Austrian gaming equipment supplier Novomatic AG has increased its stake in Australian slot maker Ainsworth Game Technology Ltd, as the former seeks to acquire the shares it does not currently control in Ainsworth.
The Novomatic group and its founder and owner, Johann Graf, now control 55.2 percent of Ainsworth’s shares, up from a 52.9-percent stake, according to a Wednesday filing by Ainsworth.
The increase was effected via on-market acquisitions of Ainsworth shares in two separate deals on Monday and Tuesday respectively, as per the announcement to the Australian Securities Exchange.
Novomatic last week made an “off market” takeover bid of AUD1.00 (US$0.645) apiece for the shares that it does not currently control in Ainsworth. The Austrian company said the bid was “final” and “unconditional”, and one that would “not be increased”.
On Tuesday, Novomatic and Ainsworth announced the termination of a separate scheme implementation deed, which had been proposed in April. Via the scheme transaction, Novomatic had also intended to acquire the shares it does not currently control in Ainsworth.
In a separate filing on Wednesday, Ainsworth said the Supreme Court in the Australian state of New South Wales had approved the cancellation of a meeting – scheduled for Friday (August 29) – that was due to vote on the scheme transaction.
Novomatic has said that given the “significance” of its stake in Ainsworth, it intends to “take a more active approach to its investment” in the Australian slot maker, “creating greater alignment between the decision-making process and the overall investment”.
