Kjerulf David Hastings Ainsworth has issued a first supplementary statement for his second off-market takeover bid targeting 5.5% of Ainsworth Game Technology shares at $1.30 each, revealing an 8.24% voting stake ahead of the offer’s close.
- Second off-market takeover bid for 5.5% of Ainsworth Game Technology shares
- Offer price set at $1.30 per share, open until 27 April 2026
- ASIC grants relief allowing earlier disclosure of shareholding interests
- Ainsworth holds 8.24% voting power and relevant interest in 27.7 million shares
- Detailed record of on-market and off-market share purchases disclosed
Background to the Bid
Kjerulf David Hastings Ainsworth has taken a significant step in his ongoing pursuit of a stake in Ainsworth Game Technology Ltd (ASX:AGI) by issuing a first supplementary bidder’s statement for his second off-market takeover bid. The offer targets 5.5% of the company’s fully paid ordinary shares at a price of $1.30 per share, with the bid officially open for acceptance until 27 April 2026.
This supplementary statement builds on the original bidder’s statement released earlier in March, providing updated disclosures and clarifications as required under the Corporations Act. It is a critical document for shareholders and market watchers seeking to understand the evolving dynamics of this takeover attempt.
Regulatory Relief and Shareholding Details
A key highlight of the supplementary statement is the relief granted by the Australian Securities and Investments Commission (ASIC). This relief allows Mr Ainsworth to disclose his relevant interests and voting power as of four trading days before the offer date, rather than on the offer date itself. This adjustment facilitates transparency around his share acquisitions made on-market prior to the bid’s opening.
As of 27 March 2026, Mr Ainsworth holds an 8.24% voting power in Ainsworth Game Technology and has a relevant interest in 27,748,217 shares. This stake notably exceeds the 5.5% targeted by the current offer, reflecting a strategic accumulation of shares ahead of and during the bid period.
Detailed Purchase Activity
The statement includes a comprehensive schedule of on-market and off-market purchases made by Mr Ainsworth and his associates over the preceding months. These transactions, priced mostly between $1.04 and $1.30 per share, demonstrate a methodical approach to building a substantial shareholding position. The disclosure of these trades provides valuable insight into the bidder’s commitment and the price levels at which shares have been acquired.
Implications for Shareholders and Market
For existing shareholders of Ainsworth Game Technology, this supplementary statement signals a serious and well-resourced bid that could influence the company’s control structure. The offer price of $1.30 per share sets a clear valuation benchmark, and the disclosed stake held by Mr Ainsworth may encourage other shareholders to consider their positions carefully.
Market participants will be watching closely to see how many shareholders accept the offer by the deadline and whether Mr Ainsworth will seek to increase his stake further. The company’s response and any strategic moves by other investors will also be pivotal in shaping the outcome.
Bottom Line?
As the offer period unfolds, the market will be keenly watching whether Ainsworth’s growing stake translates into broader shareholder support or sparks counterstrategies.
Questions in the middle?
- Will Mr Ainsworth increase his offer or stake beyond 5.5%?
- How will Ainsworth Game Technology’s board and major shareholders respond?
- What impact will this bid have on the company’s share price and strategic direction?