Ainsworth Game Technology has announced the cancellation of its proposed scheme of arrangement with Novomatic AG, after concluding that the necessary shareholder approval would not be secured.
The company’s Independent Board Committee (IBC) reviewed proxy votes submitted so far and determined that the shareholder approval condition under the Corporations Act was unlikely to be met. The scheme had been designed to enable Novomatic’s full takeover of Ainsworth through a court-sanctioned process.
Both parties have agreed to waive the consultation period outlined in the Implementation Deed and terminate the scheme component of the agreement. Ainsworth will now seek approval from the Supreme Court of New South Wales to cancel the scheme meeting, originally scheduled for 29 August 2025.
Novomatic’s Bidder’s Statement was lodged with the ASX on 20 August 2025. The IBC maintains its unanimous recommendation for shareholders, excluding Novomatic, to accept the bid, provided the independent expert finds the offer fair and reasonable, or not fair but reasonable, and in the absence of a superior competing proposal.
