Kjerulf Ainsworth, a major shareholder and heir to the Ainsworth gaming equipment fortune, has announced plans to launch an all-cash proportional takeover bid for shares of Ainsworth Game Technology Limited.
The offer is at AU$1.30 ($0.86) per share for 5.5 percent of the company’s outstanding stock that he does not already own.
The proposed price represents a 23.8 percent premium to AGT’s closing share price on March 10th, 2026, and a 23.5 percent premium to the company’s 30-day volume-weighted average price. It also exceeds the AU$1 ($0.66) per share previously offered by Austrian gaming group Novomatic AG in its off-market takeover bid announced in August 2025.
Ainsworth currently holds about 27.5 million shares in AGT, representing approximately 8.17 percent of the company’s issued capital. If the offer is fully accepted by other shareholders, his stake would rise to roughly 13.25 percent.
The offer will be unconditional and structured as a proportional takeover, allowing shareholders to sell only a portion of their holdings while retaining the remainder to participate in any future improvement in the company’s performance.
Kjerulf Ainsworth is the sixth son of Len Ainsworth, the founder of AGT and a prominent figure in Australia’s slot machine industry. While he does not hold an executive role at the company, he has long been one of its significant shareholders.
In recent years, he has drawn attention for opposing the takeover approach by Novomatic, arguing that the Austrian gaming giant’s offer undervalued the slot machine manufacturer.
The move follows a previous proportional offer launched earlier this year. In January, Ainsworth extended an off-market takeover bid seeking to acquire up to 2.9 percent of the shares he did not already own, as part of efforts by the Ainsworth family to increase its stake amid takeover interest from Novomatic.
Ainsworth Game Technology designs and manufactures gaming machines and related systems for casinos and gaming venues worldwide.
