MIIF

MIIF: to divest its 38% effective interest in Changshu Port (CXP) for $112m, to a wholly-owned subsidiary of Pan-United and Petroships Investment , both of which are existing shareholders of CXP. The divestment price is at a 5.3% premium to MIIF’s valuation of CXP as at 31 Mar 2013 and the divestment will be subject to MIIF shareholders’ approval at a Special General Meeting to be convened in Sep 2013. Upon a successful closure, MIIF plans to distribute net proceeds from the sale to shareholders via a return of capital, estimated at 9.5 cents/share.