Ainsworth founder launches bid to increase stake in Ainsworth game technology

Kjerulf David Hastings Ainsworth, an investor, has launched an unconditional off-market takeover bid to acquire 2.9% of ordinary shares in Ainsworth Game Technology Limited (ASX:AGI) for AUD $1.30 per share. As of December 4, 2025, Ainsworth holds a 7.27% relevant interest in AGI, totaling 24,499,578 shares, and aims to increase his holding to approximately 8.19% after the offer. The offer price represents a 28.7% premium to AGI’s closing price on October 21, 2025, and a 30% premium to Novomatic’s AUD $1.00 per share offer from August 20, 2025.

The bidder's statement highlights Ainsworth's belief that AGI is undervalued and states his intention to advocate for minority shareholders, including opposing delisting from the ASX, pushing for dividend recommencement, and advocating for new board and senior management appointments. The offer is open for acceptance until 7:00 PM (Sydney time) on January 26, 2026.

Payment to shareholders will be made within one month of acceptance or 21 days after the offer period ends, with no stamp duty or brokerage fees for issuer-sponsored holdings delivered directly to Ainsworth. The offer applies to 2.9% of shares, but for parcels below a marketable amount, the offer extends to all shares in that parcel.