Release No 9/2010
Affitech Increases Share Capital
- Share capital increased to DKK 243,860,769.50 through an issue of
260,187,010
new shares each of nominal value DKK 0.50
- The subscription price of DKK 0.60 values the total subscription at DKK
156,112,206.00
- The subscription of new shares is without pre-emption rights for the
existing
shareholders and all new shares will be taken up by Trans Nova Investments
Limited, Cyprus
- Trans Nova enters a standstill agreement not to increase shareholding for
next
12 months
Copenhagen and Oslo, April 21, 2010
Affitech A/S, (NASDAQ OMX: AFFI), the antibody medicines company, today
announced an increase in share capital as part of the equity investment in
Affitech by Trans Nova Investments Limited.
Increase in Share Capital of the Company
Based on the authorisation provided in article 4 of the Company's Articles of
Association, the Board of Directors has decided to issue 260,187,010 new shares,
each of nominal value DKK 0,50 and, thus, to increase the share capital of the
company to DKK 243,860,769.50. The subscription will be exercised at a
subscription price of DKK 0.60 for each share and the total subscription price
will be DKK 156,112,206.00. The subscription of the new shares is without
pre-emption rights for the existing shareholders and all new shares will be
subscribed for by Trans Nova Investments Limited, Cyprus. The subscription price
will be paid on or before 27 April 2010 following which the share capital
increase will be registered with the Danish Commerce and Companies Agency.
Trans Nova has agreed not to purchase further shares in Affitech for the next 12
months, subject to Trans Nova being granted a dispensation from the obligation
to make a mandatory takeover offer to the other shareholders in Affitech by the
Danish Financial Supervisory Authority.
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| For more information please contact: |
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| |
| Affitech A/S: |
| |
| Dr Robert Burns, Chief Executive Officer, |
| Tel # +45 50 99 76 42 |
| Randi Krogsgaard, Corporate Communications |
| Tel # +45 23 10 10 01
|
| Randi@affitech.com |
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About Affitech
Affitech AS is a publicly traded (NASDAQ OMX Copenhagen exchange) human
therapeutic antibody company headquartered in Copenhagen, Denmark with R&D
facilities in Oslo, Norway. The company utilizes a range of proprietary antibody
technologies for the discovery of fully human antibodies for application in
oncology, inflammation and other disease areas. CBAS™ (Cell Based Antibody
Selection) is Affitechs premier discovery engine for the isolation of lead
antibodies to cell surface molecules in situ. Several of the Company's
proprietary product candidates were generated by CBAS™. Further information is
available at www.affitech.com.
Disclaimer
This news release contains forward-looking statements and forecasts
based on uncertainty, since they relate to events and depend on circumstances
that will occur in the future and which, by their nature, will have an impact on
results of the financial condition and operations of Affitech A/S. There are
many factors that could cause actual results and developments to differ
materially from those expressed or implied by these forward-looking statements
and forecasts. These factors include, among other things, risks associated with
technological development, the risk that research & development will not yield
new products that achieve commercial success, the impact of competition, the
ability to transact viable and profitable commercial deals, the risk of
non-approval of patents not yet granted, and difficulties of obtaining relevant
governmental approvals for new products.
No expressed or implied representations or warranties are given concerning
Affitech A/S or the accuracy or completeness of the information provided herein,
and no claims shall be made by the recipient of this news release by virtue of
the information contained herein.