TORONTO, July 30 /CNW/ - Patheon Inc. (the "Company") (TSX: PTI), today
announced that it has received a conversion notice dated July 29, 2009 from
JLL Patheon Holdings, LLC ("JLL"), irrevocably electing to convert all of
JLL's 150,000 Class I Preferred Shares, Series C of Company (the "Series C
Preferred Shares") into an aggregate of 38,018,538 Restricted Voting Shares in
the capital of the Company, and surrendering JLL's Series C Preferred Share
Certificate.
JLL subscribed for the 150,000 Series C Preferred Shares on April 27,
2007, and entered into an investor agreement with the Company as of the same
date in connection with the subscription. The rights, privileges, restrictions
and conditions of the Series C Preferred Shares are fully described in the
Company's Articles of Amendment, dated April 26, 2007, and filed on SEDAR on
May 2, 2007. The mandatory redemption provisions of the Series C Preferred
Shares were subsequently waived under an agreement dated September 4, 2008
between JLL and the Company, a copy of which was filed on SEDAR on September
11, 2008.
ABOUT PATHEON
Patheon Inc. (TSX: PTI; www.patheon.com) is a leading global provider of
contract development and manufacturing services to the global pharmaceutical
industry. Patheon prides itself in providing the highest quality products and
services to more than 300 of the world's leading pharmaceutical and
biotechnology companies. Patheon's services range from preclinical development
through commercial manufacturing of a full array of dosage forms including
parenteral, solid, semi-solid and liquid forms. Patheon uses many innovative
technologies including single-use disposables, Liquid-Filled Hard Capsules and
a variety of modified release technologies.
Patheon's comprehensive range of fully integrated Pharmaceutical
Development Services includes pre-formulation, formulation, analytical
development, clinical manufacturing, scale-up and commercialization. Patheon
can take customers direct to clinic with global clinical packaging and
distribution services and Patheon's Quick to Clinic(TM) programs can
accelerate early phase development project to clinical trials while minimizing
the consumption of valuable API. Patheon's integrated network strives to
ensure that customer products can be launched with confidence globally.
%SEDAR: 00001700E
