SEATTLE, Sept. 06, 2022 (GLOBE NEWSWIRE) — Melinda French Gates announced today that she is no longer the beneficial owner of more than 10% of the outstanding Common Shares of Canadian National Railway Company (“CN”).
Ms. French Gates had previously disclosed that she directly owned 15,328,169 Common Shares and that she may be deemed to share beneficial ownership over 54,826,786 Common Shares held by The Bill & Melinda Gates Foundation Trust (the “Trust”), of which she is co-Trustee. Together, these holdings aggregated 70,154,955 Common Shares, or 10.1% of the issued and outstanding Common Shares at the time of the report. Since the prior report, Ms. French Gates has made a gift of 2,435,000 shares to a private charity of which she is the sole director and that charity has disposed of 1,858,426 of such shares in open market transactions. Following the activity described above, Ms. French Gates directly owns 12,893,169 Common Shares, may be deemed to beneficially own 576,574 shares directly owned by the private charity and the 54,826,786 Common Shares held by the Trust. Together, these holdings aggregate 68,296,529 Common Shares, or 9.99% of the issued and outstanding Common Shares. As a result, Ms. French Gates is no longer subject to ongoing early warning or insider reporting requirements in respect of its ownership of Common Shares.
CN’s head office is located at 935 de La Gauchetière Street West, Montréal, Québec H3B 2M9. The business address for Ms. French Gates is 500 5th Avenue North, Seattle, Washington 98109, USA.
The issuance of this news release is not an admission that any person or entity named in this release owns or controls any described securities or is a joint actor with any other named person or entity.
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