inclusion in the Circular in relation to the transaction. It is expected that the dispatch of the Circular in relation thereto will be deferred to a date no later than 21st January, 2000. This announcement is made further to the announcement of, amongst others, the Company of 23rd December, 1999 (the `Announcement'). Unless otherwise stated herein, terms defined in the Announcement shall have the same meanings used herein. The Company stated in the Announcement that a circular containing details of, inter alia, the Acquisition, the Whitewash Waiver and a notice of a special general meeting of the Company (the `Circular') would be dispatched to Shareholders as soon as practicable. Under Rules 14.13(2) and 14.29(2) of the Listing Rules and Rule 8.02 of the Takeovers Code, the Circular should be dispatched to Shareholders on 13th January, 2000, being 21 days after publication of the Announcement. In view of the scale and complexity of the transaction, it will take more than 21 days to have all the required financial information ready for inclusion in the Circular. The Company has made an application to the Stock Exchange and the Executive for deferring the date of dispatch of the Circular to no later than 21st January, 2000. In the event that there would be any change to the schedule as aforesaid, the Company will make a further announcement. By Order of the Board of Pacific Ports Company Limited Wong Wing-Lun, Alan Company Secretary Hong Kong, 13th January, 2000 The directors of PPC jointly and severally accept full responsibility for the accuracy of the information contained in this announcement and confirm, having made all reasonable enquiries, that to the best of their knowledge, their opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any of their statements in this announcement misleading.