Ainsworth Game Technology Ltd (ASX:AGI), a prominent developer and supplier of gaming technology and content for the global gaming market, has received further clarification regarding an off-market takeover bid. Kjerulf David Hastings Ainsworth, who is seeking to acquire 5.5% of the company’s fully paid ordinary shares, released a Second Supplementary Bidder’s Statement on 14 April 2026. This statement builds upon his original bidder’s statement from 12 March 2026 and a first supplementary statement dated 30 March 2026, offering additional insights into his intentions and views concerning the company’s governance.
Mr Ainsworth detailed his positions on two resolutions recently requisitioned by Novomatic for AGI’s upcoming Annual General Meeting. He expressed support for proposed changes to AGI’s constitution regarding directors’ interests and remuneration, viewing them as positive initiatives to tighten requirements. Conversely, he declared his intention to vote against the renewal of proportional takeover provisions. He argued that this measure could restrict shareholders from selling a portion of their shares under a proportional bid without prior approval, potentially limiting offers and entrenching the control of the existing major shareholder, Novomatic.
Furthermore, Mr Ainsworth affirmed his support for the appointment of Mr Lawrence Levy as an independent non-executive director, having formally nominated him for election at the 2026 AGM, subject to regulatory approvals. He highlighted Mr Levy’s extensive industry experience, including a previous tenure as AGI’s Chief Executive Officer from July 2019 to September 2021, and senior global roles in the gaming sector, which Mr Ainsworth believes would provide valuable continuity and strategic insight.
Finally, Mr Ainsworth announced his intention to requisition a separate meeting to consider a constitutional amendment regarding dividend payments. He noted that AGI has not paid a dividend since October 2018, despite reporting strong financial results and revenue growth. Mr Ainsworth considers this continued withholding of dividends difficult to justify, raising concerns about the Board’s balance between reinvestment priorities and its responsibility to return value to shareholders.
