PMI Gives Update on Medicago Holding

Source from:  Tobacco Reporter 12/14/2010

Philip Morris International said on Friday that its investment in Medicago, which was formerly held by Philip Morris Participations, is now held by Philip Morris Investments, a wholly owned indirect subsidiary of PMI. The current holding of Philip Morris Investments in Medicago remains unchanged at 45,000,000 common shares, representing 32.86 per cent 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 its largest shareholder. PMI said it might, 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's common shares. Enditem