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Kjerulf Ainsworth announces premium takeover bid for AGI shares

Offer price of AU$1.30 per share represents a premium to recent trading levels.

1 min read
Stake ainsworth
Key Points
All-cash proportional bid for 5.5% of each shareholder’s holding
Offer set at AU$1.30 (US$0.93) per share with a premium of up to 30%
Bid follows a previous proportional offer that closed in January 2026

Kjerulf Ainsworth, the son of Founder Len Ainsworth, has announced an all-cash proportional takeover bid to acquire 5.5% of ordinary shares he does not already hold, at a price of AU$1.30 per share. The offer will allow shareholders to realise value for a portion of their investment while retaining the balance of their holdings. 

According to the announcement, the offer price represents a 23.8% premium to AGI’s closing share price on 10 March 2026 and a 23.5% premium to the 30-day volume weighted average price. It also exceeds the AU$1.00 per share previously offered by Novomatic in its off-market takeover bid that closed on 6 February 2026, marking a 30% premium to that proposal.

Ainsworth stated that the bid is unconditional and will be detailed in a forthcoming Bidder’s Statement to be provided to both AGI and its shareholders. The document will outline how to accept the offer and provide further information on the rationale behind the proposal.

Although a proportional takeover bid is not required at this time, Ainsworth said he chose to proceed to honour a commitment made in his 2 February 2026 letter to shareholders, ensuring all investors have the opportunity to receive the offer price for part of their shares.

As of the announcement date, Ainsworth holds a relevant interest in approximately 27,520,964 shares, representing 8.17% of AGI’s issued capital. If all other shareholders accept the offer, his interest would increase to roughly 13.25%.

Good to know

Shareholders who participated previously will have realised a total of 8.4% of their holdings if they accept the new offer

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