SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Sep 12, 2022

2. SEC Identification Number

147212

3. BIR Tax Identification No.

000-323-228

4. Exact name of issuer as specified in its charter

INTERNATIONAL CONTAINER TERMINAL SERVICES, INC.

5. Province, country or other jurisdiction of incorporation

Manila, Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

ICTSI Administration Building, Manila International Container Terminal, South Access Road, Manila Postal Code 1012

8. Issuer's telephone number, including area code

+63 2 82454101

9. Former name or former address, if changed since last report

Not Applicable

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Stock Outstanding (Current)	2,035,640,949

11. Indicate the item numbers reported herein

9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

International Container Terminal Services, Inc.ICT

PSE Disclosure Form 4-2 - Acquisition/Disposition of Shares of Another Corporation
References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Sale of shares of Hijo International Port Services, Inc. (HIPSI) by ICTSI wholly owned subsidiary
Background/Description of the Disclosure
Earlier today, a wholly owned ICTSI subsidiary, Abbotsford Holdings, Inc. (AHI), confirmed that AHI received an acceptable bank guarantee to cover the balance payment under the Share Purchase Agreement (SPA) it entered into with Hijo Resources Corporation (HRC). In the SPA, AHI sold to HRC 162,500 shares (or 65%) of HIPSI for a total consideration of Php325,000,000.00. After the sale, AHI will no longer be a shareholder in HIPSI.

Date of Approval by Board of Directors	Sep 12, 2022

Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction
The expected market for HIPSI did not materialize.

Details of the acquisition or disposition

Date	Sep 12, 2022

Manner
Sale of shares
Description of the company to be acquired or sold
Hijo International Port Services, Inc. (HIPSI) operates a private commercial port in Barangay Madaum, Tagum, Davao del Norte in the Gulf of Davao, Philippines.

The terms and conditions of the transaction

Number of shares to be acquired or disposed	162,500
Percentage to the total outstanding shares of the company subject of the transaction	65
Price per share	Php2,000.00

Nature and amount of consideration given or received
Php325,000,000.00
Principle followed in determining the amount of consideration
The amount of the consideration was negotiated and determined based on a discounted cash flow method.
Terms of payment
Initial payment of Php95,000,000.00, and the balance in multiple tranches over the next eight (8) quarters, supported by a bank guarantee.
Conditions precedent to closing of the transaction, if any
The usual conditions precedents to closing, applicable in this kind of transaction.
Any other salient terms
None.

Identity of the person(s) from whom the shares were acquired or to whom they were sold

Name	Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates
Hijo Resources Corporation	None

Effect(s) on the business, financial condition and operations of the Issuer, if any
None
Other Relevant Information
-