Ainsworth Game Technology Ltd (ASX: AGI), a company specialising in the design, development, and distribution of gaming content and platforms, has released its Target’s Statement in response to the unsolicited proportional off-market takeover bid by Mr Kjerulf David Hastings Ainsworth (KDHA). KDHA is seeking to acquire 2.9% of each shareholder’s ordinary shares at a price of $1.30 cash per share. The Target’s Statement, lodged with the Australian Securities and Investments Commission, is expected to be sent to Ainsworth shareholders on 2 January 2026.
The Independent Board Committee makes no recommendation to shareholders regarding acceptance or rejection of the offer. The committee advises shareholders to consider their own circumstances and the information provided in both the Target’s Statement and the Bidder’s Statement. Ainsworth shareholders should note that Novomatic AG, the largest shareholder, has indicated it does not intend to accept the offer. The Independent Board Committee has recommended, and continues to recommend, that shareholders accept the Novomatic Takeover Offer of $1.00 per Ainsworth Share.
The Target’s Statement outlines key considerations for shareholders, including the premium offered by KDHA, the potential to sequentially accept both the KDHA and Novomatic offers, and the alternative option of selling shares on the ASX. It also details reasons why shareholders may choose to reject the offer, such as potentially delaying their ability to accept the Novomatic Takeover Offer or a desire not to increase KDHA’s influence over the company.
Ainsworth has established a Shareholder Information Line to address queries regarding the Target’s Statement and the Offer. Shareholders within Australia can call 1300 540 303, while those outside Australia can call +61 2 9066 4083, between 9.00am and 5.00pm (Sydney time) on Monday to Friday, excluding public holidays. The Independent Board Committee authorised the release of this announcement.
