NOVOMATIC to aid Independent Chair of Ainsworth Game Tech Board

NOVOMATIC to aid Independent Chair of Ainsworth Game Tech Board

Austrian maker of gear for the international gambling industry and provider of related solutions NOVOMATIC AG stated in a recent filing towards the Australian Securities Exchange that it would back the immediate appointment of an independent individual to the post of Chair of the latter company’s board if it completes the proposed takeover of fellow provider and manufacturer Ainsworth Game Technology Ltd.

In addition, the Austrian gaming giant would make sure that the Ainsworth Game Technology board would carry on having a separate directors majority.

NOVOMATIC first announced plans to get the Australian-listed gaming company on February 23. The Austrian holding said that it might obtain a 53% stake in Ainsworth Game tech through the latter’s Chairman and founder Len Ainsworth.

Earlier this month, the Australian business said in a filing to your ASX that a shareholders conference was in fact postponed for up to 30 days. The meeting had been planned to be held on June 3 and during it, investors were to vote regarding the proposed transaction.

The meeting had been delayed because of discussions that are ongoing whether shareholding interests associated with Mr. Ainsworth family members should vote en bloc, possibly to the detriment of the rest of the organization’s shareholders.

Based on a Friday filing from Ainsworth Game Technology to your ASX concerning the prospective takeover, NOVOMATIC has said that upon the deal’s conclusion, if such completion occurs, a completely independent person would be appointed as Chair of this Australian business. (more…)