Key Moments
- Kjerulf Ainsworth has launched an off-market offer for 5.5% of Ainsworth Game Technology shares.
- The offer closes on 27 April at 7 pm Sydney time.
- He is offering AUD1.30 per share, above Novomatic’s AUD1.00 bid.
- If accepted, his stake could rise from 8.24% to about 13.25%.
| Event | Date | Details |
|---|---|---|
| Current Offer Deadline | 27 April, 7 pm Sydney time | Off-market bid for 5.5% of AGT shares |
| Prior Ainsworth Offer Closed | 30 January 2026 | Off-market bid for 2.9% of AGT shares |
| Novomatic AG Bid Closed | 6 February | AUD1.00 per share; did not reach 75% ownership |
| Current Ownership (Ainsworth) | As of 27 March | 27.75 million shares (8.24% voting power) |
New Takeover Offer Details
Kjerulf Ainsworth has launched a new bid to increase his stake in Ainsworth Game Technology (ASX:AGI). He aims to buy 5.5% of the company’s shares through an off-market offer. The offer remains open until 27 April at 7 pm Sydney time. However, he may withdraw or extend it.
He is offering AUD1.30 per share. This price is higher than Novomatic AG’s earlier AUD1.00 bid. Moreover, he first announced this proposal on March 11. Therefore, it marks his second attempt to increase ownership.
Shareholding and Voting Power
As of 27 March, Kjerulf Ainsworth holds about 27.75 million shares. This equals 8.24% of voting power. He disclosed this under Australia’s Corporations Act requirements.
In addition, filings show earlier share purchases. These include both on-market and off-market deals. As a result, his position has steadily increased ahead of this offer.
Background: Previous Bids and Shareholder Actions
Earlier, in January, Ainsworth tried to buy up to 2.9% of shares. That offer closed on 30 January 2026. However, it did not significantly change control.
Meanwhile, Ainsworth said the new bid offers strong value. He noted it provides a premium over past trading prices. Therefore, it allows shareholders to sell part of their holdings at higher levels.
Novomatic AG’s Involvement and Outcome
Previously, Novomatic AG launched its own takeover bid. It offered AUD1.00 per share in August 2025. The goal was to gain full control.
However, the bid failed to reach the 75% threshold. It closed on 6 February. Still, Novomatic increased its stake to about 67.4%. As a result, it remains the largest shareholder.
Strategic Moves by Major Shareholders
At the same time, the Ainsworth family has worked to strengthen its position. Kjerulf Ainsworth opposed Novomatic’s bid. He argued the offer undervalued the company.
Now, the new proposal reflects continued competition. If fully accepted, his stake could rise to about 13.25%. Therefore, this move could shift shareholder dynamics.
Recent AGT Board Appointment
Separately, Ainsworth Game Technology has appointed Birgit Wimmer as a non-executive director. This decision takes effect after regulatory approval. She currently serves as a board member at Novomatic.
Chairman Danny Gladstone welcomed the appointment. He highlighted her global gaming experience. However, AGT does not consider her independent due to her Novomatic ties.
Therefore, the company will apply governance safeguards. These measures will manage any conflicts of interest. Meanwhile, Wimmer also holds roles at Novum Swiss AG and Novo Invest GmbH.
- Author
Daniel Williams
