Kjerulf Ainsworth aims to increase his stake in Ainsworth Game Technology through a proportional takeover bid.
Kjerulf Ainsworth, son of company founder Len Ainsworth, is offering shareholders A$1.30 per share to acquire 5.5 per cent of all ordinary shares of Ainsworth Game Technology that he does not currently hold.
The offer price represents a 23.8 per cent premium on the closing price of the company’s shares on 10 March and a 23.5 per cent premium on the volume weighted average price of the shares in the preceding 30 trading days.
The offer price is the same as the A$1.30 per share bid made by Kjerulf Ainsworth in October 2025, as he sought to prevent Novomatic from achieving a shareholding of more than 75 per cent, at which threshold the company would have been delisted from the Australian Stock Exchange.
Novomatic’s takeover bid closed on 6 February with the company holding a 66.84 per cent stake in Ainsworth, while Kjerulf Ainsworth’s rival bid closed on 30 January with a 7.28 per cent stake. Both parties have since increased their stake in the business.
“As with my previous proportional takeover bid which closed on 30 January 2026, the offer will deliver an attractive premium relative to historical trading prices in shares for a portion of each shareholder’s investment in AGI, certainty in value in the form of cash consideration and an additional source of liquidity for shareholders, without the need to incur brokerage costs that would otherwise be payable for any on-market sale,” said Kjerulf Ainsworth in a letter to shareholders on Wednesday.
The new offer is for 5.5 per cent of the holding of each Ainsworth shareholder.
Kjerulf Ainsworth currently holds an 8.17 per cent stake in the company. If all other shareholders accept his latest offer, he will hold approximately 13.25 per cent of the ordinary shares in Ainsworth Game Technology.
Shares in Ainsworth Game Technology Ltd. (ASX:AGI) were trading 2.38 per cent higher at A$1.08 per share in Sydney Thursday.