October 29, 2010 - Philip Morris International Inc. announces that following the expiry on October 20, 2010 of 45,000,000 common share purchase warrants of Medicago Inc. (“Medicago”) held by Philip Morris Participations B.V. (PMP) a wholly owned indirect subsidiary of PMI, the current holding of PMP in Medicago now consists of 45,000,000 common shares. This represents 32.86% of the issued and outstanding common shares of Medicago, when calculated on a non-fully diluted basis. Based on Medicago’s most recent notification of the total number of common shares issued and outstanding PMI remains the largest shareholder.
PMP acquired the common shares of Medicago in October 2008 pursuant to a subscription agreement. The acquisition was made in support of PMI’s R & D objectives. PMP may, subject to market conditions and in accordance with applicable securities laws, make additional investments in or dispositions of securities of Medicago, including additional purchases of Medicago common shares. (Philip Morris International buys shares in biotechnology company - Medicago..)
Reference: Philip Morris International Update on Its Medicago Inc. Holding, © Business Wire 2010, PR-inside.com, 10/28/2010.