Ainsworth Game Technology has just made a big move. The company signed a binding Scheme Implementation Deed with Novomatic, its majority shareholder. Under the new Ainsworth Novomatic deal, shareholders are set to receive a cash offer of A$1 per share.

• Novomatic already owns 52.9% of Ainsworth and aims to acquire the remaining 47.1% via a scheme of arrangement. The Ainsworth Novomatic deal values the company at around A$ 336.8 million in equity and A$ 336.5 million in enterprise value.

• The offer price of A$1 per Ainsworth share represents a 35% premium over the last closing price of A$ 0.74. It also shows a 28% premium over Ainsworth’s six-month volume-weighted average price (VWAP) of A$0.78.

• AGI Chairman Daniel Gladstone said: “The proposal put forward by Novomatic, who is already the majority shareholder of AGI, represents a significant premium to long term trading value and is compelling for AGI minority shareholders.”

• The next steps include sending a Scheme Booklet to shareholders by July 2025, holding a vote at a scheme meeting in early August, and, if approved, finalizing the deal by the end of August 2025.

• The scheme needs approvals from shareholders, the Federal Court, and compliance with ASIC and ASX rules, but it does not require new regulatory approvals or additional financing.

• Novomatic plans to fund the acquisition with a mix of existing cash reserves and third-party debt financing, without needing to perform further due diligence on Ainsworth.

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