Altria Group, Inc. Announces Effectiveness of the Form 10 Registration Statement of Philip Morris International Inc.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Regulatory News: Altria Group, Inc. (NYSE NYSE See: New York Stock Exchange : MO) today announced that, in connection with its proposed spin-off of Philip Morris International Philip Morris International, (PMI) based in Lausanne, Switzerland, held a 15.5% share of the international cigarette market in 2005. Its brands, led by Marlboro and L&M, are sold in over 160 countries around the world. Inc. (PMI See Private Mortgage Insurance. ), the Securities and Exchange Commission (SEC) has declared effective PMI's Registration Statement on Form 10. As previously announced on January 30, 2008, the Board of Directors of Altria Group, Inc. (Altria) authorized the spin-off of 100% of the shares of PMI to Altria's shareholders. The distribution will be made on March 28, 2008, to Altria's shareholders of record as of 5:00 p.m. New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. Time on March 19, 2008 (the "record date"). Altria will distribute one share of PMI stock for every share of Altria common stock outstanding at 5:00 p.m. New York City Time on the record date. An Information Statement with details about the PMI spin-off will be mailed to shareholders as of the record date. Additional information including answers to frequently-asked questions (FAQs) are available on Altria's investor website at www.altria.com/pmispinoff. The New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (NYSE) has authorized the listing of PMI common stock on the NYSE. The stock will trade on the NYSE under the symbol "PM" following the spin-off. Altria has received a private letter ruling from the U.S. Internal Revenue Service (IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. ) and an opinion of counsel that the distribution of PMI common stock to Altria shareholders qualifies as a tax-free distribution for U.S. federal income tax purposes. Non-U.S. shareholders may be subject to tax on the distribution in jurisdictions other than the U.S. It is extremely important that shareholders consult their tax advisors regarding the particular consequences of the distribution in their situation, including the applicability and effect of any U.S. federal, state, local and foreign tax laws. Registered Altria shareholders in the U.S. and Canada will receive a statement from Computershare Trust Company (Computershare), the distribution agent, reflecting ownership of shares of Altria and PMI. For additional information, registered shareholders in the U.S. and Canada should contact Computershare by email at altria@computershare.com or by phone at 1-866-538-5172. Registered shareholders outside the U.S. and Canada should call 1-781-575-3572. Holders of Altria shares through a broker, bank or other nominee will have their brokerage account Brokerage Account An arrangement between an investor and a licensed brokerage firm that allows the investor to deposit funds with the firm and place investment orders through the brokerage, which then carries out the transactions on the investor's behalf. electronically credited with the shares of PMI. For additional information, these holders should contact their financial institution directly or call D.F. King & Co. at 1-800-290-6431. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion