An Independent Board Committee prepared by the Board of Directors of Ainsworth Game Technology (AGT) has unanimously recommended that shareholders accept the proportional offer put forward by Kjerulf Ainsworth, the son of company founder Len Ainsworth and currently holding 8.24% of AGT shares.
Ainsworth, who ran a similar proportional takeover offer last year, announced in mid-March that he was launching a second proportional bid in an effort to further lift his stake in Australian slot machine supplier Ainsworth Game Technology (AGT). The all-cash unconditional offer is for 5.5% of ordinary shares for AU$1.30 per share, which if fully filled would lift his stake to 13.29%.
