NEW YORK, October 28, 2010 – Philip Morris International Inc. (NYSE / Euronext Paris: PM) 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 Inc. Profile
Philip Morris International Inc. (PMI) is the leading international tobacco company, with seven of the world’s top 15 brands, including Marlboro, the number one cigarette brand worldwide. PMI’s products are sold in approximately 160 countries. In 2009, the company held an estimated 15.4% share of the total international cigarette market outside of the U.S., or 26.0% excluding the People’s Republic of China and the U.S. For more information, see www.pmi.com.
PMI is the world’s leading international tobacco company, with six ot the world’s top 15 international brands and products sold in more than 180 markets. In addition to the manufacture and sale of cigarettes, including Marlboro, the number one global cigarette brand, and other tobacco products, PMI is engaged in the developement and commercialization of Reduced-Risk Products (RRPs). RRPs is the term PMI uses to refer to products with the potential to reduce individual risk and population harm in comparison to smoking cigarettes. Through multidisciplinary capabalities in product development, state-of-the-art facilities, and indusrty-leading scientific substantiation, PMI aims to provide an RRP portfolio that meets a broad spectrum of adult smoker preferences and rigorous regulatory requirements.