Ainsworth Game Technology Ltd: Scheme Meeting Cancellation and Novomatic’s Ongoing Bid
In a significant development for Ainsworth Game Technology Ltd, the company has announced the cancellation of its previously scheduled scheme meeting. This decision comes amidst ongoing takeover activities by Novomatic AG, a major player in the gaming industry. Ainsworth, known for its innovative gaming machines and software, is listed on the ASX All Markets with a market capitalization of AUD 345.21 million.
Scheme Meeting Cancellation
Ainsworth Game Technology Ltd, headquartered at 10 Holker Street, Newington NSW 2127, has confirmed the cancellation of the scheme meeting initially set to discuss Novomatic’s takeover bid. This bid, valued at $1.00 per share, aimed to acquire all outstanding shares of Ainsworth not already owned by Novomatic or its associates. The scheme of arrangement, first announced on 28 April 2025, was intended to facilitate this acquisition.
The cancellation follows Novomatic’s announcement on 20 August 2025, where it expressed its intention to proceed with an unconditional off-market takeover bid. However, the Supreme Court of New South Wales intervened, leading to the termination of the scheme transaction earlier this month.
Novomatic’s Supplementary Bidder’s Statement
In a related development, Novomatic lodged a first supplementary bidder’s statement on 26 August 2025. This document, submitted to the Market Announcements Office of ASX Limited, outlines Novomatic’s continued interest in acquiring Ainsworth. The statement, in compliance with Chapter 6 of the Corporations Act 2001, reaffirms Novomatic’s commitment to the takeover bid, despite the recent legal hurdles.
Market Implications
The cancellation of the scheme meeting and the ongoing legal proceedings have introduced a degree of uncertainty for Ainsworth’s shareholders. With the company’s share price currently at AUD 1.00, down from a 52-week high of AUD 1.05, investors are closely monitoring the situation. The price-to-earnings ratio stands at 11.441, reflecting the market’s cautious stance amidst these developments.
Forward-Looking Perspective
As the situation unfolds, Ainsworth’s future remains in flux. The company’s strategic position in the gaming industry, coupled with its innovative product offerings, continues to attract interest from major industry players like Novomatic. However, the resolution of the legal challenges and the potential for a successful takeover bid will be critical in determining Ainsworth’s trajectory.
For now, stakeholders are advised to stay informed and consider the broader implications of these developments on the consumer discretionary sector, particularly within the hotels, restaurants, and leisure industry. As always, the dynamic nature of the market necessitates a vigilant approach to investment decisions.