Trans Nova Investments Limited made a conditional offer to acquire the remaining 59.99% stake in Affitech AS (CPSE: AFFI) from various shareholders for DKK 64.4 million in cash on November 21, 2011. Trans Nova is offering DKK 0.22 for each outstanding share of Affitech. The offer will be fully financed by the offerors own readily available funds. The offer will expire on January 11, 2011. If, upon completion of the Offer, the offeror owns more than 90% of the share capital of Affitech, the offeror intends to request that an extraordinary general meeting of Affitech is convened to elect new members to the Board of Directors of Affitech, request an authorization to the Board of Directors of Affitech from the shareholders at a general meeting of Affitech to apply for a delisting of all Affitech Shares from NASDAQ OMX Copenhagen and initiate a compulsory acquisition procedure according to the Danish Companies Act, section 70 with a view to acquire any remaining Affitech shares not owned by the offeror. The offer is subject to the offeror owning or receiving valid acceptances of the offer, in respect of an aggregate of more than 90% of Affitech's share capital, that Affitech and the Affitech Group as a whole in the period up to completion of the offer continue to carry on its business only in the ordinary course of business, that there is no change in or binding undertaking to amend or change the share sapital of Affitech, that completion of the offer has not been precluded or materially obstructed by new legislation (actual or proposed), court decisions, or decisions by public authorities. The completion of the transaction including settlement of the offer is expected to occur on January 19, 2011. On January 11, 2012, the offer period was extended by 14 days to expire on January 25, 2012. At the expiry of the offer period, Trans Nova received valid acceptances in respect of 31.5% of the shares of Affitech which together with the shareholding currently held by Trans Nova of 40.01% is not sufficient to satisfy the condition for the offer that Trans Nova owns, or has received valid acceptances of the offer, in respect of an aggregate of more than 90% of Affitech's share capital (excluding Affitech's treasury shares, if any) and voting rights in Affitech as of the expiry of the offer period. Berit Kristensen, Jonas Hjorth Jacobsen and Rasmus Laustsen of Handelsbanken Capital Markets acted as financial advisor and Mazanti Andersen Korso Jensen & Partner acted as legal advisor to Trans Nova in the transaction. Trans Nova Investments Limited cancelled the conditional offer to acquire the remaining 59.99% stake in Affitech AS (CPSE: AFFI) from various shareholders on January 27, 2012.