Philip Morris Says Affiliate Purchased 11.3M Shares of Medicago, Shares Represent ~4.13% Stake
Philip Morris International Inc. (NYSE: PM) announced today that Philip Morris Investments B.V. (PM Investments), an affiliate of PMI, as part of the previously announced arrangement of Medicago Inc. (Medicago), made on July 12, 2013, acquired 11,348,266 common shares of Medicago for a consideration of CAD $13,163,989.
The 11,348,266 common shares were acquired pursuant to a prospectus exemption contained in section 2.11 of Regulation 45-106 respecting Prospectus and Registration Exemptions (Québec) and represent 4.13% of the issued and outstanding common shares of Medicago. Following this transaction, the holding of PM Investments in Medicago consists of 109,957,066 common shares representing 40% of all of the issued and outstanding common shares of Medicago. The balance of 164,935,599 common shares of Medicago, representing 60% of all issued and outstanding common shares of Medicago, are owned by Mitsubishi Tanabe Pharma Corporation (MTPC) and one of its subsidiaries.
This most recent acquisition of common shares was made for investment purposes. Until Medicago ceases to be a reporting issuer, PMI may, in accordance with applicable securities laws, make additional investments in, or disposition of, securities of Medicago, including additional purchases of Medicago common shares.
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