SYDNEY, AUSTRALIA – Kjerulf Ainsworth has announced an AUD$1.30/share proportional takeover bid to acquire 2.9% of Ainsworth Game Technology (ASX: AGI) – a 30% premium to the existing unconditional AUD$1/share offer by majority shareholder Novomatic AG.
Mr. Ainsworth said if all shareholders accepted his offer (which is for 2.9% of the holding of each other AGI shareholder), his relevant interest in the company would rise from 7.27% to 9.9% and remain below the 10% threshold that would trigger potential regulatory complications under gaming license rules.
“While currently constrained by regulatory requirements that delays me from owning 10% or more of AGI, I believe that shareholders deserve to have access to an alternative offer that better reflects the real value of AGI,’’ Mr. Ainsworth said in a letter to shareholders.
The $1.30 a share offer represents a 28.7% premium to AGI’s closing price on 21 October 2025 and a 24.1% premium to the volume weighted average price of AGI shares over the 30 trading days ending 21 October 2025.
In a letter to the company, Mr. Ainsworth said he would consider making further proportional takeover offers in the future, depending on acceptance levels, market conditions and ongoing assessment of AGI’s strategic direction, though there was no certainty further offers would be made.
“The offer represents an opportunity for shareholders of AGI to realize cash at a significant premium for a portion of their AGI shares,’’ he said.
Mr. Ainsworth will request a 12-month seat on the AGI board, should one become available.
“This offer demonstrates that I have a long-term interest in the future of Ainsworth Game Technology and am prepared to invest to ensure the company is successful,’’ he said.
Majority shareholder Novomatic AG has increased its shareholding from 52.8% of the company to 61.5% after announcing its unconditional cash takeover offer of $1.00 a share for the remaining minority shares.
A bidder’s statement containing full details of the offer and instructions for shareholders will be distributed within two months.
