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FMRC Family Trust completes reorganization of itsholdings of securities of Bellus Health Inc.
CALGARY, June 25 /CNW Telbec/ - This press release is issued by FMRC Family Trust ("FMRC"), as re...
About this update from Bluenergies Ltd.
[{"type":"text","content":"\n\n\n\nCALGARY, June 25 /CNW Telbec/ - This press release is issued by FMRC\nFamily Trust ("FMRC"), as required by Canadian provincial securities\nlegislation. 1324286 Alberta Ltd. ("Alberta"), a wholly-owned subsidiary of\nFMRC (a trust of which Dr. Francesco Bellini, the Chairman, President and\nChief Executive Officer of Bellus Health Inc. ("Bellus"), is a beneficiary)\nowns 50% of the outstanding common shares of Picchio Pharma Inc. ("Picchio").\nPursuant to applicable securities legislation, the trustees of FMRC, Messrs.\nJohn W. Churchill and Vernon H. Strang (the "Trustees"), are deemed to be\njoint actors of FMRC, and the Trustees and FMRC are deemed to be joint actors\nof Alberta. For reporting purposes under the Early Warning System, the\nTrustees are obliged to include the holdings of FMRC and the Trustees and FMRC\nare obliged to include the holdings of Alberta in determining their ownership\nof the securities of Bellus.\n\n\nFMRC announces that on June 25, 2009, Picchio transferred to Alberta\nownership of 5,725,215 common shares of Bellus. These shares were transferred\npursuant to agreements between Picchio and its shareholders, Alberta and\nVictoria Square Ventures Inc. ("VSVI"), under which Picchio agreed to transfer\nto Alberta and VSVI all of the shares of Bellus held, directly or indirectly,\nby Picchio. As a result of such transfers, Picchio does not hold any shares of\nBellus. The 5,725,215 common shares transferred to Alberta represent\napproximately 11.4% of the outstanding common shares of Bellus.\n\n\nFMRC currently owns 256,039 common shares of Bellus representing\napproximately 0.51% of the outstanding common shares of Bellus, and 20,150,000\nSeries A 6% Cumulative Convertible Preferred Shares of Bellus (the "Preferred\nShares"). In the aggregate, the Preferred Shares and the dividends payable on\nsuch Preferred Shares are convertible into 27,032,571 common shares of Bellus,\nwhich would represent approximately 35.1% of the outstanding common shares of\nBellus. The foregoing assumes that the Preferred Shares remain outstanding\nuntil maturity and are converted in full on the basis of one common share for\neach Preferred Share and that all dividends are paid by the issuance of common\nshares at an assumed market price of $0.35 per s...