I think this is a line of S1 - the language used to design the ICL 2900 series of computers
I = CURRPINST(PROCESS)<<8>>24
no lower case then, and the << operators are shift left and shift-right.
There's an interesting (pdf) article by Martin Campbell-Kelly on the history of mainframe development at ICL here
Maybe the recipe on the other side of the card was more interesting?