Novomatic Pushes Ainsworth Bid Deadline to February 6

Novomatic again pushed back the clock on its bid for Ainsworth, giving shareholders more time to decide while keeping pressure on a competing offer from within the founding family.

Good to Know

• Novomatic already controls more than two thirds of Ainsworth shares
• The takeover price from Novomatic stands at AUD1.00 per share
• A separate family-linked bid priced shares higher but covered only a small portion

According to a recent filing on the Australian Securities Exchange, Novomatic AG has extended the closing date of its takeover offer for Ainsworth Game Technology Ltd for a third time. The bid will now stay open until 7pm Sydney time on February 6, unless withdrawn.

The prior deadline had been set for 7pm Sydney time on January 30. No changes were made to the price or structure of the offer as part of the extension.

Novomatic launched the bid in August with an unconditional offer of AUD1.00 per share for the Ainsworth stock it does not already hold. At current exchange rates, that values the offer at about US$0.69 per share.

Control already sits firmly with the bidder. Novomatic and founder Johann Graf together hold 66.59 percent of Ainsworth shares, according to a filing dated January 28. That level of ownership leaves only a minority stake still in play under the takeover proposal.

Support from inside Ainsworth followed soon after the bid appeared. In mid-September, an independent board committee formed by Ainsworth said it had unanimously recommended shareholders accept the Novomatic offer.

A competing proposal later complicated the picture. In late October, Ainsworth disclosed receipt of a proportionate offer from Kjerulf Ainsworth, a son of the company founder. The offer targeted 2.9 percent of each shareholder holding and came with a higher price tag of AUD1.30 per share. That bid carried a deadline of January 30.

Ainsworth also made clear at the time that Novomatic did not plan to accept the family-linked proposal, reinforcing the bidder position as the dominant path toward full control.

FAQ

Why did Novomatic extend the takeover deadline again?

The filing did not cite a specific reason, but the extension gives remaining shareholders more time to respond.

How much of Ainsworth does Novomatic already control?

Novomatic and founder Johann Graf control 66.59 percent of Ainsworth shares.

Was there a higher competing offer?

Yes. Kjerulf Ainsworth offered AUD1.30 per share, but only for 2.9 percent of each shareholder holding.

Did the Ainsworth board support the Novomatic bid?

An independent board committee unanimously recommended shareholders accept the Novomatic offer.

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