Kjerulf Ainsworth, a son of the founder of Australia-listed slot machine maker Ainsworth Game Technology Ltd, has extended by a week, to January 30, the period for his “proportional offer” for a takeover of 2.9 percent of each existing shareholder’s shares in the company.
That is according to a filing Ainsworth Game Technology lodged with the Australian Securities Exchange (ASX) on Thursday.
In late October, Ainsworth Game Technology said it had received a proportional offer from Kjerulf Ainsworth, for a takeover of 2.9 percent of each shareholder’s shares in the company. Mr Ainsworth said he was offering AUD1.30 (US$0.88) per share.
Ainsworth Game Technology stated at the time that Austrian gaming equipment supplier Novomatic AG – the largest shareholder in the Australian company – did “not intend to accept” that offer from Mr Ainsworth.
Novomatic has proposed a takeover bid for Ainsworth Game Technology, for AUD1.00 per share to acquire all ouststanding shares in the latter that it did not own. The deadline for Novomatic’s takeover bid in the slot maker has been recently extended to January 30 also.
In a December 31 statement filed to the ASX, Ainsworth Game Technology reiterated that Novomatic, via its “relevant interest in 65.2 percent of Ainsworth shares” had indicated “it intends to reject the proportional offer”.
But the Australian slot maker also noted that if Ainsworth shareholders other than Novomatic, “accept the proportional offer, KDHA [Kjerulf David Hastings Ainsworth] would acquire a maximum of 2,693,164 of Ainsworth shares under the proportional offer and hold a total of approximately 8.1 percent of Ainsworth shares”.
