Novomatic Plans to Obtain the Remaining Shares of Ainsworth Game Technology

Decision Regarding a Complete Buyout

A stakeholder vote concerning the full acquisition is set for August 29th. The Austrian company presently holds 52.9% of AGT assets and plans to obtain the remaining part.

Timeline of important events related to the agreement:

1. Starting point. The partners commenced their cooperation back in 2016, when Novomatic acquired a controlling stake following a contract with Len Ainsworth, the Australian brand’s founder.
2. Plans for a complete takeover. In April 2025, intentions to acquirethe remaining shares through a Scheme of Arrangement were revealed, with a proposition of AUD 1 per unit. This figure corresponds to a 35% premium on the closing asset price as of the date prior to the deal announcement.
3. Pushback and concerns. AGT’s primary stakeholder and the founder’s son, Kjerulf Ainsworth, has requested a reassessment with increased transparency. He regarded the deal’s terms as unappealing, asserting that the suggested amount is too low. His demands include complete access to the calculation method employed by independent specialists.

Lonergan Edwards & Associates, a trustworthy organisation specialising in estimations, carried out the asset evaluation.

Novomatic’s Response to Resistance

The Austrian enterprise holds its ground and insists on its offering, emphasising that shareholders possess all essential data to make a well-informed decision and sees no reason to reconsider the cost.

Stefan Krenn, a representative of Novomatic’s Executive Board, states that AGT’s team received an adequate proposal, as confirmed by a specialised organisation. Experts from this agency estimated the asset value to be between AUD 0.93 and AUD 1.07 per share, and the offer of AUD 1 aligns perfectly with these metrics.

Furthermore, Ainsworth’s Independent Board Committee unanimously endorsed the proposed price. Consequently, Novomatic’s team does not intend to augment the bid. The policies of the Austrian corporation remain transparent and consistent.

The situation is quite challenging for AGT due to the absence of competitive propositions since the April announcement. This scenario could result in a lower final price if the current deal is terminated.

Shareholders have 2 choices:

• accept Novomatic’s offering and fully integrate into its global operational ecosystem;
• dismiss the proposal and maintain partial control over the firm, which risks a decrease in the asset value.