• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Novomatic pledges indy chair, board at Ainsworth

May 30, 2016 Newsdesk Latest News, Top of the deck, World  


Novomatic pledges indy chair, board at Ainsworth

Austrian gaming equipment maker Novomatic AG says if it completes a takeover of Australia-based rival Ainsworth Game Technology Ltd it will support the “immediate appointment” of an independent person to chair the latter’s board. Novomatic would also “ensure the board of directors of Ainsworth Game Technology continues to have a majority of independent directors”, according to a filing on Friday by Ainsworth Game Technology to the Australian Securities Exchange (ASX).

Under a proposal announced on February 23, the privately held Novomatic would acquire 53 percent of Ainsworth Game Technology from Len Ainsworth, that firm’s founder and chairman.

Ainsworth Game Technology said in a filing to ASX on May 23 it had postponed for up to 30 days a meeting at which shareholders would be asked to vote on the takeover. The meeting had been due to take place on June 3.

The delay in the meeting to vote on the deal centres on whether or not shareholding interests associated with the family of Mr Ainsworth might vote en bloc in favour of the deal – potentially to the detriment of other shareholders.

The Australian federal government’s Takeovers Panel had said in a May 16 press release it had received an application on May 13 from the Australian Securities and Investments Commission for the panel to get involved in the planned sale.

In a press statement on May 17, the Takeovers Panel additionally stated that an investment firm called Fortress Centaurus Global Master Fund Ltd had made an application for the panel to get involved in the proposed sale.

Friday’s filing from Ainsworth Game Technology said Novomatic’s undertaking to have an independent person chairing Ainsworth Game Technology’s board – and for that board to continue to have a majority of independent directors – would apply until the end of 2018 or until Novomatic and its associates hold more than 75 percent of the issued shares of Ainsworth Game Technology.

The pledge would not not apply if there were moves from third parties to gain control of Ainsworth Game Technology or any “currently unforeseen circumstance in relation to or affecting Ainsworth Game Technology”, the filing stated.


  • tweet
Related articles
  • Ainsworth back in half-year profit, Asia revenue dips 21pct
    Ainsworth back in half-year profit,...

    Feb 23, 2022  

  • Receivers sell off some Donaco shares held by Lim brothers
    Receivers sell off some Donaco shares...

    Jun 27, 2019  

More news
  • Macau ops track earlier recovery after Jan GGR: analyst
    Macau ops track earlier recovery after...

    Feb 01, 2023  

  • Prominent locals speak in court for Tak Chun boss Levo Chan
    Prominent locals speak in court for Tak...

    Feb 01, 2023  


Latest News

Macau ops track earlier recovery after Jan GGR: analyst

Macau ops track earlier recovery after Jan GGR: analyst

Feb 01, 2023  

Most of Macau’s casino operators are likely to generate positive free cash flow in the first quarter, given the robust recovery level of mass-market gross gaming revenue (GGR) in January, relative...
Read More
Prominent locals speak in court for Tak Chun boss Levo Chan

Prominent locals speak in court for Tak Chun boss Levo Chan

Feb 01, 2023  

January travel lift, CNY sees Macau GGR up 233pct m-o-m

January travel lift, CNY sees Macau GGR up 233pct m-o-m

Feb 01, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”Momentum is expected to grow as mainland China recently reopened its borders, and this presents a substantial growth potential for us as historically a large portion of our clientele came from China”

Porntat Amatavivadhana

Non-executive chairman of Donaco International



Most Popular

  • Available Macau casino tables busy at tail of CNY holsAvailable Macau casino tables busy at tail of CNY hols January 27, 2023
  • Macau CNY mass GGR maybe 60pct plus of CNY 2019: JPMMacau CNY mass GGR maybe 60pct plus of CNY 2019: JPM January 31, 2023
  • January travel lift, CNY sees Macau GGR up 233pct m-o-mJanuary travel lift, CNY sees Macau GGR up 233pct m-o-m February 1, 2023
  • Chinese comeback limited impact on Singapore IRs: bankChinese comeback limited impact on Singapore IRs: bank January 31, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us